EXHIBIT 4(s)
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                  Citrus County

        KNOW ALL MEN BY THESE PRESENTS, that SELEX INTERNATIONAL B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Citrus County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in  Official  Records  Book 992 at Pages  350
          through  395, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993, recorded August 18, 1993 in Official Records Book 995,
          at Pages 1290 through  1310;  Second Notice of Future  Advance,  dated
          August 19, 1993,  recorded September 13, 1993 in Official Records Book
          998, at Pages 2071 through 2075; Third Notice of Future Advance, dated
          September 29, 1993, in amount of  $1,510,000.00,  recorded  October 6,
          1993 in Official  Records Book 1002, at Pages 468 through 473;  Fourth
          Notice of Future Advance,  dated December 30, 1993,  recorded March 2,
          1994 in Official  Records Book 1022, at Pages 1654 through 1659; Fifth
          Notice  of Future  Advance,  dated  December  30,  1993,  in amount of
          $300,000.00,  recorded March 2, 1994 in Official Records Book 1022, at
          Pages 1660 through 1665, and any further  amendments or  modifications
          thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 992 at Pages 335 through 349;



                                 Page One of Two
<PAGE>
     HEREBY  ACKNOWLEDGES  full  payment  and  satisfaction  of said  notes  and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

     Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]


Signed, sealed and delivered
 in the presence of:                      SELEX INTERNATIONAL B.V.,
                                          a company organized under the laws of
                                          the Netherlands
/s/ Sharon Hummerhielm
-------------------------------
Witness: Sharon Hummerhielm


/s/ Nancy Roche                           By:/s/ Rudy M. Gram
-------------------------------              -------------------------------
Witness: Nancy Roche                         RUDY M. GRAM, Attorney-In-Fact
                                             49 Shores Boulevard,
                                             St. Augustine Shores, FL 32086


STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November,  1997, by RUDY M. GR M, Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the  laws of the  Netherlands,  on  behalf  of the
corporation. He is personally known to me.


                                             /s/ Nancy Roche
                                             -----------------------------------
                                                                   Notary Public



                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                 Collier County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Collier County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in Official  Records  Book 1848 at Pages 2340
          through 2382, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993,  recorded  August 18,  1993 in Official  Records  Book
          1856,  at Pages 2249 through 2269;  Second  Notice of Future  Advance,
          dated August 19, 1993, recorded September 13, 1993 in Official Records
          Book 1864, at Pages 1111 through 1115; Third Notice of Future Advance,
          dated September 29, 1993, in amount of $1,510,000.00, recorded October
          6, 1993 in  Official  Records  Book 1872,  at Pages 532  through  537;
          Fourth Notice of Future  Advance,  dated  December 30, 1993,  recorded
          March 2, 1994 in Official  Records  Book 1919,  at Pages 1301  through
          1306;  Fifth Notice of Future  Advance,  dated  December 30, 1993,  in
          amount of $300,000.00, recorded March 2, 1994 in Official Records Book
          1919,  at Pages 1307  through  1312,  and any  further  amendments  or
          modifications thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 1848 at Pages 2383 through 2394;



                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:

                                           SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands
/s/ Sharon Hummerhielm
-------------------------------
Witness Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
-------------------------------               ---------------------------------
Witness                                       RUDY M. GRAM, Attorney-In-Fact
                                              49 Shores Boulevard,
                                              St. Augustine Shores, FL 32086


STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by RUDY M. GRAM,  Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the  laws of the  Netherlands,  on  behalf  of the
corporation. He is personally known to me.


                                             /s/ Nancy Roche
                                             -----------------------------------
                                                                  Notary Public


                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                 Hernando County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Hernando County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in  Official  Records  Book 923 at Pages 1299
          through 1341, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993, recorded August 18, 1993 in Official Records Book 927,
          at Pages 408  through  428;  Second  Notice of Future  Advance,  dated
          August 19, 1993,  recorded September 13, 1993 in Official Records Book
          930, at Pages 1919 through 1923; Third Notice of Future Advance, dated
          September 29, 1993, in amount of  $1,510,000.00,  recorded  October 6,
          1993 in Official Records Book 934, at Pages 1130 through 1135;  Fourth
          Notice of Future Advance,  dated December 30, 1993,  recorded March 2,
          1994 in Official  Records Book 956, at Pages 1275 through 1280;  Fifth
          Notice  of Future  Advance,  dated  December  30,  1993,  in amount of
          $300,000.00,  recorded March 2, 1994 in Official  Records Book 956, at
          Pages 1281 through 1286, and any further  amendments or  modifications
          thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 923 at Pages 1342 through 1353;


                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:

                                           SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands
/s/ Sharon Hummerhielm
-------------------------------
Witness  Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
-------------------------------               ---------------------------------
Witness Nancy Roche                           RUDY M. GRAM, Attorney-In-Fact
                                              49 Shores Boulevard,
                                              St. Augustine Shores, FL 32086


STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by RUDY M. GRAM,  Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the  laws of the  Netherlands,  on  behalf  of the
corporation. He is personally known to me.


                                             /s/ Nancy Roche
                                             -----------------------------------
                                                                   Notary Public



                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                  Marion County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Marion County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in Official  Records  Book 1944 at Pages 1382
          through 1478, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993,  recorded  August 18,  1993 in Official  Records  Book
          1951,  at Pages 1168 through 1242;  Second  Notice of Future  Advance,
          dated August 19, 1993, recorded September 13, 1993 in Official Records
          Book 1958, at Pages 382 through 386;  Third Notice of Future  Advance,
          dated September 29, 1993, in amount of $1,510,000.00, recorded October
          6, 1993 in Official  Records Book 1965,  at Pages 1130  through  1135;
          Fourth Notice of Future  Advance,  dated  December 30, 1993,  recorded
          March 2, 1994 in Official  Records  Book 2010,  at Pages 1063  through
          1068;  Fifth Notice of Future  Advance,  dated  December 30, 1993,  in
          amount of $300,000.00, recorded March 2, 1994 in Official Records Book
          2010,  at Pages 1069  through  1074,  and any  further  amendments  or
          modifications thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 1944 at Pages 1479 through 1544;



                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:

                                           SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands
/s/ Sharon Hummerhielm
-----------------------------
Witness  Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
-----------------------------                 ---------------------------------
Witness Nancy Roche                           RUDY M. GRAM, Attorney-In-Fact
                                              49 Shores Boulevard,
                                              St. Augustine Shores, FL 32086


STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by RUDY M. GRAM,  Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the laws of the  Nethe  lands,  on  behalf  of the
corporation. He is personally known to me.

                                             /s/ Nancy Roche
                                            ------------------------------------
                                                                   Notary Public



                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                St. Johns County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of St. Johns County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in  Official  Records  Book 1003 at Pages 706
          through  764, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993,  recorded  August 18,  1993 in Official  Records  Book
          1006,  at Pages 1615 through 1649;  Second  Notice of Future  Advance,
          dated August 19, 1993, recorded September 13, 1993 in Official Records
          Book 1010, at Pages 1436 through 1440; Third Notice of Future Advance,
          dated September 29, 1993, in amount of $1,510,000.00, recorded October
          6, 1993 in Official  Records Book 1014,  at Pages 1228  through  1233;
          Fourth Notice of Future  Advance,  dated  December 30, 1993,  recorded
          March 2, 1994 in Official Records Book 1040, at Pages 798 through 803;
          Fifth Notice of Future Advance,  dated December 30, 1993, in amount of
          $300,000.00,  recorded March 2, 1994 in Official Records Book 1040, at
          Pages 804 through 809,  and any further  amendments  or  modifications
          thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 1944 at Pages 1479 through 1544;



                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.



                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:                       SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands

/s/ Sharon Hummerhielm
------------------------------
Witness  Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
------------------------------                -------------------------------
Witness  Nancy Roche                          RUDY M. GRAM, Attorney-In-Fact
                                              49 Shores Boulevard,
                                              St. Augustine Shores, FL 32086

STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by cDY M. GRAM, Attorney-In-Fact for SELEX INTERNATIONAL B.V., a
company  organized  under  the  laws  of  the  Netherlands,  on  behalf  of  the
corporation. He is personally known to me.


                                              /s/ Nancy Roche
                                              ----------------------------------
                                                                  Notary Public



                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                 Volusia County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Volusia County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in Official  Records  Book 3844 at Pages 4160
          through 4218, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993,  recorded  August 18,  1993 in Official  Records  Book
          3851, at Pages 359 through 378; Second Notice of Future Advance, dated
          August 19, 1993,  recorded September 13, 1993 in Official Records Book
          3857,  at Pages 2576 through  2580;  Third  Notice of Future  Advance,
          dated September 29, 1993, in amount of $1,510,000.00, recorded October
          6, 1993 in  Official  Records  Book 3864,  at Pages 441  through  446;
          Fourth Notice of Future  Advance,  dated  December 30, 1993,  recorded
          March 2, 1994 in Official Records Book 3903, at Pages 441 through 446;
          Fifth Notice of Future Advance,  dated December 30, 1993, in amount of
          $300,000.00,  recorded March 2, 1994 in Official Records Book 3903, at
          Pages 447 through 452,  and any further  amendments  or  modifications
          thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 3844 at Pages 4219 through 4246;


                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:

                                           SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands

/s/ Sharon Hummerhielm
----------------------------------
Witness  Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
----------------------------------            ---------------------------------
Witness                                        RUDY M. GRAM, Attorney-In-Fact
                                               49 Shores Boulevard,
                                               St. Augustine Shores, FL 32086


STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by RUDY M. GRAM,  Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the  laws of the  Netherlands,  on  behalf  of the
corporation. He is personally known to me.


                                                /s/ Nancy Roche
                                               ---------------------------------
                                                                  Notary Public





                                 Page Two of Two
<PAGE>
This instrument prepared by:
James P. Paul, Esq.
HALEY, SINAGRA & PEREZ, P. A.
100 South Biscayne Blvd., Suite 800
Miami, Florida 33131

                SATISFACTION OF MORTGAGE and FINANCING STATEMENT
                ------------------------------------------------
                                Washington County

     KNOW ALL MEN BY THESE PRESENTS,  that SELEX  INTERNATIONAL  B.V., a company
organized  under  the laws of the  Netherlands,  (Mortgagee),  is the  owner and
holder of a  certain  mortgage  deed  executed  by THE  DELTONA  CORPORATION,  a
Delaware  corporation,  DLIC, INC.,  DELAINCO,  INC, DELTONA LAND AND INVESTMENT
CORP.,  DELDADE,   INC.,  DELTONA  CONSTRUCTION  COMPANY,   INC.,   INTERCOASTAL
PROPERTIES OF ST. AUGUSTINE  SHORES,  INC., and THREE SEASONS  CORPORATION,  all
Florida   corporations,   999  Brickell  Avenue,  Suite  700,  Miami,  FL  33131
("Mortgagor") in favor of SELEX INTERNATIONAL,  B. V. a Netherlands corporation,
securing a certain  Balloon  Promissory Note in the principal sum of $550,000.00
dated as of July 14, 1993 ("Original Note"); a Future Advance Balloon Promissory
Note in the  principal  amount  of  $170,000.00  dated as of August 5, 1993 (the
"Second Note"); a Future Advance Balloon  Promissory Note dated as of August 19,
1993 in the principal amount of  $1,000,000.00  ("Third Note"); a Future Advance
Balloon  Promissory Note dated as of September 29, 1993 in the principal  amount
of $1,510,000.00  (the "Fourth Note"); a Future Advance Balloon  Promissory Note
dated as of November 11, 1993 in the  original  principal  amount of  $790,00.00
(the  "Fifth  Note");  and a  Future  Advance  Promissory  Note in the  original
principal amount of $300,000.00 dated December 30, 1993 ("Sixth Note");  and all
promises  and  obligations   set  forth  in  said  mortgage,   and  any  further
encumbrances  upon the property  described in said  mortgage and  modifications,
recorded as follows in the Public Records of Washington County, Florida:

1.        That  certain  Mortgage and  Security  Agreement  dated July 14, 1993,
          recorded  July 26,  1993 in  Official  Records  Book 260 at Pages  910
          through 1166, in the original  principal  amount of  $550,000.00;  and
          Notice of Future Advance and Corrective Mortgage  Modification,  dated
          August 5, 1993, recorded August 18, 1993 in Official Records Book 260,
          at Pages 2227 through  2424;  Second Notice of Future  Advance,  dated
          August 19, 1993,  recorded September 14, 1993 in Official Records Book
          261, at Pages 718 through 722; Third Notice of Future  Advance,  dated
          September 29, 1993, in amount of  $1,510,000.00,  recorded October 15,
          1993 in Official Records Book 261, at Pages 1645 through 1650;  Fourth
          Notice of Future Advance,  dated December 30, 1993,  recorded March 9,
          1994 in Official  Records Book 263, at Pages 1459 through 1464;  Fifth
          Notice  of Future  Advance,  dated  December  30,  1993,  in amount of
          $300,000.00,  recorded March 9, 1994 in Official  Records Book 263, at
          Pages 1465 through 1470, and any further  amendments or  modifications
          thereof.

2.        That certain Financing  Statement  recorded July 26, 1993, in Official
          Records Book 260 at Pages 1167 through 1393;



                                 Page One of Two
<PAGE>
         HEREBY  ACKNOWLEDGES  full payment and  satisfaction  of said notes and
mortgage  deed, and surrender the same as cancelled and hereby directs the Clerk
of the said Court to cancel the same of record.

         Witness my hand and seal this 13 day of November, 1997.


                                                                          [Seal]
Signed, sealed and delivered
 in the presence of:

                                           SELEX INTERNATIONAL B.V.,
                                           a company organized under the laws of
                                           the Netherlands
/s/ Sharon Hummerhielm
----------------------------------
Witness  Sharon Hummerhielm


/s/ Nancy Roche                            By:/s/ Rudy M. Gram
----------------------------------            ---------------------------------
Witness  Nancy Roche                          RUDY M. GRAM, Attorney-In-Fact
                                              49 Shores Boulevard,
                                              St. Augustine Shores, FL 32086

STATE OF FLORIDA
COUNTY OF DADE

     The  foregoing  instrument  was  acknowledged  before  me this  13th day of
November, 1997, by RUDY M. GRAM,  Attorney-In-Fact for SELEX INTERNATIONAL B.V.,
a  company  organized  under  the  laws of the  Netherlands,  on  behalf  of the
corporation. He is personally known to me.


                                              /s/ Nancy Roche
                                              ----------------------------------
                                                                  Notary Public




                                 Page Two of Two
<PAGE>