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D077Form 1012 -1 7 -47 80M Celifomla Land Title Asweiation Standard Form Copyright 1947 (T. I. Revision 4.44) Premium $ / • O v Title Insurance and Trust Company a corporation of Los Angeles, California, herein called the Company, 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 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 satisfac- tion of said indebtedness or any part thereof, any federal agency or instrumentality acquiring said land under an insurance contract or guaranty insuring or guaranteeing 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 dissolution, merger, or consolidation of a cor- porate named insured, against loss or damage not exceeding the amount stated in Schedule A 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, '� \d unless such unmarketability 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 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. TITLE INSURANCE AND TRUST COMPANY b Sw. � da -� r7 YR�P.SIDSNT Attest.................... ....... .... ................ - -- ........ SECRETARY F.. 1012 -A 7 -47 100M Amount $ 500.00 eq SCHEDULE A Date November 14, 1947 at 7 :30 A, i.4, INSURED CITY OF EL SEGUNDO, a municipal corporation. 1. The title to said land is, at the date hereof, vested in CITY Oh EL SEGUdDO, a municipal corporation. M Policy No2?38107 2. Description of land in the County of Los Angeles, State of California, title to which (�r is insured by this policy: Lots 7 and 8 in Block 3 of M Segundo, in the City of El >egundo, as per niap recorded in Book 18 Page 69 of Prlaps, in the office of the County Recorder of said County. 3�d P ®m 1012 -8 7 -47 110M 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 construc- tive 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. Assessments 1946 and 1947 on Lots 7 and 8, respectively, amount ?63.5j" each, for improving Lateral Sewerage of District No. 2, Resolution 134, recorded April 220 1927 in the office IF of the Street Superintendent, City, of E1 Segundo, principal t- and interest payable in 10 annual installments collected with taxes beginning the fiscal ;rear 1927 -1928. An action to foreclose said assessments was commenced April 19, 1940 by City of E1 Segundo. Superior Court Case No. 451219. 14otice of Pendency of said action, was recorded April 19, 1940 in Hook 17399 Pae 305 Official Records. Form 1012 -C -1 7 -17 80M I4rir F 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 follow- ing: (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, encumbrance, or other matter shall have been dis- closed 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 become an insured hereunder as successor of such named insured. DEFENSE OF 2. The Company at its own cost shall defend ACTIONS the insured in all actions or proceedings against the insured founded upon a defect, lien, encumbrance, or other matter 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 the title as insured, or which might cause loss or damage for which the Company shall or may be liable NOTICE OF by virtue of this policy, such insured shall at ACTIONS once notify the Company thereof in writing. OR CLAIMS If such notice shall not be given to the Com- TO BE pany at least five days before the appearance GIVEN BY day in any such action or proceeding, or if THE INSURED 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 ter- minate; 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 insured lien or charge, as insured. In all cases where this policy per- mits 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 proceeding to such extent and in such manner as is deemed desirable by the Company, and the Company shall re- imburse the insured for any expense so incurred. The Com- pany shall be subrogated to and be entitled to all costs and attorneys' fees incurred or expended by the Company, which may be recoverable by the insured in any litigation carried on by the Company on behalf of the insured. 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. OPTION TO 3. The Company . reserves the option to PAY, SETTLE, OR pay, settle, or compromise for, or in the COMPROMISE name of, the insured, any claim insured CLAIMS against or to pay this policy in full at any time, and payment 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 Com- pany with respect to any litigation pending and subsequent costs thereof. SUBROGATION 4. Whenever the Company shall have set - UPON PAYMENT tied a claim under this policy, it shall be OR SETTLEMENT 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. 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. In either event the insured shall transfer, or cause to be transferred, to the Com- pany 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 INSURED OWNER option, in case any loss is claimed OF INDEBTEDNESS under this policy by an insured owner AND BECOME of an indebtedness secured by mort- OWNER OF gage or deed of trust, to pay such SECURITY insured the indebtedness of the mort- gagor or trustor under said mortgage or deed of trust, to- gether with all costs which the Company is obligated here- under to pay, in which case 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 indebt- edness 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 ascer- LIMITATION rained. No action or proceeding for the re- OF ACTION covery of any such loss or damage shall be instituted or maintained against the Company until after full compliance 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 LOSS AND any loss insured against by this policy, all COSTS OF costs imposed upon the insured in litigation LITIGATION. carried on by the Company for the insured, INDORSEMENT and in litigation carried on by the insured OF PAYMENT with the written authorization of the Com- ON POLICY pany, 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 in- surance pro tanto, and payment of loss or damage to an in- sured 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 insured without produc- ing this policy for indorsement of such payment. MANNER OF 8. Loss under this policy shall be payable, PAYMENT OF first, to any insured owner of indebtedness LOSS TO secured by mortgage or deed of trust shown INSURED in Schedule B, 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 in- sured, and if more than one, to such insured ratably as their respective interests may appear. DEFINITION 9. The term 'land" when used herein shall be OF LAND construed to include the land herein described specifically or by reference and improvements affixed thereto which by law constitute real property. WRITTEN 10. No provision or condition of this policy INDORSEMENT can be waived or changed except by writing REQUIRED TO indorsed hereon or attached hereto signed by CHANGE the President, a Vice - President, the Secretary, POLICY or an Assistant Secretary of the Company. 4F J So a1- X589 °59'E _ L GRAND AVE . L33 So „ „ „ 2 so �ac5 ¢ .3 2/�, h 143 7 h b 20 50 " " „ 11 So h 17 b h 2330 b° 8 /9 9 /a Io /O /7 12 d FRA/VKL /N H 0 so .� cvuN(w 1783 016'3 'E 50 3 2 So 4 h 143 7 h b 20 8 /9 9 /8 /O /7 /6 AVE 4 H VC EL SEGUNDO BLOCKS 3, 4, 29 AND 30 Z Q iL 0 w THIS IS NOT A SURVEY OF THE LAND BUT IS COMPILED FOR INFORMATION ONLY FROM DATA SHOWN BY OFFICIAL RECORDS. G