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HomeMy WebLinkAboutContracts & Agreements_84A-2014_CCv0001.pdf Commonwealth Land Title Company Commonweami 4100 Newport Place Drive,Suite 120 Newport Beach,CA 92660 LAN© TITLE COMPANY Phone: (949)724-3170 January 2, 2015 City Clerk's Office City of Redlands P.O. Box 3005 Redlands, California 92373 OUR NO.: 08022729 Property: 1601 & 1615 REDLANDS BOULEVARD, CITY OF REDLANDS, CA 92373 Policy No.: CA-SFXFC-IMP-81472-1-15-08022729 Dear Customer: Attached is your CLTA Standard Coverage Policy of Title Insurance, per your instructions. NOTE: Your policy is a computer generated product. Although lacking color and "live" signatures, it is the original of your policy. Thank you for selecting Commonwealth Land Title Company for your transactional management needs. Enclosure 81472 CLTA Standard Coverage-1990(04-08-14) _ Page 1 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Commonwealth Land Title Company Commonweaiw 4100 Newport Place Drive, Suite 120 Newport Beach,CA 92660 LAND TITLE COMPANY Phone: (949)724-3170 Commonwealth Land Title Insurance Company p y POLICY NO.: CA-SFXFC-IMP-81472-1-15-08022729 POUCY ®Jor T= INSURANCE Issued by Commonwealth Land Title Insurance Company SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Nebraska corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A,sustained or incurred by the insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Unmarketability of the title; 4. Lack of right of access to and from the land; and in addition,as to an insured lender only: 5. The invalidity or unenforceability of the lien of the insured mortgage upon the title; 6. The priority of any lien or encumbrance over the lien of the insured mortgage, said mortgage being shown in Schedule B in the order of its priority; 7. The invalidity or unenforceability of any assignment of the insured mortgage, provided the assignment is shown in Schedule B, or the failure of the assignment shown in Schedule B to vest title to the insured mortgage in the named insured assignee free and clear of all liens. The Company will also pay the costs,attorneys' fees and expenses incurred in defense of the title or the lien of the insured mortgage, as insured,but only to the extent provided in the Conditions and Stipulations. Commonwealth Land Title Insurance Company Countersigned by: aY /►� � ,,vy/�l•— - � n/ �, ATIFST Authorized Signature Authorized Signature 81472 CLIA Standard Coverage—1990(04-08-14) Page 2 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No.CA-SFXFC-IMP-81472-1-15-08022729 EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys`fees are expenses which arise by reason of: I. (a) Any law,ordinance or governmental regulations(including but not limited to building or zoning laws, ordinances,or regulations)restricting,regulating,prohibiting or relating to(i)the occupancy,use, or enjoyment of the land; (ii)the character, dimensions or Iocation of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or(iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by(a) above,except to the extent that a notice of the exercise thereof or a notice of a defect,lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects,liens,encumbrances,adverse claims or other matters: (a) whether or not recorded in the public records at Date of Policy, but created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy,but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy;or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the insured mortgage or for the estate or interest insured by this policy. 4. Unenforceability of the lien of the insured mortgage because of the inability or failure of the insured at Date of Policy,or the inability or failure of any subsequent owner of the indebtedness, to comply with the applicable doing business laws of the state in which the Iand is situated. 5. Invalidity or unenforceability of the lien of the insured mortgage, or claim thereof, which arises out of the transaction evidenced by the insured mortgage and is based upon usury or any consumer credit protection or truth in lending law. 6. Any claim, which arises out of the transaction vesting in the insured the estate of interest insured by this policy or the transaction creating the interest of the insured lender, by reason of the operation of federal bankruptcy, state insolvency or similar creditors'rights laws. 81472 CLTA Standard Coverage— 1990(04-08-14) Page 3 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81472-1-15-08022729 CONDITIONS AND STIPULATIONS 1.- Definition of Terms. policy shall not continue in force in favor of any'purchaserfrom an insured of The following terms when used in this policy mean:: either(i)_an`estate or interest in the land, or(ii)an indebtedness secured by a (a) "insured":the insured named in Schedule A,and,subject to any rights purchase money mortgage given to an insured. or defenses the Company would have had against the named insured,those who (c) Amount of Insurance.The amount of insurance alter the,acquisition succeed to the interest of the named insured'by-operation of law as distinguished' or after the conveyance by an insured lender shall in neither event exceed the from purchase including, but not limited to, heirs, distributees, devisees, least of. survivors, personal representatives, next of kin, or corporate or fiduciary (i) The amount of insurance stated in Schedule A successors. The term"insured" includes: (ii) The amount of Elie principal of the indebtedness secured by the (i) the owner of the indebtedness secured by the insured;mortgage insured mortgage as of Date of Policy,interest thereon,expenses of foreclosure, and each successor in ownership of the indebtedness except a successor who is an amounts advanced pursuant to the insured mortgage to assure compliance with obligor under the provisions of Section 12(c)of these Conditions and Stipulations laws or to protect the lien of the insured mortgage prior to the time of acquisition (reserving,however,all rights and defenses as to any successor that the Company of the estate or interest in the land and secured thereby and reasonable amounts would have had against any predecessor insured,unless the successor acquired expended to prevent deterioration of improvements,but reduced by the amount of the indebtedness as a purchaser for value without knowledge of the asserted all payments made;or defect, lien,encumbrance, adverse;claim or other matter insured against by this (iii) The amount paid by an governmental agency or governmental policy as affecting title to the estate or interest in the land); instrumentality,if the agency or the instrumentality is the insured claimant,in the (ii) any governmental agency or governmental instrumentality acquisition of the estate or interest in satisfaction of its insurance contract or which is an insurer or guarantor under an insurance contract or guaranty insuring guaranty. or guaranteeing the indebtedness secured by the insured mortgage, or any part 3. Notice of Claim to be Given by insured Claimant. thereof,whether named as an insured herein or not An insured shall notify the Company promptly in writing(i)in case of any (iii) thepartiesdesignated in Section 2(a) of these Conditions and litigationas set forth in 4(a) below, (ii) in case;knowledge shall come to an Stipulations. insured hereunder of any claim of title or interest which is adverse to the title to (iv) Subject to any rights or defenses the Company would have had the estate or interest or the lien of the insured mortgage,as insured,and which against the named insured,A)the spouse of an insured who receives title to the might cause loss or damage for which the Company may be liable by virtue of land because of dissolution of marriage, B)the trustee or successor trustee of a this policy, or (iii) if title to the estate:or interest or the lien of the insured trust or any estate planning entity created for the insured to whom or to which the mortgage,as insured, is rejected:as unmarketable.If prompt notice shall not be insured transfers title to the land after the Date of Policy or C)the beneficiaries of given to the Company,then as to that insured all liability of the Company shall such a trustuponthe death of the insured. terminate with regard to the matter or matters for which prompt notice is (b) "insured claimant":an insured claiming loss or damage. required;provided,however,that failure to notify the Company shall in no case (c) "insured lender":the owner of an insured mortgage. prejudice the rights of any insured under this policy unless the Company shall be (d) "insured mortgage": a mortgage shown in Schedule B, the owner of prejudiced by the failure and then only to the extent of the prejudice which is named as an insured in Schedule A. 4. Defense and Prosecution of Actions; Duty of Insured Claimant to (e) "knowledge" or "known": actual knowledge, not constructive Cooperate. knowledge or notice which maybe imputed to an insured by reason of the public (a) Upon written request by an insured and subject to the options records as defined in this policy or any other records which impart constructive contained in Section 6 of these Conditions and Stipulations,the Company,at its notice of matters affecting the land. own cost and without unreasonable delay,shall provide for the defense of such (f) "land": the land described or referred to in Schedule A, and insured in litigation in which any third party asserts a claim adverse to the title or improvements affixed thereto-which by law constitute real property.The term, interest as insured,but only as to those stated causes of action alleging a defect, "land"does not include,any property beyond the lines of the area described or lien or encumbrance or other matter insured,against by this policy.The Company referred to in Schedule A, nor any right; title, interest, estate or easement in shall have the right to=select-counsel of its choice(subject to the right of such abutting streets„roads,,avenues,,alleys,Janes,ways or waterways,but nothing insured to object for reasonable cause)to represent the insured as to those stated herein shall modify or limit the extent to which a right of access to and from the causes of action and shall not beliable for and will not pay the fees of any other land is insured by this policy. counsel. The company will not pay any fees,costs or expenses incurred by an (g) "mortgage': mortgage,:deed of trust, trust deed, or other security insured in the defense of those causes of action which allege matters not insured instrument, against by this policy. (h) "public records": records established under state statutes at Date of (b) The Company shall have the right, at its own cost, to institute and Policy for the purpose of imparting constructive notice of matters relating to real prosecute any action or proceeding or to do any other art which in its opinion property to purchasers for value and without knowledge. may be necessary or desirable to establishthe title to the estate or interest orthe (i)' "unmarketability of the title"an alleged or apparent matter affecting lien of the insured mortgage,as insured,or to prevent or reduce loss or damage to the title to the land,not excluded or excepted from coverage,which would entitle an rinsured. The Company may take any appropriate action under[lie terms of a purchaser of the estate or interest described in Schedule A or the insured this policy, whether or not it shall be liable hereunder,and shall not thereby mortgage to be released from tate obligation to purchase by virtue of a contractual concede liability or waive any provision of this policy. if the Company shall condition requiring the delivery of marketable title. exercise its rights under this paragraph,it shall do so diligently. 2. Continuation of Insurance (c) Whenever the Company shall have brought an action or interposed a (a) After Acquisition of Title by Insured Lender.if this policy insures the defense as required orpermitted"by the provisions of this policy, the Company owner of the indebtedness secured by the insured mortgage,the coverage of this may pursue any litigation to final determination by a court of competent policy shall continue in force as of Date of Policy in favor of(i) such insured jurisdiction and expressly reserves the right,in its sole discretion,to appeal from lender who acquires all or any part of the estate or interest in the land by any adverse judgment or order. foreclosure, trustee's sale, conveyance in lieu of foreclosure, or other legal (d) In all cases where this policy permits or requires the Company to manner which discharges the lien of the insured mortgage; (ii)a transferee of the prosecute or provide for the defense of any action or proceeding,an insured shall estate or interest so acquired from an insured corporation,provided the transferee secure to the Company the right to so prosecute or provide defense in the action is the parent or wholly-owned subsidiary of the insured corporation, and their or proceeding, and all appeals therein, and permit the Company to use,at its corporate successors by operation of law and not by purchase, subject to any option, die name of such insured for this purpose. Whenever requested by the rights or defenses the Company may have;against any predecessor insureds;and Company, an insured, at the,Company's expense, shall give the Company all (iii)any governmental agency or governmental instrumentality which acquires all reasonable aid (i) in:any action or proceeding, securing evidence, obtaining or any part of the estate or interest pursuant to a contract of insurance or guaranty witnesses, prosecuting or defending the action or proceeding, or effecting insuring or guaranteeing the indebtedness secured by the insured mortgage. settlement,and(ii)in any other lawful act which in the opinion of the Company (b) After Conveyance of Title by an Insured.'fhe coverage of this policy may be necessary or desirable to establish the title to the estate or interest or the shall continue in force as of Date of Policy in favor of an insured only so longus lien of the insured mortgage, as insured. If the Company is prejudiced by the the insured;retains an estate or interest in the land, or holds an indebtedness failure of an ;;insured to furnish the required cooperation, the Company's secured by a purchase money mortgage given by a purchaser from the insured,or obligations to such insured under the policy shall terminate, including any only so long as the insured shall have liabilityby reason of covenants of warranty liability or obligation to defend,prosecute,or continue any litigation,with regard made by the insured in any transferor conveyance of the estate or interest.This to the matter or matters requiring such cooperation. 81472 CLTA Standard Coverage— 1990(04-08-14) Page 4 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No.: 08022729-920-CMM-CM8 Policy No.: CA-SFXFC-IMP-81472-1-15=08022729 S. Proof of Loss or Damage. policy for the claimed loss or damage, other than the payments required to be In addition to and after the notices required under Section 3 of these made,shall terminate,including any liability or obligation to defend,prosecute or Conditions and Stipulations have been provided the Company,a proof of loss or continue any litigation. damage signed)and sworn to by each insured claimant shall be furnished to the 7. Determination and Extent of Liability. Company within 90 days after the insured claimant shall ascertain the facts giving This policy is a contract of indemnity against actual monetary loss or rise to:the loss or damage.The proof of loss or damage shall describe the defect damage sustained or incurred by the insured claimant who has suffered loss or in,or lien or encumbrance on the title,or other matter insured against by this damage by reason of matters insured against by this policy and only to the extent policy which constitutes'the basis of loss or damage and shall state,to the extent herein described. possible, the basis of calculating the amount of the loss or damage. If the (a) The liability of the Company under this policy;to an insured lender Company is<prejudiced by the failure of an insured claimant to provide the shall not exceed the least oF. required proof of loss or damage, the Company's obligations to such insured (i) the Amount of Insurance stated in Schedule A;or,if applicable, under the policy shall terminate,including any liability or obligation to defend, the amount of insurance as defined-in Section 2 (c) of these Conditions and prosecute, or continue any litigation, with regard,to the matter or matters Stipulations; requiring such proof of loss or damage. (ii) the amount of the unpaid principal indebtedness secured by the in addition, an insured`claimant may reasonably be required tosubmitto insured mortgage as limited or provided under Section 8 of these Conditions and examination under oath by any authorized representative of the Company and Stipulations or as reduced under Section 9 of these Conditions and Stipulations, shall produce for examination,inspection and copying,at such reasonable times at the time the loss or damage insured against by this policy occurs,together with and places as may be designated by any authorized representative of the interest thereon;or Company, all records, books, ledgers, checks,correspondence and memoranda, (iii)' the difference between the value of the insured estate or interest whether bearing a date before or after Date of Policy,which reasonably pertain to as insured and the value of the insured estate or interest subject to the defect,lien the loss or damage.Further, if requested by any authorized representative of the or encumbrance insured against by this policy. Company, the insured claimant shall grant-its`permission, in writing, for any (b) In the event the insured lender has acquired the estate or interest in authorized representative of tate Company to examine, inspect and copy,all manner described in Section 2(a) of these Conditions and Stipulations or has records,books,ledgers,checks,correspondence and memoranda inthe custody or conveyed the title,then the liability of the Company shall continue as set forth in control of a third party, which-reasonably pertain to the loss or damage, All, Section 7(a)of these Conditions and Stipulations. information designated as confidential by an insured claimant provided to the (c) The liability of the Company under this policy to an insured owner of Company pursuant to this Section shall not be disclosed to others unless, in the the estate or interest in the land described in Schedule A shall not exceed the least reasonable judgment of the Company,it is necessary in the administration of the of: claim. Failure of an insured claimant to submit;for examination under oath, (i) the Amount of Insurance stated in Schedule A;or, produce other reasonably requested information or,grant permission to secure (ii) the difference between the value of the insured estate or interest reasonably necessary information from third parties as required in this paragraph, as insured and the value of the insured'estate or interest subject to the defect,lien unless prohibited by law or govemmental regulation,shall terminate any liability or encumbrance insured against by-this'policy. of the Company under this policy as to that insured for that claim. (d) The Company will pay only those costs,attorneys'fees and expenses 6. Options to Pay or Otherwise Settle Claims;Termination of Liability. incurred inaccordancewith Section 4 of these Conditions and Stipulations. In case of claim under this policy,the Company shall have the following: S. Limitation of Liability. additional options: (a) If the Company establishes the=title,-or removes the alleged defect, (a) To Pay or Tender Payment of the 7Amount of Insurance or to Purchase lienor encumbrance,or cures the lack of a right of access to or from the land,or the Indebtedness. cures the claim of unmarketability of title,or otherwise establishes the lien of the (i) to pay or tender payment of the amount of insurance;under this insured mortgage,all as insured,,in a reasonably diligent manner by any method, policy together with any costs, attorneys'`fees and expenses incurred by the including litigation and the completion of any appeals therefrom, it shall have insured-claimant, which were authorized by the Company, up to the time of fully performed its obligations with respect to that matter and shall not be liable payment or tender of payment and which the Company is obligated to pay;or for any loss or damage caused thereby. (ii) in case loss or damage is claimed under this policy by the owner (b) In the event of any litigation,including litigation by the Company or of the indebtedness -secured by the insured mortgage, to purchase the with the Company's consent, the Company shall have no liability for loss or indebtedness secured by the insured mortgage for the amount owning thereon damage until there has been a final determination by a court of competent together with any costs;attorneys' fees and expenses incurred by the insured jurisdiction,and disposition of all appeals therefrom, adverse to the title,or, if claimant which were authorized;by the Company up to the time of purchase and applicable,to the lien of the insured mortgage,as insured. which the Company is obligated to pay:, (c) The Company shall not be liable for loss or damage to any`insured-for If the Company offers to;purchase the indebtedness as herein provided,the liability voluntarily assumed by the insured in settling any claim or suit without owner of the indebtedness shall transfer,assign,and convey the indebtedness and the prior written consent of the Company. the insured mortgage,together with any collateral security,to the Company upon (d) The Company shall not be liable to an insured lender for: (i) any payment therefor. indebtedness created subsequent to Date of Policy except for advances made to Upon the exercise by the Company of the option provided for in paragraph protect the lien of the insured mortgage and secured thereby and reasonable a(i), all liability and obligations to the insured under this policy, other than to amounts expended to;prevent deterioration of improvements;or(ii)construction make the payment required in that paragraph,shall terminate, including any loan advances made subsequent to Date of Policy, except,construction loan liability or obligation to defend, prosecute,or continue any litigation, and the advances made subsequent to Date of Policy for the purpose of financing in policy shall be surrendered to the Company for cancellation. whole or in part the construction of an improvement to the land which at Date of Upon the exercise by the Company of the option provided for in paragraph Policy were secured by the insured mortgage and which the insured was and a(ii) the Company's obligation to an insured Lender under this policy for the continued to be obligated to advance at and after Date of Policy. claimed loss or damage, other than the payment required,to be made,shall 9. Reduction of Insurance; Reduction or Termination of Liability. terminate, including any liability or obligation to defend,prosecute or continue (a) All payments under this policy, except payments made for costs, any litigation. attorneys' fees and expenses, shall reduce the amount of insurance pro tanto. (b) To Pay or Otherwise Settle with Parties Other than the Insured or However,as to aninsuredlender,any payments made prior to the acquisition of With the Insured Claimant. title to the estate or interest as provided in Section 2(a)of these Conditions and (i) to pay or otherwise settle with other parties for orinthe,name of Stipulations shall not reduce pro tanto the amount of insurance afforded under an insured claimant any claim insured against under this policy,together with any this policy as to,any such insured,except to the extent that the payments reduce costs,attorneys'fees and expenses`incurred by the insured claimant which were the amount of the indebtedness secured by the insured mortgage. authorized by;the Company up to the time of payment and which the Company is (b) Payment in part by any person ofthe principal of the indebtedness,or obligated to pay;or any other obligation secured by the insured mortgage, or any voluntary partial (ii) to pay or otherwise settle with the insured claimant the loss or satisfaction or release of the insured mortgage, to the extent of the payment, damage provided for under this policy, together with any costs,attorneys' fees satisfaction or release, shall reduce the amount ofinsurance pro tanto. The and expenses incurred`by the insured claimant which were authorized by the amount of insurance may thereafter be increased by accruing interest_and Company up to the time of payment and which the Company is obligated to pay. advances made to protect the lien of the insured mortgage and secured thereby, Upon the exercise by the Company of either of the options provided for in with interest thereon, provided in no event shall the amount of insurance be paragraphs b(i) or b(ii), the Company's obligations to the insured under this greater than the Amount of Insurance stated-in Schedule A. 81472 CLTA Standard Coverage—1990(04-08-14) Page 5 California Land Title Association,All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express oermission from the California Land Title Association. Order N6.: 08022729-920-CMM-CM8 Policy No.: .CA-SFXFC-TMP-81472-1-15-08022729 (c) Payment in full by any person or the voluntary satisfaction or release by reason of the impairment by the insured claimant of the Company's right of of the insured mortgage shall terminate all liability of the Company to an insured subrogation, lender except as provided in Section 2(a)of these Conditions and Stipulations. (c) The Company's Rights Against Non-insured Obligors. 10. Liability[Noncumulative. The Company's right of subrogation against non-insured obligors shall exist It is expressly understood that the amount of insurance under this policy and shall include, without limitation, the rights of the insured to indemnities, shall be reduced by any amount the Company may pay under any policy insuring guaranties, other policies of insurance or bonds, notwithstanding any terms or a mortgage to which exception is`taken in Schedule B or to which the insured has conditions contained in those instruments which provide for subrogation rights by agreed,assumed,or taken subject,or which is hereaRer executed by an insured reason of this policy. and which is a charge or lien on:the estate or interest described or referred to in The Company's right of subrogation shall not avoided by acquisition of Schedule A,and the amount so paid shall be deemed a payment under this policy an insured mortgage by an obligor(except an obligor described in Section t(a)(ii) to the insured owner. of these Conditions and Stipulations) who acquires the insured mortgage as:a The provisions of this Section shall not apply to an insured lender,unless result of an indemnity, guarantee, other policy of insurance, or bond and the such insured acquires title to said estate or interest in satisfaction of the obligor will not be an insured under this policy,notwithstanding Section 1(a)(i) indebtedness secured by an insured;mortgage. of these Conditions and Stipulations. I1. Paymentof Loss. 13. Arbitration. (a) No payment shall be made without producing this 'policy for Unless prohibited by applicable law,either the Company or the insured may endorsement of thepaymentunless:the policy has been lost or destroyed, in demand arbitration pursuant to the Title Insurance Arbitration Rules of the which case proof of loss or destruction shall be furnished to the satisfaction of the American Arbitration Association. Arbitrable matters may include, but are not Company. limited to, any controversy or claim between the Company and the insured (b) When liability and the extent of loss or damage has been definitely arising out of or relating to this policy,any service of the Company in connection fixed in accordance with theseConditions and Stipulations,the loss or damage with its issuance or the breach of a policy provision or other obligation. All shall be payable within 30 days thereafter, arbitrable,matters when the Amount of Insurance is S1,000,000 or less shall be 12. Subrogation Upon Payment or Settlement. arbitrated at the option of either the Company or the insured. All arbitrable (a) The Company's Right of Subrogation matters when the Amount of Insurance is in excess of S1,000,000 shall be Whenever the Company shall have settled and paid a claim under this arbitrated only when agreed to by both the Company and the insured.Arbitration policy,all right of subrogation shall vest in the Company unaffected by any act of pursuant to this policy and under the Rules in effect on the date the demand for the insured claimant. arbitration is made or,at the option of the insured,the Rules in effect at Date of The Company shall be subrogated to and be entitled to all rights and Policy shall be binding upon'the parties.The award may include attorneys'fees remedies which the insured,claimant would have had against any person or only if the laws of the state in which the land is located permit a court to award property in respect to the claim had this policy not been issued. If requested by attorneys' fees to a prevailing party.Judgment upon the award rendered by the the'Company,the insured claimant shall transfer to the Company all rights and Arbitrators)maybe entered in any court having jurisdiction thereof. remedies against any person or property necessary in order to perfect this right of The law of the situs of the land shall apply to an arbitration under the Title subrogation. The insured claimant shall permit the Company to sue,compromise Insurance Arbitration Rules. or settle in the name of the insured claimant and to use the name of the insured A copy of the Rules may be obtained from the Company upon request. claimant in any transaction or litigation involving these rights or remedies. 14. Liability Limited to This Policy;Policy Entire Contract. If a payment on account of a claim does not fully cover the loss of the (a) This policy together with all endorsements,if any,attached hereto by insured claimant,the Company shall be subrogated(i)as to an insured owner,to the Company is the,entire policy and contract between Lire'insured and the all rights and remedies in the proportion which the Company's payment bears to Company. In interpreting any provision of this policy, this policy shall be the whole amount of the loss;" and(ii)as to an insured lender,to all rights and construed as a whole. remedies of the insured claimant after the insured claimant shall have recovered (b) Any claim of loss or damage,whether or not based on negligence,and its principal;interest,and costs of collection. which arises out of the status of the lien of the insured mortgage or of the title to If loss should result from any act of the insured claimant,as stated above, the estate or interest covered hereby or by any action asserting such claim,shall that act shall not void this policy, but the Company, in that event, shall be be restricted to this policy. required to pay only that part of any losses insured against by this policy which (c) No amendment of or endorsement to this policy can be made except shall exceed the amount,if any,lost to the Company by reason of the impairment by a'writing endorsed hereon or attached hereto signed by either the President,a by the insured claimant of the Company's fight of subrogation. Vice President,the Secretary, an Assistant Secretary, or validating officer or (b) The Insured's Rights and Limitations. authorized signatory of the Company. Notwithstanding the foregoing,the owner of the indebtedness secured by an 15.- Severability. insured mortgage,provided the priority of the lien of the insured mortgage or its In the event any provision of the policy is held invalid or unenforceable enforceability is not affected, may release or substitute the personal liability of under applicable law,the policy shall be deemed not to include that provision and any debtor or guarantor,or extend or otherwise modify the terms of payment,or all other;provisions shall remain in full force and effect. release a portion of the estate or interest from the lien of the insured mortgage,or 16. Notices,Where Sent. release any collateral security for the indebtedness. All notices required to be given the Company and any statement in writing When the permittedacts of the insured claimant occur and the insured has required to be furnished the Company shall include tate number of thispolicy;and knowledge of any claim of title or interest adverse to the title to the estate or shall be addressed to the Company at Commonwealth Land Title Insurance interest or the priority or enforceability of the lien of an insured mortgage,as Company,Attn: Claims Department,P.O. Box 45023; Jacksonville,FL 32232- insured,the Company shall be required to pay only that part of any losses insured 5023. against by this policy which shall exceed the amount,if any,lost to the Company 81472 CLTA Standard Coverage—1990(04-08-14) Page 6 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express oermission from the California Land Title Association. Order No. 08022729-920-CMM-CM 8 Policy No.CA-SFXFC-IMP-81472-1-15-08022729 CLTA Standard Coverage 1990 - (04-08-14) SCHEDULE A Order No.: 08022729-920-CMM-CM8 Policy No.: CA-SFXFC-IMP-81472-1-15-08022729 Amount of Insurance: $187,435.00 Premium: $928.00 Date of Policy: July 21, 2014 at 10:31 a.m. 1. Name of Insured: City of Redlands, a municipal corporation 2. The estate or interest in the land which is covered by this policy is: Permanent and exclusive easements and rights of way over the land described in Exhibit "A" in Schedule A herein and as described and shown in that certain "Grant of Roadway Easement" recorded July 21, 2014 as Instrument Nos. 2014-0262604 and 2014-0262606, Official Records. 3. Title to the estate or interest in the land is vested in: City of Redlands, a municipal corporation 4. The land referred to in this policy is described as follows: See Exhibit A attached hereto and made a part hereof. 81472 CLTA Standard Coverage- 1990(04-08-14) _Page 7 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No.CA-SFXFC-IMP-81472-1-15-08022729 EXHIBIT A LEGAL DESCRIPTION Parcel 1: The northerly 10 .00 feet of that portion of the Northeast quarter of Block 12, Barton Ranch, in the City of Redlands, County of San Bernardino, State of California, per map recorded in Book 6, Page 19 of Maps in the office of the County Recorder of said County, described in a Grant Deed to Redlands 7/11 Associates recorded December 10, 1998 as Instrument No. 1998-0524936 of Official Records in the office of the County Recorder of said county. The above-describe d parcel of land contains approximately 1,320 square feet. As more particularly shown on Exhibit "B" attached hereto and made a part hereof. Parcel 2: That portion of the Northeast quarter of Block 12, Barton Ranch, in the City of Redlands, County of San Bernardino, State of California, per map recorded in Book 6, Page 19 of Maps in the office of the County Recorder of said County, described as Parcels 1 and 2 in a Quitclaim Deed recorded August 4, 1987 as Instrument No. 87-269823 of Official Records in the office of the County Recorder of said county, lying northerly, northeasterly and easterly of the following described line: Commencing at the centerline intersection of Redlands Boulevard and Alabama Street as shown on Parcel Map No. 2863 recorded in Book 30, pages 68 and 69 of Parcel Maps in the office of the County Recorder of said County; thence along said centerline of Redlands Boulevard as shown on said Parcel Map, North 88043'40" West, 133.00 feet to the northerly prolongation of the west line of Parcel 1 of the land described in said deed; thence along said prolongation, South 00000'00" West, 41.25 feet to the northwest corner of said Parcel 1; thence along the west line of said Parcel 1, South 00000'00" West, 18.75 feet to the TRUE POINT OF BEGINNING, said point being on a line that is parallel with and 60.00 feet south of said centerline of Redlands Boulevard as shown on said Parcel Map ; thence along said parallel line, South 88 043'40" East; 73 .19 feet; thence South 441121 '52" East, 14.01 feet to a line that is parallel with and 50 .00 feet west of said centerline of Alabama Street as shown on said Parcel Map; thence along said parallel line, South 00000'00" West, 121.45 feet to the south line of Parcel 2 of the land described in said deed. The above-described parcel of land contains approximately 2,795 square feet. As more particularly shown on Exhibit "B" attached hereto and made a part hereof. APN: 0292-157-05; 06 &31 81472 CLTA Standard Coverage- 1990(0408-14) _ Page 8 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No.CA-SFXFC-IMP-81472-1-15-08022729 SCHEDULE B EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of: PART I 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. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings, whether or not shown by the records of such agency 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 the land or which may be asserted by persons in possession thereof. 3. Easements, liens or encumbrances, or claims thereof, 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. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof; (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b) or (c) are shown by the public records. 6. Any lien or right to a lien for services, labor or material not shown by the public records. 81472 CLIA Standard Coverage—1990(04-08-14) _ Page 9 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81472-1-15-08022729 SCHEDULE B EXCEPTIONS FROM COVERAGE PART II 1. Water rights, claims or title to water, whether or not disclosed by the public records. 2. Easement(s) for the purpose(s) shown below and rights incidental thereto as reserved in a document; Reserved by: Barton Land and Water Company and its assigns Purpose: distribution of water - pipelines Recording Date: May 14, 1895 Recording No: In Book 213, Page 203 of Deeds Reference is hereby made to said document for full particulars. 3. Covenants, conditions and restrictions but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, source of income, gender, gender identity, gender expression, medical condition or genetic information, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth in the document Recording No: In Book 32, Page 166 of Official Records Said covenants, conditions and restrictions provide that a violation thereof shall not defeat the lien of any mortgage or deed of trust made in good faith and for value. 4. Easement(s) for the purpose(s) shown below and rights incidental thereto as set forth in a document: Purpose: pipelines Recording No: In Book 185, Page 291 of Official Records Reference is hereby made to said document for full particulars. 5. The Land described herein is included within a project area of the Redevelopment Agency shown below, and that proceedings for the redevelopment of said project have been instituted under the Redevelopment Law (such redevelopment to proceed only after the adoption of the Redevelopment Plan) as disclosed by a document. Redevelopment Agency: City of Redlands Recording Date: November 9, 1972 Recording No: In Book 8057, Page 789 of Official Records 6. An irrevocable offer to dedicate an easement over a portion of said Land for Purpose(s): public road Recording Date: March 15, 1978 Recording No: In Book 9389, Page 1401 of Official Records Affects: said land more particularly described therein. Affects: Parcels 1 and 2 81472 CLTA Standard Coverage—1990(04-08-14) Pae 10 ©California Land Title Association.Ail rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express pemrission from the California Land Title Association. Order No.: 08022729-920-CMM-CMS Policy No.: CA-SFXFC-IMP-81472-1-15-08022729 SCHEDULE B - Part II (Continued) 7. Matters contained in that certain document Entitled: Lien Agreement to Secure Construction of Public Improvements Dated: October 13, 1987 Executed by: City of Redlands, a municipal corporation and Redlands 7-11 Associates Recording Date: December 10, 1987 Recording No: as Instrument No. 87-434240 of Official Records Reference is hereby made to said document for full particulars. Affects: Parcels 1 and 2 8. Easement(s) for the purpose(s) shown below and rights incidental thereto, as granted in a document: Granted to: Southern California Edison Company, a Corporation Purpose: utilities Recording Date: September 29, 1988 Recording No: as Instrument No. 88-326955 of Official Records Reference is hereby made to said document for full particulars. Note: Said Easement Agreement was amended by Agreement recorded February 20, 1990 as Instrument No. 90-066210 of Official Records. Affects: Parcel 3 9. Matters contained in that certain document Entitled: Easement Agreement Dated: April 27, 1989 Executed by: Redlands Shopping Center Associates, a California General Partnership and Redlands 7/11 Associates, a California General Partnership Recording Date: May 3, 1989 Recording No: as Instrument No. 89-158359 of Official Records Reference is hereby made to said document for full particulars. The matters contained in a document entitled "f=irst Amendment to Easement Agreement" recorded February 20, 1990 as Instrument No. 90-066210 of Official Records. Reference is made to said document for full particulars. Affects: Parcels 1 and 2 10. Covenants, conditions and restrictions but omitting any covenants or restrictions, if any, including but not limited to those based upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, source of income, gender, gender identity, gender expression, medical condition or genetic information, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law, as set forth in the document Recording Date: February 20, 1990 Recording No: as Instrument No. 90-066212 of Official Records Said covenants, conditions and restrictions provide that a violation thereof shall not defeat the lien of any mortgage or deed of trust made in good faith and for value. 81472 CLTA Standard Coverage-1990(04-08-14) Page l l ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No.: 08022729-920-CMM-CM8 Policy No.: CA-SFXFC-IMP-81472-1-15-08022729 SCHEDULE B - Part 11 (Continued) Affects: Parcel 3 11. An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein as disclosed by the document Entitled: Assignment and Assumption Agreement Lessor: Robert S. Beylik Lessee: Faiz Baig and Zubeda Faizi; Banner Bedding, Inc.; Neu-Visions Sports, Inc. Recording Date: December 10, 1998 Recording No: as Instrument No. 524937 of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. Affects: Parcel 3 12. A sublease with certain terms, covenants, conditions and provisions set forth therein. Lessor: Redlands 7/11 Associates, a California General Partnership Lessee: 7-Eleven, Inc., a Texas corporation Recording Date: January 12, 2010 Recording No: as Instrument No. 2010-0013203 of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. Affects: The herein described Land and other land. Affects: Parcels 1 and 2 13. An unrecorded lease with certain terms, covenants, conditions and provisions set forth therein as disclosed by the document Entitled: Notice of Non-Responsibility Lessor: Redlands 7-11 Associates Lessee: AAA Gold Exchange Recording Date: April 4, 2011 Recording No: as Instrument No. 2011-0133281 of Official Records The present ownership of the leasehold created by said lease and other matters affecting the interest of the lessee are not shown herein. Affects: Parcel 3 81472 CLIA Standard Coverage— 1990(04-08-14) Page 12 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. , Order No. 08022729-920-CMM-CM8 Policy No. CA-SFXFC-IMP-81472-1-15-08022729 REDLANDS BOULEVARD ----- ------ --------- -------- — — ----------------------------�— — i 0 0 o N i I I I I i I 413.00' I G[Z APN x7.292-157-3i I w O.R. 1998--0524936 j l � BARTON RANCH i � BLOCK 12 i M.B. 6 / 19 ! l i I I PARCEL MAP NO. 2863 ONyp o P.M.B. 30168-69 FL iAr kis o�G ao ALEN �p PARCEL EL 1 K ®INDICATES ROADWAY EASEMENT TO 6E ACQUIRED �l°�£or C ALt4p��,P AREA = 1,320 SIT -� EXHIBIT(Bi T "g„ REDLANDS BLVD. Attu ALABAMA S7. IMP PROJECT SHEET: 1 OF t ~ � APN 0232-157-31 DATE:6/3/13 SKETCH TO ACCOMPANY CITY OF REDLANDS DRAM BY: TLK COUNTY OF SAN BERNARDINO LEGAL DESCRIPTION STATE OF CALIFORNIA SCALE:1"=40' 81472 CLTA Standard Coverage-- 1990(04-08-14) Page 13 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association. Order No. 08022729-920-CMM-CM8 Policy No.CA-SFXFC-IMP-81472-1-15-08022729 REDLANDS BOULEVARD -------------- - --- .- -- - -- -- - ---- N8843' _ - O P.Q.C. I CN 00 0 j V) o 1 �0 I I S00600' 0011W I 18,75' E I T'P'0'B' 73. 19'S88° 43' 40"E E S44°21 '52"E LU of w o � APN 0292-157-05 0! 11'1 0 4 0� � BARTON RANCH N 50.00' Z, _---.--------------------- I �c BLOCK 12 — I o I � I � M. B. 6 19 0 40.00' l o j APN 0.292-157-06 I _ I i PARCEL MAP NO. 2863 04�5�0�'� P.M.B. 30/68--69 a� TPR XREN �o PARCEL 1 No.8746 ® INDICATES ROADWAY EASEMENT TO BE ACQUIRED sr�rfOF CAL�Fo4�`P AREA = 2,795 SF EXHIBIT H i 81 T �*B*� ABA REDLANDS BLVD. AND AtABAAIA $T, IMP PROJECT SHEET: I OF 1 ^ APN` 0292-157-05 do 06 DATE:6/5/13 5KE1C}i TO ACCOMPANY CITY OF REDLANDS DRANK BY: TLx COUNTY OF SAN BERNARDINO — ,�'. otic 1 aYL►timra ),ul LEGAL DESCRIPTION STATE OF CALIFORNIA SCALE:I"=30' 81472 CLTA Standard Coverage—1990(04-08-14) Page 14 ©California Land Title Association.All rights reserved. The use of this Form is restricted to CLTA subscribers in good standing as of the date of use.All other uses are prohibited.Reprinted under license or express permission from the California Land Title Association.