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
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, (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
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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.
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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.
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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.