How much are the penalties and interests for missed payments?

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How much are the penalties and interests for missed payments?

As per Contract to Sell – the accrued penalty & interest of 3% per installment per month or a fraction of month from the date of default until fully paid.

Reference: Contract to Sell Section 2.D

d. All payments shall be made on or before the respective due dates without necessity of any notice or demand thereof. Failure of the BUYER to pay any installment on its due dates shall make the total unpaid balance of the purchase price immediately due, payable and defaulted and shall entitle the DEVELOPER at its own option, (1) to demand full payment of the total principal sum then remaining unpaid, together with accrued penalty/interest of three (3%) percent per installment per month or a fraction of a month (i.e. one or two days delay in payment from due date shall also merit same amount of penalty) from date of default until fully paid, or (2) to cancel this Contract subject to Paragraph 3 hereof;
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