HomeMy WebLinkAbout2338 _ . _ . . . _ l
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~ SUBORDINATIOdV AGR88MBNiT 1
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THIS AiGRBBM BNI'. mede thiB 26th day oi F_ebruar~r~.._. ~ ~
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19 64 , betr~eea W. T. Piowaty, d/b/a Service MortQaste Co. , ~
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part~ of t6e first part, aud F1RST FSDBRAL SAVINGS AND LOAN
ASSOCIATIt1N C~F INDIAN R1VBR COUNTY. a corp~ratio~ u~der the lawe
ot the Uaited Staaes, p~arty ot d~e second part, WITNBSSBTH:
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WHBRBAS. W,~ H. Ba~ett and Evelyn D. Ba tt, his wife,
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~ . execuoed a mortga~ge to t6e part~ of d~e firet part, on p~operty deecribed
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in eaid a~ortgege, which mortgage was deted November 29. 1'963 ~
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8nd reoorded Uecember 2, 19G3 . io Official Rec:ords ~
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Book 75 . peg~e
6~ St. Lucie County, Florida, public records,
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Wtl~t 88~ IIIOl'!g8$Q 8ECU1'e8 ~IB~?IDCQt O~ ~IB 8U~1 Ot ~2, (~0. QO • ~ i
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~ 'pVHBRBAS. eaidW. H. Ba~ett= also kno?wn as W. Howard Ba~e_tt~and
Evelyn $aggett, his wife, ,
~ . eaoecuoed a martgage to eaid perty of the sec~d part o~ property oov+ered ~ ~
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by tbe mortg~e abov~e m eationed, whicb mortgage aae da~ed~anuarv 17. 1964 ~
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, recorded Ianuary 27, 1964 ~ . in. ~icial 4
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- Record Bcok 79 . psge 517 , St. Lucie Countv, Florida. ~
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public reoords, a~d giv~e~ t~ eecure paymeut of t6a suai oi 11 000.00 .
- , 1NHSRBAS. party oi tbe eecoad part hae decliaed to close
eaid loaa ior ~11, 000. 00 , under said mortgage dated anu 17,
l~ , becauaE oi tbe e~~eace o! eaid mortgage tor
~2, ~40. 00 , unlese and uadl dze liea of eaid mortgage ehell be
eubordinated to d~e liea oi ee3d mor~gage da~ed January 17L19G4
aad party of tbe eeca~d part wlll not dieburee aod pay p~ooeede oi said . .
~ . mortgage dated ~~uar~ 17~1964 ~ o~ tt~e c~ondition
~ thet eafd prior t~ortgage be subordiaa~ed.
~ N~'W, THBRBF~tB, pert~ ct the ~ret part. lror end~ in
cvneideratioo o# the eum at ~1. 00 and otber veluabte coneideretions
Paid b~? p~srtq ot tbe eecoad part, tbe receipt w6ereot ie bereby .
, acknowledg+ed~ ac~d !o ordes ~o ir.duc~ s~d party o~ the eecond part ~o
elose the loaa ua~er •aid mortgage daaed
tanuarv 17. 19b4 . '
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~ ~o~~ ~2. .L. 384
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