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SDBORDIFATION AGR~N'i' '
WHER~AS, Waetglen Corporation~ a Florida corpora- ;
tion, the developer and owner oi Westglen Subdivieion~
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aoaording to the plat thereo! tiled in Plat BooY 14, paga
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51, public records ot St. Lncie County, Florida~ did impoae
and aanse to be ~ceaordad in the pnblic reoorda ot St. Lnaie
~ Couaty, Florida, a Declaration oY Party Facilitiee !a~ .
~eetglen reaorded im Ofi"lcial Reoord Book 176~ page 491
and re-recorded in Oflioial Record BooY 1?6~ Page 2231 ~
public records o~ said county aad did impoae and aauae to
be reoorded a Dealaratioa of Reetrictione ~or Weatglen ae ~
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recorded 1a~Of=icial Reoord Book 176~ page 493, pnblic ,
records o~ St. Zncie Couaty, Florida, which eaid~Declara~ ~
~ion of Party Facilitiee tor Weatglen and esid Dealaratio~
ot Reatrictione ior ifieet~].en apply to Lots 1-40 inclueive
o~ said subdiviefon~ and
WSERBAS* Security Federal Savinge and Loan Aaea-
ciation o! Indian River County haa a~eed to make a~ortgage
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j losn to Westglen-Corporation, which loan ia in the amonnt
~ oY ;18,000 and ia secnred by the mortgage recorded in
Oiticial Record Boolc 186,, page 1378, pnblic records oi St.
Zucie Connty~ Florida~ covering Zot~34 0! eaid enbdiviaion~ ~d
WHERTsAS~ in order to induce Seourity Federal
Savings and Zoan A$sociation oi Indian River County to mate ~ ~
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said a~ortgage loan and in compliance with the requirement
made by said lending inetitntioa~ Weatglen Corporation hae
~ agreed to eubordinate the lien aad operation oi said Declara- 4
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~ tion oi xeetrictione to the lien aad operation oi the above
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desoribed aortgage in favor o! Seaurity Federal Savinge i
and Zoan Aseociation oi Indian Ri~er Coimty.
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