D115To 1017 P C
California land Title Ansoolation
standard Covaraae Polio Parts
Copwlpht 1961
FOUNDED
TI
IN 1803
POLICY OF TITLE INSURANCE
ISSUED BY
Title Insurance and Trust Company
Title Insurance and Trust Company, a California corporation, herein called the Company, for a valuable
consideration paid for this policy, the number, the effective date, and amount of which are shown in
Schedule A, hereby insures the parties named as Insured in Schedule A, the heirs, devisees, personal repre-
sentatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against
loss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys fees and ex-
penses which the Company may become obligated to pay as provided in the Conditions and Stipulations
hereof, which the Insured shall sustain by reason of:
1. Any defect in or lien or encumbrance on the title to the estate of interest covered hereby in the land
described or referred to in Schedule C, existing at the date hereof, not shown or referred to in Schedule
B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or
2. Unmatketability of such title; or
3. Any defect in the execution of any mortgage shown in Schedule B securing an indebtedness, the
owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the
lien or charge of said mortgage upon the estate or interest referred to in this policy; or
4. Priority over said mortgage, at the date hereof, of any lien or encumbrance not shown or referred to
in Schedule B, or excluded from coverage in the Conditions and Stipulations, said mortgage being
shown in Schedule B in the order of its priority;
all subject, however, to the Conditions and Stipulations hereto annexed, which Conditions and Stipulations,
together with Schedules A, B and C, 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''^
PRRSIDSNr
Attest Y� '
SECRRTARY
TO 1012 AS C
California Load Title Anoolotion
Copyright verage FePolicy Form SCHEDULE A
Standard co 1961
Premium $ / G a ° a"
Effective
Amount $ 14,000.00 Date March 8, 1963 at 8 a.m. Policy No. 5988086
I N S U R E D
CITY OF EL SEGUNDO.
1. Title to the estate or interest covered by this policy at the date hereof is vested in:
CITY OF EL SEGUNDO,
2. The estate or interest in the land described or referred to in Schedule C covered by this policy is
a fee. 0000
SCHEDULE B
This policy does not insure against loss or damage by reason of the following:
PART I
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that
levies taxes or assessments on real property or by the public records.
2. 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.
3. Easements, claims of easement or encumbrances which are not shown by the public records.
4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a
correct survey would disclose, and which are not shown by the public records.
5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance
thereof; water rights, claims or title to water.
F I
TO 101zS Cont. C
California Land Title A .... iatla.
Standard Coverage Policy Form
Copyright 1961
SCHEDULE B— (Continued)
PART II
1. General and special county and city taxes for the fiscal
year 1963_1964, a lien not yet payable.
2. Covenants, conditions and restrictions in the deed from
Los Angeles Trust and Savings Bank, a corporation, recorded in
book 6116 page 102 of Deeds, and in book 6878 page 301 of Deeds,
said mentioned deeds having been recorded prior to February 15,
1950, which conditions provide that a violation thereof shall
not defeat nor render invalid the lien of any mortgage made in
good faith and for value.
3. Covenants, conditions and restrictions in the deed from City
of E1 Segundo, a municipal corporation, recorded February 21,
1949 in book 29419 page 122, Official Records, which conditions
provide that a violation thereof shall not defeat nor render
invalid the lien of any mortgage or deed of trust made in good
faith and for value.
1'= ,1
TO 1012 -10560 C
American TW. Association Loan Policy
Additi °n °I Coverage — October, 1960
°r
California Land Title Association SCHEDULE C
5tondard Coveroge Policy -1961
The land referred to in this policy is situated in the county of Los Angeles, state of California,
and is described as follows:
Lot 6 in block 14 of El Segundo Tract, in the city of El
Segundo, county of Los Angeles, state of California, as
per map recorded in book 18 page 69 of Maps, in the office
of the county recorder of said county.
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TT This is not a survey of the land but is compiled for information by the
1 Title Insurance and Trust Company from data shown by the official records.
4
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
6. OPTION TO PAY, SETTLE OR COMPRO-
MISE CLAIMS
The Company shall have the option to
pay or settle or compromise for or in the
time of the Insured any claim insured
against or to pay the full amount of this
policy, or, in case loss is claimed under this
policy by the owner of the indebtedness
secured by a mortgage covered by this
policy, the Company shall have the option
to purchase said indebtedness; such pur-
chase, payment or tender of payment of the
full amount of this policy, together with all
costs, attorneys' fees and expenses which the
Company is obligated hereunder to pay,
shall terminate all liability of the Company
hereunder. In the event, after notice of
claim has been given to the Company by
the Insured, the Company offers to purchase
said indebtedness, the owner of such in-
debtedness shall transfer and assign said
indebtedness and the mortgage securing the
same to the Company upon payment of the
purchase price.
7. PAYMENT OF LOSS
(a) The liability of the Company under
this policy shall in no case exceed, in all,
the actual loss of the Insured and costs and
attorneys' fees which the Company may be
obligated hereunder to pay.
(b) The Company will pay, in addition
to any loss insured against by this policy,
all costs imposed upon the Insured in litiga-
tion carried on by the Company for the In-
sured, and all costs and attorneys' fees in
litigation carried on by the Insured with the
written authorization of the Company.
(c) No claim for damages shall arise
or be maintainable under this policy (1) if
the Company, after having received notice
of an alleged defect, lien or encumbrance
not excepted or excluded herein removes
such defect, lien or encumbrance within a
reasonable time after receipt of such notice,
or (2) for liability voluntarily assumed by
the Insured in settling any claim or suit
without written consent of the Company,
or (3) in the event the title is rejected as
unmarketable because of a defect, lien or
encumbrance not excepted or excluded in
this policy, until there has been a final de-
termination by a court of competent juris.
diction sustaining such rejection.
(d) All payments under this policy, ex-
cept payments made for costs, attorneys'
fees and expenses, shall reduce the amount
of the insurance pro tanto and no payment
shall be made without producing this policy
for endorsement of such payment unless the
policy be lost or destroyed, in which case
proof of such loss or destruction shall be
furnished to the satisfaction of the Com-
pany; provided, however, if the owner of
an indebtedness secured by a mortgage
shown in Schedule B is an Insured herein
then such payments shall not reduce pro
tanto the amount of the insurance afforded
hereunder as to such Insured, except to the
extent that such payments reduce the amount
of the indebtedness secured by such mort-
gage. Payment in full by any person or
voluntary satisfaction or release by the in-
sured of a mortgage covered by this policy
shall terminate all liability of the Company
to the insured owner of the indebtedness
secured by such mortgage, except as pro-
vided in paragraph 2 hereof.
(e) When liability has been definitely
fixed in accordance with the conditions of
this policy the loss or damage shall be pay-
able within thirty days thereafter.
B. LIABILITY NONCUMULATIVE
It is expressly understood that the
amount of this policy is reduced by any
amount the Company may pay under any
policy insuring the validity or priority of
any mortgage shown or referred to in
Schedule B hereof or any mortgage here-
after executed by the Insured which is a
charge or lien on the estate or interest de-
scribed or referred to in Schedule A. The
provisions of this paragraph numbered B
shall not apply to an Insured owner of an
indebtedness secured by a mortgage shown
in Schedule B unless such Insured acquires
title to said estate or interest in satisfac-
tion of said indebtedness or any part thereof.
9. COINSURANCE AND APPORTIONMENT
(a) In the event that a partial loss oc-
curs after an alteration or improvement sub-
sequent to the date of this policy, and only
in that event, the Insured becomes a co-
insurer to the extent hereinafter set forth.
If the cost of the alteration or improve-
ment exceeds twenty per certain of the
amount of this policy, such proportion only
of any partial loss established shall be borne
by the Company as one hundred twenty per
centum of the amount of this policy bears
to the sum of the amount of this policy and
the amount expended for the alteration or
improvement. The foregoing provisions
shall not apply to costs and attorneys' fees
incurred by the Company in prosecuting or
providing for the defense of actions or
proceedings in behalf of the Insured pur-
suant to the terms of this policy or to costs
imposed on the Insured in such actions or
proceedings, and shall not apply to losses
which do not exceed, in the aggregate, an
amount equal to one per centum of the
face amount of this policy.
Provided, however, that the foregoing
coinsurance provisions shall not apply to
any loss if, at the time of the occurrence
of such loss, the then value of the premises,
as so improved, does not exceed the amount
of this policy, and provided further that
the foregoing coinsurance provisions shall
not apply to an insured owner of an in.
debtedness secured by a mortgage shown in
Schedule B prior to acquisition of title to
said estate of interest in satisfaction of said
indebtedness or any part thereof.
(b) If the land described or referred to
in Schedule C is divisible into separate and
noncontiguous parcels, or if contiguous
and such parcels are not used as one single
site, and a loss is established affecting one
or more of said parcels but not all, the loss
shall be computed and settled on a pro rata
basis as if the face amount of the policy
was divided pro rata as to the value on the
date of this policy of each separate inde-
pendent parcel to the whole, exclusive of
any improvements made subsequent to the
date of this policy, unless a liability or
value has otherwise been agreed upon as
to each such parcel by the Company and the
Insured at the time of the issuance of this
policy and shown by an express statement
herein or by an endorsement attached hereto.
10. SUBROGATION UPON PAYMENT OR
SETTLEMENT
Whenever the Company shall have set-
tled a claim under this policy, all right of
subrogation shall vest in the Company un-
affected by any act of the Insured, and it
shall be subrogated to and be entitled to
all rights and remedies which the Insured
would have had against any person or prop-
erty 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 and reme-
dies in the proportion which said payment
bears to the amount of said loss. If loss
should result from any act of the Insured,
such act shall not void this policy, but the
Company, in that event, shall be required to
pay only that part of any losses insured
against hereunder which shall exceed the
amount, if any, lost to the Company by
reason of the impairment of the right of
subrogation. The Insured, if requested by
the Company, shall transfer to the Company
all rights and remedies against any person
or property necessary in order to perfect
such right of subrogation, and shall per-
mit the Company to use the name of the
Insured in any transaction or litigation in-
volving such rights or remedies.
If the Insured is the owner of the in-
debtedness secured by a mortgage covered
by this policy, such Insured may release or
substitute the personal liability of any
debtor or guarantor, or extend or otherwise
modify the terms of payment, or release a
portion of the estate or interest from the
lien of the mortgage, or release any col-
lateral security for the indebtedness, pro-
vided such act does not result in any loss
of priority of the lien of the mortgage.
11. POLICY ENTIRE CONTRACT
Any action or actions or rights of action
that the Insured may have or may bring
against the Company arising out of the
status of the lien of the mortgage covered
by this policy or the title of the estate or
interest insured herein must be based on
the provisions of this policy.
No provision or condition of this policy
can be waived or changed except by writing
endorsed hereon of attached hereto signed
by the President, a Vice President, the Sec-
retary, an Assistant Secretary or other vali-
dating officer of the Company.
12. NOTICES, WHERE SENT
All notices required to be given the
Company and any statement in writing re-
quired to be furnished the Company shall
be addressed to it at the office which issued
this policy or to its Home Office, 433 South
Spring Street, Los Angeles 54, California.
13. THE PREMIUM SPECIFIED IN SCHEDULE
A IS THE ENTIRE CHARGE FOR TITLE
SEARCH, TITLE EXAMINATION AND TITLE
INSURANCE.
1F
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