HomeMy WebLinkAbout1976-01-22 - Grant SULLY-MILLER CONTRACTING CO if
AP 111-071-31
` Ri COP,�`ING REQUESTED BY 28615
BK 1 16351"S 35
r ,RECORDING REQUESTED BY
EXEEMPT CNICyGO TITLE INS. CO.
C1 ......._.._�.�..�.
AND WHEN RECORDED MALL TO RECORDED IN OFFICIAL RECORDS
OF ORANGE COUNTY, CALIFORNIA
Name City of Huntington Beach F40,PKfl,,t10AM JAN S01976
Street P. 0. Box 190 25�8 J.rrvu CAR�rIE,c .n�
Address Huntington Beach, CA 92648
City a Att: F. G. Belsito
Slate I
L J SPACE ABOVE THIS LINE FOR RECORDER'S USE
MAIL TAX STATEMENTS TO
This document is solely for the
Nome City Clerk official business of the City .
Street City of Huntington Beach of Huntington Beach, as contem—
Address p, 0. Box 190 plated under Government Code - -- -
City a Huntington Beach, CA 92648 Sec. 6103 and should be recordee
State
free of charge.
D.T.T. S.
Corporation Grant Deed
TO 406 CA (7-68) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
SULLY—MILLER CONTRACTING COMPANY
a corporation organized under the laws of the state of CALIFORNIA
hereby GRANTS to
CITY OF HUNTINGTON BEACH, a municipal corporation
the following described real property in the City of Huntington Beach
County of Orange , State of California:
As described in the description sheet hereto attached and
hereof made a part.
SUBJECT TO all covenants , conditions, restrictions and easements
of record.
APPROVED AS TO FORM:
DON P. BONFA
t City Attorney
By
u y'`Ci tto y
a.j
In Witness Whereof, said corporation has caused its corporate name and seal to be affixed hereto and this instru-
ment to be executed by its President and Assn Secretary
thereunto duly authorized.
Dated: January 22, 1976 -
STATE OF CALIFORNIA By
LOS ANGELES } SS. President
COUNTY OF s;,
On January 29, 1976 before me, the under- By
signed, a Notary Public in and for said State, personally appeared Asst.... Secretary
R. K. MacGregor , known
to me to be the President, and
R. R. Munro known to me to be
Assistant Secretary of the Corporation that executed the
within Instrument, known to me to be the persons who executed the
within Instrument on behalf of the Corporation therein named, and
acknowledged to me that such Corporati executed the within Instru �. OFFICIAL SEAL 4
ment pursuant t is by-laws or a reso ion of its board of directors. "�` DONNA M. TEPPI R 4
WITNESS my and and offic sea ♦ m��r NOTARY PUBLIC-GAL!FORNIA ,.
,{� r o
1U /C_ s ! e PRINCIPAL OPEC i
Signature
� J , s ® .�-®�' LOS AftiUr=?.i:S C:OUf`v'i i' �
,
My Gommission Expires March 5, 1977
DONNA M. TEPPER s♦♦0000000� 0000ra00000bo��
Name (Typed or Printed) (This area for official notarial sea])
Tit le Order No. Escrow or Loan No.
MAIL TAX STATEMENTS AS DIRECTED ABOVE
LEGAL DESCRIPTION
The East half of the Southwest quarter of the Northwest
quarter of Section 35, Township 5 South, Range 11 West
in the Rancho Las Bolsas, in the City of Huntington Beach,
County of Orange, State of California, as shown on a map
recorded in Book 51, Page 13 of Miscellaneous Maps, records
of Orange County.
EXCEPTING therefrom the South 20 feet for roads, aqueducts,
ditches, pipes, flumes or other conduits for water, as set
forth in the deed from The Stearns Ranchos Company, recorded
December 12, 1900 in. Book 43, Page 193 of Deeds and as re-
served in subsequent deeds of record.
SAVE AND EXCEPT AND RESERVED UNTO GRANTOR all oil and gas,
hydrocarbon substances, geothermal energy and minerals,
except sand and gravel, below a depth of 500 feet from the
surface, but without the right to use the surface of said
land in connection with the exploration, development or
production thereof, provided, however, the same shall not
be construed to prohibit slant or directional drilling
operations or such other operations which in no way use
or affect the surface rights of said land and which do
not enter said land at a point less than 500 feet below
the surface of said land.
t j � �► �c 16s 3
a
J� City of Huntington Beach
�— P,O. BOX 190 CALIFORNIA 92648
DEED CERTIFICATION
This is to certify that the interest in real property conveyed
by the deed dated January 22, 1976 from Sully-Miller Contracting
Company to the City of Huntington Beach, a municipal corporation,
is hereby accepted by the undersigned officer or agent on behalf
of the City Council of the City of Huntington Beach pursuant to
the authority conferred by resolution of the City Council of the
City of Huntington Beach adopted on June 3, 1968, and the grantee
consents to the recordation thereof by its duly authorized officer.
Dated: January 30, 1976 CITY OF HUNTINGTON BEACH
x:
Floyd G. elsito
Assistant City Administrator
< _ L
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l
CORPORATION CORPORATION
GRANT DEED GRANT DEED
TI TI
TI TI
Title Insurance Title Insurance
and and
Trust Company Trust Company
COMPLETE STATEWIDE TITLE SERVICE COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL WITH ONE LOCAL CALL
f
f t
7, k,R .:.
CALIFORNIA LAND TITLE ASSOCIATION
STANDARD COVERAGE POLICY 1973
x
CHICAGO TITLE INSURANCE COMPANY
ri
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF,
=' CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Company,
insures the insured, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding `
the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the
Company may become obligated to pay hereunder, sustained or incurred by said insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as stated therein; -
2. Any defect in or lien or encumbrance on such title; 4-
3. Unmarketability of such title; or
4. Any lack of the ordinary right of an abutting owner for access to at least one physically open street
or highway if the land, in fact, abuts upon one or more such streets or highways; r
and in addition, as to an insured lender only: u
S. Invalidity of the lien of the insured mortgage upon said estate or interest except to the extent that
such invalidity, or claim thereof, arises out of the transaction evidenced by the insured mortgage u
and is based upon
a. usury, or
b. any consumer credit protection or truth in lending law;
rc
6. Priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being shown :
in Schedule B in the order of its priority; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment is shown in
Schedule B. £'
In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be
signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when ss
countersigned by an authorized signatory.
CHICAGO TITLE INSURANCE COMPANY
v¢Y ZZ
Issued by: 1' '
ORANGE COUNTY OFFICE ., President
17671 Irvine Boulevard
ATTEST:
w Tustin, California 92680 s
(714) 832-7222
x
Secretary
r.+d3?;,
CONDITIONS AND STIPULATIONS
1. Definition of Terms (b) The insured shall notify the Company promptly in
The following terms when used in this policy mean: writing (i) in case of any litigation as set forth in (a) above,
(a) "insured": the insured named in Schedule A,and,subject (ii) in case knowledge shall come to an insured hereunder of
to any rights or defenses the Company may have had against the any claim of title or interest which is adverse to the title to the
named insured, those who succeed to the interest of such insured estate or interest or the lien of the insured mortgage, as insured,
by operation of law as distinguished from purchase including, but and which might cause loss or damage for which the Company
not limited to, heirs, distributees, devisees, survivors, personal may be liable by virtue of this policy, or (iii) if title to the estate
representatives, next of kin, or corporate or fiduciary successors. or interest or the lien of the insured mortgage, as insured, is
The term "insured" also includes (i) the owner of the indebted- rejected as unmarketable. If such prompt notice shall not be
ness secured by the insured mortgage and each successor in given to the Company, then as to such insured all liability of
ownership of such indebtedness (reserving, however, all rights the Company shall cease and terminate in regard to the matter
and defenses as to any such successor who acquires the indebted- or matters for which such prompt notice is required; provided,
ness by operation of law as described in the first sentence of however, that failure to notify shall in no case prejudice the
this subparagraph (a) that the Company would have had against rights of any such insured under this policy unless the Company
the successor's transferor), and further includes (ii) any govern- shall be prejudiced by such failure and then only to the extent
mental agency or instrumentality which is an insurer or guarantor of such prejudice.
under an insurance contract or guaranty insuring or guaranteeing (c) The Company shall have the right at its own cost to
said indebtedness, or any part thereof, whether named as an institute and without undue delay prosecute any action or pro-
insured herein or not, and (iii) the parties designated in para- ceeding or to do any other act which in its opinion may be neces-
graph 2(a) of these Conditions and Stipulations. sary or desirable to establish the title to the estate or interest or
(b) "insured claimant": an insured claiming loss or dam- the lien of the insured mortgage, as insured; and the Company
age hereunder. may take any appropriate action, whether or not it shall be liable
(c) "insured lender": the owner of an insured mortgage. under the terms of this policy, and shall not thereby concede
(d) "insured mortgage": a mortgage shown in Schedule B, liability or waive any provision of this policy.
the owner of which is named as an insured in Schedule A. (d) Whenever the Company shall have brought any action
(e) "knowledge": actual knowledge,not constructive knowl- or interposed a defense as required or permitted by the provisions
edge or notice which may be imputed to an insured by reason of this policy,the Company may pursue any such litigation to final
of any public records. determination by a court of competent jurisdiction and expressly
(f) "land": the land described, specifically or by reference reserves the right, in its sole discretion, to appeal from any adverse
in Schedule A, and improvements affixed thereto which by law judgment or order.
constitute real property; provided, however, the term "land" does (e) In all cases where this policy permits or requires the
not include any area excluded by Paragraph No. 6 of Part I of Company to prosecute or provide for the defense of any action
Schedule B of this Policy. or proceeding, the insured hereunder shall secure to the Company
(g) "mortgage": mortgage, deed of trust, trust deed, or the right to so prosecute or provide defense in such action or
other security instrument. proceeding, and all appeals therein, and permit the Company to
(h) "public records": those records which by law impart use, at its option, the name of such insured for such purpose.
constructive notice of matters relating to the land. Whenever requested by the Company, such insured shall give the
Company, at the Company's expense, all reasonable aid (1) in any
2. (a) Continuation of Insurance after Acquisition of Title by such action or proceeding in effecting settlement,securing evidence,
Insured Lender obtaining witnesses, or prosecuting or defending such action or
If this policy insures the owner of the indebtedness secured proceeding, and (2) in any other act which in the opinion of the
by the insured mortgage, this policy shall continue in force as Company may be necessary or desirable to establish the title to
of Date of Policy in favor of such insured who acquires all the estate or interest or the lien of the insured mortgage,as insured,
or any part of the estate or interest in the land described in including but not limited to executing corrective or other docu-
Schedule A by foreclosure, trustee's sale, conveyance in lieu of merits.
foreclosure, or other legal manner which discharges the lien of
the insured mortgage, and if such insured is a corporation, its 4. Proof of Loss or Damage--Limitation of Action
transferee of the estate or interest so acquired, provided the trans- In addition to the notices required under Paragraph 3(b) of
feree is the parent or wholly owned subsidiary of such insured; these Conditions and Stipulations, a proof of loss or damage,signed
and in favor of any governmental agency or instrumentality which and sworn to by the insured claimant shall be furnished to the
acquires all or any part of the estate or interest pursuant to a Company within 90 days after the insured claimant shall ascertain
contract of insurance or guaranty insuring or guaranteeing the or determine the facts giving rise to such loss or damage. Such
indebtedness secured by the insured mortgage. After any such proof of loss or damage shall describe the defect in, or lien or
acquisition the amount of insurance hereunder, exclusive of costs, encumbrance on the title, or other matter insured against by this
attorneys'fees and expenses which the Company may be obligated policy which constitutes the basis of loss or damage, and, when
to pay, shall not exceed the least of: appropriate, state the basis of calculating the amount of such loss
(i) the amount of insurance stated in Schedule A; or damage.
(ii) the amount of the unpaid principal of the indebted- Should such proof of loss or damage fail to state facts sufficient
ness plus interest thereon, as determined under para- to enable the Company to determine its liability hereunder, insured
graph 6(a)(iii) hereof, expenses of foreclosure and claimant, at the written request of Company, shall furnish such
amounts advanced to protect the lien of the insured additional information as may reasonably be necessary to make
mortgage and secured by said insured mortgage at such determination.
the time of acquisition of such estate or interest in No right of action shall accrue to insured claimant until 30 days
the land; or after such proof of loss or damage shall have been furnished.
(iii) the amount paid by any governmental agency or Failure to furnish such proof of loss or damage shall terminate
instrumentality, if such agency or instrumentality is any liability of the Company under this policy as to such loss or
the insured claimant, in acquisition of such estate or damage.
interest in satisfaction of its insurance contract or 5. Options to Pay or Otherwise Settle Claims and Options to
guaranty. Purchase Indebtedness
(b) Continuation of Insurance after Conveyance of Title The Company shall have the option to pay or otherwise settle for
The coverage of this policy shall continue in force as of Date or in the name of an insured claimant any claim insured against,or
of Policy, in favor of an insured so long as such insured retains to terminate all liability and obligations of the Company hereunder
an estate or interest in the land, or owns an indebtedness secured by paying or tendering payment of the amount of insurance under
by a purchase money mortgage given by a purchaser from such this policy together with any costs, attorneys' fees and expenses
insured, or so long as such insured shall have liability by reason incurred_up to the time of such payment or tender of payment by
of covenants of warranty made by such insured in any transfer the insured claimant and authorized by the Company. In case loss
or conveyance of such estate or interest; provided, however, this or damage is claimed under this policy by the owner of the
policy shall not continue in force in favor of any purchaser from indebtedness secured by the insured mortgage, the Company shall
such insured of either said estate or interest or the indebtedness have the further option to purchase such indebtedness for the
secured by a purchase money mortgage given to such insured. amount owing thereon together with all costs, attorneys' fees and
expenses which the Company is obligated hereunder to pay. If the
3. Defense and Prosecution of Actions—Notice of Claim to be Company offers to purchase said indebtedness as herein provided,
Given by an Insured Claimant the owner of such indebtedness shall transfer and assign said
(a) The Company, at its own cost and without undue delay, indebtedness and the mortgage and any collateral securing the same
shall provide for the defense of an insured in litigation to the to the Company upon payment therefor as herein provided. Upon
extent that such litigation involves an alleged defect, lien, encum- such offer being made by the Company,aR liability and obligations
brance dr other matter insured against by policy. of the Company her er to the owner of the indebtedness
F r
SCHEDULE A
Policy No. 6115-3 Date of Policy Amount of Insurance $ 690,000.00
Order No. 6115-3 January 30, 1976 Charge $ 1,687.50
at 10:40 A.M.
1. Name of Insured:
CITY OF HUNTINGTON BEACH, a municipal corporation
2. The estate or interest in the land described herein and which is covered by this policy is:
A FEE
3. The estate or interest referred to herein is at Date of Policy vested in:
CITY OF HUNTINGTON BEACH, a municipal corporation
d, The land referred to in this policy is situated in the County of Orange , State of
California , and is described as follows:
The East half of the Southwest quarter of the Northwest quarter of
Section 35, Township 5 South, Range 11 West in the Rancho Las Bolsas, in
the city of Huntington Beach, county of Ornge, state of California, as
shown on a map recorded in book 51 page 13 of Miscellaneous Maps, records
of Orange County.
EXCEPTING therefrom the South 20 feet for roads, aqueducts, ditches,
pipes, flumes or other conduits for water, as set forth in the deed from
The Stearns Ranchos Company, recorded December 12, 1900 in book 43 page
193 of Deeds and as reserved in subsequent deeds of record.
ALSO EXCEPT all oil and gas, hydrocarbon substances, geothermal energy
and minerals, except sand and gravel, below a depth of 500 feet from
the surface, but without the right to use the surface of said land in
connection with the exploration, development or production thereof,
provided, however, the same shall not be construed to prohibit slant
Continued.. .
FORM 3235(R1-75) This policy valid only if Schedule B is attached. Chicago Title Insurance Company
SCHEDULE B
Policy No. 6115-3
This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses,
any or all of which arise by reason of the following:
PART I
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies
taxes or assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings,
whether or not shown by the records of such agency or by the public records.
2. Any facts,rights,interests or claims which are not shown by the public records but which could be ascertained
by an inspection of the land or by making inquiry of persons in possession thereof.
3. Easements,liens or encumbrances,or claims thereof,which are not shown by the public records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments,or any other facts which a correct
survey would disclose,and which are not shown by the public records.
S. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; W water rights,claims or title to water.
6. Any right,title,interest,estate or easement in land beyond the lines of the area specifically described or referred
to in Schedule A, or in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this
paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a
physically open street or highway is insured by this policy.
7. Any law, ordinance or governmental regulation(including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy,use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation
in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such
law,ordinance or governmental regulation.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not shown by the public records and dot otherwise excluded from coverage but known
to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest
insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant
to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss
or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting in
loss or damage which would not have been sustained if the insured claimant had been a purchaser or
encumbrancer for value without knowledge.
PART II
1. Second installment general and special County and City taxes
For fiscal year: 1975-76
Amount: $1,737.26
2. The right of way for pipe lines and pole lines over the South 10
feet of said land, as conveyed to Shell Company of California by
deeds recorded March 28, 1923 in book 460 page 265 of Deeds and
April 10, 1928 in book 464 page 72 of Deeds.
3. The right to way for pole lines over a portion of said land, as
conveyed to Union Oil Company of California by deed recorded May 4,
1923 in book 465 page 269 of Deeds.
Continued. . .
NOTE: The following endorsements appearing after
Schedule B are an integral part of this policy:
4�
Validating Signatory
sm
Form 3236—(R 10-73) Schedule B of this Policy consists of 2 pages. Chicago Title Insurance Company
Policy No. 6115-3
SCHEDULE B CONTINUED
Said deed provides that said pole line shall be constructed along a
strip of land 10 feet in width, the center line of which is described
as follows:
A line distant 25 feet Northerly from and parallel with the Southerly
line of said land and extending from the Westerly to the Easterly
lines thereof.
4. An easement over that portion of said land included in the widening
of Ellis Avenue, as conveyed to Orange County by deed recorded
February 16, 1951. in book 2145 page 413 of Official Records.
5. An easement for either or both pole lines, conduits and incidental
purposes as set forth in an instrument recorded in book 3605 page
82 of Official Records, over a strip of land 10 feet in width,
lying within the East half of the Southwest quarter of the Northwest
quarter of said Section 35, the center line of said strip is described
as follows:
Beginning at a point in said East half, distant 1.15 feet Westerly,
measured at right angles, from the East line of said East half and
distant 50 feet Northerly, measured at right angles, from the
Northerly line of Ellis Street, as now established; thence West 14
feet; thence Southwesterly a distance of 142 feet to the Southerly
line of said Ellis Street.
Also the East 6 feet of the South 550 feet of said East half.
Excepting from the above those portions lying within said Ellis
Street.
6. An easement for either or both pole lines, conduits and incidental
purposes as set forth in an instrument recorded in book 3628 page
348 of Official Records, over a strip of land 10 feet in width,
lying within the East half of the Southwest quarter of the Northwest
quarter of said Section 35, the center line of said strip is described
as follows:
Beginning at a point on the Northerly line of Ellis Street, as now
established, distant 790 feet Easterly thereon from the Easterly
line of Goldenwest Avenue, as now established; thence North 30
feet.
7. An easement for street, public utility and incidental purposes as
set forth in an instrument recorded in book 7491 page 101 of Official
Records over the North 10.00' feet of the South 40.00 feet of the
West 35.00 feet of the East 455.00 feet of said .land.
Continued. . .
Form 3631 Chicago Title Insurance Company
W.1, ORTANT. 1 i,:5 to nol - Plat c: Slu y. It ? I
rural ,} u ,..,s a POR. W //2, SEC 35, T5S, R. t/W 111-07
indicated .C--n s, it rer ,onc -to streo.3 and
other land. N!o i a r.irty is asSl.1:?ied by reason
of reliance hercon.
26 159-06 24 S. ►I,,*a
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MARCH 1951 NOTE — ASSESSOR'S BLOCK 8 ASSESSOR'S MAP CD
1975 PARCEL NUMBERS BOOK Ill A46E 07
SHOWN /N CIRCLES COUNTY OF ORANGE
6NDITIONS AND STIPULATIONS,Continued
secured by said insured mortgage, other than the obligation to of any such mortgage any amount that otherwise would be
purchase said indebtedness pursuant to this paragraph, are ter- payable hereunder to the insured owner of the estate or interest
minated. covered by this policy and the amount so paid shall be deemed
6. Determination and Payment of Loss a payment under this policy to said insured owner.
(a) The liability of the Company under this policy shall in The provisions of this paragraph 9 shall not apply to an owner
no case exceed the least of: of the indebtedness secured by the insured mortgage, unless such
(i) the actual loss of the insured claimant; or insured acquires title to said estate or interest in satisfaction of
(ii) the amount of insurance stated in Schedule A, or, if said indebtedness or any part thereof.
applicable, the amount of insurance as defined in para- 10. Subrogation Upon Payment or Settlement
graph 2(a) hereof; or Whenever the Company shall have paid or settled a claim
(iii) if this policy insures the owner of the indebtedness under this policy, all right of subrogation shall vest in the Com-
secured by the insured mortgage, and provided said pany unaffected by any act of the insured claimant, except that
owner is the insured claimant, the amount of the un- the owner of the indebtedness secured by the insured mortgage
paid principal of said indebtedness, plus interest there- may release or substitute the personal liability of any debtor or
on, provided such amount shall not include any guarantor, or extend or otherwise modify the terms of payment,
additional principal indebtedness created subsequent or release a portion of the estate or interest from the lien of
to Date of Policy, except as to amounts advanced to the insured mortgage, or release any collateral security for the
protect the lien of the insured mortgage and secured indebtedness, provided such act occurs prior to receipt by such
thereby. insured of notice of any claim of title or interest adverse to the
(b) The Company will pay, in addition to any loss insured title to the estate or interest or the priority of the lien of the
against by this policy, all costs imposed upon an insured in insured mortgage and does not result in any loss of priority of
litigation carried on by the Company for such insured, and all the lien of the insured mortgage. The Company shall be subro-
costs, attorneys' fees and expenses in litigation carried on by gated to and be entitled to all rights and remedies which such
such insured with the written authorization of the Company. insured claimant would have had against any person or property
(c) When the amount of loss or damage has been definitely in respect to such claim had this policy not been issued, and
fixed in accordance with the conditions of this policy, the loss or the Company is hereby authorized and empowered to sue, com-
damage shall be payable within 30 days thereafter. promise or settle in its name or in the name of the insured to
Limitation of Liability the full extent of the loss sustained by the Company. If requested
7.
N claim shall arise or be maintainable under this policy by the Company, the insured shall execute any and all documents
p to evidence the within subrogation. If the payment does not cover
(a) if the Company, after having received notice of an alleged the loss of such insured claimant, the Company shall be subro-
defect, lien or encumbrance insured against hereunder, by litiga- gated to such rights and remedies in the proportion which said
tion or otherwise, removes such defect, lien or encumbrance or payment bears to the amount of said loss, but such subrogation
establishes the title, or the lien of the insured mortgage, as shall be in subordination to an insured mortgage. If loss should
insured, within a reasonable time after receipt of such notice; result from any act of such insured claimant, such act shall not
(b) in the event of litigation until there has been a final deter- void this policy, but the Company, in that event, shall as to such
mination by a court of competent jurisdiction, and disposition insured claimant be required to pay only that part of any losses
of all appeals therefrom, adverse to the title or to the lien insured against hereunder which shall exceed the amount, if any,
of the insured mortgage, as insured, as provided in paragraph 3 lost to the Company by reason of the impairment of the right
hereof; or (c) for liability voluntarily admitted or assumed by of subrogation.
an insured without prior written consent of the Company.
11. Liability Limited to this Policy
S. Reduction of Insurance; Termination of Liability This instrument together with all endorsements and other
All payments under this policy, except payment made for instruments, if any, attached hereto by the Company is the entire
costs, attorneys' fees and expenses, shall reduce the amount of policy and contract between the insured and the Company.
the insurance pro tanto; provided, however, if the owner of the Any claim of loss or damage, whether or not based on negli-
indebtedness secured by the insured mortgage is an insured here- gence, and which arises out of the status of the lien of the
under, then such payments, prior to the acquisition of title to insured mortgage or of the title to the estate or interest covered
said estate or interest as provided in paragraph 2(a) of these hereby, or any action asserting such claim, shall be restricted to
Conditions and Stipulations, shall not reduce pro tanto the the provisions and conditions and stipulations of this policy.
amount of the insurance afforded hereunder as to any such No amendment of or endorsement to this policy can be made
insured, except to the extent that such payments reduce the except by writing endorsed hereon or attached hereto signed by
amount of the indebtedness secured by such mortgage. either the President, a Vice President, the Secretary, an Assistant
Payment in full by any person or voluntary satisfaction or Secretary, or validating officer or authorized signatory of the
release of the insured mortgage shall terminate all liability of Company.
the Company to an insured owner of the indebtedness secured No payment shall be made without producing this policy for
by the insured mortgage, except as provided in paragraph 2(a) endorsement of such payment unless the policy be lost or de-
hereof. stroyed, in which case proof of such loss or destruction shall be
9. Liability Noncumulative furnished to the satisfaction of the Company.
It is expressly understood that the amount of insurance under 12. Notices, Where Sent
this policy, as to the insured owner of the estate or interest All notices required to be given the Company and any state-
covered by this policy, shall be reduced by any amount the Com- ment in writing required to be furnished the Company shall be
pany may pay under any policy insuring (a) a mortgage shown addressed to it at Ill W. Washington Street, Chicago, Illinois
or referred to in Schedule B hereof which is a lien on the estate 60602 or at any branch office of the Company shown on the
or interest covered by this policy, or (b) a mortgage hereafter reverse side hereof.
executed by an insured which is a charge or lien on the estate 13. Fee
or interest described or referred to in Schedule A, and the THE CHARGE SPECIFIED IN SCHEDULE A IS THE
amount so paid shall be deemed a payment under this policy. ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINA-
The Company shall have the option to apply to the payment TION AND TITLE INSURANCE.
,I s
CALIFORNIA LAND TITLE_
ASSOCIATION
STANDARD COVERAGE
POLICY 1973
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POLICY
OF
TITLE
INSURANCE
CHICAGO
TITLE INSURANCE
COMPANY
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�9�CE CIO�
ORANGE COUNTY OFFICE
17671 Irvine Boulevard
Tustin,California 92680
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FORM 3024 R 1 73