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D061S.C.B.T.U. `Form 14 -38—WM -� CW JP (,point Proteelion Policy) No. 1595758 � tle,Ynsurance, and gust Company a California corporation, herein called the Company, for a valuable consideration paid for this Policy of Title Insurance, Does Hereby Insure CITY OF EL SEGUNDO, a Municipal corporation. together with any other person or corporation included in the term "Insured" as defined in this Policy, against loss or damage not exceeding One Thousand Dollars, 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 therein stated; or by reason of unmarketability of the title of any vestee to or in said land, on account of defects, liens, encumbrances, and other matters existing, at the date hereof, and not shown in SCHEDULE B; or by reason of any defect in, or lien or encumbrance on said title, at the date hereof, OTHER THAN defects, liens, encumbrances, and other matters shown in SCHEDuLE B; or by reason of any defect in the execution, insofar as it affects the lien or charge upon said land, of any mortgage or deed of trust shown in SCHEDULE B securing an indebtedness, the owner of which is insured by this Policy; or by reason of priority thereto of any lien or encumbrance upon said land, at the date hereof, except as shown in SCHEDULE B; all subject, however, to the exceptions and conditions hereto annexed, which exceptions and conditions together with SCHEDULES A and B 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, this Thirteenth day of December 1938 at 8:30 A. M. TITLE INSURANCE AND TRUST COMPANY by kk_ ^, t; .L PRESIDENT e 4uefl: ASSISTANT SECRETARY T This policy consists of 4 pages which are numbered at the end of each page. -1- S.CAT.U� Form 1A- 6- 38-20M J. P. Form SCHEDULE A [1.] The title to said land is, at the date hereof, vested in CITY OF EL SEGUNDO, a Municipal corporation. [2.] The land referred to in this Policy is described as follows: P� Lot 5 in Block 8 of Tract No. 1685, in the City p of El Segundo, County of Los Angeles, State of California, as per map recorded in Book 21 Page 98 of Maps, in the office of the County Recorder of said County. -2- 5:\�4 S.C.B.T.U.,Fo m 1B,-&38 —MM J. P. Form SCHEDULE B Defects, liens, encumbrances, and other matters to which said title is subject in the order of priority shown: 1. Second installment general and special County and City taxes for the fiscal year 1938 -1939, Assessment 595991, amount $2.58. 2. An easement over said land for conduits, as reserved by Los Angeles Trust & Savings Bank, in deed recorded in Book 344 Page 137, Official Records, and by Pacific Southwest Trust & Savings Bank, in deed recorded ^' in Rook 4503 Page 341, Official Records. 3. Covenants, conditions and restrictions imposed by the deeds above mentioned, which provide among other things that a violation thereof shall not defeat nor render invalid the lien of any mortgage made in good faith and for value. 1 4. An easement over said land as needed for conduits, road purposes and incidental purposes, as reserved by Robert 1,'1ehler, in deed filed for record December 13, 1938. 5. A reservation of all minerals, coal, oils, petroleum and kindred substances and natural gas under and in said land, as provided in the deed above mentioned. —3— S.C.B.T.U. Form 1 -C— M -10.38 Los Angeles s ()Vs J. P. Form EXCEPTIONS THE COMPANY does not, by this Policy, insure against loss by reason o): [l.] Any facts which a correct survey and inspection of said land would show; claims or title to water; water rights; mining claims; rights or claims of parties in possession of any part of said land, ease. ments, liens, or encumbrances which are not shown by the official records of (a) the County of Los Angeles; (b) the Federal Offices at Los Angeles; (c) any City in which, or adjacent to which, said land is located. [2.] Assessments, taxes, or obligations levied or created for any public or district improvement or purpose, unless, at the date hereof, the amount of such assessment, tax, cur obligation, has been fixed, is payable, and is shown as a lien by the official records of (a) the County of Los Angeles; or (b) any City in which said land is located. [3.] Proceedings for public improvement, which, at the date hereof, are shown by the official records of any such city or county, but have not resulted in imposition of a lien upon, or establishment of an ease- ment over, or adjudication of the right to a public use of, said land or any part thereof. [4.] Action by any governmental agency for the purpose of regu- lating occupancy or use of said Land or any building or structure thereon. CONDITIONS [1.1 The term "the Insured" includes all named as insured on the first page of this Policy, and, as to each insured owner of an indebted- ness secured by mortgage or deed of cost shown in Schedule B, each successor in ownership of such indebtedness, and any owner thereof who acquires said land, or any part thereof, by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, or any part thereof, and, as to each other named Insured, if a person, any person or corporation deriving an estate or interest in said land m heir or devisee of such person, or if a corporation, any person or corpora- tion deriving an estate or interest in said land by dissolution, merger, or consolidation. [2.1 The Company at its own cost shall defend the Insured in all actions or proceedings commenced against the Insured founded upon a defect, lien, or encumbrance insured against by this Policy, and may pursue such litigation to final determination in the mutt of last resort. In case any such action or proceeding shall be begun, or in case knowl- edge shall tame 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 Policy, such In- sured shall at once notify the Company thereof in writing. If such notice shall not be given to the Company at least five days before the appearance day in any such action or proceeding, or if such Insured shall not, in writing, promptly notify the Company of any defect, lien, or encumbrance insured against, or any such adverse claim which shall mine 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, pro- ceeding, 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. 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 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. The word "knowledge" in this paragraph 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. [3.] The Company reserves the option to pay, settle, or compromise for, or in the name of, the Insured, any claim insured against or to pay this Policy in full, and payment or tender of payment of the full amount of this Policy, together with all costs which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. [4.] Whenever the Company shall have settled a claim under this Policy, it shall be subrogated to and be entitled to all rights, securities, and remedies which the Insured would have had against any person or property in respect to such claim, had this Policy not been issued, and the Insured shall transfer, or cause to be transferred, to the Com- pany such rights, securities, and remedies, and permit it to use the name of the Insured for the recovery, retention, or defense thereof. If the payment does not cover the loss of the Insured, the Company shall be subrogated to such rights, securities, and remedies in the proportion which said payment bears to the amount of said loss. [5.] The Company has the right and option, in case any loss is claimed under this Policy by an insured owner of an indebtedness se- cured by mortgage or deed of trust, to pay such Insured the entire indebtedness of the mortgagor or trustor under said mortgage or dad of trust, together with all costs which the Company is obligated here- under to pay, in which rase the Company 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. [6.] A statement in writing of any loss or damage 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 action or proceeding for the recovery of any such loss or damage shall be instituted or maintained 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 re- ceipt by the Company of such written statement. 17.1 The Company will pay, in addition to any loss insured against by this Polity, all costs imposed upon the Insured in litigation carried on by the Company for the Insured, and in litigation carried on by the Insured with the written authorization of the Company, but not other- wise. The Company will not be liable for loss or damage by reason of defects, claims, or encumbrances created subsequent to the date hereof or resulting in no pecuniary loss to the Insured, or for defects, claims, or encumbrances created or suffered by the Insured claiming such loss or damage, or 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, and not disclosed to the Company in writing. The li- ability of the Company under this Policy shall in no rase exceed in all the actual loss of the Insured and costs which the Company is obli- gated hereunder to pay and in no case shall such total liability exceed the amount of this Policy and said mats. All payments under this Policy shall reduce the amount of the insurance pro [anon, and pay. merit 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 ran be demanded by any Insured without producing this Policy for endorsement of such payment. [8.] Loss under this Polity shall be payable, first, to any insured owner of indebtedness secured by mortgage or deed of trust shown in Schedule B, in the order of priority therein shown, and if such owner. ship vests in more than one, payment shall be made ratably as their respective interests may appear, and thereafter, or if there be no such insured owner of indebtedness, any loss shall be payable to the other Insured, ratably as their respective interests may appear. [9.] No provision or condition of this Policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice- President, the Secretary or an Assistant Sec- retary of the Company. we R. T. S. 167 �4 LOT 5 BLOCK 8 OF TRACT 1685 THIS IS NOT A SURVEY OF THE LAND BUT IS COMPILED FOR INFORMATION ONLY FROM DATA SHOWN By OFFICIAL RECORDS.