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SUBORDINATION AGREEMENT E
RNOW ALL MEN BY THESE PRESENTS that First Federal Savings and
I,oan Association of Fort Pierce, a corporation organized and existing
under the laws of the United States of America, the owner and holder
of that certain mortgage and the indebtedness secured thereby,
executed by John Bongiovanni and Winnie Bongiovanni, his wife,
in the original principal sum of $20,000.00, under date of September 26,
1973, recorded in Official Records Book 219 at page 314 of the public
records of St. Lucie County, Florida, encumbering real property
situate in St. Lucie County, Florida, de~scribed as follows:
Lot 35, B1oCk 119, PORT ST. LUCIE SECTION 27,
as per plat thereof on f ile in Plat Book 14, page
5, of the public records of St. Lucie County,
Florida
at the request of said mortgagor and at the further request of
Precision National Homes, Inc., a Florida corporation, the owner
and holder of record title to the above described real property, _
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and in consideration of the sum of Ten ($10.00) Dollars and other
valuable considerations inuring to the undersigned from Pan American
Bank of Miami, a Florida banking corporation, does hereby subordinate
the lien and operation of said mortgage to the lien and operation
of that certain mortgage, and the indebtedness secured thereby,
executed by Precision National Homes, Inc., a Florida corporation
; to Pan American Bank of Miami under date of October 1Q, 1973, recorded
in Official Record Book 219 page 2919 of the public records of
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~ St. Lucie County, Florida, securing the sum of $45,746.00, and
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encumbering the above described real property and other lands,
~ in the same manner and effect as if said mortgage had been dated
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i and filed for public record prior to and in advance of the mortgage
f held by the undersigned which is hereby subordinated. :
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IN WITNESS WHEREOF, FIRST FEDERAI, SAVINGS AND LOAN ASSOCIA~~,,,,~~,,,,,~+'~.-
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TION OF FORT PIERCE has caused these presents to be executed i;~ht~`.~~
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its name by its President vn this, the,~~.~ day of October q£ G~. ;
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~ 1973. : ~ ''~boae` - ~
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~ the presence ~,f : FIRST FEDERAL SAVINGS AND LOAN `Y~
~ ASSOCIATION OF FORT PIE
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' ts Presi ent
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