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HomeMy WebLinkAboutPA2022-0162_20220729_Condition of Title GuaranteeCLTA Guarantee Face Page (06-05-14) Page 1 © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. Commonwealth Land Title Insurance Company GUARANTEE NO.: CA-SFXFC-IMP-81G28-1-22-92017638 CCLLTTAA GGUUAARRAANNTTEEEE FFAACCEE PPAAGGEE SUBJECT TO THE EXCLUSIONS FROM COVERAGE, AND THE GUARANTEE CONDITIONS ATTACHED HERETO AND MADE A PART OF THIS GUARANTEE, COMMONWEALTH LAND TITLE INSURANCE COMPANY a corporation, herein called the Company GUARANTEES the Assured named in Schedule A of this Guarantee against loss or damage not exceeding the Amount of Liability stated in Schedule A sustained by the Assured by reason of any incorrectness in the Assurances set forth in Schedule A. Commonwealth Land Title Insurance Company Countersigned: By: Authorized Officer or Agent PA2022-0162 Order No. 92017638-920-CMM-CM8 Guarantee No. CA-SFXFC-IMP-81G28-1-22-92017638 CLTA Guarantee Exclusions and Conditions (06-05-14)Page 2 © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. GUARANTEE EXCLUSIONS AND CONDITIONS (06-05-14) EXCLUSIONS FROM COVERAGE Except as expressly provided by the assurances in Schedule A, the Company assumes no liability for loss or damage by reason of the following: (a) Defects, liens, encumbrances, adverse claims or other matters affecting the title to any property beyond the lines of the Land. (b) Defects, liens, encumbrances, adverse claims or other matters, whether or not shown by the Public Records (1) that are created, suffered, assumed or agreed to by one or more of the Assureds; or (2) that result in no loss to the Assured. (c) Defects, liens, encumbrances, adverse claims or other matters not shown by the Public Records. (d) The identity of any party shown or referred to in any of the schedules of this Guarantee. (e)The validity, legal effect or priority of any matter shown or referred to in any of the schedules of this Guarantee. (f)(1) Taxes or assessments of any taxing authority that levies taxes or assessments on real property; or, (2) proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not the matters excluded under (1) or (2) are shown by the records of the taxing authority or by the Public Records. (g) (1) Unpatented mining claims; (2) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (3) water rights, claims or title to water, whether or not the matters excluded under (1), (2) or (3) are shown by the Public Records. GUARANTEE CONDITIONS 1. Definition of Terms. The following terms when used in the Guarantee mean: (a)the "Assured": the party or parties named as the Assured in Schedule A, or on a supplemental writing executed by the Company. (b) "Land": the Land described or referred to in Schedule A, 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, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways. (c) "Mortgage": mortgage, deed of trust, trust deed, or other security instrument. (d) "Public Records": those records established under California statutes at Date of Guarantee for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. (e) "Date of Guarantee": the Date of Guarantee set forth in Schedule A. (f) “Amount of Liability”: the Amount of Liability as stated in Schedule A. 2. Notice of Claim to be Given by Assured. The Assured shall notify the Company promptly in writing in case knowledge shall come to the Assured of any assertion of facts, or claim of title or interest that is contrary to the assurances set forth in Schedule A and that might cause loss or damage for which the Company may be liable under this Guarantee. If prompt notice shall not be given to the Company, then 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 the Assured under this Guarantee unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 3. No Duty to Defend or Prosecute. The Company shall have no duty to defend or prosecute any action or proceeding to which the Assured is a party, notwithstanding the nature of any allegation in such action or proceeding. 4. Company's Option to Defend or Prosecute Actions; Duty of Assured to Cooperate. Even though the Company has no duty to defend or prosecute as set forth in Paragraph 3 above: (a) The Company shall have the right, at its sole option and cost, to institute and prosecute any action or proceeding, interpose a defense, as limited in Paragraph 4 (b), or to do any other act which in its opinion may be necessary or desirable to establish the correctness of the assurances set forth in Schedule A or to prevent or reduce loss or damage to the Assured. The Company may take any appropriate action under the terms of this Guarantee, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this Guarantee. If the Company shall exercise its rights under this paragraph, it shall do so diligently. (b) If the Company elects to exercise its options as stated in Paragraph 4(a) the Company shall have the right to select counsel of its choice (subject to the right of the Assured to object for reasonable cause) to represent the Assured and shall not be liable for and will not pay the fees of any other counsel, nor will the Company pay any fees, costs or expenses incurred by an Assured in the defense of those causes of action which allege matters not covered by this Guarantee. (c) Whenever the Company shall have brought an action or interposed a defense as permitted by the provisions of this Guarantee, 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 an adverse judgment or order. (d) In all cases where this Guarantee permits the Company to prosecute or provide for the defense of any action or proceeding, the Assured shall secure to the Company the right to so prosecute or provide for the defense of any action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the Assured for this purpose. Whenever requested by the Company, the Assured, at the Company's expense, shall give the Company all reasonable aid in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or lawful act which in the opinion of the Company may be necessary or desirable to establish the correctness of the assurances set forth in Schedule A or to prevent or reduce loss or damage to the Assured. If the Company is prejudiced by the failure of the Assured to furnish the required cooperation, the Company's obligations to the Assured under the Guarantee shall terminate. 5. Proof of Loss or Damage. (a)In the event the Company is unable to determine the amount of loss or damage, the Company may, at its option, require as a condition of payment that the Assured furnish a signed proof of loss. The proof of loss must describe the defect, lien, encumbrance, or other matter that 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. (b) In addition, the Assured 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 Guarantee, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company, the Assured 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 the Assured provided to the Company pursuant to this paragraph shall not be disclosed to others unless, in the reasonable judgment of the Company, it is necessary in the administration of the claim. Failure of the Assured to submit for examination under oath, produce other reasonably requested PA2022-0162 Order No. 92017638-920-CMM-CM8 Guarantee No. CA-SFXFC-IMP-81G28-1-22-92017638 CLTA Guarantee Exclusions and Conditions (06-05-14)Page 3 © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. information or grant permission to secure reasonably necessary information from third parties as required in the above paragraph, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this Guarantee to the Assured for that claim. 6. Options to Pay or Otherwise Settle Claims: Termination of Liability. In case of a claim under this Guarantee, the Company shall have the following additional options: (a) To pay or tender payment of the Amount of Liability together with any costs, attorneys’ fees, and expenses incurred by the Assured that were authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to pay. (b) To pay or otherwise settle with the Assured any claim assured against under this Guarantee. In addition, the Company will pay any costs, attorneys' fees, and expenses incurred by the Assured that were authorized by the Company up to the time of payment or tender of payment and that that the Company is obligated to pay; or (c) To pay or otherwise settle with other parties for the loss or damage provided for under this Guarantee, together with any costs, attorneys' fees, and expenses incurred by the Assured that were authorized by the Company up to the time of payment and that the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in 6 (a), (b) or (c) of this paragraph the Company’s obligations to the Assured under this Guarantee for the claimed loss or damage, other than the payments required to be made, shall terminate, including any duty to continue any and all litigation initiated by the Company pursuant to Paragraph 4. 7. Limitation of Liability. (a) This Guarantee is a contract of Indemnity against actual monetary loss or damage sustained or incurred by the Assured claimant who has suffered loss or damage by reason of reliance upon the assurances set forth in Schedule A and only to the extent herein described, and subject to the Exclusions From Coverage of this Guarantee. (b) If the Company, or the Assured under the direction of the Company at the Company’s expense, removes the alleged defect, lien or, encumbrance or cures any other matter assured against by this Guarantee 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. (c) In the event of any 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. (d) The Company shall not be liable for loss or damage to the Assured for liability voluntarily assumed by the Assured in settling any claim or suit without the prior written consent of the Company. 8. Reduction of Liability or Termination of Liability. All payments under this Guarantee, except payments made for costs, attorneys' fees and expenses pursuant to Paragraph 4 shall reduce the Amount of Liability under this Guarantee pro tanto. 9. Payment of Loss. (a) No payment shall be made without producing this Guarantee for endorsement of the payment unless the Guarantee 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, the loss or damage shall be payable within thirty (30) days thereafter. 10. Subrogation Upon Payment or Settlement. Whenever the Company shall have settled and paid a claim under this Guarantee, all right of subrogation shall vest in the Company unaffected by any act of the Assured. The Company shall be subrogated to and be entitled to all rights and remedies which the Assured would have had against any person or property in respect to the claim had this Guarantee not been issued. If requested by the Company, the Assured shall transfer to the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The Assured shall permit the Company to sue, compromise or settle in the name of the Assured and to use the name of the Assured 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 Assured the Company shall be subrogated to all rights and remedies of the Assured after the Assured shall have recovered its principal, interest, and costs of collection. 11. Arbitration. Either the Company or the Assured may demand that the claim or controversy shall be submitted to arbitration pursuant to the Title Insurance Arbitration Rules of the American Land Title Association (“Rules”). Except as provided in the Rules, there shall be no joinder or consolidation with claims or controversies of other persons. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Assured arising out of or relating to this Guarantee, any service of the Company in connection with its issuance or the breach of a Guarantee provision, or to any other controversy or claim arising out of the transaction giving rise to this Guarantee. All arbitrable matters when the amount of liability is $2,000,000 or less shall be arbitrated at the option of either the Company or the Assured. All arbitrable matters when the amount of liability is in excess of $2,000,000 shall be arbitrated only when agreed to by both the Company and the Assured. Arbitration pursuant to this Guarantee and under the Rules shall be binding upon the parties. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court of competent jurisdiction. 12. Liability Limited to This Guarantee; Guarantee Entire Contract. (a) This Guarantee together with all endorsements, if any, attached hereto by the Company is the entire Guarantee and contract between the Assured and the Company. In interpreting any provision of this Guarantee, this Guarantee shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, or any action asserting such claim, shall be restricted to this Guarantee. (c) No amendment of or endorsement to this Guarantee 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. 13. Severability In the event any provision of this Guarantee, in whole or in part, is held invalid or unenforceable under applicable law, the Guarantee shall be deemed not to include that provision or such part held to be invalid, but all other provisions shall remain in full force and effect. 14. Choice of Law; Forum (a)Choice of Law: The Assured acknowledges the Company has underwritten the risks covered by this Guarantee and determined the premium charged therefor in reliance upon the law affecting interests in real property and applicable to the interpretation, rights, remedies, or enforcement of Guaranties of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims that are adverse to the Assured and to interpret and enforce the terms of this Guarantee. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Assured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. 15. 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 Guarantee and shall be addressed to the Company at Commonwealth Land Title Insurance Company, Attn: Claims Department, P.O. Box 45023, Jacksonville, FL 32232-5023. PA2022-0162 Order No.: 92017638-920-CMM-CM8 Guarantee No.: CA-SFXFC-IMP-81G28-1-22-92017638 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 4 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. CONDITION OF TITLE GUARANTEE SCHEDULE A Order No.: 92017638-920-CMM-CM8 Guarantee No.: CA-SFXFC-IMP-81G28-1-22-92017638 Amount of Liability: $5,000.00 Date of Guarantee: April 8, 2022 at 7:30 AM Fee: $750.00 1.Name of Assured: Smartlink, LLC 2.The estate or interest in the Land which is covered by this Guarantee is: A FEE 3. The Land referred to in this Guarantee is described as follows: See Exhibit A attached hereto and made a part hereof. 4. ASSURANCES: According to the Public Records as of the Date of Guarantee, a. Title to the estate or interest in the Land is vested in: City of Newport Beach, a municipal corporation b. Title to the estate or interest is subject to defects, liens or encumbrances shown in Schedule B which are not necessarily shown in the order of their priority. PA2022-0162 Order No. 92017638-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81G28-1-22-92017638 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 5 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. EXHIBIT A LEGAL DESCRIPTION ALL THAT CERTAIN REAL PROPERTY SITUATED IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 164 IN BLOCK 53 OF IRVINE'S SUBDIVISION, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP RECORDED IN BOOK 1, PAGE 88 OF MISCELLANEOUS MAPS, LYING WITH ASSESSORS PARCEL NO. 425-071-06, BEING A PORTION OF THE PROPERTY, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON A LINE PARALLEL WITH AND SOUTHEASTERLY 30.00 FEET FROM THE NORTHWESTERLY LINE OF SAID LOT 164, NORTH 39° 48' 55" EAST 706.00 FEET FROM THE INTERSECTION OF SAID PARALLEL LINE WITH THE SOUTHEASTERLY PROLONGATION OF THE CENTER LINE OF 18TH STREET AS SAID CENTER LINE IS SHOWN ON A MAP OF NEWPORT HEIGHTS, RECORDED IN BOOK 4, PAGE 83 OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY; THENCE SOUTH 50° 11' 05" EAST 50.00 TO A POINT IN THE SOUTHEASTERLY LINE OF IRVINE AVENUE, SAID POINT BEING THE WESTERLY CORNER OF THE LAND QUITCLAIMED TO THE CITY OF NEWPORT BEACH, DESCRIBED IN QUITCLAIM DEED RECORDED JANUARY 14, 2003 AS INSTRUMENT NO. 2003-45872 OF OFFICIAL RECORDS, SAID POINT ALSO BEING THE TRUE POINT OF BEGINNING; THENCE SOUTH 50° 11 '05" EAST 90.00 FEET ALONG THE SOUTHWESTERLY BOUNDARY OF SAID QUITCLAIMED DEED; THENCE NORTH 39° 48' 55" EAST 10.00 FEET ALONG SAID BOUNDARY; THENCE SOUTH 50° 11' 05" EAST 120.99 FEET ALONG SAID BOUNDARY; THENCE NORTH 39° 48' 55" EAST 130.00 FEET ALONG SAID BOUNDARY AND THE NORTHWESTERLY LINE OF THE LAND QUITCLAIMED TO NEWPORT-MESA UNIFIED SCHOOL DISTRICT, DESCRIBED IN QUITCLAIM DEED RECORDED JANUARY 14, 2003 AS INSTRUMENT NO. 2003-45873 OF OFFICIAL RECORDS; THENCE SOUTH 50° 11' 05" EAST 526.60 FEET ALONG THE NORTHEASTERLY LINE OF SAID LAND QUITCLAIMED TO NEWPORT-MESA UNIFIED SCHOOL DISTRICT TO THE NORTHERLY LINE OF MARINERS DRIVE, SAID NORTHERLY LINE BEING CONCAVE SOUTHERLY AND HAVING A RADIUS OF 740.00 FEET, A RADIAL LINE TO SAID POINT BEING NORTH 11° 40' 12" WEST; THENCE EASTERLY ALONG SAID NORTHERLY LINE 110.90 FEET THROUGH A CENTRAL ANGLE OF 8° 35' 11"; THENCE ALONG SAID NORTHERLY LINE NORTH 86° 54' 59" EAST 40.17 FEET; THENCE ALONG THE WESTERLY LINE OF DOVER DRIVE NORTH 3° 03' 18" WEST 38.29 FEET TO THE BEGINNING OF A CURVE, CONCAVE WESTERLY WITH A RADIUS OF 804.00 FEET; THENCE ALONG SAID CURVE AND SAID WESTERLY LINE 661.35 FEET THROUGH A CENTRAL ANGLE OF 47° 07' 47"; THENCE NORTH 50° 11' 05" WEST ALONG SAID WESTERLY LINE 227.00 FEET; THENCE SOUTH 39° 48' 55" WEST ALONG THE SOUTHEASTERLY LINE OF IRVINE AVENUE 533.70 FEET TO THE TRUE POINT OF BEGINNING. ALL THAT CERTAIN REAL PROPERTY SITUATED IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: THAT PORTION OF LOT 164 IN BLOCK 53 OF IRVINE'S SUBDIVISION, IN THE CITY OF NEWPORT BEACH, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS SHOWN ON A MAP RECORDED IN BOOK 1, PAGE 88 OF MISCELLANEOUS MAPS, LYING WITH ASSESSORS PARCEL NO. 425-071-06, BEING A PORTION OF THE PROPERTY, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT ON A LINE PARALLEL WITH AND SOUTHEASTERLY 30.00 FEET FROM THE NORTHWESTERLY LINE OF SAID LOT 164, NORTH 39° 48' 55" EAST 706.00 FEET FROM THE INTERSECTION OF SAID PARALLEL LINE WITH THE SOUTHEASTERLY PROLONGATION OF THE CENTER LINE OF 18TH STREET AS SAID CENTER LINE IS SHOWN ON A MAP OF NEWPORT HEIGHTS, RECORDED IN BOOK 4, PAGE 83 OF MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY; THENCE SOUTH 50° 11' 05" EAST 50.00 TO A POINT IN THE PA2022-0162 Order No. 92017638-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81G28-1-22-92017638 EXHIBIT A (Continued) 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 6 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. SOUTHEASTERLY LINE OF IRVINE AVENUE, SAID POINT BEING THE WESTERLY CORNER OF THE LAND QUITCLAIMED TO THE CITY OF NEWPORT BEACH, DESCRIBED IN QUITCLAIM DEED RECORDED JANUARY 14, 2003 AS INSTRUMENT NO. 2003-45872 OF OFFICIAL RECORDS, SAID POINT ALSO BEING THE TRUE POINT OF BEGINNING; THENCE SOUTH 50° 11 '05" EAST 90.00 FEET ALONG THE SOUTHWESTERLY BOUNDARY OF SAID QUITCLAIMED DEED; THENCE NORTH 39° 48' 55" EAST 10.00 FEET ALONG SAID BOUNDARY; THENCE SOUTH 50° 11' 05" EAST 120.99 FEET ALONG SAID BOUNDARY; THENCE NORTH 39° 48' 55" EAST 130.00 FEET ALONG SAID BOUNDARY AND THE NORTHWESTERLY LINE OF THE LAND QUITCLAIMED TO NEWPORT-MESA UNIFIED SCHOOL DISTRICT, DESCRIBED IN QUITCLAIM DEED RECORDED JANUARY 14, 2003 AS INSTRUMENT NO. 2003-45873 OF OFFICIAL RECORDS; THENCE SOUTH 50° 11' 05" EAST 526.60 FEET ALONG THE NORTHEASTERLY LINE OF SAID LAND QUITCLAIMED TO NEWPORT-MESA UNIFIED SCHOOL DISTRICT TO THE NORTHERLY LINE OF MARINERS DRIVE, SAID NORTHERLY LINE BEING CONCAVE SOUTHERLY AND HAVING A RADIUS OF 740.00 FEET, A RADIAL LINE TO SAID POINT BEING NORTH 11° 40' 12" WEST; THENCE EASTERLY ALONG SAID NORTHERLY LINE 110.90 FEET THROUGH A CENTRAL ANGLE OF 8° 35' 11"; THENCE ALONG SAID NORTHERLY LINE NORTH 86° 54' 59" EAST 40.17 FEET; THENCE ALONG THE WESTERLY LINE OF DOVER DRIVE NORTH 3° 03' 18" WEST 38.29 FEET TO THE BEGINNING OF A CURVE, CONCAVE WESTERLY WITH A RADIUS OF 804.00 FEET; THENCE ALONG SAID CURVE AND SAID WESTERLY LINE 661.35 FEET THROUGH A CENTRAL ANGLE OF 47° 07' 47"; THENCE NORTH 50° 11' 05" WEST ALONG SAID WESTERLY LINE 227.00 FEET; THENCE SOUTH 39° 48' 55" WEST ALONG THE SOUTHEASTERLY LINE OF IRVINE AVENUE 533.70 FEET TO THE TRUE POINT OF BEGINNING. NOTE: THIS COMPANY HAS PROVIDED SAID DESCRIPTION AS AN ACCOMMODATION FOR THE PURPOSE OF FACILITATING THIS REPORT. SAID DESCRIPTION MAY NOT AN INSURABLE PARCEL PURSUANT TO THE SUBDIVISION MAP ACT OF THE STATE OF CALIFORNIA AND SHOULD NOT BE RELIED UPON TO CONVEY OR ENCUMBER SAID LAND, UNTIL APPROVED BY THE APPROPRIATE GOVERNING AGENCY. APN: 425-071-06 PA2022-0162 Order No. 92017638-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81G28-1-22-92017638 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 7 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. SCHEDULE B A. Property taxes, which are a lien not yet due and payable, including any assessments collected with taxes to be levied for the fiscal year 2022-2023. B. Note: Property taxes, including any personal property taxes and any assessments collected with taxes, are paid. For proration purposes the amounts were: Tax Identification No.: 425-071-06 Fiscal Year:2021-2022 1st Installment: $2,254.02 2nd Installment: $2,254.02 Exemption:None Code Area:07-045 C. Any liens or other assessments, bonds, or special district liens including without limitation, Community Facility Districts, that arise by reason of any local, City, Municipal or County Project or Special District. D. The lien of supplemental or escaped assessments of property taxes, if any, made pursuant to the provisions of Chapter 3.5 (commencing with Section 75) or Part 2, Chapter 3, Articles 3 and 4, respectively, of the Revenue and Taxation Code of the State of California as a result of the transfer of title to the vestee named in Schedule A or as a result of changes in ownership or new construction occurring prior to Date of Policy. 1. Water rights, claims or title to water, whether or not disclosed by the public records. 2. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:County Sanitation District No. Six (6), a public corporation Purpose:Sewer trunk main Recording Date:July 18, 1952 Recording No: Book 2358, Page 401 of Official Records Affects:A portion of said land 3.Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to:City of Newport Beach Purpose:Pipe lines Recording Date:May 24, 1956 Recording No: Book 3523, Page 378 of Official Records Affects:A portion of said land 4.A perpetual air or flight easement, sometimes referred to as avigation rights, in and to all the air space above those portions of particular planes or imaginary surfaces that overlie said Land for use by aircraft, present or future, from or to the Orange County Airport, said easements and rights being more particularly described and defined in and granted to the County of Orange by deed set forth below: Recording Date: March 17, 1964 Recording No.: Book 6965, Page 721 of Official Records The planes above which said easement lies are more particularly described in said Deed and shown on a map referred to therein. PA2022-0162 Order No. 92017638-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81G28-1-22-92017638 SCHEDULE B (Continued) 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 8 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. 5. Easement(s) for the purpose(s) shown below and rights incidental thereto as reserved in a document; Reserved by: The Irvine Company, a corporation Purpose:Road and public utilities Recording Date: July 19, 1957 Recording No: 94740, Book 3978, Page 537 of Official Records Affects:A portion of said land 6.Matters contained in that certain document Entitled:City of Newport Beach Deed Restriction on Real Property upon Which is Located the City of Newport Beach Mariners Branch Library Dated:February 26, 2008 Executed by:City of Newport Beach, a municipal corporation Recording Date:March 4, 2008 Recording No: 2008-99106 of Official Records Reference is hereby made to said document for full particulars. 7. A lien for unsecured property taxes filed by the tax collector of the county shown, for the amount set forth, and any other amounts due. County:Orange Fiscal Year:2019-2020 Taxpayer:City of Newport Beach Amount:$143.25 Recording Date:November 19, 2019 Recording No:2019-481116 of Official Records 8.Please be advised that our search did not disclose any open Deeds of Trust of record. If you should have knowledge of any outstanding obligation, please contact the Title Department immediately for further review prior to closing. 9. Any rights of the parties in possession of a portion of, or all of, said Land, which rights are not disclosed by the public records. The Company will require, for review, a full and complete copy of any unrecorded agreement, contract, license and/or lease, together with all supplements, assignments and amendments thereto, before issuing any policy of title insurance without excepting this item from coverage. The Company reserves the right to except additional items and/or make additional requirements after reviewing said documents. PA2022-0162 Order No. 92017638-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81G28-1-22-92017638 SCHEDULE B (Continued) 81G28 CLTA Guarantee Form No. 28 (06-05-14)Page 9 Condition of Title Guarantee © California Land Title Association. All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use. All other uses are prohibited. Reprinted under license or express permission from the California Land Title Association. 10. Information in the possession of the Company indicates that a division of land has occurred or is contemplated in the current transaction involving the Land described in this report. Such contemplated division of land appears to fall within the guidelines necessitating approval by the City, County or other applicable government agency. As a prerequisite to the issuance of any title insurance under this application, at least one of the following requirements must be accomplished to the Company’s satisfaction: A Final Map has been recorded in compliance with City of Newport Beach related ordinances/requirements. Evidence of compliance or waiver from the City of Newport Beach. Other evidence, satisfactory to the Company, indicating compliance or non-violation must be furnished. The Company reserves the right to add additional items or make further requirements after review of the requested documentation. PA2022-0162 PA2022-0162