Loading...
D1031014 6 -53 California Land Title Association Standard Coverage poky form Copyright 1950 Fee $ k�7 �,_ 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 o£: 1. Title to the land described in Schedule A being vested, at the date hereof, otherwise IM than as herein stated; or (e]� O 2. Unmarketability, at the date hereof, of the title to said land of any veatee named herein, unless such unmarketability exists because of defects, liens, encumbrances, or other matters shown or referred to in Schedule B; or W `I 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 INSURRANCE AND TRUST COMPANY by /SU(aw X (US PRESIDENT SECRETARY caj IOIPA 8.53 Californto lord Tills A .... irlior CoonCopyright 050 Pa Policy Foam SCHEDULE A Amount ;6,000.00 Date June 24, 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. 4277902 0 2. Description of land in the county of Los Angeles, state of California, title to which is insured by this policy: Lots 8, 9, and 10 of Tract 2111, in the city of El Segundo, county of Los Any -eles, state of California, as per map recorded in book 22 pave 141 of Maps, in the office of the county recorder of said county. 10178 8.53 Colifornia Lend Title hnaalatloe Standard Coverage Pont 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 occupany, 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 -1950, a lien not yet payable. ft'O 2. Covenants, conditions and restrictions contained in deeds from Los Angeles Trust and Savins_s Bank (or its successors) recorded prior to February 15, 1950 in book 6025 page 127 of d Deeds, as to Lo'_-, 8, book 6036 pace 83 of Deeds, as to Lot g, w and in book 6C2�; page 128 of Deeds, as to Lot 10, which provide that a violation thereof shall not defeat nor render invalid the lien of any raortage or deed of trust rnade in good faith and for value. 1�5'Q 1012 -C B -53 California land Title Association Stanford Caverrge Policy Form Copyright 1950 I. SCOPE OF COVERAGE This policy does not insure against, and the Company will not be liable for lose or damage created by or 'sing out of any of the following: (a) defects, liens, claim., encumbra er , or other matters which result in no pecuniary loss to the insured; (b) defects, liens, encumbrances, or other matters created o ring subsequent to the date hereof; (e) defects`. liens, cumbrances, or other matters created or suffered by the insured claiming much loss or damage; or (d) defects, liens, claim, m umbdnces, or m other ane's zisting at the due of this policy and known to the insured claiming such loss or damage, either at the date of this policy or at the due such insured claim- ant acquired an estate or forecast insured by this policy, unless such defect, lien, claim, encumbrance or other matter shall have been disclosed to the Company in writing prior to the issuance a of this policy or nppeared at the date of this policy the public records. Any rights or defenses of the Company against a named insured shall be equally availbbs against any person or corporation who .hall become an insured hereunder as successor of such named insured. 2. DEFENSE OF ACTIONS. NOTICE OF ACTIONS OR CLAIMS TO BE GIVEN BY THE INSURED The Company at its own cost shall defend the insured , It h1igui.. romiWmt, of actions or proceedings against the insured, or defense., restraining orders, or injunctions interpmed against a foreclosure or .ale of said land So .Sti.factl.. of any indebtedness, the owner of which is insured by this policy, which litip. tom is founded upon a defect, lien, encumbrance, or other mater insured against by this policy, and may pence much litiptio. t. final determination in the court of lest resort In case any such litigation shall become k.o.n to any insured, ar s se knowledge shell come to any insured of any claim of title or interest which is adverse to the title as ured or which might cause lose or damage for which the Company shall o may be liable by virtue of this policy, such insured shall notify the Company thereof in writing. If such notice shell not be given to the Company at least two days before the appearance day in any such litigatoos., or if such insured .hall .nl, is writing, promptly notify the Company of any defect, lien, encumbrance, or other matter insured .gains, or of any such adverse claim which shall tmou to the it ... ledge of such in ured, is respect to which Imes or damage is apprehended, then all liability of the Company as to each sr ured having much it ... led,. @hall cease and terminate; provided, however, that failure to so notify the Company shall in no case prep 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, up its .plot.., may be turiss.r, or desirable to establish the title, or any insured lien or charge, as insured. In all uses where this policy permits or requires the Company to prosecute or defend any .if.. or proceeding, the insured .ball secure to it in writing the right to so prosecute or defend such action or proceeding, and all appeals therein, and permit it to ua, 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 proc eeding, in ed t, ecling eenlemen ame.e og e - dence,obtaining wimmes, prosecuting or delevding such action or proceeding, to such extent and iv such manner as is deemed desirable by the Company, and the Company .hell reimburse the insured for any expense @o incurred. The Company .hall be subrogated to and be entitled to all cost and attorneys fees in. STIPULATIONS rurrsd or expended by the Company, which may be recoverable by the insured in any litigation carried n by the Company na behalf of the insured. The word 'knowledge" in this paragraph m actual knowledge, and don not refer to cane... dive knowl. edge o r notice which may be imputed to the insured by the public record.. 3. 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 shell be furnished to the Company within sixty days alter such less or damage shall have been an,rcunned. No action or proceeding for the recovery of any such loss or damage shall be instituted or maintained against the Company until efmr full compllavee by the insured with all the conditions imposed on the insured by this policy, nor unleSa co raced within twelve months after receipt by the Company of such write¢ statement. 4. OPTION TO PAY, SETTLE, OE COMPROMISE CLAIMS The Company rave v • the option m pay, settle, or ompromise for, or tin the stem of, the hosted any claim insured against or to pay this policy is full at any time, and payment or tender of payment of the full amount Of this policy, together with III accrued costs which the Company is obligated hereunder to pay, shall terminate all liability of the Company here. under, including all Obligations of the Company with respect to any litigation pending and subsequent costs thereof. 5. SUBROGATION UPON PAYMENT OR SETTLE- MENT Whenever the Company shall have settled a claim under this policy, it shall be .abrogated to and be entitled to all rights, securities, and remedies which the insured would have had against any person or property iv toped to much claim, had this policy not been Issued. If the payment does not cover the I... of the in ured, the Company shall be subrogated to such rights, securities, and remedies in the proportion which said payment bear. to the amount of said toes. In either event the insured shell transfer, or .muse to be transferred, to the Company each rights, securities, and remedies, and shall permit the Company to use the name of the insured in any transaction or litigation mvoly rte much rights, securities, or remedies. 6. OPTION TO PAY INSURED OWNER OF IN- DEBTEDNESS AND BECOME OWNER OF SECURITY The Company has the right sad optic., to IRS, any loss is claimed under this policy by an insured owner of an indebtedness secured by mortgage or deed of trust, to pay such insured the indebted... of the mortgagor or ..usme order said mortgage or deed of trust, together with ell cone which the Company is obligated hereunder to pay, in which case the Cam. pant, 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 there by secured, and such payment shall terminate all liability under this policy to such insured. 7. PAYMENT OF LOSS AND COSTS OF LITIGATION. INDORSEMENT OF PAYMENT ON POLICY The Company will pay, in addition to any loss insured against by this policy, all costs imposed upon the in. sured in litigation carried on by the Company (or the insured, and in litigiahm carried on by the i ured With the written uth.miwum ot the Comports, but at mlon rise. The liability of the Company under this policy shall in no care exceed, in all, the actual lon of the insured and ­1m which the Company is obligated hereunder to pay, and in n came shall such total liability exceed the amount of this policy and said coats. All payments under this policy shall reduce the • unt of the insurance pro tent., 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 owns of .aid land. No payment may be demanded by any insured without producing this policy for indorsement of such payment. B. MANNER OF PAYMENT OF LOSS TO INSURED Loss 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 abawn, and if such o nership seats in ..m than one, payment Shall be made ratably es 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 respec tine interests may appear. 11 there be an such iasured owner of indebtedness any loss shall be payable to the insured, and if more than one, to such insured notably as their respective interests may appear. 9. DEFINITION OF TERMS The following terms when used in this policy n s. (a) sued in ured ": the per.... and corporations 'mod a insured in Schedule A of this policy; (b) the insured ": ouch named insured together with (1) each successor in neoercbip of any Indebtad.ms secured by any mortgage or deed of trust shown in Schedule B, the commer of which lndebled.m. far named herein as favored. (2) any such c 0 sat ownership aof any such indebtedness who acquires' the •lend described in Schedule A or any pert thereof, by lawful mean. to ssisfactio. of Said indebtedness or any pert thereof, (3) any gc000 m oual agency or instrumentality acquiring said laud under an insurance contract or guarantee insuring or guar. anteeng said indebtedness or any part thereof, and (4) any person or corporation deriving an estate or imareet I. aid lead .. an heir or devisee of a vented insured or by r ra o. of the di..olnt q lon, argue, °n.olidatlon ofa corporate named i ured; (e) lend ": the land described apecifially or by reference in Schedule A and improvements adored throat. which by law constiwm red property; (d) "date ": the .act day, hour and minute specified is the firs line of Schedule A (unless the context clearly requires e different meaning) I (e) 'taxing agency ": the State and each county, city and county. city and district in Which aid land or come put thereof IS sitmsd that levies taxes o menu o real property; (Q "public record.": public records which, order the recording law., impart c ... tmuive umire of mat. ten ral.d.g to said land. 10. WRITTEN INDORSEMENT REQUIRED TO CHANGE POLICY No provision or condition of this policy can be waived r changed except by writing unclaimed hereon or at. inched hereto signed by the President, a Vice Pr ad. dent, the Secretary, or an Assatant Secretary of the Company. 11. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Cum. pa¢y shell be addressed to it at the oMce which sued this Policy. �1� �j� Yo AVE. /% P P 60 ti W 60 �Q o-Y � h HOLLY cR L TR qC r /V!'?/// THIS IS NOT A SURVEY OF THE LAND BUT IS COMPILED FOR INFORMATION ONLY FROM DATA SHOWN BY OFFICIAL RECORDS. �d