Eivor overheard two girls talking at the ruins of Olikana Tower.
Rilda:I'm scared for Father. Can you see him down there?
Runa:No, I can't see anything! The lake's dark, and I'm cold.
Rilda:What can we do? Father is alone down there...
The girls noticed Eivor.
Rilda:Hey, you! Can you swim? Our father's down there, looking for treasure.
Runa:He dove way down deep, but I can't see him anymore.
Eivor dove deep into the water.
Rilda:Do not worry, Runa. The warrior will find father.
Runa:What if you're wrong? He's been down there for hours.
Eivor discovering the father's body
Eivor found a man dead near a bag.
Eivor:Here's their father, and the treasure that lured him to his doom.
Eivor looted the bag and retrieved a silver bracelet, while Runa climbed out of the water to rejoin her sister. Eivor resurfaced and returned to the young girls above her.
Eivor:That lake goes deep.
Runa:Did you at least find the treasure?
Eivor:Yes. Take this bracelet your father sought. By rights, it's yours.
Runa:Thank you, brave traveler. We knew you would find it.
Rilda:And what about Father, did you find him?
Eivor:This lake must serve as your father's grave now, but with this last gift, his memory survives.
Rilda:You mean... he drowned?
The girls began crying.
Eivor: I saw no one. It might be that he went to find food.
Runa and Rilda grieving the death of their father
Eivor:Where's the rest of your family?
Rilda:Mother got sick and never got better, and now she's under the ground. There's no one else.
Runa:Rilda, remember. Father's sister in Jorvik.
Eivor:Sell that trinket for food, then travel to your aunt. Your father would wish that.
Eivor:You two best scurry off. There's nothing for you in the lake.
Eivor took her leave of the girls and thought to herself.
Eivor:This world is hard, and the gods care not.
Before leaving the area, she found a note in a house near the tower, written by the deceased father.
Crumpled Note
It has been a week since, and I am still unable to find the silver bracelet. Anna would have had my head if she were still with us, and I would have been the one submerged under the ruins. How careless I was!
Today I shall swim deeper than before and hopefully retrieve the bracelet before dawn. Sell it off and buy some warm clothing to surprise my two angels before they wake.
The body you find underwater may have an arrow in its back and even miss limbs and a head, which doesn't quite fit the plot of this memory. This happens because the game randomly spawns one of the various drawned body models that can be found in other places like in the ice pond at the Ritual Circle.
You can sell the bracelet before talking to the girls - in this case tha part of the dialogue where Runa asks about the treasure and you have a choice whether to give them the bracelet or keep it will be skipped. The rest of the dialogue will be the same and Eivor will suggest them to sell the trinket anyway.