State Bank of Lehi v. Woolsey

MAUGHAN, Justice:

Before us is a judgment allowing foreclosure. Plaintiff held, and the action was grounded on, a security interest in realty, and personalty pledged by defendants. We affirm. Costs to plaintiffs.

Defendants operated a mink ranch and became indebted to plaintiff in the sum of $161,000. The debt was evidenced by three promissory notes, and certain security agreements.

On January 2, 1976, plaintiff filed this action, in keeping with an appropriate acceleration clause. It alleged the three notes were delinquent and sought foreclosure of its security interest, in both the real and…