Project Payment Schedule

Prepared by: [Your Name]

Introduction:

This Project Payment Schedule outlines the financial milestones and payment terms for the Green Meadows Residential Development project. It provides clarity and transparency regarding the timing and amount of payments throughout the construction phases of Phase 1 - Single-Family Homes.

Project Information:

Project Name: Green Meadows Residential Development
Project Address: 1234 Elm Street, Houston, Texas
Project Phase: Phase 1 - Single-Family Homes

Payment Milestones:

Milestone 1: Foundation Completed

Date: January 1, 2051
Payment Amount: $50,000
Details: Payment upon successful completion and inspection of foundation work.

Milestone 2: Framing Finished

Date: March 15, 2051
Payment Amount: $100,000
Details: Payment upon completion of framing for all homes in Phase 1.

Milestone 3: Exterior Enclosed

Date: May 30, 2051
Payment Amount: $150,000
Details: Payment upon completion of roofing, windows, and doors installation.

Milestone 4: Mechanical Rough-Ins Completed

Date: August 15, 2051
Payment Amount: $120,000
Details: Payment after completion of HVAC, plumbing, and electrical rough-ins.

Milestone 5: Interior Finishes Commenced

Date: October 1, 2051
Payment Amount: $80,000
Details: Payment upon start of interior finishes such as drywall, flooring, and cabinetry.

Milestone 6: Final Exterior Landscaping

Date: November 15, 2051
Payment Amount: $70,000
Details: Payment after completion of exterior landscaping including grading and planting.

Milestone 7: Final Interior Fixtures Installed

Date: December 15, 2051
Payment Amount: $90,000
Details: Payment upon installation of all interior fixtures and appliances.

Milestone 8: Final Inspections Passed

Date: February 1, 2052
Payment Amount: $180,000
Details: Payment after successful completion of final inspections and issuance of occupancy permits.

Milestone 9: Client Walkthrough and Punch List Completion

Date: March 15, 2052
Payment Amount: $60,000
Details: Payment after completion of client walkthrough and addressing any punch list items.

Milestone 10: Final Completion and Handover

Date: April 30, 2052
Payment Amount: $200,000
Details: Final payment upon completion of all remaining tasks, final documentation, and handover of keys to homeowners.

Terms and Conditions:

All payments are subject to approval of completed work by [Your Company Name] project manager.
Payments are disbursed within 15 days of milestone completion.

Contact Information:

[Your Company Name]
[Your Company Address]
[Your Company Email]
[Your Company Website]
[Your Company Social Media]