Eff7 Sale to @Poey72

IGN:
@DiamondDesire
Users Involved in this Contract:
@poey72
General Purpose of Contract:
Saftey of selling Eff7 pickaxe on a payment plan to @poey72 ID: #IKFX2WVT

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 @DiamondDesire agrees to give @poey72 my Efficiency 7 pickaxe ID: #IKFX2WVT within one hour of this contracts approval.
• I @DiamondDesire also agrees to transfer ownership of this pickaxe once the payment plan has finished and fully payed off.

The other user(s) involved with this contract must agree to the following terms:
@poey72 agrees to pay me 200k upfront within 24 hours of this contract approval. On top of this @poey72 will pay me 200k per week for 5 weeks. Total amount of payment including upfront money is 1.2mil. Signs will be set up at /warp anime in legacy X: -4273 Y: 110 Z:3127.

@poey72 agrees that if he is banned for more then a month then @DiamondDesire can re-claim this tool without refund as well as if his ban is related to this contract then I can also reclaim this tool with no refund. (In this case he has broken the contract)

@poey72 agrees that he will /mail diamonddesire in game if he has any problems paying on a weekly payment within 2 days before the due payment as well as /mail DiamondDesire when he has made a payment.

@poey72 agrees that if he looses or breaks the pickaxe at any point during the payment plan, he will continue on the plan that has been scheduled.

@poey72 is not allowed to resell or rent out the pickaxe until the pickaxe has been paid off and /owned to him.

@poey72 agrees that if late will pay 10k per day fee. This will only happen on the last weeks payment. (In this case will start after the 16/03/16 and run till 23/03/16 until a complaint is filed and staff will take appropriate action.

Agrees to pay on these dates:

Upfront Payment - Within 24 hours of the contract approval - 200k
First week of payment - 17/2/16 - 200k
Second week of payment - 24/2/16 - 200k
Third week of payment - 2/3/16 - 200k
Fourth week of payment - 9/3/16 - 200k
Fifth week of payment - 16/3/16 - 200k

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