J&P has until May 30 to come up with the money. If the deal isn't done then, the property will be sold at a public auction June 4.
Standing at the head of the bidding line with be David A. Siegel, Orlando's foremost timeshare developer and founder/chairman of Central Florida Investments Inc. Siegel previously bought $16 million in first and fourth mortgages on the 11-year-old property from Arbor Commercial Mortgage of New York.
Siegel bought the mortgages through Investco LLC, a company purportedly under the Central Florida Investments Inc. umbrella.
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