Citation
Teacher-Child Interactions in Voluntary Pre-Kindergarten Programs in Child Care Settings

Material Information

Title:
Teacher-Child Interactions in Voluntary Pre-Kindergarten Programs in Child Care Settings A Critical Analysis of Barriers and Facilitators
Creator:
Kim, Seunghee
Place of Publication:
[Gainesville, Fla.]
Publisher:
University of Florida
Publication Date:
Language:
english
Physical Description:
1 online resource (211 p.)

Thesis/Dissertation Information

Degree:
Doctorate ( Ph.D.)
Degree Grantor:
University of Florida
Degree Disciplines:
Curriculum and Instruction (ISC)
Teaching and Learning
Committee Chair:
Kemple, Kristen M.
Committee Members:
Bondy, Elizabeth
Cavanaugh, Christie
Jones, Hazel A.
Graduation Date:
8/9/2008

Subjects

Subjects / Keywords:
Child psychology ( jstor )
Classrooms ( jstor )
Educational research ( jstor )
Kindergarten ( jstor )
Learning ( jstor )
Preschool education ( jstor )
Schools ( jstor )
Social interaction ( jstor )
Stanzas ( jstor )
Teachers ( jstor )
Teaching and Learning -- Dissertations, Academic -- UF
barrier, child, childcare, critical, discourse, effective, facilitator, florida, interaction, interview, observation, postmodernism, prekindergarten, problem, program, qualitative, solving, teacher, thinking, voluntary
Pinellas County ( local )
Genre:
Electronic Thesis or Dissertation
born-digital ( sobekcm )
Curriculum and Instruction (ISC) thesis, Ph.D.

Notes

Abstract:
We investigated barriers to and facilitators of effective teacher-child interactions in voluntary pre-kindergarten programs in child care settings. An effective teacher-child interaction enables both teachers and children to actively engage in solving the problems they confront in their daily lives. The effective teacher-child interaction relies on their mutual respect rather than teachers'dominant positions, and enables both teachers and children to make an effort to find the best way to change the status quo through critical thinking. However, several factors that impede effective teacher-child interactions in voluntary pre-kindergarten programs in child care settings allow children few opportunities to solve their own problems and articulate their own needs by preventing teachers from effectively interacting with children. Thus, by investigating barriers to and facilitators of effective teacher-child interactions in voluntary pre-kindergarten programs in child care settings, this qualitative research project ultimately aims to find ways to empower both teachers and children through effective teacher-child interactions. Based on the theoretical orientation of critical theory and postmodernism, interviews and observations of three teachers were used in Florida's voluntary pre-kindergarten (VPK) program in child care settings, and the data were analyzed using Gee's (2005) method of discourse analysis. The interviews were conducted in the teachers' workplaces, and the observations focused on the teachers? behavior and speech in their classrooms during whole-group, free-play, and meal time. According to the steps of discourse analysis, the interview data were organized into 'stanzas,' several story lines were made, and then a number of building tasks were established. The results of data analysis demonstrate that the unique characteristics of the VPK program impede the three teachers' most effective interactions with children, even though they are aware of the importance of their one-on-one interactions with children. The findings of the study show several barriers to and facilitators of effective teacher-child interactions, as defined from a critical perspective, in voluntary pre-kindergarten programs in child care settings. This study includes a number of strategies to enhance the internal validity, reliability, generalizability, and trustworthiness of the study, including 'member checks.' In particular, my subjectivity statement shows why I am interested in this qualitative research project as well as why I believe that this study is important. By clarifying my assumptions and worldview based on my personal experiences, this subjectivity statement contributes to increasing the internal validity of this study. However, this study demonstrates several limitations resulting from the fact that the data were collected over a short period of time. Some recommendations for further research are suggested in order to address these limitations as well as to lead further research to focus on improving educational practice. As a first attempt to investigate the nature of teacher-child interactions in voluntary pre-kindergarten programs in child care settings by using the theoretical orientation of critical theory and postmodernism, this qualitative research project offers some helpful suggestions to interested practitioners, including teachers, policy makers, and researchers. ( en )
General Note:
In the series University of Florida Digital Collections.
General Note:
Includes vita.
Bibliography:
Includes bibliographical references.
Source of Description:
Description based on online resource; title from PDF title page.
Source of Description:
This bibliographic record is available under the Creative Commons CC0 public domain dedication. The University of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Thesis:
Thesis (Ph.D.)--University of Florida, 2008.
Local:
Adviser: Kemple, Kristen M.
Electronic Access:
RESTRICTED TO UF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE UNTIL 2010-08-31
Statement of Responsibility:
by Seunghee Kim.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida
Rights Management:
Copyright Kim, Seunghee. Permission granted to the University of Florida to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder.
Embargo Date:
8/31/2010
Classification:
LD1780 2008 ( lcc )

Downloads

This item has the following downloads:

kim_s.pdf

kim_s_Page_024.txt

kim_s_Page_177.txt

kim_s_Page_173.txt

kim_s_Page_064.txt

kim_s_Page_150.txt

kim_s_Page_105.txt

kim_s_Page_200.txt

kim_s_Page_038.txt

kim_s_Page_036.txt

kim_s_Page_033.txt

kim_s_Page_178.txt

kim_s_Page_115.txt

kim_s_Page_143.txt

kim_s_Page_195.txt

kim_s_Page_189.txt

kim_s_Page_046.txt

kim_s_Page_207.txt

kim_s_Page_008.txt

kim_s_Page_019.txt

kim_s_Page_183.txt

kim_s_Page_130.txt

kim_s_Page_187.txt

kim_s_Page_013.txt

kim_s_Page_152.txt

kim_s_Page_059.txt

kim_s_Page_142.txt

kim_s_Page_082.txt

kim_s_Page_194.txt

kim_s_Page_016.txt

kim_s_Page_179.txt

kim_s_Page_118.txt

kim_s_Page_134.txt

kim_s_Page_153.txt

kim_s_Page_202.txt

kim_s_Page_112.txt

kim_s_Page_095.txt

kim_s_Page_026.txt

kim_s_Page_045.txt

kim_s_Page_209.txt

kim_s_Page_029.txt

kim_s_Page_108.txt

kim_s_Page_110.txt

kim_s_Page_149.txt

kim_s_Page_073.txt

kim_s_Page_148.txt

kim_s_Page_002.txt

kim_s_Page_155.txt

kim_s_Page_154.txt

kim_s_Page_027.txt

kim_s_Page_053.txt

kim_s_Page_070.txt

kim_s_Page_165.txt

kim_s_Page_094.txt

kim_s_Page_060.txt

kim_s_Page_201.txt

kim_s_Page_168.txt

kim_s_Page_010.txt

kim_s_Page_170.txt

kim_s_Page_085.txt

kim_s_Page_145.txt

kim_s_Page_063.txt

kim_s_Page_092.txt

kim_s_Page_034.txt

kim_s_Page_188.txt

kim_s_Page_137.txt

kim_s_Page_001.txt

kim_s_Page_206.txt

kim_s_Page_077.txt

kim_s_Page_041.txt

kim_s_Page_004.txt

kim_s_Page_051.txt

kim_s_Page_015.txt

kim_s_pdf.txt

kim_s_Page_171.txt

kim_s_Page_098.txt

kim_s_Page_124.txt

kim_s_Page_089.txt

kim_s_Page_107.txt

kim_s_Page_069.txt

kim_s_Page_014.txt

kim_s_Page_003.txt

kim_s_Page_113.txt

kim_s_Page_204.txt

kim_s_Page_117.txt

kim_s_Page_084.txt

kim_s_Page_126.txt

kim_s_Page_093.txt

kim_s_Page_211.txt

kim_s_Page_083.txt

kim_s_Page_067.txt

kim_s_Page_071.txt

kim_s_Page_106.txt

kim_s_Page_114.txt

kim_s_Page_184.txt

kim_s_Page_193.txt

kim_s_Page_087.txt

kim_s_Page_011.txt

kim_s_Page_032.txt

kim_s_Page_065.txt

kim_s_Page_061.txt

kim_s_Page_021.txt

kim_s_Page_159.txt

kim_s_Page_101.txt

kim_s_Page_097.txt

kim_s_Page_074.txt

kim_s_Page_196.txt

kim_s_Page_050.txt

kim_s_Page_048.txt

kim_s_Page_056.txt

kim_s_Page_135.txt

kim_s_Page_081.txt

kim_s_Page_132.txt

kim_s_Page_186.txt

kim_s_Page_185.txt

kim_s_Page_030.txt

kim_s_Page_174.txt

kim_s_Page_175.txt

kim_s_Page_039.txt

kim_s_Page_022.txt

kim_s_Page_138.txt

kim_s_Page_018.txt

kim_s_Page_086.txt

kim_s_Page_163.txt

kim_s_Page_100.txt

kim_s_Page_043.txt

kim_s_Page_158.txt

kim_s_Page_161.txt

kim_s_Page_210.txt

kim_s_Page_123.txt

kim_s_Page_203.txt

kim_s_Page_127.txt

kim_s_Page_111.txt

kim_s_Page_104.txt

kim_s_Page_066.txt

kim_s_Page_007.txt

kim_s_Page_009.txt

kim_s_Page_047.txt

kim_s_Page_072.txt

kim_s_Page_140.txt

kim_s_Page_037.txt

kim_s_Page_012.txt

kim_s_Page_172.txt

kim_s_Page_099.txt

kim_s_Page_075.txt

kim_s_Page_023.txt

kim_s_Page_020.txt

kim_s_Page_197.txt

kim_s_Page_136.txt

kim_s_Page_199.txt

kim_s_Page_160.txt

kim_s_Page_147.txt

kim_s_Page_040.txt

kim_s_Page_120.txt

kim_s_Page_208.txt

kim_s_Page_078.txt

kim_s_Page_128.txt

kim_s_Page_028.txt

kim_s_Page_151.txt

kim_s_Page_091.txt

kim_s_Page_166.txt

kim_s_Page_129.txt

kim_s_Page_162.txt

kim_s_Page_164.txt

kim_s_Page_096.txt

kim_s_Page_157.txt

kim_s_Page_005.txt

kim_s_Page_156.txt

kim_s_Page_006.txt

kim_s_Page_058.txt

kim_s_Page_062.txt

kim_s_Page_190.txt

kim_s_Page_076.txt

kim_s_Page_181.txt

kim_s_Page_180.txt

kim_s_Page_205.txt

kim_s_Page_167.txt

kim_s_Page_049.txt

kim_s_Page_088.txt

kim_s_Page_182.txt

kim_s_Page_125.txt

kim_s_Page_176.txt

kim_s_Page_139.txt

kim_s_Page_031.txt

kim_s_Page_109.txt

kim_s_Page_141.txt

kim_s_Page_025.txt

kim_s_Page_090.txt

kim_s_Page_144.txt

kim_s_Page_103.txt

kim_s_Page_057.txt

kim_s_Page_044.txt

kim_s_Page_116.txt

kim_s_Page_119.txt

kim_s_Page_192.txt

kim_s_Page_054.txt

kim_s_Page_169.txt

kim_s_Page_080.txt

kim_s_Page_017.txt

kim_s_Page_191.txt

kim_s_Page_146.txt

kim_s_Page_122.txt

kim_s_Page_198.txt

kim_s_Page_035.txt

kim_s_Page_052.txt

kim_s_Page_079.txt

kim_s_Page_133.txt

kim_s_Page_055.txt

kim_s_Page_102.txt

kim_s_Page_068.txt

kim_s_Page_131.txt

kim_s_Page_121.txt

kim_s_Page_042.txt


Full Text





through discourses that convey the specific needs, problems, and concerns of everyday life, as

well as represent an ideological structure related to particular interests and social relations.

Causes of the Unilateral Interactions between Teachers and Children

First of all, teachers themselves are "domesticated by their own schooling" (Stokes, 1997,

p. 214), which forces students to follow "no-talking rules" all day long, which lead to the

absence of self-expression (Hankins, 1999, p. 64). Students are encouraged to sit and listen rather

than speak, as well as to simply obtain a piece of information that has already been discovered

and categorized by experts (Hinchey, 2001). Thus, students who are accustomed to "the bond of

shared silences" do not express their own experiences (Hankins, 1999, p. 64). It is hardly

surprising that this experience forces student teachers to "be passive, conforming, authoritative,

inflexible, unimaginative, apolitical, and silent" in schools, including colleges of education

(Hinchey, 2001, p. 134), as well as to learn the cultural value system that "their work is far less

important than that of doctors, of lawyers and even, judging by income comparisons, less

important than the work of plumbers" (p. 24). That is to say, teachers are not encouraged to view

themselves as intellectuals and their work or knowledge as politically and socially constructed,

but instead as merely given (Stokes, 1997). In particular, teacher training programs allow student

teachers to acquire the knowledge of what they have to teach, as well as to practice different

methods, techniques, and skills in order to efficiently transmit such knowledge to their students.

Thus, Stokes (1997) says that "the language of teacher training is the language of methods,

materials, objectives, skills, schedules, grouping, tracking, discipline, tests, diagnosis,

disabilities, deficits, interventions, remediation, and so on," since student teachers are trained to

compel their students to "acquire skills that can be evaluated efficiently through standardized

tests" by managing their students' behaviors (p. 202). In summary, teachers themselves are

taught a body of knowledge, which is guaranteed by the authority and power of schools, through









17. I'll let 'em sit on my lap

Stanza 5: She allows the children to get their stuff that makes them comfortable

18. if they need to go get their stuff,

19. if they have stuffed animals usually that they sleep with,

20. I'll let them go get that

21. if they truly need it,

22. that'll give them some comfort.

23. Or I'll just let them sit on my lap and cuddle.

Sub-sub-story 2: A low teacher-child ratio offers more one-on-one time with children

Stanza 6: A low teacher-child ratio provides children with many benefits

24. If, if we could have less kids

25. I think it would be beneficial for the students

26. if we had, like, like if we had a ratio

27. instead of two teachers to eighteen kids,

28. we had two teachers to ten or twelve kids,

Stanza 7: The low ratio enables children to have more one-on-one time with teachers

29. I think it would be a lot easier and a lot better for the children

30. because then you can have more one-on-one time with the child

31. rather than I have, I have eighteen kids and two teachers,

32. and obviously you can't be everywhere at once.

33. So if the ratios for the kids to teachers were at least like ten kids to two teachers,

34. then the kids I'm sure would benefit more

35. because they would have more one-on-one time.









National Prekindergarten Center (2004). NPC prekindergartenframework. Chapel Hill, NC: The
University of North Carolina, National Prekindergarten Center, FRG Child Development
Institute.

Neuman, S. B. (2003). From rhetoric to reality: The case for high-quality compensatory
prekindergarten programs. Phi Delta Kappan, 286-291.

Neuman, S. B., & Roskos, K. (2005). The state of state pre-kindergarten standards. Early
Childhood Research Quarterly, 20, 125-145.

NICHD Early Child Care Research Network (2000). The relation of child care to cognitive and
language development. Child Development, 71(4), 960-980.

NICHD Early Child Care Research Network (2002). Child-care structure -* process -* outcome:
direct and indirect effects of child-care quality on young children's development.
Psychological Science, 13(3), 199-206.

NICHD Early Child Care Research Network (2003). Does quality of child care affect child
outcomes at age 4 1/2? Developmental Psychology, 39(3), 451-269.

NICHD Early Child Care Research Network & Duncan, G. J. (2003). Modeling the impacts of
child care quality on children's preschool cognitive development. Child Development,
74(5), 1454-1474.

NICHD Early Child Care Research Network (2004a). Are child developmental outcomes related
to before- and after-school care arrangements? Results from the NICHD study of early
child care. ChildDevelopment, 75(1), 280-295.

NICHD Early Child Care Research Network (2004b). Type of child care and children's
development at 54 months. Early Childhood Research Quarterly, 19, 203-230.

NICHD Early Child Care Research Network (2005). Duration and developmental timing of
poverty and children's cognitive and social development from birth through third grade.
Child Development, 76(4), 795-810.

Nias, J. (1984). The definition and maintenance of self in primary teaching. British Journal of
Sociology ofEducation, 5(3), 267-280.

Park, K. A., & Waters, E. (1989). Security of attachment and preschool friendships. Child
Development, 60, 1076-1081.

Parke, R. D. (2004). The society for research in child development at 70: Progress and promise.
Child Development, 75(1), 1-24.

Patton, M. Q. (2002). Qualitative research & evaluation methods (3rd ed.). Thousand Oaks, CA:
Sage Publications.









39. We have a lot of standards.

40. They are very helpful,

41. there's so much, so there's so much

42. because how, I'll have to show you the book if you want,

Stanza 9: The information is very specific

43. but there's a unit as a whole section on their physical abilities,

44. if they, if they can do small motor things, large motor things,

45. physically, how are they physically,

46. how they're in good health,

47. do they seem to eat good food.

Stanza 10: VPK program emphasizes children's literacy

48. That's just one aspect, then you have, you have another one,

49. that's, there's a whole section on literacy on what,

50. what they need to be able to do

51. to facilitate learning to write and read

Stanza 11: VPK program includes tracking children's progress

52. and you have to, you have to track every child and see.

53. For instance, for us it's like if you were a child in my class

54. I would watch you drawing

55. and see what you needed to work on.

Stanza 12: Teachers assess many different aspects of children's development

56. I would ask you, "What letter is this?"

57. and see how many letters you know









participants?" "Does this mean what it appears to mean?" or "Are researchers observing what

they think they are looking at?" Thus, Swann and Pratt (2003) emphasize that educational

research must be based on respect for people by providing them with information about what is

and what is not ethical practice. Also, its outcomes must be important to interested practitioners,

including teachers, policy-makers, parents, and learners, so that they can employ them in new

and creative ways in order to improve educational practice. In addition, an educational research

report must be meaningful and readable to the various audiences by demonstrating what is really

happening through multiple investigators, multiple sources of data, or multiple methods, as well

as by clarifying the researcher's assumptions or biases. As a result, the report enables readers to

judge the applicability of the researcher's findings and conclusions and to determine whether the

researcher's findings fit their situations or not.

In conclusion, qualitative research methodology enables educational research to improve

educational practice by making critical and systematic inquiries as well as describing what is

really happening. This is because qualitative research assumes that reality is holistic,

multidimensional, and ever-changing, rather than a single, fixed, and objective phenomenon

waiting to be discovered, observed, and measured as in quantitative research. From this

perspective, qualitative research is interested in understanding "the perspectives of those

involved in the phenomenon of interest," discovering "the complexity of human behavior in a

contextual framework," and presenting "a holistic interpretation of what is happening" (Merriam,

1998, p. 203). At the same time, qualitative research is inherently political and is shaped by

"multiple ethical and political allegiance" (Denzin & Lincoln, 2003, p. 613). This is because

qualitative research is not objective, authoritative, or politically neutral outside the context, and

qualitative researchers as the "human-as-instrument" are historically positioned and locally









she makes every effort to get children ready for kindergarten by using her own teaching style

based on limited one-on-one interactions with children.

Building relationships

Any situation involves relationships as a component, the relationships that the people involved

enact and contract with each other and recognize as operative and consequential.

4. What sorts of social relationships seem to be relevant to, taken for granted in, or
under construction in the situation?

A teacher-child relationship and a teacher-parent relationship seem to be relevant in the

situation when she tries to deal with the problem of a child's misbehavior by means of a daily

report. According to her words, children in her pre-kindergarten classroom get a daily report, and

the report includes information about their behaviors, for example, their disposition like happy,

sad, quiet, and tired; their lunch; and their nap. Also, she says, "If they had a bad day with

hitting, I'll write a parent, for instance, saying, 'Your, you know, so-and-so, had a hard time

keeping their hands to themselves or they forgot their listening ears today.' So the parents always

knows how their behavior was, they always know it every day." That is to say, she

communicates with parents through a daily report. Moreover, she uses a daily report as a way of

correcting children's misbehavior, saying, "If I had like a bad time with a child, I'll call the

parents myself while I'm here and say, you know, 'So-and-so has had a hard day, can you please

talk to them?' and so forth." By informing parents of their child's misbehavior and asking

parents to help her solve the problem, she deals with the problem of a child's misbehavior. This

indicates that a teacher-parent relationship contributes to improving a teacher-child relationship.

Thus, a teacher-child relationship and a teacher-parent relationship seem to be relevant in the

situation when she tries to deal with the problem of a child's misbehavior by means of a daily

report.









effective teacher-child interaction. Also, teachers are able to negotiate their lesson plans or

learning methods with their children as well as to begin with children's words or understandings.

Teachers are able to take action to change their working environments and confidently voice

their opinions about the school curriculum. Thus, it is important for teachers to find ways to

facilitate effective teacher-child interactions, as defined from a critical perspective, in their

classrooms by figuring out their own as well as their workplaces' strengths and weaknesses. It is

also important for further research to include different ways of empowering both teachers and

children through effective teacher-child interactions.

As a result, this qualitative research project shows how educational research can improve

educational practice through critical and systematic inquiry as well as detailed descriptions of

what is really happening. Based on the theoretical orientation of critical theory and

postmodernism, this study defines "effective" teacher-child interaction as the process that leads

both teachers and children to solve their own problems through critical thinking. Through

effective teacher-child interactions, both teachers and children are able to develop their own

critical-thinking and problem-solving skills that are needed for them to eventually take their

places in a participatory, democratic society. In fact, by participating in this study, the three

teachers were able to realize the importance of teacher-child interactions as well as how they

interacted with children in the VPK program. Also, they were able to understand how their

behavior and speech were interpreted by the theoretical orientation of critical theory and

postmodernism. That is to say, they became aware of the fact that teacher authority over children

prevents both teachers and children from critically thinking and independently solving problems.

Thus, they are expected to more deeply think about their own ways of interacting with children

and more frequently talk about a way of changing several factors that impede effective teacher-









64. to figure out what was making them upset

65. or what was causing them not to make the choices that day

Stanza 19: She has trouble conversing with a shy and quiet child

66. or, like a episode a particularly quiet child,

67. not being able to converse with that child,

68. because they're, maybe they're shy or don't want to talk to me.

Stanza 20: Unhappy conversations with children are considered ineffective

69. That's what I would consider ineffective,

70. if we're not happy at the end of the conversation,

71. one of us is not happy.

72. We both wanna walk away

73. and to be happy in the situation with the problem solved,

74. I think it's ineffective.

Sub-sub-story 6: She asks other teachers some suggestions to solve the problem

Stanza 21: She keeps trying to solve the problem

75. We'll like, keep trying until I do.

76. I keep trying until I do,

77. we don't just give up on trying to make me and the child happy.

Stanza 22: She asks teachers to give her an idea about how to deal with the problem

78. And if I can't figure it out then,

79. I will go to another teacher, and then, like,

80. "Well, can you help me with this situation?"

Stanza 23: She gets some ideas about how to solve the problem from other teachers









competence in social-emotional motivation for school readiness (Fantuzzo, Bulotsky-Shearer,

Fusco, & McWayne, 2005). Moreover, a study by Espinosa and Laffey (2003) demonstrates that

children's academic competence is strongly correlated with teachers' ratings of social skills at

the kindergarten level. For example, children who are rated as high for behavioral problems are

rated as low for academic ability by teachers. Thus, children who display behavioral problems

are less likely to conform to teacher expectations or to establish a warm, positive relationship

with teachers and are more likely to be underestimated in their academic potential. As a result,

state-funded pre-kindergarten programs do not show sufficient evidence that the programs

contribute to improving children's long-term educational outcomes.

Second, the levels of support services of state-funded pre-kindergarten programs are very

different according to where the classroom happens to be located (Gilliam, 2005; Kaplan, 1998).

Early learning standards vary widely across states in their organizations, structures, resources,

and audiences for which they are intended, since early learning standards in states reflect their

own unique characteristics (Neuman & Roskos, 2005). In terms of income eligibility,

administrative structure and site, funding program standards like staffing and curriculum, child

care programs, and evaluation strategies, one state's program is not totally similar to that of

another state (Kaplan, 1998). These different levels of support service of state-funded pre-

kindergarten programs cause unclear standards or procedures for the programs. For example,

since the programs do not include clear procedural guidelines regarding the discipline of pre-

kindergarteners, the expulsion rates in state-funded pre-kindergarten systems are high and vary

according to classroom settings (Gilliam, 2005). The expulsion rates are the lowest in classrooms

located in public schools and Head Start and are the highest in faith-affiliated centers, for-profit

childcare, and other community-based settings. In particular, four-year-olds are expelled at a rate









TEACHER-CHILD INTERACTIONS IN VOLUNTARY PRE-KINDERGARTEN
PROGRAMS IN CHILD CARE SETTINGS: A CRITICAL ANALYSIS OF BARRIERS AND
FACILITATORS

















By

SEUNGHEE KIM


A DISSERTATION PRESENTED TO THE GRADUATE SCHOOL
OF THE UNIVERSITY OF FLORIDA IN PARTIAL FULFILLMENT
OF THE REQUIREMENTS FOR THE DEGREE OF
DOCTOR OF PHILOSOPHY

UNIVERSITY OF FLORIDA

2008









the Education of Young Children) guidelines for developmentally appropriate practice, which are

commonly considered the most suitable methods for developing children's different abilities, do

not reflect "the qualities of diversity," since the guidelines have "privileged certain ways of

being and knowing that do not recognize the diverse qualities of children and their families in a

global context" (Yelland & Kilderry, 2005, p. 5). As a result, the dominant curriculum forced by

unilateral teacher authority over children allows children to have a variety of negative emotions

by excluding them from the privileged voices of the white middle and upper classes. Moreover,

the dominant curriculum makes some children have school experiences to be characterized by

high school dropout rates, low academic achievement, weak literacy, and lack of critical thinking.

Finally, children rarely have an opportunity to participate in "a culture of inquiry," which

enables them to seek a better understanding of and improvement in the aspects of their schooling

experiences in a collaborative and collegial way, by valuing "curiosity, a willingness to try new

ideas and practices, and the ability to remain open to the unforeseen and unexpected" (Reagan,

Case, & Brubacher, 2000, p. 43). This is because unilateral teacher authority over children, as a

necessary basis for classroom management and control, allows teachers to have the authoritative

codes for interpreting meaning and text (Davies, 1993). That is to say, unilateral teacher

authority over children forces children to think and behave within teachers' values and

ideologies, which are deeply rooted in their own past experiences and reflect particular

ideological patterns, social structures, or systems of negotiation (McLaren, 1998). Teachers as

the oppressors prevent children from being conscious of the world and themselves through their

feelings and desires as well as from developing their abilities to realize and seize the world with

their own intentions (Freire, 1997). Moreover, teachers sometimes misunderstand the world of

children, since "a reservoir of emotions and thoughts to inform their understanding of the world









list of questions and prompts in order to increase the likelihood that all topics will be covered in

each interview in more or less the same way" (Dewalt & Dewalt, 2002, p. 122). Interview guides

are included in the Appendix.

The reason that I chose in-depth interviewing as the first method of data collection is that

in-depth interviewing offers "a valuable source of data on the ideologies of language that

underlie social scientific research" (Briggs, 2003, p. 499). That is to say, by providing

participants with opportunities to perceive, inquire about, and report their own thoughts and

feelings, in-depth interviewing enables participants to "reconstruct their experience and to

explore their meaning" (Seidman, 1991, p. 69). Thus, every aspect of the structure, process, and

practice of interviewing needs to be aimed at creating "a climate for mutual disclosure," which

indicates that both the interviewer and the participants willingly share their own feelings and

thoughts, and the participants are able to put their experience into language without being hurried

into interview situations prematurely (Holstein & Gubrium, 2004, p. 147).

During the interview sessions, I tried to make interviewing be informal, nondirective, and

freewheeling because I believed that a less structured atmosphere could enhance rapport with

participants (Adler & Adler, 2003). In order to establish the less structured atmosphere, I

sometimes used rephrasing of the questions since "carefully worded questions" can make

participants feel less threatened (Adler & Adler, 2003, p. 167). Also, I used "summary

feedback," which means that the interviewer "summarizes the last set of statements" expressed

by the participants, since "summary feedback" makes participants be aware that the interviewer

has heard what they are saying and encourages them to continue and expand their answers

(Dewalt & Dewalt, 2002, p. 131). In the end, I as a listener showed a genuine interest in the

participants' stories and was cautious about using my gestures or body language, for example,









89. we doubled the standards' meaning,

90. I was in a two-year-old room

91. and the, you can have ten two-year-olds to one teacher,

92. we only had two teachers with ten two-year-olds.

93. We doubled the teacher standards

94. and that really was effective.

Stanza 19: She saw the benefits of a low teacher-child ratio

95. But Pinellas County is also one of the strictest counties in Florida,

96. when it comes to children.

97. And that is more effective than what we have here.

98. Even though it's a state-regulated ratio,

99. the state puts out the ratio, but.

100. Surely nothing I can do about it when the state says, "Can't fight them."

Sub-sub-story 6: Some children make teachers prefer a low teacher-child ratio

Stanza 20: The teacher-child ratio regulated by the state is high

101. The state is probably the factor,

102. because they, the way they have made the ratios

103. so high in preschool

104. I know in school it's even higher,

105. and public school's higher.

Stanza 21: Teachers usually have some children who disrupt the class

106. You have different discipline problems that you have to deal with,

107. if I'm constantly giving my attention









CHAPTER 5
DISCUSSION AND CONCLUSIONS

This qualitative research project aims to investigate barriers to and facilitators of effective

teacher-child interactions, as defined from a critical perspective, in voluntary pre-kindergarten

programs in child care settings. In this chapter I will demonstrate barriers to and facilitators of

effective teacher-child interactions based on the results of data analysis in Chapter 4. The

findings of this study show that teachers mainly interact with children in the VPK classroom to

have them understand what they need to know to go to kindergarten. Teachers enthusiastically

teach children the rules and standards for kindergarten through their daily routine, but are

powerless to modify their working environments. Thus, the findings of this study support two

contrasting hypotheses: one is that teachers as the oppressed are forced to teach children a white,

male, European-American model through diverse techniques of normalization, such as

measurement, regulation, and evaluation; the other is that teachers as the oppressors force

children to learn such a model through the unilateral interactions between themselves and

children. In addition, I will address how the findings of this study are connected with the results

of previous research, and make some recommendations for further research, which are intended

to overcome several limitations of this study as well as to lead further research to focus on

improving educational practice. Finally, I will show how the findings of this study can be

employed by interested practitioners, including teachers, policy makers, and researchers.

Summary of Findings

First, the teachers' words that are frequently used in the classroom including talk, tell

see, learn, understand, and know have many different situated meanings. Nonetheless, these

words are commonly used for two purposes: one is to have children do what teachers expect; the

other is to give children a chance to be aware of something new or already known. That is to say,









4. and a lot of people are not reusing things and recycling items

5. and throwing away so many things,

6. the garbage piles are piling up higher and higher

7. and it's a problem, that the earth has.

Story: Teachers' concerns about the school's accountability

Sub-story 1: VPK program's specific information about the necessary skills for kindergarten

Sub-sub-story 1: What to do with a theme is based on the necessary skills for kindergarten

Stanza 2: Teachers add some problems of the earth to the school curriculum

8. So, that's one reason we've added that to our curriculum.

9. And then certain written programs are about it

10. and tell you something you can do with the children.

Stanza 3: Teachers show children how to reuse something

11. Like last year, we made paper,

12. they all brought in lint from their dryers

13. and we made paper out of it to show them

14. how we can reuse something that someone might throw away,

15. we can use it to make something else.

16. It's a good thing for them to know and think about it.

Stanza 4: Teachers decide a weekly theme based on the school curriculum

17. We have curriculum here at my school

18. that was developed over, over some years by teachers

19. and we usually go by that, by that theme each week

Stanza 5: Teachers choose what to do with a theme









and benefits that are involved in the research project (Dewalt & Dewalt, 2002, pp. 198-199).

Also, I secured or concealed all personal data by using pseudonyms of participants in field notes

as well as in possible publication, since "no one deserves harm or embarrassment as a result of

insensitive research practices" (Denzin & Lincoln, 2003, p. 218). Thus, I tried to increase the

trustworthiness of this qualitative research project by continually asking the questions of whether

participants had been given full information about what the study involved, whether participants

willingly had given their consent to participate, and whether participants in the study were

deceived in any way or not.

Limitations of the Study

In terms of internal validity, reliability, generalizability, and trustworthiness, this

qualitative research project shows several limitations resulting from the general characteristics of

qualitative research and the unique features of this research project. First of all, this research

project does not provide sufficient evidence on generalizability, which is concerned with "the

extent to which the findings of one study can be applied to other situations" (Merriam, 1998, p.

207). This is mostly caused by the fact that this research was conducted in the VPK program. As

one of the state-funded pre-kindergarten programs, the VPK program includes several limitations

of state-funded pre-kindergarten programs. One of the limitations is that the levels of support

services of state-funded pre-kindergarten programs as well as teacher qualifications are very

different according to where the classroom happens to be located. Thus, the events or individuals

in one state-funded pre-kindergarten classroom are not typical and are hard to compare with

those of another classroom. Also, this research project includes the general characteristics of

qualitative research, which is concerned with the particular situation of a single case or a small

nonrandom sample (Merriam, 1998). That is to say, I focused on the particular rather than the

general and thus selected three participants using the particular criteria that could serve the









181. Everybody is calmer,

182. it's not as loud,

183. there's not loud, as many disruptions when there's fewer kids,

184. and then there's, less disruptions

End of Story: A low teacher-child ratio contributes to effective teacher-child interactions

by providing teachers with more one-on-one time with children

FRAME: Stanza 37: Fewer children make her spend more time talking to each child

185. and there's less times I'm correcting somebody or,

186. talking to somebody, about what they're doing wrong

187. or not making a good choice.

188. When there's fewer kids, everyone just learns easier.

189. It's happier in a classroom (ha, ha),

190. you could talk more.

Table 4-3. Cindy's class schedule
7:00 Free-play
8:15 Breakfast
8:30 Clean-up and read
9:00 Outside-time (Beginning of the VPK time)
9:30 Wash hands
9:40 Circle time
10:15 Worksheets
11:00 Centers
12:00 End of the VPK time

Seven Building Tasks

Building significance

How and what different things mean the sorts of meaning and significance they are given is a

component of any situation.

1. What are the situated meanings of some of the words and phrases that seem important
in the situation?









teachers utter and to learn knowledge which constitutes "what is taken to be true" rather than

knowledge which authentically reveals and represents the real world (Usher & Edwards, 1994, p.

87). In other words, unilateral teacher authority over children forces children to be taught the

norms, values, and beliefs that contribute to reinforcing the current distribution of power in

society, such as conformity, passivity, and obedience, by leading children to practice discipline

without being aware of what is happening.

Moreover, children have a variety of negative emotions like "self-doubt, hostility,

resentment, boredom, indignation, cynicism, disrespect, frustration, and the desire to escape" by

learning the dominant curriculum in traditional classrooms, since children are forced to passively

learn the curriculum through unilateral teacher authority over them (Shor, 1992, p. 23). The

dominant curriculum is considered a key source of educational inequality because the curriculum

is historically derived from the educational practices of European upper class men (Connell,

1994). That is to say, as "outcomes of struggles over power, authority, and legitimacy, which are

decided in historically specific ways," the dominant curriculum plays a vital role in reinforcing

already existing inequality among children (Leonardo, 2003, p. 242). Also, the dominant

curriculum does not consider that schooling includes "the complex political, economic, and

cultural relations that structure it as a borderland of movement and translation" (Giroux, 1999, p.

37). Thus, each child's voice is dominated by the privileged voices of the white middle and

upper classes even though it has been shaped by his or her particular cultural and historical

backgrounds (McLaren, 1998), and the discourse of children from subordinate classes is

considered "ugly, inferior, and incorrect" speech, precisely in "the so-called multicultural

societies where the language and hegemonic culture smash and belittle the language and culture

of the so-called minorities" (Freire, 1993, p. 135). Even the NAEYC's (National Association for









are considered a standard for what is right and what is good in the VPK program in child care

settings. The prepackaged curricula as a standard control the teachers' abilities to think and know

and thus make teachers lose their confidence in their ways of thinking and behaving. As a result

of this lack of confidence, teachers have few opportunities to create their own lesson plans and

negotiate them with children as well as their parents, and thus, both teachers and children have

few opportunities to develop their own critical-thinking and problem-solving skills.

Facilitators of Effective Teacher-Child Interactions

First, teachers are able to facilitate effective teacher-child interactions, as defined from a

critical perspective, in voluntary pre-kindergarten programs in child care settings by encouraging

children to use their own words. Teachers teach children how to say their thoughts and feelings

when children need to solve their own problems like arguments with other children. For example,

when a child complains about another child's misbehavior, teachers can encourage the child to

directly tell another child that another child's misbehavior makes the child feel bad by reminding

the child about how to say his or her feelings. Teachers help the child to apply information that

he or she has already learned to a real situation rather than solving the child's problem. By

practicing a way of expressing his or her feelings, the child is able to develop his or her own way

of solving this kind of problem as well as getting along with other children. Especially in the

VPK program that emphasizes children's early literacy skills, children are able to successfully

develop the ability to express their own thoughts and feelings because teachers help them build a

good vocabulary. Even though the emphasis of the VPK program on children's early literacy

skills aims to prepare children for kindergarten, having a good vocabulary enables children to be

confident in their words, successfully understand what others are saying, and explain what is

going on. Taking into account the fact that all kinds of interactions in classrooms happen through

the medium of talk, children are able to effectively interact with other children as well as









152. people who know, teachers who know,

153. "Oh, this child came from so-and-so school,"

154. and he knows a lot, so they must have really worked.

155. And they made sure that he knew everything.

Stanza 29: The school's accountability is important

156. That's another way we were held accountable by the other schools,

157. they will, I don't know if they'll report that,

158. but they will know.

159. I'm not sure if there are some kinds of grading systems yet,

160. but that might be coming.

Stanza 30: The school needs to be accountable to parents

161. So, so we're held accountable and also to the parents

162. we have a conference with all the parents in January, in January or February,

163. I think February this year.

Stanza 31: Teachers inform parents of what their child knows

164. And we will tell them,

165. your child knows that, knows all of this,

166. but if you could work with him on this

167. while you were still working on,

168. him learning all of his letters or whatever.

Stanza 32: Parents need to make sure their child is ready for kindergarten

169. So we're accountable to the parents also

170. because they want their child ready for kindergarten









As a result, the above barriers to effective teacher-child interactions prevent both teachers

and children from critically thinking and independently solving problems. However, teachers are

able to facilitate effective teacher-child interactions, as defined from a critical perspective, in

voluntary pre-kindergarten programs in child care settings by encouraging children to use their

own words; improving their relationships with other teachers; and understanding children's

diverse ethnic, racial, cultural, and socioeconomic backgrounds. These facilitators of effective

teacher-child interactions reflect the unique characteristics of the VPK program, such as focusing

on children's literacy readiness, setting a restricted time frame, and recognizing the ethnic/racial

diversity of children. These characteristics of the VPK program have both a positive and a

negative effect on teacher-child interactions; for example, its emphasis on children's literacy

readiness requires children to practice and memorize a lot of words, but such an emphasis leads

children to learn new words or to build a good vocabulary. Such a good vocabulary enables

children to express their thoughts and feelings and to solve their own problems using their own

words. The teachers' efforts to improve the relationships among teachers within a restricted time

frame help them enhance their own critical-thinking and problem-solving skills, and the

teachers' understanding of children's diverse cultures and identities enables both teachers and

children to construct their own knowledge and to solve their own problems as active subjects.

Thus, different strategies to facilitate effective teacher-child interactions enable teachers to find

ways to overcome several barriers to effective teacher-child interactions by being aware of the

unilateral teacher-child interactions in voluntary pre-kindergarten programs in child care settings.

Connections with Previous Research

My interpretations of the findings are connected with the results of several previous

studies reviewed in Chapter 2. That is to say, my interpretations of the findings of this study are

based on the lessons learned in a number of previous, similar studies, and the hypotheses in this









Cindy's Narrative

FRAME: Stanza 1: She goes to children who seem to be unhappy

1. If they're unhappy,

2. if I see they're unhappy,

3. I'll bring them over to me

4. or I'll go to them.

Story: Many benefits of a low teacher-child ratio

Sub-story 1: Need of a low teacher-child ratio for more one-on-one time with children

Sub-sub-story 1: She has one-on-one interaction with children in different ways

Stanza 2: She asks what happened to the children

5. If I, if I'm able to get up from wherever I'm at,

6. I'll go to them,

7. and get down on their level

8. and ask them, "What's wrong?"

9. "Why do you have a sad face on?"

Stanza 3: She hugs the children to make them happy

10. And usually they'll tell me

11. and I, if I can offer,

12. I'll wait for them to be happy,

13. I'll give them hugs always,

Stanza 4: She lets the children sit on her lap to converse with them

14. but they're, it's like missing their mommy,

15. I'll say, "When will we see mommy again?"

16. And usually they'll say after nap, after free-play,









CHAPTER 3
PROCEDURES AND METHODOLOGY

This is a qualitative research project that used interviews and observations in three

teachers' workplaces, in order to investigate barriers to and facilitators of effective teacher-child

interactions, as defined from a critical perspective, in voluntary pre-kindergarten programs in

child care settings. In this research project the methods of in-depth interviewing and participant

observation are considered the most effective ways to collect data, since the methods enable this

study to describe what is really happening by focusing on the three teachers' behavior and

speech in their classrooms. In order to enhance internal validity, reliability, generalizability, and

trustworthiness, I used a number of strategies, including "member checks," which refers to

taking data and tentative interpretations back to the people from whom they are derived and

asking them whether or not the interpretations are plausible (Merriam, 1998, p. 204).

Nevertheless, this qualitative research project shows several limitations resulting from the

general characteristics of qualitative research and the unique features of this research project. In

this chapter I will explain the unique characteristics of qualitative research and how well these

characteristics fit the purpose of this research project. I will describe the three participants who

were selected according to the particular criteria that could serve the purpose of this research

project. Also, I will give details about the methods of collecting and analyzing the data as well as

many strategies used to increase the trustworthiness of this research project. Finally, I will

present several limitations of this study in terms of internal validity, reliability, generalizability,

and trustworthiness.

Qualitative Research Methodology

According to Bogdan and Biklen (2003), qualitative research has the following five

features: naturalistic character, descriptive data, concern with process, inductive method, and









I thank my family for encouraging me to pursue my academic goals. I give thanks every

day to my mother and father, who instilled a love of learning and a sense of self-confidence in

me. Thanks also to my sister, brothers, brother-in-law, and sister-in-law. Their enduring love,

support, and acceptance of what I am doing have always provided me with the inspiration for my

study and dissertation. In addition, I owe a debt of thanks to my network of friends and

neighbors, who have listened to my words, made an effort to cheer me up, and given me lots of

helpful suggestions for the completion of my dissertation. Finally, I dedicate my dissertation to

my shining niece and nephews: Jung Min Han, Jung Wook Han, and Myung Jae Kim. Their

happy smiling faces enabled me to overcome several difficulties and worries I confronted while I

was writing my dissertation. Watching them grow, I realize a wealth of responsibility to help

young children get a great future ahead of them.









108. to two or three students who have a discipline problem,

109. then that's gonna affect all my other kids

110. who are not getting my attention.

Stanza 22: The children prevent her from effectively interacting with other children

111. That's, that's the factor why someone,

112. why you don't get effective teacher interaction with the kids.

113. If you have discipline problems

114. and you're constantly stopping and dealing with,

115. if you have other things going on,

116. like right now I have Apple accreditation

117. I'm trying to do along with teaching my kids.

Sub-story 4: Positive influences of a low teacher-child ratio on teacher-child interactions

Sub-sub-story 7: Many responsibilities prevent her from freely interacting with children

Stanza 23: She is currently responsible for many things

118. I have another teacher,

119. and another VPK teacher who just got put into a VPK room

120. and doesn't understand her job,

121. so I'm doing her work load plus my work load

122. plus Apple plus try to find fun.

Stanza 24: Many responsibilities influence her way of interacting with children

123. So more stuff you have to load onto you,

124. and more responsibilities

125. I think it is, affects the teacher-child interaction.









who are more educated are paid more and are likely to stay at their jobs longer than those who

are less educated and paid less (National Prekindergarten Center, 2004). Thus, the link between

wages and turnover is understandable and undeniable because better wages and benefits reduce

teacher turnover. Both wages and turnover are clearly associated with program quality and child

development since good programs are characterized by smaller group sizes, lower teacher-child

ratios, more secure teacher-child interactions, and more educational activities.

Finally, the population of pre-kindergarten teachers is not nearly as diverse as the

population of children in state-funded pre-kindergarten programs; for example, 44% of children

are Black or Latino, but just 27% of teachers so identify themselves (Clifford et al., 2005; Saluja,

Early, & Clifford, 2002). In reality, most of the pre-kindergarten teachers are still White and are

not well matched with the ethnic/racial diversity of children in state-funded pre-kindergarten

programs. Moreover, the percentage of teachers from minority backgrounds in early education

and care programs has decreased since 1990, even though the early childhood workforce should

reflect the increasing cultural diversity of children in early childhood programs (Saluja et al.,

2002). The high rates of ethnic minority children in state-funded pre-kindergarten programs

reflect the relation between poverty concentration and minority enrollment; that is, schools with

a high minority enrollment are more likely to have a high concentration of poverty (National

Center for Education Statistics, 2003). Thus, state-funded pre-kindergarten programs consider

children with limited English proficiency as one of the most vulnerable groups for poor

educational outcomes (National Prekindergarten Center, 2004). This is because "low family

income, low maternal education, and low English proficiency are all considered key

demographic risk factors for the development of social and emotional problems" (Zigler,

Gilliam, Jones, & Malakoff, 2006, p. 78). However, few professional development programs for









116. So it's less traumatic for them when kindergarten,

117. when their parents leave,

118. because now they've gotten used to knowing

119. that their parents are going to come back at the end of the day,

Stanza 32: VPK program helps children succeed in school

120. and they are ready for it,

121. I love that VPK asks them to be ready for kindergarten

122. to be successful in the school.

Sub-sub-story 9: VPK program enables children to build a good vocabulary

Stanza 33: Teachers talk to children as much as they do in other classrooms

123. I wouldn't say that

124. that is any different than any regular preschool programs,

125. because we still talk to the kids,

126. we talk to them just as much

127. as if they're in a one-year-old room

128. as they're in a four-year-old room,

Stanza 34: Children build a vocabulary through conversations with teachers

129. we're constantly speaking with the children

130. that's how they learn their vocabulary

131. and how they learn how to interact with adults and other people.

Stanza 35: Children have trouble being prepared for kindergarten at home

132. So I see VPK basically is, has helped the kids

133. who didn't have any preschool beforehand









opportunity to explain why they behaved in a particular way or to correct some

misinterpretations. Also, the teachers were given a chance to know how their behavior and

speech were interpreted by the theoretical orientation of critical theory and postmodernism. Thus,

the teachers were able to understand the nature of teacher-child interactions as well as barriers to

and facilitators of effective teacher-child interactions in voluntary pre-kindergarten programs in

child care settings. This process of "member checks" results from one of the naturalistic

characteristics of qualitative research; that is, only a human instrument in a natural setting can

have tentative interpretations tested by the people from whom they are derived for clarification

and rectification. As a result, qualitative research methodology enables this research project to

achieve its purpose to help teachers find ways to empower both themselves and children

through effective teacher-child interactions by investigating barriers to and facilitators of

effective teacher-child interactions in voluntary pre-kindergarten programs in child care settings.

Sampling Strategy

The three teachers were selected according to Patton's (2002) purposeful sampling

strategies. The rationale of purposeful sampling is based on the fact that cases for study such as

people, organizations, and communities provide a variety of information about the

phenomenon of interest, and studying the "information-rich cases" yields a thorough

investigation of the phenomenon rather than empirical generalization from a sample to a

population (Patton, 2002, p. 230). Thus, purposeful sampling enables one to learn greatly about

essentially important issues related to the purpose of the inquiry through the "information-rich

cases."

Among several different strategies for purposefully selecting "information-rich cases," I

chose a criterion sampling strategy since the strategy provided me with an opportunity to fully

explore the central issues of this qualitative research project barriers to and facilitators of









The dominant status of the standards for kindergarten in the curriculum of the VPK

classroom appears through her speech. For example, during whole-group time, she says, "You

need, I know you can do it, name on it with all the capitals. That's really good, but the

kindergarten teachers, let me show you, they want the capital "G" like you do, then little "a,"

little "b," little "r," little "i," little "e," and little "1," just like we've been having you do your

name on those, your name papers. You need to start doing it in that way, okay?" This indicates

that the standards for kindergarten fix the way children write their names and need children to

follow that way. In order to go to kindergarten, pre-kindergarten children need to know and

practice the way of writing their names. Thus, teachers involve the way in the curriculum of the

VPK classroom since they should prepare children for kindergarten. In other words, the way of

writing children's names based on the standards for kindergarten is considered to be proper in

the VPK classroom, and this indicates the dominant status of the standards for kindergarten in

the curriculum of the VPK classroom.

Building connections

In any situation things are connected or disconnected, relevant to or irrelevant to each other, in

certain ways.

6. What sorts of connections looking backward and/or forward are made within and
across utterances and large stretches of the interaction?

During the first formal interview, she says that it is pretty easy to understand what

children are feeling because children are freely open and do not hide their feelings. Her

understanding of children's feelings helps her have more effective interactions with children

because she is able to think about what children are going to do and react to it in an appropriate

way. In particular, she emphasizes that her teaching experience enables her to easily figure out

what children are feeling, saying "That's true, experience makes a big difference." That is to say,









Third, she has no chance to talk to other teachers in the school and develops teaching

methods on her own. The school has three VPK classrooms, and each classroom is based on the

same curriculum. The pre-kindergarten teachers do the same kind of work, but have different

teaching styles. For example, a spelling test in her pre-kindergarten classroom is not part of the

school curriculum but one of the teaching strategies that she uses to get children ready for

kindergarten. As for the relationships between teachers in the school, she says, "We don't have

time like we don't (1.0) get a break at the same time to go," and "There's usually no time to talk

to the other teachers so (1.0), kind of come in and do our work and then leave when it's time to

leave." That is to say, teachers in the school do not have an opportunity to share their ideas about

how to teach or interact with children with other teachers. Teachers develop their own teaching

styles by themselves rather than learning from other teachers' experiences. Each classroom is

isolated from all the other classrooms and is operated by each teacher's independent judgment.

These facts make teachers feel isolated from all the other teachers and give them a sense of

identity.

As a result, as a teacher in the school, she is proud of the school curriculum because she

believes that the school curriculum enables teachers to successfully get children ready for

kindergarten, but she feels isolated from all the other teachers because she has no time to talk to

other teachers and develops teaching methods on her own. In addition, as a pre-kindergarten

teacher, she is strongly convinced that children in her pre-kindergarten classroom are well

prepared for kindergarten, but she complains about the high teacher-child ratio in her pre-

kindergarten classroom because the ratio prevents her from having enough one-on-one

interactions with children. Thus, her different identities seem to be relevant in the situation when









CHAPTER 2
REVIEW OF THE LITERATURE

In this chapter I will review the literature on teacher-child interactions as well as on pre-

kindergarten programs, especially state-funded pre-kindergarten programs, by using the

theoretical orientation of critical theory and postmodernism. By examining the effectiveness and

limitations of state-funded pre-kindergarten programs, this literature review shows the general

characteristics of state-funded pre-kindergarten programs that voluntary pre-kindergarten

programs in child care settings are based on. This literature review includes how teacher-child

interactions in child care settings play a significant role in children's early learning and

development. Also, this review presents how teacher-child interactions are influenced by

different factors of child care settings and mainly consist of talk between teachers and children.

In addition, this review looks at how teacher-child interactions are characterized as unilateral, as

well as how the unilateral teacher-child interactions prevent children from being aware of their

social reality and taking action to make changes in that reality. Finally, this review considers

how teachers as the oppressed and oppressors are able to overcome the unilateral teacher-child

interactions in child care settings by taking account of the causes and problems of the unilateral

teacher-child interactions.

Critical Theory

Critical theory examines "the patterns and meanings enacted within and among people in

specific social locations at specific points in history" and expresses "particular relations of

culture, power, and identity" (Keenan, 2004, p. 540). It also assumes that "the relationship

between concept and object and between signifier and signified is never stable or fixed and is

often mediated by the social relations of capitalist production and consumption; that certain

groups in any society and particular societies are privileged over others; that mainstream









academic activities more actively and interact with peers more positively (National Institute of

Child Health and Human Development, Early child care research network, 2002). As for

teachers' perceptions about teacher-child interactions, a study by Howes and Hamilton (1992a)

shows that teachers are most sensitive to and involved with children who have a secure

interaction with them, and they are least sensitive to and involved with children who have an

avoidant interaction with them. Especially in the case of children with disabilities or at-risk

children, teachers view the intellectual abilities and behaviors of these children less favorably

than those of typical children, and interact with the children negatively and inappropriately

(Chapman, Larsen, & Parker, 1979; McKinney & Feagans, 1983). Also, the ways that teachers

teach and organize children and tasks influence the quality of teacher-child interactions. A study

by Stipek (2004) shows that more didactic and less constructivist teaching is particularly

prevalent in schools and classrooms with a high proportion of low-income children, children of

color, and poorly-achieving children. This situation results from teachers' beliefs that

"sequentially ordered curricula that maximize the teacher's direct control over learning

opportunities are best suited to these children" (p. 552), and directly results in a big class size or

a high teacher-child ratio, which is likely to cause insecure, inappropriate teacher-child

interactions.

Second, the styles of teacher-child interactions are different depending on types of

activity settings, such as group activity, free play, and meal time. In the case of book reading as a

group activity, an observational study by Dickinson (200 b) shows that teachers mainly interact

with children for the purpose of instruction, for example, "asking children to attend, taking steps

to control their behavior, evaluating children's responses, and, when necessary, correcting their

incorrect responses" (p. 247). That is to say, teachers typically interact with children in book









evaluations consist of as little as a pretest and post-test of participants, while others use

comparison groups of varying resemblance to the participants. Bamett et al. (2005) also say that

the most difficult problem of the evaluations is "possible selection bias due to unmeasured

differences between the children who attend state-funded preschool programs and those who do

not" (p. 3). Especially in the case of universal pre-kindergarten programs, it is difficult to obtain

an adequate comparison group since the programs are freely available to all children and few

children are not engaged in the programs. Thus, various evaluations of state-funded pre-

kindergarten programs prevent researchers from gaining best estimates of program impacts or

certainty about the effectiveness of the programs. Nevertheless, several studies provide scientific

evidence that state-funded pre-kindergarten programs positively contribute to improving the

learning and development of at-risk children as well as other children and improving their

preparation for the increasingly rigorous challenges of kindergarten.

Limitations of State-Funded Pre-Kindergarten Programs

First, state-funded pre-kindergarten programs tend to focus on children's cognitive

development rather than the whole of child characteristics considered essential for successful

school readiness, like self-regulatory skills (Francis, 2006; Neuman, 2003). In particular, Francis

(2006) points out that the programs help children increase their reading and mathematics skills at

school entry, but the programs boost children's classroom behavioral problems, such as fighting,

arguing, or disturbing others, and reduce their self-control, such as controlling their temper,

accepting peer ideas for group activities, or responding to peer pressure in an appropriate way.

These negative behavioral effects continue until the spring of first grade, while the positive

effects of the programs on skills largely dissipate. In fact, these negative behaviors are likely to

do some damage to their academic achievement in later years, because socially negative

behaviors in classrooms are associated with poorer attitude toward learning and lower









98. that they can actually trust another grown up, another adult

99. that's someone that is not their parents.

Stanza 28: Children can trust and have good relationships with other adults

100. They can, they can grow to love us and everything,

101. we have great relationships with our kids.

102. I love that about the VPK.

Sub-sub-story 8: VPK program gets children ready for kindergarten

Stanza 29: Many children were not prepared for kindergarten before the VPK started

103. Before VPK,

104. we see a lot of children not ready for kindergarten.

105. Like we may see a lot not knowing how to write their names,

106. not knowing what the alphabets are or colors or anything that,

107. that is expected from children nowadays,

108. before they even get into the kindergarten.

109. And as for kindergarten we see,

Stanza 30: Children learn the necessary skills for kindergarten through the VPK program

110. after VPK we see,

111. the kids have learned so much for a whole year,

112. we have not had a problem where we felt

113. the kid was not ready for kindergarten at the end of the year.

Stanza 31: Children become accustomed to a kindergarten classroom setting

114. We see that the children are so excited about the kindergarten

115. and now they, they've gotten used to being in a classroom setting.









reality, the schedule of the VPK classroom is restricted because the schedule is arranged within

only three hours. Thus, teachers in the VPK classroom are constantly working and teaching

because they do the same amounts of work as teachers in a full-day classroom do within only

three hours. However, she says, "We do have a leeway time for if, you know, we feel like (3.0)

we wanna stay a little longer at snack time or we wanna stay a little longer outside to play or

longer project time room, we can, you know, shorten it in some places, shorten it in somewhere

else and take that time out." That is to say, teachers are able to change their classroom schedule a

little bit, but such changes are not easy. This is because they need to get the director's approval

when they want to change the schedule. As a result, the fact that she has to follow the schedule

of the VPK classroom and has trouble changing the schedule shows that she is only an employee

of the school, and this gives her a sense of identity.

Building relationships

Any situation involves relationships as a component, the relationships that the people involved

enact and contract with each other and recognize as operative and consequential.

4. What sorts of social relationships seem to be relevant to, taken for granted in, or
under construction in the situation?

A teacher-child relationship and a teacher-teacher relationship seem to be relevant in the

situation when she tries to deal with ineffective teacher-child interactions. She says that she has

trouble conversing with a child who is shy or does not want to talk to her. She considers the

situation when she has an unhappy conversation with the child as ineffective teacher-child

interaction. In order to solve this problem, she tries to make both her and the child feel happy in

different ways. For example, she goes to other teachers and asks, "Well, can you help me with

this situation?" As a result, she gets some suggestions and tries them until she finds the best way

to solve the problem. If she finds that the suggestions are not working, she goes to the director









First of all, this qualitative research project offers partial evidence on internal validity

despite its several strategies to enhance internal validity, including "member checks," which

refers to taking data and tentative interpretations back to the people from whom they are derived

and asking them whether or not the interpretations are plausible (Merriam, 1998, p. 204).

Nevertheless, this research project provides insufficient evidence on the validity of the findings,

since the data were collected over a short period of time. In addition, since this research project

was conducted over a short period of time, I did not have sufficient time to establish a close

rapport with the participants. This indicates that both I and the participants partly understood and

shared reciprocal cultures and beliefs, and this research project is based on such an

understanding. Thus, one recommendation for further research is to examine the nature of

teacher-child interactions over a longer period of time, which would enable researchers to

observe the same phenomenon repeatedly and to establish a close rapport with participants. Such

research would enable researchers to explain participants' behavior and speech as well as what is

happening in more different and holistic ways. Also, researchers are able to offer more detailed

descriptions of the moment-to-moment encounters between teachers and children. Thus, further

research on the nature of teacher-child interactions in voluntary pre-kindergarten programs in

child care settings over a longer period of time would contribute to increasing the internal

validity and trustworthiness of this research project.

Another limitation of this research project is that it does not provide sufficient evidence

on generalizability. I focused on the particular rather than the general and thus selected three

participants using the particular criteria that could serve the purpose of this study. As a result, the

situations of this study are not typical, and the findings of this study cannot be readily applied to

other situations. Therefore, another recommendation for further research is to investigate the









more than the guidelines do, saying, "All of my kids (2.0) practically all of my kids, my eighteen

kids right now can skip kindergarten. If you go to another school and see what my kids can do

versus another school who just plays all day, there's gonna be a big difference. My kids can

write their name, my kids can (2.0) do spelling test and ace them, my kids can do a lot of stuff

that other kids can't." That is to say, she enjoys teaching children using the school curriculum

because the curriculum provides children with a lot of opportunities for academic achievement

and success in school. She, as a teacher in the school, is very proud of the school curriculum as

well as teaching children in the school using the curriculum. Also, as a pre-kindergarten teacher,

she feels absolutely sure that her children are prepared for kindergarten better than children in

other schools. These facts give her a sense of her own identity.

Second, she considers the high teacher-child ratio as the biggest barrier to effective

teacher-child interactions. She thinks that the teacher-child ratio set by the state is high, and the

ratio does not reflect the conditions of different classroom settings. Thus, she believes that the

ratio does not enable teachers to have enough one-on-one interactions with children or to provide

children with a stable classroom atmosphere. As for the benefits of a low teacher-child ratio, she

says, "Everybody is calmer, you know, it's not as loud, there's not loud, as many disruptions

when there's fewer kids, and then there's, you know, less disruptions, and there's less times I'm

(2.0) correcting somebody or talking to somebody, you know, about what they're doing wrong or

not making a good choice. When there's fewer kids, everyone just learns easier. It's happier in a

classroom (ha, ha), you could talk more." That is to say, she is dissatisfied with the teacher-child

ratio set by the state, but she cannot change the ratio since the ratio is based on the researchers'

findings and controlled by the state. This fact shows that she is powerless to modify her teaching

environment, but gives her a sense of identity.









Stanza 36: Teachers have to work with children who do not understand letters

190. you look at your records say,

191. he still doesn't, he still doesn't understand,

192. these different letters and the sounds of the letters so.

193. Then you have to find the time

194. when you can work with them on that

195. or make sure that they're participating in

196. a game that talks about, those sounds of those letters.

End of Story: The school's accountability makes teachers try hard to get children ready for

kindergarten

FRAME: Stanza 37: Teachers have to record everything that happens to each child

197. So it's, so it's a lot more (2.0) mental preparation

198. and also on paper

199. and we have to write all these things down

200. and have a record of each child.

201. So, that affects a lot.

Table 4-1. Susan's class schedule
9:00 Group time: Roll call, Pledge of allegiance, Calendar, Story, Helper chart, Poem &
Songs
9:20 Free-play: Art, Dramatic play and other centers
10:15 Switch rooms: Another group time with story, Review and Recall
11:15 Clean-up: Another group time Review and Recall, Educational game
11:30 Outside
12:00 End of the VPK time









for their poor learning experiences resulting from their poor home environments, even though

high-quality child care does not directly lead to children's positive developmental outcomes. For

example, high-quality child care can help ethnic minority children to develop different skills to

handle the current and unpredictable problems resulting from racism or discrimination in the

society as well as to reinforce their racial and personal identities (Johnson, Jaeger, Randolph,

Cause, Ward, & NICHD Early Child Care Research Network, 2003). As a result, pre-

kindergarten programs are rooted in the notion that preschool programs play an important role in

helping children expand their developmental outcomes through enriching learning experiences

and, in particular, helping disadvantaged children enter school as well prepared as their

advantaged peers.

School readiness needs multidimensional support as well as the abilities of children

themselves, such as age-appropriate motor skills, emotional and behavioral regulation, adult and

peer interaction skills, communication skills, and cognitive and academic skills (Neuman &

Roskos, 2005; Zigler, Gilliam, & Jones, 2006). The multidimensional support includes family

resources like good physical and mental health, school resources such as professional

development for teachers, and community resources including high-quality child care (Zigler,

Gilliam, & Jones, 2006). For example, children's language and cognitive skills, which are

important predictors of their school readiness, are linearly associated with child care quality,

including teacher-child interactions. (Burchinal, Peisner-Feinberg, Bryant, & Clifford, 2000;

Burchinal, Roberts, Nabors, & Bryant, 1996; NICHD Early Child Care Research Network, 2000;

NICHD Early Child Care Research Network, 2003; NICHD Early Child Care Research Network,

2004a; NICHD Early Child Care Research Network, 2004b; NICHD Early Child Care Research

Network & Duncan, 2003; Parke, 2004; Peisner-Feinberg, Burchinal, Clifford, Culkin, Howes,









Cindy considers the high teacher-child ratio as the biggest barrier to effective teacher-child

interactions. Her previous experience of teaching children in a classroom that provided a low

teacher-child ratio made her understand the importance of a low teacher-child ratio in teacher-

child interactions. Cindy thinks that the teacher-child ratio set by the VPK standards is high and

the ratio does not reflect different classroom situations. However, since she cannot change the

ratio, she has to teach children in the classroom with the ratio. In other words, she has to follow

the rules set by dominant academics and institutions and is powerless to modify her teaching

environment.

From her experiences, she knows that a low teacher-child ratio enables teachers to have

more one-on-one interactions with children. That is to say, teachers are able to easily pay

attention to each child and successfully help each child learn new skills or facts. Along with a

low teacher-child ratio, she emphasizes a small class size because it contributes to improving

children's learning environments by making children feel calmer and more relaxed. In addition,

she considers free-play time as the best time for effective teacher-child interaction, since children

are more relaxed during that time than during whole-group or meal time. As a result, her way of

interacting with children is strongly influenced by external factors, including teacher-child ratio,

class size, and time.

Cindy's narrative shows what makes her attach a lot of importance to a low teacher-child

ratio and how a low teacher-child ratio affects teacher-child interactions as well as children's

learning. Also, her narrative points out why the teacher-child ratio set by the VPK standards is

not reasonable and how policy makers or researchers have to decide an appropriate teacher-child

ratio. Thus, Cindy's narrative demonstrates how her discourses controlled by the hierarchical

organizations of school systems influence her way of interacting with children.









research practices are generally, although most often unwittingly, implicated in the reproduction

of systems of class, race, and gender oppression" (Kincheloe & McLaren, 2005, p. 304). From

this perspective, all social interactions between teachers and students are characterized as

hierarchically structured, since students want to be rewarded for exhibiting discipline,

intellectual behavior, or hard work (Giroux, 1988). Teachers, as experts "possessing knowledge

of and judgmental power over children," transmit information to their children through

structured curricula and specialized textbooks as well as interactions with children, and this

professional behavior is guaranteed by "the existence of power as infused, as located within the

knowledge and methods that we choose, and as potentially dangerous" (Canella, 2005, p. 30).

Thus, the interactions between teachers and children are considered one of the examples of "the

conflicting relationship between social classes within an economy based on the exchange of

commodities" (Brookfield, 2005, p. 23), involving how teachers maintain and exercise power as

well as how children are resilient and resist that power (Dahlberg, Moss, & Pence, 1999). This

perspective looks different from a traditional view of teacher-child interaction, which is

concerned with the most successful ways to learn a particular body of knowledge, to produce

common moral judgment, and to provide school structures that reproduce the existing society

(Giroux, 1988). From this traditional viewpoint, teachers are characterized as people who help

children effectively learn a set of skills and a body of knowledge to use in the wider society, and

children are mainly taught curriculum packages through teacher-child interactions as well as

formal instruction in school as an instructional site.

In particular, the interactions between teachers and children play an important role in

reproducing ideology, which contributes to maintaining the power of a dominant group by

characterizing the interests of this dominant group as universally true beliefs (Brookfield, 2005).









that the teachers have few opportunities to develop their own critical-thinking and problem-

solving skills through active conversations with other teachers.

Finally, the three teachers consider children's positive reaction to what teachers are

saying as effective teacher-child interaction. Children's positive reaction to teachers' words

means that children demonstrate their understanding of the meaning of teachers' words and what

is expected of them through enjoyment, happiness, or satisfaction. From the same perspective,

the situation when children do not understand what teachers are saying or do not perform what is

expected of them is considered ineffective teacher-child interaction. Thus, the three teachers are

concerned about children who do not speak English well or who do not express their thoughts or

feelings because of their shyness or silence. This concern is because the teachers have trouble

making these children understand what teachers expect or figuring out what they are thinking

and feeling. In particular, since the teachers need to get children ready for kindergarten, they are

seriously worried that these children will not succeed in kindergarten because of their

misunderstanding of teachers' words. Similarly, the teachers are concerned about children who

have mental or behavioral problems, since they have difficulty interacting with the children and

preparing the children for kindergarten.

The three teachers make an effort to have one-on-one interaction with children in order to

deal with the situation when they have trouble interacting with children. By enabling the teachers

to figure out and respond to each child's needs, one-on-one interaction with children helps them

understand what a child is thinking and feeling as well as what kind of problem the child has. For

example, when teachers need to know if a child understands the directions or to make sure that a

child follows the directions, they ask the child a question about the directions and give the child a

chance to answer the question. In addition, when a child displays a behavioral problem like









Fantuzzo, J. W., Bulotsky-Shearer, R., Fusco, R. A., & McWayne, C. (2005). An investigation of
preschool classroom behavioral adjustment problems and social-emotional school
readiness competencies. Early Childhood Research Quarterly, 20, 259-275.

Feldstein, S., Hane, A. A., Morrison, B. M., & Huang, K. Y. (2004). Relation of the postnatal
attachment questionnaire to the attachment Q-set. Journal of Reproductive andInfant
Psychology, 22(2), 111-121.

Fenimore-Smith, J. K. (2004). Democratic practices and dialogic frameworks: Efforts toward
transcending the cultural myths of teaching. Journal of Teacher Education, 55(3), 227-
239.

Figueroa-Britapaja, J. R. (2002). Education in the United States: Puerto Rican perspectives. In G.
S. Boutte (Ed.), Resounding voices: School experiences ofpeople from diverse ethnic
backgrounds (pp. 247-273). Boston, MA: Allyn & Bacon.

Finn Jr., C. E. Voluntary Prekindergarten. Hoover Press: Peterson/Florida (pp. 229-244), from
http://www.teachmorelovemore.org/PDF/ktffloridabook_229.pdf.

Fisher, R. (2005). Teacher-child interaction in the teaching of reading: A review of research
perspectives over twenty-five years. Journal ofResearch in Reading, 28(1), 15-27.

Florida's voluntary prekindergarten program. Office of Early Learniug. Florida Department of
Education, from http://www.fldoe.org/earlyleaming/vpkparent.asp.

Foucault, M. (1975/1995). Discipline &punish: The birth of the prison. New York: Vintage
Books.

Foucault, M. (1980). Poi~ e, knii,, ledge Selected interviews & other writings 1972-1977 (C.
Gordon, Ed.). New York: Pantheon Books.

Francis, B. (1999). Modernist reductionism or post-structuralist relativism: Can we move on? An
evaluation of the arguments in relation to feminist educational research. Gender and
Education, 11(4), 381-393.

Francis, D. R. (2006). Does prekindergarten improve school preparation and performance?
Retrieved June 19, 2006 from http://www.nber.org/digest/mar05/w10452.html.

Frankenstein, M. (1997). Breaking down the dichotomy between learning and teaching
mathematics. In J. W. Fraser, D. Macedo, T. McKinnon, & W. T. Stokes (Eds.),
Mentoring the mentor: A critical dialogue i iih Paulo Freire (pp. 59-87). New York:
Peter Lang Publishing, Inc.

Fregean, L. A., & Leier, R. D. (2002). In J. J. Slater, S. M. Fain, & C. A. Rossatto (Eds.), The
Freirean legacy: Educating for social justice (pp. 172-183). New York: Peter Lang
Publishing, Inc.









children pay attention to their words and learn new skills or facts. Teachers also need children to

sit and listen rather than speak, to give expected answers to teachers' questions, or to say the

right words that teachers already know. Thus, teachers prefer free-play time or meal time to

whole-group time, since they are able to feel more relaxed and freely talk to children about

diverse issues during that time. Nevertheless, teachers cannot change the time frame of the VPK

program as well as the teacher-child ratio and class size set by the VPK standards, and thus, this

prevents teachers from having sufficient one-on-one time with children and effectively

interacting with children.

Third, the teachers' lack of confidence in what is right and what is good is considered one

of the barriers to effective teacher-child interactions, as defined from a critical perspective, in

voluntary pre-kindergarten programs in child care settings. Especially in the VPK program,

teachers use prepackaged curricula, which focus on children's literacy readiness, include

continuous assessments of children's abilities, and demand the school's accountability to the

state and the parents. Even though the prepackaged curricula are based on both the guidelines for

the VPK program and the school curriculum that has developed over the years, they reflect the

standards for kindergarten more than the school curriculum. Teachers have children write their

names in a particular way that is used in kindergarten, do a spelling test, do homework with their

parents, and practice a kindergarten lifestyle like traveling classrooms. In order to make sure that

their children will fare well in kindergarten, teachers involve children in these classroom

activities by depending on the prepackaged curricula that control children's different

developmental domains, including health and social/emotional/motor development, language and

communication, emergent literacy (reading readiness), cognitive development, and general

knowledge. Thus, the prepackaged curricula that strongly reflect the standards for kindergarten









evidence of barriers to and facilitators of effective teacher-child interactions, as defined from a

critical perspective, in voluntary pre-kindergarten programs in child care settings.

Finally, this qualitative research project will lead future research to further explore how

teachers as the oppressed and oppressors overcome the unilateral teacher-child interactions in

voluntary pre-kindergarten programs in child care settings. The above literature review implies

that, in order to do so, teachers must engage in the struggle for their liberation by acquiring "a

critical awareness of oppression through the praxis of this struggle" (Freire, 1970/2001, p. 51).

This is because as long as the oppressed are not aware of the causes of their conditions, their

status in the structure of domination and their fatalistic attitudes towards the current situations

are less likely to change or be improved. Thus, teachers need to realize the reality that they, as

"victims of a systematic culture of oppression," have been acculturatedd, assimilated, and melted

into a single frame of mind that is repressive and limiting" (Figueroa-Britapaja, 2002, p. 264).

They also need to be aware of how they as the oppressors instill knowledge supported by the

authority and power of a dominant class or group into children through the interactions between

themselves and children at the moment of classroom engagement. Shor (1992) suggests that

teachers can negotiate their lesson plans, learning methods, and personal experiences with their

children as well as begin with children's words, themes, and understandings, and children can

relate critical thinking to everyday life by examining "daily themes, social issues, and academic

lore" and by questioning "rules, work relations, and daily episodes often taken for granted" (p.

44). Also, teachers can use more open-ended questions, clarification questions, and

conversational yes/no questions that attempt to involve children in conversation than

"commands, test questions, and yes/no questions that serve to elicit a specific vocal, verbal, or

action response from the child" (Girolametto et al., 2000, p. 1102). These methods enable both









Raven," and "Curious George." When a child asks her what kind of beverage she is drinking, she

answers the question and explains where it is from and what is included in it. This conversation

develops into discussion about where children were born and where their parents came from. In

addition, during free-play time, she pretends to be a monster and encourages children to pretend

to be something else, saying, "Stacy, what are you? Are you still a polar bear? What are you?

What are you guys? Are you a sea monster still? I thought you guys got rid of the sea monster."

And she chases children like a monster, and children enjoy playing with her and seem to be

really joyful. These utterances show that she tries to talk to children as often as possible, and

their discussion ranges over various topics. As a result, these utterances are connected to the

previous utterances because these utterances provide evidence that she uses every chance she

talks to children as time for effective teacher-child interactions.

Building significance for sign systems and knowledge

In any situation, one or more sign systems and various ways of knowing are operative, oriented

to, and valued or disvalued in certain ways.

7. What sign systems are relevant (or irrelevant) in the situation (e.g., speech, writing,
images and gestures)? How are they made relevant (and irrelevant), and in what
ways?

During the first formal interview, she says that teachers try to make children use their

own words in order to get children ready for kindergarten. For example, she says, "Like they're

having a problem with someone else, and, 'Oh, this person pushed me, oh, this person took my

toys or whatever.' We'll ask them, well, 'We want you to tell him how they made you feel,' 'Tell

them how they did you like that.' And, now we're saying more that the kids are talking to each

other, and we try to get them to know that they could use their own voice, that they can (1.0) say

what they want or say what they don't like with each other and their friends will understand, so

they don't have to (2.0), you know, run to the teacher every time that, (1.0) it builds more









nature of teacher-child interactions in voluntary pre-kindergarten programs in settings other than

child care settings. By focusing on where voluntary pre-kindergarten programs take place,

further research on the nature of teacher-child interactions in voluntary pre-kindergarten

programs in settings other than child care settings would offer more and deeper information

about the nature of teacher-child interactions in voluntary pre-kindergarten programs. Also, such

research would include different ways of empowering both teachers and children through

effective teacher-child interactions, as defined from a critical perspective. This is because such

research enables teachers to figure out their own as well as their workplaces' strengths and

weaknesses and to more successfully find ways to facilitate effective teacher-child interactions in

their classrooms. As a result, teachers are able to have more confidence that they are capable of

changing the status quo.

In fact, the notion that teachers are able to facilitate effective teacher-child interactions,

as defined from a critical perspective, does not directly indicate that they are able to overcome

several barriers to effective teacher-child interactions. However, the process of searching for and

using different strategies to facilitate effective teacher-child interactions directly contributes to

the empowerment of teachers and children, and this empowerment leads teachers to find ways to

overcome several barriers to effective teacher-child interactions. This is because this process is

based on the teachers' awareness of the causes and problems of the unilateral teacher-child

interactions in their classrooms; that is, this process comes from the teachers' awareness of the

fact that teacher authority over children prevents both teachers and children from critically

thinking and independently solving problems. By acknowledging the importance of effective

teacher-child interaction the process that leads both teachers and children to solve their own

problems through critical thinking, teachers are able to change their previous understanding of









negatively because of arguments about the way to care for the child, cost, and being late to pick

up the child, and thus, most teachers have felt criticized by parents (Kontos, 1995). As a result,

teachers have unequal access to school decision-making processes, such as "what kinds of people

will teach which grades and subjects" or "what kind of people will be responsible for policies

governing classroom activity" (Hinchey, 2004, p. 25). This indicates that teachers rarely have an

opportunity to voice their opinions on educational reform, which refers to correcting a real

problem that impacts children's lives through the authentic interactions between teachers and

children as well as among children (Roselli, 2005). Instead, teachers are apt to keep the unilateral

interactions between themselves and children, as they are accustomed to the structure of

domination already existing in schools.

Problems of the Unilateral Interactions between Teachers and Children

Children learn to manifest personality types willing to accept the characteristics of the

social relationships that govern the structures of the workplace, such as conformity, passivity,

and obedience (Giroux, 2001), by being accustomed to unilateral teacher authority over them and

experiencing a patience that is rooted in an unwarranted submission to authority. For example, a

study by Leavitt (1994) shows that the arrangement of the rooms in child care settings is

determined by the necessity of custodial routines, and all the aspects of children's lives,

including sleeping, playing, and eating, are conducted in one place according to the shared

authority of the caregivers. This arrangement of the physical environment is interpreted as

"enclosure," a space "closed in upon itself' (Foucault, 1975/1995, p. 141), and indicates that

children's mobility is limited within certain boundaries and is controlled by the caregivers'

management of routines and their exercise of power. Thus, the arrangement of the rooms and

materials enables children to practice discipline, which organizes the space at the same time

(Foucault, 1975/1995). The societal regulatory practices lead children to passively accept what









in child care settings strongly reflect the characteristics of teacher-child interactions in child care

settings.

Moreover, there is little research on the nature and quality of teacher-child interactions in

pre-kindergarten programs, even though many studies show the positive effects of pre-

kindergarten programs on children's developmental needs. This lack of research makes this

qualitative research project depend on the existing research on the characteristics of teacher-child

interactions in child care settings. Thus, this qualitative research project examines teacher-child

interactions in voluntary pre-kindergarten programs in child care settings, based on the teacher-

child interactions in child care settings that are characterized by the theoretical orientation of

critical theory and postmodernism as teacher authority over children. In this chapter I will

explain the unique characteristics of Florida's voluntary pre-kindergarten (VPK) program and its

limitations, such as an inadequate accountability system of the VPK program. Also, I will clarify

the purpose of the study, along with a statement of the problem and the importance of the study.

Finally, I will make my subjectivity statement in order to increase the internal validity of this

study.

Florida's Voluntary Pre-Kindergarten (VPK) Program

Florida's voluntary pre-kindergarten (VPK) program, as the result of a constitutional

amendment passed by 60% of Florida voters in November 2002, began in the 2005-2006 school

year. As an early childhood development and education program, the VPK program is voluntary,

high quality, and free for eligible children regardless of family income. Similar to other states'

pre-kindergarten programs, the VPK program is based on its own early learning standards, which

reflect its own organizations, structures, and resources. First of all, unlike many other state-

funded pre-kindergarten programs, the VPK program is independent from public school systems

(Finn Jr., http://www.teachmorelovemore.org/PDF/ktf floridabook_229.pdf). That is to say, the









children interact with the morning teacher, the afternoon teacher, and the assistant teachers, and

each interaction between a child and a teacher has a particular pattern. Whenever a new teacher

comes to a classroom, a child and the teacher construct a new relationship and the relationship

develops with a certain pattern in their environment. Thus, children who have experienced

negative interactions with teachers are likely to distrust teachers or other adults and to have

fewer opportunities to learn social skills than any other children. A study by Ashiabi (2000)

shows that caregiver-child interactions play an important role in identifying children's emotions

in social interactions with peers as well as children's affective displays, negotiation skills, and

abilities to learn classroom regulations and perceive their expectancies. Children who have

secure interactions with caregivers are able to display accurately both positive and negative

feelings in all situations, as well as to see their surroundings as responsive, stable, and secure

(Cicchetti, Ganiban, & Bamett, 1991; Katz & McClellan, 1997). As a result, the dependability

and responsiveness of the caregiver affect the quality of the caregiver-child interaction and lead

to different caregiver's expectations for children, which differently have an impact on children's

later expression of emotion and regulation of emotion (Sroufe, 1996).

Several studies show that teacher-child interactions in preschool strongly affect children's

later developmental outcomes (Burchinal, Peisner-Feinberg, Pianta, & Howes, 2002; Hamre &

Pianta, 2001; Howes, 2000; Peisner-Feinberg, Burchinal, Clifford, Culkin, Howes, Kagan, &

Yazejian, 2001; Pianta & Stuhlman, 2004). A study by Hamre and Pianta (2001) shows that early

teacher-child interactions are unique predictors of children's academic and behavioral outcomes

in early elementary school. Especially in the case of the children who have high levels of

behavioral problems in kindergarten, the kindergarten teachers' perceptions of conflict and over-

dependency are related to their behavioral and academic problems through eighth grade. In









school. This is because Korean private schools are controlled by both their foundations and the

Korean government, while Korean public schools are dominated only by the Korean government

in terms of teachers, textbooks, physical environments, facilities, equipment, and curricula. This

means that these school systems are very hierarchically structured and prevent teachers from

thinking creatively and critically as well as expressing their thoughts and opinions freely. Thus, I

felt that teachers were identified as the lowest persons in the hierarchical organizations of

schools even though they were classified as the highest position in each classroom.

In addition, in the 1970s and 1980s, I had been taught subjects with sixty or seventy

students in the classroom in Korea. This physical environment forced teachers to consider one-

way, cramming methods of teaching as the best way of instruction; for example, teachers had

students memorize everything in textbooks, and students were not allowed to ask their teachers

questions about the content of the textbooks. Teachers always said something in order to transmit

knowledge, and students only listened to their instruction in order to get a good grade. I had

never experienced or imagined teachers' instruction based on dialogue, reflection, and

communication. I had only written down teachers' lectures from the beginning to the end. Some

of the teachers regularly checked if students took notes and considered students' abilities to write

down clearly and accurately as one of the excellent students' talents. I made every effort to

exactly write down teachers' lectures in class and spent a lot of time organizing and rewriting the

lectures at home after class. Moreover, I was sometimes able to contact teachers in order to talk

about my future like entering my next school, but rarely got in touch with teachers in order to

discuss personal matters. When I was called on by teachers, I expected that I would be rebuked

or warned rather than praised or encouraged.









I ask them open-ended questions, which means they can't just say yes or no they have to
talk to me about it, so that improves their vocabulary and helps the interaction.

If we're sitting close to them, we usually try to talk about, you know, talk about things to
go to the vocabulary.

Finally, the meaning of "talk" is sometimes considered to be equal to the meaning of

"interact." "Talk" means that teachers and children give and take their thoughts and feelings

based on mutual respect, trust, and understanding. Also, the word "talk" means that teachers

share their thoughts and feelings with other teachers when teachers "talk" to each other.

We just go and interact. We might go into the dramatic play area, and, for instance, we're
having, uh, a bakery shop, we might talk to them about it, "What do you think we need to
make a bakery shop?"

We talk to each other about what we learn, you know, to help the other teachers, to be able
to do some of those things that we will be successful with.

Next, she frequently uses the word "tell" during the interviews and observations, and it

has three different situated meanings. First, when she wants children to express their thoughts

and feelings obviously and positively, she uses the word "tell." Especially when children

complain about other children's misbehavior, she allows children to say their feelings using the

word "tell." Thus, the word "tell" means that teachers and children articulate their opinions

persuasively and clearly.

After the story, uh, we talk about what it was about and I let them tell me things about the
story.

We staple the paper together, and they can draw pictures and then they tell us what they
write for their book, we do that a lot too.

Remember what we talked about. Tell him how you're feeling. Don't just hit.

That hurts your feelings. You need to tell her, okay?

The second meaning of 'tell' is to explain or describe something. That is to say, the

meaning of "tell" is to provide information about something, and thus, teachers and children are

able to use it.









Keenan, E. K. (2004). From sociocultural categories to socially located relations: Using critical
theory in social work practice. Families in Society: The Journal of Contemporary Social
Services, 85(4), 539-548.

Kincheloe, J. L., & McLaren, P. (2005). Rethinking critical theory and qualitative research. In N.
Denzen & Y. Lincoln (Eds.), The Sage Handbook of Qualitative Research (3rd ed.) (pp.
303-342). Thousand Oaks, CA: Sage Publications.

King, J. T. (2004). Service-learning as a site for critical pedagogy: A case of collaboration,
caring, and defamiliarization across borders. Journal ofExperiential Education, 26(3),
121-137.

Kontos, S. (1999). Preschool teachers' talk, roles, and activity settings during free play. Early
Childhood Research Quarterly, 14(3), 363-382.

Kontos, S., Howes, C., Shinn, M., & Galinsky, E. (1995). Quality in family child care & relative
care. New York: Teachers College Press.

Ladd, G. W., & Profilet, S. M. (1996). The child behavior scale: A teacher-report measure of
young children's aggressive, withdrawn, and prosocial behaviors. Developmental
Psychology, 32(6), 1008-1024.

La Paro, K. M., Pianta, R. C., & Stuhlman, M. (2004). The classroom assessment scoring
system: Findings from the prekindergarten year. The Elementary School Journal, 104(5),
409-426.

Lather, P. (1984). Critical theory, curricular transformation and feminist mainstreaming. Journal
ofEducation, 166(1), 49-62.

Leonardo, Z. (2003). Ideology, discourse, and school reform. Westport, CT: Praeger Publishers.

Leavitt, R. L., & Power, M. B. (1989). Emotional socialization in the postmodern era: Children
in day care. Social Psychology Quarterly, 52(1), 35-43.

Leavitt, R. L. (1994). Power and emotion in infant-toddler day care. Albany, NY: State
University of New York Press.

Lidz, C. S. (2003). Early childhood assessment. Hoboken, NJ: John Wiley & Sons, Inc.

Lincoln, Y. S., & Guba, E. G. (1985). Naturalistic inquiry. Thousand Oaks, CA: Sage
Publications, Inc.

Lobman, C. L. (2006). Improvisation: An analytic tool for examining teacher-child interactions
in the early childhood classroom. Early Childhood Research Quarterly, 21, 455-470.

MacLeod, J. (1995). Ain't no making' it: Aspirations & attainment in a low-income
neighborhood. Boulder, CO: Westview Press.









friends contributes to improving teacher-child relationships because it enables children to

continually listen to what teachers are saying without being upset that they are not picked for

something. It also contributes to improving child-child relationships because it enables children

to learn good sportsmanship as well as to make their friends have higher self-esteem.

Building politics (the distribution of social goods)

Any situation involves social goods and views on their distribution as a component.

5. What social goods (e.g., status, power, aspects of gender, race, and class, or more
narrowly defined social networks and identities) are relevant (and irrelevant) in this
situation? How are they made relevant (and irrelevant), and in what ways?

The school authority and family values are relevant in the situation when parents help

children do their homework. Every Friday, her pre-kindergarten classroom sends home the

homework that a child cannot do by him/herself and parents should be involved in. For example,

teachers have parents and children make an "R" collage with the letter "R," by cutting out things

that begin with the letter "R" from magazines, books, or newspapers and pasting them to a piece

of thin cardboard. Also, teachers have parents teach their children what they have already learned

in school, since teachers believe that children are able to successfully learn what teachers are

saying through repetition. As for the benefit of this parent involvement in the homework, she

says, "The kids like say, 'Yeah, my mom helped me out with this and we did this together,' and

they know there have been more stories and they're more proud of, 'My dad did this, my dad

helped me cut out this,' and it's more involvement when they're more interested in the

homework because they're doing it with their mom and dad. And so (3.0) that lets them learn

better, 'cause they're interested in it and it's not something that they have to do, (3.0), it's

something that they get to do with mom or dad." That is to say, this parent involvement in the

homework makes children interested in the homework, be proud of doing their homework with

their mother or father, and actively engage in learning.









make children remember teachers' words. Within those contexts, the fact that children "learn"

something in classrooms means that children keep in mind what teachers are saying by repeating

it many times.

It's like confirming what we are already teaching the kids and then, and then the parents
teach them too because the kids learn through repetition, and so it helps the kid out more,
and they seem like the more successful in school and in class where their parents help them
at home to learn the same thing.

It's just a teaching tool, the more songs they sing is easier for them since like I pick up the
song and they'll remember what we want them to learn.

Finally, the word "leam" means that teachers and children accidentally become

acquainted with something. She uses the word "leam" in the situation when children get to know

how valued they are through the process of expressing their feelings verbally. That is to say,

teachers give children an opportunity to express their feelings, and this opportunity allows

children to "learn" how valued they are.

We're gonna find out what makes him or her upset and (2.0) make them happy (2.0) and
usually just telling us about it (2.0) satisfies them and let them tell us about that, "Such and
such made me upset," and they're gonna talk to you about that, they learn that they are
valued and their emotions are valued.

Building activities

Some activity or set of activities is a component of any situation (the specific social activity or

activities in which the participants are engaging; activities are, in turn, made up of a sequence of

actions).

2. What is the larger or main activity (or set of activities) going on in the situation?

The main activity is to get children ready for kindergarten, and this main activity mostly

takes place during whole-group time, but is connected to all kinds of children's actions. This

main activity consists of several sub-activities, which are made up of a number of different

actions that are related to what children need to know to go to kindergarten.









In the case of traditional whole-class instruction, teachers mostly lead classroom talking,

decide who is to talk, and normally evaluate what children are required or permitted to say. Also,

teachers ask children a lot of questions and children answer very briefly, and most

communication occurs within a "central action zone." This kind of structured, teacher-directed

instruction leads children to comply with what the leaders of society think as well as the status

quo, since teachers force all children to move through "the same learning sequence" (Westwood,

Knight, & Redden, 1997, p. 227). In addition, children have trouble getting opportunities to

communicate their own thoughts, ideas, and feelings as well as to share their own stories and

experiences with others.

As a result, the conversations between teachers and children resulting from the unilateral

teacher-child interactions prevent young children from developing their abilities to solve

problems; from recognizing and dealing with their own problems in their daily lives; and from

articulating their experiences, thoughts, needs, ideas, and problems in classrooms.

Importance of the Study

The unilateral teacher-child interactions in child care settings allow children few

opportunities to engage in developing their different abilities independently and actively by

preventing teachers from effectively interacting with children. Taking into account the fact that

effective teacher-child interactions in child care settings significantly contribute to children's

early learning and development, this problem is considered a threat to improving the quality of

child care and other early childhood programs.

In particular, voluntary pre-kindergarten programs in child care settings tend to focus on

children's academic competence rather than the whole of essential skills for successful school

readiness, such as self-regulatory skills. This tendency leads the conversations between teachers

and children to aim at improving children's academic outcomes rather than ranging over various









children's activities or routines within different classroom settings. In child care settings, the

organization and management of daily routines reflect teachers' power over children and are

very differently implemented by each teacher's and school's characteristics. For example, a

teacher may allow children to spend more time playing outside rather than learning academic

subjects, even though other teachers in the same school focus on children's educational

competence. This situation raises many questions, including why the teacher focuses on

children's free-play or how the teacher can use his or her own classroom schedule different from

that of other teachers. Those questions are influenced by several elements in which the effects of

teachers' power over children are articulated. In particular, teachers currently interact with

children from much more diverse ethnic, racial, cultural, and socioeconomic backgrounds than in

the past (Zimiles, 2000). These children come to school with much different learning experiences

and varied developmental needs. Within the situation when teachers need to work with children

who are very different in many ways, the effects of teachers' power over children are very

different and need to be examined by considering differentiated interactions between teachers

and children. Thus, in order to explain how teachers' power over children is exercised differently

within a specific classroom setting, this qualitative research project uses postmodernism as

another theoretical orientation.

Postmodernism includes plural voices and narratives, which "emerge from historically

specific struggles," and emphasizes specific knowledge within "particular configurations of

space, place, time, and power" (Giroux, 1988a, p. 15). Postmodernism includes "diversity,

complexity, subjectivity, and multiple perspectives" (Dahlberg et al., 1999, p. 106), and it prefers

"a process-driven" approach to education to "a product-driven" one (p. 184). That is to say,

postmodernism assumes that "there are no fixed or value-free facts," "no one interpretation is the









TABLE OF CONTENTS

page

A C K N O W L E D G M E N T S ............................ ................. ............................................................ 3

LIST O F TA B LE S .................................................................................. 8

A B STR A C T ......... .. ............................... ... .......................................................................... 9

CHAPTER

1 IN T R O D U C T IO N ......... ............................................... .......................... .. .. ....... ..... 11

Florida's Voluntary Pre-Kindergarten (VPK) Program........... .............................. 12
Limitations of Florida's Voluntary Pre-Kindergarten (VPK) Program............. .............. 16
D e fin itio n s ....................... ................................................................................ . ..... ..... 1 9
T he P problem ......... ........................................ ............................ 20
Im portance of the Study .............. ............. ................... ........ ...... ................. 21
Purpose of the Study ............ .................. ................... .... .. .. ........ ............ ..... 22
G u hiding R research Q u estion ................................................................................................... 22
Subjectivity Statem ent ........... .............. ....... ... ............ ............ .. 23

2 REVIEW OF THE LITERATURE.............................................................. .............. 26

C critical T h eory ......... .... .............. .................................... ............................ 2 6
P o stm o d em ism ............... ... .................................... ................................................ ... 2 8
Rationale of Pre-Kindergarten Programs.................................................. ................ 31
Effectiveness of State-Funded Pre-Kindergarten Programs ............................................... 34
Limitations of State-Funded Pre-Kindergarten Programs .............................................. 36
Teacher-Child Interactions in Child Care Settings .............. .............................. ....... ....... 41
Nature of Teacher-Child Interactions ................................................. 44
Unilateral Interactions between Teachers and Children .............................. .............. 48
Causes of the Unilateral Interactions between Teachers and Children............................. 51
Problems of the Unilateral Interactions between Teachers and Children............................ 54
S u m m a ry ............. ..... ............ ...................................... ............................................ ..... 5 7

3 PROCEDURES AND METHODOLOGY ................. .......... ................... 61

Qualitative R research M ethodology......... .................................... ................. .............. 61
S am p lin g S trateg y ............. ................. ................. ................................................. 6 6
Sam pling Procedures............ .. ................................. .. ..... ...... ........... .. 67
Description of Participants and Context ........... ..................................... 68
D ata C collection M methods .... .................................. ................... .... .... .......... ... 71
Interview s ................. ................................... ........................... 7 1
Observations ............................................ ............... 73









31. and their friends will understand,

Sub-sub-story 3: Children develop their independence by using their own words

Stanza 10: Children develop their independence

32. so they don't have to, run to the teacher every time that,

33. it builds more independence

34. that they know they can solve their own problems.

Stanza 11: Children can solve their own problems using their own words

35. So that's the interaction we've been doing

36. lately to try to get the kids to know that,

37. they have a voice that they can speak with each other

38. as well as not only to the teachers, to the,

39. with their peers as well.

Stanza 12: She usually tells children what she wants

40. The strategy that I usually use here,

41. basically I wouldn't say

42. there's a specific strategy as I talk to the kids,

43. I talk to them like, I talk to anybody else,

44. tell them what I want

Stanza 13: Children feel valued when expressing their feelings

45. and ask them what they would like to,

46. and just basically we use the words to express our feelings

47. and to know that their feelings are valuable.

Sub-sub-story 4: Children learn how to interact with others by conversing with teachers









trouble understanding teachers' words in kindergarten and might not be understood by other

children or teachers.

A second sub-activity is to assess children's abilities. The aim of this sub-activity is to

figure out what each child already knows and needs to know. This sub-activity consists of seeing

what each child is doing through one-on-one interaction, filling out different forms for each

child, and keeping track of each child's progress, for example, completing each child's portfolio.

A third sub-activity is to create the school curriculum based on the standards for

kindergarten and the guidelines for the VPK program. This sub-activity consists of discussing the

school curriculum with other teachers, gathering information through different sources such as

participation in a conference, and sharing different experiences with other teachers. Through

these kinds of actions, teachers obtain specific information about children's learning and create

the school curriculum that maximizes the children's learning.

Building identities

Any situation involves identities as a component, the identities that the people involved in the

situation are enacting and recognizing as consequential.

3. What identities (roles, positions), with their concomitant personal, social, and cultural
knowledge and beliefs (cognition), feelings (affect), and values, seem to be relevant
to, taken for granted in, or under construction in the situation?

From the interview and observation data, her role as a pre-kindergarten teacher seems to

be mainly connected to the school's accountability. Her major concern is how well teachers get

children ready for kindergarten, saying, "At least I think in this county they keep track of what

school they attended before. So this school will become known, you know, as either being

excellent or not, according to how many children know what they need to know when they go to

kindergarten." Thus, her instruction mostly focuses on increasing children's literacy and

allowing children to accomplish their tasks well in kindergarten. For example, during whole-









81. or if that doesn't work out,

82. which that hasn't ever been the case,

83. then I will go to, maybe the director.

84. My system director asks, "What do you think?"

85. to get some suggestions on how can I solve the situation.

Sub-story 3: Positive effects of the VPK program on getting children ready for kindergarten

Sub-sub-story 7: VPK program helps children learn how to interact with others

Stanza 24: Her personal experience made her love the VPK program

86. I love the VPK program.

87. When it first started, I put my daughter in it

88. because not everybody needs to go to preschools,

89. so there's a lot at home with moms.

Stanza 25: Children learn how to interact with others through the VPK program

90. And so I love how it gets them ready for kindergarten, I mean.

91. So I love that, the kids are learning

92. how to interact with other kids their own age

93. when they just could've been at home with their moms,

94. they're not getting any interactions with moms.

Stanza 26: Children learn how they should behave in school through the VPK program

95. I love how they're learning

96. what is expected of them in a classroom setting,

Stanza 27: VPK program helps children learn how to interact with other adults

97. and I love how they learn









Building connections

In any situation things are connected or disconnected, relevant to or irrelevant to each other, in

certain ways.

6. What sorts of connections looking backward and/or forward are made within and
across utterances and large stretches of the interaction?

As for typical teacher-child interactions during meal time, she says, "There's, um,

unfortunately usually not a lot of time for interaction that I have found, because we're so busy,

we only have a set amount of time that we're allowed in there." In order to feed eighteen to

twenty children, teachers have to give them their plates and milk, see what they need when they

finish eating, have them put away their chairs, and clean the tables. She spends the majority of

the meal time encouraging children not to talk, to finish eating, and to throw trash away. For

example, she says, "Are you eating or talking? If you don't have a clear plate in front of you, you

are not talking. We're eating and leaving. When you're done, throw it out. If there's plenty on

your plate, don't ask me for more." Thus, she says that she has little time to interact with

children during meal time. These utterances are considered teachers' directives because teachers

need children only to follow the directions rather than expecting any feedback from children.

Since teachers and children have to do so much work within a restricted time frame, teachers

allow children only to understand what teachers are saying and to do what teachers expect

immediately.

In addition, among whole-group, free-play, and meal time, she considers free-play time

as the best time for effective teacher-child interactions, saying, "That's what the, you know,

more what they wanna do and they're more relaxed, you're more relaxed usually, unless you're

trying to do something else like an art activity or something." During free-play time, she allows

children to decide for themselves where they want to go and what they want to play with. In









ACKNOWLEDGMENTS

I owe everything to many people who have encouraged me to complete my doctorate

over the years. My deepest thanks go to my supervisory committee members. I am extremely

grateful to my supervisory committee chair, Dr. Kristen Kemple, for her encouragement and

guidance in every piece of my dissertation. As a mentor and advisor, she has provided me with

many ideas and opportunities that have truly helped to guide my professional career for four

years. To my other outstanding supervisory committee members, Dr. Christie Cavanaugh, Dr.

Elizabeth Bondy, and Dr. Hazel Jones, I wish to express my gratitude for their immense practical

help and comments about my dissertation. Their comments helped me brainstorm every step of

the way from the first stage of my dissertation proposal until the final dissertation defense. Also,

I would like to express my thanks to Dr. Ellen Brantlinger, Dr. Phil Carspecken, and Dr. Mirka

Koro-Ljungberg, who gave me a wealth of useful information about qualitative research

methodology. I earnestly thank my undergraduate advisor, Dr. Seung Urn Choe, for encouraging

me to study in the United States.

I am indebted to First Presbyterian Preschool in Gainesville, Florida, which provided an

opportunity to volunteer for pre-kindergarten children over three years. This opportunity

extended my experience of working with culturally diverse children and their families as well as

my knowledge about pre-kindergarten programs in child care settings. I am especially grateful to

the three teachers who participated in my dissertation project for their truthfulness and

willingness to share their stories with me. They helped me to be aware of the importance of the

relationships between participants and researchers. My thanks also go to the directors of the three

teachers' workplaces, who introduced the three teachers to me and gave me permission to

conduct this study.









income families to children from low-income families. This is because those economically

advantaged children are likely to have sufficient academic skills and be already prepared for

kindergarten, and a VPK provider is able to easily meet its school readiness targets by enrolling

those advantaged children.

As a result, both the poor VPK standards and an inadequate accountability system of the

VPK program are likely to negatively influence the school readiness of children from low-

income families. In particular, the VPK program, unlike most of the state-funded pre-

kindergarten programs that make an effort to decrease the achievement gap between

disadvantaged children and their advantaged peers, does not state clearly or specifically how to

improve disadvantaged children's school readiness. For example, New Jersey and Kentucky aim

to provide children in poverty with free preschool education, and New Jersey law especially

mandates free, high-quality preschool for 3- and 4-year-olds living in the state's highest-poverty

districts in order to remedy their socioeconomic disadvantages (State of Florida Agency for

Workforce Innovation, http://www.floridajobs.org/earlylearing/VPK/WhyPreKimportant.html).

However, the VPK program requires parents to be responsible for their child's transportation.

This is likely to prevent low-income families from choosing a high-quality pre-kindergarten

provider that has a positive effect on their child's learning. This is because the families might not

be able to give their child a ride or to afford a car. This indicates that improving disadvantaged

children's school readiness needs more intensive and extensive services as well as more

resources. Moreover, this indicates that the state needs to make a larger investment in the VPK

program even though "money is not an adequate proxy for high quality" (Wilkins, 2005, p. 3).

Thus, the school readiness of children from low-income families is unlikely to be significantly









Seven Building Tasks

Building significance

How and what different things mean the sorts of meaning and significance they are given is a

component of any situation.

1. What are the situated meanings of some of the words and phrases that seem important
in the situation?

In the first and second formal interviews, she frequently uses the word "talk," and the

word "talk" is differently interpreted according to each situation. First, the meaning of "talk" is

that teachers and children simply express their thoughts and feelings. That is to say, the word

"talk" means that teachers and children say something rather than conveying the particular.

If they don't talk and listen a lot, they might not understand the test questions, you know,
that seems to happen.

It's, uh, it's a lot easier for a child to start reading and writing if they can talk well and they
can hear people talking a lot.

Second, the word "talk" means that teachers involve children in discussing a certain topic

by making children pay attention to the topic. In the situation when teachers teach children a

certain subject by giving children a chance to say their ideas about the subject, the situated

meaning of "talk" is to discuss something.

We talk about, um, for instance, this week we were talking about recycling and reusing
items, you know, saving, trying to keep the earth clean.

We talk about that subject again, "Who talked about the recycling?" Later on today I just
ask them, "Do you remember what we were talking about this morning?"

Third, the word "talk" has the meaning that teachers say what they want children to do

and children are required to do what is expected of them. Through "talk," teachers ask children

to do what teachers expect. In other words, "talk" is considered a means of having children do

what teachers expect.









2. How effective was the interaction?

3. What made the interaction effective?

4. Were there factors that constrained the interaction? If so, what were they?

Interview Guide for the Second Informal Interview

I would like to ask you about teacher-child interactions during free-play time:

1. I noticed that you ..... (an example of teacher-child interactions). Was this a typical
kind of interaction for free-play time?

2. How effective was the interaction?

3. What made the interaction effective?

4. Were there factors that constrained the interaction? If so, what were they?

Interview Guide for the Third Informal Interview

I would like to ask you about teacher-child interactions during meal time:

1. I noticed that you ..... (an example of teacher-child interactions). Was this a typical
kind of interaction for meal time?

2. How effective was the interaction?

3. What made the interaction effective?

4. Were there factors that constrained the interaction? If so, what were they?

Interview Guide for the Second Formal Interview

I want to talk to you about the factors that promote effective teacher-child interactions in

your classroom as well as how to overcome some barriers to effective teacher-child interactions

you confront in your classroom.

1. You have ( ) years of teaching experience. Have you changed the way you interact
with children over time? If so, how have you changed the way you interact with
children? Why have you changed the way you interact with children?

2. What do you think are the ways teachers can promote effective teacher-child
interactions in their classrooms?

3. What do you expect are the factors that prevent you from promoting effective
teacher-child interactions?









curricula, and these limit their abilities to change educational relations or standards. The

teachers' limited abilities prevent them from stepping back from their classroom practices and

considering broader educational concerns or employing a more holistic view of teaching. In the

same way, the three teachers use the prepackaged curricula based on both the guidelines for the

VPK program and the school curriculum that has developed over the years, and are forced to

increase children's literacy readiness through continuous assessments of children's abilities. The

prepackaged curricula as a standard control the teachers' abilities to think and know and thus

make teachers lose their confidence in their ways of thinking and behaving. This finding is

consistent with the results of Gitlin's (2001) study on how teachers are powerless against the

dominant ideology in classrooms. Therefore, Gitlin's (2001) study contributes to my

interpretation of the prepackaged curricula in the VPK program and helps me realize how this

lack of confidence has an effect on teacher-child interaction. At the same time, the findings of

this study add a detailed description of the prepackaged curricula in the VPK program to Gitlin's

(2001) study.

Implications for Professional Practice

The findings of this study are very useful for teachers in state-funded pre-kindergarten

programs to interact more effectively with children. The findings of this study show the nature of

teacher-child interactions resulting from the characteristics of the VPK program in child care

settings, for example, how teachers interact with children within the time frame of the VPK

program, how the curriculum of each VPK classroom based on the guidelines for the VPK

program influences teacher-child interactions, and how the teacher-child ratio and class size set

by the VPK standards affect teacher-child interactions. Such information can be used by teachers

in other state-funded pre-kindergarten programs, including other VPK classrooms, even though

the levels of support services of state-funded pre-kindergarten programs as well as teacher









144. not in the lunch room.

145. But otherwise they're playing from 7:00 to 9:00,

146. it's just play time.

Stanza 29: She feels more relaxed during free-play time

147. During the VPK time? Probably play time,

148. 'cause that's what the, more what they wanna do

149. and they're more relaxed,

150. you're more relaxed usually,

151. unless you're trying to do something else

152. like an art activity or something.

Stanza 30: She prefers eating in her classroom to in the cafeteria

153. I prefer in my room,

154. there's been days like when our cook isn't here,

155. and we have to eat in our room,

156. I think I'm the only one of the teachers in the building

157. that likes to have to eat in the room.

Stanza 31: She has difficulty in leading many children to the cafeteria

158. I cheer when I don't have to walk over there,

159. 'cause it is a hassle, a hassle trying to walk over there,

160. 'cause I have eighteen kids sometimes or twenty in line,

161. get 'em over there,

162. get 'em fed to where and,

Stanza 32: Her classroom provides her with more opportunities to talk to children









Massey, S. L. (2004). Teacher-child conversation in the preschool classroom. Early Childhood
Education Journal, 31(4), 227-231.

McCollum, J. A., Bair, H. (1994). Research in parent-child interaction: Guidance to
developmentally appropriate practice for young children with disabilities. In Mallory, B.
L. & New, R. S. (Eds.), Diversity & developmentally appropriate practices: Challenges
for early childhood education (pp. 84-106). New York: Teachers College, Columbia
University.

McIntyre, A. (1997). Making meaning of whiteness: Exploring racial identity i ith white
teachers. Albany, NY: State University of New York Press.

McKinney, J. D., & Feagans, L. (1983). Adaptive classroom behavior of learning disabled
students. Journal ofLearning Disabilities, 16(6), 360-367.

McLaren, P. (1998). Life in schools: An introduction to critical pedagogy in the foundations of
education (3rd ed.). New York: Addison Wesley Longman, Inc.

McLaren, P., & Farahmandpur, R. (2002). In J. J. Slater, S. M. Fain, & C. A. Rossatto (Eds.),
The Freirean legacy: Educating for social justice (pp. 37-56). New York: Peter Lang
Publishing, Inc.

Merriam, S. B. (1998). Qualitative research and case study applications in education: Revised
and expanded from case study research in education. San Francisco, CA: Jossey-Bass
Publishers.

Merriam, S. B. (2002). Introduction to qualitative research. In S. B. Merriam (Ed.), Qualitative
research in practice: Examples for discussion and analysis (pp. 3-17). San Francisco,
CA: Jossey-Bass, A Wiley Company.

National Center for Education Statistics (2003). Prekindergarten in U.S. public schools: 2000-
2001, statistical analysis report. U. S. Department of Education, Institute of Education
Sciences.

National Institute of Child Health and Human Development, Early child care research network
(2002). The Relation of Global First-Grade classroom Environment to Structural
Classroom Features and Teacher and Student Behaviors. Elementary School Journal,
102(5), 367-387.

National Institute for Early Education Research (NIEER) (2006). Op-ed: What kind of pre-k
house hath Florida built? National Institute for Early Education Research. Retrieved
August 23, 2006 from www.nieer.org.

National Institute for Early Education Research (NIEER) (2008). State-funded preschool
enrollment passes one million mark, yet most 3- and 4-year-olds are denied access to
public preschool programs. National Institute for Early Education Research. Retrieved
March 19, 2008 from www.nieer.org.









71. you can interact more freely with them,

72. you can interact more one-on-one

73. and that's really important

74. I think it's the, more one-on-one attention

75. that I would think it could be the only barrier's the ratio of kids to teachers.

76. Otherwise, I don't really think there is a barrier within an interaction.

Stanza 16: Researchers need to go to different classroom settings

77. The ratios come from researchers,

78. I think they're wrong (ha, ha).

79. If somebody is actually in the classroom and not just one classroom,

80. if they go all over Florida

81. and go from different classroom settings to different classroom setting,

Stanza 17: Researchers need to ask teachers their ideas about a teacher-child ratio

82. I think they would have a better idea of ratios with kids

83. than just sitting at a desk and typing up the paper

84. and, researching it that way,

85. if they would ask the teachers,

86. "What do you think?"

Sub-story 3: Beneficial effects of a low teacher-child ratio on children's development

Sub-sub-story 5: She saw that children had benefited greatly from a low teacher-child ratio

Stanza 18: She taught children in the classroom with a low teacher-child ratio

87. I came, I used to live in Pinellas County, in Florida Pinellas County,

88. and the ratio, that of day care I worked at,









framework provides an understanding of meaning-making systems and discourse networks in

specific situations through the description and interpretation of meaning making as well as the

critical analysis of ideology. From this perspective, I was concerned with how teachers'

discourses were constructed, reproduced, and controlled by the hierarchical organizations of

school systems. Also, I was interested in how the discourses that constituted the social

interactions between teachers and children in voluntary pre-kindergarten programs in child care

settings were enacted and confirmed through the forms of laws, rules, norms, or habits. This is

because I consider power that is exercised, reproduced, mediated, and resisted through

discourses in classrooms as the biggest threat to effective teacher-child interactions, as defined

from a critical perspective, in voluntary pre-kindergarten programs in child care settings.

I selected Gee's (2005) method of discourse analysis, which formulates hypotheses about

the data as well as moves from context to language and from language to context. Gee (2005)

says that these hypotheses need to be confirmed by further exploration of more data since much

of discourse analysis is about formulating and gaining some confidence in hypotheses which

should be further investigated, rather than gaining any sort of"definitive proof" (p. 13). Through

"information about a context in which a piece of language has been used," hypotheses about

"what that piece of language means and is doing" are created, and information about how the

context is interpreted by the people is produced (p. 14). From this perspective, I formulated two

contrasting hypotheses: one is that teachers as the oppressed are forced to teach children a white,

male, European-American model through diverse techniques of normalization, such as

measurement, regulation, and evaluation; the other is that teachers as the oppressors force

children to learn such a model through the unilateral interactions between themselves and

children. However, as Gee (2005) emphasizes, I am always open to further investigation of my









on your presentation," the teacher-child interactions are characterized as unilateral (Evans, 1991,

p. 263). This is because praise "conveys a lack of faith in human nature" and is based on the

belief that children can do something only "through external evaluations leading to reward and

punishment" (p. 261). As a result, the unilateral teacher-child interactions lead children to "lower

productivity" and "put teachers in power struggles with" children by forcing children to learn

obedience to authority and follow orders rather than thinking for themselves (p. 262).

A study by Leavitt and Power (1989) shows how this unilateral interaction between

teachers and children in child care settings influences children's daily experiences in classrooms.

For example, caregivers deny the legitimacy of children's emotions and often treat the children

as if they cannot "interpret and understand their own and others' emotions," and are "unfeeling

objects, unaware of or indifferent to the caregivers' negative assessments" (p. 37). Caregivers

ignore, deny, or reject children's deep emotions, and instead, they are concerned with children's

performances and children's appropriate behaviors in their everyday interactions. As a result,

children experience incongruence between their deep emotions and their surface emotions

because they are taught to "suppress, deny, and rework their deep emotions into incongruent

surface displays" rather than to appropriately express their feelings, especially negative feelings

like anger, frustration, boredom, and sadness (p. 39). This study demonstrates that unilateral

teacher authority over children prevents teachers from understanding children's emotions clearly,

interacting with children authentically, and developing the ability to see the children's

experiences from the children's viewpoints. Leavitt (1994) indicates that caregivers' routine

tasks, such as endlessly repeated diaper changing and feeding, make them feel the emotional

stresses of their work. This leads them to passively react to children's requests, lose interest in

children's needs, and become separated from children's feelings. This emotional alienation felt









APPENDIX B
INTERVIEW PROTOCOL

Interview Guide for the First Formal Interview

I want to talk to you about barriers to and facilitators of effective teacher-child

interactions in your classroom. We know that teacher-child interactions are important, but we

also know that effective teacher-child interactions do not happen very often due to a variety of

factors. I want to understand why and what can be done to improve teacher-child interactions.

I would like to ask you a few questions:

1. Could you describe a typical teacher-child interaction during whole-group time in
your classroom?

2. Could you describe a typical teacher-child interaction during free-play time in your
classroom?

3. Could you describe a typical teacher-child interaction during meal time in your
classroom?

4. How do you know if an interaction has been effective?

5. Tell me about an example of an interaction you have had with a child that you would
consider effective.

6. Tell me about an example of an interaction you have had with a child that you would
consider ineffective. Why do you consider it ineffective?

7. What are some barriers to effective teacher-child interactions?

8. What conditions help you have more effective interactions with children?

9. What do teachers need to know about teacher-child interactions?

10. Is there anything you would like to add? Do you have any further comments or
questions?

Interview Guide for the First Informal Interview

I would like to ask you about teacher-child interactions during whole-group time:

1. I noticed that you ..... (an example of teacher-child interactions). Was this a typical
kind of interaction for whole-group time?









As a result, this parent involvement in the homework is considered a useful way of

getting children to learn what teachers are saying. However, this parent involvement in the

homework makes parents spend much time helping children do their homework and talking

about it. In particular, since her pre-kindergarten classroom sends home the homework every

Friday, parents and children need to spend a lot of time doing the homework over the weekend.

This implies that parents and children focus their attention on the school curriculum as well as on

academic performance rather than social and emotional competence. As a result, this indicates

that they have little time to talk about family values including what is right and wrong and what

is most important in life, and the school authority controls family values. Also, she says,

"Usually we're pretty good with the curriculum we have, our parents just, (2.0) you know, they,

they're learning what we're teaching their kids that day, you know, it's approved." That is to say,

parents trust the school curriculum and accept whatever teachers teach their children rather than

asking questions about the school curriculum. As part of the school curriculum, the parent

involvement in homework is taken for granted by parents, and thus, parents rarely think about its

educational effects on their child and its advantages and disadvantages in terms of family values.

As a result, the school authority represented by the school curriculum is relevant to family values

in the situation when parents help children do their homework.

Building connections

In any situation things are connected or disconnected, relevant to or irrelevant to each other, in

certain ways.

6. What sorts of connections looking backward and/or forward are made within and
across utterances and large stretches of the interaction?

She considers children's positive reaction to what teachers are saying as effective

teacher-child interaction. For example, when a child actively answers a teacher's question or a









The Second Participant, Veronica

My main concern with Veronica's interview is to see how her way of teaching and

interacting with children is affected by the VPK program. This main concern comes from the fact

that Veronica is very confident in the VPK program and is expected to actively follow the

guidelines for the VPK program. Veronica emphasizes the positive effects of the VPK program

on children's school readiness, such as having children know alphabets or colors. Before the

VPK program started, many children were not prepared for kindergarten; for example, they did

not know how to write their names. However, the VPK program gets children ready for

kindergarten for a whole year, and thus, she is not worried that children in her classroom are not

prepared for kindergarten.

Despite the positive aspects of the VPK program, the time frame set by the VPK program

prevents her from effectively interacting with children. Veronica does not have enough time to

talk to children because she has to constantly plan and teach lessons within a three-hour schedule.

In other words, she has little time to listen to and react to each child's interests and needs, even

though she considers children's positive reaction to teachers' words as effective teacher-child

interaction. Also, the time frame set by the VPK program prevents her from finding a successful

way to deal with an unhappy conversation with a shy and quiet child, which is considered

ineffective teacher-child interaction in terms of her definition of effective teacher-child

interaction. This indicates that in reality, the VPK program is not helpful for her to effectively

interact with children, contrary to her trust in the program.

Veronica's narrative shows what makes her trust in the VPK program and why she is

satisfied with the VPK program. Through her actual words, her narrative also demonstrates how

the VPK program gives her a limited chance to effectively interact with children and how she

interacts with children within the time frame set by the VPK program. As a result, Veronica's









pre-kindergarten teachers include training in understanding, facilitating, and assessing children's

second-language acquisition, and there are few qualified teachers who speak the different

languages used by children from many different cultures. This indicates that pre-kindergarten

teachers have difficulty in effectively addressing children's diverse cultural and linguistic needs

with a wide range of experiences and skills as well as in being competent or sensitive to

multilingual/multicultural issues.

Teacher-Child Interactions in Child Care Settings

The topic of teacher-child interactions in child care settings has only recently been

focused on by researchers; that is, researchers have begun to carefully observe and analyze daily

teacher-child interactions within the last 20 years. Recent research on teacher-child interactions

has characterized the significant role of teacher-child interactions in children's early learning and

development as the crux of child care quality. For example, a study by Kontos, Howes, Shinn,

and Galinsky (1995) demonstrates that both parents and teachers consider a warm, caring,

responsive interaction between teachers and children, a safe environment, and good

communication between parents and teachers as the crux of child care quality. In particular,

teachers and parents say that a warm and caring interaction between teachers and children is

"high on most peoples' list of what they hope for in child care" (Kontos et al., 1995, p. 65). This

is because the interaction provides children with a powerful context for early learning and

development by enabling the children to learn about "self, others, the physical environment, and

the cultural contexts within which these occur" and to develop the strategies, propensities, and

perceptions of those issues (McCollum & Bair, 1994, p. 88).

As for the importance of teacher-child interactions in child care settings, many studies

show that the quantity and quality of teacher-child interactions affect children's social and

emotional competence as well as the characteristics of classroom environments (Churchill, 2003;









APPENDIX

A LETTER OF INVITATION AND CONSENT FORM FOR A TEACHER....................... 191

B IN TE R V IE W PR O T O C O L ................................................................................................. 193

Interview Guide for the First Formal Interview................................ ....................... 193
Interview Guide for the First Inform al Interview ...................................... ................... 193
Interview Guide for the Second Informal Interview......................................................... 194
Interview Guide for the Third Informal Interview....................... ..... ............. 194
Interview Guide for the Second Form al Interview .................................... .................... 194

REFERENCES ...................................................................... ........ 196

B IO G R A P H IC A L SK E T C H ...................................................................................................... 2 11







































7









I think the teacher should know that you just can't come in here, just tell the kids what to
do and be done with it, you have to be able to talk to kids, you have to be able to get down
on their level and talk with them.

I know you know, let's just listen for me instead of just (1.0) yelling 'em out. You're a
smart boy, you know all of these words.

Fourth, the word "know" is to have information about something. The situation when

teachers and children do not "know" something means that they have no information about

something.

I don't know exactly how long, I know it's been more than ten years, it's probably, it
probably could have been around for twenty years.

You got eczema? Do you have eczema? Do you know what that is?

Building activities

Some activity or set of activities is a component of any situation (the specific social activity or

activities in which the participants are engaging; activities are, in turn, made up of a sequence of

actions).

2. What is the larger or main activity (or set of activities) going on in the situation?

The main activity is to get children ready for kindergarten, and it consists of several sub-

activities. A major sub-activity is to give children an opportunity to develop reading and writing

skills. This sub-activity is made up of several different actions, including having children do a

spelling test, teaching children a different letter each week, reading children a book on the theme

of the week, and helping children build a lot of words. In the case of a spelling test, children in

her pre-kindergarten classroom have the test once or twice a month. Teachers first send home the

words that they choose, for example, "HAVE," "AM," "DID," "A," and "ONCE." Then teachers

allow children to practice the words at home for at least two whole weeks as well as to go over

the words in class. Before taking a spelling test, teachers give children a chance to review the

words. Children sit at their seats and take the test, and immediately after taking the test, they









hypotheses and to finding evidence against my preferred views, since I as the primary instrument

for data collection am likely to filter data through my theoretical point of view.

According to Gee's (2005) method of discourse analysis, I read interview and

observation data, which were audio tape recorded and transcribed, and underlined "the word or

phrase with the most stress" and "the new and most salient information" (Gee, 2005, p. 125).

And then I organized the data into a number of stanzas, which mean "sets of lines devoted to a

single topic, event, image, perspective, or theme" (Gee, 2005, p. 127). In order to analyze the

data at a macro level, I read the stanzas and made sub-sub-stories, sub-stories, and frames within

stories, in that order. When making the stories, I used idealized lines, by removing many

different sorts of "speech hesitations and dysfluencies" from the actual lines (Gee, 2005, p. 129).

This is because idealized lines are useful for "discovering meaningful patterns in people's

speech" and "getting at their basic themes and how they are organized" (Gee, 2005, p. 129).

Finally, I completed seven building tasks: Significance, Activities, Identities, Relationships,

Politics (the distribution of social goods), Connections, and Sign systems and knowledge. When

creating building tasks, I sometimes used hesitations, pauses, dysfluencies, and non-clause lines.

This is because these factors include important information about the discourses, such as "how

planning is going on in the speaker's head" (Gee, 2005, p. 129).

The seven building tasks mean seven areas of "reality," and result from the notion that we

always and simultaneously build the seven areas of "reality" whenever we speak or write (Gee,

2005, p. 11). That is to say, we continually and actively construct and reconstruct our worlds

through language used in interactions, nonverbal systems, technologies, and particular ways of

"thinking, valuing, feeling, and believing" (p. 10). For example, we engage in a certain kind of

activity and recognize our engagement through a piece of language used in the activity. By









Coplan & Prakash, 2003; Howes, 2000; Howes, Hamilton, & Matheson, 1994). This is because

children are able to learn how to interact with other adults and peers through the ways they

interact with teachers, and classroom settings are influenced by the nature and form of specific

practices related to the qualities of teacher-child interactions, such as how sensitively teachers

interact with children and how efficiently teachers encourage children to engage in learning

behaviors (La Paro, Pianta, & Stuhlman, 2004). According to Howes et al. (1994), teacher-child

interactions include different aspects, such as emotional security, dependency, and socialization,

because teachers play very different roles in children's classroom experiences, such as

playmates, teachers, managers, and caregivers. Therefore, children interact with teachers in

different places in different ways, and the types of teacher-child interactions are different and are

influenced by different factors, including children's behaviors and characteristics, gender, or

teachers' perceptions of children's characteristics. In the case of Howes' five-year longitudinal

study (2000), teachers generally believe that the second-grade children who show less aggressive

and disruptive behaviors with peers tend to keep closer teacher-child interactions, and children

who have high behavioral problems and low teacher-child closeness in preschool classrooms are

more likely to show high aggressive behaviors with peers and low teacher-child closeness as

second graders. A study by Blankemeyer, Flannery, and Vazsonyi (2002) also demonstrates that

children who highly value the teacher-child interactions are less likely to behave aggressively

and more likely to show their social competence.

Especially in child care settings, positive teacher-child interactions encourage children to

participate in different cooperative activities in classrooms as well as to actively accomplish their

learning at school (Webster-Stratton, 1999). By and large, children in child care settings keep

different patterns of interactions with different teachers (Howes & Ritchie, 2002). That is to say,









58. and that if you didn't know very many

59. we would write that down, well, needs to work on letters

60. and we would work with you more on letter recognition.

61. It is really quite complicated (ha, ha) the standards for kindergarten.

Stanza 13: Teachers have gotten children ready for kindergarten even before the VPK

62. We just started VPK programs last year

63. and that's when we got the official standards.

64. But we had basically been doing most of those things before,

65. just getting them ready for kindergarten,

66. teaching them about the world,

Stanza 14: VPK program includes very specific information

67. but this is very specific,

68. it has, specific things that you can do,

69. to help them, be ready for their world.

Sub-story 2: Teachers' understanding of each child's progress through paperwork

Sub-sub-story 3: Teachers fill out paperwork to identify what each child needs to know

Stanza 15: Teachers need to fill out more paperwork

70. A little bit, it's probably we have more paperwork, because the work,

71. we're filling out the forms for each child.

72. We're doing assessment on them throughout the year.

73. We have to keep the portfolio to make sure.

74. We have samples for their work,

Stanza 16: More paperwork aims to check what children need to know









D ata A analysis M ethod.................... ........................................... .. .. ............ .. .............. 74
T ru stw north in ess ..................................................................... 7 7
Lim stations of the Study.................... .................... ...................... .. .......... .. .......... ... 78

4 PRESENTATION AND ANALYSIS OF DATA ............ ........................................... 82

T h e F irst P articip ant, Su san ................................................................................................... 82
Susan's Narrative ..................................................................... ......... 83
Seven Building Tasks ......... ...................... .... .............. .... ......... 95
B building significance .............................................. .. .. .. .. .......... .. 95
Building activities....................... ........ 97
B building identities................................... .............. 98
B building relationships ................... ............ ......... ............. .... 100
Building politics (the distribution of social goods) ......................................... 101
Building connections .................................... ......... .. .... .. .. .. .......... .. 102
Building significance for sign systems and knowledge................................. 104
The Second Participant, Veronica.......................................... 109
V veronica' s N arrative ........................................................... .. .......... 110
Seven Building Tasks ......... ................... ... .. .. ....... .......... 121
B building significance .............................................. ... .... .. .......... .. 121
B u ild in g a ctiv itie s ............................................ ... ................ ...... ................. 12 3
B u ild in g id en titie s........................................................................ ...... ....... 12 5
B building relationships ................... ............ ......... ............. .... 127
Building politics (the distribution of social goods) ......................................... 129
B building connections ................................... .............. ...... .. .......... .. 130
Building significance for sign systems and knowledge................................. 132
T he T third P participant, C indy ...................................... ................................................... 136
C in dy 's N arrativ e ..................................................................... 13 8
Seven Building Tasks ......... ................... ... .. .. ....... .......... 148
Building significance ..................................... ........ .... .... .. .......... .. 148
B building activities ........................................................................ ....... ............ 151
Building identities ........................................... 153
Building relationships ........................ ........... 156
Building politics (the distribution of social goods) ......................................... 157
Building connections .................................... ......... .. .... .. .. .. .......... .. 159
Building significance for sign systems and knowledge................................. 160

5 DISCUSSION AND CONCLUSIONS ................................... 165

Sum m ary of Findings ........................................................ ............ ........ ..... 165
D discussion of Findings .................................. .. ............ .......... .............. 171
Barriers to Effective Teacher-Child Interactions ............. ....................... .............. 171
Facilitators of Effective Teacher-Child Interactions ........................................ ...... 174
S u m m a ry ............... ..................................................................................... 1 7 7
C connections w ith Previous R research ............................................................................ ... 178
Im plications for Professional Practice ........................................... .......................... 183
Recom m endations for Further Research..................................... ......................... .. ....... 186


6









school over one year, she has already observed the majority of her children and learned their

characteristics. As for the reason that teachers are able to easily figure out each child's

characteristics, she says, "You can tell them by just watching 'em. You just watch 'em and

observe for even just a few hours, you kind of get an idea of how they're gonna be (5.0), they

don't hide anything like adults do (ha, ha), it's all out there." That is to say, teachers are able to

understand what children are thinking and feeling through their verbal and nonverbal language

because children express their thoughts and feelings very frankly. Thus, she is able to understand

well what the reactions of her children, including children who speak English as a second

language, mean. In terms of her definition of effective teacher-child interaction children's

positive reaction to what teachers are saying, she is able to effectively interact with every single

child in her classroom. As a result, in the situation when she interacts with children who speak

English as a second language in her pre-kindergarten classroom, English and all the other

languages are irrelevant.









me. I think, I think, that's, that's one of the effective ways. Especially, if they want to talk about

it, they raise their hands, you know, and so they are ready to hear what we have to say too." The

situation when a teacher calls on one child in order to give the child a chance to answer the

question that the teacher and the child have already talked about and then the child answers the

question is considered one-on-one interaction. For example, during whole-group time, she asks,

"Who can tell me the name of our poem we have this week? Raise your hand if you can tell me

the name of our poem." Then she picks one child among several children who raise their hands,

and the child answers the question. Similar to the situation when she asks a child what the child

is doing and then the child answers the question during free-play time, this situation is

considered one-on-one interaction because one teacher and one child talk about the same issue.

By giving one child a chance to answer the question that the teacher and the child have already

talked about, teachers are able to check whether the child understands and remembers what

teachers are saying. By answering the question, the child is able to expand his or her thoughts

and receive new ideas from teachers. Thus, one-on-one interaction is considered one of the ways

of knowing.

9. What languages in the sense of "national" languages like English, Russian, or Hausa,
are relevant (or irrelevant) in the situation?

English and Korean are relevant in the situation when teachers have difficulty in making

one Korean boy who does not speak English well understand what teachers are saying. She says,

"We have some children from all around the world. Sometimes they are still learning English

and now I try to talk to them, and sometimes they just don't, because they don't know English

very well, they don't understand what I'm saying. Like today, um, (2.0) one little boy came up,

uh, I think he's from Korea and, uh, he just comes up and says 'Car.' And I ask him, 'What do

you want to do with the car?' He wanted to get the cars out to play with them, but he just can't









However, the findings of this study demonstrate that the conversations between teachers and

children in the VPK program mostly aim to have children build a good vocabulary in order for

children to succeed in kindergarten. Thus, my interpretation of the findings of this study is

different from the results of a study by Gest et al. (2006), since it clarifies the purpose of teacher

talk by using the theoretical orientation of critical theory and postmodernism.

Fourth, a study by Hayes and Matusov (2005) helps me interpret the three teachers'

understanding of effective teacher-child interaction as a barrier to effective teacher-child

interactions, as defined from a critical perspective, in voluntary pre-kindergarten programs in

child care settings. The study, based on real-life conversations in a traditional school, shows that

when a child does not produce the expected answer, the teacher usually rejects the child's answer

as incorrect in order to elicit the correct answer she already knows. The teacher is concerned

with affirming the truth she already possesses, and thus, children have no opportunity to develop

their understanding of the world by reflecting on their answers and acting on their own

perspectives. Similarly, the three teachers in this study consider children's positive reaction to

teachers' words as effective teacher-child interaction; that is, they need children to understand

what they are saying and follow the directions. Thus, the three teachers' understanding of

effective teacher-child interaction makes children learn obedience to authority and follow orders

rather than thinking for themselves; these children have no opportunity to develop their own

critical-thinking and problem-solving skills. This interpretation of the three teachers'

understanding of effective teacher-child interaction is derived from the findings of Hayes and

Matusov's (2005) study, but goes beyond these findings by including from the conversations to

the interactions between teachers and children.









Kristen M. Kemple, Ph.D.,
School of Teaching & Learning,
Room 2207 Norman Hall, University of Florida, Gainesville, FL 32611,
(352) 392-9191 extension 250,
kkemple@coe.ufl.edu

Whom to contact about your rights as a research participant in the study:
UFIRB Office, Box 112250, University of Florida, Gainesville, FL 32611-2250; ph 392-0433

Agreement: I have read the procedure described above. I voluntarily agree to participate in the
procedure and I have received a copy of this description.


Participant's Signature and Date:




Principal Investigator's Signature and Date:









analysis. The interviews were conducted in the teachers' workplaces, and the observations

focused on the teachers' behavior and speech in their classrooms during whole-group, free-play,

and meal time. According to the steps of discourse analysis, the interview data were organized

into "stanzas," several story lines were made, and then a number of building tasks were

established. The results of data analysis demonstrate that the unique characteristics of the VPK

program impede the three teachers' most effective interactions with children, even though they

are aware of the importance of their one-on-one interactions with children. The findings of the

study show several barriers to and facilitators of effective teacher-child interactions, as defined

from a critical perspective, in voluntary pre-kindergarten programs in child care settings.

This study includes a number of strategies to enhance the internal validity, reliability,

generalizability, and trustworthiness of the study, including "member checks." In particular, my

subjectivity statement shows why I am interested in this qualitative research project as well as

why I believe that this study is important. By clarifying my assumptions and worldview based on

my personal experiences, this subjectivity statement contributes to increasing the internal validity

of this study. However, this study demonstrates several limitations resulting from the fact that the

data were collected over a short period of time. Some recommendations for further research are

suggested in order to address these limitations as well as to lead further research to focus on

improving educational practice. As a first attempt to investigate the nature of teacher-child

interactions in voluntary pre-kindergarten programs in child care settings by using the theoretical

orientation of critical theory and postmodernism, this qualitative research project offers some

helpful suggestions to interested practitioners, including teachers, policy makers, and researchers.









question is based on the notion that teachers as the oppressors force children to learn the

dominant culture and ideology via the interactions between themselves and children, and

teachers as the oppressed are forced to contribute to maintaining the social inequalities within the

hierarchical structure of schools.

Subjectivity Statement

I was born and grew up in the Korean society, which was extremely homogeneous in

terms of ethnicity, culture, and history, and was apt to be easily dominated by the ideology of the

mainstream society. Its homogeneity makes people follow dominant rules or viewpoints rather

than pursuing their own opinions or life styles, since people are afraid of being isolated from the

majority group by disobeying the norms of the dominant group. For example, I have been taught

to respect and not disobey seniors, including teachers, parents, and administrators. Especially

when I was a student in Korea, I could not imagine the possibility that teachers' instruction was

wrong or that I could ask a teacher something before being called on by the teacher.

Furthermore, my parents absolutely supported teachers' instruction as well as school directions

and made their children follow these directions without any exceptions. For instance, my parents

bought me whichever books teachers recommended and always let me participate in inside as

well as outside classroom activities. As a result, I totally trusted teachers' one-sided perspectives

and one-way instruction in classrooms and learned conformity and passiveness rather than

critical thinking skills.

Contrary to my strong beliefs about teachers and schooling, I was sometimes

disappointed that teachers frequently expressed their complaints about the teaching profession in

classrooms. In particular, teachers complained that their salaries were lower than those of other

jobs and that they suffered from a lot of miscellaneous duties. I heard these kinds of complaints

more frequently when I attended the private high school than when I attended the public middle









20. but we are responsible for deciding what to do.

21. For instance, if our theme is recycling or, saving the earth,

22. then we teachers that are here now would kind of decide

23. what we're going to do, with that theme.

24. We have some suggestions

25. but, we are also looking for books that we have,

Stanza 6: Teachers think about the necessary skills for kindergarten

26. and we think about what these children need to know

27. to go to kindergarten,

28. how we can incorporate those skills also.

29. What we do, everything that we have,

30. we, we relate that using the standards

31. that they need to have for kindergarten.

Stanza 7: What to do with a theme is related to the necessary skills for kindergarten

32. For instance, we might have them, drawing things about the earth,

33. or painting a river, painting a clean river,

34. and talking about what that would have in it,

35. a live animal and fish and, things like that so.

36. Everything that we do goes with that theme,

37. but it would also build on their skills

38. and their needs for VPK.

Sub-sub-story 2: VPK program provides teachers with much specific information

Stanza 8: VPK program provides a lot of helpful information









go with 'car.' And then I just said, 'You want me to get the cars out?' 'Yes,' and then I said,

'You need to say that.' And he just, he would say that, you know. I try to get him to say, 'Please

get the cars out.' But I think he, he felt intimidated because his verbal skills in English are not

very good yet. So I felt that I wasn't very effective." That is to say, the language barrier prevents

the Korean boy from communicating with teachers and from understanding what teachers are

saying, and thus, she defines this situation as ineffective teacher-child interaction. Also, she says

that teachers try to talk to the Korean boy more and get him to talk more to them using full

sentences because teachers are worried that he is going to have a lot of trouble in kindergarten.

However, she does not consider the language barrier as one of the barriers to effective

teacher-child interactions. This is because she believes that young children are able to pick up

English quickly because their brain is ready to learn language and sees that young children are

usually able to speak English fluently in about six months. In other words, the language barrier

can be easily overcome in her classroom through children's progress towards English, and

children are able to understand what teachers are saying after a while. Nevertheless, the situation

when the Korean boy does not understand what teachers are saying is considered ineffective

because she defines a child's misunderstanding of what teachers are saying as ineffective

teacher-child interaction. Thus, she wants the Korean boy to pick up English as soon as possible

by expressing her dissatisfaction with his speed of learning English, for example, "I think he

speaks Korean at home, they, the parents don't know English very well. So that makes it harder

for him, but he'll get it (ha, ha)." As a result, according to her definition of effective teacher-

child interaction, English and Korean are relevant in the situation when teachers do not

effectively interact with one Korean boy because of his misunderstanding of what teachers are

saying.









child care centers, I finally selected three teachers that met the above criteria and invited them to

an audio tape recording via a letter of invitation and consent form.

As I expected from the perspective of a criterion sampling strategy, the three teachers

provided me with a wealth of information about barriers to and facilitators of effective teacher-

child interactions, as defined from a critical perspective, as well as several systematic or

programmatic factors that impeded effective teacher-child interactions in voluntary pre-

kindergarten programs in child care settings. In particular, since the teachers had many

experiences of teaching children in different classroom settings other than VPK classrooms, they

were able to compare the characteristics of the VPK program with those of other preschool

programs. This indicates that their judgment about the VPK program is based on objective or

unbiased facts resulting from their different experiences and thus is useful for interested

practitioners to act for program or system improvements in voluntary pre-kindergarten programs

in child care settings.

Description of Participants and Context

The first participant, Susan, has been working with children for thirty-four years and has

been teaching children at her current workplace for twelve years. From her experiences, she is

very well aware of the different characteristics of a whole range of children's ages as well as

how to teach each child according to his or her unique personality. In particular, since most of

the children in her pre-kindergarten classroom have attended the school over one year, she and

most of them had already known each other by the time they started the class. She very well

understands what kind of curriculum is good for children and how to manage classrooms because

she had had her own child care center for six years. She has a bachelor's degree in music

education and uses music as an effective teaching tool, since she believes that singing a song

enables teachers to reinforce what they are talking about and to help children remember the









through the storylines of their culture (Davies, 1993). Therefore, the interactions between

teachers and children are characterized as social relations in which the relations between power

and knowledge are continually exercised, produced, and articulated with "submissive subjects"

and "a dependable body of knowledge" (Foucault, 1975/1995, p. 295). This postmodernist

perspective on the interactions between teachers and children indicates that the interactions are

not "an actively negotiated set of social relations," which enables children as co-constructers of

knowledge, identity, and culture to participate in socially constructing and determining their own

lives (Dahlberg et al., 1999, p. 49). Thus, the postmodernist perspective provides teachers with

an opportunity to think about their own understanding of the discourses between themselves and

children, as well as helps children to aggressively solve their own problems as active subjects by

giving them a chance to construct and articulate their own knowledge.

Rationale of Pre-Kindergarten Programs

Pre-kindergarten programs aim to ensure that all pre-kindergarten-aged children, usually

3- and 4-year olds, have access to early learning for school success or school readiness. That is to

say, pre-kindergarten programs enable children to experience school readiness skills, including

physical well-being and motor development, social and emotional development, cognition and

general knowledge, approaches toward learning, and language and communication. Thus, pre-

kindergarten programs aim at helping all children get ready for formal schooling by providing

social systems that affect children's development and readiness for school, such as the health

care system, education system, or child care system. In particular, pre-kindergarten programs

pursue improving the school readiness of at-risk children by providing them with enriching

learning experiences. This is related to the fact that children from chronically poor families are

more seriously and consistently disadvantaged than those in transitory poverty and have the

lowest scores on tests of language and school-readiness skills (NICHD Early Child Care









teachers get children to line up, to walk fast, and to be quiet. In the cafeteria, teachers allow

children only to eat their lunch rather than talking to each other or teachers because they have

only thirty minutes for lunch. After eating lunch, teachers have children throw trash away, move

their chairs to the corner of the cafeteria, and pile them up. They come back to their classroom,

and children take a nap immediately. As a result, the VPK classroom has its own structured

schedule and makes both teachers and children busy keeping the schedule. By having children

experience the structured schedule, teachers get children to be accustomed to a kindergarten

lifestyle and prepare children for kindergarten.

Building identities

Any situation involves identities as a component, the identities that the people involved in the

situation are enacting and recognizing as consequential.

3. What identities (roles, positions), with their concomitant personal, social, and cultural
knowledge and beliefs (cognition), feelings (affect), and values, seem to be relevant
to, taken for granted in, or under construction in the situation?

According to the interview data, she has different identities based on her belief that

teachers should help children to develop the necessary skills for kindergarten as well as to

succeed in school by providing enriching environments that maximize children's learning. First

of all, she is very proud of the school curriculum because she believes that the school curriculum

enables children in her pre-kindergarten classroom to be well prepared for kindergarten. She is

confident in the school curriculum more than in the guidelines for the VPK program. As for the

school curriculum, she says, "I mean VPK says like kids should have these standards, you know,

A, B, C, and D, and I do A, B, C, and D, but I go all the way to G per se." That is to say, the

school curriculum includes more learning materials and more necessary skills for kindergarten

than the guidelines for the VPK program do and needs children to do a lot of worksheets. Thus,

she believes that the school curriculum enables teachers to get children ready for kindergarten









asking the question of how this piece of language is used in the activity or what we are using this

piece of language to do here, discourse analysis is able to investigate the reality that we are

actively building through language in the activity. In summary, studying language enables

discourse analysis to reflect "reality" by exploring different identities and activities enacted

through language as well as people's different access to different identities and activities linked

to different kinds of status and social goods.

Trustworthiness

Data collection and data analysis in qualitative research are likely to present ethical

dilemmas. In the case of interviewing as a standard data collection technique in a qualitative

study, participants face both risks and benefits, and the risks are likely to raise ethical problems.

For example, participants may "feel that their privacy has been invaded," may be uncomfortable

about certain questions, or may tell things they have never intended to make known (Merriam,

1998, p. 214). However, participants may have positive feelings when they are asked to review

their achievements or are encouraged to act positively in their own behalf. Also, participants may

enjoy sharing their thoughts, beliefs, or experiences, and may acquire very helpful self-

knowledge. Observation as a second method of collecting data in a qualitative study has its own

ethical pitfalls according to the researcher's participation in the activity. For example,

participants who are accustomed to the researcher's presence may engage in an activity they will

later feel embarrassed about or give information they have not intended to reveal. In addition,

data analysis may present ethical dilemmas since the researcher as the primary instrument for

data collection has filtered data through his or her particular theoretical orientation and biases.

In order to avoid these kinds of ethical problems, I first helped participants understand

the meaning of informed consent. This is because participants have the "right to freely choose

whether to participate in a research project or not" with a reasonable understanding of both risks









qualifications are very different according to where the classroom happens to be located.

Teachers are able to reflect on their own ways of interacting with children in their state-funded

pre-kindergarten classrooms as well as the effects of state-funded pre-kindergarten programs on

their interactions with children. Thus, by figuring out the nature and quality of their own

interactions with children, teachers in state-funded pre-kindergarten programs are able to find

ways to effectively interact with children.

In particular, the findings of this study are helpful for all teachers to be aware of the

importance of the effective teacher-child interactions that empower both teachers and children.

The findings of this study clarify three barriers to effective teacher-child interactions, as defined

from a critical perspective, in voluntary pre-kindergarten programs in child care settings by

showing the causes and problems of the unilateral teacher-child interactions as well as the effects

of the barriers on both teachers' and children's critical-thinking and problem-solving skills. Also,

the findings of this study specifically suggest three facilitators of effective teacher-child

interactions by explaining what the rationale of the facilitators results from and how teachers can

promote effective teacher-child interactions in a real situation. The barriers to and facilitators of

effective teacher-child interactions are applied to voluntary pre-kindergarten programs in child

care settings. Nevertheless, teachers in every classroom are able to use such information about

the barriers and facilitators, since most of the conversations between teachers and children in

classrooms are characterized as unilateral and reflect teacher authority over children. Such

information gives teachers a chance to be aware of the unilateral teacher-child interactions and to

overcome the notion that they are incapable of changing the status quo. Therefore, by searching

for specific strategies to develop effective teacher-child interactions within their own unique









teachers and children to express their multiple perspectives, engage in more complex discourses,

and create more critical thoughts, and finally contribute to the empowerment of teachers and

children by enabling them to actively participate in "the search for and acquisition of knowledge

and subsequent action to change the status quo" through teacher-child interactions (Merriam,

2002, p. 10). Thus, this qualitative research project will display barriers to and facilitators of

effective teacher-child interactions, as defined from a critical perspective, in voluntary pre-

kindergarten programs in child care settings, and stimulate future research to provide more

concrete, specific methods for teachers to overcome the unilateral teacher-child interactions in

voluntary pre-kindergarten programs in child care settings.









are closely associated with children's learning and development and play an important role in

predicting how sensitively the environment stimulates children to learn. As a result, teachers

differently talk to children according to classroom activity settings, even though they generally

use a certain familiar style of speech modes and language patterns.

Unilateral Interactions between Teachers and Children

From the theoretical orientation of critical theory and postmodernism, teacher-child

interactions in child care settings demonstrate unilateral characteristics resulting from teacher

authority over children, and the unilateral teacher-child interactions in child care settings

negatively influence children's developmental outcomes. In a study of real-life conversations in

a traditional school, Hayes and Matusov (2005) observe that when a child does not produce the

expected answer, the teacher usually rejects the child's answer as incorrect in order to elicit the

correct answer she already knows. That is to say, the teacher is concerned with affirming the

truth she already possesses rather than accepting others' truth that does not fit her truth. This

does not apparently contribute to children's better understanding of the world because they have

no opportunity to reflect on their answers and act on their own perspectives. Similarly, a study by

Gale and Cosgrove (2004) shows that a child is devalued and disempowered because his words

like "Dunno," "Gotta," and "Yeah" are continually corrected by the teacher (p. 129). The words

are "wrong" according to the teacher's knowledge and school norms, and thus, the teacher's

power forces the child to say the "right" words that the teacher already knows, but the child does

not know. A study by Girolametto, Weitzman, van Lieshout, and Duff (2000) shows that

teachers commonly dominate the conversation by using frequent verbal turns during a group

activity in child care settings, and this prevents children from speaking frequently, saying

different words, and using multiword combinations. Even when teachers praise children in the

form of a reward, such as "You did a great job," "You're the best student," and "You did terrific









spelling test, children are tested to see if they practice or remember the lesson well, even though

they are taught in pre-kindergarten classrooms in child care settings. Such a practice prevents

children from seeking a better understanding of different aspects of the lesson because they are

too busy to think about things other than what teachers expect. Children are forced to think and

behave within teachers' values and ideologies, which result from their own past experiences and

reflect particular ideological patterns like the guidelines for the VPK program. Since the VPK

program especially requires teachers to make children understand what they need to know to go

to kindergarten, both teachers and children are forced to think and behave according to the

guidelines for the VPK program. Thus, the teachers' understanding of effective teacher-child

interaction prevents both teachers and children from enhancing new ideas and remaining open to

the unforeseen and unexpected and thus from critically thinking and independently solving their

own problems.

Second, the teachers' powerlessness to modify their teaching environments is considered

another barrier to effective teacher-child interactions, as defined from a critical perspective, in

voluntary pre-kindergarten programs in child care settings. Teachers are suffering from the time

frame of the VPK program as well as the teacher-child ratio and class size set by the VPK

standards. These factors directly influence their ways of teaching or interacting with children; for

example, teachers cannot have sufficient one-on-one time with children, and teachers have to

constantly teach children and do paperwork. Since teachers are always rushed to do so much

work within a restricted time frame, they speak fast, especially during whole-group time, and

cannot feel relaxed. The teachers' uncomfortable status is likely to lead teachers to passively

respond to children's requests and lose interest in children's needs. During whole-group time,

teachers transmit a wealth of knowledge to children through daily routine by continually having









construct and articulate their own knowledge as well as to aggressively solve their own problems

as active subjects.

Summary

The findings of this study support two contrasting hypotheses: one is that teachers as the

oppressed are forced to teach children a white, male, European-American model through diverse

techniques of normalization, such as measurement, regulation, and evaluation; the other is that

teachers as the oppressors force children to learn such a model through the unilateral interactions

between themselves and children. Both the teachers' powerlessness to modify their teaching

environments and the teachers' lack of confidence in what is right and what is good, which are

considered barriers to effective teacher-child interactions, as defined from a critical perspective,

in voluntary pre-kindergarten programs in child care settings, show that teachers as the oppressed

are forced to teach children the norms and standards set by dominant academics and institutions

within the hierarchical structure of schools. Even though teachers attach a lot of importance to

one-on-one interaction with children, they are forced to teach children these norms and standards

through measurement or assessment. In particular, since the VPK program requires teachers to

show the school's accountability, teachers are forced to teach children the necessary skills for

kindergarten and to make sure that children are prepared for kindergarten. Thus, teachers as the

oppressors force children to learn what they need to know to go to kindergarten and consider the

situation when children understand teachers' words and perform what is expected of them as

effective teacher-child interaction. This definition of effective teacher-child interaction

demonstrates unilateral characteristics resulting from teacher authority over children and is

considered another barrier to effective teacher-child interactions, as defined from a critical

perspective, in voluntary pre-kindergarten programs in child care settings.




Full Text

PAGE 1

nnrnrnrrnr r nrnnrnnrn nr nn rn nnrr rnnnnrnnr nr n rnnn

PAGE 2

!"#$ %&

PAGE 3

' r(r n)* + ,-$%"#-)&."/ )/0 *$)$.+ "1)!,.# 2& -)1)&/0 &2)1),.)+ ,-$ .,342 / 3--$."53#)-)&3!/ ,+%3),1)&&%-& &6 ,34n .& 7-, & 0 #,.8!0-)&3!/ ,+%3),1)&&%-1$.%,9,4,%3" &/0 98), $ "1)!,.# & "-."2 #!%2."1 %" + ,/% 1 )8&2%33 ,-.-%)"43.& "-),."2.2+%3),93$ $.3 /,)+%2 2& *%-$ &."%2 .3."2)//),-!"%-% 3-$.-$.+ -,!0$ 0/ 2-)#!%2 &/,)8 33%)".01 ., ,8),8)!, .,34)&)-$ ,)!-3-."2%"#3!/ ,+%3),1)&&%-& &6 ,39,4$,%3-% .+.".!#$9,4 0%:.6 -$)"29."2,4.: 0;)" 39n*%3$-) 7/, 33&#,.-%-!2 8),-$ %,%&& "3 /,.1-%1.0 $ 0/."21)&& "-3.6)!-&2%33 ,-.-%)"4$ %,1)&& "-3$ 0/ 2& 6,.%"3-),& + ,3/)8 -$ *.8,)&-$ 8%,3-3-.# )8&2%33 ,-.-%)"/,)/)3.0!"-%0-$ 8% ".02%33 ,-.-%)"2 8 "3 403)9 n*)!020%5 -) 7/, 33&-$."53-),400 ",."-0%"# ,9,4$%0.,3/ 15 "9."2,4%,5. ),)*),5/0.1 39*$)%"-,)2!1 2-$ -$, .1$ ,3-)& ."2#.+ & / &%33%)"-) 1)"2!1--$%33-!24

PAGE 4

? n-$."5&8.&%08), "1)!,.#%"#& -)/!,3! &.1.2 &%1#).034n #%+ -$."53 + 2.-)&&)-$ ,."28.-$ ,9*$)%"3-%00 2.0)+ )80 .,"%"#."2.3 "3 )83 081 )"8%2 "1 %" & 4$."53.03)-)&3%3,96,)-$ ,396,)-$ ,%"0.*9."23%3,%"0 .*4$ %, "2!,%"#0)+ 9 3!//),-9."2.11 /-."1 )8*$.-n.&2)%"#$.+ .0*.3/,)+%2 2& *%-$$ %"3/%,.-%)"8),& 3-!2."22%33 ,-.-%)"4n".22%-%)"9n)* .2 6-)8-$."53-)&" -*),5)88,% "23."2" %#$6),39*$)$.+ 0%3" 2-)&*),239&.2 ." 88),--)1$ ,& !/9."2#%+ "& 0 )-3)8 $ 0/8!03!## 3-%)"38),-$ 1)&/0 -%)")8&2%33 ,-.-%)"4%".009n2 2%1.&2% 33 ,-.-%)"-) &3$%"%"#"% 1 ."2" /$ *3;!"#%"."9;!"#())5."9."2!"#;. %&4$ %,$.//3&%0%"#8.1 3 ".60 2& -))+ ,1)& 3 + ,.02%88%1!0-% 3."2*), ,% 3n1)"8,)"2*$%0 n *.3*,%-%"#&2%33 ,-.-%)"4(.-1$%"#-$ &#,)*9n, .0%: .* .0-$)8 3/)"3%6%0%--)$ 0/ )!"#1$%02, "# -.#, .-8!-!, .$ .2)8-$ &4

PAGE 5

@ rr /.# r(r444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' n44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A nrnr44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 0),%2.>3)0!"-.,, %"2 ,#.,"BC,)#,.&444444444444444444444444444444444444444444444444444444444 %&%-.-%)"3)80),%2.>3)0!"-.,, %"2 ,#.,"BC,)#,.& 444444444444444444444444444444444D 8%"%-%)"3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A $ ,)60 &444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 n&/),-."1 )8-$ -!2444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !,/)3 )8-$ -!244444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !%2%"# 3 .,1$! 3-%)"444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !6< 1-%+%--.& "-44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' n(n4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444D ,%-%1.0$ ),44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444D )3-&)2 ,"%3&44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 .-%)".0 )8, %"2 ,#.,",)#,.&34444444444444444444444444444444444444444444444444444444444444444444444444444444' 88 1-%+ 33)8-.!"2 2, %"2 ,#.,",)#,.&344444444444444444444444444444444444444444444444444'? %&%-.-%)"3)8-.!"2 2, %"2 ,#.,",)#,.&344444444444444444444444444444444444444444444444444444'D .1$ ,$%02n",.1-%)"3%"$%02., --%"#34444444444444444444444444444444444444444444444444444444444444444? r.-!, )8 .1$ ,$%02n",.1-%)"3444444444444444444444444444444444444444444444444444444444444444444444444444444444444?? "%0.,.0n",.1-%)"36 -* .1$ ,3."2$%02, "44444444444444444444444444444444444444444444444444444444? .!3 3)8-$ "%0.,.0n",.1-%)"36 -* .1$ ,3."2$%02, "4444444444444444444444444444444444 @ ,)60 &3)8-$ "%0.,.0n",.1-%)"36 -* .1$ ,3."2$%02, "444444444444444444444444444444@? !&&.,44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@E 'r4444444444444444444444444444444444444444444444444444444444444444444444444444D !.0%-.-%+ 3 .,1$ -$)2)0)#4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444D .&/0%"#-,.#444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444DD .&/0%"#,)1 2!, 344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444DE 31,%/-%)")8.,-%1%/."-3."2)"7-44444444444444444444444444444444444444444444444444444444444444444444444444444444D .-.)00 1-%)" -$)234444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E n",+% *3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E 63 ,+.-%)"34444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E'

PAGE 6

D .-.".03%3 -$)2444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E? ,!3-*),-$%" 334444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444EE %&%-.-%)"3)8-$ -!2444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E ?rnrrrn44444444444444444444444444444444444444444444444444444444444444444 $ %,3-.,-%1%/."-9!3."444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !3.">3r.,,.-%+ 444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' + "!%02%"#.35344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A@ !%02%"#3%#"%8%1."1 44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A@ !%02%"#.1-%+%-% 34444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444AE !%02%"#%2 "-%-% 34444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A !%02%"#, 0.-%)"3$%/344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !%02%"#/)0%-%13B-$ 2%3-,%6!-%)")83)1%.0#))23C44444444444444444444444444444444444444444444444 !%02%"#1)"" 1-%)"3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !%02%"#3%#"%8%1."1 8),3%#"33&3."25")*0 2# 44444444444444444444444444444444444444444? $ 1)"2.,-%1%/."-9 ,)"%1.4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A ,)"%1.>3r.,,.-%+ 44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 + "!%02%"#.353444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !%02%"#3%#"%8%1."1 444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 !%02%"#.1-%+%-% 344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' !%02%"#%2 "-%-% 344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@ !%02%"#, 0.-%)"3$%/344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E !%02%"#/)0%-%13B-$ 2%3-,%6!-%)")83)1%.0#))23C44444444444444444444444444444444444444444444444A !%02%"#1)"" 1-%)"3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' !%02%"#3%#"%8%1."1 8),3%#"33&3."25")*0 2# 44444444444444444444444444444444444444444' $ $%,2.,-%1%/."-9%"244444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444'D %"2>3r.,,.-%+ 4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444' + "!%02%"#.353444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444? !%02%"#3%#"%8%1."1 444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444? !%02%"#.1-%+%-% 344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@ !%02%"#%2 "-%-% 344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@' !%02%"#, 0.-%)"3$%/344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@D !%02%"#/)0%-%13B-$ 2%3-,%6!-%)")83)1%.0#))23C44444444444444444444444444444444444444444444444@E !%02%"#1)"" 1-%)"3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444@A !%02%"#3%#"%8%1."1 8),3%#"33&3."25")*0 2# 44444444444444444444444444444444444444444D @nnrrrnr4444444444444444444444444444444444444444444444444444444444444444444444444444444D@ !&&.,)8%"2%"#344444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444D@ %31!33%)")8%"2%"#3444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444E .,,% ,3-)88 1-%+ .1$ ,$%02n",.1-%)"34444444444444444444444444444444444444444444444444444444444E .1%0%-.-),3)888 1-%+ .1$ ,$%02n",.1-%)"34444444444444444444444444444444444444444444444444444E? !&&.,44444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444EE )"" 1-%)"3*%-$, +%)!3 3 .,1$44444444444444444444444444444444444444444444444444444444444444444444444444444444444E n&/0%1.-%)"38),,)8 33%)".0,.1-%1 444444444444444444444444444444444444444444444444444444444444444444444444444444444' 1)&& "2.-%)"38),!,-$ 3 .,1$444444444444444444444444444444444444444444444444444444444444444444444444444444D

PAGE 7

E rnF nrnnrrrr44444444444444444444444A nrn(4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A' n",+% *!%2 8),-$ %,3-),&.0n",+% *4444444444444444444444444444444444444444444444444444444444444444444A' n",+% *!%2 8),-$ %,3-n"8),&.0n",+% *4444444444444444444444444444444444444444444444444444444444444444A' n",+% *!%2 8),-$ 1)"2n"8),&.0n",+% *444444444444444444444444444444444444444444444444444444444444A? n",+% *!%2 8),-$ $%,2n"8),&.0n",+% *444444444444444444444444444444444444444444444444444444444444444A? n",+% *!%2 8),-$ 1)"2),&.0n",+% *44444444444444444444444444444444444444444444444444444444444444A? r4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444AD nn444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444

PAGE 8

n .60 /.# ?!3.">310.3331$ 2!0 4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444A? ? ,)"%1.>310.3331$ 2!0 444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 ?'%"2>310.3331$ 2!0 4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444?

PAGE 9

A 63-,.1-)8%33 ,-.-%)", 3 "2-)-$ ,.2!.1$))0 )8-$ "%+ ,3%-)80),%2.%".,-%.0!08%00& "-)8-$ =!%, & "-38),-$ #, )8)1-),)8$%0)3)/$ nnrnrnrrnr r nrnnrnnrn nr nn !"#$ %& !#!3$.%,,%3" &/0 .<),!,,%1!0!&."2n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

PAGE 10

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n"/.,-%1!0.,9& 3!6< 1-%+%-3-.& "-3$)*3*$n.&%", 32%"-$%3=!.0%-.-%+ 3 .,1$/,)< 1-.3* 00.3 *$n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

PAGE 11

nrnr .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1 $%021., 3 --%"#3 80 1--$ 1$.,.1,%3-%13)8+)0!"-.,/, 5%"2 ,#.,"/,)# ,.&3.3* 00.3)81$%021., 3 --%"#34 )0!"-.,/, 5%"2 ,#.,"/,)#,.&3 &/$.3%: 31$))0, .2%" 339%"3.2)8.22, 33%"#.1$%02 1., 3 ,+%1 8),8)!, .,)021$%02, "4r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n"/.,%1!0.,9 3%"1 &)3-)8-$ /,)+%2 ,3$.+ .0, .2/, /., 21$%02, "8),5%"2 ,# .,"6 8), -$ )88 ,-$ /,)#,.&9-$ !3 -$ 3-."2.,23.3* 00.3-$ %,)*"0 33 )"/0."3-$.--$ $.+ 2 + 0)/ 2)+ ,-$ .,34$ 3-."2.,23%"10!2 3 + ,.02)&.%"393!1$. 3$ .0-$."2 3)1%.0I &)-%)".0I&)-),2 + 0)/& "-."2 & ,# "-0%,.196!--$ 2)")-3!## 3-.*.)8 .1$%"#),%",.1-%"#*%-$1$%02, "43., 3!0-9.1$ ,1$%02%",. 1-%)"3%"-$ /,)#,.&

PAGE 12

%"1$%021., 3 --%"#33-,)"#0, 80 1--$ 1$.,.1,%3-%13)8.1 $ ,1$%02%",.1-%)"3%"1$%021., 3 --%"#34 ), )+ ,9-$ %30%--0 3 .,1$)"-$ ".-!, ."2=!.0%-)8.1$ ,1$%02%",.1-%)"3%" /, 5%"2 ,#.,"/,)#,.&39 + "-$)!#$&."3-!2% 33$)*-$ /)3%-%+ 88 1-3 )8/, 5%"2 ,#.,"/,)#,.&3)"1$%02, ">32 + 0)/& "-.0" 234$%30.15)8, 3 .,1$&.5 3-$%3 =!.0%-.-%+ 3 .,1$/,)< 1-2 / "2)"-$ 7%3-%"#, 3 .,1$)"-$ 1$.,. 1,%3-%13)8.1$ ,1$%02 %",.1-%)"3%"1$%021., 3 --%"#34$!39-$%3=!.0%-.-%+ 3 .,1$/,) < 17.&%" 3.1$ ,1$%02 %",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%021., 3 --%"# 396.3 2)"-$ .1$ 1$%02%",.1-%)"3%"1$%021., 3 --%"#3-$.-., 1$.,.1,%: 26-$ -$ ), -%1.0),% "-.-%)")8 1,%-%1.0-$ ),."2/)3-&)2 ,"%3&.3.1$ ,.!-$),%-)+ ,1$%02, "4n"$%31$./,n*%00 7/0.%"-$ !"%=! 1$.,.1,%3-%13)80),%2.>3+)0!"-.,/, 5%"2 ,#., "BC/,)#,.&."2%-3 0%&%-.-%)"393!1$.3."%".2 =!..11)!"-.6%0%-33&)8-$ /,)#, .&403)9n*%0010.,%8 -$ /!,/)3 )8-$ 3-!29.0)"#*%-$.3-.& "-)8-$ /,)60 &."2-$ %&/),."1 )8-$ 3-!24 %".009n*%00&.5 &3!6< 1-%+%-3-.& "-%"),2 ,-)%"1, .3 -$ %",".0+.0%2%-)8-$%3 3-!24 nrnrrnnn 0),%2.>3+)0!"-.,/, 5%"2 ,#.,"BC/,)#,.&9.3-$ 3!0-)8. 1)"3-%-!-%)".0 .& "2& "-/.33 26DJ)80),%2.+),3%"r)+ &6 ,96 #."%"-$ @D31$))0 .,43." .,01$%02$))22 + 0)/& "-."2 2!1.-%)"/,)#,.&9-$ /,)#, .&%3+)0!"-.,9 $%#$=!.0%-9."28, 8), 0%#%60 1$%02, ", #.,20 33)88.&%0%"1)& 4% &%0.,-))-$ ,3-.3> /, 5%"2 ,#.,"/,)#,.&39-$ /,)#,.&%36.3 2)"%-3)*" .,00 ., "%"#3-."2.,239*$%1$ 80 1-%-3)*"),#."%:.-%)"393-,!1-!, 39."2, 3)!,1 34%,3-)8.009!"0%5 &.")-$ ,3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&39-$ /,)#,.&%3%"2 / "2 "-8,)&/!60%1 31$))033&3 B%"";,49 $--/II***4.1$&), 0)+ &), 4),#II5-8K80),%2.K6))5KA4/28 C4$.-%3-)3.9-$

PAGE 13

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n".22%-%)"9/,)+%2 ,380 7%603-,!1-!, -$ $)!,3/ ,2.."22.3/ ,* 59.3 0)"#.3-$ & --$ =!%, 2%"3-,!1-%)".0$)!,3B-.)80),%2.# "1 8),(),58),1 n"")+.-%)"9 $--/II***480),%2.<)634),#I .,00 .,"%"#II34$-&0 C4), 7.&/0 9%8. /,)+%2 ,)88 ,3.31$))0 .,/,)#,.&9%-*)!02)88 ,'$)!,3)8%"3-,!1-%)" .1 $2.-)& --$ @?$)!,, =!%, & "-4n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

PAGE 14

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

PAGE 15

@ 5%"2 ,#.,"/,)#,.&32)B-.)80),%2.# "18),(),58),1 n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n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n"),2 ,-) 7.&%" .00%"3-,!1-),3>&),.01$.,.1, 9-$ /,)#,.&

PAGE 16

D =!%, 3.00%"3-,!1-),3-)6 31, 26 8), &/0)& "-."2, 31, 2.-0 .3-)"1 + ,@ .,34 ), )+ ,9-$ /,)#,.&/0.1 33-,%1-0%&%-3)".1$ ,1$%02,.-% )3."210.333%: 34 .3 2)"-$ ")-%)"-$.-0)*.1$ ,1$%02,.-%)3."23&.00#,)!/3%: 30 .2).$%#$=!.0%-/, 5%"2 ,#.,"/,)#,.&9-$ /,)#,.&, =!%, 3)" .1$ ,-)6 3/)"3%60 8),.-&)31$%02, "9*%-$.10.333%: ")--) 71 21$%02, "4n8)" 10.33$.3),&), 1 $%02, "9 -$ 10.33&!3-$.+ .-0 .3-)" .22%-%)".0%"3-,!1-),*$)%3")-, =!%, 2-)$.+ .$%02 + 0)/& "-33)1%.),1)&/0 ." & ,# "-0%,.1-,.%"%"#1 )!,3 B-.)80),%2. # "18),(),58),1 n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rnnnrnrrnnn $%3%3-$ -$%,2 .,-$.--$ 3-.$.3)88 2-$ /,)#,.&9*$%1$/ ,)+%2 3 + 8)!, .,)021$%02%"0),%2.*%-$8, 9/!60%108!"2 2 2!1.-%)"%"-$ .,/,%),-) 5%"2 ,#.,"4)* + ,9-$ /,)#,.&3-%003$)*3&."0%&%-.-%)"3 + "$)!#$&." /., "-3., /!--%"#-$ %,1$%02%"-$ /,)#,.&4)3-)8.009-$ 3-."2.,2 3., /)),L-$.-%39 .&)"#"&%"%&!&3-."2.,23-$.-$.+ 6 "2 + 0)/ 26-$ r.-%)".0n"3%-!8),.,0 2!1.-%)" 3 .,1$BrnC8),3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&39 -$ /,)#,.& & -3)"08)!,3-."2.,23 .,00 .,"%"#3-."2.,239&.7%&!&10.3 33%: 93-.881$%02,.-%)9."2

PAGE 17

E &)"%-),%"#B.," --9!32-9,% 2&."9)29M%"3*),-$9EC40),%2.%3.&)"# )"03 + 3-.3-$.-& -0 33-$."$.08)8rn>3=!.0%-6 "1$&.,539."2-$ /,)#,.&%3 1)"3%2 2-)$.+ 3 ,%)!3/,)60 &36rnBrn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r.-%)".0n"3-%-!8),.,02!1.-%)" 3 .,1$BDC/)%"-3)!--$.--$ 0), %2.%"2 ,#.," .2%" 331, ,N.-))08),.33 33%"#-$ 31$))0, .2%" 33)8.00 ",%"#5%"2 ,#.," ,3N%3 ")-10.33%8% 2.3.,%#),)!3 +.0!.-%)"2 3%#"6 1.!3 G-$ 1, ,&. ),&.")-/,)+ -) % 02.11!,.%"8),&.-%)".6)!-*$.-1$%02, "5")**$ "-$ 3-.,-5%"2 ,#.,"HBrn9 DC4$!39-$ rn3-.3-$.-%-%3!"8.%,."2!"*%3 -)0%"51$%02, ">3%"2 ,#. ," 1, ,31), 36.15-)*$.-1$%02, "0 .," 22!,%"#-$ .,),-)-$ /,)+%2 ,>3 .11)!"-.6%0%-4n".22%-%)"9-$ 0.*, =!%, 3-$.--$ 3-./.,-& "-)82!1.-%)"&!3.33 33-$ 31$))0, .2%" 33)8.00 ",%"#5%"2 ,#.," ,3.11),2%"#-)3-., .2%" 333-."2.,23 ."2&!3-G 3-.60%3$5%"2 ,#.,", .2%" 33,.3HB(%05%"39@9/4?C4"2 ,-$ 0 ),%2. 33&9./,)+%2 ,%3/!-)"/,)6.-%)"."2%33!6< 1--)%",+ "-%)"9%8 -$ /,)+%2 ,2) 3 ")-& -%-331$))0, .2%" 33-.,# -38),-*) .,34n8./,)+%2 ,8. %03-)& -%-3-.,# -38), 8)!, .,39-$ /,)+%2 ,0)3 3%-3 0%#%6%0%--)/.,-%1%/.%"-$ /,)#,.&4$%3 .11)!"-.6%0%-33&&%#$-0 .2/,)+%2 ,3-)/, 8 ,1$%02, "8, )&!// ,."2&%220

PAGE 18

%"1)& 8.&%0% 3-)1$%02, "8,)&0)*%"1)& 8.&%0% 34$%3%36 1.!3 -$)3 1)")&%1.00 .2+."-.# 21$%02, "., 0%5 0-)$.+ 3!88%1% "-.1.2 &%135%003."26 0, .2/, /., 28), 5%"2 ,#.,"9."2./,)+%2 ,%3.60 -) .3%0& -%-331$))0, .2%" 3 3-.,# -36 ",)00%"# -$)3 .2+."-.# 21$%02, "4 3., 3!0-96)-$-$ /)),3-."2.,23."2."%".2 =!..11)!"-.6%0%-33 &)8-$ /,)#,.&., 0%5 0-)" #.-%+ 0%"80! "1 -$ 31$))0, .2%" 33)81$%02, "8 ,)&0)* %"1)& 8.&%0% 34n"/.,-%1!0.,9-$ /,)#,.&9!"0%5 &)3-)8-$ 3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3-$.-&.5 ." 88),--)2 1, .3 -$ .1$% + & "#./6 -* 2%3.2+."-.# 21$%02, "."2-$ %,.2+."-.# 2/ ,392) 3")-3-.10 .,0),3/ 1 %8%1.00$)*-) %&/,)+ 2%3.2+."-.# 21$%02, ">331$))0, .2%" 334), 7.&/0 9r *; ,3 ."2 "-!15.%& -)/,)+%2 1$%02, "%"/)+ ,-*%-$8, /, 31$))0 2!1.-%)"9."2r *; ,3 0.* 3/ 1%.00 &."2.38, 9$%#$=!.0%-/, 31$))08),'."2? .,)0230%+%"#%"-$ 3-.>3$%#$ 3-/)+ ,2%3-,%1-3%"),2 ,-), & 2-$ %,3)1%) 1)")&%12%3.2+."-.# 3B-.) 80),%2.# "18), (),58),1 n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

PAGE 19

A %"1, .3 26-$ /,)#,.&-$.-2) 3")-&.5 .10 .,3-.& "-.6)!$)*-)%&/,)+ 2%3.2+."-.# 21$%02, ">331$))0, .2%" 33."2%3")-3!//),26-$ 3-.>30. ,# ,%"+ 3-& "-4 rrnn n"-$%3, 3 .,1$/,)< 1-G 88 1-%+ H.1$ ,1$%02%",.1-%)"%32 8 %" 2.3-$ /,)1 33-$.0 .236)-$.1$ ,3."21$%02, "-)3)0+ -$ %,)*"/,)60 &3-$,)!#$1,%-%1 .0-$%"5%"#403)9 G!"%0.,.0H.1$ ,1$%02%",.1-%)"%32 8%" 2.3-$ )//)3%)8G 8 8 1-%+ H.1$ ,1$%02 %",.1-%)"9."2& ."3-$.-.1$ ,.!-$),%-)+ ,1$%02, "/, + "-36)-$. 1$ ,3."21$%02, 8,)&1,%-%1.00-$%"5%"#."2%"2 / "2 "-03)0+%"#/,)60 &34 ,)&.-,.2%-%)".0+% *)8.1$ ,1$%02%",.1-%)"9 88 1-%+ .1$ 1$%02%",.1-%)" & ."3-$.-.1$ ,3$ 0/1$%02, 88 1-%+ 00 .,"."2/,.1-%1 .3 -)835%003."2.6)2)8 5")*0 2# -)!3 %"-$ *%2 ,3)1% -4 .1$ ,32 ,&%" *$.-1$%02, "&!33-!29."2 1$%02, "*.%-8),.1$ ,3-)00-$ &*$.--)2)4$!39 88 1-%+ .1$ ,1$% 02%",.1-%)" ".60 3.1$ ,3-)$.+ 1$%02, "3!11 338!008)00)*-$ .1$ ,3>2%, 1-%)"3."2# -#))23, 3!0-3%"31$))04 )* + ,9-$%3-,.2%-%)".02 8%"%-%)")8 88 1-%+ .1$ ,1$%02%",.1-%)"%3 0%5 0-)0 .2 1$%02, "-)/.33%+ 0.11 /-*$.-.1$ ,3!-,."2/,.1-%1 2% 31%/0%" *%-$)!-6 %"#.*., )8 *$.-%3, .00$.// "%"#4$.-%3-)3.91$%02, "-$%"5."26 $.+ .11),2%"#-)-$ .1$ ,3> +.0! 3."2%2 )0)#% 39*$%1$., 2 /0,))2%"-$ %,)*"/.37/ ,% "1 3."2, 80 1/.,-%1!0.,%2 )0)#%1.0/.-,"3),3)1%.03-,!1-!, 34$%3/, + "31$%02, "8,)&6 %"#1)"31%)!3 )8-$ *),02."2-$ &3 0+ 3-$,)!#$-$ %,8 0%"#3."22 3%, 3.3* 00.38, )&2 + 0)/%"#-$ %, .6%0%-% 3-), .0%: ."23 %: -$ *),02*%-$-$ %,)*"%""-%)"34 $!391$%02, "" 2-)2 + 0)/-$ %,)*"1,%-%1.0-$%"5%"#."2/,)60 &3)0+%"#35% 003%" ),2 ,-).1-%+ 03 5.6 -,!"2 ,3-."2%"#)8."2%&/,)+ & "-%"-$ .3/ 13)8-$ %, 31$))0%"# 7/ ,% "1 3%".1)00.6),.-%+ ."21)00 #%.0*.4 .1$ ,3" 2-)$ 0/1$%02,

PAGE 20

2 + 0)/-$ %,1,%-%1.0-$%"5%"#."2/,)60 &3)0+%"#35%003-$,)!#$ 88 1 -%+ .1$ ,1$%02 %",.1-%)"3."2 + "-!.00-.5 -$ %,/0.1 3%"./.,-%1%/.-),92 & )1,.-%13)1% -4$.-%3-)3.9 88 1-%+ .1$ ,1$%02%",.1-%)"1)"-,%6!3-)2 + 0)/%"#-$ 5%"23)81, %-%1.0-$%"5%"#."2 /,)60 &3)0+%"#35%003-$.-., 2 28),1$%02, "-) + "-!.00-.5 -$ % ,/0.1 3%". /.,-%1%/.-),92 &)1,.-%13)1% -43., 3!0-9%"-$%3/,)< 1-G 88 1-%+ H.1$ ,1$%02%",.1-%)" %32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 9."2-$ 2 8%"%-%)")8G 88 1-%+ H .1$ ,1$%02%",.1-%)"N -$ /,)1 33-$.-0 .236)-$.1$ ,3."21$%02, "-)3)0+ -$ %,)*"/,)60 &3 -$,)!#$1,%-%1.0 -$%"5%"#N%32%88 "-8,)&-$ -,.2%-%)".02 8%"%-%)")8 88 1-%+ .1$ ,1 $%02%",.1-%)"4 nnn 3%"#.8 &%"%3-I1,%-%1.0-$ ),%",/, -.-%)"92*.,2."2( 3-#.BAA?C/)%"2)!-$.--$ %",.1-%)"36 -* ".1$ ,3."21$%02, "%"10.33,))&3* "),& .00G$%#$%"/)* ."20)*%"3)0%2.,%-HB/4C9."21)"10!2 2-$.-&)3-)8-$ 1)"+ ,3.-%)"36 -* ".1$ ,3."2 1$%02, "3$)* 2/)* ,, 0.-%)"36 -* "-$ &4$.-%3-)3.9.1$ ,3 7 ,1%3 !"%0.,.0 .1$ ,.!-$),%-)+ ,1$%02, "%"),2 ,-)8),1 1$%02, "-)/.33%+ 00 ., ".6)2)85")*0 2# -$,)!#$!" =!.01)&&!"%1.-%)"6 -* ".1$ ,3."21$%02, "4 n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n1.00)!,".& HB.-:M 10 00."9AAEC4

PAGE 21

n"-$ 1.3 )8-,.2%-%)".0*$)0 10.33%"3-,!1-%)"9.1$ ,3&)3-00 .21 0.33,))&-.05%"#9 2 1%2 *$)%3-)-.059."2"),&.00 +.0!.*$.-1$%02, "., =!%, 2),/ ,& %-2-)3.403)9 .1$ ,3.351$%02, ".0)-)8=! 3-%)"3."21$%02, "."3* ,+ ,6,% 809." 2&)31)&&!"%1.-%)")11!,3*%-$%".G1 "-,.0.1-%)":)" 4H$%35%"2)83-,!1-!, 29.1$ 2%, 12 %"3-,!1-%)"0 .231$%02, "-)1)&/0*%-$*$.--$ 0 .2 ,3)83)1% --$%"5. 3* 00.3-$ 3-.-!3 =!)93%"1 .1$ ,38),1 .001$%02, "-)&)+ -$,)!#$G-$ 3.& 0 .,"%"# 3 =! "1 HB( 3-*))29 "%#$-9M 22 "9AAE9/4EC4n".22%-%)"91$%02, "$.+ -,)!60 # --%"#)//),-!"%-% 3-) 1)&&!"%1.-$ %,)*"-$)!#$-39%2 .39."28 0%"#3.3* 00.3-)3$., -$ %,)*"3),% 3."2 7/ ,% "1 3*%-$)-$ ,34 3., 3!0-9-$ 1)"+ ,3.-%)"36 -* ".1$ ,3."21$%02, ", 3!0-%"#8, )&-$ !"%0.,.0 .1$ ,1$%02%",.1-%)"3/, + "-)!"#1$%02, "8,)&2 + 0)/%"#-$ % ,.6%0%-% 3-)3)0+ /,)60 &3L8,)&, 1)#"%:%"#."22 .0%"#*%-$-$ %,)*"/,)60 &3%"-$ %,2.%00%+ 3L."28,)& .,-%1!0.-%"#-$ %, 7/ ,% "1 39-$)!#$-39" 239%2 .39."2/,)60 &3%"10. 33,))&34 r nnn!nn $ !"%0.,.0.1$ ,1$%02%",.1-%)"3%"1$%021., 3 --%"#3.00)*1 $%02, "8 )//),-!"%-% 3-) "#.# %"2 + 0)/%"#-$ %,2%88 "-.6%0%-% 3%"2 / "2 "0."2.1-%+ 06 /, + "-%"#.1$ ,38,)& 88 1-%+ 0%",.1-%"#*%-$1$%02, "4.5%"# %"-).11)!"--$ 8.1--$.88 1-%+ .1$ ,1$%02%",.1-%)"3%"1$%021., 3 --%"#33%#"%8%1. "-01)"-,%6!-)1$%02, ">3 .,00 .,"%"#."22 + 0)/& "-9-$%3/,)60 &%31)"3%2 2.-$, .--)%& /,)+%"#-$ =!.0%-)8 1$%021., ."2)-$ .,01$%02$))2/,)#,.&34 n"/.,-%1!0.,9+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%021., 3 --% "#3"2-)8)1!3)" 1$%02, ">3.1.2 &%11)&/ "1 ,.-$ ,-$."-$ *$)0 )8 33 "-%.035%00 38),3!11 338!031$))0 .2%" 3393!1$.33 08, #!0.-),35%0034$%3"2 "10 .23-$ 1)"+ ,3.%)"36 -* ".1$ ,3 ."21$%02, "-).%&.-%&/,)+%"#1$%02, ">3.1.2 &%1)!-1)& 3,.-$ ,-$.",. "#%"#)+ ,+.,%)!3

PAGE 22

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nnn!nn $ /!,/)3 )8-$%3, 3 .,1$/,)< 1-%3-)%"+ 3-%#.6.,,% ,3-)."28 .1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ 3/ 1-%+ 9%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%021., 3 --%"#34$%3!0-%&.0.%&3-) $ 0/.1$ ,38%"2*.3-) )+ ,1)& -$ !"%0.,.0.1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,# .,"/,)#,.&3%" 1$%021., 3 --%"#3."2 &/)* ,6)-$-$ &3 0+ 3."21$%02, "-$,)!#$ 88 1%+ .1$ ,1$%02 %",.1-%)"34 "rn# n$rnn .3 2)"-$ -$ ), -%1.0),% "-.-%)")81,%-%1.0-$ ),."2/)3-&)2 ,"%3& 9-$ #!%2%"# 3 .,1$=! 3-%)"%39G($.-5%"23)86.,,% ,3-)."28.1%0%-.-),3)8 88 1 -%+ .1$ ,1$%02 %",.1-%)"32).1$ ,38.1 %"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3% "1$%021., 3 --%"#3PH$%3

PAGE 23

' =! 3-%)"%36.3 2)"-$ ")-%)"-$.-.1$ ,3.3-$ )//, 33),38),1 1$%02, "-)0 .,"-$ 2)&%"."-1!0-!, ."2%2 )0)#+%.-$ %",.1-%)"36 -* "-$ &3 0+ 3."21$%02, "9."2 .1$ ,3.3-$ )//, 33 2., 8),1 2-)1)"-,%6!-)&.%"-.%"%"#-$ 3)1% .0%" =!.0%-% 3*%-$%"-$ $% ,.,1$%1.03-,!1-!, )831$))034 !% &n!rn n*.36),"."2#, *!/%"-$ ), ."3)1% -9*$%1$*.3 7-, & 0$)&)# )!3%" ,&3)8 -$"%1%-91!0-!, 9."2$%3-),9."2*.3./--)6 .3%02)&%".26 -$ %2 )0)#)8-$ &.%"3-, .&3)1% -4n-3$)&)# %-&.5 3/ )/0 8)00)*2)&%"."-,!0 3),+% */)%"-3,.-$ -$."/!,3!%"#-$ %,)*")/%"%)"3),0%8 3-0 393%"1 / )/0 ., .8 ,.%2)86 %"#%3)0.28,)&-$ &.<),%-#,)!/62%3)6 %"#-$ "),&3)8-$ 2)&%"."-#,)!/4), 7.&/0 9n$.+ 6 "-.!#$-), 3/ 1-."2")-2%3)6 3 "%),39%"10!2%"#.1$ ,39/., "-39."2.2&%"%3-, .-),343/ 1%.00 *$ "n*.3.3-!2 "-%"), .9n1)!02")-%&.#%" -$ /)33%6%0%--$.-.1$ ,3>%"3-,!1-%)"*.3 *,)"#),-$.-n1)!02.35..1$ ,3)& -$%"#6 8), 6 %"#1.00 2)"6 -$ .1$ ,4 !,-$ ,&), 9&/., "-3.63)0!03!//),2.1$ ,3>%"3-,!1-%)".3 00.331$))02%, 1-%)"3 ."2&.2 -$ %,1$%02, "8)00)*-$ 3 2%, 1-%)"3*%-$)!-." 71 /-%)"34),%"3."1 9&/., "-3 6)!#$-& *$%1$ + ,6))53.1$ ,3, 1)&& "2 2."2.0*.30 -& /.,-%1% /.%"%"3%2 .3 00.3)!-3%2 10.33,))&.1-%+%-% 343., 3!0-9n-)-.00-,!32.1$ ,3>)" 3%2 2/ ,3/ 1-%+ 3 ."2)" *.%"3-,!1-%)"%"10.33,))&3."20 .," 21)"8),&%-."2/.33%+ 33, .-$ ,-$." 1,%-%1.0-$%"5%"#35%0034 )"-,.,-)&3-,)"#6 0% 83.6)!-.1$ ,3."231$))0%"#9n*.33)& -%& 3 2%3.//)%"2-$.-.1$ ,38, =! "-0 7/, 33 2-$ %,1)&/0.%"-3.6)!--$ .1$%"#/,)8 33%)"%" 10.33,))&34n"/.,-%1!0.,9.1$ ,31)&/0.%" 2-$.--$ %,3.0.,% 3* 0)* ,-$."-$)3 )8)-$ <)63."2-$.--$ 3!88 28,)&.0)-)8&%31 00." )!32!-% 34n$ .,2-$ 3 5%"23)8 1)&/0.%"-3 &), 8, =! "-0*$ "n.-"2 2-$ /,%+.$%#$31$))0-$."*$ "n.-"2 2-$ /!60%1&%220

PAGE 24

? 31$))04$%3%36 1.!3 ), ."/,%+.31$))03., 1)"-,)00 266)-$-$ %, 8)!"2.-%)"3."2-$ ), ."#)+ ,"& "-9*$%0 ), ."/!60%131$))03., 2)&%".2)"06-$ ), ."#)+ ,"& "%",&3)8.1$ ,397-6))539/$3%1.0 "+%,)"& "-398.1%0%-% 39 =!% /& "-9."21!,,%1!0.4$%3 & ."3-$.--$ 3 31$))033&3., + ,$% ,.,1$%1.003-,!1-!, 2."2/ + "-.1$ ,38,)& -$%"5%"#1, .-%+ 0."21,%-%1.00.3* 00.3 7/, 33%"#-$ %,-$)!#$3."2)/%"%)"38, 04$!39n 8 0--$.-.1$ ,3* %2 "-%8% 2.3-$ 0)* 3-/ ,3)"3%"-$ $% ,.,1 $%1.0),#."%:.-%)"3)8 31$))03 + "-$)!#$-$ 10.33%8% 2.3-$ $%#$ 3-/)3%-%)"%" .1$10.33 ,))&4 n".22%-%)"9%"-$ AE3."2A39n$.26 "-.!#$-3!6< 1-3*%-$3%7-),3 + "3-!2 "-3%"-$ 10.33,))&%"), .4$%3/$3%1.0 "+%,)"& "-8),1 2.1$ 3-)1)"3%2 ,)" *.91,.&&%"#& -$)23)8.1$%"#.3-$ 6 3-*.)8%"3-,!1-%)"L8), 7 .&/0 9.1$ ,3$.2 3-!2 "-3& &),%: + ,-$%"#%"7-6))539."23-!2 "-3* ")-.00)* 2-).35-$ % ,.1$ ,3 =! 3-%)"3.6)!--$ 1)""-)8-$ 7-6))534 .1$ ,3.0*.33.%23)& -$%"#%"),2 ,-)-,."3&%5")*0 2# 9."23-!2 "-3)"00%3" 2-)-$ %,%"3-,!1-%)"%"),2 ,-)# -.#))2#,.2 4n$. 2 + 7/ ,% "1 2),%&.#%" 2.1$ ,3>%"3-,!1-%)"6.3 2)"2%.0)#! 9, 80 1-%)"9."2 1)&&!"%1.-%)"4n$.2)"0*,%-"2)*".1$ ,3>0 1-!, 38,)&-$ 6 #%""% "#-)-$ "24)& )8-$ .1$ ,3, #!0.,01$ 15 2%83-!2 "-3-))5")3."21)"3%2 23-!2 "-3> .6%0%-% 3-)*,%2)*"10 .,0."2.11!,.0.3)" )8-$ 71 00 "-3-!2 "-3>-.0 "-34n& .2 + 88),--) 7.1-0*,%2)*".1$ ,3>0 1-!, 3%"10.33."23/ "-.0)-)8-%& ),#."%:%"#."2, *,%-%"#-$ 0 1-!, 3.-$)& .8,10.334), )+ ,9n*.33)& -%& 3.60 -)1)"-.1 -.1$ ,3%"),2 ,-)-.05 .6)!-&8!-!, 0%5 ",%"#&" 7-31$))096!-,., 0#)-%"-)!1$*%-$.1$ ,3%"),2 ,-) 2%31!33/ ,3)".0&.-,34($ "n*.31.00 2)"6.1$ ,39n 7/ 12-$.-n*)!026 6!5 2 ),*.," 2,.-$ ,-$."/,.%3 2), "1)!,.# 24

PAGE 25

@ n"3$),-9n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
PAGE 26

D n(n n"-$%31$./,n*%00, +% *-$ 0%,.-!, )".1$ ,1$%02%",.1 -%)"3.3* 00.3)"/, 5%"2 ,#.,"/,)#,.&39 3/ 1%.003-.8!"2 2/, 5%"2 ,#.,"/,) #,.&396!3%"#-$ -$ ), -%1.0),% "-.-%)")81,%-%1.0-$ ),."2/)3-&)2 ,"%3&4 7.&%"% "#-$ 88 1-%+ 33."2 0%&%-.-%)"3)83-.8!"2 2/, 5%"2 ,#.,"/,)#,.&39-$%30%,.-!, +% *3$)*3-$ # ,.0 1$.,.1,%3-%13)83-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3-$.-+)0!".,/, 5%"2 ,#.," /,)#,.&3%"1$%021., 3 --%"#3., 6.3 2)"4$%30%,.-!, +% *%"10 !2 3$)*.1$ ,1$%02 %",.1-%)"3%"1$%021., 3 --%"#3/0..3%#"%8%1."-,)0 %"1$%02, "> 3 .,00 .,"%"#."2 2 + 0)/& "-403)9-$%3, +% */, 3 "-3$)*.1$ ,1$%02%",.1-%)"3., %"80! "1 26 2%88 "-8.1-),3)81$%021., 3 --%"#3."2&.%"01)"3%3-)8-.056 ".1$ ,3."21$%02, "4 n".22%-%)"9-$%3, +% *0))53.-$)*.1$ ,1$%02%",.1-%)"3., 1$.,.1,%: 2.3!"%0.,.09.3 00.3$)*-$ !"%0.,.0.1$ ,1$%02%",.1-%)"3/, + "-1$%02, "8, )&6 %"#.*., )8-$ %, 3)1%.0, .0%-."2-.5%"#.1-%)"-)&.5 1$."# 3%"-$.-, .0%-4%". 009-$%3, +% *1)"3%2 ,3 $)*.1$ ,3.3-$ )//, 33 2."2)//, 33),3., .60 -))+ ,1)& -$ !"%0., .0.1$ ,1$%02 %",.1-%)"3%"1$%021., 3 --%"#36-.5%"#.11)!"-)8-$ 1.!3 3."2/, )60 &3)8-$ !"%0.,.0 .1$ ,1$%02%",.1-%)"34 nnnn ,%-%1.0-$ ), 7.&%" 3G-$ /.-,"3."2& ."%"#3 ".12*%-$% "."2.&)"#/ )/0 %" 3/ 1%8%13)1%.00)1.-%)"3.-3/ 1%8%1/)%"-3%"$%3-),H."2 7/, 33 3 G/.,-%1!0.,, 0.-%)"3)8 1!0-!, 9/)* ,9."2%2 "-%-HB "."9?9/4@?C4n-.03).33!& 3-$.-G-$ 0. -%)"3$%/ 6 -* "1)"1 /-."2)6< 1-."26 -* "3%#"%8% ,."23%#"%8% 2%3" + ,3.60 ),8%7 2."2%3 )8"& 2%.26-$ 3)1%.0, 0.-%)"3)81./%-.0%3-/,)2!1-%)"."21)"3!&/-% )"L-$.-1 ,-.%" #,)!/3%"."3)1% -."2/.,-%1!0.,3)1% -% 3., /,%+%0 # 2)+ )-$ ,3L-$.-&.%"3-, .&

PAGE 27

E 3 .,1$/,.1-%1 3., # ,.009.0-$)!#$&)3-)8"!"*%--%"#09%&/ 0%1.2%"-$ /,)2!1-%)" )833&3)810.339,.1 9."2# "2 ,)//, 33%)"HB%"1$ 0) M1., "9@9 /4'?C4,)& -$%3/ ,3/ 1-%+ 9.003)1%.0%",.1-%)"36 -* ".1$ ,3."23-!2 "3., 1$.,.1,%: 2.3 $% ,.,1$%1.003-,!1-!, 293%"1 3-!2 "-3*."--)6 *.,2 28), 7$%6%%"#2%31%/0%" 9 %"00 1-!.06 $.+%),9),$.,2*),5B%,)!79AC4 .1$ ,39.3 7/ ,-3G/)33 33%"#5")*0 2# )8."2
PAGE 28

11),2%"#-)%,)!7BC9%2 )0)#G2%#36 .-$-$ /$ ")& ".08),&3)810.33 ,))& 5")*0 2# ."23)1%.0/,.1-%1 3."2$ 0/3-)0)1.-$ 3-,!1-!,%"#/,%"1%/0 3."2%2 .3-$.& 2%.6 -* "-$ 2)&%"."-3)1% -."2-$ + ,2. 7/ ,% "1 3)8.1$ ,3."23-!2 "-3HB/4 DC403)9%2 )0)#%3.0*.3/,)2!1 29 7/, 33 29."2.11 /2-$,)!#$/.,-%1!0 .,3)1%.0 /,.1-%1 3*%-$%".3/ 1%8%13)1%.01)"7-3!1$.3.1$ ,3>2.%0, )!-%" 3%"10.33,))&3&.5%"# 1!,,%1!0.9/0.""%"#."2.1$%"#0 33)"393-%"#3-!2 "-39."21)&&!"%1.-%"#*%$3-!2 "-3 B%,)!79C4n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rnn ,%-%1.0-$ ), 7/0.%"3-$.-.1$ ,39.3 7/ ,-3/,%+%0 # 2)+ ,1$%02, "9 7 ,1%3 /)* %"-$ 10.33,))&L-$.-%39.1$ ,3-,."3&%--$ 2)&%"."-%2 )0)#)8."3)1% -)-$ %,1$%02, -$,)!#$1!,,%1!0.."2-$ %",.1-%)"36 -* ".1$ ,3."21$%02, "41) "3%2 ,%"#-$ 0.-%)"3$%/6 -* ".1$ ,3."21$%02, "-)6 %"1)&/.-%60 91,%-%1. 0-$ ),10.,%8% 3-$ 1$.,.1,%3-%13)8-$ 0.-%)"3$%/6 -* ".1$ ,3."21$%02, "4)* + ,91,%-%1.0-$ ),2) 3 ")-#%+ 2 -.%03.6)!-$)*.1$ ,3>/)* ,)+ ,1$%02, "%3 7 ,1%3 2-$,)!#$.1$ ,3>."2

PAGE 29

A 1$%02, ">3.1-%+%-% 3),,)!-%" 3*%-$%"2%88 "-10.33,))&3 --%"#34 n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n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

PAGE 30

' .!-$),%-.-%+ -,!-$9H."2G"))" & -$)2%3-$ & -$)28),!"2 ,3-."2%"#HB .+%--9AA?9//4'C4,)&-$%3/ ,3/ 1-%+ 91$%02$))2.3.3)1%.01)"3-,!1-%)"%3.0*.31)"7-!.0%: 2."2 3)1%.002 ,&%" 2%", 0.-%)"-)-%& 9/0.1 9."21!0-!, 9,.-$ ,-$."6 % "#".-!,.0),!"%+ ,3.04 03)9 .,01$%02$))2%"3-%-!-%)"3."2/ 2.#)#., 3)1%.001)"3-,!12,.-$ ,-$.", 3!0-%"# 8,)&.")6< 1-%+ 91)"7-8, 9/)* ,8, 9+.0! 8, 9),!"%+ ,3.0 0-,! 5")*0 2# B.$06 ,# -.049AAAC4")*0 2# %3/,)2!1 2-$,)!#$.+.,% -)8 7/ ,% "1 39*$%1$., 1)"3-."-01)"3-,!12."2, 1)"3-,!124$!39)!,5")*0 2# )8-$ /.3-."2-$ /, 3 "-%3 .0*.3, 0.-%+ ."2%"1)&/0 6 1.!3 -$ & ."%"#3)8)!, 7/ ,% "1 3., 2%88 "-0 %",/, 2.11),2%"#-)*$ "."2$)** !"2 ,3-."2)!, 7/ ,% "1 34$ /)3-&)2 ,"%3/ ,3/ 1-%+ /.3.-"-%)"-)-$ 0.-%)"36 -* "/)* ,."25")*0 2 # ."2 &/$.3%: 3-$ ")-%)"-$.-/)* ,."25")*0 2# ., 1),, 0.-%+ ."2.0*.38)!"2-)# -$ ,%"G*$.-% 3.11 /2 .3,.-%)".0."2-,!-$8!0HB3$ ,M2*.,239AA?9/4EC4$%3%36 1.!3 -$ 7 1%3 )8/)* %-3 08, 3!0-3%" & ,#%"#" *6)2% 3)85")*0 2# ."29%"-!,"9G5")*0 2# 1)"3-."-0 %"2!1 3 88 1-3)8/)* ,HB)!1.!0-9A9/4@C4 ,)&-$%3/)3-&)2 ,"%3-/ ,3/ 1-%+ 9-$ %",.1-%)"36 -* ".1$ ,3."21$%02, "/0. .+%-.0,)0 %"$)*-$ 0.-%)"36 -* "/)* ,."25")*0 2# ., /,)2!1 29 7 ,1 %3 29."2 3%32%"10.33,))&34$%3%36 1.!3 /)* ,%3 7 ,1%3 29, /,)2!1 29& 2%.29."2, 3%32 -$,)!#$2%31)!,3 39*$%1$., .,-%1!0.2%"-$ 8),&3)85")*0 2# -$.-1)"3-% -!-$ 8),&.0 1!,,%1!0..3* 00.3-$ 3)1%.0%",.1-%)"36 -* ".1$ ,3."21$%0 2, "%"10.33,))&3B%,)!79 AC4n")-$ ,*),239-$ %",.1-%)"36 -* ".1$ ,3."21$%02, "%"10!2 +.,% -)8 2%31)!,3 39."2-$ 2%31)!,3 3., #)+ ," 26-$ /)* ,-$.-2 ,&%" 3G *$.-1)!"-3.3 5")*0 2# H."2G*$.-1."6 3.%2."22)" 6*$)&HB."9@9/4C9.3* 00.36-$ /)* ,-$.-1)"-,)033!1$5")*0 2# L8), 7.&/0 9.1$ ,3>.!-$),%-&.5 3 7-%",/, 2

PAGE 31

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rnnrrnnn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n"/.,-%1!0.,9/, 5%"2 ,#.,"/,)#,.&3 /!,3! %&/,)+%"#-$ 31$))0, .2%" 33)8.-,%351$%02, "6/,)+%2%"#-$ &*%$ ",%1$%"# 0 .,"%"# 7/ ,% "1 34$%3%3, 0.2-)-$ 8.1--$.-1$%02, "8,)&1$,)"% 1.00/)),8.&%0% 3., &), 3 ,%)!30."21)"3%3"-02%3.2+."-.# 2-$."-$)3 %"-,."3%-),/)+ ,-."2$. + -$ 0)* 3-31), 3)"3-3)80."#!.# ."231$))0, .2%" 3335%003Brn. ,0$%02.,

PAGE 32

' 3 .,1$r -*),59@L)-,!6.,:.09)0 9M$.3 ."32.0 9?C4$%3%3 6 1.!3 -$ $.+ ,., 0 7/ ,% "1 2.2 =!.3-%&!0%2!,%"#-$ 1,%-%1.0/ ,%)2)8-$ %,1)#"%-%+ 2 + 0)/& "-4n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n")-$ ,*),23 9%"2%+%2!.01$%02, ">3 3!11 33-$,)!#$)!-31$))0%"#."2%".2!0-0%8 %31,%-%1.00.88 126-$ / ."2=!.0%-)8 0 .,"%"# 7/ ,% "1 3/,)+%2 22!,%"#-$ /, 31$))0 .,3411),2%"#-)1 )3-6 8%-.".03%3 BC9/, 31$))0.-"2."1 $.33$),-."20)"#,&/)3%-%+ 88 1-3)". +.,% -)8.1.2 &%1 ."23)1%.01)&/ "1% 393!1$.3 2!1.-%)".0.1$% + & "-."2 1)")&%1* 006 % "#%"-) .2!0-$))2B ")023M &/0 9DC4n"2 -.%09/, 31$))0/,)#,.&30 .2-).0. ,# 2!1-%)"%" #,.2 "-%)"93/ 1%.0 2!1.-%)"/0.1 & "-9."2$%#$31$))02,)/)!-,.34$!3 9/, 31$))0 /,)#,.&31)"-,%6!-), 2!1%"#-$ 28),8!-!, & 2%.031$))03 ,+%1 3%"10 !2%"#3/ 1%.0 2!1.-%)"."2#,.2 "-%)".3* 00.31)3-38),.2&%"%3-,.-%)"."2/,)1 33 %"#)81,%& 1.3 3), %"1.,1 ,.-%)"6/, /.,%"#/, 31$))0#,.2!.38),0 332 0%"=! "1 ."28 ,.,, 3-3%" .2!0-$))24n"/.,-%1!0.,9$%#$=!.0%-1$%021., /)3%-%+ 0.88 1-3-$ 2 + 0)/& "-.0)!-1)& 3)8 .-,%351$%02, "."2%30%5 0-)$.+ .0.3-%"#%&/.1-)".1.2 &%1/ 8),&."1 )8-$ 1$%02, "4 $%3%36 1.!3 $%#$=!.0%-1$%021., .00)*3.-,%351$%02, "-)$.+ ")//),-!"%--)&.5 !/

PAGE 33

'' 8),-$ %,/)),0 .,"%"# 7/ ,% "1 3, 3!0-%"#8,)&-$ %,/)),$)& "+%, )"& "-39 + "-$)!#$ $%#$=!.0%-1$%021., 2) 3")-2%, 1-00 .2-)1$%02, ">3/)3%-%+ 2 + 0)/ & "-.0)!-1)& 34), 7.&/0 9$%#$=!.0%-1$%021., 1."$ 0/ -$"%1&%"),%-1$%02, "-)2 + 0 )/2%88 "-35%003-) $."20 -$ 1!,, "-."2!"/, 2%1-.60 /,)60 &3, 3!0-%"#8,)&,.1%3&),2%31 ,%&%".-%)"%"-$ 3)1% -.3* 00.3-), %"8),1 -$ %,,.1%.0."2/ ,3)".0%2 "-%-% 3B ;)$"3)"9;. # ,9."2)0/$9 .!3 9(.,29Mrn.,0$%02., 3 .,1$r -*),59'C43., 3!0-9 /, 5%"2 ,#.,"/,)#,.&3., ,))2%"-$ ")-%)"-$.-/, 31$))0/,)#,.&3/0. ."%&/),-."-,)0 %" $ 0/%"#1$%02, 7/."2-$ %,2 + 0)/& "-.0)!-1)& 3-$,)!#$ ",%1$%"#0 ., "%"# 7/ ,% "1 3 ."29%"/.,-%1!0.,9$ 0/%"#2%3.2+."-.# 21$%02, ",31$))0.3* 00/, /., 2.3-$ %, .2+."-.# 2/ ,34 1$))0, .2%" 33" 23&!0-%2%& "3%)".03!//),-.3* 00.3-$ .6%0%-% 3)8 1$%02, -$ &3 0+ 393!1$.3.# .//,)/,%.&)-),35%0039 &)-%)".0."26 $.+%),.0, # !0.-%)"9.2!0-."2 / ,%",.1-%)"35%00391)&&!"%1.-%)"35%0039."21)#"%-%+ ."2.1.2 &%135% 003Br !&."M )35)39@LO%#0 ,9%00%.&9M;)" 39DC4$ &!0-%2%& "3%)".03!//),-%"10!2 38.&%0 3)!,1 30%5 #))2/$3%1.0."2& "-.0$ .0-$931$))0, 3)!,1 33!1$.3/, )8 33%)".0 2 + 0)/& "-8),.1$ ,39."21)&&!"%-, 3)!,1 3%"10!2%"#$%#$=!.0%-1$%021 ., BO%#0 ,9 %00%.&9M;)" 39DC4), 7.&/0 91$%02, ">30."#!.# ."21)#"%-%+ 35%003 9*$%1$., %&/),-."-/, 2%1-),3)8-$ %,31$))0, .2%" 339., 0%" .,0.33)1%.2 *%-$1$%021., =!.0%-9 %"10!2%"#.1$ ,1$%02%",.1-%)"34B!,1$%".09 %3" %"6 ,#9,. "-9M0%88),29L !,1$%".09)6 ,-39r.6),39M,."-9AADLrn.,0$%02., 3 .,1$r -*),59L rn.,0$%02., 3 .,1$r -*),59'Lrn.,0$%02., 3 .,1$r -*),59 ?.Lrn.,0$%02., 3 .,1$r -*),59?6Lrn.,0 $%02., 3 .,1$ r -*),5M!"1."9'L.,5 9?L %3" %"6 ,#9!,1$%".090%88),29!05%"9)* 39

PAGE 34

'? .#."9M.: <%."9C4$.-%3-)3.91., #%+ ,3>0."#!.# 3-%&!0.-%)" 3-,)"#0%"80! "1 3 1$%02, ">30."#!.# ."21)#"%-%+ 2 + 0)/& "-9."2$%#$=!.0%-1$%021., %30% 5 0-)/,)+%2 1$%02, "*%-$&), )//),-!"%-% 3-)+ ,6.00%",.1-*%-$1., #%+ ,34 )* + ,9G&), $%#$ =!.0%-1., 2) 3")-0 .2-)6 -,)!-1)& 3."2&), 0)*=!.0%-1., 2) 3 ")-0 .2-)*),3 )!-1)& 3%"."3%&/0 0%" .,*.9H."2 .,0."2 7"3%+ 1$%021., 9% "."2)8%-3 089%3" %-$ 2 0 ,%)!3"),.2+."-.# )!38),1$%02, ">31)#"%-%+ ."20."#!.# 2 + 0)/& "-B rn.,0 $%02., 3 .,1$r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rnn!rnrrnnn 5%"2 ,#.,"/,)#,.&3$.+ #,)*".3)" -/ )8 88 1-%+ /, 31$))0 /,)#,.&-) & --$ 31$))0, .2%" 33" 23)8.001$%02, "9."23-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3$.+ 6 1)& %"1, .3%"#01)&&)".1,)33-$ ".-%)"4 + ,.03-!2% 33$)*-$.-3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3/)3%-%+ 0.88 1-1$%02, ">32 + 0)/& "-.01)& / "1 9%"10!2%"#3)1%.09 0."#!.# 9."2.1.2 &%135%003B.," --9.&9M;!"#9@L%00%.&MO%#0 ,9L),&0 ;,49. ,9$%00%/39M.*3)"9@L),&0 ;,4M$%00%/39@L;.1)63)"9'L)* 39!,1$%".09%."-.9,."-90%88),29M.,6.,%"9L..,)9%."-.9M-!$0 &."9?L -.,5 90 %"9M(.5 0 9?C4.3 2)"1$%02, ">33-31), 39.3-!26 %00%.&."2O%#0 BC2 &)"3-,.3-$.-3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3$.+ .#, .88 1-)"

PAGE 35

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r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n".22%-%)"9%0 0%.&."2 O%#0 ,BC3.9Gn&/.1+.0!.-%)"3)83-.8!"2 2/, 31$))0/,)#,. &3+.,1)"3%2 ,.60%" -$ %,2)&.%"3)8%", 3-9 +.0!.-%)"& -$)2)0)#% 39."28%"2%"#3HB/4?D@C4), 7.&/0 93)&

PAGE 36

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r + ,-$ 0 3393 + .03-!2% 3/,)+%2 31% "-%8%1 +%2 "1 -$.-3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3/)3%-%+ 01)"-, %6!-)%&/,)+%"#-$ 0 .,"%"#."22 + 0)/& "-)8.-,%351$%02, ".3* 00.3)-$ ,1$%02, ."2%&/,)+%"#-$ %, /, /.,.-%)"8),-$ %"1, .3%"#0,%#),)!31$.00 "# 3)85%"2 ,#.,"4 rnn!rnrrnnn %,3-93-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3"2-)8)1!3)"1$%02, ">31 )#"%-%+ 2 + 0)/& "-,.-$ ,-$."-$ *$)0 )81$%021$.,.1,%3-%131)"3%2 2 33 "-%.08),3!11 338!0 31$))0, .2%" 3390%5 3 08, #!0.-),35%003B,."1%39DLr !&."9'C4n" /.,-%1!0.,9,."1%3 BDC/)%"-3)!--$.--$ /,)#,.&3$ 0/1$%02, "%"1, .3 -$ %,, .2%"#."2&.$ &.-%1335%003.31$))0 "-,96!--$ /,)#,.&36))3-1$%02, ">310.33,))&6 $.+%),.0/,) 60 &393!1$.38%#$-%"#9 .,#!%"#9),2%3-!,6%"#)-$ ,39."2, 2!1 -$ %,3 081)"-,)093!1$.31)"-,)00%"# -$ %,&/ ,9 .11 /-%"#/ ,%2 .38),#,)!/.1-%+%-% 39),, 3/)"2%"#-)/ ,/, 33!, %".".//,)/,%.*.4 $ 3 #.-%+ 6 $.+%),.0 88 1-31)"-%"! !"-%0-$ 3/,%"#)88%,3-#,. 2 9*$%0 -$ /)3%-%+ 88 1-3)8-$ /,)#,.&3)"35%0030.,# 02%33%/.4n"8.1-9-$ 3 #.-%+ 6 $.+%),3., 0%5 0-) 2)3)& 2.&.# -)-$ %,.1.2 &%1.1$% + & "-%"0., .,396 1.!3 3)1%.00" #.-%+ 6 $.+%),3%"10.33,))&3., .33)1%.2*%-$/)), ,.--%-!2 -)*.,20 .,"% "#."20)*

PAGE 37

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r !&."M)35)39@C4n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n"/.,-%1!0.,98)!, ,)023., 7/ 00 2.-.,.

PAGE 38

' .6)!-4@-%& 3#, .,-$."-$, .,)023L6)3., 7/ 00 2..,.)+ ,?4@-%& 3-$.-)8 #%,03L."28,%1."& ,%1."1$%02, "*$).-"23-.8!"2 2/, 5%"2 #.,"/,)#,.&3., .6)!--*%1 .30%5 0-)6 7/ 00 2.3.-%")."2.!1.3%."1$%02, "4 $ 0)* 37/!03%)",.3 ., /),26-$ .1$ ,3-$.-$.+ .")"#)%"#9, #!0.,, 0.-%)"3$%/ *%-$.& "-.0$ .0-$ 1)"3!0-."-9*$)%3.60 -)/,)+%2 10.33,))&6.3 23-,.#% 38),2 .0%"# *%-$1$.00 "#%"# 1$%02, "6 $.+%),34n")-$ ,*),239-$ $%#$ 7/!03%)",.3., 1.!3 26-$ 3/ 1%.01)"2%-%)"3 )8 .1$/, 5%"2 ,#.,"10.33,))&),.1$ ,3>3!6< 1-%+ 32 #, L8)!,3-.3 =!%, .-*) .,1)00 # 2 #, L 0 + "3-.3, =!%, .$%02 + 0) /& "-33)1%.3 1, 2 "-%.0L."2.0%8),"%., =!%, 3-* "-8)!,1, 2%-3, 0.2-) ,01$%02$))2 2!1.-%)" Br.-%)".0, 5%"2 ,#.," ",9?C4n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

PAGE 39

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r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n"8.1-9.1$ ,3

PAGE 40

? *$)., &), 2!1.2., /.%2&), ."2., 0%5 0-)3-..--$ %,<)63 0)"# ,-$."-$)3 *$) ., 0 33 2!1.2."2/.%20 33Br.-%)".0, 5%"2 ,#.," ",9?C4$!39$ 0%"56 -* *.# 3."2-!,")+ ,%3!"2 ,3-."2.60 ."2!"2 "%.60 6 1.!3 6 -,*.# 3."26 8%-3, 2!1 .1$ ,-!,")+ ,4)-$*.# 3."2-!,")+ ,., 10 .,0.33)1%.2*%-$/,)#, .&=!.0%-."21$%02 2 + 0)/& "-3%"1 #))2/,)#,.&3., 1$.,.1,%: 263&.00 ,#,)!/ 3%: 390)* ,.1$ ,1$%02 ,.-%)39&), 3 1!, .1$ ,1$%02%",.1-%)"39."2&), 2!1.-%)".0.1-%+% -% 34 %".009-$ /)/!0.-%)")8/, 5%"2 ,#.,".1$ ,3%3")-" .,0.32%+ ,3 .3-$ /)/!0.-%)")81$%02, "%"3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&3L8), 7 .&/0 9??J)81$%02, ., 0.15),.-%")96!-
PAGE 41

? /, 5%"2 ,#.,".1$ ,3%"10!2 -,.%"%"#%"!"2 ,3-."2%"#98.1%0%-.-%"#9. "2.33 33%"#1$%02, ">3 3 1)"20."#!.# .1=!%3%-%)"9."2-$ ., 8 *=!.0%8% 2.1$ ,3*$)3/ 5-$ 2%88 "0."#!.# 3!3 261$%02, "8,)&&."2%88 "-1!0-!, 34$%3%"2%1.3 -$.-/, 5%"2 ,#.," .1$ ,3$.+ 2%88%1!0-%" 88 1-%+ 0.22, 33%"#1$%02, ">32%+ ,3 1!0!,.0."20%"#!%3-%1" 23 *%-$.*%2 ,."# )8 7/ ,% "1 3."235%003.3* 00.3%"6 %"#1)&/ "-), 3 "3%-%+ -) &!0-%0%"#!.0I&!0-%1!0-!,.0%33! 34 'nr rnrn'n'n!rnn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n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

PAGE 42

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n"-$ 1 .3 )8)* 3>8%+ .,0)"#%-!2%".0 3-!2BC9.1$ ,3# ,.006 0% + -$.--$ 3 1)"2#,.2 1$%0 2, "*$)3$)*0 33.##, 33%+ ."22%3,!/-%+ 6 $.+%),3*%-$/ ,3"2-)5 /10)3 ,.1$ ,1$%02%",.1-%)"39."21$%02, *$)$.+ $%#$6 $.+%),.0/,)60 &3."20)*.1$ ,1$%0210)3 33%"/, 3 1$))010.33,))&3., &), 0%5 0-)3$)*$%#$.##, 33%+ 6 $.+%),3*%-$/ ,3."20)*.1$ ,1 $%0210)3 33.3 3 1)"2#,.2 ,343-!260."5 & ,90."" ,9."2.:3)"%BC.0 3)2 &)"3-,.3-$.1$%02, "*$)$%#$0+.0! -$ .1$ ,1$%02%",.1-%)"3., 0 330%5 0-) 6 $.+ .##, 33%+ 0 ."2&), 0%5 0-)3$)*-$ %,3)1%.01)&/ "1 4 3/ 1%.00%"1$%021., 3 --%"#39/)3%-%+ .1$ ,1$%02%",.1-% )"3 "1)!,.# 1$%02, "-) /.,-%1%/.%"2%88 "-1))/ ,.-%+ .1-%+%-% 3%"10.33,))&3.3* 00.3-).1-%+ 0.11)&/0%3$-$ %, 0 .,"%"#.-31$))0B( 63,-,.--)"9AAAC4."20.,# 91$%02, "%"1$%021., 3 --%"#35 / 2%88 "-/.-,"3)8%",.1-%)"3*%-$2%88 "-.1$ ,3B)* 3M% -1$% 9C4$.-%3-)3.9

PAGE 43

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n"

PAGE 44

?? .22%-%)"9%."-.."2-!$0&."B?C &/$.3%: -$.-.1$ ,1$%02%",.1-%)"3.8 8 1-1$%02, ">3 .6%0%-% 3-).1=!%, -$ 1 33.,35%0038),31$))03!11 33."2., 3-,)" #0.33)1%.2*%-$ 1$."# 3%" .1$1$%02>3.1=!%,%"#3)1%.0."2.1.2 &%135%0034n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nn 'nr rn %,3-)8.009-$ =!.0%-)8.1$ ,1$%02%",.1-%)"3%3%"80! "1 263 + ,.08.1-),39 %"10!2%"#10.333%: 9.1$ ,1$%02,.-%)9."2.1$ ,3>/ ,1 /-%)"3.6)!.1$ ,1$%02 %",.1-%)"34n"-$ 1.3 )810.333%: ."2.1$ ,1$%02,.-%)9&."3!2% 33$)*-$.-.1$ 1$%02%",.1-%)"3., &), 7"3%+ ."2/ ,3)".0%: 2%"3&.00 ,10.33 39."2/ ,%",.1-%)"3 ., &), 7"3%+ ."2/ ,3)".0%: 2%"0.,# ,10.33 3B0.-1$8),29'L)"-)3 -.049AA@L r.-%)".0%"3-%-!)81$%02$ .0-$."2$!&."2 + 0)/& "-9.,01$%021., 3 .,1$" -*),59 L-%/ 59?L(0% M$)&/3)"9'C4n".22%-%)"9.0)*.1$ ,1$%02,.-%)0 .23 -)-$ 10.33,))&3-$.-/,)+%2 &), &)-%)".03!//),-L1$%02, "%"-$ 3 10.33,))& 3 "#.# %"

PAGE 45

?@ .1.2 &%1.1-%+%-% 3&), .1-%+ 0."2%",.1-*%-$/ ,3&), / )3%-%+ 0Br.-%)".0n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n"-$ 1.3 )86))5, .2%"#.3. #,)!/.1-%+%-9.")63 ,+.-%)".03-!26%15%"3)"B6C3$)*3-$.-. 1$ ,3&.%"0%",.1*%-$1$%02, "8),-$ /!,/)3 )8%"3-,!1-%)"98), 7.&/0 9G.35%"#1$%02, "-)."29-.5%"#3/3 -)1)"-,)0-$ %,6 $.+%),9 +.0!.-%"#1$%02, ">3, 3/)"3 39."29*$ "" 1 33., 91),, 1-%"#-$ %, %"1),, 1-, 3/)"3 3HB/4?EC4$.-%3-)3.9.1$ ,3-/%1.00%",. 1-*%-$1$%02, "%"6))5

PAGE 46

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n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

PAGE 47

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

PAGE 48

? ., 10)3 0.33)1%.2*%-$1$%02, ">30 .,"%"#."22 + 0)/& "-."2/0 .."%&/),-."-,)0 %" /, 2%1-%"#$)*3 "3%-%+ 0-$ "+%,)"& "-3-%&!0.31$%02, "-)0 .,"4 3., 3!0-9.1$ ,3 2%88 "-0-.05-)1$%02, ".11),2%"#-)10.33,))&.1-%+%-3 --%"#39 + -$)!#$-$ # ,.00 !3 .1 ,-.%"8.&%0%.,3-0 )83/ 1$&)2 3."20."#!.# /.-,"34 *rnr rn+rn nrn'rnn ,)&-$ -$ ), -%1.0),% "-.-%)")81,%-%1.0-$ ),."2/)3-&)2 ,"%3&9.1$ ,1$%02 %",.1-%)"3%"1$%021., 3 --%"#32 &)"3-,.!"%0.,.01$.,.1,% 3-%13, 3!0-%"#8,)&.1$ .!-$),%-)+ ,1$%02, "9."2-$ !"%0.,.0.1$ ,1$%02%",.1-%)"3%"1$%021. 3 --%"#3 #.-%+ 0%"80! "1 1$%02, ">32 + 0)/& "-.0)!-1)& 34n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

PAGE 49

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

PAGE 50

@ 61., #%+ ,3.00)*31., #%+ ,3-) 7 ,1%3 #.-%+ /)* ,9*$%1$ 8 ,3-)G-$ *.3-$ 1)"-,)09/!"%3$9."2%#"), 1$%02, "H%"),2 ,-)3%&/01)&/ 01$%02, ">33!,8.1 6 $.+%),3B/4 D@C4 n"1)"10!3%)"9-$ %",.1-%)"6 -* ".1$ ,3."21$%02, "9.3.".1-%+%%"*$%1$-$ %",/, .1$)-$ ,>3%""-%)"3.3* 00.3.2%31)!,3 3 -*%-$%".6,).2 ,1)"7-9, 80 1-3-$ .1$ ,>32)&%"."-/)3%-%)")+ ,-$ 1$%02B%3$ ,9@C4$.-%3-)3.9.1 $ ,3., 1)"3%2 2 7/ ,-3G/)33 33%"#5")*0 2# )8."238 0%"#3."2-$)!#$-3.11),2%"#-)-$ %,+.0! 3."2 %2 )0)#% 392 ,&%" -$ =!.0%-)81$%02, ">3*),59."28),1 1$%02, "-)-$%"5."26 $.+ .11),2%"#-)-$ ,!0 3."23-."2.,23-$ 7/ 1-4)* + ,91$%02, "., ., 0%"+)0+ 2%"G-$ 1, .-%)")8#).039)6< 1-%+ 39."2 7/ 1-.-%)"3)8-$ 1)!,3 HB, !"%#9@9/4@C93 / "2%"# &)3-)8-$ %,-%& 1.,,%"#)!-31$))0-.353*$%1$.00)*-$ &-)8%"2."2#%+ ,%#$."3* ,3-$ -$%"5-$ .1$ ,*."-3B.02 ,$ .29'C43., 3!0-9-$,)!#$-$ 8),&.01!,,%1!0 ..3* 00.3 -$ 3)1%.0%",.1-%)"3*%-$1$%02, "%"10.33,))&39.1$ ,3 7 ,1%3 !"% 0.,.0.1$ ,.!-$),%)+ ,-$ %,1$%02, "%"),2 ,-)8),1 -$ 1$%02, "-)/.33%+ 00 .,"*$.-$ *."--$ %,1$%02, -)5")*4$%3!" =!.0%",.1-%)"6 -* ".1$ ,3."21$%02, "%3, / .20/, )2!1 24$%3%3 6 1.!3 /)* ,%3 &6 22 2%"2%31)!,3 3."2%3 7 ,1%3 29, /,)2!1 29& 2% .29."2, 3%32

PAGE 51

@ -$,)!#$2%31)!,3 3-$.-1)"+ -$ 3/ 1%8%1" 239/,)60 &39."21)"1 ,"3)8 + ,2.0%8 9.3 00.3, /, 3 "-."%2 )0)#%1.03-,!1-!, 0.2-)/.,-%1!0., %", 3-3."23)1%.0, 0.-%)"34 'nnn*rnr rn+rn nrn' rnn %,3-)8.009.1$ ,3-$ &3 0+ 3., G2)& 3-%1.26-$ %,)*"31$))0% "#HB-)5 39AAE9 /4?C9*$%1$8),1 33-!2 "-3-)8)00)*G")-.05%"#,!0 3H.002.0)"#9*$%1$0 .2-) -$ .63 "1 )83 08 7/, 33%)"B."5%"39AAA9/4D?C4-!2 "-3., "1)!,.# 2-)3%."20%3",.-$ -$."3/ .59.3* 00.3-)3%&/0)6-.%"./% 1 )8%"8),&.-%)"-$.-$.3.0 .26 "2%31)+ 2 ."21.#),%: 26 7/ ,-3B%"1$ 9C4$!393-!2 "-3*$)., .11!3-) & 2-)G-$ 6)"2)8 3$., 23%0 "1 3H2)")7/, 33-$ %,)*" 7/ ,% "1 3B."5%"39AAA9/4D?C4n-%3$., 20 3!,/,%3%"#-$.--$%3 7/ ,% "1 8),1 33-!2 "-.1$ ,3-)G6 /.33% + 91)"8),&%"#9.!-$),%-.-%+ 9 %"80 7%60 9!"%&.#%".-%+ 9./)0%-%1.09."23%0 "-H%"31$))039%"10!2%"#1)00 # 3)8 2!1.-%)" B%"1$ 99/4'?C9.3* 00.3-)0 .,"-$ 1!0-!,.0+.0! 33&-$.-G-$ %,* ),5%38.,0 33 %&/),-."--$."-$.-)82)1-),39)80.* ,3N."2 + "96 $.+%),3B/4C4n"3!&&.,9.1 $ ,3-$ &3 0+ 3., -.!#$-.6)2)85")*0 2# 9*$%1$%3#!.,."26-$ .!-$),%-."2/)* ,)831$))039-$,)!#$

PAGE 52

@ -$ /,)1 33)86 %"#3%0 "1 29."2-$ 8),1 -$ %,1$%02, "-)0 .,"6)$3!1$5")*0 2# ."2-$ /,)1 33)85")*%"#-$,)!#$-$ !"%0.,.0%",.1-%)"36 -* "-$ &3 0+ 3."21$%02, ".3* 00 .32%88 "-, #!0.-%)"33!1$.3/!"%3$& "-9.33 33& "-9/,)&)-%)"9."2#,.2!.-% )"4 1)"29.1$ ,3., /)* ,0 33.#.%"3--$ 2)&%"."-%2 )0)#%"10.33,))&39*$% 1$, 8 ,3 -)G/.-,"3)86 0% 83."2+.0! 33$., 26-$ &.<),%-)8%"2%+%2!.03HB 1., "9AA9/4C4 $ 2)&%"."-%2 )0)#%"10.33,))&32 ,&%" 3*$.-5")*0 2# %3*),-$-$ &)3-),* $.-%& ."3-)5")*3)& -$%"#L3/ 1%8%1.009-$ 2)&%"."-%2 )0)#2 ,&%" 3*$.6))53.1$ ,3 &.!3 ),*$.-+.0! 3."26 0% 83.1$ ,33$)!02-,."3&%--)-$ %,3-!2 "-3B !"%#9@L 1., "9AAC43/ 1%.00%"-$ "%2-.39-$ *$%3)1% ->3*.3 )8G-$%"5%"#90%+%"#9 ."2, 0.-%"#*%-$/ )/0 )81)0),H., 1)"3%2 2.3-."2.,28),G*$.%3,%#$-9*$.-%3#))29."2 *$.-%3-,! HB1n"-, 9AAE9/4'@C9."231$))03, *.,2."2, %"8),1 G-$ "),&393-."2., 239 ."2 2!1.-%)".0&)2 033 -6*$%.1.2 &%13."2%"3-%-!-%)"3H-$,)!#$2%+ ,3 1$"%=! 3)8 "),&.0%:%"#93!1$.3)63 ,+.-%)"9& .3!, & "-910.33%8%1.-%)"9, #!0.-% )"9."2.33 33& "B1n"-, 9AAE9/4'C43-!26%-0%"BC3$)*3-$.-.1$ ,3!"2 ,!-%0%: -$ %, .!-)")&6 1.!3 )8-$ 3-.1), 1!,,%1!0!&97-6))539."2/, /.15.# 21!, ,%1!0.9."2-$ 3 0%&%--$ %,.6%0%-% 3-)G.1-)"."2 + "-,."38),&/ 2.#)#%1.0, 0.-%)"3 98),&3)80 #%-%&.5")*0 2# 9."21!0-!,.01.")"3HB/4@?C4), )+ ,93%"1 .1$ ,3$.+ 0)-3)8G10 5%"#-/ -.353H0%5 #,.2%"#/,.1-%1 32!,%"#-$ 31$))02.9-$ 2)")-$.+ -%& -))6-. %"G."%"-%&.5")*0 2# )8-$ %,3-!2 "-3H."21."")-$ 0/6!-, / .-G.2 8 "3%+ 98.1-),% "21!,,%1!0!&H B/4@?C4n"3$),-9-$ .1$ ,3>*),56 1)& 31$.,.1,%: 2.3.2 35%00%"# <)6-$,)!#$G-%#$, &.".# & "-1)"-,)0."2/.15.# 21!,,%1!0.HB)"" 009AA?C9."2/, + "-3.1$ 38,)& 3//%"#6.158,)&-$ %,10.33,))&/,.1-%1 3."21)"3%2 ,%"#6,).2 2!1.-%)".01)"1 ,"3), &/0)%"#.&), $)0%3-%1+% *)8.1$%"#B%-0%"9C43., 3!0-9-$ .1$ ,3>

PAGE 53

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n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n"-$ 1.3 )81$%021., 3 --%"#39.1$ ,3., )8" 710!2 28,)&2 1%3%)"&.5%"#/,)1 33 398), 7.&/0 92 1%2%"#)"$)*&." %"8."-3-$ 1., #%+ ,3*%006 3/)"3%60 8),B .+%--9AA?C403)9.1$ ,3%",.1-*%-$/., "-33)& *$.-

PAGE 54

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n"3.29.1$ ,3., ./-)5 /-$ !"%0.,.0 %",.1-%)"36 -* "-$ &3 0+ 3."21$%02, "9.3-$ ., .11!3-)& 2-) -$ 3-,!1-!, )8 2)&%".-%)".0, .2 7%3-%"#%"31$))034 nnn*rnr rn+rn nrn' rnn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

PAGE 55

@@ .1$ ,3!-,."2-)0 .,"5")*0 2# *$%1$1)"3-%-!3G*$.-%3-.5 "-)6 -,! H ,.-$ ,-$." 5")*0 2# *$%1$.!-$ "-%1.00, + .03."2, /, 3 "-3-$ .0*),02B3$ ,M2*.,239AA?9/4 EC4n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r>3Br.-%)". 033)1%.-%)"8),

PAGE 56

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

PAGE 57

@E )81$%02, "H, 3!0-38,)&-$ %,)*"8 0%"#3."2& &),% 3)8-$ %,1$%02$))29),.1$ ,3G!3 )"0-$ %,)*" 7/ ,% "1 3.3-$ $.00&.,538),-$ 7/ ,% "1 3)8)-$ 3HB)*&."M-)--9 AA?9/4C4n"-$ "29-$ 2)&%"."-2%31)!,3 ."2/,.1-%1 3%"-,.2%-%)".010.33,))&30% 5 G.1$ ,-.059, .2%"#-$ ,%)-.1-9."2-$ 0.3-*),2H.00)*.1$ ,3) .3%0 7 ,1%3 !"%0.,.0 .1$ ,.!-$),%-)+ ,1$%02, "."2-)/, + "-1$%02, "8,)&6!%02%"#)"%"00 1-!.01!,%)3%-.3 00.38,)&/!,3!%"#-$ %,%"=!%,% 3%"2%88 "-*.3B$),9AA9/4'C4 !nn $ /.3--* ".,3$.+ 3 ".")-.60 #,)*-$%"."!"2 ,3-."2%"#)8-$ ".!, )8 .1$ ,1$%02%",.1-%)"3%"1$%021., 3 --%"#39%"10!2%"#-$ /, 1!,3),39 1)"1)&%-."-39."2 )!-1)& 3, 0.2-)-$ =!.0%-)8.1$ ,1$%02%",.1-%)"34n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

PAGE 58

@ %",.1-%)"36/,)+%2%"#.*$)0 /%1-!, )8.1$ ,1$%02%",.1-%)"3* %-$%".3/ 1%8%11)"7%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%021., 3 --%"#3!3%"#=!.0% -.-%+ 3 .,1$& -$)234 n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n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

PAGE 59

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

PAGE 60

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

PAGE 61

D r $%3%3.=!.0%-.-%+ 3 .,1$/,)< 1--$.-!3 2%",+% *3."2)63 ,+ .-%)"3%"-$, .1$ ,3>*),5/0.1 39%"),2 ,-)%"+ 3-%#.6.,,% ,3-)."28.1%0%.-),3)8 88 1-%+ .1$ ,1$%02 %",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 9%"+)0!"-.,/, 5% "2 ,#.,"/,)#,.&3%" 1$%021., 3 --%"#34n"-$%3, 3 .,1$/,)< 1--$ & -$)23)8%"2 /-$% ",+% *%"#."2/.,-%1%/.")63 ,+.-%)"., 1)"3%2 2-$ &)388 1-%+ *.3-)1)00 1-2.-.93%"1 -$ & -$)23 ".60 -$%3 3-!2-)2 31,%6 *$.-%3, .00$.// "%"#68)1!3%"#)"-$ -$, .1 $ ,3>6 $.+%),."2 3/ 1$%"-$ %,10.33,))&34n"),2 ,-) "$."1 %",".0+.0%2%-9, 0%.6% 0%-9# ,.0%:.6%0%-9."2 -,!3-*),-$%" 339n!3 2."!&6 ,)83-,.#% 39%"10!2%"#G& &6 ,1$ 153 9H*$%1$, 8 ,3-) -.5%"#2.-.."2"-.-%+ %",/, -.-%)"36.15-)-$ / )/0 8,)&*$)&-$ ., 2 ,%+ 2."2 .35%"#-$ &*$ -$ ,),")--$ %",/, -.-%)"3., /0.!3%60 B ,,%.& 9AA9/4?C4 r + ,-$ 0 339-$%3=!.0%-.-%+ 3 .,1$/,)< 1-3$)*33 + ,.00%&% -.-%)"3, 3!0-%"#8,)&-$ # ,.01$.,.1,%3-%13)8=!.0%-.-%+ 3 .,1$."2-$ !"%=! 8 .-!, 3)8-$%3, 3 .,1$/,)< 1-4n" -$%31$./,n*%00 7/0.%"-$ !"%=! 1$.,.1,%3-%13)8=!.0%-.-%+ 3 .,1$."2$)** 00-$ 3 1$.,.1,%3-%138%--$ /!,/)3 )8-$%3, 3 .,1$/,)< 1-4n*%00 2 31,%6 -$ -$, /.,-%1%/."-3*$) 3 0 12.11),2%"#-)-$ /.,-%1!0.,1,%,%.-$.-1)!023 ,+ -$ /!,/)3 )8-$%3, 3 .,1$ /,)< 1-403)9n*%00#%+ 2 -.%03.6)!--$ & -$)23)81)00 1-%"#."2. ".0:%"#-$ 2.-..3* 00.3 &."3-,.#% 3!3 2-)%"1, .3 -$ -,!3-*),-$%" 33)8-$%3, 3 .,1$/ ,)< 1-4%".009n*%00 /, 3 "-3 + ,.00%&%-.-%)"3)8-$%33-!2%",&3)8%",".0+.0%2%-9, 0 %.6%0%-9# ,.0%:.6%0%-9 ."2-,!3-*),-$%" 334 $&n# n,nn 11),2%"#-))#2."."2%50 "B'C9=!.0%-.-%+ 3 .,1$$.3-$ 8)00) *%"#8%+ 8 .-!, 3".-!,.0%3-%11$.,.1,92 31,%/-%+ 2.-.91)"1 ,"*%-$/, )1 339%"2!1-%+ & -$)29."2

PAGE 62

D & ."%"#4$.-%3-)3.9=!.0%-.-%+ 3 .,1$%3.0*.31)"2!12%".1-!.03 --%"#3-$.-., 1)"3%2 2-$ 2%, 1-3)!,1 )82.-.."2%"10!2 -$ 1)"1, 2.-.1)00 128 ,)&$!&."3)!,1 34 !.0%-.-%+ 2.-.1)"3%3-)8-$ 8),&3)8*),23),/%1-!, 3)6-.%" 28,)& %",+% *3."2 )63 ,+.-%)"398), 7.&/0 92%, 1-=!)-.-%)"3.6)!-/ )/0 >3 7/ ,% "1 39)/%"%)"39."28 0%"#39 ."22 -.%0 22 31,%/-%)"3)8/ )/0 >3.1-%+%-% 3."26 $.+%),3403)9=!.0% -.-%+ 3 .,1$ ,3., 1)"1 ," 2*%-$/,)1 33,.-$ ,-$."3%&/0*%-$)!-1)& 3),/,)2!1-39.3* 0 0.3*%-$.3-.& "-$.-%2 "-%8% 3-$ /$ ")& ")"-)6 3-!2% 24n")-$ ,*),239=!.0%-.-%+ 3 .,1 $2) 3")-3 .,1$ )!-2.-.), +%2 "1 -)/,)+ ),2%3/,)+ $/)-$ 3 3.6)!--$ 0.-%)"3$%/36 -* ". 2 / "2 "-+.,%.60 ."2."%"2 / "2 "-+.,%.60 9.3%31)&&)"%"=!."-%-.-%+ 3-!2% 3 B-,.!33M ),6%"9AAC40%3"%"#-)*$.-)-$ ,33.9)63 ,+%"#*$.-)-$ ,32)9."2, /, 3 "%"#-$ 3 .3.11!,.0.3/)33%60 9=!.0%-.-%+ 3 .,1$ ,3., %", 32%"*$.-%3#)%"#)"%"-$ $ ."2 ")*9.3* 00.33/ 1%.00*."--)5")*.6)!-$!&."3!6< 1-3%"-$ .1-!.03 --%"# 34$!39 =!.0%-.-%+ 3 .,1$ ,3., 8!"2.& "-.001)"1 ," 2*%-$-$ & ."%"#)8 -$ + "-3."2 $.// "%"#3%"2.-.9."2-,-)3 6 .-$-$ )6+%)!3-)2%31)+ ,-$ *6&.5%"# 1)&/.,%3)"39#)%"#)!-."21)00 1-%"#&), 2.-.9."2.35%"#=! 3-%)"398), 7.&/0 9G )*2) / )/0 #)-%.& ."%"#PH),G)*2)1 ,-.%",&3."20.6 031)& -)6 ./ /0% 2PH 38),-$ ".-!,.0%3-%11$.,.1,)8=!.0%-.-%+ 3 .,1$9%"1)0"."2! 6.BA@C3.-$.".-!,.0%3-%1%"=!%,.0*.3-.5 3/0.1 %".".-!,.03 --%"#6 1 .!3 1)"7-%32 /0, 0.2-) & ."%"#4!1$.1)"7-!.0%"=!%,, =!%, 3."%"3-,!& "--$.-1."-.5 .11)!"-)8. 008.1-),3 ."2%"80! "1 3%"-$ 1)"7-,.-$ ,-$."/.%"#.-"-%)"-)3)& +.,%.60 3 )8%", 3-4$!39. $!&."%"3-,!& "-%3!3 2%"-$ ".-!,.03 --%"#93%"1 -$ $!&."%"3-,!& "-1."6 8!00 .2./2 -)-$ G%"2 ,&%".3%-!.-%)"-$.-*%006 "1)!", 2H6!3%"#2%88 "-& -$)23-$.-., G.//,)/,%.-)$!&."0%&/0 & "2%"=!%,9H3!1$.3%",+% *3."2)63 ,+.-%)"3B%"1)0"M

PAGE 63

D' !6.9A@9/4EC4n")-$ ,*),239-$ G$!&.".3%"3-,!& "-H%3/,%&.,%0 6.3 2)"-$ ")-%)" -$.-G + ,-$%"#%3 H%".".-!,.03 --%"#."2)"0-$ $!&."%"3-,!& "-%3.60 -) 2 .0*%-$."%"2 ,&%".3%-!.-%)"B/4A'C438),-$ 1$.,.1,%3-%13)8-$ G$!& .".3 %"3-,!& "-9H%"1)0"."2!6.BA@C0%3--$ 8)00)*%"#3 + 0 & "-3B C nnrnn -$ G$!&.".3%"3-,!& "-H1.", .1--).00/ ,3)".0."2 "+%,)"& "-.01)"7-3 BC -$ G$!&.".3%"3-,!& "-H1."1)00 1-.+.,% -)82.-.-$,)!#$2%88 "-& -$)23.--$ 3.& -%& B'C nnn -$ G$!&.".3%"3-,!& "-H%3)"01./.60 )83 %"#." /$ ")& ")"."2%-33!,,)!"2%"#1)"7-%")" +% B?C nn -$ G$!&.".3%"3-,!& "-H%3.60 -)!3 -$ 5")*0 2# )86)-$, .3)"."2#)33% /.3* 00.3-$ 5")*0 2# #.%" 28,)& 7/ ,% "1 *%-$)6< 1-3."2 + "-3 B@C nn -$ G$!&.".3%"3-,!& "-H%31./.60 )8$."20%"#2.-..33))".3-$ 6 1)& .+. %0.60 91, .-%"# $/)-$ 3 3)"-$ 3/)-9."2 7.&%"%"#-$)3 $/)-$ 3 3%"-$ 1)"7-%"*$%1$-$ 1, .2 BDC nn )"0-$ G$!&.".3%"3-,!& "-H1." 3!&&.,%: 2.-.."2$.+ "-.-%+ %",/, -.-%)"3),1)"10!3%)"3326 -$ / )/0 8,)& *$)&-$ ., 2 ,%+ 28),10.,%8%1.-%)"9, 1-%8%1.-%)"9."2%""3%8%1.%)" ."2BEC nnnn -$ G$!&.".3%"3-,!& "-H1."%"+ 3-%#..-/%1.0 ."2%2%)3"1,.-%1, 3/)"3 3%"),2 ,-) 7.&%" -$ %,+.0%2%-."2-)&), 2 / 0!"2 ,3-."2 -$ &-$,)!#$2%88 "-/)%"-3)8+% *B//4A'A?C4 n"/.,-%1!0.,9*.""."2,.--B'C& "-%)"-$.--$ /!,/)3 )8 2!1.-%)".0, 3 .,1$%3 -)%&/,)+ 2!1.-%)".0.1-%)"6%"8),&%"# 2!1.-%)".0
PAGE 64

D? /.,-%1%/."-3PHG) 3-$%3& ."*$.-%-.// .,3-)& ."PH),G, 3 ,1$ ,3)63 ,+%"#*$.-$ -$%"5-$ ., 0))5%"#.-PH$!39*.""."2,.--B'C &/$.3%: -$.2!1 .-%)".0 3 .,1$&!3-6 6.3 2)", 3/ 1-8),/ )/0 6/,)+%2%"#-$ &*%$%"8),&.-%)".6)!-*$.-%3 ."2*$.-%3")-$%1.0/,.1-%1 403)9%-3)!-1)& 3&!3-6 %&/),-."--)%", 32/,.1-%-%)" ,39 %"10!2%"#.1$ ,39/)0%1&.5 ,39/., "-39."20 .," ,393)-$.--$ 1." &/0)-$ &%"" ."21, .-%+ *.3%"),2 ,-)%&/,)+ 2!1.-%)".0/,.1-%1 4n".22%-%)"9." 2!1.%)".0, 3 .,1$ /),-&!3-6 & ."%"#8!0."2, .2.60 -)-$ +.,%)!3.!2% "1 362 &)"3-,. -%"#*$.-%3, .00 $.// "%"#-$,)!#$&!0-%/0 %"+ 3-%#.-),39&!0-%/0 3)!,1 3)82.-.9),&!0-%/ 0 & -$)239.3* 00 .3610.,%8%"#-$ 3 .,1$ ,>3.33!&/-%)"3),6%.3 343. 3!0-9-$ /),".60 3, .2 ,3-) 38%"2%"#3."21)"10!3%)"3."2-)2 ,&%" *$ -$ ,-$ 3 .,1$ ,>38%"2%"#38%--$ %,3%-!.-%)"3),")-4 n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

PAGE 65

D@ 3%-!.243., 3!0-9-$ ".-!,.0%3-%11$.,.1,%3-%13)8=!.0%-.-%+ 3 .,1$."2%-3$)0%3-%1 %",/, -.-%)")8$!&." 7/ ,% "1 ".60 2!1.-%)".0, 3 .,1$-)%&/,)+ 2!1.-%)".0/,.1-%1 -$,)!#$1,%-%1.0."233&.-%1%"=!%,4 $%3+% */)%"3/ 1%.008%-3* 00-$ /!,/)3 )8-$%3=!.0%-.-%+ 3 .,1$/,)< 1-N-) $ 0/.1$ ,38%"2*.3-) &/)* ,6)-$-$ &3 0+ 3."21$%02, "-$,)!#$ 88 1-%+ .1$ ,1$%02 %",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 96%"+ 3-%#.-% "#6.,,% ,3-)."28.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#, .&3%"1$%021., 3 --%"#34 $%3, 3 .,1$/,)< 1-%"+)0+ 2-$, .1$ ,3%"-$ 3-!2!3%"#=!.0%-.-% + 3 .,1$& -$)23L-$.%39-$ /.,-%1%/.2%"-*)8),&.0%",+% *39-$, %"8),&.0%",+% *3 9."2-$, )63 ,+.-%)"3 )810.33,))&34$%3/,)1 33)81)00 1-%"#2.-.%-3 08*.3+ ,& ."%"#8 !06 1.!3 -$ /,)1 33 #.+ -$ -$, .1$ ,3.")//),-!"%--), 80 1-)"$)*-$ %",.12*%-$1 $%02, "400)8 -$ &$.2") 7/ ,% "1 )8-$%"5%"#.6)!--$ -)/%1)8.1$ ,1$%02%",.1-%)"6 8), /.,-%1%/.-%"#%"-$ 3-!29."2-$!39-$ .60 -), 1)#"%: -$ %33! )8.1$ ,1$%02 %",.1-%)"-$,)!#$/.,-%1%/.-%)"%", / .2%",+% *3."2)63 ,+.%)"34$ 2.-.1)00 1-%)" /,)1 33.03)/,)+%2 23!88%1% "-%"8),&.-%)".6)!--$ .1$ ,3> 7/ ,% "1 39)/%"%)"39."2 8 0%"#39.3* 00.32 -.%0 22 31,%/-%)"3)8-$ %,.1-%+%-% 3."26 $.+%),34%"1 -$ 3 1)"1, 2.-.%"10!2 *$.-%3#)%"#)"%"-$ $ ."2")*9%", 32/,.1-%-%)" ,3., 60 -) &/0)-$ 2.-.%"1, .-%+ *.3-)%&/,)+ 2!1.-%)".0/,.1-%1 4 n"/.,-%1!0.,9-$%3, 3 .,1$/,)< 1-%"10!2 3G& &6 ,1$ 153HN-$ /,)1 33)8-.5%"#2.-. ."2"-.-%+ %",/, -.-%)"36.15-)-$ .1$ ,3."2.35%"#-$ &*$ -$ ,),")-$ %",/, -.-%)"3., /0.!3%60 4, .2%"#."2!"2 ,3-."2%"#-$ %",/, .-%)"39-$ -$, .1$ ,3 .*., )8$)*-$ %",.12*%-$1$%02, ".3* 00.3)8$)*-$ + "-3 ."2$.// "%"#3%" 2.-.* %",/, 24,.%3%"#-$ %,)/%"%)"3.6)!--$ %",/, -.-%)"3 9-$ .1$ ,3$.2."

PAGE 66

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rn!n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n 1$)3 .1,%,%)"3.&/0%"#3-,.#3%"1 -$ 3-,.#/,)+%2 2& *% -$.")//),-!"%--)8!00 7/0), -$ 1 "-,.0%33! 3)8-$%3=!.0%-.-%+ 3 .,1$/,)< 1-N6., ,% ,3-)."28.1%0%-.-),3)8

PAGE 67

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rn nn n"),2 ,-)%"+)0+ .1$ ,3*$)& --$ .6)+ 1,%,%.%"-$ 3-!29n2%, 1-0 +%3%2 3 + ,.01$%021., 1 ",3%".%" 3+%00 -$.-)88 2-$ /,)#,.& ."2& -33&2%, 1-),34 n 7/0.%" 2-$ /!,/)3 ."2/,)1 2!, 3)8-$%33-!2-)-$ &."2.35 2-$ &-), 1 )&& "2. .1$ ,*$)& --$ .6)+ 1,%,%.4" )8-$ 2%, 1-),3, < 12&, =! 393.%"#-$.--$ 3-!2*)!02, =!%, .1$ ,3-)3/ "2-))&!1$-%& ."2.1$ ,3&%#$-6 -%, 2)8 /.,-%1%/.-%)" %"-$ 3-!24")-$ ,2%, 1-),3.%2-$.-3$ 1)!02")-.00)*.1$ ,3-)2)-$%"#3)-$ -$." .1$%"#1$%02, "2!,%"#*),5%"#$)!,36 1.!3 3$ /.%28),-$ $)!,34)& 2%, 1-),3, 8!3 2 &, =! 3-93.%"#-$.-.1$ ,3* -))6!3-)/.,-%1%/.%"-$ 3 -!248,3 + ,.0+%3%-3-)

PAGE 68

D 1$%021., 1 ",39n8%".003 0 12-$, .1$ ,3-$.-& --$ 6)+ 1,%,%.."2%"+%2-$ &-) .".!2%)-./ 1),2%"#+%..0 -,)8%"+%-.-%)"."21)"3 "-8),&4 3n 7/ 128,)&-$ / ,3/ 1-%+ )8.1,%,%)"3.&/0%"#3-,.#9-$ -$, .1$ ,3 /,)+%2 2& *%-$.* .0-$)8%"8),&.-%)".6)!-6.,,% ,3-)."28.1%0%-.-),3)8 88 1-%+ .1$ 1$%02%",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 9.3* 00.33 + ,.033&.-%1), /,)#,.&&.-%18.1-),3-$.-%&/ 2 2 88 1-%+ .1$ ,1$%02%",.1-% )"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%021., 3 --%"#34n"/.,-%1!0.,93%"1 -$ .1$ ,3$.2&." 7/ ,% "1 3)8.1$%"#1$%02, "%"2%88 "-10.33,))&3 --%"#3)-$ ,-$. "10.33,))&39-$ .60 -)1)&/., -$ 1$.,.1,%3-%13)8-$ /,)#,.&*%-$$)3 )8)-$ ,/, 31$))0 /,)#,.&34$%3%"2%1.3-$.--$ %,3.# 3.3* 00.3 $)*-).1$ .1$1$%02.11),2%"#-)$%3),$ ,!"%=! / ,3)".0%-4n"/.,-%1!0.,93 %"1 &)3-)8 -$ 1$%02, "%"$ ,/, 5%"2 ,#.,"10.33,))&$.+ .-"2 2-$ 31$))0)+ ,)" .,93 $ ."2 &)3-)8-$ &$.2.0, .25")*" .1$)-$ ,6-$ -%& -$ 3-.,2-$ 10.334$ + ,* 00 !"2 ,3-."23*$.-5%"2)81!,,%1!0!&%3#))28),1$%02, "."2$)*-)&.".# 10.33,))&36 1.!3 3$ $.2$.2$ ,)*"1$%021., 1 ",8),3%7 .,34$ $.3.6.1$ 0),>32 #, %"&!3%1 2!1.-%)"."2!3 3&!3%1.3." 88 1-%+ .1$%"#-))093%"1 3$ 6 0% + 3-$. -3%"#%"#.3)"# ".60 3.1$ ,3-), %"8),1 *$.--$ ., -.05%"#.6)!-."2-)$ 0/1$%02 ", & &6 ,-$

PAGE 69

DA 0 33)"8),.0)"#-%& 4), 7.&/0 91$%02, "%"$ ,10.33,))&.35$ ,-)3%"#3)" #3-$.--$ $.+ 0 .," 26 8), )+ ,."2)+ ,.#.%"403)93%"1 3$ -$%"53-$.-.1$ ,3" 2-)$ 0/ 1$%02, "6!%02.#))2+)1.6!0.,."21$%02, "" 2-)$.+ .#))2+)1.6!0.,8),3!11 3 3%" 31$))093$ !3 3 .1$-%& 3$ -.053-)1$%02, ".3.1$."1 -).1$1$%02, "" *+)1.6 !0.,% 34 $ %3+ ,/,)!2-$.-3$ $.3.#))2, 0.-%)"3$%/*%-$)-$ ,.1$ ,3%"-$ 31$))04 $ 8, =! "-0-.053-))-$ ,.1$ ,3.6)!-$)*-)*),5*%-$1$%02, "."20 .,"38,)&)$ .1$ ,3> 7/ ,% "1 34n".22%-%)"9-$ 31$))06 #.")88 ,%"#-$ /, )#,.&%"D9."2-$ 1!,,%1!0!&)8$ ,/, 5%"2 ,#.,"10.33,))&%36.3 2)"6)-$-$ #!%2 0%" 3 8),-$ /,)#,.&."2-$ 31$))01!,,%1!0!&-$.-$.32 + 0)/ 2)+ ,-$ .,3411),2%"#-)-$ #!%2 0%" 393$ &.5 3 + 88),--)# -1$%02, ", .28),5%"2 ,#.," 68)1!3%"#)" 1$%02, ">30%,.1."25 /%"#-,.15)8 .1$1$%02>3/,)#, 334n"/.,-% 1!0.,93$ %31)"1 ," 2 .6)!--$ 31$))0>3.11)!"-.6%0%-."2-$!3" 23-)&.5 3!, -$.+ ,3%"#0 1 $%02%"$ ,/, 5%"2 ,#.,"10.33,))&%3/, /., 28),5%"2 ,#.,"4 $ 3 1)"2/.,-%1%/."-9 ,)"%1.9$.36 "*),5%"#*%-$1$%02, "8),-*) .,39."2$ 1!,, "-*),5/0.1 %3$ ,8%,3-.1$%"# 7/ ,% "1 4n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

PAGE 70

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n".22%-%)"9-$ 31$))0$.3)88 2-$ /,) #,.&3%"1 @."2$.3-$, 10.33,))&34$ 10.33,))&3!3 -$ 3.& 1!,,%1!0!&6.3 2)" 6)-$-$

PAGE 71

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n' rn,n r&+nn *)8),&.0%"2 /-$%",+% *3* 1)"2!12%"-$ -$, .1$ ,3>*),5/0.1 36 8), ."2.8,-$ 3 ,% 3)8)63 ,+.-%)"39."2-$ %",+% *2.-.* .!2%)-./ 1),2 2."2 -,."31,%6 24!2%)-./ 1),2%"#*.31)"2!12.--$ .1$ ,3>*),5/ 0.1 39."2-$ .!2%)-./ 1),2%"#3 33%)"30.32)" $)!, .1$4n"-$ 1.3 )8-$ 8%,3-."2-$%,2/.,%1%/."-39n %",+% 2-$ &2!,%"#1$%02, ">3"./-%& 4)* + ,9n%",+% 2 ,)"% 1.B-$ 3 1)"2 /.,-%1%/."-C.8,.001$%02, "%"$ ,10.33,))&* "-$)& 93%"1 $ ,10 .33,))&.3.$.082. /,)#,.&*.3)/ ")"08,)&A-)403)9n1)"2!12-$, )63 ,+.-%)"3%"-$ 1$ ,3> 10.33,))&3*%-$."%"8),&.0%",+% *-)8)00)* .1$10.33,))&)63 ,+.-%)"4 $ %"8),&.0 %",+% *30.32.//,)7%&.0@&%"!3 .1$9."2-$ 2.-.* .!2%)-./ 1),2 2."2 -,."31,%6 24n"/.,-%1!0.,9-$ %"8),&.0%",+% *3* + ,$ 0/ 8!08),& -)%&& 2%.0 !"2 ,3-."2-$ & ."%"#)8 .1$ + "-."2$.// "%"#-$.--))5/0.1 2!,%"# .1$10 .33,))& )63 ,+.-%)"4$ %",+% *3.33 &%3-,!1-!, 2%"10!2 2.8 */,)6%"#=! 3 -%)"393/ 1%8%1.00G.

PAGE 72

E 0%3-)8=! 3-%)"3."2/,)&/-3%"),2 ,-)%"1, .3 -$ 0%5 0%$))2-$.-.00-)/%13* %006 1)+ 2%" .1$%",+% *%"&), ),0 33-$ 3.& *.HB *.0-M *.0-99/4C 4n",+% *#!%2 3 ., %"10!2 2%"-$ // "2%74 $ .3)"-$.-n1$)3 %"2 /-$%",+% *%"#.3-$ 8%,3-& -$)2)82.-.1)00 1-%)"%3-$.%"2 /-$%",+% *%"#)88 ,3G.+.0!.60 3)!,1 )82.-.)"-$ %2 )0)#% 3)8 0."#!.# -$.!"2 ,0% 3)1%.031% "-%8%1, 3 .,1$HB,%##39'9/4?AAC4$.-%3-)3.9 6/,)+%2%"# /.,-%1%/."-3*%-$)//),-!"%-% 3-)/ ,1 %+ 9%"=!%, .6)!-9."2, /),--$ %,) *"-$)!#$-3."2 8 0%"#39%"2 /-$%",+% *%"# ".60 3/.,-%1%/."-3-)G, 1)"3-,! 1--$ %, 7/ ,% "1 ."2-) 7/0), -$ %,& ."%"#HB %2&."9AA9/4DAC4$!39 + ,.3/ 1-)8-$ 3-,!1-!, 9 /,)1 339."2 /,.1-%1 )8%",+% *%"#" 23-)6 .%& 2.-1, .-%"#G.10%& .8),&!-!.02%310)3!, 9H*$%1$ %"2%1.3-$.-6)-$-$ %",+% ,."2-$ /.,-%1%/."-3*%00%"#03$., -$ %,)*"8 0%"#3."2 -$)!#$-39."2-$ /.,-%1%/."-3., .60 -)/!--$ %, 7/ ,% "1 %"-)0."# !.# *%-$)!-6 %"#$!,,% 2 %"-)%",+% *3%-!.-%)"3/, &.-!, 0B)03%"M!6,%!&9?9/4?EC4 !,%"#-$ %",+% *3 33%)"39n-,% 2-)&.5 %",+% *%"#6 %"8),&.09")"2% 1-%+ 9."2 8, *$ 0%"#6 1.!3 n6 0% + 2-$.-.0 333-,!1-!, 2.-&)3/$ 1)!02 "$."1 ,.//),-*%-$ /.,-%1%/."-3B20 ,M20 ,9'C4n"),2 ,-) 3-.60%3$-$ 0 333-,!1-!, 2.-&)3/$ 9n 3)& -%& 3!3 2, /$,.3%"#)8-$ =! 3-%)"33%"1 G1., 8!00*),2 2=! 3-%)"3H 1."&.5 /.,-%1%/."-38 00 33-$, ." 2B20 ,M20 ,9'9/4DEC403)9n!3 2 G3!&&., 8 26.159H*$%1$& ."3-$.--$ %",+% ,G3!&&.,%: 3-$ 0.3-3 -)8 3-.& "-3H 7/, 33 2 6-$ /.,-%1%/."-393%"1 G3!&&.,8 26.15H&.5 3/.,-%1%/. "-36 .*., -$.--$ %",+% $.3$ .,2*$.--$ ., 3.%"#."2 "1)!,.# 3-$ &-)1)"-%"! ."2 7/."2-$ %, ."3* ,3 B *.0-M *.0-99/4'C4n"-$ "29n.3.0%3" ,3$)* 2.# "!%" %", 3-%"-$ /.,-%1%/."-3>3-),% 3."2*.31.!-%)!3.6)!-!3%"#&# 3-!, 3),6)20 ."#!.# 98), 7.&/0 9

PAGE 73

E' ,.%3%"#& 6,)*3),1$."#%"#&-)" )8+)%1 4$%3%36 1.!3 3!1$.&)-% )"&., /, 3 "-$ /)* ,)8-$ %",+% ,9*$%1$1."1)"-,)0G*$.--.5 3/0.1 %"-$ %" ,+% *%-3 08H B,%##39'9/4@C4.&rnn 3-$ 3 1)"2& -$)2)81)00 1-%"#2.-.9-$, )63 ,+.-%)"3)810.33,))&32!,%"#* $)0 #,)!/98, /0.9."2& .0-%& 1)"2!12/ ,.1$ ,4)* + ,9 n)63 ,+ 2 ,)"%1.>3 10.33,))&2!,%"#3".15-%& %"3.2)8& .0-%& 93%"1 1$%02, "%"$ ,10.33, ))&3-. 2)"0 8,)&A-)."2$.2")& .0-%& 4$ .3)"-$.-n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n"/.,-%1!0.,9 /.,-%1%/."-)63 ,+.-%)"%3!3 8!0-)!"2 ,3-."2*$.-%3#)%"#)"%"-$ $ ."2")* 9."2-$!39%-

PAGE 74

E? %3 88 1-%+ 0!3 2-)!"2 ,3-."2/$ ")& ".-$.-$.// ".-.3/ 1%8%1-%& "2/0.1 .3* 00.3-) G2%31)+ ,-$ 7%3"1 )8/.-,"3)8-$)!#$-."26 $.+%),HB *.0-M *.0-99/4C4 3., 3!0-9/.,-%1%/."-)63 ,+.-%)" ".60 2& -)!"2 ,3-."2-$ -$, .1 $ ,3>6 $.+%),."2 3/ 1$%".3/ 1%8%11)"7-.3* 00.3-$ /.-,"3)8-$ %,6 $.+%), ."23/ 1$%"-$ %,2.%0 10.33,))&3*$ "%",.1-%"#*%-$1$%02, "4$%3%3-$ .3)"-$.-n1$)3 / .,-%1%/."-)63 ,+.-%)" .3-$ 3 1)"2& -$)2)82.-.1)00 1-%)"4 !,%"#-$ 10.33,))&)63 ,+.-%)"39n&%"%&.00/.,-%1%/.2%"-$ 3 .,1$3%L-$.-%39n *.3/, 3 "-.--$ 31 )8-$ .1-%)"."2%2 "-%8%.60 .3., 3 .,1$ ,96!-n2%2")-.1-%+ 0 /.,-%1%/.),)"0)11.3%)".00%",.12*%-$/ )/0 %"%-4$%3%3 6 1.!3 -$ 6%## 3--$, .--) 0%.6%0%-%"=!.0%-.-%+ 3 .,1$%3, 3 .,1$ ,3>6%.3 393!1 $.3, 3 .,1$ ,3> 71 33%+ %"+)0+ & "-%"-$ 3%4--$ 6 #%""%"#)8-$ 8%,3-)63 ,+.-%)"9-$ -$, .1$ ,3%"-,)2!1 2 & -)-$ %,1$%02, "9.0)"#*%-$.3$),7/0.".-%)")8*$n*.3-$ 4($%0 n*.3)63 ,+%"# -$ .1$ ,3>6 $.+%),."23/ 1$9-$ 1$%02, "* 3 02)&%", 32% "& 96!-3)& 1$%02, 3)& -%& 3.35 2-$ %,.1$ ,*$3$ *), ., &)&%1,)/$)" 4$.-%3 -)3.9.001$%02, ."2.1$ ,3* $.,201)"31%)!3)8&/, 3 "1 ."22%3/0. 2-$ %,!3!. 06 $.+%),."2 3/ 1$%"2.%010.33,))&34n".22%-%)"9n&.2 ." 88),--)6 .#))2."21. 8!00%3" ,9 3$)* 2, 3/ 1-8),/.,-%1%/."-3%".3 --%"#9."2*.3/, /., 2-)00-$ -,!-$93%"1 -$ =!.0%-)8 /.,-%1%/."-)63 ,+.-%)"*)!02+.,2 / "2%"#)", 3 .,1$ ,3>/ ,3)".0 1$.,.1,%3-%130%5 # "2 ,."2.# 9-$ %,-,.%"%"#."2 7/ ,% "1 9."2-$ %,-$ ), -%1.0),% "-.-%)"B *.0-M *.0-9 C4 n/rn,nn n!3 2-$ & -$)2)82%31)!,3 .".03%36 1.!3 2%31)!,3 .3.1$")0)#)8/)* ,%3 .,-%1!0.2%"-$ 8),&3)85")*0 2# -$.-1)"3-%-!-$ 8),&.01!,,%1!0. .3* 00.3-$ 3)1%.0 %",.1-%)"36 -* ".1$ ,3."21$%02, "%"10.33,))&34n"-$ 1.3 )82%31 )!,3 .".03%39%-3

PAGE 75

E@ 8,.& *),5/,)+%2 3."!"2 ,3-."2%"#)8& ."%"#&.5%"#33&3."22%31)!,3 -*),53%" 3/ 1%8%13%-!.-%)"3-$,)!#$-$ 2 31,%/-%)"."2%",/, -.-%)")8& ."%"#&.5%"#. 3* 00.3-$ 1,%-%1.0.".03%3)8%2 )0)#4,)&-$%3/ ,3/ 1-%+ 9n*.31)"1 2*%-$$)*.1$ ,3> 2%31)!,3 3* 1)"3-,!129, /,)2!1 29."21)"-,)00 26-$ $% ,.,1$%1.0 ),#."%:.-%)"3)8 31$))033&3403)9n*.3%", 32%"$)*-$ 2%31)!,3 3-$.-1)"3-%-!2$ 3)1%.0 %",.1-%)"36 -* ".1$ ,3."21$%02, "%"+)0!"-.,/, 5%"2 ,#.," /,)#,.&3%"1$%021., 3 --%"#3* ".12."21)"8%,& 2-$,)!#$-$ 8),&3)80.*39,!0 39"),&3 9),$.6%-34$%3%3 6 1.!3 n1)"3%2 ,/)* ,-$.-%3 7 ,1%3 29, /,)2!1 29& 2%.29."2, 3%3 2-$,)!#$ 2%31)!,3 3%"10.33,))&3.3-$ 6%## 3--$, .--) 88 1-%+ .1$ ,1$%0 2%",.1-%)"39.32 8%" 2 8,)&.1,%-%1.0/ ,3/ 1-%+ 9%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.& 3%"1$%021., 3 --%"#34 n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n8),&!0.2-*) 1)"-,.3-%"#$/)-$ 3 3)" %3-$.-.1$ ,3.3-$ )//, 33 2., 8),1 2-).1$1$%02, ".*$%9 &.0 9!,)/ ."& ,%1."&)2 0-$,)!#$2%+ ,3 1$"%=! 3)8"),&.0%:.-%)"93!1$.3 & .3!, & "-9, #!0.-%)"9."2 +.0!.-%)"L-$ )-$ ,%3-$.-.1$ ,3.3-$ )//, 33),38),1 1$%02, "-)0 .,"3!1$.&)2 0-$,)!#$-$ !"%0.,.0%",.1-%)"36 -* "-$ &3 0+ 3."2 1$%02, "4)* + ,9.3 B@C &/$.3%: 39n.&.0*.3)/ "-)8!,-$ ,% "+ 3-%#.-%)")8&

PAGE 76

ED $/)-$ 3 3."2-)8%"2%"# +%2 "1 .#.%"3-&/, 8 ,, 2+% *393%"1 n .3-$ /,%&.,%"3-,!& "8),2.-.1)00 1-%)".&0%5 0-)8%0,2.-.-$,)!#$&-$ ), -%1.0/)% "-)8+% *4 11),2%"#-) >3B@C& -$)2)82%31)!,3 .".03%39n, .2%",+% *."2 )63 ,+.-%)"2.-.9*$%1$* .!2%)-./ 1),2 2."2-,."31,%6 29."2!"2 ,0%" 2G-$ *),2), /$,.3 *%-$-$ &)3-3-, 33H."2G-$ *."2&)3-3.0% "-%"8),&.-%)"HB 9@9 /4@C4 "2-$ "n),#."%: 2-$ 2.-.%"-)."!&6 ,)83-.":.39*$%1$& ."G3 -3)80%" 32 +)2-). 3%"#0 -)/%19 + "-9%&.# 9/ ,3/ 1-%+ 9),-$ & HB 9@9/4EC4n"),2 ,-). ".0: -$ 2.-..-.&.1,)0 + 09n, .2-$ 3-.":.3."2&.2 3!63!63-),% 393!6 3-),% 39."28,.& 3*%-$%" 3-),% 39%"-$.-),2 ,4($ "&.5%"#-$ 3-),% 39n!3 2 n 96, &)+%"#&." 2%88 "-3),-3)8G3/ 1$$ 3%-.-%)"3."22380! "1% 3H8,)&-$ .1 -!.00%" 3B 9@9/4AC4 $%3%36 1.!3 %2 .0%: 20%" 3., !3 8!08),G2%31)+ ,%"#& ."%"#8!0 /.-,"3%"/ )/0 >3 3/ 1$H."2G# --%"#.--$ %,6.3%1-$ & 3."2$)*-$ ., ),#."%: 2 HB 9@9/4AC4 %".009n1)&/0 23 + "6!%02%"#-.353%#"%8%1."1 91-%+%-% 39 n2 "-%-% 39 0.-%)"3$%/39 )0%-%13B-$ 2%3-,%6!-%)")83)1%.0#))23C9)"" 1-%)"39."2%#"33&3."25")* 0 2# 4($ 1, .-%"#6!%02%"#-.3539n3)& -%& 3!3 2$ 3%-.-%)"39/.!3 392380 "1% 39."2")"10.!3 0%" 34 $%3%36 1.!3 -$ 3 8.1-),3%"10!2 %&/),-."-%"8),&.-%)".6)!--$ 2%31)!, 3 393!1$.3G$)* /0.""%"#%3#)%"#)"%"-$ 3/ .5 ,>3$ .2HB 9@9/4AC4 $ 3 + "6!%02%"#-.353& ."3 + "., .3)8G, .0%-9H."2, 3!0-8,)&$ ")-%)"-$.-* .0*.3."23%&!0-." )!306!%02-$ 3 + "., .3)8G, .0%-H*$ + ,* 3/ .5),*,%B 9 @9/4C4$.-%3-)3.9* 1)"-%"!.00."2.1-%+ 01)"3-,!1-."2, 1)"3-,!1-)!,* ),023 -$,)!#$0."#!.# !3 2%"%",.1-%)"39")"+ ,6.033&391$")0)#% 39."2/. ,-%1!0.,*.3)8 G-$%"5%"#9+.0!%"#98 0%"#9."26 0% +%"#HB/4C4), 7.&/0 9* "#.# %".1 ,-.%"5%"2)8 .1-%+%-."2, 1)#"%: )!, "#.# & "--$,)!#$./% 1 )80."#!.# !3 2% "-$ .1-%+%-4

PAGE 77

EE .35%"#-$ =! 3-%)")8$)*-$%3/% 1 )80."#!.# %3!3 2%"-$ .1-%+%-),*$. -* ., !3%"#-$%3 /% 1 )80."#!.# -)2)$ 92%31)!,3 .".03%3%3.60 -)%"+ 3-%#.-$ .0%--$.-* ., .1-%+ 06!%02%"#-$,)!#$0."#!.# %"-$ .1-%+%-4n"3!&&.,93-!2%"# 0."#!.# ".60 3 2%31)!,3 .".03%3-), 80 1-G, .0%-H6 7/0),%"#2%88 "-%2 "%-% 3."2.1-%+%-% 3 ".12 -$,)!#$0."#!.# .3* 00.3/ )/0 >32%88 "-.11 33-)2%88 "%2 "-%-% 3."2.1-%+%-% 30%"5 2 -)2%88 "-5%"23)83-.-!3."23)1%.0#))234 +rn .-.1)00 1-%)"."22.-..".03%3%"=!.0%-.-%+ 3 .,1$., 0%5 0-) /, 3 "-$%1.0 2%0 &&.34n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n".22%-%)"9 2.-..".03%3&./, 3 "-$%1.02%0 &&.33%"1 -$ 3 .,1$ .3-$ /,%&.,%"3-,!& "-8), 2.-.1)00 1-%)"$.38%0, 22.-.-$,)!#$$%3),$ ,/.,-%1!0.,-$ ), -%1. 0),% "-.-%)"."26%.3 34 n"),2 ,-).+)%2-$ 3 5%"23)8 -$%1.0/,)60 &39n8%,3-$ 0/ 2/.,-%1%/ ."-3!"2 ,3-."2 -$ & ."%"#)8%"8),& 21)"3 "-4$%3%36 1.!3 /.,-%1%/."-3$.+ -$ G,%#$--)8, 01$))3 *$ -$ ,-)/.,-%1%/.%"., 3 .,1$/,)< 1-),")-H*%-$., .3 )".60 !"2 ,3-."2%"#)86)-$,%353

PAGE 78

E ."26 8%-3-$.-., %"+)0+ 2%"-$ 3 .,1$/,)< 1-B *.0-M *.0 -99//4AAAC4 03)9n3 1!, 2),1)"1 .0 2.00/ ,3)".02.-.6!3%"#/3 !2)"&3)8/. ,-%1%/."-3%"8% 02")3 .3* 00.3%"/)33%60 /!60%1.-%)"93%"1 G"))" 2 3 ,+ 3$.,&), &6.,, .33& "-.3., 3!0-)8 %"3 "3%-%+ 3 .,1$/,.1-%1 3HB ":%"M%"1)0"9'9/4C4$!39n-,% 2-)% "1, .3 -$ -,!3-*),-$%" 33)8-$%3=!.0%-.-%+ 3 .,1$/,)< 1-61)"-%"!.00.3 5%"#-$ =! 3-%)"3)8*$ -$ /.,-%1%/."-3$.26 "#%+ "8!00%"8),&.-%)".6)!-*$.--$ 3-!2%"+)0+ 29*$ -$ ,/.,-%1%/."-3 *%00%"#0$.2#%+ "-$ %,1)"3 "--)/.,-%1%/.9."2*$ -$ ,/.,-%1 %/."-3%"-$ 3-!2* 2 1 %+ 2%"."*.),")-4 rnnn!nn n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n8)1!3 2)"-$ /.,-%1!0.,,.-$ ,-$."-$ # ,.0."2-$!33 0 12-$, /.,-%1%/."-3!3%"#-$ /.,-%1!0., 1,%,%.-$.-1)!023 ,+ -$

PAGE 79

EA /!,/)3 )8-$%3, 3 .,1$/,)< 1-43., 3!0-9-$ 3%-!.-%)"3)8-$%33-!2 ., ")--/%1.09."2-$ 8%"2%"#3)8-$%33-!21."")-6 .2%0.//0% 2-))-$ ,3%-!.-%)"34 )* + ,9%"),2 ,-)%"1, .3 # ,.0%:.6%0%-9-$%3, 3 .,1$/,)< 1 -!3 22%88 "3-,.#% 39%"10!2%"#,%1$9-$%152 31,%/-%)"."2&.7%&!&+.,%.-%)"9*$%1$, 8 ,3-)!3%"#3 + ,.0 3%391.3 39),3%-!.-%)"34n"),2 ,-)&.7%&%: 2%+ ,3%-%".1$ ,1 $%02%",.1-%)"3%"-$ /,)#,.&9n1)"2!12-$, )63 ,+.-%)"3)810.33,))&32!,%"#*$)0 #,)!/98 /0.9."2& .0 -%& / ,.1$ ,4n"),2 ,-)/,)+%2 ")!#$2 -.%0 2%"8),&.-%)".6)!-10. 33,))& + "-39n 1),2 2-$ )63 ,+.-%)"3%"-$ 8),&)88% 02")3."2%"10!2 2+ ,2 -.%0 22 3 1,%/-%)"3)8-$ )63 ,+.-%)"3%"$./,?4$ ,%1$92 -.%0 2%"8),&.-%)".6)!-.1$ ,1$%02%",.1-%)"3%"-$ /,)#,.& ".60 3, .2 ,3-)2 ,&%" $)*10)3 0-$ %,3%-!.-%)"3&. -1$-$%3, 3 .,1$ 1)"7-),*$ -$ ,-$ 8%"2%"#3)8-$%33-!21."6 -,."38 ,, 2-)-$ %,3%-!.%)"34 ")-$ ,0%&%-.-%)")8-$%3=!.0%-.-%+ 3 .,1$/,)< 1-%3-))88 ,/.,%.0 +%2 "1 )" %",".0+.0%2%-2 3/%%-33 + ,.03-,.#% 3-) "$."1 %",".0 +.0%2%-4n"),2 ,-)10.,%8& .33!&/-%)"3."2*),02+% *6.3 2)"&/ ,3)".0 7/ ,% "1 39n%"+)0+ 2&3!6 < 1-%+%3-.& "-%"$./,403)9n1)"2!12G& &6 ,1$ 153H.8,1)&/0 -%"#-$ 8%,3-2,.8-)8 2.-..".03%3L-$.-%39n.35 2-$ -$, /.,-%1%/."-3*$ -$ ,),")-&"-.-%+ %",/, -.-%)"3 /0.!3%60 4r + ,-$ 0 339-$%3, 3 .,1$/,)< 1-/,)+%2 3 %"3!88%1% "+%2 "1 )"-$ +.0%2%)8-$ 8%"2%"#393%"1 -$ 2.-.* 1)00 12)+ ,.3$),-/ ,%)2)8-%& 4$.-% 3-)3.9-$ 2.-. ")-1)00 12-$,)!#$G0)"#,&)63 ,+.-%)".--$ 3 .,1$3%), / .2)63 ,+.-%)"3 )8-$ 3.& /$ ")& ")"HB ,,%.&9AA9/4?C4$%3/, + "-3-$%3, 3 .,1$/,) < 1-8,)&8!00 7/0.%"%"#G-$ 1)&/0 7%-)8$!&."6 $.+%),%".1)"7-!.08,.& *),5H), 8,)&/, 3 "-%"#G. $)0%3-%1%",/, -.-%)")8*$.-%3$.// "%"#HB ,,%.&9AA9/4'C4$!39-$%3, 3 .,1$/,)< 1-

PAGE 80

2) 3")-#%+ ./)3%-%+ ."3* ,-)-$ =! 3-%)")8*$ -$ ,-$ 3 .,1$2 &)"3-, .3*$.-%3 .00$.// "%"#4 ,)&.-,.2%-%)".0/ ,3/ 1-%+ )", 0%.6%0%-%"., 3 .,1$2 3%#"9 -$ 8.1--$.--$ 2.-. 1)00 12)+ ,.3$),-/ ,%)2)8-%& %3, 0.2-)-$ 0%.6%0%)8-$%3, 3 .,1$/,)< 1-4$%3 %36 1.!3 -$ -,.2%-%)".0/ ,3/ 1-%+ .33!& 3-$.-.3-!21."%"1 .3 +.0%2%--$,)!#$, / .2 )63 ,+.-%)"3%"-$ 3.& 3-!2-$.-0 .2-)-$ 3.& 3!0-34)* + ,93%"1 $!&."6 $.+%),%3 + ,3-.-%1."2, .0%-%"10!2 3&."%",/, -.-%)"3)8*$.-%3$.// "%" #9.=!.0%-.-%+ 3-!2 *%00")-% 02-$ 3.& 3!0-3, / .20B ,,%.&9AAC4$!39%"=!.0%-. -%+ 3 .,1$9-$ 3!0-3., 0%.60 %8-$ ., G1)"3%3"-."22 / "2.60 H,.-$ ,-$." 7.1-0-$ 3.& B ,,%.&9 AA9/4DC4 0%.6%0%-%"=!.0%-.-%+ 3 .,1$%3# ,.00%&/,)+ 26 3 .,1$ ,3>2 -.%0 2 2 31,%/-%)"3)8$)*2.-.., 1)00 129$)*1.#),% 3., 2 ,%+ 29."2$)*2 1% 3%)"3., &.2 -$,)!#$)!--$ %"=!%,4,)&-$%3+% */)%"-9-$%3=!.0%-.-%+ 3 .,1$/,)< 13!88%1% "-03$)*3 %-3, 0%.6%0%-."2 ".60 3, .2 ,3-)!"2 ,3-."2$)*-$ 3!0-3., / ,)2!1 2."2-)1)"8%,&-$ 8%"2%"#3)8-$%33-!2%"2 / "2 "-0403)96&%"%&.00/.,-%1%/.-%"#% "-$ 3 .,1$3%9n2 .0*%-$-$ 6%## 3--$, .--), 0%.6%0%-%"=!.0%-.-%+ 3 .,1$, 3 ,1$ ,3>6%.3 393!1$.3 3 .,1$ ,3> 71 33%+ %"+)0+ & "-%"-$ 3%4)* + ,93%"1 )"0n.3 .$!&."%"3-,!& "/.,-%1%/.2%"-$ 3 .,1$3%9-$%3, 3 .,1$/,)< 1-%"10!2 3)6 3 ,+ ,>36%.3 3, 3!0-%"#8,)& &/ ,3)".01$.,.1,%3-%130%5 1!0-!,.0."2.1.2 &%16.15#, )!"239&0.15)8 7/ ,% "1 )8 1)"2!1-%"#, 3 .,1$9."2&-$ ), -%1.0),% "-.-%)"4$%3%3.")-$ ,0%&%.-%)")8-$%3=!.0%-.-%+ 3 .,1$/,)< 1-4 %".009n!3 2&."3-,.#% 3-)%"1, .3 -$ -,!3-*),-$%" 33)8-$%3=!. 0%-.-%+ 3 .,1$ /,)< 1-4)* + ,93%"1 -$%3, 3 .,1$/,)< 1-*.31)"2!12)+ ,.3$),-/ ,%)2)8-%& 9n2%2")$.+ 3!88%1% "--%& -) 3-.60%3$.10)3 ,.//),-*%-$-$ /.,-%1%/."3403)9&0.15)8

PAGE 81

7/ ,% "1 )81)"2!1-%"#, 3 .,1$/, + "2& 8,)&6!%02%"#." 71 00 ",.//),-4$%3 %"2%1.3-$.-6)-$n."2-$ /.,-%1%/."-3/.,-0!"2 ,3-))2."23$., 2, 1 %/,)1.01!0-!, 3."2 6 0% 839."2-$%3, 3 .,1$/,)< 1-%36.3 2)"3!1$."!"2 ,3-."2%"#4$%3 /)%"-" 23-)6 .22, 33 268!-!, 3 .,1$6.3 2)"0)"#,&, 0.-%)"3$%/36 -* ", 3 .,1$ ,3."2 /.,-%1%/."-3),, 3 .,1$ ,3>,%1$ 7/ ,% "1 )86!%02%"#,.//),-4

PAGE 82

? rnrrrn n"-$%31$./,n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n".22%-% )"93 + "6!%02%"# -.3531)"3%3-)8%#"%8%1."1 91-%+%-% 39n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nn r0n!rnn &.%"%", 3-%"!3.">3%",+% *%3-)3 $)*3$ %31)"1 ," 2.6)!--$ 31$))0 >3 .11)!"-.6%0%--$,)!#$$ ,.1-!.0*),234$%3&.%"%", 3-1)& 38,)&-$ 8 .1--$.-.3)" )8-$ %33! 3&)3-8, =! "-0& "-%)" 22!,%"#-$ %",+% *3 33%)"39-$ 31$))0>3.11)!"-. 6%0%3 &3-)3%#"%8%1."-0%"80! "1 !3.">36 $.+%),."23/ 1$4!3."8, =! "-0-.05 2-)1$%02,

PAGE 83

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n"/.,-%1!0.,9$ ,"., ,.-%+ %"10!2 3$)*-$ /,)#,.&1$."# 3."21)"3-,.%"3$ ,*.)8.1$%"#."2%",.1-%"# *%-$1$%02, "43. 3!0-9!3.">3".,,.-%+ 3$)*3$)*$ ,2%31)!,3 3., 1)"3-,!12."21)"-,)0 0 26-$ $% ,.,1$%1.0),#."%:.-%)"3)831$))033&3."2$)*$ ,%",.1-%)"3*%-$1$%02, "., %"80! "1 26-$ 2%31)!,3 34!rn)&n-.":. .1$ ,31)"3%2 ,3)& /,)60 &3)8-$ .,-$.3.* 50 -$ & 4 n-%3./,)#,.&-$.-* $.2, .2.6)!4 ."2* 5")*-$.--$ .,-$%3$.+%"#/,)60 &39 '4 -$ ., 3)&."/ )/0

PAGE 84

? ?4 ."2.0)-)8/ )/0 ., ")-, !3%"#-$%"#3."2, 110%"#%&3 @4 ."2-$,)*%"#.*.3)&."-$%"#39 D4 -$ #.,6.# /%0 3., /%0%"#!/$%#$ ,."2$%#$ E4 ."2%-R3./,)60 &9-$.--$ .,-$$.34 !1n n r rnnn n rnnn!n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n->3.#))2-$%"#8),-$ &-)5")*."2-$%"5.6)!-%-4-.":.? .1$ ,32 1%2 .* 50-$ & 6.3 2)"-$ 31$))01!,,%1!0!& E4 ( $.+ 1!,,%1!0!&$ .-&31$))0 4 -$.-*.32 + 0)/ 2)+ ,9)+ ,3)& .,36.1$ ,3 A4 ."2* !3!.00#)6-$.-96-$.--$ & .1$* 5-.":.@ .1$ ,31$))3 *$.--)2)*%-$.-$ &

PAGE 85

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

PAGE 86

D 'A4 ( $.+ .0)-)83-."2.,234 ?4 $ ., + ,$ 0/8!09 ?4 -$ R33)&!1$93)-$ R33)&!1$ ?4 6 1.!3 $)*9nR00$.+ -)3$)*)!-$ 6))5%8)!*."-9 -.":.A$ %"8),&.-%)"%3+ ,3/ 1%8%1 ?'4 6!--$ R3.!"%-.3.*$)0 3 1-%)")"-$ %,/$3%1.0.6%0%-% 39 ??4 %8-$ 9%8-$ 1."2)3&.00&)-),-$%"#390.,# &)-),-$%"#39 ?@4 /$3%1.009$)*., -$ /$3%1.009 ?D4 $)*-$ >, %"#))2$ .0-$9 ?E4 2)-$ 3 &-) .-#))28))24-.":./,)#,.& &/$.3%: 31$%02, ">30%,.1 ?4 $.->33/,)#, 33 @4 ."2)!$.+ -)9)!$.+ -)-,.15 + ,1$%02."23 4 @'4 ),%"3-."1 98),!3%->30%5 %8)!* .1$%02%"&10.33 @?4 n*)!02*.-1$)!2,.*%"# @@4 ."23 *$.-)!" 2 2-)*),5)"4-.":. .1$ ,3.33 33&."2%88 "-.3/ 1-3)81$%02, ">32 + 0) /& "@D4 n*)!02.35)!9G($.-0 -,%3-$%3PH @E4 ."23 $)*&."0 -,3)!5")*

PAGE 87

E @4 ."2-$.-%8)!2%2"R-5")*+ ,&." @A4 *)!02*,%-$.-2)*"9* 009" 23-)*),5)"0 -,3 D4 ."2* *)!02*),5*%-$)!&), )"0 -,, 1)#"%-%)"4 D4 n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

PAGE 88

E@4 3)-$.-* 9* -,.15 .1$1$%02 ED4 ."2* 31.88)02)"*$.--$ .0, .25")*4 EE4 ( 6!%02)"-$.-4 E4 )-$ >3&), ."2&), /./ ,*),59 EA4 ."2&), .2%"#9 4 &), .002)%"#*%-$ .1$1$%02)" )")" -))4 4 "2* 2%2%-6 8), 9 4 6!-%->39* 2)">-, .002)-$.-&."&), 2%88 "--$%"#34 -.":.E$ %31)"1 ," 2.6)!--$ 31$))0>3.11)!"-.6%0%'4 n-$%"53.11)!"-.6%0%-")*4-.":./),-8)0%)3$)*3$)*1$%02, "2 + 0)/-$ %,.6%0%-% 3 A4 ),-8)0%)P5.4( 2)9* 5 /-$ 3.&/0 3)8-$ %,.,-*),54 A'4 ),%"3-."1 9.--$ 6 #%""%"#)8-$ .,9 A?4 3.9G,.*)!,3 089H3)-$ 2,.*9 A@4 ."2-$ ". .,0.,* 3..#.%"G,.*./%1-!, )8)!,3 084H

PAGE 89

A AD4 "2-$ "-$ 2,.*.&), 2 -.%0 2/%1-!, 4-.":.A/),-8)0%) ".60 3.1$ ,3-)5 /-,.15)81$%02, ">3/,)#, 33 AE4 --$ "2)8-$ .,9 A4 1."5 /-,.15)8-$ %,/,)#, 339 AA4 ."2.03)9* $.+ 9-$%"#3-$.--$ -,-)*,%9 4 -$ 1."*,%-$ 0 -,34 4 ($ "-$ *,%-$ %,".& 9 4 /!--$.-%".--$ 6 #%""%"#)8-$ .,9 '4 ."2-$ + ,8 ** 53/!-%".")-$ ,-,-)*,%-$ %,".& 9 ?4 ."2* -,.15-$ %,/,)#, 33)"-$.-4 !63!63-),?./ ,*),5$ 0/3.1$ ,35")**$.--$ $.+ -)2)8),1$%02, -.":../ ,*),5 ".60 3.1$ ,3-)6 .*., )8*$.--$ ., 2)%" # @4 n2)">-0%5 %-4 D4 !-9%-, .009n& ."%-9!0-%&.0%-%3.#))2-$%"# E4 6 1.!3 %-2) 35 /)!.*., )89 4 $)*&!1$-$ 2-)0 .,"9 -.":../ ,*),5$ 0/3.1$ ,3!"2 ,3-."23)& -$%"# A4 )!$.+ -)6 5%"2)83)& )8%->393!6< 1-%+ 9 4 0%5 -$ &.")-5")*3)& -$%"#)" 2. 4 ."2%8)!.35-$ &.")-$ ,2.-$ 5")*%4 ."293)& -%& 3-$ 2)"R-5")*%-,%#$--$ "9 '4 6!--$ "0.,-$ & &6 ,9 ?4 B3$ !3 3.1$%02>3+)%1 CG$9 .$9n5" *-$.-4H

PAGE 90

A -.":../ ,*),5%31)"3%2 26!,2 "3)& @4 )-$.-&.5 3%-.0%--0 6%-2%88%1!0D4 6!-9n-$%"5%"-$ 0)"#,!"%-R3#))29 E4 %-2) 3-.5 &), )8)!,-%& ."2&), 9 4 -$ >3&), /, 33!, )"!39 A4 -)&.5 3!, -$.--$ R, 2)%"#*$.--$ 2-)2)4 4 )-$.-9-$.-/.,-)8%-%3$.,29 -.":.'./ ,*),5$ 0/3.1$ ,31., .6)!--$ %,1$%02, 4 6!-n-$%"5%-%3.#))2-$%"#9 4 6 1.!3 9-$ ., .0)-)8.1$ ,3 '4 n-$%"5-$.-%8-$ 2)"R-, .001., .6)!--$ 1$%02, "-$.-&!1$9 ?4 -$ *)">-2)."-$%"#9 @4 -$ --.05-)-$ &9 E4 -$ 2)"R-2)."-$%"#4 -.":.?./ ,*),5 ".60 3.1$ ,3-)5")*$)*-).33 331$%02, ">3/,)#, 33 4 !-")*%8-$ R, 2)%"#-$ 9 A4 -$ $.+ -)$.+ .8)02 ,8), .1$1$%02-$.-3$)*39-$ %,/,)#, 334 '4 $ $.+ -).33 33 .1$1$%029 '4 -$ $.+ 3)& 5%"2)88),&-$.--$ 8%00)!-4 -.":.@./ ,*),5%3$ 0/8!08),.1$ ,3%"-$ "2 '4 )-$ $.+ -)6 92)%"#*$.--$ R, 3!//)3 2-)6 2)%"#4 ''4 )n-$%"5%-R3, .00#))2%"-$ 0)"#,!"9

PAGE 91

A '?4 %-R3$.,2 ,B$.9$.C%-R3&), 8),!36!-9 '@4 n-$%"5%-R39.#))2-$%"#4 !n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

PAGE 92

A @4 / )/0 *$)5")*9.1$ ,3*$)5")*9 @'4 G$9-$%31$%021.& 8,)&3)."23)31$))09H @?4 ."2$ 5")*3.0)-93)-$ &!3-$.+ .00*),5 24 @@4 "2-$ &.2 3!, -$.-$ 5" + ,-$%"#4 -.":.A$ 31$))0>3.11)!"-.6%0%-%3%&/),-."@D4 $.-R3.")-$ ,*.* $ 02.11)!"-.60 6-$ )-$ ,31$))039 @E4 -$ *%009n2)">-5")*%8-$ >00, /),--$.-9 @4 6!--$ *%005")*4 @A4 n>&")-3!, %8-$ ., 3)& 5%"23)8#,.2%"#33&3 -9 D4 6!--$.-&%#$-6 1)&%"#4 -.":.'$ 31$))0" 23-)6 .11)!"-.60 -)/., "-3 D4 )93)* >, $ 02.11)!"-.60 ."2.03)-)-$ /., "-3 D4 $.+ .1)"8 "1 *%-$.00-$ /., "-3%";."!.,9%";."!.,), 6,!.,9 D'4 n-$%"5 6,!.,-$%3 .,4 -.":.' .1$ ,3%"8),&/., "-3)8*$.--$ %,1$%025")*3 D?4 "2* *%0000-$ &9 D@4 )!,1$%025")*3-$.-95")*3.00)8-$%39 DD4 6!-%8)!1)!02*),5*%-$$%&)"-$%3 DE4 *$%0 )!* 3-%00*),5%"#)"9 D4 $%&0 .,"%"#.00)8$%30 -,3),*$.+ ,4 -.":.'., "-3" 2-)&.5 3!, -$ %,1$%02%3, .28),5%"2 ,#.," DA4 )* >, .11)!"-.60 -)-$ /., "-3.03) E4 6 1.!3 -$ *."--$ %,1$%02, .28),5%"2 ,#.,"

PAGE 93

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n->3-$.--$ *$)0 9*$)0 %2 .6 $%"2-$%34 E4 n->3-$.-&), 1$%02, "*%002)* 00%"5%"2 ,#.,"4 4 3)& -%& 3%-&.5 3%-.0%--0 $.,2 A4 6 1.!3 )!$.+ -)6 3!, -$.-)!R, 2)%"# ")!#$9

PAGE 94

A? -.":.'D .1$ ,3$.+ -)*),5*%-$1$%02, "*$)2)")-!"2 ,3-."20 -,3 A4 )!0))5.-)!,, 1),233.9 A4 $ 3-%002) 3"R-9$ 3-%002) 3"R-!"2 ,3-."29 A4 -$ 3 2%88 "-0 -,3."2-$ 3)!"23)8-$ 0 -,33)4 A'4 $ ")!$.+ -)8%"2-$ -%& A?4 *$ ")!1."*),5*%-$-$ &)"-$.A@4 ),&.5 3!, -$.--$ R, /.,-%1%/.-%"#%" AD4 .#.& -$.--.053.6)!-9-$)3 3)!"23)8-$)3 0 -,34 (rnn!1nn n rn5n nnnnn rnnn 5rrnn -.":.'E .1$ ,3$.+ -), 1),2 + ,-$%"#-$.-$.// "3-) .1$1$%02 AE4 )%->393)%-R3.0)-&), B4C& "-.0/, /.,.-%)" A4 ."2.03))"/./ AA4 ."2* $.+ -)*,%.00-$ 3 -$%"#32)*" 4 ."2$.+ ., 1),2)8 .1$1$%024 4 )9-$.-.88 1-3.0)-4 .60 ?4!3.">310.3331$ 2!0 A,)!/-%& )001.0090 2# )8.00 #%."1 9.0 "2.,9-),9 0/ 1$.,-9) &M )"#3 A, /0.,-9,.&.-%1/0.."2)-$ ,1 ",3 @ *%-1$,))&3")-$ ,#,)!/-%& *%-$3-),9 +% *."2 1.00 @ 0 ."!/")-$ ,#,)!/-%& N +% *."2 1.0092!1.-%)".0#.& !-3%2 "2)8-$ -%&

PAGE 95

A@ !&rn6rn5n6rnr r nn)*."2*$.-2%88 "--$%"#3& ."N-$ 3),-3)8& ."%"#."23%#"%8%1."1 -$ #%+ "N%3. 1)&/)" "-)8."3%-!.-%)"4 4 ($.-., -$ 3%-!.2& ."%"#3)83)& )8-$ *),23."2/$,.3 3-$.-3 &%&/),."%"-$ 3%-!.-%)"P n"-$ 8%,3-."23 1)"28),&.0%",+% *393$ 8, =! "-0!3 3-$ *),2G-.05 9H."2-$ *),2G-.05H%32%88 "-0%",/, 2.11),2%"#-) .1$3%-!.-%)"4%,3 -9-$ & ."%"#)8G-.05H%3 -$.-.1$ ,3."21$%02, "3%&/0 7/, 33-$ %,-$)!#$-3."28 0%"#34$.-% 3-)3.9-$ *),2 G-.05H& ."3-$.-.1$ ,3."21$%02, "3.3)& -$%"#,.-$ ,-$."1)"+ %"#$ /.,-%1!0.,4 n8-$ 2)">--.05 ."20%3".0)-9-$ &%#$-")-!"2 ,3-."2-$ 3-=! 3-%)"39)!5")*9 -$.-3 &3-)$.// "4n->39!$9%->3.0).3% ,8),.1$%02-)3-.,-, .2%"#."2*,%-%"#%8-$ 1. "-.05 00."2-$ 1."$ .,/ )/0 -.05%"# .0)-4 1)"29-$ *),2G-.05H& ."3-$.-.1$ ,3%"+)0+ 1$%02, "%"2%31!33%"#.1 ,-.%"-)/%1 6&.5%"#1$%02, "/..-"-%)"-)-$ -)/%14n"-$ 3%-!.-%)"*$ ".1$ ,3 .1$1$%02, ". 1 ,-.%"3!6< 1-6#%+%"#1$%02, ".1$."1 -)3.-$ %,%2 .3.6)!--$ 3 !6< 1-9-$ 3%-!.2 & ."%"#)8G-.05H%3-)2%31!333)& -$%"#4 ( -.05 .6)!-9!&98),%"3-."1 9-$%3* 5* -.05%"# .6)!-, 110%"#."2, !3%"# %&39)!5")*93.+%"#9-,%"#-)5 /-$ .,-$10 ."4( -.05 .6)!--$.-3!6< 1-.#.%"9G($)-.05 2 .6)!--$ 110%"#PH.,)"-)2.n
PAGE 96

AD n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r 7-93$ 8, =! "-0!3 3-$ *),2G00H2!,%"#-$ %",+% *3."2)63 ,+.-%)"3 9."2%$.3-$, 2%88 "-3%-!.2& ."%"#34%,3-9*$ "3$ *."-31$%02, "-) 7/, 33-$ %,-$)!#$-3 ."28 0%"#3)6+%)!30."2/)3%-%+ 093$ !3 3-$ *),2G004H3/ 1%. 00*$ "1$%02, 1)&/0.%".6)!-)-$ ,1$%02, ">3&%36 $.+%),93$ .00)*31$%02, "-)3.-$ %,8 0%"#3!3%"#-$ *),2G004H$!39-$ *),2G00H& ."3-$.-.1$ ,3."21$%02, ".,-%1 !0.-$ %,)/%"%)"3 / ,3!.3%+ 0."210 .,04 8,-$ 3-),9!$9* -.05.6)!-*$.-%-*.3.6)!-."2n0 --$ &00 & -$%"#3.6)!--$ 3-),4( 3-./0 -$ /./ ,-)# -$ ,9."2-$ 1."2,.*/%1-!, 3."2-$ "-$ 00 !3*$.--$ *,%8),-$ %,6))59* 2)-$.-.0)--))4 & &6 ,*$.-* -.05 2.6)!-4 00 $%&$)*)!>, 8 0%"#4)">-%3-) 7/0.%"),2 31,%6 3)& -$%"#4$.-%3-)3. 9-$ & ."%"#)8G00H%3-)/,)+%2 %"8),&.-%)".6)!-3)& -$%"#9."2-$!39.1$ ,3. "21$%02, "., .60 -)!3 %-4

PAGE 97

AE ,-.%"*,%-"/,)#,.&3., .6)!-%-."29!$900 )!3)& -$%"#)!1."2)*%-$-$ 1$%02, "4 $ -$%,2& ."%"#)8G00H%3-$.-.1$ ,3."21$%02, "!"2 ,3-."23)& -$%"#4n")$ *),239-$ *),2G00H& ."3-$.-.1$ ,3."21$%02, ", 1)#"%: *$.-3)& $%"#& ."3."2 .1--)%-4 n8-$ ., &.29* 1."00 -$.--$ ., &.24 )*1.")!00 8,)&$%38.1 -$.-$ >33.2P 6rn &nn)& .1-%+%-),3 -)8.1-%+%-% 3%3.1)&/)" "-)8."3%-!.-%)"B-$ 3/ 1% 8%13)1%.0.1-%+%-), .1-%+%-% 3%"*$%1$-$ /.,-%1%/."-3., "#.#%"#L.1-%+%-% 3., 9%"-!,"9&.2 !/)8.3 =! "1 )8 .1-%)"3C4 4 ($.-%3-$ 0.,# ,),&.%".1-%+%-B),3 -)8.1-%+%-% 3C#)%"#)"%"-$ 3%!.-%)"P $ &.%".1-%+%-%3-)/, /., 1$%02, "8),5%"2 ,#.,"%"-$ /,) #,.&%"1$%02 1., 3 --%"#34.3 2)"-$ 3-."2.,238),5%"2 ,#.,"9.1$ ,3.1$1$%02, "*$.-1$%02, "" 2 -)5")**$ "-$ #)-)5%"2 ,#.,"2!,%"#*$)0 #,)!/98, /0.9."2& .0-%& 4% "1 .1$ ,36 0% + -$.-/, /.,%"#1$%02, "8),5%"2 ,#.,"%310)3 0 0.2-)-$ 31$))0>3 .11)!"-.6%0%-9.1$ ,38)1!3)"1$%02, ">3.1.2 &%135%003."21, .-$ 31$))01!,,%1!0!&-) 7/."2-$)3 35%0034$%3&.%".1-%+%-1)"3%3-3)83 + ,.03!6.1-%+%-% 39*$%1$., &.2 !/)8. "!&6 ,)82%88 "-.1-%)"34 )8-$ 3!6.1-%+%-% 3%3-)8)1!3)"1$%02, ">30%,.14$%33!6.1-%+% -1)"3%3-3)8 8.1%0%-.-%"#1$%02, ">30 .,"%"#-), .2."2*,%9$ 0/%"#1$%02, "6!%0 2.#))2+)1.6!0.,9."2 #%+%"#1$%02, ".")//),-!"%--) 7/ ,% "1 2%88 "7/, 33%)"34n"/., -%1!0.,9.1$ ,3-,-) $ 0/.1$%02*$)3/ .53"#0%3$.3.3 1)"20."#!.# /,.1-%1 ./ ,8 1-3 ""1 61),, 1-%"# -$ 1$%02>36,)5 ""#0%3$4$%3%36 1.!3 .1$ ,3., 1)"1 ," 2-$.--$ 1$%02&%#$-$.+

PAGE 98

A -,)!60 !"2 ,3-."2%"#.1$ ,3>*),23%"5%"2 ,#.,"."2&%#$-")-6 !"2 ,3-))2 6)-$ 1$%02, "),.1$ ,34 3 1)"23!6.1-%+%-%3-).33 331$%02, ">3.6%0%-% 34$ .%&)8-$%33 !6.1-%+%-%3-) 8%#!, )!-*$..1$1$%02.0, .25")*3."2" 23-)5")*4$%33!6.1-%+%-1)"3%33)83 %"# *$..1$1$%02%32)%"#-$,)!#$)" )")" %",.1-%)"98%00%"#)!-2%88 "-8),&38), .1$ 1$%029."25 /%"#-,.15)8 .1$1$%02>3/,)#, 3398), 7.&/0 91)&/0 %"# .1$1$%02>3/),-8)0%)4 -$%,23!6.1-%+%-%3-)1, .-$ 31$))01!,,%1!0!&6.3 2)"-$ 3-."2.,2 38), 5%"2 ,#.,"."2-$ #!%2 0%" 38),-$ /,)#,.&4$%33!6.1-%+%-1)"3 %3-3)82%31!33%"#-$ 31$))01!,,%1!0!&*%-$)-$ ,.1$ ,39#.-$ ,%"#%"8),&.-%)"-$,)!#$2%88 "-3)!,1 33!1$.3 /.,-%1%/.-%)"%".1)"8 "1 9."23$.,%"#2%88 "7/ ,% "1 3*%-$)-$ ,.1$ ,34$,)!#$ -$ 3 5%"23)8.1-%)"39.1$ ,3)6-.%"3/ 1%8%1%"8),&.-%)".6)!-1$%02, ">30 .,"%"#."21, .-$ 31$))01!,,%1!0!&-$.-&.7%&%: 3-$ 1$%02, ">30 .,"%"#46rnrnn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n-$%"5%"-$%31)!"--$ 5 /-,.15)8*$.31$))0-$ .-"2 26 8), 4)-$%331$))0*%006 1)& 5")*"9)!5")*9.3 %-$ ,6 %" # 71 00 "-),")-9.11),2%"#-)$)*&."1$%02, "5")**$.--$ 2-)5")**$ "-$ #)-)5%"2 ,#.,"4H$!39$ ,%"3-,!1-%)"&)3-08)1!3 3)"%"1, .3%"#1$%02, ">30%,.1."2 .00)*%"#1$%02, "-).11)&/0%3$-$ %,-.353* 00%"5%"2 ,#.,"4), 7.&/0 92!,%"#*$)0

PAGE 99

AA #,)!/-%& 93$ 3.3-).1$%029G($ ")!# --)5%"2 ,#.,"."2)!>, #)"".2)%-9)!" 2 -)3-.,-2)%"#%-%"-$.-*.9.00,%#$-Pr)--$%3*.4$.->3)5.8),-)2.9 H."2G)!1.">-2) -$%3."&), S1.!3 5%"2 ,#.,".1$ ,32)">-*."--$.-4($ ")!6 #%"6% #31$))09)! $.+ -)2)%-.")-$ ,*.4H$.-%3-)3.9 + "-$)!#$1$%02, "., %"./, 5%"2 ,#.,"10.33,))&."2-$ %,6 $.+%),."23/ 1$., ")-*,)"#93$ 231$%02, "-)6 .*., )8."2 /,.1-%1 *$.-5%"2 ,#.,".1$ ,3 7/ 1-%".2+."1 4 n".22%-%)"9$ ,,)0 %"$ 0/%"#1$%02, "6!%02.#))2+)1.6!0.,3 &3-)6 0.2-) -$ 31$))0>3.11)!"-.6%0%-4$ 3.3-$.-1$%02, "&%#$-$.+ -,)!60 *% -$-$ 3-=! 3-%)"3 *$ "-$ .2-$ &%8-$ 2)")-!"2 ,3-."29%8-$ 2)")-$.+ .#))2+)1.6!0.,9),%8$ 2)")--.05."20%3".0)-4n")-$ ,*),2393$ %3*),,% 2-$.-$ ,1$%02, "., ")-.60 -)3!11 2 %"31$))06 1.!3 )8-$ %,/)),+)1.6!0.,9."26 0% + 3-$.-.1$ ,3., 3/)"3%60 8), 2 + 0)/%"#1$%02, ">3+)1.6!0.,4$!393$ $ 0/31$%02, "6!%02.#))2+)1.6!0., %"2%88 "*.34), 7.&/0 92!,%"#& .0-%& 93$ &.5 3$ ,3.0.26$ ,3 08*$% 0 1$%02, "., .-%"# 0!"1$."2.3531$%02, "*$.-5%"23)8+ # -.60 33$ $.393.%"#G($)5")*3.+ # -.60 n$.+ ")*PH$ .00)*31$%02, "-)."3* ,-$ =! 3-%)"."2#%+ 31$%02, ".=!%15 7/0.".-% )")8-$ + # -.60 343., 3!0-93$ -,% 3-)#%+ 1$%02, ".1$."1 -)2 + 0)/.#))2+)1 .6!0.,.3)8" .3/)33%60 #.,20 33)8-%& ."2/0.1 9%"),2 ,8),1$%02, "-)3!11 2% "31$))04 n"3!&&.,93$ .3..1$ ,&.5 3 + 88),--)2 + 0)/1$%02, ">3+)1.6!0 ., 6 1.!3 3$ 6 0% + 3-$.-1$%02, ">33!11 33%"31$))02 / "23)"-$ =!.0%)8-$ 1$%02, ">3 +)1.6!0.,4!,-$ ,&), 9.3./, 5%"2 ,#.,".1$ ,93$ # -31$%02, ", .28),5%"2 ,#.," 6#%+%"#1$%02, ".1$."1 -)/,.1-%1 -$ 3-."2.,238),5%"2 ,#.,"4$!3 9$ ,,)0 .3..1$ %"$ 0/%"#1$%02, "6!%02.#))2+)1.6!0.,."2$ ,,)0 .3./, 5%"2 ,#.,".1$ ,%"# --%"# 1$%02, ", .28),5%"2 ,#.,"3 &-)6 1)"3%3"-0, 0 +."--)-$ 31$))0 >3.11)!"-.6%0%-4

PAGE 100

6rnrnn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n>&#)""..5 -$.-4H$%3 %"2%1.3-$.-3$ *."-31$%02, "-)3)0+ -$ /,)60 &6-$ &3 0+ 396!-3 $ $ 0/31$%02, "3)0+ -$ /,)60 &6, &%"2%"#1$%02, ".6)!-$)*-) 7/, 33-$ %,8 0%"#34 11),2%"#-)-$ 8%,3%",+% *2.-.9$ ,1$%02, "$.+ .0, .20 .," 2$)*-)2 .0*%-$-$%35%"2)8/, )60 &."2$)* -)3.-$ %,8 0%"#34)* + ,93%"1 1$%02, "2)")-.0*.3, & &6 ,$)* -)3.3)& -$%"#9 3$ &%"231$%02, ".6)!--$.-4$ 8), 9-$%33%-!.-%)"3$)*3-$.-3$ 231$%0 2, "-)# -$,)!#$-$ 3%-!.-%)"6!3%"#-$ *.3-$.--$ $.+ .0, .2 7/ ,% "1 24n")-$ ,*),239-$%3 3%-!.-%)"%"+)0+ 3..1$ ,1$%02, 0.-%)"3$%/9*$%1$%"2%1.3-$.-.1$ ,3 21$%02, "-) !"2 ,3-."2."2/,.1-%1 *$.-.1$ ,3., 3.%"#9."21$%02, "" 2-)8)00)** $.-.1$ ,3 7/ 1-4 n".22%-%)"9-$%33%-!.-%)"%"+)0+ 3.1$%021$%02, 0.-%)"3$%/4$%02, "0 .,"-$ .3-) # -.0)"#*%-$)-$ ,1$%02, "8,)&.1$ ,3."2., .60 -)%&/,)+ -$ %,, 0 .-%)"3$%/3*%-$)-$

PAGE 101

1$%02, "!3%"#-$)3 *.34%"1 1$%02, "2)")-.0*.3, & &6 ,$)*-)3.-$ %, 8 0%"#39 -$ )8"" 2.1$ ,3>$ 0/%".3/ 1%8%13%-!.-%)"4$!39-$%33%-!.-%)"#%+ 3 1$%02, "." )//),-!"%--) 7/ ,% "1 2%88 "-1$%021$%02, 0.-%)"3$%/36/,.1-% 1%"#-$ *.3-$.--$ $.+ .0, .20 .," 2-$,)!#$..1$ ,1$%02, 0.-%)"3$%/4$ 3 3)1%.0, 0 .-%)"3$%/3., 3-.6%0%: 2%"-$%33%-!.-%)"4$%3%36 1.!3 *$ + ,-$%33%-!.-%)"-.5 3/0.1 91$%02, ".35 .1$ ,3>$ 0/."2.1$ ,3%"3-,!1--$ 3.& -$%"#46rn nnrnn nnn"3%-!.-%)"%"+)0+ 33)1%.0#))23."2+% *3)"-$ %,2%3-,%6!-%)".3.1)&/)" "-4 @4 ($.-3)1%.0#))23B 4#493-.-!39/)* ,9.3/ 1-3)8# "2 ,9,.1 9."210.339),& ), ".,,)*02 8%" 23)1%.0" -*),53."2%2 "-%-% 3C., 0 +."-B."2%,, 0 +."C%"-$%3 3%-!.-%)"P)*., -$ &.2 0 +."-B."2%,, 0 +."-C9."2%"*$.-*.3P $ 1!,,%1!0!&)8-$ 10.33,))&%36.3 2)"6)-$-$ #!%2 0%" 38),-$ /,)#,.&."2-$ 31$))01!,,%1!0!&-$.-$.32 + 0)/ 2)+ ,-$ .,34n"# ,.09-$ /, 5%"2 ,#.,".1$ ,32 1%2 .-$ & .1$* 56.3 2)"-$ 31$))01!,,%1!0!&."2-$ "1$))3 *$.--)2)*%-$-$.--$ & !3%"#-$ #!%2 0%" 38),-$ /,)#,.&4($ "-$ .1$ ,32 1%2 *$.--)2)9-$ -$%"5.6)!-*$.-1$%02, "" 2-)5")*-)#)-)5%"2 ,#.,"."2-$ "3 0 1-3)& 35%003.&)"#-$ 35%003-$.--$ /,)#,.&3!## 3-34$ /, 5%"2 #.,".1$ ,3 %"1),/),.-$)3 35%003%"-)-$ 1!,,%1!0!&)8-$ 10.33,))&4)* + ,9-$ &. <),%-)8-$ 1!,,%1!0!&)8-$ 10.33,))&1)"3%3-3)8-$ #!%2 0%" 38),-$ /,)#,. &,.-$ ,-$."-$ 31$))01!,,%1!0!&4$%3%36 1.!3 -$ .1$ ,38)1!3)"$.+%"#1$%02, "/,.1%1 -$ 35%003-$.1$%02, "" 2-)5")*-)#)-)5%"2 ,#.,"."21$%02, "3/ "2&!1$-%& /,.1-%1%"#-$)3 35%0034), 7.&/0 9%8-$ .1$ ,31$)3 110%"#.3.-$ & 9-$ .1$ ,3&%#$-$.+ 1$%02, 2,.*-$%"#3.6)!--$ .,-$9/.%"-.,%+ ,9-.05.6)!--$%"#3-$.-*)!020%+ %".,%+ ,9."2, .2 .6)!-, 110%"#43., 3!0-9-$ 1!,,%1!0!&)8-$ 10.33,))&%32)&%"."-0 1)"-,)00 26 -$ 3-."2.,238),5%"2 ,#.,"9 + "-$)!#$-$ 10.33,))&%3.1$%021., 3 --% "#4

PAGE 102

$ 2)&%"."-3-.-!3)8-$ 3-."2.,238),5%"2 ,#.,"%"-$ 1!,,%1!0!&)8-$ 10.33,))&.// .,3-$,)!#$$ ,3/ 1$4), 7.&/0 92!,%"#*$)0 #,)!/-%& 93$ 3 .39G)! 29n5")*)!1."2)%-9".& )"%-*%-$.00-$ 1./%-.034$.->3, .00#))296!-$ 5%"2 ,#.,".1$ ,390 -& 3$)*)!9-$ *."--$ 1./%-.0GH0%5 )!2)9-$ "0%--0 G.9H 0%--0 G69H0%--0 G,9H0%--0 G%9H0%--0 G 9H."20%--0 G09H+ 6 "$.+%"#)!2))!, ".& )"-$)3 9)!,".& /./ ,34)!" 2-)3-.,-2)%"#%-%"-$.-*.9)5.PH$%3%"2%1 .3 -$.--$ 3-."2.,238),5%"2 ,#.,"8%7-$ *.1$%02, "*,%-$ %,".& 3. "2" 21$%02, "-) 8)00)*-$.-*.4n"),2 ,-)#)-)5%"2 ,#.,"9/, 5%"2 ,#.,"1$%02, "" 2-)5")* ."2 /,.1-%1 -$ *.)8*,%-%"#-$ %,".& 34$!39.1$ ,3%"+)0+ -$ *.%"$ 1!,,%1!0!&)8-$ 10.33,))&3%"1 -$ 3$)!02/, /., 1$%02, "8),5%"2 ,#.,"4n")-$ ,*), 239-$ *.)8 *,%-%"#1$%02, ">3".& 36.3 2)"-$ 3-."2.,238),5%"2 ,#.,"%31)"3%2 2-) 6 /,)/ ,%" -$ 10.33,))&9."2-$%3%"2%1.3-$ 2)&%"."-3-.-!3)8-$ 3-."2.,238),5%"2 ,# .,"%" -$ 1!,,%1!0!&)8-$ 10.33,))&46rn rr rnnn"."3%-!.-%)"-$%"#3., 1)"" 12),2%31)"" 129, 0 +."--)),%,, 0 +."--) .1$)-$ ,9%" 1 ,-.%"*.34 D4 ($.-3),-3)81)"" 1-%)"3N0))5%"#6.15*.,2."2I),8),*.,2N., &.2 *%-$%"."2.1,)33!-,."1 3."20.,# 3-, -1$ 3)8-$ %",.1-%)"P !,%"#-$ 8%,3-8),&.0%",+% *93$ 3.3-$.-%-%3/, -.3 -)!"2 ,3-."2*$.1$%02, "., 8 0%"#6 1.!3 1$%02, "., 8, 0)/ "."22)")-$%2 -$ %,8 0% "#34 !"2 ,3-."2%"#)81$%02, ">38 0%"#3$ 0/3$ ,$.+ &), 88 1-%+ %",.1%)"3*%-$1$%02, 6 1.!3 3$ %3.60 -)-$%"5.6)!-*$.-1$%02, "., #)%"#-)2)."2, .1--)%-%".". //,)/,%.*.4n"/.,-%1!0.,93$ &/$.3%: 3-$.-$ ,.1$%"# 7/ ,% "1 ". 60 3$ ,-) .3%08%#!, )!*$.-1$%02, "., 8 0%"#93.%"#G$.->3-,! 9 7/ ,% "1 &.5 3. 6%#2%88 "1 4H$.-%3-)3.9

PAGE 103

' $ ,.1$%"# 7/ ,% "1 $ 0/3$ ,!"2 ,3-."21$%02, ">38 0%"#3."2$ ,!"2 3-."2%"# ".60 3 $ ,-) 88 1-%+ 0%",.1-*%-$1$%02, "4$!39-$)3 !-,."1 33$)*-$.-$ ,.1$%"# 7/ ,% "1 /)3%-%+ 0%"80! "1 3$ ,*.)8%",.1-%"#*%-$1$%02, "4 n".22%-%)"92!,%"#-$ 3 1)"28),&.0%",+% *93$ 3.3-$.-$ ,.1$%"# 7/ ,% "1 ".60 3$ ,-)6 1)& &), 0.7 2*%-$-$ *.)8.1$%"#."2-$ *.)88 0%"#4n83$ !3 2 .1 ,-.%"*.."28)!"2-$.--$ *.*.3")-*),5%"#93$ -,% 2.")-$ ,*.%"),2 ,-)8% "2-$ 6 3-*.-)%",.1-*%-$1$%02, "4$!393$ .00)*31$%02, "-)-.05.0%--0 6% -,.-$ ,-$." 8)1!3%"#)"10.33,))&2%31%/0%" 93.%"#9GnR+ 6 1)& 0.7 2."2n.&.6 0 -)$.+ &), 8!" *%-$-$ &3)& -%& 3-$."n!3 2-)4 1.!3 n>&9n!3 2-)6 .8,.%2)80)3%"#1)",)09)! 5")*9-$.--$ #)"".#)1,.:."2n*)!02">-6 .60 -)1)"-,)0%-4!-n2)">9n2)">-8 ., -$.-."&), 96 1.!3 nR+ $.23)&!1$ 7/ ,% "1 n5")*n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

PAGE 104

? .6)!--$ %,)*"*.3-)%",.1-*%-$1$%02, "."28%"2.6 -,*.)8%",.1%"#*%-$1$%02, "4 $!39-$ .1$ ,3$.+ #))2, 0.-%)"3$%/3*%-$)-$ ,.1$ ,363$.,%"#-$ %, 7/ ,% "1 3*%-$ )-$ ,.1$ ,39."2-$%3%"2%1.3-$.-.1$%"# 7/ ,% "1 /0.3."%&/ ),-."-,)0 %"&.%"-.%"%"# #))2, 0.-%)"3$%/36 -* ".1$ ,343., 3!0-9.1$%"# 7/ ,% "1 %31)"3%3"-01)"" 12-) -$ 0.-%)"3$%/3.&)"#.1$ ,3.3* 00.3-$ %",.1-%)"36 -* ".1$ ,3."21$%02, "4$%3 %36 1.!3 .1$ ,3., .60 -)0 .,"." 7.&/0 )8 88 1-%+ .1 $ ,1$%02%",.1-%)"8,)&)-$ .1$ ,3> 7/ ,% "1 39."2#))2, 0.-%)"3$%/3.&)"#.1$ ,3/,)+%2 1$ ,3*%-$.6 -, 1$."1 )83$.,%"#-$ %, 7/ ,% "1 3*%-$)-$ ,.1$ ,346rnr r nnrnnrn5r+nnn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

PAGE 105

@ 8),-$ /,)#,.&96!-3$ $.3-)8)00)*-$ #!%2 0%" 36 1.!3 -$ #!%2 0%" 3., +.0! 2."2 3$ %3/)* ,0 33.#.%"3--$ #!%2 0%" 3%"-$ 10.33,))&4 n".22%-%)"92!,%"#-$ 8%,3-8),&.0%",+% *93$ /)%"-3)!--$.-.1$ ,3$.+ & ), /./ ,*),5.8,-$ /,)#,.&3-.,293.%"#9G$ >3&), ."2& ), /./ ,*),59."2&), .2%"#9)!5")*9&), .002)%"#*%-$ .1$1$%02)" )")" -))4"2* 2%2%-6 8), 96 !%->39* 2)">-, .002)-$.-&."&), 2%88 "--$%"#34H$%3%&/0% 3-$.3$ 1)"3%2 ,3&!1$ /./ ,*),5.36!,2 "3)& 4)* + ,92!,%"#-$ 3 1)"28),&.0%",+% *93$ 3.3 9Gn-$%"5%" -$ 0)"#,!"%-R3#))29!&9%-2) 3-.5 &), )8)!,-%& ."2&), 9!$9-$ >3&), /, 33!, )" !39)!5")*9-)&.5 3!, -$.--$ R, 2)%"#*$.--$ 2-)2)4)-$.-9-$.-/.,-)8%-% 3$.,29 6!-n-$%"5%-%3.#))2-$%"#96 1.!3 -$ ., .0)-)8.1$ ,3n-$%"5-$.B4C%8-$ 2)"R, .001., .6)!--$ 1$%02, "-$.-&!1$9-$ *)">-2)."-$%"#9-$ --.05-)-$ &9-$ 2)"R-2)."-$%"#4!-")*%8-$ R, 2)%"#-$ 9B4C-$ $.+ ) $.+ .8)02 ,8), .1$1$%02-$.-3$)*3-$ %,/,)#, 334$ $.+ -).33 33 .1$1 $%029-$ $.+ 3)& 5%"2)88),&-$.--$ 8%00)!-4)-$ $.+ -)6 9)!5")*92)%"#*$.--$ R, 3!//)3 2 -)6 2)%"#4)n-$%"5%-R3, .00#))2%"-$ 0)"#,!"9%-R3$.,2 ,B$.9$.C%-R3&), 8 ),!36!-9 B4Cn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

PAGE 106

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n8)!"2, .00&.5 3-$%"#3&), 88 1-%+ 4H$.-%3-)3.96!3%"# .3)"#9.1$ ,3., .60 -) .3%0%"+)0+ 1$%02, "%".".1-%+%-6 1.!3 1$%02, "<)3%"#% "#.3)"#."2$.+ #))28 0%"#*$ "-$ ., 3%"#%"#.3)"#4), )+ ,93$ 3.39G( %"8),1 *$.-* >, -.05%"#.6)!-%")-$ ,*.34( 2)3)"#39.0)-)83)"#34%5 -)2.* 3-.,20 .,"% "# + 110%"#3)"#4$.->3.")-$ ,*.-$.-* & &6 ,-$.-9-$ >, 3%"# %"#9-$ & &6 ,-$.8),* 539-$ 0 .,"-$ 3)"#9."2-$ 0%5 %-4 .$9-$ 3-%00.35!38),-$ 3)"#3* >+ 2)" 6 8), 9)"-$ 2%88 "-3!6< 1-396 1.!3 %-3-.3%"-$ %,&%"23%8-$ 3% "#43/ 1%.009%8-$ &)+ -)%-9-$ 5")*8,)&-$ 0.3-, 3 .,1$-$.-%8.1$%023%"#33)& -$%"#."22) 33)& -$%"# /$3%1.09%-3-.3%"-$ %,6,.%"0)"# ,4H$.-%3-)3.9.1$ ,36 0 % + -$.-3%"#%"#.3)"#%3. 3!11 338!0*.-)&.5 1$%02, "!"2 ,3-."2."2, & &6 ,*$.-.1$ ,3., 3. %"#9."2-$!39 -$ 8, =! "-0%"1),/),.3%"#%"#.3)"#%"-)-$ 31$))01!,,%1!0!&43., 3 !0-93%"#%"#.3)"# %31)"3%2 2)" )8-$ *.3)85")*%"#4 ")-$ ,*.)85")*%"#%3)" )")" %",.1-%)"4$ 3.39Gn$.2.0, .2#%+ "-$ & 3)& 7.&/0 3 .,0% ,9."2-$ "*$ "n1.00 2)")" 1$%029."2-$ 3-.,2-)-.0 5.6)!-%-9."2 -$ "-$ 1)!02-$%"5)8-$ *),2393)n5%"2)8$ 0/-$ &."2-$ "-$ ., .60 -)#%+ -$.-% 2 .4 )* $.2)" )")" %",.1-%)"39)!5")*9n-.05-)-$ &."2-$ "-$ 3.-$%"#36.15)

PAGE 107

E & 4n-$%"59n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n-,-)-.05-)-$ &9."23)& -%& 3-$ -96 1.!3 -$ 2)"R-5")*"#0 %3$ + ,* 009-$ 2)">-!"2 ,3-."2*$.-n>&3.%"#4%5 -)2.9!&9B4C)" 0%--0 6 )1.& !/9 !$9n-$%"5$ R38,)&), .."29!$9$ "2n.35$%&9S($.-2))!*."--)2)*%-$-$ 1.,P> *."2-)# --$ 1.,3)!--)/0.*%-$-$ &96!-$ -

PAGE 108

#)*%-$S1.,4>"2-$ "nS 39>."2$ "n3.%29 S)!" 2-)3.-$.-4>"2$ !-n-$%"5$ 9$ 8 0-%"-%&%2.26 1.!3 $%3+ ,6.035% 003%""#0%3$., ")+ ,#))2 -4)n8 0--$.-n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n")-$ ,*),239-$ 0."# !.# 6.,,% 1."6 .3%0)+ ,1)& %"$ ,10.33,))&-$,)!#$1$%02, ">3/,)#, 33-)*. ,23"#0%3$9."2 1$%02, "., .60 -)!"2 ,3-."2*$.-.1$ ,3., 3.%"#.8,.*$%0 4r + ,-$ 0 339-$ 3%-!.-%)" *$ "-$ ), ."6)2) 3")-!"2 ,3-."2*$.-.1$ ,3., 3.%"#%31)"3%2 2% 88 1-%+ 6 1.!3 3$ 2 8%" 3.1$%02>3&%3!"2 ,3-."2%"#)8*$.-.1$ ,3., 3.% "#.3%" 88 1-%+ .1$ ,1$%02%",.1-%)"4$!393$ *."-3-$ ), ."6)-)/%15!/"#0%3$. 33))".3/)33%60 6 7/, 33%"#$ ,2%33.-%38.1-%)"*%-$$%33/ 2)80 .,"%"#"#0%3$98), 7.&/0 9Gn-$%"5$ 3/ .53), .".-$)& 9-$ 9-$ /., "-32)">-5")*"#0%3$+ ,* 004)-$.-&.5 3%$.,2 8),$%&96!-$ >00# -%-B$.9$.C4H3., 3!0-9.11),2%"#-)$ ,2 8%"%-%)")8 88 1-%+ .1$ 1$%02%",.1-%)"9"#0%3$."2), ."., 0 +."-%"-$ 3%-!.-%)"*$ ".1$ ,32)")88 1-%+ 0%",.1-*%-$)" ), ."6)6 1.!3 )8$%3&%3!"2 ,3-."2%"# )8*$.-.1$ ,3., 3.%"#4

PAGE 109

A n! rn r0nr n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n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

PAGE 110

".,,.-%+ 3$)*3$)*-$ %",.1-%)"36 -* "$ ,."21$%02, "., ".126 -$ #!%2 0%" 38), -$ /,)#,.&3$ $.3-)8)00)*.3* 00.3$)*-$ 2%31)!,3 3-$.-1)"3-%!-$ 3 %",.1-%)"3., 1)"8%,& 2-$,)!#$-$ 8),&3)8,!0 3),"),&34r n)&nn-.":. .1$ ,33 1$%02, ">3/)3%-%+ .1-%)"-)-$ %,*), 23 4 )!1."00*$.-%3 88 1-%+ 4 6 1.!3 )!3 -$ 1$%02%3$.//),3.-%38% 29 '4 ),-$ >, /,)!2)8-$ &3 0+ 38), ?4 *$.+ ,-$ 2%31!33 2.6)!-)!9*%-$)!4 !1n( nnnnnrnrn rnn5rr nnn !n2 8%-3)81$%02, "!3%"#-$ %,)*"*),23 !63!63-), .1$ ,3" 21$%02, "-)2)*$.--$ ., 3.%"# -.":. .1$ ,33.3)& -$%"#-)# -2 3%, 2.1-%)"38,)&1$%02, @4 "2)!1."00*$ "-$ >, ")-3!11 338!09 D4 6 1.!3 -$ >, 9 E4 )!>, #)"".# --$ .1-%)"-$.-)!2 3%, 29-.":.' .1$ ,3" 21$%02, "-)2)3)& -$%"#-$.-.1$ ,3 7/ 14 0%5 %8)!* 00%"#-$ &-$ *),29 A4 G.")!!3 )!,*),23-)3 -!/%"3.2)8$%--%"#)!,8,% "23PH 4 ),9G.")!/!--$%3.*.),3)& -$%"#0%5 -$.-PH-.":.? .1$ ,3-,-)8%"2.3!11 338!0*.)81),, 1-%"#1$%02, ">3& %36 $.+%), 4 "2)!1."3 -$.--$ >, 3-%00!/3 -.6)!-3)& -$%"# 4 ),-$ >, ")-0%3"%"#-))!-$.-2.9 '4 -$
PAGE 111

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

PAGE 112

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n!3!.00!3 $ 9 ?4 6.3%1.00n*)!02">-3. ?4 -$ >3.3/ 1%8%13-,.#.3n-.05-)-$ 5%239 ?'4 n-.05-)-$ &0%5 9n-.05-)."6)2 03 9 ??4 00-$ &*$.-n*."--.":.'$%02, "8 0+.0! 2*$ 7/, 33%"#-$ %,8 0%"#3 ?@4 ."2.35-$ &*$.--$ *)!020%5 -)9 ?D4 ."2
PAGE 113

' -.":.? .1$ ,3$ 0/1$%02, 7/, 33*$.--$ ., 8 0%"# ?4 "2* -,-)$ 0/-$ &-) 7/, 33*$.--$ >, 8 0%"#-))4 ?A4 "23)& -%& 3-$ 5%23*%00$.+ -$ *),23-)!3 9 @4 3)n, 8 0%"# @4 ."2-$ "00-$ &*$.-n>&8 0%"#9 @4 ."200-$ &*$.-n*)!020%5 -)$ 0/-$ &4-.":.@$%02, "0 .,"$)*-), 3/)"2-))-$ ,38,)&.1$ ,3 @'4 "2!3!.00n>&, 3/)"2%"#-)-$ &%"-$ 3.& *. @?4 -$.--$ >003 )!>, -.05%"#-)-$ &%".1 ,-.%"*.9 @@4 -$ "-$ >00-.05-))!%"-$ 3.& *.4-.":.D$%02, "0 .,"$)*-)%",.1-*%-$)-$ ,3 @D4 $ >, 90%5 9 ,)"%1.2) 3"R-0%5 -$%3 @E4 ."2n2)">-0%5 -$%3 %-$ ,3) @4 -$.->3$)*-$ %",.1-*%-$-$ %,3 0+ 39 @A4 *%-$-$ %,9-$ %,/ ,34 !n3 ,*.)82 .0%"#*%-$%" 88 1-%+ .1$ ,1$%02%",.1-%)"3 !63!63-),@"$.//1)"+ ,3.-%)"3*%-$1$%02, "., 1)"3%2 2%" 88 1 -%+ -.":.E"$.//%",.1-%)"3*%-$1$%02, "., 1)"3%2 2%" 88 1-%+ D4 ($.-n*)!021)"3%2 ,%" 88 1-%+ %39 D4 ."%",.1-%)"-$.-2) 3">-0 .+ 9 D4 & ."2-$ 1$%026 %"#$.//.8,*.,234-.":.$ -,% 3-)8%"2*$.-&.5 31$%02, "!/3 D'4 )-$.-*.39."3%-!.-%)"*$ n1)!02$ 0/-$ 1$%029

PAGE 114

? D?4 -)8%#!, )!-*$.-*.3&.5%"#-$ &!/3 D@4 ),*$.-*.31.!3%"#-$ &")--)&.5 -$ 1$)%1 3-$.-2.-.":.A$ $.3-,)!60 1)"+ ,3%"#*%-$.3$."2=!% -1$%02 DD4 ),90%5 /%3)2 ./.,-%1!0.,0=!% -1$%029 DE4 ")-6 %"#.60 -)1)"+ ,3 *%-$-$.-1$%029 D4 6 1.!3 -$ >, 9&.6 -$ >, 3$),2)">-*."--)-.05-)& 4 -.":."$.//1)"+ ,3.-%)"3*%-$1$%02, "., 1)"3%2 2%" 88 1-%+ DA4 $.->3*$.-n*)!021)"3%2 ,%" 88 1-%+ 9 E4 %8* >, ")-$.//.--$ "2)8-$ 1)"+ ,3.-%)"9 E4 )" )8!3%3")-$.//4 E4 ( 6)-$*."".*.05.*. E'4 ."2-)6 $.//%"-$ 3%-!.-%)"*%-$-$ /,)60 &3)0+ 29 E?4 n-$%"5%->3%" 88 1-%+ 4 !63!63-),D$ .353)-$ ,.1$ ,33)& 3!## 3-%)"3-)3)0+ -$ /,) 60 & -.":.$ 5 /3-,%"#-)3)0+ -$ /,)60 & E@4 ( >000%5 95 /-,%"#!"-%0n2)4 ED4 n5 /-,%"#!"-%0n2)9 EE4 2)">--8%#!, %-)!--$ "9 EA4 n*%00#)-).")-$ ,.1$ ,9."2-$ "90%5 9 4 G( 0091.")!$ 0/& *%-$-$%33%-!.-%)"PH-.":.'$ # -33)& %2 .3.6)!-$)*-)3)0+ -$ /,)60 &8,)&)-$ ,.1$ ,3

PAGE 115

@ 4 ),%8-$.-2) 3">-*),5)!-9 4 *$%1$-$.-$.3">+ ,6 "-$ 1.3 9 '4 -$ "n*%00#)-)9&.6 -$ 2%, 1-),4 ?4 33&2%, 1-),.3539G($.-2))!-$%"5PH @4 -)# -3)& 3!## 3-%)"3)"$)*1."n3)0+ -$ 3%-!.-%)"4 !n4 )3%-%+ 88 1-3)8-$ /,)#,.&)"# --%"#1$%02, ", .28),5%"2 ,#.," !63!63-),E/,)#,.&$ 0/31$%02, "0 .,"$)*-)%",.1-*%-$)-$ 3 -.":.? ,/ ,3)".0 7/ ,% "1 &.2 $ ,0)+ -$ /,)#,.& D4 n0)+ -$ /,)#,.&4 E4 ($ "%-8%,3-3-.,29n/!-&2.!#$,%"%4 6 1.!3 ")+ ,6)2" 23-)#)-)/, 31$))039 A4 3)-$ >3.0)-.-$)& *%-$&)&34-.":.@$%02, "0 .,"$)*-)%",.1-*%-$)-$ ,3-$,)!#$-$ /,)#,.& A4 "23)n0)+ $)*%-# -3-$ &, .28),5%"2 ,#.,"9n& ."4 A4 )n0)+ -$.-9-$ 5%23., 0 .,"%"# A4 $)*-)%",.1-*%-$)-$ ,5%23-$ %,)*".# A'4 *$ "-$ + 6 ".-$)& *%-$-$ %,&)&39 A?4 -$ >, ")-# --%"#."%",.1-%)"3*%-$&)&34-.":.D$%02, "0 .,"$)*-$ 3$)!026 $.+ %"31$))0-$,)!#$-$ /,)#,.& A@4 n0)+ $)*-$ >, 0 .,"%"# AD4 *$.-%3 7/ 12)8-$ &%".10.33,))&3 --%"#9-.":.E/,)#,.&$ 0/31$%02, "0 .,"$)*-)%",.1-*%-$)-$ ,.2!0-3 AE4 ."2n0)+ $)*-$ 0 .,"

PAGE 116

D A4 -$.--$ 1.".1-!.00-,!3-.")-$ ,#,)*"!/9.")-$ ,.2!0AA4 -$.->33)& )" -$.-%3")--$ %,/., "-34-.":.$%02, "1."-,!3-."2$.+ #))2, 0.-%)"3$%/3*%-$)-$ ,.2!0-3 4 $ 1."9-$ 1."#,)*-)0)+ !3."2 + ,-$%"#9 4 $.+ #, .-, 0.-%)"3$%/3*%-$)!,5%234 4 n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

PAGE 117

E D4 )%->30 33-,.!&.-%18),-$ &*$ "5%"2 ,#.,"9 E4 *$ "-$ %,/., "-30 .+ 9 4 6 1.!3 ")*-$ >+ #)-"!3 2-)5")*%"# A4 -$.--$ %,/., "-3., #)%"#-)1)& 6.15.--$ "2)8-$ 2.9 -.":.'/,)#,.&$ 0/31$%02, "3!11 2%"31$))0 4 ."2-$ ., .28),%-9 4 n0)+ -$.-.353-$ &-)6 .28),5%"2 ,#.," 4 -)6 3!11 338!0%"-$ 31$))04 !63!63-),A/,)#,.& ".60 31$%02, "-)6!%02.#))2+)1.6!0., -.":.'' .1$ ,3-.05-)1$%02, ".3&!1$.3-$ 2)%")-$ ,10.33,))&3 '4 n*)!02">-3.-$.?4 -$.-%3."2%88 "--$.".", #!0.,/, 31$))0/,)#,.&39 @4 6 1.!3 3-%00-.05-)-$ 5%239 D4 -.05-)-$ &, %".)" .,)02,))& 4 .3-$ >, %".8)!, .,)02,))&9 -.":.'?$%02, "6!%02.+)1.6!0.,-$,)!#$1)"+ ,3.-%)"3*%-$.1$ ,3 A4 >, 1)"3-."-03/ .5%"#*%-$-$ 1$%02, '4 -$.->3$)*-$ 0 .,"-$ %,+)1.6!0., '4 ."2$)*-$ 0 .,"$)*-)%",.1-*%-$.2!0-3."2)-$ ,/ )/0 4 -.":.'@$%02, "$.+ -,)!60 6 %"#/, /., 28),5%"2 ,#.,".-$)& '4 )n3 6.3%1.00%39$.3$ 0/ 2-$ 5%23 ''4 *$)2%2">-$.+ ."/, 31$))06 8), $."2

PAGE 118

'?4 -$ 2%2">-$.+ 92)">-$.+ &."6,)-$ ,3."23%3,3.-$)& '@4 ),-$ 2)">-9-$ 2)">-$.+ .")-$ ,*.-)# -, .28),31$))04 'D4 n3 -$.->3*$.-/,)#,.&3$.+ 6 8%2.&)"#!34 !n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

PAGE 119

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

PAGE 120

DA4 .0-$)!#$-$ $.+ .002.-)6 *%-$-$ .1$ ,39 E4 S1.!3 -$ $.+ -$, $)!,3*%-$!39 E4 ."2-$ 3-%00$.+ -)# -, 1)"3-."-0*),5%"#9 E?4 >, 1)"3-."-0.1$%"#&), -$." E@4 %8* %".8!002./,)#,.&4 (rnn!1nnnnnnnn&rn n n &n r rn+n rnnnn&n nrnrn rnn n5rrnn -.":.?@ .1$ ,3" 2&), -%& -)1)"+ ,3 *%-$1$%02, "&), 8, =! "-0 ED4 ( 1."3-%00.1$-$ &1)"3-."-0-$ *),239 EE4 6!-* >00$.+ /0 "-)8-%& E4 -).03)1)"+ ,3 *%-$1$%02, "-))9 EA4 6 1.!3 $.+ .*$)0 2.-)# --$%"#32)" 4 %"3.2)8-$ -$, $)!,34 .60 ?4 ,)"%1.>310.3331$ 2!0 A ",3 A@$., -%& 90/$.6 -1$.00 "# 9,)< 1-A'/ 1%.010.33 @ .-$,))&6, .53 ".15 '@ 0 ."!/ ?@ n"2)),8% 02-,%/ %,10 -%& '@ ,)< 1-3 "2)8-$ -%&

PAGE 121

!&rn6rn5n6rnr r nn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n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n"/.,-%1!0.,93$ !3 3-$ *),2G3 H*$ "3$ 231$%02, "-)0% 3"-)$ ,3/ 1$

PAGE 122

."2-)!"2 ,3-."2*$.-3$ %33.%"#4$.-%3-)3.9*$ "3$ 8%"23)" 1$%02*$)2) 3")-1)"1 "-,.)"$ ,3/ 1$),./.,-%1!0.,.1-%+%-93$ !3 3-$ *),2G3 H ,.-$ ,-$."2%, 1-0 /)%"-%"#)!--$ 1$%02>3&%36 $.+%),93.%"#9Gn2)">-3 .00>3 3),; .& 3>34n2)">-3 1,%331,)33.//0 3.!1 8,)&!,0 4H .,)0%" 91."n3 )!, 39/0 .3 P.,)0%" 91."n3 )!, 3P + "%8-$ 2%2">-0%5 3)& -$%"#),-$ >, &.5%"#.6.21$)%1 ,%#$-")*90%3"*$ -$ R, 2)%"#-$.-9%8-$ 9)!5")*9-$ 3 .00n, .00*."2%-93)& 6)2-)/..-"-%)"-)& .--$.-&)& "-4 r 7-93$ 8, =! "-0!3 3-$ *),2G0 .,"9H."2%-$.38)!,2%88 "-3%-!.2& ."% "#34 %,3-9-$ *),2G0 .,"H& ."3-$.-.1$ ,3."21$%02, "3-.,--)!"2 ,3-."2-$ 8.1--$.--$ $.+ -)1$."# -$ *.-$ 6 $.+ 4$!39-$ 8.1--$.-1$%02, "G0 .,"H$)*-)%", .1-*%-$ )-$ ,3& ."3-$.-1$%02, "$.+ 6 #!".15")*0 2#%"#-$.--$ 2-)1$."# -$ %,)* "*.)8 %",.1-%"#*%-$)-$ ,36, 80 1-%"#)"-$.-*.4 n0)+ $)*B4C-$ 0 .," -$.--$ 1.".1-!.00-,!3-.")-$ ,#,)*"!/9.")-$ ,.2!0-$.->33)& )" -$.-%3")--$ %,/., "-34( >, 1)"3-."-03/ .5%"#*%-$-$ 1$%02, "9-$.->3$)*-$ 0 .," -$ %,+)1.6!0.,."2 $)*-$ 0 .," $)*-)%",.1-*%-$.2!0-3."2)-$ ,/ )/0 4 1)"29-$ & ."%"#)8G0 .,"H%3-)# -%"8),&.-%)".6)!-." *3!6< 1-),.1-%+% -4 11),2%"#-)$ ,3/ 1$91$%02, ".0*.3G0 .,"H3)& -$%"#9."2-$%3& ."3 -$.-1$%02, 1)"3-."-0#.%"" *8.1-38,)&-$ %,3!,,)!"2%"#34 n*."".3.-$.--$ 1."1$."# -$ %,1!,,%1!0!&%8-$ *)!020%5 -)3.9G 5.9* *."".0 .," .6)!--$.-9H6!-.00-$,)!#$)!--$ 2.9-$ >, 0 .,"%"# .6)!-3)& -$%"# 03 -$.-&%#$-")-6 )!,1!,,%1!0!&96 1.!3 -$ >00.353 + ,.0=! 3-%)"34( $.+ ">-$.2&."/., "-31)& %"B'4C."23.9G($ "1."-$ 0 .," .6)!--$%3."2 0 .," .6)!--$.-PH( $.+ $.2-$.-6!-* 3.9G 39)!>, 01)& .3* 004H $%,29-$ & ."%"#)8G0 .,"H%3-), & &6 ,3)& -$%"#-$,)!#$, / -%-%)"4,)& -$ %",+% *2.-.96)-$3%"#%"#.3)"#."2/., "-%"+)0+ & "-., 1)"3%2 2 88 1-%+ *.3-)

PAGE 123

' &.5 1$%02, ", & &6 ,.1$ ,3>*),234(%-$%"-$)3 1)"7-39-$ 8.1--$.-1 $%02, "G0 .,"H 3)& -$%"#%"10.33,))&3& ."3-$.-1$%02, "5 /%"&%"2*$.-.1$ ,3., 3 .%"#6, / .-%"# %-&."-%& 34 n->30%5 1)"8%,&%"#*$.-* ., .0, .2.1$%"#-$ 5%23."2-$ "9."2-$ "-$ /., "-3 .1$-$ &-))6 1.!3 -$ 5%230 .," -$,)!#$, / -%-%)"9."23)%-$ 0/3-$ 5%2)!-&), 9 ."2-$ 3 &0%5 -$ &), 3!11 338!0%"31$))0."2%"10.33*$ -$ %,/., "-3$ 0/-$ & .-$)& -)0 .," -$ 3.& -$%"#4 n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rn &nn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

PAGE 124

? &.<),3!6.1-%+%-%3-)%"+)0+ 1$%02, "%".".1-%+%--)2 + 0)/-$ %,.6%0 %--), .2 ."2*,%4), 7.&/0 92!,%"#*$)0 #,)!/-%& 9.1$ ,3.359G($.-%3-$ 0 -,-$.-3)!"23 S>PH),G($.-3-.,-3*%-$S>PH .1$ ,3/%15)" 1$%02.&)"#1$%02, "* $)*."--)."3* -$ =! 3-%)"."2,.%3 -$ %,$."24n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

PAGE 125

@ 1.8 ,%.9."22!,%"#8, /0.-%& 9-$ #))!-3%2 ."23/ "2-%& %"-$ /0 .#,)!"2403)9 1$%02, "#)-)2%88 "-,))&39%"10!2%"#./,)< 1-,))&9%"),2 ,-)/.,-%1%/.%"2%88 ".1-%+%-% 34$ 3.39Gn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rnrn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n8 00 %"0)+ *%-$-$.-/,)#,.&9n0)+ 2%-9n8 0-%-#)--$ &, .28),31$))09!&9& !1$-)& 9n3*$ n*."".6 4H$.-%3-)3.93$ .3.&)-$ ,3 .*-$.--$ /,)#,.&/,)+%2 2$ ,2.!#$,*%-$)//),-!"%-% 3-)0 .,"-$ 1 33.,35%003 8),5%"2 ,#.,"9

PAGE 126

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nB'4C 0)+ -$ ),#."%:.-%)")8-$ 96 1.!3 %-%3.8.3,/.1 -$."96 1.!3 %-%3&), 0%5 5%"2 ,#.,"."2 0%5 n3 -$ 2%88 "1 3%"-$)3 1$%02, "8,)&*$ "-$ 3-.,-*%-$!3-)*$ "-$ 0 .+ 4n-%3. -)-.02%88 "1 9-$.-n5")*n$.+ 1)&/0 8.%-$-$.--$ R, .28 ),31$))04H$.-%3-)3.9 3$ 3 3-$.-1$%02, "0 .,".0)-%"-$ 10.33,))&."2-$!3., .28),5%"2 ,# .,"43. 3!0-93$ 9.3./, 5%"2 ,#.,".1$ ,9%3+ ,/,)!2)8$ ,.1$%"#<)6 9."2-$%38.1-#%+ 3$ .3 "3 )8%2 "-%-4 $%,29.3." &/0) 93$ 8)00)*3-$ 31$ 2!0 )8-$ 10.33,))&6.3 2)"-$ #!%2 0%" 38),-$ /,)#,.&."2-$ 31$))01!,,%1!0!&4$ 31$ 2!0 )8-$ 1 0.33,))& &.5 3$ ,2)3)&!1$*),5*%-$%".3$),--%& 8,.& 96!-3$ 1."")-.+)%2-$%3$ 1-%131 $ 2!0 4 $%38.1-#%+ 3$ ,.3 "3 )8%2 "-%-.3." &/0) 4n"$ ,31$))0910.33 ,))&31$ 2!0 3., 2 1%2 2.--$ 6 #%""%"#)8-$ .,9."2.1$ ,3$.+ -)3-%15-)-$ %,10.33 ,))&31$ 2!0 4 ($ ".1$ ,3*."--)1$."# -$ 31$ 2!0 9-$ 2-)# --$ 2%, 1-),>3.//,)+. 0%"),2 ,-) #%+ -$ 2%, 1-),-%& -)0))5)+ ,-$ 31$ 2!0 ."2&.5 3!, + ,-$%"#*%00*), 5)!-4n"

PAGE 127

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rnrnn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n"),2 ,-)3)0+ -$%3/,)60 &93$ -,% 3-)&.5 6)-$$ ,."2-$ 1 $%028 0$.//%" 2%88 "-*.34), 7.&/0 93$ #) 3-))-$ ,.1$ ,3."2.3539G( 0091.")!$ 0/& *%-$ -$%33%-!.-%)"PH3., 3!0-93$ # -33)& 3!## 3-%)"3."2-,% 3-$ &!"-%03$ 8%"23-$ 6 3-*. -)3)0+ -$ /,)60 &4n83$ 8%"23-$.--$ 3!## 3-%)"3., ")-*),5%"#93$ #) 3-)$ 2%, 1-),

PAGE 128

."2# -33)& 8!,-$ ,%2 .3.6)!-$)*-)3)0+ -$ /,)60 &4n"/.,-%1!0.,93$ $.3)"0 -*) .,3 )8.1$%"# 7/ ,% "1 ."2-$%"53-$.-$ ,%"3!88%1% "7/ ,% "1 )8*),5%"# *%-$1$%02, "%3)" )8-$ 6.,,% ,3-) 88 1-%+ .1$ ,1$%02%",.1-%)"34$ $.30 ., 2$)*-)2 .0*%-$1 ,-.%" 3%-!.-%)"3),$)*-)1)&&!"%1.*%-$1$%02, "8,)&)-$ 7/ ,% "1 2.1$ ,3."2-$!3 %3 &!1$&), 1)"8%2 "-%"$ ,3 08-$."%"-$ /.3-6)+ ,1)&%"#.8 .,)8Gn2)">-5")* *$.--) 2)4Hn"3$),-93$ 2 .03*%-$-$ 3%-!.-%)"%"*$%1$3$ $.3-,)!60 $.+%"#.$.//1)"+ ,3.-%)" *%-$.1$%026# --%"#3)& 3!## 3-%)"38,)&)-$ ,.1$ ,34$%3%"2%1.3$.-..1$ ,1$%02 0.-%)"3$%/."2..1$ ,.1$ ,, 0.-%)"3$%/3 &-)6 0 +."-%"$ 3%-!.-%)"*$ "3$ -,% 3 -)2 .0*%-$%" 88 1-%+ .1$ ,1$%02%",.1-%)"34 n".22%-%)"9..1$ ,1$%02, 0.-%)"3$%/."2.1$%021$%02, 0.-%)"3$%/3 &-) 6 !"2 1)"3-,!1-%)"%"-$ 3%-!.-%)"*$ "3$ $.31$%02, "10./."21$ ,8),-$ %,8,% "23%"$ 10.33,))&4), 7.&/0 92!,%"#*$)0 #,)!/-%& 93$ "1)!,.# 31$%02, "-)/. ,-%1%/.%"." .1-%+%-93.%"#9Gn" 2.8,% "2-)2,.*.0%" 8,)&3%.-)-$ ,1-%14&%0 92))!*."".-, %-PHn8&%0.11 /-3$ ,)88 ,93$ 10./3$ ,$."23."21$ ,38),&%0 93.%"#9G .$9&%04H 38),-$ .3)"-$.-3$ 8, =! "-0!3 310.//%"#."21$ ,%"#93$ 3.3-$.-1 $%02, "., + !/3 -),#,!&/*$ "-$ ., ")-/%15 28),3)& -$%"#."2-$ "-$ 2)")-*."--)2)."-$%"# 03 8),-$ 2.4$!39.1$ ,33-.,-, *.,2%"#1$%02, "-)1$ 8),-$ %,8,% "239 3.%"#9G$9 .$9#))2<)69)!/,)// 28),%-8),)!,8,% "239)!5")*9* 0%5 -$.-9n0%5 -$.-9)!>, 3!1$.#))23/),-9)!5")*9")*n>&#)""./%15)!9S1.!3 )!2%23!1$.# ))2 <)64H$%3&.5 31$%02, "0 .,"#))23/),-3&."3$%/6 1.!3 -$ /,.%3 -$ %,8,% "23*%-$)!6 %"#!/3 --$.--$ ., ")-/%15 28),3)& -$%"#403)93$ 3.39G$ 6. 3%1.00&.5 -$ %, 8,% "23$.+ $%#$ ,3 08 3&-))96 1.!3 -$ R, 6 %"#1$ 28), 9S .$9 .$9-$ 2%2. #))2<)69)!,8,% "23., $.//8),& 4>H3., 3!0-9$.+%"#1$%02, "10./."21 $ ,8),-$ %,

PAGE 129

A 8,% "231)"-,%6!3-)%&/,)+%"#.1$ ,1$%02, 0.-%)"3$%/36 1.!3 %".60 31$%02, "-) 1)"-%"!.000%3"-)*$.-.1$ ,3., 3.%"#*%-$)!-6 %"#!/3 --$.-$ ., ")-/%15 28), 3)& -$%"#4n-.03)1)"-,%6!3-)%&/,)+%"#1$%021$%02, 0.-%)"3$%/36 1.!3 %".60 31$%02, -)0 .,"#))23/),-3&."3$%/.3* 00.3-)&.5 -$ %,8,% "23$.+ $%#$ ,3 08 3&4 6rn nnrnn nnn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

PAGE 130

' 3., 3!0-9-$%3/., "-%"+)0+ & "-%"-$ $)& *),5%31)"3%2 2.!3 8!0*.)8 # --%"#1$%02, "-)0 .,"*$.-.1$ ,3., 3.%"#4)* + ,9-$%3/., "-%"+)0+ & "-%"-$ $)& *),5&.5 3/., "-33/ "2&!1$-%& $ 0/%"#1$%02, "2)-$ %,$)& *),5."2-.05%"#.6)!-%-4n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rn rr rnnn"."3%-!.-%)"-$%"#3., 1)"" 12),2%31)"" 129, 0 +."--)),%,, 0 +."--) .1$)-$ ,9%" 1 ,-.%"*.34 D4 ($.-3),-3)81)"" 1-%)"3N0))5%"#6.15*.,2."2I),8),*.,2N., &.2 *%-$%"."2.1,)33!-,."1 3."20.,# 3-, -1$ 3)8-$ %",.1-%)"P $ 1)"3%2 ,31$%02, ">3/)3%-%+ .1-%)"-)*$.-.1$ ,3., 3.%"#. 3 88 1-%+ .1$ ,1$%02%",.1-%)"4), 7.&/0 9*$ ".1$%02.1-%+ 0."3* ,3. .1$ ,>3=! 3-%)"),.

PAGE 131

' .1$ ,*%00%"#0, 3/)"23-).1$%02>3=! 3-%)"9-$ 1$%023 &3-)6 3.-%38% 2*%-$-$ 1)"+ ,3.-%)"4$%3&.5 3-$ 1$%028 0+.0! 2."2/,)!2)8$%&),$ ,3 084n",&3)8 $ 2 8%"%-%)")8 88 1-%+ .1$ ,1$%02%",.1-%)"93$ 1)"3%2 ,3 + ,1$."1 .1$ ,3# -.3-$ 6 3--%& 8), 88 1-%+ .1$ ,1$%02%",.1-%)"393.%"#9G 1.!3 >, 1)"3-."-0-.05%"#-)-$ 1$%02, "$ 96 1.!3 -$ 9-$ 1$%02*%000%3"&), %8-$ 3 >, 0%3 "%"#-)-$ &-))4) -.05-)-$ &1)"3-."-04$ )"0-%& .00B@4C9n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n*."".1)& Pn*."".#))!,)/ 4."n 3 -$ %88 0-)* ,9-))P)!#)-)8,%1.Pn*."--)3 3)& #%,.88 34H$ .00)*31$%02, "-) 8, 0-.05.6)!-*$.-1)!"-,-$ *."--)#)-)4$%02, "<)-.05%"#.6)!-$ 3!6< 1-."2 3 &-)6 3.-%38% 2*%-$-$ 1)"+ ,3.-%)"4($%0 .1$ ,3."21$%02, "., .-%"#-$ %,3".1539 -$ -.05.6)!-*$.-&)+% -$ $.+ .0, .2*.-1$ 29%"10!2%"#G)&."2; ,9HG$.->3)

PAGE 132

' .+ "9H."2G!,%)!3 ),# 4H($ ".1$%02.353$ ,*$.-5%"2)86 + ,.# 3$ %32,%"5%"#93 $ ."3* ,3-$ =! 3-%)"."2 7/0.%"3*$ %-%38,)&."2*$.-%3%"10!2 2%"%-4$%31)"+ ,3.-%)" 2 + 0)/3%"-)2%31!33%)".6)!-*$ 1$%02, "* 6),"."2*$ -$ %,/., "31.& 8,)&4n" .22%-%)"92!,%"#8, /0.-%& 93$ /, "23-)6 .&)"3,."2 "1)!,.# 31$% 02, "-)/, "2 -)6 3)& -$%"# 03 93.%"#9G-.19*$.-., )!P, )!3-%00./)0. ,6 .,P($.-., )!P ($.-., )!#!3P, )!.3 .&)"3,3-%00Pn-$)!#$-)!#!3#)-,% 2)8-$ 3 .&)"3,4H "23$ 1$.3 31$%02, "0%5 .&)"3,9."21$%02, "<)/0.%"#*%-$$ ,."23 &-)6 .00<)8!04$ 3 !-,."1 33$)*-$.-3$ -,% 3-)-.05-)1$%02, ".3)8 ".3/)33%60 9."2 -$ %,2%31!33%)",."# 3)+ ,+.,%)!3-)/%1343., 3!0-9-$ 3 !-,."1 3. 1)"" 12-)-$ /, +%)!3!-,."1 36 1.!3 -$ 3 !-,."1 3/,)+%2 +%2 "1 -$.-3$ !3 3 + ,1$."1 3$ -.053-)1$%02, ".3-%& 8), 88 1-%+ .1$ ,1$%02%",.1-%)"346rnr r nnrnnrn5r+nnn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

PAGE 133

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n"3!&&.,93$ 6 0% + 3-$.-1 $%02, "" 2-)2 + 0)/ -$ %,.6%0%--)!3 -$ %,)*"*),23%"),2 ,-)#)-)5%"2 ,#.,"6 1.!3 -$ .6%0 %-%"80! "1 3 -$ %,/,)60 &3)0+%"#35%003.3* 00.3-$ %,31$))0.1$% + & "-4 !,%"#-$ 3 1)"28),&.0%",+% *93$ 3.3-$.-3$ $.31$."# 2$ ,*.)8%",.1-%"# *%-$1$%02, ")+ ,-%& 6")-!3%"#" #.-%+ *),2393!1$.3G)">-H."2Gr)4H$ 3. 39 Gn"3.2)800%"#-$ &-$%"#3-$.--$ 1.">-2)900%"#-$ &-$%"#3-$.--$ 1."2)4%5 %8 -$ >, ,!""%"#%"-$ 10.33,))&90%5 n3.9S3 %"3%2 8 -9/0 .3 9>-$ 3-%00#%+ & -$ 2 3%, 26 $.+%),3*$.-n*."-4)%"3.2)8B'4C-$ %,-.05%"#.#.%"")*9%"3.2 )83.%"#9 S5.9 + ,6)26 =!% -4r)&), -.05%"#9>-$.->3" #.-%+ 4n"3.29n>0 03.9Sn"3%2 +)%1 39 /0 .3 9>-$ "-$ >00!3 %"3%2 +)%1 39B4C-$.->3/)3%-%+ 9S1.!3 n>&00%"#-$ &*$.--$ 1." 2)."2-$ >, 1$))3%"#-)2)-$ ,%#$-6 $.+%),8),-$ &3 0+ 34H!3%"#/)3%-%+ *),2393$ "1)!,.# 31$%02, "-)&.5 -$ ,%#$-1$)%1 )"-$ %,)*"."20 .231$%02, "-)6 $.+ %".

PAGE 134

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n-3-.,-3 *%-$S4>( &.2 S>34H"2-$ "3$ #%+ 3.")-$ ,1$%02.1$."1 -)."3* ,$ =! 3-%)"9 3.%"#9G(%-$S>P 0%".PH$ 1)"-%"!.00#%+ 31$%02, ".1$."1 -)."3* ,-$ 3.& =! 3-%)" 61.00%"#)" .1$1$%02>3".& ."2&)+ 3-).=! 3-%)".6)!--$ +)* 03%""#0%3$93. %"#9 G$%3%3-$ 0 -,S4>($.->33/ 1%.0.6)!--$%30 -,P($), & &6 ,3PH$ "1)!,.# 3 1$%02, "-),.%3 -$ %,$."23-)."3* ,-$ =! 3-%)"."2.3539G($.-%3-$.-1.00 29. 009*$ ".

PAGE 135

'@ 0 -,$.3-*)3)!"23PH$ 1$%022) 3")-#%+ $ ,.,%#$-."3* ,9."23$ 3.39Gn ->31.00 2. S)* 04>, .00)8)!, & &6 ,%"#-$.-*),2PH%".0093$ .3533)& 1 $%02, "=! 3-%)"39 3.%"#9G.009*$.-%3%-1.00 2P!3-%"9*$.-%3%-1.00 2P($.-%3% -1.00 29&%0PH $%33%-!.-%)"3$)*3-$.-3$ / .20, &%"231$%02, ".6)!-*$.--$ $.+ .0 .2 0 .," 2."2*."-31$%02, "-), & &6 ,*$.--$ 2-)5")*-)#)-)5%"2 ,#.,"4n"),2 -)1$ 15%8 .1$1$%02, & &6 ,3*$.-1$%02, "$.+ .0, .20 .," 293$ 353 + ,3%"#0 1$%02 -$ 3.& =! 3-%)"."2, 3/)"23-)-$ 1$%02>3."3* ,4n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
PAGE 136

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n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nn r0n'rnn &.%"%", 3-%"%"2>3%",+% *%3-)3 $)*3$ %31)"1 ," 2*%-$-$ 88 1-3)8. .1$ ,1$%02,.-%))".1$ ,1$%02%",.1-%)"34$%3&.%"%", 3-1)& 38 ,)&-$ 8.1--$.-

PAGE 137

'E %"21)"3%2 ,3-$ $%#$.1$ ,1$%02,.-%).3-$ 6%## 3-6.,,% ,-) 88 1-%+ .1$ ,1$%02 %",.1-%)"34 ,/, +%)!3 7/ ,% "1 )8.1$%"#1$%02, "%".10.33, ))&-$.-/,)+%2 2.0)* .1$ ,1$%02,.-%)&.2 $ ,!"2 ,3-."2-$ %&/),-."1 )8.0)*.1$ ,1$% 02,.-%)%".1$ 1$%02%",.1-%)"34%"2-$%"53-$.--$ .1$ ,1$%02,.-%)3 -6-$ 3-."2.,23%3$%#$."2 -$ ,.-%)2) 3")-, 80 1-2%88 "-10.33,))&3%-!.-%)"34)* + ,93%"1 3$ 1."")-1$."# -$ ,.-%)93$ $.3-).1$1$%02, "%"-$ 10.33,))&*%-$-$ ,.-%)4n")-$ ,*),2393$ $.3 -)8)00)* -$ ,!0 33 -62)&%"."-.1.2 &%13."2%"3-%-!-%)"3."2%3/)* ,0 33-)&)2% 8$ ,.1$%"# "+%,)"& "-4 ,)&$ 7/ ,% "1 393$ 5")*3-$.-.0)*.1$ ,1$%02,.-%) ".60 3. 1$ ,3-)$.+ &), )" )")" %",.1-%)"3*%-$1$%02, "4$.-%3-)3.9.1$ ,3., .60 -) 3%0/. .-"-%)"-) .1$1$%02."23!11 338!00$ 0/ .1$1$%020 .,"" *35%003), 8.1-340)"#*%-$. 0)*.1$ ,1$%02,.-%)93$ &/$.3%: 3.3&.0010.333%: 6 1.!3 % -1)"-,%6!3-)%&/,)+%"# 1$%02, ">30 .,"%"# "+%,)"& "-36&.5%"#1$%02, "8 01.0& ,."2&), 0.7 24n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

PAGE 138

' 'rn)&nn-.":.$ #) 3-)1$%02, "*$)3 &-)6 !"$.// 4 n8-$ >, !"$.//9 4 %8n3 -$ >, !"$.//9 '4 n>006,%"#-$ &)+ ,-)& ?4 ),n>00#)-)-$ &4 !1n,rnrnnn+n nnn!n2 r 2)8.0)*.1$ ,1$%02,.-%)8),&), )" )")" -%& *%-$1$%02, !63!63-),$ $.3)" )")" %",.1-%)"*%-$1$%02, "%"2%88 "-*.3 -.":.$ .353*$.-$.// 2-)-$ 1$%02, @4 n8n9%8n>&.60 -)# -!/8,)&*$ + ,n>&.-9 D4 n>00#)-)-$ &9 E4 ."2# -2)*")"-$ %,0 + 0 4 ."2.35-$ &9G($.->3*,)"#PH A4 G($2))!$.+ .3.28.1 )"PH-.":.'$ $!#3-$ 1$%02, "-)&.5 -$ &$.// 4 "2!3!.00-$ >0000& 4 ."2n9%8n1.")88 ,9 4 n>00*.%-8),-$ &-)6 $.//9 '4 n>00#%+ -$ &$!#3.0*.39-.":.?$ 0 -3-$ 1$%02, "3%-)"$ ,0./-)1)"+ ,3 *%-$-$ & ?4 6!--$ >, 9%->30%5 &%33%"#-$ %,&)&&9 @4 n>003.9G($ "*%00* 3 &)&&.#.%"PH D4 "2!3!.00-$ >003..8,"./9.8,8, /0.9

PAGE 139

'A E4 n>000 -S &3%-)"&0./-.":.@$ .00)*3-$ 1$%02, "-)# --$ %,3-!88-$.-&.5 3-$ &1)&8),-.60 4 %8-$ 2-)#)# --$ %,3-!889 A4 %8-$ $.+ 3-!88 2."%&.03!3!.00-$.--$ 30 /*%-$9 4 n>000 --$ &#)# --$.4 %8-$ -,!0" 2%-9 4 -$.->00#%+ -$ &3)& 1)&8),-4 '4 ,n>00-6 + ,*$ .-)"1 4 ''4 )%8-$ ,.-%)38),-$ 5%23-).1$ ,3* .-0 .3-0%5 "5%23-)-*).1 $ ,39 '?4 -$ "-$ 5%23nR&3!, *)!026 8%-&), '@4 6 1.!3 -$ *)!02$.+ &), )" )")" -%& 4

PAGE 140

? -.":.$ $%#$.1$ ,1$%02,.-%)0 -3$ ,3%&/0#%+ 2%, 1-%)"3)1$%02, 'D4 n"3.2)80%5 *$ "n2)&*),59&2.%0*),53$ -39 'E4 %"3.2)80%5 .00&5%233.-.--$ -.60 3%"-$ %,3/)-34 '4 "2n&")-#)"".6 .60 -)# --$, ),8)!,5%239 ?'4 n$.+ -)3-.,-*%-$)" 5%2."2-$ "n*),5&*.)"4 ??4 !-%8-$ ,.-%)*.33&.00 ,9 ?@4 -$ "n*%006 .60 -)$ 0/&), 5%23=!%15 ,."2 ?D4 n2)">-5")*4 ?E4 n38),99 @4 6!-)!1."$.+ !/-) %#$"9 @4 3)-$.->3*$* $.+ -$ 3 1)"2.1$ ,1)& %"4 @'4 !--$ 3-.3.3-$ ,.-%)%3)" -) 0 + "9

PAGE 141

? @?4 n-$%"5%-3$)!026 -*)-) 0 + "4-.":.$ 1!,, "-.1$ ,1$%02,.-%)%" + ,31$))0%3$%#$ @@4 n-$%"5-$%39%-*)!026 "%1 %8-$ 3-.*)!020)* ,-$ ,.-%)4 @D4 + "." 0 & "-.,31$))09 @E4 n& ."..1$ ,1."$.+ -$%,-5%233)& -%& 3%"-$ 10.33,))&9 @4 ."26 6$ ,3 08),$%&3 084-.":.0)*.1$ ,1$%02,.-%) ".60 31$%02, "-)# -6 -,, 3!03 @A4 "2n-$%"5%-*)!026 6 8%1%.0-)-$ 1$%02 D4 %8-$ $.20 331$%02, "%"-$ %,10.33,))&-$.--$ $.22 .0-*%-$ D4 ."2)!*)!02# -&), )" )")" D4 ."2n-$%"5)!*)!02# -6 -,, 3!0-3)!-)8-$ 1$%02, "9-.":.'$ 0)*,.-%) ".60 3.1$ ,3-)3/ "2&), -%& *%-$ .1$1$%02 D'4 %8-$ $.20 331)&/ -%-%)"/ ,3 D?4 ."2%8-$ $.2&), )" )")" -%& 9 D@4 ."2-$ .1$ ,1)!023/ "2&), -%& *%-$%"2%+%2!.03-!2 "-3 DD4 %83$ 2 2-)),$ 2 2-)4 !63!63-),?$ 1!,, "-.1$ ,1$%02,.-%)%#"), 32%88 "-10 .33,))&3 --%"#3 -.":.?$ $%#$.1$ ,1$%02,.-%)%3.6.,,% ,-) 88 1-%+ .1$ ,1$%02%",.1-%)" DE4 )& 6.,,% ,3P,)6.60-$ ,.-%)9 D4 *$ n9*$ n*)!029n*)!02)"06 -$ 9 DA4 -$ )"06.,,% ,n1."-$%"5)8%3$.+%"#3)&."5%234-.":.@0)*.1$ ,1$%02,.-%) ".60 3.1$ ,3-)8, 0%",.1*%-$1$%02, E4 n8)!$.20 335%239

PAGE 142

? E4 )!1."%",.1-&), 8, 0*%-$-$ &9 E4 )!1."%",.1-&), )" )")" E'4 ."2-$.-R3, .00%&/),-."E?4 n-$%"5%->3-$ 9&), )" )")" .-"-%)" E@4 -$.-n*)!02-$%"5%-1)!026 -$ )"06.,,% ,>3-$ ,.-%))85%23-).1$ ,34 ED4 -$ ,*%3 9n2)">-, .00-$%"5-$ %3.6.,,% ,*%-$%"."%",.1-%)"4 -.":.D 3 .,1$ ,3" 2-)#)-)2%88 "-10.33,))&3 --%"#3 EE4 $ ,.-%)31)& 8,)&, 3 .,1$ ,39 E4 n-$%"5-$ >, *,)"#B$.9$.C4 EA4 n83)& 6)2%3.1-!.00%"-$ 10.33,))&."2")-32 + 0)/& "!63!63-),@$ 3.*-$.-1$%02, "$.26 8%2#, .-08,)&.0)*. 1$ ,1$%02,.-%) -.":.$ -.!#$-1$%02, "%"-$ 10.33,))&*%-$.0)*.1$ ,1$%02,.-%) E4 n1.& 9n!3 2-)0%+ %"%" 00.3)!"-9%"0),%2.%" 00.3)!"-9 4 ."2-$ ,.-%)9-$.-)82.1., n*),5 2.-9

PAGE 143

?' A4 2)!60 2-$ 3-."2.,23>& ."%"#9 A4 n*.3%".-*) .,)02,))& A4 ."2-$ 9)!1."$.+ "-*) .,)023-))" .1$ ,9 A4 )"0$.2-*).1$ ,3*%-$"-*) .,)0234 A'4 ( 2)!60 2-$ .1$ ,3-."2.,23 A?4 ."2-$.-, .00*.3 88 1-%+ 4-.":.A$ 3.*-$ 6 8%-3)8.0)*.1$ ,1$%02,.-%) A@4 !-%" 00.3)!"-%3.03))" )8-$ 3-,%13-1)!"-% 3%"0),%2.9 AD4 *$ "%-1)& 3-)1$%02, "4 AE4 "2-$.-%3&), 88 1-%+ -$."*$.-* $.+ $ 4 A4 + "-$)!#$%->3.3-., #!0.2,.-%)9 AA4 -$ 3-./!-3)!--$ ,.-%)96!-4 4 !, 0")-$%"#n1."2).6)!-%-*$ "-$ 3-.3.39G."R-8%#$--$ &4H !63!63-),D)& 1$%02, "&.5 .1$ ,3/, 8 ,.0)*.1$ ,1$% 02,.-%) -.":.$ .1$ ,1$%02,.-%), #!0.26-$ 3-.%3$%#$ 4 $ 3-.%3/,)6.60-$ 8.1-),9 4 6 1.!3 -$ 9-$ *.-$ $.+ &.2 -$ ,.-%)3 '4 3)$%#$%"/, 31$))0 ?4 n5")*%"31$))0%->3 + "$%#$ ,9 @4 ."2/!60%131$))0>3$%#$ ,4 -.":. .1$ ,3!3!.00$.+ 3)& 1$%02, "*$)2%3,!/--$ 10.33 D4 )!$.+ 2%88 "-2%31%/0%" /,)60 &3-$.-)!$.+ -)2 .0*%-$9 E4 %8nR&1)"3-."-0#%+%"#&.-"-%)"

PAGE 144

?? 4 -)-*)),-$, 3-!2 "-3*$)$.+ .2%31%/0%" /,)60 &9 A4 -$ "-$.->3#)""..88 1-.00&)-$ ,5%23 4 *$)., ")-# --%"#&.-"-%)"4 -.":.$ 1$%02, "/, + "-$ ,8,)& 88 1-%+ 0%",.1-%"#*%-$)-$ ,1 $%02, 4 $.->39-$.->3-$ 8.1-),*$3)& )" 9 4 *$)!2)">-# 88 1-%+ .1$ ,%",.1-%)"*%-$-$ 5%234 '4 n8)!$.+ 2%31%/0%" /,)60 &3 ?4 ."2)!>, 1)"3-."-03-)//%"#."22 .0%"#*%-$9 @4 %8)!$.+ )-$ ,-$%"#3#)%"#)"9 D4 0%5 ,%#$-")*n$.+ //0 .11, 2%-.-%)" E4 n>&-,%"#-)2).0)"#*%-$.1$%"#&5%234 !n7 )3%-%+ %"80! "1 3)8.0)*.1$ ,1$%02,.-%))".1$ ,1$%02%",.1%)"3 !63!63-),E.", 3/)"3%6%0%-% 3/, + "-$ ,8,)&8, 0% ",.1-%"#*%-$1$%02, -.":.'$ %31!,, "-0, 3/)"3%60 8),&."-$%"#3 4 n$.+ .")-$ ,.1$ ,9 A4 ."2.")-$ ,.1$ ,*$)-!"2 ,3-."2$ ,<)69 4 3)n>&2)%"#$ ,*),50).2/0!3&*),50).2 4 /0!3//0 /0!3-,-)8%"28!"4 -.":.?.", 3/)"3%6%0%-% 3%"80! "1 $ ,*.)8%",.1-%"#*%$1$%02, '4 )&), 3-!88)!$.+ -)0).2)"-))!9 ?4 ."2&), 3/)"3%6%0%-% 3 @4 n-$%"5%-%39.88 1-3-$ .1$ ,1$%02%",.1-%)"4

PAGE 145

?@ -.":.@$ $.33)&!1$*),5-)2)2!,%"#-$ -%& D4 $ 6 3-Pn->3/,)6.606 8), 3-.,-*),5.-A)>10)154 E4 5%23n1."9 4 6 1.!3 n$.+ 3)&!1$-)2) A4 ."2-$%"#3-$.-" 2-)6 2)" 8,)&& .3..1$ ,9 '4 ."23/, --6!34 -.":.D$ %3.60 -)8, 0%",.1-*%-$1$%02, "6 8), -$ -%& '4 !-6 8), A)>10)159 ''4 n# -$ .-E9.0)-)8&5%23# -$ .,09 '?4 .03)%",.1-%)".--$ -.60 '@4 ."2* >, -.05%"#."2/0.%"#9.002.0)"#4 'D4 !--$ "-$ >310)15P, .58.3-%3%-4 '4 ( $.+ 6, .58.3-6 -* "0%5 @-)'9 'A4 ."29-$.-93)& -%& 3-$.-1)!026 .0%--0 $ 1-%1 ?4 2 / "2%"#)"$)*&."5%23.1-!.00*."--) .-9 -.":.$ $.3-)8 2&."1$%02, ".-)"1 ?4 ."2%8%->30%5 .00-* "-9 ?4 )!1."%&.#%" -,%"#-)8 2-* "-5%23.-)" -%& 9 ?'4 S1.!3 $.+ 6, .58.3-%"-$ ,))&9

PAGE 146

?D ??4 ")-%"-$ 0!"1$,))&4 ?@4 !-)-$ ,*%3 -$ >, /0.%"#8,)&E-)A9 ?D4 %->33*$.--$ 9&), *$.--$ *."".2) ?A4 ."2-$ >, &), 0.7 29 @4 )!>, &), 0.7 2!3!.009 @4 !"0 33)!>, -,%"#-)2)3)& -$%"# 03 @4 0%5 .".,-.1-%+%-),3)& -$%"#4 -.":.'$ /, 8 ,3 .-%"#%"$ ,10.33,))&-)%"-$ 1.8 ,%. @'4 n/, 8 ,%"&,))&9 @?4 -$ R36 "2.30%5 *$ ")!,1))5%3">-$ 9 @@4 ."2* $.+ -) .-%")!,,))&9 @D4 n-$%"5n>&-$ )"0)" )8-$ .1$ ,3%"-$ 6!%02%"# @E4 -$.-0%5 3-)$.+ -) .-%"-$ ,))&4 -.":.'$ $.32%88%1!0-%"0 .2%"#&."1$%02, "-)-$ 1.8 ,%. @4 n1$ ,*$ "n2)">-$.+ -)*.05)+ ,-$ 9 @A4 S1.!3 %-%3.$.330 9.$.330 -,%"#-)*.05)+ ,-$ 9 D4 S1.!3 n$.+ %#$"5%233)& -%& 3),-* "-%"0%" 9 D4 # -S &)+ ,-$ 9 D4 # -S &8 2-)*$ ."29 -.":.' ,10.33,))&/,)+%2 3$ ,*%-$&), )//),-!"%-% 3-)-.05-)1$%02,

PAGE 147

?E D'4 S1.!3 %"&,))&%->3&), 0.7 24 D?4 n2)">-$.+ -)6 9-$ 9-$ 9-$ 9-$ 9*%-$-$ &4 D@4 n1."3%"-$ ,))&,.-$ ,-$.")+ ,-$ 4 !63!63-),A ,1$%02, "&.5 .6%#2%88 "1 -).1$ ,1$%0 2%",.1-%)"3 -.":.''0)*.1$ ,1$%02,.-%) ".60 3$ ,-) 88 1-%+ 0%",.1*%-$1$%02, D4 + ,1)& 3)& 6.,,% ,3P DA4 )* ,-$ ,.-%)B$.9$.CP E4 $.->3&6%#)" %30)* ,-$ ,.-%)4 E4 n-$%"5%8-$ R30 335%239 E4 )!1.")6+%)!30-.05*%-$-$ &&), 9 -.":.'?0)*.1$ ,1$%02,.-%)&.5 3.1$ ,3 .3%0%",.1-*%-$1 $%02, E'4 S1.!3 )!2)">-$.+ %#$"-)1)""2*%-$9 E?4 )!1)!029)!$.+ "),-* 0+ 4 E@4 $.->3.0*.3.0).3% ,9 ED4 )!>, .0*.3#)"".9 EE4 )!1)!026 .60 -)$.+ &), )" )")" *%-$-$ &9 -.":.'@ ,1$%02, "%"-$ 10.33,))&&.5 .-)-.002%88 "-.-&)3/ $ E4 ."2%->006 0 33$ 1-%1%"$ *$ "9-$ 9 EA4 n")-%1 2*$ "-$ >38 ,5%23%"$ 9 4 -$ *$)0 .-&)3/$ )8-$ 10.33,))&%31)&/0 02%88 "-4 -.":.'D$ %30 332%3,!/-%)"*$ "-$ ., 8 ,1$%02, "%"-$ 10.3 3,))&

PAGE 148

? 4 + ,6)2%31.0& ,9 4 %->3")-.30)!29 '4 -$ >3")-0)!29.3&."2%3,!/-%)"3*$ "-$ >38 ,5%239 ?4 ."2-$ "-$ >390 332%3,!/-%)"3 (rnn!1n/n+n nn rnn &n nr rn n&rn n+nnrrrnn+n rnn-.":.'E ,1$%02, "&.5 $ ,3/ "2&), -%& -.05%"#-) .1$1$%02 @4 ."2-$ >30 33-%& 3n>&1),, 1-%"#3)& 6)2),9 D4 -.05%"#-)3)& 6)29.6)!-*$.--$ >, 2)%"#*,)"# E4 ),")-&.5%"#.#))21$)%1 4 4 ($ "-$ >38 ,5%239 + ,)" 3$.//% ,%".10.33,))&B$.9$.C9 A4 )!1)!02-.05&), 4 .60 ?'4%"2>310.3331$ 2!0 E, /0. @, .58.3-'0 ."!/."2, .2A!-3%2 -%& B #%""%"#)8-$ -%& CA'(.3$$."23A?%,10 -%& @(),53$ -3 ",3"2)8-$ -%& !&rn6rn5nn6rnr r nn)*."2*$.-2%88 "--$%"#3& ."N-$ 3),-3)8& ."%"#."23%#"%8%1."1 -$ #%+ "N%3. 1)&/)" "-)8."3%-!.-%)"4 4 ($.-., -$ 3%-!.2& ."%"#3)83)& )8-$ *),23."2/$,.3 3-$.-3 &%&/),."%"-$ 3%-!.-%)"P

PAGE 149

?A !,%"#-$ %",+% *3."2)63 ,+.-%)"393$ )8"!3 3-$ *),2G!"2 ,3-."29H. "2%-$.3 8)!,2%88 "-3%-!.2& ."%"#34%,3-9-$ *),2G!"2 ,3-."2H& ."3-$.-.1$ ,3."21$%02, 5")*-$ & ."%"#)8*$.-3)& )" 3.34$ 3%-!.-%)"*$ "1$%02, "G!"2 ,3-."2H*$.-.1$ ,3., 3.%"#& ."3-$.-1$%02, "., .1=!.%"2*%-$-$ & ."%"#)8 3)& -$%"#-$..1$ ,3., 3.%"#4 )!# -/)3%-%+ 8 26.158,)&-$ 5%239-$ 3&%0 29-$ B'4C!"2 ,3-."2 *$.-)!R, 3.%"#9*$.-)!>, -.05%"#90%5 8),-$ 1%,10 -%& 9."2nR&#%+%"#-$ &3)& -$%"#" *4 )* , $.//."2B'4Cn#! 33-$.-R3$)*n*)!025")*%",.1-%)"$.3 6 88 1-%+ 4)!*%"9S1.!3 )!2)">-$.+ ."1.,230 8-4))!!"2 ,3-."2 P $%,29-$ *),2G!"2 ,3-."2H$.3-$ & ."%"#-$.-.1$ ,3."21$%02, "$.+ %"8),&.-%)".6)!-3)& -$%"#4$ !3 3-$ *),2G!"2 ,3-."2H%"-$ 3%-!.-%)"*$ "1$%02, "2)")-G!"2 ,3-."2H$)*-)2)3)& -$%"#9."2-$%3& ."3-$.-1$%02, "1."")-2)3)& -$%"# 6 1.!3 -$ 2)")-$.+ ."%"8),&.-%)".6)!-$)*-)2)-$.-4 ( -!"2 ,3-."2 $)*-)2).1 ,-.%"/,)< 1-9-$ R, 8%#$-%"#*%-$-$ %, 8,% "23."2-$ 1."R-, 3)0+ %-6-$ &3 0+ 34n$.+ .")-$ ,.1$ ,9."2.")-$ ,.1$ ,*$)-!"2 ,3-."2 $ ,<)693)n>&2)%"#$ ,*),50).2/0!3&*),50).2/0!3//0 /0!3 -,-)8%"28!"4 )!,-$9-$ & ."%"#)8G!"2 ,3-."2H%3-)6 8.&%0%.,*%-$$)*3)& )" %38 0%"# ."2 *$.-3)& )" %3-$%"5%"#.6)!-4n"-$ 3%-!.-%)"*$ ".1$ ,3G!"2 ,3-."2H1$%02, "9-$ *),2

PAGE 150

@ G!"2 ,3-."2H& ."3-$.-.1$ ,3., .1=!.%"2*%-$$)*1$%02, "., 8 0% "#9*$.-1$%02, "., 1)"3%2 ,%"#9."2*$.-&.5 31$%02, "6 $.+ %"./.,-%1!0.,*.4 n>&")-3!, n!"2 ,3-."2 1)&/0 0B4C9S1.!3 n$.+ .#))2, 0.-%)"3$%/9n-$%"5& 0.-%)"3$%/*%-$.00)8&5%23%3#))24 r 7-93$ 8, =! "-0!3 3-$ *),2G5")*9H."2%-$.38)!,2%88 "-3%-!.2& ."%"#3 4 %,3-9-$ & ."%"#)8G5")*H%3-), .0%: -$.-3)& -$%"#%3$.// "%"#4 .1 $ ,3#%+ 1$%02, %"3-,!1-%)")"$)*-)2)3)& -$%"#."2G5")*H*$ -$ ,-$ %"3-,!1-%)"%33!11 338!0),")-6)63 ,+%"#$)*1$%02, "., 2)%"#3)& -$%"#4n"-$%33%-!.-%)"9-$ *),2G5")*H& ."3-$. .1$ ,3, .0%: *$ -$ ,),")-1$%02, "., 2)%"#3)& -$%"#!"2 ,-$ %"3-,!1%)"4 ($ "B4Cn3 -$ &2)%"#%-."28)00)*%"#&2%, 1-%)"39-$ "n5")* 9."2%8-$ 2) 3)& -$%"#9%8-$ 2)"R-2)%-,%#$-9n*%003.9G)!2%2">-=!%!"2 ,3-."2&2%, 1 -%)"39 2%2)!PHn>00*,%./., "-98),%"3-."1 93.%"#9G)!,9)!5")*93)."23)9$.2.$.,2-% & 5 /%"#-$ %,$."23-)-$ &3 0+ 3),-$ 8),#)--$ %,0%3"%"# .,3-)2.4H )-$ /., "-3 .0*.35")*3 $)*-$ %,6 $.+%),*.39-$ .0*.35")* %+ ,2.4 1)"29-$ *),2G5")*H& ."3-$.-.1$ ,3."21$%02, "., 8.&%0%.,*%-$3)& -$%"# 6 1.!3 -$ $.+ .0, .2 7/ ,% "1 23)& -$%"#4$ 3%-!.-%)"*$ "1$%02, "G5")*H-$ %, 10.33,))&31$ 2!0 & ."3-$.-1$%02, "., 8.&%0%.,*%-$-$ %,2.%0,)!-% 6 1.!3 -$ $.+ .0, .2 7/ ,% "1 2*$.--$ $.+ -)2) + ,2.4 $ 5")* *$ "-$ 1)& %"9*$.--$ R, 3!//)3 2-)2)9-$ 5")* .8,-$ *.3$ -$ %,$."239-$ 3%-8),1%,10 9-$ 5")* .8,1%,10 2)*),59.8,*),5-$ $.+ 8, -%& !"-%0-$ "24,3)& -%& 3)"-$ 8%,3-2.9%8-$ >, .1-%"#0%5 .10)*")"-$ 8%,3-2. B$.9$.C9)! 5%"2)8.0, .25")* *$.--$ >, #)"".6 0%5 4 $%,29-$ *),2G5")*H$.3-$ & ."%"#-$.-.1$ ,3."21$%02, "5 /%"&%"2.8.1-), ./% 1 )8%"8),&.-%)"4$ !3 3-$ *),2G5")*H%"-$ 3%-!.-%)"*$ ".1$ ,3" 2)5 /%" &%"2*$.--$ 3$)!022)8),1$%02, "),*$ "1$%02, ", & &6 ,.8.1-4

PAGE 151

@ n-$%"5-$ .1$ ,3$)!025")* -$.-)!, 3&.,-6)9)!5")* .00)8-$ 3 *),234 )!,-$9-$ *),2G5")*H%3-)$.+ %"8),&.-%)".6)!-3)& -$%"#4$ 3%-!.-%)"*$ .1$ ,3."21$%02, "2)")-G5")*H3)& -$%"#& ."3-$.--$ $.+ ")%"8),&.-%)".6)!-3)& -$%"#4 n2)">-5")* 7.1-0$)*0)"#9n5")* %->36 "&), -$."" .,39%->3/,)6.609%/,)6.601)!02$.+ 6 ".,)!"28),-* ".,34 )!#)1: &.P))!$.+ 1: &.P))!5")* *$.--$.-%3P 6rn &nn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n"-$ 1.3 )8.3/ 00%"#3-91$%02, "%" $ ,/, 5%"2 ,#.,"10.33,))&$.+ -$ 3-)"1 ),-*%1 .&)"-$4 .1$ ,38% ,3-3 "2$)& -$ *),23-$.--$ 1$))3 98), 7.&/0 9G9HG9HGn9HG9H."2Gr4H$ ".1$ ,3 .00)*1$%02, "-)/,.1-%1 -$ *),23.-$)& 8),.-0 .3--*)*$)0 53.3* 00.3-)#))+ -$ *),23%"10.334 8), -.5%"#.3/ 00%"#3-9.1$ ,3#%+ 1$%02, ".1$."1 -), +% *-$ *),234$%02, "3%-.--$ %,3 .-3."2-.5 -$ 3-9."2%&& 2%.0.8, -.5%"#-$ 3-9-$

PAGE 152

@ 5")*-$ 3!0-3438),#,.2%"#-$ 1$%02, ">3*),593$ 3.39Gn2)">-0%5 n#,. 2 -$ &96!+ "%8-$ #)--$ &.00*,)"#9n>&3-%0000%"#-$ &S#))2<)6>),*,% -%"#S#))2<)6>)"-$ %, /./ ,4n2)">-/!-%-%"-$ 6))596!-n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rH*%-$-*)1$%02, ".-. -.60 4$%3#.& ".60 3 .1$1$%02-)$.+ 8%+ 1.,23."2-)1$ 15%8$ ),3$ $.3.1.,2-$.-$.3-$ 3.& 1)0), ), "!&6 ,.3-$ 1.,2-$.-$.3.0, .26 ".--$ -.60 4n8$ ),3$ $.3-$ 1.,2-$.-$.3-$ 3.& 1)0),),"!&6 ,9$ ),3$ /!-3-$.-1.,22)*"4$!39-$%3#.& ".60 31$%02, "-)2 + 0 )/-$ .6%0%--)2%3-%"#!%3$./.,-%1!0.,1)0),),"!&6 ,8,)&+.,%)!31)0),3."2"!&6 ,34 -$%,23!6.1-%+%-%3-)# -1$%02, "-)6 .11!3-)& 2-).5%"2 ,#.,"0 %8 3-0 ."2%3 1)&/)3 2)8&."2%88 "-.1-%)"39%"10!2%"#0%"%"#!/."210 ."%"#!/4n"/., -%1!0.,92!,%"# & .0-%& 9.1$ ,3."21$%02, "#))!-3%2 ."2-,.+ 0-)-$ 1.8 ,%.4($%0 -$ ., -,.+ 00%"#9

PAGE 153

@' .1$ ,3# -1$%02, "-)0%" !/9-)*.058.3-9."2-)6 =!% -4n"-$ 1.8 ,%. 9.1$ ,3.00)* 1$%02, ")"0-) .--$ %,0!"1$,.-$ ,-$."-.05%"#-) .1$)-$ ,),.1$ ,36 1.!3 -$ $.+ )"0-$%,-&%"!38),0!"1$48, .-%"#0!"1$9.1$ ,3$.+ 1$%02, "-$,)* -,.3$.*.9&)+ -$ %,1$.%,3-)-$ 1)," ,)8-$ 1.8 ,%.9."2/%0 -$ &!/4$ 1)& 6.1 5-)-$ %,10.33,))&9 ."21$%02, "-.5 ."./%&& 2%.043., 3!0-9-$ 10.33,))&$.3%-3 )*"3-,!1-!, 2 31$ 2!0 ."2&.5 36)-$.1$ ,3."21$%02, "6!35 /%"#-$ 31$ 2!0 4$.+% "#1$%02, 7/ ,% "1 -$ 3-,!1-!, 231$ 2!0 9.1$ ,3# -1$%02, "-)6 .11!3-)& 2-).5%"2 ,#.," 0%8 3-0 ."2/, /., 1$%02, "8),5%"2 ,#.,"46rnrnn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n& ."3.30%5 5%233$)!02$.+ -$ 3 3-."2.,239 )!5")*9 999."29."2n2)999."296!-n#).00-$ *.-)/ ,3 4H$.-%3-)3.9$ 31$))01!,,%1!0!&%"10!2 3&), 0 .,"%"#&.,%.03."2&), 1 33.,35%003 8),5%"2 ,#.," -$."-$ #!%2 0%" 38),-$ /,)#,.&2)."2" 231$%02, "-)2).0)-)8*),53$ 34$!39 3$ 6 0% + 3-$.--$ 31$))01!,,%1!0!& ".60 3.1$ ,3-)# -1$%02, ", .28),5%"2 ,#.,"

PAGE 154

@? &), -$."-$ #!%2 0%" 32)93.%"#9G00)8&5%23B4C/,.1-%1.00.00)8 &5%239& %#$" 5%23,%#$-")*1."35%/5%"2 ,#.,"4n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n>& B4C1),, 1-%"#3)& 6)2),-.05%"#-)3)& 6)29)!5")*9.6)!-*$.--$ >, 2)%"# *,)"#), ")-&.5%"#.#))21$)%1 4($ "-$ >38 ,5%239 + ,)" 3$.//% ,%". 10.33,))&B$.9$.C9)!1)!02-.05&), 4H$.-%3-)3.93$ %32%33.-%38% 2*%-$$ .1$ ,1$%02 ,.-%)3 -6-$ 3-.96!-3$ 1."")-1$."# -$ ,.-%)3%"1 -$ ,.-%)% 36.3 2)"-$ 3 .,1$ ,3> 8%"2%"#3."21)"-,)00 26-$ 3-.4$%38.1-3$)*3-$.-3$ %3/)* ,0 33-)&)2%8$ ,.1$%"# "+%,)"& "-96!-#%+ 3$ ,.3 "3 )8%2 "-%-4

PAGE 155

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
PAGE 156

@D 3$ &.5 3 + 88),--)# -1$%02, ", .28),5%"2 ,#.,"6!3%"#$ ,)*".1$%"#3-0 6.3 2)"0%&%2)" )")" %",.1-%)"3*%-$1$%02, "4 6rnrnn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n8-$ $.2.6.22.* %-$ $%--%"#9n>00*,%./., "-98),%"3-."1 93.%"#9S)!,9)!5")*93)."23 )9$.2.$.,2-%& 5 /%"#-$ %,$."23-)-$ &3 0+ 3),-$ 8),#)--$ %,0%3"%"# .,3-)2.4> )-$ /., "-3.0*.3 5")*3$)*-$ %,6 $.+%),*.39-$ .0*.35")*%+ ,2.4H$.-%3-)3.93$ 1)&&!"%1.3*%-$/., "-3-$,)!#$.2.%0, /),-4), )+ ,93$ !3 3.2.%0, /),-.3.*.)8 1),, 1-%"#1$%02, ">3&%36 $.+%),93.%"#9Gn8n$.20%5 .6.2-%& *%$.1$%029n>001.00-$ /., "-3&3 08*$%0 n>&$ ."23.9)!5")*9S)."23)$.3$.2.$.,22.91. ")!/0 .3 -.05-)-$ &P>."23)8),-$4H%"8),&%"#/., "-3)8-$ %,1$%02>3&%36 $.+%),. "2.35%"# /., "-3-)$ 0/$ ,3)0+ -$ /,)60 &93$ 2 .03*%-$-$ /,)60 &)8.1$%0 2>3&%36 $.+%),4$%3 %"2%1.3-$.-..1$ ,/., "-, 0.-%)"3$%/1)"-,%6!3-)%&/,)+%"#.. 1$ ,1$%02, 0.-%)"3$%/4 $!39..1$ ,1$%02, 0.-%)"3$%/."2..1$ ,/., "-, 0.-%)"3$%/3 &)6 0 +."-%"-$ 3%-!.-%)"*$ "3$ -,% 3-)2 .0*%-$-$ /,)60 &)8.1$%02>3&%36 $.+%),6 & ."3)8.2.%0 /),-4

PAGE 157

@E n".22%-%)"93$ !3 3.2.%0, /),-.3.*.)8 "1)!,.#%"#1$%02, "")--)6 $.+ 6.209 3.%"#9Gn>003!/9S 9-$%3%3*$.-n>&H ), 7.&/0 92!,%"#*$)0 #,)!/-%& 93$ 8%"23-$.-)" 1$%022) 3")-8)00)*-$ 2%, 1 -%)"3 ."23.39G2.&9n>&*,%-%"#.")$)& -))!,&)&&."22.223.%"#-$.-)!>, ")-9!& B4C9)!>, $.+%"#.$.,2-%& 0%3"%"#."28)00)*%"#-$ 2%, 1-%)"34n2)">--$%"5-$. -)!>, #)"".6 -))$.//*%-$-$.-4Hn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rn nnrnn nnn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

PAGE 158

@ ."2&), )/ "*%-$1$%02, "4$.-%3-)3.9$ ,*.)8.1$%"#),%",.1-%"#* %-$1$%02, "$.3 1$."# 2/)3%-%+ 0)+ ,-%& 9."2-$%3%"2%1.3-$.-$ ,.1$%"# 7/ ,% "1 3-,)"#0%"80! "1 3 $)*."2*$$ ,*.)8*),5%"#*%-$1$%02, "$.31$."# 24 )* + ,93$ 3.3-$.--$ /,)#,.&2%2")-1$."# $ ,.1$%"#3-0 93 .%"#9Gn&.2 & B4C.0%--0 6%-3-,%1,)"&0 33)"/0."30%5 .1-!.00n$. 2-)*,%)!-*$.-n*.3 2)%"#8),B4C9* .22 29!&B4C90%5 35%0032 + 0)/& "-%3"R-3)& -$%"#* $.26 8), "2 ")** $.+ %"-$ )!$.+ 0%5 35%0032 + 0)/& "-9-$ *."-)!, .2%"# + 2. *$%1$%33)& -$%"#n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n"-$ 3%-!.-%)"*$ "-$ /,)#,.&$.3")-8!"2.& "-.001$."# 2$ *.)8 *),5%"#*%-$1$%02, "9$ ,.1$%"# 7/ ,% "1 ."2-$ /,)#,.&.33 )1%.0#))23., 0 +."-4

PAGE 159

@A 6rn rr rnnn"."3%-!.-%)"-$%"#3., 1)"" 12),2%31)"" 129, 0 +."--)),%,, 0 +."--) .1$)-$ ,9%" 1 ,-.%"*.34 D4 ($.-3),-3)81)"" 1-%)"3N0))5%"#6.15*.,2."2I),8),*.,2N., &.2 *%-$%"."2.1,)33!-,."1 3."20.,# 3-, -1$ 3)8-$ %",.1-%)"P 38),-/%1.0.1$ ,1$%02%",.1-%)"32!,%"#& .0-%& 93$ 3.39G $ R39!&9 !"8),-!".0!3!.00")-.0)-)8-%& 8),%",.1-%)"-$.-n$.+ 8)!"296 1.!3 > 3)6!39 )"0$.+ .3 -.&)!"-)8-%& -$.-* >, .00)* 2%"-$ 4Hn"),2 ,)8 2 %#$"-) -* "-1$%02, "9.1$ ,3$.+ -)#%+ -$ &-$ %,/0.3."2&%0593 *$.--$ 2*$ "-$ 8%"%3$ .-%"#9$.+ -$ &/!-.*.-$ %,1$.%,39."210 ."-$ -.60 34$ 3/ "23-$ &.<),%-)8 -$ & .0-%& "1)!,.#%"#1$%02, "")--)-.059-)8%"%3$ .-%"#9."2-)-$,)*-,.3$.*. 4), 7.&/0 93$ 3.39G, )! .-%"#),-.05%"#Pn8)!2)">-$.+ .10 ,/0.%"8,)"-)8)!9)! ., ")--.05%"#4( >, .-%"#."20 .+%"#4($ ")!>, 2)" 9-$,)*%-)!-4n8-$ >3 /0 "-)" )!,/0.92)">-.35& 8),&), 4H$!393$ 3.3-$.-3$ $.30%--0 -%& -)% ",.1-*%-$ 1$%02, "2!,%"#& .0-%& 4$ 3 !-,."1 3., 1)"3%2 2.1$ ,3>2%, 1%+ 36 1.!3 .1$ ,3 21$%02, ")"0-)8)00)*-$ 2%, 1-%)"3,.-$ ,-$." 7/ 1-%"#."8 26.158 ,)&1$%02, "4 %"1 .1$ ,3."21$%02, "$.+ -)2)3)&!1$*),5*%-$%"., 3-,%12-%& 8,.& 9.1$ ,3 .00)*1$%02, ")"0-)!"2 ,3-."2*$.-.1$ ,3., 3.%"#."2-)2)*$.-.1$ ,3 7/ 1%&& 2%.04 n".22%-%)"9.&)"#*$)0 #,)!/98, /0.9."2& .0-%& 93$ 1)"3%2 ,38, /0 .-%& .3-$ 6 3--%& 8), 88 1-%+ .1$ ,1$%02%",.1-%)"393.%"#9G $.->3*$.--$ 9)!5")*9 &), *$.--$ *."".2)."2-$ >, &), 0.7 29)!>, &), 0.7 2!3!.009!"0 33)!>, -,%"#-)2)3)& -$%"# 03 0%5 .".,-.1-%+%-),3)& -$%"#4H!,%"#8, /0.-%& 93$ .00)*3 1$%02, "-)2 1%2 8),-$ &3 0+ 3*$ -$ *."--)#)."2*$.--$ *."--)/0. *%-$4n"

PAGE 160

D )-$ ,*),2391$%02, "$.+ ")*),5-)2)*%-$%".0%&%2-%& 8,.& ."22)")-" 2-)8)00)*-$ 2%, 1-%)"34$ + #)-".-*)3-),$)!3 ")*P)!$.+ .-*)3-),$)!3 P .$4($ )!$.+ )" 80)),-)#)!/3-.%,3."2-$ %3.")-$ ,)" )"-$ -)/Pr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rnr r nnrnnrn5r+nnn"."3%-!.-%)"9)" ),&), 3%#"33&3."2+.,%)!3*.3)85")*%"#., )/ ,. -%+ 9),% "2 -)9."2+.0! 2),2%3+.0! 2%"1 ,-.%"*.34

PAGE 161

D E4 ($.-3%#"33&3., 0 +."-B),%,, 0 +."-C%"-$ 3%-!.-%)"B 4#493/ 1 $9*,%-%"#9 %&.# 3."2# 3-!, 3CP)*., -$ &.2 0 +."-B."2%,, 0 +."-C9."2%"* $.*.3P 38),-$ *.3.1$ ,31."/,)&)88 1-%+ .1$ ,1$%02%",.1 -%)"393$ 3.39 G.+ &), -%& 45%23-$.-., !/$ .002.0)"## -&), 8,)&& -$. "2)-$ 5%23)!$ 10)1593.%"#9G 1.!3 n$.+ 3)&!1$-) 2)."2-$%"#3-$.-" 2-)6 2)" 8,)&& .3..1$ ,9."23/, --6!34Hn".22%-%)"93$ 3.3-$.-3$ $.3")%2 .$)*)-$ ,.1$ 3.1$ 1$%02, "),%",.1-*%-$1$%02, "6 1.!3 3$ $.3")-%& -))63 ,+ )-$ ,.1$ ,34$ .--.1$ 3 .0)-)8%&/),-."1 -)-%& 9."2-%& 3-,)"#0.88 1-3$ ,*.)8.1$%" #."2%",.1-%"#*%-$ 1$%02, "4+ "-$)!#$3$ 2) 3")-2%, 1-0& "-%)"-$.--%& 1)"3-,.%"-3/, + "-$ ,8 ,)& 88 1-%+ 0%",.1-%"#*%-$1$%02, "9$ ,3/ 1$2 &)"3-,.3-$.-3$ %3 !"2 ,/, 33!, -)2)3) &."-$%"#3*%-$%".3$),--%& 8,.& 9."2-$%3&.5 3$ ,$.+ 8 *)//),-!"%% 3-) 88 1-%+ 0 %",.1-*%-$1$%02, "4 n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

PAGE 162

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n$.+ 1$%02*$)*."-3-) $%-1)"3-."-0."2n3%-2)*"*%-$$%&)" )")" ."2, 2%, 1-$%&9n>&3-%00%",. 1-%"#*%-$ $%&9 + "-$)!#$n>&, 2%, 1-%"#$%&4Hn83$ 3 3-$.--$ 1$%02$%-33)& 6)2 93$ "1)!,.# 3 $%&-)#)-).=!% -1)," ,."2, .2.6))5),-)2)*$.-$ *."-3403)93$ 003$%&-)$%-$%3 <.15 -),$%3/%00)*%"3.2)8$%--%"#3)& 6)2 03 4,)&$ ,/, +%)!3 7/ ,% "1 393$ 3.3 -$.--$%33-,.#-)2 .0*%-$-$ /,)60 &, .00*),534$%3%36 1. !3 3$ 3 31$%02, "")$%--%"#."&), 9")-# --%"#.##, 33%+ ."&), 9),")-# --%"#."#,." &), 4($ "1$%02, 2-)3&%36 $.+% ),93$ -.053)" )")" *%-$1$%02, "."2.1$ 3-$ &, / .20$)*-)1)"-,)0-$ %," #.-%+ 8 0%"#34 n"-$ 1.3 )8.1$%02*$).0*.32%3,!/-3-$ 10.33."2&)+ 3-).")-$ ,,))&93$ "1)!,.# 3-$ 1$%02-)/.,-%1%/.%"2%88 "-10.33,))&.1-%+%-% 393. %"#9G$90 -R32)-$%39), 0 -R32)-$%34H)* + ,9-$ 1$%023-%002%3/0.3$%36 $.+%),.0/,)60 &39 ."23$ $.3-,)!60 2 .0%"#*%-$-$ /,)60 &438),-$ .3)"-$.-3$ 2) 3")-$.+ .#))2, 0.-%)"3 $%/*%-$-$ 1$%0293$ 3.39G)& -%& 3)!33.2-)3.9 6!-8),

PAGE 163

D' -$%31$%029$%&."2n98),3)& .3)"936 $.+%),.0/,)60 &3!"-%03$ 1)"8%,&3-$.-1$%02, ">36.26 $.+%),3., 1),, 124n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n")-$ ,*),239-$ 1$%02, "*$)3/ .5"#0%3$ .3.3 1)"20."#!.# %"$ ,10.33,))&., .60 -)80! "-0 7/, 33-$ %, -$)!#$-3."28 0%"#39 ."23$ %3.60 -) .3%08%#!, )!-*$.--$ %,, .1-%)"3-)$ ,*),23& ."4$!3 93$ 2) 3")1)"3%2 ,-$ 0."#!.# 6.,,% ,.3.6.,,% ,-) 88 1-%+ .1$ 1$%02%",.1-%)"34 n".22%-%)"93$ %3+ ,* 00.1=!.%"2*%-$$ ,1$%02, "."2*$.-8 26.158,)&$ 1$%02, ".6)!-$ ,*),23& ."34%"1 &)3-)8-$ 1$%02, "%"$ ,10.33,))&$.+ .-"2 2-$

PAGE 164

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n",&3)8$ ,2 8%"%-%)")8 88 1-%+ .1$ ,1$%02%",.1 -%)"N1$%02, ">3 /)3%-%+ .1-%)"-)*$.-.1$ ,3., 3.%"#93$ %3.60 -) 88 1-%+ 0 %",.1-*%-$ + ,3%"#0 1$%02%"$ ,10.33,))&43., 3!0-9%"-$ 3%-!.-%)"*$ "3$ %",.1-3*%-$1$%02, "* $)3/ .5 "#0%3$.3.3 1)"20."#!.# %"$ ,/, 5%"2 ,#.,"10.33,))&9"#0%3$."2.00-$ )-$ 0."#!.# 3., %,, 0 +."-4

PAGE 165

D@ @ nnrrrnr $%3=!.0%-.-%+ 3 .,1$/,)< 1-.%&3-)%"+ 3-%#.6.,,% ,3)."28.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 9%" +)0!"-.,/, 5%"2 ,#.," /,)#,.&3%"1$%021., 3 --%"#34n"-$%31$./,n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n".22%-%)"9n*%00.22, 33$)*-$ 8%"2%"#3)8-$%33-!2., 1)"" 12* %-$-$ 3!0-3 )8/, +%)!3, 3 .,1$9."2&.5 3)& 1)&& "2.-%)"38),8!,-$ ,, 3 .,1$ 9*$%1$., %""2 2 -))+ ,1)& 3 + ,.00%&%-.-%)"3)8-$%33-!2.3* 00.3-)0 .28!,-$ ,, 3 .,1$-)8)1!3)" %&/,)+%"# 2!1.-%)".0/,.1-%1 4%".009n*%003$)*$)*-$ 8%"2%"#3)8-$%3 3-!21."6 &/0) 26%", 32/,.1-%-%)" ,39%"10!2%"#.1$ ,39/)0%1&. 5 ,39."2, 3 .,1$ ,34 !nnrrnn %,3-9-$ .1$ ,3>*),23-$.-., 8, =! "-0!3 2%"-$ 10.33,))&N%"10!2%"#.05 900 9 3 90 .," 9!"2 ,3-."2 9."25")* N$.+ &."2%88 "-3%-!.2& ."%"#34r)" -$ 0 339-$ 3 *),23., 1)&&)"0!3 28),-*)/!,/)3 3)" %3-)$.+ 1$%02, "2)*$.-.1$ ,3 7 / 1-L-$ )-$ ,%3-)#%+ 1$%02, ".1$."1 -)6 .*., )83)& -$%"#" *),.0, .25")* "4$.-%3-)3.9

PAGE 166

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n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

PAGE 167

DE 1)"3%2 2 33 "-%.08),3!11 338!031$))0, .2%" 3343., 3!0-9-$ -$, .1$ ,3" 21$%02, -)3!11 2%"5%"2 ,#.,"6$.+%"#.#))2+)1.6!0.,),!3%"#-$ %,)*"*),234 $ .1$ ,3> &/$.3%3)"1$%02, ">30%,.1, .2%" 33%33-,)"#0 0.2-)-$ 8.1--$.-$ ., 1)"1 ," 2.6)!--$ 31$))0>3.11)!"-.6%0%-4$ /,)#,.&-$. -%3.%&%"#.-, 3!0-3 6.3 2.11)!"-.6%0%-3, 3!0-36.3 2.11)!"-.6 %0%-&.5 3-$ -$, .1$ ,3#%+ /,%),%--)-$ 3-."2.,238),5%"2 ,#.,"4), 7.&/0 91 $%02, "/,.1-%1 *,%-%"# -$ %,".& 3%"./.,-%1!0.,*.-$.-%3!3 2%"5%"2 ,#.,"10.33,))&3),., .11!3-)& 2-). 5%"2 ,#.,"0%8 3-0 93!1$.3-,.+ 0%"#2%88 "-.1-%+%-,))&34$. +%"#1$%02, "-$%"5."2 6 $.+ .11),2%"#-)-$ ,!0 3."23-."2.,238),5%"2 ,#.,"9.1$ ,3 7/ 1 --$.-1$%02, "*%00 # -#))23-, 3!0-3%"5%"2 ,#.,"6 1.!3 1$%02, "., .0, .28.&% 0%.,*%-$."5%"2)83."2*$.-5%"2 ,#.,".1$ ,3 7/ 1-43., 3!0-9-$ -$, .1$ ,3&)3-0 %",.1-*%-$ 1$%02, "%"),2 ,-)$.+ 1$%02, "3!11 2%"5%"2 ,#.,"66 %"#.11!3-)& 2-)-$ ,!0 3."2 3-."2.,238),5%"2 ,#.,"-$,)!#$-$ %,2.%0,)!-%" %"-$ 10.33,))&4 1)"29-$ -$, .1$ ,3$.+ 2%88 "-%2 "-%-% 3.3./, 5%"2 ,#.,".1$ ,9 &/0) 9."21)00 .#! 43./, 5%"2 ,#.,".1$ ,9-$ ., /,)!2)8 /, /.,%"#1$%02, "8), 5%"2 ,#.,"."2)83 %"#1$%02, ".1=!%, -$ 1 33.,35%0038),5%"2 ,#.,"4)* + ,9.3." &/0) 9-$ 3$)*-$ %,0%&%2.6%0%-% 3-)2 1%2 -$ 1!,,%1!0!&)8-$ %, 10.33,))&."2-) 1$."# -$ %,.1$%"# "+%,)"& "-39%"10!2%"#-$ .1$ ,1$%02,.-%)."2%& 8,.& )8-$ /,)#,.&4%"1 -$ 1!,,%1!0!&)8-$ %,10.33,))&%36.3 2)"6)-$-$ 3-."2. ,23."2-$ 31$))01!,,%1!0!&-$.-$.32 + 0)/ 2)+ ,-$ .,39%-$.,20, 80 1-3-$ %, )*")/%"%)"3),

PAGE 168

D -$)!#$-34n"/.,-%1!0.,9-$ -%& 8,.& )8-$ /,)#,.&/, + "-3.1$ ,38,)&1, .-%+ 0 -$%"5%"#.6)!-."22 + 0)/%"#-$ %,)*"1!,,%1!0!&4%"1 -$ -$, .1$ ,3$.+ -)1.,,)!-3) &!1$*),5, 0.2-)%"3-,!1-%)"*%-$%")"0-$, $)!,39-$ 1."")-3/ "2-%& 2)%"#-$% "#3 )-$ ,-$.".1$%"#1$%02, "."22)%"#/./ ,*),54$!39-$ -$, .1$ ,31)&/0 .%".6)!--$ -%& 8,.& )8-$ /,)#,.&2%, 1-0),%"2%, 1-0L-$.-%39-$ 3. -$.--$ 2)")-$.+ ")!#$-%& -)-.05-) .1$1$%02),-$ 3/ .58.3-9 3/ 1%.002!,%"#*$)0 #, )!/-%& 9%"),2 -)-,."3&%--))&!1$%"8),&.-%)"-)1$%02, "*%-$%".3$),--%& 8,.& 4)* + ,9.1$ ,3 1."")-1$."# -$ -%& 8,.& 6 1.!3 %-%33 -6-$ 3-."2.,234$%3 %"2%1.3-$.-.1$ ,3 $.+ 0%&%2.11 33-)2 1%3%)"&.5%"#/,)1 33 39%"10!2%"#-$ 1!,,%1!0!& ."231$ 2!0 )8-$ %, 10.33,))&9.3* 00.38 *)//),-!"%-% 3-)+)%1 -$ %,)/%"%)"3)" 2!1.-%)".0, 8),&4 $ -%& 8,.& .03)/, + "-3.1$ ,38,)&3$.,%"#%"8),&.-%)"*%-$)-$ .1$ ,33%"1 -$ ., -))6!3-)-.05-) .1$)-$ ,4+ "-$)!#$-$ 0.-%)"3$%/3.&)"#.1$ ,3 +., .11),2%"#-)-$ -$, .1$ ,3>*),5%"# "+%,)"& "-39-$ 1)&&)"0$.+ %"3!8 8%1% "--%& -) -.05-))-$ ,.1$ ,3.6)!.1$1$%02>3" 23),.*.)8%",.1-%"#* %-$%"2%+%2!.01$%024 )63 ,+%"#)-$ ,.1$ ,39.1$ ,3., .60 -), 80 1-)"-$ %,)*"*.3) 8.1$%"#),%",.1-%"# *%-$1$%02, ".3* 00.3-)8%"2*.3-))+ ,1)& -$ %,* .5" 33 3."2, %"8 ),1 -$ %,3-, "#-$34 ), )+ ,9.1$ ,31."2%31!33-$ ),#."%:.-%)"."2&.".# & "-)831$))033& 3*%-$)-$ .1$ ,3."23 .,1$8),.6 -,*.)8&)2%8%"#-$ %,*),5%"# "+% ,)"& "-34$ 8), 9-$ 8.1--$.--$ -$, .1$ ,3$.+ 0%--0 -%& -)-.05-) .1$)-$ ,%"2%1.3-$.--$ $.+ 8 )//),-!"%-% 3-)1),, 1-., .0/,)60 &-$.-%&/.1-3-$ %,)*".3* 00 .31$%02, ">30%+ 39 %"10!2%"#-$ #.-%+ 88 1-3)8-$ 3-.1), 1!,,%1!0!&, /, 3 "26-$ 3-."2.,23)" .1$ ,1$%02%",.1-%)"343., 3!0-9-$ .1$ ,3>0%&%2-%& -)-.0 5-) .1$)-$ ,%"2%1.3

PAGE 169

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n"/.,-%1!0.,93%"1 -$ .1$ ,3" 2-)# -1$%02, ", .2 8),5%"2 ,#.,"9-$ ., 3 ,%)!30*),,% 2-$.--$ 3 1$%02, "*%00")-3!11 2%"5%"2 ,#.,"6 1.! 3 )8-$ %, &%3!"2 ,3-."2%"#)8.1$ ,3>*),234%&%0.,09-$ .1$ ,3., 1)"1 ," 2 .6)!-1$%02, "*$) $.+ & "-.0),6 $.+%),.0/,)60 &393%"1 -$ $.+ 2%88%1!0-%",.1-%"# *%-$-$ 1$%02, "."2 /, /.,%"#-$ 1$%02, "8),5%"2 ,#.,"4 $ -$, .1$ ,3&.5 ." 88),--)$.+ )" )")" %",.1-%)"*%-$1$%02, "%"),2 ,-) 2 .0*%-$-$ 3%-!.-%)"*$ "-$ $.+ -,)!60 %",.1-%"#*%-$1$%02, "4 ".60%"#-$ .1$ ,3 -)8%#!, )!-."2, 3/)"2-) .1$1$%02>3" 239)" )")" %",.1-%)"*%-$1$%02, "$ 0 /3-$ & !"2 ,3-."2*$.-.1$%02%3-$%"5%"#."28 0%"#.3* 00.3*$.-5%"2)8/,)60 &-$ 1$%02$.34), 7.&/0 9*$ ".1$ ,3" 2-)5")*%8.1$%02!"2 ,3-."23-$ 2%, 1-%)"3),-)&.5 3!, -$.-. 1$%028)00)*3-$ 2%, 1-%)"39-$ .35-$ 1$%02.=! 3-%)".6)!--$ 2%, 1-%)"3. "2#%+ -$ 1$%02. 1$."1 -)."3* ,-$ =! 3-%)"4n".22%-%)"9*$ ".1$%022%3/0.3.6 $.+%),.0/,) 60 &0%5

PAGE 170

E $%--%"#3)& 6)2),# --%"#.##, 33%+ 8, =! "-09.1$ ,3-.05-)-$ 1 $%0290%3"-)-$ 1$%02>3 *),239/)%"-)!--$ 1$%02>3/,)60 &9."23!## 3-.")-$ ,.1-%+%-),, .2-$ 1$%0 2.6))54($ .1$%020))53!/3 -9.1$ ,31)& -)-$ 1$%029.35*$.-%3$.// "%"#-)-$ 1$%029."2$ 0 /-$ 1$%028%"2*.3-)3)0+ -$ /,)60 &4n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n"-$ %,10.33,))&3-*).1$ ,3. !3!.00, 3/)"3%60

PAGE 171

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n"1)"10!3%)"9-$ -$, .1$ ,31."")-$ 0/6!-$.+ 0%&%2)" )")" %",.1-%)"*%-$1$%02, "6 1.!3 -$ .1$ ,3-$ &3 0+ 31."")-&)2%8-$ 3 + ,.08.1-),3-$.-%&/ 2 )" )" )" %",.1-%)"*%-$ 1$%02, "9%"10!2%"#-$ -%& 8,.& )8-$ /,)#,.&.3* 00.3-$ 1$ ,1$%02,.-%)."2 10.333%: 3 -6-$ 3-."2.,234 rnnrrn 6nn( &n 'nr rnn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

PAGE 172

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

PAGE 173

E' 1$%02, "/..-"-%)"-)-$ %,*),23."20 .,"" *35%003),8.1-34 .1$ ,3. 03)" 21$%02, "-) 3%-."20%3",.-$ ,-$."3/ .59-)#%+ 7/ 12."3* ,3-).1$ ,3>=! 3-%)"39),-)3.-$ ,%#$-*),23-$.-.1$ ,3.0, .25")*4$!39.1$ ,3/, 8 ,8, /0.-%& ),& .0-%& -) *$)0 #,)!/-%& 93%"1 -$ ., .60 -)8 0&), 0.7 2."28, 0.05-)1$%02, ".6)!2%+ ,3 %33! 32!,%"#-$.--%& 4r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n"),2 ,-)&.5 3!, -$.-$ %,1$%02, "*%008., 00%"5%"2 ,#.,"9.1$ ,3%"+)0+ 1$%02, "%"-$ 3 10.33,))& .1-%+%-% 362 / "2%"#)"-$ /, /.15.# 21!,,%1!0.-$.-1)"-,)01$%02, ">32%88 "2 + 0)/& "-.02)&.%"39%"10!2%"#$ .0-$."23)1%.0I &)-%)".0I&)-),2 + 0)/& "-90 ."#!.# ."2 1)&&!"%1.-%)"9 & ,# "-0%,.1B, .2%"#, .2%" 33C91)#"%-%+ 2 + 0 )/& "-9."2# ,.0 5")*0 2# 4$!39-$ /, /.15.# 21!,,%1!0.-$.-3-,)"#0, 80 1--$ 3-."2.,238),5% "2 ,#.,"

PAGE 174

E? ., 1)"3%2 2.3-."2.,28),*$.-%3,%#$-."2*$.-%3#))2%"-$ /,)#,. &%"1$%021., 3 --%"#34$ /, /.15.# 21!,,%1!0..3.3-."2.,21)"-,)0-$ .1$ ,3 >.6%0%-% 3-)-$%"5."25")* ."2-$!3&.5 .1$ ,30)3 -$ %,1)"8%2 "1 %"-$ %,*.3)8-$%"5%"#."26 $.+%"# 43., 3!0)8-$%30.15)81)"8%2 "1 9.1$ ,3$.+ 8 *)//),-!"%-% 3-)1, .-$ %,)* "0 33)"/0."3."2 #)-%.-$ &*%-$1$%02, ".3* 00.3-$ %,/., "-39."2-$!396)-$.1$ ,3 ."21$%02, "$.+ 8 *)//),-!"%-% 3-)2 + 0)/-$ %,)*"1,%-%1.0-$%"5%"#."2/,)60 &3)0+%"#3 5%0034 nn( &n 'nr rnn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

PAGE 175

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n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n"/.,-%1!0., 9-$ $ 1-%131$ 2!0 3 )8-$ /,)#,.&$.+ 8!,-$ ,%"1, .3 2-$%33%-!.-%)"."2&.5 .1$ 3$.+ 8 )//),-!"%-% 3-)-.05-) .1$)-$ ,-$."%"-$ /.3-4$!39.1$ ,3" 2-).1-%+ 0 -.5 ." )//),-!"%--)1)&&!"%1.*%-$)-$ ,.1$ ,3."2%&/,)+ -$ %,, 0.-%)"3$%/ 3*%-$)-$

PAGE 176

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n", .0%-9. 1$ ,3%"-$ /,)#,.& $.+ 2%88%1!0-%"1)&&!"%1.-%"#*%-$1$%02, "*$)3/ .5"#0%3$.3.3 1)"20 ."#!.# ."2%" 88 1-%+ 0%",.1-%"#*%-$-$ &48,-$ 1$%02, "/%15!/"#0% 3$."2!"2 ,3-."2*$..1$ ,3., 3.%"#9.1$ ,33-%00$.+ 2%88%1!0-%" 88 1-%+ 0% ",.1-%"#*%-$-$ 1$%02, 6 1.!3 )8-$ %,/., "-3>0%&%2"#0%3$/,)8%1% "14$ %,/ ., "-3$.+ -,)!60 1)&/0 0 !"2 ,3-."2%"#-$ 1)""-)8-$ /,)#,.&."23!11 338!002%31!33%"# -$ 1$%02, ">3 %"2%+%2!.0" 23*%-$.1$ ,34 .1$ ,31!,, "-0%",.1-*%-$1$%02, "8 ,)&&!1$&), 2%+ ,3 -$"%19,.1%.091!0-!,.09."23)1%) 1)")&%16.15#,)!"23-$."%"-$ /.3-9. "2-$ 3 1$%02, "1)& -)31$))0*%-$&!1$2%88 "-0 .,"%"# 7/ ,% "1 3."2+.,% 22 + 0)/& "-.0 23BO%&%0 39C4$ 8), 9-$ .1$ ,3>&%3!"2 ,3-."2%"#)81$%02, ">32% + ,3 1!0-!,.0 ."23)1%) 1)")&%16.15#,)!"23/, + "-3.1$ ,38,)&6 %"#.*., )81$%0 2, ">3%"2%+%2!.0 23."21),, 1-0%",/, -%"# .1$1$%02>3-$)!#$-3."28 0%"#34$,)!#$." !"2 ,3-."2%"#)8 5")*0 2# 9%2 "-%-9."21!0-!, %"1$%02, ">3)*"0%+ 39.1$ ,3., .60 -)$ 0/ 1$%02, "-)

PAGE 177

EE 1)"3-,!1-."2.,-%1!0.-$ %,)*"5")*0 2# .3* 00.3-).##, 33%+ 03)0+ -$ %,)*"/,)60 &3 .3.1-%+ 3!6< 1-34!nn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n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

PAGE 178

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rr rn+n&n# nn %",/, -.-%)"3)8-$ 8%"2%"#3., 1)"" 12*%-$-$ 3!0-3)83 + ,. 0/, +%)!3 3-!2% 3, +% 2%"$./,4$.-%3-)3.9&%",/, -.-%)"3)8-$ 8%"2%"#3)8 -$%33-!2., 6.3 2)"-$ 0 33)"30 .," 2%"."!&6 ,)8/, +%)!393%&%0.,3-!2% 39."2-$ $/)-$ 3 3%"-$%3

PAGE 179

EA 3-!2., 3!//),26-$ 8%"2%"#3)8-$%33-!24--$ 3.& -%& 9&8% "2%"#3$.+ ./)3%-%+ 88 1-)"&%",/, -.-%)"3)8/, +%)!3, 3 .,1$6/,)+%2%"#.* .0-$)831% "-%8%1 +%2 "1 -$.3!//),-3.3* 00.3 7/."23-$ 3!0-3)8/, +%)!3, 3 .,1$4n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n"/.,-%1!0.,9-$%38.1-%3 )63 ,+ 2%"-$ -$, .1$ ,3>

PAGE 180

10.33,))&3, #.,20 33)8-%& ."2/0.1 93%"1 -$ &.%".1-%+%-)8-$ -$, .1$ ,3%3-)# 1$%02, ", .28),5%"2 ,#.,"6&.5%"#-$ &!"2 ,3-."2*$.--$ 2-)5")*)#)-) 5%"2 ,#.,"403)9%15%"3)">3B6C3-!2 ".60 3& -)8%#!, )!-*$.-5%"23)8*),23 -$ -$, .1$ ,38, =! "-0!3 %"-$ 10.33,))&."2*$-$ -$, .1$ 38, =! "-0!3 1 ,-.%" *),239%"10!2%"#-.05 900 93 90 .," 9!"2 ,3-."2 9."25")* 4n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

PAGE 181

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

PAGE 182

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

PAGE 183

' 1!,,%1!0.9."2-$ 3 0%&%--$ %,.6%0%-% 3-)1$."# 2!1.-%)".0, 0.-%)"3), 3-."2.,234$ .1$ ,3>0%&%2.6%0%-% 3/, + "--$ &8,)&3//%"#6.158,)&-$ % ,10.33,))&/,.1-%1 3."2 1)"3%2 ,%"#6,).2 2!1.-%)".01)"1 ,"3), &/0)%"#.&), $)0%3-%1+% )8.1$%"#4n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rnnrn nn $ 8%"2%"#3)8-$%33-!2., + ,!3 8!08),.1$ ,3%"3-.8!"2 2/, 5% "2 ,#.," /,)#,.&3-)%",.1-&), 88 1-%+ 0*%-$1$%02, "4$ 8%"2%"#3)8-$%33-!2 3$)*-$ ".-!, )8 .1$ ,1$%02%",.1-%)"3, 3!0-%"#8,)&-$ 1$.,.1,%3-%13)8-$ /,)#,.&%"1$%021., 3 --%"#398), 7.&/0 9$)*.1$ ,3%",.1-*%-$1$%02, "*%-$%"-$ %& 8,.& )8-$ /,)#,.&9$)*-$ 1!,,%1!0!&)8 .1$10.33,))&6.3 2)"-$ #!%2 0%" 38),$ /,)#,.&%"80! "1 3.1$ ,1$%02%",.1-%)"39."2$)*-$ .1$ ,1$%02,. -%)."210.333%: 3 6-$ 3-."2.,23.88 1-.1$ ,1$%02%",.1-%)"34!1$%"8),&.-%)"1. "6 !3 26.1$ ,3 %")-$ ,3-.8!"2 2/, 5%"2 ,#.,"/,)#,.&39%"10!2%"#)-$ ,10.3 3,))&39 + "-$)!#$ -$ 0 + 03)83!//),-3 ,+%1 3)83-.8!"2 2/, 5%"2 ,#.,"/,)#,.& 3.3* 00.3.1$

PAGE 184

? =!.0%8%1.-%)"3., + ,2%88 "-.11),2%"#-)*$ -$ 10.33,))&$.// "3 -)6 0)1.24 .1$ ,3., .60 -), 80 1-)"-$ %,)*"*.3)8%",.1-%"#*%-$1$%02, "%"-$ %,3-.8!"2 2 /, 5%"2 ,#.,"10.33,))&3.3* 00.3-$ 88 1-3)83-.8!"2 2/ 5%"2 ,#.,"/,)#,.&3)" -$ %,%",.1-%)"3*%-$1$%02, "4$!3968%#!,%"#)!--$ ".-!, ."2=!.0%)8-$ %,)*" %",.1-%)"3*%-$1$%02, "9.1$ ,3%"3-.8!"2 2/, 5%"2 ,#.,"/, )#,.&3., .60 -)8%"2 *.3-) 88 1-%+ 0%",.1-*%-$1$%02, "4 n"/.,-%1!0.,9-$ 8%"2%"#3)8-$%33-!2., $ 0/8!08),.00.1$ ,3-) 6 .*., )8-$ %&/),-."1 )8-$ 88 1-%+ .1$ ,1$%02%",.1-%)"3-$.&/)* 6)-$.1$ ,3."21$%02, "4 $ 8%"2%"#3)8-$%33-!210.,%8-$, 6.,,% ,3-) 88 1-%+ .1 $ ,1$%02%",.1-%)"39.32 8%" 2 8,)&.1,%-%1.0/ ,3/ 1-%+ 9%"+)0!"-.,/, 5%"2 ,#.,"/,)#,. &3%"1$%021., 3 --%"#36 3$)*%"#-$ 1.!3 3."2/,)60 &3)8-$ !"%0.,.0.1$ ,1$%02%",.1 -%)"3.3* 00.3-$ 88 1-3 )8-$ 6.,,% ,3)"6)-$.1$ ,3>."21$%02, ">31,%-%1.0-$%"5%"#."2/,)60 &3)0+%"#35%003403)9 -$ 8%"2%"#3)8-$%33-!23/ 1%8%1.003!## 3--$, 8.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02 %",.1-%)"36 7/0.%"%"#*$.--$ ,.-%)".0 )8-$ 8.1%0%-.-),3, 3!0-38,)&."2$)*.1$ ,31." /,)&)88 1-%+ .1$ ,1$%02%",.1-%)"3%"., .03%-!.-%)"4$ 6. ,,% ,3-)."28.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"3., .//0% 2-)+)0!"-.,/, 5%"2 #.,"/,)#,.&3%"1$%02 1., 3 --%"#34r + ,-$ 0 339.1$ ,3%" + ,10.33,))&., .60 -)!3 3!1$%"8),&.-%)".6)!-$ 6.,,% ,3."28.1%0%-.-),393%"1 &)3-)8-$ 1)"+ ,3.-%)"36 -* ".1$ ,3."21$%02, "%" 10.33,))&3., 1$.,.1,%: 2.3!"%0.,.0."2, 80 1-.1$ ,.!-$),% -)+ ,1$%02, "4!1$ %"8),&.-%)"#%+ 3.1$ ,3.1$."1 -)6 .*., )8-$ !"%0.,.0.1$ 1$%02%",.1-%)"3."2-) )+ ,1)& -$ ")-%)"-$.--$ ., %"1./.60 )81$."#%"#-$ 3-.-!3=!)4$ 8), 963 .,1$%"# 8),3/ 1%8%13-,.#% 3-)2 + 0)/ 88 1-%+ .1$ ,1$%02%",. 1-%)"3*%-$%"-$ %,)*"!"%=!

PAGE 185

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n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

PAGE 186

D /)3-&)2 ,"%3&4%"1 -$%33-!22 31,%6 3.1$ ,3>6 $.+%),."23/ 1$-$, )!#$-$ %,.1-!.0 *),239, 3 .,1$ ,3., .60 -) .3%0%&.#%" $)*.1$ ,3%",.1 -*%-$1$%02, "%".".-!,.0 10.33,))&3 --%"#4n"/.,-%1!0.,9-$ -$ ), -%1.0),% "-.-%)")8/)3-&)2 "%3& ".60 3-$%33-!2 -) 7/0.%"$)*.1$ ,3>/)* ,)+ ,1$%02, "%3 7 ,1%3 22%88 "-0*% -$%".3/ 1%8%110.33,))& 3 --%"#4$.-%3-)3.9-$%33-!22 31,%6 3$)*-$ ),#."%:.-%)"."2&.".# & "-)82. %0 ,)!-%" 3., %&/0 & "22%88 "-06 .1$.1$ ,>3."231$))0>31 $.,.1,%3-%13.3* 00.3 $)*.1$ ,3%",.1-*%-$1$%02, "2%88 "-0*%-$%"-$ 3 2%88 "-10 .33,))&3 --%"#34n" .22%-%)"9-$%33-!2%2 "-%8% 3."210.33%8% 3.1$ ,3>6 $.+%),."23/ 1$6& ."3)81)"3%3"-$ ), -%1.0),% "-.-%)"1,%-%1.0-$ ),."2/)3-&)2 ,"%3&400)8-$ 1$ ,3>6 $.+%),."2 3/ 1$., %2 "-%8% 2."210.33%8% 26.3 2)"-$ ")-%)"-$.-.1$ ,3.3 -$ )//, 33),38),1 1$%02, "-)0 .,"-$ 2)&%"."-1!0-!, ."2%2 )0)#-$,)!#$-$ %",.1-%)"3*%-$ 1$%02, "9."2 .1$ ,3.3-$ )//, 33 2., 8),1 2-)1)"-,%6!-)&.%"-.%"%"#-$ 3)1% .0%" =!.0%-% 3*%-$%"-$ $% ,.,1$%1.03-,!1-!, )831$))034$!396!3%"#-$ -$ ), -%1.0),% "-.-%)" )81,%-%1.0-$ ),."2 /)3-&)2 ,"%3&9, 3 .,1$ ,3., .60 -)2 + 0)/-$ %,31$)0.,0!"2 ,3-. "2%"#)8-$ ".-!, )8 .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1$%0 21., 3 --%"#34 # rrnnn# nnn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

PAGE 187

E %,3-)8.009-$%3=!.0%-.-%+ 3 .,1$/,)< 1-)88 ,3/.,-%.0 +% 2 "1 )"%",".0+.0%2%2 3/%%-33 + ,.03-,.#% 3-) "$."1 %",".0+.0%2%-9%"10!2%"#G& &6 ,1$ 1539H*$%1$ 8 ,3-)-.5%"#2.-.."2"-.-%+ %",/, -.-%)"36.15-)-$ / )/0 8 ,)&*$)&-$ ., 2 ,%+ 2 ."2.35%"#-$ &*$ -$ ,),")--$ %",/, -.-%)"3., /0.!3%60 B ,,%.&9AA9 /4?C4 r + ,-$ 0 339-$%3, 3 .,1$/,)< 1-/,)+%2 3%"3!88%1% "+%2 "1 )"-$ +. 0%2%-)8-$ 8%"2%"#39 3%"1 -$ 2.-.* 1)00 12)+ ,.3$),-/ ,%)2)8-%& 4n".22%-%)"93%"1 -$%3, 3 .,1$/,)< 1*.31)"2!12)+ ,.3$),-/ ,%)2)8-%& 9n2%2")-$.+ 3!88%1% "--%& -) 3-. 60%3$.10)3 ,.//),-*%-$-$ /.,-%1%/."-34$%3%"2%1.3-$.-6)-$n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n8)1!3 2)"-$ /.,-%1!0.,,.-$ ,-$."-$ # ,. 0."2-$!33 0 12-$, /.,-%1%/."-3!3%"#-$ /.,-%1!0.,1,%,%.-$.-1)!023 ,+ -$ /!,/ )3 )8-$%33-!243., 3!0-9-$ 3%-!.-%)"3)8-$%33-!2., ")--/%1.09."2-$ 8%"2%"#3)8-$%33-!21."")-6 .2%0.//0% 2-) )-$ ,3%-!.-%)"34$ 8), 9.")-$ ,, 1)&& "2.-%)"8),8!,-$ ,, 3 .,1$%3 -)%"+ 3-%#.-$

PAGE 188

".-!, )8.1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3 %"3 --%"#3)-$ ,-$." 1$%021., 3 --%"#348)1!3%"#)"*$ +)0!"-.,/, 5%"2 ,#.,"/,)#, .&3-.5 /0.1 9 8!,-$ ,, 3 .,1$)"-$ ".-!, )8.1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.," /,)#,.&3%"3 --%"#3)-$ ,-$."1$%021., 3 --%"#3*)!02)88 ,&), ."22 / ,%"8),&.-%)" .6)!--$ ".-!, )8.1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3403)93!1$ 3 .,1$*)!02%"10!2 2%88 "-*.3)8 &/)* ,%"#6)-$.1$ ,3."21$%0 2, "-$,)!#$ 88 1-%+ .1$ ,1$%02%",.1-%)"39.32 8%" 28,)&.1,%-%1.0/ 3/ 1-%+ 4$%3%36 1.!3 3!1$ 3 .,1$ ".60 3.1$ ,3-)8%#!, )!--$ %,)*".3* 00.3-$ %,*),5/0 .1 3>3-, "#-$3."2 .5" 33 3."2-)&), 3!11 338!008%"2*.3-)8.1%0%-.88 1-%+ .1$ ,1$%02%",.1-%)"3%" -$ %,10.33,))&343., 3!0-9.1$ ,3., .60 -)$.+ &), 1)"8%2 "1 -$.--$ ., 1./.60 )8 1$."#%"#-$ 3-.-!3=!)4 n"8.1-9-$ ")-%)"-$.-.1$ ,3., .60 -)8.1%0%-.88 1-%+ 1$ ,1$%02%",.1-%)"39 .32 8%" 28,)&.1,%-%1.0/ ,3/ 1-%+ 92) 3")-2%, 1-0%"2%1.-$.-$ ., .60 -))+ ,1)& 3 + ,.06.,,% ,3-) 88 1-%+ .1$ ,1$%02%",.1-%)"34)* + ,9-$ /,)1 33)83 .,1$%"#8),."2 !3%"#2%88 "-3-,.#% 3-)8.1%0%-.88 1-%+ .1$ ,1$%02% ",.1-%)"32%, 1-01)"-,%6!3-) -$ &/)* ,& "-)8.1$ ,3."21$%02, "9."2-$%3 &/)* ,& "-0 .23.1$ ,3)8%"2*.3-) )+ ,1)& 3 + ,.06.,,% ,3-) 88 1-%+ .1$ ,1$%02%",.1-%)"34 $%3%36 1.!3 -$%3/,)1 33%3 6.3 2)"-$ .1$ ,3>.*., 33)8-$ 1.!3 3."2/,)60 &3)8-$ !"%0., .0.1$ ,1$%02 %",.1-%)"3%"-$ %,10.33,))&3L-$.-%39-$%3/,)1 331)& 38,)&-$ .1 $ ,3>.*., 33)8-$ 8.1--$.-.1$ ,.!-$),%-)+ ,1$%02, "/, + "-36)-$.1$ ,3."21$%02, "8,)&1,%-%1.00 -$%"5%"#."2%"2 / "2 "-03)0+%"#/,)60 &34.15")*0 2#%"#-$ %&/),-."1 )8 88 1-%+ .1$ ,1$%02%",.1-%)"N-$ /,)1 33-$.-0 .236)-$.1$ ,3."21$%02, "-)3)0+ -$ %,)*" /,)60 &3-$,)!#$1,%-%1.0-$%"5%"#9.1$ ,3., .60 -)1$."# -$ %,/ +%)!3!"2 ,3-."2%"#)8

PAGE 189

A 88 1-%+ .1$ ,1$%02%",.1-%)"403)9.1$ ,3., .60 -)" #)-%. -$ %,0 33)"/0."3), 0 .,"%"#& -$)23*%-$-$ %,1$%02, ".3* 00.3-)6 #%"*%-$1$%02, ">3*) ,23),!"2 ,3-."2%"#34 .1$ ,3., .60 -)-.5 .1-%)"-)1$."# -$ %,*),5%"# "+%,)"& "-3."21)"8% 2 "-0+)%1 -$ %,)/%"%)"3.6)!--$ 31$))01!,,%1!0!&4$!39%-%3%&/),-."-8),.1$ ,3-)8%"2* .3-) 8.1%0%-.88 1-%+ .1$ ,1$%02%",.1-%)"39.32 8%" 28,)&.1 ,%-%1.0/ ,3/ 1-%+ 9%"-$ %, 10.33,))&368%#!,%"#)!--$ %,)*".3* 00.3-$ %,*),5/0.1 3>3 -, "#-$3."2* .5" 33 34n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n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

PAGE 190

A 1$%02%",.1-%)"3*%-$)-$ ,.1$ ,34n".22%-%)"96# --%"#%"8),&.-%)". 6)!-6.,,% ,3-)."2 8.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5% "2 ,#.,"/,)#,.&3%"1$%02 1., 3 --%"#39%", 32/,.1-%-%)" ,3., .60 -)8%#!, )!--$ ".-!, )8.1$ ,1$%02%",.1-%)"3 %"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3."28%"2*.3-)%&/,)+ -$ =!.0%)8+)0!"-.,/, 5%"2 ,#.,"/,)#,.&34 n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

PAGE 191

A rnF nrnnrrrr rn'rr n n n1 .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5%"2 ,#.,"/,)#,.&3%"1 $%021., 3 --%"#31,%-%1.0.".03%3)86.,,% ,3."28.1%0%-.-),3nnnn rrn rn nnn nn nrnn8nn nnn n1n $ /!,/)3 )8-$ 3-!2%3-)%"+ 3-%#.6.,,% ,3-)."2 8.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02%",.1-%)"3%"+)0!"-.,/, 5% "2 ,#.,"/,)#,.&3%"1$%02 1., 3 --%"#349nn+nn5nnnrnn1n )/.,-%1%/.%"-*))" $)!,8),&.0%",+% *3 ."2-$, &%"!%"8),&.0%",+% *3.8, .1$10.33,))&)63 ,+.-% )"9.3* 00.3-)/ ,&%-$, )63 ,+.-%)"3)8)!,10.33,))&2!,%"#*$)0 #,)!/98, /0.9."2& 0-%& 4(%-$)!, / ,&%33%)"9%",+% *3*%006 .!2%), 1),2 29."2)!*%00* .,., &)&%1,)/$)" 2!,%"# -$ -$, )63 ,+.-%)"34#5nrn6r1n $ %3")2%, 1-6 8%--)-$ /.,-%1%/."-%"-$%33-!24)* + ,9)! ., 0%5 0-)#.%"%"3%#$-%"-)-$ 8.1-),3-$.-%&/ 2 ."2/,)&)%",.1-% )"3*%-$1$%02, "4 %"%&.0,%353-))!., /)"-%.00."-%1%/.298), 7.&/0 98.%#! 3!0-%"#8,)&-*))" $)!,%",+% *3),8 0%"#" ,+)!3.6)!-6 %"#)63 ,+ 24'rr1n )!,%2 "-%-*%006 5 /-1)"8%2 "-%.0-)-$ 7"-/,)+%2 260.*4 n",+% *3*%006 .!2%)-./ 1),2 28),-$ /!,/)3 )8-,."31,%/-%)"4 $ .!2%)-./ 3*%006 .11 33%60 )"0-)& 8),+ ,%8%1.-%)"/!,/)3 34($ "-$ 3-!2%31)&/0 2."2-$ 2.-.$.+ 6 ".".0: 29-$ .!2%)-./ 3*%006 2 3-,) 24n".22%-%)"9-$ )63 ,+.%)"2.-.*%006 .!2%) -./ 1),2 2."2-,."31,%6 29."2-$ 2.-.*%00")-%"10!2 1$%02, ">3".& 3."2 )!,".& 4 3!0-3*%006 /),2%"&2%33 ,-.-%)"9."2&.6 /, 3 "2-) 2!1 .-%)"<)!,".03."2 &.#.:%" 38),/)33%60 /!60%1.-%)"4)!,".& .3* 00.31$%02, ">3".& 3*%00")-6 !3 2%" .", /),-4rn r )!,/.,-%1%/.-%)"%"-$%33-!2%31)&/0 0+)0!"-.,4)!$.+ -$ ,%#$--)*%-$2,.*8,)&-$ 3-!2.-."-%& *%-$)!-1)"3 =! "1 4$ %3")1 )&/ "3.-%)"-) )!8),/.,-%1%/.-%"#%"-$ 3-!249nn r nnn&n:rnnn1n n8)!$.+ ."=! 3-%)"3.6)!--$ 3-!29n),&8.1!0-3!/ ,+%3),9,4,%3"4 &/0 9*%006 $.//-) ."3* ,-$ &4 !"#$ %&9$44-!2 "-91$))0)8 .1$%"#M .,"%"#9'@E4(4+ "! 9T'9.%" 3+%00 9'DE9 B'@C'E'A@9 3 !$5%&U!804 2!

PAGE 192

A ,%3"4 &/0 9$4491$))0)8 .1$%"#M .,"%"#9))&Er),&.".009"%+ ,3%-)80),%2.9.%" 3+%00 9'D9B'@C'AAA 7"3%)"@9 55 &/0 U1) 4!804 2! 9nn r nnnnnn n rnrnn1nnn88%1 9)7@9"%+ ,3%-)80),%2.9.%" 3+%00 9'D@L/$'A?''/r1n n$.+ .2-$ /,)1 2!, 2 31,%6 2.6)+ 4n+)0!"-.,%0.#, -)/.,-%1% /.%"-$ /,)1 2!, ."2n$.+ 1 %+ 2.1)/)8-$%32 31,%/-%)"4 .,-%1%/."->3%#".-!, ."2.,%"1%/.0n"+ 3-%#.-),>3%#".-!, ."2.

PAGE 193

A' rnF nrn( r&+n"nnnnnr&+n n*."--)-.05-))!.6)!-6.,,% ,3-)."28.1%0%-.-),3)8 88 1-%+ .1$ ,1$%02 %",.1-%)"3%")!,10.33,))&4( 5")*-$.-.1$ ,1$%02%",.1-%)"3., %&/),-."-96!-* .03)5")*-$.88 1-%+ .1$ ,1$%02%",.1-%)"32)")-$.// "+ ,)8" 2! -).+.,% -)8 8.1-),34n*."--)!"2 ,3-."2*$."2*$.-1."6 2)" -)%&/,)+ .1$ ,1$%02% ",.1-%)"34 n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n3-$ ."-$%"#)!*)!020%5 -).22P))!$.+ ."8!,-$ ,1)&& "-3),=! 3-%)"3P r&+n"nnnnrnr&+n n*)!020%5 -).35)!.6)!-.1$ ,1$%02%",.1-%)"32!,%"#*$)0 #,)!/-%& 4 n")-%1 2-$.-)!V 44B." 7.&/0 )8.1$ ,1$%02%",.1-%)"3C4(.3-$%3.-/%1.0 5%"2)8%",.1-%)"8),*$)0 #,)!/-%& P

PAGE 194

A? 4 )* 88 1-%+ *.3-$ %",.1-%)"P '4 ($.-&.2 -$ %",.1-%)" 88 1-%+ P ?4 ( -$ 8.1-),3-$.-1)"3-,.%" 2-$ %",.1-%)"Pn83)9*$.-* -$ P r&+n"nnn! rnrnr&+n n*)!020%5 -).35)!.6)!-.1$ ,1$%02%",.1-%)"32!,%"#8, /0.-%& 4 n")-%1 2-$.-)!V 44B." 7.&/0 )8.1$ ,1$%02%",.1-%)"3C4(.3-$%3.-/%1.0 5%"2)8%",.1-%)"8),8, /0.-%& P 4 )* 88 1-%+ *.3-$ %",.1-%)"P '4 ($.-&.2 -$ %",.1-%)" 88 1-%+ P ?4 ( -$ 8.1-),3-$.-1)"3-,.%" 2-$ %",.1-%)"Pn83)9*$.-* -$ P r&+n"nnnnrnr&+n n*)!020%5 -).35)!.6)!-.1$ ,1$%02%",.1-%)"32!,%"#& .0-%& 4 n")-%1 2-$.-)!V 44B." 7.&/0 )8.1$ ,1$%02%",.1-%)"3C4(.3-$%3.-/%1.0 5%"2)8%",.1-%)"8),& .0-%& P 4 )* 88 1-%+ *.3-$ %",.1-%)"P '4 ($.-&.2 -$ %",.1-%)" 88 1-%+ P ?4 ( -$ 8.1-),3-$.-1)"3-,.%" 2-$ %",.1-%)"Pn83)9*$.-* -$ P r&+n"nnn! rnnr&+n n*."--)-.05-))!.6)!--$ 8.1-),3-$.-/,)&)88 1-%+ .1$ ,1$% 02%",.1-%)"3%" )!,10.33,))&.3* 00.3$)*-))+ ,1)& 3)& 6.,,% ,3-) 88 1-%+ 1$ ,1$%02%",.1-%)"3 )!1)"8,)"-%")!,10.33,))&4 4 )!$.+ BC .,3)8.1$%"# 7/ ,% "1 4.+ )!1$."# 2-$ *. )!%",.1*%-$1$%02, ")+ ,-%& Pn83)9$)*$.+ )!1$."# 2-$ *.)!%",.1-*%-$1$%02, "P($$.+ )!1$."# 2-$ *.)!%",.1-*%-$1$%02, "P 4 ($.-2))!-$%"5., -$ *.3.1$ ,31."/,)&)88 1-%+ .1$ ,1$ %02 %",.1-%)"3%"-$ %,10.33,))&3P '4 ($.-2))! 7/ 1-., -$ 8.1-),3-$.-/, + "-)!8,)&/,)&)-%"# 88 1 -%+ .1$ ,1$%02%",.1-%)"3P

PAGE 195

A@ ?4 00& .6)!-$)*)!*)!02I$.+ )+ ,1)& 3)& 6.,,% ,3-) 88 1-%+ .1 $ ,1$%02 %",.1-%)"3%")!,10.33,))&4 @4 n3-$ ."-$%"#-$.-)!&%#$-")-$.+ -$)!#$-.6)!-6 8), 96!-$.3)11!,, 2-) )!*$%0 /.,-%1%/.-%"#%"-$ 3-!2P D4 00& .6)!-)!,-$)!#$-3."28 0%"#3*$%0 /.,-%1%/.-%"#%"-$ 3-!2 4 E4 n3-$ ."-$%"#)!*)!020%5 -).22P))!$.+ ."8!,-$ ,1)&& "-3),=! 3-%)"3P

PAGE 196

AD r 20 ,9449M20 ,94B'C4$ 0!1-."-, 3/)"2 "-4n";44)03%"M;44!6,%!& B234C9 nr!"nnn B//4@'E'C4$)!3."2.539 .# !60%1.-%)"39n"14 00 "9;4BAAAC4 #nnn!$n%nn 4 r *),5 .1$ ,3)00 # 9)0!&6%."%+ ,3%-4 3$%.6%944BC4,)&)-%"#-$ &)-%)".02 + 0)/& "-)8/, 31$))0 ,34 &# &' 9BC9EA?4 .#".-)94;49Mr %3*),-$9;44BAAC4 nnnnr!(nn nnn 4r *),5$ !%08),2, 334 .,532.0 .229449M$)&.3944BAA'C4%#$-.1$ ,3>, /),2/ 2.#)# %1.0 2 / "2 "1)"6.3.0, .2 ,34 $&)' 9A?BC9?AE4 .," --9(449.&949M;!"#94B@C4 $nn*n +nnnnrnn 4$ r.-%)".0n"3-%-!8),.,0 2!1.-%)" 3 .,1$9!-# ,3"%+ ,3%-4 .," --9(449!32-9;449,% 2&."9449)29;449M%"3*),-$94BEC4 $n n,--.!)n* 4$ r.-%)".0n"3-%-!8),.,02!1.-%)" 3 .,1$!//),26$ *$.,%-.60 ,!3-34 .!&9449M1!,,.1$*.,:94B?C4, 3 ,+%1 .1$ ,3>6 0% 83.6 )!-8.&%0 %"+)0+ & "-n&/0%1.-%)"38),.1$ 2!1.-%)"4 &#&' 9 'BC9@ED4 %,1$9449M.2294(4BAAC4$%02, ">3%",/ ,3)".06 $.+%),3."2-$ .1$ ,1$%02 0.-%)"3$%/4 /rn 9'?B@C9A'?A?D4 0.-1$8),294B'C433&.-%1)63 ,+.-%)".03-!2)8.1$ ,3>."2/! /%03>6 $.+%)!,%" 0.,# ."23&.0010.33 34 01 n 9'BDC9@DA@A@4 0."5 & ,9490."" ,94;49M.:3)"%944BC4$ ,)0 )8.##, 33%)"."23)1% .0 1)&/ "1 %"1$%02, ">3/ ,1 /-%)"3)8-$ 1$%02.1$ ,, 0.-%)"3$%/4 n )n 9'AB'C9A''?4 0!& "8 02;)" 394B?C4$ $)/ )8.1,%-%1.0 -$%13 .1$ ,3."20 ," ,34 & $ 9@?B'C9D'EA4 )#2."9449M%50 "944B'C4 2rn! nn B?-$ 24C4)3-)"9 .,3)"2!1.-%)",)!/9n"14 )!-944BC4+ ,+% *4n"44)!-B24C9 nrn!)n rn*n B//4@C4)3-)"900"M.1)"4

PAGE 197

AE )*069;4BADAC4 nn!345 4r *),5.3%1))539n"14 )*&."9449-)--944BAA?C4"2 ,3-."2%"#2 + 0)/& "-%".1!0-!,.01)"7-$ 1$.00 "# 8),.1$ ,34n".00),944Mr *944B234C9 /rn1 rn!#n B//4 A'DC4r *),5 .1$ ,3)00 # 9)0!&6%."%+ ,3%-4 !"%#94B@C4!,"%"# 7/ ,% "-%.0 2!1.-%)"."21,%-%1.0/ 2.#)#$ ),%"-)/,.7%34 '&& 9BC9D4 ,%##3944B'C4n",+% *%"#9/)* ,I5")*0 2# 9."23)1%.0%" =!.0%-4n";4 4)03%"M ;44!6,%!&B234C9 nr!"nnn B//4?A@@DC4 $)!3."2.539.# !60%1.-%)"39n"14 ,%-:&."944BC4 1 ",%"#2%31)!,3 3%".1$ 2!1.-%)",9-$ !"0 .3$% "#)8 !"/)/!0.,-$%"#34 '& 9E'B'C9D4 ,))58% 02944BC4,."38),&.-%+ 0 .,"%"#.3%2 )0)#1,%-%=! 4n";4 :%,)*B24C9 0nn B//4@?C4.",."1%31)9;)33 .339(%0 )&/."4 ,))58% 02944B@C4 $!0 4 .",."1%31)9;)33 .339(%0 n&/,%"-4 !,1$%".09449 %3" %"6 ,#9449,."-9449M0%88),294BC4$%02, ">33)1%.0 ."21)#"%-%+ 2 + 0)/& "-."21$%02., =!.0%3-%"#8),2%88 "-%. 0.33)1%.-%)"3 0.2-)/)+ ,-9# "2 ,9), -$"%1%-4 /r) 9?B'C9?AD@4 !,1$%".09449 %3" %"6 ,#949%."-.949M)* 394BC4 + 0)/& "-)8 .1.2 &%135%0038,)&/, 31$))0-$,)!#$3 1)"2#,.2 .&%0."210.33,))& /, 2%1-),3 )82 + 0)/& "-.0-,.< 1-),% 34 ')n 9?B@C9?@?'D4 !,1$%".09449)6 ,-39;449r.6),39449M,."-944BAADC4!.0%-)81 ",1$%02 1., ."2%"8."-1)#"%-%+ ."20."#!.# 2 + 0)/& "-4 #/r 9DE9DDD4 .02 ,$ .29;4B'C40.""%"#."2-$%"5%"#%"36!3%" 33 3%3-%"#."2, 2 8%"%"#.1 1 33-)0 .,"%"#%" -$ .,01$%02$))210.33,))&4n"r4 00."2B24C9 #nnn B//4?DDC4r *),5/ ""%+ ,3%-, 334 ." 00.944B@C4 1)"1 /-!.0%:%"#-$ 8% 02B)8 .,01., ."2 2!1.-%)"C n8S* 3,"> 1$%022 + 0)/& "-%3./,)60 &9-$ "*$.-2)* 2)Pn"r4 00."2B24C9 #nnn B//4E'AC4r *),5/ ""%+ ,3%-, 334

PAGE 198

A .,3/ 15 "944BAADC4 #n! 4r *),5)!-0 2# 4 $."20 ,94BAAEC4-!&/%"#8),/,)#, 33%"./)3-&)2 ,"*),024n"4&3 0M4 4 ""%"# ,B234C9 #r! nnn B//4DC4.$*.$9r;.*, "1 ,06.!&33)1%.39!60%3$ ,34 $./&."9449.,3 "9449M.,5 ,944BAEAC4n",.1-%)"3)88%,3-#,.2 .1$ ,3*%-$ 0 .,"%"#2%3),2 21$%02, "4 '0/nn 9B?C9@'4 $)*9449M.3.,%94BAAAC4.35, 0.2%",.1-%)"3.&)"#.1$ ,3."2 7 1 /-%)".09.,%359."2-/%1.00 .," ,3%"%"10!3%+ 10.33,))&34 1)& 9B?C9 D'4 $!,1$%00944B'C4))2" 33)88%-%" .,01$%02$))23 --%"#34 &#& 9'BC9'4 %11$ --%949."%6."9;49M.," --94BAAC4)"-,%6!-%)"38,)&-$ 3-!2)8$%#$,%3 5 /)/!0.-%)"3-)!"2 ,3-."2%"#-$ 2 + 0)/& "-)8 &)-%)", #!0.-%)"4n";4.,6 9M4 4)2# B234C9 $rn B//4@?C4 r *),5.&6,%2# "%+ ,3%-, 334 0%88),29449,."-949M.,044B@C4/, /,)#,.&33-.-!3, /), -4 $ &/n 9@@'4 )0* 0094;49M%"23 94(4B'C4 .1$ ,1$%02%",.1-%)"3."2/, 31$))01$%0 2, ">3 / ,1 /-%)"3)83 08."2/ ,34 &#/r# 9E'B'C9?A@4 )"" 0094(4BAA?C4)+ ,-."2 2!1.-%)"4 r&r 9D?BC4 ))0.$."949."-!::)9;49 "2 :9;491 ,&)--94BC4, 31$))0/ ,%",.1-%)"3." 2 .2%" 33-)0 .," 0.-%)"3$%/36 -* "10.33,))&/ ,/0.."20 .,"%"#6 $.+%),3."2 1)"2!1-4 '&n 9AB'C9?@?D@4 )/0."94;49M,.5.3$94B'C4/ "2%"#-%& *%-$.1$ ,$.,.1,%3-%1 3)8/, 31$))0 ,3 *$)8, =! "-0 0%1%-+ ,3!3%"%-%.%",.1-%)"3*%-$.1$ ,34 &#n 2 99?'@4 )944BC4."#!.# )//),-!"%-% 32!,%"#& .0-%& 3%"/, 31$))010.33,))& 34n"44 %15%"3)"M44.6),3B234C9 6n! ( B//4@C4.0-%&), 9.!04,))5 3 !60%3$%"#)4 !#&.39O4B?C4 /, 3 "-.-%)"3)8-$ 1$%02>33)1%.06 $.+%),."2.--.1$& "--)-$ 5%"2 ,#.,".1$ ,%"-$ %,2,.*%"#4 &#/r# 9E?BC9''4 .$06 ,#949)33949M "1 94BAAAC4 (7 !nnrn 4$%0.2 0/$%.9.0& ,, 339.0),M,."1%3n"14

PAGE 199

AA .+% 394BAA'C4 )nnn!#1n 4 335%009r;.&/-)", 339n"14 !02 ,9449 "$.&9491$&%2-949M%-1$ 009;4BC43),-.33 33& "-)8 .--.1$& "-3 1!,%-2!,%"#-$ /, 31$))0 .,3%"538,)&$)& -)31$))04 /rn 9'DBC9E?4 ":%"9r44BAEC4)3-&)2 ,"1$%02, "4 ) 9.,1$I/,%09''@4 ":%"9r449M%"1)0"944B'C4 $n7rn!$n nnn B"2 24C4$)!3."2.539.# !60%1.-%)"39n"14 ,% 3949MO."94B@C41)"3-,!1-%+%3-/ ,3/ 1-%+ )"-$ ,)0 )8-$ 3)1 %)&),.0 .-&)3/$ %"/,)&)-%"#1$%02, ">32 + 0)/& "-4n"44)3")-B24C9 #nrn! $nrn B"2 24CB//4'?AC4r *),5 .1$ ,3)00 # 334 *.0-9449M *.0-944BC4 nr 4."$.&90-.&%,., 339 2%+%3%)")8)*&."M%--0 8% 02!60%3$ ,39n"14 %15%"3)"944B.C4))5, .2%"#%"/, 31$))010.33,))&3n3, 1)&& "2 2/,. 1-%1 1)&&)"Pn"44%15%"3)"M44.6),3B234C9 6 n!( B//4E@'C4.0-%&), 9.!04 ,))5 3!60%3$%"#)4 %15%"3)"944B6C4.,# #,)!/."28, /0.-%& 3)"+ ,3.-%)".03 --% "#33!//),-%"# 0."#!.# ."20%,.12 + 0)/& "-4n"44%15%"3)"M44.6),3B234C9 6 n!( B//4'@@C4 .0-%&), 9.!04,))5 3!60%3$%"#)4 2*.,29449M( 3-#.9444BAA?C4 rnnn* B"2 24C4r *),5 $ .0& ,, 334 %3" ,94(4BAAAC42!1.-%)".0, 8),&."2-$ 1)0)#)831$))0%"#4n"44,"3%"M 44 $.,), "3%"B234C9 #nnn B"2 24CB//4?'?@C4 )3-)"900"M.1)"4 3/%")3.9449M.88 9;44B'C4,6."/,%&.,.1$ ,/ ,1 /-% )"3)81$%02, "*%-$ 1$.00 "#%"#6 $.+%),34 '#1r 9ABC9'@@D4 33944B?C4,)&)-%"#3-!2 "-1 ", 20 .,"%"#%" 7/ ,% "-%.0 2!1.%)"4 && 9EBC9?D4 +."3944BAAC4"1)!,.# & "-%"-$ 10.33,))&4n"44.:2.94436!,94;4 .0: ,9(44$%02 ,39M44(.0,3B234C9 nr! n B?-$ 24C4)3-)"900"."2.1)"4

PAGE 200

."-!::)9;4(49!0)-35$ ., ,949!31)9449M1(." 94B@C4"%"+ 3-%#.-%)")8 /, 31$))010.33,))&6 $.+%),.0.23+)0!"-.,/, 5%"2 ,#.,"/,)#,.&4 &08/ & 98,)& $--/II***4802) 4),#I .,00 .,"%"#I+/5/., "-4.3/ 4 )!1.!0-94BAE@IAA@C4 /n1n!$n 4r *),5%"-.# ))534 )!1.!0-94BAC4 9*!)rn1n5:.,;5:.. B4 ),2)"924C4r *),5."-$ )"))534 ,."1%394BAAAC4)2 ,"%3-, 2!1-%)"%3&),/)3-3-,!1-!,.0%3-, 0.-%+%3& ."* &)+ )"P" +.0!.-%)")8-$ .,#!& "-3%", 0.-%)"-)8 &%"%32!1.-%)".0, 3 .,1$4 < & 9B?C9''A'4 ,."1%3944BDC4 /n*rn= -,% + 2;!" A9D8,)& $--/II***4"6 ,4),#I2%# 3-I&.,@I*?@4$-&0 4 ,."5 "3%"94BAAEC4, .5%"#2)*"-$ 2%1$)-)&6 -* "0 .,"%"#."2.1$%" # &.-$ &.-%134n";4(4,.3 ,94.1 2)941%"")"9M(44-)5 3B234C9 >!8 B//4@AEC4r *),5 ,."#!60%3$%"#9n"14 # ."9449M % ,944BC4n";4;40.,944.%"9M44)33.--)B23 4C9 $ 8!&n%n B//4E'C4r *),5 ,."# !60%3$%"#9n"14

PAGE 201

, %, 94BAEIC4 nn B'-$ 24C4r *),5$ )"-%"!!& n",".-%)".0!60%3$%"#,)!/n"14 %, 94BAA'C4 4r *),5$ )"-%"!!&!60%3$%"#)&/."4 %, 94BAAEC4 4r *),5$ )"-%"!!&n",".-%)".0!60%3$%"# ,)!/n"14 .0 94BC4 -$%"5%"#3)1%.0 .2%"#%"-)-$ 0."#!.# /,.1-%1 3 )8.1$ ,34 $n$!$ 9BC9@'?4 .94BC4 #nnr!$n 4r *),5 .1$ ,3)00 # 334 9;44B@IAAAC4 nnnn!$ B"2 24C4r ),5)!-0 2# 4 3-9449)00."2)+% 00)949( 03$9;449%1$ ,.--9449M%0094BDC4. "#!.# 2 + 0)/& "-3!61)"7-3%" .2-.,-10.33,))&3%3-%"1-%+ /.-, "3)8.1$ ,-.05 2!,%"#8, /0.9& .0-%& 9."26))5, .2%"#4 &&/r 9EBC9 A''@4 %00%.&9(44B@C4 *n!&nnn* nnn4 r *.+ ".0 "%+ ,3%-$%02-!2 ",4 %00%.&9(449MO%#0 ,944BC41,%-%1.0& -..".03%3)8.00 +.0!.-%)"3)83-.8!"2 2 /, 31$))08,)&AEE-)AAn&/0%1.-%)"38),/)0%193 ,+%1 2 0%+ ,."2/,)#,.& +.0!.-%)"4 &#n2 9@B?C9???E'4 %,)0.& --)949M( %-:&."94BC4 3/)"3%+ 33)81$%021., /,)+%2 ,3% "%",.1-%)"3 *%-$-)220 ,3."2/, 31$))0 ,34 0))rn)n 9''9 D4 %,)0.& --)949( %-:&."949+."% 3$)!-949M!8894BC4%, 1-%+ 33%". 1$ ,3> 0."#!.# %"/!--)-)220 ,3."2/, 31$))0 ,3%"2.1., 4 ')0 n 9?'9?4 %,)!79449M%&)"94n4BAC41$))0%"#9/)/!0.,1!0-!, 9."2./ 2.#)#)8/)33 %6%0%-4 '& 9EBC9AD4 %,)!7944BAC4 $nnn!$ 4 ,."69 ,#%"M.,+ !60%3$ ,39n"14 %,)!7944BA.C4)3-&)2 ,"%3&."2-$ 2%31)!,3 )8 2!1.-%)".01,%-%1%3&4 & 9EB'C9//4@'4

PAGE 202

%,)!7944BAA'C4%3-!,6%"#-$ / .1 (,%-%"#%"-$ 1!0-!,.03-!2% 310.33, ))&4 # 0 9BC9'D4 %,)!7944BAAAC4 .1$ ,9/!60%10%8 9."21!,,%1!0!&, 8),&4n"44,"3% "M44 $.,), "3%"B234C9 #nnn B"2 24CB//4'D??C4 )3-)"900"M.1)"4 %,)!7944BC4 $nn!$nn 4 ( 3-/),-9 ,#%"M.,+ 4 %,)!7944B@C4 (nnn!#*nn B"2 24C4 r *),5)!-0 2# 9.0),M,."1%3,)!/4 %-0%"94BC4)!"2%"#.1$ ,2 1%3%)"&.5%"#$ -$, .-)8%""3%8%1.-%)"4 & 9@BC9E@E4 ),&0 ;,49(449. ,949$%00%/3949M.*3)"94B@C4$ 88 1-3)8!"%+ ,3.0/ 5 )"1)#"%-%+ 2 + 0)/& "-4 /rn 9?BDC9E?4 ),&0 ;,49(449M$%00%/394B@C4$ 88 1-3)8!"%+ ,3.0/, 5%"50.$)&. 3 .,1$ $%#$0%#$-3."2/)0%1%&/0%1.-%)"34 $)n' 9''BC9D@4 ,% 3$.6 ,949M."94BDC4 )"21 ,-.%"-% 3)3-&)2 ,"/ ,3/ 1-%+ 39, 3 .,1$9."2 -$ 2!1.-%)")8)!"#1$%02, "4n"4/)2 5M4r4.3.1$)B234C9 n B"2 24CB//4@''@@'C4.$*.$9r; .*, "1 ,06.!&33)1%.39!60%3$ ,34 .&, 9449M%."-.944BC4.,0.1$ ,1$%02, 0.-%)"3$%/3."2-$ -, .< 1-), 1$%02, ">331$))0)!-1)& 3-$,)!#$ %#$-$#,.2 4 #/r 9EBC9D@D'4 ."5%"394BAAAC4%0 "1%"#-$ 0.&634n";400 "B24C9 #nnn!$n %nn B//4DEC4r *),5 .1$ ,3)00 # 9 )0!&6%."%+ ,3%-4 .-1$9;44BAA@C4 2rnnn 4( 3-/),-9, "*))2 !60%3$%"#,)!/9n"14 .-1$9;44BC4 /7rnnn 406."9r-."%+ ,3%-)8r *),5, 334 3949M.-!3)+94B@C4 3%#"%"#8),2%.0)#! %"/0.1 )8.1$ ,-.05."23!2 "3%0 "1 4 #1n 9B'C9''A'@E4 %"1$ 944BC4 8nn! 4r *),5 ,."#!60%3$%"#9n"14 %"1$ 944B?C4 (!/nnn 4r *),5 ,."#!60%3$%"#9n"14

PAGE 203

' )03%"9;449M!6,%!&9;44B?C4$ .1-%+ %",+% *4n"4%0+ ,&."B24C9 2r n!$ 4"2 24B//4?DC4$)!3."2.539.# !60%1.-%)"34 )* 394BC4)1%.0 &)-%)".010.33,))&10%&.%"1$%021., 91$%02.1 $ ,, 0.-%)"3$%/3 ."21$%02, ">33 1)"2#,.2 / ,, 0.-%)"34 )/r 9ABC9A?4 )* 3949!,1$%".0949%."-.949,."-9490%88),2949M.,6.,%"94BC4 .2-) 0 .,"P$%02, ">3/, .1.2 &%1.1$% + & "-%"/, %"2 ,#.,"/ ,)#,.&34 & #n2 9'9E@4 )* 3949M.&%0-)"944BAA.C4$%02, ">3, 0.-%)"3$%/3*%-$1., #%+ ,3)$ ,3."2 1$%021., .1$ ,34 #/r 9D'9@ADD4 )* 3949M.&%0-)"944BAA6C4$%02, ">3, 0.-%)"3$%/3*%-$1$%021., .1$ 3 -.6%0%-."21)"1),2."1 *%-$/., "-.0.--.1$& "-34 #/r 9D'9DEE4 )* 3949.&%0-)"9449M.-$ 3)"944BAA?C4$%02, ">3, 0.-%)"3$%/3*%-$/ 3 %88 "-%.0.33)1%.-%)"3*%-$.3/ 1-3)8-$ .1$ ,1$%02, 0.-% )"3$%/4 # /r 9D@9@'D'4 )* 3949M%-1$% 94BC4 n!#nn nn 4r *),5 .1$ ,3)00 # 9)0!&6%."%+ ,3%-4 !"94B'C4($.-2) 3-$ ")1$%020 8-6 $%"2.1-& ."-) .,01$%02$))2.1$ 2!1.-),3P1.008),.1)00 1-%+ /,)8 33%)".0, <)%"2 ,4 &#& 9'BC9A@4 ;.1)63944B?C410.33,))&%"+ 3-%#.-%)")8-$ #,)*-$)8& -.1)#"%-%+ .*., 33%" 5%"2 ,#.,"1$%02, "-$,)!#$-$ *,%-%"#/,)1 334 &#&' 9 'BC9E'4 ;.1)63)"94B'C4-.8%"."1 2/, 53$)*3/)3%-%+ 88 1-39" *, 3 .,1$3.34 & ?* 9'BC9?4 ;)$"3)"94;49;. # ,949."2)0/$9449.!3 9449(.,29;49Mrn.,0$%02., 3 .,1$r -*),5B'C4-!2%"#-$ 88 1-3)8 .,01$%021., 7 / ,% "1 3)"-$ 2 + 0)/& "-)81$%02, ")81)0),%"-$ "%2-.3)*.,2.&), %"10!3%+ 3 .,1$ .# "2.4 #/r 9E?B@C9E??4 .#."9;4BAA?C4 $ B-$.""%+ ,3., 24C4r *),5.3%1))539 %+%3%)")8.,/ ,)00%"3!60%3$ ,39n"14 ./0."9;4BAAC4-.8!"2 2/, 5%"2 ,#.,"/,)#,.&34 ? "* 9BAC9 8,)& $--/II***48%"."1 /,)< 1-4),#I/!60%1.-%)"3I/, 31$))4$-& 4 .-:9449M10 00."944BAAEC4 8n+nn!$+n 4(.3$%"#-)"944$ r.-%)".033)1%.-%)"8),-$ 2!1.-%)")8)!"#$%02, "4

PAGE 204

? "."944B?C4,)&3)1%)1!0-!,.01.#),% 3-)3)1%.000)1.2, 0.-% )"33%"#1,%-%1.0 -$ ),%"3)1%.0*),5/,.1-%1 4 8n)!$'#) )rn 9@B?C9@'A@?4 %"1$ 0) 9;449M1., "94B@C4 -$%"5%"#1,%-%1.0-$ ),."2=!.0%-.-%+ 3 .,1$4n"r4 ": "M4%"1)0"B234C9 $)*2rn B',2 24CB//4 '''?C4$)!3."2.539.# !60%1.-%)"34 %"#9;44B?C4 ,+%1 0 .,"%"#.3.3%8),1,%-%1.0/ 2.#)#1. 3 )81)00.6),.-%)"9 1.,%"#9."22 8.&%0%.,%:.-%)".1,)336),2 ,34 '&& 9DB'C9 'E4 )"-)394BAAAC4, 31$))0.1$ ,3>-.059,)0 39."2.1-%+%-3 --%"#32!,%"#8, /0.4 & #n2 9?B'C9'D''4 )"-)3949)* 3949$%""949M.0%"3594BAA@C4 21r 4r *),5 .1$ ,3)00 # 334 .2294(49M,)8%0 -944BAADC4$ 1$%026 $.+%),31.0 .1$ ,, /),-& .3!, )8 )!"#1$%02, ">3.##, 33%+ 9*%-$2,.*"9."2/,)3)1%.06 $.+%),34 /r n 9'BDC9?4 ..,)9449%."-.9449M-!$0&."94B?C4$ 10.33,))&.33 33& "-31),%"# 33&%"2%"#38,)&-$ /, 5%"2 ,#.," .,4 $&)' 9?B@C9 ?A?D4 .-$ ,94BA?C4,%-%1.0-$ ),91!,,%1!0.,-,."38),&.-%)"."28 &%"%3-&.% "3-, .&%"#4 & 9DDBC9?AD4 )".,2)9O4B'C4 nnn 4( 3-/),-9,. # ,!60%3$ ,34 .+%--9449M)* ,944BAAC4&)-%)".03)1%.0%:.-%)"%"-$ /)3-&)2 ," ,. $%02, %"2.1., 4 )n2 9@BC9'@?'4 .+%--944BAA?C4 ; 406."9r-."%+ ,3%-)8r *),5, 334 %2:944B'C4 &nnnn 4)6)5 "9r;;)$"(%0 M)"39n"14 %"1)0"9449M!6.944BA@C4 "n7 4$)!3."2.539.# !60%1.-%)"39n"14 )6&."944BDC4n&/,)+%3.-%)"".".0-%1-))08), 7.&%"%"#.1$ ,1$% 02%",.1-%)"3 %"-$ .,01$%02$))210.33,))&4 &#n2 99?@@?E4 .1 )29;4BAA@C4 +*+!nn1; 4)!02 ,9( 3-+% *, 334

PAGE 205

@ .33 944B?C4 .1$ ,1$%021)"+ ,3.-%)"%"-$ /, 31$))010.33,))&4 &# &' 9'B?C9E'4 1)00!&9;449.%,94BAA?C4 3 .,1$%"/., "-1$%02%",.1-%)"!%2."1 ) 2 + 0)/& "-.00.//,)/,%./,.1-%1 8),)!"#1$%02, "*%-$2%3. 6%0%-% 34n".00),94 4Mr *944B234C9 /rn1rn!#n B//4?DC4r *),5 .1$ ,3)00 # 9)0!&6%. "%+ ,3%-4 1n"-, 94BAAEC4 >*nn!& n 406."9r-."%+ ,3%-)8r *),5, 334 1%"" 9;449M .#."394BA'C42./-%+ 10.33,))&6 $.+%),)80 .,"%"#2%3. 60 2 3-!2 "-34 '0/nn 9DBDC9'D'DE4 1., "94BAAC4 0nn!n B',2 24C4r *),522%3)"( 30 )"#&."9n"14 1., "949M.,.$&."2/!,94BC4n";4;40.,944.%"9M44)33.--)B23 4C9 $8!&n%n B//4'E@DC4r *),5 ,."# !60%3$%"#9n"14 ,,%.&944BAAC4 2rnnnn!rn nnn 4.",."1%31)9;)33 .33 !60%3$ ,34 ,,%.&944BC4n"-,)2!1-%)"-)=!.0%-.-%+ 3 .,1$4n"44 ,,%.&B24C 9 2r n!&nnnnnn B//4'EC4.",."1%31)9 ;)33 .339(%0 )&/."4 r.-%)".0 ",8),2!1.-%)"-.-%3-%13B'C4 *@4)4nn!,---; ,--5nnnn 444 /.,-& "-)82!1.-%)"9n"3-%-!)82!1.-%)" 1% "1 34 r.-%)".0n"3-%-!)8$%02 .0-$."2!&." + 0)/& "-9.,01$%021., 3 .,1$" -*),5 BC4$ 0.-%)")80)6.0%,3-,.2 10.33,))&"+%,)"& "--)-,!1-!, .0 0.33,))& .-!, 3."2 .1$ ,."2-!2 "$.+%),34 &)' 9 B@C9'DE'E4 r.-%)".0n"3-%-!8),.,02!1.-%)" 3 .,1$BrnCBDC4/ 2 ($.-5%"2)8/, 5 $)!3 $.-$0),%2.6!%0-P n&&n 4 -,% + 2 !#!3-'9D8,)& ***4"% ,4),# 4 r.-%)".0n"3-%-!8),.,02!1.-%)" 3 .,1$BrnCBC4-.8! "2 2/, 31$))0 ",)00& "-/.33 3)" &%00%)"&.,59 -&)3-'."2? .,)023., 2 "% 2.11 33-) /!60%1/, 31$))0/,)#,.&34 n&&n 4 -,% + 2 .,1$A98,)& ***4"% ,4),# 4

PAGE 206

D r.-%)".0, 5%"2 ,#.," ",B?C4 "#** 4$./ 0%009r$ "%+ ,3%-)8r),-$.,)0%".9r.-%)".0, 5%"2 ,#.," ",9$%0 2 + 0)/& "n"3-%-!4 r !&."944B'C4,)&,$ -),%1-), .0%-$ 1.3 8),$%#$=!.0%-1)&/ "3.-), /, 5%"2 ,#.,"/,)#,.&34 / 9DA4 r !&."9449M)35)394B@C4$ 3-.)83-./, 5%"2 ,#.,"3-."2.,234 & #n2 99@?@4 rn.,0$%02., 3 .,1$r -*),5BC4$ 0.-%)")81$%021. -)1)#"%-%+ ."2 0."#!.# 2 + 0)/& "-4 #/r 9EB?C9ADA4 rn.,0$%02., 3 .,1$r -*),5BC4$%021., 3-,!1-!, W/,)1 33W)!-1)& 2%, 1-."2%"2%, 188 1-3)81$%021., =!.0%-)")!"#1$%02, ">32 + 0 )/& "-4 n) 9'B'C9AAD4 rn.,0$%02., 3 .,1$r -*),5B'C4) 3=!.0%-)81$%021 ., .88 1-1$%02 )!-1)& 3.-.# ?IP /rn 9'AB'C9?@DA4 rn.,0$%02., 3 .,1$r -*),5M!"1."94;4B'C4)2 0%"#-$ %&/. 1-3)8 1$%021., =!.0%-)"1$%02, ">3/, 31$))01)#"%-%+ 2 + 0)/& "-4 #/r 9 E?B@C9?@??E?4 rn.,0$%02., 3 .,1$r -*),5B?.C4, 1$%022 + 0)/& "-.0 )!-1)& 3, 0.2 -)6 8), ."2.8,31$))01., .,,."# & "-3P 3!0-38,)&-$ rn 3-!2)8 .,0 1$%021., 4 #/r 9E@BC9A@4 rn.,0$%02., 3 .,1$r -*),5B?6C4/ )81$%021., ."21 $%02, ">3 2 + 0)/& "-.-@?&)"-$34 &#n2 9A9''4 rn.,0$%02., 3 .,1$r -*),5B@C4!,.-%)"."22 + 0)/& "-. 0-%&%"#)8 /)+ ,-."21$%02, ">31)#"%-%+ ."23)1%.02 + 0)/& "-8,)&6%,-$-$,)!#$-$% ,2#,.2 4 #/r 9EDB?C9EA@4 r%.39;4BA?C4$ 2 8%"%-%)"."2&.%""."1 )83 08%"/,%&.,.1$%"#4 (n' )& 9@B'C9DE4 .,59449M(.,394BAAC4 1!,%-)8.--.1$& "-."2/, 31$))08,% "23$%/3 4 # /r 9D9ED4 .,5 944B?C4$ 3)1% -8),, 3 .,1$%"1$%022 + 0)/& "-.-E,)#, 33 ."2/,)&%3 4 #/r 9E@BC9?4 .--)"944BC4 2rn1rn B',2 24C4$)!3."2.539 .# !60%1.-%)"34

PAGE 207

E %3" %"6 ,#949!,1$%".094490%88),29449!05%"9449)* 3949.#."94 49 M.: <%."9r4BC4$ 0.-%)")8/, 31$))01$%021., =!.0%--)1$%02, ">3 1)#"%-%+ ."23)1%.02 + 0)/& "-.0-,.< 1-),% 3-$,)!#$3 1)"2#,.2 4 # /r 9EB@C9@'?@@'4 %."-.9449M-!$0&."94(4B?C4 .1$ ,1$%02, 0.-%)"3$%/3."21$%02, ">33!11 33%" -$ 8%,3.,3)831$))04 )nr 9''B'C9????@4 !%",)944B?C4 ;n+n!/r 4r *),5 ,."#!60%3$%"#n"14 .#."9449.3 94(49M,!6.1$ ,9;4(4BC4 (r! 7nn B"2 24C4$)!3."2.539),*%", 339n"14 ")023949M &/0 9;44BDC41)")&%1, -!,"3)8%"+ 3-& "-3%"/, 31$))0 2!1. -%)"4 n"4O%#0 ,9(44%00%.&9M44;)" 3B234C9 rnrnn B//4'EDC4r *),5.&6,%2# "%+ ,3%-, 334 %3 6),)!#$944BAC4!/%039, 1%/ 5")*0 2# 91!,,%1!0!&."2-$ 1!0-!,.0/ ,)2!1-%)")8 10.339 -$"%1%-."2/.-,%.,1$1,%-%=! )8)" .1$ ,>3/,.1%1 34 (n' )& 9ABC9'A@?4 )3 00%944B@C4 /n1+n!$ 4r *),5 ,."#!60%3$%"#n"14 ."94B@C4, 2)&-)1$))3 7.&%"%"#1$%02, ">3 7/ ,% "1 3%"1$)%1 %& 4n"r4 00."2B24C9 #nnn B//4AA?C4r *),5 / ""%+ ,3%-, 334 .0!<.949.,09449M0%88),2944BC4 &)#,./$%11$.,.1,%3-%13)8 .,0 1$%02$))2.1$ ,3."23-,!1-!,.0 0 & "-3)8 .,01., ."2 2!1.-%)"%"-$ "% 2 -.34 &#n1 9?BC4 -,% + 2/,%"#98,)& $--/II 1,/4!%!14 2!I+?"I3.0!<.4$-&0 4 ."20%"9;44BC4$ /)0%-%13)81)"3!& 2!1.-%)"&.,%.03!3 2%".2!0-0%,.1 10.33,))&34n"44 ,,%.&B24C9 2rn!&n nnnnn B//4'@'EC4.",."1%31)9;)33 .339(%0 )&/."4 .--0 ,9;44BAC433 33& "-)86 $.+%),6)63 ,+.-%)".0& -$)234n";44 .--0 ,B24C9 nnnn B//4?E@'C4."% #)9; ,)& 4.--0 ,9!60%3$ ,4 %2&."9n44BAAC4 rn7rn!nn nnn 4r *),5 .1$ ,3)00 # 334

PAGE 208

%8 ,949M1$%00 ,94BAA@C4$ ,)0 )8/., "-%"#3 "3%-%+%-9%"8."-&/ ,.& "-9."2 2.2%1%",.1-%)"%".--.1$& "--$ ),."2.33 33& "-4n"4(.,3944 .!#$"94 )3.2.9M4)"2)n5 &!,.B234C9 #rrnrn n;nr*n!"n n B//4?DE?C4$%1.#)9n)")#,./$3)8-$ )1% -8), 3 .,1$%"$%02 + 0)/& "-4 $),9n4BAAC4 &!#n 4$%1.#)9n$ "%+ ,3%-)8$%1.#), 334 $!0&."944BAAAC4")*0 2# ."2.1$%"#)!"2.-%)"3)8-$ *, 8),&4n"44 ,"3%"M44 $.,), "3%"B234C9 #nnn B"2 24C B//4'C4)3-)"900"M.1)"4 &%-$94B?C4&/)* ,%"#.1$ ,3&/)* ,%"#1$%02, "P)*1.", 3 ,1$ ,3%"%-%.."2 3 .,1$ &/)* ,& "-P 'n 9EB?C9?'??4 ,)!8 944BAADC4 &r!$ n 4r *),5.&6,%2# "%+ ,3%-, 334 -.,5 9490 %"949M(.5 0 94B?C4"$."1%"#)!"#1$%02, ">3&.-$ &.%1.0 5")*0 2# -$,)!#$./, 5%"2 ,#.,"&.-$ &.-%13%",+ "-%)"4 &# n2 9A9AA4 -.)80),%2.# "18),(),58),1 n"")+.-%)"BC4)0!"-.,/, 5%"2 ,#.,"/ ,)#,.&4 )8?* r 4 -,% + 28,)& $--/II***480),%2.<)634),#I .,00 .,"%"#II34$-&0 M $--/II***480),%2.<)634),#I .,00 .,"%"#II($, %&/),-."-4$&0 4 -%/ 594B?C4 .1$%"#/,.1-%1 3%"5%"2 ,#.,"."28%,3-#,.2 %88 "-3-,)5 38), 2%88 "-8)0534 &#n2 9A9@?@D4 -)5 39(44BAAEC4,)#, 33%+ .1$ 2!1.-%)")"31%)!3" 339%2 "-%-9."25")*0 2 # 4n" ;4(4,.3 ,94.1 2)941%"")"9M(44-)5 3B234C9 >! 8 B//4EC4r *),5 ,."#!60%3$%"#9n"14 -,.!33949M),6%"9;4BAAC4 (nn7rn!$7nn r B"2 24C4$)!3."2.539.# !60%1.-%)"39n"14 -!$0&."94(49M%."-.944BC4 .1$ ,3>".,,.-%+ 3.6)!--$ %,, 0.-%)"3$% /3*%-$ 1$%02, "33)1%.-%)"3*%-$6 $.+%),%"10.33,))&34 )nr 9'BC9 ?D'4 *.""9;49M,.--9;4B'C4 &n!>*nn 4 r *),5)"-%"!!&4 3$ ,949M2*.,2394BAA?C4 nn!/rn n 4r *),5)!-0 2# 4

PAGE 209

A %00.+ ,2 944B?C4 + 0)/%"#1!,,%1!0!&."21,%-%1.0/ 2.#)#4n"; 44%"1$ 0) M4 ( %0B234C9 #*!nn B//4''@C4( 3-/),-9, "*))2, 334 .".5 094;449M%53 "(.0,.+ "9;44B?C43 1!,%-31), 3($.-2)-$ /, 3 "-P3-!2%"1)"3-,!1-+.0%2.-%)"4 >' 9@B'C9E@A'4 .".&949M."n<: "2)),"944BC4 .3!,%"#.--.1$& "-3 1!,%-)"1!,, "-."2 /, 2%1-%+ +.0%2%-)8-$ /., "-.0.--.1$& "-3 -4 '32 + 0)/& "-%, 1-."2&)2 ,.2 88 1-34 #/r 9E@BC9AD '4 (.05 ,949M %#$."94BADC4$ $%22 "1!,,%1!0!&)80."#!.# 4n"4 %#$."B24C9 n B"2 24CB//4?DC4),-3&)!-$.33 002!1.-%)"-24 ( 6 ,944BC4!0 39,%#$-."2*,)"#9."21$%02, "4 &#&' 9 'BC9E4 ( 63,-,.--)"94BAAAC4 +nn 4 )"2)".!0$./&."!60%3$%"#-24 ( 3-*))2949"%#$-9449M 22 "94BAAEC433 33%"#.1$ ,3>6 0% 83.6)!-0 %,.1 .1=!%3%-%)"$ 2 + 0)/& "-)8-$ .1$ ,3>6 0% 83.6)!-0%,.1=! 3 -%)"".%, BC4 'n 9B'C9?'@4 ($%9;4;49M%&3 9;44BC4r.,,.-%+ 38,)&.,!,.093)!-$ ,"9*$%*)&."$ 2!1.-%)"."2*),5 -$%1)8.& &6 ,)8-$ 10.33)8A'4n"44)!-B24C9 nrn!)nrn *n B//4 @?@C4)3-)"900"M.1)"4 (%05%"394B@C4.08 &/-),$.088!00P0),%2.>3+)0!"-.,/, 5%"2 ,#.,"3-."2.,23 ,, 3-%"#%"3%#$-3%" 2!1.-%)"4 $n(88 n 9BC9@4 (%00%.&3)294B?C4&/)* ,& "--,."38),&.-%+ /,)1 334n";4 4%"1$ 0) M4 ( %0B234C9 #*!nn B//4EC4( 3-/),-9, "*))2, 334 (),-$.&944BAA@C4n"8),&.0& .3!, 363 ,+.-%)"4n"44(),-$.&B24C9 >n r B//4A'C4"#0 *))20%8839r; "-%1 .009n"14 (0% 949M$)&/3)"9;4B'C4$ )"#,&1)"-,%6!-%)")8 .,01$%02$))2 2!1.-%)") 1$%02, "R3/ ,8),&."1 +%2 "1 8,)&r *O .0."24 '& 6n& 9BC9DAE4

PAGE 210

00."29r49M%02 ,,94B@C4#.%"3--$ -%2 r **.3%" .,01$%0 2$))2 2!1.-%)"4n" r4 00."2B24C9 #nnn B//4'C4r *),5 / ""%+ ,3%-, 334 )!"#9n44BC4%+ 8.1 3)8)//, 33%)"4n"42.&39(4;40!& "8 0294.3-." 2. 94 (4.15&."944 ,39MF4O!"%#.B234C9 nrnn%n B//4'@?AC4r *),5)!-0 2# 4 O%#0 ,949%00%.&9(449M;)" 3944BDC4 rnrnn 4 r *),5.&6,%2# "%+ ,3%-, 334 O%#0 ,949%00%.&9(449;)" 39449M.0.5)8894BDC4$ 28),!"%+ ,3.0 /, 5%"2 ,#.,"8),1$%02, "%"/)+ ,-4n"4O%#0 ,9(44%00%.&9M44;)" 3 B234C9 rnrnn B//4DAC4r *),5.&6,%2# "%+ ,3%, 334 O%&%0 394BC4", .33 33%"#-$ 0 +."1 )8-$ 1$%022 + 0)/& "-5")*0 2# 6.3 -) 2!1.-%)"4 /r 9?'9'@?@4 O!"%#.9F4BC4(),5%"#8),3)1%.0
PAGE 211

nn n*.36),"."2,.%3 2%" )!09)!-$), .4n.&-$ 02 3-)88)!,1$%02, "9."2& /., "-3$.+ 2 8%"%0/!-$%#$ 7/ 1-.-%)"3)"& 4n#,.2!.28,)&.1, 2 .,-()& ">3 %#$1$))0."2#)-.6.1$ 0),>2 #, %" .,-$31% "1 2!1.-%)"8,)& )!0r .-%)".0 "%+ ,3%-%" )!09)!-$), .4n$.+ .,3)8 7/ ,% "1 .1$%"#31% "1 -)&%220 ."2 $%#$31$))03-!2 "-3%")!-$), .4n*.3&)-%+.2-)6 1)& ..1$ ,-$,)!#$& /.,-%1%/.-%)"%"+.,%)!33)1%.0, 8),&.1-%)"3%"&".-%+ 1)!"-,93!1$.32 &."238),-$ 0 .3 )8/)0%-%1.0)88 "2 ,3."2-$ /,)1-%)")80)*%"1)& 8.&%0% 3 >,%#$-343)1%.0 7/ ,% "1 30 2-)&%", 3-%" .,01$%02$))2 2!1.-%)"/,)#,.&36 8%-%"#1$%02, "8,)& 0)*%"1)& 8.&%0% 3."2-)/!,3! .&.3,>32 #, %" .,01$%02$))2 2!1 .-%)"4n#)-. &.3,>32 #, %" .,01$%02$))2 2!1.-%)"8,)&n"2%."."%+ ,3%-.-0 ))&%"#-)"43. 1%/% "-)8-$ 0!&"% 00)*3$%/.--$ "%+ ,3%-)80),%2.9n$.+ /. ,-%1%/.2%"3 + ,.0 2!1.-%)".01)"8 "1 3."2-,% 2-)/!60%3$.<)!,".0.,-%10 4n+)0!", 2.-%,3-, 36,%." 31$))0%".%" 3+%00 90),%2.8),' .,39 7"2%"#& 7/ ,% "1 *),5%"#*%-$1!0-!,.00 2%+ ,3 1$%02, "."2-$ %,8.&%0% 34