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HomeMy WebLinkAboutD-1503 Damon Garcia Sports Fields 076-381-010 Ptn Recorded 11/24/1999'Doc No: 1999-002939 Rpt No: 001031211,' i RECORDING REQUESTED BY Official Records ; NF -1 0.00' CITY OF SAN LUIS OBISPO San Luis Obispo Co. Julie L. Rodewald ; WHEN RECORDED MAIL TO: I Recorder Nov 24, 1999 City of San Luis Obispo Time: 1 5: 1 4 i Attn: Paul LeSage 1341 Nipomo Street , San Luis Obispo, CA 93401 [ i l l 1 — , TOTr'l L 0.00 APN• n�(p -38i - DI D'PTAJ PURCHASE AND SALE AGREEMENT (Lathrop Property - San Luis Obispo, CA) THE CITY OF SAN LUIS OBISPO ( "Buyer "), a California Charter Municipal Corporation, hereby agrees to purchase, and SCOTT LATHROP ( "Seller "), hereby agrees to sell, all of Seller's right, title and interest in that certain real property in the County of San Luis Obispo, together with all easements, rights and appurtenances thereto, as described in Exhibit WA attached hereto and'incorporated by reference. Said property, shall hereinafter be referred to as the "Property." 1.- Purchase Price and Terms. The purchase price for the Property shall be Two Hundred Thirty -One Thousand Dollars ($231,000.00). The purchase price shall be payable'as follows: (a) By Buyer paying the purchase price in the form of a cashier's or certified check or wire transfer, payable to Escrow Holder, which shall be deposited by Buyer into Escrow not less than two (2) days prior to the Closing Date, as defined below. 2. Conditions Precedent. All of Buyer's duties to purchase the Property are expressly conditioned upon the occurrence and satisfaction of each of the following conditions, each of which is deemed exclusively for the benefit of Buyer: ('a) Title Report. Buyer's approval of the exceptions to title set forth in a CLTA preliminary title report for the Property (the "Preliminary Title Report "). Buyer shall -b ISo3 6 r have ten (10) days after the receipt of the Preliminary Title Report, and copies of all documents referenced therein, to provide to Seller written notice of Buyer's disapproval of any title exception. Any title exception not so disapproved shall be deemed approved, provided that if a Supplemental CLTA title report is issued showing any exception not shown on the Preliminary Title Report, Buyer shall have an additional ten (10) calendar days after receipt of such Supplemental Report to approve or disapprove any such title exception. If Buyer disapproves any title exception, Seller shall have no obligation to cure such disapproval (except that Seller shall be obligated to remove any liens) but Seller may elect, by written notice to buyer within five (5) calendar days after receipt by Seller of such notice of disapproval, to attempt to remove such disapproved items. If Seller is unable within a reasonable time to accomplish such cure or removal, or if Seller elects not to attempt to so cure or remove (which election shall be communicated to buyer within ten (10) days after receipt of Buyer's notice of disapproval), then Buyer may elect to (i) terminate its obligations,under this Agreement by providing written notice to Seller, or (ii) waive its objections to such exception, or (iii) elect to correct any such disapproved exception itself, in which case Seller shall use its best efforts to assist Buyer whenever Buyer may request in order to cure any such defect, provided that Seller shall incur no monetary obligations in connection with such cure, and provided escrow shall be.extended for a reasonable period in which to effect such cure. (b) Inspection and Approval of Property. Buyer's inspection and approval of.the Propert_y.and all improvements thereon, including at Buyer's option and expense, a noise study, a survey, a soils investigation, a Phase I or Phase II environmental report or any other investigation that the Buyer deems necessary. This condition shall be deemed approved if the Buyer does not send written notice of disapproval to Seller within thirty (30) days after the opening of Escrow. If Buyer discovers through its investigations any defects on the Property, or improvements thereon, which it disapproves of, Seller shall have no obligation to cure such defects but Seller may elect, by written notice to Buyer within five (5) calendar days after receipt by Seller of such notice of disapproval, to attempt to cure such disapproved defects. If Seller is unable within a reasonable time to accomplish such cure, or 2 • • if Seller elects not to attempt to cure said defects (which election shall be communicated to Buyer within ten (10) days after receipt of Buyer's notice of disapproval), then Buyer may elect to (i) terminate its obligations under this Agreement by providing written notice to Seller, or (ii) waive its "objections to such defects, or (iii) elect to correct any such disapproved defects itself, in which case. Seller shall use its best efforts to assist Buyer whenever Buyer-may request in order to cure any such defect, provided that Seller shall incur no monetary obligations in connection with such cure, or (iv) the parties may enter into additional negotiations, as may be mutually acceptable, concerning an adjustment to the purchase price, allocation of risk, or contribution to the cots to cure or other matters, and provided escrow shall be extended for a reasonable period of time to effect such negotiations 3. Escrow and Deposit (a) Closing Date. This purchase and sale shall close upon the recordation of the Grant Deed to Buyer (the "Close of Escrow "). The close of Escrow shall occur on or before sixty (60) days (the "Closing Date ") after a copy of this Agreement (executed by both Buyer and Seller) is deposited with the Escrow Holder, but no later than December 31, 1999, unless extended by mutual agreement of the parties, or as otherwise provided herein. (b) Escrow Holder. Within ten (10) business days after the execution of this Agreement, Seller shall open an Escrow for the consummation of the purchase and sale of the Property with First American Title Company, 899 Pacific St .. , San Luis .Obi-s.po,,. CA 93401 ( "Escrow Holder ") . The Escrow shall be deemed to be "opened" as of the date on which a copy of this Agreement (executed by Buyer and Seller) is deposited with Escrow Holder. (c) Escrow Instructions. Although Escrow Holder may require further written instructions executed by Buyer and Seller to clarify the duties and responsibilities of Escrow Holder, any such further instructions shall not modify or amend the provisions of this Agreement unless any such instructions expressly provide that they are intended to amend or modify the provisions of this Agreement. (d) Title Insurance. Title to the Property shall be conveyed by Grant Deed. Title to the Property shall be 3 insured by a CLTA owners.policy in the amount of the purchase price, showing title vested in Buyer, subject.only to those exceptions specified in the Preliminary Title Report and /or Supplemental Report and accepted by Buyer. Seller shall pay First American Title Company the cost of the CLTA policy. Buyer may elect to have title insured by an ALTA policy of title insurance, provided that the Buyer shall pay that portion of the premium which exceeds the costs of a CLTA standard coverage policy of title insurance. Buyer shall also pay the cost of any survey. (e) Fees and Taxes. Seller agrees to pay all documentary transfer taxes and recording fees. Escrow fees shall be borne equally. Real property taxes shall be prorated as of the close of Escrow, based on the most recently available tax bill. 4. Representations, Warranties, Agreements and Disclaimers (a) Authorized Representative. Buyer and Seller hereby represent and warrant to each other that the persons who sign this Agreement and any other documents required to be executed by such party to perform its obligations hereunder, shall have all requisite power and authority to have entered into this Agreement, and that all authorizations required to be obtained by or on the part of such party to execute and perform this Agreement have been obtained. (b) Proof of Citizenship. Seller is not a foreign person as such term is used in Section 1445 of the Internal Revenue Code,. Prior.,to the close of,..Escrow, Seller. shall deposit in Escrow a non - foreign affidavit as provided under said Section 1445, and the failure to do so shall entitle Buyer to withhold from the purchase price such sums as are required by said Section 1445. (c) Delivery of Property. Possession of the Property shall be delivered by Seller to Buyer upon the close of Escrow. Seller shall have the right prior to the close of escrow to remove all personal property and trade fixtures, if any, provided the Property-i.s left in a sound and tenantable condition. (d) Legal Actions. Seller represents and warrants that there are no actions, suits, or legal proceedings 4 0 1 . related to the ownership, use, operation or sale of the Property to which Seller is a party nor has Seller received any notice that any such actions are pending or threatened. (e) Indemnification by Seller. Effective as of the closing date, Seller shall indemnify and hold harmless Buyer from and against any and all claims, damages or liabilities, (whether or not caused by negligence), including civil or criminal fines, arising out of or relating to any of the following: (i) Any generation, processing, handling, transportation, storage treatment or disposal of solid wastes or hazardous wastes by Seller, including,'but not limited to, any of such activities occurring on any of the properties; (ii) Any releases by Seller (including, but not limited to, any releases as defined under the Comprehensive Environmental Response, Compensation and Liability Act of 1980) to the extent occurring or existing prior to closing, including but not limited to such releases to land, groundwater, surface water or into the air. (f) Seller's Knowledge of the Environmental Conditions of the Property. As an inducement to Buyer to enter into this agreement, Seller, to the best of Seller's knowledge and belief, represents and warrants that: (i) Throughout the period of ownership of the Property by Seller, there have been.no notices, directives, violation reports or actions by any local, state or federal department or agency concerning environmental.:laws.or regulations, and the Property is in compliance with all state and federal environmental laws; (ii) The business and operations of Seller have at all times been conducted in compliance-with all applicable federal, state, local or foreign laws, ordinances, regulations, orders and other requirements of governmental authorities on matters relating to the environment. (iii) There has been no spill, discharge, release, cleanup or contamination of or by any hazardous or toxic waste or substance used, generated, treated, stored, 5 �J r1 L J disposed of or handled by the Seller on or around the Property. (iv) There are no underground storage tanks located at, on or under the Property; (v) No hazardous or toxic substances or wastes are located at, or have been located on or removed from the Property. (vi) All studies, reports, and investigations, known to Seller, concerning any pollution, toxic building materials or toxic hazardous substances or wastes located at, on, or under the Property have been provided or otherwise been disclosed to Buyer prior to the close of Escrow. (vii) There are no soil or geological conditions which might impair or adversely affect the current.use or future plans for use of the Property. S. Notices All notices, communications, consents, approvals and disapprovals required or permitted hereunder must be in writing and shall be delivered by personal delivery, facsimile, or deposited in the United States mail, postage prepaid and addressed as follows: TO BUYER: City of San Luis Obispo Paul LeSage, Parks and Recreation Director 1341 Nipomo. St.. . San.Luis Obispo, CA 93401 TO SELLER: Scott Lathrop 1619 LaVineda San Luis. Obispo, CA 93401 The foregoing addresses may be changed by written notice. If served personally, or by facsimile, service shall be conclusively deemed made at the time of service. If served by mail, service shall be conclusively deemed made seventy - two (72) hours after the deposit thereof on the United States mail. C 6. Brokers Buyer and Seller each represent to the other that it knows of no claim for broker's or finder's fees or other commissions in connection with this transaction other than as provided in this paragraph. In the event any broker or finder asserts a claim for a commission or finder's fee, the party through whom the broker or finder makes this claim shall indemnify the other party for any and all costs and expenses (including attorney's fees) incurred by the other party in defending the same. Seller has an agreement to pay to Rossetti Company a sales commission at the close of escrow. 7. Miscellaneous. This Agreement contains the entire agreement between the parties hereto, and no modification or addition to any term or provision shall be effective unless made in writing and signed by both parties hereto. In the event any litigation is commenced between the parties hereto in connection with this Agreement, the prevailing party in such litigation shall be entitled to a reasonable sum for its attorneys fees and costs. The captions and headings in this Agreement are for reference only and shall not be deemed to define or limit the scope or intent of any of the terms, covenants, conditions or agreements contained herein. 8. Entry With.respect to Paragraphs 2 and 5, Buyer, its agents and authorized representatives shal.l.have the right- to-enter onto the Property during normal business hours, or at such other times as may be mutually agreed to by the parties, which consent to enter shall not be unreasonably withheld. Buyer shall indemnify and defend Seller against and hold Seller harmless from, any and all liability, cost and expense (including without limitation any and all recorded mechanics or other liens) for loss of or damage to any property or injury to or death of any person arising out of or in any way related to the entry by'Buyer or Buyer's agents onto the Property, unless such liability, cost and expense is caused by the sole, active negligence of Seller. In the event of the recording of any claim of lien for materials supplied or labor or professional services performed on behalf of Buyer, Buyer shall promptly iA satisfy and discharge such lien at its sole cost and expense upon demand therefore by Seller. Buyer shall repair any and all damages to the Property caused by any such tests and inspections. 9. Structures. Seller shall remove all structures from the Property, excluding foundations, prior to close of escrow. "Structures" shall include, but not be limited to, underground tanks or structures., if any. 10. Street Improvements. .As part of the consideration for this Agreement, upon annexation of Seller's remainder property to the City of San Luis Obispo, Seller shall dedicate and construct the street improvements shown on Exhibit A, including but not limited to, a "T" intersection, roadway, and curb, gutter and sidewalk along all street frontages of Buyer's property, in a manner and according to the standards of the City of San Luis Obispo. In order to insure completion of the above street improvements, Seller shall, prior to the close of escrow, provide Buyer with a letter of credit in a form acceptable to buyer in an amount equal to the estimated actual cost of said improvements. In the event the annexation of the Seller's remainder property does not occur within twelve months of the close of escrow, through no fault of Seller, and after diligently pursuing said annexation, then the obligation to install the above - described street improvements shall cease and the letter of credit may be released; provided, if the City.of San Luis Obispo is diligently pursuing said annexation in its capacity as a municipal corporation, and the annexation is delayed through no fault of the City, then Seller's obligation to complete the street improvements and provide a letter of credit shall be extended for an additional six months beyond the initial twelve month period. 11. Creation of Legal Parcel. It is contemplated between the parties that the property described in Exhibit A will be conveyed by way of a government lot, at the sole cost of Seller, or other similar lot division, should the Parties so agree. 1 12. Survival. The warranties, representations and agreements made in this Agreement shall survive the close of escrow. m4w, a 12V 0 MOTT LATHROP "BUYER" CITY OF SAN LUIS OBIS P BY: Allen K. Settle .Mayor of the City of San Luis Obispo Date: November 16, 1999 ATTEST: ( , I" z---) / 7, 1 k APPROVED AS TO FORM: 66 0 EXHIBIT "A" LEGAL DESCRIPTION That portion of Lot 85 of the San Luis Obispo Suburban Tract, in the County of San Luis Obispo, State of California, according to the map filed February 6, 1906 in Book 1 at Page 92 of Record of Surveys, in the Office of the County Recorder of said County, excepting therefrom that portion of said land described in the deed to the State of California recorded April 11, 1975 in Book 1827 at Page 577 of Official Records, more particularly described as follows: Beginning at the intersection of the southwesterly line of the property described in said deed to the State of California with a line offset 30.00 feet northwesterly from the southwesterly prolongation of the centerline of Industrial Way as said road is shown on the map for Tract 2133 filed in Book 17 of Maps at Page 94 in said Recorder's Office; thence parallel with the northwesterly line of said Lot 85- 1. South 66 035'25" West (record South 65 °10' West per said Record of Survey) a distance of 328:12 ,feet to the beginning of a tangent curve'concave northerly having a radius of 20.00 feet; thence leaving said parallel line 2. westerly along the arc of said curve through a central angle of 90 °00'00" an arc length of 31.42 feet; thence 3. North 23 024'35" West a distance of 49.62 feet more or less to the northwesterly line of said Lot 85; thence along said northwesterly line 4. North 66 035'25" East (record North 65 010' East per said Record of Survey) a distance of 351.33 feet more or less to the southwesterly line of the property described in said deed to the State of California and the beginning of a non - tangent curve concave northeasterly having a radius of 7055.00 feet, a radial to said curve bears South 69 031'02" West; thence along said southwesterly line 5. southeasterly along the arc of said curve through a central angle of 0 033'58" an arc length of 69.71 feet more or less to the Point of Beginning containing 0.56 acres more or less. Said property is shown graphically in Exhibit "A" page 2 of 2 attached hereto and incorporated herein by reference. f41IGHAEL R. STMffON LS. 5702 O.L ��OFCp1-\(Ae'\R / Page 1 of 2 EA1999 \99442 Lathrop Broad St Annex \Survey\Park legal.doc 11/04/99 - I STATE a XHIB IT I- M Z ?� HWY. BROAD I I P.O.B. /C Z 49. 2> 1 > T_Rr�r7 2133 oT 227 " STREET I FUTURE CURB, GUTTER, AND SIDEWALK BY LA THROP i tr� GRAPHIC SCALE 0 0 30 so 120 1 inch = 60 feet R R M D E S I G N G R O U P PLAT _ Architecture • Planning • Engineering • Surveying • Interiors • Landscape Architecture OF A POR77ON OF LOT 85 OF ACR 3701 South iiiguera Street t, San Luis Obispo, California 93401 805 /543 -1794 1 —RS -92 > €€ �# • rem MA—1 ace seals, is am, Michael Stanton M 57M 11 -4 -99 P99442 PAGE 2 OF 2 END OF DOCI IM!=r\i r D= 00 ;33'58" R= 7055.00';:':;; L= 69.71' 'D= 90100'00°:;:` R= 20.00' L= 31.42' 49. 2> 1 > T_Rr�r7 2133 oT 227 " STREET I FUTURE CURB, GUTTER, AND SIDEWALK BY LA THROP i tr� GRAPHIC SCALE 0 0 30 so 120 1 inch = 60 feet R R M D E S I G N G R O U P PLAT _ Architecture • Planning • Engineering • Surveying • Interiors • Landscape Architecture OF A POR77ON OF LOT 85 OF ACR 3701 South iiiguera Street t, San Luis Obispo, California 93401 805 /543 -1794 1 —RS -92 > €€ �# • rem MA—1 ace seals, is am, Michael Stanton M 57M 11 -4 -99 P99442 PAGE 2 OF 2 END OF DOCI IM!=r\i r i; 'Doc No: 1999- 08M -- Rpt NO: 0010— Official Records ;RF -1 13.001 Recording Requested by: ! San Luis Obispo Co. ; Danny Tran Julie L. Rodewa 1 d ; Recorder ; Nov 24, 1999 ; when recorded mail to: Time: 11:00 ; Director of Public Works 955 Morro Street ! [ 3 j 'TOTAL 13.00 San Luis Obispo, CA 93401 - - -- AGREEMENT AFFECTING REAL PROPERTY AND PERMIT FOR TEMPORARY ENCROACHMENT WITHIN THE PUBLIC RIGHT -OF -WAY FOR AND IN CONSIDERATION of the issuance of this revocable permit to allow an encroachment temporarily within the public right -of -way, said encroachment consisting of A block or concrete retaining wall adjacent to the public sidewalk on Oceanaire and Galleon Way. Said wall shall not exceed 3 feet high and shall be constructed around the existing street sign at the corner. The undersigned owners of the real property hereinafter described, hereby covenant with the City of San Luis Obispo to remove said improvements without cost to said City upon thirty (30) days written notice, which may be given by the City at any time at its sole option and discretion. l� If the owner of the property described below does not remove the encroachment authorized w1 herein when requested by the City, City may proceed'to require removal under the Municipal Code nuisance provisions and to assess the cost of said removal against the real property described herein.. Owners further acknowledge that, in the event of such removal by City, City is not liable for any damages to the encroachment or to any adjacent real or personal property. Owner further agrees to hold harmless City from any claims, suits or losses of any kind alleged to have arisen out of the maintenance or placement of said encroachment and to indemnify City for any and all costs of judgments relating to said claims, suits or losses, including attorney's fees. Said property is located in the City of San Luis Obispo, County of San Luis Obispo, State of California, and is described as follows: Lot 11 of Tract 569, recorded in the Office of the County Recorder in Book 9 of Maps at Page 4, City of San Luis Obispo, County of San Luis Obispo, State of California. 2. Assessor Parcel Number: 004 - 331 -012 3. Commonly known as 1195 Oceanaire Drive, San Luis Obispo, CA. -b (so3fl AGREEMENT AFFECTING REAL PROPERTY Page 2 This covenant shall run with the land and shall be binding upon. the undersigned owners, their heirs, executors, administrators, and assigns. Dated this _qj):) day of Spa�Cpr, 1999. Owner: Dann Tran APPROVED: r/f � -pill tor City of San Luis Obispo (Authorization - Resolution No. 3897, 1979 Series) State of California County of San Luis Obispo} PAMELA K. KING Commission # 1227306 _ Notary Public - California San Luis Obispo County My Comm. Expires Jul 2 2003 On September 9,- -1999; before me, Diane R. Stuart, Notary Public, personally appeared Danny Hung Hy Tran ( ) personally known to me or (X) proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument,the person or the entity upon behalf of which the person acted, executed the instrument. Witness my hand and official seal. :��.�vY. IF— -. , o Notary blic Capacity claimed by signer(s): oFFICtAL sEAL P DIANE R. STUART ? ® WP t 1 a OA SSION / C SAN LUIS OSISPO OOUNTV My CWWdedw UAL ,pure 20, 2001 Nrldividual(s) () corporation () partnership () attorney -in -fact (X ) political agency Agreement affecting real property ilk • 0 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT State of California County of , Q ss. On (10 " 19 before me, PAMELA K. RING, NOTARY PUBLIC Date Name and Title of Officer (e.g., "Jane Doe, Notary Public ") personally appeared MICHAEL D. MCCLUSKEY Name(s) of Signer(s) personally known to me ❑ proved to me on. the basis of satisfactory evidence to be the persons whose name) is/a;@, subscribed to the within instrument and acknowledged to me that he /shelth" executed the same in his /4er+teir authorized U. PAMELA K. KING ca acit I Commission # 1227306 P Y and that by his /ei�. Notory Pubc- Carifomia g r signature(-Nl.on the instrument the personjs), or San Luis Obispo Courriy' the entity upon behalf of which the personX My Comm. Expires Jul 2,2003 acted, executed the instrument. NESS my hand and ffiicial se I. Place Notary Seal Above Signature of Notary Public - . OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document } and could prevent fraudulent removal and reattachment of this form to another document. Description oi.Attached Document Title or Type of Document: Document Date: Number of Pages: Signer(s) Other Than Named Above: Capacity(ies) Claimed by Signer Signer's Name: ❑ Individual ❑ Corporate Officer = Title(s): ❑ Partner,,= ❑ Limited ❑ General ❑ Attorney in.Fact ❑ Trustee- El Guardian or Conservator ❑ Other: Signer Is Representing: RIGHT THUMBPRINT OF SIGNER Top of thumb here i © 1997 National Notary Association - 9350 De Soto Ave., P.O. Box 2402 - Chatsworth, CA 91313 -2402 Prod. No. 5907 Reorder: Call Toll -Free 1- 800 -876 -6827 END OF DOCUMENT S C A M E R C F1Q 9'Y aoo ova r s First American Title Insurance Company • 899 PACIFIC STREET (P.O. BOX 1147), SAN LUIS OBISPO, CA 93401 559 FIVE CITIES DRIVE, PISMO BEACH, CA 93449 935 RIVERSIDE, SUITE 13, PASO ROBLES, CA 93446 6895 MORRO ROAD, ATASCADERO, CA 93422 815 MORRO BAY BOULEVARD, MORRO BAY, CA 93442 1352 LOS OSOS VALLEY ROAD, SUITE C, LOS OSOS, CA 93402 783 ARLINGTON STREET, CAMBRIA, CA 93428 City of San Luis Obispo Paul LeSage, Parks and Recreation Director 1341 Nipomo Street San Luis Obispo, CA 93401 RE: Portion of Lot 85, SLO Sub. Tract, San Luis Obispo, CA 93405 Policy of Title Insurance Number: SLO-37061-BJS Escrow No.: 37061-BJS • (805) 543-8900 • (805) 773-6600 • (805) 238-7747 • (805) 466-8545 • (805) 772-2773 • (805) 5285224 • (805) 927-6192 NOTE: THIS CONTAINS IMPORTANT INFORMATION ABOUT THE REAL ESTATE TRANSACTION YOU HAVE NST COMPLETED. PLEASE READ IT AND RETAIN IT WITH YOUR OTHER VALUABLE PAPERS PERTAINING TO THE PROPERTY. The new home or other real estate you have purchased is protected with a Policy of Title Insurance Issued by First American Title Insurance Company. This is your guarantee of ownership. We have assigned the above number to your records to assure prompt processing of future title orders involving the property. If you sell or obtain a loan on this property within FIVE years, First American Title will REDUCE THE USUAL POLICY RATE BY 20 PER CENT. To obtain this SAVINGS, it will be necessary for you to inform the real estate agent and/or escrow holder handling further transactions that such policies of title insurance as are required should be issued by First American Title, and you must request the escrow officer to forward this letter to us with the order for title insurance. We appreciate the opportunity of serving you and will be glad to assist you in any way, remembering that PROTECTION OF YOUR PROPERTY IS YOUR FIRST C�ONSIDERATION - AND OURS. Mane Allen Phone: (805) 543-8900 Fax: (805) 543-5524 Form No. 1402.92 (10117/92) ALTA Owners Policy J r POLICY Our TITLE INSURANCE )SSUI'D BY First American Title Insurance Company SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the 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 the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys, fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. 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Jo suo!suawip 1813ele43 gig (!!) 'puel ayj jo juawAofua Jo 'asn 'Aouedn000 agl (!) o16u4ElaJ Jo 6u4!q!4oJd '6u4e!n6aJ '6u4ou1saJ (suo4eln6aJ Jo 'saoueu!pJo 'smei 6wuoz pue 6u!plinq of paliw4 lou jnq 6uipnlou!) uo4eln6aJ lejuawwano6 Jo aoueuipJo 'mEl Auy (e) :jo uoseoi Aq asue loigm sasuadxa Jo saal ,sAawolje 'slsoo 'a6ewep Jo ssol Aed jou p!m Auedwoo agl pue Aoilod s!y110 96EJ8Ao3 all W04 papnloxe AlssaJdxa aJe sjouew 6u!mollol 941 30V83AOO IN083 sNolsnim ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS SCHEDULE A TOTAL FEE FOR TITLE, EXAMINATION AND TITLE INSURANCE $784.00 AMOUNT OF INSURANCE: $231,000.00 POLICY DATE: DECEMBER 30, 1999 AT 8:00 A. M. 1. NAME OF INSURED: CITY OF SAN LUIS OBISPO, A CALIFORNIA CHARTER MUNICIPAL' CORPORATION 2. THE ESTATE OR INTEREST IN THE LAND WHICH IS COVERED BY THIS POLICY IS: A FEE 3. TITLE TO THE ESTATE OR INTEREST IN THE LAND IS VESTED IN: CITY OF SAN LUIS OBISPO, A CALIFORNIA CHARTER MUNICIPAL CORPORATION 4. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS: (SEE EXHIBIT "A" ATTACHED HERETO.) PAGE 2 ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS SCHEDULE B EXCEPTIONS FROM COVERAGE THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE (AND THE COMPANY WILL NOT PAY COSTS, ATTORNEYS' FEES OR EXPENSES) WHICH ARISE BY REASON OF: PART ONE: TAXES OR ASSESSMENTS WHICH ARE NOT SHOWN AS EXISTING LIENS BY THE RECORDS OF ANY TAXING AUTHORITY THAT LEVIES TAXES OR ASSESSMENTS ON REAL PROPERTY OR BY THE PUBLIC RECORDS. 2. ANY FACTS, RIGHTS, INTERESTS, OR CLAIMS WHICH ARE NOT SHOWN BY THE PUBLIC RECORDS BUT WHICH COULD BE ASCERTAINED BY AN INSPECTION OF SAID LAND OR BY MAKING INQUIRY OF PERSONS IN POSSESSION THEREOF. 3. EASEMENTS, CLAIMS OF EASEMENT OR ENCUMBRANCES WHICH ARE. NOT SHOWN BY THE PUBLIC RECORDS. 4. DISCREPANCIES, CONFLICTS IN BOUNDARY LINES, SHORTAGE IN AREA, ENCROACHMENTS, OR ANY OTHER FACTS WHICH A CORRECT SURVEY WOULD DISCLOSE, AND WHICH ARE NOT SHOWN BY PUBLIC RECORDS. 5. UNPATENTED MINING CLAIMS; RESERVATIONS OR EXCEPTIONS IN PATENTS OR IN ACTS AUTHORIZINGTHEISSUANCETHEREOF; WATER RIGHTS, CLAIMS OR TITLE TO WATER. 6. ANY LIEN, OR RIGHT TO A LIEN, FOR SERVICES, LABOR OR MATERIAL THERETOFORE OR HEREAFTER FURNISHED,IMPOSED BY LAW AND NOT SHOWN BY THE PUBLIC RECORDS. PART TWO: AN EASEMENT FOR THE HEREINAFTER SPECIFIC PURPOSE AND INCIDENTAL PURPOSES, IN FAVOR OF PACIFIC GAS AND ELECTRIC COMPANY, A CALIFORNIA CORPORATION, IN INSTRUMENT RECORDED AUGUST 19, 1999 AS INSTRUMENT NO. 1999-060573 OF OFFICIAL RECORDS. SAID EASEMENT IS FOR THE RIGHT FROM TIME TO TIME TO CONSTRUCT, RECONSTRUCT, INSTALL, INSPECT, MAINTAIN, REPLACE AND REMOVE, AND IS MORE PARTICULARLY DESCRIBED IN THE ABOVE MENTIONED DOCUMENT. PAGE 3 ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS EXHIBIT "A" ALL THAT CERTAIN LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN LUIS OBISPO, AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 85 OF THE SAN LUIS OBISPO SUBURBAN TRACT, IN THE COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AS PER THE MAP FILED FEBRUARY 6, 1906 IN BOOK 1, PAGE 92 OF RECORD OF SURVEYS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING THEREFROM THAT PORTION OF SAID LAND DESCRIBED IN THE DEED TO THE STATE OF CALIFORNIA RECORDED APRIL 11, 1975 IN BOOK 1827, PAGE 577 OF OFFICIAL RECORDS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTHWESTERLY LINE OF THE PROPERTY DESCRIBED IN SAID DEED TO THE STATE OF CALIFORNIA WITH A LINE OFFSET 30.00 FEET NORTHWESTERLY FROM THE SOUTHWESTERLY PROLONGATION OF THE CENTERLINE OF INDUSTRIAL WAY AS SAID ROAD IS SHOWN ON THE MAP FOR TRACT 2133 FILED IN BOOK 17 OF MAPS AT PAGE 94 IN SAID RECORDER'S OFFICE; THENCE PARALLEL WITH THE NORTHWESTERLY LINE OF SAID LOT 85 (1) SOUTH 66035'25" WEST (RECORD SOUTH 65° 10' WEST PER SAID RECORD OF SURVEY) A DISTANCE OF 328.12 FEET TO THE POINT OF BEGINNING OF A TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 20.00 FEET; THENCE LEAVING SAID PARALLEL LINE (2) WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 90000'00" AN ARC LENGTH OF 31.42 FEET; THENCE (3) NORTH 23°24'35" WEST A DISTANCE OF 49.62 FEET MORE OR LESS TO THE NORTHWESTERLY LINE OF SAID LOT 85; THENCE ALONG SAID NORTHWESTERLY LINE (4) NORTH 66035'25" EAST (RECORD NORTH 650 10'"EAST PER SAID RECORD OF SURVEY) A DISTANCE OF 351.33 FEET MORE OR LESS TO THE SOUTHWESTERLY LINE OF THE PROPERTY DESCRIBED IN SAID DEED TO THE STATE OF CALIFORNIA AND THE BEGINNING OF A NONTANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 7055.00 FEET, A RADIAL TO SAID CURVE BEARS SOUTH 69°31'02" WEST; THENCE ALONG SAID SOUTHWESTERLY LINE (5) SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 0933'58" AN ARC LENGTH OF 69.71 FEET MORE OR LESS TO THE POINT OF BEGINNING. PAGE ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS KC WARNING "THE MAP ATTACHED HERETO MAY OR MAY NOT BE A SURVEY OF THE LAND DEPICTED THEREON. YOU SHOULD NOT RELY UPON IT FOR ANY PURPOSE OTHER THAN ORIENTATION TO THE GENERAL LOCATION OF THE PARCEL OR PARCELS DEPICTED. FIRST AMERICAN EXPRESSLY DISCLAIMS ANY LIABILITY FOR ALLEGED LOSS OR DAMAGE WHICH MAY RESULT FROM RELIANCE UPON THIS MAP." PAGE 5 9+6J i "X,w I �JD�:ST G 10 T p {� O I w D of taf .p Iy J T Iw w CA C N— O w ° O Z w V C G m O M _ //��` A 1� N b m 0 o n a 40 '� � � 4 � ID CD qqw G W � � ° 1 I D 0v n w •f G co n w w G r O I a i I O s N G O w fmyl O al A y Q . y c CD C: 1 I sai.ic �� • D ♦ A m SANTA a m a� •r os • rs n �� 5 e � D N � n V i ft Lr S' Ir 9t7 a 2 n v C n° rw 1 N 0 m C O O ' ]p In 2 e > O O Iw Z W 00 11/3U/VV IU:13 FAA Su* 00 824 rAiLU ALU- wiUU3 EXHIBIT A Q TRACT ?)3� 17 JMAPS-04 co S z o� _ Tqr0 4� HWY. — 227 " BROAD P.o.e. STREET I 30' - •.. ai�;E:;.•::� SII' � � . . R=7055. R-2Qo0' •—r• .n. FUTURE CURB. GUrrER. AND SIDEWALK BY LAIHROP &"%- 30 u43p 6a cinch =ao iF7 •N2324:�5"W iB � — MLM"mR R M D E S I G N GR O U P AmWdum • Plem* • &&� • Sbmjivl . Ialerforr .PLA T m sulk Rpmgam• go LiwdscVe 1rehi�n• " OF A PORnav OF Lor 85 of •+e+r a: xao� v a+ lkSlornie 9310! eo5/549-1791 l—RS-92 nm.x ° 679x' 11-4-99 P99442 PAGE 2 OF 2 ...•.tea made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force Ln favor of any purchaser from the insured of either (i) an er or interest in the land, or (ii) an indebtedness secured purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The insured shall notify the Company promptly in writing (1) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the tide to the estate or interest, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if tide to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE. (a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or en- cumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and 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, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any 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. (d) 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 shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, 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 the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against Gompany for cancellation. (b) To Pay or Otherwise Settle With Parties Other than, the Insured or With the Insured Glaimam. (i) to pay or otherwise settle with other parties. or in the name of an insured claimant any claim insureo against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred bythe insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii), the Com- pany's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the Amount of Insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that porton of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT. If the land described in Schedule (A)(C) consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the Amount of Insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made sub- sequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the comple- tion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order 'to peribcf this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and remedies in the proportion which the Company's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against non-insured Obligors. The Company's right of subrogation against non- insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. ARBITRATION. Unless prohibited by applicable law, either the Com- pany or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attomeys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpret- ing any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a 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. 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company at 114 East Fifth Street, Santa Ana, California 92701, or to the office which issued this policy. M Form No. 1402.92 (10/17/92) ALTA Owner's Policy POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance Company SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the 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 the title; 3. Unmarketability of the title; 4. Lack of a right of access to and from the land. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. First American Title Insurance Company BY' 4 PRESIDENT J 1178128 178q28 ATTEST SECRETARY' OA94 opium +utwit1u peniaul ay+ gaigm aaiptww put by4uu Ile of polMe aq pup of poleBoigns aq Veils Auedwop aqi luew!e!a painsw a4l Io 13e Aug Aq poloageun Auedwo0 mg w lsan lleys uoge6oJgns 10 w6u Ile 'Apgod s!41 Japun w!ep e pled pup paglas ane4 lleqs Auedwop ag1 JanauagM uoge6agng {o WBnI sAtuedwo0 oql (e) •1N3W31113S NO 1N3WAYd NOdn NOLLYSOMS •El uaueaia43 sAPP 0C u!4Um olgehed aq gegs a6ewep io ssal a4I'suogelndgS pue suo!UPuop asa414Am aauepioaoe u! 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Aug 10 uoggpol Jo suo!suaw!p '1alpeJe4p ay1(!!) 'pue! alp Io luawAofua io 'asn 'Apuednpoo Bill (!) of bugelaJ J0 6u q!q!4oid'6ugeln6aJ 16ugpulsai (suoge!n6ai io 'snueu!pio'smel buluoz pup 6ulpl!nq o1 pal!wg lou lnq 6u!p lou!) uogeln6ai leluawwano6 Jo apueu!pio 'Mel Auy (e) 1 :10 uoseaJ Aq asue g314m sasuadxa Jo saal ,shuuolle 'slsoo 'a6ewep Jo ssol Aed lou lIpA Auedwo0 ayi pue 4311od s!41;0 26eiah03 a41 wal; papnlpxa Alssaidxa Big siauew 6u!mollo; a4i 10VU3A03 AM sNolsmox3 ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS SCHEDULE A TOTAL FEE FOR TITLE, EXAMINATION AND TITLE INSURANCE $784.00 AMOUNT OF INSURANCE: $231,000.00 POLICY DATE: DECEMBER 30, 1999 AT 8:00 A. M. L NAME OF INSURED: CITY OF SAN LUIS OBISPO, A CALIFORNIA CHARTER MUNICIPAL CORPORATION 2, THE ESTATE OR INTEREST IN THE LAND WHICH IS COVERED BY THIS POLICY IS: A FEE 3. TITLE TO THE ESTATE OR INTEREST IN THE LAND IS VESTED IN: CITY OF SAN LUIS OBISPO, A CALIFORNIA CHARTER MUNICIPAL CORPORATION 4. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS: (SEE EXHIBIT "A" ATTACHED HERETO.) PAGE 2 ALTA OWNERS POLICY REGIONAL EXCEPTIONS SLO-37061-BEVERLY SOUZA-A SCHEDULE B EXCEPTIONS FROM COVERAGE THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE (AND THE COMPANY WILL NOT PAY COSTS, ATTORNEYS' FEES OR EXPENSES) WHICH ARISE BY REASON OF: PART ONE: I. TAXES OR ASSESSMENTS WHICH ARE NOT SHOWN AS EXISTING LIENS BY THE RECORDS OF ANY TAXING AUTHORITY THAT LEVIES TAXES OR ASSESSMENTS ON REAL PROPERTY OR BY THE PUBLIC RECORDS. 2. ANY FACTS. RIGHTS, INTERESTS, OR CLAIMS WHICH ARE NOT SHOWN BY THE PUBLIC RECORDS BUT WHICH COULD BE ASCERTAINED BY AN INSPECTION OF SAID LAND OR BY MAKING INQUIRY OF PERSONS IN POSSESSION THEREOF. 3. EASEMENTS, CLAIMS OF EASEMENT OR. ENCUMBRANCES WHICH ARE NOT SHOWN BY THE PUBLIC RECORDS. 4. DISCREPANCIES, CONFLICTS IN BOUNDARY LINES, SHORTAGE IN AREA, ENCROACHMENTS, OR ANY OTHER FACTS WHICH A CORRECT SURVEY WOULD DISCLOSE; AND WHICH ARE NOT SHOWN BY PUBLIC RECORDS. 5. UNPATENTED MINING CLAIMS; RESERVATIONS OR EXCEPTIONS IN PATENTS OR IN ACTS AUTHORIZING THE ISSU ANCETHEREOF; WATER RIGHTS, CLAIMS OR TITLE TO WATER. 6. ANY LIEN, OR RIGHT TO A LIEN, FOR SERVICES, LABOR OR MATERIAL THERETOFORE OR HEREAFTER FURNISHED,IMPOSED BY LAW AND NOT SHOWN BY THE PUBLIC RECORDS. PART TWO: AN EASEMENT FOR THE HEREINAFTER SPECIFIC PURPOSE AND INCIDENTAL PURPOSES, IN FAVOR OF PACIFIC GAS AND ELECTRIC COMPANY, A CALIFORNIA CORPORATION, IN INSTRUMENT RECORDED AUGUST 19, 1999 AS INSTRUMENT NO. 1999-060573 OF OFFICIAL RECORDS. SAID EASEMENT IS FOR THE RIGHT FROM TIME TO TIME TO CONSTRUCT, RECONSTRUCT, INSTALL, INSPECT, MAINTAIN, REPLACE AND REMOVE, AND IS MORE PARTICULARLY DESCRIBED IN THE ABOVE MENTIONED DOCUMENT. PAGE(3 ALTA OWNERS POLICY SIA -37061 -BEVERLY SOUZA-A REGIONAL EXCEPTIONS EXHIBIT "A" ALL THAT CERTAIN LAND SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN LUIS OBISPO, AND IS DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 85 OF THE SAN LUIS OBISPO SUBURBAN TRACT, IN THE COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AS PER THE MAP FILED FEBRUARY 6, 1906 IN BOOK 1, PAGE 92 OF RECORD OF SURVEYS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPTING THEREFROM THAT PORTION OF SAID LAND DESCRIBED IN THE DEED TO THE STATE OF CALIFORNIA RECORDED APRIL 11, 1975 IN BOOK 1827, PAGE 577 OF OFFICIAL RECORDS, MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTHWESTERLY LINE OF THE PROPERTY DESCRIBED IN SAID DEED TO THE STATE OF CALIFORNIA WITH A LINE OFFSET 30.00 FEET NORTHWESTERLY FROM THE SOUTHWESTERLY PROLONGATION OF THE CENTERLINE OF INDUSTRIAL WAY AS SAID ROAD IS SHOWN ON THE MAP FOR TRACT 2133 FILED IN BOOK 17 OF MAPS AT PAGE 94 IN SAID RECORDER'S OFFICE; THENCE PARALLEL WITH THE NORTHWESTERLY LINE OF SAID LOT 85 (1) SOUTH 66035'25" WEST (RECORD SOUTH 650 10' WEST PER SAID RECORD OF SURVEY) A DISTANCE OF 328.12 FEET TO THE POINT OF BEGINNING OF A TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 20.00 FEET; THENCE LEAVING SAID PARALLEL LINE (2) WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 90000'00" AN ARC LENGTH OF 31.42 FEET; THENCE (3) NORTH 23°24'35" WEST A DISTANCE OF 49.62 FEET MORE OR LESS TO THE NORTHWESTERLY LINE OF SAID LOT 85; THENCE ALONG SAID NORTHWESTERLY LINE (4) NORTH 66°35'25" EAST (RECORD NORTH 65 ° 10' EAST PER SAID RECORD OF SURVEY) A DISTANCE OF 351.33 FEET MORE OR LESS TO THE SOUTHWESTERLY LINE OF THE PROPERTY DESCRIBED IN SAID DEED TO THE STATE OF CALIFORNIA AND THE BEGINNING OF A NONTANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 7055.00 FEET, A RADIAL TO SAID CURVE BEARS SOUTH 69°31'02" WEST; THENCE ALONG SAID SOUTHWESTERLY LINE (5) SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 0033'58" AN ARC LENGTH OF 69.71 FEET MORE OR LESS TO THE POINT OF BEGINNING. PAGE 4 i ALTA OWNERS POLICY SLO-37061-BEVERLY SOUZA-A REGIONAL EXCEPTIONS KC WARNING "THE MAP ATTACHED HERETO MAY OR MAY NOT BE A SURVEY OF THE LAND DEPICTED THEREON. YOU SHOULD NOT RELY UPON IT FOR ANY PURPOSE OTHER THAN ORIENTATION TO THE GENERAL LOCATION OF THE PARCEL OR PARCELS DEPICTED. FIRST AMERICAN EXPRESSLY DISCLAIMS ANY LIABILITY FOR ALLEGED LOSS OR DAMAGE WHICH MAY RESULT FROM RELIANCE UPON THIS MAP." PAGE 5 I /Jo°,SS dmS twN pp m Ql G I co ° 0 o a w ly` M v a o W N ch I} a n C c 2 G of O 4 A r s>i s♦ C m I A b b 4 a mto • V y (A to W Qi � W N i u i i 0 W m Obi H - - demos - 17 a i o W p N N C l7 O I • � yo •� qX O1v } A M 0 co N 7A FE z' a N J v ~ „ate t �' its • h w n •\ ih O x { f V � Y 7� DN• � c \ a , \ 04 d \ •T nen \ Vn `® \ \ r Go y •` y �o \ r• � N 39 2 n 0 C - T n � �O a O O O T A to 2 e n O O O1 z I 00 11/3U/UU 10:13 FAA OUB 044 a624 bA1W JLU WJUU;S EXHIBIT "A" T�7Ar T 1 3 STATE Qo Q� o�1,`0Hwy LR — 227 " ! BROAD I Ir P.O.B. 30' STREET 1 R=7055.00' / -!A �' F"UR£ CURB. GMER. AND SIDEWALK BY LA74R0P I D-00100100, i R-20.00' L=31,41' `•' : N2324.35'W f I 149.62' R R M D E S I G N G R 0 U P Arch1[eefrur • R*4"V - 4&l** . S&MX g - dotorlals • MaboW AmAiUdum s+o! SoaW 4m arecL Sea LM M po, caw mie asst e�/s4s-i rot aam..L ea SUM is arra ok" am= Re a=. GRAPHIC SCALE a 3a to 1 inch = e0 feet Ito PLA T OF A POR77ON OF LOT 85 Of 1 -RS -92 11-4-99 P99442 PAGE 2 OF 2 u wueou duan narc nauniry uy i WOW I m wvm im iu vi wm 1 dray made by the insured in any: transfer or conveyance of the estate or interest. This policy shall not continue in force i^ - favor of any purchaser from the insured.of either (i) an est or interest in the land, or (ii) an indebtedness secured by,— purchase y —purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. The insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (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, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if We to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE. (a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or en- cumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any fees, costs or expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and 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, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any 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. (d) 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 shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured forthis purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, 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 the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against Company for cancellation. (b) To Pay or Otherwise Settle With Parties Otherrthao— the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties I,_ or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred bythe insured claimant which were authorized bythe Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii), the Com- pany's obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company underthis policy shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the Amount of Insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT. If the land described in Schedule (A)(C) consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the Amount of Insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made sub- sequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the comple- tion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable nao against any person or property in respect to me claim had this policy not been issued. If requested bythe Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and remedies in the proportion which the Company's payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Company's Rights Against non-insured Obligors. The Company's right of subrogation against non- insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. 14. ARBITRATION. Unless prohibited by applicable law, either the Com- pany or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attomeys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpret- ing any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a 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. 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company at 114 East Fifth Street, Santa Ana, California 92701, or to the office which issued this policy. r lep tp 141 ei tv Sent By: SLO Parks & Recreation; 805 781 7292; Apr -8-02 8:47AM; A *SEL(C FEDERAL CREDIT UNION December 6, 1999 I.ETTER OF CREDIT SESLOC FEDERAL CREDIT UNION P 0 BOX 5360 —11491 TAS OSOS VALLEY ROAD SAN LUIS OBISPO, CA 93403 IRREVOCABLF T.FTTF.R OF CREDIT Page 1/1 SESLOC Federal Credit Union, being a financial institution which is subject to regulation by the State of California or by the FederdJ Government, is issuer of this Irrevocable Letter of Credit, on behalf of its customer, Scott R. Lathrop (account Number 5! 6020) HEREBY ESTABLISHES THIS Letter of Credit on behalf of: THE CITY Or, SAN LUIS OBTSPO In the amounT of.S50,000.00 (Fifty thousand and no/100 Dollars), payable upon written notice from the beneficiary, City of San Luis Obispo, through the Director of Finance that the entiresum or a portion thereof is due. This credit is avatlablc in portions at the discretion of the beneficiary. This credit is nontransferable and nonassignable. This Letter of Credit is issued in accordance with and shall be interpreted in accordance with Division 5 of ".California Commercial code (Section 5101, et seq) and the rights to all patties shall be governed thereby. This credit will expire at midnight on December 31, 2000. However, this Letter of Credit may be extended for an additional 180 days at the written request of Scott R. Lathrop aad the City of San Luis Obispo. Demands for payment received after this date will not be honored and will be considered null and voice. Dated this 6th diiy of December 1999 at San Luis Obispo, California. SESLOC Federal Credit Union P O Box 5360 , San Luis Obispo; CA 93403-5360 Andrew Bechinsky, ice Pres/6744r- - State of California ) County of San Luis Obispo ) On December 21;1 1999, before me, Mikel L. Myall, Notary Public, personally appeared Andrew Bechinsky, personally loao*v tome to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity and that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instr anent. Witness my hand and official seal. MiKEL L MYALL CommiW*n 0 T 176660 Notary Public — CaMomla Son Luls atxspo County Mikel L_ Myall, Notary Public M gym• B — r 15 2 — 11491 L.os Osm Valley Road*PO Box 53604 -San Luis Obispo, CA 93403+805 -543 -18th— rAX 805-543-1687 ItthJ.J" (rev 11.13.97)