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SEVERANCE AGREFPtF.NT <br />?9-. 005622 <br />S:'HEREAS, Arthur C. & Maxine r1~ gosel$on , husband and wife, <br />hereinafter called the "Borrowers" have applied Co the first Nationai Bank of <br />Grand Island, Nebraska, for a loan For the purpo::e of pnr<~hasin a <br />Century mobile homey 24 X 64, Appliances and, Oe~tral-air <br />lJ'dF:REAS, the Borrowers are contemplating placing such mobile home on a <br />foundation on the fol.iowing described real es [ate, to wit: <br />Lot 10 in blook 4 Dale Rousch 2nd Subdivisioa~ situated in past of <br />East ~ of Southwest gvarter~ East ~ ,'Southwest ~ of Section 14~ <br />North 10: West of sixth PM. <br />and, <br />` id}lEREAS, the Borrowers 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 />in ~;uch mobile home. <br />NOW, THEREFORE, the parties hereto hereby covenant and agreed chat such <br />mobile home, <br />1. Shall remain severed from said real estate, and <br />liven if attached to the realty, shall retain its per- <br />sonal~character; shall be removable from the real estate; and <br />shall. be [rented as personal property •..•ith respect to the rights <br />of parties and shall not become a fix wire or part of the real <br />r;tate, 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 Nationai <br />Bank of Grand Island, Nebraska, or any renewal <br />- thereof, and <br />b) until the repayment of said loan. _ <br />Ir is further understood ant agreed that if such mobile hems is acquired <br />by the First Natiar~l IianK of Grand Island through foreclosure or other Weans, <br />that sttctt mahile ~ -hall, at the option of the Sank, be allowed to remain <br />____on_the_~b_ove_deacril?ed rea-1 c~stat~ for a period of oat to exee.ed -six (f~3 monthE - <br />after the date of the acquisition thereof at no expense to the Firs[ National <br />Rank of Crand 7slanci. <br />IN WITNESS WHEREOF, [tie Borrowers eve hereunto affixed their signatures <br />t!, l s ~ ~t say of ._._..~(. l <br />~~ <br />. ~~ <br />aTAT'F. OF NEBRASKA ) <br />~~~ ) Ss: <br />couN°rY of ) <br />Before mc, a notary public qualified for said county, personally came <br />husband and wife, known to me tc be the <br />identical person& who signed the €oregoing instrument and acknowledged the <br />execution thereof to be Cheir voluntary set and dead. (~~ <br />Witness my hand and notarial seal on this -.-.-c~~_.°__.____ day of ~~ <br />tary I'ub` lir_ <br />tdy Commission Expires: ~~ ~~ ,~yiF <br />+r "`' W~," `v,~;w' <br />r".F 'y <br />