Magic Rod Sale

IGN:
@Ancastal

Users Involved in this Contract:
@Ancastal, @FwgKing

General Purpose of Contract:
Safe sale of Magic Rod (ID #KF23RB2K)

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:

• To give @FwgKing the Magic Rod (ID #KF23RB2K) within 24 hours of receiving the non refundable 15,000,000 ECD down payment.
• To not attempt to reclaim this tool whilst @FwgKing is still paying for it, unless a breach of contract occurs.
• To agree that if @FwgKing misses a payment, the contract will remain valid however he will incur a 300,000 ECD late fee per week missed, for up to two weeks and I agree that any late fees will be paid on the week following the final payment.
• To give ‘/own’ership of the Magic Rod (ID #KF23RB2K) to @FwgKing once payments are complete.
• That @FwgKing remains the holder of the Magic Rod (ID #KF23RB2K) until the payment is complete or a breach of contract occurs and the tool is reclaimed.
• To give @FwgKing a single, one week break during the course of the 18 week period where he does not have to complete the payment on time, however this will extend the contract by an additional week if used. (This clause has been added to provide the other side of the party with a weeks grace in case of any issues in real life).
• To agree that if payments are not complete and a breach of contract occurs, @Ancastal reserves the right to reclaim the Magic Rod (ID #KF23RB2K) without any refunds for what has been paid towards the ownership of it. To also agree, that if the Magic Rod (ID #KF23RB2K) is successfully reclaimed after a breach of contract, @Ancastal can not file a user complaint against @FwgKing for this.
• To agree that @FwgKing may rent this tool to fellow members of the server in order to aid his payments, however, he must firstly ensure that this user has automatic enchanted repairs, tombstone.

The other user(s) involved with this contract must agree to the following terms:

• To pay 15,000,000 ECD to @Ancastal within 24 hours of the contract being accepted.
• To pay a total of 3,000,000 ECD per week for 18 consecutive weeks totaling 54,000,000 ECD to Ancastal's Forum bank account on each Tuesday by 11:59 UTC starting on Tuesday November 10th, 2020.
• For each payment missed a late fee of 300,000 ECD will be added to the total of the Magic Rod (ID #KF23RB2K) with a limit of up to 600,000 ECD.
• If more than 2 payments are missed, then @Ancastal has the right to reclaim the Magic Rod (ID #KF23RB2K) from @FwgKing, if an agreement can not be met.
• Failure to complete payment will result in a breach of contract and @Ancastal retains the right to reclaim the Magic Rod (ID #KF23RB2K) from @FwgKing.
• To provide notice to @Ancastal 48 hours prior to the payment being due, if the single week break is going to be used by @FwgKing.
• If the Magic Rod (ID #KF23RB2K) is lost (e.g., lava) or broken then @FwgKing is still responsible for completing the payments regardless.
• If the Magic Rod (ID #KF23RB2K) is rented out to fellow members of the server, @FwgKing must ensure that this user has automatic enchanted repairs, tombstone.

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, @Ancastal agree.