[Contract] Eff 7 payment plan

IGN:
@zr2002

Users Involved in this Contract:
@zr2002 @THCOOL

General Purpose of Contract:
For @THCOOL to sell his eff 7 pickaxe on a payment plan to @zr2002

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:
@zr2002 agrees to make the following payments of $100,000 ECD each located in the town of "thebathroom" set up by @THCOOL that totals up to $1,000,000 ECD
December 19, 2015 at 11:59PM EST
December 26th, 2015 at 11:59PM EST
January 2nd, 2016 at 11:59PM EST
January 9th, 2016 at 11:59PM EST
January 16th, 2016 at 11:59PM EST
January 23rd, 2016 at 11:59PM EST
January 30th, 2016 at 11:59PM EST
February 6th, 2016 at 11:59PM EST
February 13th, 2016 at 11:59PM EST
February 20th, 2016 at 11:59PM EST

@zr2002 agrees that if the tool is lost/stolen/broken @zr2002 must continue to make the payments.
@zr2002 agrees that for every day late, he will pay an extra $5,000 ECD per day, up to 1 week, and at that point @THCOOL can file a complaint which will result in breach of contract.
The other user(s) involved with this contract must agree to the following terms:
@THCOOL agrees to give an efficiency VII, unbreaking III, and silk touch I pickaxe with the ID of #II3NSA5Z to @zr2002 within 10 minutes of this contracts approval. @THCOOL agrees to set up a sign that goes by increments of $100,000 in the town of "thebathroom" for @zr2002 to pay the weekly fee and give a tp to @zr2002 so he can set a home.
@THCOOL agrees to transfer the /own of the pickaxe to @zr2002 after the final payment (February 20th, 2016) using this method: /own zr2002

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.:
Yes