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HomeMy WebLinkAbout1970-08-10 - Grant WACHS, HARRIETT ;THEN RECORDED MAIL so 19254 6'b�K 938gPaGElg�' City Attorney ' s Office `�4 City of Huntington Beach 0 19 RECORDER At 01QUEST OF Post Office Box 190 FIRST AMER. TITLE INS. CO. Huntington Beach, California 92648 IN OFFICIAL RECORDS OF FREE ORANGE COUNTY, CALIF. W g 8:00 0 AUG 31 1970 RECEIVER r S DEED -'1,: .r J.WYLIE CARLYLE,Couniy Recorder NO TAX STAMP REQUIRED Q � HARRY E. WESTOVER, Court appointed Receiver in connec- tion with the matter entitled JOHN M. HIGHSTONE, Plaintiff, vs. HARRIET WACHS, et al, Defendants, Orange County Superior Court No. 114 678, in consideration of the sum of Two Hundred Nineteen Thousand Two Hundred Three and 95/100 Dollars ($219,203.95) , does hereby grant and convey to the CITY OF HUNTINGTON BEACH, all right, title and interest of said Receiver and of the parties named in the action referred to herein, in and to the hereinafter described real property: The SW quarter of the NW quarter of the NE quarter of Section 34, Township 5 South, Range 11 West, in the Rancho La Bolso Chica, as shown on a Map recorded in Book 51, page 13 of Miscellaneous Maps, Records of Orange County, California, excepting therefrom the I� South 100 feet of the East 150 feet. Also excepting therefrom the West 17 feet as con- veyed to Southern California Edison Company by deed recorded December 19, 1958, in Book a 4521, page 150 of Official Records. Also excepting all oil, gas, minerals and other ` hydrocarbon substances by whatever name known now or hereafter, in, on or under that part of the herein described land lying below a plane, 500 feet below the surface of the said land, but without any right of entry or right to mine, drill for or conduct any other operations on or from the surface of said land on that part above a plane of 500 feet below said surface for the purpose of exploting and developing, producing, removing or marketing of any of said substances, together with the exclusive right to execute any and all leases for the purpose of extracting or recovering said oil, or other substances, as reserved in the deed from First Western Bank and Trust Company recorded May 31, 1957, in Book 3926, page 84 of Official Records. This Deed is made pursuant to the order confirming sale of real property in connection with the matter entitled, JOHN M. HIGHSTONE, Plaintiff, vs. HARRIET WACHS, et al, Defendants, Orange County Superior Court Action No. 114 678, entered on the 3rd day E G 9389 PAGE of August, 1970, a certified copy of which order shall be re- corded contemporaneously herewith in the Office of the County Recorder, County of Orange, State of California, to which reference is hereby made. IN WITNESS WHEREOF, this instrument is executed this day of August, 1970. HARRY E. WESTjDVER, Receiver STATE OF CALIFORNIA SS. COUNTY OF ORANGE On August d� , 1970, before me, the undersigned a Notary Public in and for said County and State, personally appeared Harry E. Westover, known to me to be the person whose name is subscribed to the within instrument and acknowledged. that he executed the same as Receiver in the matter entitled, JOHN M. HIGHSTONE, Plaintiff, vs. HARRIET WACHS, et al, Defendants, Orange County Superior Court Action No. 114678. WITNESS my hand and official seal. -ary Public in and said County and State (This document is solely for the official business of they .,...- City of Huntington Beach, as X JEAN E. contemplated under Government ' ` NPTARY PUULIC . CALIFq Code Section 6103 and should a � F '`y�'PAL are+ce , � , � w,c� cQur�r be recorded free of charge . ) ... .......... JEAN E. KAHN My Commission Expires Oct, 23, jg4 -2- 0 ------------- ------------ ------------ ------------ Cy � ARRw� R }w��2j>>J2llVER Receiver \ ........... .. ...... . ............. .......... ... ...........� ......... ... . . ....... ............. ........... i........... ..........I .. ... ....... . ................ ..... . ... .. .... .... ............ ............ ...... . . .. ............. MOVIE ... ........ .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... .......... ..................... ............... .......................... .1'.1...".�l*,.*""..�,�*.Iii�.".**iiiiiil*,*,*,*,*,*,*,*1*1*1*1*1*1*I I I I I I I I I I I I I I. ............. ... ....... .................. .. ... . .... . . .... .. . . .... .. . ... ... ...... ... ... .. ...... ......... ... .. ... ...... ....... .... ..... ... ... ..... .............. ......... ....... .... . . ... ... . . ... .... . .............................. ... ... . ............... . ..... . . ... ............. { ; t WHEN RECORDED M TOct CQi �i� AT Rat w R. City Attorney T s ice OFF► ►AL RE+C�AW; txf City of Huntington Beach GRANGE CcUNTY, tALIF. ` Post Office Box 190 Huntington Beach., California 92648 . 4A4�i AUG 31 1970Lo �� o !.WYOE CAQ ItF,CouutY Rerder a .1 a4.. sbi9 1 HARRY E. WESTOVER 2 Receiver 23521 Paseo de Valencia G�.3 3 Suite 102A, IS7C Laguna Hills , California '92653 4 t Telephone (714) 830-0150ri 4 5 71 81 IN THE SUPERIOR COURT OF THE STATE OF CALIFORNIA an 9 FOR THE COUNTY OF ORANGE` aw �an'10 p <N.., 11i JOHN M. HIGHSTONE, NO. 114 678 4h `12 Plaintiff, 41 13 vs. ) ORDER CONFIRMING SALE .1 ) OF REAL PROPERTY k Wo 14I HARRIET WACHS, et al, ) ► as ) '. 151 Defendants. ) d 16 = 17 The verified return of sale and petition of ao 18 HARRY E. WESTOVER, as Receiver appointed in the above-'entit ; K m Q 19 1" matter by Judgment entered as Number` 115 on page 328ton < g 201 March 28, 1966, for confirmation of sale of real property, , z0 I u^ 21i hereafter described, came on regularly for hearing on June 12- o ; 22 i 1970, and the Cou t' finds : �,. Due and legal notice of the hearing on the return and ' 24 [ petition has been given for the period and in the manner I k � 1 I 25 ! required by law relative to private sales of real property in 26 ; estates of deceased persons. , 27 , Pursuant to said Judgment entered March� 28, 1966, � 28 entitled Interlocutory Judgment» Sale of Real` Property Peti,tiQDort 29 as sole referee, sold at private sale, after electing porsuant ' 30 to said Judgment, to sell at: private sale, the real property . . 31 described., below to the City of Huntington Beach for the "total ':. �2 sum of Two Hundred Nineteen Thousand Two Hundred Three and (This document solely- for the oica al business of the sh City of Huntington Beach, as contOmFlated under Government Code Section 6103 and should be recorded free' of'charge,, ) ��f t 9389 790 I 1 'i 95/100 Dollars ($219,203.95) cash in lawful money of the 2('1 United States of America, this being the }iighest and best bid I, 31: made , with the entire purchase price to be paid on confirmation I I 4I', of sale by this Court and close of escrow. 5 The sale was made subject to current taxes, covenants, i . 61 conditions, restrictions , reservations , rights , rights of way 7 and easements of record. Taxes are to be prorated as of the 81I' date of close of escrow. All escrow charges and the costs of i a 91 any required title policy are to be paid by purchaser. Costs Nq Va^ l0I'' of recordation and other costs of sale shall be prorated between' asa < a 111 buyer and seller in accordance with the usual custom existing �:. 26i 12i in Orange County, California. The City of Huntington Beach, J0 13 as purchaser, is to handle all required escrow without charge Fo € W g = v 14 to the seller. N 15 The sale was legally made and fairly conducted and V 4 16 the Court finds that it is to the advantage and best interest > W a 17 _ of the undivided owners of said property that said real N`aw 18i property hereinafter described be sold upon the terms and C W I mm° 19f conditions set forth herein. i o 20 , The 'real property has been appraised within one year >u� 21 of the date of sale , and the sum offered at said sale is the g= = 22I amount of the appraised value. The Court finds that such sum 4 i Nn P 23i bid is not disproportionate to thetrue value of the property 2411 sold. 25 A sum exceeding the bid by at least ten percent (10%) 26 on the first $10,000.00 bid and five percent (5%) on the amount i 271 of the bid in excess of $10,000.00, exclusive of the expenses of � 281 a new sale, cannot be obtained. 29 � That no real estate broker was employed to secure the r 301, purchasers of the property. 31 , The 'owners of said real property and their respective _ 32 interests, as determined by the Judgment entered March 2.8, 1966, -2- i i i 2 :s 9 89 791 r lI! and entitled Interlocutory Judgment Sale of Real Property, are © 2'' SEYMOUR ALBAN and REVA ALBAN as to an undivided one-fifth (1/5) 3 ' interest in said property as their community property; SYDELLE DK41 ALBAN as to an undivided one-fifth (1/5) interest in said property I' 5 ; as her sole and separate property ; ARTHUR ALBAN and ESTHER ALBAN ok 6 '; j as to an undivided one-tenth (1/10) interest in said property as i 7i their community property; WILLIAM ALBAN as to an undivided one- 0 8 � tenth (1/10) interest in said property ; LEONARD WACHS and ap �K9 �' HARRIET WACHS as to an undivided one-fifth (1/5) interest in I Sol' 10 said real property as their community property; ROSE JAFFE, also W <N CON 0�'; known as ROSE JAFFE FELLER, (hereinafter called ROSE JAFFE), as <n 12 ; to an undivided one-fifth (1/5) interest in said property subject I' Utlo 13 to rights granted to HARRIET WACHS pursuant to the terms of the poF 14 judgment entered in the above-captioned matter in Judgment Book 1 N u 15 101, page 10, on December 8, 1964. OBN 161 The "litigation report" attached as Exhibit "A" to the wz 17 >a: Return of Sale of Real. Property and Petition for Order Confirming f. 00 a Q o 18 ' Sale , filed herein on May 22 , 1970, sets forth the "owners" of m - mo 19 � a the said real property, and their respective interests', as follows : :56 uo0 201 LEONARD V. WACHS, as to any interest he may have in said land, yA21i his interest being inferred by his joinder in the deed of trust O J O i _ hereinafter described, and in HARRIET WACHS , a married woman, as to 6 i q0F 23 the remainder of anundivided two`-fifths (2/5 's) interest; REVA " 24 ALBAN, a married woman, as to an undivided one-fifth (1/5) interest 25 ESTHER ALBAN, a married woman, as to an undivided one-tenth (1/10) 26 interest; WILLIAM S . ALBAN (Esther Alban' s son) as to an undivided 27 � one-tenth (1/10) interest; and SYDELLE ALBAN, a married woman, as to an undivided one-fifth (1/5) interest. Said "title" to the 29 property in question, as shown on said litigation report, is 30 subject to the following exception: 1 32 fllilll I I' 3 I I M p i j i i 1i "A Deed of Trust, covering an undivided 1/5th interest, to secure an indebtedness of $27 ,000.00 2 ' and any other amounts payable under the terms thereof, recorded December 22 , 1965 in Book 7781, 3 page 870 of Official Records. ji 4�; Dated: May 16, 1963 Trustor: Harriet Wachs and Leonard V. 5 1' Wachs Trustee : Bank of America National Trust 6 ' and Savings Association, a national bankinf association 7I', Beneficiary: Rose J. Jaffee . ' 8 ' The real property in question consists of 9.41 acres on Edwards Street, south of Talbert Avenue , in the City of as ' Huntington Beach, County of Orange, State of California, more SON ; e 11 particularly described as follows : _un 121 The SW quarter of the NW quarter of the tl NE quarter. of Section. 34, Township 5 South, i 0 0 13 �� Range 11 West, in the Rancho La Bolso Chica, I 1- 01 i as shown on a Map recorded in Book 51, page W ,� oY 14 ' 13 of Miscellaneous Maps Records of Orange 3 County, California . excepting therefrom the � N 15 South 100 feet of the East 150 feet. Also U a 16 excepting therefrom the West 17 feet as O N l conveyed to Southern California Edison Company W by deed recorded December 19 , 1958, in Book W z 17 4521, page 150 of Official Records. Also Oo 18 excepting all oil, gas , minerals and other H �N hydrocarbon substances by whatever name known to w a° V2 now or hereafter, in, on or under than part � N n 3 Wmo 19 of the herein described land lying below a ai - 0 1 plane, 500 feet below the surface of the said o ; 20I land, but without any right of entry or right Z = to mine, drill for or conduct any other U 21 operations on or from the -surface of said land 09� I on that part above a plane of 500 feet below Z �2 said surface for the purpose of exploiting and " _ d = developing, producing, removing or marketing NoP 231 of any of said substances , together with the N3 I' exclusive right to execute any and all' leases i 241 for the purpose of extracting or recovering 25 said oil', or other substances , as reserved in the deed from First Western Bank and Trust 26 Company recorded.May 31, 1957, in Book 3926, page 84 of Official Records. 27 The Court finds that the Stipulation attached as 281 Exhibit "E" to the Return of Sale of Real Property, and Petition `!- 29 for Order Confirming Sale, filed herein on May 22, 1970 is of no present force and effect and does not limit the Referee , or 31I this Court, in effecting or confirming a sale of the property 32 in question except for a 'price in the amount of $300,000,.00 -4- u 9380 ,-,,SUE793 s 1 ! or more . That HARRIET WACHS has acquire] the one-fifth (1/5) 31:, interest of ROSE JAFFE and, thus , owns an undivided two-fifths 4 (2/5 's) interest in said property. 6 �' The Court further finds that the obligation owing 6 ' ROSE JAFFE by HARRIET WACHS , as determined in the matter Y 71; entitled Wachs vs . Jaffe , Orange County Superior Court Action i 8 ' Number 163 ,268, is in the amount of Eight Thousand Two Hundred p 91, One and 96/100 Dollars ($8,201. 96) as of January 10, 1970, Gay 101 plus Nine Hundred Fifty Dollars ($950. 00) for attorneys fees , a <a _^ 11 plus One Hundred Sixty-five and 30/100 Dollars ($165. 30) for =un 12j' court costs , and that said sum of Eight Thousand Two Hundred u � a 13 ' One and 96/100 .Dollars ($8 ,201. 96) bears interest at the rate of W O 141 seven percent (7%) per annum from January 10, 1970 until paid W.3a ° I U N u 15 ! in full, which interest is calculated to be in the sum of CbN 161 $1. 5730 per day from said date. Mm 17 a The Court further finds that the Referee should be P0 Q 18 instructed to take all necessary steps to cause a release of W °' r �0 19 the lien, in the form of a deed of trust , and the payment of 1 20 ,1 Co ro said Judgment, by authorizing sufficient monies disbursed out _ b. , ; ci_ 21 '` of escrow (in the event said deed of trust and Judgment have not os = 22 been released and satisfied prier to the close of escrow) to pay N 23 in full the obligation of the Judgment which obligation is set N 291 forth above, when said escrow has sufficient documentation to 25 obtain, upon recordation thereof, tree release of said lien and 26 the satisfaction of said Judgment, which documentation shall 27 include the note, i defd of trust, a properly executed Request r� 28 } for Reconveyance , and a 'satisfaction of Judgment in connection 29 with the Wachs vs. Jaffe matter, Orange County Superior Court 30 'Action Number 163,268. 1 31 32 5 9389 PAGE 794 1 IT IS ORDERED AND ADJUDGED that : 2'! 1. The sale so made to the City of Buntington Beach 3 for the property herein described is confirmed. Upon execution 4 and delivery of a referee 's deed, in proper form, to the 5 purchaser and upon recording of the same , the purchaser is 6 ! authorized and directed to disburse the net proceeds of ,sale 7 as hereinafter provided. 8 2 . Taxes shall be prorated as of the date of close I a 9 of escrow. Examination of title, any title insurance policies as Kan 10 ; required by the purchaser and the cost of escrow shall be paid W t N Z_ by purchaser. All other costs of escrow, if any, shall be „ 3 X�� 12I' prorated between seller and purchaser in accordance with the 8. 0 13 ' usual custom existing in Orange County , California. i ° a W -a o d 14 If, as of the date of the close of escrow, the 4N 15 amount of the taxes are not known, then the purchaser is V a 161 00 I authorized and directed to pay to WESTOVER & CURREY, TRUST W 'a 17 ACCOUNT, twice the amount of last fiscal year's secured 00 a 181 property tax bill for the property in question. Westover & Wa roo19f Currey is directed to retain said proceeds in trust and to pay I Jow 20l therefrom to the City of Huntington Beach their share of the Z I y < � 21 > u- taxes prorated as of the date of close of escrow when the same' w '71io tit are ascertainable , and to pay the remaining proceeds in a S9 23 p i accordance either with a court order to be hereafter rendered N 24 herein relative to these proceeds , or if there is no such court 25 order, as follows : Three-fifths (3/5) thereof to the ALBAN 26 interest in accordance with 'their individual interest therein a 27 and two-fifths (2/5) thereof to HARRIET WACHS . I 28 3. The Referee is instructed and empowered <to- necessary steps to release the lien of the deed of trust herein- 30 above described in favor of ROSE JAFFE and to satisfy the Judg- 31 ment in favor of ROSE- JAFFE entered June .8 in Book 434 ,page 471, 32 by authorizing reservation in and payment through escrow from the -6 1 purchase price an amount sufficient to satisfy, said Judgment in 2l Orange' County Superior Court Action Nuuii> r i63 ; L6�? in the amount he'reinabov.e set forth and to secure the release nE the 4i Tien of the deed of trust . The amount is to ht distributed to ROSE- JAFFE' on .the . close Hof escrow ,upon on tt e. Cite,: c t 41 t� !nx P 6 'I �:. .-B'each.:bein furnished with cuff `'d` nt documec�tatic .i tct c>>btain li, upon recordation thereof the rel6ase. of said lien and. ..the 81 satisfac.tion of said Judgment,l'which ocume.ntation. shall include Na 91 the -promissory note.:`in question,.`: the deed c.f trust, ' a...properly N N r Itn 10 executed :Requesa foraRe,conveyance , ' and;'a .satisfaction of judgment in connec,fion oK with, Orange County: Superior Court Action No. 12 ! 1563 ,268. ! \' OC !` - o f Z 13 : 4. The :Refe.ree is .instructed `to cause the check or -� O 0.C d. W o f 141 draft' for the 'net. proceeds of sale ,(.except for the .,amount 3M0 j �.�N " ordered payable to. WESTOVER & CURREY , TRUST ACCOUNT., for the U� I 16I purposes of the payment' ofsecured property taxes owing by the se"ller-.s itp until the crate of: the_ clew. of es.cresw) t ��_.be made a - _ - _. payable to the-,County ,clerk.; County .'of 'Ora'nge 1 and �tio remit said` 3 ~ N 19 draft °.or check to this Court forthwith, upon the r,%eceipt thereof : mr N 0... �.o ; 20 1, and to present`.therewith a complete: :accounting as to the cost of j M. 21 sale and -all expenditures made by the Referee relative fo. said W = O sa.le i m. x 23 e N:n 5. The ,.determination of the Re teree s compensation " 24 for services rendered' for effecting the sale of the within 25 described property ,is deferred anti' t_hc: , time of the hearing on i 261 the accounting. i 271 6. Said .payments through escrow t satisfy the payment - 728` � f o Vthe-- "ROSE- zJAFFE-' note" and a-=rea.ease f_-:the-_hien -o.f_ tFie deed 291 of trust, (both referred to herein) shall be chargeable to the 30:' two-fifths. (2/5 's) interest of HARRIET WACHS in the gross 31 -7- i I 1 !, purchase price of TWO HUNDRED NINETEEN THOUSAND TWO HUNDRED 2 THREE AND 95/100th DOLLARS 219,203. 95) f AUG 3 3 DATED 451 Jude of the Superior. Court 6 7 { A 8 + �fit?t�fi. r* ) A (r,9, � T ,, { t , 10 ELI »c, s�^ 12 � 0 x 131 � Ztl 14 ' it a & 15 ; Cd m 16 ) W;z 17 �a ` O w4O� tlmo 19 prop �' io 20 ' > uN' 21 I o � z 22 _ { a = �s1 2.3 " 24 25 26 d 271, i ,. i, 28 ' 29 30 y 31 ! j 32 j' r � —$— L i i I g y �4 Fotm No. 1084.2 American Land Title Association Owner's Policy—Standard Form 8-1462 and CLTA Standard Coverage Policy Form Copyright 1963 SCHEDULE A Total Fee for Title Search, Examination and Title Insurance $---393 62_____,______ Amount $ 219,203.95 Policy No, OR-1082149 Effective Date August 31, 1970 at 8:00 A. M. Insured CI"IrY OF HUNTIUGTON REACH. j 1. Title to the estate or interest covered by this policy at the date hereof is vested in: CITY OF HUNTINGTON BEACH. i 2. The estate or interest in the land described or referred to in Schedule C covered by this policy is: A Fee. Page 2 A M E R 1 ` ti 9 4 'L First American Title Insurance Company HOME OFFICE: 421 NORTH MAIN STREET, SANTA ANA, CALIFORNIA 92701 • (AREA 714) 547-68 fJ ►M., 1 JAMES E. O'KEEFE V Regional Vice President Q Insurance Policy No. NOTE: THIS CONTAINS IMPORTANT INFORMATION ABOUT THE REAL ESTATE TRANSACTION YOU HAVE JUST COMPLETED. READ IT AND RETAIN IT WITH YOUR OTHER VALUABLE PAPERS PERTAINING TO THE PROPERTY. The new home or other real estate you have purchased is pro- tected with a policy of title insurance issued by First American Title Insurance Company. This is your guarantee of ownership. We have assigned the above number to your records to assure prompt processing of future title orders involving the property. If you sell or obtain a loan on this property within two years, FIRST AMERICAN TITLE WILL REDUCE THE USUAL POLICY RATE 20 per cent. To obtain this SAVINGS, it will be necessary for you to inform the real estate agent and/or escrow holder handling further trans- actions that such policies of title insurance as are required should be issued by First American Title, and you must request the escrow officer to forward this letter to us with the order for title insurance. We appreciate the opportunity of serving you and will be glad to assist you in any way, remembering that PROTECTION OF YOUR PROPERTY IS YOUR FIRST CONSIDERATION --- AND OURS. r James E. O'Keefe Regional Vice President California Land Title Association i Standard Coverage Policy Form A M E Copyright 1963 S R J C POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance Company FIRST AMERICAN TITLE INSURANCE COMPANY, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A, hereby insures the parties named as Insured in Schedule A,the heirs,devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation,against loss or damage not exceeding the amount stated in Schedule A, together with costs, attorney"s fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: 1. Any defect in or lien or encumbrance on the title to the estate or interest covered hereby in the land described or referred to in Schedule C, existing at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. Unmarketability of such title; or 3. Any defect in the execution of any mortgage shown in Schedule B securing an indebtedness, the owner of which is named as Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the estate or interest referred to in this policy; or 4. Priority over said mortgage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in Schedule B or in the Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority. all subject, however, to the Conditions and Stipulations hereto annexed, which Conditions and Stipulations, together with Schedules A, B, and C are hereby made a part of this policy. In Witness Whereof, First American Title Insurance Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, on the date shown in Schedule A. First American Title Insurance Company F� BY PRESIDENT AT SECRETARY s California Land Title Association Standard Coverage Policy Form Copyright 1963 Form 1084-3 SCHEDULE B OR-1082149 This policy does not insure against loss or damage by reason of the matters shown in parts one and two following: Part One: I. 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. S. Unpatented mininq claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. Part Two: 1. General and Special Taxes for the fiscal year 1970-1971, a lien not yet payable. Code Area 4-007, A. P. No. 15-012-01. 2. The Reservation for roads, railroads and ditches of a strip of land 15 feet wide, along, adjoining and each side of the Quarter Section lines, as contained in the deed from Alfred Robinson, Trustee, recorded March 23, 1885 in Book 137, page 203 of Deeds, records of Los Angeles County, California. 3. An Easement over the Westerly 3 feet of said land for street and highway purposes, as conveyed to the City of Huntington Beach by deed recorded April 4, 1960 in Book 5176, page 452 of Official Records. Page 3 Form No. 1056-4 oR-io82149 All Policy Forms SCHEDULE C The land referred to in this policy is situated in the State of California , County of Orange, City of Huntington Beach and is described as follows: The Southwest quarter of the Northwest quarter of the Northeast quarter of Section 34, Township 5 South, Range 11 West in the Rancho La Bolsa Chica, as shown on a Map recorded in Book 51, page 13 of Miscellaneous Maps, records of Orange County, California. Excepting therefrom the South 100 feet of the East 150 feet. Also excepting therefrom the West 17 feet, as conveyed to Southern California Edison Company by deed recorded December 19, 1958 in Book 4521, page 150 of Official Records. .Also excepting all oil, gas, minerals and other hydrocarbon substances by whatever name known now or hereafter in, on or under that part of the herein described land lying below a plane 500 feet below the surface of said land but without any right of entry or right to mine, drill for or conduct any other operations on or from the surface of said land on that part above a plane 500 feet below said surface for the purpose of exploiting and develop- ing, producing, removing or marketing of any of said substances, together with the exclusive right to execute any and all leases for the purpose of extracting or recovering said oil or other substances, as reserved in the deed from First Western Bank and Trust Company, recorded May 31, 1957 in Book 3926, page 84 of Official Records. LJH:GR Page 4 SW. 114, NW. 114, NE. 114, SEr- 34, T, 55.,A l/W. 159 - Q) 02 02 W V • q2rp� M' = Wes aAKE CIRCLE _ ACT J, t i .. •e � O O .. W Mo 23 °U �o n � o IAAE i � s7 so' ✓ ! C.1 � xi a I2 c c 2 _ FRESHWATER CIRCLE w 2a 26 27 28 29 30 31 3 E 33 _ * r• � 2s 1 �s � 0 � � � © Q � g � o R • 1 14 • Is ✓ i ✓ ✓! .00 t✓ t O �� a3 +L ac = al.2 O 39 O 37 O 33 ©= n l.Il AG Z z Z as , l,'1.•! a .e.• � -4 _ CL£ARWATER C/RCL E a3 S + Z w low ' ✓� J ;! i 48 a9 O O Q S354 3O'r O 4T t +{ l NO. 5518 -'� .. i FA it em. = EOWAROS STREET i rtG s+s.�i 110 - of MARCH /9" TRAcr M0. 5518 M.M. Z51- I9,2o,I/,ZZ NOTE ASSESSORS StOCK ASSESSORS MAP & LOT NUA48fRS 800K 159 PAGE pI SHOWN IN CtRCtES COUNTY Of ORANGE ,.-ID E California Lend TitleAssociation Standard Coverage Policy Form Copyright 1%3 + Form 1064 CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy upon an alleged defect,lien or encumbrance insured (c) No claim for damages shall arise or be mean: against by this policy,and may pursue any litigation maintainable under this policy (1) if the Company, (a) 'land": the land described, specifically or to final determination in the court of last}esort, after having received notice of an alleged defect,lien by reference,in Schedule C and improvements affixed (b) In case any such action or proceeding shall or encumbrance not excepted or excluded herein re- thereto which by law constitute real property; be begun, or defense interposed, or in case knowl- moves such defect, lien or encumbrance within a (b) "public records": those records which im- edge shall come to the Insured of any claims of title reasonable time after receipt of such notice, or (2) part constructive notice of matters relating to said or interest which is adverse to the title of the estate for liability voluntarily assumed by the Insured in land; or interest or lien of the mortgage as insured, or settling any claim or suit without written consent of (c) "knowledge": actual knowledge, not con- which might cause loss or damage for which the the Company,or (3)in the event the title is rejected structive knowledge or notice which may be imlruted Company shall or may be liable by virtue of this as unmarketable because of a defect,lien or encum- to the Insured by reason of any public records; policy,or if the Insured shall in good faith contract brance not excepted or excluded in this policy,until (d) "date": the effective date; to sell the indebtedness secured by a mortgage cov- there has been a final determination by a court of (e) "mortgage": mortgage,deed of trust,trust ered by this policy, or, if an Insured in good faith competent jurisdiction sustaining such rejection. deed,or other security instruments;and leases or contracts to sell,lease or mortgage the same, (d) All payments under this policy,except pay- (f) 'insured the party or parties named as or if the successful bidder at a foreclosure sale under ments made for costs, attorneys' fees and expenses; Insured,and if the owner of the indebtedness secured a mortgage covered by this policy refuses to purchase shall reduce the amount of the insurance pro tanto by a mortgage shown in Schedule B is named as an and in any such event the title to said estate or and no payment shall be made without producing Insured in Schedule A,the Insured shall include (1) interest is rejected as unmarketable,the Insured shall this policy for endorsement of such payment unless each successor in interest in ownership of such in- notify the Company thereof in writing.If such notice the policy be lost or destroyed, in which case proof debtedness, (2) any such owner who acquires the shall not be given to the Company within ten days of such loss or destruction shall be furnished to the estate or interest referred to in this policy by fore- of the receipt of process or pleadings or if the Insured satisfaction of the Company; provided, however, if closure,trustee's sale,or other legal manner in satis- shall not, in writing, promptly notify the Company the owner of an indebtedness secured by a mortgage faction of said indebtedness, and (3) any federal of any defect, lien or encumbrance insured against shown in Schedule B is an Insured herein then such agency or instrumentality which is an insurer or guar- which shall come to the knowledge of the Insured, payments shall not reduce pro tanto the amount of antor under an insurance contract or guaranty insur- or if the Insured shall not,in writing,promptly notify the insurance afforded hereunder as to such Insured, ing or guaranteeing said indebtedness, or any part the Company of any such rejection by reason of except to the extent that such payments reduce the thereof,whether named as an Insured herein or not, claimed unmarketability of title, then all liability of amount of the indebtedness secured by such mort- subject otherwise to the provisions hereof. the Company in regard to the subject matter of such gage. Payment in full by any person or voluntary action, proceeding or matter shall cease and termi- satisfaction or release by the Insured of a mortgage 2. BENEFITS AFTER ACQUISITION OF TITLE pate; provided, however, that failure to notify shall covered by this policy shall terminate all liability of in no case prejudice the claim of any Insured unless the Company to the insured owner of the indebted- If an insured owner of the indebtedness secured by the Company shall be actually prejudiced by such ness secured by such mortgage, except as provided a mortgage described in Schedule B acquires said failure and then only to the extent of such prejudice. in paragraph 2 hereof. estate or interest,or any part thereof,by foreclosure, (c) The Company shall have the right at its (e) When liability has been definitely fixed in trustee's sale, or other legal manner in satisfaction own cost to institute and prosecute any action or accordance with the conditions of this policy the loss of said indebtedness, or any part thereof, or if a proceeding or do any other act which in its opinion or damage shall be payable within thirty days there- federal agency or instrumentality acquires said estate may be necessary or desirable to establish the title after. or interest, or any part thereof, as a consequence of of the estate or interest or the lien of the mortgage an insurance contract or guaranty insuring or guaran- as insured; and the Company may take any appro- 8. LIABILITY NONCUMULATIVE teeing the indebtedness secured by a mortgage cov- priate action under the terms of this policy whether It is expressly understood that the amount of this ered by this policy, or any part thereof, this policy or not it shall be liable thereunder and shall not policy is reduced by any amount the Company may shall continue in force in favor of such Insured, thereby concede liability or waive any provision of pay under any policy insuring the validity or pri- agency or instrumentality, subject to all of the con- this policy. ority of any mortgage shown or referred to in Sched- ditions and stipulations hereof. (d) In all cases where this policy permits or ule B hereof or any mortgage hereafter executed by requires the Company to prosecute or provide for the Insured which is a charge or lien on the estate 3. EXCLUSIONS FROM THE COVERAGE the defense of any action or proceeding,the Insured or interest described or referred to in Schedule A, OF THIS POLICY shall secure to it the right to so prosecute or provide and the amount so paid shall be deemed a payment defense in such action or proceeding,and all appeals to the Insured under this policy. The provisions of This policy does not insure against loss or damage therein,and permit it to use,at its option,the name this paragraph numbered 8 shall not apply to an by reason of the following: of the Insured for such purpose.Whenever requested Insured owner of an indebtedness secured by a mort- (a) Any law,ordinance or governmental regu- by the Company the Insured shall give the Company gage shown in Schedule B unless such Insured ac- lation (including but not limited to building and all reasonable aid in any such action or proceeding, quires title to said estate or interest in satisfaction zoning ordinances) restricting or regulating or pro- in effecting settlement, securing evidence, obtaining of said indebtedness or any part thereof. hibiting the occupancy,use or enjoyment of the land, witnesses, or prosecuting or defending such action 9. SUBROGATION UPON PAYMENT or regulating the character, dimensions, or location or proceeding,and the Company shall reimburse the of any improvement now or hereafter erected on said Insured for any expense so incurred. OR SETTLEMENT land, or prohibiting a separation in ownership or a Whenever the Company shall have settled a claim reduction in the dimensions or area of any lot or S. NOTICE OF LOSS—LIMITATION OF ACTION under this policy, all right of subrogation shall vest parcel of land. in the Company unaffected by any act of the Insured, (b) Governmental rights of police power or In addition to the notices required under para- and it shall be subrogated to and be entitled to all eminent domain unless notice of the exercise of such graph 4(b), a statement in writing of any loss or rights and remedies which the Insured would have rights appears in the public records at the date damage for which it is claimed the Company is liable had against any person or property in respect to such hereof. under this policy shall be furnished to the Company claim had this policy not been issued.If the payment (c) Title to any property beyond the lines of within sixty days after such loss or damage shall have does not cover the loss of the Insured,the Company the land expressly described in Schedule C, or title been determined and no right of action shall accrue shall be subrogated to such rights and remedies in to streets, roads, avenues,lanes, ways or waterways to the Insured under this policy until thirty days the proportion which said payment bears to the on which such land abuts, or the right to maintain after such statement shall have been furnished, and amount of said loss. If loss should result from any therein vaults,tunnels,ramps or any other structure no recovery shall be had by the Insured under this act of the Insured,such act shall not void this policy, or improvement; or any rights or easements therein policy unless action shall be commenced thereon but the Company,in that event,shall be required to unless this policy specifically provides that such within five years after expiration of said thirty day pay only that part of any losses insured against here- property,rights or easements are insured,except that period. Failure to furnish such statement of loss or under which shall exceed the amount,if any,lost to if the land abuts upon one or more physically open damage,or to commence such action within the time the Company by reason of the impairment of the streets or highways this policy insures the ordinary hereinbefore specified, shall be a conclusive bar right of subrogation.The Insured,if requested by the rights of abutting owners for access to one of such against maintenance by the Insured of any action Company, shall transfer to the Company all rights streets or highways, unless otherwise excepted or under this policy. and remedies against any person or property neces- excluded herein, sary in order to perfect such right of subrogation,and (d) Defects, liens, encumbrances, adverse 6, OPTION TO PAY, SETTLE OR shall permit the Company to use the name of the claims against the title as insured or other matters COMPROMISE CLAIMS Insured in any transaction or litigation involving (1) created, suffered, assumed or agreed to by the such rights or remedies. Insured claiming loss or damage; or (2) known to The Company shall have the option to pay or settle If the Insured is the owner of the indebtedness the Insured Claimant either at the date of this policy or compromise for or in the name of the Insured any secured by a mortgage covered by this policy, such or at the date such Insured Claimant acquired an claim insured against or to pay the full amount of Insured may release or substitute the personal Bab& estate or interest insured by this policy and not shown this policy, or, in case loss is claimed under this ity of any debtor or guarantor,or extend or otherwise by the public records, unless disclosure thereof in policy by the owner of the indebtedness secured by modify the terms of payment,or release a portion of writing by the Insured shall have been made to the a mortgage covered by this policy,the Company shall the estate or interest from the lien of the mortgage, Company prior to the date of this policy; or (3) have the option to purchase said indebtedness; such or release any collateral security for the indebted- resulting in no loss to the Insured Claimant; or (4) purchase, payment or tender of payment of the full ness, provided such act does not result in any loss attaching or created subsequent to the date hereof. amount of this policy, together with all costs, attor- of priority of the lien of the mortgage. (e) Loss or damage which would not have been neys' fees and expenses which the Company is obli- sustained if the Insured were a purchaser or encum- gated hereunder to pay, shall terminate all liability 10. POLICY ENTIRE CONTRACT brancer for value without knowledge, of the Company hereunder.In the event,after notice Any action or actions or rights of action that the of claim has been given to the Company by the (1) Any "consumer credit protection," Insured, the Company offers to Insured may have or may bring against the Company "truth in lending"or similar law. debtedness, the owner of such indebtednessishall arising out of the status of the lien of the mortgage 4. DEFENSE AND PROSECUTION OF ACTIONS transfer and assign said indebtedness and the Mort- covered by this policy or the title of the estate or gage securing the same to the Company upon pay- interest insured herein must be based on the provi- -NOTICE OF CLAIM TO BE GIVEN ment of the purchase price. sions of this policy. BY THE INSURED No provision or condition of this policy can be 7 PAYMENT OF LOSS waived or changed except by writing endorsed hereon . (a) The Company,at its own cost and without or attached hereto signed by the President, a Vice undue delay shall provide (1) for the defense of the (a) The liability of the Company under this President, the Secretary, an Assistant Secretary or Insured in all litigation consisting of actions or pro- policy shall in no case exceed,in all, the actual loss other validating officer of the Company. ceedings commenced against the Insured,or defenses, of the Insured and costs and attorneys'fees which the restraining orders, or injunctions interposed against Company may be obligated hereunder to pay. 11. NOTICES, WHERE SENT a foreclosure or sale of the mortgage and indebted- (b) The Company will pay,in addition to any ness covered by this policy or a sale of the estate or loss insured against by this policy, all costs imposed All notices required to be given the Company interest in said land; or (2) for such action as may upon the Insured in litigation carried on by the and any statement in writing required to be fur- be appropriate to establish the title of the estate or Company for the Insured,and all costs and attorneys' nished the Company shall be addressed to it at its interest or the lien of the mortgage as insured,which fees in litigation carried on by the Insured with the home office at 421 North Main Street, Santa Ana, litigation or action in any of such events is found4p written authorization of the Company. lifornia, or to the office which issued this policy.