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AGES nac3e this day of July,-1980 by and between '
JOEIlV D. BOOFNIIJG and VIAGIlJIA BI~JING, his wife, hereinafter referred _
to "Mortgagee", and DICK ALBERT E[~7CPRIC, Il~]C., a Florida oorporatian,
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hereinafter referred t4 as "Mortgagor" and Florida Bank at Fort Pierce,
a Florida banking corporation, hereinafter referred to as "Bank".
S, Mortgagor has applied to Bank for an extension of
credit; and
WF~E2EAS, Mortgagee is the owner and holder of a note dated
June 1, 1978, from Mortgagor, the payment of which is secured by a
mortgage upon real property located in Saint Lucie County, Florida,
tmre particularly described as follows:
~e East 1/2 of Lots 19, 20 and 21, HIQR~t~D AVII~[JE BEIrd~ft'S,
according to the plat thereof on file in Plat Book 4, Page
81, the public records o£ Saint Lucie Cotuity, Florida.
which mortgage is dated June 1, 1978, and is revoxded in OR Book 288,
Paces 1500, of the public records of Saint Lucie dainty, Florida; and }
WEII:REAS, in order to induce Bank to extend credit to Mortgagor,
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~ I~brtgagor mast give a first lien status to Bank; and
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! Wf~REAS, Mortgagee is desirou.4 and willing to subordinate
the indebtedness and security for the payment of the same of Mortgagor
to Nbrtgagee to the ~i,rx3ebtedness and mortgage of Mortgagee to Bank.
NC7W, therefore, it is mitually covenanted and agreed that .
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the lien of. the tfortgage,~and ind~tedness secured thereby, of DICK
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! ALBIIZ'P ELDC`IRIC, INC . to JOEII~I D . BI~OG+~IING, and VI~INIA B%JhNING, his
wife, dated June 1, 1978, and recorded in OR Book 288, Page 1500, of
the public records of Saint Lucie County, Florida, i.s hereby subor-
dinated and made junior to the lien of the Mortgage from DICK ALBERT
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~ ELDCI~2IC, INC. , F iC~ M. ALBERT, and PATRICIA AIBEEtT, his wife, and
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the indebtedness secured thereby, which mortgage is reoorrled in OR
Book 33~,Page 3,T`l, of the public =records of Saint Lucie Coiuity,
Florida and the Mortgagee hereby waives presentment, demand and notice .
of default with respect to any default in the indebtedness or mortgage
from DICK ALBERT F~DG'I'EtTC, INC. , RIC~RD M. ALBII~T and PATRICIA ALBERT,
i ~ his wife, to FIAR7.GA EiANIC ~ FORT PIF~CE. G
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f ccam~.
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