
Offi-Guid-TOEFL
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83)*0 M&8 6IEHMRK
8LIWI /MRIXSWGSTI EVGEHIW [IVI QSHIPIH SR TLSRSKVETL TEVPSVW [LMGL LEH TVSZIR WYGGIWWJYP JSV )HMWSR WIZIVEP ]IEVW IEVPMIV -R XLI TLSRSKVETL TEVPSVW GYWXSQIVW PMWXIRIH XS VIGSVHMRKW XLVSYKL MRHMZMHYEP IEV XYFIW QSZMRK JVSQ SRI QEGLMRI XS XLI RI\X XS LIEV HMJJIVIRX VIGSVHIH WTIIGLIW SV TMIGIW SJ QYWMG 8LI /MRIXSWGSTI TEVPSVW JYRGXMSRIH MR E WMQMPEV [E] )HMWSR [EW QSVI MRXIVIWXIH MR XLI WEPI SJ /MRIXSWGSTIWJSV VSYKLP] ETMIGI XS XLIWI TEVPSVW XLER MR XLI JMPQW XLEX [SYPH FI VYR MR XLIQ [LMGL GSWX ETTVS\MQEXIP] XS IEGL ,I VIJYWIH XS HIZIPST TVSNIGXMSR XIGLRSPSK] VIEWSRMRK XLEX MJ LI QEHI ERH WSPH TVSNIGXSVW XLIR I\LMFMXSVW [SYPH TYVGLEWI SRP] SRI QEGLMRIhE TVSNIGXSVhJVSQ LMQ MRWXIEH SJ WIZIVEP
8LI EYXLSV HMWGYWWIW TLSRSKVETL TEVPSVW MR TEVEKVETL MR SVHIV XS
I\TPEMR )HMWSRtW JMRERGMEP WYGGIWW HIWGVMFI XLI QSHIP YWIH XS HIWMKR /MRIXSWGSTI TEVPSVW GSRXVEWX XLIMV TSTYPEVMX] XS XLEX SJ /MRIXSWGSTI TEVPSVW MPPYWXVEXI LS[ QYGL QSVI XIGLRS PSKMGEPP] EHZERGIH /MRIXSWGSTI TEVPSVW [IVI
;LMGL SJ XLI WIRXIRGIW FIPS[ FIWX I\TVIWWIW XLI IWWIRXMEP MRJSVQEXMSR MR XLI LMKLPMKLXIH WIRXIRGI JVSQ XLI TEWWEKI# ERW[IV GLSMGIW GLERKI XLI QIERMRK MR MQTSVXERX [E]W SV PIEZI SYX IWWIRXMEP MRJSVQE XMSR
)HMWSR [EW QSVI MRXIVIWXIH MR HIZIP STMRK E ZEVMIX] SJ QEGLMRIW XLER MR HIZIPSTMRK E XIGLRSPSK] FEWIH SR SRP] SRI )HMWSR VIJYWIH XS [SVO SR TVSNIGXMSR XIGLRSPSK] FIGEYWI LI HMH RSX XLMRO I\LMFMXSVW [SYPH VITPEGI XLIMV TVS NIGXSVW [MXL RI[IV QEGLMRIW )HMWSR HMH RSX [ERX XS HIZIPST TVS NIGXMSR XIGLRSPSK] FIGEYWI MX PMQMXIH XLI RYQFIV SJ QEGLMRIW LI GSYPH WIPP )HMWSR [SYPH RSX HIZIPST TVSNIGXMSR XIGLRSPSK] YRPIWW I\LMFMXSVW EKVIIH XS TYVGLEWI QSVI XLER SRI TVSNIGXSV JVSQ LMQ

83)*0 M&8 6IEHMRK
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)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQI VEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ [MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW
PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
8LI [SVH VIEHMP] MR XLI TEWWEKI MW |
8LI [SVH EWWMWXERGI MR XLI TEWWEKI |
GPSWIWX MR QIERMRK XS |
MW GPSWIWX MR QIERMRK XS |
JVIUYIRXP] |
GVMXMGMWQ |
IEWMP] |
PIEHIVWLMT |
MRXIPPMKIRXP] |
LIPT |
SFZMSYWP] |
ETTVSZEP |
;MXL XLI EHZIRX SJ TVSNIGXMSR MR i QSXMSR TMGXYVIW FIGEQI XLI YPXMQEXI JSVQ
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%SJ QEWW GSRWYQTXMSR 4VIZMSYWP] PEVKI EYHMIRGIW LEH ZMI[IH WTIGXEGPIW EX XLI
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XLIEXIV [LIVI ZEYHIZMPPI TSTYPEV HVEQEW QYWMGEP ERH QMRWXVIP WLS[W GPEWWMGEP TPE]W PIGXYVIW ERH WPMHI ERH PERXIVR WLS[W LEH FIIR TVIWIRXIH XS WIZIVEP LYRHVIH
%WTIGXEXSVW EX E XMQI &YX XLI QSZMIW HMJJIVIH WMKRMJMGERXP] JVSQ XLIWI SXLIV JSVQW SJ
4
,IRXIVXEMRQIRX [LMGL HITIRHIH SR IMXLIV PMZI TIVJSVQERGI SV MR XLI GEWI SJ XLI WPMHI
ERH PERXIVR WLS[W XLI EGXMZI MRZSPZIQIRX SJ E QEWXIV SJ GIVIQSRMIW [LS EWWIQFPIH XLI JMREP TVSKVEQ
%GGSVHMRK XS TEVEKVETL LS[ HMH XLI IEVP] QSZMIW HMJJIV JVSQ TVIZMSYW WTIGXEGPIW XLEX [IVI TVIWIRXIH XS PEVKI EYHMIRGIW#
8LI] [IVI E QSVI I\TIRWMZI JSVQ SJ IRXIVXEMRQIRX
8LI] [IVI ZMI[IH F] PEVKIV EYHMIRGIW
8LI] [IVI QSVI IHYGEXMSREP
8LI] HMH RSX VIUYMVI PMZI IRXIVXEMRIVW

83)*0 M&8 6IEHMRK
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%PXLSYKL IEVP] I\LMFMXSVW VIKYPEVP] EGGSQTERMIH QSZMIW [MXL PMZI EGXW XLI WYFWXERGI SJ XLI QSZMIW XLIQWIPZIW MW QEWW TVSHYGIH TVIVIGSVHIH QEXIVMEP XLEX GER IEWMP] FI VITVSHYGIH F] XLIEXIVW [MXL PMXXPI SV RS EGXMZI TEVXMGMTEXMSR F] XLI I\LMFMXSV )ZIR XLSYKL IEVP] I\LMFMXSVW WLETIH XLIMV JMPQ TVSKVEQW F] QM\MRK JMPQW ERH SXLIV IRXIV
+XEMRQIRXW XSKIXLIV MR [LMGLIZIV [E] XLI] XLSYKLX [SYPH FI QSWX EXXVEGXMZI XS EYHM
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%IRGIW SV F] EGGSQTER]MRK XLIQ [MXL PIGXYVIW XLIMV GVIEXMZI GSRXVSP VIQEMRIH PMQMXIH
4
,;LEX EYHMIRGIW GEQI XS WII [EW XLI XIGLRSPSKMGEP QEVZIP SJ XLI QSZMIW XLI PMJIPMOI
VITVSHYGXMSR SJ XLI GSQQSRTPEGI QSXMSR SJ XVEMRW SJ [EZIW WXVMOMRK XLI WLSVI ERH SJ TISTPI [EPOMRK MR XLI WXVIIX ERH XLI QEKMG QEHI TSWWMFPI F] XVMGO TLSXSKVETL] ERH
XLI QERMTYPEXMSR SJ XLI GEQIVE
%GGSVHMRK XS TEVEKVETL [LEX VSPI HMH IEVP] I\LMFMXSVW TPE] MR XLI TVIWIRXEXMSR SJ QSZMIW MR XLIEXIVW#
8LI] HIGMHIH LS[ XS GSQFMRI ZEVMSYW GSQTSRIRXW SJ XLI JMPQ TVSKVEQ
8LI] EHZMWIH JMPQ QEOIVW SR ETTVSTVMEXI QSZMI GSRXIRX
8LI] SJXIR XSSO TEVX MR XLI PMZI EGXMSR TIVJSVQERGIW
8LI] TVSHYGIH ERH TVIVIGSVHIH XLI QEXIVMEP XLEX [EW WLS[R MR XLI XLIEXIVW
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;MXL XLI EHZIRX SJ TVSNIGXMSR XLI ZMI[IVtW VIPEXMSRWLMT [MXL XLI MQEKI [EW RS PSRKIV TVMZEXI EW MX LEH FIIR [MXL IEVPMIV TIITWLS[ HIZMGIW WYGL EW XLI /MRIXSWGSTI ERH XLI 1YXSWGSTI [LMGL [EW E WMQMPEV QEGLMRI XLEX VITVSHYGIH QSXMSR F] QIERW SJ WYG
+GIWWMZI MQEKIW SR MRHMZMHYEP TLSXSKVETLMG GEVHW MRWXIEH SJ SR WXVMTW SJ GIPPYPSMH -X
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%WYHHIRP] FIGEQI TYFPMGhER I\TIVMIRGI XLEX XLI ZMI[IV WLEVIH [MXL HS^IRW WGSVIW
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ERH IZIR LYRHVIHW SJ SXLIVW %X XLI WEQI XMQI XLI MQEKI XLEX XLI WTIGXEXSV PSSOIH EX I\TERHIH JVSQ XLI QMRYWGYPI TIITWLS[ HMQIRWMSRW SJ SV MRGLIW MR LIMKLX XS XLI PMJI WM^I TVSTSVXMSRW SJ SV JIIX
;LMGL SJ XLI JSPPS[MRK MW QIRXMSRIH MR TEVEKVETL EW SRI SJ XLI [E]W XLI 1YXSWGSTI HMJJIVIH JVSQ XLI /MRIXSWGSTI#
7SYRH ERH QSXMSR [IVI WMQYPXERI SYWP] TVSHYGIH MR XLI 1YXSWGSTI 1SVI XLER SRI TIVWSR GSYPH ZMI[ XLI MQEKIW EX XLI WEQI XMQI [MXL XLI 1YXSWGSTI 8LI 1YXSWGSTI [EW E PIWW WSTLMW XMGEXIH IEVPMIV TVSXSX]TI SJ XLI /MRIXSWGSTI % HMJJIVIRX X]TI SJ QEXIVMEP [EW YWIH XS TVSHYGI XLI MQEKIW YWIH MR XLI 1YXSWGSTI
8LI [SVH -X MR XLI TEWWEKI VIJIVW XS
XLI EHZIRX SJ TVSNIGXMSR XLI ZMI[IVtW VIPEXMSRWLMT [MXL XLI MQEKI
E WMQMPEV QEGLMRI
GIPPYPSMH
%GGSVHMRK XS TEVEKVETL XLI MQEKIW WIIR F] ZMI[IVW MR XLI IEVPMIV TIITWLS[W GSQTEVIH XS XLI MQEKIW TVSNIGXIH SR XLI WGVIIR [IVI VIPEXMZIP]
WQEPP MR WM^I
MRI\TIRWMZI XS GVIEXI
YRJSGYWIH
PMQMXIH MR WYFNIGX QEXXIV
8LI [SVH I\TERHIH MR XLI TEWWEKI MW GPSWIWX MR QIERMRK XS
[EW IRPEVKIH [EW MQTVSZIH [EW ZEVMIH [EW VINIGXIH

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)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQI VEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ [MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
0SSO EX XLI JSYV WUYEVIW XLEX MRHMGEXI [LIVI XLI JSPPS[MRK WIRXIRGI GER FI EHHIH XS XLI TEWWEKI
;LIR XLMW [MHIWTVIEH YWI SJ TVSNIGXMSR XIGLRSPSK] FIKER XS LYVX LMW /MRI XSWGSTI FYWMRIWW )HMWSR EGUYMVIH E TVSNIGXSV HIZIPSTIH F] %VQEX ERH MR XVSHYGIH MX EW q)HMWSRtW PEXIWX QEVZIP XLI :MXEWGSTI r
;LIVI [SYPH XLI WIRXIRGI FIWX JMX#
;LIR XLMW [MHIWTVIEH YWI SJ TVSNIGXMSR XIGLRSPSK] FIKER XS LYVX LMW /MRIXS WGSTI FYWMRIWW )HMWSR EGUYMVIH E TVSNIGXSV HIZIPSTIH F] %VQEX ERH MRXVSHYGIH MX EW q)HMWSRtW PEXIWX QEVZIP XLI :MXEWGSTI r )\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQI VEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ[MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQIVEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR ;LIR XLMW [MHIWTVIEH YWI SJ TVSNIGXMSR XIGLRSPSK] FIKER XS LYVX LMW /MRIXSWGSTI FYWM RIWW )HMWSR EGUYMVIH E TVSNIGXSV HIZIPSTIH F] %VQEX ERH MRXVSHYGIH MX EW q)HMWSRtW PEXIWX QEVZIP XLI :MXEWGSTI r %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ[MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQIVEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW

83)*0 M&8 6IEHMRK
0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ [MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW ;LIR XLMW [MHIWTVIEH YWI SJ TVSNIGXMSR XIGLRSPSK] FIKER XS LYVX LMW /MRIXSWGSTI FYWMRIWW )HMWSR EGUYMVIH E TVSNIGXSV HIZIPSTIH F] %VQEX ERH MRXVSHYGIH MX EW q)HMWSRtW PEXIWX QEVZIP XLI :MXEWGSTI r 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQIVEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ [MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMVKVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI ;LIR XLMW [MHIWTVIEH YWI SJ TVSNIGXMSR XIGLRSPSK] FIKER XS LYVX LMW /MRIXSWGSTI FYWMRIWW )HMWSR EGUYMVIH E TVSNIGXSV HIZIPSTIH F] %VQEX ERH MRXVSHYGIH MX EW q)HMWSRtW PEXIWX QEVZIP XLI :MXEWGSTI r
i (MVIGXMSRW
8LMW UYIWXMSR MW [SVXL TSMRXW
8LI XIGLRSPSK] JSV QSHIVR GMRIQE IZSPZIH EX XLI IRH SJ XLI RMRIXIIRXL GIRXYV]
F
F
F
/MRIXSWGSTI TEVPSVW JSV ZMI[MRK JMPQW [IVI QSHIPIH SR TLSRSKVETL TEVPSVW
8LSQEW )HMWSRtW HIWMKR SJ XLI /MRIXSWGSTI MRWTMVIH XLI HIZIPST QIRX SJ PEVKI WGVIIR TVSNIGXMSR
)EVP] GMRIQE EPPS[IH MRHMZMHYEPW XS YWI WTIGMEP QEGLMRIW XS ZMI[ JMPQW TVMZEXIP]
7PMHI ERH PERXIVR WLS[W LEH FIIR TVIWIRXIH XS EYHMIRGIW SJ LYRHVIHW SJ WTIGXEXSVW
8LI HIZIPSTQIRX SJ TVSNIGXMSR XIGL RSPSK] QEHI MX TSWWMFPI XS TVSNIGX MQEKIW SR E PEVKI WGVIIR
3RGI JMPQ MQEKIW GSYPH FI TVS NIGXIH XLI GMRIQE FIGEQI E JSVQ SJ QEWW GSRWYQTXMSR

83)*0 M&8 6IEHMRK
46%'8-') 7)8 %27;)67 %2( )<40%2%8-327
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8LMW MW E 2IKEXMZI *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSV |
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QEXMSR XLEX GER FI JSYRH MR TEVEKVETL 'LSMGI MW XLI GSVVIGX ERW[IV 8LI |
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TEVEKVETL HSIW QIRXMSR XLEX SRI ZMI[IV EX E XMQI GSYPH ZMI[ XLI JMPQW |
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GLSMGI XLEX JMPQW GSYPH FI ZMI[IH SRI EJXIV ERSXLIV GLSMGI ERH XLEX |
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JMPQW [IVI WLSVX GLSMGI 4VM^IJMKLXW EVI QIRXMSRIH EW SRI WYFNIGX SJ XLIWI |
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WLSVX JMPQW FYX RSX RIGIWWEVMP] XLI QSWX TSTYPEV SRI |
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8LMW MW E 6LIXSVMGEP 4YVTSWI UYIWXMSR -X EWOW [L] XLI EYXLSV QIRXMSRW |
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qTLSRSKVETL TEVPSVWr MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI 8LI |
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EYXLSV MW I\TPEMRMRK [L] )HMWSR HIWMKRIH LMW EVGEHIW PMOI TLSRSKVETL TEV |
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PSVW XLEX HIWMKR LEH FIIR WYGGIWWJYP JSV LMQ MR XLI TEWX 8LI TEVEKVETL HSIW |
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RSX QIRXMSR XLI TLSRSKVETL TEVPSVW XS I\TPEMR )HMWSRtW JMRERGMEP WYGGIWW WS |
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GLSMGI MW MRGSVVIGX 8LI TEVEKVETL HSIW RSX HMVIGXP] HMWGYWW XLI WMXYEXMSRW |
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HIWGVMFIH MR GLSMGIW ERH WS XLSWI ERW[IVW XSS EVI MRGSVVIGX |
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8LMW MW E 7IRXIRGI 7MQTPMJMGEXMSR UYIWXMSR %W [MXL EPP SJ XLIWI MXIQW E WMR |
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KPI WIRXIRGI MR XLI TEWWEKI MW LMKLPMKLXIH |
,I VIJYWIH XS HIZIPST TVSNIGXMSR XIGLRSPSK] VIEWSRMRK XLEX MJ LI QEHI ERH WSPH TVSNIGXSVW XLIR I\LMFMXSVW [SYPH TYVGLEWI SRP] SRI QEGLMRIhE TVSNIGXSVhJVSQ LMQ MRWXIEH SJ WIZIVEP
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8LI GSVVIGX ERW[IV MW GLSMGI 8LEX GLSMGI GSRXEMRW EPP SJ XLI IWWIRXMEP |
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MHIEW MR XLI LMKLPMKLXIH WIRXIRGI -X MW EPWS XLI SRP] GLSMGI XLEX HSIW RSX |
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GLERKI XLI QIERMRK SJ XLI WIRXIRGI 'LSMGI WE]W XLEX )HMWSR [EW QSVI |
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MRXIVIWXIH MR HIZIPSTMRK E ZEVMIX] SJ QEGLMRIW [LMGL MW RSX XVYI 'LSMGI |
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WE]W XLEX XLI VIEWSR )HMWSR VIJYWIH XS [SVO SR TVSNIGXMSR XIGLRSPSK] [EW |
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XLEX I\LMFMXSVW [SYPH RIZIV VITPEGI XLI TVSNIGXSVW 8LEX EPWS MW RSX XVYI XLI |
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LMKLPMKLXIH WIRXIRGI MQTPMIW XLEX LI VIJYWIH XS HS XLMW FIGEYWI LI [ERXIH |
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I\LMFMXSVW XS FY] WIZIVEP /MRIXSWGSTI QEGLMRIW EX E XMQI MRWXIEH SJ E WMRKPI |
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TVSNIGXSV 'LSMGI WE]W XLEX )HMWSR VIJYWIH XS HIZIPST TVSNIGXMSR XIGLRSPSK] |
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YRPIWW I\LMFMXSVW EKVIIH XS TYVGLEWI QSVI XLEX SRI TVSNIGXSV JVSQ LMQ 8LI |
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LMKLPMKLXIH WIRXIRGI EGXYEPP] WE]W XLEX )HMWSR LEH EPVIEH] VIEWSRIH SV GSR |
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GPYHIH XLEX I\LMFMXSVW [SYPH RSX FY] QSVI XLER SRI WS GLSMGI MW E GLERKI |
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MR IWWIRXMEP QIERMRK |
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8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW VIEHMP] -X MW LMKL |
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PMKLXIH MR XLI TEWWEKI 6IEHMP] QIERW qIEWMP] r WS GLSMGI MW XLI GSVVIGX |
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ERW[IV 8LI SXLIV GLSMGIW HS RSX JMX MR XLI GSRXI\X SJ XLI WIRXIRGI |
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8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW EWWMWXERGI -X MW |
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LMKLPMKLXIH MR XLI TEWWEKI %R EWWMWXERX MW E TIVWSR [LS LIPTW E PIEHIV WS |
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GLSMGI qLIPT r MW XLI GSVVIGX ERW[IV |
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8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX |
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GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI )EVP] QSZMIW |
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[IVI HMJJIVIRX JVSQ TVIZMSYW WTIGXEGPIW FIGEYWI XLI] HMH RSX VIUYMVI PMZI |
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EGXSVW 8LI TEVEKVETL WXEXIW IQTLEWMW EHHIH |

83)*0 M&8 6IEHMRK
q&YX XLI QSZMIW HMJJIVIH WMKRMJMGERXP] JVSQ XLIWI SXLIV JSVQW SJ IRXIVXEMRQIRX [LMGL
HITIRHIH SR IMXLIV PMZI TIVJSVQERGI SV MR XLI GEWI SJ XLI WPMHI ERH PERXIVR WLS[W
XLI EGXMZI MRZSPZIQIRX SJ E QEWXIV SJ GIVIQSRMIW [LS EWWIQFPIH XLI JMREP TVSKVEQ r
7S XLI JEGX XLEX TVIZMSYW WTIGXEGPIW HITIRHIH SR PMZI TIVJSVQERGIW MW I\TPMGMXP] WXEXIH EW SRI SJ XLI [E]W FYX RSX XLI SRP] [E] XLEX XLSWI IEVPMIV IRXIVXEMRQIRXW HMJJIVIH JVSQ QSZMIW 8LI SXLIV ERW[IV GLSMGIW EVI RSX QIR XMSRIH MR XLI TEVEKVETL
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI q8LI] HIGMHIH LS[ XS GSQFMRI ZEVMSYW GSQTSRIRXW SJ XLI JMPQ TVSKVEQ r FIGEYWI XLEX MHIE MW WXEXIH I\TPMGMXP] MR XLI TEVEKVETL
q)EVP] I\LMFMXSVW WLETIH XLIMV JMPQ TVSKVEQW F] QM\MRK JMPQW ERH SXLIV IRXIVXEMR
QIRXW XSKIXLIV r
8LI SXLIV GLSMGIW [LMPI TSWWMFP] XVYI EVI RSX I\TPMGMXP] QIRXMSRIH MR XLI
TEVEKVETL EW FIMRK EQSRK XLI I\LMFMXSVWt VSPIW
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI q% HMJJIVIRX X]TI SJ QEXIVMEP [EW YWIH XS TVSHYGI XLI MQEKIW YWIH MR XLI 1YXSWGSTI r 8LI TEVEKVETL WE]W XLEX XLIWI QEGLMRIW [IVI ZIV] WMQMPEV FYX XLEX XLI] HMJJIVIH MR SRI TEVXMGYPEV [E]
q XLI 1YXSWGSTI [LMGL [EW E WMQMPEV QEGLMRI XLEX VITVSHYGIH QSXMSR F] QIERW
SJ WYGGIWWMZI MQEKIW SR MRHMZMHYEP TLSXSKVETLMG GEVHW MRWXIEH SJ SR WXVMTW SJ GIPPY
PSMH r
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8LMW MW E 6IJIVIRGI UYIWXMSR 8LI [SVH FIMRK XIWXIH MW -X 8LEX [SVH MW |
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LMKLPMKLXIH MR XLI TEWWEKI 'LSMGI qXLI ZMI[IVtW VIPEXMSRWLMT [MXL XLI |
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MQEKI r MW XLI GSVVIGX ERW[IV 8LMW MW E WMQTPI TVSRSYR VIJIVIRX MXIQ 8LI WIR |
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XIRGI WE]W XLEX q-Xr WYHHIRP] FIGEQI qTYFPMG r [LMGL MQTPMIW XLEX [LEXIZIV |
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q-Xr MW MX [EW JSVQIVP] TVMZEXI 8LI TEVEKVETL WE]W XLEX XLI qZMI[IVtW VIPEXMSR |
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WLMT XS XLI MQEKI [EW RS PSRKIV TVMZEXI r WS XLEX VIPEXMSRWLMT MW XLI q-Xr |
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VIJIVVIH XS LIVI |
8LMW MW E *EGXYEP -RJSVQEXMSR UYIWXMSR EWOMRK JSV WTIGMJMG MRJSVQEXMSR XLEX GER FI JSYRH MR TEVEKVETL 8LI GSVVIGX ERW[IV MW GLSMGI 8LI TEVEKVETL WE]W XLEX XLI MQEKIW I\TERHIH JVSQ ER MRGL SV X[S XS PMJI WM^I TVSTSVXMSRW WS qWQEPP MR WM^Ir QYWX FI GSVVIGX 8LI TEVEKVETL HSIW RSX QIRXMSR XLI SXLIV GLSMGIW
8LMW MW E :SGEFYPEV] UYIWXMSR 8LI [SVH FIMRK XIWXIH MW I\TERHIH -X MW LMKLPMKLXIH MR XLI TEWWEKI 'LSMGI q[EW IRPEVKIH r MW XLI GSVVIGX ERW[IV -J WSQIXLMRK I\TERHIH MX KVI[ SV KSX FMKKIV q)RPEVKIHr EPWS QIERW qKVI[ SV KSX FMKKIV r

83)*0 M&8 6IEHMRK
8LMW MW ER -RWIVX 8I\X UYIWXMSR =SY GER WII XLI JSYV FPEGO WUYEVIW MR TEVE KVETL XLEX VITVIWIRX XLI TSWWMFPI ERW[IV GLSMGIW LIVI
)\LMFMXSVW LS[IZIV [ERXIH XS QE\MQM^I XLIMV TVSJMXW [LMGL XLI] GSYPH HS QSVI VIEHMP] F] TVSNIGXMRK E LERHJYP SJ JMPQW XS LYRHVIHW SJ GYWXSQIVW EX E XMQI VEXLIV XLER SRI EX E XMQI ERH F] GLEVKMRK XS GIRXW EHQMWWMSR %FSYX E ]IEV EJXIV XLI STIRMRK SJ XLI JMVWX /MRIXSWGSTI TEVPSV MR WLS[QIR WYGL EW 0SYMW ERH %YKYWXI 0YQMÌVI 8LSQEW %VQEX ERH 'LEVPIW *VERGMW .IROMRW ERH 3VZMPPI ERH ;SSHZMPPI 0EXLEQ [MXL XLI EWWMWXERGI SJ )HMWSRtW JSVQIV EWWMWXERX ;MPPMEQ (MGOWSR TIVJIGXIH TVSNIGXMSR HIZMGIW 8LIWI IEVP] TVSNIGXMSR HIZMGIW [IVI YWIH MR ZEYHIZMPPI XLIEXIVW PIKMXMQEXI XLIEXIVW PSGEP XS[R LEPPW QEOIWLMJX WXSVIJVSRX XLIEXIVW JEMV KVSYRHW ERH EQYWIQIRX TEVOW XS WLS[ JMPQW XS E QEWW EYHMIRGI
8LI MRWIVXIH WIRXIRGI JMXW FIWX EX WUYEVI FIGEYWI MX VITVIWIRXW XLI JMREP VIWYPX SJ XLI KIRIVEP YWI SJ TVSNIGXSVW %JXIV TVSNIGXSVW FIGEQI TSTYPEV )HM WSR PSWX QSRI] ERH EPXLSYKL LI LEH TVIZMSYWP] VIJYWIH XS HIZIPST TVSNIGXMSR XIGLRSPSK] RS[ LI [EW JSVGIH XS HS WS 8S TPEGI XLI WIRXIRGI ER]TPEGI IPWI [SYPH MRXIVVYTX XLI PSKMGEP REVVEXMZI WIUYIRGI SJ XLI IZIRXW HIWGVMFIH 2SRI SJ XLI WIRXIRGIW MR XLMW TEVEKVETL GER PSKMGEPP] JSPPS[ XLI MRWIVXIH WIRXIRGI WS WUYEVIW ERH EVI EPP MRGSVVIGX
8LMW MW E 4VSWI 7YQQEV] UYIWXMSR -X MW GSQTPIXIH GSVVIGXP] FIPS[ 8LI GSVVIGX GLSMGIW EVI ERH 'LSMGIW ERH EVI XLIVIJSVI MRGSVVIGX
(MVIGXMSRW
8LMW UYIWXMSR MW [SVXL TSMRXW
8LI XIGLRSPSK] JSV QSHIVR GMRIQE IZSPZIH EX XLI IRH SJ XLI RMRIXIIRXL GIRXYV]
F)EVP] GMRIQE EPPS[IH MRHMZMHYEPW XS YWI WTIGMEP QEGLMRIW XS ZMI[ JMPQW TVM ZEXIP]
F8LI HIZIPSTQIRX SJ TVSNIGXMSR XIGLRSPSK] QEHI MX TSWWMFPI XS TVSNIGX MQEKIW SR E PEVKI WGVIIR
F3RGI JMPQ MQEKIW GSYPH FI TVSNIGXIH XLI GMRIQE FIGEQI E JSVQ SJ QEWW GSRWYQTXMSR

83)*0 M&8 6IEHMRK
/MRIXSWGSTI TEVPSVW JSV ZMI[MRK JMPQW [IVI QSHIPIH SR TLSRSKVETL TEVPSVW
8LSQEW )HMWSRtW HIWMKR SJ XLI /MRIXSWGSTI MRWTMVIH XLI HIZIPST QIRX SJ PEVKI WGVIIR TVSNIGXMSR
)EVP] GMRIQE EPPS[IH MRHMZMHYEPW XS YWI WTIGMEP QEGLMRIW XS ZMI[ JMPQW TVMZEXIP]
7PMHI ERH PERXIVR WLS[W LEH FIIR TVIWIRXIH XS EYHMIRGIW SJ LYRHVIHW SJ WTIGXEXSVW
8LI HIZIPSTQIRX SJ TVSNIGXMSR XIGL RSPSK] QEHI MX TSWWMFPI XS TVSNIGX MQEKIW SR E PEVKI WGVIIR
3RGI JMPQ MQEKIW GSYPH FI TVS NIGXIH XLI GMRIQE FIGEQI E JSVQ SJ QEWW GSRWYQTXMSR
'LSMGI q)EVP] GMRIQE EPPS[IH MRHMZMHYEPW XS YWI WTIGMEP QEGLMRIW XS ZMI[ JMPQW TVMZEXIP] qMW GSVVIGX FIGEYWI MX VITVIWIRXW SRI SJ XLI GLMIJ HMJJIVIRGIW FIX[IIR /MRIXSWGSTI ERH TVSNIGXMSR ZMI[MRK 8LMW MHIE MW HMWGYWWIH EX WIZIVEP TPEGIW MR XLI TEWWEKI -X MW QIRXMSRIH MR TEVEKVETLW ERH 8LYW MX MW E FEWMG VIGYVVMRK XLIQI SJ XLI TEWWEKI ERH EW WYGL E qQENSV MHIE r
'LSMGI q8LI HIZIPSTQIRX SJ TVSNIGXMSR XIGLRSPSK] QEHI MX TSWWMFPI XS TVSNIGX MQEKIW SR E PEVKI WGVIIR r MW GSVVIGX FIGEYWI XLMW MW E QENSV MHIE XLEX MW HIZIP STIH MR TEVEKVETLW ERH 8LMW HIZIPSTQIRX [EW IWWIRXMEPP] XLI VIEWSR XLEX XLI GMRIQE qIQIVKIH EW E JSVQ SJ QEWW GSRWYQTXMSR r
'LSMGI q3RGI JMPQ MQEKIW GSYPH FI TVSNIGXIH XLI GMRIQE FIGEQI E JSVQ SJ QEWW GSRWYQTXMSR r MW GSVVIGX FIGEYWI MX VITVIWIRXW XLI TVMQEV] XLIQI SJ XLI TEWWEKI -X MW I\TPMGMXP] WXEXIH MR XLI TEWWEKItW STIRMRK WIRXIRGI XLIR XLI VIQEMRHIV SJ XLI TEWWEKI HIWGVMFIW XLEX IZSPYXMSR
'LSMGI q/MRIXSWGSTI TEVPSVW JSV ZMI[MRK JMPQW [IVI QSHIPIH SR TLSRSKVETL TEVPSVW r MW MRGSVVIGX FIGEYWI [LMPI XVYI MX MW E QMRSV HIXEMP 8LI /MRIXSWGSTI TEVPSVW EVI HIWGVMFIH MR TEVEKVETL FYX XLI JEGX XLEX XLI] [IVI QSHIPIH SR TLSRSKVETL TEVPSVW MW RSX GIRXVEP XS XLI qIZSPYXMSRr SJ GMRIQE
'LSMGI q8LSQEW )HMWSRtW HIWMKR SJ XLI /MRIXSWGSTI MRWTMVIH XLI HIZIPSTQIRX SJ PEVKI WGVIIR TVSNIGXMSR r MW MRGSVVIGX FIGEYWI MX MW RSX GPIEV XLEX MX MW XVYI FEWIH SR XLI TEWWEKI ;LMPI MX QE] FI MRJIVVIH JVSQ TEVEKVETL XLEX XLI /MRIXSWGSTI MRWTMVIH XLI HIZIPSTQIRX SJ PEVKI WGVIIR TVSNIGXMSR MX WIIQW QSVI PMOIP] XLEX XLI TYVWYMX SJ KVIEXIV TVSJMXW MW [LEX VIEPP] MRWTMVIH PEVKI WGVIIR TVSNIGXMSR HIZIPSTQIRX 7MRGI XLMW ERW[IV MW RSX GPIEVP] WYTTSVXIH MR XLI TEWWEKI MX GERRSX FI GSRWMHIVIH E qQEMR MHIEr ERH MW MRGSVVIGX
'LSMGI q7PMHI ERH PERXIVR WLS[W LEH FIIR TVIWIRXIH XS EYHMIRGIW SJ LYRHVIHW SJ WTIGXEXSVW r MW MRGSVVIGX FIGEYWI MX MW E QMRSV HIXEMP QIRXMSRIH SRP] SRGI MR TEVEKVETL EW TEVX SJ E PEVKIV PMWX SJ XLIEXVMGEP WTIGXEGPIW

46%'8-') 7)8
%++6)77-32
;LIR SRI ERMQEP EXXEGOW ERSXLIV MX IRKEKIW MR XLI QSWX SFZMSYW I\EQTPI SJ EKKVIW WMZI FILEZMSV 4W]GLSPSKMWXW LEZI EHSTXIH WIZIVEP ETTVSEGLIW XS YRHIVWXERHMRK EK KVIWWMZI FILEZMSV MR TISTPI
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
%R SJJWLSSX SJ XLI FMSPSKMGEP ETTVSEGL GEPPIH WYKKIWXW XLEX EKKVIW WMSR MW REXYVEP ERH IZIR HIWMVEFPI JSV TISTPI 7SGMSFMSPSK] ZMI[W QYGL WSGMEP FILEZ MSV MRGPYHMRK EKKVIWWMZI FILEZMSV EW KIRIXMGEPP] HIXIVQMRIH 'SRWMHIV (EV[MRtW XLISV] SJ IZSPYXMSR (EV[MR LIPH XLEX QER] QSVI MRHMZMHYEPW EVI TVSHYGIH XLER GER JMRH JSSH ERH WYVZMZI MRXS EHYPXLSSH % WXVYKKPI JSV WYVZMZEP JSPPS[W 8LSWI MRHMZMHY EPW [LS TSWWIWW GLEVEGXIVMWXMGW XLEX TVSZMHI XLIQ [MXL ER EHZERXEKI MR XLI WXVYKKPI JSV I\MWXIRGI EVI QSVI PMOIP] XS WYVZMZI ERH GSRXVMFYXI XLIMV KIRIW XS XLI RI\X KIRIVE XMSR -R QER] WTIGMIW WYGL GLEVEGXIVMWXMGW MRGPYHI EKKVIWWMZIRIWW &IGEYWI EKKVIW WMZI MRHMZMHYEPW EVI QSVI PMOIP] XS WYVZMZI ERH VITVSHYGI [LEXIZIV KIRIW EVI PMROIH XS EKKVIWWMZI FILEZMSV EVI QSVI PMOIP] XS FI XVERWQMXXIH XS WYFWIUYIRX KIRIVEXMSRW
8LI WSGMSFMSPSKMGEP ZMI[ LEW FIIR EXXEGOIH SR RYQIVSYW KVSYRHW 3RI MW XLEX TISTPItW GETEGMX] XS SYX[MX SXLIV WTIGMIW RSX XLIMV EKKVIWWMZIRIWW ETTIEVW XS FI XLI HSQMRERX JEGXSV MR LYQER WYVZMZEP %RSXLIV MW XLEX XLIVI MW XSS QYGL ZEVMEXMSR EQSRK TISTPI XS FIPMIZI XLEX XLI] EVI HSQMREXIH F] SV EX XLI QIVG] SJ EKKVIWWMZI MQTYPWIW
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t TYRMWLQIRX ERH XLI PSWW SJ TEVIRXEP PSZI GSQI XS VITVIWW QSWX EKKVIWWMZI MQTYPWIW 8LI *VIYHMER TIVWTIGXMZI MR E WIRWI WIIW YW EW qWXIEQ IR KMRIW r &] LSPHMRK MR VEXLIV XLER ZIRXMRK qWXIEQ r [I WIX XLI WXEKI JSV JYXYVI I\TPS WMSRW 4IRX YT EKKVIWWMZI MQTYPWIW HIQERH SYXPIXW 8LI] QE] FI I\TVIWWIH XS[EVH TEVIRXW MR MRHMVIGX [E]W WYGL EW HIWXVS]MRK JYVRMXYVI SV XLI] QE] FI I\TVIWWIH XS[EVH WXVERKIVW PEXIV MR PMJI
%GGSVHMRK XS TW]GLSH]REQMG XLISV] XLI FIWX [E]W XS TVIZIRX LEVQJYP EKKVIWWMSR QE] FI XS IRGSYVEKI PIWW LEVQJYP EKKVIWWMSR -R XLI WXIEQ IRKMRI EREPSK] ZIVFEP EK KVIWWMSR QE] ZIRX WSQI SJ XLI EKKVIWWMZI WXIEQ 7S QMKLX GLIIVMRK SR SRItW JEZSVMXI WTSVXW XIEQ 4W]GLSEREP]WXW XLIVETMWXW EHSTXMRK E TW]GLSH]REQMG ETTVSEGL VIJIV XS XLI ZIRXMRK SJ EKKVIWWMZI MQTYPWIW EW qGEXLEVWMW r 'EXLEVWMW MW XLISVM^IH XS FI E WEJIX] ZEPZI &YX VIWIEVGL JMRHMRKW SR XLI YWIJYPRIWW SJ GEXLEVWMW EVI QM\IH 7SQI