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515592
SUBORDINATION AGREEMENT .
KNOW ALL MEN BY THESE PRESF.NTS~ that that certain
mortgage and indebtedness secured thereby, executed by
Clifford Barns and Mary J. Barns~ his wife (Mortgagor)
dated August 3, 1979 recorded at O.R, Sook 314~ Page 2916~
of the Public Records of St. Lucie County, Florida, to
Kenneth Drurnmond (Mortgagee) encumbering the following
described real property situated in St. Lucie County,
Florida, to wit:
Lot 7, less the North 5 feet thereof, LA VARN
SUBDIVISION~ according to the plat thereof as
recorded in Plat Book 14, Page 15, Public Records
of St. Lucie County, Florida.
At the request of the Mortgagor and in consideration of
the sum of Ten Dollars ($10.00) and other good and valuable
consideration, inuring to the undersigned Mortgagee, the
said Mortgagee does hereby subordinate the lien and operation
of the above-described mortgage, to the lien and operation of
that certain mortgage and indebtedness secured thereby, executed
by said Mortgagor, to Citizens Federal Savings & Loan Association
of St. Lucie County, dated the 6th ~ day of~ ,lanuarv ,
19 g~, and• recorded at 0. R. Book 346 , Page 300 , Public Records
of St. Lucie County, Florida, securing the principal sum of
S 148.000.00 and encumbering the above-described real
property. The undersigned does hereby subordinate his mortgage
to the said mortgage lien of Citizens Federal Savings & Loan
Association of St. Lucie County as if the said mortgage l_ien
of Citizens Federal had been signed and recorded prior to and
in advance of _the mor'tgage lien held by the undersigned.
This Subordination Agreement is being given in condition
upon the following terms and covenants-
1. The undersigned Mortgagee shall not be obligated
for the payment of any such mortgage loan given by the said
Mortgagor to said Citizens Federal Savings & Loan Association
of St. Lucie County or any part thereof.
2. In the event said Mortgagor defaults under the above-
described mortgage and promissary note secured thereby given
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