(a) An agreement of the parties to a covered transaction with respect to default on the part of the consumer shall be enforceable only to the extent that the:
(1) Consumer fails to make a payment as required by agreement; or
(2) (A) prospect of payment, performance or realization of collateral is significantly impaired.
(B) For purposes of this paragraph, the burden of establishing the prospect of significant impairment shall be on the mortgage company.
(b) The provisions of this section shall be a part of and supplemental to the Kansas mortgage business act.