[Contract] Magic Spruce Log.

Discussion in 'Approved Contracts Archive' started by RealRichNixon, Feb 23, 2025.

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  1. RealRichNixon

    RealRichNixon Pres. Richard Nixon by day, GameAdmin by night.
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    IGN:
    @RealRichNixon

    Users Involved in this Contract:
    This contract involves @Mickus.

    Terms of the contract:
    1. The purpose of this contract is to facilitate a payment plan of the L1 Magic Spruce Log Item (#M7IKRDH7) for $6,000,000.00.

    2. @Mickus is responsible for paying six payments every week of $1,000,000.00 ECD at /tppos -4061 63 9214.

    @RealRichNixon is responsible for giving (via /trade) the item to @Mickus upon approval of the contract.

    3. Late fees will follow the following regime: For every 24 hours that a payment is late, @Mickus is required to pay an additional $100,000.00, up until late fees accrue to $500,000.00. In the event that this occurs, @RealRichNixon may file a complaint via the forums regarding a breach of contract.

    4. Payments will be due every seven days at 11:59 PM EST, and the following plan is to be followed:

    Payment #1 -- $1,000,000.00 -- Sunday, March 2, 2025
    Payment #2 -- $1,000,000.00 -- Sunday, March 9, 2025
    Payment #3 -- $1,000,000.00 -- Sunday, March 16, 2025
    Payment #4 -- $1,000,000.00 -- Sunday, March 23, 2025
    Payment #5 -- $1,000,000.00 -- Sunday, March 30, 2025
    Payment #6 -- $1,000,000.00 -- Sunday, April 6, 2025

    5. @Mickus is free to make payments before a due date. For example, if @Mickus has made a $1,000,000.00 payment on March 2, 2025 and would like to pay down another $1,000,000.00, @Mickus may do so. In this event, @Mickus will not have to make a payment for the next deadline -- March 9, 2025. They will however be responsible for coming up for another $1,000,000.00 for March 16, 2025.

    6. In regards to ownership, @RealRichNixon will retain ownership of the Magic Spruce Log Item (#M7IKRDH7), while @Mickus pays off the item. Once all payments have been made, @RealRichNixon is to transfer ownership within a week of the final payment's due date. Should the items not be transferred within such a time window, @Mickus may file a (staff) complaint citing a breach of this contract.

    I (the contract initiator) agree to the terms listed above:
    I, @RealRichNixon, agree to the terms of this contract.
     
    #1 RealRichNixon, Feb 23, 2025
    Last edited: Feb 23, 2025
  2. Mickus

    Mickus President
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    I, @Mickus agree to the terms of this contract.
     
  3. KindaGoku

    KindaGoku President
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    Contract Approved!

    Please remember to take screenshot of all transactions!
     
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