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79-~ U ~- ~~ ~. ~_= S EVERANCE AGREEMENT <br />9io3.a M Johnson <br />WHEREAS, husband and wife, <br />hereinafter 'called-'the "Borrowers" have applied to the First National Bank of <br />Grand Island, Nebraska, for a loan for the purpose of purchasing a 1973 ~-~-n8o <br />mobile hems ].$x76 serial 236676 washer-dryer , and, ventral-air~skirtiag~ si<eps. <br />WHEREAS, the Borrowers are contemplating placing such mobile home on a <br />foundation on the following described real estate, to cvit: pER ATTACHED LIST. <br />and <br />idHEREt.S, the Burrowers have agreed to give to The First National Bank of <br />Grand Island, as security for such loan, a mortgage on and a security interest <br />fr, such mobile home. <br />NOW, THEREFORE, the parties hereto hereby covenant and agreed that such <br />mobile home, <br />1. Shall remain severed from said real estate, and <br />~: Eve;, if attached to the realty, --hall retain its per- <br />sonal character; shall be removable from the real estate; and <br />shall be treated as personal property with respect to the rights <br />of parties and shall not become a fixture or part of the real <br />estate, and <br />3. Shall not be subject to the lien of any security trans- <br />action or instrument heretofore or hereinafter arising against <br />the aforesaid real estate upon which such mobile home is to be <br />placed, until <br />a) -the expiration of the lien of the First National <br />Bank of Grand Island, Nebraska, or any renewal <br />thereof, and <br />b) until the repayment of said loan. <br />It is further understood and agreed that if such mobile home is acquired <br />by the Firs[ National Bank of Grand Island through foreclosure or other means, <br />*_hat such mobile home shall, at the option of the Bank, be aliawed to remain <br />an the above described real estate for a period of not to exceed six (6) months <br />after the date of the acquisition thereof aL no expense [o the First National <br />Bank of Grand Island. <br />1N kITN•SS WHEREOF, the Bor ~ers hav hereunto affixed their signatures <br />this day of ~~~+~_ <br />J <br />STAT£ OF NEBRASKA ) <br />} SS: <br />COUNTY flF ~~}" I ) <br />Before erte, a notary public qualified for said county, personally came <br />, husband and wife, known to me to be the <br />identical persons who signed the foregoing instrument and acknowledged the <br />execution thereof to be Eheir voluntary-act and deed. <br />~IiEness my h n t al seal on this ~ day of _1y~~2 <br />~,~~ *. <br />T~°~ ~E ~~~, ~J <br />~~~~r Notary Public <br />M~¢,rCommissi ~ <br />ds/ <br />J <br />