[Contract] Sale of an E7 Pickaxe

IGN:
David_Torento
Users Involved in this Contract:
georgie0417
General Purpose of Contract:
Sale of my E7 pick "CoalMiner4Life" to Georgie0417 in return for 500k Down and 30k within 3 days (1/20/14)
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 will give the E7 to Georgie in a shared chest once he pays the original 500k
I will also have a sign set up on my "Wall of Debt" in order for georgie0417 to make payments on the 30k.
The other user(s) involved with this contract must agree to the following terms:
Georgie0417 will pay me 500k before I put it in a shared chest, then he will pay 30k within 3 days (1/20/14)
Georgie0417 will not put any tickets into the lottery until after paying the 30k.
If Georgie0417 does not pay by (1/20/14) 11:59pm EST he will owe an additional 10k/day until he pays the total cost. (10 gravel will be added to the sign at 12:00am EST starting at 12:00am EST (1/21/14)
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, I agree.
georgie0417 Please agree using this format:
IGN:
<your in-game name.>
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:
<Agreement to the terms laid out in the contract post, yes or no.>