Loading...
HomeMy WebLinkAbout; GROUP TEN INVESTMENT & DEVELOPMENT CORP.; 249981; Easement'. .- ." '# L * , I .1 RECORCJING REGUESTED 7 B YI). 6 *I ' \+ CITY OF CARLSBAD *ZOO Elm Avenue Carlsbad, California 92008 cp A K2 cp* "rt) I.1 Vcd >I- x.2 Cj c-2 -!:- .-,- FILEIPAGE NO. .- io BOOK 1971 TITLE INSURANCE & TRUST CO. RECORDED REQUEST OF AND WHEN RECORDED MAIL TO r 1 OCT 2 9 9:OOAM '71 Name CITY CLERK OFFlCiAL RECORDS @ SltMI City of Carlsbad SAN DIEGO COUNTY, CALIF. HARLEY F. BLOOM RECORDER Address 1200 Elm Avenue city A Sro'* L Carlsbad, California 92008 J 8 FEE SPACE ABOVE THIS LINE FOR RECORDER'S USE ' MAIL TAX STAlEMtNTS TO r 7 Docuxentary Transter Tax S-AGM~ Homo CITY OF CARLSBAD " Computed on full value o?: property conveyed. Address Street City h 1200 Elm Avenue Carlsbad, California 9200 State L 2 i I KXXXXkk y -z x I Corporation Grant Deed 1 ~ ~ TO 406 CA (7-68) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY a 1 I c I I 'I *f FOR A VALUABLE CONSIDERATIOK, receipt of which is hereby acknowledged. GROUP TEN INVESTMENT AND DEVELOPMENT CORPORATION, a Cal i fornia Corporation a corporation organized under the laws of the state of hereby GRANTS to the City of Carlsbad RO CHAI!CF; Olu' 'J'JI] :: I~CJ:: FOB TIiE l;fj:iqI{:AIJrr 014' the following described real property in the ci tY of Carl shad -dz[>!h J~L [jp- County of. San Diego , State of California: That portion of the northwest quarter of the southwest quarter of Section 32, Township 11 South, Range 4 Ir!est , San Bernardino Meridian, in the City of. Carl s County of San Dieqo , State of Ca? ifcrnia, according to United States' Governmer Survey appi-ovEd, uesci-.-; tiil; as fol ; oi.is : Beginning at the southwest corner of the northwest quarter of the southwe quarter of said Section 32; Thence South 89" 11 I 20" East -along ,the southerly line of said northwest quarter a distance of 353.62 feet, to the TRUE POINT OF BEGINNING of the porti to be described; Thence from said TRUE POINT OF BEGINNING North '24' 15' 57" West, a distar of 79.06 feet; Thence North 65" 36' 24" East, a distance of 206.00 feet; Thence South 20" 28' 50" East, a distance of 171 .OO feet to Grantor's southerly property 1 i ne; Thence North 89" 11' 20" West, a distance of 214.98 feet along Grantor's southerly property 1 ine to the TRUE POINT OF BEGINNING of the portioh dkscribc (As shown for convenience sake on Attachment "A", attached hereto and mac a part hereof. (13-A) In '#itness Whereof7 said corporation has caused its corporate name and seal to be affixed hereto and this il rnent to be executed by it. President and ' Secr thereunto duly authorized. Dated: /?&kcA /I, /97/ STATE OF' C;\LIFORSIA 1 COENTY, OF qp AMGE I ss- Q~ JIfftC6~. /3 /47/ before me. the under- - signed, a Sotary i'ul)Iic in and for said '.ta!e. per-nnally appeared Secl G e Le i-q e f &de known /4~~//~~~ 2 ~pse to me o be ;he President, and ,_." . ~~ ".+.L i-.. ,: :.:,:,, ,... ;_ .:2 ..' .' ' I ,,,,, ~, , ,,,,,,, ,,.. ., ,. ,/ , . ., ,, , 'I ' """""': : /p: '?..$.> . i i '."... I, , .- , .~ . within Instrument. known to me to be t!le pt:rsons a.ho esecuted the within In~trument on Lel~c!i c~f the Corporation tlterein named. and i '\:. . ; xknowleclged IO me that such Corporation executed the within Inctru ment ~~ur-uant to its f~y-laws resolution RITSES3 my l,Ir$)dfs .- :-. -.r ,..";,:x - _.. _, "_. . ".. ./.\. .. ..:,, ... . . .-. .___ known to me to be - /.,. .- ~ .... .*" ,- <*- > >,.* . _. . - :.'.' :. : '..i .. . ,.- 3 . .) ,I ~ ., ." _- Secretary of the Corporation that executed the - I .. .. . , . . , ;. -. ., , i. \, .~ ., . . -. . . . -. , -.. - I - X\ '. ; ,,,,( ,./.. .. .. .I).. ....'"' -,. __. ~. ,. , , . F - . .-, ." " , . ,<.,.. . i-, .. I, :.,, .-.-,-...;.. ; ,... :..-: %... , .. ' ,' ., Si, ,. ,I., . .i::,..,.. _Is ... I "- .,- . ., . .. mature I Kame (Typed or hinted) (This area for dllcizl mlarial wall i Title Order ~o.-$&iLLZZL"- --pEccrow or T~an No ."__ IQ z PA 85’ O/J - ’N.2 \ v’JQ//JYS 3A47 Js-3/4 e e- .- c6> 9 e 3 93 c3..; , 0 (0 @l-. e .e anxcHwm 4 a .;GROUP T€N /NV€S;TM€NT CDk - ..-- R€.s&Pvo/e SITE- (73 79) 1 -. 7 -z / fl..”. .I . _” f 1. . b m m!=- ne%&%. 333 f. i -?? CERTIFICATE OF ACCEPTANCE " This is to certify that the interest i31 real property conveyed by the deed or grant dated March 11 , 1971 from a Cal ifornla Corporation to the City of Carlsbad, Calyfornia, governmental agency, is hereby accepted by the undersigned officer 02- agent on behalf of the City Council of the City of Carlsbad, California, pursuant to authority conferred by X''esol.$t.iDoil #1537 of the City of Car-.~.sh,ad."adopt,ed ,consents to the recordation' thereof by Group Ten Investment and Development, -a political corporation and/or . on July 2, 1968, and the:'grantee .'; ,. r its duly aut orized offig .. -pa, &/&$ f ' &w/&,&z%. 0. LA&# E T E . ADA qT< S*,F;'' v C ' . i.~t'y:,..% I i e r k .. ., .. DA TED : o&sA& ,g 7 /?7/- -I. / ” TO 1012 FC-DP (7-71) California Land Title Association Standard Coverage Policy Form Copyright 1963 POLICY OF TITLE INSURANCE SCHEDULE B PART ONE ,;:” J ,. <; R (2 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the public records. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS 3. EXCLUSIONS FROM THE COVERAGE OF out knowledge. The following terms when used in this policy mean: ally or by referenc-e, in Schedule C and (a) “land”: the land described, specific- improvements affixed thereto which by law constitute real property; (,b) , ”public records”: those records whlch Impart constructive notice of matters relating to said land; (c) “knowledge”: actual knowledge, not constructive knowledge or notice which of any public records; may be imputed to the Insured by reason (d) “date”: the effective date; trust deed, or other security instrument; and (e) “mortgage”: mortgage, deed of trust, as Insured, and if the owner of the in- (f) “insured”: the party or parties named debtedness secured by a mortgage shown in Schedule A, the Insured shall include (1) Schedule B is named as an Insured in such indebtedness, (2) any such owner who each successor in interest in ownership of acquires the estate or interest referred to in this policy by foreclosure, trustee‘s sale, or other legal manner in satisfaction of said indebtedness, and (3) any federal agency or instrumentality which is an in- surer or guarantor under an insurance con- tract or guaranty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an insured herein or not. subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TITLE secured by a mortgage described in Sched- If an insured owner of the indebtedness sale, or other legal manner in satisfaction any part thereof, by foreclosure, trustee’s of said indebtedness, or any part thereof. or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance contract or guaranty insuring or guarantee- ing the indebtedness secured by a mortgage covered by this policy, or any part thereof, this policy shall continue in force in favor subject to all of the conditions and stipula- of such Insured, agency or instrumentality, tions hereof. ule B acquires said estate or interest, or (Conditions ond StiF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any impravenlent now or hereafter erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (b) Governmental rights.of police power or eminent domain unless notice of the records at the date hereof. exercise of such rights appears in the public (c) Title to any property beyond the lines of the land expressly described in Schedule C, or title to streets, roads, ave- nues, lanes, ways or waterways on which such land abuts. or the right to !maintain structure or improvement; or any rights or therein vaults. tunnels, ramps or any other ally provides that such property, rights or easements therein unless this policy specific- easements are insured. except that if the open streets or highways this policy insures land abuts upon one or more physically the ordinary rights of abutting owners for access to one of such streets or highways. unless otherwise excepted or cxcluded herein. clalms againsr the title as insured or other (d) Defects, liens, encumbrances. adverse matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or Claimant either at the date of this policy or at the date such Insured Claimant ac- quired an estate or interest insured by this policy and not shown by the public records. unless disclosure thereof in writing by the Insured shall have been made to the Com- pany prior to the date of this policy: or (3) resulting in no loss to the Insured Claim- ant; or (4) attaching or created subsequent to the date hereof. have been sustained if the Insured were a (e) Loss or damage which would not purchaser or encumbrancer for value with- damage; or (2) known ro the Insured )ulotions Continued and Concluded on Last F - 4. DEFENSE AlND PROSECUTION OF -NOTICE OF CLAIM TO BE G THE INSURED without undue delay shall providc (a) The Company, at its own the defense of the Insured in all consisting of actions or proceedi menced against the Insured. or restraining orders, or injunctions ir against a foreclosure or sale of t gage and indebtedness covered by tl or a sale of the estate or interest land; or (2) for such action as appropriate to establish the title gage as insured, which litigation , estate or interest or the lien of t in any of such events is founded alleged defect, lien or encumbr sured against by this policy, and I sue any litigation to final determi the court of last resort. ing shall be begun, or defense in (b) In case any such action or or in case knowledge shall come t sured of any claim of title or interc is adverse to the title of the esta terest or lien of the mortgage as or which might cause loss or dal. which the Company shall or may I by virtue of this policy, or if the shall in good faith contract to sell debtedness secured by a mortgage by this poliq, or, if an Insured faith leases or contracts to sell, bidder at a foreclosure sale under mortgage the same, or if the SI gage covered by this policy refuses chase and in any such event the said estate or interest is rejected marketable, the Insured shall no shall not be given to the Compan! Company thereof in writing. If suc ten days of the receipt of process c ings or if the Insured shall not, in fect. lien or encumbrance insured romptly notify the Compmy of which shall come to the knowledgr Insured. or if the Insured shall writing. promptly notify the Comr marketabiliry #of title. then all liab any such rejection by reason of clair loge of This Policy) % >* e w e CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY = 196 SCHEDULE A POLICY NOe 8 906183 PLANT ACCOUNT1 ARBS NOSo 37 AND 89 t4MuJN-T 8 $14+500r 00 PREMIUM 8 $195025 EFFECTIVE DATEa OCJOBER 29, 1971 AT 9800 Ar Me NAME OF INSURED CITY OF CARLSBAD I.@ TITLE TO THE ESTATE OR INTEREST COVERED BY THIS POhfCY AT’ 7 DATE HEREOF IS VESTED IN8 CITY OF CARLSBAD 26 THE ESTATE OR INTEREST IN THE LAND DESCRIBED OR REFERRED TC SCHEDULE C COVERED BY THIS POLICY IS A FEE AS TO PARCEL li AN EASEMENT MORE PARTICULARLY DESCRIE AS TO PARCEL 2 SCHEDULE B THIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASBN OF THE FOLLOW INGe PART ONE ALL MATTERS SET FORTH IN PARAGRAPHS NUMBERED 1 TO 5 INCLUSIVE Or INSIDE COVER SHEET OF THIS POLICY UNDER THE HEADIIVG SCHEDULE B F ONE e PART TWO 906183 PAGE 1 m e le GENERAL AND SPECIAL COUNTY AND CITY TAXES FOR THE FISCAL YEAR8 1971-72 A LIEN# NOT YET PAYABLE 2~ AN EASEMENT AFFECTING THE PORTION OF SAID LAND AND FOR THE: PURPOSE, STATED HEREIN, AND INCIDENTAL PURPOSES FOR 8 INGRESS AND EGRESS9 UTILITY PURPOSES GRANTED TO 8 COMMERCIAL CENTERS, fNCas RECORDED 8 AUGUST 199 1957 RECORDERflS FILE NOo 8 125666 AFFECTS 8 A STRIP OF LAND 10.00 FEET hr'ITDT* LYING WESTERLY OF AND ADJACENT AND PARALLEL TO THE FOLLOWING DESCRIBED LINE8 COMMENCING AT THE SOUTHWEST CORNER OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 32, THENCE EAST ALONG THE SOUTH LINE OF SAID NORTHWEST QUARTER OF THE SOUTHWEST QUART A DISTANCE OF 990r00 FEET -15 CHAINS-s SAID POINT BEING THE TRUE POINT OF BECINNItdGt THENCE NORTH ON A LINE PARALLEL WITH AND 990a00 FEET, DISTANT EAST FROM THE WEST LINE OF SAID SECTI 92 A DISTANCE OF 440.00 FEET TO A POINT0 NOTE8 SAID EASEMENT CONTAINS THE FOLLOWING RECITAL; 'I THIS EASEMENT IS GRANTED UPON THE CONDITION THAT ANY 'JU'ATER PIPE LINES INSTALLED ACROSS SAID EASEMENT SHALL BE OF NO EXPENSE TO THE GRANTOR AND IN THE EVENT THE GRANTOR CONhECTS ON TO ANY SAID PIPE LINE THERE SHALL BE NO CONNECTION FEE FOR THE PRIVILEGE OF CONNECTING TO SAID PIPE LINE NOW OR ANYTIME IN THE FUTURE@" 3r AN EASEMENT AFFECTING THE PORTION OF SAID LAND AND FOR THE PURPOSE STATED HEREIN9 AND INCIDENTAL PURPOSES FOR 8 INGRESS AND EGRESS FOR ROAD PURPOSES RESERVED BY g CARL, Le BERNHARDT AND LLEWELLYN Ro BERN!- HUSBAND AND WIFE RECORDED 8 AUGUST 25, 1961 RECORDERCS FILE NOet 148549 AFFECTS 8 A STRIP OF LAND 20000 FEET IN WIDTH9 THE WESTERLY AND NORTHERLY AND EASTERLY LINES THEREOF BEING DESCRIBED AS FGtbQb 906183 PAGE 2 0 0 BECINNZNG AT A POTNT ON THE WESTERLY LINE OF THE ABOVE DESCRIBEC T3IE NOilTHWEST CORNER THEREOF? THENCE ALONG THE BOUNDARY THEREQF LAND8 DISTANT THEREON SOUTH CO56020" WEST 55080 FEET FROM i'4ORTH 6Q56'20" EAST 55eOO FEET! SOilTH 89Ql.2'20'' EAST 181e50 FEET! SOUTH Oa56'20" WEST 240000 FEET AND SOUTH 89412'50" EAST 50~00 FEET TO THE EASTERLY TERMINUS OF THE HEREIN GESCRIBEC LINE@ 4a AN ACTION IN THE SUPERIOR COURTS SAN DIEGC) COUNTY AS DISCLO: BY A LIS PENDENS RECORDED a SEPTEMBER 149 1970 UNDER RECOIIDER!S FILE EN7 1 PLED 8 KENNETH Ro DABBS AND CAROLYK be RABBSP NO. 166065 HUSBAND AND WIFE VSa LLEWEiiYN Ro BERNHARET ET AL CASE NOc 8 1324 NATURE OF ACTION1 TO REQUIRE SPECIFIC PERFORMANCE OF AN AGREEf 906183 PAGE 3 0 SCHEDULE C THE LAND REFERRED 9-0 IN THIS POLICY IS SIPUAVED IN THE STATE QF CALIFORNIA$ COU~TY OF SAN DIE GO^^ AND IS DESCRIBED AS FOLLOWS~ PARCEL I$ THAT PORTION OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 32s TOWNSHIP 11 SOUTH, RANGE 4 WEST, SAN BERNARDINB MERIDXANP IN THE CITY OF CARLSBAD, IN THE COUNTY OF SAN DKEGOP STATE OF CALIFORNIA9 ACCORDING TO OFFICIAL PLAT THEREGF BESCRIB A5 FOLLOWS a BEGINNING AT THE SOUTHWEST CORNER OF THE NORTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 328 THENCE SOUTH 89* 11'20" EAST, ALONG THE SOUTHERLY LINE OF SAID QUARTER QUARTER 353.62 FEET TO THE TRUE POINT OF BEGINNING! THENCE NORTH 24"15' WEST, 19e06 FEETI THENCE NORTH 65O36'24" EASPv 206.00 FEET8 THENCE SGUTH 20028'50" EAST, 171.00 FEET TO THE SOUTHERLY LINE SAID SOUTHERLY LINE 214r98 FEET TO THE TRUE POINT OF BEGINNINGa OF SASD QUARTER QUARTER; THENCE NORTH 8901l620" WEST ALONG PARCEL 28 AN EASEMENT FOR THE PURPOSE OF ERECTING9 CONSTRUCTING9 RECONSTR REPLACING9 REPAIRING, MAINTAINING, AND OPERATING WAPER SYSTEMs SEWERAGE9 DRAINAGE9 POWER LINE, EXCAVATION, AND/OR EMBANKMENT FACILITIES AND APPURTENANCES THERETO, TOGETHER WITH THE RIGHT OF SNGRESS AND EGRESS TO AND FROM SAID RIGHT OF WAY EY PRACTXGA ROUTE OR ROUTES9 TOGETHER WITH THE RIGHT TO CLEAR AND KEEP CLEAR SAID RIGHT OF WAY FROM BUILDINGS9 STRUCTURES9 TREES9 BRUSH9 AND ANY SIMILAR SURFACE OR SUBSURFACE ENCROACHMENT WHICH MAY INTERFERE WITH REASONABLE AND PROPER USE OF THE RIGHP OF WAY EASEMENT TOGETHER WITH THE RIGHT TO EXTEND AND MAXNTAXN DRAINAGE STRUCTURES AND EXCAVATION AND EMBANKMENT SLOPES BEYOhD THE LIMITS OF SAID RIGHT OF WAY WHERE REQUIRED FOR CONSTRUCTION AND MAINTENANCE OVER THOSE PORTIONS OF THE NORTHWEST QUARTER OF THE SOUTHNEST QUARTER OF SECTION 32, TOWNSHIP 11 SOC~THII RANGE 4 WEST9 SAN BERPJARDINO MERIDIAN, IN ?HE CITY OF CARLSBARr IN THE COUNTY OF SAN DIEGOa STATE OF CALIFORNEAB LYING WITHIN PARCELS As 6 AND C FOLLOWING^ PARCEL As A STRIP OF LAND 15.00 FEET IN WIDTH HAVING A CENTER LINE THAT 6s 7050 FEET SOUTHERLY OF AND CONCENTRIC WITH THE FOLLOWING 906183 PAGE 4 W DESCRIBED LINES BEGINNING AT A POINT ON THE SOUTH LINE OF SAID NORTHNEST QUARTER OF THE SOUTHWEST QUARTER DISTANT THEREON SOUTH 88°49614'0 EAST -RECORD SOUTH 89'12'20" EAST- A DISTANCE OF 6431e29 FEET FROM THE SOUTHWEST CORNER THEREOF9 SAID POINT BEING ALSO A POINT ON A 850800 FOOT RADIUS CURVE, CONCAVE SOUTHEASTERLY A RADIAL BEARS NORTH 31°581071f WEST TO SAID POINT THENCE NORTHEASTERLY ALONG SAID CURVE THROUGH AN ANGLE OF 25O13@18" A DISTANCE OF IN 3EED TO GRQUP TEN INVESTMENT AND DEVELOPMENT CORPORATIONB OF SAID COUNTY9 A RADIAL BEARS NORTH 6O44)49" WEST TO SAID 374~17 FEET TO A POINT ON THE EASTERLY LINE OF LAND DESCRIBED RECOIIDED APRIL 9, 1970 AS FILE NO. 61768 OF OFFICIAL RECORDS POINT. SAID P5r00 FOOT STRIP OF LAND IS TO BE EXTENDED OR SHORTENED TO BEGIN ON THE SOUTH LINE OF SAID QUARTER QUARTER AND TO END ON THE EAST LINE OF SAID GROUP TEN INVESTMENT AND DEVELOPMENT CORPORATION LAND. PARCEL B8 THE WESTERLY 15.00 FEET OF THE SOUTHERLY 680000 FEET AND THE SOUTHERLY 15.00 FEET OF THE WESTERLY 303894 FEET OF SAID NORTHWE QUARTER OF THE SOUTHWEST QUARTER OF SAID SECTION 329 EXCEPTING THEREFROM THAT PORTION THEREOF THAT LIES WITHIN PARCEL 6 FOLLOh'J SAID WESTERLY 15800 FEET SHALL TERMINATE ON THE NORTH IN THE NORTHERLY LINE OF LAND DESCRIBED IN DEED TO GROUP TEN INVESTMEN1 AND DEVELOPMENT CORPORATION, RECORDED APRIL 90 1970 AS FILE NOo 61768 OF OFFICIAL RECORDS OF SAID COUNTY. PARCEL f8 BEGINNING AT THE SOUTHWEST CORNER OF SAID NORfHWEST QUARTER OF SAID SOUTHWEST QUARTER OF SAID SECTION 32; THENCE SOUTH 89011'20'1 EAST ALONG THE SOUTHERLY LINE OF SAID QUARTER QUARTER 303.94 FEET TO THE TRUE POINT OF BEGINNING1 THENCE CONTINUING ALONG SAID SOUTHERLY LINE SOUTH 89'11'20" EAST, 49r68 FEET8 THENCE NORTH 24'15'57'' WEST9 79.06 FEETt THENCE SOUTH 65O36'24'' WEST9 45eOO FEET! THENCE SOUTH 24'15'57" EAST8 57~98 FEET TO THE TRUE POINT OF BEGINNING@ 906183 PAGE 5 CLTA 107.8 (4-10-69) (5-69 1 a ALTA OR STANDARD COVERAGE INDORSEMENT ATTACHED TO POLICY NO. ISSUED BY Title Insurance and Trust Company The following exclusion from coverage under this policy is added to Paragraph 3 of tl Conditions and Stipulations: “Consumer credit protection, truth in lending or similar law.” The total liability of the Company under said policy and any indorsements therein shall nl exceed, in the aggregate, the face amount of said policy and costs which the Company is obligatc under the conditions and stipulations thereof to pay. This indorsement is made a part of said policy and is subject to the schedules, conditions a1 stipulations therein, except as modified by the provisions hereof. Title Insurance and Trust Company u H/m BY SECRETAI \\ '\ j /I/ 7y\, I \ j +, k.-40 -0cL- c.ac*, "&,,* i.2 I i 1 .: ! Li 111 :I . A :.>\$ ,. \\, \ \\ .I / l&yk"&39$ i .A I CJ, 1 I ,\. \ I \'. i i ?\ ; i I i h I 1 '\ / -LC. c, L5 ' i ',\ i \\' 7 *; ,L-r 4. - ' e! k, l, :> hJ.'/O G . - -.a’ e CONDITIONS AND STIPUI the Company in regard to the subject matter of such actipn., pr‘oceeding or matter shall that failure to notify shall in no case cease ana terminate; provided, however. prejudice the claim of any Insured unless the Company shall be actually prejudiced of such prejudice. by such failure and then only to the exrcnt (c) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the mort- gage as insured; and the Company may rake any appropriate action under the terms of this policy whether or not it. shall be liable thereunder and shall not thereby concede liability or waive any provision of this policy. (d) In all cases where this policy per- mits or requires the Company to prosecute or provide for the defense of any action or proceeding. the Insured shall secure to fense in such action or proceeding, and all it the right to so prosecute or provide de- option, the name of the Insured for such appeals therein, and permit it to use. at its pany the Insured shall give the Comp.any purpose. Whenever requested by the Com- proceeding, in effecting settlement, securing all reasonable aid in any such action or evidence, obtaining witnesses, or prosecu- ting or defending such action or proceed- ing, and the Company shall reimburse the Insured for any expense so incurred. 5. NOTICE OF LOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 4(b), a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy sixty days after such loss or damage shall shall be furnished to the Company within have been determined. and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shall be had by the Insured under this policy unless action shall be commenced thereon within five years after expiration of said thirty day period. Failure Or to commence such action within the to furnish such statement of loss or damage, clusive bar against maintenance by the In- time hereinbefore specified, shall be a con- sured of any action under this policy. 6. OPTION TO PAY, SETTLE OR COMPRO- The Company shall have the option to Pay or setrk or compromise for or in the name of the Insured any claim insured against or to pay the full amount of this Policy, or, in case loss is claimed under this policy by the owner of the indebtedncrss secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such pur- chase, payment or tender of payment of [!le full. amount of this policy, together which the Company is obligated hereunder with all costs, attorneys’ fees and expenses to pay, shall terminaR all liability of the Company hereunder. In the event, after notice of claim has been given to the Corn- MISE CLAIMS . . .c .b ATIONS (Continued and Concluded From Reverse Side of Policy Face) pany by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign the same to the Company upon payment of said indebtedness and the mortgage securing the purchase price. 7. PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed, in all: the actual loss of the Insured and costs and attorneys’ fees which the Company may be obligated hereunder to pay. .. to any loss insured against by this policy, (b) The Company will pay, in addition all costs imposed upon the Insured in liti- gation carried on by the Company for the Insured. and all costs and attorneys’ fees in litigation carried on by rhe Insured with the written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (1) if :he Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, lien or encumbrance within a reasonable time after receipt of such notice. or (2) for liability voluntarily assumed by the Insured in settling any claim or suit without written consent of the Company. or (3) in the event the title is rejected as unmarketable because of a defect, lien or this policy, until there has been a final encumbrance not excepted or excluded in determination by a court of competent juris- diction sustaining such rejection. (d) All payments under this policy. ex- cept payments made for costs, attorneys’ of the insurance pro tanto and no payment fees and expenses, shall reduce the amount shall be made without producing this policy for endorsement of such payment unless case proof of such loss or destruction shall the policy be lost or destroyed, in which be furnished to the satisfaction of the Com- pany; provided. however. if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such pavments shall not reduce ~ro tke amaubt so paid shall bc provisions of rhis paragral ment to the Insured under shall not apply to an InsuI indebredness secured by a I in Schedule B unless such title to said estate or intere of said indebtedness or any 9. SUBROGATION UPON SETTLEMENT a claim under this policy. Whenever the Company s rogation shall vest in thc affected by any act of the shall be subrogated to anc all rights and remedies wl would have had against any erty in respect to such clain not been issued. If the p: cover the loss of the Insurc shall be subrogated to s remedies in the proportion ment bears to the amount loss should resulr from an sured. such act shall not but the Company. in that required to pay only that F ceed the amount. if any. I insured against hereunder pany by reason of the irr right of subrogation. The quested by the Company, the Company all rights against any person or pro^ order to perfect such righ, and shall permit the Con name of the Insured in ai litigation involving such ri debtedness secured by a I If the Insured is the c by this policy, such Insure debtor or guarantor. or ex) substitute the personal modify the terms of pay a portion of the estate or lien of the mortgage, or lateral security for the il vided such act does nor I of priority of the lien of tanto the amount of the insurance afforhed 10 paLlcy ENT~RE CONTI hereunder as to such Insured, except to the extent that such payments reduce the amount of the indebtedness secured by such mort- gage. Payment in full by any person or voluntary satisfaction or release by the In- sul-ed of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indebtedness . - . . - -. - . -. . . . . . - - - . . . . Any action or actions o that the Insured may hay against the Company ari status of the lien of the , by this policy or the title interest insured herein m the provisions of this pol ~. secured by such mortgage, except as pro- No provision or conditi vided in ParagraDh 2 hereof. can be waived or changed (e) When liability has been definitely fixed in accordance with the conditions of able within thirty days thereafter. this policy the loss or damage shall be pay- 8. LlABlLllY NONCUMULATIVE . I. It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under any any mortgage shown or referred to in policy insuring the validity or priority of Schedule B hereof or any mortgage here- after executed by the Insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and endorsed hereon or attach by the President, a Vic Secretary. an Assistant S validating officer of the C 11. NOTICES, WHERE SEN All notices required to t pany and any statement in to be furnished the Coml dressed to it at the office policy or to its Home C Spring Street, Los Angelc 12. THE PREMIUM SPEClFl A IS THE ENTIRE CHARGE I TITLE EXAMINATION AND