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D126California Lord Till. Am.,al} ev SGrdard + 1 ,FORM NO. 4000 Coverage Polity Fo.m -1973 Revised 1043 Policy of Title Insurance Issued by Transamerica Title Insurance Company SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, TRANS - AMERICA 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 Sched- ule 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. Transamerica Title Insurance Company By Ila President By Secretary f FORM NO. 8110 REVISED t0 -73 FOR USE WITH CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY FORM -1973 SCHEDULE A 0 Amount of Insurance $ 5,178.69 Charge $ 90.00 Date ofPolicy JANUARY 3, 1980 AT 8:04 A.M. Order No. 433009 Name of Insured: CITY OF EL SEGUNDO, A MUNICIPAL CORPORATION 1. The estate or interest in the land described herein and which is covered by this policy is a fee 2. The estate or interest referred to herein is at Date of Policy vested in: CITY OF EL SEGUNDO, A MUNICIPAL CORPORATION FORM NO. 804 REVISED 10 -73 FOR USE WITH ALTA LOAN POLICY -1970 AND ALTA CONSTRUCTION LOAN POLICY -1978 WITH STREET IMPROVEMENT 48SCSSMENT COVERAGE. FOR USE WITH CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY FORM -1979 SCHEDULE A— Continued The land referred to in this policy is situated in the State of California, County of LOS ANGELES CITY OF EL SEGUNDO , and is described as follows: THE WESTERLY 25 FEET, MEASURED AT RIGHT ANGLES FROM THE WESTERLY LINE AND SOUTHERLY PROLONGATION THEREOF,'OF LOT 60 IN BLOCK 123 OF EL SEGUNDO, AS PER MAP RECORDED IN BOOK 22 PAGES 106 AND 107 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. EXCEPT THEREFROM THAT PORTION THEREOF, LYING WITHIN THE NORTH 145 FEET OF SAID LOT 60. ALSO EXCEPT THEREFROM ALL MINERALS, OIL, GAS AND OTHER HYDROCARBON SUBSTANCES IN, ON, WITHIN, UNDER AND THAT MAY BE PRODUCED FROM THE ABOVE DESCRIBED LANDS AND EVERY PART THEREOF; PROVIDED, HOWEVER, THAT THIS EXCEPTION SHALL NEITHER RESERVE NOR SHALL IT BE CONSTRUED AS RESERVING UNTO GRANTOR THE RIGHT TO GO UPON THE SURFACE OF SAID LANDS TO EXTRACT SAID SUBSTANCES BUT THERE IS EXPRESSLY RESERVED UNTO GRANTOR, HER SUCCESSORS AND ASSIGNS, THE SOLE AND EXCLUSIVE FIGHT TO DRILL INTO, UNDER, ACROSS AND THROUGH SAID LANDS AT DEPTHS BELOW 500 FEET FROM THE SURFACE OF SAID LANDS FOR THE PURPOSE OF TAKING, RECOVERING AND REMOVING SAID SUBSTANCES IN, ON, WITHIN, UNDER AND THAT MAY PRODUCED FROM SAID LANDS AND EVERY PART THEREOF AND IN, ON, WITHIN, UNDER AND THAT MAY BE PRODUCED FROM ANY OTHER LANDS IN THE AREA, AS RESERVED IN THE DEED RECORDED APRIL 11, 1955, IN BOOK 47443, PAGE 98 OF OFFICIAL RECORDS. Approved as to terms and nWW_!j.j_N FORM NO. 612 REVISED 5.74 FOR USE WITH CALIFORNIA LAND TITLE ASSOCIATION STANDARD COVERAGE POLICY FORM -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 ordi- nances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regu- lating 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 cov- erage 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 subse- quent 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 encumbrancer for value without knowledge. SEE NEXT PAGE FOR SCHEDULE B PART H FOR USE WtTN CALIOORNU LAND TITLE ASSOCIATION STANDARD COVERAGE FOLICY FORht - I073 SCHEDULE B PartH 1. EASEMENT, AND INCIDENTS THERETO, GRANTED TO : CITY OF EL SEGUNDO PURPOSE : PIPE LINE, STORM DRAINAGE, INGRESS AND EGRESS RECORDED : NOVEMBER 16, 1955, OFFICIAL RECORDS BOOK : 49542 PAGE : 232 INSTRUMENT NO. : 2985 AFFECTS : THAT PORTION OF SAID LAND LYING WITHIN THE WESTERLY 5 FEET OF LOT 60. OWNER'S INFLATION PROTECTION INDORSEMENT Issu*d By Tpensamepica Title Insurance Company The Compaq, recognizing the current effect of inflation on real property valuation and intending to provide additional monetary protection to the Insured owner named in the Policy to which. this Indorsement is attached, 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 cumrl.ative 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 maximm, amount 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 Depart- ment of Commerce Composite Construction Cost Index (base period 1967) for the month of September immedi- ately 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 150% 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 -hall be no annual adjustment in the amount of insurance for years in which there is no increase in said Contraction Coat Index. 4. In the settlement of any claim against the Compaq 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 Com- pany of the first notice of such claim, whichever shall first occur. PROVIDED, HOWEVER, this indorsement shall be effective only if one of the following conditions exists at Date of Policy: a. The land described in this Policy is a parcel on which there is only a one-to -four family residential structure, including all improvements on the land related to residential use, in which the Insured Owner resides or intends to reside; or b. The land consists of a residential condominium unit, together with the common elements appurtenant thereto and related to residential use thereof, in which the Insured Owner resides or intends to reside. 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. Tponsamepica Title Insurance Company E INSJ9i��� By 8Q \SLOW AT � President f 414 23' 19,0 '-k- !� �4 +�Os:gl /FO ' NOTE: In connection with a future application for title insurance covering said land, reissue credit on premium charges (if applicable at all) will be allowed only upon the original face amount of insurance as stated in Schedule A of said Policy. T/A Indorsement Form T /A -1 (Effective 12 -1 -74) Indorsement Issued By Transamepica Title Insupance eampany. 1. This Indorsement shall be effective only if at Date of Policy there is located on the land described in said Policy a one-to -four family residential structure, in which the Insured Owner resides or intends to reeide. For the purpose of this Indorsement the term "residential structure" is defined as the principal dwelling structure located on said land together with all improvements thereon related to residential use of the prop- arty except plantings of any nature, perimeter fences and perimeter walls, and the term "insured owner" is defined as any insured named in paragraph 3 of Schedule A and, subject to any rights or defenses the Company may have had under said Policy and all indorsements, such insured's heirs, distributees, devisees, survivors, personal representatives or next of kin. 2. The Company hereby insures the Insured owner of the estate or interest described in Schedule A against loss or damage which the Insured owner shall sustain by reason of: a. the existence at Date of Policy of any of the following matters: (1) lack of a right of access from said land to a public street; (2), . any statutory lien for labor or materials attaching to said estate or interest arising out of any work of improvement on said land, in progress or completed at the date of the policy, except those liens arising out of a work of improvement for which the insured has agreed to be responsible. b. the removal of the residential structure or the interference with the use thereof for ordinary resi- dential purposes as the result of a final Court Order or Judgment, based upon the existence at the Date of the Policy of: (1) any encroachment of said residential structure or any part thereof onto adjoining lands, or onto any easement shown as an exception in Part II of Schedule B of said Policy, or onto any unrecorded subsurface easement; (2) any violation on the land of enforceable covenants, conditions or restrictions, provided that this coverage shall not refer to or include the terms, covenants and conditions contained in any lease, sub - lease, or contract of sale referred to in this Policy; (3) any violation of applicable zoning ordinances to the extent that such ordinances regulate (a) area, width or depth of the land as a building site for the residential structure; (b) floor space area of the residential structure; (c) set back of the residential structure from the property lines of the land; or (d) height of the residential structure. C. damage to the residential structure resulting from the exercise of any right to use the surface of said land for the extraction or development of the minerals excepted from the description of said land or shown as a reservation in Schedule B. The total liability of the Company under said Policy and all indorsements attached thereto shall not exceed, in the aggregate, the amount of said Policy and costs which the Company is obligated under the conditions and stipulations thereof to pay; and nothing contained herein shall be construed as extending or changing the effec- tive 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. Tpansamepica Title Insurance Company By Ro O A President Of, VAY 43, Z CLTA Form 126.1 (6-5-75) 1 One -Four Family ?A'k- ) f � .i'' N2 i p y Z 0 1S T N003b0 Y ZE/ Jf 1 Ji W i � — Oa w I'. A It P\ N !•Ir ^. VI P N m re by mi a� ^ O.D I� 01e i l ( I (rs WA d.) /h 6'_// .zi= r f<fi. tar .'4' *b•Q•d/�i�r_ �1S a ,n Lfft VIP Mc ^�. � 'rA O m m r } min illi P� C2 �� 1 stye e e'JJ LU C•L !L'Gf r / / 1 o[iS �9DZr l�Jf Z yr I s; cs ..• ei se 1 ' c ftsi ere t'J. ( eJ! r[ts I:• min rJf 01 . s . .. __ s sf z :' iM li ICJ A• •1S E131N30 0 T W q ' ON i• � • � Y F W gw' M WO t �t `u California Land Title Association Standard Coverage Polley Farm -1973 OF CONDITIONS AND STIPULATIONS The following terms when used in this policy mean: (a) insured ": the insured named in Schedule A, and, subject to any rights or defenses the Company may have had against the named insured, those who succeed to the interest of such insured by operation of law as distinguished from purchase melud- ing, but not limited to, heirs distributees, devisees, survivors, personal represeotatives, next of kin, or corporate or f,'dumary successors. The term "insured" also includes fit the owner of the indebtedness secured by the insured mortgage and each successor in ownership of such indebtedness (reserving however, all rights and defenses as to any such successor who act,y Tres the indebtedness by operation of law as described in the first sentence of this subparagmph (a) that the Company would have had against the s tar any ernmear agency or i gov nt nsurer or guarantor under an insurance contract or guar. an (b) "insured claimant ": an insured claiming loss or damage hereunder. (c) "insured lender ": the owner of an insured mortgage. (d) "insured mortgage': a mortgage shown in Schedule B, the owner of which is named as an insured in Schedule A. (e) "knowledge ": actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of any public records. (f) 'land ": the land described, specifically or by reference in Schedule A, and improvements affixed thereto which by law constitute real property; pp ovided, however, the term "land" does not include any area excluded by Paragraph No. 6 of Part I of Schedule B of this Policy. (gg) mortgage­; mortgage, deed of trust, trust deed, or other security instrument. (h) "public records ': those records which by law impart constructive notice of matters relating to the land. 2. (a) CONTINUATION OF INSURANCE AFTER ACQUISITION OF TITLE BY INSURED LENDER If this policy insures the owner of the indebtedness secured by the insured mortgage, this policy shall continue in force as of Date of Policy in favor of such insured who acquires all or any part of the estate or interest in the land described in Schedule A by foreclosure, thistees's sale, conveyance in lieu of foreclosure, or other legal manner which discharges the lien of the insured mortgage, and if such insured is a corporation, its transferee of the estate or interest so acquired, provided the transferee is the parent or wholly owned subsidiary of such insured; and in favor of any governmental agency or instrumentality which acquires all or any part of the estate or interest pursuant to A contract of insurance or guaranty insuring or guaranteeing the indebtedness secured by the insured mortgage. After any such acquisition the amount of insurance hereunder, exclusive of costs, attorneys' fees and expenses which the Company may be obligated to pay, shall not exceed the least of: fit the amount of insurance stated in Schedule A; (it) the amount of the unpaid princippal of the indebtedness plus interest thereon, as determined under paragraph 6(A) (in) hereof, expenses of foreclosure and amounts advanced to protect the lien of the insured mortgage and secured by said insured mortgage at the time of acquisition of such estate or interest in the land; or (iii) the amount paid by any governmental agency or instrumentality, if such agency or instrumentality is the insured claimant, in acquisition of such estate or interest in satisfaction of its insurance contract or guaranty. (b) CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE The coverage of this policy shall continue in force as of Date of Policy, in favor of an insured so long as such insured retains an estate or interest in the land, or owns an indebtedness secured by a purchase money mortgage gg' en by a purchaser from such in- sured, or so long as such insured shall have liability br reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; prmnded, however m , this policy shall not continue in force in favor of any puhaser from such insured of either said estate or interest or the indebtedness secured by a purchase money mortgage given to such insured. 3. DEFENSE AND PROSECUTION OF ACTIONS — NOTICE OF CLAIM TO BE GIVEN BY AN INSURED CLAIMANT (a) The Company, at its own cost and without undue delay, shall provide for the defense of an insured in litigation to the extent that such litigation involves an alleged defect, lien, encumbrance or other matter insured against by this policy. (b) The insured shall notify the Company prompty in writing fit in case of any litigation as set forth in (a) above, (ii) in case knowlledge shall come to an insured hereunder of any claim of title or interest which is adverse to the title to the estate or interest or the lien of the insured mortgage, as insured, and which might cause loss or damage for which the Company may be liable by virtue of this policy, or (iii) if title to the estate or interest or the lien of the insured mortgage, as insured, is rejected as unmarketable. If such prompt notice shall not be given to the Company, then as to such insured all liability of the Company shall cease and terminate in regard to the matter or matters for which such prompt notice is required; provided, however, that failure to notify shall in no case ppre, office the rights f any such insured under this policy polrunless the Company shall b prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and without undue delay prosecute any action or proceeding or to do any other act which in its pmira may a necessary or desirable to establish the title to the estate or interest or the lien of the insured u mortgag as insured; and the Company may take any appropriate action, whether or not it shat mortgage, liable under the terms of this policy, and shall not thereby concede liability or waive any provision of this policy. (d) Whenever the Company shall have brought any action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any such litigation to final determination by a court of competent f urisdict sin and expressly reserves the right, in as sole discretion, to appeal from any ad verse judgment or order. (e) In all cases where this policy permits or requires the Company to prosecute or provide for he defense of any action or proceeding, the insured hereunder shall secure to the Company the right to so prosecute or provide defense in such action or pmceed- i g and all appeals therein, and permit the Company to use, at its option, the name of such insured for such purpose. Whenever requested by the Company, such insured shall give the Company, at the Company's expense, all reasonable aid (t) in any such action or proceeding in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or defending such action or proceeding, and (2) in any other act which in the opinion of the Company may be necessary, or desirable to establish the title to the estate or interest or the lien of the insured mortgage, as insured, including but not limited to executing corrective or other documents. 4. PROOF OF LOSS OR DAMAGE— LIMITATION OF ACTION In addition to the notices required under Paragraph 3(b) of these Conditions and Stipulations, a proof of loss or damage, signed and sworn to by the insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain or determine the facts giving rise to such loss or damage. Such proof of loss or damage shall describe the defect in, or lien or encumbrance on the title, or other matter insured against by this policy which constitutes the basis of loss or damage, and, when appropnate, state the basis of calculating the amount of such loss or damage. ShouPS such proof of loss or damage fail to state facts sufficient to enable the Com- pany to determine its liability hereunder, insured claimant, at the written request of Company, shall furnish such additional information as may reasonably be necessary to make such determination. No right of action shall accrue to insured claimant until 3o days after such proof of loss or damage shall have been furnished. Failure to furnish such proof of loss or damage shall terminate any liability of the Company under this policy as to such loss or damage. 5. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS AND OPTIONS TO PURCHASE INDEBTEDNESS The Company shall have the option to pay or otherwise settle for or in the name of an insured claimant any claim insured against, or to terminate all liability and obliga- lions of the Company hereunder by paying or tendering payment of the amount of surance under this policy together with any costs, attorneys fees and expenses incw up to the time of such payment or tender of payment by the insure authorized by the Company. In case loss or damage is claimed under this policy by owner of the indebtedness secured by the insured mortgage, the Company shall In the further option to purchase such indebtedness for the amount owing thereon toes to pay. If the Company offers to purchase said indebtedness as herein provided, the owner of such indebtedness shall transfer and assign said indebtedness and the mortgage and any collateral securing the same to the Company upon payment therefor as herein provided. Upon such offer being made by the Com any. all liability and obligations of the Company hereunder to the owner of the indebtedness secured by said insured mortgage, other than the obligation to purchase said indebtedness pursuant to this paragraph, are terminated. b. DETERMINATION AND PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed the least of: fit the actual loss of the insured claimant; or (if) The amount of insurance stated in Schedule A, or, if applicable, the amount of insurance as defined in paragraph 2(a) hereof; or i) 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 unpaid principal of said indebtedness, plus interest thereon, pro- vided 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 addition 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 exppenses in litigation carried on by such in- sured with the written authorization of the Ccmpan (c) When the amount of loss or damage has been definitely fixed in accordance with the conditions of this policy, the lass or damage shall be payable within 3o days thereafter. 7. LIMITATION OF LIABILITY No claim shall arise or be 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 otherwise, removes such defect, lien or encumbrance or es- tablishes the title, or the lien of the insured mortgage, as insured, within a reasonable time after receipt of such notice; (b) in the event of litigation until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title or to the lien of the insured mortgage, as insured, as provided in paragraph 3 hereof; or (c) for liability voluntarily admitted or assumed by an insured without prior written consent of the Company. S. REDUCTION OF INSURANCE; TERMINATION 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, however, if the owner of the indebtedness secured by the insured mortgage is an insured hereunder, then such payments, prior to the acquisition of title to said estate or interest as pro- vided in paragraph 2(a) of these Conditions and Stipulations, shall not reduce pro tamo 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 voluntary satisfaction or release of the insured mortgage shall terminate all Lability of the Company to an insured owner of the in- debtedness 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 policy, s 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) a mortgage shown or re- ferred 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 Schdule A, and the amount so paid shall be deemed a payment under this policy. The Company shall have the option to aptly to the payment of any such mortgage any amount that otherwise would be pay - ab a hereunder to the insured owner of the estate or interest covered by this policy and the amount so paid shall be 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 indebtedness or any part thereof. 10. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have paid or .settled a claim ndc, this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant, except [hat the owner of the indebtedness secured by the insured mortgage may release or substitute the personal liability of any debtor or guarantor, or extend or others far modify the terms of payment, or release a portion of the estate or interest from the lien f the insured mortgage, or release any collateral security for the indebtedness, provided sue[) act occurs prior to receipt by such insured of notice of any claim of title interest adverse to the title to the estate or interest or the priority of the lien of the or nsured mortgage and does not result in any loss of ppriority of the lien of the insured mortgage. The Company shall be subrogated to and be entitled to all rights and reme- dies 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 an thorizel 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 ppayment does of cover the loss of such insured claimant, the Company shall be so roasted to such rights and remedies in the proportion which said payment bears to the amount of said loss, but suc m h subrogation shall be in suborda ton 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 here- under 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 II endorsements and other instruments, if any. at- tached 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 restricted 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 m Copany. 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 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. 600 Montgomery Street, San Francisco, California 94111. 13. THE CHARGE SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE ERRMINATION AND TITLE INSURANCE.