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HomeMy WebLinkAbout1977-11-29 - Grant H B CO :Ye 419 - /-/l, d GG-Jsa WHEN RECORDED MAIL TO: � � BK 12537PG 444 27481 CITY OF HUNTINGTON BEACH Office of the City Clerk EXE�t�PT RECORDED AT REQUEST O P. 0; Box 190 C 9 FIRST AMER, TITLE INS. CO. Huntington Beach, Calif. 92648 IN OFFICIAL RECORDS OF ORANGE COUNTY, CALIFORNIA 8:00 AM JAN 201978 J.WYLIE CARLYLE,Count ;=j 3035 Tax-Exempt-Government Agency City. of Huntington Beach Alicia M. Wentworth City Clerk I3y: .-- y� CORPORATION GRANT DEED �Depu Ci Clerk FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, HUNTINGTON BEACH COMPANY, a corporation organized under the laws of the State of California hereby GRANTS to the CITY OF HUNTINGTON BEACH, a municipal corporation, that certain real property in the City of Huntington Beach, County of Orange, State of California, described on Exhibit A, annexed hereto and made a part hereof. EXCEPTING AND RESERVING to Huntington Beach Company, its successors and assigns, from that portion (hereinafter called the "sub-500 portion") of said real property lying below a depth of five hundred (500) feet beneath the surface thereof, all oil, gas, asphaltum and other hydrocarbons and all other minerals whether similar or dissimilar to those herein specified and including all fissionable materials within or that may be produced or extracted or taken from the sub-500-portion of said real property, which said oil, gas, asphaltum, hydrocarbons and materials shall be hereinafter collectively called the "sub-500 minerals" , and FURTHER EXCEPTING AND RESERVING to Huntington Beach Company, its successors and assigns from that portion (hereinafter called the "sub-200 portion") of said real property lying below a depth of two hundred (200) feet beneath the surface thereof, the following: 1 . BX 12537PG 445 A. The sole and exclusive right from time to time to locate and maintain subsurface portions of oil and gas wells in the sub-200 portion of said real property and the right to drill for, produce, extract and take the sub-500 minerals from the sub-500 portion of said real property and the right to exercise all of the rights and privileges necessary for such drilling, producing, extracting and taking; and B. The sole and exclusive right to use the sub-200 portion of said real property to conduct operations from time to time by methods now known or unknown which, in the opinion of Huntington Beach Company, are reasonably designed to benefit or facilitate the drilling for or production, extraction or taking of the sub-500 minerals from the sub- 500 portion of said real property or any minerals from lands other than said real property (hereinafter called the "other lands") , together with the right to drill a well or wells or use any existing wells in, into or through the sub-200 portion of said real property, for the purpose of injecting into the sub-500 portion of said real property or into other lands, oil, gas, air, water or other liquid or gaseous substances, including the right, from time to time to ignite or otherwise activate any or all of such substances so injected or any or all of the sub-500 minerals within the sub-500 portion of said real property or any minerals from other lands; and C. The sole and exclusive right from time to time to drill into and through the sub-200 portion of said real property from other lands by means of a well or wells drilled from the surface of other Lands, together with the sole and exclusive right to repair, redrill, deepen, maintain, rework and operate such wells and produce any minerals from other 2 . BK 12537PG 446 lands by means of such well, or wells, through the sub-200 portion of said 'real property, and D. The sole and exclusive right from time to time to locate, operate and maintain subsurface portions of wells in, into or through the sub-200 portion of said real property and the right from time to time, to inject, store, pressurize, and remove the sub-500 minerals or any minerals from other lands for the purpose of storing the same in the sub-500 portion of said real property or in other lands. The above described rights excepted and reserved to Huntington Beach Company, its successor and assigns, shall not be limited to, or by, the first or any subsequent exercise thereof. Nothing hereinabove set forth shall be deemed to reserve to Huntington Beach Company, its successors or assigns, any interest in the surface or in any portion of said real property lying within two hundred (200) -feet measured vertically downward from the surface of said real property. FURTHER EXCEPTING AND RESERVING all water rights of or related to or appurtenant to said real property including, but not limited to, all right to percolating waters , artesian waters and underground streams, but without the right of surface entry. This grant deed is made subject to all matters of record. IN WITNESS WHEREOF, said corporation has caused its corporate name and seal to be affixed hereto and this instrument to be executed by its Vice President and Assistant Secretary thereunto duly authorized. DATED: �r1YC�'1'���r 1977. HUNTINGTON BEACH COMPANY By ee President B y Assistant Secretary w 3. TO 449 O (Corporation) � R STATE OF CALIFORNIA DX t 2 7f 0 447 COUNTY OF Orange SS. / TNovember 29, 1977 11 On before me, the undersigned, a Notary Public in and for said State, personally appeared S. A. Young w known to me to be the Vice President, and T. B. Rollins lX known to me to be Assistant Secretary of the corporation that executed the within Instrument, w known to me to be the persons who executed the within a Instrument on behalf of the corporation therein named, and acknowledged to me that such corporation executed the within m instrument pursuant to its by-laws or a resolution of its board ®••OAO♦®®'A♦®AA•OAA•AAOAAAA�A� of directors. ® R o OFFICIAL SEAL • WIT my hand and official seal. ® R , SHIRLEY M. HOLMAN � NOTARY i vBLiC-CAL FORMA � m ORAINGE COUNTY Sign---,- ign • `4 Riy Commission Expires Nov.25,1980.E Shirle M Holman Y . 2110,Main St., Huntington Beach, CA 9264$ Name (Typed or Printed) (This area for official notarial seal) I2537PG 448 1 w i _N 0°00 25"W t ' `7131 co — i V� �- -N49°00'09., 41.13 i N?. 02'26"E PAD \, rj G ui 7 vi 4� CD Oro RA p� S3•. i -� aA fTl �.��. IN O u" V )o N f 1 c U) n O lA—I y Cj)CD _ Jl� fV I o 'J (� I oa n`v z I -4 , a` t o ^ f. fD4rTi ..��, y U, {. rJ r�r Vr iJ r y P' a> rn j, 20' 20 , N I U; CIO' n (� �CJ (JI O r, f1.0°00'51 E. 20,00' �- r� N0°02'02,E- '"" 80.1 Id 0°02 0'1"k i N, 42 U ti �1 O C7 G EXHIBIT "A" BK 12537PG 449 REAL PROPERTY DESCRIPTION That certain real property in the City of Huntington Beach, County of Orange, State of California, described as follows : That portion of the North one-half (N 1/2) of the Northeast one-quarter (N.E. 1/4) of the Southwest one-quarter (S.W. 1/4) of Section 35, Township 5 South, Range 11 West, in the Rancho Las Bolsas, City of Huntington Beach, County of Orange, State of California, as shown on a map recorded in Book 51, Page 13 of Miscellaneous Maps, in the office of the County Recorder of said County, described as follows: Beginning at the center of Section 35, as per Tract No. 7601 as shown on a map recorded in Book 307, pages 38 and 39 of Miscellaneous Maps , record of said County; thence West along the centerline of said Section 35, 20 .00 feet to the TRUE POINT OF BEGINNING, said point lying on the westerly right of way line of the Southern Pacific Railroad as it now exists, being parallel with and 20 .00 feet westerly of the North-South centerline of said Section 35; thence South 0002102" West 152. 30 feet along said parallel line to a non-tangent curve, concave Northeast, having a radius of 1040 .00 feet, a radial line to said point bears South 3015 ' 42" West; thence northwesterly along said curve through a central angle of 16010 ' 36" an arc distance 293 .63 feet to a point on a reverse curve, concave southwest, having a radius of 960 .00 feet, a radial line to said point bears North 19026118 East; thence northwesterly along said curve, through a central angle of 19026118" an arc distance 325 .69 feet, to a tangent line, parallel with and 40 .00 feet southerly, measured at right angles from the East-West centerline of said section; thence West 3. 34 feet along said parallel line, to a point on the centerline of Gothard Street, as it- now exists; thence North 3"7018 ' 38" West 50. 29 feet along said centerline of Gothard Street to } a point on the East-West centerline of said section; thence East 640 . 33 feet along said section line to the TRUE POINT OF BEGINNING. r , f 6K 12537PG 450 ®-� City of Huntington Beach l� P.O. BOX 190 CALIFORNIA 92648 }� DEED CERTIFICATION This is to certify that the interest in real property conveyed by the deed dated November 29, 1977 from HUNTINGTON BEACH 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 No. 3537 of the City Council of the City of Huntington Beach adopted on August 7, 1972, and the grantee consents to the recordation thereof by its duly authorized officer. Dated : December 14, 1977 CITY OF HUNTINGTON BEACH UICIA M. WENI`WBj's�j City Cler B y: c --�--- x t AMER , � //JA�N''•//31197$ Form No.1084(10/73) California Land Title Association ti Standard Coverage Policy Form Copyright 1973 �e 30 3S POLICY OF TITLE INSURANCE ISSUED BY First American Title Insurance Company SUBJECT T,6-7kHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, FIRST AMERICAN TITLE INSURANCE COMPANY,a California 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 interestibed in Schedule A being vested other than as stated therein: 2. Any defect in or lien or encnbrartce on such title; 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; and in addition,as to an insured lender only: 5. Invalidity of the lien of the insured mortgage upon said estate p_interest except to the extent that such invalidity, or claim thereof, arises out of the transaction!evlenced by the insured mortgage and is based upon x a. usury,or b. any consumer credit protection or truth in lending law; 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. k: IN WITNESS WHEREOF, First American Title Insurance Company has caused this policy to be signed and sealed by its duly authorized officers as of Date of Policy shown in Schedule A. First American Title Insurance Company ux -57 ` ps BY a PRESIDENT All ATTEST SECRETARY Form No. 1084—A + CLTA Standard Coverage Policy Copyright—1973 SCHEDULE A Total Fee for Title Search, Examination and Title Insurance $ Amount of Insurance: $ 31,2U*00 Policy No. gR-1199930 Date of Policy: 1 20, 1978 at '800 A. X. 1. Name of Insured:_ MY OF B at umizipal eo :ar* 2. The estate or interest referred to herein is at Date of Policy vested in: (MTT OF NMTMWMx a viialcipol tta IAA*. 0 3. The estate or interest in the land described in Schedule C and which is covered,by this policy is: A rea. fto 2 s 3 Form No.1084 B r CLTA Standard Coverage Policy Copyright 1974 SCHEDULE d 30 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 One: 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 cfaims 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. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights,claims or title to water. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred to in Schedule C, 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) restrict- ing 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 govern mental 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 se claims, or other matters (a) created,suffered,assumed or agreed to by thein- sured claimant; (b) not show the public records and not 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 Two fanowl ii t for ftrt TWO. P rose 3 09-1189930 i Second installment General and special Taxes .covering, the herein described and other land, for the fiscal year 1477-- 1978, amount #797*55i code Area f?a-aaS, A* Pv No 111-072 -Ole 20 Reservation of the ,h ortn -20 feet for roads, railroads and ditches and to the 'reservation of the use and control of cienegas$ and natural streasws of water, i any, naturally upon,, flowing across,° into or by said described tract, and reserving- the right of way for and to construct irrigation or drainage ditches through said tract to' trr.tgate or drain the adjacent land, as contained in the geed from the Stearns Ranches Coapauy to the Huntington Beach Company, recorded in ,Book 91, pags 134 of Deeds, ,records of 'arnage County, calif©rniae 30 An Easement as set forth in an instrument Recorded January 23, 1975 in Book 11328,' page 111 of Official t , Records, ` For. sewer lane purposes. .� Over: a strip of land 3:0*00 feet in width across that portion of the Huntington Beach Company property within, the Southwest quarter of section 35, Township South, Range 11 Wosto lying, 5 feet on eithsez side of the following described' line. Beginning at the .intersection of the centerline of the Southern Pacific Railroad Bight-Of-Way with the centerline of ,Ellis Avenue as shown on a asap of Tract Roo 3563 recorded in Book 131, pages 7 to 12 i.ncl,usi.ve, of Miscellaneous taps; thence South 00e 020 02" West along said Railroad Ri'ht Of-gray centerline 103.1 feet; thence North 84a 09' 340 West 20*10 feet to the True point of Beginainq, said point being a point in the Westerly line of said Right-Of-Way; thence North Sae 0 • 34" Crest 159.06 feet; .thence. South. 520 al' 2.2" West` 307 58 feet to a point in the Northerly Right-of-Way line of Gothard street; said point being referred to hereafter as point "A"* The sidelines of the above described 10 foot strip are to be lengthened or shortened so as to terminate in the Northerly Right-of-nay line of Gothard Street and the west Railroad Right-Of-Way.' Page 4 v , OR-1189 30 Excepting therefroa that portion of land bring within the following desscrioed lines Beginning at t1so above described point "st" in the Northerly :Right--of' way line of Gothard stsett, thence Worth 370 180 38" West along said line 3*00 feet to The True Point of Beginning; thence continuing North 370 161, 38" west 2*00 toot; thence- North 520 dl' 22" East 305.60 feet; :thence South 370 18' 3810 ` East 2.00 feet; thence South 520, 410 220 west 305.60 feet to the True paint of 8eginniAq� . '. 6 . h. An Easement as set forth in an instrument Recorded January 23, 1975 in 8o6k 11328, pa%Q 115 of Official , Records , Fors storm drain purposes. Over: , a strip of land 10*00 feet in width across that portion of the Auhtia9ton Reach -Cuapaay ,Rroper,ty witrain the Southwest c uirtei ai ' Siction 35, 'Towns i.P 5 South, Mange 1.1 West, lying 5 toot on either side of the following described line. Beginning at the intersection of the centerline of ,b the Southera Pacific Railroad fight- of-wry, with the centerlifte of Rlli,s Avenue as shown on a S&P of Tract Noo 3563 recorded in boot 1.31,E pag4s Ito 12 inclusive, of Miscellaneous Mapas; thence South 00e 2" 0216 hest along staid Railroad Right-of-way centerline 133.19 feet; thence Borth 840 470 09" West 20.08 feet to the True Point of beginning$, said point being a point is the Westerly line of said Might-tJf-:way thence North ,84e 474 09* West 131* 5 feet to the beginning of al tangent` curce concave Southeasterly and having a radius of 140.00 roast , thence Southwesterly, along said curve, through a central angle of 42e 31' 29", an ,arc d st"co of 103.91 feet; thenco South 52e 41• 22" Most 213*63 feet to a►, poi qt in the Northerly Right-of-wary 1xn* of roatha d street. Page 5 DR-1189930 I The sidelines of the above described lOoOO foot strip are to be lingtaened or shortened so as to terminate in the Northerly Right-Of-way line cat Gothard Street and the West Railroad Hight-Of-wary , line. 5. ` Certain rights relative to those portions of said land referred to as "sub-200 portiono and 'sub-580 portion" more particularly set forth, and as reserved in deed from the Huntington Beach company, a corporation, recorded January 28, 1978 which 'dead recites am ,al other, things as ftsilowsa rurther excepting and reserving to Huntington Beach company, its successors and assigns-# =from than portion (hereinafter (called the "sub--280 portion*) of said real property lying , below a depth of 200 feet beneath the surface thereof, the following ' A The sole and exclusive right from time to time to locate and maintain subsurface>'.portious of oil and '949 wells in the sub-200 portion of said: real property and the right to drill LL for, produce, extract and taKe the snub-500 minerals from the sub-500 portion of 'sa►id ' real property and the right to exercise, , all of the rights and privileges necessary for such drilling, producing, extracting and taking; and BO The sole and exclusive right to use the sub-200 portion of said real property to conduct operations from time. to time by methods now known or onhanown which, in' the opinion' of Huntington beach company, are reasonable designed" to benefit or facilitate the drilling for or productionp extraction or taring of the sub-500 minerals from the sub-500 portion or said real property or any minerals from lands other than ,said real property thereinafter calked to "other lands") ,, together with the right to drill a well or wells or use any existing wells in, into or through than sub-200 portion of said real property, for tie purpose of injecting into the 'ub-500 portion of said real property or into other land, oil:, gas, alir, water or other .liquid or gaseous substances, including the right, from time to time to ignite or othewide activate any or all of, such substances so i,n3ected or any or all of the sub--500 minerals within the sub--500 portion of said real property or any minerals from other lands, and C The soles and .exclsasive right from time to tier to drill into and through the sub-200 portion of said real, property .from other lands by means of a well or wells drilled fro* the Page ON- 1899 0 surface of other lands, together with the sole and exclusive right to -repair, redrill, deepen, maintain, rework and operate such wells and produce any minerals from other lanais by means of` such well, or wells, through the sub-200 portion of said real property; and Do The sole and exclusive right from time to time to locate, operate and maintain subsurface portions of wells int, into or through. the sab- 4D portion of said real property and right from time to tiaae, to inject, store, pressurize, and remove the sub -sat? minerals or any minerals from other lauds .for the purpose of storing the same in the sub- 500 portion of said real property or in other ' lasnda+ The above described rights excepted and reserved to Huntington , Beath Company, its saecessor and ass xgns shall not be limited to, or by, tho furst or any subselueat exercise thereof. Notaing hereinabove set fdrth shall be deemed to reserve to Huntington Beach Company, its successors or assigns* axay, interest in the surface or in any portion of` said real property lying within 200 feet measured vertically downward from the surface of said real property, Page, 7 I� 08-1189930 LJ8 of SCHEDULE C The land referred to in this policy is situated in. the State of. California,, County of orange,; city of Huntington aeac- a, and is described as follows: That portion of the North one-half of the Northeast one-guartor Of the Southwtest one-quarter of Section 35, Township 5 South,, Range 11 West, .in the Rancho Las Balsas, as shown on, a oap recorded in Book 51, page 13 of miscellaneous Maps, in the Office of the County Recorder of wail County, described as follows: Beginning ;at the center` of Section .35, as per Tract, No. 7601 as shorn on a map recorded in Book 307, pages 38 and 39 of Miscellaneous asps, record of said County; thence taut along , the centerline of said Section 35, 20*00 toot to the true Point of Beginning, said point lyinq, on the Westerly right of way lire of the Southern Pacific Railroad as it now exists, being parallel with; and 20*00 feet Westerly of the North-South centerline of said Section 354 thence South 0* 02* 020 nest 152o 30 feet along said parallel line to a non-tangent curve, concave Northeast,' having a `radi us of 1040*00 feet,, a radial [ line to said point beaus South 30 154 420 West; thence Northwesterly along said curve through a central angle of: 160 ` 1p* 36" an arc distance of 293.63 feet to a 'point: on a reverse curve, concave Southwest, having a .radius of 960*€ 0 €set,` a radial; line to said point besars .Morth 19e 26* 180 East; thence Northwesterly along said curve, through a central- angle of 190 26`0 180 an are distance of 325#69 feet, to a tangent line„ parallel with and 40*00 feet Southerly, "measured at sight angles from the East- test centerline of said section; thence West 3 3v feet 'along said parallel line, to a point on the centerline of Gothard Street, as it now exists; thence worth 3'7a 18°" 38", west 5O 29 'feet along said centerline of Gotherd Street to a point on the East-West centerline of said section; thence Last 640*33 feet along said section line to the 'True Point of Beginning. Excepting therefrom that portion included within that certain 50 foot road established by the Board of Supervisors of Orange County January 16, 19060 now known as Oothard Strootw Page 8 i a8-*1189930 Also excepting =from that portion (karainafter called the '"sub- 50 portion*) of said land lying below a depth of SOO feet beneath the surface thereof,, all oil, gait, asphtltatm ,and other.. hydrocarbons and all other minerals whether similar or dissimilar to those herein specified and including all fissionable ' materials within or that may be produced or extracted or taken from the sub-500 portion of said read property, which said oil, gas, asphaltum, hydrocarbons and materials shall be' horoin€cfter collectively called the "sa:b-500 stinerals*, as reserved In deed from Buntingt9n Beach Company, a corporation recorded January 20 1976» Also excepting all water rights of or related to or appurtenant to said real property including, but not limited tof all right to percolating waters, 'artesian eaters and underground streams, but without the right of surface entry, as reserved in said deed from Huntington teach .Company, a corporation recorded January 20, 1974* Page 9 INDORSEMENT Attached to Policy No. OR-1189930 Issued by First American Title Insurance Company The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional monetary protection to the Insured Owner named in said Policy, hereby modifies said Policy, as follows: 1. Notwithstanding anything"contained in said Policy to the contrary, the amount of insurance provided by said Policy,as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to the extent hereinafter specified.' 2. "Adjustment Date" is defined,for the purpose of thislnclorsement,to be 12:01 a. m.on the first January 1 which occurs more than six months after the Date of Policy,as shown in Schedule A of the Policy to which this Indorse- ment is attached,and on each succeeding January 1. 3. An upward adjustment will be made on each of the Adjustment Dates,as defined above, by increasing the maxi- mum amount of insurance provided by said Policy(as said amount may have been increased theretofore underthe terms of this Indorsement) by the same percentage,if any,by which the United States Department of Commerce Composite Construction Cost Index (base period 1967) for the month of September immediately preceding ex- ceeds such Index for the month of September one year earlier;provided,however,that the maximum amount of insurance in force shall never exceed 150% of the amount of insurance stated in Schedule A of said Policy, less the amount of any claim paid under said Policy which, under the terms of the Conditions and Stipulations,re- duces the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for years in which there is no increase in said Construction Cost Index. 4. In the settlement of any claim against the Company under said Policy,the amount of insurance in force shall be deemed to be the amount which is in force as of the date on which the insured claimant first learned of the assertion or possible assertion of such claim, or as of the date of receipt by the Company of the first notice of such claim,whichever shall first occur. Nothing herein contained shall be construed as extending or changing the effective date of said Policy. This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein, except as modified by the provisions hereof. First American Title Insurance Company BY PRESIDENT BY C. L. Kirk ASSISTANT SECRETARY NOTE: In connection with a future application for title insurance covering said land, reissue credit on premium charges (if applicable at all) will be allowed only upon the original face amount of insurance as stated in Schedule A of said Policy. FA—11 (9-30-74) Owner Inflation v 1 no'25"'rr161 l � tJ 1`1'00'03"W 41.13 ,1, I rr!U2 26"E RAD CD Lo � U1 R/1 �i 5 r,. t co r, rr �„ C• a : I •rs•0� .0 Ir, %J , 1, , r; '`;`•�� rn ( ; �r 1� Cl is 1 l--1 ':• I i E. 2000' rat,°U? 11 t), r„ *CONDITIONS AND STIPULATION (Continued from inside front cover) the Company for such insured, and all costs, or (b) a mortgage hereafter executed by an insured 11. LIABILITY LIMITED TO THIS POLICY attorneys' fees and expenses in litigation carried which is a charge or lien on the estate or interest on by such insured with the written authorization described or referred to in Schedule A, and the This instrument together with all endorse- of the Company. amount so paid shall be deemed a payment under ments and other instruments,if any,attached here- this policy. The Company shall have the option to to by the Company is the entire policy and con (c) When the amount loss or damage has tract between the insured and the Company. been definitely fixed in accordance with the con- apply to the payment of any such mortgage any ditions of this policy, the loss or damage shall be amount that otherwise would be payable hereunder Any claim of loss or damage, whether or not payable within 30 days thereafter. to the insured owner of the estate or interest cov- based on negligence, and which arises out of the ered by this policy and the amount so paid shall be status of the lien of the insured mortgage or of the 7. LIMITATION OF LIABILITY deemed apayment under this policy to said insured title to the estate or interest covered hereby, or owner. any action asserting such claim,shall be restricted No claim shall arise or be maintainable under The provisions of this paragraph 9 shall not to the provisions and conditions and stipulations of this policy(a)if the Company,after having received this policy. notice of an alleged defect,lien or encumbrance in- apply to an owner of the indebtedness secured by sured against hereunder, by litigation or other- the insured mortgage, unless such insured acquires No amendment of or endorsement to this wise, removes such defect, lien or encumbrance r- title to said estate or interest in satisfaction of said policy can be made except by writing endorsed indebtedness or any part thereof. hereon or attached hereto signed by either the establishes the title,or the lien of the insured mort- President, a Vice President, the Secretary, an gage, as insured, within a reasonable time after 10. SUBROGATION UPON PAYMENT OR Assistant Secretary, or validating officer or author- receipt of such notice;(b) in the event of litigation SETTLEMENT ized signatory of the Company. until there has been a final determination by a court of competent jurisdiction,and disposition of Whenever the Company shall have paid or No payment shall be made without producing all appeals therefrom, adverse to the title or to the settled a claim under this policy, all right of sub- this policy for endorsement of such payment un- lien of the insured mortgage, as insured, as pro- rogation shall vest in the Company unaffected by less the policy be lost or destroyed, in which case vided in paragraph 3 hereof; or (c) for liability any act of the insured claimant, except that the proof of such loss or destruction shall be furnished voluntarily admitted or assumed by an insured owner of the indebtedness secured by the insured to the satisfaction of the Company. without prior written consent of the Company. mortgage may release or substitute the personal 12. NOTICES, WHERE SENT liability of any debtor or guarantor, or extend or 8. REDUCTION OF INSURANCE; TERMINA— otherwise modify the terms of payment, or re- All notices required to be given the Company TION OF LIABILITY lease a portion of the estate or interest from the and any statement in writing required to be fur- lien of the insured mortgage, or release any nished the Company shall be addressed to it at its All payments under this policy, except pay- collateral security for the indebtedness, provided home office at 421 North Main Street,Santa Ana, ment made for costs, attorneys'fees and expenses, such act occurs prior to receipt by such insured California, 92701, or to the office which issued shall reduce the amount of the insurance pro tanto; of notice of any claim of title or interest adverse this policy. provided,however,if the owner of the indebtedness to the title to the estate or interest or the priority secured by the insured mortgage is an insured here- of the lien of the insured mortgage and does not under,then such payments,prior to the acquisition result in any loss of priority of the lien of the in- of title to said estate or interest as provided in sured mortgage. The Company shall be subrogated paragraph 2 (a) of these Conditions and Stipula- to and be entitled to all rights and remedies which tions,shall not reduce pro tanto the amount of the such insured claimant would have had against any insurance afforded hereunder as to any such in- person or property in respect to such claim had this sured, except to the extent that such payments policy not been issued, and the Company is here- reduce the amount of the indebtedness secured by authorized and empowered to sue,compromise by such mortgage. or settle in its name or in the name of the insured to the full extent of the loss sustained by the Com- Payment in full by any person or voluntary pany. If requested by the Company, the insured satisfaction or release of the insured mortgage shall shall execute any and all documents to evidence terminate all liability of the Company to an insured the within subrogation. If the payment does not owner of the indebtedness secured by the insured cover the loss of such insured claimant, the Com- mortgage, except as provided in paragraph 2 (a) pany shall be subrogated to such rights and reme- hereof. dies in the proportion which said payment bears to 9. LIABILITY NONCUMULATIVE the amount of said loss,but such subrogation shall be in subordination to an insured mortgage. If loss It is expressly understood that the amount of should resultfrom any act of such insured claimant, insurance underthis policy,as to the insured owner such act shall not void this policy, but the Com- of the estate or interest covered by this policy,shall pany, in that event, shall as to such insured be reduced by any amount the Company may pay claimant be required to pay only that part of any under any policy insuring (a) a mortgage shown or losses insured against hereunder which shall exceed referred to in Schedule B hereof which is a lien the amount, if any,lost to the Company by reason on the estate or interest covered by this policy, of the impairment of the right of subrogation.