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forth in the preceding paragraph, and Erskine Florida and Erskine Con-
tracting.agree that they shall have no claim against either Pennamco
or the property so released.
9. The parties agree that the following documents shall at
all times by subordinate to the provisions of the Pennamco Note,
Mortgage, Construction Loan Agreement, Guaranty or any other documents
executed in connection with the Pennamco Loan, including any extensions
or modifications thereof.
IN WITNESS WHEREOF, the parties have hereunto affixed their
hands and seals the day and year first above written, intending to be
legally bound thereby.
Witnesses: ISLAND VILLAGE Ofi.., ~ ~l~l•~
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- ISLAND DEVELOPME~]ti~R~~~~OC*~
a Florida CorporQ~~,tjn~~Y ~
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ERSKINE FLORIDA PROPE~~' ~-tF•
a Florida .Corporation"::q ~ _
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Its. Pr s dent '
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ERSKINE CONTRACTING CORPO~tsr
ATION, an Ohio Corporati'on;:+4r~-,~''~.,"~
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Its. P e ident Y~.~. -t
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~ PENN O, INC. , a Delawar~~~.r~~~;_. 1r%~Nr,'! ,
Corporation ~
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CON N F ESC W AGE T : l~'`'~i~n~.ua~!`
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OH A. DARLSON, ESQUIRE,
,p t for Chicago Title Insurarx~e Caipany
a~320 P~~E2763 }
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