<PAGE>
                                                                   EXHIBIT 10.94

Order No.
Escrow No.
Loan No.



WHEN RECORDED MAIL TO:

Hunter's Ridge Investment Partners
c/o Thomas E. Gibbs, Jr.
79 West 190th Street, Suite 400
Gardena,  CA  90248

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                                   SPACE ABOVE THIS LINE FOR RECORDER'S USE

                    DEED OF TRUST WITH ASSIGNMENT OF RENTS
                                  (LONG FORM)


This DEED OF TRUST, made                                           ,between

  INCO HOMES CORPORATION, a Delaware corporation      herein called TRUSTOR,

whose address is 1282 West Arrow Highway      Upland       California  91786
        (Number and Street)                    (City)        (State)

       ORANGE COST TITLE COMPANY, a California corporation, herein called
TRUSTEE, and

  HUNTER'S RIDGE INVESTMENT PARTNERS,  a California partnership, herein called
BENEFICIARY, WITNESSETH: That Trustor grants to Trustee in trust, with power of
sale, that property in the City of Fontana
             County of San Bernardino     , State of California, described as:

       SEE EXHIBIT A ATTACHED HERETO AND INCORPORTED HEREIN.
           ---------



together with the rents, issues and profits thereof, subject, however, to the
right, power and authority hereinafter given to and conferred upon Beneficiary
to collect and apply such rents, issues and profits for the purpose of securing
(1) payment of the sum of $473,972.60 with interest hereon according to the
terms of a promissory note or notes of even date herewith made by Trustor,
payable to order of Beneficiary, and extensions or renewals thereof, (2) the
performance of each agreement of Trustor incorporated by reference or contained
herein and (3) payment of additional sums and interest thereon which may
hereafter be loaned to Trustor, or his successors or assigns, when evidenced by
a promissory note or notes reciting that they are secured by this Deed of Trust.

  To protect the security of this Deed of Trust, Trustor agrees:

  (1) To keep said property in good condition and repair; not to remove or
demolish any building thereon; to complete or restore promptly and in good and
workmanlike manner any building which may be constructed, damaged or destroyed
thereon and to pay when due all claims for labor performed and materials
furnished therefor to comply with all laws affecting said property or requiring
any alterations or improvements to be made thereon; not to commit or permit
waste thereof; not to commit, suffer or permit any act upon said property in
violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all
other acts which from the character or use of said property may be reasonably
necessary, the specific enumerations herein not excluding the general.

  (2) To provide, maintain and deliver to Beneficiary fire insurance
satisfactory to and with loss payable to Beneficiary. The amount collected under
any ^^^ or other insurance policy may be applied by Beneficiary upon any
indebtedness secured hereby and in such order as Beneficiary may determine, or
^^^^ option of Beneficiary the entire amount so collected or any part hereof may
be released to Trustor. Such application or release shall not cure or waive ^^
any default or notice of default hereunder or invalidate any act done pursuant
to such notice.

  (3)  To appear in and defend any action or proceeding purporting to affect the
security hereof or the rights or powers of Beneficiary or Trustee.

  (4) To pay: at least ten days before delinquency all taxes and assessments
affecting said property, including assessments on appurtenant water stock; when
due, all encumbrances, charges and liens, with interest, on said property or any
part thereof, which appear to be prior or superior hereto; all allowable
expenses of this Trust.


(Personal Property Broker Law)         (continued on reverse side)
(Industrial Loan Law)


<PAGE>

    Should Trustor fail to make any payment or to do any act as herein provided,
then Beneficiary or Trustee, but without obligation so to do and without notice
to or demand upon Trustor and without releasing Trustor from any obligation
hereof, may: make or do the same in such manner and to such extent as either may
deem necessary to protect the security hereof, Beneficiary or Trustee being
authorized to enter upon said property for such purposes; appear in and defend
any action or proceeding purporting to affect the security hereof or the rights
or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any
encumbrance, charge or lien which in the judgment of either appears to be prior
or superior hereto; and, in exercising any such powers, pay allowable expenses.

    (5) To pay immediately and without demand all allowable sums so expended by
Beneficiary or Trustee, with interest from date of expenditure at the amount
allowed by law in effect at the date hereof.

B.  It is mutually agreed:

    (1) That any award of damages in connection with any condemnation for public
use of or injury to said property or any part thereof is hereby assigned and
shall be paid to Beneficiary who may apply or release such moneys received by
him in the same manner and with the same effect as above provided for
disposition of proceeds of fire or other insurance.

    (2) That by accepting payment of any sum secured hereby after its due date,
Beneficiary does not waive his right either to require prompt payment when due
of all other sums so secured or to declare default for failure so to pay.

    (3) That at any time or from time to time, without liability therefor and
without notice, upon written request of Beneficiary and presentation of this
Deed and said note for endorsement, and without affecting the personal liability
of any person for payment of the indebtedness secured hereby, Trustee may:
reconvey any part of said property; consent to the making of any map or plat
thereof; join in granting any easement thereon; or join in any extension
agreement or any agreement subordinating the lien or charge hereof.

    (4) That upon written request of beneficiary stating that all sums secured
hereby have been paid, and upon surrender of this Deed and said note to Trustee
for cancellation and retention or other disposition as Trustee in its sole
discretion may choose and upon payment of its fees, Trustee shall reconvey,
without warranty, the property then held hereunder. The recitals in such
reconveyance of any matters or facts shall be conclusive proof of the
truthfulness thereof. The Grantee in such reconveyance may be described as
"the person or persons legally entitled thereto."

    (5) That as additional security, Trustor hereby gives to and confers upon
Beneficiary the right, power and authority, during the continuance of these
Trusts, to collect the rents, issues and profits of said property, reserving
unto Trustor the right, prior to any default by Trustor in payment of any
indebtedness secured hereby or in performance of any agreement hereunder, to
collect and retain such rents, issues and profits as they become due and
payable. Upon any such default, Beneficiary may at any time without notice,
either in person, by agent, or by a receiver to be appointed by a court, and
without regard to the adequacy of any security for the indebtedness hereby
secured, enter upon and take possession of said property or any part thereof, in
his own name sue for or otherwise collect such rents, issues, and profits,
including those past due and unpaid, and apply the same, less allowance expenses
of operation, upon any indebtedness secured hereby, and in such order as
Beneficiary may determine. The entering upon and taking possession of said
property, the collection of such rents, issues and profits and the application
thereof as aforesaid, shall not cure or waive any default or notice of default
hereunder or invalidate any act done pursuant to such notice.

    (6) That upon default by Trustor in payment of any indebtedness secured
hereby or in performance of any agreement hereunder, Beneficiary may declare all
sums secured hereby immediately due and payable by delivery to Trustee of
written declaration of default and demand for sale and of written notice of
default and of election to cause to be sold said property, which notice Trustee
shall cause to be filed for record. Beneficiary also shall deposit with Trustee
this Deed, said note and all documents evidencing expenditures secured hereby.

    After the lapse of such time as may then be required by law following the
recordation of said notice of default and notice of sale having been given as
then required by law, Trustee, without demand on Trustor, shall sell said
property at the time and place fixed by it in said notice of sale, either as a
whole or in separate parcels, and in such order as it may determine, at public
auction to the highest bidder for cash in lawful money of the United States,
payable at time of sale. Trustee may postpone sale of all or any portion of said
property by public announcement at such time and place of sale, and from time to
time thereafter may postpone such sale by public announcement at the time fixed
by the preceding postponement. Trustee shall deliver to such purchaser its deed
conveying the property so sold, but without any covenant or warranty, express or
implied. The recitals in such deed of any matters or facts shall be conclusive
proof of the truthfulness thereof. Any person, including Trustor, Trustee, or
Beneficiary as hereinafter defined, may purchase at such sale.

    After deducting all costs, fees and expenses of Trustee and of this Trust,
including cost of evidence of title in connection with sale, Trustee shall apply
the proceeds of sale to the payment of: all sums expended under the terms
hereof, not then repaid, with accrued interest at the amount allowed by law in
effect at the date hereof; all other sums then secured hereby; and the
remainder, if any, to the person or persons legally entitled thereto. However,
all costs, fees and expenses set forth in this paragraph shall not be applicable
nor charged to the Trustor or his successor in interest.

    (7) Beneficiary, or any successor in ownership of any indebtedness secured
hereby, may from time to time, by instrument in writing, substitute a successor
or successors to any Trustee named herein or acting hereunder, which instrument,
executed by the Beneficiary and duly acknowledged and recorded in the office of
the recorder of the county or counties where said property is situated, shall be
conclusive proof of proper substitution of such successor Trustee or Trustees,
who shall, without conveyance from the Trustee predecessor, succeed to all its
title, estate, rights, powers and duties. Said instrument must contain the name
of the original Trustor, Trustee and Beneficiary hereunder, the book and page
where this Deed is recorded and the name and address of the new Trustee.

    (8) That this Deed applies to, inures to the benefit of, and binds all
parties hereto, their heirs, legatees, devisees, administrators, executors,
successors and assigns. The term Beneficiary shall mean the owner and holder,
including pledgees, of the note secured hereby, whether or not named as
Beneficiary herein. In this Deed, whenever the context so requires, the
masculine gender includes the feminine and/or neuter, and the singular number
includes the plural.

    (9) That Trustee accepts this Trust when this Deed, duly executed and
acknowledged, is made a public record as provided by law. Trustee is not
obligated to notify any party hereto of pending sale under any other Deed of
Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee
shall be a party unless brought by Trustee.

    (10) The term "allowable" as referred to in this Deed of Trust is defined as
pertaining only to those charges, costs, and expenses as permitted under the
"Personal Property Broker Law," or under the "Industrial Loan Law."

    The undersigned Trustor, requests that a copy of any notice of default and
of any notice of sale hereunder be mailed to him at his address hereinbefore set
forth.

                           (continued on next page)
<PAGE>
===============================================================================
In accordance with Section 2924b, Civil Code, request is hereby made by the
undersigned TRUSTOR that a copy of any Notice of Default and a copy of any
Notice of Sale under the Deed of Trust recorded October 22, 1996 as Instrument
No. 96-390256, in Book      , Page      , Official Records of San Bernardino
County, California, as affecting the above described property, executer by
                as Trustor in which Independent Lending Corporation, a Delaware
corporation is named as Beneficiary, and Orange Coast Title Company as Trustee,
be mailed to Hunter's Ridge Investment Partners whose address is c/o Thomas E.
Gibbs, Jr. 879 West 190th St., Suite 400, Gardena, CA  90248
(Number and Street)                (City)          (State) (Zip Code)

NOTICE: A copy of any notice of default and of any notice of sale will be sent
only to the address contained in this recorded request. If your address changes,
a new request must be recorded.
================================================================================


          Signature of Trustor                      Signature of Trustor

INCO HOMES CORPORATION,
a Delaware corporation
------------------------------------   ----------------------------------------

By: /S/ Ira C. Norris
------------------------------------   ----------------------------------------
    Ira C. Norris
    President

STATE OF CALIFORNIA                }
COUNTY OF     SAN BERNARDINO       }ss.
         --------------------------}
On  Nov. 14, 1997                   before me,  LESLIE ADKISON, NOTARY PUBLIC,
  ---------------------------------            ------------------------------
personally appeared  IRA C. NORRIS                                           ,
                   ----------------------------------------------------------
personally known to me to be the person whose name is subscribed to the
within instrument and acknowledged to me that he executed the same in his
authorized capacity, and that by his signature on the instrument the person or
the entity upon behalf of which the person acted, executed the instrument.

WITNESS, my hand and official seal.

Signature  /s/ Leslie Adkison                          [Seal of Notary Public]
         ----------------------------


DO NOT RECORD                                   REQUEST FOR FULL RECONVEYANCE

TO FIRST FIDELITY NATIONAL INSURANCE COMPANY, TRUSTEE:

  The undersigned is the legal owner and holder of the note or notes, and of all
other indebtedness secured by the foregoing Deed of Trust. Said note or notes,
together with all other indebtedness secured by said Deed of Trust, have been
fully paid and satisfied; and you are hereby requested and directed, on payment
to you of any sums owing to you under the terms of said Deed of Trust, to cancel
said note or notes above mentioned, and all other evidences of indebtedness
secured by said Deed of Trust delivered to you herewith, together with the said
Deed of Trust, and to reconvey, without warranty, to the parties designated by
the terms of said Deed of Trust, all the estate now held by you under the same.

  Dated
       ---------------------------------

                                        ----------------------------------------

                                        ----------------------------------------

Please mail Deed of Trust,
Note and Reconveyance to
                          ------------------------------------------------------

Do not lose or destroy this Deed of Trust OR THE NOTE which it secures. Both
must be delivered to the Trustee for cancellation before reconveyance will be
made.
<PAGE>


                                   EXHIBIT A
                                   ---------

THE REAL PROPERTY SITUATED IN THE STATE OF CALIFORNIA, COUNTY OF SAN BERNARDINO
AND DESCRIBED AS FOLLOWS:


LOTS 1 THROUGH 42 INCLUSIVE OF TRACT NO. 14571-1, IN THE CITY OF FONTANA,
COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 263,
PAGES 41 THROUGH 46 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF
SAID COUNTY.

EXCEPTING THEREFROM ALL MINERALS, OIL, GAS, PETROLEUM, OTHER HYDROCARBON
SUBSTANCES, AND ALL UNDERGROUND WATER IN, ON, UNDER OR WHICH MAY BE PRODUCED
FROM THE PROPERTY WHICH UNDERLIES A PLANE PARALLEL TO AND 500 FEET BELOW THE
SURFACE OF THE PROPERTY FOR THE PURPOSES OF PROSPECTING AND EXPLORING FOR THE
DEVELOPMENT, PRODUCTION, EXTRACTION AND TAKING OF SAID MINERALS, OIL, GAS,
PETROLEUM, OTHER HYDROCARBON SUBSTANCES AND WATER FROM THE PROPERTY BY MEANS OF
MINES, WELLS, DERRICKS AND/OR OTHER EQUIPMENT FROM SURFACE LOCATIONS ON
ADJOINING OR NEIGHBORING LAND OR LYING OUTSIDE OF THE PROPERTY, IT BEING
UNDERSTOOD THAT THE OWNER OF SUCH MINERALS, OIL, GAS PETROLEUM, OTHER
HYDROCARBON SUBSTANCES AND WATER, AS SET FORTH ABOVE, SHALL HAVE NO RIGHT TO
ENTER UPON THE SURFACE OF THE PROPERTY, NOR TO USE THE PROPERTY OR ANY PORTION
THEREOF ABOVE SAID PLANE PARALLEL TO, AND 500 FEET BELOW THE SURFACE OF THE
PROPERTY FOR ANY PURPOSE WHATEVER, AS RESERVED BY FIRST CITY/HUNTER'S RIDGE
LIMITED PARTNERSHIP, A CALIFORNIA LIMITED PARTNERSHIP, BY DEED RECORDED OCTOBER
22, 1996 AS INSTRUMENT NO. 96-390252 OF OFFICIAL RECORDS.