D1011012 6 -53
California land Till. Ala.,i,,ti.n
Smndord Cevera9e Poliq Form
Cepyrieht 1950
Fee $ �� 9
POLICY OF TITLE INSURANCE
ISSUED BY
TITLE INSURANCE AND TRUST COMPANY
OF LOS ANGELES
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 A being vested, at the date hereof, otherwise
than as herein stated; or -1 1
2. Unmarketability, at the date hereof, of the title to said land of any vestee named
_1 herein, unless such unmarketability exists because of defects, liens, encumbrances,
F� O 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 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
by /7 %
. 7 4a4X �C. 46G
PRESIDENT
Attest
SECRETARY
1012A 8.53
California land Title Auoclation
Standard Coverage Pelky Form
Copyright 1950
A1°
Amount $22,000.00
0
SCHEDULE A
Date July 13, 1955 at 8 a.m.
INSURED
CITY OF EL SEGUNDO, a municipal corporation.
1. The title to said land is, at the date hereof, vested in:
CITY OF EL SEGUNDO, a municipal corporation.
Policy No. 4306055
2. Description of land in the county of Los Angeles, state of California, title to which is
insured by this policy:
Parcel 1: Lots 3 through 14 inclusive, 16, 17, and 19 through
24, inclusive in block 61, 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.
Parcel 2: Lot 5 of Tract No. 2111, in the city of El Segundo,
county of Los Angeles, state of California, as per map recorded
in book 22 page 141 of Maps, in the office of the county
recorder of said county.
Except all oil, gas, minerals or hydro- carbon substances under
said land, but without right of surface entry, as reserved by
Corporation of the Presiding Bishop of the Church of Jesus
Christ of Latter -Day Saints, a Utah corporation sole, in deed
recorded July 13, 1955•
10148 8.53
California load Title Auoclotion
Standard Coverage Policy Form
Copyright 1950 SCHEDULE B
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 page 1 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.
PART 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. General and special county and city taxes for the fiscal
year 1955 -1956, a lien not yet payable.
a`a
1012 -C 8.53
California Land Title Association
Standard Coverage Policy Form
Copyright 1950
1. SCOPE OF COVERAGE
This policy does not insure against, and the Company
will not be liable for los. or dome,. created by nr
arising out of any of the following: (a) defect., liens,
alai encumbrances, other matters which result in
no vectinh r, low r. the insured; (b) defects Yuma,
encumbrances, a, other matters created or occurring
subsequent to the date hereof; (c) defect., lien.,
umbraeces, or other matters created or angered by
the insured claiming much loss or damage; or (d)
defects, lien., claims. en umbAccem, or other matters
misting at the data of thin policy and known to the
insured claiming such loss or damage, either at the
date of this policy or at the date such insured claim-
ant acquired an wrote ar interest insured by this policy,
unless such defect, lien, claim, encumbrance or other
matter .hull love been disclosed ro the Company in
writing prior to the issuance of thin policy or appeared
at the date of thin policy on the public records. Any
rights or defenses of the Company against a named
insured shall be equally available against any Panama
or corporation who shall become an insured hereunder
as successor of such named insured.
2. DEFENSE OF ACTIONS. NOTICE OF ACTIONS
OR CLAIMS TO RE GIVEN BY THE INSURED
The Company at its own cost shall defend the insured
in all litigation Imn.fall., of actions m proceedings
against the insured, or defenses, restraining orders. or
injunctions interposed against a foreclosure or sale of
said lend to satisfaction of any indebtedness, the
owner of which is insured by this policy, which litige.
iion is founded up.. a defect, lien, encnmbrs.... me
other matter insured against by thin policy, and may
pursue such litigation to final determination in the
ours of last resart. In came any such litigation shall
become known to any insured. or in came knowledge
shall ...a to any insisted of may clam of title Or
interest which fn adverse to the title m ured or
which might cause loss or damage for which the
Company bell or may be liable by virtue of this
policy, such insured shall notify the Company thereof
in writing. If such notice shall not be given to the
Company at least 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, or other matter insured against, or
of any such surer.. claim which shall c me to the
knowledge of each fn ured, in rcipem to owhich loss
or damage is apprehended, [ben all liability of the
Company as to each insured having such knowledge
shall cease and terminate; provided, however, that
failure to eo notify the Company shall in no case prej-
udice the claim of any insured unless the Company
shall be actually prejudiced by such failure. The Com-
pany 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, u
insured. In all cases where this policy permits or
requires the Company to prosecute or defend any
action or proceeding, the insured shell secure to it in
writing the right to so prosecute or defend such action
or Dreenedirig, and all appeal. therein, and permit ft
to use, or fu option, the name of the insured for such
parliament. Whenever requested by the Company the
assured shell ...fit the Company in any .ueh action
or proceeding, in eRectfmg settlement, a r ring e .
donee, obtaining witnesses, prosecuting or defending
such action or proceeding, to such extent and in such
s is deemed desirable by the Company, and
the Company shell reimburse the insured for any
expense so incurred. The Company shall be eubrogated
to and be entitled to all cools and attorneys fees in.
STIPULATIONS
curred or expended by the Company, which may be
iscouvrnable by the insured in any litigation ..,,led
on by the Company on behalf of the insured. The
word "knowledge" in this paragraph means actual
knowledge, and does not refer to constructive knowl-
edge or notice which may be imputed to the insured
by he Public records.
S. NOTICE OF LOSS. LIMITATION OF ACTION
A statement in writing of any lose or damage for which
it I. claimed the Company is liable under this policy
shall be I ... Ahed to the Company within sixty day.
alter such less or damage shall have been ascertained.
No action or proceeding for the recovery of any such
lens or damage shall be instituted or maintained
against the Company until after lull compliance by
the insured with all the conditions imposed on the
insured by this policy, n unit. imemeremll within
twelve months after receipt by the Company of such
wrhteo statement.
4. OPTION TO PAY, SETTLE, OR COMPROMISE
CLAIMS
The Company no ryes 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 at
any rimy and payment or leader of Dement of the
full • ant of this policy, .,ether with all seemed
costa which the Company is obligated hereunder to pay,
.hall terminate all liability of the Company her.
under, including all Obligations of the Company with
repeat te any litigation pending sad subsequent cast.
thereof.
S. SURROGATION UPON PAYMENT OR SETTLE.
MENT
Whenever the Company shall have settled a claim
under this policy, it shell be subrogated to and be
entitled to all rights, securities, and remedies which
the fs ured ..old have had gains, any person or
property in respect to such claim, had thin policy not
been board. If the payment doe. not cover the loss
of the insured, the Company shall be subrogeted it,
such rights, securities, and remedies in the proportion
which said payment bears to the amount of said Iwo.
In either event the f.... ed shall transfer, or muse to
be transferred, to the Company such rights, securities,
and remedies, and sbell permit the Company to we
the .ante of the insured is any transaction or litigation
involving such rights, securities, or remedies.
6. OPTION TO PAY INSURED OWNER OF IN.
DESTEDNESS AND BECOME OWNER OF SECURITY
The Company has the right and option, In cue any
lose is claimed under this policy by in (vented owner
of no indebted.... se noted by mortgage or deed of
trust, to pay such insured the indebtedness of the
mortgagor or trustee under said mortgage or deed of
trust, together with all costs which the Company u
obligated hereunder to pay, he which case the Core.
pan, .hall become the o of, and each (.ured
shall at are assign end transfer to the Comp......Id
mortgage or deed of trust and the indebtedness there.
by secured, and such payment shall terminate all
liability under that policy to such insured.
y. PAYMENT OF LOSS AND COSTS OF LITIGATION.
INDORSEMENT OF PAYMENT ON POLICY
The Company will pay, in addition to any law insured
against by this policy, all cows imposed upon the fa
noted in litigation carried on by the Company for the
ured, and in litigation carried o. by the fn ured
with the written authorizations of the Company, but not
otherwise. The liability Of the Company under this
policy shall in no came teed, in all, the actual lass
of the ioeured and cost. which the Company is obligated
hereunder to pay, and i shall such total
liability a teed the amount not man
polity and said
torts. All payments under thin policy shall reduce the
amount of the insurance pro ionic, and payment of low
ore damage to an insured owner of indebtedness shall
reduce, to that extent, the liability of the Company to
the insured owner of amid lend. No payment may be
demanded by any insured without producing this policy
for indorsement of much payment.
S. MANNER OF PAYMENT OF LOSS TO INSURED
Loma under this policy shall be payable, first, to any
insured owner of indebtedness secured by mortgage or
deed of trust shown in Schedule B, in order of priority
therein shown, and if such ownership vests in more
than ..a, payment shell be made ratably as their
respective interests may appear, and thereafter any
low shall be payable In the other insured, and if more
than one, then to such insured ratably as their respe.
tive interests may appear. If there be no such Insured
vointimer of indebtedness, any Two shall be payable m
the insured, and if more than one, to such insured
ratably as their respective interests may appear.
9. DEFINITION OF TERMS
The following term. when used is chic policy tees.:
(Q "named fv ured ": the Penns and corporations
mad as insured in Schedule A of this policy; (b)
"the inured ": much named insured together with (1)
each successor I. ownership of any indebtedness
secured by any mortgage or deed of trust shown in
Schedule B. the owner of which iodeitednes. I.
named hereto es an insured, (2) any, much comer a,
successor in ownership of any much fndebedness who
acquires the lend described in Schedule A or any
part thereof, by lawful mere. is satisfaction aid
indebtedness or any part thereof, (3) any governmental
agency or instrumentality acquiring said land- under
an insurance contract at guamnlee (... ring On Rear-
antrum, said indebredenam or any part thereof, and
(d) any person or corporation deriving an estate or
interest is said lend as an heir or dent. of a named
insured or by reason of the dissolution, merger, or
wolidation of a corporate named insured; (c)
"land ": the land described specifically or by reference
in Schedule A and improvements affixed thereto which
by law constitute real properly ; (d) "date ": the
tact day, hoot god culture specified in the first line,
of Schedule A (unless the context clearly requires a
digere.I meaning) ; (e) "taalng gutty ": the Slate
and each a ..ty, .fly and aunty, city and district
in which said land Or some part thereof is situated that
levies tanes o meats no reel property; (f)
"public record.': those public records which, under
the e ordi.g Iowa, import constructive naive of met,
tars relativg to said Land.
10. WRITTEN INDORSEMENT REQUIRED TO
CHANGE POLICY
No provision or condition of this policy can be waived
or changed except by writing indorsed here.. or at.
tachid hereto signed by the President, a Vice Proof.
dent, the Secretary, or an Assistant Secretary of the
Company.
11. NOTICES, WHERE SENT
All Hollow required t. be Bistro the Co.,.., and any
statement in writing acquired to be furnished the Co..
pan, .hell be addressed to it at the office which bound
this policy.
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