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SLIBORDINATION AGREEMENT
WHEREAS, under date of June 20, 1962, a mortgage was
given by FLORIDA MAID CITRUS CORPORATION, a Florida corporation,
to STRAZZULLA BROTHERS COMPANY, a co-partnership, which mortqaqe
was recorded in Official Records Book 39, paqe 291 of the~Public
Records of St. Lucie County, Florida, which mortqage covers the
following described real property lyinq and being in St. Lucie
County, Florida:
~ Blvcks 15, 16, 17, 18 and 20, of the Agricultural
Plat of Florida Maid Citrus Grove, recorded in
Plat Book 13, Paqe 1, Public Records of St.
Lucie County, Florida.
WHEREAS, CONNECTICUT GENERAL LIFE INSURANCE COMPANY
has agreed to make mortgaqe loans:
1) To SILICOTE SALES CO., INC. in the amount
of $136,000 encumbering said Block 18;
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2) To THOMAS T. LENK in the amount of ;
$146,700 encumbering said Block 20; and
3j To FLORIDA MAID CITRUS CORPORATION in
the amount of $~440,100.0Uencumbering
said Blocks 15,~ and 17;
each of said mortgages to be amortized annually over 15 years
and December 1, 1971 (Florida Maid Citrus Corp.)
commencing June 1, 1971/with interest at the rate of 6$ per annwn
to begin accruing with the date of the note, payable annually
and December 1, 1966 (Florida Maid Citrus Corp.)
beginning June 1, 1966; hereafter called the "new mortgages",
coverinq the property above described, provided the mortgage
first described is subordinated to it; and
WHEREAS, the undersigned, in order to induce the makinq
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of the new mortgage loan, and in consideration for the sum of
One Dollar ($1.04) and other good and valuable considerations,
desires to subordinate its moricgage to the ne~`mortgage.
NOW, THEREFORE, in consideration of the premises,
the mortgaqe first described above is by this instrument sub-
ordinated and made inferior to the mortgages to be given to
CONNECTICUT GENERAL LIFE INSURANCE COMPANY, last described above.
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lAW OFFICES OF RIME8 AND (TREATON, KENANN BUILDiN6. 310f NORTH FEDERAL HItiHWAY. FORT LAUOERDALE, FLORIDA 9980d
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