Phillips v. Webster

Opinion by

Schauer, R.A.J. *

The parties appear in the same order of their appearance in the trial court and the facts are not disputed.

The subject property consists of a thirteen-unit motel in the Colorado Springs area. Phillips had purchased the property on October 1, 1962, and was still the record owner. A predecessor in title, one Helen J. Shockley, had, on April 21, 1959, executed her deed of trust on the property to secure the payment of her promissory note of the same date, payable to Gerald S. Webster and Florence E. Webster for the principal sum of $105,766.92, bearing interest at five…