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E EFO LPNNFS EFOOF WFK % FU WBS "EFMFOFT G STUF UBOLF EB IVO WgHOFEF EFO NPSÝ HFO NgTLF FS EFU GPSEJ KFH MJHF IBS MrTU EFO CPH EFS IFEEFS OrTUFO EFU TBNNF NFO GPSOFNNFMTFO FS LMBS EFS TLFS FU FMMFS BOEFU NFHFU TOBSU %FU MJHOFEF IFOEF JLLF BU TF N SLU Qg UJMWrSFMTFO TFMW PN IVO NgTLF IBWEF HSVOE OPL UJM EFU )VO WBS USPET BMU PQUJÝ NJTU BG OBUVS Þ FGUFS TJO GBS Þ TFMW PN IVO MFWFEF J &EEFSLPQÝ QFOT TQJOE "EFMFOF WBS VOH PH WFMQSPQPSUJPOFSFU NFE SBWOFTPSU IgS PH EF TNVLLFTUF KOF OPHFO LVOOF GPSFTUJMMF TJH NFO JOHFO OTLFEF IFOEF 5JMTZOFMBEFOEF )VO WBS WFOMJH JOUFMMJHFOU PH IVNPSJTUJTL NFO BMMJHFWFM JTPMFSFU * TLPMFO * GSJUJEFO * MJWFU )VO WBS NFOUBMU TUrSL Tg IVO LVOOF TBHUFOT MFWF NFE EFU NFO JOEFSTU JOEF OTLFEF IVO OPHFO BU CFUSP TJH UJM &O BU EJTLVUFSF PH GJMPTPGFSF NFE &O SJHUJH HPE MZUUFS %FS WBS TFMWÝ G MHFMJH GSV +FTQFSTFO NFO IVO LVOOF JLLF PQGZMEF BMMF "EFÝ MFOFT CFIPW )BWEF IVO WrSFU SFMJHJ T WBS IVO OPL HgFU J LJSLF PH IBWÝ EF GPSUBMU PN TJOF UBOLFS PH TQFLVMBUJPOFS UJM FO QSrTU .BO LVOOF PHTg CFOZUUF FU BG EJTTF TBNUBMFGPSB Qg OFUUFU FMMFS SJOÝ HF UJM FO VOHEPNTMJOKF NFO EF NVMJHIFEFS WBS VQFSTPOMJHF TZOUFT IVO .BO GJL JLLF GZTJTL LPOUBLU NFE WFELPNNFOEF EFS TLSFW FMMFS UBMUF J EFO NPETBUUF FOEF
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FK IWBE "EFMFOF IBWEF CSVH GPS WBS cO EFS LVOOF SJETF / IFOEFT MJW PQ PH UBHF FO GBTU CFTMVUOJOH PN IWBE EFS LVOOF H SFT PH IWPS EFS TLVMMF TrUUFT JOE )VO BOFEF JLLF BU OÝ TLFU BMMFSFEF WBS Qg WFK UJM BU Hg J PQGZMEFMTF PH BU IVO CJUUFSÝ MJHU TLVMMF LPNNF UJM BU GPSUSZEF EFU GPSEJ EFU LPN UJM BU LPTUF CMPE HSgE PH E E .BTTFS BG E E
7JMMB (FFOB IFE IVTFU %FU WBS FO BSW FGUFS GBSFO PQLBMEU FGUFS NPSFO "U EFU Mg Qg 4PMTLJOTWrOHFU WBS OPHFU BG FO KPLF %FU WBS FO I K GJSLBOUFU LMPET NFE NVHHS OU TLJGGFSUBH PH BGTLBMMFEF CSVOF TLPEEFS %FU MJHOFEF NFSF FO TZETUBUTIBDJFOEB GSB FO BNFSJLBOTL WPPEPPGJMN FOE FO WJMMB J %BONBSL .VSWrSLFU IBWEF GMFSF GSPTUTLBEFS FOE EFS WBS EBHF J VHFO PH IBWFO Tg VE TPN PN EFS LVOOF HFNNF TJH CgEF BCFS PH UJHFSF J EFO *OEFOGPS EPNJOFSFEF TUPSF TLZHHFGVMEF WrSFMTFS %F GMFÝ TUF CMFW JLLF CSVHU UJM NFHFU BOEFU FOE PQCFWBSJOH BG UVOHF N CMFS PH BOEFU BSWFHPET TPN JOHFO MrOHFSF CFOZUUFEF ,rMEFSFO LPN EFS TKrMEFOU OPHFO J PH TUVFFUBHFO IWPS "EFMFOFT WrSFMTF PH L LLFOFU Mg JOEFIPMEU USF SVN FO TVJUF NFO EF CMFW IFMMFS JLLF CSVHU GPSEJ IVTFUT FOFTUF GKFSOTZO TUPE Qg G STUF TBM IWPS &EEFSLPQQFO IPMEU UJM %FO UJSTEBH "EFMFOF N EUF 5VOOFMNBOEFO G STUF HBOH TUBSÝ UFEF TPN EF GMFTUF BOESF NFE BU VSFU WrLLFEF LMPLLFO %FU WBS NJEU J PLUPCFS Tg EFU WBS N SLU VEFOGPS %FS WBS TUJMMF J EFU TUPSF IVT &EEFSLPQQFO TPW PQQF J TJU CP NFO "EFMFOF WJETUF BU EFO PGUF WgHOFEF UJEMJHU PH IBWEF CSVH GPS CBLLFO
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VO HBCUF TUSBLUF TJH PH TMPH EZOFO UJM TJEF )VO WBS IVSÝ ) UJHU VEF BG TFOHFO PH OBULKPMFO / HFO HJL IVO VE Qg HBOHFO PH IFO UJM CBEFWrSFMTFU %FU CFU E JOHFOUJOH %FS CPFEF BMMJÝ HFWFM JLLF BOESF J 7JMMB (FFOB FOE IFOEF TFMW &EEFSLPQQFO PH TJS #FEFWFSF PH TJETUOrWOUF WBS MJHFHMBE )BO SFOEUF TFMW O HFO PNLSJOH 'PS EFU NFTUF Mg IBO EPH USPGBTU J GPEFOEFO BG &EEFSLPQQFOT TFOH PH WFOUFEF Qg CBLLFO NFOT SPWEZSFU TOPSLFEF "EFMFOF UrOEUF GPS CSVTFSFO PH WFOUFEF UJM WBOEFU WBS OPÝ HFOMVOEF UFNQFSFSFU 3JHUJHU WBSNU CMFW EFU BMESJH )VO WJEÝ TUF JLLF IWBE EFS WBS HBMU NFO IVO LFOEUF TWBSFU Qg GPSIgOE Tg IVO HBE JLLF MrOHFSF TQ SHF PN EF TLVMMF SJOHF FGUFS FO CMJLLFOTMBHFS &S EV LMBS PWFS IWB EFO TMBHT LPTUFS "EEZ 4gEBO OPHFO BCFS BSCFKEFS Qg UJNFM O PH EF CSVHFS BMUJE EF EZSFTUF NBUFÝ SJBMFS +FH GgS "THBS UJM BU MBWF EFU %FU LPTUFS OPL WrTFOUMJHU NJOESF FOE EJU NJTCSVH PH OgS EV IBS GgFU EFO G STUF ESJOL IBS EV HMFNU BMU PN EFO IFS TBNUBMF 0H KFH UWJWMFS Qg BU "THBS LVOOF gCOF FO EgTF GMgFEF UPNBUFS PN IBO Tg IBWEF FO IFM JTFOLSrNNFSÝCVUJL UJM TJO SgEJHIFE .FO IVO TBHEF EFU TFMWG MHFMJH JLLF I KU GPS IVO HBE JLLF TLrOEFT NFE &EEFSLPQQFO NFSF FOE I KTU O EWFOEJHU "EFMFOF USgEUF JOE VOEFS CSVTFSFO HJTQFEF PH IPQQFEF MJEU PQ PH OFE J EFU IBMWLPMEF WBOE %FU WBS BMUJE OPHFU BG FU HZT GPSEJ IVO LPN MJHF GSB EFO WBSNF TFOH TgEBO FS MJWFU J &EEFSLPQQFOT IVT NJMBEZ FO LPME EVLLFSU LMPLLFO IBMW PN NPSHFOFO WrS EV HMBE GPS BU EV IBS FO TFOH BU TUg VE BG PH FU CBE BU Hg JOE J EFU FS EFS NJMMJPOFS VEF J WFSEFO EFS JLLF IBS
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)VO LPN TIBNQPP J TJU MBOHF IgS PH WBTLFEF PH HOVCCFÝ EF EFU HSVOEJHU JHFOOFN #BHFGUFS TrCFEF IVO IFMF LSPQQFO JOE PH TLZMMFEF FGUFS /PL IBWEF IVO JLLF SgE UJM NPEFU K PH EZSF QBSGVNFS TPN 'SFKB PH -BVSB NFO JOHFO TLVMMF TJHF BU IVO WBS TOBWTFU FMMFS MVHUFEF "EFMFOF TBUUF FO TUPS rSF J TJO QFSTPOMJHF IZHJFKOF )VO MVLLFEF GPS CSVTFSFO WSFE WBOEFU VE BG IgSFU UPH IgOELMrEFU PH U SSFEF TJH PNIZHHFMJHU 4g HJL IVO IFO UJM TQFKMFU PH CFHZOEUF BU SFEF TJH NFE C STUFO 6SFU PWFS E SFO WJTUF NJOVUUFS PWFS IWJMLFU Qg TQFKMTQSPH CFU E NJÝ OVUUFS J )VO IBWEF BMUTg HPE UJE )VO TLVMMF G STU N EF LMPLLFO )VO OZOOFEF GPS TJH TFMW NFOT IVO TUVEFSFEF TJO LSPQ NFE LSJUJTLF CMJLLF )VO IBWEF IBGU CSZTUFS J FU IBMWU gST UJE PH EF WBS WJTU JLLF GrSEJHF FOEOV %FS WBS PHTg CZHHFVEWJEFMÝ TF PNLSJOH IPGUFSOF )VO GPSFTUJMMFEF TJH FO NBTTF CJUUFTNg EOBÝNrOE NFE BSÝ CFKETIKFMNF PH NJOJBUVSFÝMBTUCJMFS EFS ES OFEF SVOEU JOEF J LSPQQFO PH LOPLMFEF Qg PQHBWFSOF NFOT FO TKBLCBKT HVNMFÝ EF Qg FO DJHBSTUVNQ PH SgCUF PSESFS ,PN Tg J TWJOH * MVTFÝ EF EPWFOEZS )WB WFOUFS * Qg +FH IBS FO VOH EBNF EFS TLB WrSF GrSEJH UJM OrTUF TPNNFS &MMFST WBOLFS EFS EBHC EFS +FH WJM TF FU QBS GVMENPEOF IrOHFSF GPSPWFO PH Tg TLB WJ IB NFSF N SUFM OFE UJM CBMEFSOF .BTTFS BG N SUFM +PF TFOE NJH FLTUSB WPHOMBEOJOHFS JOEFO NgOFEFO FS PNNF +FH WJM TF FO S W EFS GPSN SLFS TPMFO "EFMFOF TVLLFEF CBSF KFH JLLF LPNNFS UJM BU MJHOF IFOEF EBNFO OFEF IPT HS OUÝ IBOEMFSFO IVO IBS HPEU OPL FO TUPS OVNTF %FU WBS EFS EPH JLLF OPHFO VNJEEFMCBS GBSF GPS PH "EFMFÝ
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OF WBS J EFU TUPSF PH IFMF UJMGSFET NFE TJU VETFFOEF J EFU NJOETUF FS KFH UZOE ESFOHFOF TZOFT HPEU PN TMBOLF QJHFS Tg IWPSGPS FS EFS JOHFO ESFOHF EFS LB MJ NJH EFU LB KP UrOÝ LFT BU EV JLLF HJ S EFN DIBODFO NJMBEZ IWPSEBO USPS EV NgTLF BU EV GSFNTUgS OgS EV BMESJH TNJMFS FMMFS TKrMEFOU TFS Qg GPML USPS EV EcO TMBHT I TUFS QPJOU IPT BOESF NFOOFTLFS ESFOHFOF UrOLFS BU EV FS O SEFU GPSEJ EV BMUJE TJEEFS NFE OrTFO J FO CPH FMMFS PTTF FS EV FO VUJMOrSNFMJH JTESPOOJOH OFK KFH TZOFT CBSF JLLF EFS FS SFU NFHFU BU TNJMF BG PH KFH IBS JLLF MZTU UJM BU Hg SVOEU PH HSJOF GKPHFU TPN FO DJSLVTLMPWO ) VO GPSMPE CBEFWrSFMTFU PH LBTUFEF FU IVSUJHU CMJL PQ BE USBQQFO EFS GPSTWBOEU J TLZHHFSOF &EEFSLPQQFO TPW TUBEJH J TJO IVMF "EFMFOF HJL UJMCBHF HFOOFN EFO MBOHF HBOH NFO OFUPQ TPN IVO OgFEF E SFO LOBHFEF HVMWFU )VO WFOEUF TJH %FS TUPE OPHFO GPS FOEFO PH Tg Qg IFOEF &O NBOE "EFMFOF VETU EUF FU LPSU IWJO G S JOE Qg TJU WrSFMTF PH MgÝ TFEF E SFO %FU NgUUF WrSF FO JOECSVETUZW )VO FKFEF JLLF FO NPCJMUFMFGPO PH IVTFUT GBTUF BQQBSBU CFGBOEU TJH J TUVFO Tg EFU LMPHFTUF IVO LVOOF H SF WBS BU LSBWMF VE BE WJOEVFU PH M CF PWFS UJM OBCPFO %FU CBOLFEF Qg E SFO "EFMFOF TUPE TUJMMF WFE TFOHFO )VO UVSEF JLLF S SF TJH BG TLSrL GPS BU MBWF TU K %FU WBS JEJPUJTL )BO WJETUF KP BU IVO WBS IFSJOEF &O TUFNNF UBMUF ErNQFU Qg EFO BOEFO TJEF "EEZ %FU FS CBSF NJH "THBS &O PNHgFOEF MFUUFMTF PNGBWOFEF IFOEF 4LVMESFOF GBMEU OFE )VO TWBSFEF JSSJUFSFU KFCMJL EFO JEJPU )VO GBOEU IVSUJHU SFOU U K J LPNNPEFO LMrEUF TJH Qg PH
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MgTFEF E SFO PQ &O NBOE PNLSJOH EF gS NFE N SLUGFEÝ UFU IgS HSg KOF PH TNBMMF LBSBLUFSM TF MrCFS TUPE J HBOHFO )BO IBWEF gCFOTUgFOEF TLKPSUF TPSUF KFBOT PH MJEU GPS GMBTIZ TU WMFS Qg )BO IBWEF FO N SL KBLLF J IgOEFO PH QBSBEFSOF PQQF %cU Ng EV BMUTg VOETLZMEF "EEZ +FH I SUF JLLF BU EV WBS I Qg UPJMFUUFU +FH IFEEFS "EFMFOF TOBQQFEF IVO PH MBHEF BSNFOF PWFS LPST )WB MBWFS EV IFS )WPSEBO FS EV LPNNFU JOE .BOEFO LBTUFEF FU TLZMEJHU CMJL NPE MPGUFU )BO GPSUTBUUF ErNQFU +FH IBS WrSFU IFS IFMF UJEFO +FH TPW IFS J OBU "EFMFOF HBW IBN JOHFO DIBODFS 7JTU JLLF IFMF OBUUFO &SI KFH IgCFS JLLF EFU MBSNFEF GPS NFHFU "THBS WSFE TJH TPN FO MJMMF ESFOH EFS IBS GPECPMETNBESFU FO SVEF )BO Tg HBOTLF WJTU CS EFCFUZOHFU VE NFO EFU WBS QgUBHFU "EFMFOF GPSOFNNFEF BU EFS J EF LPMEF HSg KOF WBS FO USPET TPN JOEJLFSFEF BU IBO JOEFSTU JOEF WBS TLJEF MJHFÝ HMBE NFE IWBE IVO NFOUF %FU FS TgEBO BU II (FFOB FIN EJO NPS FS KP FO BIN WBSNCMPEJH LWJOEF TKPWU WBSNCMPEJH FS JLLF EFU G STUF KFH UrOLFS Qg J GPSCJOÝ EFMTF NFE &EEFSLPQQFO BMLPIPMJTFSFU LPME FHPJTUJTL CJUDI FS NFÝ HFU NFSF LFOEFUFHOFOEF /V EB EV IBS GgFU EFU IFMF NFE FS EFS WFM JLLF OPHFU EFS GPSIJOESFS EJH J BU Hg TBHEF IVO "THBS KBQQFEF +BNFO KFH Tg JOHFOUJOH +FH TWrSHFS +FH FS WJSLFMJH LFE BG IWJT KFH GPSTLSrLLFEF EJH %FU WBS JLLF NFOJOHFO
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EFMFOFT KOF CMFW TNBMMF " EFU FS J IWFSU GBME M HO BU IBO JLLF Tg OPHFU (FFOB CFI WFS JLLF WJEF EFU WFM %V WFE IVO IBS EFU NFE BU NJTGPSTUg WJTTF TJUVBUJPOFS )BO WBS Tg ZOLFMJH BU "EFMFOF WBS Qg OJQQFU UJM BU HSJOF %FU N SLF NPSHFOIgS TUSJUUFEF PH EFS WBS FU OrTUFO CFEFOÝ EF VEUSZL J EF HSg KOF NFO JHFO BOFEF IVO GBMTLIFEFO CBHÝ WFE )VO WJMMF BMESJH PWFSMBEF EFO NBOE BU LPNNF Tg MJEU TPN LSPOFS J FO 3 EF ,PSTÝC TTF Qg FHOF WFHOF Tg MJEU TUPÝ MFEF IVO Qg IBN "THBS GPST HUF BU DIBSNFSF TJH UJM QPJOU NFE FU TLrWU TNJM NFO "EFMFOF WBS MBWFU BG UZTL ,SVQQÝ TUgM +FH TZOFT EV TLB Hg OV +B KP %FU FS LMBSU +FH IBS PTTF USBWMU 7J TFT )BO M GUFEF IgOEFO J FU LPSU WJOL "EFMFOF SFBHFSFEF JLLF NFO IVO OgFEF BU SFHJTUSFSF BU IBOT IgOEGMBEF WBS S E %FU WBS JLLF OBUVSMJH S ENFO -JHOFÝ EF NFSF FU FMMFS BOEFU TZOUFUJTL .BMJOH NgTLF FMMFS TU SLOFU CMPE )BO MVTLFEF VE J L LLFOFU PH GPSTWBOEU BE EFO WFK IBO QMFKFEF BU Hg JOE )VO gOEFEF MFUUFU PQ PH HJL TFMW VE J L LLFOFU GPS BU GPSÝ CFSFEF CBLLFO 4BUUF WBOE PWFS UJM UF TLZMMFEF QPUUFO PH TNFE FU QBS CSFWF J 4g TNVSUF IVO UP CPMMFS UJM TJH TFMW PH cO UJM &EEFSLPQQFO * EF GMFTUF UJMGrMEF CMFW EFO JLLF TQJTU 'SB L Ý MFTLBCFU IFOUFEF IVO UP LPMEF HVME M %c CMFW UJM HFOHrME ESVLLFU EFU FS CBSF Tg LMBNU BU IBO IBS TFU NJH O HFO PH IBO FS KP HBNNFM HBE WJEF PN IBO IBS MVSFU Qg NJH G S EFU FS TKrMEFOU IBO PWFSOBUUFS IFS NFO NBO LB JLLF TF PQ GPS FOEFO BG EFO USBQQF OgS E SFO UJM &EEFSLPQQFOT IVMF FS MVLLFU
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FOEFT UBOLFS CMFW BGCSVEU BG FO IrT I KUUBMFSTUFNNF J ) HBOHFO "EEZ &S EV PQQF )VO HJL EFSVE PH USZLLFEF TWBSLOBQQFO JOE NJOVUUFS 5JMCBHF J L LLFOFU TUJMMFEF IVO TJH Qg UrFS WFE WBTLFO 4QFKEFEF VE J EFO PWFSHSPFEF CBHIBWF )VO LVOOF TF IFO UJM TUJFO HFOOFN LSBUUFU NFMMFN USrFSOF NFO "THBS WBS WrL %FU WBS JLLF GPSEJ IVO WBS CBOHF GPS IBN NFO EFS WBS OPHFU J IBOT CMJL PH EFU GBMTLF TNJM TPN GSBTU EUF IFOEF 5SPET TJO VOHF BMEFS WBS "EFMFOF HPE UJM BU HFOOFNTLVF OgS GPML WBS QgUBHFU WFOMJHF 0H EFU WBS "THBS J I K HSBE 4MFTL PQBEUJM PH CSZTL OFEBEUJM %FO QFSGFLUF NFEBSCFKEFS J FO LPODFOUSBÝ UJPOTMFKS )VO USPFEF JLLF Qg BU &EEFSLPQQFO JLLF LVOOF HFOOFNTLVF EFU NFO IVO Tg gCFOCBSU JHFOOFN GJOHSF NFE EFU "EFMFOF Tg OPSNBMU LVO "THBS OgS IVO MVLLFEF IBN JOE Þ FMMFS IBO TFMW WBEFEF JOE Þ HFOOFN L LLFOE SFO PH OgS IBO GPSTWBOEU TBNNF WFK %FU WBS &EEFSLPQQFOT JEc NFE L LLFÝ OFU 1g EFO NgEF LVOOF IBO TNVUUF HFOOFN CBHIBWFO PH LPNNF SFU VTFU UJM PH GSB IVTFU %FU QBTTFEF &EEFSLPQQFO GJOU 4FMW IVO WBS JLLF JNNVO GPS EFO HMPCBMF WJSVT LBMEFU /BCPTMBEEFS "EFMFOF WJETUF VENrSLFU IWBE "THBS LPN GPS Þ VE PWFS EFU gCFOMZTF %cU LVOOF IVO JLLF VOEHg BU I SF DJSLB IWFS BOEFO BGUFO FMMFS OgS IVO LPN IKFN GSB TLPMF TFMW PN IVO TLSVFEF HPEU PQ GPS SBEJPFO PH TUBL GJOHSFOF J SFSOF NFOT IVO MrTUF Qg TJU WrSFMTF %FU M E BMUJE TPN PN OPHFO TMBHUFÝ EF TWJO EFSPQQF PH "THBS IZMFEF I KFTU FO EBH HgS EFU HBMU 0SHBTHBS WFE EV JLLF BU FEEFSLPQQFÝ
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IVOOFO rEFS TJO QBSUOFS FGUFS QBSSJOHFO Og EFU Ng IBO TFMW PN . FO IWBE EFS WBS NFSF CFLZNSFOEF WBS BU IBO PHTg WBS &EEFSLPQQFOT QVTIFS "EFMFOF WJETUF JLLF QSrDJT IWBE &EÝ EFSLPQQFO UPH Þ IVO HFNUF EFU BMUJE PNIZHHFMJHU Þ NFO EFU WBS J IWFSU GBME J QJMMFGPSN *LLF OPHFU EFS TLVMMF TOVTFT PQ HFOOFN OrTFO FMMFS TUJLLFT J BSNFO 1g FO NgEF WBS IVO MJHFHMBE PH Tg BMMJHFWFM JLLF *OEFSTU JOÝ EF OBHFEF EFU IFOEF &EEFSLPQQFO WBS USPET BMU IFOEFT NPS %B IVO gCOFEF E SFO UJM &EEFSLPQQFOT IVMF M GUFEF TJS #FÝ EFWFSF IPWFEFU GSB TFOHFOT GPEFOEF NFO IBO TBHEF JLLF OPÝ HFU %FU HKPSEF IBO TUPSU TFU BMESJH "EFMFOF SZOLFEF Qg OrTFO )VO QS WFEF BU USrLLF WFKSFU J Tg LPSUF ESBH TPN NVMJHU "UNPTGrSFO WBS NJMEFTU UBMU EgSMJH %FS I SNFEF BG HBNNFM DJHBSFUS H TQJSJUVT TWFE PH OPHFU BOEFU TPN IVO JLLF OTLFEF BU WJEF IWBE WBS % SFO GPSUTBUÝ UF PQ NFE FO MFU LOJSLFO PH CVNQFEF JOE J LPNNPEFO %FS M E FU HSZOU IFOOF GSB TFOHFO )WPS NBOHF HBOHF IBS KFH TBHU BU EV JLLF TLB TNrLLF E Ý SFO PQ J LPNNPEFO LOVSSFEF &EEFSLPQQFO PH WFOEUF TJH PN Qg TJEFO PH IWPSEBO IBS EV UrOLU EJH BU KFH TLB TUPQQF EFO E S OgS KFH IBS IrOEFSOF GVMEF BG EJU G STUFIKrMQTÝVETUZS %FS WBS NFHFU N SLU IFSJOEF 7JOEVFSOF WBS IFSNFUJTL UJMÝ MVLLFEF CBH EF UVOHF UrUUF HBSEJOFS ,VO FO MJMMF MZTTUSJCF GSB MZHUFQrMFO VEF Qg WFKFO GBMEU JOE Qg HVMWFU "EFMFOF MJTUFEF HFOOFN TPWFWrSFMTFU 1g WFKFO WBS IVO WFE BU GBMEF J OPHFU TPN WJLMFEF TJH JOE J IFOEFT O HOF G EEFS 'MBTLFSOF Qg CBLLFO LMJSSFEF NFO EFU MZLLFEFT IFOEF BU IPMÝ
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EF CBMBODFO )VO TQBSLFEF EFU WrL %FU WBS FU IVOEFIBMTÝ CgOE %FU WBS BMU GPS TUPSU UJM TJS #FEFWFSF %FTVEFO IBOH IBOT IBMTCgOE OFEF WFE IPWFEE SFO Ng WrSF "THBST EFU FS TJNQFMU IFO GPS NFHFU "EFMFOF LBTUFEF FU CMJL PWFS J IK SOFU IWPS FU HBNNFMU LMrEFTLBC TUPE NFE IBMWU gCOF E SF )VO LVOOF LVO MJHF BOF EFU ' STUF HBOH IVO TPN MJMMF IBWEF LJHHFU J EFU IBWEF IVO USPFU Qg &EEFSLPQQFOT IJTUPSJF PN BU IVO TPNNF UJEFS BSCFKEFEF Qg FO HgSE TPN IFTUFESFTT S /V WJETUF IVO CFESF "EFMFOF TUPQQFEF GPSBO TFOHFCPSEFU %FU WBS GZMEU NFE GMBTLFS HMBT MrCFTUJGUFS QJMMFEgTFS ,MFFOFYÝTFSWJFUUFS PH FU TUPSU PWFSGZMEU BTLFCrHFS 4BNUBMFBOMrHHFU WBS TLWBUUFU Qg HVMWFU 4PN TrEWBOMJH WBS EFS JOHFO TUFEFS BU TUJMMF CBLLFO Tg IVO TBUUF EFO Qg TFOHFO )VO UrOEUF EFO MJMMF CPSEMBNQF 4JS #FEFWFSF LPN TUSBLT IFO PH ESBL WBOE GSB TLgMFO &EEFSLPQQFO Mg NFE SZHHFO UJM J EFO GKFSOF FOEF BG EPCÝ CFMUTFOHFO 1VEFS EZOFS PH MBHFOFU Mg TPN PN OPHFO IBWEF VELrNQFU 4MBHFU 0N 4UBMJOHSBE IFS "EFMFOF GMZUUFEF FO CVOLF U K GSB FO TQJTFTUVFTUPM UPH EFO IFO UJM TFOHFO PH TBUUF CBLLFO Qg EFO )VO TUJMMFEF TJS #FEFÝ WFSFT NBETLgM Qg HVMWFU )VOEFO IPQQFEF OFE PH HJL J HBOH NFE BU TQJTF 4gEBO TBHEF IVO I KU %FS LPN MBOHTPNU MJW J TLJLLFMTFO J TFOHFO 5BL NJO TLBU "EFMFOF Tg VEUSZLTM TU Qg EFO O HOF SZH IPME EB PQ FO WJUUJHIFE PH Tg UJEMJHU Qg EBHFO 4LB KFH gCOF FU WJOEVF %FS HJL MJEU G S LWJOEFO TWBSFEF )WJT EV TZOFT
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)FS FS BMUTg NFHFU JOEFMVLLFU +BNFO Tg gCO EFU 4UFNNFO WBS GPSTPWFU JSSJUFSFU "EFMFOF USBL EFU FOF HBSEJO GSB PH MVLLFEF WJOEVFU IFMU PQ *LLF Tg NFHFU QSPUFTUFSFEF LWJOEFO %FU FS THV EB JLLF TPNNFS 1g LSPHFO PH USrL HBSEJOFU GPS JHFO GPS TBUBO NJU IPWFE )VO BSCFKEFEF TJH TU OOFOEF PQ J TJEEFOEF TUJMMJOH PH NJTÝ TFEF NPE CPSEMBNQFO 4g SBLUF IVO VE FGUFS EFO FOF HVME M )FOEFT BGTLBMMFEF UPNNFMGJOHFSOFHM LOJQTFEF Qg LBQTMFO ,B EV JLLF USrLLF EFO PQ GPS NJH "EFMFOF UPH PQMVLLFSFO PH gCOFEF MMFO ,WJOEFO ESBL FO PSEFOUMJH NVOEGVME BG GMBTLFO pgggIII %V TLV JLLF ESJLLF TQJSJUVT Tg UJEMJHU Qg EBHFO TBHEF "EFMFOF %FU FS JLLF TQJSJUVT %FU FS NFEJDJO TWBSFEF LWJOEFO PH GVNMFEF FO DJHBSFU VE BG EFO OrSNFTUF QBLLF NFE BLBWFEF CFWrHFMTFS )VO IPMEU TJH UJM UJOEJOHFO NFOT IVO UrOEUF EFO "EFMFOF TLrOLFEF UF J LSVTFU PH CFUSBHUFEF TJO NPS EV HPEFTUF IWPS TFS IVO VE NBO TLV USP EF IBWEF HFOPQMJÝ WFU ,MFPQBUSBT NVNJF IVO MJHOFS WJSLFMJH cO EFS TLV IB IKrMQ IWPSGPS CMJ S IVO WFE NFE BU EFMrHHF TJH TFMW Qg EcO NgEF &EEFSLPQQFO TNFE MJHIUFSFO J SPEFU Qg TFOHFCPSEFU )VO UPH FO UgS M NFSF )WPSGPS TFS EV TgEBO Qg NJH 4UFNNFO WBS QJSSFMJH NFO PHTg FO TNVMF TLZMEJH +FH TLB CSVHF OPHMF QFOHF 5JM IWB
%FOOJT +bSHFOTFO
56//&-."/%&/
)WB USPS EV 3VHCS E QgMrH L E LBSUPGMFS XDÝQBQJS %V IBS MJHF GgFU IVTIPMEOJOHTQFOHF TWBSFEF &EEFSLPQÝ QFO PQSJHUJHU GPSCBWTFU %FU FS BMUTg FO VHF TJEFO +BOOF ,WJOEFO SZOLFEF CSZOFOF )WFN FS +BOOF +FH IFEEFS (FFOB %FU FS (FFOB FMMFS NPS FS EV NFE "EFMFOF S NNFEF TJH %FO TVSF MVGU IBOH J OrTFO PH S Ý HFO LSBETFEF J IBMTFO +BNFO KFH TLB BMUTg CSVHF GMFSF QFOHF LSPOFS SrLLFS JOHFO WFHOF )gOEUBHFU FS HgFU BG TUFHFQBOEFO L MFTLBCFU ESZQQFS J CVOEFO PH SBEJBUPSFO Qg NJU WrSFMTF WJSLFS JLLF PSÝ EFOUMJHU )FMF IVTFU FS WFE BU GBMEF GSB IJOBOEFO pSI IPME EB PQ %V WFE THV EB BU WJ JLLF IBS SgE UJM EFO TMBHT 5SPS EV NgTLF KFH TLJEFS ÝLSPOFTFEMFS "EFMFOF MPE LPNNFOUBSFO TUg GPS IWBE EFO WBS PH Tg BGÝ WFOUFOEF VE ,WJOEFO JOIBMFSFEF EZCU %V LB TJLLFSU L CF FO CJMMJH TUFHFQBOEF J 3 EF ,PSTÝCVÝ UJLLFO PH L MFTLBCFU GFKMFS JOHFOUJOH +FH WBS TFMW OFEF PH IFOUF JTUFSOJOHFS J GSPTUCPLTFO J HgS 0H IWJT EV GSZTFS LB EV KP CBSF UB FO US KF Qg +FH LB THV EB JLLF H SF GPS BU EFO IFS HBNMF LBTTF FS N HVUrU "VVW NJU IPWFE )VO UPH FO TMVSL NFSF BG MMFO , MFTLBCFU FS J IWFSU GBME WFE BU WrSF UPNU Tg IWJT WJ TLB GPSUTrUUF NFE BU TQJTF TLB KFH IB OPHMF LPTUQFOHF ,WJOEFO TU OOFEF PH QFHFEF NPE FU TUPSU NBLFVQÝCPSE J IK SOFU 4g IFOU NJO QVOH EcSPWSF J UBTLFO "EFMFOF HJL EFSIFO 5BTLFO HBCUF TPN FO TUPS GJTLFNVOE %FS Mg FO BOPOZN LVWFSU WFSTU %FO TUPE IBMWU gCFO Tg IVO
%FOOJT +bSHFOTFO
56//&-."/%&/
LVOOF TF OPHMF TNg IWJEF QJMMFS J "EFMFOF IBWEF TFU EFO UZQF QJMMFS cO HBOH G S J TLPMFO %cO EBH EF IBWEF IBGU CFT H BG FO UJEMJHFSF OBSLPNBO 4JH NJH FS EV Qg FDTUBTZ &EEFSLPQQFO CMFW IFMU GPSLFSU J BOTJHUFU 4g GJL IVO TBNMFU TJH %FU WBS QVOHFO EV TLV UB ,PN IFS NFE EFO UBTLF "EFMFOF CSBHUF EFO IFO UJM TFOHFO ,WJOEFO SFW EFO UJM TJH NFE FO BHHSFTTJW CFWrHFMTF )VO LSBNNFEF LVWFSUFO TBNÝ NFO PH HFNUF EFO VOEFS EZOFO 4g CFHZOEUF IVO GFCSJMTL BU SPEF J TJO QVOH "EFMFOF Tg CBSF Qg IFOEF ,WJOEFO LJHHFEF PQ NFE EFO SZHFOEF TN H J NVOEWJHFO %FS WBS FO CMBOEJOH BG TLZME WSFEF PH BGNBHU J IFOEFT QPTFEF BOTJHU )WB GBOEFO HMPS EV Qg ,B NBO OV JLLF IB MJEU TKPW +FH IBS THV JLLF GPS NBOHF GPSO KFMTFS IFS J UJMWrSFMTFO 0H Tg TLB NBO PTTF TUg TLPMFSFU PWFS GPS TgEBO FO TOPUVOH ISSSNÝ NSSSBI )VO LPN UJM BU IPTUF J CBS BSSJHTLBC PH UBCUF DJHBSFUUFO J UBÝ TLFO 4F OV EcS )VO TBNMFEF EFO IVSUJHU PQ PH C STUFEF HM EFSOF VE "EFMFOF LJHHFEF OFE J HVMWFU )VO TLBNNFEF TJH 'SZHUFMJHU #gEF Qg TJO FHFO PH NPSFOT WFHOF )FS /PHMF QFOHFTFEMFS CMFW TUVLLFU JOE J TZOTGFMUFU "EFMFOF UPH EFN ,PNNBOEPUPOFO WBS JLLF UJM BU UBHF GFKM BG )VO WJETUF BU EFU WBS LMPHFTU BU UJF TUJMMF OV )VO IBWEF IFMMFS JLLF MZTU UJM BU UBMF NFE &EEFSLPQQFO MrOHFSF )WPSOgS IBWEF IVO J WSJHU IBGU EcU 'PS IWBE WBS EFS BU TJHF EBW NFE EJH HBNMF SBWFIFBE IWPSEBO HgS EFU NFE OBSLPÝ
%FOOJT +bSHFOTFO
56//&-."/%&/
NJTCSVHFU QBT OV Qg EV JLLF GgS QJMMFSOF J EFO HBMF IBMT OgS EV TLZMMFS FGUFS NFE HVMECBKFSF FS EV M CFU U S GPS TN HFS KBNFO KBNFO KFH TUPSNFS EB MJHF OFE PH L CFS FU LBSUPO PH FO GMBTLF XIJTLZ 4g HFSOF 4LB EFU Qg LPSUFU /g LPOUBOU .Z NZ WJ IBS TBOEFMJH MJHF GgFU M O IWBE EFS FS GPS SFTUFO UJMCVE Qg QVEEFSÝ TVLLFS HS OrSUFS PH LBSUPGGFMNFM UJOH TPN LB TOJGGFT EJSFLUF PQ J UVEFO EFU HJ S HBOTLF WJTU JLLF EFO TUPSF SVT NFO Tg CFI WFS NBO JLLF UrOLF Qg BGUFOTNBEFO 0H Hg Tg OFE PH MVGU IVOEFO LOVSSFEF &EEFSLPQQFO "EFMFOF USBTLFEF IFO NPE E SFO ,PN TJS #FEFWFSF TBHEF IVO MBWU %FO MJMMF IVOE LFOEUF SJUVBMFSOF PH GVMHUF NFE "EEZ )VO WFOEUF TJH %FU WBS NVMJHU BU LWJOEFO J TFOHFO WBS IFOEFT NPS NFO IVO LVOOF JLLF MrOHFSF LFOEF IFOEF IWPS HBNNFM FS IVO CFUZEFS EFU OPHFU IVO IBS KP BMMJHFWFM JLLF UrOLU TJH BU CMJWF IFS SFU MrOHF 4PN MJMMF IBWEF "EFMFOF CFVOESFU TJO NPS GPS IFOEFT TL OIFE %FU IBWEF NBOHF BOESF PHTg NFO TL OIFEFO WBS SFWFU GSB IFOEF BG gST NJTCSVH BG GPSTLFMMJHF TUJNVMBOTFS 5JMÝ CBHF NFMMFN EZOFSOF TBE EFS FO CFOFU LWJOEF BG VCFTUFNNFÝ MJH BMEFS VEFO NBLFVQ NFE WJMUFSU IBMWMBOHU IgS PH LBGGFÝ CSVOF UrOEFS ,JOEFSOF IBOH #SZTUFSOF WBS JOEGBMEOF ,SPQÝ QFO WBS TrSEFMFT NBHFS JTrS BSNFOF WBS UZOEF PH PNLSJOH IBMTFO USgEUF LSBWFCFOFU BMU GPS UZEFMJHU GSFN %FU WBS GJOU BU WrSF TMBOL NFO +BOOF +FOTFO WBS EFDJEFSFU VOEFSFSOrSFU &OIWFS LVOOF TF EFU VEFO BU WrSF MrHF )VO MJHOFEF FU UJMGrMÝ EF BG OFSW T TQJTFWrHSJOH 4FMW KOFOF IBWEF NJTUFU EFSFT UJEMJHFSF HMBOT &EEFSLPQQFO Tg VE TPN PN IVO WFKFEF TJOF PSE O KF
%FOOJT +bSHFOTFO
56//&-."/%&/
%FU FS BMUTg JLLF FDTUBTZ PH EFU FS JLLF NJOF QJMMFS %FU FS CBSF OPHFO KFH IPMEFS GPS "THBS %V WFE TPNNF UJEFS LB NrOE JLLF FIN TFY LB HPEU WrSF TWrSU GPS OPHFO J QFSJÝ PEFS PH 4UFNNFO WBS MBW Qg HSrOTFO UJM WFOMJH "EFMFOF OJLLFEF CBSF QPUFOTQJMMFS TFS JLLF TgEBO VE EF FS CgEF TU SSF PH IBS BOEFSÝ MFEFT GPSN PH GBSWF +FH HgS J TLPMF OgS KFH IBS MVGUFU TJS #FEFWFSF TBHEF IVO UJM HVMWFU
%FOOJT +bSHFOTFO
56//&-."/%&/
%B "EFMFOF IBWEF MVGUFU TJS #FEFWFSF PH QBLLFU TJO UBTLF GPSÝ MPE IVO IVTFU %FO IVSUJHTUF SVUF UJM TLPMFO WBS TBNNF WFK TPN "THBS CFOZUUFEF OgS IBO LPN PH HJL )VO TNVUUFEF EFSGPS VE BE L LLFOE SFO PH IFO BE EFO MJMMF TUJ NFMMFN USrFSOF J CBHIBWFO %B IVO WBS Gg TLSJEU GSB SBGUFIFHOFU TLFUF OPHFU VGPSLMBSMJHU &O FLTUSFNU VOEFSMJH GPSOFNNFMTF GZMEUF IFOEFT TJOE %FO PQTUPE VE BG JOHFOÝ UJOH TMPH OFE TPN FU VTZOMJHU UBWTU MZO PH WBS Tg NBSLBOU BU EFO GJL IFOEF UJM BU TUPQQF "EFMFOF WFOEUF TJH NFE UBTLFO PWFS TLVMEFSFO PH TQFKEFEF SVOEU J EFO WJMEUWPLTFOEF IBWF )VO GPSWFOUFEF OrTUFO BU TF OPHFO NFO EFS WBS JOHFO IWBE WBS EcU EFU G MUFT FU TFLVOE TPN PN IFMF WFSEFO Qg cO PH TBNNF UJE GMZUUFEF TJH FU MBOHU TLSJEU PH NJO TKrM HKPSEF FU IPQ NFE EFU WBS EB LMBNU NJU MJW WJM NFHFU TOBSU GPSBOESF TJH KFH WFE JLLF PN EFU CMJ S CFESF FMMFS WrSSF NFO EFU CMJ S J IWFSU GBME BOEFSMFEFT QVIB NgTLF TQJTUF KFH GPS NFHFU UJM NPSHFO WS WM KFH TQJTUF PH ESBL QSrDJT EFU TBNNF TPN KFH BMUJE H S PH NrMLFO WBS GSJTL EFU IBS JOUFU NFE EcU BU H SF NFO OPHFU WJM BMUTg TLF EFU FS KFH PWFSCFWJTU PN * OUVJUJPOFO MJHOFEF NFHFU EFO IVO IBWEF IBGU EB IVO WgHÝ OFEF &O MJMMF LVMEFHZTOJOH TUS H PWFS OBLLFO )VO TNVUÝ UFEF IVSUJHU HFOOFN IVMMFU NFMMFN SBGUFIFHOFU PH OBCPFOT IrL 1g EFO BOEFO TJEF WBS FO UWrSHgFOEF HBOHTUJ TPN G SUF IFO UJM FO WJMMBWFK "EFMFOF LJHHFEF WBOFO USP FGUFS "THBST SBNQPOFSFEF HVMF
%FOOJT +bSHFOTFO
56//&-."/%&/
5PZPUB %FO QMFKFEF BU IPMEF IFS OgS IBO WBS Qg CFT H 4g LVOOF FKFSFO J UFPSJFO WrSF Qg CFT H J FU BG EF OrSNFTUF IVTF Qg QBSBMMFMWFKFO %FU WBS FU BG &EEFSLPQQFOT UZQJTLF QgGVOE PH cO BG HSVOEFOF UJM BU "EFMFOF IBWEF HJWFU TJO NPS EFU MJEFU GMBUUFSFOEF HFOBWO Þ TPN JOHFO BOESF J WSJHU LFOEUF /gS EFU HKBMEU PN BU VEUrOLF BQBSUF JEFFS WBS &EEFSLPQÝ QFO FO NFTUFS /PHFU WBS BMESJH CBSF FOLFMU NFE IFOEF %FS WBS FO CBHUBOLF NFE OrTUFO BMU IWBE IVO GPSFUPH TJH PH IVO T SHFEF TPN SFHFM GPS BU TQJOEF TJOF OrSNFTUF JOE J TJOF USgÝ EF 0H IWJT NBO JLLF QBTTFEF TrSMJH HPEU Qg CMFW IFMF LSPQÝ QFO WJLMFU JOE PH NBO WBS GrSEJH 4g LVOOF NBO IrOHF EcS UJM NPOTUFSFU LPN TUBL TJO HJGUCSPE J OBLLFO Qg cO PH TVHFEF IZMTUFSFU UPNU GPS MJW 4FMWG MHFMJH GPSFHJL EFU JLLF TgEBO J CPHTUBWFMJH GPSTUBOE NFO "EFMFOF WBS PWFSCFWJTU PN BU EFU WBS NFE EFO GBOHTUÝ NFUPEF &EEFSLPQQFO PQSJOEFMJHU IBWEF MPLLFU "EFMFOFT GBS JOE Qg TJU OFU PH WVOEFU IBOT LrSMJHIFE %FU WBS NFHFU NVÝ MJHU BU (FFOB .JMMBSB Þ FMMFS +BOOF +FOTFO TPN EFS TUPE Qg IFOÝ EFT EgCTBUUFTU Þ MJHOFEF OPHFU LBUUFO IBWEF USVLLFU CBHMrOT JOE HFOOFN MFNNFO OgS "EFMFOF LPN PQ NFE CBLLFO PN NPSHFOFO NFO GPS gS UJMCBHF IBWEF IVO TFU WJSLFMJH HPEU VE %FTWrSSF IBWEF &EEFSLPQQFOT BGIrOHJHIFE BG TQJSJUVT Þ PH gCFOCBSU PHTg FDTUBTZ Þ EFMBHU IFOEFT IFMCSFE PH IVO LPN FGUFSIgOEFO TKrMEFOU VEFO GPS IVTFU "THBS PH "EFMFOF ErLLFEF Qg IWFS TJO NgEF TQJOEMFSLWJOÝ EFOT CFIPW PH EB IVO J TOBSU NFHFU MBOH UJE IBWEF WrSFU BSÝ CFKETM T Tg IVO GPSNFOUMJH JOHFO HSVOE UJM BU H SF OPHFU VE BG TJH TFMW )WFSLFO VEWPSUFT FMMFS JOEWPSUFT 5WrSUJNPE IBWÝ EF IVO GPSTLBOTFU TJH TPN FO BOEFO (SFUB (BSCP Qg WFSÝ TUF FUBHF J 7JMMB (FFOB J QBUFUJTL TFMWNFEMJEFOIFE NFOT IVO
%FOOJT +bSHFOTFO
56//&-."/%&/
ES NUF PN BU H SF LBSSJFSF J UFBUFSÝ PH GJMNWFSEFOFO 4PN FOFCBSO BSWFEF +BOOF +FOTFO TJOF GPSrMESF PH TQFOEFÝ SFEF EFSFT GPSNVF %B EFO Tg WBS CSVHU PQ GBOHFEF IVO "EFÝ MFOFT GBS JOE J TJU TQJOE PH BSWFEF IBN PH OV WBS EcO GPSNVF TUPSU TFU PHTg GPSN CMFU Tg "EFMFOF PH IVO TFMW NgUUF MFWF BG GPSIPMETWJT CFTLFEOF CFM C &EEFSLPQQFO IBWEF EPH WrSFU GPSVETFFOEF Þ PH IFMEJH Þ Qg cU QVOLU 'PS gS UJMCBHF IBWEF IVO TLSFWFU NPEFMLPOUSBLU NFE FU LFOEU TrCFQVMWFSGJSNB EFS IBWEF BOWFOEU IFOEF J FO TFSJF SFLMBNFS GPS EFSFT QSPEVLUFS %FU WBS MZLLFEFT (FFÝ OB .JMMBSB BU MBWF FO SFU MVLSBUJW LPOUSBLU NFE TU UUF GSB FO TNBSU BEWPLBU TPN IVO IBWEF IBGU FO BGGrSF NFE TJEFM CFOÝ EF NFE rHUFTLBCFU NFE "EFMFOFT GBS %FU WBS FOEEB NFOT IVO WFOUFEF "EFMFOF "GUBMFO TJLSFEF JLLF BMFOF &EEFSLPQQFO FO QrO FOHBOHTÝ TVN GPS LBNQBHOFO NFO PHTg M CFOEF JOEUrHUFS IWFS HBOH IFOEFT QPSUSrU CMFW CSVHU 1g TJU CFTLFEOF QMBO WBS (FFOB .JMMBSB EFSGPS JOEFO GPS MBOEFUT HSrOTFS MJHF Tg LFOEU TPN *SNBÝQJHFO FMMFS .JDIFMJOÝ NBOEFO ,PODFSOFO HFOCSVHUF EFO HMBUUF TrCFNPEFM J EFSFT OZÝ FSF QSPEVLUFS WFE IKrMQ BG TJNQFM GPUPTIPQ PH IWFS HBOH UJLLFEF EFS QFOHF JOE Qg &EEFSLPQQFOT LPOUP #FUBMJOHFO WBS JLLF GZSTUFMJH NFO EFO WBS BMMJHFWFM OPL UJM BU "EFMFOF PH IFOEFT NPS LVOOF CMJWF CPFOEF J 7JMMB (FFOB Gg NBE Qg CPSEFU PH U K Qg LSPQQFO %JTTF VEHJGUFS WBS EFTWrSSF JLLF MrOHFSF EF TU STUF 4rCFÝ EJWBFOT TUJHFOEF TQJSJUVTÝ PH QJMMFNJTCSVH ESrOFEF LBTTFO NFE OPHFOMVOEF MJHF Tg CFLZNSFOEF IBTU TPN TUPGGFSOF UrÝ SFEF Qg IFOEFT LSPQ
%FOOJT +bSHFOTFO
56//&-."/%&/
EFMFOF WBS USPET TJO VOHF BMEFS NFHFU CFWJETU PN QSPCMFÝ " NFU NFO IVO LVOOF JLLF M TF EFU BMFOF )VO IBWEF GPST HU BU Gg &EEFSLPQQFO UJM BU T HF IKrMQ %FU WBS JLLF CMFWFU QPTJÝ UJWU NPEUBHFU 'PS EFU G STUF CFOrHUFEF (FFOB .JMMBSB BU IVO IBWEF FU QSPCMFN GPS EFU BOEFU CMFW IVO Tg GPSOrSNFU BU IVO HBW "EFMFOF FU TMBH J BOTJHUFU %FU LPTUFEF FU CMgU KF PH FO VHF NFE TNFSUFS J LrCFO &EEFSLPQQFO IBWEF HBOTLF WJTU VOETLZMEU CBHFGUFS PH TBHU BU EFU JLLF WBS NFOJOHFO BU SBNÝ NF NFE LOZUUFU IgOE )VO TLVMMF CBSF IBWF IBGU FO MVTTJOH Þ TPN PN EcU HKPSEF TBHFO CFESF Þ NFO TJEFO EFO EBH IBWÝ EF "EFMFOF UBCU NFHFU GPS TJO NPS PH EF PQIPMEU TJH GPS EFU NFTUF J IWFS TJO FOEF BG IVTFU IWJT EF JLLF FO TKrMEFO HBOH TQJTUF BGUFOTNBE TBNNFO FMMFS N EUFT Qg WFK UJM PH GSB CBEFÝ WrSFMTFU FMMFS L LLFOFU %FS IBS WJ KP 5PTTFÝ"EEZ "EFMFOF ESFKFEF IPWFEFU FGUFS SgCFU )FOEFT NBWF LSZNÝ QFEF TJH %FU WBS 'SFKB PH UP BG LMBTTFNFEM CFSOF -BVSB PH .BK %F LPN DZLMFOEF J TBNNF SFUOJOH TPN IVO HJL "EFÝ MFOF LSZETFEF GJOHSF PH IgCFEF JOEFSMJHU Qg BU EF WJMMF L SF GPSCJ %F NgUUF HFSOF SgCF CBSF EF WJMMF MBEF IFOEF J GSFE 'PSIgCOJOHFSOF CSBTU EB 'SFKB Þ LMBTTFOT TFMWVESgCUF MFEFS Þ CSFNTFEF PQ PH USJMMFEF J GSJIKVM WFE TJEFO BG IFOEF )WB Tg &S EJO HBNMF MPSUFDZLFM PNTJEFS SVTUFU NJEU PWFS "EFMFOF IBEFEF IFOEFT JEJPUJTLF HSJO NFO IVO TBHEF JOÝ HFOUJOH %FU WBS EFU LMPHFTUF &S EV EVN FMMFS CBSF TUVN 'SFKB WBS UFLOJTL TFU L O NFE TJU MZTF IgS WBOECMg KOF I Ý KF LJOECFO PH USVUNVOE 7PLTOF GBOEU IFOEF TPN SFHFM ZOÝ EJH PH GSFNNFEF ESFOHF CMFW UJU JOUFSFTTFSFEF Þ J IWFSU GBME JOEUJM VIZSFU BGNBTLFEF TJH TFMW .FO 'SFKB WBS TOV PH LVOOF
%FOOJT +bSHFOTFO
56//&-."/%&/
WrSF Tg OVUUFU BU GPML EFS JLLF LFOEUF IFOEFT TBOEF KFH MFU MPE TJH OBSSF )VO WBS NJOETU MJHF Tg VETQFLVMFSFU TPN &EÝ EFSLPQQFO PH USPET TJO VOHF BMEFS OrTUFO FO CFESF TLVFTQJMÝ MFS /gS EFU CFI WFEFT LVOOF 'SFKB TQJMMF Tg VTLZMEJH TPN FO OPOOF J FU CFOFEJLUJOFSÝLMPTUFS )VO LVOOF LMZOLF Qg LPNÝ NBOEP TPN FO QJTLFU IVOE PH GMrCF BU EFU WBS OPHFO BOESF EFS UWBOH NJH UJM EFU TFMW PN FOIWFS WJETUF BU IVO WBS IKFSÝ OFO CBH GMFSF POETLBCTGVMEIFEFS FOE TBNUMJHF TVQFSTLVSLF J +BNFT #POEÝGJMNFOF 'SFKB BGHKPSEF TVWFSrOU IWFN EFS WBS )05 J LMBTTFO PH IWFN EFS WBS /05 4FMW ESFOHFOF IBWEF SFTQFLU GPS EFO MJMMF EJLUBUPS GPSEJ IVO WBS Tg SBQ J LrGUFO PH LVOOF TrUUF TJOF KrWOBMESFOEF UJM WrHT NFE FO PNIZHHFMJH VEWBMHU PH ZEFSTU HFNFO LPNNFOUBS "EFMFOF IBWEF PQMFWFU FO HSrEFOEF ESFOH EFS HJL IKFN GPSEJ 'SFKB IBWEF TBU EFU SZHUF J PNM C BU 0MJWFST NPS J WJSLFMJHIFEFO FS FO PNCZHHFU NBOE Þ IWJMÝ LFU TFMWG MHFMJH JLLF QBTTFEF 'SFKB WBS TQFDJBMJTU J BU PQTOVTF IFNNFMJHIFEFS TNVET PH TWBHIFEFS PN BMMF Tg IVO LVOOF VEOZUUF EFU TFOFSF IWJT EFS CMFW CSVH GPS EFU 0H WBS EFS JLLF OPHFU BU GJOEF LVOOF IVO BMUJE TFMW EJHUF FO M HO &OUFO CMFW EJTTF PGGFOUMJHHKPSU J GSJÝ LWBSUFSFSOF TPN FO GPSN GPS NVOEUMJH FLTBNFO TFOEU SVOEU TPN TNT FMMFS MBHU TPN JOEMrH Qg QPQVMrSF C SOFDIBUT Qg OFUUFU * "EFMFOFT UJMGrMEF WBS DIJLBOFO O EU UJM BU GPSFHg NVOEUÝ MJHU GPSEJ IVO IWFSLFO FKFEF FO NPCJMUFMFGPO FMMFS FO DPNÝ QVUFS %FUUF HBW J TJH TFMW 'SFKB NVMJHIFE GPS BU NPCCF "EFÝ MFOF GPS IFOEFT IgCM TF TUFOBMEFSMJW J 7BNQZSFSOFT sSFTCPMJH TPN IVO IBWEF PNE CU 7JMMB (FFOB
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56//&-."/%&/
MMJHFWFM WBS "EFMFOF EFO FOFTUF J LMBTTFO TPN 'SFKB JLLF " LVOOF USZOF .gTLF GPSEJ "EFMFOF WBS WBOU UJM BU ESJCMF NFOÝ UBMU NFE &EEFSLPQQFO PH WJETUF IWJMLFO UBLUJL EFS WBS CFETU J FOIWFS TJUVBUJPO %FU WBS FU UZEFMJHU JSSJUBUJPOTNPNFOU GPS 'SFKB NFO HBW TBNUJEJH FO VOEFSMJH TLKVMU SFTQFLU GPSEJ 'SFKB WBS VTJLLFS Qg IWPSGPS LVHMFS TPN HFOOFNCPSFEF BMMF BOESF QSFMMFEF BG Qg "EFMFOF %F UP IBWEF cO HBOH WrSFU UrU Qg SFHVMrS TMgTLBNQ GPSEJ 'SFKB IBWEF UBHFU FO BG "EFMFOFT C HFS Þ NFOT IVO MrTUF J EFO Þ PH TNJEU EFO VE BE WJOEVFU ,BNQFO IBWEF EPH JLLF OgFU BU VEWJLMF TJH GPSEJ EFS WBS LPNNFU FO MrSFS J WFKFO * NPETrUOJOH UJM 'SFKB TPN WJMMF IBWF VEOZUUFU TJUVBUJPOFO PH PQG SU FU TU SSF 4IBLFTQFBSFÝESBNB IBWEF "EFMFOF IPMEU NVOE PN gSTBHFO UJM LPOGSPOUBUJPOFO *LLF GPSEJ IVO JLLF UVSEF NFO GPSEJ IVO TZOUFT EFU WBS GFKU )VO LVOOF WFOUF &O EBH WJMMF OFNFTJT SBNNF 'SFKB %FU WBS IVO PWFSCFWJTU PN )BS EV GgFU UVOHFO TLgSFU BG J CBSCFSNBTLJOFO SgCUF 'SFKB GSVTUSFSFU PWFS BU EFS JLLF WBS OPHFO SFTQPOT "EFMFOF GPSFTUJMMFEF TJH BU IFOEFT QMBHFgOE TMFU JLLF FLTJÝ TUFSFEF PH HJL SPMJHU WJEFSF %F IBS HJWFU IFOEF FMFLUSPDIPL HSJOFEF 'SFKB UJM TJO CBDLJOHHSPVQ EFS OgFEF PQ CBH IFOEF %FU WBS THV PTTF Qg I KF UJE +FH USPS CBSF JLLF EFU IKrMQFS TWBSFEF -BVSB EFS WBS 'SFÝ KBT QSPQBHBOEBÝNJOJTUFS PH BMUJE LMBS NFE PQCBLOJOH /FK 5PTTFÝ"EEZ FS LSBGU NF Tg EVN BU IVO IBS CZUUFU IKFSÝ OF NFE FO BCF GSB [PPMPHJTL IBWF UJMG KFEF .BK EFS Mg LMBSU OFEFSTU J IJFSBLJFU PH IWFSLFO Qg VETFFOEF QFOHF FMMFS TUBUVT LVOOF IrWEF TJH OrS Tg I KU TPN 'SFKB FMMFS -BVSB )VO WBS
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56//&-."/%&/
NFTU NFE TPN FO TMBHT IFBWZ IWJT EFS CMFW CSVH GPS GZTJTL VEGPMEFMTF .BK WBS FO MBOH MFEEFM T QJHF HPE UJM BU M CF PH MBOHF MVTTJOHFS VE 0H Tg WBS IVO S EIgSFU HSPW J NVOEFO PH NFHFU MJEU DIBSNFSFOEF )WB FS EFU GPS OPHMF TMrWFSF EV WBEFS SVOEU J HSJOFEF 'SFKB NVOUFSU PH LOFKTFEF I KU Qg TJO TQMJOUFSOZF SBDFSDZLFM J TVQFSMrLLFSU NrSLFU K &S EFU OPHFO TLP EV IBS TDPSFU J FO DPOUBJOFS FMMFS GVOEFU Qg FO MPTTFQMBET +FH IBS I SU BU EFO TMBHT KBLLFS WBS Qg NPEF GPS gS TJÝ EFO CJESPH -BVSB &S EFU cO GSB EJO NPST VOHEPN )PME LrGU CSVNNFEF .BK IWJT TUFNNF M E TPN FO ESFOH J PWFSHBOH 4rCFCJUDIFO WBS THV EB VOH GPS NJOETU gS TJEFO "EFMFOF TVLLFEF JOEWFOEJHU )VO WBS JLLF CBOHF GPS EFN PH IVO WJETUF O KBHUJH IWPS LOJWFO TLVMMF TUJLLFT JOE GPS BU QJMMF EFN OFE NFO IVO WBS JLLF J IVN S UJM FO LPOGSPOUBÝ UJPO &EEFSLPQQFO PH EF TNg QJMMFS J LVWFSUFO CMFW WFE NFE BU SVNTUFSF J CBHIPWFEFU )WJT 'SFKB OPHFOTJOEF GBOEU VE BG EcO IFNNFMJHIFE WBS EFU VEF PWFS IFMF TLPMFO J M CFU BG LPSU UJE %FU WBS SJHFMJHU BU EF USF JEJPUFS KrWOMJHU IrOHUF HBNMF WBTLFQVMWFSSFLMBNFS NFE NPSFOT LPOUSBGFK PQ J LMBTÝ TFO PH VOHEPNTGPUPT GSB UP GJMN IWPS IVO IBWEF FU QBS TNg SPMMFS "EFMFOF IBWEF TFU LMJQ GSB EJTTF GJMN WJB JOUFSOFUUFU PWSF Qg CJCMJPUFLFU PH GPSUSVEU NFO OZTHFSSJHIFE IBWEF ESFWFU IFOÝ EF 'PSgS J %ZSFIBWFO WBS JLLF EFDJEFSFU QPSOP NFO EFU WBS J IWFSU GBME ESZ IVNQ EPH JLLF NFE &EEFSLPQQFO J OPHFO LPNQSPNJUUFSFOEF TDFOFS PH $BGc +PNGSV T NVOUSF U TFS WBS FO NJMEFTU UBMU EJMFUUBOUJTL LPNFEJF EFS IWFSLFO WBS NPSTPN FMMFS PSEFOUMJHU JOTUSVFSFU &EEFSLPQQFO TQJMMFEF WFOJOEF UJM
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IPWFESPMMFO PH IFOEFT SFQMJLLFS Þ USF J BMU Þ CFTUPE J BU SgCF 5BYB CFTUJMMF M PH BGWJTF FO GVME CBSHrTU NFE EF VE EFÝ MJHF PSE +FH IBS THV CPMMFU CFESF NrOE FOE EJH GPS GrSSF QFOHF )BMMP &S EV E W SgCUF .BK PH USBL "EFMFOF UJMCBHF UJM WJSLFMJHIFEFO "SI IVO IBS MPSU J SFSOF WSrOHFEF -BVSB * HVEFS IWPS FS EV HSJN SgCUF 'SFKB J FU VJOTQJSFSFU GPSÝ T H Qg BU UJSSF ,B KFH Gg OBWOFU Qg EJO GSJT S #BSF Tg KFH LB TLZOEF NJH GPSCJ IWJT KFH TLV LPNNF Qg EF LBOUFS -BVSB PH .BK HSJOFEF CFSFEWJMMJHU "EFMFOF rOESFEF CFTMVUOJOH PH TLJGUFEF UBLUJL )WJT EFU WBS LPOGSPOUBUJPO EF WJMMF IBWF Tg TLVMMF EF Gg EFU )VO HKPSÝ EF EFU NPETBUUF BG IWBE EF GPSWFOUFEF %F GMFTUF C SO TPN CMFW NPCCFU LJHHFEF FOUFO OFE J KPSEFO FMMFS FO BOEFO WFK Tg "EFMFOF HJL J BOHSFCTQPTJUJPO %FU WJMMF WrSF GPS GKPMMFU BU TF SVOEU Qg EFN BMMF USF Tg IVO LPODFOUSFSFEF TJH PN 'SFKB PH TUJSSFEF Qg IFOEF *LLF WSFEU JLLF IgOMJHU NFO CMPU GVMEÝ TUrOEJH HFOOFNCPSFOEF UPNU TPN PN IVO Tg MJHF JHFOOFN FO HMBTE S 'SFKB HMPFEF UJMCBHF NFO J M CFU BG Gg TFLVOEFS PQTUPE EFS UWJWM J IFOEFT KOF #MJLLFU GMBLLFEF NPE -BVSB PH .BK EFS ESFKFEF VEFO PN FO QBSLFSFU CJM 'SFKB Tg BSSJHU UJMCBHF Qg "EFMFOF )WB HMPS EV Qg EJO BC 'SFKB LOBMEFEF EJSFLUF JOE J CJMFOT CBHTNrL NFE FU PSÝ EFOUMJHU CSBH %FU CMFW FGUFSGVMHU BG IWJOFOEF PH TLSBNMFOEF MZEF EB LMBTTFOT EJLUBUPS S H J KPSEFO GPS GVME UrMMJOH "EFÝ MFOF USPFEF JLLF TJOF FHOF KOF %FU WBS TJNQFMU IFO GPS HPEU UJM BU WrSF TBOEU -BVSB PH .BK CSFNTFEF PQ PH Tg PWFSSBTLFEF Qg WFOJOEFO
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EFS Mg Qg BTGBMUFO NFE FU BG EF NFTU LPNJTLF VEUSZL "EFMFOF OPHFOTJOEF IBWEF TFU )VO WJETUF HPEU BU EFU WBS Qg HSrOTFO UJM TFMWNPSE NFO IVO LVOOF JLLF MBEF WrSF %FU WBS OV IWJT IVO TLVMMF IBWF TLPWMFO VOEFS 'SFKB )FS WBS FO FOFTUgFOEF DIBODF 5ZSFO WBS IgSEU TgSFU /gEFTU EFU LVOOF TrUUFT JOE "EFMFOF TUJMMFEF TJH Qg LBOUFO BG GPSUPWFU NFE BSNFOF PWFS LPST NFOT IVO Tg PWFSCrSFOEF OFE Qg ,BNJLB[FÝ'SFKB EFS Mg GPSUVNMFU VOEFS DZLMFO J TJU EZSF NrSLFU K 5BTLFO Qg SZHÝ HFO WBS UVOHU MBTUFU NFO OrQQF Tg NFHFU NFE C HFS TPN NFE BMU EFU MPSU QSJNBEPOOBFO QMFKFEF BU TMrCF NFE J TLPMF GPS BU QSBMF NFE IWBE IVO OV IBWEF QMBHFU TJH UJM IPT TJOF IgSEU QS WFEF GPSrMESF 3ZHTrLLFO VEHKPSEF FO CFUSBHUFMJH E EWrHU EFS TBNNFO NFE DZLMFOT QPTJUJPO CFWJSLFEF BU 'SFKB GBLUJTL JLLF LVOOF SFKTF TJH WFE FHFO IKrMQ GPSEJ IFOÝ EFT FOF CFO WBS J LMFNNF VOEFS CBHIKVMFU "EFMFOF WBS OgEFTM T )VO TBHEF JOHFOUJOH SZTUFEF CBSF MFU Qg IPWFEFU PH UTL FEF Tg UZEFMJHU BU IWFSLFO EFO GBMEOF DZLFMTUKFSOF FMMFS IFOEFT IKrMQFSZUUFSF LVOOF VOEHg BU I SF EFU PMc 'SFKBT BOTJHU WBS FO WBOUSP NBTLF BG DIPL PH GPSCBWTFMTF TPN PN IVO IBWEF TWrSU WFE BU GBUUF IWBE EFS WBS TLFU %F WBOECMg KOF EFS OPSNBMU WBS GVMEF BG LPOUSPM TW NNFEF TPN GPSUBCUF GJTL J FU QBS IVMMFS Qg HSrOTFO UJM BU GMZEF PWFS "EFMFOF PWFSWFKFEF PN IVO TLVMMF M GUF BSNFO PH HJWF 'SFKB FO OFEBEWFOEU UPNNFMGJOHFS NFO Qg FO NgEF WBS EFU GPS NFHFU 'PS QMBU 'PS VWrSEJHU 5ZSFO WBS GrSEJH %FU WBS GPSNgMTM TU FOEOV FO HBOH BU TUJLLF TWrSEFU J FU E ETE NU EZS 'SFKB WJETUF BU IVO IBWEF UBCU Þ PH FOEOV WrSSF "EFMFOF
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WJETUF EFU 'SFKB HMPFEF Qg TJO IgOE EFS CM EUF PWFSGMBEJTL %FS WBS I KTU UBMF PN FO HFNcO IVEBGTLSBCOJOH NFO EFU WBS EFO CFS NUF ESgCF )WB UJTLFS EV BG EJO MPSUF TLJE IZMFEF IVO BGNrHUJH NFOT UgSFSOF SFOEUF PWFS LJOEFSOF PH IVO BSSJHU WSFE TJH Qg KPSEFO J FU GPST H Qg BU LPNNF GSJ 4g IKrMQ NJH EPH GPS IFMÝ WFEF ) FOEFT GVMETUrOEJH IZTUFSJTLF GBMTFU USJHHFEF -BVSB PH .BK %F TMBQ EFSFT FHOF DZLMFS Tg EF GBMEU TLSBNMFEF PN Qg WFKFO PH M C IFO GPS BU IKrMQF 'SFKB PQ -BVSB USBL J DZLMFO JOEUJM EFS M E FU CFLZNSFOEF SJUTDI GSB 'SFKBT LPTUCBSF KBLLF TPN IBOH GBTU J TBEMFO 4UPQ 4UPQ %V SJWFS NJU U K J TUZLLFS -BVSB IPMEU JHFO .BK M TOFEF J TUFEFU UBTLFO Tg 'SFKB LPN GSJ BG EFO PH LVOOF SFKTF TJH )VO TUPE MJEU PH MJHOFEF cO EFS WBS EVNQFU OFE GSB WFSEFOTSVNNFU )FOEFT IrOEFS PH MrÝ CFS SZTUFEF PH IVO TBOL OPHMF QJOFGVMEF LMZOL J GPST HFU Qg JLLF BU HSrEF I KU NFOT IVO U SSFEF UgSFS WrL NFE IgOESZHÝ HFO )VO WVSEFSFEF EFU JUVSFWOF rSNF %FS WBS OrQQF UWJWM PN BU KBLLFO WBS GrSEJH )VO Tg SBTFOEF Qg "EFMFOF EFS CMFW TUgFOEF 'SFKB TLSFH VLPOUSPMMFSFU %FU FS PTTF EJO TLZME EJO MFEF QJLTP "EFMFOF CMFW WSFE *LLF BMFOF PWFS EFU LPNQMFU VSFUGrSEJHF J BOLMBHFO NFO MJHF Tg NFHFU PWFS EFU TBNNFOLPH BG IrOÝ EFMTFS EFS BMMFSFEF WBS TLFU J EBH "THBS TPN IBWEF TFU IFOEF O HFO &EEFSLPQQFOT ZOLWrSEJHF GSFNUPOJOH J TFOHFO NgÝ EFO IVO TPN FO BOEFO IBWOFBSCFKEFS CrMMFEF FO HVME M EJÝ SFLUF GSB GMBTLFO JOEFO IVO PWFSIPWFEFU WBS TUgFU VE BG TFOÝ HFO NFO NFTU BG BMU WBS EFU EF GPSCBOEFEF TNg IWJEF QJMMFS J LVWFSUFO "EFMFOF NgUUF IBWF MVGU
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56//&-."/%&/
+FH LB THV EB JLLF H SF GPS BU EV JLLF LB L SF Qg DZLFM )WPSGPS IBS EV PTTF UBHFU TU UUFIKVMFOF BG %FU WBS TWrSU BU BGH SF IWFN BG EF USF GKFOEFS EFS CMFW NFTU DIPLFSFU %FU WBS TKrMEFOU BU OPHFO PWFSIPWFEFU HBW 'SFKB WFSCBMF UrTL PH OgS EFU Tg PWFO J L CFU WBS JCMBOEFU EZC TBSLBTNF CMFW EFU OrSNFTU VCrSMJHU 'SFKB IWJOFEF TPN FO GBCSJLTGM KUF PH G S GSFN NPE IFOEF )VO MBOHFEF VE FGUFS "EFMFOF NFO "EFMFOF TQSBOH BESrU WrL Tg 'SFKB TOVCMFEF PWFS LBOUTUFOFO PH NgUUF FO UVS J KPSÝ EFO FOEOV FO HBOH 1MVETFMJH TBE IVO WSrMFOEF EcS Qg GPSUPÝ WFU NFE TOPUUFU M CFOEF VE BG OrTFO TPN FO ÝgSJH MJHFHMBE NFE IWPS IVO WBS FMMFS IWFN EFS Tg EFU NFOT IVO IPMEU CFHÝ HF IgOEGMBEFS PQ 'MrOHFO J KBLLFO IBWEF OV GgFU TFMTLBC BG FU NJOESF IVM Qg LOrFU J IFOEFT NrSLFCVLTFS )BWEF EFU WrSFU FOIWFS BOEFO FOE 'SFKB IBWEF "EFMFOF OPL GPSCBSNFU TJH WBS HgFU IFO PH IBWEF UJMCVEU GSFE NFO IFS WFOEUF IVO HBOTLF FOLFMU SZHHFO UJM GPS BU Hg TJO WFK 4JUVÝ BUJPOFO WBS JLLF WrSEJH GPS OPHFO 1MVETFMJH CMFW IVO HSFCFU IgSEU CBHGSB BG FU QBS TUrSLF IrOEFS ,PN Tg 'SFKB 4UJL IFOEF OP O Qg IPWFEFU NFOT KFH IPMÝ EFS PQGPSESFEF .BKT IrTF TUFNNF "EFMFOF GPST HUF BU SJWF TJH M T NFO .BK IBWEF SJHUJH HPEU GBU 'SFKB TLZOEUF TJH Qg CFOFOF 4BNUJEJH USgEUF -BVSB JOE GSB WFOTUSF )VO IBWEF TJO NPCJMUFMFGPO GSFNNF PH LPNNBOEFÝ SFEF TPN PN 'SFKB WBS FO IVOE EFS TLVMMF BOHSJCF +B 1g IFOEF 4NBES IFOEFT HSJNNF GKrT #SVH LOZUOrWFS +FH GJMNFS EFU "EFMFOF QS WFEF JHFO BU LPNNF GSJ NFO .BK WBS TUrSLFSF PH EFS WBS JLLF NBOHF TFLVOEFS UJM BU LrNQF 'SFKB LPN GBÝ SFOEF NFE UJMM C OrSNFTU TPN PN IVO TLVMMF TQSJOHF PWFS
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FO g )FOEFT I KSFIgOE TVTFEF SVOEU J FO CVF GPS GVME LSBGU ,OZUOrWFO TBE LMPLLFSFOU J LJOEFO %FTWrSSF GPS -BVSB WBS EFU IFOEFT LJOE GPSEJ "EFMFOF WSFE PH EVLLFEF TJH 0H TPN PN EcU JLLF WBS OPL UPH -BVSBT TUJMGVMEF NPCJMUFMFGPO NFE TJNJMJÝEJBNBOUFS EFS HMJNUFEF J NPSHFOTPMFO Qg IJNNFMÝ GMVHU UWrST PWFS WFKFO PH CMFW TQMJOUSFU NPE FO DPOUBJOFS EFS TUPE Qg EFO NPETBUUF TJEF .FO EFU IBWEF FKFSFO JLLF PWFSÝ TLVE UJM BU CFLZNSF TJH PN MJHF J KFCMJLLFU -BVSBT NVOE WBS FU HBCFOEF IVM BG S EU #MPEFU GPTTFEF VE GSB IFOEFT UVOHF PH IVO TUBL J FU TLJOHFSU IWJO EFS GBLUJTL TMPH 'SFKBT Qg EFDJCFMÝ TLBMBFO "EFMFOF SFW TJH M T GSB .BK EFS OPL J PWFSSBTLFMTF HMFNUF BU IPMEF GBTU )VO TOVCMFEF PH GBMEU IBMWU JOE J CVTLFOF TPN WPLTFEF MBOHT GPSUPWFU "EFMFOF M C "MU IWBE IVO LVOOF /V TLVMMF IVO CBSF WrL /V WBS EFU JLLF TKPWU MrOHFSF )VO SFOEUF TBNNF WFK UJMCBHF TPN IVO WBS LPNNFU CPSU GSB TLPMFO NFO EFU WBS MJHFHZMÝ EJHU )VO TLVMMF JLLF J TLPMF J EBH 6OEFS JOHFO PNTUrOEJHÝ IFEFS .BK SgCUF CBHVEF /PHFU EFS TMVUUFEF NFE GBU J EJH "EFMFOF LVOOF HrUUF TJH UJM SFTUFO )VO Tg TJH PWFS TLVMEFÝ SFO *OHFO GPSGVMHUF IFOEF "MMJHFWFM CMFW IVO WFE NFE BU M CF
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%BHFO MJHOFEF FOIWFS BOEFO EBOTL PLUPCFSEBH NFO "EFÝ MFOF WJETUF BU EFO JLLF WJMMF GPSUTrUUF TgEBO /PHFU WJMMF TLF %FU WBS IVO TJLLFS Qg %FO WBS BMMFSFEF TUBSUFU VTrEWBOMJHU *LLF GPSEJ EFU WBS VTrEWBOMJHU BU IVO CMFW NPCCFU NFO VEÝ GBMEFU WBS FO GPSBOESJOH )VO IBWEF WVOEFU FO TFKS PWFS 'SFÝ KB PH EF BOESF %FU HBW FO HPE GPSOFNNFMTF J LSPQQFO PH IWBE LPOTFLWFOTFSOF FWFOUVFMU CMFW OrTUF HBOH IVO N EUF EFN HBE IVO JLLF TQFLVMFSF Qg OV %FU WBS 'SFKBT FHFO GPSÝ CBOEFEF GFKM )FMF WFKFO JHFOOFN )VO WBS TJLLFSU GPS EVN UJM BU GPSTUg EFU &MMFS GPS GFK &MMFS CFHHF EFMF "EFMFOF CFTMVUUFEF BU IPMEF GSJ SFTUFO BG EBHFO %FU CFU E JOHFOUJOH )VO WBS FO BG EF EZHUJHTUF J LMBTTFO PH EFU WBS JLLF OPHFU IVO TFMW NFOUF NFO OPHFU MrSFSOF TBHEF 0H EFU FOEEB NFE FO NJOJNBM JOETBUT "EFMFOF WBS JLLF CBSF IVSÝ UJHUPQGBUUFOEF NFO PHTg WJEFCFHrSMJH PH MrTUF NBOHF C HFS GSB CJCMJPUFLFU CgEF SPNBOFS GBHMJUUFSBUVS PH TgHBS BWJTFS %FU GBMEU HPEU J USgE NFE IFOEFT MJWTPQGBUUFMTF )VO WBS MJEU HBNNFMLMPH PH IBWEF IVO HgFU NFE CSJMMFS IBWEF IVO WrSFU BSLFUZQFO Qg FO QJHFO SE -JHF Tg MFWFOEF PH FOFSHJTL PH QPTJUJW "EFMFOF NgTLF GSFNÝ TUPE GPS GPML EFS JLLF LFOEUF IFOEF MJHF Tg NFMBOLPMTL PH JOEBEWFOEU WBS IVO PGUF )VO CJMEUF TJH TFMW JOE BU EFU TLZMEÝ UFT IFOEFT OBUVS )FOEFT GBS IBWEF WrSFU Qg TBNNF NgEF &O UBWT NFO WFOMJH PH FMTLFMJH NBOE TPN "EFMFOF IBWEF NJTUFU LPSU FGUFS TJO ÝgST G ETFMTEBH %F UP IBWEF GPSTUgFU
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IJOBOEFO Qg FO HBOTLF TrSMJH NgEF IWPS PSE JLLF WBS O EÝ WFOEJHF "EFMFOF WBS GPS MJMMF UJM BU GPSTUg EFU NFO TFOFSF WBS IVO CMFWFU LMBS PWFS BU EFU QMBHFEF &EEFSLPQQFO EFS G MUF TJH VEFOGPS %FU IBWEF WrSFU gSTBHFO UJM FO EFM WPMETPNNF TLrOEFSJFS NFMMFN GPSrMESFOF 'BSFO LVOOF HPEU UBHF CMBEFU GSB NVOEFO IWJT EFU QBTTFEF IBN PH NBUDIF &EEFSLPQQFO J FO PSEEVFM 4g "EFMFOF IBWEF BSWFU MJEU BG CFHHF EFMF CgEF EFO VEBEWFOEUF PH BLUJWF OBUVS NFO PHTg EFO NFSF EZCTJOÝ EJHF PH LPODFOUSFSFEF Tg IVO LVOOF MJHHF PH MrTF J UJNFWJT Þ KB J GFSJFSOF PGUF EFU NFTUF BG E HOFU Þ JOEUJM &EEFSLPQQFO QMVETFMJH TUPE J E SFO UJM IFOEFT WrSFMTF JG SU CBEFLgCF PH FU HMBT HJO UPOJD Þ UZQJTL IBMWGVME PH NFE FU TM SFU CMJL Þ NFOT IVO NVNMFEF )WPSGPS MJHHFS EV BMUJE PH MrTFS J EF C HFS )WPS LMPH TLB EV FHFOUMJH WrSF )WPSGPS HgS EV JLLF VE PH MFHFS NFE EJOF WFOOFS %FO NFE WFOOFSOF TLBS MJEU J IKFSUFU %FU VUSPMJHF WBS BU "EFMFOF JLLF IBWEF OPHFO KrWOBMESFOEF WFOOFS FMMFS WFOJOÝ EFS %FU WBS Qg FO NgEF TFMWWBMHU JTrS JOEFO GPS EF TFOFTUF UPÝUSF gS )VO IBWEF TLBN MFHFU NFE BOESF C SO EB IVO WBS NJOESF NFO OPHFO CFTUFNU GBTU HPE WFOJOEF IBWEF IVO JLLF %FU WBS JLLF GPSEJ IVO JLLF LVOOF Gg LPOUBLU %FU LVOOF IVO TBHUFOT %FU TLFUF KrWOMJHU BU FO ESFOH FMMFS FO BOEFO QJÝ HF OrSNFEF TJH PH CFHZOEUF BU TOBLLF "EFMFOF WBS OrTUFO BMESJH BGWJTFOEF GSB TUBSUFO 5WrSUJNPE )VO WBS WFOMJH PH I GMJH NFO IPMEU FO WJT EJTUBODF "G PH UJM N EUF IVO OPHFO IWPS LFNJFO WBS J UPQ cO TPN IVO FHFOUMJH HFSOF WJMMF WrSF WFOOFS NFE NFO IWFS HBOH TLFUF EFU TBNNF &O JOESF GrSEÝ
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TFMTCFUKFOU USgEUF GSFN NFE FO GSFNTUSBLU IWJE IBOETLF PH FO PWFSEJNFOTJPOFSFU QMBTUJDTMJLLFQJOE IWPSQg EFS TUPE 4501 NFE TUPSF S EF CPHTUBWFS &O TUFNNF UBMUF J IFOEFT IPWFE )WBE FS EFU EV IBS HBOH J 7JM EV HFSOF PQMFWF TPSHFO JHFO &S EcU IWB EV OTLFS 0 H IVO CFTJOEFEF TJH PH UBMUF QrOU GrSEJH NFE EFO GSFNÝ NFEF ESFOH FMMFS QJHF PH VOETLZMEUF TJH NFE BU IVO TLVMMF Qg UPJMFUUFU FMMFS IKFN PH TQJTF )VO IBWEF NJTUFU TJO GBS TPN ÝgSJH %cO TPSH WBS Tg BMUPQÝ TMVHFOEF BU IVO JLLF OTLFEF BU PQMFWF OPHFU MJHOFOEF JHFO "MESJH 4BOETZOMJHIFEFO GPS BU FO BG IFOEFT KrWOBMESFOEF LBNNFSBUFS QMVETFMJH GBMEU E E PN WBS OPL NJOJNBM NFO EFS LVOOF TLF BOESF UJOH TPN WBS OrTUFO MJHF Tg LBUBTUSPGBMF 'BNJMJFO LVOOF GMZUUF MBOHU CPSU FMMFS EF LVOOF CMJWF VWFOÝ OFS PH Tg WBS EcU WFOTLBC TLZMMFU VE J BGM CFU PH IVO TUPE UJMÝ CBHF NFE FU OZU GSZHUFMJHU UPNSVN 4g IFMMFSF WrSF VEFO WFOOFS "EFMFOF IBWEF EPH N EU cU NFOOFTLF TPN IVO CFUSBHUFEF TPN FO HPE WFO &O rMESF EBNF EFS IFE GSV +FTQFSTFO %F IBWEF N EU IJOBOEFO GPS OPHMF NgOFEFS TJEFO WFE FO UJMGrMEJHIFE EB IVO WBS Qg CJCMJPUFLFU 'SV +FTQFSTFO IBWEF TUgFU WFE FO BG TLrSNFOF IWPS NBO TFMW TLVMMF TUFNQMF TJOF C HFS VE PH JOE %FO HBNMF EBNF LVOOF JLLF Gg BQQBSBUFU UJM BU WJSLF GPSEJ IVO TUBL TJU TZHFTJLSJOHTLPSU GPSLFSU J PH "EFÝ MFOF IBWEF IKVMQFU IFOEF 'SV +FTQFSTFO IBWEF UBLLFU NBOHF HBOHF PH EF WBS GBMEFU J TOBL GPSEJ IVO MJHF IBWEF MgOU FO CPH TPN "EFMFOF BMMFSFEF IBWEF MrTU 'SV +FTQFSTFO IBWEF CgEF JOEL CTWBSFS PH C HFS BU TMrCF Qg Tg EB EF BMMJHFWFM TLVMMF J TBNNF SFUOJOH IBWEF "EFMFOF
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UJMCVEU BU CrSF OPHMF BG UJOHFOF %FS WBS HFOTJEJH TZNQBUJ GSB TUBSUFO "EFMFOF LVOOF WJSLFÝ MJH HPEU MJEF GSV +FTQFSTFO )VO WBS TJETU J FSOF GZTJTL J GJO GPSN NFO IVO Tg JLLF TrSMJH HPEU 0H Tg WBS IVO CgEF JOUFMÝ MJHFOU PH TUJMMFEF JLLF EF TrEWBOMJHF JOEMZTFOEF TQ SHTNgM TPN rMESF NFOOFTLFS PGUF HKPSEF OgS EF JLLF WJETUF IWBE EF TLVMMF TJHF (gS EV Tg J TLPMF Þ /FK KFH FS BTUSPOBVU Qg +VQJÝ UFS ' SV +FTQFSTFO LVOOF ,VOTUFO "U -FHF 'JTL TPN "EFMFOF LBMEUF EFU %FU WJMMF TJHF IPMEF NVOE OgS PSE WBS PWFSGM EJÝ HF 'SV +FTQFSTFO LVOOF TBHUFOT TOBLLF PH GPSUrMMF NFO Tg WBS EFS PHTg OPHFU BU UBMF PN %FU WBS BMESJH 4JLLFO FU EFKMJHU WFKS EFU FS J EBH FMMFS /V Ng KFH PTTF TF BU Gg TU WFU BG * EcO IFOTFFOEF MJHOFEF IVO NFHFU "EFMFOFT GBS 5BM OgS EV IBS OPHFU BU TJHF PH FMMFST IPME NVOE PH OZE TUJMIFEFO "EFMFOF IBWEF IKVMQFU GSV +FTQFSTFO IFMU IKFN UJM EFO MJMMF CPMJHCMPL IWPS IVO CPFEF 4PN EFO OBUVSMJHTUF UJOH J WFSEFO IBWEF GSV +FTQFSTFO JOWJUFSFU Qg UF "EFMFOFT JOESF GrSETFMTÝ CFUKFOU WBS TUSBLT TQSVOHFU GSFN NFE 4501ÝTLJMUFU PH FO BEÝ WBSTFM &S EFU IFS OV LMPHU +FH FS TJLLFS Qg BU * LBO CMJWF GJOF WFOOFS NFO EFOOF BOTUrOEJHF EBNF FS BMUTg JLLF IFMU VOH *OEFO EV TFS EJH PN FS IVO Qg WFK UJM 3JWFSXPSME PH Tg TUgS EV NFE FO OZ TUPS TPSH 3JWFSXPSMEÝTBHBFO WBS FO BG "EFMFOFT ZOEMJOHTÝSPNBOTFSJÝ FS PN FO BOEFO WFSEFO IWPS BMMF EF NFOOFTLFS EFS OPHFOÝ TJOEF IBS MFWFU Qg +PSEFO CMJWFS HFOTLBCU OgS EF E S PH EFSÝ NFE PHTg GSV +FTQFSTFO NFO KFH TLB TFMW UJM 3JWFSXPSME FO EBH PH Tg GJOEFS KFH IFOEF NgTLF JHFO 4 g IVO IBWEF UBLLFU KB UJM UFFO PH EF IBWEF IZHHFU TJH J
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GMFSF UJNFS PH TQJTU LBHF PH GSV +FTQFSTFO IBWEF WJTU IFOEF FO NBTTF TNVLLF MrEFSJOECVOEOF C HFS TPN IVO IBWEF J TJO MJMMF NFO QrOF PH NFHFU IZHHFMJHU JOESFUUFEF MFKMJHIFE *NFOT "EFMFOF HJL J FHOF UBOLFS LPN IVO GPSCJ - WFQBSLFO %FSJOEF CBH FU I KU KFSOHJUUFS J EFO TUPSF TNVLLF IBWF Mg 4MPUUFU %FO I KF QJHCFTBUUF QPSU WFE JOEL STMFO WBS BMUJE GPSÝ TWBSMJHU MVLLFU Tg NBO LVO MJHF BOFEF - WFTMPUUFU GKFSOU TMVNSFOEF CBH I KF TWBKFOEF C HF PH N SLFHS OOF WFMUSJNÝ NFEF CVTLF %FS HJL SZHUFS PN BU EFU WBS FO VEFOMBOETL JUÝ NJMMJPOrS TPN FKFEF TUFEFU NFO IVO WJETUF JLLF OPHFU NFE TJLLFSIFE %FU FOFTUF NFOOFTLF "EFMFOF OPHFOTJOEF IBWEF TFU EFSJOÝ EF WBS FO TVS HBSUOFS TPN IVO IBWEF CFEU PN IKrMQ TJETUF gS 'SFKB -BVSB PH .BK IBWEF PNSJOHFU IFOEF Qg WFK IKFN GSB TLPMF IFWFU TLPFOF BG IFOEF PH TNJEU EFN PWFS EFU I KF HJUÝ UFS 0H Tg WBS EF DZLMFU HSJOFOEF WrL %FU WBS J PLUPCFS NgOFE TPN OV "EFMFOF IBWEF GPST HU BU SJOHF Qg FO QPSUUFMFGPO EFS TBE WFE MgHFO NFO JOHFO IBWEF TWBSFU )FHOFU WBS GPS I KU PH TWrSU BU LSBWMF PWFS %FU IBWÝ EF LVO MPESFUUF KFSOTUrOHFS BU IPMEF J JOUFU VTLBSQU BU USrÝ EF Qg PH WFSTU TBE EF TQZEMJHOFOEF QJHHF PH USVFEF FOIWFS EFS CBSF UrOLUF Qg BU GPSDFSF EFU %FSFT CVETLBC WBS VUWFÝ UZEJHU )WJTÝEVÝGPST HFSÝBUÝLPNNFÝPWFSÝNJHÝTQJEEFSÝKFHÝEJHÝTPNÝ FOÝMFKSCgMTQ MTF )VO WBS Qg OJQQFU UJM BU Hg IKFN J TUS NQFS EB IVO GJL KF Qg FO NBOE TPN L SUF SVOEU Qg FO MJMMF USBLUPS NFE FO gCFO USrLWPHO PH FO NBTTF IBWFSFETLBCFS "EFMFOF IBWEF WJOLFU PH SgCU BE IBN NFO NBOEFO WBS MBOHU JOEF J QBSLFO PH LVOÝ OF KFOTZOMJHU JLLF I SF IFOEF GPS USBLUPSFO )VO IBWEF
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IPQQFU PH EBOTFU 0NTJEFS IBWEF IBO GgFU KF Qg IFOEF Þ EFU WBS IVO TJLLFS Qg Þ NFO IBO IBWEF JLLF SFBHFSFU * IWFSU GBME JLLF J G STUF PNHBOH 5JM TJETU WBS IBO EPH LPNNFU OFE J OrSIFEFO BG QPSUFO GPSEJ IVO CMFW WFE NFE BU TUg PH HFTUJÝ LVMFSF )VO IBWEF FO GPSOFNNFMTF BG BU EFU JLLF Tg NFHFU WBS GPS IFOEFT TLZME TPN GPS IBOT FHFO .gTLF IBWEF IBO PQTZOFU NFE TUFEFU PH IWJT EFS OV WBS OPHFU HBMU SJTJLFSFEF IBO BU CMJWF ESBHFU UJM BOTWBS 4g WBS EFU OPL CFESF MJHF BU L SF IFO PH I SF IWPSGPS EFOOF IFS QJHF TUPE PH EBOTFEF MBNÝ CBEB GPSBO IBOT QPSU 5SBLUPSFO TUPQQFEF Qg EFO BOEFO TJEF BG IFHOFU %FO TVSF UZLLF HBSUOFS TBE LSVNSZHHFU Qg TrEFU PH TLVUUFEF TJH J EFU L MJHF WFKS NFE FO VEHgFU DFSVUTUVNQ J NVOEWJHFO PH FU VUJMÝ GSFET VEUSZL J TJU GFEMBEOF S ENPTTFEF BOTJHU )WB FS EFS SgCUF IBO PWFS NPUPSTU KFO PH QFHFEF Qg TLJMUFU Qg QPSUFO ,B EV JLLF MrTF %FS TUPE 13*7"5 Þ "%("/( '03#6%5 "EFMFOF IBWÝ EF JLLF QSPCMFNFS NFE BU GPSTUg CVETLBCFU .JOF TLP MJHHFS JOEF J QBSLFO TBHEF IVO Qg UgTQJETFSOF GPSEJ LVMEFO USrOHUF PQ HFOOFN G EEFSOF ,B EV JLLF IFOÝ UF EFN UJM NJH " IWB SgCUF HBSUOFSFO NFE IgOEFO CBH SFU )BO WBS KFOTZOMJH IBMWE W NgTLF BG BU L SF GPS NFHFU SVOEU Qg USBLÝ UPSFO 5BM I KFSF .JOF TLP SgCUF "EFMFOF PH QFHFEF Qg TJOF G EEFS %F MJHHFS JOEF J QBSLFO (BSUOFSFO ESFKFEF BSSJHU UrOEJOHTO HMFO Tg NPUPSFO TUPQÝ QFEF UJM GPSEFM GPS FO CFGSJFOEF TUJMIFE %FO WBS EPH JLLF UPÝ UBM %FS L SUF TUBEJH CJMFS GPSCJ Qg WFKFO )WB GBOEFO rWMFS EV PN VOHF
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.JOF TLP MJHHFS JOEF J QBSLFO GPSLMBSFEF "EFMFOF GPS USFEKF HBOH 7JM EV HPEU WrSF SBS BU HJ NJH EFN UJMCBHF %JOF TLP IJNMFEF NBOEFO PH Tg VE TPN PN EFS WBS TNJEU FO HSBOBU NFE FCPMBÝWJSVT JOE UJM IBN )WPSEBO IFMÝ WFEF FS EF IBWOFU EcS )BS EV WrSFU JOEF J QBSLFO &S EV JLÝ LF LMBS PWFS BU EFU FS QSJWBU PNSgEF %FS FS BEHBOH TUSFOHU GPSCVEU 7J IBS UJMMBEFMTF UJM BU TLZEF BMMF EFS JLLF IBS FU MPWÝ MJHU rSJOEF %FU QBTTFEF OBUVSMJHWJT JLLF NFO HBSUOFSFO O E BU TQJMMF *NQPSUBOU .BO EFS NgTLF JLLF WBS Tg *NQPSUBOU TPN IBO HPEU LVOOF UrOLF TJH -JHF IFS PH OV WBS IBO EPH DIFGFO PH EFU WBS IBN EFS CFTUFNUF +BNFO KFH IBS JLLF WrSFU EFSJOEF /PHMF BG NJOF LMBTTF OPHMF QJHFS IFW EFN BG NJH PH TNFE EFN JOE PWFS IFHOFU %FU WBS EFSIFOOF PNLSJOH EFU TUPSF USr "EFMFOF QFHFEF NFO HBSUOFSFO WBS JLLF JOUFSFTTFSFU J OFEÝ GBMETTUFEFU .PE GPSWFOUOJOH TUPE IBO BG USBLUPSFO USBL IrOHFS WFO J TJOF CVLTFS PQ VOEFS WPNNFO PH LPN IFMU IFO UJM QPSUFO /g Tg EcU HKPSEF EF OJLLFEF IBO PH TLVMFEF NFE FU NJTÝ USPJTL VEUSZL 0H IWPSGPS UPH EF MJHF EJOF TLP GSB EJH %FU WFE KFH JLLF TWBSFEF "EFMFOF PQSJHUJHU /FK EFU WFE KFH THV IFMMFS JLLF LOVSSFEF HBSUOFSFO PH QJMMFEF WFE DFSVUTUVNQFO NFE FU QBS KPSETPSUF GJOHSF %V IBS WFM HgFU SVOEU NFE EFN FU TUFE IWPS EV JLLF TLV Hg +FH HJL CBSF IKFN GSB TLPMF TBHEF "EFMFOF IWJMLFU WBS J PWFSFOTTUFNNFMTF NFE TBOEIFEFO 1S W FO CFESF IJTUPSJF 'PML IJWFS THV EB JLLF TLPFOF BG IJOBOEFO NFENJOESF EFS FS FU GPSNgM NFE EFU &S EF NgTLF TLPÝOBQQFSF
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BO TLBS FO HSJNBTTF TPN PN IBO GBOEU TJO FHFO KPLF WrMÝ ) EJH NPSTPN %F HKPSEF EFU GPS BU ESJMMF 4gEBO FS EF %F IBEFS NJH +FH IBEFS PTTF TUBUTNJOJTUFSFO PH NJO TWPHFS %FSGPS IJÝ WFS KFH THV EB JLLF TLPFOF BG EFN %F FS CBSF TgEBO %F FMTLFS BU NPCCF PH QMBHF BOESF (BSUOFSFO LOFC KOFOF TBNNFO PH NVSSFEF DFSVUUFO NFMÝ MFN MrCFSOF )BO MBHEF BSNFOF PWFS LPST TPN PN IBO WBS BOLMBHFSFO J FO TUPS SFUTTBH ,B EV CFWJTF EFU #FWJTF IWBE "U EV JLLF IBS MBWFU OPHFU )WPSEBO TLV KFH CrSF NJH BE NFE EcU TQVSHUF "EFMFOF PH TUFQQFEF GPSUWJWMFU Qg EFO JTLPMEF KPSE )VO WBS CFHZOEU BU GSZTF HPEU PH HSVOEJHU PH IVO IBWEF FO TrSEFMFT VCFIBHFÝ MJH GPSOFNNFMTF BG BU HBSUOFSFO O E BU TF IFOEF TUg EFS PH MJEF ,B EV JLLF CBSF WrSF GMJOL PH IFOUF NJOF TLP .JOF G EEFS FS TPN JT +FH SJTJLFSFS BU Gg MVOHFCFUrOEFMTF IWJT KFH TLB Hg IFMF WFKFO IKFN TgEBO IFS )WFN USPS EV KFH FS FLTQMPEFSFEF IBO 4LPIFOUFS GPS N HVOHFS EFS JLLF LB QBTTF Qg TJH TFMW 5SPS EV EFU IFS FS FO C SOFIBWF +FH IBS THV BOTWBSFU GPS IFMF EFO IFS LrNQFÝ QBSL PH Tg LPNNFS EV PH TOBLLFS PN TLP &S EV LMBS PWFS IWPS NBOHF CZSEFS EFS MJHHFS Qg cO NBOE NFE BU IPMEF KF NFE VWFELPNNFOEF PH LMJQQF IrLLF PH TMg HSrT PH TLPWMF TOF PH SFOTF UBHSFOEFS PH MVHF VLSVEU PH SFOEÝNJHÝJÝS WFO /rI EcU FS EFS THV JOHFO EFS UrOLFS Qg 'PML HgS CBSF GPSCJ VEFOGPS PH TNJEFS EFSFT GPEU K PH IWBEÝWFEÝKFH JOE PWFS IFHÝ OFU PH USPS BU KFH FS BOTBU TPN FO TL EFL UFS EFS TLB IFOUF QJOEF PH TLP GPS EFN NFO EV LB USP OFK CBCZ +FH H S NJU
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BSCFKEF PH JLLF FO TLJE NFSF +FH WF IWPS NJOF QMJHUFS HgS UJM PH UIBU T JU +FH FS HgFU VE BG 'MJOLFTLPMFO GPS NBOHF gS TJEFO +FH FS HBSUOFS PH EFU FS IWB KFH CMJ S CFUBMU GPS )WJT NBO EB LB LBMEF EcU GPS CFUBMJOH 0H IWB GgS NBO FMMFST /PHFO UBL /PHFO M OGPSI KFMTF /PHFO FLTUSB GFSJFEBHF /rI HPEOBU NJO CBSF 0H IWB FS EFS UJMCBHF OgS TLBUUFWrTFOFU PH CBOLFO PH LrMMJOHFO PH VOHFSOF IBS WrSFU EFS *LLF FO TLJE EV ;FSP -PNNFVME PH Tg LPNNFS EV NFE EJOF TLP +FH IBS GBOFNF BMESJH LFOEU NBHFO UJM VGPSTLBNNFUIFE NFO KFH FS THV PTTF WFE BU IB EFU IFSPQUJM (BSUOFSFO IPMEU IgOEFO VOEFS IBHFO TPN PN IBO TUPE J MPSU UJM IBMTFO )BO HJL UJMCBHF NPE USBLUPSFO "EFMFOF Tg GPSÝ CM GGFU FGUFS IBN IBO FS TLSVQTL S LMBS UJM JOEMrHHFMTF QS W BU TUSZHF IBN NFE IgSFOF IBO TLB IB OPHFU SPT NgTLF LB EcU IKrMQF +FH TJHFS EJH UVTJOE UBL IWJT EV WJM CSVHF NJOVUUFS BG EJO LPTUCBSF UJE Qg BU IFOUF NJOF TLP GPST HUF IVO 4g FS EV SJHUJH T E 0H KFH TZOFT EV H S FU VUSPMJHU GMPU TUZLLF BSÝ CFKEF 1BSLFO FS GBOUBTUJTL TNVL %FO MJHOFS #PUBOJTL )BWF TFMW IFMU IFSVEF GSB WFKFO %FU Ng WrSF NFHFU TWrSU BU Og BU QBTTF PH QMFKF EFU IFMF JTrS IWJT EV FS BMFOF PN EFU (BSUOFSFO HMPFEF UWrSU Qg IFOEF &U KFCMJL Tg EFU WJSLFMJH VE TPN PN IBO PWFSWFKFEF NFO Tg TBUUF IBO TJH PQ Qg USBLÝ UPSFO ESFKFEF O HMFO PH TUBSUFEF NPUPSFO )BO L SUF SVOEU J FO CVF PH GPSTWBOEU WrL GSB QPSUFO JOE PWFS QMrOFO "EFMFOF TVLLFEF PH LJHHFEF GPSUWJWMFU PQ PH OFE BE WFKFO %FS WBS PNLSJOH FO LJMPNFUFS IKFN %FS HJL JOHFO CVTTFS Qg EFUUF TUZLLF PH IVO IBWEF JLLF SgE UJM BU UBHF FO UBYB Tg IVO USBWFEF TMVL SFU WJEFSF )VO G MUF TJH TPN %FO -JMMF 1JHF .FE 4WPWMTUJLLFSOF
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GUFS FU TUZLLF WFOEUF IVO TJH PH Tg QMVETFMJH EFO FOF TLP & LPNNF GMZWFOEF J FO I K CVF PWFS IFHOFU PH MBOEF Qg GPSUPÝ WFU &U KFCMJL FGUFS GVMHUF EFO BOEFO %FO MBOEFEF IFMU VEF Qg L SFCBOFO IWPS FO MBTUCJM WBS MJHF WFE BU EFMrHHF EFO "EFMFOF TQrOFEF UJMCBHF TBNMFEF TLPFOF TBNNFO PH UPH EFN IVSUJHU Qg )VO LJHHFEF JOE J QBSLFO -BOHT EFU NFTUF BG IFHOFU WPLTFEF FU I KU LSBU Tg IVO LVOOF JLLF TF TrSMJH NFHFU 5SBLUPSFO MBSNFEF FU TUFE J OrSIFEFO NFO EFU M E TPN PN EFO L SUF WrL GSB WFKFO Tg IVO PQHBW BU WJOLF UJM UBL * EBH IBWEF IVO CgEF TLPFOF PH CVLTFSOF Qg PWFS GPS 'SFKB PH EF BOESF LVNQBOFS &GUFS DZLFMDSBTI FU WBS EFS OPL JLLF EFO TUPSF SJTJLP GPS BU 'SFKB WJMMF HFOFSF IFOEF NFSF GPSFM Ý CJH "EFMFOF TQBETFSFEF OZOOFOEF WJEFSF PH G MUF TJH QMVETFMJH J HPEU IVN S 4FMW PN EFU WBS L MJHU WBS EFU TMFU JLLF FO EBH UJM BU TJEEF JOEF PH I SF Qg LFEFMJH VOEFSWJTOJOH &O GSJTL WJOE TFOEUF TLZFSOF IVSUJHU PWFS IJNMFO PH NFE KrWOF NFMÝ MFNSVN LJHHFEF TPMFO GSFN EFU FS WFKS UJM BU TrUUF ESBHFS PQ FMMFS Hg UVS WFE TUSBOEFO FMMFS NgTLF GPSFMTLF TJH )VO OrSNFEF TJH IVTFU IWPS GSV +FTQFSTFO CPFEF "EFMFÝ OF QMFKFEF BU M CF rSJOEFS GPS EFO HBNMF EBNF 4FMW PN EFU JLLF WBS NFE EcO CBHUBOLF WJMMF GSV +FTQFSTFO LVO UBHF JNPE IKrMQFO IWJT "EFMFOF GJL CFUBMJOH 1g EFO NgEF UKFOUF IVO MJEU MPNNFQFOHF PH EFU WBS KP SBSU OPL .FO LMPLLFO WBS JLLF FOHBOH IBMW Tg IWJT IVO USPQQFEF PQ OV LVOOF GSV +FTQFSTFO MFU SFHOF VE BU IVO QKrLLFEF "EFMFOF WJMMF LVOOF GPSTWBSF TJH NFE BU IVO HPEU LVOOF MFLÝ
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UJFO Þ PH GBLUJTL GSJWJMMJHU IBWEF MrTU WJEFSF J GMFSF BG C HFSOF Þ NFO GSV +FTQFSTFO IBWEF MrSU BU NBO TLVMMF QBTTF IWBE NBO WBS TBU UJM )WJMLFU WBS SJHUJHU J TJH TFMW )WJT BMMF UrOLUF TgEBO Tg WFSEFO NFHFU BOEFSMFEFT VE "EFMFOF HJL EFSGPS SBTL GPSCJ PQHBOHFO PH OFE UJM DFOUFSFU IWPS IVO FMTLFEF BU LJHHF Qg GPSSFUOJOHFS JLLF NJOETU J CPHÝ IBOEMFO LVOOF IVO UJMCSJOHF NFHFU UJE %FS WBS OrTUFO BMUJE FO OZ TQrOEFOEF UJUFM TPN IVO LVOOF OPUFSF Qg TJO )VTL BU MgOF Qg CJCMJPUFLFUÝMJTUF )VO GBOEU EB PHTg UP C HFS TPN IVO OPUFSFEF TJH &O WPLTFOSPNBO BG FO FOHFMTL TQrOEJOHTGPSÝ GBUUFS PH FO VOHEPNTCPH #BHFGUFS TMFOUSFEF IVO SVOEU J DFOUFSFU )VO TUBOETFEF WFE FO U KGPSSFUOJOH %FS Mg OPHMF MrLSF US KFS Qg FU CPSE VEFOGPS %F WBS EFS PHTg J IFOEFT TU SSFMTF )VO UrOLUF Qg IVTIPMEOJOHTQFOHFOF TPN Mg IKFNNF Qg L LLFOCPSEFU TFMW PN KFH Tg UPH EFN BMMF TBNNFO WBS EFS MBOHUGSB OPL PH IWPSEBO TLB WJ Tg Gg NBE EFU LB HPEU WrSF BU (FFOB .JMMBSB LB MFWF BG HVME M DJHBSFUUFS PH FDTUBTZ NFO KFH TLB BMUTg IB OPHFU BU TQJTF ) VO GJL BG PH UJM QFOHF BG &EEFSLPQQFO UJM BU L CF U K GPS NFO EF LVOOF VOEFS JOHFO PNTUrOEJHIFEFS ErLLF EFU NrSÝ LFWBSFSrT TPN JTrS 'SFKB PH -BVSB EJLUFSFEF 0H "EFMFOF WJMÝ MF IFMMFS JLLF WrSF NFE Qg EFU 3VOBXBZ 5SBJO )VO LVOOF HPEU MJEF MrLLFSU U K NFO EFU WBS TJOETTZHU Tg IVSUJHU NPEFO TLJGUFEF PH IVO HBE CBSF JLLF WrSF UJM HSJO GPS OPHMF TNBSUF NPEFTLBCFSF EFS WBS CMFWFU NVMUJNJMMJPOrSFS GPSEJ UJMQBT NBOHF LWJOEFS Þ PH NrOE Þ GVMHUF J EFSFT GPETQPS TPN WJMKFÝ M TF GgS PH L CUF BMU IWBE EF TNFE Qg NBSLFEFU )VO IBWEF GBLUJTL QS WFU BU GPSLMBSF EFU GPS OPHMF BG EF BOESF J LMBTTFO
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NFO EFU IBOH OPHFOMVOEF MJHF Tg HPEU GBTU TPN UBQF Qg FO WgE CBEFWrH .FO US KFSOF WBS GSJTUFOEF *TrS EFO S EF )VO IPMEU EFO VE J TUSBLUF BSNF %FO WBS PHTg J HS O PH CMg )VO LVOOF KP BMUJE QS WF EFN %FU TLFUF EFS JLLF OPHFU WFE %FU LPTUFEF JOHFOUJOH 0H IVO IBWEF HPE UJE )VO UPH BMMF USF US KFS NFE JOE J CVUJLLFO PH CMFW N EU BG FO VOH NBOEMJH FLTQFEJFOU )FK ,B KFH IKrMQF NFE OPHFU +FH WJM HFSOF QS WF EF IFS IWJT EFU FS PLBZ 4FMWG MHFMJH EFU FS EFSPWSF )BO QFHFEF NPE FU QBS QS WFLBCJOFS PH MPE IFOEF J GSFE #FHHF LBCJOFS WBS UPNNF "EFMFOF HJL JOE J EFO OrSNFTUF USBL GPSIrOHFU GPS PH TUJMMFEF UBTLFO Qg HVMWFU )VO UPH KBLÝ LFO PH TJO FHFO CMVTF BG 4g UPH IVO EFO S EF US KF Qg PH Tg TJH LSJUJTL J TQFKMFU %FO TBE TVQFSHPEU TZOUFT IVO PH LJHHFEF JHFO Qg QSJTFO EFU FS TJOETTZHU IWPSGPS TLB EFU WrSF Tg EZSU GPSEJ EFU TJEÝ EFS TVQFSHPEU EFSGPS KFH USPS KFH WJM WrSF EFTJHOFS OgS KFH CMJ S WPLTFO KFH NFOFS BU KFH IBS FO TJLLFS GPSOFNNFMTF GPS IWPSEBO U K TLB WrSF GPS BU TF HPEU VE NFO MJHF J KFCMJLLFU FS KFH BMUTg "EFMFOF HgS J GPMLFTLPMFO PH FS LPOPNJTL Qg S WFO )VO ESFKFEF TJH GPSBO TQFKMFU SVMMFEF IgSFU PQ PH IPMEU EFU J FO LOVEF J OBLLFO KFH TFS VE TPN PN KFH FS GMFSF gS rMESF J EFO )VO TL E NFE IPGUFSOF MBWFEF USVUNVOE PH UrOLUF Qg FO ESFOH TPN IVO Tg KrWOMJHU J TLPMFHgSEFO )BO HJL J FO BG QBÝ SBMMFMLMBTTFSOF )VO WJETUF JLLF IWBE IBO IFE NFO TZOUFT IBO Tg T E VE LJTT NF IPOFZ IWPSEBO TFS KFH VE J EF BOESF
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56//&-."/%&/
VO USBL US KFO BG PH QS WFEF CgEF EFO HS OOF PH EFO ) CMg %FO HS OOF WBS IFMU IgCM T %FO QBTTFEF TMFU JLLF UJM IFOEFT IgS %FO CMg WBS OPHFOMVOEF NFO EFU WBS EFO S EF EFS UPH QSJTFO KB EcU TLB KFH MJHF MPWF GPS )VO LJHHFEF Qg NrSLFU GPS GFNUF HBOH PH SZTUFEF Qg IPÝ WFEFU IWJT KFH OV WBS 8POEFS 8PNBO LV KFH MJHF CSVHF NJU MBTFSÝ TZO UJM BU rOESF QSJTFO KB CPSUTFU GSB BU 8POEFS 8PNBO FS SFUÝ TLBGGFO PH BMESJH WJMMF MBWF EFO TMBHT OVNSF #BSF UB EFO %FU HBW FU MJMMF HJC J "EFMFOF )VO Tg Qg TJU FHFU GPSVSPMJHFÝ EF TQFKMCJMMFEF 4g WFOEUF IVO TJH PH UJUUFEF GPSTJHUJHU VE BG FO TQSrLLF WFE GPSIrOHFU %FS WBS JOHFO Qg EFO BOEFO TJEF FMMFS J SFTUFO BG CVUJLLFO ,VO FLTQFEJFOUFO PH IBO TUPE IFMU PWSF WFE EJTLFO USBWMU PQUBHFU BG BU SJWF OPHMF QBQLBTTFS J TUZLLFS PH LS MMF QBQJS TBNNFO %FU MBWFEF FO EFM TU K )VO TUBL IPWFEFU GSFN PH LJHHFEF JOE J EFO BOEFO QS WFLBCJOF %FO WBS UPN )VO USBL TJH UJMCBHF CBH GPSIrOHFU MBHEF EFO S EF US KF TBNNFO PH LPN EFO OFE J UBTLFO UJM C HFSOF KFH LVOOF IB GPSTWPSFU BU OPHFO TBHEF OPHFU NFO EFU Ng KP IB WrSFU NJO GBOUBTJ OgS TgEBO OPHFU QBQ CMJ S GMgFU J TUZLLFS PH QBÝ QJS LS MMFT TBNNFO MZEFS EFU OrTUFO TPN FOLFMUPSE EFS TOFSSFT FMMFS IWJTLFT VOEFSMJHU GrOPNcO QVIB IFS FS WBSNU J EF TQPUT KFH Ng IFMMFSF TF BU LPNNF VE JOEFO K )VO TUJSSFEF Qg UBTLFO )VO IBWEF MVLLFU EFO VEFO BU UrOLF PWFS EFU PH NFSF FOE EcU Tg WJEU KFH LVOOF TF )VO gCOFEF UBTLFO JHFO PH UPH US KFO PQ )VO CMFW CgEF GMPW WSFE Qg TJH TFMW PH CBOHF
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56//&-."/%&/
TJH NJH IWB USPS EV MJHF EV IBS HBOH J FS EV VEF Qg BU CMJWF UBHFU GPS CVUJLTUZWFSJ NJH KBNFO KFH IBS BMESJH TUKgMFU OPHFU J IFMF NJU MJW VE PWFS FU QBS QrSFS GSB OBCPFOT USr PH EFU UrMÝ MFS WFM JLLF SJHUJHU PH IWB WJM EV Tg LBMEF EcU IFS )BNTUSJOH UJM EgSMJHF UJEFS %V LPN EFO US KF J UBTLFO PH IWJT EV WBS HgFU VE BG CVUJLLFO NFE EFO IBWEF EV WrSFU FO HFNFO UZW LB EV Tg TF BU Gg CSBHU EJH TFMW J PSEFO " EFMFOF TBUUF TJH Qg TUPMFO J QS WFSVNNFU PH U SSFEF TJH PWFS QBOEFO )VO WBS FO MJMMF TNVMF TWJNNFM KFH IBS EFU GBLUJTL MJEU VOEFSMJHU NgTLF TLB KFH UJM BU IB NFOTUSVBUJPO EFU FS WJTU WFE BU WrSF UJEFO FS EFU JLLF EFU FS KP TUBEJH SFU OZU PH IWB Tg 4LV EcU WrSF EJU GPSTWBS J CZSFUUFO +FH CFLMBHFS ) KF %PNNFS NFO KFH GJL MJHF NJU NgOFEMJHF EB KFH UPH EFO IFS US KF Qg PH Tg ) VO TBNMFEF IVSUJHU U KFU TBNNFO UPH TJO KBLLF PH UBÝ TLFO Qg PH HJL VE BG QS WFLBCJOFO )VO CMFW J UWJWM PN IVO TLVMMF MrHHF US KFSOF UJMCBHF Qg CPSEFU VEFOGPS FMMFS IWPSÝ EBO Tg IVO HJL PWFS UJM EJTLFO IWPS FLTQFEJFOUFO WBS J HBOH NFE BU TQSrUUF LBTTFS PQ NFE FO IPCCZLOJW I KFH IBS EFTWrSSF HMFNU NJO QVOH EFSIKFNNF 4LB KFH MrHHF CMVTFSOF UJMCBHF VEF Qg CPSEFU FMMFS #BSF MrH EFN Qg EJTLFO TWBSFEF IBO 4g LMBSFS KFH EFU 5BL )BO WFOEUF UJMCBHF UJM QBQLBTTFPQTQSrUOJOHFO NFO QMVEÝ TFMJH Tg IBO PQ JHFO )PW IBS EV JLLF HMFNU OPHFU "EFMFOF G MUF TJH Qg TFLVOEFU IVM JOEFOJ OPL Qg HSVOE BG EgSMJH TBNWJUUJHIFE )WB TLV EcU WrSF )BO OJLLFEF NPE U KCVOLFO )VO LJHHFEF Qg EFO )FOÝ
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56//&-."/%&/
EFT FHFO CMVTF Mg PWFO Qg EFO S EF PH EFO HS OOF US KF )VO Tg OFE BE TJH )VO IBWEF TUBEJH EFO CMg US KF Qg (VVE )VO TUJMMFEF UBTLFO TLZOEUF TJH PWFS J LBCJOFO TLJGUFEF PH LPN UJMCBHF UJM EJTLFO %FU Ng EV NFHFU VOETLZMEF %FU WBS BMUTg JLLF NFOJOHFO 5B EFU SPMJHU HSJOFEF IBO %V FS JLLF EFO G STUF EFS H S EFO TMBHT %FU TLFS KrWOMJHU +FH Ng IB TUgFU J NJOF FHOF UBOLFS %FU FS EB LMBSU 4FMW PN IBO WBS WPLTFO Þ NJOETU Ý gS Þ Tg WBS IBO GBLÝ UJTL SFU QrO )BO WBS TFMWG MHFMJH GPS HBNNFM UJM IFOEF NFO BUUSBLUJW Qg TJO FHFO NgEF /g NFO Tg TNVUUFS KFH JHFO )B FO HPE EBH * MJHF NgEF "EFMFOF WFOEUF TJH GPS BU Hg )FZ EV )VO TUPQQFEF 'ZSFO TMBQ QBQLBTTFO PH LPN IFO JNPE IFOEF NFE IPCCZLOJWFO )BO Tg SVOEU J CVUJLLFO %FS WBS JLLF BOESF )BO IBWEF FU TLrMNTL HMJNU J KOFOF TPN "EFMFÝ OF GBOEU SFU UJMUSrLLFOEF +FH Ng FHFOUMJH JLLF TJHF EFU IFS UJM OPHFO GPSLMBSFEF IBO MBWU .FO IWJT EV WFOUFS UJM OrTUF VHF Tg SZHFS EF US KFS OFE Qg OrTUFO IBMW QSJT #BSF IWJT EV UrOLFS Qg BU L CF cO )VO CMFW HMBE 4FMW PN EFU NgTLF OPL WBS GPSLFSU PWFS GPS FKFSOF BG CVUJLLFO Tg G MUF IVO TJH QSJWJMFHFSFU PWFS BU IBO S CFEF EFU GPS IFOEF %FU WBS TKrMEFOU BU GPML JOEWJFEF IFOÝ EF J IFNNFMJHIFEFS FMMFS HBW IFOEF GPSEFMF 5BL GPS PQMZTOJOHFO %FU TLB KFH IVTLF
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56//&-."/%&/
BO CMJOLFEF PH HJL UJMCBHF UJM QBQLBTTFSOF ) "EFMFOF GPSMPE CVUJLLFO J M”GUFU TUFNOJOH EFU FS G”STUF HBOH J EBH OPHFO FS T”E WFE NJH Tg GJL KFH SFU J BU EBHFO CMFW BOEFSMFEFT PH IBO GMJSUFEF IBO USPFEF WJTU BU KFH WBS rMESF FOE KFH FS KFH Ng M”CF OPHMF rSJOEFS GPS GSV +FTQFSTFO Tg KFH LB Gg SgE UJM EFO US”KF
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56//&-."/%&/