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                                                                  EXHIBIT 10.220

                               ELEVENTH AMENDMENT
                     TO ASSIGNMENT AND ASSUMPTION AGREEMENT

This Eleventh Amendment (the "Amendment") to Assignment and Assumption
Agreement, by and between RER Corp., COMAY Corp., GROWTH REALTY INC. and H&H
FINANCIAL, INC. (the "Assignors") and MEGO FINANCIAL CORP., formerly named Mego
Corp., (the "Assignee")

                                   WITNESSETH:

WHEREAS, the Assignors are parties to the Assignment Agreement dated October 25,
1987, with the Assignee, and the Assignment and Assumption Agreement, dated
February 1, 1988, between the Assignors and the Assignee, which two agreements
were amended by the Amendment to Assignment and Assumption Agreement dated July
29, 1988 and by the Second Amendment to Assignment and Assumption Agreement
dated as of March 2, 1995, the Third Amendment to Assignment and Assumption
Agreement dated as of August 20, 1997 and the Fourth, Fifth, Sixth, Seventh and
Eighth, Ninth and Tenth Amendments to Assignment and Assumption Agreement dated
as of February 26, 1999, May 28, 1999, August 9, 1999, November 20, 1999,
January 31, 2000, April 30, 2000 and August 31, 2000, respectively, between the
Assignors and the Assignee (collectively, the described agreements as so amended
are hereinafter referred to as the "Assignment"); and

        WHEREAS, the Assignment fixed the date of January 31, 1995 as the date
on which the accrual of amounts due to the Assignors under the Assignment would
terminate, except for interest on any of such amounts which remained unpaid; and

        WHEREAS, the amount due the Assignors as of January 31, 1995 was
$13,328,742.25, plus interest from January 28, 1995, in the amount of $9,322.57,
collectively, and with interest from January 31, 1995 to March 2, 1995 (the
"Amount Due"); and

        WHEREAS, $10,000,000 of the Amount Due was agreed to be considered
subordinated debt (the "Subordinated Debt"), against which payments were made as
follows: (i) $1,428,571.43 was paid on March 1, 1997 as scheduled, (ii)
$4,250,000 was deemed paid by credit against the exercise price of certain
warrants as is set forth in the Third Amendment, and (iii) $35, 714.28 was paid
on September 1, 1998, leaving a remaining balance of the Subordinated Debt of
$4,285,714.29; and

        WHEREAS, the balance of the Subordinated Debt continues to be secured by
a pledge of all of the issued and outstanding common stock of Preferred Equities
Corporation (and any distributions in respect thereto) pursuant to a Pledge and
Security Agreement dated as of February 1, 1988 (the "Pledge Agreement") between
the Assignee and the Assignors; and

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        WHEREAS, interest on the Subordinated Debt has been paid through
September 1, 2000; and

        WHEREAS, under the terms of the Assignment, all of the principal in the
amount of $4,285,714.29 will be due and payable on December 1, 2000; and

        WHEREAS, the Assignee has requested that the Assignors further defer the
payment of principal of the Subordinated Debt payable on December 1, 2000, in
the total amount of $4,285,714.29, to March 1, 2001.

        NOW THEREFORE, in consideration of the mutual covenants herein contained
it is hereby agreed as follows:

        1. The statements in the foregoing preamble are true and correct.

        2. The payments previously deferred to December 1, 2000, totaling in the
aggregate $4,285,714.29, and hereby deferred to March 1, 2001.

        3. The Assignee and Assignors agree that all amounts due to Assignors
pursuant to the Assignment as amended by this Amendment shall continue to be
secured as set forth in the Pledge Agreement and that the Pledge Agreement
remains in full force and effect.

        4. The Assignee and Assignors agree that this Amendment is an amendment
to the Assignment and not a novation, and that except as modified hereby, all
terms and conditions of the Assignment, including but not limited to provisions
with respect to the payment of interest and acceleration of the entire balance
of principal and interest if any payment is not made within 30 days of its due
date, shall remain in full force and effect.

        5. It is agreed that this Amendment may be signed in counterparts, and
all such counterparts in the aggregate shall constitute one agreement.

        IN WITNESS WHEREOF, the parties have duly executed this Amendment as of
November 15, 2000.

        MEGO FINANCIAL CORP.                   H&H Financial, Inc

        By:  /s/ Jerome J. Cohen               By:  /s/ Herbert Hirsch
            ------------------------------         ----------------------------
            Jerome J. Cohen, President             Title: President

        RER CORP.                              Growth Realty Inc.

        By:  /s/ Robert Nederlander            By:  /s/ Eugene Schuster
            ------------------------------         ----------------------------
            Title: President                       Title: C.E.O.

        Comay Corp

        By:  /s/ Jerome J. Cohen
            ------------------------------
            Title: President

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                                                                     EXHIBIT 4.1

                                SECOND AMENDMENT
                                     TO THE
                      1995 EMPLOYEE STOCK PURCHASE PLAN OF
                               SPEEDFAM-IPEC, INC.
                         AS AMENDED AS OF APRIL 6, 1999

      Pursuant to Section 15 of the 1995 Employee Stock Purchase Plan of
SpeedFam-IPEC, Inc., as amended as of April 6, 1999, as follows:

      1. The title of the plan shall be changed to "1995 EMPLOYEE STOCK PURCHASE
PLAN OF SPEEDFAM-IPEC, INC. AS AMENDED AS OF OCTOBER 13, 2000."

      2. Section 10.a. shall be amended by substituting "(a) 1,300,000 shares
plus (b) an annual increase to be added on June 1 of each year (beginning June
1, 2001) equal to the lesser of (i) 1,000,000 shares, (ii) 1% of the outstanding
shares of the Company, or (iii) a number of shares determined by the Board of
Directors of the Company" for "1,000,000 shares."

      IN WITNESS WHEREOF, this Second Amendment to the 1995 Employee Stock
Purchase Plan of SpeedFam-IPEC, Inc. has been executed by SpeedFam-IPEC, Inc.
on this 13th day of October, 2000.

                                          SPEEDFAM-IPEC, INC.

                                          By: /s/ J. Michael Dodson
                                              ---------------------------------
                                              J. Michael Dodson
                                              Secretary and Chief
                                              Financial Officer
                                              (Principal Financial Officer)

                                          By: /s/ G. Michael Latta
                                              ---------------------------------
                                              G. Michael Latta
                                              Corporate Controller
                                              (Principal Accounting Officer)<PAGE>   1
                                                                     EXHIBIT 4.1

                                 THIRD AMENDMENT
                                     TO THE
                 1995 STOCK PLAN FOR EMPLOYEES AND DIRECTORS OF
                               SPEEDFAM-IPEC, INC.
                         AS AMENDED AS OF APRIL 6, 1999

         Pursuant to Section 15 of the 1995 Stock Plan for Employees and
Directors of SpeedFam-IPEC, Inc., as amended as of April 6, 1999, as follows:

         1. The title of the plan shall be changed to "1995 STOCK PLAN FOR
EMPLOYEES AND DIRECTORS OF SPEEDFAM-IPEC, INC. AS AMENDED AS OF OCTOBER 13,
2000."

         2. Paragraph 2.b. shall be amended by substituting "5,300,000" for
"3,300,000."

         3. Paragraph 3.b. shall be amended by inserting after the phrase "and
to make all other determinations deemed necessary or advisable for the
administration of the Plan" the following: "Notwithstanding the foregoing, the
Committee will not have the authority to reprice any options without (i) the
consent of a majority of the stockholders present at an annual or special
meeting or represented by proxy and entitled to vote on the proposal at the
annual or special meeting or (ii) the written consent of the stockholders in
accordance with the Company's bylaws."

         4. Paragraph 4.e. shall be amended by substituting "5,300,000" for
"3,300,000" and by substituting the sentence "Each Eligible Director Stock
Option granted to an Eligible Director on or after October 13, 2000 shall be
immediately exercisable and fully vested" for the sentences reading "Each
Eligible Director Stock Option granted to an Eligible Director shall be
exercisable as follows with respect to twenty percent (20%) of the Common Stock
covered thereby during the ten (10) year period commencing one (1) year
following the date of grant; with respect to an additional twenty percent (20%)
of the Common Stock covered thereby during the ten (10) year period commencing
two (2) years following the date of grant; with respect to an additional twenty
percent (20%) of the Common Stock covered thereby during the ten (10) year
period commencing three (3) years following the date of grant; with respect to
an additional twenty percent (20%) of the Common Stock covered thereby during
the ten (10) year period commencing four (4) years following the date of grant;
and with respect to the remaining twenty percent (20%) of the Common Stock
covered thereby during the ten (10) year period commencing five (5) years
following the date of grant. The foregoing formula can only be amended to the
extent permitted by Rule 16b-3, as amended, under the Exchange Act and may not
be amended more than once every six months other than to comport with changes in
the Code, ERISA, or the rules thereunder."

         IN WITNESS WHEREOF, this Third Amendment has been executed by
SpeedFam-IPEC, Inc. on this 13th day of October, 2000.

                                         SPEEDFAM-IPEC, INC.

                                     By: /s/ J. Michael Dodson
                                        ---------------------------------------
                                         J. Michael Dodson
                                         Secretary and Chief Financial Officer
                                         (Principal Financial Officer)

                                     By: /s/ G. Michael Latta
                                        ---------------------------------------
                                         G. Michael Latta
                                         Corporate Controller
                                         (Principal Accounting Officer)

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