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2031~~
SUBORDINATYON A+GREII~iENT
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~ For and in the consideration of the extentior of credit by ~
any Bank or lending institution to KENNETH L. J ACK90N and/or `
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COASTAL DII~ALITION, INC., a Florida corporation of Fort Pierce, ;
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St. ~.ucie County, Florida, by means of a S.B.A. type loan, the 4
SITTEE RIVER ESTATES, LTD., a corporation, by the duly authorized ~
undersigned officer and shareholder, does hereby subordinate the
claim of its mortgage dated March 22, 1961, against KENNETH I~.
JA~CKSON, which mortgage is now owned and held by the undersigned
in the principal amount of $30,000.00, and does covenant and agre
that no drawings or payment of any kind as a reduction of said
mortgage principal or interest are ta be made by KII~A~IETH L.
JACKSON, or received by the undersigned until all amounts due fro
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KENNETH L. JACKSON and/or COASTAL DII~LITION, INC. , a Florida cor-
poration, to any bank relying upon this Subordination, have or
has been paid~in 'full. ~ 5 ~
Dated this 31 5~ agy of I~f C~~/j'! /3f fp , A. D. 1970.
Witn sses:
,
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` ~v 0 icer and Shareholder of Sittee
~ C. River Estates, LTD., a corporation
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' ROGER rO~TIIA~
~ STATE OF FLORIDA ~L RK C~RCiNt~\~
~ RE VERIftEO y
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couN~ oF ,~t ~1 t2 v~ eN'1~ - .
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I HEREBY CERTIFY that on this day, before me, an officer dul
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audiorized in the State and County aforesaid to take aclmowledg- ~
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~ ments , personally appeared ~ r~-~'~ K F
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~ to me known to be the person described in and who executed the
~ fore oin instrument and he acknowledged before me that he execut
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~ the same b the authorit dul vested in him b said co
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WITNESS m hand and seal in the Count and StatQ.~~~:. ~ °
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said this~day of D~a/ , A. D. 1g7Q~ ~ n
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CHAAIES E. BECHT ¢ ' ~
.r.o~NEr M ~~N NOta~ ~~~C ~ a7ta~.c Q r ~7, . •a~~~• .
S` ~u~~E~alMTr M Commission Ex ires: `
A.~~ .w.a~ Y P j'~r'~r: ~•~~~.,:A~`,~
. o .ox .
':~TARY PU"'!~. ST~T£ of Ft~:le7Ait IARGf
VIERCE. FIORIDA _S tc~Y.9 . 1973
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BG~(il( P!{CE ~
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Sa~ on ~'t.,~r f`c~ ' „ ' ,~,~5-~i"
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