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ŶŽŵĂůŝĂ
WŽƐƐŝďŝůĞĐĂƵƐĂ
^ŽůƵnjŝŽŶĞ
EŽŶĞƐĐĞĂĐƋƵĂ
ƋƵĂŶĚŽŝůƌƵďŝŶĞƩŽ
ğĂƫǀĂƚŽ
>ĂƚĞŶƐŝŽŶĞĚŝĂůŝŵĞŶƚĂnjŝŽŶĞğ
ƚƌŽƉƉŽďĂƐƐĂ
ŽŶƚƌŽůůĂƌĞďĂƩĞƌŝĂͬǀŽůƚĂŐŐŝŽ
&ŝůƚƌŝŝŶŝŶŐƌĞƐƐŽŽƩƵƌĂƟ
WƵůŝƌĞŝĮůƚƌŝ
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ĂƉĞƌƚŽ
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ůŝƚăĚŝůĂǀĂŐŐŝŽŝŐŝĞŶŝĐŽ
ƩĞŶĚĞƌĞĚĂƚƌĞĂƚƌĞŶƚĂŵŝŶƵƟ
ŽƐƉĞŐŶĞƌĞŵŽŵĞŶƚĂŶĞĂŵĞŶƚĞ
ů͛ĂůŝŵĞŶƚĂnjŝŽŶĞ͘;/ů>ŐŝĂůůŽ
ůĂŵƉĞŐŐŝĂŝŶŵŽĚĂůŝƚăĞƌŽŐĂͲ
njŝŽŶĞͿ
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ƐĞƌĞƚƌŽƉƉŽůƵŶŐŽ
ƩĞŶĚĞƌĞĮŶŽĂƚƌĞŶƚĂƐĞĐŽŶĚŝ
ŽƐƉĞŐŶĞƌĞŵŽŵĞŶƚĂŶĞĂŵĞŶƚĞ
ů͛ĂůŝŵĞŶƚĂnjŝŽŶĞ͘ZĞƐĞƩĂƌĞŝů
ƐĞŶƐŽƌĞ͘
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ĂĨƵŶnjŝŽŶĂƌĞƐĞŶnjĂ
ĞƐƐĞƌĞĂƫǀĂƚŽ
WŽƚƌĞďďĞĞƐƐĞƌĞĂƫǀĂƚĂůĂŵŽͲ
ĚĂůŝƚăĚŝƌŝƐĐŝĂĐƋƵŽŝŐŝĞŶŝĐŽ͘/ů>
ŐŝĂůůŽůĂŵƉĞŐŐŝĂŝŶŵŽĚĂůŝƚăĚŝ
ůĂǀĂŐŐŝŽŝŐŝĞŶŝĐŽ
ĂŵďŝĂƌĞƉƌŽŐƌĂŵŵĂ͕ϭʹϯ
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^ŽƐƟƚƵŝƌĞů͛ĞůĞƩƌŽǀĂůǀŽůĂ
/ůƐĞŶƐŽƌĞůĂŵƉĞŐͲ
ŐŝĂ
>ĂƚĞŶƐŝŽŶĞĚŝĂůŝŵĞŶƚĂnjŝŽŶĞğ
ƚƌŽƉƉŽďĂƐƐĂ
ŽŶƚƌŽůůĂƌĞďĂƩĞƌŝĂͬǀŽůƚĂŐŐŝŽ
>ĂƚĞŵƉĞƌĂƚƵƌĂŶŽŶ
ğĐŽƌƌĞƩĂ
WƌĞƐƐŝŽŶĞĞƚĞŵƉĞƌĂƚƵƌĂĚĞůů͛ĂĐͲ
ƋƵĂŶŽŶĐŽƌƌĞƩĞ
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ƉĞƌĂƚƵƌĂƐƵůůĂƐƵĂŝŵƉŽƐƚĂnjŝŽŶĞ
ƉŝƶĨƌĞĚĚĂͬƉŝƶĐĂůĚĂĞǀĞƌŝĮĐĂͲ
ƌĞĐŚĞůĂƉƌĞƐƐŝŽŶĞĞůĂƚĞŵƉĞƌĂͲ
ƚƵƌĂĚĞůů͛ĂĐƋƵĂƐŝĂŶŽƐƵĸĐŝĞŶƚĞͲ
ŵĞŶƚĞĞůĞǀĂƚĞ
>ĂǀŝƚĞĚĞůůŝŵŝƚĂƚŽƌĞĚŝƚĞŵƉĞͲ
ƌĂƚƵƌĂŶŽŶğŝŵƉŽƐƚĂƚĂĐŽƌƌĞƩĂͲ
ŵĞŶƚĞ
ZƵŽƚĂƌĞůĂŵĂŶŽƉŽůĂĚĞůůĂƚĞŵͲ
ƉĞƌĂƚƵƌĂƐƵůůĂƉŽƐŝnjŝŽŶĞƉŝƶĐĂůͲ
ĚĂĞĐŽŶƚƌŽůůĂƌĞůĂƚĞŵƉĞƌĂƚƵƌĂ͘
YƵŝŶĚŝǀĞĚĞƌĞůĂƐĞnjŝŽŶĞƌĞůĂƟͲ
ǀĂĂůůŝŵŝƚĂƚŽƌĞĚŝƚĞŵƉĞƌĂƚƵƌĂ͘
>ĂƉƌĞƐƐŝŽŶĞğƚƌŽƉͲ
ƉŽĂůƚĂͬďĂƐƐĂ
>͛ĂĞƌĂƚŽƌĞğŽƩƵƌĂƚŽ
WƵůŝƌĞů͛ĂĞƌĂƚŽƌĞ
/Įůƚƌŝ;ŝŶŐƌĞƐƐŽͬĞůĞƩƌŽǀĂůǀŽůĂͿ
ƐŽŶŽďůŽĐĐĂƟ
WƵůŝƌĞŝĮůƚƌŝĚŝŝŶŐƌĞƐƐŽĞƐŽƐƟƚƵͲ
ŝƌĞů͛ĞůĞƩƌŽǀĂůǀŽůĂƐĞŶĞĐĞƐƐĂƌŝŽ
/ůƉƌŽŐƌĂŵŵĂŶŽŶ
ƉƵžĞƐƐĞƌĞŵŽĚŝͲ
ĮĐĂƚŽ
/ůƌƵďŝŶĞƩŽĚĞǀĞĞƐƐĞƌĞĂƫǀĂƚŽ
ŝŵŵĞĚŝĂƚĂŵĞŶƚĞƉƌŝŵĂĚĞůůĂ
ƉƌŽŐƌĂŵŵĂnjŝŽŶĞ
ƫǀĂƌůŽŵĂŶƵĂůŵĞŶƚĞƉƌŝŵĂ
ĚĞůůĂƉƌŽŐƌĂŵŵĂnjŝŽŶĞ
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