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BOOIC39868 PAGf346
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J RESOLUTION NO. 993 \)';, (~r 2;
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(CITY COUliCn. SERIES)
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF SANTA MONICA ACCEPTING
A GRANT DEED FROM PACIFIC ELECTRIC
RAILWAY COMPANY.
THE CITY COUNCIL OF THE CITY OF SANTA NONICA DOES HESOLVE
AS FOLI,OWS:
-"
SECTION 1. That that certain Grant Deed
trom PACIFIC ELECTRIC RAILWAY COMPANY, a copy of which is
attached hereto, whereby said Pacific Electric Railway
Company grants to the City of Santa Monica all right, title
and interest in and to the following described real property,
be and the same hereby is accepted. Said property is
described as tollows:
Two parcels of land in the Rancho La
Ballona, as recorded in Book 1, pages
301 to 310 of Patents, in the office
"'''''-, ot the Recorder of Los Angeles County,
, being those portions of that certain
100 foot strip of land conveyed to the
southern California Railway Company by
deed recorded in Book 1013, Page 296
of Deeds, in the office of the Recorder of
said County, lying within the following
described lines:
,i PARCEL A:
Beginning at the point ot intersection
of the southeasterly line of Hill Street
(50 teet wide) with a line parallel with
the southwesterly boundary of said 100
toot strip of land and distant northeasterly
therefrom 65 feet, more or less, measured at
right angles, said point of intersection being
located on said southeasterly line of Hill
Street, South 490 30' 00" West, 25 feet from
the northWesterly corner of Block 3 of Tract
No. 7425, as said Tract is shown on Map re-
corded in Book 86, page 65 of Maps, in the
office of the Recorder of said County;
thence South 400 30' 0011 East along said
parallel line 616.69 feet, more or less,
to its intersection with the northwesterly
line of Ashland Avenue, as said Ashland
Avenue is shown on the Map of said Tract
No. 7425, said point of intersection being
distant 25 feet, measured at right angles
from the southwesterly line 01.' said Tract
1
fi
B00l(39868 I'AGE347
No. 7425; thence South 560 55' 00"
WeBt along sald northwesterlJ l1ne ot
Ashland Avenue 65.55 teet, more or less,
to the So\tthtfeaterly bounda1"7 ot sald
100 toot strip or land; thenDe North 400
30. 001' West along said boundar"J' 631.60
feet, more or less, to the southerly line
of said Hl1l street; thence easterll and.
northeasterly along said 11M of Hi 1
St:l'eet Which 1s on a curve" concave northerly
and hav1ng a nd1us of 55 teet, through a
central ansle of 540 53' 59" an arc d1stance .
of 52..70 teet. to t. end of sa1d curve ~
thence North _9030' 00" East.. along the
southeasterlJllne of se1d Hl11 Street"
20 teet, more or les8, to the polnt of
beg1nn1ng .
PARCB:L !!;
Bei1nninS at the p01nter lnter88ctlon ot
southeasterly line ot AShland Avenue with
a line parallel w1th the southwesterly
'boundar,- ot sa1d 100 foot stnp ot land
and d1stant northeasterl., theref'rom 65 teet,
more or les.,1 measured at right angles, sa1d
point of intersection be1ng located on sald
southeasterl., 11ne of Ashland Avenue, South
590 531 oaf! We.t 25.42 teet trom the north-
westerly cOJ'lner 01' Block 4 01' ~ct No. 7425"
as said Ashland Avenue and Tract are shown on .;(~..,
Map l"ecol"ded ln Book 66, page 66 of Maps, 1n
the off1ce Of the Recorder 01' sa1d Countyj
thence South 400 301 00" East alo, sald
parallel line 186 .25 teet more or eaB to
its lnterseotlon with the northwesterly
line of Klmlt1 Street (SO 1'..t Wide) as
descr1bedln the Plnal Deoree in Con4emna tlon
had. 1n Case No. 292221 ln the Superior Court
<:If the State 01' California 1n and. tor the
C.ounty ot Loa A~lesJ entered March 3, 1932
in. J~nt i30<>k 812, page 256, said point of
intersection belng distant 25 feet, meMured
at right angles J tram the southwesterly 11ne
ot said Traot No. 7425; thence Sou~'1. SOO 58'
42n West along the .n.orthWesterly 11ne ot sald
!Clnney St~et 65.02 feet, more or lesS, to
the .0utJ.\WItsterly 'bouncla17 of said. 100 foot
strip of land; thence North 40 0 30' 00 n We. t
along aaidsoutb_aterly boundat'1 196.48 teet
BlOre or leG. to the southeasterl,- line of 1
said Ashland AveUlaJ thence NOrth 590 5~' 00"
East along sald southeasterly 11ne 66.0 feet..
more or le.., to the point of' l'.1eg1nn1ng.
2
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8001(39868 ?AGE348
SECTION 2. That the C1q- Manager hereby
1s autho:r1zed to do all things necessary to complete the
transfer of said property to said city a.nd cause the
d.ed to be recot'de4 in the County Recorderls Offioe.
SECTION 3. That the City Clerk shall
certify to the adoption or th1s resolution and thenceforth
and thereafter the same ahall be in full toree an4 ettect.
""'-
ADOPTED and APPROVED this 23 tb day of
j~P{'"'J;;?t , 1952.
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i..;.,". .. ...i'. ( ......er Mayor
/..-' I hereby certify that the toregoing resolution
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was dUly adopted 'by the City Council of the City of Santa
Monica at a regular meeting thereot held on the
....- ....
29t.h day of Aus~u:;:t ., 1952~ 'by the follOWing
vote ot the CounCil:
AYES: Councilmen: (:rubbs, Guercio, Maboney,
~cCarthy, Uc Dermott, Eart
NOBS: Councilmen: None
""", ;./. ~N'l': Councilmen: f)arnard
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~.P~;'~ .&8 to torm
i~i8 26th day-ot August, 1952.
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".'M.Mi~C.. ALtii'JR.
Deput)r city l'torney
Approved o.s to description
8-26-52 M. M. King
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CORPORATION G:lW'lT .D~.] .* (7 tf
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Tbe PACIFIC ELECTRIC RAILWAY COMPANY, a corporation orga.nized under
the laws of the state of California, and having its principal place of
business in th e City of Los Angeles, state of California, the party of the
first part, does hereby grant to the CITY OF SANTA MONICA, a Municipal
corIDration of the state of California, the party of the second part, all
that real property situated in th e City of Santa Monica, County of
Los Angeles, State of California, described as follows:
Two parcels of land in the Rancho La. Ballona, as recorded
in Book 1, pages 301 to 310 of Patents, in the office of
the Record:er of Los Angeles County, being those portions
of that certain 100 foot strip of land conveyed to the
Southern California Railway Company by deed recorded in
Book 101.3, Page 296 of Deeds, in the office of the
Recorder of said County, lying wi thin the following
described lines:
PARCEL A:
Beginning at the point of intersection of the
southeasterly line of Hill street (50 feet wide) with a
line parallel with the southwesterly boundary of said
100 foot strip of land and distant northeasterly there-
fron 65 feet, more or less, measured at right angles,
said point of intersection being located on said south-
easterly line of Hill street, South 490 301 00" West,
25 feet from the northwesterly corner of Block 3 of Tract
No. 7425, as said Tract is shown on Map recorded in Book
86, page 65 of Maps, in the orne e of the Recorder of
said County; thence South 400 30r 00" East along said
parallel line 616.69 feet, more or less, to its inter--
section with the northwesterly line of Ashland Avenue,
as said Ashland Avenue is shown on the Map or said Tract
No. 7425, said point of intersection being distant 25
feet, measured at right angles fran the south'..resterly
line of said Tract No. 7425; thence South 560 55r 00"
West along said northwesterly line of Ashland Avenue
65.55 feet, more or less, to the southwesterly bcundary
of said 100 foot strip of land; thence North 400 30r 00"
West along said boundary 631..60 feet, more or less, to
the southerly line of said Hill street; thence easterly
and northeasterly along said line of Hill Street which
is on a curve, concave northerly and having a radius of
55 feet, through a central angle of 540 53' 59" an arc
distance of 52.70 feet to th e end of said curve; thence
North 490 30' 0011 East, along the southeasterly line of
said Hill Street, 20 feet, more or less, to the point of
beginning.
PA.11.CEL B:
Beginning at the point of intersection of the
southeasterly line of Ashland Avenue with a line parallel
with the southwesterly boundary of said 100 foot strip of
land and distant northeasterly therefrom 65 feet, more or
less, l14easured at right angles, said point of intersection
being located on said southeasterly line of Ashland Avenue,
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eOOK~)9868 PAGE350 w. o. 52017
South 590 53' 00" West 25.42 feet from the northwesterly
corner of Block 4 of Tract No. 7425, as said Ashland Avenue
and 'fract are shown on l'lap recorded in Book 86, page 66 of
1>Iaps, in the office of the Recorder of said County; thence
South 400 301 00" East along said parallel line 186.25 feet
more or less to its intersection with the northwesterly
line of Kinney street (50 feet wide) as described in the
Final Decree in Condemnation had in Case No. 292227 in the
Superior Court of the state of California in and for the
County of Los Angeles, entered March 3, 1932 in Judgment
Book 812, page 256, said point of intersection beir~ distant
25 feet, measured at right angles, frem the southwesterly
line of said Tract No. 7425; thence South 500 58' 42" West
along the northwesterly line of said Kinney street 65.02
feet, more or less, to the southwesterly boundary of said
100 foot strip of land; thence North 400 301 0011 West along
said scuthwesterly boundary 196.48 feet more or less to the
southeasterly line of said Ashland Avenue; thence North
590 531 00" East along said southeasterly line 66.0B feet,
more or leas, to the point of beginning.
EXCEPTING and reserving unto the grantor all its
right, title and interest in and to the abandoned railroad
right of way adjoining the above described Parcels A and B
on the southwest.
The above described parcels of land are shown
colored Red on plat G.E.K. 2661 hereto attached and made
a part hereof.
EXCEP1'ING and reserving, however, to the Grantor, its successors and assigns,
forever, the title and exclusive right to all of the minerals and mineral ores
of every kini and character now known to exist or hereafter discovered upon,
within or underlying said land or that may be produced therefrom including, with- 1
out limiting the generality of the foregoing, all petroleum, oil, natural gas
and other hydrocarbon substances and products derived therefrom, together with
the exclusive and perpetual right of said Grantor, its successors ani assi€1ls,
of ingress and egress beneath the surface of said land to explore for, extract,
mine and remove the same, and to make such use of the said land beneath the
surface as is necessary or useful in connection therewith, which use may include
lateral or slant drilling, digging, boring, or sinking of wells, shafts or
tunnels; prOVided however, that said Grantor, its successors and assigns, shall
not use the surface of said land in the exercise of any of said rights and shall
not disturb the surface of said land or any improY;Emmts thereon or remove or
impair the lateral or subjacent support of said land. or any improvements thereon.
This grant is made uponthe express understanding, and party of the
second part covenants and agrees, that. party of the second part shall not
erect or permit to be erected or n~intained any buildings within a space 30 feet
southwesterly of the center line of party of the first part 1 s Inglewood Freight
Rail Line for a distance of 75 feet from Hill street, Ashland Avenue and Kinney
street. Thi s is a covenant running \With the land.
SUBJECT to easements, restrictions, reservations, conditions and
covenants of record and to taxes for the fiscal year 1952-53.
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. ~ ELECTRIC RAILWAY COMPANY
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PACIFIC ELECTRIC BUILDING, 610 SOUTH MAIN STREET
I P. O. ADDRESS 208 EAST 6TH STREET
LOS ANGELES 14, CALIFORNIA IN REPLY PLEASE REFER TO
E. VAN DUSEN
MANAGER LAND AND TAX DEPARTMENT
W.O. 52017
J~ 18, 1952
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Iitle insurance and .l.'ru:.;t Company
433 .:iout.h Spring .Jtree l;, o . c4'[J o- J
Los angeles l..>~ C;d i.fornia --
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Gentlemen: Attention: i4r. G. K. otis c
Escrow No. 3666094 C ..,
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Referring to escrow instructions of JWle 26, 1952 covering
sale by Pacific Electric Railway Compal\}' to the City of Santa Honica
oi' a strip of land 05 feet wide, located oetweent.he l)",cii'ic Electric
abandoned La600n Line right of way and the Inglewood Line right of "riay,
between ~ Hill oJl:.reets, Santa Monica:
The legal description of this properby has been cL.ecked by
the City of Santa t-ionica, and attached is a revised description, which
should 08 useu in place of tile descrption ormtained in our original
escrow instructions.
'l'he reservations of interest in and to abandoned railroad
right of wa.,y adjoining Parcels A and B on the southwest as well as
the subjections 1:.0 easeiY,ents, restrictions, reservat.ions, conditions
anu coveuants of record will of course recr,ain the Sla.ee.
W-ill .you please arrange to have the preliminary report
carry the sa.me description as contained on attachment so tbat th e
City of Santd .r-lonica will be able to quickly approve the report.
YoUl's veryt.ruly,
t'
Original Signed -
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FWC:Kl' i. Van Dusen (}..-i'
Encl. (1)
Cc: City of Santa Moni#
Santa Honica., California
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CLTA Standard Coverage Policy Form
Copyright 1950
1012-1-50
Fee $ 124.00
POLICY OF TITLE INSURANCE
ISSUED BY
TITLE fN SUR A NeE 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 of:
1. Title to the land described in Schedule A being vested, at the date hereof, otherwise
than as herein stated; or
2. Unmarketability, at the date hereof, of the title to said land of any vestee named
herein, unless such unmarketability exists because of defects, liens, encumbrances,
or other matters shown or referred to in Schedule B; or
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 INSURANCE AND TRUST COMPANY
by O/qJ~t2M~~
PRESIDENT
Attest
SECRETARY
P .M.l-l.
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CLTA Standard Coverage Policy
SCHEDULE A
Amount $ 32,205.00 Date September 18, 1952 at 8 a.m. Policy No. 3666094
INSURED
CITY OF SANTA MONICA, a municipal corporation.
1. The title to said land is, at the date hereof, vested in:
CITY OF SANTA MONICA, a municipal corporation.
2. Description of land in the county of Los Angeles, state of California, title to which is insured
by this policy:
Two parcels of land in the city of Santa Monica, in the Rancho
La Ballona, as recorded in book 1 pages 301 to 310 of Patents,
in the office of the county recorder of Los Angeles County,
being those portions of that certain 100 foot strip of land
conveyed to the Southern California Railway Company by deed
recorded in book 1013 page 296 of Deeds, in the office of the
county recorder of said county, lying within the following
described lines:
Parcel A: Beginning at the point of intersection of the south-
easterly line of Hill Street (50 feet wide) with a line parallel
with the southwesterly boundary of said 100 foot strip of land
and distant northeasterly therefrom 65 feet, more or less,
measured at right angles, said point of intersection being
located on said southeasterly line of Hill Street, South 490
30' 001l West, 25 feet from the northwesterly corner of block
3 of Tract No. 7425, as said tract is shown on map recorded
in book 86 page 65 of Maps, in the office of the county
recorder of said county; thence South 400 30' 00" East along
said parallel line 616.69 feet, more or less, to its intersection
with the northwesterly line of Ashland Avenue, as said Ashland
Avenue is shown on the map of said Tract No. 7425, said point
.
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of intersection being distant 25 feet, measured at right angles
from the southwesterly line of said Tract No. 7425; thence
South 560 55' 0011 West along said northwesterly line of Ashland
Avenue 65.55 feet, more or less, to the southwesterly boundary
of said 100 foot strip of land; thence North 400 30' 0011 West
along said boundary 631.60 feet, more or less, to the southerly
line of said Hill Street; thence easterly and northeasterly along
said line of Hill Street which is on a curve, concave northerly
and having a radius of 55 feet, through a central angle of 540
53' 5911 an arc distance of 52.70 feet to the end of said curve;
thence North 490 30' 00" East along the southeasterly line of
said Hill Street, 20 feet, more or less, to the point of beginning.
Parcel B: Beginning at the point of intersection of the south-
easterly line of Ashland Avenue with a line parallel with the
southwesterly boundary of said 100 foot strip of land and dis-
tant northeasterly therefrom 65 feet, more or less, measured at
right angles, said point of intersection being located on said
southeasterly line of Ashland Avenue, South 590 53' 00" West
25.42 feet from the northwesterly corner of block 4 of Tract No.
7425, as said Ashland Avenue and tract are shown on map recorded
in book 86 page 66 of Maps, in the office of the county recorder
of said county; thence South 400 30' 001l East along said
parallel line 186.25 feet, more or less, to its intersection
with northwesterly line of Kinney Street (50 feet wide) as des-
cribed in the Final Decree in Condemnation had in Case No.
292227 in the Superior Court of the State of California in and
for the County of Los Angeles, entered March 3, 1932 in Judgment
Book 812 page 256, said point of intersection being distant 25
feet, measured at right angles, from the southwesterly line of
said Tract No. 7425; thence South 500 58' 4211 West along the
northwesterly line of said Kinney Street 65.02 feet, more or
less, to the southwesterly boundary of said 100 foot strip of
land; thence North 400 30' oolt West along said southwesterly
boundary 196.48 feet, more or less, to the southeasterly line
of said Ashland Avenue; thence North 590 53' 0011 East along
said southeasterly line 66.08 feet, more or less, to the point
of beginning.
EXCEPTING forever, the title and exclusive right to all of the
minerals and mineral ores of every kind and character now known
to exist or hereafter discovered upon, within or underlying said
land or that may be produced therefrom including, without limiting
and generality of the foregoing, all petroleum, oil, natural gas
and other hydrocarbon substances and products derived therefrom,
together with the exclusive and perpetual right of Grantor, its
successors and assigns, of ingress and egress beneath the surface
. .
of said land to explore for, extract, mine and remove the same,
and to make such use of the said land beneath the surface as is
necessary or useful in connection therewith, which use may include
lateral or slant drilling, digging, boring, or sinking of wells,
shafts or tunnels; provided however, that Grantor, its successors
and assigns shall not use the surface of said land in the exer-
cise of any of said rights and shall not disturb the surface of
said land or any improvements thereon or remove or impair the
lateral or subjacent support of said land or any improvements
thereon, as reserved by Pacific Electric Railway Company, a
corporation, in deed recorded September 18, 1952.
- .
. .
10128 .01.51
CLTA Standard Coverage Policy
SCHEDULE B
This policy does not insure against lo~s hy 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 hy
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 la~s~ ~overnmental acts or regulat~ons, including but not limi~ed to zoning ordinances, restricting, regulating
or prohIbltmg the occupancy, 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 1952-1953, a lien not yet payable.
2. An easement over a strip of land 5 feet in width situate
in the City of Santa Monica, county of Los Angeles, being a
portion of those certain parcels of land referred to in deeds
recorded in book 1557 page 195, and book 1540 page 114 of
Deeds, Records of said County, also that portion of Raymond
Avenue, accruing to the Los Angeles Pacific Railroad by
Special Ordinance of Vacation No. 68, Santa Monica City. The
said 5 foot strip being more particularly described as follows:
Beginning at a point in the southeasterly line of Hill Street,
said point being the most westerly corner of lot 1, block "DII
of the Santa Monica Tract, recorded in book 53 page 29,
Miscellaneous Records of Los Angeles County. Thence south-
easterly along the northeasterly line of that certain 130 foot
strip of land conveyed to the Los Angeles Pacific Railroad by
deed recorded in book 1557 page 195 of Deeds, Records of Los
Angeles County 356.17 feet to a point; thence southwesterly
along a line 2.5 feet southeasterly of and parallel to the
northeasterly prolongation of the center line of Raymond Avenue
as shown on the map of the Crescent Bay Tract recorded in book
2 page 13 of Maps, Records of said County 185 feet to a point;
thence along the northeasterly line of Raymond Avenue 5 feet to
a point; thence northeasterly along a line 2.5 feet northwesterly
of and parallel to the aforementioned northeasterly prolongation
of Raymond Avenue 180 feet to a point; thence northwesterly along
a line 5 feet southwesterly of and parallel to the northeasterly
line of the aforementioned 130 foot strip, 351.17 feet to a
point in the southeasterly line of Hill Street; thence north-
easterly along said line 5 feet to the point of beginning.
.
. . . .
Said strip of land 5 feet in width being more particularly
shown by the colored portion of the plat thereto attached
and made a part thereof.
3. Covenants, conditions and restrictions contained in the
deed from Pacific Electric Railway Company, a corporation,
recorded September 18, 1952.
- , '. .
. .
Cl T A Standard Cay.rage Policy Form STIPULATIONS
Copyright 1950
1012.C 6.50
1. SCOPE OF COVERAGE cuned or expended by the Company. which may be otherwise. The liability 01 the Company under tbi.
recoverable by the insured in any litigation carried policy shall in 110 case exceed, in an, tbe actual J081
This policy does not insure against, and the Company on by the Company on bebaUof the insured. The of tbe insured and costs which the Company i. obligated
will not be liable for Joss or damage created by or word "knowledgeU in rbi. paragraph means actual hereunder to pay. and in no case shall luch total
arising out of any of the following: (8) defect9. Hens, knowledge, and does not refer to constructive knowl. liability exceed tbe amount of Ihi. policy and said
claims. encumbrances, or other matters which result in edge or nolice which may be imputed to the insured costs. All payment. under this policy shall reduce the
no pecuniary loss to the insured; (b) defects. liens, by the public records. amount of the insurance pro tanto, and payment of loss
encumbrances, or other matters created or occurring or damage to an insured owner of indebtednesl shall
subsequent to t~e date hereof; (c) defects, liens, 3. NOTICE OF LOSS. LIMITATION OF ACTION reduee. to that extent, the liability of the Company to
encumbrances, or other matters created or suffered by the insured owner of said land. No payment may be
the insured claiming such )088 or damage; or (d) A statement in writing of any 10811 or damage for which demanded by any insured without producing this policy
defects, liens, claims, encumbrances, or other matt en it is claimed the Company is liable under this policy for indorsement of such payment.
existing at the date of this policy and known to tbe shall be furnished to the Company within sixty days
insured claiming such loss or damage, either at the after such loss or damage shall have been ascertained.
date of this policy or at the date 8uch insured claim. No action or proceeding for the recovery of any such 8. MANNER OF PAYMENT OF LOSS TO INSURED
ant aequired an estate or interest insured by thi9 policy, loss or damage shall he instituted or maintained Loss under this poli~y shall be payable. first, to any
unless such defect, lien, claim, encumbrance or other against the Company until after full compliance by insured owner of indebtednes9 secured by mortgage or
matter shall have been discl0ged to the Company in the insured with all the conditions imposed on the deed of trust shown in Schedule B, in order of priority
writing prior to the issuance of this policy or appeared insured by .his policy, nor unleRS commenced within therein shown, and if such ownership vests in more
at the date of this policy on the public records. Any twelve months after receipt by the Company of 8uch than one, payment shall be mad.e ratably a8 their
rights or defenses of the Company against a named written Itate_eat. respective interests may appear, and thereafter any
insured .hall be equally available against any person loss sball be payable to the other insured, and if more
or corporation who shall become an insured hereunder 4. OPTION TO PAY, SETtlE, OR COMPROMISE than one, then to such insured ratably as their respec.
as successor of such named insured. CLAIMS live interests may appear. If there be no such insured
The Company reserves the option to pay, aettle, or owner of indebtedness, any loss shall be payable to
the insured, and if more tban one, to such insured
2. DEFENSE OF ACTIONS. NOTICE OF ACTIONS compromise for. or in the name of, the insured. any ratably as their respective intereats may appear.
OR CLAIMS TO IE GIVEN IV THE INSURED claim iQsured against or to pay this policy in full at
any time, and payment or tender of payment of the
The Company at its own cost sball defend the insured fun amount of this policy, tOlether with all accrued 9. DEFINITION OF TERMS
in all litigation consi&ting of actions or proeeedinp cost. which the Company is: obligated hereunder to pay, The following terms when used in this policy mean:
against the insured. or defenses. restraining orden. or shall terminate aU liabHity of the Company here. (a) "named insured": the penonl and corporations
injunctions interposed against a foreclosure or sale of under, including all obligations of the Company with named aa insured in Schedule A of tbis policy: (b)
said land in satisfaction of any indebtedness. the respect to any litigation pending aDd subsequent coats "the insured": such named insured together with (1)
owner of which is insured by this policy, whicb litiga. tbereof.
each sUCCClsor in ownership of any indebtednea
tion is founded upon a defect, lien. encumbrance, or 8ecured by any mortgage or deed of trust shown in
other matter insured against by this policy, and may 5. SUIROGATION UPON PAYMENT OR SETTLE- Schedule B, tbe owner of wbich indebtedness iI
pursue such litigation to final determination in the MENT named herein all an insured. (2) any such owner or
court of last resort. In case any such litigation sh~lI Wbenever the Company sball have settled a claim successor in ownership of any luch indebtedness who
become known to any insured, or in case knowledge
shall come to any in!lured of any claim of tide or under this policy, it shall be subrogated to and be acquires the land described ill Schedule A or any
interest which is adverse to the title as insured or entided to all rights, securities. and remedies which part thereof, by lawful mean. in satisfaction of Mid
which might caulle 10811 or damage for which tbe the insured would have bad against any penon or indebtedness or any part thereof, (3) any governmental
Company shall or may be liable by virtue of this property in respect to such claim, had this policy not agency or instrumentality acquiring said land under
policy, such insured shall notify the Company thereof been issued. If the payment does not cover the 1081 an insurance contract or guarantee insuring or Buar.
in writing. If such notice shall not be given to the of the insured. the Company shaH be subrogated to anteeing lAid indebtedness or any part thereof~ and
Company at least two days before the appearance day 8uch rightl, securities, and remedies in the proportion (4) any person or corporation deriving an eatate or
in any such litigation. or if such insured shall not, in which said payment bears to the amount of laid losl. interetlt in said land as an heir or devisee of a named
writing. promptly notify the Company of any defect, In either event the insured shall transfer. OJ' cause to insured or by reallon of the dissolution, merger, or
lien, encumbrance, or other matter insured against, or be transferred, to the Company such rights, securities. consolidation of a corporate named insured i (c)
of any such adverse claim which shan come to the and remedies, and sball permit the Company to use "land": the land described Ipeei.6cally or by reference
knowledge of such insured, in respect to wbich 108s the name of the insured in any tranuction or litigation in Schedule A and improvement8 afli~ed thereto which
involving such rights, securities, or remedies. hy law constitute real property: (d) udate": the
or damage is apprehended, then all liability of the exact day, hour and minute specified in the fint line
Company as to each iosured having such knowledge of Schedule A (unless the context clearly requires a
shall cease and terminate; provided, however. that 6. OPTION TO PAY INSURED OWNER OF IN-
failure to so notify the Company shall in no case prej. DE.TEDNESS AND IECOME OWNER OF SECURITY different meaning); (e) "taxing agency": the State
and each county, city and county. city and district
udice the claim of any insured unless the Company The Company baa the right and option, in cue any in which laid land or some part thereof it situated that
sban be actually prejudiced by such failure. The Com. loss is claimed under this policy by an insured owner levies taxCl or aMessments on real property; (I)
pany shall have the right to institute and prosecute of an indebtedness secured by mortgage or deed of "public records": those public record. which, under
any action or proceeding or do any other act which, trust, to pay such insured the indebtedneu of the the recording laws, impart constructive Dotice of Jnat.
in its opinion, may be necessary or desirable to mortgagor 01' trustor under said mortgage or deed of ters relating to said land.
establish the title. or any insured lien or charge. a8 trust, together with all costs which the Company is
insured. In all cases where this policy permits or obligated hereunder to pay, in which case __the Com.
requires the Company to prollecute or defend any pany shaU become the owner of, and luch inlured 10. WRITTEN INDORSEMENT REOUIRED TO
action or proceeding. the insured shall secure to it in shall at once Inigo and transfer to the Company, said CHANGE POLICY
writing the right to so prosecute or defend such action mortgage or deed of trust and tbe indebtedness there. No provision or condition of this poliey can be waived
or proceeding, and all appeals therein, and permit it by secured, and such payment Ihall terminate all or changed except by writing indorsed hereoD or at.
to UIe. at its option, the name of the insured for .uch liability under this policy to such iDlUred. tacbed bereto signed by the President, a Vice Presi~
purpose. Whenever requested by tbe Company the dent, the SecretarYt or aD Assistant Secretary of tbe
insured shall &SlIist the Company in any such action 7. PAYMENT OF LOSS AND COSTS OF LITIGATION. Company.
or proceeding, in effecting aettlement, securing evi. INDORSEMENT OF PAYMENT ON POLICY
dence. obtaining witnesses, prosecuting or defending 11. NOTICES, WHERE SENT
such action or proceeding. to such extent and in luch The Company win pay. in addition to any 1081 insured
manner a8 is deemed desirable by the Company~ and against by this policy, all costs imp08ed upon the in. All notices required to be given the Company and any
the Company shall reimburse the insured for any sured in litigation carried on. by the Company for the statement in writing required to be furnished the Com.
expense so incurred. The Company shall be subrogated insured, and in litigation carried on by the insured pany shan be addresui to it at the office which issued
to and be entitled to all COlts and attomey.' feee in. with the written authorization of the Company.~but Dot this polley.
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