HomeMy WebLinkAboutD-1139 Higuera Street Widening Recorded 05/24/1982r
NP- orei ng Requested by
7 T,�oAMERICAN TITLE. INSURANrc-
;;Escrow No. SLO 821270 SF 0
Loan No..
WHEN RECORDED MAIL TO:
City of San Luis Obispo
P.O. Box 321
San Luis ObisDo, Ca. 93406
ATTN: Jerry Kenny
COMPANY
4 .0 GiR
Doc. pro. 21178
OFFICIAL RECORDS
SAN LUIS OBISPO CO., CAL
MAY 2 41982
WILLIAM E. ZIMARIK
COUNTY RECORDER
TIME 1110 0 AM
SPACE ABOVE THIS LINE FOR RECORDER'S.USE
MAIL TAX STATEMENTS TO:
DOCUMENTARY TRANSFER TAX & .......: ... :.:............`...............
....... Computed on the consideration or value of property conveyed; OR
ADDRESS AS ABOVE ... .... Computed on the consideration or value less liens or encumbrances
re ing at time of sale.
SigWture of Declarant / ent defermining tax —Firm Name
APN #3- 711 -07 FIRST AMERICAN TITLE INSURANCE COMPANY
SAN LUIS OBISPO
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
PETER KAI SUM LEE, a Widower, as to an undivided one -half interest, and PAUL R. LEE and
SUE E. LEE, husband and wife as joint tenants, as to an undivided one -half interest.
hereby GRANT(S) to
CITY OF SAN LUIS OBISPO, a Chartered Municipal Corporation
the real property in the City of San Luis Obispo
County of San Luis Obispo
, State of California, described as
The easterly 20 feet of Lots 8 and 9 of Block 147 of the Harford Addition to the
City of San Luis Obispo as shown in Map Book A at page 123 in the Office of the
San Luis Obispo County Recorder, as measured at right angles to the easterly
line of said Lots 8 and 9.
--Except the southerly 50 feet of said Lot 9 and except the northerly 128 feet of said
Lot 8.
December 9, 1981
STATE OF CALIFORNIA
COUNTY OF ss.
SAN LUIS OBISPO
On December 9, 1981
before me, the undersigned, a Notary Public in and for said
State, personally appeared PETER KAI SUM LEE,
PAUL R. LEE, and SUE E. LEE
known to me to be the persons whose names are
subscribed to the within instrument and acknowledged that
they executed the same.
WITNESS my hand an d fficia al.
Signature
A. RC CA, .
ETER SUM LEE.
PAUL LEE
SUE E. LEE
Official Seal
JO FN A. RONOA, JR.
rpm NOTAcY PUBLIC - CALIFORN
�•
SAN LUIS 0315 °0 tOUPi•TY
a My eomrnissio !gnires
OCTOEER 14, 1983;
(This area for official notarial seal)`• 1
MAIL TAX STATEMENTS AS DIRECTED ABOVE
1002 (10/69)
VOL 2408 FACE84.
0
C
First American Title Insurance Company
114 EAST FIFTH STREET, (P. 0. BOX 267) SANTA ANA, CALIFORNIA 92702 • (714) 558 -3211
A subsidiary of The First American Financial Corporation
t
y •
C E R T I F I C A T E O F A C C E P T A N C.E
.. JC iC :•C �: :: :E 7C iC �C :: �C :ti
THIS IS TO CERTIFY that the interest in real property conveyed by
the Grant Deed
dated December 9 198, from Paul R. Lee
and Sue E. Lee,, husband, and wife as joint tenants Peter Kai Sum
Lee, a widower
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 of his agent.
Date: May 4, 1982
ATTEST:
CITY OF SAN LUIS OBISPO
425,4, - 11f- e� . -
Pa ela Voges, City Clerk
EN OF MUMEN"I VOL 2408 PAGE 844
1�S C AMER /C
9
4 '4
First American Title Insur;4ceoc;many
899 PACIFIC STREET, (P.O. BOX 1147) SAN LUIS OBISPO, CALIFORNIA 93401 • (AREA 805) 543 -8900
June 4, 1982 .
City of San Luis Obispo J191 U 7
P. 0. Box 321
San Luis Obispo, CA 93406
Attn: JERRY KENNY
Insurance Policy No. SLO 821270 ND
NOTE: THIS CONTAINS IMPORTANT INFORMATION ABOUT
THE REAL ESTATE TRANSACTION YOU HAVE JUST
COMPLETED.' READ IT AND RETAIN IT WITH YOUR
OTHER VALUABLE PAPERS PERTAINING TO THE
PROPERTY.
The new home or other real estate you have purchased is pro-
tected with a policy of title insurance issued by First American
Title Insurance Company, This is your guarantee of ownership.
We have assigned the above number to your records to assure
prompt processing of future title orders involving the property.
If you sell or obtain a loan on this property within two years,
FIRST AMERICAN TITLE WILL REDUCE THE USUAL POLICY
RATE 20 per cent.
To obtain this SAVINGS, it will be. necessary for you to inform
the real estate agent and /or escrow holder handling further
transactions that such policies of title insurance as are required
should be issued by First American Title.
We appreciate the opportunity of serving you and will be glad to
assist you in any way, remembering that PROTECTION OF YOUR
PROPERTY IS YOUR FIRST CONSIDERATION - -- AND OURS.
Sincerely,
4 �� -�
san Fox
Escrow Officer
Form No. 1084 (10/73)
California Land Title Association
Standard Coverage Policy Form
Copyright 1973
• S.t AMER f
¢ c
R
POLICY OF TITLE INSURANCE
ISSUED BY
First American Title Insurance Company
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, FIRST AMERICAN 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.
IN WITNESS WHEREOF, First American Title Insurance Company has caused this policy to be signed and sealed by its
duly authorized officers as of Date of Policy shown in Schedule A.
� • yob Rq�'. �,
'. SEPTEMBER 24,
d� 1963
+ok� % --q 11 f a
BI 778159
First American Title Insurance Company
BY PRESIDENT
ATTEST /P,� G. SECRETARY
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 Com-
pany 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, de-
visees, survivors, personal representatives, next of
kin, or corporate or fiduciary successors. The term
"insured" also includes (i) the owner of the indebt-
edness secured by the insured mortgage and each
successor in ownership of such indebtedness (re-
serving, 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 I governmental agency or
instrumentality which isi 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 in-
sured in Schedule A.
(e) "knowledge ": actual knowledge, not con-
structive knowledge or notice which may be im-
puted to an insured by reason of any public records.
(f) "land ": the land described, specifically or
by reference in Schedule C, and improvements af-
fixed thereto which by law constitute real property;
provided, however, the term "land" does not in-
clude 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 relating
to the land.
2. la) 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
C by foreclosure, trustee's sale, conveyance in lieu
of foreclosure, or other legal manner which dis-
charges 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 in-
sured; 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 insur-
ance or guaranty insuring or guaranteeing the in-
debtedness secured by the insured mortgage. After
any such acquisition the amount of insurance here-
under, exclusive of costs, attorneys' fees and ex-
penses which the Company may be obligated to
pay, shall not exceed the least of:
(i) the amount of insurance stated in
Schedule A;
(ii) the amount of the unpaid principal
of the indebtedness plus interest thereon, as deter-
mined under paragraph 6 (a) (iii) hereof, expenses
of foreclosure and amounts advanced to protect
the lien of the .insured mortgage and secured by
said insured mortgage at the time of acquisition of
such estate or interest in the land; or •
CONDITIONS AND STIPULATIONS
(iii) the amount paid by any governmental
agency or instrumentality, if such agency or instru-
mentality is the insured claimant, in acquisition of
such estate or interest in satisfaction of its insur-
ance 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 pur-
chase 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 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 termi-
nate in regard to the matter or matters for which
such prompt notice is required; provided, however,
that failure to notify shall in no case prejudice the
rights of any such insured under this policy unless
the Company shall be prejudiced by such failure
and then only to the extent of such prejudice.
(c) The Company shall have the right at its
own cost to institute and without undue delay
prosecute any action or proceeding or to do any
other act which in its opinion may be necessary or
desirable to establish the title to the estate or inter-
est or the lien of the insured mortgage, 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 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 litigation to final
determination by a court of competent jurisdiction
and expressly reserves the right, in its sole discre-
tion, to appeal from any adverse judgment or order.
(e) In all cases where this policy permits or re-
quires the Company to prosecute or provide for
the defense of any action or proceeding, the in-
sured hereunder shall secure to the Company the
right to so prosecute or provide defense in such
action or proceeding, and all appeals therein, and
permit the Company to use, at its option, the name
of such insured for such purpose. Whenever re-
quested by the Company, such insured shall give
the Company, at the Company's expense, all reason-
able aid (1) in any such action or proceeding in
effecting settlement, securing evidence, obtaining
witnesses, or prosecuting or defending such action
or proceeding, and (2) in any other act which in
the opinion of the Company may be necessary or
desirable to establish the title to the estate •
interest or the lien of the insured mortgage, as in-
sured, including but not limited to executing cor-
rective or other documents.
4. PROOF OF LOSS OR DAMAGE —
LIMITATION OF ACTION
In addition to the notices required under Para-
graph 3 (b) of these Conditions and Stipulations, a
proof of loss or damage, signed and sworn to by the
insured claimant shall be furnished to the Com-
pany within 90 days after the insured claimant
shall ascertain or determine the facts giving rise to
such loss or damage. Such proof of loss or damage
shall describe the defect in, or lien or encumbrance
on the title, or other matter insured against by this
policy which constitutes the basis of loss or dam-
age, 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 Company, shall furnish
such additional information as may reasonably be
necessary to make such determination.
No right of action shall accrue to insured
claimant until 30 days after such proof of loss or
damage shall have been furnished.
Failure to furnish such proof of loss or damage
shall terminate any liability of the Company under
this policy as to such loss or damage.
5. OPTIONS TO PAY OR OTHERWISE SETTLE
CLAIMS AND OPTIONS TO PURCHASE IN-
DEBTEDNESS
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 termi-
nate 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 irf
curred 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 together with
all costs, attorneys' fees and expenses which the
Company is obligated hereunder to pay. If the
Company offers to purchase said indebtedness as
herein provided, the owner of such indebtedness
shall transfer and assign said indebtedness and the
mortgage and any collateral securing the same to
the Company upon payment therefor as herein
provided. Upon such offer being made by the
Company, all liability and obligations of the Com-
pany hereunder to the owner of the indebtedness
secured by said insured mortgage, other than the
obligation to purchase said indebtedness pursuant
to this paragraph, are terminated.
6. DETERMINATION AND PAYMENT OF LOSS
(a) The liability of the Company under this
policy shall in no case exceed the least of:
(i) the actual loss of the insured claimant;
or
(ii) the amount of insurance stated in
Schedule A, or, if applicable, the amount of in-
surance as defined in paragraph 2 (a) hereof: or
(iii) if this policy insures the owner of the
indebtedness secured by the insured mortgage, and
provided said owner is the insured claimant, the
amount of the unpaid principal of said indebted-
ness, plus interest thereon, provided such amount
shall not include any additional principal indebted-
ness 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
(Continued on inside back cover)
Form No. 1084 — A
CLTA Standard Coverage Policy
Copyright - 1973 1
SCHEDULE A
Ind. FA 11
Total Fee for Title - Search, Examination
'and Title Insurance $ ' 169.50
Amount of Insurance: $ 25,000.00 Policy No. SLO- 821270 SF
Date of Policy: May 24, 1982 at 8:00 a.m.
1. Name of Insured:
CITY OF SAN LUIS OBISPO,
a Chartered Municipal Corporation.
2. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS OBISPO,
a Chartered Municipal Corporation.
3. The estate or interest in the land described in Schedule C and which is covered by this policy is:
A FEE
Form St — B. . •
CLTA Standard tlartl Coverage Policy
Copyright —1974
SLO- 821270,SF
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 One:
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 in land beyond the lines of the area specifically described or referred to
in Schedule C, or in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this paragraph
shall modify or limit the extent to which the ordihary 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) restrict-
ing 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 govern-
mental 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 in-
sured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known to the
: nsured 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.
Part Two:
1. Taxes for.the fiscal year 1982 -83, a lien not "yet due or payable.
2. Any additions to General and Special Taxes which may be assessed by
reason of:
a) Improvements added subsequent to March 1, 1975.
b) Changes in ownership occuring subsequent to March 1, 1975.
c) Reappraisal—of property values as of March 1, 1975.
3, A lease dated February 27, 1929, executed by Tom Nakaji, Lessor, and S. Yamagishi,
Lessee, for the term of 50 years from February 27, 1929, upon the terms,
conditions and covenants therein contained, recorded March 4, 1929, in Book 56,
Page 341 of Official Records, reference being hereby made to the record
thereof for further particulars.
NOTE: The lessees interest in the above mentioned lease has since passed
to and is now vested in Jutaro Yamagishi by assignment dated October
29, 1932 and recorded October 31, 193.2 in Book.123, Page 429 of Official
Records:
SLO- 821270 SF
4. A Memorandum of.Lease affecting a portion of said land dated June 1, 1929, _
executed by S. Yamagishi. and Haru Yamagishi, his wife, as Lessor and.Shell
Oil Company, a California corporation, as Lessee, recorded July'24, 1929 in
Book 68, Page 325 of Official, Records, for the period and upon the terms,
covenants and conditions contained in an unrecorded lease between the same parties
herein referred to.
NOTE: The lessees interest in the above mentioned lease has since passed
to and is now vested in Jutaro Yama,gishi by assignment dated October 29,
1932.and- recorded October 31-, 1932, -in Book M, Page 429 of.Official
Records.
Form No. 1056 -4
All Policy Forms
SCHEDULE C
The land referred to in this policy is situated in the State of Cal i forni a
County of San Luis Obispo
SLO- 821270 SF
and is described as follows:
All that part of Lots 8 and 9 in Block 147 in Harford's Addition to the City
of San Luis Obispo, in the City of San Luis Obispo, County of San Luis Obispo,
State of California, according to the map of said Addition made by B.F.
Hinchliffe in April 1876 on file in the office of the County'Recorder of
said County, described as follows:
Beginning at a point on the Westerly line of Higuera Street, distant thereon
50 feet Northerly from the Northwest corner of Higuera and South Streets, in
said city, and running thence.Northerly along the Westerly line of Higuera
Street, 100 feet; thence Westerly and parallel with the Northerly line of
South Street, 150 feet; thence Southerly, and parallel.with the Westerly line
of Higuera Street, 100, feet to'the Northerly line of the lot conveyed by
J. W. Wilkinson and Lena Wilkinson, his wife, to A. S. 011iver, by deed dated
September 6, 1928 and recorded in the office of the County Recorder of said
County in Book 54, Page 412 of Official Records.; thence Easterly along said
line, 150 feet to the Westerly line of Higuera Street and the point of beginning.
0 INDORSEMENT
Attached to Policy No.
Issued by
SLO- 821270 SF
First American Title Insurance Company
The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional
monetary protection to the Insured Owner named in said Policy, hereby modifies said Policy, as follows:
1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by said
Policy, as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to
the extent hereinafter specified.
2. "Adjustment Date" is defined, for the purpose of this Indorsement, to be 12:01 a. m. on the first January 1 which
occurs more than six months after the Date of Policy, as shown in Schedule A of the Policy to which this Indorse-
ment is attached, and on each succeeding January 1.
3. An upward adjustment will be made on each of the Adjustment Dates, as defined above, by increasing the maxi-
mum amount of insurance provided by said Policy (as said amount may have been increased theretofore under the
terms of this Indorsement) by the same percentage, if any, by which the United States Department of Commerce
Composite Construction Cost Index (base period 1967) for the month of September immediately preceding ex-
ceeds such Index for the month of September one year earlier; provided, however, that the maximum amount of
insurance in force shall never exceed 150% of the amount of insurance stated in Schedule A of said Policy, less
the amount of any claim paid under said Policy which, under the terms of the Conditions and Stipulations, re-
duces the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for
years in which there is no increase in said Construction Cost Index.
4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force shall be
deemed to be the amount which is in force as of the date on which the insured claimant first learned of the
assertion or possible assertion of such claim, or as of the date of receipt by the Company of the first notice of
such claim, whichever shall first occur.
Nothing herein contained shall be construed as extending or changing the effective date of said Policy.
This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein, except
as modified by the provisions hereof.
First American Title Insurance Company
BY PRESIDENT
BY
ASSISTANT SECRETARY
Marcus Harmon
„��y111€ i`�sb9h�4
0
Y SEVEMB €R 24,
d� 1968
+
NOTE: In connection with a future application for title insurance covering said land, reissue credit on premium charges
(if applicable at all) will be allowed only upon• the original face amount of insurance as stated in Schedule A of said Policy.
FA — 11 (9- 30 -74)
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• CONDITIONS AND STIPULATIO0
(Continued from inside front cover)
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 con-
ditions 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 encumbrance in-
sured against hereunder, by litigation or other-
wise, removes such defect, lien or encumbrance or
establishes the title, or the lien of the insured mort-
gage, as insured, within a reasonable time after
receipt of such notice; (b) in the event of litigation
until there has been a final determination by a
court of competent jurisdiction, and disposition of
all appeals therefrom, adverse to the title or to the
lien of the insured mortgage, as insured, as pro-
vided 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; TERMINA-
TION OF LIABILITY
All payments under this policy, except pay-
ment made for costs, attorneys' fees and expenses,
shall reduce the amount of the insurance pro tanto;
provided, however, if the owner of the indebtedness
secured by the insured mortgage is an insured here-
under, then such payments, prior to the acquisition
of title to said estate or interest as provided in
paragraph 2 (a) of these Conditions and Stipula-
tions, shall not reduce pro tanto the amount of the
insurance afforded hereunder as to any such in-
sured, 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 paragraph 2 (a)
hereof.
9. LIABILITY NONCUMULATIVE
It is expressly understood that the amount of
insurance under this policy, as to the insured owner
of the estate or interest covered by this policy, shall
be reduced by any amount the Company may pay
under any policy insuring (a) a mortgage shown or
referred to in Schedule B hereof which is a lien
on the estate or interest covered by this policy,
or (b) a mortgage hereafter executed by an insured
which is a charge or lien on the estate or interest
described or referred to in Schedule A, and the
amount so paid shall be deemed a payment under
this policy. The Company shall have the option to
apply to the payment of any such mortgage any
amount that otherwise would be payable hereunder
to the insured owner of the estate or interest cov-
ered by this policy and the amount so paid shall be
deemed a payment under this policy to said insured
owner.
The provisions of this paragraph 9 shall not
apply to an owner of the indebtedness secured by
the insured mortgage, unless such insured acquires
title to said estate or interest in satisfaction of said
indebtedness or any part thereof.
10. SUBROGATION UPON PAYMENT OR
SETTLEMENT
Whenever the Company shall have paid or
settled a claim under this policy, all right of sub -
rogation 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 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 in-
sured 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 here-
by 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 Com-
pany. 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 Com-
pany shall be subrogated to such rights and reme-
dies 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
shouldresultfrom any act of such insured claimant,
such act shall not void this policy, but the Com-
pany, 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 endorse-
ments and other instruments, if any, attached here-
to by the Company is the entire policy and con-
tract between the insured and the Company.
Any claim of loss or damage, whether or not
based on negligence, and which arises out of the
status of the lien of the insured mortgage or of the
title to the estate or interest covered hereby, or
any action asserting such claim, shall be restricted
to the provisions and conditions and stipulations of
this policy.
No amendment of or endorsement to this
policy can be made except by writing endorsed
hereon or attached hereto signed by either the
President, a Vice President, the Secretary, an
Assistant Secretary, or validating officer or author-
ized signatory of the Company.
No payment shall be made without producing
this policy for endorsement of such payment un-
less 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 fur-
nished the Company shall be addressed to it at its
home office at 421 North Main Street, Santa Ana,
California, 92701, or to the office which issued
this policy.
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AGREEMENT
THIS AGREEMENT made and entered into this _ 17th day of _'November_
1981, by and between PETER K. LEE and PAUL LEE (hereinafter called
"Grantors "), and the CITY OF SAN LUIS OBISPO, a Municipal Corporation
(hereinafter called "City ").
WITNESSETH:
In consideration of the mutual''benefits, promises and agreements
set forth herein, the parties hereto agree as follows:
1. Grantors shall convey to the City 2000 square feet (0.046
acres), more or less, lying along Higuera Street as described on the
attached Exhibit A.
2. City agrees to remove existing curb, gutter, and sidewalk
and to install.new curb, gutter, and sidewalk to the new street
alignment created by the conveyance. Driveway ramps shall be
provided to accommodate the subject property to satisfaction of
Grantors and�in accordance with City standards.
3. City agrees to pay Grantors seventeen i:bhousarn.d, l.d6.11ars
($17,000) for the'above conveyance. In addition, City agrees to pay
Grantors $8,000 as total compensation relating to severance damages,
upon delivering an executed deed and any required reconveyances.
The compensation is limited to the'2000.square foot acquisition only.
City agrees`to "relocate existing sign (or new sign supplied
by Grantors) within acquisition area to location desired by Grantors,
in accordance with.the sign permit to be acquired by Grantors.
5: City-will provide all necessary engineering, relocate
utilities and' drainage 'improvements -as.necessary, and pave out the
street to the new gutter'.
6. City will.require provisions in its contract for reasonable
access to Grantors' property at all times during construction and to
provide for coordination between the contractor, the City, and
Grantors to minimize disruption of Grantors' business operations.
7. City-will re- landscape,within the front 20 feet (after
widening) of Grantors' property in a manner similar to that which
exists; said landscaping to-be installed within 45 days after completion
of the street widening project.
8. City will pay all title 'and escrow fees.
9. By virtue of taking, and minimized setback of existing
building, City agrees and covenants with present and future owners of
this property that no future remodel, improvement, modification or
replacement of existing or new buildings shall be denied by reason of
existing or future setbacks regardless of valuation of work.without
just compensation to.owner of record.
IN WITNESS WHEREOF, the parties hereto have executed this
agreement on the day and year first above written.
ATTEST:
GRANTORS:
PEKING PALACE OF SAN LUIS OBISPO
(Ait2d Partnership)
Peter I . Lee
Paul Lee
CITY OF SAN LUIS OBISPO
A Municipal Corporation
City Clerk Pamela oges ay elanie C.
APPROVED:
City Admin strativ Officer
City Attorney
City` gi er
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RESOLUTION NO. 4670 (1981 Series)
A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN
LUIS OBISPO APPROVING AN AGREEMENT BETWEEN THE
CITY AND PETER LEE AND PAUL LEE
BE IT RESOLVED by the Council of the City of San Luis Obispo as follows:
SECTION 1. That certain agreement, attached hereto marked Exhibit "A"
and incorporated herein by reference, between the City of San Luis Obispo
and Peter Lee and Paul Lee.is hereby approved and the Mayor is authorized
to execute the same.
SECTION 2. The City Clerk shall furnish a copy of this resolution and
a copy of the executed agreement approved by it to Peter Lee and Paul Lee
located at 214 Higuera Street, San Luis Obispo, California 93401.
On motion of Councilman.'Settle seconded by Councilwoman Dovev ,
and on the following roll call vote:
. AYES: Councilmembers Settle., Dovey, Dunin, Griffin and Mayor Billig
NOES: None .
ABSENT: None
the foregoing Resolution was passed and adopted this 17th day of November ,
1981.
�-T2
. BILLIG
ATTEST: /
CIT CLERK PAMELA 1 0 ES
APPROV D: (/
City Administrativ /Officer
City At
r'inanc-t- Dir 'dct3f
Cit n2ineer
R 4670