Beep Beep Beep - ARGH!
 

My car beeps after the keys are removed from the ignition. It beeps at a constant rate around 2-3 beeps per second. This will ONLY happen if I:
A) Turn on the security system. (Switch under the dash is not on Valet mode).
B) Arm the car by closing the door and pressing the lock on the remote. (and yes the keys are not in the ignition).

At this point the beeping will start and will not stop until i disconnect the battery for a few hours to reset the computer. IF i disconnect the battery and reconnect it a few seconds/minutes later the beeps will keep on going.

If i turn the engine on the beeps dont happen any more. Oh, also i should mention that when the beeps happen the two rear red lamps stay on.

I have been searching far and wide for an answer to this, nobodys been able to figure it out... is anyone here able to lend a hand? Also this occured before i rebuilt the engine and after the new engine was put in, dont know if that helps any.

Nobody able to help?