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SUBORDINATION AGREEMENT ~~j'72"f
KNOW ALL MEN BY THESE PRESENTS, that the certain mortgage and /
indebtedness secured thereby executed by Patrick Donnelly ar,d June C.~
Donnelly, his wife, dated August 4, 1977, recorded at O.R. Book 272,
Page 197, of the public records of St. Lucie County, Florida, to
John W. Leachman and Helen B. Leachman, his wife, and which mortgage
was modified by Modification Agreement dated January 15, 1979,
between John W. Leachman and Helen B. Leachman, his wife, and
Vincent Lino Anthony Lino and Michael•Altino, recorded at O.R.
Book 302, Page 1141, of the Public Records of St. Lucie County,
Florida, encumbering the following described real property situate
in St. Lucie County, Florida:
Beginning at a point 1,538 feet North of the Southeast corner,
S 22, T 36 S, R 40 E, running SW on the S line of the parcel of
land heretofore conveyed to E. G. Beckman, et ux (as recorded
in Deed Book 139, Page 67, of the Public Records of St. Lucie
County, Florida) to the E right of way of U.S. Highway ~1;
thence running SE alor>rg said right of way the distance of•
175 feet to the POB the tract herein conveyed; thence con -
tinuing SE along said right of way a distance of 175 feet;
thence running NE and parallel to the said Becianan line a
distance of 300 feet; thence running NW and parallel to the
Easterly right of way line of said U.S. Highway ~kl a distance
of 175 feet, more or less, thence running SW and parallel
to the said Beckman line aforesaid a distance of 300 feet to
the POB.
At the request of the mortgagor and in consideration of $10.00 and
other good and valuable considerations, inuring to the undersigned, the
undersigned being the ower and holder of said mortgage does hereby sub-
ordinate the lien and operation and effect of the abovesaid mortgage,
to the lien and operation and effect of that certain mortgage and
indebtedness secured thereby executed by Kings Plaza, Inc. to Citizens
Federal Savings & Loan Association of St. Lucie County, under the
date of October 8, 1979, recorded at O.R. Book 318, Page 570,
of the Public Records of St Lucie County, Florida, securing the
sum of $250,000.00,
sdn~nr~®~mat~ encumbering the above-described real property; and the
undersigned hereby subordinates its said mortgage to said mortgage of
Citizens Federal as if the said mortgage Citizens Federal had been
signed and recorded prior to and in advance of the mortgage held by the
j undersigned.
IN WITNESS WH~REOF the undersigned has executed this Subordination
Agreement this 29th day of October, 1979.
~ Signed, sealed and delivered
~ in the presence of :
- ~ ~ ~ J n W . Leachman
_r
~ a,11~~ EAL)
~u~~ ~ - ~ ~ He en B . Leac man
STATE OF FLORIDA
COUNTY OF ST. LUCIE
I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in ..the state and county last aforesaid to take acknowledgments,
personally appeared JOHN W. LEACHMAN and HELEN B. LEACHMAN, his wife,
to me known to be the persons described in and who executed the foregoing
instrument and that they acknowledged before me that *hPy Pxecnted the
same.
WITNESS My hand and official seal in the County and State last
aforesaid this 29th day of October 1979.
~ 9 ti~~ : 13 P'•~ 2• : ;3
~ SLIt?Ctl: CG_~NTY.F`: VF ~ _
RL'GFR POITHAS
rLFl~ Cl~ ~illT l'_~U'a ..~,~...1r G~.X~
r:-_;t;~ti•~i•- _ ~ ,u is - State ~o F on a
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THIS INSTRUMENT PREPARED BY: - C~ -
I~~~s_sion expires : ~ .
• _
S''•01T M. RENNET =;r ~ - ~ y
A~.:-7~T at Law -~7~•~;:r~~.~si~'C=
~
515 S. iNOiAN RIYER 1M. .''~.,,ST;; ~
ET. FIERCE, FL 3350 „tt