HomeMy WebLinkAbout2411 ~9~~~ AGREEMENT TO SUBORDINATE AND ASSIGN MORTGAG$
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THIS AGREEMENT, Made and entered into this ~3o day of
May, 1973, by and between EDWARD MILLER & SON, ING., a Florida
corporation, hereinafter referred to as "MILLER"; and FIRST WISCONSIN
MORTGAGE TRUST, a Massachusetts 8usineas Trust, having its principal
place of business in Milwaukee, Wisconsin, hereinafter referred *o
as "WISCONSIN";
W I T N E S S'E T H:
WHEREAS,-MILLER is the owner and holder of a certain
Promissory Note secured by a Purchase Money Mortgage executed by
Piper's Landing, Inc., a Florida corporation, which Mortgaqe is
recorded-in Official Records Book 357 , Paqe 2329 , Martin
County, Florida, public records; and
WHEREAS, WISCONSIN has undertaken to act as lender to the
said Piper's Landing, Inc., in the acquisition and development of ~
the lands subject to the aforesaid Mortgage, and part of its inducement
to act in such capacity derives from the Aqreement of MILLER to
subordinate its said Mortgage and assign the same under the terms and
conditions hereinafter more specifically set forth;
NOW, THEREFORE, parties hereto, in consideration of the ~
premises hereinbefore set forth and in further consideration of the - 1
sum of Ten ($10.00) Dollars this day paid by WISCONSIN to MILLER, the
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receipt whereof is hereby acknowledged, do hereby covenant and agree ~
as follows :
I. That MILLER is at the date of the execution of this
Agreement the sole owner and holder of that certain Promissory Note
in the original principal sum of $942,180.00 executed by Piper's
Landing,.Inc., a Florida corporation, and that certain Purchase Money
Mortgage securing the aforesaid Promissory Note executed by the same
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WM. F. CRARY
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