1. The defendant shall receive KRW 214,00,000 from the plaintiff, and at the same time real estate stated in the attached Table to the plaintiff.

1. Facts of recognition;

A. The Plaintiff is a reconstruction improvement project association established to remove 17 A apartment units in the Seoul Special Metropolitan City, Gwanak-gu and 5 lots (hereinafter “instant rearrangement zone”) and reconstruct the apartment units on its ground (hereinafter “instant reconstruction project”).

B. On May 18, 1995, the Plaintiff Union completed the registration of incorporation of the reconstruction project partnership on November 16, 2005 after obtaining authorization for the establishment of the housing association from the head of Gwanak-gu Office.

C. The Defendant, as the owner of the real estate listed in the attached list in the instant rearrangement zone (hereinafter “instant real estate”), became a partner with the consent to establish the Plaintiff’s association.

Plaintiff

On October 20, 2017, the association obtained the authorization for the implementation of the instant reconstruction project from the head of Gwanak-gu Office, and the authorization for the implementation of the project was publicly notified on the same day.

After that, on October 23, 2017, the Plaintiff Union announced the period for application for parcelling-out to the members from October 23, 2017 to November 21, 2017.

E. The defendant did not apply for parcelling-out to the plaintiff association until the period for applying for parcelling-out expires.

F. Article 42(4) of the Articles of Incorporation of the Plaintiff Union provides for the following:

(4) Where a member falls under any of the following subparagraphs, the association shall liquidate in cash the buildings and other rights within 150 days from the date on which the member falls under such cases:

The amount of the gold shall be calculated by calculating the arithmetic mean of the values appraised by at least two appraisal business entities recommended by the head of a Si/Gun.

1. An applicant for parcelling-out;

2. Persons who have withdrawn the application for parcelling-out;

3. Persons excluded from objects of parcelling-out under the authorized management and disposal plan.

G. As to the instant real estate, the registration of creation of the right to collateral security has been completed with respect to the instant real estate, 52,000,000 won with the maximum amount of debt, and the registration of establishment of the right to collateral security made by the debtor, the defendant, and the right to collateral security (D), and the market value of the instant real estate as of November 22, 2017 is KRW 266

[Grounds for recognition] A.1.