Haha , good luck getting that contract .
If an arrangement reads like a list of reasons why they don't have to pay, particularly with things that aren't under my control like completion dates, I'd rather not be involved. It's a red flag that says the only way you'll get a check is when a court orders them to write one, assuming they haven't funneled all the money elsewhere by that point so they can claim bankruptcy. I'm not interested in playing someone's shell game.
I don't even extend credit to new clients since I see no upside to putting myself over a barrel for the privilege of financing someone else's project. Even if someone seems like they're going to be a bit difficult, or expects me to jump through a hoop or two to win a job, I bail. These are reasons why I'm small potatoes and will remain so, but if my gut doesn't like it I'm down the road.
Playing by someone else's rules, slanted to favor them, is a losing proposition. Do shit on your terms or not at all.