Loading...
HomeMy WebLinkAbout; SHEFFLER, RUSSEL & DOROTHY; 5828; Easement., *LcoANG &QUESTED sa 1 ’I :- . ’ CITY OE ‘CARLSBAD 4200 ELM AVENUE CARLSBAD, CALIFORNIA 92008 AND WHEN RECORDED MAIL TO Name r CITY CLERK 1 CITY OF CARLSBAD Street Address 1200 Elm Avenue city b. Carlsbad, Cali forni a 92008 State h _I MAIL TAX STATEMENTS TO Nome r CITY OF CARLSBAD Street 1 1200 ELM AVENUE Address CARLSBAD, CALIFORNIA 92008 City b State i _I - .. 3760 .,,.. , -. _. fILE/PAGE NO. ..- .@ RECORDED REQUEST OF BOOK 1972 TITLE INSURANCE & TRUST JAN 10 9:OO AM OFFICIAL RECORDS HARLEY F. BLOCNl SAN DIEGO COUNTY, CAL RECORDER Ha SPACE ABOVE THIS LINE FOR RECORDER’S USE - Documentary Transfer Tax $ /w ” Computed on full value of property corm: Firm Name I I 7600“ (,J>”d’78 1 Grant Deed “k%”nx TO 405 C (8.67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Russel)’ N. Sheffler and Dorothy K. Sheffler, Trustees of that certain trust created by deeci recorded June 17, 1969, File No. 108168 of Official Records The City of Carl sbad hereby GRANT(S) to the following described real property in the City of Carl shad County of San Diego , State of California: (Attached Exhibit “A”) Dated -& [- /W/’ / , known to me to be the person&whose nam ribed to the within instrument and acknowledged that executed the same. WITNESS my hand and official seal. -~, ~~ . ., \ -i.-uLit:l.J:\ ;7 Signature --/Z” 2 5 .. . ~..... .p; ;J i.,?, ;2 j‘ p ,.J 3 L [ c E:’ ’. . . ” 5 ~z:, ~.,. ~~P,L!...9.R,.~~~~.~~.~ e: 71. -!c,,5. c. .%:-r..w.,n F e xrr 3 c y F ll. c ,,;.- ;;iF;;aP$ // p /-, Fi)ct?r::!,-: :: Prixzi>z/ C:{~:C, sa2 ci?go co. Calif. P $ Gmiissim EjcPiies Jsly 13, 1975 $ Name (Typed or Printed) +&y. -a i I I. r .; n :: G’U’lcB .. ... 2 6 .j *a; zj E: hl Ipppp*gp* seal) Title Order No. Escrow or Loan No.” I : +.? ., :i Y v e c;xx uey <.- ." ->,,,'.,7 ;-; i ' 3'77 EXHIBIT "A" All of that portion of Lot "J" of Rancho Aqua Hedionda, in the City of Carlsbad County of San Diego, State of California, according to map thereof No. 823, filc in the office of the County Recorder of San Diego County, November 16, 1896, described as follows: Beginning at the most northerly corner of Lot 17 of Ocean View Estates as shown on Map thereof No. 5825, filed in the office of the County Recorder of saj Diep County f January 25, 2967.: Thence North 58' 59' 34" East, a distance of 242.89 feet to the TRUE POINT OF BEGINNING of the portion to be described; Thence from said TRUE POINT OF BEGINNING South 23O 20' 06" East, a distant, 200.00 feet; Thence South 65' 20' 06" East, a distance of 103.00 feet; Thence North 66' 39' 54" East, a distance of 115.00 feet; Thence North 33' 41' 38" East, a distance of 62.67 feet: Thence North 10' 32' 29" West, a distance of 139.44 feet Thence North 69' 20' 06" West, a distance of 180.00 feet; Thence South 58' 59' 34" West, a distance of 139.14 feet to the TRUE POINT OF BEGINNING. As shown for convenience sake on Attachment "A" attached hereto and made a part hereof. (164) CERTIFICATE OF ACCEPTANCE - This is to certify that the interest in real property conveyed by the deed or "k:"~<$~$%?d SheffTer and dorothy KfI Dec mber 13 1971 rom 1 er to the City of Carlsbad, California, a political corporation and/or governmental agency, is hereby accepted by the undersigned officer or agent on behalf of the City Council- of the City of Carlsbad, Califor..;,i'~,;_.g'~.,rsuant to authority conferred By:-H.e.s6l;&,;iion #1537 of the City of Car:l$$ad ado$$ed on July 2, 1968, and tA;k,',Grant'e.e .-',. \, ' consents to the record,~-~i.on.-therec.f.,. by i its d.llv ditt-ri30F.fI.; ) -f ,,2 '.&, .j , .. +"- ; .-, c d MZTET E. ADA i~;,~:.ci.ty-;.Elerk'' t. e. ." - - .- .- ' . I . i': . _- DATED: January 6, 1972 - " ..-..- . I- Revised 19Nov71 LVP~ (159-9-8) (16-A) S,CHEDULE B PART ONE @)[.\: ;. ., t.” 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 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, would disclose, and which are not shown by the public records. .. claims or title to water. CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: ally or by reference, 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; constructive knowledge- or notice which may be imputed to the Insured by reason of any public records; (c) “knowledge”: actual knowledge, not, (d) “date”: the effective date; (e) “mortgage”: mortgage, deed of trust, trust deed, or other security instrument; and (f) “insured”: the party or parties named as Insured, and if the owner of the in- debtedness secured by a mortgage sh’own in Schedule B. is named as an Insured in each successor in interest in ownership of Schedule A. the Insured shall include (1) 1 such indebtedness, (2) -any such owner who acquires the estate or interest referred to , or other legal manner in satisfaction of in this policy by foreclosure, trustee’s sale, said indebtedness, and (3) any federal agency or instrumentality wliich is an in- surer or‘ guarantor under an insurance con- said indebtedness, or any part thereof, tract or guaranty insuring or guaranteeing whether named as an insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACOUlSlTlON OF TITLE If an insured owner of the indebtedness secured by a mortgage described in Sched- ule B acquires said estate or interest, or any part thereof, by foreclosure, trustee’s sale, or other legal manner in satisfaction 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- covered by this policy, or any part thereof, ing the indebtedness secured by a mortgage this policy shall continue in force in favor of such Insured, agency or instrumentality. subject to all of the conditions and stipula- tions hereof. 3. EXCLUSIONS FROM THE COVERAGE OF THIS POLICY or -damage by reasons of the following: This policy, does not insure against loss regulation (including but not limited to (a) Any law, ordinance or governmental 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 improvement now or hereafter erected ownership or a reduction in the dimensions on said land, or prohibiting a separation in or area of any lot or parcel of land. , or eminent domain unless notice of the . (b) Governmental rights.of police power exercise of such rights appears in the public records at the date hereof. lines of the land expressly described in (c) Title to any property beyond the Schedule C, or title to streets, roads, ave- such land abuts. qr the right to !naintain nues, lanes, ways or waterways on which therein vaults. tunnels. ramps or any other structure or improvement; or any rigllts or easements therein unless this policy specific. easements .are insured.. except that ‘if the ally provides that such property, rights or land abuts uppn one or more physicnlly ‘open streets or highways this policy insures the ordinary rights of abutting owners for access to one of such streets or highways. unless otherwise escepttd or cxcluded herein. claims against the title as insured or other (d) Defects, liens, encumbrances. adverse matters (1) created, suffered. assumed or damage; or (2) known to the Insured 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. (e) Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value with- .. out knowledge. 4. DEFENSE AND PROSECUTION OF ACTIONS --NOTICE OF CLAIM TO BE GIVEN BY THE INSURED (a) The Company, at its own cost and without undue delay shall provide (1) for consisting of actions or proceedings com- the defense of the Insured in all litigation menced against the Insured. or defenses, restraining orders, or injunctions interposed gage and indebtedness covered by this policy against a foreclosure or sale of the mort- . land; or ‘(2) for such action as may be or a sale of the estate or interest in said appropriate. to establish the title of the gage as insured, which litigation or action estate or interest or the lien of the mort- in any of such events is founded upon an sured against by this policy, and may pur- alleged defect, lien or encumbrance in- sue any litigation to final determination in the court of last resort. ’ ’ (b) In case any such’action or proceed- ing shall be begun, ,or defense interposed, or in case knowledge shall come to the In- sured of any claim of title or interest which is adverse to the title of, the estate or in- “terest or. lien of the mortgage as insuied, which the Company shall or may be liable or which ,might cause loss.or damage for by virtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured by a mortgage covered faith leases or contracts to sell, lease or by this policy, or. if an Insured in good mortgage the same, or if the successful bidder at a foreclosure sale under a mort- gage covered by this policy refuses to pur- chase and in any such event the title to said estate or interest is rejected as un- marketable, the Insured shall notify the Company thereof in writing. If such notice . shall not be given to the Company within ten days of the receipt of process or plead- ings or if the Insured shall not, in writing, romptly notify the Compmy of any de- fect. lien or encumbrance insured against which shall come to the kno\\.ledge of the Insured. (IC if the Insured shall not, in writing. pmnptly notify the Company of any such rejection by reason of claimed un- n1arket;tbiliry of title. then a11 liability of (Conditions ond Stipulations Continued ond Concluded on Last Page of This Policy) c .. I. q @ C - - ” ., w W CARIFORNIA RAND TITLE ASSOCIATION STANDARD COVERAGE POLICY = 195: SCHEDULE A POLICY NOe 8 934363 AMOUNT 8 $449700.00 PREMIUM 8 $238.75 EFFECTIVE DATE8 JANUARY 309 1972 AT 9200 A* Me NAME OF INSURED THE CITY OF CARLSBAD %r TITLE TO THE ESTATE OR INTEREST COVERED BY PHIS POLICY AT 7": DATE HEREOF IS VESTED INg THE CITY OF CARLSBAD 2.0 THE ESTATE OR INTEREST IN THE LAND DESCRIBED OR REFERRED T3 SCHEDULE C COVERED BY THIS POLICY IS A FEE AS TO PARCEL 1, AN EASEMENT MORE PARTICULARLY DESCRIEE AS PARCELS 2 AND 3 SCHEDULE B PHIS POLICY DOES NOT INSURE AGAINST LOSS OR DAMAGE BY REASON OF THE FOLLOWINGB PART ONE ALL MATTERS SET FORTH IN PARAGRAPHS NUMBERED 1 7'0 5 INCLUSIVE da!V INSIDE COVER SHEET OF THIS POLICY UNDER THE HEADING SCHEDULE €3 P! ONE8 PART TWO 934361 PAGE 1 w 0 Bo GENERAL AND SPECIAL COUNTY AND CITY "TAXES FOR THE FH5CAL YEAR8 2971-72 SECOND INSTALLMENT 8 NOW PAYAshE AND MILL BE DUE FEBRUARY 19 1912 2c, A WIGHT OF WAY AND INCIDENTS THERETO FOR PUBLIC ROAD PURPOSE:; GRANTED PO THE COUNTY OF SAN DIEGO BY DEED RECORDED 8 AUGUST 299 1574% IN BOOK 17349 PAGE 279 OF OFFICIAL RECQROS AFFECTS 8 PARCEL 3 SAID HIGHWAY BEING KNOWN AS COUNTY ROAD SURVEY 523 SAID INSTRUMENT ALSO GRANTS THE RIGHT TO EXTEND AND MAfNTAIh DRAINACE SfRUCTtlR€S AND EXCAVATION AND EMBANKMENT SLOPES BEYQND THE LIPIlTS OF SAID RlGk!?' OF WAY WHERE RECUPWED FOR CONSTRUC?X3?: AND MAINTENANCE@ 315 A RECORD Of SURVEY MAP PURPORTIhG TO SHOW VARIOUS BOUNDARIES 1 DIMENSYONS OF SAID LAND, MAP NO0 8 6426 4r3 AN EASEMENT'AFFECTING THE PORTION OF SAID LAND AND FOR THE PURPOSE STATED HEREIN9 AlVD INCIDENTAL PURPOSES FOR a EXCAVATION AND EMBANKMENT SLOPES REQL;TWE2 FQR THE PRESENT AND ULTIMATE CONSTRUCTICh AND MAINTENAhCE OF THE PUBLIC HIGHWAY GRANTED TO 8 COUNTY OF SA& DIEGO RECORDED 8 MARCH 289 1968 REcoR!lEf?05i FILE N~Q 8 51138 AFFECTS 8 THAT PORTION OF SAID LOT '+dlt Sc) DESCRiZED IN DEEES T@ SEEFFLERI LYING EASTERLY CF A LINE DESCRIBED AS FOLkOWSa 934366. PAGE 2 .. w w . BEGINNING AT THE INTERSECTION OF THE SOUTHWESTERLY LINE OF LAND SO DESCRIBED IN DEED TO SXEFFLERe RECORDED IN BOOK 23719 PAGE 91 OF OFFICIAL RECORDS9 WITH A LINE THAT IS PARALLEL Iril1Tt-l AND DISTANT 66 FEET AT' RIGHT ANGLES WESTERLY FROM THE HEREJ&ABOi!K DESCRIBED CENTER LINE8 'THEPiCE NORTHERLY IN A STRAIGHT LINE TO A POINT 35 FEET WESTERLY OF AND QFPGSKTE THE NORTHERLY TERMPkU OF THAT COURSE IN SAID CENTER LINE HAVING A LENGTH OF 1543r06 FEETt, THENCE NORTHWESTERLY TO A POINT ON THE NORTHERLY LINE OF LAND DESCRIBED IN DEED TQ SHEFFLER IN BOOK 48989 PAGE 461 OF OFFICIAL RECORDS9 DISTANT THEREON 4Q FEET SOUTHWESTERLY FROM THE NORTHEAST CORNER THEREOFa 93436% PAGE 3 w w .,I. .. , I .. .. SCHEDULE c I .. . .. .. . THE LANO REFERRED TO IN PHIS POLICY IS SIWATED IN TPIE SYATE OF CALiFORNIAs COUNTY OF SAbL BIEGOa AND IS DESCRIBED'AS..FbLLOWS'$ PARCEL 1s ALL OF THAT PORTION OF LOP 91J" OF RAblCHU AGUA HEDIONQA, IN THE CITY OF CARLSBAD, E& THE CSUNPf OF SAN DIEGO, STATc.'OF OFFICE OF COilNTY iitECQREER OF SAN DSEGO COUNTY, NOVEb'bEk 169 18969 DESCRIBED AS FClLCWSs BEGINNING AT THE MOST NSR?HHERLY CORNE2 OF LOT 17 OF OiEAN VIEW ESTATES AS SHOWN CN MAP PHEREOF &Oe 58259 FILED lfl tHE.'OFF-ICE OF COUNTY REC'ORCER OF SAN DIEGO CO'ikNTYg JANUARY 259.19.6.78 THENCE NORTH 58°59g334'e EAST9 A DISTANCE OF 242.89 FEET fO-fLhE~TRUE SAID TRUE POINT OF BEGINNING S91ITi-i 23*20*06" EAST,:,A:DESfANCE OF 200e03 FEETI THENCE SOUTH 65"20EQ6'F EAST A DISTA~ICE:~O~:~O~~OO THENCE NORTH 33°411'380' EAST9 A DISTANCE OF 62.67 FEE'CZ THENCE NORTH 10b32'29" WEST, P, DISTANCE OF P39e44 FEET; THENCE NORTH 69Q20'Q6'' WEST, A DISTANCE OF P80sQG FEET8 THENCE S0UTH"58°53'34" CALIFQRNIAS ACCORDING TO MAP THEREOF NO. 823, FILED. jN'.iHE .. .~, , POINT OF BEGINNING OF TEE PORTION TQ BE BESCR!8EC$ tHf!NCb FROM FEET! THENCE NWW ~~335994.f' EAST^ A DISTANCE OF ii5.dio FEET~ WEST, A DISTAANCE 6T %39rb4 FEE? TO THE TRUE POINT Of: BE$3tNNiNGb, ~ , . ,. ... i ... , . ... PARCEL 26 .. ..I , . .. '> . . ,, . * 1, AN EASEMENT FOR WATER PURPOSE OF ERECTING, CGNSTRUC?INGb. RECONS7F REPLACING9 REPAIRING9 MAINTAINING9 AND OPERATING A* WATER SYSTLM; SEWERAGE9 DRAPNACEB AbiD UNDERGK3UND Cd'fPLITIES, TOGETHER WITH THE RIGHT 3F IhGRESS AND EGRESS OVEizo ALONG AND DESCgt8ED PARCEL OF LAND8 ALL OF THAT PORTIION OF LOT (IJt) OF RANCHO AGUA HEDIONDAs IN THE CITY OF CARLSBADP Kk THE COUNTY OF SAN DIEGO, STATE OF CALIFORNIA9 ACCORDING YO MAP THEREOF N3. 823, FILCb IN THE OFFICE OF COUNTY RECC21C>Eli? OF SAN DIEGO CrJU/$PY, NOVEf4BER 169 1896, DESCRIBED AS FB3LbClv'Ss BEGINNING AT THE POINT OF INYERSEGTiON OF THE CEluTER LSNE OF JANIS WAY AND THE EASTERLY SUBDIVISI3N BOUNDARY OF OC€Ah VIEW ESTATES AS SHOWN ON MAP PHEREOF NO6 5825s FILEb IN THE OFFICE OF COUNTY RECORDER OF SAN DSEtC! CGUNfYs JANUARY 25,' 1967 THEhCE FROM SAID POINT OF BEGItNNIiziG NORTH 58"59°134" EAST, A 0,IS'TANtE OF 330036 fEEf8 THENCE SOUTH 31gOOc25qo EAST, A DISTAFlee OF 93436'1 PhGE 4 w . 27.00 FEETs THENCE SOUTH 58"59'34" WEST9 A DISTANCE OF 91.11 FEET8 THENCE NORTH 23°20'06" NEST9 A DISTANCE OF 2.02 FEET; THENCE SOUTH %8"5Cds34" NEST9 A DISTANCE OF 242~89 FEET TO THE EAST BOUNDARY OF SAX0 OCEAN VIEW ESTATES8 THENCE NORTH 23°20601j'! TO THE POINT OF BEGINNING OF THE PORTION DESCRIBED, WEST, ALONG SAID EASTERLY B0UNDAR.Y A DISTANCE OF 25.22 FEET PARCEL 38 AN EASEMENT FOR THE FGRPOSE OF INSPALLING9 REPARING, AND MAXNTA:? WATER LINES OVER9 ALONG AND ACROSS THE FOLLONINC DESCRIBED PARCEL OF LAND8 ALL OF THAT PORTION OF SAID LOT cedll Of; RANCHO AGUA HEDIONDA THAT IS WITHIN A STRIP OF LAND 15.00 FEET IN 'dIDTH, BEING 7.59 FEET IN WIDTH ON EACH SIDE OF A CENTE2 LINE DESCRIBED AS FOLLONSS. BEGINNING AT THE MOST NORTHERLY CORNER OF LOT 17 OF OCEAN VIEW OF COUNTY RECORDER OF SAN DIEGO COUNTY9 JANUARY 25, 1967; THENCE NORTH 58'59'34" EAST, A DISTANCE OF 242089 FEET3 THENCE SOUTH 23O20'06" EAST, A DISTANCE OF 20OeOO FEET8 THENCE SOUTH 65020'009 EAST, A DISTANCE OF IO3aGO FEET8 THENCE NORTH 66'39'54'' EAST9 A DISTANCE OF 115eOG FEET8 THENCE NORTH 33041'38" EAST, A DISTANC OF 55000 FEET TO THE TRtrE POINT OF BEGINNING 3F THE CENTER ESTATES AS SHOWN ON MAP THEREOF NO@ 58259 FILED IN THE OFFICE LINE TO BE DESCRIBED8 THENCE FROM SAID TRUE POINT OF BEGINNING SOUTH 68°20'06" EAST A DISTANCE OF 69017 FEET; THENCE SOUTH 23°20'06" EASTP A DISTANCE OF 472e31 FEET9 MORE OR LESS, TO A POINT ON THE NORTHWESTERLY RIGHT BF WAY LINE OF CHESTNUT IN THE OFFICE OF THE COMTY SURVEYOR CF SAID COUNTY8 AND AS AVENUE, 61rQO FEET WIDE9 AS SHOWN 3N ROAD SURVEY NO. 523, FILED SHOWN ON CHESTNUT HEIGHTS9 MAP 53289 FILED IN THE OFFICE 06 COUNTY RECORDER OF SAN @%EGO COUNTYY~ J4NUARY 179 1964. SAID 15.00 FOOT STRIP 12 iG BE LENGTHENED OR SHORTENED SO AS TO TERMINATE ON SAID NORTHWES?ERbY RIGHT OF WAY LINE OF $AID CHESTNUT AVENUE9 AND TO TERMINATE ON THAT CERTAIN LINE AND THE NORTHEASTERLY PRCLONGATIOIV THEREOF I1AV:NG A BEARING OF NORTH 33O41'38" EAST* 934361 PAGE 5 - CLTA 107.8-T (4-10-69) ALTA OR STANDARD COVERAGE ( 6-7 1 ) ” ’ b I! . 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 the 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 not exceed, in the aggregate, the face amount of said policy and costs which the Company is obligated under the conditions and stipulations thereof to pay. This indorsement is made a part of said policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof. Title Insurance and Trust Company BY COIPW SECRETARY . - _. ..* e- -c T i) CONDITIONS AND STIPI the CompanyYn regardhto the subject matter of such action, proceeding or matter shall that failure to notify shall in no case cease and 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 extcnt (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 take any appropriate action under the terms of this policy whether or not it. shall be liable thereunder and shall nor thereby concede liability or waive any provision of this policy. (dl In aII cases where this p01:cy per- mits or requires the Company to prosecute or provide for the defense of any actmn or proceeding. the Insured shall secure to fense in such action or proceeding, and all it the right to so prosecute or provide de- appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Com- pany the Insured shall give the Comp.any all reasonable aid in any such action or proceeding, in effecting settlement, securing ting or' defending such action or proceed- evidence, obtaining witnesses, or prosecu- 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 shall be furnished to the Company within sixty days after such loss or damage shall 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, time hereinbefore specified, shall be a con- clusive bar against maintenance by the In- sured of any action under this policy. 6. OPTION TO PAY, SETTLE OR COMPRO- MISE CLAIMS The Company shall have the option to Pay Or settle or compromise for or in the name of the Insured any claim insured against or ro pay the full amount of this policy, Or, in case loss is claimed under this policy by the owner of the indebtedness 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 the full amount of this policy. togerher which the Company is obligated hereunder with all costs, attorneys' fees and expenses Company hereunder. In the event, after to pay, shall terminate all liability of the notice of claim has been given to the Com- JLATIONS (Continued and Concluded From Re\ pany by the Insured, the Company offers to purchase said indebtedness. rhe owner of such indebtedness shall transfer and assign said indebtedness and the mortgage securing the same to the Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The liability of the Company under the actual loss of the Insured and costs and this policy shall in no case exceed. in all: attorneys' fees which the Company may be obligated hereunder to pay. (b) The Company will pay, in addition to any loss insured against by this policy, 211 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 the Insured with the wriiten authorization of [he Company, be maintainable under this policy (1) if (c) No claim for damages shall arise or the Company, after having received notice not excepted or excluded herein removes of an alleged defect, lien or encumbrance such defect, lien or encumbrance within a or (2) for liability voluntarily assumed by reasonable time after receipt of such notice. the Insured in settling any claim or suit without written consent of the Company. or (3) in the event the title is rejected as encumbrance not excepted or excluded in unmarketable because of a defect, lien or this policy, until there has been a final determination by a court of competent juris- diction sustaining such rejection. cept payments made for costs, attorneys' (d) All payments under this policy. ex- fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Com- pany; provided. however. if the owner of an indebredness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the indebtedness secured by such morr- gage. Payment in full by any person or voluntary satisfaction or release by the In- suled of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mortgage, except as pro- vided in paragraph 2 hereof. (e) When liability has been definitely this policy the loss or damage shall be pay- fixed in accordance wirh the conditions of able within thirty days thereafter. 8. LIABILITY NONCUMULATIVE It is expressly undersrood that the amounr the Company tnay pay under any amount of this policy is reduced by any policy insuring the validity or priority of any morrgage shown or referred to in 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 verse Side of Policy Face) the amount so paid Srbal.1 be cbemed a ment to the Insured under this policy. provisions of this paragraph numbere shall not apply to an Insured owner o in Schedule B unless such Insured acql indebtedness secured by a mortgage sh title to said estate or interest in satisfac of said indebtedness or any part therec 9. SUBROGATION UPON PAYMENT SETTLEMENT Whenever the Company shall have set a claim under this policy. all right of ~ rogation shall vest in the Company affected by any act of the Insured, an shall be subrogated to and be entitlec all rights and remedies which the Ins1 would have had against any person or p erty in respect to such claim had this PC not been issued. If the payment does cover the loss of the Insured, the Corn] shall be subrogated to such rights remedies in the proportion which said ment bears to rhe amount of said 10s: loss should result from any act of the sured, such act shall not void this pol hut the Company, in that event. shall required to pay only that part of any lo insured against hereunder which shall ceed the amount. if any. lost to the C pany by reason of the impairment of right of subrogation. The Insured, if quested by rhe Company. shall transfe the Company all rights and reme against any person or property necessar order to perfect such right of subrogat and shall permit the Company to use name of the Insured in any transactio1 litigation involving such rights or remec If the Insured is the owner of the debtedness secured by a mortgage COV, by this policy, such Insured may releasc substitute the personal liability of debtor or guarantor. or extend or other\ modify the terms of payment, or re11 a portion of the estate or interest from lien of the mortgage. or release any vided such act does not result in any lateral security for the indebtedness. I of priority of the lien of the mortgage 10. POLICY ENTIRE CONTRACT Any accion or actions or rights of ac that the Insured may have or may b against the Company arising out OF status of the lien of the mortgage cow by this policy or the title of the estatc interest insured herein must be based the provisions of this policy. can be waived or changed except by writ No provision or condition of this po endorsed hereon or attached hereto sig by the President, a Vice President, Secretary, an Assistant Secretary or 01 validating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be given the C( pany and any statement in writing requi dressed to it at the office which issued to be furnished the Company shall be policy or to its Home Office, 433 So Spring Street, Los Angeles, California 901 12. THE PREMIUM SPECIFIED IN SCHEDI A IS THE ENTIRE CHARGE FOR TITLE SEAR( TITLE EXAMINATION AND TITLE INSURAN - ." I - .p I -=I-<""-& i -~ -.- +"~F".&" 7"" ." .! .. - .- -. - . ,i- . I .~ a- i .. .~.. .. " - .e- - .. -_ . 1*& - ;- - - ~~~- ~ .-. - " " - S.." __c~ = ~ ,= ~ .. rnR/UN L OT J -RAe't7 AGW MED/UMDA ~ - I .. 1 : my ~"A336 ""I " -c- \ k.. < + 3 ..