August Estate Auction

August Estate Auction Sunday, August 3, 2014 10am

August Estate Auction featuring fine art, decorative arts, Asian art & jewelry

Auction: Sunday, August 3, 2014, 10am Jewelry and Timepieces: Lots 1 -123 Coins, Stamps and Ephemera: Lots 130 - 144 Asian Works of Art: Lots 150 - 266 Fine Art: Lots 270 - 360 Furniture, Decorations, and Carpets: Lots 365 - 461 Silver and Glass Objects: Lots 470 - 520 China, Decorations, Comic Books, and Ethnographic Items: Lots 530 - 623

Previews: Friday, August 1, Noon to 5pm Saturday, August 2, 10am to 5pm Sunday, August 3, from 9am to end of auction

Michaan's Auctions 4ODD 3TREET s !LAMEDA #!

4EL s &AX www.michaans.com info@michaans.com

Front and back cover lot: 155

Terms and Conditions of Sale STANDARD CONDITIONS OF SALE These Conditions of Sale are binding on all purchasers at Auction. Please read carefully.

By registering to bid at auction, in person, or through an agent, by absentee bid, or telephone or any other means including the Internet and e-mail, you agree to be bound by these Conditions of Sale (and changes made as noted below.)

All property and every lot for sale in our catalogue is offered subject to the following terms and conditions, along with any changes that may be published or announced prior to or during a sale by Michaan’s Auctions. (MA). The terms “MA” “us,” “we,” or “our” as used herein all refer to Michaan’s Auctions. Unless otherwise indicated in the catalogue or at time of sale, MA acts at all times solely as the agent for the seller. All sales shall be deemed to occur in California regardless whether by telephone, mail or through the Internet or the physical location of the buyer.

DEFINITIONS Hammer price: The highest bid received for a lot upon the fall of the auctioneer’s hammer.

Buyer’s premium: The amount paid by the buyer as a percentage of the hammer price and in addition thereto.

Purchase price: The aggregate of the hammer, buyer’s premium and applicable taxes or other fees, if any, as may be required by law.

Reserve: The minimum price at which the lot may be sold.

Buyer: The person or entity who buys property at auction or private sale.

Consignor: The seller, or the seller’s representative, on behalf of whom we are selling the Property.

Lot:The single item or group of items offered by us for sale.

Property: The item or items comprising an auction lot being offered for sale.

BUYER’S PREMIUM The Buyer shall pay a Buyer’s Premium per lot which shall be retained by MA as follows: Eighteen percent (18%) of the first $250,000.00 of the bid price, twelve percent (12%) of the amount of the bid price above $250,000.00 up to and including $1,000,000.00, and ten percent (10%) of the amount of the bid price over $1,000,000.00. If you choose to pay by credit card (Visa, Mastercard or Discover only) or any other form of payment, the buyer’s premium is twenty-one percent (21%) of the first $250,000.00 of the bid price, fifteen percent (15%) of the amount of the bid price above $250,000.00 up to and including $1,000,000.00, and twelve percent (12%) of the amount of the bid price over $1,000,000.00. Internet Buyer’s Premium is twentythree percent (23%) of the first $250,000.00 of the bid price and eighteen percent (18%) of the amount of the bid price over $250,000.00.

TERMS OF SALE a.The Purchase of and Payment for Property The sale of a lot shall be to the highest bidder as determined by the auctioneer, in accord with these Conditions of Sale.Title to the lot shall pass with the fall of the Auctioneer’s hammer. Buyer shall pay the Purchase price, as defined above, and such other fees as may be due, in full, within seven (7) days of the auction sale. Sale is not final and property will not be released to Buyer until good funds for all amounts due, are received

by MA. Payment may be made (i) in cash, (ii) by wire transfer (additional $15 fee), (iii) by money order or other guaranteed funds, or (iv) by personal check (when buyer’s credit is approved). No lot shall be transferred

by Buyer to another person until the sale is final. In the event of partial payment for any lot or lots we shall

apply payments, in our discretion, to the lot or lots we select.The Buyer grants MA a security interest in the purchased Property, and we may retain as collateral any property purchased and any funds in our possession, to secure a Buyer’s obligations to us, if any.We retain the rights of a secured party under the California Commercial Code. All fees, taxes, premiums or other sums due and not paid pursuant to this paragraph shall bear interest at 1.5 % per month from the 8th day following the sale to the date paid in full. b. Collection of Property Upon transfer of title, Buyer assumes full responsibility, including risk of loss and damage, for the Property. Purchased property shall be removed at Buyer’s expense within fifteen (15) days after the sale becomes final. Property not removed shall be subject to a service fee of $50, and a storage fee, if retained by MA, of 1% of the purchase price per month. MA may also, in its sole discretion, elect to place the Property in a public storage facility at the Buyer’s sole risk, responsibility and expense. c. Liability for delivery of property If, for any reason whatsoever, we are unable to deliver the purchased Property to the Buyer, MA shall be liable to the Buyer only for the Purchase price paid by the Buyer and in no event shall we be liable for incidental or consequential damages, including, but not limited to, business interruption or loss of profit. d. Available Shipping As a service to the purchaser, MA may be able to pack and ship items as set forth in the provisions for shipping in the paragraph following the terms and conditions of sale.

THE AUCTION PROCEDURE a. Registration Bidders must register in advance to bid at auction. (a) If by mail or on the Internet please comply with, sign and send back the requisite form or absentee bid. (b) To telephone bid, Bidders must complete, sign and fax a copy of the Telephone Bid Registration Form, which is available only by calling MA. Telephone lines are limited, and available on a firstcome, first-serve basis. Registration to bid by telephone must be completed by 5 p.m. the day prior to the auction. (c) When intending to bid in person, pre register at the desk and obtain a bidding paddle. The auctioneer may refuse to recognize any person not registered and not having a paddle number. MA reserves the right at its sole discretion, to refuse anyone the right to register and participate at an auction. b. Announcements We may, at the commencement of, or during the Auction, announce changes in or modifications to the Conditions of Sale or descriptions of Property. c. Absentee Bids For a Buyer’s convenience, absentee bids will be accepted, when properly executed and submitted in a timely manner. However, we neither accept any responsibility to an absentee bidder, nor any liability whatsoever for a failure to execute the absentee bid for any reason. In the event that identical multiple absentee bids are the highest bids received for the same lot then the earliest received of the competing absentee bids shall prevail at that bid amount. d. Auctioneer’s Discretion The Auctioneer has the absolute discretion to 1) pass a lot or withdraw it from sale at any time prior to its actual sale; 2) refuse to recognize any bidder; 3) refuse to recognize any bid; 4) resolve any dispute between bidders or resolve any doubtful bid by deciding who is the successful bidder or nullifying the auction of the lot and reoffering it for sale. The

Auctioneer’s decision is binding as to disputes arising at auction. If a dispute arises post sale, our records of the sale shall be conclusive. Both the Auctioneer and MA shall be without any liability whatsoever resulting from the exercise of the discretion referred to herein. e. Reserves All Property is offered for sale subject to a Reserve unless otherwise stated by us at time of sale. MA may protect the Reserve by an initial bid or continued bidding on behalf of the consignor. Any bids by MA staff after the Reserve is met shall be made only on behalf of registered bidders. Neither the consignor nor an agent or representative of the consignor is allowed to bid on their own property.

DISCLAIMER OF WARRANTIES Except for warranty of title, neither we nor the Consignor make any warranties, guarantees or representation, express or implied, with respect to the Property, including, but not necessarily limited to, any implied warranty of “fitness for purpose” or “merchantability.”

Any and all statements and descriptions in any catalogue or elsewhere by MA, relating to age, attribution, authenticity, size, genuineness, provenance, historical relevance or significance, physical condition, importance, quality, quantity, rarity, period, culture, source or origin, are presented as statements of qualified opinion only.

MA’s disclaimer of liability covers information contained in catalogues, and all other printed material published by us, including condition reports. Buyers assume the responsibility to inspect the Property and make their own decision as to the nature, quality and value of the Property.

Neither MA nor the Consignor make any warranty or representation with regard to the existence of or the transfer of intellectual property rights, except and to such extent as may, from time to time, be explicitly stated.

No employee of MA is authorized to nor shall make any warranty or representation on MA’s behalf, except as stated in the catalog or in any written addendum.

ESTIMATES OF VALUE All estimates of value as published in our Catalogues or elsewhere are statements of qualified opinion as to the range of the price a willing buyer might pay for the Property at auction. The actual price paid at auction or subsequently, may vary substantially from the estimates.

MA shall not be liable for any such differential.

BUYER’S DEFAULT If a Buyer fails to pay for purchased Property, or otherwise does not comply with these Conditions of Sale, the Buyer shall be in default. In addition to all remedies available in law, to MA and to the Consignor, the Buyer shall be liable for the entire Purchase price. Additionally, at our option, we may either cancel the sale and retain all payments made

by Buyer as well as retain any and all Property of Buyer in our possession as security against payment of the sums in default, or we may re-offer the Property for sale, at auction or privately, without reserve. Buyer shall be liable to us and the Consignor for the additional fees, commissions and costs on both sales (including handling, storage and court costs and attorney’s fees) resulting from the cancellation or resale of the Property and in the event of resale, any deficiency which may result.

RESCISSION The sole and exclusive remedy, available only to the original buyer, is the limited right of rescission set forth herein. MA will cancel the sale of Property if

the original buyer establishes to our satisfaction that there has been a breach of the Consignor’s warranty of title, or that the identification of Authorship* of the Property as set forth in Bold Type Heading is not substantially correct, based on a fair reading of the Catalogue (as may be amended by posted or announced changes.) IN ALL INSTANCES, YOU MUST GIVE WRITTEN NOTICE TO US WITHIN 30 DAYS OF THE SALE OF THE PROPERTY, SETTING FORTH THE BASIS FOR YOUR CLAIM AND, AT YOUR SOLE EXPENSE AND RISK, RETURN THE PROPERTY IN QUESTION TO MA WITHIN SEVEN (7) DAYS AFTER NOTICE IS GIVEN AND IN THE SAME CONDITION AS WHEN SOLD. Upon review of the claim and the property, if we are satisfied with the bases for your claim and the property is in the same condition it was in when sold, MA will rescind the sale and return to you the Purchase price, unless we have already remitted funds to the Consignor. In that event, and at MA’s sole discretion, MA shall either pay you as provided above, or shall pay you only that portion of the Purchase price retained by us (the Seller’s commission, the buyer’s premium and any sales taxes collected) and on your behalf make demand on the Consignor for the balance and upon receipt of the funds remit same to you. Should the Consignor refuse to return the funds to you or to MA, we shall disclose the Consignor’s identity and assign to you any and all rights MA may have against the Consignor. Any and all liability MA may have as agent for the Consignor shall thereupon terminate.

BUYER EXPRESSLY UNDERSTANDS AND AGREES THAT MA SHALL HAVE NO OTHER LIABILITY TO THE BUYER EXCEPT FOR THE RETURN OF THE PURCHASE PRICE AND THAT IN NO EVENT SHALL MA BE LIABLE FOR ANY DAMAGES, INCLUDING BUT NOT LIMITED TO INCIDENTAL, CONSEQUENTIAL OR COMPENSATORY DAMAGES OR LOSS OF PROFIT OR BUSINESS OPPORTUNITY. *Authorship refers to the maker or creator of the Property, and the period, social culture, and origin of the Property as stated in the Bold Type Heading for a given lot in our catalogue. It does not refer to the descriptions which may be contained in the information below the Bold Type Heading.

MISCELLANEOUS a. Modification: No modification or amendment of the Conditions of Sale shall bind MA unless contained in a writing signed by MA, except as may be posted or published as noted above or verbally announced at time of sale. b. Severability: If, for any reason, any part of the Conditions of Sale is held to be invalid or unenforceable, the remaining portion shall be valid and enforceable. c. Successors and Assigns: The Conditions of Sale shall be binding on all the heirs and assigns of the Buyers and bidders and inure to the benefit of MA’s successors and assigns. d. Jurisdiction, Venue, Choice of Law: Dispute resolution shall occur in Alameda County, California, USA. The provisions of the Conditions of Sale will be construed and disputes determined by application of California Law, without regard to conflicts of law. e. Notice, Service of Process: Buyers agree to accept all notices and service of process relating to dispute resolution at the address provided by Buyer on any registration forms required to be executed as a condition of bidding in our auction. f. Dispute Resolution: All disputes and claims arising out of or relating to events and actions covered herein, brought by or against us, shall be resolved by

mediation or binding arbitration in accord with the procedures set forth below. This provision does not apply to claims brought by the Buyer directly against the Consignor, including, but not limited to any action brought pursuant to the rescission provisions noted above OPTIONAL PROVISIONS Shipping, insurance packaging and handling of purchased lots is at the risk and expense of the purchaser. As a service to the purchaser, MA may ship appropriate items solely via United Parcel Service, (UPS) Ground. MA will not ship by any other method including USPS, and property requiring freight shipment. MA will, in no event insure the property whether or not packaged and shipped by MA. MA shall not, under any circumstances, be liable for the loss, theft or damage to property, including, but not limited to selection of shipper, the acts or omissions of any shipper or the acts or omissions occurring in packing for shipment. It is the purchaser’s responsibility to obtain a shipping quote for any lot being offered, from an outside shipper, prior to the auction date. (As a courtesy, MA may provide quotes for items to be shipped via UPS). Post sale determination of shipping costs does not constitute grounds for cancellation of any purchase made at auction.

Purchasers are advised that large and fragile items can be expensive and that MA will ship no property without first obtaining consent from the purchaser and only after packing and shipping costs have been disclosed by MA. When MA is to pack and ship, MA will provide to the bidder with a quote for cost of packing and handling and the UPS fee. The Purchaser is responsible for any insurance of the shipment.

Shipment will not be made until both all sums due MA including the shipping and handling fees as quoted, and written confirmation is received that insurance has been waived or has been obtained by purchaser. Shipment may take up to 21 days after payment is received.

MEDIATION AND ARBITRATION PROCEDURES (a) Within 30 days of written notice that there is a dispute, the parties or their representatives may meet at a time and place mutually agreed upon, to mediate their differences. If the parties agree, a mediator acceptable to the parties shall be selected.

The mediator shall be an attorney, trained in mediation techniques and familiar with commercial law and the California Uniform Commercial Code (UCC). The mediator’s fees shall be shared equally and paid by all parties. At the mediation, all parties shall have actual authority to settle the dispute. Any statements made during, and all aspects of, the mediation process shall be kept confidential and shall not be admissible in any subsequent arbitration or judicial proceeding. Any resolution shall be confidential. (b) If the parties cannot agree to mediation, or if mediation does not resolve the dispute, or in any event no longer than 60 days after receipt of written notice referred to above, the parties shall submit the dispute for binding arbitration before a single neutral arbitrator jointly selected, or absent agreement, selected from the panel of Arbitrators provided by the American Arbitration Association (AAA). If, within 15 days, the parties cannot agree on an arbitrator, then AAA shall select one (1) person as arbitrator in accord with AAA rules. The arbitrator shall be an attorney, experienced in commercial law and with the UCC. The arbitrator shall be required to follow the law in making his award, and the award shall be in writing and shall set forth findings of fact and legal conclusions.(c) The arbitration shall occur within 60 days of the selection of the arbitrator, in either Oakland or San Francisco,

California, unless the parties agree to another location. Discovery and the procedure for the Arbitration shall, unless otherwise agreed to by the parties, follow the procedures and policies of AAA governing commercial arbitration, subject however to the following modifications: 1. All arbitration proceedings shall be confidential.

None of the parties nor the arbitrator, may disclose the existence, content or results of the arbitration without the written consent of all parties.

2. The parties shall attempt to agree on the issues to be arbitrated, or identify the disputed issues in writing no later than 45 days prior to arbitration.

3. Unless otherwise agreed by the parties, discovery, if any, shall be limited as follows: (a) Requests for no more than 10 clearly identified categories of documents, to be provided to the requesting party within 14 days of written request therefore; (b) Depositions: No more than two (2) per party, provided however, the deposition(s) are to be completed within one (1) day; (c) Compliance with the above shall be enforced by the arbitrator in accord with California law.

4. Each party shall have no longer than eight (8) hours to present its position. The entire hearing before the arbitrator shall not take longer than three (3) consecutive days, unless all parties agree otherwise in writing.

The award shall be made in writing no more than 30 days following the end of the proceeding. Judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof.

Each party shall bear its own attorney’s fees and costs in connection with the proceedings and shall share equally the fees and expenses of the arbitrator.

This auction is being conducted in compliance with section 2328 of the Commercial Code, section 535 of the Penal Code, and provisions of the California Civil Code.

Bonded pursuant to California Civil Code sec 1812.600 et seq. Bond # 71393954 JEWELRY SOLD AT MICHAAN’S AUCTIONS: It is the responsibility of the bidder to examine carefully any item(s) of potential interest.

For all the jewelry sold here at Michaan’s Auctions the following applies: All gemstone weights are approximate.

We are aware of the many types of treatments and/ or enhancements used today on diamonds and colored stones. The purpose is to improve their appearance i.e. color and/or clarity. Techniques like heat treatments, color diffusion, irradiated, HTHP, oiling, resin, bleaching, dying and impregnation are just a few techniques known today. Some treatments combined. Some treatments are not detectable using standard gemological procedures. Not all treatments are permanent. Prospective buyers are therefore reminded that unless otherwise noted in the description(s), it must be assumed that some form of enhancement may have been used.

Regarding laboratories certification: The certifications mentioned in the descriptions only reflect the opinions of the laboratory. From one laboratory to another they do differ on the degrees of grading and/or treatments. And if a stone has a certificate from a laboratory we cannot guarantee this grading.

Watches must be examined carefully. Although we do attempt to mention in our descriptions significant defects, needed repairs, absent stones and the like, we do not guarantee the accuracy or operation of any watch function.

Detailed condition reports are available for most pieces. These reports contain more information than

the catalog descriptions. Images shown may appear smaller or larger than actual size.

ASIAN ARTS DISCLAIMER: We are aware of the many types of treatments and/ or enhancements used today on jade. The purpose is to improve their appearance, i.e. color and/or clarity.

Techniques like bleaching, dying and impregnation are just a few techniques known today. These treatments are not detectable using standard gemological procedures. Not all are permanent. Prospective buyers are therefore reminded that unless otherwise noted in the description(s),1 it must be assumed that some form of enhancement may have been used.

1 Accompanied by a laboratory report stating natural, no evidence of treatment.

PROPERTY MADE FROM OR CONTAINING MATERIALS FROM ENDANGERED OR PROTECTED SPECIES Property that contains any percentage of material made or potentially made from endangered and/or other protected species of wildlife are, as a courtesy, marked in the catalogue with the symbol “ * ”.

Michaan’s Auctions does not accept any responsibility or liability for failing to mark such lots. Such material includes, but is not limited to, ivory, tortoise shell, crocodile skin, whalebone, rhinoceros horn, some species of coral and certain woods.

Prospective buyers are advised that several countries completely prohibit importation of property made, all or in part, of proscribed materials. Some countries require special permits, such as a CITES permit, from the relevant regulating authority in the countries of exportation and importation as well.

Potential buyers intending to import the property into another country should be familiar with the relevant customs laws and regulations prior to bidding on property containing wildlife material. Regulations may vary as the U.S. prohibits importation of articles containing material(s) from species it has designated endangered or threatened if the articles are less than 100 years old.

It shall be the potential buyer’s sole responsibility to research and satisfy the requirements of any laws and regulations that apply to the import and export of property as described in the aforementioned paragraphs. Prospective buyers must also note that the inability or delay in obtaining permits, licenses or other permissions to import or export property containing potentially regulated wildlife material will not constitute a basis for rescission or cancellation of the sale of said property or the delay in payment of purchased items in accordance with the Conditions of Sale.

NO GUARANTEE OF AUTHENTICITY FOR CHINESE PAINTINGS Currently, scholarship in the field of Chinese paintings precludes the ability to provide unqualified

statements or opinions as to Authorship or date of execution. The terms for RESCISSION in the Conditions of Sale, (as set out on our internet site and in our catalogues) does not apply to Chinese paintings. However, if within twenty (20) days of the sale of any such lot, the original purchaser provides Michaan’s with both written notice that the lot is a forgery, and within seven (7) days after written notice, said purchaser returns the lot to us in the same condition as when sold and demonstrates to our satisfaction that the lot is a forgery, Michaan’s will rescind the sale and refund the purchase price received to the original purchaser. “Forgery” for the purposes of this provision, is defined as a work created with the intent to deceive.

Definitions of Authorship: This is to qualify the relationship between the object and the named person in the catalogue. The following conventions for attribution are used by Michaan’s Auctions: Giovanni Bellini: In our opinion a work by the artist. When the artist’s forename(s) is not known, a series of asterisks, followed by the surname of the artist, whether preceded by an initial or not, indicates that in our opinion the work is by the artists named.

Attributed to Giovanni Bellini: In our opinion probably a work by the artist but less certainty as to authorship is expressed than in the preceding category.

Studio of Giovanni Bellini: In our opinion a work by an unknown hand in the studio of the artist, which may or may not have been executed under the artist’s direction.

Circle of Giovanni Bellini: In our opinion a work by an as yet unidentified by distinct hand, closely associated with the named artist but not necessarily his pupil.

Style of ......; follower of Giovanni Bellini: In our opinion a work by a painter working in the artist’s style, contemporary or near contemporary, but not necessarily his pupil.

Manner of Giovanni Bellini: In our opinion a work in the style of the artist and of a later date. after Giovanni Bellini: In our opinion a copy of a known work of the artist.

The term signed and/or dated and/or inscribed means that in our opinion the signature and/or date and/or inscription are from the hand of the artist.

The term bears a signature and/or date and/or inscription means that in our opinion the signature and/or date and/or inscription have been added by another hand. “bearing signature...”/”bearing date...”/”bearing inscription...” In our opinion the signature/date/inscription is by a hand other than that of the artist.

Typical Headings:

FURNITURE George III Mahogany Chest of Drawers Third Quarter 18th Century This heading, with date included, means that the piece is, in our opinion, of the period indicated with no major alterations or restorations.

George III Mahogany Chest of Drawers This heading, without the inclusion of the date, indicates that, in our opinion, the piece, while basically of the period, has undergone significant restoration and alteration.

George III Style Mahogany Chest of Drawers The inclusion of the word “style” in the heading indicates that, in our opinion, the piece was made as an intentional reproduction of an earlier style.

BRONZES Antoine-Louis Barye This heading indicates that the casting and patination were done by the artist or with his direct authorization or supervsion.

Cast After a Model by Antoine-Louis Barye This heading indicates that the casting and patination of a known Barye model were done by another, i.e., artisans at the F. Barbedienne or other foundry.

CERAMICS Meissen Porcelain Cup and Saucer Late 19th Century This states that the cup and saucer were made at the Meissen factory in the last quarter of the 19th Century.

Meissen Porcelain Cup and a Saucer Late 19th Century Again, this states that the cup and saucer were made at the Meissen factory in the last quarter of the 19th Century, but it also indicates that the cup and saucer may not have been “born” together.

Meissen Porcelain Cup and Saucer Circa 1900 This states that the cup and saucer are of Meissen style, and although of the date specified, not necessarily made at the Meissen factory.

‘Meissen’ Porcelain Cup and a Saucer 19th Century This states that the cup and saucer are of Meissen style, and although of the date specified, not necessarily made at the Meissen factory.

Meissen Porcelain Cup and Saucer The title without a specific date simply states that the pieces were made at the Meissen factory but does not specify when, implying that their age is questionable.

Bid Increments Minimum Value from US $ 0 from US $ 50 from US $ 200 from US $ 500 from US $ 1,000 from US $ 2,000 from US $ 5,000 from US $ 10,000 from US $ 20,000

Maximum Value to US $ 49 to US $ 199 to US $ 499 to US $ 999 to US $ 1,999 to US $ 4,999 to US $ 9,999 to US $ 19,999 and above

Expected Bid Increment US $ 5 US $ 10 US $ 25 US $ 50 US $ 100 US $ 250 US $ 500 US $ 1,000 US $ 2,500

$ $XJXVW (VWDWH $XFWLRQ

&ROOHFWLRQ RI 7KUHH 5HWUR 6LOYHU *LOW %URRFKHV

(VWLPDWH

,QFOXGLQJ D IORUDO OHDI GHVLJQ PHDVXULQJ DSSUR[LPDWHO\ [ LQFKHV DFFHQWHG E\ WKUHH DPEHU FRORU JODVV VWRQHV DQ RYDO EURRFK PHDVXULQJ DSSUR[LPDWHO\ [ LQFKHV DFFHQWHG E\ ILYH JUHHQ JODVV VWRQHV WRJHWKHU ZLWK D IORUDO VZLUO EURRFK PHDVXULQJ DSSUR[LPDWHO\ [ LQFKHV IHDWXULQJ VL[ SXUSOH DQG FRORUOHVV JODVV VWRQHV

&ROOHFWLRQ RI 7KUHH &LWULQH $JDWH -DVSHU 0DUFDVLWH 6WHUOLQJ 6LOYHU 6LOYHU -HZHOU\

,QFOXGLQJ RQH 6FRWWLVK FLWULQH MDVSHU VLOYHU EURRFK RQH DJDWH PDUFDVLWH VWHUOLQJ VLOYHU ULQJ VL]H WRJHWKHU ZLWK D MDVSHU VLOYHU EURRFK ^*URVV :HLJKW GZWV`

(VWLPDWH

9LFWRULDQ +DUG 6WRQH &DPHR N *ROG 'HPL 3DUXUH

&ROOHFWLRQ RI 9LFWRULDQ &RVWXPH -HZHOU\

,QFOXGLQJ D 9LFWRULDQ EODFN JODVV PHWDO PRXUQLQJ VXLWH LQFOXGLQJ EURRFK DQG VFUHZ EDFN HDUULQJV DQ DUW QRXYHDX JODVV PHWDO EDQJOH WRJHWKHU ZLWK D JUHHQ JODVV PHWDO QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK

(VWLPDWH

(VWLPDWH

5HQDLVVDQFH 5HYLYDO 6W\OH &RVWXPH -HZHOU\ 6XLWH

(VWLPDWH

,QFOXGLQJ D FXOWXUHG SHDUO VHHG SHDUO SDVWH PHWDO SHQGDQW QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK VXVSHQGLQJ D SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK WRJHWKHU ZLWK D PDWFKLQJ SDLU RI VFUHZ EDFN HDUULQJV PHDVXULQJ DSSUR[LPDWHO\ PP LQ OHQJWK DQG D PDWFKLQJ ULQJ VL]H

1RWH 6RPH VWRQHV DQG VHHG SHDUOV PLVVLQJ DQG GLVFRORUDWLRQ WR WKH PHWDO

&ROOHFWLRQ RI $PEHU N <HOORZ *ROG -HZHOU\

,QFOXGLQJ RQH JUDGXDWHG IDFHWHG DPEHU EHDG N \HOORZ JROG LQFK QHFNODFH WRJHWKHU ZLWK D UHFWDQJXODU DPEHU EHDG EUDFHOHW

(VWLPDWH

&ROOHFWLRQ RI 7ZR 0XOWL 6WRQH <HOORZ *ROG 6LOYHU -HZHOU\ ,WHPV

&ROOHFWLRQ RI $UW 'HFR 0XOWL 6WRQH 6LOYHU &RVWXPH -HZHOU\

(VWLPDWH

,QFOXGLQJ D FDUQHOLDQ PDUFDVLWH VLOYHU MHZHOU\ VXLWH ZLWK D LQFK QHFNODFH D SDLU RI VFUHZ EDFN HDUULQJV PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK DQG D ULQJ VL]H WRJHWKHU ZLWK D 9LFWRULDQ FDUQHOLDQ PDUFDVLWH VLOYHU EURRFK PHDVXULQJ DSSUR[LPDWHO\ [ PP D FKDOFHGRQ\ PDUFDVLWH VLOYHU ULQJ VL]H D SDLU RI VWHUOLQJ VLOYHU RQ\[ JODVV SDVWH GURS HDUULQJV PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK DQG SDVWH VLOYHU EUDFHOHW PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK 1RWH &KDOFHGRQ\ ULQJ VKDQN LV EURNHQ

&RPSULVLQJ D SDLU RI HDUULQJV DQG D SHQGDQW EURRFK IHDWXULQJ FDUYHG KDUG VWRQH FDPHRV RI D ODG\ LQ SURILOH SURQJ VHW LQ N \HOORZ DQG URVH JROG PRXQWLQJV DFFHQWHG E\ IORUDO DQG OHDI GHVLJQV WKH SHQGDQW KDV D IROG RYHU EDOH DQG PHDVXUHV DSSUR[LPDWHO\ [ PP WKH HDUULQJV DUH DUWLFXODWHG DQG PHDVXUH DSSUR[LPDWHO\ [ PP WRJHWKHU ZLWK DQ RULJLQDO ER[

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

,QFOXGLQJ RQH JUDGXDWHG FDUYHG DPHWK\VW EHDG QHFNODFH ZLWK ULEEHG EHDGV PHDVXULQJ DSSUR[LPDWHO\ EHWZHHQ WR PP IRUPLQJ D LQFK QHFNODFH FRPSOHWHG E\ D VLOYHU JLOW FODVS WRJHWKHU ZLWK D FDUQHOLDQ EHDG QHFNODFH IHDWXULQJ PP EHDGV IRUPLQJ D LQFK QHFNODFH ZLWK D UHPRYDEOH FDUYHG VHUSHQWLQH SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ PP LQ GLDPHWHU

3DJH

$ $XJXVW (VWDWH $XFWLRQ

%UDQFK &RUDO 0HWDO -HZHOU\ 6XLWH

-DGH N <HOORZ *ROG 3HQGDQW (QKDQFHU

,QFOXGHG D JUDGXDWHG EUDQFK FRUDO QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG ZLWK D PHWDO FKDLQ DQG FODVS WRJHWKHU ZLWK D PDWFKLQJ SDLU RI FOLS HDUULQJV

(VWLPDWH

7KH FDUYHG MDGHLWH SODTXH PHDVXULQJ DSSUR[LPDWHO\ [ PP GHSLFWV WZR EDWV DQG D FRLQ DWWDFKHG E\ FRQWLQXRXV MDGHLWH OLQNV FRPSOHWHG E\ D N \HOORZ JROG KLQJHG HQKDQFHU EDLO ^*URVV :HLJKW GZWV`

(VWLPDWH

&ROOHFWLRQ RI 7KUHH &RUDO N <HOORZ *ROG %UDFHOHWV

(VWLPDWH

7KH WKUHH IDQF\ OLQN EUDFHOHWV PHDVXULQJ DSSUR[LPDWHO\ EHWZHHQ WR LQFKHV LQ OHQJWK DQG DOWHUQDWLQJ EHWZHHQ EUDQFK FRUDO EHDGV DQG N \HOORZ JROG IDQF\ OLQNV DQG DUH FRPSOHWHG E\ IROG RYHU FODVSV ^*URVV :HLJKW GZWV`

-DGH N <HOORZ *ROG 5LQJ

)HDWXULQJ D FDUYHG MDGH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP SURQJ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

&ROOHFWLRQ RI )LYH -DGH N <HOORZ *ROG 'LVF 3HQGDQWV

&RUDO N <HOORZ *ROG -HZHOU\ 6XLWH

,QFOXGLQJ WZR MDGHLWH GLVF PXOWLFRORUHG MDGHLWH FDERFKRQV N \HOORZ JROG SHQGDQWV WZR MDGHLWH GLVFV N \HOORZ JROG SHQGDQWV WRJHWKHU ZLWK RQH MDGHLWH GLVF N \HOORZ JROG SHQGDQW ^*URVV :HLJKW GZWV`

,QFOXGLQJ RQH SDLU RI FDUYHG FRUDO IORZHU PRWLI N \HOORZ JROG HDUULQJV WRJHWKHU ZLWK D PDWFKLQJ FDUYHG FRUDO IORZHU PRWLI N \HOORZ JROG SHQGDQW ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

&ROOHFWLRQ RI )LYH -DGH *ROG 3HQGDQWV

-DGH %UDFHOHW

7KH FDUYHG MDGHLWH EDQJOH PHDVXULQJ DSSUR[LPDWHO\ PP DQG PHDVXULQJ DSSUR[LPDWHO\ PP LQWHUQDO GLDPHWHU

,QFOXGLQJ RQH FDUYHG MDGHLWH KRUQ N \HOORZ JROG SHQGDQW RQH FDUYHG MDGHLWH JRXUG N \HOORZ JROG SHQGDQW RQH FDUYHG MDGHLWH OHDI \HOORZ JROG SHQGDQW WRJHWKHU ZLWK WZR FDUYHG MDGH \HOORZ JROG SHQGDQWV

(VWLPDWH

(VWLPDWH

-DGH N <HOORZ *ROG 1HFNODFH

(VWLPDWH

)HDWXULQJ RQH FDUYHG MDGHLWH SODTXH PHDVXULQJ DSSUR[LPDWHO\ [ [ PP GHSLFWLQJ D ELUG DQG D JRXUG VXVSHQGHG IURP D N \HOORZ JROG ILJDUR OLQN FKDLQ DFFHQWHG E\ WKLUWHHQ MDGHLWH EHDGV PHDVXULQJ DSSUR[LPDWHO\ WR PP IRUPLQJ D LQFK QHFNODFH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&ROOHFWLRQ RI 7ZR -DGH 0XOWL 6WRQH N <HOORZ *ROG -HZHOU\ ,WHPV

(VWLPDWH

,QFOXGLQJ D JUDGXDWHG MDGH EHDG QHFNODFH FRPSRVHG RI MDGH EHDGV PHDVXULQJ DSSUR[LPDWHO\ EHWZHHQ WR PP IRUPLQJ D LQFK QHFNODFH FRPSOHWHG ZLWK D N \HOORZ JROG EDOO FODVS WRJHWKHU ZLWK D MDGH ULQJ HQKDQFHU SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ PP LQ GLDPHWHU DFFHQWHG E\ SHULGRW JDUQHW DPHWK\VW FLWULQH EOXH WRSD] VWRQHV SURQJ VHW LQ D N \HOORZ JROG PRXQWLQJ

-DGH &LWULQH 9HUPHLO 1HFNODFH

(VWLPDWH

&ROOHFWLRQ RI )LYH -DGH N <HOORZ *ROG 3HQGDQWV

,QFOXGLQJ WZR PXOWLFRORUHG MDGHLWH FDERFKRQ DSSOH N \HOORZ JROG SHQGDQWV WRJHWKHU ZLWK WKUHH PXOWLFRORUHG MDGHLWH FDERFKRQ N \HOORZ JROG SHQGDQWV

-DGH &XOWXUHG 3HDUO 9HUPHLO 1HFNODFH

)HDWXULQJ D FDUYHG MDGH SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ [ PP VXVSHQGHG IURP D PXOWL VWUDQG FXOWXUHG SHDUO MDGH DQG YHUPHLO QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG E\ D KRRN DQG H\H FODVS

)HDWXULQJ D FDUYHG FLWULQH SHQGDQW GHSLFWLQJ D FKLFNHQ DQG PHDVXULQJ DSSUR[LPDWHO\ [ PP VXVSHQGHG IURP D LQFK QHFNODFH FRPSRVHG RI PP MDGH EHDGV DQG IDFHWHG IUHH IURP FLWULQH EHDGV DFFHQWHG E\ YHUPHLO GLVF DQG KRRN DQG H\H FODVS

(VWLPDWH

-DGH N <HOORZ *ROG 5LQJ

(VWLPDWH

)HDWXULQJ RQH RYDO MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP DFFHQWHG E\ ILIW\ IRXU IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

-DGH N <HOORZ *ROG 5LQJ

)HDWXULQJ RQH MDGHLWH VDGGOH VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

-DGH %UDFHOHW

(VWLPDWH

7KH FDUYHG MDGHLWH EDQJOH PHDVXULQJ DSSUR[LPDWHO\ PP DQG PHDVXULQJ DSSUR[LPDWHO\ PP LQWHUQDO GLDPHWHU

1HSKULWH &XOWXUHG 3HDUO N <HOORZ *ROG -HZHOU\ 6XLWH

,QFOXGLQJ RQH QHSKULWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP N \HOORZ JROG ULQJ VL]H WRJHWKHU ZLWK RQH QHSKULWH FDERFKRQ FXOWXUHG SHDUO N \HOORZ JROG LQFK EUDFHOHW ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

%RQH $PEHU -DGH 9HUPHLO 1HFNODFH

(VWLPDWH

)HDWXULQJ D FDUYHG ERQH %XGGKD KHDG SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ [ PP VXVSHQGHG IURP D QHFNODFH FRPSRVHG RI DPEHU QXJJHWV DQG MDGH EHDGV ZLWK YHUPHLO DFFHQWV DQG PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG E\ D KRRN DQG H\H FODVS

&ROOHFWLRQ RI )RXU 0XOWL 6WRQH &XOWXUHG 3HDUO N <HOORZ *ROG -HZHOU\ ,WHPV

(VWLPDWH

&RUDO N <HOORZ *ROG -HZHOU\ 6XLWH

'LDPRQG N <HOORZ *ROG 5LQJ

,QFOXGLQJ D SDLU RI FDUYHG FRUDO URVH N \HOORZ JROG HDUULQJV WRJHWKHU ZLWK RQH PDWFKLQJ FDUYHG FRUDO URVH N \HOORZ JROG SHQGDQW ^*URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ RQH ROG (XURSHDQ FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

&DUYHG -DGH 6HUSHQWLQH 9HUPHLO 1HFNODFH

'LDPRQG N <HOORZ *ROG 5LQJ

)HDWXULQJ D FDUYHG MDGH SHQGDQW GHSLFWLQJ D GUDJRQ VXVSHQGHG IURP D LQFK QHFNODFH FRPSRVHG RI MDGH FDUYHG VHUSHQWLQH DQG YHUPHLO EHDGV FRPSOHWHG E\ D KRRN DQG H\H FODVS

(VWLPDWH

)HDWXULQJ HOHYHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

&XOWXUHG 3HDUO N <HOORZ *ROG 0HWDO -HZHOU\ 6XLWH

'LDPRQG N <HOORZ *ROG 5LQJ

,QFOXGLQJ RQH JUDGXDWHG WR PP FXOWXUHG SHDUO FRPSOHWHG E\ D PHWDO FODVS IRUPLQJ D LQFK QHFNODFH WRJHWKHU ZLWK D SDLU RI EDURTXH FXOWXUHG SHDUO N \HOORZ JROG HDUULQJV

(VWLPDWH

,QFOXGLQJ D KRUVH VKRH KRUVH V\QWKHWLF UXE\ N \HOORZ JROG SHQGDQW RQH KRUVH N \HOORZ JROG VWLFNSLQ RQH FXOWXUHG SHDUO N \HOORZ JROG KRUVH VKRH SHQGDQW WRJHWKHU ZLWK RQH VDSSKLUH N \HOORZ JROG KRUVH VKRH SHQGDQW ^*URVV :HLJKW GZWV`

&HQWHULQJ RQH URXQG EULOOLDQW FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW VXUURXQGHG E\ WKLUW\ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D FOXVWHU PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

0XOWL 6WRQH 6LOYHU N <HOORZ *ROG %HH %URRFK

(VWLPDWH

'HVLJQHG DV D EHH IHDWXULQJ RQH RYDO FXW DQG WZR URXQG FXW DPHWK\VWV WKUHH URXQG FXW FDERFKRQ JDUQHWV DFFHQWHG E\ VL[ KDOI SHDUOV VHW LQ D VLOYHU EHH PRXQWLQJ DWWDFKHG WR D N \HOORZ JROG EDU EURRFK ^*URVV :HLJKW GZWV`

$XVWULDQ )RXU 'XFDW N <HOORZ *ROG 3HQGDQW

)HDWXULQJ RQH IRXU GXFDW JROG FRLQ PHDVXULQJ DSSUR[LPDWHO\ PP VHW LQ DQ N \HOORZ JROG IUDPH ^*URVV :HLJKW GZWV`

(VWLPDWH

'LDPRQG N <HOORZ *ROG /LRQ 5LQJ

6\QWKHWLF 6SLQHO 'LDPRQG N <HOORZ *ROG 5LQJ

'HVLJQHG DV D OLRQ KHDG IHDWXULQJ WKUHH URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

)HDWXULQJ RQH FXVKLRQ FXW V\QWKHWLF VSLQHO DFFHQWHG E\ WZR URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N <HOORZ *ROG 0RXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

&XOWXUHG 3HDUO N <HOORZ *ROG 1HFNODFH

6PRN\ 4XDUW] N <HOORZ *ROG %HH %URRFK

&RPSRVHG RI HLJKWHHQ EDURTXH FXOWXUHG SHDUOV PHDVXULQJ DSSUR[LPDWHO\ [ PP FRPSOHWHG E\ D N \HOORZ JROG ILVK KRRN FODSV IRUPLQJ DQ LQFK QHFNODFH

'HVLJQHG DV D EHH IHDWXULQJ RQH RYDO DQG RQH KHDUW VKDSHG VPRN\ TXDUW] VHW LQ D N \HOORZ JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

6\QWKHWLF $OH[DQGULWH /LNH &RUXQGXP -DGH 'LDPRQG N <HOORZ *ROG 'UDJRQ 5LQJ

(QDPHO <HOORZ *ROG &KDUP %UDFHOHW

(VWLPDWH

7KH N \HOORZ JROG DQG JROG ILOOHG LQFK FKDLQ OLQN EUDFHOHW IHDWXULQJ WZHQW\ RQH JROG FKDUPV LQFOXGLQJ RQH N ]RGLDF GLVF RQH N ZKLVWOH RQH N PRQNH\ RQH N WXUWOH RQH N EDOO D N KHDUW ORFNHW WZR N WK ELUWKGD\ GLVFV RQH N WHOHSKRQH D N JLUO ILJXUH RQH N ILJD RQH N GRJ RQH ILVK RQH N VKLHOG RQH N JUDGXDWLRQ FDS RQH SDLU RI N KDQGFXIIV RQH N SDLQWHUV SDOHWWH RQH N KRUVH VKRH FORYHU RQH N FURVV RQH N JHQLHV ODPS DQG ERRN DQG RQH QDPH WDJ GLVF *URVV :HLJKW GZWV

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

'HVLJQHG DV WZR GUDJRQV E\SDVVLQJ FHQWHULQJ RQH URXQG FXW V\QWKHWLF DOH[DQGULWH OLNH FRUXQGXP DFFHQWHG E\ RQH URXQG MDGHLWH FDERFKRQ IXUWKHU HQKDQFHG E\ ILYH URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV` 1RWH 'LDPRQG LV FKLSSHG

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$PHWK\VW 'LDPRQG N <HOORZ *ROG 5LQJ

3DLU RI 2SDO 'LDPRQG N <HOORZ *ROG (DUULQJV

&HQWHULQJ RQH IDFHWHG WRS DPHWK\VW ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ IRUW\ HLJKW IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(DFK FHQWHUV RQH RYDO RSDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VXUURXQGHG E\ VL[WHHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

-DGH 9HUPHLO 1HFNODFH

%OXH 7RSD] N <HOORZ *ROG %UDFHOHW

)HDWXULQJ ILYH FDUYHG MDGH IORZHU SHQGDQWV VXVSHQGHG IURP D MDGH EHDG DQG YHUPHLO GLVF QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG ZLWK D KRRN DQG H\H FODVS

(VWLPDWH

)HDWXULQJ WHQ RYDO FXW EOXH WRSD] VHW LQ D OLQNHG N \HOORZ JROG LQFK EUDFHOHW ^*URVV :HLJKW GZWV` 1RWH 2QH VWRQH LV FKLSSHG

(VWLPDWH

(PHUDOG 'LDPRQG N <HOORZ *ROG 5LQJ

0RUJDQLWH 'LDPRQG N 5RVH *ROG 3HQGDQW

&HQWHULQJ RQH HPHUDOG FXW HPHUDOG ZHLJKLQJ DSSUR[LPDWHO\ FW VXUURXQGHG E\ HLJKW IXOO FXW DQG IRXU EDJXHWWH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

&HQWHULQJ RQH WULDQJXODU FXW PRUJDQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ VL[W\ QLQH IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N URVH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

(PHUDOG 'LDPRQG N <HOORZ *ROG %UDFHOHW

(VWLPDWH

)HDWXULQJ VHYHQWHHQ RYDO FXW HPHUDOGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ VHYHQWHHQ VLQJOH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG LQFK EUDFHOHW ^*URVV :HLJKW GZWV`

3HULGRW 'LDPRQG N 5RVH *ROG 5LQJ

)HDWXULQJ RQH SHDU FXW SHULGRW ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ WZHQW\ VHYHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N URVH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

=LUFRQ 'LDPRQG 3ODWLQXP N <HOORZ *ROG 5LQJ

2SDO 'LDPRQG N <HOORZ *ROG 3HQGDQW

&HQWHULQJ RQH SHDU RSDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP DFFHQWHG E\ WKLUW\ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ RQH RYDO FXW EOXH ]LUFRQ ZHLJKLQJ DSSUR[LPDWHO\ FWV IODQNHG E\ WZR IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D SODWLQXP N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

%OXH 7RSD] N <HOORZ *ROG %UDFHOHW

6DSSKLUH 'LDPRQG N <HOORZ *ROG 5LQJ

)HDWXULQJ WKLUW\ WKUHH URXQG FXW EOXH WRSD] VHW LQ D N \HOORZ JROG LQFK EUDFHOHW ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

7XUTXRLVH N <HOORZ *ROG 5LQJ

5XE\ 'LDPRQG N <HOORZ *ROG 5LQJ

)HDWXULQJ RQH RYDO WXUTXRLVH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ ILYH VTXDUH FXW VDSSKLUHV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ WHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

)HDWXULQJ WKUHH RYDO FXW UXELHV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ IRXU IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

'LDPRQG N <HOORZ *ROG 5LQJ

5XE\ 'LDPRQG &XOWXUHG 3HDUO 3ODWLQXP N <HOORZ *ROG %URRFK

)HDWXULQJ VHYHQWHHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

'LDPRQG N :KLWH *ROG 5LQJ

7DQ]DQLWH 'LDPRQG <HOORZ *ROG -HZHOU\ 6XLWH

&HQWHULQJ RQH URXQG FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW IODQNHG E\ IRXU VLQJOH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

,QFOXGLQJ RQH WDQ]DQLWH GLDPRQG N \HOORZ JROG ULQJ VL]H RQH SDLU RI WDQ]DQLWH GLDPRQG N \HOORZ JROG HDUULQJV WRJHWKHU ZLWK RQH SDLU RI WDQ]DQLWH N \HOORZ JROG HDUULQJV ^*URVV :HLJKW GZWV`

(VWLPDWH

%ODFN 2Q\[ 'LDPRQG N <HOORZ *ROG 5LQJ

)HDWXULQJ RQH PP FXOWXUHG SHDUO DFFHQWHG E\ WZHOYH VTXDUH FXW UXELHV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ IXUWKHU HQKDQFHG E\ WZHQW\ IRXU URVH FXW GLDPRQGV VHW LQ D SODWLQXP WRSSHG N \HOORZ JROG ULEERQ PRWLI PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ RQH VTXDUH EODFN RQ\[ WDEOHW DFFHQWHG E\ WZR IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&ROOHFWLRQ RI 7ZR 3DLUV RI &XOWXUHG 3HDUO 6DSSKLUH N <HOORZ *ROG (DUULQJV

7DQ]DQLWH 'LDPRQG N <HOORZ *ROG 5LQJ

,QFOXGLQJ D SDLU RI FXOWXUHG SHDUO VDSSKLUH N \HOORZ JROG QRQ SLHUFHG HDUULQJV WRJHWKHU ZLWK RQH SDLU RI N \HOORZ JROG QRQ SLHUFHG HDUULQJV ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

7DQ]DQLWH 'LDPRQG <HOORZ *ROG 3HQGDQW 1HFNODFH

(VWLPDWH

)HDWXULQJ RQH WULDQJXODU WDQ]DQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ RQH PDUTXLVH FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW VHW LQ D N \HOORZ JROG SHQGDQW PRXQWLQJ VXVSHQGHG IURP DQ N \HOORZ JROG ZKHDW OLQN LQFK FKDLQ ^*URVV :HLJKW GZWV`

7DQ]DQLWH 'LDPRQG N :KLWH *ROG 3HQGDQW

&HQWHULQJ RQH RYDO FXW WDQ]DQLWH ZHLJKLQJ DSSUR[LPDWHO\ FW DFFHQWHG E\ VL[W\ ILYH IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

/DSLV /D]XOL 'LDPRQG N <HOORZ *ROG -HZHOU\ 6XLWH

6DSSKLUH 'LDPRQG 3ODWLQXP 5LQJ

,QFOXGLQJ RQH RYDO ODSLV OD]XOL FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ [ PP GLDPRQG N \HOORZ JROG ULQJ VL]H WRJHWKHU ZLWK RQH PDWFKLQJ SHQGDQW ^*URVV :HLJKW GZWV`

(VWLPDWH

&HQWHULQJ RQH RYDO FXW WDQ]DQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ RQH KXQGUHG DQG WKLUWHHQ IXOO FXW GLDPRQGV DQG VL[WHHQ SULQFHVV FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

&HQWHULQJ RQH URXQG FXW VDSSKLUH ZHLJKLQJ DSSUR[LPDWHO\ FW DFFHQWHG E\ VL[WHHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D SODWLQXP PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

'LDPRQG (QDPHO N <HOORZ *ROG %URRFK

&ROOHFWLRQ RI 7KUHH 'LDPRQG (PHUDOG 6\QWKHWLF 6SLQHO *ROG -HZHOU\

)HDWXULQJ VHYHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ JUHHQ DQG EOXH HQDPHO VHW LQ DQ N \HOORZ JROG IORZHU PRWLI PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

,QFOXGLQJ RQH SDLU RI 9LFWRULDQ N \HOORZ JROG GRXEOH VLGHG FXIIOLQNV ZLWK D ILWWHG ER[ RQH FW GLDPRQG HPHUDOG N ZKLWH JROG ULQJ VL]H WRJHWKHU ZLWK D V\QWKHWLF VSLQHO N ZKLWH JROG ULQJ VL]H

^*URVV :HLJKW GZWV`

/DSLV /D]XOL 9HUPHLO *ROG )LOOHG 1HFNODFH

)HDWXULQJ D ODSLV DQG YHUPHLO WDVVHO SHQGDQW VXVSHQGHG IURP D PDWFKLQJ QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG E\ D KRRN DQG H\H FODVS

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7DQ]DQLWH 'LDPRQG N :KLWH *ROG 5LQJ

3DLU RI 2SDO 6DSSKLUH 'LDPRQG N :KLWH *ROG (DUULQJV

&HQWHULQJ RQH RYDO FXW WDQ]DQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV VXUURXQGHG E\ HLJKW\ VL[ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

6DSSKLUH 'LDPRQG N :KLWH *ROG 5LQJ

(VWLPDWH

&HQWHULQJ RQH RYDO FXW VDSSKLUH ZHLJKLQJ DSSUR[LPDWHO\ FWV VXUURXQGHG E\ IRXUWHHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ DQ N ZKLWH JROG PRXQWLQJ $FFRPSDQLHG E\ D *,$ *HP 7UDGH /DERUDWRU\ 5HSRUW GDWHG 'HFHPEHU VWDWLQJ 1R LQGLFDWLRQV RI KHDWLQJ ^6L]H *URVV :HLJKW GZWV`

$TXDPDULQH 'LDPRQG N :KLWH *ROG 5LQJ

&HQWHULQJ RQH RYDO DTXDPDULQH ZHLJKLQJ DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ WKLUW\ WZR IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

3DLU RI 2SDO 'LDPRQG N :KLWH *ROG (DUULQJV

&XOWXUHG 3HDUO 'LDPRQG N :KLWH *ROG %UDFHOHW

&RPSRVHG RI HLJKW\ WZR PP FXOWXUHG SHDUOV DFFHQWHG E\ IRUW\ ILYH IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG WKUHH VWUDQG FODVS DQG VSDFHU EDUV IRUPLQJ D LQFK EUDFHOHW ZLWK VDIHW\ FKDLQ

(VWLPDWH

(DFK FHQWHUV RQH RYDO RSDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VXUURXQGHG E\ WZHQW\ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

'LDPRQG N :KLWH *ROG 5LQJ

3DLU RI &XOWXUHG 3HDUO 'LDPRQG N :KLWH *ROG (DUULQJV

(VWLPDWH

(DFK IHDWXUHV RQH FXOWXUHG SHDUO PHDVXULQJ DSSUR[LPDWHO\ PP DFFHQWHG E\ VL[W\ ILYH IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG GURS VW\OH PRXQWLQJ ^*URVV :HLJKW GZWV`

(DFK IHDWXUHV RQH RYDO RSDO FDERFKRQ DFFHQWHG E\ WKUHH VTXDUH VDSSKLUHV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ DFFHQWHG E\ WKLUW\ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D GURS VW\OH N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

)HDWXULQJ VHYHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ IODQNHG E\ WZR EDJXHWWH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7DQ]DQLWH 'LDPRQG N :KLWH *ROG 5LQJ

3DLU RI 'LDPRQG N :KLWH *ROG (DUULQJV

&HQWHULQJ RQH RYDO FXW WDQ]DQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ RQH KXQGUHG DQG HLJKW IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

(DFK FHQWHUV RQH URXQG EULOOLDQW FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW VXUURXQGHG E\ HLJKWHHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ $FFRPSDQLHG E\ D *,$ *HP 7UDGH /DERUDWRU\ 5HSRUW GDWHG 1RYHPEHU VWDWLQJ 1DWXUDO YHU\ OLJKW EURZQ , FODULW\ ^*URVV :HLJKW GZWV`

'LDPRQG N :KLWH *ROG 5LQJ

)HDWXULQJ WKLUWHHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

3DLU RI &XOWXUHG 3HDUO 'LDPRQG :KLWH JROG (DUULQJV

(DFK IHDWXUHV RQH FXOWXUHG SHDUO DFFHQWHG E\ VHYHQWHHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ 1RWH %URNHQ

(VWLPDWH

&DW V (\H &KU\VREHU\O 'LDPRQG N :KLWH *ROG 5LQJ

(VWLPDWH

(VWLPDWH

3DLU RI 2SDO 'LDPRQG N :KLWH *ROG (DUULQJV

&HQWHULQJ RQH RYDO FDW V H\H FKU\VREHU\O PHDVXULQJ DSSUR[LPDWHO\ [ PP VXUURXQGHG E\ WZHQW\ HLJKW URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(DFK IHDWXUHV RQH RYDO RSDO FDERFKRQ DFFHQWHG E\ WKLUW\ WKUHH URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

3DLU RI 2SDO 'LDPRQG N :KLWH *ROG (DUULQJV

'LDPRQG N :KLWH *ROG 3HQGDQW 1HFNODFH

(DFK FHQWHUV RQH RYDO RSDO FDERFKRQ DFFHQWHG E\ WKLUW\ RQH IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ VHYHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ DQ N ZKLWH JROG MRXUQH\ PRXQWLQJ VXVSHQGHG IRUP D LQFK N ZKLWH JROG FKDLQ ^*URVV :HLJKW GZWV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

0RUJDQLWH 'LDPRQG N :KLWH *ROG 5LQJ

'LDPRQG N :KLWH *ROG %DQG

&HQWHULQJ RQH RYDO FXW PRUJDQLWH ZHLJKLQJ DSSUR[LPDWHO\ FWV DFFHQWHG E\ HLJKW\ VHYHQ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ QLQH EDJXHWWH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ DQ N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

2SDO 'LDPRQG N :KLWH *ROG 5LQJ

3DLU RI &RUDO 'LDPRQG N :KLWH *ROG (DUULQJV

&HQWHULQJ RQH RYDO RSDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VXUURXQGHG E\ IRUW\ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(DFK FHQWHUV RQH URXQG FRUDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ PP DFFHQWHG E\ ILYH URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ ^*URVV :HLJKW GZWV`

(VWLPDWH

2SDO 'LDPRQG N :KLWH *ROG 1HFNODFH

&RUDO 'LDPRQG N :KLWH *ROG 3HQGDQW

)HDWXULQJ RQH SHDU DQG RQH RYDO VKDSHG RSDO DFFHQWHG E\ RQH KXQGUHG DQG WKLUW\ VHYHQ GLDPRQGV VHW LQ D N ZKLWH JROG GURS VW\OH DUWLFXODWHG PRXQWLQJ VXVSHQGHG IURP D LQFK N ZKLWH JROG FKDLQ ^*URVV :HLJKW GZWV`

(VWLPDWH

&HQWHULQJ RQH RYDO FRUDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP DFFHQWHG E\ VL[ IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ

(VWLPDWH

'LDPRQG 3ODWLQXP 5LQJ

(VWLPDWH

&HQWHULQJ RQH PDUTXLVH FXW GLDPRQG ZHLJKLQJ DSSUR[LPDWHO\ FW IODQNHG E\ WZR WDSHUHG EDJXHWWH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D SODWLQXP PRXQWLQJ $FFRPSDQLHG E\ D *,$ *HP 7UDGH /DERUDWRU\ 5HSRUW GDWHG 'HFHPEHU VWDWLQJ + FRORU 96 FODULW\ ^6L]H *URVV :HLJKW GZWV`

3DLU RI -DGH 'LDPRQG N :KLWH *ROG (DUULQJV

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

(DFK IHDWXUHV RQH RYDO MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ [ PP DFFHQWHG E\ VL[WHHQ URXQG FXW DQG IRXU EDJXHWWH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N ZKLWH JROG PRXQWLQJ $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG 0D\ VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&ROOHFWLRQ RI 7ZR &DUYHG -DGH %DQJOHV

3DLU RI -DGH N <HOORZ *ROG (DUULQJV

,QFOXGLQJ WZR EDQJOHV HDFK PHDVXULQJ DSSUR[LPDWHO\ PP LQ ZLGWK ZLWK DQ LQWHUQDO PHDVXUHPHQW RI PP

(VWLPDWH

(VWLPDWH

)HDWXULQJ D MDGHLWH WHDU GURS SHQGDQW PHDVXULQJ DSSUR[LPDWHO\ [ PP VXVSHQGHG IURP D N \HOORZ JROG SLHUFHG PRXQWLQJ ZLWK &KLQHVH FKDUDFWHUV $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

-DGH N <HOORZ *ROG 5LQJ

&HQWHULQJ RQH RFWDJRQDO FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

-DGH N <HOORZ *ROG &KDUP %UDFHOHW

(VWLPDWH

(VWLPDWH

-DGH N <HOORZ *ROG 5LQJ

&HQWHULQJ RQH RYDO MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

-DGH &XOWXUHG 3HDUO 9HUPHLO *ROG )LOOHG 1HFNODFH

(VWLPDWH

-DGH N <HOORZ *ROG 5LQJ

&HQWHULQJ RQH RYDO MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

)HDWXULQJ D FDUYHG MDGH HOHSKDQW SHQGDQW VXVSHQGHG IURP D UHSRXVVH YHUPHLO EHDG IXUWKHU VXVSHQGHG IURP D FXOWXUHG SHDUO MDGH WXOLS EHDG YHUPHLO PXOWL VWUDQG QHFNODFH PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK FRPSOHWHG ZLWK D JROG ILOOHG KRRN DQG H\H FODVS

-DGH N <HOORZ *ROG 5LQJ

)HDWXULQJ RQH MDGHLWH VDGGOH VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

-DGH &XOWXUHG 3HDUO 9HUPHLO 1HFNODFH

(VWLPDWH

)HDWXULQJ WHQ FDUYHG MDGHLWH FKDUPV VXVSHQGHG IURP D N \HOORZ JROG IDQF\ OLQN EUDFHOHW PHDVXULQJ DSSUR[LPDWHO\ LQFKHV LQ OHQJWK DQG PP LQ ZLGWK FRPSOHWHG E\ D KRRN DQG H\H FODVS $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

)HDWXULQJ D FDUYHG MDGH SHQGDQW GHSLFWLQJ D GUDJRQ DQG PHDVXULQJ DSSUR[LPDWHO\ [ PP VXVSHQGHG IURP D LQFK QHFNODFH FRPSRVHG RI JUD\ FXOWXUHG SHDUOV ZLWK MDGH EHDG DQG YHUPHLO GLVF DFFHQWV FRPSOHWHG E\ D WRJJOH FODVS

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

3DLU RI -DGH N <HOORZ *ROG (DUULQJV

(VWLPDWH

(DFK IHDWXUHV D FDUYHG MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP EH]HO VHW DQG DFFHQWHG E\ D N \HOORZ JROG WZLVWHG ZLUH PRXQWLQJ FRPSOHWHG E\ D )UHQFK FOLS FORVXUH $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

-DGH (QDPHO N <HOORZ *ROG 6LOYHU *LOW %URRFK

'HVLJQHG DV D WUHH ZLWK D EOXH HQDPHOHG IOXWLVW VHDWHG DW WKH WUXQN DFFHQWHG E\ WZHQW\ RQH URXQG MDGHLWH FDERFKRQV VHW LQ D N \HOORZ JROG VLOYHU JLOW PRXQWLQJ ^*URVV :HLJKW GZWV` 1RWH 6RPH ORVV WR HQDPHO

(VWLPDWH

-DGH &XOWXUHG 3HDUO N <HOORZ *ROG %URRFK

-DGH 'LDPRQG N <HOORZ *ROG 5LQJ

(VWLPDWH

&HQWHULQJ RQH RYDO MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ [ PP VXUURXQGHG E\ WZHQW\ HLJKW IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

-DGH &XOWXUHG 3HDUO N <HOORZ *ROG %XWWHUIO\ %URRFK

-DGH N <HOORZ *ROG 5LQJ

)HDWXULQJ RQH MDGHLWH VDGGOH VHW LQ D N \HOORZ JROG PRXQWLQJ ^6L]H *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

3DLU RI -DGH 'LDPRQG N <HOORZ *ROG (DUULQJV

(VWLPDWH

(DFK IHDWXUHV WZR FDUYHG LQWHUORFNLQJ MDGHLWH ULQJV VXVSHQGHG IURP D N \HOORZ JROG QRQ SLHUFHG PRXQWLQJ DFFHQWHG E\ IRXU IXOO FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

)HDWXULQJ D SHDU VKDSHG MDGHLWH FDERFKRQ PHDVXULQJ DSSUR[LPDWHO\ [ PP VXUURXQGHG E\ FXOWXUHG SHDUOV SURQJ VHW LQ D ILOLJUHH EDU EURRFK PHDVXULQJ DSSUR[LPDWHO\ [ PP FRPSOHWHG E\ D SLQ VWHP FDWFK $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

)HDWXULQJ FDUYHG MDGHLWH ZLQJV DQG WKUHH FXOWXUHG SHDUOV SURQJ VHW LQ D N \HOORZ JROG EXWWHUIO\ PRXQWLQJ PHDVXULQJ DSSUR[LPDWHO\ [ PP FRPSOHWHG E\ D SLQ VWHP DQG WURPERQH FDWFK $FFRPSDQLHG E\ D 0DVRQ .D\ 5HSRUW GDWHG -XQH VWDWLQJ 1DWXUDO MDGHLWH MDGH QR G\H RU SRO\PHU GHWHFWHG $ MDGH ^*URVV :HLJKW GZWV`

&ROOHFWLRQ RI 8QPRXQWHG 6WRQHV

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

,QFOXGLQJ RQH XQPRXQWHG RYDO FXW VDSSKLUH ZHLJKLQJ DSSUR[LPDWHO\ FW RQH RYDO VWDU VDSSKLUH ZHLJKLQJ DSSUR[LPDWHO\ FWV RQH XQPRXQWHG HPHUDOG FXW WRSD] ZHLJKLQJ DSSUR[LPDWHO\ FW WRJHWKHU ZLWK RQH XQPRXQWHG HPHUDOG FXW WRSD] ZHLJKLQJ DSSUR[LPDWHO\ FW

3DJH

$ $XJXVW (VWDWH $XFWLRQ

/DGLHV &KRSDUG 6W 0RULW] N <HOORZ *ROG 6WHHO :ULVWZDWFK

(VWLPDWH

',$/ 5RXQG ZKLWH DSSOLHG JROG EDWRQ DQG EODFN 5RPDQ QXPHUDO KRXU PDUNHUV LQQHU EODFN PLQXWHV WUDFN &KRSDUG *HQHYH 029(0(17 4XDUW] &$6( 6WDLQOHVV VWHHO EDUUHO VKDSHG N \HOORZ JROG VFUHZ JROG EH]HO IRXU VFUHZ EDFN 60 %5$&(/(7 6WDLQOHVV DUWLFXODWHG IODW OLQN N \HOORZ JROG PLGGOH VWULSH GRXEOH GHSOR\ RXW FODVS IRUPLQJ D LQFK EUDFHOHW

/DGLHV 'LDPRQG 3ODWLQXP :ULVWZDWFK

(VWLPDWH

/DGLHV 2PHJD N <HOORZ *ROG :ULVWZDWFK

(VWLPDWH

',$/ 5RXQG VLOYHUHG DSSOLHG JROG EDWRQ KRXU PDUNHUV EODFN EDWRQ KDQGV 2PHJD 029(0(17 6HYHQWHHQ MHZHOV 2PHJD :DWFK &R &$6( N \HOORZ JROG URXQG VQDSEDFN 2PHJD %5$&(/(7 N \HOORZ JROG LQWHJUDO PHVK OLQN LQFK EUDFHOHW ^*URVV :HLJKW GZWV`

&ROOHFWLRQ RI 7ZR N <HOORZ *ROG 3RFNHW :DWFKHV

,QFOXGLQJ RQH WZHQW\ RQH MHZHOHG N \HOORZ JROG RSHQ IDFH $JDVVL] SRFNHW ZDWFK PP WRJHWKHU ZLWK RQH WZHQW\ RQH MHZHOHG N \HOORZ JROG VZLYHO RXW RSHQ IDFH = - 3HTXLFQRW $JDVVL] SRFNHW ZDWFK PP

(VWLPDWH

&ROOHFWLRQ RI 7KUHH *ROG )LOOHG +DPLOWRQ 3RFNHW :DWFKHV

/DGLHV 'LDPRQG N <HOORZ *ROG :ULVWZDWFK

(VWLPDWH

',$/ 1DYHWWH VKDSHG JROG WRQH DSSOLHG EDWRQ KRXU KDQGV JROG WRQH GDXSKLQH KDQGV 1LFROHW 4XDUW] 029(0(17 4XDUW] VL[ MHZHOV &$6( N \HOORZ JROG VQDSEDFN RYDO DFFHQWHG E\ HLJKWHHQ URXQG FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ V\QWKHWLF VDSSKLUH FURZQ %5$&(/(7 N \HOORZ JROG WZLVWHG EDUUHO OLQN LQFKHV *URVV :HLJKW GZWV`

(VWLPDWH

(VWLPDWH

,QFOXGLQJ RQH WZHQW\ WKUHH MHZHOHG HQJUDYHG IORUDO ERUGHU DQG GLDO RSHQ IDFH JROG ILOOHG +DPLOWRQ SRFNHW ZDWFK PP RQH WZHQW\ RQH MHZHOV HQJUDYHG IORUDO JHRPHWULF VKDSHG RSHQ IDFH JROG ILOOHG +DPLOWRQ SRFNHW ZDWFK PP WRJHWKHU ZLWK RQH WZHQW\ RQH MHZHOHG RSHQ IDFH JROG ILOOHG +DPLOWRQ SRFNHW ZDWFK PP

&ROOHFWLRQ RI 7HQ *ROG )LOOHG 3RFNHW :DWFKHV

/DGLHV %DXPH 0HUFLHU N <HOORZ *ROG :ULVWZDWFK

',$/ 5RXQG ZKLWH DSSOLHG JROG 5RPDQ QXPHUDO KRXU PDUNHUV JROG EDWRQ KDQGV %DXPH 0HUFLHU 029(0(17 4XDUW] VL[ MHZHOV &$6( N \HOORZ JROG URXQG VQDSEDFN PP %DXPH 0HUFLHU P[ /95 %5$&(/(7 %ULFN OLQN N \HOORZ JROG LQFK EUDFHOHW % 0 $FFRPSDQLHG E\ RULJLQDO ER[ ^*URVV :HLJKW GZWV`

',$/ 6TXDUH 6LOYHUHG EODFN $UDELF QXPHUDO KRXU PDUNHUV EODFN RXWHU PLQXWHV WUDFN EOXHG GLDPRQG KDQGV +DPLOWRQ 029(0(17 6HYHQ MHZHOV ) +DPLOWRQ $ &$6( 6TXDUH VQDSEDFN SODWLQXP DFFHQWHG E\ WKLUW\ IRXU IXOO FXW DQG VL[ PDUTXLVH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ %5$&(/(7 3ODWLQXP OLQNHG DFFHQWHG E\ ILIW\ IRXU VLQJOH FXW GLDPRQGV ZHLJKLQJ D WRWDO RI DSSUR[LPDWHO\ FWWZ $FFRPSDQLHG E\ DQ RULJLQDO ER[

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

,QFOXGLQJ RQH 9DFKHURQ &RQWDQWLQH RSHQ IDFH JROG ILOOHG SRFNHW ZDWFK WZR (OJLQ UDLO URDG JROG ILOOHG RSHQ IDFH SRFNHW ZDWFKHV WZR :DOWKDP UDLO URDG JROG ILOOHG RSHQ IDFH SRFNHW ZDWFKHV WZR +DPLOWRQ JROG ILOOHG RSHQ IDFH SRFNHW ZDWFKHV RQH RSHQ IDFH JROG ILOOHG SRFNHW ZDWFK RQH 5RFNIRUG JROG ILOOHG RSHQ IDFH SRFNHW ZDWFK RQH +DPSGHQ JROG ILOOHG RSHQ IDFH SRFNHW ZDWFK WRJHWKHU ZLWK RQH (OJLQ JROG ILOOHG RSHQ IDFH SRFNHW ZDWFK

3DJH

$ $XJXVW (VWDWH $XFWLRQ

9DFKHURQ &RQVWDQWLQ N <HOORZ *ROG 3RFNHW :DWFK

(VWLPDWH

',$/ 5RXQG VLOYHUHG EODFN VW\OL]HG $UDELF QXPHUDO KRXU PDUNHUV RXWHU EODFN PLQXWHV WUDFN EOXHG EUHJXHW KDQGV VXQNHQ VXEVLGLDU\ VHFRQGV GLDO DW R FORFN 9DFKHURQ &RQVWDQWLQH *HQHYH 6XLVVH 029(0(17 7ZHQW\ RQH MHZHOV HLJKW DGMXVWPHQWV 6SDXOGLQJ &R &$6( N \HOORZ JROG RSHQ IDFH FXYHWWH (( 5 PP

6SDXOGLQJ &R N <HOORZ *ROG 3RFNHW :DWFK

(VWLPDWH

N <HOORZ *ROG 3RFNHW :DWFK

(VWLPDWH

',$/ 5RXQG PDWWH WH[WXUHG EODFN VW\OL]HG $UDELF QXPHUDO KRXU PDUNHUV EODFN RXWHU PLQXWHV WUDFN EOXHG EUHJXHW KDQGV VXQNHQ VXEVLGLDU\ VHFRQGV GLDO DW R FORFN &' 3HDFRFN 029(0(17 1LQHWHHQ MHZHOV ,OOLQRLV :DWFK &R 6SULQJILHOG &$6( N \HOORZ JROG RSHQ IDFH FXYHWWH PP

/RW RI 8 6 6LOYHU 5RRVHYHOW 'LPHV SUH 7RWDO ZHLJKW RI OEV 8QUHVHDUFKHG

(VWLPDWH

/RW RI 8 6 6LOYHU 'LPHV 0HUFXU\ DQG 5RRVHYHOW SUH 7RWDO ZHLJKW OEV 8QUHVHDUFKHG

/RQJLQHV N <HOORZ *ROG 3RFNHW :DWFK

(VWLPDWH

',$/ 6LOYHUHG YHUWLFDOO\ WH[WXUHG URXQG DSSOLHG VW\OL]HG JROG WRQH $UDELF QXPHUDO KRXU PDUNHUV RXWHU GRW PLQXWHV WUDFN JROG WRQH GLDPRQG KDQGV VXQNHQ VXEVLGLDU\ VHFRQGV GLDO DW R FORFN /RQJLQHV 029(0(17 7ZHQW\ RQH MHZHOV DGMXVWHG WR ILYH SRVLWLRQV /RQJLQHV &$6( N \HOORZ JROG RSHQ IDFH FXYHWWH PP

(VWLPDWH

7ZR )LQH 6LOYHU %DUV R] HDFK E\ (QJHOKDUG

N <HOORZ *ROG +DPLOWRQ 3RFNHW :DWFK

(VWLPDWH

',$/ 5RXQG ZKLWH EODFN VW\OL]HG $UDELF QXPHUDO KRXU PDUNHUV EODFN RXWHU PLQXWHV WUDFN EOXHG GLDPRQG KDQGV VXQNHQ VXEVLGLDU\ VHFRQGV GLDO DW R FORFN +DPLOWRQ 029(0(17 7ZHQW\ WKUHH MHZHOV DGMXVWHG WR ILYH SRVLWLRQV +DPLOWRQ /DQFDVWHU 3$ &$6( N \HOORZ JROG RSHQ IDFH VZLYHO RXW +DPLOWRQ PP

',$/ 5RXQG ZKLWH EODFN $UDELF QXPHUDO KRXU PDUNHUV EODFN DQG UHG $UDELF QXPHUDO PLQXWHV WUDFN JROG WRQH /RXLV 9; KDQGV VXQNHQ VXEVLGLDU\ VHFRQGV GLDO DW R FORFN 6SDXOGLQJ &R 029(0(17 -HZHOHG DGMXVWHG 3DWHN 3KLOLSSH 1R *HQHYH 6XLVVH 6SDXOGLQJ &R &$6( N \HOORZ JROG FXYHWWH 6SDXOGLQJ &R PP

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

/RW RI 8 6 &RLQV LQFOXGLQJ 4XDUWHUV

(VWLPDWH

/LEHUW\ +HDG SUH 'LPHV /LEHUW\ 6HDWHG /LEHUW\ +HDG

0HUFXU\ +HDG 5RRVHYHOW SUH

LQ FRLQ IROGHU +DOI 'LPH

1LFNHOV /LEHUW\ +HDG

%XIIDOR &HQWV ,QGLDQ +HDG

/LQFROQ +HDG $OO FRLQV 8QUHVHDUFKHG

&ROOHFWLRQ RI :RUOGZLGH &RLQV

(VWLPDWH

&ROOHFWLRQ RI &KLQHVH 6WDPSV

86 *ROG &RLQ

(VWLPDWH

(VWLPDWH

&KLOH 3HVRV *ROG &RLQ

*UHDW %ULWDLQ 6RYHUHLJQ *ROG &RLQ

(VWLPDWH

(VWLPDWH

&KLOH 3HVRV *ROG &RLQ

*UHDW %ULWDLQ +DOI 6RYHUHLJQ *ROG &RLQ PRXQWHG DV D QHFNODFH

(VWLPDWH

,QFOXGLQJ 8 6 0RUJDQ 'ROODUV DQG 3HDFH 'ROODU 6LOYHU (DJOH 'ROODU )UDQFH DQG 3DQDPD $XVWUDOLD 3HUX DQG &DQDGD DQG 6SDQLVK &RORQLDO &KLQHVH

(VWLPDWH

6SDLQ 3HVHWDV *ROG &RLQ

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

3HUX /LEUD

(VWLPDWH

7ZR +DUGZRRG 6TXDUH 6WRROV 7KH OHJV VHSDUDWHG E\ KXPSEDFN VWUHWFKHUV ^/DUJHU [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >$EUDVLRQV VKULQNDJH DJH FUDFNV@

(VWLPDWH

$Q 2UQDWHO\ &DUYHG 6RIWZRRG &DQRS\ %HG

(VWLPDWH

+HDYLO\ GHFRUDWHG LQ UHOLHI ZLWK YDULRXV ILJXUDO VFHQHV ODQGVFDSHV IORZHUV ELUGV DQG P\WKLFDO EHDVWV DOO HQFORVHG ZLWKLQ VKDSHG UHVHUYHV ZLWK D FDQQHG FRYHUHG PDWWUHVV SODWIRUP ^ [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >/RVVHV FKLSV FUDFNV VWDLQLQJ EXUQV VPDOO PLVVLQJ SLHFHV VKULQNDJH PRVWO\ OLNHO\ VPDOO UHSDLUV@

$ )RXU 3DQHO 6RDSVWRQH (PEHOOLVKHG )ROGLQJ 6FUHHQ

(VWLPDWH

'HSLFWLQJ ZRPHQ FKLOGUHQ DQG DQLPDOV ZLWKLQ D OXVK JDUGHQ VHWWLQJ UHYHUVHG E\ JLOW SDLQWLQJV RI YDULRXV IORZHUV DQG ELUGV ^2YHUDOO [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >&UDFNV ORVVHV FKLSV UHSDLUV DEUDVLRQV@

$ 7ZHOYH 3DQHO &RURPDQGHO )ROGLQJ 6FUHHQ

$ 5HG /DFTXHUHG &DELQHW

3DLQWHG WR HDFK GRRU ZLWK SDQHOV GHSLFWLQJ ILJXUHV ZLWKLQ OXVK JDUGHQ VHWWLQJV ^ [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >&UDFNV ORVVHV DEUDVLRQV RYHUDOO ZHDU@

(VWLPDWH

(VWLPDWH

$ %ODFN /DFTXHUHG &DELQHW

3DLQWHG WR HDFK GRRU ZLWK DQWLTXHV DQG IORZHUV DERYH ODUJH VKRX

FKDUDFWHUV ZLWK D SLQ ^ [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >&UDFNV UHSDLUV WR VPDOO ORVVHV FKLSV RYHUDOO ZHDU@

7KH PDVVLYH SDQHOV ILQHO\ GHFRUDWHG DJDLQVW D EODFN JURXQG ZLWK VHYHUDO EHDXWLHV LQ D PHDQGHULQJ SDODFH FRPSRXQG DOO EHORZ FHOHVWLDO EHLQJV IORDWLQJ XSRQ UROOLQJ FORXGV IXUWKHU ERUGHUHG E\ IDQ IRUP UHVHUYHV IORZHUV DQG DQWLTXHV WKH UHYHUVH GHSLFWLQJ D OXVK ODQGVFDSH VFHQH ZLWK YDULRXV ELUGV LQFOXGLQJ SKHDVDQWV EHQHDWK D ODUJH SLQH WUHH ^2YHUDOO [ [ LQFKHV [ [ FP

DSSUR[LPDWHO\` >6PDOO FKLSV DQG ORVVHV GHQWV WR PHWDO SODWHG IHHW DEUDVLRQV RYHUDOO ZHDU@

$ &DUYHG &DPSKRU &KHVW

^ [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >6WDLQV VPDOO ORVVHV DQG FUDFNV@

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ -LFKLPX +RUVHVKRH %DFN )ROGLQJ $UPFKDLU

$Q (PEURLGHUHG 3LQN *URXQG +DQJLQJ 3DQHO

7KH RSHQZRUN EDFN VSODW FDUYHG ZLWK D TLOLQ DPLGVW VZLUOLQJ FORXGV ILWWHG ZLWK D ZRYHQ VHDW ^ [ [ LQFKHV [ [ FP DSSUR[LPDWHO\` >5HSDLUV FUDFNV FKLSV@

(VWLPDWH

'HFRUDWHG ZLWK SKRHQL[HV IORZHUV DQG EXWWHUIOLHV ZLWK PLUURU HPEHOOLVKPHQWV DQG D WDVVHOHG ERWWRP HGJH ^ [ LQFKHV [ FP ` >)DGLQJ VWDLQLQJ ORRVH WKUHDGV VPDOO VHSDUDWLRQV@

(VWLPDWH

$Q (PEURLGHUHG 6LON )LJXUDO 3DQHO

(VWLPDWH

7KH SDOH FHODGRQ JURXQG GHFRUDWHG LQ FRORUIXO DQG JLOW ZUDSSHG WKUHDGV ZLWK ILJXUHV GUDJRQV DQG IORZHUV D IULQJH WR WKUHH VLGHV ^ [ LQFKHV [ FP DSSUR[LPDWHO\` >/RRVH WKUHDGV VPDOO ORVVHV VWDLQLQJ@

$ *URXS RI 6PDOO &KLQHVH (PEURLGHUHG 7H[WLOHV

,QFOXGLQJ YDULRXV SXUVHV DQG SRXFKHV D IDQ FDVH DQG VHYHUDO DVVRUWHG IUDJPHQWV PRXQWHG DV SDQHOV ^/DUJHVW [ LQFKHV [ FP ` >/RVVHV IUD\LQJ IDGLQJ VWDLQLQJ@

(VWLPDWH

$Q (PEURLGHUHG &RUDO 5HG *URXQG 6NLUW

$ :RYHQ 6LON 'UDJRQ 3DQHO

(VWLPDWH

3LHFHG WRJHWKHU LQ VHFWLRQV GLVSOD\LQJ D SDWWHUQ RI VLQXRXV GUDJRQV DJDLQVW D GDUN EOXH JURXQG ZLWK WKUHH FUHDP FRORUHG IORUDO SDWFKHV ^ [ LQFKHV [ FP ` >/RVVHV KROHV IUD\LQJ VHSDUDWLRQV GLVFRORUDWLRQ VWDLQLQJ@

(PEURLGHUHG LQ FKDLQ VWLWFK ZLWK VPDOO EXWWHUIOLHV JRXUGV IORZHUV WZLQ ILVK DQG GHHU WR WKH EODFN ERUGHUV DQG QHDU WKH KHP IXUWKHU ERUGHUHG E\ ZRYHQ ULEERQV ^/HQJWK LQFKHV FP ` >6WDLQLQJ ORVVHV VHSDUDWLRQV@

(VWLPDWH

7ZR &KLQHVH (PEURLGHULHV

$ /DUJH .HVL :RYHQ %XGGKLVW +DQJLQJ 3DQHO

(VWLPDWH

WK &HQWXU\ :LWK IXUWKHU SDLQWHG GHWDLOV GHSLFWLQJ D WKUHH KHDGHG %XGGKLVW ILJXUH ZLWK HLJKW DUPV WKH WRS SDLU HDFK KROGLQJ D IODPLQJ SHDUO WKH QH[W SDLU ZLWK D EDQQHU DQG ERRN WKH IROORZLQJ ZLWK D ERZ DQG DUURZ DQG WKH ODVW LQ QDPDVNDUD PXWUD DOO VHDWHG DWRS D GRXEOH ORWXV SHGHVWDO DERYH RQH ZKLWH SLJ DQG VL[ EODFN SLJV HPHUJLQJ IURP FORXG VFUROOV ^ [ LQFKHV [ FP DSSUR[LPDWHO\` >0LQRU GLVFRORUDWLRQ DQG VWDLQLQJ@

,QFOXGLQJ D UDQN EDGJH DQG D FLUFXODU PHGDOOLRQ ERWK GHSLFWLQJ FUDQHV ^'LDPHWHU LQFKHV FP

RI PHGDOOLRQ` >'LVFRORUDWLRQ VRPH ORRVH WKUHDGV PLQRU IUD\LQJ WR WKH HGJHV@

(VWLPDWH

$Q (PEURLGHUHG 6LON /DG\ V 5REH

7KH EODFN JURXQG ILQLVKHG ZLWK FUHDP JURXQG ERUGHUV HPEURLGHUHG ZLWK ILJXUHV ELUGV DQG ODQGVFDSHV ^/HQJWK LQFKHV FP ` >6WDLQLQJ VHSDUDWLRQV ORRVH WKUHDGV VPDOO ORVVHV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$Q (PEURLGHUHG %ODFN *URXQG 5REH

$IWHU /L +RQJ]KDQJ

$ &DOOLJUDSKLF &RXSOHW

'HFRUDWHG ZLWK ODUJH IORUDO VSULJV LQ RUDQJH DQG SDOH EOXH WKUHDGV DFFRPSDQLHG E\ D EOXH JURXQG KHDGGUHVV ^/HQJWK LQFKHV FP ` >([WHQVLYH ORVVHV WHDUV VHSDUDWLRQV VWDLQLQJ IUD\LQJ@

(VWLPDWH

+DQJLQJ VFUROOV LQN RQ SDSHU GDWHG VLJQHG ¶/L +RQJ]KDQJ· ZLWK WZR VHDOV ^ [ LQFKHV [ FP HDFK` >)ROGLQJ SDLQW ORVVHV DQG FUHDVHV@

(VWLPDWH

7KUHH &KLQHVH (PEURLGHUHG *DUPHQWV

$IWHU <X <RXUHQ

&DOOLJUDSK\

,QFOXGLQJ D \HOORZ JURXQG VNLUW D SXUSOH JURXQG MDFNHW DQG D GUDJRQ

FROODU ^/HQJWK LQFKHV FP RI VNLUW` >([WHQVLYH ORVVHV IUD\LQJ IDGLQJ VWDLQLQJ KROHV WHDUV@

(VWLPDWH

+DQJLQJ VFUROO LQN RQ SDSHU VLJQHG

<X <RXUHQ ZLWK WZR VHDOV ^ [ LQFKHV [ FP ` >&UHDVLQJ@

(VWLPDWH

$IWHU 6KHQ =KRX

5RRVWHU

$IWHU 3X 5X

/DQGVFDSH

,QN DQG FRORU RQ SDSHU PRXQWHG GDWHG +RQJ]KL

VLJQHG 6KHQ =KRX ZLWK RQH VHDO ^ [ LQFKHV [ FP ` >)ROGLQJ PLQRU VWDLQV@

(VWLPDWH

+DQJLQJ VFUROO LQN DQG FRORU RQ VLON LQVFULEHG WR WKH XSSHU ULJKW VLJQHG

3X 5X ZLWK D VHDO ^ [ LQFKHV [ FP ` >0LQRU VWDLQV@

(VWLPDWH

0DQQHU RI )X %DRVKL

/DQGVFDSH

,Q WKH 6W\OH RI 3X 5X

%XGGLVW 0RQNV

,QN DQG FRORU RQ SDSHU GDWHG XSSHU ULJKW LQVFULEHG DQG VLJQHG )X %DRVKL ZLWK RQH VHDO IUDPHG DQG JOD]HG ^ [ LQFKHV [ FP ` >0LQRU IROGLQJV DQG VWDLQV 1RW H[DPLQHG RXW RI WKH IUDPH@

(VWLPDWH

+DQJLQJ VFUROO LQN DQG FRORU RQ SDSHU LQVFULEHG DQG VLJQHG 3X 5X

LQ WKH ORZHU OHIW FRUQHU RQH VHDO ^ [ LQFKHV [ FP `

(VWLPDWH

9DULRXV $UWLVWV 2QH +XQGUHG &UDQHV

/LDQJ %DL\X

/DQGVFDSH

+DQG VFUROO LQN DQG FRORU RQ SDSHU LQVFULEHG DQG GDWHG EHDULQJ VLJQDWXUHV ¶/X 5XQ[LDQJ·

¶+RQJ -XQ· DQG ¶&KHQTXDQ· PXOWLSOH VHDOV ^ [ LQFKHV [ FP `

(VWLPDWH

+DQJLQJ VFUROO LQN DQG FRORU RQ SDSHU XSSHU ULJKW GDWHG LQVFULEHG DQG VLJQHG /LDQJ %DL\X

WZR VHDOV ^ [ LQFKHV [ FP ` >)ROGLQJV DQG VWDLQV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&KHQ =LKH $ &DOOLJUDSK\ &RXSOHW

$ 7LEHWDQ 3DLQWHG 7KDQJND

'HSLFWLQJ D VHDWHG /DPD LQ WKH FHQWHU VXUURXQGHG E\ QXPHURXV %XGGKLVW ILJXUHV DQG GHLWLHV ^ [ LQFKHV [ FP

DSSUR[LPDWHO\` >0LQRU ZHDU WR WKH SLJPHQWV FUHDVLQJ@

+DQJLQJ VFUROOV LQN RQ SDSHU VLJQHG

&KHQ =LKH ZLWK WZR VHDOV ^ [ LQFKHV [ FP HDFK` >6WDLQLQJ@

(VWLPDWH

(VWLPDWH

)LJXUHV 8QGHU :LQWHU 3UXQXV

$ -DGHLWH 6QXII %RWWOH

+DQJLQJ VFUROO LQN DQG FRORU RQ SDSHU XSSHU OHIW GDWHG WK &HQWXU\ DQG LQVFULEHG VLJQHG :DQJ ;LDRVX

ZLWK WKUHH VHDOV ^ [ LQFKHV [ FP ` >0LQRU VWDLQV DQG IROGLQJV RQH KROH PLVVLQJ VFUROO HQGV@

(VWLPDWH

2I FLUFXODU IRUP ZLWK DQ LQVFULSWLRQ WR RQH VLGH WKH H[WHULRU HGJH PRXQWHG ZLWK DQ HQDPHOHG JLOW PHWDO EDQG FRQWLQXLQJ WR WKH PDWFKLQJ VWRSSHU ^+HLJKW LQFKHV FP ` >1LFNV VPDOO GHQWV DQG DEUDVLRQV WR WKH PHWDO D QDWXUDO ILVVXUH OLQH WR WKH LQVFULEHG VLGH@

(VWLPDWH

$WWULEXWHG WR <X <RXUHQ

6L[ &DOOLJUDSK\

$ 6PDOO 6SLQDFK *UHHQ -DGH 9DVH

+DQJLQJ VFUROO LQN RQ SDSHU VLJQHG

<X <RXUHQ ZLWK RQH VHDO ^ [ LQFKHV [ FP HDFK`

(VWLPDWH

(VWLPDWH

$ 3DLQWHG %XGGKLVW 6FULSWXUH 6LON +DQJLQJ

$ 0RWWOHG +DUGVWRQH 6TXDUH )RUP &RQWDLQHU

:LWK 7LEHWDQ LQVFULSWLRQ DQG %XGGKLVW GUDJRQV DQG OLRQV ^ [ LQFKHV [ FP `

(VWLPDWH

7KH RSDTXH VWRQH FDUYHG WR WKH H[WHULRU ZLWK FRQIURQWLQJ DQG HQWZLQLQJ FKLORQJ GUDJRQV D ODUJH VHDO PDUN FDUYHG WR WKH EDVH ^:LGWK LQFKHV FP ` >6RLOLQJ RYHUDOO ZHDU ZLWK VPDOO QLFNV@

(VWLPDWH

$ 7LEHWDQ 3DLQWHG 7KDQJND

$ &DUYHG 0DODFKLWH /LGGHG 9DVH

'HSLFWLQJ D VHDWHG %RGKLVDWWYD VXUURXQGHG E\ YDULRXV %XGGKLVW ILJXUHV DQG GHLWLHV ^ [ LQFKHV [ FP ` >0LQRU ZHDU WR WKH SLJPHQWV FUHDVLQJ@

(VWLPDWH

2I VOHQGHU EDOXVWHU IRUP IODQNHG E\ FXUYLQJ KDQGOHV FDUYHG ZLWK D EDQG RI DUFKDLVWLF GHVLJQV HQFLUFOLQJ WKH ERG\ ZLWK D PDWFKLQJ ZRRG VWDQG LQ SLHFHV DQG D ILWWHG ZRRG ER[ ^+HLJKW LQFKHV FP ` >6PDOO QLFNV WR WKH YDVH ORVVHV DQG GDPDJH WR WKH ZRRG VWDQG@

+HDYLO\ GHFRUDWHG ZLWK VHYHUDO GUDJRQV WR ERWK WKH YDVH DQG WKH OLG DWWDFKHG WR D ZRRG VWDQG ^+HLJKW LQFKHV FP

LQFOXGLQJ VWDQG` >/RVVHV FUDFNV UHVWRUDWLRQV VRLOLQJ@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ /DSLV /D]XOL 0RGHO RI %XGGKD

$ +DUGVWRQH 0RGHO RI D :DWHU %XIIDOR

'HSLFWHG VHDWHG LQ GK\DQDVDQD ZLWK KLV KDQGV LQ GK\DQD ZKLOH KROGLQJ D ERZO ZLWK D ILWWHG ZRRG GRXEOH ORWXV EDVH ^+HLJKW LQFKHV FP

H[FOXGLQJ EDVH` >6PDOO FKLSV@

(VWLPDWH

&DUYHG LQ WKH UHFXPEHQW SRVLWLRQ ZLWK D ILWWHG ZRRG VWDQG ^/HQJWK LQFKHV FP `

(VWLPDWH

$ 0XJKDO 6W\OH $JDWH 6WHP &XS

$ *URXS RI (OHYHQ 6WRQH &DUYLQJV

7KH H[WHULRU HQFLUFOHG E\ YHUWLFDO ULEV ZLWK D SDLU RI IORULIRUP KDQGOHV WDQJOLQJ ORRVH ULQJV UDLVHG RQ D IODULQJ IRRW ^:LGWK LQFKHV FP ` >&KLSV@

(VWLPDWH

,QFOXGLQJ WKUHH IX GRJV D SDLU RI VWDQGLQJ ILJXUHV D SDLU RI HOHSKDQWV D FHOHVWLDO PDLGHQ D URFN\ ODQGVFDSH DQG WZR FDUYHG VHDOV ^7DOOHVW LQFKHV FP ` >/RVVHV DEUDVLRQV UHSDLUV FUDFNV@

(VWLPDWH

7KUHH 6RDSVWRQH &DUYLQJV

7ZR %OXH DQG :KLWH 6QXII %RWWOHV

(DFK GHFRUDWHG ZLWK ELUGV DQG IORZHUV ^7DOOHVW LQFKHV FP ` >&KLSV VPDOO ORVVHV DEUDVLRQV@

(VWLPDWH

(DFK GHFRUDWHG ZLWK FRQWLQXRXV ILJXUDO ODQGVFDSHV DQG D VL[ FKDUDFWHU PDUN WR HDFK EDVH ^+HLJKW LQFKHV FP ` >'DPDJHG VWRSSHUV FKLSV WR IRRW ULP@

(VWLPDWH

$ 6RDSVWRQH &DUYLQJ RI D )LJXUDO /DQGVFDSH

(VWLPDWH

WK &HQWXU\ 'HSLFWLQJ ILJXUHV DQG JRDWV XSRQ JDUGHQ URFNV EHQHDWK D SLQH WUHH DQG EDPERR LQVFULEHG DQG VLJQHG

/LQ <RXOLDQJ ZLWK D ILWWHG ZRRG VWDQG ^+HLJKW LQFKHV FP

LQFOXGLQJ VWDQG` >/RVVHV DEUDVLRQV RYHUDOO ZHDU VRLOLQJ@

)LYH $JDWH 6QXII %RWWOHV

$FFRPSDQLHG E\ VL[ DVVRFLDWHG VWRSSHUV DQG D ORRVH VSRRQ ^7DOOHVW LQFKHV FP ` >6PDOO FKLSV QLFNV DEUDVLRQV@

(VWLPDWH

7ZR 6QXII %RWWOHV

&RPSULVLQJ D UHG JODVV ERWWOH DQG D VLOYHU KLQJHG GRXEOH ERWWOH ^7DOOHU LQFKHV FP ` >/DFNLQJ VWRSSHU VPDOO FKLSV GHQWV WDUQLVK@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ 6LOYHU ,QJRW

$ *URXS RI 6L[ %URQ]H 2EMHFWV

4LQJ '\QDVW\ 2I ERDW VKDSH WKH VLGHV ZDLVWHG LQ WKH FHQWHU DQG IODULQJ XSZDUGV WR DQ DUFK DW HLWKHU HQG WKH WRS RI WKH LQWHULRU ZLWK WZR VWDPSV ^/HQJWK LQFKHV FP :HLJKW RXQFHV J ` >6OLJKW WDUQLVK GHQWV@

(VWLPDWH

(VWLPDWH

7KUHH /DRWLDQ 6LOYHU 2EMHFWV

$ 6RXWKHDVW $VLDQ %URQ]H 5DLQ 'UXP

,QFOXGLQJ D F\OLQGULFDO FRYHUHG FRQWDLQHU D KLQJHG ER[ DQG DQ RUQDWH VFUROO IRUP FRQWDLQHU ^7DOOHVW LQFKHV FP

DSSUR[LPDWHO\` >'HQWV ORVVHV GDPDJHG KLQJH WDUQLVK RYHUDOO ZHDU@

(VWLPDWH

&DVW ZLWK D UDLVHG OLQHDU GHFRUDWLRQ FHQWHUHG E\ D VWDU PRWLI ZLWK IRXU ILQLDOV ^ [ [ LQFKHV [ FP ` >2YHUDOO ZHDU GHQWV FRUURVLRQ ORVVHV QHDU WKH IRRW@

(VWLPDWH

7KUHH /DRWLDQ 6LOYHU :KLSV ZLWK 'DJJHUV

(VWLPDWH

,QFOXGLQJ D EHOO ZLWK ZRRG VWDQG D FLUFXODU PLUURU D VPDOO SRPHJUDQDWH IRUP FRQWDLQHU D ILJXUH ULGLQJ D WKUHH OHJJHG WRDG D %XGDL ILJXUH DQG D 6RXWKHDVW $VLDQ %XGGKD KHDG ^7DOOHVW LQFKHV FP

H[FOXGLQJ VWDQG` >5HSDLUV WR EHOO GHQWV ORVVHV FRUURVLRQ RYHUDOO ZHDU@

$ %UDVV &HQVHU ZLWK &DUYHG +DUGZRRG /LG DQG 6WDQG

(DFK ZLWK D GDJJHU IRUP VLOYHU KDQGOH GHFRUDWHG ZLWK YDULRXV IORZHUV DQG EDQGV FRQWDLQLQJ PHDQGHUV ^/RQJHVW LQFKHV FP

DSSUR[LPDWHO\` >2YHUDOO ZHDU VPDOO ORVVHV WDUQLVK VRLOLQJ@

+HDYLO\ GHFRUDWHG ZLWK ILJXUHV DQWLTXHV DQG DQLPDOV WKH OLG ZLWK D TLOLQ IRUP ILQLDO ^+HLJKW LQFKHV FP LQFOXGLQJ VWDQG` >&KLSV DEUDVLRQV VPDOO GHQWV@

(VWLPDWH

$ &KLQHVH ([SRUW 6LOYHU &LJDUHWWH &DVH

$Q ,QGRQHVLDQ 'DJJHU .ULV

:LWK D SDLQWHG ZRRG VFDEEDUG ^/HQJWK LQFKHV FP

RYHUDOO` >&RUURVLRQ RYHUDOO ZHDU WKH VFDEEDUG ZLWK DEUDVLRQV FKLSV DQG VPDOO FUDFNV@

'HFRUDWHG ZLWK GUDJRQV WR ERWK VLGHV RQH ZLWK D SDLU RI JUHHQ LQODLG H\HV ^:LGWK LQFKHV FP ` >$EUDVLRQV WDUQLVK VPDOO GHQWV VWDLQV@

(VWLPDWH

(VWLPDWH

$ &DVW ,URQ /XRKDQ %XVW

6W\OLVWLFDOO\ GHSLFWLQJ WKH KHDG RI RQH RI %XGGKD V GLVFLSOHV ZLWK D VHUHQH IDFH ZLWK ILWWHG VWDQG ^+HLJKW LQFKHV FP

H[FOXGLQJ VWDQG` >6HSDUDWHG IURP WKH ERG\ ORVVHV KHDY\ R[LGDWLRQ@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ /DUJH *URXS RI ([SRUW 3HZWHU :DUHV

(VWLPDWH

&RPSULVLQJ ILIWHHQ SLHFHV LQFOXGLQJ VHYHUDO FRYHUHG ER[HV DQG FRQWDLQHUV RI YDULRXV IRUPV WKUHH VPDOO GLVKHV D KDQGOHG YDVH DQG D WHD VHW ^7DOOHVW LQFKHV FP

LQFOXGLQJ KDQGOHV DQG VWDQG@ >'HQWV VRLOLQJ DEUDVLRQV VPDOO ORVVHV GDPDJHV@

$ %DPERR 9HQHHUHG 7HD &DGG\

2I KH[DJRQDO IRUP ULVLQJ WR D F\OLQGULFDO FRYHU GHFRUDWHG ZLWK D ILJXUH DQG VHYHUDO LQVFULSWLRQV ^+HLJKW LQFKHV FP ` >$EUDVLRQV VRLOLQJ@

(VWLPDWH

$ %DPERR 6PRNLQJ 3LSH

$ 3DLU RI &ORLVRQQp %LUG )RUP &HQVHUV

$FFRPSDQLHG E\ WZR DFFHVVRULHV LQFOXGLQJ D WREDFFR SRXFK ^/HQJWK LQFKHV FP ` >:HDU FKLSV FUDFNV VRLOLQJ@

:LWK ZRRG VWDQGV ^+HLJKW LQFKHV FP

H[FOXGLQJ VWDQGV` >6PDOO FKLSV SLWWLQJ RYHUDOO ZHDU DEUDVLRQV VRLOLQJ@

(VWLPDWH

(VWLPDWH

$ -DSDQHVH )RXU 3LHFH %ODFN /DFTXHU 6PRNLQJ 6HW

$ %R[ZRRG &DUYLQJ RI D 6DJH

,QFOXGLQJ D WUD\ D UHFWDQJXODU FRYHUHG ER[ D F\OLQGULFDO DVKWUD\ DQG D SLSH UHVW ZLWK ZRRG VWRUDJH ER[ ^/HQJWK LQFKHV FP RI WUD\` >6OLJKW DEUDVLRQV DQG RYHUDOO ZHDU@

:LWK PDWFKLQJ UHWLFXODWHG ZRRG VWDQG ^+HLJKW LQFKHV FP

LQFOXGLQJ VWDQG` >&UDFNV FKLSV@

(VWLPDWH

(VWLPDWH

7ZR 0ROGHG /DFTXHU :DUHV

7ZR 3DLQWHG :RRG %DVNHWV

,QFOXGLQJ D IROLDWHG GLVK DQG D UHFWDQJXODU OLGGHG ER[ ^'LDPHWHU LQFKHV FP RI GLVK` >&UDFNV ORVVHV VRLOLQJ@

^7DOOHU LQFKHV FP

H[FOXGLQJ KDQGOH` >&KLSV FUDFNV RYHUDOO ZHDU@

(VWLPDWH

(VWLPDWH

7KUHH /DRWLDQ %HWHO 1XW $FFHVVRULHV

$ +DUGZRRG %R[ ZLWK 2YHUOD\ (PEHOOLVKPHQWV

2YHUODLG ZLWK VRDSVWRQH DQG PRWKHU RI SHDUO GHFRUDWLRQV GHSLFWLQJ D ILJXUDO ODQGVFDSH WR WKH KLQJHG OLG DQG ZLWK OHDI\ IORZHUV DQG IUXLW WR WKH GUDZHUV EHORZ ^:LGWK LQFKHV FP ` >/RVVHV FUDFNV FKLSV GDPDJHV@

(VWLPDWH

(DFK NQLIH GHFRUDWHG ZLWK VLOYHU VFDEEDUGV DQG KDQGOHV ^/RQJHVW LQFKHV FP

DSSUR[LPDWHO\` >2YHUDOO ZHDU GHQWV WR WKH VLOYHU FRPSRQHQWV PLQRU ORVVHV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ &HODGRQ *OD]HG &\OLQGULFDO &RQWDLQHU

$ &DIH DX /DLW *OD]HG %UXVK 3RW

^+HLJKW LQFKHV FP ` >$EUDVLRQV FKLS WR IRRW ULP VRLOLQJ@

(VWLPDWH

:LWK D PROGHG GHFRUDWLRQ IHDWXULQJ ILJXUHV DQG ZDWHU EXIIDORV ZLWKLQ D ODQGVFDSH VHWWLQJ D PDUN WR WKH EDVH ^+HLJKW LQFKHV FP ` >6PDOO ORVVHV DEUDVLRQV VRLOLQJ@

(VWLPDWH

$ /RQJTXDQ &HODGRQ 'LVK

$ /HDG *OD]HG &HUDPLF /LGGHG 8UQ

0LQJ '\QDVW\ :LWK EDUEHG ULP GHFRUDWHG ZLWK LQFLVHG IORZHU VSUD\V DQG SRPHJUDQDWHV DOO EXW WKH IRRW FRYHUHG LQ D WKLFN FHODGRQ JOD]H ^'LDPHWHU LQFKHV FP `

(VWLPDWH

:LWK D FORWK ZUDSSHG VWDQG DQG D ILWWHG ZRRG ER[ ^+HLJKW LQFKHV FP

H[FOXGLQJ VWDQG` >/RVVHV RYHUDOO ZHDU VRLOLQJ@

(VWLPDWH

7ZR /RQJTXDQ &HODGRQ &HUDPLFV

(VWLPDWH

6RXWKHUQ 6RQJ '\QDVW\ 7KH ILUVW D SHDU VKDSHG YDVH UDLVHG RQ D VKRUW IRRW WKH ERG\ WDSHULQJ WR WKH VOLJKWO\ URXQGHG XSULJKW ULP FRYHUHG DOO RYHU DQG RQ WKH EDVH ZLWK D ILQHO\ FUDFNOHG JOD]H RI SDOH \HOORZLVK JUHHQ WRQH WKH VHFRQG D MDUOHW ZLWK PROGHG GHFRUDWLRQ ^7DOOHVW LQFKHV FP `

$ /DUJH %URZQ *OD]HG :LQH -XJ

:LWK PROGHG GHFRUDWLRQV RI GUDJRQV DQG SKRHQL[HV ORRS KDQGOHV HQFLUFOLQJ WKH QHFN ^+HLJKW LQFKHV FP ` >6RLOLQJ@

(VWLPDWH

$ %OXH DQG :KLWH 7HD &DGG\

$ &UDFNOH *OD]HG &HQVHU

3DLQWHG ZLWK ILJXUHV RQ KRUVHEDFN FDUU\LQJ EDQQHUV D IRXU FKDUDFWHU PDUN WR WKH EDVH ZRRG FRYHU ^+HLJKW LQFKHV FP ` >&KLS WR IRRW ULP@

7KH KHDYLO\ SRWWHG EXOERXV IRUP ULVLQJ WR D UROOHG ULP ^'LDPHWHU LQFKHV FP

DSSUR[LPDWHO\`

(VWLPDWH

(VWLPDWH

$ 3DLU RI %OXH DQG :KLWH %RZOV

$ 6PDOO &UDFNOHZDUH 7ULSRG &HQVHU

4LDQORQJ 0DUN 7KH JH W\SH JOD]HG LQFHQVH LPSOHPHQW ZLWK D SDLU RI EULGJH KDQGOHV WKH EXOERXV ERG\ VXSSRUWHG E\ WKUHH VKRUW IHHW ZLWK D VL[ FKDUDFWHU PDUN WR WKH EDVH ^+HLJKW LQFKHV FP `

(VWLPDWH

3DLQWHG WR WKH H[WHULRU DQG IORRU ZLWK WKUHH VLQXRXV GUDJRQV D VL[ FKDUDFWHU PDUN WR HDFK EDVH ^'LDPHWHU LQFKHV FP ` >6OLJKW ZHDU@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ %OXH DQG :KLWH %RZO

$ 3DLU RI 6PDOO )DPLOOH 5RVH 9DVHV

'HFRUDWHG ZLWK OXVK IORZHUV DQG SUXQXV D IRXU FKDUDFWHU PDUN WR WKH EDVH ^'LDPHWHU LQFKHV FP ` >+DLUOLQH FUDFN DEUDVLRQV ZHDU@

(VWLPDWH

'LVSOD\LQJ VZDOORZV DQG ZLVWHULD UHYHUVHG E\ D FLUFXODU VHDO PDUN WKH EDVH ZLWK D VWDPSHG PDUN ^+HLJKW LQFKHV FP ` >6RLOLQJ RYHUDOO ZHDU@

(VWLPDWH

$ /DUJH %OXH DQG :KLWH &HODGRQ *OD]HG 9DVH

$ 3DLU RI )DPLOOH 5RVH %RZOV

%RWK SDLQWHG WR WKH H[WHULRU ZLWK DXVSLFLRXV HPEOHPV ILJXUHV DQG ORQJHYLW\ FKDUDFWHUV D UHG VHDO PDUN WR HDFK EDVH ^'LDPHWHU LQFKHV FP ` >5HSDLUV WR HDFK ULP KDLUOLQH FUDFNV FKLSV VPDOO ORVVHV WR WKH HQDPHO RYHUDOO ZHDU VOLJKW VRLOLQJ@

'HFRUDWHG ZLWK ILJXUHV EHQHDWK D SLQH WUHH IODQNHG E\ VTXLUUHO IRUP KDQGOHV ^+HLJKW LQFKHV FP ` >&UDFNV WR WKH EDVH DQG ULP FKLS WR KDQGOHV DEUDVLRQV VRLOLQJ@

(VWLPDWH

(VWLPDWH

$ &KLQHVH ([SRUW )DPLOOH 5RVH 3XQFK %RZO

(VWLPDWH

3DLQWHG WR WKH H[WHULRU ZLWK DOWHUQDWLQJ UHVHUYHV GHSLFWLQJ ILJXUDO ODQGVFDSHV DQG ELUGV ZLWK SUXQXV IUDPHG E\ D JLOW SDLQWHG GLDSHU SDWWHUQ DQG IORZHUV WKH LQWHULRU GLVSOD\LQJ IORZHUV DQG IUXLW WR WKH IORRU ^'LDPHWHU LQFKHV FP ` >+DLUOLQH FUDFN FLUFXODU EUXLVH ZLWK VKDOORZ FKLSV WR WKH H[WHULRU RYHUDOO ZHDU WR WKH HQDPHO VRLOLQJ@

7KUHH )DPLOOH 5RVH %RZOV

,QFOXGLQJ D SDLU RI ERZOV ZLWK D IORZHU DQG ELUG PRWLI DQG D \HOORZ JURXQG ERZO HDFK ZLWK D PDUN WR WKH EDVH ^/DUJHVW LQFKHV FP LQ GLDPHWHU` >6PDOO FKLSV QLFNV RYHUDOO ZHDU WR WKH HQDPHO@

(VWLPDWH

7ZR )DPLOOH 5RVH 9DVHV

'HSLFWLQJ HLWKHU EHDXWLHV RU ELUGV ^7DOOHU LQFKHV FP ` >&UD]LQJ DEUDVLRQV@

$ )DPLOOH 5RVH (QDPHOHG 0RRQIODVN

(VWLPDWH

'HSLFWLQJ ELUGV UHVWLQJ XSRQ EORRPLQJ SHRQ\ EUDQFKHV DERYH FKU\VDQWKHPXPV UHYHUVHG E\ DGGLWLRQDO SHRQLHV DQG PDJQROLD WUHHV ERWK VLGHV ZLWK DQ LQVFULSWLRQ D PDUN WR WKH EDVH ^+HLJKW LQFKHV FP ` >6OLJKW ZHDU@

(VWLPDWH

$ 3DLU RI )DPLOOH 5RVH -DUGLQLHUHV

(DFK FLUFXODU IRUP SDLQWHG ZLWK SLQN SUXQXV DQG JDUGHQ URFNV UHYHUVHG E\ LQVFULSWLRQV ^+HLJKW LQFKHV FP ` >5HSDLUV FUDFNV VRLOLQJ VWDLQLQJ RYHUDOO ZHDU GULOOHG KROHV WR HDFK EDVH@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ /DUJH )DPLOOH 5RVH 3DUWLDO 7HD DQG 'LQQHU 6HUYLFH

(VWLPDWH

(DFK GHFRUDWHG ZLWK GUDJRQ DQG SKRHQL[ PHGDOOLRQV DJDLQVW D \HOORZ JURXQG RI VFUROOLQJ JRXUGV D VL[ FKDUDFWHU PDUN WR HDFK EDVH FRPSULVLQJ VHYHUDO GLVKHV DQG SODWHV

RI YDULRXV VL]HV D WHDSRW D FRYHUHG VXJDU D FUHDPHU WZR ERZOV DQG WZR FXSV ^+HLJKW LQFKHV FP RI WHDSRW` >/RVVHV VRLOLQJ FUDFNV FKLSV@

$ /DUJH &L]KRX :DUH -DU

7KH EURZQLVK FUHDP FRORUHG MDU GHFRUDWHG ZLWK VW\OL]HG PDUNLQJV DQG OHDI\ GHVLJQV ^+HLJKW LQFKHV FP ` >/RVVHV FKLSV FUD]LQJ ILULQJ IODZV VRLOLQJ GLVFRORUDWLRQ@

(VWLPDWH

7ZR -XQ :DUH &HUDPLFV

6RQJ '\QDVW\ DQG /DWHU &RPSULVLQJ D VPDOO SXUSOH VSODVKHG WULSRG FHQVHU DQG D VKDOORZ ERZO ZLWK D WKLFN VN\ EOXH JOD]H ^'LDPHWHU LQFKHV FP

RI ERZO` >5HSDLUV WR WKH ERZO@

$Q 2FWDJRQDO )DPLOOH 5RVH 6WHP %RZO

3DLQWHG ZLWK D FRQWLQXRXV ILJXUDO ODQGVFDSH VFHQH D VHDO PDUN WR WKH EDVH ^:LGWK LQFKHV FP ` >:HDU VRLOLQJ DEUDVLRQV@

(VWLPDWH

(VWLPDWH

$ .RUHDQ 3DLQWHG 3RWWHU\ +RUVH

:LWK ZRRG VWRUDJH ER[ ^+HLJKW LQFKHV FP ` >6PDOO FKLSV RYHUDOO ZHDU VRLOLQJ@

$ )DPLOOH 5RVH &KDUJHU

'HFRUDWHG ZLWK WZR SKHDVDQWV DPLGVW EORRPLQJ IORZHUV DQG JDUGHQ URFNV ^'LDPHWHU LQFKHV FP ` >2YHUDOO ZHDU VPDOO ORVVHV DQG DEUDVLRQV WR WKH HQDPHO ILULQJ IULWV@

(VWLPDWH

(VWLPDWH

$ 6PDOO .RUHDQ &HODGRQ %RZO :LWK GHHS URXQGHG ZDOOV FRYHUHG LQ D WKLFN FUDFNOH JOD]H ^+HLJKW LQFKHV FP `

$ 'RXFDL :LQH &XS

3DLQWHG ZLWK EDPERR SLQH DQG SUXQXV D VHDO PDUN WR WKH EDVH ^+HLJKW LQFKHV FP ` >+DLUOLQH FUDFN DEUDVLRQV@

(VWLPDWH

(VWLPDWH

7KUHH 6WRQHZDUH )XQHUDU\ /LGGHG 8UQV

,QFOXGLQJ D SDLU RI XUQV DQG RQH ODUJHU XUQ DOO GHFRUDWHG ZLWK DSSOLHG GUDJRQV ^7DOOHVW LQFKHV FP ` >/RVVHV UHSDLUV FUDFNV VRLOLQJ VWDLQLQJ RYHUDOO ZHDU@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7KUHH &KLQHVH 3RUFHODLQ 9DVHV

$ 3DLU RI -DSDQHVH ,PDUL &KDUJHUV

,QFOXGLQJ RQH WXUTXRLVH JURXQG YDVH RQH PROGHG FHODGRQ JOD]HG YDVH DQG D VPDOO \HOORZ JURXQG

SHDFK YDVH ^7DOOHVW LQFKHV FP ` >&UDFNV VPDOO ORVVHV@

(VWLPDWH

%RWK GHFRUDWHG ZLWK DOWHUQDWLQJ UHVHUYHV FRQWDLQLQJ ODQGVFDSHV DQG FUDQH PHGDOOLRQV HQFLUFOLQJ D EOXH DQG ZKLWH IORUDO GHVLJQ ^'LDPHWHU LQFKHV FP ` >2YHUDOO ZHDU ZLWK VOLJKW DEUDVLRQV@

(VWLPDWH

)RXU &KLQHVH &HUDPLFV

$ /DUJH *URXS RI -DSDQHVH ,PDUL 3ODWHV DQG %RZOV

,QFOXGLQJ WZR ILJXUHV RI *XDQ\LQ D EOXH DQG ZKLWH FLUFXODU FRYHUHG ER[ DQG DQ HQDPHOHG FHODGRQ JOD]HG VDXFHU ^7DOOHVW LQFKHV FP ` >/RVVHV FUDFNV FKLSV VRLOLQJ@

(VWLPDWH

(VWLPDWH

$ /DUJH *URXS RI -DSDQHVH 6DWVXPD 7\SH DQG ,PDUL 3RUFHODLQV

$ 6DWVXPD 7\SH *OREXODU 9DVH ZLWK *LOW 0HWDO 0RXQWV

,QFOXGLQJ WZR SDUWLDO 6DWVXPD W\SH WHD VHWV DQG WZR FRYHUHG ,PDUL ERZOV ^7DOOHVW LQFKHV FP ` >:HDU VPDOO FKLSV VRLOLQJ VWDLQLQJ@

(VWLPDWH

(VWLPDWH

)RXU -DSDQHVH 3RUFHODLQ %RZOV

(VWLPDWH

,QFOXGLQJ D ODUJH EOXH DQG ZKLWH ORZ ERZO ZLWK UROOHG ULP D EOXH DQG ZKLWH ERZO ZLWK JLOW SDLQWHG GHFRUDWLRQV DQG WZR LPDUL VW\OH ERZO IHDWXULQJ YDULRXV IORUDO DQG JHRPHWULF GHVLJQV ^/DUJHVW LQFKHV FP LQ GLDPHWHU` >$EUDVLRQV FUDFNV RYHUDOO ZHDU 7KLV FRQGLWLRQ UHSRUW VWDWHV PDMRU FRQGLWLRQ LVVXHV RQO\@

,QFOXGLQJ HLJKWHHQ SODWHV ZLWK OREHG ULPV RQH ODUJH ERZO DQG D VHW RI IRXU QHVWLQJ ERZOV ZLWK SHWDO IRUP ULPV ^'LDPHWHU LQFKHV FP RI HDFK SODWH` >&UD]LQJ FUDFNV FKLSV ZHDU WR WKH HQDPHO@

+HDYLO\ SDLQWHG ZLWK ILJXUDO UHVHUYHV WR WKH H[WHULRU PRXQWHG ZLWK D JLOW PHWDO ULP DQG KDQGOHV VXSSRUWHG XSRQ IRXU JLOW PHWDO IHHW ^+HLJKW LQFKHV FP

LQFOXGLQJ KDQGOHV` >:HDU WR WKH HQDPHO VRLOLQJ ILULQJ IODZV@

7ZR -DSDQHVH 9DVHV

,QFOXGLQJ RQH IORUDO PRWLI FORLVRQQp YDVH ZLWK ORRVH ULQJ KDQGOHV DQG RQH VPDOO EURQ]H YDVH ^7DOOHU LQFKHV FP ` >'HQWV VRLOLQJ VWDLQLQJ FRUURVLRQ@

(VWLPDWH

$ 3DLU RI -DSDQHVH &ORLVRQQp (QDPHO 9DVHV

(DFK RI EDOXVWHU IRUP GHFRUDWHG ZLWK FUDQHV DQG EORRPLQJ IORZHUV ^+HLJKW LQFKHV FP ` >$EUDVLRQV VPDOO HQDPHO ORVVHV VPDOO QLFNV WR ULPV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$ 3DLU RI *LQEDUL -LSSR &ORLVRQQp (QDPHO 9DVHV

$ -DSDQHVH %UDVV *RQJ RQ D &DUYHG :RRG 6WDQG

(DFK ERG\ GLPSOHG DQG HPERVVHG ZLWK D ELUG DQG EDPERR GHVLJQ IXUWKHU GHFRUDWHG ZLWK D FORLVRQQp HQDPHO IORUDO GHVLJQ ^+HLJKW LQFKHV FP HDFK`

(VWLPDWH

7KH VWDQG KHDYLO\ GHFRUDWHG ZLWK GUDJRQV EDWV DQG FRLQV ^ [ LQFKHV [ FP ` >&UDFNV VPDOO ORVVHV VRLOLQJ PLQRU VWDLQLQJ@

(VWLPDWH

$ 3DLU RI -DSDQHVH &ORLVRQQp (QDPHO 9DVHV 0RXQWHG DV /DPSV

(VWLPDWH

(DFK RI VTXDUH EDOXVWHU IRUP IODQNHG E\ FXUYLQJ KDQGOHV DQG GHFRUDWHG ZLWK ODUJH FRORUIXO IORZHUV ZLWK PDWFKLQJ FUHDP FRORUHG ODPS VKDGHV ^+HLJKW LQFKHV FP RI YDVHV` >2YHUDOO ZHDU VRLOLQJ@

7KUHH -DSDQHVH %URQ]H 2EMHFWV

,QFOXGLQJ D SDLU RI KLEDFKL DQG D VPDOO WULSRG FHQVHU ^7DOOHVW LQFKHV FP ` >6RLOLQJ GHQWV RYHUDOO ZHDU DEUDVLRQV VWDLQLQJ ZHLJKWHG KLEDFKL@

(VWLPDWH

$ -DSDQHVH %URQ]H 0RGHO RI DQ (OHSKDQW

$ 3DLU RI -DSDQHVH 3DUFHO &ORLVRQQp (QDPHO 9DVHV

6KRZQ ZDONLQJ ZLWK H[WHQGHG WUXQN XQVLJQHG ^+HLJKW LQFKHV FP ` >$EUDVLRQV VRLOLQJ ORRVH RU GHWDFKHG WXVNV@

^+HLJKW LQFKHV FP ` >6PDOO GHQWV ORVVHV RYHUDOO ZHDU VRLOLQJ@

(VWLPDWH

(VWLPDWH

$ :DNL]DVKL

$ 3DLU RI -DSDQHVH 6LOYHU ,QODLG &DVW ,URQ 6WLUUXSV

(VWLPDWH

(GR 3HULRG (DFK GHFRUDWHG LQ VLOYHU LQOD\ ZLWK D OR]HQJH PRWLI VXUURXQGHG E\ GHOLFDWH VFUROOLQJ OHDI\ YLQHV WKH LQVWHSV SDLQWHG ZLWK UHG ODFTXHU WKH EDVHV VXEWO\ GHFRUDWHG ZLWK IXUWKHU YLQH VFUROOV ^+HLJKW LQFKHV FP HDFK DSSUR[LPDWHO\` >/RVVHV VPDOO QLFNV DQG GHQWV FUDFNV WR ODFTXHU RYHUDOO ZHDU@

WK &HQWXU\ :LWK D ODFTXHUHG VFDEEDUG D FDVW LURQ WVXED DQG JLOW PHWDO ILWWLQJV RQ VKDJUHHQ FRYHUHG KDQGOH ^/HQJWK LQFKHV FP RI EODGH DSSUR[LPDWHO\` >/RVVHV WR WKH ODFTXHUHG VFDEEDUG PLQRU ZHDU WR WKH EODGH DQG ILWWLQJV@

(VWLPDWH

)RXU -DSDQHVH /DFTXHU %R[HV 'HFRUDWHG ZLWK ODQGVFDSHV OXVK IORZHUV ELUGV LQVHFWV IUXLW DQG D WKHDWULFDO PDVN WKH ODUJHVW ER[ ZLWK D ILWWHG WUD\ LQVLGH ^:LGHVW LQFKHV FP ` >&UDFNV FKLSV DEUDVLRQV VRLOLQJ RYHUDOO ZHDU@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7KUHH -DSDQHVH /DFTXHU 7UD\V

(VWLPDWH

,QFOXGLQJ WZR VTXDUH IRUP WUD\V GHSLFWLQJ ODQGVFDSH VFHQHV DQG RQH ODUJHU UHFWDQJXODU WUD\ GHFRUDWHG ZLWK PDSOH OHDYHV VRPH ZLWK PRWKHU RI SHDUO LQOD\ WKH WZR ODUJHU WUD\V ZLWK PDUNV WR WKH EDFN ^:LGHVW LQFKHV FP ` >&UDFNV ORVVHV VRLOLQJ DEUDVLRQV RYHUDOO ZHDU@

7HQ -DSDQHVH :RRGEORFN 3ULQWV

(VWLPDWH

7KUHH -DSDQHVH :RRGFXWV

(VWLPDWH

D 8WDJDZD +LURVKLJH ,

0RQNH\ %ULGJH LQ WKH .DL 3URYLQFH IURP WKH VHULHV )DPRXV 3ODFHV LQ WKH 6L[W\ RGG 3URYLQFHV REDQ WLWOHG ZLWK RQH VHDO PRXQWHG E 8WDJDZD +LURVKLJH ,,

'DLVKLJDZDUD IURP WKH VHULHV 6FHQHV RI )DPRXV 3ODFHV DORQJ WKH 7RNDLGR 5RDG REDQ WLWOHG ZLWK RQH VHDO PRXQWHG F *LQNR $GDFKL DFWLYH

)LJXUHV REDQ WLWOHG DQG VLJQHG PRXQWHG >)ROGLQJV VWDLQV WHDUV@

D 8WDJDZD +LURVKLJH

6HYHQ %LUGV VLJQHG ZLWK RQH VHDO IUDPHG DQG JOD]HG E 8WDJDZD +LURVKLJH

6KRZHU RQ 1LKRQEDVKL %ULGJH IURP WKH VHULHV )DPRXV 3ODFHV LQ WKH (DVWHUQ &DSLWDO REDQ WLWOHG DQG VLJQHG ZLWK PXOWLSOH VHDOV PRXQWHG F 8WDJDZD +LURVKLJH

.DVKLZDEDUD IURP WKH VHULHV

6L[W\ QLQH 6WDWLRQV RI WKH .LVR +LJKZD\ REDQ WLWOHG DQG VLJQHG ZLWK PXOWLSOH VHDOV PRXQWHG G DIWHU 8WDJDZD +LURVKLJH

.DZDVDNL IURP WKH VHULHV

)LIW\ WKUHH 6WDWLRQV RI 7RNDLGR

REDQ WLWOHG DQG VLJQHG ZLWK WZR VHDOV PRXQWHG H .HLVDL (LVHQ

6DNDPRWR IURP WKH VHULHV

6L[W\ QLQH 6WDWLRQV RI WKH .LVR +LJKZD\ REDQ WLWOHG DQG VLJQHG ZLWK PXOWLSOH VHDOV PRXQWHG I $QRQ\PRXV <DUG *DWKHULQJ XQVLJQHG WLWOHG ZLWK RQH VHDO J 6KRWHL 7DNDKDVKL

7KXQGHUVWRUP DW 7DWHLVKL RKRVREDQ WLWOHG ZLWK RQH VHDO IUDPHG DQG JOD]HG K 8WDJDZD .XQL\RVKL

3ULHVW 1LFKLUHQ 3UD\LQJ 8QGHU WKH 6WRUP REDQ WLWOHG DQG VLJQHG IUDPHG DQG JOD]HG L .DWVXVKLND +RNXVDL

7LPEHU\DUG DW +RQMR IURP WKH VHULHV

7KLUW\ VL[ 9LHZV RI 0W )XML REDQ WLWOHG DQG VLJQHG IUDPHG DQG JOD]HG M 7VXNLRND <RVKLWRVKL

*HQHUDO ZLWK WKH 'UXP REDQ WLWOHG ZLWK PXOWLSOH VHDOV IUDPHG DQG JOD]HG

7RVKL <RVKLGD

7ZR :RRGEORFN 3ULQWV

D 7RN\R DW QLJKW 6KLQMXNX FKXEDQ WLWOHG DQG GDWHG VLJQHG ZLWK RQH VHDO IUDPHG DQG JOD]HG E

7RN\R DW QLJKW 6XSSHU :DJRQ FKXEDQ WLWOHG DQG GDWHG VLJQHG ZLWK RQH VHDO IUDPHG DQG JOD]HG

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

(OL]DEHWK .HLWK

:RQVDQ .RUHD

(8523($1 6&+22/

/DWH WK &HQWXU\ (DUO\ WK &HQWXU\

/RYHUV LQ %RDW ZLWK 2OG 0DQ 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U 9 2WWR

2EDQ WKH ERWWRP WLWOHG DQG VLJQHG LQ (QJOLVK RQH VHDO PRXQWHG

(VWLPDWH

(VWLPDWH

9DULRXV $UWLVWV $ 6HW RI )RUW\ 2QH -DSDQHVH :RRGEORFN 3ULQWV

-$0(6 /$:621 :,1*$7(

8QLWHG .LQJGRP

8QWLWOHG /DQGVFDSH 2LO RQ FDQYDV [ LQFKHV IUDPH [ LQFKHV 6LJQHG O U &21',7,21 3DWFK YHUVR RWKHUZLVH LQ JRRG FRQGLWLRQ

&RPSULVLQJ WZHQW\ RQH YROXPHV LQ WRWDO REDQ HDFK PRXQWHG PRVW VLJQHG DQG ZLWK DUWLVW DQG SULQW GHVFULSWLRQ ILWWHG LQ D KDUGFRYHU ER[ OLQHG ZLWK VLON

(VWLPDWH

(VWLPDWH

)5$1= 921 678&.

(VWLPDWH

*HUPDQ

3RUWUDLW RI D 'DUN +DLUHG %HDXW\ 3DVWHO DQG FKDUFRDO RQ SDSHUERDUG [ LQFKHV [ FHQWLPHWHUV 6LJQHG ULJKW FHQWHU )UDQ] 6WXFN &RQGLWLRQ SDSHUERDUG FRORU KDV VKLIWHG GXH WR OLJKW H[SRVXUH $ IHZ VPDOO DUHDV RI VXUIDFH VRLOLQJ ULJKW RI ZRPDQ

(0,/( %5(66/(5

(VWLPDWH

)5(1&+ 6&+22/

(VWLPDWH

WK &HQWXU\

3RUWUDLW RI D 'RJ 3DVWHO RQ SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV ,QVFULSWLRQ YHUVR UHDGV 6WDPSHG RQ EDFN ([SRVLWLRQ 8QLYHUVHOOH GH 0HQWLRQ +RQRUDEOH 3DSLHU &DUWRRQ &KDVVLV 7RLOHV $QWL SRQFH SRXU OH SDVWHO 3 / %UHYHWH 3$5,6 0$548( '(326(( DQG XSSHU OHIW KDQG FRUQHU LQ SHQFLO 69

6ZLVV

+RVSLFH GH 6DU]HDX 0RUELKDQ

2LO RQ FDQYDV [ LQFKHV [ FHQWLPHWHUV 6LJQHG GDWHG ORZHU ULJKW %UHVVOHU

9HUVR 7LWOHG GDWHG LQ SHQFLO RQ VWUHWFKHU +RVSLFH GH 6DU]HDX 0RUELKDQ )UDPH [ LQFKHV [ FHQWLPHWHUV 3529(1$1&( 3ULYDWH &ROOHFWLRQ 6DQ %UXQR &DOLIRUQLD

)5,('5,&+ .5$86

*HUPDQ

:DWFKLQJ WKH &KLFNHQV 2LO RQ SDQHO [ LQFKHV [ FHQWLPHWHUV 6LJQHG ORZHU OHIW ) .UDXV 3529(1$1&( 3ULYDWH &ROOHFWLRQ 7RURQWR &DQDGD

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$/0(5< /2%(/ 5,&+(

(VWLPDWH

)UHQFK

, /HV %DUV 3DULV 3RUWIROLR DQG ZRUNV

GU\SRLQW DTXDWLQW HWFKLQJV RQ SDSHU 3ODWH LQFKHV [ FP )UDPH [ LQFKHV [ FP 3RUWIROLR [ LQFKHV [ FP (DFK VLJQHG ORZHU OHIW LQ UHG FUD\RQ /REHO 5LFKH (DFK VLJQHG LQ SODWH ORZHU ULJKW /REHO 5LFKH (DFK KDV EOLQG VWDPS &0 38% 6RFLpWp GHV $PLV GH OD 3HWLWH (VWDPSH 0RGHUQH

-26() 6,&&$57 5('/

+RXVH LQ WKH 7\URO &RORU ZRRGFXW SULQW RQ SDSHU 3ODWH [ LQFKHV IUDPH [ LQFKHV 6LJQHG LQ SHQFLO U -RVHI 6LFFDUW 5HGO 127( &2$ YHUVR IURP WKH &ROOLHU $UW &RUS RI /RV $QJHOHV

(VWLPDWH

/RW RI KDQGFRORUHG HQJUDYLQJV RI WK &HQWXU\ 3DULV

&215$' )(/,;0h//(5

(VWLPDWH

*HUPDQ

/RW RI ZRRGEORFN SULQWV 3IHUGHWUDQVSRUW +RUVH &DUULDJH

DQG %OXPHQ :RRGEORFN RQ SDSHU 6KHHW [ LQFKHV [ FP [ LQFKHV [ FP 6LJQHG LQ SHQFLO ORZHU ULJKW & )HOL[PXOOHU DQG WLWOHG ORZHU OHIW LQ D GLIIHUHQW KDQG LQ LQN WLWOHG FHQWHU DQG GDWHG 6LJQHG DQG GDWHG LQ SHQFLO ORZHU ULJKW & )HOL[PXOOHU DQG QXPEHUHG LQ SHQFLO ORZHU OHIW 7LWOHG LQ SHQFLO DW ERWWRP RI VKHHW 3URYHQDQFH )URP D SULYDWH QRUWKHUQ 1HYDGD FROOHFWLRQ

(VWLPDWH

-($1 /$812,6

)UHQFK

6HLQH 5LYHU 3DULV :DWHUFRORU RQ SDSHU 6KHHW [ LQFKHV [ FHQWLPHWHUV 6LJQHG ORZHU ULJKW -HDQ /DXQRLV )UDPH [ LQFKHV [ FHQWLPHWHUV

(VWLPDWH

$12721, 'H9,7< DQG '(5(02

(8523($1 6&+22/

(DUO\ WR 0LG WK &HQWXU\

)UHH 3RUW RI &RSHQKDJHQ (WFKLQJ RQ WRQHG SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV ,QLWLDOHG LQ SODWH ( .

(VWLPDWH

9XH GX &KDWHDX GH 9LQFHQQHV GX FRWH GH O (QWUHH [ LQFKHV )UDPH [ LQFKHV 9XH G 2SWLTXH 5HSUHQWDQW [ LQFKHV )UDPH [ LQFKHV /H -DUGLQ GH 7XLOOHULHV [ LQFKHV )UDPH [ LQFKHV

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

WK &HQWXU\ /RW RI SDLQWLQJV 3DULVLDQ &LW\VFDSHV (DFK RLO RQ FDQYDV 'HYLW\ [ LQFKHV IUDPH [ LQFKHV 'HUHPR [ LQFKHV IUDPH [ LQFKHV (DFK VLJQHG O U 127( 6WDPS YHUVR 6WXGLR 'DS\H 'HYLW\ ,WDOLD

3DJH

$ $XJXVW (VWDWH $XFWLRQ

+8%(57 :,//,$06

(8523($1 6&+22/

(QJOLVK

6RXWKZDUN &DWKHGUDO :DWHUFRORU RQ SDSHU [ LQFKHV )UDPH [ LQFKHV 6LJQHG DQG GDWHG LQ LQN >&RQGLWLRQ 1RW LQVSHFWHG RXW RI IUDPH PDUJLQV WULPPHG@

(VWLPDWH

WK &HQWXU\

&RORUIXO %RDWV LQ +DUERU 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U % -RVHQ

(VWLPDWH

5$021 &$7$/$1

$/)5(' )$516:257+

WK &HQWXU\

3HUXYLDQ /DQGVFDSH 2LO RQ FDQYDV [ LQFKHV [ FHQWLPHWHUV 6LJQHG ORZHU ULJKW 5DPRQ &DWDODQ )UDPH [ LQFKHV [ FHQWLPHWHUV

(VWLPDWH

(VWLPDWH

%5$')25' /$0%(57

(VWLPDWH

(XURSHDQ /DWH WK (DUO\ WK &HQWXU\

,Q WKH +RXUV 2LO RQ SDQHO [ LQFKHV [ FHQWLPHWHUV 6LJQHG ORZHU OHIW % /DPEHUW 9HUVR /DEHO UHDGLQJ 1R ,Q WKH +RXUV )UDPH [ LQFKHV [ FHQWLPHWHUV

:,//$5' 3$*(

(VWLPDWH

(8523($1 6&+22/

$PHULFDQ

/RW RI WZR VPDOO PRXQWDLQ ODQGVFDSHV 2LO RQ ERDUG (DFK ZLWK IUDPH [ LQFKHV 2QH LQLWLDOHG O O :3 DQG RQH XQVLJQHG 127(6 6WDPSHG RQ EDFN RI HDFK 2ULJLQDO 2LO 3DLQWLQJV :LOODUG - 3DJH 6WXGLR %RXOGHU &ROR ,Q RULJLQDO IUDPHV

$0(5,&$1 6&+22/

)LUVW +DOI WK &HQWXU\ /H &URLVHF 3DVWHO RQ WRQHG SDSHU 6LJKW [ LQFKHV IUDPH [ LQFKHV 6LJQHG O U /LPD]LQ %DODV 127( /DEHO YHUVR *DOOHULHV *HRUJH 3HWLW

(VWLPDWH

$PHULFDQ

6KLSV LQ *ROGHQ *DWH :DWHUFRORU RQ SDSHU [ LQFKHV [ FHQWLPHWHUV ,QWLDOHG GDWHG ORZHU OHIW $ )

)UDPH [ LQFKHV [ FHQWLPHWHUV

WK &HQWXU\

&DQ\RQ /DQGVFDSH ZLWK DQ (ON E\ WKH 5LYHU 2LO RQ SDQHO [ LQFKHV IUDPH [ LQFKHV 6LJQHG O O LOOHJLEOH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

)5$1= $57+85 %,6&+2))

(VWLPDWH

$PHULFDQ

&DOLIRUQLD )RRWKLOOV 2LO RQ FDQYDV ODLG WR ERDUG 6LJKW [ LQFKHV [ FHQWLPHWHUV )UDPH [ LQFKHV [ FFHQWLPHWHUHV 6LJQHG ORZHU ULJKW )UDQ] $ %LVFKRII 3529(1$1&( 3ULYDWH &ROOHFWLRQ 6DQ )UDQFLVFR &DOLIRUQLD

'$,6< 0$5*8(5,7( +8*+(6 $PHULFDQ

7KH &KXUFK RQ WKH +LOO 2LO RQ FDQYDV 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O

(VWLPDWH

(/,2 &$0$&+2

7+20$6 $'',621 5,&+$5'6 $PHULFDQ

6WLOO /LIH ZLWK )UXLW 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O 127(6 ,Q EHDXWLIXO SHULRG IUDPH

(VWLPDWH

$PHULFDQ WK VW &HQWXU\

/DQGVFDSH 2LO RQ SDQHO [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O DQG GDWHG YHUVR

(VWLPDWH

$0(5,&$1 6&+22/

)5$1&,6 $8*86786 72'+817(5

(VWLPDWH

&DOLIRUQLD

4XLHW /DQGVFDSH 2LO RQ FDQYDV ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U 127(6 *DOOHU\ ODEHO YHUVR 025&20 6 7KH +RXVH RI %HDXWLIXO 7KLQJV 2DNODQG

)LUVW KDOI RI WK &HQWXU\

%DUQ LQ )RUHVW 2LO RQ PDVRQLWH 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O &UDZIRUG

(VWLPDWH

3(7(5 :$/./(<

3(7(5 /$1= +2+167('7

$PHULFDQ

5LYHU /DQGVFDSH 2LO RQ ERDUG [ LQFKHV )UDPH LQFKHV 6LJQHG O U 127(6 $FFRPSDQLHG ZLWK SHULRG IUDPH

(VWLPDWH

$PHULFDQ WK &HQWXU\

%HPLV 3DUN $FU\OLF RQ ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG DQG GDWHG O U

(VWLPDWH

-26(3+ '( 0$57,1,

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

$PHULFDQ

4XDUU\ %DWKHUV 2LO RQ ERDUG 6LJKW [ LQFKHV [ FP )UDPH [ LQFKHV [ FP 6LJQHG ORZHU ULJKW -RVHSK GH 0DUWLQL 3URYHQDQFH 3ULYDWH FROOHFWLRQ 1RUWKHUQ &DOLIRUQLD

3DJH

$ $XJXVW (VWDWH $XFWLRQ

'$9,6 )5$1&,6 6&+:$57=

(VWLPDWH

$PHULFDQ

7ZR ZRUNV &RXQWU\ 5RDG 2OG %DUQ &KDUFRDO FKDON RQ SDSHU 5RDG [ LQFKHV [ FHQWLPHWHUV %DUQ [ LQFKHV [ FHQWLPHWHUV %RWK 6LJQHG ORZHU ULJKW 'DYLG ) 6FKZDUW] )UDPH [ LQFKHV [ FHQWLPHWHUV )UDPH [ LQFKHV [ FHQWLPHWHUV

1$1(77( 2/(621

$PHULFDQ WK VW &HQWXU\

,QWHUQDO &DOP 2LO RQ FDQYDV [ LQFKHV 6LJQHG O O

(VWLPDWH

1250$1 52&.:(//

.$< +2332&.

$PHULFDQ WK &HQWXU\

6WLOO /LIH 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

(VWLPDWH

(VWLPDWH

$PHULFDQ

&RQYHQWLRQ &ROORW\SH OLWKRJUDSK RQ SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG LQ SHQFLO O U DQG DQQRWDWHG O O DS IURP DQ HGLWLRQ RI $3 DQG QXPEHUHG

127( &2$ DWWDFKHG WR EDFN

5 & *250$1

$PHULFDQ

7KH %HDG 0DNHU 6HULJUDSK RQ SDSHU 6KHHW [ LQFKHV )UDPH [ LQFKHV 6LJQHG DQG GDWHG LQ SHQFLO O O DQG QXPEHUHG O O

1$1(77( 2/(621

$PHULFDQ WK VW &HQWXU\

:DWHU 6HUHQDGH 2LO RQ FDQYDV [ LQFKHV 6LJQHG O U

(VWLPDWH

(VWLPDWH

3(7(5 *2,1

1$1(77( 2/(621

$PHULFDQ WK VW &HQWXU\

%ORRPLQJ 5HG /LOLHV 2LO RQ FDQYDV [ LQFKHV 6LJQHG O O

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

$PHULFDQ E

3RUWIROLR DQG FDVH 6FHQHV IURP WKH %ODFN 5RFN 'HVHUW $ 3RUWIROLR RI 3KRWRJUDSKV E\ 3HWHU *RLQ 7KH %ODFN 5RFN 3UHVV 8QLYHUVLW\ RI 1HYDGD 5HQR +DUGFRYHU ERRN 3(7(5 *2,1 %ODFN 5RFN 8QLYHUVLW\ RI 1HYDGD 3UHVV 3RUWIROLR PHDVXUHV [ LQFKHV %RRN PHDVXUHV [ LQFKHV 3RUWIROLR E\ 3HWHU *RLQ HDFK SULQW VLJQHG DQG QXPEHUHG LQ SHQFLO O O

3DJH

$ $XJXVW (VWDWH $XFWLRQ

*5(*25< ' *2/8%())

)5$1. :,//,$0 &835,(1

&DOLIRUQLDQ

3RUWUDLW RI <RXQJ 0DQ 2LO RQ ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

(VWLPDWH

$PHULFDQ

7ZLOLJKW 2LO RQ ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O DQG DQQRWDWHG YHUVR

(VWLPDWH

%25,6 ,65$(/(9,&+ $1,6)(/'

(//(1 )5$1&(6 %853(( )$55

5XVVLDQ )HGHUDWLRQ ERUQ $PHULFDQ

3RUWUDLW 2LO RQ FDQYDV [ 6LJQHG O U %RULV $QLVIHOG

(VWLPDWH

&DOLIRUQLDQ

3HSSHU 7UHH 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG DQG GDWHG RQ ERWWRP (OOHQ % )DUU

(VWLPDWH

%25,6 ,65$(/(9,&+ $1,6)(/'

/(2/$ +$// &2**,16

&DOLIRUQLDQ

6XQVHW 2LO RQ ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

5XVVLDQ )HGHUDWLRQ ERUQ $PHULFDQ

3RUWUDLW RI D *LUO 2LO RQ FDQYDV [ VLJQHG O U %RULV $QLVIHOG

(VWLPDWH

(VWLPDWH

-26(3+ ./(,76&+

7,/'(1 '$.(1

+XQJDULDQ ERUQ &DOLIRUQLDQ

%DUQ RQ )DUPVWHDG 2LO RQ FDQYDV [ LQFKHV [ FP )UDPH [ LQFKHV 6LJQHG ORZHU ULJKW - ./(,76&+

(VWLPDWH

(VWLPDWH

&DOLIRUQLDQ

5LYHU DQG 0RXQWDLQ )UDPHG RLO RQ FDQYDV [ LQFKHV IUDPH [ LQFKHV 6LJQHG O U 7LOGHQ 'DNHQ &. &21',7,21 :LWK VRPH ORVV WR SDLQW $SSUR[LPDWH LQFK DEUDVLRQ IURP LQFKHV IURP ULJKW VLGH LQFK ORQJ DEUDVLRQ H[SRVLQJ FDQYDV LQ VN\ DV ZHOO 127( $FFRPSDQLHG E\ SHULRG IUDPH

.$5/ (8*(1 1(8+$86

*HUPDQ ERUQ &DOLIRUQLDQ

&OHDULQJ DW 'XVN 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

(7+(/ 0$5,$1 :,&.(6

720 ,'(

&DOLIRUQLDQ

&OHDUODNH 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O (0: DQG GDWHG $SULO

(VWLPDWH

&DOLIRUQLDQ WK &HQWXU\

/DG\ IRU +LUH 2LO RQ FDQYDV [ LQFKHV 6LJQHG DQG GDWHG O U ,GH 127(6 0D[ZHOO *DOOHULHV ODEHO YHUVR

(VWLPDWH

-2+1 '20,1,48(

(VWLPDWH

&DOLIRUQLDQ

/RW RI WZR $ %HQG LQ WKH 5LYHU DQG 6XPPHU 2MDL +LOOV (DFK RLO RQ ERDUG [ LQFKHV )UDPHV [ LQFKHV DQG [ LQFKHV (DFK VLJQHG DQG GDWHG DQG UHVSHFWLYHO\

720 ,'(

&DOLIRUQLDQ WK &HQWXU\

7ZR 6WDQGLQJ )LJXUHV 2LO RQ FDQYDV [ LQFKHV 127(6 0D[ZHOO JDOOHULHV ODEHO YHUVR

(VWLPDWH

&$/,)251,$ 6&+22/

0,//$5' 6+((76

WK &HQWXU\

%RDWV LQ +DUERU 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U 3 &LPHQW 127(6 $QQRWDWHG YHUVR 3K\OLLV &LPHQW

&DOLIRUQLDQ

%DQDQD 7UHH :DWHUFRORU RQ SDSHU 6LJKW [ LQFKHV [ LQFKHV 6LJQHG DQG GDWHG O U

(VWLPDWH

(VWLPDWH

-2+1 $ '20,1,48(

7+20$6 3$75,&. -5 48,11

$PHULFDQ ERUQ LQ 6ZHGHQ

%HDFK 1HDU 6DQWD %DUEDUD 2LO RQ FDQYDV [ LQFKHV 6LQJHG DQG GDWHG O U 'RPLQLTXH

1RWH $UWLVW ELR YHUVR

&DOLIRUQLDQ E

6DQGSLSHU 2LO DQG SHQFLO RQ SDSHU 6LJKW [ LQFKHV 6LJQHG DQG GDWHG O U

(VWLPDWH

(VWLPDWH

5,&+$5' 6&+/266

-$1( %5$')25'

&DOLIRUQLDQ E

6HDVFDSH 2LO RQ FDQYDV 6LJKW [ LQFKHV 6LJQHG DQG GDWHG O U

$PHULFDQ

9LHZ RI &DQQDU\ 5RZ 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

/(2 0,//(5 +2/8%

-2$1 0,5Ð

&DOLIRUQLDQ

&R\RWH QHDU +DSS\ ,VOH <RVHPLWH

6LOYHU JHODWLQ SULQW ODLG RQ ERDUG [ LQFKHV )UDPH [ LQFKHV 6LJQHG LQ SHQFLO O U

(VWLPDWH

(VWLPDWH

686$1 .$7+(5,1( (8%$1. .(//(<

3$%/2 3,&$662

&DOLIRUQLDQ

(XFDO\SWXV 7UHHV 2LO RQ FDQYDV [ LQFKHV IUDPH [ LQFKHV 6LJQHG O U LQ SHQ 6 ( .HOOH\

(VWLPDWH

6SDQLVK

&RORPEH 9RODQW /LWKRJUDSK RQ SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV 3ODWH VLJQHG O U IURP DQ HGLWLRQ RI SODWH VLJQHG

127( &2$ DWWDFKHG WR EDFN

(VWLPDWH

52, 3$575,'*(

(VWLPDWH

6SDQLVK

8QWLWOHG IURP 0DUDYLOODV FRQ 9DULFLRQHV $FURVWLFDV HQ HO -DUGLQ GH 0LUR :RQGHUV ZLWK $ULVWRFUDWLF 9DULDWLRQ LQ 0LUR V *DUGHQ

&RORU OLWKRJUDSK RQ SDSHU 6LJKW [ LQFKHV [ FP )UDPH [ LQFKHV 6LJQHG LQ SHQFLO ORZHU ULJKW 0LUy 1XPEHUHG LQ SHQFLO ORZHU OHIW

&DOLIRUQLD

8QWLWOHG &DOLIRUQLD /DQGVFDSH ZLWK 7UHHV (WFKLQJ RQ WRQHG SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG LQ SHQFLO LQ ERWWRP PDUJLQ 6LJQHG DQG GDWHG LQ SODWH 127( /DEHO RQ EDFN UHDGV 1DWKDQ , %LMXU SUL]H RQ /DV *RPDV %URRNO\Q 6RFLHW\ RI (WFKHUV IRU %(67 35,17 %< $1 (;+,%,725 127 $ 0(0%(5 2) 7+( 62&,(7<

*(1( '$9,6

$PHULFDQ

<DQNHH 'RRGOH 6HULJUDSK RQ SDSHU 6LJKW [ LQFKHV [ FP )UDPH [ LQFKHV 6LJQHG DQG QXPEHUHG ORZHU ULJKW *HQH 'DYLV

(VWLPDWH

520$,1 (57( '( 7,572))

5XVVLDQ ERUQ ZRUNHG LQ 86 DQG )UDQFH

7KH )UHQFK 5RRVWHU 6HULJUDSK RQ SDSHU 1XPEHUHG 6LJQHG O U (UWH 1RWH 6HULJUDSK FRPHV ZLWK D &HUWLILFDWH

6$/9$'25 '$/,

(VWLPDWH

6SDQLVK

7KH &KULVW RI *DOD 3DLU RI K\SHUVWHUHRVFRSLF OLWKRJUDSKV RQ -DSRQ SDSHU (DFK [ LQFKHV VLJKW [ FP )UDPH [ LQFKHV [ FP )LUVW OLWKRJUDSK VLJQHG LQ SHQFLO ORZHU ULJKW '$/, 6HFRQG OLWKRJUDSK HPERVVHG VLJQDWXUH ORZHU ULJKW DQG QXPEHUHG LQ SHQFLO ORZHU OHIW +& 3URYHQDQFH 3ULYDWH FROOHFWLRQ %UHQWZRRG &$ ,QFOXGHG LQ ORW 2ULJLQDO VWHUHRSWLFRQ JODVV YLHZLQJ GHYLFH DQG &2$

(VWLPDWH

-2$1 0,52

6SDQLVK

3ODWH /LWKRJUDSK RQ SDSHU 6KHHW [ LQFKHV 6LJQHG O U DQG QXPEHUHG O O

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$WWULEXWHG WR %(1,$0,12 %(19(1872 %8)$12

(VWLPDWH

&DOLIRUQLDQ

(DJOH 0DTXHWWH IRU 3URSRVHG 6FXOSWXUH DW $OFDWUD] %URQ]H FRYHUHG SODVWHU ZLWK ZRRG WDLO %URQ]H (DJOH OHQJWK EHDN WR ERG\ LQFKHV ZLQJ WR ZLQJ

LQFKHV GHSWK :LWK :RRGHQ WDLO VWDQG LQFKHV [ LQFKHV 8QVLJQHG &21',7,21 &UDFNV LQ EURQ]H ZKHUH ZLQJV MRLQ ERG\ OLJKW VXUIDFH DEUDVLRQV WKURXJKRXW EURQ]H ERG\ 6SOLWWLQJ LQ ZRRG DW WDLO VWDQG PDGH IURP UHFODLPHG ZRRG FKLSSLQJ WR DUHD ZKHUH EURQ]H VLWV RQ EDVH EDVH PDGH IURP FDUSHQWHU ERQGR

7ZR SDUWV KHOG WRJHWKHU E\ LQFK SLHFH RI UHEDU

3(7(5 0$;

-($1 9$5'$

&DOLIRUQLDQ

&LW\VFDSH 0L[HG PHGLD RQ SDQHO [ LQFKHV 6LJQHG O O 9DUGD

(VWLPDWH

0,&+$(/ &223(5 %RRN %OLQGV DQG 6KXWWHUV

(VWLPDWH

*HUPDQ ERUQ ZRUNHG LQ $PHULFD ERUQ

)ORZHUV /LWKRJUDSK RQ SDSHU 3ODWH [ LQFKHV )UDPH 1XPEHUHG $3 6LJQHG O U 3HWHU 0D[

5(1( &28785,(5

(VWLPDWH

3,(55( *8,//21

)UHQFK WK VW &HQWXU\

7KH )DPLO\ RI 2LO RQ FDQYDV [ LQFKHV 6LJQHG DQG GDWHG O O

%OLQGV DQG 6KXWWHUV 3KRWRJUDSKV E\ 0,&+$(/ &223(5 %ULWLVK

3XEOLVKHUV %ULDQ 5R\ODQFH DQG 'DYLG +HGOH\ *HQHVLV +HGOH\

%RRN RULJLQDWRU DQG H[HFWLYH FRQVXOWDQW %LOO :\PDQ [ LQFKHV 1XPEHUHG RI 6LJQHG E\ QXPHURXV FRQWULEWXRUV LQFOXGLQJ %ULDQ $XJHU 3HWHU %ODNH $GDP &RRSHU DQG 'HQQLV +RSSHU

(VWLPDWH

1HWKHUODQGV E

$UEUHV 1R 7UHHV

2LO RQ FDQYDV [ LQFKHV 8QIUDPHG 6LJQHG O O DQG VLJQHG WLWOHG DQG GDWHG YHUVR &21',7,21 /RVV RI SDLQW LQ WUHH WUXQN RQ ULJKW PHDVXULQJ [ LQFK H[SRVLQJ ZKLWH JURXQG %OXH SDLQW RQ URRI LQ IURQW EXLOGLQJ DFWLYHO\ FUDFNHG DQG OLIWLQJ IURP FDQYDV

,*25 0('9('(9

(VWLPDWH

5XVVLDQ )HGHUDWLRQ WK &HQWXU\

$EVWUDFW 0L[HG 0HGLD [ LQFKHV 6LJQHG LQ SHQFLO RQ IURQW RI JODVV

3,(55( *8,//21

)UHQFK WK VW &HQWXU\

6XQGD\ $IWHUQRRQ 2LO RQ FDQYDV [ LQFKHV 6LJQHG DQG GDWHG O U

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&$/,)251,$ 6&+22/

(//:22' *5$+$0

WK &HQWXU\

3OD\LQJ %DOO DW WKH %HDFK +HDOGVEXUJ 2LO RQ FDQYDV [ LQFKHV 6LJQHG DQG GDWHG O U /DQGD

(VWLPDWH

$PHULFDQ

8QWLWOHG $EVWUDFW :DWHUFRORU RQ SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG LQ SHQFLO O O

(VWLPDWH

67(:$57 +(7&+

&+, &+81* +8

$PHULFDQ WK &HQWXU\

$ *R *R *LUO 2LO RQ FDQYDV [ LQFKHV 6LJQHG DQG GHGLFDWHG YHUVR

(VWLPDWH

ERUQ LQ &KLQD PRYHG WR 86

%DPERR *DUGHQ 2LO RQ FDQYDV [ LQFKHV )UDPH [ LQFKHV 6LJQHG O O

(VWLPDWH

6&277 0877(5

(VWLPDWH

$PHULFDQ

/RW RI 3KRWRJUDSKV $LU &RQGLWLRQHU DQG +LJKZD\ &KXUFK 6LOYHU JHODWLQ SULQW (DFK PHDVXUHV [ LQFKHV DQG [ LQFKHV )UDPH [ LQFKHV (DFK VLJQHG DQG GDWHG LQ SHQFLO O U 6FRWW 0XWWHU 6FRWW 0XWWHU DQG HDFK QXPEHUHG LQ SHQFLO O O

$/%(57 &/<0(5

$PHULFDQ ERUQ

)RJJ\ )DUP $FU\OLF RQ ERDUG 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U &O\PHU

(VWLPDWH

75,1,'$' 2625,2

0H[LFDQ

*LUO DQG )UXLW 6WDQG 2LO RQ OLQHQ [ LQFKHV 6LJQHG O O

&$5<%( +pFWRU -XOLR 3iULGH %HUQDEy

$UJHQWLQD %UD]LO

6HYHQ $IULFDQ /HJHQGV RI %DKLD 3RUWIROLR SULQWV DQG FDVH SKRWRV (DFK [ LQFKHV

(VWLPDWH

(VWLPDWH

'21 %/22'*22'

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

$PHULFDQ WK &HQWXU\

/RW RI SDLQWLQJV GHSLFWLQJ FODVVLF :HVWHUQ $PHULFDQ ODQGVFDSHV LQ EULJKW DQLPDWLRQ VW\OH 2LO RQ ERDUG (DFK [ LQFKHV )UDPH UDQJHV IURP [ LQFKHV WR [ LQFKHV (DFK VLJQHG O U

3DJH

$ $XJXVW (VWDWH $XFWLRQ

(5/( /25$1

(VWLPDWH

&DOLIRUQLDQ

,QGXVWULDO 6FHQH 6) %D\ &KDUFRDO RQ SDSHU 6LJKW [ LQFKHV 8QVLJQHG 127(6 )URP WKH (VWDWH RI (UOH /RUDQ WKLV XQVLJQHG ZRUN RI DUW LV IURP D JURXS SXUFKDVHG DW %XWWHUILHOGV :HVW RQ 'HF

-(66,&$ &2+(1

(VWLPDWH

0,*8(/ '20,1*8(=

-($1 .$/,6&+

&DOLIRUQLDQ ERUQ

+LOOWRS 6KHG :DWHUFRORU RQ SDSHU 6LJKW [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U 0LJXHO 'RPLQJXH]

(VWLPDWH

-DSDQHVH ERUQ V ZRUNHG LQ &DOLIRUQLD

/RW RI WZR 6WLOO /LIH 2LO RQ ERDUG 6LJKW [ LQFKHV DQG [ LQFKHV )UDPH [ LQFKHV DQG [ LQFKHV (DFK VLJQHG O U DQG O O UHVSHFWLYHO\

(VWLPDWH

*8,//$0( $=28/$<

(VWLPDWH

0RURFFDQ ERUQ ZRUNHG LQ 86 DQG ,VUDHO WK &HQWXU\

/RW RI WZR RQH OLWKRJUDSK RQ SDSHU /H *UDQGH &LUTXH VLJQHG LQ SHQFLO O U DQG QXPEHUHG O O &RS\ULJKW DQG RQH VNHWFK RI /H *UDQGH &LUTXH VLJQHG DQG WLWOHG DORQJ ULJKW VLGH )XOO VKHHW [ LQFKHV 'UDZLQJ 6LJKW [ LQFKHV )UDPH [ [ LQFKHV

3$&2 *25263(

3KLOLSSLQHV

$EVWUDFW &RPSRVLWLRQ 2LO RQ FDQYDV [ LQFKHV 6LJQHG O O

(VWLPDWH

7UXPHDX 0LUURU

=$0< 67(<129,7=

3ROLVK ERUQ OLYHG LQ ,VUDHO

8QWLWOHG $EVWUDFW ZLWK :LQJHG )LJXUHV 0L[HG PHGLD RQ SDSHU [ LQFKHV )UDPH [ LQFKHV 6LJQHG O U

(VWLPDWH

(QJOLVK ERUQ HGXFDWHG LQ ,VUHDO /LYHV LQ 86

6RQJ RI 6RQJV 6RORPRQ ,QWDJOLR HWFKLQJ RQ SDSHU )XOO VKHHW [ LQFKHV )UDPH [ LQFKHV 6LJQHG LQ SHQFLO O U GDWHG DQG WLWOHG FHQWHU DQG QXPEHUHG

^'LPHQVLRQV [ LQFKHV`

(VWLPDWH

3DLU RI /RXLV ;9, 6W\OH 8SKROVWHUHG &KDLUV

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

3DLU RI ,WDOLDQ *LOW 0HWDO )LJXUDO 6FRQFHV

/RXLV ;9, 6W\OH *UHHQ 3DLQWHG 7ZR 'RRU %RRNFDVH

FHQWHUHG E\ 1XELDQ EODFNDPRRU ILJXUHV ^+HLJKW LQFKHV`

(VWLPDWH

(VWLPDWH

/RXLV ;9 6W\OH 'RXEOH %HG )UDPH

(DUO\ WK &HQWXU\ 7KH XSSHU FDVH ZLWK DQ LQVHW UHFWDQJXODU FRUQLFH RYHU D ULEERQ WLHG IOXWHG FRUQLFH RYHU D JDGURRQHG IULH]H ZLWK FRUQHU URVHWWHV RYHU WZLQ JOD]HG GRRUV IODQNHG E\ IOXWHG VWLOHV WKH ORZHU FDVH RI WZLQ SDQHOHG GRRUV ZLWK JLOW JHVVRHG WURSK\ PHGDOOLRQV UDLVHG RXWVHW UDLO EDVH ZLWK WRXSLH IHHW ^'LPHQVLRQV [ [ LQFKHV` >%XFNOLQJ WR WKH VLGHV@ >NH\@

^'LPHQVLRQV [ [ LQFKHV`

/RXLV ;9, 6W\OH :DOQXW &DELQHW (VWLPDWH

)UHQFK 6ODWH 7KUHH 3LHFH &ORFN *DUQLWXUH

(VWLPDWH

ZLWK %HOJLXP 5HWDLOHU SDSHU ODEHO ^+HLJKW RI FORFN LQFKHV ZLGWK LQFKHV KHLJKW RI FRPSRWHV LQFKHV`

&RPSRVHG RI WKUHH VHFWLRQV WKH UHFHVVHG FHQWHU RI WZLQ JOD]HG GRRUV RYHU WKUHH ORQJ GUDZHUV ILWWHG ZLWK ORRS GURS KDQGOHV WZLQ SDQHOHG GRRUV FHQWHUHG ZLWK ULEERQ WLHG IORUDO ZUHDWK PHGDOOLRQV HDFK VHFWLRQ IODQNHG E\ IOXWHG VWLOHV ZLWK ULEERQ WLHV WKH ZKROH UDLVHG RQ IOXWHG WRXSH IHHW ^'LPHQVLRQV [ [ LQFKHV` >2QH GRRU SDQHO FUDFNHG DQG UHSDLUHG@ >NH\V@

2FWDJRQDO 0DUTXHWU\ 7DEOH

(VWLPDWH

^'LPHQVLRQV [ [ LQFKHV`

/RXLV ;9 6W\OH :DOQXW 'LQLQJ 7DEOH .LQGHO *UDQG 5DSLGV ZLWK ILYH OHDYHV ^'LPHQVLRQV [ [ LQFKHV ZLGWK RI HDFK OHDI LQFKHV`

(VWLPDWH

5RFRFR 6W\OH 6HWWHH

(VWLPDWH

ZLWK ODUJH IHPDOH KHDGHG DUPV IURQW FODZ IHHW DQG JUDSH YLQH XSKROVWHU\ LQ WKH VW\OH RI $OH[DQGHU 5RX[ ^'LPHQVLRQV [ [ ` >ORVV WR LQWHULRU HGJH RI IRRW@

6HW RI (LJKW /RXLV ;9 6W\OH 2YDO %DFN )DXWHXLOV

LQFOXGLQJ WZR DUPFKDLUV DQG VL[ GLQLQJ FKDLUV ^'LPHQVLRQV RI DUPFKDLU [ [ LQFKHV`

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

'XWFK %DURTXH 6W\OH :DOQXW %UHDNIURQW

(VWLPDWH

&LUFD 7KH XSSHU FDVH ZLWK DQ RXWVWHSSHG DUFK FRUQLFH KHDGHG E\ D OHDI\ VKHOO RYHU DQ DUFK IRUP SDQHO PROGHG GRRU KHDGHG E\ D OHDI\ SDWHUDH PHGDOOLRQ RSHQLQJ WR UHYHDO D ILWWHG LQWHULRU WKH ORZHU ERPEH FDVH ZLWK WKUHH ORQJ GUDZHUV RYHU D VFDOORSHG UDLO UDLVHG RQ FKDPIHUHG EORFN IHHW ^'LPHQVLRQV [ [ LQFKHV` >NH\V@

)OHPLVK %DURTXH 6W\OH 0DUTXHWU\ 0L[HG :RRG 6HUYHU

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

$PHULFDQ 5HQDLVVDQFH *LOWZRRG 0LUURU RQ 0DUEOH 7RS &RQVROH

,WDOLDQ 1HRFODVVLFDO 6W\OH :DOQXW 6HWWHH

(VWLPDWH

7KH UHFWDQJXODU XSVZHSW FUHVWUDLO ZLWK ODXUHO OHDI DQG HJJ GDUW EDQGLQJ RYHU RXW VZHSW VFUROO YROXWHV DUPV HDFK FDUYHG ZLWK EHOOH IORZHU DQG DFDQWKXV OHDI OHQJWKV HQGLQJ LQ OLRQ PDVNV RYHU D UHFWDQJXODU XSKROVWHUHG VHDW D FRQIRUPLQJ UDLO FDUYHG ZLWK D ULEERQ JDUODQG DURXQG D SROH WKH ZKROH FXVKLRQHG RQ VKDSHG VSDGH IHHW ^'LPHQVLRQV [ [ LQFKHV`

^'LPHQVLRQV [ [ LQFKHV` >ORVVHV WR JLOWZRRG@

(VWLPDWH

6XLWH RI 7ZHOYH *ROG 8SKROVWHUHG 'LQLQJ &KDLUV

^'LPHQVLRQV [ [ LQFKHV`

)OHPLVK %DURTXH 6W\OH 0DUTXHWU\ 0L[HG :RRG 6LGHERDUG

^'LPHQVLRQV LQFKHV [ LQFKHV [ LQFKHV`

(VWLPDWH

)OHPLVK %DURTXH 6W\OH 0DUTXHWU\ 0L[HG :RRG &RUQHU &DELQHW

(VWLPDWH

)OHPLVK %DURTXH 6W\OH 0DUTXHWU\ 0L[HG :RRG &HQWHU 7DEOH

^'LPHQVLRQV LQFKHV [ LQFKHV [ LQFKHV`

^'LPHQVLRQV LQFKHV [ LQFKHV [ LQFKHV

>NH\@

(VWLPDWH

)OHPLVK %DURTXH 6W\OH 0DUTXHWU\ 0L[HG :RRG &KLQD &DELQHW

(VWLPDWH

^'LPHQVLRQV [ [ LQFKHV` >NH\@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

0DVVLYH 5HQDLVVDQFH 5HYLYDO *LOW 3LHU 0LUURU

(VWLPDWH

/DWH WK &HQWXU\ 7KH DUFKHG PLUURU SODWH ZLWK D EXUQLVKHG JLOW DUFK IRUP SHGLPHQW FHQWHULQJ D VW\OL]HG IORUDO VSUD\ VXUPRXQWHG E\ DQ XUQ KXQJ ZLWK D ODXUHO OHDI JDUODQG VXSSRUWHG RQ WZLQ &RULQWKLDQ FROXPQDU VWLOHV IDVKLRQHG DV VWDIIV WKH PLUURU SODWH ZLWK DQ LQFLVHG DQWKHQLRP OHDIWLS EDQG VXUURXQG MRLQHG E\ KRUL]RQWDO PROGHG UDLO ^'LPHQVLRQV [ [ LQFKHV`

.LQGHO :LQWHUWKXU 0DKRJDQ\ ,QODLG 6LGHERDUG

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

*HRUJH ,,, ,QODLG 2DN :HOVK 'UHVVHU

^'LPHQVLRQV [ [ LQFKHV`

&RQWLQHQWDO %DURTXH 2DN &RIIHU

(VWLPDWH

3UREDEO\ ,WDOLDQ WK WK &HQWXU\ 7KH KLQJHG UHFWDQJXODU PROGHG WRS ILWH ZLWK LURQ EUDFNHWV DERYH D SDQHOHG FDVH RYHUDOO GHFRUDWHG ZLWK FDUYHG IORUDO DUDEHVTXHV ^'LPHQVLRQV [ [ LQFKHV` >7ZR EDFN IRRW SDQHOV RII RI SLHFH@

(VWLPDWH

*HRUJLDQ 0DKRJDQ\ *DPHV 7DEOH

ZLWK OHDWKHU WRS ^'LPHQVLRQV [ [ LQFKHV` >ORVVHV WR OHJ@

&DPSDLJQ 6W\OH 'HVN

^'LPHQVLRQV [ [ LQFKHV` >NH\@

(VWLPDWH

*HRUJLDQ &KLSSHQGDOH 6ODQW 7RS 2DN 'HVN

(VWLPDWH

^'LPHQVLRQV [ [ LQFKHV` >NH\@

*HRUJH ,, &KHVW RQ &KHVW

^'LPHQVLRQV [ [ LQFKHV` >NH\@

(VWLPDWH

*HRUJLDQ 2DN 7DOO &DVH &ORFN

(VWLPDWH

-RVHSK 3D[WRQ +LJKDP )HUUHUV ^'LPHQVLRQV [ [ LQFKHV` >ORVVHV DQG UHSDLUV WR KRRG@ >SHQGXOXP RQH ZHLJKW@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

*HRUJH ,,, 6W\OH 0DKRJDQ\ 6HFUHWDU\ %RRNFDVH

(VWLPDWH

WK &HQWXU\ 7KH FDQWHG XSSHU VHFWLRQ ZLWK DQ RXW VZHSW PROGHG SHGLPHQW RYHU D VSDQGUHO GHQWLO PROGHG IULH]H RYHU WKH WZLQ DVWUDJDO JOD]HG GRRUV WKH ERWWRP VHFWLRQ FRQVLVWLQJ RI KLQJHG UHFWDQJXODU WRS RSHQLQJ WR UHYHDO D ILWWHG LQWHULRU RYHU DQ DUUDQJHPHQW RI WZR VLGH E\ VLGHV RYHU WKUHH ORQJ JUDGXDWHG GUDZHUV UDLVHG RQ D SODWIRUP EDVH ZLWK EORFN IHHW ^'LPHQVLRQV [ [ ` >6PDOO ORVVHV WR YHQHHU DQG WULP@ >NH\@

:DOODFH 1XWWLQJ &KDLU

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

)HGHUDO 6W\OH *LOWZRRG (DJOH )RUP 3ODTXH

^+HLJKW OHQJWK LQFKHV`

$QJOR ,QGLDQ 7HD 7DEOH LQ WKH 5HJHQF\ VW\OH FLUFD

^'LPHQVLRQV KHLJKW LQFKHV GLDPHWHU RI WDEOH WRS LQFKHV`

(VWLPDWH

:HOVK 2DN 'URS /HDI +DUYHVW 7DEOH WK &HQWXU\

(VWLPDWH

^'LPHQVLRQV [ [ LQFKHV`

7KUHH /DQFDVKLUH $UPFKDLUV

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

0DKRJDQ\ 3HGHVWDO 3ODQW 6WDQG

(VWLPDWH

^+HLJKW LQFKHV ZLGWK LQFKHV`

$DURQ :LOODUG 7DYHUQ &ORFN

^+HLJKW LQFKHV GLDPHWHU RI IDFH LQFKHV` >FUDQN@

(VWLPDWH

9LFWRULDQ -RVHSK )LWWHU 7HOHVFRSLF 0HFKDQLVP :DOQXW 7DEOH %LUPLQJKDP 0LG WK &HQWXU\

(VWLPDWH

^'LPHQVLRQV [ [ LQFKHV ZLGWK RI OHDI LQFKHV` >RQH OHDI FUDQN@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

*HRUJH 6WHFN &R 'XR $UW *UDQG 3OD\HU 3LDQR

2DN 5ROO 7RS 'HVN DQG 6ZLYHO &KDLU

$HROLDQ 1HZ <RUN VHULDO QXPEHU HQVXLWH ZLWK DSSUR[LPDWHO\ RQH KXQGUHG ILIW\ %URDGZD\ DQG SRSXODU PXVLF SOD\HU UROOV ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

^'LPHQVLRQV RI GHVN [ [ LQFKHV FKDLU [ [ LQFKHV`

(VWLPDWH

0DUEOH 7RS 'UHVVHU ZLWK 0LUURU

7KUHH 6WDFN *OREH :HUQLFNH %DUULVWHU &DELQHW

DQG WZR JORYH ER[HV ^'LPHQVLRQV [ [ LQFKHV` >ORVVHV WR ILQLDO RI FURZQ@

(VWLPDWH

ZLWK OHDGHG JODVV FRPSULVLQJ WZR ' JUDGH FRPSRQHQWV DQG RQH ' JUDGH ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

3DLU RI 0DUEOH 7RS 1LJKW 6WDQGV

:RRGHQ DQG *LOW %UDVV 6KLS V :KHHO

^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

^'LPHQVLRQV KHLJKW LQFKHV GLDPHWHU RI ZKHHO LQFKHV`

(VWLPDWH

(GZDUGLDQ 0DKRJDQ\ /LEUDU\ 7DEOH

$UWV DQG &UDIWV &XWRXW 3LFWRULDO DQG 6ODJ *ODVV /DPS &KLFDJR /DPS &R

^'LPHQVLRQV [ [ LQFKHV`

^+HLJKW LQFKHV GLDPHWHU RI VKDGH LQFKHV` 7KLV ORW LV EHLQJ VROG WR EHQHILW 7KH 8QLYHUVLW\ RI 6DQ )UDQFLVFR >VPDOO EUHDN SLHFH NHSW VHSDUDWH@

(VWLPDWH

(VWLPDWH

2DN &DVHG 9LFWRU 9LFWUROD 3KRQRJUDSK

$IWHU $XJXVWH 0RUHDX

$UW 1RXYHDX )LJXUDO 0HWDO /DPS

VHULDO QXPEHU ( ^'LPHQVLRQV LQFKHV [ LQFKHV [ LQFKHV`

(VWLPDWH

LQVFULEHG $XJXVWH 0RUHDX FRS\ULJKW E\ ' - 5 ^+HLJKW LQFKHV` 7KLV ORW LV EHLQJ VROG WR EHQHILW 8QLYHUVLW\ RI 6DQ )UDQFLVFR

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

+DQGHO %HOO )RUP 0HWDO )ORRU /DPS

,QGLDQ 6HDWHG %RGKLVDWWYD 6FXOSWXUH

^+HLJKW LQFKHV ZLGWK LQFKHV`

(VWLPDWH

^+HLJKW LQFKHV OHQJWK LQFKHV`

(VWLPDWH

-DSDQHVH %URQ]H (OHSKDQW 8UQ %DVHG /DPS

/DUJH $PHWK\VW *HRGH 6SHFLPHQ

ZLWK DVVRFLDWHG PRVDLF WLOHG VKDGH ^+HLJKW LQFKHV GLDPHWHU RI VKDGH LQFKHV`

(VWLPDWH

^+HLJKW LQFKHV`

(VWLPDWH

$UW 'HFR 2DN 6LGHERDUG

&RQWHPSRUDU\ ,WDOLDQ 'HPD 6RID

^'LPHQVLRQV [ [ LQFKHV`

ZLWK )RUWXQ\ VW\OH IORUDO XSKROVWHU\ ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

(VWLPDWH

2OVHQ 1ROWH 6LOYHU 3DUDGH 6DGGOH

'DQLVK 7HDN 9HQHHUHG 7ZLQ 3HGHVWDO 'HVN

ZLWK EURZQ IORUDO LPSUHVVHG OHDWKHU DQG VWHUOLQJ VLOYHU SDUDGH ZLWK WDSDGHURV DQG VWLUUXSV FLUFD V PDGH IRU *X\ 6WDQWRQ E\ WKH PDQXIDFWXUHU ^/HQJWK RI VHDW LQFKHV`

(VWLPDWH

ZLWK WZR SXOO RXW ZULWLQJ VXUIDFHV RQ VROLG WHDN OHJV ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

:HVWHUQ +RUQ 3RQ\ +LGH 8SKROVWHUHG &KDLU

+DQV :HJQHU 3DSD %HDU &KDLU DQG $VVRFLDWHG 2WWRPDQ

^+HLJKW LQFKHV ZLGWK LQFKHV`

(VWLPDWH

WKH FKDLU ZLWK RULJLQDO XSKROVWHU\ DQG IRDP ILOO ^'LPHQVLRQV RI FKDLU [ [ LQFKHV RWWRPDQ [ LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&KLQHVH 6LON 5XJ ZLWK *UDSH 9LQH 0RWLI

/LOOLKDQ &DUSHW

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

^6L]H DSSUR[LPDWHO\ IHHW LQFK [ IHHW`

(VWLPDWH

(VWLPDWH

&KLQHVH :RRO 5XJ

.KRUUDVVDQ &DUSHW

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW [ IHHW`

(VWLPDWH

7ZR &KLQHVH 5XJV (DFK ZLWK 7ZR 0HGDOOLRQV

7XUNLVK &DUSHW

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

^$SSUR[LPDWH VL]H RI ODUJHU IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV IDGLQJ@

(VWLPDWH

(VWLPDWH

&KLQHVH &DUSHW

7ZR 7LEHWDQ )ORRU 5XJV

^6L]H DSSUR[LPDWHO\ IHHW [ IHHW LQFKHV`

(VWLPDWH

^$SSUR[LPDWH VL]H RI ODUJHU IHHW [ IHHW LQFKHV` >ORVVHV@

(VWLPDWH

&KLQHVH 3LFWRULDO 5XJ

7ZR .KRWDQ 5XJV

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

^$SSUR[LPDWH VL]H RI ODUJHU IHHW LQFK [ IHHW LQFKHV` >ORVVHV UHERXQG@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7ZR .KRWDQ 5XJV

%RNKDUD &DUSHW

^$SSUR[LPDWH VL]H RI ODUJHU IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV UHERXQG@

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

1LQJ[LD 5XJ

$IJKDQ 5XJ

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW`

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

/DYDU .HUPDQ &DUSHW

$IJKDQ 5XJ

^6L]H $SSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV ODUJH KROH@

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW [ IHHW LQFKHV`

(VWLPDWH

$QWLTXH .KDPVHK 5XJ

3DNLVWDQL 5XQQHU 3HUVLDQ +HULWDJH 'HVLJQ

ZLWK DQLPDOV ^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

3DNLVWDQL 5XQQHU 3HUVLDQ KHULWDJH GHVLJQ

6HUDE 5XQQHU

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV@

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

6DURXN &DUSHW

$IVKDU 6DGGOHEDJ

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV@

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IRRW LQFKHV`

(VWLPDWH

+HUL] &DUSHW

/RW RI 6L[ 3LOORZV PRVWO\ NLOLPV

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW`

(VWLPDWH

^$SSUR[LPDWH VL]H RI ODUJHVW [ LQFKHV`

(VWLPDWH

%HOXFK 3UD\HU 5XJ

7ZR 7XUNLVK .LOLP 5XJV

ZLWK WUHH RI OLIH GHVLJQ ^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

^$SSUR[LPDWH VL]H RI ODUJHVW IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

0D]DU L 6KDULI $IJKDQHVL 5XJ

7XUNRPDQ 5XJ

^6L]H DSSUR[LPDWHO\ IHHW [ IHHW LQFKHV`

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

7ULEDO 3HUVLDQ )ODW :HDYH 5XJ

%LGMDU &DUSHW

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV` >ORVVHV DQG UHSDLUV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7ZR %HORXFK 6DGGOHEDJ 3LOORZV DQG D 3HUVLDQ 7H[WLOH 3LOORZ &RYHU

)LYH 6WHUOLQJ 6LOYHU &KLOGUHQ V 7DEOHZDUHV

^$SSUR[LPDWH VL]H RI 3HUVLDQ SLOORZ FRYHU [ LQFKHV`

(VWLPDWH

(VWLPDWH

$QWLTXH 4DVKTDL .LOLP 5XJ

*URXS RI 6WHUOLQJ DQG 6LOYHU 7DEOH $UWLFOHV

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

(VWLPDWH

&RPSULVLQJ D *RUKDP SUHVHQWDWLRQ GLVK LQVFULEHG /HWD $QQ ^GLDPHWHU LQFKHV` D 5HHG %DUWRQ ERZO ZLWK D GXFN ERUGHU D /D 3LHUUH ERZO DQ ,QWHUQDWLRQDO EDE\ FXS LQVFULEHG /HWD $QQ DQG D *RUKDP SRUULQJHU ^7RWDO VLOYHU ZHLJKW WUR\ R]`

(VWLPDWH

$QWLTXH 4DVKTDL .LOLP 5XJ

&RPSULVLQJ D VWHUOLQJ FUHDPHU DQG VXJDU ^KHLJKW LQFKHV` D - 6 &R JODVV MDP MDU ZLWK VWHUOLQJ OLG DQG VSRRQ D VLOYHU SODWH PRXQWHG KDQG SDLQWHG PLON JODVV ELVFXLW MDU ^KHLJKW LQFKHV` D SDLU RI FXW JODVV VDOW DQG SHSSHU VKDNHUV ZLWK VWHUOLQJ OLGV D SDLU RI *RUKDP VWHUOLQJ VXJDU WRQJV D VWHUOLQJ VHDIRRG IRUN DQG IRXU XQPDUNHG ,ULVK VLOYHU WHD FDGG\ VSRRQV

^7RWDO ZHLJKDEOH VLOYHU WUR\ R]`

^6L]H DSSUR[LPDWHO\ IHHW LQFKHV [ IHHW LQFKHV`

3DLU RI 6LOYHU 3ODWHG )LYH /LJKW &DQGHODEUD ^+HLJKW LQFKHV` >ORVVHV WR RQH V FHQWUDO FDQGOH FXS HDFK ODFNLQJ ERWWRP SODWHV@

(VWLPDWH

4DVKTDL .LOLP 5XJ

^6L]H DSSUR[LPDWHO\ IHHW [ IHHW LQFKHV`

(VWLPDWH

/DUJH &ROOHFWLRQ RI :DOODFH %DURTXH 6LOYHU 3ODWHG 6HUYLQJ 3LHFHV 7HD $UWLFOHV

(VWLPDWH

3DLU RI 0XHFN 6WHUOLQJ :HLJKWHG 7KUHH /LJKW &DQGHODEUD

(VWLPDWH

^+HLJKW LQFKHV ZLGWK LQFKHV`

&RPSULVLQJ D VHYHQ SLHFH WHD DQG FRIIHH VHUYLFH ZLWK KRW ZDWHU NHWWOH DQG EXUQHU ^KHLJKW RQ VWDQG LQFKHV` FRIIHH SRW WHD SRW FUHDPHU VXJDU VSODW ERZO DQG WUD\ ^OHQJWK LQFKHV` FUHDPHU DQG VXJDU ZLWK XQGHU WUD\ SDLU RI WKUHH OLJKW FDQGHODEUD WZR VKHOO IRUP UHOLVK GLVKHV VKHOO IRUP VHUYLQJ ERZO FRPSRWH RYDO IRRWHG FHQWHU ERZO UHFWDQJXODU WUD\ WZR VHUYLQJ SODWHV ^GLDPHWHU LQFKHV` DQG D UHWLFXODWHG FRRNLH SODWWHU

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

/DUJH &ROOHFWLRQ RI :DOODFH %DURTXH 6LOYHU 3ODWHG 6HUYLQJ 3LHFHV

(VWLPDWH

&RPSULVLQJ D SDLU RI WKUHH OLJKW FDQGHODEUD ^KHLJKW LQFKHV` ODUJH FKDILQJ GLVK ^OHQJWK LQFKHV` FKDPSDJQH EXFNHW LQVXODWHG FRYHUHG LFH FUHDP GLVK SLWFKHU ODGOH JUDY\ ERDW ZLWK XQGHU WUD\ WZR EXWWHU GLVKHV WZR FRYHUHG VHUYLQJ GLVKHV WZR PHDW SODWWHUV ^ODUJHVW OHQJWK LQFKHV` WZR RYDO VHUYLQJ ERZOV RYDO IRRWHG VHUYLQJ ERZO VHUYLQJ GLVK ZLWK WKUHH ZHOOV VLQJOH VKDNHU DQG D VDOW FHOODU ZLWK EOXH JODVV OLQHU DQG VSRRQ

(QJOLVK 6WHUOLQJ 2YDO 3ODWWHU ZLWK *DGURRQ %RUGHU DQG 'UDJRQ &UHVW -* 0DNHU 0DUN ^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK LQFKHV`

(VWLPDWH

&ROOHFWLRQ RI (QJOLVK 6LOYHU 6HUYLQJ 8WHQVLOV

(QJOLVK 3ODWHG +RW :DWHU .HWWOH RQ 6WDQG DQG 7HDSRW

(VWLPDWH

WRJHWKHU ZLWK D VWHUOLQJ PRQRJUDPPHG FUHDPHU DQG VXJDU UHWDLOHG E\ 6KUHYH ^KHLJKW RI NHWWOH RQ VWDQG LQFKHV KHLJKW RI FUHDPHU LQFKHV` >UHSDLUV DQG VPDOO ORVVHV WR VXJDU VPDOO ORVVHV WR FUHDPHU DQG NHWWOH VWDQG NHWWOH VWDQG ODFNLQJ EXUQHU@

(QJOLVK (GZDUGLDQ 6WHUOLQJ 6LOYHU &DVHG &RQGLPHQW 6HW -RKQ :LOOLDP 'HDNLQ &KHVWHU &LUFD

(VWLPDWH

&RPSULVLQJ IRXU VKDNHUV ^KHLJKW LQFKHV` WZR FRYHUHG PXVWDUG MDUV DQG IRXU RSHQ VDOW FHOODUV ZLWK DVVRFLDWHG FREDOW EOXH JODVV LQVHUWV DQG VSRRQV ^RQH FHOODU ODFNLQJ VSRRQ` DOO FDVW RQ SDG IHHW WKH OHDWKHU FDVH LQ VKDSH RI D VKHOO

^7RWDO VLOYHU ZHLJKW WUR\ R]`

(QJOLVK 6WHUOLQJ 6LOYHU )ODWZDUH 6HUYLFH 6DPXHO +D\QH 'XGOH\ &DWHU FLUFD

(VWLPDWH

(VWLPDWH

&RPSULVLQJ D SDLU RI JLOW ZDVKHG EHUU\ VSRRQV ^OHQJWK LQFKHV` D VHW RI VL[ WHDVSRRQV ^OHQJWK LQFKHV` DQG VHUYLQJ VSRRQ DQG D ODGOH WRJHWKHU ZLWK D VWHUOLQJ 6 .LUN 6RQ IRUN DQG GHPLWDVVH VSRRQ

^7RWDO VLOYHU ZHLJKW WUR\ R]`

7XUNLVK 1LHOOR 6LOYHU &LJDUHWWH %R[ RI UHFWDQJXODU IRUP LQODLG ZLWK 7XUNLVK VXOWDQV FRDW RI DUPV WKH UHYHUVH ZLWK D IORUDO ERXTXHW VFULSW PDUN &LUFD ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

&ROOHFWLRQ RI *HUPDQ 6WHUOLQJ )ODWZDUH

&RPSULVLQJ D PRQRJUDPPHG VHW RI IRXU WDEOHVSRRQV ^OHQJWK LQFKHV` DQG IRXU GLQQHU NQLYHV IRXU VLOYHU WHDVSRRQV DQG ILYH FRLQ VLOYHU WDEOHVSRRQV

^7RWDO ZHLJKDEOH VLOYHU WUR\ R]`

(VWLPDWH

&RPSULVLQJ VL[ GLQQHU IRUNV ^OHQJWK LQFKHV` VL[ VDODG IRUNV VL[ SODFH VSRRQV VL[ WDEOHVSRRQV ^OHQJWK LQFKHV` DQG D VHUYLQJ VSRRQ ^OHQJWK LQFKHV` WRJHWKHU ZLWK DVVRFLDWHG VHW RI VLOYHU SODWHG NQLYHV LQFOXGLQJ VL[ GLQQHU NQLYHV ^OHQJWK LQFKHV` DQG VL[ OXQFKHRQ NQLYHV

^7RWDO VLOYHU ZHLJKW WUR\ R]` >ZLWK VLOYHU FKHVW@

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

5XVVLDQ 6WDQGDUG 6LOYHU 3XUVH ZLWK *LOW $SSOLTXH 6FULSW

(VWLPDWH

0RVFRZ

7KH UHFWDQJXODU IRUP WKH IURQW FRYHU HQJUDYHG ZLWK DQ RYDO PHGDOOLRQ HQJUDYHG ZLWK DUFKLWHFWXUDO HOHPHQWV VXFK DV *UHHN NH\ DQG SHEEOH SDQHOV ILWWHG ZLWK D FKDLQ OLQN KDQGOH WKH LQWHULRU ILWWHG ZLWK JUHHQ VLON WULSDUWLWH ZDOOHW WKH UHYHUVH LQVFULEHG LQ &\ULOOLF %HWLOH &DUO GHWV ^7RWDO 6LOYHU :HLJKW WUR\ R] OHQJWK LQFKHV`

6XLWH RI *RUKDP 6RYHUHLJQ 6WHUOLQJ )ODWZDUH

&RPSULVLQJ HLJKW GLQQHU IRUNV ^OHQJWK LQFKHV` HLJKW GLQQHU NQLYHV ^OHQJWK LQFKHV` HLJKW WDEOHVSRRQV ^OHQJWK LQFKHV` DQG WZHOYH WHDVSRRQV ^OHQJWK LQFKHV`

^7RWDO ZHLJKDEOH VLOYHU WUR\ R]`

(VWLPDWH

6XLWH RI 6HYHQWHHQ *RUKDP 3RSS\ 6WHUOLQJ 6SRRQV

&RPSULVLQJ VL[ WHDVSRRQV ^OHQJWK LQFKHV` DQG HOHYHQ GHPLWDVVH VSRRQV ^OHQJWK LQFKHV` ^7RWDO VLOYHU ZHLJKW WUR\ R]`

/DUJH &KLQHVH ([SRUW 6LOYHU 'UHVVHU 6HW

(VWLPDWH

1DQNLQJ (DUO\ WK &HQWXU\ (DFK SLHFH FKDVHG DQG ZLWK D UHSRXVVH IORZHULQJ SUXQXV GHFRUDWLRQ PRVW SLHFHV FDVW ZLWK D VSDUURZ RQ D SUXQXV EUDQFK FHQWHULQJ UDLVHG FLUFXODU PHGDOOLRQV ZLWK D PRQRJUDP 06 WKH VHW FRPSULVLQJ D ODUJH KDQG PLUURU WZR EUXVKHV WZR FLUFXODU DQG RQH UHFWDQJXODU GUHVVHU ER[HV D VKRH KRUQ D EXWWRQ KRRN D FRPE D VPDOO WUD\

DOO SLHFHV ZLWK VWDPSHG PDUNV VHYHUDO PDUNHG 1. DQG 1DQNLQJ ZLWK FDOOLJUDSKLF PDUNV ^7RWDO ZHLJKDEOH VLOYHU WUR\ R]`

(VWLPDWH

6XLWH RI 7ZHQW\ 7ZR :KLWLQJ /LO\ 6WHUOLQJ 'HPLWDVVH 6SRRQV

&RPSULVLQJ WZR VHWV RI HOHYHQ HDFK RQH VHW PRQRJUDPPHG 0 ^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK LQFKHV`

(VWLPDWH

:KLWLQJ 6WHUOLQJ %RZO 7RJHWKHU ZLWK 6L[WHHQ 6WHUOLQJ 7HDVSRRQV

3DLU RI 7LIIDQ\ 6WHUOLQJ :LQH 7DVWLQJ &XSV DQG D )UDQN 6PLWK 6WHUOLQJ &KLSSHQGDOH 7ZR 6HFWLRQ 'LVK

^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK RI GLVK LQFKHV OHQJWK RI FXSV LQFKHV`

(VWLPDWH

(VWLPDWH

&RPSULVLQJ HLJKW *RUKDP WHDVSRRQV WZR PRQRJUDPPHG DQG IRXU 'XUJLQ LQ D VLPLODU SDWWHUQ LQFOXGLQJ WZR PRQRJUDPPHG WRJHWKHU ZLWK D :KLWHILHOG +RXVH VRXYHQLU VSRRQ DQG *RUKDP GHPLWDVVH VSRRQV ZLWK PRQRJUDP

^7RWDO VLOYHU ZHLJKW WUR\ R]`

'RPLQLFN +DII $PHULFDQ 6WHUOLQJ WK $QQLYHUVDU\ 3UHVHQWDWLRQ %DVNHW

,QVFULEHG DQG PRQRJUDPPHG ^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7HQ 6WHUOLQJ 6LOYHU 6DOW 6KDNHUV

6HW RI 7ZHOYH :DOODFH 6WHUOLQJ 6RXS 6SRRQV LQ WKH 9LROHW 3DWWHUQ

&RPSULVLQJ WZR FDVHG VHWV RI IRXU *RUKDP VKDNHUV DQG WZR RWKHUV ^7RWDO VLOYHU ZHLJKW WUR\ R] KHLJKW RI WDOOHVW LQFKHV`

(VWLPDWH

HDFK PRQRJUDPPHG ^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK LQFKHV`

(VWLPDWH

6HW RI 7ZHOYH *RUKDP 5HWLFXODWHG 6WHUOLQJ 1XW 'LVKHV

*RUKDP &DPHOOLD 6WHUOLQJ 6LOYHU )ODWZDUH 6HUYLFH

^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK RI HDFK LQFKHV`

(VWLPDWH

(VWLPDWH

*RUKDP &KDQWLOO\ 6WHUOLQJ 6LOYHU )ODWZDUH 6HUYLFH 5HWDLOHG E\ 0RQWJRPHU\ %URWKHUV &LUFD PRQRJUDPPHG

(VWLPDWH

&RPSULVLQJ WZHOYH GLQQHU IRUNV ^OHQJWK LQFKHV` WZHOYH OXQFKHRQ IRUNV ^OHQJWK LQFKHV` WZHOYH VDODG IRUNV WZHOYH GLQQHU NQLYHV ^OHQJWK LQFKHV` WZHOYH OXQFKHRQ NQLYHV HOHYHQ WHDVSRRQV WZHOYH WDEOHVSRRQV ^OHQJWK LQFKHV` WZHOYH VRXS VSRRQV WZHOYH IODW EXWWHU NQLYHV WKUHH SODFH VSRRQV ^OHQJWK LQFKHV` DQG D FDVVHUROH VSRRQ

^7RWDO ZHLJKDEOH VLOYHU WUR\ R]`

7ZHOYH *RUKDP 5R\DO 2DN 6WHUOLQJ )RUNV 7RJHWKHU :LWK (OHYHQ $VVRFLDWHG :DOODFH 6WHUOLQJ +DQGOH .QLYHV

^7RWDO ZHLJKDEOH VLOYHU WUR\ R] OHQJWK RI IRUN LQFKHV`

(VWLPDWH

'XQNHUN $PHULFDQ 6WHUOLQJ )LYH 3LHFH )ORUDO 5HSRXVVH 7HD 6HUYLFH

&RPSULVLQJ D FRIIHH SRW ^KHLJKW LQFKHV` WHDSRW ^KHLJKW LQFKHV` ZDVWH ERZO FUHDPHU DQG VXJDU ZLWK D 5RJHUV VLOYHU SODWHG WUD\ ^OHQJWK LQFKHV`

^7RWDO VLOYHU ZHLJKW WUR\ R]`

6XLWH RI (OHYHQ 6 .LUN 6RQ )ORUDO 5HSRXVVH 6RXS 6SRRQV DQG RQH WHDVSRRQ PRQRJUDPPHG 0

^7RWDO VLOYHU ZHLJKW WUR\ R] OHQJWK RI VRXS VSRRQV LQFKHV`

&RPSULVLQJ HLJKW GLQQHU IRUNV ^OHQJWK LQFKHV` HLJKW GLQQHU NQLYHV ^OHQJWK LQFKHV` HLJKW VDODG IRUNV ^OHQJWK LQFKHV` HLJKW VRXS VSRRQV HLJKW WHDVSRRQV HLJKW EUHDG NQLYHV HLJKW VHDIRRG IRUNV WKUHH SODFH VSRRQV ^OHQJWK LQFKHV`

^7RWDO ZHLJKDEOH VLOYHU WUR\ R]` >ZLWK VLOYHU FKHVW@

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7RZOH 6WHUOLQJ 6LOYHU 3ODWWHU

0DU\ *UHJRU\ $UW *ODVV 'UHVVHU %R[

^7RWDO VLOYHU ZHLJKW WUR\ R] GLDPHWHU LQFKHV`

(VWLPDWH

ZLWK WZR NH\V ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

&ROOHFWLRQ RI %RKHPLDQ &UDQEHUU\ (WFKHG *ODVV

%RKHPLDQ *LOW 'HFRUDWHG 2SDTXH :KLWH &XW WR &REDOW 6LOYHU 7D]]D

&RPSULVLQJ VHYHQ GULQNLQJ JODVVHV ^KHLJKW LQFKHV` DQG HLJKW ILQJHU ERZOV GHFRUDWHG E\ GHHU WRJHWKHU ZLWK ILYH DVVRFLDWHG LWHPV LQFOXGLQJ WZR MDUV ^RQH ZLWK FKLS WDOOHVW LQFKHV` GHFDQWHU ZLWK FXS DQG DQ XUQ

(VWLPDWH

^+HLJKW LQFKHV GLDPHWHU LQFKHV`

(VWLPDWH

*URXS RI &U\VWDO DQG &XW *ODVV 7DEOH $UWLFOHV

6XLWH RI :DWHUIRUG &U\VWDO 6WHPZDUH

&RPSULVLQJ HLJKW FXW JODVV SODWHV ILYH ZLQH KRFNV ^KHLJKW LQFKHV` RQH EOXH JODVV ZLQH KRFN GHFDQWHU FUHDPHU DQG VXJDU FDQG\ GLVK ODUJH ERZO ^GLDPHWHU LQFKHV` DQG D YDVH

>VPDOO ORVVHV@

(VWLPDWH

&RPSULVLQJ VHYHQ ZLQH KRFNV ^KHLJKW LQFKHV` HLJKW EUDQG\ VLIWHUV ^KHLJKW LQFKHV` HLJKW ZLQH JODVVHV ^KHLJKW LQFKHV` DQG HLJKW IRRWHG VXQGDH FXSV

(VWLPDWH

&RQWHPSRUDU\ 3DLU RI /RXLV ;9, 6W\OH 0DVVLYH 5XE\ )ODVKHG *ODVV 8UQV

6XLWH RI %DFFDUDW 1DQF\ &U\VWDO 6WHPZDUH

&RPSULVLQJ VHYHQ UHG ZLQH JODVVHV ^KHLJKW LQFKHV` IRXUWHHQ ZKLWH ZLQH SLHFHV ^KHLJKW LQFKHV` DQG HOHYHQ FODUHWV ^KHLJKW LQFKHV`

ZLWK JLOW EUDVV PRXQWV ^+HLJKW LQFKHV`

(VWLPDWH

(VWLPDWH

1LQD 5LFFL /DOLTXH / $LU 'X 7HPSV 3HUIXPH %RWWOH

6L[ 3LHFHV RI 0XUDQR DQG $UW *ODVV

^+HLJKW LQFKHV`

(VWLPDWH

&RPSULVLQJ D IUHH IRUP VFXOSWXUH ZLWK 0XUDQR VWLFNHU 0RVHU YDVH .RVWD %RGD EOXH DQG DPEHU JODVV YDVH 2UUHIRUV YDVH 0XUDQR JODVV MXJ ^KHLJKW LQFKHV` DQG VWULSHG JODVV YDVH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

7KUHH 6WHXEHQ &U\VWDO ,WHPV

7KUHH 6WHXEHQ &U\VWDO )LJXUHV

&RPSULVLQJ WZR FHQWHU ERZOV DQG YDVH VLJQHG 6+6 ^'LDPHWHU RI ODUJHVW ERZO LQFKHV KHLJKW RI YDVH LQFKHV`

(VWLPDWH

LQFOXGLQJ D IURJ ^OHQJWK LQFKHV` D EHDYHU DQG D VQDLO

(VWLPDWH

7KUHH 6WHXEHQ &U\VWDO )UXLW

)LYH 6WHXEHQ &U\VWDO $QLPDO )LJXUHV

^/HQJWK RI JUDSH EXQFK LQFKHV KHLJKW RI SHDU LQFKHV`

(VWLPDWH

,QFOXGLQJ D EHDU NRDOD ^KHLJKW LQFKHV` WZR UDEELWV ^OHQJWK RI ODUJHVW LQFKHV` DQG D FDW

(VWLPDWH

6WHXEHQ &U\VWDO 3HOLFDQ 6LJQHG 6+6

6WHXEHQ &U\VWDO )LJXUH RI $ 'LQRVDXU 'HVLJQHG %\ 'DYLG +LOOV

^+HLJKW LQFKHV`

^/HQJWK ,QFKHV`

(VWLPDWH

(VWLPDWH

7KUHH &U\VWDO %LUG )LJXUHV

6WHXEHQ &U\VWDO 3RODU %HDU DQG +LSSRSRWDPXV

,QFOXGLQJ 7ZR 6WHXEHQ 3HQJXLQV DQG D %DFFDUDW 'RYH ^+HLJKW RI WDOOHVW SHQJXLQ LQFKHV` >FKLS WR EHDN RI RQH SHQJXLQ@

(VWLPDWH

^/HQJWK RI SRODU EHDU LQFKHV KLSSRSRWDPXV LQFKHV`

(VWLPDWH

6WHXEHQ &U\VWDO %LUG DQG 0RXVH

)RXU &DSRGLPRQWH 6W\OH 'L 3LHWUR 1DSROHRQLF 6ROGLHU )LJXUHV

^+HLJKW RI ELUG LQFKHV` >ORVVHV WR ELUG@

(VWLPDWH

^+HLJKW RI WDOOHVW LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

6SRGH &RSHODQG ,QGLDQ 7UHH 'LQQHU 6HUYLFH

:HGJZRRG 0RVV 5RVH &KLQD 6HUYLFH

&RPSULVLQJ ILIWHHQ GLQQHU SODWHV ^GLDPHWHU LQFKHV` WZHQW\ RQH VDODG SODWHV ^GLDPHWHU LQFKHV` HOHYHQ EUHDG SODWHV ^GLDPHWHU LQFKHV` WKUHH IUXLW ERZOV WKLUWHHQ WHDFXSV DQG WZHOYH VDXFHUV >RQH FKLSSHG@

(VWLPDWH

(VWLPDWH

&RPSULVLQJ ILIWHHQ GLQQHU SODWHV ^GLDPHWHU LQFKHV` WZHOYH VDODG SODWHV ^GLDPHWHU LQFKHV` WZHOYH EUHDG SODWHV WZHOYH VRXS ERZOV WZHOYH IUXLW ERZOV ILIWHHQ WHDFXSV HLJKWHHQ VDXFHUV FUHDPHU VXJDU JUDY\ ERDW DQG XQGHUWUD\ VHUYLQJ ERZO ^GLDPHWHU LQFKHV` FRYHUHG WXUHHQ ZLWK WZLQ UDP V KHDG KDQGOHV DQG WZR JUDGXDWHG SODWWHUV ^ODUJHVW LQFKHV`

/HQR[ $QQDSROLV %OXH 'HVVHUW 6XLWH &RPSULVLQJ WZHOYH FDNH SODWHV ^GLDPHWHU LQFKHV` WZHOYH WHDFXSV DQG WZHOYH VDXFHUV

0HLVVHQ %OXH )ORUDO 2YDO 3ODWWHU ^/HQJWK LQFKHV`

(VWLPDWH

6HW RI 5LFKDUG *LQRUL &KLQD

(VWLPDWH

&RPSULVLQJ WZHOYH GLQQHU SODWHV ^GLDPHWHU LQFKHV` HLJKW VRXS ERZOV WZHOYH EUHDG SODWHV ^GLDPHWHU LQFKHV` WZHOYH VDODG SODWHV WHQ WHDFXSV DQG QLQH VDXFHUV

&ROOHFWLRQ RI %DYDULDQ DQG 1LSSRQ 'LVKHV 7RJHWKHU ZLWK D 6HW RI 7KHRGRUH +DYLODQG /LPRJHV &KLQD 6HUYLQJ 3LHFHV

(VWLPDWH

6HW RI :HGJZRRG &KDUQZRRG %RQH &KLQD

(VWLPDWH

&RPSULVLQJ WKLUWHHQ GLQQHU SODWHV ^GLDPHWHU LQFKHV` WKLUWHHQ VDODG SODWHV ^GLDPHWHU LQFKHV` WKLUWHHQ EUHDG SODWHV ^GLDPHWHU LQFKHV` WKLUWHHQ WHDFXSV IRXUWHHQ VDXFHUV SODWWHU ^OHQJWK LQFKHV` FUHDPHU DQG VXJDU

&RPSULVLQJ D (OERJHQ $XVWULDQ WUD\ D 6LOHVD WUD\ DQG ERZO GHFRUDWHG E\ IORZHUV D 3UXVVLDQ VHUYLQJ ERZO ^GLDPHWHU LQFKHV` WZR WUD\V PDUNHG *HUPDQ\ RQH /HXFKWHQEXUJ D 7KRPDV 6HYUHV SODWH DQG D /)+ WUD\ ZLWK WZR DSSOLHG KDQGOHV WZR 1LSSRQ WUD\V DQG YDVH ^KHLJKW LQFKHV` DQG HLJKW /LPRJHV GLVKHV LQFOXGLQJ WZR JUDGXDWHG WUD\V ^OHQJWK RI ORQJHVW LQFKHV` FUHDPHU DQG VXJDU FRYHUHG MDP ERZO UHOLVK ERZO VPDOO WUD\ DQG IRRWHG JUDY\ ERDW

(VWLPDWH

3DLU RI (QJOLVK 3RUFHODLQ )LJXUHV

3DLU RI 6LW]HQGRUI *HUPDQ 3RUFHODLQ 3DUURWV

^+HLJKW LQFKHV` >VPDOO EUHDNV@

^+HLJKW RI WDOOHVW LQFKHV` >VPDOO ORVVHV@

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

0HLVVHQ 3RUFHODLQ )LJXUH 6\PEROLF RI 1LJKW

$UW 1RXYHDX 5R\DO 'X[ (DUWKHQZDUH )LJXUDO &RPSRWH

PDUNHG ^+HLJKW LQFKHV` >EUHDN DQG UHSDLU@

(VWLPDWH

(VWLPDWH

5R\DO %HUOLQ 3RUFHODLQ )LJXUH RI &XSLG ZLWK 'ROSKLQ LQFLVHG ^+HLJKW LQFKHV`

(DUO\ WK &HQWXU\ 0RGHOOHG DV D F\OLQGULFDO WUHH LWV OHDI\ FDQRS\ VSUHDGLQJ RXW WR IRUP D VKDOORZ ZHOO ERZO WKH H[WHULRU VLGHV RI WKH WUD\ ULSH ZLWK IUXLW DGRUVHG E\ WKH HOHJDQWO\ DSSRLQWHG ILJXUH RI D ODG\ LQ D SLQN (PSLUH GUHVV UHDFKLQJ XS WR SLFN DQ DSSOH IURP WKH WUHH WKH YHUVR RI WKH URXQGHG EDVH ZLWK SLQN WULDQJXODU IRUP PDUN LPSUHVVHG SDLQWHG ^+HLJKW LQFKHV`

&ROOHFWLRQ RI (LJKW *HUPDQ 6WHLQV ^+HLJKW RI WDOOHVW LQFKHV` >EUHDN DQG UHSDLU WR JODVV VWHLQ@

(VWLPDWH

0HLVVHQ 3RUFHODLQ )LJXUH 7LWOHG 7H OHV DFFRXSOH

(VWLPDWH

PDUNHG ^+HLJKW LQFKHV` >VPDOO ORVVHV WR ULEERQ@

&ROOHFWLRQ RI 6L[ *HUPDQ 6WHLQV

,QFOXGLQJ D PXVLF ER[ GHFRUDWHG E\ IULDUV ^+HLJKW RI WDOOHVW LQFKHV` >RQH ZLWK UHSDLUHG KDQGOH DQRWKHU ZLWK EURNHQ PRXQW@

(VWLPDWH

0HLVVHQ 3RUFHODLQ )LJXUH RI &XSLG ZLWK %RZ

(VWLPDWH

LQFLVHG & DQG ^+HLJKW LQFKHV` >UHSDLU WR ZLQJ DQG QHFN@

&ROOHFWLRQ RI )LYH 5R\DO 'RXOWRQ 7RE\ 0XJV

,QFOXGLQJ WKH 6PXJJOHU ^KHLJKW LQFKHV` WKH 0LQH +RVW DQG WKUHH RWKHUV

(VWLPDWH

*HUPDQ 3RUFHODLQ )LJXUH RI 3LHG 3LSHU

(VWLPDWH

PDUNHG ^+HLJKW LQFKHV` >ORVVHV WR OHDYHV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

&ROOHFWLRQ RI 9HUQRQ .LOQV +DZDLLDQ )ORZHUV 'LQQHUZDUH 'HVLJQHG E\ $ORKD 'RQ %ODQGLQJ

)UHQFK *LOW %URQ]H )LJXUH RI 8UDQLD

&RPSULVLQJ D VHUYLFH SODWH ^GLDPHWHU LQFKHV` VDODG SODWH WZR ERZOV ^ODUJHVW GLDPHWHU LQFKHV` EXWWHU GLVK WHDSRW DQG FUHDPHU

(VWLPDWH

(VWLPDWH

-DHJHU /H &RXOWUH *LOW %UDVV &DVHG $WPRV 0DQWOH &ORFN

&DVW $IWHU 3LHUUH $OH[DQGUH 6FKRHQHZHUN )UHQFK

7KH ILJXUH RI WKH 0XVH RI $VWURQRP\ FDVW VHDWHG LQ D NOLVPRV EHQFK SDUWLDOO\ FRYHUHG E\ KHU ORQJ GUDSHG WRJD SRLQWLQJ WR WKH JOREH E\ KHU OHJV LQVFULEHG 6FKRHQHZHUN ^+HLJKW LQFKHV OHQJWK LQFKHV`

$IWHU /RXLV 6LPRQ %RL]RW )UHQFK %URQ]H RI 1DSROHRQ LQVFULEHG 3DULV %RL]RW

ZLWK SUHVHQWDWLRQ LQVFULSWLRQ ^'LPHQVLRQV [ [ LQFKHV`

^+HLJKW LQFKHV`

(VWLPDWH

(VWLPDWH

(UQHVWR %DWWLJOLD ,WDOLDQ WK &HQWXU\ 0DUEOH *URXS RI DQ (J\SWLDQ 5HYLYDO /DG\

*DOOH 6W\OH 0DUTXHWU\ 7ULFRUQ )UDPH ,QODLG ZLWK $ %ORRPLQJ 5RVH 9LQH

VLJQHG (UQHVWR %DWWLJOLD ^+HLJKW LQFKHV OHQJWK LQFKHV`

VLJQHG ^+HLJKW LQFKHV`

(VWLPDWH

(VWLPDWH

3DLU RI $UW 1RXYHDX 9HUGLJULV 3DLQWHG 7ZR /LJKW &DQGHODEUD

3DLU RI &RQWLQHQWDO %HDG (QFUXVWHG *DUQLWXUHV

HDFK VWDPSHG 1$% DQG ^+HLJKW LQFKHV`

HDFK EUDQFKLQJ FRUDO IRUP HQFUXVWHG ZLWK FRUDO DPEHU WXUTXRLVH URVH RSDOHVFHQW DQG FOHDU JODVV EHDGV RQ D FU\VWDO EDVH ^+HLJKW LQFKHV` >VPDOO ORVVHV WR ZLULQJ@

(VWLPDWH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

3DLU RI /RXLV ;9 6W\OH )RXU /LJKW *LOW %UDVV &DQGHODEUD

/LRQHO 6WDQGDUG 6L]H 7UDLQ 6HW &RPSULVLQJ D 6XSHU 0RWRU ORFRPRWLYH D 5DLOZD\ 0DLO ER[ FDU DQG WZR SDVVHQJHU FDUV LQFOXGLQJ 3XOOPDQ DQG REVHUYDWLRQ DFFRPSDQLHG E\ WHQ OHQJWKV RI FXUYHG WUDFN DQG ILIWHHQ OHQJWKV RI VWUDLJKW WUDFN

ZLWK SLQN YDVH LQVHUWV GHFRUDWHG E\ FKHUXEV ^+HLJKW LQFKHV`

(VWLPDWH

(VWLPDWH

3DLU RI )UHQFK 0DUEOH DQG *LOW 0HWDO %RRNHQGV

/LRQHO 0RGHO 7UDLQ 6HW

3LFWXULQJ %HHWKRYHQ DW 7KH 3LDQR - % +LUVFK -59+/ ^+HLJKW LQFKHV OHQJWK LQFKHV`

(VWLPDWH

(VWLPDWH

9 &HOH *RRGPDQ 7HUUD &RWWD )LJXUH RI D /DG\

,QFOXGLQJ D /RFRPRWLYH WZR 6KHOO WDQNHUV WZR &XUWLV V %DE\ 5XWK &DQG\ ER[ FDUV ER[ FDU PDUNHG JRQGROD OLJKW WRZHU ^KHLJKW LQFKHV` WUDLQ VLJQDO WKUHH JDXJH VZLWFKHV RQH FRQWUROOLQJ UKHRVWDW WZR WUDFN FURVVURDG SLHFHV DQG DSSUR[LPDWHO\ OHQJWKV RI WUDFN ERWK FXUYHG DQG VWUDLJKW DV ZHOO DV SLHFHV IRU DWWDFKPHQW

&ROOHFWLRQ RI V &RQFHUW +DQGELOOV

^+HLJKW LQFKHV`

&RPSULVLQJ DSSUR[LPDWHO\ RQH KXQGUHG DQG WHQ H[DPSOHV LQFOXGLQJ ELOOV IURP EDQGV VXFK DV WKH *UDWHIXO 'HDG 6DQWDQD &UHGHQFH &OHDUZDWHU 5HYLYDO %% .LQJ DQG PDQ\ %D\ $UHD FRQFHUWV DQG HYHQWV

(VWLPDWH

(VWLPDWH

0RGHUQ *ODVV %HDGHG DQG 7LHUHG 3\UDPLG /DPS

$OEXP RI $XWRJUDSKHG &HOHEULW\ 3KRWRV

^+HLJKW LQFKHV ZLGWK LQFKHV`

&RPSULVLQJ DSSUR[LPDWHO\ VL[W\ VLJQDWXUHV LQFOXGLQJ &OLQW (DVWZRRG %LOO &RVE\ 'HDQ 0DUWLQ -RKQ 7UDYROWD 6KLUOH\ 0DFODLQ 1DQF\ 6LQDWUD 0DWW /DXHU %DUEDUD 6WUHLVDQG %RE %DUNHU -D\ /HQR DQG RWKHUV

(VWLPDWH

(VWLPDWH

7ZR 9LQWDJH %LVTXH +HDG /DG\ 'ROOV

&RPSULVLQJ D GROO LQ 6ZHGLVK FRVWXPH ^OHQJWK LQFKHV` DQG DQ $UPDQG 0DUVHLOOH *HUPDQ FRPSRVLWH EDE\ GROO ZLWK ELVTXH KHDG ^OHQJWK LQFKHV` >ORVVHV WR ERWK GROOV@

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

%DWPDQ 1HDO $GDPV DUW IHDWXULQJ 5D V $O *KXO DQG 7ZR )DFH

$PD]LQJ 6SLGHU 0DQ )1 WR 9) 10 FRQGLWLRQ

$SSUR[LPDWH FRQGLWLRQ 9HU\ )LQH 1HDU 0LQW

(VWLPDWH

(VWLPDWH

%DWPDQ

9) WR 9) FRQGLWLRQ

(VWLPDWH

*URXS RI 6XSHUPDQ &RPLF %RRNV IURP WKURXJK

1XPEHUV

DQG $YHUDJH FRQGLWLRQ 9)

(VWLPDWH

%DWPDQ 1HDO $GDPV DUW

,QFRPSOHWH UXQ RI *UHHQ /DQWHUQ IURP '& &RPLFV WR ,VVXHV ,QFOXGHV NH\ LVVXHV DQG $YHUDJH FRQGLWLRQ 9)

$SSUR[LPDWH FRQGLWLRQ RI 9HU\ )LQH 9HU\ )LQH 1HDU 0LQW

(VWLPDWH

(VWLPDWH

%DWPDQ 9) WR 9) 10 FRQGLWLRQ

*URXS RI ; 0HQ &RPLF %RRNV $SSUR[LPDWH $YHUDJH &RQGLWLRQ )LQH 9HU\ )LQH 1XPEHUV FRSLHV RI LVVXH

$SSUR[LPDWH FRQGLWLRQ RI LVVXHV ) 9) ) 9)

(VWLPDWH

(VWLPDWH

$PD]LQJ 6SLGHU 0DQ ) 9) WR 9) 10 FRQGLWLRQ

(VWLPDWH

0RVW ERRNV DSSUR[LPDWH FRQGLWLRQ 9) 1XPEHUV )1 ZLWK VPDOO PP WHDU RQ EDFN HGJH RI EDFN FRYHU 9)

5XQ RI ; 0HQ &RPLF %RRNV 1XPEHUV $SSUR[LPDWH DYHUDJH FRQGLWLRQ 9HU\ )LQH

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

*URXS RI 'HWHFWLYH &RPLFV $YHUDJH &RQGLWLRQ 9) 1XPEHUV

7ZR 6LOYHU ,QODLG +RUVH %LWV

,QFOXGLQJ RQH ZLWK ZRYHQ OHDWKHU UHLQV DQG RQH ZLWK DWWDFKHG OHDWKHU EULGOH DQG UHLQV ^/HQJWK RI ORQJHVW ELW LQFKHV`

$SSUR[LPDWH DYHUDJH FRQGLWLRQ 9) $SSUR[LPDWH FRQGLWLRQ RI LVVXHV )1 9) 9) 9)

(VWLPDWH

(VWLPDWH

5XQ RI 'HWHFWLYH &RPLFV $YHUDJH &RQGLWLRQ 9HU\ )LQH

9LFWRULDQ %XUO :RRG :DOQXW 'HVN %R[ DQG DQ $GDPV 'LFNHQV +XPLGRU

$SSUR[LPDWH FRQGLWLRQ RI LVVXH 9)

(VWLPDWH

^'LPHQVLRQV RI GHVN [ [ LQFKHV KHLJKW RI KXPLGRU LQFKHV` >ORVVHV WR GHVN@

(VWLPDWH

&ROOHFWLRQ RI )UHHKDQG 3LSHV

&KHOVHD 6KLS V &ORFN ZLWK 6XEVLGLDU\ 6HFRQG 'LDO

,QFOXGLQJ D <HOOR %ROH ,PSHULDO SLSH D )UHQFK VWUDLJKW VKDQNHG 6DIDUL ([SORUHU ^OHQJWK LQFKHV` D SLSH PDUNHG ,PSRUWHG %ULDU 5RRW DQ (KUOLFK SLSH DQG DQ ,VUDHOL EHQW VWHP EULDU

(VWLPDWH

^'LDPHWHU LQFKHV`

(VWLPDWH

&ROOHFWLRQ RI )UHHKDQG 3LSHV

:HPSH 6KLS V &ORFN DQG %DURPHWHU

&RPSULVLQJ WZR ,WDOLDQ 3LSHV LQFOXGLQJ D &HVDUH VXSUHPD ^OHQJWK LQFKHV` DQG D EHQW VWHP 2RP 3DXO D VWUDLJKW VKDQNHG SLSH E\ /HH D EHQW VWHP $OJHULDQ EULDU DQG D LO 'LDPDQWH ERZO ODFNLQJ VWHP

(VWLPDWH

HDFK ZLWK ZRRGHQ EDFN SODWH ^0D[LPXP GLDPHWHU RI FORFN LQFKHV`

(VWLPDWH

&ROOHFWLRQ RI %ULDU 3LSHV

7ZR $QWLTXH 4XLOWV ,QFOXGLQJ 2QH $PLVK

,QFOXGLQJ WKUHH (QJOLVK SLSHV ^OHQJWK RI ORQJHVW LQFKHV` D )UHQFK 5233 6XSUHPH SLSH DQG D FRPSRVLWLRQ SLSH WRJHWKHU ZLWK D EUDVV SLSH VWDQG

(VWLPDWH

^'LPHQVLRQV RI EOXH TXLOW LQFKHV [ LQFKHV EHLJH TXLOW [ LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

$UW 'HFR (QJLQH 7XUQHG *ROG 3ODWHG &RPSDFW )LWWHG ZLWK D 5HPRYDEOH 3RFNHW :DWFK VWDPSHG *ROG DQG D VLOYHU PHWDO 0HVK SXUVH ZLWK HQJUDYHG IORUDO PRXQW

)ORUDO 4XLOW DQG D )UHQFK -DFTXDUG 5XQQHU

^'LPHQVLRQV RI TXLOW [ LQFKHV UXQQHU [ LQFKHV`

^/HQJWK RI FRPSDFW LQFKHV SXUVH LQFKHV`

(VWLPDWH

(VWLPDWH

9LFWRULDQ /HDWKHU %RXQG 3KRWRJUDSK $OEXP

&ROOHFWLRQ RI 6HYHQ 3HQV DQG *HQWOHPHQ V ,QFUHPHQWV

&RQWDLQLQJ IRUW\ ILYH SKRWRJUDSKV DQG FDUWH GH YLVLWH SRVW FDUGV LQFOXGLQJ LPDJHV RI 7RP 7KXPE DQG KLV IDPLO\ 3UHVLGHQWV (PSHURU 1RUWRQ %XLOGLQJV DQG IDPLO\ SKRWRJUDSKV ^'LPHQVLRQV [ [ LQFKHV`

(VWLPDWH

(VWLPDWH

7ZR &LYLO :DU (UD /HDWKHU %RXQG 3KRWRJUDSK $OEXPV

/DUJH 1DWLYH $PHULFDQ $FRPD 2OOD -DU

&RPSULVLQJ DQ DOEXP FRQWDLQLQJ WKLUW\ SDJHV RI SRUWUDLWV ^GLPHQVLRQV [ [ LQFKHV` DQG DQ DOEXP FRQWDLQLQJ WKLUW\ VHYHQ SRUWUDLWV DQG IDPLO\ SKRWRJUDSKV

(VWLPDWH

FLUFD 1HZ 0H[LFR ^+HLJKW LQFKHV GLDPHWHU LQFKHV` >UHVWRUDWLRQ DQG UHSDLUV@

(VWLPDWH

)LYH 0LQLDWXUH 9LFWRULDQ 3KRWRJUDSK $OEXPV

(VWLPDWH

&RPSULVLQJ DQ (QJOLVK 2VPLURLG SHQ D :DKO VLOYHU SODWHG SHQ D :DKO JROG ILOO SHQ ^OHQJWK LQFKHV` (QJOLVK 3ODWLJQXP VLOYHU UXQ SHQ WZR 3DUNHU LQODLG SHQV DQG D 6KHDIIHU SHQ WRJHWKHU ZLWK D 6ZLVV $UP\ NQLIH D &XE 6FRXW SRFNHW NQLIH D &KULVW &KXUFK HQDPHOHG SLQ DQG D VWHUOLQJ ZRUOG IRUP EHOO

&RPSULVLQJ D OHDWKHU ERXQG DOEXP WLWOHG $PDQGD FRQWDLQLQJ WHQ IDPLO\ SKRWRJUDSKV DQG VPDOO FDUGV D IDEULF DOEXP ZLWK SDLQWHG PHGDOOLRQ FRQWDLQLQJ IRUW\ IDPLO\ SKRWRJUDSKV D OHDWKHU ERXQG DOEXP FRQWDLQLQJ WKLUW\ HLJKW SKRWRJUDSKV ^GLPHQVLRQV [ [ LQFKHV` DQ DOEXP SUHVHQWHG LQ FRQWDLQLQJ WHQ SKRWRJUDSKV DQG D VFUDS ERRN DOEXP JOXHG ZLWK GHFRXSDJH FXWWLQJV DQG GUDZLQJV IURP WKH RZQHU WRJHWKHU ZLWK D SRFNHW VL]HG GLFWLRQDU\ 7KH &RQFLVH 6WDQGDUG 'LFWLRQDU\ RI 7KH (QJOLVK /DQJXDJH

1DWLYH $PHULFDQ +RSL 6HHG -DU VLJQHG &ODXGLQD /RPDNHQD

([KLELWHG E\ D )ODJVWDII PXVHXP -XQH DFFRPSDQLHG E\ D ULEERQ IURP WKH H[KLELW ^+HLJKW LQFKHV GLDPHWHU LQFKHV`

(VWLPDWH

1DWLYH $PHULFDQ =LD 3RO\FKURPH 2OOD -DU

E\ 6HIHULQD %HOO VLJQHG ZLWK SLFWRULDO EHOO PDUN ^+HLJKW LQFKHV GLDPHWHU LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

1DYDMR 5HG *URXQG 7ZLOO %ODQNHW

3DLU RI <XSLN ,QXLW *ORYHV

PDUNHG +RO\ &URVV $ODVND /DWH WK &HQWXU\ ^'LPHQVLRQV LQFKHV [ LQFKHV`

/DWH &HQWXU\ ^'LPHQVLRQV LQFKHV [ LQFKHV` >KROH DQG VHOYDJH ORVV@

(VWLPDWH

(VWLPDWH

1DYDMR %ODFN *URXQG 5XJ

&DQDGLDQ &UHH %HDGHG +LGH :DOO 3RFNHW

LQ :RPHQ V 'UHVV +DOI 6W\OH ^'LPHQVLRQV LQFKHV [ LQFKHV`

(VWLPDWH

ZLWK FURVVHV DUURZV DQG GLDPRQGV ^'LPHQVLRQV LQFKHV [ LQFKHV`

(VWLPDWH

1DYDMR *UH\ +LOOV 5XJ

1DWLYH $PHULFDQ 6LRX[ %HDGHG +LGH 'ROO

^'LPHQVLRQV LQFKHV [ LQFKHV` >KROH DW RQH HQG@

(VWLPDWH

ZLWK PRFFDVLQV NQLIH VKHDWK DQG MHZHOU\ ^+HLJKW LQFKHV`

(VWLPDWH

*HUPDQ 7RZQ 6XQGD\ 6DGGOH %DVNHW

&KLSSHZD %HDGHG &ORWK %DQGROLHU %DJ

ZLWK \HOORZ JURXQG DQG FRQFHQWULF GLDPRQG FHQWHU SDWWHUQ ^'LPHQVLRQV LQFKHV [ LQFKHV DGGLWLRQDO LQFK IULQJH`

(VWLPDWH

^/HQJWK LQFKHV ZLGWK LQFKHV`

(VWLPDWH

3DLU RI &DQDGLDQ &UHH %HDGHG 0LWWHQV

&HQWUDO 3ODLQV 1DWLYH $PHULFDQ %HDGHG 0RFFDVLQV

ZLWK EOXH JUHHQ SLQN DQG \HOORZ EHDGZRUN ^/HQJWK LQFKHV ZLGWK DW IXU WULP LQFKHV` >VPDOO ORVVHV@

(VWLPDWH

ZLWK NH\KROH DQG FURVV GHVLJQV ^/HQJWK LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

,QXLW 7VLPVKLDQ %DVNHW ZLWK :RYHQ $ODVND

7ZR 9LQWDJH 2FHDQLF 7DSDV &ORWK /HQJWKV

^+HLJKW LQFKHV GLDPHWHU LQFKHV`

(VWLPDWH

(VWLPDWH

1DWLYH $PHULFDQ 0RQR %DVNHW ZLWK )HUQ

7ZR 9LQWDJH 2FHDQLF 6TXDUH 7DSDV &ORWKV

)LUVW 4XDUWHU WK &HQWXU\ ^+HLJKW LQFKHV JUHDWHVW GLDPHWHU LQFKHV`

(VWLPDWH

(VWLPDWH

1DWLYH $PHULFDQ <XURN %DVNHW ZLWK 3RUFXSLQH *HRPHWULF 'HVLJQ ^+HLJKW LQFKHV GLDPHWHU LQFKHV RSHQLQJ LQFKHV` >ULP ORVVHV@

LQ EODFNV DQG EURZQV ,QFOXGLQJ RQH ZLWK SLQ ZKHHO PRWLI ^'LPHQVLRQV IHHW LQFKHV [ IHHW LQFKHV` DQG RQH ZLWK JHRPHWULF ULEERQ GHVLJQ ^'LPHQVLRQV IHHW LQFKHV [ IHHW LQFKHV` 3URYHQDQFH $FTXLUHG LQ 3RO\QHVLD GXULQJ WKH V E\ 0UV (GZDUG %UXFH DQG GHVFHQGHG WKURXJK KHU IDPLO\ WR WKH SUHVHQW GD\

7ZR 9LQWDJH 2FHDQLF 7DSDV &ORWKV ZLWK 6WDUEXUVW 'HVLJQV

(VWLPDWH

1DWLYH $PHULFDQ <RNXWV %DVNHW

LQ EODFNV DQG UHGV ,QFOXGLQJ D UXQQHU RI IRXU OHQJWKV ZLWK JHRPHWULF ULEERQ GHVLJQ ^'LPHQVLRQV IHHW LQFKHV [ IHHW LQFKHV` DQG D WZR OHQJWK IUDJPHQW SDQHO ^'LPHQVLRQV IHHW LQFKHV [ IHHW LQFK` 3URYHQDQFH $FTXLUHG LQ 3RO\QHVLD GXULQJ WKH V E\ 0UV (GZDUG %UXFH DQG GHVFHQGHG WKURXJK KHU IDPLO\ WR WKH SUHVHQW GD\

(VWLPDWH

ZLWK 'LDPRQG %DFN 5DWWOHVQDNH %DQGV DQG &URVVHV (DUO\ WK &HQWXU\ ^+HLJKW LQFKHV GLDPHWHU LQFKHV`

,QFOXGLQJ D VTXDUH H[DPSOH ^'LPHQVLRQV IHHW LQFKHV [ IHHW LQFKHV` DQG D URXQG FORWK ^'LDPHWHU IHHW LQFKHV` 3URYHQDQFH $FTXLUHG LQ 3RO\QHVLD GXULQJ WKH V E\ 0UV (GZDUG %UXFH DQG GHVFHQGHG WKURXJK KHU IDPLO\ WR WKH SUHVHQW GD\

&ROOHFWLRQ RI 7HQ 3UH &ROXPELDQ RU 0HGLWHUUDQHDQ +HDGV 7RJHWKHU ZLWK D &XQHLIRUP 7DEOHW DQG DQ $UURZ +HDG

(VWLPDWH

^+HLJKW RI WDOOHVW KHDG LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

$ $XJXVW (VWDWH $XFWLRQ

.ODQJD 3DQHO ZLWK (PEURLGHUHG 'UDJRQ

^'LPHQVLRQV [ LQFKHV`

(VWLPDWH

)RU PXOWLSOH YLHZV DQG FRORU SKRWRV JR WR FDWDORJ PLFKDDQV FRP

3DJH

Directions From San Francisco, Marin or Sacramento: 1. Take Hwy 80 to 880 South (San Jose/ Alameda).

2. Exit Hwy 880 at Broadway - Alameda exit.

3. Turn right at the first light (5th Street) 4. Proceed down 5th Street to Broadway.

5. Cross Broadway and enter Webster Tube to Alameda.

6. Proceed through Webster Tube and stay in right lane.

7. Upon exiting the Tube, take the “Mariner Square” exit on the right and continue straight through the intersection onto Willie Stargell Ave. 8. Continue on Willie Stargell Ave. and turn right at Main Street (the first traffic light).

9. Follow Main until it ends at the Main St. entry Gate.

10. Enter through the gate, veering to the left onto Red Line Avenue, then right onto Todd Street.

11. Turn right into the first parking lot. The main gallery address is 2751 Todd Street.

From the South Bay: 1. Take Hwy 880N. 2. Take the Broadway Exit (Downtown Oakland).

3. Turn right at Broadway.

4. Turn right at 7th St. 5. Turn right at Webster.

6. Enter Webster Tube to Alameda and stay in right lane.

7. Proceed through Webster Tube and stay in right lane.

8. Upon exiting the Tube, take the “Mariner Square” exit on the right and continue straight through the intersection onto Willie Stargell Ave. 9. Continue on Willie Stargell Ave. and turn right at Main Street (the first traffic light).

10. Follow Main until it ends at the Main St. entry Gate.

11. Enter through the gate, veering to the left onto Red Line Avenue, then right onto Todd Street.

12. Turn right into the first parking lot. The main gallery address is 2751 Todd Street.

Red Line Avenue

N

E

Red Line

Main St.

Todd St.

S

W Starg illie ell Av e.

.

eb W

ste

t rS

Main Gallery 2751 Todd St.

West Essex Drive

Todd Street

w

Gallery Parking Lot

880 Saratoga Street

Port of Oakland

FOR OFFICE USE ONLY

Auction # Bidder # Registered By:

Absentee Bid Registration Form Name: Business Name: Address: State:

City:

Zip:

E-mail:

DL # : (fax):

Phone (home):

(work):

Resale/Tax Identification:

State:

I have previously registered with Michaan’s Auctions and the above information has already been provided (please check) _________

IMPORTANT: Please read the following Information • • •

• • •

Michaan’s Auctions (MA) is authorized to bid on my behalf at the above sale for the Lot(s) listed below up to the bid authorized below and to acquire the Lot(s) at the lowest price as permitted by other bids or the reserve.

MA will not be responsible for any error or failure to execute an absentee bid for any reason whatsoever.

I agree that if my bid is successful, a Buyer's Premium of eighteen percent (18%) per lot of the hammer price up to and including $250,000 plus twelve percent (12%) per lot of any amount in excess of $250,001 up to and including $1,000,000 and ten percent (10%) per lot in excess of $1,000,001, which Premium shall be retained by MICHAAN'S AUCTIONS. If I choose to pay by credit card, the Buyer's Premium is twenty-one percent (21%) per lot up to and including $250,000 plus fifteen percent (15%) per lot of any amount in excess of $250,001 up to and including $1,000,000 and twelve percent (12%) in excess of $1,000,001.

I have read and agree to be bound by the Terms and Conditions of Sale set forth in the Catalog.

All bids shall conform to the bidding increments set forth in the Catalog In the case of a tie with a live bid from the floor, phone or internet, priority will be given to the live bid. In the case of a tie with another absentee bid, priority is given to the first bid received by Michaan’s Auctions Absentee bids must be received by MA no later than 5pm the day before the sale date.

Lot #

Brief Description

Bid

Check for One Increment Higher *

$ $ $ * In the event of a tie bid, check box to give Michaan’s Auctions permission to bid one increment higher.

I confirm that I have read and agree to the “Terms and Conditions of Sale” as set forth in the catalog.

This form constitutes a binding commitment to purchase all successful bids. _________________________________________________________ Signed (signature required to execute your bid)

_______________________ Date

Michaan’s Auctions s PO Box s Alameda, CA 94501 s (510) 740-0220 Bonded pursuant to California Civil Code sec. 1812.600 et seq. Bond # 70044066 Please check if bidding continues on page two _______

Absentee Bid Form Page 2

Lot #

Brief Description

Bid

Check for One Increment Higher *

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

In the event of a tie bid, check box to give Michaan’s Auctions permission to bid one increment higher.

I confirm that I have read and agree to the “Terms and Conditions of Sale” as set forth in the catalog.

Signed (signature required to execute your bid) Michaan’s Auctions s PO Box s Alameda, CA 94501 s (510) 740-0220 Bonded pursuant to California Civil Code sec. 1812.600 et seq. Bond # 70044066

Date

Artist Index Artist Anisfeld, Boris Azoulay, Guillame Balas, Limazin Bischoff, Franz Bloodgood, Don Bradford, Jane Bressler, Emile California School Camacho, Elio Carbye Catalan, Ramon Ciment, P Clymer, Albert Coggins, Leola Cohen, Jessica Cooper, Michael Couturier, Rene Cuprien, Frank William Daken, Tilden Dali, Salvador Davis, Gene De Martini, Joseph Deremo DeVity, Antonio Dominique, John Dominquez, Miguel Erte European School Farnsworth, Alfred Farr, Ellen Felixmuller, Conrad Goin, Peter Golubeff, Gregory Gorman, RC Gorospe, Paco Graham, Ellwood Guillon, Pierre Hetch, Stewart Hohnstedt, Peter Lanz

Lot # 310, 311 356 287 292 353 322 275 345 297 348 285 325 351 316 358 342 343 314 317 331 334 300 283 283 319, 322 355 335 288 289 315 278 308 309 307 360 349 339, 340 346 295

Artist Holub, Leo Hoppock, Kay Hu, Chi Chung Hughes, Daisy Ide, Tom Kalisch, Jean Kelley, Susan Kleitsch, Joseph Kraus, Friedrich Lambert, Bradford Launois, Jean Lobel-Riche, Almery Loran, Erle Max, Peter Medvedev, Igor Miro, Joan Mutter, Scott Neuhaus, Karl Oleson, Nanette Osorio, Trinidad Otto, V Page, Willard Partridge, Roi Picasso, Pablo Quinn, Thomas Richards, Thomas Addison Rockwell, Norman Schloss, Richard Schwartz, Davis Sheets, Millard Siccart-Redl, Josef Steynovitz, Zamy Todhunter, Francis Augustus Varda, Jean Walkley, Peter Wickers, Ethel Williams, Hubert Wingate, James

Lot # 328 302 350 296 323, 324 359 329 312 276 286 282 277 354 338 344 332, 336 347 313 303, 304, 305 352 273 290 330 333 321 293 306 327 301 320 280 357 294 341 299 318 284 274

2751 Todd Street Alameda, CA 94501 (800) 380-9822 or (510) 740-0220 www.michaans.com info@michaans.com