EXHIBIT 4(n)

            EIGHTH AMENDMENT AND CONSOLIDATION OF CREDIT AND SECURITY
                                    AGREEMENT
-------------------------------------------------------------------------------

         This Eighth  Amendment  and  Consolidation  of the Credit and  Security
Agreement  (this  "Agreement")  is  made  and  entered  into as of the 13 day of
November,  1997,  by and among  YASAWA  HOLDING,  N.V., a  Netherlands  Antilles
corporation  ("Lender");  and THE DELTONA CORPORATION,  a Delaware  corporation,
DLIC, INC., a Florida  corporation,  DELTONA LAND & INVESTMENT  CORP., a Florida
corporation,  THREE  SEASONS  CORPORATION,  a Florida  corporation,  and DELTONA
CONSTRUCTION   COMPANY,   INC.   (formerly   known  as  Deltona's   Mackle-Built
Construction Company, Inc.) a Florida corporation (collectively "Borrower").

                                 R E C I T A L S

     A.  Borrower and Lender have entered  into a certain  Seventh  Amendment to
Credit and Security Agreement dated December 2, 1992 and a Mortgage and Security
Agreement dated February 1,  1994(unrecorded)  including  schedules and exhibits
thereto, as amended.

     B. Borrower and Lender  mutually agree to  consolidate  the debt due Lender
from Borrower under the Seventh Amendment to Credit and Security Agreement dated
December 2, 1992 and the Mortgage and Security  Agreement dated February 1, 1994
including schedules and exhibits thereto, as amended, hereinafter referred to as
the "Loan Instruments", into this Agreement.

     C. Certain  companies  included as Borrowers in the Loan Instruments are no
longer  active  corporations  and no  longer  participants  in  this  Agreement;
specifically,  Delainco,  Inc., an inactive Florida corporation,  Deldade,  Inc.
(formerly  known as  Deltampa,  Inc.),  an  inactive  Florida  corporation,  and
Intercoastal  Properties of St.  Augustine  Shores,  Inc.,  an inactive  Florida
corporation.

     D. The principal balance due and owing under the Loan Instruments as of the
date hereof is $12,819,791 (the "Debt").

     E.  Lender has  received  a security  interest  in certain  real  property,
fixtures and personal  property  (whether  tangible or intangible)  evidenced by
UCC-1 Financing Statements,  mortgages and notes, as more particularly described
in the Loan  Instruments and Lender will receive a security  interest in certain
additional  real property and assets of Borrower (the  "Division  Portfolio") as
further identified on Exhibits "A" and "B", annexed hereto.


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<PAGE>
     NOW  THEREFORE,  for  and in  consideration  of the  premises,  the  mutual
promises contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby  acknowledged,  the parties hereto do hereby
covenant and agree as follows:

                                    ARTICLE 1
                                   RECITATIONS
                                   -----------

     Section 1.1. Recitations.  Lender and Borrower hereby acknowledge and agree
     -----------  -----------
that each and all of the  recitations  set forth above in Paragraphs A through E
inclusive,  are true and correct and are  incorporated in this Agreement by this
reference.

     Section 1.2.  Definitions.  All  capitalized  terms used in this Agreement,
     -----------   -----------
unless otherwise defined in this Agreement,  shall have the meanings ascribed to
such terms in the Credit Agreement.

                                    ARTICLE 2
                         ACKNOWLEDGMENT OF INDEBTEDNESS
                         ------------------------------

     Section 2.1.  Borrower  hereby  acknowledges  and confirms  that the entire
     -----------
amount of the Debt as of the date of this  Agreement is  $12,819,791,  including
any  interest  and  expenses  payable  by  Borrower  to Lender  without  offset,
counterclaims or defenses.

     Section 2.2. Borrower has no defenses,  claims or offsets to payment of the
     -----------
indebtedness  evidenced by the Loan Instruments and enforcement of the mortgages
and security interest  included with the Loan  Instruments,  and Borrower waives
and  releases  any  claims,  causes  of  action  or  defenses  relating  to  the
indebtedness evidenced by the Loan Instruments, the enforcement of the mortgages
and  security  interests  and the  enforceability  of the  Loan  Instruments  in
accordance with their terms.

                                    ARTICLE 3
                           GENERAL TERMS OF SETTLEMENT
                           ---------------------------

     Section 3.1.  Obligations of Borrower and Lender. On or before November 30,
     -----------   ----------------------------------
1997,  Borrower and Lender  shall  perform all of their  obligations  under this
Agreement,  unless, if necessary,  said date is extended upon the mutual consent
of the parties hereto.

     Section 3.2.  Reduction  of Debt.  Simultaneously  with the closing of the
     -----------   ------------------
transactions  contemplated under the Asset Agreements,  and as more specifically
set forth in the Asset  Agreements,  Borrower  shall issue to Lender or Lender's
designee  4,144,602  shares of common stock of The Deltona  Corporation at $1.00
per share (par value) and shall make a cash repayment to Lender in the amount of
$1,982,457 in full  satisfaction  of the Mortgage and Security  Agreement  dated
February 1, 1994  including  schedules  and  exhibits  thereto,  as amended (the
"Second Yasawa Loan).

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<PAGE>
The  amount of the  remaining  debt  shall be reduced by Lender to the amount of
$6,692,732.  Lender agrees to execute or cause Lender's designee to execute, all
documents  necessary to release  Borrower's real and personal  property from the
lien and effect of the Loan Documents  pursuant to the requirements of the Asset
Agreements and to effect the terms and obligations under this Agreement.

     Section 3.3. Release of St. Augustine Shores Lots. Lender agrees to release
     -----------  ------------------------------------
or to cause to be released all real property in St. Augustine Shores Subdivision
from the lien and effect of the Mortgage.

     Section 3.4.  Release of Receivables.  Lender agrees to release or to cause
     -----------   ----------------------
to be released all liens on contract and mortgage receivables being purchased by
Lender or an affiliate of Lender .

     Section 3.5.  Payment of Remaining Debt.  Borrower agrees that the terms of
     -----------   -------------------------
payment to Lender of the  remaining  debt of  $6,692,732 to be secured under the
Loan Instruments shall be restructured as follows:

     (i)  Interest  will  accrue on the  remaining  debt at the rate of 9.6% per
annum.

     (ii)  Interest  on the  remaining  debt will be paid  monthly in cash or by
transferring  current contracts  receivable at 65% of face value, with recourse,
to Lender or Lender's designee, in accordance with Exhibit C attached hereto.

     (iii) Principal will be paid in accordance with Exhibit C attached  hereto.
Payments shall be made in cash or by transferring  current contracts  receivable
at face value, with recourse, to Lender or Lender's designee.

Borrower  agrees to  execute a renewal  promissory  note to  evidence  the above
payment terms and obligations.

     Section 3.6.  Future  Release of  Receivables.  Lender agrees to release or
     -----------   -------------------------------
cause to be released to Borrower the liens on receivables to enable  Borrower to
sell those  receivables to meet its  obligations  under this  Agreement.  Lender
commits to purchase, or make available an entity to purchase  receivables,  upon
Borrower's  request and subject to Borrower's  discretion,  and agrees to pay or
arrange for  payment,  for those  receivables  at the rate of 65% of face value,
with recourse.

     Section  3.7.  No  Fraudulent   Conveyance.   The  conveyances   which  are
     ------------   ---------------------------
contemplated by this Agreement are not fraudulent  conveyances  under applicable
Bankruptcy Law and such  conveyances are being made for  "reasonable  equivalent
value" as  defined in Section  548 of Title 11 of the United  States  Bankruptcy
Code.

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<PAGE>
     Section 3.8. Collateral. Borrower represents and covenants that Lender has,
     -----------  ----------
or will have upon  closing of this  Agreement,  a security  interest in all real
property in title to  Borrower,  and fixtures  and  personal  property  (whether
tangible or intangible)  belonging to Borrower as evidenced by a UCC-1 Financing
Statement,  mortgage and promissory note.  Simultaneous with the closing of this
transaction,  Borrower will execute all additional  documents  necessary to give
Lender a security interest in the Division Portfolio, previously released by the
Lender or its predecessors,  including the Consent Order Lots presently in title
to Borrower and contracts and mortgages  receivable in which Borrower retains an
interest.  The lien on Borrower's  contracts  receivable shall be subordinate to
the lien on Borrower's contracts receivables held by Scafholding, B.V.

     Section 3.9. Automatic Release of Registered Lots. Lender acknowledges that
     -----------  ------------------------------------
the real  property in title to the Borrower is currently  being offered for sale
by Borrower  and it is actively  registered  with the  Division of Florida  Land
Sales,  Condominiums and Mobile Homes. Pursuant to the Loan Instruments,  in the
event  Registered  Lots are  sold by the  Borrower  in the  ordinary  course  of
business in a  transaction  which is not exempt  under the Florida  Uniform Land
Sales  Practices  Law,  the  issuance of a Warranty  Deed by the Borrower to the
purchaser of the lot shall  automatically  release such  Registered Lot from the
lien and  effect of the  mortgage  and with the same force and effect as if such
Registered Lot had been released from the lien by a formal  release  recorded in
the  County  in which  the  released  property  is  located.  The  rights of the
purchaser  are  superior  to and take  priority  over the lien and effect of any
mortgage.  In the event a Warranty Deed is issued by the Borrower to a purchaser
of property  prior to payment in full of the purchase price by the purchaser and
the  purchaser  executes a mortgage in favor of the  Borrower for the balance of
the purchase price,  said mortgage will be collaterally  assigned by Borrower to
Lender pursuant to Section 3.8 hereof. The provisions of this paragraph shall be
binding upon any purchaser at a foreclosure  sale and any person acquiring title
to such  land  shall be bound to convey  legal  title to such  purchaser  who is
entitled to a deed under the terms of their Agreement of Purchase and Sale.

                                    ARTICLE 4
                    REPRESENTATIONS, WARRANTIES AND COVENANTS
                    -----------------------------------------

     Section 4.1.  Transactions not Prohibited.  Borrower is not prohibited from
     -----------   ---------------------------
entering  into this  Agreement or  consummating  the  transactions  contemplated
hereby by any law, regulation,  agreement,  instruction,  restriction,  order or
judgment.  Likewise,  the execution and  performance  of this Agreement will not
modify  (except  with  respect to the Loan  Documents  as  provided  herein) any
obligation of Borrower,  or constitute (with or without notice or the passage of
time or both) a default or violation  of or under,  or conflict  with,  any law,
rule, regulation,  order, judgment,  indenture,  contract,  security instrument,
permit,  lease  or other  agreement  to  which  Borrower  is a party or to which
Borrower is bound.

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<PAGE>
     Section 4.2.  Organization.  The Deltona Corporation is a corporation which
     -----------   ------------
is duly organized and validly  existing under the laws of the State of Delaware.
Each  other  entity  comprising  the  Borrower  is a  corporation  which is duly
organized and validly existing under the laws of the State of Florida.

     Section  4.3.  Authority.  Borrower  has full  power,  legal  capacity  and
     ------------   ---------
authority to enter into and perform this Agreement.  All proceedings required to
be taken and all consents  required to be obtained by Borrower to authorize  the
execution  of this  Agreement  have  been  properly  taken  and  obtained.  This
Agreement  constitutes  a legal,  valid  and  binding  obligation  of  Borrower,
enforceable   against  Borrower  in  accordance  with  its  terms,   subject  to
bankruptcy,  and other laws  generally  affecting the  enforcement of creditors'
rights,  Similarly,  the  documents  contemplated  to be  executed  by  Borrower
pursuant to this Agreement  will,  upon  execution and delivery,  constitute the
legal, valid and binding obligations of Borrower, enforceable in accordance with
their respective terms, subject to bankruptcy and other laws generally affecting
the enforcement of creditors' rights.

                                    ARTICLE 5
                           ACKNOWLEDGMENTS OF BORROWER
                           ---------------------------

     Section 5.1. Free and  Voluntary  Act.  Borrower is freely and  voluntarily
     -----------  ------------------------
entering into this Agreement.  One or more responsible  officers of the Borrower
individually have read this Agreement and have discussed this Agreement with its
legal, financial and other counsel.

     Section  5.2. No Implied  Terms.  Any and all duties and  obligations  that
     ------------  -----------------
Lender or Lender's designees may have to Borrower are limited to those expressly
stated in this  Agreement  and neither the duties and  obligations  of Lender or
Lender's  designees nor the rights of the Borrower shall be expanded  beyond the
express terms of this Agreement.

     Section 5.3.  Fair  Consideration.  The  agreements  of Lender and Lender's
     -----------   -------------------
designees  as  are  contained  herein  and in the  Asset  Agreements  constitute
valuable,  adequate  and fair  consideration  for the  obligations  of  Borrower
hereunder.

     Section 5.4. No Other Representation. Borrower acknowledges and agrees that
     -----------  -----------------------
neither  Lender  nor any  person or entity  acting  on its  behalf  has made any
representation or promise to Borrower which is not expressly set forth herein.

                                    ARTICLE 6
                                  MISCELLANEOUS
                                  -------------

     Section 6.1. Lender's Authority.  Lender hereby represents to Borrower that
     -----------  ------------------
Lender has full power and lawful authority to execute this Agreement.

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<PAGE>
     Section 6.2. Captions. The captions and headings used in this Agreement are
     -----------  --------
for convenience of reference only and do not in any way affect,  limit,  amplify
or modify the terms or provisions of this Agreement.

     Section  6.3.  Counterpart  Execution.  This  Agreement  may be executed in
     ------------   ----------------------
several counterparts,  each of which shall constitute an original,  but together
such counterparts shall constitute one and the same instrument.

     Section 6.4.  Survival.  Each and every  provision of this Agreement  shall
     -----------   --------
survive the execution hereof.

     Section   6.5.   Notices.   All   demands,   notices,   requests  or  other
     -------------    -------
communications  required or  permitted  hereby  shall be in writing and shall be
deemed to be delivered  when  actually  received by the  relevant  party at such
address  as set forth  below or at such  other  address  as such  party may have
specified to the other  parties  hereof by notice  delivered  and received by in
accordance with this section.

As to Lender:              Yasawa Holding, N.V.
                           c/o Zarf Trust Corporation N.V., Director
                           Plaza Jojo Correa 1-5
                           PO Box 897
                           Willemstad, Curacao
                           Netherlands Antilles

As to Borrower:            The Deltona Corporation
                           999 Brickell Avenue, Suite 700
                           Miami, Florida 33131
                           Attention: President and Chief Operating Officer

     Section 6.6. Successors and Assigns. This Agreement and any other documents
     -----------  ----------------------
executed  in  connection  herewith  shall inure to the benefit of and be binding
upon the parties hereto and their permitted legal;  representatives,  successors
and assigns.

     Section 6.7. Time;  Construction;  Exhibits. Time is of the essence in each
     -----------  ------------------------------
provision  of  this  Agreement.  All  references  to  the  singular  or  plural,
masculine, feminine or neuter gender shall, as the context requires, include all
others.  All exhibits hereto are by this reference paid a part of this Agreement
for all purposes.  All  references to sections,  paragraphs  and exhibits are to
this  Agreement  unless  otherwise  specifically  noted.  The  use of  "hereof",
"hereunder",  "herein"  and words of similar  import  shall refer to this entire
Agreement  and not to any  particular  section,  paragraph  or  portion  of this
Agreement unless otherwise specifically noted.

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<PAGE>
     Section  6.8.  Applicable  Law.  This  Agreement,  including  exhibits  and
     ------------   ---------------
schedules hereto,  and any other Loan Documents shall be construed in accordance
with and governed by the laws of the State of Florida.

     Section 6.9. Fees and Expenses.  If any legal action,  arbitration or other
     -----------  -----------------
proceeding is commenced to enforce or interpret any provision of this Agreement,
the prevailing  party shall be entitled to an award of its  reasonable  fees and
expenses,  including,  without  limitation,  attorneys'  fees and  disbursements
(including  fees of paralegal  and fees on appeal),  expert  witness  fees,  and
disbursements.  The term  "prevailing  party" shall include a party who receives
substantially  the relief  desired,  whether by settlement,  dismissal,  summary
judgement, judgment or otherwise.

     Section  6.10.  Severability.  If for  any  reason  any  provision  of this
     -------------   ------------
Agreement shall be held to be invalid,  illegal or unenforceable,  the validity,
legality and enforceability of the remaining  provisions shall not in any way be
affected or impaired thereby.

     Section 6.11. Authority. Each individual executing this Agreement on behalf
     ------------  ---------
of any  party  to  this  Agreement  represents  and  warrants  that he or she is
authorized  to enter into this  Agreement  on behalf of that party and that this
Agreement binds that party.

     Section 6.12. Parties in Interest. Nothing in this Agreement is intended to
     ------------  -------------------
confer any rights or remedies under or by reason of this Agreement on any person
other than the  parties  hereto and their  respective  permitted  successors  or
assigns,  nor is anything in this Agreement intended to relieve or discharge any
obligation of any third party or any party hereto or to give any third party any
right to subrogation or action over or against any party of this Agreement.

     Section 6.13. Restriction on Assignment.  This Agreement nor any instrument
     ------------  -------------------------
relating to the  remaining  debt may be assigned to any party  without the prior
written consent of the Borrower's Board of Directors.

     Section 6.14.  Lender's and Borrower's Costs.  Lender shall pay the cost of
     ------------   -----------------------------
all documentary stamps,  intangible taxes and recording costs in connection with
the transactions  contemplated under this Agreement.  In addition,  Lender shall
pay the costs and legal  fees  incurred  by  Lender  or  Lender's  designee  for
Lender's attorney for this  transaction.  Borrower shall pay the costs and legal
fees incurred by Borrower for Borrower's  attorney for this  transaction and the
transactions under the Asset Agreements.

     Section 6.15. Credit Agreement. Except as specifically modified herein, the
     ------------  ----------------
Credit  Agreement shall remain in full force and effect and Borrower does hereby
re-affirm all terms and covenants of the Credit Agreement.


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<PAGE>
     Section 6.16.  Contingencies.  The  obligations  of Borrower and Lender and
     ------------   -------------
Lender's  designees under this Agreement are expressly subject to receipt of the
written approval of the Division of Florida Land Sales,  Condominiums and Mobile
Homes  for the  transactions  evidenced  by this  Agreement;  a  release  of the
Division's lien on The Deltona Corporation's  receivables;  and a release of the
mortgage  held by the  Division of Florida Land Sales,  Condominiums  and Mobile
Homes on certain real property owned by Borrower.

     IN WITNESS  WHEREBY,  this  Agreement  was made and executed as of the date
first above written.

                                    YASAWA HOLDING, N.V.


                                    BY: /s/ R.  De Meza
                                       ----------------------------------------
                                    R. De Meza for Zarf Trust Corporation N.V.,
                                    Director

                                    THE DELTONA CORPORATION
                                    DLIC, INC.
                                    DELTONA LAND & INVESTMENT CORP.
                                    THREE SEASONS CORPORATION
                                    DELTONA CONSTRUCTION COMPANY, INC



                                    BY: /s/ Earle D.  Cortright, Jr.
                                        ---------------------------------------
                                    Earle D. Cortright, Jr., President

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