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SUBORDINATION AGREEMENT
KNOW ALL MEN BY THESE PRESENTS, that THE PRUDENTIAL INSURANCE
COMPANY OF AMERICA, the owiier and holder of certain mortgages and
the indebtedensses secured thereby, described as follows:
Mortgage from Alto Adams and Carra Adams, his wife, unto
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a corporation
of the State of New Jersey, dated June 22, 1955, to
secure payment of FOUR HUNDRED THOUSAND AND NO/100
($400,000.00) DOLLARS, recorded in St. Lucie County,
Florida, in Mortgage Book 117, page 479, and a certain
Mortgage between ALTO ADAMS and CARRA ADAMS, his wife,
ALTO ADAMS, JR. and DOROTHY S. ADAMS, his wife, and
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a corporation
of the State of New Jersey, dated December 26, 1958,
to secure payment of even date therewith, in the sum
of TWO HUNDRED SIXTY THOUSAND AND NO/100 -($260,000.00)
DOLLARS, recorded in St. Lucie County, Florida, in Mortgage
Book 151, page 442, re-recorded in Mortgage Book 153,
page 174, which said Mortgages were Consolidated by
Agreement dated December 26, 1958, recorded in Mortgage
Book 151, page 447, public records of St. Lucie County,
Florida; Mortgage dated July 5, 1963, recorded in Official
Records Book 66, page 26, made by ADAMS RANCH, INC.,
a Florida corporation, and ALTO ADAMS, JR. and DOROTHY
~ S. ADAMS, his wife, recorded in St. Lucie County, Florida,
which mortgage was Consolidated by Agreement dated July
5, 1963, recorded in Official Records Book 66, page
31; Mortgage dated January 7, 1964, recorded inOfficial
Records Book 78, page 525, which said Mortgage was Consolidated
by Agreement dated January 7, 1964, recorded in Official
Records Book 78, page 530, St. Lucie County, Florida;
Mortgage dated June 9, 1965, recorded in Official Records
Book 120, page 102, which said Mortgage was Consolidated
by Agreement dated June 10, 1965, recorded in Official
Records Book 120, page 107, St. Lucie County, Florida.
~ . ~s.
;,~f~,~~ encumbering real property situate in St. Lucie County, Florida,
~ ~ rhiah includee the following:
~ A 50-foot strip of land used as a private road lying
~ adjacent to and on the -West side of Rim Ditch Canal
` right-of-way (otherwise known as Central and South
Florida Flood Control Canal C-24) and extending from
the South line of Section 17 North to the South right-
~ of-way line of State Road 68 (Orange Avenue Extension)
~ in Section 8, all~in Township 35 South, Range 38 East.
At the request of said mortgagors and in consideration of the
sum of Ten Dollars ($10.00) and other valuable considerations inuring
~ to the undersigned from THE EQUITABLE LIFE ASSURANCE S~CIETY OF THE
= UNITED STATES, The Prudential Insurance Cor.lpany of America does
~ _ hereby subordinate the lien and operation of the within described
~ ~ mortgages to the lien and operation of that certain mortgage,
and the indebtedness secured thereby executed by J& B Groves,
~ ~fl~ a Partnership, to The Equitable Life Assurance Society of the
~ • United States, dated January 24, 1978, recorded in Official
; ~i(~ Records Book 28U , at page 2780 of the public records
s, of St. Lucie County, Florida, securing the sum of $700,000.00,
and encumberinq the above described real property, in the same
~ manner and effect as if said mortgage had been dated and filed
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~ *as to the 50-foot etrip of land described above
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~ FEE, PARKER & FEE. P. A.
~ ATTORNEYS AT lAW
# ~ POST ORFICE BOX 1000 A!~
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