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<br />ORIGINAL DOCUMENT MUST BE RETURNED TO FARM CREDIT SERVICES OF AMERICA PRIOR TO FUNDING
<br />Farm Credit Services of America
<br />Severance Agreement
<br />WHEREAS, the undersigned hold certain interests in the below- described real property ( "Property ") and the Lessee has entered into that certain Lease Agreement
<br />dated ( "Lease ") with the Lessor as listed on Page 2 of this Agreement ( "Lessor ") for the lease of certain structures and/or equipment located on the Property
<br />described below or in the appropriate Exhibit A ( "Equipment "), a copy of which is attached. NOW, THEREFORE, in consideration of the mutual benefits to be derived
<br />by the parties hereto ( "Parties ") from the making of such Lease, the undersigned hereby agree to the terms contained below and on the following pages.
<br />The Equipment shall remain severed from the Property;
<br />Even if attached to the Property, the Equipment shall retain its personal character, shall be removable from the Property, shall be treated as personal property
<br />with respect to the rights of the parties, and shall not become a fixture or a part of the Property;
<br />Title and ownership of the Equipment shall remain with Lessor;
<br />The Equipment shall not be subject to the lien of any secured transaction, mortgage on the Property, or instrument heretofore or hereafter arising against the
<br />Property or any other structure or equipment which is not the Equipment to which it is placed;
<br />Lessor, its agents and assigns, shall have full access upon the Property to inspect, repair, rebuild, disassemble, or remove the Equipment without further notice to, or
<br />further permission of, charge for, or obligation to, the Parties, and in the event of default by Lessee in the payment or performance of any of Lessee's obligations and
<br />liabilities to Lessor, Lessor may remove the Equipment or any part hereof from the Property without objection, delay, hindrance or interference by the Parties, and in
<br />such case, the Parties will make no claim or demand whatsoever against the Equipment. In the event of any such default by Lessee, at Lessor's option, the
<br />Equipment may remain upon the Property free of rent or any charge for use and occupancy for a period not exceeding three (3) months after the receipt by Lessor of
<br />written notice from the Parties directing removal. Lessor shall repair damage to the Property actually caused by Lessor's removal of the Equipment;
<br />The Equipment may remain on the Property without charge for the duration of the Lease and for a reasonable time thereafter, in order that Lessor may remove the
<br />Equipment; and
<br />Lessor and Lessee may agree, without affecting the validity of this Agreement, to extend, amend or in any way modify the terms of payment or performance of any of
<br />Lessee's obligations and liabilities to Lessor, without the consent and without giving notice thereof to the Parties.
<br />All of the parties agree that Lessor may sell, transfer, convey, or assign its interest in the Lease to any other persons or entities and that the terms of this Severance
<br />Agreement will remain fully valid and in effect and binding upon the Parties for the benefit of such above - referenced persons or entities.
<br />This Severance Agreement binds all of the Parties, their (its) heirs, personal representatives, successors, and assigns and shall inure to the benefit of Lessor, its
<br />successors and assigns.
<br />Lessee represents and warrants to Lessor that it has an interest of record in the Property or is in possession of the Property and has the right and authority to enter
<br />into this Severance Agreement. Further Lessee represents and warrants that the information contained herein is true and complete, and except as described herein,
<br />no other person or entity has any interest in the below described Property. Lessee understands and agrees that Lessor is relying on the information contained herein
<br />in providing lease financing to Lessee. Lessee shall indemnify and hold Lessor harmless from all losses, liabilities, damages, costs and expenses, including attorney
<br />fees, incurred by Lessor arising out of the breach of the representations and warranties contained herein.
<br />Severance Agreement Form 8336 (9 -2003) Page 1 of 3
<br />Contract Number: 300 - 9113991 -001 Application Number: 527956 Customer Number: 113991
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<br />ORIGINAL DOCUMENT MUST BE RETURNED TO FARM CREDIT SERVICES OF AMERICA PRIOR TO FUNDING
<br />Farm Credit Services of America
<br />Severance Agreement
<br />WHEREAS, the undersigned hold certain interests in the below- described real property ( "Property ") and the Lessee has entered into that certain Lease Agreement
<br />dated ( "Lease ") with the Lessor as listed on Page 2 of this Agreement ( "Lessor ") for the lease of certain structures and/or equipment located on the Property
<br />described below or in the appropriate Exhibit A ( "Equipment "), a copy of which is attached. NOW, THEREFORE, in consideration of the mutual benefits to be derived
<br />by the parties hereto ( "Parties ") from the making of such Lease, the undersigned hereby agree to the terms contained below and on the following pages.
<br />The Equipment shall remain severed from the Property;
<br />Even if attached to the Property, the Equipment shall retain its personal character, shall be removable from the Property, shall be treated as personal property
<br />with respect to the rights of the parties, and shall not become a fixture or a part of the Property;
<br />Title and ownership of the Equipment shall remain with Lessor;
<br />The Equipment shall not be subject to the lien of any secured transaction, mortgage on the Property, or instrument heretofore or hereafter arising against the
<br />Property or any other structure or equipment which is not the Equipment to which it is placed;
<br />Lessor, its agents and assigns, shall have full access upon the Property to inspect, repair, rebuild, disassemble, or remove the Equipment without further notice to, or
<br />further permission of, charge for, or obligation to, the Parties, and in the event of default by Lessee in the payment or performance of any of Lessee's obligations and
<br />liabilities to Lessor, Lessor may remove the Equipment or any part hereof from the Property without objection, delay, hindrance or interference by the Parties, and in
<br />such case, the Parties will make no claim or demand whatsoever against the Equipment. In the event of any such default by Lessee, at Lessor's option, the
<br />Equipment may remain upon the Property free of rent or any charge for use and occupancy for a period not exceeding three (3) months after the receipt by Lessor of
<br />written notice from the Parties directing removal. Lessor shall repair damage to the Property actually caused by Lessor's removal of the Equipment;
<br />The Equipment may remain on the Property without charge for the duration of the Lease and for a reasonable time thereafter, in order that Lessor may remove the
<br />Equipment; and
<br />Lessor and Lessee may agree, without affecting the validity of this Agreement, to extend, amend or in any way modify the terms of payment or performance of any of
<br />Lessee's obligations and liabilities to Lessor, without the consent and without giving notice thereof to the Parties.
<br />All of the parties agree that Lessor may sell, transfer, convey, or assign its interest in the Lease to any other persons or entities and that the terms of this Severance
<br />Agreement will remain fully valid and in effect and binding upon the Parties for the benefit of such above - referenced persons or entities.
<br />This Severance Agreement binds all of the Parties, their (its) heirs, personal representatives, successors, and assigns and shall inure to the benefit of Lessor, its
<br />successors and assigns.
<br />Lessee represents and warrants to Lessor that it has an interest of record in the Property or is in possession of the Property and has the right and authority to enter
<br />into this Severance Agreement. Further Lessee represents and warrants that the information contained herein is true and complete, and except as described herein,
<br />no other person or entity has any interest in the below described Property. Lessee understands and agrees that Lessor is relying on the information contained herein
<br />in providing lease financing to Lessee. Lessee shall indemnify and hold Lessor harmless from all losses, liabilities, damages, costs and expenses, including attorney
<br />fees, incurred by Lessor arising out of the breach of the representations and warranties contained herein.
<br />Severance Agreement Form 8336 (9 -2003) Page 1 of 3
<br />Contract Number: 300 - 9113991 -001 Application Number: 527956 Customer Number: 113991
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