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  5. 566 So.2d 1296 (1990)
 

THUNDERBIRD, LTD. v. GREAT AM. INS. CO.

Nos. 88-01934, 88-01935.

566 So.2d 1296 (1990)

THUNDERBIRD, LTD., a Florida Limited Partnership; Thunderbird Management, Inc., a Florida Corporation; Financial Investment Corporation, a Florida Corporation; J. Steven Wilson; Courtenay Sands Wilson; Philip A. Browning, Jr.; Patricia Browning; and Boston Sports Associates, a General Partnership under the Partnership Act of the Commonwealth of Massachusetts, Appellants/Cross-Appellees, v. GREAT AMERICAN INSURANCE COMPANY, Appellee/Cross-Appellant.

District Court of Appeal of Florida, First District.

As Clarified on Rehearing September 27, 1990.

Attorney(s) appearing for the Case

John L. Taylor, Jr., Otto F. Feil, III, and Michael A. Cole of Vincent, Chorey, Taylor & Feil, Atlanta, Ga., for appellants/cross-appellees, Philip A. Browning, Patricia Browning, Financial Inv. Corp., and Thunderbird Management, Inc.

C. Harris Dittmar and Timothy J. Corrigan of Bedell, Dittmar, DeVault & Pillans, Jacksonville, for appellants/cross-appellees J. Steven Wilson and Courtenay Sands Wilson.

Gerry S. Gibson of Steel, Hector & Davis, Miami, and Frederick R. Brock of Gartner, Brock & Simon, Jacksonville, for appellee/cross-appellant.

WIGGINTON, Judge.

These consolidated appeals and the cross-appeal arise from a lawsuit filed by Great American Insurance Company to foreclose on its mortgages following default by the mortgagee, Thunderbird, Ltd. We affirm in part and reverse in part.

The circumstances leading to the instant lawsuit began on February 27, 1978, when Thunderbird, Ltd. executed two promissory notes in favor of Great American's predecessor and assignor, the Provident Bank, in...

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