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HomeMy WebLinkAboutD-735 Monterey Street Realignment Recorded 07/12/1967J Recording Requested By And when Recorded Mail To RENETZKY & MURPHY Attorneys at Law 911 Palm Street San Luis Obispo, California W r Affix I © 11 1 II I 1 iY� 1 J-3298 �7att-rr.�n.ri R. S. $64.35 in This Space GRANT DEED VOL1441 PAGE479' 7� yr3 jiI!5S's 3 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, DOROTHY JANE NAMAN as Trustee for Trust Estate Number One of the Estate of RODNEY V. JOHNSON, SR., Deceased. hereby GRANTS to the CITY OF SAN LUIS OBISPO, a Municipal Corporation, the following described real property in the City of San Luis Obispo, County of San Luis Obispo, State of California: That portion of Block 10 of the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map filed for record May 1, 1878 in Book A, at page 168 of Maps, in the Office of the County Recorder of said County, described as follow s: Beginning at the Centerline of Chorro Street, 50 feet wide, with the Northeasterly prolongation of the Southeasterly line of Monterey Street, as said Streets are shown on said Map; Thence South 53° 07' West along said prolongated line of Monterey Street, a distance of 60 feet to an angle point in the Southeasterly line of Monterey Street, said angle point being the True Point of Beginning; Thence South 53° 07' West along the Southeasterly line of Monterey Street a distance of 142.00 feet to a point; Thence South 36° 53' East, a distance of 44.74 feet to a point; Thence North 670 00' 12" East, a distance of 42. 38 feet to a point; Thence along a curve concave to the left, having a radius of 270 feet, thru an angle of 120 54' 12 ", for a distance of 60.81 feet; Thence North 54° 06' East along a line tangent to the aforementioned curve, a distance of 75.00 feet to a point on the Southwesterly line of Chorro Street; said point being the South- easterly corner of a lot conveyed by Emanuel Lassar to Joseph Frederick, by deed dated July 12, 1899 and recorded in Book 42, at Page 468 of Deeds; Thence North 35° 54' West along the Southwesterly line of Chorro Street, a distance of 36.15 feet to an angle point; Thence North 88° 15' West a distance of 44.70 feet, more or less, to the TRUE POINT OF BEGINNING. Containing 9955 square feet, more or less Dated: 7 —T • Dorot y aZi aman as Trustee for Trust ate Number One of the Estate of Rodney V. Johnson, Sr., Deceased C_ c r N iV ca rn ti F-� co N tvoil M PAGE471 STATE OF CALIFORNIA ) as Trustee for Trust ss . Estate Number Cale of the COUNTY OF San Luis Obispo ) Estate of Rodney V. Joh on,Sr., Deceased, On _ — (c 7 before me, the undersigned, a Mary Public in an or said tate , persona y appeared Dorothy Jane Naman / / / /// known to me to be the person whose name is subscribed to the within instrument and acknowledged that. - she executed the same. Y•., ..,,.Y„,..„,..,,.,...,Y.. " "" "Y, M ..............Y,.YYW.,y OFFICIAL SEAL i WITNESS my hand and official seal. Signature , ,,) NORMA JEANNE DANIEL - Notary Public - Cal. CON. EXP. MAR. 21, 1971 - SAN LUIS OBISPO CO. 1101 Marsh St., San Luis Obispo, Calit. 93401 NORMA JEANNE DANIEL 11 m ° NOTARY PUBLIC CALIFORNIA I PRINCIPAL OFFICE IN ^' SAN LUIS OBISPO COUNTY S,YY,YY.• „Y,YW„NY YY• Y, YYYY .Y•........"" ........... ..Mj (Seal) C_ C r F+ rn ti W N to QD VOL1441' PAGE472 CERTIFICATE OF ACCEPTANCE osasrse #osssrss THIS IS TO CERTIFY that the interest in real property conveyed by the Grant Deed dated July 6, , 19. 67 , from Dorothy Jane Naman., as trustee for Trust Estate No. 1 of the Estate of Rodney V. Johnson, Sr., deceased to the CITY OF SAN LUIS OBISPO, a Political Corporation, is hereby accepted by the undersigned officer on behalf of the City Council pursuant to authority conferred by Resolution No. 549 (1959 Series), recorded 1V .y 26, 1959, in Volume 1002, Official Records, Page 292, San Luis Obispo County, California, and the Grantee consents to recordation thereof by its duly authorized officer or his agent. Date: July 10, 1967 CITY OF SAN LUIS OBISPO By1�..� ATTEST: Mayor ..a - •- � Document No..._13298 - RECORDED AT REQUEST OF �fldIE(IY_Ilil,E- UJ�AASE -� - -- ;;, At_--2-Q Min. Past - - - - -�%--M. Vol. / -I-W Official Records P. 0 San Luis Obispo County, r JUL 12 119967 ,�V,,,, , p 00 ORDER By �L- "' f�=- - -- - eputy Fee $---- ------ - - - - -- Indexed F-+ ca rn ti IN W {C�0 W �J i • 11 I it 1 HARRY C. MURPHY I Attorney at Law 2 ; 911 Palm Street, San'Luis Obispo, California 3 i Telephone: 543 72440 I 4 5 6 7 8 V1I 101 13296, LVOL1441 PACE465 � i f`• A JUL 6 1961 RUTH. WARNKEN, COUNTY CLERK Nam .. - y DEPUiY CLERK IN THE SUPERIOR COURT OF THE STATE OF CALIFORNIA IN AND FOR THE COUNTY OF SAN LUIS OBISPO 11 I Estate of MARY S: FREDERICK, also ) 12 known as and sometimes called MARY ) SALOME FREDERICK, MARIE SALOME ) No. 2242 13 FREDERICK and MARIE S. FREDERICK. ) 14' Deceased. ). 15 ORDER INSTRUCTING TRUSTEE TO SELL REAL PROPERTY PURSUANT TO PROBATE CODE Sec. 1120 16 The petition of ANDREW RENETZKY, as trustee, duly appointed 17 under the .Last Will and Testament of the above named decedent, for, an order 18 to sell certain real property of said estate, in said petition and hereinafter 19 described came on regularly this 3rd day of July 1967; and Paul A. Geihs, the 20 i duly appointed guardian ad litem, appointed under said Section 1120 of the 21 Probate Code, being personally present and representing those persons 22 . I described in said section; and proof having been made to, the satisfaction of 24 25 26 27 28 .1 291 30 31 '321 ANDREW RENETZKY HARRY C. MURPHY' ATTORNEYS AT LAW 911 PALM STREET 8AN LUIS 0915P0. CAL TELEPHONE 84$ -2440 the Court, the Court finds that due-notice of the said hearing has been regularly given, for the period and in the manner required by Section 1200 and 1201 of the Probate Code. That at such sale the real property was sold to DOROTHY JANZ NAMAN, as Trustee for Trust Estate Number One, in the Estate: of RODNEY V. JOHNSON, SR., for the sum of $70, 000. 00, this .being the highest .and best bid received by Trustee.. There is reason for the sale in.that there are numerous remaindermen or beneficiaries to said trust whose identity is set • forth in the petition, on file herein and it appearing that the number of said C- r F+ I" W CD 0� r [VO11441 PAGE466 1 remaindermen is large and their proportionate shares of the real property, I! 21 as is contained in the corpus of the trust is so small that a transfer to said 31 beneficiaries as tenants in common or a distribution in kind would be 4 ; impracticable as to their said interest. It is in the best interest of the 5 j remaindermen and beneficiaries and consistent with the intent of the trustor 6 to sell the real property found as a part of the corpus and divide the proceeds 7 to the remaindermen who are entitled to the distribution of the assets of .said 811 trust. V] 101 111 13 14 15 16 17 18 19' 20' 21 22 23 24 25 26 27 28 29 30 31 32 That an additional bond in the sum of $58, 000.00 has been given and filed herein as required by the order of this Court. IT IS HEREBY ORDERED, ADJUDGED AND DECREED that said sale, be and the same is hereby confirmed;, that said ANDREW RENETZKY, as Trustee, is hereby authorized and directed to effectively pass said title to DOROTHY JANE NAMAN, as Trustee for Trust Estate Number One, in the Estate of RODNEY V. JOHNSON, SR.. of. that certain real property situated in i the City of San Luis Obispo,. County of San Luis Obispo, State of California, described as follows: That portion of Block 10 of the City of San Luis Obispo, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map filed in Book A. at Page 168 of Maps in the Office of the County Recorder of said County, described as follows: Beginning at the intersection of the center line of Chorro Street, 50 feet wide, with the Northeasterly prolongation of the Southeasterly line of Monterey Street, as said Streets are shown on said map; thence South 530 07' West, along said prolonged line of Monterey Street, 60 feet to an angle point in the present Southeasterly line of Monterey Street, said angle point being the true point of beginning; thence South 88° 15' East along. the diagonal Southerly line of . Monterey Street, 45. 25 feet, more or less, to its intersection with the Southwesterly line of Chorro Street; thence South 350 54' East along said Southwesterly line of Chorro Street, 36. 15 feet; _ thence South 54° 06'' West, 53. 00 feet; thence South 53° 38" West, 3. 25 feet; thence. South 220 15' East 16.00 feet; thence South 530 38" West, 3. 00 feet; thence South 250 00' East, 46.00 feet, more, or less, - to' a point in the center line of Arroyo de San Luis Obispo; _thence Westerly along the. meandering-center line of. said'Arroyo to its intersection with a line which extends South, 36° 53' East from a point in the Southeasterly line ,of Monterey Street that is distant thereon South 53° 07' West, 202.00 feet from the first point of beginning; thence North 360 53' West along said last described line, 91.00 feet, more or less, .to the above described point in the Southeasterly line of Monterey Street; ANDREW RENIMKY HARRY C. MURPHY ATTORNEYS AT LAW 2, 911 PALM'STRECT SAN LUIS OBISPO. CAL TELEPHONE 545 -2440 r N r� W CC C: 1 2 3 4 411 1.1I 71 8 9 10 11 12 13 14 151 01 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 ANDREW RENETZ7 HARRY C. MURPHY ATTORNEYS AT LAW 911 PALM STREET SAN Luis OwsPO. CAL. TELEPHONE 543 -2440 VOL 1441 PAGE 467 thence.North 53° 07' East along aid South I g �sterlsy.,din�;;, -.:., ... of Monterey Street, 142.00 feet, more or less, to the True point of beginning. EXCEPTING THEREFROM the reservation contained in the deed from Emanuel Lasar to Joseph Frederick dated July 12, 1899 and recorded July 12, 1899 in Book 42, at Page 486 of deeds, as follows: "Reserving, however, to Emanuel Lasar and his heirs and assigns the right and privilege to connect the walls of any building hereafter to.be erected on the Lot, of Emanuel Lasar Southerly of .and adjacent to the lands herein described, with the Southerly wall of the brick building now standing on herein described Lot or to any building that may be hereafter erected thereon to the end that the Southerly wall thereof may be used as a party wall by and between the parties hereto, their heirs and assigns. An easement for a sewer and incidental purposes, over a portion of the herein described property, as granted to Francis Mora in deed recorded September 4, 1882 in Book O, at Page 471 of Deeds. The Trustee is further authorized to pay such costs and expenditures as particularly set forth In the petition. July 1967. Done in open Court on July 3, 1967, and signed this � =day of STATE OF CALIFORNIA ) COUNTY OF SAN LUIS OBISPO ) ss I, RUTH WARNKEN, County Clerk of the above entitled koanty, and ei- oWfq-- Jfgii,..of the Superior Court tnoreof, do he foregoing is a fv;l. true and cpltet `r9L?ttff die ' 'p?al on file in my office �,, 11 ` >I�.alompared the same with tTangrna(:, °'' '. - r Court gift Su erio f Y) Deputy Clerk -3— Document cNoo. JL32+Z6__ RECrSECORITI_ 1TiLE _!LSUE_0_F__ - - -- pp r_ At - 3Q Min. Past _7`� M. c r- VoL1-YYJ Official Records P. San Luis Obispo County, Calif. ZC LO JUL 12 1967 y COUNTY RECORDER W By - - Deputy Z10 ee $ Indexed enu+mq Q� P -216 (G.S.) Rev. 1 -63 e rT A'NT TT'l T Tt 7 KhC ' 'T TI�TCT 7T, A 1��7r \T1 r40-1A R71A "Y�Tt7 Z5=L.urLl a Y - 11 1 LG �l�l►7ur[f11 �� •VlJ1v1rL-11�I Y a California corporation, herein called the' Company, Insures the parties named as insured in Schedule A, the heirs, devisees, personal representatives of such insured, or, if a corporation, its successors by dissolution, merger or consolidation, against loss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may become obligated to. pay as .provided in the Conditions and Stipulations hereof, which the insured shall sustain by reason of the matters numbered 1 to 4 in Part Three of Schedule B of this policy. CLTA -1963 - SCHEDULE A. STANDARD COVERAGE Insured: li CITY OF SAN LUIS OBISPO,, a municipal corporation'. I i Policy No: 79712 —B SLO Consideration paid for this policy: 8 280.25 (A -1) Effective date: July 12, 1967 at 9:30 A.M. Amount of liability:.$.58,298.00 `i The estate or interest in the land described or referred to in this schedule covered by this policy is: a fee. Title to the estate or interest covered by this policy at the date hereof is vested in: I CITY OF SAN LUIS OBISPOI, a municipal corporation,. I �I The land referred to in this policy is situated in the State of California, County of San -Luis Obispo and is described as follows: Description on sheet attached. I I That portion of Block 10 of the City :of San Luis Obispo, County of San Luis Obispo, State of California, according to Map filed for record May 12 1878 in Book A, at Page 168 of Maps, in the Office of the County Recorded of said County, described as follows: Beginning at the Centerline of Chorro Street, 50 feet vide, with the Northeasterly prolongation of the Southeasterly line of Monterey Street, as said Streets are shown on said Map; thence South.530 07',West along said prolongated line of Monterey Street, a distance of 60 feet to an angle point in the Southeasterly line of Monterey Street, said angle point being the true point of beginning; thence South 530 07' West along the Southeasterly line of Monterey�Street, a distance of 142.06 feet to a point; thence South 36° 53' East, a distance of 44.74 feet to a point; thence forth 67° 00' 12" East, a distance of 42.38 feet to a point; thence along a curve concave to the left, having a radius of 270 feet, through an angle of 12° 54' 12 ", for a distance of 60.81 feet; thence North 540 06' East along a line. tangent to the aforementioned curve, a distance of 75'•00 feet to a point on the Southwesterly line of•Chorro Street, said point being1the" Southeasterly corner of a Lot conveyed by Emanuel Lassar to Josep?, Frederick, by deed dated July 12, 1899 and recorded in Book 42, at Page 468 of Deeds; thenceiNorth 350 54'. West along the Southwesterly line of Chorro Street, a distance of 36.15 feet to an angle point; thence North 880 15' West a distance of 44.70 feet, more or less, to the true point of beginning. i P -218 -B (G.S.) (Rev. 1 -63) SCHEDULE B This policy does not insure against loss or damage by reason of the matters shown in Parts One and Two of Schedule B. PART ONE: 1. General and special taxes of the fiscal year 19671-68, a lien, but not yet due and payable. 2. The reservation contained in the-deed from Emanuel Lasar to Joseph.Frederick dated July 12, 1899 and recorded July 12, 1899 in Book 42, at Page 486 of Deeds, as follows: "Reserving, however, to Enanuel Lasar and his heirs and assigns the right and privilege to connect the walls of eny'building hereafter to be erected on the Lot of Emanuel Lasar Southerly of and adjacent to thelLands herein described, with the Southerly wall of the brick building now standing on herein described Lot or to any building that may be.hereafter erected on herein described Lot or to any building that may be hereafter erected thereon1 to the end that the Southerly wall thereof may be used as a party wall by and between the parties hereto, their heirs and assigns." 3. An easement for a sewer and incidental purposes, over a portion of the herein described property; as granted to Francis Mora, in deed recorded September 4, 1882 in Book 0, at Page 471 of Deeds.. I • P. 218 -BB (G.S.) (Rev. 1 -63) SCHEDULE B (Continued) PART TWO: 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 the public records. 5. Unpatented mining claims; reservations or exceptions in patents on in Acts authorizing the issuance thereof; water rights, claims or title to water. PART THREE: Matters numbered 1 to 4 referred to on the first page of this Policy: 1. Any defect in or. lien or encumbrance on the title to the estate or interest covered hereby in the land described. or referred to in Schedule A, existing at the date hereof, not shown it referred to in Schedule B or, excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. Unmarketability of such title; or 3. Any defect in the execution of. any mortgage shown in Schedule B slecuring an indebtedness; the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the estate or interest referred to in this policy; or I. 4. Priority over said - mortgage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in Schedule B or in the Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority; all subject, however, to the provisions of Schedules A and B and to the Conditions and Stipulations hereto- annexed. In witness whereof, Security Title Insurance Company has executed this policy by its authorized officers, as of the date set forth in Schedule A, the effective date of this policy. G % �00?0RAtFp< Secretary �,�ANCR,5.1961> IF Authorized Sif President . , ., P- 2:6 -ST (G.S.) (Rev. 1 -63) 1. Definition of Terms The following terms when used in this policy mean: (a) "land ": the land described, specifically or byy reference, in Schedule A and improvements aLed thereto which by law constitute real property; (b) "public records those records which im- part constructive notice of matters relating to said land; (c) "knowledge ": actual knowledge, not con- structive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date ": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security instruments; and (f) "insured ": the party or parties named as Insured, and if the owner of the indebtedness se- cured by a mortgage shown in Schedule B is named as an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of such indebtedness, (2) any such owner who acquires the estate or interest to in this policy by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness. and (3) any federal 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, subject otherwise to the provisions hereof. 2. Benefits after Acquisition of Title If an insured owner of the indebtedness secured by a mortgage described in Schedule B acquires said estate or interest, or any part thereof, by fore- closure, trustee's sale, or other legal manner in sat- isfaction of said indebtedness, or any part thereof, or it a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance contract or guaranty insuring or guaranteeing the indebtedness secured by a mortgage covered by this policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and stipulations hereof. 3. Exclusions from the Coverage of this Policy This policy does not insure against loss or damage by reason of the following: (a) Any law, ordinance or governmental regu- lation (including but not limited to building and zoning ordinances) restricting or regulating or pro- hibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafter erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (b) Governmental rights of police power or emi- nent domain unless notice of the exercise of such rights appears in the public records at the data hereof. (c) Title to any property be and the lines of the land expressly described in Schedule A. or title to sheets, roads, avenues, lanes, ways or waterways on which such land abuts, or the right to maintain therein vaults, tunnels, romps or any other struc- lure or improvement; or any rights or easements therein unless this policy specifically provides that such property, rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways this policy in- sures the ordinary rights of abutting owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the date of this policy or at the date such Insured Claimant ac- quired an estate or interest insured by this policy and not shown by the public records, nsunless dis- closure thereof in writing by the Iured shall have been made to the Company prior to the date of this policy; or (3) resulting in no loss to the Insured Claimant; or (4) attaching or created sub- sequent to the date hereof. (e) Loss or damage which would not have been sustained if the Insured were a purchaser or encum- brancer for value without knowledge. 4. Defame and Prosecution of Actions - Notice of Claim to be Given by the Inswed (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in all litigation consisting of actions or proceedings commenced against the Insured, or de- fenses, restraining orders, or in ) unctions interposed against a foreclosure or sale of the mortgage and indebtedness covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may be appropriate to establish the title of the estate or interest or the lien of the mort- gage as insured, which litigation or action in anp of such events is founded upon an alleged defect, lien or encumbrance insured against by this policy, and may pursue any litigation to final determination in the court of last resort. CONDITIONS AND STIPULATIONS (b) In rose any such action or proceeding shall be begun, or defense interposed, or in case knowl- edge shall come to the Insured of any claims of title or interest which is adverse to the title of the estate or interest or lien of the mortgage as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indebtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracts to sell, lease or mortgage the same, or if the successful bidder at a fore- closure sale under a mortgage covered by this policy refuses to purchase and in any such event the title to said estate or interest is rejected as un- marketable, the Insured shall notify the Company thereof in writing. If such notice shall not be given to the Company within ten daps of the receipt of process or pleadings or if the Insured shall not, in writing, promptly notify the Company of any defect, lien or encumbrance insured against which shall come to the knowledge of the Insured, or if the Insured shall not, in writing, promptly notify the Company of any such rejection by reason of claimed unmarketability of title, then all liability of the Company in regard to the subject matter of such action, proceeding or matter shall cease and ter- minate; provided, however, that failure to notify shall in no case prejudice the claim of any Insured unless the Company shall be actually prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and prosecute any action or pro- ceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the mortgage as insured; and the Company may take any appro- priate action under the terms of this policy whether or not it shall be liable thereunder and shall not thereby concede liability or waive any provision of this policy. (d) 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 it the right to so prosecute' or pro- vide defense in such action or proceeding, and all appeals therein, and permit it to use, at its ootion, the name of the Insured for such purpose: When- ever requested by the Company the Insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement, se- curing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and the Company shall reimburse the Insured for any ex- pense so incurred. S. Notice of Loss - Limitation of Action In addition to the notices required under para- graph 4(b), a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within sixty days after such loss nor dam- age shall have been determined and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shall be had by the Insured under this policy unless action shall be commenced thereon within five years after ex- piration of said thirty day period. Failure to furnish such statement of loss or damage, or to commence such action within the time hereinbefore specified, shall be a conclusive bar against maintenance by the Insured of any action under this policy. 6. Option to Pay. Settle or Compromise Claims The Company shall have the option to pay or settle or compromise for or in the name of the In- sured any claim insured against or to pay the full amount of this policy, or, in case loss is claimed under this policy by the owner of the indebtedness secured by a mortgage covered by this policy, the Compan shall have the option to purchase said indebtedness; such purchase, ayment or tender of payment of the full amount of p this policy, together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been given to the Company by the Insured, the Company offers to purchase said indebtedness, the owner of such in- debtedness shall transfer and assign said indebted- ness and the mortgage securing the same to the Company upon payment of the purchase price. 7. Payment of Loss (a) The Iiability of the Company under this pol- icy shall in no case exceed, in all, the actual loss of the Insured and costs and attorneys' fees which the Company may be obligated hereunder to pay. (b) The Company will pay, in addition to any loss insured against by this policy, all costs imposed 8 n the Insured in litigation carried on by the Company for the Insured, and all costs and attor- neys fees in litigation carried on by the Insured with the written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (1) if the Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded here- in removes such defect, lien or encumbrance within a • reasonable time after receipt of such notice, or (2) for liability voluntarily assumed by the Insured in settling any claim or suit without written consent of the Company, or (3) in the event the title is re- jected as unmarketable because of a defect, lien or encumbrance not excepted or excluded in this Euntil there has been a final determination by a court of competent jurisdiction sustaining such rejection. (d) All payments under this policy, except pay- ments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall be made without. producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Company; provided, however, if the owner of an indebtedness secured by a mort- gage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such pay- ments reduce the amount of the indebtedness se- cured by such mortgage. Payment in full by any person or voluntary satisfaction or release by the Insured of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mort- gage, except as provided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shall be payable within thirty days thereafter. S. Liability Noncumulative It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under any policy insuring the validity or pri- ority of any mortgage shown or referred to in Schedule B hereof or any mortgagge hereafter ex- ecuted by the Insured which is a Jorge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment to the Insured under this policy. The provisions of this paragraph numbered 6 shall not applyy to an Insured owner of an indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires title to said estate or interest in satisfaction of said indebtedness or any part thereof. S. Subrogation upon Payment or Settlement Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the In- sured, and it shall be subrogated to and be en- titled to all rights and remedies which the Insured would have had against any person or property in respect to such claim had this policy not been issued. If the payment does not cover the loss of the Insured, the Company shall be subrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of the Insured, such 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 hereunder which shall exceed the amount, if any, lost to the Company by reason of the impairment of the right of subrogation. The Insured, if requested by the Company, shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect such right of subrogation, and shall per- mit the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of the indebtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any collateral security for the indebtedness, provided such act does not result in any loss of priority of the lien of the mortgage. 10. Policy Entire Contract Any action or actions or rights of action that the Insured may have or may bring against the Com- pany arising out of the status of the lien of the mortgage covered by this policy or the title of the estate or interest insured herein must be based on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice President, the Secretary, an Assistant Secretary or other validating officer of the Company. 11. Notices. Where Sent All notices required to be given the Company and any statement in writing required to be furn- ishoil the Company shall be addressed to it at the office which issued this policy. 12. THE FEE SPECIFIED ON THE FACE OF THIS POLICY IS THE TOTAL FEE FOR TITLE SEARCH AND EXAM NATION AND FOR TITLE INSURANCE. 1 P 12 -G' (G.S') Rev. 5 -66 FRESNO COUNTY Fresno Phone: 266 -9721 (209) Mariposa Street Office 1927 Mariposa Mall Fresno Title Office 1234 L Street IMPERIAL COUNTY El Centro 654 Main Street Phone: 352 -2011 (714) BERN COUNTY Bakersfield 1424 17th Street Phone: 327 -5785 (805) RINGS COUNTY Hanford 208 West 7th Street Phone: 584 -3381 (209) LOS ANGELES COUNTY Los Angeles 3444 Wilshire Boulevard Phone: 381 -3111 (213) MADE1A COUNTY Madera 129 South D Street Phone: 673 -3553 (209) MERCED COUNTY Merced 1944 M Street Phone: 722 -3911 (209) NAPA COUNTY Napa 1370 Second Street Phone: 226 -3727 (707) ORANGE COUNTY Santa Ana 825 North Broadway Phone: 547 -7251 (714) RIVERSIDE COUNTY Riverside 3602 University Avenue Phone: 684 -1400 (714) SACRAMENTO COUNTY Sacramento 2028 K Street Phone: 441 -5341 (916) SAN BERNARDINO COUNTY San Bernardino 480 Court Street Phone: 889 -3531 (714) SAN DIEGO COUNTY San Diego 1301 Third Avenue at "A" Phone: 2324031 (714) SAN JOAQUIN COUNTY Stockton San Joaquin County Abstract 217 North San Joaquin Street Phone: 466 - 5821(209) W. , 0 SAN LUIS OBISPO COUNTY San Luis Obispo 1119 Chorro Street Phone: 543 -8211 (805) SAN MATEO COUNTY Redwood City 749 Brewster Avenue Phone: 369 -6771 (415) SANTA BARBARA COUNTY Santa Barbara 1014 State Street Phone: 966 -6131 (805) SOLANO COUNTY Vallejo 840 Tuolumne Street Phone: 6434521 (707) STANISLAUS COUNTY Modesto 920 12th Street Phone: 523 -4521 (209) TULARE COUNTY Visalia 119 South Locust Street Phone: 732 -4761 (209) VENTURA COUNTY Ventura 2660 E. Main Street Phone: 648 -2864 (805) I i Security Title Insurance Company policies are also written in the counties listed below and in the State of Hawaii. ALAMIDA COUNTY Oakland Northwestern Title Company 1615 Webster Street Phone: 834 -7665 (415) AMADOR COUNTY Jackson Western Land Title Company 34 Summit Street Phone: 223 -0482 (209) BUTTE COUNTY Oroville Northwestern Title Company of Butte County 2622 Oro Dam Boulevard Phone: 533 -1666 (916) CALAVEBAS COUNTY San Andreas Golden (chain Title Company P. O. Box 1086 Phone: 754 -3851 (209) CONTRA COSTA COUNTY Walnut Creek Financial Title Company 1555 Mt- Diablo Blvd. Phone: 932 -1555 (415) HUMBOLDT COUNTY Eureka Humboldt Land Title Company 6th 6 *T' Streets Phone: 443 -0837 (707) I I MARIN COUNTY SANTA CLARA COUNTY San Rafael San Jose Pacific Coast Title Company of Marin Valley Title Company 900 Mission Avenue 38 North First Street Phone: 454 -6070 (415) Phone: 292 -7150 '(408) MARIPOSA COUNTY Mariposa Mariposa County Title Co. Box 218 Phone: 966 -3818 (209) MONTEREY COUNTY Monterey Coast Counties Land Title Company 439 Tyler Street j Phone: 375 -2262 (408) PLACER COUNTY Roseville Fidelity Title Company 424 Vernon Street Phone: 782 -3731 (916) SAN FRANCISCO COUNTY Son Francisco Northwestern Title Company of San Francisco 3557 Geary Boulevard Phone: 752 -4770 (415) SANTA CRUZ COUNTY Santa Cruz Penniman Title Co., Inc. 1537 Pacific Avenue Phone: 426 -1711 (408) SHASTA COUNTY Redding Redding Title Company 1601 Pine Street Phone: 241 -6363 (916) SONOMA COUNTY Santa Rosa Northwestern Title Security Company 535 Fourth Street Phone: 542 -5185 (707) TEHAMA COUNTY Red Bluff Northern California Title Company 349 Pine Street Phone: 527 -5421 (916) SANTA BARBARA COUNTY STATE OF HAWAII Santa Barbara Honolulu Santa Barbara Title Company Security Title Corporation 21 West Carillo St. 125 Merchant Street Phone: 966 -3975 (805) Phone: 562 -326 (808) SECURITY TITLE POLICIES AND .SERVICES ARE AVAILABLE IN TFIE COUNTIES S14OWN ABOVE oA zf m m r = N O m =, ; Z � � 1.1 mn y O - - r �j11 J m m p< D D D � M .. 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