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SUBORDINATION AGREEMENT
WHEREAS, under date of November 1, 1976, a mortgage
was given by NICOLAS GUARDALABENE and EVELYN A. GUARDALABENE,
his wife, to MARION L. GIBBON, which mortgage was recorded
on-the 1st day of November, 1976, in O. R. Book 259, page
1395 of the public records of St. Lucie County, Florida,
and which mortgage covers the following described real
property lying and being in St. Lucie County, Florida:
Lots 4 and 5, Block 19, and Lot 4, Block 18,
Revised Map of FORT PIERCE BEACH SUBDIVISION,
according to the plat thereof on file in Plat
Book 8, page 29, of the public records of
St. Lucie County, Florida.
WHEREAS, the original outstanding principal balance
of the above-mortgage was in the amount of $270,500.00,
and
WHEREAS, SUN BANK OF ST. LUCIE COUNTY has made a
mortgage loan to NICOLAS GUARDALABENE and EVELYN A.
rUARDALABENE, his wife, in the amount of $15,052.76,
hereafter called the "new mortgage" covering a portion
of the property above described, which mortgage, dated
6
I April 19, 1979, was recorded on April 20, 1979 in O. R.
Book 307, page 917, public records of St. Lucie~County,
Florida; and
WHEREAS, the undersigned, in order to induce the
making of the new mortgage loan, previously agreed to
subordinate her mortgage to the new mortgage;
_ NOW, THEREFORE, in consideration of the premises
d the sum of 1.00 and other ood and valuable con-
an S 9
sideration, the mortgage first described above is by
this instrument subordinated and made inferior to the
mortgage given to SUN BANK OF ST. LUCIE COUNTY, last
BOGlc W~ P~Gf ~1~
NCILI ORI//IN JCI/RICE i LLOYD
CHARTERED
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~'lai P. O 90X 1270. FORT PIERCE. ilOR1OA 33450 - TEIEPNONE (30S) 464-0200
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