A. On July 11, 2007, the Plaintiff (hereinafter referred to as the “instant golf course business”) who purchased the land of the Jeonnnam-gun B, and agreed to establish a golf course (hereinafter referred to as the “instant agreement”) entered into an agreement with C on the following terms (hereinafter referred to as the “instant agreement”) between C and C to entrust the Defendant with the purchase of the instant project site:

Article 4 (Obligation of Plaintiff)

A. A is obligated to pay the purchase price under a purchase agreement entered into by B (C) pursuant to Article 3.

(b) A shall pay the remainder of the total amount calculated at the rate of KRW 15,00 per square meter of the total project site (excluding the portion of land expropriation and the portion of the access road site) excluding the down payment, intermediate payment, remainder and other actual expenses input until the completion of purchase of the land as remuneration for the implementation of an agreement.

In addition, the principle of the payment of remuneration for the implementation of the agreement to B is the time the authorization and permission of the project of this case is completed.

Provided, That part of the authorization may be paid in advance through mutual consultation between the time the authorization and permission is applied and before the completion of the authorization and permission.

Article 5 (No. 55,170 square meters) concerning the land owned by the Defendant, included in the project site, will enter into a sales contract to the same effect as the land provided for in Article 3 immediately after the preparation of this Convention.

§ 6. As to the land contracted by the transferee corporation

(a) Land B for which a purchase contract has been concluded under the name of a stock company included in the business site (Article 124,460 square meters) shall be registered for transfer of ownership in the name of A at the same time as an intermediate payment and balance under the said purchase contract;

B. If B wishes to establish a right to collateral security when a transfer of ownership is made under the name of A for land for which a purchase contract was concluded under the name of A, A must comply with it.

The maximum debt amount of the right to collateral security has been set up.