First Security Trust Co. v. John H. Seely & Sons Co.

ELIAS HANSEN, Chief Justice.

Plaintiff as trustee brought this suit in the district court of Sanpete county, Utah, to foreclose a mortgage in the form of a trust deed which was executed on November 1, 1928, •by the defendant as security for the payment of bonds in the aggregate sum of $100,000 par value. The bonds were made payable in annual installments up to and including November 1, 1938. There were 133 bonds, 66 of which were of the par value of $500, and 67 of the par value of $1,000 each. All of the bonds bore interest at 7 per cent per annum, interest payable semiannually. The trust…