Associated Industrial Developments, Inc. v. Jewkes

ZIMMERMAN, Justice:

Plaintiff and defendants entered into various agreements respecting a piece of real property, culminating in a 1981 agreement providing for sale of the property to defendants. Defendants then mortgaged it back to plaintiff by way of a trust deed and a promissory note. The trust deed provided that in the event of default, it could be foreclosed upon like a mortgage. Defendants defaulted and plaintiff commenced a foreclosure action under the Code. U.C.A., 1953, §§ 78-37-1 to -9 (1977 ed.). Plaintiff sought judgment for the total principal sum plus interest, reasonable…