HomeMy WebLinkAbout; VAUGHN, ALEATHA W.; 217542; Easement.y,$*:. "x .&: +-.v . . ' .$&f.,-,- ,?::,&3:, , ,. .; e"+:$&.y.? ,
Ord.er Number ...? hlhQ0. .............. Number...&.?+TQ : ,.L... 25&Y5a2@ Escrow -Y.*->. 3"-I .
-. L RECORDING REQUESTED BY' FILUPAGE Nd RECORDEb. REQWT OF
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. ... DEC 18 9:Oo AM It$
WHW RECOR~~Q~PLEASE MAIL TO SERIES 2 BOOK 19661 OFFICIAL RECORDS 1% .%AN DlEGO COUNTY, CALFc > _..... ...................................................................... ti?$ of Carasbad ............-... A S. GRAY, RECORDER % C it;y flanagey
........... *.@. XPiO ...E .ko .... Dri1.e ..................... .I_"...
_......... ~c~rl.~~ad~.*~.~~~fo.r.n.ia~"~ .......I...... . ""."
SPACE ABOVE THIS LINE FOR
Grant Deed
............. ................. ......................................................................."...................."......
.......... Ale~~ha..J?l,..-~~u~-.~.-~ ........................................................................................................................
For a Valuable Consideration, the receipt of which is hereby acknowledged, do ........
GRANT to... .......C.. .. y.~.~~~-~-a~~~~.ad -,"- a"~n~~~~~~-.~.~~-~~~~~-~~.~~ .................................................................... ,.
.....................................................................................................................................................................................................
all that real property situated in the County of ................. SXLQ~~~D .................... ~~.~, State of California, described as Descrip3ion attached:
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Lots 15 and 16 of the Optimo Tract, in the City of Carlsbad,
County of San Diego, State of California, according to map
thereof No. 1805, fi.led in the offtce of the County Recorde of San Diego County September 4, 1924..
Excepting therefrom that portion thereof lying Southwesterly c
of the following described lines:
Commencing at a point on the center line of Chestnut Avenue according to map thereof No. 1805, distant thereon North 89°09f451' West 57.01 feet from a 2 inch capped iron pipe set for the intersection of said center line and the center line of Eureka Place, as shown an said map; thence North
16°43r2811 West 31.47 feet-to the Northerly line of said
Chestnut Avenxe; thence North 63°49130ff West 42.05 feet;
thence North 37°00145" West 78.82 feet; thence Berth 23°08f501' West 870.00 feet.
Also excepting that portion of said Lots 15 and' 16 which
lie-Westerly of the West line of the East 50.25 feet of said Lots, and lying North of a line which is parallel with and 180.20 feet Southerly from the North line of said Lot 15.
.......................................................................................... ....................
........................................................................................... STATE OF CALIFORNIA,
COUNTY OF..-^^^.^^^^^^..-^^!^^^^-^^ _______ } ss. /' /i O~.~~~~~~~~~~~~~-~~~.~~~~~~-, -7 ,, L. / before me, the undersigned, a Notary Public f~r-"~~~~~~.~~~~~~~~"~~ ____.
.... ............................................ California, personally appeared.. ...... ............/............ gj"cL.L&-ag-L7-
.4 .................................................................................................................................................................................................... .. known tome to be the person ........ whose name ...... e-d? .................................................... ...subscribed to the within instrux
acknotvledged that executed the same. *,
PiTrrk~ss'rny hand ani @cia1 seal.
(Seal) .,
,. .................... Ad77 __ -<-L ~~"-~""~?.-~~~~~-~-..~-.:~~~~~-~~~ v/ .........
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/'(Notary Public's Signature) ,.' .. , .... .- ., . -- . 3423
EEC 2564 5-60* P.S.
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for -Ih? C-:;c',: ::: :5: r.::?? :::.!e of C&fornia
My Comm;sslcr; Enpi,-c; i?.p:il 25, 1963
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SECURITY FIRST NATIONAL BAN-
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B Received above from: s to be used in accordance with written instructions in said escrow.
John SLater
Caxlsbad Branch
i Credit 5. F. N. Escrow Funds Account NO. m BY i
. . - . . . . . . . , -
Subject to: . . ..
1. General and special taxes for the fiscal year 1961-1962 (second installme
2. Rights, rights of way and easements for public utilities, water companieE
'. alleys and streets; and covenants, conditions and restrictions, now of re
if any.
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adopted at a regular meeting on September 19, 1961. 'i- . j I. <'., <,, . .: This deed is hereby accepted by the City of Carlsbad pursuant to a .~,eep~lu.t;ior
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'" ..-I * I Dated _______ ~ ___. ~-~amb.e.lr.-~3.,...19.fjl. _______ --- cFau=L7J-tLL/ ~-"-..~--""--~-------~~ ""_. ~ """. ~ _________ ~Lz%y"~ R ________ ALEATHA W. VAUGHN / I """"""""""""~~""""-~"""~~~"""~~""~"-~~"""~""""""~"""
"""~~~""""""_____.____.___.___.~.~."""~~"~"""~"""~~~"~~"~""""".
""""".""..."_______._____.__.___~"""~..""""""""""~~"""~.""""~ STATE OF CALIFORNIA, COUNTY OF-~-%&M-.L&A. "J }ss. F """.
O&-C%Z&&./-~.L/-?~~--, .. before me, the undersigned, a Notary Public for---^--^--^^^^^^.^^^^^^.,,^^--^ d __..
California, personFlly, appeared .._________._ d&-dkL&.cu---&L ..__ iL:.LL-.LL.d /" .~LA:LL .___._._.___.___________________________---- 7" """".""...~. '".$:""*-,.~2 .".."i ..""""",~..""__.________ --- """"""""""____._______. """" """ _""- ---.-.---. -.-"-"-"-" ."" -----_ """ __-.-_ """. ~ ""."."
known&:+&tb &the pet;son..: _____ whose name ______ e __________.________.____________________-..---..--.-. ..subscribed to the within instn
acknowledge~,~~t-..~~-..executed the same.
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W~ESS my hand an3 ~Scial seal. ..i,;*,*
., , *:'I ., 'U1 (Seal) , -:i:.... .,;,j ;$;+4'+ '?: ; - ,,.. L: ,,;.;;; ;,;'x ~ ', ;;3 '; /;,;; ,, -2: .* .' ;I * ' ..I :' . ' ."""" Az- ""_ 1 "". ."~~*~~~~~~~~..~~~... *I """ '.. : - , d? 0491 'I - $ .$ h +?" .~ BPN KE'J'r Y'(. Fja'ary Public in end " / '(Notary Public's Signature) ,,, .'..~.(C&&k~$~&.,'.- ,,I;; - , .. ..
ESC 9564 a.w*"?:& .' . . -I GI " ".- ., +,",\:, , .,;,
_I for the Cody of San D,icgo, State sf,californle ' .
My Commission 'Expiros April 25, '1963 , , :+:I i, .,. I 1 :.-. 'i: ' ' .
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AGREEMENT
3 ' THIS AGBEEKENT is entered into in duplicate this 7 ' day of 14~~ a?
4 1 and the CITY OF CARLSBAD, a municipal corporation organized and existing u 5
1961, by and between ALEATHA W. VAUGHN hereafter collectively called "Vaug
qj the laws of the State of California, herenfter'called "C:ityn,, It is inten
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1 described in Exhibit E attached hereto and made a part hereof. 8
to cover the rights and obligations of the parties in and to that property
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$I 11. 1, For $17,340,22 Vaughn agrees to sell and City agrees to buy the pr
10 1 described on Exhibit A. attached hereto and made a part hereof.
11 2. For $1.00 per parcel per year, payable in advance, plus other cons
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parcels of land2 13
ation herein set forth, Vaughn hereby leases to City the following describ
parcel on the earlier of the following dates: 18
for a period commencing on the date of execution hereof and ending as to e 17
PARCEL 3 As described on Ekhibit D attached hereto and madC a part 16
PARCEL 2 As described on Exhibit C: attached hereto and made a part 15
PARCEL 1 As described on Exhibit B.attached hereto and made a part 14
19 (1) The conveyance of said parcel by Vaughn to the City, or
2o ! (2) The termination of the option given to the City pursuant to I
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Paragraph 3 he~eof.
22 3* In consideration of the mutual covenants and agreements herein con
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in Paragraph 2 hereof upon the following terms and conditions: 24
Vaughn hereby grants to- City options to purchase the parcels of land speci
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PARCEL MH IB IT - PRICE OPTION TO EXPIRE
1 B:. $5,962.85 December 31, 1962
2 C $5,659.65 December 31, 1963
3: D. $5,356,46 December 31, 1964
The options to purchase shall be exercised successively and in case Z
option shall not be exercised on or before the date limited, all succeedir
options shall lapse and terminate.
C.ity rt-gxees that it will not sell any of the property transferred to
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Vaughn until the earlier of (a) the expiration of three years from the dat
hereof, or (b) the date of acquisition by City of all of the parcels descr
in Paragraph 3 above. City may lease or sub-lease as it desires.
4. Gfithin 5 days after the date of execution of this agreement Vaughn
deliver in escrow to the Security First National Bank, Carlsbad Branch her
after called the "Bank", a grant deed to the property described in Paragra
above with instructions to the escrow officer to deliver said deed to CitJ
upon receipt by the escrow:officer for the account of Vaughn of the sum of
$.17,340*22.
City shall, within 5 days after receipt of notice that the Bank has I
ceived such deed, deposit the purchase price for such property in escrow J
the Bank under instructions to pay such sum to or €or the account of Vaugl
when the Bank has for the City a policy of title insurance in the face arra
of such purchase price in its standard form, insuring title to be vested
Library Board of Trustees of the City of Carlsbad free and clean of all t,
conditions, reservations, restrictions, exceptions, defects, easements, r
of-way, liens, or encumbrances of any nature except:
(a) General and special city and county taxes for fiscal year
1961-1962 and all years succeeding that including penalties
and accrued interest;
(b) Special assessments which may be levied against the land by
any duly constituted governmental authority or district;
(C) The restriction on alienation provided for in Paragraph (3) abov
(d) Such other items as ore acceptable to the City Manager, such
acceptance to be expressed in writing to the escrow holder.
The closing date of the escrow for the property described in Paragr
shall be not later than December 31, 1961.
The delivery of the deed by Vaughn and the payment of the purchase
by City for each of the parcels.specified in Paragraph 3 above shall be
lished in the same manner except that the deed for each such parcel shal
delivered by Vaughn within 30 days after receipt by her of written notic
the exercise of the option as to such parcel by the City, and the amount
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€or such parcel in Paragraph 3:.above and delivered to escrow holder within 2
purchase price for such parcel to be paid by City shall be the amount spec!
3 days after receipt of notice that the Bank has received such deedr
4l : 5. Vaughn agrees to cooperate with City and the Bank to the fullest e:
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6 ii revealed by a preliminary title search.
of her abi1,fty to correct: any defects in her title to the property which m,
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7! 6, The cost of the title insuranue policy for each parcel and the cos
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deducted by the Escrow holder from the purchase price for the property and 9
Federal documentary stamps, if required, shall be borne by Vaughn and shal
10 disbursed to the title company issuing the policy of title insurance.
11 7, Any and all general and special city and county taxes for the fisc
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year l96lnh962. and all succeeding years and any and all other taxes or spe
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hereby leased shall be paid by City, and City shall not allow any of the p 14
maessments or other sinilar charges levied for such years on any of the p
thereon. 18
by it to pay any of such taxes or assessments, including penalties and int 17
harmless from any claim, loss, liability or expense arising out of any fai 16
erty to be sold for taxes. City agrees to indemnify Vaughn and hold her
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as follows: 20
8. There are certain buildings and improvements on various of the par
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Storage Shed 23
Xouse
V,4LUAT ICN FOR INSURANCE
$10,000.00
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purchase price to be paid under Paragraph 3 hereof shall be reduced by the 28
loss occur during the lease period and loss be paid to Vaughn on account 27
buildings in amounts specified above, loss payable to Vaughn, Should any 26
are under lease at its expense carry fire insurance or self-insure on suck 25
City agrees that it will during the time the parcels on which such propert
oE such payment.
30 9, City may make such improvements on leased lands as it may desire :
31 givini Vaughn at least 15 days written notice thereof so that she may takt
32 measures to assert her nonresponsibility for such improvements as she may
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1 At the termination of the lease for any cause on any parcel upon which impr I
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City has not purchased the land, title to such improvements shall pass to T 4
to be accomplished within 90 days of such termination. If not so removed L 3
ments have been made, C'ity shall have the option to remove such improvemer
5 10, Should any dispute arise between the parties hereto concerning an:
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fixed by the court. 8
in such litigation shall be entitled to recover reasonable attorney's fees 7
provisions of this agreement and litigation arise therefrom, the successfu:
9 11. City has inspected the entire premises and accepts them in their :
90
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condition. It assumes responsibility for the condition thereof throughout
Mrs. Aleatha- W. Vaughn City Manager, City of Carl 18
by deposit in the United States mail, postage prepaid addressed as follows 17
13, Any notices or demands hereunder may be served upon the parties h 16
premises during the respective lease terms thereon. 15'
12; City shall at its own expense repair any of the buildings upon th 14
City's occupancy thereof or operations thereon. 13
liability or expense arising out of the condition of the premises or out o 12
term hereof and agrees to save 2nd hold Vaughn harmless from any claim, lo
3365 Eureka. Place 2960 Pi0 Pic0 Drive 19
14. Vaughn agrees that City shall during the respective lease terms h 20
Carlsbad, California Carlsbad, California
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set forth, peacefully and quietly have, ho1.d and enjoy the leased premises
without any manner of suit, trouble or hindrance from Vaughn or her succes
interest .
15. Notwithstanding the other provisions hereof as to tire for exercj
termination of optians granted to either party, should either party be pre
from carrying out any option granted or performance called for herein, by
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or performance of the conditions hereof shall be extended until 30 days aj 28
order of a court of competent jurisdiction, the time for exercise of such
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there has been a fina1,judgment entered in such action, The party affect<
such order shall in good faith, diligently proceed with any such litigatic
order to effect a determination thereof at the earliest possible time,
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It is understood and agreed, however, that interest at the rate of s:
*4%B
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1, 6 h - .. - e a
1 percent (6%) per annum shall be paid by City on such part Of the purchas@ P
2 as may be delayed under this paragraph and which would have been payable at:
ier 61af;g bWc fQX the prQYiSJ?ri3 9f this p8raEr3phq
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9 BM3ARA LANG HAYES, City Attorney
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11 COUNTY OF SAN DIEGO
STATE OF CALIFORNIA. ss:'
12 I /I @ 13 On this 'II day of &iL~~[u4,', 1961, before me, the undersigned
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of its City Counci 1. 18
to me that such municipal corporation executed the same pursuant to a res0 17
corporation that executed the within and foregoing instrument, and acknowl 36
LA ROCHE, known to me to be the Mayor of the City of Carlsbad, the.municip 15
Notary Public in and €or said County and State, personally appeared WILLLA
19 7g&&&& 7 fl&&
Notaryjfjublic in and for sa
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IT%$ comi$sion expires 21
County and State
&&'U&,,, 37 . / ?L z:
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COUNTY OF SAiS DIEGO
STATE OF CALIFORNIA. ss:
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and for said County and State, personally appeared ALEATHA W. VAUGHN known 25
On this 7. day of &&24,$&@/ , 1961, before me, a Rotary Pu3
26,, t~ be the persons whose names are subscribed to the within instrument and
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27 ledged that they executed the same. L7 /&/d&A48A x [&ALL
30 $.nri-r&.q/ 2: .?, 1% /
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29 County and State
Motarg Public in and for si
'/l"ry commGsion expires 31
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' 1254 5-61 e 1ALItUKNIA LANU IllLt A\'ULIAIIUN YANUAIIU LUVC!AIIt TULIL! rVi( COPYRIGHT 1961 @
UNION TITLE INSURANCE 6OMPANY
SAN DIEGO 12. CALIFORNIA
AND
Title Insurance and Trust ComDanv
LOS ANGELES 54. CALIFORNIA 1 J
(HEREIN CALLED THE COMPANIES)
FOR A VALUABLE CONSIDERATION, PAID FOR THIS
Policy of Title Insurance
THE NUMBER, EFFECTIVE DATE, AND AMOUNT OF WHICH ARE SHOWN IN SCHEDULE A,
hereby insure the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of Su
Insured, or, if a corporation, its successors by dissolution, merger, or consolidation, against loss or damage not excee
ing the amount stated in Schedule A, together with costs, attorneys' fees, and expenses which the Companies m
become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain
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 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 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 Conditions and Stipulations hereto annexed, which Conditions and Stipulations, togeth
with Schedules A, B, and C, are hereby made a part of this Policy.
IN WITNESS WHEREOF, each of the Companies has caused its corporate name and seal to be hereunto affixed by
duly authorized officers on the date shown in Schedule A. B
TITLE INSURANCE AND TRUST COMPANY UNION TITLE INSURANCE COMPANY
Attest I ,' '' .,, $a, "". w~zy- ' w/-p- &.. Attes:/= I-,#/,,, /"" L;L~,.;L- . , ,,&\\;;.~-.:-+ ."."""_"" ,,Q . " ry / d: . ,\ .x" .
' Secretar
By"--.gy- fl ERNEST I. LO BECKE, President BY - -~ . . JAMES D. FORWARD, > IR., - President
"+/ I/-.-,,, ~ .,.,\ .:-,./. /,/+/ A~-.?;d.C* ,: .,\?$ ,;. ".,.e-. LF'L' [ /+== k2,:. Y.2" .. _. __ __""" - _.. ,' D - 92.2.
- Secretary.
, T, ,
CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY FORM
COPYRIGHT 1961
. 1255 6-61 @ ICLTA STANDARD COVERAIE &aw-owner FORM-COPYRIGHT 19611
I ' FEE" FORM 3 0
SCHEDULE A
Amount S 17,340 . 22 Fee s 116.00 Policy No. 741600
Effective Date December 17, 15'61 at 9: 00 A. M.
INSURED
City- of Carlsbad,
a Municipal corporation.
1. Title to the estate or interest covered by this Policy at the dgte hereof is vested in
City of Carlsbad, 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.
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 public records but which couid
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 public record.
5. Unpatented mininy claim; reservations or exceptions in patents or in Acts authorizing the issuance
thereof; water rights, claims or title to water.
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UNION TITLE INSURANCE COMPAII
2 -
1468 . 4-60 ~ 0 ICLTA STANDARD COVERAGE FORM-COPYRIGHT 19601 0
SCHEDULE B-Continued
PART II
1. Second installment San Diego County and the City of
Carlsbad taxes for the fiscal year 1961-62, including any special district levies, now payable and will be due February 1, 15162.
2. The fact that the ownership of said land does not in- clude access rights to the land acquired by the State of California for highway purposes, as entered in the
final order of condemnation, recorded November 12, 1952
in Book 4652, page 35’ of Official Records.
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UNPON TITLE INSURANCE COMPAN
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. 1256' 3-60 . lATA ADDITIONAL COVERAGE FORM) .- '(UTA EXTENDED COVERAGE OR STANDARD COVERAGE-1960) 0
SCHEDULE C
The land referred to in this policy is described as follows:
Lots 15 and 16 of the Optimo Tract, in the City of Carlsbad, County of San Diego, State of California, according to Map thereof No. 1805, filed in the Office of the County Recorder of San Diego County, September 4, 1324.
Excepting therefrom that portion thereof lying South-
westerly of the following described lines:
Commencing at a point on the center line of Chestnut
Avenue according to Map thereof No. 1805, distant thereon
North 89" 09' 45" West 57.01 feet from a 2 inch cappeci iron pipe set for the intersection of said center line
and the center line of Eureka Place, as shown on said Map; thence North 16" 43' 28" Idest 31.47 feet to the North- erly line of said Chestnut Avenue; thence North 63' 4gr 30" West 42.05 feet; thence North 37" 00' 45" West 78.82
feet; thence North 23" 08' 50" bkst 870.00 feet,
ALSO excepting that portion of said Lots 15 and 16 which lie Westerly of the Xest line of the Bast 50.25 feet of said Lots, and lying North cf a line which is parallel with and 180.20 feet Southerly from the North line of
said Lot 15'.
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UNION TITLE INSURANCE COMPAN 4 -
12S8 5-61. 'CALIFORNIA LAM IITLE ASSOCIATION . .STdNDARD COVERLGE POLICY FORM %NDITIONS AND STlPULATlONS COPYRIGHT 1961
[Includes those in the American Title Association.Owner's Policy.Standard
1. DEFINITION OF TERMS
Ihe lolloriing terms when used in this Policy mean:
(a1 "land": the land described, specifically or by reference,
stitute real property;
in Schedule C, and Improvements affixed thereto which by law con-
(b) "public records": those records which impart construc. live nolice of matters relating to said land;
(cl "kno,:iledge": actual knowledge, r;ot constructive knowl. edge or notice which may be imputed to Ihe Insured by reason of any public records;
Id) "date": the effective date:
[el "morlgage": mortgage, deed of Irust. trust deed, or other securlly inslrument; and If) "insured": the party or parties herein designated as
Insured. and if the owner 01 the indebtedness secured by a mort. gage shown in Schedule B is named as an Insured in Schedule A, the Insured shall include (1 1 each successor in interest in owner.
ship of such indebtedness. 121 any such owner who accuires Ihe estate or interest relerred to In this Policy by foreclosure. trusiee's sale, or other lecal manner in satislaction of said indebtedness, and 131 any federal agency or Instrumentality which is an insurer or guarantor uooer an insurance cooiract or guaranty insurlng or
named as an insured htiein 61 ilOt. guaranteeing said indebkdness, or any part Ihereof, whether
be given to the Companies ;r,llhin ten days of the recelpt of process notify the Compacies thereof in .writing. If such nolice shall not
or pleadings or if the Insured shall not, in writing, promptly
against which shall cone io the rno:vlecge oi the Insured. or il
notify Ihe Compar,ies 01 any defect, lien, or encumbrance insured
lhe Insured stall not, in ariting, oronptly notify the Companies 01 any such rejection by reason of claimed unmarketabilily of title.
tben all liability of line Companies in regard to the subject mat- ter of such action. proceeding, or matter shall cease and terminate;
the claim of any Insured unless the Companies shall be actually provided, however, that failure to notify shall in no case prejudice
prejudiced by such failure and then only to the extent of such preiudice.
institute and prosecu:e any ac:ion or praceedrng or do any other kl The Comlanies shall have the right at their oan cost to
lish the title of the estate or interest or the lien of the mortgage as insured: anc the Companies may take any appropriate action under the terms of thls Policy whether or not they shall be liable
thereunder and shall not thereby concede liability or vlaive any provision of this Policy.
(dl In a11 cases where this Policy permits or requires the Com?anies to prosecute or provide for the defense 01 any action or proceeding, the Insured shall secure to them the right to so prosecute or provide defense in such action or proceeding, and
all aooeals rherein. acd Dermit them to use. at their option. the
act iilhith in /heir opinion may be necessary or desirable io estaa,
2. EENEFITS AFTER ACPUlSlTlON OF TITLE
If an insured owner of the indebtedness secured hy a morlgage described in Schedule B acquires said estate or Interest. or any part thereof, by foreclosure, truslee's sale, or olher legal manner in satisfactlon of said indebledness. or any part thereof, or il a federal agency or instrumentality acquires saic estate or interest. or any part thereof. as a consequence 01 an insurance contract or guaranly insuring or guaranleeing the indebtedness secured by a mortgage covered by this Policy, or any part thereof. this Policy shall conlipue in force in favor 01 such Insured, agency or instru- mentality, subject 10 all of the conditions and sflpulalions hereof.
3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY
01 Ihe iolloa~ng: This Policy does not insure against loss or damage by reason
ing bul not limited 10 bullding and zoning o:dinances) restrichng la1 Any law. ordinance. or governmental regulation linclud.
or regulating or prohibiting the occupancy, use, or enjoyment of
any improvement no'n or hereafler erected on said land, or pro. the land, or regulating the characfer. dimensions, or location 01
hibiting a separation in ownership or a reductlon In ine dlmensions or area 01 any lot or parcel of land.
Ibl Governmen:al rights 01 police power or eminent domaln. unless notice of iudiclal action to exerclse such rights appears in the public records at Ihe dale hereoi.
pressly described in Schedule C, or tllle to streels, roads, avenues, (cl Title to any property beyond the lines of the land ex-
lanes, ways. or waterways on which such land abuts, or the right
Io maintain therein vaults. lunnels, ramps, or any olher structure or improvement; or any rights or easemenls therein, unless tbis Policy specifically provides lhal such property. rights. oi ease. menls are insured, except that, if the land abuls upon one or more physically open streels or highways. thls Policy insures the ordi- nary rights 01 abutting owners lor access to one of such streets or highways, unless oiher,wise excepted or excluded herein.
[dl Defects. liens, encumbrances, adverse claims against the
or agreed 10 by the Insured: or 121 known to the Insured either title as insured or other matters Ill created, suffered, assumed.
at the date of this Policy or at the date such Insured acquired an estate or interest insured by this Policy and not shown by the
shall have been made to the Companies prior to Ihe date of this public records, unless disclosure thereof in writing by the Insured
Policy; or 131 resulting in no loss 10 Ihe Insured; or 141 attaching or created subsequent to the date hereof.
(el toss or damage vihich would not have been suslained if lhe Insured were a purchaser or encumbrancer for value viithoul knowledge.
4. DEFENSE AND PROSECUTION OF ACTIONS-NOTICE OF CLAIM TO BE GIVEN BY THE INSURED
delay shall provide Ill for the defense of the Insured in all liti. la1 The Companies, at their own cost and wilhout undue
galion consisling of actions or proceedings commenced against the Insured, or defenses, restraining orders, or injunctions interposed against a forectosure or sale of the indebtedness secured by a mortgage covered by this Policy or a sale of the estate or interest in said land; or 12) for such action as may be appropriate to establish the title of the estate or inlerest or the lien of the mortgage as insured, which 'itigation or action in any of such events is founded upon an alleged defecl, lien, or encumbrance insured against by this Policy, and may pursue any litigation to final determination in the courl of lasl resort.
defense interposed, or in case knowledge shall come to the Insured Ibl In case any such aclion or proceeding shall be begun, or
of any claim 01 title or interest which is adverse to the title of the estate or interesf or lien of the morlgage as insured, or which might cause loss or damage for which Ihe Companies shall or may
faith contract to sell the indebtedness secured by a mortgage be llable by virtue of this Policy, or if the Insured shall in goad
covered by this Policy, or if an Insured in good failh leases or
bidder at a foreclosure sale under a mortgage covered by this contracts to sell, lease, or mortgage lhe same. or if the successful
estate or interest is reiected as unmarketable, the Insured shall Policy refuses to purchase and in any such event the title to said
CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY FORM COPYRIGHI 1961
UNION TITLE INSURANCE COMPLI
Companies. the Insured shall give the Companies all assistance in name of the Insured ior such purpose. lhenever requesied by the
any such action or proceeding, in eflectlng settlement, securing evidence, obtaining witnesses, or prosecuting or deiending such action or proceeding, and the Companies shall reimburse the In. sured for any expense so incurred.
5. NOTICE OF LOSS-LIMITATION OF ACTION
In addition to the notices required under paragraph lib). a statement in writing of any loss or damage for which it is claimed the Companies are liable under this Policy shall be furnished to the Companies within sixty days after such loss or damage shall
have been determined. and no right of action shall accrue to the
shall nave been iurnished, and no recovery shall be had by tl~e
Insured under this Policy until thirty days alter sucli statencnl
lrsured uoder This Policy unless action shall be commenced thereon ,Hithin he years after expiration 01 said thirty-day period. Failure to furnlsh sbch slatemenl of loss or damage, or to commence such
bar against maintenance by The Insured 01 any action under this action. within the tine herembefore specified, shall be a conclusive
Policy.
6. OPTION TO PAY, SETTLE, OR COMPROMISE CLAIMS
The Companies shall have !be option to pay or settle or con. promise for or in the name of the insured any clalm icsured againsl or to pay the iull anounl of this Policy, or, in case loss is claimed under this Policy by rhe oaner of lhe ~nde:~tedness secured by a mortgage covered by this Policy, the Conpanlei shall have the
Tender of payment 01 lhe lull amount of this Policy, together with option to purchase said indebtedness: such purchase. payment, or
all costs, attorxis' fees, and expenses which the Companies are obl:ga!ed bereunder to pay, shall terxinate all liabiltly of the Companies hereunder. In rhe event. after notice 01 claim has been giren io :be Cornpalies by tbe Insured, the Companies olfer to pur:hase sald ind:b:eir.ess, the oviner oi such indebtedness shall transfer ani assi&1 said indebiehess an3 the mortgage securing the same to the Com?anies upon payment oi the purchase price.
7. PAYMENT OF LOSS
(a1 Ihe liability of the Companies under this Policy shall in
no case exceed, iTi all. the actyal loss ai the Insured, and costs and atlorneys' fees which the Companies may be obligated here. under to pay.
against by :his Policy. all costs imposed upon the Insured in liti. Ibl The Companies shall pay, in addition to any loss insured
galion carried on by Ihe Companies lor the Insured, and all costs
and attorneys' fees in 1i:igation carried on by the Insured with the wrltlen authorization of the Companies.
[cl No claim for damages shall arise or be maintainable under this Policy (11 if the Conpanles, after having received notice of an alleged defect, lien, or encumbrance no! excepted or excluded herein, remove such defect, lien, or encumbrance within a reason- able lime alter receipt of such notice, or I21 for liability volun. larily assumed by the Insured in settling any claim or suit without written consent of the Companies, or 13) in the evenl the title is rejecfed as unmarketable because of a defect, lien, or encum. brance not excepted or Excicded in this Policy, until lhere has been a final determination by a court of competent iurisdiction suslain- ing such reieciior.
for costs, attorneys' fees, and expenses, shall reduce the amount [dl All payments under this Policy, except payments made
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 destroyei, in which case proof of such loss or destruction shall be furnished to Ihe satisfaction of Ihe Companies; provided, hoaever, if the o'mr of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein, then such pay. ments shall not reduce pro tanto the amount of the insurance afforded hereunder as lo such Insured, except to the extent that such payments reduce the amount of lhe indebtedness secured by such mortgage. Payment in lull by any person, or voluntary satis- faction or release by the Insured of a mortgage covered by this
owner of the indebtedness secured by such mortgage, except as Policy shall terminate all liabilily of the Companies lo the insured
provided in paragraph 2 hereof.
rNY
e
Farm1
with the coodihoos of this Policy. the loss or damage shall [el When liability has been definitely fixed in accorda
payable within thirty days Iherealter.
8. LIABILITY NONCUMULATIVE
reduced by any amount the Campanies may pay under any PC
It is expressly understood that the amount of this Polic
insuring the validity or prlority of any mortgage sho,rrn or reie'
10 In Schedule B hereof, or any mortgage hereafter executer the Insured which is a charge or lien on the estate or inte described or referred to in Schedule A. Ihe provisions of paragraph numbered 8 shall not apply to an Insured owner o
such Insured acquires tille to saic estate or interest in satis
indebtedness secured by a mortgage shown in Schedule B ur
tion of said indebledness or any part thereof.
9. COINSURANCE ANI APPORTIONMENT
la1 In the event that a partial loss occurs after an alter? or improvement subsequent to the date of this Policy, and on1
that event, the Insured becomes a co.insurer to the exlent t inafler sct lorth.
per centum of the amount of this Policy, such proportion on1 If Ihe cost of the alteration or improvement exceeds Iw
any partial loss established shall be borne by the Companie one hundred twenty per centum of Ihe amount of this Policy b to the sum of the amount 01 this Policy and the amount expe for the alteration or improvement. The foregoing provisions '
in prosecuting or providing for Ihe defense of actions or pro1 ings in behalf of the Insured pursuant 10 the terms of this P or to costs imposed on the Insured in such actions or proceed, and shall not apply to losses which do not exceed, in the a5 gate, an amount equal to one per cenlum of the lace amour this Policy. Provided, hovever, that Ibe foregoing cainsume provi'
shall not apply to any loss if, at Ihe time of the occurrence of loss, the then value of the premises, as so improved, doer exceed the amount 01 this Policy, and provlded furlher thal foregoing coinsurance provisions shall not apply lo an in! owner of an indebtedness secured by a mortgage shown in Schl B prior to acquisition of title to said estate or inlerest in 5 lacilon of said indebtedress or any part thereof.
divisible into separate and noncontiguous parcels, or if conti!
and such parcels are not used as one single site, and a 10 eslablished affecting one or more of said parcels but not all loss shall be computed and settled on a pro rata basis as i face amount of the policy were divided pro rata as to the on the dale of this Policy of each separate independent parc the n,hole. exclusive of any improvements made subsequent 1,
agreed upon as to each such parcel by the Companies ar date of this Policy, unless a liability or value lhas otherwise
Insured al the time of lhe issuance of this Policy and shown express slatemenl herein or by an endorsement attached h
10. SUBROGATION UPON PAYMENT OR SETTLEMENT
Policy, all right of subropation shall vest in the Companies Bhenever the Companies shall have settled a claim unde
fected by any act of the Insured, and they shall be subroga and be entitled 10 a11 rights and remedies which the 11 would have had against any person or property in respect 11 claim had this Policy not been issued. If the payment dol cover the loss of the Insured. the Companles shall he subrr to such righls and remedies in the proporlion which said pa bears 10 Ihe amount of said loss. If loss should result fro act of the Insured, such act shall not void this Policy. but tht panles, in that evenl, hall be required to pay only that p
any losses insured agalnsl hereunder which shall excee amount, if any, lost to the Companies by reason of the i
the Companies, shall transfer to the Companies all right ment of the right of subrogation. The Insured. if reques
remedies against any person or property necessary in or( perfect such right of subrogation, and shall permit the Com 10 use Ihe name of the Insured in any transaction or liti involving such rights or remedies. If Ihe Insured is the owner of the indebtedness secure( mortgage covered by this Policy, such Insured may release o
stitule Ihe personal liability of any debtor or guarantor, or or other;uise modify the terms of payment. or release a port the estale or inlerest from the lien of the mortgage, or r any collateral security lor Ihe indebtedness, provided SUI does not result ~n any loss of priorily of the lien of the mor
11. POLICY ENTIRE CONTRACT
Any action or actions or rights of action that the Insure have or may bring against the Companies arising out of Ihe of the lien of the mortgage covered by this Policy or the t the estate or inlerest insured herein must be based o provisions of this Policy. No provision or condition of this Policy can be wail
signed by the President, a Vice President, the Secreta1
changed except by writing endorsed hereon or attached
Assislanl Secretary, or other validating officer of the tom[
12. NOTICES, WHERE SENT
All notices required to be given the Companies, an statement in writing required to be furnished the Companies be addressed to them at San Diego, California.
not apply to NS\S and attomys' kt8 inwed by {he Cornpi
[bl If the land described or referred to in Schedule
13. THE FEE SPECIFIED In SCHEDULE A OF THIS PotlcY 1 TOTAL FEE FOR TITLE SEARCH AND EXAMINATION AH TITLE INSURANCE.