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EQUITABLE LIFE ASSURANCE SOCIETY OF U. S. v. BENNION

No. 8749.

346 P.2d 1053 (1959)

EQUITABLE LIFE ASSURANCE SOCIETY OF UNITED STATES, a Corporation, Plaintiff-Respondent, v. Samuel H. BENNION, sometimes known as S. H. Bennion, and Faye Judd Bennion, sometimes known as Faye J. Bennion, husband and wife, Defendants-Appellants.

Supreme Court of Idaho.

November 19, 1959.

Attorney(s) appearing for the Case

Rulon R. Price, Idaho Falls, for appellants.

Holden, Holden & Kidwell, Idaho Falls, for respondent.

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...

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