(DOWNLOAD) "First Nat'l Bank v. Milford" by Supreme Court of Kansas ~ Book PDF Kindle ePub Free
eBook details
- Title: First Nat'l Bank v. Milford
- Author : Supreme Court of Kansas
- Release Date : January 02, 1986
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 61 KB
Description
The opinion of the court was delivered by This appeal involves two cases which were consolidated for trial in the district court and which have been consolidated in this court for purposes of appeal. Both cases grew out of a foreclosure action filed in Ford County by the First National Bank & Trust Company, Dodge City, Kansas. The facts, allegations and issues are hopelessly interwoven in the pleadings and briefs and will be presented together in this opinion. Adrian Milford and Mary Milford, his wife, (hereafter referred to as the Milfords) were the owners of 480 acres of farm land in Ford County and 520 acres in Meade County. Their farming operation was financed by the First National Bank & Trust Company, Dodge City, Kansas (First National or the Bank) from 1977 to 1982. The Ford County property was subject to a first mortgage in favor of Connecticut Mutual Life Insurance Company, a second mortgage to the Small Business Administration, and a third held by First National. The Meade County property was encumbered with a first mortgage in favor of the Farmers Home Administration and a second mortgage to First National. The Bank also held a security interest in certain specified personal property of the Milfords, consisting primarily of farm machinery and equipment located in both counties, and the growing crops on both properties. The financing statement of the Bank was properly filed and no issue is made that it did not have a valid perfected security interest. Likewise, there is no controversy as to the validity of the mortgages on the real properties.