Document:

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                                                                  EXHIBIT 10.110

                                  CLASS B NOTE

REGISTERED                                                           $25,578,000
No. R-2

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION ("BLUE SKY LAWS") OF THE UNITED STATES. BY ITS
ACCEPTANCE OF THIS NOTE THE HOLDER OF THIS NOTE IS DEEMED TO REPRESENT TO THE
INDENTURE TRUSTEE, THE ISSUER AND THE SERVICER THAT IT (i) IS A "QUALIFIED
INSTITUTIONAL BUYER" WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A
"QIB") AND IS ACQUIRING SUCH NOTE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT
OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBS) TO
WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR
(ii) IS OTHERWISE ACQUIRING THIS NOTE IN A TRANSACTION EXEMPT FROM THE
SECURITIES ACT AND APPLICABLE BLUE SKY LAWS.

NO RESALE, PLEDGE OR OTHER TRANSFER OF THIS NOTE (OR ANY INTEREST HEREIN) MAY BE
MADE BY ANY PERSON UNLESS (i) SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, SUCH RESALE, PLEDGE OR OTHER
TRANSFER IS MADE TO A PERSON WHOM THE TRANSFEROR REASONABLY BELIEVES AFTER DUE
INQUIRY IS A QIB ACTING FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS)
OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBs) TO WHOM
NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A AND, IN ANY CASE, IN TRANSACTIONS UNDER AND IN COMPLIANCE WITH RULE
144A OR (ii) SUCH RESALE, PLEDGE OR OTHER TRANSFER IS OTHERWISE MADE IN A
TRANSFER EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
APPLICABLE BLUE SKY LAWS, IN WHICH CASE THE INDENTURE TRUSTEE SHALL REQUIRE (A)
THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE TRANSFEREE CERTIFY TO
THE ISSUER IN WRITING THE FACTS SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION
SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER, AND (B) A WRITTEN
OPINION OF COUNSEL (WHICH SHALL NOT BE AT THE EXPENSE OF THE ISSUER, THE
SERVICER OR THE INDENTURE TRUSTEE) SATISFACTORY TO THE INDENTURE TRUSTEE AND THE
ISSUER TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE

<PAGE>   2

SECURITIES ACT OR APPLICABLE BLUE SKY LAWS. ANY ATTEMPTED TRANSFER IN
CONTRAVENTION OF THE IMMEDIATELY PRECEDING RESTRICTIONS WILL BE VOID AB INITIO
AND THE PURPORTED TRANSFEROR WILL CONTINUE TO BE TREATED AS THE OWNER OF THE
NOTES FOR ALL PURPOSES. THE PROSPECTIVE TRANSFEROR AND PROSPECTIVE TRANSFEREE,
JOINTLY AND SEVERALLY, AGREE TO INDEMNIFY THE ISSUER, THE INDENTURE TRUSTEE, THE
TRUST DEPOSITOR, BLUEGREEN CORPORATION AND THEIR RESPECTIVE AFFILIATES AGAINST
ANY LIABILITY SUCH PERSON MAY SUFFER AS A RESULT OF A TRANSFER OF A NOTE NOT IN
COMPLIANCE WITH ALL APPLICABLE SECURITIES LAWS.

THIS NOTE (AND ANY INTEREST HEREIN) MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF
(i) AN "EMPLOYEE BENEFIT PLAN" (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED, ("ERISA")), THAT IS SUBJECT
TO THE PROVISIONS OF TITLE I OF ERISA, (ii) A PLAN DESCRIBED IN SECTION
4975(e)(1) OF THE CODE OR (iii) ANY ENTITY WHOSE UNDERLYING ASSETS INCLUDE PLAN
ASSETS BY REASON OF A PLAN'S INVESTMENT IN THE ENTITY UNLESS THE PURCHASE AND
HOLDING OF THE NOTE WILL NOT GIVE RISE TO A NONEXEMPT PROHIBITED TRANSACTION
UNDER ERISA OR THE CODE. BY ACCEPTING AND HOLDING THIS NOTE (OR ANY INTEREST
HEREIN), THE HOLDER HEREOF SHALL BE DEEMED TO HAVE REPRESENTED AND WARRANTED
THAT EITHER (A) IT IS NOT A BENEFIT PLAN OR (B) SUCH PURCHASE AND HOLDING WILL
NOT RESULT IN A NONEXEMPT PROHIBITED TRANSACTION UNDER SECTION 406(A) OF ERISA
OR SECTION 4975 OF THE CODE.

THIS NOTE HAS BEEN ISSUED PURSUANT TO THE TERMS OF THE INDENTURE (AS DEFINED
BELOW). BY ITS ACCEPTANCE OF THIS NOTE OR ANY INTEREST HEREIN, THE HOLDER AGREES
TO COMPLY WITH THE TERMS OF THE INDENTURE AND THE OTHER TRANSACTION DOCUMENTS
APPLICABLE TO HOLDERS. COPIES OF SUCH DOCUMENTS MAY BE OBTAINED FREE OF CHARGE
UPON WRITTEN REQUEST OF THE ISSUER.

<PAGE>   3

                        BXG RECEIVABLES OWNER TRUST 2000

                                  CLASS B NOTE

         BXG Receivables Owner Trust 2000, a Delaware business trust (including
any successor, the "ISSUER"), for value received, hereby promises to pay to U.S.
Bank Trust National Association (as Paying Agent on behalf of Heller Financial,
Inc. (the "Noteholder") and its successors and assigns), or registered assigns,
the principal sum of TWENTY-FIVE MILLION FIVE HUNDRED SEVENTY-EIGHT THOUSAND
DOLLARS or, if less, the aggregate unpaid Outstanding Amount of this Note
partially payable on each Payment Date in an amount equal to the aggregate
amount, if any, payable from the Collection Account in respect of principal on
the Class B Notes pursuant to SECTION 3.1 of the Indenture; PROVIDED, HOWEVER,
that the entire unpaid principal amount of this Note shall be due and payable on
the earliest to occur of the Facility Termination Date, the Class B Note Final
Scheduled Maturity Date and the Redemption Date, if any, pursuant to SECTION
10.1 of the Indenture. The Issuer will pay interest on this Note at the floating
rate, at the times and in the manner provided in the Indenture and the other
Transaction Documents, on each Payment Date until the principal of this Note is
paid or made available for payment, on the principal amount of this Note
outstanding on the preceding Payment Date (after giving effect to all payments
of principal made on the preceding Payment Date), subject to certain limitations
contained in SECTION 3.1 of the Indenture. Principal and interest on this Note
shall be paid in the manner specified in the Indenture and the Sale and
Servicing Agreement.

         The principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.

         Reference is made to the further provisions of this Note set forth on
the reverse hereof, which shall have the same effect as though fully set forth
on the face of this Note.

         Unless the certificate of authentication hereon has been executed by
the Indenture Trustee by manual signature, this Note shall not be entitled to
any benefit under the Indenture referred to on the reverse hereof, or be valid
or obligatory for any purpose.

<PAGE>   4

         IN WITNESS WHEREOF, the Issuer has caused this instrument to be
manually or in facsimile, by its Authorized Officer.

Dated: October 16, 2000

                                           BXG RECEIVABLES OWNER TRUST
                                           2000

                                           By: Wilmington Trust Company, not in
                                           its individual capacity, but solely
                                           as Owner Trustee

                                           By: /s/ Jill K. Morrison
                                               ---------------------------------
                                               Name:  Jill K. Morrison
                                               Title: Financial Services

<PAGE>   5

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

         This is one of the Notes designated above and referred to in the
mentioned Indenture.

Dated: October 16, 2000

                                   U.S. BANK TRUST NATIONAL ASSOCIATION, not in
                                   its individual capacity but solely as
                                   Indenture Trustee

                                    By: /s/ Tamara Schultz-Fugh
                                        ----------------------------------------
                                        Authorized Signatory

<PAGE>   6

                                [REVERSE OF NOTE]

         This Note is one of a duty authorized issue of Notes of the Issuer,
designated as its Class B Notes (herein called the "CLASS B NOTES" or the
"NOTES"), all issued under an Indenture dated as of September 1, 2000 (such
Indenture, as supplemented or amended, is herein called the "INDENTURE"),
between the Issuer and U.S. Bank Trust National Association, not in its
individual capacity but solely as trustee (the "INDENTURE TRUSTEE", which term
includes any successor Indenture Trustee under the Indenture), to which
Indenture and all indentures supplemental thereto reference is hereby made for a
statement of the respective rights and obligations thereunder of the Issuer, the
Indenture Trustee and the Holders of the Notes. The Notes are subject to all
terms of the Indenture. All terms used in this Note that are not otherwise
defined herein and that are defined in the Indenture shall have the meanings
assigned to them in or pursuant to the Indenture.

         The Notes are and will be equally and ratably secured by the Collateral
as security therefor as provided in the Indenture.

         As provided in the Indenture, the Notes may be redeemed pursuant to
SECTION 10.1 of the Indenture, in whole, but not in part, if the Trust Depositor
exercises its option to purchase the Receivables and the other Collateral on any
Payment Date if the Receivables Balance of all Receivables in the Asset Pool is
then less than 10% of the Receivables Balance of the Receivables purchased under
the Sale and Servicing Agreement when so purchased.

         Each Noteholder, by acceptance of a Note (or an interest therein),
covenants and agrees that no recourse may be taken, directly or indirectly, with
respect to the obligations of the Issuer or the Indenture Trustee on the Notes
or under the Indenture or any certificate or other writing delivered in
connection therewith, against: (i) the Indenture Trustee in its individual
capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any
partner, owner, beneficiary, agent, officer, director or employee of: (a) the
Indenture Trustee in its individual capacity, (b) any holder of a beneficial
interest in the Issuer, or the Indenture Trustee or of (c) any successor or
assign of the Indenture Trustee in its individual capacity, except as any such
Person may have expressly agreed.

         It is the intent of the Issuer and the Noteholders that, for purposes
of Federal and State income tax and any other tax measured in whole or in part
by income, the Notes will qualify as indebtedness of the Issuer. Each
Noteholder, by acceptance of a Note, agrees to treat, and to take no action
inconsistent with the treatment of, the Notes for such tax purposes as
indebtedness of the Issuer.

         Each Noteholder, by acceptance of a Note (or an interest therein),
covenants and agrees that by accepting the benefits of the Indenture that such
Noteholder will not at any time institute against the Issuer, or join in any
institution against the Issuer of, any bankruptcy, reorganization or
arrangement, insolvency or liquidation proceedings under any United States
Federal or State bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Transaction Documents and will
comply with the terms of the Transaction Documents applicable to Noteholders.

<PAGE>   7

         This Note and the Indenture shall be construed in accordance with the
laws of the State of Illinois, without reference to its conflict of law
provisions, and the obligations, rights and remedies of the parties hereunder
and thereunder shall be determined in accordance with such laws. To the extent
permitted by applicable law, each of the Issuer, the Indenture Trustee and the
Noteholder waives any right to have a jury participate in resolving any dispute
sounding in contract, tort or otherwise between the parties arising out of,
connected with, related to, or incidental to the relationship between any of
them in connection with this Note or the Indenture. Instead, any such dispute
resolved in court will be resolved in a bench trial without a jury.

         No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency, herein prescribed.

         Anything herein to the contrary notwithstanding, except as expressly
provided in the Transaction Documents, neither the Indenture Trustee, in its
individual capacity, any owner of a beneficial interest in the Issuer, nor any
of their respective partners, beneficiaries, agents, officers, directors,
employees, successors or assigns shall be personally liable for, nor shall
recourse be had to any of them for, the payment of principal of or interest on,
or performance of, or omission to perform, any of the covenants, obligations or
indemnifications contained in this Note or the Indenture, it being expressly
understood that said covenants, obligations and indemnifications have been made
by the Indenture Trustee for the sole purposes of binding the interests of the
Indenture Trustee in the assets of the Issuer. The Holder of this Note by the
acceptance hereof, each agrees that, except as expressly provided in the
Transaction Documents, in the case of an Event of Default under the Indenture,
the Holder shall have no claim against any of the foregoing for any deficiency,
loss or claim therefrom; PROVIDED, HOWEVER, that nothing contained herein shall
be taken to prevent recourse to, and enforcement against, the assets of the
Issuer for any and all liabilities, obligations and undertakings contained in
the Indenture or in this Note.<PAGE>   1
                                                                  EXHIBIT 10.140

                     THIRD AMENDMENT TO AMENDED AND RESTATED
                           LOAN AND SECURITY AGREEMENT

         THIRD AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
(this "AMENDMENT"), dated as of October 16, 2000, among BLUEGREEN CORPORATION
("BLUEGREEN"), BLUEGREEN VACATIONS UNLIMITED, INC. ("VACATIONS", and together
with Bluegreen, the "BORROWERS"), and HELLER FINANCIAL, INC., (together with its
successors and permitted assigns, the "LENDER").

                                    RECITALS

         A. Lender and Borrowers are party to that certain Amended and Restated
Loan and Security Agreement dated as of June 30, 1999 (as amended, restated,
supplemented or otherwise modified from time to time, the "LOAN AGREEMENT").

         B. On and subject to the terms and conditions hereof, Borrowers have
requested from Lender, and Lender is willing to grant, certain amendments to
certain provisions of the Loan Agreement, all on the terms and conditions set
forth herein.

         C. This Amendment shall constitute a Loan Document and these Recitals
shall be construed as part of this Amendment; capitalized terms used herein
without definition are so used as defined in the Appendix to the Loan Agreement
or the Loan Agreement.

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants hereinafter contained, the parties hereto agree as follows:

         1. AMENDMENT.

                  (a) Section 1.1 of the Loan Agreement is hereby amended by
deleting the reference to "October 31, 2000" therein and substituting therefor
"October 16, 2001".

                  (b)      Section 9.9 of the Loan Agreement is hereby deleted.

                  (c) The Appendix to the Loan Agreement is hereby amended by
deleting the following definitions in their entirety and substituting therefor
the following:

                    AVAILABILITY. At all times during the term of this
                    Agreement, the lesser of (i) $15,000,000 minus outstanding
                    Advances, or (ii) an amount equal to 95% of the principal
                    balance of Pledged Receivables; provided that with respect
                    to Aruba Receivables, such amount shall be 85% of the
                    principal balance of such Pledged Receivables; provided
                    further, that notwithstanding anything to the contrary
                    contained herein the amounts advanced against Pledged
                    Receivables (i) relating to Eligible Uncompleted Unit
                    Receivables shall not at any time represent in the aggregate

<PAGE>   2

                    more than the lesser of $5,000,000.00 or 30% of the
                    aggregate principal amount of all Advances outstanding under
                    this Agreement; (ii) relating to Managed Resorts shall not
                    at any time represent in the aggregate more than $2,000,000
                    of the aggregate principal amount of all Advances
                    outstanding under this Agreement and (iii) relating to Aruba
                    Receivables shall not exceed on a cumulative basis
                    $6,000,000 of all Advances made under this Agreement. After
                    the Maturity Date or, at the option of Lender in accordance
                    with Section 8.10, after the occurrence and during the
                    continuance of an Event of Default hereunder, Availability
                    shall be zero ($0). At any time Bluegreen Corporation ceases
                    to own, directly or indirectly, at least 51% of the economic
                    and voting interests of Bluegreen Properties, N.V.,
                    Availability with respect to Aruba Receivables shall be zero
                    ($0).

                    MATURITY DATE. October 16, 2001.

                    MAXIMUM EXPOSURE. The lesser of (a) $15,000,000, or (b)
                    ninety-five percent (95%) of the outstanding principal
                    balance of all Pledged Receivables; PROVIDED that with
                    respect to Aruba Receivables, such amount shall be 85% of
                    the outstanding principal balance of such Pledged
                    Receivables; PROVIDED, HOWEVER, notwithstanding anything to
                    the contrary contained herein, the outstanding principal
                    amount of Advances made with respect to Eligible Uncompleted
                    Unit Receivables shall not in the aggregate represent more
                    than the lesser of $5,000,000 or thirty percent (30%) of the
                    aggregate principal amount of Advances outstanding hereunder
                    and any such excess shall require a prepayment of the Loan
                    or the pledge of Eligible Receivables consistent with
                    Section 1.7(b) hereof.

         2. REPRESENTATIONS AND WARRANTIES.

                  (a) After giving effect to this Amendment and the transactions
contemplated hereby (i) no Event of Default shall have occurred or be continuing
and (ii) the representations and warranties of Borrowers contained in the Loan
Documents shall be true, correct and complete in all material respects on and as
of such date to the same extent as though made on and as of such date, except to
the extent such representations and warranties specifically relate to an earlier
date.

                  (b) Borrowers jointly and severally represent and warrant to
Lender that the execution, delivery and performance by each Borrower of this
Amendment and the other documents and transactions contemplated hereby are
within such Borrower's corporate powers, have been duly authorized by all
necessary corporate action (including, without limitation, all necessary
shareholder approval) of such Borrower, have received all necessary governmental
approvals, and do not and will not contravene or conflict with any provision of
law applicable to such Borrower, the certificate or articles of incorporation or
bylaws of such Borrower, or any order, judgment or decree of any court or other

                                      -2-
<PAGE>   3

agency of government or any contractual obligation binding upon such Borrower;
and this Amendment, the Loan Agreement and each other Loan Document constitutes
the legal, valid and binding obligation of each Borrower enforceable against
each Borrower in accordance with its terms.

         3. CONDITIONS PRECEDENT. This Amendment shall become effective upon
Lender's receipt of the following items and the satisfaction of the following
conditions, as the case may be, all in form and substance satisfactory to
Lender:

                  (a) AMENDMENT. This Amendment, duly executed by each Borrower
and Lender.

                  (b) COMMITMENT FEE. The Lender shall have received a
commitment fee of $75,000.

                  (c) NO EVENT OF DEFAULT. No Event of Default shall have
occurred and be continuing, or would result after giving effect hereto.

                  (d) WARRANTIES AND REPRESENTATIONS. The warranties and
representations of each Borrower contained in this Amendment and the other Loan
Documents shall be true and correct in all material respects after giving effect
hereto.

         4. EFFECT ON LOAN DOCUMENTS. This Amendment is limited to the specific
purpose for which it is granted and, except as specifically set forth above (a)
shall not be construed as a consent, waiver or other modification with respect
to any term, condition or other provision of any Loan Document and (b) each of
the Loan Documents shall remain in full force and effect and are each hereby
ratified and confirmed.

         5. SUCCESSORS AND ASSIGNS. This Amendment shall be binding on and shall
inure to the benefit of Borrowers, Lender and their respective successors and
assigns; PROVIDED that no Borrower may assign its rights, obligations, duties or
other interests hereunder without the prior written consent of Lender. The terms
and provisions of this Amendment are for the purpose of defining the relative
rights and obligations of Borrowers and Lender with respect to the transactions
contemplated hereby and there shall be no third party beneficiaries of any of
the terms and provisions of this Amendment.

         6. ENTIRE AGREEMENT. This Amendment, including all documents attached
hereto, incorporated by reference herein or delivered in connection herewith,
constitutes the entire agreement of the parties with respect to the subject
matter hereof and supersedes all other understandings, oral or written, with
respect to the subject matter hereof.

         7. FEES AND EXPENSES. As provided in Section 9.3 of the Loan Agreement,
Borrowers agree to pay on demand all Costs incurred by Lender in connection with
the preparation, execution and delivery of this Amendment.

         8. INCORPORATION OF LOAN AGREEMENT. The provisions contained in
Sections 11.12 and 11.13 of the Loan Agreement are incorporated herein by
reference to the same extent as if reproduced herein in their entirety with
respect to this Amendment and the subject matter hereof.

                                      -3-
<PAGE>   4

         9. CAPTIONS. Section captions used in this Amendment are for
convenience only, and shall not affect the construction of this Amendment.

         10. SEVERABILITY. Whenever possible each provision of this Amendment
shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Amendment shall be prohibited by or
invalid under such law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Amendment.

         11. COUNTERPARTS. This Amendment may be executed in any number of
counterparts and by the different parties on separate counterparts, and each
such counterpart shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. Delivery of an
executed counterpart of a signature page to this Amendment by telecopy shall be
effective as delivery of a manually executed counterpart of this Amendment.

         12. PAYMENT UPON MATURITY DATE. The parties hereto acknowledge and
agree that payment of the Indebtedness pursuant to Section 1.6(b) of the Loan
Agreement shall not constitute a prepayment under Section 1.7 of the Loan
Agreement.

                            [signature page follows]

                                      -4-
<PAGE>   5

         IN WITNESS WHEREOF, this Amendment has been duly executed and delivered
as of the day and year first above written.

                                              BLUEGREEN CORPORATION

                                              By: /s/ JOHN F. CHISTE
                                              ---------------------------
                                              Title: Treasurer

                                              BLUEGREEN VACATIONS
                                              UNLIMITED, INC.

                                              By: /s/ ALLAN J. HERZ
                                              ---------------------------
                                              Title: Vice President

                                              HELLER FINANCIAL, INC.

                                              By: /s/ DENNIS K. HOLLAND
                                              ---------------------------
                                              Title: Senior Vice President

                        Signature Page to Third Amendment

                                      -5-

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