Loading...
D0011012 -25 9.56 California tend Title Association Standard Ceverace Policy Form Ceoyri9ht 1950 POLICY OF TITLE INSURANCE ISSUED AT THE OFFICE OF NATIONAL TITLE DIVISION OF TITLE INSURANCE AND TRUST COMPANY 126 WEST THIRD STREET, LOS ANGELES 13, CALIFORNIA Title Insurance and Trust Company, a corporation, of Los Angeles, California, herein called the Com- pany, for a valuable consideration paid for this policy of title insurance, the number, date, and amount of which are shown in Schedule A, does hereby insure the parties named as Insured in Schedule A, together with the persons and corporations included in the definition of "the insured" as set forth in the stipulations of this policy, against loss or damage not exceeding the amount stated in Schedule A which the insured shall sustain by reason of: 1. Title to the land described in Schedule C being vested, at the date hereof, otherwise than as herein stated; or 2. Unmarketability, at the date hereof, of the title to said land of any vestee named herein, unless such unmarketability exists because of defects, liens, encumbrances, or other matters shown or referred to in Schedule B; or 3. Any defect in, or lien or encumbrance on, said title, existing at the date hereof, not shown or referred to in Schedule B; or 4. Any defect in the execution of any mortgage or deed of trust shown in Schedule B securing an indebtedness, the owner of which is insured by this policy, but only insofar as such defect affects the lien or charge of such mortgage or deed of trust upon said land; or 5. Priority, at the date hereof, over any such mortgage or deed of trust, of any lien or encumbrance upon said land, except as shown in Schedule B, such mortgage or deed of trust being shown in the order of its priority in Part Two of Schedule B; all subject, however, to Schedules A, B and C and Stipulations herein, all of which schedules and stipulations are hereby made a part of this policy. In Witness Whereof, Title Insurance and Trust Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers on the date shown in Schedule A. by TITLE INSURANCE AND TRUST COMPANY ,JCS. PRESIDENT d' Attest SECRETARY I ._.__.[. ' _.. _.... 1012D 25 9.56 Colifornfo Land Till. Atretloll.. Standard Cos.mge Pelicy form Copyright 1950 1. SCOPE OF COVERAGE This policy does not insure against, and the Company will now be liable for loss or damage created by or rising out of any of the following: (a) defects, Den., claims, encumbmser., or other manes which reach I. me pecuniary Ire. 1. the insured; (b) defect., liens, encumbrances, or other ..,tare created or occurring subsequent to the date hereof; (c) defects, liens, encandbrances. or other matters created or suffered by the insured claiming each toe• or damage; or (d) defect., Item, claims, erroadoneee, or other matter. sitting at the date of this policy and known to the insured claiming such less or damage. either at the date of this policy or at the date such insured claim- ant acquired an estate or interest insured by this policy, unless such defect, lien, claim, encumbrance or other mater shell have been disclosed to the Company in writing prior to the I..umce of this polies or appeared at the date of this policy on the public records. Any right. or defenses of the Company agaimt a named insured shall be equally available against any person or corporation who shall become an insured hereunder are suecesaor of much named insured. 2. DEFENSE OF ACTIONS. NOTICE OF ACTIONS OR CLAIMS TO BE GIVEN BY THE INSURED The Company at its we cost •halt defend the in ured is all litigation c nesting of action. or proceeding. against the insured, or defense., reen.b.i., orders, a injunction. interposed .,am., o forecloame, or sale of x.41 Imd I. eaW(ection of my indebtedneea, the r of which is insure) by this policy. which litiga. tion is founded upon a defect, lien, encumbrance, or .,be, mater fn.ured again•, by thin policy, sad may pursue much Iltigatfon to final determination in the curt of leer resort. In over any much litigation .hall become known to any insured, or , a knowledge .h ell come to any i ured of any claim of title or interest which f. adverse to the title a ured or which might a a ate toe. or damage for which the Company .hall o may be liable by ulnae of this policy, such insured .hall notify the Company thereof in writing. If much notice .hall not be given to the Company at beat two days before the appearance day in any such litigation, or if such insured shall not, in writing, promptly notify the Company of any defect, lien, encumbrance, o r other mater insured against, or of any much adverse claim which shall cmus to the knowledge of such insured, in respect to which loss or damage ins apprehended, then all liability of the Company as to each insured having such knowledge .hell cease and terminate; provided, however, that failure to so notify the Company .hall in no case prej- udice the claim of any insured unless the Company .hell be eromll, prejudiced by such failure. The Cam Perry shall have the right to institute and prosecute any action or proceeding ner do any other am which, t ire opinion, may be rterears.ty or desirable m establish the Iftle, or any Insured lie.., ebarge, we insured. In all reed where this policy permit. or requires the Company to prosecute or defend any action or proceeding, the insured shall secure to it in writing the right to so prosecute or defend such action or proceeding, and all appeal. therein. and permit it to use,.., its option, the name of the immured for such purpose. Whenever requested by the Company the insured shall easier the Company in any much action or proceeding, in e8ectle, eenlowent, a ring e dente, obtaining witnesses, prosecuting or defending much action or proceeding, to .u.h event and in much or . ire deemed desirable by the Company, and the., the shell reimburse the insured for any expense m Incurred. The Company shell be subrogated to and be entitled to all costa and ano..eye fee. in STIPULATIONS eurred or expended by the Company, which mry he recoverable by the insured in any litigation carried on by the Company on behalf of the insured. The word "knowledge" in thin paragraph m actual knowledge, and does not refer to constructive knowl. edge or notice which may be imputed to the insured by the public records. 2. NOTICE OF LOSS. LIMITATION OF ACTION A statement in writing of any lass or damage for which it is claimed the Company is liable under this policy .halt be furnished to she Company within sixty dose after such tom or damage shall base been avcenafn.d. No action or proceeding for the recovery of any much loss or damage shell be instituted or maintained against As Company ..it) .her full compliance by the insured with all the condition. imposed on the insured by this policy, nor unless commenced within twelve months after receipt by the Company of such written amtement. 4, OPTION TO PAY, SETTLE, OR COMPROMISE CLAIMS The Company reserves the option to pay. metric or ompromiss for, o n be m of. the insured. any claim insured against or to pay this policy in lull at any time, end payment or tender of payment of the full a um of this policy, together, with all seemed cuss which the Company I. obligated hereunder to pay, shall terminate all liability of the Company here- under, including all obligation. of the Company with respect to any litigation pending and mbeequent coat. thereof. S. SUBROGATION UPON PAYMENT OR SETTLE. MEN! Whenever the Company shall have ..tried u claim under this policy, it shall be vubrogated to and be entitled to all rights, securities, and remedies which the insured would have had against any person or Property fn respect to much claim, had this policy not been issued. If the payment does not ever the loss of the insured, the Company shall be submpted to uch rights, escurtties, and remedies in the p,.pocti.. which .aid Payment bear. to the amount of raid lose. In either event the insured shall traveler, or cause to be transferred, to the Company such right., securities, and remedies, and shall permit the Company to use the name of the insured in any transaction or litigation involving such right., securities, or remedies. 6. OPTION TO PAY INSURED OWNER OF IN• D EBTEDNESS AND BECOME OWNER OF SECURITY The Company has the right and option, in ca m any loo ire claimed under, Mir policy by an insured o s of an lndebled.e.. metered by mortgage or deed of trust. to pay much insured the indebtedneer of the mortgagor or truster under said mortgage or deed of truer, mgaher, with aH cute which the Company is obligated hereunder to pay, in which cave the Core. pan, shall become the o .1, end such insured .hall at on ...I,. and transfer 1. the Company, said mortgage or deed of ,..I and the f.deb,cJ.eae $here- by secured and much payment shall terminate all liability under this policy to verb Insured. 7. PAYMENT OF LOSS AND COSTS OF LITIGATION. INDORSEMENT OF PAYMENT ON POLICY The Company will pay, in addition to any loss insured ogalnst by this policy, all come. imposed upon the ins ured in litigation carried on by the Company for the insured, and in litigation carried on by the insured with the o uen mutho lealion .1 the Company, but out otherwise. The liability of the Company under this policy shell in no rv.e crowed, in all, the actual loss of the insured and carte which the Company is obligated hereunder to pay, and In no e shall such total liability emceed the amount of this policy end amid coat.. All Daymems under thin policy shall reduce the amount of the insurance pro Canto, and payment of loss or damage to an cured owner of indebtedness shall reduce, to that extent, the liability of the Company 1. the Insured waves s of said lend. No payment may be demanded by any insured without producing this policy for lndonement of such payment. 8. MANNER OF PAYMENT OF LOSS TO INSURED Loa. under this policy shall be Payable, first, to any insured owner of indebtedness secured by mortgage me deed of trust shown in Schedule B, in order of priority them!. shown, and if much oe etabip seas In more than o as, payment shell be made ratably as their eepective interest. may appear, and the r..il any Iowa shall be payable to the other insured, and if more then .... then to such insured ratably a their respec. tive interests may appear. if there be no uch insured or of indebtedness, any, La .b s all be Payable to the in ured, and if m are then one, to such insured ratably are their respective interest. mmy appear. 9. DEFINITION OF TERMS The follow{., telms when need in 'him Policy mean: (a) "named insured": the person. and corporations mad a• insured in Schedule A of this policy; (b) "the inaae8": such named insured together with (1) each sure..... in ownership of any indebtedness secured by any mortgage or deed of trust shown in Schedule B, the weres of which indebtedneea is named herein as ured, (2) any such owner, or • ownership sof any such indebtedness who acquires the Oland described in Schedule C or any part thereof, by lawful means in ..14ftelm. of said indebtedness or any part 'hereof, (3) any governmental agency or Instrumentality acquiring said land under an ranee contract or guarantee insuring or guar. .meting said indebtedneea or any pat thereof, and (4) any person .1 corporation deriving a e.late a inter..' in said land at on heir or devisee of a named insured or by reason of the dissolution, merger, or consolidation of a corporate named insured ; (c) "lend ": the load described specifically or by reference to Schedule C and improvements affixed thereto which by law c o nstitute real property; (d) "date ": the exact day, hour and .,rallied in the fir.' line of Schedule A (unless women, the context clearly requires . different meaning); (e) "lasing .gene, ': the State and each county, city and county, city and district is which said )and ner some part thereof ire .ioneted that levies cad or mmra we teal property; (Q "public records': those public records which, under the recording laws, impart constructive notice of moo use relating to .aid lend. 10. WRITTEN INDORSEMENT REQUIRED TO CHANGE POLICY No muslabon we condition of this Smiley can be waived e changed except by writing indo ... d hereon mr ao ached hereto signed by the President, a Vice Presi. dent, the Secretary, or an Assistant Secretary of the Company, 11. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Core pony shall be addressed to it at the office which Issued this policy. 1F; PONIOR 0 LOT 2 3 XOM 98 OF RL OED= r {s 90 L l�9[yu� grc p � U N y ryE i_4 ^.0 BUT IS COMPILED FOR INFORMATION ONLY FROM DATA SHOWN BY OFFICIAL RECOFP- 101 2A-B 9.56 California load Titla A ...tatlon Standard Coraraaa MICY form C.Wftht 1950 Amount $4,200.00 Fee $47.50 CITY OF EL SEGUNDO OP/ic 4,1 6YWIDL1 MAW, Date January 21, 1957 at 8 :00 a.m. The title to said land is, at the date hereof, vested in: CITY OF EL SEGUNDO, a municipal corporation. SCHEDULE B Policy No. 449412 This policy does not insure against loss by reason of the matters shown or referred to in this Schedule except to the extent that the owner of any mortgage or deed of trust shown in Part Two is expressly insured in paragraphs numbered 4 and 5 on the first page of this policy. PART ONE: This part of Schedule B refers to matters which, if any such exist, may affect the title to said land, but which are not shown in this policy: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing agency or by the public records; and easements, liens or encumbrances which are not shown by the public records. 2. Rights or claims of persons in possession of said land which are not shown by the public records. 3. 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, or by a correct survey. 4. Mining claims, reservations in patents, water rights, claims or title to water 5. Any laws, governmental acts or regulations, including but not limited to zoning ordinances, restricting, regulating or prohibiting the occupancy, use or enjoyment of the land or any improvement thereon, or any zoning ordinances prohibiting a reduction in the dimensions or area, or separation in ownership, of any lot or parcel of land; or the effect of any violation of any such restrictions, regulations or prohibitions. 10115 Cont. 9.56 St nra rd over Titles bwform S C H E D U L E B— (Continued) Standard Coverage Polfcy form Copyright 1950 PAwr Two: This part of Schedule B shows liens, encumbrances, defects and other matters affecting the title to said land or to which said title is subject: 1. Second installment of general and special county and city taxes for the fiscal year 1956 -1957, amount $5.49. 2. All rights of way for pipe lines and appurtenances thereto running through or located upon said land, as granted to Arena Water Company, by deed recorded in book 5505 page 294 of Deeds, and as recited in deed from Los Angeles Trust & Savings Bank, recorded prior to February 15, 1950 in book 7435 page 238 of Deeds. 3• Covenants, conditions and restrictions contained in the last above mentioned deed. 1012C 9 56 Land Association Standard Car rre9. P olicy Form s SCHEDULE C Copyright 1950 The land referred to in this policy is situated in the county of Los Angeles, state of California, and is described as follows: The south 50 feet of the north 175 feet of Lot tin Block 98 of E1 Segundo, in the city of El Segundo, county of Los Angeles, state of California, as per map recorded in book 20 pages 22 and 23 of Maps, in the office of the county recorder of said county. 9` I :. "ivAF's%'�1�1�+'�i '�S. 7R+ g4MRVM16M1 '�M1SM1YWk= l'rre�ifitiNVM1\Y"T+"'V� �1e �. p�wnkpry 9R9' M1'•#, nSbT' Irvauayywove puq�yr}�m��+ow`?`m^.rrrv'v'4aRw yr wr �, . i I w, n ,`ilp w.', 1U w.'{HuShLi` '1 rN'!. ".i,�T.C:Rn. +. t�l �t ih�iS�l�A ?'i{' .IIF '{TPYiq'•1'�'i N.M1IN.11 i.: +f�`q�e.,+ry '��n .1 ,�vp. a'Y6' F V, i + : +d` +�° 9i4fi�fiT.�Cdk, �h��.. 4U:d t, +, os s5!S +t. +'Ts t>,vYf. re5 •••. � t +,. ", s NIIIIII Q C S N n -i C ''Ili •�'� '� y i. .: - .. . �5r 3N- 4ri:u. SAr rn ;:4. wl J7��1.�, +Pa J6 n .! AP Sy. � . . .•�hF ' "rSM� •, '� i �i'