Equitable Life Assurance Society of United States v. Bennion

KNUDSON, Justice.

On March 28, 1953 respondent loaned appellants the sum of $8,500 and to evidence such indebtedness appellants executed a promissory note. As security for the payment of said note appellants executed a mortgage upon real estate together with an assignment of a life insurance policy upon the life of appellant Samuel H. Bennion. The mortgage contained the following provisions to wit:

“Second. That so long as the debt hereby secured, or any part thereof, *448remains unpaid, the mortgagor will pay-as the same becomes due and payable all taxes, assessments and other charges imposed by…