A. The National Bank of Korea extended a loan of KRW 3.1 million to B on June 2003, and as B did not repay the loan, it lost the benefit of time on November 30, 2004.

B. On May 20, 2004, the National Bank of the Bank of Korea (hereinafter “The Bank of Korea”) has transferred its loan bonds to B to the Promotion Savings Bank, and the Promotion Savings Bank has transferred it to the Plaintiff respectively on June 15, 2011.

C. B entered into a mortgage contract with the defendant on July 30, 2005 on each real estate listed in the separate sheet, and completed the registration of each establishment of a mortgage in the name of the defendant as of the Daejeon District Court No. 22657 on August 16, 2005 as to the real estate listed in the separate sheet No. 2, 2657 on August 16, 2005, Cheongju District Court and as of the real estate listed in the separate sheet No. 60360 on August 17, 2005.

Since ten years have passed from July 30, 2005, the due date for the secured debt of the defendant, the expiration of the prescription period on July 30, 2015, each of the above secured debt should be cancelled following the extinction of the secured debt, and the plaintiff, as the creditor of B, seek the cancellation of the registration of the establishment of each of the above secured debt in subrogation of B.

E. Therefore, the Defendant ought to implement the registration procedure for cancellation of the registration of the establishment of a neighboring mortgage on July 30, 2015 with respect to the registration of the establishment of a new collateral on the ground of the extinguishment of the secured debt on July 30, 2015, which was completed by the Daejeon District Court of Daejeon on August 16, 2005 as the receipt of No. 22657 on August 16, 2005 with respect to the real estate listed in the attached list No. 2 and No. 60360 on August 17, 2005.

2. Judgment made in the constructive confession (Articles 208 (3) 2 and 150 (3) of the Civil Procedure Act);