Ogden v. Gibraltar Savings Ass'n

BARROW, Justice,

dissenting.

I respectfully dissent.

I agree with the conclusion of the court of civil appeals that the letter of August 17, 1978 was proper demand notice to Ogden, who was then delinquent for at least eight monthly payments. The terms of the letter were sufficient notification that unless Ogden cured this breach before September 16, 1978, Gibraltar would exercise its option under the deed of trust to accelerate the note and foreclose on the property. Cf. Allen Sales & Servicenter, Inc. v. Ryan, 525 S.W.2d 863 (Tex.1975). No payment was made or tendered by Ogden and the property was properly posted for foreclosure sale in accordance with the terms of the deed of trust. The property was sold at the foreclosure sale on December 5, 1978 without Ogden tendering either the sum due on the accelerated note or any part of the deficiency.

I would affirm the judgments of the lower courts.