1. The Plaintiff’s obligation to the Defendant regarding the construction contract between the Plaintiff and the Defendant on April 25, 2012.

Basic Facts

On April 25, 2012, the Plaintiff and the Defendant entered into a construction contract that “The Defendant shall build a multi-household house (hereinafter “instant building”) on the ground of the land listed in Paragraph (2) of the Disposition, which is owned by the Plaintiff (hereinafter “instant land”). The Plaintiff shall pay the Defendant KRW 719,200,000 at the cost of construction.”

(hereinafter “instant contract”). The date of commencement of the instant contract: Within seven days from the date of the contract

4. Date scheduled for completion: October 15, 2012 (Provided, That the period of time is a natural disaster, a natural disaster, and an extended period of time).

5. Contract amount: 719,200,000 won (including value-added tax);

6. The payment of construction cost;

(a) 288,00,000 won (40%) at the time of a contract;

(b) part payments of KRW 288,000,00 (40 per cent, when the frame of above ground floor is completed);

(c) Balance 143,200,000 won (20%, and at the time of completion inspection);

7. Items and number of materials for payment: The bill of quantity shall prevail;

8. The rate of liquidated damages: 311/1000 for the unbuilt portion per day; Other matters: The remaining amount shall be adjusted at the time of subsequent payment, if there is any change in the contract.

Article 7 (Assignment of On-Site Agent) (1) Before the commencement of the construction work, the defendant shall assign a construction engineer corresponding to the principal type of the construction work to the site as prescribed by the Framework Act on the Construction Industry, and appoint one of them as the on-site agent, and notify the plaintiff.

(2) Except as otherwise provided for in Acts and subordinate statutes or where the plaintiff consents thereto, an on-site agent referred to in paragraph (1) shall stay at a site and act for the defendant with respect to all matters concerning execution, and shall take charge of the execution management

Article 10 (Advance Payment) (1) The plaintiff shall pay the advance payment to the defendant in accordance with the terms and conditions set forth in the contract, and the defendant shall submit a certificate of guarantee issued by a guarantee agency under each subparagraph of Article 4 (2)

Article 22 (Payment of Costs of Construction Works) (1) If the defendant specifies on the contract the payment of cost of construction works, he shall inspect the completed portion thereof.