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HomeMy WebLinkAbout1998-08-25; City Council; 14822; Acquisition Of Property. . . AB# IY.g22 MTG. i’- as- W DEPT. ,- xl - . CITY OF CARLSBAD --AGENDA mLL --sm/- M : TITLE ACQUISITION OF PROPERTY, ASSESSOR PARCEL NUMBERS (APN) DEPT.HD. m /+‘I&) CITY AT-n, ‘,7, p& 212-050-1 RECOMMENDED ACTION : If Council concurs, adopt Resolution No. 98-&?5 approving the land acquisition, ratifying the Mayor’s signature as the City’s authorized representative on the escrow instructions, accepting the Planning Commission’s finding of General Plan consistency for the purchase of the subject property, authorizing the release of funds to purchase the property and directing staff to take all necessary steps to conclude the acquisition process. ITEM EXPLANATION : In prior closed session, City Council gave direction regarding potential purchase of specific parcels and directed staff to return with the appropriate documents to accomplish acquisition. At its August 5, 1998 meeting, the Planning Commission determined that the acquisition of the property located between Newton Drive and Faraday Avenue for a park/recreational facility use is consistent with the General Plan. The Planning Director has determined the acquisition exempt under the California Environmental Quality Act (CEQA), and the exemption has been filed with the County Clerk. The categorical exemption was based upon the land being purchased for park purposes where a management plan has not been prepared for the site. However, staff will return for appropriate environmental review when a park development plan is proposed which will then change the site. In effort to further secure the site for city acquisition, the property is currently in escrow awaiting Council’s authorization to release the funds for purchase which would consummate the close of escrow and transfer of title. FISCAL IMPACT: Council has previously appropriated $3,960,000 for a business park recreation facility as part of the 1998-99 Capital Improvement Program budget. Staff is recommending that Council authorize the release of $2,750,000 as the purchase price for 10 acres of property, specifically APN’s 212- 050-13; 36; 37; 38; and 39. In total, it is anticipated that the following funds will be required in order to close escrow. Sales Price Settlement or Closing fee Title Insurance Extended Insurance Coverage Recording fees Contingency Cushion (refundable if not used) $2,750,000.00 4,962.50 3,561 .OO 1,095.70 30.00 223.26 TOTAL $2.759.872.46 Funding for the property acquisition is available, and with Council approval will be withdrawn from account # 3347000/9060/35781/900 Business Park Recreational Facility. EXHIBITS: 1. Resolution No. 98 -28 5 2. Parcel Map -. RESOLUTION NO. 98-285 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, APPROVING PROPERTY ACQUISITION, RATIFYING THE MAYOR’S SIGNATURE AS THE CITY’S AUTHORIZED REPRESENTATIVE ON THE ESCROW INSTRUCTIONS, ACCEPTING THE PLANNING COMMISSION’S FINDING OF GENERAL PLAN CONSISTENCY FOR THE PURCHASE OF THE SUBJECT PROPERTY, AUTHORIZING THE RELEASE OF FUNDS FOR THE PURCHASE OF 10 ACRES OF PROPERTY SPECIFICALLY IDENTIFIED AS ASSESSOR PARCEL NUMBERS (APN) 212-050-13; 36; 37; 38; 39 AND DIRECTING STAFF TO TAKE ALL NECESSARY STEPS TO CONCLUDE THE ACQUISITION PROCESS. a WHEREAS, the City Council of the City of Carlsbad, California, has previously g adopted a park mitigation fee for industrial development in order to provide a recreation 10 area for the industrial based population; and 11 12 WHEREAS, sufficient funds exist in the Business Park Recreational Facility Fund account #3347000/9060/35781/900 to pay a negotiated price for 10 acres of property 13 14 immediately adjacent to Zone 5 of the cities Local Facilities Management Plan; and 15 WHEREAS, the City Council has determined that the subject property could 16 provide for the recreational needs of the industrial based population; and 17 WHEREAS, the City Council has directed staff to take the steps necessary to 18 conclude the acquisition process in order to secure the City’s ownership of the subject 19 II property. 20 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of 21 22 Carlsbad, California, the following: 23 1. Acquisition of the property is approved and the Mayor’s signature as the 24 City’s authorized representative on the escrow instructions to purchase 25 the subject property is ratified. 26 2. The Planning Commission’s finding of General Plan consistency 27 for the purchase of the subject property is accepted and adopted by 28 C Council as its own. 5 3. The release of $2,750,000 for property acquisition and any associated costs outlined in the buyers settlement statement as previously agreed upon in the escrow instructions as a condition for the close of escrow is hereby authorized from the Business Park Recreational Facility Fund 4. account #3347000/9060/35781/900. Staff is authorized and directed to take all necessary steps to conclude the acquisition process of the subject property. 9 10 PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council 11 of the City of Carlsbad, California, held on the 25th day of &ust , 1998, by the 12 following vote to wit: 13 AYES: 14 Council Members Lewis, Finnila, Nygaard, Kulchin, Hall 15 NOES: None 16 ABSENT: None 17 ia 1g ATTEST: II 20 21 23 I/ 24 Ii 25 26 27 28 ?W “\ 70 5 cp+;-v, PT.23 ?h I h ZIP/r I .!- ‘_ . .’ , . . . .(* ‘. :( . . . I . SHT 2 PARS 76 k 77 tz. 36 : p @rN . / ‘&A ;7c Q 11 : WC uw 846-37-l I\ I f: SPici 0: ’ ,-? - 1 4. :: 5. I * \ (4J .7 41 / \ UA? ao- YAP UC&J7-1 OKN OPEN SPACE. PAR 35 SDC HAP 84J-37-1 L )/\( GP txs. W-m&&b F&A* J t+J-’ 212~05043 &s] e 12 f+ 2\1- o5o-36tiuu-3q G; c EXHIBIT .l 4 FluG 28’98 9:44 FR CHICRGO TITLE 619 431 5456 TO 4347185 -* _I ‘_ RECORDING REQuESTEL CY C&CM0 TITLR CO& J#Y Am WHEN RECORDED MAIL TO r arc OF cwzLs8AD 1 1200 CARLS8AD VI- DRIVE CARLSBRD, CA 92008-1989 AfTRNTION: KEITRBRVERLY P.82/03 Escrm w. 8OS60~0 - Fs7 ~~~uNt~sQ)IIoER3us GRANT DEED ne~rnm~&~~~~~S)lrs,~s) -ixAmmRlcAxEf $3,025.00 cl-- m cwof cARLs8AD aarputodaatheWftffddt4t~orgropmy~azk aKxqmedePt4cfuurrEtrkss~vsIasof~~-r4sccs~ulimed*llqmb FORAVALUAk?U?C~EE1ATION,& ofwhichibbertbp cRARL8sIYALLoNAMARRxBDMANAsHXSso Lf AND SEPARATE As To AN imk.DED 3SI INTERRSTANDDUDLEY INVESTNRNT COR3?ORATIONACALEPQfLWfACORPORATXONAS TOANURXVIDRD 6S? INTERRST hereby GRANT(S) to CITY OF CARLSBAD , A MUNICIPAL com~TxQN ttLcfs3lbbgdc~~rra\pzopertyinthe city of CABLSBAO county of SAN DEEGO ,stateofc2i&f& SEE LeGAzl DE!XRIPTION ATTACSED HEICFPO ANDMADEAPARTmREioF Dated August 6, 1998 CALXFORNIA CORPORATION I -- JAMtE I.. &hi t comm. IrlGZlii3 5 : mm?tJmc.cI’.*tr,: .‘,. 8ANa!BrL~cE:3c’~~:.- 1 cemir.trg.EI~H.53 : l ---.> - -1 CERTIFICATION FOR ACCEPTANCE OF DEED This is to certify that the interest in real property conveyed by the deed or grant dated August 6, 1998, fkom Charles Mallon and Dudley Investment Corporation, a California Corporation, 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. 98-285, adopted on August 25, 1998, and the grantee consents to the recordation thereof by its duly authorized officer. DATED: August 25,1998 ALETHA L. RAUTE~Z, City Clerk AMERICAh’ LAND TITLE ASSOCIATION OWNER’S POLICY (IO-I 7-92) CHICAGO TITLE INSURANCE COMPANY SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount 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. The Company will also pay the costs, attorneys’ fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. In witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory. Issued by: CHICAGG TITLE COMPANY 925 “B” Street San Diego, CA 92101 (619) 239 - 6081 CHICAGO TITLE INSURANCE COMPANY By: ALTA Owner’s Policy (10-17-92) EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys’ fees or expenses which arise by reason of: 1. (a) (4 Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by mason of the operation of federal bankruptcy, state insolvency, or similar creditors rights laws, that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or (ii) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the tailure: (a) to timely record the instrument of transfer; or (b) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor. r; 77 .-. CONDITIONS AND STIPULATIONS *---’ 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) “insured”: the insured named in Schedule A, and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including, but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. (b) “insured claimant”: an insured claiming loss or damage. (c) “knowledge” or “known”: actual knowledge, not constructive knowl- edge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart construc- tive notice of matters affecting the land. (d) “land”: the land described or referred to in Schedule A, and improve- ments affixed thereto which by law constitute real property. The term “land” does not include any property beyond the lines of the area described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but noth- ing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) “mortgage”: mortgage, deed of trust, trust deed, or other security instrument. (9 “public records”: records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. With respect to Section 1 (a)(iv) of the Exclusions From Coverage, “public records” shall also include environmental protection liens filed in the records of the clerk of the United States district court for the district in which the land is located. (g) “unmarketability of the title”: an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall have liability by reason of covenants of 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 the insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT The insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or dam- age for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; 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 failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE (a) Upon written request by the insured and subject to the options con- tained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the insured to object for reasonable 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 incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph. it shall do so diligently. . (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of competent juris- diction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgment or order. (d) In all cases where this policy permits or requires the Company to prose- cute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company’s expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or pro- ceeding, or effecting settlement, and (ii) in any other lawful act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced by the failure of the insured to furnish the required cooperation, the Company’s obligations to the insured under the policy shall terminate, including any liability or obliga- tion to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE In addition to and after the notices required under Section 3 of these Condi- tions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Company’s obligations to the insured under the policy shall terminate, including any liability or obliga- tion to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reason- able times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any autho- rized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspon- dence and memoranda in the custody or control of a third party, which reason- ably pertain to the loss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath, produce other reason- ably requested information or grant permission to secure reasonably neces- sary information from third parties as required in this paragraph shall termi- nate any liability of the Company under this policy as to 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 additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under this policy together with any costs, attorneys’ fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay. Upon the exercise by the Company of this option, all liability and obligations to the insured underthis policy, other than to make the payment required, shall terminate, including any liability or obligation to defend, prosecute, or con- tinue any litigation, and the policy shall be surrendered to the Company for cancellation. (b) To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with otheP parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys’ fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys’ fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii), the Company’s obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prose- cute or continue any titigation. 7. DETERMINATION, EXTENT OF LIABILITY AND COlNSURANCE This policy is a contract of indemnity against actual monetary loss or dam- age sustained or incurred by the insured claimant who has suffered bss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of: (i) the Amount of insurance stated in Schedule A; or, (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the insured estate or interest or the full consideration paid for the land, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 percent over the Amount of Insurance stated in Schedule A, then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or (ii) where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement. The provisions of this paragraph shall not apply to costs, attorneys’ fees and expenses for which the Company is liable under this policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys’ fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8. APPORTIONMENT If the land described in Schedule A consists of two or more parcels which are not used as a single site, and a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settled on a pro rata basis as if the amount of insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Date of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, all as insured, in a reasonably diligent manner by any method, including litigation and the completion 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. (b) In the event of any litigation, including litigation by the Company or with the Company’s consent, the Company shall have no liability for loss or dam- age until there has been a final determination by a court of competent jurisdic- tion, and disposition of all appeals therefrom, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY All payments under this policy, except payments made for costs, attorneys’ fees and expenses, shall reduce the amount of the insurance pro tanto. 11. LIABILITY NONCUMULATIVE It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter ex- ecuted by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. 12. PAYMENT OF LOSS (a) No payment shall be made without producing this policy for endorse- ment 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. . Reorder Form No. 6256 (Rev. 1 O-l 7-92) -, (b) When fiability and-the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shatl be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT (a) The Company’s Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shalt be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the ctaim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated to these rights and reme- dies in the proportion which the Company’s payment bears to the whole amount of the loss. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the impair- ment by the insured claimant of the Company’s right of subrogation. (b) The Company’s Rights Against Non-insured Obligon. The Company’s right of subrogation against non-insured obligers shall exist and shall include, without limitation, the rights of the insured to indem- nities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subroga- tion rights by reason of this policy. 14. ARBITRATION Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connec- tion with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $l,OOO,OOO or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $l,OOO,OOO shall be arbitrated only when agreed to by both the Company and the insured. Arbitra- tion pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys’ fees only if the laws of the state in which the land is located permit a court to award attorneys’ fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Com- pany. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by awriting endorsed hereon or attached hereto signed by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 18. SEVERABILITY In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 17. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company at the issuing office or to: Chicago Title Insurance Company *- Claims Department 171 North Cj8$ Street Chicago, II’ s 60601-3294 ,- YourReE ESCROW #8886010 SCHEDIJLE A Policy No. 7338398 Premium: $4,656.00 Amount of Insurance: $2,75o,ooo.00 DateofPolicyz August 26, 1998 at 4:55 PM U52 1. Name of Insured: CITY OF CARLSBAD, A MUNICIPAL CORPORATION 2. The estate or interest in the land which is covered by this policy is: A FEE AS TO PARCELS A AND C; AN EASEMENT MORE FULLY DESCRIBED BELOW AS TO PARCELS B AND D 3. Title to the estate or interest in the land is vested in: CITY OF CARLSBAD, A MUNICIPAL CORPORATION 4. The land referred to in this policy is situated in the State of California, County of SAN DIEGO and is described as follows: SEE ATTACHED DESCRIPTION .TAOPA-OP/l 1/92-k This Policy valid only if Schedule B is attached. Page 1 DESCRIPTION Policy No. 7338398 U52 PARCEL A: ALL THAT PORTION OF LOT "F" OF RANCH0 AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 823, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER 16, 1896, DESCRIBED AS FOLLOWS: COMMENCING AT POINT 23 OF SAID LOT "F" AS SHOWN ON MAP NO. 823; THENCE SOUTH 54O 10' 08" EAST ALONG THE NORTHERLY LINE OF SAID LOT "F" A DISTANCE OF 807.00 FEET TO THE MOST EASTERLY CORNER OF THE LANDS CONVEYED BY CHARLES KELLY TO ELMER CARPENTER BY DEED RECORDED JUNE 1, 1937 IN BOOK 622, PAGE 755 OF DEEDS, RECORDS OF SAID COUNTY; THENCE CONTINUING SOUTH 54" 10' 08" EAST ALONG THE NORTHERLY LINE OF SAID LOT "F" A DISTANCE OF 540.00 FEET; THENCE SOUTH 35" 49' 52" WEST AT RIGHT ANGLES TO THE NORTHERLY LINE OF SAID LOT "F" A DISTANCE OF 2257.74 FEET TO THE BOUNDARY OF LAND DESCRIBED UNDER PARCEL 1 IN FINAL JUDGMENT IN PARTITION RECORDED MARCH 24, 1965, AS INSTRUMENT NO. 52516 OF OFFICIAL RECORDS OF SAID COUNTY; THENCE NORTH 52O 32' 21" WEST ALONG SAID BOUNDARY LINE A DISTANCE OF 478.72 FEET TO THE TRUE POINT OF BEGINNING; THENCE LEAVING SAID BOUNDARY AT RIGHT ANGLES NORTH 37'= 27' 39" EAST A DISTANCE OF 740.00 FEET; THENCE AT RIGHT ANGLES NORTH 52“ 32' 21" WEST A DISTANCE OF 294.32 FEET; THENCE AT RIGHT ANGLES SOUTH 37O 27' 39" WEST A DISTANCE OF 740.00 FEET; THENCE SOUTH 52O 32' 21" EAST A DISTANCE OF 294.32 FEET TO THE TRUE POINT OF BEGINNING. PARCEL B: AN EASEMENT AND RIGHT OF WAY FOR INGRESS AND EGRESS FOR ROAD PURPOSES OVER, ALONG AND ACROSS A STRIP OF LAND 40.00 FEET IN WIDTH LYING WITHIN LOT "F" OF RANCH0 AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 523, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER 16, 1896, THE CENTER LINE OF SAID STRIP BEING DESCRIBED AS FOLLOWS: BEGINNING AT POINT 1 OF SAID LOT "F" AS SHOWN ON SAID MAP 823; THENCE SOUTH 25" 01' 05" EAST (RECORD SOUTH 24" 45' 00" EAST) A DISTANCE OF 229.00 FEET TO A POINT WHICH IS DESIGNATED ON SAID MAP AS POINT 23 OF LOT "F", THIS POINT BEING THE TRUE POINT OF BEGINNING, AND WHICH POINT IS THE MOST NORTHERLY CORNER OF LANDS CONVEYED BY CHARLES KELLY TO ELMER CARPENTER BY DEED RECORDED JUNE 1, 1937 IN BOOK 662, PAGE 75 OF DEEDS, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAID SAN DIEGO COUNTY, THE SAID CARPENTER LAND BEING NOW KNOWN AS ROBERT E. HICKS' PROPERTY; THENCE ALONG THE WESTERLY AND NORTHWESTERLY BOUNDARY OF SAID CARPENTER (HICKS) LAND As FOLLOWS: SOUTH 110 51' 12" WEST 315.60 FEET TO AN ANGLE POINT; AND SOUTH 42“ 55' 37" WEST, 374.50 FEET TO THE MOST WESTERLY CORNER OF SAID LAND; THENCE SOUTH 54O 10' 08" EAST, A DISTANCE OF 2.14 FEET ALONG THE SOUTHERN BOUNDARY OF THE HICK'S PROPERTY TO THE CENTER LINE OF THE WATER LINE EASEMENT PREVIOUSLY GRANTED TO THE CARLSBAD MUNICIPAL WATER DISTRICT AND KNOWN AS LINE "D" OF THE C.M.W.D.; THENCE SOUTH 42O 38' 52" WEST (ON AND ALONG THE NORTHEASTERLY BOUNDARY OF THE ALLEN PARCEL 1 DESCRIBED IN EXHIBIT "A" OF DOCUMENT NO. 236220, RECORDED DECEMBER 31, 1969 AND ON AND ALONG THE CENTER LINE OF SAID LINE "D" OF THE C.M.W.D.) A DISTANCE OF 938.72 FEET TO THE BEGINNING OF A TANGENT ARC, CONCAVE SOUTHEASTERLY, AND HAVING A RADIUS OF 600.00 FEET; THENCE SOUTHWESTERLY ALONG THE CURVE OF SAID ARC 269.80 FEET TO A POINT; THENCE SOUTH 16O 38' 52" WEST 386.15 FEET TO THE SOUTHWESTERLY CORNER OF THE DYE PROPERTY DESCRIBED IN DOCUMENT NO. 236219 RECORDED DECEMBER 31, 1969; THENCE SOUTH 52O 32' 21" EAST (ON AND ALONG THE SOUTHWESTERLY BOUNDARY OF THE SAID DYE PROPERTY AND CONTINUED ON THE SAME BEARING ALONG THE SOUTHWESTERLY BOUNDARY OF THE HIGDON DESCRIPTION Page 2 Policy No. 7338398 U52 PROPERTY AND THE SOUTHWESTERLY BOUNDARY OF THE ALLEN PORTION 2 DESCRIBED IN EXHIBIT "A" OF AFOREMENTIONED DOCUMENT NO. 236220, A TOTAL DISTANCE ON THIS BEARING OF 1214.69 FEET TO THE MOST SOUTHEASTERLY CORNER OF SAID ALLEN PORTION 2, WHICH IS THE MOST SOUTHERLY TERMINUS OF THIS EASEMENT. EXCEPTING THAT PORTION LYING NORTHEASTERLY OF THE SOUTHWESTERLY LINE OF ROAD SURVEY NO. 1800-l AS DESCRIBED IN DEED TO THE COUNTY OF SAN DIEGO. PARCEL C: PARCELS 1 THROUGH 4 INCLUSIVE, OF PARCEL MAP 8403, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 8, 1979. PARCEL D: AN EASEMENT AND RIGHT OF WAY FOR INGRESS AND EGRESS FOR ROAD PURPOSES OVER, ALONG AND ACROSS A STRIP OF LAND 40.00 FEET IN WIDTH LYING WITHIN LOT "F" OF RANCH0 AGUA HEDIONDA, IN THE CITY OF CARLSBAD, COUNTY OF SAN DIEGO, STATE OF CALIFORNIA, ACCORDING TO MAP THEREOF NO. 823, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, NOVEMBER 16, 1896, THE CENTER LINE OF SAID STRIP BEING DESCRIBED AS FOLLOWS: BEGINNING AT THE MOST SOUTHERLY CORNER OF PARCEL 3 OF SAID PARCEL MAP 8403, FILED IN THE OFFICE OF THE COUNTY RECORDER OF SAN DIEGO COUNTY, FEBRUARY 8, 1979; THENCE NORTH 53O 04' 32" WEST, 441.44 FEET; THENCE NORTH 16O 04' 43" EAST, 386.29 FEET TO THE BEGINNING OF A TANGENT 600.00 FOOT RADIUS CURVE, CONCAVE SOUTHEASTERLY; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 25=' 45' 50" A DISTANCE OF 269.80 FEET TO THE SOUTHWESTERLY PROLONGATION OF THE NORTHWESTERLY LINE OF LAND DESCRIBED IN DEED TO ELMER L. CARPENTER, RECORDED JUNE 1, 1937 IN BOOK 622, PAGE 75 OF OFFICIAL RECORDS; THENCE ALONG SAID PROLONGATION AND SAID NORTHWESTERLY LINE, TANGENT TO SAID CURVE NORTH 410 50’ 33” EAST (RECORD = NORTH 420 24' 42" EAST) 1313.25 FEET; THENCE NORTH ll" 51' 12" EAST, 301.18 FEET TO THE SOUTHERLY BOUNDARY OF COUNTY ROAD SURVEY NO. 1800-1, ACCORDING TO PLAT THEREOF ON FILE IN THE OFFICE OF THE COUNTY ENGINEER OF SAN DIEGO COUNTY. EXCEPTING THEREFROM THAT PORTION LYING WITHIN PARCELS 1, 2, 3 AND 4 OF SAID PARCEL MAP 8403. SCHEDU&E B r YourRef: ESCROW #8886010 Policy No. 7338398 U52 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: AH THE FOLLOWING ITEMS AFFECT PARCELS A AND B. AQ 1. PROPERTY TAXES, INCLUDING ANY ASSESSMENTS COLLECTED WITH TAXES, TO BE LEVIED FOR THE FISCAL YEAR 1998-99 THAT ARE A LIEN NOT YET DUE. B 2. THE LIEN OF SUPPLEMENTAL OR ESCAPED ASSESSMENTS OF PROPERTY TAXES, IF ANY, MADE PURSUANT TO THE PROVISIONS OF PART 0.5, CHAPTER 3.5 OR PART 2, CHAPTER 3, ARTICLES 3 AND 4 RESPECTIVELY (COMMENCING WITH SECTION 75) 0~ THE REVENUE AND TAXATION CODE OF THE STATE OF CALIFORNIA AS A RESULT OF THE TRANSFER OF TITLE TO THE VESTEE NAMED IN SCHEDULE A; OR AS A RESULT OF CHANGES IN OWNERSHIP OR NEW CONSTRUCTION OCCURRING PRIOR TO DATE OF POLICY. C 3. A NOTICE OF SPECIAL TAX LIEN PURSUANT TO SECTIONS 3114.5 OF THE STREETS AND HIGHWAY CODE AND SECTION 53328.3 OF THE GOVERNMENT CODE IMPOSING A CONTINUING LIEN. EXECUTED BY: AMOUNT : DATED: PURPOSE: RECORDED: THE CITY OF CARLSBAD NO AMOUNT IS SHOWN IN SAID NOTICE MAY 17, 1991 COMMUNITY FACILITIES DISTRICT NO. 1 MAY 20, 1991 AS FILE NO. 1991-0236959, OFFICIAL RECORDS D THE ABOVE SPECIAL TAXES ARE BEING COLLECTED WITH THE COUNTY/CITY PROPERTY TAXES. E 4. EASEMENTS FOR INGRESS AND EGRESS, PIPELINES, DRAINAGE AND/OR PUBLIC UTILITIES AND INCIDENTAL PURPOSES THERETO OVER, UNDER, ALONG AND ACROSS THE EASEMENT PARCEL(S) HEREIN DESCRIBED AS GRANTED AND/OR RESERVED IN VARIOUS DEEDS OF RECORD. AFFECTS: PARCEL B F 5. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT PURPOSE: INGRESS AND EGRESS FOR ROAD PURPOSES AS GRANTED/RESERVED BY VARIOUS INSTRUMENTS OF RECORD, ONE OF WHICH WAS RECORDED: AFFECTS: DECEMBER 31, 1969 AS FILE NO. 236220, OFFICIAL RECORDS SOUTHWESTERLY 20 FEET OF PARCEL A ALTAOPBl -02/i 1 /92-k Page 1 SCHEDULE B (Continued) POLICY NO. 7338398 U52 G A0 AI K L M N 6. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT PURPOSE: INGRESS AND EGRESS FOR ROAD PURPOSES AS GRANTED/RESERVED BY VARIOUS INSTRUMENTS OF RECORD, ONE OF WHICH WAS RECORDED: AFFECTS: SEPTEMBER 17, 1971 AS FILE NO. 211501, OFFICIAL RECORDS SOUTHWESTERLY 20 FEET OF PARCEL A 7. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: PURPOSE: RECORDED: AFFECTS: INDUSTRIAL DEVELOPMENTS INTERNATIONAL, INC., A DELAWARE CORPORATION TEMPORARY GRADING AND CONSTRUCTION ACCESS EASEMENT JUNE 10, 1998 AS FILE NO. 1998-0352322, OFFICIAL RECORDS THE ROUTE THEREOF AFFECTS A PORTION OF SAID LAND AND IS MORE FULLY DESCRIBED IN SAID DOCUMENT. THE FOLLOWING ITEMS AFFECT PARCELS C AND D. 8. THE LIEN OF SUPPLEMENTAL OR ESCAPED ASSESSMENTS OF PROPERTY TAXES, IF ANY, MADE PURSUANT TO THE PROVISIONS OF PART 0.5, CHAPTER 3.5 OR PART 2, CHAPTER 3, ARTICLES 3 AND 4 RESPECTIVELY (COMMENCING WITH SECTION 75) 0~ THE REVENUE AND TAXATION CODE OF THE STATE OF CALIFORNIA AS A RESULT OF THE TRANSFER OF TITLE TO THE VESTEE NAMED IN SCHEDULE A; OR AS A RESULT OF CHANGES IN OWNERSHIP OR NEW CONSTRUCTION OCCURRING PRIOR TO DATE OF POLICY. 9. A NOTICE OF SPECIAL TAX LIEN PURSUANT TO SECTIONS 3114.5 OF THE STREETS AND HIGHWAY CODE AND SECTION 53328.3 OF THE GOVERNMENT CODE IMPOSING A CONTINUING LIEN, EXECUTED BY: AMOUNT : DATED: PURPOSE: RECORDED: THE CITY OF CARLSBAD NO AMOUNT IS SHOWN IN SAID NOTICE MAY 17, 1991 COMMUNITY FACILITIES DISTRICT NO. 1 MAY 20, 1991 AS FILE NO. 1991-0236959, OFFICIAL RECORDS THE ABOVE SPECIAL TAXES ARE BEING COLLECTED WITH THE COUNTY/CITY PROPERTY TAXES. 10. EASEMENTS FOR INGRESS AND EGRESS, PIPELINES, DRAINAGE AND/OR PUBLIC UTILITIES AND INCIDENTAL PURPOSES THERETO OVER, UNDER, ALONG AND ACROSS THE Page 2 SCHEDULE B (Contibed) POLICY NO. 7338398 US2 EASEMENT PARCEL(S) HEREIN DESCRIBED AS GRANTED AND/OR RESERVED IN VARIOUS DEEDS OF RECORD. AFFECTS: PARCEL D 11. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: PURPOSE: RECORDED: AFFECTS: CARLSBAD MUNICIPAL WATER DISTRICT UNDERGROUND WATER PIPELINE OR PIPELINES NOVEMBER 27, 1968 AS FILE NO. 208029 AND RE-RECORDED NOVEMBER 29, 1968 AS FILE NO. 209776, BOTH OF OFFICIAL RECORDS THE WESTERLY 20 FEET OF PARCELS 1 AND 2 OF PARCEL C 12. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET 1 3. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT 1 4. A DECLARATION OF COVENANTS FOR STREET IMPROVEMENTS, EXECUTED BY GEORGE R. BOLTON AND MU1 LY BOLTON, RECORDED NOVEMBER 9, 1978 AS FILE NO. 78-486644, OFFICIAL RECORDS. FORTH IN A DOCUMENT PURPOSE: INGRESS AND EGRESS FOR ROAD PURPOSES AS GRANTED/RESERVED BY VARIOUS INSTRUMENTS OF RECORD, ONE OF WHICH WAS RECORDED: DECEMBER 31, 1969 AS FILE NO. 236220, OFFICIAL RECORDS AFFECTS: THE WESTERLY AND SOUTHWESTERLY 20 FEET OF PARCEL C PURPOSE: INGRESS AND EGRESS FOR ROAD PURPOSES AS GRANTED/RESERVED BY VARIOUS INSTRUMENTS OF RECORD, ONE OF WHICH WAS RECORDED: AFFECTS: SEPTEMBER 17, 1971 AS FILE NO. 211501, OFFICIAL RECORDS THE WESTERLY AND SOUTHWESTERLY 20 FEET OF PARCEL C AFFECTS: PARCEL C 15. AN IRREVOCABLE OFFER TO DEDICATE A PORTION OF SAID LAND FOR THE PURPOSES STATED HEREIN IN FAVOR OF: COUNTY OF SAN DIEGO :HEDBC-02/26/92-k I. h SCHEDULE B (Continued) Page 3 POLICY NO. 7338398 US2 FOR: RECORDED: AFFECTS: PUBLIC HIGHWAY JANUARY 3, 1979 AS FILE NO. 79-003321, OFFICIAL RECORDS PORTIONS OF PARCELS 1 THROUGH 4 OF PARCEL C, AS SHOWN ON PARCEL MAP 8403 16. A COVENANT OF IMPROVEMENT REQUIREMENTS, EXECUTED BY GEORGE R. BOLTON AND MU1 LY BOLTON, RECORDED JANUARY 3, 1979 AS FILE NO. 79-003334, OFFICIAL RECORDS REFERENCE IS MADE TO SAID DOCUMENT FOR FULL PARTICULARS. AFFECTS: PARCEL C 17. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SHOWN OR AS OFFERED FOR DEDICATION ON THE RECORDED MAP SHOWN BELOW. MAP OF: EASEMENT PURPOSE: AFFECTS: NO. 8403 PROPOSED 20 FOOT PRIVATE ROAD EASEMENT PARCELS 1 THROUGH 4 OF PARCEL C, AS SHOWN ON SAID MAP 18. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: PURPOSE: RECORDED: AFFECTS: CARLSBAD MUNICIPAL WATER DISTRICT PIPELINE OR PIPELINES FEBRUARY 9, 1979 AS FILE NO. 79-061811, OFFICIAL RECORDS THE SOUTHWESTERLY 30 FEET OF PARCELS 2, 3, AND 4 OF PARCEL C 19. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS SET FORTH IN A DOCUMENT GRANTED TO: PURPOSE: RECORDED: AFFECTS: SAN DIEGO GAS AND ELECTRIC COMPANY PUBLIC UTILITIES, INGRESS AND EGRESS MARCH 27, 1979 AS FILE NO. 79-124291, OFFICIAL RECORDS THOSE PORTIONS OF PARCELS 1 THROUGH 4 SHOWN AS ROAD EASEMENTS 0~ PARCEL MAP ~0. 8403 (AFFECTS PARCEL c) 20. AN EASEMENT FOR THE PURPOSE SHOWN BELOW AND RIGHTS INCIDENTAL THERETO AS RESERVED IN A DOCUMENT (NO REPRESENTATION IS MADE AS TO THE PRESENT OWNERSHIP OF SAID EASEMENT) PURPOSE: ROAD AND PUBLIC UTILITY PURPOSES RECORDED: NOVEMBER 21, 1979 AS FILE NO. 79-491039, OFFICIAL HEDBCN2/26/924rc Page 4 SCHEDULE B (Conthued) POLICY NO. 7338398 US2 Y AR AFFECTS: PARCEL C END OF SCHEDULE B AS JTF AFFECTS: RECORDS THAT PORTION DELINEATED ON PARCEL MAP 8403 AS "PROPOSED 20' PRIVATE ROAD EASEMENT" CHICAGO TII’LE COMPANY 5050 AVENIDA ENCINAS, SUITE 100, CARLSBAD, CA 92008 (760)431-3777 Fax (760)431-5456 September 18,1998 KEITH BEVERLY CITY OF CARLSBAD, A MUNICIPAL CORP. 1200 CARLSBAD VILLAGE DRIVE CARLSBAD, CA 92008-l 989 Property: VACANT LAND, CARLSBAD, CA Escrow No: 008886010 N57 In accordance with instructions in the above escrow number, we enclose herewith our Policy of Title Insurance. Any documents recorded in connection with this transaction will be forwarded to you direct from the County Recorder’s office. Should you have any questions, please contact the undersigned. We know you had a choice and appreciate your choosing Chicago Title Company. We look forward to assisting you with your future real estate transactions. Thank you for choosing Chicago Title Company. Sincerely, CHICAGO TITLE COMPANY Jamie Kobold Escrow Officer JK/cf 1CLTR -08/23/96bk / ,j I / ‘m - . I 4;” d ..4 1 .r’” ” Jb 1 ‘*a$ 4 ;-ro l-m ;‘, +.+cP w II / l 0 b- t : . . ,. Thb page 1% to be wed I, M nld for locmtin~ land with reftnn~~ to dreetl and other y~~vrh II ir ad M rarwy. WbC tbk pbd ir bdwd IO br L~(TE~~, (Ire cmm,m”y P,Y,,nlCA ml “sblln, mr any hl nrcorrlng by WOl”“l or rdlsnlx ,llsrmn.