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SUBORDINAT ION OF MORTGAGE 1~~~~
WHEREAS, on the 14th dsy of Januery, A.D., 1963, HOME
MISSION COMMITTEE THE PRESBYTERY OF THE EVERGLADES, INC., a
non-profit Florida corporation, executed a mort~age to THE
BOARD OF CHURCH EXTENSION OF T~iS PRESBYTTRIAN CHURCH IN THE
UNITSD STATBS, INC., a non-profit~ corporation, hereinafter
ce~lled MortgaRee, to seaure a note in the original principal
amount of $20,000.00, which mortRa~e was recorded on March 20~
1963, in OfPicial Records Book 59s page 225s of the public
records of St. Lucie County, Florida, encumbering the land
described therein; and
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WHER£AS, INDIAN RIVER PRESBYT~RIAN CHURCH, INC., a ~
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non-profit Florida corporation, hereinafter called Mortgagor ~
has requested Mort~aRee to subordinate the lien and operation ;
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of said mort~ra~re to a mortRa~re executed by MortRagor to FIRST ~
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FIDERAL SAVINGS Ar'D IAAN ASSOCIATION OF FORT PIERC~, a corpor-
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ation existinq under the laws af the United States of America,
to secure a promissory note in the oriRir.al principal amount
of $80~000.00, and #
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~ WHER~AS, Mortgagee has agreed to subordinate its said
mort~a~ee as her~inafter aet forth:
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NOW ".'HfiRIIaORE, for and in conaideration of the premises ~
and of the sum of Ten Dollars ($10.00) and other valuable con- ;
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siderations in hand paid by MortRaRor to MortRagee, the receipt }
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of Which is herebf acknowledRed, Mortgagee does hereby agree
and declare that said mortRa~e described above, executed by
HOIr:E MISSION COI~ITTEE THS PRESBYTERY OF THE EVERGLADES, INC.
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to MortRaRee, insofar as said mort~aRe lien encumbers the f
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hereinafter described real property, and all of its righta
~ in and to the hereinafter described real prbperty, are hereby
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made expressly subject, subordinate and inferior in all res- ~
pects to that mortgaQe described abave, executed by ~IortqaRor
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