Safety of sale of an EFF7

IGN:
@DiamondDesire

Users Involved in this Contract:
@JimmyZ0811
@DiamondDesire
General Purpose of Contract:
Safe sale of an Efficiency 7, ID Number: #II12N6BD on a payment plan and removal of previously owed debt.

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 @JimmyZ0811 my Efficiency 7 pickaxe named Block Smasher within 24 hours of this contracts approval.
• I @DiamondDesire also agrees to transfer ownership of this pickaxe once the payment plan has finished and fully played off.

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

• @JimmyZ0811 agrees to remove a total of 650k worth of debt. 400k of this debt stems from the contract seen here and an updated version here The other 250k owed is through an in game agreement made with @JimmyZ0811
• @JimmyZ0811 agrees to pay 130k every Monday for the next 4 weeks totaling to 650k by the end of the payment plan, (This 650k does not include any late fees)
• @JimmyZ0811 is not allowed to resell or rent the pickaxe until the pickaxe has been paid off and /owned to him
• @JimmyZ0811 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.
• @JimmyZ0811 also agrees that if he is banned while in possession of the pick, @DiamondDesire reserves the right to have the pick reclaimed without refund.
• @JimmyZ0811 agrees that he will be charged 10k per day for every day he is late on the payment plan. These late fees will only be incurred after the final payment plan end date of 29/2/16 . He will be allowed 7 days after this day to pay any remaining debts meaning that the maximum late fee he may occur is 70k. If he has not paid off the pick after this 7 day period ending on 29/2/16, a complaint will be filed and the staff team will take any necessary action.

Payment Due Dates:
1/2/16-130k
8/2/16-130k
15/2/16-130k
22/2/16-130k
29/2/16 - 130k

Payments are every Monday and must be paid by 7pm GMT

Sign is located at /warp anime in legacy. Cords: x: -4271 y: 110 z: 3127

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