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'.'ftH, HEATH, 5\117F1 3 O"t1A~RE
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SUBORDINATION AGR EEMLNI'
THIS AGRL'EMENT, made this 14th day of October, 1971,
between A. DUMMOND MERWIN, party of the first part, and FIRST
I= EUERAL SAVINGS AND LOAN ASSOCIt1TION OF INDIAN RIVER COUNTY,
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a corporation under the laws of the United States, party of the second part,
W ITN ESSET~~:
WHERCAS, EDENLAWN Pl_.t1NTATION, INC. , a Florida ~
Corporation, executed a mortgage to the party of the second part on property
' described in said mortgage, which mortgage was dated May 22, 1962, and
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recorded in Official Record Book 37, page 532, public records of St. I_ucie
£
y County, rlorida, securing the princi~al sum of ~40, 000. 00; and which
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- mortgage was assigned to party uf the first part by Assignment of Mortgage
~ dated July 20, 196-~, recorded in Official Record Book 9~, page 97, publ~
records of St. Lucie County, Florida, and
- WtIEREAS, said EDENLAWN PI.ANTATION, INC. , a Flori~a
- Corporation, executed a mortgage to said party of the second part on ~
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property covered by the mortgage above mentioned, which mortgage was
datec~ vovember 9, 1967, recorded in Official Record Book 169, page 380,
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public records of St. Lucie County, Florida, and given to se~ure the pay-
ment of the sum of S30, 000. 00, which mortgage above mentioned was
subordinated to the mortgage described herein, by Subordination Agreeinent
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recarded in Official Record Book 169, page 11=~0, St. Lucie County, Florida,
~ records, and
WEiL:RE:1S, said EDENL~~WN Pl.r~~!TATION, II~'C. , a Florida
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= Corporation, executeci a mortgage to said party of the secorxi on property
covereci by the mortgages above mentionecl, which rnortgage w~as dated
= S~ptember 20, 1971, recordeci in Official Recor~i Sook 19~, page 2~8-~ of k
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- the public records of St. Lucie Countv, Florida, an~l giv~~n to secure the
payment c~f the sum of 5-~6, 000. 00. f
f
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WHL-'REAS, party of the second }~rt has ~leclinecj to close said
= loan for ~00. 00, under sai~i mortgage date~i September 20, 1971, 4
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~ao~i96 P~~Ei62?
Smith, Neath, Smith 8~ O'Ha+re, Attorneys At law, P. O. Box 518, Vero Beach, Fiorida 32960