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BKD3097PG270
CERTIFICATE OF ACCEPTANCE
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This"is to certify that the intetest"in'rea1'property conveyed.or
transferred to the Ci ty- or-Arcadia,' a"iniinicipal corporation, l;>y
the' 'deed~ "grant, conveyance or instrument dated August 23, 1965 ,
fronr or 'execu. ted- 'by'" MARK -n.- LEFF' ,,' -", , , .. --.."
is'hereby accepted by the City of Arcadia by the order or authori-
zation' of' the' Ci ty' Coiincir of the"Ci ty of Arcadia contained ih<
Resolution. No. 2963~ 'adopted-January 21~ 1958, and'recorded in'\
the office"of the"Recorder of Los Angeles County on'January-29,
1958~"a.s'instrumeil.t'Nb. 3069-in 'Book '56448; Page 2;"Officia1"
Recotds'ofLos Angeles Coiinty; and the City 0 dia consents
to the recordation thereof by its duly author f ers.
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City Manager
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The document thus described is hereby approved as to form.
- ~L.I ::-t?~~'Ab~./
(/I City Attorney
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B~03097PGZ6gV
3693
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RECOROEO IN
OFFICIAl. RECORDS
LOS ANGfLES COUNTY, CALIF.
RAY E, LEE, RECO~DER
,Ocr 28 10 3S AM 1965
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WHEN RECORDED MAIL TO
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UNITED STATES NATIONAL BANK
1~8 ~ast,Huntlngton Hrlve
Arcadla.Callrornla
Attn: Lorna Q. Hentley
b.sc : /201
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
.~ [FREE "i75]
AffiX S
T. R. STAMPS IN THIS SPACE
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Quitclaim Deed
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is herehy acknowledged,
MARK D. 'LEFF, a married man, as his separa~e property,
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hereby REMISE, RELEASE AND FOREVER QUITCLAIM to
CITY OF ,ARCADIA, a Municipal corporation,
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the following, described real property in the City of Arcadia,
state of California:
oountyof Los Angeles,
Lars 3,1. 32, 33 and 34 in Block 68 of Tract
No. 866; as 'per 'map recorded in Book 16,
Pages 198 and 199 ~f Maps, in the office of
the County Recorder of said County,
STATE OF CAUFORNIA
COUNTY OF LOS ANGELES
On A UflUS t 23, 1965 berore me, the under,
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signed, a Notary Public in and for said County and State, personally
appeared MARK D. LEFF
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Dated August' 23, 1965
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to he the pe....n_ whose nan" is ..bscribed' t~n~:n :~t~: r.....................'...'........OFFK:.AL..sEiit......-.......:
instrument and acknowledged th.' he executed the same, ; JEANETTE ShEFF !
, ; N01 Arty ~UBLIC ,CALiFORNIA 1
WITNESS my hand and offiCial Heal. f ~ ~f~Al OFFlL( .t. !!
(se:~h--;~'~ --;~F ~ '-=,._,_...~~-~~~~~,~..~~!!!.!,.....J
, Name (Typed or Printed) Title Order No.
Notary Public in and for said County and State
't kt!xecu1tedd by a Corpob,otion ~lIIl~_i _~~.~'~ v_ crow or Loan No.
.lie nowe gment must e weC- -. . ...
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QUITCLAIM
DEED
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TITLE INSURANCE
AND
TRUST COMPANY
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QUITCLAIM
DEED
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TO
FRESNO COUNTY
'1246 "L" STREET, FRESNO
1469 BELMONT AVENUE, FRESNO
INYO-MONO COUNTIES
149 NORTH EDWARDS STREET, INDEPENDENCE
KERN COUNTY
17TH AND "I" STREETS, BAKERSFIELD
1331 CHESTER AVENUE, BAKERSFIELD
ORANGE COUNTY
800 NORTH ;\fAIN STREET, SANTA ANA
SAN LUIS OBISPO COUNTY
1141 CHORRO.STREET, SAN LUIS OBISPO
SANTA BARBARA COUNTY
36 EAST FICUEROA.STREET, SANTA BARBARA
TULARE COUNTY
~20 WEST MAIN STREET, VISALIA
VENTURA COUNTY
101 SOUTH CHESTNUT STREET, VENTURA
542 SOUTH "A" STREET, OXNARD
DATED DATED
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Subsidiary Companies
PIONEER TITLE INSURANCE COMPANY
SAN BERNARDINO COUNTY
340 FOURTH STREET, SAN BERNARDINO
IMPERIAL COUNTY
600 MAIN STREET, EL CENTRO
RIVERSIDE COUNTY
'3490.TENTH STREET, RIVERSIDE
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TITLE INSURANCE
AND
TRUST COMPANY
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INCORPORATED 1893
HOME OFFICE
433 SOUTH 'SPRING STREET, Los ANGELES 54
,; ~~>~_Y~ION TITLE INSURANCE COMPANY
SAN DIEGO COUNTY
220 "A" STREET. SAN DIECO
T~TLE INSURANCE
AND
TRUST COMPANY
INCOBPOa;TBD 1893
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HOME OFFICE
433' ,SOUTH SPRING STREET, Los ANGELES 54
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TITLE INSURANCE
AND /
TRUST COl\1tPANY
FRESNO COUNTY
1246 "L" STREET, FRESNO
1469 BELMONT AVENUE, FRE~NO
INYO-MONO COUNTIES
149 NORTh EDWARD" STREET, INDEPr.NDENCE
KERN COUNTY
17TH AND "I" STREETS, BAKERsnELD
1331 CHESTER An:r.UE, BAKERSFIELD
ORANGE COUNTY
800 NORTH MAIN STREET, SANTA ANA
SAN LUIS OBISPO COUNTY
1141 CHORRO STREET, SAN LUIS OBISPO
SANTA BARBARA COUNTY
36 EAST F!l;UEROA STREET, SANTA BARDARA
TULARE COUNTY
320 WEST MAIN STREET, VISALlA
VENTURA COUNTY
101 SOUTH CUESTNUT STREET, VENTURA
542 SOUTH "A" STREET, OXNARD
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Sllbsidiary Companies
PIONEER TITLE INSURANCE COMPANY
SAN BERNARDlNO COUNTY
340 FOURTH STREET, SAN BERNARDINO
IMPERIAL COUNTY
600 MAIN STREET, EL CENTRO
RIVERSIDE COUNTY
3490 TENTH STREET, RIVERSIDE
UNION TITLE INSURANCE COMPANY
SAN DIEGO COUNTY
220 "A" STREET, SAN DIECO
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ROSCOE HOLLINGER
AUDITOR_CONTROLLER
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COUNTY OF LOS ANGELES
DEPARTMENT OF AUDlTOR.CONTROLLER
MARK H. BLOODGOOD
CHIEF DEPUTY
J. R. PASSARELLA, CHIEF
TAX DIVISION
153 HALL OF ADMINISTRATION
LOS ANGELES. CALIFORNIA 90012
MAcISON 5-3611
January27, 1966
Attn: Eleanor Parker
Tax Cancellations
Office of the City Attorney
City of Arcadia
240 West Hun~tin~ton Drive
Arcadia, California
Attention: James A. Nicklin
City Attorney
Re: Lots 31, 32, 33 and 34 in Block 68
of Tract No 866
Gentlemen:
In reference to your letter dated November 22, 196"
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 January 18, 1966
by Authorization No.7l00l.
Very truly yours,
ROSCOE HOLLINGER, Auditor-Controller
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By J. R. Passarella, Chief
Tax Division
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Mr.,~e'Q~"~o111nge~~,Aud~ter-Controller
,,~w.~t'''rell!P*~ ,:~1:,re.t " ',,", '
Loa Ange~.~~ 1;1.2, "California
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Attent'ion,iMr., J>a.,~arei:i:&..' C1l1eit
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Dear HI' .Pa:~'~&r.e'll&. " ," , "
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, '" '" YQu ~~/ lierGbY ,~que,.'ted' to : canCel all C1:tY::.,.ar1d: c;,oliIl:ty
~ea lev1e4'),~811.eas.d,:,,!!u, 9rpayal)1";upon .the real. ~ropert' :1n ,'.,
,the; County qf"~O Angel.8",State ot Ce,Uforn1a, &88808ed l:n.;~e nameh'
ot ~ IiI.,/LEW;' te wt't. , ' ,"', ',';, '
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tots ~l:. ,32., 33 arid 34 .~~ .i~k 68 of Tract', ,"
No..~66,. per map 'recorded 1n DQ,ok 10-', pages ., .. I'
198"Q.nd 199,.otMaJi,lI",1n the otlice 0t the ,
Courity '~.ecdrdit~ ot said Couoty ; , . ' ' ,
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,.,. ' Th1:,~ prap~1ity was tormerly c1ty-owned and tax-eXElll!pt'.and
rev"fted t,o':~t~e.';g,l~Y upol1pure~.r'i1 tailure te complete: the.. pur-
ch&8e ,by'~~~l~.:.~~~:11l ,Deed .~ated Augu~t, ,~3;i 1965 and, recorc1e~ 1i1)3q:o~
D3091 page; ,269,.,: 1n ':the' Recorder '0 Oftlce~l on Octeber 28,1965.. The
.- ' t' .,..,....:~.", +,.... 1 -ver"-d to 'the'C1ty.' ,
"'!!'pr.ovemen 8 :'~n'J'~'I'",!,;:praper,..." a so.... ...
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Yours very truly.
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TO 1012-1 f C
California land ntle 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 p:lid for this policy, the number, the effective date, and amount of which afe shown in
Schedule A, hereby insures the parcies 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 da.mage 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 Schedulf' B or excluded from coverage in Schedule B or in the Conditions and Stipulations; 01
2. Unmarketabiliry of such title; or
3. Any defect in the execution 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
.t. Priority over said mortgage, 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;
b' ......"~h1\"'\'.-",' ISh d I A B d C d h C d" d S' I '
all su Ject, ho\\'~r:j...to t e provlsl<?{l~, 0 c e u es , an an to t e on ItlOns an tlpU atlom
hereto annexed;=-- ...~CE. AND "'~J. 1111
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.:::- <? .8>(\0 ?,~(r u....o.. t""'> j
::; ~ oe~ >}4"''(.''(Il1Elln>}W1~ness(.1f7.hereof, Title Insurance and Trust Company has caused its
;.<! ... $ ~ . " '.,< '" 0 ~ "d I b h II' db' d I h' d II'
% I.. e * )corporate:name'an sea to e ereunto a Ixe Y Its u y aut onze 0 Icers
~ ..., o~--'.r'.!:'<:"",,~""'7.-A. \, ~ \ Y-, v "'0 '.~
~ -.J 0 ~....3.-';;;.~\on'the date,shown'm Schedule A.
r, I- 0 ,a;;. ~~"lr--<'U)U' !':
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(I oo'"~. .--~f.-v< ::~:. ." 't-~ 00 "."."
'I, (0 00~r4TE 'IS u\)OOo ~".5
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1\1\\.clNGELE.S. ~..:
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Title Insurance and Trust Company
by ~~ r:SIDENT
Alles' ~ l1-~
' SECRETARY
CONDITIONS
AND STIPULATIONS
1. DEFINITION OF TERMS
The followmg terms when u5ed in this-
policy mean:
(a) "'and"; the land described. specific-
ally or by ct"ference, in..Schedule C and
improvements affixed [hereto which by law
constitute real property;
(b) "public records": those records
which impart constructive notice of matters
relating to said land;
(c) "knowledge": actuat knowledge, not
constructive knowledge or notice which
may be imputed to the Insured by reason
of any public records;
(d) "dare": the effective dare;
(e) "mongage": mortgage, deed of trust.
trust deed, or ocher security instrument; and
(f) "insured": the party or parties named
as Insured, and jf the owner of [he in-
debtedness secured by a mortgage shown in
Schedule B is named as. an Insured in
Schedule A, rhe Insured shall include (1)
each successor in interest in o'\Vnership of
such indebtedness, (2) any such owner who
acquires the estate or interest referred to
in this policy by foreclosure, trl1stee's sale,
or other legal manner in satisfacrion of
said indebtedness, and (3) any federal
agency or instrumentality which IS an in-
surer or guarantor under an insurance con-
tracr or guaranty insuring or guaranteeing
said indebtedness, or any part thereof.
whether named as an insured herein or not,
subject mherwise to the prnvisions 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 aO 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 insttumentality,
subject to all of the conditions ;lnd stipula-
tions hereof.
3. EXCLUSIONS FROM THE COVERAGE OF
THIS POLICY
This policy does not insure ;tgainst loss
or damage by reasons of the followlOg:
(a) Any law, ordinance or governmental
regulation (including but nor limited to
building and zoning ordinances) restricting
or regulating or prohibiting the occupancy,
use or enjoyment of the land, ot: regulating
the character, dimensions, or location of
any improvement now or hereafter erected
on said land, or prohibiting a separation in
ownership or a reduction in the dimensiDns
or area of any lot or parcel of land.
(b) Governmental rights of police power
or eminent domain unless notice of the
<:xercl~e of such rights appears iet the public
records at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described in
Schedule C, or ritle to streets, roads, ave-
nues, lanes, ways or waterways on which
such land abut~, or the ri~ht to maintain
therein vaults, runnels, ramp~ or any mher
structure or improvement, 01 any ri~hts or
easements therein unless Ihis policy speCIfiC-
ally provides that such property. right's or
easemencs are insured, except [hat If the
land abuts upon Dne or morc physically
open streets or highways thi~ policy insures
the ordinary ri~hts of abU[(!llF: owners for
access to one of such streCls or highways.
unless otherwise excepted or excluded
herein,
(d) Defects, liens, encumbrances. 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-,
qUlred an estate or interest insured by this
policy and not shown by the public rewrds.
unless disclDsure thereof in writing 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 I nsured 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-
DUt 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
cDnsisting 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 policy
Dr a sale of the estate or interest in said
land; or (2) for such action as may be
appropriate tD establish the title of the
estate or incerest 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 litigatiDn to final determlOation in
the court Df 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 tule or interest which
is adverse to the title of the estare or m-
terest or lien of the mortgage as insured,
or which might cause loss or damage for
which the Company shall or may be !lable
by virtue of this polity, or if the Insured
shall in gDod faith contract to sell the in-
debtedness secured br a murtgage covered
by this pohcy, or, I an Insured 10 good
faith leases or cDntractS lO sell, lease or
mortgage the same, or if the successful
bidder at a fDreclosure 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 nDt 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 norify the Company of any de-
fecr. lien or encumbrance insured a~ainst
which shall come to the kno\\-Iedge of the
Insured, or if rhe Insured shall not, in
writing. promptly notdy the Company of
any such rejectIOn by reason of claimed un-
marketability of title. then all liability of
the Company in regard to the subject matter
of ~uch action, proceeding or matter shall
cease and lermlOale; provided. however,
that failure to nDtify shall in no case
prejudice the claim of any Insured unless
rhe Company shall he 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 opiOlon may be necessary
or desirable to establish the ride of the
estate or interest or the lien of the mort-
gage as insured; and the Company may
take any appropriate action under the terms
of this policy whether or not it shall be
liable thereunder and shall not thereby
concede liability Dr waive any provision of
this pDlicy.
(d) In all cases where this policy per-
mits or requires the Company to prosecute
or provide fDr the defense Df any action
or proceeding. the Insured shall secure to
it the right to so prosecute or provide de-
fense in sUth action or proceeding, and all
appeals therein, and permit It 10 use, at it~
option, the name of the Insured for such
purpose. Whenever requested by the Com-
pany the Insured shall give the CDmpany
all reasonable aid in any such action or
proceeding, in effectinF: settlement, securing
evidt:nce, obtaining witnesses, or prosecu-
ting or defend 109 such action Dr proceed-
109, and the Company shall reimburse the
Insured for any expense so incurred
5. NOTICE OF LOSS - LIMITATION OF
ACTION
In additiDn tD the notices required under
paragraph 4(b), a statement 10 writ 109 of
any loss or damage for whICh it is claimed
the Company is liable under thiS pollcy
shall be furnished to the Company within
sixty days after such loss or damage shall
have been determlOed. and no right Df
action shall accrue to the Insured under
this policy until thirty days after such
statement shall have been furnl~hed, 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 period. Failure
to furnish such statement of 105s or damage,
or to commence such action WIthin the
time hereinbefore specified, shall be a con-
elusive bar against maintenance by the In-
sured of any action under this pDlicy,
6, OPTION TO PAY, SETTLE OR COMPRO-
MISE CLAIMS
The Company shall have the option to
payor setrle or compromise for or in [he
name of the Insured any elaim insured
against or to pay the full amOunt of this
policy, or, in case loss IS claimed under this
policy by the owner of the indebtedness
secured by a mortgage covered by this
polley, the Company shall have the option
to purchase said indebtedness; such pur-
ch~se, payment or tender of payment of
(Conditions and Stipulations Continued and Concluded on Lost Page of This Policy)
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TO 1012.1 AB C
California Land Title AMocJatlon
Standard Coverage Pollcy-1963
SCHEDULE A
Premium $
Amount $ 80,000.00
Effective
Date July 8, 1964 at 8 a.m.
Policy No, 6281507
INSURED
MARK D. LEFF and CITY OF ARCADIA, a municipal corporation.
1. Title to the estate or interest covered by this policy at the date hereof is vested in:
MARK D. LEFF, a married man, as his separate property.
2. The estate or interest in the land described or referred to In 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 any taxing 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 but which could be
ascertained by aD inspection of said land or by making inquiry of persons in possession thereof.
3. Easements, claims of easement or encumbrances which are 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 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.
E.G.
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TO 1012-1B ConI. C
California land Title AssociatIon
Standard Coverage Policy-1963
S C H E D U LE B - (Continued)
PART II
1. Gene~al and special county and city taxes for the fiscal
year 1964-1965, a lien' not yet payable.
2. A deed of trust dated June 17, 1964 executed by Mark D.
Leff, a married man, as his separate property, to United States
Holding Company, a corporation, trustee, to secure an-indebt-
edness of $72,000.00 in favor of City of Arcadia, a municipal
corporation, and any other amounts payable under the terms
thereof, recorded July 8, 1964.
....
....
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~
TO 1012-1-1056-1C C
American land Title Association lOCln Polley
AddltloMI Coverogo-1962
o.
Callfornltl land Title Association
Standard 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:
Lots 31, 32, 33 and 34 in block 68 of Tract No. 866, in the city
of Arcadia, county of Los, Angeles, state of California, as per
map recorded in book 16 pages 198 and 199 of Maps, in the office
of the county recorder of said county.
.
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This is not a survey of the land but is compilec/ for information by the
Title, Insurance and Trust Company from data shown by the official records,
.
.
.
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
the full amount of this policy, together
wIth all coStS, attorneys' fees and expenses
\\'hich the Company is obligated hereunder
fO pay, shall terminate all liability of the
Company h~reunder. In the event, after
ootite of claim has been given to the Com.
pany by (he Insured, the Company offers
to purchase ~:Iid indebtedness. the owner of
such indebtedness shall transfer and assign
,~ald indebtedness and the mortgas;::e securing
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 aiL
the actual 10,55 of the Insured and costs and
atlorneys' fees which the Company may be
obli,l(ated hereunder to pay. ,
(b) The Company will pay, in addition
to llny Joss insured against by this policy,
JII cos(s imvnsed upon the Insured in liti-
gation carried on by the Company for the
Insured. and all costs and attorneys' fees in
litigation cHried on by the In,>ured with
the written >luthorization of the Company.
(c) No claim for damages shall arise or
be maintaina.ble under this policy (1) if
the Company, after having received notice
of an alleged defect, lien or encumbrance
not excepted or excluded herein remove'>
such defect. lien or encumbranCt: within a
reasonable time after receipt of such notice,
nr '(2) for liability voluntarily a,>sumed by
the Insured in settling any claim or suit
wilhout wriUen consent of the Company,
or (3) 10 the event the title is rejected as
unmarketable because of a defect, lien or
encumbrance not excepted or e>..c1uded in
this policy, untll there has been a final
determinatioo by a coun of comperent juri'>-
dictIOn sustaining such rejection.
(d) All payments und>:r this pohcy, ex-
cept paymerHs made for costs, attocne)'s'
fees and expenses, shall reduce die amount
of the insura.nce pro tanto and nl) payment
shall be made without producing this policy
for endorsement of such paym('nt unless
the policy be lost or destroyed, In which
case proof of such loss or destruftion shall
be furnished to (he satisfanion of the Com-
pany; provided, however, If the owner of
.In indebtedness secured by a mortgage
shown in Schedule B is an Insured herein
then such payments shall not reduce rro
tanto the amount of the insurance afforded
hereunder as to such Insured. except (Q the
extent tha( such payments reduce the amount
of the indebtedness secured by such mort.
gage. Payment in full by any person or
voluntary satisfanion or release by the In.
sUled of a mortgage covered by this policy
shall terminate all liability of the Company
[0 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 (he conditions of
this policy the loss or damage shall be pay.
able withlO 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 to in
Schedule B hereof or any mortgage here.
after executed by the Insured which IS a
charge or hen on the estate or interest
described or referred ro in Schedule A, and
the amount so paid shall be deemed a pay'
ment to the Insured under this policy. The
provisions of {his paragraph numbered 8
shall not apply to an Insured owner of an
indebtednes,> secured by a mortgage shown
in Schedule B unless such Insured acquires
title to said estate or interes( in satisfaction
of said indebtedness or any part thereof.
9. SUBROGATION UPON PAYMENT OR
SEnlEMENT
Whenever the Company shall have senleJ
a claim under thiS policy, all right of sub-
rogation shall vest in the Company un-
affected by any ao of the Insured, and it
shall be subrogated to and be entitled to
all nghts' and remedies which (he Insured
would have had against any person or prop-
erty in respect co such claim had this policy
not been issued. If the payment does not
cover the loss of the Insured, the Company
shall be subrogated co such rights and
remedies in the proportion which said pay.
ment bears to the amount of said loss. If
l(ls~ should resuh from Jnr act of the In-
sured. such a(( shall not v{lid this policy.
but the COmp,lO}', in that event. shall be
reqUired to pay only that part of any losses
insured al.':ainst hereunder which shall ex.
ceed the 'amount. if .Iny, lost [0 the Com-
pan}' by reason of the impairment of the
fight of subrogation The Insured, if reo
quested by the Company, shall transfer to
the Company all rights and remedies
against any person or propertr nelessary in
order to perfect such right 0 subrogatIOn,
and shall permit the Company to use the
name of the Insured in any transaction or
Iitigahon involving such rights or remr:dies.
If the Insured is the owner of the 10-
debtedness secured by a mortgage covered
by this policy, such In!>ured may release or
substitute the persona] liability of any
debtor or guarantor, or extend or otherwise
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 indebtedness, pro.
vided such act does not result in any loss
of priority of the lien of the mort,l.':age.
10, POLICY ENTIRE CONTRACT
Any action or actions or ri~hts of action
that the Insured may have or may hflng
against the Company arisin.'l: Ollt of the
status of the lien of the mortga~e covered
by Ihis policy or the title of the eSlate or
irllerest insured herein must be based on
the provision,> of this policy,
No provision or condition of this policy
can be waived or changed except by .....riting
t"lldorsed hereon or attached hereto .signed
by the President, a Vice President, the
Secretary, an Assistant Secretary or other
validating officer of the Company.
11. NOTICES, WHERE SENT
All notices required to be given the Com-
pilny and any statement In wri(in~ rtquin:d
to be furnished the Company shall be ad-
dressed to it at the office which issued this
poilcy or 10 its Home Office. 433 South
Spring Srreet, l.os 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
FQUNOI!!:O IN \11113
.
..
POLICY
OF
TITLE
INSURANCE
'i'
'"
,
,
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 Office
433 South Spring Street
Los Angeles 54, California
'.
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