VESTIN GROUP INC
EXHIBIT 10.2
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<TYPE>EX-10.2
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<DESCRIPTION>EXHIBIT 10.2
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<P align="right" style="font-size: 10pt"><B>Exhibit 10.2</B>


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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">$1,600,000.00
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">December&nbsp;29, 2004<BR>
Las Vegas, Nevada</TD>
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<P align="center" style="font-size: 10pt"><B>PROMISSORY NOTE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For Value Received, VESTIN GROUP, INC., a Delaware corporation
(<B><I>&#147;Borrower&#148;</I></B>) promises to pay to SHUSTEK INVESTMENTS, INC., a Nevada
corporation, having a place of business at 8379 West Sunset Road, Las Vegas,
Nevada 89113 (<B><I>&#147;Lender&#148;</I></B>), or order, the principal amount of One Million Six
Hundred Thousand Dollars ($1,600,000.00) (<B><I>&#147;Loan&#148;</I></B>), together with interest from
the date hereof on the unpaid principal balance as hereinafter provided.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest
at a rate of eight percent (8%) per annum (<B><I>&#147;Interest
Rate&#148;</I></B>),
shall be payable monthly on the 29th day of each month commencing on January
29, 2005 and continuing on the same day of each successive month thereafter
until December&nbsp;29, 2005 (the <B><I>&#147;Maturity Date&#148;</I></B>). On the Maturity Date, all
interest accrued and unpaid and the outstanding principal balance plus all
other unpaid advancements, charges, costs and fees shall be due and payable in
full. Interest shall be calculated on the basis of a three hundred sixty
(360)&nbsp;day year counting the actual number of days elapsed. In no event shall
the amount of interest payable with respect to the outstanding principal
balance, together with all other charges which are required to be treated as
interest under applicable usury law, exceed the amount of interest allowable by
such laws. Any change in the applicable laws or the maximum rate thereunder
shall be effective as to the determination of the amount of allowable interest
as of the effective date of such change. In the event that any amount is
collected in excess of the applicable allowable rate, the excess amount
collected shall be applied to reduce the principal debt. All payments
hereunder shall be applied first against interest then due and payable and the
balance in reduction of principal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Both principal and interest shall be paid by Borrower in lawful money of
the United States of America such that Lender has received immediately
available funds for the credit of Borrower not later than 3:00 p.m. Pacific
Standard Time on the date that such payment is due. Any payment made after
3:00 p.m. Pacific Standard Time shall be deemed received on the next Business
Day. If any payment hereunder becomes due on any day which is not a Business
Day, such payment shall be made on the next succeeding Business Day. The term
&#147;Business Day&#148; means any day on which banks in Las Vegas, Nevada, are not
authorized or required to be closed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All payments shall be made to Lender at 8379 W. Sunset Road, Las Vegas,
Nevada 89113 (or such other place as Lender may designate in writing) in
immediately available funds.


<P align="center" style="font-size: 10pt">-1-
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<P align="center" style="font-size: 10pt"><B>THIS NOTE MAY BE PREPAID, IN WHOLE OR IN PART,<BR> AT ANY TIME,
WITHOUT PREMIUM OR PENALTY.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Note is secured by that certain Stock Pledge Agreement of even date
herewith executed by Borrower in favor of Lender evidencing Borrower&#146;s pledge
of Four Hundred Thousand ($400,000) shares at Borrower&#146;s .0001 par value common
stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the event Borrower fails to make a payment of principal and/or interest
on the date payment is due, Borrower agrees to pay Lender, liquidated damages
in the form of a late charge in an amount equal to eighteen percent (18%) of
the amount due, in addition to the amount due. Borrower acknowledges that this
late charge is reasonable and is not to be construed as a penalty.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Note is subject to acceleration as provided herein.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The occurrence of any one or more of the following events shall constitute
an Event of Default hereunder:


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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" nowrap align="right">a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Borrower shall fail to pay any principal, interest or other
charges hereunder, or in respect of any of its obligations to the
Lender within ten (10)&nbsp;days of when the same shall become due and
payable; or</TD>
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    <TD colspan="5">&nbsp;</TD>
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    <TD width="4%" nowrap align="right">b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Borrower shall fail to observe or perform any other covenant
or agreement to be observed or performed by Borrower hereunder upon
the occurrence of any of the foregoing events, the entire balance of
principal and interest then unpaid under this Note, and all other
obligations of Borrower to Lender (however acquired or evidenced)
shall, at the option of Lender, become forthwith due and payable
without presentment, notice, protest or demand of any kind, all of
which are expressly waived by Borrower for the payment of the whole
or any part thereof. Lender&#146;s failure to exercise such option shall
not constitute a waiver of the right to exercise it at any other
time.</TD>
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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any attorney is engaged by Lender or if Lender incurs any costs,
expenses or losses because of any Event of Default or to enforce or defend any
provision of this Note, then Borrower shall pay upon demand the reasonable
attorneys&#146; fees and costs, expenses and losses so incurred by Lender.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower waives presentment, demand, notice of dishonor, notice of default
or delinquency, notice of acceleration, notice of protest and nonpayment,
notice of costs, expenses or losses and interest thereon, notice of interest on
interest and late charges and diligence in taking any action to collect any
sums owing under this Note or in proceeding


<P align="center" style="font-size: 10pt">-2-
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<P align="left" style="font-size: 10pt">against any of the rights and
interests in and to properties, if any, securing payment of this Note.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Note shall be construed and enforced in accordance with the laws of
the State of Nevada, except to the extent that Lender shall at any time have
greater rights under Federal law; and all persons and entities in any manner
obligated under this Note consent to the jurisdiction of any Federal or State
court within the State of Nevada selected by Lender and also consent to service
of process by any means authorized by Nevada or Federal law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lender may assign, transfer or negotiate its interest in this Note or all
its right, title and interest in and to this Note and its security for the
performance of the Borrower&#146;s obligations, and in such event all the provisions
of this Note shall inure to the benefit of and may be exercised by or on behalf
of the assignee, transferee or successor holder, and no payments of principal
and of interest due and to become due under this Note shall thereafter be
subject to any defense, counterclaim or set-off which the Borrower may have
against the Lender.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrower, to the extent it may lawfully do so, as to any legal action or
proceeding arising out of or based upon this Note, waives trial by jury.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned has executed this Note as a sealed
instrument as of the day and year first above written.

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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>BORROWER:</B></TD>
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</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>VESTIN GROUP, INC.</B>, a Delaware</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">corporation</TD>
</TR>

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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

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</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: <U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U><U>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U></TD>
</TR>

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</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: John Alderfer</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Chief Financial Officer</TD>
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<P align="center" style="font-size: 10pt">-3-
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