HomeMy WebLinkAboutD-1011 Santa Rosa Widening Recorded 04/05/1978RECORDING REQUESTED BY
AND WNEN RECORDED MAIL TO
FSTATE
OF CALIFORNIA
Nome
DEPARTMENT OF TRANSPORTATION
P' 0, BOX L
Street
SAN LUIS- OBISPO, CA 88408
Address
City a
I
Stets L - - -- --
- -- - —
MAIL TAX STATEMENTS TO
STATE BUSINESS: FREE
Name This document presented
+ for
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Code Sactf_o.n 01,03.
City 4 , T.,. r, . ,
State
ORTATI%N�
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03151< 5F 800000,001 71
DOC. NO. IL5738
OFFICIAL RECORDS
SAN LUIS OBISPO CO•, =,CAL
APR S 1978
COMPARED
WILLIAM E. ZIMARIK
COUNTY RECORDER
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Doc-nnentary Transfer Ta=:
Signod —Party or b ent Fir3 -t•Iane
R/W 05 –SLO –Santa Rosa St.
Parcel-180-6,-1
Grant Deed I AFFIX I.R.S. $------- -- ---- --- ------ ---- ----- - --- - -- ABOVE
TO 465 C.(13-67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
EMILY Me KLUCHIN, a married woman,
hereby GRANT(S) to the 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: as her sole and separate property:
AS MORE PARTICULARLY DESCRIBED IN
EXHIBIT A ATTACHED HERETO AND
COMPRISED OF ONE PAGE.
0
Dated January 10, 1978 /
ily M. Kluchin
STATE OF CALIFORNIA }SS.
COUNTY OF SAN LUIS OBI S PO JJ
On Jan. 10; 1978 before me, the under-
signed, a Notary Public in and for said State, personally appeared
EMILY M KLUCHIN
, known to me
to be the person whose name lS subscribed to the within
instrument and acknowledged that she executed the same.
WITNESS my hand and official seal.
Signature "&A d
i
GERALD W. SHIPS
Name (Typed or Printed)
GERALD W. SHIPS5Y
NOTARY PUBLIC
SAI ' LUIS 0300 COL'..:_'
CALIFORNIA
my Commission Expires March 27, 1981
(This area for official notarial seal)
Title Order No. Escrow or Loan No. < " ` / / Y /Cg--
1011
MAIL TAX STATEMENTS AS DIRECTED ABOVE /4)I/11 9•`lrn "l�
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That portion
Luis Obispo,
of the Count
y
PARCEL 180 -6
"EXHIBIT A"
of Lot 1 in Block 31 of the City of San Luis Obispo, County of San
State of California, according to map filed for record in the office
Recorder of said County, described as follows:
BEGINNING at the southeast corner of Palm and Santa Rosa Streets and running thence
northeasterly along the southerly line of Palm Street a distance of 10.00 feet;
thence southeasterly and parallel with the easterly line of Santa Rosa Street a.
distance of 40.00 feet; thence southwesterly and parallel with the south line
of Palm Street a distance of 10.00 feet to the easterly line of Santa Rosa
Street; thence northwesterly along said easterly line of Santa Rosa Street a_
distance of 40.00 feet to the POINT OF BEGINNING.
PARCEL 180 -6 -1
Temporary easement for construction purposes over and across the following
described parcel of land.
BEGINNING at the Northeasterly corner of parcel 180 -6 as described above,
thence Northeasterly along the Southerly line of Palm. Street a distance of 5.00
feet, thence Southeasterly and.parallel with the Easterly line of Santa Rosa
Street a distance of 40600 f t, thence Southwesterly and parallel with Palm
Street a distance of 5,00 fe; thence Northwesterly parallel to Santa. Rosa
Street to the POINT OF BEGINNING;
Said temporary construction easement shall cease and terminate upon completion
of construction, but in any event, shall cease and terminate not later than
January 1, 1979.
The grantor.further understands that the present intention of the
grantee is to construct and maintain a public highway on the lands
hereby conveyed in fee and the grantor, for himself; his-successors.
and assigns, hereby waives any claims for any and all damages to
grantor's remaining property contiguous to the property- hereby con -
veyed by reason of the location, construction, landscaping or main -
tenance of said highway.
As used above, the term "grantor" shall include the plural as well as
the singular number and the word "himself" and "his" shall include
the feminine gender as the case may-be.
The date of possession by grantee of the herein described property
was March 22, 1977.
LVOL "2060 PAGE 534
91 0
C E R T I F I C A T E O F A C C E P T A N C E
THIS IS TO CERTIFY that the interest in real property conveyed
by the Grant Deed dated January 10
19 78 , from Emily M. Kluchin, a married woman
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 23, 1978
CITY OE SAN LUIS OBISPO
ATTEST:
- W
. itzpAiick, City Clerk
By.
th E. Schwa— Mayor
i VOL 2060 PAGE 535
RESOLUTION NO. 3515 (1978 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN
LUIS OBISPO APPROVING AN AGREEMENT BETWEEN THE
CITY AND EMILY M. KLUCHIN FOR SANTA ROSA STREET
WIDENING RIGHT -OF -WAY.
BE IT RESOLVED by the Council of the City of San Luis Obispo
as follows:
1. That certain agreement, a copy of which is on file in
the office of the City Clerk, between the City and Emily M.
Kluchin for right -of -way acquisition for Santa Rosa Street widening
is hereby approved and the Mayor is authorized to execute same.
2. The City Clerk shall furnish a copy of this Resolution
together with a copy of the agreement approved by it to:
Emily M. Kluchin and the City Engineer.
On Motion of Councilman Settle , seconded by Councilman
Dunin , and on the following roll call vote:
AYES: Councilmen Dunin, Jorgensen, Petterson, Settle and Mayor Schwartz
NOES: None
ABSENT: None
the foregoing Resolution was passed and adopted this
of February , 1978. 1
ATTEST:
Ci erJ. H. Fitzpatric
Approved asz to' form:
WENDT, MITCHELL, , INSHEIMER,
de la MOTTE ' &, 'LI EY
City Attorney
21st day
Approved as to content:
<!E9�
City A inistrati Officer
i.ty ngineer R 3515
n
en rimes rKin nC nn iMM 'AQL2060 PAGE 536
FI�t:
QRCU'LATE:
STATE OF CALIFORNIA= BUSINESS AND TRANSPORTATION AGENCY EDMUND G. BROWN JR., Governor
DEPARTMENT OF TRANSPORTATION
P.O. BOX L, SAN LUIS OBISPO 93406
TELEPHONE (805) 5493111
J•'
City of San Luis Obispo.
P. O. Box 321
San Luis Obispo, CA 93406
Attention Mr. Wayne..Peterson-
City Engineer
Gentlemen_:
April 25, , 19'78
R/W 05 -8LO -City of SLO
Santa Rosa Street
Parcel.180 -6, -1 (Kluchin)
A.R-. #1
E.A. 130502
Returned for your files for the above- referenced parcel
are the following documents:
1. Copy of State's Memorandum of Settlement
2. Original, fully executed. Right of Way-Contract
3. Certified copy of Seller's Closing Statement;
Title Company receipt to State for funds for payment;
and copy -of escrow -bill
4. Policy:of.Title Insurance
5.-- Recorded Grant Deed with Certificate of Acceptance
and Resolution attached
On April.24, we requested. cancellation of taxes -.on this
property.'
This concludes the acquisition of
tince ly,
D. A. Friend
District Right of Way Agent
Acquisition•Branch
Enclosures
Parcel. No. 180 -6, -1.
&K-M-01.1
AFF 1978
RECEIVED
SAN LUIS OBIVO
CITY ENGINEER
/r
n,
F DISTRICT SIROVED
APPRAISAL
ReportNo.....................................
4-14-76
...............
Date ...............................
L' 1 District [ Z1 Parcel No.
05 180 -6, -1
To: E. F. GREGORY
From: R. H. TARV IN
C
PARCEL COUNT 1
STATE OF CALIFORNIA INTERSTATE
TRANSPORTATION AGENCY
DEPARTMENT OF Transportation. X
DIVISION OF H.IGHWAYS ..:...................... .....................:.........
YeS No
MEMORANDUM OF SETTLEMENT ProjectNo.
Expenditure
r3� County (q] Rte. P.M. (sl Authorizotion- Date
SLO City of SLO Santa 130509 130509 FEB 2 `7 1978
FAU M- Y395(1)
District Director of Transportation
[T] Right of Way Agent
SUBJECT: Acquisition of property from _.
ACQUISITION FOR CITY OF SAN LUIS OBISPO
EMILY M. KLUCHIN-
c/o Gerald W. Shipsey, Attorney
1.119 Palm Street
San Luis Obispo, CA 93401
Date of transaction: 1 -10 -78
Address of property 940 Santa Rosa Street
Rio] Occupant ____?_._.Absentee
DOCUMENTS IN FILE
(X )
R%W Contract
X)
Grant Deed
( )
Quitclaim Deed
( )
Easement Deed
CX)
Title Report
(X)
Ma P
[_13-1 Cost Center
430
[ 9_) Acquired For:
1.
Normal R/W
2.
Chapt. 20
3.
Hardship
4.
Mat[ /Disp.
5.
Other Sites
6.
D.W.R. - -
7.
D.G.S. --
8.
0th. Agency
[; -i] No. of Fee Interests _._._...1 _ l i 2'1 No. of Lease Interests ._ __.__.0._.
{ ) Register No.
W Parcel Diary
(X)Appraisal with photos
(X)Appraisal Summary Statement
(X)Memorandum of Adjustment
(X)Appraisal Memorandum Supplement
1. TYPE OF HIGHWAY: [isl ( ) Freeway ( ) Expressway p y ( ) Conventional (X) City Street
Proposed Advertising Date 5/78
Construction Project Santa Rosa Street between Walnut
. and Monterey Streets in San Luis Obispo
2. ACCESS:
(' Acquired in accordance with the appraisal. Frontage Road X
.._._ ............... ..................
( ) None— Entire ,Acquisition Yes Na
(X) Other: Explain Acquired for conventional street. widening purposes
3. DEED CLAUSES:
(X) Description checked against area being acquired.
Deed Form. No. RW— Title Company format
Standard Clauses: DM -1, DM -9
Special Clauses: --
Do the subject exceptions and/or reservations have material effect on the market
value of the property being acquired? X
Yes No
H- R /W -60 (REV. 2.68) ., osP
o •
Santa
Dist. 05 Co. SLO RRosa P.M.
Street
4. DESCRIPTION OF PROPERTY ACQUIRED: Parcel No. 180 -6, -1
LAND:
,a] Area Calculated by Acre Sq. Ft. X Lis Total Take Area
Partial Take Area 4Q_0 s_._f, [i-] Remainder Area 3 240 S. f
J Area in R/W 4Q0_S_..1_. [� Area in Excess None
Other Area (Explain) 18076-1: Temp-Qr-ary— Construction Easement_=_2 -Q0—s. f .
[] Region: Rural _
L21] Best Use: Agri. —
zz Character: Improved
IMPROVEMENTS: Zs All
Urban X
Special
Comm. X Indust. . Resid. Purpose
X _ Unimproved Multiple.
Part X None
Nonsalvable.
(See Attached Sheet No. ... ............................... J
5. CONSTRUCTION CONTRACT OBLIGATIONS: ( ) None .
Clause No
.- Appraisal Settlement
9 Construct retaining wall = $ 519 $ 519
10 Reconnect basement drain = 0 .0*
$ 519 $ 519
*See Explanation
Page 5 - SPECIAL CLAUSES.
This work is considered to be construction
in the manner proposed and therefore no
cost was allocated.
(See Explanation – Beni 3 – for variation from appraisal)
H -R/W 60
1
6. EXCHANGE OF LAND: za ( ) Yes (3 No
( ) See Explanation - Item 8 - and Map
0
Santa
Dist. 05 Co. SLO Rte-Rosa P.M.
Street
Parcel No. 180 -6, -1
7. CONDEMNATION INFORMATION: ( ) None
(x)Cityvs Emily M. KluchiigCC No. .47581 Date Filed 11- 22- 76par. 180 -6, -1
(x� O.P.* Eff... date 3 -22 -77
zs Independent Appraisers Employed? Yes ...- . -. -:- No ..........
Grantor (has) (has not) withdrawn or made application for withdrawal of State's deposit.
8. SETTLEMENT: ze (X) by Contract ( ) Other z7 Settlement amount same as first approved
COMPARISON WITH APPRAISAL: appraisal ( ) Yes V) No
Item Appraisal Settlement
2 Land $ $
180 -6: 400 s.f. @ $5.50 /s.f. _ .2,200.00 2,185.25
180 -6 -1: 200 s.f. x.$5.50 x
3 mos. x .09 = 0.00- 24.75
z9 Improvements
Miscellaneous landscaping and
flatwork =
3o Damages
Cost —to —cure =
3z LESS Credit (if any) for.
, , Tota I s Rounded:
D33 Interest Payment
D34 Cash to Grantor
3s Construction Contract Obligations
325.00
6,345.00
400.00
9,790.00
8,870.00
$ 0
$ - ......... 0.00
$ 519,00 $ 519.00
36 Total Consideration $>.- 419.00 $12,919.00
* 7 Fund* are being withheld in the amount of $ ..2••! 500 .00 p
to cover - oreh and
3
stairway restoration work.
EXPLANATION:
Settlement in the amount of $12,400 is per the appraisal and in
accordance with the attached memorandums from the Appraisals Branch
dated,9 -20 -76 and 12- 12 -77. These memorandums cover a substantial
increase in cost -to -cure damages.
*The sum of .$2,500 is being withheld until such time as the property
owner has cleared the City's right of way, preventing any interrup-
tion in the street widening work.
(See Attached Sheet No. ..._3A, et seq....)
State of California Business and Transportation Agency
Memorandum
To Mr. J. F. I;cll), Date: September 20, 1976
Division of Itibht of Wad
File 05 -SLO
Attention Mr. Otto E. Kihm Santa.Rosa Street
05163 - 130502
From DEPARTMENT OF TRANSPORTATION
District 5
�Subiect: Appraisal Pl]emorandum Supplement to
Appraisal Report No. 1, April 14, 1976.
Providing for Temporary Construction Easements
During the course of negotiations oil the above noted local
assistance project, it was determined that temporary cons -truc-
tion easements were necessary on several parcels.
Construction contract work calls for retaining walls on.the
front portion of several parcels along with step and driveway
construction.
The original appraisal mentions that a temporary right of entry
should be obtained where retaining walls were to be constructed.
No definite area was spelled out.
All terporary casements involve a 5- foot -wide strip adjacent to'
the new right of way line. All will run for three months, which
is the contract work periocl. An appropriate bare land interest
rate is 9 Compensation' based on each ownership area with the
9% rate for 3 months coir:es to less than $100 for each parcel
and as such each is considered in the nominal valuation category.
In the interest of time and the current construction schedule,
it was decided not to revise the entire appraisal, but because
of the minor nature of the additional right of way requirements,
to handle them by memorandum.'
There are no major improvements which will be disturbed. Any
affected.landscaping will be replaced by the, project contractor.
The following are the ownerships, parcols, and dollar values
comprising the additional temporary construction easement areas:
3R
At :.
,
Mr. J. F. Kelly
,J Division of Right of Way
September 20, 1976,
Page 2.
180 -2 -1
Harold M. Wu, et ux
(5' x 67' = 335 s.f.)
$6.00 x 3 months x .09 x 335 s.f. .$45.23
180 -3 -1 '
Kenneth M. Humphreys
(5' x 40' = 200 s.f.)
$5.50 x 3 months x .09 x 200 s.f`. _ $24.75
180 -4 -1
Robert. H. Mott
(5' x 41.67' = 2.08.35 s.f.)
$5.50 x 3 months x .09 x 208.35 s.f. _ $25.78
180 -6 -1
Emily M. Kluchin
(5'.x 40' = 200 s.f.)
$5.50 x 3 months x .0.9 x 200 s.f. _ $24.75
180 -7 -.1
Stanley H. Nelson
(5' x 1001= 500 s.f. Additional Area)
$5.50 x 3 months x..09 x.500-s.f. _ $61.88
18.0 - 11 -1
Stanley H. Nelson
(5 x 50' = 250 s.f.)
$5.00 x 3 months x .09 x 250 s.f. _ $28.1.3
180 -12 -1
Sherman R. Porter
(5' x 50' = 250 s.f.)
$5.00 x 3.months x .09 x 250 s.f. _ $28.13
180 -13 -1
A. 0. Righetti
(5' x 50' = 250 s.f.)
$5.00 x 3 months x .09 x 250 s.f. _ $28.13
F. O. Monson
District Right of Way Agent RECOMt4E MrD OR APPR g yam•,•,
Appraisal Branch ✓ � C:�A
JSP : j j
H. L. Bcan1 zinger putt' strict Director
38
State of California
Memorandum
To D. A. Friend
0
F. 0. Monson
From DEPARTMENT OF TRANSPORTATION
Subject:
Business and Transportation Agency
Date: December 12, 1977
File : R /l9 05 -SLO -Santa Rosa St.
Parcel 180 -6 (Kluchin)
A.R. No. 1 (4- 14 -76)
05163 - 130509
The staff appraisal estimate for reconstructing the front porch
on Parcel 180 -6 in the amount of $5,995 is based on information
that is now two years old.. In view of the two year time lapse,
the current estimate prepared by the City Engineer's office in
the amount-of $7,500 and the Nielsen Construction Company's.
current estimate of $10,334, the $7,793 bid submitted by Tara
Construction is acceptable. The owners should also be allowed
a contingency.to cover fees for permits and the owners' time,
expense and risk for supervising the construction. Historically,
we have also allowed a contingency of up to 10 percent of the
bid for this type of project. It is my understanding that
Nielsen Construction will not.for their own reasons.submit a
written bid for State. right of way cost -to -cure projects.
In regards to the wing wall and loss of 10.feet of side wall
referred to in your memorandum, it appears that these small
items could reasonably be adjusted to $100 for both.
Further study indicates that the owners should be compensated
for the reduction in the size of the porch area. The depreciated
value in place for the porch area loss would be computed at
$15.00 /s.f. or $600.
It is in.order to install sound - proofing drapes in both the front
bedroom and living room. A reinspection of the improvement
indicates that it may be more appropriate to provide floor - length
drapes rather than S -foot drapes. The current cost estimate
from Brecher's Drapery for drapes, rods, and installation is $617.
In summary the adjusted improvement and cost -to -cure damage item
is as follows:
Improvements:
Damages:
Reconstruct porch, bid + 100
Loss of front porch area
Install drapes
Total Improvements & Damages =
$ 400
$8,572.30
600.00
617.00
9,789.30
Rounded 9,790
10,190
3c
9. TITLE EXCEPTIONS:
TAKEN SUBJECT TO:
T. R. Na. Cont. No.
2 (A) a
Santa
Dist. CO. 4 a P.M.
05 SLO Street.
Parcel No. 180-6,--1
Description and explanation
Taxes for 1977 -78 which will be paid and
cleared in the manner required by Section
4986 of the Revenue and Taxation Code, if
unpaid at..close of escrow.
Do the subject exceptions have material effect on the market value of the
property being acquired? X........
Yes No
(See Attached Sheet No. )
NOT TAKEN SUBJECT TO:
T. R. No. Cont. No. (if any) Description and Explanation
1 2(C) 1976 -77 taxes which have been paid.
(See Attached Sheet No. )
camp r-✓r. , -71 :c -•,t,
10. UNRECORDED INTERESTS:
X Investigation indicates none involved.
Handled as follows:
• r
Santa
Dist. 05 Co. SLO Rte. Rosa P.M.
Street
Parcel No. 180 -6, -1
11. SPECIAL CLAUSES IN CONTRACT: None
Clause No. Explanation
8--Describes grantor's responsibility to perform the work of clearing
the City's right of way on or before May 1, 1978. In the event
grantor fails to comply, $2,500 has been withheld-as liquidated
damages.
10 -- Describes City's plans to reconnect storm.or basement drains
currently located within. the existing sidewalk area. City's pro-
posed construction includes facility reconnection at no expense
(See Attached Sheet No- ------------------------- ------ )to grantor. This clause was included at
the insistence of the grantor.
12. POSSESSION AND OCCUPANCY:
Property to be delivered: Present Occupancy:
X Vacant on .... Effective___da-te___of___ Order for __ Owner
Close of Escrow Possession 3 -22 -77 State
15 -day grace period Month -to -month
Lease
Lease quitclaimed ------- :-- ..--- - - - - -- -- ----------- - - - - - -- Vacant
Yes No X city
Rentable Land: X None
Unimproved Grantor to Remove Improvements - --- ----- ---- -- - - - -- ------------ - ----.-
- With Improvements Yes No
Rental or Lease Provisions in Contract -------------- - - - - -- - - - - - -- - - - -- - - - -- Rate $ -
Yes No
Comments:
13. DATE OF VESTING IN GRANTOR:
Acquisition data within 5 years:
Date
From Whom Acquired:
Pertinent information re purchase:
During last 5 years --- --------- -- - - - --- ----------- --X_._
Yes No
Consideration $
Hii!W 6
5
14. ADVERTISING SIGNS:.
Lease
---------- - - - - -- ---------------
Yes No
Cost of removal to be borne by:
Santa
Dist. 05 Co. SLO Rte. Rosa P.M.
Street
_X -_ None Parcel No.180-6, -1
Cancellation clause in lease __ ___ ____ _______ -----------------
Yes No
Not yet determined __________ State __ Lessee
Estimated cost — $
Comments:
15. MISCELLANEOUS INFORMATION:
Complaint to Headquarters ------------ ------- X__._ -_
Yes No
a. The attached right of way contract embodies all of the considerations agreed upon between the undersigned and
the property owner.
b.. The attached right of way contract was obtained without coercion, promises other than those shown in the contract,
or threats of any kind whatsoever by or to either party..
c. I understand that the rights being secured may be used in connection with a Federal -aid highway project.
d. I have no direct or indirect present or contemplated future personal interest in the property being acquired or in
any benefit from the acquisition of subject property.
38 Total number of personal calls: -------- _------- .8 ..... ....... .... F39-1 Months between first approved appraisal
and right of way. certification date ___....___..__20
F4-51 Months between first approved at Months between assignment a2 Months between assignment
appraisal and assignment.to and close: ___.____- .__..i9.......... and suit filing:..... _____5...._....
original agent.._______...._. ... 1 -------------
I hereby recommend the approval of this transaction
-- - - - - -- - --- -------------------
C R. H. TARVIN
Recommended or i ri Approval:
By FED 31978
-- -- ---- ---- -- - -- --- -- - - -- - - - - - -- --- - — -------------- - ----- Senior Right of Way Agent Date
D. A. -FRIEND
H.R /W 60 InEV. 7.67,
6w
US,
c/o G. Shipsey, 1119 Palm
San Luis Obispo,
January 10
EMILY M. KLUCHIN
(Grantor)
California
19 78
Dist. Co y P.M. R W E. A.
0.5 - 5L0 Cit o SL
Yta Rosa = 130509
FAU M- Y394(1)
RIGHT OF WAY CONTRACT- CITY STREET
Document No. 180 -6, -1 in the form of a GRANT DEED
covering the property particularly described therein has been executed and,
delivered to R. H. TARVIN , Right of Way Agent for the State
of California, acting on behalf of the City of San Luis Obispo.
In consideration of which, and the other.considerations hereinafter set
forth, it is mutually agreed as follows:
1. The parties have herein set forth the whole of their agreement. The
performance of this agreement constitutes the entire consideration for said
document and shall relieve the City of San Luis Obispo of all further obli-
gation or claims on this account, or on account of the location, grade or
construction of the proposed public improvement.
2. The City of San Luis Obispo shall:.
(A) Pay the undersigned grantor(s) the sum of $ 12,400.00 . for
the property or interest conveyed by above documents) when
title to said property vests in the City of-San Luis Obispo
free and clear of all liens, encumbrances, assessments, ease-
ments and leases (recorded and /or unrecorded), and taxes,
except:
a. Taxes for the fiscal year in which this escrow closes
which shall be cleared and paid in the manner required by
Section 4986 of the Revenue and Taxation Code, if unpaid
at the close of escrow.
b. Covenants, conditions, restrictions and reservations of
record, or contained in the above referenced document.
c. Easements or rights of way over said land for public or
quasi- public utility or public street purposes, if any.
APPROVED BY DISTRICT b
Dated ` ?a
H. L. Benti(An�of
Deputy, District Director
Right of Way .
N
(B) Pay all escrow and recording fees incurred in this trans-
action, and if title insurance is desired by the City of
San Luis Obispo, the premium charged therefor.
(C) Have the authority to deduct and pay from the amount.shown
in Clause 2(A) above, any amount necessary to satisfy any
delinquent taxes due in any fiscal year except the fiscal
year in which this escrow closes, together with penalties
and interest thereon, and /or delinquent or nondelinquent
assessments or bonds except those which title is to be
taken subject to in accordance with the terms of this
contract.
3. Any or all moneys payable under this contract, up to and inclu-
ding the total amount of unpaid principal and interest on note(s)
secured by mortgage(s) or deed(s) of trust, if any, and all other
amounts due and payable in accordance with the terms and conditions
of said trust deed(s) or mortgage(s) shall, upon demand(s) be made
payable to the mortgagees) or beneficiary(s) entitled thereunder;
said mortgagee (s) or beneficiary (s) to furnish grantor(s) with .good
and sufficient receipt showing said moneys credited against the
indebtedness secured by said mortgage(s) or deed(s) of trust.
4. The grantor(s) shall retain possession of the property conveyed
up to and including the date of recording of the deed conveying
title to the City of San Luis Obispo upon compliance by the grantor(s)
with the conditions of this contract. All rents collected by
grantor(s) applicable to any period thereafter shall be paid to the
City of San Luis Obispo. Either party hereto collecting rents to
which the other party is entitled shall forthwith pay such amount to
the other as is necessary to comply with.the provisions of this clause.
5. Grantor(s) warrant(s) that there are no oral or written leases on
all or any portion of the property exceeding a period of one month,
and the grantor(s) further agree(s) to hold the City of San Luis Obispo
harmless.and reimburse the City of San Luis Obispo for any and all of
its losses and expenses occasioned by reason of any lease of said.
property held by any tenant of grantor(s) for a period exceeding one
month.
6. The undersigned grantor(s) hereby agree(s) and consents) to the
dismissal of any eminent domain action in the Superior Court wherein
the herein described land is included and also waives any and all
claims to any money that may now be on deposit in said action.
- 2 -
7. It is understood and agreed by and between the parties hereto
that included in the amount payable under Clause 2(A) herein is
payment in full to compensate grantor for the expense in performing
the following work:
(A) Provide the necessary materials and labor to replace .
or restore grantor's existing porch and stairway in
a manner equal to or better than that shown on
Exhibit A attached hereto and made a part hereof.
i
(B) Re- landscape front yard area, as required.
(C) Install sound - reducing drapes or similar devices in
front living room and bedroom areas.
It is also agreed by and between the parties hereto that the
above described work of restoring grantor's front porch shall be
done in a manner consistent with the new city back -of- sidewalk
elevation (Santa Rosa Street), which will be provided by the City
upon request.
8. Grantor agrees to perform the work mentioned in Clause 7(A)
within 80 working days of execution of this agreement by or on
behalf of grantee. For purposes of this Paragraph. 8, "working
days" are to include every day except Saturdays, Sundays, City
of San Luis Obispo legal holidays, and days when construction
work cannot be performed because of rain. The sum of $2,500.00
of the total payment provided for under Clause 2(A) herein shall
be withheld by the City of San Luis Obispo until such work has
been completed. If said reconstruction work is not completed at
grantor's expense within said 80 working days, for any reason
whatsoever., the City or its authorized agent is IIiereby granted
the right to enter upon grantor's property for thE� purpose of
severipg and removing any building improvements situated within
the right of way area, and grantor.hereby agrees that the City
may retain actual expenses incurred by the City, to the limit
of $2,500.00, for removing said improvements.
9. At no expense to grantor and at the time of performing the work
of improving Santa Rosa Street between Monterey and Walnut Streets,
the City of San Luis Obispo or its authorized ageftt shall construct
a retaining wall on grantor's remaining property adjacent to the new
right of way line. Said retaining wall will range in height from
approximately 2'8" to 314" and will be constructed in the area
shown shaded in red on Exhibit B attached hereto and made a part
hereof. Said wall shall connect or conform to grantor's new porch
structure as required. Grantee further agrees that it will not
place a retaining wall on City property adjacent to grantor's
porch structure.
Permission is hereby granted the City of San, Luis Obispo or
its authorized agent to enter upon grantor's land., where necessary,
for purposes of constructing the above mentioned retaining wall.
- 3 -
•
Grantor understands and agrees that upon completion of the
work described in this clause, said retaining wall located upon
grantor's land shall be- considered.as the sole property of the
grantor, the maintenance and repair of said property to be that
of the grantor.
All work to be done under this agreement by the City of
San Luis Obispo or its contractor shall conform to all applicable
building, fire and sanitary laws, ordinances, and regulations
relating to such work, and shall be done.in a good and workmanlike
manner.-
10. It is understood and agreed that all utility services affected
by City's proposed construction, which are not compensated for
under the amount provided in Clause 2(A) above, and specifically
designated as having been provided for by the terms of this con -
tract, shall be reconnected by the City or its contractor at -no
expense to the grantor. The City agrees to replace grantor's
drainage pipe under the -Santa Rosa Street sidewalk with a drainage
line 4 inches in diameter, and the City or its agent is hereby
granted the right to enter upon the.remaining property of the
grantor for the purpose of performing said work.
11. It is agreed and confirmed by the parties hereto that not -
withstanding other provisions in this contract, the ,right of
possession and use of the subject property by the City of San Luis
Obispo, including the right to remove and dispose of improvements,
commenced March 22, 1977, and that the amount shown in Clause 2(A)
herein includes, but is not limited to, full payment for such
possession and use, including damages, if any, and interest from
said date.
12. This transaction will be handled through an escrow with
SAFECO Title Insurance. Company, P. O. Box 1145, San Luis Obispo,
CA;.their No. 93715.
- 4 -
0
IN WITNESS WHEREOF, the parties have executed this agreement the
day and year first above written.
oe
mily W. Klludhin
Red
Approval`s
�fl 4AO
N, , _,tj
Dist i R t of Way Agent
Acquisition Branch
CI Y OF SAN LUIS OBISPO
By �
Kenneth E. Schwartz
Mayor
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SI4FEC® *RECEIPT N2
6334
Company No. 19sal
SLO Office DATE 415/ 1978
ESCROW NO. 106719 —de ORDER NO. OTHER
r
RECEIVED OF:
SAID FUNDS TO BE CREDITED TO TIHE ACCOUNT OF Kluch?n
I BANK NAME BRANCH ACCOUNT NO.
CASH $
CHECK $
CHECK $ 9,900.00 Treasurer,
90-1342
TOTAL $ 9,900'00 SAFECO TF,TLE INSURANCE COMPANY
Countersigned P �C -� By
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PROPERTY
SAFECO TITLE
INSURANCE COMPANY
---=--------------- San.Luis -- Obispo,--- Ca................... -- - - - - -- :Office
�t
DATE 1 8
• EMILY M KLUCHIN APr3.1 5, ;? I
balance due you for which our check is enclosed herewith
totals
This is a true and correct copy of the Closing Stai
grantor at the time we forwarded the check in the f
the Closing Statement. M
Doris M. Eec]
SAVE FOR INCOME
TAX INFORMATION gT� ECO
E -62 ( G..S.) 4 -25 -56 Q SAFECO Insurance Company of America. rcgistered trademark owner.
ESCROW 106719 -de
IR/WO5 SLO Sta. Rosa St-
La ce jk�1 180 -6,1
�ISRUMEN 5 11 RECEIPTS
9,°00.00
nt submitted to t e named
nt of the balance shown on
,11 Escrow
SCO
Please Detach and Return This Portion With Your Remittance
F—Department of Transportation
P 0 .Sox L
San Luis Obispo, CA 93406
LAT`tN : Mr, Bowden.
Our Order No. 106719 -de
J
X05) 543.8211
DATE April 17, 1978
P. /W 05 -SLO -Santa Rosa Street
Parcel 180 -6, -1
Amount Due $ 131 -!r5
Our Order No. 106719 -de Your Order No. Kluchin --Date 4-17-:1B _Title Officer. FPckhmI
PROPERTY TYPE Imo. PTO'a LIAB. PREV. LIAR. CODE AMOUNT
CIVOMRS LENDERS JP _.
STANDARD POLICY ® ❑ ❑ SP 9,900.00 1.1 _ 104.75
ALTA POLICY ❑ ❑ f
I ndorsement
Binder
General Guarantee - Type:
Trustee Sale Guarantee
Lot Book Guarantee_
Litigation Guarantee
Escrow Fee
Extra Work Charge
h
GG
TG
GG
Report fee CREDIT for fee payment raa.de 6 -24 -76
Drawing Instruments.
Sub - Escrow Fee
Cancellation Fee
Safeco Reconveyance Fee
Sales Tax
Tax Service
ADVANCES
Recording Deed
Recording Trust Deed
Recording Reconveyance
Transfer 'Fax
Tax Service
Taxes Paid --
Tax Sale
Bonds _
Reconveyance Fee
4311
4425
4222
4415
4411
4424
4412
2312
5927
1215
j 1215
1215
1215
1215
1215
1215
1215
1215
77.00
[50.001
i1 /c
TOTAL 131.75
CREDIT
PLEASE PAY THIS AMOUNT
SAFECO TITLE INSURANCE COMPANY 1043 MARSH STREET
SAN LUIS OBISPO, CA. 93406
OS-1 -B REV. 1-77
SAFECO
dly- A s- .,....
CLTA -1973 STANDARD COVERAGE
POLICY OF TITLE INSURANCE
issued by
SAFECO TITLE .INSURANCE COMPANY
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, SAFECO
TITLE INSURANCE 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.
�S RA,lll
1141W o��4
V,/� %A.
Secretary Y, ,,����� President
P -218 (G.S.) Rev. 8 -73
as
CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used in this
policy mean:
(a) "insured ": the insured named in
Schedule A, and, subject to any rights or
defenses the Company may have had
against the named insured, those who
succeed to the interest of such insured by
operation of law as distinguished from
purchase including, but not limited to,
heirs, distributees, devisees, survivors, per-
sonal representatives, next of king or cor-
porate 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
guaranty insuring or guaranteeing said
indebtedness, or any part thereof, whether
named as an insured herein or not, and
(iii) the parties designated 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, spe-
cifically or by reference in Schedule A,
and improvements affixed thereto which
by law constitute real property; provided,
however, the term "land" does not include
any area excluded by . Paragraph No. 6
of Part I of Schedule. B of this Policy.
(g) "mortgage ": mortgage, deed of
trust, trust deed, or other security instru-
ment.
(h) "public records ": those records
which by law impart constructive notice
of matters relating to the land.
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 mort-
gage, this policy shall continue in force
as of Date of Policy in favor of such in-
sured who acquires all or any part of the
estate or interest in the land described
in Schedule A by foreclosure, trustee's
sale, conveyance in lieu of foreclosure, or
other legal manner which discharges the
lien of the insured mortgage, and if such
insured is a corporation, its transferee of
the estate or interest so acquired, provided
the transferee is the parent or wholly
owned subsidiary of such insured; and in
favor of any governmental agency or in-
strumentality which acquires all or any
part of the estate or interest pursuant to
a contract of insurance or guaranty in-
suring or guaranteeing the indebtedness
secured by the insured mortgage. After
any such acquisition the amount of insur-
ance hereunder, exclusive of costs, attor-
neys' fees and expenses which the Company
may be obligated to pay, shall not ex-
ceed the least of:
M the amount of insurance stated in
Schedule A;
(ii) the amount of the unpaid prin-
cipal 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 ac-
quisition of such estate or interest in the
land; or
(iii) the amount paid by any govern-
mental agency or instrumentality, if suc'.i
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 in-
sured shall have liability by reason of
covenants of warranty made by such in-
sured 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 in-
debtedness secured by a purchase money
mortgage given to such insured.
3. Defense and Prosecution of Ac-
tions- 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 Com-
pany promptly in writing 0) 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 in-
terest 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 fail-
ure to notify shall in no case prejudice
the rights of any such insured under this
policy unless the. Company shall be pre-
judiced by such failure and then only
to the extent of such prejudice.
(c) The Company shall have the right
at its own cost to institute and without
undue delay prosecute any action or pro-
ceeding or to do any other act which in
its opinion may be necessary or desir-
able to establish the title to the estate
or interest or the lien of the insured mort-
gage, as insured; and the Company may
take any appropriate action, whether or
not it shall be liable under the terms of
this policy, and shall not thereby con-
cede liability or waive any provision of
this policy.
(d) Whenever the Company shall have
brought any action or interposed a defense
as required or permitted by the provisions
of this policy, the Company may pursue
any such litigation to final determination
by a court of competent jurisdiction and
expressly reserves the right, in its sole
discretion, to appeal from any adverse
judgment or order.
(e) In all cases where this policy per-
mits or requires the Company to prose-
cute or provide for the defense of any
action or proceeding, the insured here-
under 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, secur-
ing evidence, obtaining witnesses, or prose-
cuting or defending such action or pro-
ceeding, 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, in-
cluding but not limited to executing cor-
rective or other documents.
4. Proof of Loss or Damage - Limi-
tation of Action
In addition to the notices required un-
der Paragraph 3(b) of these Conditions
and Stipulations, a proof of loss or dam-
age, signed and sworn to by the insured
claimant shall be furnished to the Com-
pany ,within 90 days after the insu:-ed
claimant shall ascertain or determine the
facts giving rise to such loss or damage.
Such proof of loss or damage shall de-
scribe the defect in, or lien or encum-
brance on the title, or other matter in-
sured against by this policy which con-
stitutes the basis of loss or damage, and,
when appropriate, state the basis of cal-
culating the amount of such loss or dam-
age.
Should such proof of loss or damage
fail to state facts sufficient to enable the
Company to determine its liability here-
under, insured claimant, at the written
request of Company, shall furnish such
additional information as may reasonably
he necessary to make such determination.
No right of action shall accrue to in-
sured 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 Pur-
chase Indebtedness
The Company shall have the option to
((f ditions and Stipulations Continued and Concluded on Last Page of this Policy)
9 0
Policy No: 106719
Amount of Insurance S 99900.00
.1. Name of Insured:
EJB
SCHEDULE A
CITY OF.SAN LUIS OBISPO*
a mimicipal corporation..
Charge 8 101+.75 (A -2 -A)
Date of Policy: April 5. 1978
at 8:00 a.m.
2.-: The estate or interest in the land described herein and which is covered by this policy is:
A fee as to Parcel 180 -6;
an easement as to Parcel 180 -6 -1
3. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS OBISPO,
a m>micipal corporation
4. The land referred to in this policy is situated in the State of California, County of ' San Luis Obispo
and described as follows:
SEE DESCRIPTION ATTACHED
P -218 -A (G.S.) Rev. 11 -75
California Land Title Association
Standard Coverage Policy -1973
CRC Q
That portion of Lot 1 in Block 31 of the City of San Luis Obispo, County of San Luis
Obispo, State of California, according to map filed for record in the office of the
County Recorder of said County, described as follows;
PARCEL 180 -6
Beginning at the Southeast corner of Palm and Santa Rosa.Streets and running thence
Northeasterly along the Southerly line of Palm Street a distance of 10.00 feet; thence
Southeasterly and parallel with the Easterly line,.of Santa Rosa Street a distance of
40.00 feet; thence Southwesterly and parallel with the South line of Palm Street a
distance of 10.00 feet to the Easterly line of Santa Rosa Street; thence Northwesterly
along said Easterly line of Santa Rosa Street a distance of 40.00 feet to the point of
beginning.
PARCEL 180 -6 -1
Temporary easement for construction purposes over and across the following described
parcel of land.
Beginning at the Northeasterly corner of parcel 180 -6 as described above, thence
Northeasterly along the Southerly line of Palm Street a distance of 5.00 feet, thence
Southeasterly and parallel with the Easterly line of Santa Rosa Street a distance
of 40.00 feet, thence Southwesterly and parallel with Palm Street . a distance of 5.00
feet, thence Northwesterly parallel to Santa Rosa Street to the Point of beginning.
Said temporary construction easement shall cease and terminate upon completion of
construction, but in any event, shall cease and terminate.not later than January 1,
1979.
P -218 -B (G.S.) Rev. 8 -73
California Land Title Association
Standard Coverage Policy -1973
SCHEDULE B
This policy does not insure against loss or dama;e, nor against costs, attorneys' fees or expenses, any
or all of which arise by reason of the following:-
PART I
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies
taxes or assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings,
whether or not shown by the records of such agency or by the public records.
2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained
by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records..
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct
survey would disclose, and which are not shown by the public records.
S. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
6. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred
to in Schedule A, or in abutting streets, roads, avenues, alleys, lanes, ways or waterways; but nothing in this
paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a
physically open street of 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 encum-
brancer for value without knowledge.
(Schedule B continued on next page of this Policy)
CclifoBB (G. S.) Rev. soc
Calilornia Land Title Association
Standard Coverage Policy -1973
PART II
1. General and specialttaxes for the fiscal year 1978 -79, now a lien, but not yet
due and payable.
2. General and special taxes for the fiscal year 1977 -78;
First installment :
$283.74 paid:
Second installment :
$283.74
Parcel number :
2- 326 -01
Code area
3-00
ExAwlption .
$19750.00
Bill number :
120624
Affects . The herein described and other property
0
"This plat is for your aid in locating yo *d with reference to streets end other Parcels. While that Is believed
to be correct, the Company assumes no liability for any loss occurring by reason of reliance thereon."
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CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
pay or otherwise settle for or in the name
of an insured claimant any claim insured
against, or to terminate all liability and
obligations of the Company hereunder by
paying or tendering payment of the
amount of insurance under this policy
together with any costs, attorneys' fees
and expenses incurred up to the time of
such payment or tender of payment by the
insured claimant and authorized by the
Company. In case loss or damage is
claimed under this policy by the owner
of the indebtedness secured by the insured
mortgage, the Company shall have the
further option to purchase such indebted-
ness for the amount owing thereon to-
gether 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 se-
curing 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 Com-
pany hereunder to the owner of the in-
debtedness secured by said insured mort-
gage, other than the obligation to pur-
chase 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:
0) the actual loss of the insured
claimant; or
00 the amount of insurance stated
in Schedule A, or, if applicable, the
amount of insurance as defined in parr -
graph 2(a) hereof; or
(iii) if this policy insures the owner
of the indebtedness secured by the insured
mortgage, and provided said owner is the
insured claimant, the amount of the un-
paid principal of said indebtedness, plus
interest thereon, provided such amount
shall not include any additional principal
indebtedness created subsequent to Date
of Policy, except as to amounts advanced
to protect the lien of the insured mortgage
and secured thereby.
(b) The Company will pay, in ad-
dition 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 author-
ization of the Company.
(c) When the amount of loss or dam-
age has been definitely fixed in accor-
dance with the conditions of this policy,
the loss or damage shall be payable with-
in 30 days thereafter.
7. Limitation of Liability
No claim shall arise or be maintainable
under this policy (a) if the Company,
after having received notice of an alleged
defect, lien or encumbrance insured
against hereunder, by litigation or other-
wise, removes such defect, lien or encum-
brance or establishes the title, or the lien
of the insured mortgage, as insured, with-
in a reasonable time after receipt of such
P -7.18 (G.S.) Rev. B -73
notice; (b) in the event of litigation until
there has been a final determination by
a court of competent jurisdiction, and
disposition of all appeals therefrom, ad-
verse to the title or to the lien of the in-
sured mortgage, as insured, as provided
in paragraph 3 hereof; or (c) for liability
voluntarily admitted or assumed by an
insured without prior written consent of
the Company.
8. Reduction of Insurance; Termin-
ation of Liability
All payments under this policy, except
payment made for costs, attorneys' fees
and expenses, shall reduce the amount of
the insurance pro tanto; provided, how-
ever, if the owner of the indebtedness
secured by the insured mortgage is an in-
sured 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 canto 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 vol-
untary satisfaction or release of the in-
sured mortgage shall terminate all liabil-
ity of the Company to an insured owner
of the indebtedness secured by the insured
mortgage, except as provided in paragraph
2(a) hereof.
9. Liability Noncumulative
It is expressly understood that the
amount of insurance under this policy, as
to the insured owner of the estate or
interest covered by this policy, shall be
reduced by any amount the 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 mort-
gage 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 indebt-
edness or any part thereof.
10. Subrogation Upon Payment or
Settlement
Whenever the Company shall have paid
or settled a claim under this policy, all
right of subrogation shall vest in the Com-
pany unaffected by any act of the insured
claimant, except that the owner of the in-
debtedness secured by the insured mort-
gage may release or substitute the per-
sonal liability of any debtor or guarantor,
or extend or otherwise modify the terms
of payment, or release a portion of the
estate or interest from the lien of the
insured mortgage, or release any collateral
security for the indebtedness, provided
such act occurs prior to receipt by such
insured of notice of any claim of title or
interest adverse to the title to the estate
or interest or the priority of the lien of
the insured mortgage and does not result
in any loss of priority of the lien of the
insured mortgage. The Company shall be
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; compromise 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
hereunder which shall exceed_ the amount,
if any, lost to the Company by reason of
the impairment of the right of subrogation.
11. Liability Limited to this Policy
This instrument together with all en-
dorsements and other instruments, if any,
attached hereto by the Company is the
entire policy and contract between the
insured and the Company.
Any claim of loss or damage, whether
or not based on 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 re-
stricted to the provisions and conditions
and stipulations of this policy.
No amendment of or endorsement to this
policy can be made except by writing en-
dorsed 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 pro-
ducing this policy for endorsement of such
payment unless the policy be lost or de-
stroyed, in which case proof of such loss
or destruction shall be furnished to the
satisfaction of the Company.
12. Notices, Where Sent
All notices required to be given the
Company and any 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, 13640 Roscoe Boulevard, Panorama
City, California 91409.
13. THE CHARGE SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE.
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