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Position 1 (Upper Left) <br /> FORD FHA-259 <br /> (11-29-54) UNITED STATES DEPARTMENT OF AGRICULTURE <br /> FARMERS HOME ADMINISTRATION <br /> SEVERANCE AGREEMENT <br /> EIES Raymond C. Schmidt and <br /> of Wood River , 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 Lincoln Liberty Life Insurance Co. <br /> and of Lincoln, Nebr. <br /> County of Lancaster , State of Nebr. <br /> hereinafter called the "Mortgagee"or "owner"the following-described realproperty: <br /> Northwest Quarter of Section Fourteen (114), Township Nine (9), Range Twelve (12) <br /> in Hall County, Nebraska <br /> 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 /> 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 /> 1 Irrigation well and pump • <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 /> • <br /> . _ropy FHA-259 <br />