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SUBORDINATION AGREEMENT
IQ~IOW ALL MEN BY TI~SE 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 mortgaqe consolidation and modi-
fication agreement and the indebtedness secured thereby executed
by Gulf-Atlantic Investments of Fort Pierce, Inc. under date of
May 11, 1973, recorded in O.R. Book 214, page 780~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 agree-
ment ~nd in a preceding mortgage consolidation and modification
agreement dated October 6, 1972, reco~rded in O.R. Book 207, paqe
67, public records of St. Lucie County, Florida, at the request
of said mortgagor and in consideration of the sum of Ten Dollars
($10.00) and other valuable considerations inuring to the under-
siqned from Citizens Federal Savings and Loan Association of
St. Lucie County, Florida, does hereby subordinate the lien and
operation of said mortgaqe consolidation and modification agree-
ment to the lien and operation of that certain mortgage consoli-
dation and modification agreement, and the consolidated indebted-
ness secured thereby, executed by Gulf-Atlantic Investments of
Fort Pierce, Inc. in favor of Citizens Federal Savings and Loan
Association of St. Lucie County under date of 1974,
recorded in O.R. Book page ~//A~ of the pu i records of
St. Lucie County, Florida, securing the sum of $125,000.
PROVIDED, HOWEVER, that this subordination is specifically
limited to the easement for ingress and egress granted by
Gu1f-Atlantic Investments of Fort Pierce, Inc. as obligor to
Citizens Federal Savings and Loan Association of St. Lucie
County by the above referenced mortgage consolidation and modi-
fication agreement, 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 o~ 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) .
Solely 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 consolidation and
modification agreement as above set forth from Gulf-Atlantic
Investments of Fort Pierce, Inc. to Citizens Federal Savings and
Loan Association of St. Lucie County had been dated and filed
for public record prior to and in advance of the mortgage con-
solidation and modif ication agreement held by the undersigned
which is hereby subordinated.
IN WITNESS WHEREOF, First Federal Savings and Loan
Association of Fort Pierce has caused these presents to be
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TH'S INSTRUMENT PREPARED BY:
H. Fee~ III~ ESQUI~Pq O! FEE, PARKER ~ FEE, P. A.
F:~~, Fa:ker & Fee, P. f1. ATTORNEYS AT LAW
8 POBT OFFICE BOX 1000 BoQK~~ PACE1132
Fi(~t Federal Buildin FORT PIERCE. FLORIOA S34'SO
Fort Pierce„ ftoride 3345Q TEL[rNOM[: I.9OS/ 461-SO2O
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