King

Appellant and her husband (now deceased), on August 15, 1930, executed a guaranty of note secured by a deed of trust. The note matured in three years. Respondents herein are the payees of said note and the beneficiaries of said deed of trust. The note, deed of trust and guaranty were all executed as a part of one transaction. At the time of the execution of said instruments appellant and her husband (both of whom will be hereinafter referred to as appellant) held a junior encumbrance on the property described in the deed of trust. Subsequent to the execution of said instruments the original makers of the note and trustors named in the deed of trust conveyed the property described in the deed of trust to A. W. Lane and Edith M. Lane, husband and wife, subject to the lien of respondents and the junior lien of appellant. Some time prior to August, 1932, the husband of appellant died and she became the sole owner of the junior lien as a surviving joint tenant. In August, 1932, the Lanes were delinquent in the payment of interest on the note held by respondents, and wrote a letter to respondents acknowledging the delinquency and advising them that they intended to have a conference…