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HomeMy WebLinkAboutD-778 Santa Rosa Widening Recorded 03/04/1968..e n RECORDING REQUESTED b. WHEN RECORDED MAIL TO City of San Luis Obispo J Harold Johnson, City Attorney 990 Palm Street San Luis Obisvo,California 93401 City of SanLuisObispo L VOL1467 PACE255 416® r - SPACE ABOVE THIS LINE FOR RECORDER'S USE $2.20 $2.20 $2.20 $1.65 - - � - -- - I - MAR 4 1968 SAN LUIS M ImoS $ N LUIS SAN LUIS LUIS r signed, a Notary Public in and for said County and State, personally OBISPO appeared Kenneth L.Glick, & known Renne I OBISPO OBISPO OBISPO COUNTY Hel .Underi Be Secretary of the Corporation that executed the COUNTY COUNTY ,I COUNTY' -, . MAR see e' 4 1966 AFFIX I.R.S. $ 8.25 DOCUMENTARY,1 . DOCUMENTARY DOCUMENTARY DOCUMENTARY STAMP TAX STAMP TAX STAMP TAX STAMP TAX EDTM a. HORKADAY Corporation Grant Deed THIS POEM NWISHED BY THE MSTA TITLE GUARANTY CCMrANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, PREFERRED LEASING, INC., a California corporation a corporation organized under the laws of the state of California hereby GRANTS to CITY OF SAN LUIS OBISPO, a Political 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 25 of the Resubdivision of part of Block 25 of the City of San Luis Obispo, County of San Luis Obispo, State of California, accordidg to map recorded November 6, 1911, in Book 1, Page 28 of Maps, described as follows: Beginning at the most Easterly corner of said Block 25; thence South 53 °38' West along the Southeasterly line of said Block a distance of 10.00 feet; thence Northwesterly along a line parallel to the Northeasterly line of said Block 25, a distance of 5.00 feet; thence North 530 38' East a distance of 4.00 feet; thence Northwesterly along a line parallel to the Northeasterly line of said Block 25 to the Southeasterly line of a 20 foot alley; thence Northeasterly along the Southeasterly line of said alley a distance of 6.00 feet, more or less, to the Northeasterly line of said Block 25; thence Southeasterly along said Northeasterly line of Block 25, a distance of 140.00 feet to the point of beginning. Being also known as a portion of Lot 34 of the McDougall Subdivision of Block 25 of the City of San Luis Obispo. In Witness Whereof, said corporation has caused its corporate name and seal to be affixed hereto and this instrument to be executed by its President andilise –pr-ea idant, —and Secretary thereunto duly authorized. Dated: Tanuary 30. 1968 STATE OF CALIFORNIA SS. LEAS COUNTY OF San Luis Obispo PREFERRED On March 4, 1968 before me, the under- r signed, a Notary Public in and for said County and State, personally By appeared Kenneth L.Glick, & known Renne dHelen G,Undeiwood, to me to bet den town to,meh`_be Mett�°resi en - an CLOS SIDBn known to me to be Hel .Underi Be Secretary of the Corporation that executed the By within Instrument, known to me to be the persons who executed the ernar S . C within Instrument on behalf of the Corporation therein named, and acknowledged to me that such Corporation executed the within Instru- ment pursuant to its by -laws or a resolution of its board of directors. WITNESS,A hand an ffici 1. (Seal) 1rI U Title Order No. 337 EDTM a. HORKADAY M ame ype or rtn ed) Escrow or Loan No.. Notary Public in and for said County and State MAIL TAX STATEMENTS AS DIRECTED ABOVE 4a os sm 9e�11 tsry EDITH SAN LUIS OBISPO 3 a 1 c 0 ..1�1 y y r ny tv c� O O ro�� y o y0 do . � do ° c� O O lot . � do u V LVOL1467 PAGE256 CERTIFICATE OF ACCEPTANCE #t #tttt #t #tttt# THIS IS TO CERTIFY that the interest in real property conveyed by the Corporation Grant Deed dated January 30, 1%8. 19 , from PItFFFRRFi1 T.F.AR TN _ TNC _ a CAI ,fern i a Corporation, 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 Way 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: March 4. 1%8 ATTEST, i, r1 y-. 7 _� CITY OF SAN LUIS OBISPO N /- / �. TA=1 I 1:.• D • _1 Document No..-._:__ RECORDED AT jtEQU �F ,.Cuerta.2ne --_G. uaran o. AT.... MIN. PAST.. M, VOL.. O /R. P. „.... .,.a .� ' 1 SAN L 1 OBISPO COUNTY, CAL, co MAR 4 - 1968 cm �la�In� lob my By QQ - deuce d .7 /2a�6a CUESTA TITLE GUARANTY CO. 795 HIGUERA STREET BOX 1265 SAN LUIS OBISPO. CALIF. 98401 PHONE 544 -1660 March 18,1968 NlIC14AEL J. TOLEN PRESIDENT AND MANAGER . 4Q.1 p� p MAR1Qttl. {BSI ..:.... -... ._. r7 Mr. Harold Johnson, City Attorney `. .. City of.San Luis Obispo, 990 Palm Street San Luis Obispo,California Dear Sir: Re; Escrow # 306 -eh, Preferred Leasing,Inc to City of SanLuis Obispo, All documents in the escrow captioned above were recorded March 4 1968, and we enclose herewith, Escrow statement, and Policy of Title Insurance No. 05 10 03 00573, issued by CUESTA TITLE GUARANTY COMPANY. Ver truly gouts, Edith orn Escrow Officer P.S. Receipt for $7095.50 attached. klC'EIPT Received From _ �s07'a` Address Dollars4.e — For . _ ;. �j'�r:.A00OUNT� ,, ,HOW PAID SK808 ESCROW STATEMENT Escrow No 306 —eh SELLER - BORROWER Property Address B—Ptn of 1070 Palm Street,FanT.,�hiFpo BUYER LENDER CITY TO Debits Credits ITEMS Debits Credits PAID OUTSIDE OF ESCROW TO DEPOSIT by r asu °o the i of SanLuisObisRO - 1,095. 5C DEPOSIT DEPOSIT DEMAND FOR DEED Ptn of B1 25 of the Re -sub Bl 25 7,060. 00 of the City of S.L.O. I ADJUSTMENTS as of March 4 1968 TAXES on $ - - for - Months Paid to No tax adjustment/pro-ration - -- ---- INT. on $ at % Paid To Ins. on $ Prem. $ 3 yrs. exp. I RENTS DISBURSEMENTS PRINCIPAL OF NOTE - DEMAND FOR RECONVEYANCE OF TD - - PLUS "INT. on $ at % BENEFICIARIES CHARGE FOR COMMISSION TO TER. REPORT -WORK PAYMENT TO TITLE COMPANY and others. TITLE POLICY RECONVEYANCE FEE REVENUE STAMPS (ON DEED) TAX SERVICE RECORDING Deed from INSURANCE ENDORSEMENT FEES HANDLING of BENEFICIARY'S PAPERS ESCROW FEE - 35.50 DRAWING DOCUMENTS - NOTARY FEE DUE THIS COMPANY - BLANCE -CHECK HEREWITH - BALANCE -CHECK HEREWITH TOTALS 7,09515011 7 095. 0 Date March 4,1968 By Edith Hornaday Escrow, POLICY OF TITLE INSURANCE CHICAGO TITLE INSURANCE COMPANY A STOCK COMPANY 05 10 03 00573 BY this Policy of Title Insurance, CHICAGO TITLE INSURANCE COMPANY, a corporation of Missouri, herein called the Company, does Hereby Insure those persons or parties named as IN- SURED in Schedule A hereof, hereinafter called the Insured, the heirs, devisees, personal represen- tatives of said Insured, or if a corporation, any person or corporation deriving an interest or estate in said land by dissolution, merger or consolidation together with any other person or corporation in- cluded in the term Insured as defined in this Policy against loss or damage not exceeding the amount stated in Schedule A hereof 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 In- sured shall sustain by reason of: 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 or referred to in Schedule B or exclued from coverage in Schedule B or in the Conditions and Stipulations; or unmarketability of such title; or any defect in the execution of any mortgage or deed of trust, shown in Schedule B securing an indebtedness, the owner of which is named as an Insured in this Policy, but only insofar as such defect affects the lien or charge of such mortgage or deed of trust upon the estate or interest covered hereby; or priority, at the date hereof, over any such mortgage or deed of trust, of any encumbrance upon such estate or interest, except as shown in Schedule B, such mortgage or deed of trust being there shown in the order of its priority; all subject, however, to the Conditions and Stipulations annexed hereto, which Conditions and Stip- ulations, together with Schedules A and B are hereby made a part of this policy; all as of the time and date shown in Schedule A, being the effective date of this policy. In Witness Whereof, said Company has caused this policy to be signed, sealed and r'}'ade effec- tive by the countersignature of its duly authorized validating signatory, whose idenllity is sub- joined hereto. CHICAGO TITLE INSURANCE COMPANY 302405 -10 President Secretary w SCHEDULE A Amount $'7,060.00 Policy Date Policy No. 05 10 03 00573 March 4, 1968 Fee $ 73.10 4:45 P.M. Order No. 3373 INSURED CITY OF SAN LUIS OBISPO. .1. The estate or interest in the land described or referred to in this schedule covered by this policy.is: .- A FEE 2. Title to the. Estate or interest covered by this policy at the date hereof is vested in: CITY OF SAN LUIS OBISPO, a Political corporation. 3. 'The land referred to in this policy is situated in the County of San Luis Obispo State of California, and is described as follows: That portion of Block 25 of the Resubdivision of Part of Block 25 of the City of San Luis Obispo, in the City of San Luis.Obispo, according to map recorded November 6, 1911, in Book 1, Page 28 of Maps, described as follows: Beginning at the most Easterly corner of said Block 25; thence South 530 38' West along the Southeasterly line of said Block a distance of 10.00 feet; thence Northwesterly along a line parallel to the Northeasterly line of said Block 25 a distance of 5.00 feet; thence North 53° 38' East a distance of 4.00 feet; thence Northwesterly along a line parallel to the Northeasterly line of said Block 25 to the Southeasterly line of a 20 foot alley; thence Northeasterly along the Southeasterly line of said alley a distance of 6.00 feet, more or.less, to the Northeasterly line of said Block 25; thence Southeasterly along said Northeasterly line of Block 25 a distance of,140.00 , feet to the point of beginning. Being also known as a portion of Lot 34 of the McDougall Subdivision of Block 25 of the City of San Luis Obispo. Form 3235 -05 -1964 Chicago Title Insurance Company Policy No. 05 10 03 00573 SCHEDULE B ,.This policy does, not insure against loss or damage by reason of Part One and Part Two following: • PART ONE: This part of- Schedule'B refers to matters which, if any such exist;* may affect the title to' said . land, but which are not shown in this policy: 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. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. PART Two: This part of Schedule B shows liens, encumbrances, defects and other matters affecting the title to-said land or to which said title is subject: 1. General and Special taxes for the fiscal year 1968 -1969, a lien not yet payable. Form 3236 -1961 Chicago Title rtuarra ce Coriipiny ALLEY 60 ow- �2 7) (2e) (-3-3) (34) Q, L) G j-,y Lps I AL �a LJ PAL A4 ST - SQ Fr 54? ACRE joop LANCASTER TO C% )r OF 0/= SAN LUIS 06 /5'P- FOR SET3j4.--'H LINE SCALE: / " . ,IILo I 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land ": the land described. specifically or by reference, in Schedule A and improvements affixed 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 instrument; and (f) "insured ": the party or parties named as Insured, and if the owner of the indebtedness secured by a mortgage shown in Schedule B is named as 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 re- ferred to in this policy by foreclosure, trustee's We. 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 insur- ing or guaranteeing said indebtedness. or any part thereof. whether named as an insured here- in 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 foreclosure. trustee's We or other legal manner in satisfaction of said indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance con- tract 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 dam- age 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 prohibiting the occupancy. use or enjoyment of the land, or regulating the character, dimen- sions, or location of any improvement now or hereafter erected on said land. or prohibiting a separation in ownership or a reduction in the dimenslons or area of any lot or parcel of land. (b) Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears in the public records at the date hereof. (c) Title to any property beyond the lines of the land expressly described in Schedule A. or title to streets, roads, avenues. lanes, way or waterways on which such land abuts, or the right to maintain therein vaults, tunnels, ramps or any other structure 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 insures the ordinary rights of abutting owners for access to one of such streets or highways, unless otherwise ex- cepted 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 acquired an estate or interest insured by this policy and not shown by the public records, unless disclosure thereof in writing by the Insured shall have been made to the Com- pany prior to the date of this policy; or (3) re- sulting in no loss to the Insured Claimant; or (4) attaching or created subsequent to the date (c) Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value without knowledge. OF ACTIONS — BY THE (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 defenses, restraining orders, or in- junctions 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 mortgage as in- sured, which litigation or action in any of such events is founded upon an alleged defect, lien or encumbrance insured against by this policy. CONDITIONS AND STIPULATIONS ind may pursue any litigation to final deter- mination in the court of last resort. (b) In case any such action or proceeding shall be begun. or defense interposed, or in case knowledge shall come to the Insured of any claim 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 In- sured 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 foreclosure 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 unmarket- able, the Insured shall notify the Company thereof in writing. If such notice shall not be given to the Company within ten days 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 marketability of title, then all liability of the Company in regard to the subject matter of such action. proceeding or matter shall cease and terminate; provided, however, that failure to notify shall in no case prejudice the claim of any Insured unless the Company shall be actu- ally 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 proceeding or do any other act which in its opinion may be necessary or desirable to estab- lish the title of the estate or interest or the lien of the mortgage as insured; and the Com- pany may take any appropriate 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 prose- cute or provide defense in such action or pro- ceeding, and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Company the Insured shall give the Company all reasonable aid in arty such action or pro- ceeding, in effecting settlement, securing evi- dence. obtaining witnesses, or prosecuting' or defending such action or proceeding, and the Company shall reimburse the Insured for any expense 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 or damage 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 expiration 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 Insured any clam 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 Company shall have the option payment or tender of payment of the full amount of this policy, together with all costs, attorneys' fees and expenses which the Company is obli- gated 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 indebtedness shall transfer and assign said indebtedness and the mortgage securing the same to the Company upon payment of the pur- chase price. 7. PAYMENT OF LOSS (a) The liability of the Company under this policy 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 im- posed upon the Insured in litigation carried on by the Company for the Insured. and all costs and attorneys' 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 Com- pany, after having received notice of an alleged :t, lien or encumbrance not excepted or c.._iuded herein removes such defect. lien or encumbrance within a reasonable time after re- ceipt of such notice, or (2) for liability vohm- tarily assumed by the Insured in settling any claim or suit without consent of the Company, or (3) in the event the title is rejected as un- marketable because of a defect, lien or encum- brance not excepted or excluded in this policy. until there has been a final determination by a court of competent jurisdiction sustaining such rejection. (d) All payments under this policy, except payments made for costs, attorneys' fees and ex- penses, shall reduce the amount of the insur- ance 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 payments reduce the amount of the in- debtedness secured 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 indebted- ness secured by such mortgage, except as pro- vided 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. 8. LIABILITY NONCUMULATIVE It is expressly understood that the amount of this policy is reduced by any amount the Com- pany may pay under any policy insuring the validity or priority of any mortgage shown or referred to in Schedule B hereof or any mort- gage thereafter executed by the Insured which is a charge or lien. on the'. estate or interest de- scribed or referred to in Schedule A, and the amount so paid shall be deemed a payment to the Insured under the policy. The provisions of this paragraph numbered 8 shall not apply 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. - 9. 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 Insured, and it shall be subrogated to and be entitled 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 permit the Com- pany 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 per- sonal liability of any debtor or grantor. or ex- tend 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, pro- vided 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 Company 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 Presi- dent, a Vice President, the Secretary, an Assist- ant 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 furnished the Company shall be addressed to it at 111 W. Washington Street, Chicago. Illinois 60602 or at any branch office of the Company shown on the reverse side hereof. 12. FEE The fee specified in Schedule A is the entire charge for title search, title examination and title insurance. P Otn .0 M oar C a ),. a F 0 ETZ 0 ® INY 0 %0 3 z o Z,