Wilmington Savings Fund Society v. Holverson

No. 122,179 IN THE COURT OF APPEALS OF THE STATE OF KANSAS WILMINGTON SAVINGS FUND SOCIETY, FSB d/b/a/ Christiana Trust as Owner Trustee of the Residential Credit Opportunities Trust III, Appellant, v. ASHLEY A. HOLVERSON, et al., Appellees. SYLLABUS BY THE COURT 1. In accordance with FGB Realty Advisors, Inc. v. Keller, 22 Kan. App. 2d 853, 854,

923 P.2d 520

(1996), when a note contains a clause allowing a noteholder to accelerate the borrower's loan due date upon the borrower's default, the noteholder must take two steps to exercise the note's acceleration clause, which results in triggering…