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1 PREPARED BY:
~~;A.fjB~ JANICE L. ROMANCHUCK, ESQ: I
HELLIWELL, MELROSE di OeWOLF
1401 BRICKELL AVENUE, 9th FLOOR
MIAMI, FL. 33131 ~ ~
SUBORDINATION AGREEMENT
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WHEREAS, under date of December 27, 1978 a
Mortgage was given by Charles A. Schuette, Trustee., '
to BERNARD A. EGAN, which Mortgage was recorded on the f
t
28th day of December 1978, in Official Records Book
300 at Page 1579, of the Public Records of St. Lucie
County, Florida, which Mortgage covers the following
described real property lying and being in St. Lucie '
County, Florida: -
The SE 1/4 of the NE 1/4 and the
North half of the SE 1/4 of Section
13, Township. 35 South, Range 38 East, ~
less and accepting therefrom all
-rights of way for public roads and
drainage canals.
WHEREAS, Equitable Life Assurance Society of ~
the United States has agreed to make a mortgage loan
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to Charles A. Schuette, Reginald H. Mattox-, John W. ~
Cooney, Truman A. Skinner,. and Milton H. Hatfield in
the amount of Two Hundred Seventy-Five Thousand
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j ($275,000.00) Dollars hereafter called the "New Mortgage"
j covering the property above described, provided that the
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~ Mortgage first described is subordinated to it; and
WHEREAS, the undersigned, in order to induce
a the making of a new mortgage loan, and in consideration
of the sum of One ($1.00) Dollar and other good and -
valuable considerations, desires to subordinate his
Mortgage to the New Mortgage;.
NOW, THEREFORE, in consideration of the premises }
the Mortgage first described above is by this instrument
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subordinated and made inferior to the Mortgage to be
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given to Charles A. Schuette, Reginald H. Mattox,
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