Case Name: EUROVEST LIMITED, a foreign corporation, et al., Appellants, v. 13290 BISCAYNE ISLAND TERRACE CORP., Appellee
Court: Florida District Court of Appeal
Jurisdiction: Florida
Decision Date: 1990-03-06
Citations: 559 So. 2d 1198
Docket Number: No. 89-436
Parties: EUROVEST LIMITED, a foreign corporation, et al., Appellants, v. 13290 BISCAYNE ISLAND TERRACE CORP., Appellee.
Judges: Before BASKIN, COPE and GERSTEN, JJ.
Reporter: Southern Reporter, Second Series
Volume: 559
Pages: 1198–1199

Head Matter:
EUROVEST LIMITED, a foreign corporation, et al., Appellants, v. 13290 BISCAYNE ISLAND TERRACE CORP., Appellee.
No. 89-436.
District Court of Appeal of Florida, Third District.
March 6, 1990.
Rehearing Denied May 17, 1990.
Greenfield & Duval and Harvie S. DuVal, North Miami, for appellants.
Gilbride, Heller & Brown and Lawrence R. Heller, Miami, for appellee.
Before BASKIN, COPE and GERSTEN, JJ.

Opinion:
PER CURIAM.
The sole issue on this appeal is the priority of the mortgage held by appellant Euro-vest Limited. We affirm.
In 1972 a thirty-year first mortgage was executed by David and Roberta Kaplan in favor of Eurovest. In 1973 the Kaplans executed a mortgage in favor of Harold Solomon, as Trustee, which was due in one year. Eurovest executed a written agreement subordinating its first mortgage to the Solomon mortgage. In 1974 the Kap-lans executed a mortgage to Nathan Was-serman, due in one year. Eurovest subordinated its mortgage to the Wasserman mortgage.
When the Solomon and Wasserman mortgages came' due, the maturities on the notes were extended. Eventually litigation ensued in which Eurovest sought to foreclose its mortgage. The trial court ruled that by virtue of the subordination agreements, the Eurovest mortgage was inferior to the Solomon and Wasserman mortgages. We agree. In the circumstances present here, the granting of an extension of time does not result in a loss of priority merely on the ground of such extension. Miami Real Estate Co. v. Baxter, 98 Fla. 900, 906-07, 124 So. 452, 454 (1929); see also Williams, Salomon, Kanner & Damian v. American Bankers Life Assurance Co., 379 So.2d 119, 121 (Fla. 3d DCA 1979). Eurovest's suretyship cases, see Cole v. Exchange Nat'l Bank, 183 So.2d 195 (Fla.1966), are inapplicable here, for Eurovest is not a surety with respect to the other two mortgages.
Affirmed.
COPE and GERSTEN, JJ., concur.