<PAGE>

                                 EXHIBIT 10.6.2


U.S.  BANK CREDIT FACILITY
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                                 PROMISSORY NOTE
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-------------------- ---------------- --------------- ------------- -------- -------------- ----------------- ----------- ----------
     PRINCIPAL          LOAN DATE        MATURITY       LOAN NO.     CALL     COLLATERAL        ACCOUNT        OFFICER    INITIALS
<S>                    <C>              <C>               <C>                     <C>          <C>              <C>
    $586,308.26        02-28-2001       03-01-2003        2784                    240          1105510939       DJS64
-------------------- ---------------- --------------- ------------- -------- -------------- ----------------- ----------- ----------

REFERENCES IN THE SHADED AREA ARE FOR LENDER'S USE ONLY AND DO NOT LIMIT THE APPLICABILITY OF THIS DOCUMENT TO ANY PARTICULAR LOAN
OR ITEM
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BORROWER:      HI-SHEAR TECHNOLOGY, CORP.                              LENDER:    U.S. BANK NATIONAL ASSOCIATION
               24225 GARNIER ST.                                                  4100 NEWPORT PLACE, SUITE 120
               TORRANCE, CA  90505                                                NEWPORT BEACH, CA  92660

====================================================================================================================================
</TABLE>


PRINCIPAL AMOUNT: $586,308.26                    DATE OF NOTE: FEBRUARY 28, 2001

PROMISE TO PAY. Hi-Shear Technology, Corp. ("Borrower") promises to pay to U.S.
Bank National Association ("Lender"), or order, in lawful money of the United
States of America, the principal amount of Five Hundred Eighty Six Thousand
Three Hundred Eight & 26/100 Dollars ($586,308.26) together with interest on the
unpaid principal balance from February 23, 2001, until paid in full.

PAYMENT. Subject to any payment changes resulting from changes in the Index,
Borrower will pay this loan in 24 principal payments of $23,452.33 each and one
final principal and interest payment of $23,616.51. Borrower's first principal
payment is due March 1, 2001, and all subsequent principal payments are due on
the same day of each month after that. In addition, Borrower will pay regular
monthly payments of all accrued unpaid interest due as of each payment date.
Borrower's first interest payment is due March 1, 2001, and all subsequent
interest payments are due on the same day of each month after that. Borrower's
final payment due March 1, 2003, will be for all principal and accrued interest
not yet paid. The annual interest on this Note is computed on a 365/360 basis;
that is, by applying the ratio of the annual interest rate over a year of 360
days, multiplied by the outstanding principal balance, multiplied by the actual
number of days the principal balance is outstanding. Borrower will pay Lender at
Lender's address shown above or at such other place as Lender may designate in
writing.

VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from
time to time based on changes in an independent index which is the Wall Street
Journal Prime Rate. This is the Prime Rate as published in the West Coast
edition of The Wall Street Journal "Money Rates" column. When a range of rates
has been published, the higher of the rates will be used (the "Index"). The
Index is not necessarily the lowest rate charged by Lender on its loans. If the
Index becomes unavailable during the term of this loan, Lender may designate a
substitute index after notice to Borrower. Lender will tell Borrower the current
Index rate upon Borrower's request. Borrower understands that Lender may make
loans based on other rates as well. The interest rate change will not occur more
often than each day. The interest rate to be applied to the unpaid principal
balance of this Note will be at a rate of 0.500 percentage points over the
Index. NOTICE: Under no circumstances will the interest rate on this Note be
more than the maximum rate allowed by applicable law.

PREPAYMENT.
Borrower may pay without penalty all or a portion of the amount owed earlier
than it is due. Early payments will not, unless agreed to by Lender in writing,
relieve Borrower of Borrower's obligation to continue to make payments under the
payment schedule. Rather, they will reduce the principal balance due and may
result in Borrower making fewer payments.

<PAGE>

DEFAULT. Borrower will be in default if any of the following happens: (a)
Borrower fails to make any payment when due. (b) Borrower breaks any promise
Borrower has made to Lender, or Borrower fails to comply with or to perform when
due any other term, obligation, covenant, or condition contained in this Note or
any agreement related to this Note, or in any other agreement or loan Borrower
has with Lender. (c) Borrower defaults under any loan, extension of credit,
security agreement, purchase or sales agreement, or any other agreement, in
favor of any other creditor or person that may materially affect any of
Borrower's property or Borrower's ability to repay this Note or perform
Borrower's obligations under this Note or any of the Related Documents. (d) Any
representation or statement made or furnished to Lender by Borrower or on
Borrower's behalf is false or misleading in any material respect either now or
at the time made or furnished. (e) Borrower becomes insolvent, a receiver is
appointed for any part of Borrower's property, Borrower makes an assignment for
the benefit of creditors, or any proceeding is commenced either by Borrower or
against Borrower under any bankruptcy or insolvency laws. (f) Borrower is in
default under any other note, security agreement, lease agreement or lease
schedule, loan agreement or other agreement, whether now existing or hereafter
made, between Borrower and U.S. Bancorp or any direct or indirect subsidiary of
U.S. Bancorp. (g) Any creditor tries to take any of Borrower's property on or in
which Lender has a lien or security interest. This includes a garnishment of any
of Borrower's accounts with Lender. (h) Any guarantor dies or any of the other
events described in this default section occurs with respect to any guarantor of
this Note. (i) A material adverse change occurs in Borrower's financial
condition, or Lender believes the prospect of payment or performance of the
indebtedness is impaired.

LENDER'S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance on this Note and all accrued unpaid interest immediately due, without
notice, and then Borrower will pay that amount. Upon Borrower's failure to pay
all amounts declared due pursuant to this section, including failure to pay upon
final maturity, Lender, at its option, may also, if permitted under applicable
law, increase the variable interest rate on this Note to 5.500 percentage points
over the Index. Lender may hire or pay someone else to help collect this Note if
Borrower does not pay. Borrower also will pay Lender that amount. This includes,
subject to any limits under applicable law, Lender's attorneys' fees and
Lender's legal expenses whether or not there is a lawsuit, including attorneys'
fees and legal expenses for bankruptcy proceedings (including efforts to modify
or vacate any automatic stay or injunction), appeals, and any anticipated
post-judgment collection services. Borrower also will pay any court costs, in
addition to all other sums provided by law. This Note has been delivered to
Lender and accepted by Lender in the State of California. If there is a lawsuit,
Borrower agrees upon Lender's request to submit to the jurisdiction of the
courts of Sacramento County, the State of California. Lender and Borrower hereby
waive the right to any jury trial in any action, proceeding, or counterclaim
brought by either Lender or Borrower against the other. This Note shall be
governed by and construed in accordance with the laws of the State of
California.

COLLATERAL. Borrower acknowledges this Note is secured by in addition to any
other collateral, a Deed of Trust dated June 9, 1999 to Lender on real property
located in Los Angeles County, State of California. That agreement contains the
following due on sale provision: Lender may, at its option, declare immediately
due and payable all sums secured by this Deed of Trust upon the sale or
transfer, without the Lender's prior written consent, of all or any part of the
Real Property, or any interest in the Real Property. A "sale or transfer" means
the conveyance of Real Property or any right, title or interest therein; whether
legal, beneficial or equitable; whether voluntary or involuntary; whether by
outright sale, deed, installment sale contract, land contract, contract for
deed, leasehold interest with a term greater than three (3) years, lease-option
contract, or by sale, assignment, or transfer of any beneficial interest in or
to any land trust holding title to the Real Property, or by any other method of
conveyance of Real Property interest. If any Trustor is a corporation,
partnership or limited liability company, transfer also includes any change in
ownership of more than twenty-five percent (25%) of the voting stock,
partnership interests or limited liability company interests, as the case may
be, of Trustor. However, this option shall not be exercised by Lender if such
exercise is prohibited by applicable law.

LATE CHARGE. If a payment is 15 days or more past due, Borrower will be charged
a late charge of 5% of the delinquent payment.

JURY WAIVER. Lender and Grantor (which may also be referred to as Trustor or
Borrower) hereby waive the right to any jury trial in any action, proceeding, or
counterclaim brought by either Lender or Grantor against the other.

RENEWAL AND EXTENSION. This Note is given in renewal and extension and not in
novation of the following described indebtedness: That certain Promissory Note
dated June 9, 1999 in the amount of $1,200,000.00 executed by Borrower payable
to Lender. It is further agreed that all liens and security interest securing
said indebtedness are hereby renewed and extended to secure the Note and all
renewals, extensions and modifications thereof.

<PAGE>

GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its right or
remedies under this Note without losing them. Borrower and any other person who
signs, guarantees or endorses this Note, to the extent allowed by law, waive any
applicable statute of limitations, presentment, demand for payment, protest and
notice of dishonor. Upon any change in the terms of this Note, and unless
otherwise expressly stated in writing, no party who signs this Note, whether as
maker, guarantor, accommodation maker or endorser, shall be released from
liability. All such parties agree that Lender may renew or extend (repeatedly
and for any length of time) this loan, or release any party or guarantor or
collateral; or impair, fail to realize upon or perfect Lender's security
interest in the collateral; and take any other action deemed necessary by Lender
without the consent of or notice to anyone. All such parties also agree that
Lender may modify this loan without consent of or notice to anyone other than
the party with whom the modification is made.

PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF
THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS. BORROWER AGREES TO
THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE.

BORROWER:

Hi-Shear Technology, Corp.

By:  /s/ George W. Trahan                          By:  /s/ Thomas R. Mooney
     -------------------------------               -----------------------------
     Authorized Officer, Title                     Authorized Officer, Title
     GEORGE W. TRAHAN, PRESIDENT/CEO/CO-CHAIRMAN   THOMAS R. MOONEY, CO-CHAIRMAN

LENDER:

U.S. Bank National Association


By   /s/ Linda E. Claire
     ---------------------------
     Authorized Officer