Safe Sharing of an Eff7

IGN:
@BlazeCool
Users Involved in this Contract:
@DrowningInPizza @BlazeCool
General Purpose of Contract:
Safe, secure sharing of an Efficiency 7 pickaxe
Named: Obble's Bae
https://gyazo.com/72e390491fa4c145da112edcddc030b2

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, @BlazeCool agree that for the next 3 weeks, I @BlazeCool will pay $150,000 and by the end of the 4th week, I will pay $100,000 amounting to $550,000 total. Within 24 hours of recieving the final payment, I will have complete access to the efficiency 7 pickaxe as well as @DrowningInPizza. Whenever I am logging off, I will put the pickaxe in a designated chest in a designated room at /warp underland.
The payments will be made by midnight MDT on the following days:
Payment 1 (150k): Saturday, July 16th
Payment 2 (150k): Saturday, July 23rd
Payment 3 (150k): Saturday, July 30th
Payment 4 (100k): Saturday, August 6th
I, @BlazeCool will put these payments into a designated sign at /warp underland. The coordinates of the sign & chest are: X,Y,Z (-6172, 64, 3835)
I, @BlazeCool agree that @DrowningInPizza will remain on the /own for this tool.
The other user(s) involved with this contract must agree to the following terms:
Within 24 hours of recieving the final payment, @DrowningInPizza will pick a designated chest in which both of us will have complete access to the efficiency 7 pickaxe . Whenever either of us are logging off, we will put the pickaxe in a designated chest in a designated room at /warp Underland. If either I, or @DrowningInPizza breaks the pick axe, the person responsible for the loss/broken pickaxe will need to replace it within 3 months. Finally, if I go inactive for 3 months+ the pickaxe goes back to being solely @DrowningInPizza's pickaxe.

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, @BlazeCool agree.

 

Edited