Exhibit
      10.87


**GUARANTEE**






GUARANTEE,
      dated as of May 31,
      2006,
      made by U-HAUL INTERNATIONAL, INC. and AMERCO (each, a “ Guarantor ”
and
      collectively, the “ Guarantors ”),
      in
      favor of BTMU CAPITAL CORPORATION, as lender (the “ Lender ”
and
      a
“ Lender
      Party ”)
      and ORANGE
      TRUCK TRUST 2006,
      as
      collateral agent (the “ Collateral
      Agent ”
and
      a
“ Lender
      Party ”
and,
      together with the Lender, the “ Lender
      Parties ”),
      parties to the Credit Agreement referred to below.




**RECITALS**




Pursuant
      to the Credit Agreement, dated as of May 31, 2006 (as amended, supplemented
      or
      otherwise modified from time to time, the “ Credit
      Agreement ”),
      among
      U-HAUL SALES & LEASING CO., U-HAUL CO. OF ARIZONA and U-HAUL INTERNATIONAL,
      INC. (each, a “ Borrower ”
and
      collectively, the “ Borrowers ”),
      the
      Guarantors, ORANGE
      TRUCK TRUST 2006, as
      Collateral Agent, and the Lender, the Lender has agreed to make Loans to the
      Borrowers upon the terms and subject to the conditions set forth therein, such
      loans to be evidenced by the Note issued by the Borrowers thereunder. The
      Borrowers are members of an affiliated group of corporations that includes
      the
      Guarantors. The Borrowers and the Guarantors are engaged in related businesses,
      and the Guarantors will derive substantial direct and indirect benefit from
      the
      making of the Loans. It is a condition precedent to the obligation of the Lender
      to make the Loans to the Borrowers under the Credit Agreement that the
      Guarantors hereto shall have executed and delivered this Guarantee to the Lender
      Parties.




NOW,
      THEREFORE, in consideration of the premises and to induce the Lender to enter
      into the Credit Agreement and make the Loans to the Borrowers, under the Credit
      Agreement, the Guarantors hereby agree with the Lender Parties as
      follows:




Defined
      Terms .




Unless
      otherwise defined herein, terms defined in the Credit Agreement and used herein
      shall have the meanings given to them in the Credit Agreement.




The
      words
“hereof,” “herein” and “hereunder” and words of similar import when used in this
      Guarantee shall refer to this Guarantee as a whole and not to any particular
      provision of this Guarantee, and section and paragraph references are to this
      Guarantee unless otherwise specified.




The
      meanings given to terms defined herein shall be equally applicable to both
      the
      singular and plural forms of such terms.




Guarantee .




The
      Guarantors hereby, unconditionally and irrevocably, jointly and severally,
      guarantee to the Lender Parties and their respective successors, indorsees,
      transferees and assigns, the prompt and complete payment and performance by
      each
      of the Borrowers of their obligations under the Loan Documents, whether at
      stated maturity, by acceleration or otherwise.




Anything
      herein or in any other Loan Document to the contrary notwithstanding, the
      maximum liability of the Guarantors hereunder and under the other Loan Documents
      shall in no event exceed the amount which can be guaranteed by the Guarantors
      under applicable federal and state laws relating to the insolvency of
      debtors.




The
      Guarantors further agree to pay any and all expenses (including, without
      limitation, all fees and disbursements of counsel) which may be paid or incurred
      by any Lender Party in enforcing, or obtaining advice of counsel in respect
      of,
      any rights with respect to, or collecting, any or all of the Obligations and/or
      enforcing any rights with respect to, or collecting against, the Guarantors
      under this Guarantee. This Guarantee shall remain in full force and effect
      until
      the Obligations are paid in full and the Commitments are terminated,
      notwithstanding that from time to time prior thereto the Borrowers, individually
      or collectively, may be free from any Obligations.




The
      Guarantors agree that the Obligations may at any time and from time to time
      exceed the amount of the liability of the Guarantors hereunder without impairing
      this Guarantee or affecting the rights and remedies of the Lender
      hereunder.




No
      payment or payments made by any Borrower, the Guarantors, any other guarantor
      or
      any other Person or received or collected by any Lender Party from any Borrower,
      the Guarantors, any other guarantor or any other Person by virtue of any action
      or proceeding or any set-off or appropriation or application at any time or
      from
      time to time in reduction of or in payment of the Obligations shall be deemed
      to
      modify, reduce, release or otherwise affect the liability of the Guarantors
      hereunder which shall, notwithstanding any such payment or payments other than
      payments made by the Guarantors in respect of the Obligations or payments
      received or collected from the Guarantors in respect of the Obligations, remain
      liable for the Obligations up to the maximum liability of the Guarantors
      hereunder until the Obligations are paid in full and the Commitments are
      terminated.




The
      Guarantors agree that whenever, at any time, or from time to time, it shall
      make
      any payment to any Lender Party on account of its liability hereunder, it will
      notify such Lender Party in writing that such payment is made under this
      Guarantee for such purpose. .




Right
      of Set-off .
      The
      Guarantors hereby irrevocably authorize each Lender Party at any time and from
      time to time without notice to the Guarantors, any such notice being expressly
      waived by the Guarantors, to set-off and appropriate and apply any and all
      deposits (general or special, time or demand, provisional or final), in any
      currency, and any other credits, indebtedness or claims, in any currency, in
      each case whether direct or indirect, absolute or contingent, matured or
      unmatured, at any time held or owing by such Lender Party to or for the credit
      or the account of the Guarantors, or any part thereof in such amounts as such
      Lender Party may elect, against and on account of the obligations and
      liabilities of the Guarantors to such Lender Party hereunder and claims of
      every
      nature and description of such Lender Party against the Guarantors, in any
      currency, whether arising hereunder, under the Credit Agreement, the Note,
      any
      Loan Documents or otherwise, as such Lender Party may elect, whether or not
      such
      Lender Party has made any demand for payment and although such obligations,
      liabilities and claims may be contingent or unmatured. Each Lender Party shall
      notify the Guarantors promptly of any such set-off and the application made
      by
      such Lender Party, provided that the
      failure to give such notice shall not affect the validity of such set-off and
      application. The rights of any Lender Party under this Section are in addition
      to other rights and remedies (including, without limitation, other rights of
      set-off) which each Lender Party may have.




No
      Subrogation .
      Notwithstanding any payment or payments made by the Guarantors hereunder or
      any
      set-off or application of funds of the Guarantors by any Lender Party, the
      Guarantors shall not be entitled to be subrogated to any of the rights of the
      Lender Party against the Borrowers or any other guarantor or any collateral
      security or guarantee or right of offset held by any Lender Party for the
      payment of the Obligations, nor shall the Guarantors seek or be entitled to
      seek
      any contribution or reimbursement from the Borrowers or any other guarantor
      in
      respect of payments made by the Guarantors hereunder, until all amounts owing
      to
      the Lender Parties by the Borrowers on account of the Obligations are paid
      in
      full and the Commitments are terminated. If any amount shall be paid to the
      Guarantors on account of such subrogation rights at any time when all of the
      Obligations shall not have been paid in full, such amount shall be held by
      the
      Guarantors in trust for the Lender Parties, segregated from other funds of
      the
      Guarantors, and shall, forthwith upon receipt by the Guarantors, be turned
      over
      to the Lender Parties in the exact form received by the Guarantors (duly
      indorsed by the Guarantors to the Lender Parties, if required), to be applied
      against the Obligations, whether matured or unmatured, in such order as each
      Lender Party may determine.




Amendments,
      etc. with respect to the Obligations; Waiver of Rights .
      The
      Guarantors shall remain obligated hereunder notwithstanding that, without any
      reservation of rights against the Guarantors and without notice to or further
      assent by the Guarantors, (a) any demand for payment of any of the Obligations
      made by any Lender Party may be rescinded by such party and any of the
      Obligations continued, (b) the Obligations, or the liability of any other party
      upon or for any part thereof, or any collateral security or guarantee therefor
      or right of offset with respect thereto, may, from time to time, in whole or
      in
      part, be renewed, extended, amended, modified, accelerated, compromised, waived,
      surrendered or released by the Lender Parties, (c) the Credit Agreement, the
      Note and the other Loan Documents and any other documents executed and delivered
      in connection therewith may be amended, modified, supplemented or terminated,
      in
      whole or in part, as the Lender Parties may deem advisable from time to time,
      and (d) any collateral security, guarantee or right of offset at any time held
      by any Lender Party for the payment of the Obligations may be sold, exchanged,
      waived, surrendered or released by such Lender Party. Neither Lender Party
      shall
      have any obligation to protect, secure, perfect or insure any Lien at any time
      held by it as security for the Obligations or for this Guarantee or any property
      subject thereto. When making any demand hereunder against the Guarantors, any
      Lender Party may, but shall be under no obligation to, make a similar demand
      on
      the Borrowers or any other guarantor, and any failure by such Lender Party
      to
      make any such demand or to collect any payments from the Borrowers or any such
      other guarantor or any release of an Borrower or such other guarantor shall
      not
      relieve the Guarantors of their obligations or liabilities hereunder, and shall
      not impair or affect the rights and remedies, express or implied, or as a matter
      of law, of any Lender Party against the Guarantors. For the purposes hereof
      “demand” shall include the commencement and continuance of any legal
      proceedings.




Guarantee
      Absolute and Unconditional .
      The
      Guarantors waive (i) any and all notice of the creation, renewal, extension
      or
      accrual of any of the Obligations, (ii) notice or proof of reliance by any
      Lender Party upon this Guarantee and (iii) acceptance of this Guarantee by
      any
      Lender Party. Each of the Obligations shall conclusively be deemed to have
      been
      created, contracted or incurred, or renewed, extended, amended or waived, in
      reliance upon this Guarantee. All dealings between the Borrowers and the
      Guarantors, on the one hand, and each Lender Party and the Borrowers, on the
      other hand, likewise shall be conclusively presumed to have been had or
      consummated in reliance upon this Guarantee. The Guarantors waive diligence,
      presentment, protest, demand for payment and notice of default or nonpayment
      to
      or upon the Borrowers or the Guarantors with respect to the Obligations. The
      Guarantors understand and agree that this Guarantee shall be construed as a
      continuing, absolute and unconditional guarantee of payment without regard
      to
      (a) the validity, regularity or enforceability of the Credit Agreement, the
      Note
      or any other Loan Document, any of the Obligations or any other collateral
      security therefor or guarantee or right of offset with respect thereto at any
      time or from time to time held by any Lender Party, (b) any defense, set-off
      or
      counterclaim (other than a defense of payment or performance) which may at
      any
      time be available to or be asserted by the Borrowers against any Lender Party,
      or (c) any other circumstance whatsoever (with or without notice to or knowledge
      of any Borrower or the Guarantors) which constitutes, or might be construed
      to
      constitute, an equitable or legal discharge of any Borrower for the Obligations,
      or of the Guarantors under this Guarantee, in bankruptcy or in any other
      instance. When pursuing its rights and remedies hereunder against the
      Guarantors, any Lender Party may, but shall be under no obligation to, pursue
      such rights and remedies as it may have against any Borrower or any other Person
      or against any collateral security or guarantee for the Obligations or any
      right
      of offset with respect thereto, and any failure by the such Lender Party to
      pursue such other rights or remedies or to collect any payments from any
      Borrower or any such other Person or to realize upon any such collateral
      security or guarantee or to exercise any such right of offset, or any release
      of
      any Borrower or any such other Person or any such collateral security, guarantee
      or right of offset, shall not relieve the Guarantors of any liability hereunder,
      and shall not impair or affect the rights and remedies, whether express, implied
      or available as a matter of law, of such Lender Party against the Guarantors.
      This Guarantee shall remain in full force and effect and be binding in
      accordance with and to the extent of its terms upon each of the Guarantors
      and
      its respective successors and assigns, and shall inure to the benefit of each
      Lender Party, and its respective successors, indorsees, transferees and assigns,
      until all the Obligations and the obligations of the Guarantors under this
      Guarantee shall have been satisfied by payment in full and the Commitments
      shall
      be terminated, notwithstanding that from time to time during the term of the
      Credit Agreement the Borrowers, individually or collectively, may be free from
      any Obligations.




Reinstatement .
      This
      Guarantee shall continue to be effective, or be reinstated, as the case may
      be,
      if at any time payment, or any part thereof, of any of the Obligations is
      rescinded or must otherwise be restored or returned by the Lender Parties upon
      the insolvency, bankruptcy, dissolution, liquidation or reorganization of any
      Borrower or any Guarantor, or upon or as a result of the appointment of a
      receiver, intervenor or conservator of, or trustee or similar officer for,
      any
      Borrower or any Guarantor or any substantial part of its property, or otherwise,
      all as though such payments had not been made.




Not
      Affected by Bankruptcy .
      Notwithstanding any modification, discharge or extension of the Obligations
      or
      any amendment, modification, stay or cure of each Lender Party’s rights which
      may occur in any bankruptcy or reorganization case or proceeding against any
      Borrower, whether permanent or temporary, and whether or not assented to by
      each
      Lender Party, each Guarantor hereby agrees that it shall be obligated hereunder
      to pay and perform the Obligations and discharge its other obligations in
      accordance with the terms of the Obligations and the terms of this Guarantee.
      Each Guarantor understands and acknowledges that, by virtue of this Guarantee,
      it has specifically assumed any and all risks of a bankruptcy or reorganization
      case or proceeding with respect to any or all Borrowers. Without in any way
      limiting the generality of the foregoing, any subsequent modification of the
      Obligations in any reorganization case concerning any Borrower shall not affect
      the obligation of the any Guarantor to pay and perform the Obligations in
      accordance with the original terms thereof.




Payments .
      Each
      Guarantor hereby guarantees that payments hereunder will be paid to each Lender
      Party without set-off or counterclaim in U.S. Dollars at the office of each
      Lender Party specified in Section 12.01 of the Credit Agreement.




Notices .
      All
      notices, requests and demands to or upon each Lender Party or each Guarantor
      to
      be effective shall be in writing (or by telex, fax or similar electronic
      transfer confirmed in writing) and shall be deemed to have been duly given
      or
      made (1) when delivered by hand or (2) if given by mail, when deposited in
      the
      mails by certified mail, return receipt requested, or (3) if by telex, fax
      or
      similar electronic transfer, when sent and receipt has been confirmed, addressed
      as follows:




if
      to the
      Lender, at its address or transmission number for notices provided in Section
      12.01 of the Credit Agreement;




if
      to the
      Collateral Agent, at its address or transmission number for notices provided
      in
      Section 12.01 of the Credit Agreement; and




if
      to the
      Guarantors, at their addresses or transmission number for notices set forth
      under their signatures below.




The
      Lender Parties and the Guarantors may change their addresses and transmission
      numbers for notices by notice in the manner provided in this
      Section.




Severability .
      Any
      provision of this Guarantee which is prohibited or unenforceable in any
      jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof, and any such prohibition or unenforceability in any
      jurisdiction shall not invalidate or render unenforceable such provision in
      any
      other jurisdiction.




Integration .
      This
      Guarantee represents the agreement of each Guarantor with respect to the subject
      matter hereof and there are no promises or representations by any Lender Party
      relative to the subject matter hereof not reflected herein.




Amendments
      in Writing; No Waiver; Cumulative Remedies .




None
      of
      the terms or provisions of this Guarantee may be waived, amended, supplemented
      or otherwise modified except by a written instrument executed by the Guarantors
      and the Lender Parties, provided that any provision of this Guarantee may be
      waived by the Lender Parties in a letter or agreement executed by the Lender
      Parties or by telex or facsimile transmission from the Lender
      Parties.




Each
      Lender Party shall not by any act (except by a written instrument pursuant
      to
      Section 13(a) hereof), of delay, indulgence, omission or otherwise be deemed
      to
      have waived any right or remedy hereunder or to have acquiesced in any default
      or Event of Default or in any breach of any of the terms and conditions hereof.
      No failure to exercise, nor any delay in exercising, on the part of any Lender
      Party, any right, power or privilege hereunder shall operate as a waiver
      thereof. No single or partial exercise of any right, power or privilege
      hereunder shall preclude any other or further exercise thereof or the exercise
      of any other right, power or privilege. A waiver by any Lender Party of any
      right or remedy hereunder on any one occasion shall not be construed as a bar
      to
      any right or remedy which such Lender Party would otherwise have on any future
      occasion.




The
      rights and remedies herein provided are cumulative, may be exercised singly
      or
      concurrently and are not exclusive of any other rights or remedies provided
      by
      law.




Section
      Headings .
      The
      section headings used in this Guarantee are for convenience of reference only
      and are not to affect the construction hereof or be taken into consideration
      in
      the interpretation hereof.




Successors
      and Assigns .
      This
      Guarantee shall be binding upon the successors and assigns of the Guarantors
      and
      shall inure to the benefit of each Lender Party and its successors and
      assigns.




GOVERNING
      LAW .
      THIS
      GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
      WITH, THE LAW OF THE STATE OF NEW YORK.




Submission
      to Jurisdiction; Waivers .
      Each
      Guarantor hereby irrevocably and unconditionally:




submits
      for itself and its property in any legal action or proceeding relating to this
      Guarantee and the other Loan Documents to which it is a party, or for
      recognition and enforcement of any judgment in respect thereof, to the
      non-exclusive general jurisdiction of the courts of the State of New York,
      the
      courts of the United States of America for the Southern District of New York,
      and appellate courts from any thereof;




consents
      that any such action or proceeding may be brought in such courts and waives
      any
      objection that it may now or hereafter have to the venue of any such action
      or
      proceeding in any such court or that such action or proceeding was brought
      in an
      inconvenient court and agrees not to plead or claim the same;




agrees
      that service of process in any such action or proceeding may be effected by
      mailing a copy thereof by registered or certified mail (or any substantially
      similar form of mail), postage prepaid, to the Guarantors at their addresses
      set
      forth under their signatures below or at such other addresses of which the
      Lender Parties shall have been notified pursuant hereto;




agrees
      that nothing herein shall affect the right to effect service of process in
      any
      other manner permitted by law or shall limit the right to sue in any other
      jurisdiction; and




waives,
      to the maximum extent not prohibited by law, any right it may have to claim
      or
      recover in any legal action or proceeding referred to in this Section any
      special, exemplary, punitive or consequential damages.




Acknowledgments .
      Each
      Guarantor hereby acknowledges that:




it
      has
      been advised by counsel in the negotiation, execution and delivery of this
      Guarantee and the other Loan Documents to which each is a party;




no
      Lender
      Party has a fiduciary relationship with or a duty to the Guarantors arising
      out
      of or in connection with this Guarantee or any of the other Loan Documents
      to
      which it is a party, and the relationship between the Guarantors and the Borrower s
      on the
      one hand, and the Guarantors and each Lender Party, on the other hand, in
      connection herewith or therewith is solely that of debtor and creditor;
      and




no
      joint
      venture is created hereby or by the other Loan Documents or otherwise exists
      by
      virtue of the transactions contemplated hereby among any Guarantor, any Borrower and each
      Lender Party.




WAIVER
      OF JURY TRIAL .
      EACH
      GUARANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY
      LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE OR ANY OTHER LOAN DOCUMENT
      AND FOR ANY COUNTERCLAIM THEREIN.









[ *Signature
      Pages Follow* ]

















IN
      WITNESS WHEREOF, each of the undersigned has caused this Guarantee to be duly
      executed and delivered by its duly authorized officer as of the day and year
      first above written.




U-HAUL
      INTERNATIONAL, INC.




By:  ______________________




Name:




Title:




Address
      for Notices:




2727
      North Central Avenue




Phoenix,
      Arizona 85004




Tel:  (775)
      688-6300




Fax:  (775)
      688-6338




AMERCO




By:  ______________________




Name:




Title:




Address
      for Notices:




1325
      Airmotive Way, Ste. 100




Reno,
      Nevada 89502-3239




Tel:  [(775)
      688-6300]




Fax:  [(775)
      688-[____]]











Date:
                May __, 2006
              
              ACCEPTED
                AND AGREED:
              
              BTMU
                CAPITAL CORPORATION
              
              By:______________________
              Name:
              Title:
              
              ORANGE
                TRUCK TRUST 2006
              
              By:
                Wells Fargo Bank Northwest, National Association, solely as
                Trustee
              
              By:______________________
              Name:
              Title: