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SUBORDINATION AGREEMENT
AGREEMENT MADE this day of August, 1979, by and
between LAWRENCE H. BAUMKER, the Owner and Holder of a certain
mortgage and the indebtedness secured thereby, executed by JORAM
O. PETERSEN, under the date of January 30, 1978, recorded in
Official Record Book 281, page 1586, of the Public Records of St.
Lucie County, Florida, encumbering property described therein,
and GEORGE E. HOGAN and ELIZABETH N. HOGAN, his wife, present
owners of the real property described herein below.
NOW THEREFORE, KNOW ALL MEN BY THESE PRESENTS that
LAWRENCE H. BAUMKER, for and in consideration of the sum of
One Dollar ($1.00), in hand paid, and other valuable consider-
ations, and in order to induce FLORIDA BP.NK AT FORT PIERCE,
hereinafter called FLORIDA BANK, to make and extend a loan to~
GEORGE E. HOGAN and ELIZABETH N. HOGAN, his wife, to be secured
by a mortgage, for the construction of improvements on the
following described real property situated in Saint Lucie County,
Florida, does hereby subordinate that certain mortgage and the
indebtedness secured thereby, executed by JORAM O. PETERSEN,
under the date of January 30, 1978, recorded in Official Record
Book 281, Page 1586, of the Public Records of St. Lucie County,'
I
Florida, encumbering property described therein as to the real
property hereinafter described to the mortgage and indebtedness
secured, to be given by GEORGE E. HOGAN and ELIZABETH N. HOGAN,
his wife, to FLORIDA BANK on or about the 28th day of August,
1979, in the amount of Sixty--ore Z4~ousand Five Hundred Dollars ($61,500.00).
The property, to which this Subordination Agreement
applies, is that real property owned by the said GEORGE E. HOGAN
and ELIZABETH N. HOGAN, his wife, situated in Saint Lucie County,
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BRENNAN, McALILEY, HAYSKAR 6 McALILEY, ATTOR/iEYS AT LAW, 519 SOUTH INDIAN RIVER OR., FORT PIERCE. FLA. 33480