HomeMy WebLinkAboutContract 3CITY CF 11EWPG T BEA-'I
CITY ATTOM-M
DE AI THENT
To: City Cler';
August 30, 1962
From: City Attorney
Subject: Acquisinioin of real property ai Grant Uovald Par',,-
Transmitted herewith is the original of the grant deed from
The Irvine Company to the City conveying Grant Hovmld Par'_:.
This is doc °anent No. 14303, recorded August 21, 1962, in
3oo.k 6219, page 537, of Official Records of orange County.
Also transmitted are the original and one copy of the policy
of title- insurance issued by First American Title Insurance
Trust Company through orange County Title Company under 17
"61; ; 54 .
This completes the ac lUisi -ion of t'ie property.
r
U�
halter "'. Cizaranza
i- +'•,:'C :mec City Attorney
6nC_ .
i
ct - City Manager 2
Director of Finance ` REEEIVE3
N AUG ao ly62
CITY cLFlg(
CITY OF
NEWP ORT
�CN�
August 30, 1962
The Honorable Dowd of Supervisms
orange County Courthouse
Sixth and North Broadway
Santa Ana, California
Gentlemen3
The City of New Beach, by corporation grant deed from The
Irvim Company Cfed August 2. 1962 recorded as Document No.
15303 in Book 621910 ps a 587 Offic ;al Records of Or e
County hes acquired tgge foli - described p �tay2 the
City ek'Newport Beach,hCounty of saga, State of Calif rniat
A portLon of Block 93 of Irvine's Subdivision, as
shown on a Map recorded in Book 1, page 88 of Kecel-
laneous Mips records of Orange Comty, CaliforuMl
mare particularly described as follows
at the intersection of the center line of
80 Avow= (formerly 33rd Avenue) with the
Northeasterly boundary line of Corona del Mar Tract,
as 33rd Avenue and the said Northeasterly boundary
line are shown on a Map of Corona del Mar recorded
in Book 3 pages 41 and 42 of Miscellaneous 1 ,
records of Orange County California; thence DOSth
32' 27' 08" Bast 191.55 feet* thence South 50° 14'
20" Rest 967.50 feet to a point distant North 52° 34'
20" East 194.85 feet from the intersection of the
center line of Jasmine Avenue (formerly 36th Avenue)
with the Northeasterly boundary line of said Corona
del Mar as said 36th Avenue and Northeasterly line
are shown on said "; thence South 52' 341 20"
Wiest 194.85 fat; thenco along the said Northeasterly
boundary of Corona del Mar to the point of beginning.
Subject too
a) 1 General and Special Taxes for the fiscal year
b) Rights of way, easements, reservations and other
matters of record.
RESERVING unto the Grantor its successors and assigns,
for road drainage and utility purposes the following
dsscrFQ parcels:
The Honorable Board of Sqpesvisors -2- August 30, 1962
Parcel 1s A strip of land 30 feet in width along the
entire Northwesterly and Southeasterly boundaries of
the above described parcel.
Parcel 21 A strip of land 35 feet in width alooes� the
entire Southwesterly bowWary of the above described
parcel.
The intersection of the inside lines of the above described
strips of land on the Northwesterly and Southwesterly side
limes with the strip of land as the Southwesterly side line
to be rounded off with curves tangent to said insi6o lines
and having a radius of 20 feet.
V=PT1VQ and RRSERVZMO unto the Grantor, its successors
and assigns all oil, gas and other hydrocarbon, substances
to and under the soperty couveyed, together With the
right toe�p lore , devel extract and remove the
$awe therefrom by slant dril1W or other like methods,
with derricks or drill rip located outside of the
boundaries of said property.
On behalf of the Citys the undersigned hereby s-equssts that,
comesnci� with the fiscal year 1ti3 -1964, no farther assessment
of tax" 5e made on said property. Provision has already be®n
made in the real estate transaction for payment of the 1%2-
1963 taxes.
Thank you for your consideration in this matter.
very truly you" a
Walter W. Cheram$a
City Attorns of the City of
WWC:mac
Newport Beach
cc - City MenaS�er
City Clark �
Don S. Mosley
Orange County Tax Collector
P. 0. Draver 1438
Santa Ana, California
V c 0
•
POLICY OF TITLE INSURANCE
ISSUED THROUGH THE OFFICE OF
Orange County Title Company
FIRST AMERICAN TITLE INSURANCE & TRUST COMPANY, a California corporation, herein called the
Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of
which are shown in Schedule A, hereby insures the parties named as Insured in Schedule A, the heirs,
devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger
or consolidation, against loss or damage not exceeding the amount stated in Schedule A, together with costs,
attorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions
and Stipulations hereof, which the Insured shall sustain by reason of:
1. Any defect in or lien or encumbrance on the title to the estate or interest
covered hereby in the land described or referred to in Schedule C, existing
at the date hereof, not shown or referred to in Schedule B or excluded from
coverage in Schedule B or in the Conditions and Stipulations; or
2. Unmarketability of such title; or
3. Any defect in the execution of any mortgage shown in Schedule B securing
an indebtedness, the owner of which is named as Insured in Schedule A, but
only insofar as such defect affects the lien or charge of said mortgage upon
the estate or interest referred to in this policy; or
4. Priority over said mortgage, at the date hereof, of any lien or encumbrance
not shown or referred to in Schedule B, or excluded from coverage in the
Conditions and Stipulations, said mortgage being shown in Schedule B in the
order of its priority;
all subject, however, to the Conditions and Stipulations hereto annexed, which
Conditions and Stipulations; together with Schedules A, B, and C are hereby made
a part of this policy.
In Witness Whereof, First American Title Insurance & 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.
FirstAntaicmt Title Insurance �-'- Trust Company
By PRLSIDI HI
ATTCST b � SECRETARY
i
COUNTERSIGNED
AUiH 7 SIGNATURE.
Fo,m No. 10841 • • ,
CLTA Standard Coverage Policy Form
Copyright 1961
SCHEDULE A
Total Fee for Title Search. Examination
and Title Insurance $ ------ 88.00_ --------------
_
Amount $ 10,175.00 Policy No. 864765
Effective Date August 21, 1962 at 9'00 A. M.
Insured
CITY OF NEWPORT BEACH, a Municipal Corporation.
I. Title to the estate or interest covered by this policy at the date hereof is vested in:
CITY OF NEWPORT BEACH, a Municipal Corporation.
2. The estate or interest in the land described or referred to in schedule c covered by this policy is:
A Fee.
Page 2
Form No 1004 -3' • •
CLTA Standard Coverage Policy Form
Copyright 1961
SCHEDULE B 864765
This policy does not insure against loss or damage by reason of the matters shown in parts one and two following:
Part One:
I. 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.
2. Any facts, rights, interests, or claims which are not shown by the public records but which could be
ascertained by an inspection of said land or by making inquiry of persons in possession thereof.
3. Easements, claims of easement or encumbrances 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. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance
thereof; water rights, claims or title to water.
Part Two:
1. Taxes for the fiscal year 1962 -1963, not yet payable.
2. An Easement over a portion of said land for pole lines and incidental purposes,
as conveyed to Southern California Edison Company by deed recorded February 14,
1918 in Book 318, page 90 of Deeds and as modified by instrument recorded May
18, 1949 in Book 1845, page 120 of Official Records.
3. The Right of Way for pipe lines over a portion of said land as conveyed to
the City of Newport Beach, a municipal corporation, by deed recorded November
29, 1924 in Book 548, page 354 of Deeds.
4. An Easement for street and highway purposes over the Southwesterly 25 feet
of said land as conveyed to the City of Newport Beach, a municipal corporation,
by deed recorded December 5, 1961 in Book 5934, page 125 of Official Records.
5. Easements for road drainage and utility purposes the following described
parcels:
Parcel 1: A strip of. land 30 feet in width along the entire Northwesterly and
Southeasterly boundaries of said land.
Parcel 2: A strip of land 35 feet in width along the entire Southwesterly
boundary of said land.
The intersection of the inside lines of the above described strips of land on
the Northwesterly and Southwesterly side lines with the strip of land on the
Southwesterly side line to be rounded off with curves tangent to said inside
lines and having a radius of 20 feet as reserved by The Irvine Company, a corporation
organized under the laws of the State of West Virginia in the deed recorded
August 21, 1962.
(continued)
Page 3
• •
864765
6. The Covenants, conditions and restrictions as contained in the deed from
The Irvine Company, a corporation organized under the laws of the State of
West Virginia, recorded August 21, 1962.
Said deed provides that said real property, (except the easements described in
Item 5 above) shall be used for public park and playground purposes and for no other
use or purpose; and should grantee or its successors and assigns cease to use said
property, or any part thereof, for the purposes hereinabove specified, or should
attempt to use said property, or any part thereof, for any other purpose, then and
thereupon this conveyance shall be rendered null and void and said real property and
the whole thereof shall revert to grantor, its successors and assigns, each of whom
shall have the right to re-enter and take possession of said real property and the
whole thereof and remove all persons therefrom; provided, however, that grantee, its
successors and assigns, may dedicate streets across said property, and provided
further that other uses may be made of said property with the written consent of the
grantor or its successors or assigns.
Page 4
Form No. 1084 -4 • •
CLTA Standard Coverage Policy Form
Copyrighf 1961
SCHEDULE C 864765
The land referred to in this policy is situated in the County of Orange, City of Newport Beach,
State of California, and described as follows:
A portion of Block 93 of Irvine's Subdivision, as shown on a Map recorded in Book
1, page 88 of Miscellaneous Maps, records of Orange County, California, more
particularly described as follows:
Beginning at the intersection of the center line of Goldenrod Avenue (formerly
Thirty -third Avenue) with the Northeasterly boundary, line of Corona del Mar Tract,
as Thirty -third Avenue and the said Northeasterly boundary, line are shown on a
Map of Corona del Mar recorded in Book 3, pages 41 and 42 of Miscellaneous Maps,
records of Orange County, California; thence North 32` 27' 08" East 191.55 feet;
thence South 50° 14' 20" East 967.50 feet to a point distant North 52' 34' 20"
East 194.85 feet from the intersection of the center line of Jasmine Avenue (formerly
Thirty -sixth Avenue) with the Northeasterly boundary, line of said Corona del Mar
as said Thirty -sixth Avenue and Northeasterly line are shown on said Map; thence
South 520 34' 20" West 194.85 feet; thence along the said Northeasterly boundary, of
Corona del Mar to the point of beginning.
Excepting therefrom all oil, gas and other hydrocarbon substances in and under the
property conveyed, together with the right to explore for, develop, extract and
remove the same therefrom by slant drilling or other like methods, with derricks
or drill rigs located outside of the boundaries of said property as reserved in the
deed from The Irvine Company, a corporation organized under the laws of the State
of West Virginia.
AAR:jr Page 5
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This Map Is a Copy of the Map Prepared by the County Awuey of th County of Orange and
Is Not to be Construed as a Part of This T
c.aerma Lane rent Arsoe;anon
•
•
Standard Coverage Polity Form
foavrigM 1961
form to8a
CONDITIONS AND STIPULATIONS
(Includes those in the American Title Association- O.wner's. Policy -Standard Fortis B- 19611)
1. DEFINITION OF TERMS
The following toes when used in this policy mean:
(a) Ind the land described, specifically or byy refer -
nu , in Schedule C and mp o ements affixed thereto which by
law constitute real propem;
(b) "public records": those records which impart non-
strietivu notice of matters relating to said land;
(e) -knowledge": actual knowledge; not constructive
knowledge or mfiee which may be imputed to the Insured by
reason t any public records;
(d) "date'? Inc- cifeetwu date;
(e) i-rtgng mortgages deed of bast, trust deed, or
others t n tru e L and
(5). "insured"; pity or parties herein designated as
Insured, and if the . owner f the indebtedness sccciad by a.
mortgage shown ; Schedule B is named as:. art Insured in
.SChed,di,. A, the Insured shill include (1) each successor in
interest in ownershillof such indebtedness. (2) any s Fauh o
who acquires the T t or interest referred tom this policy by
foreclosure, trustees sale or other legal manner sn sahsfachmi
of said indebtedness, and (3) stay federal 'agency or instrumen-
tality which is a Insurer or granulator under an insurance, our-
tract or guaranty insuring or gran. it ng. said i idebtedness,
m. any pit thereof, whether named as an Insure{l herein or not.
2. BENEFITS AFTER ACQUISITION OF TITLE
If an insured owner of the indebtedness seenned by rt-
g g,dcc bed Schedule H acquires d estate o nt e,t,
or Tq pat thereof, by f ed trustee's sale or other legal
inarmer fir satisfaction of said Indebtedness, or acry part thereof,
or if federal agency or rest i tatty acquires said estate
interest. or ny pan thereof, s' a ermequente of art nourantic
contract o guaranty nsu n6 or guaranteeing the indebtedness
seemed b mortgage entered bj this policy, or Any Part
tl neon, tp policy shelf continue in force in .favor of such
Insured, agency or histmincentislity, subject to all of Bond --
Iions.:md stipulations Iieneef.
3, EXCLUSIONS FROM THE COVERAGE OF THIS
POLICY
Thus polics chains polio not insum against loss or damage by reason
of the following;
(a) Any law, cofillame or governmental regulation (in.
chiding but not I cl d to building o d zoning ordm c s).
etneticg or g lating or p t bits g the occupancy, u or
enjnnae t f the lad; r r g l d g the character, dimensions,
or location of any unproscrient now or hereafter fe eeted on
said Intel, prohibiting a separation as ownership or a reduc-
tion in the direCaShalo o area of any lot or parcel of land.
(Ink Cs tdl bbht of police p e -ut do-
e in fl,- 1 T suds al retle. to .... con ych rights
appears in the p dila records Fit the date forced.
(:c) title to y property beyond the lines of the hand
pressby do I d Schedule C, r title to street -ads,
a amts lanes, ys. or tcmays o which h land ib t or
the right to maintain the aunts, tut nets, ramps or am. other
shnctuc d{ u. i t iY tgllh easements therein
red nn This Policy specific Ily provides that such property, rights
or easements are insured, c.sc pt tl ne if the land al as coca
one or more physically Open streets highwass . this policy
cy
inures the o c y Tight of I tt g.o e s for aces to one
of such tre t o r, highways, unless otherwise executed or
l.elected herein.
( -d) D fette 1' e, rectindiramers, adverse claims against
the title as insured or adan matters (I treated, suffc ed s
coed o agreed to by the Insured; r (2) lam t the Io.
s ced, either t the date of this policy Or t the such
trained acquired art estate or t s[ insured Fee this p l y slid
not shown by the public ec d unless dorlesme . thereof in
writing by tire Ireland shall base la cre made to the Company
Prior to the date of this puly , or (3) resulting in no loss to
tie Ins ed or attaching r c atel b' gaeca to the
date Intend.
(e,) Los, Or drainage w huh would tin bee sustained
if the Insured ,. e a pmcl ss m a hbman... for value
without k uwludg
4. DEFENSE AND PROSECUTION OF ACTIONS
NOTICE OF CLAIM TO BE GIVEN BY THE INSURED
(:a) Tire C a p any, I it stn a0l and without undue
delay shall Provide ( I ) for the defense of the Insured in all
litigtion cons commenced
actions or Proceedings c mmeinced
again It . fit'. heated, la o dfor neo- restraining orders, indebtedness j
tonsrnI 1 it a ntla , foreclosure sale of the eofil.
secured by o n said emend J y this P I Y o :sale d the
estate er interest nabaid la d r (P) for such
te action rs any be
xppmpn let age shi d title hi the tigaic or mtemrt m the
ofsuch f the event, is e as insured, which alleged de or action. in nn'
of aueh c oinsuas bungled upon an alleged defeat, 'lien or cis-
c hca t c l against l y tI s P Lc> a d s ay am a.
any
Ltigaha t fiaosan i to the ot of last
(b) In Laos n h u protesting dull nc b g p
r defense : d ni si te e 1 Igo shall Once tre. the
ins red f t I 'n 'of title interest 1 eh is adverse e to the
a, of the rata o rte , o 1 C II r s u eh ge as insured,
or which gF, • to damage far , n, the Company
shall F, av Le little Ip virtue sell IN, pub ela cif the mrrtay
n
sL dm b good tli contract t II the 'ref Madness snav� by
a c h leases tr by Ili 1 ulna, m, if A. Insured n goer
faith lea cis o t rot it ell Ic ester sale. the ire Or
a in, ued u t( 1 rider t f Qtsue l u de : m rag g
everted by e t paisley, ate or to purchase. and m any such
event (he title m said n'tate or interest is mjec[ed as unmacket-
able, the Insured shall Tandy the Company thicraf in writing.
flying cauticestrall nut be given to tho Co m p i s within ton days
of the receipt of process or pleadings or if the Insured .hall not,
in writing, promptly i oCC the Company of any defect, lien
or encumbrance insured against which shall come to the
knowledge of the Insured, or ( the Insured shall not, nr writing,
promptly notify the Co parry of coy such ojectiun by reason of
claimed unmarkeeability of title, then all Lability of the Com-
o notify stall in no
unless the Comonnv
such fa 1 nc and then only to 11c extent of such pueiiahre.
(c) the Company shall have the right at its own cost to
Institute and prosecute any athmn or Proceeding or do any other
act which IF] its opinion u aY be e iry or desirable to estah.
fish the htheof the crate irr interest Far the Gen of the mortgage
is' husnutd, , and the Cluallany rely Pike my appropriate pit Lion
n ode II t s s of this Policy whether of t shall I India,
thereunder and. iliall not thereby :cumeede liability of waive any
provision of this poltcy.
(d) In all case wherru this policy pannas or requires the
Cnnipany or pmeeehte or provide for the defense of any action
T proceedmg the Insured ,hall sear, to it the right to sir
ptoscm tc or ptdvid, defense in such action or proceeding+ and
all appeals therein, d permit it to live, at its option. the name
Of the I l for 'l i pose Wherever requested by the
Comp y the Insured slut I g the Cconparly 211 assistance
any such action or limenediak, In eff Gtr g lottlergent, securing
unidc c Obtaining ins, itr esses, or prosecuting or defending such
arts on or protruding, and the Company shall gimlma'e the
Insured for any esper.- so incurred.
S. NOTICE OF LOSS LIMITATION OF ACTION
In addition to the t c s required under paragraph 4(h) ' a
statement writing Of y loss or I erg which Inch it is
Inin pd the Company is liable r,d this pope, eh it he ( o-
islied to the Curlpary within sixty days After such loss or
damage shall have re en
he ' rind no fight of not u
shalf
accrue to the Insured under this pop, ml thirty class after h smtr nt shall h been (aie d red rot y 'Dt lI
be had tl Insured do this pol y unless ref hall be
o e re d er aeon within 3e Etc U of d
thirty day period. Failure [o ( `h such totenn," t (los Or
d gc u to co n ud ry thin fit, time bureau-
before erl sall bear unrlive bar against maintenance
by tli Insured of any action under
Wes policy:
6. OPTION TO PAY., SETTLE OR COMPROMISE
CLAIMS'
The Company hall have the ptio to pay it settle or u
prom for or iu the came of tire Insured y der n insured
against u t lay tli (II must f. this Pubes, - n : c se lass
is la claimed under tills pulse' by the owner of theciudchtedness
secured ley d w e ortq g covered by thus Policy; tine Company shall have the option to jourchase said d btrib r,,, such Pin, -
dloc,e, jusynFunt irr truth" Of Lasater of the fill tit of ties
policy together tl II costs, attorneys' fees and ap rs
Bich the Co npany is obligated hereunder to pay, $h all to ma-
ate all liability of If c Co i party hereunder. In the event, aft
.notic of claim has been given to the Company_ by file Instruct
and the iortgage s"Firing We aume to tike Compauy upon pay
meat of the peolux- price.
7 PAYMENT OF LOSS
(a) Tire liability of the Contents under this poky Ball
in i in cexceed, in . 11 the actual less of tire Insured and cost,
and attomcys ins which the Comps ry may be obligated here-
under to pay.
( b) the Company "ill pay, 'n addition to , . leis milled
gain by this policy 11 ... t .. mitered pp tire I s ed
1 tigat n carried on by the Company for the Insnrod, and all
Cost, and attorneys' 1 litigation earned ire by tip' Imu red
with the written nallorii,tien of tire- Company.
(o)
NO alams for daulagcs shall a `c lie ma t hie
under this policy ( I) if fire Cornli , ft r having unj,,d
or cal den herein removes salell defect, 1 -cis or emend,nago
_ within reasonable : time fte colt of such rotates or ( 2 ) for
labil y voluntactiv assumed by the Insured in selliWb any
clout or solit "id mat written connnt of the Courpany, or (3)
in the c a tile . hilt is rejected a nimadetalih Increase of a
defect her or elaurubr,luo not l dutered , csclvda in this
puree, until Iliac has been a Bmel d termination by v emaa of
i'mnpetent
, l g t` int sustainng imp election.
(d) All Pay ents under this ,> except
ti n do
for alienates in and e xpense shall euce tire it
Of fill. a mo relju (auto and no payment hall 11c made,
out p o c oli tin policy fo r vcdo ere t of h fly naant
unless the
policy ey b lost or `deist eye 1 1 ch case t root of
mach loss destruction tell] be him 1 ed to the ' t1, i action of
the CO irr n>, provided, loosest, if the owner of a i e l I tc4l
ess rc,aval by a nm Ig age been tra Sehedi h, B is Insured
herein then such pasaa,nt, still riot rilleco pro t to the ,men nt
of the me attended hereunder Fus to such insured swept
to the extent that s di payments r duce, the remnant'
ir l ( the
indebtedness ti led y ch mrtguby t. y nt t in fall y any
person , Fqalltrry latelf,lutur oecase
by the Insured of a
lum1g.go err. a ed by this print h ll terminate all 1 at 1 ty of
the Company to the insured Owner of tire deheedhe .. need
by .rich meregagc, cleri t as provided in paragraph 2 hereof.
(r) thh-m liability has been definitely fixed in ccordance
with the conditions of this policy the loss or damage shall be
payable .within thirty days thereafter.
8, LIABILITY NONCUMULATIVE
It is expressly understood that the amount of than polity is
reduced by any amount the Company may pay under any
Policy notiong the validity or priority of any mortgage shown
or referred to in Schedule B hereof or any nexpl i6 . h eaftcc
tuned by the Insured which is a charge or lien on the estate
or interest described err eferced to in Schedule A. The pro-
visions of this Pa g pph. numbered B shall not apply to an
Insured owner of a debeedne ;s seerand by a mortgage shown
in Shed lead ludes, such Inured acQq es title to said estate
or interest msahefm n
tmof said indebtednessor hnyprt thereof.
9, COINSURANCE AND APPORTIONMENT
(a) In the nt that a partial loss occurs after air ahmn
t on o n t o ire subsequent t d date C this policy, and
Only that event, the Insured becomes a coinsurer to the ex-
tent he mmafter set forth.
If the mist of the alteration or improvement exceeds twenty
per nt of the amoi ut of this policy. such proportion only
Of any partial loss ntabhshed shall lie borne by the Company
is one hundred twenty. Per ventral of the amount of this Policy
be,,, to the Sala of the amount of this polity and the amount
expanded f the alteratirul or iniproseneent The f a gongg
Ii i o ball t Illy to costs d tto c,, f s 5e cd
by the Cumilemy in proscanteng or providing for tl c defense of
v t Or p day 1 df of the Insured pursuant to rise
to s of this 1 1'e Or to cost, iii P ed no fl', Insisted in such
induct, 0, arme,dFrig and sInch Out apple t lusse, which do .
not i cud, in file aggregate, ail allaullat equal to out per
,nit ,nitual of d5 far, account of this pope,
provided. however, tlitfi- lo gong, coinsurance provisions
sl ll n I Ll, to y to, f. at tire I of :tli o c ice of
such to t a, then value of the premises, . o unposed, does
riot peed the i t of this policy, and provided further that
file foregoing coinsurance provisions shall not apply to' an in-
sired Loner of v n indebtedness secured by a mortgage shown
n Sul cdde B Prior In aegaoltron of title to said estate or
interest irr satisfaction Y said indebtedness Or any part thereof
(I) If fill land de,enflied or referred . to S,Iled.le C is
divisildo into separate and rioncoutinolis parcels, or if . con.
fiVicals and 'cl Inicals are not used as o ngl e site, and a
loss is estalil ded alicetng one or more of said Parcels hit not
dl the loss shall lit computed and settled on it pro Fatal Inns
asif the face amount of the onlicy was divided pro rata as to the
value on the data of tires policy of each separate nedelicrident
p eel to the whole L,Llrniv, - of any improvement, mach ed,
sequitur to the data of this policy y. uel h of I't o d 1 a :
cal aelnet agcl Po ate 'n'll soon n ilytire
C p my ,led tire In Fall at tire time of the s ut c of this
Policy 'i d slarost b. in express statement fount or Ip in
endorsement attached Lento.
10. SUBROGATION UPON PAYMENT OR
SETTLEMENT
Whenever e the Company shall have. waluct a claim under tl
Policy, all right of uLmuto tall vest ( the Countle, . n
fiectcd by any act of tl - Insured and it sliall be I gated to
7 I entitled t all ralltv and remedies which the Insured
old hav, herd against any person or Property - in respect to
such eluim had thustiolicy not been issued. If the payment does
riot the loss f da, Insured, the Company shall be sellux,
rated to , llali t and rentrinS In tli prI 1 el stad
1 a ut bear, to the amount d loss f loss should aspi
:c
brain a y t of ti poured. such it al net this om y
her file Couniany. i i that event, be required to pay mN
rival pact of ' insured against hereunder which sha ll
o ped the o o ti t y lost t ti pry by f ties
ru [ M tie ( llue ga Th e I l on-
quested s lens d shall transfer t Ili C o 1 ivy all
eµ h aridmedis v against any person or property necessary
t Order f Perfect such SI of subornation. ad % hall pc t
In Co mpuny to a u this n ine of the Insurer[
Ina 9 transaction
r f fie I litigation fired is involving sock rights Or remedies.
n rt tli Insured s the this of the dented le by
mortgage heere r h policy, inch In.' c 1 ,say n e or
: a l t ers t . the rwi odify liry of y f payer gout Or
pRC 1 u otherwise e no m t the to he 1. ymeu to u akael. ,
patio of the estate Copts from the I lioftls ptvi gd
tre any pull tend t i nla fur the f priority Of the Per
uarch tat does not insult in any Igss of priority of the. lien
of the mortgage.
11. POLICY ENTIRE CONTRACT
Auv action or actions or gktof. action that the I ed may
Inoe Or lilts bring against the CQmPaTlV arising ,ol t of the status
f tire c u of the u ortga g, covered by tl policy or the lithe of
t I li, estate ror interest invited larein must he ba.ed. on the pro-
vision, of they Icy.
No Provision O o d't of'this policy can be waived or
changed c rcpt try sitting endorsed hereon or attached hereto
signed by the Presad,rg. Vic, President , till. Secretary ni
Assistant Secretary or other validating officer of the CO., pnny
12 NOTICES WHERE SENT
All notares required to lie given the, Company d any : t tie-
ant in writing required to ba famished the Con parry s -hall be
addressed to it at the office which issued this policy.
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