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HomeMy WebLinkAbout; ZAHLER, E. EDWARD; 147860; Propertyd e F~ECORDING REQUE 6 . ha e#. * AND WHEN RECORDED MAIL TO r 1 Noms Ci ty of Carlsbad Street 2960 P io Pi co Addrerr Carlsbad, Cal ifornia 0 @:>,3i" ILI78bS !p. (._ll '.; :3:1.-,. ,...- I NWPAGE No .________ RECOfillED REQUEST of SEP 13 9:oQ AI^ '66 Elm IB%URBICI & r$&g GQ FEE 4?5 City h Sta'e L AI Name StrSet Addrerr Ci?y h State I SPACE ABOVE THIS LINE FOR RECORDER'S USE MAIL TAX STATEMENTS TO r 9 1 r ;,~cl/=:r~==;~T;<5 I - ?WE ., li XtFS,, -E Same as above :.> "3 ,.....,,..rr 7,-7;.c",~<...:"-- -~i~'~~%~~~~~~~':~,:~~:~~ 'ST:; ~ ,:''',~-..~~:~~-,,:;[~~,~.~ .".I "-.- ~ ,, .,;,- - ,-,; i,i :i , :-! :: .J'! -.-- i 5 c, ";. ,:"2 '. i ;,i;;/tp!,l.- :.. : L..i,,C ,':, 1 ! ~ , ~ j ; , ;, 1 ; ~ \ :: 7s P.! :.y: ::c 7,: "" .,.- ~~,:.:,z>t-,2c ,<I!:, I/, F:"'v:- .... '.," ii"" ..>, PA E:> E=. :.:> :. 2 .- ,, . 3:. -, I, I r: -T ,. .< , - 5: L.". __ " . . , rS"- r .".. - r-?-,>>-. - 3, - .. ,,/ 7,: t < 5 .,~~=~,~=~~,~~~~~~.~~~-i~~~ '.-Y,LLr .. , . >\ ,:-,~ ,i "I" ...". Y...>. .-._ ~ . f ...__ ~~- -. I . - j.. ... . ' ,. . . .., ,_ , i; -31'. ,. , I-.- .- -, - . .. '. , . . . ,., . . ' :.i 3 - z : - - ._ -. . , ." ~ ". L AFFIX I.R.S. $...?.$!.:70 ...._ 1~ THIS SPACE I Grant Deed I TO 405 C THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY 4 4 1 FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, E. EDWARD ZAHLER hereby GRANT(S) to CITY OF CARLSBAD, CALIFORNIA, a Municipal corporation the following described real property in the C i ty of Car 1 s bad (GJ County of San D i ego , State of California: That portion of Tract 117 of Carlsbad Lands in the City of Carlsbad, County of Sal Diego, State of California, according to Map thereof No. 1661, filed in the officc of the County Recorder of said County on March 1, 1915, more fully described as fol lows: Beginning at a point on the Northerly line of said Tract 117, distant thereon Nor 89" 56' West, 175.00 feet from the Northeast corner of said Tract; thence South 0 04' East, 117.16 feet; thence North 81" 27' 32" East, 42.10 feet; thence South 34 33' East, 123.28 feet to a point in the Northerly line of Elm Street as shown on said Map No. 1661; thence South 34" 33' East 40.00 feet to the center line of Elm Street; thence along said center line North 55".-27', East to the Southerly extensic of the East line of said Tract 117; thence North along said Southerly extension ar along the East line of said Tract, North 0" 52' West 215.47 feet, more or less, tc the Northeast corner of said Tract 117; thence North 89" 56' West 175.00 feet to 1 Point of Beginning. Dated Auqust 16, 1966 T? B . AL-A @& u E. Edward Zahler u STATE OF CALIFORNIA ~~~ COUNT OF Sari Di ego }SS. On 2iZ/ed# Ag 19~ - before me, the under- signed, a dtary Public in and for said State, personally appeared - E. Edward Zahler - ................................................................................................ j- . known to me I 1 to be the person-whose name i s subscribed to the within 10 4Ta+ LALLY S. SCHRADER i instrument and acknowledged that he executed the same. N0iP.W PUSLIC - CALlFORNiA i WITNESS my hand and official seal. ; ""3 b.% :>: ,hZ.-. , :=-: ; \jr .,.. , ,y PRiNCIPAL OFFICE IN e F... -. % ', ' ; si,:....9 '>.,.=-. SAN DIEGO COUNTY 1 Signature 66 + ALJ 2 ,,,,, lln,n,nn ,,,,,,,,,,,,,,,,,, , ,,,,,,,, p ,,,,,,,,, I( ,,,, ~11.1.111.1111.11~~~,,,,,,,~~~~~~~~.~~~~~~~~~~~~~,~~~~~~~~~~~~~~~~~~~~~~~,,,,~,a I 1 CML~ G. SCHRADE~ xotary p'ugl;c 7" ana for the County cf San Cisgo, State OF California hlY ~Qmi<~&are~~br 16, 1968 (This area for official notarial seal) Title Order No. ~~ F,srr--.. ,.- T ,._- AT,. c-273 {e. )a 0 n CI 2 0 K 'D r 4 4 14 w 2 e 7m + ss 0; rs 8F; ng 0 12 rn 4 xu, tn F c+ '0 24 mm Dm 9 =!z r:! '3 U n-I FL ti !XI 5 Cc ' (TC, ru, FU I3 R m U m W 3 (0 R 0 I n 0 3 7 ;: xu, Z-I mm 0; rs grn 0; r? 0-I FL ru) 5 m n m 44 c1- 2EL $ip c1" F $0 s 8 %$ -9 CcCD 0 0 9 2+ z H U R R U I 0 I >, #. - :~. 3 ~ v., .- ;, ..- .~ 0 pyy/.$3g$ c RECORDING REQUESTE .-, .', * f() /.:; &:. \ y.bpi3 ?;LE..'p::";'"" *...,. .f.,Li .dL. c-3 w....I .._. WJd. ~ 7;;~ .> ..> ,->;- :, .- ... .. ~. - ," ..^ .. s. . , ...__. I -, _. . ,-. . ,. .*" 9. :: /. ,, . ., I.. , ,, _.^ '' ,, ,Tic " TITLE INSURANCE AND TRUST COMPA~'' ." . ~ - - .. -.- AND WHEN RECORDED MAIL TO \; :-? I 2 64.6 rPp ii, : * j ; e'> Fjyj g:$ $Ef<l.CS T S$OX 1g(j6 A, s. C;B.tY, 2ECORDEW r 1 lh ..I Name Ci ty of Carl sbad ~ddrels Carlsbad, California OFi'jG!&L R$COf@$ 2960 Pi0 Pic0 SA!$ GiEG:; ~,ggHT'f, c~~if, Street E;:: L NO FEE A SPACE ABOVE THIS LINE FOR RECORDER'S USE - AFFIX $A. R. STAMPS IN THIS SPACE 6 1 TO 402-1 C Quitclaim Deed I k THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY - FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, E. EDWARD ZAHLER hereby REMISE (S) , RELEASE (S) AND FOREVER QUITCLAIM(S) to CITY OF CARLSBAD, CALIFORNIA, a Municipal corporation the following described real property in the c i tY of Carl shad county of San D iego state of California : A1 1 =:hat portion of Tract 117 of Carlsbad Lands, in the City of Carlsbad, County of Sari Diego, State of California, according to Map thereof No. '1661, filed in the offi Of' the County Recorder of San Diego County, March 1, 19'15, described as fol10;qs: Beginning at a point on the Northerly line of said Tract 117, distant thereon North 89" 57' West, 358.58 feet from the Northeasterly corner of said Tract 117; theEce North 89" 57' West, along said Northerly line 485.07 feet to the Northeast- erly corner Of that Certain tract of land conveyed to Augusta Asmus by deed dated October 20, 1922, and recorded in Book 908, page 423, of Deeds; thence South 34" 33' East, along the Easterly 1 ine of said Asmus' land and along the Easterly line Of that certain tract of land conveyed to W. W. Brown and Anna Brown, husband and wife, by deed dated February 17, 1925, and recorded in Book 1065, page 308 of Deeds, 465 feet; thence North 55" 27' East, 399.28 feet to intersection with a 1 ine that bears South 34" 33' East, through the point of beginning; thence North 34" 33' West, 189.55 feet to the point of beginning. EXCEPTING therefrom that portion lying Southwesterly of a line beginning at a point on the North 1 ine of the above described property, 466.58 feet from the Northeasterly corner of said Tract 117, and running South 34" 33' East to a point on the Southeasterly line of the above described property. . ' I / """"""""~""""""""""~ ..................................... I Dated Auqust 16, 1966 E. Edward Zahler fl . I STATE OF CALIFORNIA COUNTY OF Sari Di eqo lss. . on LZ+ l//k 42 /gdd before me, the under- signed, a Notary Public in and for said State, personally appeared ~ - E. Edward Zahler , known to me to be the person-whose namek subscribed to the within instrument and acknowledged that he executed the same. WITNESS my hand and official s Signature for < .-n I:,& c+Wg @j3~ZdF&%it~~) 0; caii5s;si.a -. Ad.. E"-!":" - - I y'i"'.,,i.a., . 111., ,.,, 4 , , .,, ,_.. I, m1 ,,,,, .. ,, , c7., , >,,. ,, ',, -%<0,3>,,.,>,. ,w l:l.ls.iJ.l,,. ..-.,ti ;,<;.;,-;:- j j /+<$A f&?.~f.'.i :- ='."- ._ ~~- z 1,:'"" .. .I 0' I ,!!.C " ci - ~; -r <.;"x .:. >* ,y= ::>z z = $ '""*"~r"."~,,n"mmmn mmmnnmd g j \- .:;g pli',i.','. . . - . ~.i.,ir.!r...., w:,,j!i; E s 4hkb.L s,:;;..5 iN $ ~,.. x. :..** . .., l~",lii"l'llillll'.Illlill(lilllllllll 9 SAX GiE22 cL\t':;;;y - * 0 c n 0 3 n - s1 rim Iv) -I O> 23 mm rs ry! :E 2" nd rv) 5 n ;L m m 44 F* 2c mCD rt 0" F 3 QE: P'g osm B WCD so Y 0 ro d w M, E & *I I n n 0 s r s1 rim zm 09 -I 23 mm $ rm rri 04 rv) 5 - ;L m m -4 Ye + F. $0 w w CP T g g,z i) u b; e 20 go s 0 % r- ,? . i: 5, ro d u3 M, E Bp I i. I .)I '\ _, . . ..- "$ . -~ .. e ' p., ,. ', \ '"". .. \; /. J-.; /' . .- k.: x .- > -- (74' 0 4 w e e "s.- Wb. 17(Q CERTIFICRTE OF ACCEPTANCE ja h. ,- 1 > id I' "". This is to certify that the interest in real property ddd conveyed by c ~,q b, I& ed dated fiu&~s7 16, 066 , from E.. pd&b~'d ZAkLek oration and/or governmental agent;?, is hereby accepted by orde of the City Council. of the Ctty of C?,rlsbad on the /Lgday of b-JQ vgl j c 6 , and .';he grantee consents to recordatldn th&eof .-I 'b its duly authorized officer. c , to the Clty of Carlsbad, a political corp- DATED: & d s'i,& 6 8 /! I CITY OF CARLSBAD 7 BE I. I. CERTIFICATEOF ACCFPTANCE r: ';" <; :. , . ., ' This is to cert>zy that the interest in real property - conveyed by JS I /f,Lfi i ,\rl l)CE.,d dated Au$g~'f /&, /7& k , from E.. EG'lL'h? id Zeh'Lci- ora+vion an?fpq::.ovsrnmental agency, is hq~;.?bg a-oqpted bg order 'be;$he..C'i-ty Council of the Ci5.y of C2,rlsbad on the id @T .day , of C&+ /?bLT and the grantee consents to recordat ther'.o$ by its duly authorized officer. DATED : ,'*,y 2 2 x I,% ". -, to the City of Car'?sba3, a political corp- .x -F . .," ,, .. -, . ~. <. :*.;:-,. ,. . . CITY CF CARLSBAD 4.. . &&??-&& // F &LM5 City Clerk YY" 9- e e r (h!lOd S!yl $0 a6c 30 IUaLUdEd JO Japual JO 1UJLUdEd ‘JSsqJ -Jnd qJnS tSSJUpJJqJpU! p!ES JsPqJJnd 01 uo!Jdo aqJ aheq lleqs duedruo3 JqJ ‘d>r[od s!ql dq ~~JJAOJ J~E~JJOLLI e dq ~~JI~JJS SSaUpJJqJpU! JqJ j0 JJUMO Jql dq dJ![Od S!ql lJpUl1 paLU!e[J S! 5501 aSV3 U! ‘JO ‘dJ![Od S~J JO )unouIz 11113 J~I de,d 01 JO JSUIE~E pamsu! LU!E[J due pa~nsul: aqJ 30 ~&EU aql u! 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" - ~_"..~ " ._ . -~ ~ * - "- . ~~ ~ ~~- - \. 3 b- < - *. {- - i TRACT - 117 .CARLSBAD LANDS *".. . MAP NO. 1661 SEA& C : I IN.=SOo Fr: h ____ ~~ ~___~ ___~ "J " I ,' - .,- " .. -P '.) . TO 1012-1 AB C Standard Coverage Policy-1963 California Land Title Association SCHEDULE A Premium $ I5 5 o 1 Amount $ 2? 975301)3 Date ~~-.~~;;>~~ 1: :Si65 ;i,t ?:[){> L'?Lo:!.PolicyNo. Z!l?I' Effective INSURED c'i Y,,~ r?f c.,?.? 5y>,>r- ti A L ,., <?, .? .L .., , c* L I 3 <.; it i i ,? 0 r;.; 2. (2 5 8, ; :u;j, 1 c I F ;j, I c c x- r' 0 T a: 1 CT). .~ 1. Title to the estate or interest covered by this policy at the date hereof is vested in: C'*:- i)i r Lar-s;;3:2, '7 cqi i zn--.,>; ,. .A Li u'~-~~tJil~~L!, 2 ,,:u;;xcil:s1 ,e c~j;~;~~~~~ti~i~; 2. The estate or interest in the land described or referred to in Schedule C covered by this policy a fee. SCHEDULE B This policy does not insure against loss or damage 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. 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. , - 0 TO 1012-18 Coni. C California Land Title Association Standard Coverage Policy-1963 S C H E D U L E B - (Continued) PART a .- ? COWTIONS AND STIPUL'AOONS 1. DEFINITION OF TERMS The following terms when used .in this policy mean: (a) "land": the land described, specific- ally or by reference, in Schedule C and 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 may be imputed to the Insured by reason of any public records; (d) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument; and as Insured, and if the owner of the in- (f) "insured": the party or parties named debtedness secured by a mortgage shown in Schedule B is named as .an Insured in Schedule A, the Insured shall include (1) such indebtedness, (2) any such owner who each successor in inrerest 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 guaranreeing 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 ule B acquires said estate or interest, or any part thereof, by foreclosure, trustee's sale, or other legal manner in satisfacrion or if a federal agency or instrumentality of said indcbtedness, or any part thereof, acquires said estate or interest, or any part thereof, as a consequence, of an insurance contract or, guaranty lnsurlng or guarantee- ing rlw indchrcdness secured by a mortgage covcrcd by this policy, or any part thereof, 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 This policy dc~cs nor insure against loss or ddnlagc hy redsons of the following: rcgulntiun (including but nor limited to (a) Any law, ordinance or governmental building and zoning ordinances) restricting or regulating or prohibiting the occupancy, usc or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafrer erected on said land. or prohibiting a separation in ownership or a reduction in rhe dimensions or area of any lot or parcel of land. (b) Governmental rights. of police power exercise of such rights appears in the public or emlnent domain unless notice of the records at the date hereof. lines of the land expressly described in (c) Title to any property beyond the Schedule C, or title to streers, roads, ave- nues, lanes, ways or waterways on which (Conditions and Stipl such land abuts, or the right to Inaintain therein vaults, runnels. ramps or any other structure or improvemenr; or any rights or easements therein unless this policy specific- ally provides that such property. rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways this policy insures the ordinary rights of abutting owners for unless otherwise excepted or cxcluded herein. claims against 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 damage; or (2) known to the Insured Claimant either at the dare of this policy or at the date such Insured Claimant ac- quired an esrate or interest insured by this policy and not shown by rhe 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- ro the date hereof. ant; or (4) attaching or created subsequent (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 access to one of such srreers or highways, -NOTICE OF CLAIM TO. BE GIVEN BY THE INSURED without undue delay shall provide (1) for (a) The Company, at its own cost and the defense of the Insured in all litigation consisting of actions or proceedings com- menced against the Insured. or defenses, restraining orders, or injunctions interposed against a foreclosure or sale of the mort- gage and indebtedness covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may be 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 determinarion in the court of Iasr resort. ing shall be begun, or defense interposed, (b) In case any such action or proceed- 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 insuted, or which might cause loss or damage for which the Company shall or may be liable by virrue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracts to sell, lease or mortgage the same, or if the successful gage covered by this policy refuses to pur- bidder at a foreclosure sale under a mort- chase and in any such event the title to said estate or inreresr 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- promptly notify the Compmy of any de- ings or if the Insured shall not, in writing, Jlotions Continued ond Concluded on Lost I fecr. lien or encumbrance insured ag which shall come to the knowledge of Insured. or if the Insured shall not writing, promptly notify the Compan any such rejection by reason of claimed marketability of title. then all liabilit the Company in regard to rhe subject 111 of such actiorl. proceeding or Inarter cease and terminate; provided. how that failure to notify shall in no prejudice the claim of any Insured u the Company shall be actually prejul by such failure and then only to the e. of such prejudice. (c) The Company shall have the at its own cost to institute and pros any action or proceeding or do any ' act which in its opinion may be nece or desirable to establish the title of estate or interest or the lien of the I gage as insured; and the Company rake any appropriate action under the I of this policy whether or not it sha liable thereunder and shall not th concede liability or waive any provisic this policy. (d) In all cases where this polic) mits or requires the Company to pro or provide for the defense of any or proceeding. the Insured shall sect it the right to so prosecute or provic fense in such action or proceeding, ar appeals therein, and permit it ro use, option, the name of rhe Insured for purpose. Whenever requested by the pany the Insured shall give the Cor all reasonable aid in any such acti4 proceeding, in effecting sertlelnenr, sec evidence, obtaining witnesses, or pr ting or' defending such action or pr, ing, and the Company shall reimbur. Insured for any expense so incurred. 5. NOTICE OF LOSS - LIMITATIOI ACTION In addition to the notices required paragraph 4(b), a statement in writ1 any loss or damage for which it is cl the Company is liable under this shall be furnished to the Company have been determined, and no rig sixty days after such loss or damage this policy until thirty days after action shall accrue to the Insured statement shall have been furnishec no recovery shall be had by the 11 commenced thereon within five year under this policy unless action sh: expiration of said thirry day period. to furnish such statement of loss or d or to commence such action with time hereinbefore specified, shall be clusive bar against maintenance by I sured of any action under this polic 6. OPTION TO PAY, SETTLE OR CO MISE CLAIMS The Company shall have the opt pay or settle or compromise for or name of the Insured any claim i against or ro pay the full amount g policy, or, in case loss is claimed und policy by the owner of the indcbl secured by a mortgage covercd h policy, the Company shall have the to purchase said indebtedness; sucl chase, payment or tender of payma 'age of This Policy) " "., ," 2% c . _c .) (6 “ll. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) tlle full amount of this policy, together Xvith all costs, attorneys’ fees and expenses Ivhich the Company is obligated hereunder to pay, shall termina% all liability of the notice of claim has been given to the Com- pany by the Insured, the Company offers to purchase said indebtedness, the 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 this policy shall in no case exceed, in all, attorneys’ fees which the Company may be the actual loss of the Insured and costs and obligated hereunder to pay. to any loss insured against by this policy, (b) The Company will pay, in addition JII 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 written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (1 ) if the 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’ 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 pany; provided. however, if the owner of be furnished to the Satisfaction of the Com- Company hereundrr. In the event, afrer an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of :he insurance afforded extent that such payments reduce the amount of the indebredness secured by such mort- gage. Payment in full by any person or voluntary satisfaction or release by the In- sured 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 fixed in accordance with the conditions of this policy the loss or damage shall be pay- able within thirty days thereafter. 8. LIABILITY NONCUMULATIVE It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under any policy insuring the validity or priority of any mortgage 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 the amount so paid shall be deemed a pay- provisions of this paragraph numbered 8 ment to the Insured under this policy. The shall not apply to an Insured owner of an indebredness secured by a mortgage shown in Schedule B unless such Insured acquires title to said estate or interest in satisfaction of said indebtedness or any part thereof. 9. SUBROGATION UPON PAYMENT OR Whenever the Company shall have settled rogation shall vest in the Company un- a claim under this policy, all right of sub- shall be subrogated to and be entitled to affected by any act of the Insured, and it would have had against any person or prop all rights and remedies which the Insured erty in respect to such claim had this policy cover the loss of the Insured, the Company not been issued. If the payment does not shall be subrogated to such rights and remedies in the proportion which said pay- ment bears to the amount of said loss. If hereunder as to such Insured, except to the SETTLEMENT loss should result from any act of tl sured. such act shall not void this [ hut the Company. in that event. sh required to pay only that part of any insured against llereuncler which sha ceed the amount, if any. lost to the pany by reason of the impairment < right of subrogation. The Insured, quested by the Company, shall trans the Company all rights and ren against any person or property nec‘ess order to pcrfect such right of subrog and shall permit the Company to u: name of the Insured in any transacti litigation involving such rights or rem debtedness secured by a mortgage co If the Insured is the owner of tl by this policy, such Insured may relez debtor or guarantor, or extend or othe substitute the personal liability of a portion of the estate or interest frat modify the terms of payment, or ri lien of the mortgage, or release any lateral security for the indebtedness, of priority of the lien of the morrga6 vided such act does not result in an: 10. POLICY ENTIRE CONTRACT that the Insured may have or may Any action or actions or rights of : agains: the Company arising out 01 status of the lien of the mortgage co by this policy or the title of the esta interest insured herein must be base the provisions of this policy. No provision or condition of this E can be waived or changed except by w endorsed hereon or attached hereto s. by the President, a Vice President Secretary, an Assistant Secretary or validating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be givtn the pany and any statement in writing rrql to be furnished the Company shall bc dressed to it at the office which issued policy or to its Home Office. 433 S Spring Street, Los Angeles 54, Califc 12. THE PREMIUM SPECIFIED IN SCHE A IS THE ENTIRE CHARGE FOR TITLE SEA TITLE EXAMINATION AND TITLE INSURA 8 Title Insurance and Trust Company FOUNDED IN 7893