The Allottee shall make timely payments of the installment and other dues payable by him/her and meeting the other obligations under the Sale Agreement subject to the simultaneous completion of construction by the Company as provided in the Sale Agreement.
Provided that where the allottee proposes to cancel/withdraw from the project, the Company herein is entitled to forfeit the Booking amount (10% of the Consideration Amount) paid for the allotment. The balance amount of money paid by the Allottee (other than Taxes paid by the Allottee and/or stamp duty and registration charges incurred by the Allottee) shall be returned by the Company to the Allottee without interest. The Allottee shall prior to receipt of refund on the above account from the Company, at his own costs and expenses, execute all necessary cancellation related documents required by the Company.
All and/or any amounts collected by the Company as Taxes and deposited with the concerned authorities shall not be returned/refunded by the Company, and the Allottee shall be free to approach the authorities concerned for refund of such Taxes, and the Allottee covenant(s) and undertake(s) not to set up or raise or make or initiate any claim, demand, action etc. contrary to the aforesaid.
Notwithstanding with the non-execution of the Agreement of Cancellation, immediately on the issuance and/or acceptance/receipt of the termination notice by the Company, the Allottee shall cease to have any right or claim or demand under this Agreement and/or against the Company save and except receipt of refund, if any, and the Company shall stand released and discharged from all its obligations and liabilities under the Sale Agreement, and the Company shall be entitled to deal with the subject matter of this Agreement in such a manner as the Company may deem fit and proper.
It is unequivocally agreed and understood that upon termination or cancellation of the Sale Agreement, the Allottee shall execute a cancellation agreement for the same and register the same with the Registering Authority, as and when intimated by the Company, at the cost and expense of the Allottee.