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1. The plaintiff's claims against the defendants are all dismissed.
2. The costs of lawsuit shall be borne by the Plaintiff.
Reasons
Basic facts are: (a) the KC Industry Development Co., Ltd. (hereinafter “KC Industry Development”) carried out a new construction project with the size of 2 underground and 11th floor above the ground (hereinafter “instant project”); (b) on September 30, 2005, the KF Real Estate Trust Co., Ltd. (hereinafter “Defendant trust Co., Ltd”) entered into a real estate security trust agreement (hereinafter “instant trust agreement”) with the following contents on the ground (hereinafter “instant trust agreement”).
Truster, debtor and beneficiary: Trust real estate of the Defendant trust company: The purpose of the trustee is to preserve and manage the trust real estate and to liquidate it when the trustee fails to perform his/her obligations or responsibilities, in order to guarantee the management of the ownership of the trust real estate and the performance of obligations or responsibilities owed by the truster. The trustee is to preserve and manage the trust real estate and to liquidate it when the trustee fails to perform his/her obligations.
Trust Period: From September 30, 2005 to September 29, 2008, the first joint beneficiary and the amount of the certificate of beneficial rights: The first joint beneficiary: Ansan City Branch of the Agricultural Cooperatives Federation; the Seoul Agricultural Disaster Prevention Branch of KRW 2.60 million; the second order: the new mutual savings bank, the new mutual savings bank, the 5.72 billion won (special agreement) special agreement shall prevail over this contract.
Article 3 (Termination of Trust) Where the recovery of certificates of beneficial rights is delayed due to the default of debts under a credit transaction agreement between the debtor and the preferential beneficiary despite the expiration of the trust term, the trust shall not be terminated until the said certificates of beneficial rights are recovered.
Where a truster constructs or expands a building on the trusted real estate under this trust contract, he/she shall immediately make an additional trust to the trustee of the relevant real estate immediately after the completion thereof.
Article 7 (Liability and Special Contract for Building on Ground)