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SUBORDINATION, NON-DISTURRANCE AND ATTOfiARlENr
AGREEMENf BETWEEN MORTGAGEE MID TENANf
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THIS AGREEMENT made as of this day of ~QPJ~ , 1974, by
and between Gray Drug Stores, Inc. (an Ohio corporation), 666 Euclid Avenue,
Cleveland, Ohio (hereinafter called "Tenant") and The First Federal Savings and
Loan Association~of Largo (hereinafter called "Mortgagee"),
W I T N E S S E T H: ~
NHEREAS, Mortgagee contemplates becoming the owner of a mortgage
(hereinafter called "said Mortgage") upon certain real estate situated at the
northwest corner of the intersection of Rio Mar Drive and U. S. #1, Port St.
Lucie, Florida, which real estate will be camnonly knawn as the St. Lucie
Plaza Shopping Center; and
WHEREAS, by lease dated August 1, 1973 (hereinafter called "said
Lease"), delivered to rhe Mortgagee, Tenant has leased a portioa of the above .
described premises for a term of years; and
WHEREAS, a Memorandum of Lease was recorded on October 17, 1973, in
the St. Lucie County lease records, O. R. Book 219, ~age 2417; and
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WHEREAS, the lien of said Lease is prior in time and paramount to the
lien of said Mortgage; and
WHEREAS, as an inducement to the Mortgagee to make said mortgage, the
Tenant and the Mortgagee have agreed to execute this instrument.
NOW, THEREFORE, the parties for and in consideration of the ffiutual
covenants herein contained and for and in consideration of the sum of Ten
Dollars ($10.00) by each to the other in hand paid receipt of vfiich is hereby
~ mutuall acknowledged, do covenant and agree as follovs:
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1. The Tenant agrees that subject to the provisions contained herein,
the Lease is subject and subordinate to the lien of the Mortgage.
2. The Mortgagee agrees that as long as the Tenant is not in default
(after due notice is given to Tenant as required by said Lease and Tenant has
had time to cure said default as provided for in said Lease) in the perfozsance
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I Flrst Federal Savings & Loa^ Ass'n of Lar~p
P. O. Box 1960
~ lirBo. Florida 3354Q , ~ rw~ ~
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