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SCHEDULE B
<br />(B) Liens and encumbrances to which said title is subject shown in the order of their priority, and defects and other
<br />matters to which said title is subject:
<br />(lst) COUNTY OF ALAMEDA AND CITY OF SAN LEANDRO TAXES for
<br />the fiscal year 1942-43 (including any personal property taxes) are now
<br />a lien but are not yet determined as to amount.
<br />No examination has been made of corporate taxes of
<br />The Western Pacific Railroad Company, a corporation, for the current
<br />and/or preceding; taxable year.
<br />(2nd) BOND MORTGAGE executed by The Western Pacific
<br />Railroad Company, a corporation, to First Federal Trust Company, a cor-
<br />poration, and Henry E. Cooper, as trustees, dated June 26, 1916, re-
<br />corded July 17, 1916 in book 1124 of Mortgages at page 67; to secure
<br />the bonded indebtedness of the corporation mortgagor in the sum of
<br />$50,000,000.00, according to the terms of said instrument.
<br />Crocker First National Bank of San Francisco, a
<br />national banking association, and Samuel Armstrong are now the trus-
<br />tees thereunder.
<br />(3rd) 301,D 1:1013TGAGE executed by The Western Pacific
<br />Railroad Company, a corporation, to The Chase National Bank of the
<br />City of New York, a national banking association, dated January 1,
<br />1932, recorded March 15, 1932 in book 2792 O.R., page 101; to secure
<br />the bonded indebtedness of the corporation mortgagor in the sum not to
<br />exceed �,100,000,000.00, according to the terms of said instrument.
<br />Irving Trust Company, a corporation, is now the
<br />trustee thereunder.
<br />(4th) PROCEEDINGS initiated on August 2, 1935 in the
<br />United States District Court, Northern District of California, Southern
<br />Division, under Section 77 of the Bankruptcy Act, by Western Pacific
<br />Railroad Company, a corporation, case No. 26591. The proceedings had
<br />therein have not been examined by this company, but it is informed that
<br />T. Pd. Schumacher and Sidney M. Ehrman are now the trustees for the
<br />debtor corporation in said proceedings and are also the trustees for
<br />the holders of certain issues of certificates of indebtedness issued
<br />from time to time to defray current expenses, which certificates, by
<br />the terms of the orders authorizing them,are made liens on the property
<br />of said debtor.
<br />NOTE 1: The record discloses an instrument dated October 28,
<br />1941 executed by T. M. Schumacher and Sidney M. Ehrman as trustees of
<br />the property of The Western Pacific Railroad Company, a corporation,
<br />purporting, to grant to City of San Leandro, a municipal corporation,
<br />an easement for highway purposes over the land described in Schedule
<br />C. Said instrument was filed in the office of the County Recorder of
<br />Alameda County, State of California, on May 1, 1942 under Recorder's
<br />Series No. PP/21314, Alameda County Records.
<br />This policy does not insure the legal effect of said
<br />instrument but does insure the fact that at the time of recordation of
<br />said instrument title to the land described in Schedule C was vested of
<br />record as indicated in this Schedule B.
<br />NOTE 2: TAXES for the fiscal year 1941-42 (including any
<br />personal property taxes) are as follows:
<br />COUNTY OF ALAIIIEDA: 1st installment p 666.42 paid
<br />2nd installment r 476.77 paid
<br />(Affects other property also)
<br />Bill No. 174880
<br />CITY OF SAN LEANDRO: Not assessed
<br />Assessor's block No. 205
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