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• <br /> Form FHA-259 1110 '' • <br /> (Rev.8-22-52) <br /> ' • • <br /> r 7 POSITION ((UPPER LEFT) <br /> jj <br /> UNITED'STATES DEPARTMENT OF AGRICULTURE <br /> FARMERS HOME ADMINISTRATION <br /> SEVERANCE AGREEMENT <br /> (WA'T'ER FAdIJ ES PROGRAM) <br /> • <br /> WHEREAS Charles S. Rathman and TA 11-i an K. Rathman <br /> of Grand Island , County of Hal]. , State of Nebraska <br /> hereinafter called the "borrowers," are leasing from,purchasing under contract from,have mortgaged to, <br /> or have encumbered by executing a deed of trust securing a note(s) held by____First__N&tional.._.Bank,____ <br /> -- — and of Gr_and_Island <br /> County of_ HAD ,State of Nebraska , hereinafter called <br /> the"owners"or"creditors,"the following-described real property: <br /> ,';:'The East half- of Southwest Quarter of Section Fourteen (]Ji), in Township <br /> Eleven (11) North of Range Ten (10) West of 6th P.M. Hall County`Nebraska. <br /> AND, WHEREAS, the borrowers have applied to the United States of America (hereinafter called the <br /> "Government") for a Water Facilities loan for the purpose of improving the aforesaid real property by <br /> the construction,erection,or addition thereto of the structures and equipment described and have agreed <br /> to give the Government a purchase money mortgage lien thereon: <br /> Irrigation Well <br /> Irrigation Pump <br /> NOW, THEREFORE, for and in consideration of the making of such a loan by the Government and of <br /> the installation of the structures and equipment by the borrowers, the parties hereto do covenant and <br /> agree that, as to the lien of the Government, such structures and equipment shall remain severed from <br /> said real property,will be considered with respect to the interests of the parties hereto as personal prop- <br /> erty and, even though attached thereto, shall not be considered to become fixtures or a part of the real <br /> estate or subject to the lien of any security instrument heretofore or hereafter placed thereon by any of <br /> the parties hereto,except the lien of the Government until the expiration of the Government's lien and any <br /> extension or renewal thereof and until the repayment of said loan. <br /> Form FHA-259 <br /> 16-604&2-2 <br />