Meaning of clause in letter of the allotmnet

pooja dedhia (Querist) 14 May 2012 This query is : Resolved
If you fail to pay the agreed installments of the Sale Price on or before the respective due dates, a 7 (seven) days notice shall be given to you, within which you shall be required to pay the stipulated amount with interest @ 24% per annum. In the event, if you fail to make such payment, then this allotment letter shall stand terminated and the earnest money of Rs. 3,20,000/- (Rupees Thirty Two Lakhs Twenty Thousand Only), as referred in clause 3.A.(i) hereinabove shall stand forfeited and you shall be liable to reimburse the expenses incurred by us.

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Shonee Kapoor (Expert) 14 May 2012
What is the query?

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

Shonee Kapoor (Expert) 14 May 2012
You would forfeit the amount deposited.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

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