Item 3.2 Mississippi Landing3601 Thurston Avenue
Anoka, MN 55303
763.231.5840
TPC@PlanningCo.com
1
PLANNING REPORT
TO: Otsego Planning Commission
FROM: D. Daniel Licht
REPORT DATE: 30 May 2024
120-DAY DATE: 20 July 2024
RE: Otsego – Mississippi Landings; PUD Development Stage Plan
TPC FILE: 101.02
BACKGROUND
Modern Construction of Minnesota, Inc. has submitted plans for a mixed-use development of
13.80 acres located east of TH 101 and south of 90th Street. The subject property exists as
three lots with an area of 7.21 acres and one outlot with an area of 6.57 acres. The proposed
development includes 150 multiple family dwellings and retail, office, and service commercial
uses, as well as an open space planned for future improved open space and docks on the
Mississippi River.
The City Council on 13 March 2023 approved a PUD District amendment, PUD Development
Stage Plan, and preliminary plat for the above referenced project. Section 11-36-4.D.6 of the
Zoning Ordinance establishes that a final PUD Final Plan must be submitted within six months of
a PUD Development Stage Plan being approved. Minnesota Statutes 462.356, Subd. 3c
provides that approval of a preliminary plat is valid for one year from the date of approval. City
staff notified the developer on 20 March 2024 that the PUD Development Stage Plan and
preliminary plat approved previously are void.
The developer has re-submitted application for a PUD Development Stage Plan, preliminary
plat, and vacation of existing drainage and utility easements for the proposed development. A
public hearing to consider the applications has been noticed for the Planning Commission
meeting on 3 June 2024 at 7:00 PM.
Item 3.2
2
Exhibits:
Site Location Map
Developer Narrative
SRF Parking Study dated April 13, 2023 (7 pages)
Architectural plan set (partial) dated 09/25/23 (35 sheets)
Site Development Plans dated 04.03.24 (14 sheets)
Preliminary Plat dated 12/16/2022
Park Concept dated 2024.03.25
ANALYSIS
Comprehensive Plan. The 2023 Comprehensive Plan guides the subject site for mixed-use land
uses to be developed with high density residential and commercial land uses. The proposed
development, which is to be the first phase of a larger overall build out of the subject property,
provides for construction of residential, restaurant, and commercial building space consistent
with the recommendations of the Comprehensive Plan.
Zoning. The subject site is zoned PUD, Planned Unit Development District. Allowed uses within
the PUD District currently include only those permitted, conditional, interim, and accessory
uses provided for within the B-3, General Business District and multiple family dwellings. The
commercial spaces within the proposed building are suitable for the allowed uses within the B-
3 District. Inclusion of the proposed residential dwellings is consistent with the
recommendations of the 2023 Comprehensive Plan to develop with a mix of commercial and
residential uses upon the subject property and the PUD District
Surrounding Uses. The subject site is surrounded by the existing and planned land uses shown
in the table below. The proposed mixed-use development would transition to the uses
developed within Otsego Waterfront East to the north through Outlot A. The 101 Market is
also compatible with the proposed use, although screening of the outdoor storage area should
be considered, but would be difficult to implement given the proposed building heights
illustrated with the architectural plans.
Direction Land Use Zoning Existing Use
North Commercial
Park
PUD District 101 Market
Carrick’s Landing
East -- -- Mississippi River
South Rural A-1 District Mississippi Riverwood campground
West -- -- Trunk Highway 101
3
EAW. The scope of the proposed development required processing of an Environmental
Assessment Worksheet (EAW) in accordance with Minnesota Rules 4410.4300, Subp. 32. In
accordance with Minnesota Rules 4410.1500, the EAW was completed and distributed to
persons and agencies on the official Environmental Quality Board (EQB) distribution list and
published on the City website. A notice of EAW availability was published in the EQB Monitor
on 20 September2022, initiating a 30-day public comment period. A press release was
submitted to the Elk River Star newspaper. The comment period ended on 20 October 2022.
The City received written comment letters from the Minnesota Department of Transportation,
Minnesota State Historic Preservation Office, and Minnesota Department of Natural Resources.
None of the comments recommended preparation of an Environmental Impact Statement (EIS).
The City Council on 14 November 2022 adopted responses to the comments confined to
substantive issues that “address the accuracy and completeness of the material contained in
the EAW, potential impacts that may warrant further investigation before the project is
commenced, and the need for an EIS on the proposed project” (MN Rules 4410.1600).
The City Council also adopted Findings of Fact that preparation of an Environmental Impact
Statement is not required in accordance with Minnesota Rules 4410.1700, Subp 7.
Building. The PUD Development Stage Plan includes one 7-story building on the north side of
Lot 1, Block 1. The total area of the proposed building is 221,959 square feet consisting of
12,605 square feet of commercial and restaurant spaces on the at-grade level and on the
second floor above the parking garage, 150 multiple family dwelling units on the second floor
up to the top floor, and 10,243 square feet of common spaces including an interior lounge open
to the public and rooftop deck for tenants only on the east elevation of the building.
Exterior Materials. The exterior finish of the proposed building must comply with the
requirements of Section 11-17-4.C of the Zoning Ordinance for multiple family dwellings
and Section 11-17-4.D.1 of the Zoning Ordinance for commercial uses. These standards
are to be applied as a minimum of 65 percent of the building exterior being glass, brick,
or stone materials defined as Grade A materials by Section 11-17-4.B.1 of the Zoning
Ordinance.
The proposed building utilizes large windows, brick veneer, rockface CMU block, and
fiber cement siding. Rockface block will need to be covered with stain meeting
exceeding ASTM G154 standards to comply with the material requirements of the
Zoning Ordinance. The total of the windows, brick veneer, and rockface block equal 44
percent of the building exterior finish.
City staff recommends that the glass and/or brick veneer be increased to bring the total
of the Grade A materials to be at least 65 percent of the exterior finish of the proposed
building, unless an exception is approved by the Planning Commission.
4
Building Height. The proposed building is seven stories in height comprised of the
parking structure and commercial and restaurant space at grade with six stories of
additional commercial space (on the first floor above grade) and multiple family units up
to the seventh floor. The top story of the building stepped back from Quantrelle
Avenue to reduce the visual mass on the west side of the structure. The height of the
building measured from grade to highest point of the structure is 83 feet.
The Emergency Services Director states there is no issue from a public safety
perspective with the height of the proposed building.
For comparison purposes, the height of other buildings in the City are as follows:
Stories Height
Mid-Point Peak
Wyndham Hotel 4 46ft. 69ft.
Riverview Landing 4 55ft. 57ft.
The Village 4 40ft. 47ft.
Multiple Family Dwelling Units. Section 11-17-6 of the Zoning Ordinance requires the
following minimum floor area for each multiple family dwelling unit to ensure an
adequate living area. The floor area proposed for the multiple family dwelling units all
exceed the minimum requirements of the Zoning Ordinance.
# of
Bedrooms
Number
of Units
Minimum
Floor Area
Proposed
Floor Area
Studio 13 500sf. 507-584sf.
1 Bedroom 89 700sf. 645-860sf.
2 Bedroom 35 780sf. 1,050-1,613sf.
Section 11-17-7 of the Zoning Ordinance limits studio apartments to 10 percent of the
total number of dwelling units, but the 2020 Multiple Family Housing Study
recommends allowing up to 30 percent studio apartments based on current
construction practices. The proposed 13 studio apartments are 9 percent of the total
number of dwelling units. For reference one bedroom units are 59 percent and two
bedroom units are 23 percent of the total number of dwelling units. There is an
average 1.1 bedrooms per dwelling unit (which is a factor in determining parking
demand in subsequent paragraphs).
The proposed floor area of 29 of the one bedroom units is up to 55 square feet less
than the 700 square feet required by the Zoning Ordinance. The mean floor area of
the one bedroom units is 728 square feet and the median floor area of the one
bedroom units is 714 square feet. The Planning Commission may allow the flexibility
in floor area for the one bedroom units through the PUD Development Stage Plan or
include a stipulation that all one bedroom units be a minimum of 700 square feet.
5
Lot Requirements. Without considering the commercial floor area, the density of the proposed
development of Lot 1, Block 1 with the initial 150 dwelling units is 30.4 dwelling units per acre.
The 2023 Comprehensive Plan does not establish a limit for residential density of mixed-use
development. The proposed 30.4 dwelling units per acre is appropriate for an urban density
mixed-use development envisioned for the subject property by the 2023 Comprehensive Plan.
The commercial floor area must also be factored into consideration of the proposed intensity of
the development. Support for the PUD Concept Plan included limiting the Floor Area Ratio of
development to 0.7 (including the open space area). The 53,474 square feet of enclosed at-
grade parking would not be included within the Floor Area Ratio limit. The area of the
proposed building excluding the enclosed parking is 168,485 square feet. Based only on the
area of Lot 1, Block 1, the Floor Area Ratio is 0.78. Including the area of Outlot A and Outlot B
in the Floor Area Ratio calculation equals 0.33.
The proposed PUD Development Stage Plan complies with the lot requirements of the PUD
District.
Setbacks. Setbacks may be established specific to a PUD District and modified by a PUD
Development Stage Plan. The proposed at-grade parking structure is setback 10 feet from the
Quantrelle Avenue right-of-way and five feet from the north property line. The developer must
verify that the proposed setback from the north property line complies with the Fire Code in
conjunction with the proposed building plans.
Outlot A provides physical separation of the proposed building from the Mississippi River and
any applicable setback requirements related to the WS, Wild, Scenic, and Recreational River
District. The proposed setbacks are appropriate in order to maximize the developable property
within the subject site outside of the Wild, Scenic and Recreational River District.
The proposed building is setback 10 feet from the west property line abutting Quantrelle
Avenue. The typical setback required from public streets is 30 feet. The proposed 10 foot
setback does not cause issue with visibility on the public street and maximizes the development
of the subject property between Quantrelle Avenue and the 300 foot setback from the
Mississippi River required for by the WS District provisions.
Traffic. The subject site is accessed via Quantrelle Avenue. Quantrelle Avenue is an existing
two lane street with shoulders and concrete curb having a width of 32 feet. Quantrelle Avenue
intersects 90th Street at a four-way intersection to the north of the subject property. The
developer completed a Traffic Impact Study as part of the Environmental Assessment
Worksheet to estimate the trips generated by the proposed project and potential impacts at
the intersection of Quantrelle Avenue and 90th Street to evaluate the potential need for
improvements.
6
Trip generation was estimated using the methodology outlined in the Institute of
Transportation Engineers (ITE) Trip Generation Manual, 11th Edition (2021). The 2025 full build
calculations of the entire development as envisioned by the concept plan determine that the
fully constructed proposed development is expected to generate about 3,907 vehicle trips per
weekday. Within the PM peak hour, the development is expected to generate the maximum
peak number of trips, consisting of 211 entering vehicles and 180 exiting vehicles.
Trip Generation Forecast
Land Use Type (ITE
Code) Size
AM Peak Hour PM Peak Hour Daily
Trips In Out In Out
Mid-Rise Housing
(221)
387
Units 36 123 92 59 1,800
Hotel (310) 51
Rooms 13 10 15 15 407
Strip Retail (822) 35,000
SF 50 33 115 116 1,906
Multi-Use Reduction (5%) -5 -8 -11 -10 -206
Total Site Trips 94 158 211 180 3,907
The Traffic Impact Study analyzed the distribution of traffic and the impacts to the surrounding
street network. Traffic operational analysis was conducted for the Quantrelle Avenue and 90th
Street for existing conditions and build and no-build scenarios for two design years, 2025, the
estimated year after full completion of the project, and 2040 as the long-range planning
horizon. A 1.0 percent per year annual growth rate was applied to existing traffic volumes and
was assumed to be constant through the analysis. The standard used for evaluating capacity
and operating conditions are from the Transportation Research Board’s Highway Capacity
Manual, 6th Edition. The procedures describe operating conditions in terms of driver delay
represented as a Level of Service (LOS). Operations are given letter designations with "A"
representing the best operating conditions and "F" representing the worst. Generally, level of
service “D” represents the threshold for acceptable overall intersection operating conditions
during a peak hour. The traffic operation analysis suggests there is sufficient existing capacity
at the Quantrelle Avenue and 90th Street intersection currently to accommodate the proposed
PUD Development Stage Plan with overall LOS A or better during the weekday A.M. and P.M.
peak hours. No queuing issues were identified.
A traffic capacity analysis was completed to determine how the streets are expected to operate
in the year 2025 with and without the proposed development. The results of the 2025 build and
no-build scenarios are shown in the table below and are very similar to the existing intersection
capacity. Significant impacts to operations as a result of the proposed development at full build-
out with the existing traffic control is not expected. The study found no considerable delays or
queueing issues for any of the approaches to the intersection and no mitigation efforts were
recommended. The development of the proposed PUD Development Stage Plan would also not
be expected to cause significant impacts to operations.
7
Quantrelle Ave./90th St. Intersection Capacity Analysis
Quantrelle Avenue/90th Street
Intersection(1)
AM Peak Hour PM Peak Hour
LOS Delay LOS Delay
Existing A/A 6 sec. A/A 6 sec.
No-Build 2025 A/A 6 sec. A/A 6 sec.
Build 2025 A/A 6 sec. A/A 7 sec.
No-Build 2040 A/B 10 sec. A/B 10 sec.
Build 2040 A/B 14 sec. B/C 21 sec.
Build 2040 - Southbound Lane
Channelization A/B 13 sec. A/C 19 sec.
(1) Indicates an unsignalized intersection with side-street stop control, where
the overall LOS is shown followed by the worst approach LOS. The delay
shown represents the worst side-street approach delay.
To help determine the long-term impacts associated with the proposed development, year
2040 conditions also were evaluated under both no-build and build conditions for the concept
plan development for the long-range planning horizon. These long-term 2040 conditions
included a forecast of adjacent developments in the area in addition to the buildout of the
proposed project. Under the Build 2040 conditions the study intersection is expected to
operate at an acceptable overall LOS B or better during the a.m. and p.m. peak hours. The
worst side-street approach is expected to be LOS C during the p.m. peak hour. However, during
the p.m. peak hour, the southbound 95th percentile queues are expected to be approximately
350 feet and northbound 95th percentile queue is approximately 200 feet.
The Traffic Impact Study recommends the construction of a free-flow southbound right-turn
lane with a channelized right-turn that modifies one westbound departure lane into an add lane
along 90th Street. This reconfiguration of the intersection would reduce vehicle conflicts,
reduce southbound queues, and allow for smoother vehicle operations. The southbound right-
turn bypass modification is not recommended as a result of the proposed development, either
the proposed PUD Development Stage Plan or full build-out. It is only needed if/when lots on
the north side of 90th Street develop, which adds conflicting vehicle turning maneuvers to the
intersection of Quantrelle Avenue and 90th Street. This street improvement will be
incorporated into requirements for the undeveloped properties north of 90th Street.
The results of the intersection capacity analysis with the southbound right-turn bypass indicate
the Quantrelle Avenue/90th Street intersection would be expected to operate at a LOS A during
the a.m. and p.m. peak hours. The northbound approach would have side-street delays of 19
seconds per vehicle and a 95th percentile queue of approximately 175 feet during the p.m. peak
hour. Southbound 95th percentile queues would be reduced to approximately 50 feet.
The Traffic Impact Study does not recommend modifications to Quantrelle Avenue or the
Quantrelle Avenue and 90th Street intersection to accommodate the proposed development
either at full build out nor as part of the initial PUD Development Stage Plan. Streets serving the
proposed development have the capacity to accommodate the traffic generated.
8
Access. The subject property is proposed to have three accesses to Quantrelle Avenue. Section
11-21-6.B.2 of the Zoning Ordinance requires accesses for multiple use developments onto
Quantrelle Avenue to be a minimum of 50 feet apart of another driveway. All of the proposed
accesses comply with the spacing requirements established by the Zoning Ordinance.
Section 11-21-C.2 of the Zoning Ordinance limits the width of an access to a public street to 30
feet unless approved by the City Engineer for circulation and turning movement purposes. The
three accesses are all less than 30 feet in width and comply with the requirements of the
Zoning Ordinance.
Street lighting is to be extended from Otsego Waterfront East along Quantrelle Avenue to the
south line of Lot 1, Block 1 in accordance with Section 8-8-5 of the City Code. The location of
proposed street lighting is to be subject to review and approval of the City Engineer. The
developer will pay a fee for the installation of the street lighting as provided for by the fee
schedule and City Code.
Parking. The table below outlines the number of parking stalls required for the proposed
development based on the requirements of Section 11-21-8 of the Zoning Ordinance:
Otsego Zoning Ordinance
Calculation of Required Parking Stalls
Requirement Unit/Area Required
Stalls
Multiple Family Dwelling 2.0 stalls/du 150du. 300
Commercial 1 stall/200sf. 5,975sf. 27
Sky Lounge 1 stall/3 persons 213 persons 71
Restaurant 1 stall/40sf. seating
1 stall/80sf. kitchen
4,055sf. 85
Total 483
The developer also engaged with SRF Consulting Group, Inc. to prepare a study of estimated
parking demand for the proposed use. The study evaluated parking estimates for a mixed-use
development established by the City of Wayzata and another analysis of off-street parking
demand based on Institute of Transportation Engineers parking generation data. The SRF
parking study was prepared based on a prior development plan for the subject site and was not
updated to address the current number of dwelling units and commercial uses or square
footage. City staff has updated this analysis in the following paragraphs for the purpose of
evaluating the parking supply needed for the proposed PUD Development Stage Plan.
9
The Wayzata prepared a methodology for calculating off-street parking requirements for
mixed-use land uses within the community’s central business district, such as the proposed
development. The methodology provides a for a reduction in the number of off-street parking
stalls needed based on a shared parking arrangement and daily time periods for weekdays and
weekends. The Wayzata scenario isn’t directly applicable as Downtown Wayzata has a
significant supply of on-street parking and public off-street parking available within a much
larger area than one mixed use development. The calculation of parking requirements for the
proposed development based on the Wayzata formula for determining shared parking is shown
in the table below:
Wayzata Mixed-Use
Estimate of Required Parking Stalls
Zoning
Ordinance
Required
Stalls
Weekday Weekend
12:00AM-
7:00AM
7:00AM-
6:00PM
6:00PM-
12:00AM
12:00AM-
7:00AM
7:00AM-
6:00PM
6:00PM-
12:00AM
Multiple
Family
300 300 180 300 300 225 300
Commercial 27 0 25 17 0 27 17
Sky Lounge 71 8 19 27 6 19 27
Restaurant 85 9 51 85 17 51 85
Total 483 317 275 429 323 322 429
Finally, Institute of Transportation Engineers Parking Generation study data was used to
estimate the number of parking stalls necessary for the proposed development. The Institute
of Transportation Engineers data is based on peak parking demanded applied to specific
periods of the day. A 10 percent reduction factor is also incorporated as part of the analysis to
account for parking interchange between the uses within the building. The analysis based on
the Institute of Transportation Engineers was updated based on current PUD Development
Stage Plan summarized below, which indicates a potential 60 percent reduction in the number
of required parking stalls.
Institute of Transportation Engineers
Estimate of Required Parking Stalls
Zoning
Ordinance
Required
Stalls
Weekday
Overnight 10:00AM 2:00PM 7:00PM
Multiple Family 300 197 107 91 138
Commercial 27 0 11 12 6
Restaurant 85 0 17 31 62
Total 483 197 135 140 206
10% Reduction -- 197 123 128 187
10
The difference between the Zoning Ordinance requirement and Institute of Transportation
Engineers study is based on a substantially lower parking demand estimate of 1.3 parking stalls
per multiple family dwelling unit (versus 2.0 stalls required by the Zoning Ordinance) and
accounting for off-set peak parking demand for the mix of uses within the proposed
development. Note there is no 10 percent reduction for shared parking applied to the
overnight parking demand as the businesses are assumed to be closed.
The Zoning Ordinance requires that 483 off-street parking stalls be constructed. The analysis of
parking demand using the formula implemented in Wayzata for mixed-use development
indicates a peak of 429 off-street parking stalls are needed, whereas the Institute of
Transportation data analysis established that 206 stalls would be required. City staff would
support use of the Wayzata methodology to determine required parking as it is within 6 stalls of
a 10 percent reduction in the Zoning Ordinance calculation based on shared parking, the
number of bedrooms per dwelling unit being less than 2.0, and the mix of proposed uses.
The submitted plans illustrate construction of 318 parking stalls within the enclosed garage,
surface parking and on-street parking on Quantrelle Avenue. The number of proposed stalls to
be constructed initially is 138 less than the number required by the Zoning Ordinance and 111
stalls less than the estimated demand using the Wayzata methodology.
Parking Area Stalls
Garage 152
Surface 136
On-Street 30
Subtotal 318
Proof-of-Parking Zone A 52
Zone B 54
On-Street 26
Subtotal 132
TOTAL 450
The proposed stalls also include 30 stalls to be constructed along the east side of Quantrelle
Avenue abutting the subject property with another 26 on-street stalls identified on the section
of Quantrelle Avenue abutting the Highway 101 Market to the north. The City has allowed for
parallel on-street parking stalls to be designed along public streets within commercial areas, but
not angled parking. Such parking stalls have been designated in other cities, but the City
Engineer and Streets Department have concerns about maintenance of the stalls during winter.
The submitted plans also identify proof-of-parking for an additional 132 stalls. The total of 450
constructed and proof-of-parking stalls still would not meet the requirements of the Zoning
Ordinance, but would exceed the number of off-street parking stalls estimated to be needed by
the Wayzata methodology. City staff recommends that a minimum of 429 parking stalls be
constructed with the PUD Development Stage Plan. The Planning Commission must provide
direction as to whether the proposed on-street parking stalls are to be allowed.
11
The standard parking stalls are designed as nine feet wide by 18 feet deep and the oversized
stalls are designed as 10 feet wide by 22 feet deep. The drive aisles within the parking garage
are 24 feet in width. The standard parking stalls and drive aisles comply with the dimensions
required by Section 11-21-7.B of the Zoning Ordinance for interior parking. The parking stalls
are to be surfaced with asphalt or concrete and surrounded by concrete curb as required by
Section 11-21-7.B, C, and D.
Pedestrian Access. There is no sidewalk on Quantrelle Avenue. Pedestrian connectivity of the
proposed development to Otsego Waterfront East and the Carrick’s Landing is to be provided
for with a trail by easement through Outlot A and Outlot B as a condition of approval.
Landscaping. The submitted plans illustrate landscaping at the perimeter of the at-grade
parking structure and upon the retail plaza. However, no landscape plan has been submitted.
A landscape plan meeting the requirements of Section 11-19-2.B if the Zoning Ordinance must
be submitted prior to consideration of the application by the City Council. The landscape plan
is to be subject to review and approval of the Zoning Administrator.
Exterior Lighting. Section 11-16-6 of the Zoning Ordinance establishes performance standards
for exterior lighting. All exterior light fixtures are to have a 90-degree horizontal cut-off and not
cast more than 0.4 foot-candles of light at the property lines as required by Section 11-16-6.C of
the Zoning Ordinance. An exterior lighting plan including photometric measurements of light
intensity and indicating the type, location, and height of all exterior light fixtures must be
submitted prior to issuance of a building permit and is subject to review and approval of the
Zoning Administrator.
Signs. The architectural plans include identification signs on the west and north elevations of
the building. Sign allowances for Lot 1, Block 1 will be established for the PUD Development
Stage Plan as wall signs affixed on any elevation up to 15 percent of the wall area, but not
including the at-grade parking garage, with the maximum area of any individual sign limited to
200 square feet.
Outlot A. Outlot A is the portion of the subject property governed by the provisions of the Wild
Scenic Recreational River District adopted by the City as Chapter 92 of the Zoning Ordinance in
accordance with Minnesota Rules. Outlot A includes an existing City park easement for a trail
along the Mississippi River extending south of Carrick’s Landing and out to Quantrelle Avenue,
as well as a drainageway overlaid by drainage and utility easement.
The developer has submitted a concept plan for potential recreational development of Outlot
A. Private and public recreational activities are an allowed use within Subdistrict C of the WSRR
District subject to management plan standards. These proposed improvements are not being
considered as part of the current PUD Development Stage Plan application. Future proposals to
undertake these improvements will require a separate application for PUD Development Stage
plan approval.
12
As part of the development of Outlot A, the City reserves the right to require dedication of land
and/or park and trail easement for public access to the area, as well as ingress/egress and
shared parking easements over Lot 1, Block 1 for public park purposes. Public access would be
finalized as part of the PUD Development Stage Plan for Outlot A as a condition of approval.
Utilities. The proposed development is to be served by City sewer and water utilities. There
are existing trunk sewer and water lines within Quantrelle Avenue adjacent to the subject site.
The developer has submitted plans for connection to sewer and water utilities, as well as
improvement of the existing sewer lift station in Quantrelle Avenue at necessary to
accommodate the proposed development. All utility plans are subject to review and approval
of the City Engineer.
The developer is required to pay Utility Availability Charges at the time of final plat approval.
The Utility Availability Charges are to be based on a Residential Equivalent Connection (REC)
equated to the estimated sewer flow for the proposed development.
Utility Connection Charges calculated in accordance with the provisions of the City Code will be
required to be paid at the time a building permit is issued.
Grading Plan. All of Outlot A and Outlot B are within the Floodway zone along the Mississippi
River.
Outlot A is bisected north-to-south by a drainageway overlaid by a drainage and utility
easement to provide an outlet for the City regional stormwater basin to the north within Outlot
A, Waterfront East. The outlet for the regional stormwater basin must be maintained as part of
the grading plan for the subject site to the point at which the stormwater is discharged to the
Mississippi River.
The developer continues work with the Army Corps of Engineers for approval to add fill to the
Floodway to allow for Outlot B to be developed with future phases in accordance with the
concept plans for the development. Plans for development of Outlot B are not included in the
current PUD Development Stage Plan application.
All floodplain, grading, drainage, and erosion control issues are to be subject to review and
approval of the City Engineer.
Easements. Section 11-8-12.A of the Subdivision Ordinance requires 10 foot wide drainage and
utility easements to be dedicated at the perimeter of Lot 1, Block 1, which are shown on the
preliminary plat. Temporary drainage and utility easements that expire upon platting will only
be required over Outlots A, B, and C. All drainage and utility easements are to be subject to
review and approval of the City Engineer.
13
Outlots. The preliminary plat includes three outlots. Outlot A is is proposed to be retained by
the developer for future quasi-commercial outdoor recreation uses. Outlot B is within the
Floodway but outside of the WS District, which the developer will retain for potential future
development. Outlot C is a remnant parcel to the south of a Minnesota Department of
Transportation outlet to the Mississippi River that will also be retained by the developer for
potential future development.
Park Dedication. The PUD Development Stage Plan does not contemplate dedication of land to
the City for public park purposes. The City will reserve the right to require dedication of land
and or easements over Outlot A for public park purposes as part of a future PUD Development
Stage Plan when improvement of Outlot A is proposed. For the current PUD Development
Stage Plan, park dedication requirements are to be satisfied as a cash fee in lieu of land based
on the fee schedule in effect at the time of final plat approval.
Development Contact. Section 10-10-4.A of the Subdivision Ordinance requires that the
developer enter into a development contract with the City to provide for construction of the
project, completion of any public improvements, establishment of required securities, and
payment of applicable fees. The development contract will address performance relative to the
PUD Development Stage Plan as required by Section 11-9-7 of the Zoning Ordinance. The
development contract is to be executed by the developer prior to approval by resolution of the
City Council and recorded with the property.
RECOMMENDATION
Mississippi Landings is a unique opportunity for a mixed-use development maximizing the
amenity value of the subject site’s proximity and views of the Mississippi River. The proposed
development implements recommendations of 2023 Comprehensive Plan, expands housing
options within Otsego, and would increase public access to the Mississippi River. The proposed
PUD Development Stage Plan is consistent with the intent of the Zoning Ordinance and
Subdivision Ordinance. Our office recommends approval of the applications as outlined below.
POSSIBLE ACTIONS
A. Motion to recommend approval of a PUD District amendment, PUD Development Stage
Plan, preliminary plat, and vacation drainage and utility easements and park and trail
easements for Mississippi Landings, subject to the following comments:
1. Approval of the preliminary plat shall not guarantee access to sanitary sewer
service. The City shall only allocate sanitary sewer capacity to approved final plats
with signed development contracts to assure the City of timely development.
14
2. The subject site shall be developed in accordance with the site and building plans
submitted to the City subject to the stipulations, limitations, and conditions as
approved by the City Council in accordance with Section 11-9-4 of the Zoning
Ordinance.
3. The exterior finish materials for the proposed building shall comply with Section
11-17-4.D.1 of the Zoning Ordinance, subject to review and approval of the
Planning Commission.
4. The floor area of individual multiple family dwelling units shall comply with
Section 11-17-6 of the Zoning Ordinance, unless approved by City Council.
5. The developer shall verify that the site access and circulation complies with the
Fire Code, subject to review and approval of the Emergency Services Director.
6. Street lighting shall be installed along Quantrelle Avenue from Otsego
Waterfront East abutting the Nathe Addition and proposed plat as required by
Title 8, Chapter 8 of the City Code, subject to review and approval of the City
Engineer.
7. A minimum of 429 parking stalls shall be constructed with the PUD Development
Stage Plan.
8. Construction of parking stalls on Quantrelle Avenue shall be subject to approval
of the City Council, subject to the following if allowed:
a. The design and construction of parking stalls on Quantrelle Avenue shall
be subject to review and approval of the City Engineer.
b. The City Council shall consider a resolution concurrent with application
for final plat approval establishing a no-parking zone between the hours
of 2:00AM and 6:00AM each day for parking stalls on Quantrelle Avenue
abutting the subject property.
9. The developer shall dedicate an easement to the City allowing public parking
within the surface parking of Lot 1, Block 1 for access to Outlot A, subject to
review and approval of the Zoning Administrator.
9. The submitted plans shall be revised to include a pedestrian connection from the
proposed building to the public trail at Carrick’s Landing through Outlot A and
Outlot B overlaid by a public trail easement, subject to review and approval of
City staff.
15
10. A landscape plan meeting the requirements of Section 11-19-2.B of the Zoning
Ordinance, subject to review and approval of the Zoning Administrator, shall be
submitted prior to consideration of the application by the City Council.
11. An exterior lighting plan including photometric measurements of light intensity
and indicating the type, location, and height of all exterior light fixtures in
compliance with Section 11-16-6 of the Zoning Ordinance shall be submitted and
is subject to review and approval of the Zoning Administrator.
12. Lot 1, Block 1 shall be allowed only wall signs on any elevation up to 15 percent
of the wall area, but not including the at-grade parking garage, with the
maximum area of any individual sign limited to 200 square feet; a sign permit is
required prior to placement of any sign upon the property, subject to review and
approval of the Zoning Administrator.
13. All utility plans shall be subject to review and approval of the City Engineer.
14. The developer shall pay Utility Availability Charges at the time of final plat
approval based on a Residential Equivalent Connection (REC) equated to the
estimated sewer flow for the proposed development.
15. All floodplain, grading, drainage, and erosion control plans and issues shall be
subject to review and approval of the City Engineer.
16. Outlot A, Outlot B, and Outlot C shall be overlaid by temporary drainage and
utility easements to expire upon approval of a final plat as a Lot/Block and/or
PUD Development Stage Plan.
17. All drainage and utility easements shall be subject to review and approval of the
City Engineer.
18. Park dedication requirements for the preliminary plat shall be satisfied as a cash
fee in lieu of land calculated and paid at the time of final plat approval.
19. The City reserves the right to required dedication of land and or easement for
park purposes over Outlot A as a condition of a future PUD Development Stage
Plan approval.
20. The developer shall enter into a development contract as required by Section 10-
10-4.A of the Subdivision Ordinance and Section 11-9-7 of the Zoning Ordinance,
subject to review by the City Attorney and approval of the City Council.
B. Motion to deny the applications based on a finding that the request is inconsistent with
the policies of the Comprehensive Plan and intent of the Zoning Ordinance and
Subdivision Ordinance.
16
C. Motion to table.
c. Adam Flaherty, City Administrator/Finance Director
Audra Etzel, City Clerk
Ron Wagner, City Engineer
David Kendall, City Attorney
Site Location Map
460 ft
Overview
Legend
Roads
CSAHCL
CTYCL
MUNICL
PRIVATECL
TWPCL
Road Labels
Highways
Interstate
State Hwy
US Hwy
City/Township Limits
c
t
Parcels
Torrens
Dear Mayor, Council members, and planning commission members,
I am writing to provide you with some of the significant updates to the Mississippi Landings project since the
last preliminary plat approval. I have made some design tweaks to address the safety and building height
concerns, obtained a parking study to review the parking needs, and worked with the parks department to
review the future park plans and outline a park easement.
In addition to the work above I have purchased the land, completed a full set of architectural schematic plans,
determined my General Contractor partner, and have started preparing the project website and marketing
materials.
In line with the project goal of creating a downtown main street destination for local residents and also a
regional destination to showcase the City of Otsego I have renamed the project the Otsego Waterfront District.
This will provide a great branding opportunity for the project and city as a regional destination and will not be
confused with the many other Mississippi branded projects like in Champlin.
During the previous approval I heard concerns about the project height and safety and in that regard, I have
lowered the elevator and stair landings by 1 floor so less time to evacuate will be needed, I also reduce the
building height along 101 by 1 floor to be able to provide a softer transition to the top floor. All rooftop
amenities have been lowered so there won’t be any need for the extra elevator rooms and therefore reducing the
tallest height of the building by over 10’. The final look of the project is something I hope the entire city and all
council and planning members can be proud of as I am.
As part of the parking discussion, it was clear there is solid concern over having enough parking spaces, to be
efficient with parking and natural resources as well as providing some data with real world parking needs I
ordered a parking study. The parking study suggests, based on a similar project in the state (Wayzata) and
using ITE CODE that less than 200 stalls of parking would be needed when factoring for time of day, mixed
use, and type of use parking. Previously I had requested 231 stalls of onsite parking. For this approval I am
proposing installed parking of 327 stalls and showing additional proof of parking of 101 stalls bringing the total
available stalls to 427 stalls if needed. With this request I am also proposing to install public electric car
charging and dedicated parking for park access as well as crating a protected sidewalk along Quantrelle Ave. I
believe this will be a great benefit to the city residents who want to access the existing city park and amenities
as well as installing trail access to the future park development.
I am also happy to announce that I will be working with Bauer Design Build out of Plymouth Minnesota to
complete the construction for the project. Bauer has extensive experience with similar sized and larger projects
and will also be joining the development team. Having Bauer on as the general contractor and joining the
development team is a testament to quality of the project proposed and the benefits it will bring to the city and
region.
I thank everyone for their consideration of the Otsego Waterfront Project and look forward to answering
additional questions in person.
DRAFT Memorandum
www.srfconsulting.com
3701 Wayzata Boulevard, Suite 100 | Minneapolis, MN 55416-3791 | 763.475.0010 Fax: 1.866.440.6364
An Equal Opportunity Employer
SRF No. 16653.00
To: Jesse G. Hartung, President
Modern Construction of Minnesota, Inc.
From: Tom Sachi, PE, Project Manager
Zach Toberna, PE, Traffic Engineer
Date: April 13, 2023
Subject: Mississippi Landing Parking Study
Introduction
SRF has completed a parking study for the proposed mixed-use development located in Otsego, MN
(see Figure 1). Note, the development includes 231 parking stalls that are not intended to be reserved
for any user, including garage space, based on discussions with the development team. The site plan
is shown in Figure 2. The main objectives of this study are to identify future parking demand during
different times of the day using various resources and determine potential parking supply
surplus/deficits. The following sections provide the assumptions, analysis, and study conclusions
offered for consideration.
City Code Parking Assessment
A review of the Otsego City Code was completed to understand the City’s parking requirements for
the proposed development. The proposed land uses, sizes, and Code required rates and stalls are
shown in Table 1.
Table 1. Otsego City Code Off-Street Parking Requirements
Based on the City of Otsego Code Requirements, the proposed development is expected to have a
deficit of 225 parking stalls to meet City Code. However, in an effort to reduce overbuilding parking
and promote the shared use of parking on site, additional resources were reviewed to determine if a
lower required number of parking stalls could be estimated. This would take into account that the
proposed mix of land uses are not all expected to peak at the same time and therefore the apartment
could share parking with the commercial land uses.
Land Use Type Size Code Rate Code
Requirement
Multifamily Housing 140 Units 2 stalls per unit 280
Office Space 6,500 SF 1 stall per 200 SF 33
Retail 9,950 SF 1 stall per 200 SF 50
Restaurant 4,350 SF 1 stall per 40 SF Dining, 80 SF of Kitchen 93
Total Code Required Stalls 456
Proposed Parking Supply 231
Surplus/(Deficit) (-225)
02316653
April 2023
Project Locaton
Mississippi Landing Parking Study
City of Otsego, MN
Figure 1NORTHNorthProject
Location
10
101
Quantre
l
le
AveParrish Ave NE42
WRIGHT
COUNTY
39
WRIGHT
COUNTY Mississippi River
NORTHNorthSite Plan
02316653
April 2023
Figure 2Mississippi Landing Parking Study
City of Otsego, MN
Mississippi Landing Parking Study April 13, 2023
Page 4
The Otsego City Code does not currently have parking code requirements for time of day for specific
land uses, therefore, SRF reviewed the City of Wayzata Parking Code which includes a table detailing
estimated percent reductions by time of day and land use. The City of Wayzata represents another
Twin Cities outer ring suburb that has comparable parking expectations to that of users in the City of
Otsego. The time of day shared parking percentages are attached to this report. Using the City of
Wayzata shared parking percentages, an estimate of the time of day parking for a weekday was
completed and shown in Table 2.
Table 2. Otsego City Code Off-Street Parking Requirements
With the time of day shared parking estimates included in Code Required parking stalls, it is expected
that 405 parking stalls would be required between 6:00 p.m. to 12:00 midnight, which would yield a
deficit of 174 parking stalls.
While a deficit is still expected, there is a potential there could be further reduction in the number of
parking stalls needed for the development due to opportunities for multi-use on site. Additionally, the
development team is planning to include shared vehicles available for rent within the bu ilding. The
multi-use reduction accounts for users who may live at the apartment and utilize the retail/restaurant
components or users who visit more than one retail/restaurant location during a trip. It is estimated
that a 10 percent reduction in the required number of parking stalls could be implemented to account
for this. Additionally, research has indicated that if car sharing (i.e. hourly rental vehicles) is available
on site of a residential development, there is an estimated 10 to 20 percent reduction in the number
of parking stalls needed to accommodate residents. This car sharing program would reduce the need
for tenants to own a vehicle or multiple vehicles for families by allowing for an easy solution to get to
and from destinations while allowing the ability to not own a veh icle. This could be ideal for tenants
who work from home and do not have regular commuting patterns which has become more common
since the COVID-19 Pandemic. Therefore, the time of day estimates were reduced using these
reduction estimates as shown in Table 3.
Land Use Type Otsego Code
Requirement
Wayzata Time of Day Shared Parking Estimate
12:00 midnight
to 7:00 a.m.
7:00 a.m. to
6:00 p.m.
6:00 p.m. to
12:00 midnight
Multifamily Housing 280 280 168 280
Office Space 33 2 33 2
Retail 50 0 45 30
Restaurant 93 9 65 93
Total Code Required Stalls 456 291 311 405
Proposed Supply 231
Surplus/(Deficit) (-225) (-60) (-80) (-174)
Mississippi Landing Parking Study April 13, 2023
Page 5
Table 3. Otsego City Code Off-Street Parking Requirements
(1) There is not expected to be a multi-use reduction overnight as business are closed.
(2) Car Share Reduction is only applied to the residential land use.
There is still expected to be a 91 stall deficit for the site based on the City Code and potential shared
parking, time of day, and parking reductions. Therefore, in order to meet Code requirements,
additional parking may be necessary. Note, SRF has found through completion of parking studies that
City Code’s often overestimate the required parking needs due to the historical nature of the codes
and the changes in travel behaviors in 2023. Given this potential overestimation from a Code
perspective, a review of actual parking rates for the proposed development land uses is recommended
to be completed to provide a comparison between Code and surveyed parking information.
ITE Parking Assessment
In addition to reviewing City Code requirements and potential reductions, SRF reviewed parking
estimates from the Institute of Transportation Engineering (ITE), which are estimated based on
parking utilization surveys completed throughout the United States. Parking generation estimates for
the proposed land uses were developed using the ITE Parking Generation Manual, Fifth Edition for
average peak demand rates (by time of day) for a typical weekday to determine the future parking
demand at the proposed development site. Note, the estimates from ITE were estimated using the
square footages and unit counts of the proposed developments and based on general suburban rates.
The time of day estimates using ITE are shown in Table 4. Note, based on the mix of land uses, it is
anticipated that there could be up to a 10 percent multi-use reduction applied to the parking estimates.
Based on the ITE Parking Generation estimates with no multi-use reduction, there is expected to be
a surplus between 40 to 105 parking stalls for the proposed development. With the additional potential
multi-use reduction, it is expected that there could be a surplus between 48 to 116 parking stalls. With
the expected surplus, there is not expected to be a parking supply issues for the proposed
development, based on the estimated ITE demand.
Land Use Type Otsego Code
Requirement
Wayzata Time of Day Shared Parking Estimate
12:00 midnight
to 7:00 a.m.
7:00 a.m. to
6:00 p.m.
6:00 p.m. to
12:00 midnight
Total Code Required Stalls 456 291 311 405
Multi-use Reduction (10%) (-46) 0 (1) (-31) (-41)
Car Share Reduction (15%) (2) (-42) (-42) (-25) (-42)
New Code Requirement 368 249 255 322
Proposed Supply 231
Surplus/(Deficit) (-137) (-18) (-24) (-91)
Mississippi Landing Parking Study April 13, 2023
Page 6
Table 4. Estimated Average Peak Parking Demand
Land Use Type (ITE Code) Parking Demand by Time Period (Typical Weekday)
Overnight 10:00 a.m. 2:00 p.m. 7:00 p.m.
Mid-Rise Multifamily Housing (221) 183 99 90 129
General Office Building (710) 0 16 15 2
Shopping Center (820) 0 0 20 18
High-Turnover Restaurant (932) 0 11 21 42
Total Demand 183 126 146 191
Proposed Supply 231
Surplus/(Deficit) +48 +105 +85 +40
Total Demand (w/ 10% Reduction) 183(1) 115 132 173
Proposed Supply 231
Surplus/(Deficit) +48 +116 +99 +58
(1) There is not expected to be a multiuse reduction overnight as business are closed.
Parking Comparison
It is expected that based on the City Parking Code 456 parking stalls would be required for the
proposed development. However, when considering a similar type of suburban City time of day shared
parking percentages and car sharing and multi-use reductions, City Code may require only 322 parking
stalls. This would represent a deficit between 91 to 225 parking stalls for the site.
In comparison, ITE estimates from similar surveyed land uses indicate that the site is expected to have
an average peak demand of 173 to 191 parking stalls at approximately 7:00 p.m. This would yield a
surplus between 40 to 58 parking stalls. There is also potential for additional surplus with available car
sharing on-site, as well.
Given that City Code parking requirements are often historical and do not account for updated travel
behaviors in 2023, it is recommended that the ITE parking estimates be considered for the proposed
development. These parking estimates are based on real world examples throughout the United States
and help minimize over building parking, which contributes to a loss of green space, additional
impervious surface, and can have a very high monetary cost.
020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$&29(56+((7$%9 $%29($&& $&&(66,%/($)) $%29(),1,6+(')/225$/80 $/80,180$3352; $3352;,0$7(%/.* %/2&.,1*%27 %27720%2: %277202):$//%3/ %($5,1*3/$7(&% &$7&+%$6,1&,3 &$67O13/$&(&- &21752/-2,17&/ &(17(5/,1(&/* &(,/,1*&/5 &/($5&08 &21&5(7(0$6215<81,7&21& &21&5(7(&217 &217,18286&37 &$53(7&56 &2856(&7 &(5$0,&7,/('(02 '(02/,6+25'(02/,7,21') '5,1.,1*)2817$,1',$ ',$0(7(5',0 ',0(16,21'1 '2:1'5 '225'6 '2:163287'7/ '(7$,/': ',6+:$6+(5(- (;3$16,21-2,17(/ (/(9$7,21$%%5(9,$7,216$//1(&(66$5<$1'255(48,5('7(676,163(&7,2166+23'5$:,1*5(9,(:6$1''5$:,1*,17(535(7$7,2165(48,5('%<7+(*(1(5$/&21',7,2166+$//%((;(&87('%<$5(*,67(5('$5&+,7(&7$1'25%<$5(*,67(5('(1*,1((5,)1277+($5&+,7(&72)5(&25'$1'257+((1*,1((52)5(&25'6+$//%(+(/'+$50/(66)257+$73257,212)7+(:25.,03523(5/<(;(&87('7+(,163(&7,21$5&+,7(&7$1'25(1*,1((56+$//%(&20(5(63216,%/()257+26(,163(&7,216'(&,6,216$1'25'2&80(17,17(535(7$7,2160$'($67+(<5(/$7(727+(&2175$&7'2&80(176$1'7+(,5,17(17$//&216758&7,216+$//0((7$//$33/,&$%/(&2'(6$1'0267675,1*(176+$//$33/<',0(16,216*,9(1)250$6215<21$5&+,7(&785$/'5$:,1*6$5(120,1$/81/(6627+(5:,6(127('6&$/('0($685(0(1762)'5$:,1*66+$//127%($//2:('',0(16,21)25678':$//6$5(72)$&(2)678'$1'',0(16,216)250$6215<:$//6$5(72)$&(2)%/2&.81/(6667$7('27+(5:,6(*(1(5$/127(66,7(/2&$7,210$3352-(&76800$5<6+((7,1'(;$5&+,7(&7020(1780'(6,*1*5283-HVVH+DPHU3ULRU$YH1$6W3DXO01MHVVH#PGJDUFKLWHFWVFRP'(9(/23(5-HVVH+DUWXQJ-HVVH+DUWXQJ2JGHQ6WUHHW1:(ON5LYHU01&(//_2)),&(_1$0(#&203$1<&20/$1'6&$3($5&+,7(&7&203$1<1$0(1$0($''5(66&,7<67$7(&(//_2)),&(_1$0(#&203$1<&20&,9,/(1*,1((5'(0$5&/$1'6859(5<,1*-HIIHU\$3UDVFK2JGHQ6WUHHW1:(ON5LYHU01MHIISUDVFK#GHPDUFKLQFFRP*(1(5$/&2175$&725%$8(5'(6,*1%8,/'3HWH9DQDVVHVW$YH13O\PRXWK01&(//_2)),&(_SHWHY#EDXHUGEFRP6758&785$/(1*,1((5(5$(1*,1((5,1*-RKQ0DGGHQ8QLYHUVLW\$YH:46WH66W3DXO01&(//_2)),&(_MPDGGHQ#HUDHQJFRP276(*2:$7(5)5217',675,&7'(6,*1'(9(/230(176(748$175(//($9(276(*201(/(& (/(&75,&$/(3 (/(&75,&$/3$1(/(4 (48$/(;+ (;+$867(;,67 (;,67,1*(;3 (;3$16,21(;7 (;7(5,25)$ ),5($/$50)' )/225'5$,1)(& ),5((;7,1*8,6+(5&$%,1(7)) ( )851,785(),;785(6$1'(48,30(17))(/ ),1,6+)/225(/(9$7,21)+ ),5(+<'5$17)1' )281'$7,21)7* )227,1**$ *$8*(*$/9 *$/9$1,=('*% *5$%%$5*& *(1(5$/&2175$&725*<3 *<3680+% +26(%,%%+& +$1',&$33('+':5 +$5':$5(+0 +2//2:0(7$/+7 +(,*+7+9$& +($7,1*9(17,/$7,21$1'$,5&21',7,21,1*,' ,16,'(',$0(7(5,1&/ ,1&/8'(',1&/8',1*,168/ ,168/$7,21,17 ,17(5,25,19 ,19(57-67 -2,67/$0 /$0,1$7(/$9 /$9$725</+ /()7+$1'/7 /,*+70$6 0$6215<0$7 0$7(5,$/0(&+ 0(&+$1,&$/0)5 0$18)$&785(50,6& 0,6&(//$1(28602 0$6215<23(1,1*07/ 0(7$/1,& 127,1&2175$&712 180%(5176 127726&$/(2& 21&(17(52' 2876,'(',$0(7(52+ 29(5+($'2+' 29(5+($''22523+ 23326,7(+$1'231* 23(1,1*233 23326,7(3$5 3$5$//(/3$57 3$57,7,213& 35(&$673/ 3523(57</,1(3/$0 3/$67,&/$0,1$7(33 32:(532/(36) 3281'63(5648$5()22736, 3281'63(5648$5(,1&+37 35(6685(75($7('3907 3$9(0(1747 48$55<7,/(5 6 52'$1'6+(/)5$ 5(7851$,55$' 5$',865&3 5()/(&7('&(,/,1*3/$15' 522)'5$,15) 52&.)$&(5+ 5,*+7+$1'50 522052 528*+23(1,1*52: 5,*+72):$<5:/ 5$,1:$7(5/($'(56& 62/,'&25(6) 648$5()((7)2276+5 6+2:(56+7* 6+($7+,1*6,0 6,0,/$563(& 63(&,),&$7,2164 648$5(667/ 67$,1/(6667((/67& 6281'75$160,66,21&2()),&,(176758&7 6758&785$/775($'72 7232)72& 7232)&21&5(7(726 7232)6/$%72: 7232):$//7<3 7<3,&$/81),1 81),1,6+('812 81/(66127('27+(5:,6(9&7 9,1</&20326,7,217,/(9,) 9(5,)<,1),(/'97 9,1</7,/($5&+,7(&785$/6KHHW1XPEHU 6+((71$0(&XUUHQW5HYLVLRQ'DWH$ &29(56+((7$ &2'($1$/<6,63/$16$ &2'(3/$16$ &2'(3/$16$ :$//7<3(6$1'$66(0%/,(6$ )/225$1'522)$66(0%/,(6$ 6,7(3/$1$ ),567)/2253/$1$ 6(&21')/2253/$1$ 7+,5'$1')2857+)/2253/$1$ ),)7+$1'6,;7+)/2253/$1$ 6(9(17+$1'522))/2253/$1$ (;7(5,25(/(9$7,216$ (;7(5,25(/(9$7,216$ :,1'2:6&+('8/($1'7<3(6$ 6725()5217(/(9$7,216$ :,1'2:'(7$,/6$ :,1'2:'(7$,/6$ 81,7$ $$/&29($ 81,7$ $$/&29($ 81,7$$/&29($ 81,7% &$/&29($ 81,7&$/&29($ 81,7' '%('$ 81,7(%('$ 81,7)%('$ 81,7* +%('$ 81,7, -%('$ 81,7. /%('$ 81,70%('$ 81,71%('$ 81,72%('$ 81,73%('$ 81,74%('$ 81,75%('$ 81,76%('$ (1/$5*('3/$16$ (1/$5*('3/$16$ (1/$5*('3/$16$ %8,/',1*6(&7,216$ :$//6(&7,2167<3,&$/$ :$//6(&7,216$ ,17(5,25(/(9$7,216&,9,/6+((7 6+((71$0(6KHHW,VVXH'DWH&XUUHQW5HYLVLRQ'DWH&XUUHQW5HYLVLRQ& 7,7/(6+((7 & '(7$,/6 & '(7$,/6 & '(7$,/6 & (;,67,1*&21',7,216 5(029$/& 6,7(3/$1 & *5$',1* '5$,1$*(3/$1 & 87,/,7<3/$1 & 6$1,7$5<)25&(0$,13/$1 352),/(& /,)767$7,213/$1 352),/( & /,)767$7,213/$1 352),/( & 67250:$7(532//87,2135(9(17,213/$1& 67250:$7(532//87,2135(9(17,213/$1127(6& 0$67(567250:$7(53/$1 6758&785$/6+((76+((71$0(6KHHW,VVXH'DWH&XUUHQW5HYLVLRQ'DWH&XUUHQW5HYLVLRQ6 6758&785$/1$55$7,9(/$1'6&$3(6+((7 6+((71$0(6KHHW,VVXH'DWH&XUUHQW5HYLVLRQ'DWH&XUUHQW5HYLVLRQ/ /$1'6&$3(6+((7 975 9(177+528*+522)9:& 9,1</:$//&29(5,1*:& :$7(5&/26(7:' :22':': :,1'2::+ :$7(5+($7(5:3 :$7(53522),1*:30 :$7(53522)0(0%5$1(::) :(/'(':,5()$%5,&*5266$5($%<)/225VW)ORRU6)QG)ORRU6)UG)ORRU6)WK)ORRU6)WK)ORRU6)WK)ORRU6)WK)ORRU6)7RWDO6)81,70,;%<7<3(81,7$6)81,7$6)81,7$6)81,7$6)81,7$6)81,7%6) 81,7& 6)81,7& 6)81,7' 6)81,7' 6) 81,7(6)81,7)6) 81,7*6)81,7+6)81,7,6)81,7-6)81,7.6)81,7/6) 81,706)81,716)81,726) 81,736) 81,746)81,756)81,766)727$/81,763$5.,1*685)$&(675((7*$5$*(727$/3$5.,1*'' ''6(7
83),5(5$7(':$///(*(1'+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7('(;7(5,25%($5,1*:$//61223(1,1*3527(&7,215(48,5('+2855$7('(;7(5,25:$//61223(1,1*3527(&7,215(48,5('+2855$7(',17(5,25:$//61223(1,1*3527(&7,215(48,5('602.(3$57,7,21:602.(5$7('23(1,1*6$//2:$%/($5($&$/&8/$7,216%$6,&$//2:$%/($5($016%&7$%/(%8,/',1*3(5,0(7(52138%/,&:$<!)((7016%&3$5$*5$3+%8,/',1*3(5,0(7(52)(17,5(%8,/',1*016%&3$5$*5$3+0,1,080:,'7+2)38%/,&:$<2523(163$&(016%&3$5$*5$3+)5217$*(,1&5($6($5($016%&3$5$*5$3+,) >)3 @:727$/$//2:$%/($5($3(5)/225016%&3$5$*5$3+$1'7$%/($D >$W1V[,I@0,;('2&&83$1&<08/7,6725<%8,/',1*6016%&3$5$*5$3+5$7,22)$**5(*$7(68062)7+($5($6727$/$//2:$%/($5($,%&3$5$*5$3+$&78$/)/225$5($81/,0,7('1$1$1$1$1$1$81/,0,7('648$5()((76)56)12786('12786('12786('12786('$D >6)6)[@$D 6)7+)/225$5($ 6)6)6) 6)[ 6)08/7,)$0,/<0,;('86(&2'($1$/<6,6 -85,6',&7,21$/$1$/<6,6$02675(675,&7,9($6)12786('12786('12786('12786('$D >6)6)[@$D 6)7+)/225$5($ 6)6)6) 6)[ 6)5')/225 7+)/2252&&83$1&<*52836016%&&+$37(5016%&7$%/($1')227127(6&216758&7,217<3(),5(5$7,1*016%&&+$37(50$;,080180%(52)6725,(6 0$;,080+(,*+7:,7+$8720$7,&635,1./(56<67(0,1&5($6(016%&7$%/(),567)/225 1')/22565$$0%,$81/,0,7('6725,(681/,0,7('+(,*+708/7,)$0,/<0,;('86(&2'($1$/<6,6 -85,6',&7,21$/$1$/<6,6%8,/',1*'(6,*1$1'&216758&7,21016%&%8,/',1*66(3$5$7(':,7+$+25,=217$/$66(0%/<6+$//&203/<%<+$9,1*$),5(5(6,67$1&(5$7,1*2)127/(667+$1+2856%8,/',1*%(/2:7+(+25,=217$/$66(0%/<,62)7<3(,$&216758&7,215$7('$66(0%/,(6127('%(/2:'5$:,1*6$1'&216758&7,216+$//&203/<:,7+0,11(627$67$7(%8,/',1*&2'($6$'237(',1,1&/8',1*,17(51$7,21$/%8,/',1*&2'(<($5(',7,21$6$'237('48$/,),('$1'$0(1'('%8,/',1*&203/,(6:,7+01$&&(66,%,/,7<&2'(5(6,'(17$/5')/225 7+)/2255$,,,$6725,(6)25$86(6)((7,1+(,*+7),567)/225 1')/2256)6) 6)6)[ 6)6)2&&83$1&<6(3$5$7,215(48,5(0(1762&&83$1&<6(3$5$7,2166+$//%(&216758&7('$6),5(5(6,67$1&(5$7('),5(%$55,(5:$//6,%& 7$%/( ,1&,'(17,$/86($5($6(3$5$7,216016%&3$5$*5$3+ 016%&7$%/(),5(5(6,67$1&(5$7,1*6)25)2//2:,1*%8,/',1*(/(0(176016%&7$%/( 6758&785$/)5$0( (;7(5,25%($5,1*:$//6 ,17(5,25%($5,1*:$//6 (;7(5,25121%($5,1*:$//6 ,17(5,25121%($5,1*:$//6 )/2256<67(0 522)6<67(07<3(,$&216758&7,21+2856+2856+28561$+2856+2856+28567<3(,,,$&216758&7,21+285+285+2853(57$%/( +285#1257+:$//+285+285+285$1$8720$7,&635,1./(56<67(0&203/<,1*:,7+1)3$6+$//%(,167$//('7+528*+2877+(%8,/',1*),5(5(6,67$1&(5$7,1*6 5(48,5(0(176$&&(66,%/(0($162)(*5(666+$//%(3529,'('9,$67$,5 (/(9$725$&&(66,%/(0($162)(*5(66,%&6(&7,216(3$5$7('2&&83$1&,(66(&7,212&&83$1&<6(3(5$7,215(48,5('%(7:((17+(5$1'$86(65(48,5($+2855$7('),5(%$55,(5:$//$8720$7,&635,1./(56<67(0,%&6(&7,21$1'7:2$&&(66,%/(0($162)(*5(665(48,5(')25*52835:+(1*5($7(57+$12&&83$176)/225016%&7$%/(0($162)$&&(66,%/((*5(663529,'('$7($&+5(6,'(17,$//(9(/6+$)7(1&/2685(6&+87($&&(66&+87(',6&+$5*(67$,56(/(9$725675$6+&+87(6$1'23(1,1*3527(&7,216016%&7$%/(121(5(48,5(':,7+$8720$7,&635,1./(56<67(0+5),5(%$55,(56:0,123(1,1*6+5),5(%$55,(56:0,123(1,1*6+5),5(%$55,(56:0,123(1,1*667$,5:$<:,7+,19(57,&$/(;,7(1&/2685(016%&6(&7,216((&2'(3/$16)2567$,5:,'7+&$/&8/$7,216:,'7+2),17(5,25(;,767$,5:$<6,%&6(&7,21(;&(37,21,17(5,25(;,767$,5:$<66+$//+$9(0,1,080:,'7+%(7:((1+$1'5$,/6,61275(48,5(':,7+$1$8720$7,&635,1./(56<67(06(3$5$7,215(48,5(0(176:,7+,1)/22567+528*+2&&83$1&<6(3(5$7,215(48,5('%(7:((17+(5$1'$,17<3(,,,$&216758&7,212&&83$1&<6(3$5$7,21:$//6,%&6(&7,21:$//66(3$5$7,1*':(//,1*81,766+$//%(&216758&7('$6+285),5(3$57,7,216:,7+0,123(1,1*6,1$&&25'$1&(:,7+016%&6(&7,21 81,76(3$5$7,21:$//6 23(1,1*6,1),5(3$57,7,2166(59,1*$681,76(3$5$7,21:$//6016%&6(&7,21 +285),5(5(6,67$1&(5$7('),5(3$57,7,2166+$//%(&216758&7('72(;7(1')5207232))/225&(,/,1*$66(0%/<%(/2:727+(81'(56,'(2)7+()/225&(,/,1*25522)&(,/,1*$66(0%/<$%29(&217,18,7<2)),5(3$57,7,216,%&6(&7,21)/225$66(0%/,(66(3$5$7,1*':(//,1*81,76$1'6/((3,1*81,766+$//%(&216758&7('$6+25,=721$/$66(0%/,(6,1$&&25'$1&(:,7+6(&7,21+25,=217$/6(3$5$7,216016%&6(&7,21+25,=217$/)/225$66(0%/,(66(3$5$7,1*':(//,1*81,76$1'6/((3,1*81,766+$//%(&216758&7('$6+285),5(5(6,67$1&(5$7(')/225$66(0%/,(6+25,=217$/$66(0%/,(6016%&6(&7,21+25,=217$/)/225&(,/,1*$66(0%/,(66+$//%(&216758&7('$6+25,=217$/$66(0%/,(6&217,18286:223(1,1*63(1(75$7,21625-2,176(;&(37$63(50,77('%<9$5,286&2'(6(&7,216,1&/8',1*%87127/,0,7('726(&7,216$1'&217,18,7<2)+25,=217$/$66(0%/,(6016%&6(&7,21&255,'25:$//66+$//%(&216758&7('$6+2855$7('),5(3$57,7,216:,7+0,123(1,1*6,1$&&25'$1&(:,7+6(&7,21&255,'25:$//6<67(06 23(1,1*6,1),5(3$57,7,2166(59,1*$6&255,'25:$//6016%&6(&7,21 0,11(627$67$7((1(5*<&2'(&203/,$1&(6+$//%('(021675$7('86,1*7+(727$/%8,/',1*3(5)250$1&(0(7+2'6(&7,21&$16,$6+5$(,(667$1'$5'%8,/',1*(19(/23((19(/23(75$'(2))237,21$1$/<6,69,$&20&+(&.6+$//%(3529,'('81'(56(3$5$7(&29(5$5($2)5()8*($767$,5,61275(48,5('$63(5016%&(;&(37,211275(48,5(':,7+$1$8720$7,&635,1./(56<67(0(/(9$725/2%%<(1&/2685(016%&(;&(37,21$5($2)5()8*($7(/(9$725,61275(48,5('$63(5016%&(;&(37,211275(48,5(':,7+$1$8720$7,&635,1./(56<67(0:$//62)/2%%<$1'23(1,1*6,172/2%%<6+$//0((7602.(3$57,7,215(48,5(0(176016%&$1':$//66+$//%(602.(3$57,7,216:,7+602.(5$7(''2256$63(5016%&7:2&20081,&$7,216<67(0016%&5(48,5('$71'7+587+)/225(/(9$725/2%%,(61216(3$5$7('2&&83$1&,(66(&7,212&&83$1&<),;785(5$7,2/$9$725<5$7,20(1),;785(6&2002163$&(3/80%,1*),;785(&$/&8/$7,2167$%/(180%(52)2&&83$176%27+6(;(60:$66(0%/<%86,1(66:20(1),;785(6 ),567)/2256(&21')/225$66(0%/< 5(67$85$17 3/$=$'(&. 6.</281*( 6,;7+)/225+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('75$6+7(50,1$7,2152200,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6*5($7(57+$10,1',$*21$/5(48,5('$65(&<&/,1*$5($5(48,5('3(501$'0,1*$5$*(6$1'(;(5&,6(5220)$&7256)6)[ $3$570(176&200(5&,$/$1'&20021$5($6)$&725[ 727$/5(48,5(' 6)3529,'('6)(1&/26('3$5.,1**$5$*(6)*5266 2&&2&&2&&(;,7(;,7',67$1&(%(7:((1(;,76
2&&(;,76(3$5$7,21',67$1&(
+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('(/(9$7256+$)70,123(1,1*605(7$,/63$&(0(5&$17,/(*5266 2&&/2:(5/2%%<81&21&(175$7('$66(0%/<1(7 2&&2)),&(%86,1(66$5($1(7 2&&550$,/52203$&.$*(52203$&.$*(5220$&&(6625<6725$*(*5266 2&&2)),&(
(1&/26('3$5.,1**$5$*(62&&83$1&<6)*5266 2&&83$176/2%%<0$,/81&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$1760(5&$17,/(*528302&&83$1&<6)*5266 2&&83$176'225:,'7+ 3(52&&83$173(5016%&727$/ 2&&83$1765(48,5(''225:,'7+2&&[ '22523(1:,'7+3529,'(' 3$&.$*(75$6+87,/,7<$&&(6625<6725$*(2&&83$1&<6)*5266 2&&83$1762)),&(%86,1(66$5($6)1(7 2&&83$1766&$/(
&2'(3/$1 ),567)/225020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$&2'($1$/<6,63/$16'' ''6(7
/2%%<2)),&(63$&(81&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$1765(67$85$1781&21&(175$7('$66(0%/<6)1(7 2&&83$1766(&21')/2255(6,'(17,$/81,7652&&83$1&<6)*5266 2&&83$176&20081,7<5220*$0(5220),71(6681&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$1763/$=$81&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$1760(5&$17,/(*528302&&83$1&<6)*5266 2&&83$176727$/ 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&67$,5:,'7+ 3(52&&83$173(5016%&67$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&727$/ 2&&83$17667$,5:,'7+3529,'('3(567$,5 0,1'225:,'7+3529,'('5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ 67$,5:,'7+3529,'(' 0,15(48,5('67$,5:,'7+2&&[ 67$,5:,'7+3529,'('3(567$,5 0,1'225:,'7+3529,'('5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ $'',7,21$/(*5(662&&83$1766.</281*( 2&&83$1763/$=$(;(5&,6()5((3/$<63$&(6)1(7 2&&83$1767+,5'),)7+)/2255(6,'(17,$/81,7652&&83$1&<6)*5266 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&67$,5:,'7+3529,'('3(567$,5 0,1'22523(1:,'7+3529,'(' 5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ +2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('0(&+$1,&$/6+$)70,123(1,1*6+2855$7('5(6,'(17,$/75$6+&+87(6+$)70,123(1,1*6+2855$7('5(67$85$1775$6+&+87(6+$)70,123(1,1*6+2855$7(''(0,6,1*:$//60,123(1,1*6+2855$7('&255,'25:$//60,123(1,1*6
'(&',67$1&('($'(1'&255,'25/(1*7+,6/(667+$17+(0$;,080
$63(5016%&(;&(*5(6675$9(/',67$1&(%(7:((1(;,7$&&(66
5&20021522081&21&(175$7('$66(0%/<1(7 2&&5(7$,/63$&(0(5&$17,/(*5266 2&&5(7$,/63$&(0(5&$17,/(*5266 2&&5(7$,/63$&(0(5&$17,/(*5266 2&&5(67$85$1781&21&(175$7('$66(0%/<1(7 2&&),71(665220(;(5&,6(*5266 2&&*$0(522081&21&(175$7('$66(0%/<1(7 2&&833(5/2%%<81&21&(175$7('$66(0%/<1(7 2&&23(172%(/2:3/$=$'(&.81&21&(175$7('$66(0%/<1(7 2&&)5((3/$<63$&((;(5&,6(6)*5266 2&&(;,7$&&(66(;,7$&&(66),71(665220*$0(5220(/(9$725602.(*8$5'&217$,10(176<67(0(/(9$725602.(*8$5'&217$,10(176<67(0602.(3$57,7,216',$*21$/',67$1&(
(;,7$&&(66',$*21$/',67$1&(
',$*21$/',67$1&(
',67$1&(%(7:((1(;,76
',$*21$/',67$1&(
',$*21$/',67$1&(
',67$1&(%(7:((1(;,76
',67$1&(%(7:((1(;,76
',67$1&(%(7:((1(;,76
2&&2&&',67$1&(%(7:((1(;,76
2&&2&&2&&2&&2&&2&&2&&2&&2&&83$1&<127(287'225$5($6<$5'63$7,262&&83,('522)6 &28576 $1'6,0,/$5287'225$5($6$&&(66,%/(72$1'86$%/(%<7+(%8,/',1*2&&83$1766+$//%(3529,'(':,7+ 0($162)(*5(66 $65(48,5('%<7+,6&+$37(57+( 2&&83$17/2$' 2)68&+287'225$5($66+$//%($66,*1('%<7+( %8,/',1*2)),&,$/ ,1$&&25'$1&(:,7+7+($17,&,3$7('86((*5(66&28576,1&203/,$1&(:,7+,%&6(&7,21+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7(''(0,6,1*:$//60,123(1,1*6+2855$7('&255,'25:$//60,123(1,1*6+2855$7('0(&+$1,&$/6+$)70,123(1,1*6(*5(6675$9(/',67$1&(%(7:((1(;,7$&&(66
'(&',67$1&('($'(1'&255,'25/(1*7+,6/(667+$17+(0$;,080
$63(5016%&(;&(;,7$&&(66602.(3$57,7,216602.(3$57,7,216+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('5(6,'(17,$/75$6+&+87(6+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6(;,7$&&(66+2855$7('5(67$85$17*5($6(6+$)70,123(1,1*6
'(&',67$1&('($'(1'&255,'25/(1*7+,6/(667+$17+(0$;,080
$63(5016%&(;&),5(5$7(':$///(*(1'+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7('(;7(5,25%($5,1*:$//61223(1,1*3527(&7,215(48,5('+2855$7('(;7(5,25:$//61223(1,1*3527(&7,215(48,5('+2855$7(',17(5,25:$//61223(1,1*3527(&7,215(48,5('602.(3$57,7,21:602.(5$7('23(1,1*6020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$&2'(3/$166&$/(
&2'(3/$1 6(&21')/2256&$/(
&2'(3/$1 7+,5'),)7+)/225'' ''6(7
+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('5(6,'(17,$/75$6+&+87(6+$)70,123(1,1*6+2855$7(''(0,6,1*:$//60,123(1,1*6+2855$7('&255,'25:$//60,123(1,1*6'($'(1'&255,'25/(1*7+,6/(667+$17+(0$;,080
$63(5016%&(;&(*5(6675$9(/',67$1&(%(7:((1(;,7$&&(66+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('0(&+$1,&$/6+$)70,123(1,1*6
'(&',67$1&(56.</281*(81&21&(175$7('$66(0%/<1(7 2&&522)'(&.6&20%,1('81&21&(175$7('$66(0%/<1(7 2&&(;,7$&&(666.</281*(602.(3$57,7,216602.(3$57,7,216',$*21$/',67$1&(
',67$1&(%(7:((1(;,762&&(;,7$&&(66+2855$7('5(67$85$17*5($6(6+$)70,123(1,1*6
2&&+2855$7('67$,5(1&/2685(0,123(1,1*6+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('0(&+$1,&$/6+$)70,123(1,1*6+2855$7(''(0,6,1*:$//60,123(1,1*6+2855$7('&255,'25:$//60,123(1,1*6(*5(6675$9(/',67$1&(%(7:((1(;,7$&&(66
'(&',67$1&('($'(1'&255,'25/(1*7+,6/(667+$17+(0$;,080
$63(5016%&(;&5522)723/281*(81&21&(175$7('$66(0%/<1(7 2&&5(6,'(17,$/522)'(&.81&21&(175$7('$66(0%/<1(7 2&&2&&2&&(;,7$&&(66522)723/281*(602.(3$57,7,216+2855$7('(/(9$7256+$)70,123(1,1*6+2855$7('5(6,'(17,$/75$6+&+87(6+$)70,123(1,1*6+2855$7('67$,5(1&/2685(0,123(1,1*6(;,7$&&(662&&5(6,'(17,$/522)'(&.),5(5$7(':$///(*(1'+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7(':0,123(1,1*6+2855$7('(;7(5,25%($5,1*:$//61223(1,1*3527(&7,215(48,5('+2855$7('(;7(5,25:$//61223(1,1*3527(&7,215(48,5('+2855$7(',17(5,25:$//61223(1,1*3527(&7,215(48,5('602.(3$57,7,21:602.(5$7('23(1,1*66,;7+)/2255(6,'(17,$/81,7652&&83$1&<6)*5266 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&6.</281*('(&.81&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&67$,5:,'7+3529,'('3(567$,5 0,1'22523(1:,'7+3529,'(' 5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ 67$,5:,'7+3529,'('3(567$,5 0,1'22523(1:,'7+3529,'(' 5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ 6(9(17+)/2255(6,'(17,$/81,7652&&83$1&<6)*5266 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&67$,5:,'7+3529,'('3(567$,5 0,1'225:,'7+ 3(52&&83$173(5016%&'22523(1:,'7+3529,'(' 5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ 6.</281*('(&.81&21&(175$7('$66(0%/<2&&83$1&<6)1(7 2&&83$17667$,5:,'7+ 3(52&&83$173(5016%&'225:,'7+ 3(52&&83$173(5016%&67$,5:,'7+3529,'('3(567$,5 0,1'22523(1:,'7+3529,'(' 5(48,5(''225:,'7+2&&[ 5(48,5('67$,5:,'7+2&&[ 020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$&2'(3/$166&$/(
&2'(3/$1 6,;7+)/2256&$/(
&2'(3/$1 6(9(17+)/225'' ''6(7
$%&'()*,-+$$$$$
4 8 $1 7 5 (//($9 (6(7%$&.)25813527(&7('23(1,1*6$1'),5('(3$570(17$&&&(66(0(5*(1&<75$)),&21/<3529,'(%$55,(5$65(48,5('$$$75$6+7(50,1$7,21-8,&(%$55(7$,/$/2:(5/2%%<*$5$*(()+.67$,56767$,567%,.(6725$*(9(67
$2)),&((175<'(6./281*(0$,/3$&.$*()$0,/<55:$7(50(&+$1,&$//289(56,17$.(0(&+$1,&$//289(5(;+$867-$1%$&.2)+286(75$16)250(5/2&$7,21$$67$,567(/(9$725/2%%<$$$528*+,13/80%,1*)25)8785(5(675220
$127(+$7&+5(*,21'(127(67(1$1763$&(6127,1&/8'(',1$5&+,7(&785$/6&232):25.&225',1$7(:,7+)8785(7(1$17
020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$),567)/2253/$16&$/(
),567)/2253/$1'' ''6(7
$%&'()*,-+$$$$$$$$*5($6(6+$)7/2&$7,21$%29(81,7181,7'*$0(/281*(),71(6681,7'81,7'81,7$81,7$81,7$81,7$81,7$81,7$81,7$81,7$81,7&81,7(81,725(67$85$175(7$,/%5(7$,/&5(7$,/'$833(5/2%%<&255,'25&20081,7<522023(172%(/2:67$,56767$,567()+.67$,567
9(67$$$)$0,/<55$:(7%$5%8,/7,16+(/9,1*),5(3/$&(:)+63$&()$0,/<55$$$$$528*+,13/80%,1*)25)8785(5(675220528*+,13/80%,1*)25)8785(5(675220528*+,13/80%,1*)25)8785(5(6752205(67$85$1775$6+&+87(6(&21'72),567)/22521/<127(+$7&+5(*,21'(127(67(1$1763$&(6127,1&/8'(',1$5&+,7(&785$/6&23(2):25.&225',1$7(:,7+)8785(7(1$17$020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$6(&21')/2253/$16&$/(
6(&21')/2253/$1'' ''6(7
$%&'()*+$$$$$81,7181,7'81,7/81,7'81,7'81,7'81,7'81,7)81,7)81,7281,7281,7*81,7+81,7081,7481,7%81,7%81,7381,7381,7/81,7.81,7)81,7-81,7,81,7)81,7281,7(81,7&81,7%$67$,56767$,567()+67$,567
(/(9/2%%<75$6+
(4 (4(/(9/2%%<:)+122.$$$$$$%&'()$$$$$$81,7181,7&81,7(81,7281,7)81,7/81,7'81,7,81,7%81,7'81,7%81,7081,7'81,7'81,7)81,7)81,7281,7281,7*81,7481,7381,7%81,7381,7/81,7.81,7)81,7-81,7'81,7+$67$,56767$,567(67$,567
(/(9/2%%<:)+122.$$$$(/(9$725/2%%<75$6+020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$7+,5'$1')2857+)/2253/$16&$/(
7+,5')/2253/$16&$/(
)2857+)/2253/$1'' ''6(7
$%&'()$$$$$$81,7181,7'81,7%81,7'81,7'81,7/81,7,81,7'81,7+81,7081,7%81,7'81,7)81,7)81,7281,7281,7*81,7481,7%81,7381,7381,7/81,7.81,7)81,7-81,7)81,7281,7(81,7&$(67$,56767$,56767$,567
(/(9/2%%<$$(/(9/2%%<$$(/(9/2%%<$%&'()$$$$$$81,7181,7&81,7(81,7281,7)81,7,81,7-81,7)81,7.81,7/81,7381,7381,7%81,7%81,7*81,7281,7281,7)81,7)81,7'81,7'81,7'81,7'81,7%81,7/81,7'$(67$,56767$,56767$,5676.</281*(
$$$(/(9/2%%<$$$127(+$7&+5(*,21'(127(67(1$1763$&(6127,1&/8'(',1$5&+,7(&785$/6&23(2):25.&225',1$7(:,7+)8785(7(1$1775$6+)$0,/<55020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$),)7+$1'6,;7+)/2253/$16&$/(
),)7+)/2253/$16&$/(
6,;7+)/2253/$1'' ''6(7
$%&'($$$$$81,7681,7%81,7)81,7,81,7'81,7/81,7'81,7'81,7'81,7)81,7)81,7281,7281,7*81,7381,7381,7/81,7.81,7)81,7-81,7)$(67$,56767$,567&255,'25(/(9/2%%<
$$$(/(9/2%%<
$$522)/281*($81,7575(//,6$%29($%&'($$$$$$($$
$$020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$6(9(17+$1'522))/2253/$16&$/(
6(9(17+)/2253/$16&$/(
522)3/$1'' ''6(7
VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
%&'()*,-+
)&9,1</:,1'2:6),%(5&(0(17%2$5'6,*1$*(35()$/80,180%$/&21< 5$,/,1*6%)&&08)&)&&080.0(&+$1,&$//289(5635()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< */$665$,/,1*6%)&0(7$/&23,1*&$30$VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
0(7$/&23,1*&$3)&9,1</:,1'2:6$1'6:,1*3$7,2'225635()$/80,180%$/&21< 5$,/,1*6%)&)&)&)&)&)&&08&089,1</:,1'2:6$1'6:,1*3$7,2'225635()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< */$665$,/,1*6%)&)&)&35()$/80,180%$/&21< */$665$,/,1*6%35()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< 5$,/,1*6%(;7(5,25),1,6+6&+('8/(%5,&.0$18)$&785(57<3(&2/256,=(&2817<0$7(5,$/6%5,&.9(1((5+(5,7$*(&2//(&7,2187,/,7<&080$18)$&785(5),1,6+&2/25&2817<0$7(5,$/663/,7)$&(%/$&.(1('$6+$),%(5&(0(17/$36,',1*+25,=217$/0$18)$&785(5),1,6+&2/25),%(5&(0(17/$36,',1*+25,=217$/$&&(170$18)$&785(57<3(&2/25),%(5&(0(17/$36,',1*+25,=217$/0$18)$&785(57<3(&2/25),%(5&(0(173$1(/66725()521760$18)$&785(57<3(&2/25:,1'2:6$1''22560$18)$&785(57<3(&2/25%$/&21,(6$1'5$,/,1*60$7(5,$/&2/25
6((352-(&70$18$/)25(48$/0$18)$&785(5672$%29(5()(5(1&('352'8&760&225',1$7('3$,17&2/257<3($663(&
'-$0(6+$5',(60227+7$1-$0(6+$5',(60227+%52:1-$0(6+$5',(60227+&+$5&2$/-$0(6+$5',($5&+,7(&785$/3$1(/),1(6$1'7(;785(08/7,&2/25'8(727(1(1735()(5(1&(3/$&(+2/'(5$1'(56(1:,1'2:6:,1'2:6(5,(69,1</:,1'2:6:+,7(35()$%5,&$7('$/80,180 */$66%/$&.&08)&)&)&%$/&21,(6$1'5$,/,1*60$7(5,$/&2/2535()$%5,&$7('$/80,180:+,7()&6/$7(1)%$/&21,(6$1'5$,/,1*60$7(5,$/&2/2535()$%5,&$7('$/80,180%/$&.%%%%5,&.0$18)$&785(57<3(&2/256,=(&2817<0$7(5,$/6%5,&.9(1((5+(5,7$*(&2//(&7,2187,/,7<07$1*(1(5$/(/(9$7,21127(63529,'(+25,=217$/)/$6+,1*:,7+'5,3('*($7$//:,1'2:6'2256$1'23(1,1*66((6+((7$ $)25:,1'2:$1''225'(7$,/63529,'()/$6+,1*$7$//+25,=217$/3$1(/7(50,1$7,2175,0/2&$7,2166(('(7$,/$//(;326('/,17(/672%(+27',33('*$/9$1,=('),1,6+12/,17(/672%(3$,17('35(),1,6+('0(7$/9(176/289(56:$//&$36(7&72%(&2/25&/$'&2/25672%(6(/(&7('%<$5&+,7(&75(9,(:35,2572)$%5,&$7,21$1',167$//$7,21,)7+(5($5($1<',6&5(3$1&,(6:,7+,17+(3/$1625:25.35(9,286/<,167$//('127,)<7+($5&+,7(&7,00(',$7(/<522)'5$,1',6&+$5*(12==/(672%(
0$;$%29(),1,6+('(;7(5,25*5$'(&225',1$7(:,7+&,9,/$1'0(&+$1,&$/35(),1,6+('&20326,7(3$1(/6$1'75,0$7&251,&(/2&$7,21672&225',1$7(:,7+$'-$&(173$1(/&2/25635(),1,6+('&251,&(),1,6+(6$70$16$5'522)/2&$7,216720$7&+75,0:$7(53522),1*68%&2175$&725,65(63216,%/(72&225',1$7(7+(7232):$7(53522),1*:7+(*5$',1*3/$10$62168%&2175$&725,65(63216,%/(72&225',1$7(7+(7232)60227+)$&(&086,1*/(:<7+(75$<:((36<67(0:,7+7+(*5$',1*3/$1),1$/*5$'(,66+2:1$6$',$*5$00$7,&5(35(6(17$7,212)),1$/*5$'(,7,67+(5(63216,%,/,7<2)7+(&2175$&72572&225',1$7($//68%&2175$&7256:,7+7+(&,9,/*5$',1*3/$16$//:,1'2:6:,7+,10$6215<(/(0(1766+$//%(:5$33(':,7+;0$7(5,$/$7(;7(5,25)$&(2):$//6+($7+,1*$7$//:,1'2:6:,7+,10$6215<(/(0(1763529,'(*$3%(7:((16,//2):,1'2:$1'7232)0$6215<3529,'(;%/2&.,1*%(+,1'$1<9(57,&$/%$77(1675,3)25326,7,9(1$,/,1*)25:$55$17<020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$(;7(5,25(/(9$7,2166&$/(
:(67(/(9$7,216&$/(
1257+(/(9$7,21'' ''6(7
VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
%&'()*,-+)&)&)&)&&080&089,1</:,1'2:635()$/80,180%$/&21< 5$,/,1*6%.35()$/80,180%$/&21< 5$,/,1*6%0(&+$1,&$//289(50(7$/&23,1*&$3$VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
&08)&)&)&)&)&)&)&)&)&)&)&)&)&)&)&)&&08)&)&)&&08)&00)&0),%(5&(0(17%2$5'6,*1$*(),%(5&(0(17%2$5'6,*1$*(9,1</:,1'2:635()$/80,180%$/&21< 5$,/,1*6%)$%5,&$:1,1*69,1</:,1'2:6$1'6:,1*3$7,2'225635()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< */$665$,/,1*6%35()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< 5$,/,1*6%35()$/80,180%$/&21< 5$,/,1*6%0(7$/&23,1*&$30(;7(5,25),1,6+6&+('8/(%5,&.0$18)$&785(57<3(&2/256,=(&2817<0$7(5,$/6%5,&.9(1((5+(5,7$*(&2//(&7,2187,/,7<&080$18)$&785(5),1,6+&2/25&2817<0$7(5,$/663/,7)$&(%/$&.(1('$6+$),%(5&(0(17/$36,',1*+25,=217$/0$18)$&785(5),1,6+&2/25),%(5&(0(17/$36,',1*+25,=217$/$&&(170$18)$&785(57<3(&2/25),%(5&(0(17/$36,',1*+25,=217$/0$18)$&785(57<3(&2/25),%(5&(0(173$1(/66725()521760$18)$&785(57<3(&2/25:,1'2:6$1''22560$18)$&785(57<3(&2/25%$/&21,(6$1'5$,/,1*60$7(5,$/&2/25
6((352-(&70$18$/)25(48$/0$18)$&785(5672$%29(5()(5(1&('352'8&760&225',1$7('3$,17&2/257<3($663(&
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
0$;$%29(),1,6+('(;7(5,25*5$'(&225',1$7(:,7+&,9,/$1'0(&+$1,&$/35(),1,6+('&20326,7(3$1(/6$1'75,0$7&251,&(/2&$7,21672&225',1$7(:,7+$'-$&(173$1(/&2/25635(),1,6+('&251,&(),1,6+(6$70$16$5'522)/2&$7,216720$7&+75,0:$7(53522),1*68%&2175$&725,65(63216,%/(72&225',1$7(7+(7232):$7(53522),1*:7+(*5$',1*3/$10$62168%&2175$&725,65(63216,%/(72&225',1$7(7+(7232)60227+)$&(&086,1*/(:<7+(75$<:((36<67(0:,7+7+(*5$',1*3/$1),1$/*5$'(,66+2:1$6$',$*5$00$7,&5(35(6(17$7,212)),1$/*5$'(,7,67+(5(63216,%,/,7<2)7+(&2175$&72572&225',1$7($//68%&2175$&7256:,7+7+(&,9,/*5$',1*3/$16$//:,1'2:6:,7+,10$6215<(/(0(1766+$//%(:5$33(':,7+;0$7(5,$/$7(;7(5,25)$&(2):$//6+($7+,1*$7$//:,1'2:6:,7+,10$6215<(/(0(1763529,'(*$3%(7:((16,//2):,1'2:$1'7232)0$6215<3529,'(;%/2&.,1*%(+,1'$1<9(57,&$/%$77(1675,3)25326,7,9(1$,/,1*)25:$55$17<020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$(;7(5,25(/(9$7,2166&$/(
($67(/(9$7,216&$/(
6287+(/(9$7,21'' ''6(7
$$$$$$$$$
$$6LP7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW
$
020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7$ $$/&29(6&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29( 5&36&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29( 5&3$:,//+$9(620(9$5,$7,21621(;7(5,25:$//$))(&7,1*0$*,&3$.3/$&(0(17$66+2:1%(/2:6&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29(6&$/(
81,7$ .,7&+(16&$/(
9$1,7< 81,7$ $6&$/(
81,7$ .,7&+(1'' ''6(76&$/(
81,7$ $/&29(
$$6LP$$6LP7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7$ $$/&29(6&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29( 5&36&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29( 5&36&$/(
81,7$ .,7&+(16&$/(
81,7$ .,7&+(16&$/(
9$1,7< 81,7$ $'' ''6(7
$$6LP7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7$$/&29('' ''6(76&$/(
81,7$ $/&29(6&$/(
81,7$ $/&29( 5&36&$/(
81,7$ $/&29( &/26(79$5,$7,216&$/(
81,7$ .,7&+(16&$/(
9$1,7< 81,7$
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7% &$/&29(6&$/(
81,7& $/&29( 1')/22567((/678'6&$/(
81,7& $/&29( 5&36&$/(
81,7% $/&29(6&$/(
81,7% $/&29( 5&36&$/(
81,7% .,7&+(16&$/(
81,7& .,7&+(16&$/(
9$1,7< 81,7% &'' ''6(7
$$6LP7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7&$/&29(6&$/(
81,7& $/&29(6&$/(
81,7& $/&29( 5&36&$/(
81,7& .,7&+(16&$/(
9$1,7< 81,7&'' ''6(7
$$6LP
$$7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW$6LP)(6&$/(
81,7' 21(%('6&$/(
81,7' 21(%(' 5&3020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7' '%('6&$/(
81,7' 21(%('6&$/(
81,7' 21(%(' 5&36&$/(
81,7' 21(%(' 1')/22567((/678'6&$/(
81,7' .,7&+(16&$/(
81,7' .,7&+(16&$/(
9$1,7< 81,7'6&$/(
9$1,7< 81,7''' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW$$6LP029$%/(,6/$1'020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7( %('6&$/(
81,7( 21(%(' 5&36&$/(
81,7( 21(%('6&$/(
81,7( 21(%(' 1')/22567((/678'6&$/(
81,7( .,7&+(16&$/(
9$1,7<:/,1(1 81,7(6&$/(
81,7(1')/225 .7,&+(1'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7) %('6&$/(
81,7) 21(%('6&$/(
81,7) 21(%(' 5&36&$/(
81,7) .,7&+(16&$/(
81,7) ,6/$1')52176&$/(
81,7) ,6/$1'6,'(6&$/(
81,7) ,6/$1'%$&.6&$/(
9$1,7<:/,1(1 81,7)'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW)(6&$/(
81,7* 21(%('6&$/(
81,7* 21(%(' 5&36&$/(
81,7+ 21(%('6&$/(
81,7+ 21(%(' 5&3020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7* + %('6&$/(
81,7* .,7&+(16&$/(
81,7* ,6/$1')52176&$/(
81,7* ,6/$1'6,'(6&$/(
81,7* ,6/$1'%$&.6&$/(
81,7+ .,7&+(16&$/(
81,7+ ,6/$1')52176&$/(
81,7+ ,6/$1'6,'(6&$/(
81,7+ ,6/$1'%$&.6&$/(
9$1,7< 81,7* +'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW)(020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7, - %('6&$/(
81,7, 21(%('6&$/(
81,7, 21(%(' 5&36&$/(
81,7- 21(%(''(16&$/(
81,7- 21(%(''(1 5&36&$/(
81,7, .,7&+(16&$/(
81,7, ,6/$1')52176&$/(
81,7, ,6/$1'6,'(6&$/(
81,7, ,6/$1'%$&.6&$/(
81,7- .,7&+(16&$/(
81,7- ,6/$1')52176&$/(
81,7- ,6/$1'6,'(6&$/(
81,7- ,6/$1'%$&.6&$/(
9$1,7< 81,7,6&$/(
9$1,7< 81,7-'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,7. / %('6&$/(
81,7. 21(%(''(16&$/(
81,7/ 21(%(''(16&$/(
81,7/ 21(%(''(16&$/(
81,7. 21(%(''(1 5&36&$/(
81,7. .,7&+(16&$/(
81,7. ,6/$1')52176&$/(
81,7. ,6/$1'6,'(6&$/(
81,7. ,6/$1'%$&.6&$/(
81,7/ .,7&+(16&$/(
81,7/ ,6/$1')52176&$/(
81,7/ ,6/$1'6,'(6&$/(
81,7/ ,6/$1'%$&.6&$/(
9$1,7<:/,1(1'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW)(020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,70 %('6&$/(
81,70 21(%(''(1 5&36&$/(
81,70 21(%(''(16&$/(
81,70 .,7&+(16&$/(
81,70 ,6/$1')52176&$/(
81,70 ,6/$1'6,'(6&$/(
81,70 ,6/$1'%$&.6&$/(
9$1,7< 81,70'' ''6(7
$$$$$6LP$$$7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW$$6LP$6LP)(6&$/(
81,71 7:2%('6&$/(
81,71 7:2%(' 5&3020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,71 %('6&$/(
81,71 7:2%(' 1')/22567((/678'6&$/(
81,71 .,7&+(16&$/(
81,71 ,/6$1')52176&$/(
81,71 ,6/$1'6,'(6&$/(
81,71 ,6/$1'%$&.6&$/(
81,711')/225 .,7&+(16&$/(
9$1,7< 81,716&$/(
9$1,7<'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW)($$6LP6&$/(
81,72 7:2%('6&$/(
81,72 7:2%(' 5&3020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,72 %('6&$/(
81,72 .,7&+(1$6&$/(
81,72 .,7&+(1%6&$/(
81,72 ,6/$1')52176&$/(
81,72 ,6/$1'6,'(6&$/(
81,72 ,6/$1'%$&.6&$/(
9$1,7< 81,726&$/(
9$1,7< 81,726&$/(
81,72 7:2%(' 1')/22567((/678'6&$/(
81,72 1')/225.,7&+(1$6&$/(
81,72 1')/225.,7&+(1%6&$/(
81,72 1')/225,6/$1')5217'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,73 %('6&$/(
81,73 7:2%('6&$/(
81,73 7:2%(' 5&36&$/(
81,73 .,7&+(1$6&$/(
81,73 .,7&+(1%6&$/(
81,73 ,6/$1')52176&$/(
81,73 ,6/$1'6,'(6&$/(
81,73 ,6/$1'%$&.6&$/(
9$1,7<:/,1(1 81,736&$/(
9$1,7< 81,73'' ''6(7
$$$$6LP
$7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,74 %('6&$/(
81,74 7:2%(' 5&36&$/(
81,74 7:2%('6&$/(
81,74 .,7&+(16&$/(
81,74 ,6/$1')52176&$/(
81,74 ,6/$1'6,'(6&$/(
81,74 ,6/$1'%$&.6&$/(
9$1,7< 81,74'' ''6(76&$/(
9$1,7<:/,1(1 81,74
$$$$
$6LP7<3,&$/81,73/$1127(6$//&2817(572366+$//%(62/,'685)$&(:,7+81'(5028176,1.%$&.63/$6+812$1'(1'63/$6+(6'(37+2)6,1.%$6,1612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(66((,17(5,25),1,6+0$7(5,$/.(<$//&$%,1(766+$//+$9(),1,6+('('*(6:+(5((;326('217+(6,'(66(((/(9$7,216$//&$%,1(7+$5':$5(6+$//%(02817('9(57,&$//<$1'6+$//127&21)/,&7:,7+$'-$&(17&$%,1(76'2256'5$:(5625$33/,$1&(6$//'5$:(5+$5':$5(72%(02817('+25,=217$//<6((63(&,),&$7,21)25025(,1)250$7,21$//1$,/+2/(66+$//%(),//('$1'(;&(666+$//%(5(029('627+$7125(6,'8(,69,6,%/(%8,/7,1:22'6+(/9,1*6+$//%(9(1((53/<:22':,7+('*(75,067$,1$1'32/<:+(5('8&7:25.,65(48,5('%(/2:&(,/,1*6758&785(*<3680%2$5'62)),766+$//(;7(1'
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW6&$/(
81,75 7:2%(' 5&36&$/(
81,75 7:2%('020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,75 %('6&$/(
81,75 .,7&+(16&$/(
81,75 ,6/$1')52176&$/(
81,75 ,6/$1'6,'(6&$/(
81,75 ,6/$1'%$&.6&$/(
9$1,7< 81,756&$/(
9$1,7< 81,75'' ''6(7
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
$
81,7612772,17(5)(5(:,7+81'(5&2817(552//,1&/($5$1&(6%8/%6&$1127352758'(%(<21'%26+$'($7$1<'(&25$7,9(/,*+7),;785(6,1&/8',1*%87127/,0,7('72.,7&+(13(1'$176%$7+),;785(6:$//6&21&(6(7&$//6+2:(5%$6(66+$//%()2$0('$//81,7%$7+52203(5,0(7(5:$//6725(&(,9($&2867,&,168/$7,21,)5(48,5('&225',1$7(:,7+0(&+$1,&$/)25',6+:$6+(5$,5*$3),77,1*7+528*+&2817(5',5(&772:$5'6,1.3529,'(%/2&.,1*)25$//0(7$/%5$&.(7/2&$7,2163529,'(;%/2&.,1*%(+,1'$//%$7+5220$&&(6625,(6&(17(5('$77+()2//2:,1*+(,*+765REHKRRNV´VWDQGDUGXQLWVDFFHVVLEOHXQLWVPD[KHLJKW+DQGWRZHOEDUV´DOOXQLWVPD[KHLJKW)XOOVL]HWRZHOEDUV´DOOXQLWVLIDERYHWRLOHWPD[KHLJKW020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$81,76 %('6&$/(
81,76 7:2%(' 5&36&$/(
81,76 7:2%('6&$/(
81,76 .,7&+(16&$/(
81,76 ,6/$1')52176&$/(
81,76 ,6/$1'6,'(6&$/(
81,76 ,6/$1'%$&.6&$/(
9$1,7<:/,1(1 81,766&$/(
9$1,7< 81,76'' ''6(7
8383'()*,-+()+75$6+7(50,1$7,21553$&.$*(0$,/-8,&(%$5/2:(5/2%%<9(675(7$,/$2)),&((/(9$725(/-8,&(%$5%2+/281*((175<'(6.)/225$%29(-$16)6)6)6)6)6)6)6)6)6)6)6)6)6)6)6)6(&85,7<*$7(2129(5+($'75$&.$6)6)'()*+()+0(1:20(1833(5/2%%<23(172%(/2:672575$6+6)6)6)6)6)6)6)6)6)020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$(1/$5*('3/$166&$/(
(1/$5*('3/$1 ),567)/225/2%%<6&$/(
(1/$5*('3/$1 6(&21')/225/2%%<'' ''6(7
%&'((/(9/2%%<(/(9/2%%<522)/281*(55$6725%67$,567&255,'25*$6),5(3,7*$6*5,//6522)'(&.75(//,6$%29(6)$6)6)$%&'(&20081,7<5220:)+63$&($5(7$,/':(7%$5%8,/7,16+(/9,1*),5(3/$&(5555&255,'2567$,5676)6)6)6)6)6)6)6)6)6)6)6)$$6)6)6)6)$%&'(6.</281*((/(9/2%%<67$,5675555$6)6)6)6)6)6)6)6))$0,/<55%&*$0(/281*(),71(66'(6,*1$7('*2/)6,08/$725$5($$020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$(1/$5*('3/$166&$/(
(1/$5*('3/$1 6(&21')/225&20081,7<5220 5(7$,/6&$/(
(1/$5*('3/$1 6,;7+)/2256.</281*(6&$/(
(1/$5*('3/$1 7+)/225522)/281*( '(&.6&$/(
(1/$5*('3/$1 6(&21')/225$0(1,7<'' ''6(7
()*,-+()+.%2&&(%$//&285758%(53(//(763/$<*5281'&21&5(7(*5$66$&&(17&21&5(7(%8,/7,1&08%/2&.3/$17(5667$,1('67$03('&21&5(7(5(67$85$17'(&.60$//02%,/(),%(5*/$663/$17(56&21&5(7($&&(17&21&5(7(&21&5(7(*5($7/$:1*5$6667$,1('67$03('&21&5(7()/225'5$,1 29(5)/2:'5$,1&21&5(7(*5$66&21&5(7(&21&5(7(&21&5(7($&&(17&21&5(7(785)67$,1('67$03('&21&5(7(58%%(53/$<*5281'3(//(76020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$(1/$5*('3/$166&$/(
(1/$5*('3/$1 6(&21')/2253/$=$'' ''6(7
VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
%&'()*,-+.
5(67$85$17*$5$*(81,7)81,7)81,7)81,7)81,7)81,7'81,7'81,7'81,7'81,7'81,7'$6LP$6LP$6LP$6LP$6LP$VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
*$5$*(*$5$*(*$5$*(81,781,7/,%5$5<),71(66*$0(522081,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,7&20081,7<522081,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,781,76.</281*($0(1,7<'(&.%&'()*,-+.*$5$*(/2:(5/2%%<833(5/2%%</281*(5(7$,/$81,7-81,7-81,7-81,7-81,7-$020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$%8,/',1*6(&7,2166&$/(
1257+726287+6&$/(
($6772:(676&$/(
3/$=$6(&7,21'' ''6(7
%7<3,&$/:22'75866)/225$66(0%/<7<3,&$/:22'75866)/225$66(0%/<7<3,&$/:22'75866)/225$66(0%/<7<3,&$/:22'75866)/225$66(0%/<),1,6+)/225*<36807233,1*6281'0$7:22'68%)/225:22'75866(6:%/2:1,1,168/$7,215(6,/,(17&+$11(/5&'(/8;(*<3680%2$5'7<3,&$/6/$%21*5$'($66(0%/<7<3,&$/35(&$67&21&5(7($66(0%/<),1,6+)/2250,1*<3&5(7(7233,1*6281'0$735(&$67&21&5(7(3/$1.7<3,&$/35(&$67&21&5(7($66(0%/<7<3,&$/7-,522)$66(0%/<522)0(0%5$1(7$3(5(',168/$7,210,15$9(5$*(9$325%$55,(5522)6+($7+,1*7-,6<67(07<3,&$/),%(5&(0(17&/$'',1*:67((/678':$//),%(5&(0(17&/$'',1*6<67(06(((/(9$7,216)25&2/25&217,1286:($7+(5%$55,(55,*,',168/$7,21(;7(5,256+($7+,1*67((/678':$//:&$9,7<,168/$7,21&217,182869$325%$55,(5*<3%2$5'7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//),%(5&(0(17&/$'',1*6<67(06(((/(9$7,216)25&2/25&217,1286:($7+(5%$55,(5(;7(5,256+($7+,1*:22'678':$//:&$9,7<,168/$7,21&217,182869$325%$55,(5*<3%2$5'7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//7<3,&$/+,5&08%/2&.7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//35()$%5,&$7('+$1*,1*$/80,180%$/&21<6(((/(9$7,216)255$,/,1*7<3(35()$%5,&$7('+$1*,1*$/80,180%$/&21<6(((/(9$7,216)255$,/,1*7<3(35()$%5,&$7('+$1*,1*$/80,180%$/&21<6(((/(9$7,216)255$,/,1*7<3(35()$%5,&$7('+$1*,1*$/80,180%$/&21<6(((/(9$7,216)255$,/,1*7<3($VW)ORRU
WK)ORRU
QG)ORRU
UG)ORRU
WK)ORRU
WK)ORRU
WK)ORRU
5RRI
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d&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$:$//6(&7,2167<3,&$/6&$/(
1257+ 7<3,&$/6&$/(
6287+ 7<3,&$/3/$=$6&$/(
:(67 5(67$85$176&$/(
&255,'256(&7,216&$/(
6287+:$//'' ''6(7
7<3,&$/6/$%21*5$'($66(0%/<7<3,&$/0$6215<:67((/678':$//0$6215<9(1((56(((/(9$7,216)25&2/25$,563$&(&217,18286:($7+(5%$55,(55,*,',168/$7,21(;7(5,256+($7+,1*67((/678':$//:&$9,7<,168/$7,21&217,182869$325%$55(5*<3%2$5'7<3,&$/6/$%21*5$'($66(0%/<7<3,&$/0$6215< &08:$//0$6215<9$1((56(((/(9$7,216)25&2/25$,563$&(&217,18286:($7+(5%$55,(55,*,',168/$7,21&087<3,&$/&08:$//7<3,&$/6/$%21*5$'($66(0%/<7<3,&$/35(&$67&21&5(7($66(0%/<7<3,&$/),%(5&(0(17&/$'',1*:67((/678':$//7<3,&$/:22'75866)/225$66(0%/<7<3,&$/35(&$67&21&5(7($66(0%/<7<3,&$/),%(5&(0(17&/$'',1*::22'678':$//WK)ORRU
WK)ORRU
WK)ORRU
5RRI
$020(1780'(6,*1*5283//&3URMHFW1XPEHU$5&+,7(&785$/6+((76,668(')255()(5(1&(21/<3ULRU$YHQXH1RUWK$6W3DXO0LQQHVRWD'DWHEKd&KZKE^dZhd/KE276(*2:$7(5)5217',675,&748$175(//($9(276(*201$:$//6(&7,2166&$/(
:(67:$// /2%%<6&$/(
:(67:$// /281*(6&$/(
:(67:$// 522)'(&.6&$/(
522)'(&.6(&7,21'' ''6(7
N O T F O R C O N S T R U C T I O N
12" SCARIFIED SOIL BOT. ELEV.= 855.8BERM MIN. = 860.01:4 MAX.1:4 MAX.100-YR HWL = 859.20EOF = 859.5TURF REINFORCEMENT MAT CATEGORY 2BERM = 860.0BERM = 860.0OVERFLOW PER 2/C25" SOIL MEDIA70% SAND (MEETING SM CLASSIFICATION)30% MNDOT 3890 GRADE 2 COMPOSTN O T F O R C O N S T R U C T I O N
N O T F O R C O N S T R U C T I O N
N O T F O R C O N S T R U C T I O N
STESSEN 89°58'51" W 400.00N 76°02'53" WN 26°3
6'
1
3"
W
5
4
8.
2
2N 89°37'22" W 628.91S 01°23'24" W 492.39N 89°37'08" W82.6675.4580.0S 89°29'15" E 356.92S 89°58'51" E 356.92S 26°3
6'
1
3"
E
9
0.
5
1
S 63°31'58" W 81.63L O T 1B L O C K 1O U T L O T CO U T L O T ASSSSSSEO U T L O T B40.0083.16505.75S 02°08'34" E 629.3077.50129.41SL=131.82
R=523.00
=14°26'2
7
"
Buildin
g
S
et
b
a
c
k
Li
n
e
Front -
3
0 f
e
et
Side - 1
0 f
e
etS 06°26'07" W 159.81S 00°16'26" E 148.31S 07°47'30" E 128.31S 04°28'21" W 190.44NNTree Protection FenceN O T F O R C O N S T R U C T I O N
►►
►►
►►►►►►►►►►►►►►►►▌▌▌▌▌▌▌▌▌▌▌►►►►►►►►
►►ESSE►▌▌SSSL O T 1B L O C K 1O U T L O T AO U T L O T B►►►▌N O T F O R C O N S T R U C T I O N
ESSE80.0SSSS████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
████
████
█████
███
████
████
████
████
███
████
████
████
████
████
████████
█████
███
█
█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████►►
►►
►►►►►►►►►►►►►►►►862860860862862864864862862862860▌▌▌▌▌▌▌▌▌▌▌►►►►►►►►
►►►►830███N O T F O R C O N S T R U C T I O N
►►DSESSESSSS►►
►►
►►►►►►►►►►►►►►►►▌▌▌▌▌▌▌▌▌▌▌►►►►►►►►
►►N O T F O R C O N S T R U C T I O N
▌▌SSE
S
0+001+002+003+004+004+670+00862.1862.081+00862.6862.632+00862.3862.303+00862.0861.994+00862.4862.395+00844848852856860864868844848852856860864868N O T F O R C O N S T R U C T I O N
N O T F O R C O N S T R U C T I O N
N O T F O R C O N S T R U C T I O N
████►►ESSESSSS40.0083.16505.75S 02°08'34" E 629.3077.50129.41S 06°26'07" W 159.81S 00°16'26" E 148.31S 07°47'30" E 128.31S 04°28'21" W 190.44..██████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
█████
██████
███████████
███████
████4141██
████2929██
█████████████
██████
█████
████
████████
██████
██████
████████████
███████████
███████
████████
███
████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████862860860862862864864862862862860►►
►►
►►►►►►►►►►►►►►►►▌▌▌▌▌▌▌▌▌▌▌████████████████████████████████████████████████████████████████████████▌▌▌▌▌▌▌▌▌▌▌8▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌██▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌▌██▌▌▌▌▌▌▌▌▌▌▌██▌▌▌▌▌▌▌▌▌▌▌▌505 75██▌▌7575▌▌▌5505 7██▌▌▌▌▌7575▌▌▌505 75█▌▌▌505 75█▌▌▌████████505 75505 75▌▌▌████505 75███████6266626262626262666266662622262626262626226464646464648648648648686486444446444444864486486486486486422222286286286286286288888888888844486888888888888888800800000000000090900999999999911111WWWWWWWWWWWWWWWW██████████████████"W►►
►►█████████████████████████████████88686286286286288886288888628888888628888862888888862888886288888886288888628888888628888862886868686286886866626666866626686662666686662668666266866626666866626666866626686662666666666686662668666266668666266866626666866626628626262626628622222862222222862222286222222286222228622222286286286286262█████████████████████████████████████████████████████862862862862862862►►►►►►►►►
►►►►►►►►►►►►►►►►►►►►███████████████████████████████████████████████████████████████████████████████████████████████████████86286286286862862█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████►►►►►►►►
►►9W2██8█0►►4E20S█►8█
█
█
██
█9►►█►██
█████►►███
██
█999███
███►►►SS00622EE484100█22WW9████████8688█16°206S████████████8686868686868686██SS666W15188████████████████████████████████N O T F O R C O N S T R U C T I O N
N O T F O R C O N S T R U C T I O N
Building Setback LineFront - 30 feetSide - 10 feet16'-20'OPENING16'-20'OPENINGN O T F O R C O N S T R U C T I O N
ESSEN 89°58'51" W 400.00N 76°02'53" WN 26°3
6'
1
3"
W
5
4
8.
2
2N 89°37'22" W 628.91S 01°23'24" W 492.39N 89°37'08" W82.6675.4580.0S 89°29'15" E 356.92S 89°58'51" E 356.92S 26°3
6'
1
3"
E
9
0.
5
1
S 63°31'58" W 81.63L O T 1B L O C K 1O U T L O T C(TO BE VACATED)O U T L O T ASSSSSSEO U T L O T B40.0083.16505.75S 02°08'34" E 629.3077.50129.41S 06°26'07" W 159.81S 00°16'26" E 148.31S 07°47'30" E 128.31L=131.8
2
R=523.0
0
=14°26'2
7
"
Buildin
g
S
et
b
a
c
k
Li
n
e
Front -
3
0 f
e
et
Side -
1
0 f
e
etS 04°28'21" W 190.44F:\survey\nathe 2nd add - wright\1-2-1 nathe 2nd add\01 Surveying - 89813\01 CAD\01 Source\01 Survey Base.dwgFile No.F.B. No. 1123-63 inv. 89813ACertification Legal DescriptionLots 1 and 2, Block 1, Outlot A and Lot 1, Block 2, NATHE 2ND ADDITION, Wright County, Minnesota. Signed: ____________________________________________ Gregory R. Prasch Registration No. 24992Prepared May 3, 2022I certify that this plan, specification, or report was prepared by me or under my direct supervisionand that I am a duly Licensed land Surveyor under the laws of the State of Minnesota.PRELIMINARY PLATZoning & Development InformationProperty Currently Zoned: PUD - Planned Unit Development and WSRR - Wild and Scenic Recreational River District Zoning Ordinance Requirements for PUD: Building Setbacks: 1.The front and side yard restrictions at the periphery of the planned unit development conditional use permit siteat a minimum shall be the same as those imposed in the base zoning districts. A PUD Zoning District shall, atminimum, have a thirty foot (30') front yard setback and ten foot (10') side yard setback. As appropriate, the Citymay increase these standards. Building Standards: 1. No building shall be located less than fifteen feet (15') from the back of the curb line along those roadwayswhich are part of the internal street system Planned Unit Developments subject to plan approval by the City of Otsego. For further information contact: Seebelow. Zoning Ordinance Requirements for WSRR: Lot Requirements: 1. Lot area: Not less than two and one-half (21/2) acres. 2. Lot width at the water line and building line: Two hundred feet (200'). Principal Structure Setbacks: 1. Setback from ordinary high water level of Mississippi River: One hundred feet (100'). 2. Bluffline: Thirty feet (30') 3. OHW level of Mississippi RIver: Sewered - 75 feet Nonsewered - 100 feet 4. Side setback - 10 feet Building Height: 35 feetRefer to City code or contact City of Otsego for further requirements, exceptionsand restrictions at:Planning DepartmentCity of Otsego City Hall13400 90th Street NeOtsego, MN 55330phone: 763-441-4414e-mail: ddl@PlanningCo.com7601 73rd Avenue NorthMinneapolis, Minnesota 55428(763) 560-3093DemarcInc.comPreliminary Plat - Mississippi Landingsdrawn by:F:\survey\nathe 2nd add - wright\1-2-1 nathe 2nd add\01 Surveying - 89813\01 CAD\01 Source\01 Survey Base.dwgMISSISSIPPI LANDINGSProperty Address: Unassigned address, Otsego, MNProperty Identification Numbers: Lot 1, Block 1: 118260001010 Lot 2, Block 1: 118260001020 Outlot A: 118260000010 Lot 1, Block 2: 118260002010Total Area of all Parcels = 601,651 sq.ft (13.8± acres) to Mississippi River shorelineBenchmark: MNDOT monument "FIELD MNDT" located on east side of Quantrelle Ave in front ofsubject property as shown hereon. Elevation = 862.59 feet (NAVD29)By graphic interpretation only, this property is in Flood Zone "X" (area of minimal flooding) andZone "AE" (area prone to flooding) per FEMA panel map number 270747 0002 A dated 9/30/1992.100 Year Flood Elevation feet North end of property at river = 862.1 (NGVD 29)100 Year Flood Elevation feet South end of property at river = 861.7 (NGVD 29)Site Flood Elevation = 861.0 feetTitle insurance commitment showing property description and any encumbrances of record notprovided, survey subject to change. The only easements shown are from plats of record orinformation provided by client.Underground utility information from City of Otsego records, locations are only approximate and notall utilities are shown. Invert elevations shown on sanitary sewer manholes per City plansContact Gopher State One Call prior to any excavation. 651-454-0002.Property located in Section 23, Township 121, Range 23, Wright County, Minnesota.Miscellaneous NotesDenotes Found Iron MonumentDenotes Iron Monument SetLightPower PoleHydrantSanitary ManholeStorm ManholeWater ManholeCatch BasinGas MainUnderground CommunicationsUnderground ElectricSanitary SewerStorm SewerWatermainOverhead WiresLegendFlared End SectionSCALE IN FEET012060180BenchmarkFEMA Flood lineEngineer:DemarcLand Surveying & Engineering7601 73rd Avenue N.Brooklyn Park, MN 55428phone 763-560-3093fax 763-560-3522Attn: Jeff Prasche-mail: jeffprasch@demarcinc.comLOT TABULATIONProposed Number of Lots = 3Area of proposed: Lot 1, Block 1 = 215,080 sq.ft Outlot A = 287,836± sq.ft (area to shoreline) Outlot B = 46,637 sq.ft Outlot C = 52,098± sq.ft (area to shoreline) Right-of-Way = No dedication planned.Developer:Modern Construction of Minnesota18837 Ogden Street NWElk River, MN 55330phone 763-200-6376Attn: Jesse Hartunge-mail: jesse@modernconstructionmn.comProperty Owner:Ken & Julie Nathe19080 Lincoln Street NWElk River, MN 55330Development Personnel SURVEYORDemarcSurveying and Engineering7601 73rd Avenue N.Brooklyn Park, MN 55428Attn: Greg Praschphone: 763-560-3093fax: 763-560-3522e-mail: gregprasch@demarcinc.comCity of Otsego, Wright County, MinnesotaProposed Drainage & Utility Easements are shown thus:BEING 10 FEET IN WIDTH AND ADJOININGRIGHT OF WAY LINES AND 5 FEET IN WIDTHAND ADJOINING INTERIOR LOT LINES.5510R/W LineNOTE: CURRENT DRAINAGE & UTILITY EASEMENTS TO BE VACATED.Vicinity Mapno scaleSEC. 23, TWP. 121, R. 23Rev. 6/6/2022 new lot layoutRev. 6/21/2022 city commentsRev. 11/9/2022 lot linesRev. 12/16/2022 setbacksBuilding Setback LineRev. 12/16/2022 lot lines/areas
N
0
SCALE 1” = 100’
100 200 400
MISSISSIPPI LANDING OTSEGO, MN
CONCEPTUAL LANDSCAPE DESIGN
2024.03.25
1
FOUNTAIN
PLANTED ISLAND
EXERCISE STATION
PARK BENCH
PAVED PATH TO FISHING AREA
SLED HILL
BOAT DOCK
OPEN SPACE
POLLINATOR GARDEN & TRAILS
BOARDWALK
EVENT LAWN
AMPHITHEATER
PICNIC & HAMMOCK GROVE
RESORT STYLE AMENITY POOL
PAVILION
OUTDOOR DINING
PLAYGROUND
1
1
1
2
2
2
3
3
3
3
4
4
4
5
6
7
8
9
10
11
12
13
14
15
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
LEGEND
MISSISSIPPI RIVERCARRICK’S LANDING
PARKMN STATE HIGHWAY 10110
15
16
17
16
17