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SUBORDINATION AGREII~NT F
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WHEREAS, EDSON ARNOLD and IAUIS FISCHER, (her.einafter called
• the~Borrowers) are desirous of obtaining a loan from the ST. LUCIE
OOUNTY BANK, a Florida banking corporation, in the sum of TEN
THOUSAND AND NO/100 ($10,000.00) DOLLARS, with interest at the
rate of 696 per annwa, and
WHEREAS, the said EDSON ARNOLD and IAUIS FISCHER, are.the
owners of that certain property described as follows, to-wit:
Heginning at the Northwest corner of Section 3, Township 35
South, Range 40 East, run South 89 degrees 37~ minutes East
for a distance of 628.9 feet-to a point which is the inter-
section of the township line and the East property line of th
Florida East Coast Railroad right-of-way; from seiid point run
North 20 degrees 24 minutes West 714.4 feet on East right-of-
- way line of Florida East Coast Railroad to point of beginning
from point of beginning run South 89 degrees 37 minutes East
354.2 feet to water edge of Indian River; run thence South
18 degrees 54 minutes East 114.94 feet to a point; run thence
N`orth 89 degrees 37 minutes West 50 feet to a-point; run_then e
South 18 degrees 54 minutes East 131.0 feet more or less to a
point which is on North right-of-way line ~f proposed sidetra ;
- thence to a Northwesterlq direction on North line of proposed
sidetrack ri.ght-of-waq on a 14 de~ree 32 minutes curve right
with a radius 395.27 feet for a distance of 487.0 feet more
or less to the point of be~inning, and being in Governmen~
I.ot ~2, Section 34, Township 34 South, Range 40 East, Fort
Pierce, St. Lucie County, Florida, together with any riparian
rights appertaining.
and,
, the said JOHN JO~iANSEN leased a part of the heretofo ~
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~ described premises from the borrow~ers, and
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~ WHERF.AS, IEONARD CALLAN and JOSEi'HINE CALIAN, are sub-lessees
~ of the I,essor, JOHI~i JOHANSEN, on a portion of the premises hereto~
fore described, said sub»lessees operating a certain business kno
as KELI,Y=S DINER.
NOW, THEREFORE, BE IT AGREED, that the said LEONARD CALLAN ;
and JOSEPiiINE CALIAN, d/b/a ICEI.I,Yt S DINER, and JOHN JOHANSEN, do
hereby covenant and agree with the said Borrowers, that the lease~
hold interest and any other interest, encumbrance, or lien held bp ~
~ the said parties against the heretofore described land, shall be
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sub~ndinate "and inferior to that certain mortgage to the ST. ?~UCIE
COUNTY BANK, a Florida banking corporation, in the amount of TEN
THOUSAND AND NO/100 ($10,000.00) DOLIARS. -
Notice of acceptsnce of this agreement is hereby waived, and
CHARLES E. BECHT
ATTORNEY AT LAW ~ -
ST. LUCIE GOUNTY ' . -
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BAHK N.DO.
P. O. 60X D+~O "
FoRT PIERCi. FLORIDA ~ • t
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