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AMERICAN SAVINGS & LOAN ASSOCIATION v. BLOMQUIST

No. 11631.

465 P.2d 353 (1970)

24 Utah 2d 35

AMERICAN SAVINGS & LOAN ASSOCIATION, a corporation, Plaintiff, v. Wayne T. BLOMQUIST and Ruth E. Blomquist, his wife, et al., Defendants and Appellants. A.D. SELLARS and Marie L. Sellars, his wife, Cross-Complainants and Respondents, v. Wayne T. BLOMQUIST and Ruth E. Blomquist, his wife, Cross-Defendants and Appellants.

Supreme Court of Utah.

February 17, 1970.

Attorney(s) appearing for the Case

Richard L. Young, Salt Lake City, for appellants.

Lowell V. Summerhays, of Summerhays, Klingle & Cohne, Salt Lake City, for respondents.

CROCKETT, Chief Justice.

Wayne T. Blomquist and Ruth E. Blomquist, 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...

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