American Savings & Loan Ass'n v. Blomquist

CROCKETT, Chief Justice.

Wayne T. Blomquist and Ruth E. Blom-quist, his wife, (the primary defendants) executed a $21,000 first mortgage on a home in Salt Lake City to the plaintiff American Savings & Loan Association on April 20, 1961, which was to be paid off in monthly payments. On January 8, 1965, when the Blomquists were several months in arrears on their payments, American Savings exercised its option to declare the entire indebtedness due and commenced a foreclosure proceeding. Eleven months later, December 6, 1965, the Blomquists sold the property to A. D. Sellars and Marie L. Sellars…