1. All appeals filed by the plaintiffs are dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

The purport of the claim and appeal is the purport of the appeal.

1. The reasons for the court’s explanation concerning this case are as stated in the reasoning of the judgment of the court of first instance, except where the pertinent parts of the judgment of the court of first instance are dismissed or added as follows, and “additional determination matters” are added, and therefore, they are cited in accordance with the main sentence of Article 420 of the Civil Procedure Act.

Under the fourth page, the part of the "(1)" from the fifth parallel to the third parallel shall be modified as follows:

(1) The cash settlement amount calculated by the Defendant was calculated by calculating the arithmetic mean of the two appraisal results unfairly evaluated on the grounds as follows. There is no validity of payment deposits made according to the amount so calculated, and the Defendant shall pay the Plaintiffs the settlement money in cash, including the development gains duly calculated at the time when they become cash clearing agents. The portion of the “(e)” of the 5th page 13 through 15 is written as follows.

(E) As a result of the assessment of the value of assets based on the instant management and disposition plan, the Plaintiffs’ asset value was remarkably lower than the previous asset value on or around 2005, and the gratuitous equity ratio to calculate the cash settlement amount under the said management and disposition plan reflects the total revenue of the instant project (the total appraised value of the reconstructed building after development). However, the Defendant unfairly reduced the cash settlement amount to be paid to the persons subject to cash settlement by arbitrarily lowering the equity ratio. Therefore, the content of the instant management and disposition plan is unreasonable by infringing on equity among the members of the association, and it is also inappropriate to calculate the new cash settlement amount, and thus, it is necessary to calculate the new cash settlement amount. (See the last 7th e.g., the first e., the second e., the second e.