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SUBOROINATION AGREENENT
KNOW ALL MEN BY TF~SE PRESENTS that KENNETIi L. PHILLIPS and
NARJORIE A. PHILLIPS, his wifa, the owners and holders of that
certain mortgage and the indebtedness sacured th~ey, exacuted by -
THOMAS F. WILIIS e~d CATHERINE M. WILLIS, his wife under date of
August 30th, 1969, recorded in 0. R. Book 179, page 1808, 6t:•Lucia
County, Fio~ida, pubtic recards, ertcumbering real property situate
in St. Lucie County, Florida, as followst
Lot 5, Btock 1 of the "Subdivision of part of ~
Block L, City of Fort Pierce" (sanetimes known as
Recaive~'s Subdivisio~) as per piat thereof on
fiie in Plat Book 4, page 35, public records of
St. Lucie County, Florida.
At the request of said mortgagors and in co~sideration of the sum
of $10.00 (Ten and 00/100 Dollars) and other valuable considerations
inuring to the undersigned from St. Lucie County Bank of Fort Pierce,
Ftorida, do hcreby subordinate the ~ien'and operation of said mortgage
to the )ien and operation of that certain mortgage, and the indebted-
ness secured thereby executed by the said mortgagors to the St. Lucie
County Bank under date of November 12th. , 1970,
recordad in 0. R. Book 188 at page 517 , St• Lucie Cou~ty,
Florida, public records, securing the sum of $12,000.00 ~
- and encumbe~ing the above described real property, in the same manner
and effect as if said mortgage had been dated and fited for pubtic
record p~ior to and in advance of the moftgage held by the undersigned
which is hereby subordinated.
IM WITNESS I~AIEREOF, we have hereunto fi xed our hands and seal s
thi s 1O~`-.~ day of Novgnber, 1970•
~ ,
(SEAL)
Signed, sealed and delivered Kennet L. Ph 11 ps
in the pre nce of : ~
.
.
SEAL)
, Marjo e A. Ph ii~ps
gooK 188 ;~~~,:12!38
O~ LAUGHLiN AND O~ LAUGHLIN. ATTORNCYS AT LAW. FORT PIiRCt. FLORlOA
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