The fee quotation by the appraisers was for 171 properties; however 8 of these properties were either already sold to third party buyers or an SPA is signed for selling. Therefore, these 8 properties are excluded from valuation. Also, since the appraisers have quoted the fee property by property, we have picked up lower of the two fee quotations and as shown in the below table recommending to assign 50 properties to Knight Frank and the remaining 113 to S.L. Standard Appraisal.