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-'.6+5%*'/ª0<'0 $4+6#00+#

1,5:1

1



1

#64'$#6'5 8GTKEC  Õ7PKV   I 5VKGT UVÌ­V T6QICVWU UVGJV N OKV <YGKI   WPF5RGGTXCP#TUFGNN 5EJTÌVNKPIUHGJNGTCWHFGO#XGTUUGJTUEJÌP



8GTKEC FGT 5QJP FGU LÒPIGTGP %QOOKWU QRRQPKGTVG IGIGP UGKPGP $TWFGT 'RRKNNWU WPF UVKG­ FKGUGP XQO 6JTQP   0CEJFGO GT FWTEJ %CTCVCEWU FGP -ÌPKI FGT %CVWXGNNCWPK DGUKGIV YQTFGP YCT HNQJ GT WO  PCEJ 4QO YKG &KQ   DGTKEJVGVFGTKJP$GTKMQUPGPPV&KGUHÒJTVGYCJTUEJGKPNKEJ\WT+PXCUKQPFGU%NCWFKWUKOHQNIGPFGP,CJT

2

4

3



&74164+)'5 Õ5VCVGT  X %JT  I 5VKNKUKGTVGT #RQNNQMQRH T5VKNKUKGTVGU 2HGTF N   XCP#TUFGNN 8QT\ÒINKEJ



Õ7PKV  X %JT  I 5VGTPOQVKX<KEM\CEMNKPKG WPF 5RKPPGPOWUVGT XCP #TUFGNN    (CUVXQT\ÒINKEJ





+%'0+Õ7PKVI*CNDOQPFOWUVGT5VKNKUKGTVGU2HGTFTXCP#TUFGNN 5GJTUEJÌP





64+018#06'5 Ô5VCVGT  X %JT  I 5VKNKUKGTVGT #RQNNQMQRH T2HGTF T XCP #TUFGNN    5GJTUEJÌP 



)#..+#



#7.'4%+ %'01/#0+ Ô5VCVGT WO  X %JT  I -QRH T OKV .QTDGGTMTCP\5VKNKUKGTVGT   'KPUR·PPGT OKV CPFTQMGRJCNGO 2HGTF T ÒDGT NKGIGPFGT )GUVCNV T %CUVGNKP <ÒTKEJ  &GNG   UVTG¾6CEJG&6 4#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 



#7.'4%+ '$7418+%'5 Ô 5VCVGT  ,CJTJWPFGTV X %JT  I #RQNNQMQRH T2HGTF   TFCTÒDGT9QNHWPVGP#FNGT&GNGUVT¾G6CEJG 8QPITQ­GT5GNVGPJGKV(CUVUGJTUEJÌP





%#.'6'5 Ô 5VCVGT  ,CJTJWPFGTV X %JT  I -QRH T2HGTF T FCTÒDGT *QEMGPFGT   WPVGP4CF&GNGUVTG¾6CEJGXGTIN&6 8QTFGTUGKVGMQTTQFKGTVUGJTUEJÌP



10 El



.'7%+ Ô5VCVGT  ,CJTJWPFGTV X %JT  I -QRH T OKV &KCFGO2HGTF T -QRH N FCTÒDGT   2CNOGFCTWPVGT-TGKU%CUVGNKP<ÒTKEJ&GNGUVTG¾6CEJG&65EJGGTU2N:HH 5GJTUEJÌP 



2+%610'5 'N5VCVGT  ,CJTJWPFGTV X %JT  I /·PPNKEJGT -QRH T#PFTQMGRJCNGU 2HGTF   OKV.GPMGTTFCTWPVGT*CPF%CUVGNKP<ÒTKEJ 5GJTUEJÌP  11


14 El

11 Å

12 El

13 Æ



5'010'5 Ô5VCVGT  ,CJTJWPFGTV X %JT  I -TGW\ PKEJV OGJT UKEJVDCT )NCVV &GNG   UVT¾G6CEJGXGTIN&6 5GJTUEJÌP



5'37#0+ 'N5VCVGT  ,CJTJWPFGTV X %JT  I -QRH T OKV .QTDGGTMTCP\$KIC T WPVGP 4CF   %CUVGNKP<ÒTKEJXGTINHH (CUVUGJTUEJÌP





“5VCVGT  ,CJTJWPFGTV X %JT  I -QRH T OKV  .QTDGGTMTCP\4GKVGT N WPVGP 4CF %CUVGNKP   <ÒTKEJHH (CUVUGJTUEJÌP





57'55+10'5 'N5VCVGT  X %JT  I 1TPCOGPVG UVKNKUKGTVGU #WIG (NÒIGN5VKNKUKGTVGU   2HGTFNFCTWPVGT4CFFCTÒDGT5VGTP&GNGUVTG¾6CEJG&6 4CPFHGJNGTHCUVXQT\ÒINKEJGU'ZGORNCT 



&KG<WYGKUWPIKUVPKEJVIGUKEJGTV/ÌINKEJGTYGKUGYWTFGFGT5VCVGTXQPFGP%CTPWVGUIGRT·IV

15 Æ

1,5:1

1,5:1

16 Æ

15 Æ

16 Æ



“U  X %JT  I $·TVKIGT +CPWUMQRH.ÌYG URTKPIV N FCTWPVGT -TGKU %CUVGNKP <ÒTKEJ   &GNGUVTG¾6CEJG&65EJGGTU2N:+: )TÒPG2CVKPCUGJTUEJÌP





“U  X %JT  I -QRH N2HGTF URTKPIV N FCTWPVGT .GIGPFG %4+%+48 %CUVGNKP <ÒTKEJ   &GNGUVTG¾6CEJG&65EJGGTU )N·P\GPFGITÒPG2CVKPCUGJTUEJÌP



17 Å



8'0'6+ Ô5VCVGT  ,CJTJWPFGTV X %JT  I 5VKNKUKGTVGT -QRH T FCXQT -TGW\#PFTQMG   RJCNGU 2HGTF T OKV .GPMGT FCTWPVGT OGPUEJNKEJGT 1DGTMÌTRGT OKV CWUIGDTGKVGVGP #TOGP &GNG   UVTG¾6CEJG&6 'VYCUXGTRT·IVUGJTUEJÌP



$'.)+%#

1,5:1

 12

18

1,5:1

#/$+#0+ Õ3WKPCT  ,CJTJWPFGTV X %JT  I 5VKNKUKGTVGT #VJGPCMQRH T OKV *GNO   5VKNKUKGTVGU2HGTFTFCTWPVGT*KRRQECORWURTQVQOGN&GNGUVTG¾6CEJG&6 445GJTUEJÌP




21 Å

20 Å

19 Å



Ô5VCVGT  X %JT  I $WEMGN5VKNKUKGTVGU 2HGTF T FCU )KVVGTOWUVGT KO #DUEJPKVV KUV   UKEJVDCT%CUVGNKP<ÒTKEJ (CUVXQT\ÒINKEJ





Ô5VCVGT  X %JT  I $WEMGN5VKNKUKGTVGU 2HGTF T \YKUEJGP 2WPMVGP WPF *CNDOQPFGP   %CUVGNKP<ÒTKEJ 5GJTUEJÌP





Ô5VCVGT  X %JT  I $WEMGN5VKNKUKGTVGU 2HGTF T \YKUEJGP 2WPMVGP WPF *CNDOQPFGP   %CUVGNKP<ÒTKEJXGTIN 5GJTUEJÌP



23

22



24 Æ

26 Æ

25 Å

Õ3WKPCT  X %JT  I 1TPCOGPVG UVKNKUKGTVG 2HGTFGRTQVQOG T! 5VKNKUKGTVGU 2HGTF T   FCXQT 2WPMV KO -TGKU OKV HÒPH 5VTCJNGP FCTWPVGT *KRRQECORWURTQVQOG T &GNGUVTG¾6CEJG &6    445GJTUEJÌP



Õ3WKPCT  X %JT  I 1TPCOGPVG UVKNKUKGTVG 2HGTFGRTQVQOG T! 5VKNKUKGTVGU 2HGTF T   FCXQT 2WPMV KO -TGKU OKV HÒPH 5VTCJNGP FCTWPVGT *KRRQECORWURTQVQOG T &GNGUVTG¾6CEJG &6    44-NGKPGT4CPFHGJNGTUGJTUEJÌP





“U  X %JT  I 5VKNKUKGTVGT -QRH N2HGTF N FCTÒDGT JQEMGPFGT .GPMGT 5EJGGTU 2N   :8+ )TÒPG2CVKPCUGJTUEJÌP





#64'$#6'5Ô5VCVGTX%JTI$WEMGN1TPCOGPVG&GNGUVTG¾6CEJG&6  5GJTUEJÌP



$'..18#%+“UX%JTI5VKNKUKGTVGT-QRHN*CJPUVGJVTXQTFGP$GKPGPOGPUEJ NKEJGU)GUKEJV&GNGUVT¾G6CEJG&6 )TÒPG2CVKPCHCUVXQT\ÒINKEJ



 

27 Å 28 P

28 P



/14+0+Ô5VCVGTX%JTI$WEMGN1TPCOGPVG&GNGUVTG¾6CEJG&6  5GJTUEJÌP





4'/+ 2QVKP  ,CJTJWPFGTV X %JT  I /CPP T OKV 6QTSWGU WPF .CP\G(CDGNVKGT T &GNG   UVT¾G6CEJG&6 5GNVGPKPFKGUGT'TJCNVWPI)WVGUUGJTUEJÌP



29 Å

31 B

30 Å



Ô5VCVGT  X %JT  I 5VKNKUKGTVGU #WIG T2HGTF N FCTÒDGT 8 FCTWPVGT -TGKU KO   2GTNMTGKUFCXQTWPFFCJKPVGT5VGTP&GNGUVT¾G6CEJG&6 48QT\ÒINKEJ 



Ô5VCVGT  X %JT  I 5VKNKUKGTVGU #WIG T2HGTF N FCTÒDGT 8 FCTWPVGT -TGKU KO   2GTNMTGKUFCXQTWPFFCJKPVGT5VGTP&GNGUVT¾G6CEJG&6 4(CUVXQT\ÒINKEJ 



$ 5VCVGT  ,CJTJWPFGTV X %JT  I &TGK $ÌIGP KP 2WPMVGP GPFGPF WPVGP *CNDOQPF   2HGTFNFCTWPVGT5VGTP&GNGUVT¾G6CEJG&6 5GJTUEJÌP

 13


32 Å

33 Æ



8'.+1%#55'5 Ô 5VCVGT  X %JT  I 5VKNKUKGTVGU )GUKEJV T5VKNKUKGTVGU 2HGTF   FCTÒDGTWPFFCTWPVGT5VGTP&GNGUVT¾G6CEJG&6.C6QWT5EJGGTU2N8+ 5GJTUEJÌP





“U  X %JT  I /CPP N·WHV OKV CWUIGDTGKVGVGP #TOGP N -QRHTÒDGTFGP#TOGPLGGKP 4KPI OKV <GPVTCNRWPMV WPVGT FGP #TOGP LG GKP JGT\HÌTOKIGU $NCVV2HGTF N·WHV T &GNGUVT¾G6CEJG   &6 )TÒPG2CVKPCUGJTUEJÌP



)'4/#0+#

34 Å

35 Å 1,5:1



8+0&'.+-'4 Ô5VCVGT 4GIGPDQIGPUEJÒUUGNEJGP   ,CJTJWPFGTV X %JT  I 6TKUMGNKU KP   $N·VVGTMTCP\&TGK&QRRGNTKPIGWPFHÒPH2WPMVTKPIGKP<KEM\CEMGKPHCUUWPI-GNNPGTXGTIN6[R+:$  5GJTUEJÌP 



Ô5VCVGT 4GIGPDQIGPUEJÒUUGNEJGP   ,CJTJWPFGTV X %JT  I 8QIGNMQRH N \YKUEJGP \YGK   -WIGNPFCXQT&TGKXKGTVGNMTCP\6QTSWGUOKV-WIGNP-GNNPGT6[R++%  2T·IGUEJY·EJGMN5EJTÌVNKPIUHGJNGTUGJTUEJÌP



*'.8'6+#

36 Å



#010;/ Ô 5VCVGT  ,CJTJWPFGTV X %JT  I -QRH T OKV .QTDGGTMTCP\$KIC T %CUVG   NKP<ÒTKEJXGTINHH 2T·IGUEJY·EJGHCUVUGJTUEJÌP



$1*'/+#

38 Å

39 Å

37 Å 1,5:1



37 Å

#010;/ Ô5VCVGT WO  X %JT  I #ZV OKV -TGW\4QNNVKGT &TCEJG  %CUVGNKP )QNF   RT·IWPI6H2CWNUGP 445GJTUEJÌP  2KPM W C YQNNVGP FGP &TCEJGP OKV FGO UM[VJKUEJGP 6KGTUVKN KP 8GTDKPFWPI DTKPIGP $ÌJOGP NCI CDGT PKEJV KO   'KPHNW­IGDKGV FGT 5M[VJGP FKGUGU TGKEJVG JÌEJUVGPU DKU 7PICTP WPF \WT 5ÒFUNQYCMGK #PFGTG XGTYKGUGP YGIGP   FGT#ZVCWHFGPICNNKUEJGP5VCOOFGT6GEVQUCIGPFKGUUEJGKPVCDGTPQEJWPYCJTUEJGKPNKEJGT



$1+'4 Ô 5VCVGT  ,CJTJWPFGTV X %JT  I $WEMGN<YGK N·PINKEJG )GDKNFG XQP   <KEM\CEMNKPKGWOIGDGP%CUVGNKP<ÒTKEJHH2CWNUGP 8QT\ÒINKEJ



'ZGORNCTFGT#WMVKQP5VGTPDGTI<ÒTKEJ0T

 14

Ô 5VCVGT  ,CJTJWPFGTV X %JT  I $WEMGN<YGK N·PINKEJG )GDKNFG XQP <KEM\CEMNKPKG   WOIGDGP%CUVGNKP<ÒTKEJHH2CWNUGP (CUVXQT\ÒINKEJ




014+%7/

40 1,5:1



1,5:1

#010;/ Õ6GVTCFTCEJOG 6[R -WIGNTGKVGT  ,CJTJWPFGTV X %JT  I -QRH N OKV .QT   DGGTMTCP\4GKVGTN-QUVKCN UVGORGNINGKEJ   -NGKPGT5VGORGNDTWEJCWHFGT4ÒEMUGKVGFGPPQEJCVVTCMVKXGUXQT\ÒINKEJGU'ZGORNCT



41



%121 ! Õ6GVTCFTCEJOG  I -QRH T OKV VQTSWGUHÌTOKIGO 1JT4GKVGT N )ÌDN 0QTKEWO   6HHH-QUVKCN 5GJTUEJÌP



2#0010+#

42



Õ6GVTCFTCEJOG  ,CJTJWPFGTV X %JT  I <GWUMQRH T OKV .QTDGGTMTCP\4GKVGT N )ÌDN   1UVMGNVGP-QUVKCN 5GJTUEJÌP

43



44

1,5:1



Õ6GVTCFTCEJOG 6[R 4GKVGTUVWORH-TQKUDCEJ 'PFG  ,CJTJWPFGTV X %JT  I -QRH T OKV   FTGKHCEJGO2GTNFKCFGO4GKVGTCWHIGRWPMVGVGT$QFGPNKPKGN)ÌDN1UVMGNVGP-QUVKCNXGTIN 8QT\ÒINKEJGU'ZGORNCT 



Õ6GVTCFTCEJOG  ,CJTJWPFGTV X %JT  I <GWUMQRH T OKV FQRRGNVGO 2GTNMTCP\4GKVGT   T)ÌDN1UVMGNVGP-QUVKCN 5GJTUEJÌP



/1'5+#

45



Õ6GVTCFTCEJOG6[R<YGKICTOWOX%JTI.QEMKIGT<GWUMQRHT4GKVGTNOKVGTJQ DGPGONKPMGP<YGKICTO%CUVGNKP<ÒTKEJ)ÌDN-QUVKCN  4-N2T·IGUEJY·EJGCO4CPFXQT\ÒINKEJ

 15


46 1,5:1



1,5:1

Õ6GVTCFTCEJOG6[R<YGKICTOWOX%JTI.QEMKIGT<GWUMQRHT4GKVGTNOKVGTJQDG PGONKPMGP<YGKICTO%CUVGNKP<ÒTKEJXGTIN)ÌDN-QUVKCNXCT  8QT\ÒINKEJGU2TCEJVGZGORNCTOKVHGKPGT6ÌPWPI

47







48

Õ6GVTCFTCEJOG6[R$CWOTGKVGT,CJTJWPFGTVX%JTI<GWUMQRHTOKV.QTDGGTMTCP\ 4GKVGTNOKV$CWOWPVGP2WPMVWPF-WIGN-QUVKCNXGTIN  -PCRRGTQXCNGT5EJTÌVNKPIUGJTUEJÌP



Õ6GVTCFTCEJOG  ,CJTJWPFGTV X %JT  I <GWUMQRH T OKV .QTDGGTMTCP\4GKVGT N )ÌDN   1UVMGNVGP-QUVKCN (CUVUGJTUEJÌP



&#%+#

49



50 B

51

Õ6GVTCFTCEJOG #NGZCPFTGKGT ,CJTJWPFGTVX%JTI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU #GVQRJQTQU UKV\V N )ÌDN 1UVMGNVGP  -QUVKCN  .WMCPE  XGTIN 2N   HH UV·TMGT DCTDCTKUKGTV    44(CUVXQT\ÒINKEJGU'ZGORNCTOKVJGTTNKEJGT2CVKPC 'ZGORNCTFGT5COONWPI/CTICTGVJC.G[#WMVKQP.CP\/ÒPEJGP0T &CU5VÒEMKOKVKGTVGKPG6GVTCFTCEJOG#NGZCPFGTU+++CWUFGT/ÒP\UV·VVG#ORJKRQNKU 2TKEG 







$6GVTCFTCEJOG  ,CJTJWPFGTV X %JT  I 5VKNKUKGTVGT -QRH T5VKNKUKGTVGT 4GKVGT N %CUVG   NKP<ÒTKEJ-QUVKCN 5GJTUEJÌP





Õ6GVTCFTCEJOG PCEJ VJCUKUEJGO 6[R  ,CJTJWPFGTV X %JT  I &KQP[UQUMQRH T*GTCMNGU   UVGJVNOKV-GWNGWPF.ÌYGPHGNN.WMCPEXGTIN 5GJTUEJÌP



16


6*4#%+#

52



Õ6GVTCFTCEJOG  ,CJTJWPFGTV X %JT 6[NKU !   I $WEMGN<GWU #GVQRJQTQU UKV\V N   %CUVGNKP<ÒTKEJXGTIN-QUVKCN 5GJTUEJÌP



.165  

.QV MGNVKUEJGT /ÒP\GP &CU .QV GPVJ·NV 5KNDGT WPF $TQP\GOÒP\GP W C 2T·IWPIGP FGT 1UVMGNVGP  

6GVTCFTCEJOG 6[R 2JKNKRR +++  FGT $QKGT -NGKPUKNDGT 6[R 4QUGNFQTH ++  WPF FGT PQTFICNNKUEJGP   5V·OOG+PVGTGUUCPVGU1DLGMV 5VÒEM5GJTUEJÌP



+PVGTGUUCPVGU .QV MGNVKUEJGT /ÒP\GP &WTQVTKIGU Õ5VCVGT XCP #TUFGNN  #WNGTEK 'DWTQXKEGU   Ô5VCVGT,CJTJWPFGTVX%JT 5VÒEM  5VÒEM5GJTUEJÌP



)4+'%*+5%*'/ª0<'0 *+52#0+#

56 Æ

55 Æ

57 Æ



$#4-+&'0“UX%JTI6CPKVMQRHNOKVJTGPMTCP\2HGTFGMQRHT50)%QR $TCWPITÒPG2CVKPCUGJTUEJÌP





“UX%JT-CTVJCIQPQXC %CTVCIGPC I6CPKVMQRHN*GNOOKV*GNO\KGTN$WTIQU 5GJTUEJÌP





#4'+%14#6#5 “#U  X %JT  I /·PPGTMQRH T FCXQT WPF FCJKPVGT LG GKP &GNRJKP   4GKVGTTOKV.CP\G$WTIQU 1NKXITÒPG2CVKPCIWVGUUGJTUEJÌP



58 Æ

59

1,5:1



#45'5#)7067/“3WCFTCPUX%JTI/WUEJGN&GNRJKPT$WTIQU  )TÒPG2CVKPCUGJTUEJÌP





$#45%70'5Õ&GPCTX%JTI/·PPGTMQRHT4GKVGTTOKV5EJYGTV$WTIQU (GKPG2CVKPCUGJTUEJÌPpXQT\ÒINKEJ



60 Æ 61 Æ

61 Æ



$'.+)+1/“6TKGPUX%JTI-QRHTOKV&KCFGO2HGTFURTKPIVT$WTIQU  )TÒPG2CVKPCUGJTUEJÌP





$+.$+.+5“#UX%JTI,ÒPINKPIUMQRHTOKV2GTNGPMGVVG4GKVGTTOKV.CP\G$WT IQU $TCWPG2CVKPCHCUVUGJTUEJÌP

 17


62

63 Æ



$1.5-#0Õ&GPCTX%JTI/·PPGTMQRHT4GKVGTTOKV.CP\G$WTIQU  #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC





“#U  X %JT  I /·PPGTMQRH T FCJKPVGT &GNRJKP4GKVGT T OKV .CP\G QDGP 5VGTP   $WTIQU )TÒPG2CVKPCUGJTUEJÌP



64 Æ

65 Æ



$745#7 “#U  X %JT  I /·PPGTMQRH T FCXQT &GNRJKP4GKVGT T OKV .CP\G   $WTIQU )TÒPDTCWPG2CVKPCHCUVUGJTUEJÌP





%'.5' “#U  X %JT  I /·PPGTMQRH T XQP FTGK &GNRJKPGP WOIGDGP4GKVGT T OKV   2CNOG$WTIQU 1NKXITÒPG2CVKPC4CPFHGJNGTUGJTUEJÌP



67 Æ

66 Æ

69 Æ

68 Æ



“5GOKUX%JTI/·PPGTMQRHTXQPFTGK&GNRJKPGPWOIGDGP2HGTFURTKPIVTFCTÒ DGT*CNDOQPF$WTIQU 1NKXITÒPG2CVKPCUGJTUEJÌP





“5GOKUX%JTI&TCRKGTVG$ÒUVGTFCJKPVGT&GNRJKP2HGTFURTKPIVTFCTÒDGT5VGTP $WTIQU )N·P\GPFGITÒPG2CVKPCUGJTUEJÌP





%106'4$+#%#4$+%# “#U  X %JT  I /·PPGTMQRH T FCXQT &GNRJKP4GKVGT T   OKV.CP\G$WTIQU $TCWPITÒPG2CVKPCUGJTUEJÌP





“#UX%JTI/·PPGTMQRHTFCXQT&GNRJKP4GKVGTTOKV.CP\G$WTIQU  $TCWPITÒPG2CVKPCUGJTUEJÌP



70 Æ

71 Æ

70 Æ



&#/#0+7 “#U  X %JT  I /·PPGTMQRH T FCXQT \YGK &GNRJKPG4GKVGT T OKV   .CP\G$WTIQU 1NKXITÒPG2CVKPCUGJTUEJÌP





'$7575 +DK\C  “U  ,CJTJWPFGTV X %JT  I 5VKGT N$GU X X OKV -GWNG WPF 5EJNCPIG   50)%QR )TÒPG2CVKPCUGJTUEJÌP



'DWUWU FCU JGWVKIG +DK\C JCV UGKPGP 0COGP 'DWUWU  +PUGN FGU $GU  XQP MCTVJCIKUEJGP -QNQPKUVGP GTJCNVGP FKG   FGP-WNVFGUWTURTÒPINKEJ·I[RVKUEJGP)QVVGU$GUGKPIGHÒJTVJCVVGP

18


73 Æ

72 Æ



'51 “#U  X %JT  I &TCRKGTVGT /·PPGTMQRH T FCXQT \YGK &GNRJKPG4GKVGT TOKV 2CNO\YGKI$WTIQU &WPMGNITÒPG2CVKPCUGJTUEJÌP





+%'5#0%1/ “#U  X %JT  I /·PPGTMQRH T FCXQT &GNRJKP4GKVGT T OKV   .CP\G$WTIQU )TÒPG2CVKPCHCUVXQT\ÒINKEJ



75 Æ

74 Æ



+.5'“&WRQPFKWU,CJTJWPFGTVX%JTI(KUEJNJTGT*CNDOQPF$WTIQU  1NKXITÒPG2CVKPCUGJTUEJÌP



+.6+46#“#UX%JTI/·PPGTMQRHTXQPFTGK&GNRJKPGPWOIGDGP4GKVGTTOKV 2CNO\YGKI$WTIQU )TÒPG2CVKPCUGJTUEJÌP

76 Æ

 

77 Æ



-'5'“6TKGPUX%JTI/·PPGTMQRHTFCJKPVGTXKGT9GTVMWIGNP2HGTFTFCTÒDGT XKGT9GTVMWIGNP$WTIQU )TÒPG2CVKPCUGJTUEJÌP





/#.#-# “5GOKU  X %JT  I 8WNMCPMQRH T FCJKPVGT <CPIG#EJVUVTCJNKIGT 5VGTP   $WTIQU 4)TÒPG2CVKPCIWVGUUGJTUEJÌP



78 Æ

79 Æ

80 Æ

81



1$7.%1“5GOKUX%JTI#FNGTUVGJVT5VKGTUVGJVT$WTIQU  &WPMNG2CVKPCUGJTUEJÌP





5#.&7+' “#U  X %JT  I /·PPGTMQRH T XQP FTGK &GNRJKPGP WOIGDGP4GKVGT T   OKV2CNO\YGKI$WTIQU 1NKXITÒPG2CVKPCHCUVUGJTUEJÌP





5'%#+5# “#U  X %JT  I /·PPGTMQRH T FCJKPVGT .ÌYG4GKVGT T FCJKPVGT   #FNGT$WTIQU $TCWPG2CVKPCUGJTUEJÌP





674+#57Õ&GPCTX%JTI/·PPGTMQRHT4GKVGTTOKV.CP\G$WTIQU  5GJTUEJÌP

 19


)#..+#

82

82

1,5:1

83

1,5:1

83

84

85

84

1,5:1



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86



88

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'ZGORNCTFGT5COONWPI$CTTQP#WMVKQP*KTUEJ/ÒPEJGP0T



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89 Æ



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90

91



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20




1,5:1 92 Æ

93

94

95

1,5:1





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'ZGORNCTFGT#WMVKQP&T$WUUQ2GWU0CEJH(TCPMHWTV0T



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#27.+#

96 Æ



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99

98

97 Æ



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 21


101

100



102

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103



104 Å

1,5:1

1,5:1

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106 105



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107 Å 1,5:1

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1,5:1



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108



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109 Æ

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110 1,5:1

1,5:1



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111



111 1,5:1



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112



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114

113

1,5:1

113



115



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 23


117 Å

116

118



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119





120



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DAIKUVOÌINKEJGTYGKUGFKG5KIPCVWTFGU5VGORGNUEJPGKFGTU

1,5:1



121

1,5:1

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122

123



124



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125

126

127



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Õ&KFTCEJOG  X %JT  I 2QUGKFQP IGJV T OKV &TGK\CEM5VKGT N 4WVVGT *KUVQTKC   0WOQTWO50)#05XGTINHH50)/ÒPEJGP  ªDGTFWTEJUEJPKVVNKEJGTJCNVGPGUCVVTCMVKXGUIWVIGRT·IVGUUGJTUEJÌPGU'ZGORNCT 

24


128

129

129



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130











131

132



134

133

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Õ&KFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO 5E[NNC OKV &TGK\CEM CNU   *GNO\KGT5VKGT UVÌ­V T KO #DUEJPKVV (KUEJ 4WVVGT *KUVQTKC 0WOQTWO  50) #05    50)/ÒPEJGP (CUVXQT\ÒINKEJGU'ZGORNCT



Õ&KFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO UVGKPUEJNGWFGTPFG 5E[NNC   CNU *GNO\KGT5VKGT UVÌ­V T QDGP /QPFUKEJGN KO #DUEJPKVV .ÌYGPMQRH T 4WVVGT *KUVQTKC 0W   OQTWOXCT50)#0550)/ÒPEJGP 5GNVGPG8CTKCPVG5GJTUEJÌPpXQT\ÒINKEJ



Õ&KFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO UVGKPUEJNGWFGTPFG 5E[NNC   CNU *GNO\KGT5VKGT UVÌ­V T KO #DUEJPKVV (CEMGN 4WVVGT *KUVQTKC 0WOQTWO  50) #05    50)/ÒPEJGP )WVGUUGJTUEJÌP



8'.+# *;'.'  Õ&KFTCEJOG  X %JT  I #VJGPCMQRH N OKV CVVKUEJGO *GNO   .QTDGGTCNU*GNO\KGT.ÌYGTUEJN·IV*KTUEJT4WVVGT*KUVQTKC0WOQTWO9KNNKCOU  5GJTUEJÌP



$4766+7/

135





1,5:1

136

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25


138 Æ





137

138 Æ

$4'66++ Õ&TCEJOG  X %JT  I &TCRKGTVG $ÒUVG FGT 0KMG T OKV &KCFGO FCJKPVGT   *CTRC(NW­IQVV UVGJV X X OKV <GRVGT UKEJ UGNDUV DGMT·P\GPF T 6J[OKCVGTKQP 4WVVGT *KUVQTKC   0WOQTWO5EJGW5 8QT\ÒINKEJUGJTUEJÌP



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139 Æ

141 Æ

140



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143

142

142 1,5:1



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26

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145

144

146



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147

148

147

1,5:1

149



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150

151

1,5:1

151



Õ&TCEJOG  X %JT  I &TGKHW­ N 4GKJGT&TGKHW­ KPEWU 4WVVGT *KUVQTKC 0WOQTWO   50)#0550)/ÒPEJGP 4-PCRRGT5EJTÌVNKPIUGJTUEJÌP





Õ1DQN  X %JT  I &TGKHW­+PEWU #FNGT HNKGIV T 4WVVGT *KUVQTKC 0WOQTWO    50)#0550)/ÒPEJGP 45VGORGNDTWEJCWHFGO4GXGTUUGJTUEJÌP



152

153

154



Õ&KFTCEJOG  X %JT  I #FNGT UVGJV N CWH -CRKVGNN&TGKHW­ N )GTUVGPMQTP 4WVVGT   *KUVQTKC0WOQTWOXCT50)#0550)/ÒPEJGP 5GJTUEJÌPGU'ZGORNCT





Õ5VCVGT  X %JT  I #FNGT UVGJV N OKV IGÌHHPGVGP (NÒIGNP CWH .QTDGGT\YGKI&TGKHW­   FCPGDGPD4WVVGT*KUVQTKC0WOQTWO50)#05HH50)/ÒPEJGPHH 5GJTUEJÌP





Õ5VCVGT  X %JT  I #FNGT UVGJV N OKV IGÌHHPGVGP (NÒIGNP CWH .QTDGGT\YGKI&TGKHW­   FCPGDGPD4WVVGT*KUVQTKC0WOQTWO50)#05XGTINHH50)/ÒPEJGPXGTINHH (CUVUGJTUEJÌP

 27


155 Æ

156



“UX%JTI*GTCMNGUMQRHKO.ÌYGPHGNNT#FNGTTKPFGP(·PIGP5EJNCPIG4WVVGT *KUVQTKC0WOQTWO50)#05XGTINHH50)/ÒPEJGP *GNNITÒPG2CVKPCUGJTUEJÌP





Õ5VCVGT'PFGFGU,CJTJWPFGTVUX%JTI#RQNNQMQRHTOKV.QTDGGTMTCP\&TGKHW­4WVVGT *KUVQTKC0WOQTWO50)#05 UVGORGNINGKEJ 50)/ÒPEJGP 5GJTUEJÌPGU'ZGORNCT



158 Æ

157

1,5:1

1,5:1



1,5:1

1,5:1

Õ6TKQDQN  X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNOOIKISTAS *GTCMNGU   UVGJVTCWH-GWNGIGUVÒV\V4WVVGT*KUVQTKC0WOQTWO50)#0550)/ÒPEJGP  4#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



&KGUGU 5VÒEM HGKGTV *GTCMNGU CNU FGP 1KMKUVGU FGP -QNQPKGITÒPFGT XQP -TQVQP *KGTOKV XGTNGIV -TQVQP UGKPG   )TÒPFWPI KP FKG O[VJKUEJG <GKV *GTCMNGU UQNN PCEJ FKGUGT )TÒPFWPIUUCIG FGP KVCNKUEJGP *GNFGP -TQVQP FGP   5QJPFGU2JCKCZWPF$TWFGTFGU2J·CMGPMÌPKIU#NMKPQQUIGVÌVGVWPF\WT5ÒJPG-TQVQPIGITÒPFGVJCDGP  0CEJ GKPGT CPFGTGP ªDGTNKGHGTWPI UQNN *GTCMNGU NGFKINKEJ FGT CP FGT 5VGNNG FGU )TCDGU FGU -TQVQP \W ITÒPFGPFGP   5VCFV GKPG ITQ­G <WMWPHV XQTJGTIGUCIV JCDGP FKGUG CDGT UQNNXQP/[UMGNNQUCWUFGOCEJ·KUEJGP4J[RCKIGITÒPFGV YQTFGP UGKP &KGUG ªDGTNKGHGTWPI HKPFGV UKEJ UEJQP DGK #PVKQEJQU XQP 5[TCMWU WPF J·NV UKEJ DKU KP FKG 5R·VCPVKMG   UQ UCIV 2[VJCIQTCU DGK +CODNKEJQU 8KV 2[VJ +:   \WO 4CV XQP -TQVQP 'WTG 5VCFV KUV FGT 5CIG PCEJ   IGITÒPFGV CNU FGO *GTCMNGU FC GT FKG 4KPFGT FWTEJ +VCNKGP VTKGD XQP .CMKPKQU 7PTGEJV IGUEJGJGP YCT *GTCMNGU   CDGT JCVVG -TQVQP FGT KJO DGKUVCPF DGK 0CEJV WPYKUUGPVNKEJ IGVÌVGV CNU Y·TG GT GKP (GKPF WPF FCPCEJ   XGTJGK­GP TKPIU WO FGUUGP )TCD YGTFG GKPG PCEJ -TQVQP DGPCPPVG 5VCFV IGITÒPFGV YGTFGP YGPP GT  *GTCMNGU    UGNDUVFGT7PUVGTDNKEJMGKVVGKNJCHVKIIGYQTFGPUGK



“UX%JTI/WUEJGN1EVQRWU4WVVGT*KUVQTKC0WOQTWO50)#0550) /ÒPEJGP 4&WPMGNITÒPG2CVKPCUGJTUEJÌP

161

159



160 Æ



Õ&KFTCEJOG  X %JT  I #FNGT UVGJV T CWH $NKV\ T -TCP\&TGKHW­ XQP 0KMG DG   MT·P\V4WVVGT*KUVQTKC0WOQTWO50)#0550)/ÒPEJGP 45GJTUEJÌP





07%'4+# “U  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\2HGTF UVGJV N FCTWPVGT   2GPVCITCOO4WVVGT*KUVQTKC0WOQTWO50)#05XGTINHH $TCWPG2CVKPCUGJTUEJÌP





4*')+10 Õ&TCEJOG  X %JT  I .ÌYGPMQRH X X+QMCUVGU UKV\V N OKV 5VCD   *GT\HGNFGT4WVVGT*KUVQTKC0WOQTWO 5VGORGNTKUUUGJTUEJÌP



+QMCUVGUKUVFGTO[VJKUEJG5VCFVITÒPFGTXQP4JGIKQP

163 Æ

162 Æ

164 Æ



“UX%JTI.ÌYGPOCUMGXX#RQNNQMQRHT4WVVGT*KUVQTKC0WOQTWO  )TÒPG2CVKPCUGJTUEJÌP





“UX%JTI#RQNNQMQRHNFCJKPVGT2NGMVTQP&TGKHW­4WVVGT*KUVQTKC0WOQTWO &WPMGNITÒPG2CVKPCXQT\ÒINKEJ





“UX%JTI#RQNNQMQRHNFCJKPVGT&GNRJKP&TGKHW­4WVVGT*KUVQTKC0WOQTWO 1NKXITÒPG2CVKPCIWVGUUGJTUEJÌP



28


165

166

166 1,5:1





6'4+0#Õ5VCVGTX%JTI(TCWGPMQRHTOKV#OR[ZKO1NKXGPMTCP\0KMGUKV\VT OKV-GT[MGKQP*QNNQYC[,GPMKPU4WVVGT*KUVQTKC0WOQTWO  -TCV\GTCWHFGT4ÒEMUGKVGUGJTUEJÌP



Õ5VCVGTX%JTI9GKDNKEJGT-QRHT0KMGUKV\VNOKV8QIGN*QNNQYC[,GPMKPU 4WVVGT*KUVQTKC0WOQTWO #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVJGTTNKEJGT2CVKPC 

5+%+.+#

167 Æ

167 Æ 1,5:1



168 Æ

168 Æ 1,5:1

70$'56+//6'/ª0<5666'“U,CJTJWPFGTVX%JTI*GNO-TCP\FCTWPVGT# 9QJNWPGFKGTV445EJYCT\G2CVKPCUGJTUEJÌP



&KG<WYGKUWPIGTHQNIVXGTUWEJUYGKUGWPFKUVXÌNNKIWPIGUKEJGTV



“U,CJTJWPFGTVP%JT ! I'TQUTGKVGVTCWH*CJP*GTCMNGUTKO-CORHOKVFGTMGTP[ PKVKUEJGP*KPFKP 9QJNWPGFKGTV8QPITQ­GT5GNVGPJGKV)TÒPG2CVKPCUGJTUEJÌP



&KG<WYGKUWPIPCEJ5K\KNKGPKUVPKEJVIGUKEJGTV  &KG *KTUEJMWJ XQP -GT[PGKC JCVVG GKP IQNFGPGU )GYGKJ WPF GJGTPG .·WHG &KG  #WHICDG FGU *GTCMNGU DGUVCPF   FCTKP FKG *KPFKP PCEJ /[MGPG \W DTKPIGP 'U FCWGTVG GKP ,CJT DKU *GTCMNGU UGKPG #WHICDG GTHÒNNVG FC UKG   CW­GTQTFGPVNKEJUEJYGTYCT

169 Æ

170 Æ

171

172

173



#);4+10 “U  X %JT  I ,WIGPFNKEJGT *GTCMNGUMQRH T#PFTQMGRJCNG 5VKGTRTQ   VQOGT%CNEKCVK50)#05#RRGPFKZ50)/ÒPEJGP 4)TÒPG2CVKPCUGJTUEJÌP





#+60#+ “U  X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNO2HGTF URTKPIV T   FCTÒDGT/%CNEKCVK50)#05#RRGPFKZ50)/ÒPEJGP &WPMNG2CVKPCUGJTUEJÌP





#-4#)#5 Õ&KFTCEJOG  X %JT  I #FNGT UVGJV N-TGDU 50) #05  50)   /ÒPEJGP 5GJTUEJÌP



#MTCICU YCT GKPG FQTKUEJG )TÒPFWPI 8QP $GIKPP CP RT·IVG FKG 5VCFV  YKG FKG OGKUVGP ITKGEJKUEJGP 5V·FVG   5K\KNKGPU  KO GWDÌKUEJCVVKUEJGP (W­ &GT #FNGT KUV FGT JGKNKIG 8QIGN FGU <GWU FGT -TGDU U[ODQNKUKGTV FGP   PCOGPIGDGPFGP(NW­IQVV#MTCICU



Õ&KFTCEJOGX%JTI#FNGTUVGJVN-TGDU50)#05HH50)/ÒPEJGPHH 8QT\ÒINKEJ





Õ&KFTCEJOGX%JTI#FNGTUVGJVN-TGDU50)#0550)/ÒPEJGP  -TCV\GTCWH8QTFGTUGKVGUGJTUEJÌP

 29


176

174

175



Õ&KFTCEJOGX%JTI#FNGTUVGJVT-TGDU50)#0550)/ÒPEJGP  5GJTUEJÌPXQT\ÒINKEJ





Õ&KFTCEJOG  X %JT  I #FNGT UVGJV T-TGDU WPVGP )GTUVGPMQTP 50) #05    50)/ÒPEJGP 5GJTUEJÌPpXQT\ÒINKEJ





Õ6GVTCFTCEJOG  X %JT  I #FNGT UVGJV N-TGDU 50) #05  UVGORGNINGKEJ    50)/ÒPEJGPXGTIN 4CPFCDURNKVVGTWPIGPUGJTUEJÌP



177 178

178



Õ.KVTC  X %JT  I #FNGT UVGJV N CWH KQPKUEJGO -CRKVGNN-TGDU 50) #05    50)/ÒPEJGP 5GJTUEJÌP



“6TKCUWOX%JTI#FNGT-TGDU%CNEKCVK50)#0550)/ÒPEJGP  &WPMNG2CVKPCUGJTUEJÌP

 

179

1,5:1



1,5:1

Õ*GOKFTCEJOG  X %JT  I #FNGT T CWH *CUGP-TGDU FCTWPVGT 2KUVTKZ N 50)   #0550)/ÒPEJGP 45GJTUEJÌP

180 Æ



181 Æ



“6GVTCU  X %JT  I #FNGT T CWH *CUGP-TGDU WPVGP (NW­MTGDU %CNEKCVK  50)   #0550)/ÒPEJGP &WPMGNITÒPG2CVKPCUGJTUEJÌP





“*GOKNKVTCX%JTI#FNGTTCWH*CUGP-TGDUQDGP9GKPDNCVVWPVGP(NW­MTGDU %CNEKCVK50)#0550)/ÒPEJGPHH )TÒPG2CVKPCUGJTUEJÌP



30




182

1,5:1

182

Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V.GPMGTKO#DUEJPKVVMQRHUVGJGPFG -TCDDG<YGK#FNGTTCWH*CUGP(TCPMG*KTOGT6H UVGORGNINGKEJ 4K\\Q6CX++5GNV OCP6JG'PITCXGTUQHVJG#MTCICPVKPG&GECFTCEJOUKP0%0T50)#0550)/ÒPEJGP 8QPITQ­GT5GNVGPJGKV#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT  #D EC  X %JT DGICPP #MTCICU OKV FGT #WURT·IWPI XQP &GMCFTCEJOGP  YQJN KO <WUCOOGPJCPI OKV FGP   -TKGIUXQTDGTGKVWPIGP IGIGP -CTVJCIQ WPF PKEJV YKG CWEJ XGTOWVGV YWTFG \WT (GKGT FGU 5KGIGU FGU 'ZCKPGVQU DGK   FGP QN[ORKUEJGP 5RKGNGP FGU ,CJTGU  X %JT &KG )TCXGWTG FGT &GMCFTCEJOGP UEJPKVVGP CWEJ 5VGORGN HÒT   6GVTCFTCEJOGP YKG WPUGT 5VÒEM &CU /QVKX FGT 8QTFGTUGKVG YWTFG FGP 2T·IWPIGP XQP 5[TCMWU FCU FGT 4ÒEMUGKVG   FGO #ICOGOPQP FGU #KUEJ[NQU GPVPQOOGP &CU 5VÒEM KUV WPUKIPKGTV FGT 4GXGTUUVGORGN UVCOOV LGFQEJ XQP   GKPGO-ÒPUVNGTFGTXQPX%JTHÒTFKG/ÒP\UV·VVGV·VKIYCTWPFX%JTGTPGWVGPICIKGTVYWTFG

183 Æ



184

1,5:1

2JKPVKCU  X %JT “U  X %JT  I <GWUMQRH N OKV .QTDGGTMTCP\#FNGT CWH   *CUGPN%CNEKCVK50)#05XGTINHH50)/ÒPEJGPXGTINHH  5EJYCT\G2CVKPCUGJTUEJÌP



2JKPVKCU MQPPVG PCEJ FGO 6QF FGU #ICVJQMNGU XQP 5[TCMWU FKG /CEJV KP #ITKIGPV ÒDGTPGJOGP WPF FKG 5VCFV XQP   FGTU[TCMWUCPKUEJGP&QOKPCP\DGHTGKGP



5VCFVÕ*CNDUEJGMGNX%JTI<GWUMQRHTOKV.QTDGGTMTCP\#FNGTUVGJVTT/QPQ ITCOOHÒTGD$WTPGVV'PPC*QCTF2N50)#0550)/ÒPEJGP  -N5EJTÌVNKPIUTK­XQT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI



&GT 6[R YWTFG Y·JTGPF FGT MCTVJCIKUEJGP $GUCV\WPI FGT 5VCFV KO <YGKVGP 2WPKUEJGP -TKGI IGRT·IV 5GKV    NKG­GPFKGTÌOKUEJGP5KGIGTFCPPFGPUGNDGP-ÒPUVNGT5VGORGNHÒT&GPCTGUEJPGKFGP XGTIN$WTPGVV'PPC*QCTF5 

1,5:1



185

1,5:1

)'.# Õ&KFTCEJOG  X %JT  I 4GKVGT T OKV .CP\G#PFTQMGRJCNG 5VKGTRTQVQOG T   ,GPMKPU 4ÒEMUGKVGNGKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ



)GNC JCVVG UGKPGP 0COGP XQO (NW­IQVV )GNCU YKG CWEJ 8GTIKN KP FGT #GPGKU +++   GTY·JPV KOOCPKUSWG   )GNC HNWXKK EQIPQOKPG FKEVC &KGUGT (NW­IQVV YKTF CWH FGP /ÒP\GP CNU OGPUEJGMÌRHKIGT 5VKGT FCTIGUVGNNV 2KPFCT  

2[VJ+ GTY·JPVGKPG5VCVWGFGU(NW­IQVVGUCNU5VKGT

186

187



Õ&KFTCEJOGX%JTI4GKVGTTOKV.CP\G#PFTQMGRJCNG5VKGTRTQVQOGT,GPMKPU 5GJTUEJÌP





Õ&KFTCEJOGX%JTI4GKVGTTOKV.CP\G#PFTQMGRJCNG5VKGTRTQVQOGT,GPMKPU 'VYCUHNGEMKIUGJTUEJÌP

 31


190

188

1,5:1

190

189



Õ&KFTCEJOGX%JTI4GKVGTTOKV.CP\G#PFTQMGRJCNG5VKGTRTQVQOGT,GPMKPU )WVGUUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#PFTQMGRJCNG 5VKGT   RTQVQOGT,GPMKPU -TCV\GTCWHFGT4ÒEMUGKVGUGJTUEJÌP





Õ.KVTC  X %JT  I #PFTQMGRJCNG 5VKGTRTQVQOG T8KGTURGKEJKIGU 4CF ,GPMKPU $    5GJTUEJÌP



192

191



Õ6GVTCFTCEJOGX%JTI3WCFTKICTFCJKPVGTKQPKUEJG5·WNGKO#DUEJPKVVJTG #PFTQMGRJCNG5VKGTRTQVQOGT,GPMKPU 4ÒEMUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌP





Õ6GVTCFTCEJOGX%JTI3WCFTKICTFCJKPVGTKQPKUEJG5·WNG#PFTQMGRJCNG5VKGT RTQVQOGT,GPMKPU (CUVUGJTUEJÌP



193

1,5:1

194

1,5:1



Õ.KVTCX%JTI2HGTFTFCTÒDGT-TCP\#PFTQMGRJCNG5VKGTRTQVQOGT,GPMKPU XGTIN .GKEJVIGYGNNVUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#PFTQMGRJCNG 5VKGT   RTQVQOGT,GPMKPU (CUVUGJTUEJÌP



196

195



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#PFTQMGRJCNG 5VKGT   RTQVQOGT,GPMKPU $TGKVGT(NCPUGJTUEJÌPXQT\ÒINKEJ 



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T FCTÒDGT -TCP\#PFTQMGRJCNG 5VKGTRTQVQ   OGTWPVGP8QIGN,GPMKPU 5GJTUEJÌP

198 Æ

197

198 Æ



Õ.KVTC  X %JT  I 4GKVGT N OKV 5EJKNF#PFTQMGRJCNG 5VKGTRTQVQOG T ,GPMKPU XGTIN    4UUVGORGNINGKEJ  -N-TCV\GTCWHFGO#XGTUUGJTUEJÌP



“6TKCUX%JTI5VKGTUVGJVN-QRHGKPGULWIGPFNKEJGP(NW­IQVVGUT,GPMKPU  )TÒPG2CVKPCIWVGUUGJTUEJÌP

32



 


199 Æ 201 200

200 1,5:1



“1PMKCX%JTI5VKGTUVGJVN-QRHGKPGULWIGPFNKEJGP(NW­IQVVGUT,GPMKPU  5EJYCT\G2CVKPCUGJTUEJÌP



*+/'4# Õ&TCEJOG  X %JT  I *CJP UVGJV N9KPFOÒJNGPHNÒIGNCTVKIGU +PEWUWO   -TCC[ )WVGUUGJTUEJÌP

 

&GT 0COG FGT EJCNMKFKUEJFQTKUEJGP /KUEJQNQPKG *KOGTCNGKVGVUKEJXQOXQO(NW­IQVV*KOGTCUJGT&KGUGPPKEJV ITKGEJKUEJGP 0COGP DTCEJVGP FKG )TKGEJGP OKV KJTGO hmhra 6CI  \WUCOOGP FCJGT GTUEJGKPV CWH WPUGTGT KO   UEJYGTGPCGIKPGVKUEJGP5VCPFCTFIGRT·IVGP&TCEJOGFGT*CJPFGT6CIGUXGTMÒPFGT



Õ&TCEJOGX%JTI*CJPUVGJVN9KPFOÒJNGPHNÒIGNCTVKIGU+PEWUWO-TCC[)TWRRG+8 5GJTUEJÌP

204

203 202



1,5:1

1,5:1

1,5:1

1,5:1



Õ&TCEJOGX%JTI*CJPUVGJVN9KPFOÒJNGPHNÒIGNCTVKIGU+PEWUWO-TCC[  5GJTUEJÌP





Õ1DQN  X %JT  I $·TVKIGT /·PPGTMQRH T OKV *GNO*GNO N 50) #05  50)   .NQ[F50)/ÒPEJGP 45GJTUEJÌPpXQT\ÒINKEJ





Õ*GOKQDQN  X %JT  I $·TVKIGT -QRH T-QTKPVJKUEJGT *GNO T 50) #05  50)   /ÒPEJGP 45GJTUEJÌP



205 Æ



207 Æ

206 Æ

“6GVTCU WO  X %JT  I 0CEMVGT 4GKVGT CWH <KGIG N OKV -GT[MGKQP WPF /WUEJGNJQTP   0KMGIGJVNOKV#RJNCUVQP%CNEKCVK50)#05#RRGPFKZ50)/ÒPEJGP  &WPMNG2CVKPCIWVGUUGJTUEJÌP





“1PMKC  X %JT  I 9GKDNKEJGT -QRH N 9GTVMWIGNP KP <YGKIGP %CNEKCVK  50)   #0550)/ÒPEJGP &WPMGNITÒPG2CVKPCXQT\ÒINKEJ





6*'4/#+ *+/'4'05+5 “U  X %JT  I *GTCMQRH T*GTCMNGUMQRH T %CNEKCVK    $TCWPG2CVKPCUGJTUEJÌP



 X %JT JCVVGP FKG -CTVJCIGT FKG CNVG 5VCFV *KOGTC XÌNNKI \GTUVÌTV 'KPKIG YGPKIG *KPVGTDNKGDGPG FWTHVGP UKEJ   PCJGFGTCNVGP5VCFVCPFGPJGK­GP3WGNNGPPKGFGTNCUUGP %KEGTQ8GTTGU++ 

208 Æ

1,5:1

209

1,5:1



“U PCEJ  X %JT  I *GTCMNGUMQRH KO .ÌYGPHGNN T6[EJG UVGJV N OKV 2CVGTC WPF (ÒNN   JQTP%CNEKCVK &WPMGNITÒPG2CVKPCUGJTUEJÌP





-#/#4+0# Õ.KVTC  X %JT  I +P -TCP\ 0KMG HNKGIV N FCXQT 5EJYCP#VJGPC   UVGJVNOKV*GNO5RGGTWPF5EJKNF9GUVGTOCTM,GPMKPU 5GJTUEJÌP



-COCTKPC YCT PCEJ #MTCK WPF -CUOGPCK FKG FTKVVG U[TCMWUCPKUEJG -QNQPKG 0CEJ GKPGT XGTNQTGPGP 5EJNCEJV IGIGP   FKG /WVVGTUVCFV YWTFG -COCTKPC  X %JT \GTUVÌTV 0CEJ FGO 9KGFGTCWHDCW  X %JT YWTFG UKG WO  X   %JTXQP)GNCYKGFGT\GTUVÌTVX%JTDGICPPFGT\YGKVG9KGFGTCWHDCW

33


210 Æ

211 Æ 212



“6GVTCU  X %JT  I #VJGPCMQRH N OKV CVVKUEJGO *GNO'WNG UVGJV N FCXQT 'KFGEJ   UG9GUVGTOCTM,GPMKPU &WPMGNITÒPG2CVKPCXQT\ÒINKEJ





“U  X %JT  I #VJGPCMQRH N OKV CVVKUEJGO *GNO2HGTF N KO #DUEJPKVV JTG 9G   UVGTOCTM,GPMKPU 5EJYCT\G2CVKPCUGJTUEJÌP





-#6#0' Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T#RQNNQMQRH T OKV .QTDGGT   MTCP\4K\\Q6CX:50)#0550)/ÒPEJGP -N5VGORGNHGJNGTUGJTUEJÌP



&KGUG5VÒEMGYWTFGPXQPFGP-CVCPCKGTPIGRT·IVPCEJFGOUKGX%JTFKGXQP*KGTQP++KP-CVCPGCPIGUKGFGN VGP5[TCMWUCPGTXGTVTKGDGPJCVVGPWPFKPKJTG5VCFV\WTÒEMIGMGJTVYCTGP

213

214

215



Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V.GPMGT#RQNNQMQRHTOKV.QT DGGTMTCP\4K\\Q6CX:+50)#0550)/ÒPEJGP 45GJTUEJÌP





Õ6GVTCFTCEJOGX%JTI3WCFTKICT#RQNNQMQRHTOKV.QTDGGTMTCP\4K\\Q6CX :50)#0550)/ÒPEJGP 5EJÌPpUGJTUEJÌP





Õ6GVTCFTCEJOGWOX%JTI#PFTQMGRJCNGT5VKGTTFCTÒDGT<YGKIKO#DUEJPKVV(KUEJ 0KMGKPNCPIGO%JKVQPIGJVNOKV6CGPKGWPVGP-#6#0#TPQNF$KWEEJK4CPFC\\Q*QCTF#05 054K\\QXGTIN6CX+:50)#05XGTIN 4(CUVXQT\ÒINKEJ  &GT5VKGTCWHFGT8QTFGTUGKVGXGTMÌTRGTVFGP(NW­IQVV#OGPCPQU

1,5:1



216

1,5:1

217

217

1,5:1

Õ.KVTCWOX%JTI5KNGPMQRHT)GHNÒIGNVGT$NKV\TIQT[VQUCTVKIGT)GIGPUVCPF$QGJ TKPIGT4GKJG+4GKJG++XGTIN.K #X 50)#0550)/ÒPEJGP 45GJTUEJÌP



&GT #XGTUUVGORGN  QHHGPUKEJVNKEJ GKP 9GTM FGU $TÒUUGNGT #KVPCOGKUVGTU  IGJÌTV \W $QGJTKPIGTU 4GKJG + FGT   4GXGTUUVGORGNOKVFGOIQT[VQUCTVKIGP)GIGPUVCPFJKPIGIGP\W$QGJTKPIGTU4GKJG++



Õ.KVTC  X %JT  I 5KNGPMQRH T)GHNÒIGNVGT $NKV\ QDGP KP GKPGT .CP\GPURKV\G GP   FGPF\YKUEJGP\YGK5EJKNFGP$QGJTKPIGT.K50)#0550)/ÒPEJGP 5GJTUEJÌP

1,5:1

218

1,5:1

1,5:1

219



1,5:1



Õ.KVTC  X %JT  I 5KNGPMQRH T)GHNÒIGNVGT $NKV\ QDGP KP GKPGT .CP\GPURKV\G GP   FGPF\YKUEJGP\YGK5EJKNFGP$QGJTKPIGT 4GKJG+++ 50)#0550)/ÒPEJGP 5GJTUEJÌP





Õ.KVTC  X %JT  I 5KNGPMQRH T)GHNÒIGNVGT $NKV\ \YKUEJGP \YGK 5EJKNFGP $QGJTKP   IGT4GKJG+++50)#0550)/ÒPEJGP 5GJTUEJÌP



34


222 Æ

220 1,5:1

221

1,5:1

1,5:1

1,5:1



Õ*GOKNKVTCX%JTI-QRHT)GHNÒIGNVGT$NKV\$QGJTKPIGTXGTIN*NHH-NGKP 50)#0550)/ÒPEJGP 445GJTUEJÌP





Õ.KVTCX%JTI5KNGPMQRHNOKV'HGWMTCP\)GHNÒIGNVGT$NKV\\YKUEJGP\YGK5EJKN FGP$QGJTKPIGT4GKJG+8XGTIN.K50)#0550)/ÒPEJGP 5GJTUEJÌP





“U,CJTJWPFGTVX%JTI#RQNNQMQRHNOKV.QTDGGTMTCP\#RJTQFKVG*[DNCKCUVGJVTOKV 8QIGN%CNEKCVK )TÒPG2CVKPCHCUVXQT\ÒINKEJ



224

223 Æ



1,5:1

-'0614+2#+“&GMQPMKQPX%JTI<GWUMQRHT)GHNÒIGNVGT$NKV\%CNEKCVK  )TÒPG2CVKPCUGJTUEJÌP



-GPVQTKRCK YCT GKPG 5VCFV FGT GKPJGKOKUEJGP 5KMWNGT 5KG RT·IVG CWUUEJNKG­NKEJ $TQP\GOÒP\GP KO 5VCPFCTF FGT   $TQP\G.KVTC 2HWPF 



.'106+01+ Õ&KFTCEJOG  X %JT  I 4GKVGT T.ÌYGPMQRH T XQP XKGT )GTUVGP   MÌTPGTP WOIGDGP 4K\\Q 6CX ::++  8U UVGORGNINGKEJ  50) #05  UVGORGNINGKEJ  50)   /ÒPEJGP 44#VVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT 

225



226

Õ6GVTCFTCEJOG  X %JT  I #RQNNQMQRH T.ÌYGPMQRH T XQP XKGT )GTUVGPMÌTPGTP   WOIGDGP4K\\Q6CX::+8 UVGORGNINGKEJ  5GJTUEJÌP



0WTKPFGTTGNCVKXMWT\GP5RCPPG\YKUEJGPWPFX%JTYCT.GQPVKPQKUGNDUUV·PFKI&GT4GXGTUFGU5VÒEMGU \GKIV CNU URTGEJGPFGU 9CRRGP GKPGP .ÌYGPMQRH WOIGDGP XQP )GTUVGPMÌTPGTP FKG CWH FGP )GVTGKFGTGKEJVWO FGT   %CORK.GQPVKPKJKPYGKUGP



Õ6GVTCFTCEJOG  X %JT  I #RQNNQMQRH T.ÌYGPMQRH T XQP XKGT )GTUVGPMÌTPGTP   WOIGDGP4K\\Q6CX::+++ #XGTUUVGORGNINGKEJ  (CUVUGJTUEJÌPUGJTUEJÌP



227 1,5:1



1,5:1

Õ6GVTCFTCEJOGX%JTI#RQNNQMQRHN.ÌYGPMQRHNXQPFTGK)GTUVGPMÌTPGTPWPF GKPGO$NCVVWOIGDGP4K\\Q6CX::+8 UVGORGNINGKEJ   48QT\ÒINKEJGU'ZGORNCTOKVUEJÌPGT6ÌPWPI



&KGUKUVFKGNGV\VG5KNDGTGOKUUKQPFGT5VCFV.GQPVKPKDGXQTUKGXQP5[TCMWUGTQDGTVYWTFG

35






1,5:1

Õ6GVTCFTCEJOGX%JTI#RQNNQMQRHN.ÌYGPMQRHNXQPFTGK)GTUVGPMÌTPGTPWPF GKPGO$NCVVWOIGDGP4K\\Q6CX::+8 UVGORGNINGKEJ   42T·IGUEJY·EJGPGVYCU*QTPUKNDGTHCUVUGJTUEJÌP



“6GVTCU  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\ N )GTUVGPMQTP&TGKHW­ \YK   UEJGP)GTUVGPMÌTPGTP%CNEKCVK &WPMNG2CVKPCHCUVXQT\ÒINKEJ



1,5:1



229 Æ

1,5:1

228

230

1,5:1

1,5:1

231

1,5:1

.10)#0' Õ.KVTC  X %JT  I *GTCMNGUMQRH KO .ÌYGPHGNN T-QRH GKPGU LWIGPF   NKEJGP(NW­IQVVGUT50)#05XGTIN50)/ÒPEJGP 445GJTUEJÌP



.QPICPGYCTGKPGMNGKPG5VCFVCO(NW­.QPICPWU 2QN[DKWU+ 



/'55#0# Õ.KVTC  X %JT  I .ÌYGPOCUMG X X'VJPKMQP %CNVCDKCPQ  FKGU   'ZGORNCTCDIGDKNFGV  48QT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI



&GTWTURTÒPINKEJG0COGFGT5VCFVYCT<CPMNGPCEJFGOUKEJGNHÌTOKIGP*CHGPFGP5VTCDQ 8+ WPF6JWM[FK FGU 8+ GTY·JPGP#PCZKNCUXQP4JGIKQPUGV\VGUKEJWOX%JTWPFUKGFGNVGWC/GUUGPKGTCPFCJGTFGT PGWG0COG/GUUCPC

232



234

233

Õ6GVTCFTCEJOGX%JTI/CWNVKGTDKICTKO#DUEJPKVV1NKXGPDNCVV*CUGT%CNVC DKCPQ (CUVUGJTUEJÌP



&GT *CUG GTUEJGKPV CWH FGP /ÒP\GP XQP /GUUCPC YGKN PCEJ #TKUVQVGNGU 2QNNWZ 8   #PCZKNCU FGP *CUGP KP   5K\KNKGPJGKOKUEJIGOCEJVJCV



Õ6GVTCFTCEJOG  X %JT  I /CWNVKGTDKIC T KO #DUEJPKVV $NCVV*CUG URTKPIV T   %CNVCDKCPQ !  5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I /CWNVKGTDKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV   $NCVV*CUGURTKPIVTFCTÒDGT%%CNVCDKCPQ 5GJTUEJÌP



235 1,5:1



36

1,5:1

Õ6GVTCFTCEJOG  X %JT  I #WTKIC UVGJV KP /CWNVKGTDKIC T KO #DUEJPKVV \YGK   &GNRJKPGIGIGPGKPCPFGT*CUGURTKPIVTÒDGT&GNRJKPT%CNVCDKCPQ  2TCEJVGZGORNCT45EJTÌVNKPIUHGJNGTCWHFGO4GXGTUXQT\ÒINKEJ 


237

236



Õ6GVTCFTCEJOG  X %JT  I /CWNVKGTDKIC N KO #DUEJPKVV \YGK &GNRJKPG*CUG N   FCTWPVGTJTGQDGP#FNGT%CNVCDKCPQ &4  44CPFHGJNGTUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I /CWNVKGTDKIC N 0KMG DGMT·P\V .GPMGT KO #DUEJPKVV   \YGK&GNRJKPG*CUGNFCTWPVGTJTG%CNVCDKCPQ 45GJTUEJÌPUEJÌP



239 Æ 240

238 Æ



/#/'46+01+ “3WCFTWRNC  X %JT /GUUCPC  I #TGUMQRH T OKV .QTDGGTMTCP\   #FNGTUVGJVNCWH$NKV\%CNEKCVK &WPMGNITÒPG2CVKPCUGJTUEJÌP



X%JTYWTFG/GUUCPCXQPECORCPKUEJGP5ÌNFPGTPFGP/COGTVKPGTP/CTU5ÌJPGPGTQDGTV



“U PCEJ  X %JT /GUUCPC  I #RJTQFKVGMQRH T-TKGIGT UVGJV N OKV 5RGGT WPF 5EJYGTV   FCXQT6TQRJ·G%CNEKCVK &WPMGNITÒPG2CVKPCUGJTUEJÌP





/14)#06+0#5KMGNKQVGPÕ.KVTGPX%JTI-QTGMQRHNOKVJTGPMTCP\WPF 5EJNGKGT0KMGKP3WCFTKICT$WTPGVV'PPC*QCTF2N5LÌSXKUV  44CPFHGJNGTWPF-QTTQUKQPUGJTUEJÌP



7PVGT *KGTQP ++ YCT 5[TCMWU TQOHTGWPFNKEJ  FKGU DGICPP UKEJ WPVGT *KGTQPU 'PMGN *KGTQP[OWU \W ·PFGTP FGT   WPVGT FGO 'KPHNW­ \YGKGT XQP *CPPKDCN KPUVTWKGTVGT -CTVJCIGT PCOGPU *KRRQMTCVGU WPF 'RKM[FGU UVCPF 0CEJ FGT   'TOQTFWPI FGU -ÌPKIU IGYCPP KP FGT HÒPHVGP 4GRWDNKM UEJNKG­NKEJ FKG CPVKTÌOKUEJG 2CTVGK FKG 1DGTJCPF WPF HCUV   ICP\5K\KNKGPOKV#WUPCJOG6CWTQOGPKQPUHQNIVG&GTMCTVJCIKUEJG)GPGTCN*KOKNEQPCJODCNF/QTICPVKPCGKP YQ GT XKGNG XQP FGP 4ÌOGTP \WTÒEMIGNCUUGPG /CEJVOKVVGN XQTHCPF &QTV FÒTHVGP FKG 2T·IWPIGP FGT 5KMGNKQVGP FKG   OKVFGP-CTVJCIGTPXGTDÒPFGVYCTGPGPVUVCPFGPUGKP

241



1,5:1

242

1,5:1

/16;# Õ&KFTCEJOG WO  X %JT  I 0CEMVGT 4GKVGT N0[ORJGPMQRH T XQP FTGK   &GNRJKPGPWOIGDGP,GPMKPU+ 44(GNFGTNGKEJVDGCTDGKVGVUGKVNKEJNGKEJVIGFTÒEMVUGJTUEJÌP



'ZGORNCTFGT5COONWPI$CTTQP#WMVKQP,*KTUEJ/ÒPEJGP0T



Õ.KVTCWOX%JTI9GKDNKEJGT-QRHHCUVXX-TGDU,GPMKPU+2N  445GJTUEJÌP



/QV[C CWH GKPGT MNGKPGP +PUGN CP FGT 9GUVMÒUVG 5K\KNKGPU IGNGIGP YCT GKPG MCTVJCIKUEJG 0KGFGTNCUUWPI &GT   0COGDGFGWVGVGVYC5RKPPGTGK'UYWTFGYQJNWTURTÒPINKEJ)CTPRTQFW\KGTV

1,5:1 243



244 Æ

1,5:1

2#014/15Õ6GVTCFTCEJOGX%JTI3WCFTKICN0KMGDGMT·P\V.GPMGT#TG VJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP,GPMKPU+ 5EJTÌVNKPIUTK­UGJTUEJÌP



2CPQTOQU FCU JGWVKIG 2CNGTOQ  YCT FKG ITÌ­VG MCTVJCIKUEJG 5VCFV CWH 5K\KNKGP +JT RJÌPK\KUEJGT 0COG NCWVGV   VTCPUMTKDKGTV<+<



“U  X %JT  I -QRH N OKV .QTDGGTMTCP\2HGTFGRTQVQOG T FCTWPVGT &GNRJKP   %CNEKCVK &WPMNG2CVKPCHCUVXQT\ÒINKEJ

 37


245

247

246



5')'56#Õ&KFTCEJOGWOX%JTI*WPFUVGJVN0[ORJGPMQRHT4K\\Q2N.:+ 4ÒEMUGKVGNGKEJVFG\GPVTKGTVOKPMQTTQFKGTVUGJTUEJÌP





5'.+075 Õ&KFTCEJOG WO  X %JT  I 'RRKEJDNCVV8KGNHCEJ IGVGKNVGU +PEWUWO 50)   #05XGTIN -N&TWEMUVGNNGCO4CPFIWVGUUGJTUEJÌP





Õ&KFTCEJOGWOX%JTI'RRKEJDNCVV8KGNHCEJIGVGKNVGU+PEWUWO50)#05  5GJTUEJÌP



&CU 'RRKEJDNCVV selinon  YCT FCU 9CJT\GKEJGP XQP 5GNKPWPV WPF ICD FGT 5VCFV CWEJ KJTGP 0COGP &CU   )GDKGV WO FKG /ÒPFWPI FGU (NWUUGU 5GNKPWU YCT UWORHKI WPF DQV UQOKV FKG KFGCNG )TWPFNCIG HÒT FGP #PDCW   FKGUGT 5GNNGTKGCTV &GT *CPFGN OKV FGO 'RRKEJ OCEJVG 5GNKPWU \W GKPGT YKEJVKIGP *CPFGNUUVCFV YQTCWU CWEJ UGKPG   #PPCJOG CNU 5[ODQN FGT 5VCFV TGUWNVKGTV &GO FGNRJKUEJGP #RQNNQP YGKJVGP UKG $ÒTIGT XQP 5GNKPWU GKP IQNFGPGU   'RRKEJDNCVV &KG $GFGWVWPI FGU 5GNNGTKGU YCT UQ ITQ­ FC­ FKGUGU 5[ODQN PQEJ KP FGT /KVVG FGU HÒPHVGP   ,CJTJWPFGTVUCNU$GK\GKEJGPCWH/ÒP\GPXQTMQOOVFKGCWHFGT4ÒEMUGKVGFGP(NW­IQVV5GNKPWU\GKIGP

248

249



Õ&KFTCEJOGWOX%JTI'RRKEJDNCVV8KGNHCEJIGVGKNVGU+PEWUWO50)#05XGTIN -N4CPFHGJNGTUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I#RQNNQWPF#TVGOKU HCUVICP\XGTFGEMV KP3WCFTKICT #RQNNQ OKV IGURCPPVGO $QIGP WPF CWHIGNGIVGO 2HGKN0CEMVGT (NW­IQVV OKV <YGKI UVGJV N WPF QRHGTV   ÒDGT #NVCT FCXQT *CJP N FCJKPVGT 'RRKEJDNCVV ÒDGT 5VKGT N CWH 2QFGUV 5EJYCDCEJGT  50) #05   XGTIN 45GJTUEJÌP



#WH FKGUGT /ÒP\G XQP 5GNKPWPV GTUEJGKPGP #RQNNQP WPF #TVGOKU KP GKPGO 8KGTIGURCPP #RQNNQP CNU $QIGPUEJÒV\G   WPF #TVGOKU CNU 9CIGPNGPMGTKP $GKFG UKPF 5EJWV\IQVVJGKVGP XQP /GICTC FGT /WVVGTUVCFV XQP 5GNKPWPV +P FKGUGT   (WPMVKQP VTGVGP UKG CWEJ KP FGT -QNQPKG CWH &GT *CJP U[ODQNKUKGTV GKPGP *GKNIQVV FGT \W FGP PCJJGP 3WGNNGP   IGJÌTVG#WHFGP/ÒP\GPXQP*KOGTCGTUEJGKPVGTKPFGTINGKEJGP(WPMVKQP

250

251

252



Õ6GVTCFTCEJOG  X %JT  I#RQNNQWPF#TVGOKU HCUVICP\XGTFGEMV KP3WCFTKICT #RQNNQ OKV IGURCPPVGO $QIGP WPF CWHIGNGIVGO 2HGKN0CEMVGT (NW­IQVV OKV <YGKI UVGJV N WPF QRHGTV   ÒDGT#NVCTFCXQT*CJPNFCJKPVGT'RRKEJDNCVVÒDGT5VKGTNCWH2QFGUV5EJYCDCEJGT50)#05 4#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 



Õ6GVTCFTCEJOG  X %JT  I#RQNNQWPF#TVGOKU HCUVICP\XGTFGEMV KP3WCFTKICT #RQNNQ OKV IGURCPPVGO $QIGP WPF CWHIGNGIVGO 2HGKN0CEMVGT (NW­IQVV OKV <YGKI UVGJV N WPF QRHGTV   ÒDGT#NVCTFCXQT*CJPNFCJKPVGT'RRKEJDNCVVÒDGT5VKGTNCWH2QFGUV5EJYCDCEJGT50)#05 4#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 



Õ6GVTCFTCEJOG  X %JT  I#RQNNQWPF#TVGOKU HCUVICP\XGTFGEMV KP3WCFTKICT #RQNNQ OKV IGURCPPVGO $QIGP WPF CWHIGNGIVGO 2HGKN0CEMVGT (NW­IQVV OKV <YGKI UVGJV N WPF QRHGTV   ÒDGT#NVCTFCXQT*CJPNFCJKPVGT'RRKEJDNCVVÒDGT5VKGTNCWH2QFGUV5EJYCDCEJGT50)#05 4.GKEJVMQTTQFKGTVHCUVUGJTUEJÌP

38




254 Æ



255 Æ

253

Õ6GVTCFTCEJOG  X %JT  I#RQNNQWPF#TVGOKU HCUVICP\XGTFGEMV KP3WCFTKICT #RQNNQ OKV IGURCPPVGO $QIGP WPF CWHIGNGIVGO 2HGKN0CEMVGT (NW­IQVV OKV <YGKI UVGJV N WPF QRHGTV   ÒDGT#NVCTFCXQT*CJPNFCJKPVGT'RRKEJDNCVVÒDGT5VKGTNCWH2QFGUV5EJYCDCEJGT50)#05 4-QTTQFKGTVUEJÌPUGJTUEJÌP “6GVTCU  X %JT  I -QRH GKPGU LWIGPFNKEJGP (NW­IQVVGU N'RRKEJDNCVV FCTWO FTGK   9GTVMWIGNP%CNEKCVK 5GJTUEJÌP “*GZCU  X %JT  I -QRH GKPGU LWIGPFNKEJGP (NW­IQVVGU T'RRKEJDNCVV \YKUEJGP   \YGK9GTVMWIGNP%CNEKCVK 5GJTUEJÌP

 



5;4#-75 Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG #TG   VJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT -N-TCV\GTCWHFGT8QTFGTUGKVGUGJTUEJÌP Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP

  

Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP Õ6GVTCFTCEJOGX%JTI3WCFTKICT0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌPpXQT\ÒINKEJ



262

  

1,5:1

262



   

261

260





259

258

257

256



263

1,5:1

263

264 1,5:1

Õ.KVTCX%JTI#TGVJWUCMQRHT8KGTURGKEJKIGU4CF$QGJTKPIGTXGTIN  5GJTUEJÌP Õ.KVTC  X %JT  I #TGVJWUCMQRH T8KGTURGKEJKIGU 4CF $QGJTKPIGT  )TWRRG +++   4GKJG:++F  5GJTUEJÌP Õ.KVTCX%JTI#TGVJWUCMQRHT8KGTURGKEJKIGU4CF$QGJTKPIGTXIN$  5GJTUEJÌP 8GTOWVNKEJKUVFCUXQTNKGIGPFG5VÒEMNGKEJVDCTDCTKUKGTV

 

264

   39


265

266



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT  8QTFGTUGKVGOKP5VGORGNDTWEJCVVTCMVKXGUXQNN\GPVTKGTVGUHCUVXQT\ÒINKEJGU'ZGORNCT 



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V .GPMGT KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT  5EJÌPG6ÌPWPIYKP\5EJTÌVNKPIUHGJNGTCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 

267

268

270

269



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT (CUVUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU    #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT 5GJTUEJÌP



272

271



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT  5GJTCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT 



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG KO #DUEJPKVV -GVQU   #TGVJWUCMQRHTXQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT .GKEJVMQTTQFKGTVUGJTUEJÌP

273

1,5:1

274



1,5:1



Õ6GVTCFTCEJOGX%JTI3WCFTKICN0KMGDGMT·P\V2HGTFG#TGVJWUCMQRHTXQP XKGT&GNRJKPGPWOIGDGP$QGJTKPIGT (GKPGT5VKNUGJTUEJÌPGU'ZGORNCT





Õ.KVTCX%JTI#TGVJWUCMQRHT1MVQRWU$QGJTKPIGT



40

5GJTUEJÌP


276

275

278

277



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#TGVJWUCMQRH T   XQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT *QTPUKNDGTRCVKPCUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#TGVJWUCMQRH T   XQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT -PCRRGT5EJTÌVNKPIUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC T 0KMG DGMT·P\V 2HGTFG#TGVJWUCMQRH T   XQPXKGT&GNRJKPGPWOIGDGP$QGJTKPIGT .GKEJVMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT DGKFUGKVKI UKIPKGTV XQP 'WOGPQU  I 3WCFTKIC N 0KMG DG   MT·P\V.GPMGT#TGVJWUCMQRHNXQPXKGT&GNRJKPGPWOIGDGP6WFGGT  4'VYCUMQTTQFKGTVUGJTUEJÌPGU'ZGORNCT



#WH FKGUGT /ÒP\G DGMT·P\V 0KMG FGP .GPMGT Y·JTGPF DKUJGT OGKUV FKG 2HGTFG DGMT·P\V YWTFGP 'U \GKIV UKEJ   FC­ UKEJ FCU $GYW­VUGKP FGT /GPUEJGP IG·PFGTV JCV 0KEJV OGJT FGT 5KGI KP 1N[ORKC KUV DGYWPFGTPUYGTV   UQPFGTP FGT 5KGIGT &KGUG +PFKXKFWCNKUKGTWPI HKPFGV CWEJ FCTKP #WUFTWEM FC­ FKG 5VGORGN PWP XQP FGP -ÒPUVNGTP   UKIPKGTVYGTFGP

281 Æ 280

279



Õ6GVTCFTCEJOG  X %JT  I 3WCFTKIC N 0KMG DGMT·P\V .GPMGT KO #DUEJPKVV JTG   #TGVJWUCMQRHNXQPXKGT&GNRJKPGPWOIGDGP*CCTKP5RJGPFQPG6WFGGT (CUVUGJTUEJÌP





Õ6GVTCFTCEJOGX%JTUKIPKGTVXQP'WMNGKFCUI3WCFTKICN0KMGDGMT·P\V.GPMGT KO #DUEJPKVV JTG#TGVJWUCMQRH N XQP XKGT &GNRJKPGP WOIGDGP *CCT KP #OR[Z WPF 5RJGPFQPG   6WFGGT 9KP\2TÒHGKPJKGDCO4CPFUGJTUEJÌP



“6GVTCU PCEJ  X %JT  I #TGVJWUCMQRH T \YKUEJGP \YGK &GNRJKPGP1MVQRWU WOIGDGP   XQPFTGK9GTVMWIGNP%CNEKCVK 5GNVGPKPFKGUGT'TJCNVWPI6KGHITÒPG2CVKPCXQT\ÒINKEJ





282 Æ

1,5:1

282 Æ

283 Æ

284 Æ



“UX%JTI#TGVJWUCMQRHN4CFKPFGP9KPMGNP'VJPKMQPWPF\YGK&GNRJKPG%CNEKCVK )TÒPG2CVKPCUGJTUEJÌP





“*GOKNKVTCX%JTI#TGVJWUCMQRHN8KGTIGVGKNVGUYKPFOÒJNGPHNÒIGNCTVKIGU+PEWUWOKO <GPVTWOKPXGTVKGHVGO4WPFUVTCJNKIGT5VGTP%CNEKCVK &WPMGNITÒPG2CVKPCUGJTUEJÌP





“*GOKNKVTCX%JTI#TGVJWUCMQRHNFCJKPVGT 5KIPCVWT! '8KGTIGVGKNVGUYKPFOÒJNGP HNÒIGNCTVKIGU+PEWUWOKO<GPVTWOKPXGTVKGHVGO4WPFCEJVUVTCJNKIGT5VGTP%CNEKCVK  )TÒPG2CVKPCUGJTUEJÌP

 41


285

285 1,5:1



£&GMCFTCEJOG  X %JT UKIPKGTV XQP 'WCKPGVQU  I 3WCFTKIC KO )CNQRR N FGT   .GPMGT XQP HNKGIGPFGT 0KMG DGMT·P\V UVTGEMV FGP 6TGKDUVCD YGKV XQT KO #DUEJPKVV 9CHHGPITWRRG   DGUVGJGPF CWU 5EJKNF 2CP\GT $GKPUEJKGPGP WPF *GNO#TGVJWUCMQRH N XQP XKGT &GNRJKPGP WOIG   DGP)CNNCVKP%:+++48+ #VVTCMVKXGU'ZGORNCTIWVGUUGJTUEJÌP  &KG GTUVGP /ÒP\GP KP 5K\KNKGP YWTFGP EC  X %JT IGRT·IV 7PUGT 5VÒEM GKP &GMCFTCEJOQP  &TCEJOCK    UVCOOV CWU FGT MNCUUKUEJGP 2GTKQFG EC  X %JT FKG CNU $NÒVG\GKV FGT UK\KNKUEJGP /ÒP\RT·IWPI IKNV #D   GVYC  X %JT DGICPPGP FKG 5VGORGNUEJPGKFGT KJTG /ÒP\GP \W UKIPKGTGP &KG \YGK DGTÒJOVGUVGP 5VGO   RGNUEJPGKFGTCWUFGT<GKVWOX%JTUKPF-KOQPWPF'WCKPGVQUFGTFCUXQTNKGIGPFG5VÒEMIGUVCNVGVJCV/CP MCPPUKEJFCTÒDGTUVTGKVGPYGNEJGTFKGUGTDGKFGPJQEJDGICDVGP-ÒPUVNGTFGTDGFGWVGPFGTGKUV)-,GPMKPU %QKPU QH )TGGM 5KEKN[ 5   UEJ·V\V LGFGPHCNNU FKG 9GTMG FGU 'WCKPGVQU JÌJGT GKP CNU FKG FGU -KOQP WPF WPUGT   JGTTNKEJGU5VÒEMURTKEJVHÒTUKEJ9CTGPCWHFGTGTUVGPU[TCMWUCPKUEJGP&GMCFTCEJOGFGODGTÒJOVGP&GOCTGVGKQP FKG 2HGTFG FGT 3WCFTKIC PQEJ KP TWJKIGO 5EJTGKVGP FCTIGUVGNNV UQ D·WOGP UKG UKEJ CWH WPUGTGO 5VÒEM   VGORGTCOGPVXQNN CWH &GP #TGVJWUCMQRH FGT 4ÒEMUGKVG JCV 'WCKPGVQU DKU KPU HGKPUVG &GVCKN IGUVCNVGV 5GNDUV FKG   MQPXGPVKQPGNNFCTIGUVGNNVGP&GNRJKPGFKGFGP-QRHWOIGDGPYKTMGPJKGTFWTEJKJTGCU[OOGVTKUEJG#PQTFPWPIPGW DGNGDVWPFGTJÌJGPFKGNGDGPFKIG5RCPPWPIFGU$KNFGU&KG9CHHGPKP8GTDKPFWPIOKVFGO9QTVaqla 2TGKUG KO #DUEJPKVV FGT 8QTFGTUGKVG GKPKIGT &GMCFTCEJOGP UKPF XGTOWVNKEJ GKP *KPYGKU FCTCWH FC­ FKGUG 2T·IWPI CPN·­NKEJ   GKPGU 5KGIGU FGT 5[TCMWUCPGT GPVUVCPFGP KUV +O ,CJTG  X %JT GTITKHH 5[TCMWU KO -TKGI \YKUEJGP 5GNKPWU WPF   5GIGUVC2CTVGKHÒT5GNKPWU5GIGUVCYCPFVGUKEJFCTCWHJKPOKVFGT$KVVGWOOKNKV·TKUEJG7PVGTUVÒV\WPICP#VJGP&KG PWP\YKUEJGP5[TCMWUWPF#VJGPCWUDTGEJGPFGPMTKGIGTKUEJGP*CPFNWPIGPGPFGVGPOKVGKPGO5KGIFGT5[TCMWUCPGT KO,CJTGX%JTCO(NW­#UUKPCTQU<WT'TKPPGTWPICPFKGUGP5KGIUVKHVGVGPFKG5[TCMWUCPGTFKGCUUKPCTKUEJGP5RKGNG

286



Õ&GMCFTCEJOGX%JT5VGORGNXQP'WCKPGVQU WPUKIPKGTV I3WCFTKICKO)CNQRRN FGT .GPMGT XQP HNKGIGPFGT 0KMG DGMT·P\V UVTGEMV FGP 6TGKDUVCD YGKV XQT KO #DUEJPKVV 9CHHGP    ITWRRG DGUVGJGPF CWU 5EJKNF 2CP\GT $GKPUEJKGPGP WPF *GNO#TGVJWUCMQRH N XQP XKGT &GNRJKPGP   WOIGDGPFCJKPVGT/WUEJGN)CNNCVKP(++4:+ !  'VYCUHNCWGT8QTFGTUGKVGPUVGORGNUGJTUEJÌP 

287 Æ

288 289 Æ



“6GVTCUPCEJX%JTI#TGVJWUCMQRHHCUVXX1EVQRWU%CNEKCVK  &WPMGNITÒPG2CVKPCUGJTUEJÌP





Õ*GOKFTCEJOG WO  X %JT  I #VJGPCMQRH HCUV X X OKV CVVKUEJGO *GNO XQP XKGT &GN   RJKPGP WOIGDGP3WCFTKIC N 0KMG DGMT·P\V .GPMGT KO #DUEJPKVV \YGK &GNRJKPG 50) #05    50)/ÒPEJGP 5GJTUEJÌPHCUVUGJTUEJÌP



“&TCEJOG PCEJ  X %JT  I #VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO5GGUVGTP \YKUEJGP   \YGK&GNRJKPGP%CNEKCVK &WPMGNITÒPG2CVKPCOKPMQTTQFKGTVUGJTUEJÌP



 42


291 Æ

290 Æ



“&TCEJOG PCEJ  X %JT  I #VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO5GGUVGTP \YKUEJGP   \YGK&GNRJKPGP%CNEKCVK &WPMNG2CVKPCHCUVUGJTUEJÌP





&KQP  X %JT “U  I -QRH FGU <GWU 'NGWVJGTKQU T OKV .QTDGGTMTCP\$NKV\ T #F   NGT%CNEKCVK )TÒPG2CVKPCHCUVXQT\ÒINKEJ



293 292

292

1,5:1



294

1,5:1

1,5:1

6KOQNGQPX%JTÕ*GOKFTCEJOGI#VJGPCMQRHHCUVXXOKVCVVKUEJGO*GNOXQP &GNRJKPGPWOIGDGP4GKVGTTFCJKPVGT5VGTPWPFJTG50)#0550)/ÒPEJGP  -N&TWEMUVGNNGUGJTUEJÌP





Õ .KVTGP  I 9GKDNKEJGT &QRRGNMQRH T \YGK &GNRJKPG2HGTF URTKPIV T 50) #05    50)/ÒPEJGP (CUVUGJTUEJÌP





Õ.KVTCI#TGVJWUCMQRHNTP1MVQRWU50)#05XCT50)/ÒPEJGP

295



296

297

298

 445GJTUEJÌP



299

4GRWDNKM  X %JT Õ5VCVGT I#VJGPCMQRHTOKVMQTKPVJKUEJGO*GNOFCJKPVGT&TGK \CEM2GICUWUHNKGIVN%CNEKCVK2GICUK 'VYCU(WPFDGNCIIWVGUUGJTUEJÌP



/ÌINKEJGTYGKUGYWTFGFCU5VÒEMCWEJWPVGT6KOQNGQPIGRT·IV



#ICVJQMNGU  X %JT Õ5VCVGT  X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO   *GNO )TGKH CNU *GNO\KGT2GICUWU HNKGIV N FCTWPVGT 6TKUMGNKU %CNEKCVK 2GICUK  (TCPMG*KTOGT   6H (GKPGTJGNNGPKUVKUEJGT5VKNXQT\ÒINKEJ





Õ6GVTCFTCEJOGX%JTI#TGVJWUCMQRHNXQPFTGK&GNRJKPGPWOIGDGP3WCFTKICN QDGP6TKUMGNKU50)#0550)/ÒPEJGPXGTIN .GKEJVMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT  I 2GTUGRJQPGMQRH T0KMG T GTTKEJVGV 6TQRJ·G WPVGP N   6TKUMGNKU50)#0550)/ÒPEJGP 8QT\ÒINKEJGU2TCEJVGZGORNCTOKVJGTTNKEJGT6ÌPWPI 



Õ6GVTCFTCEJOG  X %JT  I 2GTUGRJQPGMQRH T0KMG T GTTKEJVGV 6TQRJ·G WPVGP N   6TKUMGNKU50)#0550)/ÒPEJGP 4CPFHGJNGTUGJTUEJÌP

 43


300 Å

301 Å 302 Æ

1,5:1

1,5:1

1,5:1

1,5:1



Ô2GPVCFTCEJOG WO  X %JT  I 2GTUGRJQPGMQRH N5VKGT N 50) #05  50) /ÒP   EJGP 445GJTUEJÌPpXQT\ÒINKEJ 



Ô&KFTCEJOG  X %JT  I 5VKGTRTQVQOG N UVQ­GPFJTG 50) #05 #RRGPFKZ    50)/ÒPEJGP 445GJTUEJÌP  'ZGORNCTFGT5COONWPI.WFYKI#WMVKQP0WOKUOCVKEC#TU%NCUUKEC<ÒTKEJ0T



“UI#VJGPCMQRHTOKVMQTKPVJKUEJGO*GNO4GKVGTTOKV.CP\G%CNEKCVK  &WPMNG2CVKPCIWVGUUGJTUEJÌP

303 Æ

 

304 Æ

1,5:1

“UI-QTGMQRHNOKVJTGPMTCP\$KICT%CNEKCVK “UI-QTGMQRHNOKVJTGPMTCP\$KICT%CNEKCVK

(CUVXQT\ÒINKEJ )TÒPG2CVKPCUGJTUEJÌP

305 Æ

306 Æ



 

307 Æ



“UI#TVGOKUMQRHTÒDGTFGT5EJWNVGT-ÌEJGT)GHNÒIGNVGT$NKV\%CNEKCVK  &WPMGNITÒPG2CVKPCUGJTUEJÌP





“UI#TVGOKUMQRHTÒDGTFGT5EJWNVGT-ÌEJGT)GHNÒIGNVGT$NKV\%CNEKCVK  5EJYCT\G2CVKPCUGJTUEJÌP





“UI*GTCMNGUMQRHTFCJKPVGT$QIGP.ÌYGTFCTÒDGT-GWNGKO#DUEJPKVV(CEMGN%CNEKCVK &WPMNG2CVKPCUGJTUEJÌP

1,5:1

308 Æ

1,5:1



309 Æ



“UI#RQNNQMQRHNOKV.QTDGGTMTCP\*WPFUKV\VNWPFDNKEMVCWH5EJNCPIG\WTÒEM%CNEKCVK 4&WPMNG2CVKPCUGJTUEJÌP





*KMGVCUX%JT“UI<GWUMQRHT#FNGTCWH$NKV\N%CNEKCVK  )TÒPpTQVG2CVKPCHCUVXQT\ÒINKEJ



310 Æ



311 Æ

2[TTJQUX%JT“UI2JVJKCMQRHNOKV5EJNGKGTFCJKPVGT'HGWDNCVV$NKV\%CNEKCVK )TÒPG2CVKPCUGJTUEJÌP



2JVJKCFKG6QEJVGTFGU6JGUUCNGTU/GPQPWPF)CVVKPFGU-ÌPKIU#KCMKFGUXQP'RKTWUYCTFKG/WVVGTFGU2[TTJQU

 44

*KGTQP ++  X %JT “U  I -QRH N OKV &KCFGO FCJKPVGT -TCP\4GKVGT T OKV 5RGGT   WPVGP/QPQITCOO%CNEKCVK )TÒPG2CVKPCHCUVXQT\ÒINKEJ




312 Æ

313 Æ



“UI-QTGMQRHNOKVJTGPMTCP\FCJKPVGT$WMTCPKQP5VKGTUVÌ­VNFCTÒDGT-GWNG%CNEKCVK &WPMNG2CVKPCUGJTUEJÌP



“UI-QTGMQRHNOKVJTGPMTCP\5VKGTUVÌ­VNFCTÒDGT-GWNG%CNEKCVK  &WPMGNITÒPG2CVKPCUGJTUEJÌPXQT\ÒINKEJ

 

315

314



 HÒT 2JKNKUVKU Õ .KVTGP  I 8GTUEJNGKGTVGT -QRH N FCJKPVGT 5VGTP0KMG KP 3WCFTKIC  T   QDGP 5VGTP T - $WTPGVV 'PPC JQCTF KP 504    8U UVGORGNINGKEJ  50) #05   

UVGORGNINGKEJ 50)/ÒPEJGP UVGORGNINGKEJ  5GJTUEJÌP





Õ .KVTGP  I 8GTUEJNGKGTVGT -QRH N FCJKPVGT JTG0KMG KP 3WCFTKIC T QDGP -+ WPVGP   JTG$WTPGVV'PPCJQCTFKP50450)#0550)/ÒPEJGP )WVGUUGJTUEJÌP



316 Æ

1,5:1

318 Å

1,5:1

317 Æ



4GRWDNKMX%JT“UI#RQNNQMQRHNOKV.QTDGGTMTCP\&TGKHW­%CNEKCVK  &WPMNG2CVKPCHCUVXQT\ÒINKEJ





“UI#RQNNQMQRHTOKV.QTDGGTMTCP\FCJKPVGT/QPFUKEJGN&TGKHW­%CNEKCVK  &WPMNG2CVKPCHCUVXQT\ÒINKEJ





6#741/'0+7/ Ô6GVTCFTCEJOG PCEJ  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\   &TGKHW­50)#0550)/ÒPEJGP 5GJTUEJÌP 

319



320

321

322

270+'4 Õ6GVTCFTCEJOG  X %JT .CIGTOÒP\UV·VVG  I 2GTUGRJQPGMQRH T FCXQT   6J[OKCVGTKQP2HGTFTFCJKPVGT&CVVGNRCNOGFCXQT%CFWEGWUWPF0KMG,GPMKPU+++  4'VYCU(WPFDGNCICWHFGT4ÒEMUGKVGIWVGUUGJTUEJÌP



&KG&CVVGNRCNOGJGK­VITKGEJKUEJfo/inicUKGKUVJKGTCNU#PURKGNWPICWHFKGRJQGPK\KUEJG*GTMWPHVFGT-CTVJCIGT\W XGTUVGJGP



Õ6GVTCFTCEJOGX%JT.CIGTOÒP\UV·VVGI2GTUGRJQPGMQRHNXQPXKGT&GNRJKPGP WOIGDGP2HGTFTFCJKPVGT&CVVGNRCNOG,GPMKPU+++ 4'VYCU(WPFDGNCIIWVGUUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT .CIGTOÒP\UV·VVG  I #TGVJWUCMQRH N XQP FTGK &GNRJKPGP   WOIGDGP2HGTFGMQRHNFCJKPVGT2CNOGFCTWPVGT/KPRWPKUEJGT5EJTKHV,GPMKPU+++  .GKEJVG-TCV\GTWPF5EJTÌVNKPIUHGJNGTHCUVUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT.CIGTOÒP\UV·VVGI#TGVJWUCMQRHN2HGTFUVGJVTXQT2CN OG,GPMKPUXGTIN+++ -TCV\GTOKPDGTKGDGPUGJTUEJÌP





45


324

323



326

325

Õ6GVTCFTCEJOG  X %JT 4CUEJ /GNSCTV  -GRJCNQKFKQP !   I 3WCFTKIC T 0KMG   DGMT·P\V.GPMGT9GKDNKEJGT-QRHTXQPXKGT&GNRJKPGPWOIGDGP,GPMKPU+  (GKPGT5VKNMN-TCV\GTIWVGUUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT4CUEJ/GNSCTV -GRJCNQKFKQP! I3WCFTKICT0KMGDG MT·P\V.GPMGT9GKDNKEJGT-QRHNXQPXKGT&GNRJKPGPWOIGDGP,GPMKPU+ 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP/ÒP\<GPVTWO-ÌNP0T  4CUEJ /GNSCTV  *CWRV FGU *GTCMNGU  IKNV ÒDNKEJGTYGKUG CNU RWPKUEJG $G\GKEJPWPI GKPGT 5VCFV CWH 5K\KNKGP OÌI   NKEJGTYGKUG -GRJCNQKFKQP  .GQ /KNFGPDGTI \YGKHGNV FKGU CP WPF J·NV 4CUEJ /GNSCTV HÒT FGP 0COGP GKPGT MCTVJC   IKUEJGP +PUVKVWVKQP OÌINKEJGTYGKUG GKPGT /KNKV·TGKPJGKV  UKGJG /KNFGPDGTI 45/.346 KP 2TKEG$WTPGVV$NCPF   'UUC[UKPJQPQWTQH4QDGTV%CTUQPCPF-GPPGVJ,GPMKPU.QPFQP5H



'ZGORNCTFGT#WMVKQP/ÒP\<GPVTWO-ÌNP0T





Õ6GVTCFTCEJOG  X %JT 4CUEJ /GNSCTV  -GRJCNQKFKQP !   I 3WCFTKIC T 0KMG   DGMT·P\V.GPMGT9GKDNKEJGT-QRHNXQPFTGK&GNRJKPGPWOIGDGP,GPMKPU+  .GKEJVG-TCV\GTHCUVUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT4CUEJ/GNSCTV -GRJCNQKFKQP! I3WCFTKICT0KMGDG MT·P\V.GPMGT2GTUGRJQPGMQRHTXQP&GNRJKPGPWOIGDGP,GPMKPU+ 9KP\)TCHHKVKUGJTUEJÌP



327

328

331 Æ

329

330



Õ6GVTCFTCEJOG  X %JT .CIGTOÒP\UV·VVG  I #TGVJWUCMQRH N XQP XKGT &GNRJKPGP   WOIGDGP2HGTFGMQRHNFCJKPVGT2CNOG,GPMKPU+++  -NGKPG5EJTÌVNKPIUTKUUGCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 



Õ6GVTCFTCEJOG  X %JT .CIGTOÒP\UV·VVG  I *GTCMNGUMQRH T KO .ÌYGPHGNN2HGT   FGMQRHNFCXQT-GWNGFCJKPVGT2CNOG,GPMKPU+8 /KPMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG WO  X %JT /*5$/ 3W·UVQTGP/ÒP\UV·VVG   I *GTCMNGUMQRH T KO   .ÌYGPHGNN2HGTFGMQRHNFCJKPVGT2CNOG,GPMKPU+8 5GJTUEJÌPpXQT\ÒINKEJ





Õ6GVTCFTCEJOG WO  X %JT /*5$/ 3W·UVQTGP/ÒP\UV·VVG   I *GTCMNGUMQRH T KO   .ÌYGPHGNN2HGTFGMQRHNFCJKPVGT2CNOG,GPMKPU+8 5GJTUEJÌPGU'ZGORNCT





.+2#4# “*GOKNKVTC  X %JT  I *GRJCKUVQU UKV\V T OKV *COOGT WPF -CPVJCTQU   5GEJU9GTVMWIGNP%CNEKCVK 5GNVGPKPFKGUGT'TJCNVWPI&WPMGNITÒPG2CVKPCHCUVXQT\ÒINKEJ



46


+05'.0<9+5%*'0#(4+-#70&5+<+.+'0

332 Æ

1,5:1



333 Æ

1,5:1

/'.+6# “3WCFTCPU  X %JT  I -QRH FGT #UVCTVG T OKV 5EJNGKGT9KFFGTMQRH T FC   TWPVGTFKGRWPKUEJGP$WEJUVCDGP#NGRJ0WP0WP%QNGKTQKP0% )TÒPG2CVKPCUGJTUEJÌP



&KGUGU5VÒEMIGRT·IVWPVGTFGTTÌOKUEJGP*GTTUEJCHVÒDGT/CNVCFCVKGTV%QNGKTQWCCWHITWPFFGU)GYKEJVUKPFKG <GKVFGU$WPFGUIGPQUUGPMTKGIGU&KG/ÒP\GVT·IVYKGCNNGOCNVGUKUEJGP)GRT·IGLGPGT<GKVCWUUEJNKG­NKEJTGNKIKÌUG &CTUVGNNWPIGP CWH FGO #XGTU FGP -QRH FGT )ÌVVKP #UVCTVG CWH FGO 4GXGTU FGP -QRH FGU FGT #UVCTVG DGUQPFGTU   J·WHKIIGQRHGTVGP9KFFGTU&KGRWPKUEJGP.GVVGTPCWHFGT4ÒEMUGKVGIGDGPFGPCNVGP0COGPFGT+PUGN)JQPCPCP



“3WCFTCPU  X %JT  I -QRH FGT #UVCTVG T OKV 5EJNGKGT9KFFGTMQRH T FCTWPVGT FKG   RWPKUEJGP$WEJUVCDGP#NGRJ0WP0WP%QNGKTQKP0% &WPMNG2CVKPCUGJTUEJÌP



+..;4+%7/

334



#21..10+# Õ&GPCT  ,CJTJWPFGTV X %JT /CIKUVTCV #PFTQP /ÒP\OGKUVGT 6KOGP 5QJP FGU   #PFTQ    I #RQNNQMQRH N&TGK 0[ORJGP VCP\GP WO FCU (GWGT FGU 0[ORJCKQPU /CKGT KP   0< 445GJTUEJÌP

1,5:1





335 1,5:1

&#/#56+10 Õ6GVTCFTCEJOG  X %JT /CIKUVTCV -CMKQ  I #RQNNQMQRH N&TGK   HW­/C[ FKGU'ZGORNCTCDIGDKNFGV  448QT\ÒINKEJGU2TCEJVGZGORNCTOKVHGKPGT2CVKPC  'ZGORNCT FGT 5COONWPI .QEMGVV #WMVKQP )NGPFKPKPI .QPFQP XQO  0T  WPF FGT #WMVKQP #TU   %NCUUKEC.W\GTP0T

338 336

337 1,5:1



&;44*#%*+7/ Õ5VCVGT  X %JT  I -WJ T U·WIV -CND#NMKPQQUI·TVGP KO   #DUEJPKVV-GWNG/CKGTKP0< #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





Õ5VCVGT  X %JT  I -WJ N U·WIV -CND#NMKPQQUI·TVGP KO #DUEJPKVV -GWNG /CKGT   KP0< #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC





Õ&TCEJOG  X %JT  I *GTCMNGUMQRH KO .ÌYGPHGNN N2GICUWU HNKGIV T /CKGT KP 0<   XGTINHH 45GJTUEJÌP

 47


/1'5+#

339

340

341



+56415Õ&TCEJOG,CJTJWPFGTVX%JTI<YGK-ÌRHGXXIGIGPGKPCPFGTXGTUGV\V5GG CFNGTCWH&GNRJKPNWPVGP#T+#/0) &G\GPVTKGTVHCUVXQT\ÒINKEJ





Õ&TCEJOG  ,CJTJWPFGTV X %JT  I <YGK -ÌRHG X X IGIGPGKPCPFGT XGTUGV\V5GGCFNGT CWH    &GNRJKPNWPVGPAPT+#/0)XGTIN 5GJTUEJÌP





Õ&TCEJOG  ,CJTJWPFGTV X %JT  I <YGK -ÌRHG X X IGIGPGKPCPFGT XGTUGV\V5GGCFNGT CWH   &GNRJKPNWPVGPDI#/0)XGTIN 5GJTUEJÌP



342 343 Å

344 Å

1,5:1

1,5:1



Õ*GOKQDQN,CJTJWPFGTVX%JTI<YGK-ÌRHGIGIGPGKPCPFGTXGTUGV\V5GGCFNGTCWH&GNRJKPN #/0) 5GJTUGNVGPGU0QOKPCN&TWEMUVGNNGCWHFGO4GXGTUUVGORGNHTKUEJXQT\ÒINKEJ





-#..#6+5Ô5VCVGTX%JTI&KCFGOKGTVGT-QRHFGUXGTIÌVVNKEJVGP#NGZCPFGTTOKV #OOQPUJQTP#VJGPC0KMGRJQTQUUKV\VNFCTWPVGT&TGK\CEMOKV&GNRJKPGP#/0)  #VVTCMVKXGUXQT\ÒINKEJGU'ZGORNCT



&GT-QRHFGT8QTFGTUGKVG\GKIVFKG<ÒIG/KVJTCFCVGU8+UQYKGUKGXQPUGKPGPMNGKPCUKCVKUEJGP6GVTCFTCEJOGPDG MCPPVUKPF&KGUG)QNFRT·IWPIUVGJVKO<WUCOOGPJCPIOKVFGO$GHTGKWPIUMTKGI/KVJTCFCVGU8+IGIGPFKG4ÌOGT



Ô5VCVGTX%JTI&KCFGOKGTVGT-QRHFGUXGTIÌVVNKEJVGP#NGZCPFGTTOKV#OOQPUJQTP #VJGPC0KMGRJQTQUUKV\VNFCTWPVGT&TGK\CEMOKV&GNRJKPGP#/0) (CUVXQT\ÒINKEJ

345 Æ

1,5:1



346 Å

1,5:1



“U  ,CJTJWPFGTV P %JT  I &TCRKGTVG $ÒUVG FGT #VJGPC T OKV MQTKPVJKUEJGO *GNO WPF   #GIKU5EJKNF\YKUEJGP-ÌEJGTWPF-GWNG#/0)XCT &WPMNG2CVKPCXQT\ÒINKEJ





61/+5 Ô5VCVGT  X %JT  I &KCFGOKGTVGT -QRH FGU XGTIÌVVNKEJVGP #NGZCPFGT T OKV   #OOQPUJQTP#VJGPC0KMGRJQTQUUKV\VN#/0) 8QT\ÒINKEJ



&KGUG5VÒEMGNKG­/KVJTCFCVGU8+XQP2QPVQUY·JTGPFFGU/KVJTCFCVKUEJGP-TKGIGURT·IGP

5%;6*+#

347 Å

347 Å 1,5:1



48

2#06+-#2#+10Ô5VCVGTX%JTI2CPMQRHNOKV'HGWMTCP\)TGKHNOKV5RGGTKO 5EJPCDGNCWHJTG&KVVTKEJ(TCPMG*KTOGT6HQDGP50)$/  /KP-TCV\GTMN4CPFHGJNGTXQT\ÒINKEJ




349 Å

348 Æ



%JCTCURGU  ,CJTJWPFGTV X %JT “U  I -ÌRHG FGT &KQUMWTGP T#FNGT CWH $NKV\ T 50)   $/ &WPMNG2CVKPCUGJTUEJÌP



&GT 5M[VJGPMÌPKI %JCTCURGU JGTTUEJVG KO PQTFYGUVNKEJGP 5EJYCT\OGGTIGDKGV 5GKPG /ÒP\GP UKPF XGTOWVNKEJ CNU   #WHVTCIUCTDGKVGPKPGKPGT)TKGEJGPUVCFVJGTIGUVGNNVYQTFGP



-QUQP EC  X %JT Ô5VCVGT  X %JT 1NDKC  I /CIKUVTCV UEJTGKVGV N \YKUEJGP   \YGK.KMVQTGPFCXQT/QPQITCOO#FNGTNOKV-TCP\WPF<GRVGT42%#  2TCEJVGZGORNCT5VGORGNINCP\



&KGUG KPVGTGUUCPVG)QNFOÒP\GKUVUGKVDGMCPPVCNU'TCUOWUXQP4QVVGTFCOUKG\WGTMN·TGPXGTUWEJVG'UH·NNV UQHQTV CWH FC­ FKGUGT /ÒP\V[R TÌOKUEJG &GPCTG FGT UR·VGP 4GRWDNKM PCEJCJOV &KG 8QTFGTUGKVG KUV PCEJ GKPGO   &GPCT IGUVCNVGV FGP / +WPKWU $TWVWU  X %JT \WT 'TKPPGTWPI CP FKG 8GTVTGKDWPI FGT 6CTSWKPKGT FWTEJ UGKPGP   8QTHCJTGP . +WPKWU $TWVWU RT·IGP NKG­ %TCYHQTF   &KG 4ÒEMUGKVG JCV GKPGP &GPCT FGU 3 2QORQPKWU   4WHWU \WO 8QTDKNF IGRT·IV  X %JT %TCYHQTF   &KGUG 0CEJCJOWPI TÌOKUEJTGRWDNKMCPKUEJGT /ÒP\GP   IGUEJCJ PKEJV \WH·NNKI 5Q JCV OCP NCPIG CPIGPQOOGP FC­ -QUQP 8GTDÒPFGVGT FGU %CGUCT/ÌTFGTU $TWVWU KO   $ÒTIGTMTKGI IGIGP /CTE #PVQP WPF 1EVCXKCP #WIWUVWU  YCT -QUQP FGT UGKPGP 0COGPU\WI CWH FKG 8QTFGTUGKVG   WPUGTGT /ÒP\G RT·IGP NKG­ YWTFG NCPIG CNU -ÌPKI FGT 6JTCMGT CPIGUGJGP /CZ XQP $CJTHGNFV URTCEJ XQP GKPGO   &CMGTMÌPKI -QUQP KP $GTNKPGT /ÒP\DN·VVGT   -QUQP YWTFG CDGT CWEJ HÒT FKG 5E[VJGP KP #PURTWEJ   IGPQOOGP &KG 8GTDKPFWPI \W FGP &CMGTP FGO JGWVKIGP 4WO·PKGP IGPCWGT 5KGDGPDÒTIGP  JCV 1 +NKGUEW   GTCTDGKVGV KP 3WCFGTPK 6KEKPGUK   &CU CWH GKPKIGP 5VÒEMGP CWH FGT 8QTFGTUGKVG \W HKPFGPFG /QPQITCOO NKGUV   +NKGUEW WPUGTGT /GKPWPI PCEJ \WVTGHHGPF CNU $# HÒT BASILEUS -ÌPKI  Y·JTGPF CPFGTG GU CNU $4 HÒT $TWVWU   \W FGWVGP XGTUWEJV JCDGP &CU 0QOKPCN OKV GKPGO &WTEJUEJPKVVUIGYKEJV XQP  I KUV UKEJGT MGKP TÌOKUEJGT   #WTGWU UQPFGTP GKP ITKGEJKUEJGT )QNFUVCVGT &KG /ÒP\UV·VVG 1NDKC XGTDKTIV UKEJ YQJN PKEJV KP FGO /QPQITCOO   YKG *GCF WPF CPFGTG INCWDVGP UQPFGTP UKG GTIKDV UKEJ CWU FGO 4ÒEMUGKVGPV[R FGT PKEJV PWT FGP 4WHWU&GPCT   \WO8QTDKNFJCVUQPFGTPCWEJ\W1NDKCRC­V

352 Å

351 Å

350 Å



Ô5VCVGT  X %JT 1NDKC  I /CIKUVTCV UEJTGKVGV N \YKUEJGP \YGK .KMVQTGP FCXQT /QPQ   ITCOO#FNGTNOKV-TCP\WPF<GRVGT42%# 2T·IGUEJY·EJGXQT\ÒINKEJpUVGORGNHTKUEJ





Ô5VCVGT  X %JT 1NDKC  I /CIKUVTCV UEJTGKVGV N \YKUEJGP \YGK .KMVQTGP FCXQT /QPQ   ITCOO#FNGTNOKV-TCP\WPF<GRVGT42%#  $TGKVGUXQNN\GPVTKGTVGU2TCEJVGZGORNCTXQT\ÒINKEJpUVGORGNHTKUEJ





Ô5VCVGT  X %JT 1NDKC  I /CIKUVTCV UEJTGKVGV N \YKUEJGP \YGK .KMVQTGP FCXQT /QPQ   ITCOO#FNGTNOKV-TCP\WPF<GRVGT42%# 8QT\ÒINKEJ



6*4#%+#

353

354

355

356

1,5:1 1,5:1



#$&'4#Õ1DQNX%JTI)TGKHUKV\VN8KGTIGVGKNVGU+PEWUWO/C[  5GJTUEJÌP





Õ6GVTQDQNX%JT/CIKUVTCV-NGCPVKFGUI)TGKHUKV\VN5VKGTMQRHT/C[  .GKEJVFG\GPVTKGTVUGJTUEJÌP





Õ6GVTQDQNX%JT/CIKUVTCV2TQVGUI)TGKHUKV\VN#RQNNQMQRHN/C[  .GKEJVFG\GPVTKGTV4ÒEMUGKVGOKV*QTPUKNDGTDGFGEMVUGJTUEJÌP





Õ&TCEJOG  X %JT /CIKUVTCV 4QOPGOQP  I )TGKH UKV\V N-CPVJCTQU T 'HGWDNCVV   /C[ #2  4.GKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ

 49


357

359

358

360



Õ&TCEJOG  X %JT /CIKUVTCV 4QOPGOQP  I )TGKH UKV\V N-CPVJCTQU T 'HGWDNCVV   /C[ -NGKPG#DURNKVVGTWPIGPCWHFGO#XGTUUGJTUEJÌP





Õ&TCEJOG  X %JT /CIKUVTCV 2JKNCKQU  I )TGKHUKV\VN*GTOGUUVGJVTOKV5VCDT #UVTCICN/C[ 4ÒEMUGKVGNGKEJVMQTTQFKGTVXQT\ÒINKEJUGJTUEJÌP





Õ&TCEJOG  X %JT /CIKUVTCV 2JKNCKQU  I )TGKHUKV\VN*GTOGUUVGJVTOKV5VCDT #UVTCICN/C[ 5GJTUEJÌP





Õ&TCEJOGX%JT/CIKUVTCV/QNRCIQTGUI)TGKHUKV\VN&KQP[UQUMQRHT/C[ 'VYCU*QTPUKNDGTUGJTUEJÌP



362 361

1,5:1

363

1,5:1



Õ6GVTCFTCEJOG  X %JT /CIKUVTCV &KQP[UCFGU  I )TGKH UKV\V N#RQNNQMQRH T OKV   .QTDGGTMTCP\/C[ 5GJTUEJÌP





#+015 Õ&KQDQN  X %JT  I *GTOGUMQRH T OKV 2GVCUQU<KGIG T FCXQT UVKNKUKGTVG   9GKPTCPMG/C[XGTIN #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





#21..10+# 2106+%# Õ&TCEJOG WO  X %JT  I #PMGT T (NW­MTGDU8KGTIGVGKN   VGU+PEWUWOKPFGP9KPMGNP&GNRJKPG50)$/XGTIN 45GJTUEJÌP



364

1,5:1

1,5:1

365 Æ



Õ&TCEJOGWOX%JTI/GFWUGPMQRHXX#PMGTT(NW­MTGDU50)$/  )WVGUUGJTUEJÌP





$+<;#“U,CJTJWPFGTVP%JTI<GWUMQRHT5VCFVCPUKEJV/QWUJOQX  44&WPMNG2CVKPCUGJTUEJÌP



367 Å

366



$;<#06+10 Õ6GVTCFTCEJOG  X %JT  I 5VKGT UVGJV N CWH &GNRJKP8KGTIGVGKNVGU   IGRWPMVGVGU+PEWUWO50)$/ 5GJTUEJÌPGU'ZGORNCT





Ô5VCVGT OKV 0COGP FGU .[UKOCEJQU PCEJ  X %JT  I #NGZCPFGTMQRH T OKV &KCFGO WPF   #OOQPUJQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV &TGK\CEM /ÒNNGT    50)%QR 5GJTUEJÌP



369

368



 50

1,5:1

1,5:1

Õ6GVTCFTCEJOG OKV 0COGP FGU .[UKOCEJQU PCEJ  X %JT  I #NGZCPFGTMQRH T OKV &KC   FGO WPF #OOQPUJQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV &TGK\CEM   /ÒNNGTXGTIN50)%QR 5GJTUEJÌP



&+-#+# Õ6TKJGOKQDQN  X %JT  I *CJP UVGJV T FCTÒDGT Q+P +PEWUWO *GTCM   NGUMQRHKO.ÌYGPHGNNT/C[6JG%QKPCIGQH&KMCKCD[#DFGTC 5GJTUEJÌP




370

1,5:1

370

371

371

1,5:1



Õ6TKJGOKQDQN  X %JT  I *CJP UVGJV T+P +PEWUWO *GTCMNGUMQRH KO .ÌYGPHGNN T   /C[6JG%QKPCIGQH&KMCKCD[#DFGTC -QTTQFKGTVHCUVUGJTUEJÌP



/#410'+# Õ&TCEJOG  X %JT  I 2HGTFGRTQVQOG N8KGTIGVGKNVGU +PEWUWO   5EJÌPGTV)GKUU FKGU'ZGORNCT  448QT\ÒINKEJ 



'ZGORNCTFGT#WMVKQP.GW<ÒTKEJ0TFGT#WMVKQP/ÒP\GPWPF/GFCKNNGP#)$CUGNFGT #WMVKQP.GW<ÒTKEJ0TFGT#WMVKQP.GW<ÒTKEJ0TFGT5COONWPI%QOVG%JCPFQP FG $TKCKNNGU #WMVKQP $QWTIG[ 2CTKU XQO  ,WPK  0T  FGT 5COONWPI #NNCVKPK #WMVKQP #TU %NCUUKEC   :+++)GPH0TUQYKGFGT5COONWPI9GDGT0T GTYQTDGPXQP.CODTQU 

373



374

372

Õ5VCVGT  X %JT /CIKUVTCV *GTQDQWNQU  I 2HGTF URTKPIV N9GKPUVQEM N 'HGWDNCVV   5EJÌPGTV)GKUUXGTIN  -N4CPFHGJNGTCVVTCMVKXGU'ZGORNCTOKVHGKPGT2CVKPCHCUVXQT\ÒINKEJ





Õ6TKQDQNX%JTI2HGTFGRTQVQOGN9GKPUVQEM5EJÌPGTV)GKUUXGTIN  5GJTUEJÌP





Õ6TKQDQNX%JTI2HGTFGRTQVQOGN9GKPUVQEMN-CPVJCTQU5EJÌPGTV)GKUU #XGTUNMQTTQFKGTVUGJTUEJÌP



1,5:1

375

376

1,5:1



Õ6TKQDQNX%JTI2HGTFGRTQVQOGN9GKPUVQEM5EJÌPGTV)GKUUXGTINHH  5GJTUEJÌP





Õ6TKQDQNX%JTI2HGTFGRTQVQOGN9GKPUVQEMN4J[VQP5EJÌPGTV)GKUU  5GJTUEJÌP



377

379

378

379



Õ6TKQDQN  X %JT  I 2HGTFGRTQVQOG N9GKPUVQEM T 'HGWDNCVV 5EJÌPGTV)GKUU     #XGTUOKPMQTTQFKGTVHCUVXQT\ÒINKEJ





Õ6TKQDQNX%JTI2HGTFGRTQVQOGN9GKPUVQEMN-CPVJCTQU5EJÌPGTV)GKUU 5GJTUEJÌPpXQT\ÒINKEJ





/'5'/$4+#Õ6GVTCFTCEJOG#NGZCPFTGKGT<GKV/KVJTCFCVGU8+X%JTI*GTCM NGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQUUKV\VN2TKEGXGTIN#5EJWNVGPKP)0   5 -N5VGORGNTK­XQT\ÒINKEJ



8QT <GWU DGHKPFGP UKEJ \YGK /QPQITCOOG GKPGU MQOOV CWH 2T·IWPIGP XQP /GUGODTKC XQT GKPGU KP 1FGUUQU  

2TKEG 7PVGTFGO5KV\KUVMGKP$GK\GKEJGP

51


380

381



1&'5515 Õ6GVTCFTCEJOG #NGZCPFTGKGT   X %JT  I *GTCMNGUMQRH KO.ÌYGPHGNNT <GWU#GVQRJQTQUUKV\VN2TKEG 8QT\ÒINKEJ



Õ6GVTCFTCEJOG #NGZCPFTGKGT  X%JTI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQUUKV\VN2TKEG )WVGUUGJTUEJÌP



&CU5VÒEMYWTFGY·JTGPFFGT*GTTUEJCHV/KVJTCFCVGU8+XQP2QPVWUIGRT·IV



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

382

385

384

383

386

387



6*#515 Õ5VCVGT  X %JT  I 5CV[T XGTUEJNGRRV 0[ORJG8KGTIGVGKNVGU +PEWUWO   50)%QR 5GJTUEJÌP





Õ5VCVGTX%JTI5CV[TXGTUEJNGRRV0[ORJG8KGTIGVGKNVGU+PEWUWO50)%QR 5GJTUEJÌP





Õ5VCVGTX%JTI5CV[TXGTUEJNGRRV0[ORJG8KGTIGVGKNVGU+PEWUWO50)%QR 5GJTUEJÌP





Õ5VCVGTX%JTI5CV[TXGTUEJNGRRV0[ORJG8KGTIGVGKNVGU+PEWUWO50)%QR -N-TCV\GTWPF2WP\GCWHFGO4GXGTUUGJTUEJÌP





Õ5VCVGT  X %JT  I 5CV[T XGTUEJNGRRV 0[ORJG8KGTIGVGKNVGU +PEWUWO 50) %QR   XGTIN 5GJTUEJÌP





Õ5VCVGT  X %JT  I 5CV[T XGTUEJNGRRV 0[ORJG WPVGP Q8KGTIGVGKNVGU +PEWUWO   50)%QR 5GJTUEJÌP



388

389

1,5:1

389



Õ&KQDQN  X %JT  I 5CV[T GKNV T8KGTIGVGKNVGU +PEWUWO 50) %QR  9CIIQPGT   4QUGP%QNN (CUVUGJTUEJÌP





Õ*GOKQDQNX%JTI0[ORJGPMQRHN&GNRJKPN-NGKP50)%QR 5GJTUEJÌP



390

391



Õ6GVTCFTCEJOGPCEJX%JTI&KQP[UQUMQRHT*GTCMNGUUVGJVNOKV-GWNGWPF.ÌYGP HGNN50)%QRXGTIN (CUVXQT\ÒINKEJ





Õ6GVTCFTCEJOGPCEJX%JTI&KQP[UQUMQRHT*GTCMNGUUVGJVNOKV-GWNGWPF.ÌYGP HGNN50)%QRXGTIN 8QT\ÒINKEJGU'ZGORNCT



52


392







-¤0+)4'+%* .[UKOCEJQU  X %JT Õ&TCEJOG PCEJ #NGZCPFGT6[R  X %JT   -QNQRJQP  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQRJQTQU UKV\V N FCXQT .ÌYGPRTQVQOG   ÒDGT*CNDOQPFWPVGTFGO6JTQP2GPVCITCOO6JQORUQPKP'UUC[U4QDKPUQP (CUVXQT\ÒINKEJ



Õ6GVTCFTCEJOG PCEJ #NGZCPFGT6[R  X %JT -QNQRJQP  I *GTCMNGUMQRH KO .Ì   YGPHGNN T<GWU #GVQRJQTQU UKV\V N FCXQT .ÌYGPRTQVQOG ÒDGT *CNDOQPF WPVGT FGO 6JTQP 2GPVC   ITCOO6JQORUQPKP'UUC[U4QDKPUQP #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



Õ&TCEJOG  X %JT /CIPGUKC  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT&TGK\CEM6JQORUQPKP'UUC[U4QDKPUQP 8QT\ÒINKEJ



395









396



398

397

Õ6GVTCFTCEJOG PCEJ  X %JT -KQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV -ÌEJGT WPF /QPQITCOO /ÒNNGT    XGTIN50)$GTT[50)%QRXGTIN6JQORUQPKP'UUC[U4QDKPUQP 8QT\ÒINKEJ



Õ6GVTCFTCEJOG PCEJ  X %JT -KQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO WPF -GWNG KO #DUEJPKVV -ÌEJGT WPF /QPQITCOO   /ÒNNGT50)$GTT[50)%QR6JQORUQPKP'UUC[U4QDKPUQP  #XGTUOKPMQTTQFKGTVHCUVXQT\ÒINKEJ



Õ6GVTCFTCEJOG PCEJ  X %JT -KQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO WPF -GWNG KO #DUEJPKVV -ÌEJGT WPF /QPQITCOO   /ÒNNGT50)$GTT[50)%QR6JQORUQPKP'UUC[U4QDKPUQP 8QT\ÒINKEJ



Õ6GVTCFTCEJOG PCEJ  X %JT -KQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO WPF -GWNG KO #DUEJPKVV -ÌEJGT !  WPF /QPQ   ITCOO/ÒNNGT50)$GTT[50)%QR6JQORUQPKP'UUC[U4QDKPUQP 5GJTUEJÌP



399



394

393

400

Õ6GVTCFTCEJOG PCEJ  X %JT -KQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT/QPQITCOOWPF-GWNGKO#DUEJPKVV-ÌEJGTWPF/QPQITCOO/ÒN NGT50)$GTT[50)%QR50)(KV\YKNNKCO .GKEJVGT&QRRGNUEJNCIIWVGUUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT.CORUCMQUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV *CNDOQPF 6JQORUQP KP 'UUC[U   4QDKPUQP 9KP\KIGT5EJTÌVNKPIUHGJNGTCWHFGO4GXGTUCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT

 53


402

401



Õ6GVTCFTCEJOGX%JT.CORUCMQUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV *CNDOQPF 6JQORUQP KP 'UUC[U   4QDKPUQP $TGKVGT(NCPUGJTUEJÌP



0CEJFGO GT IGOGKPUCO OKV 5GNGWMQU + 0KMCVQT KP FGT 5EJNCEJV DGK +RUQU ÒDGT #PVKIQPQU /QPQRJVCNOQU IGUKGIV   JCVVG DGUGV\VG .[UKOCEJQU -NGKPCUKGP DKU \WO 6CWTQU 5Q HKGNGP KJO CWEJ FKG )TKGEJGPUV·FVG FGT -ÒUVGPTGIKQP KP   FKG*CPFYKG-KQU.CORUCMQU/CIPGUKCWPFKO+PPGTP5CTFGKU



Õ6GVTCFTCEJOGX%JT.CORUCMQUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT /QPQITCOO KO #DUEJPKVV *CNDOQPF 6JQORUQP KP 'UUC[U   4QDKPUQP 5GJTUEJÌP

403









404



406

405

Õ6GVTCFTCEJOGX%JT.CORUCMQUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT *GTOG WPF /QPQITCOO 6JQORUQP KP 'UUC[U 4QDKPUQP    5GJTUEJÌP



Õ6GVTCFTCEJOGX%JT/CIPGUKCCF/CGCPFTWOI#NGZCPFGTMQRHTOKV&KCFGO WPF #OOQPUJQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT (CEMGN KO #DUEJPKVV /·CPFGT 6JQORUQP KP   'UUC[U4QDKPUQP #VVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT



Õ6GVTCFTCEJOGX%JT/CIPGUKCCF/CGCPFTWOI#NGZCPFGTMQRHTOKV&KCFGO WPF #OOQPUJQTP#VJGPC 0KMGRJQTQU UKV\V N FCXQT (CEMGN WPF /QPQITCOO KO #DUEJPKVV /·CP   FGT6JQORUQPKP'UUC[U4QDKPUQP 'VYCU(WPFDGNCIUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT5CTFGKUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPUJQTP #VJGPC0KMGRJQTQUUKV\VNFCXQT\YGK/QPQITCOOG6JQORUQPKP'UUC[U4QDKPUQP 5GJTUEJÌP



407

408



Õ6GVTCFTCEJOG  X %JT 5GUVQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT$NWOG6JQORUQPKP'UUC[U4QDKPUQP 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT 5GUVQU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT$NWOG6JQORUQPKP'UUC[U4QDKPUQP  -N2TÒHURWTCO4CPFUGJTUEJÌP



54


410

409



Õ6GVTCFTCEJOG  X %JT 2GNNC  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT/QPQITCOOKO#DUEJPKVV-6JQORUQPKP'UUC[U4QDKPUQP 5GJTUEJÌP



2GNNCYCTFKG*CWRVUVCFV/CMGFQPKGPU0CEJFGTªDGTYKPFWPIFGU&GOGVTKQU2QNKQTMGVGUIGNCPIGU.[UKOCEJQU X%JTYGKVG6GKNGFGU.CPFGUGKP\WPGJOGP



Õ6GVTCFTCEJOGPCEJX%JT#KPQUI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPUJQTP #VJGPC 0KMGRJQTQU UKV\V N FCXQT -WNVDKNF FGU *GTOGU 2GTRJGTCKQU WPF 6J[TUQU !  /ÒNNGT XGTIN   50)$GTT[50)%QR 44)WVGUUGJTUEJÌP

412 Å

411 Å

1,5:1

1,5:1





1,5:1

1,5:1

Ô5VCVGT RQUVJWO -CNNCVKU  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP#VJGPC 0KMG   RJQTQUUKV\VN/ÒNNGT50)%QR6JQORUQPKP'UUC[U4QDKPUQP 8QT\ÒINKEJGU2TCEJVGZGORNCT  'KP#NGZCPFTGKGTCWU-CNNCVKUIGRT·IVGVYCX%JT\GKIV·JPNKEJG/QPQITCOOG 2TKEG 



Ô5VCVGTRQUVJWO ! WPDGUVKOOVG/ÒP\UV·VVGI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC0KMGRJQTQUUKV\VN/ÒNNGT50)%QR6JQORUQPKP'UUC[U4QDKPUQP  -N-TCV\GTXQT\ÒINKEJ 

413



414

415

Õ6GVTCFTCEJOG RQUVJWO .[UKOCEJKC  I #NGZCPFGTMQRH T OKV &KCFGO WPF #OOQPUJQTP   #VJGPC0KMGRJQTQUUKV\VNFCXQT/QPQITCOOKO#DUEJPKVV/QPQITCOOWPF.ÌYGPMQRH/ÒNNGT 50)$GTT[50)%QR .GKEJVTCWJG1DGTHN·EJGCWHFGT8QTFGTUGKVGIWVGUUGJTUEJÌP





Õ6GVTCFTCEJOGRQUVJWO.[UKOCEJKCI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPUJQTP#VJG PC0KMGRJQTQUUKV\VNFCXQT/QPQITCOO/ÒNNGT50)$GTT[50)%QR )WVGUUGJTUEJÌP





Õ6GVTCFTCEJOG RQUVJWO !  WPDGMCPPVG /ÒP\UV·VVG  I #NGZCPFGTMQRH T OKV &KCFGO WPF   #OOQPUJQTP#VJGPC0KMGRJQTQUUKV\VNFCXQTWPFKO#DUEJPKVVLGGKP/QPQITCOO/ÒNNGT50) %QR6JQORUQPKP'UUC[U4QDKPUQP 5GJTUEJÌP

 55


/#%'&10+#

417

416

418

1,5:1

1,5:1

1,5:1

1,5:1

1,5:1



70$'-#006'/ª0<5666'Õ1DQNWOX%JTI-TGDU+PEWUWO50)#05 5XQTQPQU2N:8 445GJTUEJÌP





Õ1DQN  ,CJTJWPFGTV X %JT  I #FNGT UVGJV T%JGN[U 5EJKNFMTÌVGPNGKGT  -NGKP  9CI   IQPGT4QUGP%QNN50)#05 445GJTUEJÌP





Õ6GVCTVGOQTKQP  ,CJTJWPFGTV X %JT  I #HHG JQEMV N4WPFUEJKNF -NGKP  9CIIQPGT   4QUGP%QNN50)#05 445GJTUEJÌP



419



1,5:1

420

419

1,5:1

420

#+)#+ Õ6TKJGOKQDQN  X %JT  I <KGIG MPKGV T FCTÒDGT 2WPMV8KGTIGVGKNVGU +PEW   UWO50)#05 5GJTUEJÌP



#KICKYCTFKG·NVGUVGOCMGFQPKUEJG4GUKFGP\WPF$GIT·DPKUUV·VVGFGT-ÌPKIG



#-#06*15 Õ1DQN  ,CJTJWPFGTV X %JT  I 5VKGTMQRH T8KGTIGVGKNVGU +PEWUWO   50)#05XGTIN50)#UJOQNGCP (GKPG2CVKPCUGJTUEJÌP

422







422

421

Õ6GVTCFTCEJOGX%JTI.ÌYGTUEJN·IV5VKGTNKO#DUEJPKVV#MCPVJQUDNÒVG8KGT IGVGKNVGU+PEWUWO&GUPGWZ50)#05XGTIN  8QTFGTUGKVGMNGKPGT5EJTÌVNKPIUHGJNGTCO4CPFUGJTUEJÌP Õ6GVTQDQN  X %JT  I 5VKGTRTQVQOG N \WTÒEMDNKEMGPF FCTÒDGT #8KGTIGVGKNVGU +P   EWUWO50)#0550)%QR 5GJTUEJÌP

 

423



$+5#.6#+ Õ1MVQFTCEJOG PCEJ  X%JTI*GTQUOKV2GVCUQUWPF.CP\GPUVGJVJCNDT JKPVGTGKPGO2HGTF8KGTIGVGKNVGU+PEWUWO#/0) UVGORGNINGKEJ  45GJTUEJÌP  &GT *GTQU KUV 4JGUQU FGT 5QJP FGU 5VT[OQP -ÌPKI FGT 6JTCMGT 'T M·ORHVG XQT +NKQP HÒT FKG 6TQKCPGT WPF   YWTFGFWTEJ1F[UUGWUWPF&KQOGFGUIGVÌVGV *QOGT+NKCU$WEJWPF'WTKRKFGU4JGUQU 

424

1,5:1

424

425

1,5:1

425



'+10Õ6TKJGOKQDQN,CJTJWPFGTVX%JTI)CPUUVGJVT\WTÒEMDNKEMGPF8KGTIGVGKNVGU+P EWUWO50)#0550)%QR )WVGUUGJTUEJÌP





Õ&KQDQN WO  X %JT  I )CPU UVGJV T \WTÒEMDNKEMGPF8KGTIGVGKNVGU +PEWUWO 50)   #0550)%QR )WVGUUGJTUEJÌP



56


426

428

1,5:1

1,5:1

427

1,5:1



.'6' !  Õ 5VCVGT  ,CJTJWPFGTV X %JT  I 5CV[T JQEMV T FCXQT 2WPMV8KGTIGVGKNVGU   +PEWUWO50)#05 5GJTUEJÌP



/'0&' Õ6GVTCFTCEJOG  X %JT  I &KQP[UQU OKV -CPVJCTQU CWH 'UGN T WPVGP   9GKPVTCWDG+P+PEWUWO9GKPUVQEMKP.KPKGPSWCFTCV#/0)50)#05XGTIN  4ÒEMUGKVGNGKEJVMQTTQFKGTVUGJTUEJÌP 



Õ6TKVCTVGOQTKQPX%JTI'UGNUVGJVT-T·JGUVGJVT50)#05

5GJTUEJÌP





429 1,5:1

1,5:1

430



0'#21.+5Õ1DQNX%JTI)QTIQPGKQP8KGTIGVGKNVGU+PEWUWO50)#05XGTIN 4GXGTUOKPKOCNMQTTQFKGTVXQT\ÒINKEJ



1.;06*15 %JCNMKFKUEJGT $WPF Õ6GVTCFTCEJOG  X %JT  I #RQNNQMQRH T OKV   .QTDGGTMTCP\-KVJCTC50)#05 )WVGUUGJTUEJÌP 



&GT EJCNMKFKUEJG $WPF GKP <WUCOOGPUEJNW­ FGT 5V·FVG CWH FGT %JCNMKFKMG YWTFG  IGITÒPFGV  X %JT   YWTFG1N[PVJQUFCUUKEJOKV#VJGPXGTDÒPFGVJCVVGXQP2JKNKRRQU++XQP/CMGFQPKGP\GTUVÌTV

432

431

433

1,5:1

1,5:1



Õ6GVTCFTCEJOG  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\-KVJCTC 50) #05   XGTIN 'VYCUTCWG1DGTHN·EJGIWVGUUGJTUEJÌP 



Õ&KQDQNX%JTI#RQNNQMQRHT&TGKHW­50)#05  .GKEJVGT(WPFDGNCIUGJTUEJÌP



5'4/;.'Õ6GVTQDQNHTÒJGU,CJTJWPFGTVX%JTI4GKVGTNOKVGTJQDGPGO5RGGT8KGT IGVGKNVGU+PEWUWO50)#0550)#UJOQNGCP 44-QTTQFKGTVUEJÌPUGJTUEJÌP

 

*GTQFQV 8++   GTY·JPV 5GTO[NG DGK FGT $GUEJTGKDWPI FGU 9GIGU FGP FKG (NQVVG FGU :GTZGUX%JTPCEJ 5ÒFGPPCJO

434 1,5:1

436

435 1,5:1

1,5:1

1,5:1

1,5:1

1,5:1



5-+10'Õ*GOKQDQNX%JTI/·PPGTMQRHT+P+PEWUWO#WIG50)#05 45GJTUEJÌP





Õ1DQN WO  X %JT  I ,ÒPINKPIUMQRH T+O +PEWUWO MQTKPVJKUEJGT *GNO T -NGKP    50)#059CIIQPGT4QUGP%QNN 45GJTUEJÌP



5MKQPGYCT/KVINKGFFGUCVVKUEJGP5GGDWPFGUX%JTTGDGNNKGTVG5MKQPGIGIGP#VJGP\YGK,CJTGUR·VGTYWT FGFKG5VCFVXQPFGP#VJGPGTPXÌNNKI\GTUVÌTV+PFKGUGTMWT\GP5RCPPGOW­WPUGTG/ÒP\GIGRT·IVYQTFGPUGKP



6*'4/# Õ*GOKQDQN  X %JT  I 2GICUWURTQVQOG T8KGTIGVGKNVGU +PEWUWO 50)   #05 45GJTUEJÌP

 57


437 1,5:1

1,5:1

439

438



64#)+.15 Õ*GOKQDQN  X %JT  I JTG8KGTIGVGKNVGU +PEWUWO FCTKP 'VJPKMQP   50)#05 5GJTUEJÌP





-¤0+)4'+%*#NGZCPFGT+X%JTÕ&TCEJOGX%JTI-TKGIGTUVGJVT OKV\YGK5RGGTGPFCXQTUVGJV2HGTFT8KGTIGVGKNVGU+PEWUWO50)#05  44/KP4CPFTK­UGJTUEJÌP



Õ6GVTQDQNX%JTI2HGTFT+P+PEWUWO*GNO4C[OQPFXGTIN (CUVUGJTUEJÌP





440



441

#TEJGNCQU+X%JTÕ&KFTCEJOGI#RQNNQMQRHT2HGTFTKO.KPKGPSWCFTCV50) #05 'VYCUQZ[FKGTVUGJTUEJÌP



'ZGORNCTFGT#WMVKQP-TKEJGNFQTH5VWVVICTV0T



2JKNKRRQU++X%JTÕ6GVTCFTCEJOGX%JT#ORJKRQNKUI<GWUMQRHT OKV.QTDGGTMTCP\4GKVGTNFCTWPVGT-GWNG.G4KFGT2N 42TÒHGKPJKGDUGJTUEJÌP

444 Å

443

442



1,5:1 1,5:1



Õ6GVTCFTCEJOG  X %JT #ORJKRQNKU  I <GWUMQRH T OKV .QTDGGTMTCP\4GKVGT T   .G4KFGT2N 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT #ORJKRQNKU  I <GWUMQRH T OKV .QTDGGTMTCP\4GKVGT T   WPVGP5EJKHHUJGEM.G4KFGT2N 8QTFGTUGKVGOKPMQTTQFKGTVUGJTUEJÌP





Ô5VCVGT  X %JT #ORJKRQNKU  I #RQNNQMQRH T OKV .QTDGGTMTCP\0KMG KP $KIC T   $GK\-GT[MGKQP.G4KFGT2N 2TCEJVGZGORNCT8QT\ÒINKEJp5VGORGNINCP\ 

445 Å

1,5:1

446 Å

1,5:1



Ô5VCVGTX%JT2GNNCI#RQNNQMQRHTOKV.QTDGGTMTCP\0KMGKP$KICTWPVGP&TGK \CEM.G4KFGT2N )WVGUUGJTUEJÌP



Ô5VCVGTRQUVJWOX%JT2GNNCI#RQNNQMQRHTOKV.QTDGGTMTCP\0KMGKP$KICT WPVGP&TGK\CEM.G4KFGT 8QT\ÒINKEJ  'ZGORNCTFGT#WMVKQP*GKP\9/ÒNNGT-ÌNP0T

58




447 Å

448

449



Ô5VCVGT RQUVJWO  X %JT 2GNNC  I #RQNNQMQRH T OKV .QTDGGTMTCP\$KIC T FCT   WPVGTHNKGIV0KMGT.G4KFGTXGTIN 5GJTUEJÌP 



Õ6GVTCFTCEJOG RQUVJWO  X %JT #ORJKRQNKU  I <GWUMQRH T4GKVGT T FCTWPVGT   #RJNCUVQP.G4KFGTRN 8QNN\GPVTKGTVGUUVGORGNIN·P\GPFGU2TCEJVGZGORNCT





Õ6GVTCFTCEJOG RQUVJWO  X %JT #ORJKRQNKU  I <GWUMQRH T4GKVGT T FCTWPVGT   #RJNCUVQP.G4KFGTRN 5EJÌPG6ÌPWPIXQT\ÒINKEJ



451

450

452

453

454



Õ6GVTCFTCEJOGRQUVJWOX%JT#ORJKRQNKUI<GWUMQRHTOKV.QTDGGTMTCP\4GK VGTTWPVGPNWPF/QPQITCOO.G4KFGT2N 5GJTUEJÌPXQT\ÒINKEJ





Õ6GVTCFTCEJOGRQUVJWOX%JT#ORJKRQNKUI<GWUMQRHTOKV.QTDGGTMTCP\4GK VGTTOKV<YGKIWPVGP<YGKIWPF/QPQITCOO.G4KFGT2N UVGORGNINGKEJ  )WVGUUGJTUEJÌP





Õ6GVTCFTCEJOG RQUVJWO  X %JT #ORJKRQNKU  I <GWUMQRH T4GKVGT T FCTWPVGT   #RJNCUVQP.G4KFGTRN /KP5EJÒTHURWTCWHFGO4GXGTUUQPUVMPCRRXQT\ÒINKEJ





Õ6GVTCFTCEJOGRQUVJWOX%JT#ORJKRQNKUI<GWUMQRHTOKV.QTDGGTMTCP\4GK VGTTOKV<YGKIWPVGP#RJNCUVQPWPFP.G4KFGT2N 5GJTUEJÌP





Õ6GVTCFTCEJOGRQUVJWOX%JT#ORJKRQNKUI<GWUMQRHTOKV.QTDGGTMTCP\4GK VGTTFCTWPVGTJTG.G4KFGT2N 2TÒHGKPJKGDUGJTUEJÌP



455

456

457

458

459 Å



Õ6GVTQDQN RQUVJWO  X %JT #ORJKRQNKU  I #RQNNQMQRH T OKV 6CGPKG4GKVGT T   WPVGP<YGKI50)#05 (CUVXQT\ÒINKEJ





Õ6GVTQDQN RQUVJWO  X %JT #ORJKRQNKU  I #RQNNQMQRH T OKV 6CGPKG4GKVGT T   WPVGP5EJKNFKP5GKVGPCPUKEJV50)#05 .GKEJVFG\GPVTKGTVUGJTUEJÌP





Õ6GVTQDQN RQUVJWO  X %JT #ORJKRQNKU  I #RQNNQMQRH T OKV 6CGPKG4GKVGT T   FCTWPVGT*CNDOQPF ! .G4KFGTXGTIN2N 5GJTUEJÌP





#NGZCPFGT +++  X %JT Õ&TCEJOG  X %JT 5CTFGKU  I *GTCMNGUMQRH KO   .ÌYGPHGNNT<GWU#GVQRJQTQUUKV\VNFCXQT$KGPGWPVGTFGO6JTQP/QPQITCOO2TKEG  8QT\ÒINKEJ





Ô5VCVGTX%JT5CNCOKU %[RTWU I#VJGPCMQRHTKPMQTKPVJKUEJGO*GNO0KMGUVGJVN OKV-TCP\WPF5V[NKUFCXQT#FNGTN2TKEG )WVGUUGJTUEJÌP

 59


461 1,5:1

460

1,5:1



Õ6GVTCFTCEJOG  X %JT /GORJKU  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQ   RJQTQUUKV\VNFCXQT9KFFGTMQRHOKV+UKUMTQPG2TKEG 4UOKPMQTTQFKGTVHCUVXQT\ÒINKEJ





Õ1DQN  X %JT 5KFQP  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQRJQTQU UKV\V N   2TKEG 445GJTUEJÌPXQT\ÒINKEJ



462 Å

464 Å

463 Å

465 Å



Ô5VCVGT  X %JT #ORJKRQNKU  I #VJGPCMQRH T KP MQTKPVJKUEJGO *GNO0KMG UVGJV N   OKV-TCP\WPF5V[NKUFCXQTDQKQVKUEJGT5EJKNF2TKEG 5GJTUEJÌP 



Ô5VCVGT  X %JT #ORJKRQNKU  I #VJGPCMQRH T KP MQTKPVJKUEJGO *GNO0KMG UVGJV N   OKV-TCP\WPF5V[NKUFCXQT$NKV\2TKEG -NGKPGT4CPFHGJNGTUGJTUEJÌP  'ZGORNCTFGT#WMVKQP-TG­/ÒPEJGP0T



Ô5VCVGTX%JT.CORUCMQUI#VJGPCMQRHTKPMQTKPVJKUEJGO*GNO0KMGUVGJVNOKV -TCP\WPF5V[NKUFCXQT\YGKXGTGKPVG2HGTFGRTQVQOG2TKEG (CUUWPIUURWTGP!8QT\ÒINKEJ





Ô5VCVGTX%JT.CORUCMQUI#VJGPCMQRHTKPMQTKPVJKUEJGO*GNO0KMGUVGJVNOKV -TCP\WPF5V[NKUFCXQT\YGKXGTGKPVG2HGTFGRTQVQOG2TKEG  -TCV\GTCWHFGT8QTFGTUGKVGUGJTUEJÌP



467

466



Õ6GVTCFTCEJOG  X %JT #TCFQU  I *GTCMNGUMQRH  KO .ÌYGPHGNN T<GWU #GVQ   RJQTQUUKV\VN2TKEG 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT .CORUCMQU  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQ   RJQTQUUKV\VNFCXQTUVGJV&GOGVGTXXOKV\YGK(CEMGNPWPVGTFGO6JTQP/QPQITCOO2TKEG (GKPGT5VKNYKP\-TCV\GTCWHFGT8QTFGTUGKVGHCUVXQT\ÒINKEJ



469 Å

468

470 Å



Õ6GVTCFTCEJOGX%JT6CTUQUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQU UKV\VNFCXQT2HNWI2TKEG )WVGUUGJTUEJÌP





Ô5VCVGT,CJT X%JT 5KFQPI#VJGPCMQRHT0KMGUVGJVNOKV-TCP\WPF5V[NKU FCXQT<YGKIWPFSI2TKEG 448QT\ÒINKEJp5VGORGNINCP\





Ô5VCVGTRQUVJWOX%JT/KNGVI#VJGPCMQRHTKPMQTKPVJKUEJGO*GNO0KMGUVGJVN OKV-TCP\WPF5V[NKUFCXQT/QPQITCOO2TKEG 8QT\ÒINKEJ



60


471 Å

1,5:1

472 Å 1,5:1



Ô5VCVGT RQUVJWO  X %JT /KNGV  I #VJGPCMQRH T KP MQTKPVJKUEJGO *GNO0KMG   UVGJVNOKV-TCP\WPF5V[NKUFCJKPVGT/QPQITCOOWPF&QRRGNCZV2TKEG 5GJTUEJÌP 



Ô5VCVGTRQUVJWOX%JT5CNCOKUI#VJGPCMQRHTKPMQTKPVJKUEJGO*GNO0KMGUVGJV NOKV-TCP\WPF5V[NKUFCXQT4WFGT2TKEG 8QT\ÒINKEJ

474

473

475

477



476



Õ6GVTCFTCEJOG RQUVJWO  X %JT $CD[NQP  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU   #GVQRJQTQUUKV\VNN/CWHFGO6JTQPLU2TKEG 5GJTUEJÌP





Õ6GVTCFTCEJOGRQUVJWOX%JT/GORJKUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU #GVQRJQTQUUKV\VNFCXQT$NKV\WPVGTFGO6JTQPDI2TKEG  )TCHHKVKCWHFGO4GXGTUIWVGUUGJTUEJÌP





Õ6GVTCFTCEJOGRQUVJWOX%JTWPDGMCPPVG/ÒP\UV·VVGI*GTCMNGUMQRHKO.ÌYGP HGNNT<GWU#GVQRJQTQUUKV\VNKO(GNFN#2TKEG (CUVXQT\ÒINKEJ





Õ6GVTCFTCEJOGRQUVJWOWPDGMCPPVG/ÒP\UV·VVGI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQUUKV\VNFCXQT#ORJQTG*GTUJ#FFKVKQPUCPF%QTTGEVKQPUVQ/CTVKP2TKEG U6JG%QKPCIGKPVJG 0COGQH#NGZCPFGTVJG)TGCVCPF2JKNKRR#TTJKFCGWU/ÒNNGT2TKEG 5GJTUEJÌP



Õ&TCEJOGRQUVJWOX%JT-QNQRJQPI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQUUKV\VNFCXQT5VGTPT5RGGTURKV\G2TKEG (CUVXQT\ÒINKEJ





'ZGORNCTFGT#WMVKQP)KGUUGPGT/ÒP\JCPFNWPI/ÒPEJGP0T

478





1,5:1

479 Å

1,5:1

Õ&TCEJOGRQUVJWOX%JT-QNQRJQPI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQU UKV\V N FCXQT *CNDOQPF ÒDGT TI WPVGT FGO 6JTQP P *GTUJ #FFKVKQPU CPF %QTTGEVKQPU VQ    /CTVKP2TKEG U6JG%QKPCIGQH#NGZCPFGTVJG)TGCVCPF2JKNKRR#TTJKFCGWU/ÒNNGT2TKEG  (CUVXQT\ÒINKEJ



Ô5VCVGT RQUVJWO  X %JT 5KFQP  I #VJGPCMQRH T0KMG UVGJV N OKV -TCP\ WPF   5V[NKUFCXQT62TKEG 8QT\ÒINKEJGU2TCEJVGZGORNCT  61


484

480

481

483

482 1,5:1

484



Õ6GVTCFTCEJOGX%JT#MG2VQNGOCKUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQUUKV\VN2TKEG -N-TCV\GTCWHFGO#XGTUUGJTUEJÌP





Õ6GVTCFTCEJOG RQUVJWO  X %JT $CD[NQP  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU   #GVQRJQTQUUKV\VNFCXQT/QPQITCOOWPVGP/+2TKEG  8QTFGTUGKVGOKPMQTTQFKGTVUQPUVCVVTCMVKXGU'ZGORNCTUGJTUEJÌPpXQT\ÒINKEJ





Õ6GVTCFTCEJOG RQUVJWO  X %JT -QTKPVJ  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU   #GVQRJQTQUUKV\VNFCXQT#VJGPCHCUVXXWPVGTFGO6JTQPOLU2TKEG  5GNVGPDGUQPFGTUKPFKGUGT'TJCNVWPI8QT\ÒINKEJp5VGORGNINCP\





Õ6GVTCFTCEJOGRQUVJWOX%JT-QTKPVJI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQ RJQTQUUKV\VNFCXQT&TGKHW­WPVGTFGO6JTQPDO2TKEG )WVGUUGJTUEJÌP



'ZGORNCTFGT#WMVKQP)TÒP*GKFGNDGTI0T



Õ1DQN RQUVJWO  X %JT 'MDCVCPC  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQ   RJQTQU UKV\V N *GTUJ #FFKVKQPU CPF %QTTGEVKQPU VQ /CTVKP , 2TKEGyU 6JG %QKPCIG KP VJG PCOG QH   #NGZCPFGTVJG)TGCVCPF2JKNKR#TTJKFCGWU-NGKP2TKEG50)6ÒDKPIGP 5GJTUEJÌP



&KG<WYGKUWPI\W'MDCVCPCKUVPKEJVIGUKEJGTV

486

485



Õ6GVTCFTCEJOG RQUVJWO  X %JT /[NCUC  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU   #GVQRJQTQUUKV\VNFCXQT&QRRGNCZV2TKEG 8QT\ÒINKEJ



Õ6GVTCFTCEJOGRQUVJWOX%JT.CORUCMQUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU #GVQRJQTQUUKV\VNFCXQT/QPQITCOOWPVGTFGO6JTQP&GNRJKPT2TKEG  #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC



'ZGORNCTFGT#WMVKQP/ÒP\JCPFNWPI$CUGN$CUGN0T

488







487 Å 489

2JKNKRRQU+++X%JTÔ5VCVGTX%JT#D[FQUI#VJGPCMQRHTKPMQTKPVJK UEJGO*GNO0KMGUVGJVNOKV5V[NKUWPF<YGKIFCXQT(ÒNNJQTP2TKEG2  -N2TÒHURWTCO4CPFUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT#TCFQUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQU UKV\VNFCXQT/QPQITCOOKP-TGKUÒDGT/QPQITCOO2TKEG2 .GKEJVDCTDCTKUKGTVUGJTUEJÌP



'ZGORNCTFGT#WMVKQP*KTUEJ0CEJH/ÒPEJGP0T



62

Õ6GVTCFTCEJOGX%JT$CD[NQPI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQU UKV\VNFCXQT4CFWPF/QPQITCOOWPVGTFGO6JTQP/QPQITCOO2TKEG2  8QTFGTUGKVGOKPFG\GPVTKGTVXQT\ÒINKEJ




491

492 Æ

490



Õ6GVTCFTCEJOG  X %JT $CD[NQP  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQRJQ   TQUUKV\VNFCXQT*GNKQUMQRHXXWPVGTFGO6JTQP-;2TKEG2 5GJTUEJÌPpXQT\ÒINKEJ





Õ&TCEJOGX%JT5CTFGKUI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQUUKV\VN FCXQT5VGTPÒDGTTI2TKEG2 (CUVXQT\ÒINKEJ





-CUUCPFTQU  X %JT “U XQT  X %JT  I *GTCMNGUMQRH KO .ÌYGPHGNN T.ÌYG   NKGIVT50)%QRXGTINHH 4&WPMGNITÒPG2CVKPCHCUVXQT\ÒINKEJ



493



494

&GOGVTKQU2QNKQTMGVGUX%JTÕ6GVTCFTCEJOGX%JT#ORJKRQNKUI0KMG OKV5CNRKPZ 6TQORGVGP·JPNKEJGU+PUVTWOGPV NCWH2TQTC2QUGKFQPUVGJVNOKV&TGK\CEMFCXQT&TGK HW­0GYGNN 8QT\ÒINKEJGU2TCEJVGZGORNCT  &KG&CTUVGNNWPICWHFGT8QTFGTUGKVGGTKPPGTVCPFKG0KMGXQP5COQVJTCMGKO.QWXTG



Õ6GVTCFTCEJOGX%JT2GNNCI0KMGOKV5CNRKPZ 6TQORGVGP·JPNKEJGU+PUVTWOGPV N CWH2TQTC2QUGKFQPUVGJVNOKV&TGK\CEMFCJKPVGT&GNRJKPWPF5VGTP0GYGNN  .GKEJVMQTTQFKGTVUGJTUEJÌP



&KG&CTUVGNNWPICWHFGT8QTFGTUGKVGGTKPPGTVCPFKG0KMGXQP5COQVJTCMGKO.QWXTG

495



496

497

498

Õ6GVTCFTCEJOGX%JT&GOGVTKCUI-QRHTOKV&KCFGOWPF5VKGTJQTP2QUGKFQP UVGJVNOKV&TGK\CEM(W­CWH(GNUGP0GYGNN (CUVUGJTUEJÌP



&GOGVTKQU HÒJNVG UKEJ CNU 5QJP FGU 2QUGKFQP WPF VT·IV FCJGT CWH FKGUGT 6GVTCFTCEJOG FKG *ÌTPGT XQP 2QUGKFQPU   5VKGT &GOGVTKCU KUV GKPG )TÒPFWPI FGU &GOGVTKQU KP 6JGUUCNKGP WPF YCT GKPG FGT UV·TMUVGP (GUVWPIGP KP FGT   #PVKMG



Õ6GVTCFTCEJOG  X %JT 6[TQU  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQRJQTQU   UKV\VNFCXQT-GWNGWPF'0GYGNN 445GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT 6[TQU  I *GTCMNGUMQRH KO .ÌYGPHGNN T<GWU #GVQRJQTQU   UKV\VNFCXQT-GWNGKP-TGKUWPVGTFGO6JTQP/QPQITCOO0GYGNN  44-PCRRGT5EJTÌVNKPIUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT2GNNCI-QRHTOKV&KCFGOWPF5VKGTJQTP2QUGKFQPUVGJVN OKV&TGK\CEM(W­CWH(GNUGP0GYGNN -PCRRGT5EJTÌVNKPIUGJTUEJÌP





&GOGVTKQU HÒJNVG UKEJ CNU 5QJP FGU 2QUGKFQP WPF VT·IV FCJGT CWH FKGUGT 6GVTCFTCEJOG FKG *ÌTPGT XQP 2QUGKFQPU   5VKGT

63


500 Æ

499 Æ

1,5:1

1,5:1

1,5:1

1,5:1



“U MCTKUEJG /ÒP\UV·VVG  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNO2TQTC T FCXQT &QRRGNCZV   #/0)0GYGNN50)%QR (CUVXQT\ÒINKEJ





“U WPDGUVKOOVG /ÒP\UV·VVG  I #EJVUVTCJNKIGT 5VGTP CWH OCMGFQPKUEJGO 5EJKNF/CMGFQPKUEJGT   *GNO\YKUEJGPBA#/0)0GYGNNXCT50)%QR 8QT\ÒINKEJ



502

501





#PVKIQPQU)QPCVCUX%JTÕ6GVTCFTCEJOGI-QRHFGU2CPNCWHOCMGFQPKUEJGO 5EJKNF#VJGPC #NMKFGOQU N OKV 5EJKNF WPF $NKV\ N OCMGFQPKUEJGT *GNO T /QPQITCOO #/0)   XGTIN50)%QR #VVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT #PVKIQPQU&QUQPX%JTÕ6GVTCFTCEJOG2GNNC ! I2QUGKFQPMQRHT#RQNNQUKV\V NCWH2TQTCOKV$QIGP/GTMGTKP#05/0+:5 #VVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT

 

.CWV/GTMGTHGKGTVFKG4ÒEMUGKVGFGP5GGUKGIFGU&QUQPDGK#PFTQU

503



504

503

Õ6GVTCFTCEJOG 2GNNC !   I 2QUGKFQPMQRH T#RQNNQ UKV\V N CWH 2TQTC OKV $QIGP /GTMGT   KP#05/0+:5 4GXGTUOKPMQTTQFKGTVFGPPQEJCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT  .CWV/GTMGTHGKGTVFKG4ÒEMUGKVGFGP5GGUKGIFGU&QUQPDGK#PFTQU



2JKNKRRQU 8  X %JT Õ&KFTCEJOG  I -QRH T OKV &KCFGO+O -TCP\ -GWNG N   CW­GP5VGTP#/0)50)#UJOQNGCP 448QT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI  'ZGORNCTFGT#WMVKQP.GW<ÒTKEJ0T

505 Æ

506

505 Æ



“UI*GNKQUMQRHTOKV5VTCJNGPDKPFG$NKV\KP-TCP\#/0)XGTIN50)%QR  &WPMGNITÒPG2CVKPCUGJTUEJÌP



2GTUGWUX%JTÕ6GVTCFTCEJOGX%JTI-QRHTOKV&KCFGO+O-TCP\ #FNGTUVGJVTCWH$NKV\/COTQVJ 5GJTUEJÌPpXQT\ÒINKEJ

64

 




510

509

508

507

Õ6GVTCFTCEJOGX%JTI-QRHTOKV&KCFGO#FNGTUVGJVTCWH$NKV\/COTQVJD *GTXQTTCIGPFGU2QTVT·VXQT\ÒINKEJGU'ZGORNCT



0CEJFGO$GIKPPFGU-TKGIGUIGIGP4QONKG­2GTUGWUFCU)GYKEJVFGT6GVTCFTCEJOGPWOGVYCJGTCDUGV\GP WO)GNF\WIGYKPPGP5QGTMN·TVUKEJFCU)GYKEJVFKGUGUWPFFGTHQNIGPFGPFTGK5VÒEMG



Õ6GVTCFTCEJOGX%JTI-QRHTOKV&KCFGO#FNGTUVGJVTCWH$NKV\/COTQVJD 5GJTUEJÌPpXQT\ÒINKEJ





Õ6GVTCFTCEJOGX%JTI-QRHTOKV&KCFGO#FNGTUVGJVTCWH$NKV\/COTQVJ 5GJTUEJÌP





Õ6GVTCFTCEJOGX%JTI-QRHTOKV&KCFGO#FNGTUVGJVTCWH$NKV\/COTQVJ XGTIN 5GJTUEJÌP



511

512 Æ

513

513



#PQP[OÕ6GVTQDQNX%JT#ORJKRQNKU ! I/CMGFQPKUEJGT5EJKNF/CMGFQPKUEJGT *GNO#/0)50)%QR 5GJTUEJÌP





4¤/+5%*'2418+0<“U,CJTJWPFGTVI0KMGUVGJVNOKV-TCP\WPF2CNO\YGKI/CMG FQPKUEJGT5EJKNF#/0)50)%QR &WPMGNITÒPG2CVKPCHCUVXQT\ÒINKEJ





#GUKNNCU3W·UVQTÕ6GVTCFTCEJOGPCEJX%JT6JGUUCNQPKECI#NGZCPFGTMQRHTFCJKP VGTQ+P-TCP\(KUEWU-GWNGWPF5VWJN$CWUNCWIJ)TWRRG++ 1$   8QNN\GPVTKGTVGU2TCEJVGZGORNCT8QT\ÒINKEJ5VGORGNINCP\



514





515

Õ6GVTCFTCEJOGPCEJX%JT6JGUUCNQPKECI#NGZCPFGTMQRHTFCJKPVGTQ+P-TCP\(KU EWU-GWNGWPF5VWJN$CWUNCWIJ)TWRRG+ 1%4   #XGTUOKPMQTTQFKGTVUQPUVCVVTCMVKXGU'ZGORNCTUGJTUEJÌPXQT\ÒINKEJ



Õ6GVTCFTCEJOGPCEJX%JT6JGUUCNQPKECI#NGZCPFGTMQRHTFCJKPVGTQ+P-TCP\(KU EWU-GWNGWPF5VWJN$CWUNCWIJ)TWRRG8 1  5GJTUEJÌP

 65


516



Õ6GVTCFTCEJOG PCEJ  X %JT 6JGUUCNQPKEC  I #NGZCPFGTMQRH T FCJKPVGT Q+P -TCP\   (KUEWU-GWNGWPF5VWJN$CWUNCWIJ)TWRRG8+ 1$  5GJTUEJÌP



2#'10+#

517



519

518

520

-¤0+)4'+%* .[MMGKQU  X %JT Õ6GVTCFTCEJOG  I #RQNNQMQRH T OKV .QTDGGT   MTCP\*GTCMNGUGTYÒTIVFGPPGOGKUEJGP.ÌYGP#/0)XGTIN50)#05XCT  -NGKPGT5EJTÌVNKPIUHGJNGTXQT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI





Õ6GVTCFTCEJOGI#RQNNQMQRHNOKV.QTDGGTMTCP\*GTCMNGUGTYÒTIVFGPPGOGKUEJGP.ÌYGP #/0)50)#05 -WTKQUGT5VGORGNHGJNGTUGJTUEJÌPGU'ZGORNCT





Õ6GVTCFTCEJOG  I <GWUMQRH T*GTCMNGU GTYÒTIV FGP PGOGKUEJGP .ÌYGP #/0)  50)   #05 .GKEJVFG\GPVTKGTVXQT\ÒINKEJ





2CVTCQUX%JTÕ6GVTCFTCEJOGI#RQNNQMQRHTOKV.QTDGGTMTCP\4GKVGTTGTUVKEJV IGUVÒT\VGP)GIPGTN-CPVJCTQU50)#05 (CUVXQT\ÒINKEJGU'ZGORNCT



6*'55#.+#

522

521 Æ



-4#0010“UX%JTI4GKVGTT*[FTKCCWH9CIGP50)%QR50)'XGNRKFKU  )TÒPG2CVKPCIWVGUUGJTUEJÌP



&KG *[FTKC CWH 9CIGP UVGJV HÒT FGP 9WPUEJ PCEJ 4GIGP $GK ITQ­GT 6TQEMGPJGKV YWTFG FGT 9CIGP FWTEJ FKG   5VTC­GPIG\QIGPWPFFCOKV<GWUWO4GIGPIGDGVGP



.#/+#Õ*GOKFTCEJOGX%JTI&KQP[UQUMQRHNOKV'HGWMTCP\#ORJQTGT2TQ EJQWU50)%QR /KPMQTTQFKGTVUGJTUEJÌP



'ZGORNCTFGT#WMVKQP-TKEJGNFQTH5VWVVICTV0T

1,5:1

523

1,5:1

524



Õ1DQN  X %JT  I &KQP[UQUMQRH N OKV 'HGWMTCP\#ORJQTG T 2TQEJQWU )GH·­    50)%QR 5GJTUEJÌP





.#4+55# Õ&TCEJOG  X %JT  I 5\GPG CWU FGT 6CWTQMCVJCRUKC UVKGTD·PFKIGPFGT   ,ÒPINKPI2HGTFURTKPIVT*GTTOCPP6H+++HH 5GJTUEJÌP



&KG 6CWTQMCVJCRUKGP 5VKGTURKGNG VJGUUCNKUEJGP 7TURTWPIU YCTGP UR·VGT ÒDGT FKG ICP\G ITKGEJKUEJG 9GNV XGTDTGKVGV   5KGIGJGPXGTOWVNKEJCWHOKPQKUEJG9WT\GNP\WTÒEM

66


525

1,5:1

526

1,5:1

1,5:1

1,5:1



Õ1DQNX%JTI5VKGTMQRHN+P+PEWUWO2HGTFGMQRHT*GTTOCPP6H+  -NGKPGT5VGORGNCWUDTWEJCWHFGO4GXGTUUGJTUEJÌP





Õ&TCEJOGX%JTI0[ORJGPMQRHN2HGTFURTKPIVT*GTTOCPP6H+8  *GTTNKEJG6ÌPWPIGNGICPVGT5VKNXQT\ÒINKEJpUVGORGNHTKUEJ



527

529

528

530



Õ&TCEJOGX%JTI0[ORJGPMQRHHCUVXX2HGTFITCUVT*GTTOCPP6H8HH  (GKPGT5VKN)TCHHKVQ#CWHFGO4GXGTUXQT\ÒINKEJ





Õ&TCEJOG  X %JT  I 0[ORJGPMQRH HCUV X X2HGTF WPF (QJNGP T *GTTOCPP 6H   8+HH 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP-WTRH·N\KUEJG/ÒP\JCPFNWPI/CPPJGKO0T



Õ&KQDQNX%JTI0[ORGPMQRHHCUVXX2HGTFITCUVTWPVGP/*GTTOCPP6H8 445GJTUEJÌP





Õ&KQDQN ! X%JTI0[ORJGPMQRHHCUVXX2HGTFITCUVT*GTTOCPP6H8 .GKEJVMQTTQFKGTVUGJTUEJÌP



'ZGORNCTFGT#WMVKQP-WTRH·N\KUEJG/ÒP\JCPFNWPI/CPPJGKO0T

532 Æ

531

1,5:1

1,5:1



Õ&TCEJOGX%JTI0[ORJGPMQRHHCUVXX2HGTFITCUVT*GTTOCPP6H8++ 8QT\ÒINKEJ





“U PCEJ  X %JT  I *GTCMNGU !  UKV\V N OKV GTJQDGPGO TGEJVGP #TO0[ORJG UVGJV N   50)%QRXGTIN 4&WPMNG2CVKPCUGJTUEJÌP



*GTCMNGUYCTÒDGTUGKPGP5QJP6JGUUCNQUFGT#JPJGTTFGT#NGWCFGPFGT*GTTUEJGTXQP.CTKUUC

533

534

535

536

1,5:1



2*#4-#&10 Õ1DQN WO  X %JT  I 2HGTF T#VJGPC UVGJV N OKV .CP\G FCJKPVGT   4WPFUEJKNF$/%/QWUVCMC 45GJTUEJÌP





2*#45#.15Õ*GOKFTCEJOGX%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO2HGTFG MQRHT.CXXC 8QTFGTUGKVGNGKEJVMQTTQFKGTVIWVGUUGJTUEJÌP





Õ*GOKFTCEJOGX%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO2HGTFGMQRHT.CXXC 5GJTUEJÌP





Õ*GOKFTCEJOGX%JTI#VJGPCMQRHNOKVCVVKUEJGO*GNO2HGTFGMQRHT.CXXC 4.GKEJVMQTTQFKGTVUGJTUEJÌP

 67


537 Æ



539

1,5:1

538

1,5:1

2*'4#+#NGZCPFGTX%JT“UI5VKGTRTQVQOGT2HGTFGRTQVQOGT50)%QR 445EJYCT\G2CVKPCHCUVXQT\ÒINKEJ



#NGZCPFGTXQP2JGTCKYWTFGKPCNNGP'T\·JNWPIGPÒDGTGKPUVKOOGPFCNUFCU/WUVGTGKPGUITCWUCOGPWPFCTIYÌJPK UEJGP 6[TCPPGP DGUEJTKGDGP )GIGP KJP M·ORHVGP OKV O·­KIGO 'THQNI #NGZCPFGT ++ XQP /CMGFQPKGP WPF FKG   6JGDCPGT'RCOGKPQPFCUWPF2GNQRKFCUNGV\VGTGTHKGNDGK-[PQUMGRJCNCK#WEJFGP#VJGPGTPDTCEJVG#NGZCPFGTKP GKPGT5GGUEJNCEJVGKPG0KGFGTNCIGDGK9CUFGP(GKPFGPPKEJVIGNCPIXQNNDTCEJVG#NGZCPFGTU)GOCJNKP6JGDGFKG KJPGTOQTFGPNKG­



5-16755# Õ&TCEJOG  X %JT  I 2HGTFGRTQVQOG N+P +PEWUWO 9GK\GPMQTP   50)%QR 8QPITQ­GT5GNVGPJGKV5GJTUEJÌP 



6*'55#.1+ Õ1DQN  X %JT  I 2HGTFGMQRH T+P +PEWUWO JTG $/% WPVGT   2JGTCK XGTIN50)#UJOQNGCPXGTIN 5GJTUEJÌP

541

540



542



543

544

.+)#  X %JT Õ5VCVGT  X %JT /CIKUVTCVG 6JTCU[NNQU WPF 2CWUC PKCU!   I   -QRH FGU <GWU XQP &QFQPC T OKV 'KEJGPMTCP\#VJGPC +VQPKC UVGJV T OKV 5RGGT WPF 5EJKNF $/%    XCT50)#UJOQNGCP50)%QR 2TCEJVGZGORNCTXQT\ÒINKEJpUVGORGNHTKUEJ



0CEJ FGT 5EJNCEJV DGK -[PQUMGRJCNCK  X %JT DGHTGKVG FGT TÌOKUEJG (GNFJGTT (NCOKPKWU FKG 6JGUUCNGT FKG   UKEJ\WGKPGT.KIC\WUCOOGPUEJNQUUGPWPF\WOKPFGUVGKIGPG/ÒP\GPRT·IGPMQPPVGP







Õ5VCVGTX%JT/CIKUVTCVG5QUKRCVTQUWPF)QTIQRCUI-QRHFGU<GWUXQP&QFQPCT OKV'KEJGPMTCP\#VJGPC+VQPKCUVGJVTOKV5RGGTWPF5EJKNF$/%XGTIN50)#UJOQNGCPXGTIN 50)%QR 8QT\ÒINKEJ



Õ5VCVGTX%JT/CIKUVTCVG5QUKRCVTQUWPF)QTIQRCUI-QRHFGU<GWUXQP&QFQPCT OKV'KEJGPMTCP\#VJGPC+VQPKCUVGJVTOKV5RGGTWPF5EJKNF$/%XGTIN50)#UJOQNGCP 50)%QRXGTIN 5EJÌPG2CVKPCIWVGUUGJTUEJÌP



Õ5VCVGTX%JT/CIKUVTCVG2JKNQPWPF*KRRQNQEJQUI-QRHFGU<GWUXQP&QFQPCT OKV 'KEJGPMTCP\#VJGPC +VQPKC UVGJV T OKV 5RGGT WPF 5EJKNF $/%  50) #UJOQNGCP  50)   %QR (CUVXQT\ÒINKEJ



<WO 0QOKPCN UKGJG (TCPMG <WT %JTQPQNQIKG FGT 5VTCVGIGP WPF FGT /ÒP\RT·IWPI FGU -QKPQP FGT 6JGUUCNGT KP   5EJYGK\GT/ÒP\DN·VVGT5HH 



Õ&TCEJOGX%JT/CIKUVTCVG6+  WPF/#  I#RQNNQMQRHTOKV.QTDGGTMTCP\ #VJGPC +VQPKC UVGJV T OKV 5RGGT WPF 5EJKNF \YKUEJGP \YGK 5VGTPGP $/%  50) #UJOQNGCP    50)%QR 5GJTUEJÌP



'2+475

545 Æ



1,5:1

546 Æ

1,5:1

#/$4#-+# “U  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\<GWU IGJV T OKV $NKV\   WPF#GIKU50)%QR 1NKXITÒPG2CVKPCUGJTUEJÌP



#ODTCMKCYCTGKPGMQTKPVJKUEJG-QNQPKG

 68

'.'#“UX%JTI2GICUWUHNKGIVT&TGK\CEMTJTG(TCPMG  &WPMGNITÒPG2CVKPCUGJTUEJÌP




548 Æ

547 Æ

549 Æ



-#5512'“UX%JTI#RJTQFKVGMQRHTOKV5VGRJCPG+P-TCP\6CWDGN(TCPMG )TÒPG2CVKPCUGJTUEJÌP





/1.1551+“UX%JTI4WPFUEJKNFFCTCWH$NKV\+P-TCP\$NKV\(TCPMGHH  &WPMGNITÒPG2CVKPCUGJTUEJÌP





6*'524161+“UX%JTI2GTUGRJQPGMQRHHCUVXX-GTDGTQUN(TCPMG84 !  8QPITQ­GT5GNVGPJGKV)TÒPG2CVKPCUGJTUEJÌP

550 Æ



551



-¤0+)4'+%*2[TTJQUX%JT“UI-QRHFGU<GWUXQP&QFQPCN$NKV\KP-TCP\ 50)%QR &WPMGNITÒPG2CVKPCUGJTUEJÌP





-1+010 Õ&TCEJOG  X %JT  I -QRH FGU <GWU XQP &QFQPC T OKV 'KEJGPMTCP\   +P'KEJGPMTCP\#FNGTUVGJVTCWH$NKV\(TCPMG 48QT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI



%14%;4#

552





553

%14%;4#Õ5VCVGTX%JTI-WJNU·WIV-CND-TGKUFCTKP\YGKIGVGKNVGU3WC FTCVOKV$NÒVGPOWUVGTN-T1$/%XGTINHH50)%QRXGTIN  #VVTCMVKXGU'ZGORNCTOKVHGKPGT2CVKPCUGJTUEJÌPXQT\ÒINKEJ



Õ&KFTCEJOG  X %JT  I &KQP[UQUMQRH T OKV 'HGWMTCP\2GICUQU T $/%  50)   %QR -N-TCV\GTUGJTUEJÌP



'ZGORNCTFGT#WMVKQP*KTUEJ/ÒPEJGP0T

#%#40#0+#

554



555

556

557

#0#-614+10 Õ5VCVGT  X %JT  I 2GICUWU HNKGIV T#VJGPCMQRH T OKV MQTKPVJK   UEJGO*GNOFCJKPVGT&TGKHW­KP-TCP\WPF/QPQITCOO%CNEKCVK2GICUK  .GKEJVGT&QRRGNUEJNCICWHFGT8QTFGTUGKVGUQPUVXQT\ÒINKEJpUVGORGNHTKUEJ





Õ5VCVGTX%JTI2GICUWUHNKGIVT#VJGPCMQRHTOKVMQTKPVJKUEJGO*GNOFCJKPVGT &TGKHW­KP-TCP\WPF/QPQITCOO%CNEKCVK2GICUK 5GJTUEJÌP





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT6J[OKCVGTKQP%CNEKCVK2GICUK (NGEMKIUGJTUEJÌP





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT$WMTCPKQP%CNEKCVK2GICUK 5EJTÌVNKPIUHGJNGTCWHFGO#XGTUUGJTUEJÌP

 69


558

559

562

560

561



.'7-#5 Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO   *GNOFCJKPVGT-GT[MGKQP%CNEKCVK2GICUKXGTIN 5GJTUEJÌP





Õ5VCVGTX%JTI2GICUWUHNKGIVN#VJGPCMQRHNOKVMQTKPVJKUEJGO*GNOFCJKPVGT /CUV%CNEKCVK2GICUK 5GJTUEJÌP





6*;44*'+10 Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJK   UEJGO*GNOFCJKPVGT5EJKNF%CNEKCVK2GICUK )WVGUUGJTUEJÌP





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGTDQKQVKUEJGT5EJKNF%CNEKCVK2GICUK 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



.+)#X%JTÕ5VCVGT.GWMCU ! I/CIKUVTCV.[MWTIQUI#PFTQMGRJCNGT 5VKGTMQRHT#RQNNQUKV\VNOKV$QIGP+OJQQH$NWOGT&KG/ÒP\GP#MCTPCPKGPU 5GJTUEJÌP



&GTCPFTQMGRJCNG5VKGTMQRHFGT8QTFGTUGKVGU[ODQNKUKGTVFGP(NW­IQVV#EJGNQQU

#+61.+#

564

563



.KIC  X %JT Õ5VCVGT  I /·PPNKEJGT -QRH T OKV 'KEJGPMTCP\-TKGIGT UVGJV N OKV   5RGGT(W­CWH(GNUGP$/%5EJGWKP0%550)%QR 45GJTUEJÌP



&KGUG 5VCVGTG UKPF PCEJ FGO (W­ XQP %QTE[TC IGRT·IV WPF GPVURTCEJGP XKGT MQTKPVJKUEJGP &TCEJOGP 5EJGW 0%    5  HH  #WU GKPGO $ÒPFPKUXGTVTCI \YKUEJGP #ECTPCPKGP WPF #KVQNKGPCWUFKGUGT<GKVYKUUGPYKTFC­GKP *QRNKV&TCEJOGPCO6CICNU5QNFGTJKGNV



Õ*GOKFTCEJOGI#VCNCPVCMQRHTOKV-CWUKC'DGTTKO#DUEJPKVV5RGGTURKV\G$/%50) %QR 5GJTUEJÌP



.1%4+5

565 1,5:1



70

1,5:1

.1-4+5 12706+# Õ5VCVGT  X %JT  I &GOGVGTMQRH N#LCZ IGJV T OKV   5EJYGTVWPF5EJKNFWPVGPRJT[IKUEJGT*GNO$/%50)%QR50)&GNGRKGTTG  -PCRRGT5EJTÌVNKPIMN-TCV\GTCWHFGO#XGTUIWVGUUGJTUEJÌP 


567

568

566



Õ5VCVGT  X %JT  I &GOGVGTMQRH N#LCZ IGJV T OKV 5EJYGTV WPF 5EJKNF WPVGP   *GNO$/%50)%QR50)&GNGRKGTTG 5GJTUEJÌP





Õ*GOKFTCEJOG  X %JT 1RQWU  I &GOGVGTMQRH N#LCZ IGJV T OKV 5EJYGTV WPF   5EJKNFWPVGP.CP\G$/%50)%QR #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





Õ*GOKFTCEJOG  X %JT 1RQWU  I &GOGVGTMQRH T#LCZ IGJV T OKV 5EJYGTV WPF   5EJKNFWPVGP-CPVJCTQU$/%50)%QR 4GUVGXQP(WPFDGNCIUGJTUEJÌP





1,5:1

569

1,5:1

Õ1DQN  X %JT  I #ORJQTGUVTCJNKIGT 5VGTP $/% XGTIN  HH 50) %QR   XGTINHH 5GJTUEJÌP



2*1%+5

570

1,5:1

1,5:1

1,5:1

571

1,5:1



(¤&'4#6+10Õ1DQNX%JTI5VKGTMQRHXX'DGTRTQVQOGT9KNNKCOU  5GJTUEJÌP





Õ1DQNX%JTI5VKGTMQRHXX'DGTRTQVQOGT9KNNKCOU 14  5GJTUEJÌP



572

1,5:1

 

1,5:1

1,5:1

573

Õ*GOKFTCEJOGX%JTI5VKGTMQRHXX#TVGOKUMQRHT9KNNKCOU Õ1DQNX%JTI5VKGTMQRHXX'DGTRTQVQOGT9KNNKCOUXGTIN

574

1,5:1

5GJTUEJÌP 5GJTUEJÌP

 

575



Õ*GOKFTCEJOGX%JTI5VKGTMQRHXX#TVGOKUMQRHT9KNNKCOUC FKGU'ZGO RNCT  5GJTUEJÌP





Õ*GOKFTCEJOGX%JTI5VKGTMQRHXX#TVGOKUMQRHT9KNNKCOU  .GKEJVFG\GPVTKGTVUGJTUEJÌP



$1'16+#

577



1,5:1

576

1,5:1

577

6#0#)4# Õ1DQN  X %JT  I $QKQVKUEJGT 5EJKNF2HGTFGRTQVQOG N $/%    50)%QR 45GJTUEJÌP



6CPCITCFKGDGFGWVGPFUVG5VCFVKOUÒFÌUVNKEJGP$QKQVKGPYCTDGTÒJOVHÒTKJTG6GTTCMQVVGP FKGDGTÒJOVGP6CPC ITCHKIWTGP KJTG-CORHJ·JPGWPFFGPDGUVGP9GKP$QKQVKGPU



6*'$'0 Õ5VCVGT  X %JT  I $QKQVKUEJGT 5EJKNF&KQP[UQUMQRH T OKV 'HGWMTCP\   $/% 4ÒEMUGKVGNFG\GPVTKGTVUGJTUEJÌPXQT\ÒINKEJ



2CWUCPKCUGTY·JPVGKP&KQP[UQUUVCPFDKNFKP6JGDGP +: 

71


578

1,5:1

1,5:1

579



Õ*GOKFTCEJOG  X %JT  I $QKQVKUEJGT 5EJKNF-CPVJCTQU FCTÒDGT -GWNG $/%    5GJTUEJÌP





-1+010Õ&TCEJOGX%JT6JGDGP ! I&GOGVGTMQRHHCUVXXOKVJTGPMTCP\ 2QUGKFQPUVGJVTOKV&TGK\CEMWPF&GNRJKPFCXQTDQKQVKUEJGT5EJKNF$/% 5GJTUEJÌP



580

581



Õ&TCEJOG  X %JT  I 2QUGKFQPMQRH T OKV .QTDGGTMTCP\0KMG UVGJV N OKV -TCP\   WPF&TGK\CEM$/% )WVGUUGJTUEJÌP





Õ&TCEJOG  X %JT  I 2QUGKFQPMQRH T OKV .QTDGGTMTCP\0KMG UVGJV N OKV -TCP\   WPF&TGK\CEM$/% )WVGUUGJTUEJÌP



'7$1'#

582 Æ 583

1,5:1

1,5:1

584 Æ



%*#.-+5 “U  X %JT  I *GTCMQRH T CWH KQPKUEJGO -CRKVGNN#FNGT T OKV   5EJNCPIG2KECTF'O$5NI$%& FKGU'ZGORNCT  &WPMNG2CVKPCIWVGUUGJTUEJÌP





'4'64+# Õ&TCEJOG  X %JT  I 9GKDNKEJGT -QRH 'WDQKC!  N-WJMQRH KP &TGK   XKGTVGNCPUKEJVT&GNRJKP9CNNCEG #VVTCMVKXGU'ZGORNCTOKVHGKPGT2CVKPCIWVGUUGJTUEJÌP





*+56+#+# “U  X %JT  I 0[ORJGPMQRH T5VKGT UVGJV T FCJKPVGT 9GKPUVQEM 5NI   $%& FKGU'ZGORNCT 50)%QRXGTIN &WPMGNITÒPG2CVKPCUGJTUEJÌP



#66+%#

1,5:1



72

1,5:1

#6*'0 Õ6GVTCFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEW   UWO 'WNG UVGJV T FCJKPVGT 1NKXGP\YGKI 5GNVOCP )TWRRG / 50) /ÒPEJGP XGTIN  5XQTQPQU   XGTIN2N8 +PFKGUGT'TJCNVWPICW­GTQTFGPVNKEJUGNVGP -N5VGORGNDTWEJCWHFGT8QTFGTUGKVGHCUVXQT\ÒINKEJGU'ZGORNCT 

1,5:1



585

586 1,5:1

Õ6GVTCFTCEJOG X%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO+P+PEWUWO'WNGT FCJKPVGT1NKXGP\YGKIWPF/QPFUKEJGN5VCTT)TWRRG+8XGTIN 14   8QT\ÒINKEJGU2TCEJVGZGORNCTOKVJGTTNKEJGT2CVKPC 


588

587

587

1,5:1



1,5:1

589 1,5:1

1,5:1

1,5:1

Õ&TCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEWUWO 'WNG T   FCJKPVGT1NKXGP\YGKIWPF/QPFUKEJGN  50)/ÒPEJGPXGTINHH  44&WPMGNIGVÌPV4ÒEMUGKVG-TCV\GTGNGICPVGTUR·VCTEJCKUEJGT5VKNIWVGUUGJTUEJÌP



&GT *CNDOQPF MQOOV CWH &TCEJOGP FKGUGT <GKV PKEJV XQT /ÌINKEJGTYGKUG NKGIV JKGT GKP (GJNGT FGU 5VGO   RGNUEJPGKFGTUXQT



Õ1DQN  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEWUWO 'WNG T FCJKPVGT   1NKXGP\YGKI50)/ÒPEJGPHH5XQTQPQU .GKEJVFG\GPVTKGTVHCUVUGJTUEJÌP





Õ1DQN  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEWUWO 'WNG T FCJKPVGT   1NKXGP\YGKI50)/ÒPEJGPHH 5GJTUEJÌP



#TKUVQRJCPGUUEJTGKDVKPFGP8ÌIGNP&GPPYGTFGPGWEJ FKG#VJGPGT FKG'WNGPPKGXGTNCUUGPFKGXQP.CW TKQP 0GKP UKG YGTFGP UKEJ JKGT PKGFGTNCUUGP WPF KP FGP $ÌTUGP GKPPKUVGP WO CWU\WDTÒVGP MNGKPGU 9GEJUGNIGNF   &GT1DQNUKGJVCWUYKGGKPG/KPKCVWTVGVTCFTCEJOG

590



591

592

Õ6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::+++ -N2TÒHGKPJKGDUGJTUEJÌPpXQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::++ 5GJTUEJÌP





Õ6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::++  8QTFGTUGKVGOKPKOCNMQTTQFKGTVUGJTCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT0T

593 1,5:1



1,5:1

Õ6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEWUWO 'WNG   TFCJKPVGT1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::++  8QT\ÒINKEJGU2TCEJVGZGORNCTOKVJGTTNKEJGT6ÌPWPI  73


595

594

597

596

598



ร•6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::+++ 7PTGIGNOยทยญKIGT5EJTรŒVNKPIUGJTUEJรŒP



ร•6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::+++ 2Tร’HGKPJKGDUGJTUEJรŒP





ร•6GVTCFTCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG T FCJKPVGT   1NKXGP\YGKIWPF/QPFUKEJGN5VCTTXGTIN2N::+++  2Tร’HRWP\GPWPF'KPJKGDGGVYCU(WPFDGNCIUGJTUEJรŒP





ร•&TCEJOG WO  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO+P +PEWUWO 'WNG T   FCJKPVGT1NKXGP\YGKI5VCTTXGTIN2N::++ 5GJTUEJรŒP





ร•6GVTCFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG UVGJV T FC   JKPVGT1NKXGP\YGKIWPF/QPFUKEJGN50)/ร’PEJGPXGTINHH  7PTGIGNOยทยญKIGT5EJTรŒVNKPIUGJTUEJรŒP





'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ร’PMGT0T

600



599

600

ร•6GVTCFTCEJOG  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO'WNG UVGJV T FC   JKPVGT1NKXGP\YGKIWPF/QPFUKEJGN50)%QR50)/ร’PEJGP5XQTQPQU2N 8QT\ร’INKEJ  &KG &CVKGTWPI DCUKGTV CWH FGO #WHUCV\ XQP *GNGPG 0KEQNGV2KGTTG,QJP * -TQNN #VJGPKCP 6GVTCFTCEJO %QKPCIG   QHVJG6JKTF%GPVWT[$%#,0



ร•6GVTCFTCEJOGX%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO+O-TCP\'WNGCWH#O RJQTGXXTIGJV0KMGTOKV-TCP\6JQORUQP &QRRGNUEJNCICWHFGO#XGTUIWVGUUGJTUEJรŒP

601





74



602

ร•6GVTCFTCEJOG 2[CPQRUKQP  1MVQDGT0QXGODGT   X %JT  I #VJGPCMQRH T OKV CVVK   UEJGO*GNO+P-TCP\'WNGCWH#ORJQTGOKVDXXT#TVGOKUOKV(CEMGN6JQORUQPF  5GJTUEJรŒP



ร•6GVTCFTCEJOG 2QUKFGQP  &G\GODGT,CPWCT   X %JT  I #VJGPCMQRH T OKV CVVK   UEJGO*GNO+P-TCP\'WNGCWH#ORJQTGOKVZXXT)QTIQPGKQP6JQORUQPXGTIN  .GKEJVGT&QRRGNUEJNCIUGJTUEJรŒP




#')+0#

603

604 1,5:1



#')+0# Õ5VCVGT  X %JT  I 5GGUEJKNFMTÌVG(ÒPHHCEJ IGVGKNVGU +PEWUWO 50)   &GNGRKGTTGXGTIN 2TÒHRWP\GUGJTUEJÌP



Õ5VCVGTX%JTI5GGUEJKNFMTÌVGOKVFGWVNKEJGO#WIG(ÒPHHCEJIGVGKNVGU+PEWUWO 50)&GNGRKGTTGXGTINHH 5GJTCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCTOKVJGTTNKEJGT2CVKPC 



0CEJFGTITKGEJKUEJGP6TCFKVKQPYWTFGPXQPFGP#GIKPGVGP\WOGTUVGP/CN/ÒP\GPKP'WTQRCIGRT·IV&CU9CR RGPXQP#GIKPCFKG5EJKNFMTÌVGKUVFCUJGKNKIG6KGTFGT#RJTQFKVG

606

605



Õ5VCVGTX%JTI5GGUEJKNFMTÌVGOKVFGWVNKEJGO#WIG(ÒPHHCEJIGVGKNVGU+PEWUWO 50)&GNGRKGTTGXGTINHH #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





Õ5VCVGT  X %JT  I 5GGUEJKNFMTÌVG OKV FGWVNKEJGO #WIG(ÒPHHCEJ IGVGKNVGU +PEW   UWO50)&GNGRKGTTGXGTINHH 2TÒHRWP\GCWHFGO#XGTUUGJTUEJÌP



608

607 1,5:1



Õ5VCVGT  X %JT  I 5GGUEJKNFMTÌVG OKV FGWVNKEJGO #WIG(ÒPHHCEJ IGVGKNVGU +PEW   UWO50)&GNGRKGTTGXGTINHH .GKEJVFG\GPVTKGTVUGJTUEJÌP





Õ5VCVGT  X %JT  I .CPFUEJKNFMTÌVG(ÒPHHCEJ IGVGKNVGU +PEWUWO 50) &GNGRKGTTG   XGTINHH /KV2TÒHRWP\GIWVGUUGJTUEJÌP



%14+06*+#

611 609

1,5:1

1,5:1

610



-14+06* Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N+P +PEWUWO #VJGPCMQRH T OKV   MQTKPVJKUEJGO*GNO%CNEKCVK2GICUK4CXGN 5GJTUEJÌP





Õ5VCVGTX%JTI2GICUWUHNKGIVT#VJGPCMQRHNOKVMQTKPVJKUEJGO*GNO%CNEKCVK 2GICUK4CXGN /KPMQTTQFKGTVMN-TCV\GTUGJTUEJÌP





Õ&KQDQN  X %JT  I 2GICUWU HNKGIV N2GICUWU HNKGIV N FCTÒDGT &GNRJKP $/%   

UVGORGNINGKEJ 50)%QR 5GJTUEJÌP

 75


614 613

612

1,5:1

1,5:1



Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGTHNKGIV#FNGTN%CNEKCVK2GICUK4CXGN #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT5VGTP%CNEKCVK2GICUK4CXGNXCT .GKEJVIGFTÒEMVUGJTUEJÌP





Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT  I 2GICUWURTQVQOG N-QRH FGT 0[ORJG 2GKTGPG N   OKVJTGPMTCP\50)%QRXGTIN 5GJTUEJÌP



615

616

617 1,5:1

1,5:1

1,5:1

1,5:1



Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT  I 2GICUWURTQVQOG N-QRH FGT 0[ORJG 2GKTGPG T   OKVJTGPMTCP\50)%QRXGTIN 4U6[RN  5GJTUEJÌP





Õ&TCEJOG  ,CJTJWPFGTV X %JT  I 2GICUWU HNKGIV T-QRH FGT 0[ORJG 2GKTGPG T 50)   %QR 5EJTÌVNKPIUTK­HCUVXQT\ÒINKEJ



0CEJ2KPFCT +UVJOKGP IGNCPIGU$GNNGTQRJQPDGKFGT3WGNNG2GKTGPGFGO2GICUQUFCUIQNFGPG<CWO\GWICP\W NGIGPFCUGTXQP#VJGPGGTJCNVGPJCVVG



Õ1DQN,CJTJWPFGTVX%JTI2GICUWUHNKGIVN&TGK\CEM$/%50)%QR  -NGKPGT4CPFCWUDTWEJUGJTUEJÌP



619

618 1,5:1



Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT'DGTN%CNEKCVK2GICUK4CXGN -N&TWEMUVGNNGXQT\ÒINKEJ





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGTDWPF-CPVJCTQU%CNEKCVK2GICUK4CXGN 5GJTUEJÌPpXQT\ÒINKEJ



620

621

622



Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV CVVKUEJGO *GNO FCJKPVGT D   WPF&KQP[UQU%CNEKCVK2GICUK4CXGN 8QT\ÒINKEJGU'ZGORNCT





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT6CWDGKP-TCP\%CNEKCVK2GICUK4CXGN 5GJTUEJÌP





Õ5VCVGTX%JTI2GICUWUHNKGIVN#VJGPCMQRHNOKVMQTKPVJKUEJGO*GNO.QTDGGT CNU*GNO\KGTFCJKPVGT%JKO·TG%CNEKCVK2GICUK4CXGN 5GJTUEJÌP



76


624

623



625

Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FCXQT   DFCJKPVGTIWPF*GTOGUNOKV(ÒNNJQTP%CNEKCVK2GICUK4CXGN  -NGKPGT5EJTÌVNKPIUHGJNGTUGJTUEJÌP



'ZGORNCTFGT#WMVKQP)GTJCTF*KTUEJ0CEJH/ÒPEJGP0T



Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT#TVGOKUTOKV(CEMGN%CNEKCVK2GICUK4CXGN 5GJTUEJÌP





Õ5VCVGT  X %JT  I 2GICUWU HNKGIV N#VJGPCMQRH N OKV MQTKPVJKUEJGO *GNO FC   JKPVGT2TQTC%CNEKCVK2GICUKXGTIN$GK\4CXGN -NGKPG2WP\GUGJTUEJÌP



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

626 Æ

628 Æ

627

1,5:1

1,5:1



“U  X %JT  I 2GICUWU HNKGIV N&TGK\CEM N * T &GNRJKP 5NI $%&  FKGU   'ZGORNCT  (GKPGFWPMGNITÒPG2CVKPCUGJTUEJÌP



Õ6GVTCFTCEJOG PCEJ CVVKUEJGO 6[R  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO   )TGKHWPF3WCFTKICCNU*GNO\KGT+P-TCP\'WNGCWH#ORJQTGOKV#XX6JQORUQP  44(CUVXQT\ÒINKEJGU'ZGORNCT 



'ZGORNCTFGT#WMVKQP5EJWNVGPWPF%Q(TCPMHWTV1MVQDGT0T  2NWVCTEJ GTY·JPV FKG 2T·IWPI XQP 0GWUVKNVGVTCFTCEJOGP FWTEJ . .WEWNNWU KP FGT 2GNQRQPPGU \WT (KPCP\KGTWPI   FGU /KVJTCFCVKUEJGP -TKGIGU .WE ++   5QICT FKG 6GORGNUEJ·V\G XQP 'RKFCWTQU 1N[ORKC WPF &GNRJK YWTFGP   XGTOÒP\V&GTYCJTUEJGKPNKEJUVG1TVFGT2T·IWPIKUV#MTQMQTKPVJFKG$WTIXQP-QTKPVJUKGJG$QGJTKPIGT5



“U  X %JT  I 2QUGKFQPMQRH T ÒDGT FGT 5EJWNVGT &TGK\CEM)GHNÒIGNVGT *KRRQECOR T   42%5NI$%& FKGU'ZGORNCT  5EJYCT\G2CVKPCUGJTUEJÌP



2'.12100'575

631

632 630

629 1,5:1



5+%;10+# 5+-;10 Õ5VCVGT  X %JT  I %JKO·TG N+P -TCP\ 6CWDG HNKGIV N   $/%50)%QRXGTIN 9KP\2TÒHGKPJKGDMN)TCHHKVKUGJTUEJÌP





Õ5VCVGT  ,CJTJWPFGTV X %JT  I %JKO·TG T+P -TCP\ 6CWDG HNKGIV N $/%  XGTIN    50)%QR (CUVXQT\ÒINKEJ





Õ*GOKFTCEJOG,CJTJWPFGTVX%JTI%JKO·TGN6CWDGHNKGIVN$/%50)%QR XGTINHH )WVGUUGJTUEJÌP





#%*#+##EJCKUEJG.KICÕ*GOKFTCEJOGPCEJX%JT#KIKQP/CIKUVTCV#TKUVQFCOQUI -QRHFGU<GWU#OCTKQUTOKV.QTDGGTMTCP\+P-TCP\/QPQITCOO$/%50)%QR  5GJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC

 77


633

634



634

Õ*GOKFTCEJOGPCEJX%JT1N[ORKC/CIKUVTCV-CNNKRRQUI-QRHFGU<GWU#OCTKQUT OKV.QTDGGTMTCP\+O-TCP\/QPQITCOOFCTWPVGT$NKV\$/%50)%QR 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP/ÒP\<GPVTWO-ÌNP0T



'.+51.;/2+#Õ5VCVGT1N[ORKCFGX%JT*GTCVGORGNI*GTCMQRHTOKV5VG RJCPG+P1NKXGPMTCP\$NKV\5GNVOCP5NI$%&XGTIN 4.GKEJVFG\GPVTKGTVUGJTUEJÌP

635

1,5:1



636

1,5:1



/'55'0+# /'55'0' Õ6GVTQDQN  X %JT /CIKUVTCV #KPGUKCU  I <GWUMQRH T   &TGKHWUU$/% .GKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ





#4%#&+# #TMCFKUEJGT $WPF Õ*GOKFTCEJOG  X %JT /CPVKPGKC  I <GWU UKV\V N   OKV<GRVGTWPF#FNGT9GKDNKEJGT-QRHT9KNNKCOU 5EJÌPUGJTUEJÌP



%4'6#

637 Æ

639

638



#26'4# “U  ,CJTJWPFGTV X %JT  I 9GKDNKEJGT -QRH T/QPQITCOO 50) %QR    5XQTQPQUXGTIN &WPMGNITÒPG2CVKPCHCUVUGJTUEJÌP



)146;0# Õ5VCVGT PCEJ  X %JT  I 'WTQRC UKV\V T CWH $CWO WPVGP #FNGTMQRH   5VKGTUVGJVT\WTÒEMDNKEMGPF.G4KFGT2N:8+++5XQTQPQU -N-TCV\GTIWVGUUGJTUEJÌP 



Õ&TCEJOG  X %JT  I -QRH FGU <GWU QFGT /KPQU!  T0CEMVGT -TKGIGT )QTV[U !    UVGJVNOKV5EJKNFWPF.CP\GFCXQT#50)%QRXGTIN5XQTQPQU  .GKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ

641



640





641

-015515 Õ&TCEJOG WO  X %JT  I *GTCMQRH N OKV 2QNQU.CD[TKPVJ \YKUEJGP #2   5XQTQPQU 44(GKPGT5VKNHCUVUGJTUEJÌP



.CD[TKPVJ DGFGWVGV WTURTÒPINKEJ GVYC *CWU FGT &QRRGN·ZVG  FKGUG YCTGP GKP YGKV XGTDTGKVGVGU 5[ODQN FGT   OKPQKUEJGP -WNVWT WPF FKG MTGVKUEJGP 2CN·UVG YCTGP ÒRRKI FCOKV CWUIGUEJOÒEMV &GP HTÒJGP )TKGEJGP OW­ FGT   2CNCUV XQP -PQUUQU KP UGKPGT )TÌ­G CDGT WPJGKONKEJ GTUEJKGPGP UGKP UQ FC­ FGT $GITKHH .CD[TKPVJ UGKPG JGWVKIG   $GFGWVWPI +TTICTVGP CPPCJO



-;&10+# Õ&KFTCEJOG  X %JT UKIPKGTV XQP 0GWCPVQU  I 0[ORJGPMQRH T OKV   -TCP\ CWU 9GKPNCWD FCJKPVGT 5KIPCVWT ! -[FQP UVGJV N WPF URCPPV UGKPGP $QIGP .G 4KFGT   2N+:50)&GNGRKGTTG5XQTQPQU 45GJTUEJÌP  &CU UEJÌPG 5VÒEM KUV PKEJV PWT OKV FGO 0COGP FGU -ÒPUVNGTU UKIPKGTV YKG GVYC DGK FGP UKIPKGTVGP UK\KNKUEJGP   /ÒP\GP UQPFGTP 0GWCPVQU JCV ICP\ MNCT EPOIEI JCV GU IGOCEJV  JKP\WIGUGV\V UQ FC­ GT FGT -ÒPUVNGT PKEJV   GVYCOKVGKPGO/CIKUVTCVXGTYGEJUGNVYGTFGPMCPP

78


642

643



21.;4*'0+10 Õ&TCEJOG  ,CJTJWPFGTV X %JT  I )GUEJOÒEMVGT 5VKGTMQRH X X   5RGGTURKV\G.G4KFGTXGTIN2N::8+++HH5XQTQPQU #XGTUNGKEJVFG\GPVTKGTVUGJTUEJÌP



6;.+515 Õ5VCVGT  ,CJTJWPFGTVX%JTI*GTCMQRHTOKV5VGRJCPG#RQNNQUVGJVNOKV <KGIGPMQRHWPF$QIGPFCXQT5VTCWEJ5XQTQPQU 5GJTUEJÌP

 

-;-.#&'0

644 Æ

645

1,5:1

645



#0&415 “U PCEJ  X %JT  I &KQP[UKQUMQRH T OKV 'HGWMTCP\ANDRI WO #ORJQTG   $/%2CUEJCNKU50)%QR 4$TCWPG2CVKPCUGJTUEJÌP





2#415 Õ1DQN !  WO  X %JT  I <KGIG MPKGV T8KGTIGVGKNVGU +PEWUWO 50) #05   

/CEGFQPKC 50)%QR /CEGFQPKC  5GJTUEJÌP



&KG <WYGKUWPI FKGUGT 5VÒEMG KUV PKEJV IGUKEJGTV &KG <KGIG GPVURTKEJV LGFQEJ FGP &CTUVGNNWPIGP CWH CPFGTGP   2T·IWPIGPXQP2CTQUCWUFKGUGT<GKV

210675

1,5:1



1,5:1

#/+575 Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT  I *GTCMQRH T OKV 5VGRJCPG'WNG CWH   5EJKNFXX50)$/ (GKPIGVÌPVUGJTUEJÌPpXQT\ÒINKEJ

647



646

648



649

-¤0+)4'+%* /KVJTCFCVGU 8+  X %JT Õ6GVTCFTCEJOG ,CJT    X %JT    I-QRHTOKV&KCFGO2GICUWUYGKFGVNKP'HGWMTCP\9CFFKPIVQP4GEIGP  #XGTUCO4CPFNGKEJVMQTTQFKGTVUQPUVXQT\ÒINKEJGU'ZGORNCTOKVHGKPGT2CVKPC  'ZGORNCTFGT#WMVKQP-TKEJGNFQTH$GTNKP0T  /KVJTCFCVGU8+FGTNGV\VGITQ­G)GIPGTFGT4ÌOGT\GKIVCWHUGKPGP/ÒP\GPGKP2QTVT·VOKVHNKGIGPFGP*CCTGPXQP HCUVDCTQEMGO5VKN



Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV &KCFGO2GICUWU YGKFGV N KP   'HGWMTCP\9CFFKPIVQP4GEIGP -QTTQFKGTVNGKEJVGT&QRRGNUEJNCICWHFGO4GXGTUUGJTUEJÌP



Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV &KCFGO*KTUEJ YGKFGV N KP   'HGWMTCP\9CFFKPIVQP4GEIGP 8QT\ÒINKEJ 



79


650



Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV &KCFGO*KTUEJ YGKFGV N KP   'HGWMTCP\9CFFKPIVQP4GEIGP 9CPIGOKPDGTKGDGPXQT\ÒINKEJ 

2#2*.#)10+#

652

651

653

655

654



#/#564+5 Õ&KFTCEJOG WO  X %JT  I -QRH T OKV RJT[IKUEJGT /ÒV\G#RJTQFKVG   UKV\VNOKV0KMGWPF<GRVGTFCXQT4QUG50)$/ 9KP\)TCHHKVQCWHFGO4GXGTUUGJTUEJÌP





%41/0# Õ&TCEJOG  ,CJTJWPFGTV X %JT  I <GWUMQRH N OKV .QTDGGTMTCP\*GTCMQRH N   OKV5VGRJCPG50)$/9CFFKPIVQP4GEIGP 9KP\-TCV\GTXQT\ÒINKEJ





5+012' Õ&TCEJOG  X %JT /CIKUVTCV -CNNKC    I 0[ORJGPMQRH N#FNGT CWH   &GNRJKPN50)$/ 8QT\ÒINKEJ





Õ&TCEJOG  X %JT /CIKUVTCV #ITGQU  I 0[ORJGPMQRH N#FNGT CWH &GNRJKP N   50)$/ 8QT\ÒINKEJ





Õ&TCEJOG  X %JT /CIKUVTCV #ITGQU !   I 0[ORJGPMQRH N#FNGT CWH &GNRJKP N   50)$/XGTIN (CUVXQT\ÒINKEJ



$+6*;0+#

656

657

657



-#.%*'&10 Õ6GVTCFTCEJOG  X %JT  I 5VKGT UVGJV N CWH JTG FCXQT $8KGT   IGVGKNVGUITCPWNKGTVGU+PEWUWO50)$/ 5GJTUEJÌPpXQT\ÒINKEJ 



Õ6GVTCFTCEJOGPCEJ.[UKOCEJQU6[RXQTX%JTI#NGZCPFGTMQRHTOKV&KCFGOWPF #OOQPUJQTP#VJGPC0KMGRJQTQUUKV\VN5G[TKIKP'UUC[U4QDKPUQPXGTIN2N  -N-TCV\GTUGJTUEJÌPpXQT\ÒINKEJ

1,5:1

 80

658 Å



1,5:1

Ô5VCVGTPCEJ.[UKOCEJQU6[RX%JTI#NGZCPFGTMQRHTOKV&KCFGOWPF#OOQPU JQTP#VJGPC0KMGRJQTQUUKV\VN5G[TKIKP'UUC[U4QDKPUQPXGTIN2N 48QT\ÒINKEJ




659 1,5:1

1,5:1



-+15 Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT /CIKUVTCV 2TQZGPQU  I #RQNNQMQRH T2TQTC   N50)%QR9CFFKPIVQP4GEIGP 5GJTUEJÌP



660

1,5:1

1,5:1



-¤0+)4'+%* 2TWUKCU +  X %JT Õ6GVTCFTCEJOG  I -QRH T OKV &KCFGO   <GWU5VTCVKQUUVGJVNOKV-TCP\WPF<GRVGTFCXQT$NKV\9CFFKPIVQP4GEIGP  *GTTNKEJGU2QTVT·VMN5EJTÌVNKPIUHGJNGTXQT\ÒINKEJ 

661



662

663

664

0KMQOGFGU++X%JTÕ6GVTCFTCEJOG,CJT X%JT I-QRHTOKV &KCFGO<GWU 5VTCVKQU UVGJV N OKV <GRVGT -ÌPKIUPCOGP DGMT·P\GPF FCXQT #FNGT CWH $NKV\ ÒDGT   /QPQITCOO9CFFKPIVQP4GEIGP 5GJTUEJÌP



0KMQOGFGU +++X%JT Õ6GVTCFTCEJOG,CJT X%JT I-QRHTOKV &KCFGO<GWU 5VTCVKQU UVGJV N OKV <GRVGT WPF -TCP\ FCXQT #FNGT N CWH $NKV\ ÒDGT /QPQITCOO   9CFFKPIVQP4GEIGP .GKEJVMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG ,CJT     X %JT   I -QRH T OKV &KCFGO<GWU 5VTCVKQU UVGJV N   OKV<GRVGTWPF-TCP\FCXQT#FNGTCWH$NKV\N9CFFKPIVQP4GEIGP 5GJTUEJÌP





Õ6GVTCFTCEJOG,CJT X%JT I-QRHTOKV&KCFGO<GWU5VTCVKQUUVGJVNOKV <GRVGTWPF-TCP\FCXQT#FNGTNCWH$NKV\ÒDGT/QPQITCOO9CFFKPIVQP4GEIGP 5GJTUEJÌP





81


666

665









668

667

Õ6GVTCFTCEJOG,CJT X%JT I-QRHTOKV&KCFGO<GWUUVGJVNOKV-TCP\ WPF<GRVGTFCXQT#FNGTCWH$NKV\9CFFKPIVQP4GEIGP  4)WVGU2QTVT·VNGKEJVWPTGIGNO·­KIGT4CPFXQT\ÒINKEJ



0KMQOGFGU +8  X %JT Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV   &KCFGO<GWU UVGJV N OKV <GRVGT FGP 0COGP FGU -ÌPKIU DGMT·P\GPF FCXQT #FNGT CWH $NKV\ N 9CF   FKPIVQP4GEIGP 5GJTUEJÌP



Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV &KCFGO<GWU UVGJV N OKV   <GRVGTFGP0COGPFGU-ÌPKIUDGMT·P\GPFFCXQT#FNGTCWH$NKV\N9CFFKPIVQP4GEIGP  -N5VGORGNDTWEJXQT\ÒINKEJ



Õ6GVTCFTCEJOG ,CJT    X %JT   I -QRH T OKV &KCFGO<GWU UVGJV N OKV <GR   VGT FGP 0COGP FGU -ÌPKIU DGMT·P\GPF FCXQT #FNGT CWH $NKV\ N 9CFFKPIVQP 4GE IGP XGTIN   

/QPQITCOOHGJNV  $TGKVGU'ZGORNCTIWVGUUGJTUEJÌP



/;5+#

669 Æ

670 Æ

1,5:1

1,5:1

1,5:1

1,5:1



#&4#/;66'+10 “U WO  X %JT  I <GWUMQRH X X OKV .QTDGGTMTCP\#FNGT UVGJV T   CWH#NVCTX(TKV\GKP0QOKUOC8 (CUVXQT\ÒINKEJ





“U WO  X %JT  I <GWUMQRH T OKV .QTDGGTMTCP\2GICUWURTQVQOG T FCTWPVGT ADRA X   (TKV\GKP0QOKUOC8 (CUVXQT\ÒINKEJ



1,5:1



671 Æ

1,5:1

#56;4# 6KUUCRJGTPGU 5CVTCR WO  X %JT “U  X %JT  I #VJGPCMQRH T KO   CVVKUEJGP*GNO-WNVDKNFFGT#TVGOKU#UV[TGPGXX-NGKP 4&WPMGNITÒPG2CVKPCUGJTUEJÌP 6KUUCRJGTPGU URKGNVG GKPG DGFGWVGPFG 4QNNG KP FGT RGTUKUEJGP 2QNKVKM 5GKP CW­GPRQNKVKUEJGT 'KPHNW­ JCV \ $ PKEJV   WPYGUGPVNKEJG #WUYKTMWPIGP CWH FGP #WUICPI FGU RGNQRQPPGUKUEJGP -TKGIGU IGJCDV +O -TKGI FGU #TVCZGTZGU   IGIGPFGP2TKP\GP-[TQUYCT6KUUCRJGTPGUGKPGTFGTXKGT(GNFJGTTGPFGU#TVCZGTZGUWPFJCV\WFGUUGP5KGIKPFGT 5EJNCEJV DGK -WPCZC GPVUEJGKFGPF DGKIGVTCIGP :GPQRJQP #PCDCUKU +   H   X %JT YWTFG 6KUUCRJGTPGU   JKPIGTKEJVGVYQJNXQTCNNGOYGIGPUGKPGT0KGFGTNCIGPIGIGPFCUURCTVCPKUEJG*GGTFGU#IGUKNCQUKP-NGKPCUKGP

82




674 El 673 El

672 El



675 El

1,5:1

1,5:1

-;<+-15'N5VCVGTX%JTI.ÌYGPMQRHXXOKV6JWPHKUEJKO/CWN9KPFOÒJNGP HNÒIGNCTVKIGU+PEWUWOX(TKV\G*WTVGT.KGYCNF0GWG0QOKPCNGKPFGT'NGMVTQPRT·IWPIXQP-[\KMQU KP504  9CIIQPGT4QUGP%QNNXGTIN CPFGTGU0QOKPCN  (CUVUGJTUEJÌP



-[\KMQU DGJGTTUEJVG \WUCOOGP OKV .CORUCMQU FGP *CPFGN OKV FGP -ÒUVGP FGU 5EJYCT\GP /GGTGU )NGKEJ\GKVKI   YCT GU <GPVTWO FGU 6JWPHKUEJ(CPIGU FGT GKPG ·JPNKEJG $GFGWVWPI JCVVG YKG FGT *GTKPIUHCPI KO /KVVGNCNVGT &KG   'NGMVTQPUVCVGTG YWTFGP XQO  DKU \WO  ,CJTJWPFGTV IGRT·IV -[\KMQU YCT FKG GKP\KIG 5VCFV FGU CVVKUEJGP   5GGDWPFGUFKGPGDGP#VJGPRT·IGPFWTHVG&GT'NGMVTQPUVCVGTGPVURTCEJ&TCEJOGPQFGTUGEJU6GVTCFTCEJOGP



'N*GMVG  X %JT  I )GHNÒIGNVG .ÌYGPRTQVQOG N8KGTIGVGKNVGU +PEWUWO X (TKV\G    9CIIQPGT4QUGP%QNN 5GJTUEJÌP





'N 5VCVGT  X %JT  I #VVKUMQRH T OKV RJT[IKUEJGT /ÒV\G8KGTIGVGKNVGU +PEWUWO   X(TKV\G QJPGFKGUGU0QOKPCN 9CIIQPGT4QUGP%QNN 445GJTUEJÌP



'ZGORNCTFGT#WMVKQP/ÒP\GPWPF/GFCKNNGP#)$CUGN0T



Õ*GOKQDQNX%JTI#VVKUMQRHNOKVRJT[IKUEJGT/ÒV\G5VKGTMQRHTX(TKV\G -NGKP 45GJTUEJÌP



676 Æ



“U,CJTJWPFGTVI-QRHFGU*GTQU-[\KMQUT<YGKUEJNCPIGPWOYWPFGPG(CEMGNPFC\YK UEJGP#NVCTX(TKV\G)TWRRG8D )TÒPDTCWPG2CVKPCUGJTUEJÌP

677 El



1,5:1



677 El

.#/25#-15'N5VCVGTWOX%JTI2GICUQURTQVQOGNWOIGDGPXQPGKPGT9GKPTCPMG 8KGTIGVGKNVGU+PEWUWO$CNFYKP)TWRRG++XGTIN2N+ 5GJTUEJÌPGU'ZGORNCT  .CORUCMQU CO PÌTFNKEJGP 'KPICPI \WO *GNNGURQPV IGNGIGP YCT \WUCOOGP OKV -[\KMQU GKPGT FGT 8QTQTVG HÒT   FGP *CPFGN OKV FGP 4CPFXÌNMGTP FGU 5EJYCT\GP /GGTGU &KGUG DGXQT\WIVGP /ÒP\GP CWU 'NGMVTQP WPF FGUJCND   YWTFGP KP .CORUCMQU PQEJ NCPIG 'NGMVTQP5VCVGTG IGRT·IV CNU UKG KP -NGKPCUKGP UEJQP N·PIUV CW­GT )GDTCWEJ IG   MQOOGPYCTGP

679 678 El

680



'N5VCVGT WO  X %JT  I 2GICUWURTQVQOG N WOIGDGP XQP GKPGT 9GKPTCPMG8KGTIGVGKNVGU   +PEWUWO(TCPMG*KTOGTXGTIN6H$CNFYKP)TWRRG++XGTIN2N+  44-N4CPFTKUUGNGKEJVFG\GPVTKGTVUGJTUEJÌP 



2#4+10 Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT  I 5VKGT UVGJV N \WTÒEMDNKEMGPF)QTIQ   PGKQP50)X#WNQEM 5GJTUEJÌP





2'4)#/105VCFVÕ%KUVQRJQTX%JTI%KUVCO[UVKECKP'HGWMTCP\<YGK5EJNCP IGPWO-ÌEJGTQDGP+'T5EJNCPIGPUVCD50)X#WNQEM 8QT\ÒINKEJ

 83


683

682

681



Õ%KUVQRJQT  X %JT  I %KUVC O[UVKEC KP 'HGWMTCP\<YGK 5EJNCPIGP WO -ÌEJGT   QDGPLST5EJNCPIGPUVCD$/%50)X#WNQEM50)%QR 5GJTUEJÌP





Õ%KUVQRJQT  X %JT  I %KUVC O[UVKEC KP 'HGWMTCP\<YGK 5EJNCPIGP WO -ÌEJGT   QDGP/QPQITCOOT5EJNCPIGPUVCD50)X#WNQEM50)%QR 5GJTUEJÌP





Õ%KUVQRJQT  X %JT 3W·UVQT / #PVQPKWU / H  I %KUVC O[UVKEC KP 'HGWMTCP\   <YGK 5EJNCPIGP WO -ÌEJGT QDGP /QPQITCOO T 5EJNCPIGPUVCD 5VWORH 0WOKUOCVKUEJG 5VWFKGP   \WT%JTQPQNQIKGFGTTÌOKUEJGP5VCVVJCNVGTKP-NGKPCUKGP X%JTP%JT  5GJTUEJÌP



&KGUGU 5VÒEM KUV CWEJ . #PVQPKWU 3WCUVQT RTQ RTCGVQTG KP #UKC  X %JT UQYKG GKPGO 3WCGUVQT #VTCVKPWU  

UKGJG$NQGUEJ9KPVGTVJWT \WIGYKGUGPYQTFGP9KTHQNIGPDGKFGT<WYGKUWPI)GTF45VWORH

684



685

-¤0+)4'+%* #VVCNQU +  X %JT Õ6GVTCFTCEJOG  I -QRH FGU 2JKNGVCKTQU T OKV   .QTDGGTMTCP\#VJGPC5VGRJCPQRJQTQUUKV\VNFCXQT$KGPGWPF/QPQITCOOFCJKPVGT$QIGP9GUVGT OCTM)TWRRG8+# 8%8++4  5GJTUEJÌP



'ZGORNCTFGT9GDGT%QNN0TWPFFGT#WMVKQP#TU%NCUUKEC+8)GPH0T



Õ6GVTCFTCEJOG  I -QRH FGU 2JKNGVCKTQU T OKV .QTDGGTMTCP\#VJGPC 5VGRJCPQRJQTQU UKV\V N   FCXQT$KGPGWPF/QPQITCOOFCJKPVGT$QIGP9GUVGTOCTM)TWRRG8+#8%84 5GJTUEJÌP

686

687

688



689



Õ6GVTCFTCEJOGI-QRHFGU2JKNGVCKTQUTOKV.QTDGGTMTCP\#VJGPC5VGRJCPQRJQTQUUKV\VNFCXQT 9GKPVTCWDGWPF#FCJKPVGT$QIGP9GUVGTOCTM)TWRRG+8$8.::8+4 5GJTUEJÌPpXQT\ÒINKEJ





Õ6GVTCFTCEJOG  I -QRH FGU 2JKNGVCKTQU T OKV .QTDGGTMTCP\#VJGPC 5VGRJCPQRJQTQU UKV\V N   FCXQT'HGWDNCVVWPF#FCJKPVGT$QIGP9GUVGTOCTM)TWRRG+8#8:::+4 5GJTUEJÌP





Õ6GVTCFTCEJOG  I -QRH FGU 2JKNGVCKTQU T OKV .QTDGGTMTCP\#VJGPC 5VGRJCPQRJQTQU UKV\V N   FCXQT9GKPVTCWDGWPF#FCJKPVGT$QIGP9GUVGTOCTM)TWRRG+8$ 5GJTUEJÌP





Õ6GVTCFTCEJOG  I -QRH FGU 2JKNGVCKTQU T OKV .QTDGGTMTCP\#VJGPC 5VGRJCPQRJQTQU UKV\V N   FCXQT'HGWDNCVVFCJKPVGT$QIGP9GUVGTOCTM)TWRRG+8#8:::8++4 5GJTUEJÌP



84


641#5

690

691 Æ

692 Æ



#$;&15 Õ&TCEJOG  X %JT /CIKUVTCV #PCZKMNGU  I #RQNNQMQRH T OKV .QTDGGT   MTCP\#FNGTUVGJVNFCXQT-CPVJCTQU$/%50)X#WNQEM50)%QR 5GJTUEJÌP





#.':#0&4+# “U  ,CJTJWPFGTV P %JT  I 6[EJGMQRH T OKV /CWGTMTQPG FCJKPVGT 8GZKN   NWO#FNGTUVGJVXXCWH5VKGTMQRH50)%QRXCT50)X#WNQEMXCT  )N·P\GPFGITÒPG2CVKPCXQT\ÒINKEJ



$+4;6+5“UWOX%JTI-QRHGKPGU-CDKTGPNOKV2KNGWUQDGPNWPFTLGGKP5VGTP -GWNGKP-TCP\50)%QR50)X#WNQEM 5GJTUEJÌP





693

694 Æ

1,5:1

1,5:1

1,5:1



-'$4'0Õ1DQN,CJTJWPFGTVX%JTI9KFFGTMQRHT+PEWUWO-NGKP



5-'25+5“U,CJTJWPFGTVX%JTI2GICUWURTQVQOGT(ÌJTGKP3WCFTCV50)%QR )TÒPG2CVKPCUGJTUEJÌP

5GJTUEJÌP

 

#'1.+5

695 Æ

696 1,5:1 697

1,5:1



#+)#+ “U  ,CJTJWPFGTV X %JT  I *GTOGUMQRH T OKV 2GVCUQU<KGIGPRTQVQOG T 50)   %QRXGTIN50)X#WNQEM 5GJTUEJÌP





-;/' Õ&KQDQN  X %JT  I 2HGTFGMQRH T8KGTIGVGKNVGU +PEWUWO -NGKP XGTIN   

*GOKQDQN  5GJTUEJÌP





Õ6GVTCFTCEJOG PCEJ  X %JT /CIKUVTCV 1N[ORKQU  I -QRH FGT #OC\QPG -[OG T OKV   6CGPKG+P.QTDGGTMTCP\2HGTFUVGJVTFCXQT5M[RJQU1CMNG[KP#05/0 8QT\ÒINKEJ



698

699



��6GVTCFTCEJOG PCEJ  X %JT /CIKUVTCV 1N[ORKQU  I -QRH FGT #OC\QPG -[OG T OKV   6CGPKG+P.QTDGGTMTCP\2HGTFUVGJVTFCXQT5M[RJQU1CMNG[KP#05/0 8QT\ÒINKEJ





Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV/GVTQRJCPGUI-QRHFGT#OC\QPG-[OGTOKV 6CGPKG+P.QTDGGTMTCP\2HGTFUVGJVTFCXQT5M[RJQU1CMNG[KP#05/0 8QT\ÒINKEJ

 85


701

700

703

702

704 Æ



Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV/GVTQRJCPGUI-QRHFGT#OC\QPG-[OGTOKV 6CGPKG+P.QTDGGTMTCP\2HGTFUVGJVTFCXQT5M[RJQU1CMNG[KP#05/0 5GJTUEJÌP





Õ6GVTCFTCEJOG  X %JT /CIKUVTCV &KQIGPGU  I -QRH FGT #OC\QPG -[OG T OKV   6CGPKG+O.QTDGGTMTCP\2HGTFUVGJVTFCXQT5M[RJQU1CMNG[KP#05/0  )WVGUUGJTUEJÌP



/;4+0#Õ6GVTCFTCEJOG,CJTJWPFGTVX%JTI#RQNNQMQRHT+P.QTDGGTMTCP\#RQNNQ XQP)T[PGKQPUVGJVTOKV2CVGTCWPF.QTDGGT\YGKIOKVJGTCDJ·PIGPFGP6CGPKGPFCXQT1ORJCNQUWPF -CPVJCTQU5CEMU *QJGU4GNKGHCVVTCMVKXGU'ZGORNCTIWVGUUGJTUEJÌP





&GT#RQNNQXQP)T[PGKQPJCVYKG8GTIKNKPFGT#GPGKUCPIKDVFGO#GPGCUDGHQJNGPPCEJ+VCNKGP\WGKNGP





Õ6GVTCFTCEJOG  ,CJTJWPFGTV X %JT  I #RQNNQMQRH T+P .QTDGGTMTCP\ #RQNNQ XQP )T[   PGKQPUVGJVTOKV2CVGTCWPF.QTDGGT\YGKIOKVJGTCDJ·PIGPFGP6CGPKGPFCXQT1ORJCNQUWPF-CPVJC TQU5CEMU 5GJTUEJÌP



0'106'+%*15“U,CJTJWPFGTVX%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO'WNGUVGJVT -NGKP50)X#WNQEM 4&WPMGNITÒPG2CVKPCIWVGUUGJTUEJÌP



.'5$15

705 B



70$'-#006'/ª0<5666'$5VCVGTWOX%JTI<YGK-CNDUMÌRHGGKPCPFGTIG IGPÒDGTFC\YKUEJGP1NKXGPDCWO+PEWUWO50)%QR50)/ÒPEJGP50)X#WNQEM 9CIIQPGT4QUGP%QNN &WPMGNIGVÌPVUGJTUEJÌP

706 El

1,5:1





707 El

1,5:1

1,5:1

1,5:1

/;6+.'0''N*GMVGX%JTI5CV[TMQRHT<YGK9KFFGTMÌRHGGKPCPFGTIGIGPÒDGT FCTÒDGT2CNOGVVG$QFGPUVGFV #XH4X h  45GJTUEJÌP



'ZGORNCTFGT#WMVKQP*KTUEJ0CEJH/ÒPEJGP0T

 86

'N*GMVG  X %JT  I 2QUGKFQPMQRH T OKV .QTDGGTMTCP\&TGK\CEM $QFGPUVGFV  8U   4U g  45GJTUEJÌP




+10+#

708 El 1,5:1

709 El 1,5:1

710 El 1,5:1

1,5:1

1,5:1

1,5:1



70$'56+//6' /ª0<5666' 'N 5VCVGT  ,CJTJWPFGTV X %JT  I .ÌYGPMQRH T   +PEWUWO50)X#WNQEM9CIIQPGT4QUGP%QNN9GKFCWGT 5GJTUEJÌP





'N5VCVGT,CJTJWPFGTVX%JTI9KFFGTMQRHN3WCFTCVWOKPEWUWO$CDGNQP6TCKV¾ 50)X#WNQEMXGTIN 5VCVGT 9CIIQPGT4QUGP%QNN9GKFCWGTXGTINHH  (CUVXQT\ÒINKEJ



'N5VCVGT,CJTJWPFGTVX%JTI5YCUVKMC ! 8KGTIGVGKNVGU+PEWUWO50)X#WNQEM XGTIN9CIIQPGT4QUGP%QNNXGTIN9GKFCWGT 5GJTUEJÌP





711 El 1,5:1

713 El 1,5:1

712 El

1,5:1

712 El

1,5:1

1,5:1



'N5VCVGT,CJTJWPFGTVX%JTI.ÌYGPOCUMGXX+PEWUWO8GTIN50)X#WNQEM XGTIN50)-C[JCP 5GJTUEJÌP





'N5VCVGT,CJTJWPFGTVX%JTI.ÌYGPOCUMGXX+PEWUWO8GTIN50)X#WNQEM XGTIN50)-C[JCP 5GJTUEJÌP





'N5VCVGT,CJTJWPFGTVX%JTI.ÌYGPMQRHT+PEWUWO9CIIQPGT4QUGP%QNN 9GKFCWGT 5GJTUEJÌP



715 El

714 El 1,5:1

1,5:1

1,5:1

716 El 1,5:1

1,5:1

1,5:1



'N 5VCVGT  ,CJTJWPFGTV X %JT  I 6KGTMQRH !  N1TPCOGPV KP 3WCFTCVWO KPEWUWO   $CDGNQP6TCKV¾50)X#WNQEM50)%QR9CIIQPGT4QUGP%QNN9GKFCWGT 5GJTUEJÌP





'N5VCVGT,CJTJWPFGTVX%JTI2HGTFGMQRHN-TGW\KO3WCFTCVWOKPEWUWO$CDG NQP6TCKV¾50)X#WNQEM9CIIQPGT4QUGP%QNN9GKFCWGTXGTIN 5GJTUEJÌP





'N5VCVGTWOX%JTI5VKGTUVGJVT\WTÒEMDNKEMGPF+PEWUWO9CIIQPGT4QUGP%QNN  FKGU'ZGORNCT  48QT\ÒINKEJ





'2*'515 2KPFCTQU WO  X %JT 'N 5VCVGT  X %JT  I .ÌYGPVCV\G   +PEWUWO-CTYKGUG5GTKG6[R&C\W\YGKYGKVGTG'+5VCVGTCWU-NGKPCUKGP .ÌYGPVCV\GXX 5MQTRKQPKP+PEWUWO9CIIQPGT4QUGP%QNN2HGTFGRTQVQON+PEWUWO  5VÒEM5GJTUEJÌP



&GT.[FGTMÌPKI#N[CVVGUJCVVGGKPGUGKPGT6ÌEJVGTOKVFGOGRJGUKUEJGP6[TCPPGP/GNCUXGTJGKTCVGV&KGUGOHQNIVG UGKP5QJP2KPFCTQUPCEJFGTUKEJLGFQEJDCNFKO-TKGIOKVUGKPGO1PMGN-TQKUQUDGHCPFFGTGKPGCIITGUUKXGPCEJ 9GUVGPCWUIGTKEJVGVG'ZRCPUKQPURQNKVKMDGVTKGD9·JTGPFFGT$GNCIGTWPIFGT5VCFV'RJGUQUJCPFGNVG2KPFCTQUGKPGP 8GTINGKEJOKV-TQKUQUCWUWPFIKPIWPVGT<WTÒEMNCUUWPIUGKPGU$GUKV\GUKPU'ZKN

718 El 1,5:1

1,5:1 719



1,5:1

719

'N5VCVGTX%JTI.ÌYGPVCV\G+PEWUWO-CTYKGUG5GTKG FKGU'ZGORNCT  8QT\ÒINKEJ



5VCFVÕ&TCEJOGX%JTI$KGPG8KGTIGVGKNVGU+PEWUWO$/%



'ZGORNCTFGT.CIGTNKUVG/ÒP\GPWPF/GFCKNNGP#)$CUGN0T



(CUVXQT\ÒINKEJ

87


720

1,5:1



1,5:1

721

1,5:1

1,5:1

Õ*GOKFTCEJOG WO  X %JT /CIKUVTCV 6KOGUKCPCZ  I $KGPG8KGTIGVGKNVGU +PEWUWO CWH   GKPGT$CPFNGKUVG/CIKUVTCVGPPCOG$/%*GCFKP0%50)%QR 5GJTUEJÌP



8QP6KOGUKCPCZYCTGPDKUNCPI6GVTCFTCEJOGPWPF&TCEJOGPDGMCPPV UKGJG0%5 



Õ&KQDQNX%JTI$KGPG<YGK*KTUEJMÌRHGGKPCPFGTIGIGPÒDGT50)-C[JCPHH 5GJTUEJÌP

723

722

724



725



Õ6GVTCFTCEJOG  X %JT /CIKUVTCV 'RKPKMQU  I $KGPG*KTUEJRTQVQOG T \WTÒEM   DNKEMGPFFCJKPVGT2CNOG$/%+OJQQH$NWOGT-NGKPCUKCVKUEJG/ÒP\GP5 5GJTUEJÌP





Õ6GVTCFTCEJOGX%JTI$KGPG*KTUEJRTQVQOGTFCJKPVGT2CNOGFCXQTMAROS $/%50)%QR50)X#WNQEM 45GJTUEJÌP



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT0T



Õ6GVTCFTCEJOG  X %JT /CIKUVTCV <GPQFQVQU  I $KGPG*KTUEJRTQVQOG T \WTÒEM   DNKEMGPFFCJKPVGT2CNOG$/% 5GJTUEJÌPGU'ZGORNCT





Õ&KFTCEJOG  X %JT /CIKUVTCV $CVVCU  I #TVGOKUMQRH T OKV 5VGRJCPG ÒDGT FGT   5EJWNVGT$QIGPWPF-ÌEJGT*KTUEJRTQVQOGT-QRH\WTÒEMIGYCPFV$/%  5GJTUEJÌPpXQT\ÒINKEJ



726

727 El

1,5:1

727 El

726



Õ%KUVQRJQT ,CJT    X %JT   I %KUVC O[UVKEC KP 'HGWMTCP\<YGK 5EJNCPIGP WO   -ÌEJGTN#WPFEFEQDGP$KGPGT(CEMGN-NGKPGT0Që5GTKG 8QT\ÒINKEJ





'4;6*4#+ 'N*GMVG  5VCVGT   ,CJTJWPFGTV X %JT  I *GTCMNGUMQRH KO .ÌYGPHGNN N   8KGTIGVGKNVGU+PEWUWO50)X#WNQEM )WVGUUGJTUEJÌP



728



729 Æ

730

1,5:1

730

Õ&TCEJOG,CJTJWPFGTVX%JT/CIKUVTCV&KQRGKVJGUI*GTCMNGUMQRHKO.ÌYGPHGNNT-GWNG WPF$QIGPKP$QIGPVCUEJG$/%50)%QR50)X#WNQEM  44-PCRRGT5EJTÌVNKPIUGJTUEJÌP





-.#<1/'0#+ Õ&KFTCEJOG  X %JT  I )GHNÒIGNVG 'DGTRTQVQOG T8KGTIGVGKNVGU   +PEWUWO50)%QR50)X#WNQEM9CIIQPGT4QUGP%QNN 5GJTUEJÌP





“U,CJTJWPFGTVX%JTI#VJGPCMQRHTOKVCVVKUEJGO*GNO9KFFGTMQRHT50)%QR 50)X#WNQEM 5EJYCT\G2CVKPCUGJTUEJÌP



88


731

732 1,5:1

1,5:1

1,5:1

733 1,5:1

1,5:1

1,5:1



-1.12*10 Õ1DQN  ,CJTJWPFGTV X %JT  I #TEJCKUEJGT -QRH T+PEWUWO 50) $GTT[   XGTIN -QRHN 50)-C[JCPXGTIN 6GVCTVGOQTKQP  5GJTUEJÌP





Õ1DQN  ,CJTJWPFGTV X %JT  I #TEJCKUEJGT -QRH N+PEWUWO 50) $GTT[   

WPDGUVKOOVG/ÒP\UV·VVG 50)-C[JCPXGTIN *GOKQDQN  5GJTUEJÌP





Õ1DQN  ,CJTJWPFGTV X %JT  I #TEJCKUEJGT -QRH N+PEWUWO 50) $GTT[   

WPDGUVKOOVG/ÒP\UV·VVG 50)-C[JCPXGTIN *GOKQDQN  5GJTUEJÌP



734 1,5:1



736 1,5:1

735

1,5:1

1,5:1

Õ6GVCTVGOQTKQP  X %JT  I #RQNNQMQRH X X+O +PEWUWO 6' NKIKGTV  9GTVCP   ICDG -NGKP 5GJTUEJÌP



&KGUGU 5VÒEM IGJÌTV \W FGP YGPKIGP CPVKMGP /ÒP\GP FKG GKPG 9GTVCPICDG VTCIGP KP FKGUGO (CNNG 6' HÒT   6GVCTVGOQTKQP



Õ&TCEJOG  X %JT  I #RQNNQMQRH T OKV .QTDGGTMTCP\+P +PEWUWO .[TC /KNPG   XGTIN 5GJTUEJÌP





Õ6GVCTVGOQTKQPX%JTI#RQNNQMQRHTOKV.QTDGGTMTCP\+O+PEWUWO6' NKIKGTV 9GTVCPICDG N<KMCFG-NGKP 5GJTUEJÌP



&KGUGU 5VÒEM IGJÌTV \W FGP YGPKIGP CPVKMGP /ÒP\GP FKG GKPG 9GTVCPICDG VTCIGP KP FKGUGO (CNNG 6' HÒT   6GVCTVGOQTKQP



/#)0'5+# “U  ,CJTJWPFGTV X %JT /CIKUVTCV 2T[VCPKU  I .CP\GPTGKVGT T5VKGT UVÌ­V N   $/%XGTIN50)X#WNQEM50)%QRXGTINHH&C\W\YGKYGKVGTGMNGKPGTG“0QOKPCNG FKGUGT2QNKU 5VÒEM(CUVXQT\ÒINKEJ



738



Õ6GVTCFTCEJOG PCEJ  X %JT  I /CIKUVTCV 'TCUKRRQU 5QJP FGU  #TKUVGQU  I   #TVGOKUDÒUVGTOKV$QIGPWPF-ÌEJGT+P-TCP\0CEMVGT#RQNNQUVGJVNCWH/·CPFGTCP&TGKHW­IG NGJPVCWHFKGUGO-ÌEJGT$/%50)X#WNQEM #WUIG\GKEJPGVGT5VKNHGKPIGVÌPVXQT\ÒINKEJ



/ÌINKEJGTYGKUG YCTGP FKG CWH FGP OCIPGUKUEJGP /ÒP\GP IGPCPPVGP +PFKXKFWGP MGKPG #OVUVT·IGT UQPFGTP TGKEJG   /·PPGT FKG GKPG .GKVWTIGKC GKP 9GTM HÒT FGP 5VCCV KP FKGUGO (CNN GKPG 5RGPFG FKG FKG 2T·IWPI FGT /ÒP\GP   GTOÌINKEJVG XQNNDTCEJVGPWPFCWUFKGUGO)TWPFFWTEJFKG0GPPWPIKJTGU0COGPUCWHFGP/ÒP\GPIGGJTVYWTFGP 5KGJG,QPGU9TGCVJGF6GVTCFTCEJOGUQH/CIPGUKCKP#05/0  5HH

739 1,5:1



1,5:1

Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV'TCUKRRQU 5QJPFGU #TKUVGQUI#TVGOKUDÒUVGT OKV$QIGPWPF-ÌEJGT+P-TCP\0CEMVGT#RQNNQUVGJVNCWH/·CPFGTCP&TGKHW­IGNGJPVCWHFKGUGO -ÌEJGT$/%50)X#WNQEM50)%QR 8QT\ÒINKEJ

 89


740



741

742

Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV'TCUKRRQU 5QJPFGU #TKUVGQUI#TVGOKUDÒUVGT OKV$QIGPWPF-ÌEJGT+P-TCP\0CEMVGT#RQNNQUVGJVNCWH/·CPFGTCP&TGKHW­IGNGJPVCWHFKGUGO -ÌEJGT$/%50)X#WNQEM50)%QR 9KP\-TCV\GTXQT\ÒINKEJ





Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV2CWUCPKCU 5QJPFGU 2CWUCPKCUI#TVGOKUDÒUVG TOKV$QIGPWPF-ÌEJGT+P-TCP\0CEMVGT#RQNNQUVGJVNCWH/·CPFGTCP&TGKHW­IGNGJPVCWHFKGUGO -ÌEJGT$/%50)X#WNQEM50)%QR (CUVXQT\ÒINKEJ





Õ6GVTCFTCEJOGPCEJX%JT/CIKUVTCV*GTQIPGVQU 5QJPFGU <QR[TKQPI#TVGOKUDÒUVG TOKV$QIGPWPF-ÌEJGT+P-TCP\0CEMVGT#RQNNQUVGJVNCWH/·CPFGTCP&TGKHW­IGNGJPVCWHFKGUGO -ÌEJGT$/%50)X#WNQEM50)%QR /KPMQTTQFKGTVUGJTUEJÌPpXQT\ÒINKEJ



743

745 744

1,5:1

1,5:1

1,5:1



/+.'6Õ&KQDQNX%JTI.ÌYGPRTQVQOGN-QRHT+P+PEWUWO$NÒVGPQTPCOGPV -NGKP9CIIQPGT4QUGP%QNNXGTIN 5VGORGNHTKUEJGU2TCEJVGZGORNCT





2*1-#+#Õ*GOKFTCEJOG,CJTJWPFGTVX%JTI)TGKHGPRTQVQOGT+PEWUWO$CNEGTKP 504XGTIN2N &TCEJOG  8QPITQ­GT5GNVGPJGKV/KPMQTTQFKGTVUGJTUEJÌP



&KG<WYGKUWPIKUVPKEJVIGUKEJGTVGUM·OGCWEJ6GQUCNU/ÒP\UV·VVGKP$GVTCEJV



Õ*GOKFTCEJOG  ,CJTJWPFGTV X %JT  I )TGKHGPMQRH N+PEWUWO $CNEGT KP 504     XGTIN2N 5GJTUEJÌP

746 El

747 El 1,5:1



748 El

1,5:1

1,5:1



'N*GMVG 5VCVGT X%JTI#VJGPCMQRHNOKVCVVKUEJGO*GNO)TGKHCNU*GNO\KGT 8KGTIGVGKNVGU+PEWUWO$QFGPUVGFV 5GJTUEJÌP





'N*GMVG  5VCVGT   X %JT  I *GTCMQRH N OKV GKPGO OKV 2CNOGVVGP WPF #MCPVJQU   4CPMGPXGT\KGTVGP-CNCVJQU8KGTIGVGKNVGU+PEWUWO$QFGPUVGFV 5GJTUEJÌP





'N*GMVG  5VCVGT   X %JT  I 9GKDNKEJGT -QRH N FCTWPVGT 4QDDG8KGTIGVGKNVGU +P   EWUWO$QFGPUVGFV )WVGUUGJTUEJÌP

&CU/ÒP\DKNFKUVXQPFGP*GTCMÌRHGPFGT2T·IWPIGPCWU1N[ORKCKPURKTKGTV

90




750

749 Æ

751



5/;40# “U  X %JT /CIKUVTCV #RQNNQPKQU /CICU  I #RQNNQMQRH T*QOGT UKV\V N   OKV5EJTKHVTQNNGWPF<GRVGT50)%QR )TCWITÒPG2CVKPCHCUVXQT\ÒINKEJ





6'15Õ&TCEJOGX%JTI)TGKHUKV\VT8KGTIGVGKNVGU+PEWUWO$CNEGTKP504  FKGU'ZGORNCT  5GJTUEJÌP



'ZGORNCTFGT5NI2Q\\K#WMVKQP#TU%NCUUKEC)GPH0T



Õ5VCVGTX%JTI)TGKHUKV\VT8KGTIGVGKNVGU+PEWUWO$CNEGTKP504 7PDGFGWVGPFGT2TÒHGKPJKGDCO4CPFHCUVUGJTUEJÌP





Õ6TKJGOKQDQNX%JTI)TGKHUKV\VT8KGTIGVGKNVGUHNCEJGU+PEWUWO$CNEGTKP504   &C\WGKP6GVTQDQNCWU%JKQUWPFGKP6TKJGOKQDQNCWU5O[TPC 5VÒEM5GJTUEJÌP



753

753 1,5:1



Õ5VCVGT  X %JT  I )TGKH UKV\V T FCXQT PGITQKFGT -QRH T8KGTIGVGKNVGU +PEWUWO   $CNEGTKP504  #WMVKQP#WHJ·WUGT/ÒPEJGP0T 8QT\ÒINKEJ



$QFGPUVGFV 5 FGWVGVFKG0GIGTMÌRHGCWHHTÒJGPITKGEJKUEJGP/ÒP\GPCNUUCMTCNGU5KPPDKNFDGKFGP-WNVJCPF NWPIGP HÒT #RQNNQ #WEJ KP 6GQU YWTFG #RQNNQ XGTGJTV HTGKNKEJ URKGNVG UGKP -WNV PGDGP FGO ÒDGTO·EJVKIGP   &KQP[UQUMWNVPWTGKPGIGTKPIG4QNNG9GPPFGT0GIGTMQRHCWHWPUGTGO5VÒEMKO5KPPG$QFGPUVGFVU\WFGWVGPKUVUQ DG\KGJV GT UKEJ YCJTUEJGKPNKEJ CWH GKP URG\KGNNGU 'TGKIPKU OÌINKEJGTYGKUG CWH GKPG #PTWHWPI FGU 1TCMGNU FGU   #RQNNQPKOPCJGP-NCTQU

754

755

756

757

758



Õ5VCVGT  X %JT  I )TGKH UKV\V T FCXQT PGITQKFGT -QRH T8KGTIGVGKNVGU +PEWUWO   $CNEGTKP504  #WMVKQP#WHJ·WUGT/ÒPEJGP0T 4CPFTK­UGJTUEJÌP





Õ5VCVGTX%JTI)TGKHUKV\VTFCXQT(TCWGPMQRHT8KGTIGVGKNVGU+PEWUWO$CNEGT KP504  #WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T )WVGUUGJTUEJÌP





Õ5VCVGT  X %JT  I )TGKH UKV\V T FCXQT 5EJYCP8KGTIGVGKNVGU +PEWUWO $CNEGT KP   504 .GKEJVMQTTQFKGTVUGJTUEJÌP





Õ5VCVGT  X %JT  I )TGKH UKV\V T FCXQT 9GKPVTCWDG WPF $NCVV8KGTIGVGKNVGU +PEW   UWO$CNEGTKP504 7PTGIGNO·­KICWUIGRT·IVUGJTUEJÌP





Õ5VCVGT  X %JT  I )TGKH UKV\V T FCXQT 9GKPVTCWDG WPF $NCVV8KGTIGVGKNVGU +PEW   UWO$CNEGTKP504 -N5EJTÌVNKPIUTK­IWVGUUGJTUEJÌP

 91


759

760

1,5:1

761

1,5:1

1,5:1

1,5:1



Õ6GVCTVGOQTKQPX%JTI)TGKHGPMQRHT8KGTIGVGKNVGU+PEWUWO$CNEGTKP504 XGTIN 5GJTUEJÌP





Õ6TKJGOKQDQNX%JTI)TGKHUKV\VTFCXQT#UVTCICN8KGTIGVGKNVGU+PEWUWO$CNEGT KP504XGTIN 5GJTUEJÌP





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762



763

764

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&CVKGTWPIPCEJ0KEJQNCU*CTFYKEM

765

766

1,5:1

1,5:1



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768 767

1,5:1

1,5:1



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92

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770

771 770



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772 1,5:1



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773









774

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775



1,5:1

776 Æ

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93


777



779

1,5:1

778

779

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780

1,5:1



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782

781 1,5:1

783

784

1,5:1



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785

786

787



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94


789

788

1,5:1

790

1,5:1



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791



793

792

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794

1,5:1

795

1,5:1



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796

797

798

799



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800 801

1,5:1

802

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804

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807

806

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810 813

812 1,5:1

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819 Å

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820

821

822 Æ

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825

826

827



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829

831

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Õ5VCVGTX%JTI'DGTRTQVQOGN3WCFTCVWOKPEWUWOOKVDGVQPVGP'EMGP$CDGNQP 6TCKV¾RN::+50)X#WNQEMXGTIN8KUOCTC++XGTIN 'VYCU$GNCIUGJTUEJÌP



'ZGORNCT FGT 5COONWPI /CTQYUM[ #WMVKQP (TKV\ 4WFQNH -ÒPMGT  1UPCDTÒEM  0T  WPF FGT   #WMVKQP)*KTUEJ/ÒPEJGP0T

835



837

836

838

Õ5VCVGT  X %JT  I )GHNÒIGNVG 'DGTRTQVQOG N#EJVIGVGKNVGU 3WCFTCVWO KPEWUWO   FTGK 5GIOGPVG MCTKGTV GKP 5GIOGPV RWPMVKGTV $CDGNQP 6TCKV¾  $/%  50) X #WNQEM  XCT   8KUOCTC++HH (CUVUGJTUEJÌP



'ZGORNCTFGT5COONWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ5VCVGT  X %JT  I )GHNÒIGNVG 'DGTRTQVQOG N3WCFTCVWO KPEWUWO OKV .KPKGPOW   UVGT$CDGNQP6TCKV¾$/%50)X#WNQEM50)%QR8KUOCTC++HH 445GJTUEJÌP



'ZGORNCTFGT5COONWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ5VCVGTX%JTI'DGTRTQVQOGN7PTGIGNO·­KIGU+PEWUWO$CDGNQP6TCKV¾ $/%50)X#WNQEMXGTIN8KUOCTC++ 445GJTUEJÌP



'ZGORNCTFGT5COONWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T  $GKX#WNQEMYKTFFCU0QOKPCNCNU6GVTQDQNDG\GKEJPGVFCUYÒTFGCDGTDGFGWVGPFCGUQHHGPUKEJVNKEJGKP&TKVVGN FGT 5VCVGTG YKGIV FC­ FKG 5VCVGTG FGP 9GTV XQP  1DQNGP J·VVGP F J GU Y·TGP &KFTCEJOGP KP YGNEJGO (W­   CWEJKOOGT



(TÒJF[PCUVKUEJG2T·IWPIGPÕ5VCVGTX%JTI'DGTRTQVQOGT+P3WCFTCVWOKPEW UWO .ÌYGPOCUMG KO 5VTKEJSWCFTCV $CDGNQP 6TCKV¾  XGTIN ++   $/%  50) X #WNQEM    50)%QR8KUOCTC++ UVGORGNINGKEJ! 9CIIQPGT4QUGP%QNN UVGORGNINGKEJ!   4UNGKEJVFG\GPVTKGTVUGJTUEJÌP



'ZGORNCTFGT5COOMWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

99


839



840

841

Õ5VCVGTX%JTI'DGTRTQVQOGNCWHFGT5EJWNVGT-8$8KGTIGVGKNVGU3WCFTCVWOKP EWUWO$CDGNQP6TCKV¾$/%XCT50)X#WNQEM50)%QR8KUOCTC++XCT 5GJTUEJÌP



'ZGORNCTFGT5COONWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ5VCVGTX%JTWPDGUVKOOVG/ÒP\UV·VVGI'DGTRTQVQOGNFCTCWH-8$ TGVTQITCF 3WC FTCVWOKPEWUWOOKVLWPFFTGK'KP\ÒIGP$CDGNQP6TCKV¾++$/% 4UUVGORGNINGKEJ 50) X#WNQEM50)%QR8KUOCTC++XCT 48UNGKEJVFG\GPVTKGTVUGJTUEJÌP



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Õ5VCVGT  X %JT  I 'DGTRTQVQOG N+P 3WCFTCVWO KPEWUWO .ÌYGPMQRH N KP 2GTN   NKPKG $CDGNQP 6TCKV¾ ++  DKU 6GVTCFTCEJOG  $/%  XGTIN 6H :.+++  50) X #WNQEM    8KUOCTC++ 4UUVGORGNINGKEJ 9CIIQPGT4QUGP%QNN 44'VYCU$GNCIUGJTUEJÌP

842



843



844

Õ5VCVGT  X %JT  I 'DGTRTQVQOG T7PTGIGNO·­KIGU 3WCFTCVWO KPEWUWO $CDGNQP   6TCKV¾$/%50)X#WNQEM50)%QR8KUOCTC++XGTIN9CIIQPGT4QUGP%QNN 5GJTUEJÌP



'ZGORNCT FGT 5COONWPI /CTQYUM[ #WMVKQP (TKV\ 4WFQNH -ÒPMGT  1UPCDTÒEM  0T  WPF FGT   #WMVKQP)*KTUEJ/ÒPEJGP0T  &KG5EJKNFMTÌVGJCVMGKPG+PPGP\GKEJPWPI



Õ5VCVGTX%JTI'DGTT+P3WCFTCVWOKPEWUWO5EJKNFMTÌVGKP2GTNNKPKG$CDGNQP 6TCKV¾++$/%XGTIN50)X#WNQEM8KUOCTC++9CIIQPGT4QUGP%QNN 44(CUVUGJTUEJÌP



'ZGORNCT FGT 5COONWPI /CTQYUM[ #WMVKQP (TKV\ 4WFQNH -ÒPMGT  1UPCDTÒEM  0T  WPF FGT   #WMVKQP)*KTUEJ/ÒPEJGP0T  &KG5EJKNFMTÌVGJCVMGKPG+PPGP\GKEJPWPI



Õ5VCVGTX%JTI'DGTRTQVQOGN6TKUMGNKUKP2GTNSWCFTCV50)X#WNQEMXCT 8KUOCTC++ 5GJTUEJÌP

1,5:1

845

846



1,5:1



Õ5VCVGTX%JTI'DGTN6TKUMGNKUKP2GTNSWCFTCV8KUOCTC++



7PDGUVKOOVGT&[PCUVÕ6TKJGOKQDQN2CVCTCI-QRHFGT#RJTQFKVGTFCJKPVGT&KUMGNKU#F NGTUVGJVTFCXQT&KUMGNKU$CDGNQP6TCKV¾++$/%50)X#WNQEM8KUOCTC++  8QT\ÒINKEJ

5GJTUEJÌP

 

#NU/ÒP\UV·VVGMÌPPVGCWEJ2KPCTCKP(TCIGMQOOGP

847

848



Õ5VCVGT  X %JT  I 'DGTRTQVQOG N6TKUMGNGU KP 3WCFTCVWO KPEWUWO FCTWPVGT 0   $CDGNQP6TCKV¾XCT$/%50)X#WNQEM8KUOCTC++ 5GJTUEJÌP





'TDDKPCÕ5VCVGTX%JT6GNOGUUQU ! I#VJGPCMQRHTOKVCVVKUEJGO*GNO+PTWP FGO+PEWUWOLRBBENA$·TVKIGT*GTCMNGUMQRHKO.ÌYGPHGNNTFCXQT-GWNG$CDGNQP6TCKV¾$/% *WTVGT6KUUCRJGTPGU(WPFKP'UUC[UKP*QPQTQH/CTICTGV6JQORUQPXGTIN8KUOCTC++ /ÎTMJQNO<CJNG-JGTGK 8QTFGTUGKVGFG\GPVTKGTVUGJTUEJÌPpXQT\ÒINKEJ



100


850

849

851

854

853

852



-WRTKNNK Õ5VCVGT  X %JT  I 'DGTMQRH X X6TKUMGNKU KP 2GTNSWCFTCV #WMVKQP #WE   VKQPGU#)$CUGN0T FKGU'ZGORNCT 5QPUVYQJNWPGFKGTV 5GJTUEJÌP





Õ5VCVGTX%JTI5VKGTUVÌ­VNFCTÒDGT6TKUMGNKU+P3WCFTCVWOKPEWUWOKOPRL LE VGKNYGKUGTGVTQITCF 6TKUMGNKUKP2GTNNKPKG$CDGNQP6TCKV¾$/%/ÎTMJQNO<CJNG-WRTTNK 50)X#WNQEM8KUOCTC 445GJTUEJÌP



'ZGORNCTFGT5COONWPI/CTQYUM[#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ5VCVGTX%JT.KO[TCI<KGIGMPKGVNFCXQT6TKUMGNKUFCTÒDGTMQTKPVJKUEJGT*GNO +P TWPFGO +PEWUWO 6TKUMGNKU KP 2GTNNKPKG $CDGNQP 6TCKV¾  $/%  /ÎTMJQNO<CJNG -WRTTNK     XGTIN50)X#WNQEM50)%QR8KUOCTC++ 445GJTUEJÌP



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UVGORGNINGKEJ  44-N5EJTÌVNKPIUHGJNGTUGJTUEJÌP



855 856

1,5:1





/KVJTCRCVCX%JTÕ&KQDQNX%JTI.ÌYGPOCUMG+P3WCFTCVWOKPEW UWO6TKUMGNKU$CDGNQP6TCKV¾++XGTIN50)X#WNQEM8KUOCTCXGTIN  )WVGUUGJTUEJÌP



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858 857

859 1,5:1

1,5:1



Õ&KQDQNX%JTI.ÌYGPOCUMGXX6TKUMGNKU8KUOCTC++

5GJTUEJÌP





-4#)15 Õ &TCEJOG  X %JT  I #TVGOKUMQRH T-ÌEJGT N <YGKI 6TQZGNN    5GJTUEJÌP





/#5+-;6'5Õ&TCEJOGX%JTI#TVGOKUMQRHT-ÌEJGTN(CEMGN6TQZGNN 5GJTUEJÌP

 101


2#/2*;.+#

860

862

861

864

863



#52'0&15 Õ5VCVGT  X %JT  I <YGK 4KPIGT+P +PEWUWO 5EJNGWFGTGT T FCXQT   6TKUMGNKUÒDGT#FNGT50)(TCPEG50)X#WNQEM 8QT\ÒINKEJ





Õ5VCVGT  X %JT  I <YGK 4KPIGT+P +PEWUWO 5EJNGWFGTGT T FCXQT 6TKUMGNKU ÒDGT   #FNGT50)(TCPEG50)X#WNQEMXGTIN 5GJTUEJÌPXQT\ÒINKEJ





Õ5VCVGT  X %JT  I <YGK 4KPIGT+P +PEWUWO 5EJNGWFGTGT T FCXQT 6TKUMGNKU   50)X#WNQEM 5GJTUEJÌP





Õ5VCVGT  X %JT  I <YGK 4KPIGT+P +PEWUWO 5EJNGWFGTGT T FCXQT 6TKUMGNKU   50)(TCPEG50)X#WNQEM 5GJTUEJÌP





Õ5VCVGT  X %JT  I <YGK 4KPIGT+P +PEWUWO 5EJNGWFGTGT T FCXQT 6TKUMGNKU   50)X#WNQEM 5GJTUEJÌP



1,5:1 865

866

867

868

1,5:1



Õ5VCVGT  X %JT  I <YGK 4KPIGT5EJNGWFGTGT T FCXQT 6TKUMGNKU $/%  50)   X#WNQEM50)%QR 6GKNYGKUGUEJYCEJCWUIGRT·IVXQT\ÒINKEJ





5+&' Õ5VCVGT  X %JT  I #VJGPC 2CTVJGPQU UVGJV N FCXQT )TCPCVCRHGN#RQNNQ   UVGJVNOKV2CVGTCWPFNCPIGO.QTDGGT\YGKIFCXQT#NVCTT4CDG#VNCP  442T·IGUEJY·EJGUQPUVUVGORGNHTKUEJ



Õ&TCEJOG  ,CJTJWPFGTV X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNO0KMG IGJV N   OKV-TCP\KO(GNFN)TCPCVCRHGN/QPQITCOOWPF'$/%50)%QR50)(TCPEG50)X #WNQEM 44#WUIG\GKEJPGVGT5VKNXQT\ÒINKEJ





6GVTCFTCEJOGP OKV FGO /QPQITCOO WPF ' WPUGTGU 5VÒEMGU MQOOGP J·WHKI XQT \ $ 50) (TCPEG   HH    FKG&TCEJOGKUVLGFQEJUGJTUGNVGP&GT)TCPCVCRHGN ITKGEJKUEJ5KFG YCTFCUURTGEJGPFG9CRRGPFGT5VCFV



Õ1DQN  ,CJTJWPFGTV X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNO.ÌYGPMQRH N   50)(TCPEG50)X#WNQEM (CUVXQT\ÒINKEJ





Õ1DQN  ,CJTJWPFGTV X %JT  I #VJGPCMQRH T OKV MQTKPVJKUEJGO *GNO.ÌYGPMQRH N   50) (TCPEG   50) X #WNQEM  &C\W \YGK “2T·IWPIGP CWU 2CORJ[NKC GKPG CWU 5KFG   UQYKGGKPG2T·IWPIFGU#PVQPKPWU2KWUCWU2GTIG  5VÒEM5GJTUEJÌP



102


2+5+&+#

870 Æ



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$/% $GK\GKEJGP5EJNCPIGWPF#UVTCICNQU 5VÒEM(CUVXQT\ÒINKEJ



%+.+%+#

872 873 Æ

1,5:1

1,5:1

874



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#+)'#+ “U  X %JT  I 6[EJGMQRH T OKV /CWGTMTQPG2HGTFGMQRH T FCJKPVGT   /QPQITCOO$NQGUEJKP#05/0  HH 5GJTUEJÌP





+5515$CNCMTQUX%JT5CVTCRÕ5VCVGTI#VJGPCMQRHHCUVXX$CCNVCTUUKV\VN FCXQTJTGWPF9GKPVTCWDGFCJKPVGT$50)(TCPEG50).GXCPVG 45GJTUEJÌP



875

876

1,5:1

1,5:1



-'.'0&'4+5Õ5VCVGTX%JTI4GKVGTUGKVY·TVUN<KGIGN50).GXCPVGXGTIN .GKEJVFG\GPVTKGTVGVYCUMQTTQFKGTVUGJTUEJÌP





Õ5VCVGTX%JTI0CEMVGT4GKVGTT<KGIGN-QRH\WTÒEMIGYCPFVQDGP'HGWDNCVV $/%50)(TCPEG50).GXCPVG50)X#WNQEM  #VVTCMVKXGU'ZGORNCTUGJTUEJÌPpXQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP)KGUUGPGT/ÒP\JCPFNWPI/ÒPEJGP0T

877 1,5:1

1,5:1

1,5:1

878

1,5:1



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Õ5VCVGTX%JTI#RJTQFKVGMQRHTOKV&KCFGOWPF5RJGPFQPG5CVTCRGPMQRHTOKV RGTUKUEJGT6KCTC50)(TCPEGXGTINHH50).GXCPVG  (GKPGT5VKNCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT6ÌPWPI

 103


880

879 Æ

881



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882 1,5:1



1,5:1

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884

883



886

885



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Õ5VCVGTX%JTI#RJTQFKVGUKV\VNXQP'TQUDGMT·P\VWPVGP/CWU&KQP[UQUUVGJV NOKV4GDGPWPF6J[TUQUKO(GNFNTGEJVGEMKIGT)GIGPUVGORGN#FNGTTFCXQT&TGK\CEM.GFGTGT )GIGPUVGORGN+OJQQH$NWOGT-NGKPCUKCVKUEJG/ÒP\GP5  /KP2TÒHGKPJKGDUGJTUEJÌPpXQT\ÒINKEJ



51.1+ Õ5VCVGT  X %JT  I #VJGPCMQRH T OKV CVVKUEJGO *GNO )TGKH CNU *GNO\KGT   9GKPVTCWDG50)(TCPEG50).GXCPVG 5GJTUEJÌP





1,5:1

888

1,5:1

887



6#4515Õ5VCVGTX%JTI4GKVGTN-TKGIGTMPKGVTOKV5EJKNFWPF.CP\G50) (TCPEG50).GXCPVG 445EJÌP





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&KG<WYGKUWPIKUVPKEJVIGUKEJGTV

104


1,5:1

889

1,5:1 890



2JCTPCDC\QU  X %JT Õ1DQN  I (TCWGPMQRH X X&TCRKGTVG $ÒUVG FGT #RJTQFKVG T   50)(TCPEG50).GXCPVG #XGTUNGKEJVFG\GPVTKGTVUGJTUEJÌP



/ÌINKEJGTYGKUGYWTFGFCU5VÒEMCWEJWPVGT&CVCOGUIGRT·IV



&CVCOGU  X %JT 5CVTCR Õ5VCVGT  I $CCNVCTU UKV\V T OKV JTG 6TCWDGP WPF   #FNGT\GRVGT FCPGDGP 6J[OKCVGTKQP#PC WPF &CVCOGU UVGJGP GKPCPFGT IGIGPÒDGT FC\YKUEJGP 6J[   OKCVGTKQP50)(TCPEG50).GXCPVG  #VVTCMVKXGU'ZGORNCTOKVHGKPGT2CVKPCNGKEJVFG\GPVTKGTVIWVGUUGJTUEJÌP

891





892

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&GT8QTFGTUGKVGPV[RFÒTHVGXQPU[TCMWUCPKUEJGP/ÒP\GPOKVFGO#TGVJWUCMQRHGPHCEGKPURKTKGTVUGKP



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893 1,5:1



1,5:1

Õ5VCVGT  I $CCNVCTU UKV\V N OKV #FNGT JTG 9GKPVTCWDG WPF <GRVGT.ÌYG N UEJN·IV 5VKGT N   50).GXCPVG 8QT\ÒINKEJ



896

894

1,5:1

1,5:1

895



Õ5VCVGT  I $CCNVCTU UKV\V N OKV #FNGT JTG 9GKPVTCWDG WPF <GRVGT.ÌYG N UEJN·IV 5VKGT N   50).GXCPVG $TGKVGT(NCPXQT\ÒINKEJ





Õ5VCVGT  I $CCNVCTU UKV\V N OKV #FNGT JTG 9GKPVTCWDG WPF <GRVGT.ÌYG N UEJN·IV 5VKGT N   50).GXCPVG 8QT\ÒINKEJ





$CNCMTQU  X %JT 5CVTCR Õ1DQN  I #VJGPCMQRH T OKV CVVKUEJGO *GNO5EJKNF   50)(TCPEG50).GXCPVG 5GJTUEJÌP

 105


%;2475

1,5:1



897

1,5:1

5#.#/+5 'WCIQTCU ++  X %JT Õ1DQN  I )TQ­MÌPKI KO -PKGNCWH T OKV $QIGP   WPF 5RGGT5CVTCRGPMQRH T $CDGNQP .GU 2GTUGU #EJGOGPKFGU 0T  -NGKP  50) (TCPEG     50)-C[JCP50).GXCPVG 445GJTUEJÌP



&KG<WYGKUWPIKUVPKEJVIGUKEJGTVCNVGTPCVKXM·OGCWEJGKPGWPDGUVKOOVGMKNKMKUEJG/ÒP\UV·VVGKP$GVTCEJV

5;4+#

898







899

901

900

-¤0+)4'+%*5GNGWMQU+X%JTÕ6GVTCFTCEJOGPCEJX%JT'MDCVCPCI *GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQUUKV\VNFCXQT#PMGT*QWIJVQP.QTDGT0GYGNN '5/50)5RCGT /KP-TCV\GTCWHFGO4GXGTUUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT'MDCVCPCI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU#GVQRJQTQU UKV\V N FCXQT /QPQITCOO #PMGT 2TQVQOG GKPGU ITCUGPFGP 2HGTFGU WPVGT 6JTQP SW *QWIJVQP   .QTDGT0GYGNN'5/50)5RCGT 5GJTUEJÌP



Õ6GVTCFTCEJOG XQT  X %JT WPDGUVKOOVG /ÒP\UV·VVG  I *GTCMNGUMQRH KO .ÌYGPHGNN T   <GWU #GVQRJQTQU UKV\V N FCXQT WPF WPVGT FGO 6JTQP LG GKP /QPQITCOO *QWIJVQP.QTDGT  D   0GYGNN95/50)5RCGT (CUVUGJTUEJÌP



&KG/ÒP\UV·VVGFÒTHVGKP-CRRCFQMKGPFGOÌUVNKEJGP5[TKGPQFGTFGOPÌTFNKEJGP/GUQRQVCOKGP\WUWEJGPUGKP



Õ6GVTCFTCEJOGRQUVJWOX%JT2GTICOQPI*GTCMNGUMQRHKO.ÌYGPHGNNT<GWU #GVQRJQTQU UKV\V N N #VJGPCMQRH T WPVGT FGO 6JTQP 1XCN *QWIJVQP.QTDGT  F 0GYGNN 95/   50)5RCGT )WVGUUGJTUEJÌP



904 Æ

902





 106

903

#PVKQEJQU+X%JTÕ6GVTCFTCEJOGX%JT5GNGWMGKCCF6KITKOI *GTCMNGUMQRHKO.ÌYGPHGNNT<GWU0KMGRJQTQUUKV\VN*QWIJVQP.QTDGTD0GYGNN'5/ 50)5RCGT 4(CUVUGJTUEJÌP



Õ6GVTCFTCEJOGX%JT5GNGWMGKCCF6KITKOI-QRHTOKV&KCFGO#RQNNQUKV\VN CWH1ORJCNQUOKV2HGKNWPF$QIGP*QWIJVQP.QTDGTE0GYGNN'5/50)5RCGT  5GJTUEJÌP



5GNGWMQU++X%JT“U5CTFGUI#VJGPCMQRHTOKVMQTKPVJKUEJGO*GNO#RQNNQUVGJVN OKV2HGKNWPF$QIGP*QWIJVQP.QTDGTXCT50)5RCGTXCT 5GJTUEJÌP




906

905





5GNGWMQU+++X%JTÕ6GVTCFTCEJOG5GNGWMGKCCF6KITKOI-QRHTOKV&KCFGO #RQNNQUKV\VNCWH1ORJCNQUOKV2HGKNWPF$QIGP*QWIJVQP.QTDGT0GYGNN'5/50) 5RCGT #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



#PVKQEJQU+++X%JTÕ6GVTCFTCEJOGPCEJX%JT'FGUUC ! I-QRHTOKV &KCFGO#RQNNQUKV\VNCWH1ORJCNQUOKV2HGKNWPF$QIGPN4QUG*QWIJVQP.QTDGT0GYGNN '5/50)5RCGTXGTIN 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP*KTUEJ0T  #PVKQEJQU +++ YCT FGT NGV\VG DGFGWVGPFG 5GNGWMKFG &WTEJ UGKPG #PCDCUKU PCEJ 1UVGP JCVVG GT HÒT MWT\G <GKV PQEJ   GKPOCN FKG 8QTJGTTUEJCHV DKU $CEVTKGP CWUIGFGJPV #WEJ KO 9GUVGP YCT GT \WP·EJUV GTHQNITGKEJ 'T PCJO FGP   2VQNGO·GTP 5ÒFU[TKGP CD WPF HGUVKIVG UGKPG 5VGNNWPI KP -NGKPCUKGP 'T ÒDGTUEJTKVV UQICT FGP *GNNGURQPV WPF DCWVG   .[UKOCEJGKC YKGFGT CNU 4GUKFGP\ CWH GWTQR·KUEJGO $QFGP CWH &CU TKGH CDGT FKG 4ÌOGT CWH FGP 2NCP <WUCOOGP   OKV'WOGPGU++XQP2GTICOQPUEJNWIGPUKG#PVKQEJQU+++X%JTDGK/CIPGUKCXGTPKEJVGPF+O(TKGFGPXQP #RCOGKCOW­VGGTCNNG)GDKGVGYGUVNKEJFGU6CWTQUCDVTGVGPFCKP\YKUEJGPCWEJYGKVG)GDKGVGKO1UVGPXGTNQTGP IGICPIGPYCTGPYWTFGFCU5GNGWMKFGPTGKEJCWHFKG)GDKGVG\YKUEJGP2JÌPK\KGPWPF$CD[NQPKGPDGUEJT·PMV

907

908



909

Õ&TCEJOGX%JT#RCOGCI-QRHTOKV&KCFGO'NGHCPVTFCXQT/QPQITCOO *QWIJVQP.QTDGT0GYGNN'5/50)5RCGT 5GJTUEJÌP



'ZGORCTFGT#WMVKQP)QTP[/QUEJ/ÒPEJGP0T





Õ6GVTCFTCEJOG  X %JT #PVKQEJKC  I -QRH T OKV &KCFGO#RQNNQ UKV\V N CWH   1ORJCNQUOKV2HGKNWPF$QIGP*QWIJVQP.QTDGT0GYGNN95/50)5RCGT  *QJGU4GNKGHUGJTUEJÌP



#PVKQEJQU+8X%JTÕ6GVTCFTCEJOGX%JT#MG2VQNGOCKUI-QRHT OKV&KCFGO<GWU0KMGRJQTQUUKV\VN/ÎTMJQNO #2 50)5RCGT 5GJTUEJÌP



910

911

912



Õ6GVTCFTCEJOG  X %JT #MG2VQNGOCKU  I -QRH T OKV &KCFGO<GWU 0KMGRJQTQU   UKV\VN/ÎTMJQNO # 50)5RCGT .GKEJVGT(WPFDGNCICWHFGO4GXGTUXQT\ÒINKEJ





Õ6GVTCFTCEJOGX%JT#PVKQEJKCI-QRHTOKV&KCFGO<GWU0KMGRJQTQUUKV\VN /ÎTMJQNO # 50)5RCGT 5GJTUEJÌP





Õ6GVTCFTCEJOGX%JT#PVKQEJKCI-QRHTOKV&KCFGO<GWU0KMGRJQTQUUKV\VN /ÎTMJQNO # 50)5RCGT (CUVXQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

107


913

914

915

916



Õ6GVTCFTCEJOGX%JT#PVKQEJKCI-QRHTOKV&KCFGO<GWU0KMGRJQTQUUKV\VN /ÎTMJQNO # 50)5RCGT 8QT\ÒINKEJ





&GOGVTKQU +  X %JT Õ6GVTCFTCEJOG EC  X %JT #PVKQEJKC  I -QRH T   OKV&KCFGO6[EJGUKV\VNOKV<GRVGTWPF(ÒNNJQTP0GYGNN#PVKQEJ50)5RCGT 5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC   X %JT  #PVKQEJKC  I -QRH T OKV   &KCFGO6[EJGUKV\VNOKV<GRVGTWPF(ÒNNJQTP0GYGNN#PVKQEJ50)5RCGT  8QTFGTUGKVGFG\GPVTKGTVIWVGUUGJTUEJÌP



Õ6GVTCFTCEJOG #PVKQEJKC  I -QRH T OKV &KCFGO6[EJG UKV\V N CWH 6JTQP OKV <GRVGT WPF   (ÒNNJQTP0GYGNN#PVKQEJ50)5RCGT (GKPGU2QTVT·VUGJTUEJÌP





917









918

919

920

#NGZCPFGT +  X %JT Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC   X %JT    5KFQPI-QRHTOKV&KCFGO<GWU0KMGRJQTQUUKV\VNWPVGTFGO6JTQP#RJNCUVQP*QWIJVQP 50)5RCGT (CUVXQT\ÒINKEJ



Õ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC X%JT $GT[VQUI&TCRKGTVG$ÒUVG TOKV&KCFGO#FNGTOKV2CNO\YGKICWH2TQTCNFCXQT/QPQITCOOFCJKPVGT&TGK\CEM5RCGT/QTG QPVJG2VQNGOCKE%QKPUQH#TCFQU6H.:+ FKGU'ZGORNCT 50)5RCGT 445GJTUEJÌP



Õ5EJGMGN,CJTUGNGWMKFKUEJGTTC X%JT 6[TQUI&TCRKGTVG$ÒUVGTOKV &KCFGO#FNGT OKV 2CNO\YGKI CWH 2TQTC N FCXQT -GWNG WPF /QPQITCOO 0GYGNN 6[TG  50)   5RCGT 5EJTÌVNKPIUHGJNGTCWHFGO4GXGTUHCUVXQT\ÒINKEJ



#PVKQEJQU8+X%JTÕ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC X%JT  #PVKQEJKC  I -QRH T OKV 5VTCJNGPDKPFG&KG &KQUMWTGP TGKVGP N 0GYGNN #PVKQEJ  50)   5RCGT 5GJTUEJÌP



6T[RJQP FGT CWH FGO 4GXGTU FKGUGT 6GVTCFTCEJOG GTY·JPV YKTF JCVVG #PVKQEJQU 8+ IGIGP &GOGVTKQU ++ CWH   FGP 6JTQP IGDTCEJV NKG­ KJP CDGT YGPKIG ,CJTG UR·VGT GTOQTFGP WO UGNDUV FKG -ÌPKIUDKPFG \W VTCIGP 7PUGT   5VÒEMUVCOOVCWUFGONGV\VGP.GDGPULCJTFGU#PVKQEJQU8+

108


922

921





Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC   X %JT  #PVKQEJKC  I -QRH T OKV   5VTCJNGPDKPFG&KG&KQUMWTGPTGKVGPN0GYGNN#PVKQEJXGTINHH50)5RCGT  4GXGTUNGKEJVGT&QRRGNUEJNCIUGJTUEJÌP



&GOGVTKWU ++  4GIKGTWPI  X %JT Õ5EJGMGN ,CJT  UGNGWMKFKUEJGT TC     X%JT 6[TQUI&TCRKGTVG$ÒUVGTOKV&KCFGO#FNGTOKV2CNO\YGKICWH2TQTCNFCXQT-GWNG WPF/QPQITCOO0GYGNN6[TG50)5RCGT 5GJTUEJÌP



923

927

924

925

926



Õ5EJGMGN ,CJT  UGNGWMKFKUEJGT TC    X %JT  5KFQP  I -QRH T OKV &KCFGO   #FNGTUVGJVNOKV2CNO\YGKIFCJKPVGT#RJNCUVQP50)5RCGTHH (CUVXQT\ÒINKEJ





#PVKQEJQU8++X%JTÕ5EJGMGN,CJTUGNGWMKFKUEJGTTC X%JT 6[TQU  I -QRH T OKV &KCFGO#FNGT OKV 2CNO\YGKI CWH 2TQTC N FCXQT -GWNG WPF /QPQITCOO   0GYGNN6[TG50)5RCGT (GKPG2CVKPCXQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP-ÒPMGT1UPCDTÒEM0TWPFFGT#WMVKQP-ÒPMGT1UPCDTÒEM0T



Õ5EJGMGN ,CJT  UGNGWMKFKUEJGT TC    X %JT  6[TQU  I -QRH T OKV &KCFGO   #FNGTOKV2CNO\YGKICWH2TQTCNFCXQT-GWNGWPF/QPQITCOO0GYGNN6[TG50)5RCGT 5GJTUEJÌP





Õ6GVTCFTCEJOG#PVKQEJKCI-QRHTOKV&KCFGO#VJGPC0KMGRJQTQUUVGJVN0GYGNN#PVKQ EJKC50)5RCGT )WVGUUGJTUEJÌP





Õ6GVTCFTCEJOG#PVKQEJKCI-QRHTOKV&KCFGO#VJGPC0KMGRJQTQUUVGJVN0GYGNN#PVKQ EJKC50)5RCGT 5GJTUEJÌP



928

929



Õ6GVTCFTCEJOG#PVKQEJKCI-QRHTOKV&KCFGO#VJGPC0KMGRJQTQUUVGJVN0GYGNN#PVKQ EJKC50)5RCGT 5GJTUEJÌP





&GOGVTKQU++4GIKGTWPIX%JTÕ5EJGMGN,CJTUGNGWMKFKUEJGTTC X %JT 6[TQUI-QRHTOKV&KCFGO#FNGTOKV2CNO\YGKICWH2TQTCNFCXQT-GWNGWPF/QPQ ITCOO0GYGNN6[TG50)5RCGT 5GJTUEJÌP

 109


930 1,5:1

1,5:1



Õ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC X%JT &COCUEWUI-QRHTOKV &KCFGO<GWU0KMGRJQTQUUKV\VN0GYGNN.5/50)5RCGT 45GJTUEJÌP

932

931



-NGQRCVTC 6JGC WPF #PVKQEJQU 8+++  X %JT Õ6GVTCFTCEJOG #MG2VQNGOCKU  I   $GKFGT$ÒUVGPT<GWU0KMGRJQTQUUKV\VN0GYGNN.5/XGTIN50)5RCGTXGTIN  .GKEJVMQTTQFKGTVUGJTUEJÌP



#PVKQEJQU8+++4GIKGTWPIX%JTÕ6GVTCFTCEJOGX%JT#PVKQEJKCI -QRHTOKV&KCFGO+O-TCP\<GWU7TCPKQUUVGJVNOKV<GRVGTWPF5VGTP0GYGNN#PVKQEJ50) 5RCGT 4CPFTK­XQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP/ÒP\<GPVTWO-ÌNP0T





933

934

935

936



Õ6GVTCFTCEJOG  X %JT #PVKQEJKC  I -QRH T OKV &KCFGO+O -TCP\ <GWU 7TC   PKQUUVGJVNOKV<GRVGTWPF5VGTP0GYGNN#PVKQEJ50)5RCGT )WVGUUGJTUEJÌP





Õ6GVTCFTCEJOG  X %JT #PVKQEJKC  I -QRH T OKV &KCFGO+O -TCP\ <GWU 7TC   PKQUUVGJVNOKV<GRVGTWPF5VGTP0GYGNN#PVKQEJ50)5RCGT 5GJTUEJÌP



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



Õ6GVTCFTCEJOGX%JT#MG2VQNGOCKUI-QRHTOKV&KCFGO+O-TCP\<GWU7TC PKQUUVGJVNOKV<GRVGTWPF5VGTP0GYGNN.5/50)5RCGT 8QT\ÒINKEJ



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



#PVKQEJQU +:  X %JT Õ6GVTCFTCEJOG  X %JT #PVKQEJKC  I -QRH T OKV   &KCFGO#VJGPC0KMGRJQTQUUVGJVN0GYGNN#PVKQEJ50)5RCGT  #VVTCMVKXGUXQT\ÒINKEJGU'ZGORNCT 'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

110




937

941 Æ

938

939

940



5GNGWMQU8+X%JTÕ6GVTCFTCEJOG5GNGWMGKCCF%CN[ECFPWOI-QRHTOKV&KCFGO #VJGPC0KMGRJQTQUUVGJVN*QWIJVQP5GNGWEKC FKGU'ZGORNCT 50)5RCGT 5GJTUEJÌP





2JKNKRRQU +  X %JT Õ6GVTCFTCEJOG #PVKQEJKC  I -QRH T OKV &KCFGO<GWU 0KMG   RJQTQUUKV\VN0GYGNN#PVKQEJ50)5RCGT 5GJTUEJÌP





Õ6GVTCFTCEJOGWPDGUVKOOVGPQTFU[TKUEJGQFGTMKNKMKUEJG/ÒP\UV·VVGI-QRHTOKV&KCFGO <GWU0KMGRJQTQUUKV\VN50)5RCGT 5GJTUEJÌP





6KITCPGU  X %JT Õ6GVTCFTCEJOG #PVKQEJKC  I &TCRKGTVG $ÒUVG T OKV 6KCTC6[EJG   UKV\VTOKV<YGKICWH(GNUGPFCTWPVGTUEJYKOOV1TQPVGUT$/% 8QT\ÒINKEJ



&KG 4ÒEMUGKVG FKGUGU 5VÒEMGU \GKIV FKG DGTÒJOVG 5VCVWG FGT 6[EJG XQP #PVKQEJKC FKG 'WV[EJKFGU GKP 5EJÒNGT FGU   .[UKRRQUIGUEJCHHGPJCVVG



“U #PVKQEJKC  I &TCRKGTVG $ÒUVG T OKV 6KCTC6[EJG UKV\V T OKV <YGKI WPVGP UEJYKOOGPFGT   (NW­IQVV1TQPVGU$/%XGTINHH 5EJÌPUGJTUEJÌP

942

943

944



945



4ÌOKUEJG 2TQXKP\ PCEJ  X %JT Õ6GVTCFTCEJOG  X %JT #PVKQEJKC #WNWU )CDKPKWU   I-QRHTOKV&KCFGO<GWU0KMGRJQTQUUKV\VN42% )WVGUUGJTUEJÌP





.#1&+-'+##&/#4'Õ6GVTCFTCEJOG,CJT X%JT I6[EJGDÒUVGTOKV /CWGTMTQPG+O-TCP\<GWU#GVQRJQTQUUKV\VN/ÎTMJQNOKP#05/0  XGTIN  8QTFGTUGKVGNGKEJVMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG,CJT X%JT I6[EJGDÒUVGTOKV/CWGTMTQPG+O-TCP\<GWU #GVQRJQTQUUKV\VN/ÎTMJQNOKP#05/0  C 8QTFGTUGKVGNGKEJVMQTTQFKGTVUGJTUEJÌP





Õ6GVTCFTCEJOG,CJT X%JT I6[EJGDÒUVGTOKV/CWGTMTQPG+O-TCP\<GWU 0KMGRJQTQUUKV\VN/ÎTMJQNOKP#05/0  C 5GJTUEJÌP

 111


2*1'0+%+#

947 946

1,5:1

1,5:1

1,5:1

1,5:1



#4#&15 Õ6GVTQDQN  ,CJTJWPFGTV X %JT  I /GGTGUIQVVJGKV NCIGTV T OKV &GNRJKPGP   )CNGGTGTFCTWPVGT*KRRQECORT$/%50)%QR .GKEJVMQTTQFKGTVIWVGUUGJTUEJÌP





Õ 5VCVGT !   X %JT  I -QRH FGU &CIQP QFGT /GNMCTVJ !  T OKV .QTDGGTMTCP\   )CNGGTGTÒDGT9GNNGP-NGKPXGTIN (CUVXQT\ÒINKEJ



948

1,5:1

949

1,5:1



Õ&TCEJOG  ,CJTJWPFGTV X %JT  I $KGPG*KTUEJ UVGJV T XQT 2CNOG $/% XGTIN  HH   50)%QRXGTINHH 8QTFGTUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌP





Õ&TCEJOGX%JT$KGPG*KTUEJUVGJVTXQT2CNOG$/%50)%QR  4ÒEMUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌPpXQT\ÒINKEJ



950

951

953

952



Õ6GVTCFTCEJOG ,CJT    X %JT   I 8GTUEJNGKGTVG 6[EJGDÒUVG T OKV /CWGTMTQPG   +P-TCP\0KMGUVGJVNOKV#RJNCUVQP$/% 5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT   X %JT   I 8GTUEJNGKGTVG 6[EJGDÒUVG T OKV /CWGTMTQPG   +P-TCP\0KMGUVGJVNOKV#RJNCUVQP$/%XGTIN 5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT    X %JT   I 8GTUEJNGKGTVG 6[EJGDÒUVG T OKV /CWGTMTQPG   +P-TCP\0KMGUVGJVNOKV#RJNCUVQP$/% 5GJTUEJÌP





“U  X %JT  I <GWUMQRH T WPVGP QXCNGT )GIGPUVGORGN #FNGT T6[EJG UVGJV N OKV   #RJNCUVQP(ÒNNJQTPWPF<YGKI$/%XCT )TÒPpDTCWPG2CVKPCUGJTUEJÌP



954

955



$;$.15 #\DCCN WO  X %JT Õ5VCVGT  I )CNGGTG N OKV FTGK *QRNKVGP FCTWPVGT *KR   RQECORNPGDGPFGUUGP5EJYCP\01.ÌYGNUEJ·IV5VKGTN$/%XCT 5GJTUEJÌP





#KPGN WO  X %JT Õ5VCVGT  I )CNGGTG N ÒDGT *KRRQECOR.ÌYG N UEJN·IV 5VKGT N   $CDGNQP6TCKV¾XGTIN2N%8:8++$/% 5GJTUEJÌP



112


956

1,5:1

957

1,5:1

1,5:1

1,5:1



#FTCOGNGMUR·VGU,CJTJWPFGTVX%JTÕ5VCVGTI)CNGGTGNOKV\YGK*QRNKVGP.ÌYGN UEJN·IV5VKGTN$/%XGTIN50)%QRXGTIN 5GJTUEJÌP





5+&10Õ5EJGMGNX%JTI)CNGGTGNÒDGT9GNNGP)TQ­MÌPKIKO-PKGNCWHT OKV$QIGP$GVN[QPKP#05/0  XGTIN 5EJGMGN -NGKP 45GJTUEJÌP



1,5:1



958

1,5:1

959 Æ

#DFB#UJVCTV +  X %JT Õ 5VCVGT  I )CNGGTG N ÒDGT 9GNNGP)TQ­MÌPKI T   GTUEJN·IV.ÌYGP$GVN[QPKP#05/0   5GJTUEJÌP



#DFy#UJVCTV+YKTFKPITKGEJKUEJGP3WGNNGP5VTCVQPIGPCPPV



“U,CJT X%JT I6[EJGMQRHT#UVCTVGKP)CNGGTGN$/%HH  )TÒPG2CVKPCUGJTUEJÌP



+7&#'#

960 Æ



961 Æ

/CVVCVJKCU #PVKIQPWU  X %JT “%JCNMWU  I <YGK (ÒNNJÌTPGT'HGWMTCP\ /GUJQTGT   6TGCUWT[ &WPMNG2CVKPCHCUVUGJTUEJÌP



&C WPVGT FGP ÒDTKIGP *CUOQP·GTP PWT JCNDG ICP\G WPF UGNVGP  FQRRGNVG 2TWVQV IGRT·IV YWTFGP UVKEJV FKGUGU   ITQ­G 0QOKPCN FGU /CVVCVJKCU #PVKIQPWU DGUQPFGTU JGTXQT /GUJQTGT UKGJV FKG 7TUCEJG FGT #WURT·IWPI FKGUGT   DGGKPFTWEMGPFGP ITQ­GP $TQP\GUVÒEMG KP FGT OKNKV·TKUEJGP #WUGKPCPFGTUGV\WPI FGU #PVKIQPQU OKV *GTQFGU WPF   FGP4ÌOGTPFKGKJP\YCPIUKEJ\WRTQHKNKGTGP



#WHUVCPF$CT-QMJDC“U,CJT  I,CJTFGT(TGKJGKVXQP+UTCGN $NCVV5EJKOyQP2CNOG/KNFGPDGTI )TÒPG2CVKPCUGJTUEJÌP

962

963

964



965



Õ&TCEJOG   I 5EJKOyQP KP -TCP\(ÒT FKG (TGKJGKV ,GTWUCNGOU -CPPG T 2CNO   \YGKI/KNFGPDGTI 8QT\ÒINKEJ





Õ&TCEJOG   I 5EJKOyQP 9GKPVTCWDG(ÒT FKG (TGKJGKV ,GTWUCNGOU .[TC /KNFGP   DGTI ªDGTRT·IWPIUURWTGPXQT\ÒINKEJ



&CU5VÒEMYWTFGCWHGKPG&TCEJOGCWU%CGUCTGC%CRRCFQEKCGÒDGTRT·IV



Õ&TCEJOG   I 5EJKOyQP 9GKPVTCWDG(ÒT FKG (TGKJGKV ,GTWUCNGOU .[TC /KNFGP   DGTI 8QT\ÒINKEJ





Õ&TCEJOG   I 5EJKOyQP KP -TCP\(ÒT FKG (TGKJGKV ,GTWUCNGOU -CPPG T 2CNO   \YGKI/KNFGPDGTI ªDGTRT·IWPIUURWTGPUGJTUEJÌP

 113


#4#$+#('.+:

967

966



*+/;#4+6'0 Õ*GOKFTCEJOG  ,CJTJWPFGTV P %JT  I /·PPNKEJGT -QRH N$WMTCPKQO   OKV#PVKNQRGPJÌTPGTPXX$/%50)#05 8QT\ÒINKEJ





5#$'4 Õ&TCEJOG PCEJ CVVKUEJGO 6[R  ,CJTJWPFGTV X %JT  I #VJGPCMQRH T CWH FGT   9CPIG0'WNGT$/%HH50)#05XGTINHH 5GJTUEJÌP



$#$;.10+#

968



$#$;.10 Õ6GVTCFTCEJOG WO  X %JT  I $CCN UKV\V N OKV <GRVGT.ÌYG N FCTÒDGT   D/KVEJKPGT+PFQITGGMUL 8QTFGTUGKVGNGKEJVXGTRT·IVUGJTUEJÌP



2#46*+#

970

971

969



969

/KVJTCFCVGU ++  X %JT Õ6GVTCFTCEJOG 5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV &KC   FGO#TUCMGUUKV\VTOKV$QIGPFCXQT2CNO\YGKI5GNNYQQF5JQTG FKGU'ZGORNCT   )WVGU2QTVT·VCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



'ZGORNCTFGT#WMVKQP&T$WUUQ2GWU0CEJH(TCPMHWTV0T



Õ&TCEJOG4JCICGI&TCRKGTVG$ÒUVGNOKV&KCFGO#TUCMGUUKV\VTOKV$QIGP5GNNYQQF 5JQTG 8QTFGTUGKVGOKPFG\GPVTKGTVUGJTUEJÌP





Õ&TCEJOG4JCICGI&TCRKGTVG$ÒUVGNOKV&KCFGO#TUCMGUUKV\VTOKV$QIGP5GNNYQQF XGTIN5JQTG )WVGUUGJTUEJÌP



972





114

973

2JTCCVGU +8  X %JT Õ6GVTCFTCEJOG 5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV &KCFGO   -ÌPKI UKV\V T FCXQT UVGJV 6[EJG N OKV 2CNO\YGKI WPF (ÒNNJQTP 5GNNYQQF 6[R  5JQTG XGTIN   HH -TCV\GTHCUVUGJTUEJÌP



6KTKFCVGU  X %JT Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC    X %JT  5GNGWMGKC    I &TCRKGTVG $ÒUVG N OKV &KCFGO-ÌPKI UKV\V N OKV KJP DGMT·P\GPFGT 0KMG 5GNNYQQF    5JQTG (CUVUGJTUEJÌP




974

975

976

977

978



Õ6GVTCFTCEJOG 5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV &KCFGO-ÌPKI UKV\V N OKV $QIGP   5GNNYQQF5JQTG 5GJTUEJÌP





2JTCCVCMGUXP%JTÕ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC X%JT 5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV &KCFGO-ÌPKI UKV\V T XQP 6[EJG DGMT·P\V 5GNNYQQF 6[R 5JQTG XGTIN (CUVUGJTUEJÌP



8CTFCPGU+Õ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC  5GNGWMGKCI&TC RKGTVG$ÒUVGNOKV&KCFGO-ÌPKIGORH·PIV2CNO\YGKIXQP6[EJG5GNNYQQF5JQTGXGTIN 5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC    5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV   &KCFGO-ÌPKIGORH·PIV2CNO\YGKIXQP6[EJG5GNNYQQFHH5JQTGXGTIN 5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC    5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV   &KCFGO-ÌPKIGORH·PIV2CNO\YGKIXQP6[EJG5GNNYQQF5JQTG 5GJTUEJÌP





979



980

981

982

983

)QVCT\GU ++  Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC    5GNGWMGKC  I   &TCRKGTVG$ÒUVGNOKV&KCFGO-ÌPKIUKV\VTXQP6[EJGDGMT·P\V5GNNYQQFHH5JQTG  5GJTUEJÌP





Õ6GVTCFTCEJOG ,CJT  UGNGWMKFKUEJGT TC    5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV   &KCFGO-ÌPKIUKV\VTXQP6[EJGDGMT·P\V5GNNYQQF5JQTG )TCHHKVQUGJTUEJÌP





8QNQICUGU+Õ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC ! 5GNGWMGKCI&TC RKGTVG$ÒUVGNOKV&KCFGO-ÌPKIUKV\VNWPFGORH·PIV&KCFGOXQP6[EJG5GNNYQQFHH5JQTG XGTIN 5GJTUEJÌP



8QNQICUGU+++Õ6GVTCFTCEJOG,CJTUGNGWMKFKUEJGTTC  5GNGWMGKCI &TCRKGTVG $ÒUVG N OKV 6KCTC WPF &KCFGO-ÌPKI UKV\V N WPF GORH·PIV &KCFGO XQP 6[EJG 5GNNYQQF   XGTIN5JQTG 5GJTUEJÌP



8QNQICUGU +8  Õ6GVTCFTCEJOG 5GNGWMGKC  I &TCRKGTVG $ÒUVG N OKV 6KCTC-ÌPKI   UKV\VNWPFGORH·PIV&KCFGOXQP6[EJG5GNNYQQFXGTINHH5JQTGXGTINHH 5GJTUEJÌP







115


2'45+5

986 984

985 1,5:1

1,5:1



7PDGUVKOOVGT*GTTUEJGT,CJTJWPFGTVX%JTÕ*GOKFTCEJOGX%JTI-QRH TOKV#FNGTM[TDCUKC*GTTUEJGTTXQT(GWGTCNVCTT#FNGTUVCPFCTVG#NTCO$/% 5GJTUEJÌP





1ZCVJTGUWOX%JTÕ&TCEJOG2GTUGRQNKU ! I$ÒUVGNOKV6KCTC0#NTCOXGTIN 5NI)ÌDN 8QPITQ­GT5GNVGPJGKV5GJTUEJÌP



1ZCVJTGU 8CJUKT YCTGKP5QJPFGU&CTGKQU &CTGX ++



7PDGUVKOOVGT *GTTUEJGT 'PFG FGU  ,CJTJWPFGTVU P %JT Õ*GOKFTCEJOG  I &TCRKGTVG   $ÒUVGNOKV6KCTC&KCFGO#NTCO 5GJTUEJÌP



2'45+#

987 Å

987 Å 1,5:1



#EJ·OGPKFGP Ô&CTGKMG  I )TQ­MÌPKI KO -PKGNCWH T OKV $QIGP WPF 5RGGT+PEWUWO 50)   $GTT[ )WVGUUGJTUEJÌP  &KG RGTUKUEJG &CTGKMG KUV PCEJ &CTGKQU + FGO )TQ­GP DGPCPPV FGT FKGUG 5VÒEMG \WGTUV RT·IVG 'U YCTGP FKG DG   MCPPVGUVGP)QNFOÒP\GPKJTGT<GKVDKUPCEJFGT<GTUEJNCIWPIFGU2GTUGTTGKEJGUFKG)QNFUVCVGTG#NGZCPFGTUFGU)TQ ­GP CP KJTG 5VGNNG VTCVGP &KG JKGT CPIGDQVGPGP 5VÒEMG IGJÌTGP \W FGP HTÒJGP &CTGKMGP WPF FÒTHVGP FGOPCEJ   Y·JTGPFFGT2GTUGTMTKGIG\WT$G\CJNWPIRGTUKUEJGT5QNFCVGPIGFKGPVJCDGP/KVFGP&CTGKMGPYWTFG9GNVIGUEJKEJVG IGUEJTKGDGP UQ DGTKEJVGV 2NWVCTEJ FC­ FGT 5RCTVCPGTMÌPKI #IGUKNCQU FGT UGKV  X %JT KP -NGKPCUKGP UGJT   GTHQNITGKEJ -TKGI IGIGP FKG 2GTUGTP HÒJTVG FWTEJ IQNFGPG &CTGKMGP OKV FGPGP UGKPG )GIPGT KP )TKGEJGPNCPF   DGUVQEJGP YWTFGP IGIGP KJP -TKGI \W HÒJTGP \WO #DDTWEJ FGU -TKGIGU KP -NGKPCUKGP IGPÌVKIV YWTFG #IGUKNCQU   UQNN IGUCIV JCDGP FC­ KJP  RGTUKUEJG $QIGPUEJÒV\GP CWU #UKGP XGTVTKGDGP J·VVGP &KG $QIGPUEJÒV\GP  

6QZQVCK  UVGJGP HÒT FKG &CTGKMGP FKG LC CWH FGO #XGTU GKPGP $QIGPUEJÒV\GP \GKIGP  OKV FGPGP FKG 2QNKVKMGT KP   #VJGPWPF6JGDGP\WO-TKGIIGIGP5RCTVCCPIGUVCEJGNVYWTFGP

988 Å

989 Å

990 Å

991 Å

992



Ô&CTGKMGI)TQ­MÌPKIKO-PKGNCWHTOKV$QIGPWPF5RGGT+PEWUWO50)$GTT[  5GJTUEJÌP





Ô&CTGKMGI)TQ­MÌPKIKO-PKGNCWHTOKV$QIGPWPF5RGGT+PEWUWO50)$GTT[  5GJTUEJÌPGU'ZGORNCT





Ô&CTGKMGI)TQ­MÌPKIKO-PKGNCWHTOKV$QIGPWPF5RGGT+PEWUWO50)$GTT[  5GJTUEJÌPGU'ZGORNCT





Ô&CTGKMGI)TQ­MÌPKIKO-PKGNCWHTOKV$QIGPWPF5RGGT+PEWUWO50)$GTT[  5GJTUEJÌPGU'ZGORNCT





Õ5KINQU  ,CJTJWPFGTV X %JT  I )TQ­MÌPKI KO -PKGNCWH T OKV $QIGP WPF 5RGGT+PEW   UWO50)$GTT[ 5GJTUEJÌP

116




5#5#0+&'0

1,5:1



993 Å

1,5:1

5EJCRWT ++  Ô&KPCT -CDWN  I &TCRKGTVG $ÒUVG T OKV -TQPG(GWGTCNVCT \YKUEJGP   \YGK#UUKUVGP\HKIWTGP)ÌDN)ÌDN-WUJCP )WVGUUGJTUEJÌP 

$#%64+#

994





995

1,5:1

2TGUGNGWMKFKUEJG 2T·IWPIGP ÕRGTUKUEJG *GOKFTCEJOGPCEJCVVKUEJGO6[RI#VJGPCMQRHT OKV CVVKUEJGO *GNO'WNG T FCJKPVGT /QPFUKEJGN 0KEQNGV2KGTTG#OCPFT[  FKGU 'ZGORNCT  50)   #05XGTIN (CUVUGJTUEJÌP



ÕRGTUKUEJGT 1DQN  I #VJGPCMQRH T CVVKUEJGO OKV *GNO8QIGN T FCXQT AQE0KEQNGV2KGTTG #OCPFT[50)#05 5GJTUEJÌP



1,5:1



1,5:1

996 Å

1,5:1

&KQFQVQU+WOX%JTÔCVVKUEJGT5VCVGTOKV6KVGN#PVKQEJQU++$CNMJI-QRHFGU&KQ FQVQU + T OKV &KCFGOBASILEWSANTIOCOU <GWU UVGJV N WPF UEJNGWFGTV $NKV\ FCXQT 0 WPF   #FNGT$0$CEV/KVEJKPGT+PFQITGGMC50)#05  8QPITQ­GT5GNVGPJGKV2TÒHGKPJKGDXQT\ÒINKEJ  #NU &KQFQVWU UKEJ XQP #PVKQEJQU NÌUVG RT·IVG GT \WP·EJUV PQEJ /ÒP\GP KO 0COGP FGU 5GNGWMKFGP UGV\VG CDGT   UGKPGKIGPGU2QTVT·VCWHFKG/ÒP\GP

997

1,5:1



1,5:1

'WVJ[FGOQU + WO  X %JT ÕCVVKUEJG 6GVTCFTCEJOG 2CPLJKT  I -QRH T OKV &KC   FGO*GTCMNGU UKV\V N OKV -GWNG CWH (GNUGP $0 $CEV  # /KVEJKPGT +PFQITGGM  C 50) #05   HH )WVGUUGJTUEJÌP  'WVJ[FGOQU XGTVTKGD &KQFQVQU ++ WPF GTJQD UKEJ UGNDUV \WO -ÌPKI #NU FGT 5GNGWMKFG #PVKQEJQU +++  X   %JT XGTUWEJVG FKG ÌUVNKEJGP 5CVTCRKGP \WTÒEM\WGTQDGTP GTMN·TVG 'WVJ[FGOQU GT UGK MGKP 4GDGNN UQPFGTP GT   JCDGFKG4GDGNNGPDGUGKVKIV'TDNKGD-ÌPKIKPUGKPGO4GKEJFC#PVKQEJQU+++XQT$CEVTCUEJGKVGTVG

117


998



999

1000

1001

&GOGVTKQU +  X %JT Õ6GVTCFTCEJOG 2CPLJKT  I &TCRKGTVG $ÒUVG T OKV 'NGHCP   VGPUMCNR*GTCMNGUUVGJVXXOKV-GWNGWPF.ÌYGPHGNNWPFMTÌPVUKEJUGNDUV$0$CEVE/KVEJKPGT +PFQITGGMF50)#05 -QTTQFKGTVUEJÌPpUGJTUEJÌP



&GOGVTKQU + HQNIVG UGKPGO 8CVGT 'WVJ[FGOQU + +JO IGNCPI GU #TCEJQUKC WPF FKG 2CTQRCPKUCFGP YGNEJG   5GNGWMQU+CP%JCPFTCIWRVCCDIGVTGVGPJCVVGXQPFGP/CWT[C\WTÒEM\WGTQDGTP



#PVKOCEJQU +  X %JT ÕCVVKUEJG 6GVTCFTCEJOG $CEVTC  I &TCRKGTVG $ÒUVG T OKV   -CWUKC2QUGKFQP UVGJV X X OKV &TGK\CEM WPF 2CNO\YGKI OKV 6CGPKG $0 $CEV  & /KVEJKPGT   +PFQITGGMD50)#05 -NGKPGT5EJTÌVNKPIUHGJNGTCWHFGT8QTFGTUGKVGHCUVXQT\ÒINKEJ  #PVKOCEJQU HQNIVG #ICVJQMNGU WPF 2CPVCNGQP UQ LGFGPHCNNU KUV GU FKG /GJTJGKVUOGKPWPI \WNGV\V XQP 1 $QRGC   TCEJEJKXGTVTGVGP/KVEJKPGTUGV\VKJPXQTFKGDGKFGPCPFGTGP4GIGPVGP5GKP$GKPCOG6JGQUFÒTHVGCDGTCWH#PVKQ EJQU+86JGQU\WTÒEMIGJGPFJGTTGIKGTVGINGKEJ\GKVKI\WFKGUGO5GNGWMKFGPFCJGTMCPPGTPKEJVXQTX%JT CPIGUGV\VYGTFGP



'WMTCVKFGU +  X %JT ÕCVVKUEJG 6GVTCFTCEJOG  X %JT 2CPLJKT  I &TC   RKGTVG $ÒUVG T OKV &KCFGO&KQUMWTGP TGKVGP T $0 $CEV  $ /KVEJKPGT +PFQITGGM  H 50)   #05 5GJTUEJÌP



0CEJFGO UKEJ &GOGVTKQU + +PFKGP \WIGYCPFV JCVVG ICD GU PÌTFNKEJ FGU *KPFWMWUJ GPVYGFGT GKP /CEJVXCMWWO   QFGT FKG FQTVKIGP )TKGEJGP HÒJNVGP UKEJ XGTPCEJN·UUKIV LGFGPHCNNU ICD GU  X %JT GKPG 4GDGNNKQP OKV   'WMTCVKFGU  CP FGT 5RKV\G &KGUGT MQPPVG UKEJ KP $CMVTKGP DKU  XÌNNKI FWTEJUGV\GP 5R·VGT ITKHH GT CWEJ PCEJ   +PFKGP CWU WPF GPIVG FGP /CEJVDGTGKEJ /GPCPFGTU GKP 'T UGNDUV YWTFG XQP GKPGO 5QJP XGTOWVNKEJ 2NCVQ   ITCWUCOGTOQTFGV



ÕCVVKUEJG 6GVTCFTCEJOG X%JT$CEVTCI&TCRKGTVG$ÒUVGTOKV*GNO&KQUMWTGP TGKVGPT$0$CEV6/KVEJKPGT+PFQITGGMJ50)#05 -QTTQFKGTVUGJTUEJÌP

1002



1003



ÕCVVKUEJG 6GVTCFTCEJOG $CEVTC  I &TCRKGTVG $ÒUVG T OKV *GNO&KQUMWTGP TGKVGP T $0   $CEV9/KVEJKPGT+PFQITGGMH50)#05XGTIN /KP4CPFHGJNGTXQT\ÒINKEJ





ÕCVVKUEJG 6GVTCFTCEJOG $CEVTC  I &TCRKGTVG $ÒUVG T OKV *GNO&KQUMWTGP TGKVGP T $0   $CEV9/KVEJKPGT+PFQITGGMH50)#05 $TGKVGT(NCPUGJTUEJÌPXQT\ÒINKEJ



118


1005

1006

1004



ÕCVVKUEJG 6GVTCFTCEJOG 2WUJMCNCXCVK  I &TCRKGTVG $ÒUVG T OKV *GNO&KQUMWTGP TGKVGP T   $0$CEV'/KVEJKPGT+PFQITGGMGG50)#05 (CUVXQT\ÒINKEJ





ÕCVVKUEJG &TCEJOG $CEVTC  I &TCRKGTVG $ÒUVG T OKV &KCFGO&KQUMWTGP TGKVGP T $0 $CEV   %/KVEJKPGT+PFQITGGMC50)#05 8QT\ÒINKEJ





*GNKQMNGUX%JTÕCVVKUEJG&TCEJOG$CEVTCI&TCRKGTVG$ÒUVGTOKV&KCFGO<GWU UVGJVXXOKV$NKV\WPF<GRVGT$0$CEV&/KVEJKPGT+PFQITGGME50)#05  8QTFGTUGKVGNGKEJVGT&QRRGNUEJCIXQT\ÒINKEJ



51)&+#0#

1007



5E[VJGPECX%JTÕ6GVTCFTCEJOGPCEJ6[R'WVJ[FGOQUI-QRHFGU'WVJ[FGOQUT *GTCMNGUUKV\VNCWH(GNUGPOKV-GWNG5GPKQT+PFQ5E[VJKCP%QKPUCPF*KUVQT[6[R# 5GJTUEJÌP



+0&+#

1008

1009 1010



/GPCPFGT  X %JT ÕKPFKUEJG &TCEJOG    X %JT 2WUJMCNCXCVK  I &TC   RKGTVG $ÒUVG OKV *GNO T#VJGPC #NMKFGOQU N OKV $NKV\ WPF 5EJKNF $0 $CEV  /KVEJKPGT %NCUUK   ECN/KVEJKPGT+PFQITGGMH50)#05 (CUVXQT\ÒINKEJ





ÕKPFKUEJG &TCEJOG 2WUJMCNCXCVK  I &TCRKGTVG $ÒUVG T OKV &KCFGO#VJGPC #NMKFGOQU N OKV   5EJKNFWPF$NKV\$0$CEV/KVEJKPGT+PFQITGGM50)#05 5GJTUEJÌP





5E[VJGP#\GU+X%JTÕKPFKUEJG6GVTCFTCEJOG*C\CTCI-ÌPKITGKVGVTOKV.CP\G <GWUUVGJVXXOKV$NKV\WPF<GRVGT$0$CEV/KVEJKPGT+PFQITGGM  'VYCU(WPFDGNCIUGJTUEJÌP



#');2675

1012



1011 Å

1012

2VQNGOCKQU+X%JTÔ5VCVGTX%JT-[TGPGI-QRHTOKV&KCFGO #NGZCPFGTFGT)TQ­GOKV$NKV\KP'NGHCPVGPSWCFTKICN50)%QR XIN 5XQTQPQU  4-N-TCV\GTIWVGUUGJTUEJÌP 'ZGORNCTFGT#WMVKQP-ÌNPGT/ÒP\MCDKPGVV-ÌNP0T



Õ6GVTCFTCEJOG  X %JT #NGZCPFTKC  I -QRH T OKV &KCFGO#FNGT CWH $NKV\ N   50)%QR5XQTQPQU (GKPG2CVKPCUGJTUEJÌP



 119


1013









1015

1014

2VQNGOCKQU++X%JTÕ6GVTCFTCEJOGX%JT#NGZCPFTKCI-QRH2VQNG OCKQU+TOKV&KCFGO#FNGTCWH$NKV\NFCXQTPT/CE50)%QR5XQTQPQU  .GKEJVHNGEMKIHCUVUGJTUEJÌP



Õ6GVTCFTCEJOG ,CJT    X %JT  6[TQU  I -QRH 2VQNGOCKQU + T OKV &KCFGO   #FNGTCWH$NKV\NFCXQT-GWNGWPF/QPQITCOOFCJKPVGT,CJTGU\CJNWPF/QPQITCOOWPVGP/QPQ ITCOO50)%QR5XQTQPQU 2WP\GPCWH4ÒEMUGKVGIWVGUUGJTUEJÌP



Õ6GVTCFTCEJOG ,CJT      X %JT  )C\C  I -QRH 2VQNGOCKQU + T OKV &KCFGO   #FNGT CWH $NKV\ N FCXQT \YGK /QPQITCOOG FCJKPVGT ,CJTGU\CJN WPF /QPQITCOO 50) %QR    5XQTQPQU (CUVUGJTUEJÌP



Õ6GVTCFTCEJOG ,CJT   X %JT  ,QRRG  I -QRH 2VQNGOCKQU+TOKV&KCFGO#FNGT CWH $NKV\ N FCXQT /QPQITCOOG FCJKPVGT ,CJTGU\CJN WPF /QPQITCOO 50) %QR  5XQTQPQU    (CUVUGJTUEJÌP



1017 Å



1016

1017 Å

1,5:1

2VQNGOCKQU+++X%JTÔ1MVQFTCEJOG#NGZCPFTKCI$ÒUVGPFGU2VQNGOCKQU++WPF FGT #TUKPQG ++ T FCJKPVGT 5EJKNF$ÒUVGP FGU 2VQNGOCKQU + WPF FGT $GTGPKMG + T 50) %QR    5XQTQPQU /KP-TCV\GTXQT\ÒINKEJ  &KGUG KPVGTGUUCPVGP 1MVQ WPF 6GVTCFTCEJOGP YWTFGP YCJTUEJGKPNKEJ \WO ITÌ­VGP 6GKN WPVGT 2VQNGOCKQU +++    IGRT·IV FGT FCOKV UGKPG 8QTHCJTGP GJTVG 'KP MNGKPGT 6GKN KUV CDGT OÌINKEJGTYGKUG DGTGKVU WPVGT 2VQNGOCKQU ++   IGRT·IVYQTFGPFGOFKG5VÒEMGCWEJDGK5XQTQPQU\WIGYKGUGPYGTFGP

1,5:1



120

1018 Å 1,5:1

Ô6GVTCFTCEJOG#NGZCPFTKCI$ÒUVGPFGU2VQNGOCKQU++WPFFGT#TUKPQG++TFCJKPVGT5EJKNF $ÒUVGPFGU2VQNGOCKQU+WPFFGT$GTGPKMG+T50)%QR5XQTQPQU  45GJTUEJÌPXQT\ÒINKEJ




1019 Å 1,5:1



1,5:1

Ô6GVTCFTCEJOG#NGZCPFTKCI$ÒUVGPFGU2VQNGOCKQU++WPFFGT#TUKPQG++TFCJKPVGT5EJKNF $ÒUVGPFGU2VQNGOCKQU+WPFFGT$GTGPKMG+T50)%QR5XQTQPQU5GJTUEJÌPXQT\ÒINKEJ  'ZGORNCTFGT#WMVKQP/ÒP\GPWPF/GFCKNNGP#)&GWVUEJNCPF5VWVVICTV0T

1020 Æ

1021

1022



1023



“*GOKQDQNKQP -[TGPG  I -QRH 2VQNGOCKQU + T OKV &KCFGO WPF #GIKU-QRH FGT .KD[G T   OKV6CGPKGFCXQT(ÒNNJQTP50)%QR5XQTQPQU9GKUGT &WPMGNITÒPG2CVKPCUGJTUEJÌP





2VQNGOCKQU8+X%JTÕ6GVTCFTCEJOGX%JT#NGZCPFTKCI-QRH2VQNG OCKQU+TOKV&KCFGO#FNGTCWH$NKV\N50)%QR5XQTQPQU 5GJTUEJÌP





Õ&KFTCEJOG ,CJT  !  X %JT  #TCFQU !   I -QRH 2VQNGOCKQU + T OKV   &KCFGO#FNGTCWH$NKV\N50)%QR5XQTQPQU 45GJTUEJÌP





2VQNGOCKQU8+++X%JTÕ&KFTCEJOG,CJTFGTTCXQP#TCFQU X%JT  #TCFQUI-QRHTOKV&KCFGOWPF#GIKU#FNGTUVGJVN50)%QR5XQTQPQU  8QTFGTUGKVGOKPKOCNFG\GPVTKGTVXQT\ÒINKEJ



'ZGORNCTFGT#WMVKQP)QTP[/QUEJ/ÒPEJGP0T

1024 Å

1,5:1



1,5:1

HÒT#TUKPQG++Ô1MVQFTCEJOG /PCKQP #NGZCPFTKCI-QRHTOKV&KCFGOWPF5EJNGKGTFC JKPVGT-&QRRGNHÒNNJQTPOKV6CGPKG50)%QR5XQTQPQU  2TCEJVGZGORNCT8QT\ÒINKEJ5VGORGNINCP\  &KGUGU ITQ­G CPVKMG )QNFPQOKPCN YWTFG \WGTUV WPVGT 2VQNGOCKQU ++  X %JT  PCEJ  X %JT   CWUIGRT·IV CNU GT UGKPG 5EJYGUVGTIGOCJNKP #TUKPQG ++ PCEJ KJTGO 6QF \W IÌVVNKEJGP 'JTGP CWHUVGKIGP NKG­   &KGUGT 6[R YWTFG KOOGT YKGFGT CWHIGITKHHGP UQ CWEJ WPVGT 2VQNGOCKQU 8+++ 0CEJ 5XQTQPQU UQNNGP FKG   )GUKEJVU\ÒIG FGT FCTIGUVGNNVGP 2GTUQP CWH FGT 8QTFGTUGKVG -NGQRCVTC +++ YKGFGTIGDGP 5KG YCT UGKPG 5VKGHVQEJVGT   FKG GT  X %JT JGKTCVGVG 'KPG 1MVQFTCEJOG  &TCEJOGP  YCT FGT )GIGPYGTV XQP GKPGT /KPG F J    &TCEJOGP KP 5KNDGT FCJGT CWEJ FGT CPVKMG 0COG /PCKQP FGT KP 2CR[TK OGJTHCEJ XQTMQOOV +P FGT ·I[RVKUEJGP   -WRHGTY·JTWPIGPVURTCEJFCU5VÒEM6CNGPVGP-WRHGTQFGT-WRHGTFTCEJOGP

121


1025 Æ



-NGQRCVTC8++X%JTWPF/CTEWU#PVQPKWU“6GVTCEJCNMQPX%JT%JCNEKUI &TCRKGTVG$ÒUVGFGT-NGQRCVTCTOKV&KCFGO-QRHFGU/CTEWU#PVQPKWUT42%9GKUGT  &WPMGNITÒPG2CVKPCUGJTUEJÌP



%;4'0#+%#

1027 Å 1,5:1

1026





$#4-'Õ6GVTCFTCEJOGX%JTI5KNRJKWOFCPGDGPDGKFUGKVKI(TWEJV<YGK&GN RJKPGCWHY·TVUFC\YKUEJGP(TWEJVKO3WCFTCVWOKPEWUWO2TKEG9CIIQPGT#U[WV 4GXGTUUVGO RGNINGKEJ  1XCNGT5EJTÌVNKPIUEJÌPUGJTUEJÌP



-;4'0' Ô.KVTC  X %JT /CIKUVTCV 6JGWRGKFGU  -CTPGKQUMQRH N-[TGPGMQRH T   0CXKNNGG FKGU'ZGORNCT  8QT\ÒINKEJ



1028 Å

1,5:1



1,5:1

1,5:1

Ô5VCVGTX%JT/CIKUVTCV2QN[CPVJGUI0KMGKP3WCFTKICT#OOQPUVGJVNOKV2C VGTCWPF<GRVGTFCXQT6J[OKCVGTKQP0CXKNNG 445GJTUEJÌPpXQT\ÒINKEJ

1,5:1

1029 Å

1,5:1



1030



Ô6GVTQDQNX%JTI4GKVGTNFCJKPVGT5VGTP5KNRJKWO0CXKNNG  8QTFGTUGKVGNGKEJVFG\GPVTKGTVXQT\ÒINKEJ



Õ&KFTCEJOG  X %JT  I -CTPGKQUMQRH T5KNRJKWO T /QPQITCOO $/%  XCT   50)%QRXGTIN 5GJTUEJÌP

 

<WT<GKVFGT2T·IWPIFKGUGU5VÒEMGUYCT/CICUGKP*CNDDTWFGTFGU2VQNGOCKQU+)QWXGTPGWTXQP-[TGPG

<'7)+6#0+#

1031 Å



1032 Å

1033 Å

-#46*#)1 Ô5VCVGT  X %JT  I 6CPKVMQRH N OKV JTGPMTCP\2HGTF UVGJV T   ,GPMKPU.GYKUXGTIN #XGTUUVGORGNINGKEJ  5GJTUEJÌP



'ZGORNCTFGT#WMVKQP-ÌNPGT/ÒP\MCDKPGVV-ÌNP0T



Ô5VCVGTX%JTI6CPKVMQRHNOKVJTGPMTCP\2HGTFUVGJVT,GPMKPU.GYKU  5GJTUEJÌP



Ô5VCVGT  X %JT  I 6CPKVMQRH N OKV JTGPMTCP\2HGTF UVGJV T ,GPMKPU.GYKU XGTIN   HH #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 

122




07/+&+#

1034



,WDC ++  X P %JT WPF -NGQRCVTC 5GNGPG Õ&GPCT WO   I -QRH T OKV &KCFGO   -TQMQFKNN/C\CTF50)%QRXGTIN (CUVXQT\ÒINKEJ



-NGQRCVTC 5GNGPG GKPG 6QEJVGT FGU /CTEWU #PVQPKWU WPF FGT -NGQRCVTC YKTF CWH FKGUGT /ÒP\G IGPCPPV 5KG YCT   WOX%JTXQP#WIWUVWUOKV,WDC++XGTJGKTCVGVYQTFGP

.165 

.QVITKGEJKUEJGT6GVTCFTCEJOGP  5[TKC5GNGWMQU+ #NGZCPFGTV[R50)5RCGT 2JKNKRRQU+

50) 5RCGT   2JQGPKEKC #TCFQU #NGZCPFTGKGT 2TKEG   &C\W GKPG “*GOKNKVTC XQP   #MTCICU 50)/ÒPEJGP  5VÒEM5GJTUEJÌP



.QVITKGEJKUEJGT5KNDGTOÒP\GP&CU.QVGPVJ·NVPGDGPGKPGT&TCEJOGFGU#NGZCPFGT+++CWU.CORUC EWUUGEJU1DQNGFKGUGU-ÌPKIUCWUXGTUEJKGFGPGP/ÒP\UV·VVGPUQYKG\YGKRJÌPK\KUEJG-NGKPUKNDGTOÒP \GP 5VÒEM5EJÌPDKUUGJTUEJÌP





.QV ITKGEJKUEJGT $TQP\GOÒP\GP &CU .QV GPVJ·NV W C “2T·IWPIGP CWU+NKQP#D[FQU#PVKUUCWPF 2GTICOQP 5VÒEM5EJÌPDKUUGJTUEJÌP





.QVITKGEJKUEJGT$TQP\GOÒP\GP&CU.QVGPVJ·NV\YGK2T·IWPIGPCWU'RJGUQU $KGPGYGKDNKEJGT-QRHN -NGKP  $KGPG*KTUEJ MPKGV N FCJKPVGT #UVTCICNQU 50) %QR  HH  UQYKG LGYGKNU GKPG 2T·IWPI   CWU2TKGPGWPF5O[TPC 5VÒEM5GJTUEJÌP



.QV ITKGEJKUEJGT /ÒP\GP &CU .QV GPVJ·NV  5KNDGTOÒP\GP GKPGP &GPCT *KURCPKC1UEC   6GVTC   FTCEJOGP #VJGP #GI[RVWU -NGQRCVTC 8++ 2JTCCVGU +8  GKPG &KFTCEJOG 0GCRQNKU  UQYKG GKPGP   6GVTQDQN *KUVKCKC +PVGTGUUCPVGU1DLGMV 5VÒEM/GKUVUGJTUEJÌP









.QV .[MKGP WPF 1TKGPV &CU KPVGTGUUCPVG .QV GPVJ·NV  5KNDGTRT·IWPIGP CWU .[EKC #NNG 'ZGORNCTG   UVCOOGPCWUFGT5COONWPI/CTQYUM[#WMVKQP-ÒPMGT1UPCDTÒEM0GDGP5VCVGTGPUKPFCWEJ GKP1MVQDQNWPFOGJTG&KQDQNGXGTVTGVGP&CU.QVIKDVUQOKVGKPGPIWVGPªDGTDNKEMÒDGTFKG2T·IWPIGP XQPFGTXQTF[PCUVKUEJGP<GKVDKUKPFKG<GKVFGU-WRTKNNK X%JT &GT1TKGPVKUVWPVGTCPFGTGO OKV\YGK*GOKFTCEJOGPCWU6CDCTKUVCPXGTVTGVGP 5VÒEM)GTKPIGTJCNVGPDKUUGJTUEJÌP 



)TKGEJKUEJG -NGKPUKNDGTOÒP\GP   'PVJCNVGP UKPF W C 2T·IWPIGP XQP 5GNIG .CORUCMQU -[\K   MQU/CUKM[VGU&C\WFTGKTÌOKUEJG2TQXKP\KCNRT·IWPIGP 5VÒEM/GKUVUGJTUEJÌP





)TKGEJKUEJG5KNDGTOÒP\GP.WECPKC/GVCRQPVÕ&KFTCEJOG .GWMKRRQUMQRHJTG X%JT 4WVVGT *KUVQTKC 0WOQTWO  Õ&KFTCEJOG &GOGVGTMQRH NJTG   X %JT 4WVVGT   *KUVQTKC0WOQTWO6JGUUCNKC.KICX%JTÕ&TCEJOG #RQNNQMQRHT#VJGPC+VQPKC  50)%QR5[TKC.CQFKMGKCCFOCTGÕ6GVTCFTCEJOG 6[EJGMQRHT<GWU0KMGRJQTQUUKV\VN  /QTMJQNO 5VÒEM5GJTUEJÌP





7PVGTKVCNKGP0QTFITKGEJGPNCPFWPFITKGEJKUEJGU/WVVGTNCPF&CU.QVGPVJ·NVÕWPF“2T·IWPIGP W C GKPG &KFTCEJOG CWU 6CTGPV “2T·IWPIGP CWU 5[TCMWU FTGK 6GVTCFTCEJOGP FGU #NGZCPFGT +++   \YGK6GVTCFTCEJOGPCWU/CEGFQPKCWPVGTTÌOKUEJGO2TQVGMVQTCVGKPGP5VCVGTUQYKGGKPG6GVTCFTCEJOG CWU6JCUQU\YGK6GVTCFTCEJOGPCWU#VVKMCUQYKG\YGK5VCVGTGCWU-QTKPVJ5GJTKPVGTGUUCPVGU1DLGMV FCUDGUKEJVKIVYGTFGPUQNNVG 5VÒEM/GKUVUGJTUEJÌP 



.QV UGNGWMKFKUEJGT 5KNDGTOÒP\GP &CU .QV GPVJ·NV PGDGP GKPGT 6GVTCFTCEJOG FGU #PVKQEJWU +++ CWU   'EVCDCPCFTGK&TCEJOGPFGU#PVKQEJWU8+++PVGTGUUCPVGU1DLGMV 5VÒEM5GJTUEJÌP



-NGKPCUKGP 5[TKC WPF #GI[RVWU &CU .QV GPVJ·NV Õ WPF “2T·IWPIGP W C Õ%KUVQRJQTK WPF   #GU CWU 2GTICOQP GKPGP Õ5VCVGT WPF &TCEJOGP CWU 4JQFQU FKXGTUG Õ6TKJGOKQDQNG CWU 5GNIG   Õ6GVTCFTCEJOGPFGT5GNGWMKFGPUQYKGGKPKIG“2T·IWPIGPFGT2VQNGO·GT5GJTKPVGTGUUCPVGU1DLGMV FCUDGUKEJVKIVYGTFGPUQNNVG 5VÒEM/GKUVUGJTUEJÌP 



.QV ITKGEJKUEJGT $TQP\GOÒP\GP &CU .QV GPVJ·NV W C 2T·IWPIGP CWU *KURCPKC 5[TCMWU /CEGFQ   PKC,WFCGC WC2QPVKWU2KNCVWU #GI[RVWU WC-NGQRCVTC8++ -CTVJCIQWPF0WOKFKC  5VÒEM/GKUVHCUVUGJTUEJÌPWPFUGJTUEJÌP



.QV ITKGEJKUEJGT 5KNDGTOÒP\GP &CU .QV GPVJ·NV W C GKPGP 5KINQU 2GTUKC  GKPG CTEJCKUEJG &K   FTCEJOG CWU /GVCRQPV GKPGP 5VCVGT CWU -QTKPVJ \YGK 6GVTCFTCEJOGP #NGZCPFGT+++2JKNKRRQU+++  1DQNG /CUUKNKC /KNGV  GKPGP RGTICOGPKUEJGP %KUVQRJQT UQYKG OGJTGTG &TCEJOGP $CEVTKC 2CTVJKC   5CUUCPKFGP 5GJTKPVGTGUUCPVGU.QVFCUDGUKEJVKIVYGTFGPUQNNVG 5VÒEM5EJÌPpUGJTUEJÌP







123






)TKGEJKUEJG /ÒP\GP &CU .QV GPVJ·NV 5KNDGTRT·IWPIGP ÒDGTYKGIGPF MNGKPGTGT 0QOKPCNG W C CWU   #DFGTC $QGQVKC %CTKC 'RJGUQU 2JQMCKC WPF 6JCUQU (GTPGT UKPF CWEJ \YGK &TCEJOGP FGU #NGZCP   FGT+++WPFGKP5KINQUXGTVTGVGP+PVGTGUUCPVGU.QVFCUWPDGFKPIVDGUKEJVKIVYGTFGPUQNNVG  5VÒEM/GKUVUGJTUEJÌP



)TKGEJKUEJG 5KNDGTOÒP\GP GPVJ·NV W C \YGK &TCEJOGP FGU #NGZCPFGT +++ GKPG &TCEJOG FGU 1TQ   FGU++GKP6GVTQDQNCWU#TIQUWPFGKPGÕ7PKVFGT+EGPK+PVGTGUUCPVGU1DLGMV  5VÒEM/GKUVUGJTUEJÌP





.QV ITKGEJKUEJGT 5KNDGTOÒP\GP &CU .QV GPVJ·NV 2T·IWPIGP XQP $TKVCPPKC DKU PCEJ +PFKC FCTWPVGT   1DQNGCWU/CUUCNKC2JKUVGNKC6CTGPV6GVTQDQNGCWU#DFGTC#MCPVJQU1N[PVJQU&TCEJOGPCWU2JCT UCNQU%CRRCFQEKCUQYKGGKPG6GVTCFTCEJOGFGU2JKNKRRQU++++PVGTGUUCPVGU1DLGMVFCUDGUKEJVKIVYGT FGPUQNNVG 5VÒEM/GKUVUGJTUEJÌP 



.QV ITKGEJKUEJGT $TQP\GOÒP\GP &CU .QV IKDV GKPGP IWVGP ªDGTDNKEM ÒDGT FKG $TQP\GRT·IWPIGP FGT   ITKGEJKUEJGP 9GNV WPF KUV UQOKV HÒT FGP #WHDCW GKPGT 5COONWPI ITKGEJKUEJGT $TQP\GOÒP\GP JGTXQT   TCIGPFIGGKIPGV7PVGTCPFGTGOUKPF2T·IWPIGPCWU0GCRQNKU#MTCICU/COGTVKPQK*KGMVCU*CNKMCT PCUUQUWPF#TCFQUUQYKG2T·IWPIGPFGU2JKNNKRQU++#NGZCPFGT+++FGU*KGTQP++WPFFGU-CUUCPFTQU XGTVTGVGP+PVGTGUUCPVGU.QVFCUWPDGFKPIVDGUKEJVKIVYGTFGPUQNNVG 5VÒEM/GKUVUGJTUEJÌP 



.QV MCRRCFQMKUEJGT 5KNDGTOÒP\GP &CU .QV GPVJ·NV UKGDGP &TCEJOGP 2T·IWPIGP FGU #TKCTCVJGU   +8FGU#TKCTCVJGU8WPFFGU#TKQDCT\CPGU++PVGTGUUCPVGU1DLGMVFCUDGUKEJVKIVYGTFGPUQNNVG  5VÒEM/GKUVUGJTUEJÌP



.QV ITKGEJKUEJGT $TQP\GOÒP\GP *KURCPKC +NVKTVC “#U  X %JT $WTIQU  Z  5G   ECKUC “5GOKU  X %JT $WTIQU  $TWVVKWO 4JGIKQP “U  X %JT 4WVVGT   *KUVQTKC0WOQTWO5KEKNKC*KOGTC“1PMKCX%JT%CNEKCVK Z -COCTKPC“ 6GVTCU  X %JT 9GUVGTOCTM,GPMKPU  Z  2CPQTOQU “U  X %JT%CNEKCVK 5[TCMWU “U  X %JT %CNEKCVK  *KMGVCU “U %CNEKCVK  %CNEKCVK  *KGTQP ++   

Z  “U %CNEKCVK    %JCNMKU “U  X %JT 5NI $%&   'RJGUQU “U    X %JT 50) %QR  .[FKC )COGTUGU “U  ,CJTJWPFGTV X %JT -NGKP  5GJT   KPVGTGUUCPVGU.QV 5VÒEM/GKUVUGJTUEJÌP







.QV ITKGEJKUEJGT 5KNDGTOÒP\GP %CNCDTKC 6CTGPV Õ*GOKQDQN  X %JT 4WVVGT *KUVQTKC   0WOQTWO   5VÒEM  $TWVVKWO -TQVQP Õ5VCVGT  X %JT 4WVVGT *KUVQTKC 0WOQTWO    5KEKNKC -CVCPG Õ.KVTC  X %JT 50) #05  5[TCMWU Õ6GVTCFTCEJOG    X %JT $QGJTKPIGT  Õ.KVTC 4ÒEMUGKVG 4CF D\Y 1MVQRWU Z  /QGUKC +UVTQU Õ   &TCEJOG  ,CJTJWPFGTV X %JT #/0)    Z    6JTCEKC #DFGTC Õ   &TCEJOGX%JT/C[XGTIN#RQNNQPKC2QPVKEC Õ&TCEJOGWO X %JT 50) $/  /CTQPGKC Õ6TKQDQN  X %JT 5EJÌPGTV)GKUU        Z  6JCUQU Õ6GVTCFTCEJOG PCEJ  X %JT 50) %QR  Z   XCT Z  /CEG   FQPKC 'KQP Õ6TKJGOKQDQN  ,CJTJWPFGTV X %JT 50) #05  Õ&KQDQN WO  X %JT   50) #05  0GCRQNKU Õ1DQN  X %JT 50) #05   2JKNKRRQU ++  X   %JTÕ6GVTCFTCEJOG50)#052JQEKU(ÌFGTCVKQPÕ1DQNX%JT9KNNKCOU   Z   2CTQU Õ1DQN WO  X %JT 50) #05  /CEGFQPKC  #TCFQU Õ6GVTC   FTCEJOG ,CJT    X %JT  $/%  $[DNQU #FTCOGNGM  ,CJTJWPFGTV X %JT Õ    5VCVGT XGTIN $/%  Z  2CTVJKC /KVJTCFCVGU ++ Õ&TCEJOG 4JCICG 5GNNYQQF  Z    5GJTKPVGTGUUCPVGU.QVFCUWPDGFKPIVDGUKEJVKIVYGTFGPUQNNVG 5VÒEM/GKUVUGJTUEJÌPGKPKIGDGUUGT 



.QVITKGEJKUEJGT$TQP\GOÒP\GP&CU.QVGPVJ·NVWC2T·IWPIGPCWU1N[PVJQU)CNNKGPGKPG$TQP\G OÒP\G FGU 'NCICDCNWU CWU 0KMQRQNKU /QGUKC  UQYKG XKGT 2T·IWPIGP FGT *GRJVCNKVGP +PVGTGUUCPVGU   .QV 5VÒEM5EJÌPpXQT\ÒINKEJ





)TKGEJKUEJG$TQP\GOÒP\GPCWU.[FKGPWPF2JT[IKGP&CU.QVGPVJ·NVWCTÌOKUEJG2TQXKP\KCNRT· IWPIGPCWU#RQNNQPQU*KGTQP5CKVVCWPF/CKQPKC+PVGTGUUCPVGU1DLGMV 5VÒEM5GJTUEJÌP





2CTVJKC 2GTUKC WPF $CEVTKC &CU .QV GPVJ·NV PGDGP  Õ5KINQK Õ&TCEJOGP FGT RCTVJKUEJGP -Ì   PKIGXQP/KVJTCFCVGU+DKU1UTQGU++UQYKG2T·IWPIGPCWU$CMVTKC WCGKPG6GVTCFTCEJOGFGU'WVJ[ FGOQU +  9GKVGTJKP UKPF GKPKIG “2T·IWPIGP W C RTQXKP\KCNTÌOKUEJG /ÒP\GP 1FGUUC  XGTVTGVGP   +PVGTGUUCPVGU1DLGMV 5VÒEM5EJÌPDKUXQT\ÒINKEJ



124


4¤/+5%*'/ª0<'0 /ª0<'0&'44¤/+5%*'04'27$.+-

1058



Õ&KFTCEJOGX%JT/GVCRQPVWOCPQP[OI$·TVKIGT/CTUMQRHNOKVMQTKPVJKUEJGO *GNO2HGTFGMQRHTCWHFGT.GKUVGCO*CNU41/#01FCJKPVGTJTG$/%%TCYH5[F  45GJTUEJÌP



&KG 8QTFGTUGKVG MQRKGTV GKPGP .GWMKRRQU-QRH FGT GKIGPUV·PFKIGP 2T·IWPI /GVCRQPVU &GT 2HGTFGMQRH NGJPV UKEJ   CP MCTVJCIKUEJG 8QTDKNFGT CP  X %JT JCVVG 4QO GKP $ÒPFPKU OKV -CTVJCIQ IGIGP 2[TTJQU IGUEJNQUUGP &KG   (WPFGDGUV·VKIGPFKG&CVKGTWPI

1059 Æ



“6TKGPU  X %JT 4QO CPQP[O  I $NKV\ T WPF N LG \YGK 9GTVMWIGNP&GNRJKP   FCTWPVGTXKGT9GTVMWIGNP$/%%TCYH5[F *GTUVGNNWPIUDGFKPIVGU.QEJHCUVUGJTUEJÌP

1060 Æ



1061 Æ



1062 Æ

“3WCFTCPU  X %JT 4QO CPQP[O  I *CPF N FTGK 9GTVMWIGNP<YGK )GTUVGPMÌT   PGTFC\YKUEJGPFTGK9GTVMWIGNP$/%%TCYH5[F  *GTUVGNNWPIUDGFKPIVGT(GJNGTUQPUVUGJTUEJÌP





“5GZVCPU  X %JT 4QO CPQP[O  I /WUEJGN \YKUEJGP \YGK 9GTVMWIGNP%CFW   EGWU\YKUEJGP\YGK9GTVMWIGNP$/%%TCYH5[F 5GJTUEJÌP





“5GZVCPU  X %JT 4QO CPQP[O  I /WUEJGN \YKUEJGP \YGK 9GTVMWIGNP%CFW   EGWU\YKUEJGP\YGK9GTVMWIGNP$/%%TCYH5[F (CUVUGJTUEJÌP

 125


1063 Æ



“5GOKU PCEJ  X %JT 4QO CPQP[O  I -QRH FGT /KPGTXC OKV MQTKPVJKUEJGO *GNO N   FCTWPVGT5-QRHFGT8GPWUNFCTWPVGT5$/%%TCYH5[F )TÒPG2CVKPCUEJÌP

1064 Æ



1066 Æ

1065 Æ



“3WCFTCPU PCEJ  X %JT 4QO CPQP[O  I 'DGT T WPVGP FTGK 9GTVMWIGNP'DGT N   WPVGPFTGK9GTVMWIGNP$/%%TCYH5[F 5GJTUEJÌP





“3WCFTCPU PCEJ  X %JT 4QO CPQP[O  I 'DGT T WPVGP FTGK 9GTVMWIGNP'DGT N   WPVGPFTGK9GTVMWIGNP$/%%TCYH5[F  1NKXITÒPG2CVKPC2CVKPCCO4CPFNGKEJVCDIGURNKVVGTVUGJTUEJÌP



“5GZVCPU  X %JT 4QO CPQP[O  I &KQUMWTGPMQRH T FCJKPVGT \YGK 9GTVMWIGNP   &KQUMWTGPMQRHNFCJKPVGT\YGK9GTVMWIGNP$/%%TCYH5[F (CUVUGJTUEJÌP





'KPG/ÒP\GKO.KDTCN(W­

1067 Æ

1068 Æ



“3WCFTCPU  X %JT 4QO CPQP[O  I *WPF N WPVGP FTGK 9GTVMWIGNP4CF $/%   %TCYHC5[F 5GJTUEJÌP





“5GZVCPU  X %JT 4QO CPQP[O  I 5EJKNFMTÌVG4CF OKV UGEJU 5RGKEJGP $/%   %TCYH5[FC (CUVUGJTUEJÌP



126


1069





1070

Õ&KFTCEJOG  X %JT 4QO CPQP[O  I ,CPWUMQRH,WRKVGT OKV $NKV\ WPF <GRVGT KP   3WCFTKICTXQP8KEVQTKCIGNGPMVWPVGPCWH$QFGPXGTVKGHV41/#$/%%TCYH5[F  5GJTUEJÌP



Õ&KFTCEJOG  X %JT 4QO CPQP[O  I ,CPWUMQRH,WRKVGT OKV $NKV\ WPF <GRVGT KP   3WCFTKICTXQP8KEVQTKCIGNGPMVWPVGPCWH$QFGPXGTVKGHV41/#$/%%TCYH5[F  5GJTUEJÌP



1072 Æ

1071 Æ

1073 Æ



“3WCFTCPU  X %JT 4QO  I *CPF T -GWNG N FTGK 9GTVMWIGNP*CPF N -GWNG   TFTGK9GTVMWIGNP$/%%TCYH5[F )TÒPG2CVKPC4CPFCWUDTÒEJGUGJTUEJÌP





“5GOKU  X %JT 4QO CPQP[O  5CVWTPMQRH N OKV .QTDGGTMTCP\2TQTC N FCTÒ   DGT5%TCYH5[F 5EJÌP



'KPG2T·IWPIKOTGFW\KGTVGP.KDTCN(W­



“3WCFTCPU  X %JT 4QO CPQP[O  I *GTEWNGUMQRH KO .ÌYGPHGNN N FCJKPVGT FTGK   9GTVMWIGNP2TQTCTFCTWPVGTFTGK9GTVMWIGNP$/%%TCYH5[F (CUVUGJTUEJÌP

1074 Æ



1075 Æ



“5GZVCPU  X %JT 4QO CPQP[O  I /GTMWTMQRH N FCTWPVGT \YGK 9GTVMWIGNP   2TQTCTFCTWPVGT\YGK9GTVMWIGNP$/%%TCYH5[F 5GJTUEJÌP





“5GZVCPU  X %JT 4QO CPQP[O  I /GTMWTMQRH N FCTWPVGT \YGK 9GTVMWIGNP   2TQTCTFCTWPVGT\YGK9GTVMWIGNP$/%%TCYH5[F (CUVUGJTUEJÌP

 127


  

“6TKGPU  X %JT CPQP[O  I 9GKDNKEJGT -QRH T OKV &KCFGO FCJKPVGT XKGT 9GTV   MWIGNP*GTEWNGUM·ORHVOKV<GPVCWTGPFCXQTXKGT9GTVMWIGNP$/%%TCYH5[F  ªDGTFWTEJUEJPKVVNKEJGTJCNVGPOGJTGTG5EJTÌVNKPIUHGJNGTUGJTUEJÌP  “6TKGPUX%JTCPQP[OI/KPGTXCMQRHOKVMQTKPVJKUEJGO*GNOQDGPXKGT9GTV MWIGNP2TQTCTFCTWPVGTXKGT9GTVMWIGNP$CD$/%HH%TCYHD5[F  )TÒPG2CVKPCUGJTUEJÌP  “5GZVCPUX%JT4QOCPQP[OI/GTEWTMQRHTFCTÒDGT\YGK9GTVMWIGNP2TQTC TFCTWPVGT\YGK9GTVMWIGNP$/%%TCYH5[F &WPMGNITÒPG2CVKPCHCUVUGJTUEJÌP 

1080

  

    128

1081

1079

Õ&GPCT PCEJ  X %JT 4QO CPQP[O  I 4QOCMQRH T OKV IGHNÒIGNVGO *GNO FCJKPVGT :   &KQUMWTGPTGKVGPTWPVGPKP4CJOGP41/#$/%%TCYH5[F  -N4CPFHGJNGTOKPMQTTQFKGTVFGPPQEJCVVTCMVKXGU'ZGORNCTUGJTUEJÌPpXQT\ÒINKEJ Õ8KEVQTKCVPCEJX%JT4QOCPQP[OI,WRKVGTMQRHTOKV.QTDGGTMTCP\8KEVQTKCUVGJV TWPFDGMT·P\V6TQRJ·G$CD$/%%TCYH5[F (CUVXQT\ÒINKEJ Õ8KEVQTKCV PCEJ  X %JT 4QO CPQP[O  I ,WRKVGTMQRH T8KEVQTKC UVGJV T WPF DGMT·P\V   6TQRJ·G$/%%TCYH5[F 5GJTUEJÌP

1082



1078 Æ

1076 Æ

1077 Æ

1083

1084

1085

  

1086

Õ8KEVQTKCV PCEJ  X %JT 4QO CPQP[O  I ,WRKVGTMQRH T8KEVQTKC UVGJV T WPF DGMT·P\V   6TQRJ·G$/%%TCYH5[F 5GJTUEJÌP Õ8KEVQTKCV PCEJ  X %JT 4QO CPQP[O  I ,WRKVGTMQRH T8KEVQTKC UVGJV T WPF DGMT·P\V   6TQRJ·G$/%%TCYH5[F 5GJTUEJÌP Õ3WKPCT PCEJ  X %JT 4QO CPQP[O  I 4QOCMQRH T FCJKPVGT 8&KQUMWTGP TGKVGP T   WPVGPCWH$CNMGP41/#$CD$/%%TCYH5[F 5GJTUEJÌP Õ3WKPCT PCEJ  X %JT 4QO CPQP[O  I 4QOCMQRH T FCJKPVGT 8&KQUMWTGP TGKVGP T   WPVGPCWH$CNMGP41/#$CD$/%%TCYH5[F .GKEJVFG\GPVTKGTVUGJTUEJÌP Õ&GPCT  X %JT 4QO &GEKOKWU(NCXWUI4QOCMQRHTFCJKPVGT:8KEVQTKCKP$KICT $CD$/%%TCYH5[F )WVGUUGJTUEJÌP

    


1088

1087

1090



Õ&GPCT  X %JT 4QO % +WPKWU  I 4QOCMQRH T FCJKPVGT :&KQUMWTGP TGKVGP T $CD   $/%%TCYH5[F (CUVXQT\ÒINKEJ





Õ&GPCT  X %JT 4QO % %WTKCVKWU H 6TKIGOKPWU  I 4QOCMQRH T,WPQ KP 3WCFTKIC   TXQP8KEVQTKCDGMT·P\V$CD$/%%TCYHC5[F 8QT\ÒINKEJ





Õ&GPCT  X %JT 4QO 3 /CTEKWU 2JKNKRRWU  I 4QOCMQRH T FCJKPVGT :/CMGFQPK   UEJGT 4GKVGT T FCJKPVGT OCMGFQPKUEJGT *GNO $CD  $/%  %TCYH  5[F  &C\W   GKPYGKVGTGT4GRWDNKMFGPCT$CD$/%%TCYH5[F  5VÒEM)WVGUUGJTUEJÌPWPFUGJTUEJÌP



Õ&GPCT  X %JT 4QO % %NCWFKWU 2WNEJGT  I 4QOCMQRH T8KEVQTKC KP $KIC T   $CD$/%%TCYH5[F 2T·IGUEJY·EJGPHCUVXQT\ÒINKEJ





1092

1091

1093

1094



Õ&GPCT  X %JT 4QO % %NCWFKWU 2WNEJGT  I 4QOCMQRH T8KEVQTKC KP $KIC T   $CD$/%%TCYH5[F 5GJTUEJÌP





Õ&GPCT  X %JT 4QO . 6JQTKWU $CNDWU  I -QRH FGT NCXKPKUEJGP ,WPQ T5VKGT URTKPIV   TQDGP%$CD$/%%TCYH5[F 8QT\ÒINKEJ





Õ&GPCT  X %JT 4QO / .WEKNKWU 4WHWU I +P -TCP\ 4QOCMQRH T8KEVQTKC KP $KIC T   $CD$/%%TCYH5[F 5GJTUEJÌPpXQT\ÒINKEJ





Õ&GPCT  X %JT 4QO . %CNRWTPKWU 2KUQ  I #RQNNQMQRH T OKV .QTDGGTMTCP\ FCJKPVGT   5KORWNWO ! 4GKVGT T OKV 2CNO\YGKI FCTWPVGT 1 $CD  $/%  %TCYH  5[F  XGTIN   HH 8QT\ÒINKEJ



1,5:1



1095

1,5:1

Õ&GPCT WO  X %JT $QXKCPWO !  CPQP[O  I -QRH FGT +VCNKC N OKV .QTDGGTMTCP\ T   8+6'.+7 KP QUMKUEJGT 5EJTKHV  +VCNKC 5QNFCV UVGJV X X OKV 5RGGT -QRH T FCPGDGP NCIGTV 5VKGT   XX5[F 44#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC



 X %JT ITÒPFGVGP FKG KVCNKUEJGP $WPFGUIGPQUUGP 4QOU FGPGP FCU TÌOKUEJG $ÒTIGTTGEJV \WP·EJUV XGTURTQEJGP   FCPP CDGT XGTYGKIGTV YQTFGP YCT GKPGP GKIGPGP 5VCCV PCOGPU +VCNKC FCJGT CWEJFGT+VCNKCMQRHCWHFGO#XGTUFGU 5VÒEMGU  OKV %QTHKPKWO CNU *CWRVUVCFV 0CEJ FGO (CNN %QTHKPKWOU YWTFG HÒT MWT\G <GKV $QXKCPWO \WT   *CWRVUVCFV+PGKPGOFTGKL·JTKIGPDNWVKIGP-TKGIIGNCPIGU4QO+VCNKGPYKGFGTXÌNNKI\WWPVGTYGTHGP

1096

 

1097

Õ&GPCT  X %JT 4QO / 2QTEKWU %CVQ  I 4QOCMQRH !  T8KEVQTKC UKV\V T OKV 2CVGTC   WPF2CNO\YGKI56WPVGT5VWJN$CD$/%%TCYHE5[FC  (GKPG6ÌPWPIHCUVXQT\ÒINKEJ



Õ&GPCT  X %JT 4QO % )CTIQPKWU 1IWNPKWU / 8GTIKNKWU  I #RQNNQMQRH T WPVGP   $NKV\,WRKVGTKP3WCFTKICTQDGP&$CD$/%XGTIN%TCYH##5[FD  5GJTUEJÌP

 129


1098

1099

1,5:1



1,5:1

Õ&GPCT  X %JT 4QO CPQP[O  I #RQNNQMQRH T OKV .QTDGGTMTCP\ ÒDGT $NKV\,WRKVGT KP   3WCFTKICT$CD$/%%TCYH#5[F 8QT\ÒINKEJ



&KG &CTUVGNNWPI FKGUGU UEJTKHVNQUGP &GPCTU \GKIV FC­ GT WPVGT FGP +++XKTK CCCHH % )CTIQPKWU / 8GTIKNKWU WPF   1IWNPKWUIGRT·IVYWTFG



Õ&GPCT 5GTTCVWU   X %JT 4QO 3 #PVQPKWU $CNDWU  I ,WRKVGTMQRH T OKV .QTDGGT   MTCP\8KEVQTKCKP3WCFTKICTWPVGP)$CD$/%%TCYHF5[FD  4ÒEMUGKVGNGKEJVFG\GPVTKGTVXQT\ÒINKEJGU2TCEJVGZGORNCT

1100



1101

1,5:1

1,5:1

1,5:1

1,5:1



Õ&GPCTX%JT4QO2%TGRWUKWUI#RQNNQMQRHTOKV.QTDGGTMTCP\WPF<GRVGT\YKUEJGP +WPF.KVWWU ! 4GKVGTT$CD$/%%TCYHE5[FC 8QT\ÒINKEJGU2TCEJVGZGORNCT





Õ&GPCTX%JT4QO./CTEKWU%GPUQTKPWUI#RQNNQMQRHT/CTU[CUIGJVNOKV9GKP UEJNCWEJFCJKPVGT5·WNGOKV5VCVWGFGT8KEVQTKC$CD$/%%TCYHF5[F  8QT\ÒINKEJ



#WH FGT 4ÒEMUGKVG FGU 5VÒEMGU KUV GKPG CWH FGO (QTWO KP FGT 0·JG FGU RT·VQTKUEJGP 6TKDWPCNU DGHKPFNKEJG 5VCVWG   FCTIGUVGNNV -QRKGP FKGUGT 5VCVWG KP XGTUEJKGFGPGP 5V·FVGP FGU 4GKEJGU XGTMÒPFGVGP KP UR·VGTGT <GKV FC­ FKG   LGYGKNKIG5VCFVOKVFGO+WU+VCNKEQTWODGUEJGPMVYQTFGPYCT

1102

1104

1103

1,5:1

1,5:1



Õ&GPCT  XQT %JT 4QO . /CTEKWU %GPUQTKPWU  I #RQNNQMQRH T/CTU[CU IGJV N OKV   9GKPUEJNCWEJ FCJKPVGT 5·WNG OKV 5VCVWG FGT 8KEVQTKC $CD  $/%  %TCYH  F 5[F    8QT\ÒINKEJ





Õ&GPCT  X %JT PQTFKVCNKUEJG /ÒP\UV·VVG 3 %CGEKNKWU /GVGNNWU 2KWU  I 2KGVCUMQRH T   FCXQT5VQTEJ'NGHCPVIGJVN$CD$/%%TCYH5[F 45GJTUEJÌP



&GP $GKPPCOGP 2KWU  WPF FCJGT FKG 2KGVCU CWH FGT 8QTFGTUGKVG  GTJKGNV /GVGNNWU YGKN GT FCU TÌOKUEJG 8QNM   ÒDGT\GWIVGUGKPGP8CVGTCWUFGO'ZKN\WTÒEM\WTWHGP



Õ&GPCT 5GTTCVWU   X %JT 4QO # 2QUVWOKWU #NDKPWU  I &TCRKGTVG $ÒUVG FGT &KCPC T   ÒDGT FGT 5EJWNVGT $QIGP WPF -ÌEJGT FCTÒDGT $WETCPKWO6QICVWU UVGJV N XQT #NVCT WPF J·NV #URGT   IKNNWOÒDGT4KPF$CD$/%%TCYH5[F  .GKEJVFG\GPVTKGTVXQT\ÒINKEJpUVGORGNHTKUEJGU2TCEJVGZGORNCT ªDGT FKG CWH FGT /ÒP\G FCTIGUVGNNVG )GUEJKEJVG DGTKEJVGV .KXKWU +   'KP 5CDKPGT DGUC­ GKPG -WJ XQP   WPIGYÌJPNKEJGT )TÌ­G WPF 5EJÌPJGKV &KG 9CJTUCIGT RTQRJG\GKVGP FGT 5VCCV FGUUGP $ÒTIGT FCU 6KGT FGT &KCPC   QRHGTVGP YÒTFG FGT 5KV\ GKPGU +ORGTKWOU YGTFGP &GT 5CDKPGT DTCEJVG FCU 4KPF \WO &KCPCVGORGNKP4QOWOGU \W QRHGTP YWTFG CDGT WPVGT GKPGO 8QTYCPFYGIIGUEJKEMVUQFC­GKP4ÌOGTFCU6KGTQRHGTPMQPPVG&KG*ÌTPGT YWTFGPKO&KCPCVGORGNKP4QOCWHDGYCJTV

130




1105

1107

1106

1108

1109

1,5:1



Õ&GPCT  X %JT 4QO . 2TQEKNKWU  I ,WRKVGTMQRH T,WPQ 5QURKVC UVGJV T OKV 5EJKNF   WPF5RGGTFCXQT5EJNCPIG$CD$/%%TCYH5[F 8QT\ÒINKEJ





Õ&GPCT 5GTTCVWU X%JT4QO%2QDNKEKWUI4QOCDÒUVGTQDGP'*GTCMNGUNGTYÒTIV FGPPGOGKUEJGP.ÌYGPWPVGP-GWNG-ÌEJGTOKV2HGKNGPWPF$QIGPVCUEJG$CD$/%%TCYH 5[F <YGKMNGKPG2WP\GPCWHFGT8QTFGTUGKVGUGJTUEJÌP





Õ&GPCT 5GTTCVWU X%JT4QO%0CGXKWU$CNDWUI8GPWUMQRHT8KEVQTKCKP6TKICT QDGP/$CD$/%XGTIN%TCYHD5[FC 5GJTUEJÌP





Õ&GPCT 5GTTCVWU X%JT4QO6K%NCWFKWUI&KCPCDÒUVGTÒDGTFGT5EJWNVGT$QIGPWPF -ÌEJGT8KEVQTKCKP$KICTWPVGP#::8$CD$/%%TCYH5[F 8QT\ÒINKEJ





Õ&GPCT  X %JT 4QO . 4WVKNKWU (NCEEWU  I 4QOCMQRH T8KEVQTKC KP $KIC T $CD    $/%%TCYH5[FC 8QT\ÒINKEJ



1110







Õ&GPCT  X %JT 4QO % *QUKFKWU )GVC  I &TCRKGTVG $ÒUVG FGT &KCPC T OKV &KCFGO   ÒDGT FGT 5EJWNVGT $QIGP WPF -ÌEJGT'DGT T XQP GKPGO 5RGGT XGTYWPFGV WPF XQP GKPGO *WPF   CVVCEMKGTV$CD$/%%TCYH5[F (CUVXQT\ÒINKEJ



Õ&GPCTX%JT4QO%%CNRWTPKWU2KUQI#RQNNQMQRHTFCJKPVGTG4GKVGTTOKV2CNO DNCVVQDGPC$CD$/%%TCYHC5[F  -TCV\GTCWHFGO#XGTU4GXGTUNGKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJXQT\ÒINKEJ



Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T FCJKPVGT 4CF4GKVGT T OKV   2CNODNCVVQDGP5VGTP$CD$/%%TCYHC5[FG 8QT\ÒINKEJ



1,5:1



1112

1111

1113

1,5:1

Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T FCJKPVGT .[TC4GKVGTTOKV 2CNODNCVV$CD$/%%TCYHD5[FK 8QT\ÒINKEJ

1114

1115



1116



Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T4GKVGT OKV 2CNODNCVV T   $CD$/%%TCYHD5[F )WVGUUGJTUEJÌP





Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T4GKVGT N OKV 2GKVUEJG WPF   (CEMGN$CD$/%%TCYHD5[F (CUVXQT\ÒINKEJ





Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T4GKVGT T OKV 2CNODNCVV   QDGPL$CD$/%%TCYHD5[FC 5GJTUEJÌP

 131


1118

1117

1119

1,5:1

1,5:1



Õ&GPCTX%JT4QO%%CNRWTPKWU2KUQI#RQNNQMQRHTFCJKPVGT5EJNÒUUGN4GKVGTTOKV 2CNO\YGKIQDGP(CEMGN$CD$/%%TCYHC5[FK 8QT\ÒINKEJp5VGORGNINCP\





Õ&GPCT  X %JT 4QO % %CNRWTPKWU 2KUQ  I #RQNNQMQRH T FCJKPVGT 5EJNÒUUGN4GKVGT   TOKV2CNODNCVV$CD$/%%TCYHC5[FK 8QT\ÒINKEJ





Õ&GPCT 5GTTCVWU X%JT4QO.4QUEKWU(CDCVWUI-QRHFGT,WPQ5QURKVCTKO<KG IGPHGNN/·FEJGP UVGJV TFCXQT5EJNCPIGFCJKPVGT<GRVGT$CD$/%%TCYH5[F  8QT\ÒINKEJ



#PN·­NKEJFGUL·JTNKEJYKGFGTMGJTGPFGP(GUVGUFGT,WPQ5QURKVCKP.CPWXKWOOW­VGGKPG,WPIHTCWFKGKO-GNNGTFGU 6GORGNU NGDGPFG 5EJNCPIG HÒVVGTP 9GPP FCU /·FEJGP MGWUEJ YCT DNKGD GU FCDGK WPXGTUGJTV CPUQPUVGP YWTFG GU   XQPFGT5EJNCPIGIGVÌVGV

1120

1121

1122

1124

1123

1125



Õ&GPCT 5GTTCVWU X%JT4QO.4QUEKWU(CDCVWUI-QRHFGT,WPQ5QURKVCTKO<KG IGPHGNN FCJKPVGT 2HNWI/·FEJGP UVGJV T FCXQT 5EJNCPIG $CD  $/%  %TCYH  5[F     (CUVXQT\ÒINKEJ





Õ&GPCT 5GTTCVWU   X %JT 4QO . 4QUEKWU (CDCVWU  I -QRH FGT ,WPQ 5QURKVC T KO   <KGIGPHGNN FCJKPVGT &GEMGNIGH·­/·FEJGP UVGJV T FCXQT 5EJNCPIG FCJKPVGT 5VCD $CD  $/%    %TCYH5[F 8QT\ÒINKEJ





Õ&GPCT 5GTTCVWU   X %JT 4QO . 4QUEKWU (CDCVWU  I -QRH FGT ,WPQ 5QURKVC T KO   <KGIGPHGNNFCJKPVGTOGPUEJNKEJGT(W­/·FEJGPUVGJVTFCXQT5EJNCPIGFCJKPVGT$GK\GKEJGP$CD $/%%TCYH5[F (CUVXQT\ÒINKEJ





Õ&GPCT 5GTTCVWU   X %JT 4QO . 4QUEKWU (CDCVWU  I -QRH FGT ,WPQ 5QURKVC T KO   <KGIGPHGNN FCJKPVGT 6QTSWGU!/·FEJGP UVGJV T FCXQT 5EJNCPIG FCJKPVGT 5 $CD  $/%    XGTIN%TCYH5[F (CUVXQT\ÒINKEJ





Õ&GPCTX%JT4QO.%CUUKWU.QPIKPWUI8GTUEJNGKGTVG8GUVCDÒUVGNFCJKPVGT-[NKZ 6QICVWUUVGJVNWPFYKTHV5VKOOUVGKPOKV8KP7TPG$CD$/%%TCYH5[F  .GKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ



&KG 4GXGTUFCTUVGNNWPI DG\KGJV UKEJ XGTOWVNKEJ CWH GKPG #DUVKOOWPI KO ,CJTG  X %JT .GZ %CUUKC VCDGNNCTKC    /KV 8 VK TQICU  YCU FW IGHTCIV JCUV  UVKOOVG FGT $ÒTIGT \W &KG 8QTFGTUGKVG KUV GKPG #PURKGNWPI CWH FGP 8GUVC   NKPPGP2TQ\G­X%JTDGKFGOGKP8QTHCJTFGU/ÒP\OGKUVGTUFGP8QTUKV\HÒJTVG



Õ&GPCTX%JT4QO.%CUUKWU.QPIKPWUI8GTUEJNGKGTVG8GUVCDÒUVGNFCXQT%FCJKP VGT -[NKZ6QICVWU UVGJV N WPF YKTHV 5VKOOUVGKP OKV 8 KP 7TPG $CD  $/%  %TCYH    5[F 5GJTUEJÌP

1,5:1



1126

1,5:1

Õ&GPCTX%JT4QO.(WTKWU$TQEEJWUI%GTGUMQRHT\WLGFGT5GKVGGKPGJTG%WTW NKUEJGT5VWJN\WDGKFGP5GKVGP(CUEGU$CD$/%%TCYH5[F  5EJÌPG2CVKPCIWVGUUGJTUEJÌP &GT6[RDG\KGJVUKEJCWHFKGEWTCCPPQPCGWOFKGUKEJFKGFKNG\WMÒOOGTPJCVVGP

132






1128

1127

1,5:1

1,5:1



1129

Õ&GPCTX%JT4QO.#GOKNKWU2CWNNWUI8GTUEJNGKGTVGT-QRHFGT%QPEQTFKCOKV&KCFGO T6TQRJ·G 2GTUGWU UVGJV OKV UGKPGP DGKFGP 5ÌJPGP T .GRKFWU UVGJV N QDGP 6'4 $CD  $/%   %TCYH5[F .GKEJVFG\GPVTKGTVHCUVXQT\ÒINKEJ



. #GOKNKWU 2CWNNWU JCVVG  X %JT FKG GPVUEJGKFGPFG 5EJNCEJV DGK 2[FPC IGIGP 2GTUGWU IGUEJNCIGP WPF ICP\   /CMGFQPKGPGTQDGTV



Õ&GPCT  X %JT 4QO . 5ETKDQPKWU .KDQ  I -QRH FGU $QPWU 'XGPVWU T2WVGCN 5ETKDQ   PKCPWO OKV )KTNCPFGP WPF \YGK .[TGP IGUEJOÒEMV CP FGT $CUKU *COOGT $CD  XCT $/%    %TCYHC5[F (CUVXQT\ÒINKEJ



&CU2WVGCNUVGJVCWHFGO(QTWO4QOCPWO



Õ&GPCT  X %JT 4QO / 0QPKWU 5WHGPCU  I -QRH FGU 5CVWTP T FCJKPVGT *CTRC WPF   MQPKUEJGU 1DLGMV4QOC UKV\V N OKV 5RGGT WPF 5EJYGTV XQP 8KEVQTKC DGMT·P\V $CD  $/%    %TCYH5[F 4GXGTUNGKEJVFG\GPVTKGTVCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



&KG 4ÒEMUGKVGP7OUEJTKHV NCWVGV 5':VWU 010+WU 24CGVQT .WFQU 8KEVQTKCG 2TKOWU (GEKV WPF DG\KGJV UKEJ CWH FKG   'KPHÒJTWPI FGT .WFK 8KEVQTKCG PCEJ 5WNNCU 5KGICO%QNKPKUEJGP6QTX%JT&GT5VGKPCWHFGT8QTFGTUGKVGYCT XGTOWVNKEJFGTLGPKIGFGPOCP5CVWTPCP5VGNNGXQP<GWUWPVGTUEJQD'TYWTFGKP&GNRJKIG\GKIVWPFXGTGJTV

1131

1130



1132

Õ&GPCT  X %JT 4QO . /CTEKWU 2JKNKRRWU  I -QRH FGU #PEWU /CTEKWU T OKV &KCFGO   FCJKPVGT .KVWWU4GKVGTUVCVWG T CWH #SW·FWMV CWU FGO GKPG $NWOG Y·EJUV $CD  $/%    %TCYH5[F (CUVXQT\ÒINKEJGU'ZGORNCTOKVJGTTNKEJGT2CVKPC



3 /CTEKWU 4GZ FGT FWTEJ FCU 5VCPFDKNF IGGJTV YWTFG XQNNGPFGVG FKG 9CUUGTNGKVWPI #SWC /CTEKC FKG \WO   -CRKVQNHÒJTVG



Õ&GPCTX%JT4QO(CWUVWU%QTPGNKWU5WNNCI&TCRKGTVG$ÒUVGFGT8GPWUTOKV&KCFGO ÒDGT FGT 5EJWNVGT <GRVGT&TGK 6TQRJ·GP \YKUEJGP %CRKU WPF .KVWWU $CD  $/%  %TCYH   5[F 2TÒHRWP\GCWHFGO#XGTUCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC



&GT /ÒP\OGKUVGT YCT FGT 5QJP FGU &KMVCVQTU 5WNNC WPF FGT 5EJYKGIGTUQJP FGU 2QORGKWU \W FGUUGP .GICVGP GT   DGKO (GNF\WI KO ÌUVNKEJGP /KVVGNOGJT IGJÌTVG &KG FTGK 6TQRJ·GP CWH FGO 4GXGTU GPVURTGEJGP FGT &CTUVGNNWPI   CWHFGO5KGIGNTKPIFGU2QORGKWU UKGJG&KQ:.+++ 



Õ&GPCT  X %JT 4QO % /GOOKWU I %GTGUMQRH T)GHCPIGPGT MPKGV T FCJKPVGT 6TQ   RJ·G$CD$/%%TCYH5[F )WVGUUGJTUEJÌP



&GT/ÒP\OGKUVGTYCTFGT5EJYKGIGTUQJP5WNNCUGTYCT2TQRT·VQTKP$KVJ[PKGP

1,5:1



1133 1,5:1

Õ&GPCT  X %JT 4QO % /GOOKWU  I 3WKTKPWUMQRH T%GTGU UKV\V T OKV (CEMGN WPF   JTGPFCXQT5EJNCPIG$CD$/%%TCYH5[F 5GJTUEJÌPDKUXQT\ÒINKEJ



&GT 3WKTKPWUMQRH FGT 8QTFGTUGKVG MÌPPVG CWH GKPG UCDKPKUEJG *GTMWPHV FGU /ÒP\OGKUVGTU JKPYGKUGP %TCYHQTF 5     QFGT YGPP FKG 8QTFGTUGKVGPFCTUVGNNWPI FKGUGU 5VÒEMU OKV FGT 4ÒEMUGKVGPFCTUVGNNWPI FGU &GPCTU %TCYHQTF    KP <WUCOOGPJCPI UVGJV CWH FKG 9GKJWPI GKPGU 5KGIGU\GKEJGPU KO 6GORGN FGU 3WKTKPWU FGWVGP # #NHÌNFK   -QORNGOGPV·TG &QRRGNV[RGP KP FGT &GPCTRT·IWPI FGT TÌOKUEJGP 4GRWDNKM KP 5EJYGK\GT /ÒP\DN·VVGT  5     &KG 4ÒEMUGKVG DG\KGJV UKEJ CWH FKG GTUVG 8GTCPUVCNVWPI GKPGU CNVGP %GTGU(GUVGU FWEJ GKPGP /GOOKGT YQJNWO X%JT 

133


1135

1134

1,5:1



1136

1,5:1

Õ&GPCTX%JT4QO/,WPKWU$TWVWUI.KDGTVCUDÒUVGT&GT-QPUWN.,WPKWU$TWVWU IGJV\YKUEJGP\YGK.KMVQTGPNFCXQT#EEGPUWU$CD$/%%TCYH5[F   )WVGUUGJTUEJÌP



3 %CGRKWU $TWVWU  UGKV UGKPGT #FQRVKQP / ,WPKWU $TWVWU YCT GKPGT FGT UR·VGTGP %CGUCTOÌTFGT WPF DGIGIPGV   &CPVGCNUUQNEJGTCWHUGKPGO9GIFWTEJFKG*ÌNNG&KG4ÒEMUGKVG\GKIVFGP8QTHCJTGPFGU/ÒP\OGKUVGTUFGTX %JT FGT 6TCFKVKQP PCEJ FGP NGV\VGP -ÌPKI 6CTSWKPKWU 5WRGTDWU CWU 4QO XGTVTKGD WPF FCOKV FKG 4GRWDNKM   DGITÒPFGVG&KG4ÒEMUGKVGKUVFCU8QTDKNFHÒTFKG)QNFUVCVGTGFGU-QUQP



Õ&GPCT  X %JT 4QO / ,WPKWU $TWVWU  I -QRH FGU . ,WPKWU $TWVWU T-QRH FGU %   5GTXKNKWU#JCNCT$CD$/%%TCYH5[F 8QT\ÒINKEJ



&GT /ÒP\OGKUVGT KUV FGT UR·VGTG %CGUCTOÌTFGT 'T \GKIV JKGT FWTEJ FKG $KNFGT \YGKGT 8QTHCJTGP UGKPG UVTGPI   TGRWDNKMCPKUEJG )GUKPPWPI \WO GKPGP . ,WPKWU $TWVWU FGT FKG VCTSWKPKUEJGP -ÌPKIG XGTVTKGD WPF \WO CPFGTGP   %5GTXKNKWU#JCNCFGTFGP5VCCVXQT5RWTKWU/CGNKWUTGVVGVG



Õ&GPCT  X %JT 4QO / ,WPKWU $TWVWU  I -QRH FGU . ,WPKWU $TWVWU T-QRH FGU %   5GTXKNKWU#JCNCT$CD$/%%TCYH5[F 5GJTUEJÌP

1137

1,5:1



1138



1139

1,5:1

Õ&GPCT  X %JT 4QO 3 2QORGKWU 4WHWU  I %WTWNKUEJGT 5VWJN \YKUEJGP 2HGKN WPF .QT   DGGT\YGKI%WTWNKUEJGT5VWJN\YKUEJGP.KVWWUWPF-TCP\$CD$/%%TCYH5[F  8QT\ÒINKEJ



&KG /ÒP\G HGKGTV FKG DGKFGP )TQ­X·VGT FGU /ÒP\OGKUVGTU GKPOCN 3 2QORGKWU 4WHWU :XKT 2HGKN WPF <YGKI    WPF 5WNNC #WIWT .KVWWU  FKG \WUCOOGP KO ,CJT  X %JT -QPUWNP YCTGP &GT /QPGVCT YQNNVG UKEJ FCOKV HÒT   JÌJGTG#WHICDGPGORHGJNGPFGPPGKPGXQTPGJOGTG#DMWPHVCNUXQP\YGK%QPUWNCTGPYCTMCWOOÌINKEJ



Õ&GPCT  X %JT 4QO 3 5KEKPKWU  I (QTVWPCMQRH T OKV &KCFGO%CFWEGWU WPF 2CNO   \YGKIÒDGT-TGW\QDGP-TCP\$CD$/%%TCYH5[F (CUVXQT\ÒINKEJ



&GT/ÒP\OGKUVGTIKPIPQEJKOUGNDGP,CJTOKV2QORGKWUKPFGP1UVGPUKGJG0T



Õ&GPCTX%JT4QO/P#EKNKWUI5CNWUMQRHT8CNGVWFQUVGJVNOKV5EJNCPIGWPFNGJPV CP5·WNG$CD$/%%TCYH5[F (CUVXQT\ÒINKEJ

1,5:1



1140

1,5:1

Õ&GPCT  X %JT 4QO /P #EKNKWU  I 5CNWUMQRH T8CNGVWFQ UVGJV N OKV 5EJNCPIG CWH   5·WNGIGUVÒV\V$CD$/%%TCYHC5[F  9KP\-TCV\GTFGPPQEJCVVTCMVKXGUXQT\ÒINKEJGU'ZGORNCT 5CNWU WPF 8CNGVWFQ UVGJGP HÒT FKG IWVG )GUWPFJGKV &GT /ÒP\OGKUVGT YKNN FCOKV \WO #WUFTWEM DTKPIGP FC­ FGT   IGPU #EKNKC FCU 8GTFKGPUV FGT 'KPHÒJTWPI CPUV·PFKIGT OGFK\KPKUEJGT 8GTUQTIWPI KP 4QO \WMQOOV +O ,CJTG    X%JTJCVVGFGTITKGEJKUEJG#T\V#TEJCICVJWUCPGKPGTPCEJFGTIGPU#EKNKCDGPCPPVGP5VTC­GPMTGW\WPIGKPG2TCZKU GKPIGTKEJVGV

134






1142

1141







1143

1144

Õ&GPCTX%JT4QO.*QUVKNKWU5CUGTPCI-QRHFGT%NGOGPVKC ! TOKV&KCFGOWPF'K EJGPMTCP\8KEVQTKCIGJVTOKV6TQRJ·GWPF%CFWEGWU$CD$/%HH%TCYH5[F 5GJTUEJÌPGU'ZGORNCTOKVHGKPGT6ÌPWPI



Õ&GPCTX%JT4QO.*QUVKNKWU5CUGTPCI-QRHFGT)CNNKCTFCJKPVGT%CTP[Z#TVGOKU UVGJVXXOKV5RGGTNURTKPIV*KTUEJN$CD$/%%TCYH5[F  4'VYCUMQTTQFKGTVUGJTUEJÌP



Õ&GPCT  X %JT 4QO % 8KDKWU 2CPUC  I 2CPOCUMG T FCJKPVGT 2GFWO,WRKVGT #ZWTWU   UKV\VNOKV2CVGTCWPF<GRVGT$CD$/%%TCYHD5[F  5GJTUEJÌPGU'ZGORNCTOKVHGKPGT6ÌPWPI



&KG2CPOCUMGKUVGKPG#PURKGNWPICWHFGP$GKPCOGPFGU/ÒP\OGKUVGTU



Õ&GPCTX%JT4QOI&GEKOWU2QUVWOKWU#NDKPWU$TWVKHI2KGVCUMQRHT<YGK *·PFGJCNVGP%CFWEGWU$CD$/%%TCYH5[F .GKEJVFG\GPVTKGTVXQT\ÒINKEJ



&GT/ÒP\OGKUVGTKUVGKPGTFGTUR·VGTGP%CGUCTOÌTFGT&KG4ÒEMUGKVGFGU5VÒEMGUU[ODQNKUKGTVFKGENGOGPVKC%CGUCTKU

1146

1145

1,5:1

1,5:1





Õ&GPCTX%JT4QOI&GEKOWU2QUVWOKWU#NDKPWU$TWVKHI2KGVCUMQRHT<YGK *·PFGJCNVGP%CFWEGWU$CD$/%%TCYH5[F  2T·IGUEJY·EJGCO4CPFNGKEJVFG\GPVTKGTVXQT\ÒINKEJ



Õ&GPCT  X %JT 4QO . 2NCWVKWU 2NCPEWU  I /GFWUGPJCWRV X X#WTQTC HNKGIV T WPF   HÒJTVFKG2HGTFGFGU5QPPGPIQVVGU$CD$/%%TCYHC5[F  42TÒHRWP\GCWHFGO#XGTUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT6ÌPWPI



1147

1,5:1



1148

1,5:1

1,5:1

Õ&GPCTX%JT4QO%#PVKWU4GUVKQI-QRHFGU%#PVKWU4GUVKQT*GTEWNGUIGJVT OKV-GWNGWPF6TQRJ·G$CD$/%%TCYH5[F 5GJTUEJÌP



#WH FGO #XGTU FGU 5VÒEMGU KUV FGT 8CVGT FGU /ÒP\OGKUVGTU CDIGDKNFGV FGT KO ,CJT  X %JT 8QNMUVTKDWP YCT    X %JT HCPF UKEJ WPUGT /ÒP\OGKUVGT CWH FGP 2TQUETKRVKQPUNKUVGP FGT 6TKWOXKTP YKGFGT WPF HNQJ \W 5GZVWU   2QORGKWUPCEJ5K\KNKGP



Õ&GPCT  X %JT 4QO /P %QTFKWU 4WHWU  I 'WNG CWH MQTKPVJKUEJGO *GNO T#GIKU   OKV/GFWUGPJCWRVXGT\KGTV$CD$/%%TCYH5[F  5GJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC

 135


1149 Å

1,5:1



1,5:1

Ô#WTGWUX%JT4QO%8KDKWU8CTWUI#RQNNQMQRHTOKV.QTDGGTMTCP\8GPWUUVGJVN WPFDGVTCEJVGVUKEJKPGKPGO5RKGIGNFCJKPVGT5·WNG$CD$/%%CNKEQ%TCYH 5[F 44$TGKVGU'ZGORNCTXQPJGTXQTTCIGPFGO5VKNUGJTUEJÌPpXQT\ÒINKEJ  'ZGORNCT FGT 5COONWPI $GP\ #WMVKQP .CP\  /ÒPEJGP  0T  FGT /CKN $KF 5CNG (TGGOCP  5GCT    %JCVUYQTVJ  0T  FGT 5COONWPI 4 FG %CUVTQ /C[C #WMVKQP $QWTIG[ 2CTKU XQO  0T    WPFFGT5COONWPI8CNGVVG#WMVKQP(GWCTFGPV2CTKUXQO0T  

&CXKF 5GCT 6JG *KUVQT[ CPF %QKPCIG QH VJG 4QOCP +ORGTCVQTU  X %JT .QPFQP  5  0T     FKGU 'ZGORNCT CDIGDKNFGV  DG\KGJV UQYQJN FGP #RQNNQMQRH FGT 8QTFGTUGKVG CNU CWEJ FKG 8GPWU FGU 4GXGTUGU CWH   FCU )GUEJNGEJV FGT ,WNKGT &GT #WTGWU GTKPPGTV CNUQ CP FGP GTOQTFGVGP %CGUCT YCU UKEJGTNKEJ KP <WUCOOGPJCPI   OKVFGO-CORHFGT6TKWOXKTPIGIGPFKG%CGUCTOÌTFGTUVGJV

1151

1150



Õ&GPCTX%JT4QO%8KDKWU8CTWUI$CEEJWUMQRHTOKV'HGWMTCP\2CPVJGTURTKPIVN CP#NVCTCPFGO6J[TUWUNGJPV$CD$/%%TCYH5[F  4(GKPIGVÌPVNGKEJVFG\GPVTKGTVUGJTUEJÌPGU'ZGORNCT



&KGUG/ÒP\G\GKIVCWHDGKFGP5GKVGPFKQP[UKUEJG$G\ÒIGXGTOWVNKEJGKP*KPYGKUCWHFKG(COKNKGPVTCFKVKQP



Õ&GPCTX%JT4QO./WUUKFKWU.QPIWUI%QPEQTFKCMQRHTOKV&KCFGOWPF5EJNGKGT 5EJTGKPFGT8GPWU%NQCEKPC$CDXCT$/%%TCYHE5[FD 5GJTUEJÌP



&KG4ÒEMUGKVGIKDVGKPGP6GKNFGU(QTWOUYKGFGT

+/2'4#614+5%*'24)70)'0

1,5:1





1,5:1

%P 2QORGKWU /CIPWU OKPQT Ŏ  X %JT Õ&GPCT  X %JT MNGKPCUKCVKUEJG /ÒP\UV·VVG 3   5KEKPKWUWPF%%QRQPKWUI#RQNNQMQRHTOKV&KCFGOFCTWPVGT5VGTP-GWNGFCTÒDGT.ÌYGPHGNNN 2HGKNT$QIGP$CD$/%%TCYHC5GCT5[F .GKEJVFG\GPVTKGTVXQT\ÒINKEJ

1153



1152

1,5:1

1154

1,5:1

Õ&GPCT  X %JT %QTFWDC /CTEWU 2QDNKEKWU  I 4QOCMQRH T OKV *GNO*KURCPKC T   TGKEJVGKPGO5QNFCVGPGKPGP<YGKI$CD$/%%TCYHC5GCT5[F  .GKEJVFG\GPVTKGTV4ÒEMUGKVG\6UEJYCEJCWUIGRT·IVUGJTUEJÌP



%,WNKWU%CGUCTŎX%JTÕ&GPCTX%JT.CIGTOÒP\UV·VVGI'NGHCPVT2TKGUVGT IGT·VG$CD$/%%TCYH5GCT5[F  (CUVXQT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI



'ZGORNCTFGTV#WMVKQP-ÒPMGT1UPCDTÒEM0T  &KG 4ÒEMUGKVG \GKIV %CGUCTU #OV CNU 2QPVKHGZ OCZKOWU CP FKG GKP\KIG QHHK\KGNNG 5VGNNWPI FKG GT \W $GIKPP FGU   $ÒTIGTMTKGIGUDGMNGKFGVG

136




1155

1156

1157

1158

1159



Õ&GPCT  X %JT .CIGTOÒP\UV·VVG  I 'NGHCPV T2TKGUVGTIGT·VG $CD  $/%    %TCYH5GCT5[F &TWEMUVGNNGCO4CPFIWVGUUGJTUEJÌP



Õ&GPCT  X %JT .CIGTOÒP\UV·VVG  I 'NGHCPV T2TKGUVGTIGT·VG $CD  $/%    %TCYH5GCT5[F &G\GPVTKGTVIWVGUUGJTUEJÌP





Õ&GPCT  X %JT .CIGTOÒP\UV·VVG  I 'NGHCPV T2TKGUVGTIGT·VG $CD  $/%    %TCYH5GCT5[F 5GJTUEJÌP





Õ&GPCT  X %JT .CIGTOÒP\UV·VVG  I 'NGHCPV T2TKGUVGTIGT·VG $CD  $/%    %TCYH5GCT5[F 8QTFGTUGKVGNFG\GPVTKGTVUGJTUEJÌP





Õ&GPCT  X %JT .CIGTOÒP\UV·VVG KP #HTKEC  I 8GPWUMQRH T#GPGCU N VT·IV UGKPGP   8CVGT #PEJKUGU WPF FCU 2CNNCFKWO CWU FGO DTGPPGPFGP 6TQLC  $CD  $/%  %TCYH    5GCT5[F 8QT\ÒINKEJGU'ZGORNCTOKVHGKPGT2CVKPC





'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T

%CGUCTUVGNNVGKPUGKPGT2TQRCICPFCKOOGTYKGFGTUGKPG#DUVCOOWPIXQPFGPCWHFKGUGT/ÒP\GFCTIGUVGNNVGPO[VJK UEJGP 8QTHCJTGP JGTCWU #UECPKWU+WNWU FGT 5QJP FGU #GPGCU IKNV CNU 5VCOOXCVGT FGT ,WNKGT #GPGCU YKGFGTWO    UVCOOVG XQP 8GPWU CD *KGT XGTDKPFGV UKEJ FKG )TÒPFWPIUUCIG 4QOU U[ODQNKUKGTV FWTEJ FCU 2CNNCFKWO OKV FGO   7TURTWPIFGTIGPU+WNKC

1160

1,5:1

1,5:1



Õ&GPCTX%JT4QO25GRWNNKWU/CEGTI-QRH%CGUCTUTOKV.QTDGGTMTCP\FCJKPVGT CEJVUVTCJNKIGT5VGTP8GPWUUVGJVNOKV8KEVQTKCWPF<GRVGT$CD$/%%TCYHD5GCT C5[F 4*GTXQTTCIGPFGU2QTVT·VMN2TÒHRWP\GCWHFGO#XGTUUGJTUEJÌPpXQT\ÒINKEJ  %CGUCTVT·IVJKGTFKGEQTQPCCWTGCFGU6TKWORJCVQTUYKGDGKO.WRGTECNKGP(GUVX%JT&GT5VGTPKUVCNU<GKEJGP FGUGTYCTVGVGPPGWGP<GKVCNVGTUCP\WUGJGP

1161

1162



Õ&GPCT (GDTWCT/·T\  X %JT 4QO 2 5GRWNNKWU /CEGT  I -QRH %CGUCTU T OKV -TCP\   8GPWUUVGJVNOKV8KEVQTKCWPF<GRVGT$CD$/%%TCYH5GCTD5[F 4#O4CPFIGFTÒEMVUGJTUEJÌP 



Õ&GPCT  X %JT 4QO 2 5GRWNNKWU /CEGT  I 8KGTU·WNKIGT 6GORGN OKV )NQDWU KO )KGDGN   4GKVGT OKV *CPFRHGTF PCEJ T OKV 2GKVUEJG FCJKPVGT -TCP\ WPF 2CNODNCVV $CD  $/%    %TCYH5GCT5[F 8QPITQ­GT5GNVGPJGKV5GJTUEJÌP



&KG/ÒP\GDKNFGVFGP6GORGNCDFGPFGT5GPCVNCWV2NWVCTEJ %CGU %CGUCTGTTKEJVGPNCUUGPYQNNVG&KGUUQNNVG FKG&CPMDCTMGKVFGT5GPCVQTGPHÒTFKGXQP%CGUCTKO$ÒTIGTMTKGIIG\GKIVGENGOGPVKC /KNFG FGOQPUVTKGTGP&GT 5VCPFQTVFGU6GORGNUKUVWPDGMCPPV'UKUVCNNGTFKPIUWPMNCTQDFGT6GORGNLGOCNUIGDCWVYWTFG

137


1,5:1



1163

1164

1,5:1

Õ&GPCTX%JT4QO./WUUKFKWU.QPIWUI-QRH%CGUCTUTOKV.QTDGGTMTCP\(ÒNNJQTP CWH)NQDWU\YKUEJGP5VGWGTTWFGT%CFWEGWUWPF#RGZ$CDXCT$/%XCT%TCYH XCT5GCTXCT5[FEXCT -NGKPGT5VGORGNHGJNGTUGJTUEJÌPGU'ZGORNCT  'KPG 2TQRCICPFCRT·IWPI KP <WUCOOGPJCPI FGT #WUGKPCPFGTUGV\WPI \YKUEJGP /CTE #PVQP WPF 1EVCXKCP GKPGTUGKVU   WPFFGP%CGUCTOÌTFGTPCPFGTGTUGKVU



%%CUUKWU.QPIKPWUÕ&GPCTX%JT5O[TPC ! 2%QTPGNKWU.GPVWNWU5RKPVJGTI.K DGTVCUMQRHTOKV5EJNGKGTWPF&KCFGO-CPPGWPF.KVWWU$CD$/%%TCYH5GCT 5[F 5GJTUEJÌP



5RKPVJGT YCT  X %JT KP FCU -QNNGIKWO FGT #WIWTGP IGY·JNV YQTFGP WPF XGTYGKUV FWTEJ FKG 2TKGUVGTIGT·VG CWH   FGO4GXGTUCWHUGKP#OV

1165

1166

1167

1168

1,5:1



%P&QOKVKWU#JGPQDCTDWUÕ&GPCTX%JTWPDGMCPPVG/ÒP\UV·VVGI-QRHT2TQTCT FCTCWH6TQRJ·G$CD$/%%TCYH5GCT5[F 5GJTUEJÌP



&KG 4ÒEMUGKVG DG\KGJV UKEJ CWH FGP 5GGUKGI FGU #JGPQDCTDWU ÒDGT &QOKVKWU %CNXKPWU KO ,CJT  X %JT &COCNU   YWTFGGT\WO+ORGTCVQTCWUIGTWHGP



Õ&GPCT  X %JT WPDGMCPPVG /ÒP\UV·VVG  I -QRH T2TQTC T FCTCWH 6TQRJ·G $CD    $/%%TCYH5GCT5[F /GJTGTG2TÒHRWP\GPHCUVUGJTUEJÌP





5GZVWU 2QORGKWU Ŏ  X %JT Õ&GPCT  X %JT UK\KNKUEJG /ÒP\UV·VVG  I 2JCTQU XQP   /GUUKPC OKV 0GRVWPUVCVWG FCXQT )CNGGTG5E[NNC $CD  $/%  %TCYH  5GCT  5[F    45GJTUEJÌP





Õ&GPCTX%JTUK\KNKUEJG/ÒP\UV·VVGI-QRHFGU0GRVWPTOKV&KCFGOÒDGTFGT5EJWNVGT &TGK\CEM6TQRJ·G FCTÒDGT &TGK\CEM FCTWPVGT #PMGT CP FGT $CUKU FKG -ÌRHG XQP 5E[NNC WPF    %JCT[DFKU$/%%TCYHCD5GCT5[F -N-TCV\GTUGJTUEJÌP 

1170

1169 1,5:1



Õ&GPCTX%JTWPDGUVKOOVGUK\KNKUEJG/ÒP\UV·VVGI-QRHFGU2QORGKWUOCIPWUTN %CRKU T .KVWWU0GRVWP UVGJV N \YKUEJGP #PCRKCU WPF #ORJKPQOWU FKG KJTG 'NVGTP VTCIGP $/% $CD%TCYHC5GCT5[F 44/CTMCPVGU2QTVT·VMQTTQFKGTVUGJTUEJÌP  &KG $TÒFGT #PCRKCU WPF #ORJKPQOWU JCVVGP KJTG 'NVGTP Y·JTGPF GKPGU #WUDTWEJGU FGU #GVPC KP 5KEJGTJGKV   IGDTCEJV +P FKGUGT 4GXGTUFCTUVGNNWPI YKTF CNUQ RTCMVK\KGTVG 2KGVCU IG\GKIV YCU OKV FGT #PPCJOG FGU 6KVGNU   2KWUFWTEJ5GZVWU2QORGKWUKP<WUCOOGPJCPIUVGJGPFÒTHVG



/CTEWU#PVQPKWUŎX%JTÕ&GPCTX%JT2CVTCU ! I)CNGGTGT%1*146+5 52'%8.#6147/ &TGK 5VCPFCTVGP LGFG CWH 2TQTC WPF OKV\YGK-T·P\GPFGMQTKGTV$CD$/% %TCYH5GCT5[F (CUVUGJTUEJÌP &KG URGEWNCVQTGU YCTGP FKG -WPFUEJCHVGT D\Y 5R·JGT FGT TÌOKUEJGP #TOGG WPF KP FKGUGT (WPMVKQP HÒT FKG   'KP\GNCWHMN·TWPI \WUV·PFKI %CGU )CNN   +P LGFGT .GIKQP FKGPVGP  URGEWNCVQTGU /CTEWU #PVQPKWU UVGNNVG   GKPGGKIGPG-QJQTVGXQPURGEWNCVQTGUCWHFKGFCPPCWEJHÒT-WTKGTFKGPUVGJGTCPIG\QIGPYWTFG

138




1172

1171



1174

1173

Õ&GPCTX%JT2CVTCU ! I)CNGGTGT.')8+.GIKQPUCFNGT\YKUEJGP\YGK5VCPFCT VGP$CD$/%%TCYH5GCT5[F 9KP\-TCV\GTUGJTUEJÌP



8GTOWVNKEJJCPFGNVGUUKEJJKGTWOFKG.GIKQ8+8KEVTKZFKGPCEJ#EVKWO\WP·EJUVKP5[TKGPUVCVKQPKGTVYCTFCPP  ÒDGT 5RCPKGP CP FGP 4JGKP MCO *KGT YWTFG UKG \WP·EJUV KP 0QXCGUKWO 0GW­  UR·VGT KP 7NRKC 6TCKCPC  

:CPVGP UVCVKQPKGTV



Õ&GPCT  X %JT 2CVTCU !   I )CNGGTG T.') 8++ .GIKQPUCFNGT \YKUEJGP \YGK   5VCPFCTVGP$/%%TCYH5GCT5[F )WVGUUGJTUEJÌP



&KG .GIKQ 8++ %NCWFKC YCT WPVGT %CGUCT KP )CNNKGP UVCVKQPKGTV WPF YWTFG PCEJ FGO $ÒTIGTMTKGI PCEJ /QGUKGP   XGTNGIVYQKJT#D\GKEJGPFGT5VKGTPQEJKO,CJTJWPFGTVCWH/ÒP\GPXQP8KOKPCEKWOGTUEJGKPV



Õ&GPCT  X %JT 2CVTCU !   I )CNGGTG T.') :8+++ .GIKQPUCFNGT \YKUEJGP \YGK   5VCPFCTVGP$CD$/%%TCYH5GCT5[F 5GJTUEJÌPXQT\ÒINKEJ





Õ&GPCT  X %JT 2CVTCU !   I )CNGGTG T.') :8+++ .GIKQPUCFNGT \YKUEJGP \YGK   5VCPFCTVGP$CD$/%%TCYH5GCT5[F 5GJTUEJÌP



&KG.GIKQ:8+++IKPIKO,CJTGP%JTKPFGT8CTWUUEJNCEJVKP-CNMTKGUGDGK1UPCDTÒEMWPVGT&KGUG5EJNCEJVXGT NQT23WKPEVKNKWU8CTWUIGIGPGKPG-QCNKVKQPIGTOCPKUEJGT5V·OOGWPVGTFGT(ÒJTWPIFGU%JGTWUMGTHÒTUVGP#TOK PKWUGVYCTÌOKUEJG5QNFCVGPHCPFGPFGP6QF<WFGP6QVGPIGJÌTVGCWEJ/%CGNKWUGKP%GPVWTKQFGT .GIKQP FGUUGP KP :CPVGP IGHWPFGPGT )TCDUVGKP DKU JGWVG FGP GKP\KIGP GRKITCRJKUEJGP $GNGI HÒT FKG 8CTWUMCVC   UVTQRJGFCTUVGNNV  &GP#FNGTFGT.GIKQ:8+++MQPPVGPTÌOKUEJG6TWRRGPGKPKIG,CJTGUR·VGTGPVYGFGTXQPFGP/CTUGTP 6CE#PP++  QFGTFGP%JCWMGTP %CUU&KQ.: \WTÒEMIGYKPPGP  

1175



1177

1176

Õ&GPCT  X %JT 2CVTCU  I )CNGGTG T.') :+: .GIKQPUCFNGT \YKUEJGP \YGK 5VCP   FCTVGP$CD$/%%TCYH5GCT5[F )TCHHKVKUGJTUEJÌP



&KG .GIKQ :+: IKPI KP FGT 8CTWUUEJNCEJV KO ,CJTG  P %JTWPVGT&GP#FNGTFGT.GIKQPMQPPVGUR·VGTGKPGXQP )GTOCPKEWUIGIGPFKG$TWEVGTGTIGUCPFVGNGKEJVG*GGTGUCDVGKNWPIWPVGT.5VGTVKPKWU\WTÒEMIGYKPPGP



WPF1EVCXKCPWUÕ&GPCTX%JT.CIGTOÒP\UV·VVG/$CTDCVKWUI$GKFGTUGKVU-QRHT $CD$/%%TCYH5GCT5[F (CUVUGJTUEJÌP



5GCT XGTOWVGV FKG /ÒP\UV·VVG KP 'RJGUWU &GT /ÒP\OGKUVGT VT·IV FGP WPIGYÌJPNKEJGP 6KVGN 3 2 SWCGUVQT RTQ   RTCGVQTG 



Õ3WKPCTX%JTICNNKUEJG/ÒP\UV·VVGI%QPEQTFKCMQRHTOKV5EJNGKGT<YGK*·PFGJCNVGP %CFWEGWU$CD$/%%TCYHD5GCT5[F (CUVUGJTUEJÌP

1178







1179

WPF1EVCXKCÕ%KUVQRJQTX%JT'RJGUWUI-QRHTOKV'HGWMTCP\-QRHFGT1EVCXKCT CWH%KUVCO[UVKEC\YKUEJGP\YGK5EJNCPIGP$CD$/%42%5GCT5[F   45GJTUEJÌP



Õ%KUVQRJQT  X %JT 'RJGUWU  I -QRH T OKV 'HGWMTCP\-QRH FGT 1EVCXKC T CWH %KUVC   O[UVKEC\YKUEJGP\YGK5EJNCPIGP$CD$/%42%5GCT5[F  4-TCV\GT4CPFHGJNGTUGJTUEJÌP

 139


1181

1180 1,5:1



1,5:1

Õ%KUVQRJQT  X %JT 'RJGUWU  I $GKFGT $ÒUVGP T&KQP[UQU UVGJV N OKV -CPVJCTQU WPF   6J[TUQU CWH %KUVC O[UVKEC \YKUEJGP \YGK 5EJNCPIGP $CD  $/%  42%  5GCT  5[F    -N-TCV\GTCWHFGT8QTFGTUGKVGHCUVUGJTUEJÌP



&GT %KUVQRJQT GTKPPGTV CP FKG 'JGUEJNKG­WPI XQP 1EVCXKC FGT 5EJYGUVGT FGU 1EVCXKCPWU OKV /CTEWU #PVQPKWU   &KG 4ÒEMUGKVG HGKGTV FGP IÌVVNKEJGP 5VCVWU FGU 6TKWOXKTP CNU PGWGP &KQP[UKWU GKPG 'JTG FKG /CTEWU #PVQPKWU   KO,CJTX%JTDGKUGKPGT#PMWPHVKP'RJGUWUXGTNKGJGPYWTFG



 WPF .WEKWU #PVQPKWU Õ&GPCT  X %JT 'RJGUWU / %QEEGKWU 0GTXC  I $GKFGTUGKVU   -QRHT$CD$/%%TCYHC5GCT5[F  44#WHFGT4ÒEMUGKVGMNGKPG2T·IGUEJY·EJGCO4CPFUGJTUEJÌP

1182



1183



1184

/#GOKNKWU.GRKFWUŎX%JTWPF1EVCXKCPWUÕ&GPCTX%JTKVCNKUEJG.CIGTOÒP\UV·VVG I-QRHFGU.GRKFWUT-QRHFGU1EVCXKCPWUT$CD$/%%TCYHC5GCT5[F  8QPITQ­GT5GNVGPJGKV#XGTUUVCTMFG\GPVTKGTVUGJTUEJÌPGU'ZGORNCT



&C/CTE#PVQPU0COGHGJNVKUVCWEJUEJQPGKPGUR·VGTG&CVKGTWPIWPFGKPGCHTKMCPKUEJG/ÒP\UV·VVGXQTIGUEJNCIGP YQTFGP





1EVCXKCPWUÕ&GPCTX%JTKVCNKUEJG/ÒP\UV·VVGI-QRHT-TCP\CWHEWTWNKUEJGO5VWJN $CD$/%%TCYHC5GCT5[F  5EJTÌVNKPIUHGJNGTCWHFGT8QTFGTUGKVGUGJTUEJÌP



Õ&GPCTX%JT.CIGTOÒP\UV·VVGKP)TKGEJGPNCPFI&TCRKGTVG$ÒUVGTOKV*GNOWPF5RGGT .GIKQPUCFNGT\YKUEJGP\YGK5VCPFCTVGPFCJKPVGT6TQRJ·G$CD$/%%TCYH5GCT 5[F  9KP\5EJTÌVNKPIUHGJNGTCWHFGO#XGTUCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCTOKVUEJÌPGT6ÌPWPI



/ª0<'0&'44¤/+5%*'0-#+5'4<'+6

1185 1186 Æ



1187

#WIWUVWU  X P %JT Õ3WKPCT  X %JT 4QO  I -QRH T8KEVQTKC UVGJV N OKV   -TCP\WPF2CNODNCVVCWH%KUVCO[UVKEC\YKUEJGP\YGK5EJNCPIGP$/%%QJ4+%w  8QTFGTUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌP





“UWOX%JTMNGKPCUKCVKUEJG/ÒP\UV·VVGI-QRHT#8)85685KP.QTDGGTMTCP\42% 5GJTUEJÌP





Õ&GPCTX%JTURCPKUEJG/ÒP\UV·VVGI-QRHTOKV.QTDGGTMTCP\4WPFUEJKNF\YKUEJGP \YGK.QTDGGTD·WOGPCWHFGO5EJKNF%.8FCTWO5234$/%XCT%QJ4+%w  #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



&GT CWH FKGUGT /ÒP\G FCTIGUVGNNVG ENKRGWU XKTVWVKU YWTFG #WIWUVWU KO ,CJT  X %JT XGTNKGJGP &KGUGT 5EJKNF   FGTCWEJKPFGPTGUIGUVCG 8+ GTY·JPVYKTFYWTFGKPFGT%WTKC+WNKCCWHIGUVGNNV

140


1188

1190

1189

1191



Õ%KUVQRJQT  X %JT 'RJGUWU  I -QRH T4WPFVGORGN FGU /CTU 7NVQT FCTKP 5VCP   FCTVG42% 2TÒHRWP\GCWHFGO4GXGTUUEJÌPUGJTUEJÌP





Õ&GPCT  X %JT %QNQPKC %CGUCTCWIWUVC !   I -QRH T OKV .QTDGGTMTCP\#EJV\CEMK   IGT5VGTP$/%%QJ4+%wC -PCRRGT5EJTÌVNKPIUGJTUEJÌP





Õ&GPCTWOX%JT4QO22GVTQPKWU6WTRKNKCPWUI-QRHT6CTRGKCOKVGTJQDGPGP*·P FGPXXJCNDXQP5EJKNFGPDGITCDGP$/%%QJ4+%w  .GKEJVFG\GPVTKGTV2T·IGUEJY·EJGCO4CPFIWVGUUGJTUEJÌP



Õ&GPCT  X %JT 4QO 2 2GVTQPKWU 6WTRKNKCPWU  I (GTQPKCDÒUVG T-PKGPFGT 2CTVJGT T   RT·UGPVKGTV5VCPFCTVG$/%%QJ4+%w #VVTCMVKXGU'ZGORNCTUGJTUEJÌPpXQT\ÒINKEJ





&KGXQP%TCUUWUX%JTCPFKG2CTVJGTXGTNQTGPGP(GNF\GKEJGPJCDGPFKG4ÌOGTX%JTCWHFKRNQOCVKUEJGO 9GIG \WTÒEMIGYKPPGP MÌPPGP /KV FGO KJO GKIGPGP TQDWUVGP 5GNDUVDGYW­VUGKP UVGNNVG #WIWUVWU FKGU KP UGKPGO   6CVGPDGTKEJV   UQ FCT &KG 2CTVJGT JCDG KEJ IG\YWPIGP FKG $GWVG WPF (GNF\GKEJGP FTGKGT TÌOKUEJGT *GGTG   \WTÒEM\WIGDGPWPFFKG(TGWPFUEJCHVFGU4ÌOKUEJGP8QNMGU\WGTHNGJGP

1192 Æ



“5GUVGT\X%JT4QO63WKPEVKWU%TKURKPWU5WNRKEKCPWUI'KEJGPMTCP\\YKUEJGP\YGK .QTDGGT\YGKIGP5%$/%%QJXGTIN4+%w 4)TÒPG2CVKPCUGJTUEJÌP

1,5:1





1193 1,5:1

Õ&GPCTX%JTWPDGUVKOOVG/ÒP\UV·VVG %[\KEWU! I-QRHTKO'KEJGPMTCP\-CPFGNC DGTKPGKPGOOKV\YGK2CVGTCGWPF\YGK$WETCPKCIGUEJOÒEMVGP-TCP\$/%%QJ )CKWU%CGUCT  4+%w 44#WUIG\GKEJPGVGU2QTVT·VUGJTCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT



'U YKTF IGNGIGPVNKEJ CWEJ JGWVG PQEJ FKG #WHHCUUWPI %QJGPU XGTVTGVGP FCU 2QTVT·V FGT 8QTFGTUGKVG UVGNNG FGP   'PMGN FGU #WIWUVWU )CKWU %CGUCT FCT QDYQJN FKGUG &GWVWPI UQYQJN KO $/% CNU CWEJ KO %$0 CNU CWEJ KO   4+%w N·PIUV YKFGTNGIV KUV &CU 2QTVT·V FGT 8QTFGTUGKVG KUV UKEJGT LWIGPFNKEJ GKP FTGKL·JTKIGT -PCDG )CKWU %CGUCT   YWTFGKO#WIWUVQFGT5GRVGODGTX%JTIGDQTGP KUVCDGTDGUVKOOVPKEJVFCTIGUVGNNV&CU5VÒEMHGKGTVFKGNWFK UCGEWNCTGU FKG KP FGT 0CEJV \WO  ,WPK  X%JTGTÌHHPGVYWTFGPWPFFTGK6CIGWPFFTGK0·EJVGFCWGTVGPFGT -CPFGNCDGTDG\KGJVUKEJUKEJGTCWHFKGP·EJVNKEJGP(GKGTPFGT-TCP\OKVFGP2CVGTCGWPF$WETCPKCURKGNVOÌINKEJGT YGKUGCWHFKG(GKGTPCO6CIGCPFGPP4KPFGTYWTFGPXQP#WIWUVWUWPF#ITKRRCPWTCOWPF,WPKVCIUÒDGT IGQRHGTV XGTIN 5WVJGTNCPF 6JG FCVG CPF VJG UKIPKHKECPEG QH VJG ECPFGNCDTWO EQKPU QH #WIWUVWU KP %NCUUKECN   4GXKGY5HH 

141


1194

1195 Æ

1,5:1



1,5:1

Õ&GPCTX%JT.WIFWPWOI-QRHTOKV.QTDGGTMTCP\#RQNNQUVGJVTOKV.[TCWPF 2NGEVTWO ! $/%%QJ4+%wC 4(CUVXQT\ÒINKEJ



&GT4GXGTUHGKGTV#RQNNQPCNU5EJNCEJVGPJGNHGTXQP#EVKWO



“3WCFTCPUX%JT4QO.COKC5KNKWU#PPKWUI<YGK*·PFGJCNVGP%CFWEGWU5%$/% %QJ4+%w &WPMNG2CVKPCUGJTUEJÌP

1196 Å









1197 Å

Ô#WTGWUX%JT.WIFWPWOI-QRHTOKV.QTDGGTMTCP\)CKWUWPF.WEKWU%CGUCTGUUVG JGP X X OKV 5RGGTGP WPF 5EJKNFGP FCTÒDGT 5KORWNWO WPF .KVWWU $/%  %CNKEQ  %QJ    4+%w (CUVUGJTUEJÌP



Ô#WTGWUX%JT.WIFWPWOI-QRHTOKV.QTDGGTMTCP\)CKWUWPF.WEKWU%CGUCTGUUVG JGP X X OKV 5RGGTGP WPF 5EJKNFGP FCTÒDGT 5KORWNWO WPF .KVWWU $/%  %CNKEQ  %QJ    4+%w 2TÒHGKPJKGDCWHFGO#XGTUUEJÌP



Õ&GPCT  X %JT .WIFWPWO  I -QRH T OKV .QTDGGTMTCP\)CKWU WPF .WEKWU %CGUCTGU   UVGJGPXXOKV5RGGTGPWPF5EJKNFGPFCTÒDGT5KORWNWOWPF.KVWWU$/%%QJ4+%w &C\WGKPG&TCEJOG#NGZCPFGTU+++ 5VÒEM8QTFGTUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌP



&GT 6[R KUV PKEJV YKG KO 4+%w CPIGIGDGP  X P %JT \W FCVKGTGP FKGUG 5VÒEMG YWTFGP  X %JT IGRT·IV   YKG UKEJ CWU FGT 6CVUCEJG GTIKDV FC­ )CKWU %CGUCT KO ,CJT  P %JT FGP -QPUWNCV KPPGJCVVG WPF UQOKV PKEJV   OGJT FGUKIPKGTVGT -QPUWN YCT -GJPG <WT &CVKGTWPI FGT (WPFOÒP\GP CWU -CNMTKGUG KP 9KGIGNU 4CKPGT  

*TUI  &KG (WPFOÒP\GP XQP -CNMTKGUG WPF FKG HTÒJMCKUGT\GKVNKEJG /ÒP\RT·IWPI /ÌJPGUGG  5  H    5KGJG \WT &CVKGTWPI WPF \WT &GWVWPI FGU 4GXGTUGU CWEJ 9QNVGTU )CKWU WPF .WEKWU %CGUCTGU CNU FGUKIPKGTVG   -QPUWNPWPFRTKPEKRGUKWXGPVWVKU&KGNGZ8CNGTKC%QTPGNKCWPF4+%+wHHKP%JKTQP  5HH

1199 Æ

1200 Æ

1201 Æ



“U ,CJT     5KFQP 2JQGPKEKC   I 8KGTU·WNKIGT 6GORGN \YKUEJGP 5·WNGP'WTQRC CWH   5VKGTN42% 1NKXDTCWPG2CVKPCUGJTUEJÌP





“U2JKNKRRK /CEGFQPKC I-QRHT<YGK2TKGUVGTRHNÒIGPT42%  )TÒPG2CVKPCIWVGUUGJTUEJÌP



&KG <WUEJTGKDWPI CP 2JKNKRRK KUV PKEJV IGUKEJGTV FC FKG /ÒP\G MGKP 'VJPKMQP VT·IV &KG (WPFG OCEJGP FKGUG   <WYGKUWPICDGTYCJTUEJGKPNKEJ



WPF&KXWU,WNKWU%CGUCT“U,CJTFGT5KGIGU·TCXQP#EVKWO !X%JT 6JGUUCNQPKEC

/CEGFQPKC I-QRH%CGUCTUT-QRHT42% 4$TCWPG2CVKPCHCUVUGJTUEJÌP <WT&CVKGTWPIUKGJG6QWTCVUQINQW&KG/ÒP\UV·VVGXQP6JGUUCNQPKMKKPFGTTÌOKUEJGP-CKUGT\GKV$GTNKP5

142




1202



1203 Æ

1204 Æ

1205 Æ

1206 Æ

 HÒT &KXWU ,WNKWU %CGUCT Õ&GPCT  X %JT 4QO / 5CPSWKPKWU  I *GTQNF UVGJV N OKV   %CFWEGWUWPF4WPFUEJKNF-QRHFGUXGTIÌVVNKEJVGP%CGUCTTFCTÒDGT-QOGV$/%%QJXGTIN 4+%w 5GJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC



&GT -QOGV ÒDGT FGO -QRH %CGUCTU KUV FGT UKFWU ,WNKWU ªDGT FKGUGP -QOGVGP UEJTGKDV 2NKPKWU PCV ++   0WT   CP GKPGO GKP\KIGP 1TV FGT 'TFG P·ONKEJ KP 4QO YKTF GKP -QOGV KP GKPGO 6GORGN XGTGJTV YGKN KJP FGT &KXWU   #WIWUVWU CNU UGJT IÒPUVKIGU <GKEJGP HÒT UKEJ GTMN·TVG 'T VTCV P·ONKEJ \W $GIKPP UGKPGT 4GIKGTWPI KP 'TUEJGKPWPI   Y·JTGPF FGT 5RKGNG FKG GT \W 'JTGP FGT 8GPWU )GPGVTKZ MWT\ PCEJ FGO 6QFG UGKPGU 8CVGTU %CGUCT KP FGO PQEJ   XQPFKGUGOGKPIGUGV\VGP-QNNGIKWOCDJKGNV/KVHQNIGPFGP9QTVGP·W­GTVGGTFCTÒDGTUGKPG(TGWFG)GTCFGCPFGP 6CIGPOGKPGT5RKGNGYWTFGGKP*CCTUVGTPUKGDGP6CIGNCPICOPÌTFNKEJGP6GKNFGU*KOOGNUGTDNKEMVGTIKPIWOFKG GNHVG 6CIGUUVWPFG CWH YCT UGJT NGWEJVGPF WPF KP CNNGP .·PFGTP UKEJVDCT &CU 8QNM INCWDVG FWTEJ FKGUGP 5VGTP   YGTFG FKG #WHPCJOG FGT 5GGNG %CGUCTU WPVGT FKG WPUVGTDNKEJGP )ÌVVGT CPIG\GKIV WO FGUUGPVYKNNGP YWTFG FKGUGU   5VGTP\GKEJGP CO #DDKNF UGKPGU -QRHGU CPIGDTCEJV FCU UR·VGT CWH FGO (QTWO IGYGKJV YWTFG 5Q URTCEJ GT UKEJ   ÌHHGPVNKEJCWUKPUGKPGO+PPGTPCDGTYCTGTOKV(TGWFGÒDGT\GWIVFC­FGT5VGTPHÒTKJPCWHIGICPIGPUGKWPFFC­GT OKVKJOCWHIGJGWPF\YCTYGPPYKTFKG9CJTJGKVUCIGPYQNNGP\WO*GKNGFGT9GNV  &GT*GTQNFCWHFGO#XGTUXGTMÒPFGVFKG5CGEWNCTHGKGTPUKGJGFC\WCWEJ0T



 WPF #ITKRRC “#U  0GOCWUWU  I $GKFGT -ÌRHG PCEJ CW­GP DNKEMGPF-TQMQFKN CP   2CNOGIGMGVVGVT4+%w42% )TÒPG2CVKPCCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





WPF4JQKOGVCNMGU“UI-QRHFGU#WIWUVWUT-QRHFGU4JQKOGVCNMGUTOKV&KCFGO42% XGTIN )N·P\GPFGFWPMGNITÒPG2CVKPCUGJTUEJÌP



&KG#XGTUNGIGPFGFGU5VÒEMGUKUVXGTDCNNJQTPV



 OKV 4JQKOGVCNMGU WPF 2[VJQFQTKU XQP $QURQTWU “U  X P %JT  I -QRH FGU #W   IWUVWUT-ÌRHGFGU4JQKOGVCNMGUWPFFGT2[VJQFQTKUT42% )TÒPG2CVKPCIWVGUUGJTUEJÌP





“U  X P %JT  I -QRH FGU #WIWUVWU T-ÌRHG FGU 4JQKOGVCNMGU WPF FGT 2[VJQFQTKU T   42% &WPMGNITÒPG2CVKPCUGJTUEJÌP





“U  X P %JT  I -QRH FGU #WIWUVWU T-ÌRHG FGU 4JQKOGVCNMGUWPFFGT2[VJQFQTKUT 42% &WPMNG2CVKPCIWVGUUGJTUEJÌP





 OKV <GPQFQTQU XQP %JCNMKU “U   X %JT  %JCNMKU 5[TKC   I -QRH T-QRH N   42% )TÒPG2CVKPCUGJTUEJÌP



1208 Æ

1207 Æ

/CTEWU#PVQPKWUNKG­.[UCPKCUFGP8CVGTFGU<GPQFQTQUJKPTKEJVGP0CEJFGT5EJNCEJVXQP#EVKWOUGV\VG#WIWUVWU <GPQFQTQUCNU4GIGPVGPGKP

1,5:1



1209 Å

1,5:1

6KDGTKWUÔ#WTGWU.WIFWPWOI-QRHTOKV.QTDGGTMTCP\.KXKCCNU2CZUKV\VT OKV<YGKIWPF<GRVGT$/%%CNKEQ%QJ4+%w  5GNVGPKPFKGUGT'TJCNVWPI8QT\ÒINKEJGU'ZGORNCTOKVHGKPGT6ÌPWPI



/ÒP\UVGORGN FKGUGU 6[RU YWTFGP MÒT\NKEJ KO .GIKQPUNCIGT 8KPFQPKUUC 9KPFKUEJ KP ¤UVGTTGKEJ  GPVFGEMV 0CEJ   FGOCTEJ·QNQIKUEJGP$GHWPFKUVFCXQPCWU\WIGJGPFC­KP8KPFQPKUUCGKPGQHHK\KGNNG/ÒP\UV·VVGGZKUVKGTVJCV&KGUG UGPUCVKQPGNNG 'PVFGEMWPI UVGNNV XKGNG /ÒP\UV·VVGP\WYGKUWPIGP FGT HTÒJGP -CKUGT\GKV KP (TCIG FGPP GU KUV FCXQP   CWU\WIGJGPFC­CWEJKPCPFGTGP.GIKQPUNCIGTP/ÒP\UV·VVGPGZKUVKGTVJCDGP

143


1210 Å

1212

1211 Å

1,5:1

1,5:1



Ô#WTGWU.WIFWPWOI-QRHTOKV.QTDGGTMTCP\.KXKCCNU2CZUKV\VTOKV<YGKIWPF <GRVGT$/%%CNKEQ%QJ4+%w 5GJTCPURTGEJGPFGUHCUVXQT\ÒINKEJGU'ZGORNCT





Ô#WTGWU.WIFWPWOI-QRHTOKV.QTDGGTMTCP\.KXKCCNU2CZUKV\VTOKV<YGKIWPF <GRVGT$/%%CNKEQ%QJ4+%w  8QTFGTUGKVGNGKEJVFG\GPVTKGTVUGJTUEJÌPDKUXQT\ÒINKEJ



Õ&GPCT .WIFWPWO  I -QRH T OKV .QTDGGTMTCP\.KXKC CNU 2CZ UKV\V T $/%  %QJ    4+%w 5GJTUEJÌP





&GT5KNDGTNKPIFGT$KDGN 6TKDWVG2GPP[ 

1213

1214 Æ

1215 Æ



1215 Æ

Õ&GPCT.WIFWPWOI-QRHTOKV.QTDGGTMTCP\#XGTUKPEWUWO$/%XGTIN%QJXGTIN 4+%wXGTIN +PVGTGUUCPVG(GJNRT·IWPIUGJTUEJÌP



&KG8QTFGTUGKVGGKPGTJ·PIGPIGDNKGDGPGP/ÒP\GFKGPVGJKGTCNU4GXGTUUVGORGN#NU4ÒEMUGKVGPOQVKXYCTXGTOWVNKEJ FKGUKV\GPFG.KXKCXQTIGUGJGP



“U-QTKPVJ %QTKPVJKC &WWOXKTK.#TTKWU2GTGITKPWUWPF.(WTKWU.CDGQI8GTUEJNGK GTVG$ÒUVGFGT.KXKCCNU2KGVCUT5GEJUU·WNKIGT6GORGN42% &WPMNG2CVKPCUGJTUEJÌP



“5GUVGT\4QOI3WCFTKICT5%$/%%QJ4+%w  )TÒPDTCWPG2CVKPCOKPMQTTQFKGTVUGJTUEJÌPGU'ZGORNCT

 

&KGNGGTG3WCFTKICURKGNVXGTOWVNKEJCWHFCU8QTIGJGPFGU.8KVGNNKWUIGIGPFKG2CTVJGTCP

1,5:1

1216 Æ

1,5:1

1217 Æ



“6GUUGTC  I -QRH T OKV 5VTCJNGPDKPFG8++ KP 2GTNMTGKU $WVVTG[ 0%  2N   XGTIN    445GJTUEJÌP





“U&KQUJKGTQP #UKC I-QRHT-QRHFGU<GWUTOKV.QTDGGTMTCP\42%  4$TCWPG2CVKPCUGJTUEJÌP



&KG <WYGKUWPI \W 6KDGTKWU KUV CWH )TWPF FGU 2QTV·VU GTHQNIV XGTIN FKG 2T·IWPIGP FGU 6KDGTKWU XQP *[RCGRC   42%HH OÌINKEJY·TGCWEJFKG<WYGKUWPI\W#WIWUVWU

144


1,5:1



1,5:1

“U-QTKPVJ %QTKPVJKC I2GICUWUHNKGIVT&GNRJKPT42%

1,5:1



1218 Æ

1219 Å

$TCWPG2CVKPCUGJTUEJÌP

1,5:1

WPF&KXWU#WIWUVWUÔ#WTGWU4QOI-QRHFGU6KDGTKWUTOKV.QTDGGTMTCP\-QRHFGU #WIWUVWUTOKV.QTDGGTMTCP\FCTÒDGT5VGTP$/%%CNKEQ%QJ4+%w 445GJTUEJÌP

1222 Æ

1220 Æ





1221 Æ



HÒT&KXWU#WIWUVWU“#U4QOI-QRHNOKV5VTCJNGPDKPFG#NVCT$/%%QJ 4+%w $TCWPG2CVKPCJGTXQTTCIGPFGU2QTVT·VXQT\ÒINKEJ





“#U4QOI-QRHNOKV5VTCJNGPDKPFG)GHNÒIGNVGT$NKV\$/%%QJ4+%w &WPMGNITÒPG2CVKPCHGKPGT5VKNXQT\ÒINKEJ





HÒT&KXWU#WIWUVWUWPF.KXKC“U4QOWNC *KURCPKC I-QRHTOKV5VTCJNGPDKPFG-QRHN ÒDGT)NQDWUQDGP/QPFUKEJGN42% &WPMNG2CVKPCUEJÌP



1223 Æ

1224 Æ

1223 Æ



WPF.KXKC“U2CPQTOQU 5KEKNKC I-QRHT-QRHTOKV5EJNGKGT42%  1NKXITÒPG2CVKPCUEJÌP



 HÒT &TWUWU “5GUVGT\  4QO  I $ÒUVGP \YGKGT -KPFGT CWH (ÒNNJÌTPGTP FC\YKUEJGP   IGHNÒIGNVGT%CFWEGWU5%$/%%QJ &TWUWU 4+%w  )TÒPDTCWPG2CVKPCGVYCUMQTTQFKGTV(GNFGTNGKEJVIGIN·VVGVUQPUVUGJTUEJÌPGU'ZGORNCT





#WHFGO(ÒNNJQTPUKPFFKG$ÒUVGPFGTDGKFGP<YKNNKPIUUÌJPGFGU&TWUWUCWUFGT'JGOKVFGT·NVGTGP.KXKNNC6KDG TKWU)GOGNNWUWPFFGTPCEJUGKPGODGTÒJOVGP1PMGNDGPCPPVG)GTOCPKEWUFCTIGUVGNNV

145


1225 Æ

   

1227 Æ

1226 Æ

1228 Æ

“#U4QOI-QRHN5%$/%%QJ4+%w  5EJYCT\G2CVKPC4GXGTUOKPMQTTQFKGTVUGJTUEJÌP “#U4QOI-QRHN5%$/%%QJ4+%w )TÒPG2CVKPCUGJTUEJÌP OKV4JQKOGVCNMGU++XQP$QURQTWUWPFFGUUGP)GOCJNKP “UPCEJI-QRHT-ÌRHG FGU4JQKOGVCNMGUWPFUGKPGT)GOCJNKPT42% $TCWPG2CVKPCUGJTUEJÌP )CKWU %CNKIWNC  “#U  4QO  I -QRH N8GUVC UKV\V N OKV 2CVGTC WPF <GRVGT   $/%%QJ4+%w )TÒPDTCWPG2CVKPCUGJTUEJÌP

   

#WUGKPGT5VGNNGCWU5WGVQP .:H IGJVJGTXQTYCTWO $TQP\G /ÒP\GPFGU)CKWU%CNKIWNCUQUGNVGPUKPF+O ,CJTDGUEJNQ­FGT5GPCVCNNG$TQP\GOÒP\GPFGU)CKWUGKP\WUEJOGN\GP9KG5WGVQPYGKVGTDGTKEJVGVYWTFGCWUFGO 5EJOGN\IWVCWH8GTCPNCUUWPIFGT/GUUCNKPCGKPG5VCVWGHÒTKJTGP)GNKGDVGPFGP5EJCWURKGNGT/PGUVGTCPIGHGTVKIV

1230 Æ

1229 Æ

1231



“3WCFTCPU  4QO  I2KNGWU4%% TGOKUUCFWEGPVGUKOC $/%%QJ4+%w  5GJTUEJÌP &KG/ÒP\GHGKGTVFKG#DUEJCHHWPIGKPGTRTQ\GPVKIGP8GTMCWHUUVGWGT





“3WCFTCPU  4QO  I2KNGWU4%% TGOKUUCFWEGPVGUKOC $/%%QJ4+%w  5GJTUEJÌP





 WPF &KXWU #WIWUVWU Õ&GPCT  .WIFWPWO  I -QRH T-QRH T OKV 5VTCJNGPDKPFG \YK   UEJGP\YGK5VGTPGP$/%5#PO%QJ4+%w 44(CUVUGJTUEJÌPUGJTUEJÌP 

1232 Æ



1233 Æ

1234 Æ

HÒT#ITKRRC“#U4QOI-QRHNOKV4QUVTCNMTQPG0GRVWPUVGJVNOKV&GNRJKPWPF&TGK \CEM$/% 6KDGTKWU %QJ #ITKRRC 4+%w  )TÒPG2CVKPCJGTXQTTCIGPGU2QTVT·VUGJTUEJÌPpXQT\ÒINKEJ





“#U 4QO  I -QRH N OKV 4QUVTCNMTQPG0GRVWP UVGJV N OKV &GNRJKP WPF &TGK\CEM $/%    6KDGTKWU %QJ #ITKRRC 4+%w )TÒPG2CVKPCXQT\ÒINKEJGU'ZGORNCT





“#U4QOI-QRHNOKV4QUVTCNMTQPG0GRVWPUVGJVNOKV&GNRJKPWPF&TGK\CEM$/% 6K DGTKWU %QJ #ITKRRC 4+%w &WPMGNITÒPG2CVKPCMN-TCV\GTCWHFGO4GXGTUHCUVXQT\ÒINKEJ



146


1235 Æ

1236 Æ



HÒT#ITKRRKPCOCVGT“5GUVGT\4QOI&TCRKGTVG$ÒUVGT%CTRGPVWON$/% %QJ4+%w 4&WPMGNITÒPG2CVKPCUGJTUEJÌP 



“5GUVGT\4QOI&TCRKGTVG$ÒUVGT%CTRGPVWON$/%%QJ4+%w  45EJYCT\G2CVKPCUGJTUEJÌP



#ITKRRKPCFKG)GOCJNKPFGU)GTOCPKEWUYWTFGP%JTXGTDCPPVWPFOCEJVGKJTGO.GDGPP%JTKO#NVGT XQP  ,CJTGP GKP 'PFG 5KG JCVVG PGWP -KPFGT \WT 9GNV IGDTCEJV %CNKIWNC GKPGT KJTGT 5ÌJPG NKG­ FCU 5VÒEM \WT   'TKPPGTWPI CP UGKPG /WVVGT RT·IGP WPF XGTYGKUV OKV FGO 4GXGTU CWH FKG UGNVGPG XQO 5GPCV DGUEJNQUUGPG 'JTWPI   FC­UKGCNU(TCWRGT/CWNVKGTYCIGPKP4QOHCJTGPFWTHVG XGTIN5WGVQP%NCWFKWUWPF 

1239

1237 Æ

1238 Æ



HÒT)GTOCPKEWU“#U4QOI-QRHN5%$/%%QJ )GTOCPKEWU 4+%w &WPMNG2CVKPC4GXGTUMQTTQFKGTVUGJTUEJÌP





“#U4QOI-QRHN5%$/%%QJ )GTOCPKEWU 4+%w  &WPMNG2CVKPCMN1Z[FHNGEMGUGJTUEJÌP





%NCWFKWUÕ&GPCTKVCNKUEJG/ÒP\UV·VVG ! I-QRHTOKV'KEJGPMTCP\+P'KEJGP MTCP\ ': 5%1$ %+8'55'48#615 $/%  %QJ  XQP -CGPGN  6H   4+%w    *GTXQTTCIGPFGU2QTVT·VUGJTUEJÌPGU'ZGORNCT  &CU 5VÒEM KUV OÌINKEJGTYGKUG FCU 2TQFWMV GKPGT \WT ªDGTRT·IWPI XQP /ÒP\GP FGU %CNKIWNC GKPIGTKEJVGVGP   KVCNKUEJGP/ÒP\UV·VVG WPRWDNK\KGTVG'PVFGEMWPIXQP%%NC[ 

1241 Æ

1240 Æ



“5GUVGT\4QOI-QRHTOKV.QTDGGTMTCP\':5%1$%+8'55'48#615KP-TCP\ $/%%QJ4+%w 8QTFGTUGKVGNGKEJVIGIN·VVGVUGJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ T TGEJVGEMKIGT )GIGPUVGORGN 241$   5RGUIGJVN$/%%QJ4+%w)GIGPUVGORGN5NI2CPIGTN  5EJÌP)GIGPUVGORGNUGJTUEJÌP



1242 Æ

1243 Æ



“3WCFTCPU4QOI/QFKWU5%$/%%QJ4+%w  &WPMGNITÒPG2CVKPCUGJTUEJÌP





“3WCFTCPU4QOI/QFKWU5%$/%%QJ4+%w  &WPMNG2CVKPCMPCRRGT5EJTÌVNKPIUGJTUEJÌP

 147


1,5:1



1244

1,5:1

Õ&GPCTPCEJ4QOI-QRHTOKV.QTDGGTMTCP\2CZ0GOGUKUIGJVTOKV%CFWEGWUFCXQT 5EJNCPIG$/%XGTIN%QJXGTIN4+%wXGTIN  45WDCGTCV ! MN-TCV\GTUGJTUEJÌPpXQT\ÒINKEJ



&C FGT &GPCT CP FGT GPVUEJGKFGPFGP 5VGNNG UEJYCEJ CWUIGRT·IV KUV MCPP OCP PKEJV OKV 5KEJGTJGKV NGUGP QD GU   642++++JGK­VQFGTOÌINKEJGTYGKUG642+++

1245

 

1245

1246 Æ

Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\2CZ0GOGUKU IGJV T OKV %CFWEGWU FCXQT   5EJNCPIG$/%%QJ4+%w 4(CUVUGJTUEJÌP   HÒT #PVQPKC “&WRQPFKWU  4QO  I &TCRKGTVG $ÒUVG T%NCWFKWU UVGJV N OKV 5KO   RWNWO$/%%QJ4+%w 48QT\ÒINKEJ 

1247 Æ



HÒT#ITKRRKPCOCVGT“5GUVGT\4QOI&TCRKGTVG$ÒUVGT5%$/%%QJ 4+%w 4&WPMNG2CVKPC(GNFGTOKPIGIN·VVGVIWVGUUGJTUEJÌP  #ITKRRKPC OCVGT YCT FKG 6QEJVGT FGU #ITKRRC WPF FGT ,WNKC FGT 6QEJVGT FGU #WIWUVWU 5KG JGKTCVGVG )GTOCPKEWU   0CEJ FGO 6QFG KJTGU /CPPGU YWTFG UKG XQP 6KDGTKWU PCEJ 2CPFCVGTKC XGTDCPPV YQ UKG CO  1MVQDGT    XGTJWPIGTVUGKPUQNN

1,5:1



1248 Å

1,5:1

WPF#ITKRRKPCHKNKCÔ#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\&TCRKGTVG$ÒUVGT OKVJTGPMTCP\$/%%CNKEQH%QJ4+%w 5GJTUEJÌP  &KG LÒPIGTG #ITKRRKPC 6QEJVGT FGU )GTOCPKEWU YWTFG KP 1RRKFWO 7DKQTWO IGDQTGP &CJGT NKG­ UKG FKG 5VCFV   KO,CJT\WT%QNQPKC%NCWFKC#TC#ITKRRKPGPUKWOGTJGDGP

1249 Æ



1250 Æ

 WPF $TKVCPPKEWU “U  6JGUUCNQPKEC /CEGFQPKC   I -QRH N+P -TCP\ &TCRKGTVG   $ÒUVGN42% 4&WPMNG2CVKPCHCUVUGJTUEJÌP



$TKVCPPKEWUFGT5QJPFGU%NCWFKWUWPFFGT/GUUCNKPCYWTFGXQP0GTQGTOQTFGV

 148

 WPF /GUUCNKPC “U XQT  -PQUUQU %TGVC  &WWOXKTK %CRKVQ WPF %[VJGTWU  I -QRH N   &TCRKGTVG$ÒUVGT42% 445GJTUEJÌP




1252 Æ

1251 Æ

1255 Æ

1254 Å

1,5:1



0GTQ“U#MOQPGKC 2JT[IKC #TEJQP.5GTXGPKWU%CRKVQI&TCRKGTVG$ÒUVGT<GWU UKV\VNOKV2CVGTCWPF<GRVGTFCXQT*CNDOQPFWPF'WNG42% 5GJTUEJÌP





“UWO5KFG 2CORJ[NKC I&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\#VJGPCIGJVNOKV5RGGT )TCPCVCRHGNWPF5EJKNFFCXQT5EJNCPIG42%  $TCWPG2CVKPCOKVITÒPGP8GTMTWUVWPIGPXQT\ÒINKEJ



Õ*GOKFTCEJOG ! %CGUCTGC %CRRCFQEKC I-QRHTOKV.QTDGGTMTCP\8KEVQTKCIGJVT OKV.QTDGGTMTCP\42%5[FGPJCO&C\W\YGK“2T·IWPIGPFKGUGT5VCFV %NCWFKWU)QTFKCPWU+++  UQYKGGKPG“2T·IWPIFGU0GTQCWU'KMQPKQP 5VÒEM5GJTUEJÌP







Ô#WTGWU  4QO  I -QRH T+P 'KEJGPMTCP\ ': 5% $/%  %CNKEQ  %QJ    4+%w 5GJTUEJÌP 



“UWO5CTFGKU .[FKC 5VTCVGIQU/KPFKQUI-QRHTOKV.QTDGGTMTCP\&KQP[UQUUVGJVNOKV -CPVJCTQUWPF6J[TUQU42% &WPMGNITÒPG2CVKPCUGJTUEJÌP



1257 Å

1256 Å

1,5:1

1,5:1



Õ&GPCT4QOI-QRHT+P'KEJGPMTCP\':5%$/%%QJ4+%w  5GJTUEJÌP



Ô#WTGWU4QOI-QRHT8KTVWUUVGJVTOKV2CTC\QPKWOWPF5RGGT(W­CWH9CHHGP $/%%CNKEQ%QJ4+%w 5GJTCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT 

1258 Æ



1259 B



1258 Æ

“5GOKU WO  4QO  I -QRH T OKV .QTDGGTMTCP\7TPG WPF -TCP\ CWH 6KUEJ $/%    %QJ4+%w )TÒPG2CVKPCIWVGUUGJTUEJÌP



&GT 4GXGTU DG\KGJV UKEJ CWH FKG XQP 0GTQ KO ,CJTG  IGITÒPFGVGP 0GTQPKC UKGJG 5WGVQP 0GTQ  'T XGTCP   UVCNVGVGCWEJCNUGTUVGTXQPCNNGPKP4QOGKPGP9GVVMCORHFGTCNNGHÒPH,CJTGUVCVVHCPFWPFYKGDGKFGP)TKGEJGPCWU FTGK &KU\KRNKPGP DGUVCPF GKPGT OWUKUEJGP GKPGT CVJNGVKUEJGP WPF GKPGT &KU\KRNKP \W 2HGTFG &KGUGT 9GVVMCORH   GTJKGNVFGP0COGP0GTQPKC



$6GVTCFTCEJOG,CJT  #NGZCPFTKC #GI[RVWU I-QRHTOKV5VTCJNGPDKPFG&TC RKGTVG$ÒUVGFGU5CTCRKUTOKV-CNCVJQU&CVVCTK)GKUUGP42% 5GJTUEJÌP

 149


1260 Å 1,5:1



1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\0GTQUVGJVXXOKV5VTCJNGPDKPFG<YGKI WPF8KEVQTKCCWH)NQDWU$/%%CNKEQ%QJ4+%w 45GJTUEJÌP

1261



1263

1262 Æ



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\,WRKVGTUKV\VNOKV$NKV\WPF<GRVGT$/% %QJ4+%w 5GJTUEJÌP





“#U4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCHNKGIVNOKV5EJKNFCWHFGO5234$/% %QJ4+%w $TCWPG2CVKPCHCUVUGJTUEJÌP



/ÌINKEJGTYGKUGDG\KGJVUKEJFKG4ÒEMUGKVGCWHFGPCTOGPKUEJGP(GNF\WI



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\5CNWUUKV\VNOKV2CVGTC$/%%QJ 4+%w 5GJTUEJÌP

1264 Å

1,5:1





1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\5CNWUUKV\VNOKV2CVGTC$/%%CNKEQ %QJ4+%w 5GJTUEJÌP



5CNWU FGTGP -WNV KP 4QO PCEJ FGO 5COPKVGPMTKGI 'PFG FGU XKGTVGP ,CJTJWPFGTVU X %JT GKPIGHÒJTV YQTFGP YCT   JCVVG KP FGT HTÒJGP -CKUGT\GKV XGTUEJKGFGPG $GFGWVWPIGP 7PVGT #WIWUVWU YWTFG FKG 5CNWU RWDNKEC FWTEJ FKG   MQPMTGVGP 6CVGP FGU *GTTUEJGTU ICTCPVKGTV WPVGT 6KDGTKWU FWTEJ FCU #OV FGU -CKUGTU WPVGT 0GTQ UEJNKG­NKEJ YCT   FKG 5CNWU RWDNKEC OKV FGT 5CNWU #WIWUVK KFGPVKUEJ 5KGJG CWEJ 9KPMNGT .QTGP\ 5CNWU 8QO 5VCCVUMWNV \WT   RQNKVKUEJGP+FGG'KPGCTEJ·QNQIKUEJG7PVGTUWEJWPI*GKFGNDGTI

1265 Å

1266 Æ 1,5:1



1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\+822+6'4%85615,WRKVGTUKV\VNOKV$NKV\ WPF<GRVGT$/%%CNKEQ%QJ4+%w #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



&GO +WRRKVGT %WUVQU YCT 0GTQ PCEJ FGT 'PVFGEMWPI FGT 8GTUEJYÌTWPI FGU 2KUQ KO #RTKN  6CEKVWU #PP :8   HH DGUQPFGTUXGTDWPFGP

 150

“U#PVKQEJKC 5[TKC I-QRHTOKV.QTDGGTMTCP\FCXQT5KORWNWO+P-TCP\5%42% $TCWPG2CVKPCUGJTUEJÌP




1268

1267 Æ

1267 Æ



“U#PVKQEJKC 5[TKC I-QRHTOKV.QTDGGTMTCP\FCXQT.KVWWU+P-TCP\5%42%  $TCWPG2CVKPCHCUVUGJTUEJÌP



 WPF #ITKRRKPC HKNKC Õ&GPCT  4QO  I $GKFGT $ÒUVGP T&KXWU %NCWFKWU WPF &KXWU   #WIWUVWUKP'NGHCPVGPSWCFTKICN$/%%QJ4+%w 5GJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC 



&KG'NGHCPVGPSWCFTKICGTUEJGKPVCWHLWNKUEJENCWFKUEJGP2T·IWPIGPUVGVUPWTOKVCWUFTÒEMNKEJGO$G\WICWH#WIWUVWU

1269 Å

1,5:1



1,5:1

)CNDCÔ#WTGWU4QO ! I-QRHNOKV.QTDGGTMTCP\WPVGP)NQDWU.KXKCUVGJVNOKV 2CVGTCWPF<GRVGT$/%%CNKEQ%QJ4+%w 44-TCV\GTCWHFGO#XGTUUGJTUEJÌP

1270 Å

1272

1271





1271

Ô#WTGWU 4QO  I -QRH T OKV .QTDGGTMTCP\5#.85 )'0*8/#0+ (QTVWPC !  UVGJV N OKV   2CVGTCWPF5VGWGTTWFGTFCXQT#NVCT$/%%CNKEQ%QJ4+%w 5EJÌPDKUUGJTUEJÌP  5CNWU IGPGTKU JWOCPK  FCU 9QJN FGT /GPUEJJGKV FKGU YCT FGT #PNC­ \WT 4GXQNVG IGIGP 0GTQ 9·JTGPF GKPGU   )GTKEJVUVCIGU KP 0GWMCTVJCIQ GTTGKEJVG )CNDC GKP $TKGH FGU 8KPFGZ FGU 2TQRTCGVQTU )CNNKGPU KP FGO FKGUGT KJP   CWHHQTFGTVGUKEJ\WO'TTGVVGTWPF(ÒJTGTFGT/GPUEJJGKV\WOCEJGP 5WGVQP)CNDC 



$6GVTCFTCEJOG,CJT  #NGZCPFTKC #GI[RVWU I-QRHTOKV.QTDGGTMTCP\&TCRKGTVG $ÒUVGFGT'KTGPGTOKV5EJNGKGTWPF1NKXGPMTCP\&CVVCTK)GKUUGP42% 5GJTUEJÌP





Õ&GPCTICNNKUEJG/ÒP\UV·VVGI-CKUGTTGKVGVTOKV.CP\G4QOCIGJVTOKV8KEVQTKCCWH )NQDWUWPF.CP\G$/%%QJ4+%w 5EJÌP



1273 Æ

1273 Æ 1,5:1



“5GUVGT\  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\.KDGTVCU UVGJV N OKV 2KNGWU WPF   <GRVGT$/%%QJ4+%w $TCWPG2CVKPCOKPMQTTQFKGTVUGJTUEJÌP  'ZGORNCTFGT#WMVKQP/ÒP\GPWPF/GFCKNNGP#)$CUGN0T

151


1275

1274 Æ

1276



“U  -QTKPVJ %QTKPVJKC  &WWOXKT . %CPKPKWU #ITKRRC  I -QRH T<YGK *·PFG JCNVGP   JTGPWPF/QJPMWIGN42% &WPMNG2CVKPCUGJTUEJÌP



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\.KXKCUVGJVNOKV2CVGTCWPF<GRVGT$/%%QJ 4+%w 5GJTUEJÌP





Õ&GPCT4QOI-QRHT52341$%5KP-TCP\$/%%QJ4+%w



1277

5GJTUEJÌP



1278

1,5:1

1,5:1



1VJQÕ&GPCT4QOI-QRHT5GEWTKVCUUVGJVNOKV-TCP\WPF<GRVGT$/%%QJ 4+%w 2TCEJVGZGORNCTXQT\ÒINKEJ





Õ&GPCT4QOI+/216*1%#'5#4#8)642-QRHT2CZUVGJVNOKV<YGKIWPF%CFW EGWU$/%%QJ4+%wXGTIN #WTGWU  5GJTUGNVGPG8CTKCPVG5GJTUEJÌP



1280 Å

1279

1,5:1





1,5:1

1,5:1

8KVGNNKWUÕ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\.KDGTVCUUVGJVTOKV2KNGWUWPF<GR VGT$/%%QJ4+%w  4DGUQPFGTUKPFKGUGT'TJCNVWPI8QT\ÒINKEJGU'ZGORNCTOKVCWUFTWEMUXQNNGO2QTVT·V



Ô#WTGWU 4QO  I -QRH T OKV .QTDGGTMTCP\. 8KVGNNKWU UKV\V N OKV <YGKI WPF #FNGT\GRVGT   $/%XGTIN%CNKEQ%QJ4+%w 44(CUVUGJTUEJÌP  .8KVGNNKWUFGT8CVGTFGU8KVGNNKWUJCVVGDGUQPFGTUWPVGT%NCWFKWUFGUUGP(TGWPFWPF$GTCVGTGTYCT-CTTKGTGIG OCEJV'TYCTDGTGKVUKO,CJTGIGUVQTDGP

1281

1282 1283 Æ



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\%QPEQTFKCUKV\VNOKV2CVGTCWPF(ÒNNJQTP$/% %QJ4+%w 8QT\ÒINKEJ





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\&TGKHW­FCTCWH&GNRJKPFCTWPVGT4CDG$/% %QJ4+%w 5GJTUEJÌP





“&WRQPFKWU4QOI&TCRKGTVG$ÒUVGT%QPEQTFKCUKV\VNOKV2CVGTCWPF(ÒNNJQTP$/% %QJ4+%w $TCWPG2CVKPCMN5EJTÌVNKPIUHGJNGTUGJTUEJÌPpXQT\ÒINKEJ



152


1284 Å

1285 Å

1,5:1

1286

1,5:1



8GURCUKCPWUÔ#WTGWU.WIFWPWOI-QRHTOKV.QTDGGTMTCP\(QTVWPCUVGJVN OKV(ÒNNJQTPFCXQT2TQTC$/%%CNKEQ%QJ4+% )GNQEJVUEJÌP



Ô#WTGWU  6CTTCEQ  I -QRH T OKV .QTDGGTMTCP\6TCWGTPFG ,WFCGC UKV\V T FCJKPVGT   6TQRJ·G$/%%CNKEQ%QJ4+% 44(CUVUGJTUEJÌP 



8GURCUKCP DGHCPF UKEJ KP #NGZCPFTKC CNU GT \WO -CKUGT CWUIGTWHGP YWTFG 'T YCT 1DGTMQOOCPFKGTGPFGT KO LÒFK   UEJGP-TKGIFGPUGKP5QJP6KVWUUKGITGKEJ\W'PFGHÒJTVG



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\6TCWGTPFG,WFCGCUKV\VTFCJKPVGT6TQRJ·G $/%%QJ4+% /CTMCPVGU2QTVT·VMPCRRGT5EJTÌVNKPIUGJTUEJÌP

1287 Å



1289

1288

1,5:1

1,5:1



Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC UVGJV T CWH )NQDWU OKV -TCP\   WPF2CNO\YGKI$/%%CNKEQ%QJXGTIN4+% 5EJÌPpUGJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\8GUVC UKV\V N OKV 5KORWNWO $/%    %QJ4+% 7PTGIGNO·­KIGT5EJTÌVNKPIHCUVXQT\ÒINKEJ





Õ&GPCT'RJGUWUI-QRHTOKV.QTDGGTMTCP\8KEVQTKCIGJVTOKV-TCP\WPF2CNO\YGKI $/%%QJ4+% 48QT\ÒINKEJGU2TCEJVGZGORNCT



1290

1291 Æ

1292

1293

1291 Æ



Õ&GPCT  'RJGUWU  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC IGJV T OKV -TCP\ WPF 2CNO   \YGKI$/%%QJ4+% .GKEJVFG\GPVTKGTVYKP\-TCV\GTIWVGUUGJTUEJÌP





“#U4QOI-QRHTOKV.QTDGGTMTCP\<YGK*·PFGJCNVGPJTGPWPF%CFWEGWU$/%5 #PO%QJ )$ 4+% )TÒPDTCWPG2CVKPCUGJTUEJÌP





Õ&GPCT#PVKQEJKCI-QRHTOKV.QTDGGTMTCP\-CKUGTKP3WCFTKICTOKV<YGKIWPF<GR VGT$/%%QJ4+% 'VYCUMQTTQFKGTVUQPUVCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT





Õ&GPCT#PVKQEJKCI-QRHTOKV.QTDGGTMTCP\6TCWGTPFG,WFCGCUKV\VTWPVGT2CNOG FCJKPVGTUVGJV6KVWUTOKV5RGGTWPF2CTC\QPKWO(W­CWH*GNO$/%%QJ4+%  4#VVTCMVKXGU'ZGORNCTOKVHGKPGT6ÌPWPIUGJTUEJÌPpXQT\ÒINKEJ

 153


1294 Å

1,5:1

1295 1,5:1



Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC UVGJV T CWH )NQDWU OKV -TCP\   WPF2CNO\YGKI$/%%CNKEQ%QJ4+% 9KP\KIG-TCV\GTUGJTUEJÌP 



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC IGJV T OKV -TCP\ WPF 2CNO   \YGKIFCXQT6TQRJ·G$/%%QJXCT4+% 5GJTUEJÌP

1296 Æ



1298 Æ

1297 Æ



“#U4QOI-QRHTOKV.QTDGGTMTCP\#FNGTUVGJVCWH)NQDWUXX-QRHT$/% %QJ4+% 1NKXITÒPG2CVKPCUGJTUEJÌP





“&WRQPFKWU  4QO  I -QRH N OKV 5VTCJNGPDKPFG(GNKEKVCU UVGJV N OKV %CFWEGWU WPF   (ÒNNJQTP$/%%QJ4+%D )TÒPG2CVKPCHCUVXQT\ÒINKEJ





“&WRQPFKWU  4QO  I -QRH N OKV 5VTCJNGPDKPFG(GNKEKVCU UVGJV N OKV %CFWEGWU WPF   (ÒNNJQTP$/%%QJ4+% )TÒPG2CVKPCMN-QTTQUKQPUUVGNNGPUGJTUEJÌP



1299 Å

1,5:1



1,5:1

Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC UVGJV N CWH %KRRWU OKV -TCP\ WPF   2CNO\YGKINWPFTLGGKPGCWHIGTKEJVGVG5EJNCPIG$/%%CNKEQ%QJ4+%  -TCV\GTCWHFGO#XGTUHCUVXQT\ÒINKEJ 

1300

1301



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\8KEVQTKC UVGJV N CWH 2TQTC OKV -TCP\ WPF   2CNO\YGKI$/%%QJ4+% -N&TWEMUVGNNGCWHFGO#XGTUXQT\ÒINKEJ5VGORGNINCP\





Õ&GPCT  4QO  I-QRHTOKV.QTDGGTMTCP\2CZUKV\VNOKV<YGKI$/%%QJ 4+% (CUVXQT\ÒINKEJ



154


1302

1302



Õ6GVTCFTCEJOG,CJT  %[RTWUI-QRHNOKV.QTDGGTMTCP\FCTCWHQXCNGT)GIGP UVGORGN -QRH FGU #PVQPKPWU ++ /CTEWU #WTGNKWU OKV .QTDGGTMTCP\ N6GORGN FGT #RJTQFKVG XQP   2CRJQU42%6\KCODC\KU)GIGPUVGORGN*QYIGIQK 5GJTUEJÌP



5EJQP *QOGT RTKGU FGP ōJGKNKIGP $G\KTM WPF YGKJTCWEJFWHVGPFGP #NVCTŋ FGT #RJTQFKVG XQP 2CRJQU &KG #WUITC   DWPIGP FGU *GKNKIVWOU DGICPPGP  OKV GKPGT FTGKOQPCVKIGP )TCDWPIUMCORCIPG WPF YWTFGP  YKGFGT   CWHIGPQOOGP OW­VGP LGFQEJ  CWHITWPF FGT <[RGTPMTKUG CDIGDTQEJGP YGTFGP 5GKV  YWTFGP FKG #WUITC   DWPIGPWPVGTFGT.GKVWPIFGU&GWVUEJGP#TEJ·QNQIKUEJGP+PUVKVWVUHQTVIGUGV\V&GTHTÒJGUVG$CWKUVWOX%JT \W FCVKGTGP DKU KPU  ,CJTJWPFGTV X %JT GTHQNIVGP OGJTGTG 0GWDCWVGP FKG LGFQEJ CNNG GKPGT ITWPFNGIGPF PGWGP   TÌOKUEJGP-WNVUV·VVGYGKEJGPOW­VGPYGNEJGXGTOWVNKEJCWHWPUGTGO5VÒEMFCTIGUVGNNVKUV

1304 Æ

1,5:1

1,5:1



1305 Æ

1303 Å

Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\,WPIMWJ FGU /[TQP UVGJV T $/%    %CNKEQ%QJ4+% 5GJTUGNVGPKPFKGUGT'TJCNVWPI8QT\ÒINKEJpUVGORGNHTKUEJ  #WH FGT 4ÒEMUGKVG FGU 5VÒEMGU KUV FCU DGMCPPVGUVG -WPUVYGTM FGU /[TQP XQP 'NGWVJGTCK GKPGU 'T\IKG­GTU FGU    ,CJTJWPFGTVU X %JT FCTIGUVGNNV FKG ,WPIMWJ &KGUG JCV YKG YKT FWTEJ 2TQRGTVKWU YKUUGP #WIWUVWU PCEJ 4QO   IGDTCEJV 8GURCUKCPWU NKG­ UKG KO 6GORGN FGT 2CZ CWHUVGNNGP 5EJNKG­NKEJ IGNCPIVG FCU -WPUVYGTM PCEJ %QPUVCPVK   PQRQNKUYQUKEJUGKPG5RWTXGTNKGTV8GTINGKEJGFKG2CTCNNGNGOKUUKQPFGU6KVWU0T



“#U4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCUVGJVTCWH2TQTCOKV-TCP\WPF2CNO \YGKI$/%5#POGTMWPI%QJ4+% $TCWPITÒPG2CVKPCXQT\ÒINKEJ





“#U  4QO  I -QRH T OKV .QTDGGTMTCP\5RGU IGJV N OKV $NWOG $/%  %QJ    4+%C )TÒPDTCWPG2CVKPCGVYCU)TÒPURCPUGJTUEJÌP



1307 Æ

1306



Õ&GPCT4QOI-QRHNOKV.QTDGGTMTCP\/CTUUVGJVNOKV5RGGTWPF6TQRJ·G-QTP ·JTGT$/%XCT%QJ4+% 8QT\ÒINKEJ5VGORGNINCP\





“3WCFTCPU  4QO  I 4WFGT CWH )NQDWU)GHNÒIGNVGT %CFWEGWU $/%  #POGTMWPI   %QJ4+%XGTINFQTVCNU#UDGUEJTKGDGP 5GJTUEJÌP



1,5:1



1308 Å

1,5:1

Ô#WTGWU4QOI-QRHNOKV.QTDGGTMTCP\#PPQPCUKV\VNOKVJTGP$/%%CNKEQ %QJ4+% (CUVUGJTUEJÌP

 155


1309

1310

1311 Å

1,5:1

1,5:1



Õ*GOKFTCEJOG %CGUCTGC %CRRCFQEKC   I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\0KMG IGJV   TOKV-TCP\WPF2CNO\YGKI42%5[FGPJCO )WVGUUGJTUEJÌP





 WPF 6KVWU Õ&KFTCEJOG  %CGUCTGC %CRRCFQEKC   I $GKFGTUGKVU -QRH T OKV .QTDGGT   MTCP\42%5[FGPJCO 5EJÌPUGJTUEJÌP





HÒT6KVWUÔ#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCUVGJVTCWH)NQDWUOKV -TCP\WPF2CNO\YGKI$/%%CNKEQ%QJ4+% 5GJTUEJÌP



1312

1313 Æ

1314 Å

1,5:1

1,5:1



Õ&GPCTMNGKPCUKCVKUEJG/ÒP\UV·VVGI-QRHTOKV.QTDGGTMTCP\%10%14+# UKE #8) %QPEQTFKCUKV\VNOKVJTGP/QJPUVGPIGNWPF(ÒNNJQTPKO#DUEJPKVV5VGTP$/%%QJ4+%  445GJTUEJÌPpXQT\ÒINKEJ





“U,CJT  )CFCTC &GMCRQNKU I-QRHTOKV.QTDGGTMTCP\<YGKIGMTGW\VG(ÒNN JÌTPGT5RKLMGTOCP )TÒPG2CVKPCUGJTUEJÌP





Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\(QTVWPCUVGJVNCWH%KRRWUOKV4WFGTWPF(ÒNN JQTP$/%XCT%CNKEQ%QJGP4+%C 4'VYCU(WPFDGNCIUGJTUEJÌPGU'ZGORNCT



1,5:1



1,5:1

Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\%CRTKEQTP T OKV )NQDWU 5VGWGTTWFGT WPF   (ÒNNJQTP$/%5%CNKEQ%QJ4+% 4#VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 

1,5:1



1315 Å

1316 Å 1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\,WPIMWJFGU/[TQPUVGJVN$/%%CNKEQ %QJ4+% #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 'ZGORNCTFGT#WMVKQP0WOKUOCVKEC#TU%NCUUKEC0<ÒTKEJ0T  #WH FGT 4ÒEMUGKVG FGU 5VÒEMGU KUV FCU DGMCPPVGUVG -WPUVYGTM FGU /[TQP XQP 'NGWVJGTCK GKPGU 'T\IKG­GTU FGU    ,CJTJWPFGTVUX%JTFCTIGUVGNNVFKG,WPIMWJ&KGUGJCVYKGYKTFWTEJ2TQRGTVKWUYKUUGP#WIWUVWUPCEJ4QOIG DTCEJV 8GURCUKCPWU NKG­ UKG KO 6GORGN FGT 2CZ CWHUVGNNGP 5EJNKG­NKEJ IGNCPIVG FCU -WPUVYGTM PCEJ %QPUVCPVK   PQRQNKUYQUKEJUGKPG5RWTXGTNKGTV

156




1317

1318

1,5:1

1,5:1



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\3WCFTKICNFCTKPFTGKJTGP$/%%QJ 4+% 45GJTUEJÌP





HÒT&QOKVKCPWUÕ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\2GICUWUUVGJVT$/% %QJ4+% 5GJTUEJÌP



1319 Å

1,5:1



1320 Æ

1321

1,5:1

Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\2CTVJGT MPKGV T OKV TÌOKUEJGT 5VCPFCTVG   $/%%QJ4+% #VVTCMVKXGU'ZGORNCTIWVGUUGJTUEJÌP  &KG 4ÒEMUGKVGPFCTUVGNNWPI  GKP XQP #WIWUVWU ÒDGTPQOOGPGT 6[R  DG\KGJV UKEJ CWH GKP JÌEJUV DGOGTMGPUYGTVGU   'TGKIPKU GKPG )GUCPFVUEJCHV FGU 2CTVJGTMÌPKIU 8QNQICUGU DCV 8GURCUKCPWU CNUQ CWUIGTGEJPGV FGP TÌOKUEJGP   'TDHGKPFWOOKNKV·TKUEJG*KNHGIGIGPFKG#NCPGP&QOKVKCPWUDGOÒJVGUKEJWOFKGUGU-QOOCPFQ



“U ,CJT     )CDC ,WFCGC   I -QRH T OKV .QTDGGTMTCP\/GP UVGJV N OKV <GRVGT   42% 44)TÒPG2CVKPCUGJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK *·PFG JCNVGP .GIKQPUCFNGT CWH 2TQTC   $/%%QJ4+% 5GJTUEJÌPpXQT\ÒINKEJ



1322

1323

1324

1325 Æ

1325 Æ



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK *·PFG JCNVGP .GIKQPUCFNGT CWH 2TQTC   $/%%QJ4+% (CUVXQT\ÒINKEJXQT\ÒINKEJ





6KVWU  Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\8GPWU UVGJV T OKV *GNO WPF   <GRVGTCP5·WNGIGNGJPV$/%%QJ4+%  $TGKVGT5EJTÌVNKPICVVTCMVKXGUXQNN\GPVTKGTVGU'ZGORNCTIWVGUUGJTUEJÌP



'ZGORNCTFGT#WMVKQP)KGUUGPGT/ÒP\JCPFNWPI/ÒPEJGP0T



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\'NGHCPVN$/%%QJ4+%C  (CUVXQT\ÒINKEJ





“5GUVGT\  4QO  I -QRH N OKV .QTDGGTMTCP\(GNKEKVCU UVGJV N OKV (ÒNNJQTP WPF <GRVGT   $/%%QJ4+% &WPMGNITÒPG2CVKPCUGJTUEJÌP

 157


1328

1327

1326 Æ





1326 Æ

“5GUVGT\VJTCMKUEJG/ÒP\UV·VVGI-QRHTOKV.QTDGGTMTCP\2CZUVGJVNOKV<YGKIWPF (ÒNNJQTP$/%%QJXGTIN4+%42%  )TÒPG2CVKPCCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



 HÒT &KXWU 8GURCUKCPWU Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK %CRTK   EQTPGFCTÒDGT5EJKNFOKVFGT#WHUEJTKHV5%FCTWPVGT)NQDWU$/%%QJ4+%  $TGKVGT5EJTÌVNKPIXQT\ÒINKEJGU2TCEJVGZGORNCT



&KG4GXGTUFCTUVGNNWPIKUVXQPGKPGO\W'JTGPFGU&KXWU#WIWUVWUWPVGT6KDGTKWUIGRT·IVGP5GUVGT\GPÒDGTPQOOGP /ÌINKEJGTYGKUGYCTFGT%CRTKEQTPCWEJFCU5VGTPDKNFFGU8GURCUKCPWU  &KG 8QTUVGNNWPI UGKPGT -QPUGMTCVKQP FÒTHVG 8GURCUKCP COÒUCPV IGHWPFGP JCDGP 5Q UCIVG FGT -CKUGT FGT QJPGJKP   IGTPG 9KV\G TK­ NCWV 5WGVQP DGKO GTUVGP #PHCNN GKPGT -TCPMJGKV 8CG RWVQ FGWU HKQ 1 YGJ KEJ INCWDG KEJ   YGTFGGKP)QVV 



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK %CRTKEQTPG FCTÒDGT 5EJKNF OKV FGT   #WHUEJTKHV5%FCTWPVGT)NQDWU$/%%QJ4+%  8QT\ÒINKEJGU2TCEJVGZGORNCTOKVHGKPGT2CVKPC

1330 Æ

1329



1331



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK %CRTKEQTPG FCTÒDGT 5EJKNF OKV FGT   #WHUEJTKHV5%FCTWPVGT)NQDWU$/%%QJ4+%8QT\ÒINKEJGU'ZGORNCTOKVHGKPGT2CVKPC





WPF&QOKVKCPWU“U)GTOG .[FKC I-QRHFGU6KVWUTOKV.QTDGGTMTCP\FCXQT\YGKJTGP -QRHFGU&QOKVKCPWUTOKV.QTDGGTMTCP\42% &WPMGNITÒPG2CVKPCUGJTUEJÌP





HÒT,WNKC6KVKÕ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV&KCFGO8GPWUUVGJVTOKV*GNO WPF<GRVGTCP5·WNGIGNGJPV$/%%QJ4+%  (GKNURWTGPCO4CPFUGJTUEJÌPGU'ZGORNCTOKVHGKPGT2CVKPC



'ZGORNCTFGT5COONWPI$GP\#WMVKQP.CP\/ÒPEJGP0T

1,5:1



1332

1,5:1

Õ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV&KCFGO8GPWUUVGJVTOKV*GNOWPF<GRVGTCP 5·WNGIGNGJPV$/%%QJ4+% 8QT\ÒINKEJ

1333 Æ

1334



1333 Æ



“&WRQPFKWU4QOI&TCRKGTVG$ÒUVGT%GTGUUVGJVNOKVJTGPWPF(CEMGN$/%%QJ 4+% 4$TCWPG2CVKPCHCUVUGJTUEJÌP





&QOKVKCPWUÕ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\/KPGTXCUVGJVNOKV8KEVQTKC 5RGGTWPF5EJKNF$/%XGTIN%QJ4+%XGTIN )WVGUUGJTUEJÌP



158


1335 Å

1,5:1



1,5:1

Ô#WTGWU4QOI+/2%#'5&1/+6+#0#8))'4/#0+%85-QRHTOKV.QTDGGTMTCP\ /KPGTXCIGJVTOKV5RGGTWPF5EJKNF$/%%CNKEQ%QJ4+%  9QJN7PKMWO5GJTUEJÌPXQT\ÒINKEJ  &QOKVKCPWU HÒJTVG FGP 6KVGN )GTOCPKEWU UGKV UGKPGO 5KGI ÒDGT FKG %JCVVGP KO ,CJT  7PVGT &QOKVKCPWU YWTFGP   FKG NKPMUJGKPKUEJGP /KNKV·TDG\KTMG FKG DKU FCJKP FGP ICNNKUEJGP 2TQXKP\GP CFOKPKUVTCVKX \WIGQTFPGV YCTGP KP FKG   DGKFGPIGTOCPKUEJGP2TQXKP\GP)GTOCPKCUWRGTKQTWPF)GTOCPKCKPHGTKQTÒDGTHÒJTV

1337 Æ

1336 Æ

1338 Æ



“#U4QOI-QRHTOKV.QTDGGTMTCP\#NVCT$/%XCT%QJ4+%  )TÒPG2CVKPCUGJTUEJÌP





“U5GDCUVG 5COCTKC I-QRHTOKV.QTDGGTMTCP\*GNON$/%50)#05  &WPMNG2CVKPC5EJTÌVNKPIUHGJNGTUGJTUEJÌP





“5GUVGT\4QOI-QRHTOKV.QTDGGTMTCP\#GIKUN)'4/#0+#=%#26#?)GHCPIGPG )GTOCPKP UKV\V N IGHCPIGPGT )GTOCPG UVGJV T FC\YKUEJGP 6TQRJ·G $/%  %QJ  4+%  D     44$TCWPG2CVKPCUGJTUEJÌP



1339 Æ 1,5:1



“&WRQPFKWU4QOI-QRHTOKV5VTCJNGPDKPFG)GMTGW\VG5EJKNFG5RGGTGWPF6TQORGVGPXQT 8GZKNNWO$/%%QJ4+% $TCWPG2CVKPC2T·IGUEJY·EJGCO4CPFIWVGUUGJTUEJÌP

1340 Æ



1,5:1



1341 Æ

“#U4QOI-QRHTOKV.QTDGGTMTCP\-CKUGTQRHGTVNFCXQT*CTHGPWPF.[TCURKGNGT KO*KPVGTITWPFUGEJUU·WNKIGT6GORGN$/%%QJ4+%C 44)TÒPG2CVKPCUGJTUEJÌP



&CTIGUVGNNVKUVFKG$KVVGCP,WPQHÒTFKG/CVTQPGPFKGCO\YGKVGP6CIFGT5CGEWNCTHGKGTPUVCVVHCPFGP



“U ,CJT     (NCXKQRQNKU %KNKEKC   I -QRH T OKV .QTDGGTMTCP\6[EJG UKV\V T OKV   \YGK-QTP·JTGPFCXQT\WKJTGP(Ò­GP(NW­IQVV42% )TÒPG2CVKPCUGJTUEJÌP

 159


1343 Å



1344

1342 Æ

“U,CJT  (NCXKQRQNKU %KNKEKC I-QRHTOKV.QTDGGTMTCP\KO(GNFTTGEJVGEMKIGT )GIGPUVGORGN $GJGNOVGT -QRH FGT #VJGPG T6[EJG UKV\V T OKV \YGK -QTP·JTGP \W KJTGP (Ò­GP   (NWUUIQVV42%)GIGPUVGORGN*QYIGIQ )TÒPG2CVKPCUGJTUEJÌP





Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\)'4/#0+%85%15:8/KPGTXCUVGJVN OKV5RGGT$/%%CNKEQ%QJ4+% 8QT\ÒINKEJ 



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\/KPGTXC UVGJV N OKV $NKV\DÒPFGN WPF   5RGGTFCJKPVGT5EJKNF$/%%QJ4+% (CUVXQT\ÒINKEJ

1345 Æ

1347 Æ

1346 Æ



1348 Æ



“&WRQPFKWU  4QO  I -QRH T OKV .QTDGGTMTCP\8KTVWU UVGJV T OKV 5RGGT WPF 2CTC   \QPKWO$/%%QJ4+% $TCWPG2CVKPCUGJTUEJÌP





“#U4QOI-QRHTOKV.QTDGGTMTCP\(QTVWPCUVGJVNOKV5VGWGTTWFGTWPF(ÒNNJQTP $/%%QJ4+% )TÒPG2CVKPCUGJTUEJÌP





“#U  4QO  I -QRH T OKV .QTDGGTMTCP\8KTVWU UVGJV T OKV 5RGGT WPF 2CTC\QPKWO   $/%%QJ4+% $TCWPG2CVKPCUGJTUEJÌP





“#UUCTKC,CJT  'KTGPQRQNKU %KNKEKC I-QRHTOKV.QTDGGTMTCP\6[EJGUKV\V TFCXQT5VGTPWPVGPUEJYKOOGPFGT(NW­IQVV2[TCOQU-CTDCEJKP,D0WO5 42% 4$TCWPG2CVKPCIWVGUUGJTUEJÌP



'KTGPQRQNKU NCI KP 1UVMKNKMKGP ÌUVNKEJ XQP *KGTCRQNKU-CUVCDCNC <WT .QMCNKUKGTWPI FGT 5VCFV UKGJG -CTDCEJ KP   ,D0WO5HH

1350

1349 Æ

1350



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\,WRKVGT UKV\V N OKV 8KEVQTKC WPF <GRVGT   $/%%QJ4+% 5GJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\/KPGTXC UVGJV N OKV 5RGGT $/%    %QJ4+% *QJGU4GNKGHUGJTUEJÌP



160


1351

1351

1352 Æ



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\/KPGTXC UVGJV T CWH 2TQTC OKV 5RGGT WPF   5EJKNF$/%%QJ4+% (CUVXQT\ÒINKEJ





“5GUVGT\4QOI-QRHTOKV.QTDGGTMTCP\&QOKVKCPUVGJVNOKV$NKV\WPF5RGGTXQP 8KEVQTKCDGMT·P\V$/%%QJ4+% $TCWPG2CVKPCCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



1353 Æ

1354 Æ

1355 Æ

1357 Æ

1356 Æ



“5GOKU4QOI-QRHTOKV.QTDGGTMTCP\(ÒNNJQTP$/%%QJ4+%  &WPMGNITÒPG2CVKPCIWVGUUGJTUEJÌP





“3WCFTCPU4QOI4JKPQ\GTQUIGJVN1NKXGP\YGKI%QJ4+%$TCWPG2CVKPCUGJTUEJÌP





“3WCFTCPU4QOI&TCRKGTVG$ÒUVGFGT/KPGTXCTOKV*GNO'WNGUVGJVT%QJ4+%  *GNNITÒPG2CVKPCUGJTUEJÌP





“3WCFTCPU4QOI&TCRKGTVG$ÒUVGFGT/KPGTXCTOKV*GNO'WNGUVGJVN%QJ4+%  41NKXITÒPG2CVKPCUGJTUEJÌP





“3WCFTCPU4QOI)GHNÒIGNVGT2GVCUQU)GHNÒIGNVGT%CFWEGWU%QJ4+%  )TÒPG2CVKPCUGJTUEJÌP



1359 Æ

1358 Æ



“U-QKPQPXQP-TGVCI-QRHTOKV.QTDGGTMTCP\<GWUUVGJVNOKV2CVGTCWPF<GRVGTFCXQT #NVCT42% (CUVUGJTUEJÌP





“U -QTKPVJ %QTKPVJKC   I -QRH T OKV .QTDGGTMTCP\2QUGKFQP UVGJV N OKV &GNRJKP WPF &TGK   \CEM(W­CWH(GNUGP42% FKGU'ZGORNCTGTY·JPV  )TÒPG2CVKPCUGJTUEJÌP



'ZGORNCTFGT5COONWPI$%&#WMVKQP.CP\/ÒPEJGP0T

1,5:1

1360 Å

1,5:1

1361



0GTXC  Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\.KDGTVCU UVGJV N OKV 2KNGWU   WPF<GRVGT$/%#PO%QJ4+% #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT 



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\(QTVWPC UKV\V N OKV -QTP·JTGP WPF <GRVGT   $/%%QJ4+% (GKPIGVÌPVXQT\ÒINKEJ

 161


1362

1363 Æ



1364 Æ

Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\<YGK *·PFG JCNVGP .GIKQPUCFNGT CWH 2TQTC   $/%%QJ4+% 8QT\ÒINKEJ



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



“#U  4QO  I -QRH T OKV .QTDGGTMTCP\#GSWKVCU UVGJV N OKV 9CCIG WPF (ÒNNJQTP   $/%%QJ4+% )TÒPG2CVKPCXQT\ÒINKEJGU'ZGORNCT





“#U4QOI-QRHTOKV.QTDGGTMTCP\(QTVWPCUVGJVNOKV4WFGTWPF(ÒNNJQTP$/% %QJ4+% &WPMGNDTCWPG2CVKPCUGJTUEJÌP



1365

1366

1367 Æ



6TCKCPWUÕ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCUKV\VNOKV2CVGTC WPF2CNO\YGKI$/%%QJ4+% 5VGORGNHTKUEJGU2TCEJVGZGORNCTOKVHGKPGT6ÌPWPI



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\2CZ UVGJV N OKV <YGKI WPF (ÒNNJQTP   $/%%QJ4+% 5GJTUEJÌPpXQT\ÒINKEJ





“#U4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCIGJVNOKV5EJKNF$/%%QJ 4+% &WPMGNITÒPG2CVKPCUGJTUEJÌP



1368



1370

1369 Æ

1369 Æ



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV*GTEWNGU UVGJV X X OKV   -GWNGWPF.ÌYGPHGNN$/%XCT%QJXCT4+%XCT )WVGUUGJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV2CZ UKV\V N OKV <YGKI   WPF<GRVGT$/%#PO%QJ4+%XCT )TÒPG2CVKPCUGJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV#TCDKC UVGJV N OKV <YGKI   WPF<KOVUVCPIGPFCXQT-COGNN$/%%QJ4+% (CUVXQT\ÒINKEJ



1371 Æ



 162

1372 Æ

“5GUVGT\4QOI-QRHTOKV.QTDGGTMTCP\NFTCRKGTV6TCKCPTGKVGVTWPFUEJNGW FGTV5RGGTCWHIGUVÒT\VGP&CMGT$/%%QJ4+%  $TCWPG2CVKPCNGKEJVMQTTQFKGTVUGJTUEJÌP



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV&CEKC UKV\V VTCWGTPF N CWH   5EJKNFFCXQT6TQRJ·G$/%XCT%QJ4+% )TÒPG2CVKPCUGJTUEJÌP




1374

1373 Æ



1375 Æ

“#U4QOI-QRHTOKV.QTDGGTMTCP\NFTCRKGTV8KEVQTKCIGJVNOKV-TCP\WPF 2CNO\YGKI$/%XCT%QJXCT4+%XCT  $TCWPG2CVKPCCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV#GSWKVCU UVGJVNOKV9CCIG WPF(ÒNNJQTP$/%%QJ4+% 5GJTUEJÌPXQT\ÒINKEJ





“&WRQPFKWU4QOI-QRHTOKV5VTCJNGPDKPFG6TQRJ·G$/%%QJ4+% )TÒPG2CVKPC·W­GTUVCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT



1376 Æ

1377 Æ

1378



“U,CJT  .GWMCU 5[TKC I-QRHTOKV.QTDGGTMTCP\-CKUGTKP3WCFTKICT$/% 50)%QR 4&WPMGNITÒPG2CVKPCUGJTUEJÌP





“U,CJT  %CGUCTGC %CRRCFQEKC I6[EJGMQRHTOKV/CWGTMTQPG2[TCOKFGP HÌTOKIGT5VGKP5[FGPJCO 8QT\ÒINKEJ





Õ6GVTCFTCEJOG,CJT  6[TQUI-QRHTOKV.QTDGGTMTCP\FCTWPVGT-GWNGWPF#FNGT &TCRKGTVG$ÒUVGFGU/GNSCTVTOKV.QTDGGTMTCP\2TKGWT 5GJTUEJÌP



1379 Å

1,5:1

1,5:1



Ô#WTGWU4QOI&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\(TQPVCNCPUKEJVFGU(QTWO6TCK CPKOKVUGEJU5·WNGPFCTCWHUGEJUUR·PPKIGT9CIGP\YKUEJGP\YGK)TWRRGPOKVLGYGKNUFTGK2GTUQPGP $/%%CNKEQ%QJ4+% #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT  &CU(QTWO6TCKCPKYWTFGXQO#TEJKVGMVGP#RQNNQFQTQUXQP&COCUMQUIGRNCPVWPFCO,CPWCTGKPIGYGKJV

1380 Å

1,5:1



1,5:1

Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\8KC 6TCKCPC NCIGTV N OKV   4CFWPF<YGKI$/%%CNKEQ%QJ4+% 5GJTUEJÌP  &KG8KC6TCKCPCYCTGKPGXQP6TCKCPGTDCWVG5VTC­GXQP$GPGXGPVPCEJ$TWPFKUKWO

163


1381

1381

1382 Æ



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\NFTCRKGTV(GNKEKVCUUVGJVNOKV%CFWEGWU WPF(ÒNNJQTP$/%%QJXGTIN4+% 5GJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV(GNKEKVCU UVGJV N OKV   %CFWEGWUWPF(ÒNNJQTP$/%XGTIN%QJXGTIN4+% $TCWPG2CVKPCUGJTUEJÌP



1383 Å

1,5:1



1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\#GIKUN&TCRKGTVG$ÒUVGFGU5QNTOKV 5VTCJNGPDKPFG$/%%CNKEQF%QJ4+% 445GJTUEJÌP

1384 Å



1385



Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\&TCRKGTVG $ÒUVG FGU 5QN T   OKV5VTCJNGPDKPFG$/%%CNKEQC%QJ4+% 45GJTUEJÌP 



Õ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\(QTVWPCUKV\VNOKV5VGWGTTWFGT WPF(ÒNNJQTP$/%%QJ4+% )WVGUUGJTUEJÌP

1386 Æ



1387 Æ

1388 Æ



1389 Æ

“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ #GIKU N&CEKC UKV\V N OKV .GIKQPU   CFNGTFCXQTGKP-KPFOKV9GKPVTCWDGPWPFGKP-KPFOKVJTGP$/%XCT%QJ4+%  )TÒPG2CVKPC4GXGTUMQTTQFKGTVUGJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV(QTVWPC UKV\V N OKV   5VGWGTTWFGTWPF(ÒNNJQTP$/%%QJ4+% )TÒPG2CVKPCUGJTUEJÌP





“U,CJT  .CQFKEGKCCFOCTGI-QRHTOKV.QTDGGTMTCP\6[EJGMQRHTOKV /CWGTMTQPG$/%HH50)%QRXGTIN &WPMGNITÒPG2CVKPCUGJTUEJÌP





“5GUVGT\  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\(GNKEKVCU UVGJV N OKV %C   FWEGWUWPF(ÒNNJQTP$/%%QJ4+% )TÒPG2CVKPCXQT\ÒINKEJGU'ZGORNCT 

164


1391

1390 Æ



“&WRQPFKWU  4QO  I &TCRKGTVG $ÒUVG T OKV 5VTCJNGPDKPFG-CKUGT UVGJV T \YK   UEJGP\YGK6TQRJ·GP$/%%QJ4+% 5GJTUEJÌPpXQT\ÒINKEJ



&KG 4GXGTUFCTUVGNNWPI XGTYGKUV CWH FGP UKGITGKEJGP (GNF\WI FGU 6TCKCPWU IGIGP FKG 2CTVJGT FGP FGT -CKUGT CD   FGO ,CJTG  P %JT HÒJTVG WPF HÒT FGP KJO FGT $GKPCOG 2CTVJKEWU XGTNKGJGP YWTFG &KG DGKFGP 6TQRCGC GKP   FCMKUEJGU WPF GKP RCTVKUEJGU  XGTYGKUGP CWH FKG OKNKV·TKUEJGP 'THQNIG FGU -CKUGTU FGT KP 7PKHQTO CNU UKGITGKEJGT   (GNFJGTT CDIGDKNFGV YKTF #NNGTFKPIU MQPPVGP FKG GTQDGTVGP )GDKGVG KO 1UVGP KO )GIGPUCV\ \W &CMKGP PKEJV NCPIG   IGJCNVGPYGTFGP



Õ6GVTCFTCEJOG ,CJT     6[TQU 2JQGPKEKC   I -QRH T OKV .QTDGGTMTCP\#FNGT   UVGJVNCWH-GWNG2TKGWT -N-TCV\GTUGJTUEJÌP

1392 Æ



1393 Æ

1394 Æ



“3WCFTCPU4QOI&TCRKGTVG$ÒUVGFGT8GPWUTOKV&KCFGO6CWDGT%QJ4+%  &WPMGNITÒPG2CVKPCUGJTUEJÌPpXQT\ÒINKEJ





“3WCFTCPU 4QO  I *GTEWNGUDÒUVG KO .ÌYGPHGNN T-GWNG $/%  %QJ  4+%    5EJYCT\G2CVKPCUGJTUEJÌP





“U 'RJGUWU +QPKC   I -QRH T OKV .QTDGGTMTCP\5VCVWG FGT #TVGOKU 'RJGUKC T $KGPG 50)   %QR )TÒPG2CVKPCUGJTUEJÌP



1395



 HÒT /CVKFKC Õ&GPCT 4QO  I &TCRKGTVG $ÒUVG T OKV &KCFGO2KGVCU UVGJV X X -QRH N   WPFJ·NVFKG*·PFGÒDGT\YGK-KPFGT$/%%QJ4+% (CUVUGJTUEJÌP 

1,5:1



1396 Å

1,5:1

*CFTKCPWUÔ#WTGWU4QOI)GRCP\GTVG$ÒUVGTOKV.QTDGGTMTCP\NFTC RKGTV,WRKVGTUKV\VNOKV$NKV\WPF<GRVGT$/%%CNKEQD%QJ4+% 5GJTUEJÌP

1397

1398



1399



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV(GNKEKVCU UVGJV N OKV %CFW   EGWUWPF(ÒNNJQTP$/%%QJ4+% (CUVXQT\ÒINKEJ





Õ&GPCT  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\2CZ UKV\V N OKV 8KEVQTKC CWH   )NQDWUWPF<YGKI$/%%QJ4+% 5GJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV(QTVWPC UVGJV N OKV 5VGWGT   TWFGTWPF(ÒNNJQTP$/%#PO%QJ4+% )WVGUUGJTUEJÌP

 165


1400 Æ



1402 Æ

1401 Æ

1403 Æ

“5GUVGT\4QOI-QRHTOKV.QTDGGTMTCP\*CFTKCPWUUKV\VNCWH2NCVVHQTOFCXQT UVGJVGKPG(TCWOKV\YGK-KPFGTP$/%%QJ4+%  )TÒPG2CVKPCCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV-CKUGT UKV\V N CWH 2NCVV   HQTO FCXQT UVGJV .KDGTCNKVCU OKV (ÒNNJQTP N XQT FGT 2NCVVHQTO UVGJGP \YGK 6QICVK T $/%    %QJXCT4+%D 45GJTUEJÌP 



“5GUVGT\4QOI&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\%GTGUUVGJVNOKV-QTP·JTGP WPFNCPIGT(CEMGN$/%%QJ4+% &WPMGNITÒPG2CVKPCMN-TCV\GTUGJTUEJÌP





“&WRQPFKWU  4QO  I $ÒUVG T OKV 5VTCJNGPDKPFG N 5EJWNVGT FTCRKGTV5CNWU UVGJV N   OKV2CVGTCWPF4WFGT(W­CWH)NQDWU$/%%QJ4+%C  *GNNITÒPG2CVKPCCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT



&KGCDIGDKNFGVG5\GPGUVGNNVGKPGMCKUGTNKEJG.KDGTCNKVCUFCT

1JPGFKG7OUEJTKHV5#.8528$.+%#CWHFGT4ÒEMUGKVGYÒTFGOCPFKG2GTUQPKHKMCVKQPGJGTHÒTGKPG(QTVWPCJCNVGP

1405 Æ

1404 Æ

1406 Æ



“&WRQPFKWU  4QO  I $ÒUVG T OKV 5VTCJNGPDKPFG N 5EJWNVGT FTCRKGTV5CNWU UVGJV N   OKV2CVGTCWPF4WFGT(W­CWH)NQDWU$/%%QJ4+%C (CUVXQT\ÒINKEJ





“U6KDGTKCU )CNKNCGC I-QRHTOKV.QTDGGTMTCP\NFTCRKGTV6[EJGUVGJVNOKV$ÒUVG WPF<GRVGT(W­CWH2TQTC$/%50)#05 )TÒPG2CVKPCUGJTUEJÌP





“U6KDGTKCU )CNKNCGC I-QRHTOKV.QTDGGTMTCP\NFTCRKGTV6[EJGUVGJVNOKV$ÒUVG WPF<GRVGT(W­CWH2TQTC$/%50)#05 )TÒPG2CVKPCUGJTUEJÌP



1408

1407

1409



Õ*GOKFTCEJOG%CGUCTGC %CRRCFQEKC I&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\0KMG IGJVTOKV-TCP\WPF2CNO\YGKI5[FGPJCO .GKEJVMQTTQFKGTVXQT\ÒINKEJ





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV0GRVWP UVGJV N OKV &GNRJKP   WPF<GRVGT(W­CWH2TQTC$/%%QJ4+% 5GJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\4QOC UVGJV N OKV 8KEVQTKC WPF 5RGGT   $/%%QJ4+% 5GJTUEJÌP



166


1410 Æ

1411

1412 Å

1,5:1

1,5:1



“5GOKU  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\4QOC UKV\V N OKV 8KEVQTKC   WPF.CP\G$/%%QJ4+% 45EJYCT\G2CVKPCUGJTUEJÌP





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV.KDGTVCU UVGJV N OKV 2KNGWU   WPF<GRVGT$/%%QJ4+% 4CPFHGJNGTXQT\ÒINKEJ





Ô#WTGWU  4QO  I -QRH T #GIKU N-CKUGT UVGJV N OKV 5RGGT WPF GTJQDGPGT 4GEJ   VGPFCXQT\YGK5VCPFCTVGPFCJKPVGTGKPG5VCPFCTVG$/%%CNKEQ%QJ4+%D  5GJTUEJÌP 

1414 Æ

1413 Æ



“5GUVGT\  4QO  I &TCRKGTVG $ÒUVG N,WUVKVKC UKV\V N OKV 2CVGTC WPF <GRVGT $/%   XCT%QJ4+% &WPMNG2CVKPCCVVTCMVKXGUHCUVXQT\ÒINKEJGU'ZGORNCT 



“#U  4QO  I &TCRKGTVG$ÒUVGN)CNGGTGN$/%#PO%QJ4+%  $TCWPG2CVKPCUGJTUEJÌP

1415 Æ





1416 Æ



1415 Æ

“#U  4QO  I &TCRKGTVG $ÒUVG T(QTVWPC UKV\V N OKV 5VGWGTTWFGT CWH )NQDWU WPF   (ÒNNJQTP$/%XCT%QJ4+%XCT  5GJTUGNVGPG8CTKCPVG)TÒPG2CVKPCXQNN\GPVTKGTVGUXQT\ÒINKEJGU'ZGORNCT



“&TCEJOG ,CJT     #NGZCPFTKC #GI[RVWU   I &TCRKGTVG $ÒUVG T OKV .QTDGGT   MTCP\+UKU 2JCTKC UVGJV T OKV 5KUVTWO WPF IGDCWUEJVGO 5GIGN FCXQT 2JCTQU OKV 6TKVQPGP FKG DWE   EJKPCDNCUGPWPF5VCVWGCWHFGT.CVGTPG$/%XCT TWPFGT2JCTQU &CVVCTK)GKUUGP  5GJTUGNVGPKPFKGUGT'TJCNVWPI)TÒPG2CVKPCUGJTUEJÌPpXQT\ÒINKEJ 

1417

1418

1419



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\(GNKEKVCU UVGJV N OKV %CFWEGWU WPF   (ÒNNJQTP$/%%QJ4+% (CUVXQT\ÒINKEJ





Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\2KGVCU UVGJV OKV GTJQDGPGP *·PFGP N   XQT#NVCT$/%%QJ4+% 8QT\ÒINKEJ





Õ&GPCT4QOI-QRHT6GNNWUUVGJVNOKV2HNWIWPF4GEJGPFCJKPVGT\YGKJTGP $/%%QJ4+% 45GJTUEJÌPpXQT\ÒINKEJ

 167


1421

1420



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\-CKUGT UVGJV N WPF QRHGTV CWU 2CVGTC   ÒDGT&TGKHW­$/%%QJXCT4+% )WVGUUGJTUEJÌP





Õ&GPCT4QOI-QRHT-CKUGTUVGJVNWPFQRHGTVCWU2CVGTCÒDGT&TGKHW­$/% %QJ4+% 5GJTUEJÌP



1423 Æ

1422 Æ

1424 Æ

1,5:1



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV&KCPC UVGJV N OKV 2HGKN   WPF$QIGP$/%%QJXCT4+%&WPMNG2CVKPCCVVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\#GSWKVCU UVGJV N OKV 9CCIG WPF   (ÒNNJQTP$/%%QJ4+% $TCWPG2CVKPCUGJTUEJÌP





“5GUVGT\ ! 4QOI&TCRKGTVG$ÒUVGTOKV.QTDGGTMTCP\#&8'0685#8)4QOCWPFFGT -CKUGTTGKEJGPUKEJFKG*CPF$/%%QJ4+%$TCWPG2CVKPCNGKEJVMQTTQFKGTVUGJTUEJÌP



&CU 5VÒEM HGKGTV FKG #PMWPHV FGU -CKUGTU KPFGT*CWRVUVCFVKO,CJTGYCT*CFTKCP\WUGKPGTNGV\VGP4GKUG CWHIGDTQEJGP FKG KJP PCEJ 5[TKGP ,WFCGC I[RVGP WPF GTPGWV PCEJ 5[TKGP HÒJTVG &KG #PYGUGPJGKV FGU -CKUGTU   KO1UVGPYCTFWTEJFGP$CT-QMJDC#WHUVCPFGTHQTFGTNKEJ

1425 Æ



“&TCEJOG ,CJT     #NGZCPFTKC #GI[RVWU   I &TCRKGTVG $ÒUVG T OKV .QTDGGT   MTCP\6[EJGTWJVOKV4WFGTCWH.GEVKUVGTPKWON&CVVCTKXCT)GKUUGP 5GJTUEJÌP

1426



1427



Õ%KUVQRJQT'RJGUWUI-QRHT-WNVUVCVWGFGT#TVGOKU'RJGUKCKPXKGTU·WNKIGP6GORGN $/%%QJ/GVECNH4+%C 5GJTUEJÌP





Õ6GVTCFTCEJOG /QRUWU %KNKEKC   I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\#FNGT UVGJV X X   -QRHT\YKUEJGPFGP$GKPGPDTGPPGPFGT#NVCT2TKGWT 445GJTUEJÌP



168


1428 Æ

1429 Æ



“#U 4QO  I -QRH T OKV .QTDGGTMTCP\ N FTCRKGTV)GRCP\GTVG $ÒUVG T OKV .QTDGGTMTCP\   $/%%QJXGTIN4+% 44&WPMNG2CVKPCIWVGUUGJTUEJÌP 



“U -QTKPVJ %QTKPVJKC   I #RJTQFKVGMQRH T6TKRVQNGOQU OKV JTGP WPF <GRVGT T KP 5EJNCP   IGPDKIC5NI$%& FKGU'ZGORNCT 50)%QR $TCWPG2CVKPCUGJTUEJÌP

1430 Å

1431 Å

1,5:1

1,5:1



1,5:1



 HÒT 5CDKPC Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T OKV &KCFGO%QPEQTFKC UKV\V N   'NNDQIGPCWH5VCVWGFGT5RGUIGUVÒV\V$/%%CNKEQ%QJ4+% 45GJTUEJÌP 



Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG N OKV &KCFGO%QPEQTFKC UKV\V N OKV 2CVGTC FGP   N'NNDQIGPCWH5VCVWGFGT5RGUIGUVÒV\VWPVGTFGO6JTQP(ÒNNJQTP$/%%CNKEQ%QJ 4+% 5GJTUEJÌP 

1432

1434

1433



Õ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV&KCFGO+WPQUVGJVNOKV2CVGTCWPF<GRVGT$/% %QJ4+%C 8QT\ÒINKEJGU'ZGORNCTOKVHGKPGT2CVKPC





Õ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV&KCFGO8GPWUUVGJVTOKV#RHGN$/%%QJ 4+% 5VGORGNIN·P\GPFGU2TCEJVGZGORNCT



'ZGORNCTFGT#WMVKQP.CP\/ÒPEJGP0T



Õ&GPCT4QOI&TCRKGTVG$ÒUVGTOKV&KCFGO8GPWUUVGJVTOKV#RHGN$/%%QJ 4+% 5GJTUEJÌP



1436

1435 Æ

1437 Æ



“5GUVGT\ 4QO  I &TCRKGTVG $ÒUVG T OKV &KCFGO8GPWU UVGJV T OKV #RHGN $/%    %QJ4+% $TCWPG2CVKPCIWVGUUGJTUEJÌP





 HÒT #GNKWU Õ&GPCT  4QO  I -QRH T%QPEQTFKC UVGJV N OKV 2CVGTC WPF (ÒNNJQTP   $/%%QJ4+% )WVGUUGJTUEJÌP





“#U  4QO  I -QRH T2CPPQPKC UVGJV X X -QRH T KP FGT 4GEJVGP 8GZKNNWO $/%   XCT%QJXGTIN4+%XGTIN &WPMNG2CVKPCNGKEJVIGIN·VVGVUGJTUEJÌP



'ZGORNCT FGT 5COONWPI $GP\ #WMVKQP .CP\  /ÒPEJGP  0T  WPF FGT 5COONWPI /C\\KPK 6CX   .8+++ 

169


1438

1439 Å

1440

1,5:1

1,5:1



Õ&TCEJOG#OKUWU 2QPVWU I-QRHT&KMCKQU[PGUVGJVNOKV9CCIGWPF(ÒNNJQTP$/%  445GJTUEJÌP





#PVQPKPWU+2KWUÔ#WTGWU4QOI-QRHT2KGVCUUVGJVNOKV9GKJTCWEJIGH·­ FCXQT#NVCT$/%%CNKEQ%QJ4+%C #VVTCMVKXGU'ZGORNCTUGJTUEJÌPpXQT\ÒINKEJ





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\2CZUVGJVNOKV<YGKIWPF(ÒNNJQTP$/% %QJ4+% 4CPFTK­4GXGTUFG\GPVTKGTVXQT\ÒINKEJGU'ZGORNCTOKVHGKPGT2CVKPC



1441 Å 1442 1,5:1

1,5:1



Ô#WTGWU  4QO  I -QRH N OKV .QTDGGTMTCP\-CKUGT UVGJV T OKV 5RGGT WPF 2CTC\Q   PKWO(W­CWH)NQDWU$/%#PO%CNKEQ%QJ4+%C  /KP(CUUWPIUURWTGPMN-TCV\GTCWHFGO4GXGTUUGJTUEJÌP 



Õ6GVTCFTCEJOG ,CJT     #NGZCPFTKC #GI[RVWU   I -QRH T OKV .QTDGGTMTCP\   &TCRKGTVG$ÒUVGFGU5CTCRKUTOKV-CNCVJQUWPF.QTDGGTMTCP\&CVVCTKXCT)GKUUGP  5GJTUEJÌP

1443 Å



1,5:1



1443 Å

Ô#WTGWU4QOI-QRHT4QOCUKV\VNOKV2CNNCFKWO5RGGTWPF5EJKNF$/% %CNKEQ%QJ4+% *GTXQTTCIGPFGCPVKMG(CUUWPIHCUVXQT\ÒINKEJ



1444

 170

Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\$NKV\ CWH 6JTQP 2WNXKPCT FGU ,WRK   VGT $/%%QJ4+% 5GJTUEJÌP




1445 Æ

1,5:1

1,5:1



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\-CKUGT KP 3WCFTKIC N OKV #FNGT\GR   VGT$/%%QJ4+%C &WPMNG2CVKPCUGJTUEJÌPpXQT\ÒINKEJ



1446 Å 1,5:1



1,5:1

Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\#GSWKVCU UVGJV N OKV   9CCIGWPF(ÒNNJQTP$/%%CNKEQD%QJ4+% 2TCEJVGZGORNCT5VGORGNINCP\ 

1447

1448 Æ



1449 Æ

Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\#PPQPC UVGJV N OKV JTGP WPF #PMGT   FCXQT/QFKWU$/%%QJ4+% 8QT\ÒINKEJ



'ZGORNCTFGT#WMVKQP(TKV\4WFQNH-ÒPMGT1UPCDTÒEM0T



“#U  4QO  I -QRH T OKV .QTDGGTMTCP\#PPQPC UKV\V N OKV JTGP WPF (ÒNNJQTP   FCXQT/QFKWU$/%%QJ4+% &WPMNG2CVKPCIWVGUUGJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\+PFWNIGPVKC UKV\V N OKV CWUIGUVTGEMVGT   4GEJVGPWPF<GRVGT$/%%QJ4+% )TÒPG2CVKPCIWVGUUGJTUEJÌP



1,5:1



1450 Å

1,5:1

Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T-CKUGT UVGJV N OKV )NQDWU $/%  XCT   %CNKEQ%QJ4+%E 2TCEJVGZGORNCTHCUV5VGORGNINCP\  171


1451 Æ



“&WRQPFKWU  4QO  I -QRH T OKV 5VTCJNGPDKPFG2CZ UVGJV N OKV <YGKI WPF (ÒNN   JQTP$/%5#PO%QJ4+% &WPMGNITÒPG2CVKPCHCUVXQT\ÒINKEJ



1452 Å 1,5:1



1,5:1

Ô#WTGWU4QOI-QRHTOKV.QTDGGTMTCP\8KEVQTKCIGJVNOKV-TCP\WPF2CNO\YGKI $/%%CNKEQ%QJ4+%C  /KPKOCNG(CUUWPIUURWTGPFGPPQEJUGJTCVVTCMVKXGUXQT\ÒINKEJGU'ZGORNCT

1453 Æ







1454 Æ

“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\6QICVWU UVGJV KP \YGKU·WNKIGO 6GO   RGNTCWH%KRRWUOKV<GRVGTWPF<YGKI$/%XGTINHH%QJ4+%  &WPMGNITÒPG2CVKPCUGJTUEJÌP



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\#EJVU·WNKIGT 6GORGN FGU &KXWU   #WIWUVWU$/%#PO%QJXCT4+%# &WPMGNITÒPG2CVKPCUGJTUEJÌP



1455 Å 1,5:1



1,5:1

Ô#WTGWU  4QO  I -QRH T OKV .QTDGGTMTCP\2KGVCU UVGJV N OKV )NQDWU WPF -KPF   \YKUEJGP\YGK-KPFGTP$/%%CNKEQ%QJ4+%  #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCTOKVHGKPGT)QNFRCVKPC 

1456 Æ

1458 Æ

1457 Æ



“3WCFTCPU4QOI-QRHFGU/CTUTOKV*GNO2CP\GT%QJ4+%  #VVTCMVKXGUUGJTUEJÌPGU'ZGORNCT





“3WCFTCPU4QOI)GHNÒIGNVGT2GVCUWU)GHNÒIGNVGT%CFWEGWU%QJ4+%  4/KPMQTTQFKGTVUGJTUEJÌP





“U-QTKPVJ %QTKPVJKC I-QRHTOKV.QTDGGTMTCP\%JKO·TGT5NI$%& FKGU'ZGORNCT   1NKXITÒPG2CVKPCUGJTUEJÌP



172


1459 Æ

1460 Æ

1461



“U #PVKQEJKC 2KUKFKC   I $ÒUVG FGU *GTOGU T*CJP IGJV T -T\[\CPQYUMC XGTIN 5   

FKGUG5VGORGNPKEJVXGT\GKEJPGV  5GJTUEJÌP





“U 'KMQPKQP .[ECQPKC   I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\#VJGPCMQRH T OKV MQTKPVJK   UEJGO*GNOX#WNQEM/ÒP\GPWPF5V·FVG.[MCQPKGPU &WPMNG2CVKPCUGJTUEJÌP





Õ6GVTCFTCEJOG /QRUWU %KNKEKC   I -QRH T OKV .QTDGGTMTCP\&KCPC UVGJV T OKV 2HGKN WPF   $QIGPFCXQT*KTUEJ2TKGWT 4(CUVUGJTUEJÌP



1462 Å

1463 Å

1,5:1

1,5:1

1,5:1



 HÒT (CWUVKPC OCVGT Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG N8GUVC UKV\V N OKV   2CNNCFKWOWPF<GRVGT$/%%CNKEQ%QJ4+% 4-N4CPFGKPJKGDUGJTUEJÌP 



 HÒT &KXC (CWUVKPC OCVGT Ô#WTGWU PCEJ  4QO  I &TCRKGTVG $ÒUVG T%GTGU UVGJV N   OKV\YGK(CEMGNP$/%%CNKEQ%QJ4+%C 8QT\ÒINKEJ 

1465

1464

1466 Æ

1466 Æ



Õ&GPCTPCEJ4QOI&TCRKGTVG$ÒUVGT%GTGUUVGJVNOKVJTGPWPF(CEMGN$/% %QJ4+% 8QTFGTUGKVG-TCV\GTXQT\ÒINKEJ





Õ&GPCTPCEJ4QOI&TCRKGTVG$ÒUVGT(QTVWPCUVGJVNOKV)NQDWUWPF4WFGT$/% %QJ4+% 5GJTUEJÌP





“5GUVGT\ PCEJ  4QO  I &TCRKGTVG $ÒUVG T8GUVC UVGJV N OKV 2CNNCFKWO WPF <GRVGT   $/%%QJ4+% &WPMGNITÒPG2CVKPCXQT\ÒINKEJ



1467 Æ

1,5:1

1468 Å



HÒT(CWUVKPCHKNKC“#U4QOI&TCRKGTVG$ÒUVGT8GPWUUVGJVNOKV#RHGNWPF5VGWGTTWFGT $/%%QJ4+% 5GJTUEJÌP



Ô#WTGWU 4QO  I &TCRKGTVG $ÒUVG T8GPWU UVGJV N OKV #RHGN WPF <GRVGT $/%    %CNKEQ%QJ4+%E #VVTCMVKXGU'ZGORNCTUGJTUEJÌPXQT\ÒINKEJ 



173


1469 Å

1470 Å

1,5:1



Ô#WTGWU 4QO  I &TCRKGTVG $ÒUVG N&KCPC UVGJV N OKV 2HGKN WPF $QIGP $/%  %CNKEQ   %QJGP4+%D 5GJTUEJÌP 



Ô#WTGWU4QOI&TCRKGTVG$ÒUVGN6CWDGUVGJVT$/%%QJ4+%D

1472

5EJÌP



1473

1471 Æ



“#U4QOI&TCRKGTVG$ÒUVGT8GPWUUVGJVNOKV#RHGNWPF<GRVGT$/%%QJ 4+% )TÒPG2CVKPCUGJTUEJÌP





WPF/CTEWU#WTGNKWUÕ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\-QRHT$/% %QJ4+%C 5GJTUEJÌP





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\-QRHT$/%%QJ4+%C  5GJTUEJÌP



1474

1475

1476

1477

1478



Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\-QRHT$/%%QJ4+%C  5GJTUEJÌP





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\-QRHT$/%%QJ4+%C  5GJTUEJÌP





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\&TCRKGTVG$ÒUVGT$/%%QJ4+%D  5GJTUEJÌP





Õ&GPCT 4QOI-QRHTOKV.QTDGGTMTCP\&TCRKGTVG$ÒUVGT$/%XCT%QJ 4+%E 5GJTUEJÌP





Õ&GPCT4QOI-QRHTOKV.QTDGGTMTCP\&TCRKGTVG$ÒUVGT$/%XCT%QJ

#WTGWU 4+%F #WTGWU  .GKEJVGT-TCV\GTCWH4ÒEMUGKVGUGJTUEJÌP



1479 Æ

1480 Æ



“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\&TCRKGTVG $ÒUVG T $/%  %QJ    4+% $TCWPG2CVKPCUGJTUEJÌP





“5GUVGT\  4QO  I -QRH T OKV .QTDGGTMTCP\&TCRKGTVG $ÒUVG T $/%  %QJ    4+% $TCWPG2CVKPCHCUVUGJTUEJÌP



174


1481

1482

1483



 HÒT /CTEWU #WTGNKWU Õ&GPCT  4QO  I -QRH N2TKGUVGTIGT·VG $/%  XCT   %QJ4+%E 45GJTUEJÌP





Õ&GPCT  4QO  I -QRH T*QPQU UVGJV N OKV <YGKI WPF (ÒNNJQTP $/%  %QJ   4+% 8QT\ÒINKEJ





Õ&GPCT  4QO  I -QRH T+WXGPVCU UVGJV N OKV 2CVGTC WPF QRHGTV ÒDGT -CPFGNCDGT   $/%%QJ4+%C (GKPG6ÌPWPIIWVGUUGJTUEJÌP



1485 Æ

1484 Æ



“&WRQPFKWU  4QO  I -QRH T+WXGPVCU UVGJV N OKV 2CVGTC WPF QRHGTV ÒDGT -CPFG   NCDGT$/%%QJ4+% &WPMGNDTCWPG2CVKPCHCUVUGJTUEJÌP





“#U4QOI&TCRKGTVG$ÒUVGT2TKGUVGTIGT·VG$/%%QJ4+%D   &WPMGNITÒPGNGKEJVIGIN·VVGVG2CVKPCHCUVUGJTUEJÌP



1487 Æ

1486 Æ



“5GUVGT\  4QO  I -QRH T*KNCTKVCU UVGJV N OKV 2CNO\YGKI WPF (ÒNNJQTP $/%    %QJ4+%C 8QTFGTUGKVGOKPKOCNGT5EJTÌVNKPIUHGJNGTDTCWPG2CVKPCIWVGUUGJTUEJÌP





“#U  4QO  I -QRH T%QPEQTFKC UVGJV N OKV 2CVGTC WPF (ÒNNJQTP FCJKPVGT #NVCT   $/%%QJ4+% &WPMNG2CVKPCUGJTUEJÌP



1488

1489

1490

1491

1492



Õ&GPCT4QOI-QRHT*QPQUUVGJVNOKV<YGKIWPF(ÒNNJQTP$/%%QJ 4+%C .GKEJVIGVÌPVHCUVXQT\ÒINKEJ





Õ&GPCT4QOI-QRHT*QPQUUVGJVNOKV<YGKIWPF(ÒNNJQTP$/%%QJ 4+%C 8QT\ÒINKEJ





Õ&GPCT4QOI-QRHT/KPGTXCUVGJVTOKV5RGGTWPF5EJKNF$/%%QJ 4+%D 8QT\ÒINKEJ





Õ&GPCT4QOI-QRHT/KPGTXCUVGJVTOKV5RGGTWPF5EJKNF$/%%QJ 4+%D 5GJTUEJÌP





Õ&GPCT4QOI-QRHT/KPGTXCUVGJVTOKV5RGGTWPF5EJKNF$/%%QJ 4+%D 5GJTUEJÌP

 175


1495 1493 Æ

1494 Æ



“#U4QOI-QRHT/KPGTXCUVGJVTOKV5RGGTWPF5EJKNF$/%%QJ 4+% &WPMNG2CVKPCUGJTUEJÌP





“#U  4QO  I -QRH T+P 'KEJGPMTCP\ +88'06855% $/%  %QJ    4+% $TCWPG2CVKPCHCUVUGJTUEJÌP





Õ&GPCT4QOI-QRHT2TQXKFGPVKCUVGJVNCP5·WNGIGNGJPVOKV<GRVGTWPF\GKIVOKV 5VCDCWH)NQDWU\WKJTGP(Ò­GP$/%%QJ4+% )WVGT5VKNHGKPIGVÌPVXQT\ÒINKEJ

1496 Æ

1497 Å

1,5:1



1498 Æ

1,5:1



“5GUVGT\  4QO  I &TCRKGTVG $ÒUVG T/KPGTXC UVGJV N OKV 8KEVQTKC 5RGGT WPF   5EJKNF$/%%QJ4+% &WPMNG2CVKPCGVYCUMQTTQFKGTVHCUVUGJTUEJÌP



Ô#WTGWU  4QO  I -QRH T T FTCRKGTV4QOC UVGJV N OKV 8KEVQTKC WPF 2CTC\QPKWO   $/%%CNKEQC%QJ4+% 45GJTUEJÌP 



“5GUVGT\4QOI&TCRKGTVG$ÒUVGT/KPGTXCUKV\VTOKV5RGGTWPF#GIKUFCJKPVGT 5EJKNF$/%%QJ4+%D &WPMGNITÒPG2CVKPCNGKEJVHNGEMKIIWVGUUGJTUEJÌP

1500

1499 Æ

1501





1502

1499 Æ



“5GUVGT\  4QO  I &TCRKGTVG $ÒUVG T/KPGTXC UKV\V T OKV 5RGGT WPF 5EJKNF $/%   %QJ4+% $TCWPG2CVKPCUGJTUEJÌP





Õ&GPCT  4QO  I &TCRKGTVG $ÒUVG T/KPGTXC UVGJV N OKV 'WNG 5RGGT WPF 5EJKNF   $/%%QJ4+%D 8QT\ÒINKEJGU2TCEJVGZGORNCT





Õ&GPCT  4QO  I -QRH T8KTVWU UVGJV N OKV 2CTC\QPKWO WPF 5RGGT $/%    %QJ4+% )WVGUUGJTUEJÌP





Õ&GPCT  4QO  I -QRH T(GNKEKVCU UVGJV N OKV %CFWEGWU WPF <GRVGT $/%    XCT%QJXCT4+%XCT (GKPIGVÌPVMPCRRGT5EJTÌVNKPIXQT\ÒINKEJ



176


1504

1503

1506

1505

1507

1508



Õ&GPCT  4QO  I -QRH T8KTVWU UVGJV N OKV 2CTC\QPKWO WPF 5RGGT $/%    %QJ4+% 5GJTUEJÌP





Õ&GPCT  4QO  I -QRH T(GNKEKVCU UVGJV N OKV %CFWEGWU WPF WPF <GRVGT CP 5·WNG   IGNGJPV$/%%QJ4+%C 8QT\ÒINKEJ





Õ&GPCT  4QO  I -QRH T(GNKEKVCU UVGJV N OKV %CFWEGWU WPF WPF <GRVGT CP 5·WNG   IGNGJPV$/%%QJ4+%C 8QT\ÒINKEJ





Õ&GPCT  4QO  I -QRH T8KTVWU UVGJV T OKV 5RGGT WPF 2CTC\QPKWO (W­ CWH   *GNO$/%%QJ4+%G (CUVXQT\ÒINKEJ





Õ&GPCT4QOI-QRHT/KPGTXCUVGJVTOKV5RGGTWPF5EJKNF$/%%QJ 4+% (CUVXQT\ÒINKEJ





Õ&GPCT4QOI-QRHT/CTUUVGJVNOKV5RGGTWPF5EJKNF$/%%QJ 4+% (CUVXQT\ÒINKEJ



1510 Å

1509 Æ

1,5:1



“#U  4QO  I -QRH T9GKDNKEJG (KIWT !  UVGJV N OKV 5VCD WPF (CUEKU $/%    %QJ4+% 5EJYCT\G2CVKPCUGJTUEJÌP



#PVQPKPWU++/CTEWU#WTGNKWUÔ#WTGWU4QOI&TCRKGTVG$ÒUVGT/CTEWU #WTGNKWU WPF .WEKWU 8GTWU TGKEJGP UKEJ FKG *CPF $/%  #PO %CNKEQ  %QJ  4+%     45GJTUEJÌP 

1511 Æ

1512 Æ

1513



1514



“#U  4QO  I -QRH T OKV .QTDGGTMTCP\/CTEWU #WTGNKWU WPF .WEKWU 8GTWU TGKEJGP   UKEJFKG*CPF$/%%QJ4+% &WPMGNITÒPG2CVKPCUGJTUEJÌP





“U ,CJT     )CFCTC &GMCRQNKU   I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\&TCRKGTVG   $ÒUVGFGU*GTCMNGUTOKV.QTDGGTMTCP\5RKLMGTOCP 5EJYCT\G2CVKPCHCUVUGJTUEJÌP





Õ6GVTCFTCEJOG,CJT  #NGZCPFTKCI-QRHNOKV.QTDGGTMTCP\T5EJWNVGTFTC RKGTV5CTCRKU UVGJV N OKV 5KORWNWO N .GDGU CWH $CWOUVWORH T 8GZKNNWO &CVVCTK  )GKUUGP     5GJTUEJÌP



Õ&GPCT  4QO  I -QRH T OKV .QTDGGTMTCP\2CZ UVGJV N OKV <YGKI WPF (ÒNNJQTP   $/%%QJ4+% (GKPG2CVKPCXQT\ÒINKEJ





177


1,5:1



1515 Å 1,5:1

Ô#WTGWU  4QO  I &TCRKGTVG $ÒUVG T OKV .QTDGGTMTCP\-CKUGT UVGJV N OKV $NKV\   WPF<GRVGTXQP8KEVQTKCDGMT·P\V$/%%CNKEQ%QJ4+% )WVGUUGJTUEJÌP 

1517 Æ

1518 Æ

1516 Æ

1516 Æ 1,5:1



“&WRQPFKWU  4QO  I -QRH T OKV 5VTCJNGPDKPFG8KEVQTKC IGJV N OKV -TCP\ WPF   2CNO\YGKI$/%#%QJ4+% $TCWPITÒPG2CVKPCIWVGUUGJTUEJÌP