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SUBORDINATION AGREEMENT ,~' ~5~~
THIS SUBORDINATION AGREEMENT executed the /(G ~ay of
~ ,1980 by LARRY E. LEWIS as to an undivided one-
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half interest, WILLiAM C. REEVES as to an undivided one-quarter
interest and FRITZ STALQUIST as to an undivided one-quarter interest
i n f avor o f _ LST A1~RICAN g~HIt pF pp~IM gF,ACI.~ opLNt+y , q Ol No 1 ake ~,~ p~,-r~ ~
North PaLn Beach, Florida 33408
WHEREAS Larry E. Lewis, William C. Reeves and Fritz
Stalquist, the owners and holders of
indebtedness secured thereby executed
date February 8, 1980 and recorded in
at Page 2924 of the Public Records of
encumbering the real property situate
described as follows:
that certain Mortgage and
by Robert Nelson under
Official Record Book 325
St.Lucie County, Florida
in St. Lucie County,Florida
East 1/2 of the following described property: The South
259.64 feet of that part of the South 1/2 of the Southwest
1/4 of Section 15, Township 35 South, Range 40 East,
bounded on the South by the 130 foot right of way for
Virginia Avenue, on the East by the 80 foot right of way
for Oleander Boulevard, on the North by the 50 foot right
of way for Southern Avenue and on the West by the 50 foet
right of way for South lOth Street.
at the request of 1ST AMERICAN BANK OF_PALM B~ACH COUtJTY. North Palm
Beach, Florida 33408 and in consideration of the sum of Ten ($10.00)
Dollars and other valuable consideration inuring to the under-
signed from 1ST AMERICAN BANK OF PALM BEACH COt1NTY, North Palm
Beach, Florida
does hereby subordinate the lien
and op~ration of said Mortgage to the lien and operation of that
certain Mortgage and indebtedness secured thereby executed by
Robert Nelson in favor of 1ST AMERICAN BANK OF PALM BEACH COUNTY
under date of ~Ew~BEI~ 24 /9~o recorded in
O. R. Book '~4~ Page 2 ~ 87 of the Public Records of St. Lucie County,
Florida securing the sum of $ S7S DOO.oa and encumbering the
above-described property in the same manner and effect as if said
Mortgage had been dated and filed for Public Record prior to and
in advance of the Mortgage held by the undersigned which is hereby
subordinated.
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