[Contract] $240,000 Loan

IGN:
@obblebobble

Users Involved in this Contract:
@AlkanGains

General Purpose of Contract:
To safely loan $240,000 ECD to @AlkanGains with collateral in place.

I (the contract initiator) agree to the following terms, and agree that my failure to complete such terms will result in a breach of contract, as outlined in Rule 3:
- I agree to pay @AlkanGains $240,000 ECD within 24 hours of this contract being approved.
- I agree to keep @AlkanGains under the LWC permission of the 2 doublechests located at -9080, 63, -95 and will not remove him unless he breaches his contract. One chest contains 3456 emeralds, and the other contains 1097 emeralds. This is a total of 4553 emeralds across both chests to be used as collateral in the terms stated further down.
- I agree to not intentionally move, add, remove or otherwise alter the contents of the two double chests which will contain emeralds, unless @AlkanGains breaches his contract. At which point, I can take all contents of the chest.
- I agree to provide easy access to trade signs so @AlkanGains can repay the loan per week while I am offline, this includes late fees. They are located to the left of the above stated chests.

The other user(s) involved with this contract must agree to the following terms:
@AlkanGains must:
- Re-pay $300,000 ECD over 5 weeks. This will be paid weekly at $60,000 a week for 5 weeks. With the first payment being due on the 19th of December to flow well with the town sale/loan in another contract. This should be paid to the trade signs marked to the left of the 2 double chests.
- Payments due on the following days:
19th December (60,000)
26th December (60,000)
2nd January (60,000)
9th January (60,000)
16th Janary (60,000)
- If a payment is not paid on the due date, and is instead paid the day after or later then late fees of $20,000 per week will be applied. This gives a maximum late fee total of $100,000 assuming every payment is late.
- If a payment is more than 2 weeks late then @obblebobble may take all of the emeralds in the chests stated above as collateral.
- If a payment is more than 3 weeks late (1 week after the emeralds collateral) then the ownership of the 3 towns - Uno, Pumpkinville, and Forrestville will once again belong to @obblebobble while the debt must still be paid off.
- Not remove or alter any of the chest contents (the 2 dchests stated above) until the full loan is paid off. Intentionally modifying the contents will immediately double all payments due.
- Agree that when the emeralds and/or town is reclaimed due to late payments, that the initial loan repayments of $300,000 total must still be paid (Plus applicable late fees).

I agree that the terms in this contract are subject to all of EcoCityCraft's rules, including the rules listed specifically in this forum. I understand that the contract may be affected by future changes in EcoCityCraft rules and server updates, and I accept that due to the possibility of such changes, this contract may be at my own risk. I understand that the contents of this contract are subject to staff assessment, review and approval before it is a binding contract under EcoCityCraft rules. I accept that action may not be taken in case of a breach of contract if appropriate and sufficient evidence is not provided of such.:
I agree, yes.

 

IGN:

I, as another party to this contract, agree to the terms laid out for me to uphold, and understand that failure to complete such terms will result in a breach of contract: