The Bank of Neoxian shall loan the sum of 160 usd to @marshalllife. He promises to repay 184 usd. He shall pay 61.33 usd per month until 184 usd. Also the account shall be powering down to the Bank and these payments will be applied against the loan and count towards the monthly payments.
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.
@marshalllife 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.
The Lendee agrees this contract remains valid regardless of any flags this contract post might receive.
Owner key(s) will be returned upon successful completion of loan.
Please sign below..
(pic from https://2.bp.blogspot.com)
