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SAFECO
CLTA -1973
STANDARD COVERAGE
POLICY OF TITLE INSURANCE
issued by
SAFECO TITLE INSURANCE COMPANY
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, SAFECO
TITLE INSURANCE COMPANY, a California corporation, herein called the Company, insures the
insured, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the
amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses which the Company
may become obligated to pay hereunder, sustained or incurred by said insured by reason of:
1. Title to the estate or interest described in Schedule A being vested other than as
stated therein;
2. Any defect in or lien or encumbrance on such title;
3. Unmarketability of such title; or
4. Any lack of the ordinary right of an abutting owner for access to at least one
physically open street or highway if the land, in fact, abuts upon one or more such
streets or highways;
and in addition, as to an insured lender only:
5. Invalidity of the lien of the insured mortgage upon said estate or interest except
to the extent that such invalidity, or claim thereof, arises out of the transaction
evidenced by the insured mortgage and is based upon
a. usury, or
b. any consumer credit protection or truth in lending law;
6. Priority of any lien or encumbrance over the lien of the insured mortgage, said
mortgage being shown in Schedule B in the order of its priority; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment
is shown in Schedule B.
P-218 (G.S.) Rev. 8 -73
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SCHEDULE A
Policy No. 7726066 -44
Charge $532.25
Amount of Insurance: $150,000.00
Date of Policy: September 23, 1977 at 8:00 A.M.
1. Name of Insured:
CITY OF EL SEGUNDO,
a Municipal corporation
2. The estate or interest in the land described herein and which is
covered by this policy is:
a fee
3. The estate or interest referred to herein is at Date of Policy
vested in:
CITY OF EL SEGUNDO,
a Municipal Corporation
4. The land referred to in this policy is situated in the State of
California, County of Los Angeles, and described as follows:
Exhibit I attached hereto and made a part hereof.
EXHIBIT I
PARCEL 1:
7760667 -44
Lots 1 and 2, in Block 38, of E1 Segundo, Sheet 7, in the City of E1
Segundo, County of Los Angeles, State of California, as per map recorded
in Book 22, Pages 54 and 55 of Maps, in the office of the County Recorder
of said County, and that portion of Arena Street (vacated), bounded as
follows:
Bounded on the North by the South line of the Pacific Electric railway
right of way; bounded on the East by the Westerly line of said Lot 1;
bounded on the South by the Westerly prolongation of the Southerly line
of said Lot 1; bounded on the West by the center line of said vacated
Arena Street.
PARCEL 2:
The Westerly 25.00 feet of that portion of Arena Street, as vacated by
Resolution No. 1364, of the City Council of the City of E1 Segundo, and
recorded in Book 43168, Page 143 official Records, lying between the
North line of Grand Avenue and the South line of the Pacific Electric
Railway right of way as shown on the map recorded as E1 Segundo Sheet
No. 7, in the City of E1 Segundo, County of Los Angeles, State of California,
as per map recorded in Book 22, Pages 54 and 55 of Maps, on file as
aforesaid.
APPrO as to WM Ond
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Data. - »l
APi. ai. aei•vand
Data...._ ... ». ` .
P -218 -B (G.S.) Bev. 8 -73
California Land Title Association
Standard Coverage Policy -1973
SCHEDULE B
This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any
or all of which arise 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.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings,
whether or not shown by the records of such agency 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 the land or by making inquiry of persons in possession thereof.
3. Easements, liens or encumbrances, or claims thereof, 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. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance
thereof; (c) water rights, claims or title to water.
6. Any right, title, interest, estate or easement in land beyond the lines of the area specifically described or referred
to in Schedule A, or in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing in this
paragraph shall modify or limit the extent to which the ordinary right of an abutting owner for access to a
physically open street or highway is insured by this policy.
7. Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances)
restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character,
dimensions or location of any improvement now or hereafter erected on the land, or prohibiting a separation
in ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law,
ordinance or governmental regulation.
8. Rights of eminent domain or governmental rights of police power unless notice of the exercise of such rights
appears in the public records.
9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by
the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known
to the insured claimant either at Date of Policy or at the date such claimant acquired an estate or interest
insured by this policy or acquired the insured mortgage and not disclosed in writing by the insured claimant
to the Company prior to the date such insured claimant became an insured hereunder; (c) resulting in no loss
or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy; or (e) resulting
in loss or damage which would not have been sustained if the insured claimant had been a purchaser or encum-
brancer for value without knowledge.
(Schedule B continued on next page of this Policy)
Order No. 7726066 -44
PART II
1. General and special taxes for the fiscal year 1977 -1978, a lien not
yet payable.
2. An easement for a sewer and storm drain and incidental purposes in
favor of City of 81 Segundo, as provided in the deed recorded in Book
6628, Page 31, Official Records.
Affects: That portion of said land lying between the Northerly S
line of said Lot 1, and a line drawn 7.5 feet measured at oe,
right angles Southerly of and parallel to said Northerly
line
Said Matter Affects : Parcel No. 1
3. Covenants, conditions and restrictions (deleting therefrom any
restrictions based on race, color or creed), as provided in deed re-
corded November 13, 1937 in Book 15414, Page 140, Official Records.
Said covenants, conditions and restrictions provide that a vio-
lation thereof shall not defeat nor render invalid the lien of any
mortgage or deed of trust made in good faith and for value.
Said Matter Affects : Lot 1 of Parcel No. 1
4. An easement for storm sewer and conduits and incidental purposes in 9
favor of George P. Beebe and Frances Peels Beebe, his wife, as provided 3O
in the deed recorded January 7, 1927 in Book 6185, Page 62, Official
Records.
Affects: All of that portion of Lot 2, Block 38, as per map recorded
in Book 22, Page 54, of Maps, lying between the Northerly
line of said lot and a line drawn 7.5 feet, measured at
right angles, Southerly of and parallel to said Northerly
line
Said Matter Affects : Parcel No. 1
Order No. 7726066 -44
5. An easement over a strip of land 10 feet in width lying with that
portion of Arena Street (50 feet wide) as vacated by Resolution No.
1364, of the City Council of the City of E1 Segundo, and recorded in
Book 43168, Page 143, Official Records, lying between the North line of
Grand Avenue, and the South line of the Pacific Electric Railway right
of way as shown on the map recorded at E1 Segundo Sheet No. 1, in Book
18, Page 69, of Maps, the center line of which strip is described as
follows:
Beginning at the intersection of the Easterly line of said Arena Street
(vacated) with the Northerly line of the Grand Avenue, as now esta-
blished 60 feet wide; thence Northwesterly to a point herein after
referred to as Point "A "; located 81 feet Northerly and 50 feet West-
erly, measured at right angles respectively from said Northerly line of
Grand Avenue and the Easterly line of said Arena Street, also a strip of
land 2 feet in width, lying within said Arena Street; the Northwest
Westerly line of which strip is described as follows:
Beginninag at said Point "A "; thence Northerly parallel with the West-
erly line of said Arena Street, a distance of 25 feet.
Said Matter Affects : Parcel No. 3 and part of Parcel No. 1
6. A perpetual right and easement in common with the Owner for the
parking of motor vehicles upon all of the herein described property, for
and in connection with the use of the City owned property immediately
adjacent and to the West of the herein described property, together with
the right of the Grantor herein to maintain at all times and for the
purpose herein enumerated, a right of way over, along and across the
common line of said properties as means of ingress and egress for said
parking purposes, as reserved by City of El Segundo, a municipal corpora-
tion, by deed recorded May 6, 1958 in Book D91, Page 515, Official
Records.
Said Matter Affects Parcel No. 2
7. An oil and gas lease, affecting the premises herein stated, executed
by and between the parties named herein, for the term and upon the terms
and provisions therein provided,
Dated May 21, 1965
Lessor Dee L. Stephens, Virginia L. Stephens, Olen L.
Trevathan and Jewele G. Trevathan
Lessee Occidental Petroleum Corporation,
a corporation
Term 20 years and for so long thereafter as oil, gas or
other hydrocarbon substances shall be produced from
the leased land.
Recorded July 8, 1965 as Instrument No. 3880
Order No. 7726006 -44
Affects that portion of said land lying below a depth of 500 feet
from the surface thereof, without the right to enter upon or use any
portion of said land lying above said depth.
Lessee's interest in said lease was assigned to Oxy Petroleum, Inc., a
California corporation, by an instrument recorded March 27, 1975 as
Instrument No. 1126, Official Records.
No assurance is made as to the present ownership of said leasehold
or matters affecting the rights or interest of the lessee in said lease.
OWNER'S INFLATION PROTECTIVE INDORSEMENT NO. 3
The Company, recognizing the current effect of inflation on real property valuation and intending to provide additional
monetary protection to the Insured Owner named in said Policy, hereby modifies said Policy, as follows:
1. Notwithstanding anything contained in said Policy to the contrary, the amount of insurance provided by said Policy,
as stated in Schedule A thereof, is subject to cumulative annual upward adjustments in the manner and to the
extent hereinafter specified.
2. "Adjustment Date" is defined, for the purpose of this Indorsement, to be 12:01 a.m. on the first January 1 which
occurs more than six months after the Date of Policy, as shown in Schedule A of the Policy to which this
Indorsement is attached and on each succeeding January 1.
3. An upward adjustment will be made on each of the Adjustment Dates, as defined above, by increasing the
maximum of insurance provided by said Policy (as said amount may have been increased theretofore under the
terms of this Indorsement) by the same percentage, if any, by which the United States Department of Commerce
Composite Construction Cost Index (base period 1967) for the month of September immediately preceding exceeds
such Index for the month of September one year earlier; provided, however, that the maximum amount of
insurance in force shall never exceed 175% of the amount of insurance stated in Schedule A of said Policy, less
the amount of any claim paid under said Policy which under the terms of the Conditions and Stipulations, reduces
the amount of insurance in force. There shall be no annual adjustment in the amount of insurance for years in
which there is no increase in said Construction Cost Index.
4. In the settlement of any claim against the Company under said Policy, the amount of insurance in force shall be
deemed to be the amount which is in force as of the date on which the insured claimant first learned of the
assertion or possible assertion of such claim, or as of the date of receipt by the Company of the first notice of such
claim, whichever shall first occur.
Nothing herein contained shall be construed as extending or changing the effective date of said Policy.
This indorsement is made a part of said Policy and is subject to the schedules, conditions and stipulations therein, except
as modified by the provisions hereof.
Dated: September 23, 1977
Policy No. 7726066 -44
By
P -283 (G.S.)
Owners Inflation Protective Indorsement No. 3
SAFECO TITLE INSURANCE COMPANY
-----------------------------
Authorized Signature
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"This plat is for your aid in Inceting your land with refers... to etreeta and mher parcels. It is nm a survey. While
this plat is believed to be correct, the Company assumes no liability for any lass occurring by reason of reliance thereon."
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
pay or otherwise settle for or in the name
of an insured claimant any claim insured
against, or to terminate all liability and
obligations of the Company hereunder by
paying or tendering payment of the
amount of insurance under this policy
together with any costs, attorneys' fees
and expenses incurred up to the time of
such payment or tender of payment by the
insured claimant and authorized by the
Company. In case loss or damage is
claimed under this policy by the owner
of the indebtedness secured by the insured
mortgage, the Company shall have the
further option to purchase such indebted-
ness for the amount owing thereon to-
getber with all cost, attorneys fees and
expenses which the Company is obligated
hereunder to pay. If the Company offers
to purchase said indebtedoess as herein
provided, the owner of such indebtedness
shall transfer and assign said indebtedness
and the mortgage and any collateral se-
curing the same to the Company upon
payment therefor as herein provided. Upon
such offer being made by the Company,
all liability and obligations of the Com-
pany hereunder to the owner of the in-
debtedness secured by said insured mort-
gage, other than the obligation to pur-
chase said indebtedness pursuant to this
paragraph, are terminated.
6. Determination and Payment of
Loss
(a) The liability of the Company
under this policy shall in no case exceed
the least of:
(i) the actual loss of the insured
claimant; or
00 the amount of insurance stated
in Schedule A, or, if applicable, the
amount of insurance as defined in pare
graph 2(a) hereof; or
(iii) if this policy insures the owner
of the indebtedness secured by the insured
mortgage, and provided said owner is the
insured claimant, the amount of the un-
paid principal of said indebtedness, plus
interest thereon, provided such amount
shall not include any additional principal
indebtedness created subsequent to Date
of Policy, except as to amounts advanced
to protect the lien of the insured mortgage
and secured thereby.
(b) The Company will pay, in ad-
dition to any loss insured against by this
policy, all costs imposed upon an insured
in litigation carried on by the Company
for such insured, and all costs, attorneys
fees and expenses in litigation carried on
by such insured with the written author-
ization of the Company.
(c) When the amount of loss or dam-
age has been definitely fixed in accor-
dance with the conditions of this policy,
the loss or damage shall be payable with
in 30 days thereafter.
7. Limitation of Liability
No claim shall arise or he maintainable
under this policy (a) if the Company,
after having received notice of an alleged
defect, lien or encumbrance insured
against hereunder, by litigation or other-
wise, removes such defect, lien or encum-
brance or establishes the title, or the lien
of the insured mortgage, as insured, with-
in a reasonable time after receipt of such
p -218 (GS.) Rev. 8.73
notice; (b) in the event of litigation until
there has been it final determination by
a court of competent jurisdiction, and
disposition of all appeals therefrom, ad-
verse to the title or to the lien of the in-
ured mortgage, as insured, as provided
in paragraph 3 hereof; or (cl for liability
voluntarily admitted or assumed by an
insured without prior written consent of
the Company.
a. Reduction of Insurance; Termin-
ation of Liability
All payments under this policy, except
payment made for costs, attorneys' fees
and expenses, shall reduce the amount of
the insurance pro tanto; provided, how-
ever, if the owner of the indebtedness
secured by the insured mortgage is an in-
sured hereunder, then such payments,
prior to the acquisition of title to said
estate or interest as provided in paragraph
2(a) of these Conditions and Stipulations,
shall not reduce pro Canto the amount of
the insurance afforded hereunder as to any
such insured, except to the extent that
such payments reduce the amount of the
indebtedness secured by such mortgage.
Payment in full by any person or vol-
untary satisfaction or release of the in-
sured mortgage shall terminate all liabil-
ity of the Company to an insured owner
of the indebtedness secured by the insured
mortgage, except as provided in paragraph
2(a) hereof.
9. Liability Noncumulative
It is expressly understood that the
amount of insurance under this paliey' as
to the insured owner of the estate or
interest covered by this policy, shall be
reduced by any amount the Company may
pay under any policy insuring (a) it
mortgage shown or referred to in Schedule
B hereof which is a lien on the estate
or interest covered by this policy, or (b)
a mortgage hereafter executed by an
insured which is a charge or lien on the
estate or interest described or referred to
in Schedule A, and the amount so paid
shall be deemed a payment under this
policy. The Company shall have the option
to apply to the payment of any such mort-
gage any amount that otberwise would
be payable hereunder to the insured owner
of the estate or interest covered by this
policy and the amount so paid shall Its
deemed a payment under this policy to
said insured owner.
The provisions of this paragraph 9 shall
not apply to an owner of the indebtedness
secured by the insured mortgage, unless
such insured acquires title to said estate
or interest in satisfaction of said indebt-
edness or any part thereof.
10. Subrogation Upon Payment or
Settlement
Whenever the Company shall have paid
or settled a claim under this policy, all
right of subrogation shall vest in the Com-
pany unaffected by any act of the insured
claimant, except that the owner of the in
debteiness secured by the insured mort
gage may release or substitute the per
serial 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
insured mortgage, or release any collateral
security for the indebtedness, provided
such act occurs prior to receipt by such
insured of notice of any claim of title or
interest adverse to the title to the estate
or interest or the priority of the lien of
the insured mortgage and does not result
in any loss of priority of the lien of the
insured mortgage. The Company shall be
subrogated to and be entitled to all rights
and remedies which such insured claimant
would have had against any person or
property in respect to such claim had this
policy not been issued, and the Company
is hereby authorized and empowered to
sue, compromise or settle in its name or in
the name of the insured to the full extent
of the loss sustained by the Company.
If requested by the Company, the insured
shall execute any and all documents to
evidence the within subrogation. If the
payment does not cover the loss of such
insured claimant, the Company shall be
subrogated to such rights and remedies
in the proportion which said payment
bears to the amount of said loss, but such
subrogatimu shall be in subordination to
an insured mortgage. If loss should result
from any act of such insured claimant,
such act shall not void this policy; but the
Company, in that event, shall as to such
insured claimant 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.
11. Liability Limited to this Policy
This instrument together with all en-
dorsements and other instruments, if any,
attached hereto by the Company is the
entire policy and contract between the
insured and the Company.
Any claim of loss or damage, whether
or not based on negligence, and which
arises out of the status of the lien of the
insured mortgage or of the title to the
estate or interest covered hereby, or any
action asserting such claim, shall be re-
stricted to the provisions and conditions
and stipulations of this policy.
No amendment of or endorsement to this
policy can be made except by writing en-
dorsed hereon or attached hereto signed
by either the President, a Vice President,
the Secretary , an Assistant Secretary, or
validating officer or authorized signatory
of the Company.
No payment shall be made without pro-
ducing this policy for endorsement of such
payment unless the policy be lost or de-
stroyed, in which case proof of such loss
destruction struction shall he furnished to the
satisfaction of the Company.
12. Notices, Where Sent
All notices required to be given the
Company and any statement in writing
required to be furnished the Company
shall be addressed to it at the office
which issued this policy or to its Home
Office, 13640 Roscoe Boulevard, Panorama
City, California 91409.
13. THE CHARGE SPECIFIED IN
SCHEDULE. A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE.
INSURANCE.