HomeMy WebLinkAboutD-1019 Santa Rosa Widening Recorded 03/28/1978ACKNOWLEDGMENT OF SUBSCRIBING WITNESS
E5T. 6999. 61136 -500 13 -63 3600 od'P
FORM HR/W-5 (REV. 1.65)
STATE OF CALIFORNIA,_ -- _—_- __-_--COUNTY OF— S— _ L— u — i S — Obispo
: ss:
30 January_ — seventy-eight
On this__— _— _ —____ —day of. - -_ ____, in the year one thousand nine hundred and— ______.
before me, the undersigned, a Notary Public in and for said County and State, residing therein, duly commissioned and sworn, personally appeared
R. H. Tarvin
known to me to be the person whose name is subscribed to the within instrument as a subscribing witness thereto, who, being by me duly sworn deposed
and said: that he resides in the San Luis. Obis O
— - - -__ -- County of----_---- _---- ------- ------ �------ - - - - -, State of California;
Stanley H. Nelson, William A. Nels n- ___azui�lQSa_rIslson_ -_
that he was present and saw --
— — - - - -- — -- -- - -- -- -- --- ---- --- -- --- --- — -- - - - -- -- — - - -- — —
personally known to him to be the person -9 described in and whose name__S_______________— are — ------- subscribed to Ake within instrument,
execute the same; that he, afant, subscribed his name as a witness thereto.
WrrNEss my hand and official seal_
My commission
EDNA L. SCHOPP
NOTARY PUBLIC
EDNA L
-� CALIFORNIA 1 Name (Typed or Prii
My Commission Expires January 13, 1980 ary Public in and for said
' f J_,
PACE 120
:- EGORDING REQUESTED BY
AND WHEN RECORDED MAIL TO
Name
Street
STATE OF CALIFORNIA
Wdrert
DEPARTMENT OF TRANSPORTATION
P. O. BOX L -
City b
State I
- -SAN LUIS 0 SPO. CA 99406
MAIL TAX STATEMENTS TO
F STATE BUSINESS: n. LE
Name
This uocumen l%-, for
Street
kddress recording purs—,.kn.,? t. ' o "c.vt .
City a Code Section. 6105,
Stare r•n ;; V11
By
TO 405 C (8 -67)
2
o 1149g28F 800000.00 ST,cR
00C. NO. -14145
��- OFFICIAL RECORDS
SAN LUIS OBISPO CO.,.,CAL
MAR 2 8 1978
COMPARED
WILLIAM E. ZIMARIK
COUNTY RECORDER
TIME !! ® 1
SPACE ABOVE THIS LINE FOR RECO D R'S USE All
05 -SLO -Santa Rosa Street
Parcel 180 -7, -1
IGrant Deed I AFFIX I.R.S. S------- ----------- ---------- ---- - - - - -- ABOVE
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Flora Nelson, William A. Nelson and Stanley H. Nelson,
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 MORE PARTICULARLY DESCRIBED IN
EXHIBIT A ATTACHED HERETO AND
COMPRISED OF ONE PAGE.
Dated
STATE OF CALIFORNIA }SS.
COUNTY OF )J
On before me, the under -
signed, a Notary Public in and for said State, personally appeared
known to me
to be the person whose name subscribed to the within
instrument and acknowledged that executed the same.
WITNESS my hand and official seal.
Signature
Name (Typed or Printed)
...
v
(This area for official notarial seal)
ITitle Order No. Escrow or Loan No. I
MAIL TAX- STATEMENTS AS DIRECTED ABOVE
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"EXHIBIT A"
PARCEL 180 -7
That portion of Lot 4 in Block 32 of the Town of San Luis Obispo, in the County of
San Luis Obispo, according to the official map thereof, described as follows:
BEGINNING at the point of intersection of the northerly line of Palm Street with
the easterly line of Santa Rosa Street in said City; thence easterly along the
northerly line of Palm Street a distance of 10.00 feet to a point; thence at right
angles northerly and parallel with the easterly line of Santa Rosa Street a distance
of 150.00 feet to a point; thence westerly, parallel with the northerly line of
Palm Street a distance of 10.00 feet to a point on the easterly line of Santa Rosa
Street; thence southerly along the easterly line of Santa Rosa Street to the point
of beginning.
PARCEL 180 -7 -1
A temporary easement for construction purposes over and across the following
described parcel of land:
Beginning at the southeasterly corner of Parcel 180 -7 as described above, thence
northwesterly parallel to Santa Rosa Street, a distance of 150.00 feet, thence
northeasterly parallel to Palm Street, a distance of 6040 feet, thence southeasterly
parallel to Santa Rosa Street, a distance of 50.00 feet, thence southwesterly para-
llel to Palm Street a distance of 55.00 feet, thence southeasterly parallel to Santa
Rosa Street to the northerly line of Palm Street, thence southwesterly along the
northerly line of Palm 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 date of possession by grantee of the herein described property
was March 28, 1977.
The grantor further understands that the present intention of the
grantee is to construct and maintain a city street 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
maintenance.of.said city street.
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.
�V0L2058 PAG,c•121
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 18 ,
1978 , from Flora Nelson, William A. Nelson and Stanley H.
Nelson
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
CIZ
By
ATTEST:
Fitzpatrick, City Clerk
OF SAN LUIS OBISPO
LVOL2050 PACE 122
RESOLUTION NO. 3516 (1968 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF
SAN LUIS OBISPO APPROVING AN AGREEMENT BETWEEN
THE CITY AND STANLEY H. NELSON, WILLIAM A. NELSON,
AND FLORA NELSON 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 Stanley H. Nelson,
William A. Nelson and Flora Nelson 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: Stanley
H. Nelson, William A. Nelson & Flora Nelson for right -of -way ac-
quisition for Santa Rosa Street widening.
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 , 19 78 . 1
ATTEST:
9 G.
CDt er J. H. Fitzpatric
Approved as.. to form:
WENDT , MITCHEI
de la MOTTE &-
City Attorney
21st day
Approved as to content:
S INSHE IMER,
LEY City minis rat e 0 icer
by Allen Grimes DOCUMENT
j�
City Engineer
/80 - 7- i o 5- 3 4 0 _ .P.¢ 4/7'.9- Koss sr
SAFECO
CLT.A -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.
Secretary President
�t# �14411FOWN
P -218 (G.S.) Rev. 8 -73
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 kin, 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:
(i) 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 (i) in case of
any litigation as set forth in (a) above,
(ii) in case knowledge shall come to an
insured hereunder of any claim of title
or interest which is adverse to the title
to the estate or interest or the lien of the
insured mortgage, as insured, and which
might cause loss or damage for which the
Company may be liable by virtue of this
policy, or ( iii) if title to the estate or 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 lam-
a ge.
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
be necessary to make such determinaJon.
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
(Conditions and Stipulations Continued and Concluded on Last Page of this Policy)
10, 0
. � ejb
Policy No: 106718
Amount of Insurance $ 329586.50
.1. Name of Insured:
SCHEDULE A
CITY OF SAN LUIS OBISPO,
a municipal corporation
Charge $199.50 (A -2 -A)
Date of Policy: March 28, 1978
at 8:01 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 -7;
an easement as to Parcel 180 -7 -1
3. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS OBISPO,
a municipal corporation
4. The land referred to in this policy is situated in the 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
PARCEL 180-7
That portion of Lot 4 in Block 32 of the Town of San Luis Obispo, in the County of San
Luis Obispo, State of California, according to the official map thereof., described as
follows:
Beginning at the point of intersection of the Northerly line of Palm Street with the
Easterly line of Santa Rosa Street in said City; thence Easterly along the Northerly
line of Palm Street a distance of 10.00 feet to a point; thence at right angles Northerly
and parallel with the Easterly line of Santa Rosa Street a distance of 150.00 feet to
a point; thence Westerly, parallel with the Northerly line of Palm Street a distance of
10.00 feet to a point on the Easterly line of Santa Rosa Street; thence Southerly along
the Easterly line of Santa Rosa Street to the point of beginning.
PARCEL 180 -7 -1
A temporary easement for construction purposes over and across the following described
parcel of land:
Beginning at the Southeasterly corner of Parcel 180-7 as described above, thence North-
westerly parallel to Santa Rosa Street, a distance of 150-00 feet, thence Northeasterly
Parallel to Palm Street, a distance of 60.00 feet, thence Southeasterly parallel to
Santa Rosa Street, a distance of 50.00 feet, thence Southwesterly parallel to Palm
Street a distance of 55.00 feet, thence Southeasterly parallel to Santa Rosa Street to
the Northerly.line of Palm Street, thence Southwesterly along the Northerly line of
Palm Street to the point of beginning.
Said temporary construction easement shall cease and terminate upon completion of
construction, but in anyevent,,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 damage, nor against costs, attorneys' fees or expenses, any
or all of which arise by reason of the following:
PART I
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies
taxes or assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings;
whether or not shown by the records of such agency or by the public records.
2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained
by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, which are not shown by the public records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct
survey would disclose, and which are not shown by the public records.
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 or highway is insured by this policy.
7. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation
in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law,
ordinance or governmental regulation.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known
to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest
insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant
to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss
or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting
in loss or damage which would not have been sustained if the insured claimant had been a purchaser or encum-
brancer for value without knowledge.
(Schedule B continued on next page of this Policy)
P- 218 -13B (G.S.) Rev. 8 -73
California Land Title Association
Standard Coverage Policy -1973
PART II
1. General and special taxes 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 : $609.70 paid
Second installment $609.70
Parcel number : 2- 325-12
Code area : 3-00
Bill number : 107987
Affects : The herein described and other property
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"This plat I's for your aid In locating yo r land with reference to streets and other parcels. While this plat 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
GO the amount of insurance stated
in Schedule A, or, if applicable, the
amount of insurance as defined in pare
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 -218 (G.S.) Rev. 8 -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.
a. 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 tanto the amount of
the insurance afforded hereunder as to any
such insured, except to the extent that
such payments, reduce the amount of the
indebtedness secured by such mortgage.
Payment in full by any person or 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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STATE OF CAJ4FORNIV -
COUNT 0 d% } SS.
I before me,
the un rsigne a Notary Public in and for said County and State,
personally appeared
known to me
to be the person. whose name subscribed to the
lkthin ii.Atrument and acknowledged tha t executed the
B
SaFECCI
FOR NOTARY SEAL OR STAMP
NANCY J. WYLDER
NOTARY PUBLIC
SAN LUIS OBISPO COUNTY
CALIFORNIA
My Commisson Expires March 10, 1980
STATE OF CAL ORNIA
COUNTY OF . 7 SS,.
• O ^ ! before me,
r the undersigned, a Notar ubli i and for ai ounty and State,
Personally appeared
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SAFECO
FOR NOTARY SEAL OR STAMP
NANCY J. WYLDER
NOTARY PUBLIC
ro SAN LUIS OBISPO COtINTY
CALIFORNIA i
My Commisson Expires Much 16, 198o l
EVOL208 f. PAGE 552