Hi Dhrupa,
The default limits are 10 attempts and 20 seconds intervals, so using anything above the default limit will cause the default limits to override the limits you entered, hence you will see a message like the one you mentioned. These limits can be found in Administration -> Account Preferences -> Timeouts. More information is found on this page.
But since you are using only 1 second as interval, you can use up to 20 seconds and therefore your test will verify the element 10 attempts and each attempt will take 20 seconds up until the element is visible. Please let us know if this works.
Regards,
Subject7 Team