Bank of the Wichitas v. Ledford

¶ 1 The dispositive issues tendered on appeal are: (1) Are the mortgages at issue valid and enforceable? and if so (2) Is appellant entitled to require appellees to marshal assets? and if not (3) Are appellees entitled to summary judgment of foreclosure, authorizing them to choose the order in which the mortgaged property is sold and to be reimbursed from the proceeds of such sale in the full amount tendered by them in satisfaction of the secured debt? We answer the first question in the affirmative and the second and third questions in the negative.

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ANATOMY OF LITIGATION

¶ 2 On the 4th day of…