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79 ~'~~ SEVERANCE AGREEMENT {To a exedute y owners /and1 mortgagees )/ / -~-- ,~ ~ C! t ~ J Gi T'AY' ~ L-~ i ` v~~+~ ~i ~ ~Q 1 e Y WHEREAS ~ ,..a. husband and wife, have applied to The First National Bank of Grand Island Nebraska, for a ]oan for the purpose of purchasing a ' / y 75l ' % r ~~ ~ ~ K ,'~ ~ C-~ ~ T and are contemplating placing such mob~le home on a faunda ion on the following described rya//l estacte, )to-_w(it: ,s1/- cf:i~ ~,~ n~~`li f~.1 ,~'qD ~ v ,r7'~ d v rjC` f~ ~/~~S''0`-~ 'F ~'le {J .'~~~t~e, ~~'11 ~~U~ } /v cal` ~dS.L )1`~/ ~~hQ'^(~`J~ ~/ and ~~~. / have agreed to give to The First National Bank of Grard Island as s curity or such loan, a mortgage on and a security interest in such mobile home. NOW, THEREFORE, owners and mortgagees* of such real estate hereby covenant and agree that such mobile home, I. Shall remain severed from said real estate, and 2. Even if attached to the realty, shall retain its personal character,. shall be removable from the real estate; and shall be treated as personal property with respect to the rights of parties and shall not become a fixture or part of the real estate, and 3. Shall not be subject to the lien of any security transaction or instru- ment hewetofare or hereinafter arising against the aforesaid real estate upon which such mobile home is to be placed. until (a) the expiration of the lien of The First National Bartle of Grand Island, Nebraska, or any renewal thereof, and (b} until the repayment of said loan, It is further understood and agreed that if such mobile home is acquired by The First National Bank of Grand Island through foreclosure or other means, that such Mobile home shall, at the option of the Bank, be allowed to r,in fir: t~°c c ~~ descries rcc~l s3twt~ f$r a p~r'l i3d Vf flit to e~4cee~ din (v) ,tits after the d,-te rif r~R s3~3li5ition ~hereaf at na expense to T''.e rust Ma~fana~ dank oi~ Orand Island. IN WITNESS WHEREOF, the owners and mortgagees* have hereunto affixed the#r signatures this ~C~ day of _~ ~~- , I97,~. STATE (lF NEE/BRASKA l GQUNTY OF t'`~r4-I~ ~ 55: More me, a gatary public qualified for said county, personally came ~~u.`~'~ -~f ~• ~~~~ ~,.~~~ , husband and wife, knoem to me to be the identical persons wha signed the foregoing instrument and_ackn~rledged #.he execution thereof to be+~~~,F#aluntary aet and deed. Witness a4Y hand and notarial seal ~A of c * Delete the term not applicable f i~~;~~`~' (If mortgagee is a corporation, use a corporate acknowledgement.?