HomeMy WebLinkAbout7881 - Sale of Bushard & Hamilton Property%A
RESOLUTION NO. 7881
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH REJECTING ALL BID PROPOSALS
FOR THE BUSHARD AND HAMILTON PROPERTY, HUNTING -
TON BEACH, AUTHORIZING REBIDDING, AND SETTING
OUT THE PROCEDURE FOR ITS SALE
• WHEREAS, on October 10, 1972, the City Council of
the City of Newport Beach adopted Resolution No. 7832, de-
claring certain real property to be surplus, authorizing its
sale and setting out the procedure for its sale; and
WHEREAS, the sealed bids were opened and publicly
announced in the office of the City Clerk at 10:00 A.M.
Friday, November 17, 1972; and
WHEREAS, only one bid, in the amount of $130,000.00,
was submitted for the purchase of the property; and
WHEREAS, pursuant to Sections 11 and 18 of Resolution
No. 7832, the City Council has determined that it would be in
the best 'interest of the City to reject the one bid and offer
to resell the property under the following terms, procedures,
and conditions;
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the-City of Newport Beach hereby FINDS, DETERMINES, RESOLVES
AND ORDERS THAT:
SECTION 1. Size - Location. The subject property
comprises 4.7 gross acres (more or less) of land located on the
east side of Bushard Street, 170 feet (more or less) south of
Hamilton Avenue in the City of Huntington Beach, California. The
dimensions of the property to the Bushard Street centerline are
495 feet east -west by 440 feet north - south. Said property is
shown on the map dated December 16, 1971, designated Drawing
No. M- 5146 -L, attached hereto, marked Exhibit "A" and made a part
hereof by this reference.
SECTION 2. Surplus Property - Legal Description. The
property as hereinafter described is surplus, and there is no
-1-
•
present or prospective need for same:
That portion of the north half of the northwest
quarter of the southeast quarter of Section 18, Township
6 South, Range 10 West, in the Rancho Las Bolsas, City
of Huntington Beach, County of Orange, State of California,
as per may recorded in Book 51, page 14 of Miscellaneous
Maps, in the Office of the County Recorder of said County,
described as follows:
BEGINNING at the intersection of the west line of
said northwest quarter with the westerly prolongation
of the north line of the land conveyed by H. D. Meyer
to the City of Newport Beach by deed recorded August 7,
1923 in book 481, page 276 of Deeds of said Orange County;
thence east 495.00 feet along said prolongation and said
north line to the northeast corner of said land; thence
south 440.00 feet along the east line of said land to the
south line of said north half of the northwest quarter of
the southeast quarter; thence west 495.00 feet along said
south line to the west line of said northwest quarter;
thence north 440.00 feet along said west line to the
point of beginning,
Except from that portion thereof lying northerly of
the southerly 165.00 feet, that portion included within
the County road adjacent on the west, as said road existed
on March 13, 1922.
Said land is shown on a map filed in Book 7, page 37
of Records of Surveys, in the Office of the County Recorder
of said County.
SECTION 3. Statement of Title. Title Insurance and
Trust Company of Santa Ana, California reports that it is pre-
pared to issue, or cause to be issued, in the form of the
California Land Title Association Standard Coverage form of
Policy of Title Insurance, a policy of title insurance describing
the land and the estate or interest therein hereinafter set forth,
insuring against loss which may be sustained by reason of any
defect, lien or encumbrance not shown or referred to as an Excep-
tion therein not excluded from coverage pursuant to the printed
Schedules, Conditions and Stipulations of said policy form.
There are no known conditions that would measurably restrict
or limit the utility of subject land. A copy of said policy
form, marked Exhibit "B ", is attached hereto.
SECTION 4. Topography. The property is generally
flat and at an elevation of 6.72+ feet.
-2-
El
E
SECTION 5. Soils. Soils data on the property was
prepared by the firm of Evans, Goffman & McCormick of Santa Ana
as an aid to prospective bidders in establishing purchase price.
The work is that of the engineers, and the City makes no war-
ranty, either express or implied, relative to the soils conditions
and /or drainage characteristics of the subject parcel.
SECTION 6. Zoning. The subject property is presently
zoned R -1 (Single Family Residence District). The City of Newport
Beach makes no representations as to use and development standards
which may apply to the property. Such information must be ob-
tained from the City of Huntington Beach.
SECTION 7. Sealed Bids. Said property is hereby
offered for sale, and bids therefor are invited, beginning
Friday, December 1, 1972, under the procedure of sealed bidding
and public auction as hereinafter set forth. The minimum ac-
ceptable bid shall be $130,000.00. Each bid must be on an of-
ficial Bidders Proposal Form and submitted to the City of Newport
Beach, City Clerk, 3300 Newport Boulevard, Newport Beach,
California 92660, by 10 :00 A.M., Friday, January 12, 1973.
All bids shall be in a sealed envelope clearly marked: "SEALED
BID PROPOSAL - BUSHARD AND HAMILTON PROPERTY -
BEACH."
SECTION 8. Deposit. Each bid must be unconditional
and without qualifications, and be accompanied by a deposit of
cash or a certified or Cashier's check payable to the City of
Newport Beach, equal to ten percent (10%) of the amount bid.
This deposit is to guarantee that if the City accepts the sealed
bid or an oral bid made at the auction (See Section 10) by a bidder,
said bidder will complete the purchase within thirty (30) days
in accordance with the bid that was accepted by the City and the
terms of this resolution.
If qualified sealed bids of equal amounts
are submitted, the one received first by the City Clerk shall be
considered the highest of such bids for all purposes. The
-3-
DON:sh
11/29/72
n
•
deposit of the successful bidder shall be applied to the purchase
price, and will not be deposited into escrow. Upon acceptance
of the successful bid by the City Council, all other deposits
shall be returned to the bidders. Failure of the successful
bidder to complete the purchase as above required shall result
in forfeiture of the deposit to the City.
SECTION 9. Opening Bids. The sealed bids shall be
opened and publicly announced in the Office of the City Clerk at
10:00 A.M., Friday, January 12, 1973.
SECTION 10. Public Auction. At the regular City Council
meeting of Monday, January 22, 1973, at 7:30 P.M., the City Clerk
shall announce the amount of the highest sealed bid received and
the name of the bidder, and the City Manager shall then call for
oral bids. To be considered, the first oral bid must exceed the
highest sealed bid by $5,000.00. Additional oral bids must be in
multi�les of $1,000.00 to be acceptable. To be qualified to
participate in the public auction, a bidder must have submitted a
valid sealed bid, together with the necessary deposit.
In conducting the sale, the City Council may
waive informalities in bids and may by motion modify the terms of
this resolution as deemed necessary to obtain the highest price
for the property.
SECTION 11. Sale Award. Upon receiving the highest
bid obtainable from a qualified bidder, the City Manager shall
declare the amount of the highest bid and the name of the bidder.
The City Council may then determine whether it wishes to accept
or reject the high bid, or the Council may continue the sale until
its next regular meeting.
SECTION 12. Escrow - Terms. The bidder to whom the
property is sold must make full payment therefor to the City
ME
DON:sh
11/29/72
9
within thirty (30) days after the City Council approves the sale.
Upon acceptance of the highest and best bid by the Newport Beach
City Council, the City shall open an escrow with the Bank of
Newport and forthwith deposit into said escrow a properly executed
Grant Deed conveying fee title to the property.
SECTION 13. Title Insurance. On notice from Title
Insurance and Trust Company that it is prepared to issue at Buyer's
expense a CLTA Standard Coverage Title Insurance Policy with
liability equal to the full purchase pride showing title vested
in the highest bidder, subject only to the exceptions shown in
the preliminary title report, the bidder shall deposit into the
escrow the difference between the bid award price and his cash
or certified check bid deposit.
SECTION 14. Real Estate Commissions - Closing Costs.
The buyer shall pay for all recording costs and real property
transfer taxes within thirty (30) days after the date the City
Council approves the sale.
All bids will be on a NET NET NET basis,
and the City of Newport Beach assumes no responsibility to pay
real estate commissions, recording fees, deed transfer fees,
escrow fees or cost of Policy of Title Insurance; these costs
should be taken into consideration when submitting bids.
SECTION 15. Real Property Taxes. Although owned
by the City of Newport Beach, a municipal corporation, this property
is not exempt from real property taxes. Said taxes will be pro-
rated between buyer and seller to the date of opening of escrow.
SECTION 16. Inability to Convey. If the property
cannot legally be sold by the City, or the City is unable to
convey marketable fee title within a reasonable time after the
date of sale, the sale shall be void and deemed mutually can-
celled, and any price paid or deposit made by buyer shall be
refunded and no liability of the City shall exist or arise from
such cancellation.
-5-
SECTION 17. No Warranty. No warranty is made or
intended by any statement in this resolution or the notice of
sale, or otherwise, with respect to location, size, zone or
utility or interest therein which is sold or offered for sale.
•
SECTION
18.
Withdrawal from
Sale. The City Council
reserves the right
to
reject any and all
bids.
SECTION
19.
Notice of Sale -
Publication. The
City Clerk shall prepare a notice of sale setting out the ad-
dress or location, description, zone and approximate size of
the property being offered for sale, the date, place and time
the bids will be received and opened and the fact that additional
information may be obtained from the City Clerk's office. The
notice shall be published once in the official newspaper of the
City, and copies of the notice and resolution shall be made
available for inspection in the City Clerk's office.
SECTION 20. Official Bidders Proposal Form. All
bids must be submitted on an official Bidders Proposal Form avail-
able for purchase in the City Clerk's office for $10.00. Facsimile
copies of the official form are not acceptable.
ADOPTED this 27th day of November , 1972.
ATTEST:
City Clerk
. I D AS ME 0^ INAL
_..L.�4.... -- -...... .........
CRY CLERK OF THE CITY OF N PORT BEACK
DAM DEC J 1972
a M-
DON dm
11/20/72
•
•
CBN rEfl SEC. /®- 6 -/0
H,4Af /L TON
k-
h
0�
Q�
J'
CITY OF NEWPORT BEACH
PUBLIC WORKS DEPARTMENT
®AOPEH T Y FOR .3,4Z6-
.47- 460%Y61.4R0 AND 1-1.4AfIL TON
//v 114//1 T /A/G TON 45.64 C fr
3CAL E= / "• 300
DRAWN M. ExrER DATE is dPoc �i -
AA?ROVEp,���
N.L,
A9ii. CITY MANAO �q
DRAWINO NO.
CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
the full amount of this policy. together
with all costs, attorneys fees and expenses
which the Company is obligated hereunder
to pay. shall terminate all liability of the
Company hereunder. In the event. after
notice of claim has been given to the Com.
pany by the Insured. the Company offers
to purchase said indebtedness. the owner of
such indebtedness shall transfer and assign
said indebtedness and the mortgage securing
the same to the Company upon payment of
•the purchase price.
7. PAYMENT OF LOSS
(a) The liability of the Company under
this policy shall in no case exceed. in all.
the actual loss of the Insured and costs and
attorneys" fees which the Company may be
obligated hereunder to pay.
(h) The Company will pay. in addition
to any loss insured against by this policy
m ,
Ali COits imposed upon the Insured liti-
gation carried on by the Company for the
Insured. and all costs and attorneys fees in
litigation carried on by the Insured with
the written authorization of the Company.
(c) No claim for damages shall arise or
be maintainable under this policy (I) if
the Company, after having received notice
of an alleged defect, lien or encumbrance
not excepted or excluded herein removes
such defect, lien or encumbrance within a
reasonable time after receipt of such notice.
or (2) for liability voluntarily assumed by
the Insured in settling any claim or suit
without written consent of the Company.
or (3) in the event the title is rejected as
unmarketable because of a defect. lien or
encumbrance not excepted or excluded in
this policy, until there has been a final
determination by a court of competent jurts
diction sustaining such rejection.
(d) All payments under this policy. ex
ceps payments made for costs, attorneys
fees and expenses. shall reduce the amount
of the insurance pro tanto and no payment
shall be made without producing this policy
for endorsement of such payment unless
the policy be lost or destroyed, in which
case proof of such loss or destruction shall
he furnished to the satisfaction of the Com-
pany; provided. however, if the owner of
0
an indebtedness secured by a murtgage
shown in Schedule B is an Insured herein
then such pavments shall not reduce pro
tanto the amount of the insurance afforded
hereunder as to such Insured, except to the
extent that such payments reduce the amount
of the indebtedness secured by such mort-
gage. Payment in full by any person or
yet antary satisfaction or release by the In-
sttcd of a mortgage covered by this policy
shall terminate all liability of the Company
to the insured owner of the indebtedness
secured by such mortgage. except as pro-
vided in paragraph 2 hereof.
(e) When liability has been definitely
fixed in accordance with the conditions of
this policy the loss or damage shall be pay-
able within thirty days thereafter.
8. LIABILITY NONCUMULATIVE
It is expressly understood that the
amount of this policy is reduced by any
amount the Company may pay under any
policy insuring the validity or priority of
any mortgage shown or referred to in
Schedule B hereof or any mortgage here-
after executed by the Insured which is a
charge or lien on the estate or interest
described or referred to in Schedule A, and
the amount so paid shall he deemed a pay
ment to the Insured under this policy. -The
provisions of this paragraph numbered 8
shall not apply to an Insured owner of an
indebtedness secured by a mortgage shown
in Schedule B unless such Insured acquires
title to said estate or interest in satisfaction
of said indebtedness or any part thereof.
9. SUBROGATION UPON PAYMENT OR
SETTLEMENT
Whenever the Company shall have settled
a claim under this policy. all right of sub-
rogation xhall vest in the Company un-
affected by any act of the Insured. and it
shall be subrogated to and be entitled to
all rights and remedies which the Insured
would have had against any person or prop-
erty in respect to such claim had this policy
not been issued. If the payment does not
cover the loss of the Insured. the Company
shall be subrogated to such rights and
remedies in the proportion which said pay-
ment bears to the amount of said loss. If
loss should result from any act of the In-
sured. such act shall not void this policy.
but the C nipany. in that event. shall be
required to pay only that part of any losses
insured against hereunder which shall ex
reed the amount. if any. lust to the Com-
pany by reason of the impairment of the
right of subrogation. The Insured. if re
quested by the Company. shall transfer to
the Company all rights and remedies
against any person or property necessary in
order to perfect such right of subrogation.
and shall permit the Company to use the
name of the Insured in any transaction of
litigation involving such rights or remedies.
If the Insured is the owner of the in-
debtedness secured by a mortgage covered
by this policy, such Insured 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 mortgage. or release any col-
lateral security for rite indebtedness. pro
vided such act does not result in any loss
of priority of the lien of the mortgage.
10. POLICY ENTIRE CONTRACT
Any action or actions or rights of action
that the Insured may have or may bring
against the Company arising out of the
status of the lien of the mortgage covered
by this policy or the tide of the estate or
interest insured herein must he based on
the provisions of this policy.
No provision or condition of this policy
can be waived or changed except by writing
endorsed hereon or attached hereto signed
by the President, a Vice President. the
Secretary. an Assistant Secretary or other
validating officer of the Company.
11. NOTICES, WHERE SENT
All notices required to be given the Com-
pany and any statement in writing required
to be furnished the Company shall be ad
dressed to it at the office which issued this
policy or to its Home Office, -133 South
Spring Street, Los Angeles, California 90051.
17. THE PREMIUM SPECIFIED IN SCHEDULE
A IS THE ENTIRE CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE INSURANCE.
TI
Title Insurance and Trust Company
r-
70 1012 FC (5 -72)
Colifo,nto fond Title Assodcilion
51ondora Coreroge Policy Form
Copyright 1%3
POLICY OF TITLE INSURANCE
ISSUED BY
Title Insurance and Trust Company
Title Insurance and 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. exiating 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 an Insured in Schedule A. buP only insofar as such defect affects the
lien or charge of said mortgage upon the estate or interest referred to in this polity; 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, provisfoq; of Schedules A, B and C and to the Conditions and Stipulations
s .
hereto annexed.
In Witnett Whereof, Title Insurance and Trust Company has caused its
corporate name and seal to be hereunto affixed by its duly authorized officers
on the date shown in Schedule A.
Title insurance and Trust Company
by
r✓ PRESIDENT
Attest 04 / (
SECRETARY
•
CONDITIONS AND STIPULATIONS
1. DEFINITION OF TERMS
The following terms when used in this
policy mean:
(a) "land ": the land described, specific.
ally nr by reference. in Schedule C and
improvements affixed thereto which by law
constitute real property;
(b) "public records ": those records
which impart constructive notice of matters
relating to said land;
(c) "knowledge ": actual knowledge, not
constructive knowledge or notice which
may be imputed to the Insured by reason
of any public records;
(d) "date ": the effective date;
(e) "mortgage ": mortgage, deed of trust.
trust deed. or other security instrument; and
(f) "insured', the party or parties named
as :nsurcd, and if the owner of the in-
deFtedness secured b4 a mortgage shown in
Schedule B is named as -an Insured in
Schedule A, the Insured shall include (1)
each successor in interest in ownership of
such indebtedness, (2) any such owner who
acquires the estate or interest referred to
in this policy by foreclosure, trustee's sale.
or other legal manner in satisfaction of
said indebtedness, and (3) any federal
agency or instramei.tality which is an in-
surer or guarantor under an insurance con-
tract (it guaranty insuring or guaranteeing
said indebtedness, or any part thereof,
whether named as an insured herein or not.
subject otherwise to the provisions hereof.
2. BENEFITS AFTER ACOUISITION OF TITLE
If an insured owner of the indebtedness
secured by a mortgage described in Sched-
ule B acquires said estate or interest, or
any part thereof. by foreclosure, trustee's
sale. or other legal manner in satisfaction
of said indebtedness, or any part thereof.
or if a federal agency or instrumentality
acquires said estate or interest, or any part
thereof, as a consequence of an insurance
contract or guaranty insuring or guarantee-
ing the indebtedness secured by a mortgage
covered by this policy. or any part thereof,
this policy shall continue in force in favor
of such Insured, agency or instrumentality,
subject to all of the conditions and stipula-
tions hereof.
3. EXCLUSIONS FROM THE COVERAGE OF
THIS POLICY
This policy does not insure against loss
or damage by reasons of the following:
(a) Any law, ordinance or governmental
regulation (including but not limited to
building and zoning ordinances) restricting
or regulating or prohibiting the occupancy,
use or enjoyment of the land, or regulating
the character, dimensions, or location of
any improvement now or hereafter erected
on said land, or prohibiting a separation in
ownership or a reduction in the dimensions
or area of any lot or parcel of land.
(h) Governmental rights of police power
or eminent domain unless notice of the
exercise of such rights appears in the public
revurds at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described in
Schedule C. or title to streets, roads, ave-
gurx, lanes, ways or waterways on which
such land abuts, or the right to maimain
therein vaults. tunnels. ramps or any other
structure or improvement: to any rights or
easements therein unless this policy specific-
ally provides that such property, rights or
easements are insured, except that if the
land abuts upon one ur nwre physically
open streets or highways this policy insures
the ordinary rights of abutting owners for
access to one of such streets of highways.
unless otherwise excepted or excluded
herein.
(d) Defects, liens, encumbrances, adverse
claims against the title as insured or other
matters (1) created, suffered, assumed or
agreed to by the Insured claiming loss or
damage; or (2) known to the Insured
Claimant either at the date of this policy
or at the date such Insured Claimant ac-
quired an estate or interest insured by this
policy and not shown by the public records,
unless disclosure thereof in writing by the
Insured shall have been made to the Com-
pany prior to the date of this policy: or (3)
resulting in no loss to the Insured Claim-
ant: or (4) attaching or created subsequent
to the date hereof.
(e) Loss or damage which would not
have been sustained if the Insured were a
purchaser or encumbrancer for value with -
gut knowledge.
4. DEFENSE AND PROSECUTION OF ACTIONS
— NOTICE OF CLAIM TO BE GIVEN BY
THE INSURED
(a) The Company, at its own cost and
without undue delay shall provide (1) for
the defense of the Insured in all litigation
consisting of actions or proceedings com-
menced against the Insured, or defenses,
restraining orders, or injunctions interposed
against a foreclosure or sale of the mort.
gage and indebtedness covered by this policy
or a sale of the estate or interest in said
land; or (2) for such action as may be
appropriate to establish the title of the
estate or interest or the lien of the mort-
gage as insured, which litigation or action
in any of such events is founded upon an
alleged defect, lien or encumbrance in.
sured against by this policy, and may pur-
sue any litigation to final determination in
the court of last resort.
(b) In case any such action or proceed-
ing shall be begun, or defense interposed,
or in case knowledge shall come to the In-
sured of any claim of title or interest which
is adverse to the title of the estate or in.
terest or lien of the mortgage as insured,
ur which might cause loss or damage for
which the Company shall or may be liable
by virtue of this polity, or if the Insured
shall in good faith contract to sell the in.
debtedness secured by a mortgage covered
by this policy, or, if an Insured in good
faith leases or contracts to sell, lease or
mortgage the same, or if the successful
bidder at a foreclosure sale under a mort.
gage covered by this policy refuses to pur.
chase and in any such event the title to
said estate or interest is rejected as un-
marketable, the Insured shall notify the
Company thereof in writing. if such notice
shall tun be given to the Company within
ten days of the receipt of proems or plead
ings or if the Insured shall not. in writing.
promptly notify the Company of any de.
feet. lien or encumbrance insured against
which shall crime to the knowledge of the
Insured, or if the Insured shall not. in
writing. promptly notify the Company of
any such rejection by reason of claimed on-
marketability of title. then all liability of
the Company in regard to the subject matter
of such action, proceeding to shall
cease and terminate: provided, however,
that failure to notify shall in no case
prejudice the claim (if any Insured unless
the Company shall he actually prejudiced
by such failure and then unly to the exrent
of such prejudice.
(c) The Company shall have the right
at its own cost to institute and prosecute
any action or proceeding ur du any other
act which in its opinion may be necessary
or desirable to establish the title of the
estate or interest or the lien of the mort-
gage as insured: and the Company may
take any appropriate action under the terms
of this policy whether or not it shall be
liable thereunder and shall not thereby
concede liability or waive any provision of
this policy.
(d) In all cases where this policy per.
mits or requires the Company to prosecute
or provide for the defense of any action
or proceeding, the Insured shall secure to
it the right tea so prosecute or provide de-
fense in such action or proceeding, and all
appeals therein, and permit it to use, at its
option, the name of the Insured for such
purpose. Whenever requested by the Com-
pany the Insured shall give the Company
all reasonable aid in any such action or
proceeding, in effecting settlement, securing
evidence, obtaining witnesses. or prosecu.
ting or defending such action or proceed.
ing. and the Company shall reimburse the
Insured for any expense so incurred.
5. NOTICE OF LOSS — LIMITATION OF
ACTION
In addition to the notices required under
paragraph 4(b), a statement in writing of
any loss or damage for which it is claimed
the Company is liable under this policy
shall be furnished to the Company within
sixty days after such loss or damage shall
have been determined and no right of
action shall accrue to the Insured under
this policy until thirty days after such
statement shall have been furnished, and
no recovery shall be had by the Insured
under this policy unless action shall be
commenced thereon within five years after
expiration of said thirty day period. Failure
to furnish such statement of loss or damage.
or to commence such action within the
time hereinbefore specified, shall be a con.
clusive bar against maintenance by the in-
sured of any action under this policy.
6. OPTION TO PAY, SETTLE OR COMPRO-
MISE CLAIMS
The Company shall have the option to
pay or settle or compromise for or in the
name of the Insured any claim insured
against or to pay the full amount of this
policy, or, in case loss is claimed under this
policy by the owner of the indebtedness
secured by a mortgage covered by this
policy, the Company shall have the option
to purchase said indebtedness; such pur-
chase, payment or tender of payment of
lConditiori. and Stipulutions Continued and Concluded on Last Page of This Policy)
•
TO 0181 AS C
Calla Imd This Assodaeae
sMa�md Comm" Popp -tydr SCHEDULE A
Premium $ 5 4 5. 0 0
Effective
Amount $ 175,nn0.On Date OCTORFR 90 1072 AT 8:00 A.M. Policy No. 505859
rNSURED
CITY OF f!EllPORT REACH, A MUNICIPAL CORPORATION.
•
1. Title to the estate or interest covered by, this policy at the date hereof is vested in:
CITY OF t!E' :! °OPT BEACH, A MUNICIPAL CORPORATIOM.
2. The estate or interest in the land described or referred to in Schedule C covered by this policy is
a fee.
SCHEDULE B
This policy does not insure against lose or damage by reason of the following:
PART I
1. Taxes or assessments which are not shown as existing liege by the records of any taxing authority that
levies taxes or assessments on reel property or by the public records.
L Arty facts, rights, interests, or claims which ere not shown by the public records but which could be
ascertained by an inspection of said lend or by making inquiry of persons in possession thereof.
3. F.eetments, claims of easement or encumbrances which era not shown by the public records,
4. Discrepencee, conflicts in boundary lines, shortage in nm encroachments, or any other facts which a
correct survey would disclose, and which are not shown by L Public records
& Unpatmted mining claims: reservations or exceptions in patents or m Acts authorizing the issuance
thereof; water rights, zlaims or title to water.
E
To 1012.111 Co.,. C
C.111ernla lend Title Arrosletlen
Standard Ceore.e Ye11a 191
S (, H F n U L F: B— (Continued)
PART II
1, GENERAL APD SPECIAL TAXES FOR TLIF FISCAL YrAR 1972 -1973, A LIT:-M
t!OT YET PAYABLE.,
2 THE USE A"D COMTROL OF CIFNFGAS AMD NATURAL STRFAMS OF !•!ATFR, IF ANY,
•NATURALLY UPO ^I, FLOWING ACROSS, INTO OR BY SAID LAND, AND THE RIGHT
OF '-FAY FOR AND TO CONSTRUCT IRRIGATION OR DRAIMAG7 DITCHES THROUGH
r•q,Tn i A>.rn TO I^ ^IrA.TF OP DPAI "i THE AI)JACF ^'T LA "111, A37 RFSr.RVFn I "! THE
DECD RECORDED IU LOOK 30, PAGE 220, DEEDS.
3, AN EASEMENT FOR ROADS, RAILROADS APlD DITCHES AS RESERVED It THE
IP;'7,TRIJ11C11T ArOVF 11711TIONED, OVER THE (JEST 20 FEET OF SAID LAND4
0
wls -J IVOY IV qiD `NYI
- f Wth AL 7 A i aElna d atM.b om oAM t - form Laa, Fongl -1vro
1 Ce.ara9e.
a
Pan. 11-1970
oel
an land Tithe Asallon Ownor i 9o110
Fam
a
Standard land " AJ.ecl963
Standard Cowrepo folkT•19d9
0
SCHEDULE C
The land referred ro in this policy is described as follows:
THAT POP.TIO;: OF THF !'OPTH HALF OF THE NORTHI -IEST QUARTER OF THE SOUTH -
EAST QUARTfiR OF S!- CTIO! %i 13, TOWNSHIP 5 SOUTH, P.APIGE 10 WEST, It! THE
RAPIC!O LAS BOLSAS, CITY OF HUITINGTON PEACH, COUNTY OF ORANGE, STATE
OF CALIFORF!IA, AS PER P1AP RECORDED IN BOOK. 51, PAGE 14, OF MISCELLANEOUS
RAPS, IN THE OFFICe OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIRF-D
AS FOLLOWS:
AT TtIF If!T!7F'SFCTT01N.1 OF THr 11FST 1_T'IF OF SAID ^IOP.TH;dF.ST
01,'AaT' '::IT'I T!!E 11:'P3TE':LY P:OLOh'GATIO'1 OF T71� PdORT'i LINE OF THE
LAND CONVEYED BY H. D. MEYER TO THE CITY OF NEWPORT BEACH BY DEED
RECORDED AUGUST 7, 1 ^23, IN BOOK 4131, PAGE 276, OF DEEDS OF SAID ORANGE
COUNTY; THENCE EAST 495.00 FEET ALONG SAID PROLONGATIOM AND SAID NORTH
LI''' TO THE NORTHEAST CORNER. OF SAID LAND; THENCE SOUTH 440.00 FEET
ALONG THF. EAST LINE OF SAID LAND TO THE SOUTH LINE OF SAID MORTH HALF
OF THF. NORTH':!EST QUARTER OF THF. SOUTHEAST QUARTER; THENCE WEST 495.00
FEET ALONG SAID SOUTH LINE TO THE !-!EST LINE OF SAID NORTHWEST QUARTER;
THENCF NORTH 440.00 FEET ALONG SAID !•!FST LINE TO THF POINT OF BEGINNING.
FXCmPT FROM THAT PORTION! THEREOF LYING NORTHERLY OF THE SOUTHERLY
165.00 FEET, THAT PORTION INCLUDED WITHIN THE COUNTY ROAD ADJACENT ON
THE !E.ST, AS SAID ROAD EXISTED ON MARCH 13, 1922.
SAID LAND IS SH01�91 OM A MAP FILED IN BOOK. 7, PAGF 37, OF RECORD OF
SURVEYS IM THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
CLTA 107.6 (4- 10.69)
( 6.71)
ALTA OR STANDARD COVERAGE
•
INDORSEMENT
ATTACHED TO POLICY No. 505859
ISSUED BY
Title Insurance and Trust Company
The following exclusion from coverage under this policy is added to Paragraph 3 of, the
Conditions and Stipulations:
"Consumer credit protection, truth in lending or similar law."
The total liability of the Company under said policy and any indorsements therein shall not
exceed, in the aggregate, the face amount of said policy and costs which the Company is obligated
under the conditions and stipulations thereof to pay.
This indorsement is made a part of said policy and is subject to the schedules, conditions and
stipulations therein, except as modified by the provisions hereof.
- 1.x-1 �0�t9p �: �•
l►g4kIS4 �E� \w �=
•
Title Insurance and Trust Company
By qL7
SECRETARY
TO Sae VC ' r
FORM 160
RESOURCES AGENCY OF CALIFORNIA
DEPARTMENT OF CONSERVATION
DIVISION OF OIL AND GAS
REPORT OF WELL ABANDONMENT
_830 North La Brea LInalewood 9002__�___(,`gljfornia
October 3. 1972
•
Mi...T,__h,_Atkinson. „ge_Llt
PACIFIC SUPP,IP�000PEIIVE
3225. Ocean Blvd_
Corona del Mar CA 92625
DEAR SIR:
Your report of abandonment of Well No ...........
City_ _31el�tQ t�� 7 __jQgg�pp�zgl__,
_3- ..B. & M.,
____Srange_____._______County, dated_sap-t --- 27_ ---- 97Z received____ sepr__28,_.1922,
has been examined in conjunction with records filed in this office.
A review of the reports and records shows that the requirements of this Division,
which are based on all information filed with it have been fulfilled.
ADS:rk
cc Headquarters
Production Dept.
Conservation Comm,
Orange Co. Dept of Bldg & Safety
Dept of Oilfield Control
JOHN F. MATrsEws, JR.
BLANKET BOND State 0a and Go sups vk"
I M
fYKi•1MI Mfl IY OII
0