D011Policy No. 1213664
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 SEGUM
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 &mdred Fifty Dollars (1250.00)-- -
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 3rd day of July 1940 at 8.30 A.M.
TITLE GUARANTEE AND TRUST COMPANY
Bq President.
Attest irk' d
Assistant Secretary.
This Policy consists of 4 pages which are numbered at the end of each page.
CTTY OF EL SEGUNDO,
a municipal corporation.
[2.] Description of the land, title to which is insured by this policy:
Lot 5 in Block /+2 of El Segundo, in the City of E1 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.
Page No. 2 of Policy No. 1213664
SCHEDULE B
[A) The Company does not, by this policy, insure against loss by reason of:
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.
5. 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 of the fiscal year 1940 -41.
(2) Conditions, restrictions and reservations contained in the deed
from Los Angeles Trust & Savings Beak, which provide among other things
that a violation thereof shall not defeat or render invalid the lien of
W mortgage made in good faith and for value, recorded in Book 5290
Page 247 of Deeds.
0 0 0 0 0 0 0 0 0
Page No. 3 of Policy No. 1213664
STIPULATIONS
SCOPE 1. This policy does not insure against, and the
OF Company will not be liable for loss 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 case knowledge shall
come to any insured of any claim of title or interest adverse to
Too, 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 five days before the appearance day in any
GIVEN BY
THE INSURED such action or proceeding, or if such insured
shall riot, 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 mass 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 each 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 be 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.
Page No. 4
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 pro pperty in respect to such claim, bad this policy
not been issued. If the payment does not cover the loss of the
insured, the Company shall be subrogmed 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 $. 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 edness secured by mortgage or deed of
OWNER OF
SECURITY trust, to ay such insured the indebted -
Hess of a mortgagor or troetor under
said mortgage or deed of trust, together with all costs which the
Company is obligated hereunder to pay, in which case the Com-
pany shall 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 ITATI 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
LOSS 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-
OF PAYMENT
INDORSEMENT gat . on carried on by the insured with the writ -
ON POLICY ten authorizntion 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 fn•
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.
of Policy No. 1M0164
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