Document:

Exhibit 10.257

                      ASSET AND WARRANT PURCHASE AGREEMENT

THIS  ASEET AND WARRANT PURCHASE AGREEMENT (the "Agreement") is made and entered
into  this  ___  day  of August, 2002, by and between EASTERN AIR LINES, INC., a
Delaware  corporation  ("Eastern")  and  MEGO  FINANCIAL  CORP.,  a  New  York
                         -------
corporation  ("Mego").
               ----

                                    RECITALS:
                                    ---------

WHEREAS,  Eastern  is  the  owner  of  100%  of  the  common stock of FareQuest;

WHEREAS, Eastern desires to sell, and Mego desires to purchase all of the assets
of  FareQuest  (the "FareQuest Assets"), pursuant to the terms and conditions of
this  Agreement;

WHEREAS, Eastern desires to retain a twenty percent (20%) interest in the future
business  opportunities  of FareQuest, and Mego desires to grant Eastern such an
interest;

WHEREAS, Eastern is the owner of 1,065,000 warrants on a split-adjusted basis in
ARINC  Incorporated,  pursuant  to a Warrant Agreement dated April 13, 1999 (the
"ARINC  Warrant  Agreement");

WHEREAS,  the  warrants  held  by  Eastern  in  ARINC are subject to all rights,
benefits  and  interests granted to Eastern pursuant to that Registration Rights
Agreement  dated April 13, 1999 (the "ARINC Registration Rights Agreement"); and

WHEREAS,  Eastern desires to sell, and Mego desires to purchase one and one-half
percent  (1.5%)  of  Eastern's  interest  in  the  ARINC  Warrants  (the  "ARINC
Warrants"),  pursuant  to  the  terms  and  conditions  of  this  Agreement.

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth  herein,  Eastern  and  Mego  agree  as  follows:

1.     Sale  of  the  FareQuest  Assets  and Warrants.  Subject to the terms and
       -----------------------------------------------
conditions  of  this  Agreement, at the Closing (as defined below), Eastern will
sell, transfer, convey and deliver to Mego, and Mego will purchase from Eastern,
the  FareQuest  Assets  and  the  ARINC  Warrants.

(a)     Such  sale  of  the FareQuest Assets shall include all of the following:

<PAGE>

     i.   All rights to the ATS license dated March 29, 2002 and license
          payments due thereunder (Exhibit 1);

     ii.  All definitive agreements and letters of intent by and between
          FareQuest and travel agents or other travel providers (Exhibit 2);

     iii. The URLs for FareQuest.com, FareQuest.net, FareQuest.biz and
          FareQuest.us (Exhibit 3);

     iv.  All of FareQuest's furniture, fixtures and equipment (Exhibit 4);

     v.   Software, copyrights, trademarks, or any other intellectual property
          (Exhibit 5);

     vi.  Such lease or contractual obligations as Mego determines to assume or
          acquire (Exhibit 6).

(b)     Such  sale  of  the  ARINC  Warrants shall include the sale, conveyance,
transfer  and  delivery  to  Mego of all right, title, interest and ownership of
15,975  ARINC  Warrants.  The  ARINC  Warrants  shall  be  subject  to all terms
conditions  and  restrictions set forth in the ARINC Warrant Agreement, which is
attached hereto as Exhibit 7, and the ARINC Registration Rights Agreement, which
is  attached  hereto  as  Exhibit 8, the terms of which are incorporated by
reference  herein.  Specifically,  Mego  agrees  to accept the assignment of the
ARINC  Warrants  and  agrees  to  be bound by Eastern's benefits and obligations
under the ARINC Warrant Agreement pursuant to Section 12(h) thereof as reflected
in the attached Exhibit 9.  In addition, Mego agrees to accept the assignment of
all  rights, benefits and obligations of the ARINC Registration Rights Agreement
and  shall  become a party to such Agreement pursuant to Section 3.6(c) thereof,
as  reflected  in  the  attached  Exhibit  9.

2.     Purchase  Price.  The  purchase  price for the FareQuest Assets and ARINC
       ----------------
Warrants  (the  "Purchase  Price")  shall  consist  of  the  following:

(a)     Mego  Shares.  At the Closing, Mego shall issue to Eastern 41,667 shares
        -------------
of  the  common  stock  of  Mego  (the  "Mego  Shares").  Mego  shall  have  the
obligation,  under  certain  circumstances,  to cause the registration under the
Securities  Act  of  the  shares  received by Eastern, pursuant to the terms and
conditions  of a registration rights agreement in the form of Exhibit 10 to this
Agreement  (the  "EAL  Registration  Rights  Agreement"),  for  the  stock to be
registered  on  or  before  December  31,  2002.

(b)     Carried  Interest.  Mego  agrees to grant Eastern a twenty percent (20%)
        ------------------
carried  interest  in  the  results  of  FareQuest's  operations  and/or  the
consummation  of  any subsequent disposition of the FareQuest business or assets
to an unrelated third party (the "Carried Interest").  The Carried Interest will
be  represented  by a warrant exercisable immediately by Eastern for 20% of
the  Mego-FareQuest shares (the "Mego-FareQuest Warrant"), in the form set forth
in  the  attached  Exhibit  11.  The  Carried  Interest  and  representative
Mego-FareQuest  Warrant  may  be  adjusted  in  the  following  circumstances:

     i.   The Carried Interest will be reduced to seventeen percent (17%) in the
          event that Mego expends $400,000 or more to complete the technology
          development of FareQuest.

<PAGE>

     ii.  The Carried Interest will be further reduced to fifteen percent (15%)
          in the event that Mego expends $800,000 or more to complete the
          technology development of FareQuest.

3.     Repurchase  of  Carried  Interest.
       ----------------------------------

(a)     Mego  may  acquire the Carried Interest at any time during the 24 months
immediately following the sixth month after the Closing, at the then fair market
value,  as  determined  by  a  mutually agreed third party appraiser, or as
otherwise determined to the satisfaction of both parties.  The fair market value
may  be  satisfied  through  delivery  of  an equivalent value in number of Mego
common  stock,  as determined based upon the 10 day average of Mego common stock
during  the  10 days prior to the notice of Mego's intent to acquire the carried
interest  (the  "Carried  Interest  Repurchase  Shares").

(b)     In  the event Mego elects to acquire the Carried Interest utilizing Mego
common  equity, Mego shall register such shares within ninety (90) days from the
date  of  the election.  The Carried Interest Repurchase Shares shall be subject
to the same Registration Rights Agreement governing the Mego Shares and appended
hereto  as  Exhibit  9.

4.     Eastern  Put  Option.
       ---------------------

(a)     Eastern  may  require  Mego  to acquire the Carried Interest at any time
after  six  months  from  the Closing of the Agreement, for an exercise price of
$200,000  (the  "Put  Option").  Eastern  shall  receive  Mego common stock, the
number  of  shares  of which is based upon the 10 day moving average stock price
for the 10 days immediately preceding Eastern's notice of intent to exercise the
Put  Option  (the  "Put  Option Shares").  Alternatively, Mego may elect to
satisfy  the  Put  Option by surrendering its ARINC Warrant Interest to Eastern,
unless  the  Warrant  has  been previously exercised, in place of the Put Option
Shares.

(b)     In the event Mego elects to satisfy the Put Option utilizing Mego common
equity,  Mego  shall  register such shares within ninety (90) days from the
date  of  the  election.  The  Put  Option  Shares  shall be subject to the same
Registration  Rights  Agreement governing the Mego Shares and appended hereto as
Exhibit  9.

5.     Closing.  The  closing of the transactions contemplated by this Agreement
       --------
(the  "Closing")  will  occur  at  the offices of Eastern in Miami on August __,
       -------
2002,  or  such  other time, place and date which are mutually acceptable to the
parties  (the "Closing Date").  At the Closing, Eastern will deliver to Mego the
               ------------
FareQuest  Assets  as  well as all financial books and records of FareQuest, and
Mego  shall  execute and deliver to Eastern the certificates evidencing the Mego
Shares  and  the  Mego  Registration  Rights  Agreement.

6.     Representations,  Warranties  and  Covenants  of  Eastern.  Eastern
       ----------------------------------------------------------
represents,  warrants  and  covenants  to  Mego  as  follows:

<PAGE>

(a)     Corporate  Organization.  Eastern  is  a  corporation  duly  organized,
        ------------------------
validly  existing  and in good standing under the laws of the State of Delaware,
with  the  corporate  power to own its properties and to conduct its business as
presently  conducted.

(b)     Authorization.  Eastern  has  full  legal  right, power and authority to
        --------------
enter  into and perform this Agreement, and the execution and delivery hereof by
Eastern  and  the consummation of the transactions contemplated hereby have been
duly  authorized by all required corporate action of Eastern. This Agreement has
been  duly  executed  and delivered on behalf of Eastern and constitutes a valid
and binding agreement of Eastern, enforceable against Eastern in accordance with
     its  terms,  subject  to  applicable  bankruptcy, insolvency and other laws
affecting  the  enforceability  of  creditors  rights  generally.

(c)     Approvals.  No  governmental  or  other  authorization, approval, order,
        ----------
license,  permit, franchise or consent, and no registration, declaration, notice
or  filing  by Eastern with any governmental authority (including the bankruptcy
court  with  jurisdiction  over the estate of Eastern) is required in connection
with  the  execution,  delivery  and  performance  of this Agreement by Eastern.

(d)     Absence  of  Conflicting  Agreements,  Etc.  Neither  the  execution and
        -------------------------------------------
delivery  of  this  Agreement,  nor  the  consummation  of  the  transactions
contemplated  hereby,  will  conflict  with  or result in a breach of any of the
terms,  conditions  or provisions of the Certificate of Incorporation or By-laws
of  Eastern or of any agreement or instrument to, which Eastern is a party or by
which Eastern or any of its property is bound, or constitute a default under any
of  the foregoing, or violate any law, rule, regulation, judgment or decree
by  which  Eastern  or  any  of  its  property  is  bound.

(e)     Ownership  of  Assets.  Eastern  is  the  sole  and  exclusive legal and
        ----------------------
equitable  owner  of  and  has  good  and marketable title to the ARINC Warrants
described in Exhibit 7 to this Agreement and such Warrants are free and clear of
all  encumbrances  unless otherwise indicated herein.   No Person or Entity
has  an  option  to purchase, right of first refusal or other similar right with
respect  to  all  or  any  part  of  the  ARINC  Warrants.

(f)     Litigation.  There  is  no  action,  suit,  proceeding  or investigation
        -----------
pending  or,  to  the  knowledge of Eastern currently threatened against Eastern
that  questions  the  validity  of  this  Agreement  or  any  other  agreement
contemplated  by  this  Agreement,  or  the  right of Eastern to enter into such
agreements  or  to  consummate  the  transactions  contemplated  hereby.

(g)     Audit.  The  FareQuest  operating results for 2001 were subject to audit
        ------
as  part  of  the audit of Eastern's consolidated 2001 operating results, and to
the  best of Eastern's knowledge the audit determined that FareQuest's operating
results  were  fairly  stated  in  all  material  respects.

7.     Representations,  Warranties  and  Covenants  of  FareQuest.  FareQuest
       ------------------------------------------------------------
represents,  warrants  and  covenants  to  Mego  as  follows:

<PAGE>

(a)     Corporate  Organization.  FareQuest  is  a  corporation  duly organized,
        ------------------------
validly  existing  and in good standing under the laws of the State of Delaware,
with  the  corporate  power to own its properties and to conduct its business as
presently  conducted.

(b)     Authorization.  FareQuest  has  full legal right, power and authority to
        --------------
enter  into and perform this Agreement, and the execution and delivery hereof by
FareQuest and the consummation of the transactions contemplated hereby have been
duly  authorized  by  all  required  corporate  action  of  FareQuest. This
Agreement  has  been  duly  executed  and  delivered  on behalf of FareQuest and
constitutes  a  valid  and  binding  agreement of FareQuest, enforceable against
FareQuest  in  accordance  with  its  terms,  subject  to applicable bankruptcy,
insolvency  and  other  laws  affecting  the  enforceability of creditors rights
generally.

(c)     Approvals.  No  governmental  or  other  authorization, approval, order,
        ----------
license,  permit, franchise or consent, and no registration, declaration, notice
or filing by FareQuest with any governmental authority is required in connection
with  the  execution,  delivery  and  performance  of  this  Agreement  by
FareQuest.

(d)     Absence  of  Conflicting  Agreements,  Etc.  Neither  the  execution and
        -------------------------------------------
delivery  of  this  Agreement,  nor  the  consummation  of  the  transactions
contemplated  hereby,  will  conflict  with  or result in a breach of any of the
terms,  conditions  or provisions of the Certificate of Incorporation or By-laws
of FareQuest or of any agreement or instrument to, which FareQuest is a party or
     by which FareQuest or any of its property is bound, or constitute a default
under  any  of  the foregoing, or violate any law, rule, regulation, judgment or
decree  by  which  FareQuest  or  any  of  its  property  is  bound.

(e)     Ownership  of  Assets.  FareQuest  is  the  sole and exclusive legal and
        ----------------------
equitable  owner of and has good and marketable title to the assets described in
Section  1(a)  and Exhibits 1-6 to this Agreement and such Warrants are free and
clear  of  all  encumbrances  unless  otherwise indicated herein.   No Person or
Entity  has an option to purchase, right of first refusal or other similar right
with  respect  to  all or any part of the FareQuest Assets.  All of the personal
property  of  FareQuest used in the operation of its business is in good working
order  and repair, ordinary wear and tear excepted, and is suitable and adequate
for  the  uses  for  which  it  is  intended  or  is  being  used.

(f)     Litigation.  There  is  no  action,  suit,  proceeding  or investigation
        -----------
pending or, to the knowledge of FareQuest currently threatened against FareQuest
that  questions  the  validity  of  this  Agreement  or any other agreement
contemplated  by  this  Agreement,  or the right of FareQuest to enter into such
agreements  or  to  consummate  the  transactions  contemplated  hereby.

(g)     Audit.  The  FareQuest  operating results for 2001 were subject to audit
        ------
as  part  of  the audit of Eastern's consolidated 2001 operating results, and to
the  best  of  FareQuest's  knowledge  the  audit  determined  that  FareQuest's
operating  results  were  fairly  stated  in  all  material  respects.

<PAGE>

8.     Representations,  Warranties  and  Covenants  of  Mego.  Mego represents,
       -------------------------------------------------------
warrants  and  covenants  to  Eastern  as  follows:

(a)     Corporate  Organization.  Mego  is a corporation duly organized, validly
        ------------------------
existing  and in good standing under the laws of the State of New York, with the
corporate  power  to own its properties and to conduct its business as presently
conducted.

(b)     Authorization.  Mego  has full legal right, power and authority to enter
        --------------
into  and  perform  this  Agreement  and  each of the Exhibits to this Agreement
(collectively,  the  "Transaction  Documents"),  and  the execution and delivery
                      ----------------------
thereof  by  Mego  and the consummation of the transactions contemplated thereby
have  been  duly  authorized  by  all  required  corporate action of Mego.  This
Agreement  has  been duly executed on behalf of Mego and constitutes a valid and
binding  agreement  of  Mego,  enforceable  against  Mego in accordance with its
terms,  subject to applicable bankruptcy insolvency and other laws affecting the
enforceability  of  creditors  rights  generally.

(c)     Approvals.  No  governmental  or  other  authorization, approval, order,
        ----------
license,  permit, franchise or consent, and no registration, declaration, notice
of filing by Mego with any governmental authority is required in connection with
the  execution,  delivery  and  performance of this Agreement and the other
Transaction  Documents  (except  as  specified  in  the  Registration  Rights
Agreement).

(d)     Absence  of  Conflicting  Agreements,  Etc.  Neither  the  execution and
        -------------------------------------------
delivery  of  this  Agreement  and  the  other  Transaction  Documents,  nor the
consummation  of the transactions contemplated hereby and thereby, will conflict
with  or result in a breach of any of the terms, conditions or provisions of the
Certificate  of  Incorporation  or  By-laws  of  Mego  or  of  any  agreement or
instrument  to  which Mego is a party or by which Mego or any of its property is
bound,  or  constitute a default under any of the foregoing, or violate any law,
rule,  regulation,  judgment  of  decree by which Mego or any of its property is
bound.

(e)     Litigation.  There  is  no  action,  suit,  proceeding  or investigation
        -----------
pending  or  to  the  knowledge  of Mego, currently threatened against Mego that
questions the validity of this Agreement or any other agreements contemplated by
this  Agreement,  or  the right of Mego to enter into such agreements or to
consummate  the  transactions  contemplated  hereby  or  thereby.

9.     Conditions  to  Closing.
       ------------------------

(a)     The  obligation  of  Mego to consummate the transactions contemplated by
this  Agreement is subject to the fulfillment and satisfaction of each and every
one of the following conditions on or prior to the Closing, any or all which may
be  waived  in  whole  or  in  part  by  Mego:

(1)     The  representations  and  warranties  of  both  Eastern  and  FareQuest
contained  in  this Agreement shall be true and correct in all material respects
as  of  the date when made and shall be deemed to be made again at and as of the
Closing  Date and shall be true at and as of such time in all material respects.

<PAGE>

(2)     Eastern and FareQuest shall have performed and complied, in all material
 respects,  with all agreements and conditions required by this Agreement to
be  performed  and  complied  with  by  it  prior  to  or  on  the Closing Date.

(3)     Eastern  and  FareQuest  shall  have  delivered  the  FareQuest  Assets.

(4)     Eastern  shall  have  delivered documents evidencing the ARINC Warrants.

     (b)  The  obligation of Eastern to consummate the transactions contemplated
by  this  Agreement  are subject to the fulfillment and satisfaction of each and
every  one of the following conditions on or prior to the Closing, any or all of
which  may  be  waived,  in  whole  or  in  part,  by  Eastern:

(1)     The  representations  and warranties of Mego contained in this Agreement
shall be true and correct in all material respects when made and shall be deemed
     to  be made again at and as of the Closing Date and shall be true at and as
of  such  time  in  all  material  respects.

(2)     Mego  shall  have  performed  and  complied  with  all  agreements  and
conditions  required  by this Agreement to be performed or complied with by Mego
prior  to  or  on  the  Closing  Date.

(3)     Mego shall have executed and delivered the stock certificates evidencing
     the  Mego  Shares,  the  EAL  Registration  Rights  Agreement  and  the
Mego-FareQuest  Warrants.

10.     Termination.
        ------------

(a)     This Agreement may be terminated at any time on or prior to the Closing:

(1)     by  mutual  consent  of  Eastern  and  Mego;  or

(2)     at  the  election  of Mego if:  (aa) Eastern or FareQuest has materially
breached  or  failed  to  perform  or  comply  with  any of its representations,
warranties,  covenants  or  obligations under this Agreement, or (bb) any of the
conditions  set  forth  in Section 9(a) is not satisfied as and when required by
this  Agreement.

(3)     at  the  election  of  Eastern,  if (aa) Mego has materially breached or
failed  to  perform  or  comply  with  any  of  its representations, warranties,
covenants and obligations under this Agreement or (bb) any of the conditions and
proceedings set forth in Section 9(b) is not satisfied as and when required
by  this  Agreement.  or  (cc) if the Closing has not been consummated by August
___,  2002.

<PAGE>

(b)     Written  notice  of any termination pursuant to this Section 10 shall be
given by the party electing termination of this Agreement to the other party and
such  notice  shall  state  the  reason  for  the  termination.  Upon  the
termination  of  this  Agreement  prior  to  the  consummation of the Closing in
accordance  with the terms hereof, this Agreement shall become null and void and
have  no  effect,  and none of the parties shall have any liability to the other
except  that:

          (1)  if  Eastern refuses to close, or otherwise intentionally breaches
     any  of  its representations, warranties and covenants hereunder, then Mego
     shall  have  the  right to pursue any and all remedies available at law and
     equity,  including  the  remedy  of  specific  performance;  and

          (2)  if Mego refuses to close, or otherwise intentionally breaches any
     of  its representations, warranties or covenants under this Agreement, then
     Eastern  shall  have  the right to pursue any and all remedies available at
     law  and  equity,  including  the  remedy  of  specific  performance.

11.     Break-Up  fee.  If  this  agreement  shall  be Terminated due to another
        --------------
offer  received  by  Eastern  under  which  Eastern  shall receive consideration
greater than the Purchase Price, upon subsequent execution of the agreement made
by  the competing purchaser, Eastern shall become obligated to pay Mego the
sum  of  $50,000  in immediately available funds.  Such payment shall be made no
later than three days after such transaction's consummation, in consideration of
the  time  and  expense  incurred  by  Mego  in  association  with this proposed
transaction.

12.     Miscellaneous.
        --------------

(a)     Expenses.  Each  of  the parties hereto shall bear and pay all costs and
        ---------
expenses  incurred  by  it  or on its behalf in connection with the transactions
contemplated  hereunder,  including  fees  and  expenses  of  its  own financial
consultants,  investment  bankers,  accountants  and  counsel.

(b)     Waiver  and Amendment.  Any provision of this Agreement may be waived at
        ----------------------
any  time by the party that is entitled to the benefits of such provision.  This
Agreement  may not be modified, amended, altered or supplemented except upon the
execution  and  delivery  of a written agreement executed by the parties hereto.

(c)     Entire  Agreement: Severability.  This Agreement and the exhibits hereto
        --------------------------------
constitute  the  entire  agreement  and  supersede  all  prior  agreements  and
understandings,  both  written and oral, between the parties with respect to the
subject  matter hereof.  If any term, provision, covenant or restriction of this
Agreement  is  held  by  a court of competent jurisdiction or a federal or state
regulatory  agency  to  be  invalid, void or unenforceable, the remainder of the
terms,  provisions, covenants and restrictions of this Agreement shall remain in
full  force and effect and shall in no way be affected, impaired or invalidated.

<PAGE>

(d)     Governing  Law.  This  Agreement  shall  be  governed  and  construed in
        ---------------
accordance  with  the  laws  of  the  State  of  New  York without regard to any
applicable  conflicts  of  law  rules.

(e)     Descriptive Headings.  The descriptive headings contained herein are for
        ---------------------
     convenience  of  reference only and shall not affect in any way the meaning
or  interpretation  of  this  Agreement.

(f)     Notices.  All  notices  and  other  communications hereunder shall be in
        --------
writing  and  shall  be  deemed  given if delivered personally, telecopied (with
confirmation)  or  mailed  by  registered  or  certified  mall  (return  receipt
requested)  to  the parties at the following addresses (or at such other address
for  a  party  as  shall  be  specified  by  like  notice):

If  to  Mego  to:
-----------------
Mego  Financial  Corp.
4310  Paradise  Road
Las  Vegas,  Nevada  89109
Attn:  Edward  J.  Wegel
Facsimile:  (702)  369-4398

With  a  copy  to:
------------------
Jon  A.  Joseph
3960  Howard  Hughes  Center
Suite  850
Las  Vegas,  NV  89109

If  to  Eastern  to:
--------------------
1221  Brickell  Avenue
Suite  1780
Miami,  Florida  33131
Attn:  John  Sicilian,  Esq.
Facsimile:  (305)  536-2243

With  a  copy  to:
------------------
1221  Brickell  Avenue
Suite  1780
Miami,  Florida  33131
Attn:  Ronald  T.  Bevans  Jr.,  Esq.
Facsimile:  (305)  536-1018

(g)     Counterparts.  This  Agreement and any amendments hereto may be executed
        -------------
in  counterparts,  each  of which shall be considered one and the same agreement
and  shall  become  effective when both counterparts have been signed by each of
the  parties  and  delivered  to  the other party, it being understood that both
parties  need  not  sign  the  same  counterpart.

<PAGE>

(h)     Further  Assurances.  The  parties  shall  execute and deliver all other
        --------------------
documents  and  instruments  and  take  all  other action that may be reasonably
necessary  in  order  to  consummate  the  transactions  contemplated  by  this
Agreement.

(i)     Specific  Performance.  The parties hereto agree that this Agreement may
        ----------------------
be  enforced by either party through specific performance, injunctive relief and
other  equitable relief. Both parties further agree to waive any requirement for
the securing or posting of any bond in connection with the obtaining of any such
equitable  relief and that this provision is without prejudice to any other
rights  that  the  parties  hereto  may  have  for  any  failure to perform this
Agreement.

(j)     Successors  and Assigns.  This Agreement shall be binding upon and shall
        ------------------------
inure  to  the  benefit  of and be enforceable by and against the successors and
assigns  of  the  parties  hereto.

(k)     Survival  of  Representations,  Warranties  and  Agreements.  All
        ------------------------------------------------------------
representations,  warranties, covenants and agreements made herein shall survive
the  Closing.

(l)     Brokers  and Finders.  Neither Mego nor Eastern has engaged or otherwise
        ---------------------
dealt  with  any person or entity in any manner which might give rise to a claim
against the other party hereto for any commission, fee or payment of any kind to
any broker, finder or other agent and each party hereto shall indemnify the
other  against  any  such  claim  or  expense  associated  therewith,  including
attorneys'  fees.

(m)     Public Announcements.  Other than as may be required by law, no party to
        ---------------------
this  Agreement  will make any public announcements regarding the execution
of  this  Agreement or its terms without the prior written approval of the other
party.

     IN  WITNESS WHEREOF, Eastern and Mego have caused this Agreement to be duly
executed  as  of  the  day  and  year  first  above  written.

                                   EASTERN  AIR  LINES,  INC.

                         By: _________________________________

                         Name: _______________________________

                         Its: ________________________________

<PAGE>

                                   FAREQUEST,  INC.

                         By: _________________________________

                         Name: _______________________________

                         Its: ________________________________

                                MEGO  FINANCIAL  CORP.

                         By: _________________________________

                         Name: _______________________________

                         Its: ________________________________

<PAGE>Exhibit 10.258

                                 SALE AGREEMENT

     BY  THIS AGREEMENT made this 18th day of April, 2002, MEGO FINANCIAL CORP.,
a  New  York  corporation  ("MEGO") having an address of 4310 Paradise Road, Las
Vegas,  Nevada  89409,  SUSAN  R.  MARDIAN and LORI A. MARDIAN (the "Mardians"),
having  an  address  of 4132 S. Rainbow Blvd., PMB 324, Las Vegas, Nevada 89103,
ATLANTIC DEVELOPMENT CORPORATION, a Nevada corporation ("AD"), having an address
of  4132 S. Rainbow Blvd., PMB 324, Las Vegas, Nevada  89103, state, confirm and
agree  as  follows:

1.  Recitals.
       --------

     1.1  Purchase  of  One  Acre  Lots.
          -----------------------------

          1.1.1 The Mardians are the sole shareholders of AD.

          1.1.2 AD owns, as its sole assets, 1,510 duly platted, one acre,
approximate,  lots  known  as Units 5, 6 and 7 of Lake Mead Ranchos and 509 duly
platted  one  acre,  approximate,  lots known as Sunny Lake Ranchos Unit 1, each
more  particularly  described  on Exhibit "A" attached hereto (collectively, the
"One  Acre  Lots").

          1.1.3  The  One Acre Lots in Unit 6 of Lake Mead Ranchos and the Sunny
Lake Ranchos Unit 1 One Acre Lots do not have permanent, insurable, legal access
("Access")  as  required  by  the Arizona Department of Real Estate ("ADRE") for
registration  thereof and the issuance of a Public Report necessary for the sale
thereof  to  the general public pursuant to, and in compliance with local, state
and  federal  law  including  the  Interstate  Land Sales Full Disclosure Act (a
"Public Report"). For the purposes hereof, the term "Public Report" shall mean a
Public  Report  in  form  and content satisfactory to MEGO, in MEGO's reasonable
discretion.

          1.1.4  Lake  Mead  Ranchos  Units  5 and 7 have Access and AD, through
Preferred  Equities Corporation, a Nevada corporation ("PEC"), is in the process
of  registering  these  One  Acre  Lots  and  securing  Public  Reports.

1.1.5     The  Mardians  are  in  the  process of obtaining Access for Lake Mead
Ranchos  Unit  6 One Acre Lots and the Sunny Lakes Ranchos Unit 1 One Acre Lots.
Upon  obtaining  Access,  MEGO  will apply for  Public Reports for such One Acre
Lots.

1.1.6     MEGO desires to acquire the One Acre Lots by acquisition of all issued
and  outstanding  stock of AD ("AD Stock") on the terms and conditions set forth
herein.

     2.  Purchase  of  AD  Stock.
         -----------------------

          2.1  On and subject to the terms and conditions set forth herein, MEGO
agrees  to  acquire,  through  an  exchange  of  stock pursuant to the terms and
conditions  of this Agreement and Mardians agree to sell, through an exchange of
stock  pursuant  to  the terms and conditions of this Agreement all right, title
and  interest  in  the  One  Acre  Lots.
                                        1
<PAGE>

          2.2  The  purchase price for the AD Stock shall be paid by delivery to
the  Shareholders of shares of MEGO Stock ("MEGO Stock") at a value of $6.00 per
share  as follows :

               (i) For those One Acre Lots in Lake Mead Ranchos Units 5 and 7
which  currently have Access, a total of 169,800 shares of MEGO Stock restricted
as  set  forth  below.

               (ii)  For  the One Acre Lots in Lake Mead Rancho Unit 6 and Sunny
Lake  Ranchos  Unit 1, a total of 370,616 shares of Mego Stock restricted as set
forth  below.

     If,  however,  shares of MEGO Stock are not traded at $6.00 or more for ten
(10)  consecutive  days  during  which the MEGO Stock is traded within 24 months
after  the  Stock Closing, MEGO will issue additional MEGO Stock to the Mardians
in  an  amount  determined  by  the  market  value of MEGO's common stock at the
closing  of  NASDAQ  trading  on the day prior to the Stock Closing divided into
$3,242,496  minus  540,416.

          2.3  (a)  The MEGO Stock issued pursuant to Section 2.2(i) above shall
be  subject  to  the  following  restrictions:

               THE  SHARES  REPRESENTED BY THIS CERTIFICATE ARE RESTRICTED UNDER
               THE  SECURITIES ACT OF 1933, AS AMENDED, ( THE "ACT") AND MAY NOT
               BE  OFFERED,  SOLD  OR  OTHERWISE  DISPOSED  OF  UNLESS AND UNTIL
               REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS
               OR  UNLESS  THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL TO THE
               HOLDER  OF THESE SHARES IN FORM AND SUBSTANCE SATISFACTORY TO THE
               ISSUER,  THAT  SUCH OFFER, SALE, TRANSFER OR OTHER DISPOSITION IS
               EXEMPT  FROM  REGISTRATION OR IS OTHERWISE IN COMPLIANCE WITH THE
               ACT  AND  SUCH  LAWS.

               (b) The Mego Stock issued pursuant to Section 2.2(ii) above shall
be restricted as shown in Section 2.3(a) above and as follows:

               THE  SHARES  REPRESENTED  BY  THIS  CERTIFICATE  ARE  RESTRICTED
               PURSUANT  TO  THE  TERMS  AND  CONDITIONS  OF  THAT  CERTAIN SALE
               AGREEMENT  DATED  April  18, 2002. A COPY OF THE AGREEMENT MAY BE
               OBTAINED  FROM  THE  SECRETARY  OF  THE  ISSUER.

               The foregoing legend in this Section 2.3(b) shall be removed from
time to time when the Mardians have provided Access to one or more One Acre Lots
in  Lake  Mead  Ranchos  Unit  6  and  Sunny  Lake  Ranchos  Unit 1 over a route
satisfactory  to  MEGO.  For  each One Acre Lot in Ranchos Unit 6 and Sunny Lake
Ranchos  Unit  1 for which Access is obtained, 411 shares of Mego Stock shall be
released  from the restriction set forth in this Section 2.3(b) with the balance
                                        2
<PAGE>

of  the shares to be released from said restriction as such time as all One Acre
Lots  have  Access.

               Mardians  shall obtain such Access not later than 18 months after
the  Stock  Closing. In the event said Access is not obtained for some or all of
the  One  Acre  Lots  within  this  period,  Mardians  shall reconvey all shares
restricted as set forth in this Section 2.3(b) to Mego and Mego shall convey all
One  Acre  Lots  without  Access  to  the  Mardians  or  their  assigns.

          2.4  MEGO  shall  use  reasonably  diligent  efforts  to  register the
shares  of  MEGO  Stock  issued  pursuant  hereto  with  the Securities Exchange
Commission  within  120  days after the Stock Closing. Registration will be done
under  THE  ACT  in accordance with federal and applicable state law. MEGO shall
indemnify  and  hold the Mardians harmless against any claim or loss suffered or
incurred  by  the  Mardians  as  a  result of MEGO's errors or omissions in such
registration.  The  registration  shall  be  completed  at  MEGO's sole cost and
expense.  The  registration  shall be kept current by MEGO until all of the MEGO
Stock  is sold or otherwise transferred by the Mardians in conformance with this
Agreement.

          2.5  The  consummation  of  the  purchase  of  the  AD  Stock  as
contemplated herein (the "Stock Closing"), shall occur on or before May 1, 2002,
provided,  however, if the Public Reports have not been issued for the Lake Mead
Ranchos  Units  5  and  7  One  Acre Lots by such date, the Stock Closing may be
extended by MEGO from day to day, at MEGO's option, until the Public Reports are
issued.

          2.6  MEGO  shall be deemed to have extended the Stock Closing each day
unless  MEGO  gives  the Mardians written notice of termination hereof, in which
event  the  parties  shall  be  under  no further obligation to each other. This
Agreement shall expire automatically if the Public Reports for Lake Mead Ranchos
Units 5 and 7 are not issued to MEGO's reasonable satisfaction on or before July
15,  2002,  and  the  parties  shall  have no further obligations or liabilities
hereunder.

          2.7 At the Stock Closing, the certificates represented by the AD Stock
shall  be  endorsed  in  blank,  or accompanied by stock powers duly executed in
blank  by the Mardians transferring all of the AD Stock owned by the Mardians to
MEGO  or  its  assigns.  At  the  Stock  Closing, Mardians shall deliver to MEGO
originals of the Articles of Incorporation, Bylaws, Minute Books, Stock Records,
and  all  other  documents  pertaining  to  AD.

          2.8  At the Stock Closing, Mardians shall deliver to MEGO, at Mardians
cost,  an  extended  coverage  title  insurance policy issued by a title company
satisfactory  to  MEGO  in  the  amount of $3,242,496 insuring that AD holds fee
title  to  the  One Acre Lots free and clear of all matters except those matters
set  forth  on  Exhibit  "B"  (the  "Permitted Exceptions") and permanent, legal
access  over  a  route  satisfactory  to  MEGO.

          2.9 Mardians shall not sell any shares of the MEGO Stock without first
offering  such  shares  to MEGO at the then public market price of the stock and
the  failure of MEGO to accept such offer at the then public market price of the
                                        3
<PAGE>

MEGO  shares,  in  writing  within  10 days thereafter.  Mardians may gift up to
100,000  shares  of  the  MEGO  Stock  without  first  offering same to MEGO for
acquisition,  subject to all donees accepting the MEGO stock as then restricted.

          2.10  MEGO  acknowledges  that the One Acre Lots are subject to a lien
("Lien")  pursuant  to  which the One Acre Lots may be released for $200,000. At
the  Stock  Closing,  MEGO  shall  pay  to  Mardians $200,000 and simultaneously
therewith  Mardians shall cause the One Acre Lots to be released from such lien.

3.   Access.

     3.1  Mardians  shall  use their best efforts to obtain Access for those One
Acre  Lots without required Access, as soon as possible after the Stock Closing.
Access  shall be obtained at the Mardians sole cost and expense. All information
and  filings  submitted  by  Mardians  in  connection  therewith  shall be true,
complete  and  in  compliance  with applicable law and regulatory procedures and
policies  sufficient  to  obtain  a  Public  Report.

4.   INTENTIONALY  OMITTED.
     ----------------------

5.   Representations  and  Warranties.
     --------------------------------

     AD and the Mardians, jointly and severally, represent and warrant as of the
date  hereof  and  as  of  Stock  Closing,  as  follows:

          5.1  This  Agreement  is valid and binding against the Mardians and AD
and  neither  the  execution nor delivery of this Agreement by such parties will
constitute  a material default under any contract, decree or obligation to which
any  of  them  is  bound.  This  Agreement  is enforceable severally against the
Mardians  and  AD  in  accordance  with  its  terms.

          5.2  AD is a corporation duly organized and existing, in good standing
under  the  applicable laws of the state of formation. AD has the full corporate
power  and  authority  to  carry on its business as now conducted and to own and
operate  the  properties  and  assets  now  owned  or  leased  by it. AD is duly
qualified  to  transact  business in those states where in which the business or
ownership  of  property  makes  it  necessary  so  to  qualify.

          5.3  Each of the Mardians has the full right and title to the AD Stock
to  be  sold pursuant hereto and the AD Stock constitutes all the AD Stock which
each of the Mardians own. Each of the Mardians holds its AD Stock free and clear
of  all  liens, encumbrances, restrictions and claims of every kind. Each of the
Mardians  has  the legal right, power and authority to enter into this Agreement
and  to sell, assign, transfer and convey the AD Stock owned by her and to sell,
assign,  transfer and convey the AD Stock by her and the delivery to MEGO of the
AD  Stock  pursuant  hereto  will transfer to MEGO valid title thereto, free and
clear  of  all liens, encumbrances, restrictions and claims of every kind. There
are  no  outstanding  options,  warrants, rights, calls, commitments, conversion
rights, rights of exchange, plans or other agreements of any character providing
for  the  purchase  and  sale  of  any  AD  Stock  by  any  of the Shareholders.

          5.4  The  AD Stock transferred pursuant hereto to MEGO constitutes the
only  outstanding shares of the stock of AD of any nature whatsoever, voting and
non-voting. The AD Stock is fully paid and assessable and validly issued. All AD
                                        4
<PAGE>

Stock  is  certificated  and  AD  has executed and delivered no certificates for
shares  in  excess  of  the  number  of  shares of AD Stock transferred pursuant
hereto.  There  are  no  treasury  shares.

          5.5  The  execution,  delivery and performance of this Agreement by AD
has  been  duly  authorized  by  the  Board of Directors and all other corporate
approvals  have  been  obtained.  The execution, delivery and performance by the
Mardians  and  AD  will  not  result  in  the violation or breach of any term or
provisions  of  charter instruments or constitute a default under any indenture,
mortgage,  deed  of trust or other contract and will not cause the creation of a
lien  or  encumbrance  on  any  properties  owned  by  or  leased  to  or by AD.

          5.6  AD  has  no  liabilities  or  obligations  of any nature (whether
accrued,  contingent  or  otherwise).

          5.7 The only assets of AD are the One Acre Lots and such lots are free
and  clear  of  all  matters  except  the  Lien  and  Permitted Exceptions.

          5.8  In all material respects, financial statements, if any, submitted
to  MEGO  are  true,  complete and correct and fairly and accurately present the
financial  condition  of  AD.

          5.9  AD  (and  any  transferee  and  successor)  has  timely filed all
federal,  state,  or  local  tax returns, reports and forms, has followed in the
preparation  of such returns, methods of accounting accepted by law and paid all
taxes  owing  and  there are no deficiencies, fines, penalties or interest owing
thereon.  The  Mardians  have paid or will pay by the date of the Stock Closing,
any  property  taxes or assessments on the One Acre Lots. No examinations, audit
or  inquiry of any tax return, federal, state, local or otherwise is in progress
nor  has  AD  or  the  Mardians  received  any  notice of such inquiry, audit or
examination.  There  are  no  outstanding  agreements  or  waivers extending the
statutory  period  of  limitation  applicable  to  any  tax  return  of  AD.

          5.10  There  are  no  accounts receivable, unbilled invoices and other
debts  due AD.

          5.11  AD is not a party to any agreements, contracts or understandings
oral  or  written.

          5.12  There  are no lawsuits, arbitration actions or other proceedings
(equitable,  legal, administrative or otherwise) pending or threatened and there
are  no  investigations  pending  or  threatened.

          5.13  Except  as  set  forth  below,  AD  and  Mardians owe no fees or
commissions  or  other compensation or payments to any broker, finder, financial
consultant or similar person claiming to have been employed or retained by or on
behalf  of  AD  or  Mardians  in  connection with this Agreement or transactions
completed  hereby.

          5.14  The  Company  has  no  employees  or  former  employees.

          5.15  To  the  best  of  Mardians'  knowledge,  AD  has  conducted and
continues  to  conduct  its business in compliance with all applicable statutes,
orders,  rules and regulations including, without limitation, air, water, toxic,
                                        5
<PAGE>
hazardous or toxic substances, noise or solid gaseous or liquid waste generation
handling storage or transportation and any laws, rules and regulations governing
the  sale  of  property  or  marketing  thereof.

          5.16  AD  has not directly or indirectly engaged in or been a party to
bribes,  kickbacks  or  gratuities  to  secure  favorable  treatment or made any
contribution  to  a  political  party,  candidate of office holder, receiving or
disbursing  monies,  the actual nature of which has been improperly disguised or
intentionally  misrecorded  or  improperly  omitted.

          5.17  AD  has  no  insurance  policies.

          5.18  AD  has  delivered to MEGO true, accurate and complete copies of
the  Articles  of  Incorporation  and  Bylaws of AD together with all amendments
thereto.

          5.19  The  Minute  books  of  AD  provided  to MEGO at Closing are the
correct and only such minute books and do and will contain complete and accurate
records  of  all  proceedings  and  actions  at  all meetings, including written
consent  in  lieu  of meetings. The stock records of AD delivered to MEGO at the
Stock  Closing  are  the  current  and  only  such  stock records and accurately
reflects  all  issues  and  transfers  of  AD.

          5.20  No  consent, approval or authorization of, or notification to or
registration  with any governmental authority is required in connection with the
execution,  delivery  and  performance  of  this  Agreement  by  Mardians or AD.

          5.21  Except  for the issuance of a Public Report, AD has all required
licenses,  certifications,  approvals,  authorizations  and permits necessary to
conduct  its  business  and  has  been  in  full  compliance  therewith.

          5.22  Mardians  represent  and warrant that they are in receipt of and
have  carefully  read  and understand the following offering material ("Offering
Material"):

                    (a)  MEGO's  Annual  Report  on Form 10-K for the year ended
               August  31,  2001;

                    (b)  MEGO's  Quarterly  Report  on Form 10-Q for the quarter
               ending  November  30,  2001;  and

                    (c)  Such  other information as they have requested in order
               to  evaluate  their  investment  in  MEGO.

     5.23  Mardians  acknowledge  that  they  have had the opportunity to obtain
additional  information  beyond  the  Offering  Material  in order to verify the
information  contained  in the Offering Material and to evaluate the risks of an
investment in the MEGO Stock.  With respect to individual or partnership tax and
other  economic  considerations  involved  in  this investment, Mardians are not
relying  on  MEGO  (or  any  agent  or  representative  of  MEGO). Mardians have
carefully  considered  and  have  to the extent Mardians believe such discussion
necessary,  discussed  with  Mardians'  legal,  tax,  accounting  and  financial
advisers  the  suitability  of  an  investment  in  the MEGO Stock for Mardians'
particular  tax  and  financial  information.
                                        6
<PAGE>

     5.24  Mardians  acknowledges  that  they  have  had  the opportunity to ask
questions  of  and  receive  answers  from  qualified  representatives  of  MEGO
concerning  the  terms and conditions of this Agreement and of the MEGO Stock to
be  issued  hereunder,  as  well  as  the  information contained in the Offering
Material, and it has been granted access, prior to subscribing to the MEGO Stock
and  prior  to the purchase thereof, to all books, records and documents of MEGO
and  it  subsidiaries.

     5.25  Mardians  acknowledge  that they are sophisticated investors familiar
with  the  type  of  risks inherent in the acquisition of securities such as the
MEGO  Stock  and  that, by reason of their knowledge and experience in financial
and business matters in general, and investments of this type in particular, and
the  knowledge  and  experience  in  financial  and  business  matters  of their
representatives  and agents, it is capable of evaluating the merits and risks of
an  investment  by  them  in  the  MEGO  Stock.

     5.26  Mardians'  financial condition is such that they are under no present
need,  in  order  to  satisfy  any  existing  or  contemplated  understanding or
indebtedness, to dispose of any portion of the MEGO Stock which it is purchasing
hereunder.  Mardians  are able to bear the economic risk of an investment in the
MEGO  Stock,  including,  without  limiting the generality of the foregoing, the
risk  of losing part or all of its investment in the MEGO Stock and its probable
inability  to  sell or transfer the MEGO Stock for an indefinite period of time.

     5.27  Mardians  are  not  acquiring the MEGO Stock for the purpose of or in
connection  with  any  distribution  within the meaning of the Securities Act of
1933  (the  "Act")  or  other  securities  laws in violation of the Act or other
securities  laws.

     5.28  Mardians  understand  that,  because  the  MEGO  Stock  has  not been
registered  under the Act or other securities laws, the MEGO Stock therefor must
be  held indefinitely unless the MEGO Stock is subsequently registered under the
Act  and  other  securities  laws  or  until an exemption from such registration
thereunder  is  available.

     5.29  Mardians  are aware that any sales which may be made in reliance upon
Rule  144  promulgated  under the Act, may be made only if MEGO is in compliance
with  the  reporting  and  other  requirements  under Rule 144, and then only in
limited amounts, after the required holding periods, and otherwise in accordance
with  the  terms  and  conditions  of  Rule  144.

     5.30  Mardians  acknowledge  that  they  are  each an "accredited investor"
within  the  meaning  of  Rule 501(a) of Regulation D promulgated under the Act.

     5.31  Mardians  recognize  that  investment  in  the  MEGO  Stock  involves
substantial risks.  Mardians further recognize that no federal or state agencies
have  passed  upon  this  offering  of  the  MEGO  Stock or made any findings or
determinations  to  the  fairness  of  this  investment.

     5.32  Mardians  are  not  subscribing  for the MEGO Stock as a result of or
subsequent  to  any  advertisement,  article,  notice  of  other  communication
published  in  any  newspaper,  magazine,  or  similar  media  or broadcast over
television  or  radio  or  presented  at  any  seminar.

     5.33  Mardians  acknowledge  that  MEGO  has  relied on the representations
contained  herein  and  that  the  statutory  basis  for  exemption  from  the
requirements of Section 5 of the Act may not be present if, notwithstanding such
representations,  Mardians  were  acquiring  the  MEGO  Stock  for  resale  or
distribution  upon the occurrence or non-occurrence of some predetermined event.
                                        7
<PAGE>
     5.34  Other  than  as stated in this Agreement, neither Mardians nor any of
their  affiliates  (as  such  term  is  defined  in Rule 12b-2 of the Securities
Exchange Act of 1934 (the "Exchange Act")) ("Affiliates") or representatives are
party  to, or are bound by any contract, agreement, arrangement or understanding
(whether  written or not) with respect to MEGO or any of its subsidiaries or any
securities of MEGO or any of its subsidiaries, including without limitation, any
(i)  contract,  agreement, arrangement or understanding (whether written or not)
which  requires  such  party  to (x) repurchase, redeem or otherwise acquire any
shares  of  capital stock of, or other equity or voting interest in, MEGO or any
of its subsidiaries or (y) vote or dispose of any shares of capital stock of, or
other  equity  or  voting  interest  in  MEGO or any of its subsidiaries or (ii)
irrevocable  proxy,  voting  agreement  or  similar  agreement,  arrangement  or
understanding  (whether  written  nor not) with respect to any shares of capital
stock  of  MEGO  or  any  of  its  subsidiaries.

     5.35  The  execution,  delivery  and  performance  of this Agreement by the
Mardians,  and  the  taking  of  all  action  contemplated  hereby and the other
ancillary agreements contemplated hereby, will not result in any violation of or
conflict  with  or  constitute  a  default  under  any  term  of  any agreement,
instrument,  judgment,  decree,  order, statute, rule or governmental regulation
applicable  to  it  (which  violation or conflict would materially and adversely
affect  the  property, business, operations or financial condition of Mardians),
or  result in the creation of any mortgage, lien, charge or encumbrance upon any
of  the  properties  or  assets  of  Mardians  pursuant  to  any  such  term.

     5.36  To  the  best of the Mardians' knowledge, neither Mardians nor AD has
placed,  stored,  discharged or otherwise released, nor to the best of Mardians'
knowledge, has any other party placed, stored, discharged or otherwise released,
nor  are there present, upon or under the One Acre Lots, any asbestos containing
materials,  asbestos  fibers,  urea  formaldehyde,  VXKV  biphenyls  ("PCBs),
petroleum,  its  derivatives,  by-products  or  other  hydrocarbons, explosives,
radioactive  materials,  hazardous  wastes,  toxic  or  dangerous  materials  or
substances  including  without  limitation,  substances  defined  as  "hazardous
substances,"  "hazardous  wastes,"  "hazardous  materials," toxic substances" or
"solid waste" in any federal state or local statute, law, ordinance, code, rule,
regulation  or  decree,  relating  to imposing liability or standards of conduct
concerning  hazardous,  dangerous  or  toxic  materials  waste  or  substances.

     5.37  Mardians agree that their representations and warranties contained in
this  Agreement shall survive the Stock Closing for the respective periods shown
in  13.17  of  this  Agreement.

6.   Indemnity.
     ---------

     6.1 Each of the Mardians, and Leonard Mardian jointly and severally, hereby
defend,  indemnify and hold MEGO, its directors, officers, employees, agents and
contractors  harmless  from  any  breach  of the representations, warranties and
covenants herein or any other liability, obligation, loss, claim, demand, costs,
                                        8
<PAGE>
expenses  and  fees  (including reasonable attorneys' fees) arising prior to the
Stock Closing and all suits, actions, proceedings, demands, judgments, costs and
expenses  incident  thereto,  including  but not limited to any action or matter
involving  AD, the AD Stock and/or the One Acre Lots. If a claim is made against
MEGO  for  which  it is indemnified, MEGO will (i) notify Mardians; (ii) conduct
its  own  defense;  (iii)  be  reimbursed by the Mardians for all costs and fees
(including attorneys' fees), monthly or upon settlement; and (iv) have the right
to settle the claim with the consent of Mardians not to be unreasonably withheld
or  delayed.

7.   Entry;  Documents.
     -----------------

     7.1  Prior  to  the  Stock  Closing,  MEGO,  its  contractors,  agents  or
representatives  shall  be  entitled to enter the One Acre Lots and conduct such
testing,  investigations,  studies,  and analysis as it deems appropriate.  MEGO
shall  indemnify  and  hold the Mardians harmless for any damage to the One Acre
Lots  or  for any injury suffered by a person lawfully on the One Acre Lots as a
result  of  MEGO's  activities.

     7.2  Mardians  shall  deliver  to MEGO within five (5) days after execution
hereof  copies  of  the Articles of Incorporation, Bylaws, Minute Book of AD and
similar  materials  and  all  reports, studies, analysis, surveys, environmental
audits  and  other  written materials concerning the One Acre Lots and AD in the
possession  of  Mardians,  AD, or any affiliate thereof.  If Mardians, AD or any
affiliates  thereof  come  into  possession  of any additional written materials
thereafter,  they  shall  promptly  deliver  such  materials  to  MEGO.

8.   Representations  and  Warranties  of  MEGO.
     ------------------------------------------

     MEGO  represents  and  warrants  to  the  Mardians  and  AD  that:

     8.1 MEGO is duly organized and existing, in good standing under the laws of
its  state  formation.  MEGO  has full corporate power and authority to carry on
its  business as now conducted.  MEGO is duly qualified to do business in Nevada
and in all states and jurisdictions in which the business or ownership of MEGO's
     properties  or  assets  make  it  necessary  to  qualify.

     8.2  The  execution,  delivery  and performance of this Agreement have been
duly  authorized  by  MEGO's  Board  of  Directors.  This Agreement is valid and
binding  upon MEGO and is enforceable against MEGO in accordance with its terms,
subject  to  bankruptcy,  reorganization,  insolvency,  fraudulent  conveyance,
moratorium, receivership or other similar laws relating to or affecting creditor
rights  generally.

     8.3  Neither  the execution nor delivery of this Agreement by MEGO, nor the
performance  by  MEGO  of any of the covenants or obligations to be performed by
MEGO hereunder, will result in any violation of any order, decree or judgment of
any  court or other governmental body or statute or law applicable to MEGO or of
any  terms  of  the  Articles  of Organization or Bylaws or constitute a default
under  any indenture, mortgage, deed of trust or other contract to which MEGO is
a  party.

     8.4  Except  as set forth herein, no consent, approval or authorization of,
or  notification  to,  or  registration  with any governmental authority, either
federal,  state or local is required in connection with the execution, delivery,
and  performance  of  this  Agreement  by  MEGO.

9
<PAGE>

     8.5 Except as set forth below, MEGO has not entered into any obligations to
pay  any  fee  or  commission  to  any broker, finder or intermediary for, or on
account  of  the  transactions  contemplated  by  this  Agreement.

     8.6  All  fillings  by MEGO with Securities Exchange Commission are current
and will  remain  current.

     8.7  The representations and warranties of MEGO contained in this Agreement
shall  survive  the  Stock Closing for the period of time shown in 13.17 of this
Agreement.

     8.8     MEGO  shall  indemnify  and hold Mardians harmless from and against
any action, damages or injuries incurred by the Mardians and assigns from MEGO's
inaccurate  statements  or  omissions  in a Public Report or registration of the
MEGO  Stock.

     8.9     For  so  long as the Mardians own any of the MEGO Stock, MEGO shall
remain  in  compliance  with  Rule  144  reporting  and  other  requirements.

9.   Operating  Covenants.
     --------------------

     9.1  AD  and  Mardians shall not engage in any activity, including, without
limitation,  the  marketing  of the One Acre Lots, except registering such Lots,
through  PEC,  with  the  appropriate  authorities and obtaining a Public Report
therefor.

10.  Conditions  Precedent  to  Obligations.
     --------------------------------------

     10.1  MEGO  shall  not be obligated to consummate the Stock Closing unless:

          10.1.1  AD  and  Mardians  are  not  in  default  hereunder.

          10.1.2  AD  and  Mardians  deliver  to  MEGO  a  certificate  that all
representations and warranties set forth in this Agreement are true and correct.

          10.1.3  Each  of  the Mardians shall deliver to MEGO all AD Stock free
and  clear  of  any  liens,  encumbrances  and  obligations.

          10.1.4  AD  and  Mardians shall have obtained Property Reports for all
One Acre Lots in Units 5 and 7 of Lake Mead Ranchos, which said Property Reports
shall  be  reasonably  satisfactory  to  Mego.

          10.1.5  There  shall  not have occurred any material adverse change in
the  assets,  business,  condition  or  prospects  of  AD.

          10.1.6  Subject  to  MEGO's  $200,000.00  cash  payment  at  the Stock
Closing,  all  One  Acre Lots are to be free of all liens and encumbrances other
than Permitted Encumbrances.

The  foregoing  conditions  are solely for the benefit of MEGO and MEGO shall be
entitled to consummate this transaction despite the failure of any condition. If
                                       10
<PAGE>
any  condition  is  unfulfilled at the Stock Closing, MEGO shall be entitled, in
addition  to  any  other  remedy  herein, to terminate this Agreement by written
notice  to  the  Mardians.  Failure  by  MEGO to terminate shall not be deemed a
waiver  of  any default hereunder. Mardians shall not be obligated to consummate
the Stock Closing unless MEGO, on the Stock Closing date, delivers a certificate
to  the  Mardians  in conformance with 10.1.2 of this Agreement and delivers the
MEGO  Stock  subject  only  to  the restrictions shown in 2.3(a) and (b) of this
Agreement,  as  applicable.

11.  Company  Board  of  Directors.
     -----------------------------

     11.1  On the Stock Closing, the Board of Directors and officers of AD shall
consist  of  such  persons  as  MEGO  shall  select and resignations of existing
directors  and  officers  will  be  delivered  to  MEGO  as  requested.

12.  Risk  of  Loss.
     --------------

     12.1  The risk of loss or destruction of all or any part of any of the AD's
properties  or  assets  prior  to  the  Stock Closing from any cause (including,
without  limitation, fire, theft, acts of God or public enemy) shall be upon the
AD and the Mardians.  Such risk shall be upon MEGO if such loss occurs after the
Stock  Closing.

13.  Miscellaneous.
     -------------

     13.1  BINDING  AGREEMENT.  The  parties  covenant  and  agree  that  this
Agree-ment, when executed and delivered by the parties, will constitute a legal,
valid  and  binding  agreement  between  the  parties and will be enforceable in
accordance  with  its  terms.

     13.2  ASSIGNMENT.  This Agreement and all of the provisions hereof shall be
binding  upon  and  inure  to  the  benefit  of  the parties hereto, their legal
representatives,  successors  and assigns.  In no event shall the Mardians or AD
assign  their  respective  rights  or  obligations hereunder, either directly or
indirectly.

     13.3  ENTIRE  AGREEMENT.  This  Agreement  and  its  exhibits and schedules
constitute  the  entire  contract  among  the parties hereto with respect to the
subject matter thereof, superseding all prior communications and discussions and
no  party  hereto  shall  be  bound  by any communi-cation on the subject matter
hereof unless such is in writing signed by any necessary party thereto and bears
a  date  subsequent  to  the  date  hereof.  The exhibits and schedules shall be
construed  with  and  deemed  as  an integral part of this Agreement to the same
extent as if the same had been set forth verbatim herein.  Information set forth
in  any  exhibit,  schedule or provision of this Agreement shall be deemed to be
set  forth  in  every other exhibit, schedule or provision of this Agreement and
therefore  shall  be  deemed to be disclosed for all purposes of this Agreement.

     13.4  MODIFICATION.  This  Agreement  may  be  waived,  changed,  amended,
discharged  or  terminated  only  by an agreement in writing signed by the party
against  whom  enforcement  of  any  waiver,  change,  amendment,  discharge  or
termination  is  sought.

     13.5 NOTICES. All notices, requests, demands and other communications shall
be  in  writing  and  may  be  given  by overnight courier, personal delivery or
facsimile  and  deemed  to have been duly given three (3) days after postmark of
                                       11
<PAGE>
deposit  in  the  United  States  mail, if mailed, certified or registered mail,
postage  prepaid:

          If  to  AD  or  the  Mardians:

                          4132  S.  Rainbow  Blvd.
                          PMB  324
                          Las  Vegas,  Nevada  89103
                          Attn:  Susan  Mardian

          If  to  Mego:
                          4310  Paradise  Road
                          Las  Vegas,  Nevada  89104
                          Attn:  Jon  A.  Joseph

          With  a  copy  to:
                          Quarles  &  Brady  Streich  Lang,  LLP
                          Renaissance  One
                          Two  North  Central  Avenue
                          Phoenix,  AZ  85004
                          Attn:  Bruce  B.  May,  Esq.

or  to  such other address as any party shall designate to the other in writing.
The  parties  shall  promptly advise each other of changes in addresses for such
notices.

     13.6  CHOICE  OF  LAW.  This  Agreement  shall  be  governed by, construed,
interpreted  and  enforced  according  to  the  laws  of  the  State  of Nevada.

     13.7  SEVERABILITY.  If  any  portion  of  this  Agreement shall be finally
determined  by  any  court  or  governmental agency of competent jurisdiction to
violate  applicable  law or otherwise not to conform to requirements of law and,
therefore,  to  be  invalid,  the  parties will cooperate to remedy or avoid the
invalidity,  but,  in  any  event,  will  not  upset  the  general  balance  of
relationships  created  or  intended to be created between them as manifested by
this  Agreement  and  the  instruments referred to herein.  Except insofar as it
would  be  an  abuse of the foregoing principle, the remaining provisions hereof
shall  remain  in  full  force  and  effect.

     13.8  OTHER  DOCUMENTS.  The  parties  shall upon reasonable request of the
other,  execute  such  documents as may be necessary or appropriate to carry out
the  intent  of  this  Agreement.

     13.9  HEADINGS  AND  THE USE OF PRONOUNS. The paragraph headings hereof are
intended  solely  for  convenience  of  reference  and shall not be construed to
explain  any  of  the  provisions  of  this  Agreement.  All  pronouns  and  any
variations  thereof  and other words, as applicable, shall be deemed to refer to
the  masculine,  feminine,  neuter,  singular  or  plural as the identity of the
person  or  matter  may  require.
                                       12
<PAGE>
     13.10  TIME  IS  OF  THE ESSENCE. Time is of the essence of this Agreement.

     13.11  NO  WAIVER  AND  REMEDIES.  No failure or delay on a parties part to
exercise  any  right  or remedy hereunder shall operate as a waiver thereof, nor
shall  any  single or partial exercise by a party of a right or remedy hereunder
preclude  any  other or further exercise.  No remedy or election hereunder shall
be  deemed  exclusive  but it shall, where ever possible, be cumulative with all
other  remedies  in  law  or  equity.

     13.12  COUNTERPARTS.  This  Agreement  may  be  executed  in  two  or  more
counterparts, and by the different parties hereto on separate counterparts, each
of which shall be deemed an original, but all of which together shall constitute
one  and  the  same  instrument.

     13.13 FURTHER ASSURANCES. Each of the parties hereto shall use commercially
practicable efforts to fulfill all of the conditions set forth in this Agreement
over  which  it  has  control  or  influence  (including  obtaining any consents
necessary  for  the  performance  of  such party's obligations hereunder) and to
consummate  the  transactions contemplated hereby, and shall execute and deliver
such  further  instruments and provide such documents as are necessary to effect
this  Agreement.

     13.14 RULES OF CONSTRUCTION. The normal rules of construction which require
the  terms of  an agreement to be construed most strictly against the drafter of
such  agreement  are  hereby  waived  since  each  party has been represented by
counsel  in the drafting and negotiation of this Agreement.  Any representation,
warranty  or  agreement  of  the  Mardians  shall  be  joint  and  several.

     13.15  THIRD  PARTY BENEFICIARIES. Each party hereto intends this Agreement
shall  not benefit or create any right or cause of action in or on behalf of any
person  other  than  the  parties  hereto.

     13.16  COMMISSIONS.  At such time as and only if Stock Closing occurs, MEGO
shall be responsible for a finders fee of $40,752 to Industrial Properties Group
(Al  Kingham) (the "Broker") and Mardians shall be responsible for a finders fee
of 4% of the sales price to be delivered in a form to be agreed between Mardians
and  Broker.  At  such  time  as  and  only if the Mardians provide Ranchos Unit
6/Sunny  Lake  Ranchos  Access,  MEGO  shall be responsible for a finders fee to
Broker  of  $88,948.00  and  Mardians  shall be responsible for a finders fee to
Broker  of  $88,948.00.

     SURVIVAL  OF  REPRESENTATIONS  AND  WARRANTIES.  Notwithstanding  anything
herein to the contrary, any representation, warranty and indemnity in connection
therewith  and covenants by Mardian, AD or MEGO shall expire five (5) years from
the  date  of  the  Stock  Closing.
                                       13
<PAGE>

     13.17  IN  WITNESS WHEREOF, the parties hereto have executed this Agreement
as of  the  date  written  above.

ATLANTIC  DEVELOPMENT                          MEGO  FINANCIAL  CORPORATION,  a
CORPORATION,  a  Nevada  corporation           New  York  corporation

By:                                            By:
  ----------------------------------              ------------------------------
Name:  Susan  R.  Mardian                      Name:  Gregg  A.  McMurtrie
Its:  President Title:                         Executive  Vice  President

SUSAN  R.  MARDIAN

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

LORI  A.  MARDIAN

-------------------------------------
LEONARD  K.  MARDIAN

For  the purposes of being bound only pursuant to Section 6.1 of this Agreement.

                                       14
<PAGE>
                                   EXHIBIT "A"
                                   -----------

PARCEL  1  (541  Lots)
----------------------
          Lots  3688  through  4228,  inclusive,  of  Lake  Mead Ranchos Unit 5,
          according  to  the  plat  thereof,  recorded June 20, 1961, at Fee No.
          104507,  in  the  office  of  the  County  Recorder  of Mohave County,
          Arizona.

          Except  therefrom, all coal, oil, gas and mineral deposits as reserved
          in  Instrument  recorded  in  Book 86 of Deeds, Page 49.

PARCEL  2  (402 Lots)
----------------------

          Lots  4229  through  4281,  inclusive,  and  lots  4283  through 4631,
          inclusive, of Lake Mead Ranchos Unit 6, according to the plat thereof,
          recorded June 20, 1961, at Fee No. 104508, in the office of the County
          Recorder  of  Mohave  County,  Arizona.

          Except  therefrom, all coal, oil, gas and mineral deposits as reserved
          in  Instrument  recorded  in  Book  86  of  Deeds,  Page  49.

PARCEL  3  (567  Lots)
----------------------

          Lots 4633, 4635 through 4649, inclusive, 4654 through 4662, inclusive,
          4664  through  4679,  inclusive,  4681,  4682,  4684  through  4689,
          inclusive, 4692 through 4716, inclusive, 4718 through 4728, inclusive,
          4730  through  4785,  inclusive,  4787,  4789 through 4792, inclusive,
          4794, 4796 through 4810, inclusive, 4812 through 4824, inclusive, 4826
          through  4846,  inclusive,  4849 through 4865, inclusive, 4867 through
          4871,  inclusive, 4874 through 4884, inclusive, and 4886 through 5223,
          inclusive, of Lake Mead Ranchos Unit 7, according to the plat thereof,
          recorded June 20, 1961, at Fee No. 104509, in the office of the County
          Recorder  of  Mohave  County,  Arizona.

          Except  therefrom, all coal, oil, gas and mineral deposits as reserved
          in  Instrument  recorded  in  Book  86  of  Deeds,  Page  49.

PARCEL  4  (511  Lots)
----------------------

          Lots  28  through  31, inclusive, 34 through 48, inclusive, 50 through
          74,  inclusive, 80 through 100, inclusive, 105 through 126, inclusive,
          132  through  154,  inclusive, 159 through 391, inclusive, 393 through
          413,  inclusive,  426,  and 437 through 582, inclusive, of Sunny Lakes
          Ranchos  Unit  1, according to the plat thereof, recorded December 19,
          1961,  at  Fee  No.  108884,  in  the office of the County Recorder of
          Mohave  County,  Arizona.

                                       15
<PAGE>
          Except  therefrom, all coal, oil, gas and mineral deposits as reserved
          in  Instrument  recorded  in  Book  86  of  Deeds,  Page  49.

ALL AS MORE FULLY SET FORTH IN WARRANTY DEED FROM ARIZONA ACREAGE, LLC, A NEVADA
LIMITED  LIABILITY  COMPANY TO ATLANTIC DEVELOPMENT CORP., A NEVADA CORPORATION,
RECORDED  MARCH 5, 2002 AS DOCUMENT NUMBER 2002014368 IN BOOK 4012, PAGE 174, IN
THE  OFFICE  OF  THE  COUNTY  RECORDER  OF  MOHAVE  COUNTY,  ARIZONA.
                                       16
<PAGE>

                                   EXHIBIT "B"
                                   -----------
                              PERMITTED EXCEPTIONS
                                       17
<PAGE>
------
                                    Exhibit B

                                                         Order No. 291-00-169547
                                                         --------

Part One:

1.   Taxes  or  assessments which are not shown as existing liens by the records
     of  any  taxing authority that levies taxes or assessments on real property
     or  by  the  public  records.

     Proceedings by a public agency which may result in taxes or assessments, or
     notices  of  such  proceedings, whether or not shown by the records of such
     agency  or  by  the  public  records.

2.   Any  facts,  rights,  interests or claims which are not shown by the public
     records  but  which could be ascertained by an inspection of the land or by
     making  inquiry  of  persons  in  possession  thereof.  *

3.   Easements, liens or encumbrances, or claims thereof, which are not shown by
     the  public  records.

4.   Discrepancies, conflicts in boundary lines, shortage in area, encroachments
     or any other facts which a correct survey would disclose, and which are not
     shown  by  the  public  records.

5.   (a)  Unpatented mining claims; (b) reservations or exceptions in patents or
     in Acts authorizing the issuance thereof; (c) water rights, claims or title
     to  water.

6.   Any  lien, or right to a lien, for services, labor or material, theretofore
     or  hereinafter  furnished,  imposed  by  law  and  not shown by the public
     records.

     *    On  the  Stock  Closing Date, that certain Grazing Lease which affects
          the One Acre Lots shall be terminated so as not to affect the One Acre
          Lots.

                                       18
<PAGE>
                                    Exhibit B

                                                        Order No. 291-000-169547
                                                        --------

Part  Two:

(All  recording  dates  refer to records in the office of the County Recorder in
the  County  in  which  the  land  is  situated.)

EXCEPTIONS:

1.   Taxes for the full year of 2002. (The first half is due October 1, 2002 and
     is delinquent November 1, 2002. The second half is due March 1, 2003 and is
     delinquent  May  1,  2003.)

2.   All  matters as set forth in the Covenants, Conditions, and Restrictions in
     instrument  recorded  in  Docket  138, Page 472, but deleting any covenant,
     condition  or  restriction  indicating  a  preference,  limitation  or
     discrimination  based  on  race,  color,  religion, sex, handicap, familial
     status  or  national  origin  to  the  extent such covenants, conditions or
     restrictions  violate  42  USC  3604(c).  (Parcel  No.  2)

3.   Easements, restrictions, reservations, conditions and set-back lines as set
     forth  on  the  plat,  recorded  at  Fee  Nos  61-104507 and 61-104509, but
     deleting  any  covenant,  condition or restriction indicating a preference,
     limitation or discrimination based on race, color, religion, sex, handicap,
     familial  status or natural origin to the extent such covenants, conditions
     or  restrictions  violate  42  USC  3604  (c).

4.   The  right  to  enter  upon said land and prospect for, mine and remove all
     coal,  oil,  gas  and  other  mineral  deposits,  as reserved in instrument
     recorded  in  Book  86  of  Deeds,  Page  49.

                                       19

<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}]]