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HomeMy WebLinkAboutD-1389 T~os~ vo~~ion ot lots 47 and 48 or Tract No. 3430, in the ~~ city or Arcndia. county of Los Angeles. state of Cal1forn1a, . as per map recorded in book 42 page 32 or ~~ps, in the orrice of the county recorder of said county. that portion of El Molino Avenue. vacated by Ordinanco No. 101, in the city of Arcadia, described as a whole as tollousl Parcel I: Deginnin8 at the northeasterly corner at .said lot 48; thence South 86. 10' 10~ West along the northerly linea of said lots 48 and -47, 162!.19 feet, more or less, to. the northeasterly corner of land conveyed to Thomas H. Norris and ~ife, by deed r~corded in book 9987 page 329, Official Records; thence south along easterly line or land conveyed 'by said deed, 75 feet; thence easterly parallel with north lines of said 10ts'.48 and ~7. 167.23 feet. more or less, to canterly line of that portion of El ~'lol1no Avenue, vacated by said ordinance; thence north a~ong said last mentioned . easterly line 75 feet to the intersection thereof with the easterly prolongation of the norther~' line or lots 48 and 47; thence South 860 109 10" \-lest 5.04 teet to the p01nt ~o.t:' bo~:l,'1nJ.ng. Parcel 2: Beginning at tho northeast corner of said lot, 47; thence South 860 10' 10" West along northerly line .the~e~ of 16.88 feet to nopthoasterly corner of land conveyed to Thomas ll. Norris and wife, by deed recorded in book 6987 ~ pago 329, Official Records; thence south.along easterly ~~ line at land conveyed by said deed, a distance ot 75 teet ~ui ;0 tl1e~~c point or beginning, for this description' thence &";:n :0~t\7 104ra10" East para lIe 1 t1i th northerly lines' of said. ;e ~ ~ o 0 and.. a distance of 167.06 teet, core or less to' J~1 easterly line of that portion at El Molino Avenue, vacated 0;] by.said ordinance; thence south along said last mentioned ~~~ easterly line, 25 teet; thence South 860 10.' 10" West ~.~ g parallel with northerly lines 01' said lots 48 and 47 a ffi~j distance ot 167.06 feet, more or less, to easterly line of ~.~~ land conveyed to Th?tnas H. Norris and wit",; thence nortb : ~~ along 81;1id las~ ~lcn];ioned easterly line, 25 feet to tbe'. '" true pOJ.nt at C," ".-nin.:,' . .. ....l.-.-.... ."'0. . . _ . WilE!)! RECORDEO:- PLEASE ~IAIL THIS . INST~MENT, TO . .1 , ,-" /,"'/J'1 " 5181 BKD2608pc526 /- ~c: c City of Arcadia 240 Huntington Drive Arcadia, California Attn: Harold K. Schone, City Man ger - ~~~~i~~~L~~F~~~~~~C~~~i. '" l\IIin. 1"'!J lJI. AUG 28 1964 OJIPast h" RAY E. LEE, County Recorder Order NO..m..t1..r~~..}.c?....m....m.m... Escrow NO...................mmu...........................mnnn...m.. SPACE ABOVE FOR RECORDER'S USE ONLY ?r:~ ,.- C!C' '.\:.._- ~. ~LACE INTERNAL REVENUE STAMPS IN THIS SPACE GRANT DEED to I. R. s. s......L..~............... DWIGIIT HOOK AND MYRTLE A. HOOK, his wife (GRANTOR. GRANTORS) FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Do Hereby Granl To CITY OF ARCADIA, A MUNICIPAL CORPORATION, the rea) property in the COU)'\I~' ..r City of Arcadia ~s .'I.ngclec , State of California, described as follows: BKD2608pc527 Daled .uu.t\.1Jg!,l!;;:tu9. J.. u;J,.~.~.4;muu.uu x.um ig'CHO~'UUUU'U "u m.au.~~muuuu.uuu. yrtle A. Hook STATE OF CALIFORNIA COUNTY OF ... ......~:;L.A;ggt;1).~Iii.m............................ On :....:...m..!.WgY.S:!;.....6...l9.6.4... ....m................. JSS. .AUU.. hefore me. the underSIJ,!:ned. a Notary Puhlic in and for ~t~J~ounty and State, per~onally appeared ." ~?~~~:~2~:~~~W4n~::A;~:~Q9~:mnnn....nn............ ::/ .: r.~. v\ ,..'... r;.. . . ~ ...;\::................":nd~.t...................n..nnmnn......h_ .:-:.'~ "gnovm to me~Qe the person(s) .....hose name(sl i~ (art'1 ...-: r,'. . c;, .->. '. -' .:;uh5l'rlbed 10. tile wllhin instrumen , '. ". r t. ....... .: ,.... I:..-:~..l..... .;h" m;:.exe('lHed the :" , 7(1' /Sea .... . . ; IG I" . i.J ~ () ,.. .i::.H.i.~...~.~.;;;~...i~~~:l~haft~.;;.~~\}.t~;~~'tI;:..~;~.i'~t~d~~'i (Sec. 8205 . Go\'ernment Code 1959) II GRANT DEED Land Title Company is the exclusive .California ~ re,presentative of 'PYLE'INSURANCE COMPANY OF MI_ESOTA * * * Total Assets over $5,000,000 1 California Land Title Company 3584 Wilshire Blvd. Los Angeles 5, Calif. DUnkirk 5-5141 'Incorporated 1907 Now in 22 States 3584 Wilshire Blvd. Los Angeles 5, Calif. DUnkirk 5-5141 I I": ~ " ! l! 1'\ . > ... !l ~ '" . CERTIFICATE OF ACCEPTANCE A 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 August 6, 1964 , from or executed by DWIGHT HOOK and MYRTLE A. HOOK , 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, P e 2 Official fi~~ords of Los Angeles County; and the City 0 Arca a consents to the recordation thereof by its dUly autho icers. ~~~",I'~~/~ - City Manager The document thus described is hereby approved as to form. (~1;1~t~~~h~-I " CJl p.lo ~ I .' .- .... ~ ~ ~.. t_c - '. ,. 8/(D2608pC528 I, CHRISTINE VAN MAANEN, THE DULY ELECTED QUALIFIED AND ACTING CITY CLERK OF THE CITY OF ARCADIA, CALIFORNIA, DO HEREBY CERTIFY THAT THE FOLLOWING IS A FULL, TRUE AND CORRECT COPY OF A MINUTE MOTION ADOPTED BY THE ARCADIA CITY COUNCIL AT A REGULAR CITY COUNCIL MEETING HELD ON AUGUST 4, 1964: "MOTION by Councilman Balser, seconded by Councilman Forman that the City proceed with the acquisition of 1103 La CadenalAvenue in the amount of $35,750 from Kenneth K. Krohn; that the Manager be authorized to execute escrow documents on behalf of the City in form approved by the City Attorney and that $35,950 be appropriated from Reserve for Capital Projects Account No. 285 in the General Fund and transferred to Capital Projects Account No. 235 Property Purchase - Arcadia Avenue. Roll call vote as follows: AYES: NOES: ABSENT: Councilmen Balser, Considine, Forman, Reibold Mayor Turner None" IN WITNESS WHEREOF, I HAVE HEREUNTO SET MY HAND AND AFFIXED THE SEAL OF THE CITY OF ARCADIA THIS 20TH DAY OF AUGUST 1964. t77 il . . j;- :..<.;; ;.:~t 6-,.- ~.:au, .lftt~ CHRI.~mE VAN MAlINE .( ~';:. ~., CITY ~LJl.RK ~... ARCADiA''; CALIFORNIA. . >l; ,':... # \ .... . 't, ,. .. !',:,<:~~>;/ CJl .,... 00 I-" . , , " '. TO 1012-1 F C Colifornio lond Tills Associotion Standard Coverage Polky Form Copyright 1963 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, devisess, 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, exist 109 at the dale 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 execution of any mongage 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 mongage upon [he estate or interest referred to in this policy; or 4. Priority over said mortgage, at the dale hereof, of any lien or encumbrance not shown or referred [0 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; all subject, howe'(er;:tb"ti!e"'1>'r~vi.ions of Schedules A, Band C and to the Conditions and Stipulations ...- - 4. N . "-\\, hereto annexed~.:--' ~~\)!:. ""\IID If:), \.', .;:';.- ~, ,o:,,)c::)~) 1",/('\ '~'.' .'" ," _,<<- 00 IS ,::. ()~;o ~ i' .~. ,," (,V ocoC"(.\'€. RO,".'!r>,;) dl. 1/ :::? (?~ ~ q. ~i~:r-J!1' Wt~fJ~.fS(.lf7,~ereofJ Title Insurance and Trust Company has caused its j;[ "' 00 f!' ' " ,cofP.Orat1>)rlaITie.and seal to be hereunto affixed by its duly authorized officers i1 L'J c. - , '-h -d "L-" :" Sch duJ A ~ __10 ':'. 'ont e atesuown'1fl e e . ~ ;. . ~ _ -= ,:l,~ . -~ .\~ ~ ~ ~ ... 0 ..',., '. ~ Z ~ f'A ~_.::.:: ,',.... ,of () "'. ~ ~ 0~ ';l'.... ,/ ~J ;:;, ," -" ,. < Cia " .<' Ij;...rCl-$-A r..""'," ,Qtvo.t".; 1!i 00"" ~:. ~ "G .:' 'V' ("~Sr \II' ^" <<.. ,- :?, () "~)o -4 TE 15 G,...c(;" ~ ,,",' ',,~. $.6 OO;;cn')o'-' """~v // \, '.. ~rl;f'>"'" l-l'--. \.;' .";' '.~;"",' ...:i.::_ :"--:~4_;;'~~' "\\\",,,,~:~,. Title Insurance and Trust Company by ~~~ r ~RESIDENT Attest 0W H-~ SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS . The followlOg terms when used 'in this policy mean: (a) "land": the land described, specific- ally or by r~ference, in Schedule C and improvements affixed thereto which by law constitute ceal property; (b) "public records": those records which impart constructive notice of matters relating to said land; (e) "knowledge": actual knowledge, not constructive knowledge or noeice whICh may be imputed to the Insured by reason of any public records; (d) "dare": the effective dare; (e) "mortgage": mortgage, deed of trust. trust deed, or other security instrument; and (f) "insured": the party or parries named liS Insured, and if the owner of the in- debtedness 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 Indebtedness, (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- trael 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 shaH 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) restrieling or regulating or prohibitlOg the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of ;tny improvement now or hereafter ereeled 1m said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (b) Governmental rights of police power or emlOent domain unless norice of the l'xercise of such rights appears in the public relOrds at the date hereof. (c) Title to any property beyond the lines of the land expressly descClbed in Schedule C, or title to streets, roads, ave- flues, lanes, w:lYs or waterways on which such land aburs, or the rit:ht to mainralO therein vaults, tunnels, ramp::. or an}' other structure or Improvement; or any rights or easements therein unless thiS pollcy specific- ally provides that mch property, rights or easemenls are insured, except that if the land abuts upon one or more phYSically open streets or highways thi~ policy insures the ordinary tIghts of abutting owners for access to one of such streets or highwa}'s. unless otherwise excepted or excluded herein. (d) Defects, liens, encumbranct:s, adverse claims against the title as insured or other matters (I) created, suffered, assumed or agreed to by the Insured claiming loss or damage, or (2) known [0 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 public records, unless disclo::.ure thereof in wtIting hy 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 Insur'ed Claim- ant; or (4) attaching or created subsequent to 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 (I) for the defense of the Insured in all litigation conSisting of actions or proceedings com- menced against the Insured, or defenses, restraining orders, or injunctions interposed against a foreclosure or sale of the mort- gage and indebtedness covered by this polley or a sale of the estate or interest in said land; or (2) for such action as may be appropriate to establish the title of the estate or interest or the lien of the mort. gage as insured, whICh litigation or action in 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 10 case knowledge shall come to the In- sured of any claim of title or interest 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 bi a mortgage covered by this policy, or, i an Insured in good faith leases or contracts to sell, lease or mortgage the same, or If the successful bidder at a foreclosure sale under a mort- gage covered by this policy refuses to pur- chase and in any such event the title to said estate or interest is rejected as un- marketable, the Insured shall notify the Company thereof in 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, in writing, promptly notify the Comp:IOY of any de- fecr. lien or encumbrance insured at:ainsr which shall come to the knowledge of the Insured, or if the Insured shall not, in writing, promptly notify the Company of any such rejectIOn by rea~on of claimed un. marketability of title, then all liability of the Company in regard to the subject matter of such action, proceeding or matter shall cease and terminate, provided, however, that failure to notify shall in no case 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 ri~ht at its own COSt to institute and prosecute any action or proceeding or do any other act which 10 ItS opiOlon may be necessary or desirable to estabhsh the title of the estate or interest or the lien of the mort. gage as IOsured; and the Company may take any appropriate action under the term.. of this policy whether or not it shall be liable thereunder and shall not thereby concede liability or w~lIve any provision of thIS policy. (d) In all cases where this policy per- mits or requires the Company to prosecute or provide fur the defense of any action or proceedin~, the Insured shall secure to it the right to so prosecute or provide de. fense in such action or proceed 109, and all appeal!'> 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 aid in any such action or proceeding, in effectlOg settlement, securing evidence, obtaining witnesses, or prosecu- ting or 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 shall have been determlOed, 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 shall be had by the Insured under this policy unless action shall be commenced thereon within five years after expiration of said thirty day pen ad. Failure: to furnish such statement of loss or damage, or to commence such action within the time hereinbefore speCified, shall be a con- clusive bar agalOst maintenance by the In- sured of any aCllon under this policy. 6. OPTION TO PAY, SETTLE OR COMPRO- MISE CLAIMS The Company shall have the option to payor setde 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~ policy by the owner of the mdebtednes", secured by a mortgage covert;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 Lost Page of This Policy) o' ". TO 1012-1 AB C California land Title Assdtlation Standard COVQroge Policy-1963 SCHEDULE A Amonnl $ 35,750.00 Effective Date August 28, 1964 at 12:05 P.M. Prcmium $.1 ~ -~.J~- Policy No.686630 INSURED CITY OF ARCADIA, a Municipal Corporation. 1. Title to the estate or interest covered by this policy at the date hereof is veslcd in: CITY OF ARCADIA, a Municipal Corporation. 2. The estate or interest III the land described or referred to III Schedule C covered by this policy is a fee. SCHEDULE B This policy does not Insure against loss or damage by reason of the following: PART I 1. Taxes or assessments which are not shown as existing liens by the records of nny to.xinF; authority that levies taxes or assessments on real property or by the public records. 2. Any facts, rights, interests, or claims which are not shown by the public records hut which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of casement 01' encumbrances which are Hot shown by the public I'econls. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which {1 correct survey would disclose, and which are not shown by the public records. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. . TO 1012-)8 Cot'it. C . Callfornla land TItle AssocIation Standard Coverage Pollcy-1963 S C H E D U L E 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-I-l056-1C C Amerlc:an land Titlo Association loan Polley Additional Coveroge-1962 0' Collfornla land Tltl& Association Stand<Jrd Coverage Policy-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: Those portions of lots 47 and 48 of Tract No. 3430, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in book 42 page 32 of Maps, in the office of the county recorder of said county, that portion of El Molino Avenue, vacated by Ordinance No. 101, in the city of Arcadia, described as a whole as follows: Parcel 1: Beginnin~ at the northeasterly corner of said lot 48; thence South 86 10' 10" West along the northerly lines of said lots 48 and 47, 162.19 feet, more or less, to the north- easterly corner of land conveyed to Thomas H. Norris and wife, by deed recorded in book 6987 page 329, Official Records; thence south along easterly line of land conveyed by said deed, 75 feet; thence easterly parallel with north lines of said lots 48 and 47,167.23 feet, more or less, to easterly line of that portion of El Molino Avenue, vacated by said ordinance; thence north along said last mentioned easterly line 75 feet to the intersection thereof with the easterly prolongation of the northerly line of lots 48 and 47; thence South 860 10' 10" West 5.04 feet to the point of beginning. Parcel 2: Beg inn in? at the northeast corner of said lot 47; thence South 860 10 10" West along northerly line thereof 16.88 feet to the northeasterly corner of land conveyed to Thomas H. Norris and wife, by deed recorded in book 6987 page 329, Official Records; thence south along easterly line of land conveyed by said deed, a distance of 75 feet to the true point of beginning, for this description; thence North 860 10' 10" East parallel with northerly lines of said lots 47 and 48, a distance of 167.06 feet, more or less, to easterly line of that portion of El Molino Avenue, vacated by said ordinance; thence south along said last mentioned easterly line, 25 feet; thence South 860 10' 10" West parallel with northerly lines of said lots 48 and 47, a distance of 167.06 feet, more or less, to easterly line of land conveyed to Thomas H. Norris and wife; thence north along said last mentioned easterly line, 25 feet to the true point of beginning. . N,S.'IO'IO"E. 0 t2~,44 145." 72." 172.4 71~17Z. 144./~ I I ~~ I I '" l<i / 4 4, J 7 3 '" ~It I I 1 M' l I I Z47.11 ~J 65 144.1~ 71,6:1 72,6 7t.~5 71.~ 144.1:1 145,/~ FI1IRVIEW I1I'E. 0 '" 60 . 1< 101" "" "- It'" ~ l ~ ti ~ Z20.04 T lOa l~ ~ 35 I.; ~ I~ ~ ZZ,.ZO ; lOa .12'.ZO 16-4.'8 , ..36 , 34 !<i 338.35 ~ .~ ~ ., " ~ ..37 , , J47.~1 /64.~d , ..38 , 356.66 '" ... :l ,," ~ .33 ,," ~ ~t:c;j ~ ~~ ~ 365.8Z 41 ~ JZ5. az -140 I c:) J ~ -.j .:1 40 :;11 .; ~ '" "'I ~ " '" 1 I 166'7 WZ'" 60 ,34,03 .. DUflRT! 0 l /45." 7Z-"YZP>5 I I I I .3:1 1 I I I I I I 1 7Z."'~7Z."" 145." U..,"7z.m 145.1' 726~5:.7Z.6j /45-1-' I I I I I I 413 I I I I I 7J3317J33 /46.67 14,.67 7l535'ffP' 1 I 1 I 13 42 32 ~ ti ~ ~ " ;' 44 II. B,"E. TRACT NO 3430 LOTS 1 TO 9. 27 TO 48 " 'IlJ" lJ I,~~[-"L,nc_ L,,,'- "'J ~I "-j,' h-,':...I !jLil :-o-I~G:.I,Y ( .' ~,'L :~, ~ .. "- '> ~5.I!J 150 1+'5" 100 71,6172.5-' 145.1' I 1 1 I 1 I 1 I 1 I 1 1 I I I .39 :23 ~8 1 1 I I I 1 I 1 1 I I I ~ ,s.15i 50 4,fr.J! 100 72.6 i72.s." 145.1:1 "i 145./9 a,.6013'a1i ~T3Z,7i'!1 -rg:],"" \>) I III I~~ ~ I I ~ - L"I.O-_, ~ :01 ,:::, L '-~---~ '" . ~ 't I"" 1"1.0"'" ~ ~I n' I . ~ I 1 ~I ~ ' !jJ I I ..I" ~ Cl 46 147 ~I ::j 48 ~ ~ I 1 I \ I .1 I I I I ,~I I~ I 'l'lj :L1 14".7 !!......,: ~.70 /46. i' !lo.51 . RaffD ~ , . <: ... 27 . ~ 3 .; . ;;: ~ " 45 <{' -JL 50 '" o -J ""I,j ~::. () --J 1:.0 J I I r I ',J leD lor in c rr:~I;'ic'l .'1'/ :11 c)',.'i; ,'J" .'_ \ n;: " I ... I 11,- OII,[.Ic:., r....cctds. . - ., ,. CONDITIONS ANO STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) . the full amount of this policy, together with all (OS(5, attorneys' fees and expenseS which the Company is obligated hereunder to pa)'. shall terminate all liability of the Company heteunder. In the event, after nmice of claim has been given to the Com- pany by the Insured, the Company offers to purchase said indebtedness. the owner of ,~uch indebtedness shall transfer and assIgn 'iaid indebtedness and the mortga.g:e sccufmg the same to ttle Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The li<lbility of the Company under this policy shall in no case exceed. in all. the actual loss of the Insured and COsts and attorneys' fees which the Company may be obligated hereunder to pay. . (b) The Company will pay. in additIOn to any 105s irlsured against by this policy. ~II co~ts imposed upon the Insured in !It!- gation carried on by the Company for the Insured. and all costs and attorneys' fees in litigation carried on by the Insured with the written a\.lthorization of the Company. (c) No claim for damages shall arise or be maincainable under this policy (1) if the Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, hen or encumbrance within a reasonable time after receipt of such notice. or '(2) for liability voluncarily 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 this policy, unci I there has been a final determination by a coun of competent juris- diction sustaining such rejection. (d) All payments under this policy. ex- cept payment; made for costs, attorneys' fees and expetlses, shall reduce the amount of the in'iurance pro tanto and no payment shall be made without producing thiS policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destructHlO shall be furnished to the satisfaction of the Com- pany; provided, however, if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein th~n such payments shall not reduce pro tanto the amount of the insur:1oce afforded heteunder as to such Insured. except to the extent that such payments reduce the amount of the indebtedness secured by such mono ~age. Payment in full by any person or volunta7 satisfaction or release by the In- sUll'd 0 a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mongage, 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 insuring the validity or priority of any mortgage shown or referred [0 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 shaH be deemed a pay- ment to the Insured under this policy. The provisions of this paragraph numhered 8 shall not apply to an Insured owner of an Indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires title to said estate or interest in satisfaction of said indebtedness or any part thereof. 9. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company sh:111 have settled :1 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 10 the proportion which said pay- ment bears to the amount of said loss. If @ loss should result ffllm any :1([ of the In- surt'd. such .let shall not vuid thiS policy. hut the Comp,lOY, in that event. shall be required to pay only that pan of any losses insured ,l~aimt ht:-reunder which shall ex- ceed the amount. if an}'. lost to the Com- pany hy reason of the impairment of the right of subro~ation. The Insured, if rc- quested by the Company, shall twnsfer to the Company all rights and remedies agalOst any person or propeny net.essary in ordu to perfect such right of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of the in- debtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or guarantor, or extend or mherwise modify the terms of payment, or release a portion of th~ estate or interest from the lien of the mortgage, or release any col- lateral security for the indebtedness, pro- vided such act does nor result in any loss of priority of the lien of the Olorr~aJ!:e. 10. POLlCY ENTIRE CONTRACT Any action or :1ctions or ri,ghts of action that the Insured may have or may bring against the Company arising out of the status of the lien of the mortgage covered by this policy or the otle of the estate or interest insured herein must be !lased on the proVision.. of this policy. No provision or conditIOn of this policy can be waived or changed except by writin~ endor..ed hereon or attached hereto signed by the President, a Vice President, the Secretary, an Assistant Secretary or other valid.lting officer of the Company. 11. NOnCES, WHERE SENT All notices required to be givt'n the Com- pany and any statement in wruin~ rt'quir~d to be furnished the Company shall bt' ad. dressed to it at the office which issu~d this policy or to its Home Offlct', 433 South Spring Street, Los Angeles H, 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 "OUNDED IN .."3 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 National Title Office 3540 Wilshire Boulevarrl Los Angeles 5, California .. . j ~ 1, .. ~ ~ . . LEGAL DESCRIPTION FOR CITY-OWNED PROPERTY AT 1103 LA CADENA AVENUE ; Those portions of Lots 47 and 48 of Tract No. 3430, as shown on map recorded in Book 42, Page 32 of Maps in the office of the Recorder of Los Angeles County, together with that portion of El Molino Avenue vacated by Ordinance No. 101, described as follows: Beginni~g at the northeasterly corner of said Lot 48; thence westerly along the northerly lines of said Lots 48 and 47, 162.07 feet, more or less, to the northwesterly corner of the land conveyed to the City of Arcadia by Document No. 5181, recorded in Book D-2608, Pages 526 and 528 of Official Records of said County; thence southerly along the westerly line of said land to a point of intersection with a line that is parallel with and distant southerly 30 feet from the above mentioned northerly line; said point of intersection being the true point of beginning; thence easterly along last said parallel line 151 feet, more or less, to the beginning of a tangent curve concave to the southwest and having a radius of 15 feet, said curve also being tangent at its southerly terminus with the easterly line of above mentioned vacated portion of El Molino Avenue; thence southeasterly along said curve to a point of cusp with said easterly line; thence southerly along said easterly line 53.89 feet; thence westerly parallel with aforementioned northerly line 167.06 feet, more or less, to its intersection with aforementioned westerly line; thence northerly along said westerly line 69.93 feet, more or less, to the true point of beginning. EXHIBIT A ~~ >- >- co co z a UJ uJ >-- '" t: U eo: ~ ;:: u. z o i ~ ! 0: u If) uJ Q