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`1'HIS INSTRU~?F.NT made as of the 7th da,y of ""ay , A. D. 1970 ,
between STEWART-WADE FLORIDA CORPORATION, a~'lorida corporatian, i
with its permanent post office address as c/o Jones, Adams, Paine &
' Foster, attornevs at law, 601 Flagler Drive Court, West Palm Beach,
, Florida (hereinafter called the Owner) and JOH?1 H. LF.IB, JAMF.S A.
DEVLII~ , DONALD J. WADL , and ALE:CAPtDER S. BOW`~LRS . with a permanent
post office address as c/o ~ti'iliiam h. Parr & Company, P. 0. ~ox 1161,
Darien, Connecticut (hereinafter called the Guarantor): ~
~ ;v I T N E S S E T H:
~ ~hat for diverse, ~ood, and valuable cons3deration, and also
in consideration of the ~uarantor havin~ ~;uaranteed a certain Mort~ag~
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tlote dated °~tay 7, 1970 ,~iven by the Owner to t,iilliam Scott and
Fseverly Scott up to an amount of $2$0,436.56 in connection with
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r the purchase from them by the Otaner of the follawin~ described
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` oropert,~ situate in St. Lucie Count,y, State cf ~'lorida (hereinafter ~
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; called the Property): ~
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' ~11 of Sections 3, ~ and 5, and those oarts of Sections (
; 9 and 10 , l,vin~- North of State °oad 6$ ( Oran~e Avenue
; Extension), all in Townshio 35 Sout~, Range 37 E2st, i
i St. Lucie County, Florida. ~
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7 PiOirl: TH~REFOR~, as security to the Guarantor, the Owner `
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~ does hereby olace a char~e on said Propertv in favor of the Guarantor ;
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; it beine the intent hereof tnat the Guarantor shali nereoy acquire
~ a lien on the Propertv to secure its rit~ht of subro~ation a~ainst ~
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the ~wner in the event and to the extent tnat the Cuarantor makes any
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~ payment by reason of said ~uarantee. ThE encuMbrance created bv this
- , instrur.~ent shall be subordinate to any encumbrances on tne Property
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- ' whicn exist as of the date of the recordation of this instrument, ~
~ and the lien created hereby shall autcmaticall.y exoire at sucn tir~e f
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: GE{~RGE 4~. ~ ;'~~Y ~
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WES~ PALM i{f/1CH, fLQRlOA i~
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