NORTHROP, District Judge.
The dispute in this case is over the proceeds of the sale of a Thunderbird seized by the United States pursuant to 49 U.S.C. secs. 781(a) (2) and 782, and 26 U.S.C. secs. 5851 and 5821, and 19 U.S.C. sec. 1610. The Lincoln National Bank (Lincoln) of Philadelphia, Pennsylvania, claims the fund by virtue of the default of its borrower, John Allen Watts.
The pertinent operative facts, as stipulated in the pre-trial order, are as follows...
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