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HomeMy WebLinkAboutD-1027 Laguna Lake Golf Course Recorded 09/20/1978lREGQRDING REQUESTED BY CUESTA TITLE GUARANTY COMPANY AND WN[N R[COROZO MAIL TO - F 71 Name City of San Luis Obispo Addrass City & Sie» MAIL TAI STATEMENTS TO F Nava Same as above street Address - City a _ State I ASSTS. POL. NO. TO 406.2 CA (4 -73) A3 W rn� -- 0 54oL,12a.n r - 00000.00CHEC:: om No. 44815 . OFFICIAL RECORDS SAN LUIS OBISPO CO., CAS. SEP201978 WILLIAM -E. ZIMARIK COON Y RECORR 'nME DE8 : 01 AM. SPACE ABOVE THIS LINE FOR RECORDER'S USE Corporation Grant Deed L THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY, The undersigned grantor(s) declare(s): Documentary transfer tax is $ _ - - ( ) computed on full value of property conveyed, or ( ) computed on full value less value of liens and encumbrances remaining at time of sale. 4C) Unincorporated area: ( ) City of and FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, ROCKWELL FEDERAL CREDIT UNION, formerly NAA EMPLOYEES FEDERAL CREDIT UNION a corporation organized under the laws of the state of hereby GRANTS to CITY OF SAN LUIS OBISPO, a municipal corporation the following described real property in the County of San Luis Obispo , State of California: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF 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: June 30, 1978 ROCKWELL FEDERAL CREDIT UNION STATE. OF CALIFORNIA SS. COUNTY OF Los �\n ge 5 es On - . -Aiia st IS, 1478 before me. the under - signed. a Notary Public in and for said State, personally appeared known to me to be the Thomas .T_ Whalen President, and Vesta K_ Calhrnn known to me to be Secretary of the Corporation that executed the within Instrument. known to me to be the persons who executed the within Instrument on behalf of the Corporation therein named, and acknowledged to me that such Corporation executed the within Instru- ment pursuant to its by -laws or a resolution of its board of directors. WITNESS my hand and officia?se . Signature eB a--- L ✓h Y President By Secretary OFFICIAL SEAL ELSIEC. FORESTER J NOTARY PUBLIC — CALIFORNIA PRINCIPAL OFFICE IN •� LAS ANGELES COUNTY Mi Commission Expires Becember 22, 1979 Elsie C. Forester Name (Typed or Printed) (This awa fm' utTriaf notarial tics(( Title Order No. 17774 Escrow or Loan No--.--6471-PP. MAIL TAX STATEMENTS AS DIRECTED .-ABOVE LVOL 210 1 PACE 57 a D m oz o �z n K —1 r m �m >M 0 M ii q 6 ® ®z�A O 0 m-i mo o ®z�p O r* n �V� '♦ V 0m O r. me Dm m rb CML v D r dl > CD �, 0 rm r C. -< �9 b m �Z t% �• < m n m m n K —1 v r M �� M 0 � � zD r1 o ®z�p O 0 V LL Dm m rb m e v r- ---I c m m Ye> Dr rm �Z t% �• r cn m m < m n m D D Fn n Z . C �� LLI a z �> < z r9 T E UBIT "A" • That portion of Lot 59 of the Subdivision of the Ranchos Canada de Los Osos and La Laguna, in the County of San Luis Obispo, State of California, as per map filed in Book A, Page 83 of Maps, in the office of the county recorder of said county described as follows: BEGINNING at the most Northerly corner of said lot, being designated on said map as "S189 "; thence along the Northeasterly line of said lot, South 44° 00' 35" East 1246.64 feet to the TRUE POINT OF BEGINNING; thence along said Northeasterly line, North 44° 00' 35 ".West 842.64 feet; thence South 45° 59' 25" West 160.00 feet; thence South 440 00' 35 ".East_ 200.00 feet; thence South 50 40' 00" East 150.00 feet; thence South 44° 00' 35" East 90.00 feet; thence-South 45° 59'. 25" West 220.00 f?et; thence South 36° 25' 00" West 544.00 feet; thence South 4110 12' 00" West 368.70 feet; thence South 23° 41' 00" West 87.00 feet; thence South 25° 52' 00" East 170.00 feet; thence North 85° 04' 00 East 90.00 feet; thence South 47° 22' 00" East 109.70 feet; thence South 50 30' 00" East 106.00 feet; thence North 58° 04' 00" East 140.00 feet; thence North 15° 46' 00" West 77.00 feet; thence North V 25' 00" West 92.00 feet; thence North 47° 03' 00" East 172.50 feet; thence. North 830 30' 00" East 77.00 feet; thence South 560 08' 00" East 110.00 feet; thence South 30° 35' 00" East 32.00 feet; thence South 10 40' 00" East 118.00 feet; thence North 550 14' 00" East 140.45 feet; thence South 66° 24' 00" East 100.00 feet; thence South 50 20' 00" East. 90.00 feet; thence South 26° 45' 00" East 52.00 feet; thence North 630 15' 00" East 70.00 feet; thence South 86° 45' 00" East 120.00 feet; thence South 51° 31' 00" East 90.00 feet; thence North 75° 12' 00" East 282.44 feet; thence North 18° 42' 00" West 355.00 feet; thence North 50 19' 10" East 160.00 feet; thence North 680 14' 45" West, to a line that is parallel with and distant Southwesterly 330.00 feet, measured at right angles, from the Northeasterly line of said Lot 59; thence along said parallel line, North 44° 00' 35" West to a line bearing South 45° 59' 25" West from the TRUE POINT OF BEGINNING; thence North 450 59' 25" East 330.00 feet to the TRUE POINT OF BEGINNING. tXCEPT T::-M EFRO.I that portion of said land included within the lines of the land described in the deed to Congregational Conference of Southern California and the Southwest, recorded January 30, 1963 in Book 1223, Page 239 of Official Records, in the office of the county recorder of said.county. LVOL2101 e4u 58 t. N C E R T I F I C A T E O F A C C E P T A N C E THIS IS TO CERTIFY that the interest in real property conveyed by the Grant Deed dated ✓ , 1978 from Rockwell Federal Credit Union, formerly NAA Employees Federal Credit. Union to the CITY OF SAN LUIS OBISPO, a Political Corporation, is hereby accepted by the undersigned officer on behalf of the City Council pursuant to authority conferred by Resolution No. 549 (1959 Series), recorded May 26, 1959, in Volume 1002, Official Records, Page-292, San Luis Obispo County, California, and the Grantee consents to recordation thereof by its duly authorized officer or his agent. Date.: August 4, 1978 ATTEST: J . itzpatrick, City Clerk CITY OF SAN LUIS OBISPO Li L j "1 z AUG 81978 CUESTA TITLE GUARANTY CO. END Of DOCUMENT LvoL2101 PAGE 59 CUESTA TITLE T. L. BERRYHILL VICE PRESIDENT &.MANAGER • f CUESTA TITLE GUARANTY COMPANY 863 PACIFIC STREET BOX 1265 SAN LUIS OBISPO, CALIFORNIA 93406 TELEPHONE 805/544.1860 City of San Luis Obispo P.O. Box 321 San Luis Obispo, CA 93406 Re: Escrow #6471 -PP Rockwell Credit Union Gentlemen: September 20, 1978 We have completed the above numbered escrow in accordance with your instructions. Your recorded Grant Deed will be mailed to you from the County Recorder's office in a few days. Please find enclosed the following items: 1. Escrow closin statement for your records. 2.. Receipt #12159 for the sum of $10,000.00. We trust that this transaction has been handled to your entire satisfaction and that we may have the pleasure of working with you again in the near future. Very truly yours, CUESTA TITLE GUARANTY COMPANY Phyl s Ponomaroff Escrow officer enc: 2 jml /PP Title policy to follow shortly. 0• c 10000.00 + 252897.75 + 262897.75 260000.00 + 189.75 + 1625.00 + 1083.00 + 262897.75 ESCROW STATEMENT CUESTA TITLE GUARANTY CO. Escrow No. 6471 -PP SELLER - BORROWER 863 PACIFIC STREET BOX 1265 ' SAN LUIS OBISPO, CALIF. 93406 TELEPHONE 805/544 -1860 Laguna Lake Golf Course Property La BUYER - LENDER ROCKWELL CREDIT UNION CITY OF SAN LUIS OBISP( Debits Credits ITEMS Debits Credits PAID OUTSIDE OF ESCROW TO DEPOSIT 10,000 0( DEPOSIT 252,897 7' DEPOSIT NEW LOAN PROCEEDS DEMAND FOR DEED ..260.000 00 DEMAND FOR TRUST DEED NOTE LOAN OF RECORD —BALANCE AS OF: POLICY OF TITLE INSURANCE ATA TITLE INSURANCE DOCUMENT STAMPS RECONVEYANCE FEE TAX SERVICE RECORDING DEED RECORDING RECONVEYANCE RECORDING TRUST DEED RECORDING ASSIGNMENT RECORDING RECORDING CITY AND COUNTY TAX FOR BONDS ESCROW FEE — 189 75 LOAN TIE -IN FEE DRAWING DEED DRAWING TRUST DEED DRAWING ASSIGNMENT DRAWING OBTAINING BENEFICIARY'S STATEMENT r OBTAINING DEMAND PRORATE AS OF: INSURANCE PREMIUM $' TO INSURANCE PREMIUM $ TO INT. ON $ AT FROM _ INT. ON $ AT FROM TAXES AT $ 1/2 YR., PAID TO: TAXES AT $ /2 YR.. PAID TO: RENT FROM 8 -1 -78 TO 9- 1 -78AT $ 1 625.00 PER MO. 1,625 00 RENT 9 -1 -78 to 9 -20 -78 at $1,625.00 per month 1,083 00 LOAN TRUST FUND ADJUSTMENT AGENTS COMMISSION PAYMENT TO: CHECK HEREWITH BALANCE DUE CUESTA TITLE GUARANTY TOTAL 262,897 L5_1 262,8977E :;T -112 Dare_ September 20, 1978 By_ J. Lewis Escrow V =rCUESTA CUESTA TITLE GUARANTY COMPANY. TITLE _ 889 PACIFIC STREET • TELEPHONE 803/744 -1060 • SAN LUIS OBISPO. CALIFORNIA 89401 - • • Cuesta Title Guaranty Company Re: Your No. 6471 PP /City of San Luis Obispo Our No.. 17774 Attention: Phyllis Gentlemen Supplementing our original report relative to the above - numbered escrow and title order, we wish to advise you of the following: RE: Exception No. 4 of Preliminary Title Report dated June 27, 1978, a' Notice of the Pendancy of said action was recorded October 4, 1968 in,:Book 1492 Page 463 of Official Records, San Luis Obispo County. r' We will require that a release of said notice be recorded in this County. There are no further changes as of July 3, 1978, at 7:30 A.M. Very truly yours, CUESTA TITLE GUARANTY COMPANY ack L. Meyer Tit Officer 7/28/78 JLM /blw CT -105 %6c� = PAGE 1 _ ' • PRELIMINARY -R P COSTA T= GUA UIN' '` COMPANY 863 PACIFIC STRW &SAN UJIS OBISPQ, CALIFORNIA 93402 (80'1544 -ISM .. _ - - - _ - - . - is •�'�. Attention: Cuesta Title Guaranty Company Your No. Phyllis CIZq OF SAN .{ .Our N .30 o. 4647771 PP /LEIS OBISPO - - 7774 4 C' L ' _ In response to the above a 'referenced application for policy of title insurance, - Chicago Title Insurance_ Company hereby reports that it is prepared to issue, or cause to be issued, as of the date hereof, a California Land Title Association Standard Coverage form Policy-of Title Insurance describing the land and the estate or interest therein hereinafter set forth; insuring against loss which may be sustained. by reason of any defect, lien or encumbrance not shown or referred to as an Exception below; or not excluded from coverage pursuant to the printed Schedules, Conditions and Stipulations of said policy form. This report (and any supplements or amendments thereto) is issued for the purpose of facilitating the issuance of a polio of title insurance. Dated: June 27. 1978 at 7:30 A.M. 2W_, -P .x . Jack L. Meyer, Title Officer The estate or interest in the land hereinafter described or referred to covered by this report is: A Fee Title to said estate or interest at the date hereof is vested in: ROCKWELL FEDERAL CREDIT UNION, FORI4ERLY NAA ENPLOYEES FEDERAI. CREDIT UNION. ' The land referred to in this report is described as follows: __. SEE E MBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. { - FORM 2M 1RlrJ41 tir + PAGE 2 *CAG'O TITLE INSURANCE COMPA PRELIMINARY REPORT Amt the date hereof exceptions to coverage, in addition to the printed exceptions and exclusions contained in said policy form, would be as follows: 1. General and Special taxes for the fiscal year 1978 -1979 now a lien, but not yet due and payable. 2. A Covenant by and between the City of San Luis Obispo, a Municipal Corporation and Development Associates, a limited partnership dated December 12, 1963 and recorded March_6, 1964 in Book 1287 at Page 351 of Official Records. 3.;. �"An unrecorded lease of aaid property, more commonly known as Laguas Lake Golf .'.Course, dated February 18,`1976, executed by Rockwell Federal Credit Union, as Lessor, and City of San-Luis Obispo, as Lessee, for a term of five years, as dia closed by - the C_ ity of San Luis Obispo. - Said unrecordedy lease confains a provision for the option to _purchase said premises r by the Lessee. 4 4. �. 'An action for .the =right• of ' possession, commenced September 19, 1968, and now - :;-'pendiug,`--the' the Superior Court,of the State of California in and for the County of .Los Angeles,'Case Number.939 -330, entitled ROBERT W. MANTLE, an individual; DOROTHY _.L: MANTLE,-an individual; JOHN F. WULFFSON, an.individual; EMILIE P. WULFFSON, :an individual; RAY C. SKINNER, an individual; MARJORIE C. SKINNER, an individual; PERRY R. MOORE, an individual; ANNETTA L. MOORE, an individual; GEORGE W. SHAVER, JR., an individual; NATALIE F. SHAVER, an individual; ALOMA DEVELOPMENT CORPORATION, a California corporation; RANCHO DE LOS OSOS HOMES, a limited partnership, Plaintiffs, versus NAA EMPLOYEES FEDERAL CREDIT UNION; E. E. MERRIMAN; an individual; G. A. SMITH, an individual; L. E. LAVISON, an individual; R. E. IVERSON, an individual; R. KELLOUGH, an individual; DOES I through XXX, inclusive; and DOE CORPORATIONS I through %, inclusive, Defendants. Note 1: The following is furnished for information only: The only conveyances affecting said land recorded within six (6) months of the date of this report are as follows: None. Note 2: Taxes for proration purposes 1977 -1978; First Installment $3,530.47, paid. `Second Installment • $3,530.47, paid. ':Parcel Number 53- 111 -270 .Code Area a 003 -006., . 1 %( •w t -lx_ - �'•h -Y- J,C�'•a- _ - =4e—i f p��+�yy'KN. ,� ` k� .� :1 4 '` -•h`. a T - � _ - M ��..•ti.. �. ^ ^•'" � 7 _ . w ` .ay�,�� C`r +41r � ;7. � y �'yj� L' ti,.. W- v : • !T7 7/26178 PORPA 2693 L EXHIBIT "A" `. That portion of Lot 59 of the Subdivision of the Ranchos Canada de Los Osos and La Laguna, in the County of San Luis Obispo, State of California, as per map filed in Book A, Page 83 of Maps, in the office of the county recorder of said county described as follows: BEGINNING at the most Northerly corner of said lot, being designated on said map as "S189 "; thence along the Northeasterly line of said lot, South 44° 00' 35" East 1246.64 feet to the TRUE POINT OF BEGINNING; thence along said Northeasterly line, North 44° 00' 35" West 842.64 feet; thence South 45° 59' 25" West 160.00 feet; thence South 44° 00' 35" East 200.00 feet; thence South 5° 40' 00" East 150.00 feet; thence South 44 °.00' 35" East 90.00 feet; thence South 45° 59' 25" West 220.00 feet; thence South 36° 25' 00" West 544.00 feet; thence South 41° 12' 00" West 368.70 feet; thence South 23° 41' 00" West 87.00 feet; thence South 25° 52' 00" East 170.00 feet; thence North 85° 04' 00 East 90.00 feet; thence South 47° 22' 00" East 109.70 feet; thence South 5° 30' 00" East 106.00 feet; thence North 58° 04' 00" East 140.00 feet; thence North 15° 46' 00" West 77.00 feet; thence North 40 25' 00" West 92.00 feet; thence North 47° 03' 00" East 172.50 feet; thence North 83° 30' 00" East 77.00 feet; thence South 560 08' 00" East 110.00 feet; thence South 30° 35' 00" East 32.00 feet; thence South 1° 40' 00" East 118.00 feet; thence North 55° 14' 00" East 140.45 feet; thence South 66° 24' 00" East 100.00 feet; thence South 50° 20' 00" East 90.00 feet; thence South 260 45' 00" East . 52.00 feet; thence North 63° 15' 00" East 70.00 feet; thence South 86° 45'.00" East 120.00 feet; thence South 51° 31' 00" East 90.00 feet; thence North 750 12' 00" East 282.44 feet; thence North 18° �42' 00" West 355.00 feet; thence North 50 19' 10" East 160.00 feet; thence North 68° 14' 45" West, to a line that is parallel with and distant Southwesterly 330.00 feet, measured at right angles, from the Northeasterly line of said Lot 59; thence along said parallel line, North 44° 00' 35" West to a line bearing South 45° 59' 25" West from the TRUE POINT OF BEGINNING; thence North 45° 59' 25" East 330.00 feet to the TRUE POINT OF BEGINNING. EXCEPT THEREFROM that portion of said land included within the lines of the land described in the deed to Congregational Conference of Southern California and the Southwest, recorded January 30, 1963 in Book 1223, Page 239 of Official Records, in the office of the county recorder of said county. M :01, C1 � A� 2 2 a. zo ' Ma vh �� d z « ROAD } 2 _ sar w —izib -- 1 �e '� 4 t w�w�oo•�s -w �•— •7j %0.90 t 1 1 v 1 u _ • of - -� 0 —a t n �A: dw Nu 0 oz o0'fi rT � � :. e lw 1 y 07 I m CIS • Nt, N L N Q z� mO wQ tq W w . _- -- ~ W r_ b ao w o O y � Q >q °� cc W 1 J ti � o 2 1 . 1 Q 1 w N 10L o 1 1 i a N . a " w r *r +s t K t YM d X w a. zo ROAD n - - �e ..1 �• � � of �A: dw Nu 0 o0'fi rT � � :. e o Q 1 w CC � Q • Nt, N L N Q z� mO wQ tq W w . _- -- ~ W r_ ao w cc W 1 1 N 10L o w K x . 3 y Q% K ' U O Co a� . N C: " o 0O h CC • m � .�' C C,O � O ' O NUcm w N.0 0 O o 2 - ro v, . -am C� vi ..: � �: le 4 _ '0.0 = = • co � �c• � ti � cn .O 4 O.O co Co a Y • r CUESTA -TITLE GUARANTY 863 Pacific Street, P.O. Box 1265 San Luis Obispo, California 93401 Telephone 805/544 -1860 Received from LV CUESTA TITLE r 12155 Date. �_T 1S Dollars $ 1h Dnn For deposit to account of: 2�s y y ( to be used in accordance with. (his, her, their) written instruction`s�un d@j Escrow No. 1 to o Check - Clearing No.Ro-- ti 9 Name of Bank: Account No. Amount: o Ov Check - Clearing No. Name of Bank: Account No. Amount: $ Cashier's Check - Clearing No. Name of Bank: Amount: $ Cashier's Check - Clearing No. Name of Bank: Amount: $ Money Order Cash Currency Total — CUESTA TITLE GUARANTY By Escrow officer f i CUESTA TITLE CUESTA TITLE GUARANTY COMPANY 863 PACIFIC STREET BOX 1265 SAN LUIS OBISPO. CALIFORNIA 93406 TELEPHONE 805/544 -1860 T. L. BERRYHILL VICE PRESIDENT & MANAGER October 2, 1978 City of San Luis Obispo P.O. Box 321 San Luis Obispo, CA 93401 RE: Escrow #6471 -PP Gentlemen: With reference to the above numbered escrow, which closed on September 20, 1978 we enclose the following: ( X* Original copy of the Title Policy for your records. ( ) Copy of the Title Policy for your records. ( ) Original ALTA Title Policy for your records. ( ) Copy of ALTA Title Policy for your records. ( ) Certified Hud Statement for your records. Thank your again for this opportunity to be of service to you. Very truly yours, CUESTA TITLE GUARANTY COMPANT J. Lewis Escrow Department enc. RECEIVED 0 C T 3 1978 CITY CLERK SAN LUIS OBISPO, Ca. CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY 1973 05 010 03 1-1533 CHICAGO TITLE INSURANCE COMPANY SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures the insured, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company may become obligated to pay hereunder, sustained or incurred by said insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on such title; 3. Unmarketability of such title; or 4. Any lack of the ordinary right of an abutting owner for access to at least one physically open street or highway if the land, in fact, abuts upon one or more such streets or highways; and in addition, as to an insured lender only: 5. Invalidity of the lien of the insured mortgage upon said estate or interest except to the extent that such invalidity, or claim thereof, arises out of the transaction evidenced by the insured mortgage and is based upon a. usury, or b. any consumer credit protection or truth in lending law; 6. Priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being shown in Schedule B in the order of its priority; or 7. Invalidity of any assignment of the insured mortgage, provided such assignment is shown in Schedule B. In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. CHICAGO TITLE INSURANCE COMPANY Issued by: CUESTA TITLE GUARANTY COMPANY 863 Pacific Street President San Luis Obispo, California 93401 ���..NS..... � ATTEST: (805) 544 -1860 ~\ ORPORAT f `- n : o a .. Secretary J CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when used in this policy mean: (a) "insured ": the insured named in Schedule A, and, subject to any rights or defenses the Company may have had against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. The term "insured" also includes (i) the owner of the indebted- ness secured by the insured mortgage and each succe ;sor in ownership of such indebtedness (reserving, however, all rights and defenses as to any such successor who acquires the indebted- ness by operation of law as described in the first sentence of this subparagraph (a) that the Company would have had against the successor's transferor), and further includes (ii) any govern- mental agency or instrumentality which is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an insured herein or not, and (iii) the parties designated in para- graph 2(a) of these Conditions and Stipulations. (b) "insured claimant ": an insured claiming loss or dam- age hereunder. (c) "insured lender ": the owner of an insured mortgage. (d) "insured mortgage ": a mortgage shown in Schedule B, the owner of which is named as an insured in Schedule A. (e) "knowledge ": actual knowledge, not constructive knowl- edge or notice which may be imputed to an insured by reason of any public records. (f) "land ": the land described, specifically or by reference in Schedule A, and improvements affixed thereto which by law constitute real property; provided, however, the term "land" does not include any area excluded by Paragraph No. 6 of Part I of Schedule B of this Policy. (g) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument. (h) "public records ": those records which by law impart constructive notice of matters relating to the land. Z. (a) Continuation of Insurance after Acquisition of Title by Insured Lender If this policy insures the owner of the indebtedness secured by the insured mortgage, this policy shall continue in force as of Date of Policy in favor of such insured who acquires all or any part of the estate or interest in the land described in Schedule A by foreclosure, trustee's sale, conveyance in lieu of foreclosure, or other legal manner which discharges the lien of the insured mortgage, and if such insured is a corporation, its transferee of the estate or interest so acquired, provided the trans- feree is the parent or wholly owned subsidiary of such insured; and in favor of any governmental agency or instrumentality which acquires all or any part of the estate or interest pursuant to a contract of insurance or guaranty insuring or guaranteeing the indebtedness secured by the insured mortgage. After any such acquisition the amount of insurance hereunder, exclusive of costs, attorneys' fees and expenses which the Company may be obligated to pay, shall not exceed the least of: (i) the amount of insurance stated in Schedule A; (ii) the amount of the unpaid principal of the indebted- ness plus interest thereon, as determined under para- graph 6(a) (iii) hereof, expenses of foreclosure and amounts advanced to protect the lien of the insured mortgage and secured by said insured mortgage at the time of acquisition of such estate or interest in the land; or (iii) the amount paid by any governmental agency or instrumentality, if such agency or instrumentality is the insured claimant, in acquisition of such estate or interest in satisfaction of its insurance contract or guaranty. (b) Continuation of Insurance after Conveyance of Title The coverage of this policy shall continue in force as of Date of Policy, in favor of an insured so long as such insured retains an estate or interest in the land, or owns an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured. 3. Defense and Prosecution of Actions — Notice of Claim to be Given by an Insured Claimant (a) The Company, at its own cost and without undue delay, shall provide for the defense of an insured in litigation to the extent that such litigation involves an alleged defect, lien, encum- brance or other matter' insured against b* policy. (b) The insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in (a) above, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest or the lien of the insured mortgage, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interest or the lien of the insured mortgage, as insured, is rejected as unmarketable. If such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case prejudice the rights of any such insured under this policy unless the Company shall be 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 without undue delay prosecute any action or pro- ceeding or to do any other act which in its opinion may be neces- sary or desirable to establish the title to the estate or interest or the lien of the insured mortgage, as insured; and the Company may take any appropriate action, whether or not it shall be liable under the terms of this policy, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever the Company shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any such litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of such insured for such purpose. Whenever requested by the Company, such insured shall give the Company, at the Company's expense, all reasonable aid (1) in any such action or proceeding in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and (2) in any other act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest or the lien of the insured mortgage, as insured, including but not limited to executing corrective or other docu- ments. 4. Proof of Loss or Damage Imitation of Action In addition to the notices required under Paragraph 3(b) of these Conditions and Stipulations, a proof of loss or damage, signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain or determine the facts giving rise to such loss or damage. Such proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage, and, when appropriate, state the basis of calculating the amount of such loss or damage. Should such proof of loss or damage fail to state facts sufficient to enable the Company to determine its liability hereunder, insured claimant, at the written request of Company, shall furnish such additional information as may reasonably be necessary to make such determination. No right of action shall accrue to insured claimant until 30 days after such proof of loss or damage shall have been furnished. Failure to furnish such proof of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage. S. Options to Pay or Otherwise Settle Claims and Options to Purchase Indebtedness The Company shall have the option to pay or otherwise settle for or in the name of an insured claimant any claim insured against, or to terminate all liability and obligations of the Company hereunder by paying or tendering payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred up to the time of such payment or tender of payment by the insured claimant and authorized by the Company. In case loss or damage is claimed under this policy by the owner of the indebtedness secured by the insured mortgage, the Company shall have the further option to purchase such indebtedness for the amount owing thereon together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay. If the Company offers to purchase said indebtedness as herein provided, the owner of such indebtedness shall transfer and assign said indebtedness and the mortgage and any collateral securing the same to the Company upon payment therefor as herein provided. Upon such offer being madehe Company,.liability and obligations of the Company he er to the owls r of 'the indebtedness SCHEDULE A Policy No. 05 010 03 11533 Date of Policy Order No. 17774 September 20, 1978 at 8.01 A. M. I. Name of Insured: CITY OF SAN LUIS OBISPO, A MUNICIPAL CORPORATION. i . . Amount of Insurance $ 260,.000.00. Charge $ 832.50 2. The estate or interest in the land described herein and which is covered by this policy is: A Fee 3.. The estate or interest referred to herein is at Date.of Policy vested in: CITY OF SAN LUIS OBISPO, A MUNICIPAL CORPORATION. 4. The land referred to in this policy is situated in the County of San Luis Obispo State of California and is described as follows: SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF. FORM 3235 (R1 - 75) This policy valid only if Schedule B is attached. Chicago Title Insurance Company EXHIBIT "A" That portion of Lot 59 of the Subdivision of the Ranchos Canada de Los Osos and La Laguna,.in the County of San Luis Obispo, State of California., as per map filed in Book A, Page 83 of Maps, in the office of the county recorder of said county described as follows: BEGINNING at the most Northerly corner of said lot, being designated on said map as "S189 "; thence along the Northeasterly line of said lot, South 44° 00' 35 ".East 1246.64 feet to the TRUE POINT OF BEGINNING; thence along said Northeasterly line, North 44° 00' 35" West 84.2.64 feet; thence South 45° 59' 25" West 160.00 feet; thence South 44° 00' 35" East 200.00 feet; thence South 5° 40' 00" East 150.00 feet; thence South 440 00' 35" East 90.00 feet; thence South 45° 59' 25" West 2.20.00 feet; thence South 36° 25' 00" West 544.00 feet; thence South 41° 12' 00" West 368.70 feet; thence South 23° 41' 00" West 87.00 feet; thence South 25° 52' 00" East 170.00 feet.; thence North 85° 04' 00 East 90.00 feet; thence South 47° 22' 00" East 109.70 feet; thence South 5° 30' 00" East 106.00 feet; thence North 58° 04' 00" East 140.00 feet;'thence North 15° 46' 00" West 77.00 feet; thence North 4° 25' 00" West 92.00 feet; thence North 470 03' 00" East 172.50 feet; thence North 83° 30' 00" East 77.00 feet; thence South 56° 08' 00" East 110.00 feet; thence South 30° 35' 00" East 32.00 feet; thence South 1° 40' 00" East 118.00 feet; thence. North 550 14' 00" East 140.45 feet; thence South 66° 24' 00" East 100.00 feet; thence South 50° 20' 00" East 90.00 feet; thence South 260 45' 00" East 52.00 feet; thence North 63° 15' 00" East 70.00 feet; thence South 86° 45' 00" East 120.00 feet; thence South 510 31' 00" East 90.00 feet; thence North 750 12' 00" East 282.44 feet; thence North 18° 42' 00" West 355.00 feet,; thence North 50 19' 10" East 160.00 feet; thence North 68° 14' 45" West., to a.line that is parallel with and distant Southwesterly 330.00 feet, measured at right angles, from the Northeasterly line of said Lot 59; thence along said parallel line, North 44° 00' 35" West to a line bearing South 45° 59' 25" West from the TRUE POINT OF BEGINNING; thence North 450 59' 25" East 330.00 feet to the TRUE POINT OF BEGINNING. EXCEPT THEREFROM that portion of said land included within the lines of the land described in the deed to Congregational Conference of Southern California and the Southwest, recorded January 30, 1963 in Book 1223, Page 239 of Official Records, in the office of the county recorder of said county. • SCHEDULE B • Policy No. 05 010 03 11533 This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise 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. Proceedings by a public agency which may result In taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency 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 an inspection of the land or by making inquiry of persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, 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. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water. 6. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred to in Schedule A, or in abutting. streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a physically open street or highway is insured by this policy. 7. 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 any improvement now or hereafter erected on the land, or prohibiting a separation in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordinance or governmental regulation. 8.. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights appears in the public records. 9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant to the Company prior to the date such insured claimant became an insured. hereunder; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not, have been sustained if the insured claimant had been a purchaser . or encumbrancer for value without knowledge. PART II 1. General and Special taxes for the fiscal year 1978 -1979 now a lien, but not yet due and payable. NOTE: The following endorsements appearing after ' Schedule B are an integral part of this policy: Validating Signatory None. Form 3236 —(R 10 -73) Schedule B of this . Policy consists of 1 pages. Chicago Title Insurance Company *NDITIONS AND STIPULATIONS, Continued secured by said insured mortgage, other than the obligation to purchase said indebtedness pursuant to this paragraph, are ter- minated. 6. Determination and Payment of Loss (a) The liability of the Company under this policy shall in no case exceed the least of: (i) the actual loss of the insured claimant; or (ii) the amount of insurance stated in Schedule A, or, if applicable, the amount of insurance as defined in para- graph 2(a) hereof; or (iii) if this policy insures the owner of the indebtedness secured by the insured mortgage, and provided said owner is the insured claimant, the amount of the un- paid principal of said indebtedness, plus interest there- on, provided such amount shall not include any additional principal indebtedness created subsequent to Date of Policy, except as to amounts advanced to protect the lien of the insured mortgage and secured thereby. (b) The Company will pay, in addition to any loss insured against by this policy, all costs imposed upon an insured in litigation carried on by the Company for such insured, and all costs, attorneys' fees and expenses in litigation carried on by such insured with the written authorization of the Company. (c) When the amount of loss or damage has been definitely fixed in accordance with the conditions of this policy, the loss or damage shall be payable within 30 days thereafter. 7. Limitation of Liability No claim shall arise or be maintainable under this policy (a) if the Company, after having received notice of an alleged defect, lien or encumbrance insured against hereunder, by litiga- tion or otherwise, removes such defect, lien or encumbrance or establishes the title, or the lien of the insured mortgage, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation until there has been a final deter- mination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title or to the lien of the insured mortgage, as insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily admitted or assumed by an insured without prior written consent of the Company. 8. Reduction of Insurance; Termination of Liability All payments under this policy, except payment made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto; provided, however, if the owner of the indebtedness secured by the insured mortgage is an insured here- under, then such payments, prior to the acquisition of title to said estate or interest as provided in paragraph 2(a) of these Conditions and Stipulations, shall not reduce pro tanto the amount of the insurance afforded hereunder as to any such insured, except to the extent that such payments reduce the amount of the indebtedness secured by such mortgage. Payment in full by any person or voluntary satisfaction or release of the insured mortgage shall terminate all liability of the Company to an insured owner of the indebtedness secured by the insured mortgage, except as provided in paragraph 2(a) hereof. 9. Liability Noncumulative It is expressly understood that the amount of insurance under this policy, as to the insured owner of the estate or interest covered by this policy, shall be reduced by any amount the Com- pany may pay under any policy insuring (a) a mortgage shown or referred to in Schedule B hereof which is a lien on the estate or interest covered by this policy, or (b) a mortgage hereafter executed by an 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 payment under this policy. The Company shall have the option to apply to the payment of any such mortgage any amount that otherwise would be payable hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be deemed a payment under this policy to said insured owner. The provisions of this paragraph 9 shall not apply to an owner of the indebtedness secured by the insured mortgage, unless such insured acquires title to said estate or interest in satisfaction of said indebtedness or any part thereof. 10. Subrogation Upon Payment or Settlement Whenever the Company shall have paid or settled a claim under this policy, all right of subrogation shall vest in the Com- pany unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substitute the personal 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 insured mortgage, or release any collateral security for the indebtedness, provided such act occurs prior to receipt by such insured of notice of any claim of title or interest adverse to the title to the estate or interest or the priority of the lien of the insured mortgage and does not result in any loss of priority of the lien of the insured mortgage. The Company shall be subro- gated to and be entitled to all rights and remedies which such insured claimant would have had against any person or property in respect to such claim had this policy not been issued, and the Company is hereby authorized and empowered to sue, com- promise or settle in its name or in the name of the insured to the full extent of the loss sustained by the Company. If requested by the Company, the insured shall execute any and all documents to evidence the within subrogation. If the payment does not cover the loss of such insured claimant, the Company shall be subro- gated to such rights and remedies in the proportion which said payment bears to the amount of said loss, but such subrogation shall be in subordination to an insured mortgage. If loss should result from any act of such insured claimant, such act shall not void this policy, but the Company, in that event, shall as to such insured claimant be required to pay only that part of any losses insured against hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation. 11. Liability Limited to this Policy This instrument together with all endorsements and other instruments, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. Any claim of loss or damage, whether or not based on negli- gence, and which arises out of the status of the lien of the insured mortgage or of the title to the estate or interest covered hereby, or any action asserting such claim, shall be restricted to the provisions and conditions and stipulations of this policy. No amendment of or endorsement to this policy can be made except by writing endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. No payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or de- stroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Company. 12. Notices, Where Sent All notices required to be given the Company and any state- ment in writing required to be furnished the Company shall be addressed to it at 111 W. Washington Street, Chicago, Illinois 60602 or at any branch office of the Company shown on the reverse side hereof. 13. Fee THE CHARGE SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINA- TION AND TITLE INSURANCE. lw - _.� }. a W w U z d M c EN (� s 1t �ya v a .E o _d U U 1--I O U z a C7 W a o � q �a 4 Jr'S' $ cad IL �o 0 4� NS4 t-o,0 1-- N I U ~ H L �a v • � I Q I Q �I 09 1 Z Z O� 0 AQ 1 I O• r U u 0 2 N N jm Y N m z O � - u om N N � a o` p 7 W N N 2 � J IW- z q a v e w a c� a r� N �© ca 4 F M °z � t' OL zd0 M h � V 2 V 0 z LOS H nC � Lm Vhp0 O v N m ~ O ~ O O cu O o I • t _ M�I�00' ?.SSW_ �C %3%0.90 i ' s • � I Q I Q �I 09 1 Z Z O� 0 AQ 1 I O• r U u 0 2 N N jm Y N m z O � - u om N N � a o` p 7 W N N 2 � J IW- z q a v e w a c� a r� N �© ca 4 F M °z � 0 J E m k O ` • V U ' u z 3 0 N N W 4" z O O y G C Z v o_ w k m il-, C N ¢ O N •C .0 � bly °a.cro ro w O C-0 M cn v a m N Cw.0 �S t) a cx Co Z � � E -c N _ E;E0� r C a • N �© ca 4 F M °z � t' OL zd0 Q O F- � N v N m • V U ' u z 3 0 N N W 4" z O O y G C Z v o_ w k m il-, C N ¢ O N •C .0 � bly °a.cro ro w O C-0 M cn v a m N Cw.0 �S t) a cx Co Z � � E -c N _ E;E0� r C • ae�. u unstc. u 0 O cs AE YEAR 19 78 TO 19 79 PETITION FOR REVISION CWA9SESSMENT ROLL , NO PARCELi _ I h / I / I -1 17 I - • > j %J CODE, 1 / _ i PENI0T10N I 1w� 1 �/� OL DATE > -7 � CODE k � (t P RCDNOL� REVISION REQUESTED BY OFFICE OF THE ASSESSOR DATE 11/16 19 78 REASON FOR city of San Luis Obisno on 9) Cancel assess.nt • Property acquired by of 41uk Daoe THIS ACTION COMMENCED PURSUANT TO SECTION 4986. 4643 REVENUE 9 TAXATION CODE DATE OF ACQ.: /21/78 ORIGINAL ROLL TAX RATE AREA 3-06 OLD PARCEL 5.3'111- 27-000 ASSESSED TO MA Employees Ted Credit Un PROPERTY ,,AA ty 0$ SLU DESCRIPTION IJU dox 3Z1 ADDRESS Ku LA 934UI TAX NFO--,_ TYPE OR FUND LAND I IMPROVEMENTS1 PERS. PROP I CODE EXEMPT: CODE EXEMPT. CODE EXEMPT. FULL CASH 248320 1 "aub `- 11 /r ASSESSED BOW 55-71--- TYPE OR FUND RATE TOTAL TAX FIRST INSTALLMENT SECOND INSTALLMENT C- 77-5— � �- vC _ %mac C� / 6, ek . � � � v7 _ I-, ; . 1 1 11 /r r 7 X S 3 s Peo re h r 9 ® 9 /.arc / -7 REVISED ROLL TAX RATE AREA 1 i -3 -� - NEIN PARCEL ASSESSED TO 1 I PROPERTY 16 DESCRIPTION 13 ADDRESS 14 _TAX I 5 INFO. FULL CASH le I ASSESSED �0 LAND IMPROVEMENTS PERS. PROP. CODE EXEMPT. CODE EXEMPT. CODE EXEMPT. F 2 ND INSTALLMENT t I I 1 I I 1 I I I 11 /r r AUTHORIZED SIGNATURE �- �"t'f DATE RATE a.V. 3 2 AM1 %NT �f _.(. 3 3 I L.O. 3 4 T IFUND N0. 3 I 6 1�' 3 I 474-1 1 1 -I 1 j '1 1 1 1 1 1 1 1, t I 4T5 1 I ST INSTALLMENT i I I I •1 I I, I 11 I I I I, NET VALUE 67651 6 NET VALUE 11/16/78 INCREASE DECREASE ASSESSED VALUE 070a1 F 2 ND INSTALLMENT t I I 1 I I 1 I I I r q.I t 4 6 1 1 I 1 I y l '11 J i l l I, 1l_� 1417 1 1 lllyl 5 I 1. 1 1 1 1 1 1,1 ! 1 1 1 1 r i 151117RI I 'AX AMOUNT CHANGE I I 1 1 1 1 1, 1 1 1 1 1 I� I �I / I, IRI NEW TAX BILL n uiroeeee nceoceec FP DICK FRANK, Assessor ASSESSOR COURTHOUSE SAN LUIS OBISPO, CALIFORNIA - 93401 November 28, 1978 NAA Employees Fed Credit Un %City- of SLO PO Box 321 SLO CA 93406 Re: Petition 78 434 _ Dear Taxpayers: Telephone 543 -1550 'This is to notify you that we have initiated a Petition for Revision of the 1978 -79 Assessment Roll correcting the full value of Assessor's Parcel Number 53 -1 T1 -27 -000 as follows: Land Improvements Roll Value 248320 . 22285 Corrected Value' -0- -O= Difference - 248320 22285 Personalty Exemptions Reason for Revision: Cancel assessment, property acquired by City of San Luis Obispo by document recorded 9/20/78 in Vol -2101 at Page 57 This change is being processed in accordance with Revenue and Taxation Code 4843. If you have any questions regarding this change, please call our office at 543- 1.550, ext. 293. If you disagree with this change and desire to seek a valuation reduction, you may file an Application for Assessment Appeal with the County Clerk within sixty days of the receipt of your revised tax statement. Adjustments in the amount of taxes due as a result of this roll correction will be made by the County Auditor. Questions regarding the processing of refunds or revised tax statements should be directed to the County Auditor's Office. Very truly yours, DICK FRANK County Assessor By: Deputy County Assessor STATE OF CALIFORNIA COUNTY OF Sacramento 1 SS ONMay--- 18- -= - - -- -------------- --------------------- ------------------------------ - - - - -- 1978 -, before me, the - undersigned, a Notary Public in and for said County and- State, personally appeared Ernest J. Steiner -- ---------------------------------- - - - - -- - - - -- - - ------- - - - - -- - -- MIKALEE A. TINGUS .� HO:ART PUBLIC - CALROM" --------------------------------------------------------------- 'r PRINCUAL OFFICE D1 SACRAMENTO COUNTY ur C,,n a d n Exv&es rr oe�be= 14, 1978 known to me to be the person - - -- whose name ---- !_S___--------- subscribed to the within d DIIOwulillOBltO instrument, and acknowledged to me that ---- he ---- -e executed the same. Notary's Signature--- ----- - - - - -- - -- -- .. Q.... GENERAL ACKNOWLEDGMENT Vfll �1 nn PK, q7n