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HomeMy WebLinkAboutD-801 Johnson Ave. Widening Recorded 10/01/1968RECORDING RECI ;IE7 AND WHEN RECORDED MAIL TO NAMEFThe City of San LuisObispo c/o 990 Palm Street i _ ADDREHB San Luis Obispo, California 93401 CITY ,, LAttn: Mr. Harold Jobnson, City Attorney J Title Order No 775960 Escrow No715960mb MAIL TAX STATEMENTS TO NAME above address ADDRESS CITY 81 STATE TuArtsr =R TAy ��fa SAN LU:S OSI� :rOUNTY. RECORDER pan of SAN LUIS L -1 19508 r.:VOL1492. PAGE139 SPACE ABOVE THIS LINE FOR RECORDER'S USE . DOCUMENTARY TRANSFER TAV'i FIRST AMERICAN TI :• TL% G, I URANC & TRUST CO. BY Grant Deed THIS FORM FURNISHED BY SECURITY TITLE INSURANCE COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, STEVEN A. PETTERSON, a single man, AFm I.R.S. hereby GRANT(S) to the CITY OF SAN LUIS OBISP09 a municipal corporation the following described real property in the City of San Luis Obispo county of San Luis Obispo .state of California: DESCRIPTION:.,That portion -of Lots.22.and 231n Block.'3•of Breck Tract in-the City of San`Luis.Obispo; County-of San Luis Obispo, State of California, according to map_ recorded March 7,1922-in Book.3', page 1 of.Maps, described as follows:^ Beginning at the most Northerly corner of said Lot 22; thence South 36" 22' East along the Southwesterly line of Johnson.Avenue as .shown on the map herein referred to, 94.00.feet to the most•Northerly corner of the property conveyed to Andrew H. Holloway, et us., by Deed dated September 8, 1950 and recorded September 22, 1950 in.Book'579, page '536 of Official Records; thence South 50° 48' West along -the- Nortliwesterly line.of the property so conveyed 6.01 -feet; thence Notth 360 22' West 94.00: feet to the Northwesterly line.of said Lot 22.; thence North.50D 48' East along.said.Northwesterly line, 6.01.feet to the point of beginning. Containing .013 acres, more or less. Dated June 18, 1968 WITNESS: y}(�,yy -, ✓� Marilyn Perry STATE OF CALIFORNIA l SS. COUNTY OF SSn Luis Obispo } On before me, the under- signed, a Notary Public in and for said County and State, personally appeared known to me to be the person —whose name -------subscribed to the within instrument and acknowledged that executed the same. " 1. Signature of Notary FOR NOTARY SEAL OR STAMP Name (Typed or Printed) of Notary I L -1 (G:S.) (Rev. 8 -65) 8 pt. MAIL TAX STATEMENTS AS DIRECTED ABOVE 0 rj —i r co rn CID b ° 443 C 140 , (Witness) VOL 1492 PAGE _STATE OF CALIFORNIA 1 .:COUNTY OF San Luis Obispo T SS. On . June 20. 1968 before me, the undersigned, a Notary Public in and for State• personally appeared Marilyn Per , personally known to me to be the person O tsaid whose name is subscribed to the within Instrument, as a Witness thereto, who being by me duly sworn, deposes and says: --1 W That -she resides in Pismo Beach, California and that She was present and saw I ' = Steven A . Petterson personally known to her to be the same r� person_ described in and whose name is subscribed co, to the within and annexed Instrument as first Q7 F m Part y thereto, execute and deliver the same, and he acknowledged to said affiant that he-'=%'=t her �rar.._nxaat:ah:t:u:e>tramteert JoliNsom. executed the same; and that said a(fiant subscribed _•; -'name thereto as a Witness.'w�r,;:. „�.,. PLz -n_i:; Y't= UC— CAiifCiL`7A � _ .WITN y hand an ct se _ Sr1Iv Luis, O Signature HAROLD iOHNSW4 m Harold J n _ w tvOT Pvauc — CALIFORr,3A Name (Type or Printed) g PFUK WAL OFFICE IN AM 9!ftMM s =& mIs MUMMER M. 1970 i `T wlx °! mw • _ OL1492. PAGE1411 CERTIFICATE OF ACCEPTANCE arsrrsrsssssrss THIS IS TO CERTIFY that the interest in real property conveyed by the Grant Deed dated June 18, 1968 xl&c from Stevem A'..Petterson 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 May 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; October 1, 1968 CITY OF SAN LUIS OBISPO By ATTEST: ` ..,�';;,G� _ mayor , , RDocument No.- ' 19508 IS[ 9CRD T REQUEST OF _- �ys�IIN. VO PAST. —M. SAN LUIS OSISPO COUNTY, CAL OCT 1 -1968 W V. WASSONm Co. h mmm B ° Fee $_.. Indexed -- Cn rn Co N c� O aD sT AMER/ c I ` FAQ 92 October 15, 1968 First American Title Insurance & Trust Company 8 9 9.. P A C I F I C STREET - S A N L U I S O B I S P O . C A L I F O R N I A • S43-8900 City of San•Luis Obispo 990 Palm-St. San. Luis - Obispo, Calif. 93+01 Our Order No. 775960 mb Petterson- to. City-of_S.L.O.__:, We have completed the above numbered escrow in accordance with your instructions. Your recorded Deed will be mailed to you by the County Recorder within a short time. In the event your deed was recorded after -.the first Monday in March; we suggest that you list your property with the County Assessor in.order that you may receive future tax bills promptly. First installment of taxes becomes delinquent on December 10 and the second installment on April 10. The following fire insurance is being transferred to your name and will be mailed directly by'the insurance agent ( ) to the holder of the first loan on your property, ( ) to you. Policy No. Company Agent Amount Expiration We enclose the following items: XX Escrow Statement showing receipts and disbursements XX Check for balance due you per escrow statement, $5,60. Copy of Note'in the amount of $ XX Receipt for your deposit of.$573.15. XX First American Title Insurance & Trust Company> Policy of Title Insurance issued under the above number. If you have,placed a new loan on this .property, the original Title Policy is to be held by the Lender and a copy of said'Policy is enclosed for your convenience. In such a case, the Lender will supply you with a payment book and any information to which you are entitled. The following information is in connection with any loans of record: Holder: extra Unpaid balance $ , payment $ , interest included at Next payment due , Holder: extra Unpaid balance $ , payment $ , interest included at Next payment due , We' trust this transaction has, "been handled to your entire satisfaction, and- that.we may have the pleasure of serving you again in the very near future. Cori is ord Escrow 0 ficer MB:th encl. 2037 (6%65). First American Title Company S. 4,,61; California RECEIPT ORDER NO. 25-2/4 O Md Received from 48X kr' L� Check $ Check $ 1 Cash $ Cashier's Check $ Said funds are irrevocably credited to the account of to be used in connection with the above referenced Order First American Title Company By: Authorized Signature Date: S-'e 1`!5—, /,q 6 aocv Bank Name Bank No. ,J',6.d, WHITE— CUSTOMER'S COPY YELLOW — BOOKKEEPING COPY PINK —FILE COPY Account No. 4049(9/66) es� ANIER�c { ` y 0 0._ ='M � First American Titlelnsurance & Trust Company FINAL ESCROW STATEMENT OF: CITY OF SAN WIS- OBISPO Order No. 875960 mb IT Date: October 15, 1968 Property: Recording Date:. October 1, 1968 i Other Party - PETTERSON: Steven. A: Debits. Credits Sales Price 46 .00 Deposit Retained (Paid Outside:of Escrow) Deposit by B er 1 Deposit by Encurribranc6,of Record (Unpaid Balance) Encumbrance of Record (Unpaid Balance) First Deed of Trust (New) Second Deed of Trust (New) .Loan Trust Fund Assumption Fee Forwarding Fee Loan Charges: Loan. Fee Appsl. Fee Cred. Rept. Tax Res. Ins.' Res. FHA .Prem. Int. @ %From To $ Pay Tax Service Contract Fee to .. Pay Taxes Personal' Property Tax Pay Assessments or Bonds. Prorate Taxes From To on $ Prorate Fire Insurance From To on $ Prorate Int. @. % From To on $ Prorate Rent From To on $ Commission Paid To Paid.Demand of Reconve ante Fee ..10.00 Notary Fee Title Policy-Fee- 40.00 Escrow .Fee 50.00 Drawing Revenue Stamps .55 Recording Partial Reconveyance 2.00 Balance 'CHECK HEREWITH Totals - 1 573.15 5 THIS STATEMENT SHOULD BE RETAINED BY YOU FOR INCOME TAX PURPOSES - 1024 (2/67) P c 9 . t. First American Title Insurance & Trust Company FINAL ESCROW STATEMENT OF: CITY OF SAN LUIS OBISPO Property: Order No. 775960 mb Date: October 15, 1968 Recording Date: October 1, 1968 Other Party PETTERSON: Steven A. Debits Credits Sales Price 46 .00 Deposit Retained (Paid Outside of Escrow) Deposit by Buyer 571.15 Deposit by Encumbrance of Record (Unpaid Balance) Encumbrance of Record (Unpaid Balance) First Deed of Trust (New) Second Deed of Trust (New) Loan Trust Fund Assumption Fee Forwarding Fee Loan Charges: Loan Fee Appsl. Fee Cred. Rept. Tax Res. Ins. Res. FHA Prem. Int. @ % From To $ Pay Tax Service Contract Fee to Pay Taxes Personal Property Tax Pay Assessments or Bonds Prorate Taxes From To on $ Prorate Fire Insurance From To on $ Prorate Int. @ % From To on $ Prorate Rent From To on $ Commission Paid To Paid Demand of Reconve ance Fee 10.00 Notary Fee Title Policy Fee Escrow Fee 0.00 Drawing Revenue Stamps .55 Recording Partial Reconveyance 2.00 Balance CHECK HEREWITH Totals 573.15 573.15 mu ajwic a MOULD 09 RETAINED BY YOU FOR INCOME TAX PURPOSES 1024 (2/07) POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance & Trust Company FIRST AMERICAN TITLE INSURANCE & TRUST COMPANY, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A, hereby 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: 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 C, 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 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 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 Sched- ule B in the order of its priority; all subject, however, to the Conditions and Stipulations hereto annexed, which Conditions and Stipulations, together with Schedules A, B, and C are hereby made a part of this policy. In Witness Whereof, First American Title Insurance & Trust Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, on the date shown in SCHEDULE A. ��1SURANCF� First American Title Insurance dT Trust Company i�� E[ S w BY PRESIDENT ATTEST SECRETARY C QANGE R P. °� ACIFOT� Form No. 10842 American Land Title Association Owner's Policy— standard Form 8-1962 and CLTA Standard Coverage Policy Form Copyright 1963 Amount $ 465.00 SCHEDULE A Total Fee for Title Search, Examination and Title Insurance $_7Q+_QQ ----------- _____ Effective Date October 1, 1968 at 3:25 P.M. Insured CITY OF SAN LUIS OBISPO Policy No. SLO 775960 MB 1. 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. 2. The estate or interest in the land described or referred to in Schedule C covered by this policy is: a fee. California lend Title Association ' Standard Coverage -Policy Form Copyright 1963 Form 1084 -3 SCHEDULE B This policy does not insure against loss or damage by reason of the matters shown in parts one and two following: Part One: I. 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: 1. Taxes for the fiscal year 1968 -69, a lien not yet due or payable. Form No. 10564 All Policy Forms SCHEDULE C The land referred to in this policy is situated in the State of California County of San Luis Obispo and is described as follows: That portion of Lots 22 and 23 in Block 3 of Breck Tract in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map recorded March 7, 1922 in Book 3, page 1 of Maps, described as follows: Beginning at the most Northerly corner of said Lot 22; thence South 36° 22' East along the Southwesterly line of Johnson Avenue as shown on the map herein referred to, 94.00 feet to the most Northerly corner of the property conveyed to Andrew H. Holloway, et ux., by deed dated September 8, 1950 and recorded September 22, 1950 in Book 579, page 536 of Official Records; thence South 500 48' West along the North- westerly line of the property so conveyed 6.01 feet; thence North 36° 22' West 94.00 feet to the Northwesterly line of said Lot 22; thence North 500 48' East along said Northwesterly line, 6.01 feet to the point of beginning. i 1 i i y i f d c� l ln� G �2 .O yo2y P O 1 1 u r m V a soao 60 so a RUTH ST. a r ° o c 4 � n ,3 ,0 �m A N to v V1 ° T 2% Q _ as4 A 200 ]lA so M1a �V Ya ° i l ln� G �2 .O yo2y P O 1 1 u 8,♦ ''. S ♦ ,r. •0.+♦ soao Q s��,• n 1 Dal r Ng ° no 10 , m Y °' °• iii �� �� lAIRY/EW AVC. P _E9- N ST. Fg1RVIE�y N {! °48'M IO M �Su +'•O u ° 334.40 u i + of 144 04M cm � a0 , O ee; X60 to h $41 L. (!j O O o O Y o i- -- tl_ V p 30.10 11 .603 a.i i eb W —i _ a o OC Y u to Q • 30.10 r p I4 . 4` `•, ` o 30.10 y 11° 91• m ,_____ ID � v ��' • � N °' p + 1 Y b O 1 .O O O W 60 i also 1 )a 40 1 a0 6o 80 + - �- - P A y0•liy 9L1 6 9 w sl ° NaJOHNSON S3 ?` 'E 106-22" 50 O j 5 1118 60- 4a 18 .- a9 48 70 80 x6� 6 7i i I CA L VD R TR GT ' �� `. N I 0, irho BOO; z� O; n i ° o° O° I =i i m u • D w d a 1 p o :H eo ao ts.le �' y O e "' 1 ►1 'r Q ; EDNA -re - - - -- ST. -4 E T O D w � o fal �_ . Na9°xi � • zco �� ((( { {{ Soy 1 r O S N O O 6160 1 42 1 4a y1 cm y y MINI ST. < o - - - _. _ ........._._. __.._.. . CalBemfe lend Title Association Standard Coveretp Policy From Capyriy�f 1967 Farm 1086 1. DEFINITION OF TERMS The following terms when wed in this policy a) "laud": the land described, specifically or by raftsmos, in Schedule C and improvements affixed part crostrnctive notice of matters relating to said land,(c) ^ knowledge actual knowledge, not can - stivetive knowledge or tiotice which may be imputed to the Lamed b_y reason of my pnblie mounds; e) "mortgage": mortgage, deed of truer, trust ar other security instruments; and F) "insured-:' the party or parties named as d, and if the owner of the indebtedness secured rotgage shown in Schedule B is named as an d in Schedule A, the Inured shall include (1) uecenw in fnteewt in ownership of such in- ", . (2) my am& owner who acquires the or Interest referred to in this policy by fore - o, of said s or other legal ma^„er m satis- de�tedness, and (3) any federal or instrumentality which is an insurer or guar unA er an insurance contract or guaranty insin- goeranteeiog said indebtedness, or my part F. whether named as an Insured herein or not, t otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TITLE If an insured owner of the indebtedness secured by a mortgage described fn Schedule B acquires said estate or interest, or any part thereof, by ==mune trustee's sale or other l err satisf= tin or any part of said indebtedness, federal agency or instrumentality acquires said estate or interest, or my part thereof, as a consequence of an insurance contract or guaranty insuring or gain=- twin the indebtedness secured by a mortgage cov- ered by this policy. o say part thereof, this policy shall continue in force in favor of such Insured, agency or mmunm reof tyhe k m subject all of the con- and EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by mason of the following: regu- lation (including but law, as ce limitegd von building and caning ordiaaam) restricting or regulating or pro- bib iting the occup ancy. use or enjoyment of the land, o mgulatfa9 the character, dimensions, or location of any improvement now or hereafter erected on said or theg separation in ownership or a parcel of land. dmenaiom or area of any lot or (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 expressly described in Schedule C, or title to streets, avenues, lanes ways o waterways on which such abuts, or the right to maintain therein vaults, tunnels, ram or am other structure or unless this improvement; olicy sp therein provides that such property rights or easements are insured, except that if the land abut upon one or more physically open streets or highways this policy insures the ordinary rights of abutting owners for access to me of such streets or highways, unless otherwise excepted or as insured or worried or am Insured claiming loss or or (s ) Imawn 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 cy and not shown by the public records. unless thereof in writing by the Insured shall have been made to the Ckirapany re sulting i m loss to the Insured Clatp'ment; or (4)) attaching or created subsequent to the date hereof. (e) Loss o damage which would not have been sustained if the Insured were a purchaser or encum- brancer for value without knowledge. 6. 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 shell provide (1) for the defense of the Insured in all litigation consisting of actions o pro- ceedings commenced egaxnst the Insured, or defenses, restralnin6 ordms, o injunctions interposed aggayansutt a Eereclmore, or sale of the mortgage and indebted - ness covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may be appro priata ta establish the ti t4 of the estate or interest or the lien of the as insured, which litigation or action in any of an events is founded CONDITIONS AND STIPULATIONS upon an alleged detect, lien or encumbrance insured egainrt by this po11cY, and may pursue any litigation to final determimtim is the ooart of last resort. (b) In rase any such action or proceeding shall be begguunn� 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 cov- ered by this policy. or if m Insured is good faith Jesse s or contracts ro sett lease or mortgage the same, or if the successful bidder at a foreclosure sale under a mortgage covered by this poll refuses to purchase and in any such event the title e interest is rejected as unmarketable, notify the Company thereof in writin shall not be given to the Company of the receipt of process or pleadings shall not, in writing, promptly noti of any defect, lien or encumbrance which shall come to the knowledge or if the Insured shall not, in writing, the Company of my such rejectia claimed immarketability of title, the the Company in regard to the subjec action, proceeding or matter shall c nate; provided, however, that failur in no case prejudice the claim of an the Company shall be actually pre, failure and then only to the extent o: within ten days or if the Insured 'Y the Company fissured against of the Insured, .promptly notify • by reason of • all liability of t matter of such (c) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do say 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 wider 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 provide defense in such action or proceeding, and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Camppmy the Insured shall' give the Company all reesonable aid in any such action or proceeding, in effecting settlemt, securing evidence, obtaining witnesses, or prose encuting 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 9 ess action shall be commenced thereon within years after expiration of said thirty day period. Failure m furnish such statement of loss or damage or to commence such action within the time hereinbefore specified, shall be a conclusive bar against main an tence by the Insured of my action under tbis 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 claim insured against or to pay the full amount of this policy, or, in me loss is claimed under this policy by the owner of the indebtedness secured by a mortgage covered by this policy, the Company shell 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, attor- neys' fen and ezpenses which the Company is obli- gated hereunder ro pay, shall terminate all liability of the CompmY hereunder. In the event, after isotice of claim has been given ta the Company by the Insured, the Company offers m purchase said all debtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mort- ment a � price. gPurchase the Company upon pay - 7. PAYMENT OF LOSS (a) The liability of the Comnpany order this policy shall in no cum 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 my 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 attorneys' fees in litigation carried on by the Insured with the written authorization of the Company. maintainable miles this poB�tyg(1) H � Comor be after having received notice o an alleged defect, lion or encumbrance not excepted or excluded herein re- moves such defect, lion or encumbrance within a settling any claim or soft without written consent of the Company or (3) in the event the title is rejected as unmarketable bemuse of a defect, lion or enoma- branoe not excepted or excluded in this policy, until these has been a final determination by a court of competent )nrisdiction sustain irt� such rejection. (d) All payments under this policy, except pay- ments made for costs, attorneys' Sam and expenses; shall reduce the amount of the Insurance pro tanto and no payment shall be made without producing this policy for endorsement of eueb payment unless -:- the policy be lost or destroyed, in which case proof of such lose or destruction shall be furnished to the satisfaction of the y; Y�' provided, however, if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pra tanto the amount of the insurance afforded herguoder as to such Insured, except to the extent that such payments reduce the amount of the indebted, en secured by such mort- gage. Payment to full by an person n 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 es provided in paragraph 2 hereof. (e) When liability bas been definitely fixed in accordance with the conditions of this policy the loss or damage shall be payable within thirty days there- after. B. 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 Sched- ule B hereof or any mortgage hereafter exeonted by the Insured which is a charge or lien on the estate or interest described or refereed to in Schedule A, and the amount in 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 mort- gage shown in Schedule B unless such Insured ac- quires title to said estate or interest in satisfaction of raid indebtedness or my 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 my 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 par of my losses insured against here- under which shall exceed the amount, if any, lost to and remedies against any person or property neces- sary in order to perfect such tight of subrogation, and shall permit 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 mdebtedneaa secured by a mortgage covered by this polo sgeh Insumd may release or aubstimm the personal ffabtl- ity of 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 indebted- ness. provided such act does not result in any loss of priority of the lien of the mortgage. 10. POLICY ENTIRE CONTRACT Any action or actima or rights of action that the Insured may bay e or may bring against the Compmry 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 provi- sioN of tf provision or edition of this policy can be waived or changed except byy writing mdarsed 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 4mv statement in writing required to be fur- nished the Company shall be addressed to it at its home office at 4221 North Main Street, Santa Ana, California, or to the office which issued this policy. U e z W a H H w 0 U rn 1- G V W d }, a O J U v i � a z a � F z ro U � r O u a 6 0 4L = First AMP"' ajz Ville 117 •CiV.? Tr11st Company o' San Lux-.- Obispo ESCROW { CALIFOR[NIA [•� f�� TELEPHONE 543 -8900 BUYER These instructions cancel and superceded any previous instructions drawn in this escrow. Order Number SLO 77596omb Date September 17, 1968 ESCROW SUMMARY ?AID OUTSIDE ESCROW IS CASH THROUGH ESCROW 46 .00 ENCUMBRANCE OF RECORD ENCUMBRANCE OF RECORD PURCHASE MONEY ENCUMB. TOTAL CONSIDERATION S 46 .00 To FIRST AMERICAN TITLE INSURANCE & TRUST COMPANY I hereby agree to purchase the hereinafter described property for a total consideration of $ 465.00 and will on or before September 19, 1968 hand you said consideration which is payable as follows: $465.00 cash through escrow. In addition, buyer to pay costs as set out in page 2 herein. I Will deliver to you any additional funds and execute any instruments which are necessary to comply with the terms hereof, all of which you may use when you hold for me a deed executed by S. A. Petterso_ n who acquired title as Steven A. Petterson, a single.man, and when you can issue your standard coverage form policy of title insurance with liability of $ 500.00 on the following described property situated in the City of San Luis Obispo, County of San Luis Obispo , State of California, (legal description attached hereto as Exhibit "A" and made a part hereof) showing title vested in the City of San Luis Obispo, a municipal corporation, free of encumbrances except: 1. General and special taxes for fiscal year 19 68 - 19 69. 2. Assessments and /or Bonds not delinquent 3. Covenants, conditions, restrictions, rights of way, easements and reservations of record, if any. ed-of —Trust -e€ e- wtpa4d- 43�alenee -ef $• e ing interest at the rate of % per annum in favor of 5. Deed of Trust of recocd'securing a note with an approximate unpaid balance of $ bearing interest at the rate o , per annum in favor of _ I it- 6. Deed of Trust to record securing a note for $ with interest from at % per annum, payable (If an installment note, interest extra - included), dated ec�uted by in favor of payable at California, principal and interest due and paya�i 'n installments of S OR MORE, each on the day of every month, (AT ANY TIME, THE PRIVILEGE IS RESERVED TO PAY MORE THAN THE SUM DUE) beginm i; Escrow is instructed to obtain a partial reconveyance from itaino Construction Co., Inc., from the present trust deed of record, releasing the property concerned 'herein. Demand for said partial reconveyance to be the sum of $1+65.00.. .% ESCROW NNSTRUCTIONS - page 2 Order Number SLO 775960mb Closing costs 'estimated add to be paid by the buyeras fo.L_,,ws: Title Policy premium $40.00 Escrow Fee 50.00 Documentary Transfer tax 0.55 Recording Fees 5.60 Cost of obtaining and recording partial reconveyance 12.00 Prorate and /or adjust the following as of (no prorations through this escrow) 1. Taxes based on the amount of the last tax statement of the Tax Collector issued prior to the close of escrow. (If the amount of the new tax bill issued by the Tax Collector after close of escrow is more or less than the amount used for proration purposes, the difference, if any, will be adjusted by the parties herein outside of escrow.) (none) 2. Insurance (including FHA mortgage insurance, if any), '(none) 3. Interest on all encumbrances, except on any im rovement assessments or bonds. (none) 4. Rental per rent statement handed you. (none b. "Charge the buyer and credit the seller the amount of any funds held in an impound account, if any, in connection with an existing loan." (none) You are to hold for me shares of water stock of the Company. (none) I hereby agree to pay any charges including usual buyers escrow fee and any advances and expenses that are properly chargeable to me regardless of the consummation of this escrow. At the close of escrow you are to mail all documents, etc., to the persons entitled thereto. GENERAL PROVISIONS All disbursements shall be made by your check. All funds received in this escrow shall be deposited in one or more of your general escrow accounts with any bank doing business in the State of California and may be transferred to any other general escrow account or accounts. The expression "close of escrow" means the date on which instruments referr- ed to herein are filed for record. All adjustments are to be made on the basis of a 30 -day month. Recordation of any instruments delivered through this escrow, if necessary or proper in the issuance of a policy of title insurance called for, is hereby authorized. Execute on behalf of the parties hereto, form assignments of interest in any insurance policies (other than title insurance) called for herein and forward them upon close of escrow to the agent with the request, first, that insurer consent to such transfer or attach loss - payable clause or make such other additions or corrections as may have been specifically required herein, and second, that the agent thereafter forward such policies to the parties entitled to them. In all acts in this escrow relating to fire insurance, including adjustments, if any, you shall be fully protected in assuming that each such policy is in force and that the necessary premium therefor has been paid. You are to furnish a copy of these instructions, amendments thereto, closing statements and /or any other document de- posited in this escrow to the lender or lenders and /or the real estate broker or brokers involved in this transaction upon request of such lenders or brokers. Should you before or after close of escrow receive or become aware of any conflicting demands or claims with respect to this escrow or the rights of any of the parties hereto, or any money or property deposited herein or affected hereby, you shall have the right to discontinue any or all further acts on your part until such conflict is resolved to your satisfaction. and you shall have the further right to commence or defend any action or proceedings for the determination of such conflict The parties hereto jointly and severally agree to pay all costs, damages, judgments and expenses, including reasonable attorricys' fees, suffered or incurred by you in connection with, or arising out of this escrow, including, but without limit- ing the generality of the foregoing, a suit in intcrpleader brought by you. In the event you file a suit in interpleader, you shall ipso facto be fully released and discharged from all obiigations imposed upon you in this. escrow. If for any reason funds are retained or remain in escrow, you are to deduct therefrom a reasonable monthly charge as custodian thereof of not less than $10.00 per month. Time is declared to be the essence of these instructions. If you are unable to comply within the time specified herein and such additional time as is required to make an examination of the official records, you will return all documents, money or property to the party entitled thereto upon satisfactory written demand and authorization. Any amendment of and /or supplement to any instructions must be in writing. The seller agrees to sell and the buyer agrees to buy the property) herein described upon the terms hereof. Name CITY OF SAN LUIS OBISPO Address 990 Palm Street Phone San LuisObispo, California 931101 By: Name SELLER I approve of the foregoing instructions and agree to sell and will deliver to you papers, instruments and /or funds required from me within the time limit specified herein, which you are authorized to deliver when you can issue your policy of title insurance as set forth above. I agree to pay any personal property taxes properly chargeable- to me. You are instructed to use the money and record the instruments to comply with said instructions and to pay all . encumbrau;ces of record necessary without further approval including prepayment penalties to show title as herein pro- vided. I ariree to pay your usual sellers escrow fee, drawing of documents and such other charges which are advanced for my account regardless of the consummation of this escrow. I also agrree to pay the policy of title insurance premium and recording fees which are properly cnargcabie to lne and documentary transfer tax ln the amount of 0.55 which you are instructed to enter on the deed and affix your signatur thereto. I. this amount is incorrect, you are authorized and instructed to enter the correct amount on the deed and deduct the cost therefore from funds accruing to my account. in the event an incorrect amount is entered on the deed and said deed is recorded I hereby 'cold you harmless and agree to reimburse you for any loss you may sustain by said amount being incorrect. At close of escrow you are authorized to pay commission in the amount of $ (none) to: Nacre Address ; e 'terson Name Phone %+ EXHIBIT "A" That portion of Lots 22 and 23 in Block 3 of Brack Tract in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map recorded March 7, 1922 in Book 3 of Maps, at Page 1, records of said County„ described as follows: Beginning at•the intersection of the Southerly line of Brock Street and the Southwesterly line of Johnson Avenue as shown on said Tract map; thence S 36. 22' E along the Southwesterly line of Johnson Avenue 150.00 feet to the i True Point of Beginning; thence continuing S 36' 22' E a distance of '94.00 feet to a point; thence S 50' 48' W a distance of 6.01 feet to a point; thence N 36. 22' W a distance of 94.00 feet to a point; thence,N 50. 48' E a distance of 6.01 feet to the True Point of Beginning. i AGREEMENT THIS AGREEMENT, executed this fly of , 19 (p by and between S. A. PETTERSON, hereinafter call d Grantor, and the CITY OF SAN LUIS OBISPO, a municipal corporation, hereinafter called City, witnesseth: 1. Grantor shall convey to the City .013 acres, more or less, lying along Johnson Avenue more particularly described on Exhibit "A" hereto. 2. City agrees to construct curb, gutter and sidewalk across the entire frontage of the property conveyed to the City, when construction money is made available. 3. City agrees to pay Grantor $564.00 for the land, less $99.00 it would have cost to complete the sidewalk at the old line, leaving $465.00 to be paid by the City to the Grantor upon execution of this agreement. 4. City agrees to furnish all engineering and legal work, relocate utilities as necessary, remove the existing curb, gutter and sidewalk, revise the driveways in kind as necessary, construct a short wall behind the new sidewalk as required to retain the front yard, and pave out the street to the new gutter. ED I � i � / Clerk S. 'A. Petterson f'�TT�,PSD/r/ IL a EXHIBIT "A" That portion of Lots 22 and 23 in Block 3 of Breck Tract in the City of San Luis Obispo, County of San Luis Obispo, State of California, according to map recorded March 1, 1922. in Book 3 of Maps, at Page 1, records of said County, described as follows: Beginning at the intersection7of the Southerly line of Breck Street and the Southwesterly line of Johnson Avenue as shown on said Tract map; thence S 36° 22' E along the Southwesterly line of Johnson'Avenue 150.00 feet to the True Point of Beginning; thence continuing S 36° 22' E a distance of 94.00 feet to a point; thence S 50° 48' W a distance of. 6.01 feet to a point; thence N 36° 22' W a distance of 94.00 feet to a point; thence N 500 48' E a distance of 6.01 feet to the True Point of Beginning. Containing .013 acres, more or less.