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SMITH v. FRONTIER FEDERAL SAV. AND LOAN ASS'N

No. 56724.

649 P.2d 536 (1982)

Jeffrey W. SMITH, Cathy Smith, Merton Valentine and Betty Valentine, Appellants, v. FRONTIER FEDERAL SAVINGS AND LOAN ASSOCIATION, Appellee.

Supreme Court of Oklahoma.

July 27, 1982.

Attorney(s) appearing for the Case

Jon R. Ford of Ford, Grey Harvey & Smith, Enid, for appellants.

Richard W. Gable of Gable, Gotwals, Rubin, Fox, Johnson & Baker, Tulsa, Robert B. Park of Park, Nelson, Caywood & Park, Chickasha, for appellee.

DOOLIN, Justice:

On February 1, 1978, Jeffrey N. Smith and Kathy L. Smith executed a mortgage to Frontier Federal Savings and Loan Association on a certain piece of property in Enid, Oklahoma. One of the provisions of the mortgage was a "due on sale" clause, under which if the Smiths transferred any interest in the property, then Frontier Federal would have the option to declare the entire indebtedness due and payable. The...

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