HomeMy WebLinkAboutD-1063 Street Dedication Recorded 10/29/1979RECORDING REQUESTED BY
Safeco Title Insurance. Company
AND WHEN RECORDED. MAIL TO
Vase City of San Luis Obispo
ddr
kddnss Attn: Dave Romero
IL
-:ty a P.O. BOX 321
t'a" L San Luis Obispo, Ca. 93406 J
MAIL TAX STATEMENTS TO
"Name
Street
kddrass
City a
see above
Slate I
7
LUUI ""-"� ntl.k
NOV 1919
o RECEIVED o
c Public Services
I)OC. 'No. 49699
OFFICIAL RECORDS
SM LUIS OBISPO CO.. CAL
OCT 29 1979
WILLIAM E. ZIMARIK
CWNTY RECORDER
J TIME ® ® ®® AM
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Corporation Grant Deed
TO 1921 CA ( 12 -74) THIS FORM FURNISHED BY TICOR TITLE INSURERS A P N
The undersigned grantor(s) declare(s):
Documentary transfer tax is E none
( ) computed on full value of property conveyed, or
( ) computed on full value less value of liens and encumbrances remaining at time of sale.
( ) Unincorporated area: ( ) City of. , and
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
LAGUNA LAKE COMPANY
a corporation organized under the laws of the State of California
the CITY OF SAN LUIS OBISPO
the following described real property in the
County of San Luis Obispo , State of California:
hereby GRANTS to
Being a portion of Lot 59 of the Rancho Canada De Los Osos and Laguna;
as per map filed in Book A, Page 8.3 of maps of said County, more pre-
cisely described as follows:-
Beginning at the centerline intersection monument at the intersection
of Prefumo Canyon Road and Los Osos Valley Road; Thence, easterly
along the centerline of said Prefumo Canyon Road South 450 30'-00"
West 3.3.00 Feet; Thence, South 440 13' 30" East 20.00 .Feet to the true
point of beginning: 3
Thence, South 440 13' 30 East 22.00 Feet;
Thence, South 450 30' 00" West 960.00 Feet-
Thence, North 440 12' 42" West 22.00 Feet;
Thence, North 450 .30' 00" East 960.00 Feet to the true point of
beginning.
f
In Witness Whereof, said corporation has caused its corporate name and seal to be affixed hereto and. this instru-
ment to be executed by its president and Secretary
thereunto duly authorized.
Dated: OMPANY'
STATE OF SZIFORNLA, � f
COUNTY 0 ,{/ t°_ SS: By
On before me, the under- }— President
By k
signee<Notary Public In id for ld State, personaljy appeared
ri P J . �f �° �✓� e c� _ ,�}� known Secretary
All
to m_e be th President, and
known to me to be
- Secretary of the Corporation that executed the OFFICIAL SEAL.
within Instrument. known to me to be the persons who executed the
within Instrument on behalf of the Corporation therein named, and LYNNE E. FETTY
acknowledged to me that such Corporation executed the within Instru Notary Public - Califomia
ment pursuant to its by -laws or a resolution of its board of directors PRINCIPAL OFFICE IN
"OP"'P LOS ANGELES COUNTY
Y COMMISSION EXPIRES JUNE 1, 1 -9t3p
WITNESS my hand and official seal. M
Signature
C
(This area for official notarial seal)
Title Order No. Escrow or Loan No. 1126T1 de
MAIL TAX STATEMENTS AS DIRECTED ABOVE „^ 91 %1„rc { /A I
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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 8, 1979 1979, from Laguna Lake Company
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, 19591 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.: September 17 1979
ATTEST:
.tzp''atr.ick., City Clerk
CITY
LUIS OBISPO
M BE DO:'CUM VOL 2197P,�GE 376 .
City of San Luis Obispo
c/o Dave Romero
P.O. Box 321
San. Luis Obispo, CA 93406
. WEECO TITLE
INSURANCE COMPANY
P.O. Box 1145, 101+3 Marsh St
Office San Luis Obispo, CA931t06
545 -8211
DATE
November 8, 1979 ESCROW NO. 112671 —de
POLICY NO. 112671 -de
I
In accordance with instructions in the above numbered escrow, we enclose herewith the Policy of
Title Insurance.
NQV 1
919 ry
ilsh Public Services
E -105 (G.S.) 8
SAFECO TITLE INSURANCE COMPANY
By
Doris M. Eeckhout
Escrow Officer �„/�.L
SAFECO
POLICY OF TITLE INSURANCE
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 c f 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.
SURgN��rrrr
� �~ �%%8 P 0 A l j 3r��
•
s ,�A �g� s
'�,r C N 5. �� s
Secretary �: • :
President
STANDARD COVERAGE POLICY, CLTA -1973 1
CAP -218 (Rev. 8 -79)
1. Definition of Terns
The following terms when used in this policy
mean:
(a) "insured ": the insured named in
Schedule A, and, subject to any rights or defense
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.riot: limited, heirs; dis-
tributees, devisees, survivors, personal repre-
sentatives, next of ,kin, or corporate of fiduciary
successor. 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 trans-
feror), and further includes (ii) any govern-
mental agency . or instrumentality which is an
insurer or guarantor under an insurance contract
or guaranty insuring or guaranteeing said in-
debtedness, or any part thereof, whether named
as an insured herein or not, and (iii) the parties
designated in paragraph 2(a) of these Con-
ditions and Stioulations.
(b) "insured claimant ": an insured claiming
loss or damage hereunder.
(c) 'insured lender ": the owner of an
insured mortgage.
(d) "insured mortgage ": a mortgage shown
in Schedule B, the owner of which is named as an
insured in Schedule A.
(e) "knowledge actual knowledge, not
constructive knowledge or notice which may be
imputed to an insured by reason of any public
records.
(f) "land ": the land described, specifically or
by reference in Schedule A, and improvements
affixed thereto which by law constitute real
property; provided, however, the term "land"
does not include any area excluded by Paragraph
No. 6 of Part I of Schedule B of this Policy.
(g) "mortgage ": mortgage, deed of trust,
trust deed, or other security instrument.
(h) 'public records ": those records which
by law impart constructive notice of matters re-
lating to the land.
2. (a) Continuation of Insurance after
Acquisition of Title by Insured Lender
- If this policy insures the owner of the indebt-
edness secured by the insured mortgage, this
policy shall continue in force as of Date of Policy in
favor of such insured who acquires all or any part
of the estate or interest in the land described in
Schedule A by foreclosure, trustee's sale, con-
veyance 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 instrumentality
which acquires all or any part of the estate or
interest pursuant to a contract of insurance or
CONDITIONS AND STIPULATIONS
;guaranty insuring or guaranteeing the indebt-
edness secured by the insured mortgage. After
any such acquisition the amount of insurance
hereunder, exclusive of costs, attorneys' fees and
expenses which the Company may be obligated
to pay, shall not exceed the lease of:
(i) the amount of insurance stated in
Schedule A;
(ii) the amount of the unpaid principal of the
indebtedness plus interest thereon, as
determined under paragraph 6(a) (iii) hereof,
expenses of foreclosure and amounts advanced
to protect the lien of the insured mortgage and
secured by said insured mortgage at the time of
acquisition of such estate or interest in Lhe land; or
(iii) the amount paid by any governmental
agency or instrumentality, if such agency or
instrumentality is the insured claimant in ac-
quisition 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
apurchase money mortgage given by a purchaser
from such insured, or so long as such insured
shall have liability by reason' of ' covenants of
warranty made by such insured in any transfer or
conveyance of such estate or interest; provided,
however, this policy shall not continue in force in
favor of any purchaser from such insured of either
said estate or interest or the indebtedness
secured by a purchase money mortgage given to
such insured.
3. Defense and Prosecution of Actions
Notice of Claim to be Given by an Insured
Claimant
(a) The Company at its own cost and without
undue delay, shall provide for the defense of an
insured in litigation to the extent that such liti-
gation involves an alleged defect, lien, encum-
brance or other matter insured against by this
policy.
(b) The insured shall notify the Company
promptly in writing (i) in case of any litigation as
set forth in (a) above, (ii) in case knowledge
shall come to an insured hereunder of any claim
of title or interest which is adverse to the title to the
estate or interest or the lien of the insured
mortgage, as insured, and which might cause
loss or damage for which the Company may be
liable by virtue of this policy, or (iii) if title to the
estate or interest or the lien of the insured
mortgage, as insured, is rejected as unmarket-
able. 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 prompt
notice is required; provided, however, that failure
to notify shall in no case prejudice the rights of any
such insured under this policy unless the
Company shall be prejudiced by such failure and
then only to the extent of such prejudice.
(c) The Company shall have the right at its
own cost to institute and without undue delay
prosecute any action or proceeding or to do any
other act which in its opinion may be necessary or
desirable to establish the title to the estate or
interest or the lien of the insured mortgage, as
insured; and the Company may take any ap-
propriate action, whether or not it shall be liable
under the terms of this policy, and shall not
thereby concede liability or waive any provision of
this policy.
(d) Whenever the Company shall have
brought any action or interposed a defense as
required or permitted by the provisions of this
policy, the Company may pursue any such liti-
gation to final determination by a court of com-
petent jurisdiction and expressly reserves the
right, in its sole discretion, to appeal from any
adverse judgment or order.
(e) In all cases where this policy permits or
requires the Company to prosecute or provide for
the defense of any action or proceeding, the
insured hereunder shall secure to the Company
the right to so prosecute or provide defense in
such action or proceeding, and all appeals and
therein, and permit the Company to use, at its own
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 ineffecting settle-
ment, securing evidence, or prosecuting or de-
fending such action or proceeding, and (2)
in any other act which in the opinion of the
Company may be necessary or desirable to
establish the title to the estate or interest or the
lien of the insured mortgage, as insured, including
but not limited to executing corrective or other
documents.
4. Proof of Loss or Damage - Limitation of
Action
In addition to the notices required under
Paragraph 3(b) of these Conditions and
Stipulations, a proof of loss or damage, signed
and swom to by the insured claimant shall be
furnished to the Company within 90 days after the
insured claimant shall ascertain or determine the
fact giving rise to such loss or damage. Such
proof of loss or damage shall describe the defect
in, or lien or encumbrances on the title, or other
matter insured against by this policy which
constitutes the basis of loss or damage, and,
when appropriate, state the basis of calculating
the amount of such loss or damage.
Should such proof of loss or damage fail to
state facts sufficient to enable the Company to
determine its liability hereunder, insured
claimant, at the written request of the Company,
shall furnish such additional information as may
reasonably be necessary to make such deter-
mination.
No right of action shall accrue to insured
claimant until 30 days after such proof of loss or
damage shall have been furnished.
Failure to furnish such proof of loss or damage
shall terminate any liability of the Company under
this policy as to such loss or damage.
(Conditions and Stipulations Continued and Concluded on Last Page of this Policy)
Policy No: 112671
Amount of Insurance 8 100,000.00
1. Name of Insured:
pjc
SCHEDULE A
CITY OF SAN LUIS OBISPO
.Charge 8 325.80 (A- -2-c)
Date of Policy: October 29, 1979
at 8:00 a.m.
.2... The estate or interest in the land described herein and which, is covere&by this policy is:
A fee.
3. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS OBISPO
4. The land referred to in this policy is situated in the State of California, County of San LUJS 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 0
112671
That portion of Lot 59 of the Ranchos Canada de Los Osos and La Laguna, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according
to map filed for record in Book A at page 83 of Maps, described as follows:
Beginning at the centerline intersection monument'at the intersection of Prefumo
Canyon Road and Los Osos Valley Road, the basis of bearings being the centerline
of Prefumo Canyon Road having.a bearing of Borth 450 30' 00" East as recorded on
the Map of Tract Number 403 recorded on Page 1, Book 8 of.Maps in said County;
thence, Easterly along ..said Los Osos Valley Road centerline South 440 13' 30" East
20.00 feet; thence, South 450 30' 00" West 50.00 feet; thence, South 440 13' 30"
East 313.94 Feet to the true point of beginning; thence, South 450 46' 30" West
346.60 feet; thence South_4'40 30' 00" East 269.21 feet; thence, North 450 46' 30"
East 202.31 feet; thence," North 440 13' 30" West 179.15 feet; thence, North 450 46' 30"
East 143.00 feet; thence, North 440 13' 30" West .90.06 feet to the true point,of.._
beginning.
PARCEL 2:
That portion of Lot 59 of the Ranchos,Canada de Los Osos and La Laguna, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according
to map filed for record in Book A at page 83 of Maps, described as follows:
Beginning at the centerline intersection monument at the intersection of Prefumo
Canyon Road and Los Osos Valley Road; thence, Easterly along said Los_ Osos Valley
Road centerline South 440 13' 30" East 20.00 feet; thence, South 450-30' 00" West
50.00 feet; thence, South 440 13' 30" East 404.00 feet; thence, South 450 46' 30"
West 143.00 feet; thence, South 440 13' 30" East 179.15 feet to the true point of
beginning: Thence, South 450 46' 30" West 202.31 feet; thence, South 440 30' 00"
East 228.49 feet; thence, North 450 46' 30" East 108.16 feet; thence', North 44°
13' 30" West 90.00 feet; thence, North 50 52' 55" West 150.00 feet; thence, North
440 13' 30" West 20.85 feet to the true point of beginning.
PARCEL 3:
That portion of Lot 59 of -the Ranchos Canada de "Los Osos and La Laguna,;in the City
of San Luis Obispo, County of San Luis Obispo, State of California, according to map
filed for record in Book A at page 83 of Maps, described as follows:
Beginning at the centerline intersection monument at the intersection of Prefumo
Canyon Road and Los Osos Valley Road; thence, Easterly along the centerline of said
Prefumo Canyon Road South 450 30' 00" West 33.00 feet;-thence, South 440 13' 30" East
20.00 feet to the true point of beginning: Thence,.South 440 13' 30" East 22.00 feet;
thence, South 45° 30' 00" West 960.00 feet; thence, North 440 12' 42" West 22.00 feet;
thence, North 450 30' 00" East 960.00 feet to the true point of beginning.
CONTINUED
112671
That portion of Lot 59 of theRanchos Canada de Los Osos and La Laguna, in the
City of San Luis Obispo, County of San Luis Obispo, State of California, according
to map filed for record in Book A at page 83 of Maps, described as follows:
Beginning at the centerline intersection monument at the intersection of Prefumo
Canyon Road and Los Osos Valley Road; thence, Westerly along the centerline of said
Frefumo Canyon Road, South...450 30' 00" Kest a distance of 33.00 feet; thence,
Easterly South 440 13'.30" East, parallel to the centerline of Los Osos Valley Road,
a distance of 44.00 feet, to the true point of beginning; thence, continuing Easterly
along said line parallel to the centerline Los Osos Valley Road, South 440 13' 30"
East a distance of 1199.26` °feet more or less to a point, said point being the
Northerly corner of a parcel conveyed to the City of San Luis Obispo.by deed recorded
in Book 1548 at page 166 of Official Records in the County of`San Luis Obispo;thence,
along the Northerly line of said parcel, a distance of 17.00 feet to tLe Northwesterly
corner of the aforementioned parcel; thence, Northwesterly along a line parallel to
the centerline of Los Osos Valley Road bearing North 440 13' 30" West a distance of
1179.68 feet; thence, along a curve, concave to the South, having a radius of 20.00
feet tangent to the aforementioned line bearing North 440 13' 30" West through a central
angle of 900 16' 30" to a point; thence, parallel to the centerline of Prefumo Canyon
Road North 45° 30' 00" East a distance of 36.90 feet -to the true point of beginning.
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.
5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
6. Any right, title, interest, estate or easement inland beyond the lines of the area specifically described or referred to
in Schedule 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 acess to a physically
open street or highway is insured by this policy.
7. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation in
ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law,
ordinance or governmental regulation.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known
to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest insured
by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant to the
Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss or
damage to the insured claimant; (d) attaching or created. subsequent to Date of Policy; or (e) resulting in loss or
damage which would not have been sustained if the insured claimant had been a purchaser or encumbrancer for
value without knowledge.
(Schedule B continued on next page of this Policy)
SCHEDULE B -PART I
California Land Title Association
Standard Coverage Policy -1973
CAP -218 -B (Rev. 9 -79) SAFECO
PART II
1. General and special taxes for the fiscal year 1979 -1980, now alien, but not
yet due and payable.
2. An easement as conveyed in deed;
Recorded : December 4, 1978.in Book 2118 at page 106 of Official Records
Conveyed to : Southern Counties Gas Company
Affects : Portion of the herein described property
Purpose stated : Public utilities and incidental purposes
3• Such matters disclosed by a survey showing variations from the record dimensions
of said land;
Recorded May 21, 1979 in Book 35 at page 3 of Record of Surveys.
4. Covenants and restrictions, affecting Parcels 1 and 2, as set forth in Deeds;
Recorded October 29, 1979 under Recorder's Series Numbers 49697
and 49698;
which recite, "The use of this property shall be restricted to outdoor park /recreation
pursuant to the Nejedly -Hart State, Urban and Coastal Park Bond Act of 1976."
5. An easement as reserved in deed;
Recorded October 29, 1979 under Recorder's Series No. 49698.
Executed by Laguna Lake Company
Affects A portion of Parcel 2.
Purpose stated Sewer. -
GSF - 25
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CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
5. Options to Pay or Otherwise Settle Claims
and Options to Purchase Indebtedness
The Company shall have the option to pay or
otherwise settle for or in the name of an insured
claimant any claim insured against, or to ter-
minate 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 author-
ized by the Company. In case loss or damage is
claimed under this policy by the owner of the
indebtedness secured by the insured mortgage,
the Company shall have the further option to
purchase such indebtedness for the amount
owing thereon together with all costs, attorneys'
fees and expenses which the Company is ob-
ligated hereunder to pay. If the Company offers to
purchase said indebtedness as herein pro-
vided, the owner of such indebtedness shall
transfer and assign said indebtedness and the
mortgage and any collateral securing the same to
the Company upon payment therefor as herein
provided. Upon such offer being made by the
company, all liability and obligations of the
Company hereunder to the owner of the in-
debtedness secured by said insured mortgage,
other than the obligation to purchase said
indebtedness pursuant to this paragraph, are
terminated.
6. Determination and Payment of Loss
(a) The liability of the. Company under this
policy shall in no case exceed the least of:
(i) the actual loss of the insured claimant; or
(ii) the amount of insurance stated in
Schedule A, or, if applicable, the amount of in-
surance as defined in paragraph 2(a) hereof; or
(iii) If this policy insures the owner of the in-
debtedness secured by the insured mortgage,
and provided said owner is the insured claimant,
the amount of the unpaid principal of said in-
debtedness, 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 addition to any
loss insured against by this policy, all costs im-
posed upon an insured in litigation carried on by
the Company for such insured, and all costs,
attorneys' fees and expenses in litigation carried
on by such insured with the written authorization
of the Company.
(c) When the amount of loss or damage has
been definitely fixed in accordance with the
conditions of this policy, the loss or damage shall
be payable within 30 days thereafter.
7. Limitation of Liability
No claim shall arise or be maintainable under
this policy (a) if the Company, after having
received notice of an alleged defect, lien or en-
cumbrance insured against hereunder, by liti-
gation or otherwise, removes such defect, lien or
CAP -218 (Rev. 8 -79)
encumbrance or establishes the title, or the lien of
the insured mortgage; * ;!� insured, within a
reasonable time after receipt of such notice; (b)
in the event of litigation until there has been a final
determination by a court of competent jurisdic-
tion, and disposition of all appeals therefrom,
adverse to the title or to the lien of the insured
mortgage, as insured, as provided in paragraph
3 hereof; or (c) for liability voluntarily admitted
or assumed by an insured without written consent
of the Company.
8. Reduction of Insurance; Termination of
Liability
All payments under this policy, except
payments made for costs, attorneys' fees and
expenses, shall reduce the amount of the '.n-
surance pro tanto; provided, however, if the
owner of the indebtedness secured by the insured
mortgage is an insured hereunder, then such
payments, prior to the acquisition of title to said
estate or interest as provided in paragraph 2(a)
of these Conditions and Stipulations, shall not
reduce pro 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 voluntary
satisfaction or release of the insured mortgage
shall terminate all liability of the Company to an
insured owner of the indebtedness secured by the
insured mortgage, except as provided in para-
graph 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 or interest covered
by this policy, shall be reduced by any amount the
Company may pay under any policy in-
suring (a) a mortgage shown or referred to in
Schedule B hereof which is a lien on the estate or
interest covered by this policy, or (b) a mortgage
hereafter executed by an insured which is a
charge or lien on the estate or interest described
or referred to in Schedule A, and the amount so
paid shall be deemed a payment under this policy.
The Company shall have the option to apply to the
payment of any such mortgage any amount that
otherwise would be payable hereunder to the
insured owner of the estate or interest covered by
this policy and the amount so paid shall be
deemed a payment under this policy to said
insured owner.
The provisions of this paragraph 9 shall not
apply to an owner of the indebtedness secured by
the insured mortgage, unless such insured
acquires title to said estate or interest in satis-
faction of said indebtedness or any part thereof.
10. Subrogation Upon Payment or Settle-
ment
Whenever the Company shall have paid or
settled a claim under this policy, all right of
subrogation shall vest in the Company unaffected
by any act of the insured claimant, except that the
owner of the indebtedness secured by the insured
mortgage may release or substitute the personal
liability of any debtor or guarantor, or extend or
otherwise modify the terms of payment, or re-
lease 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 the 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 sub -
rogated 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 the losses insured against hereunder which
shall exceed the amount, if any, lost to the
Company by reason of the impairment of the right
of subrogation.
11. Liability Limited to this Policy
This instrument together with all endorsements
and other instruments, if any, attached hereto by
the Company is .he 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 res-
tricted to the provisions and conditions and sti-
pulations of this policy.
No amendment of or endorsement to this policy
can be made except by writing endorsed hereon
or attached hereto signed by either the President,
a Vice President, the Secretary, an Assistant
Secretary, or validating officer or authorized
signatory of the Company.
No payment shall be made without producing
this policy for endorsement of such payment
unless the policy be lost or destroyed, in which
case proof of such loss or destruction shall be
furnished to the satisfaction of the Company.
12. Notices, Where Sent
All notices required to be given the Company
and any statement in writing required to be
furnished the Company shall be addressed to it at
the office which issued this policy or to:
SAFECO Title Insurance Company
Home Office Legal Department
13640 Roscoe BouI3vard
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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TO 443 C
( Witness)
STATE OF CALIFORNIA 1
COUNTY of San Luis Obispo )}
n� October 3, 1979
SS.
before me, the undersigned, a Notary Public in and for
said State, personally appeared Susan Hoover , personally known to me to be the person
whose name is subscribed to the within Instrument, as a Witness thereto, who being by me duly sworn, deposes
and sa�yjs: She
TliatS""e *elides in San Luis Obispo, CA and that was present and saw
Henry A. Zevely and El i zabeth Zevel y, personally known to her to be the same
persons described in and whose names are subscribed
to the within and annexed Instrument as . the
Part 1 es thereto, execute and deliver the sane, and
they acknowledged to said affiant that they
executed the same; and that said affiant subscribed her
name thereto as a Witness.
WITNESS myyh� hand AAand official s al.
Signature�Y�!
Mari l�y
Name (Typed or Printed)
0
y`�- •. OFFICIAL -SEAL
1° MARILYN PERRY
NOTARY PUBLIC - CALIFORNIA
° PRINCIPAL OFFICE IN
SAN LUIS OBISPO COUNT Y
My Commission Expires Aug. 12, 1983
VOL MJ� kGEa re, l notarial seal)
or any portion thereof, described hereinbelow which is not sub -
ject }o -the easement; more particularly, convenient pedestrian
access shall be provided to the creekside entrance of any commer-
cial establishment on the lot at the Grantee's own expense.
The creek maintenance ea.sement described in (1) above
shall in no manner be affected by the conditions, (a) and (b),
affecting the public Pedestrian access and construction easement.
The property subject;to the easements is described as real
property in the City of San Luis Obispo, consisting of a portion
of Lot 4 in Block 8 in the City of San Luis Obispo, County of
San Luis Obispo, State of California, according to the maD of a
part of San Luis Obispo, owned by A. Murray, recorded May 1, 1876,
Page 145 in Book A of Maps, in the office of the County Recorder
of said County, and more particularly described as follows:
That portion of Lot 4 described in Book 17 of Deeds,
Page 106, lying northwesterly of a line described-as
follows:
Beginning at the southerly corner of the above - mentioned
parcel,, thence northwesterly along the southwesterly'
property line a distance of 64.5 feet to the true point
of beginning; thence northwesterly at right angles to
the said southwesterly line, terminating at a point,o.n
the northeasterly property line.
•
Said line'is further indicated on the map of the area
attached hereto as EXHIBIT "A ".
M
October 3, 1979
Witness:
-Susan Hoover
i
Wo i - 41
VOL 2191PAGE 7Z�