Flat purchase may not be completed within stipulated time, advance/earnest money can be refunded.

I have signed an agreement for buying a flat in kolkata.cost 50 lac. As per the sale agreement which was executed on 28th oct 2020 the following points are mentioned. 1. The purchaser will pay the due amount after deducting the agreement amount On and as 31st Jan 2021. 2. If any dispute arises it shall be settled mutually between the parties and no third party intervention is accepted in this matter. 3. If the purchaser shall Fail to comply with the terms and conditions of the agreement The owner Will bound to pay the earnest money After deducting 1% of consideration money And the owner will be a liberty to resale the property. 4. If the owner Fail or neglects to complete the sale or otherwise carry out one or more Of the obligations on his part as hereinbefore Mentioned Or otherwise Required by law, the purchaser will be at liberty to enforce Specific performance of agreement by institution of legal proceedings or it his option may sue the owner for recovery of the advance money with interest 1% PA cost and other reliefs. Now, my question is that: 1. If we fail to get the flat then the advance money will be forfeited? 2. If we can't pay the full amount within the time limit mentioned in the agreement can owner forfeited the advance money? 3. If we fail to purchased a flat with any reason can owner entitled to forfeited the advance money. Please advice