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SUBORDINATION AGREEMENT
KNOW ALL MEN BY THESE PRESENTS. that the certain mortgage
and indebtedness_secured thereby executed by JAMES I. MINIX and
riARILYN J. MINIX, his wife, Mortgagors, dated the 31st day_of
October, 1980, recorded in 0. R. Book 342, Page 1229, of the Pub lic
Records of St. Lucie County, Florida, to COSMOS DEVELOPING
ASSOCIATION, INC.. a Florida corporation, being.the same corporation
as COSMOS DEVELOPING ASSOCIATES. INC., Mortgagees, encumbering the
following described real property situate in St. Lucie County,
Florida, to wit:
Begin at the SE corner of said SW~ of SW~ of Section 30,
Township 34 South, Range 40 East, thence run West along
Che South line of said SW~ of the SW~, 333 feet to a point,
thence run North to a stake on the North line of said SW~
of the SWy; which stake is 331.2 feet West of the NE
corner of said SW~ of the SW~; thence run East along the
tdorth line of said SW~ of the SW~; 331.2 feet to the NE
corner of said S~,T 4 of the SW~; th~ence run South along the
East line of the SW4 of the SW~, 1330 feet to the point of
beginning. ~
By execution of.this Agreement, TERRY T. TORRES certifies
that the proper Mortgagee of the mortgage herein being subordinated
is COSMOS DEVELOPING ASSOCIATES, INC:, and that the use of the
name COSMOS DEVELOPING ASSOCIATION, INC. was in error.
At the request of the Mortgagors and in consideration
of $10.00 and other good and valuable consideration, inuring to
the undersigned Mortgagees, the said Mortgagees do hereby sub-
ordinate the lien and operation of the abovesaid mortgage to the
lien and operation of that certain mortgage and indebtedness
secured thereby executed by the said r:ortgagors to SOUTHEAST FIRST
NATIONAL BANK OF FORT_PIERCE, under the date of ~f~~/ day of
January, 1981, recorded in 0. R. Book ~y~ , at page ~a-~/O , of
the Public Records of St. Lucie County, Florida, securing the sum
of $49,000.00, and encumbering the above-des~ribed real property,
and the undersigned hereby subordinates its mortgage to the said
SOUTiIEAST FIRST I3ATIONAL BANK OF FORT PIERCE mortgage as if said
~ SOUTHEAST FIRST NATIONAL BANK OF FORT PIERCE mortgage had been
signed and recorded prior to and in advance of the mortgage held
by the undersigned.
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