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D010Policy No. 1217202 TITLE GUARANTEE AND TRUST COMPANY a Corporation of Los Angeles, California, herein called the Company, for a valuable consideration paid for this Policy of Title Insurance, Does Hereby Insure CITY OF EL SEGUND02 together with each successor in ownership of any indebtedness secured by any mortgage or deed of trust .,� shown in Schedule B, the owner of which is named as an insured, and any such owner or successor in ownership of any such indebtedness who acquires the land described in Schedule A, or any part thereof, by lawful means in satisfaction of said indebtedness or any part thereof, and any person or corporation deriving an estate or interest in said land, as an heir or devisee of a named insured, or by reason of the dis- solution, merger, or consolidation of a corporate named insured, against loss or damage not exceeding Two Hundred Fifty Dollars ($250.00) — which any insured shall sustain by reason of title to the land described in Schedule A being vested, at the date hereof, otherwise than as herein stated; or by reason of unmarketability of the title of any vestee to said land, at the date hereof, unless such unmarket- ability exists because of defects, liens, encumbrances, or other matters shown in Schedule B; or by reason of any defect in, or lien or encumbrance on said title, existing at the date hereof, not shown in Schedule B; or by reason of 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 by reason of 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; all subject, however, to Schedules A and B and the stipulations herein, all of which schedules and stipula- tions are hereby made a part of this policy. In Witness Whereof, Title Guarantee and Trust Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, this 6th day of August 19Q0 at 8:30 A.M. TITLE GUARANTEE wxn TRUST COMPANY By A'or' W Attest Assistant Secretary. This Policy consists of 4 pages which are numbered at the end of each page. 1 e toy .„, sh oN by de Sol wh Ti TLE UARANTEE AND TRUST COMI'.1 \Y vrserioo: 411 WEST FIFTH STREET LOS ANGELES, CALIFORNIA G MADISON 4111 F_ ,BR I TT L. BOWKER Your No. .12IWEST GRAND AYE. .EL.SEGUNDOt CALI=ORNAA ' P L J F W PLEASE DETACH THIS PORTION AND RETURN WITH CHECK WHICH WILL BE YOUR RECEIPT LOT 4 BLK 42t EL SEGUNDO Your No. Date ITEM Charges Credits Balance ,M22'40 PMT IN A DV-15 L DOWKER 12 50 1'L AUG US '40 POLICY 12 50 RECD DD ANDERSON— CY OF EL SE UNDO FREE C e A-28 TITLE GUARANTEE AND TRUST COMPANY 1217202 by reason of 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 charge of such mortgage or deed of trust upon said land; or defect affects the lien or by reason of 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; all subject, however, to Schedules A and B and the stipulations herein, all of which schedules and stipula- tions are hereby made a part of this policy. In Witness Whereof, Title Guarantee and Trust Company has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, this 6th day of August 1940 at 8:30 A.M. TITLE GUARANTEE AxnTRUST COMPANY By A-or, President. Attest This Policy consists of Assistant Secretary, 4 pages which are numbered at the end of each page. 1 to said land is, at the date hereof, vested in CITY OF EL SEGUNDO, a municipal corporation. [2.] Description of the land, title to which is insured by this policy: Lot 4 in Block 42 of City of E1 Segundo, in the 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. Page No. 2 of Policy No. 1217202 1. Easements or liens which are not shown by the public records (a) of the District Court of the Federal District, (b) of the county, or (c) of the city, in which said land or any part thereof is situated. 2. Rights or claims of persons in possession of said land which are not shown by those public records which impart constructive notice. 3. Any facts, rights, interests, or claims which are not shown by those public records which impart con- structive notice, 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. S. Any governmental acts or regulations restricting, regulating or prohibiting the occupancy or use of said land or any building or structure thereon. [B] Liens and encumbrances to which said title is subject shown in the order of their priority, and defects and other matters to which said title is subject: (1) General and special taxes for the fiscal year 1940 -41. (2) Conditions, restrictions and reservations contained in the deed from Los Angeles Trust & Savings Bank, which provide among other things that the breach of said restrictions shall not defeat or render invalid the lien of any mortgage made in good faith and for value, re- corded in Book 5883 Page 289 of Official Records. Page No. 3 of Policy No. 1217202 SCOPE 1. This policy does not insure against, and the of Company will not be liable for lose or damage COVERAGE created by or arising out of any of the following: (a) defects, liens, claims, encumbrances, or other matters which result in no pecuniary loss to the insured; (b) defects, liens, encumbrances, or other matters created or occurring subsequent to the date hereof; (c) defects, liens, encumbrances, or other matters created or suffered by the insured claiming such loss or damage; or (d) defects, liens, encumbrances, or other matters existing at the date of this policy and known to the insured claiming such loss or damage, either at the date of this policy or at the date such insured claimant acquired an estate or interest insured by this policy, unless such defect, lien, claim, encum- brance, or other matter shall have been disclosed to the Company in writing prior to the issuance of this policy. Any rights or defenses of the Company against a named insured shall be equally available against any person or corporation who shall be- come an insured hereunder as successor of such named insured. DEFENSE OF 2. The Company at its own cost shall defend the ACTIONS insured in all actions or proceedings against the insured founded upon a defect, lien, encumbrance, or other mat- ter insured against by this policy, and may pursue such litigation to final determination in the court of last resort. In case any such action or proceeding shall be begun, or in ease knowledge shall come to any insured of any claim of title or interest adverse to the title as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this NOTICE OF policy, such insured shall at once notify the ACTIONS Company thereof in writing. If such notice OR CLAIMS shall not be given to the Company at least TO BE GIVEN BY five days before the appearance day in any THE INSURED such action or procee ding, or if such insured shall not, in writing, promptly notify the Company of any defect, lien, encumbrance, or other matter Insured against, or of any such adverse claim which shall come to the knowledge of such insured, in respect to which loss or damage is apprehended, then all liability of the Company as to each insured having such notice in regard to the subject of such action, proceeding, or claim shall cease and terminate; provided, however, that failure to so notify shall in no case prejudice the claim of any insured unless the Company shall be actually prejudiced by such failure. The Company shall have the right to institute and prosecute any action or proceeding or do any other act which, in its opinion, may be necessary or desirable to establish the title, or any in- sured lien or charge, as insured. In all cases where this policy permits 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 appeals therein, and permit it to use, at its option, the name of the insured for such purpose. Whenever requested by the Company the insured shall assist the Company in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, prosecuting or defending such action or pro- ceeding to such extent and in such manner as is deemed desir- able by the Company, and the Company shall reimburse the insured for any expense so incurred. The Company shall be subrogated to and be entitled to all costs and attorney's fees incurred or expended by the Company, which may he recover able by the insured in any litigation carried on by the Company on behalf of the insured. The word "knowledge" in this para- graph means actual knowledge, and does not refer to constructive knowledge or notice which may be imputed to the insured by reason of any public record or otherwise. OPTION TO 3. The Company reserves the option to pay, PAY. SETTLE. OR settle, or compromise for, or in the name of, COMPROMISE the insured, any claim insured against or to CLAIMS pay this policy in full at any time, and pay. ment or tender of payment of the full amount of this policy, together with all accrued costs which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder, including all obligations of the Company with respect to any litigation pending and subsequent costs thereof. SUBROGATION 4. Whenever the Company shall have settled UPON PAYMENT a claim under this policy, it shall be subro- OR SETTLEMENT gated to and be entitled to all rights, securi- ties, and remedies which the insured would have had against any person or property in respect to such claim, had this policy not been issued. If the payment does not cover the loss of the insured, the Company shall be subrogated to such rights, securi- ties, and remedies in the proportion which said payment bears to the amount of said loss. In either event the insured shall transfer, or cause to be transferred, to the Company such rights, securities, and remedies, and shall permit the Company to use the name of the insured in any transaction or litigation involving such rights, securities, or remedies. OPTION TO PAY 5. The Company has the right and option, INSURED OWNER in case any loss is claimed under this OF INDEBTEDNESS policy by an insured owner of an indebt- AND BECOME ednem secured by mortgage or deed of OWNER OF BecuRtTv trust, to pay such insured the indebted - Hess of the mortgagor or truster under said mortgage or deed of trust, together with all costs which the Company is obligated hereunder to pay, in which case the Com. party shell become the owner of, and such insured shall at once assign and transfer to the Company said mortgage or deed of trust and the indebtedness thereby secured, and such payment shall terminate all liability under this policy to such insured. NOTICE OF 6. A statement in writing of any loss or damage LOSS for which it is claimed the Company is liable under this policy shall be furnished to the Company within sixty days after such loss or damage shall have been ascertained. No LIMITATION action or proceeding for the recovery of any of ACTION such loss or damage shall be Instituted or main- tained against the Company until after full com- pliance by the insured with all the conditions imposed on the insured by this policy, nor unless commenced within twelve months after receipt by the Company of such written statement. PAYMENT OF 7. The Company will pay, in addition to any LABS AND loss insured against by this policy, all costs COSTS OF imposed upon the insured in litigation Carried LITIGATION, on by the Company for the insured, and in liti- INDORSEMENT OF PAYMENT g ation carried on b y the insured with the writ- ON POLICY ten authorization of the Company, but not otherwise. The liability of the Company under this policy shall in no case exceed, in all, the actual loss of the insured and costs which the Company is obligated hereunder to pay, and in no case shall such total liability exceed the amount of this policy and said costs. All payments under this policy shall reduce the amount of the insurance pro tanto, and payment of loss or damage to an insured owner of indebtedness shall reduce, to that extent, the liability of the Company to the insured owner of said land. No payment may be demanded by any in- sured without producing this policy for indorsement of such payment. MANNER OF g. Loss under this policy shall be payable, first, PAYMENT OF to any insured owner of indebtedness secured by LOSS TO mortgage or deed of trust shown in Schedule B, INSURED in order of priority therein shown, and if such ownership vests in more than one, payment shall be made ratably as their respective interests may appear, and thereafter, any loss shall be payable to the other insured, and if more than one, then to such insured ratably as their respective interests may appear. If there be no such insured owner of indebtedness, any loss shall be payable to the insured, and if more than one, to such insured ratably as their respective interests may appear. WRITTEN 9. No provision or condition of this policy can INDORSEMENT be waived or changed except by writing in- REQUIRED TO dorsed hereon or attached hereto signed by the CHANGE President, a Vice - President, the Secretary, or POLICY an Assistant Secretary of the Company. Page No. 4 of Policy No. 1217202 C 5� t7) A/ r- 50 ,,,o "epp--z� 2 07 E6 3 25 74- 4 57' ro z 7: �8- z /7 w J6 14 13 Z, n� � AIOL L Y -) I - -1 L AVE. 140 � co so �51-L 33 32 19 Zq LU ---AVE- 14o (2 zo zz Zf 19 140. -- N qG 140 , lk 16 35 33 3z 31 1.3 N 2.9