HomeMy WebLinkAboutD-882 Street Widening-Foothill College Square Recorded 04/17/19720
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STATE OF CALIFORNIA j
COUNTY OF Sacramento 1} SS.
On Lecember_27, 1071
before me, the undersigned, a Notar, Public in and for said County
and State, personally appeared Frances Bode
known to me
to be One of the partners of the partnership
that executed the within instrument, and acknowledged to me that
such partnership executed the same. y_
Signature
L�
Alyce . Lund
Name (Typed or Printed) `
Notary Public in and for said County and State
FOR NOTARY SEAL OR STAMP
i \ALYCE V. LUND
NOTARY PUBLIC
I
SACRASdENTO COU14TY CALIFOi973 i U ,
My Commission ExPlr
August 10,\ \e
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f e t 1665 Pax 5
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RECORDING REQUESTED B1=`
'Security Title Insurance' " .
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90C. NO. 10
OFFICIAL RECORDS
SAN LUIS OBISPO CO., CALIF.
WIWAM E. ZIMARIK,
COUNTY RECORDER
APR 241972
COMPAREQ
063430C-24r' 000000.00 RECR
06343a24r MERV .
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Documentary transfer tax $ ................ . none required
............_:.- .- -.....
14 Computed on full value of property conveyed, or
❑ Computed on full value less liens & encumbrances
remaining t ereon t time of sale.
.Security.Title__Zns. Co.
Signature of declarant or agent determining tax - firm name
wis o
� Unincorporated area City of -...`� �. : ..... .. ........8/.S'P0
Grant Deed
L-I THIS FORM FURNISHED BY SECURITY TITLE INSURANCE COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
MAINO PROPERTIES, a co- partnership
hereby GRANT(S) to
CITY OF SAN LUIS OBISP09 a municipal corporation
the following described real property in the
county of San Luis Obispo state of California:
Description attached as per Exhibit "A ", consisting of one page.
Dated December 6 19T1
STATE OF CALIFORNIA
COUNTY OF
San Luis Obispo SS.
January 5,O January 5, 1972 1 efore me, the under-
signed, a Notary Pu1Tlicc in and for said County and State, personally
ap eared ahe0 C. Maino
19;%% to me to be one of the partners
of the partnership that executed the within
instrtmient & acknowledged to me that such
-partnership executed the same c
Soature of Notary
Lloyd H. Snyder
Name (Typed or Printed) of Notary
Maino Proverties. a co-
By e ,
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I { a pa ner
Byl• V /� 'l'°ar''''
a partner
FOR NOTARY SEAL OR STAMP
LLOYD H. S' FEZ ..
htOTA'Y P'S�':L
SAM LUIS
My commission expires .June 11, 1973
•
Title Order No Escrow No. 89509 -de
L -1 (G.S.) (Rev. 5 -67) 8 Pt. MAIL TAX STATEMENTS AS DIRECTED ABOVE Lva Pi
6.s
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AND WHEN RECORDED MAIL TO
NAME
City of San Luis Obispo .
Attn: Mr. Shaw
ADDRESS
City Hall
CITY &
STATE
San Luis Obispo, Ca. 93401
J
F
MAIL TAX STATEMENTS TO
NAME
see above
ADDRESS
CITY &
STATE
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90C. NO. 10
OFFICIAL RECORDS
SAN LUIS OBISPO CO., CALIF.
WIWAM E. ZIMARIK,
COUNTY RECORDER
APR 241972
COMPAREQ
063430C-24r' 000000.00 RECR
06343a24r MERV .
SPACE ABOVE THIS LINE FOR RECORDER'S USE
Documentary transfer tax $ ................ . none required
............_:.- .- -.....
14 Computed on full value of property conveyed, or
❑ Computed on full value less liens & encumbrances
remaining t ereon t time of sale.
.Security.Title__Zns. Co.
Signature of declarant or agent determining tax - firm name
wis o
� Unincorporated area City of -...`� �. : ..... .. ........8/.S'P0
Grant Deed
L-I THIS FORM FURNISHED BY SECURITY TITLE INSURANCE COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
MAINO PROPERTIES, a co- partnership
hereby GRANT(S) to
CITY OF SAN LUIS OBISP09 a municipal corporation
the following described real property in the
county of San Luis Obispo state of California:
Description attached as per Exhibit "A ", consisting of one page.
Dated December 6 19T1
STATE OF CALIFORNIA
COUNTY OF
San Luis Obispo SS.
January 5,O January 5, 1972 1 efore me, the under-
signed, a Notary Pu1Tlicc in and for said County and State, personally
ap eared ahe0 C. Maino
19;%% to me to be one of the partners
of the partnership that executed the within
instrtmient & acknowledged to me that such
-partnership executed the same c
Soature of Notary
Lloyd H. Snyder
Name (Typed or Printed) of Notary
Maino Proverties. a co-
By e ,
i.
I { a pa ner
Byl• V /� 'l'°ar''''
a partner
FOR NOTARY SEAL OR STAMP
LLOYD H. S' FEZ ..
htOTA'Y P'S�':L
SAM LUIS
My commission expires .June 11, 1973
•
Title Order No Escrow No. 89509 -de
L -1 (G.S.) (Rev. 5 -67) 8 Pt. MAIL TAX STATEMENTS AS DIRECTED ABOVE Lva Pi
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That portion of the Southeast Qwrter of the Southeast quarter of Secti�m 22, in
TAP 30 South, Flange 12 BBast, Mount Diablo Base and Meridian, in the�Onaty of
San Luis Obispo, State of California, according to the Official plat or plats of
the survey of said lands returned to the General Land Office by the Surveyor General
described as follows:
ao.' "I ° at the Southeast comer of the land described in !je deed to HISIM Properties,
a C°P P, recorded October' 10, 1962 in volume 1205 at iPaw 457 of 0ffieial
Records; theme South 89° 42' 45° hest along the North line df Foothill Blvd., as said
North line existed February 2, 1918, 58.00 feet to the Southeast corner of the
property conveyed to Robert A. Danneberg and Lucinda S. Danmeberg, by deed recorded
In Book 399 at Page 484 of Official Records; theme North 000 39' 45" But along the
58-00 feet line of said to the best line erg property, 20.92 feet; thence North 89° 30' Bast,
Party described in said Maiuo property deed,
than South 000 39' 45" West along said West line 21.13 feet to the point of
beginning.
CT.
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CEPTIFICATE OF ACCEPTANCE
* * ** * * * * * * * * * **
THIS IS TO CERTIFY that the interest in real property conveyed
by the deed dated December 6,1971
19 from Main Properties, a co- partnership
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; April 17, 1972
END Of DOCUMENT
CITY OF SAN LUIS OBISPO
OJOL 1665 PAGE 7
�M
SECURITY TITLE.' -
-�- INSURANCE COMPANY
sccuwm
^*� P.O. Bats 1145 San Luis Obispo OFFICE
• City of San Luis Obispo
990 Palm Street
San Luis Obispo, Ca. 931+01
•
The above matter has now been completed and we enclose the following:
$$ Escrow Statement
❑ Check in the amount of 8
❑ Copy of Letter of Transmittal on Fire Insurance
ME Policy of Title Insurance
❑ Trust Deed Note
Date April 25., 1972
Re: Escrow No. $9509 -de
Any recorded papers to which you are entitled will be mailed to you from the County Recorder's Office.
t\
IF YOU ARE PURCHASING THE PROPERTY INVOLVED IN THIS TRANSACTION, AND THE PROPERTY
WAS PURCHASED SUBJECT TO ANY TAXES, THEY SHOULD BE PAID PRIOR TO DELINQUENCY TO
AVOID ANY PENALTIES WHICH MIGHT ACCRUE.
We appreciate having been favored with this business. We trust that we may again have the pleasure of serving you, and will be
pleased to have you indicate this office as your preference in future transactions of this nature.
Very truly yours,
SECURITY TITLE
INSURANCE COMPANY .
By
Doris M. Eeckhout,
Certified Senior Escrow Officer
blr.
E -77 (G.S.) 4 -66
i
SECURITY TITLE INSURANCE COMPANY
sECUwITr
TITLE
I
STATEMENT OF ESCROW NO. 89509-de OFFICE San -Luis Obispo
TO CITY OF SAN LUIS OBISPO DATE April 24, 1972
PROPERTY:
CHARGES_
CREDITS
CONSIDERATION OR SALES PRICE
$ 6.,399. 75
$
Paid outside of Escrow
Deposits
v509 -00
By First Trust Deed
By Second Trust Deed
PRO - RATIONS- MADE AS OF
Credit Litigation Guarantee
0.00
COMMISSION PAID TO
POLICY" OF TITLE INSURANCE
p
86.
Transfer Tax Stamps
Recording Deed
Recording Trust Deed
Recording
Reconveyance Fee
Escrow FEE
68.00
Drawing Deed
.50
Drawing Trust Deed
Balance due you for which our check is enclosed U 11
TOTALS S' 6;559.00 6,559.00
E -312 (GS)
eecuwtry
Ttra.e
CLTA -1963 STANDARD COVERAGE
AMENDED 1969
POLICY OF TITLE INSURANCE
issued by
SECURITY TITLE INSURANCE COMPANY
Security. Title Insurance 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 consol-
idation, 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 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, 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 % or excluded from coverage 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 caused its corporate name and seal to be
hereunto affixed by its duly authorized officers on;the date shown in Schedule A.
Secretary
P -218 (G.S.) OSW . oawaa. Cmro d M• . a ym.a T�o ,
0RdTF�j:.
O.&ARCH, 5,
-01 •• Y
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An Au " rized Signature
President
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SNOI,LV'IfidI,LS QNv SNOIJAGNOD
P -218 -A (G.S.) Rev. -
California lxmd Title Association -
Standard Coverage Policy Form =, i.
Copynght'1983 - i
i
SCHEDULE A
Effective Amount of liability: $ 6v399 75
Dace: April 24, 1972 at 1:25 P.M.
r
Policy No: 89509 -SLO
Premium $ 86.75 (A -2 —a )
INSURED
CITY OF SAN LUIS OBISPO
1. The 'estate or interest 'in the land described or referred to in this schedule covered by- this, policy- is:
A fee.
2. Title to the estate or interest covered by this policy at the date hereof is' vested in:
CITY OF SAN LUIS OBISPO,
a municipal corporation.
3. 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 ATTACHED CONSISTING OF ONE PAGE.
c.
That portion of the Southeast Quarter of the Southeast Quarter of Section 22, in
Tovnship 30 South, Range 12 East, Mount Diablo Base and Meridian, in the County of
San Luis Obispo, State of California, according to the Official plat or plats of
the survey of said lands returned to the General Land Office by the Surveyor General
described as follows:
Beginning at the Southeast corner of the land described in the deed to Maino Properties,
a copartnership, recorded October 10, 1962 in Volume 1205 at Page 457 of official
Records; thence South 89° 42' 45" West along the North line of Foothill Blvd., as said
North line existed February 2, 1918, 58.00 feet to the Southeast corner of the
property conveyed to Robert A. Dan berg and Lucinda K. Danneberg, by deed recorded
in Book 399 at Page 484 of Official Records; thence North 00° 39' 45" East along the
Basterly line of said Danneberg property, 20.92 feet; thence North 89° 30' East,
58.00 feet to the West line of the property described in said Maino Property deed,
thence South 000 39' 45" West along said West line 21.13 feet to the point of
begisming.
P -218 -B (G.S.)
California Laird Title Association
Standard Coverage Polity Form '
Copyright 1963 - -
SCHEDULE B
This policy does not insure against loss or damage by reason of the following:.
PART I
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 iiublic 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.
It, 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 11
1. General and special taxes for the fiscal year 1972 -73, now a
lien, but not yet due and payable.
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CONDITIONS AND STIPULATIONS (Continued' and Concluded From Reverse Side of Policy Face)
requested by the Company the Insured
shall give the Company all reasonable
aid in any such action or proceeding, in
effecting settlement, securing evidence,
obtaining witnesses, or prosecuting or de-
fending 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
paragraph- 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 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 In-
sured under this policy unless action shall
be commenced thereon within five years
after expiration of said thirty day period.
Failure to furnish such statement of loss
or damage, or to commence such action
within the time hereinbefore specified,
shall be a conclusive bar against main-
tenance by the Insured of any action
under this policy.
6. Option to Pay, Settle or Compro.
mise 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 case loss is claimed under
this policy by the owner of the indebted.
ness 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 ex-
penses 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 indebt-
edness, the owner of such indebtedness
shall transfer and assign said indebtedness
and the mortgage securing the same to the
Company upon payment of the purchase
price.
7. Payment of lugs
(a) The Liability of the Company
under this policy shall in no case exceed,
in all, the actual loss of the Insured and
costs and attorneys fees which the Com-
pany 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 attorneys'
fees in litigation carried on by the Insured
P -218 (G.S.)
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 encum-
brance not excepted or excluded here-
in removes such defect, lien or encum.
brance 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 rejected 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 sus-
taining such rejection.
(d) All payments under this policy,
except payments made for costs; attorneys
fees and expenses, shall reduce the amount
of the insurance pro tanto and no payment
shall be made without producing this
policy for endorsement of such payment
unless the policy be lost or destroyed, in
which case proof of such loss or destruc.
tion shall be furnished to the satisfaction
of the Company; 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 pro tanto the amount of the
insurance afforded hereunder as to such
Insured, except to the extent that such
payments reduce the amount of the in.
debtedness secured by such mortgage.
Payment in full by any person or voluntary
satisfaction or release by the Insured of
a mortgage covered by this policy shall
terminate all liability of the Company to
the insured owner of the indebtedness
secured by such mortgage, except as pro;
vided in paragraph 2 hereof.
(e) When liability has been definitely
fixed in accordance with the conditions
of this.policy the loss or damage shall be
payable within thirty days thereafter.
E. 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 priority of
any mortgage shown or referred to in
Schedule B hereof or any mortgage here.
after executed 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 num-
bered 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 indebt.
edness or any part thereof.
9. Subrogation upon Payment or
Settlement
Whenever the Company shall have
settled a claim under this policy, all right
of subrogation shall vest in the Company
unaffected by any act of the Insured, and
it shall be subrogated to and be entitled
to all rights and remedies which the
Insured would have had against any person
or property in respect to such claim had
this policy not been issued. If the pay-
ment does not cover' the loss of the In.
sured, the'Company shall be subrogated to
such rights and remedies in the proportion
which said payment bears to the amount
of said loss. If loss should result from
any act of the Insured, such act shall
not void this policy, but the Company, in
that event, shall be required to pay only
that part of any losses insured against
hereunder which shall exceed the amount,
if any, lost to the Company by reason of
the impairment of the right of subrogation.
The Insured, if requested by the Company,
shall transfer, to the Company all rights
and remedies against. any person.or prop-
erty necessary in order to perfect such
right 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 in-
debtedness 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 other-
wise 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 actions or rights of action
that the Insured may have or may bring
against the Company .arising out of the
status of the lien of the mortgage covered
by this policy or the title of the estate or
interest insured herein must be based on
the provisions of this policy.
No provision or condition of this policy
can be waived or changed except by
writing endorsed hereon or attached Here.
to signed by the President, a Vice Pres-
ident, the Secretary, an Assistant Secre.
tary or other validating officer of the Com-
pany.
11. Notices, Where Sent
All notices required to be given the
Company and any statement in writing
required to be furnished the Company
shall be addressed to it at the office which
issued this policy or to 'its Home Office.
13640 Roscoe Boulevard, Panorama City.
California 91409.
12. THE PREMIUM SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE.
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CLTA -1963 STANDARD COVERAGE
AMENDED 1969
POLICY OF TITLE INSURANCE
issued by
SECURITY TITLE INSURANCE COMPANY
Security, Title Insurance 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 consol•
idation, 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 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, but only insofar as such defect affects the
lien or charge of said mortgage upon the estate or interest ieferred 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 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 caused its corporate name and seal to be
hereunto affixed by its duly authorized officers on the date shown in Schedule A.
`NSU�H11111
t^ lIt,
rfO 3
Secretary v' MgRC H. 5,196 41,
1f14t�C�l1FQ8h�= President .
An Authorized Signature
P -218 (G.S.) ®sr.co �row.ec. C«no.�y a rww. a..umw nme.t «w..
CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used in this
policy mean:
(a) "land ": the land described, spe-
cifically or by reference, in Schedule A
and. improvements affixed thereto which by
law constitute real property;
(b) "public records ": those records
which impart constructive notice of mat-
ters relating to said land;
(c) "knowledge': actual knowledge,
not constructive 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 instru-
ments; and
(f) "insured ": the party or parties
named as Insured, and if the owner of
the indebtedness secured by a mortgage
shown in Schedule. B is named as 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 referred to in this policy by fore.
closure, trustee's sale, of other legal man-
ner in satisfaction of said indebtedness,
and (3) any federal agency or instrumen-
tality which is an insurer or guarantor.
under an insurance contract or guaranty
insuring or guaranteeing said indebtedness,
or any part thereof, whether named as
an-Insured herein or not, subject other-
wise to the provisions hereof. .
2. Benefits after Acquisition of Title
If an insured owner of the indebtedness
secured by a mortgage described in'Sched-
ule B acquires said estate or interest, or
any part thereof, by-foreclosure, trustees
sale or other legal manner in satisfaction
of said indebtedness, or any part thereof,
or if a federal agency or instrumentality
acquires said estate or interest, or any
part thereof, as a consequence of.,an in-
surance 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 con-
ditions and stipulations hereof.
3. Exclusions from the Coverage of
this, Polity
This policy does not insure against loss
or damage by reason of the following:
(a) Any law, ordinance or govern-
mental regulation (including but not lim-
ited to building and zoning ordinances)
restricting or regulating or., prohibiting the
occupancy, use or enjoyment of the land,
or regulating the character, dimensions, or
location of any improvement now or here-
after 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 eminent domain unless notice
of the exercise of such rights appears in
the public records at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described in
Schedule A, or title to streets, roads,
avenues, lanes, ways or waterways on
which such land abuts, or the right to
maintain therein vaults, tunnels, ramps or
any other structure or improvement; or
any rights or easements therein unless this
policy.- specifically provides that such
property, rights or easements are insured,
except that if the land abuts upon one or
more physically open streets or highways
this policy insures the ordinary rights of
abutting owners for access to one of such
streets or highways, unless otherwise ex-
cepted or excluded herein.
(d) Defects, liens, encumbrances, ad-
verse claims against the title as insured or
other matters (1) created, suffered, as-
sumed or agreed to by the Insured claim-
ing loss or damage; or (2) known to the
Insured Claimant either at the date of this
policy or at the date such Insured Claim-
ant acquired an estate or interest insured
by this policy and not shown by the public
records, unless disclosure thereof in writ.
ing 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 subsequent to the date hereof.
(e) Loss or damage which would not
have been sustained if the Insured were
a purchaser or encumbrancer for value
without knowledge.
(f) Any "consumer credit protection',
"truth in lending" or similar law.
4. Defense and Prosecution of Ac-
tions - Notice of Claim to he 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 com-
cenced against the Insured, or defenses,
restraining orders, or injunctions inter-
posed against a foreclosure or sale of the
mortgage and indebtedness covered by this
policy or a sale of the estate or interest
in said land; or (2) for such action as
may be appropriate to establish the title
of the estate or interest or the lien of the
mortgage as insured, which litigation or
action in any of such events is founded
upon an alleged defect, lien or encum-
brance insured against by this policy, and
may pursue any litigation to final determ-
ination in the court of last resort.
(b) In case any such action or pro-
ceeding shall he begun, or defense inter-
posed, or in case knowledge shall come to
the Ihsured of any claims of title or in-
terest 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 mort-
gage covered by this policy, or, if an
Insured in good faith leases or contracts
to sell, lease or mortgage the same, or if
the successful bidder at a foreclosure
sale under a mortgage covered by this
policy refuses to purchase and in any
such event the title to said estate or in-
terest is rejected as unmarketable, 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 In-
sured, 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 terminate; pro-
vided, 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 proceeding 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 mort-
gage as insured; and the Company may
take any appropriate action under the
terms of this policy whether or not it
shall be liable thereunder and shall not
thereby concede liability or waive any
provision of this policy.
(d) In all cases where this policy
permits or requires the Company to pros-
ecute 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 pro-
ceeding, and all appeals therein,. and per-
mit it to rue, at its option, the name of.
the Insured for such purpose. Whenever
(Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
P-218-A (G.S.) Rev.
Califomia Umd Title Association
Standard Coverage Policy Form
Copyright 1963
SCHEDULE A
Effective Amount of liability: $ 6A397=7*75
Date: JkprU 24& 1972 at 15 25 P.M.
INSURED
0" OF an LM ONSF0
Policy No: 89509—SW
Premium$ 86*75 (A-2--,a)
1. The estate or interest in the land described or referred to in this schedule covered by this policy is:
A fee.
2. Title to the estate or interest covered by this poliqra[the date hereof is vested in:
CM cw S" wn OBZMJO
a mUnU11MIL corporation.,
3. The land referred to in tbivj')olicy is situated in the State of California, County of SM lijilis Obispo
and is described as followa!
Sw —05— -3 W-- W-- I W-- ATTMM COMMMM OF ONE PAW
0
That portion of the Southeast Quarter of the Southeast Quarter of Section 22, in
Tosnship 30 South, Range 12 East, Mount Diablo Base and Meridian, in the Couixty of
San Luis Obispo, State of California, according to the Official plat or plats of
the survey of said lands returned to the General Land Office by the Surveyor General
described as follows:
Beginning at the Southeast corner of the land described in the deed to Maino Properties,
a copartnership, recorded October 10, 1962 in Volume 1205 at Page 457 of Official
Records; thence South 89° 42' 45" West along the North line of Foothill Blvd., as said
North line existed February 2, 1918s 58.00 feet to the Southeast corner of the
property conveyed to Robert A. Dsnneberg and Lucinda K. Danneberg, by deed recorded
In Hook 399 at Page 484 of Official Records; thence North 000 39' 45" East along the
Easterly line of said Danneberg property, 20.92 feet; thence North 89° 30' East,
58.00 feet to the West line of the property described in said Maino Property deed,
thence South 000 39' 45" West along said West line 21.13 feet to the point of
beginning.
P -218 -B (G.S.)
California Land Title Association
Standard Coverage Policy Form
Copyright 1983 c
SCHEDULE R
L
This policy does not insure against loss or damage by reason of the following:
PART I
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 11
1. General and Special taxes for the fiscal ywarr 1972 -730 now a
lien, but not let due and payable!
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CONDITIONS AND STIPULATIONS (Continued' and Concluded From Reverse Side of Policy Face)
requested by the Company the Insured
shall give the Company all reasonable
aid in any such action or proceeding, in
effecting settlement, securing evidence,
obtaining witnesses, or - prosecuting or de-
fending such action or proceeding, and
the Company shall reimburse the Insured
for any expense so incurred.
5. Notice of Loss - Limitation of
Action
In addition to the notices required under
paragraph 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 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 In-
sured under this policy unless action shall
be commenced thereon within five years
after expiration of said thirty day period.
Failure to furnish such statement of loss
or damage, or to commence such action
within the time hereinbefore specified,
shall be a conclusive bar against main-
tenance by the Insured of any action
under this policy.
6 Option to Pay, Settle or Compro.
mise 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 case loss is claimed under
this policy by the owner of the indebted-
ness 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 _ex-
penses 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 indebt-
edness, the owner of such indebtedness
shall transfer and assign said indebtedness
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 policy shall in.no case exceed,
in all, the actual loss of the Insured and
costs and attorneys' fees which the Com-
pany 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 attorneys'
fees in litigation carried on by the Insured
P -218 (G.S.)
I
with the written authorization of the
Company.
(c) No claim for damages shall arise
or be maintainable under this policy (I)
if the Company, after having received
notice of an alleged defect, lien or encum-
brance not excepted or excluded here-
in removes such defect, lien or encum-
brance 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 rejected 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 sus.
taining such rejection.
(d) All payments under this policy,
except payments made.for costs, attorneys'
fees and expenses, shall reduce the amount
of the insurance pro tanto and no payment
shall be made without producing this
policy for endorsement of such payment
unless the policy be lost or destroyed, in
which case proof of such loss or destruc-
tion shall be furnished to the satisfaction
of the Company; 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 pro tanto the amount of the
insurance afforded hereunder as to such
Insured, except to the extent that such
payments reduce the amount of the in-
debtedness secured by such mortgage.
Payment in full by any person or voluntary
satisfaction or release by the Insured of
a mortgage covered by this policy shall
terminate all liability of the Company to
the insured owner of the indebtedness
secured by such mortgage, except as pro-
vided in paragraph 2 hereof.
(e) When liability has been definitely
fixed in accordance with the conditions
of this policy the loss or damage shall be
payable within thirty days thereafter.
E. 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 priority of
any mortgage shown or referred to in
Schedule B hereof or any mortgage here-
after executed 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 num-
bered 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 indebt.
edness or any part thereof.
9. Subrogation upon Payment or
Settlement
Whenever the Company shall have
settled a claim under this policy, all right
of subrogation shall vest in the Company
unaffected by any act of the Insured, and
it shall be subrogated to and be entitled
to all rights and remedies which the
Insured would have had against any person
or property in respect to such claim had
this policy not been issued. If the pay-
ment does not cover' the loss of the In-
sured, the'Company shall be subrogated to
such rights and remedies in the proportion
which said payment bears to the amount
of said loss. If loss should result from
any act of the Insured, such act shall
not void this policy, but the Company, in
that event, shall be required to pay only
that part of any losses insured against
hereunder which shall exceed the amount,
if any, lost to the Company by reason of
the impairment of the right of sabroga_tion.
The Insured, if requested by the Company,
shall transfer to the Company all rights
and remedies against. any person or prop-
erty necessary in order to perfect such
right 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 in-
debtedness 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 other-
wise 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 actions or rights of action
that the Insured may have or may bring
against the Company arising out of the
status of the lien of the mortgage covered
by this policy or the title of the estate or
interest insured herein must be based on
the provisions of this policy.
No provision or condition of this policy
can be waived or changed except by
writing endorsed hereon or attached here-
to signed by the President,- a Vice Pres-
ident, the Secretary, an Assistant Secre-
tary or other validating officer of the Com-
pany.
11. Notices, Where Sent
All notices required to be given the
Company and any statement in writing
required to be furnished the Company
shall be addressed to it at the office which
issued this policy or to its Home Office.
13640 Roscoe Boulevard, Panorama City.
California 91409.
12. THE PREMIUM SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE.
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