HomeMy WebLinkAboutCT 85-24; REAL ESTATE 2, LLC; 1998-0826926; EasementPLEASE COMPLETE THIS INFORMA
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THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
(Additional recording fee applies)
Rec.Form #R25 (7/3/97)
.I
RECORDING REQUESTED y:
CO"0NWEALTH LAND TlTL
-. FXCORDING REQUEST &?NY 0
WHEN RECORDED MAIL TO,
AND MAlL TAX STATEMENTS TO:
1504
City of Carlsbad
1200 Carlsbad Village Drive
Carlsbad, CA 92008 /-"I - 7 / Document Transfer Tax; I 79 9 /y I/ I " Signature of Declarant or Agent: KldG
~~~~~Q.~ o& ,wi *w@-
Y A.P.N. #: 212-130-21-00
GKANT DEED
REAL ESTATE 2, LLC, a California Limited Liability Company, hereby GRANTS to the
CITY OF CARLSBAD, a Municipal Corporation, all of its right, title and interest in and to the rc
property commonly known as Lot 96 of Carlsbad Research Center, City of Carlsbad, California,
more specifically described as follows:
-
LOT 96 OF CARLSBAD TRACT NO. 85-24, UNIT 5, CARLSBAD RESEARCH
CENTER, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF
CALIFORNIA ACCORDING TO MAP THEREOF NO. 12815, FILED IN THE OFFI(
OF THE COUNTY RECORDER OF SAN DEGO COUNTY, MAY 16,1991.
On this I q day of December, 1998, in the County of San Diego, State of California,
herewith sign this Quit Claim Deed.
REAL. ESTATE 2, LLC, a California
Limited Liability Company (&f&c&. A!&
by: William A. Shirley, Managing
Member 6
State of California )
County of San Diego )
On December /'# , 1998, before me,- publlc, personally appeared
WILLIAM A. SHIRLEY, known to me (or proved to me on the basis of satisfactory evidence)
the person(s) whose name(s) isk subscribed to the within instrument and acknowledged to mc
helskgkkey executed the same in hislhefkkeir authorized capacity(ies), and that by hislh-edthir
signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) ac
executed the instrument.
1 ss
.i fl .! ,.. /5c.s.g.-r; >bd>y 0W.,-e+f-i,$C c-
WITNESS my : and official seal. ,,,J$dJ (seal)
Signature
. "
I Q 1 y&c>. q
e (I) 1505
CERTIFICATION FOR ACCJP'Z'ANCE OF DEED
This is to certify that the interest in real property
conveyed by the deed or grant dated December 14, 1998
from Real Estate 2, LLC
to the City of Carlsbad, California, a municipal corporation,
is hereby accepted by the City Council of the City of Carlsbad
California pursuant to resolution NO. 98-415 , adopted
011 December 15, 1998 , and the gralltee consents to tile
recordation thereof by its duly authorized officer.
Dll'l'ED : December 17, 1998
By:
CLTA STANDARD COVERAGE ISSUED BY COMMONWEALTH LAND TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE - 1
Commonwealth
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDl
AND THE CONDITIONS AND STIPULATIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Penns
corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the P
of Insurance stated in Schedule A, sustained or incurred by the 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 the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land;
and in addition, as to an insured lender only:
5. The invalidity or unenforceability of the lien of the insured mortgage upon the title;
6. The priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being shown in Schedule B in the ordc
priority;
7. The invalidity or unenforceability of any assignment of the insured mortgage, provided the assignment is shown in Schedule B, or the
of the assignment shown in Schedule B to vest title to the insured mortgage in the named insured assignee free and clear of all liens
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title or the lien of the insured mortgage, as i
but only to the extent provided in the Conditions and Stipulations.
IN WITNESS WHEREOF, Commonwealth Land Title Insurance Company has caused its corporate name and seal to be hereunto aff its duly authorized officers, the Policy to become valid when countersigned on Schedule A by an authorized officer or agent of the Con
COMMONWEALTH LAND TITLE INSURANCE COMl
Attest: &( A. &Ay By: k*
Secretary Chairman and Chief Exccutivc
EXCLUSIONS FROM COVERAGE
1. (a) Any law, ordinance or governmental regalation (including but not limited to building or zoning laws, ordinances, or regu restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or loc;
governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance r
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a not defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records
(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 paid value for the insured mortgag
the estate or interest insured by this policy.
CLTA Standard Coverage Policy - 1990
Page 1 Form 1 183-1 Valid Only If Schedules A and B and Cover Are ORIGINAI
1. DEFINITION OF TERMS.
The following terms when used in this pdcy mean:
Company would have had agamst the named Insured, those who succeed to the Interest of the
(a) ”msured”: the insured named in Schedule A, and, subject to any rlghts or defenses the
named insured by operation of law as dktmguished from purchase including. but not hmited to.
heirs, distributees, devisees, survivors. personal representatives, next of kin, or corporate or fiduciary
SUCCCSSO~S. The term “insured’ also includes
(i) the owner of the indebtedness secured by the insured mortgage and each successor In ownership of the mdebtednzss except a snccessor who IS an obligor under the prowsions of Section IZ(c) of thrsc Conditions and Stlpulations (reserving, however. all rights and defenses as to any successor that the Company would have had against any predecessor Insured, unless the successor
encumbrancc. adverse claim or other matter mured against by this policy as affecting title to the acquired the indebtedness as a purchaser {or value wlthout knowledge of the asserted defect, hen,
estate or interest in the land);
guarantor under an insurance contract or guaranty Insuring or guaranteeing the indebtedness (ri) any governmental agency or governmental instrumentality which 1s an insurer or
secured by the insured mortgage, or any part thereof, whether named as an insured herem or not;
(iil) the parties designatcd in Sectmn 2 (a) of these Conditions and Stlpulations.
@) “insured claimant”: an insured claiming loss or damage.
(c) “insured lender”: the owner of an insured mortgage.
(d) “insured mortgage”: a mortgage shorn in Schedule B, the owner of which is named as an
may h imputed to an insured by reason of the public records as defined In this policy or any other (e) “knowledge” or “known”: actual knowledge, not constructive knowledge or notice which
records which impart constructive notice of matters affecting the land.
(0 “land’: the land described or referred to in Schedule I AI, and Improvements afflxed thereto which by law constitute real propert). The term “land” does not include any property beyond the lines of thz area descnbed or referred to in Schedule ( A). nor any right, title, interest, estate or easement in ahuttmg streets, roads. avenues. alleys, lanes, ways or waterways, but nothlng herein
shall modrfy or limlt thc extent to which a risht of access to and from the land is insured by thls policy
insured in Scheduie A.
proceedlng or to do any other act which in its opinion may he necessary or des
(b) The Company shall have the right. at its own cost, to institute and pn
title to the estate or interest or the lien of the insured mortgage, as insured, or
loss or damage to an insured. The Company may take any appropriate actio this policy, whether or not 11 shall be hable hereunder. and shall not thereb!
walve any provtsion of this policy. If the Company shall exercise its rights unl shall do so diligently.
permitted by the provlslons of thls policy, the Company may pursue an (c) Whenever the Company shall have brought an action or interposed a d
detemlination by a court of competent jurisdiction and expressly reserve? I dis-rction, to appeal from any adverse judgment or order.
(d) In all CdSeS where this pollcy permits or requlres the Company to pro the defense of any actlon or proceedlng, an insured shall secure to the Cam prosecute or provide defense in the action or proceeding, and all appeals tht Company to use. at its option, the name of such insured for thls purpose. W
in any action or proceedmg, securing evidence, obtaining witnesses, prosecut
the Company. an Insured, at the Company’s expense. shall give the Company
action or proceeding, or effecting settlement, and (ii) in any other lawful act wt the Company may he necessary or desirable to establish the tltle to the estate
of the insured mortgage, as insured. If the Company is prejudiced by the fai
furnish the required cooperation, the Company’s obligations to such insured I,
terminate, including any liability or obligation to defend, prosecute, or continuf regard to the matter or matters requiring such cooperation.
5. PROOF OF LOSS OR DAMAGE.
In addltlon to and after the notlces required under Section 3 of th
Stipulatmns have been provided the Company, a proof of loss or damage sign
each insured claimant shall be iurnished to the Company withln 90 days after
shall ascertain the facts giving rise to the loss or damage. Thc proof of loss or d
the defect in, or lien or encumbrance on the title, or ocher matter insured a1
which constnutcs the basis of loss or damage and shall state. to the extent p ..
(g) ”mortgage”: mortgagc. ded of trust. trust deed, or other security Instrument. calculating the amount of the loss or damage. If the Company is prejudiced (h) “public records”: records estahlished under state statutes at Date of policy for the purpose insured claimant to provide ‘he Iequlred proof Of loss Or damage’ ‘he Company’
of impartrng constructwe notrce of matters relating to real property to purchasers for value and Ic”d~~KI:r,:~~,’~~~~~n~t~h~~~~~~~~~~~~~~e~~i~~~g~~~p~~ without knowledge.
(i) “unrnarkctahility of the title”: an alleged or apparent matter affecting the title to the land.
not excluded or exccpted from coverage, ,which would entitle a purchaser of the estate or interest
described in Schedule 4 or the insured mortgage to he released from the obligatlon to purchase by wrtue of a contractual condltlon requinng the delivery of marketable title
2. CONTINUATION OF INSURANCE.
. (a) Aitcr Acquwtlon of Tltle by Insured Lender. If thia policy insures the owner of the
indebtedness secured by the insured mortgage, the co>erage of this pohcy shall continue In forcc as of Date of Policy in favor of (i) such Insured lender who acqulres all or any part of the estate or
mannci which dlschargcs the lien of thc insured mortgage, (ii) a transferee of the estate or interest so
interest In thc land by foreclostire. trustee’s sale. convcyance in lieu of foreclosure, or other legal
’acquired from an insured curpuratlon, provided the transferce is the parent or wholly-owned subsidiary of the msured corporatloi., and their corporate successors by operation of law and not by
purchase, suhJect to any nghts or defenses the Company may have against any predecessor insureds; and (iii) any governmentd agency or govcrnmenta! instrumentality whlch acquires all or any part of the estate or interest pursuant to a contract OS insurance or guaranty lnsunng or guaranteeing :he
indebtedness secured by the insured morlgage.
(b) After Conveyance of Title by an Inscrcd. The coverage of this policy shall contlnue In forcc as of Date of Pohcy in favor of an insured only so long as the insured retains an estate or interest In
from the Insurcd, or only so long as the Insured shall have liability by reason of covenants of
the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser
warranty made by the Insured in any transfer or conveyance of the estate or interest. This policy
shall not continue in force in favor of any purchaser from an insured of either (i) an estate or
Interest In the land, or (li) an indebtedness secured by a purchase money mortgage glvcn to an
insored.
(c) Amount of Insurance. The amount oi msurance after the acqusition or after the conveyance by an insured lender shall In neither cvcnt exceed the least of.
(i) The amount of insurance stated in Schedule A;
Date of Policy, interest thereon. expenses of foreclosure, amounts advanced pursuant to the Insured
(il) The amount of the principal of the 1ndeb:edness secured by the insured mortgage as of
mortgage to assure compliance with laws or to protect the i!en of the Insured mortgage prior to the
time of acquisition of the estate or Interest in the land and secured thereby and reasonable amounts expended to prevent delenoration of improvements. but reduced by the amount of all payments
made; or
agency or the mstrumentality is the insured claimant. in the acquisition of the estate or interest in
(iil) The amount pald by any governmental agency or governmental instrumentality, if the
satisfaction of 11s Insurance contract or guaranty.
3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT.
An insured shall notifs the Comnanv nromotlv in writine. (i) In case of anv litleatlon as set forth
oath by any authonzed representative of the Company and shall produc
In addition, an msured claimant may reasonably be requlrcd to submit t(
inspectlor? and copying, at such reasonable times and places as may be designate representative of the Company, all records, hooks. ledgers, checks, correspondcl whether hearing a date before or after Date of Policy, whlch reasonably pe damage. Further. if requested by any authorized representalive of the Co clalman: shall grant its pcrmission, In writing, for any authonzcd represenratlve examine, inspect and copy all records, hooks, ledgers, checks, correspondence an, custody or control of a third party, which reasonably pertain to the loss or dam; designated as confidentlal by an insured claimant provided to the Company purs shall not he disclosed to others unless. in the reasonable judgment of the Compd! the administratlon of the clalm. Failure of an insured claimant to submit for oath, produce other reasonably reqcested mformallon or grant permission 1( necessary information from thlrd partles as required in this paragraph. unlcss p governmental regulation. shall terminate any llabllity of the Company under tt insured for that claim.
6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS;
TERMINATION OF LIABILITY.
In case of a claim under this policy. the Company Shall have the following
(a) To Pay or Tender Payment of the Amount of Insurance or to Purchase
any costs, attorneys‘ fees ana expenses incurred by the insured claimant, whlch (i) to pay or tender payment of the amount of insurance under thls I
the Company. up to the tlme of payment or tender of payment and which the C
to pay; or
by the insured mortgage, to purchase the indebtedness secured by the insurec
amount ouing thereon together with any costs, attorneys’ fees and expenses mcu claimant which were authorized by the Company up to the time of purch;
Company is obligated to pay.
(ii) in casc loss or damage 1s claimed under this pohcy by the owner of the i
If the Company offers to purchase the indebtedness as herein provlded,
with any collateral security, to the Company upon payment therefor.
indebtedness shall transfer, assign, and convey the indebtedness and the Insured
and obligatlons to the Insured under this policy. other than to make the paymt Upon the exercise by the Company of the option provided for In paragrag
paragraph. shall terminate, lncludmg any liabillty or obligation to defend, prosect Miration. and the nolicv shall be surrendered to the Comoanv for cancellatlon. . .. ._ In 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or Interest whlch is adwrse to the title to the estate or Interest or the hen of the Insured mortgage, as Upon the exercise by thc Company of the option provlded for in pa insured. and which mlght cause loss or damage for which the Company may be liable by v~rtue of Company‘s obligation to an insured Lender under thrs pollcy for the claimed lo? thrs policy. or (iii) if title to the estate or Interest or the hen OS the insured mortgage, as insured, is than the payment requlred to be made, shall terminate. Including any habillt
rejected as unmarketable. If prompt notice shall not he given to the Company. then as to that defend, prosecute or continue any Iltlgation. insured all liability of the Company shall terminate with regard to the matter or matters for which
prompt notice is requ~red; provided, however, that failure to notify the Company shall in no case
prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the C‘aimant’
failure and then only to the extent of the prejudice.
_. ,- .. .,
(b) To Pay or Otherwise Settle Wlth Parties Other than the Insured or
(i) to pay or otherwise settle wlth other parties for or In the name of an in
4. DEFENSE AND PROSECUTION OF ACTIONS DUTY OF INSURED
.. claim insured against under thls policy, together with any costs. attorneys’ incurred by the insured clalmant which were authorized by the Company up to th CLAIMANT TO COOPERATE.
(a) Upon written request by an insured and subject to the options contained in Section 6 of and which ‘he Company Is obligated to pa’; Or
these Conditions and Stipulations, the Company, at 11s own cost and without unreasonable delay,
shall provide for the defense of such insured in litigation in which any third party asserts a claim (ii) to pay or otherulse settle with the insured clalmant the loss or damage 1
adverse to the title or rnterest as insured. bur only as to those stated causes of action alleging a this poiicy’ together with any CoStS’ attorneys‘ fees and expenses incurred by lh
defect, lien or encumbrance or other matter insured against by this policy. The Company shall have which were authonzed by ‘he Company up to the lime Os paymen‘ and whit'
the rieht to select counsel of its choice (sublect to the rieht of such insured to obiect for reasonable Obligated to pay.
cause) to represent the insured as to those stated causes of action and shall not be liable for and will
not pay the fees of any other counsel. The Company will not Pay any fees, costs or expenses b(li), the Company’s obligations to the insured under this policy for the claime Upon the exerase by the Company of either of the options provided for in
Incurred by an insured in the defense of those causes of action whlch allege matters not Insured other than the payments required 10 be made, shall terminate, including any liabili
against by thn policy defend, prosecute or continue any litigation.
,~
Conditions and Stipulations Continued Inside Cover
B 1 1 83;l 0 CONTROL NO.. 1; 1:~ “_ -=’ ‘I. .I. ’-. .~, . I. -
0 0
Commonwealth
POLICY OF TITLE INSURANCE
Issued by
COMMONWEALTH LAND TITLE INSURANCE COMPANY
SCHEDULE A
Amount of Insurance: $1,565,000.00
Premium: $ Prepaid
Date of Policy: December 17, 1998 at 4:48 p.m.
Policy/File Number: 101550(
1. Name of Insured:
City of Carlsbad
2. The estate or interest in the land described herein and which is covered by this policy is:
A FEE
3. The estate or interest referred to herein is at Date of Policy vested in:
City of Carlsbad,
a municipal corporation
4. The land referred to in this policy is situated in the County of San Diego, State of
California, and is more particularly described in Exhibit "A" attached hereto and made a
part hereof.
Commonwealth Land Title Insurance Compa
By:
b[ -
CLTA Standard Coverage Policy
0 a
1015500
EXHIBIT "A"
Lot 96 of CAFXSBAD TRACT NO. 85-24, UNIT 5, CARLSBAD RESEARCH CENTl
in the City of Carlsbad, County of San Diego, State of California, according to Map
thereof No. 12815, fded in the Office of the County Recorder of San Diego County, Ma
16, 1991.
APN: 2 12- 130-2 1-00
CLTA Standard Coverage Policy
a '0
1015500
SCHEDULE B
EXCEPTIONS FROM COVERAGE
THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE (AND THE COMPANY
WILL NOT PAY COSTS, ATTORNEYS' FEES OR EXPENSES) WHICH ARISE BY
REASON OF:
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 whic
could be ascertained by an inspection of the land or which may be asserted by 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, whether or not
the matters excepted under (a), (b) or (c) are shown by the public records.
CLTA Standard Coverage Policy
e 0
1015500
SCHEDULE B
PART I1
A. General and special taxes, including any personal property taxes, and assessments
collected with taxes for the fiscal year 1998-1999.
Total: $15,439.08
First Installment: 7,719.54 Paid
Second Installment: 7,719.54 Not Paid
Penalty: 78 1.95 7 if Delinquent
Land: 764,000.00
Improvements: 00.00
Homeowners’ Exemption: $00.00
Code:
Parcel:
09094
212-130-21
B. An assessment by the improvement district shown below
Bond No: 3
Series: AM#2 85-2
District: Carlsbad
For: Amended#2 85-2 College 1915
Bond Issued: 03/25/86
C. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Sectit
75, et seq. of the Revenue and Taxation Code of the State of California.
1. An easement for the purpose shown below and rights incidental thereto as set forth
in document
Granted to: Barbara J. Higdon
Purpose: Ingress and egress for road and incidental purposes
Recorded: December 31, 1969 as File No. 236218 of Official Records
Affects: Portions of the herein described land, the exact location of which ca
be determined by examination of the above-mentioned instrument?
which contains a complete legal description of the affected portions
said land
Said easement has been granted and reserved in various deeds of record.
CLTA Standard Coverage Policy
e '0
1015500
NOTE: A portion of said easement was modified by instrument recorded September 1;
1971 as File No. 211501 of Official Records.
Reference is made to said document for fill particulars.
2. An easement for the purpose shown below and rights incidental thereto as set fol
in document
Granted to: George R. Bolton and Mui Ly Bolton
Purpose: Ingress and egress for road and incidental purposes
Recorded: April 25, 1977 as File No. 77-151223 of Official Records
Affects: Portions of the herein described land, the exact location of which (
be determined by examination of the above-mentioned instrument,
which contains a complete legal description of the affected portion
said land
Said easement has been granted and reserved in various deeds of record.
Reference is made to said document for full particulars.
3. An agreement to which reference is hereby made for full particulars,
Dated: August 22, 1986
By and
between: Carlsbad Research Center and the City of Carlsbad
Regarding: Drainage
Recorded: November 3, 1986 as File No. 86-501526 of Official Records
4. Covenants, conditions and restrictions (deleting any restrictions indicating any
preference, limitation or discrimination based on race, color, religion, sex, handicap,
familial status or national origin) as set forth in the document
Recorded: June 29, 1988 as File No. 88-313420 of Official Records
Said instrument also provides for the levy of assessments, the lien of which are stated to
subordinate to the lien of a first mortgage or first deed of trust made in good faith and fo
value.
Said covenants, conditions and restrictions provide that a violation thereof shall not defea
or render invalid the lien of any mortgage or deed of trust made in good faith and for
value.
The provisions of said covenants, conditions and restrictions were extended to include the
herein described land by an instrument
CLTA Standard Coverage Policy
0 0
1015500
Recorded: December 8, 1992 as File No. 1992-0786590 of Official Records
Modification(s) of said covenants, conditions and restrictions
Recorded: June 1, 1995 as File No. 1995-0230848 of Official Records
5. An agreement to which reference is hereby made for full particulars,
Dated: December 21, 1990
By and
between: Upland Industries Corporation and the City of Carlsbad
Regarding: Drainage
Recorded: May 6, 1991 as File No. 1991-0208521 of Official Records
6. An agreement to which reference is hereby made for full particulars,
Dated: April 24, 1991
By and
between: Upland Industries Corporation, a Nebraska corporation, and the Ci
of Carlsbad, a municipal corporation
Regarding: To pay bridge and thoroughfare fees
Recorded: May 6, 1991 as File No. 1991-0208522 of Official Records
7. An agreement to which reference is hereby made for full particulars,
Dated: April 24, 1991
By and
between: Upland Industries Corporation, a Nebraska corporation, and the Cj
Regarding: To pay drainage fees as required by the Growth Management Prog
of Carlsbad, a municipal corporation
and the adopted Local Facilities Management Plan for Zone - 5
Sunnycreek Drainage Area
Recorded: May 6, 199 1 as File No. 199 1-0208523 of Official Records
8. Provisions of the dedication statement on the map shown below, which offer the
land herein described for future street or alley and restrict the use thereof
Map of 12815
Affects: A portion of Lot 96 reserved for future street purposes, as shown (
the Map of said Tract
9. The fact that the owners of said land have no rights of vehicular access to the strc
or highway abutting said land, except the public right to travel on same. Said rights hav
been relinquished by the dedication provision on the map of the Tract referred to below.
CLTA Standard Coverage Policy
0 'e
1015500
Tract No: 12815
Affects: Ingress or egress to or from Halley Drive from that portion of Lot 5
"Reserved for Future Street"
10. An easement for the purpose shown below and rights incidental thereto as set fortk
in document
Granted to: San Diego Gas and Electric Company
Purpose: Public utilities, ingress and egress
Recorded: November 8, 1993 as File No. 1993-0748735 of Official Records
Affects: A Plat is attached to and made a part of said document which
indicates the location or approximate location of said easement.
CLTA Standard Coverage Policy
" e .' e
"Ov, : "0-4 o>
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-. cw ITIONS AND STIPULATIONS - CONTI w
7. DETERMINATION AND EXTENT OF LIABILITY. wlth these Conditions and Stipulations, the loss or damage shall be pa) (b) When liability and the extent of loss or damage has been definite1
Thls policy is a contract of indemnity against actual monetary loss or damage sustained or thereafter' incurred by the insured claimant who has suffered loss or damage by reason of matters insured ,*, SUBROGATlON UPON PAYMENT OR SEnLEMENT, against by this policy and only to the extent herein described.
(a) The liability of the Company under this policy to an insured lender shall not exceed the (a) The Company's Right of Subrogation.
Whenever the Company shall have settled and paid a claim under tl
(i) the Amount of Insurance stated in Schedule A, or, if appllcable. the amount of subrogation shall veSt In the Company unaffected by any act Of the insured ( insurance as defined in Section 2 (c) of these Conditions and Stipulatlons; The Company shall be subrogated to and be entitled to all rights an(
(ii) the amount of the unpaid principal indebtedness secured by the insured mortgage insured 'Iaimant would have had against any perSon Or Property in respect as limited or provided under Section 8 of these Condltions and Stipulations or as reduced under pOllcy not been issued. If requested by Ihe Company, the insured 'Iaimar
this policy occurs, together with interest thereon; or Secdon 9 of these Conditions and Stipulations. at the time of loss or damage insured against by ~~f~$yo~~~~~~a~~~, r~~~~~u~~~~&~t ~~~~~&!,,~r~~~~~",~~
settle in the name of the insured clamant and to use the name of the in:
least of:
the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. If a payment on account of a claim does not fully cover the loss of the Company shall be subrogated (i) as to an insured owner, to all rights
(b) In the event the insured has acquired the estate or interest in the manner described in proportion which the Company's payment bears t0 the whok amount Of the Section 2(a) of these Conditions and Stipulations or has conveyed the title, then the liability of the h";F;",'~~~~~,"~~~t~s~~~~~~l~~~e~~e~~~,o,f~~o~~~~~ti~~~mant afier the Company shall continue as set forth in Sectlon 7(a) of these Conditions and Stipulations.
(c) The liability of the Company under this poky to an insured owner of the estate or void this policy, but the Company, in that event, shall be required to pay If loss should result from any act of the insured clamant, as stated at
losses insured against by this policy which shall exceed the amount, if an! by reason of the impairment by the insured claimant of the Company's right
(iii) the difference between the value of the insured estate or interest as insured and transaction Or litigation inVolving these rights Or remedie'.
inte%t in the land described In Schedule A shall no exceed the least of:
(i) the Amount of Insurance stated in Schedule A; or,
the value of the insured estate or interest subject to the defect, lien or encumbrance insured (ii) the difference between the value of the insured estate or interest as insured and
against by this policy.
(d) The Company will pay only those costs, attorneys' fees and expenses incurred In accordance with Section 4 of these Conditlons and Stipulations.
8. LIMITATION OF LIABILITY.
encumbrance, 0-r cures the lack of a right of access to or from the land, or cures the claim of (a) If the Company establlshes the title, or removes the alleged defect. lien or
unrnarketability of tltle, or otherwise establishes the lien of the insured mortgage, all as Insured, In a reasonably diligent manner by any method, including litigation and the completlon of any appeals therefrom, it shall have fully performed Its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby.
consent, the Company shall have no lhability for loss or damage until there has been a final (b) In the event of any litigation, including litigation by the Company or with the Company's
determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title, or, if applicable, to the lien of the insured mortgage, as insured.
voluntarily assumed by the insured in settling any claim or suit without the prior written consent of (c) The Company shall not be liable for loss or damage to any insured for llability
the Company.
(d) The Company shall not be liable for: (i) any Indebtedness created subsequent to Date of Policy except for advances made to protect the lien of the insured mortgage and secured thereby and reasonable amounts extended to prevent deterioration of improvements; or (li) corlstruction loan advances made subsequent to Date of Policy, except construction loan advances made subsequent to Date of Policy for the purpose of financing in whole or in part the corstruction of an improvement to the land which at Date of Policy were secured by the Insured mcrtgage and which the insured was and continued to be obligated to advance at and after Date of I'olicy.
9. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY.
expenses, shall reduce the amount of the insurance pro tanto. However, as to an insured lender. (a) All payments under this policy, except payments made for costs, attorneys' fees and
any payments made prior to the acquisition of title to the estate or interest as provided in Section 2(a) of these Conditions and Stlpulatlons shall not reduce pro tanto the amount of the insurance
afforded under this policy as to any such insured, except to the extent that the payments reduce the amount of the indebtedness secured by the insured mortgage.
obligation secured by the insured mortgage, or any voluntary partial satisfaction or release of the (b) Payment in part by any person of the principal of the indebtedness, or any other
insured mortgage, to the extent of the payment, satisfaction or release, shall reduce the amount of insurance pro tanto. The amount of insurance may thereafter be increased by accruing interest and advances made to protect the lien of the insured mortgage and secured thereby, with interest thereon. provided in no event shall the amount of insurance be greater than the Amount of Insurance stated in Schedule A.
(c) Payment in full by any person or the voluntary satisfaction or release of the insured mortgage shall terminate all liability of the Company to an insured lender except as provided in Section 2(a) of these Conditions and Stipulations.
10. LIABILITY NONCUMULATIVE.
It is expressly understood that the amount of insurance under this policy shall be reduced by arly amount the Company may pay under any policy insuring a mortgage to which exception is tacen in Schedule B or to which the insured has agreed, assumed, or taken subject. or which is hereafter executed by an insured and which is a charge OF lien on the estate or interest described or .referred to in Schedule A, and the amount so paidcshall be deemed a payment under this pcdicy to the insured owner.
The provisions of this Section shall not apply to an insured lender, unless such insured acquires title to said estate or interest in satisfaction of the indebtedness secured by an insured mortgage.
111. PAYMENTOF LOSS.
(a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company.
CLTA Standard Coverage Policy - 1990 Cover Page
Form 11 83-3 ORIGINAL
(b) The Insured's Rights and Limitations.
Notwithstanding the foregoing, the owner of the Indebtedness set mortgage. provided the priority of the lhen of the insured mortgage or it affected, may release or substitute the personal hability of any debtor or g otherwise modlfy the terms of payment, or release a portion of the estate c of the insured mortgage, or release any collateral security for the indebtedn
any claim of title or interest adverse to the title to the estate or Intel When the permitted acts of the insured claimant occur and the insu
enforceability of the lien of the insured mortgage, as Insured. the Compar pay only that part of any losses insured against by this pol~cy which shall any, lost to the Company by reason of the impairment by the insured clain rlght of subrogation.
(c) The Company's Rights Against Non-Insured Obllgors.
The Company's rlght of subrogation against non-insured obligors include, without limitatlon. the rights of the insured to Indemnities, guaral insurance or bonds, notwlthstanding any terms or conditfons contained which provide for subrogation rights by reason of this policy.
The Company's right of subrogatlon shall not be avoided by acql mortgage by an obligor (except an obligor described in Section 1 (a)(li) of Stipulations) who acqulres the insured mortgage as a result of an inden policy of insurance. or bond and the obligor will not be an insurl notwithstanding Section 1 (a)(i) of these Conditions and Stlpulations.
13. ARBITRATION.
Unless prohibited by applicable law, elther the Company or the arbitration pursuant to the Tltle Insurance Arbitration Rules of the Association. Arbitrable matters may include, but are not llmlted to, an> between the Company and the insured arising out of or relating to this PO
All arbitrable matters when the Amount of Insurance is $1,000,000 or les Company in connection with its issuance or the breach of a policy provis
the option of either the Company or the insured. All arbitrable matter: Insurance is in excess of $1,000,000 shall be arbitrated only when i Cornpar?] and the insured. Arbitration pursuant to this policy and under thl date the demand for arbitration IS made or, at the option of the insured, the of Policy shall be binding upon the parties. The award may include attol laws of the state in whlch the land is located permlt a court to awar prevalling party. Judgment upon the award rendered by the Arbitrator@) court having jurisdiction thereof.
The law of the situs of the land shall apply to an arbitration und Arbitratlon Rules.
A copy of the Rules may be obtained from the Company upon reques
14. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRAC
(a) Thls policy together with all endorsements, if any, attached her the entire policy and contract between the insured and the Compan! provlsion of this policy, this pollcy shall be construed as a whole.
out of the status of the lien of the insured mortgage or of the title to the es (b) Any claim of loss or damage, whether or not on based on neglig
hereby or by any action asserting such claim, shall be restricted to thls pol,
(c) No amendment of or endorsement to this policy can be mal endorsed hereon or attached hereto signed by either the President, Secretary, an Assistant Secretary, or a validating officer or authorized sigr
15. SEVERABILITY.
In the event any provision of this policy is held invalid or unenforceab the policy shall be deemed not to include that provision and all other pn full force and effect.
16. NOTICES, WHERE SENT.
All notices required to be given the Company and any statement il furnished the Company shall include the number of this policy and COMMONWEALTH LAND TITLE INSURANCE COMPANY, 1700 Mark PA 191 03-3990.
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