(1) I/we am/are making this Application being fully aware of the fact, that it shall not be open to me to seek cancellation of said Provisional Reservation and seek refund of provisional allotment Money. However, if due to any reason whatsoever attributable to me/us including but not limited to:
a.) Non-compliance of the terms and conditions of this application or agreement for sale; or
b.) Failing to sign Agreement for Sale within 30 days from the date of intimation by the Company to execute the same; or
c.) On making application for cancellation of this application then in that eventually it shall be open for the Company to forfeit the monies equivalent to Earnest money towards the cancellation of the Application Form and Provisional Allotment and thereupon the Company shall be free to resell the same merely upon intimation to terminate the booking without even making the payment of the balance refund.
d.) The refund shall be subject to resale and receivable from the resale of the said unit by the Company.
(2) In case the Applicant(s) withdraws or surrenders his application for the allotment, for any reason whatsoever, at any point of time, then the builder shall be entitled to forfeit the amounts paid/deposited up to earnest money along with interest due/payable, taxes payable or paid and may refund the balance amount to applicant(s), if applicable, as per prevailing cancellation policy of the builder after 45 to 90 days vide cheque without any interest or compensation whatsoever after the unit allotted to some other intending applicant(s).
(3) Timely payment of installments of basic sale price and allied charges pertaining to the unit is the essence of the terms of the booking/allotment. In the event of breach of any of the terms and conditions of the booking form including payment terms by the applicant(s), the allotment will be cancelled at the discretion of the builder and the earnest money together with any interest on installments due but unpaid and interest on delayed payments shall stand forfeited. The balance amount shall be refundable to the applicant(s) without any interest, after the said unit is allotted to some other intending applicant(s) and after compliance of certain formalities by the applicant(s). The builder, however, in its absolute discretion may condone the delay by charging penal interest as per RERA Rules (Real Estate Regulatory Authority) or Lending rate of SBI plus 2% should be penalized.