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SUBORDINATION AGREEMENT
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THIS AGRr:~N1~Ni, mane zhis ~ay - . Z~'=•
between WARREN McFADDEN and MARY ANN McFADDEN, his wife, herein
after referred to as First Party; KENTUCKY MORTGAGE COMPANY, `
INCORPORATED, a Rentucky corporation, hereinafter referred to as ~
Second Party; and COMMUNITY FEDERAL SAVINGS AND LOAN ASSOCIATION
OF I2IVIERA BEACH, hereinafter referred to as Third Party; ~
W I T N E S S E T H: ~
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WHEREAS, First Party is the owner of the fee simple title r
to the following described lands in St. Lucie County, Florida,
' to-wit: `
Commencinq at the intersection of the `
East right of way line of State Road
AlA with the North line of Section 19,
Township 35 South, Range 41 East, St. ~
Lucie County, Florida; thence South '
18° 39' 15" East 1835 feet along said ;
right of way line to the Point of ?
Beginning; thence North 71° 20' 4~" ;
East 1310 feet, more or less, to a `
point on the 1887 Government Meander
Line at the Atlantic Ocean; thence ~
; South 22° East 340 feet along said ~
~ Government Meander I,ine to•a point; i
; _ thence South 71° 20' 45" West 650 ~
~ feet to a point; thence South 18° 39' ~
15" East 120 feet to a point; thence ~
South 71° 20' 45" West 500 feet to a ~
point; thence North 18~ 39' 15" West }
~ 138 feet to a point; thence South 71° ~
~ 20' 45" West 185 feet to the East `
right of way line of State Road AlA;
~ thence North 18° 39' 15" West 320 feet
~ to the Point of Beginning.
~ - WHEREAS, Second Party is the owner and holder of three
~ (3) mortgages encumbering said lands and of three (3) promissory
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notes respectively secured by said three mortgages; together with f
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~ a Financing Statement and Assignment of Leases, Rents and Profits,
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~ 1. That certain mortgage dated January 19, 1966, from '
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Homer Hoyt and Gertrude M. Hoyt, his wife, to First National ~
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~ Bank in Fort Lauderdale, Florida, as Trustee, filed January 28, _
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~ 1966, recorded in Official Record Book 137, page 197, of the
~ public records of St. Lucie County, which mortgage secures a
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~ BOOK ~JO PA6E
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