HomeMy WebLinkAbout0607 modified by Agreement in O. R. Book 290, at page 851 and being a mortgage
lien on all of eaid Parcele I, I I and I I I above described; and
WHEREAS, FIRST FEDERAL is the owner and holder of a mortgage from
LUCIE LANES and GOULD which encumbers
Lot 2. of Block 3 of MODEL LAND C4MPANY SUBDI VISION
as per p'~at Book 1, page 41, of the public records of St. Lucie
County. Florida; otherwiae deacribed as the SE; of the NE',-
~ of the SW,'-~ of Section 15, Township 36 South, Range 40 East,
L~sSS AND EXCEPT (1) the South 10 feet thereof; (2) the North
100 feet thereof; and (3) that part lying East of the Weet right
of way line of State Road No. 5(U. S. Highway No. 1).
and ~
WHEREAS, the parties hereto are desirous of eetablishing the respective
priority of the herein before described mortgage liens;
NOW, THEREFORE, in consideration of the premises as well as the eum
of $14. 00 and other valuable consideration each to the other in hand paid, the
receipt whereof is hereby reepectively acknowledged, IT IS AGREED as follows;
1. The mortgage lien of CITIZENS is hereby declared to be a lien of first
priority on Parcels I and II, and WILLBUR and FIRST FEDERAL do hereby
specifically subordinate their respective liena unto the morYgage Iien of
CITIZENS with respect to the said Parcels I and I I. =
2. The mortgage lien of WILLBUR is hereby declared to be a lien second
only in priority to that of CITIZENS on aaid Parcels I and II, and FIRST
FEDERAL does hereby eubordinate its said mortgage lien to that of WILLBUR
with respect to said Parcels I and I I, only.
3. The mortgage lien of FIRST FEDERAL is hereby declared to be of -
third priority following the liens of CITIZENS and WILLBUR as to said Parcels
I and I I, but is hereby recognized to be of first priority a8 to Parcel I I~I; and
WILLBUR does hereby aubordinate the lien and operation of it~ 8aid mortgage
to that of FIRST FEDERAL with respect to the said Parcel I I I. .
4. That LUCIE LANES and GOULD, as to their respective land ownerahips, F
- 5
do hereby recognize and consent to the order of prioritiee as herein set forth,
the said priorities. being in accord with the requeata of LUCIE LANES and ;
GOU LD.
5. That all recording reference8 herein contained are to the prublic records `
;
of St. Lucie County, Florida, .
-2 - Bo~ 292 647
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