Porter v. Wood

Citations

• 93 Kan. 297
• 144 P. 216
• 1914 Kan. LEXIS 424

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Mortgage Stipulation — Default of Mortgagor — Failure to Keep Property Insured — Right of Foreclosure. Where a mortgage contains distinct clauses wherein the mortgagor covenants to pay the debt which it secures according to the terms of an accompanying promissory note and to procure and maintain insurance upon the buildings upon the mortgaged land; and also contains a clause that upon failure to comply with any of the foregoing conditions or agreements the whole sum secured by the mortgage shall become due without notice, a breach of the agreement respecting insurance accelerates the time of payment, the debt becomes due at the option of the owner of the mortgage, and foreclosure may be maintained.</p> <p>2. Pleadings — Mortgage Stipulation. • — Foreclosure — Sufficient . Petition. A petition which sets out a copy of the mortgage with conditions as stated above and alleges failure to keep the covenant respecting insurance states a cause of action, although there is nothing then due upon the note according to its terms.</p>