IGN:
@myminecrafter01

Users Involved in this Contract:
@Harryhaz1

General Purpose of Contract:
Terms for a small loan of one million dollars.

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:
Pay @Harryhaz1 $1,000,000 within 24 hours of contract approval.

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

All dates/times are expressed in Australian Central Standard Time and in 24 hour format.
A new month will start on the first day of that month.
For the purpose of this contract, the first month will start on the 1st of September 2016.

Pay @myminecrafter01 8% of $1,000,000 ($80,000) interest per month, until the principle ($1,000,000) and the accumulated interest ($80,000 per month) has been paid.

Pay @myminecrafter01 a minimum of $200,000 per month towards repayment of the loan principle of $1,000,000.

This means @Harryhaz1 must pay @myminecrafter01 a minimum of 280k per month until the principle and any accumulated interest has been paid in full. The months minimum payment will be due before 23:59 on the last day of that month.
The loan and accumulated interest maybe paid of in full at any point. Monthly payments above the minimum are allowed.


If payed before 30th September 2016 23:59

• Total loan value - $1,080,000
• Total interest - $80,000
• Total minimum repayment due: $280,000

If payed fully paid after 30th September 2016 23:59 but before 31st October 2016 23:59

• Total loan value - $1,160,000
• Total interest - $160,000
• Total minimum repayment due: $560,000

If payed fully paid after 31st October 2016 23:59 but before 30th November 2016 23:59

• Total loan value - $1,240,000
• Total interest - $240,000
• Total minimum repayment due: $840,000

If payed fully paid after 30th November 2016 23:59 but before 31st December 2016 23:59

• Total loan value - $1,320,000
• Total interest - $320,000
• Total minimum repayment due: $1,120,000

If payed fully paid after 31st December 2016 23:59 but before 31st January 2017 23:59

• Total loan value - $1,400,000
• Total interest - $400,000
• Total minimum repayment due: $1,400,000

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