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SUBORDINATION AGREEMENT
KNOW ALL MEN BY THESE PRESENTS, that First Federal Savings
and Loan 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 consolidation and modi- ;
fication agreement and the indebtedness secured thereby executed ~
by Gulf-Atlantic Investments of Fort Pierce, Inc. under date of ~
October 6, 1972, recorded in O.R. Book 207, page 67 of the public ~
records of St. Lucie County, Florida, encumbering real property
situate in St. Lucie County, Florida, as more particularly
described in said mortgage consolidation and modification agreement;
at the request of said mortgagor and in consideration of the sum
of Ten Dollars ($10.00) and other valuable considerations inuring
to the undersigned from Sun Bank of St. Lucie County, does hereby
subordinate the lien and operation of said mortgaqe consolidation
and modif ication agreement to the lien and operation of that cer-
tain mortgage, and the indebtedness secured thereby, executed by
the said mortqagors to Sun Bank of St. Lucie nty under date of
March , 1974, recorded in O. R. Book 2~~ , page 1392 of
the pu ic records of St. Lucie County, Flori3a, securing
t~e
sum of Fifty Thousand Dollars ($50,000.00).
PROVIDED, HOWEVER, that this subordination is specif ically
limited to the easement for ingress and egress granted by the
mortgagor.to Sun Bank of St. Lucie County by the above mortgage
deed as more specifically described as follows:
A f ifteen-foot easement for ingress and egress lying
Southerly and Westerly, respectively, and adjoining the
following described lines and as measured at right angles €
to said lines: -
Begin at a point on the East right of way of Oleander
Boulevard 400 feet North of the intersection of the East
right of way of Oleander Boulevard and the North right
of way of Virginia Avenue. From said point of beginning =
run South 89°42'43" East a distance of 275.02 feet to~
a point (terminus of line No. 1). From said point (terminus
of line No. 1) run North 24°42'32" West a distance of
123.0 feet to a point (terminus of line No. 2.)
~ Sole?y with respect to the easement for ingress and egress
~ as above described, this subordination shall operate in the
~ same manner and effect as if the mortgage as above set forth i
~ from mortgagor to Sun Bank of St. Lucie County had been dated and t
~ filed for public record prior to and in advance of the mortgage
~ held by the undersigned which is hereby subordinated.
IN WITNESS WI~REOF, First Federal Savings and Loan
Association of Fort Pierce has caused these presents to be
executed in its name and its corporate seal to be hereunt~affixed
by its proper officer thereunto duly authorized, this ~ day
of March, 1974.
Signed, sealed and delivered FIRST FEDERAL SAVINGS AND LOAN
~
~ in the presence of: ASSOCIATION OF FORT PIERCE
~ ~ By ~ ,~~i...
~ Senior Vice President • : j~f,
~ , ft ~
_ .
~ . C; Corporat~~ .
~ ~ `
~ , Seal • _ t~ ~ ,
~ ! O ~ l`- . .
~ - ~ - ~ :
. .~1Ifi:J~~•
~ STATE OF FLORIDA ~ '
•
x~i COUNTY OF ST. LUCIE ~J`~atJ~ ~yry; _
~ '
j I HEREBY CERTIFY that on this day, before me, an off icef"'c~uly •
authorized in the State and County aforesaid to take acknowledgments ~
~
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FEE. PARKER g FEE. P. A.
4TTORNEYS AT LAW
POST OFF~CE BOX 1000 K
FORT PIERGE. FLORIOA 33450 e0~~y ~
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