First Nat'l Bank of Olathe v. Clark

The opinion of the court was delivered by This is a mortgage foreclosure action brought by First National Bank of Olathe against Donald C. and Terry J. Clark of Bonner Springs. The trial court granted judgment to the bank and the Clarks appeal. We affirm. Appellants, Donald C. and Terry J. Clark, own and operate Double D Meats, a packing plant, which is located on a five-acre tract with the family home in Bonner Springs. On May 16, 1973, appellants borrowed $52,000.00 from appellee First National Bank of Olathe. They executed a promissory note and security agreement giving the bank a security interest in the packing plant and the home as well as all furniture, fixtures, machinery, tools and other equipment now owned or hereafter acquired by debtor. The security agreement was duly filed of record in Wyandotte County and the loan proceeds disbursed.