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D128J TICOR TITLE INSURANCE Policy of Title Insurance SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, TICOR TITLE INSURANCE COMPANY OF CALIFORNIA, 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 Bin the order of its priority; or 7. Invalidity of any assignment of the insured mortgage, provided such assignment is shown in Schedule B. TICOR TITLE INSURANCE COMPANY OF CALIFORNIA By President Attest Z/� Secretary T01012 CA (2 -83) California Land Title Association Stan dand Coverage Polic —1923 CAT NO NNW240 34109 1118373 610 TICE"', TITLE 1!'6URA<rE i;Oi',IPANY OF CALIFORNIA PREMIUM AMOUNT OF INSURANCL: fiATE OF POLICY : APRIL 4y 191'4 AT P*M. POLICY AOo ; -;174354 NAME U- ZITY OF EL A4 '-,0RPcWATIF-P! 2� THE ESTAI E Gol 10 ai 1 1 IS AT GATY OF POLICY VESTED IN: CITY ijF EL E-i,-GJND£ v 'I ;,111= kL CO( PCUI-"ATIlt'N 3. THE ESTAT'E: -.: I:JE41LET 1 ; Tl! LA N11) RFFERf2E,7 TO IN SCHEDULc C ClJVtV',-:fj IY THIS P 4.1':Y IS '. FE'7, `, Cill E ! L! TEIS PJLICY C�jcS NLiT I G,, 1�'ST LtISS fik )AMAG-Fq tqfl�, A(=ATNST C-DISTS9 ATTCkNEYS' f-:- X? ANY ALL HTCH ARIFF 3Y REASON' GF THE ALL MATTE'-'S SET ♦ 1 TO 11 IELEVEN) INCLUSIV' - - :1,.; V >HIEET FF THIS P;ILICY U.-NDT7 R TH7 HEA CL �jLc P,%RT I II�I!%,G 1 � , lici) 1. ""NERAL AN Sr,-CIAL "CU'TY i,; F CITY TM,!,-� F 'OR I HE F I S C' � Y L k 1 1� I - t-l� 1 :�, LI : uT Yl-T ?A.Yl-1,L,-. ASSES';cD T,,XE-3 F T [- HAVE PAID IN THE ArIfiUVI -' F: ?22.7, SAILj MATTLk AFFLL'IS: LOf '74354 ;, '- 111V�l- ",,I 84109 1118373 610 TICOR TITLE INSURANCE COMPANY OF CALIFORNIA ASST SSED TAXES F IKE FISCAL YnAR 1173-1914 AAVJ 1EEN PAID IN THE A&6UNT UK 234.0? SAID MATTER AFFECTS: LOT 6 ASS SS T 12 FUR IKE 71SCAL YRAR 1Vo3-1984 HAVE HEEN PAID IA THE AMOUNT DF: 4275.6,.' SAID MATTER AFFECTS: LOT 7 SUCH ADDITIONAL SPECIAL CITY -ND/nR COUNTY TAXES AS AAY 3E ASSESSED DY REASON OF: IA) 1WROVEMINTS AJOEC Sl doAT TO QRCH it 1979; 16) CHANGES OF LWQRSHIP QQU QKA WASWUENT Tj MARCH Ig 1975; (W ANY FINAL JuAWENT APTL AINiNG TEAT C"NSTITUTIONAL ARTICLE XIII A WAS mtN APPLlin ImPxOR RLY; 10) REAPPRAISAL GF PRC?QkTY VALJES An OF OARCH 11 1975; AND (E) THE EFFECT ME AjY KE,SS'S:MfoT NUT PGSTEO To THE TAX ROLL AS OF THE DATE HEAWK, 20 THE LIEN OF SUPPLTAVnTAL TAgESg ;F ANY; ASSSSSEA PURSUANT TO THE PR9VISIONS OF CHAPTLA 496v ST%TUWS "F 1153 OF THE STATE 6F CALIFORNIA, 30 Ad EASEMENT r PIPE LIQSY SWOSw PILE LINEW CnNDUITS AND INCIDENTAL PURPOSES IN STREnTSw AVENUES n&P ALL Y AS QF3EQVFj IN THE DEDICATION OF THE SAMQ oY LOS ANG3LIS TRUST 5 'AWQS AK,, SAID MATTER AFFECTS: LOT � Q74354 & I ?AGE 02 00109 610 TIGER TITLE INSUAAW WhPANY QF CALIFORNIA . SCIEDULE : THE LAND REFERKEj TO IN THIS PULICY IS SImane IN THE COUNTY OF LOS ANGELESP STATE W CALIFORIIA9 ANO 1S DUSCRIZED AS FOLLOWS- LOTS 59 6 ANU 7 IN KLOCK 60 OF EL SEGUNDO, I& THE CITY OF EL SEGUNOOy IN THE COUNTY OF LOS ANGEL iSg STATE F CALIF ORNIAg AS w!!# RECORDED IN BOOK 22 PAGES 54 AND 55 OF ao,I TV OFFILE lF THE COUNTY nICIRAER OF SAID COUNT% n174354 < b » mr 03 oe S7 N � I w., Lft m C 0 50.0 Z m m b M W 4 g � r ...1 r W N G1 N IZ + C m p tp a Z W C m $ ° , 10 W A ' PENN ` ` \- SHE N PENN LDON\ S7. ST. —'0-7'-0/—" �y v. SHELOON N. O W. � ( ✓oc) oe S7 N � I w., Lft m C 0 50.0 Z m m b M W 4 g � r W V ° , N PENN ` N PENN ST. ¢'a•' �y r. ST. ° U` �3m OSO > jec r /26.15 n N a,AirC 45 40 ., ,. .� 4p Vv.r `r'�••R a1 o4�a p4 D ` e U O <R' ' so T N uN lw W q 50 N H °SIERRA ST.° wog ryoc p n T pmp � °wy N m IF m � N v O U o z (Conditions and Stipulations Continued from Reverse Side of Policy Face) 2. la) Continuation of Insurance after Acquisition of Title by Insured Lender 1 11 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 said estate or interest in the land described in Schedule C by foreclosure, trustee'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 guaran- teeing the indebtedness secured by the insured mortgage. After any such acquisition the amount of insurance hereunder, exclusive of costs, attor- neys' fees and expenses which the Company may be obligated to pay, shall not exceed the least of (i) the amount of insurance stated in Schedule A; (ii) the amount of the unpaid principal of the indebtedness plus interest thereon, as determined under paragraph 6(a) (iii) hereof, expenses of fore- closure 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, crowns an indebtedness secured by a purchase money mortgage given by a purchaser from such insured, or so long as such insured shall have liability by reason of covenants of warranty made by such insured in any transfer or conveyance of such estate or interest; provided, however, this policy shall not continue in force in favor of any purchaser 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 promptly in writing (i) in case of any litigation as set forth in (a) above, (ii) in case knowledge 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 prejudice the rights of any such insured under this policy unless the Company shall be 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 opinion may be necessary or desirable to establish the title to the estate or interest or the lien of the insured mortgage, as insured; and the Company may take any appropriate action, whether or not it shall be 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 Com- pany may pursue any such litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discre- tion, to appeal from any adverse judgment or order. (e) In all cases where this policy permits or requires the Company to prose- cute or provide for the 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 proceeding, and all appeals therein, and permit the Company to use, at its option, the name of such insured for such pur- pose. Whenever requested by the Company, such insured shall give the Company, at the Company's expense, all reasonable aid (1) 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 correc- tive or other documents. 4. Proof of Loss or Damage — Limitation of Action I n 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 appropri- ate, state the basis of calculating the amount of such loss or damage. Should such proof of loss or damage fail to state facts sufficient to enable the Company to determine its liability hereunder, insured claimant, at the written request of the 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 30 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 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 pay- ment 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 indebtedness for the amount owing thereon together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay. If the Company offers to pur- chase said indebtedness as herein provided, the owner of such indebted- ness 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 Company, all liability and obligations of the Company hereunder to the owner of the indebted- ness secured by said insured mortgage, 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 (ii) the amount of insurance stated in Schedule A, or, if applicable, the amount of insurance as defined in paragraph 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 unpaid principal of said indebtedness, plus interest thereon, provided such amount shall not include any additional principal indebted- ness 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 expenses in litigation carried on by such insured with the written authorization of the Company. (c) When the amount of loss or damage has been definitely fixed in accord- ance with the conditions of this policy, the loss or damage shall be payable within 30 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 in- sured against hereunder, by litigation or otherwise, removes such defect, lien or encumbrance or establishes 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. (Conditions and Stipulations Continued and Concluded on Reverse Side of This Page)