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OLIFORNIA LAND TITLE ASSOCIATION
STANDARD COVERAGE POLICY 1963
(Amended 1969)
05 025 03 02208
CHICAGO TITLE INSURANCE COMPANY
BY this Policy of Title Insurance, CHICAGO TITLE INSURANCE COMPANY, a corporation
of Missouri, herein called the Company, does Hereby Insure those persons or parties named as IN-
SURED in Schedule A hereof, hereinafter called the Insured, the heirs, devisees, personal representa-
tives of said Insured, or if a corporation, any person or corporation deriving an interest or estate in
said land by dissolution, merger or consolidation, together with any other person or corporation included
in the term Insured as defined in this Policy, against loss or damage not exceeding the amount stated in
Schedule A hereof, 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 A, 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 or deed of trust, shown in Schedule B, securing an
indebtedness the owner of which is named as an Insured in this Policy, but only insofar as such
defect affects the lien or charge of such mortgage or deed of trust upon the estate or interest
covered hereby; or
4. Priority, at the date hereof, over any such mortgage or deed of trust, of any encumbrance upon
such estate or interest, except as shown in Schedule B, such mortgage or deed of trust being
there shown in the order of its priority;
all subject, however, to the Conditions and Stipulations annexed hereto, which Conditions and Stip-
ulations, together with Schedules A and B, are hereby made a part of this policy; all as of the time
and date shown in Schedule A, being the effective date of this policy.
In Witness Whereof, CHICAGO TITLE INSURANCE COMPANY has caused this policy to be
signed and sealed as of the date of policy shown in Schedule A, the policy to become valid when
countersigned by an authorized signatory.
CHICAGO TITLE INSURANCE COMPANY
Issued by:
MARIN TITLE GUARANTY CO.
1300 Fourth Street
P. O. Box 669
San Rafael, California 94902
(415) 456-4400
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ATTEST:
Secretary
Copyright 1963 (Amended 1969) California Land Title Association
SCHEDULE A
Amount $ 232%000.00
Fee $
737.50
Policy Date 9-28-73 Policy No. 0 5 0 2 5 03 0 2 2 0 8
at 9:30 P.M.
Order No. 9 8 2 2 2 EJC
INSURED
CITY OF TIBURON, a municipal corporation
1. The estate or interest in the land described or referred to in this schedule covered by this policy is:
A FEE to Parcel One
Easement to Parcels Two and Three
2. Title to the Estate or interest covered by this policy at the date hereof is vested in:
CITY OF TIBURON, a municipal corporation
3. The land referred to in this policy is situated in the County of Marin , State of California
, and is described as follows:
ATTACHED
Form 3235-1964 This policy valid only if Schedule B is attached. Chicago Title Insurance Company
That certain real property situate in the County of Marin, State of
California, described as follows:
PARCEL ONE:
BECINNING at a point on the Southeasterly line of that certain tract
of land described in the Deed from John J. Reed to Clothilde J. Reed,
recorded December 2, 1899 in Liber 58 of Deeds, at page 168, Marin
County Records, distant thereon North 341 42' East (California State
Highway Meridian, Rancho Meridian being North 340 15' East) 704.774
feet from its intersection with the Northeasterly right of way line
of California State Highway as approved on June 16, 1930 and shown
on plan designated District IV, Marin County Route 52, Section A;
running thence North 401 28' West 964.088 feet, North 450 09' West
65.0 feet, North 400 00' East 1070.0 feet and South 480 30' East 910.0
feet, more or less, to the Southeasterly line of the tract of land
described in the above mentioned Deed; running thence on a straight
line bearing South 340 421 West (California State Highway Meridian
Rancho Meridian) 1210.0 feet, more or less, to the point of beginning.
CONTAINING 25.0 acres, more or less.
PARCEL TWO:
AN EASEMENT for roadway and utility purposes over a 60.0 foot strip
of land, the center line of which is described as follows:
BEGINNING at a point on the Northeasterly right of way line of California
State Highway Route 52, Division 4, Marin County, California, at Engineer's
Station 201 plus 72.65 running thence North 490 32' East 717.10 feet,
to a point on the Southwesterly line of the parcel of land described
in the Deed from C. 0. Sollom, Administrator, etc., to Warren L. Bostick,
et al, dated January 21, 1949 and recorded January 24, 1949 in Liber
607 of Official Records, at page 152.
PARCEL THREE:
AN EASEMENT for roadway and utility purposes of the uniform width of
40 feet, the center line of which is described as follows:
BEGINNING at Station B as set forth in the Deed from Warren L. Bostick,
et al, to Nicholas S. Pederson, et ux, by Deed recorded February 9,
1950 in Liber 639 of Official Records, at page 190, Marin County Records;
running thence from said point of beginning South 340 11' West-309.821
feet; thence on a curve to the left, with a radius of 500 feet, a
distance of 172.351 feet; thence South 140 26' West in a direct line
to the intersection thereof with the call set forth as "North 480
30' West 910 feet, more or less", in the Deed from Warren L. Bostick
et ux, to Stephen Heller, et ux, recorded November 26, 1957 in Liber
1156 of Official Records, at page 136.
SCHEDULE B
Policy No. 05 025 03 02208
This policy does not insure against loss or damage by reason of the following:
PART 1
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies
taxes or assessments on real property or by the public records.
2. Any facts, rights, interests, or claims which are not shown by the public records out 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 11
1. County of Marin and City of Tiburon general and special taxes
for the fiscal year 1973-74 now a lien but not yet due or payable.
2A Assessment No. 6-124 of Richardson Bay Sanitary District No. 6
Series No. 5953
as follows:
Original amount : $6,407.07
Principal balance : $19760.30
The above assessment is collected by the Marin County Tax
Collector
3. An easement for roadway and utility purposes 60 feet in width,
granted to Warren L. Bostick, et ux, by Deed recorded September
59 1957 in Book 1139 of Official Records at page 110,
4. Deed of Trust securing payment of the amount hereinafter set
forth and other sums and obligations
Dated : September 19, 1973
Trustor : City of Tiburon, a municipal corporation
Trustee : Marin Title Guaranty Company,
a California corporation
Beneficiary : Henry J. Eavey
Orig. Amt. : $1729000.00
Recorded : September 289 1973 at 9:30 AM
Serial No. : 37698
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Validating Signatory
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NOTE: The following endorsements appearing after
Schedule B are an integral part of this policy:
none
orm Schedule B of this Policy consists of 1 pages. Chicago Title Insurance Company
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CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used in this policy mean:
(a) "land": the land described, specifically or by refer-
ence, in Schedule A and improvements affixed thereto which by
law constitute real property;
(b) "public records": those records which impart construc-
tive notice of matters relating to said land;
(c) "knowledge": actual knowledge, not constructive knowl-
edge 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 Insured, and
if the owner of the indebtedness secured by a mortgage shown
in Schedule B is named as 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 instrumentality which is an insurer or
guarantor under an insurance contract or guaranty insuring or
guaranteeing said indebtedness, or any part thereof, whether
named as an insured herein or not, subject otherwise to the pro-
visions hereof.
2. Benefits after Acquisition of Title
If an insured owner of the indebtedness secured by a mortgage
described in Schedule 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 guaranteeing 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 stipulations
hereof.
3. Exclusions from the Coverage of this Policy
This policy does not insure against loss or damage by reason
of the following:
(a) Any law, ordinance or governmental regulation (in-
cluding but not limited to building and zoning ordinances) restrict-
ing 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 dimen-
sions or area of any lot or parcel of land.
(b) Governmental rights of police power or eminent do-
main unless notice of the exercise of such rights appears in the
public records at the date hereof.
(c) Title to any property beyond the lines of the land
expressly described in Schedule A, or title to streets, roads, ave-
nues, lanes, ways or waterways on which such land abuts, or the
right to maintain therein vaults, tunnels, ramps or any other
structure or improvement; or any rights or easements therein
unless this policy specifically provides that such property, rights,
or easements are insured, except that if the land abuts upon one
or more physically open streets or highways this policy insures
the ordinary rights of abutting owners for access to one of such
streets or 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 acquired an estate or interest insured
by this policy and not shown by the public records, unless dis-
closure thereof in writing by the Insured shall have been made to
the Company prior to the date of this policy; or (3) resulting
in no loss to the Insured Claimant; 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-
out knowledge.
(f) Any "consumer credit protection", "truth in lending" or
similar law.
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 commenced against the In-
sured, or defenses, restraining orders, or injunctions interposed
against a foreclosure or sale of the mortgage 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 mortgage as
insured, which litigation or action in any of such events is founded
upon an alleged defect, lien or encumbrance insured against by
this policy, and may pursue any litigation to final determination
in the court of last resort.
(b) In case any such action or proceeding shall be begun,
or defense interposed, or in case knowledge shall come to the
Insured of any claim of title or interest which is adverse to the
title of the estate or interest or lien of the mortgage as insured,
or which might cause loss or damage for which the Company
shall or may be liable by virtue of this policy, or if the Insured
shall in good faith contract to sell the indebtedness 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 mortgage covered
by this policy refuses to purchase and in any such event the title
to said estate or interest is rejected as unmarketable, the Insured
shall notify the Company thereof in writing.
If such notice shall not be given to the Company within ten
days of the receipt of process or pleadings or if the Insured shall
not, in writing, promptly notify the Company of any defect, lien
or encumbrance insured against which shall come to the knowl-
edge of the Insured, or if the Insured shall not, in writing,
promptly notify the Company of any such rejection by reason of
claimed unmarketability of title, then all liability of the Company
in regard to the subject matter of such action, proceeding or matter
shall cease and terminate; provided, however, that failure to notify
shall in no case prejudice the claim of any Insured unless the
Company shall be actually prejudiced by such failure and then
only to the extent of such prejudice.
(c) The Company shall have the right at its own cost to
institute and prosecute any action or proceeding or do any other
act which in its opinion may be necessary or desirable to estab-
lish the title of the estate or interest or the lien of the mortgage
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 permits or requires the
Company to prosecute or provide for the defense of any action
or proceeding, the Insured shall secure to it the right to so prose-
cute or provide defense 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 prosecuting or defending such
action or proceeding, and the Company shall reimburse the In-
sured 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 conclusive
bar against maintenance by the Insured of any action under this
policy.
b. Option to Pay, Settle or Compromise Claims
The Company shall have the option to pay or settle or com-
promise 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 purchase, payment
or tender of payment of 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
CONDITIONS AND STIPULATIONS (Continued on Reverse Side)
CONDITIONS AND. STIPULATIONS, Continued
given to the Company 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 here-
under to pay.
(b) The Company will pay, in addition to any loss insured
against by this policy, all costs imposed upon the Insured in litiga-
tion 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 (1) if the Company, after having received notice
of an alleged defect, lien, or encumbrance not excepted or ex-
cluded 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 jurisdiction
sustaining such rejection.
(d) All payments under this policy, except 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 endorsemetit of such payment unless the
policy be lost or destroyed, in which case proof of such loss or
destruction shall be furnished to the satisfaction of the Company;
provided, however, if the owner of an indebtedness secured by
a mortgage shown in Schedule B is an Insured herein, then such
payments 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 mortgage. Payment in full by any person or voluntary satis-
faction or release by the Insured of a mortgage covered by this
policy shall terminate all liability of the Company to the in-
sured owner of the indebtedness secured by such mortgage, ex-
cept as provided 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
payable 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 re-
ferred to in Schedule B hereof or any mortgage hereafter exe-
cuted 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 be deemed a payment 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 subrogation shall 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 property 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 Insured, such act shall not void this policy, but the
Company, in that event, shall be required to pay only that part
of any losses insured against hereunder which shall exceed the
amount, if any, lost to the Company by reason of the impairment
of the right of subrogation. The Insured, if requested 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 or litigation involving such
rights or remedies. ,
If the Insured is the owner of the indebtedness secured by a
mortgage covered by this policy, such Insured may release or
substitute the personal liability of any debtor or guarantor, or ex-
tend or otherwise modify the terms of payment, or release a por-
tion of the estate or interest from the lien of the mortgage, or
release any collateral security for the indebtedness, provided
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 title of the estate or interest insured herein must be 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 Assist-
ant Secretary or other validating officer of the Company.
11. Notices, where Sent
All notices required to be given the Company and any state-
ment in writing required to be furnished the Company shall be
addressed to it at III W. Washington Street, Chicago, Illinois
60602 or at any branch office of the Company shown on the
reverse side hereof.
12. Fee
The fee specified in Schedule A is the entire charge for title
search, title examination and title insurance.
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