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SUBORDINATION AGREEMENT i
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MBSREAS, fJestgten Corporation, a Ftorida corporation,
the developer and o~ner of Westglen Subdivision, according to the
pZat thereof fited in Plat Book Z4, page 51, pubZic recorda of
St. Lucie Courcty, Ftorida, did impose and cause to be recorded in
the pubtic records of St. Lucie County, FZorida, a DecZaration
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. of Partr~ Facilities for f?estgten recorded in Officiat Record ~
Bcok 176, page 491 and re-recorded in Officiat Record Book 176, ;
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page 223Z pubtic records of said county and a~d impose and cause ~
to be recorded a Dectaration of Restrictions for T~eatglen as
recorded in OfficiaZ Record Book 1~6, page 493, public records
` of St. Lucie County, FZorida, ~hich said Dectaration of Party
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` Facitities for Westglen and aaid DecZaration of Restrictions j~or ~
(?estglen aFpZy to Lots 1-40 incZusive of said subdivision, and
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WHEREAS, Ctitizens Federat Savings and Loan Asaociation
: of St. Lucie County, Florida, has agreed to make ?nortgage Zoans
ta Westglen Corporation, ~hich mortgage Zoans are in the amounts ~
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= of $18, 500. 00 for Lot 7 0; aaid subdtivision and recorded in O~,f;e-
iaZ Record Book ISS, at pages 2254 and 2255, pubZic records of St.
Lucie County, Ftorida, and; $111,000.00 for Zota 27, 18, Z9,20, 2Z
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and 22 0; said subdivision and recorded in OfficiaZ Record Book ~
- Z95 at pages 2258 and 2259, pubtic records of St. Lucie Count~, ~
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FZorids; and S111,00~.00 for Zots 23, 24, 25, 26, 27 and 28 of ~
" said subdivision and recorded in OfficiaZ Record Book Z95 at pages ~
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2256 and 2257 of the pubtic records of St. Lxctie County, Ftorida, ~
and
: f?HEREAS, in order to induce Citizens Federat Savinga
and Loan Association of St. Lucie County, Florida, to make eaod
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: mortgage Zoans and in compliance r~ith the requirement made by ;
I said Zending institution, Westgten Corporation has ag~sed to sub- f
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ordinate the Zier, und operation of eaid Dectaration of party Fac- :
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`s. ilities and said Declaration o f Restrictions to the Zien and opsr= ~
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ation o; the above described mortgage in favor of Citizens Federal ~
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Savin~s and Loan Association of St. Lucie County, Florida. ~
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