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;I C H 1~ R C E
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THIS IT~STF.U~rtE~;T made as of the 7th day of r'av , A. D, 1970 , '
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bet;reen Sl~Lt:AR;--WA~JE FLORIDA CORPORATIOP3, a Florida cor~ooration,
:~ith its nermanent post office address as c/o Jones, Adar.is, Paine &
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~ Foster, attornevs at latia, 601 ~lagler ~rive Court , ir'est Palm Beach,
~ Florida (hereinafter called the Owner) and JOHN H. LEIB, JAt•tES A.
Dr.VLI:~ , DOt~ALD J. WADE , and AL~XANDER S. BOWERS , with a nermanent ~
post cffice address as c/o William H. Parr & Comnany, P. 0. Box 1161,
Darien, Connecticut (hereinafter called the Guarantor);
W I T*j E S S E T H :
That for diverse, ~ood, and valuable consideration, and also ~
iri ccnsideration of the Guarantor havin~ ~uaranteed a certain ~
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~~iart~a~e Note dated May 7, 197~, ~iven by the Owner ta L. W. Scott j
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and t'.ary F. Scott, his wife, un to an amount of ~712,783.58 in !
conr,ection with the purchase from them by the Owner of the following `
described Dronerty situate in St. Lucie Count,y, State of Florida
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? (hereinafter called the Prooerty);
t Sections 5, 6, 7, 8, 17, 1$, 20, 27, 28, 29, 32, 33 ~
~ and 34, Townshin 3u Seuth, Ran~e 37 East, St. Lucie
= County, Flcrida.
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€ rIOT~nT, ThEREFORE, as security to the Guarantor, the Owner ~
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3 . does hereby place a char~e on said Property in favor of the Guarantor!
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~ ' it bein~ the intent hereof that the Guarantor shall hereby acquire I
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~ ` a lien on the Property to secure its ri~ht of subrogation a~ainst
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? the Owner in the event and to the extent that the Guarantor makes an.y
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~ ~ oayment b~~ reason of said Guarantee. The encumbrance created by this
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instrument shall be subordinate to any encumbrsnces on the Propert~
` ~ wnich exist as of the date of the recordation of this instrument,
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~ and the lien created hereb~ ~;~all automatically expire at such tim e !
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