Paragon Real Estate, Gabrovo, Sq. Vazrajdane №5, Email: Phone: +359  889  507 112

All analysis, hypotheses and conclusions that are used in this Valuation Report are subject to CVM 230 "rights in immovable property" and ISA 310, "Evaluation of immovable property rights to secure loans." Common standards for evaluation are subject to IVS 101 Scope of assessment, ISA 102 and ISA 103 Production Reporting.

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