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HomeMy WebLinkAboutD-789 Foothill Widening Recorded 05/14/1968L -I 9179- SPACE ABOVE THIS LINE FOR RECORDER'S USE $11.00 LINTY DOCtJMjiiTAA SYAMP?TAxz_ Cfv of San Luis Cbispo Grant Deed AFFIX I.R.S. S ....... 11:00� _ THIS FORM FURNISHED BY SECURITY TITLE INSURANCE COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, A. L. FERRI17I and HILDA E. FERRINI, husband and wife, hereby GRANT(S) to CI'T'Y OF SAN LUIS OBISPO, a municipal corporation the following described real property in the county of San Luis Obispo state of California: See description attached as Exhibit "A" consisting of one page. Dated April 26, i968 STATE OF CALIFORNIA COUNTY OF San Luis Obispo I SS On May 13, 1968 before me, the under signed, a Notary Public in and for said County and State, personally appeared Al L Ferrini and Hilda E Ferrini known to me to be the person$ whose namts are subscribed to the within instrument and acknowl�eddg'eed�Jthar they executed the same. Signature of Notary DORIS M. EECKHOl7r' LAY, Comm,"i -n &Wfroz Ewa 2, 1070 Name (Typed or Printed) of Notary i -1 (r, S 1 (Rov R -PS ) 9 nt r' Hilda E. Ferrini M^I" Inn a.r..cm r..... .+.. ..... ---- -- 3 D M� CO m to RECORDING REQUESTED P` AND WHEN RECORDED MAIL TO r I NAME City of San Luis Obispo ADDRESS 996 Palm Street CITY & STATE San Luis Obispo, Calif. J Title Order No Escrow No MAIL TAx STATEMENTS TO Nwwe See above ADDRESS CITY & STATE L ST J L -I 9179- SPACE ABOVE THIS LINE FOR RECORDER'S USE $11.00 LINTY DOCtJMjiiTAA SYAMP?TAxz_ Cfv of San Luis Cbispo Grant Deed AFFIX I.R.S. S ....... 11:00� _ THIS FORM FURNISHED BY SECURITY TITLE INSURANCE COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, A. L. FERRI17I and HILDA E. FERRINI, husband and wife, hereby GRANT(S) to CI'T'Y OF SAN LUIS OBISPO, a municipal corporation the following described real property in the county of San Luis Obispo state of California: See description attached as Exhibit "A" consisting of one page. Dated April 26, i968 STATE OF CALIFORNIA COUNTY OF San Luis Obispo I SS On May 13, 1968 before me, the under signed, a Notary Public in and for said County and State, personally appeared Al L Ferrini and Hilda E Ferrini known to me to be the person$ whose namts are subscribed to the within instrument and acknowl�eddg'eed�Jthar they executed the same. Signature of Notary DORIS M. EECKHOl7r' LAY, Comm,"i -n &Wfroz Ewa 2, 1070 Name (Typed or Printed) of Notary i -1 (r, S 1 (Rov R -PS ) 9 nt r' Hilda E. Ferrini M^I" Inn a.r..cm r..... .+.. ..... ---- -- 3 D M� CO m to ��'''' C On! ° IV,t wva j iVl ¢� Aj =3 > wool,..a1..;.:,,.1v1.,...,..�v N.�'a1,�:�1v1:;�_��- '�.•::�a `�� a�o1. u= �: �a` �.,, �i�.; �v�:.. �.�o.�,:�o�:;�.�.•.lnl�$:1..1n1 �_ b &voJ476 PAGE 46 EXHIBIT "A" PARCEL 1: That portion of Lot 10 of Mount Pleasanton Square Noe 2, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map recorded May 21, 1928 in Book 3, page 101 of Maps, described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3, page 10l of Maps; thence Southeasterly alon'a the '.lest property lire of Chorro Street a distance of 7u.15 feet to a point; thence on a curve to the Northwest tangent to last described line., with a radius of 144.00 feet through an an;-1e of 26° 239 43" for a length of 68.85 feet to the :?esterly line of Mount Pleasanton Square No. 2: thence Northerly along said line a distance of 18.11 feet more or less to the point of beginning. PARCEL 2: That portion, of the Northeast quarter of the Northeast quarter of Section 27, To:nshin 30 South, Range 12 East, Mount Diablo Base and Meridian, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to the official plat of the survey of said land approved by the Surveyor General on November 30, 1867, more particularly described as follows: Beginning at the North-west corner of Mount Pleasanton'Square No_ 2, according to a map recorded ."May 21, 1928 in Book 3, at pale 10a of Maps; thence Southerly along the Test line of ;,count Pleasanton a distance of 10.00 feet to the true point of beginning; thence Westerly along the property line of Foothill Boulevard a distance of 163.00 feet as recorded in a deed in Book 560, page 152 of Official Records; thence Southerly along the East property line of Broad Street a distance of 20.97 feet; thence Northeasterly on a curve tangent to last described line with a radius of 11.00 feet through an angle of 890 539 for a length of 21.75 feet; thence Easterly parallel to Foothill Boulevard a distance of 130.61 feet; thence on a curve to the right tangent to last described line vi-ith a radius of 144.00 feet through an angle of 70 319 17" for a length of 18,90 feet to the Nest line of Mount Pleasanton Square No. 2; thence Northerly along the West line of Mount Pleasanton Square No. 2 a distance of 8.11 feet to the true point of beginning, .p; p.a p1 co , rn ' m I CERTIFICATE OF ACCEPTANCE #ttt #tt #tt #t # #t THIS IS TO CERTIFY that the interest in real property conveyed by the Deed dated April 26, 1968 , 19 , from A. L. Ferrini and Hilda E. Ferrini 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 lbay 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 �vOL1479 PACE • 47. officer or his agent. • 3 Date: may 8, 1968 CITY OF SAN LUIS OBISPO co rn co By ATTEST: .. Mayor -_ - X179 9- . v Document No.-- _ R£CORDfiD AT REQUEST OF At O Min. Past- -- M. Vol. y760fficial Records P. 3 San Luis Obispo County, Calif. MAY 141968 �,OUN aBCORD$A $y 02 �°$ . ty Fee $----------- - - - - -- 5w E -64 (G.S.) 1-66 ' 4 SECURITY TITLE INSURANCE COMPANY San Luis Obispo OFFICE DATE May 14, 1968 City of San Luis Obispo 990 Palm Street ESCROW 81283 de San Luis Obispo, Calif. 93401 L Attne Harold Johnson, City Attorney L PROPERTY - °'• M 7 In accordance with instructions in the above escrow, we enclose the following: 1. Statement of receipts and disbursements. 2. Policy of title Insurance. 3. Letter from Union Oil Company;; ^.,-�,�- 1 4. Copies of building permit. 5. Check in the amount of $66.00 to cover cost of building permit. Your deed will be returned to you from the office of the County Recorder as soon as it has been copied of record. We thank you for this opportunity of serving you. Very truly `yoouurrss, 2 Doris M. Eeckhout Escrow Officer de OFFICES: SECURITY TITLE BAKERSFIELD RIVERSIDE EL CENTRO SACRAMENTO INSURANCE C O M PANY FRESNO SAN BERNARDINO HANFORD SAN DIEGO LOS ANGELES SANTA ANA San Luis Ob' O ............................... -----P..- --- --- - - - - - -- ................................. ..... ..Office a • PROPERTY City of San Luis Obispo Demand for deed I escrow fee Cash received SAVE FOR INCOME TAX INFORMATION E -62 (G.S.) 4.25 -56 eeeuwrrn mLe OFFICES MADERA SAN LUIS OBISPO MERCED SANTA BARBARA MODESTO STOCKTON NAPA VALLEJO REDWOOD CITY VENTURA VISALIA DATE May 14, 1968 ESCROW J 81283 de DISBURSEMENTS II 961o.00 38.50 RECEIPTS F • ae P -218 (G.S.) Rev. 1 -63 - t3=LjU"I I T I I I LC IIV7U"/AIVI-jC Lj JIV11—'HIV T 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: CITY OF SAN LUIS OBISPO Policy No: 81283 -SLO Consideration paid for this policy: 8 101.00-(A-1) Effective date: May 14., 1968 at 8 :30 A.M. Amount of liability: $„ 9600.00 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: CITY OF SAN LUIS OBISPO. a municipal corporation The land referred to in this policy is situated in the State of California, County of • San Luis Obispo and is described as follows: - See description on sheet attached. PARCEL 1: That portion of Lot 10 of Mount Pleasanton Square No. 2, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map recorded May 21, 1928 in Book 3, page 104 of Maps, described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3, page 104 of Maps; thence Southeasterly along the "lest property line of Chorro Street a distance of 74.15 feet to a point; thence on a curve to the Northwest tangent to last described line, with a radius of 144.00 feet through an angle of 26° 234 43" for a length of 68.85 feet to the Westerly line of Mount Pleasanton. Square No. 2; thence Northerly along said line a distance of 118.11 feet more or less to the point of beginning. PARCEL 2: That portion of the Northeast quarter of the Northeast quarter of Section 27, Tornship ;0 South, Range 12 East, ?Count Diablo Base and Meridian, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to the official plat of the survey of said land approved by the Surveyor General on November 30, 1867, more particularly described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No_ 2, according to a map recorded May 21, 1928 in Book 3, at page 104 of Maps; thence Southerly along the West line of ;amount Pleasanton a distance of 10.00 feet to the true point of beginning; thence Westerly along the property line of Foothill Boulevard a distance of 163.00 feet as recorded in a deed in Book 560, page 152 of Official Records; thence Southerly along the East property line of Broad Street a distance of 20.97 feet; thence Northeasterly on a curve tangent to last described line with a radius of 14.00 feet through an angle of 890 534 for a length of 21.75 feet; thence Easterly parallel to Foothill Boulevard a distance of 130.61 feet; thence on a curve to the right tangent to last described line with a radius of 144.00 feet through an angle of 70 314 17" for a length of 18.90 feet to the West line of Mount Pleasanton Square No. 2; thence Northerly along the West line of Mount Pleasanton Square No. 2 a distance of 8.11 feet to the true point of beginning, P -218 -B (G.&) (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 1968 -69, now a lien, but not yet due and payable. 2. Covenants, conditions and restrictions affecting Parcel 2, herein described, imposed by deed from T. H. Rougeot, et.ux., dated December 3, 1926 and recorded December 31 1926 in Book 25, at page 123 of Official Records. 3. An easement affecting Parcel 1 herein described, for public utilities and incidental purposes, with the right of ingress and egress to.and from the same,, as reserved by T..H. Rougeot, et ux., in deed dated February 17, 1930 and recorded February; 28, 1931 in Book 105, at page 446 of Official Records.. 4. Covenants, conditions and restrictions in deed above mentioned, which provide that a violation thereof shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith and for value. P- 218 -BB (G.S.) (Rev. 1 -63) SCHEDULE B (Continued) PART . TWO: M 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 or 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 or 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 securing an indebtedness; the owner of which is named as an Insured in Schedule A, bui only insofar as such defect affects the lien or-charge of said mortgage upon the estate or interest referred- to in this policy; or 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. 61 I ���l�gpflPOAATFp• ;W — 0 sear ,'QACH, 5. pt Zr <° t ,it 11etC�� An Authorized Signature President P- 218 -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 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 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 insuringg 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 if 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. 8. 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 date hereof. (c) Title to any property be and the lines of the land expressly described in Schedule A, or title to streets, roads, avenues, lanes, ways or waterways on which such land abuts, or the right to maintain therein vaults, tunnels, romps or any other struc- ture 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, unless dis- closure thereof in writing by the Insured 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. Defense and Prosecution of Actions - Notice of Claim to be Given by the Insured (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 injunctions 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 any 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 case 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 ood faith contract to sell the indebtedness secured g 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 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 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 oction, 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. 5. Notice of Loss - Limitation of Action In addition to the notices required under para- graph 4(b), a statement in writin of any loss or g 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 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 Company shall have the option to purchase said indebtedness: such purchase, payment or tender of payment of the full amount of 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 liability 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 upon 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 policy, until 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 facto 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 doss 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. 8. 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 mortgage hereafter ex- ecuted by the Insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment to the Insured under this 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 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 Com y shall be subrogated to such rights and reme 'es in the proportion which said payment bears to the amount of said loss. It 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 - out the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. II 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- ished 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 M7.E SEARCH AND EXAMINATION AND FOR TITLE INSURANCE. OS -391 NORTH BROAD l a Z, RFNTON 2m r 2n x nm s nr �O m °o O F ro _ N C1 D y 2� GO ') In y D D r 02 Ct m z ° uCi D n0 O C � 2N —t 2 KO O ST o WAY °eM \J m N O _fm In I�1m a ® _OZ O N r m XG . O m 12 51 N 0 m � • ,D 4� N L , G 'a0c u w ¢ >a i021L LIS p b PP - � o 0?j2iOHO a - ItNr+ U •' IIB I� o b r I O °° I 6D. I m Np 110 U m N O b m so NAPSAOEJ I3. 10 » ss E 29A.) an ^ N x D m p O 8 It N O w �O 1T1.10 ,E • � N ?m v N — 1L .9 a _ 1223 ^_ I�Iy •''t 5 - e N14�c ° Jo (, 1 O b v4„ I. m r ' dlNaO�l,dO. 0 0 LVI N "This plat is for your aid in locating your land with reference to streets and other parcels. It is not a survey. While this aaeunrr: plat is believed to be correct, the Company assumes no liability for any loss occurring by reason of reliance thereon." mu SECURITY TITLE INSURANCE COMPANY FRESNO COUNTY NAPA COUNTY SAN LUIS OBISPO COUNTY Fresno Napa San Luis Obispo Phone: 266 -9721 (209) 1370 Second Street 1043 Marsh Street Mariposa Street Office Phone: 226 -3727 (707) Phone: 543 -8211 (805) 1927 Mariposa Mall Fresno Title Office ORANGE COUNTY SAN MATEO COUNTY 1234 L Street Santa Ana Redwood City 825 North Broadway 749 Brewster Avenue Phone: 547 -7251 (714) Phone: 369 -6771 (415) IMPERIAL COUNTY El Centro 654 Main Street RIVERSIDE COUNTY SANTA BARBARA COUNTY Phone: 352 -2011 (714) Riverside Santa Barbara 3602 University Avenue 1014 State Street KEEN COUNTY Phone: 684 -1400 (714) Phone: 966 -6131 (805) Bakersfield 1424 17th Street Phone: 327 -5785 (805) SACRAMENTO COUNTY SOLANO COUNTY Sacramento Vallejo RINGS COUNTY 2028 K Street Phone: 441 -5341 (916) 840 Tuolumne Street Hanford Phone: 643 -4521 (707) 208 West 7th Street Phone: 584 -3381 (209) SAN BERNARDINO COUNTY San Bernardino STANISLAUS COUNTY LOS ANGELES COUNTY 480 Court Street Modesto Los Angeles Phone: 889 -3531 (714) 920 12th Street 3444 Wilshire Boulevard Phone: 523 -4521 (209) Phone: 381 -3111 (213) SAN DIEGO COUNTY MADERA COUNTY San Diego TULARE COUNTY Madera 1301 Third Avenue at "A" Visalia 129 South Street Phone: 232 -4031 (714) 119 South Locust Street Phone: 673 -- 3553 (209) Phone: 732 -4761 (209) SAN JOAQUIN COUNTY MERCED COUNTY Stockton VENTURA COUNTY Merced San Joaquin County Abstract Office Ventura 1944 M Street 217 North San Joaquin Street 2660 E. Main Street Phone: 722 -3911 (209) Phone: 466 -5821 (209) Phone: 648 -2864 (805) Security Title Insurance Company policies are also written in the counties listed below and in the State of Hawaii. ALAMEDA 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) CALAVERAS 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) MARIN COUNTY SANTA CLARA COUNTY San Rafael San Jose Pacific Coast Title Company of Morin 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) SANTA CRUZ COUNTY Santa Cruz Penniman Title Co., Inc. 1537 Pacific Avenue Phone: 426 -1711 (408) MONTEREY COUNTY SHASTA COUNTY Monterey Redding Coast Counties Land Title Company Redding Title Company 439 Tyler Street 1601 Pine Street Phone: 375 -2262 (408) Phone: 241 -6363 (916) PLACER COUNTY SONOMA COUNTY Roseville Santa Rosa Fidelity Title Company Northwestern Title Security Company 424 Vernon Street 439 College Avenue Phone: 782 -3731 (916) Phone: 542 -5185 (707) SAN FRANCISCO COUNTY San Francisco Northwestern Title Company of San Francisco 3557 Geary Boulevard Phone: 752 -4770 (415) TEHAMA COUNTY Red Bluff Northern California Title Company 349 Pine Street Phone: 527 -5421 (916) HUMBOLDT COUNTY SANTA BARBARA COUNTY STATE OF HAWAII Eureka Santa Barbara Honolulu Humboldt Land Title Company Santa Barbara Title Company Security Title Corporation 6th & "I" Streets 21 West Carillo St. 125 Merchant Street Phone: 443 -0837 (707) Phone: 966 -3975 (805) Phone: 562 -326 (808) SECURITY TITLE POLICIES AND SERVICES ARE AVAILABLE IN THE COUNTIES SHOWN ABOVE 1 A A NN O . Z m D CD ° e 0 0 3 C VQ N D 0 pl D x o S, N a CCD Z m 3� m m� ti a v% N CD CD r4 ci � o �C �C •C O 'o T y o n o ^ ^ O a A N 3 t ei CD D d y c z w a m j P Y >r i i Y i d C11 Y M SAN 1140- 13 031S TO CALI F®]E NIA 93401 f ! H` C I T Y A T T 0 R N E Y 990 PALM STREET 543 -8666 April 262 1968 ;sir. Richard Perry Union Oil Company P. O. Box 2947 Los Angeles, California. 90054 Dear Mr. Perry. We have been advised by Mr. Felton Ferrini that an agreement has been reached by his parents, Mr. and Mrs, Alfred Ferrini, and your company relative to a new lease for a new service station to be constructed at the corner of Broad Street and Foothil]LBoglevard in this City. We also have been advise t Union Oil Company, as a part of the negotiations for the new lease, agreed to relinquish all rights under the old lease and further agreed that no claim would be made by Union Oil Company to the City of San Luis Obispo for compensation for any leasehold interest which you now have in the property described as Parcel 2 on Exhibit A hereto or any adverse effects on the existing improvements, provided all necessary permits required to authorize construction of the new service station on the site are issued by the City of San Luis Obispo. Accordingly, the City of San Luis Obispo has opened an escrow with the Ferrinis at Security Title Insurance Company on Marsh Street in this City to acquire the property needed for street widening purposes, which escrow is scheduled to close on May 10;_1968 assuming all required permits have been issued by that date and with the understanding that complete plans for the new station will be in the 11a lids of our Building Department by Friday,__May_ 1%• the terms of the escrmv, thee._ I .X S:;.n L'uJs Oi,:.si:c i y- C7.''J. '1:'r. r,, p: a -n ,-elate 6 p J` F • !•_C7 dc' 1, ay shown on your plot plansubmitted with 'you"r'appliaation ` fuI "a use permit: In accordance with our discussions with the Ferrinis, we understand that you have no objection to widening the easterly ramp fronting on Foothill Boulevard from 30 feet to 35 feet so that an existing 15 foot ramp in front of the former liquor store property adjoining the service station site can be eliminated. !f'or 1, r� . /1 ' 'Jj ' A li �� I M I n r •`"' L_Y !' ;a J4 C �f . r Mr. Richard Perry April 26, 1968 Page 2 Although we have been in touch from time to time with Mr. Marty Wachtel of your company and believe that the foregoing is fully consonant with his discussions with the Ferrinis, we would appreciate it if you would confirm that the above arrangements have the approval of your company by signing in the space provided below so that the closing date of the escrow will not be delayed. Mr. David F. Romero, our City Engineer, may have a proposal ready for Mr. Wachtel's consideration early next week which would make it possible for your company to receive a lump sum payment for the street improvements required on condition that your company install such improvements within the next ninety (90) days. However, I did not want to hold up this letter until Mr. Romero could firm up his proposal. Very truly yours, Harold Johnson City Attorney Acceptance The foregoing arrangements are acceptable to Union Oil Company and, in consideration of issuance by the City of San Luis Obispo of all required permits for constructing the new service station and installation of the required public improvements at the new right -of -way line at the corner of Foothill Boulevard and Broad Street without expense to Union Oil Company, Union Oil Company hereby waives any and all claims against the City of San Luis Obispo for compensation for and all of its right, title and interest in the real property described on Exhibit A hereto. HJ :mp c. c. Marty Wachtel Enc. of CaXifoifnia B 00- Alf en a r. Title :Gene. Mana er Di ional Sa s LI Date: 1 d / d !.'X ii: i ll' i)%' 1116. .a'ail'lla•il j)J. )iWCC',' l tIiv (.11•, it Sall l,lilti ()bltill!), (.Ull(Ity - u: Sln Luigi Uaispu, 541tc �,;' CGil�furltiu Cv wu: A . portion of tlly lwrthcast quarts,: f :pact: jn 27, 30 South, Range iZ East, Mount Diablo Mer.-tian, ac- :ei;iing to . -e ou,, .1 plat or plats of the surrey of said :and returned to the General i,snd O: ice by the Surveyor General.. The property is More particularly de - k:ribed as follows: Bcginning at the \ort.Iwest corner of Mount Pleasanton Square \o. 2 accozdlng LJ a Wisp r,0c.Or4Cd �lav 21 192J, iri OOA ;j !ii .ap i, at Page iO4, . ri:ci?rlls of -.116 COlin[-; thence SoUGicasteriv aion­ i::c ' %VvsL properly il;'C vi ViiOrrt) SiricL a dls;ance Of 7=, 15 feet to a point; ticilic Uhl a curve to t.flc :i;;Ce jt tan-C::- LO last C1Cscribcd ilne, whUI a ra Qi;:b U i=,4.0 i ItuL U. Ji; 4l an i2?:`.,'ie of 2h` 23' 43" fora length of 68. S5 fret Z(-, Crd' �N7L:sturiy liLc of molillt Pleasanton Square \o, 2; ulCncc Norcheriv alorj said line a dastancc of l ".li feet more or lQss to the point of beginning. Containing ,009 acres, more or less. Parcel 2: The following described property in the City of San Luis Obispo, County of San Luis Obispo, State of California to wit: A portion of the Northeast quarter Of Section 27, Township 30 South, Range 12 East, Mount Diablo Meridian, according to the official plat oz plats of the survey of said land returned to the General Land Office by the Surveyor General. The property is more particularly described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3 of Maps at Page 104, records of said County; thence Southerly along the West line of *.fount Pleasanton a distance of 10.00 feet to the true point of beginning; thence Westerly along the property line of Foothill Boulevard a distance of 163.00 feet as recorded in a deed in Volume 560, page 152, Official Records; thence Southerly along the East property line of Broad Street a distance of 20, 97 fee �, r t; ti.cncc N:irC:t.) stcrly on a curve YLiP.�Ti P.I LO last desczibC:d "Inc; H"ltC: 3 radius of 1-l:il;) i�'vf. ti ?fQG:4 "il i.i: a:; iC' 73 U: 1° J.]' for r LlIc.'_ce iasteiy - . art (80.. . CC" - %a ri i..r� Foathjl 1 ' Ciir: v C2ifli:Cc e 0 ti ix .l.il1 J; L an c V. %ii %' ..i:.: ij. i_'tit ::..._ J: '•' .. �- _ \ lip .Qr a ..: is un .•. Vi_.:1L :i:n su P:. G:I uarc' ��. 1; :,.:iCr:c;C" .. :'r` o °7", ou .. ii s�;x • 5:;� -''- , No. 2 a is :nr•_ aI ` ' J • "'; (_ny - - - � t to lF1e t.':ic: i,01.; It Ci L.V. .w.l. -1 .:`� u. / CIa ti n� F � n Iri Cb 0 0 � n � y rya � r o o �A � Co 4 N ►� orn �1 t �• -• ut t Y^- i• BROAD I n u n n V��0 W ►`d:b n u u O ,w v J� .1 i.a W a N 0 v 1 / i / t / r /v � � r o f\ � o � O � %I 1 / i / t / r /v r N�CYpPrV TITtN '' ESCROW NO. F// L RECEIVED OF- SAID FUNDS TO BE CHECK CHECK CASHIER'S CHECK TOTAL Countersigned E-270 (GS) 1 /68 RECEIPT ,,ZEC2 ONLY NOT FOR CURIE GENERAL OR OTHER CLAECKS ITED TO THE ACCOUNT OF $ / A J-5 A 6182 DATE F I9L- OTHER SECURITY TITLE INSURANCE COMPANY IL O V N W X O H 4f 21-91 R. eHS ESCROW INSTRUCTIONS Escrow No. M03 4 lab Mdqo Office SECURITY TITLE Date qOW12 25 '1968 INSURANCE COMPANY I I= hand you 09rA . to =View ra U= VMVh%W prim 00 MID FgW�..M��.I�, co, VI a 0i3M.oc�� .. ��sY�e41�i,�'1, �O•N� 2 s 470 *00 which you are instructed to use when you are able to procure a standard form Policy of Title Insurance, issued by your company. 'in its usual form containing the printed exceptions usual in such policy, with liability not less than S qQ0000 .' on the following described property situate . in the Car or sm tale , County of SM &QU Mqp State of California showing title vested in ( j ,p Subject to: 1. Taxes ,for the fiscal year including. levies for any district such as, but. not limited thereto, drainage, irrigation, road improvement, acquisition and improvement, fire protection, etc. 2. Bond — assessment 71�f3 with no delinquent payments, and with unpaid balance of principal not to exceed S 3. Covenants, conditions, restrictions, reservations, easements, and rights of way of record (if any), �` H V'. SI -.N: +'. ..if :, �. -Gi -'Rl ..i.i }9.!`. �,t !i - .Iti :'1 �:i - •.i •. :a. •y . t,i� - •, s)n 2 :: - t it , :7 - .y >,]i ' n� 1 i(1 _ T V' FJ !i}.L 1.. �, •. ..y N. •'Fa' �' .: id. a.Rl. !�N: • ♦ i altR... 'O.: 3 s.i :'u.. !t s,a 1.cG 4i• •:I ''.Y:, sr"wf >'.,:.a r,i r•♦_^ .11 . 3•.. '.. CK 3 .:.', . -.:F 4'F..vt y,.,.. i -:. .•.`i. {ip-•. .;f � f,y. s1: . ?.. .I :iF. .r � :!wiy .i :�.. :.w. �• i1* i:•r. ;aiNl• t � •.�.i •r� .t . 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W • ON asuaari s,aaijoag S jo lunouie aql ut uo!ssmnuoo a Ei Sad •Z pagtoads aaljeaaaq so sa jutp inoS lonpap pup am of ajgga2asgo saauanpe zoj jjasinoS asingm!ag. •j smoljoj ss lun000s Sm aoj spun; asings!p moaosa jo asojo lV suogonalsa p!ns gl!m Sldmoa of sluamnuls •u! paoaaa pup Sauom aql asn of palamism am noA •moaasa sup of sanjed raglo Sq painaaxa aq of aag se 'Sus j! siaded guns 2uridaoxa anoge se apt 1 1saA of paa!nbaa siadsd noA pupil jl!m I •panoadda aap suoponalsui anogs agZ siaguinN auogd sassaappV siaSng :M s*w QOJ air Sad of aaa2u I •joaaaq suual agl uodn paglaosap u!amtj Slaadoad agl Snq of saaa2p aaSnq aq1 pun Ijas o1 saaa le aajjas aq1 •ajps a o1 mpi suoporuisui asagl jj Sgaaagl paiaa ;pi sa!laed He Sq gunju► m aae& ssajan tioaasa on p m iaa ;;a Sae ;o aq Begs 4gdea2eaed 2al08aao; aqi qi!m aauep=oaae m apem uonejjaauea ao; puemap a idaaxa 'sno!lanaisui ;o a8»ega ao pu map laanou oi�j •suo!ianaism asagi aapmi Suj!q!saodsaa anoS of IIo!1irppe m Amp so li!j!geg Sae aleaaa ion swop 6suonanaism asagl xplm aaue!jdmoa luaeaad iou op giaej gans papjAOad iSiaadoad aqi 2m1oa ;•pi s.iallem ;o a8pojAtotg anoA •Sjdmoa of uan!9 sSap ;o polaad jen!ui aqi aaip noS papueg iou s! suo!lan.iisui asagl gl!nt pa!jdmoa Sjjnj aeeq jlegs uaqi oqm 11aed Sue Sq jaauea of puemap uall!aeA pap!AOad pannbaa aq Sam se amp jeuolllppe pup suo!larulsu! asagi ql!m Sidoa of ga!gtA glm aeeq noA ` Amvd[ IO3 HaNVIMSM 3'UU AIIHfljaS jo 31aaga Sq appm aq of aae sivamasangs!p HV •palanllsuc ascnuaglo ssajun gtuow Sep % u 3o scsuq aql uo palndwoa aq o7 ace suoprioid 11d •noS papurq luamalms sad se of sivaa aoupepa alpaoad :V S aq of ao"uvjgq P!gdulj C= of lua2V aragi so alou jo aaplorl jo luamalals uo paseq usoj no lsaaalu! alpaoad :E 01 alpaoad •pagagnB sasnajo aa2p23aom aadoad ql!m 'nol papuaq se ` gQpQ g aoj aoueansui iaglo pug aa!j (aapuaj) -am) of aaA!ja(I :Z •saxel luauno jo lunomg 2u!pap2aa uo!lauuojui ql!m noS gs!uanj olaaaq sapaBd ssajun •luamalmis xml lsalml aql uo pasaq ` 01 `PaSaeu03 lou Slaadoad lauosaad ldaaxa `jl!q xsl uo 2uuuadd8 soul! jja 2u!pnjaux saxvj, alBioad :j (piooai aoj pal!j aim saadud Sup aql uaam jjsgs «.NOaas3 ;o asop „) Ij!m noS pasojo st moaosa aaljV saanam Slg!ln o!Ignd iagio so sjj!q aalgm o!lsamop ql!m jlasinoS vaaouoa lou Ulm noA • of pled sll!q pup sluamssasse gllm (aa2pold Sm su `iapuaj)--am of pauajsunal Sjnp 'Susdmo3 JO 3jools aaimm jo saaags (aapuaj) —(am) of aaA!jap upa noA vagm `pus 0 PARCEL 1: That portion of Lot 10 of Mount Pleasanton Square No. 2, in the City of San. Luis Obispo, County of San Luis Obispo, State of California, according to map recorded May 21, 1928 in Book 3, page 104 of Maps, described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3, page 104 of Maps; thence Southeasterly along the lest property lire of Chorro Street a distance of 71.15 feet to a point; thence on a curve to the Northwest tangent to last described line, with a .radius of 14L.00 feet through an angle of 26° 234 43" for a length of 68.85 feet to the festerly' line of Mount Pleasanton Square No. 2; thence Northerly along said line a distarice'of 18.11 feet more or less"to the point of beginning. PARCEL 2: That portion -of tl:e Northeast quarter of. the Northeast quarter' of Section 2I, Township 30 South�'Range 12 East, Mount Diablo Base and Meridian, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to the official plat of the survey of said land approved by the Surveyor General on Noveaber 30, 1867, more particularly described as follows :' Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded 'May 21, 1928 in Book 3, at page 104 of Maps; thence Southerly along the West line of Mount Pleasanton a distance of 10.00 feet to the true point of beginning; thence Westerly along the property line of Foothill Boulevard a distance of 163.00 feet as recorded in a deed in Book 560, page 152 of Official Records; thence Southerly along the East property line of Broad Street a distance of 20.97 feet; thence Northeasterly on a curve tangent to last described line with a radius of 111.00 feet through an angle of 890 534 for a length of 21.75 feet; thence Easterly parallel to Foothill Boulevard a distance of 130.61 feet; thence on a curve to the right tangent to last described line with a radius of 144.00 feet through an angle of 70 314 17" for a length of 18.90 feet to the hest line of Mount Pleasanton Square No. 2; thence Northerly along the West line of Mount Pleasanton Square No. 2 a distance of 8.11 feet to the true point of beginning, seeuwrry SECURITY INSURANCE CC o. L ESCROW INSTRUCTIONS Escrow No. BL2 3 do Son Dab ObIM Offi TITLE Date April , 1968 e I M PANY I trill hand you O&OP to emalete a total. V=bMW FwUe., OOW Feral Lo. I - 013M,00 PQplu��'cre�•�lr.rr.. �00.�, 2 • Z►'� oo 17R7ri4 fts- 3W#OD l - which you are instructed to use when you are able to procure a standard form CimC= Policy of Title Insurance, issued by your company in its usual form containing the printed exceptions usual in such policy, with liability not less than 8 GOD on the following described property situate in the City or SM UAU OX890 County of Mm ULU Obloo State of California r Js.+iF 1i— .r. -,; :a jt:ri showing title vested in CM 07 EM LMS camov g MMiCV" Subject to: 1. Taxes a=, gy gan nor the fiscal year196.r6Q including levies for any district such as, but not limited thereto, drainage, irrigation, road improvement, acquisition and improvement, fire protection, etc. 2. Bond — assessment with no delinquent payments, and with unpaid balance of principal not to exceed 8 3. Covenants, conditions, restrictions, reservations, easements, and rights of way of record (if any), tj - vY u.nt X r.9777 rr_ti.p ;17- • •_�� j• r. _ .w. - i-ti .¢ d�n+t13 .LO .ICr i:.i .0 !• .L, ` a s .ir %. 4 'nf p i 1 •:!': f 4.:• C]1i;♦ .1• 1.. • Q'C. I SINr.. •/+ a .'.i i r ' .? .1♦ ii }. /4an . N ar 1 .aa:o :Y. `+.1. :3 ♦.1 as i.,: ?..i. ui .> ak a %� r tit. •1 ♦ : t�,a• �• G�• +n M. J�. rI1 .I• :A1,IY .il .. �' . 1.4r -u a4.i - �i. • ♦ A' .0 d:w ,.: = +N�a - ,j i' ('D :YArfIl •..+.r .la 1.(:i a '+ j:: r te ? ,rY . ." r1• r - j-: .: }:.•� •1• .ii .1° :J'i •1tY I. 6. .r'. :� •1, -•Ir.W "s _ 11 .2 -.r '. •rte 0 1 • att.._ il• +:.cl+ i - _ .nr 1r .r. /, MI. .) c r i> a r+;= a_+N'c,WCrC .•..: . i u0. r ryj.c ♦r' wC.tlN - _ M. •ta r! .''. 1.' �r •.� r!a ! r. - r :ta•. aI - •'••. Y, 1!:: r` ,r..a 11' .1.:'c. sl tY . -�.i: i .1♦ 31 �. j � C: • �I.- .�rl :f s.� • ^u vN. - h A• ^Y..ru:. Y E o n - - ^r•� t - � .• - i C ' ,j p.GY .r,.' a h ♦.. `a. - ! / i7L �• : E -40 -L M fG.S.) Fpv. 2 -67 r 1 ` and, when you can deliver to (me)— (lender) VAM shares of water stock of Company, duly transferred to me— (lender, as my pledgee) with assessments and bills paid to . You will not concern yourself with domestic water bills or other public utility matters. After escrow is closed you will ( "Close of Escrow" shall mean the day papers are filed for record). 1: Prorate rNTM Taxes including all items appearing on tax bill, except personal property not conveyed, to based on the latest tax statement, unless parties hereto furnish you with information regarding amount of current taxes. 2: Deliver to (me— (lender) fire and other insurance for $ t7dltt' , as handed you, with proper mortgagee clauses attached. Prorate to 3: Prorate interest on loan based on statement of holder of note or their Agent to Z3 Unpaid balance to be $ 4: Prorate advance rents to > as per statement handed you. All piorafions are to be computed on the basis of a 30 day month unless otherwise instructed. All disbursements are to be made by check of SECURITY TITLE INSURANCE COMPANY. You have ltdl S/ 0/6kkO within which to comply with these instructions and additional time as may be required provided written demand to cancel by any party who then shall have fully complied with these instructions is not handed you after the initial period of days given to comply. Your knowledge of matters affecting the property, provided such facts do not prevent compliance with these instructions, does not create any liability or duty in addition to your responsibility under these instructions. No notice, demand or change of instructions, except a demand for cancellation made in accordance with the foregoing paragraph, shall be of any effect in this escrow unless given in writing by all parties affected thereby. If these instructions refer to a sale, the seller agrees to sell and the buyer agrees to buy the property herein described upon the terms hereof. I agree to pay 1/2 eBCr v Ow Fy: BAY: Phone Numbers The above instructions are approved. I will hand you papers required to vest title as above, excepting such papers, if any, as are to be executed by other parties to this escrow. You are instructed to use the money and record in- struments to comply with said instructions. At close of escrow disburse funds for my account as follows: 1. Reimburse yourself for advances chargeable to me and deduct your charges as hereafter specified. 2. Pay p a commission in the amount of $ Broker's License No. . Mail check to him at 3. Pay demand of tW= Whose address is 4. Pay balance to Aw Le FBM= =d =1 & and mail check to (address) C/o trM=T s31da 17 Ci1Arm St.# Gash Uie QlWs CRU $34M I agree to Pay • •.N 1I: �.,1 .V r.:.n110� AttacbsbandmC1111 Stamps to deed in the amount of $ i1.00 A* Lo Ferzl= 1>lI8 a. a Addresses Phone Numbers 1_ w PARCEL 1: That portion of the Northeast quarter of Section 27 in Township 30 South, Range 12 East, Mount Diablo Base and Meridian, in the City of San Luis Obispo, County of San Luis Obispq, State of California, according to the official plat or plats of the survey of said land returned to the General Land Office by the Surveyor General, more particularly described as follows: Beginning at the Northeest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3, page 104 of Maps; thence Southeasterly along the West property line of Chorro Street a distance of 74.15 feet to a `point; thence on a curve to the Northwest tangent to last described line, vith a radius of 144.00 feet through an angle.of 260 23' 43" for a length of 68.85 feet to the Westerly line of Mount Pleasanton Square No. 2; thence Northerly along said line a distance of 18.11 feet more or less to the point of beginning. PARCEL 2: That portion of the Northeast quarter of section 27, Township 30 South, Range.12 East, Mount Diablo Base and Meridian, in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to the official plat or plats of the survey of said land returned to the General Land Office by the Surveyor General, more particularly described as follows: Beginning at the Northwest corner of Mount Pleasanton Square No. 2, according to a map recorded May 21, 1928 in Book 3, at page 104 of Maps; thence. Southerly along the West:line of Mount Pleasanton a distance of 10.00 feet to the true point of beginning; thence Westerly along the property line of Foothill Boulevard a distance of 163.00 feet as recorded in a deed in Book 560, page 152 of Official Records; thence Southerly along the East property line of Broad Street a distance of 20.97 feet; thence Northeasterly on a curve tangent to last described line with a radius of 14.00 feet through an angle of 890 53' for a length of 21.75 feet; thence Easterly parallel.to Foothill Boulevard a distance of 130.61 feet; thence on a curve to the right tangent to last described line vith a radius of 144.00 feet through an angle of 70 31'17" for a length of 18.90 feet to the West line of Mount Pleasanton Square No. 2; thence Northerly along the West line of Mount Pleasanton Square No. 2 a distance of 8.11 feet to the true point of beginning. A.V. MULLER WICKSON R. WOOLPERT WM. P. MCWHINNEY MULLER, BRAZIL, WOOLPERT,. MCWHINNEY & DUENOW ATTORNEYS AT LAW 1043 PACIFIC STREET POST OFFICE BOX N1086 x!(19 6 v/ / SAN LUIS OBISP07 CALIFORNIA 93401 February 23, 1968 Mr. Harold Johnson City Attorney City Hall, 990 Palm San Luis Obispo, California 93401 Dear Mr. Johnson: TELEPHONE 543 -5060 This letter is in reference to the Ferrini corner involved in the city street widening program. We write to you, knowing the matter is subject to litigation and that as a part of the negotiations procedure you will relay our clients' position to the interested city officials. You have advised us that the city has an appraisal which suggests the following valuation: $4.00 per square foot for the area immediately in front of the service station, and slightly less for the remaining area to the east; nothing for severance damages. You did not show us the appraisal and therefore we can only surmise what its basis may be. We were and are very surprised at the square -foot valua- tion, not realizing that a service station site in the city on a much traveled corner could be purchased at such a low figure. It is our impression that $6.00 to $8.00 per square foot is much more in line with current sales of such sites. Good appraisal technique demands that com- parable properties be considered, restricting our situa- tion to corners used or usable for service stations, with a fairly high traffic count. Mr. and Mrs. Ferrini have every intention to do whatever is reasonable and fair to cooperate with the city and Union Oil to reach a three -way agreement, including mak- ing concessions, if reasonable, so as to avoid the city setting precedents which might be embarrassing insofar as future street widening negotiations are concerned. There- fore, as to the square -foot valuation, they are willing b 7 [� Mr. Harold Johnson Page 2 February 23, 1968 to accept the suggested figures if they are properly com- pensated for what is traditionally called "severance damages," but which may properly be termed "costs of re- moval or rehabilitation" in this instance. We know the city does not want to set a precedent as to "severance damages," though it must be obvious to all that as the more strategic properties are approached for street - widening purposes there will be severance damage problems. We are writing somewhat at length because our clients do want their position to be fully known, and hopefully, appreciated. Please consider the following: 1. The present station was constructed by the owners and is owned by them, making it somewhat unusual in that most owners have lease arrangements whereby the oil com- Danv bears the costs of the improvements and wouIdTe- be a principal to negotiations involving any loss of the full use of the improvements. In this situation our clients have five full years left of their present lease with the utility of the present station undoubtedly being for even more years. By virtue of the street - widening program and the adjustments necessary to the station, the city would have to bear at least $5,000 in expense (whether to Union or to Ferrini), and this would be with- out consideration for what this would do to the future demand for the site under its reduced size (after the Union Oil lease expires). Therefore, because of the street - widening pro- gram, and because of the Ferrini willingness to negotiate a new lease with Union Oil under somewhat involuntary con- ditions with obvious pressures to avoid litigation and uncertainties, they are being asked to give up the remain- ing life and value of the present station. For income tax purposes this remaining life has been set at $8,750.00. We wonder if your appraiser considered this loss? To con- sider it and then to discard it would mean he would have to suppose that the station will remain, but then he would have to consider the costs of removing pumps and the effects of their removal and relocation on existing park- ing, which we understand would be at least $5,000 for relocation and an undetermined value insofar as parking is concerned (plus the ultimate effects brought about by a reduced service station site size and its value on the market at the expiration of the present lease - -or even Mr. Harold Johnson Page 3 February 23, 1968 worse, the dollar value to the owners if the present ten- ant exercises its right to terminate the lease the moment there is interference with the present facilities). 2. Because of their attempt to work out a solution which will satisfy Union Oil, the Ferrini position was that they would give a new lease for 15 years. This was rejected and a term of 20 years required. Thus, the owners will tie up their property for an additional five years over their prior lease and what they would ordi- narily want. In addition, they will be required to give Union Oil a "first right of refusal," which means that their freedom to sell the property will be reduced since no buyer can be assured of a purchase unless able to out- bid Union Oil. These concessions to Union Oil are neces- sary to protect against Union moving elsewhere in the neighborhood and leaving the Ferrinis with a station and site not nearly so attractive to offer to some other com- pany. The consequences are directly due to the street - widening program because under the conditions the new sta- tion must be constructed by Union Oil and the company policy requires a 20 -year depreciation period and a pur- chase priority agreement. Thus, for Union Oil it is neces- sary to have 20 years to use the buildings it constructs, yet for the Ferrinis they are asked to destroy their building with years less use. Our understanding with Union Oil is that the Ferrinis being the owner, they will seek proper compensation for any effects on the existing improvements and Union will make no demands for itself other than to insist that before the new lease (and its new provisions) becomes effective all building permits are acquired. 3. The figure of $5,000 was mentioned by Union Oil as a probable cost of changing the pumps and island, etc., (but limited to the effect on Union Oil alone). Our clients are willing to settle the entire matter for that amount over and above the square -foot amounts set forth in the Gist appraisal. That is, though the Gist figures seem considerably below the market value of the land involved, if the city prefers to use such low figures the Ferrinis will not complain if they receive $5,000 severance damages, or if you prefer, as "costs of relocation." If condemnation were to follow, it is crystal clear that the city would have to pay Union Oil at least that much for Mr. Harold Johnson February 23, 1968 Page 4 the removal costs. The Ferrinis would have a separate claim for the "value of the take" and any other severance damages (to this corner lot and the adjacent lot, for effect on highest and best use of both lots, for reduced access and utility of the two lots as adjoining busi- nesses, as well as for costs of relocation and rehabili- tation of existing buildings to the extent not allocated to the tenants), 4. We believe Fred Gist to be a competent appraiser. Therefore, we must assume that his appraisal was not given for purposes of testimony in court, but instead pur- posely includes considerations which are not admissible in court, such as the rezoning of the parking lot next to the Dairy Queen. And even if this is true, an appraisal should include at least three points: (1) value of the land being taken, (2) severance damages, if any, and (3) offsetting benefits to the remainder as a result of the taking. There is no room in the foregoing three points for considering the rezoning of the parking lot, except for purposes of settlement. If the matter goes to court the city would not be able to offer the rezoning as a partial payment, especially where the rezoning probably is warranted anyway. This is not to say that for purposes of settlement the rezoning is being disregarded by our clients. To the contrary, it is important in minimizing their damages and making it reasonable to agree to Union Oil's demands. The rezoning does make it possible to agree with Union Oil that under the long term new lease they will be assured of parking, though this may require using some of the space in the adjacent property. It makes it possible to permit Union Oil to locate its new station building much closer to the adjacent Ferrini -owned beauty shop premises, possibly requiring new entrances, remodeling or even a destruction and rebuilding of the adjacent improve- ments. Without the rezoning this freedom of making new uses of the adjacent property would be lost. 5. The adjacent premises (former liquor store) are being kept vacant at some loss of rent pending a solution of the entire matter For the o vious reason that we will not know what should be done with that building until we know the fate of the present service station building. We feel sure that there will be some loss of parking as to lb- Mr. Harold Johnson Page 5 February 23, 1968 this adjacent parcel and the driveway between the two buildings will be either reduced in size or eliminated. No actual costs of rehabilitation or relocation can be given to you because we do not know what will be required, whether by settlement or condemnation. Therefore, at some length we have tried to illustrate why our clients cannot accept the sums suggested by the Gist appraisal, even with the rezoning. The city must know that in court a higher square -foot value would be set for the frontage which is involved, and removal costs would be substantial, all of which is aside from any traditional "severance" damage to the owners. We have attempted to suggest good reason for increasing the amounts involved by at least $5,000, whether as increased square -foot compensation or costs of relocation, or both. This we believe to be separate from the rezon- ing, which is given importance and value by our clients in their willingness to waive a dollar claim for the loss of service station parking and movement of the new sta- tion toward the adjacent parcels so as to interfere with their use, as well as the probable costs of rescuing the adjacent beauty shop building and the mentioned longer term of the new Union Oil lease. We emphasize too that our agreement with Union Oil makes it unnecessary for the city to compensate Union Oil for its tenant's interest in the property nd thus you may consider all or part of the additional y$5,000 as being indirectly due the tenant. it is essential that the matter be quickly resolved. Very ruly you '"i WRW:cp WICKSON R. WOOLPE T cc: Mr. and Mrs. Alfred Ferrini