Exhibit 10.260



$920,000.00                                                   August  30,  2002

                                 PROMISSORY NOTE

     For  value  received,  MEGO  FINANCIAL  CORP.  D/B/A  LEISURE  INDUSTRIES
CORPORATION, a New York corporation ("Purchaser"), promises to pay to OB SPORTS,
LLC,  a  Delaware  limited  liability company ("Seller"), at OB Sports, LLC, c/o
Rice Sangalis Toole & Wilson, 5847 San Felipe, Suite 4350, Houston, Texas 77057,
or  such  other address as Seller may specify, the principal sum of NINE HUNDRED
TWENTY  THOUSAND  AND  NO/100  DOLLARS  ($920,000.00), together with accrued and
unpaid  interest  thereon  as  set  forth  below.

     This  Note  is  issued by Purchaser pursuant to the terms and conditions of
that certain Purchase Agreement dated August 30, 2002 (the "Purchase Agreement")
by  and between Purchaser and Seller for the purchase of membership interests of
Cimarron  Golf  Club, LLC, a Delaware limited liability company (the "Company").

     Interest  on  the unpaid principal balance of this Note shall accrue at the
rate  of five percent (5%) per annum (computed on the basis of a 360-day year of
twelve  30-day  months)  commencing on January 31, 2003, and shall be payable in
thirty-six  (36)  monthly  installments pursuant to the Purchase Agreement.  The
entire  unpaid balance of principal and all accrued and unpaid interest shall be
due  and  payable  on  December  31,  2005  (the  "Maturity  Date").

     All  payments  of  interest  and  principal shall be in lawful money of the
United  States  of  America.  All  payments shall be applied first to reasonable
costs  of  collection  and  enforcement,  if  any,  then  to  accrued and unpaid
interest,  and  thereafter  to principal. Purchaser reserves the right to prepay
this  Note  in  cash  or  wire  transfer in whole or in part at any time without
penalty  or  additional  fees.

     In the event Purchaser fails to make any scheduled payment and such payment
default  continues  for  a  period  of  thirty  (30)  days  (a  "Default"),  the
outstanding  balance  on the Note (principal balance plus any accrued but unpaid
interest)  shall  then begin to accrue interest at a rate equal to seven percent
(7%)  per  annum  until  the  Default is cured.  In the event three (3) Defaults
occur during the term of this Note, the interest rate shall increase immediately
to  a rate equal to ten percent (10%) per annum until the Maturity Date or until
the  entire  outstanding  balance  owed to Seller under this Note (including any
accrued  but  unpaid  interest)  is  paid  in  full.

     If  either  Purchaser  or  Seller asserts a claim for indemnification under
Article  VII  of  the Purchase Agreement (an "Indemnification Claim"), Purchaser
will  continue  to  make  the  payments  due  under  this Note and interest will
continue  to  accrue  on the outstanding principal at the applicable rate.  Once
the  final  adjustment  to  the  amount  owed under this Note as a result of the
Indemnification  Claim  is  determined  pursuant  to the Purchase Agreement, the
amount  outstanding  under  this  Note  will  be adjusted by the indemnification
amount  and the new total amount outstanding will be amortized and paid in equal
monthly  installments  over  the remainder of the original thirty-six (36) month

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payment period.  The Maturity Date and the interest rate adjustment in the event
of  a  Default  will  not  be  affected  or  altered  by  the provisions of this
paragraph.

     No failure on the part of Seller to exercise any right or remedy hereunder,
whether  before  or after the occurrence of a default, shall constitute a waiver
thereof,  and  no  waiver  of  any past default shall constitute a waiver of any
future  default  or  of  any  other  default.  No failure to accelerate the debt
evidenced  hereby  by  reason  of default hereunder, or acceptance of a past due
installment,  or indulgence granted from time to time shall be construed to be a
waiver  of the right to insist upon prompt payment thereafter or shall be deemed
to be a novation of this Note or as a reinstatement of the debt evidenced hereby
or as a waiver of such right of acceleration or any other right, or be construed
so  as  to  preclude the exercise of any right which Seller may have, whether by
the  laws of the State of California, by agreement or otherwise, and none of the
foregoing shall operate to release, change or affect the liability of Purchaser.
This  Note  may  not  be modified or amended orally, but only by an agreement in
writing  signed  by  the  party  against  whom  such  agreement  is sought to be
enforced.

     PURCHASER  CONSENTS  TO  THE EXCLUSIVE JURISDICTION OF THE STATE OR FEDERAL
COURTS  OF  THE  STATE  OF  CALIFORNIA  FOR ANY LEGAL ACTION, SUIT OR PROCEEDING
ARISING  OUT  OF  OR IN CONNECTION WITH THIS AGREEMENT, AND AGREES THAT ANY SUCH
ACTION,  SUIT,  OR  PROCEEDING  MAY  BE  BROUGHT ONLY IN SUCH COURTS.  PURCHASER
FURTHER  WAIVES  ANY  OBJECTION  TO  THE LAYING OF VENUE FOR ANY SUIT, ACTION OR
PROCEEDING  IN  SUCH COURTS.  PURCHASER AGREES TO ACCEPT AND ACKNOWLEDGE SERVICE
OF  ANY  AND  ALL  PROCESS THAT MAY BE SERVED IN ANY SUIT, ACTION OR PROCEEDING.
PURCHASER  AGREES  THAT  ANY  SERVICE OF PROCESS UPON IT MAILED BY REGISTERED OR
CERTIFIED  MAIL,  RETURN  RECEIPT  REQUESTED TO THE PURCHASER AT THE ADDRESS SET
FORTH  IN  THE  PURCHASE  AGREEMENT,  SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE
SERVICE  OF  PROCESS  UPON  SUCH  PARTY  IN ANY SUCH SUIT, ACTION OR PROCEEDING.
PURCHASER AGREES TO WAIVE ANY RIGHT IT MIGHT HAVE TO A TRIAL BY JURY IN ANY SUCH
SUIT,  ACTION  OR  PROCEEDING.

     This  Note  shall  inure  to  the  benefit of Seller and its successors and
permitted  assigns  and  shall  be binding upon Purchaser and its successors and
assigns.  Purchaser  acknowledges  and  agrees that this Note and the rights and
obligations  of  all  parties hereunder shall be governed by and construed under
the  laws  of  the  State  of  California

                                                MEGO  FINANCIAL  CORP.  D/B/A
                                                LEISURE  INDUSTRIES  CORPORATION


                                                By:
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                                                Its:
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