Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
RP 92-05; JP Mortgage; Redevelopment Permits (RP)
4 OTY OF CARLSBAD LAND USE REVIEW APPUCATION FOR PAGE 1 OF 2 1) ^APPLICATIONS APPLIED FOR: (CHECK BOXES) (FOR DEPT USE ONLY) • Master Plan Q Specific Plan r] Precise Development Plan 13 Tentanve Tract .^!ap n Planned Deveiopment Permit • Non-Residential Planned Deveiopment • Condominium Penmt Q Special Use Permit Redeveiopmem Permit • Tentative Parcel .Map • .Administrative Variance • General Plan Amendment Q Local Coastal Plan .Amendment • Site Development Plan Zone Change • Conditional Use Permit • Hillside Development Permit • Envirorunental Impact Assessment Q Variance Q Planned Industrial Permit • Coastal Development Permit • Planning Commission Determination Q List any other applications not specificed -OR Zl?- 2) LOCATION OF PROJECT: ON THE SIDE OF BETWEEN (NORTH. SOLTH EAST. WEST) (NAME OF STREET) AND (NAME OF STREET) 3) BRIEF LEGAL DESCRIPTION: (NAME OF STREET) 4) ASSESSOR PARCEL NO(S). 5) LOCAL FACILITIES MANAGEMENT ZONE 8) EXISTING ZONING 11) PROPOSED NUMBEROF RESIDENTIAL UNITS 2 O 3 M i 6) EXISTING GENERAL PLAN DESIGNATION jo 7) PROPOSED GENERAL PLAN I fjf/L DESIGNATION I 9) PROPOSED ZONING 12) PROPOSED NUMBER OF LOTS 10) GROSS SITE ACREAGE 13) TiTE OF SUBDIVISION (RESIDENTLU COMMERCLAL INDUSTRLAL) 14) NUMBER OF EXISTING RESIDENTIAL UNITS IS) PROPOSED INDUSTRIAL OFFICE/SQUARE FOOTAGE 16) PROPOSED COMMERCIAL SQUARE FOOTAGE NOTE: AnUPQSBDPIUXJecrRBQIXIUNGTHATMJLTIPUi^^ REQUOUNGTHATQICyQICitfPUCAllONBeflUDIAJSrBESIJ^^ FRM00016 8/90 0 4 CITY OF CARLSB/>^ LAND USE REVIEW APPUCATION FORM P.AG: 17) PERCENTAGE OF PROPOSED PROJECT IN OPEN SPACE 18) PROPOSED SEWER USAGE IN EQUIVALENT DWELUNG UNITS 19) PROPOSED INCRLASE IN AVER.AGE DAILY TRAFFIC ZV 20) P.ROJECT N.AME: 21) BRIEF DESCRiPTION OF PROJECT: 22) IN THE PROCESS OF REVIEWING THIS APPUCATION IT MAY BE NECESSARY FOR MEMBERS OF CITY STAFF, PLANNING COMMISSIONERS. DESIGN REVIEW 30ARD MEMBERS. OR CITY COUNCIL MEMBERS TO INSPECT .AND ENTER THE PROPEftWJH^T IS THE SUBJECT OF THIS APPLICATION. t/WE CONSENT TO ENTRY FOR THIS PURPOSE ^^^^^Y^e^'*>i.^TO SIGNATURE 23) OWNER 24) APPUCANT NAME (PRINT OR TYPE) ^Tc>W>^ 1 c i+o NAME (PRINT OR TYPE) MAIUNG ADDRESS MAIUNG ADDRESS CITY AND STATE ZIP TELEPHONE CITY AND STATE ZIP TELEPHONE 1 CERnFY THAT I AM THE LECAL OWNER /^ND THAT ALL THE ABOVE INFORMATICN IS TRUE AND CORJRECT TO THE BEST OF MY KNOWLEDGE. sic.^^ I CERTIFY THAT 1 AM THE LEGAL OWNER'S REPRESENTATIVE ,^ND THAT ALL THE ABOVE INFORMATION IS TRUE AND CORRECT TO THE BEST OF MY KNOWUEDCE. SIGNATURE^ DATE FOR CITY \h FEE COMPUTATION: APPUCATION Tin>E FEE REQUIRED TOTAL FEE REQUIRED DATE FEE PAID RECEIVED BY: RECEIPT NO. Citv of Carlsbad Planning Departrhcnt DISCLOSURE STATEMENT APPLICANT'S STATEMENT OF DISCLOSURE OF CERTAIN OWNERSHIP INTERESTS ON ALL APPUCATIONS WHICH WILL REQUIRE DISCRETIONARY ACTION ON THE PART OF THE CITY COUNCIL OR ANY APPOINTED BOARD. COMMISSION OR COMMITTEE. (Pleas« Print) The following information must be disclosed: 1. Applicant List the names and addresses of all persons having a financial interest in the application. /70C /o n^. 2. Owner List the names and addresses of all persons having any ownership interest in the property involved. 3. If any person identified pursuant to (1) or (2) above is a corporation or partnership, list the names and addresses of all individuals owning more than 10% of the shares in the corporation or owning any partnership interest in the partnership. If any person identified pursuant to (1) or (2) above is a non-profit organization or a trust, list the names and addresses of any person serving as officer or director of the non-profit organization or as trustee or beneficiary of the trust. FRMOOOl 4/91 2075 Las Palmas Drive • Carlsbad, California 92009-4859 • (619) 438-1161 ^ (Over) Disclosure Statement Page 2 5. Have you had more than $250 worth of business transacted with any mennber of City staff, Boards, Commissions, Committees and Council within the past twelve months? Yes No If yes, please indicate person(s) Person is defined as: 'Any individual, firm, copartnership, joint venture, association, social club, fraternal organization, corporation, estate, trust, receive , syndicate, this and any other county, city and county, city municipality, district or other political subdivision, or any other group or combination acting as unit.' (NOTE: Attach additional pages as necessary.) of Owner/date nature of applicant/date Print or type name of owner Print or type name of applicant FRM0001 4/91 (9 # PRQJECT DESCRIPTION/EXPLANATION PROJECT NAME: JP Mortgage APPLICANT NAME: John Prietto Please describe fully the proposed project. Include any details necessary to adequately explain the scope and/or operation of the proposed project. You may also include any background information and supporting statements regarding the reasons for, cr appropriateness of, the application. Use an addendum sheet if necessary. Description/Explanation. We are proposing a professional Mortgage Company comprising of myself and my assistant. Additional employees will be added as needed. As a Mortgage Broker, our work is done mostly on the phone or at the computer, copier or fax machine. Our clients are met generally at their home or office. From time to time they do come to our office. We also have a daily courier that stops by in the AM. As an owner operator, I am very concerned about the neighborhood and its direction. Thank you for considering my permit request. Respectfully, ohn Prietto SAME City of Carlsbad RIanninc] Department PUBUC FAaLITIES FEE REQUIREMENTS City Council Policy No. 17 requires that all developers requesting a discretionary action for a project pay a Public Facilities Fee in the amount of 3.5 percent of the building valuation. The fee is computed by the BuHding Department and paid at the time the Building Permit is obtained. In the case of a condominium conversion, the fee is calculated on the building valuation at the time the fee is paid and the fee must be paid prior to obtaining a Final Map on the project. In addition to the above, a completed, signed, and notarized agreement to pay the Pubiic facilities Fee must be submitted with any application for a discretionary action. Applications for the construction of any building by a nonprofit corporation exclusively for religious, education, hospital or charitable purposes are excluded from the payment of this fee and completion of this Agreement. Also excluded are applications for the construction of any building by the City of Carlsbad, the United States or any department or agency thereof or by the State of Califomia or any department, agency or poUtical subdivision thereof. This agreement form should be completed by the Applicant and submitted as follows: 1. Select the appropriate form for either (a) the Developer and Ovmer are the same party, or (b) the Developer and Owner are different. 2. Fill in the date the agreement is completed; the name and address of the Developer, and Owner, if appropriate, and state if each is an individual, partnership, corporation, etc. 3. Fill in the type of project proposed to be constructed such as, a 12-unit condominium or 30.000 square foot shopping center, etc., and the proposed name (if any). 4. Fill in the date the request will be (or was) submitted and the type of request such as, a tentative map, condoniinium permit, or rezoning. etc. 5. Type a short legal description of the property on the last sheet (Exhibit "A"). Legal must be an origiiiaL No reproduced copies will be accepted. 6. Sign the form in the presence of a Notary and have the Notary attach an Acknowledgement of Execution to the form. a. Include the title of the person signing the form (General Partner, Vice-President, etc.). If the agreement is signed by a corporate officer, the Corporate Seal must be stamped by the signature. b. Be sure the Notaiy form is the correct type; Individual, Partnership, or Corporation. 7. Use the attached form as an original. A reproduced copy will not be accepted Submit the original of the agreement and one (1) copy. 8. A current copy of the preliminary Title Report must accompany each application. The preliminary Title Report must have been issued within the last six (6) months. 9. Attach a check for $40.00, payable to "City of Carlsbad". '. PRM0017 11/90 ^ 2075 Las Paimas Drive • Carlsbad, California 92009-4859 • (619) 438-1161 flj RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: CITY OF CARLSBAD 1200 Carlsbad Village Drive Carlsbad, Califomia 92008 Space above this line for Recorder's use Parcel No. 203-351-11 AGREEMENT BETWEEN DEVELOPER-OWNER AND THE CITY OF CARLSBAD FOR THE PAYMENT OF A PUBLIC FACILITIES FEE THIS AGREEMENT is entered into this day of ^^^^^ . 19 by and between John G. Prietto n individual (Name of Developer-Owner) hereinafter referred to as "Developer" (Corporation, Partnership, etc.) whose address is 3071 Jefferson St., Carlsbad, Ca. 92008 (Street) (City, State. Zip Code) and the CITY OF (^^ARLSBAD, a municipal corporation of the State of Califomia, hereinafter referred to as "City", whose address is 1200 Carlsbad Village Drive Carlsbad, Califomia, 92008. WITNESSETH: WHEREAS, Developer is the owner of the real property described on Exhibit "A":, attached hereto and made a part of this agreement, hereinafter referred to as "Property"; and WHEREAS, the Property lies within the boundaries of City; and WHEREAS, Developer proposes a development project as follows:»i Jg^vr/ tfv^ ^ '^^( iie.iA.i<AA 6"fftc/e. on said Property, which development carries the proposed name of JP Mortgage and Form Approved By City Coundl April 22, 1986 Reso. No. 9169 (P is hereinafter referred as "Development"; and 73r"rl MriTcYi WHEREAS, Developer filed on the day o{_ZZZ!L—> 19^ with the City a request for minor redevelopment p^rrii-j^ hereinafter referred to as "Request"; and WHEREAS, the Public Facihties Element of the City General Plan requires that the City Council find that all public facilities necessary to serve a development will be available concxirrent with need or such development shall not be approved (said element is on file with the City Clerk and is incorporated by this reference); and WHEREAS, Developer and City recognize the correcmess of Council Policy No. 17, dated July 28, 1987, on file with the City Clerk and incorporated by this reference, and that the City's public facilities and services are at capacity and wiU not be available to accommodate the additional need for pubUc faciUties and services resulting from the proposed Development; and WHEREAS, Developer has asked the City to find that pubUc faciUties and services wiU be available to meet the future needs of the Development as it is presentiy proposed; but the Developer is aware that the City cannot and wiU not be able to make any such finding without financial assistance to pay for such seivices and faciUties; and therefore Developer proposes to help satisfy the General Plan as implemented by Council PoUcy No. 17 by payment of a pubUc faciUties fee. NOW THEREFORE, in consideration of the recitals and the covenants contained herein, the parties agree as follows: 1. The Developer shaU pay to the City a pubUc faciUties fee in an amount not to exceed 3.5% of the building permit valuation of the building or stmctures to be constructed in the Development pursuant to the Request. The fee shaU be paid prior to the issuance of building or other construction permits for the development and shaU be based on the valuation at that time. Fonn Approved By City Coundl April 22, 1986 Reso. No. 9169 This fee shall be in addition to any fees, dedications or improvements required pursuant to Tities 18, 20 or 21 of the Carlsbad Municipal Code. Developer shaU pay a fee for conversion of existing building or structures into condominiums in an amount not to exceed 3.5% of the building permit valuation at the time of conversion. The fee for a condominium conversion shaU be paid prior to the issuance of a condominium conversion pennit as provided in Chapter 21.47 of the Carlsbad Municipal Code. Condominium shaU include community apartment or stock cooperative. The terms "other constmction pennits", "other constmction permit" and entitiement of use" as used in this agreement, except in reference to mobile home sites or projects, shaU not refer to grading permits or other permits for the constmction of underground or street improvements unless no other permit is necessaty prior to the use of occupancy for which the development is intended. Developer shaU pay the City a pubUc faciUties fee in the sum of $1,150 for each mobile home space to be constmcted pursuant to the request. The fee shaU be paid prior to the issuance of building or other constmction permits for the development. This fee shaU be in addition to any fees, dedications or improvements required according to Tities 18, 20, or 21 of the Carlsbad Municipal Code. 2. The Developer may offer to donate a site or sites for pubUc faciUties in Ueu of aU or part of the financial obUgation agreed upon in Paragraph 1 above. If Developer offers to donate a site or sites for pubUc faciUties, the City shaU consider, but is not obUgated to accept the offer. The time for donation and amount of credit against the fee shaU be determined by City prior to the issuance of any building or other permits. Such determination, when made, shaU become a part of this agreement. Sites donated under this paragraph shall not include improvements required pursuant to Titles 18 or 20 of the Carlsbad Municipal Code. 3. This agreement and the fee paid pursuant hereto are required to ensure the consistency of the Development with the City's General Plan. If the fee is not paid as provided herein, the City will not have the funds to provide pubUc faciUties and services, and the Form Approved By aty Coundl April 22, 1986 Reso. No. 9169 development will not be consistent with the General Plan and any approval or pennit for the Development shall be void. No building or other construction permit or entitiement for use shaU be issued until the pubUc faciUties fee required by this agreement is paid. 4. City agrees to deposit the fees paid pursuant to this agreement in a pubUc faciUties fund for the financing of pubUc faciUties when the City Council detennines the need exists to provide the faciUties and sufficient funds from the payment of this and similar pubUc faciUties fees are available. 5. City agrees to provide upon request reasonable assurances to enable Developer to comply with any requirements of other pubUc agencies as evidence of adequate pubUc facilities and service sufficient to accommodate the needs to the Development herein described. 6. AU obUgations hereunder shaU terminate in the event the Requests made by Developers are not approved. 7. Any notice from one party to the other shaU be in writing, and shaU be dated and signed by the party giving such notice or by a duly authorized representative of such party. Any such notice shaU not be effective for any purpose whatsoever unless served in one of the foUowing maimers: 7.1 If notice is given to the City by personal deUvety thereof to the City or by depositing same in the United States Mail, addressed to the City at the address set forth herein, enclosed in a sealed envelope, addressed to the City attention of the City Manager, postage prepaid and certified. 7.2 If notice is given to Developer by personal deUveiy thereof to Developer or by depositing the same in the United States Mail, enclosed in a sealed envelope, addressed to Developer at the address as may have been designated, postage prepaid and certified. 8. This agreement, shaU be binding upon and shaU ensure to the benefit of, and shaU Form Approved By aty Coundl April 22, 1986 Reso. No. 9169 apply to the respective successors and assigns of Developer and the City, and references to Developer or City herein shaU be deemed to be reference to and include their respective successors and assigns without specific mention of such successors and assigns. If Developer should cease to have any interest in the Property, aU obUgations of Developer hereunder shaU terminate; provided, however, that any successor of Developer's interest in the property shaU have first assumed in writing the Developer's obUgations hereunder. 9. This agreement shaU be recorded but shaU not create a Uen or security interest in the Property. When the obUgations of this agreement have been satisfied. City shaU record a release. Fonn Approved By aty Coundl April 22, 1986 Reso. No. 9169 IN WITNESS WHEREOF, this agreement is executed in San Diego County, Califomia as of the date first written above. DEVELOPER-OWNER: John G. Prietto (name) ^^odividuaJ) ^>^TE OF CALIFORNU CITY OF CARLSBAD, a municipal corporation of the State of Califomia By: MARTIN ORENYAK For City Manager ''orm 3213 12.82, APPROVED AS TU ruru«. ''^'•n and for said State. ^ ^expires JUL , VINCENT F. BIONDO, JR. City Attomey (Notarial acknowledgement of execution by DEVELOPER-OWNER must be attached.) Fonn Approved By aty Coundl April 22, 1986 Reso. No. 9169 5> EXHIBIT "A" LEGAL DESCRIPTION Lot 27 and 28 in Block 48 of the Town of Carlsbad, in the City of Carlsbad, County of San Diego, State of California, according to Map thereof No. 365, filed in the Office of the Recorder of said San Diego County, February 2, 1887 Fonn Approved By aty Coundl April 22, 1986 Reso. No. 9169 d By GATEWAY TITLE COMPA POLICY OF TITLE INSLIRANCE Commonwealth ^ Land Title Insurance Company POLICY NUMBER 611-023490 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS. COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Pennsylvania 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; 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 order of its priority; 7. The invalidity or unenforceability ofany assignment ofthe insured mortgage, provided thc assigniTicnl is shown in Schedule B. or thc failure of the assignment shown in Schedule B to vest title to the insured mortgage in Ihe named insured assignee free and dear of all liens. The Company will also pay the costs, attorneys' fees and expenses incurred in defense of thc title or Ihc lien of Ihc insured mortgage, as insured, but only to the extent provided in the Conditions and Stipulations. IN WITNESS WHEREOF, Commonwealth l.and Title Insurancc Company has caiiscti ils coipoiate name aiul seal lo tie hcreuiUo affixed by its duly authorized officers, the Policy to become valid when countersigned hy an aiitiiori/ed officer or agent of the Company. Countersigned: COMMONWEALTH LAND TITLE INSURANCE COMPANY CiAI F.WAY n riT: COMPANY My Attest: President Secretary 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) Any law, ordinance or governmental regulation (including but not limited lo building or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) Ihe occupancy, use, or enjoyment ofthe land; (ii) thc character, dimensions or location of any improvement now or hereafter erected on the land; (i'i) a separation in ownership or a change in Ihc dimensions or area (if 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 exteni that a notice of Ihe 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 thc public records al Dale of Policy. (b) Any governmental policy power not excluded by (a) above, except lo thc extent lhal a nolice of Ihe exercise Ihereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affciting Ihe land has l>cen recorded in the public records al l^ale of Policy. 2 Righls of eminent domain unless notice of Ihe exercise thereof has heen recorded in Ihe public records al I>ale of Policy, but not excluding from coverage any laking which has (HTurrc<l prior to Date of Policy which would lx- binding on the rights ofa |>iuchascr for value without knowledge. 3. Defects, liens, encumbrances, adverse clain\s or other matters: (a) whether or nol recorde<l in Ihe public records at Dale of Policy, but created, suffered, assumed or agtee<l to by the insureil claimant; (b) not known to the Company, not recorded in the public records al Dale of Policy, but kncnvn lo the insuied elaimanl and nol disclosed in wriiing to Ihe C\mrpany by Ihe insured clairnanl prior to the date Ihc insured claimant h-came .oi insuied undei this policy; (c) resulting in no loss or damage to Ihe insured claimant; (d) attaching or created subsequent to Date of P<>licy; or (e) resulting in loss or damage which would not have been sustained if Ihc insuied clainiani had paid vahi'^ for the insured mortgage or for the estate or interest insured by this policy. 4 Unenforceability of the lien of the insured mortgage Ixrausc of Ihe inability or failure of the insuied al Date of Policy, or Ihe inability or failure of any subsequent owncr of the indebtedness, to comply wilh the applicable doing business laws (>f the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, vvhich arises onl (>f the transaction evidenced by the insured mortgage and is ba.sed upon usury or any consumer credit prolccli(m or truth in lending law '""'"'""""""""""""'''""'""""^ CLTA Standard Coverage Policy Form Form MBfi-G 1988 Valid Onlv n Schednles A and H Are Attached CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. The lolloMlilts icriiii when UM:I1 III IIII> policy mean: 1 (M) "lUiurcd". llic iiijuicU iiuuicJ iii S^licJult A, Jild. ijLj..vi U) Jii> iiijlils. ui dcltiiits llic ( oni|iaii> MuuM lia.c liud aijaiii^l llie iiaiii..\l iiibiiieJ. iliuw uli.i ^uc^cil lo llie iiileicil ol tlic named iiiiiiicJ b> u(<ialioii of Uv. a:> di^liii|iui^hed lioiii )uir>.lia:>e iiiLludiii|{, but luil liiniled lo, licll!,. duuiliulcvs, dcn«.e>, iuivuou, peiioiial icpititiiiali.ca iit»l ol im, oi coi(>oralc ol ridiii.iai> ^UiXCi^ior^ I he lerm "iiisuicd" also iiieludes HI lhe ovkiici ol llie iiid..lilidiu:,i wiiiieJ li) llie iiiiuied miirigat;c and eaeh iUectssoi ill uwiieiitiip of lhe iiidcblediiejb except a iucceb^,ur wlio is an obligoi under lhe piovibioiib of Seclion I2(c| of ihese Condilions and Slipulatiuns (rescf'.in^. however, all rigliis and defenses as lo an) successor lhal llie Company would base had agamsl any piedecessoi insured, unless lhe successor acquiied lbe indebledness as a puKhasef fui lalue miluuil knonledge of the asscrled deled licii, <.ii,.uiiibiaiwe, ad\eise wlaliii oi ollici iiiaiui insured agaiir.1 li> ihls iiolk) as allcdiUji ml. lo itie cslale ol iiileiesl in Ihe land), im an/ gu\einiiieiilal at;eiK) iii go^criiiiienial insirumenlality which is an insurer or (juaraiiloi iindci an insurance tmiUai-i or ^uaranly iiiniiing .ir guaranlceiiig lhe indebledness ^.ci.uud b> lhe insured liMIlgagc. >>r all) paii llicieol, wlicilici named as all liisulcd lieiciii or nol, UUI lhe pailies desigii.iii..l in Sc. lion J lal ol ihoc t oii.liiiuiis iiid Slipulallons (III "msuied clamialil au iiisiiied LLIIIIIIH^ loss oi daiii.ii;e (..I "insured lendei' . lhe ownci of an in.uiwd iiioil^age Id) "iiijuicd iiiuiigatic . u iiK)iit;j^t sluiwi. Ul StlicdiiL 11. lb.: ...Mici ol which is named as an insuied 111 Vhcilulc .A (cl knowledge' Ol known a.nul l,iiowkdt:c i.oi , ,,ii.ii n. lu c l,iuiwlc.lt:L oi ii,.iui. whuh Ilia) Iv impuicd lo an iiisiii..d b) u.i.on of lla |Hiblu u..ii,l, a,, dcliin..! in lliis polk> oi all) ollici m.ilds WI.KII liiipail . oiisll limine in.in, ol liiallcis alb.ling lbe land (ll i.o,.r' li.e Lm.l dcs.iilvd .n i.ku.d u> in S. ludiilc i ( and iinpio'.enieiils alli\ed llieicM which b) law •.onsinuie ual projieii) lbe Uim "land .Iocs nol include any properl) tiesond (lie lilies of lhe aiea d,.si.llUd or relciicd lo in .Schedule ; < 1. noi jiiy lighl, lille, lillciesl, eslale ol ^jscnieul 111 abi.llliig sliecls. loads, avcni.cs, alleys. Lues, wa). oi walciways. bill nolliiiig lieiein shall modify or limil lhe eUeni lo .(.hub a righl of access I., and liom lbe land is msuied b) this ixilic) (gJ 'nioilgage' ni..ilgage, deed ol linsl uusl deed, ol olhei seiuill) lilslrumenl (111 "piibin icoids n,,.oids eslabhslitd iiiulei slale SUUIULS al IJale ol Polic) loi lbe puipose 01 imparling ..oiisliuiliic iioiKt of nialleis rclalliig K» ieal pi^ivil) lo pulchascis loi value and wilhoul knowledge (11 "unmarkeubilii) ol lbe lille ' an alleged ,« appaiem mailer alleciing lhe lille lo lhe land, UOI ex.iiukd ,ir ex^cpled lioin .oieiage which w.iiild eiuille a pnuhasei of lhe eslale or inleresl descnbed in Schedule A or lbe iiisuied iiK.rigage lo IK released lr..iii lhe obligaiion to purchase b) tiilu. of a .oiUKKlual ..ondilion K.pming the delivel) ol niaikeiablc lille 2 CONTINUA1ION Ol" INSUHANCE (al AKei \. ^nisiln.u .it lille b> liisinc.l I eudei ll this pohc) insiiies the ownei ol lbe iiideblednes, scviue.l b) the insuied inoiigage, lhe coseiage ol this polu) .ball lonlmue in buce as .1 Dale ol I'olii.) Ill favoi of (i) .,i.li insuied Icndei wli.i uc.pincj all oi ail) pall ol lhe estaie or interesl in the land b) fviicvlosuie, liuslec's sale, ioiue)ancc in hen of foreclosure, or olher legal manner which dischaiges the lien of the msuied moitgage, (ii) a iiansferee of llic cslale or inleresl sii a.quned lioiii an iiisiiicd ^oipoialion. piosided lhe liansleice Is the paieiil or wluill) iiwiied • ubsi.liai) ol lbe msuic.l coip.iialioii, ami then c.irpoiaie siiciess.us b) opciation ol law and luit by puuhasc. subjcvl to an) lights or .lefeiises lhe I ompaii) may lia\e against an) predecessor msureds. aud (111) ail) goseinmcntal ageiK) oi goveininental iusliinnentaht) which aiquiies all or an) pail ol the eslale or iiiieiest puisuani to u contiact of insuiance or guaiani) iiisuiing oi gii.iianlceiiig the indebtedness sctuied by the msuied nioilgage (bl .Allel (. oiive)aiiCc ol litle b) an liisnud lhe coveiage ol ibis polk) shall conlmiie in louc as of Dale of I'ulicy in favoi of au insuied only so long as the insuud lelains an eslale oi mleiesl m the land, Ul holds an indebtedness sccuied by a purchase money nioilgage given by a purchaser lioni the insuud, ..i only so loi.g as lhe msuied shall have habihty by reason of covenants ol warrant) made by the insured in any transfer or tonve)aiRe of the estaie oi mleusl I his'policy shall n.it continue in force in favor of an) purchaser fioni an insured ol cither (i) an eslale or mlcresi in the land, or (ill an indebtedness secured by a pinchase nione) inorigage given lo an insured (..I Amouiil ol Insuiance Ihe amount ol iiisuiancc allei llie ai.quisiluiii .ii allei lhe conveyance b) an insured lender shall I'l iieilhei event CKCced lbe least ol III Ihc aiiKuml of msurance stated in S,.bedule A, ml lhe ..iiixuiii ot lbe piiii.ipal ol lbe mdebudiiess scuu.l li) the msuied nioilgage as ol l)aie ,.l I'olu), luieiesi ilieie.ui. e»|».ii..Ls „l hue. losiiie, amounts advaii i..l piiisiiaiil lo the msuie.l nioilgage lu assuie compllaike wilb iaws .>i lo proieci lbe li^i. ol lbe insured nioilgage pnor U) the 0. nc Ljf ac^uisiLiuii of the esuiie oj interest iii the land and S4;euied ihereby and reasonable anu>unls eA^iended to prevent deierioralion of mipiovements, but reduced by the amount of all paymenls nade, or till) Ihc amount paid by an) governmental agenc) or governmentdl iiisliumcntalily, if the agenc/ or lhe insirumenlalily is the insured elaiinant, in the acquisiiion of the estate or intcicst in sallsfaeiiou ol Its m;,uraiiee Coiiiiacl or guar^nly 1. NOTICE OF Cl AiM TU HE GIVEN BY INSUHED Cl AlMANT. All insu-ed shall iiolily the ( ompany piomplly in willing (i) in case ol any liligalioii as set lorth in 4<al lielow, (ll) in caM. knowledge shall eonie to an iiisuie-d lieieUiidci of any elaini of lille oi iiiicicst which Is adveise lo lhe lille i.. lbe e.iaie oi Inleiesi ,u the lien ofthe insuied nioilgage. as llisUIed .:ild wl.ich n.lgbl Cause loss Ol dali.age loi whieh lbe ( tillipall) may U liable b) Vlllue ol this poh^). Ol iiiil if title l.J lhe estate .u mierest oi tbe lien .>f the msuied nuMlga^e, as insured, is lejecled as umnaikeiable If pronipi notice shall not f^: given to the Company, then as lo that insured all liabiiily of the Com^Miiy shall lermmatc with icgaid lo lbe nutter oi matters for winch pioiiipt noiiec Is required, piovided. howevci, lhat lailuie to noiit) ilic C ompany shall m no case picjutlice the lights ofany insured uiiJci ibis poltey unless the ( iim|iaiiy shall be picjudlccd by ibe failuic and then only to lhe v clem ol the pic|udie% 4. UEFENbE ANO (>H05ECUII0N Or- AC HONS, UUTV Ut- INSUHfcU CLAIMANT ro COOPERATE. (a) Upon wnllcu lequcsl by an Insured and subject lo the options contained in Section b of tticsc C onditicns and Siipulaiioiik, the C ompany, al its own cjsl and wiihoul unreasonable delay, shall provide for the defense of such insured in litigation in which any third party asserts a claim adverse to the title or mierest as insured, bul only as lo those slaled causes of action alleging a defect. Iicn oi cncuiiibiaiiec or otber mallei insured against by this (Kiliey Ihe Company shall have thc nglit to select counsel ol us choice (subjcet tu the iiglil of such insured lo object for reasonable i:aU9c) to represent the insured us to those stated causes of action and shall not be liable for and will not p«y Ihe fees of any other counsel I tie Company will nol pay any fees, costs or expenses incurred by an insured iu the defense of those causes of action which allege matters not insured agaiost by this policy (b) The Conipany shall have ll^^^^ »> i'^ own >^osl, lo inslitutc and prosecute any action or proceeding or tu Jo any other act v^^^Hf its opinion may be necessary or desirable to establish the lille to lhe estaie or interesl or the fHWri the insured mortgage, as insured, or lo prevent or icducc loss or damage lo an insured Ihc Conipaii) ma) take aii) uppropiiaie action undei the leiiiis of this p.jlic). whelher or not it shall be liable heicunder. and shall nul tiiereby concede liability or waive any puivision of IIIIN p.ilie) If the ( ompany shall exercise ts rights under this paiagiaph, it shall do Sil diligciill) (el Wiiencvei the ( ompaii) shall have broughl an action or inlcrposed a delciise as lequiied or |K-iniilted b) the provisions of this pohc). thc Compaii) may pmsue any litigation to fmal dcteiinmalioii b) a eouii vif eonifKlcnl junsdiction and expiessi) icscives the light, in its solc discielioii. to ap|>cal liom an) adveise indgineni or order (d| In all L.i:.es wlicic this polie) |>crimls or lequiies the Compan) lo pioseeule or piovide lor the defense ol aii) aclioii or pioeecding. an insured shall secure lo the Compaii) the light lo so prosecute or provide defense m the action or proceeding, and ail appeals therein, and (A;rmii the Compan) to use, al its option, ihc name of such insured lor this pur|X)sc. Whcnevci requested by lhe Compaii). an insured, at the ( ompany s exfiensc. sliall give the ( onipaii) all leasoiiable aid (i) 111 ail) .iLtioii I r piocccilmg sceiirmg evidence, oblaiiimg wiliicsses. pio,eculing or delcndiiig lhe avlioii Ol pioeecding, oi elleeliiig sclllemeiil, and (III in any other lawful acl which in the opinion of the C ompaii) ma) K iicvcssai) oi desirable lo establish the title lo the estate or inteiest or the hen ol the insuied nioilgage, as insured If Ihe ( ompany is prejudiced by the failure of an insured lo fmnisli the icquiicd eoo|)Cialioii lhe ( ompany's obligalmiis lo siicli msuied undei lbe polie) ^llall Uiiiimatc, mcluding ail) liabilit) or obligation to defend, prosecute, oi eoiilmiic any liligaiion, with le^i.iul lo lhe iii.iUci oi iiiaileis leqiiiiiiig such coo|>cratluil 5 PROOF OF LOSS OR DAMAGE In adilUuni lo and allei llic notices required under .Seclion I ol these ( onditions and Slipulallons have lieen provided the Company, a proof ol loss or damage signed and swoi;i lo by each msined .laimaiil shall l>e fuinished lo the Company williin ''(I days allei lhe iiisuicd claimant shall asecil.iin the lav Is giving rise lo the loss or damage lhe proof ol loss or damage shall describe lhe defect in. or hen or eiieumbiance on the lille. or other matter msuied against b) this policy which conslilules the basis of Uiss or damage and shall slale, to thc extent possible, the basis of calculating the amoiint of the loss or damage If thc Coinpany is picjudiced by thc failure of an msured .lainiaiil lo piovide lhe requiied proof of loss or damage, the Company's obligations lo such iiisiiied undei the poln.) shall leiiiimaie. iiiclndmg any liability or obligation to defend, piosccutc. or .oiilmue .111) liUgalkiii. wilh regard lo the matter or mailers requinng such proof of loss or damage In addiUon, an msuied claimanl may reasonably be requiied to submit lo examination undei oath by aii) aiilhori/ed repiesentatlve ol thc ( oinpaii) and shall produce for examination, msiKctioii and eop)mg. al such leasonable limes and places as may l>e designaled by any authl)^l^ed lepieseiilalive ol the Coinpany, all lecoids, books, ledgers, checks, coriesi>imdeiice and mcmuraiida, whether bearing a date iH'lorc or after Date uf Policy, which reasonably |M:rtaiii lu the loss ur damage ruitlicr, if requested by any authorised represenlative u( thc Conipany. the msuied Llaimaiil shall giaiil its |>eimission, m writing, foi any aulhoii/ed lepiesenlative ol llic ( oiiipany to examine. iiis|>ec: ami cop) all lecoids, bonks, ledgers, clietks, coiiespondeikc and niemoianda m lhe eustod) or lonin.l ol a ihird parly, which icasoiiably (icrlain to the loss oi damage All iiiloimaiioii designated as LOiilideiitial by an msuied claimant provided to the ( ompaii) puisuant to this Seclion shall mil IK diseh/sed lo others unless, m the leasonable jiidgiiiciit of lhe ( ompany. it is iic.cssai) in lbe adminisiialioii ol lhe claim I ailuic of an insured claimanl lo submit foi exaniinaiioii uiulei oalli, prvidiiec othei lea.onably lequestcd Iiiloiinatloil oi giant (icimissioii to scenic leasonably iieccssai) iiiloimalion liom third parties as lequired in this paragiaph, unless prohibiied b) law oi goveiiimeiilal icgnlalion, shall leiminale an) liabiiily ol the ( oni|iaiiy uiidei lliis polic) as lo thai insuied for thai eKiiiii 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In ease ol a clami under this policy, the ( ompany shall have the billowing additional oplions (a| lo I'a) or lender I'aynicnt ofthe Amount of Insurance or lo I'urehase the Indebtedness (II lo pay Ol tender payment of the ainount of insurance under this |>olicy logeihci with all) costs, alloiiieys Ices and ex|iciises incuned by the insuicd claimant, which were authorised by lhe ( .iinpaiiv. lip ll' lhe lime of pa>i>ieiii oi leikler of payment and whieh the ( ompany is obligated to pay. Ol (III III ease loss Ol damage is claimed imdci this policy by the owiiei ol the iiiilebledness secured b) the insuied iiioilg.lge. lo |inuhase lbe indebteilness seemed b) the nisiiicd nioilgage loi ihe amoiiiii I'Wing theieon tiigciber wiih any c.isls. attorneys' fees and exficnscs inLiiiied by the insuied elaimaiii winch were aulhori/ed by the Company up lo the tunc of puicliase and whieh thc Company is obligated to pay If the Company oilers lo purchase the indebtedness as heiein piovided, lhe owner of the mdebledness shall transfer, assign, and convey thc indebtedness and the msured nioilgage logelhei with any collateral security, to the Company upon payment therefor Upon the exercise by the Company i'l the option provided loi in paiagiaph a (i|, all liability and obligations to the insured under this policy, ulhcr than lo make the payment required in that paiagiaph, shall Icimiiiatc, mcluding any liability or obligation tu delend, prosecute, or coiiiinuc any litigation, aiiil the policy shall bo suiicndeied to the Company foi cancellation Upon the eiilLlse by the ( \lillpall) ill lIlC optli.n |ilovlded li'i 111 (lalaglapll a till the ( i>mpaii)'s i'btigaiion to an iiisuied 1 eiidci uiidei this poiley li>i lhe claiiiied loss ol iiainage, olliei than the paynieul lequieid to )>e maile. shall terminate, including any liabilit) oi obligation lo ilcfend. pioseeute oi continue any htigaliun (b) 111 Pay or Otherwise Settle With Parties Other than the Insuied or With tbe Insured ( lainiant (ll lo pa) ill otheiwise settle with iilliei parties fiir i>r tn the name ol an insuitxi claiiiiaiil any claiiii insuted agamst uiiilei this (Miliey, togetliei with any costs, alloineys' Ices and exiicnscs iiiiuricil b) the insuied claimant which were authorised by the ( ompany up lo Ihc (imc ol payment and which the Company is obligated lo pay, or (li) to |>ay or otherwise settle wilh the insured clainKut the lost or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by (he insurciJ claimant which were authorised by (he Ctmipany up (o the (imc of payment and which the Company is obligated to pay Upon the exercise by (hc Conipany of cilher of (he options provided fur in paragraphs bfi) or b<n), the Company's obligations (o (he insured under (his policy for (he claimed loss or damage, uther than (he payinen(s required (o be made, sliall (erinina(e, including any liabilKy or obligation (o defend, prosecu(c or condnue any liligalion Conditions and SUpulktions Continued Inside C CLTA Joint Protection Policy No. 660-1603209-61 Control No. 611-023490 Premlumj $833.5 SCHEDULE A Amount of Insurance: $190,000.00 Date of Policy: August 16, 1991 at 12:13 P.M. 1. Name of Insured: John G. Prietto and Donna M. Prietto Nicholas C. Crumpton and Karen Crumpton 2. The estate or interest in the land which is covered by this policy is: a fee 3. Title to the estate or Interest in the land is vested int John G. Prietto and Donna M. Prietto, husband and wife as joint tenants SCHEDULE B CLTA Joint Protection Policy No. 660-1603209-61 This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise by reason of the following: PART I 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency or by the public records. 2. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by an inspection of the land or 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. 6. Any facts, rights, interests or claims which are not shown by the public records but which could be ascertained by making inquiry of the lessors in the lease or leases described or referred to in Schedule A. 7. The effect of any failure to comply with terras, covenants and conditions of the lease or leases described or referred to in Schedule A. SCHEDULE B CLTA Joint Protection Policy No. 660-1603209-61 PART II 1. Property taxes, including any assessments collected with taxes, to be levied for the fiscal year 1991-1992, which are a lien not yet payable. 2. The lien of supplemental taxes, if any, assessed according to provisions of the statutes of 1983 of the State of California. 3. A Deed of Trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby. Amount: $152,000.00 Dated: July 29, 1991 Trustor: John G. Prietto and Donna M. Prietto, husband and wife Trustee: L.G.F. Enterprises, Inc., a California corporation Beneficiary: Nicholas C. Crumpton and Karen Crumpton, husband and wife as joint tenants Recorded: August 16, 1991 as Instrument No. 91-0421095 Pa no CLTA Joint Protection Policy No. 660-1603209-61 Control No. 611-023490 Premium: $833,5 SCHEDULE C The land referred to in this policy is situated in the State of California, County of San Diego and is described as follows: Lot 27 and 28 in Block 48 of the Town of Carlsbad, in the City of Carlsbad, County of San Dlego, State of California, according to Map thereof No. 365, filed in the Office of the Recorder of said San Diego County, February 2, 1887. Schedule C o z < cc 1 /*o 1 16 15 Cy .3'© II ® 9 B®7 e's ^3 2,1 ,10) . 1 1 ^ , 1 . |B^K III! 1 1(355) III! 1 1 1 1 ' ' r 1 1 i« * HARDING avTH cm) 19 '7,'80, ® irrr ITT I I 16,15 ©12 PAR I ' ' H aMAC 2012^22^' i25e|27l "LK 56 lU ® 131 10 « 7 6 5 3 2 1 »! I|»M I M M ' (15)0.72 AC. It JEFFERSON SAN 0IE6Q COUNTY tSS£SSOt'S MAP H 203 P6 3S POOR ORIGIWill L CT" 16 15.14,13 12| II I© BLK: 10© 19 (353) ©» 5©3 6 6 cf:Nrj-E( ST. ftr 17 ts 19 20 21 ' !24 ©,22 23© ® 12 cm: 10 9 '« |H H ii *. ( 26 28' 25® 27 (5^29,2 ;©32 BLK 57 8 7 6 5 4 3 2 1 r )if ST. 18 20 22 24 €0V 26 _ 28129 BLK 48 31 PMTSal 16 14 13 11 150 ,12 FM. i t MADISON 10® 8 © 6 G 5 ©0 ST. I Wl ao 0 10! CHANGES 35f 3»2 353 35* fS le 82 /5 9*3*^ d6i 2^ A«9 CM: MAP 775(365.535) m OF CARLSBAO AMENDED BLKS ««. 56, 57 i DOD M cc t C-T CONDH IONS ANI) SMPl'l ATIONS (C\>ntiiuied) 7. OETFRMINATION ANO EXTENT OF LIABILITY. Iliiv piilii ) IS .1 lonliiiil ol iMilriTiiiilv .'iKainsI luliiiil ITIOIII-IMI) IOV^ or (biiM;ijri- vir.l:iinril m mi uticd by ibc mviiirit i I:IIIM:IIII who has MiMcrrd loss oi ibimii^e bv uasoii ol iii.illetv IMMIII 'I xgitinst by this p<ilu v and onlv lo lb"' r»lcnl bpfcm desciibc-d In) Ibr liiibililv ol llll' ( iim|i'iiiv illiilri lliis poln y lo : isiili il l.'liili l sh.ill nol .iiiril Iiu I, .rl ..( (ll Ibc Amount ol liisui;inic sl;ilril in Stbciliilc A. or. il .ipplic^iblc the iinoiint ol in'iurantc as drrinod m Section ? (c) of these ( onilitions .ind Slipulallons, (ii) lhe amount of the unpaid principal indebtedness secured by ihc insured niorlgagc as hmilcd ot provided under Section X o( Ihesc ( onditions and Stipulations or as reduced undii Section 9 ol these ( onditioni and Slipulationi, at Ihc lime lhe loss or iliiinagr insiiieil igainsi hy this policy occurs, together with interest thereon; or (III) thc dilTcrcncc between Ihc value of the insured estate or interest as insured and ihe v.iluc of the insured cslale or inleresl siih|rcl to thc defect, licn or eneiinibranec insuied .igaipsi bv this pollcv (b) In Ihe event the insured lender has acquired thc estate or interesl in the manner described in Section 2 (a) of these ( onditions and Slipulallons or has conveyed thc lille. then Ihe liabililv of the ( ompany shall conlinuc as set forth in .Scctiim 7(a) of these ( onditions and Stipulations (c) fhe liability of thc Company under this policy to an insured owner of the estate or interest in thc land described in Schedule A shall not exceed the least of (i) the Amount of Insurancc slaled in Schedule A: or. (li) Ihc diflcrcncc between thc value of the insured estate or interest as insured and the value of the insured estate or interest siib)crl to thc defect, lien or encumbrance insured against by this polu y (d) Ihe ( ompany will jiay only those losls. alloineys' Ins ,ind ev|H-Tives inciiiied iii aiioidaiue with Sn Iton i o( ihesc ( ondiiions and Stipulations 8. LIMITATION OF LIABILITY. (a) M Ihc ( ompany eslablishes lhe title, or removes the alleged defect, hen or encumbrance, or cures Ihc lack o( a right ol access to or Irom lhe land, or cures the claim ol iinmaikeiabiliiy ol tiile. or otherwise establishes thc lien of the insured mortgage, all as insured, in a reasonably diligent manner hy any method, including litigation and the completion of any appeals therefrom, il shall have fully performed its ohiigattims with respect to that matter and shall not be liable bn any loss or damage caused thereby (b) In Ihc cveni ot any liligalion. including litigation by the ( oinpanv or with the ( omp.inv's conseni. Ihe ( ompany shall have no liability for loss or damage until Iberc has been a ("mal dclcrminalion by a court ol cimirictcnt jurisdiction, and disposition ol all appeals theielrom. adveise to thc title, or. if applicable lo thc hen of thc insured mortgage, as insured (i ) Ihe ( ompany shall not be liable lor loss or damage to mv insuied bir liability voluntarily assumril by thc insured in sctlimp anv iliim or suit withoiil lhe prior vsiiltcn lonscnt of thc < ompany (d) the ( ompany shall not be liable lo an insured lender lot lil .inv indebtedness created siihscipicni |o Dale of POIKV enepl lor advances made to protect the hen i>l the insured mortgage and ser lired thereby and reasonable amounts cxrwnded to (vrcvent deierioralion ol improvements, or (ii) conslruclion loan advanc es made siibscipient to Male of I'oliev. except construi tion lo.in ailvam'-s ma<le siib^cqucnl t(> Dale o( Policy bir Ihe purpose of (inancing m whole or in part thc eonstnietion of anv impiovement to lhe land which al Date of Policy were seciireil bv ihc insured mortgage and whuh the insured was and conlinucd lo be obligaleil lo advance at and alter Date o( Pohcv 9. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LIABILITY. (a) All pavments under this policy, except payments made lor costs, atloineys fees and expense, shall reduce ;hc amount of insurance pro tanto llowcvei as to an insured Icndei. anv payments made prior to Ihc acquisition ol title lo the estate or interest as provided in Section 2 (a) o( these ( onditions and Stipulations shall nol reduce pro tanto Ihc amount of insurancc aiforded under this policy as (o any such insured, except to thc exteni ihai ilie pavments rcdme lbe ,:nioiini of thc indebledness secured by the insured mortgage (b) Payment in part b) any (H'rson ol thc principal o( the indebledness. or any oihei obligation seiured bv the insured mortgage, or any voluntary partial satisfaction or release of Ihe insured mortgage lo the exlent ol the pa)menl. satisfaction or release shall icdiicc Ihe amount ol insniame pro tanto Ihe amoimt ol insuiaiKC may thereafter be increased bv accruing inleresl and advanirs made to protect the lien o( the insured mortgage and secured iheicby. with interest thereon, provided in no event shall tbe amount ol insurance be gicaiei lhan the Amoiinl ol InMiiaine si.iied in Scb'-'lul'' A Ic) Pa)menl in lull by any [x-rson or the voluntary >aiislacHiui or release o( ibe insured mortgage shall trinunaic- all liability ol the ( lunpany to an insnrrd Irnclc-i rxc e(U ,is poiviiled in S/-'.lion 7(a) c.( tlirsr ( onclitions and Stipulations 10. LIABILITY NONCUMULATIVE It IS expressly iincleisic.i.il lhal the amoimt o( insiiiancr uncier this pohc v sli.ill l>c- rc ilii. ed by any auiounl ihe ( ompau) mav pay undei any policy msiiiing a nioilg.ige to which c«c epiion is tafrn n Sc b-dule B or lo which ibc insured has agreed, assumed, or taken siibjcM. or which is hrreaflcrr c-xceuted by an insiiird and which is a chaige or lien on the estate or inlriesi ch-scriN-d or referred to in Schedule A. and the amount so paid shall be deemed a payment imdei this |v.ilic v lo Ihe insured owner Ihc provisions of this Section shall nol apply lo an insured lender, unless such insured accpiiies tide to xaid estate or interesl in satisfaction of the indebtedness secured by an insured mortgage 11. PAYMENT OF LOSS (2) No payment shall be made without producing this policy for endorsement of thc pavment unless thr policy has heen lost or destroyed, in which case proof ol loss or rlesirm lion shall \y furnished 'o the satisfaction of the Company (h) When liability and the extent of loss or darnage has been dclinitely fixed in accoidance with Ihese Conditions and Stipulations, the loss or damage shall be payable within V) days thcicaher 12 SUBROGATION UPON PAYMENT OR SETTIEMFNI lal Ihe ( onipanv s Mi^'bl ol Siibi.'i'.ilioii W'henevri lh, (ompany Icill ha.c ,.ll|c'.l .in.l pud i < fcicii ciii.lii ibi-. poll, v ill n^ilil ol subiogation shall V,M m lln ( c.ni|>anv nn.illcc led bv anv act llic- iiciiic-d c l.ciiiiant Ihc ( onip.iiiv '.hill be '.lib,o). Ill,I 1,1 in.l l» inlillid in ill in'lils ,„.l ninrcb,". cvlii.l, llic insiiiecl c.1.um.oil vvouicl have h.icl ,i^'uii'.i .oiv pt iMin cu pici|H'iiv m IC''.|H'C I ici the claim bad this policy nol !>c'en cMiid li n'i|iic •.led bv lhe ( oinp.iuv. the insuied il.iimani shall ti.inslei to the ( omp.iny alt iii^bis ,irul reniedie-. ,ig'iinsi anv |M'ison oi (>io|H'itv necessary in cHilcr ti^ pcrlect this right ol subiogalicui Ihe insured cl.iimant sball iseimit thc ( cmipanv to sue. compromise or settle in tbe name ol the msuied cl.iim.inl and io use lbe name ol the insured rliimant in anv transaction or Imp,Ition invcilving these riphts or rcniedies II a |iaymenl cm account ol a c laiin does nol lullv covei the loss ol the insured cl.iimant. lhe ( ompany sh.ill bs' subrogated (il as to in uisiiied ovvnci. to all rights and icuieilies in tbe proporalion whic h the ("ompinv s pavment K-ars to ihe vcbolc amount of Ihr loss, and (it) as tec insuted lender, to all lights and remedies ccf the insured c laimant aller the insured claimant shall hive recoveied Us princip.il, interest, incl costs ol ccillection II loss should result Itotii ,inv act of lhe insured claimant, as staled above, lhal act shall ncvt void this pohcv. but Ihe ( ompanv. m lhat event, shall be required to pav onlv thai part of any losses insured against bv this policy which shall exceed lhe amount, if any. lost lo the (Ompanv by r;'ascm ol the impairitienl bv lbe msnted claim,tnl ol the ( cmip,inv s right cif subrccgaticcn (b) Ihe Insured's Rights and I tntitaticins Ncviwithstandtng lhe foregoing, lhe owner ol the indebledness secured bv an insured mortgage, provided the piioiilv of the licn ol the msnted moilgage ot its enfoneabilitv is not tfTeiteif, m.iv lele.ise or sttbsttiiite lhe (>eisoti,il liibililv of .ittv cleblot or gii.it itilor, i>i exlend ot ollu tvvtsc modify the leitiis ol p,tvmeiil. ot lelease .i potiioit ol the eslale or interest liom the lien ol the msuied moilg.ige. ol lele.ise anv coll.iUt.il scitutiv l,.i tlte indebtedness When Ihe iH'ittittted ac ts ol the itisiin cl cl.itm.int IHC ttt .oid llu' tttsiiic ci h is knowledge ol inv ilatiti ol mle ot tttleic'st .iif\eise lo lhe lille lo the estate or tuletest ot the ptioitiv jjt enlotceabtliiv ol the hen of att insured inotliMgc ,ts tiisiiicd. lhe (Cmp.inv shall be tc cjuiied lc> (lav onlv ih.il p.itl of .itty losses insuted ag.iinsi bv litis (>c>lti v which sh.ill exceed lhe ,imcvtttit. il anv, lost lo lhe ( ompanv bv reasoti ol the im[i,iiiinent bv Ihe insured cl.timatit of the ( ccmpany s right ci| subrogation (i) Ihe Cottip.itiv s Rights \gatnsi Non Instjted llbligors Ihe ( ompanv s right of subtcigaliou against noti insured obligors sh,ill e»is| ,ind shall include vvithcml limitalion. the rights i.f the insured to indemnities, gtiaianties. olher policies ol insnrance ot bonds, notwithstanding any teims or condtttons contained m those instruments which provide for subrogation nghts bv reason ol ihts polu v lhe Company's tight of subrogalion sh.ill ncc| be avoided bv anpiisilion ic| ,in msuied mortg.tge by an obligoi (except ,in obltgoi descnbed in Set Item Italdil ol these ( ondiltoits and Stipiil.itionsi who acc)utres the msuied itioilg.ige ,is ,i lesull ol an tndemtillv guai.intee, othei policy ol tnsui,ince. or bc'ncl .iiid the obltgot will not be .in insured iindci this policv. notwithstanding .Section ItaMil ol these ( onditions anil Siipiilalicuis 13. ARBITRATION. I'niess piohibtlc'd h\ .tpphcitde fiw eiiher tlie I omp.ittv oi the insuted tnav dent.ind aibiliatton putsii.ini lo the lille liisuiiiice \tbiti.ini>ii Rules ot lite .Amerit,iit NtbiiMiion Association Arbitr.ible matters ni,iv include, but are not hituled to. anv conlic<versv c>i claim belween the ( ompanv and tbe msnted arising oul ol c<i relattng to this pohcv. anv service of the ( oinpanv in icinneclion with its issuance or lhe bieaeh i>f ,i policy provistcm cir other obligation Ml arbitrable matters when the '\moiitil ol lnsiitatn e of SI .(MXl.OOd cr less shall K- arbtlrated at the opltcui ol either lhe (Omp.inv ot (he itisiited \ll .iil'Kiable mallets when the 'Vmount ol Insuranee IS in excess of SI .iMHl.Oim shall K' .itbitt.iied "ulv when .igteed lo bv both the ( ompanv and Ihe msured Arbitration pursuanl to thts polnv ind under the Rules in effect on the date the demand fot arbitraiion is made oi ,ii the option i-f lhe msuied. lhe Rules in effcit ig Date of Policy shall be binding upon (he piiiies lhe awatd ni.iv imliide al'cmievs fees only il Ihe laws of thc stale in whteh the land is located pcrmtl a comt to award allo-nevs fees to a prevailing party Judgment upon the award rendered bv lh- \ibtit:i!oilsi tiiiv N' entered tn anv court having |iirf^di'. lion theieol Ihe ia'.v of lhe situs ol i)ic- linrl di.cll api'lv to an arbtti.iltoti iincfet Ihc I tile Insur,uuc Arbitration Rules \ ccipv ol the Rules m iv Iv olciaiiv'.l lo'tli lhe ( oinpanv upon ,ei|iiest 14. LIABILITY LIMITED TO TMIS POLICY; POIICY ENTIRE CONTRACT ( ,1 I his pohc V tc eiititr pc'Iic V and c ott ihis (vohi V, tills polu 1 .gelh. with ill eiido ('tween the ins Iv . oiisltif cl a s, tl anv, .111 ir hed hetelo bv lhe ( oliip.inv id the ( oiiip.iiu In ttlleiptelllig -tliv ptovlst vlii.le (M \nv claim of loss ot d,iiii, lbe st cicis cl the lien cl :he insiiie, cl h\ anv lc tion .issertinp s,ii h < ia 'vheltu't cr net b.ised CMI negligence, and which .ttises cul ol 'itg.U'c ct ci tile telle lc the esi.iie ct tnleiesi ccvered Itetebv sliall Iv lestrieied to ihis pohcv lc I No .citvndiiient ci '..11 ..1 aii.icli.'d h.ii'lc 15 SEVERABILITY. In the evetu any ptc the policy shall Iv clceuie force and effei I sigtcl b' an K ti|ail'' except ov i \v tiling ti \ 11 e I'lc si.leni lhe See te l. ci the ( cciiip.inv •tl cf the policv IS held invalid c^i unenbnceable under .ipplicable law, • 1 lo uu hide- thai picvisioti mil all ether ptovisicns shall rem.on in lull 16 NOTICES. WHERE SENT All notices teqmied lo N' given the ( lunpanv and anv slatemenl in willing leipnied to be furnished the ( ompanv shall include the number ol this policy anil shall be acMrcssed to the (Ompanv at ( cnimcnwcalth land litle Insuiance (ompany. light Penn (enter. Philadelphia. Pennsylvania l'»lin CLTA Standard Coverage Policy Form - 1988 B 1156 6 Valid Only If .Schedules A and B Are Attached Policy Issuing Agent: GATEWAY TITLE COMPANY Dedication To Service CORPORATE OFFICE Suite 200 100 N. 1st Street Burbank, CA 91502 ^Ti GATEWAY COUNTY OFFICES: LOS ANGELES 1900 West Olive Avenue Burbank, CA 91506 Phone: (818) 953-2300 ORANGE Suite 100 2100 Orangewood Avenue Orange, CA 92688 Phone: (714) 667-2600 SAN BERNARDINO/RIVERSIDE 930 South Mount Vernon Avenue Colton, CA 92324 Phone: (714) 825-3661 SAN DIEGO Suite 220 1615 Murray Canyon Road San Diego, CA 92108 Phone: ^619) 299-7892 VENTURA Suite 100 1300 Eastman Avenue Ventura. CA 93003 Phone: ^805) 642-0303