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Position 1 (Upper Left) <br /> FoRH FHA-259 <br /> eel TED STATES AGRICULTURE <br /> (11-29-54) FARMERS HOME ADMINi3?RATtRN <br /> SEVERANCE AGREEMENT <br /> .-,Donald V. Meier <br /> WHEREAS and Erma L. Meier- <br /> of Rt. 1, Grand Island County of Hall <br /> State of Nebr. , hereinafter called the "borrowers," are <br /> leasing from, purchasing under contract from, have mortgaged to, or nave encumbered <br /> by executing a deed of trust securing a note(s) held by Fred Ottemoeller <br /> and \ • Rosa Ottemoeller of Grand Island <br /> Covnty of Hall - , State of Nebr. <br /> No hereinafter called the "Mortgagee" or "owner"the following-described realProperty: <br /> 5' <br /> Ni of NWi,of Section 13, Township 12 North, Help 10 West of the 6th P.M. <br /> Hall, county, Nebr. <br /> • <br /> 1 AND WHEREAS, the borrowers have applied to the United States of America (herein- <br /> after called the "Government") for a loan for the purpose of improving the afore- <br /> -4 said real property by the construction, erection, or addition thereto of the <br /> structures and equipment described below and have agreed to give the Government <br /> a mortgage lien thereon: <br /> One Irrigation Power Unit (electric) <br /> NOW, THEREFORE, for and in consideration of the insuring or making of such a loan <br /> by the Government and of the installation of the structures and equipment by the <br /> borrowers, the parties hereto do covenant and agree that, as to the lien of the <br /> Government, such structures and equipment shall remain severed from said real <br /> property, will be considered with respect to the interest of the parties hereto <br /> as personal property and, even though attached thereto, shall not be considered <br /> to become fixtures or a part of the real estate or subject to the lien of any <br /> security instrument heretofore or hereafter placed thereon by any of the parties <br /> hereto, except the lien of the Government, until the expiration or release of the <br /> Government's lien including any extension or renewal thereof. <br /> FORM FHA-259 <br /> 5 5‘ 7 <br />