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Home My WebLink AboutD-1368 ,.... . . ( BKD2509pc/76 This is to certify that the interest in real property conveyed or transferred to the City of Arcadia, a municipal corporation, by the deed, grant, conveyance or instrument dated June 9, 1964 , from or executed by ARCADIA GLASS AND MIRROR CORP. , is hereby accepted by the City of Arcadia by the order or authori- zation of the City Council of the City of Arcadia contained in Resolution No. 2963, adopted January 21, 1958, and recorded in the office of the Recorder of Los Angeles County on January 29, 1958, as instrument No. 3069 in Book 56448, Page 26 Official Records of Los Angeles County; and the City of consents to_the~o~dation thereof by its dUly authori ers. ,-~/~r City Manager CERTIFICATE OF ACCEPTANCE . " -.1 [v 00, . The document thus described is hereby approved as to form. . '\~ ;<< ~~~~nev ~ / ... " ..... RECORDIN,G REQUESTED BY 728 " ~ /./t;>Q BKD2509pc/7S' , RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUN1Y, CALIF. FOR TITLE INSURANCE & TRUST CO, AND WHII!:N RECORDED MAIL TO I Nomo City of Arcadia '''HI 240 West Huntington Drive .dd.... Arcadia, California City & ..... LAttn: Mr. James A. Nicklin I JUN 15 1964 AT 8 A.M. RAY E. LEE, County Recorder I FfllZ 32-00 I ~.!J I .J ~ IliJlt-I~;i:l'~If.l-;l~/j r-.!l!liu.a.a.l1..1a:P SPACE AeOVE THIS LINE FOR RECOR;iG1tr:~ :~l~~'1 . .\, "~'J ..' . ....ij' , 'i'~, . ..~ " ~ ~ \1 ' 'I~~:.~~~~~~jl 'I~'~~I') '~'~:"""~Jl.. .I(~I~"":"''''' II' III ~:i~'f ~ool .! ~ ,/. f "!t II "rI" jIi '... ' I ~mlJ '~~'~:-'"\( .!/ l"'~ - ....., , Grant Deed ..:. - . IN THIS SPACE r'::: ~-::._- -_.1 r.::-- __--:._ =-=-__1 ![!;];]1)~if~". ,rr;:r:JJJ~~ I:~y,r:~\.;j 1~]7iJ;;~~~;"1 ,,11 ~;1.. ~,! 1 I p/v. ./\~ \, , ,~';'Ol .~..." ~" ~. I. 'J I~' ..,.,~ I ", -s ~.;~!.,I I ~'" ",,~,..,I I~~J lID = ..Lilll li!.\!..~ - _.~~ ~'''I:Corporation Joint Tenancy c..... . AFFIX I.R.S, $ ?? .55 . .. .. . .... TO 406.1 C THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY . FOR A V ALVABLE CONSIDERATION, receipt of which is hereby acknowledged, ARCADIA GLASS AND MIRROR CORP. a corporation organized under the laws of the slale of California hereby GRANTS to CIT'! OF ARCADIA, a municipal corporation , AS JOINT TENANTS, the followin~ described real property in the City of Arcadia County of Los Angeles , State of California: That portion of Lot 2 of Tract 949, as per map recorded in Book 17 page 13 of Maps, in the office of the County Recorder of said County, described as follows: BEGINNING at the Northwest corner of that certain parcel of land described in the deed to Arcadia Glass and Mirror Corp., a corporation, recorded on 1-2-62, as instrument 3622 in Book D1466 page 260 of Official Records of said County; thence Souther1s" along the Wester1s" line of said parcel a distance of 276.12 feet, more or less, to the Southeast line of said lot 2; thence Northeasterly along said Southeast line to a line that is parallel with and distant Easter1s" 60 feet from said Westerly line; thence Norther1s" along said parallel line, 228.54 feet to the Norther1s" line of said parcel; thence Wester1s" along said Norther1s" line, 60 feet to the point of beginning. ~ In Witness "'Whereof, said corporation has caused its corporate name and seal to be affixed hereto and this instru- ment to be executed by its President and Secretary thereunto duly authorized. , , " Dated: M'lY 27 , 1961. ARCADIA ~"<;OR co~_.a' C,?rD.o~~t~~f STATE OF CALIFORNIA }SS B . ';;t"~ <)~(fll ' . ~~ : . COUNTY OF Los Angeles ri ~ If,' &,11 P~esidenl' On .TllnlO 9, '9f.II before me, the under. By J/lR} , ff >I ' , . ~ I " . - signed. a Notary Public in and for said State, personally appeared ~.. ~';'" . Secretary L. R. Howell . known -'~'" ... '. ;; -- '. '.. to me to be th,. President, and Vera G. Howell known to me to be Secretary of the Corporation that executed the @ JO DeOLIVEIRA within Instrument. known to me to be the persons who executed the NOTARY PU811i~ within Instrument on behalf of the Corporation therein named, and STATE OF CALIFORNIA acknowledged to me that such Corporation exec ted the within Instru. COUN1Y OF LOS ANGELES ment pursuant to it}b~aws or a resolutio its board of directors. WITNESS my hand an official ~ S;gna'ure (/~ tb %~ My Commissioil &.pIres April 19, IY6S. I Jo d eOliveira Name (Typed or Printed) (ThIS art'& ror omclal Dot.arlal seal) Title Order No, T~"TT:: tp ~foy Escrow or Loan No, 88-2988 -J r . ,\" ~ '-. '-. . ", jI. , .. ... .... .. II. .. ,.. ...... .... ... ...... .. .. .. .." .. ~ .. .. .. t' ...." .. . . . .. . . " . . ' . .. ~ .. .. .. ... .... . " . . . " . . . . , . .. ~ .... .. .. CORPORATION JOINT TENANCY GRANT DEED Title Insurance and : . ':" : :". ;':' Trust Company .. .. .. ".. .. .. .. .. .. .. .. .. ..... ...... .. .. .... .. ...... ~.. .... ...... ... .. :."..: .. .... ... COMPLETE STATEWIDE TITLE SERVICE .. ..:..:: .. WITH ONE LOCAL CALL .. ...... .. .. ,.' - . . . ..- .,. ~.. CORPORATION JOINT TENANCY GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL , " v 'I....} '/ ... .. I. (...- ;..- 'J " -' . ROSCOE HOLLINGER AUDITOR.CONTROLL.ER ......-//- COUNTY OF LOS ANGELES DEPARH1ENT OF AUDITOR.CONTROLLER 1!53 HALL OF ADMINISTRATION LOS ANGELES 12, CALIFORNIA MADISON 5.3611 MARK H. BL.OODGOOD CHIEF DEPUTY J. R. PASSARELLA, CHIEF TAX DIVISION August 24, 1964 Attn: Nicholas Bertrand Tax Cancellations City of Arcadia P. O. Box 60 Arcadia, California 91008 Attention: James A. Nicklin City Attorney I Cancellation of Taxes Property acquired from ARCADIA GLASS AND MIRROR CORPORATION--That'portion of Lot 2, Tract 91+9 Dear Mr. Nicklin: Be: In referencc'to you~'letter dated June 26,1964, ,taxes have,been cancelled in accordance with'Section 4986 of the Revenue and Taxation Code. This cancel- lation was ordered by the Honorable Board of Super- ." , ,/ visors August 4, 1964 by Authorization No. 65428. Very truly yours, RO,SCOE HOLLINGER, Auditor-Controller' >':rR /J . ,., .,.~ ,~, By J. R. Passarella, Chief Tax Division JRP/NJB/ram -c. June 26, 1964 1Ir. RMooe 1Io111n&el", Au41tor-Control1er 500 weet YelIPl. 'lIroot Loll ....1.. la, e&1ltom1a Attentions JII'. ....&1"011a Clb1.t, 'l'&x Dirt.lon Dear ..... raa.arolla. 1'ou are h.rob7 roquoetecS to prorate ancI uno.l the Clty'. .har. or all 01 t)' aDd oount)' oz.. 10rt"', u.....et, due or Jtqa_l. upcn tho tollOW1n& dHol'1b04 I'O&l propti t;;r 1ft tho Coun'v of Loa _.10., l1;&h of OalUomta, u....... in the ..... of ARCADIA 0LAI8 AID 1IID0l COD., to 1I1t: lfhat port1en of Lot 2 01 '!'ra.t 949, p.r up rooorded in .,. 11, pq. 13, ot 1IQa, 1ft lb. ott10. ot tho Gount)' ftHorcl.r of B&1d CJountJ', et...l'1becl u tollow.. "11M1na at tho north"..t 001'11.1' of that oorta1n par.el of land ....1'11>>04 1n tho d.H to Anad1a Glu. an4 JU,rror Corp.. a oorporatlcn. r..OI'cl'" an 1-2..62. u Jnatruaent 3622 1n -.ok D11166. pq. 260, of ott101al l\..0l"CIa of .aiet Ooun9' thenoe .outh.l'17 alone tho "..t.r17 110. ot .&1. p&r601 a clUtanoo of 216.11 t..t,.ro or 1.... to tho .outh..t 11ft. or .&1d Lot 2, theaoe nOl'the&aMJ"q alaaa a&1d .outheut 11n. to a Uno that 1a parallel with aDd d1.tant ..t.1'17 60 t..t tr_ .&1d "'.'..17 11.., then.. north.l"17 alane 8&1d parallel 11ft.. 218.54 t..t to tho nOJ"'herl, Un. of .aid pareelS then.. .o.terlJ' alcac .&1e1 north.l"lJ' l1no, 60 to.' to tho point of Hs1nn1na. th1. prop.rt7 ... aoquired b.r tho Cit7 of Aroadia b.r deed elated _ 21. 1964.... I'M"''' 1n JIooIl: _509. paa. 115. 1n tll. lte.oH.r'. oUI.. an .Tun. 15. 196'. 1'our. V.Z7 truly, JAlhJf. 00 :CltJ Clork JAIdI A. JlICXL1Jf 011:7 Attorn., . V~' . "-'" u U J. \L ih~ ~'{ '\ 1=-- 101 TO 1012.1 f C California lcmd Tille AssociatIon Standard Coverage Policy Form Copyright 1963 1893 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company Title Insurance and Trust Company, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A, hereby insures the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against loss or damage nOt exceeding the amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: 1. Any defect in or lien or encumbrance on the title to the estate or interest covered hereby in the land described or referred to in Schedule C, existing at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. UnmarketabilitY of such title; or 3. Any defect in the exemtion of any mortgage shown In Schedule B securing an indebtedness, the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the estate or interest referred to in this policy; or , : -'j,: 4. Priority over said mongage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said m'ortgage being shown in Schedule B in the order of its priority; J': 9t', "I:, I," all subject, however, hereto annexed" " . ....~: ....' , " <" ......, , , .'" . ~ ;..~ to the provisions, of Schedules A, Band C and to the Conditions and Stipulations J - ... .', _ \-~ 'l '. '. " ',1;~ "R,... , \" - /" ,) , , ,', In W#~eJS,'W!";reof, Title Insurance and Trust Company has caused its corporate<name'a'nd seal to be heteunto affixed by its duly authorized officers on the date shown' in Schedule A, 1" ll., ;; .:.:-- :: ~ :;.: ~ .. '- r;'1 " ~ " ,^ " Title Insurance and Trust Company by ~~ ~SIDENT ,~ I~ ; ': ",,{Q ..:. LI..1 \, " ~ ",--,"',," .<t~ At/est GWN-~ SECRETARY - 11'-, CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": [he land descnbed, specific. ally or by H,-ference, in' Schedule C and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (e) "knowledge": actual knowledge. not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; . (d) "date": the effective dace; (el "mortgage": mortgage, deed of trust, trust deed, or ocher security instrument; and (f) "insured": the party or panies named as Insured, and if the owner of the in. dehtedness secured by a mortgage shown in Schedule B is named as. an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of such IOdebtedness, (2) any such owner who acquires the estate or Interest referred to in this policy by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, and (3) any federal agency or instrumentality which is an in- surer or guarantor under an insurance con. tran or guaranty insuring or guaranteeing ~aid indebtedness, or any part thereof, whether named as an Insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TITLE If an insured owner of the indebtedness secured by a mortgage described in Sched- ule B acquires said estate or interest, or any part thereof, by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, or any part thereof. or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance contract or guaranty insuring or guarantee- ing the indebtedness secured by a mortgage covered by this policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and stipula. tions hereof. 3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions. or location of lIny improvement now or hereafter erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions (Ir area of any lor or parcel of land. (b) Governmental rights of police power or ernlOent domain unless norice of the exercise of such rights appears in the public rCUlrds at the date hereof. (c) Title to any property beyond the lines of the land expressly described in Schedule C, or title to streets, roads. ave. nues, lanes, ways or waterways on which such land abuts. or the ri~ht to maintain therem vaults, tunnels. r:lmp!o or any other structure or improvcment; or :lOY rights or easements therein unless this policy speCIfic. ally proVIdes that such pwperty. rights or easements are insured, except tbat if the land abuts upon one or more physically open streets or highways thi~ polley insures the ordinary fights of abuttin~ owners for access to one of stich streets or hIghways, unless otherWIse extepkd or excluded herein, (d) Defects. hens, encumbranc~s, adverse claims against the title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the date of this policy or at the date such Insured Claimant ac. quired an estate or interest insured by thIS policy and not shown by the publ ic records, unless disclo~ure thereof In writin~ by the Insured shall have been made to the Com- pany prior to the date of this policy; or (3) resulting in no loss to the Insured Claim- ant; or (4) attaching or created subsequent [Q the date hereof. (e) Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value with- out knowledge. 4. DEFENSE AND PROSECUTION OF ACTIONS -NOTICE OF CLAIM TO. BE GIVEN BY THE INSURED (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in all litigation consisting of actions or proceedings com- menced against the Insured, or defenses, resrraining orders, or injunctions interposed against a foreclosure or sale of the mort. gage and mdebtedness covered by this pol icy or a sale of the estate or interest In said land; or (2) for such action as may be appropnate to establish the title of the eSlate or interest or the lien of the mort- gage as insured, which litigation or action III any of such events IS founded upon an alleged defect, lien or encumbrance in- sured against by this policy, and may pur- sue any litigation to final determination in the court of last resort. (b) In case any such action or proceed- ing shall be begun, or defense interposed, or in case knowledge shall come to the In- sured of any claim of title or IOterest which is adverse to the title of the estate or in. terest or lien of the mortgage as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured br a mortgage covered by this policy, or, i an Insured in good faith leases or contracts to sell, lease or mortgage rhe same. or if the successful bidder at a foreclosur~ sale under a mort. gage covered by this poiley refuses to pur. chase and 10 any such event the title to said estate or interest is rejected as un- marketable, the Insured shall notIfy the Company thereof 10 writing. If such notice shall not be given to the Company within ten days of the receipt of process or plead. ings or if the Insured shall not, 10 writing, promptly notify the CnmpJ.ny of any de. fecr. lien or encumhr.1.nce insured a,2::linst whIch shall come to the knowledge of the Insured, or If the Imured shall nor. in writing, promptly notify the Company of any such rejection by reason of claimed un- marketability of title. then all liability of the Comp.IOY in regard to the subject matter of such action, proc~eding or matter shall cease and terminate; prOVided, however. that failure to notify shall 10 no ca~e prejudice the claim of any Insured unless the Company shall be actually prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own COSt to institute and prosecute any action or proceeding or do any other act which In its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the mort. gage as insured; and the Company may take any appropriate action under the term~ of this policy whether or not it ~hall bt' liable thereunder and shall nO[ thereby concede liability or waive any provision of this policy. (d) In all cases where this policy per. mits or requires the Company to prosecute or provide for the defense of any act inn or proceedmg. the Insured shall secure ((1 it the right to so prosecute or provide de. fense in such action or proceedinp:, and all appeab therein, and permit It to use, at its option, the name of the Insured for such purpose. Whenever requested by the Com. pany the Insured shall give the Company all reasonable ajd in any such action or proceeding, in effectin~ settlement. secllrin,i.: evidence, obtaining witnesses. or prosecu. ting 0{ defending such action or proceed. ing, and the Company shall reimburse the Insured for any expense so incurred. 5. NOTICE OF LOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 4(b), a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within sixty days after such loss or damage shaH have been determined. and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shaH be had by the Insured under this policy unless actIOn shall be commenced thereon within five years after expiration of said thirty dar period. Failurl" to furnish such statement 0 loss or damage, or to commence such action within the time hereinbefore specified, shall be a con. c1usive bar against maintenance by the In. sured of any action under thIS policy. 6. OPTION TO PAY, SETTLE OR COMPRO~ MISE CLAIMS The Company shall have the option to payor setrle or compromise for or in the name of the Insured any claim insured against or to pay the full amount of this policy, or, in case loss is claimed under thi~ po!Jcy by (he owner of the indebtedne~., secured by a mortgage coven:d by thIS policy, the Company shall have the option to purchase said indebtedness; such pur. chase, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Last Page of This Policy) . '.' . . TO 1012.1 AB C Co1ifornio land Titl" AS$QClatlon Standard Coverage Policy-1963 SCHEDULE A Premium $ /.2./ .S-c) Amount $ 21,311.00 Effective Date June 15, 1964 at 8 a.m. Policy No, 6266366 INSUHED CITY OF ARCADIA, a municipal corporation. 1. Title to the ~state or interest covered by this policy fit the date hereof IS vested In: CITY OF ARCADIA, a municipal corporation. 2, The estate Ot interest m the land described or referred to m Schedule C covered by this policy is a fce. SCHEDULE B This policy does not insure against loss or damage by reason of the following: PART I 1. Taxes 01" assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public recOI.ds. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could he ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances which arc not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which fire not shown by the public records. 5. Unpatented mining claims; reservations Or' exceptions in patents or in Acts fluthorizing the issuance thereof; water rights, claims or title to water. v- . . TO 1012.16 Cant. C CalifornIa land Title AssocIation Standard Coverage Pollcy-1963 SCHEDULE B-(Continued) PART II 1. General and special county and city taxes for the fiscal year 1964-1965, a lien not yet payable. - .. .. ~ TO 1012-1-I056.1C C American land Tille Association Loan Policy AddItional Coverage-1962 0' Callfornlo land Title Association Standard Coverage Pollcy-1963 SCHEDULE C The land referred to in this policy is situated in the county of Los Angeles, state of California. and is described as follows: That portion of lot 2 of Tract 949, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in book 17 page 13 of Maps, in the office of the county recorder of said county., described as follows: Beginning at the northwest corner of that certain parcel of land described in the deed to Arcadia Glass and Mirror Corporation., recorded on January 2, 1962, as Instrument No. 3622 in book D-l466 page 260, Official Records, of said county; thence southerly along the westerly line of said parcel, a distance of 276.12 feet, more or less, to the southeast line of said lot 2; thence northeasterly along said southeast line to a line that is parallel with, and distant easterly 60 feet from said westerly line; thence northerly along said parallel line, 228.54 feet to the northerly line of said parcel; thence westerly along said northerly line, 60 feet to the point of beginning. ',tl.vc 7~"'~~ < " : . " , I I /. ----. --\., \ '-I- J. v_ ~ - -- POR~IJ~ 02 ~0T 2, 0f TR~CT 949 ~~ COLORAOO 2 BL va. ~ -: 1<\, 't " '" ~ CIi F ~ ?89.'3t5, --'0'/' Z6~J?Z ~ t II') : 2 300 ~ ~ ~ ,: 'I ~ ~ -----------I----~5}~~-..,-.-._:_:.r--I;~7o--Q. , ~ .. - -- ~ - - - - - - -1 r /. -".' I ,a.... ~ ~ ,~~~~. ~, ~ '" I.' ,~ 'ff, ,7j CI) '- f !(l)., ~ t.. !~ (~{('~. /~ L~ !;I-!.-~Sf___ ~ '- ~ ~...!S_ _+__/4f~/~_ ',100 ",I' L J': 'I~' 6ir- ~ ',: "'-kz <l~ .. \'''' (\I, 05, ~q .~!f -:J;:[.,.4 OV " 1;.-..... . =-- .~:_, '" (..., - ' ....,.. ~ ~ IC~e. fZ \\' ' , ~ ~ , .. '" It L ~ ::> ~ "11Th)" is not a survey of the land but is compiled for information by the Title Insurance and Trust Company from data shown by the official records. ,.r ...J. '/ V.._'"' -" ., Tfv~ ." , - .-,. PORTIJ"! 'J? ~CT ? I), TRI\'::T 9i.;.9 I -, i , . . , I J ~-~ .......... , , , , , \ ; I + / J \ '\ ~ ~~ COLORADO 2 BL va. I' ...: 1'\< ~', ..; ~ <?B9.36 I - ~- r II") ~6~, 22 \() \Ii ) ~ 2 300. , I 5.53?7 - - - - - - - - - - -1- - - - - - - - - - - - -r - - -.~ - - _t::- -~--- --- ----1 r /."'?...--.... /-#::1/0;; "'" I " ,t ~)', ~ \., ;2 g,t';,t- ~ I f..-,..... I 4t '-' !~ L.:~~.:r. ~5 L!_ !x...!.~!:!__... '... . +- _ J4S I!l! ~ ~ '" ~ ~ .- ~ 100 L ~ ~ ~ ~ ..... <: ~ ~ ~ <C( CI) .This is not a survey of the land but is compiled for information by the Ti Ie Insurance and Trust Company from data shown by the official records. .. " . . ,., CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) ,he full amount of this policy. togerher with all (osts, attorneys' fees and expenses which the Company is obligated hereunder tn pay, shall te{rninate aU tiability of the Company hereunder. In the event. afrer notice of claim has been given to the Com. rany by the In~ured. the Company offers to purchase said indebtedness. [he owner of such indebtedness shall transfer and assi~n said indebtoones) and the mortga~e securin~ the same to the Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed. in all. the actual loss of the Insured and costs and attorneys' fee<> which the Company may he obligated hereunder to pay. . (b) The Company will pay, in addition to any loss insured against by this policy, JII co~ts Imposed upon the Insured in liti- gation carried on by the Company for the Insured, and all caS[S and attorneys' fees in litigation carried on by the Insured with the written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (I) if the Company, after having received notice uf an alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, hen or encumbrance within a teasonable time after receipt of such notice. or '(2) for liability volumanly assumed by the Insured in settling any claim or suit without written consent of the Company, or (3) In the event the title is rejected as unmarketable because of a defect. lien or encumbrance not excepted or excluded in [his policy, until there has been a final determination by a coun of competent juris. diction sustaining such rejeClion. (d) All payments und~r this policy. ex- cept payments made for costs, attorneys' fees and expenses. shall reduce the amount of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such payment unless the policy be I()st or destroyed, in which Case proof of such loss or destruction shall be furnished to the satisfaClion of the Com. pany; provided. however. If the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured. except ro the extent that such payments reduce the amount of the indebtedness secured by such mono gage. Payment in full by any person or voluntary satisfaction or release by the In- SUled of a mortgage covered by this poticy shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mortgage, except as pro. vided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shall be pay- able within thirty days thereafter. 8. LIABILITY NONCUMULATIVE It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under any policy insuClng the validity or priority of any mortgage shown or referred to in Schedule B hereof or any mortgage here. after executed by the Insured whIch is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a pJ.Y' ment to the Insured under this policy. The proVisions of this paragraph numbered B shall not apply to an Insured owner of an indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires tide to said estate or interest in satisfactIOn of saId indebtedness or any part rhereof. 9. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have settled a claim under this policy. all right of sub. rogation shall vest in the Company un. affected by any act of the Insured. and it shall be subrogated to and be entitled to all rights and remedies which the Insured would have had against any person or prop- erty in respect to such claim had this policy not been issued. If the payment does not Cover the loss of the Insured. the Company shall be subrogated to such rights and remedies in the proportion which said pay- ment bears to the amount of said loss. If loss should result from .In}' act of the In- sured. such ace shall not vnid thi.. policy. but the Comp.my. in that event, shall be required to pay unly that pan {)( any losses insured a.e:ainst hereunder which shall ex. ceed the amount. if any. lost to the Com. pany by reaso(l of the impairmeOl of the right of subro.e;ation. The Insured. if reo quested by rhe Company. shall transfer to the Company all rights and remedies against any person or property necessary in ordt:r to plrfect such righr of subrogation, and shall permit the Company to use the name of the Insured In any transaction or litigation involvin.e; such rights or remedies. If the I nsured is the owner of the in- debtedness secured by a mortgage covered by this pol.icy, such Insured may telease or substitute [he personal liability of any debtOr or guarantor, or extend or mherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any col. lateral security for the IOdebtedness. pro. nded such act does nOl result in any loss of priority of the lien of the m()rt~age. " 10. POLICY ENTIRE CONTRACT Any action or actions or rights of action rhat the Insured may have or may bring against the Company ari~ing out of the starus of the lien of the mortga~e coveted by this policy or the title of the estate or interest insureJ herem must be based on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by lhe PreSident, a Vice President. the Secretary. an AssistaOl Secretary or mher ,'alidating officer of the Company. . 11. NOTICES, WHERE SENT All notices required to be Rivf:n rhe Com. pany and any statement 10 wrnm.'!: required to be furnished tht. Company shall bt' ad- dressed to it at the office which i,sued this policy or to its Homt' Office, -133 South Spring SHeet, Los Angeles )4. California. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. @ Title Insurance and Trust Company "'OUNOEO ON \8113 POLICY OF TITLE INSURANCE Offering complete title services throughout the state of California with just one local call. Complete title services also available in the states of Alaska, Nevada, Oregon and Washington through subsidiary Companies. Title Insurance and Trust Company Home Olliee 433 South Spring Street Los Angeles 54, California ,