The Adeptus Mechanicus Bank of Neoxian: daily contracts: 2019-04-08
The Bank of Neoxian shall loan the sum of 80 usd to Cheryldavis. Cheryldavis is @cheryl in whaleshares, @cheryldavis in Steem, and Cheryldavis#3404 in Discord. She promises to repay 90 usd. She shall pay 22.5 usd per month until 90 usd is reached. The first payment shall be May 9th, 2019.
The Bank shall pay 80 usd worth of Steem to @cheryldavis in Steem, price will be locked in at time of sending.
The money amounts are in terms of USD, but are transacted in Steem, Wls, or other crypto. The website coinmarketcap.com shall be used to determine the prices for purposes of payment. The Rudex exchange shall be used to determine the price of Wls for purposes of repayment.
Cheryldavis shall offer up her whaleshares account @cheryl for this loan.
Cheryldavis shall hereafter be known as the lendee…
To insure payment of this loan, the lendee promises to hand over their Owner key(s) to the bank. The bank will give back new active and posting keys to the lendee. The lendee affirms that the owner key(s) are given voluntarily and their account(s) are not stolen. They promise not to initiate the Stolen account recovery procedure.
The lendee agrees that if the Bank decides to change the active key(s) and keep them private, this does not constitute of breach of contract.
Lendee also consents to Bank changing the trustee if the Bank so chooses.
The Lendee promises not to power down the account(s) to the point where the collateral would be less than the owed value, or if it is necessary to powerdown to pay the loan, then the full powerdown should go to the bank.
Owner key(s) will be returned upon successful completion of loan.
Please sign below...
(pic from Warhammer40k)
I accept
@neoxian,
Congratz for the contract! But I don't know how that price locked concept might work! I think you better use SBD instead of STEEM or WLS while lending money!
Cheers~
I hereby witness this contract! Thanks @neoxian and congratulations 🎈🎊🍾🎉 to @cheryldavis.
Posted using Partiko iOS
Nice contract that will work out just fine.
Posted using Partiko Android
Excellent contracts once again congratulations !
You shall always be the bank of Steem. #SteemOnDude
Posted using Partiko iOS
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I just kind of stumbled on to this, a steem bank! very cool