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SUBORDINATION AGR88MENT
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Thia agree~aent made and entered into on this ~ I
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day of , 1972, by and between OL~DOOR 1t8SQATS OF AMERICA, ~
I I~tC., a Tennessee corporation, hereinafter called "Resorte,"
INC.
IO~WA I~AND AND GENSRAL DEVSLOPI~DiT CORPORATION,/ a I~innesota Cor-
poration, hereinafter called "Iowa," and FIRST FSD~RriL SAV~
( ALID LQ~T ASSOCIATION OF MART~N COUNTY . with officea in Stuart,
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Florida, hereinafter called "Association,".
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WI~REAS, Resorts has purchased fran iawa a certain
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~ parcel of land lying and being in St. Lucie County, Florida,
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evidenced by deed of record recorded in~OR Hook 182, pagea 1655-
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57 in the Public Recorda of St. Lucie County, Florida3 aad
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~ Wi~RSAS, Resorts ha6 conveyed to Iowa a mortgage on -
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~ th~ sf,,oac~aic7 t.sa~t of lan~ as ascurity for payment of th~ uupaid
~ balance of the purchaee price of said tract, eaid mortgage b~fng '
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, recorded in OR Book 182, pages 1658-63, Public Records of St.
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f Lucie County, Florida; and
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