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HomeMy WebLinkAboutProperty Acquired - Southern Counties Gas Co.SECURITY TITLE INSURANCE COMPANY RELIANCE 7111E OFFICE 825 NORTH BROADWAY, SANTA ANA, CALIFORNIA TELEPBONE K1.6.,17 2.7403 February 21, 1955 City of Newport Beach City Hall Newport .Beach, California Attn: Gordon 3ickler Finance Department Gentlemen: Our Escrow No. 35197 -B We are enclosing our policy of title insurance No. 113793, covering property which you purchased through our above numbered escrow from Southern Counties Gas Company. mw; lfb encl EL CENTRO FRESNO HANFORD MADERA MERCED MODESTO RIVERSIDE SAN BERNARDINO SAN DIEGO SAN LUIS OBISPO SANTAANA BANTA BARBARA STOCKTON VISALIA Y urs very�� / Ze Ul Escrow Officer P -118 -R (Rev. 8 -54) 12 -3 -54 3M 0 E RELIANCE TITLE OMCE 825 North Broadway Santa Ana, California 18, 000.00 Charge for Tide Policy s 107.00 No. 113793 SECURITY TITLE INSURANCE COMPANY a California corporation, herein called the Company, for a valuable consideration paid for this Policy of Title Insurance does hereby insure CITY OF NEWPORT BEACH, together with the persons and corporations included in the definition of "the insured" as set forth in the stipulations of this policy, against loss or damage not exceeding - - - - - - - - - - - - - - - - - - - EIGHTEEN THOUSAND - - - - - - - - - dollars, which the insured shall sustain by reason of: 1. Title to the land described in Schedule A being vested, at the date hereof, otherwise than as herein stated; or 2. Unmarketability, at the date hereof, of the title to said land of any vestee named herein, unless such unmarket- ability exists because of defects, liens, encumbrances, or other matters shown or referred to in Schedule B; or 3. Any defect in, or lien or encumbrance on, said title, existing at the date hereof, not shown or referred to in Schedule B; or 4. Any defect in the execution of any mortgage or deed of trust shown in Schedule B securing an indebtedness, the owner of which is insured by this policy, but only insofar as such defect affects the lien or charge of such mortgage or deed of trust upon said land; or 5. Priority, at the date hereof, over any such mortgage or deed of trust, of any lien or encumbrance upon said land, except as shown in Schedule B, such mortgage or deed of trust being shown in the order of its pri. ority in Part Two of Schedule B; all subject, however, to Schedule A, and B, and the Stipulations herein, all of which schedules and stipulations are hereby made a part of this policy. In witness whereof, Security Title Insurance Company has executed this policy by its authorized officers as of the date set forth in Schedule A. Secretary President An Authorized Signature CLTA standard Coverage Copyright 1950 P- 118 -A -R (Rev. 6 -54) 12 -3 -54 3.500 ' 1. On February 16, 1955, SCHEDULE A at 9;00 o'clock A . M ., the title to said land is vested in CITY OF NEWPORT BEACH, a municipal corporation. 2. Description of the land in the County of Orange State of California, title to which is insured by this policy: Lots 11 to 16 inclusive, in Block 117 of Section B of Newport Beach, in the City of Newport Beach, as shown on a map thereof recorded in book 4, page 27, Miscellaneous Maps, records of said Orange County. CLTA standard Coverage Copyright 1950 P-118-B-R (Rev. 8 -54) 12 -3 -54 3,500 - SCHEDULE B This policy does not insure against loss by reason of the matters shown or referred to in this Schedule except to the extent that the owner of any mortgage or deed of trust shown in Part Two is expressly insured in Paragraphs numbered 4 and 5 on Page 1 of this Policy. PART ONE: This part of Schedule B refers to matters which, if any such exist, may affect the title to said land, but which are not shown in this policy: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing agency or by the public records; and easements, liens, or encum• brances which are not shown by the public records. 2. Rights or claims of persons in possession of said land which are not shown by the public records. 3. Any facts, rights, interests, or claims which are not shown by the public records, but which could be ascertained by an inspection of said land, or by making inquiry of persons in possession thereof or by a correct survey. 4. Mining claims, reservations in patents, water rights, claims or title to water. 5. Any laws, governmental acts or regulations, including but not limited to zoning ordinances, restricting, regulating or prohibiting the occupancy, use or enjoyment of the land or any improvement thereon, or any zoning ordinances prohibiting a reduction in the dimensions or area, or separation in ownership, of any lot or parcel of land; or the effect of any violation of any such restrictions, regulations or prohibitions. PART TWO: This part of Schedule B shows liens, encumbrances, defects and other matters affecting the title to said land or to which said title is subject: None CLTA Sf=dard Coverage P- 119 -ST -B (Rev. 9 -54) 8- 654 2500 1. SCOPR OF COVERAGE This policy does not insure against, and the Company will not be liable for loss or dam- age created by. or arWng out of any of the following: (a) defects, liens, claims, encum- brances, or other matters which result in no pecuniary loss to the insured: (b) defects, liens, encumbrances, or other matters created or occurring subsequent to the data hereof; (c) defects, liens, encumbrances, or other matters created or Buffered by the insured claiming such loss or damage; (d) detects, liens, claims, encumbrances, or other matters existing at the data of this policy and known to the insured ciciming such lose or dam- age, either at the date of this policy or at the data such insured claimant acquired an estate or interest insured by this policy, un- less such detect, lien, claim, encumbrance or other matter shall have been disclosed to the Company in writing prior to the issuance of this policy or appeared at the date of this .policy on the public records. Any rights or defenses of the Company against a named insured shall be equally available against any person or corporation who shall become an Insured hereunder ae successor of such named insured. 2. DEFENSE OF ACTIONS, NOTICE OF AC- TIONS OR CLAIMS TO BE GIVEN BY THE INSURED The Company at its own coat shall defend the insured in all litigation consisting of ac- tions or proceedings against the insured, or defenses, . restraining orders, or injunctiom interposed against a foreclosure or sale of acid land in satisfaction of any indebtedness, the owner of which to insured by this policy, which litigation is founded upon a detect, Ron, encumbrance, or other matter insured against by this policy, and may pursue such litigation to final determination in the court of last resort. In case any such litigation shall become known to any insured, or to coma knowledge shall come to any insured of any claim of title or interest which is ad- verse to the title as insured or which might cause loss or damage for which the Core. party shall or may be liable by virtue of this policy, such insured shall notify the Company thereof in writing. It such notice shall not be given to the Company at least two days be- fore the appearance day in any such litiga- tion, or it such insured shall not in writing. promptly notify the Company of any detect, lien, encumbrance, or other matter insured against, or of any such adverse claim which shall came to the knowledge of such in- sured, in respect to which loss or damage Is apprehended, then all liability of the Com- pany as to each insured having such knowl- edge shall cease and terminate; provided, however, that failure to so notify the Com- pany shalt in no case prejudice the claim of any insured unless the Company shall be actually prejudiced by ouch failure. The Com- pany shall have the right to Institute and prosecute any action or proceeding or do any other act which, in its opinion, may be neces- sary or desirable to establish the title, or any insured lien or charge, m insured. In all cases where this policy permits at requires the Company to prosecute or defend any action or proceeding, the insured shall secure to it in writing the right to so prosecute or defend such =lion 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 Company the insured shall assist the Company in any ouch action or proceeding, in effecting sane• went securing evidence. obtaining witnesses, prosocuting of defending such action or pro- ceeding, to such extent and in such manner as in deemed desirable by the Company, and the Company shall reimburse the insured for any expense so incurred. The Company shall be subrogated to and be entitled to all caste and attorneys' tees incurred or ex- pended by the Company. which may be re- coverable by the insured in any litigation carried on by the Company on behalf of the To AA Standard g Coverage STIPULATIONS insured. The word "knowledge" in this paragraph memos actual knowledge, and does not refer to canstructive knowledge or notice which may be Imputed by the public records.. 3. NOTICE OF LOSS. LIMITATION OF AC- TION A statement In writing of any lose or damage for which it Is claimed the Company Is liable under this policy shall be furnished to the Company within afxty, days after such loss or damage shall have been ascertained. No action or proceeding for the recovery of any such loos or damage shall be instituted or maintained against the Company until after full compliance by the Insured with all the canditiom Imposed on the Insured by this policy, nor unless commenced within twelve months after receipt by the Company of such written statement. 4. OPTION TO PAY, SETTLE, OR COM- PROMISE CLAIMS The Company reserve$ the option to pay, settle, or compromise tor, or in the name of, the insured, any claim insured against or to pay this policy in full at any time, and pay- ment or tender of payment of the full amount of this policy, together with all accrued cost$ which the Company is obligated hereunder to pay, shall terminate all liability of the Com- pany hereunder, including all obligations of the Company with respect to troy litigation pending and subsequent costs thereof. 5- SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have settled a claim under this policy. It shall be subroga- red to and be entitled to Oil lights, securi- ties, and remedies which the insured would have had against any Person or property In respect to such claim, had this polity not been Issued. It the payment does not cover the lose of the insured, the Company shall be subrogated to ouch rights, securities, and remedies In the proportion which said pay- ment beam. to the amount of acid loss In either event the insured shall transfer, or cause to be transferred, to the Company such rights, securities, and remedies, and shall permit the Company to use the name of the insured In any tromeaclion or litigation In- volving such rights, eecuritim, or .remedies. S, OPTION TO PAY INSURED OWNER OF INDEBTEDNESS AND BECOME OWNER OF SECURITY The Company has the right and option, In case any lose 6 claimed under this policy by an insured owner of an indebtedness se cured by mortgage or deed of trust, to pay such insured the Indebtedness of the mort- gagor or truster under said mortgage or deed of trust, together with all coats which the Company to obligated hereunder to pay, in which con the Company shall become the owner of, and such insured shall at once assign and transfer to the COMPany; said mortgage or deed of trust and the in- debtedness thereby secured, and such Pay- ment shall terminate all liability under thio policy to such insured. 7, PAYMENT OF LOSS AND COSTS OF LITIGATION. INDORSEMENT AF PAYMENT ON POLICY The Company will pay, in addition to any lose Insured against by this policy, all more Imposed upon the Insured in litigation mr- ried on by the Company for the insured, and In litigation carried on by the imaed with the written authorization Of the Company, but not otherwise. The liability of the Case. Very, under this policy, shall in no case ex- coed, In OIL the actual lose of the insured and cost. which the Company Is ab- ligated hereunder to pay, and in no case shall such total liability exceed the amount of this policy and said costa. All lraymenu under this policy shall reduce the amount of the Insurance pro tanto, and payment of lose or .damage to an Insured owner of indebted- ness shall reduce, to that extent, the liabil- ity of the Company to the Insured owner of said land. No payment may be demanded by troy Insured without producing this policy for Indomement of such payment. 9. MANNER OF PAYMENT OF LOSS TO IN- Loss under this policy shall be payable, first, to any Insured owner of indebtedness secured by mortgage or deed of trust shown In Schedule B In order of priority therein shown, and if such ownership vests in more than one, payment shall be made rat- ably as their respective interests may appear, and thereafter any lose shall be payable to the other insured, and it more than one, than to such insured ratably as their respective interests may appear. if there be no such in. sured owner of indebtedness, any loss shall be payable to the insured. and it more than one, to such insured . ratably as their respec- tive interests may appear. 9. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "named insured ": the persons and corporations named as insured on first page of this policy; (b) "the Insured ": such named Insured together with (1) each successor in Owner- ship of any indebtedness secured by any mortgage or deed of trust shown In Schedule B, the owner of which. Indebtedness fs named herein as an insured, (3) any such owner or successor In ownership of any such indebtedness who acquires the land de- scribed in Schedule A or any part thereof. by lawful means In satisfaction of said In- debtedness or any part. thereof, (3) any governmental agency or instrumentality acquiring said land under an insurance con- tract or guarantee insuring or guaranteeing said indebtedness or any part thereof. and (4) any person or corporation deriving an estate or interest in said land as an heir or devisee of a named Insured or by reason of the dissolution, merger; a camolidafian of a corporate named insured: (c) 'land ": the land described epeciti- cally or by reference In Schedule A and Im- provements affixed thereto which by law constitute real property: (d) "date ": the exact day, hour and minute specified In the first line of Schedule A (unless the context clearly requires a different meaning); (e) "taxing agency": the .State and a =h county, city and county, city and district N which said land or some part thereof fe eftu- aed that lavles inxas or assessments on real property: (t) "public records ": those public rec- ords which, under the recording laws, im- part constmofive notice of matters relating to sold land. 10, WRITTEN INDORSEMENT REQUIRED. TO CHARGE POLICY No prevision or condition of this policy can be waived or changed except by writing In- dorsed hereon or attached hereto signed by the president, a Vice President, the Secretary, or an Assistant Secretary of the Company. It. NOTICES, WHERE SENT All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at Its home office at W West Sixth Street, lee Angeles 14, CAIJOnaim \ Ty/ ;3! l l c a r i Al - �� Jp 1LY is w • m•rw of informetim only. and whit the oompikd :•• elm. uo )M.ft is awned. hs.dw ;lmp"I a wgw.cmm § ƒ�§ f�\ E7� � / !( \! ƒ §� ;■ �^ '■ % ®q � \§ �■ \. \} ■ /| / |\ q| / \ |\§ ! � 5 2\ ;| !■ e 2| � / !( \! ƒ §� ;■ \ '■ / \§ �■ \. \} ■ /| / |\ q| / ! � 5 2\ ;| !■ e 2| a m ) B k \ ƒ \ } \ §� Mn k /&n §mom( S 2 � § \ � # « k'k � Cash received Demand for deed Escrow fee (z) Prorate taxes 2/16/55 to 7/1/55 IM -a ab SAVE FOR INCOME TAX INFORMATION E -62 (G.S.) 8 -1 -52 $18,190.32 $18,000,00 25.50 163.59 1.23 $18,190.32 n $18,190.32 OFFICES: EL CENTRO VISALIA SECURITY TITLE. INSURANCE COMPANY OFFICES'% SANTA S/OiMT/Ai 9G N9 STOCKTON MERGED /9iBA HANFORD RIVERSIDE MADERA MARIPOSA SAN DIEGO ....- ...... Reliance Title _........: _.:.----------------------------------- .... ................O�fice. BAX LUIS OBISPO MODESTO SAN BERNARDINO FRESNO City of Newport Beach DATE Feb. 16, 1955 ESCROW 35197 -8 L J PROPER^' Purchase from Southern County Gas Co. nlcenracru rlJTC I RFC rIPTC Cash received Demand for deed Escrow fee (z) Prorate taxes 2/16/55 to 7/1/55 IM -a ab SAVE FOR INCOME TAX INFORMATION E -62 (G.S.) 8 -1 -52 $18,190.32 $18,000,00 25.50 163.59 1.23 $18,190.32 n $18,190.32 SECURITY TITLE INSURANC%fOMPANY RELIANCE TITLE OFFICE 825 NORTH City of Newport Beach City Hall Newport Beach, California L • . -SANTA ANA, CALIFORNIA-- TELEPHONE Kimberly 2 -7201 The above escrow has been closed in accordance with your instructions. (DATE Feb. 17, 1955 ESCROW 35197 —B CLOSING DATE 2/1.6/55 J Your deed has been recorded and will be mailed to you by the County Recorder. You should thereafter list this property with the County Assessor in order that you may receive notices of future taxes and assessments. General information relative to taxes is contained on the reverse of this letter. TITLE POLICY Title Insurance policy No. 113793 issued by SECURITY TITLE INSURANCE COMPANY in the amount of$ 18,000.00 is being written and will be forwarded to you within a few days. LOAN INFORMATION none INSURANCE INFORMATION She7( fdD6w➢ 5g% au�Earr Xe-] 36FidSes} 6miE- k3€ en7C. se�1- idClhiR•acjEM�lffir- Fr7firrsYer i� No fire insurance handled through this escrow. ENCLOSURES Final statement of your account Our check in the amount of $1.23 refund All taxes for the fiscal year 1954 -55 have been paid. We appreciate being permitted to handle this transaction for you and ho /pew that we y again have the opportunity of serving you. a{,ri�_tjtQp'X/ lfb Mabel Wilkinson, Escrow Officer E-69 -8 Buyers Closing letter 7 -29-54 _ t_ �. .E...... -.., - _ _ ....... -. • RE`ULUTIUT< t:U. "x!30,2 !' ACCEPTING, GRANT DL WHEREAS, there has been presented to the City of Newport l i, 11 Beach a certaJ iL Brant ?Need by tkW :southern Cout_ ties Gas Company 21 3 of California, the same dated January 27, 1955 3n�1 covering :, 4 the following described property situated in the Ci"I of Newport Ckc-ach, County of ' wa range, 6tate of California, to it: Lots 11, 12, 13, 14, i5 and 16,, in :clock 117 8� of "Section B, tiewport Beach', in the City of 7 Newport Beach as shown on a Map recorded in Book 40 Page 27 of Miscellaneous 1:srs I- the office of 8 the County Recorder of said Orange County. 9 AND, hHEYILAS, it appears to be for the best interests of the 1©�citizens of the City of Newport Beach to accent said Grant Zeed; 11 NOr.-, ThXR- EFORE, BL IT RE-ULVED, that the said Grant'Peed 12 hertinbefore referred to and covering the said hereiaabove de- 13 scribed property, is accepted and approved by the City of Newport 14 a, and is hereby ordered recorded. il . The above and foregoing resolution was duly and regularly 111passed and adopted by the City Council of the City of Newport vetch 16', 17 at a regular meeting thereof held on the day of 18u955, by the following roll call vote, to wit: 19 �I !i 2011 HYtx , CUUi:i IL�i;Si:: .2211 NU&-, j COURCI .,A.EN; 231 A: 1,7:T C:Ui�CILtLt:: 24 28 27 (j I Mayor 2 8 1 ATTI T: 29 34.1/ c- 3 ^i ivr ;� 4y �.d -'R•r' .. `f"r!� y T .Ul -�Y .; �' S .. � _ ,may- -.• ...- si°e_v .. _: .{au..,..rr.. `R' .X't.Y.c a"f �N' T`-,. 'LC:pa�- .:v.tia�,_T.v..._..�';.. .w ..a. _,� -s.�. � s��.�u,. m EL CENTRO FRESNO NRNFORD MADERA MERGED MODESTO RIVERSIDE SAN BERNARDINO SAN SECURITY TITLE INSURANCE COMPANY SAN LUIS IOB SPO SANTA ANA RELIANCE. TITLE OFFICE SANTA BARBARA 825 NORTH BROADWAY, SANTA ANA, CALIFORNIA STOCKTO V15ALIA VIS A LIA TELEPHONE Kl.b.,I, 2 -7201 February 2, 1955 City of Newport Beach Newport Beach, California Attention: Finance Department — Gordon Sickler Gentlemen: At your request we enclose Grant Deed which has been executed by the Southern Counties Gas Company of California in favor of the City of Newport Beach to which you are to attach your Resolution of Acceptance and return document to us for recordation. Also enclosed is a statement showing the amount needed to complete your escrow as of February 16, 1955. Yours very truly, M el W1 kinson Escrow Officer MW /afr Enclosures: 2 J EL CENTRO FRE9N0 p HANFORD MAO ERA MERCED MO DESTO RI V ERSI DE. SAN AN DIE R SECURITY TITLE INSURANCE COMPANY SAN LUIS ODI6 PO SANTA ANA RELIANCE TITLE OFFICE SANTA BARBARA 825 NORTH BROADWAY, SANTA ANA, CALIFORNIA STOCKTON VISALIA TELEPHONE Kl.h.,)y @ -l@Oi January 19, 1955 City of Newport Beach City Hall Newport Beach, California Gentlemen: Escrow No. 35197 -13 We have prepared and enclose amendment to instructions pertaining to the above escrow, the changes of which were made on the instructions signed by Southern Counties Gas Company of California. If this amendment is agreeable to you, please sign and return the original, keeping the copy for your files. It is our understanding from the Southern Counties Gas Company that it will be the 29th or 30th of January, 1955 before this transaction can be completed. VIW: jwa Enc. Very truly yours,_ 1'cel Wilk nson escrow Officer AgNDMENT TO INSTRUCOONS Date-1/39/55 Escrow No -15197.0111 SECURITY MU INSURANCE COMPANY BELiANCE TITLE OMCE 825 No. Broadway. Santa Ana. Calif. Telephone Hlmberly 2 -7201 The previous instructions in this Escrow are hereby modified or amended in the following particulars only: IT is understood by the under ■+ thwt of Your above escrow is subject to the APnroval of the Board of_Dlreatore of the Southern Counties gas Company of California. Also, that this property 14 being acquired "as is' _2he.time lilnit t o c one Becror (35197 -B i• hereby eztsnd�A to 1�sbruarT 15. 19SS E4 -R 12-15-U 2M - i t ty of Xewport $eack California PLANNING COMMISSION December 28, 1954 Honorable City Council City of Newport Beach California Madam Mayor and Gentlemen: The Park, Beach & Recreation Commission recommends to your Honorable Body that Lots Ps 11, 12, 13, 14, 15, 16, Section B, Newport Beach Tract be purchased at this time. The property is now up for sale by the Southern Counties Gas Company. HC Qm Very truly yours, TGLGPHON6 14ARBOR 3131 PARTC, BRACH & RECREATION 1k COMA'•;ISSION Helene Csenar ChairmanJ`