HomeMy WebLinkAboutD-1670B APN 004-523-001 and 004-523-021 - Alrita Pump Station Recorded 10/07/2005R-b ORPM REQUESTED BY:
F, RS!,kN ERICA-ti TITLE Co tilp.-� \�'
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when recorded mail to:
+ JULIE RODEWALD
San Luis Obispo? County - Clerk/Recorder
Recorded at the request of
First American Title Company
DG
10/07/2005 i
11.29 AM
( D 0 C # : '2005084829 Titles: 1
Pages: , '10
Fees
34.00
Hamner, Jewell & Associates
I
Taxes
0.00
Gov6nunent Real Estate Services
Others
0.00
340 James Way, Suite 150
PAID
$34.00
Pismo Beach, Ca 93449
12- A `
SPACE ABOVE THIS LINE FOR RECORDER'S
USE
No Documentary
Transfer Tax Per Revenue Taxation Code 11922
No fee per Govemment Code 6103
AGREEMENT AND DECLARATION
Project: City of San Luis Obispo-
Alrita Pump Station
OF SUBORDINATION
APN: 004 - 523 -021 ( Bornholdt)
Loan#908- 5302481782 MIN 100013800818196418
THIS DECLARATION is executed this 22nd day of August , 2005 b�Mortgage
Electronic Registration Systems, Inc. (lienholder/beneficiary).
. WHEREAS, *Mortgage Electronic Registration Systems, Inc. is the current holder of the beneficial
interest under that certain deed of trust dated May 8, 2003, executed by Kenneth Charles Bornholdt and Helen
Hudson Bornholdt, Trustees under the Kenneth and Helen Bornholdt Trust Dated October 19, 2001 (trustor),
securing an indebtedness in the original amount of $677,000.00, recorded on May 20, 2003, as
Instrument /Document No. 03 -53771 of Official Records of San Luis Obispo County. Said deed of trust
encumbers the Real Property described as follows:
See Exhibit 1, attached'-hereto and incorporated by reference herein
WHEREAS, a portion of said Real Property is encumbered or to be encumbered by an easement for
water pump station purposes, by way of a Pump Station Easement Deed executed by the current owners of the
Real Property, dated May 16, 2005, in favor of the City of San Luis Obispo, a copy of which is attached hereto
as Exhibit 2, and incorporated by reference herein.
- WHEREAS, it,is the intent of*N4ortgage Electronic Registration Systems, Inc. (beneficiary), as owner
and holder of the above- mentioned deed of trust, that said deed of trust be and remain a lien and charge upon the
subject property second and subordinate to the burden and charge created by the above - mentioned easement in
favo of the City of San Luis Obispo..
NOW, THEREFORE, the undersigned* Mortgage Electronic Registration Systems, Inc. (beneficiary) in
consideration of the benefits accruing and other valuable consideration, does hereby subordinate the lien of said
deed of trust above mentioned to the burden and charge of the easement in favor of the City of San L,:,is ObispiD. -
Page I of 2
L�
+1
Loan #908- 5302481782
In all other respects the terms and conditions of said deed of trust are intended to remain unchan ged and
are not intended to be modified hereby.
IN WITNESS WHEREOF, the undersigned have executed this instrument as of the 22nd day of
August , 2005.
State of Wisconsin
County of Milwaukee
On August 22, 2005
Mortgage Electronic Registration Systems, Inc. , ;
as nominee for GreenPoint Mortgage Funding, Inc.
5;julie 6 hern
Title: Asst. Secretary
before me, Galina Shklover personally
appeared Julie Mulhern , personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is /are subscribed to the within instrument and acknowledged to me that he /she /they
executed the same in his/her /their authorized capacity(ies), and that by his/her /their signatures(s) on the instrument the person(s), or the
entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal
Signature (Seal)
Galina Shklover
r
GAALWA SHKLOVER
NOT>1RY PUBIJC STAY OF WIN
Page 2 of 2
• Order Numbe•001- 1268450
I Page Number: 6
LEGAL DESCRIPTION
Loan #908- 5302481782
Real property in the City of San Luis Obispo, County of San Luis Obispo, State of California,
described as follows!
A PORTION OF PARCEL A AND PARCEL B OF PARCEL MAP SL -84 -285 IN THE CITY OF SAN LUIS
OBISPO, IN THE COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AS SHOWN ON THE
MAP FILED IN BOOK 48, PAGE 36 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID PARCEL A, THENCE ALONG THE EASTERLY
RIGHT OF WAY OF LAURELL LANE, AS SHOWN ON SAID MAP, SOUTH 32 °39'00" WEST, 184.04
FEET TO A 1" IRON PIPE TAGGED "LS 4819" THENCE SOUTH 53014'56" EAST, 210.07 FEET TO
A 1" IRON PIPE TAGGED "LS 4819 "; THENCE NORTH 39 °20'29" EAST, 62.28 FEET TO A 1" IRON
PIPE TAGGED "LS 4819'; THENCE SOUTH 50 °39'31" EAST, 74.90 FEET TO A POINT ON THE
EASTERLY LINE OF SAID PARCEL B; THENCE ALONG SAID EASTERLY LINE, NORTH 27 °46'00"
EAST, 171.88 FEET TO THE NORTHEAST CORNER OF SAID PARCEL B; THENCE ALONG THE
NORTHERLY LINES OF PARCELS A AND B NORTH 62 °35'00" WEST, 277.71 FEET TO THE POINT
OF BEGINNING.
APN: 004 - 523 -021
EXHIBIT !
First American Tit /e
E
Recording requested by:
Hamner, Jewell & Associates
Government Real Estate Services
When recorded, mail to:
The City of San Luis Obispo
Utilities Department
879 Morro Street
San Luis Obispo, CA 93401
0
No fee per Government Code 6103
PUMP STATION EASEMENT DEED
(To The City of San Luis Obispo)
No Documentary Transfer Tax per Revenue Taxation Code 11922
APN: A.P. No. 004 -523 -021 (SLO County)
For a valuable consideration, receipt of which is hereby acknowledged,
KENNETH CHARLES BORNHOLDT AND HELEN HUDSON BORNHOLDT, TRUSTEES
OF THE KENNETH AND HELEN BORNHOLDT TRUST DATED OCTOBER 19, 2001,
( "Grantor ")
hereby grants to:
CITY OF SAN LUIS OBISPO, a chartered municipal corporation ( "CITY ")
A Permanent Exclusive Easement for the construction, operation, maintenance, repair, and
replacement of a water pump station and related appurtenances, including associated utilities,
pipelines, and related facilities, and ingress and egress rights associated therewith, and for no other
purposes. Vehicular access to the Easement Area shall be solely from Laurel Lane. This permanent
easement shall be in, over; on, along, through, within, under, and across the Permanent Easement Area
of the Real Property as defined in this paragraph. The "Real Property" is in the City of San Luis
Obispo, County of San Luis Obispo, State of California and is described in Exhibit "A" attached hereto
and incorporated by reference herein. The "Easement Area" which comprises the Permanent
Exclusive Easement is described and depicted in Exhibit "B" attached hereto and incorporated by
reference herein.
The Permanent Easement described herein shall be SUBJECT TO THE FOLLOWING TERMS AND
CONDITIONS:
1/3 XWLA
P5 `i
The facilities and trovements installed in the Pennanen0asement area collectively are
referred to herein as "Pump Station Facilities." The location of all structures on the surface of the
Easement Area are shown generally on the site plan attached hereto as Exhibit "C" which is
incorporated herein by reference. Grantor acknowledges that minor variations from the site plan may
be necessary, e.g. slightly larger or smaller building structure, location of hydro pneumatic tanks may
vary by a few feet, since at the time of entering into this Pump Station Easement Deed the final design
of the Pump Station Facilities is not complete. No structure on the Easement Area shall exceed 14 feet
in height from the existing grade. Plans for the Pump Station Facilities as they exist from time to time
shall be maintained at the City's principal, offices. City shall endeavor to ensure pump noises from the
Easement Area are not audible to Grantor's existing residence. In no event shall pump noises audible
from Grantor's existing residence exceed the applicable maximum levels specified in Chapter 9.12
(Noise Control) of the San Luis Obispo Municipal Code. All structures in the Easement Area shall be
a neutral color that blends with the existing surrounding vegetation on Grantor's property.
2. The City shall have and hold all rights to the exclusive use of the Permanent Easement Area.
The City may restrict the rights of others to enter the Permanent Easement Area and shall, at its sole
cost and expense, erect and maintain perimeter fencing of like kind to Grantor's fencing around the
Permanent Easement Area and maintain locked gates in order to protect the Pump Station Facilities
and prohibit access and use by others.
3. Subsequent to the grant of this Easement, Grantor shall not grant any easements of any kind
whatsoever to others in, over, on, through, within, under and across the Permanent Easement Area
without the prior written consent of the City, which consent shall not be unreasonable withheld.
4. Grantor shall not conduct, dr permit others to conduct, grading operations, ripping,
stockpiling, or use, or permit others to use, explosives within or proximate to the Permanent Easement
Area to the extent that the Pump Station Facilities may be damaged.
The covenants and conditions of this Easement Deed shall run with the land and shall be binding on the
successors and assigns of the Grantor and City and shall inure to the benefit of City and its successors
and assigns.
Executed this klk�lay of , 2005.
Date: U
Notary acknowledgement on next page.
GRANTOR:
KENNETH CHARLES BORNHOLDT AND HELEN
HUDSON BORNHOLDT, TRUSTEES OF THE KENNETH
AND OLDT T U T DATED OCTOBER
19 001 _ /
to
2/3
rles Bornholdt, Trustee
elen Hu ornholdt, Trustee
fB/7' Z
z ob-,
State of California •
County of
San Luis Obispo
0
On May 16, 2005 before me, B. Hogan,Notary Public
Kenneth Charles Bornholdt and
personally appeared Helen Hudson Bornholdt------------ ipr��rya�ly/
1kf4 A1d rUXdr proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) isfare
subscribed to the within instrument and acknowledged to me that bet4ie /they executed the same in Ls/4er /their
authorized capacity(ies), and that by hjs /lwf /their signatures(s) on the instrument the person(s), or the entity
upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal
Signature
eMB. HOGAN
COM M, # 1307261 Notary Public -California (Seal); County of San Luis Obispo N y Comm. Exp. June 25, 2005
The foregoing Easement Deed from KENNETH CHARLES BORNHOLDT AND HELEN HUDSON
BORNHOLDT, TRUSTEES OF THE KENNETH AND HELEN BORNHOLDT TRUST DATED
OCTOBER 19, 2001, to the CITY OF SAN LUIS OBISPO, a chartered municipal corporation ( "CITY ")
is hereby:
APPROV AS TO CONTENT:
By /it--
kilities Department
ity of San Luis Obispo
APPROVED AS TO FORM:
B
Jonathan Lowell
City Attorney
City of San Luis Obispo
CERTIFICATE OF ACCEPTANCE, GOVERNMENT CODE SECTION 2781
This is to certify that the CITY OF SAN LUIS OBISPO, a chartered municipal corporation ( "CITY "),
grantee herein, hereby accepts for public purposes the real property, or interest therein, described in the
foregoing deed dated lt-(a l to , 2005, from KENNETH CHARLES
BORNHOLDT AND HELEN HUDSON BORNHOLDT, TRUSTEES OF THE KENNETH AND
HELEN BORNHOLDT TRUST DATED OCTOBER 19, 2001, grantee therein, and consents to the
recordation thereof.
In Witness Whereof, I have hereunto set my hand this & day of J"Ap , 2005.
CITY OF SAN LUIS OBISPO, a chartered municipal corporation
by
•
Name: .David erne ro
Title: �/vr
ATTEST: 1 '
City Clerk
3/3 crif LL
?Aje 3 Oh 7
FEB. ) : 51 ; PAGE 7/21
ITPage Number: 40Q7- 1288430
LEGAL DESCRIPTION
Real prq*rty In the Clty Of SAN LUIS OBISPO, County of SAN LUIS OBISPO, State of Callfornla
described as follows: ,
PARCEL 1:
LOT I IN BLOCK C OF TRACT NO. 166, ROYAL HEIGHTS, IN THE CITY OF SAN LUIS OBISPO, IN
THE COUNTY OF S4N LUIS OBISPO, STATE OF CALIFORNIA, ACCORDING TO MAP RECORDED
MAY 11, 1961 IN BOOK 6, PAGt 55 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY.
PARCEL 2:
A PORTION OF PARCEL A AND PARCEL a OF PARCEL MAP SL -84285 IN THE CITY OF SAN LUIS
08LSP0, IN THE COUNTY OF SAN LUIS OBISPO, STATE OF CALIFORNIA, AS SHOWN ON THE
MAP FILED IN BOOK 48, PAGE 36 OF PARCEL MAPS, IN THE OFFICE OF THE COUNTY
RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS: '
BEGINNING AT THE NORTHWEST CORNER OF SAID PARCEL A, THENCE ALONG THE EASTERLY
RIGHT OF WAY OF LAURELL LANE, AS SHOWN ON SAID MAP, SOUTH 32 039'00" WEST, 184.04
FEET TO A 1" IRON PIPE TAGGED "LS 4819" THENCE SOUTH 53 014'56' EAST, 210.07 FEET TO
A 1" IRON PIPE TAGGED "LS 4819"; THENCE NORTH 39020'29" EAST, 62.28 FEET TO A in IRON
PIPE TAGGED "LS 4819. THENCE SOUTH 50039'31' EAST, 74.90 FEET TO A POINT ON THE
EASTERLY LINE OF SAID PARCEL B; THENCE ALONG SAID EASTERLY LINE, NORTH 27 °4600"
EAST, 171.88 FEET TO THE NORTHEAST CORNER OF SAID PARCEL 8; THENCE ALONG THE
NORTHERLY LINES OF PARCELS A AND 8 NORTH 62 03500" WEST, 277,71 FEET TO THE POINT
OF BEGINNING.
AM 004- 523-001 and 00452.3 -021
Ciro -I A...u.- ..,... 70*J-
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Exhibit
Legal Description SLO -04 -01
Alrita Pump Station Easement
City of San Luis Obispo
A parcel of land lying within Parcel A of Parcel Map SL -84 -285 filed in Book 40 of Parcel Maps at
Page 36, City of San Luis Obispo, State of California, more particularly described as follows:
The True Point of Beginning being the Northwesterly corner of said Parcel A. Said point also being a
point on the Southeasterly right -of -way line of Laurel Lane, thence;
1) South 62 °35'00" East along the Northerly line of said Parcel A, also being the southerly
boundary of Parcel 1 of Tract No. 166 as recorded in Book 6 of Maps at Page 55, City of
San Luis Obispo, State of California_, a distance of 9.144M (30.00 feet), thence;
2) Departing said Northerly line South 32 °39'00" West, a distance of 5.435M (17.83 feet),
thence;
3) North 57 °21'00" West a distance of 9.106M (29.88 feet), to a point on -said Easterly right -of-
way line of Laurel Lane, thence;
4) North 32 °39'00" East along said Easterly right -of -way, a distance of 4.601M (15.10 feet), to
the True Point of Beginning.
Containing 45.69 square meters (491.8 square feet, 0.01 acres).
EXMr 1 B
(Page 1 of 2)
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EXP. 12 -31 -05
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CITY OF SAN LUIS OBISPO
DATE- EASEMENT SLO-04 -01
- NOV. 2004
EXHIBIT B (Page 2 of 2)
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END OF DOCUMENT
(slo /Alrita uinp sta /BornholdURW Agreement)
(04/20/05)
PARCEL NO.: 004 -523 -021 (San Luis Obispo County)
PROJECT: City of San Luis Obispo — Alrita Pump Station
TITLE REPORT NO.: 4001- 1268450, First American Title Company
ESCROW NO.:
RIGHT OF WAY AGREEMENT
(WITH ESCROW INSTRUCTIONS)
THIS AGREEMENT is made and entered into by and between
and
Kenneth Charles Bornholdt and Helen Hudson Bornholdt, Trustees of the Kenneth
and Helen Bornholdt Trust dated October 19, 2001, hereinafter called "Grantor,"
The City of San Luis Obispo, a Chartered Municipal Corporation, hereinafter called
"Cit "
Y•
An Easement Deed covering the property rights particularly described therein, has been
executed concurrently with this Agreement and delivered to City representatives.
In consideration of which, and other considerations hereinafter set forth, it is mutually
agreed as follows:
1. The parties have herein set forth the whole of their agreement. The performance of
this Agreement constitutes the entire consideration for said Easement Deed and shall relieve the
City of all further obligation of claims on this account, or on account of the location, grade or
construction of the proposed public improvement (hereinafter referred to as the "Project ").
2. The City shall, at its sole cost and expense, do the following:
A. PAYMENT - Pay to the order of the Grantor the sum of Twelve Thousand Five
Hundred Dollars ($12,500), as consideration in full for the real property interests being conveyed
in the referenced Easement Deed, for the loss, replacement and moving of -any improvements,
and for entering into this Agreement. Said sum shall be paid upon the close of escrow, which
shall occur when title to said real property interests has vested in City free and clear of all liens,
encumbrances, assessments, easements and leases, recorded or unrecorded, except for recorded
public utility easements and public rights of way.
B. MISCELLANEOUS COSTS - Pay all escrow, title insurance, trust deed subordination
fees, documentary transfer taxes, if any, and recording fees incurred in this transaction, together
with any costs related thereto.
C. CLEARANCE OF BONDS, ASSESSMENTS,
the authority to deduct and pay from the amount shown
(slo /Alrita Pump Sta /Bornholdt/RW Agreement)
(04/20/05)
TAXES - Have
Clause 2.A. above any amount
necessary to satisfy any bonds, demands, delinquent taxes', due, together with penalties and
interest thereon, and/or delinquent and unpaid non - delinquent assessments which have become a
lien at the close of escrow. City approves of the exceptions on title shown on the preliminary
title report dated as of December 10, 2003, for the subject property except for the deed of trust
shown as exception number 12, for which the City will obtain a subordination from the lender.
City shall pay any and all processing, issuance, and recording fees associated with obtaining said
subordination.
D. INDEMNIFICATION - Indemnify, and hold harmless Grantor from any and all
claims, damages, costs, judgments, or liability caused by City or its officers, employees or agents
specifically arising from City's Project construction and restoration work on Grantor's property
or as a direct result of City's operation of City facilities on Grantor's property.
E. RECORDATION OF INSTRUMENT - Accept the Easement Deed herein referenced
and cause the same to be recorded in the office of the San Luis Obispo County Recorder at such
time as when clear title can be conveyed to the City.
F. FENCING — Prior to the operation of the Pump Station Facilities described in the
Easement Deed, the City shall relocate or replace with like kind fencing the fencing that is
currently along the perimeter of Grantor's property in the Easement Area, moving said fencing to
the new easement lines, and connecting same to Grantor's standing fence posts at both ends.
City understands and agrees that a portion of Grantor's fence on the northerly boundary line next
to the Easement Area has collapsed and that it will be replaced by the City.
3. The Grantor:
A. PAYMENT ON MORTGAGE OR DEED OF TRUST - Agrees that any or all monies
payable under this Agreement up to and including the total amount of the unpaid principal and
interest on the note(s) secured by mortgage(s) or deed(s) of trust, if any, and all other amounts
due and payable in accordance with the terms and conditions of said mortgage(s) or deed(s) of
trust, shall upon demand(s) be made payable to the mortgagee(s) or beneficiary(s) legally entitled
thereunder.
B. LEASE INDEMNIFICATION - Warrants there are no oral or written leases on all or
any portion of the Easement Area described in the referenced Easement Deed, or if there are any
such leases, Grantor agrees to hold the City harmless and reimburse City for any and all of its
losses and expenses occasioned by reason of any lease of said property held by tenant of Grantor.
C. PERMISSION TO ENTER - Hereby grants to the City, its agents and contractors,
permission to enter upon the Easement Area described in the referenced Easement Deed prior to
the close of escrow for the purposes of preparation for and construction of the City's facilities,
subject to all applicable terms and conditions contained in this Agreement and the associated
Easement Deed. The rights granted herein include authorization to conduct pre - construction
surveys and soil sampling and testing, as well as the right to commence Project construction:
2/5
}
(slo /Alrita Rmp Sta/Bomholdt/RW Agreement)
(04/20/05)
4. The Parties agree:
i
A. ESCROW - To open an escrow in accordance with this Agreement with First
American Title Company in San Luis Obispo, California, promptly after Grantor's execution of
this Agreement. This Agreement constitutes the joint escrow instructions of City and Grantor,
and Escrow Agent to whom these instructions are delivered is hereby empowered to act under
this Agreement. The parties hereto agree to do all acts necessary to close this escrow in the
shortest possible time.
As soon as possible after opening of escrow, within 45 days or sooner, City will deposit
the executed Deed by Grantor, with Certificate of Acceptance attached, with Escrow Agent on
Grantor's behalf. City agrees to deposit the purchase price promptly upon demand of Escrow
Agent. City and Grantor agree to deposit with Escrow Agent all additional instruments as may
be necessary to complete this transaction. All funds received in this escrow shall be deposited
with other escrow funds in a general escrow fund account(s) and may be transferred to any other
such escrow trust account in any State or National Bank doing business in the State of California.
All disbursements shall be made by check from such account.
Any taxes which have been paid by Grantor, prior to opening of this escrow, shall not be
pro -rated between City and Grantor, but Grantor shall have the sole right after close of escrow, to
apply to the County Tax Collector of said County for any refund of such taxes which may be due
Grantor for the period after the Easement Deed is accepted by the City.
i) ESCROW AGENT DIRECTIVES - Escrow Agent is authorized to, and shall:
a) Except for the matters approved in Section 2.0 above, pay and charge Grantor
for any unpaid delinquent taxes and /or any penalties and interest thereon, and
for any delinquent assessments or bonds against that portion of Grantor's Land
subject to this transaction as required to convey clear title.
b) Pay and charge City for any escrow fees, charges and costs payable under
paragraph 2.B. of this Agreement.
c) Disburse the purchase price to Grantor and deliver Deed when conditions of
this escrow have been fulfilled by City and Grantor.
d) Following recording of Deed from Grantor, provide City with a CLTA
Standard Coverage Policy of Title Insurance in the amount of $12,500 issued
by First American Title Company, showing that title to the herein referenced
easements is vested in City, subject only to the following exceptions, and the
printed exceptions and stipulations in said policy:
1) Real Property Taxes for the fiscal year in which escrow closes;
2) Public utility easements and public rights of way;
3/5
(slo /Alritffi.p Sta/Bomholdt/RW Agreement)
(04/20/05)
3) Other items that may be approved by City in writing in advance of the
close of escrow
ii) CLOSE OF ESCROW - The term "close of escrow ", if and where written in these
instructions, shall mean the date necessary instruments of conveyance are
recorded in the office of the County Recorder. Recordation of instruments
delivered through this escrow is hereby authorized.
TIME IS OF THE ESSENCE IN THESE INSTRUCTIONS AND ESCROW
IS TO CLOSE AS SOON AS POSSIBLE. If this escrow is not in condition to
close within 90 days of the date this Agreement is fully executed by the Grantor,
any party who then shall have fully complied with his instructions may, in writing,
demand the return of his money or Property; but if none have complied no
demand for return thereof shall be recognized until five (5) days after Escrow
Agent shall have mailed copies of such demand to all other parties at their
respective addresses shown in these escrow instructions, and if any objections are
raised within said five (5) day period, Escrow Agent is authorized to hold all
papers or documents until instructed by a court of competent jurisdiction or
mutual instructions. If no demands are made, proceed with closing this escrow as
soon as possible.
B. ARTICLE HEADINGS - Article headings in this Agreement are for convenience only
and are not intended to be used in interpreting or construing the terms, covenants and conditions
of this Agreement.
C. SUCCESSORS AND ASSIGNS - This Agreement shall apply to and bind the heirs,
executors, administrators, assigns and successors of the parties hereto
D. COUNTERPARTS - This agreement may be executed in counterparts, each of which
so executed shall irrespective of the date of its execution and delivery be deemed original, and
all such counterparts together shall constitute one and the same instrument.
E. COMPLETE UNDERSTANDING - This Agreement constitutes the entire
understanding between the parties with respect to the subject matter hereof, superseding all
negotiations, prior discussions, and preliminary agreements or understandings, written or oral.
This Agreement may not be amended except in writing by the parties hereto or their successors
or assigns.
F. CITY COUNCIL APPROVAL - This Agreement is subject to and conditioned upon
approval and ratification by the City Council of the City of San Luis Obispo. This Agreement is
not binding upon the City until executed by the appropriate City official(s) acting in their
authorized capacity.
No Obligation Other Than Those Set Forth Herein Will Be Recognized.
Signatures follow on next page...
4/5
• (slo /Alrita Pump Sta /BomhoId Agreement)
(04/20/05)
Date: �, 0 , 2005
GRANTOR:
KENNETH CHARLES BORNHOLDT AND
HELEN HUDSON BORNHOLDT, TRUSTEES
UNDER THE KENNETH AND HELEN
BORNHOLDT TRUST DATED OCTOBER 19,
Date: , 2005. i
Helen Hudson o oldt, Trustee
MAILING ADDRESS OF GRANTOR:
1303 Higuera Street
San Luis Obispo, CA 93401
Date: L' I q _ , 2005
MAILING ADDRESS OF CITY:
City of San Luis Obispo
955 Morro Street
San Luis Obispo, CA 93401
CITY:
CITY OF SAN LUIS OBISPO
A Chartered Municipal Corporation
515
APPROVED AS TO FORM:
HAN P. LOWELL
City Attomey
r
CEUV .^ `Y
S Z P M E q/
First American
Title Transmittal
Dated: November 18, 2005
City of San Luis Obispo c/o Lillian D Jewell, Attorney
340 James Way, Ste. 150
Pismo Beach, CA, 93448
Loan #
RE: 4009 1268450
City of San Luis Obispo
Easement for Pump Site
San Luis Obispo CA 93401
Please find enclosed Policy of Title Insurance
Nick Peters
Title Officer
899 Pacific Street. San Luis Obispo, California 93401
TEL: (805)543 -8900 FAX:. (805)546 -9868
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Form No. 1402.92,(10/17/92)
ALTA Standard Owner's Policy
Western Regional Exceptions
Order Number: 4009-
1268450
Page Number: 1
Policy of Title Insurance
A Jf F k f }'1
C i•
ISSUED BY
First American Title Insurance Company
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CO_ NDITIONS AND
STIPULATIONS, FIRST AMERICAN TITLE INSURANCE' COMPANY, a California corporation, herein called the Company, insures, as of Date of Policy
shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by
reason of:
1. Title to the estate or interest described in Schedule.A being vested other than as stated therein;
Z. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4.• Lack of a right of access to and from the; land.
The Company will also pay the costs, attomeys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the
Conditions and Stipulations.
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first American Title
Form No. 1402.92 (10/17/92)
ALTA Standard Owner's Policy
Western Regional Exceptions
0
SCHEDULE A
Premium:
$180.00
Amount of Insurance: $12,500.00
Date of Policy: October 07, 2005 at 11:29 A.M.
1. Name of insured:
City of San Luis Obispo, a chartered municipal corporation
Order Number: 4009 -
1268450
Page Number: 2
Policy Number: 4009-1268450
2. The estate or interest. in the land which is covered by this policy is:
An easement.
3. Title to the estate or interest in the land is vested in:
City of San Luis Obispo, a chartered municipal corporation
4. The land referred to in this policy is described as follows:
Real property in the City of San Luis Obispo, County of San Luis Obispo, State of California,
described as follows:
An easement for water pump station described as follows:
A parcel of land lying within Parcel A of Parcel Map SL -84 -285 filed in Book 40 of Parcel Maps at
Page 36, City of San Luis Obispo, State of California, more particularly described as follows:
The True Point of Beginning being the Northwesterly corner of said Parcel A. Said point also
being a point on the Southeasterly right -of -way line of Laurel Lane, thence;
1) South 62035'00" East along the Northerly line of said Parcel A, also being the southerly
boundary of Parcel l of Tract No. 166 as recorded in Book 6 of Maps at Page 55, City of San Luis
Obispo, State of California, a distance of 9.144M (30.00 feet), thence;
2) Departing said Northerly line South 32o39'00" West, a distance of 5.435M (17.83 feet),
thence;
3) North 57021'00" West a distance of 9.106M (29.88 feet), to a point on said Easterly right -of.-
way line of Laurel Lane, thence;
4) North 32o39'00" East along said Easterly right -of -way, a distance of 4.601M (15.10 feet), to
First American Title
Form No. 1402.92 (10/17/92)
ALTA Standard Owner's Policy
Western Regional Exceptions
the True Point of Beginning.
Containing 45.69 square meters (491.8 square feet, 0.01'acres).
APN: 004 - 523 -021
First American Title
Order Number: 4009-
1268450
Page Number 3
. •
Form No. 1402.92 (10/17/92) Order Number: 4009-
1268450
.ALTA Standard Owner's Policy Page Number: 4
Western Regional-Exceptions
SCHEDULE B
EXCEPTIONS FROM COVERAGE
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees
or expenses) which arise by reason of:
PART ONE
SECTION 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.
2. Any facts, rights, interests, or claims which are not shown by the public records but which could
be ascertained by an inspection of said land or by making inquiry of persons in possession
thereof.
3. Easements, claims of easement or encumbrances 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 public records.
5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the
issuance thereof; water rights, claims or title to water.
6. Any lien, or right to a lien, for services, labor or material heretofore or hereafter furnished,
imposed by law and not shown by the public records.
SECTION TWO
1. The effect of a map purporting to show the land and other property, filed NOVEMBER 29, 1983
IN BOOK 46 PAGE 20 of Record of Surveys.
2. An easement for DRAINAGE, CREEK PURPOSES, AND THE MAINTENANCE THEREOF and
incidental purposes, recorded NOVEMBER 6, 1986 as BOOK 2909 PAGE 414 of Official Records.
In Favor of: THE CITY OF SAN LUIS OBISPO
Affects: THE LAND
3. Any and all offers of dedication, conditions, restrictions, easements, fencellne /boundary
discrepancies, notes and /or provisions shown or disclosed by the filed or recorded map referred
to in the legal description.
4. A public easement for navigation and the incidents of navigation such as boating, fishing, .
swimming, hunting and other recreational uses in and under the UNNAMED CREEK and including
a public right of access to the water.
FirstAmerican Title
f
Form No. 1402.92 (10/17/92) Order Number:, 4009-
1268450
ALTA Standard Owner's Policy Page. Number: 5
Western Regional Exceptions
5. A deed of trust to secure an original indebtedness of $200,000.00 recorded August 4,
2005 as-Inst. No. 2005064616 of Official Records.
Dated: June 24, 2005
Trustor: Kenneth C Bornholdt also known as Kenneth Charles Bornholdt
and Helen Hudson Bornholdt, trustees under the Kenneth and
Helen Bornholdt Trust October 19, 2001
Trustee: American Securities Company
Beneficiary: Wells Fargo Bank, N.A.
A document recorded October 07, 2005 as Instrument No. 2005- 084829 of Official Records -
provides that the lien or charge of the deed of trust was subordinated to the lien or charge of the
deed of trust recorded October 07, 2005 as of Official Records.
The map attached, if any, may or may not be a survey of the land depicted hereon. First American
expressly disclaims any liability for loss or damage which may result from reliance on this map except to
the extent coverage for such loss or damage is expressly provided by the terms and provisions of the title
insurance policy, if any, to which this map is attached.
First American Title
Form No. 1402.92 (10/17/92) •
ALTA Standard Owner's Policy
Western Regional Exceptions
EXCLUSIONS FROM COVERAGE
Order Number: 4009-
1268450
Page Number: 6
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or
expenses which arise by reason of:
1.(a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations_) restricting,
regulating, prohibiting or relating to
(i) the occupancy, use, or enjoyment of the land;
(ii) the character, dimensions or location of any improvement now or hereafter erected on the land;
(iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or
(iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of
the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded
in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or
encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from
coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge.
3. Defects, liens, encumbrances, adverse claims, or other matters:
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to .
the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(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 paid value for the estate or interest insured by this
policy.
4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of
federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or
(ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer
results from the failure:
(a) to timely record the instrument of transfer; or
(b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS.
The following terms when used in this policy mean:
(a) "insured ": the insured named in Schedule A, and, subject to any rights or defenses the Company would have had against the named insuredi those
who succeed to the interest of the named insured 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.
(b) "insured claimant ": an insured claiming loss or damage.
(c) "knowledge" or "known ": actual knowledge, not constructive knowledge or notice which may imputed to an insured by reason of any public .
records as defined in this policy or any other records which impart constructive notice of matters affecting the land.
(d) "land ": the land described or referred to in Schedule (A), and improvements affixed thereto which by law constitute real property. The term "land"
does not include any property beyond the lines of the area described or referred to in Schedule (A), nor any right, title, interest, estate or easement in
abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and
from the land is insured by this policy.
(e) "mortgage ": mortgage, deed of trust, trust deed, or other security instrument.
(f) "public records ": records established under state statutes at. Date of Policy for the purpose of imparting constructive. notice of matters relating to real
property to purchasers for value and without knowledge. With respect to Section 1(a)(iv) of the Exclusions from Coverage, "public records" shall also
include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located.
(g) "unmarketability of the title ": an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would
entitle-a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition
requiring the delivery of marketable title.
2. 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 only so long as the insured retains an estate or interest in
the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall
have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not
continue in force in favor of any purchaser from the insured of either
(i) an estate or interest in the land, or
(ii) an indebtedness secured by a purchase money mortgage given to an insured.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
First American Title
Form No. 1402.92 (10/17/92) •
ALTA Standard Owner's Policy
Western Regional Exceptions
0
Order Number: 4009-
1268450
Page Number: 7
The insured shall notify the Company promptly in writing
(i) in case of any litigation as set forth in Section 4(a) below,
(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, 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, an insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured
all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to
notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then
only to the extent of the prejudice.
4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE.
(a) Upon written request by the insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own
cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title
or interest as insured but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy.
The Company shall have the. right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the
insured as to those stated causes of action and shall not be liable for and will not pay the fees of any other counsel. The Company will not pay any
fees, costs or expenses incurred by an insured in the defense of those causes of action which allege matters not insured against by this policy.
(b) The Company shall have the right, at its own cost, to institute and 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, as insured, or to prevent or reduce loss or damage to an insured. The
Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede
liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently.
(b) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the
Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to
appeal from any adverse judgment or order.
(c)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 shall
secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to
use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give
the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or
proceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the
title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company's
obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with
regard to the matter or matters requiring such cooperation.
S. PROOF OF LOSS OR DAMAGE.
In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or
damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the
facts giving rise to the loss or damage. The 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 damage and shall state, to the extent possible, the basis of calculating the amount
of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the
Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or contin ue any
litigation, wi th regard to the matter or matters requiring such proof of loss or damage.
In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representat ive of the Company
and shall produce for examination, inspectionand copying, at.such reasonable times and places as may be designated by any authorized representative
of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which
reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall grant its
permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks,
correspondence and memoranda in the custody or contro I of a third party, which reasonably pertain to the loss or damage. All information designated
as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable
judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath,
produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this
paragraph shall terminate any liability of the Company under this policy as to that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY.
In case of a claim under this policy, the Company shall have the following additional options:
(a) To Pay or Tender Payment of the Amount of Insurance.
To pay or tender payment of the amount of insurance under this policy together with any costs, attorneys' fees and expenses incurred by the insured
claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay.
Upon the exercise by the Company of this option, all liability and obligations to insured under this policy, other than to make the payment required,
shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company
for cancellation.
(b) To Pay or Otherwise. Settle With Panties Other than the Insured or With the Insured Claimant.
(i) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any
costs, attorneys' fees and expenses incurred by the insured claimant which were autho rized by the Company up to the time of payment and which the
Company is obligated to pay; or
(ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and
expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to
pay.
Upon the exercise by the Company of either of the options provided for in paragraphs (b) (i) or (ii), the Company's obligations to the insured under this
policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend,
prosecute or continue any litigation.
7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE.
First American Title
i
Form No. 1402.92 (10/17/92) Order Number: 4009-
1268450
ALTA Standard Owner's Policy I Page Number: 8
Western Regional Exceptions
This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or
damage by reason of matters insured against by this policy and only to the extent herein described.
(a) The liability of the Company under this policy shall not exceed the least of:
(i) the Amount of Insurance stated in Schedule A; or,
(ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect,
lien or encumbrance insured against by this policy.
(b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or
interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Polity an improvement is erected on the land which
increases the value of the insured estate or interest by at least. 20 percent over the Amount of Insurance. stated in Schedule A, then this Policy is
subject to the following:
(i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the
amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (ii) where a subsequent
improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of
Insurance stated in Sch edule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement.
The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this polity, and shall only
apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A.
(c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations.
B. APPORTIONMENT..
If the land described in Schedule (A)(C) consists of two or more parcels which are not used as a single site, and a loss is established affecting one or
more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided
pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy,
unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy
and shown by an express statement or by an endorsement attached to this policy.
9. LIMITATION OF LIABILITY.
(a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land,
or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any.method, including litigation and the completion of
any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused
thereby.
(b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or
damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the tide as
insured.
(c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit
without the prior written consent of the Company.
10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY.
All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto.
11. LIABILITY NONCUMULATIVE.
It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any polity
insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter
executed by an insured and 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 to the insured owner.
12. PAYMENT OF LOSS.
(a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which
case proof of loss or destruction shall be furnished to the satisfaction of the Company.
(b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage
shall be payable within 30 days thereafter.
13. SUBROGATION UPON PAYMENT OR SETTLEMENT.
(a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of
the insured claimant.
The Company shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or
property in respect to the claim had this policy not been issued. If requested by. the Company, the insured claimant shall transfer to the Company all
rights and remedies against any person or property necessary in order to perfect this right of subrogation: The insured claimant shall permit the
Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation
involving these rights or remedies.
If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and remedies
in the proportion which the Company's payment bears to the whole amount of the loss.
If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be
required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the
impairment by the insured claimant of the Company's right of subrogation.
(b) The Company's Rights Against Non - insured Obligors.
The Company's right of subrogation against non - insured obligors shall exist and shall include, without limitation, the rights of the insured to
indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which.provide for
subrogation rights by reason of this policy.
14. ARBITRATION.
FirstAmerican Title
Form No. 1402.92 (10/17/92) Order Number: 4009 -
1268450
ALTA Standard Owner's Policy Page Number: 9
Western Regional Exceptions
i
I
i
i
Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the
American Arbitration Association: Arbitrable matters may include; but are not limited to, any controversy or claim between the Company and the
insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other
obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the
insured. All arbitrable matters when the Amount.of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company
and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the
insured, the Rules in effect at Date of Policy shall be binding upon the panties. The award may include attorneys' fees only if the laws of the state in
which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be
entered in any court having jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules.
A copy of the Rules may be obtained from the Company upon request.
15. LIABILITY LIMITED TO THIS POLICY; ,POLICY ENTIRE CONTRACT.
(a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the
Company. In interpreting any provision of this policy, this policy shall be construed as a whole.
(b) Any claim of loss or damage, whether or not:based on negligence, and which arises out of the status of the title to the estate or interest covered
hereby or by any action asserting such claim, shall be restricted to this policy.
(c) No amendment of or endorsement to this policy can be. made except by a 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.
16. SEVERABILITY.
In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision
and all other provisions shall remain in full force and effect..
17. NOTICES, WHERE SENT.
All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy
and shall be addressed to the Company at 1 First American Way, Santa Ana, California 92707, or to the office which issued this policy.
First American Title