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HomeMy WebLinkAbout20191216_ApplicationCommunity Development Department Planning Permit Application 1. Check Permits Requested: D Approval-in-Concept -AIC # Ii] Coastal Development Permit D Lot Merger D Limited Term Permit - D Waiver for De Minimis Development D Seasonal D < 90 day 0 >90 days D Coastal Residential Development D Modification Permit D Condominium Conversion D Off-Site Parking Agreement D Comprehensive Sign Program D Planned Community Development Plan D Development Agreement D Planned Development Permit D Development Plan D Site Development Review -D Major D Minor D Lot Line Adjustment D Parcel Map 2. Project Address(es)/Assessor's Parcel No(s) 112 Agate Avenu e, Newport Beach, CA 92662-1002 CITY CJF NLWPLIR·, B[ACH 100 Civic Center Drive Newport Beach, Californ ia 92660 949 644-3200 newportbeachca.gov/co mmunitydevelopment D Staff Approval D Tract Map D Traffic Study D Use Permit -OMinor Otonditional D Amendment to existing Use Permit D Variance 0 Amendment -OCode OPC OGP OLCP 0 Other: 3. Project Description and Justification (Attach additional sheets if necessary): !Remodel a,d add 147 Net SF 4. Applicant/Company Name l scott Peotter/ASLAN COMPANIES, Inc. I Suite/Unit IA-30 5 J M .1. Add 114252 Culver Drive a1 mg ress City !Irvine Phone 1949-250-7118 Fax 1949-250-7116 ';:::====== State l cA J Zip 1 92604 I J Email l speotter@aslanco.com j Same 5. Contact/Company~N~a~m~e~======================.-----~==========::;' Mailing Address Suite/Unit ~----~ City '-;==========.---;:=====--S::=:tate '----;::::========'.._j ~Z~i~p~======. Phone ~--------~J Fax '-------..-Jj Email ,__ ______________ __, 6 _ Owner Name La P lante Family Trust/Phillip La Plante , Successor Trustee M .1. Add i 119 Turquoise Avenue a1 mg ress City !Newport Beach Phone 1949-378-7740 Suite/Unit ';:::========= State ~lc_A--;::::===========:::::.....j ....!::.Z~ip~'= 9=26=6=2 ===:::=. I Fax .,__ ______ _;I Email phillip@pacificcoastinvestments .biz 7 P rt O , Aff"d "t* (I) /\Al ) 'Phillip LaPlante . rope y wners I av1 : ,vve ,.._ ___________________________ ..., depose and say that (I am) (we are) the owner(s) of the property (ies) involved in this application. (I) (We) further certify , under penalty of perjury, that the foregoing statements and answers herein contained and the information herewith submitted are in all respects ue and correct to the best of (my) (our) knowledge and belief. Title: !successor Trustee I Date: 11211512019 DD/MO/YE AR Signature(s): ---------------Title:,_ _________ __,! Date:~-----~ *May be s igned by the lessee or by an authorized agent if written authorization from the owner of record is filed concurrently with the application. Please note, the owner(s)' signature for Parcel/Tract Map and Lot Line Adjustment Application must be notarized . F:\Users\CDD\Shared\Admin\Planning_Division\Applications\Appl ication_Guidelines\Planning Permit Appli cation -CDP added.docx Rev: 0 1124/17 PA2019-260 F:\Users\PLN\Shared\Staff_Dir\Garciamay\Ruby\desktop\DESKTOP_\CUT_PASTE_DRAG_COPY\Office Use Only.docx Updated 08/15/17 FOR OFFICE USE ONLY\ Date Filed: _______________________ 2700-5000 Acct. APN No: __________________________ Deposit Acct. No. ________________________ Council District No.: _________________ For Deposit Account: General Plan Designation: ____________ Fee Pd: _______________________________________ Zoning District: _____________________ Receipt No: ____________________________ Coastal Zone: Yes No Check #: __________ Visa MC Amex # ____________ CDM Residents Association and Chamber Community Association(s): _______________________ Development No: __________________________ _____________________________________________ Project No: ________________________________ _____________________________________________ Activity No: _______________________________ Related Permits: ___________________________ APPLICATION Approved Denied Tabled: _________________________ ACTION DATE Planning Commission Meeting Zoning Administrator Hearing Community Development Director Remarks: __________________________________________________________________________________________ __________________________________________________________________________________________ APPLICATION WITHDRAWN: Withdrawal Received (Date): ________________________ APPLICATION CLOSED WITHOUT ACTION: Closeout Date: ________________________ Remarks: __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ __________________________________________________________________________________________ 050 052 20 12.16.2019 5 MU-W2 MU-W2 PA2019-260 Balboa Island Improvement D2019-0621 CD2019-072 PA2019-260 ASLAN COMPANIES, INC. C:949-250-7118 SPEOTTER@ASLANCO.COM - WWW.ASLANCO.COM 14252 CULVER DRIVE, SUITE A-305, IRVINE, CA 92604 December 16 2019 City of Newport Beach 100 Civic Center Drive Newport Beach, CA 92660 Subject: Coastal Development Permit Project Description 112 Agate Avenue Newport Beach, CA 92662-1002 This letter is to provide the project description for the Coastal Development Permit. Existing Project: 1. Existing Building with Commercial on 1st Floor, Residential on 2nd Floor, and 2 existing residential parking spaces. 2. Existing 1st Floor has an existing 1,657 Gross SF Laundrymat. 3. Existing 2nd Floor has an existing 1,478 Gross SF single Family Residential Unit. Proposed Scope of Work for Modification: 1. Add Small Landscape planters to frontage along agate, no other modification to the site is planned. No paving and no grading. 2. Replace storefront on existing 1st Floor Laundrymat, repaint/refinish exterior walls. No interior modifications proposed. 3. Remodel Existing 2nd Floor, remove 108 SF for an exterior balcony and remove an existing bedroom to provide for an exterior stairway. 4. Add 3rd Floor patio and 255 SF bedroom/bath 5. Net Additional Floor Area added to project is 147SF (less than a 10 % increase in total residential floor area) 6. 3rd Floor Patio consists of a 366SF Covered Patio and a 359SF Deck. Approvals Required: 1. Coastal Development Permit PA2019-260 112 Agate Avenue Coastal Development Permit December 16, 2019 Page 2 Findings for the Coastal Development Permit: 1. This proposed project conforms to all applicable sections of the certified Local Coastal Program (e.g. development standards, no impacts to public views, natural resources, etc.); and 2. The project is NOT located between the nearest public road and the sea or shoreline of any body of water located within the coastal zone. Please advise us if there is anything further required to complete this application. Sincerely, ASLAN COMPANIES, INC Scott Peotter, Architect PA2019-260 5000 Birch Street, Suite 550, Newport Beach, CA 92660 Main:(833) 692-3958 |Direct: 949-522-6046 |Fax: 855-454-6042 Residential First Capital 20151 SW Birch Street, Suite 200 Newport Beach, CA 92660 Attention: Post Closing Department Loan Reference #:19-2477 Our Reference #:CA0210-19003196-20 Borrower Name(s):Phillip Lawrence LaPlante Property Address:112 Agate Avenue, Newport Beach, CA 92662-1002 Enclosed herewith please find the requested Policy of Title Insurance in connection with the above referenced transaction. We appreciate the opportunity to have been of service to you. Should you have any questions regarding this transaction or the enclosed Policy of Title Insurance, please do not hesitate to contact us at stewartnowpolicy@Stewart.com . Please include the policy issue and reference number CA0210-19003196-20. Sincerely, Silvina Grimaldo PA2019-260 5000 Birch Street, Suite 550, Newport Beach, CA 92660 Main:(833) 692-3958 |Direct: 949-522-6046 |Fax: 855-454-6042 Stewart Title of California 5000 Birch St., #550 Newport Beach, CA 92660 Attention:Morgan Beck Reference #: CA0240-19101394-MO Our Reference #:CA0210-19003196-20 Enclosed herewith please find the requested Policy of Title Insurance in connection with the above referenced transaction. We appreciate the opportunity to have been of service to you. Should you have any questions regarding this transaction or the enclosed Policy of Title Insurance, please do not hesitate to contact us at stewartnowpolicy@Stewart.com . Please include the policy issue and reference number CA0210-19003196-20. Sincerely, Silvina Grimaldo PA2019-260 Page 3 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Covered Risks POLICY OF TITLE INSURANCE CLTA STANDARD COVERAGE 1990 Issued By: STEWART TITLE GUARANTY COMPANY Policy Number: O-2922-000021136 SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, STEWART TITLE GUARANTY COMPANY, a Texas corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the 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 the title; 3.Unmarketability of the title; 4.Lack of right of access to and from the land; and in addition, as to an insured lender only: 5.The invalidity or unenforceability of the lien of the insured mortgage upon the title; 6.The priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being shown in Schedule B in the order of priority. 7.The invalidity or unenforceability of any assignment of the insured mortgage, provided the assignment is shown in Schedule B, or the failure of the assignment shown in Schedule B to vest title to the insured mortgage in the named insured assignee free and clear of all liens. The Company will also pay the costs, attorneys’ fees and expenses incurred in defense of the title or the lien of the insured mortgage, as insured, but only to the extent provided in the Conditions and Stipulations. Stewart Title of California 5000 Birch Street Newport Beach, CA 92660 PA2019-260 Page 4 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Exclusions EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys’ fees are expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulations (including but not limited to building or zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (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 paid value for the insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy, or the inability or failure of any subsequent owner of the indebtedness, to comply with the applicable doing business laws of the state in which the land is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any claim, which arises out of the transaction vesting in the insured the estate of interest insured by this policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors’ rights laws. PA2019-260 CONDITIONS AND STIPULATIONS Page 5 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations 1.Definition of Terms. The following terms when used in this policy mean: (a) “insured”: the insured name in Schedule A, and, subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest of the named insured by operation of law as distinguished from purchase including but not limited to, heirs, distributees, devisees, survivors, personal representatives, next of kin, or corporate or fiduciary successors. The term “insured” also includes: (i) the owner of the indebtedness secured by the insured mortgage and each successor in ownership of the indebtedness except a successor who is an obligor under the provisions of Section 12(c) of these Conditions and Stipulations (reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor insured, unless the successor acquired the indebtedness as a purchaser for the value without knowledge of the asserted defect, lien encumbrance, adverse claim or other matter insured against by this policy as affecting title to the estate or interest in the land); (ii) any governmental agency or governmental instrumentality which is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing the indebtedness secured by the insured mortgage, or any part thereof, whether named as an insured herein or not; (iii) the parties designated in Section 2(a) of these Conditions and Stipulations. (iv) Subject to any rights or defenses the Company would have had against the named insured, (A) the spouse of an insured who receives title to the land because of dissolution of marriage, (B) the trustee or successor trustee of a trust or any estate planning entity created for the insured to whom or to which the insured transfers title to the land after the Date of Policy or (C) the beneficiaries of such a trust upon the death of the insured. (b) “insured claimant”: an insured claiming loss or damage. (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” or “known”: actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (f) “land”: the land described or referred to in Schedule [A] [C], and improvements affixed thereto which by law constitute real property. The term “land” does not include any property beyond the lines of the area described or referred to in Schedule [A] [C], nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (g) “mortgage”: mortgage, deed of trust, trust deed, or other security instrument. (h) “public records”: records established under the state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. (i) “unmarketability of the title”: an alleged or apparent matter affecting the title to the land, not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A or the insured mortgage to be released from the obligation to purchase by virtue of a contractual condition requiring delivery of marketable title. 2.Continuation of Insurance. PA2019-260 CONDITIONS AND STIPULATIONS Page 6 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations (a) After Acquisition of Title by Insured Lender. If this policy insures the owner of the indebtedness secured by the insured mortgage, the coverage of this policy shall continue in force as of Date of Policy in favor of (i) such insured lender who acquires all or any part of the estate or interest in the land by foreclosure, trustee’s sale, conveyance in lieu of foreclosure, or other legal manner which discharges the lien of the insured mortgage; (ii) a transferee of the estate or interest so acquired from an insured corporation, provided the transferee is the parent or wholly-owned subsidiary of the insured corporation, and their corporate successors by operation of law and not by purchase, subject to any rights or defenses the Company may have against any predecessor insureds; and (iii) any governmental agency or governmental 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. (b) After Conveyance of Title by an Insured. The coverage of this policy shall continue in force as of Date of Policy in favor of an insured only so long as the insured retains an estate or interest in the land, or holds an indebtedness secured by a purchase money mortgage given by a purchaser from the insured, or only so long as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from an insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a purchase money mortgage given to an insured. (c) Amount of Insurance. The amount of insurance after the acquisition or after the conveyance by an insured lender shall in neither event exceed the least of: (i) The amount of insurance stated in Schedule A; (ii) The amount of the principal of the indebtedness secured by the insured mortgage as of Date of Policy, interest thereon, expenses of foreclosure, amounts advanced pursuant to the insured mortgage to assure compliance with laws or to protect the lien of the insured mortgage prior to the time of acquisition of the estate or interest in the land and secured thereby and reasonable amounts expended to prevent deterioration of improvements, but reduced by the amount of all payments made; or (iii) The amount paid by a governmental agency or governmental instrumentality, if the agency or the instrumentality is the insured claimant, in the acquisition of the estate or interest in satisfaction of its insurance contract or guaranty. 3.Notice of Claim to be Given by Insured Claimant. An insured shall notify the Company promptly in writing (i) in case of any litigation as set forth in 4(a) below, (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 prompt notice shall not be given to the Company, then as to that insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is required; provided, however, that failure to notify the Company shall in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4.Defense and Prosecution of Actions; Duty of Insured Claimant to Cooperate. (a) Upon written request by an insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without reasonable delay, shall provide for the defense of such insured in litigation in which any third party asserts a claim adverse to the title or interest as insured, but only as to those stated causes of action alleging a defect, lien or encumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of such insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be liable for and will not pay the fees of any other counsel. The company will not pay any fees, costs or expenses incurred by an insured in the defense of those causes of action which allege matters not insured against by this policy. PA2019-260 CONDITIONS AND STIPULATIONS Page 7 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations (b) The Company shall have the right, at its own cost, to institute and 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, or to prevent or reduce loss or damage to an insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this policy, the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, in its sole discretion, to appeal from any adverse judgement or order. (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, an insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of such insured for this purpose. Whenever requested by the Company, an insured, at the Company’s expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawful 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. If the Company is prejudiced by the failure of an insured to furnish the required cooperation, the Company’s obligations to such insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5.Proof or Loss of Damage. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by each insured claimant shall be furnished to the Company within 90 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The 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 shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure of an insured claimant to provide the required proof of loss or damage, the Company's obligations to such insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, an insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examination, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, correspondence and memoranda, whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the insured claimant shall grant its permission, in writing, for any authorized representative of the Company to examine, inspect and copy all records, books, ledgers, checks, correspondence and memoranda in the custody or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by an insured claimant provided to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgement of the Company, it is necessary in the administration of the claim. Failure of an insured claimant to submit for examination under oath, produce other reasonably requested information or grant permission to secure reasonably necessary information from third parties as required in this paragraph, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that insured for that claim. 6.Options to Pay or Otherwise Settle Claims; Termination of Liability. In case of a claim under this policy, the Company shall have the following additional options: PA2019-260 CONDITIONS AND STIPULATIONS Page 8 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations (a) To Pay or Tender Payment of the Amount of Insurance or to Purchase the Indebtedness (i) to pay or tender payment of the amount of insurance under this policy together with any costs, attorneys’ fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay; or (ii) in case loss or damage is claimed under this policy by the owner of the indebtedness secured by the insured mortgage, to purchase the indebtedness secured by the insured mortgage for the amount owning thereon together with any costs, attorneys’ fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of purchase and which the Company is obligated to pay. If the Company offers to purchase the indebtedness as herein provided, the owner of the indebtedness shall transfer, assign, and convey the indebtedness and the insured mortgage, together with any collateral security, to the Company upon payment therefor. Upon the exercise by the Company of the option provided for in paragraph a(i), all liability and obligations to the insured under this policy, other than to make the payment required in that paragraph, shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, and the policy shall be surrendered to the Company for cancellation. Upon the exercise by the Company of the option provided for in paragraph a(ii) the Company's obligation to an insured Lender under this policy for the claimed loss or damage, other than the payment required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. (b) To Pay or Otherwise Settle with Parties Other than the Insured or With the Insured Claimant. (i) to pay or otherwise settle with other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs b(i) or b(ii), the Company’s obligations to the insured under this policy for the claimed loss or damage, other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. 7.Determination and Extent of Liability. This policy is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy to an insured lender shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A, or, if applicable, the amount of insurance as defined in Section 2 (c) of these Conditions and Stipulations; (ii) the amount of the unpaid principal indebtedness secured by the insured mortgage as limited or provided under Section 8 of these Conditions and Stipulations or as reduced under Section 9 of these Conditions and Stipulations, at the time the loss or damage insured against by this policy occurs, together with interest thereon; or (iii) the difference between the value of the insured estate or interest as insured and the value of PA2019-260 CONDITIONS AND STIPULATIONS Page 9 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (b) In the event the insured lender has acquired the estate or interest in the manner described in Section 2(a) of these Conditions and Stipulations or has conveyed the title, then the liability of the Company shall continue as set forth in Section 7(a) of these Conditions and Stipulations. (c) The liability of the Company under this policy to an insured owner of the estate or interest in the land described in Schedule A shall not exceed the least of: (i) the Amount of Insurance stated in Schedule A; or, (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy. (d) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of these Conditions and Stipulations. 8.Limitation of Liability. (a) If the Company establishes the title, or removes the alleged defect, lien or encumbrance, or cures the lack of a right of access to or from the land, or cures the claim of unmarketability of title, or otherwise establishes the lien of the insured mortgage, all as insured, in a reasonably diligent manner by any method, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of all appeals therefrom, adverse to the title, or, if applicable, to the lien of the insured mortgage, as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. (d) The Company shall not be liable to an insured lender for: (i) any indebtedness created subsequent to Date of Policy except for advances made to protect the lien of the insured mortgage and secured thereby and reasonable amounts expended to prevent deterioration of improvements; or (ii) construction loan advances made subsequent to Date of Policy, except construction loan advances made subsequent to Date of Policy for the purpose of financing in whole or in part the construction of an improvement to the land which at Date of Policy were secured by the insured mortgage and which the insured was and continued to be obligated to advance at and after Date of Policy. 9.Reduction of Insurance; Reduction or Termination of Liability. (a) All payments under this policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of insurance pro tanto. However, as to an insured lender, any payments made prior to the acquisition of title to the estate or interest as provided in Section 2(a) of these Conditions and Stipulations shall not reduce pro tanto the amount of insurance afforded under this policy as to any such insured, except to the extent that the payments reduce the amount of the indebtedness secured by the insured mortgage. (b) Payment in part by any person of the principal of the indebtedness, or any other obligation secured by the insured mortgage, or any voluntary partial satisfaction or release of the insured mortgage, to the extent of the payment, satisfaction or release, shall reduce the amount of insurance pro tanto. The amount of insurance may thereafter be increased by accruing interest and advances made to protect the lien of the insured mortgage and secured thereby, with interest thereon, provided in no event shall the amount of insurance be greater than the Amount of Insurance stated in Schedule A. PA2019-260 CONDITIONS AND STIPULATIONS Page 10 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations (c) Payment in full by any person or the voluntary satisfaction or release of the insured mortgage shall terminate all liability of the Company to an insured lender except as provided in Section 2(a) of these Conditions and Stipulations. 10.Liability Noncumulative. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and 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 to the insured owner. The provisions of this Section shall not apply to an insured lender, unless such insured acquires title to said estate or interest in satisfaction of the indebtedness secured by an insured mortgage. 11.Payment of Loss. (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fixed in accordance with these Conditions and Stipulations, the loss or damage shall be payable within 30 days thereafter. 12.Subrogation Upon Payment or Settlement. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and be entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this policy not been issued. If requested by the Company, the insured claimant shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the insured claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogated (i) as to an insured owner, to all rights and remedies in the proportion which the Company's payment bears to the whole amount of the loss; and (ii) as to an insured lender, to all rights and remedies of the insured claimant after the insured claimant shall have recovered its principal, interest, and costs of collection. If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (b) The Insured's Rights and Limitations. Notwithstanding the foregoing, the owner of the indebtedness secured by an insured mortgage, provided the priority of the lien of the insured mortgage or its enforceability is not affected, may release or substitute the personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the insured mortgage, or release any collateral security for the indebtedness. When the permitted acts of the insured claimant occur and the insured has knowledge of any claim of title or interest adverse to the title to the estate or interest or the priority or enforceability of the lien of an insured mortgage, as insured, the Company shall be required to pay only that part of any losses insured against by this PA2019-260 CONDITIONS AND STIPULATIONS Page 11 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Conditions & Stipulations policy which shall exceed the amount, if any, lost to the Company by reason of the impairment by the insured claimant of the Company's right of subrogation. (c) The Company's Rights Against Non-insured Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide for subrogation rights by reason of this policy. The Company’s right of subrogation shall not be avoided by acquisition of an insured mortgage by an obligor (except an obligor described in Section 1(a)(ii) of these Conditions and Stipulations) who acquires the insured mortgage as a result of an indemnity, guarantee, other policy of insurance, or bond and the obligor will not be an insured under this policy, notwithstanding Section 1(a)(i) of these Conditions and Stipulations. 13.Arbitration. Unless prohibited by applicable law, either the Company or the insured may demand arbitration pursuant to the Title Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less shall be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgement upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 14.Liability Limited to This Policy; Policy Entire Contract. (a) This policy together with all endorsements, if any, attached hereto by the Company is the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) 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 by any action asserting such claim, shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed 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. 15.Severability. In the event any provision of the policy is held invalid or unenforceable under applicable law, the policy shall be deemed not to include that provision and all other provisions shall remain in full force and effect. 16.Notices, Where Sent. All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company at 1980 Post Oak Boulevard., Suite 710, Houston, TX 77252-2029. PA2019-260 Page 12 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Schedule A STEWART TITLE GUARANTY COMPANY Schedule A Issuing Office File No.: CA0210-19003196-20 Policy No.: O-2922-000021136 Amount of Insurance: $600,000.00 Premium Amount: $1,240.00 Date of Policy: August 23, 2019 at 04:04 PM Address Reference:112 Agate Avenue, Newport Beach, CA 92662-1002 1. Name of Insured: Lydia J. Thayer, Trustee of the Lydia J. Thayer Family Trust, Dated December 19, 1997, as to an undivided 200,000/600,000 interest and Steven F. Grosslight and Kathleen Lee Grosslight, Trustees of the Grosslight Family Trust dated July 3, 1991, As Amended and Restated on October 21, 2014 as to an undivided 153,500/600,000 interest and Dean E. Thayer, Trustee of the Dean E. Thayer Trust dated 5/24/2011 as to an undivided 150,000/600,000 interest and Dean E. Thayer 401k Profit Sharing Plan as to an undivided 50,000/600,000 interest and PENSCO Trust Company, LLC, Custodian FBO Debra A. Rorex, IRA as to an undivided 25,000/600,000 interest and Equity Trust Company Custodian FBO of Beth Lindsay IRA 200230079 as to an undivided 21,500/600,000 interest, all as Tenants in Common 2. The estate or interest in the Land which is covered by this policy is: A Fee 3. Title to the estate or interest covered hereby at the date hereof is vested in: Phillip Lawrence LaPlante, Succesor Trustee of The LaPlante Family Trust Established May 8, 1989 4. The land referred to herein is situated in the County of Orange, State of California, and is described as follows: Lot 31, Block 9 Resubdivision of Section 1, Balboa Island, as per Map recorded in Book 6, Page 30 of Miscellaneous Maps, records of the said County. Subject To: Covenants, Conditions, Restrictions, Reservations Easements and rights of way of record, if any. APN: 050-052-20 Stewart Title of California 5000 Birch Street Newport Beach, CA 92660 PA2019-260 Page 13 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Schedule B SCHEDULE B EXCEPTIONS 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. Proceeding 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 which may be asserted by 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, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 6. Any lien or right to a lien for services, labor or material not shown by the public records. PART II 1. Property taxes, which are a lien not yet due and payable, including any assessments collected with taxes, to be levied for the fiscal year 2019 - 2020 which are a lien not yet payable. 2. Assessments, if any, for community facility districts affecting said land which may exist by virtue of assessment maps or notices filed by said districts. Said assessments are collected with the County Taxes. 3. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (commencing with Section 75) of the revenue and taxation code of the State of California. 4. Water rights, claims or title to water in or under said land, whether or not shown by the public records. 5. Covenants, conditions, and restrictions as set forth in instrument recorded November 28, 1911 in Book 204 and Page 74, of Deeds, but omitting any covenant, condition or restriction, if any, based on race, color, religion, sex, handicap, familial status, or national origin unless and only to the extent that the covenant, condition or restriction (a) is exempt under Title 42 of the United States Code, or (b) relates to handicap, but does not discriminate against handicapped persons. Said covenants, conditions, and restrictions provide that a violation thereof shall not defeat or render invalid the lien of any mortgage or deed of trust made in good faith and for value. Section 12956.1 of the Government Code provides the following: If this document contains any restrictions based on race, color, religion, sex, familial status, marital status, disability, national origin, or ancestry, that restriction violates state and federal fair housing laws and is void, and may be removed pursuant to Section 12956.1 of the Government Code. Lawful restrictions under state and federal law on the age of occupants in senior housing or housing for older persons shall not be construed as restrictions based on familial status. 6. Impairment, loss or failure of title to the beneficial interest transferred resulting from: (A) Any claim because (1) the note or notes secured by the lien of the Insured Mortgage have not been properly endorsed and delivered to the Insured, or (2) if the note or notes are transferable records, the insured does not have "control" of the single authoritative copy of each "transferable record" as these terms are defined by applicable electronic transactions laws. (B) Any claim, allegation or determination that the beneficial interest insured herein, or the underlying transaction involves the sale of a Security and/or is in violation of State or Federal Securities Laws (C) Any claim, allegation, or challenge in foreclosure or bankruptcy proceedings or tax-related claim or loss PA2019-260 Page 14 of 16 Order No: CA0210-19003196-20 Policy No: O-2922-000021136 Schedule B resulting from the identity or structure of any named insured. 7. Deed of Trust to secure an indebtedness in the amount shown below, and any other obligations secured thereby: Amount: $600,000.00 Dated: August 15, 2019 Trustor: Phillip Lawrence LaPlante, Succesor Trustee of The LaPlante Family Trust Established May 8, 1989 Trustee: Financial Corporation, a California Corporation Beneficiary: Lydia J. Thayer, Trustee of the Lydia J. Thayer Family Trust, dated December 19, 1997, as to an undivided 200,000/600,000 interest and Steven F. Grosslight and Kathleen Lee Grosslight, Trustees of the Grosslight Family Trust dated July 3, 1991, as amended and restated on October 21, 2014, as to an undivided 153,500/600,000 interest and Dean E. Thayer, Trustee of the Dean E. Thayer Trust dated 05/24/2011 as to an undivided 150,000/600,000 interest and Dean E. Thayer 401k Profit Sharing Plan as to an undivided 50,000/600,000 interest and PENSCO Trust Company, LLC, Custodian FBO Debra A. Rorex, IRA as to an undivided 25,000/600,000 interest and Equity Trust Company Custodian FBO of Beth Lindsay IRA 200230079, as to an undivided 21,500/600,000 interest, all as tenants in common Recorded: August 23, 2019 as Instrument Number 2019000315256 of Official Records. PA2019-260 This map is for your aid in locating the subject property with reference to streets and other parcels. While this map is believed to be correct, Stewart Title of California and subsequent insurance companies, assume no liability for any loss occurred by reason of reliance thereon. 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