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28U394 `
~ SURORDINATION AGREEMENT ~
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KNOW ALL MEN BY THESE PRESENTS, That THE SUN BANK OF COCOA.
N.A, in consideration of the sum of One Dollar ($1.000 paid and
further consideratian of the granting to Cecil T. Cameron, E. Thom
Rumberger, Walter A. Cerrato, and C. R..McCotter, Jr., of a loan
by The Federal Land Bank of Columbia. hereinafter called Bank.
,
subordinates the following real estate mortgage: ~
Mortgage from Maggie Groves. Inc., a Florida corporation
to The Sun Bank of Cocoa, N.A., dated December 31, 1973,
securing payment of the principal sum of $450,000.00.
and recorded in 0. R. Book 224, page 1801, public records
of St. Lucie County, Florida.
to a certain mortgage from Cecil T. Cameron,E. Thom Rumberger,
Walter A. Cerrato and C. R. McCotter, Jr., joined by their res-
pective wives, Dorothy H. Cameron, Constance D. Rumberger, Mary
R. Cerrato and Donna M. McCotter, to the Bank, securing the principal
sum of $315,000.00, dated March 28, 1974, and recorded in Official
Records Book a~(o , page 1&~ , public records of St . Lucie County ; -
Florida, hereinafter called Bank Mortgage, as follows:
(1) Bank Mortgage shall be prior to mortgage to The Sun Bank
~ of Cocoa, N.A. on the lands described in Bank Mortgage.
i
; (2) Except as herein specifically provided the priority of the
~ mortgage to The Sun Bank of Cocoa, N.A. shall remain unchanged, and
~ The Sun Bank of Cocoa, N.A. hereby agrees that_ in the event it assigns
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~ the mortgage above listed, the assignment will recite the fact that ~
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~ this mortgage has been subordinated to Bank Mortgage.
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~ IN WITNESS WHEREOF, The Sun Bank of Cocoa, N.A. has caused these
~ presents to be executed in its name, and its corporate seal to be
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~ hereunto affixed by its proper officers thereunto duly authorized,
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~ this /.Z~ day of April, 1974.
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~ n _ _ .r. ~ -
Signed, sealed and delivered THE `@F OCO ,.A
in the presence of : '
_ -
r.=~ ~BY
- ~s
~
' c .,,s~:~. /
- - ATTEST : ' ~ .-~l~X~~'a'~- ~
y ~ ' ~
~w
' (corpQrate seal)~~ . • ~
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This Instrument prepared 6y _ _ ~
TOM W. CON~LY !II ~ -
S~` ~
207 W. 2nd Street ~ ~ .
Qkee~ho~ee: Fl~r.da 33472 •
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- R 226 P~1832 - ~
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