Real Estate Evaluation ReportName of Project: Entrusting Party: Appraisaling Institution: Appraisers: Appraisal Working Date: Appraisal Report No.: Content1. Letter to the Entrusting Party2. Statement by the appraisers3. Presumption and restrictive conditions4. Real Estate appraisal result report 5. AppendixLetter to the Entrusting PartyXXX: We accepted your appointment to conduct the appraisal on your real estate that you have entrusted us. The appraised object is the real estate located at Room 203-2,Floor 2, Building 1,Shiji Jinyuan Jiaju Square, No. 31 Qianjin Road, Fancheng District,Xiangyang City.Appraisal Object: Real estate of Room 203-2,Floor 2, Building 1,Shiji Jinyuan Jiaju Square, No. 31 Qianjin Road, Fancheng owned by Yu Jie, i.e., the total construction area of 121.19 square meters of non-residential building droit and corresponding allocation of state-owned land use right. Purpose of Appraisal: Supplying the reference basis of real estate market price for the entrusting partys knowledgeAppraisal Date: Nov 16, 2013 The appraisers have assessed the value of the above-mentioned real estate on the basis of independence, impersonality, equity, legitimacy and cautiousness, adhering to on-spot inspection of the real estate as well as comprehensive collection of related market information and appraised object information, in the light of general analysis the elements which will influence the market value of the real estate, comply with state regulations on real estate appraisal, real estate appraisal rules and given appraisal purpose as well as by utilizing logical appraisal processes and methods. The appraisal result of the appraised object on Nov 16, 2013 is as follows (currency: RMB):Unit Price of the appraised object：RMB15009 Yuan/Square MeterTotal Price of the appraised object: RMB1, 818,900.00 Yuan, among which the house value is RMB1, 725,400.00Yuan, and the land value is RMB93, 500.00 Yuan.Declaration：In use of this report, please note the evaluation assumptions and constraints of this appraisal report, and the report of the full text as an integral whole, only part of the content is not become effective valuation report.Xiangfan Chengzuo Real Estate Appraisal CO., LTD 11/17/2013Statement by the AppraisersWe hereby solemnly declare the following:1. All of the information which has been shown in this report is authentic and accurate.2. All of the analyses, comments and conclusions which have been shown in this report have been presented, given and drawn through our impartial analysis and professional knowledge. However, all of them have been restricted by the presumptions and restrictive conditions which have been explained in this report.3. We have not had the interest conflict with the appraised object, nor have common interests with or prejudice against the entrusting party.4. According to “Real Estate Appraisal Rules” GB/T50291-1999 which is the State Standard of the Peoples Republic of China and “Real Estate Mortgage and Appraisal Guidance” jointly issued by the ministry of construction, the bank of China, the China banking regulatory commission, we presented analyses, given comments, drawn conclusions and compose the report eventually.5. The appraisers who take charge of on-site inspection are Xu Dong and Mi Yongjun on Nov 16, 2013. 6. Price valuation report of Allocation of land use right cited real estate evaluation report Chengzuo Guzi(2013) No.10104-14. The registered real estate appraisers who take charge of the appraisal: Xu Dong Registered Public Real Estate Appraiser of P. R. China (Registration No.: 4220040031) Signature: Mi Yongjun Registered Public Real Estate Appraiser of P. R. China (Registration No.: 4220040153) Signature: Presumption and Restrictive Conditions1. The entrusting party obtained the appraised object legally and the appraised object is in sound condition at the appraisal time and is used legally, safely and normally at its optimal status. 2. The real estate market at the appraisal time operates publicly, equally and voluntarily.3. Any operation mode and procedure relating to the appraised object shall comply with the relevant national and local laws and regulations.4. The owner, the location, the category of property, the building area and the function of the appraised object in this report shall be subject to what have been recorded in the House Proprietorship Certificate provided by the entrusting party.5. The appraisal result in this report is the market value of the real estate at the appraisal time of 5th, July, 2010 and meets all the presumption and restrictive conditions. The real estate price shall be reappraised in case the conditions and purpose set in this report vary.6. The appraisal pr