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HomeMy WebLinkAboutRan-Wil Development; 1989-08-16;e * PURCHASE AND SALE AGREEMENT AND ESCROW INSTRUCTIONS (Law Property) BETWEEN RAN-WIL DEVELOPMENT AND THE CITY OF CARLSBAD August 16, 1989 e e TABLE OF CONTENTS Paqc 1 . Agreement of Sale/Price ................ 1 2 . Escrow ........................ 2 3 . Closing Costs ..................... 3 4 . Environmental Site Assessment ............. 3 5 . Hazardous Materials Removal .............. 4 6 . Title ......................... 5 7 . Commissions ...................... 6 8 . Attorney's Fees .................... 6 9 . Notices ........................ 7 10 . Entire Agreement - Amendments ............. 7 11 . Successors ...................... 8 12 . Assignment ....................... 8 13 . Choice of Laws ..................... 8 14 . Waiver of Covenant, Condition, or Remedy ........ 8 15 . Interpretation of Agreement .............. 8 16 . Partnership ...................... 9 17 . Survival ........................ 9 18 . Time ........................... 9 e 0 PURCHASE AND SALE AGREEMENT AND ESCROW INSTRUCTIONS (Law Property) This Agreement is made as of the 23L day of /quccrsr 19=, by and between RAN-WIL DEVELOPMENT, a California gener( partnership (vtSellergv) and THE CITY OF CARLSBAD, California, municipal corporation ( IIBuyertg) . - R E C x T A 4 S: A,, Seller is the Owner of that certain parcel of re property (t.he "Propertyt1) in the County of San Diego, State 1 California, described in Exhibit A attached hereto and by th reference incorporated herein, consisting of 1.98 gross acres land. B,, Buyer desires to purchase the Property to provil for additional parking for City Hall and Library purposes and 0th municipal purposes as may be desireable in the future. C. The parties now desire to enter into an agreeme whereby Seller shall agree to sell and Buyer shall agree to buy t Property on the terms and conditions set forth herein. NOW, THEREFORE, Seller and Buyer hereby agree as follow 1. Asreement of Sale/Price Seller hereby agrees to sell and Buyer hereby agre 1 e 0 to buy the F'roperty for six hundred and sixty thousand ($660,000 The purchase price shall be paid by deposit of such sum into tl escrow described in Paragraph 2 hereof in time to permit tl closing thereof at the scheduled closing date. In no event sha said sum be deposited later than two (2) working days prior to t' close of escrow. 2. Escrow. (a) Within three (3) business days after t execution of this Agreement by both parties, a signed copy of th Agreement shall be deposited by Seller with the Spring Mounta Escrow Corporation ('*Escrow Holder") (Attn. Lynne Riemer, Escr Officer), 2725 Jefferson Street, Carlsbad, CA 92008. in order to open an escrow to complete the purchase and sale here contemplated. Reference herein to the opening of escrow shall me the date that a copy of this Agreement is deposited with Escr Holder. By such deposit, Escrow Holder is hereby authorized a instructed to act in accordance with the provisions of tl- Agreement, which Agreement, together with Escrow Holder's stande general provisions which are attached hereto as Exhibit B and this reference are incorporated herein, shall constitute Escr Holder's escrow instructions. Seller and Buyer shall each depos such other instruments and funds as are necessary to close t Escrow and complete the sale and purchase of the Property accordance with the terms hereof. (b) This escrow is scheduled to close on or befc Time is specifically a matter of essence Wj September 14, 1989. 2 0 0 respect to the closing and, notwithstanding anything to tl contrary in the printed escrow instructions incorporated in th. Agreement, the closing date may not be extended except by mutu; consent of the parties. (c) Buyer shall have the option, which shall 1 exercised on. or before August, 1989 to terminate this Agreement ai all of its obligations incurred in connection herewith withoi liability of any kind, except that if Buyer should elect 1 exercise it:; option to terminate, Buyer shall pay all costs 1 terminate the escrow. 3. Closinq Costs. Closing costs shall be borne by tl Buyer and Seller as follows: BUYER SELLER Escrow Fees 100% 0% Tj-tle Insurance Policy 100% 0% Documentary Transfer Tax 0% 100% Recording Fees 100% 0% Other Closing Costs 50% 50% Property taxes will be prorated to the date of the close of escrc and Seller will be responsible for paying for all delinquent ai non-delinquent property taxes. Buyer will take the steps requirt to cancel property taxes after the date of the close of escrow. 4. Environmental Site Assessment. Buyer shall obtain an environmental site assessmei of the Prsoperty to determine if any hazardous materia: contamination has occurred. For purposes of this Sectioi IIHazardous Ivlaterials1# shall mean any oil, flammable explosive2 asbestos, urea formaldehyde insulation, radioactive material: 3 0 0 hazardous wastes, toxic or contaminated substances or simili materials, including, without limitation, any substances which a: "hazardous substancesgr, "hazardous wastes", "hazardous material: or frtoxic substances" under the Comprehensive Environment( Response, Compensation and Liability Act of 1980, as amended, 1 U.S.C. 960:L, & sea., the Hazardous Materials Transportion Ac' 49 U.S.C. 1801, & seq., the Resource Conservation and Recove Act, 42 U.S.C. 6901, & seq., Sections 25117 and 25316 of tl California Health & Safety Code, or any other applicab environmental law, ordinance or regulation. Should such site assessment indicate th( contamination by hazardous materials, as defined, is present on tl Property, Buyer shall, within five (5) days of receipt of the si. assessment, notify Seller to perform pursuant to Section 5 of th Agreement. 5. Hazardous Materials Removal. Upon notification pursuant to Section 4 of th Agreement, Seller shall be solely responsible for removal ( elimination of the hazardous material contamination identified the site assessment, pursuant to all applicable federal, state ai local laws, regulations, ordinances and rules. The Seller here1 agrees to indemnify and hold the Buyer harmless from and again: all costs olf so removing such contaminations and restoring tl Property. The Seller hereby further agrees to indemnify a hold the Buyer harmless from and against, any losses, damage, 4 e 0 liabilities, claims, actions, judgements, court costs and legal ( other expenses (including attorneys' fees) which the Buyer ml incur as a direct or indirect consequence of the use, generatioi manufacture, disposal, threatened disposal, transportation I presence of "Hazardous Materials'' (as hereinafter defined) in, 01 under or about the Property. 6. Title. (a) Attached hereto as Exhibit C and by th reference incorporated herein is Lawyers Title Insuranc Corporation's Litigation Guarantee number 78-00002-471, dati February 13,, 1989, which covers the Property. Seller has agrei to convey title to the Property to Buyer and Buyer agrees to acce] title from Seller subject only to exceptions numbered two (2< three (3), four (4) and six (6) set forth in said litigatic guarantee which affect the Property, which consist of road ai utility easements, only. All other exceptions in said Litigatic Guarantee must be eliminated prior to close of escrow. Immediate: after the opening of escrow, Seller shall obtain a currei preliminary title report from Continental Land Title Compai showing the current state of title to the Property. Buyer shall have the right to disapproy any exception shown on such report that is not shown on the repoi attached hereto as Exhibit C. In the event that Buyer objects 1 any such additional exceptions and Seller is unable to eliminai such exceptj-ons, Buyer shall have the right either to waive its objection to such exceptions and close the escrow subject to su( 5 0 e additional exceptions or to terminate the escrow and all of if liabilities hereunder. (b) At the closing, Seller shall deposit into tl escrow a Grant Deed fully executed and in recordable form sufficient to convey to Buyer fee title to the Property. Said dec shall recite that title is conveyed subject to only those lien: leases, easements, encumbrances, covenants, conditions ai restriction and other matters of record set forth in subparagra] 6(a) above or which may be approved by Buyer in accordance wii subparagraph 6 (a) above. (c) At the close of escrow and as a conditic thereto, Continental Land Title Company shall agree to issue a CL! Standard Coverage Owner's Policy of Title Insurance, with liabilil in the amount of the purchase price for the property, showing tit: to the Property vested in Buyer or its designee, subject only 1 the exceptions approved by Buyer pursuant to subparagraph 4(2 above and to the non-delinquent real property taxes, speci: assessments and reservation of easements referred to : subparagraph 4(b) above. 7. Commissions. Buyer and Seller each represent 1 the other that they have not entered into any agreement or incurrt any obligation which might result in the obligation of the otht party to pay a sales or brokerage commission or finder's fee ( this transaction and agree to indemnify, defend and hold each otht harmless in the event such representations shall prove to 1 untrue. 6 * e 8. Attorney's Fees. In the event of any actic between Buyer and Seller seeking enforcement of any of the ten and conditions of this Agreement, or in connection with tl Property, the prevailing party in such action shall be awarded, addition to damages, injunctive or other relief, its reasonab costs and expenses, including reasonable attorney's fees. 9. Notices. All notices under this Agreement shall1 effective upon personal delivery to Seller, Buyer or Escrow Holde: as the case may be, or two business days after deposit in the United States mail, registered or certified mail, postage fu. prepaid and addressed to the respective parties as follows: To Seller: Ran-Wil Development 841 E. Rancheros Road Suite D San Marcos, CA 92069 To Buyer: City of Carlsbad 1200 Elm Avenue Carlsbad, CA 92008 Attn: City Manager Copy To: City Attorney Utilities & Maintenance Direct1 Spring Mountain Escrow Corporatioi 2725 Jefferson Street Carlsbad, CA 92008 ATTN: Lynne Riemer To Escrow Holder: Escrow Officer or to such other address as the parties may from time to til designate in writing. 10. Entire Asreement - Amendments. This Agreemei and the items incorporated herein contain all of the agreements t the parties hereto with respect to the matters contained hereii and no prior agreement or understanding pertaining to any sut matter shall be effective for any purposes. No provisions of th. 7 0 0 Agreement may be amended or modified in any manner whatsoever except by an agreement in writing signed by duly authorizt officers of each of the parties hereto, except that ai modifications which relate to the adjustment of time limitatio; (except the closing date) or to the form of documents may be mat by legal counsel to the parties. 11. Successors. The terms, covenants and conditio of the Agreement shall be binding upon and shall inure to t benefit of the heirs, executors, administrators and assigns of t respective parties hereto. 12. Assisnment. Buyer may not assign its righ hereunder without the prior written consent of Seller. 13. Choice of Laws. This Agreement shall be govern by the laws of the State of California and any question arisi hereunder shall be construed or determined according to such la 14. Waiver of Covenant, Condition, or Remedy. Th waiver by one party of the performance of any covenant, conditio or promise shall not invalidate this Agreement nor shall it considered a waiver by him of any other covenant, condition, promise. The waiver by either or both parties of the time f performing any act shall not constitute a waiver of the time f performing any other act or an identical act required to performed at a later time. this agreement shall not be a waiver of any consistent reme provided by law, and the provision in this Agreement for any reme shall not exclude other consistent remedies unless they a expressly excluded. The exercise of any remedy provided 8 0 0 15. Intemretation of Aareement. This Agreement sha. be construed as a whole and in accordance with its fair meaninc Captions and organization are for convenience and shall not be us( in construing meaning. The language of this Agreement shall nc be construed for or against either party. 16. Partnership. Seller warrants and represents th( it is a general partnership organized and existing under the la1 of the State of California, having its principal place of businer in the County of San Diego, California; William R. Brietzman ai Randy P. Marino are general partners authorized to execute th Agreement on behalf of Seller, and that the statement t partnership was recorded on October 14, 1985 as Document No. 8' 379822 of San Diego Official Records, Office of County Recorde: San Diego County. 17. Survival. This Agreement shall survive the close c escrow and shall remain a binding contract between the partic hereto. 18. Time. Time is of the essence of this Agreemen1 it being understood that each date set forth herein and tl obligations of the parties to be satisfied by such date have bet the subject of specific negotiation by the parties. 9 0 a IN WITNESS WHEREOF, Buyer and Seller have executed th Agreement as of the date first above written. RAN-WIL DEVELOPMENT By WILLIAM R. BRIETZMAN General Partner ATTEST: d-7 BY &/- By RANDY P. MARINO General Partner d., L -?A-2/ 3 d $7 '; BY 1 Ge dral 'Partnc Ll 10 0 0 EXHI BIT "A" LEGAL DESCRIPTION Parcel 1 of Parcel Map No. 15282 in the City of Carlsbad, County of San Diego, State of California, filed in the office of the County Recorder of San Diego County, June 30, 1988 as File/Page No. 88-317307 of Official Records. G ,, e &* QENERAL PROVISIONS 1. IT IS MUTUALLY UNDERSTOOD AND AGREED 8Y ALL PARTIES TO THIS ESCROW, JOlNfLY AND $EVE] 2. The close of escrow shall be the day documents deposited in thla escrow are recorded. 3. If the conditions of this escrow have not Men complied with at the time provided for in these instrucl 4. nevenheless to complete this. wcrow as soon as the conditions (except as to time) have been complied with, ui 5. demand for the return of money and/or instruments by a party to thls escrow is received by you prior to the re 6. instrument Drovlded for in these instructions 7. No notlce, demand, or change of Instructions shall be of any effect unless given to you in writing and approve 8. all parties affected by the same. 8. If, before or sfter recording documents, you receive or become aware of any conflicting demands or clai, 10. "conflict") wlth respect to lhls escrow, the rlghts or obligations of any of the parties or any money or propert) f 1. affected, you shall have the right to discontinue further performance on your part until the conflict is resolved to yoc 12. In addition, you shall have the right tocommenceor defend any action or proceeding you deem necessary for thed 13. of the conflict. A contllct shall be deemed to be your recelpt of unilateral instructions or mutual instructionbfrom! 14. all of the parties to this escrow. 15. Should any Controversy arise between the parties to this escrow or with any third person. you shall not be lis 16. 8CtiOn Of any kind, but may withhold all moneys, securities, documents or other thlngs deposited into esc 17. controversy has been determined by agreement of the partles or by legal process, 18. In the event any action is commenced to determine a conflict or otherwise to enforce or declare the Prov 13. instructlons or to rescind them Including, but not limited to: a suit In interpleader, whether or not the action is pro: 20. Judgment, VOluntartly dismissed Or settled, and irrespectlve of whether you are the prevalllng party in any Sucl 21. becomes necessary or desirable for you to obtain legal 8Uvice with respect to a conflict or on account of any 22. arising out of or in any way related to these instructlons, whether or not suit is actually commenced. the parties 23. jointly and severally agree to pay all of your costs. damages, judgments andexpenses, including attorneys' fees. i 24. In connection wi!h the same. 25. It is understood that the fees agreed to be paid for your services are for ordinary and usual services only, andl 26. any extraordinary or unusual services rendered by you, the undersigned agree to pay reasonable compensation 27, extraordinary or unusual services, together with any costs and expenses which may be incurrecf by you in conn 28. same; and you are hereby given a lien upon all documents, moneysand securitiesdsposited in this escrow untll yc 29. compensated Or reimbursed. It is understood that in the event this escrow is cancelled, you will receive compeF 30. services as you have rendered in connection with thls escrow. 31. Escrow holder shall not be held liable for sufficiency or correctness as to form, manner or execution 01 32. document deposited Into escrow, nor as to the Identity, authority, or rights of any person ertecutlng them, nor fo 33. party to this escrow to comply with any of the provisions of any agreement, contract or other instrument filed I 34. these instructions. The duties of escrow holder shall be limited to the safekeeping of money, instruments or 01 35. received by escrow holder and for the diepositlon of them in accordance with the written instructlonsaccepted b) 36. The knowledge of escrow holder of matters affecting the property, provided such factsdo not prevent compli 37. instructions. does not create any liability or duty in addition to the responSibiilty of escrow holder under the! 38. Escrow holder shall not be obligated to make any physical examination of any real or personal prcperty dl 39. document deposited into this escrow. The parties agree escrow holder Is not making any represetitationswhatsi 40. said property. 41 I Escrow holder shall be under no obligatlon or liability for failure to inform the partie to this escrow regardin! 42. exchange, or other transection of facts within the knowledge of escrow bolder concerning the herein described prc 43. It does not prevent escrow holder's compliance with these Instructions. 44. Escrow holder shall not be concerned with giving any disclosures required by federal or State law. tncludin 45. to, any disclosures required under Re ulation 2 pursuant to the federal Consumer Credit Protection Act, the eft8 46. laws, ordinances or regulations affec a lng any other property described in this escrow. The undersigned joint 47. agree to indemnify and hold escrow holder harmless by reason Of any misrepresentallon or omission by eith 48. respective agents or the failure of the parties to this escrow to comply with the rules Bnd/Or regulations of an 49. agency, state, federal, county, municipal or otherwise. Parties to this escrow have satisfied themselves outside 50. transaction is not in violation of the Subdivision Map Act or any other law reiating to land division, and escrow hd 51. all responsibility and/or liabllity in connection with the same and Is not to bs concerned with the eofvrcernei 52. You are authorlzed and instructed to utilize the services of a sub-escrow agent, within the scope of Sectior 53. California Administrative Code, as a depositary for funds and/or documents prior to close of escrow. if nece 54. Escrow is authorized and instructed to furnlsh information from this escrow to lenders and/or broFers as m 55. by them, including, but not limited to copies of all instructions and closing statements in this escroy, Escrow 56, accept funds deposited to our account by our broker or agent without further authorization. 57. All deposits made by the parties to thls escrow shall be deposited by escrow holder in an account design; 58. Trust Account" with any local bank, without any liability for Interest. All Uieburoements shall be made by check ( 59. drawn on said account. Escrow holder shall not be obligated to identify or 16 guarantee the signature of an< 60. checks. All documents and checks in favor of the parties shall be m8lled, unregistered, to the addresses of the re 81. set forth in these instructions. 62, These instructions may be executed in counterparts, each shall be deemed an original regardless of the da 63. dellvered, and said counterparts shalt constitute one and the same InStrUment. 64. The signature of the undersigned hereon and on any document(s) and instrument($) pertaining to this escro 65. unconditional acceptance and approval of the same, and the undersigned hereby acknowledge receipt of 66. instructions. 67. FXFTTRTT O( ! CITiGATION GUARANTEE 0 Lawyers Ttle Insurance Corporation Guarantee No. 78-00 a Virginia corporation, herein called the Company, SUBJECT TO THE EXCLUSIONS FROM COVERAGE. THE LIMITS OF LIABILITY AND OTHE PROVISIONS OFTHE CONDITIONS AND STIPULATIONS HERETO ANNEXED AND MADE A PAR OF THIS GUARANTEE, the Company. for the fee paid for this Guarantee. the nu er. amount and effectis date of which are shown herein. hereby Guarantee the parties herein called the Assured. against loss not exceedii the liability amount stated herein which the Assured shall sustain by r any inc rrectness in the assuran which the Company hereby gives that. according to the public ords. on e ecti date stated herein. on 1. The title to the herein described estate or in erest was vested in t e ee named. subje to the matters shoivn Exceptions herein, which ceptions e ot necessarily show i the order of their priority; Lopq IS WITSESS WHEREOF. the Company has caused this Guarantee to be signed and sealed. to be valid whe countersigned by an authorized officer or agent of the Company. all in accordance with its By-Lan.s. e-***\\, - ---- ++ MUU~;.~, ....-....,+ I hwyers Ttle Insurance @rpomtic I? :. - . - '. c 'c #&; .. 0 ' rt'. 19 L 5 .: vi I+'... .....*.... .. +!$e '\\~C."*roP. *- i="i$rfi@) '-%-&a Attest: 3&c? L,wa&n Countersigned by: Preside! %a& Secreta Copy of policy, no additional liability assumed Authorized Officer or Agent l.ll,~.,l,<m ~tt,.,,.'lIlW I I I< t t(1111 'A UL, ii~l.l.in~l.InMil e 0 LITIGATION GUARANTEE EFFECTIVE DATE: FEBRUARY 13, 1989 AT 8:OO A.M. GUARANTEE NUMBER : 78-00-002-471 ORDER NUMBER : 133731-05 LIABILITY: $10 0 000 00 PREMIUM: $400 . 00 YOUR REFERENCE: WILDER & LAW ASSURED : THE CITY OF CARLSBAD THE ESTATE OR INTEREST IN THE LAND HEREINAFTER DESCRIBED OR REFERRED COVERED BY THIS GUARANTEE IS: A FEE TITLE TO SAID ESTATE OR INTEREST AT THE DATE HEREOF IS VESTED IN: GENA LAW WILDER AND GARY H. LAW) AS TENANTS IN COMMON THE LAND REFERRED TO IN THIS GUARANTEE IS SITUATED IN THE STATE OF C NIA, COUNTY OF SAN DIEGO AND IS DESCRIBED AS FOLLOWS: PARCEL 1 OF PARCEL MAP NO. 15282 IN THE CITY OF CARLSBAD, COUNTY OF DIEGO, STATE OF CALIFORNIA, FILED IN THE OFFICE OF THE'COUNTY RECORI SAN DIEGO COUNTY, JUNE 30, 1988 AS FILE/PAGE NO- 88-317307 OF OFFIC: RECORDS 0 e ORDER NO: 133731-05 THE TITLE TO SAID ESTATE OR INTEREST IS SUBJECT TO THE FOLLOWING EXCEPTIONS: 1. THE LIEN OF SUPPLEMENTAL TAXES, IF ANY, ASSESSED PURSUANT TO 1 VISIONS OF CHAPTER 3.5 (COMMENCING WITH SECTION 75) OF THE RE\ AND TAXATION CODE, OF THE STATE OF CALIFORNIA. 2. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: THE COUNTY OF SAN DIEGO PURPOSE: PUBLIC ROAD RECORDED : SEPTEMBER 23, 1939 IN BOOK 943, PAGE 370 G OFFICIAL RECORDS AFFECTS : ROAD SURVEY 815 SAID INSTRUMENT ALSO GRANTS THE RIGHT TO EXTEND AND MAINTAIN 1 STRUCTURES AND EXCAVATION AND EMBANKMENT SLOPES BEYOND THE LIP SAID RIGHT OF WAY WHERE REQUIRED FOR CONSTRUCTION AND MAINTENl 3. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL AS SET FORTH IN A DOCUMENT PURPOSE : FOR TELEPHONE AND/OR ELECTRIC POLES AND LI AND FOR SEWER, WATER, AND/OR GAS MAINS ANI TOGETHER WITH THE RIGHT TO ENTER ON SAID I LINES IN, UNDER, OVER AND ACROSS SAID PRO1 FOR PURPOSES OF CONSTRUCTION, RECONSTRUCT: REPAIRING, AND/OR ALTERING ANY OF THE SAMI VIDED HOWEVER, SUCH POLES, LINES OR PIPES BE SO LOCATED AS TO INTERFERE WITH THE PRC AS LITTLE AS POSSIBLE RECORDED : JUNE 13, 1942 IN BOOK 1356, PAGE 302 OF OF RECORDS THE EXACT LOCATION AND EXTENT OF SAID EASEMENT IS NOT DISCLOSE RECORD. 4. AN AGREEMENT TO WHICH REFERENCE IS HEREBY MADE FOR FULL PARTI( DATED : JUNE 17, 1986 BY AND BETWEEN: SECURITY PACIFIC NATIONAL BANK, BANK OF Ab NATIONAL TRUST AND SAVINGS ASSOCIATION, A NATIONAL BANKING ASSOCIATION AS TRUSTEE 01 NO. 44-5-01188-0 FOR LYN Me LAW, ALSO KNOl OPAL V. LAW, A CORPORATION AND THE CITY Of BAD, A MUNICIPAL CORPORATION OF THE STATE CALIFORNIA CARLSBAD FOR THE PAYMENT OF A PUBLIC FACIl FEE CIAL RECORDS REGARDING: AGREEMENT BETWEEN DEVELOPER-OWNER AND THE RECORDED : JULY 18, 1986 AS FILE~PAGE NO. 86-298177 c L e * ORDER NO: 133731-05 EXCEPT1 ONS CONTINUED: 5. A DEED OF TRUST TO SECURE AN INDEBTEDNESS IN THE AMOUNT SHOWN E AND ANY OTHER OBLIGATIONS SECURED THEREBY: AMOUNT: $51,136.96 DATED : SEPTEMBER 12, 1988 TRUSTOR : GENA LAW WILDER, A MARRIED WOMAN) AS HER S( SEPARATE PROPERTY AND GARY HI LAW, A MARRIE AS HIS SOLE AND SEPARATE PROPERTY TRUSTEE : TICOR TITLE INSURANCE COMPANY OF CALIFORNIA CALIFORNIA CORPORATION BENEFICIARY: LEVONE A. YARDUM, AS TRUSTEE FOR THE BENEFI THE LEVONE A* YARDUM LAW CORPORATION DEFINE BENEFIT PENSION PLAN OFFICIAL RECORDS 6. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL RECORDED : SEPTEMBER 22, 1988 AS FILEIPAGE NO. 88-480: THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: PAUL J. SCHMITT AND JANETTE L- SCHMITT, HUS BAND AND WIFE, AS JOINT TENANTS AS TO AN UNDXVIDED 50% INTEREST AND MARIA J. SCHMITI HUNNICUTT, A MARRIED WOMAN, AS HER SOLE ANI: SEPARATE PROPERTY, AS TO AN UNDIVIDED 50% INTEREST, ALL AS TENANTS IN COMMON PURPOSE : PRIVATE SEWER LINE RECORDED: DECEMBER 1, 1988 AS FILE/PAGE NO. 88-61369! AFFECTS : OVER, UNDER, ALONG AND ACROSS THAT PORTION OF OFFICIAL RECORDS OF PARCEL 1 OF SAID PARCEL MAP NO. 15282, LYING WITHIN THE AREA DELINEATED AND SEWER EASEMENT RESERVED FOR PARCEL 2." DESIGNATED THEREON AS "PROPOSED 10' PRIVATE NOTE NO. 1: PROPERTY TAXES FOR THE FISCAL YEAR SHOWN BELOW FOR PRORATION PU AND THE AMOUNTS ARE' FISCAL YEAR 1988 - is89 1ST INSTALLMENT: $371.48 PAID PENALTY: $NONE 2ND INSTALLMENT : $371.48 PAID PENALTY: $NONE EXEMPTION: $NONE LAND: $64,574.00 IMPROVEMENTS: $4,583.00 PERSONAL PROPERTY: $NONE CODE AREA: 09000 ASSESSOR'S NO: 15 6-190-13 AFFECTS: THE HEREIN DESCRIBED LAND AND OTHER LAND. e a ORDER N0.:133751-05 SAID NECESSARY PARTIES (OTHER THAN THOSE HAVING A CLAIM OR 3, 4, AND 6 TO BE MADE DEFENDENTS IN AN ACTION TO CONDEMN AN INTEREST BY REASON OF MATTERS SHOWN IN EXCEPTIONS NUMBERED 1, 2 INTEREST IN SAID LAND TO BE BROUGHT BY: THE CITY OF CARLSBAD AS PLAINTIFF, ARE AS FOLLOWS: 1. GENA LAW WILDER, AS OWNER 4161 NAGLE AVENUE SHERMAN OAKS, CA 91423 324 31s~ STREET, MANHATTAN BEACH, CA 90266 2. GARY ti. LAW, AS OWNER 3. LEVONE A. YARDUM, AS TRUSTEE FOR THE BENEFIT OF THE 15915 VENTURA BLVD, STE P-1 LEVONE A. YARDUM LAW CORPORATION DEFINED BENEFIT PENSION PLAN, AS BENEFICIARY ENCINO, CA 91436 .91’911 a $c .x .s I . .* .-- . . - . ..- -.-. .. .*. . ..e- . -** * .__ ~ .,--. - .~- _L ,_.. ~ *. _.,,.-.--,.,.e-,. I-..*.-.- . ...- - ** ..e*- *-.- ,---.. - .m e GUARANTEE CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS Guarantee or, if this Guarantee is issued for the benefii mortgage. the Company shall have the option to purchasi secured by said mortgage. Such purchase, payment or ten the full amount of the Guarantee shall terminate al Company hereunder. In the event after notice of claim ha! Company by the Assured the Company offers to purchs ness. the owner of such indebtedness shall transfer indebtedness and the mortgage securing the same to thc The following terms when used in this Guarantee mean: (a) "land": the land described specifically or by reference. in this Guarantee and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) 'date": the effective date: payment of the purchase price. (d) (e) "the Assured": the party or parties named as the Assured in this Guarantee. or in a supplemental writing executed by the Company: "mortgage": mortgage. deed of trust, trust deed. or other security instrument. 6. LIMITATION OF LIABILITY - PAYMENT OF Los (a) The liability of the Company under this Guarantee! the amount of actual loss sustained bythe Assured b upon the assurances herein set forth, but in no event! exceed the amount of the liability stated on the fa The Company will pay all costs imposed upon litigation carried on by the Company for the Assr: and attorney's fees in litigation carried on by the written authorization of the Company. No claim for damages shall arise or be maintai Guarantee (1) if the Company after having recei alleged defect. lien or encumbrance not shown as excluded herein removes such defect. lien or encu reasonable time after receipt of such notice. 01 voluntarily assumed by the Assured in settling i without written consent of the Company. All payments under this Guarantee. except for provided for in paragraph qb) hereof. shall reduce liability hereunder pro tanto. and no payment shal producing this Guarantee for indorsement ofsuch F Guarantee be lost or destroyed. in which case pro destruction shall be furnished to the satisfaction c When liability has been definitely fixed in accc conditions of this Guarantee. the loss or damage 2. EXCLUSIONS FROM COVERAGE OF THIS GUARANTEE The Company assumes no liability for loss or damage by reason of the following: (a) 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. Unpatented mining claims: reservations or exceptions in patents or in Acts authorizing the issuance thereof: water rights. claims or title to water. Title to any property beyond the lines of the land expressly described in the description set forth in this Guarantee. or title to streets, roads, avenues. lanes. ways or waterways on which such land abuts, or the right to maintain therein vaults. tunnels. ramps or any other structure or improvement; or any rights or easements therein unless such property. rights or easements are expressly and specifically set forth in said description. Defects. liens. encumbranca. adverse claims against the title as guaranteed or other matters (1) created, suffered. assumed or agreed to by one or more of the Assured; or (2) resulting in no loss to the Assured. within thirty days thereafter. (b) (c) (b) (c) (d) (d) (e) 3. PROSECUTION OF ACTIONS 7. SUBROGATION UPON PAYMENT (a) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be necessary or desirable to establish or confirm the matters herein guaranteed: and the Company may take any appro- priate action under the terms of this Guarantee whether or not it shall be liable thereunder and shall not thereby concede liability or waive any provision hereof. In all cases where the Company does so institute and prosecute any action or proceeding. the Assured shall permit the Company to use. at its option. the name of the Assured for such purpose. Whenever requested by the Company. the Assured shall give the Company all reasonable aid in prosecuting such action or proceeding and the Company shall reimburse the Assured for any expense so incurred. Whenever the Company shall have settled aclaim under right of subrogation shall vest in the Company unaffecte Assured. and it shall be subrogated to and be entitled remedies which the Assured would have had against any I in respect to such claim had this Guarantee not been issu does not cover the IOSS of the Assured. the Company sha such rights and remedies in the proportion which said pa amount of said loss. The Assured if requested by thl transfer to the Company all rights and remedies agaii property necessary in order to perfect such right or sub1 permit the Company to use the name of the Assured in litigation involving such rights or remedies. (b) 8. GUARANTEE EKTIRE CONTRACT 4. NOTICE OF LOSS - LIMITATION OF ACTION A statement in writing of any loss or damage for which it is claimed the Company is liable under this Guarantee shall be furnished to the Company within sixty days after such loss or damageshall have been determined, and no right of action shall accrue to the Assured under this Guarantee until thirty days after such statement shall have been furnished. and no recovery shall be had by the Assured under this Guarantee unless action shall be commenced thereon within two years after expiration of said thirty day period. Failure to furnish such statement ofloss or damage or to commence such action within the time hereinbefore specified. shall be aconclusive bar against maintenance by the Assured of any action under this Guarantee. OPTION TO PAY, SETTLE OR COMPROMISE CLAIMS The Company shall have the option to pay or settle or compromise for or in the name of the Assured any claim which could result in loss to the Assured within the coverage of this Guarantee. or to Pay the full amount of this Any action or actions or rights of action that the Assure1 bring against the Company arising out of the subject ma based on the provisions of this Guarantee. No provision or conditon of this Guarantee can be u except by a writing endorsed or attached hereto signed Vice President. the Secretary. an Assistant Secretary E officer of the Company. 9. NOTICES. WHERE SENT All notices required to be given the Company and any st< required to be furnished the Company shall be addre Office. P.O. Box 27567. Richmond. Virginia 23261, or t Office. 60 Universal City Plaza. Universal City. Califorr office which issued this guarantee. The fee specified on the face of this Guarantee is the tota and examination and for this Guarantee. 5. 10.