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1. Defendant C Co., Ltd. shall pay to the Plaintiff KRW 22,527,240 as well as its annual interest from October 17, 2018 to March 31, 2020.
Reasons
1. Basic facts
A. Defendant C Co., Ltd. (hereinafter “Defendant C”) is a company that newly constructs and sells E hotel (hereinafter “instant hotel”) to be constructed in Jeju Island, and Defendant B Co., Ltd. (hereinafter “Defendant B”) concluded a trust agreement with Defendant C for the management of sale in lots and the management of funds including proceeds from sale in lots.
Article 2 (Cancellation of Contracts) (3) "B" (Plaintiffs) may cancel this contract where it is impossible to move into within six months from the scheduled date of entry due to any cause attributable to "A" (Defendant C).
Article 3 (Penalty) (2) When this contract is terminated for reasons falling under Article 2(3), "A" shall pay "B" 10% of the total amount of supply as penalty.
Article 15 (Interest-Free Loan Agreements) "A" shall, where part of the proceeds of sale in lots is arranged for a financial institution to grant a loan to the financial institution and "B" applies for an intermediate payment, handle it in accordance with the following provisions, and all responsibilities incurred by failure to comply therewith shall be borne by "B":
(1) "B" shall delegate an intermediate payment loan financial institution requested to grant a loan to the designated account prescribed in Article 1 (1) of this Agreement, and shall apply for a loan to a financial institution designated by "A" within seven days from the date of separate notice of "A".
The term "B" shall be paid at the expense of "B" in cases where the part payment loan is not applied or the amount of loan application is less than the amount of the part payment loan agreement.
(2) The interest on an installment payment-free loan agreement shall be paid by "A" before the first day of the designation date of occupancy, and the interest on the first day of the designation date of occupancy shall be paid by "B".
When a loan against security is converted pursuant to Article 6 (4), "B" shall be paid for interest.
(3) “A” shall be “A”.