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                                                                   EXHIBIT 10.20

                              INDEMNITY AGREEMENT

      THIS INDEMNITY AGREEMENT is made and entered into as of April 15, 2003,
by and between DEL MAR MORTGAGE, INC., a Nevada corporation, having an address
of 2901 El Camino Avenue, Suite 206, Las Vegas, Nevada 89102 ("Del Mar"), on the
one hand, and VESTIN GROUP, INC., a Delaware corporation, and VESTIN MORTGAGE,
INC., a Nevada corporation (together, "Indemnitees"), each with an address of
2901 El Camino Avenue, Las Vegas, Nevada 89102, on the other hand.

                                    RECITALS

      WHEREAS, Indemnitees and Del Mar are named as defendants in that certain
lawsuit brought by Desert Land, L.L.C., Casa Malaga Hotel, Inc., and Howard
Bulloch against Del Mar, Indemnitees, and others, now pending in the United
States District Court for the District of Nevada, Case Number CV-S-00-1406-JCM
(the "Action").

      WHEREAS, a judgment was entered in the Action on April 11, 2003, in the
amount of $5,047,815.21, plus interest from March 26, 2003, against Del Mar and
Indemnitees, jointly and severally (the "Judgment").

      WHEREAS, Indemnitees have demanded that they be indemnified by Del Mar for
claims, liabilities, and costs arising out of or connected with the Action, and,
to compromise the disputes between Indemnitees and Del Mar arising out of the
events underlying the Action, Del Mar is willing to indemnify Indemnitees,
subject to the terms and conditions of this Agreement.

      WHEREAS, due to the amount of the Judgment, Indemnitees have required Del
Mar to obtain the guaranty by its shareholder of Del Mar's obligations under
this Agreement.

      NOW, THEREFORE, in consideration of the foregoing premises and the
covenants contained herein, Del Mar and Indemnitees hereby agree as follows:

      1. Indemnification by Del Mar. Del Mar shall indemnify, defend and hold
Indemnitees, and each of them, harmless from and against, and reimburse
Indemnitees for, any and all claims, Obligations, liabilities, losses, damages,
fines, penalties, actions, suits, settlements, judgments, costs and expenses
(including reasonable attorneys' fees) of whatever kind or nature, whether or
not well founded, meritorious or unmeritorious, demanded, asserted or claimed
against Indemnitee (collectively, "Claims") in any way relating to, or arising
out of or in connection with the Action, to the fullest extent permitted by
California law.

      2. Selection of Counsel. In the event Del Mar shall be obligated under
Section 1 hereof to pay the expenses of any proceeding against Indemnitees, Del
Mar shall be entitled to assume the defense of such proceeding upon the delivery
to

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Indemnitees of written notice of Del Mar's election so to do. After delivery of
such notice and the retention of such counsel by Del Mar, Del Mar will be
responsible for payment of counsel's fees and court costs but will not be liable
to Indemnitees under this Agreement for any fees or court costs of counsel
incurred by counsel retained by Indemnitees with respect to the same proceeding;
provided, however, that: (a) Indemnitees shall have the right to employ their
counsel in any such proceeding at Indemnitees' expense; and (b) if (i) Del Mar
shall have reasonably concluded that there may be a conflict of interest between
Del Mar and Indemnitees in the conduct of any such defense or (ii) Del Mar has
not, in fact, have employed counsel to assume the defense of such proceeding,
then the fees and expenses of Indemnitees' counsel shall be at the expense of
Del Mar.

      3. Representations of Indemnitees. To induce Del Mar to enter into this
Agreement, Indemnitees each hereby represent and warrant to Del Mar that they
reasonably believed that their actions in connection with the facts and
circumstances that are being litigated in the Action were at all times in good
faith with respect to such facts and circumstances.

      4. Advancement of Expenses; Undertakinq of Indemnitees. Del Mar hereby
agrees to advance expenses incurred or to be incurred by Indemnitees that would
be covered by this Agreement, in advance of any final disposition of the Action
on the merits or in settlement. In consideration of Del Mar's agreement to
advance expenses in this Section, Indemnitees hereby agree to reimburse Del Mar
if they are ultimately found by a decision of a court of competent jurisdiction
not to be entitled to reimbursement for their expenses under California law or
under this Agreement.

      5. Partial Indemnity. If Indemnitee is entitled to partial, but not
complete indemnification under this Agreement, Del Mar shall nevertheless
indemnify Indemnitees for the portion of the Claims to which Indemnitees is
entitled to indemnity hereunder.

      6. Subrogation of Del Mar. Upon payment of any Claim by Del Mar pursuant
to Section 1 of this Agreement, Del Mar, without any further action, shall be
subrogated to any and all claims that Indemnitees may have relating thereto, and
Indemnitees shall cooperate with Del Mar and give such further assurances as are
necessary or advisable to enable Del Mar vigorously to pursue such claims.

      7. Successors and Assigns. This Agreement shall inure to the benefit of
the successors and assigns of Indemnitees. This Agreement is binding upon Del
Mar and its successors and assigns.

      8. Headings. The section headings in this Agreement are for the
convenience of reference only and shall not affect the meaning or construction
of any provision hereof.

      9. Counterparts. This Agreement may be executed in any number of
counterparts, and each counterpart shall be deemed an original, but all such
separate counterparts together shall constitute only one and the same
instrument.

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      10. Severability. Any provision of this Agreement which is held to be
invalid 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 or affecting the validity or
enforceability of such provision in any other jurisdiction.

      11. Waiver. Failure by any party at any time to require the other party's
performance of any obligation under this Agreement shall not affect its right to
require performance of that obligation. Any waiver of any breach of any
provision of this Agreement shall not be construed as a waiver of any continuing
or succeeding breach of such provision, a waiver or modification of the
provision itself, or a waiver or modification of any right under this Agreement.
No waiver shall be binding unless executed in writing by the party making the
waiver.

      12. Modifications. No modification, amendment or supplement to this
Agreement shall be effective for any purpose unless in writing and signed by
each party, and then such modification, amendment or supplement shall be
effective only in the specific instances and the specific purposes for which
given.

      13. Legal Fees and Costs. If any legal action or other proceeding is
commenced to enforce this Agreement, the successful or prevailing party will be
entitled to recover its reasonable attorneys' fees and other costs incurred in
any such action or proceeding, in addition to any other relief to which it may
be entitled.

      14. Entire Agreement. This Agreement constitutes the entire agreement
between the parties pertaining to the subject matter of this Agreement, and
supersedes all prior and contemporaneous agreements, representations, and
understandings of the parties, No party is relying upon any warranties,
representations, definitions, or inducements not set forth in this Agreement.

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      IN WITNESS WHEREOF, Del Mar and Indemnitees have caused this Agreement to
be duly executed and delivered as of the date first written above.

                                    DEL MAR MORTGAGE, INC., a Nevada
                                    corporation

                                    By:    /s/ Michael Shustek
                                           ----------------------------
                                    Name:  Michael Shustek
                                           ----------------------------
                                    Title: President
                                           ----------------------------

                                    VESTIN GROUP, INC., a Delaware
                                    corporation

                                    By:    /s/ Michael Shustek
                                           ----------------------------
                                    Name:  Michael Shustek
                                           ----------------------------
                                    Title: CEO
                                           ----------------------------

                                    VESTIN MORTGAGE, INC., a Nevada
                                    corporation

                                    By:    /s/ Michael Shustek
                                           ----------------------------
                                    Name:  Michael Shustek
                                           ----------------------------
                                    Title: Director
                                           ----------------------------

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                                                                   EXHIBIT 10.21

                                    GUARANTY

      WHEREAS, DEL MAR MORTGAGE, INC., a Nevada corporation, with offices at
2901 El Camino Avenue, Suite 206, Las Vegas, Nevada 89102 (the "Debtor"), has
executed an Indemnity Agreement in favor of VESTIN GROUP, INC., a Delaware
corporation, and VESTIN MORTGAGE, INC., a Nevada corporation (together,
"Indemnitee") with offices at 2901 El Camino Avenue, Las Vegas, Nevada 89102;

      WHEREAS, the Indemnitee is not willing to agree to the indemnity Agreement
with Debtor unless it receives a guaranty of the undersigned (the "Guarantor")
covering Debtor's indebtedness to Indemnitee under the Indemnity Agreement;

      WHEREAS, Guarantor is the sole shareholder of Debtor and is willing to
execute and perform this Guaranty;

      NOW, THEREFORE, in consideration of the foregoing premises and for other
good and valuable consideration, the receipt of which is hereby acknowledged,
Guarantor unconditionally guarantees and promises to pay Indemnitee, or order,
on demand, in lawful money of the United States, any and all indebtedness of
Debtor to Indemnitee under the Indemnity Agreement (the "Indebtedness").
Guarantor agrees that whenever at any time or from time to time he shall make
any payment to Indemnitee hereunder on account of the Guarantor's liability
hereunder, he will notify Indemnitee in writing that such payment is made under
this Guaranty for such purpose,

      The obligations hereunder are independent of the obligations of Debtor,
and a separate action or actions may be brought and prosecuted against Guarantor
regardless of whether action is brought against Debtor or whether Debtor be
joined in any such action or actions.

      Guarantor authorizes Indemnitee, without notice or demand and without
affecting his liability hereunder, from time to time to (a) create new
indebtedness, renew, compromise, extend, accelerate or otherwise change the time
for payment of, or otherwise change the terms of the Indebtedness or any part
thereof; (b) otherwise exercise any right or remedy it may have against Debtor;
(c) refrain from setting off and release, in whole or in part, any balance of
any credit on its books in favor of Debtor or any other person; and (d) settle,
compromise with, release or substitute any one or more of the makers, endorsers
or guarantors of the Indebtedness.

      The liability of the Guarantor hereunder shall be reinstated and revived,
and the rights of Indemnitee shall continue with respect to any amount at any
time paid on account of the Indebtedness which shall thereafter be required to
be returned or restored by Indemnitee upon the insolvency, reorganization or
bankruptcy of Debtor, all as if such amount had not been paid to Indemnitee.

      This is a guaranty of payment and not of collection and is not conditioned
or contingent upon the genuineness, validity, regularity, or enforceability of
the indebtedness or any documents or actions relating to the creation or
performance of the Indebtedness. Guarantor waives any right to require
Indemnitee to (a) proceed against Debtor; (b) proceed against or exhaust any
security held from Debtor; or (c) pursue any other remedy in Indemnitee's power

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whatsoever. Guarantor waives any defense arising by reason of any disability or
other defense of Debtor or by reason of the cessation from any cause whatsoever
of the liability of Debtor. Until all of the Indebtedness shall have been paid
in full, even though such Indebtedness is in excess of Guarantor's liability
hereunder, Guarantor shall have no right of subrogation, and waive any right to
enforce any remedy which Indemnitee now has or may hereafter have against
Debtor, and waive any benefit of, and any right to participate in any security
now or hereafter held by Indemnitee. Guarantor waives all presentments, demands
for performance or payment, notices of protest or dishonor, notices of default,
notices of acceptance of this Guaranty and of the existence, creation, or
incurring of a new or additional indebtedness of Debtor to Indemnitee, and all
other notices. Guarantor waives the benefit of any statute of limitations
affecting his liability hereunder or the enforcement thereof. Guarantor waives
any and all suretyship defenses he may have under the laws of California or any
other state. GUARANTOR WAIVES ALL RIGHTS AND DEFENSES ARISING OUT OF AN ELECTION
OF REMEDIES BY INDEMNITEE, EVEN THOUGH THAT ELECTION OF REMEDIES, SUCH AS A
NONJUDICIAL FORECLOSURE WITH RESPECT TO SECURITY FOR A GUARANTEED OBLIGATION,
HAS DESTROYED THE GUARANTOR'S RIGHTS OF SUBROGATION AND REIMBURSEMENT AGAINST
DEBTOR BY THE OPERATION OF CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 580D OR
OTHERWISE.

      All moneys available to Indemnitee for application in payment or reduction
of the indebtedness of Debtor may be applied by Indemnitee in such manner and in
such amounts and at such time or times as it may see fit to the payment or
reduction of such of the Indebtedness as Indemnitee may elect. Any indebtedness
of Debtor now or hereafter held by Guarantor is hereby subordinated to the
Indebtedness; and such indebtedness if Indemnitee so requests shall be
collected, enforced and received by Guarantor as trustee for Indemnitee and
shall be paid over to Indemnitee on account of the Indebtedness but without
reducing or affecting in any manner the liability of Guarantor under the other
provisions of this Guaranty.

      Indemnitee may without notice assign this Guaranty or any of its rights
and powers hereunder with all or any of the Indebtedness and, in the event of
such assignment, the assignee hereof or of such rights and powers shall have the
same rights and remedies as if originally named herein in place of Indemnitee.
This Guaranty and all rights, obligations and liabilities arising hereunder
shall be construed according to the laws of the State of Nevada. Unless the
context otherwise requires, all terms used herein which are defined in the
Nevada Uniform Commercial Code shall have the meanings therein stated.

      It is not necessary for Indemnitee to inquire into the powers of Debtor or
the officers, directors, partners, managers, members, or agents acting or
purporting to act on their behalf, and any Indebtedness made or created in
reliance upon the professed exercise of such powers shall be guaranteed
hereunder.

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      Any provision of this Guaranty held to be unenforceable, invalid or
illegal shall be severable from the rest of this Guaranty and shall not affect
the remaining provisions hereof or the validity or enforceability of such
provisions in any other jurisdiction.

      Guarantor warrants and agrees that each waiver set forth herein is made
with full knowledge of its importance and consequences and, therefore, is not
contrary to law or public policy.

      No delay on the part of Indemnitee in exercising any right hereunder or
failure to exercise the same shall operate as a waiver of such right; no notice
to or demand on Guarantor shall be deemed a waiver of the obligation of
Guarantor or of the right of Indemnitee to take further action without notice or
demand as provided herein; nor in any event shall any modification or waiver of
the provisions of this Guaranty be effective unless in writing nor shall any
such waiver be applicable except in the specific instance for which it was
given.

      The liability of Guarantor under this Guaranty shall not exceed the
maximum amount that can be hereby incurred without rendering this Guaranty, as
it relates to Guarantor, voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer. This paragraph is intended solely to preserve
the rights of Indemnitee hereunder to the maximum extent that would not cause
Guarantor's liability hereunder to be subject in part to avoidance under
applicable law, and neither Guarantor nor any other person shall have any right
or claim under this paragraph. Guarantor agrees to pay a reasonable attorneys'
fees and all other costs and expenses which may be incurred by Indemnitee in the
enforcement of this Guaranty and of the indebtedness.

      Any married person who signs this Guaranty hereby expressly agrees that
recourse may be had against his/her separate property for all his/her
obligations under this Guaranty. This Guaranty may only be modified or amended
by a signed writing between Guarantor and Indemnitee.

      IN WITNESS WHEREOF, Guarantor has executed this Guaranty as of April 15,
2003

                                    /s/ Michael V. Shustek
                                    ------------------------
                                    Name: Michael V. Shustek

State of Nevada    )
                   ) ss.
County of Clark    )

      On the 15th day of August, 2003, personally appeared before me a Notary
Public in and for said County and State, Michael V. Shustek, known to me to be
the person that executed the foregoing instrument, and upon oath did depose that
he executed the instrument freely and voluntarily and for the uses and purposes
therein men

                                    /s/ Tenille T. Schnepp
                                    ----------------------
                                    Notary Public

                                                                   [NOTARY SEAL]
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