HomeMy WebLinkAboutD-956 Laguma Lake Drainage Channel (Condemnation) Recorded 06/26/1975�3
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OFFICIAL 'RECORDS 16
$AN LUIS -OBISPO CO., CAL.
COMPARED JUN 2 6 1975
RECORDING REQUESTED BY and VVIL'LIAM E. ZIMARIK
WHEN RECORDED RETURN TO: COUNTY. RECORDER
TIME 06 PM
WILSON.,'JONES9.MORTON & LYNCH
p. 0. Box 152
San Mateo, Cali.fornia
0301.4126" A00000.00
o307421520, AOOOOO.00CA
UP-� rD�:
JUN . ,4 1975
MlSi E.i i �''0' C0UNI -Y CLL?IK
By J"21, iNE LATCH
DEPUTY CLERK
SUPERIOR COURT OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF'SAN LUIS OBISPO
9!CITY OF SAN LUIS OBISPO.$ etc., :.
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10 i Plaintiff,
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11 1 vs'.
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12iERNEST.DALIDIO, MELVIN DALIDIO,:
THELMA PEROZZI, et al.,
13
Defendants.
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15
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17.
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191
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21. 1
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No. 41959
FINAL-JUDGMENT IN CONDEMNATION1
It appearing, and the Court finds, that the.total award in
the sum of $19,396.24 as contained in the Interlocutory Judgment
of Condemnation entered in the within proceeding on.June 11,.1974
for the taking of the estates and interests more particularly
described therein and in Exhibit "A ", attached hereto and.by this
reference made a part hereof, has been paid to defendants ERNEST
DALIDIO, MELVIN.DALIDIO and THELMA PEROZZI, and the Court being
fully informed and good cause appearing therefor:
NOW, THEREFORE, IT.IS ORDERED,. ADJUDGED and DECREED that
.a permanent easement and right of way over, under, along, through
and across the real property described in said Exhibit "A ".for
the construction and widening of Prefumo Drainage Channel, together
with a maintenance road parallel thereto, and together with the
existing improvements, if any, which are located thereon, and
including the privilege and right of .temporary use of adjacent
working areas as required during said construction, will vest in
!plaintiff free and discharged of all claims and liens of every
(kind, except as hereinbelow noted, forthwith upon recordation of
91 6-G
YOL 1840 PAGE 217
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s •
the. within,final judgment.
1T IS FURTHER ORDERED, ADJUDGED and DECREED that for a
period of five (5) years hereafter, and at.no cost to said defend-
ants, plaintiff shall remove trees; and portions thereof, which
have,fallen, or are in imminent danger offalling,.from the property
herein condemned onto defendants ERNEST DALIDIO,,MELVIN DALIDIO
and THELMA PEROZZI's' remaining property.' Plaintiff shall also
during said five (5) year period remove trees, and portions.there-
of, from property outside of the condemned parcel described herein,
but as a result of tree damage or.weakening.caused, in the opinioni,
of said defendants, by plaintiff's flood .improvement project:
Defendants shall permit reasonable access by plaintiff for such
purposes
IT IS FURTHER ORDERED, ADJUDGED and DECREED that plaintiff
shall construct and maintain a four - strand barbed wire fence on
the property line connecting the property condemned and the remain-
ing parcel. Said fence shall be constructed within 180 days from
June 11, 1974. That plaintiff shall maintain aforesaid fence and
shall hold defendants aforesaid harmless from any loss; liability
or expense resulting from the taking or use of the property con-
demned herein. // J
Done in open Court this day of June, 1975.
Judge of said Superior Court
2
VOL 1840 PACE 218.
G
J
/ 1
PROPERTY DESCRIPTION
A portion of Lots M and N
re- subdivision of Lots 50
Canada de Los Osos and La
161 of Book "A" of Maps L
Recorder of the County of
described as follows:
of the R. R. Harris
and 61 of the Ranchos
Laguna as filed on Page
n the Office of the
San Luis Obispo, California,
Beginning at the most Northerly point of Tract 169,
as recorded on Page 45 of Book. 6 of maps as filed
in the Office of the Recorder of the County of San
Luis Obispo, California, said point being on the
Southerly line of Madonna Road; thence along said
Southerly line of 11adonna Road which bears idorth
62 °30' East'a distance of 54.90 feet; thence South
5 °48'47" East a distance of 246.80 feet; thence
South 19 °57'37" East a distance of 244.39"feet;
thence South 0 °26'53" West a distance of 182.46 feet;
thence South 20 °33'06" West a distance of 235.26
feet; thence South 3 °50'57 ""est - a distance of
252.36 feet; thence South 14 °21'20" West a distance
of 373.89 feet; thence South 1 °00'32" East a
distance of 322.13 feet; thence North 55 °30' .Vest
a distance of 63.90 feet; thence along the Easterly
line of Tract 169 to the true point of beginning
through the f o l lowir_g courses:
North
North
North
North
North
North
North
North
North
North
North
point
7 °25' i6" East a
1 °00' 32" :.est a
9 °39'39" Fast a
14 °21'20" East
3 °50'57" East a
11 °14'33" East
16 °42'13" East
0'20"'53" East a
i9 057'37" Test
5 °48'4 -" ?Nest a
14 °39'55" 1,Jest
of beginning.
Contains 1.8 acres.
distance cif 116.00' feet; thence
distance of 154.16 feet; thence
distance of 123.27 feet; thence
• distance of 267.10 feet; thence
distance of 228.68 feet; thence
• distance of 101.44 feet; thence
• distance of 207.16 feet; thence
distance of 100.02 feet; thence
• distance of 215.04 feet; thence
distance of 201.68 feet; thence
a distance of 71.55 feet to the
EXHIBIT "A"
VOL 1840 PACE 219'
�V
G7
CLTA -1973 STANDARD COVERAGE
POLICY OF TITLE INSURANCE
issued by
SAFECO TITLE INSURANCE COMPANY
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, SAFECO
TITLE INSURANCE COMPANY, a California ' corporation, herein called the Company, insures the
insured, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the
amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company
may become obligated to pay hereunder, sustained or incurred by said insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as
stated therein;
2. Any defect in or lien or encumbrance on such title;
3. Unmarketability of such title; or
4. Any lack of the ordinary right of an abutting_ owner for access to at , least one
physically open street or highway if the land, in fact, abuts upon one or more such
streets or highways;
and in addition, as to an insured lender only:
5. Invalidity of the lien of the insured mortgage upon said estate or interest except
to the extent that such invalidity, or claim thereof, arises out of the 'transaction
evidenced by the insured mortgage and is based upon
a. usury, or /
b. any consumer credit protection or truth in lending law; j
6. Priority of any lien or encumbrance over the lien of the insured mortgage, said
mortgage being shown in Schedule B in the order of its priority; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment
is shown in-Schedule B.
-_- _DNS U RAC` �4
/
,C %�
�o:���pAPORgjf �:o���
i
Secretary % %le- e��RCH, 5.1961'
�VAuized Signature.
P -218 (G.S.) Rev. 8 -73
IAIWC�&4
President
® Sdeco Insurance Company of America, Replalered Trademark owns.
CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used in this
policy mean:
(a) "insured ": the insured named in
Schedule A, and, subject to any rights or
defenses the Company may have had
against the named insured, those who
succeed to the interest of such insured by
operation of law as distinguished from
purchase including, but not limited to,
heirs, distributees, devisees, survivors; per -
sonal representatives, next of kin, or cor-
porate or fiduciary successors. The term
"insured" also includes (i) the owner of
the indebtedness secured by the insured
mortgage and each successor in ownership
of such indebtedness (reserving, however,
all rights and defenses as to any such
successor who acquires the indebtedness
by operation of law as described in the
first sentence of this subparagraph (a)
that the Company would have had against
the successor's transferor), and further
includes (ii) any governmental agency or
instrumentality 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, and
(iii) the parties designated in paragraph
2(a) of these Conditions and Stipulations.
(b) "insured claimant ": an insured
claiming loss or damage hereunder.
(c) "insured lender ": the owner of an
insured mortgage.
(d) "insured mortgage ": a mortgage
shown in Schedule B, the owner of which
is named as an' insured in Schedule A.
(e) "knowledge ": actual knowledge,
not constructive knowledge or notice
which may be imputed to an insured by
reason of any public records.
(f) "land ": the land described, spe-
cifically or by reference in Schedule A,
and improvements affixed thereto which
by law constitute real property; provided,
however, the term "land" does not include
any area excluded by Paragraph No. 6
of Part I „f Schedule li of this Policy.
(g) "mortgage ": mortgage, deed of
trust, trust deed, or other security instru-
ment.
(h) "public records ": those records
which by law impart constructive notice
of matters relating to the land.
2.(a) Continuation of Insurance
after Acquisition of Title by Insured
Lender
If this policy insures the owner of the
indebtedness secured by the insured mort-
gage, this policy shall continue in force
as of Date of Policy in favor of such in-
sured who acquires all or any part of the
estate or interest in the land described
in Schedule A by foreclosure, trustee's
sale, conveyance in lieu of foreclosure, or
other legal manner which discharges the
lien of the insured mortgage, and if such
insured is a corporation, its transferee of
the estate or interest so acquired, provided
the transferee is the parent or wholly
owned subsidiary of such insured; and in
favor of any governmental agency or in-
strumentality which acquires all or any
part of the estate or interest pursuant to
a contract of insurance or guaranty in-
suring or guaranteeing the indebtedness
secured by the insured mortgage. After
any such acquisition the amount of insur-
ance hereunder, exclusive of costs, attor-
neys' fees and expenses which the Company
may be obligated to pay, shall not ex-
ceed the least of:
.(i) the amount of insurance stated in
Schedule A;
(ii) the amount of the unpaid prin-
cipal—of--the—indebtedness plus interest
thereon, as determined under paragraph
6(a) (iii) hereof, expenses of foreclosure
and amounts advanced to protect the lien
of the insured mortgage and secured by
said insured mortgage at the time of ac-
quisition of such estate or interest in the
land; or
(iii) the amount paid by any govern -
mental agency or instrumentality, if such
agency or instrumentality is the insured
claimant, in acquisition of such estate or
interest in satisfaction of its insurance
contract or guaranty.
(b) Continuation. of Insurance
after Conveyance of Title
The coverage of this policy shall continue
in force as of Date of Policy, in favor of
an insured so long as such insured retains
an estate or 'interest in the land, or owns
an indebtedness secured -by a purchase
money mortgage given by a purchaser
from such insured, or so long as such in-
sured shall have liability by reason of
covenants of warranty made by such in-
sured in any transfer or conveyance of
such-estate or interest; provided, however,
this policy shall not continue in force in
favor of any purchaser from such insured
of either said estate or interest or the in-
debtedness secured by a purchase money
mortgage given to such insured.
3. Defense and Prosecution of Ac-
tions- Notice of Claim to be Given
by an Insured Claimant
(a) The Company, at its own cost and
without undue delay, shall provide for the
defense of an insured in litigation to the
extent that such litigation involves an
alleged defect, lien, encumbrance or other
matter insured against by this policy.
(b) The insured shall notify the Com-
pany promptly in writing (i) in case of
any litigation as set forth in (a) above,
(ii) in case knowledge shall come to an
insured hereunder of any claim of title
or interest which is adverse to the title
to the estate or interest or the lien of the
insured mortgage, as insured, and which
might cause loss or damage for which the
Company may be liable by virtue of this
policy, or (iii) if title to the estate or in-
terest or the lien of the insured mortgage,
as insured, is rejected as unmarketable.
If such prompt notice shall not be given
to the Company, then as to such insured
all liability of the Company shall cease
and terminate in regard to the matter or
matters for which such prompt notice
is required; provided, however, that fail-
ure to notify shall in no case prejudice
the rights of any such insured under this
policy unless the. Company shall be pre-
judiced 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 without
undue delay prosecute any action or pro-
ceeding or to do any other act which in
its opinion may be necessary or desir-
able to establish the title to the estate
or interest or the lien of the insured mort-
gage, as insured; and the Company may
take any appropriate action, whether or
not it shall be liable under the terms of
this policy, and shall not thereby con-
cede liability or waive any provision of
this policy.
(d) Whenever the Company shall have
brought any action or interposed a defense
as required or permitted by the provisions
of this policy, the Company may pursue
any such litigation' to final determination
by a court of competent .jurisdiction and
expressly reserves the right, in its sole
discretion, to appeal from any adverse
judgment or order.
(e) In all cases where this policy per-
mits or requires the Company to prose-
cute or provide for the defense of any
action or proceeding, the insured here-
under shall secure to the Company the
right to so prosecute or provide defense in
such action or proceeding, and all appeals
therein, and permit the Company to use,
at its option, the name of such insured
for such purpose. Whenever requested by
the Company, such insured shall give the
Company, at the Company's expense, all
reasonable aid (1) in any such action or
proceeding in effecting settlement, secur-
ing evidence, obtaining witnesses, or prose-
cuting or defending such action or pro-
ceeding, and (2) in any other act which
in the opinion of the Company may be
necessary or desirable to establish the
title to the estate or interest or the lien
of the insured mortgage, as insured, in-
cluding but not limited to executing cor-
rective or other documents.
4. Proof of Loss or Damage Limi-
tation of Action
In addition to the notices required un-
der Paragraph 3(b) of these Conditions
and Stipulations, a proof of loss or dam-
age, signed and sworn to by the insured
claimant shall be furnished to the Com-
pany within 90 days after the insured
claimant shall ascertain or determine' the
facts giving rise to such loss or damage.
Such proof of loss or damage shall de-
scribe the defect in, or lien or encum-
brance on the title, or other matter in-
sured against by this policy which con-
stitutes the basis of loss or damage, and,
when appropriate, state the basis of cal-
culating the amount of such loss or dam-
age.
Should such proof of loss or damage
fail to state facts sufficient to enable the
Company to determine its liability here-
under, insured claimant, at the written
request of Company, shall furnish such
additional information as may reasonably
be necessary to make such determination.
No right of action shall accrue to in-
sured claimant until 30 days after such
proof of loss or damage shall have been
furnished.
Failure to furnish such proof of loss or
damage shall terminate any liability of
the Company under this policy as to such
loss or damage.
5. Options to Pay or Otherwise
Settle Claims and Options to Pur-
chase Indebtedness
The Company shall have the option to
(Conditions and Stipulations Continued and Concluded on Last Page of this Policy)
cta
P-218 -A (G.S.) Rev. 8 -73 •
California Land Title Association
Standard Coverage Policy -1973
SCHEDULE A
Date of Amount of Insurance: $ 190000.0.0
Policy: June 26, 1.975 at 4:06 p.m.
•' 1. Name of Insured:
CITY OF SAN LUIS OBISPO,
a municipal corporation
Policy No: 103216
Charge $ 143.00 (A -2 —a)
2. The estate or interest in the- land described herein and. which is covered by this policy is:
An.Easement.
3. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF SAN LUIS. OBISPO,
a municipal corporation
A.. The land referred to in this policy is situated in the State of- California; County of San Luis Obispo
and described as follows:
SEE DESCRIPTION ATTACHED CONSISTING OF ONE PAGE:
0
F•25 (G.S.) •
DE SCRI P TI ON
That portion of Lots L. M. and N of the Resubdivision of Lots 58, 61, 62, 63, 64
and 65 of the Subdivision of the Ranchos Canada de Los Osos and La Laguna, in the
County of San Luis Obispo, State of California, according to map filed for record
January 30, 1875 in Book A, at page 161 of Maps, described asp-
follows:
Beginning at the most Northerly_ point of Tract 169, as recorded on Page 45 of
Book 6 of Maps as filed in the Office of the Recorder of the County of San Luis
Obispo, California, said point being on the Southerly line of Madonna Road; thence
along said Southerly line of Madonna Road which.bears North 62° 30' East a distance
of 54.90 feet; thence South-5° 48' 47" East a distance. of 246.80 feet; thence South
19° 57' 37" East a distance of 244.39 feet; thence South 0° 26' 53" West a distance
of 182.46 feet; thence South. 20° 33' 06" West a distance of 235.26 feet; ;thence
South V 50' 57" West a distance of 252.36 feet; ;thence South. 14° 21' 20" West a
distance of 373.89 feet; thence South.l° 00' 32" East a distance of 322..13 feet;
thence North 55° 30' West a distance of 63.90 feet; thence along the Easterly line
of Tract 169 to the true point of beginning through.the following courses.;
North 7° 25' 16" East a distance of 116.08 feet; thence North 10 00' 32" West a
distance of 154.16 feet; thence North 90 39' 39" East. a distance of 128.27 feet.;
thence North. 14° 21' 20" East a distance of 267.10 feet.; thence.North.3° 50' 57"
East a distance of 228.68 feet; thence North 110 14' 33 "'East a distance of 101.44
feet; thence North.160 42' 13" East a distance. of 207.16 feet.; thence North -0 26'
53" East a distance of 100.02 feet; thence North 19° 57' 37 "- West a distance 215.04
feet; thence North 5° 48''4' West a distance of 201.68 feet; thence North 14° 39' 55"
West a distance of 71.55 feet to the point of beginning.
P-21 8-B (G.S.) Rev. 8 -73
California Land Title Association
Standard Coverage Policy -1973
SCHEDULE B
This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any
or all of which arise 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.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings,
whether or not shown by the records of such agency 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 the land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, 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. (a) Unpatented mining claims; (b) reservations or exceptions in . patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
6. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred
to in Schedule A, or in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this
paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a
physically open street or highway is insured by this policy.
7. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy, use, or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation
in ownership or a. reduction in the dimensions or area, of the land, or the effect of any violation of any such law,
ordinance or governmental regulation.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known
to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest
insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant
to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss
or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting
in loss or damage which would not have been sustained if the insured claimant had been a purchaser or encum-
brancer for value without knowledge.
(Schedule B continued on next page of this Policy)
Calif BB (G. S.) Rev. soc
• California Land Title Association
Standard Coverage Policy -1973
PART II
1. General and special taxes for the fiscal year 1975 -76, now a lien, but not
yet due and payable.
2. Rights, easements, conditions, restrictions and covenants as contained in
agreement recorded July 19, 1967 in Book. 1442 at page 299 of Official Records by
and between Florino Dalidio (estate of) by Thelma Perozzi, executrix, Thelma
Perozzi, Ernest Dalidio, and Melvin Dalidio and Pacific Western Contractors, Inc.
3. Rights and conditions as ordered, adjudged and decreed by a Final Judgement
in Condemnation, a certified copy of which was recorded June 26, 1975 in Book 1840
at page 217 of Official Records.
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CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy. Facel
pay or otherwise settle for or in the name
of an insured claimant any claim insured
against, or to terminate all liability and
obligations of the Company hereunder by
paying or tendering payment of the
amount of insurance under this policy
together with any costs, attorneys' fees
and expenses incurred up to the time of
such payment or tender of payment by the
insured claimant and authorized by the
Company. In case loss or damage is
claimed under this policy by the owner
of the indebtedness secured by the insured
mortgage, the Company shall have the
further option to purchase such indebted-
ness for the amount owing thereon to-
gether with all costs, attorneys' fees and
expenses which the Company is obligated
hereunder to pay. If. the Company offers
to purchase said indebtedness as herein
provided, the owner of such indebtedness
shall transfer and assign said indebtedness
and the mortgage and any collateral se-
curing the same to the Company upon
payment therefor as herein provided. Upon
such offer being made by the Company,
all liability and obligations of the Com-
pany hereunder to the owner of the in-
debtedness secured by said insured mort-
gage, other than the obligation to ,pur-
chase said indebtedness pursuant to this
paragraph, are terminated.
6. Determination and Payment of
Loss
(a) The liability of the Company
under this policy shall in no case exceed
the least of:
(i) the actual loss of the insured
claimant; or
(ii) the amount of insurance stated
in Schedule A„ or, if applicable, the
amount of insurance as defined in para-
graph 2(a) hereof; or
( iii) if this policy insures the owner
of the indebtedness secured by the insured
mortgage, and provided said owner is the
insured claimant, the amount of the un-
paid principal of said indebtedness, plus
interest thereon, provided such amount
shall not include any additional principal
indebtedness created subsequent to Date
of Policy, except as to amounts advanced
to protect the lien of the insured mortgage
and secured thereby.
(b) The Company will pay, in ad-
dition to any loss insured against by this
policy, all costs imposed upon an insured
in litigation carried on by the Company
for such insured, and all costs, attorneys
fees and expenses in litigation carried on
by such insured with the written author-
ization of the Company.
(c) When the amount of loss or dam-
age has been definitely fixed in accor-
dance with the conditions of this policy,
the loss or damage shall be payable with-
in 30 days thereafter.
7. Limitation of Liability
No claim shall arise or be maintainable
under this policy (a) if the Company,
after having received notice of an alleged
defect, lien or encumbrance insured
against hereunder, by litigation or other-
wise, removes such defect, lien or encum-
brance or establishes the title, or the lien
of the insured mortgage, as insured, with-
in a reasonable time after receipt of such
P -218 (G.S.) Rev. 8 -73
notice; -(b) in the event of litigation until
there has been a final determination by
a court of competent jurisdiction, and
disposition of all appeals therefrom, ad-
verse to the title or to the lien of the in-
sured mortgage, as insured, as provided
in paragraph 3 hereof; or (c) for liability
voluntarily admitted or assumed by an
insured without prior written consent of
the Company:
8. Reduction of Insurance; Termin-
ation of Liability
All payments under this policy, except
payment made for costs, attorneys' fees
and expenses, shall reduce the amount of
the insurance pro tanto; provided, how-
ever, if the owner of the indebtedness
secured by the insured mortgage is an in-
sured hereunder, then such payments,
prior to the acquisition of title to said
estate or interest as provided in paragraph
2(a) of these Conditions and Stipulations,
shall not- reduce pro tanto the amount of
the insurance afforded hereunder as to any
such insured, except to the extent that
such payments reduce the amount of the
indebtedness secured by such mortgage.
Payment-in full by any person or vol-
untary satisfaction or release of the in-
sured mortgage shall terminate all liabil-
ity of the Company to an insured owner
of the indebtedness secured by the insured
mortgage, except as provided in paragraph
2(a) hereof.
9. Liability Noncumulative
It is expressly understood that the
amount of insurance under this policy, as
to the insured owner of the estate or
interest covered by this policy, shall be
reduced by any amount the Company may
pay under any policy insuring (a) a
mortgage shown or referred to in Schedule
B hereof which is a lien on the estate
or interest covered by this policy", or (b)
a mortgage hereafter executed by an
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 under this
policy. The Company shall have the option
to apply to the payment of any such mort-
gage any amount that otherwise would
be payable hereunder to the insured owner
of the. estate or interest covered by this
policy and the amount so paid shall be
deemed a payment under this policy to
said insured owner.
The provisions of this paragraph 9 shall
not apply to an owner of the indebtedness
secured by the insured mortgage, unless
such insured acquires title to said estate
or interest in satisfaction of said indebt-
edness or any part thereof.
10. Subrogation Upon Payment or
Settlement
Whenever the Company shall have paid
or settled a claim under this policy, all
right of subrogation shall vest in the Com-
pany unaffected by any act of the insured
claimant, except that the owner of the in-
debtedness secured by the insured mort-
gage may release or substitute the per-
sonal liability of any debtor or guarantor,
or extend or otherwise modify the terms
of payment, or release a portion of the
estate or interest from the lien of the
insured mortgage, or release any collateral
security for the indebtedness, provided
such act occurs prior to receipt by such
insured of notice of any claim of title or
interest adverse to the title to the estate
or interest or the priority of the lien of
the insured mortgage and does not result
in any loss of priority of the lien of the
insured mortgage. The Company .shall be
subrogated to and be entitled to all rights
and remedies which such insured claimant
would have had against any person or
property in respect to such claim had this
policy not been issued, and the Company
is hereby authorized and empowered to
sue, compromise or settle in its name or in
the name of the insured to the full extent
of the loss sustained by the Company.
If requested by the Company, the insured
shall execute any and all documents to
evidence the within subrogation. If the.
payment does not cover the loss of such
insured claimant, the Company shall be
subrogated to such rights and remedies
in the proportion which said payment
bears to the amount of said loss, but such
subrogation shall be in subordination to
an insured mortgage. If loss should result
from any act of such insured claimant,
such act shall not void this policy; but the
Company, in that event, shall as to such
insured claimant 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.
11. Liability Limited to this Policy
This instrument together with all en-
dorsements and other instruments, if any,
attached hereto by the Company is the
entire policy and contract between the
insured and the Company.
Any claim of loss or damage, whether
or not based on negligence, and which
arises out of the status of the lien of the
insured mortgage or of the title to the
estate or interest covered hereby, or any
action asserting such claim, shall be re-
stricted to the provisions and conditions
and stipulations of this policy.
No amendment of or endorsement to this
policy can be made except by writing en-
dorsed hereon or attached hereto signed
by either the President, a Vice President,
the Secretary, an Assistant Secretary, or
validating officer or authorized signatory
of the Company.
No payment shall be made without pro-
ducing this policy for endorsement of such
payment unless the policy be lost or de-
stroyed, in which case proof of such loss
or destruction shall be furnished to the
satisfaction of the Company.
12. 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.
13. THE CHARGE SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE.
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