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Home My WebLink AboutD-1221 Excess Right-Of-Way Se Corner Chorro/Walnut Recorded 12/04/1984RECURU NG REQUE�ED _.brow No. -.:,.Loan No." WHEN RECORDED MAIL TO: Chorro Street Partnership c/o Barry Williams 1110 California Blvd. San Luis Obispo, CA 93401 MAIL TAX STATEMENTS TO: Chorro Street Partnership c/o Barry Williams 1110 California Blvd. San Luis Obispo, CA 93401 • DOC. N0... �..,O OFFICIAL RECORDS I /03 /65�a7.i 7� 1.4 SAN LUIS OBISPO CO., CAL JAN 3 1956 FRANCIS M. GOONEY County C r Recorder TIME 1!50 PM• FILED FEE PAID EXEMPT u SPACE ABOVE THIS LINE FOR RECORDER'S USE DOCWENTARY TRANSFER TAX ....................... ...... Computed on the consideration or value of property conveyed; OR ...... Computed on the consideratiop or value less liens or encumbrances ,opaining at ti m of sale. Ignature f Declarant or Agent determining tax — Firm Name CORPORATION GRANT DEED APN 02- 294 -15 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, The City of San Luis Obispo, a corporation organized under the laws of the State of California does hereby ,---..,,GRANT to Chorro Street Partnership, a limited partnership, the real property in the City of San Luis Obispo County of San Luis Obispo State of California, described as -See attached Exhibit A- sheets 1-& 2 — - - - -- - Legal description of Chorro and Walnut abandonment. THIS DOCUMENT IS BEING RE- RECORDED DUE TO ERROR IN DESCRIPTION (EXHIBIT A) CITY OF SAN LUIS OBISPO - -- Dat ,6`d: 12= 6- 8.5 - -- - - -- MAY iZON llUNIN- -- - -- - - -,� 4TTEST: City of San Luis Obispo Dated: I-larch 14, 1986 CIY CL�RK VAI`IELA VOGES YOR . / ATTEST: 'Dated P LA VOGES, CIT CLERK " -V.ATE OF CALIFORNIA l w I!:._,, ,,i;.• :.OUNT CIF ............................ .. l ! i I i .i ,,.. 1 By - ' � --- - - - -,— — 7 1 ,. - -- -- -- - - - - -- President On i +fore me, the undersigned, a Notary Public in and for said :hate, personally appeared By i i. i Secretary v ! Vknown to me to be the President, and i i _nown to me to be the Secretary of the corporation that executed the within instrument, and known ! to me to be the persons who executed the within instrument on behalf of the corporation therein named, and acknowledged to me -- that such corporation executed the within instrument pursuant to its by -laws or a resolution of its board of directors. WITNESS my hand and official seal. Signature (This MAIL TAX STATEMENTS AS DIRECTED ABOVE YLL ��t PAGE ��c] A-00/691 t l 0 0 tl I _1 LU LL-1 0 v M 0 7.Po.13.� N54 °D9'E 3 WALNUT STREET b0.02' OJ KIW BATA R q0-00 I ; AN L f' .. ......... PoKI1oN of sTl�> =f Tp � ABAFIGDNEb v4 w•'n �' N1.30' S r FEAGH r 5r 3 o w 0 0 F-- su LU O O v T.F0.15 STREET - SGALE 1.30' rAweK EM EMW Q' P 11 City �� ABANDONMENT OF EXGM E14HT-OF-WAY im San LUIS OBI SPO AT SOUTHEAM CDANER Department of Community Development 990 Palm Street /Post Office Box 321, San Luis Obispo, CA 93406 W0UT CHOWD, SMET DATArRINT NI5561 NOVEMBER 194 vc: ? 788 PACE 637 • LEGAL DESCRIPTION OF CHORRO AND WALNUT STREETS ABANDONMENT. That portion of Lot 1, Block 69, City of San Lu' Obispo, ounty of San Luis Obispo, according to the official map on file the Offic of the Recorder of said county, particularly described as fo ws: BEGINNING at a point on the westerl ne of horr Str d stant along said westerly line North 350 51' Wes 150. f t from most asterly corner of Block 67, said r also ing th nters tion of the westerly line of the above sa' Chorro treet a e nor erly line of Peach Street according to the ab a sai map-, ence, North 02' 14" East, 79.64 feet to a point on the eas rly ine of sa Chor Street, said point being the True Point of eginning; ence, North 540 9' East, 20.00 feet; thence North 350 51' West, 4.25 fee the e, N h 560 23' East, 12.02 feet; thence North 280 ' 08" Eas 75.61 fe t ce, North 350 51' West, 1.30 feet.to a point on he so erly rde of W nut Street (formerly Sycamore Street); ce Sou ° 07' 40" st ong the southerly boundary of Walnut Street 60.02 f t;* ence o a cu concave to the east with a radius of 40.00 feet through a ent 1. gle f 8.90 58' 40" an arc distance of 62.81 feet to a point the eas erly lin f Chorro Street; thence South 350 51' .East, 48.02 feet, mo a or 1 ss, to he True Point of Beginning. ' RESERVI therefrom to the City of San Luis Obispo an easement for public sanitary wer purposes over the area above - described EXCEPTING from said resery ion that portion lying southerly of a line bearing North 280 14' 08" Ea commencing at a point distant 38.50 northerly from the True Point of eginning. -- 2 of 2 � 0 OF DOCUME NT VUti I88PAU 8. , o� P `�J — z E I� 1 KNUff Q PEAGH STREET 1 of 2 City Or AMNpbNMENT OF EXCESS RMT-OF-WAY #N �I II� III san Luis OBI spo AT ZMEAS= CONNEK Department of Community Development 990 Palm Street /Post Office Box 321, San Luis Obispo, CA 93406 WALNUT STKEU � GH0RK0 STREET OATAPRINT N15581 % (1 ryDv MA WALNUT MEET 45' 11J b5.03' .: ....:: F— QQ�A r•:; ::•..•::.:�. Q ~f`:. ./ 1.30 e� :::o'. ,,`ti:.::::- :;<4 >:. >:- •:::.::, .:" ..::::' N 35° 51 W M. � �� ® �••� `�'r� �2. (722 ' �r C PDRTIDN OF STREET ` N 54P 04 E 70 �E ABANDDµEb a II. CD' :SEWER /� EASEMENT::: aESEtZVAT1DN J � I I — 25' i /,� II' - -A PRDpEttTY To BE PEDICATED J I 1b SCALE 1" = 3D' I� 1 KNUff Q PEAGH STREET 1 of 2 City Or AMNpbNMENT OF EXCESS RMT-OF-WAY #N �I II� III san Luis OBI spo AT ZMEAS= CONNEK Department of Community Development 990 Palm Street /Post Office Box 321, San Luis Obispo, CA 93406 WALNUT STKEU � GH0RK0 STREET OATAPRINT N15581 % (1 ryDv MA LEGAL DESCRIPTION OF CHORRO AND WALNUT STREETS ABANDONMENT. That portion of Lot 1, Block 69, City of San Luis Obispo, County of San Luis Obispo, according to the official map on file in the Office of the Recorder- of said county, particularly described as follows: BEGINNING at a point on the westerly line of Chorro Street, distant along said westerly line North 350 51' West, 150.00 feet from the most easterly corner of Block 67, said corner also being the intersection of the westerly line of the above said Chorro Street and the northerly line of Peach Street according to the above said map; thence, North 30 02' 14" East, 79.64 feet to a point on the easterly line of said Chorro Street; thence North 540 09' East, 11.00 feet to a point, said point being the True Point of Beginning; thence, North 540 09' East, 9.00 feet; thence. North 350 51' West., 54..25 feet; thence, North 56° 23' East, 12.02 feet; thence North 280 14' 08" East, 75.61 feet; thence, North 350 51' West, 1.30 feet to a point on the southerly border of Walnut. Street (formerly Sycamore Street); thence South 540 07' 40" West along the southerly boundary of Walnut Street 65.03 feet; thence on a curve concave to the east with a radius of 24.00 feet through a central angle of 890 58' 40" an arc distance of 37.69 feet to a point on the easterly line of Chorro Street; thence South 350 51' East, 64.02 feet, more or less, to the True Point of Beginning. RESERVING therefrom to the City of San Luis Obispo an easement for public sanitary sewer purposes over the area above - described EXCEPTING from said reservation that portion lying southerly of a line bearing North 280 14.' 08" East commencing at a point distant 43.41 northerly from the True Point of Beginning. Ex //i19irA S he.et 2 o -F Z Escrow No. R Loan No. WHEN i:;'.0 :0R0ED MAIL TO: Cliori ';i rl ,c Partnership c/o W l,l i:,:rms 1.110 Blvd. San Imis uhispo, CA 93401 SPACE ABOVE THIS LINE FOR RECORDER'S USE MAIL TAX STATEMENTS TO: Chorro ;,greet Partnership � DOCUMENTARY TRANSFER TAX $ ................. .....................•......... c/o B t r r: j Williams O �` ...... Computed on the consideration or value of property conveyed; OR ... Computed on the consideration or value less liens or encumbrances 1110 California Blvd. remaining at time of sale. San Luis Obispo, CA 93401 Signature of Declarant or.Agent determining tax — Firm Name CORPORATION GRANT DEED APN 02- 294_15 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged. The City of San Luis Obispo, a corporation organized under the laws of the State of California GRANT to Chorro Street Partnership, a limited partnership, the real property in the City of San Luis Obispo County of San Luis Obispo See attached Exhibit A sheets 1 & 2 Legal description of Chorro and Walnut abandonment. D:I Led : 1-2-6-85 VOCLS Dated--.-- � ZQ 9S STATE OF CALIFORNIA ] COUNTY OF ;ss On - -- — before me, the undersigned, a Notary Public in and for said State, personally appeared , does hereby , State of California, described as CITY OF SAN LUIS OBISPO MAY RON DUNIN By F'rt�siaeni By known to me to be the President, and Secletary of ;I the nir`rin mstrumeni. )rid known !Ira viiihin i i:,;iruntr,nl, on :u;:';, ;11 I'd ackI' r -l"IL r1!:'.::I r,r [Tie .cur r.ci 11, r. vvi II n instrurnoni pur:u ant to ire lx,nrti of directors. I�ri..;.•,.I 1� (This area for 11;, - ;. 1 - r i L- -'MFNTS AS DIRECTED ABOVE II II ILI 1 v ------ - - - - -- V SCALE I' � 30' 0 0 WALNS EST UT TK bo. OZ' s 51' W KIW DATA . - - - -- --- - - - - -- op) i e - ><?: :....: . MOON OF STttEET TD M AMMEd MM U-M lJ'10MW`1 �S1;RYATIDN C ty 0� r:f'.'� *!I�'' ' I •'4 6 � 'gin tugs oB p 1 :, - ;artrnent of Community Development fp p; i . i ,• i .r::t Offico Box 321, San Luis Obispo. CA 93406 01 0 I 0° z PEACH - -- 7A0T. r D. B. c� le- a v STNEE.T UU 1 of 2 AgA N WENT OF Egg R1 WT- GF -11AY AT souMMW ORXE� WALNUT mORK0 SITTT: i_.. LL•'GAL DESCRIPTION OF CHORRO AND WALNUT STREETS ABANDONMENT. 'Hint portion of Lot 1, Block 69, City of San Luis Obispo, County of `;111 Oi�ispo, according to the official map on file in the Office of the Recor!:!' Of said county, particularly described as follows: BEGINNING at a point on the westerly line of Chorro Street, distant along; said westerly line North 350 51' West,, 150.00 feet from the most easterly corner of Block 67, said corner also being the intersection of the westerly line of the above said Chorro Street and the northerly line of Peach Street according to the above said map; thence, North 30 02' 14 "East; 79.64 feet to a point on the easterly line of said Chorro Street, said point being the True Point of Beginning; thence, North 540 09' East, 20.00 feet; thence North 350 51' West, 54.25 feet; thence, North 560 23' East, 12.02 feet; thence North 280 14' 08" East, 75.61 feet; thence, North 350 51` West, 1.30 feet to a point on the southerly border of Walnut Street (formerly Sycamore Street); thence South 540 07' 40" West along the southerly boundary of Walnut Street 60.02'feet; thence on a curve concave to the east with a radius of 40.00 feet through a central angle of 890 58' 40" an arc distance of 62.81 feet to a point on the easterly line,of Chorro Street; thence South 350 51' East, 48.02 feet, more or less,, to the True Point of Beginning. RESERVING therefrom to the City of San. Luis Obispo an easement for public sanitary sewer purposes over the area above- described EXCEPTING from said reservation that portion lying southerly of a line bearing North 28.0 14' 08" East commencing at a point distant 38.50 northerly from the True Point of Beginning. I '' iai W R RESOLUTION NO. 5571 (1984 Series) A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN LUIS OBISPO APPROVING AN AGREEMENT BETWEEN THE CITY AND BARRY L. WILLIAMS FOR THE SALE OF PROPERTY AT THE SOUTHEASTERLY CORNER OF CHORRO AND WALNUT STREETS. BE IT RESOLVED by the Council of the City of San Luis Obispo as follows: SECTION I. That an agreement, attached and marked Exhibit "A ", between the City of San Luis Obispo and Barry L. Williams for the sale of property at the corner of Chorro and Walnut Street is hereby approved and the Mayor is authorized to execute the agreement. SECTION 2. The City Clerk shall furnish a copy of this resolution and a copy of the executed agreement approved by it to: Barry L. Williams and the City Engineer. On motion of Councilman Settle , seconded by - Councilman -Dunn , and on the following roll call vote: AYES: Counci] members Settle, Dunin, Dovey and Mayor Billig NOES: None ABSENT: Councilman Griffin the foregoing resolution was passed and adopted this 4th. day of December, 1984. ATTEST: 47- Pay la V0V s R 5571 ` R !+e�z/lv�ion No. 5571 (1984 Series) 8 �ity Adrnl—nl—sfta4tv' ZCity'At rney ` I 0 1 0 AGREEMENT THIS AGREEMENT, executed this 4th day of December X984, by and between BARRY L. WILLIAMS, hereinafter called "Williams" and the CITY OF SAN LUIS OBISPO, a municipal corporation, hereinafter called "City ", to i wesseth: 1. City shall convey to Williams property at the southeasterly corner of. Chorro and Walnut. Streets as indicated on the attached Exhibit A. ) 1 2. Williams shall pay the sum of nine thousand three hundred ($9,300) dollars to City. A parcel map shall be recorded to reflect the new .� parcel, in accordance with the City's subdivision ordinance. I 3. Williams shall offer to dedicate additional Chorro Street +-,,o +„ aG indicated on the attached Exhibit A. ATTEST �... Llo.. Cit Clerk Paine a Vog APPROVED C:r�,�"mnity D ve opment Director ro Street Partnership 61 '0 //��iJ.c /�% tsarry vv"l' s, General Partner 0 °� — z WALNUT STREET - 4 i � � 65.03' �► '.:,��: "'ti`�`4��:.:> "�3`��`��:,:..,�<'� -��•� � 1.30' R... •c�� "} N b�23E � aw, 9.DO' 11.00' N 54° 09' E Al = 2ZN % FT A2 FT �I rJr SCALE V - 30' PFA M STREET -- �. --I-uy of n Luis OBI spo r j wry :irtment of Community Development n psi, ;ir— llP0::1 Office Box 321. San Luis Obispo. CA 93406 ~17DRT10N OF STREET TO AE ABAµDOµ6b • SEWER CEMENT EZESEKVATIDN T'RDPEIZTY 'ID Be PED16ATED Nwmg g )� AC��EEMENT To sEl� �a��Y AT VTHEWM CDPWEIz WALNUT CAT. NO. NN00051 TO ( _ NOTICE OF OF RETURNED DOCUMENTS RECEIVED TITLE INSURANCE FEB 111986 P.O. Box 810, San Luis Obispo, CA OFFICE OF CITY 11 TORNFY City of San .Luis Obispo Our No. 150245 LW Attn: Ann Russell Your No. 1330 Buchon, .SLO Assistant City Attorney Godfrey P.O. Box 8100 �- Date We �re k1gi ing YostP%e It;em2 WoeldJ %Oelow: 2-10-86 ❑ Receipted tax bill which has served our purpose. ❑ Copy of covenants, conditions and. restrictions ordered by you. ❑ Escrow Instructions dated ❑ : Preliminary Title Report :dated as .of ❑ Recorded instrument which you sent to us for examination. ❑ Plat to be used with the order number shown above: [ Policy of Title Insurance per your instructions. - a, new title policy reflecting the corrected legal description. Ticor Title Insurance. Company of California Kathy Reese Escrow or Title Officer County W u z co a W N W O~ 0 u � ro m •C4 'v � � � 'm ro � � � � moo°' a co �o m ��v• b ° a. U °b�� 04 C �J•� no a� p y cc y > v� ^ a C . oo a w w aAi co O p � ° cct 4 a" .v p '� �i y y aXi `�° > y CL ca A. c b a .� a� y co p ^cro -� y o q > W O o o co ai � m � � °>, - C C> o a. oc°o ) -C ❑ o v > 0 aa�.�-da�a o A.� a DoE 0) ocr) w a°0cca cc (3) C [ q a� y o g 3 a�_F" ° U to °' c J4 r. O a: U O F+ 'O C G O 'O ;= cam. ro a) ,,,> ,. R m CA O +J a) .� p O O O a O Co 'O ❑ ai F v ° O O Gy '- LO 3 O O 'F., y .0 p0 cc y to }' i x 7 p to O i � ro Z! O a O y X X O Oa a47 Oa U >. U c cc O +L• 0 m Q c r- E. o ro w w U �— => -'oF" c o o�.c Od aZ mop O U w O w a F Z W w Q H W C7 d W 0 w O W F-+ w w O U ❑ Z • W Cz. W O¢ O� ❑a Z� Z Ud Z ac CO cc E� �. W U X W [�] W U w co U N M 'O w w Z a z � z • od2,, ro'� a.� � U .L C 3 F. • ^ gf.�UxOUX:aE�O C C w •o ad w U U b qa ro O Cz a� Lo U ^a p G � G O p w U O ..aZrc��y wr- UP" a c-NC'7 F Z W w Q H W C7 d W 0 w O W F-+ w w O U ❑ Z • W Cz. W O¢ O� ❑a Z� Z Ud Z ac CO cc E� �. W U X W [�] W U w co U N M 'O Z a • od2,, ro'� a.� � U .L C 3 F. • ^ gf.�UxOUX:aE�O C C w w U 3 CONDITIONS (CONTINUED) PAGE 5 HANDLING A CLAIM OR COURT CASE You must cooperate with us in handling any claim or court case and give us all relevant information. Unless you can show that payment was reasonable and necessary, we will not reimburse you for money you pay, or agree to pay: • to settle disputes or • to cover expenses and attorneys' fees We will repay you for all expenses that we approve in advance. When we prosecute or defend a court case, we have a right to choose the attorney. We can appeal any decision to the highest court. We do not have to pay your claim until your case is finally decided. 6 LIMITATION OF THE COMPANY'S LIABILITY a. We will pay up to your actual loss or the Policy Amount in force when the claim is made — whichever is less. b. If we remove the claim against your title within a reasonable time after receiving notice of it, we will have no further liability for it. If you cannot use any of your land because of a claim against your title, and you rent reasonable substitute land or facilities, we will repay you for your actual rent until: ❑ the cause of the claim is removed or ❑ we settle your claim c. The Policy Amount will be reduced by all payments made under this Policy— except for costs, attorneys' fees and expenses. d. The Policy Amount will be reduced by any amount we pay to our insured holder of any mortgage shown in this Policy or a later mortgage given by you. e. If you do anything to affect any right of recovery you may have, we can subtract from our liability the amount by which you reduced the value of that right. 7 TRANSFER OF YOUR RIGHTS When we settle a claim, we have all the rights you had against any person or property related to the claim. You must transfer these rights to us when we ask, and you must not do anything to affect these rights. You must let us use your name in enforcing these rights. We will not be liable to you if we do not pursue these rights or if we do not recover any amount that might be recoverable. With the money we recover from enforcing these rights, we will pay whatever part of your loss we have not paid. We have a right to keep what is left. 8 OUR LIABILITY IS LIMITED TO THIS POLICY This Policy, plus any endorsements, is the entire contract between you and the Company. Any title claim you make against us must be made under this Policy and is subject to its terms. TICOR TITLE INSURANCE COMPANY OF CALIFORNIA By Attest Isident retary TO 2208 (2 -93) American Land Title Association Residential Title Insurance Policy — 1979 CAT. NO. N NO0927 J TICOR TITLE INSURANCE } _ I. -.'� enders Copy RESIDENTIAL TITLE INSURANCE POLICY ONE-TO-FOUR FAMILY RESIDENCES OWNER'S COVERAGE STATEMENT This Policy insures your title to the land described in Schedule A —if that land is a one -to -four family residential lot or condominium unit. Your insurance. as described in this Coverage Statement. is effective on the Policy Date shown in Schedule A. Your insurance is limited by the following: ❑ EXCLUSIONS on page 2 COVERED TITLE RISKS This Policy covers the following title risks, if they affect your title on the Policv Date. 1 Someone else owns an interest in vour title. 2 A document is not properly signed, sealed. acknowledged or delivered. 3 Forgery. fraud. duress. incompetency. incapacity or impersonation. 4 Defective recording of any document. rJ You do not have any legal right of access to and from the land. 6 There are restrictive covenants limiting your use of the land. % There is a lien on your title because of: 0 a mortgage or deed of trust a judgment, tax or special assessment ❑ a charge by a homeowner's or condominium association El EXCEPTIONS in Schedule B 1 PAGE ❑ CONDITIONS on pages 2 and 3 We insure you against actual loss resulting from: ❑ any title risks covered by this Policy —up to the Policy Amount and ❑ anv costs. attorneys' fees and expenses we have to pay under this Policy 8 There are liens on your title, arising now or later. for labor and material furnished before the Policy Date — unless you agreed to pay for the labor and material. 9 Others have rights arising out of leases, contracts or options. 10 Someone else has an easement on your land. 11 Your title is unmarketable, which allows another person to refuse to perform a contract to purchase, to lease or to make a mortgage loan. 12 You are forced to remove your existing structure other than a boundary wall or fence — because: ❑ it extends on to adjoining land or on to any easement ❑ it violates a restriction shown in Schedule B ❑ it violates an existing zoning law 13 You cannot use the land for a single - family residence because such a use violates a restriction shown in Schedule B or an existing zoning law. 14 Other defects. liens or encumbrances. COMPANY'S DUTY TO DEFEND AGAINST COURT CASES We will defend your title in any court case that is based on a matter insured against by this Policy. We will pay the costs, attorneys' fees and expenses we incur in that defense. We can end this duty to defend your title by exercising any of our options listed in Item 4 of the Conditions. THIS POLICY IS NOT COMPLETE WITHOUT SCHEDULES A AND B ATTACHED. EXCLUSIONS P 2 E In addition to the Exceptions in Schedule B, you are not insured against loss, costs, attorneys' fees and expenses resulting from: 1 Governmental police power, and the existence or violation of any law or government regulation. This includes building and zoning ordinances and also laws and regulations concerning: ❑ land use ❑ improvements on the land ❑ land division ❑ environmental protection This exclusion does not limit the zoning coverage described in Items 12 and 13 of Covered Title Risks. 2 The right to take the land by condemning it, unless a notice of taking appears in the public records on the Policy Date. CONDITIONS 1 DEFINITIONS a. Easement —the right of someone else to use your land for a special purpose. b. Land —the land or condominium unit described in Schedule A and any improvements on the land which are real property. c. Mortgage —a mortgage, deed of trust, trust deed or other security instrument. d. Public Records —title records that give con- structive notice of matters affecting your title — according to the state law where your land is located. e. Title —the ownership of your interest in the land, as shown in Schedule A. 2 CONTINUATION OF COVERAGE This Policy protects you as long as you: ❑ own your title or ❑ own a mortgage from anyone who buys your land or ❑ are liable for any title warranties you make This Policy protects anyone who receives your title because of your death. 3 HOW TO MAKE A CLAIM If anyone claims a right against your insured title, you must notify us promptly in writing. 3 Title Risks: ❑ that are created, allowed or agreed to by you ❑ that are known to you, but not to us, on the Policy Date — unless they appeared in the public records ❑ that result in no loss to you ❑ that first affect your title after the Policy Date —this does not limit the labor and material lien coverage in Item 8 of Covered Title Risks 4 Failure to pay value for your title. 5 Lack of a right: ❑ to any land outside the area specifically described and referred to in Item 3 of Schedule A, or ❑ in streets, alleys or waterways that touch your land This exclusion does not limit the access coverage in Item 5 of Covered Title Risks. Send the notice to: Ticor Title Insurance Company of California Claims Department 6300 Wilshire Boulevard P.O. Box 92792 Los Angeles, California 90009 Our obligation to you could be reduced if: ❑ you fail to give prompt notice and ❑ your failure affects our ability to dispose of or to defend you against the claim 4 OUR CHOICES WHEN YOU NOTIFY US OF A CLAIM After we receive your claim notice or in any other way learn of a matter for which we are liable, we can do one or more of the following: a. Pay the claim against your title. b. Negotiate a settlement. c. Prosecute or defend a court case related to the claim. d. Pay you the amount required by this Policy. e. Take other action which will protect you. f. Cancel this Policy by paying the Policy Amount, then in force, and only those costs, attorneys' fees and expenses incurred up to that time which we are obligated to pay. (CONTINUED ON PAGE 3) •c CAT. NO.. NN00946 TO 2225 (9 -84) ENDORSEMENT ISSUED BY Ticor Title Insurance Company of California Attached to and forming a part of Policy of Title Insurance No. 150245 Said policy is hereby amended by adding the owner of the indebtedness secured; by the mortgage shown in paragraph ] of Schedule. B ( "insured mortgage "), as an insured lender; and, as to the insured lender only, said policy is hereby further amended to insure against actual loss resulting from: 1. The invalidity or unenforceability of the lien of the insured mortgage except to the extent that such invalidity or unenforceability, 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; 2. The priority of any lien or encumbrance over the lien of the insured mortgage, said . mortgage being shown in Schedule B in its order of priority; or 3. The invalidity or unenforceability of any assignment, shown in Schedule B, of the insured mortgage or the failure of said assignment to vest title to the insured mortgage in the insured assignee free and clear of all liens. Said policy is hereby, further amended, as to the insured lender only, by modifying the Conditions on pages 2 and 3 thereof as follows: A. Paragraph 1 ( Definitions) is hereby amended by adding subparagraphs (f) and (g) as follows: f. Insured Lender — 0) 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 distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin or corporate or fiduciary successors 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. g. Insured Mortgage — a mortgage shown in Schedule B, the owner of which is named as an insured lender herein. B. Paragraph 2 (Continuation Of Coverage) is hereby deleted, and there is substituted in lieu thereof the following: 2. CONTINUATION OF COVERAGE a. After Title Acquired — This policy shall continue in force as of Policy Date in favor of an insured lender who acquires all or any part of said 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 the insured lender is a corporation, its transferee of the interest so acquired, provided the transferee is the parent or wholly owned subsidiary of the insured lender; and in favor of any governmental agency or instrumentality which acquires all or any part of the interest pursuant to a contract of insurance or guaranty insuring or guaranteeing the indebtedness secured by the insured mortgage; provided that the amount of insurance hereunder after such acquisition; exclusive of costs, attorneys' fees and expenses which the Company may become 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 as defined in paragraph 6 hereof, plus interest thereon, 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 interest in the land; or (iii) the amount paid by any governmental agency or instrumentality, if such agency or instru mentality is claiming loss or damage hereunder, in the acquisition of such interest in satisfaction of its insurance contract or guaranty. l b. After Title Conveyed — The coverage of this policy shall continue in force as of Policy Date in favor of an insured lender so long as such insured lender retains an interest, in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from such insured lender, or so long as such insured lender shall have liability by reason of covenants of warranty made by such insured lender in any transfer or conveyance of such interest; provided, however, this policy shall not continue in force in favor of any purcahser from such in- sured lender of either said interest or the indebtedness secured by a purchase money mortgage given to such insured lender. C. Paragraph 4 (Our Choices When You Notify Us. Of A Claim) is hereby amended by add- ing subparagraph (g) as follows: (g) In case loss or damage is claimed under this policy by an insured lender, the Company shall have the further option to purchase the indebtedness secured by the insured mortgage 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. D. Subparagraph (a) of paragraph 6 (Limitation Of The Company's Liability) is hereby deleted; and there is substituted in lieu thereof the following: SCHEDULE A 150245- DT -LW -VH PAGE I ' (DT1) POLICY NUMBER 150245 POLICY DATE FEBRUARY 5. 1986 AT 8:00 A,M. POLICY AMOUNT $135,550.00 PREMIUM $640.00 THE POLICY AMOUNT WILL AUTOMATICALLY INCREASE BY 10% OF THE AMOUNT SHOWN ABOVE ON EACH OF THE FIRST FIVE ANNIVERSARIES OF THE POLICY DATE. 1. NAME OF INSURED: MARK E. GODFREY, A SINGLE MAN 2. YOUR INTEREST IN THE LAND COVERED BY THIS POLICY IS A FEE. • 150245- DT :LW-VH • page 2 (DT 1) 3. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS: PARCEL 1: LOT 5 OF BLOCK 19, AS SHOWN ON THE MAP OF CENTRAL ADDITION, IN THE CITY OF SAN LUIS OBISPO, COUNTY. OF SAN LUIS OBISPO, STATE OF CALIFORNIA, RECORDED JULY 27, 1894 IN BOOK A, PAGE 54 OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. PARCEL 2: ALL THAT CERTAIN LOT, PIECE OR PARCEL OF LAND SITUATED IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AND BOUNDED AND DESCRIBED AS FOLLOWS, TO WIT: BEGINNING AT THE MOST SOUTHERLY CORNER OF BLOCK 19, CENTRAL ADDITION TO THE CITY OF SAN LUIS OBISPO, AS PER MAP RECORDED IN BOOK A, PAGE 54 OF MAPS IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. THENCE NORTH 400 15' WEST 139.9 FEET; THENCE NORTH 490 45' EAST 295.0 FEET TO THE TRUE POINT OF BEGINNING. THENCE RUNNING FROM SAID TRUE POINT OF BEGINNING SOUTH 400 15' EAST 87.2 FEET TO A POINT ON THE WESTERLY BOUNDARY LINE OF THE SOUTHERN .PACIFIC RAILWAY COMPANY'S RIGHT OF WAY, AS CONVEYED BY DEED RECORDED DECEMBER 29, 1890 IN BOOK 9, PAGE 583 OF DEEDS; THENCE ALONG THE SAID WESTERLY BOUNDARY LINE OF THE SOUTHERN PACIFIC COMPANY'S RIGHT OF WAY NORTH 40 01' EAST 1.21.8 FEET TO A POINT; THENCE SOUTH 490 45' WEST 85.0 FEET TO THE TRUE POINT OF BEGINNING. EXCEPT THEREFROM THAT PORTION OF SAID LAND AS CONVEYED TO SOUTHERN PACIFIC RAILWAY COMPANY, BY DEED RECORDED AUGUST 2, 1920 IN BOOK 92, PAGE 129 OF DEEDS. PARCEL 3: ALL THAT CERTAIN LOT, PIECE OR PARCEL OF LAND SITUATED, LYING AND BEING IN THE CITY OF SAN LUIS OBISPO, COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AND BOUNDED AND PARTICULARLY DESCRIBED AS FOLLOWS, TO WIT: BEGINNING AT THE EAST CORNER OF LOT 5, BLOCK 19 OF THE CENTRAL ADDITION TO THE CITY OF SAN LUIS OBISPO, AS PER MAP RECORDED IN BOOK A, PAGE 54 OF MAPS AND RUNNING THENCE NORTH 400 15' WEST 139.9 FEET; THENCE NORTH 490 45' EAST, 100 FEET; THENCE SOUTH 400 15' EAST, 87.2 FEET TO THE WESTERLY LINE OF THE RIGHT OF WAY OF THE SOUTHERN PACIFIC RAILROAD, AS CONVEYED BY DEED RECORDED DECEMBER 29, 1890 IN BOOK 9, PAGE 583 OF DEEDS; THENCE ALONG THE SAID RIGHT OF WAY LINE BY A RIGHT CURVE, SOUTHERLY 99.03 FEET; THENCE NORTH 580 34' WEST 16.3 FEET; 150245= DT -LW-VH • page 3 (DT 1) THENCE SOUTH 490451 WEST 22 FEET TO THE POINT OF BEGINNING. EXCEPT THEREFROM THAT PORTION OF SAID LAND AS CONVEYED TO SOUTHERN PACIFIC RAILWAY COMPANY BE DEED RECORDED AUGUST 2, 1920 IN BOOK 92, PAGE 129 OF DEEDS. (END OF DESCRIPTION) • SCHEDULE B EXCEPTIONS 1.50245- DT -LW -VH PAGE '4 (DTI) IN ADDITION TO THE EXCLUSIONS, YOU ARE NOT INSURED AGAINST LOSS, COSTS, ATTORNEYS' FEES AND EXPENSES RESULTING FROM: STANDARD EXCEPTIONS: (A) ANY RIGHTS, INTERESTS OR CLAIMS OF PARTIES IN POSSESSION OF THE LAND NOT SHOWN BY THE PUBLIC RECORDS. (B) ANY EASEMENTS OR LIENS NOT SHOWN BY THE PUBLIC RECORDS. THIS DOES NOT LIMIT THE LIEN COVERAGE-IN ITEM 8 OF COVERED TITLE RISKS. (C) ANY FACTS ABOUT THE LAND WHICH A CORRECT SURVEY WOULD DISCLOSE AND WHICH ARE NOT SHOWN BY THE PUBLIC RECORDS. THIS DOES NOT LIMIT THE FORCED REMOVAL COVERAGE IN ITEM 12 OF COVERED TITLE RISKS. (D) ANY WATER RIGHTS, CLAIMS OR TITLE TO WATER ON OR UNDER THE LAND. SPECIAL EXCEPTIONS: 1. A DEED OF TRUST, AND ALL TERMS THEREOF, TO SECURE AN INDEBTED- NESS OF THE.AMOUNT STATED HEREIN, DATED SEPTEMBER 19, 1985 ORIGINAL AMOUNT $88,101.50 TRUSTOR MARK E. GODFREY, A SINGLE MAN TRUSTEE TICOR TITLE INSURANCE COMPANY OF CALIFORNIA BENEFICIARY CITY OF SAN LUIS OBISPO, A MUNICIPAL CORPORATION RECORDED OCTOBER 2, 1985 IN BOOK 2756, PAGE 7 OF OFFICIAL RECORDS INSTRUMENT NO.' 56259 AND RE- RECORDED FEBRUARY 5, 1986 . IN BOOK 2798, PAGE 205 OF OFFICIAL RECORDS INSTRUMENT NO,` t 69..49,' I L• V i< w _ =s 0 (Kmwj4..4 s ssw' asrsi emu a J i OF wJ Um ZQ mJ W O LL. Z W(n �W 3 N �. Cl a aZ zo JQ 02 ic Z :_ �- U U e a ?C U I Z W 0 � �-0 j( zW �a a il Q�W U5 �aZ �� 'ova �. W J ��W 0O� NaZ IL Q�N 2ww � A a. The liability of the Company under this policy shall in no case exceed the least of: (i) the actual loss of the insured lender; or (ii) the amount of insurance stated in Schedule A, or, if applicable, the amount of insurance as defined in paragraph 2(a) hereof; or (iii)the amount of the indebtedness secured by the insured mortgage as determined under paragraphs 6(c), (f) and (g) herein, at the time the loss or damage insured against hereunder occurs, together with interest thereon. E. Subparagraph (c) of paragraph 6 (Limitation Of The Company's. Liability) is hereby deleted, and there is substituted in lieu thereof the following: c. All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto; provided, however, such payments, prior to the acquisition of title to said interest as provided in para- graph 2(a) of these Conditions, shall not reduce pro tanto the amount of the insurance afforded hereunder except to the extent that such payments reduce the amount of the indebtedness secured by the insured mortgage. F. Paragraph 6 (Limitation Of The Company's Liability). is hereby amended by adding subparagraphs (f), (g) and (h) as follows: f. Payment in full by any person or voluntary satisfaction or release of the insured mortgage shall terminate all liability of the Company except as provided in para- graph 2(a) hereof. g. The liability of the Company shall not be increased by additional principal indebted- ness created subsequent to Policy Date, except as to amounts advanced to protect the lien of the insured mortgage and secured thereby. h. If the insured lender acquires title to the interest in satisfaction of the indebtedness secured by the insured mortgage, or any part thereof, it is expressly understood that the amount.of insurance under this policy shall be reduced by any.amount the Company may pay under any policy insuring a mortgage hereafter executed by an insured lender which is a charge or lien on the interest described or referred to in Schedule A, and the amount so paid shall be deemed. a payment under this policy. The total liability of the Company under said policy and any endorsements therein shall not exceed, in the aggregate, the face amount of said policy and costs which the Company is obligated under the condi- tions thereof to pay. This endorsement is. made a part of said Policy and is subject to the schedules, exclusions and conditions therein, except as modified by the provisions hereof. IN WITNESS WHEREOF, the Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers. TICOR TITLE INSURANCE COMPANY OF CALIFORNIA 4 {S�Srt {S��L+!I:1p5�1Cyy��li3t�� /�jf v' ------ Ip - President ` By�rfi, Attest T.I. ENDORSEMENT 48'(11 -80)' Principal Office: 6 i1shire Boulevard, P. 0. Box 92792, Los Ange�California 90009 A- . Secretary