First Security Bank of Utah v. Proudfit Sporting Goods Co.

HENRIOD, Chief Justice:

Appeal from a foreclosure judgment declared to have priority over a mortgage asserted by Remington against Proudfit, First Security’s mortgagee in point of time. Affirmed, with no costs awarded.

In 1967, Proudfit borrowed $45,000 from First Security, executing a mortgage securing a note for that amount. In November, 1970, the note had not been paid in full. At the request of Proudfit a trust deed was executed for the unpaid balance, plus an additional advance for a total of $63,000 indebtedness, securing a renewal note. This trust deed was given, as recited therein, to…