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HomeMy WebLinkAboutD-1035 Morro & Palm Streets Recorded 03/01/1979a l4_73> (Individual) al) (I TITLE INSURANCE AND TRUST STATE OF CALIFORNIA ATICOR COMPANY SS. COUNTY OF Los Angeles tOn February 16. 1979 before me, the undersigned, a Notary Public in and for said , State, personally appeared W ,W Paul M. Hammond and Shirley Kirtland Hammond X W known to in ;Q 'J fNL7 I111111111111141IIIWIUWIIIailWlllltlluul .i.i[fili«iii ul.iiil N:ll"I liltiii ««i.i«: «:.�.. to be the person S whose name are subscribed OFFICIAL SEAL to the within instrument and acknowledged that they E JOAN C. MEYER ' i executed th e. NOTARY PUBLIC CALIrl;RN!A — WITNE my and and official sea]. � ° � � r P!iiNCIPnL OFFICE IN LOS ANGELES COUNTY MY-Commission Expires June 28, 1980 Sicnatn zx_�L.,..... «...« « «...«..... Name (Typed or Printed) LvoL2136 em;E 699 (This area for official notarial seal) + RECORDING REQUESTED BY Title Insurance -and Trust Ca f or City of San Luis Obispo AND WHEN RECORDED MAIL TO Name City of Sand Luis Obispo Street. P.O., Box 321 Address San Luis Obispo, CA 93106 City & State . Name Street Address City a _. State I MAIL TAX STATEMENTS TO Same as above �1 TO 1923 CA (12 -74) 4,i oOC. tyo. — 8699 OFFICIAL RECOM SAN LUIS OBISPO CO.. CHIC MAR 11979 WILLIAM E. ZIMARIK COUNTY RECORDER TIME 8:03 Al ; SPACE ABOVE THIS LINE FOR RECORDER'S USE Individual Grant Deed THIS FORM FURNISHED BY TICOR TITLE INSURERS A. P.N The undersigned grantor (s) declare (s) Documentary transfer tax is S none re C0 d rP d ( ) computed on full value of property conveyed, or ( ) computed on full value less value of liens and encumbrances remaining at time of sale. 1 ( ) Unincorporated area: ($) City of Sall Luis Obispo � and FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, SHIRLEY KIRTLAND HAMMOND and PAUL M. HAMMOND., her husband; JOHN AVERY KIRTLAND, also known as John A. Kirtland and BETTY C. KIRTLAND., his wife hereby GRANT(S) to CITY OF SAN LUIS OBISPO, a municipal corporation the following described real property in the City of San Luis Obispo County of San Luis Obispo , State of California: Lots 1, 2 and 3 according to the map of the subdivision of part of Blocks 14 and 18 in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to the map thereof filed in Book 1, page 43 of Record of Surveys, in the office of the County Recorder of said County. EXCEPT therefrom that portion thereof described in the Deed to C. A. Maino, et ux., recorded April 7, 1953 in Book 704, page 439 of Official. Records. Dated February 2, 19T9 STATE OF CALIFORNIA }SS. COUNTY OF Santa Clara I1 On February 7, 1979 before me, the under- signed, a Notary Public in and for said State, personally appeared 7014 AVERY KIRTLAND and BETTY C KIRTLAND known to me to be the person whose name crciubscribed to the within instrument and acknowledged that th6y executed the same. +, WITNESS my hand and official seal. r Signature Shirley Kirtland Hammond a. u a-a • iuuvaau ohn Avery KiriTand } Bet C . Ki tlerid ONOTARY OFFICIAL SEAL MILTON D. ROSENBERG PUBLIC - CALIFORNIA SANTA CLARA COUNTY My comm. expires OCT 31, 1981 (This area for official notarial seal) Title Order No. Escrow or Loan No. MAIL TAX STATEMENTS AS DIRECTED ABOVE LVOL213 eAn 8 n Z - O L O me CM -1Z n m a 0 m im D- �m ^ o oc Z O z� ® z �♦ -4 M o to L C 05 Dm 0 me CL o � -4 D � � (D m r m D C CL r� m D CL :° n 0 m m O m �m D- �m =O > Z -4 ®� q M m m <. n m o c D D C r M m r D CL r m m Z O mm D S Zm a oz cM 2 Lnz m TITLE /ESCROW SETTLEMENT SHEET JTITLE INSURANCE AND TRUST ES, 4.5 (e -77) Save for Income Tax Purposes J PIONEER NATIONAL TRUS INSURANCE DATE E.O. /T.O. NAME NO. ESTIMATED FINAL ❑STATEMENT STATEMENT 3/l/T9 I Eda A. Rittenhouse 125549 -EAR PROPERTY DESCRIPTION /ADDRESS Shirley Kirtland Hammond and John Avery Kirtland City of San Luis Obispo ADDRESS C O Milton D. Rosen-E-erg ADDRESS P.O. Box 1256, Los Gatos, Ca. 95030 P.O. Box 321, San Luis Obispo, Ca. 93406 DESCRIPTION I DEBIT I CREDIT SALES /PURCHASE PRICE DEPOSIT TO: escrow DEPOSITS EXISTING LOAN BALANCE 0 . o � END OF DOCUMENT 210,000.00 10,000.00 200,165.50 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 (Want Deed dated February 21 1979 , , from Shirley Kirtland Hammond and Paul M. H- mmond, her husband; and John Avery Kirtland, also knmlrm as John A. Kirtland, and Betty Co Kirtland, his wife 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: February 28, 1979 CI7 ATTEST: itzpatrick, City Clerk SAN LUIS OBISPO h E. Schwartz, Mayor m2136 txi 700 STATE OF CALIFORNIA ass .COUNTY OF fiAft­� On j . ve - Al 19'7(-, beforeme, the undersinged notary public, personally appeared 13AIJ known to me, to be the person(s) whose name(s) kch- -subscribed to t is are xhe within instrument and acknowledge that 'r_(f#qY' executed the same. h".eTt h e y OFFICIAL SERI go JOSEPH B McGEEVER NOTARY PUBLIC CALIFOFNIA f PRI ­ F SANTA BARBARA MY Commission Expires June 4, 1979 ]Notary /Pribi in and for said County and State (SEAL) VOL 2153 PACE 29 s • JTITLE INSURANCE " AND TRUST ATICOR COMPANY Policy of Thle Insurance SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, TITLE INSURANCE AND TRUST COMPANY, a California 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. Title Insurance by nP,esident .... �,;,. . z I Attest LES,��� _IxILZ�`_ Secretary TO 1012 TI (5 -77) California Land Title Association Standard Coverage Policy -1973 Cat. No. NNO0240 Schedule B 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 inland beyond the lines of the area specifically described or referred to in Schedule C, 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. 10. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by making inquiry of the lessors in the lease or leases described or referred to in Schedule A. 11. The effect of any failure to comply with the terms, covenants and conditions of the lease or leases described or referred to in Schedule A. 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 repre- sentatives, next of kin, or corporate or fiduciary successors. The term "insured" also includes (i) the owner of the indebtedness secured by the insured mortgage and each successor in ownership of such indebtedness (reserving, however, all rights and defenses as to any such successor who acquires the indebtedness 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 governmental agency or instrumentality which is an insurer or guarantor under an insurance contract or guar- anty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an insured herein or not, and (iii) the parties des- Conditions and Stipulations ignated in paragraph 2(a) of these Conditions and Stipulations. (b.) ''insured claimant ": an insured claiming loss or damage 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 knowledge 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 C, and improvements affixed thereto which by law con- stitute 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 con- structive notice of matters relating to the land. (CONDITIONS AND STIPULATIONS Continued on the inside of the Last Page of This Poilcy) 9 �ruc ^.a auuiau un arenuuru i.pverage ru,iicy -i nia or — pencan t-dnu ritiu +sauci auun vwnurs roiicy room o - iuIv • 125549— LP —ER /DQ Schedule A No. Date of Policy: 125549 MARCH 1 1979 AT 8:03 A.M. Amount of Insurance: Premium $ ?in nnn nn $7n7 cn 1. Name of Insured: CITY OF SAN LUIS OB I S PO, A MUNICIPAL CORPORATION .1„ 2. The estate or interest referred to herein is at Date of Policy vested in CITY OF SAN LUIS OBISPO, A MUNICIPAL CORPORATION 3. The estate or interest in the land described in Schedule C and which is covered by this policy is a fee. �., ,,.�� o .. -•..,i ����. —1- 19— --d-11 aranaara, L.overege roiicy- ryi.l Schedule 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 All matters set forth in paragraphs.numbered 1(one) to .11(eleven) inclusive on the inside cover sheet of this policy under the heading of Schedule B Part I. Part II 1. FOR TAXES, BONDS AND ASSESSMENTS, CURRENT OR DELINQUENT, SEE EXHIBIT "I" ATTACHED. I Itfbb '-I i= /oji American Lana i icne Associauon L.oan roncy- I= /V m1.11 M. I M u UU.an..c.a . U.... 7 c.uyc �• ..,.� . Owner's Policy Form B -1970 or California Lamle Association Standard Coverage Policy -1973 . Schedule C The land referred to herein is described as follows- LOTS 1, 2 AND 3 ACCORDING TO THE MAP OF THE SUBDIVISION OF PART OF BLOCKS.14 AND.18. IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, ACCORDING TO THE MAP THEREOF FILED IN BOOK 1, PAGE 43 OF RECORD OF SURVEYS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THAT PORTION THEREOF DESCRIBED IN THE DEED TO C. A. MAINO, ET UX., RECORDED APRIL 7, 1953 IN BOOK 704, PAGE 439 OF OFFICIAL RECORDS. TO 1667 (10 -74) � t EXHIBIT "I" A. GENERAL AND SPECIAL COUNTY TAXES AND CITY TAXES FOR THE FISCAL YEAR 1979 -1980, A LIEN NOT YET PAYABLE. B. GENERAL AND SPECIAL TAXES FOR THE FISCAL YEAR 1978- 1979,,NOW PAYABLE, INCLUDING PERSONAL PROPERTY TAX, IF ANY, AMOUNTS CURRENTLY ASSESSED $173.24 FIRST INSTALLMENT 86.62- PAID PERSONAL PROPERTY OF NONE IN THE AMOUNT OF NONE SECOND INSTALLMENT 86.62 TOGETHER WITH SUCH ADDITIONAL AMOUNTS WHICH MAY BE ASSESSED BY REASON OF: (A) IMPROVEMENTS ADDED SUBSEQUENT TO MARCH 1, 1975; (B) CHANGES OF OWNERSHIP OCCURRING SUBSEQUENT TO MARCH 1, 1975; (C) ANY FINAL JUDGMENT DETERMINING THAT CONSTITUTIONAL ARTICLE XIII A HAS BEEN APPLIED IMPROPERLY; (D) REAPPRAISAL OF PROPERTY VALUES AS OF MARCH 1, 1975 . CODE AREA 003 -008 PARCEL NO. 2- 416 -23. • CAT. NO. NNO0568 TO 1919.1 CA (7 -77) INQORSEMENT FORM 41 1 -REV. 0 OWNER'S INFLATION PROTECTION INDORSEMENT ATTACHED TO POLICY NO. 12 5 5 4 9 ISSUED BY Title Insurance and Trust Company The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional monetary protection to the Insured Owner named in said Policy, hereby modifies said Policy, as follows: 1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by said Policy, as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to the extent hereinafter specified. 2. "Adjustment Date" is defined, for the purpose of this Indorsement, to be 12:01 a.m. on the first .January 1 which occurs more than six months after the Date of Policy, as shown in schedule A of the Policy to which this Indorsement is attached, and on each succeeding January 1. 3. An upward adjustment will be made on each of the Adjustment Dates, as defined above, by increasing the maximum amount of insurance provided by said Policy (as said amount may have been increased theretofore under the terms of this Indorsement) by the same percentage, if any, by which the United States Department of Commerce Composite Construction Cost Index (base period 1967) for the month of September immediately preceding exceeds the highest Index number for the month of September in any previous year which is subsequent to Date of Policy; provided, however, that the maximum amount of insurance in force shall never exceed 150% of the amount of insurance stated in Schedule A of said Policy, less the amount of any claim paid under said Policy which, under the terms of the Conditions and Stipulations, reduces the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for years in which there is no increase in said Construction Cost Index. 4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force shall be deemed to be the amount which is in force as of the date on which the insured claimant first learned of the assertion or possible assertion of such claim, or as of the date of receipt by the Company of the first notice of such claim, whichever shall first occur. Nothing herein contained shall be construed as extending or changing the effective date of said Policy. This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof. Title By Secretary NOTE: In connection with a future application for title insurance covering said land, reissue credit on premium charges (if applicable at all) will be allowed only upon the original face amount of insurance as stated in Schedule A of said Policy. ID •1 S Y13 Vd a N � I 0 o O u o- Noa_i X i;j O ozo= J Q 4] N H V U- 0- }z U . 1- W O� V V Y ? °o H h a � . O az O Z w U ova cti 4 v� w H PLO x O I El P4 Om x W H FQ awo H C=] H H E- H EA O co 0 U U] O >+ Lo a Q N O H 4 H Ei A 4 E-i 554 U O O Ei H Cn o¢5 U C!1 Z Q A H Q O O�� H � UW fYj EE-1 >O-+ H E 4 O U E- U] E-4 A U H .W7 H H Ei '1S k3d31NON _ _ N 1 1 �Ll'r or �CE'60/ '3.40.p' Li rV S'ZS St B'rZ scB zt vY• ZL I fYJ Yv 5777 I I I I I I Iw v1 �I �I cl n O o N I iP , nzl 17 Z/ $ ' n I • . I I IL_ LAGS -'l 1 I 0• �3."0 DSN n a� ►- µ 10- yr-- 1- - - - ---- • SE'v9 Lf(Z Bq 7ZJ . , N n ., ' I Ir n ' • t5'oot Z �� I vc'6L In L___7,x.rsns n O cr 3 y ozae –�f n . La at rsrlWl In T 21 I I ------- -- - --- -- I sssi/ 2 ,, a o r I I z •R W `� � q I lq� I I� it i ry 7t'S6 I F1T,3''� 15,5-, � - --c� U. - - -- � • - - - -� --- -1 - r- - -�c7s c� �� n, r /.os t t— Of I 1" G� I VI IM Qr r I ` is 0 2 I I I Sr�1.71 rr1 of I ar 1 cr�s 05 - -�CC'C Vr •1 S Y13 Vd a N � I 0 o O u o- Noa_i X i;j O ozo= J Q 4] N H V U- 0- }z U . 1- W O� V V Y ? °o H h a � . O az O Z w U ova cti 4 v� w H PLO x O I El P4 Om x W H FQ awo H C=] H H E- H EA O co 0 U U] O >+ Lo a Q N O H 4 H Ei A 4 E-i 554 U O O Ei H Cn o¢5 U C!1 Z Q A H Q O O�� H � UW fYj EE-1 >O-+ H E 4 O U E- U] E-4 A U H .W7 H H Ei (CONDITIONS AND STIPULATIONS,Continued From Reverse Side of Policy Face) 2. (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 said estate or interest in the land described in Schedule C by foreclosure, trustee's sale, conveyance in lieu of foreclosure, or other legal man- ner 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 transferee 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 indebtedness plus interest thereon, as determined under paragraph 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, encumbrance or other matter insured against by this 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 proceeding or to do any other act which in its opinion may be necessary 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 appro- priate 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 inter- posed a defense as required or permitted by the provisions of this policy, the Company may pursue any such litigation to final deter- mination 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 pros- 0 ecutingbr 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 documents. Proof of Loss or Damage — Limitation 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 deter- mine 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 con- stitutes 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 the 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. 5. 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 indebted- ness 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 made by the Company, all liability and obligations of the Company here- under to the owner of the indebtedness secured by said insured mortgage, other than the obligation to purchase said indebtedness pursuant to this paragraph, are terminated. 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 paragraph 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 claim- ant, the amount of the unpaid principal of said indebtedness, plus interest thereon, provided such amount shall not include any addi- tional 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. 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 litigation 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 determination by a court of competent juris- diction, 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. (CONDITIONS AND STIPULATIONS Continued and Concluded on Reverse Side of This Page) (CONDITIONS AND STIPULATIONS Continued and Concluded From Reverse Side of This Page) 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 insur- ance pro tanto; provided, however, if the owner of the indebtedness secured by the insured mortgage is an insured hereunder, 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 mort- gage, 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 Company 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 Company unaffected by any act of the insured claimant, except that the owner of the indebtedness secured by the insured mortgage may release or substi- tute 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 1 M M Z. ,li In c ZLL D Z m D Z v C to 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 subrogated 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 subrogated 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 here- under 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 instru- ments, 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 negligence, 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 destroyed, 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 statement in writing required to be furnished the Company shall be addressed to it at the office which issued this policy or to its Home Office, 6300 Wilshire Boulevard, P.O. Box 92792, Los Angeles, California 90009. 13. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. 0 0 III � i, i Ili I I IIII�II I�IIIII � I I ��I��i � • . city of san luis oBispo AV19 {' �5 L=_..= �-� 1 OFFICE OF THE CITY ATTORNEY Post Office Box 321 — San Luis Obispo, CA 93406 — 805/541 -1000 February 14, 1979 Title Insurance &, Trust Company 1212 Marsh Street San Luis Obispo, CA 93401 Re: Escrow No. 125549 -EAR Gentlepersons: Enclosed please find an executed copy of buyer's escrow instructions, along with other attached documents, regarding the above referenced. escrow. Also enclosed is city warrant No. 212290 for $10,000 as required in buyer's escrow instructions. With respect to the requirement that the city provide a resolution of acceptance please be advised that the city will provide,a certificate of acceptance. By Resolution No. 549 (1959 Series) the Mayor is authorized to accept conveyances to the city of real property. Copies of the resolution and a blank certificate of acceptance are enclosed for reference. Please advise if the certif- icate will not be acceptable. May I assume.that you will.advise me when you need the certificate of acceptance? Please call me if you have any questions. Thank you. Sincerely, George Thacher City Attorney GT:ktm encs . . cc: `C ty�-C`l-erk City Administrative.Officer City Engineer _ - S b. ._ -.... _ RECORD OF PAYMENT BY POST OFFICE BOX 321 . SAN LUIS OBISPO, CALIFORNIA 93406 1 9020 02 ^0979 212290 �` SI - - __ - ...Y�'tlL"�SII�•'i+aq .�j�.. • � _ _ .. - ys3':.i" }.. r � ��•_- ' . - _ � w� P.O. REFERENCE v_�'• Y..S' v_ r��S:,. .0 .�.. i � tl._... •r ._ . a5_ }..: �L«+...._� � L .n -- . - ->iT .�.... J .- .. /.. -.•;'� ,....... r�...,.,�_.,.. r.. -... n - ....c..r. _ - S b. ._ -.... _ RECORD OF PAYMENT BY POST OFFICE BOX 321 . SAN LUIS OBISPO, CALIFORNIA 93406 1 9020 02 ^0979 212290 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT DISCOUNT AMOUNT PAID P.O. REFERENCE PAYMENT FOR KIRKLAND PROPERTY 1001000.00 32861 THE TREASURER OF THE 11! a s I 2 1 2 2 9 0 02 -09 -79 212290 POST OFFICE BOX 321 • SAN LUIS OBISPO, CALIFORNIA 93406 SAN LUIS OBISPO BRANCH '•'I!FI'li "�' "'I'llliII'ii'i II!' ;I CROCKER NATIONAL BANK 90.1769 • •r ,r�6rh'l II'�!IIIi I'I I 751 MARSH STREET 1ZZZ ° Jl�piIIII�IIII ,IIIIL!!Illu�lallpl III SAN LUIS OBISPO, CALIFORNIA 93x01 * ** ,k IJIIIIIIII,� �,��Ili�a $10, 000.00 PAIY TO THE TITLE INSURANCE AND TRUST ORDER OF .rte. -... �:�ys' � i��� � �•`�• - / •'��•����� CTC = FINAN�I THIS WARRANT VOID AFTER ONE YEAR Ill 2 1 2 2900 1: 12 2 2 111 1 7691: 0 6 70 7 S0 16 1' 0 ES 338.2 F1 112-16) ESCROW INSTRUCTIONS ESCROW NO. 1255L9-EAR SELLERS ❑ BUYERS © BORROWERS ❑ DATE February 2, 1979 To: Title Insurance and Trust Company: Address: 1212 Marsh Street San Luis Obispo, Ca. 93401 Upon signing these instructions we will hand you the sum of 410,000.00 which you will deposit for our account. On or before close of escrow we will hand you an additional sum of $200,000.( plus a sum sufficient to cover our charges, to complete a total consideration of $210,000.00 Which you will deliver when you obtain for my /our account a Grant Deed to the property herein described and when you can issue your current form of CLTA Owner's policy of title =; -. insurance with liability in the amount of S 210,000.00 on the real property described as follows: -'�_' ^ Lots 1, 2 and 3 according to the map of the subdivision of part of Blocks 14 and 18 in the City _ of San Luis Obispo, County of San Luis Obispo, State of California, according to the nap therec - _ - filed in Book 1, page 43 of Record of Surveys, in the office of the County Recorder of said - - - -- County. EXCEPT therefrom that portion thereof described in the Deed to C. A. Maino, etux., recorded April 7, 1953 in Book 704, page 439 of Official Records. showing title vested in CITY OF SAN LUIS OBISPO, a municipal corporation SUBJECT ONLY TO: 2nd installment of general and special taxes for the fiscal year 19 78 -1979 - _ -- - - -- Covenants, conditions, restrictions, and easements of record; You are to prorate taxes as of close of escrow based on 1978 -79 tax figures available to Escrow Agent. In the event the land herein described is not vacant at close of escrow, then rents shall be _ prorated as of date of close of escrow. Escrow Agent may accept a statement from Milton D. Rosenberg, Attorney for sellers, on rents. - -- Escrow Agent shall not be concerned with ar>,y fire insurance coverage. Prior to close of escrow we will hand you a Resolution of Acceptance to be attached to the `- ^- Deed herein called for. Begin search of title at once. We pay 1/2 escrow fee, $165.50. The GENERAL PROVISIONS attached to these instructions are by reference thereto incorporated herein and made a part hereof and have been read and are hereby approved by the undersigned. Time is of the essence of these instructions. If this escrow is not in condition to close by the "time limit date" of On or before 2/28/7 • and demand for cancellation is received by you from any principal to this escrow after said date, i - - _ you shall act n accordance with Paragraph 7 of the General Provisions printed on the reverse side hereof. If no demand for cancellation is made, you will proceed to close this escrow when the principals have complied with the escrow instructions. Any amendments of or supplements to any instructions affecting this escrow must be in writing. I will hand you any funds - - and instruments required to complete this escrow. -_- - - - All documents, balances and statements due the undersigned are to be mailed to the address shown below. City of San Luis Obispo SignatureBy:✓ Address �J./�� 5�. ( , �;�Tel. 5 Yl -i�d t - - Y - SignatureBy:✓ s /�" Address > -%��y 3Zi ✓�lL•Lcf�'.� Tel. rc._.IS 5i -:N ,II;D rZTUR, "! _- - -- - - - - Page 1 - • tS ,..4 1 i l I1 I., To: Title Insurance and Trust Company: Address: 1212 Marsh Street San Luis Obispo, Ca. 93401 U ESCROW INSTRUCTIONS SELLERS ESCROW NO. 125549 -E% DATE Feb. 2, 1979 I /we have read and approve the instructions of City of San Luis Obispo dated February 2, 1979 On orbefore close of escrow ]/we will hand you the Grant Deed as called for herein; which you will deliver when you can issue the policy of title insurance called for therein and when you obtain for my /ow account: the sum of $210,000.00 less our charges as herein authorized. Begin search of title at once. We pay 1/2 escrow fee, $165.50; drawing Deed, $5.00; policy fee, $707.50. attached to The GENERAL PROVISIONS these instructions are by reference theretc incorporated herein and made a part hereof and have been read and are hereby approved by the undersigned. Time is of the essence of these instructions. If this escrow is not in condition to close by the "time limit date" of - - On or before 2/28/79 , and demand for cancellation is received by you from any principal to this escrow after said date, - -� . - - you shall act in accordance with Paragraph 7 of the General Provisions printed on the reverse side hereof. If no demand foi cancellation is made, you will proceed to close this escrow when the principals have complied with the escrow instructions, Any amendments of or supplements to any instructions affecting this escrow must be in writing. I will hand you any fund: -- - __ - - — and instruments required to complete this escrow. _ -- — All documents, balances and statements due the undersigned are to be mailed to the address shown below. Signature - Shirley Kirtland Hammond husband of Shirley Kirtland Hammond - -- - Signature - John Avery Kirtland wife of John Avery Kirtland i I 0 0 GE7 -RAL PROVISIONS 1. DEPOSIT OF FUNDS All funds received in this escrow shall be deposited with other escrow funds in a genera) escrow account or accounts of Title Insurance and Trust Company, with any state or national bank. and may be transferred to any other such general escrow account or accounts. All disbursements shall be made by check of Title Insurance and Trust Company. Any commitment made in writing, to Title Insurance and Trust Company by a bank, trust com- pany, insurance company, or savings and loan association to deliver its check or funds into this escrow may, in the sole discretion of Title Insurance and Trust Company, be treated as the equivalent of a deposit in this escrow of the amount thereof. 2. PRORATIONS AND ADJUSTMENTS All prorations and /or adjustments called for in this escrow are to be made on the basis c a thirty (30) day month unless otherwise instructed in writing. The phrase "close of escrow" (COE or CE) as used in this escrow means the date on which documents are recorded and relates only to proration and /or adjustments unless otherwise specifie 3. RECORDATION OF INSTRUMENTS Recordation of any instruments delivered through this escrow, if necessary or proper for the issuance of the policy of title insurance called for, is authorized. 4. AUTHORIZATION TO FURNISH COPIES You are authorized to furnish copies of these instructions, supplements, amendments, or notices of cancellation and closing statements in this escrow, to the real estate broker(s) and lender(s) named in this escrow. S. AUTHORIZATION TO EXECUTE ASSIGNMENT OF HAZARD INSURANCE POLICIES You are to execute, on behalf of the principals hereto, form assignments of interest in any insurance policy (other than title insurance) called for in this escrow; forward assignment and policy to the agent requesting that insurer consent to such transfer and /or attach a loss - payable clause and /or such other indorsements as may be required; and, forward such policy(s) to the principals entitled thereto. 6. PERSONAL PROPERTY TAXES No examination or insurance as to the amount or payment of personal property taxes is re- quired unless specifically requested. 7. RIGHT OF CANCELLATION Any principal instructing you to cancel this escrow shall file notice of cancellation in your office, in writing. You shall within two (2) working days thereafter mail, by certified mail one copy of such notice to each of the other principals at the addresses stated in this escrow. Unless written objection to cancellation is filed in your office by a principal within ten (10) days after date of such mailing, you are authorized to comply with such notice and demand payment of your cancellation charges as provided in this agreement. If written objection is filed, you ar authorized to hold all money and instruments in this escrow and take no further action until othe wise directed, either by the principals' mutual written instructions, or final order of a court e competent jurisdiction. The principals hereto expressly agree that you, as escrow holder, have the absolute right at your election to file an action in interpleder requiring the principals to answer and litigate their several claims and rights among themselves and you are authorized to deposit with the clerk of the court all documents and funds held in this escrow. In the event such action is filed the principals jointly and severally agree to pay your cancellation charges and costs, expenses an reasonable attorney's fees which'you are required to expend or incur in such interpleader action, the amount thereof to be fixed and judgment therefor to be rendered the court. Upon the filing of such action, you shall thereupon be fully released and discharged from all obligations to further perform any duties or obligations otherwise imposed by the terms of this escrow. B. TERMINATION OF AGENCY OBLIGATION If there is no action taken on this escrow within six (6) months after the "time limit aate" as set forth in the escrow instructions or written extension thereof, your agency obligatio: shall terminate at your option and all documents, monies or other items held by you shall be re- turned to the parties depositing same. In the event of cancellation of this escrow, whether it be at the request of any of the principals or otherwise, the fees and charges due Title Insurance and Trust Company, including expenditures incurred and /or authorized shall be borne equally by the parties hereto (unless otherwise agreed to specifically.' 9. CONFLICTING INSTRUCTIONS Upon receipt of any conflicting instructions other than cancellation instructions, you are no longer obligated to take any further action in connection with this escrow until further consistent instructions are received from the principals to this escrow except as provided in Paragraph 7 of these General Provisions. F,rLUTIOY NO. 549 (1959 Series) A RESOL ITION AUT17,0RIZI1w THZ HAYOR TO ACCEPT AND CC:;SEIT To RECD ATTCN OF DEEDS OR GRANTS TO THE CITY OF SAN LUIS OBISPO. VAEIhkS, Section 27281 of the Government Code of California as mended in 1957, permits the City Council, by general resolution, to au- thorize an agent to accept and consent to the recordation of deeds and grants conveying any interest in or easement upon real property to the City of San Luis Obispo for public purposes, by such agent executing the certificates as provided therein, which certificate shall be attached to or printed on the deed or grant; and jrT MI kS, it appears desirable to appoint the Mayor as such agent and to authorize him to accept and consent to such recording. rOT19 TF71WORE, BE IT RESOLVED by the City Council of the City of San Luis Obispo, State of California: 1. That the Mayor of the City of San Luis Obispo, is hereby designated as the agent to accept on behalf of said city and to consent to the recordation of any deed or grant conveying an interest in or easement upon real property to the City of San Luis Obispo. 2. That the City Clerk is hereby directed to record this resolution. PASSED AND ADOPTED this 18th day of May,, 1959, by the following roll call -vote: AYES: Kenneth W. Jones, Gerald W. Shipsey, Dr. J. Barry Smith, Donald Q. Miller, Fred M. Waters NOES: None ABSENT: None /s/ Fred M Waters Mayor ATTEST: /s/ J H Fitzpatrick City Clerk r� f 'r Is J, H, Fitzpatrick, the duly elected, qualified and acting City Clerk of the City of Saar Luis Obispo, do hereby certify tf:at the foregoing is a full, true and correct copy of Reeolution Itb.o 549 (1959 Series), passed and adopted by t:ie Council of the City of San Luis Obispo on the 18 day of May , 19590 Tn"L i'ESS my hard and the seal of the City of San Luis Obispo this 25 day of May , 19;90 Clty Jerk ��,.'.. RE-:C0RDz;J,'�i`��Gt`��1 �r1f Vp L %pp;LOrficiai Recc, c:3 r�•�-9a- SAN LUIS 031Spo Cou ITY,. CAL. !'j, Yf • ?, ii 195J ?' V Recorder gy dexed J TITLE INSURANCE AND TRUST March 1, 1979 City of San Luis Obispo P.O. Box 321 San Luis Obispo, Ca. 93406 Re: Escrow #125549 -EAR Gentlemen: Your escrow has been closed in accordance with instructions and we are pleased to enclose the following: 1. Check in the amount of $28.87, which represents Seller's prorata share of the 2nd installment 1978 -79 taxes, which have not been paid. 2. Statement showing receipts and disbursements. Your Deed will be mailed direct to you from the County Recorder's office within a few days. Your Policy of Title Insurance will also be mailed in a.few days. We appreciate the privilege of serving you in this matter. Very Truly Yours, Eda A. Rittenhouse Escrow Officer EAR /im Enclosures Title Insurance and Trust Company 1212 Marsh Street P.O. Box 810 San Luis Obispo, California 93406 805 543 2900 ATICOR COMPANY