HomeMy WebLinkAboutD-0765
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J SPACE ABOVE THIS LINE FOR
RECORDE~)SE
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Bna~48121 PAEE222
PLACE INTERNAL REVENUE STAMPS IN THIS SPACE
J9I.A 10'~U
Corporation Grant Deed
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
Affix I. R. S. S..........................
FOR A VALUABLE CONSIDEHATION, receipt of which is herehy acknowledged,
The McCarthy Company
a corporation organized under the law5 of the slate of California
, does hereby
CHANT to The Record Owner
For the purpose of terminating the Covenants, Conditions and
Restrictians contained in the deed from The McCarthy Company
recorded in book ,508, page 40 of Deeds,
the real property in the City of Arcadia county of Los Angeles
state of California, descrihed as:
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Lots 1, 2 and 3 in Block 1, of Tr~ct 101, as per map recorded
in book 13, page 52 of Maps, in the office of the county
recorder'of said county.
&JBJECT TO I
1. A111:1ens. taxes. assessmeJIts. deeds of trusts. easEllDents.
rights, and rights of way of record.
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In Witness Whereof, said corporation has caused its corporate nam~ and seaLt~'.bi,~ffif~:h,:ielliF~II~
this instrument to be executed by' its.....___ViC8"'h._.....m...President and......Asa1atant...'";::.......:.:-::7.:..:::_.!:Sedetar\..~.. .
thereunto duly authorized. ;,' -::',..... . ~;:~ -...~.~~:?j.... <'~'\;.~~ ~
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Dated :....nm..nJm1e..3...19S5....h........_....nn. ..CClWAm':. :...'::.':'~.:~. .,-. :'<'i.:.
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.:.presldent'
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. . .., s.ti'?ecretary
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5TATE OF CALIFORNIA
COUNTY OF
SPACE BELOW FOR RECORDER'S USE ONLY
55.
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OllncT'Urw.J....19SS..........h........nhnh...nhnn
before me, the undersigned, a Notary Public in
and for said County and State. personally appeared
.nnhhn.nJamesnH..hMcCarlb;yhnhnhhhhhhh,
known 10 me to be the,...m.V1ce .'.............mPresident. and
n..n.nl'lw"14 A nKnighthh.h..nn.h n hn...hn..,
known to llII' 10 hr' the.Assistant...mn....sccrctBry of
tlll~ corporBti~n t~a-t eXI~cutcd the within instrument. and
known-<~l).~'tll!~t~.~ I~I: ,.the.. pC-Tsons, wl!o execut~d the within
instruincQt; on,.h~half'.of .Ihe corporation therein named. and
.ac~Q,i:n~eH.tl'd1 to.. ;1\C," illat~.such corporation execu!f'd th~
i withl~.itis[riiinent pursu~nt~to ,its 'by.laws or a resolution of
-''',its hoard <if ilir~tor(, . .
~. ~... 'v.~- ..... - ~,":,;.~
S l . WITNESS illY hand~antrofficial seal.
~ . MyLComlid.srrl,c$;:"~ldres JuJ:Y 23. 1955.
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".'::~.:(Seal .:' .......,..... -.. .~..........
. ~~1~. '. 4 ....... \I.\" _,.Not,r)' pu!llit in~and fnr I.:ud Co~nlr and SI:1te.
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DOCUMENT #0. _745
RECORDED AT REQUEST(}F
. TlTl[ ,J:jSliilA;iCE & TRUST CO.
JU~ 21 -Hiss AT. 8 A. M.
eoa~48121 PAEE222
IN OFFICIAL RECORDS
County 01 ~os ~gC}es, California
Fee $h___.__~L..:___.._.
MAME B. BEAITY. Couni;-R~~d';;
By ~ 1 Deput)-
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fITLE INSURANCE
AND f
TRUST COMPANY
FRESNO COUNTY (
1117 VAN NESS AVENUE, FRESNO
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INYO-MONO COUNTIES
149 NORTH EDWARDS STREET, INDt,ENDENCE
KERN COUNTY \'
1715 CHESTER AVENUE, BAKERSFIELD
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. ORANGE COUNTY
'............~416 NORTH MAIN STREET, SANTA ANA
R,VERSIDE COUNTY'
3940 MAIN ST.!1EET, RIVERSIDE
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. SAN DIEGO' COUNTY ..
1028 SE~OND AVENUE, SAN,DIECO 12
, SAN;LUIS OBISPO COUNTY
777 HfcUERA STREET, SAN LUIS OBISPO
....
SANTA BARBARA COUNTY
920 .ST ATE STREET. SANTABARBARA
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" TULARE COUNTY .
\204 WEST MAiN STREET, VI!iALIA
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. , , VENTURA COUNTY
471 EAST MAIN STREET, VENTURA
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Tille Order No.....,t3..?'.Y..?7../..........................
Escrow or Loan No..j.F...l.~..[f.O'.f:................
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WHEN RECORDED MAIL TO
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TITLE' INSURANCE
AND
TRUST COMPANY
INCORPORATED 1893
HOME OFFICE
433 SOUTH SPRING STREET, Los ANGELES 13
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CORPORA TION
GRANT DEED
TO:
DATED. ......................................................................
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TITLE INSURANCE
AND
TRUST COMPANY
INCORPORATED 1893
HOME OFFICE
433 SOUTH SPRING STREET, Los ANGELES 13
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TITLE INSURANCE
AND
TRUST COMPANY
FRESNO COUNTY
1117 VAN NESS AVENUE, FRESNO
INYO..MoNO COUNTIES
149 NORTH EDWARDS STREET, INDEPENDENCE
KERN COUNTY
1715 CHESTER AVENUE, BAKERSFIELD
ORANGE COUNTY
416 NORTH MAIN STREET, SANTA ANA
RIVERSIDE COUNTY
3940 MAIN STREET, RIVERSIDE
SAN DIEGO COUNTY
1028 SECOND AVENUE, SAN DIECO 12
SAN LUIS OBISPO COUNTY
7n HICUERA STREET, SAN LUIS OBISPO
SANTA BARBARA COUNTY
'920 STATE STREET, SANTA BARB.uu.
TULARE COUNTY
204 WEST MAIN STREET, VISALlA
VENTURA COUNTY
471 EAST. ~AIN STREET, VENTURA
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13044
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lSault of Amerira
NATIONAL ~~~~~~"'g ASSOCIATION
1234 South Baldwin Avenue
West Arcadia, Califarnia
DO. 7-3534
June 21, 1955
City of Arcadia
240 West Huntington Drive
Arcadia, Calif ornia
Gentlemen!
Escrow No. 153-8806
We enclose:
1. Escrow Statement.
2. Policy of Title Insurance No. 4308771 in the amount
of'22,500.00.
We wish to thank you for your patronage and we hape that we may
be of service in the future.
Please ackJ:1owledge having received the abave by signing and returning
the duplicate hereof.
Your deed will be mailed ta you direct from the office of the County
Recorder within the next three of faur weeks.
,
~~~
Escrow Officer
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~~UI.K. U4. ~UU':.&:U:..
NATIONAL 1o'}..'\m.1l'!l ASSOCIATION
West Arcadia Branch 153 Date June 21, 1955
ESCROW STATEMENT
Statement of
City of Arcadia
Escrow No. 153-8806
ITEMS DEBITS CREDITS
Deposi ted.by..l3;uorer-ll.n................:.................................n..............n...............................00 -- 22,hl 8 Q~
.
...............nn.nnnnnnnnnnnn.........................._.........____...._.n.nn..............__________.....__....._..__....... 22.l)OO
Consideration : Sale...............................................................................................m........,.. be
Loan....................................................................m....................................
Outside of Escrow............................................................................................m............... 1nn 00
Balance of Mortgage or Trust Deed of Record...........................................................
__oo__...u......__unnn.nnnnnnnunuuun...._____n...__...u.__..n.nn..............nn.........._....unn.n....____...un
Purchase Money Trust Deed.m.mm....m...............................m..............n.......................
Assessmen ts or Bands.......................................................................................................
Tax Ad j us tmenL.............................................m............................n.....n....m........m.........
Insurance Pro Rata....................m.......................n.........._......................m..m...................
.n............nn...n.nnunn.nn.......__unn__.nn.......................................................nn.nhhnnunu...nn
Rent Ad j ustmen t........m..................n..m.............................................................................
nnnnnn..___n_nu.__...................nnn....nn....u.....nuuu......____.......__.._...................................____.....
.n.nnnn_._..u...u..........u__.nnn..__........nnn.__.nunuuunununnnnnnnnn....u.u...uuuuu.........._.......
Interest Adjustment................m..............m............................................d.........................
.....-.----..............-..----.-.......-.-..-..............-......--..-.........................................................---...-..-....-
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............................-...........................................-.-..........-...........................-....-.............---.-..-.....
F. H. A. Loan Trust Funds............m........mm...........m....m..m............................m....m
....-......---..............-.----..--.--..-......-..............................................-.................-....-................-... . .
.........u.u.n....................n..................__.u.u..._.u............n.n...nnnnnn...........nu._uuu_................
Pro Rata Mutual Mtg. I ns..................................m.........m...m..........n.............................
Payment Mtg. or Trust Deedm...........n............mnm.........m....m....mmmm.m.m.m...m .
Int. on $............m.........m.@........% from............m...m...m.m.......to.............................n.
Payment Mtg. or Trust Deed.........................................mm.............m......m.mmm...m..
Int. an $..mmm..mm.....m.@........% frommm................................to............................d..
Commission..........................................._........._...................n..n..........__....n..n....... ....n.h.....
......_.n__.......n..............................u_.....n.._n.....n.nn....nnnnnnnn_u___..............n..._u_.....n.nnu_..
Assurance of Ti tle............................................................m...........................m.....m..........
Internal Revenue Stampsm..........m.m....................d...............m.....d......m.......m..mm....
Municipal Lien Report - Tax Service Contract...........n....m................n..mmm..........
Reconveyance Fee.mmm..mm.._.m...................................mm.mm...mm........................m
Recording.............m..........mmmm.m.m..m...........mmm.mm.m....m.............................mm..
n._.n___nunu_u...uunnn...u______....._...................._u__u.n...__.n...__n.__..._.._......u......_.n.....................
....................__..n..n.._...nn......__.uu__.n...nu..._...nnu.__........................._...n.........nn_nu._.__u__.nn.
..nh...n............... ......u..uu............n.....__.......__....__..........._....__..u..u__....n.....__........_............._...
......_...........u...........n.....n.nn.......nnn.unn......n..................._..____.u.......nnn.u_nuuunun.nnun...
........__........................................n....................u.nunu.........................n........................n.....nn
_....__...............n...n.n.......nnnnnn.n......................uu....................................nnnnn......nun.......
Taxes....................mm_.m..m.....m.....m.mm...................m........................m..m.m.....mm...
Insurance Endorsementsm....m.................m.....m......n.........d............m..........m....m..m..
Notary Feesmm......................................................................................................m........... .
Fee for Preparing Documentsm.mm........m..mmm....m.....m...m......................mm.......
u.nn.__....................._......__.....n.nunnnnn.......u___.n.n__nnn.nn........._......__......_..__.._...... ......_.......
.............uuununn__nnnnnn.....u..u...n__nn.....___nn.....u..unnu____..n....n..n..____nnnnn.......__nn......
...____un....__..nu.n. ............__...............__............__....nnnuuunnnn..n_______.n.n.n..................._......_n
Buyer's Service Fee..m...........mm..m..........m.............................m...u...mu.......'d."""U'."
Escraw Fee...........m....m...m.mm..u...mmmu..u..................u......umm...mummm................ It 00
Balance Due..........................mm...muummm.......................m......d............m.....................
Our Check to Balance............................m.....u......u............... ...........................................
TOTA LS 22518 00 22 ,518 00
RETAIN FOR TAX PURPOSES
"'nl'_Q('~ lO_!l"l
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1012 6-53
California land TlIle Auoclotlon
Standard Co....roll. Policy form
Copyright 1950
Fee $ /0 ;(,.~
POLICY OF TITLE INSURANCE
ISSUED BY
TITLE INSURANCE AND TRUST COMPANY
OF LOS ANGELES
Title Insurance and Trust Company, a corporation, of Los Angeles, California, herein called the Com-
pany, for a valuable consideration paid for this policy of title insurance, the number, date, and amount
of which are shown in Schedule A, does hereby insure the parties named as Insured in Schedule A,
together with the persons and corporations included in the definition of "the insured" as set forth in the
stipulations of this policy, against loss or damage not exceeding the amount stated in Schedule A which
the insured shall sustain by reason of:
1. Title to the land described in Schedule A being vested, at the date hereof, otherwise
than as herein stated; or
2. Unmarketability, at the date hereof, of the title to said land of any vestee named
herein, unless such unmarketability exists because of defects, liens, encumbrances,
or other matters shown or referred to in Schedule B; or
3. Any defect in, or lien or encumbrance on, said title, existing at the date hereof, not
shown or referred to in Schedule B; or
4. Any defect in the execution of any mortgage or deed of trust shown in Schedule B
securing an indebtedness, the owner of which is insured by this policy, but only
insofar 8S such defect affects the lien or charge of such mortgage or deed of trust
upon said land; or
5. Priority, at the date hereof, over any such mortgage or deed of trust, of any lien or
encumbrance upon said land, except as shown in Schedule B, such mortgage or deed
of trust being shown in the order of its priority in Part Two of Schedule B;
all subject, however, to Schedules A and B and the Stipulations herein, all of which
schedules and stipulations are hereby made a part of this policy.
In Witness Whereof, Title Insurance and Trust Company has caused its corporate name and seal to be
hereunto affixed by its duly authorized officers on the date shown in Schedule A.
TITI.E INSURANCE AND TRUST COMPANY
9J( o/~taC t2ue.r
_ PRESIDENT
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by
Attest
SECRETARY
KAB
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101211. 8..53
California land lltt. Auodotlon
Srondord Coverelg_ Policy Form
Copyright 1950
SCHEDULE A
Amount $22,500.00
Date
June 21, 1955 at 8 a.m.
Policy No.4 308771
INSURED
CITY OF ARCADIA, a municipal corporation.
1. The title to said land is, at the date hereof, vested in:
CITY OF ARCADIA, a municipal corporation.
2: Description of land in the county of Los Angeles, state of California, title to which is
insured hy this policy:
Lots 1, 2 and 3 in block 1 of Tract 101, in the city of
Arcadia, county of Los Angeles, state of California, as
per map recorded in book 13 page 52 of Maps, in the office
of the county recorder of said county.
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1012B 8-53
California land Title Auodallon
Standard Cov.rag. Policy form
Copyright 1950
SCHEDULE B
This policy does nol insure against loss by reason of the matters shown or referred to in this Schedule except
to the extent that the owner of any mortgage or deed of trust shown in Part Two is expressly insured in
paragraphs numbered 4 and 5 on page 1 of this policy.
PART ONE: This part of Schedule B refers to matters which, if any such exist, may affect the title to said
land, but which are not shown in this policy:
1. Taxes or a!5~ment8 which are not I!hown as existing liens by the records of any taxing agency or by the public
records; and easements. liens or encumbrances which are not shown by the publie records.
2. Rights or claims of persons in poMeS5ion of said land which are not shown by the public records.
3. Any fact8, rights, interests. or claims which are not shown by the public records but which could be ascertained
by an inspection of said land, or by making inquiry of persons in possession thereof, or by a correct survey.
4. Mining claims, reservations in patents, water rights. claims or title to water.
5. Any laws, governmental acts or regulations, including but not limited to zoning ordinances, restricting, regulating
or prohibiting the occupany, use or enjoyment of the land or any improvement thereon, or any zoning ordinances
prohibiting 8 reduction in the dimensions or area, or separation in ownership, of any lot or parcel of land; or the
effect of any violation of any such restrictions, regulations or prohibitions.
PART Two: This part of Schedule B shows liens, encumbrances, defects and other matters affecting the title to
said land or to which said title is subject:
1. General and special county and city taxes for the fiscal
year 1955-1956, a lien not yet payable.
~2. Right of way for water pipes as reserved in a deed
" from E. J. Baldwin to Henry Anderson, dated January 25,
~1888, recorded in book 388 page 33 of Deeds.
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1012-( 9.53
CollfornlCl lond Title Auoe1ollon
Stondard Coveroge Policy Form
Copyrlghl1950
I. SCOPE Of COVERAGE
Thi, policy do" nol inture .&.inll, and the Company
will nol be li,ble for 1001 or dam'I'" eTeA,,,,d by liT
,d,inl oUI of Iny Ollh", lollowina:: (a) defectl, lien.,
claim., encumbrancl'Il. or olher m.llc~ which '"olt in
no p<,cuniny 10" to the iOIOT",d; (b) defectl, Iielll,
enClImbr.nce., Or olher mlllen crell..d or occurril1J
,ubttquenl to tbe d,lt: h..r~(; (c) dde<:l.. lielll,
",neumhr.ncl'll, or olber mlllen cruted Or luller",d by
the inlured claim in, luch Iou or dama,,,,; or (d)
uefeclI, lien., daillUl. encumbrllncel, or other mallen
niltin, at the dlle alibi. policy Ind known to the
Intllr...! c1aimin, Illch 10" aT damalC, ellher I' the
dlle 01 tbi. polic)' or Illhe dale .uch Insured cI.im.
.nt.cquiredan etlUe or inleresl inlured by Ihi. policy,
Unlet.ltleh defect,lien, el.im, encumbr.nce or olher
m,"er .b.1l h.'e been dilcl~ed to the Comp.ny in
wrilin, prior 10 Ihe illll.nce of Ihi. policy or sppeared
.t Ihl! d.le of Ihil policy on Ihe publie record.. Any
rl.ht. or defenle. of the Comp.ny 'I.in.t . n.med
inlured Ih.lI be equ.lly .vail'ble .pin'l .ny penon
or corpor.tion who .h.1l become .n in.ured hereunder
...uccellor ol.uch n.med in.urcd.
2. DEfENSE OF ACTIONS. NOTICE OF "'CTlONS
01 CL"'IMS TO BE GIVEN BY THE INSUIED
The Comp.ny II ill own co.t .b.1l defead Ihe in.ured
ia .\1 lilil.lion con.ialin. of .ctionl or proeeediap
'l.in'llhe In.ured, or defea.", r",lr.iniD, orden, or
injuaclionslnlerpond ..Iinlt I foreclOllure or Hie of
Hid Jlnd m ..ti.f'ctloll 01 Iny mdebledn"'I, Ihe
owner of which I. in.ured by Ihil policy, which lili...
lioa is founded upon . defect, lien, eacumbrance, or
olher m.ller in.urlld 'I.inlt by Ihia policy, .nd may
punue .uch liliplion 10 lin.1 determin'lion m the
court of IUI rellOrt. In ea.e .ay such Iili,'lion .h.1I
become kaown to .ny in.ured, or m c..e knowled.e
.b.1I come 10 .ny in.ured of any cI.im 01 litle or
mler...t wbich is .dyene to Ihe litle II in.ured or
wbich milbt eaule Iou or d.male lor' which Ihe
C<lmp.ny .b.1I or may be Ii.ble by yirlue of Ibis
policy, .uch in.ured .b.1l notify Ihe Comp.ay thereof
in wrhin,. If .uch nolice .h.lI not be liyea 10 Ibe
Comp.nyat le," two d.y. belore the 'ppe.r.ace d.y
in .ny luch lilia.lio.., or if .uch in.ured .h.lI nol. ia
wrllln" promptly nOlLly Ihe Comp.ny 01 .ny defll<:l,
lieD, encumbr.nce, or olher m.ller in.ured .,.10.1, or
01 .ny .uch .dye,r... claim which .h.1I com.. 10 the
"Dowled." of .uch in.ured, in relpecl 10 which loe.
or'd.m.,e i. .pprehended, Ihen .11 Ii.lollily 01 Ibe
Comp'DY .. 10 each ia.ured buin. .uch "aowled.e
.h.1I celie .nd termin'le: pro~ided. boweyer. Ih.1
f.ilure 10 so notify tbe Comp.ny .b.ll in no ea... prej.
udice the c1.im of .ny iQlured un]ell the Complny
Ih.lI be .ctu.lly prejudiced by .uch f.ilure. The Com.
p.ny .b.il h"e Ihe rl.bl 10 Inllilule .nd proeecute
.ny .ction or proceedin. or do 10Y olher .CI wltleh,
ill ill opinioo, may be neceslllry or detlnble 10
e.t.bluh Ihe title, or .ny In.ured lien or chl..e, II
in.ured. In .11 CII" where Ibis policy permit. or
requirea Ihe Comp.ny 10 prOlecule or defcnd .ny
,cllon or proceedlnl, the In.ured .h..1I .ecure 10 It ill
wrilin. Ihe rlahl 10 .0 pl'Olecule Or defend .uch Idioa
or proeeedin.. .nd .11 Ipptal. therein, .nd permit il
10 nle,.1 il. oPlion, tbe DIme of the ia.ured for such
purpoae. Wheaeyer requ"'led br the Company the
inaured Ih.1I ...UI Ibe COmP'DY in aey .uch .ctioa
or proceedin., ill eSeelin. .ettlement, .ecurill. ni.
deoce, obtainiol wiln....e.. pr_cutio, or defendll!'
.ueh .ction orproceedin" lo.uch nlent:.nd il! neb
m.noer .. II deemed detir.ble by the Comp.ny. .od
Ibe Comp'ny .h.lI reimbune Ibe la.urlld lor .ay
npcnle 10 incurred. The Comp.ny .h.lI be lubropled
lo.nd be,entitledto.llco.t"Dd.uomey,"ee:aill.
STIPULATIONS
(Urtlld or upeoded by the Comp.ny. which may be
recover.ble by Ibe In."red in .ny lilil.tio"" carried
on by the Complny on hehllf of tbe illlured. The
word ....nowl"d,,,.. in Ihu. par.vaph mean. actu.1
knowledle, .nd doea nol rel"r to eon.tructi~e knowl.
edee or notice whlcb m.y be imput"d 10 Ihe in.ured
by the publie recorda.
3. NOTICE OF LOSS. L1MIT...TlON Of "'CTION
A .tatemenl In wrilin. of Iny 10" or dlmqe for wbich
11 ill c1.imed the Comp.ny i. Ii.ble under tbi. policy
.b.n be fumi.h"d 10 tbe Comploy wllhln .isly d.y.
.fter .uch lOll. ord.m..e .h.ll hne been ..eertaioed.
No .ction or proceedinllor Ibe recoYCt]' of .ny .uch
]011 or d.m'le .ban be in.tiluled or m.ial.ined
.,.intl the Comp.ny unli! .fter full compli.ace by
Ibe io.ured wilh .Ii the coodilionl impOled on tbe
in.ur"t1 by tbi. policy. nor unle.. c~mmenc"d wllbin
Iwe]ve montbl .lter receipl by Ihe Comp.ny of lucb
wriUeD.tale_t.
4. OPTION TO ....V. SlnLE, 01 COMPIOMISE
CLAIMS
Tbe Comp'ny re.crve. Ihe oPlion 10 PlY, .eule, or
eompromi.e lor, or ill the n.me of. the inlured, .oy
c].im il!lured 'I"n.t or 10 p,y Ihu policy In full .t
.ny lime, and Jnyment or lender of p.yment of the
full .mount 01 Ibi. policy, lo,etber wilh'\1l .ccrued
coal. whicb tbe Company I. oblia'.led hereunder to p.y.
Ib.lI terffilll.le .n li.bility of tbe Comp.ny here.
under, inclodin. .11 oblil'lionl of Ibe Comp.or wllb
respect 10 .nylililation p"odin, .nd .ublequ"nl eotts
Ihcreof.
S. SUBIOG...TlON U'ON 'AYMENT 01 SlnLl.
MINT
Wbeaenr tbe Comp.ny .h.1I hue leuled . c1.lm
uoder tbi. policy, il .b.1I be .ubrOl.ted 10 .nd be
entilled 10 .n rlabt., .ecurili..., .nd remedi... wbicb
tbe iosured would hne b.d ...inll .oy penon or
propcrly in retpect 10 .uch claim, b.d Ibia policy nOI
been ia.ued. If Ihe p.yment doea oat COyer Ibe 1011
of tbe inlur"d. the Comp.ny .h.lI be 'Ubro..led to
.ucb rilhl., ...cunlies. .nd remedi", ia tbe proportioo
wbich aaid p.yment, be.r. to the .mount of ,"d 10'"
Ineilherevenltbeinlured.b.lltr.n.ler,ore,u'''lo
be tr.nsferred. to Ibe Comp.ny.uch ri,ht., .ecurilles.
.nd remedies. .nd sh.ll permil Ihe Compuy to u.e
the name 01 the in.ured II! .ay Ir.nuction or Iiuptioa
iDyolYiltllueb rilbll, .ecurili.... or remedlea.
6. OPTION TO ....y INSUIED OWNEI Of IN.
DElTEDNESS "'ND BECOME OWNER Of SECUIITY
The Cumpany bu Ibe rilhl and option, ill cue 'I!Y
ION ia c1.imed uoder thi. policy by.n in.ured 01l'aer
01 .n iodebledn",. ."cured by mortll,e or deed of
lrutt, 10 p,y .uch in.ured Ihe iodebledn.... of Ihe
mOrlppr or lru.tor uader uid !Qortl.,e or d~d 01
tratt, tOJO'!lher witb .11 COlt. wbich the Comp.ny ia
obllpted hereunder 10 p,y, ill wbleh cue Ibe Com.
pany lhall become the owner of, .nd .ucb ia.ured
.h.lI at onee uaian .nd tnn.fer 10 the Comp.ny, uld
monlPle or dlled of lra.t .nd Ihe iIldebledn"'l Ihere.
by .ecured, .nd .ucb p.yment sh.n lerminale .11
liabilily under Ihl. poliey to .uch iIl.nred.
7. ....yMENT Of LOSS AND COSTS Of L1T1G...TION.
INDOISEMENT Of ....yMENT ON POLICY
Tbe Company will p.y, ill .dditlon 10 .I!yl_ in.ured
.pil!ll by tbi. poliey. .U COlli ImpOled OpOD tbe in.
.ured in Iltiplion carried oil. by tbe Comp.oy lor the
in.ured. .nd ID htiplion eanied on by Ibe in.ured
with Ibe wrilten .uthoriulion of the eo""pany, but DOl
....
I
,
otbenri.e. The li.bility of the Comp.ny under this
policy.b.n in 1I0Clle nc"ed. in.II,lhe,clu.ll_
, ollhe inlured .nd co.1I which Ihe Comp.ny I. ohli..ted
h..reuoder 10 p,y. .nd in no u.e sh.lI IlIcb tol.l
li.billty esceed the .mounl of this polley lad ..id
cott.. All paymenl. under tbi. policy .h.1I reduce tbe
.mount 01 tbe in.ur.nce pro l.nlO, .nd p'y""enl of Ion
or dama,e to .n in.ured owner of indeblcdn.... lball
reduce. 10 tbat e:llIent! tbe liabilily 01 tbe Comp.oy 10
Ihe insured owner of ..id I.nd. No p.ymenl m.y be
dcm.nded by.ny in.ured wilhout producin,lhi. poliey
lor iodonemenl 01 luch p.yment.
.. MANNER OF '...YMENT OF LOSS TO INSUIED
Loa. und..r Ihll policy ,h.lI be p.y.hle. lint. 10 .ny
In.und owner of indebledn.... lecured by mortPle or
deed of trust.hown in Schedulc B. in order of priOrily
Iherein .hown, .nd il .uch owner.hip yc.t. in more
Ih.n on", p.ym~nl .h.ll be m.de ral.bly II their
r~"pective int'lr...'. m.y .ppear, .nd there.hef .ny
loa. .h.1I be p.y.ble to Ihe olher in.ured, .nd if more
th.n one, Ihen to such in.ured r'l.bly II Ibeir re.pec.
live inter~'" m.y .ppe'r. II tbere be Do lOch iIl.ured
owner of Indebtedn~.., .ny lOll Ib.1l be p.y.bl.. to
Ibe in.ured, .nd if more th.n on", to .uch In.ured
ral.bly II their retpecliye inleretla IDly .ppe.r.
9. DEFINITION OF TERMS
Tbe lollowin. term. whea u.ed in thia pollcy me.n:
(.) "o.med in.ured": the penon. .nd corpor.tiona
n.med .. in.ured in Scbedule A 01 tbl. policy: (h)
"Ihe inlured"; .ucb n.med i".ured to,ether with (I)
e.ch .uec....or in ownenhip of .ny indebledD....
.ecured by .ny mortla,e Or deed of trUII .hown ill
Scbedule B. tbe owner 01 whicb iIld.btedocu is
n.med berein II .n insured, (2) .ny .uch owaer or
.ucc",.or in oWDenhip of .ny .ucb indebledn.... who
.cquir'" Ihe I.nd d...cribed in Schedule A or .ny
p.rt Ibereof. by lawful mean. in ..liaf.dioD of ..id
indebtedll.... orlny parttbereof, (3) .ny.onmment.1
.,,,ncy or iIl.trumentalily .cqulrin, I.id I.nd under
In Insor.ltce cOUlr'ct or l\I.r.ntee io.uriol or p.r.
.aleein, Hid indebtedn.... or .oy p.rt Iberllof. .nd
(4) .ny penOD or corporation deriyiD,'D eat.te or
inlere.t ia Hid I.nd...n heir or deyi...e 01. n.med
in.ured or by rellon of Ibe dlltolulion, merler, or
con.olid'lion of . corpor.te n.med in.u~d: (e)
"I.nd": Ihe I.od detcribed .ped.6.c.lIy or by refercoce
in Schedulll A .nd improvement. .ffised tbereto whicb
by I.w cOD.lilule real property; (d) "d.le": the
euet d.y. hour .od minulll.pecllied in Ibe fir.tline
of Schedule A (ani.... Ibe contest clearly require. .
ditlerent me.nio,); (e) "I':lin. lIency": the St.te
.nd each cDuaty, elly .nd couaty, cily Ind di.trict
In wbicb Hid I.od or .ome p.rt tbereol I. .ilUated tb.t
]e..i", IU'" Or .......menl. on re.1 property: (I)
"public record.": thOle public record. wbleb, under
Ihe recordlnl l.wI. imp.rt con.lrucllye nolice of mat.
len rel'lia. to lIid IaDd.
10. WIITTEN INDOISEMENT IEQUIIED TO
CHANGE POLICY
No provi.ioa or cood,tioa of Ihia poliey cao be w.Iyed
or ch,oled e.ccpl by wriliq indoraed ber~OD or .t.
I.cbed berelo .ilDed by Ibe Pre.ident, . Vice Pr"i.
dent, the Secretary, or &D Aaaiatant Secrelary of Ihe
Company.
I'. NOTICES. WHilE SENT
All aOlic... required 10 he ,iyen the Comp'DY .nd any
.t.lemenl in writiD, required 10 be fumi.bed Ibe Com.
p.ay sh.n be .ddrcwed to it II the office wbi~b i..ued
tho. policy.
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