HomeMy WebLinkAbout1801 this day in hand p~id by the Borrower to the Original Mortgagee
and by the Borrower to the Association and ~n consideration of
the mutual agreements hereinafter contained, each of the parties
hereto do agree as follows:
1. That Connecticu~ General Life Insurance Company, the
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Oriqinal Mortgagee, has a good and suffic~ent first lien upon the
real property hereinbefore described pursuant to the various mort- ;
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qages appearing of record in favor of the Oriqinal Mortgagee exe- '
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cuted either originally in favor of the Original Mortqaqee or
in favor of Original Mortqagee's assignors; that the Oriqinal
Mortgagee has recorded first liens and/or first security interests
upon all citrus crops growing or hereafter grown on the real prop- _
erty described ahove and that the Oriqinal yortgaqee claims to have
and does have a first lien and/or first security interest on the
uverhead irrigation systems located on the above described premises
includinq the pumps, motors and piping and implements used in con-
nection therewith.
2. Gulf-Atlantic Production Credit Association, the Associa-
~ tion, is now acquirinq a lien upon all of the real property last
! hereinabove described; a perfected security interest in all of
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the.equipment including all irriqation equipment of the Borrower
~?hich said lien and/or security interest shall be subject and sub-
ordinate to t1:2 lien and/or securit~r interest claimed by the
Original Mortgagee, and in addition thereto a good and sufficient
perfected security interest in all ci~~us crops now growing or
hereafter grown on the real property hereinbefore described wt-,ich
said perfected security interest shall be a first lien on all the
crops coming into being during the term of the Association's lien
and which come into being prior to any foreclosure sale arising
as a result of the Original Mortgagee's foreclosinq any of its =
liens and/or security interests.
3. The parties agree that the Original Mortqagee has by the
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