Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
New City Consulting Inc; 2024-09-25; PSA25-3507FAC
W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϮ ϲ͘ Wh>/tKZ<^ ϲ͘ϭ WƌĞǀĂŝůŝŶŐtĂŐĞZĂƚĞƐ͘ŶLJĐŽŶƐƚƌƵĐƚŝŽŶ͕ĂůƚĞƌĂƚŝŽŶ͕ĚĞŵŽůŝƚŝŽŶ͕ƌĞƉĂŝƌ͕ĂŶĚŵĂŝŶƚĞŶĂŶĐĞǁŽƌŬ͕ ŝŶĐůƵĚŝŶŐǁŽƌŬƉĞƌĨŽƌŵĞĚĚƵƌŝŶŐĚĞƐŝŐŶĂŶĚƉƌĞĐŽŶƐƚƌƵĐƚŝŽŶƐƵĐŚĂƐŝŶƐƉĞĐƚŝŽŶĂŶĚůĂŶĚƐƵƌǀĞLJŝŶŐǁŽƌŬ͕ ĐƵŵƵůĂƚŝǀĞůLJĞdžĐĞĞĚŝŶŐΨϭ͕ϬϬϬĂŶĚƉĞƌĨŽƌŵĞĚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚĐŽŶƐƚŝƚƵƚĞ͞ƉƵďůŝĐǁŽƌŬƐ͟ƵŶĚĞƌ ĂůŝĨŽƌŶŝĂ>ĂďŽƌŽĚĞƐĞĐƚŝŽŶϭϳϮϬĞƚƐĞƋ͘ĂŶĚĂƌĞƐƵďũĞĐƚƚŽƐƚĂƚĞƉƌĞǀĂŝůŝŶŐǁĂŐĞůĂǁƐ͘dŚĞŐĞŶĞƌĂů ƉƌĞǀĂŝůŝŶŐƌĂƚĞŽĨǁĂŐĞƐ͕ĨŽƌĞĂĐŚĐƌĂĨƚŽƌƚLJƉĞŽĨǁŽƌŬĞƌŶĞĞĚĞĚƚŽĞdžĞĐƵƚĞƚŚĞĐŽŶƚƌĂĐƚ͕ƐŚĂůůďĞƚŚŽƐĞ ĂƐĚĞƚĞƌŵŝŶĞĚďLJƚŚĞŝƌĞĐƚŽƌŽĨ/ŶĚƵƐƚƌŝĂůZĞůĂƚŝŽŶƐƉƵƌƐƵĂŶƚƚŽƚŚĞ^ĞĐƚŝŽŶϭϳϳϬ͕ϭϳϳϯĂŶĚϭϳϳϯ͘ϭŽĨ ƚŚĞĂůŝĨŽƌŶŝĂ>ĂďŽƌŽĚĞ͘WƵƌƐƵĂŶƚƚŽ^ĞĐƚŝŽŶϭϳϳϯ͘ϮŽĨƚŚĞĂůŝĨŽƌŶŝĂ>ĂďŽƌĐŽĚĞ͕ĂĐƵƌƌĞŶƚĐŽƉLJŽĨ ĂƉƉůŝĐĂďůĞǁĂŐĞƌĂƚĞƐŝƐŽŶĨŝůĞŝŶƚŚĞŽĨĨŝĐĞŽĨƚŚĞŝƚLJ ŶŐŝŶĞĞƌ͘ŽŶƚƌĂĐƚŽƌƐŚĂůůŶŽƚƉĂLJůĞƐƐƚŚĂŶƚŚĞ ƐĂŝĚƐƉĞĐŝĨŝĞĚƉƌĞǀĂŝůŝŶŐƌĂƚĞƐŽĨǁĂŐĞƐƚŽĂůůƐƵĐŚǁŽƌŬĞƌƐĞŵƉůŽLJĞĚďLJŚŝŵŽƌŚĞƌŝŶƚŚĞĞdžĞĐƵƚŝŽŶŽĨƚŚĞ ŐƌĞĞŵĞŶƚ͘ŽŶƚƌĂĐƚŽƌĂŶĚĂŶLJƐƵďĐŽŶƚƌĂĐƚŽƌƐƐŚĂůůĐŽŵƉůLJǁŝƚŚ^ĞĐƚŝŽŶϭϳϳϲŽĨƚŚĞĂůŝĨŽƌŶŝĂ>ĂďŽƌ ŽĚĞ͕ǁŚŝĐŚŐĞŶĞƌĂůůLJƌĞƋƵŝƌĞƐŬĞĞƉŝŶŐĂĐĐƵƌĂƚĞƉĂLJƌŽůůƌĞĐŽƌĚƐ͕ǀĞƌŝĨLJŝŶŐĂŶĚĐĞƌƚŝĨLJŝŶŐƉĂLJƌŽůůƌĞĐŽƌĚƐ͕ ĂŶĚŵĂŬŝŶŐƚŚĞŵĂǀĂŝůĂďůĞĨŽƌŝŶƐƉĞĐƚŝŽŶ͘ŽŶƚƌĂĐƚŽƌƐŚĂůůƌĞƋƵŝƌĞĂŶLJƐƵďĐŽŶƚƌĂĐƚŽƌƐƚŽĐŽŵƉůLJǁŝƚŚ ^ĞĐƚŝŽŶϭϳϳϲ͘ ϲ͘Ϯ /Z ZĞŐŝƐƚƌĂƚŝŽŶ͘ ĂůŝĨŽƌŶŝĂ >ĂďŽƌ ŽĚĞ ƐĞĐƚŝŽŶ ϭϳϮϱ͘ϱ ƌĞƋƵŝƌĞƐ ƚŚĞ ŽŶƚƌĂĐƚŽƌ ĂŶĚ ĂŶLJ ƐƵďĐŽŶƚƌĂĐƚŽƌ Žƌ ƐƵďĐŽŶƐƵůƚĂŶƚ ƉĞƌĨŽƌŵŝŶŐ ĂŶLJ ƉƵďůŝĐ ǁŽƌŬ ƵŶĚĞƌ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ƚŽ ďĞ ĐƵƌƌĞŶƚůLJ ƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞĂůŝĨŽƌŶŝĂĞƉĂƌƚŵĞŶƚŽĨ/ŶĚƵƐƚƌŝĂůZĞůĂƚŝŽŶƐ;/ZͿ͕ĂƐƐƉĞĐŝĨŝĞĚŝŶ>ĂďŽƌŽĚĞƐĞĐƚŝŽŶ ϭϳϮϱ͘ϱ͘>ĂďŽƌŽĚĞƐĞĐƚŝŽŶϭϳϳϭ͘ϭƉƌŽǀŝĚĞƐƚŚĂƚĂĐŽŶƚƌĂĐƚŽƌŽƌƐƵďĐŽŶƚƌĂĐƚŽƌͬƐƵďĐŽŶƐƵůƚĂŶƚƐŚĂůůŶŽƚďĞ ƋƵĂůŝĨŝĞĚƚŽĞŶŐĂŐĞŝŶƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨĂŶLJĐŽŶƚƌĂĐƚĨŽƌƉƵďůŝĐǁŽƌŬ͕ƵŶůĞƐƐĐƵƌƌĞŶƚůLJƌĞŐŝƐƚĞƌĞĚĂŶĚ ƋƵĂůŝĨŝĞĚƚŽƉĞƌĨŽƌŵƉƵďůŝĐǁŽƌŬƉƵƌƐƵĂŶƚƚŽ>ĂďŽƌŽĚĞƐĞĐƚŝŽŶϭϳϮϱ͘ϱ͘WƌŝŽƌƚŽƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨ ƉƵďůŝĐǁŽƌŬďLJĂŶLJƐƵďĐŽŶƚƌĂĐƚŽƌŽƌƐƵďĐŽŶƐƵůƚĂŶƚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͕ŽŶƚƌĂĐƚŽƌŵƵƐƚĨƵƌŶŝƐŚŝƚLJ ǁŝƚŚƚŚĞƐƵďĐŽŶƚƌĂĐƚŽƌŽƌƐƵďĐŽŶƐƵůƚĂŶƚΖƐĐƵƌƌĞŶƚ/ZƌĞŐŝƐƚƌĂƚŝŽŶŶƵŵďĞƌ͘ ϳ͘ KE^dZhd/KEDE' D Ed^K&dtZ WƌŽĐŽƌĞWƌŽũĞĐƚDĂŶĂŐĞŵĞŶƚĂŶĚŽůůĂďŽƌĂƚŝŽŶ^LJƐƚĞŵ͘dŚŝƐƉƌŽũĞĐƚŵĂLJƵƚŝůŝnjĞƚŚĞKǁŶĞƌ͛ƐWƌŽĐŽƌĞ ;ǁǁǁ͘ƉƌŽĐŽƌĞ͘ĐŽŵͿŽŶůŝŶĞƉƌŽũĞĐƚŵĂŶĂŐĞŵĞŶƚĂŶĚĚŽĐƵŵĞŶƚĐŽŶƚƌŽůƉůĂƚĨŽƌŵ͘dŚĞŝŶƚĞŶƚŽĨƵƚŝůŝnjŝŶŐ WƌŽĐŽƌĞŝƐƚŽƌĞĚƵĐĞĐŽƐƚĂŶĚƐĐŚĞĚƵůĞƌŝƐŬ͕ŝŵƉƌŽǀĞƋƵĂůŝƚLJĂŶĚƐĂĨĞƚLJ͕ĂŶĚŵĂŝŶƚĂŝŶĂŚĞĂůƚŚLJƚĞĂŵ ĚLJŶĂŵŝĐ ďLJ ŝŵƉƌŽǀŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ ĨůŽǁ͕ ƌĞĚƵĐŝŶŐ ŶŽŶͲƉƌŽĚƵĐƚŝǀĞĂĐƚŝǀŝƚŝĞƐ͕ ƌĞĚƵĐŝŶŐ ƌĞǁŽƌŬ ĂŶĚ ĚĞĐƌĞĂƐŝŶŐ ƚƵƌŶĂƌŽƵŶĚ ƚŝŵĞƐ͘ dŚĞ ŽŶƚƌĂĐƚŽƌ ŝƐ ƌĞƋƵŝƌĞĚ ƚŽ ĐƌĞĂƚĞĂĨƌĞĞǁĞďͲďĂƐĞĚWƌŽĐŽƌĞƵƐĞƌ ĂĐĐŽƵŶƚ;ƐͿĂŶĚƵƚŝůŝnjĞǁĞďͲďĂƐĞĚƚƌĂŝŶŝŶŐͬƚƵƚŽƌŝĂůƐ;ĂƐŶĞĞĚĞĚͿƚŽďĞĐŽŵĞĨĂŵŝůŝĂƌǁŝƚŚƚŚĞƐLJƐƚĞŵ͘ hŶůĞƐƐƚŚĞ ŶŐŝŶĞĞƌĂƉƉƌŽǀĞƐŽƚŚĞƌǁŝƐĞ͕ƚŚĞŽŶƚƌĂĐƚŽƌƐŚĂůůƉƌŽĐĞƐƐĂůůƉƌŽũĞĐƚĚŽĐƵŵĞŶƚƐƚŚƌŽƵŐŚ WƌŽĐŽƌĞďĞĐĂƵƐĞƚŚŝƐƉůĂƚĨŽƌŵǁŝůůďĞƵƐĞĚƚŽƐƵďŵŝƚ͕ƚƌĂĐŬ͕ĚŝƐƚƌŝďƵƚĞĂŶĚĐŽůůĂďŽƌĂƚĞŽŶƉƌŽũĞĐƚ͘/Ĩ ƵŶĨĂŵŝůŝĂƌ Žƌ ŶŽƚ ŽƚŚĞƌǁŝƐĞ ƚƌĂŝŶĞĚ ǁŝƚŚ WƌŽĐŽƌĞ͕ ŽŶƚƌĂĐƚŽƌ ĂŶĚ ĂƉƉůŝĐĂďůĞ ƚĞĂŵ ŵĞŵďĞƌƐ ƐŚĂůů ĐŽŵƉůĞƚĞĂĨƌĞĞƚƌĂŝŶŝŶŐĐĞƌƚŝĨŝĐĂƚŝŽŶĐŽƵƌƐĞůŽĐĂƚĞĚĂƚŚƚƚƉ͗ͬͬůĞĂƌŶ͘ƉƌŽĐŽƌĞ͘ĐŽŵͬƉƌŽĐŽƌĞͲĐĞƌƚŝĨŝĐĂƚŝŽŶͲ ƐƵďĐŽŶƚƌĂĐƚŽƌ͘dŚĞŽŶƚƌĂĐƚŽƌŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌĂƚƚĂŝŶŝŶŐƚŚĞŝƌŽǁŶWƌŽĐŽƌĞƐƵƉƉŽƌƚ͕ĂƐŶĞĞĚĞĚ͕ĞŝƚŚĞƌ ƚŚƌŽƵŐŚƚŚĞŽŶůŝŶĞƚƌĂŝŶŝŶŐŽƌƌĞĂĐŚŝŶŐŽƵƚƚŽƚŚĞWƌŽĐŽƌĞƐƵƉƉŽƌƚƚĞĂŵ͘/ƚǁŝůůďĞƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨƚŚĞ ŽŶƚƌĂĐƚŽƌƚŽƌĞŐƵůĂƌůLJĐŚĞĐŬWƌŽĐŽƌĞĂŶĚƌĞǀŝĞǁƵƉĚĂƚĞĚĚŽĐƵŵĞŶƚƐĂƐƚŚĞLJĂƌĞĂĚĚĞĚ͘dŚĞƌĞǁŝůůďĞŶŽ ĐŽƐƚƚŽƚŚĞŽŶƚƌĂĐƚŽƌĨŽƌƵƐĞŽĨWƌŽĐŽƌĞ͘ /ƚ ŝƐ ƌĞĐŽŵŵĞŶĚĞĚ ƚŚĂƚ ƚŚĞ ŽŶƚƌĂĐƚŽƌ ƉƌŽǀŝĚĞ ŵŽďŝůĞ ĂĐĐĞƐƐ ĨŽƌ tŝŶĚŽǁƐ͕ ŝK^ ůŽĐĂƚĞĚ Ăƚ ŚƚƚƉƐ͗ͬͬĂƉƉƐ͘ĂƉƉůĞ͘ĐŽŵͬƵƐͬĂƉƉͬƉƌŽĐŽƌĞͲĐŽŶƐƚƌƵĐƚŝŽŶͲŵĂŶĂŐĞŵĞŶƚͬŝĚϯϳϰϵϯϬϱϰϮŽƌŶĚƌŽŝĚĚĞǀŝĐĞƐ ůŽĐĂƚĞĚĂƚŚƚƚƉƐ͗ͬͬƉůĂLJ͘ŐŽŽŐůĞ͘ĐŽŵͬƐƚŽƌĞͬĂƉƉƐͬĚĞƚĂŝůƐ͍ŝĚсĐŽŵ͘ƉƌŽĐŽƌĞ͘ĂĐƚŝǀŝƚŝĞƐǁŝƚŚƚŚĞWƌŽĐŽƌĞƉƉ ŝŶƐƚĂůůĞĚ ƚŽ Ăƚ ůĞĂƐƚ ŽŶĞ ŽŶͲƐŝƚĞ ŝŶĚŝǀŝĚƵĂů ƚŽ ƉƌŽǀŝĚĞ ƌĞĂůͲƚŝŵĞ ĂĐĐĞƐƐ ƚŽ ĐƵƌƌĞŶƚ ƉŽƐƚĞĚ ĚƌĂǁŝŶŐƐ͕ ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ͕Z&/Ɛ͕ƐƵďŵŝƚƚĂůƐ͕ƐĐŚĞĚƵůĞƐ͕ĐŚĂŶŐĞŽƌĚĞƌƐ͕ƉƌŽũĞĐƚĚŽĐƵŵĞŶƚƐ͕ĂƐǁĞůůĂƐĂŶLJĚĞĨŝĐŝĞŶƚ ŽďƐĞƌǀĂƚŝŽŶƐŽƌƉƵŶĐŚůŝƐƚŝƚĞŵƐ͘WƌŽǀŝĚŝŶŐŵŽďŝůĞĂĐĐĞƐƐǁŝůůŝŵƉƌŽǀĞĐŽŵŵƵŶŝĐĂƚŝŽŶ͕ĞĨĨŝĐŝĞŶĐLJ͕ĂŶĚ ƉƌŽĚƵĐƚŝǀŝƚLJĨŽƌĂůůƉĂƌƚŝĞƐ͘dŚĞƵƐĞŽĨWƌŽĐŽƌĞĨŽƌƉƌŽũĞĐƚŵĂŶĂŐĞŵĞŶƚĚŽĞƐŶŽƚƌĞůŝĞǀĞƚŚĞĐŽŶƚƌĂĐƚŽƌŽĨ ĂŶLJŽƚŚĞƌƌĞƋƵŝƌĞŵĞŶƚƐĂƐŵĂLJďĞƐƉĞĐŝĨŝĞĚŝŶƚŚĞĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƐ͘ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϯ ϴ͘ ^ddh^K&KEdZdKZ ŽŶƚƌĂĐƚŽƌǁŝůůƉĞƌĨŽƌŵƚŚĞ^ĞƌǀŝĐĞƐŝŶŽŶƚƌĂĐƚŽƌ͛ƐŽǁŶǁĂLJĂƐĂŶŝŶĚĞƉĞŶĚĞŶƚĐŽŶƚƌĂĐƚŽƌĂŶĚŝŶƉƵƌƐƵŝƚ ŽĨŽŶƚƌĂĐƚŽƌ͛ƐŝŶĚĞƉĞŶĚĞŶƚĐĂůůŝŶŐ͕ĂŶĚŶŽƚĂƐĂŶĞŵƉůŽLJĞĞŽĨŝƚLJ͘ŽŶƚƌĂĐƚŽƌǁŝůůďĞƵŶĚĞƌĐŽŶƚƌŽůŽĨ ŝƚLJŽŶůLJĂƐƚŽƚŚĞƌĞƐƵůƚƚŽďĞĂĐĐŽŵƉůŝƐŚĞĚ͕ďƵƚǁŝůůĐŽŶƐƵůƚǁŝƚŚŝƚLJĂƐŶĞĐĞƐƐĂƌLJ͘dŚĞƉĞƌƐŽŶƐƵƐĞĚďLJ ŽŶƚƌĂĐƚŽƌƚŽƉƌŽǀŝĚĞƐĞƌǀŝĐĞƐƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůŶŽƚďĞĐŽŶƐŝĚĞƌĞĚĞŵƉůŽLJĞĞƐŽĨŝƚLJĨŽƌĂŶLJ ƉƵƌƉŽƐĞƐ͘ dŚĞƉĂLJŵĞŶƚŵĂĚĞƚŽŽŶƚƌĂĐƚŽƌƉƵƌƐƵĂŶƚƚŽƚŚĞŐƌĞĞŵĞŶƚǁŝůůďĞƚŚĞĨƵůůĂŶĚĐŽŵƉůĞƚĞĐŽŵƉĞŶƐĂƚŝŽŶ ƚŽǁŚŝĐŚŽŶƚƌĂĐƚŽƌŝƐĞŶƚŝƚůĞĚ͘ŝƚLJǁŝůůŶŽƚŵĂŬĞĂŶLJĨĞĚĞƌĂůŽƌƐƚĂƚĞƚĂdžǁŝƚŚŚŽůĚŝŶŐƐŽŶďĞŚĂůĨŽĨ ŽŶƚƌĂĐƚŽƌŽƌŝƚƐĂŐĞŶƚƐ͕ĞŵƉůŽLJĞĞƐŽƌƐƵďĐŽŶƚƌĂĐƚŽƌƐ͘ŝƚLJǁŝůůŶŽƚďĞƌĞƋƵŝƌĞĚƚŽƉĂLJĂŶLJǁŽƌŬĞƌƐ͛ ĐŽŵƉĞŶƐĂƚŝŽŶŝŶƐƵƌĂŶĐĞŽƌƵŶĞŵƉůŽLJŵĞŶƚĐŽŶƚƌŝďƵƚŝŽŶƐŽŶďĞŚĂůĨŽĨŽŶƚƌĂĐƚŽƌŽƌŝƚƐĞŵƉůŽLJĞĞƐŽƌ ƐƵďĐŽŶƚƌĂĐƚŽƌƐ͘ ŽŶƚƌĂĐƚŽƌ ĂŐƌĞĞƐ ƚŽ ŝŶĚĞŵŶŝĨLJ ŝƚLJ ǁŝƚŚŝŶ ƚŚŝƌƚLJ;ϯϬͿĚĂLJƐĨŽƌĂŶLJƚĂdž͕ƌĞƚŝƌĞŵĞŶƚ ĐŽŶƚƌŝďƵƚŝŽŶ͕ ƐŽĐŝĂů ƐĞĐƵƌŝƚLJ͕ŽǀĞƌƚŝŵĞ ƉĂLJŵĞŶƚ͕ ƵŶĞŵƉůŽLJŵĞŶƚ ƉĂLJŵĞŶƚŽƌǁŽƌŬĞƌƐ͛ĐŽŵƉĞŶƐĂƚŝŽŶ ƉĂLJŵĞŶƚǁŚŝĐŚŝƚLJŵĂLJďĞƌĞƋƵŝƌĞĚƚŽŵĂŬĞŽŶďĞŚĂůĨŽĨŽŶƚƌĂĐƚŽƌŽƌĂŶLJĂŐĞŶƚ͕ĞŵƉůŽLJĞĞ͕Žƌ ƐƵďĐŽŶƚƌĂĐƚŽƌŽĨŽŶƚƌĂĐƚŽƌĨŽƌǁŽƌŬĚŽŶĞƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͘ƚƚŚĞŝƚLJ͛ƐĞůĞĐƚŝŽŶ͕ŝƚLJŵĂLJĚĞĚƵĐƚ ƚŚĞŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶĂŵŽƵŶƚĨƌŽŵĂŶLJďĂůĂŶĐĞŽǁŝŶŐƚŽŽŶƚƌĂĐƚŽƌ͘ ϵ͘ ^hKEdZd/E' ŽŶƚƌĂĐƚŽƌǁŝůůŶŽƚƐƵďĐŽŶƚƌĂĐƚĂŶLJƉŽƌƚŝŽŶŽĨƚŚĞ^ĞƌǀŝĐĞƐǁŝƚŚŽƵƚƉƌŝŽƌǁƌŝƚƚĞŶĂƉƉƌŽǀĂůŽĨŝƚLJ͘/Ĩ ŽŶƚƌĂĐƚŽƌƐƵďĐŽŶƚƌĂĐƚƐĂŶLJŽĨƚŚĞ^ĞƌǀŝĐĞƐ͕ŽŶƚƌĂĐƚŽƌǁŝůůďĞĨƵůůLJƌĞƐƉŽŶƐŝďůĞƚŽŝƚLJĨŽƌƚŚĞĂĐƚƐĂŶĚ ŽŵŝƐƐŝŽŶƐŽĨŽŶƚƌĂĐƚŽƌ͛ƐƐƵďĐŽŶƚƌĂĐƚŽƌĂŶĚŽĨƚŚĞƉĞƌƐŽŶƐĞŝƚŚĞƌĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJĞŵƉůŽLJĞĚďLJƚŚĞ ƐƵďĐŽŶƚƌĂĐƚŽƌ͕ĂƐŽŶƚƌĂĐƚŽƌŝƐĨŽƌƚŚĞĂĐƚƐĂŶĚŽŵŝƐƐŝŽŶƐŽĨƉĞƌƐŽŶƐĚŝƌĞĐƚůLJĞŵƉůŽLJĞĚďLJŽŶƚƌĂĐƚŽƌ͘ EŽƚŚŝŶŐĐŽŶƚĂŝŶĞĚŝŶƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůĐƌĞĂƚĞĂŶLJĐŽŶƚƌĂĐƚƵĂůƌĞůĂƚŝŽŶƐŚŝƉďĞƚǁĞĞŶĂŶLJƐƵďĐŽŶƚƌĂĐƚŽƌ ŽĨŽŶƚƌĂĐƚŽƌĂŶĚŝƚLJ͘ŽŶƚƌĂĐƚŽƌǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƉĂLJŵĞŶƚŽĨƐƵďĐŽŶƚƌĂĐƚŽƌƐ͘ŽŶƚƌĂĐƚŽƌǁŝůůďŝŶĚ ĞǀĞƌLJ ƐƵďĐŽŶƚƌĂĐƚŽƌ ĂŶĚ ĞǀĞƌLJ ƐƵďĐŽŶƚƌĂĐƚŽƌ ŽĨ Ă ƐƵďĐŽŶƚƌĂĐƚŽƌďLJƚŚĞƚĞƌŵƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ ĂƉƉůŝĐĂďůĞƚŽŽŶƚƌĂĐƚŽƌ͛ƐǁŽƌŬƵŶůĞƐƐƐƉĞĐŝĨŝĐĂůůLJŶŽƚĞĚƚŽƚŚĞĐŽŶƚƌĂƌLJŝŶƚŚĞƐƵďĐŽŶƚƌĂĐƚĂŶĚĂƉƉƌŽǀĞĚ ŝŶǁƌŝƚŝŶŐďLJŝƚLJ͘ ϭϬ͘ Kd, ZKEdZdKZ^ dŚĞŝƚLJƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽĞŵƉůŽLJŽƚŚĞƌŽŶƚƌĂĐƚŽƌƐŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞ^ĞƌǀŝĐĞƐ͘ ϭϭ͘ /E DE/&/d/KE ŽŶƚƌĂĐƚŽƌĂŐƌĞĞƐƚŽĚĞĨĞŶĚ;ǁŝƚŚĐŽƵŶƐĞůĂƉƉƌŽǀĞĚďLJƚŚĞŝƚLJͿ͕ŝŶĚĞŵŶŝĨLJ͕ĂŶĚŚŽůĚŚĂƌŵůĞƐƐƚŚĞŝƚLJ ĂŶĚŝƚƐŽĨĨŝĐĞƌƐ͕ĞůĞĐƚĞĚĂŶĚĂƉƉŽŝŶƚĞĚŽĨĨŝĐŝĂůƐ͕ĞŵƉůŽLJĞĞƐĂŶĚǀŽůƵŶƚĞĞƌƐĨƌŽŵĂŶĚĂŐĂŝŶƐƚĂůůĐůĂŝŵƐ͕ ĚĂŵĂŐĞƐ͕ůŽƐƐĞƐĂŶĚĞdžƉĞŶƐĞƐŝŶĐůƵĚŝŶŐĂƚƚŽƌŶĞLJ͛ƐĨĞĞƐĂƌŝƐŝŶŐŽƵƚŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞǁŽƌŬ ĚĞƐĐƌŝďĞĚŚĞƌĞŝŶĐĂƵƐĞĚďLJĂŶLJŶĞŐůŝŐĞŶĐĞ͕ƌĞĐŬůĞƐƐŶĞƐƐ͕ŽƌǁŝůůĨƵůŵŝƐĐŽŶĚƵĐƚŽĨƚŚĞŽŶƚƌĂĐƚŽƌ͕ĂŶLJ ƐƵďĐŽŶƚƌĂĐƚŽƌ͕ĂŶLJŽŶĞĚŝƌĞĐƚůLJŽƌŝŶĚŝƌĞĐƚůLJĞŵƉůŽLJĞĚďLJĂŶLJŽĨƚŚĞŵŽƌĂŶLJŽŶĞĨŽƌǁŚŽƐĞĂĐƚƐĂŶLJŽĨ ƚŚĞŵŵĂLJďĞůŝĂďůĞ͘ /Ĩ ŽŶƚƌĂĐƚŽƌ͛Ɛ ŽďůŝŐĂƚŝŽŶ ƚŽ ĚĞĨĞŶĚ͕ ŝŶĚĞŵŶŝĨLJ͕ ĂŶĚͬŽƌ ŚŽůĚ ŚĂƌŵůĞƐƐ ĂƌŝƐĞƐ ŽƵƚ ŽĨ ŽŶƚƌĂĐƚŽƌ͛Ɛ ƉĞƌĨŽƌŵĂŶĐĞĂƐĂ͞ĚĞƐŝŐŶƉƌŽĨĞƐƐŝŽŶĂů͟;ĂƐƚŚĂƚƚĞƌŵŝƐĚĞĨŝŶĞĚƵŶĚĞƌŝǀŝůŽĚĞƐĞĐƚŝŽŶϮϳϴϮ͘ϴͿ͕ƚŚĞŶ͕ ĂŶĚ ŽŶůLJ ƚŽ ƚŚĞ ĞdžƚĞŶƚ ƌĞƋƵŝƌĞĚ ďLJ ŝǀŝů ŽĚĞ ^ĞĐƚŝŽŶ ϮϳϴϮ͘ϴ͕ ǁŚŝĐŚ ŝƐ ĨƵůůLJ ŝŶĐŽƌƉŽƌĂƚĞĚ ŚĞƌĞŝŶ͕ ŽŶƚƌĂĐƚŽƌ͛ƐŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶŽďůŝŐĂƚŝŽŶƐŚĂůůďĞůŝŵŝƚĞĚƚŽĐůĂŝŵƐƚŚĂƚĂƌŝƐĞŽƵƚŽĨ͕ƉĞƌƚĂŝŶƚŽ͕ŽƌƌĞůĂƚĞƚŽ ƚŚĞŶĞŐůŝŐĞŶĐĞ͕ƌĞĐŬůĞƐƐŶĞƐƐ͕ŽƌǁŝůůĨƵůŵŝƐĐŽŶĚƵĐƚŽĨƚŚĞŽŶƚƌĂĐƚŽƌ͕ĂŶĚ͕ƵƉŽŶŽŶƚƌĂĐƚŽƌŽďƚĂŝŶŝŶŐĂ ĨŝŶĂůĂĚũƵĚŝĐĂƚŝŽŶďLJĂĐŽƵƌƚŽĨĐŽŵƉĞƚĞŶƚũƵƌŝƐĚŝĐƚŝŽŶ͘ŽŶƚƌĂĐƚŽƌ͛ƐůŝĂďŝůŝƚLJĨŽƌƐƵĐŚĐůĂŝŵ͕ŝŶĐůƵĚŝŶŐƚŚĞ ĐŽƐƚƚŽĚĞĨĞŶĚ͕ƐŚĂůůŶŽƚĞdžĐĞĞĚƚŚĞŽŶƚƌĂĐƚŽƌ͛ƐƉƌŽƉŽƌƚŝŽŶĂƚĞƉĞƌĐĞŶƚĂŐĞŽĨĨĂƵůƚ͘ dŚĞƉĂƌƚŝĞƐĞdžƉƌĞƐƐůLJĂŐƌĞĞƚŚĂƚĂŶLJƉĂLJŵĞŶƚ͕ĂƚƚŽƌŶĞLJ͛ƐĨĞĞ͕ĐŽƐƚƐŽƌĞdžƉĞŶƐĞŝƚLJŝŶĐƵƌƐŽƌŵĂŬĞƐƚŽŽƌ ŽŶďĞŚĂůĨŽĨĂŶŝŶũƵƌĞĚĞŵƉůŽLJĞĞƵŶĚĞƌƚŚĞŝƚLJ͛ƐƐĞůĨͲĂĚŵŝŶŝƐƚĞƌĞĚǁŽƌŬĞƌƐ͛ĐŽŵƉĞŶƐĂƚŝŽŶŝƐŝŶĐůƵĚĞĚĂƐ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϰ ĂůŽƐƐ͕ĞdžƉĞŶƐĞŽƌĐŽƐƚĨŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƚŚŝƐƐĞĐƚŝŽŶ͕ĂŶĚƚŚĂƚƚŚŝƐƐĞĐƚŝŽŶǁŝůůƐƵƌǀŝǀĞƚŚĞĞdžƉŝƌĂƚŝŽŶŽƌ ĞĂƌůLJƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϭϮ͘ /E^hZE ŽŶƚƌĂĐƚŽƌǁŝůůŽďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶĨŽƌƚŚĞĚƵƌĂƚŝŽŶŽĨƚŚĞŐƌĞĞŵĞŶƚĂŶĚĂŶLJĂŶĚĂůůĂŵĞŶĚŵĞŶƚƐ͕ ŝŶƐƵƌĂŶĐĞĂŐĂŝŶƐƚĐůĂŝŵƐĨŽƌŝŶũƵƌŝĞƐƚŽƉĞƌƐŽŶƐŽƌĚĂŵĂŐĞƚŽƉƌŽƉĞƌƚLJǁŚŝĐŚŵĂLJĂƌŝƐĞŽƵƚŽĨŽƌŝŶ ĐŽŶŶĞĐƚŝŽŶǁŝƚŚƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞƐĞƌǀŝĐĞƐďLJŽŶƚƌĂĐƚŽƌŽƌŽŶƚƌĂĐƚŽƌ͛ƐĂŐĞŶƚƐ͕ƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͕ ĞŵƉůŽLJĞĞƐŽƌƐƵďĐŽŶƚƌĂĐƚŽƌƐ͘dŚĞŝŶƐƵƌĂŶĐĞǁŝůůďĞŽďƚĂŝŶĞĚĨƌŽŵĂŶŝŶƐƵƌĂŶĐĞĐĂƌƌŝĞƌĂĚŵŝƚƚĞĚĂŶĚ ĂƵƚŚŽƌŝnjĞĚƚŽĚŽďƵƐŝŶĞƐƐŝŶƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘dŚĞŝŶƐƵƌĂŶĐĞĐĂƌƌŝĞƌŝƐƌĞƋƵŝƌĞĚƚŽŚĂǀĞĂĐƵƌƌĞŶƚ ĞƐƚ͛Ɛ<ĞLJZĂƚŝŶŐŽĨŶŽƚůĞƐƐƚŚĂŶ͞Ͳ͗s//͖͟KZǁŝƚŚĂƐƵƌƉůƵƐůŝŶĞŝŶƐƵƌĞƌŽŶƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͛Ɛ>ŝƐƚŽĨ ƉƉƌŽǀĞĚ^ƵƌƉůƵƐ>ŝŶĞ/ŶƐƵƌĞƌƐ;>^>/ͿǁŝƚŚĂƌĂƚŝŶŐŝŶƚŚĞůĂƚĞƐƚĞƐƚ͛Ɛ<ĞLJZĂƚŝŶŐ'ƵŝĚĞŽĨĂƚůĞĂƐƚ͗͞y͖͟ KZĂŶĂůŝĞŶŶŽŶͲĂĚŵŝƚƚĞĚŝŶƐƵƌĞƌůŝƐƚĞĚďLJƚŚĞEĂƚŝŽŶĂůƐƐŽĐŝĂƚŝŽŶŽĨ/ŶƐƵƌĂŶĐĞŽŵŵŝƐƐŝŽŶĞƌƐ;E/Ϳ ůĂƚĞƐƚƋƵĂƌƚĞƌůLJůŝƐƚŝŶŐƐƌĞƉŽƌƚ͘ ϭϮ͘ϭ ŽǀĞƌĂŐĞƐ ĂŶĚ >ŝŵŝƚƐ͘ ŽŶƚƌĂĐƚŽƌ ǁŝůů ŵĂŝŶƚĂŝŶ ƚŚĞ ƚLJƉĞƐ ŽĨ ĐŽǀĞƌĂŐĞƐ ĂŶĚ ŵŝŶŝŵƵŵ ůŝŵŝƚƐ ŝŶĚŝĐĂƚĞĚ ďĞůŽǁ͕ ƵŶůĞƐƐ ZŝƐŬ DĂŶĂŐĞƌ Žƌ ŝƚLJ DĂŶĂŐĞƌ ĂƉƉƌŽǀĞƐ Ă ůŽǁĞƌ ĂŵŽƵŶƚ͘ dŚĞƐĞ ŵŝŶŝŵƵŵ ĂŵŽƵŶƚƐŽĨĐŽǀĞƌĂŐĞǁŝůůŶŽƚĐŽŶƐƚŝƚƵƚĞĂŶLJůŝŵŝƚĂƚŝŽŶƐŽƌĐĂƉŽŶŽŶƚƌĂĐƚŽƌ͛ƐŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶŽďůŝŐĂƚŝŽŶƐ ƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͘ŝƚLJ͕ŝƚƐŽĨĨŝĐĞƌƐ͕ĂŐĞŶƚƐĂŶĚĞŵƉůŽLJĞĞƐŵĂŬĞŶŽƌĞƉƌĞƐĞŶƚĂƚŝŽŶƚŚĂƚƚŚĞůŝŵŝƚƐŽĨ ƚŚĞŝŶƐƵƌĂŶĐĞƐƉĞĐŝĨŝĞĚƚŽďĞĐĂƌƌŝĞĚďLJŽŶƚƌĂĐƚŽƌƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚĂƌĞĂĚĞƋƵĂƚĞƚŽƉƌŽƚĞĐƚ ŽŶƚƌĂĐƚŽƌ͘/ĨŽŶƚƌĂĐƚŽƌďĞůŝĞǀĞƐƚŚĂƚĂŶLJƌĞƋƵŝƌĞĚŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞŝƐŝŶĂĚĞƋƵĂƚĞ͕ŽŶƚƌĂĐƚŽƌǁŝůů ŽďƚĂŝŶƐƵĐŚĂĚĚŝƚŝŽŶĂůŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞ͕ĂƐŽŶƚƌĂĐƚŽƌĚĞĞŵƐĂĚĞƋƵĂƚĞ͕ĂƚŽŶƚƌĂĐƚŽƌ͛ƐƐŽůĞĞdžƉĞŶƐĞ͘ dŚĞĨƵůůůŝŵŝƚƐĂǀĂŝůĂďůĞƚŽƚŚĞŶĂŵĞĚŝŶƐƵƌĞĚƐŚĂůůĂůƐŽďĞĂǀĂŝůĂďůĞĂŶĚĂƉƉůŝĐĂďůĞƚŽƚŚĞŝƚLJĂƐĂŶ ĂĚĚŝƚŝŽŶĂůŝŶƐƵƌĞĚ͘ ϭϮ͘ϭ͘ϭ ŽŵŵĞƌĐŝĂů'ĞŶĞƌĂů>ŝĂďŝůŝƚLJ;'>Ϳ/ŶƐƵƌĂŶĐĞ͘/ŶƐƵƌĂŶĐĞǁƌŝƚƚĞŶŽŶĂŶ͞ŽĐĐƵƌƌĞŶĐĞ͟ďĂƐŝƐ͕ ŝŶĐůƵĚŝŶŐƉĞƌƐŽŶĂůΘĂĚǀĞƌƚŝƐŝŶŐŝŶũƵƌLJ͕ǁŝƚŚůŝŵŝƚƐŶŽůĞƐƐƚŚĂŶΨϮ͕ϬϬϬ͕ϬϬϬƉĞƌŽĐĐƵƌƌĞŶĐĞ͘/ĨĂŐĞŶĞƌĂů ĂŐŐƌĞŐĂƚĞůŝŵŝƚĂƉƉůŝĞƐ͕ĞŝƚŚĞƌƚŚĞŐĞŶĞƌĂůĂŐŐƌĞŐĂƚĞůŝŵŝƚƐŚĂůůĂƉƉůLJƐĞƉĂƌĂƚĞůLJƚŽƚŚŝƐƉƌŽũĞĐƚͬůŽĐĂƚŝŽŶ ŽƌƚŚĞŐĞŶĞƌĂůĂŐŐƌĞŐĂƚĞůŝŵŝƚƐŚĂůůďĞƚǁŝĐĞƚŚĞƌĞƋƵŝƌĞĚŽĐĐƵƌƌĞŶĐĞůŝŵŝƚ͘ ϭϮ͘ϭ͘Ϯ ƵƚŽŵŽďŝůĞ>ŝĂďŝůŝƚLJ͘;ŝĨƚŚĞƵƐĞŽĨĂŶĂƵƚŽŵŽďŝůĞŝƐŝŶǀŽůǀĞĚĨŽƌŽŶƚƌĂĐƚŽƌ͛ƐǁŽƌŬĨŽƌ ŝƚLJͿ͘ΨϮ͕ϬϬϬ͕ϬϬϬĐŽŵďŝŶĞĚƐŝŶŐůĞͲůŝŵŝƚƉĞƌĂĐĐŝĚĞŶƚĨŽƌďŽĚŝůLJŝŶũƵƌLJĂŶĚƉƌŽƉĞƌƚLJĚĂŵĂŐĞ͘ ϭϮ͘ϭ͘ϯ tŽƌŬĞƌƐ͛ ŽŵƉĞŶƐĂƚŝŽŶ ĂŶĚ ŵƉůŽLJĞƌ͛Ɛ >ŝĂďŝůŝƚLJ͘ tŽƌŬĞƌƐ͛ ŽŵƉĞŶƐĂƚŝŽŶ ůŝŵŝƚƐ ĂƐ ƌĞƋƵŝƌĞĚďLJƚŚĞĂůŝĨŽƌŶŝĂ>ĂďŽƌŽĚĞ͘tŽƌŬĞƌƐ͛ŽŵƉĞŶƐĂƚŝŽŶǁŝůůŶŽƚďĞƌĞƋƵŝƌĞĚŝĨŽŶƚƌĂĐƚŽƌŚĂƐŶŽ ĞŵƉůŽLJĞĞƐĂŶĚƉƌŽǀŝĚĞƐ͕ƚŽŝƚLJ͛ƐƐĂƚŝƐĨĂĐƚŝŽŶ͕ĂĚĞĐůĂƌĂƚŝŽŶƐƚĂƚŝŶŐƚŚŝƐ͘ ϭϮ͘ϭ͘ϰ WƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚLJ͘ ƌƌŽƌƐĂŶĚŽŵŝƐƐŝŽŶƐůŝĂďŝůŝƚLJĂƉƉƌŽƉƌŝĂƚĞƚŽŽŶƚƌĂĐƚŽƌ͛ƐƉƌŽĨĞƐƐŝŽŶ ǁŝƚŚůŝŵŝƚƐŽĨŶŽƚůĞƐƐƚŚĂŶΨϭ͕ϬϬϬ͕ϬϬϬƉĞƌĐůĂŝŵ͘ŽǀĞƌĂŐĞŵƵƐƚďĞŵĂŝŶƚĂŝŶĞĚĨŽƌĂƉĞƌŝŽĚŽĨĨŝǀĞLJĞĂƌƐ ĨŽůůŽǁŝŶŐƚŚĞĚĂƚĞŽĨĐŽŵƉůĞƚŝŽŶŽĨƚŚĞǁŽƌŬ͘ ϭϮ͘Ϯ ĚĚŝƚŝŽŶĂůWƌŽǀŝƐŝŽŶƐ͘ŽŶƚƌĂĐƚŽƌǁŝůůĞŶƐƵƌĞƚŚĂƚƚŚĞƉŽůŝĐŝĞƐŽĨŝŶƐƵƌĂŶĐĞƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐ ŐƌĞĞŵĞŶƚĐŽŶƚĂŝŶ͕ŽƌĂƌĞĞŶĚŽƌƐĞĚƚŽĐŽŶƚĂŝŶ͕ƚŚĞĨŽůůŽǁŝŶŐƉƌŽǀŝƐŝŽŶƐ͗ ϭϮ͘Ϯ͘ϭ dŚĞŝƚLJǁŝůůďĞŶĂŵĞĚĂƐĂŶĂĚĚŝƚŝŽŶĂůŝŶƐƵƌĞĚŽŶŽŵŵĞƌĐŝĂů'ĞŶĞƌĂů>ŝĂďŝůŝƚLJǁŚŝĐŚ ƐŚĂůůƉƌŽǀŝĚĞƉƌŝŵĂƌLJĐŽǀĞƌĂŐĞƚŽƚŚĞŝƚLJ͘ ϭϮ͘Ϯ͘Ϯ ŽŶƚƌĂĐƚŽƌǁŝůůŽďƚĂŝŶŽĐĐƵƌƌĞŶĐĞĐŽǀĞƌĂŐĞ͕ĞdžĐůƵĚŝŶŐWƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚLJ͕ǁŚŝĐŚǁŝůůďĞ ǁƌŝƚƚĞŶĂƐĐůĂŝŵƐͲŵĂĚĞĐŽǀĞƌĂŐĞ͘ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϱ ϭϮ͘Ϯ͘ϯ /ĨŽŶƚƌĂĐƚŽƌŵĂŝŶƚĂŝŶƐŚŝŐŚĞƌůŝŵŝƚƐƚŚĂŶƚŚĞŵŝŶŝŵƵŵƐƐŚŽǁŶĂďŽǀĞ͕ƚŚĞŝƚLJƌĞƋƵŝƌĞƐ ĂŶĚǁŝůůďĞĞŶƚŝƚůĞĚƚŽĐŽǀĞƌĂŐĞĨŽƌƚŚĞŚŝŐŚĞƌůŝŵŝƚƐŵĂŝŶƚĂŝŶĞĚďLJŽŶƚƌĂĐƚŽƌ͘ŶLJĂǀĂŝůĂďůĞŝŶƐƵƌĂŶĐĞ ƉƌŽĐĞĞĚƐŝŶĞdžĐĞƐƐŽĨƚŚĞƐƉĞĐŝĨŝĞĚŵŝŶŝŵƵŵůŝŵŝƚƐŽĨŝŶƐƵƌĂŶĐĞĂŶĚĐŽǀĞƌĂŐĞǁŝůůďĞĂǀĂŝůĂďůĞƚŽƚŚĞŝƚLJ͘ ϭϮ͘Ϯ͘ϰ dŚŝƐŝŶƐƵƌĂŶĐĞǁŝůůďĞŝŶĨŽƌĐĞĚƵƌŝŶŐƚŚĞůŝĨĞŽĨƚŚĞŐƌĞĞŵĞŶƚĂŶĚĂŶLJĞdžƚĞŶƐŝŽŶƐŽĨŝƚ ĂŶĚǁŝůůŶŽƚďĞĐĂŶĐĞůĞĚǁŝƚŚŽƵƚƚŚŝƌƚLJ;ϯϬͿĚĂLJƐƉƌŝŽƌǁƌŝƚƚĞŶŶŽƚŝĐĞƚŽŝƚLJƐĞŶƚďLJĐĞƌƚŝĨŝĞĚŵĂŝůƉƵƌƐƵĂŶƚ ƚŽƚŚĞEŽƚŝĐĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϭϮ͘ϯ WƌŽǀŝĚŝŶŐĞƌƚŝĨŝĐĂƚĞƐŽĨ/ŶƐƵƌĂŶĐĞĂŶĚ ŶĚŽƌƐĞŵĞŶƚƐ͘WƌŝŽƌƚŽŝƚLJ͛ƐĞdžĞĐƵƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ ŽŶƚƌĂĐƚŽƌǁŝůůĨƵƌŶŝƐŚĐĞƌƚŝĨŝĐĂƚĞƐŽĨŝŶƐƵƌĂŶĐĞĂŶĚĞŶĚŽƌƐĞŵĞŶƚƐƚŽŝƚLJ͘ ϭϮ͘ϰ &ĂŝůƵƌĞƚŽDĂŝŶƚĂŝŶŽǀĞƌĂŐĞ͘/ĨŽŶƚƌĂĐƚŽƌĨĂŝůƐƚŽŵĂŝŶƚĂŝŶĂŶLJŽĨƚŚĞƐĞŝŶƐƵƌĂŶĐĞĐŽǀĞƌĂŐĞƐ͕ ƚŚĞŶŝƚLJǁŝůůŚĂǀĞƚŚĞŽƉƚŝŽŶƚŽĚĞĐůĂƌĞŽŶƚƌĂĐƚŽƌŝŶďƌĞĂĐŚ͕ŽƌŵĂLJƉƵƌĐŚĂƐĞƌĞƉůĂĐĞŵĞŶƚŝŶƐƵƌĂŶĐĞŽƌ ƉĂLJƚŚĞƉƌĞŵŝƵŵƐƚŚĂƚĂƌĞĚƵĞŽŶĞdžŝƐƚŝŶŐƉŽůŝĐŝĞƐŝŶŽƌĚĞƌƚŽŵĂŝŶƚĂŝŶƚŚĞƌĞƋƵŝƌĞĚĐŽǀĞƌĂŐĞƐ͘ŽŶƚƌĂĐƚŽƌ ŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌĂŶLJƉĂLJŵĞŶƚƐŵĂĚĞďLJŝƚLJƚŽŽďƚĂŝŶŽƌŵĂŝŶƚĂŝŶŝŶƐƵƌĂŶĐĞĂŶĚŝƚLJŵĂLJĐŽůůĞĐƚƚŚĞƐĞ ƉĂLJŵĞŶƚƐ ĨƌŽŵ ŽŶƚƌĂĐƚŽƌ Žƌ ĚĞĚƵĐƚ ƚŚĞ ĂŵŽƵŶƚ ƉĂŝĚ ĨƌŽŵ ĂŶLJ ƐƵŵƐ ĚƵĞ ŽŶƚƌĂĐƚŽƌ ƵŶĚĞƌ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ ϭϮ͘ϱ^ƵďŵŝƐƐŝŽŶŽĨ/ŶƐƵƌĂŶĐĞWŽůŝĐŝĞƐ͘ŝƚLJƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽƌĞƋƵŝƌĞ͕ĂƚĂŶLJƚŝŵĞ͕ĐŽŵƉůĞƚĞĂŶĚ ĐĞƌƚŝĨŝĞĚĐŽƉŝĞƐŽĨĂŶLJŽƌĂůůƌĞƋƵŝƌĞĚŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐĂŶĚĞŶĚŽƌƐĞŵĞŶƚƐ͘ ϭϯ͘ h^/E ^^>/ E^ ŽŶƚƌĂĐƚŽƌǁŝůůŽďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶĂŝƚLJŽĨĂƌůƐďĂĚƵƐŝŶĞƐƐ>ŝĐĞŶƐĞĨŽƌƚŚĞƚĞƌŵŽĨƚŚĞŐƌĞĞŵĞŶƚ͕ĂƐ ŵĂLJďĞĂŵĞŶĚĞĚĨƌŽŵƚŝŵĞͲƚŽͲƚŝŵĞ͘ ϭϰ͘ KhEd/E'Z KZ^ ŽŶƚƌĂĐƚŽƌǁŝůůŵĂŝŶƚĂŝŶĐŽŵƉůĞƚĞĂŶĚĂĐĐƵƌĂƚĞƌĞĐŽƌĚƐǁŝƚŚƌĞƐƉĞĐƚ ƚŽ ĐŽƐƚƐ ŝŶĐƵƌƌĞĚ ƵŶĚĞƌ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ůůƌĞĐŽƌĚƐǁŝůůďĞĐůĞĂƌůLJŝĚĞŶƚŝĨŝĂďůĞ͘ŽŶƚƌĂĐƚŽƌǁŝůůĂůůŽǁĂƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽĨŝƚLJĚƵƌŝŶŐ ŶŽƌŵĂůďƵƐŝŶĞƐƐŚŽƵƌƐƚŽĞdžĂŵŝŶĞ͕ĂƵĚŝƚ͕ĂŶĚŵĂŬĞƚƌĂŶƐĐƌŝƉƚƐŽƌĐŽƉŝĞƐŽĨƌĞĐŽƌĚƐĂŶĚĂŶLJŽƚŚĞƌ ĚŽĐƵŵĞŶƚƐ ĐƌĞĂƚĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ ŽŶƚƌĂĐƚŽƌ ǁŝůů ĂůůŽǁ ŝŶƐƉĞĐƚŝŽŶ ŽĨ Ăůů ǁŽƌŬ͕ ĚĂƚĂ͕ ĚŽĐƵŵĞŶƚƐ͕ƉƌŽĐĞĞĚŝŶŐƐ͕ĂŶĚĂĐƚŝǀŝƚŝĞƐƌĞůĂƚĞĚƚŽƚŚĞŐƌĞĞŵĞŶƚĨŽƌĂƉĞƌŝŽĚŽĨĨŽƵƌ;ϰͿLJĞĂƌƐĨƌŽŵƚŚĞ ĚĂƚĞŽĨĨŝŶĂůƉĂLJŵĞŶƚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϭϱ͘ KtE Z^,/WK&KhD Ed^ ůůǁŽƌŬƉƌŽĚƵĐƚƉƌŽĚƵĐĞĚďLJŽŶƚƌĂĐƚŽƌŽƌŝƚƐĂŐĞŶƚƐ͕ĞŵƉůŽLJĞĞƐ͕ĂŶĚƐƵďĐŽŶƚƌĂĐƚŽƌƐƉƵƌƐƵĂŶƚƚŽƚŚŝƐ ŐƌĞĞŵĞŶƚŝƐƚŚĞƉƌŽƉĞƌƚLJŽĨŝƚLJ͘/ŶƚŚĞĞǀĞŶƚƚŚŝƐŐƌĞĞŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚ͕ĂůůǁŽƌŬƉƌŽĚƵĐƚƉƌŽĚƵĐĞĚ ďLJŽŶƚƌĂĐƚŽƌŽƌŝƚƐĂŐĞŶƚƐ͕ĞŵƉůŽLJĞĞƐĂŶĚƐƵďĐŽŶƚƌĂĐƚŽƌƐƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůďĞĚĞůŝǀĞƌĞĚ ĂƚŽŶĐĞƚŽŝƚLJ͘ŽŶƚƌĂĐƚŽƌǁŝůůŚĂǀĞƚŚĞƌŝŐŚƚƚŽŵĂŬĞŽŶĞ;ϭͿĐŽƉLJŽĨƚŚĞǁŽƌŬƉƌŽĚƵĐƚĨŽƌŽŶƚƌĂĐƚŽƌ͛Ɛ ƌĞĐŽƌĚƐ͘ ϭϲ͘ KWzZ/',d^ ŽŶƚƌĂĐƚŽƌĂŐƌĞĞƐƚŚĂƚĂůůĐŽƉLJƌŝŐŚƚƐƚŚĂƚĂƌŝƐĞĨƌŽŵƚŚĞƐĞƌǀŝĐĞƐǁŝůůďĞǀĞƐƚĞĚŝŶŝƚLJĂŶĚŽŶƚƌĂĐƚŽƌ ƌĞůŝŶƋƵŝƐŚĞƐĂůůĐůĂŝŵƐƚŽƚŚĞĐŽƉLJƌŝŐŚƚƐŝŶĨĂǀŽƌŽĨŝƚLJ͘ ϭϳ͘ EKd/ ^ dŚĞŶĂŵĞŽĨƚŚĞƉĞƌƐŽŶƐǁŚŽĂƌĞĂƵƚŚŽƌŝnjĞĚƚŽŐŝǀĞǁƌŝƚƚĞŶŶŽƚŝĐĞŽƌƚŽƌĞĐĞŝǀĞǁƌŝƚƚĞŶŶŽƚŝĐĞŽŶďĞŚĂůĨ ŽĨŝƚLJĂŶĚŽŶďĞŚĂůĨŽĨŽŶƚƌĂĐƚŽƌƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚĂƌĞ͗ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϲ &ŽƌŝƚLJ&ŽƌŽŶƚƌĂĐƚŽƌ EĂŵĞ^ƚĞǀĞŶ^ƚĞǁĂƌƚEĂŵĞWĂƚƌŝĐŬEŽůĂŶ dŝƚůĞDƵŶŝĐŝƉĂůWƌŽũĞĐƚƐDĂŶĂŐĞƌdŝƚůĞWƌĞƐŝĚĞŶƚ ĞƉĂƌƚŵĞŶƚWƵďůŝĐtŽƌŬƐĚĚƌĞƐƐϯϭϵϱϵsŝĂƌĂƌĂƚƌŝǀĞ ŝƚLJŽĨĂƌůƐďĂĚŽŶƐĂůů͕ϵϮϬϬϯ ĚĚƌĞƐƐϭϲϯϱ&ĂƌĂĚĂLJǀĞ͘WŚŽŶĞEŽ͘ϴϱϴͲϮϱϰͲϮϵϰϵ ĂƌůƐďĂĚ͕ϵϮϬϬϴ ŵĂŝůWĂƚƌŝĐŬΛŶĞǁĐŝƚLJĐŽŶƐƵůƚŝŶŐ͘ĐŽŵ WŚŽŶĞEŽ͘ϰϰϮͲϯϯϵͲϮϵϯϴ ĂĐŚƉĂƌƚLJǁŝůůŶŽƚŝĨLJƚŚĞŽƚŚĞƌŝŵŵĞĚŝĂƚĞůLJŽĨĂŶLJĐŚĂŶŐĞƐŽĨĂĚĚƌĞƐƐƚŚĂƚǁŽƵůĚƌĞƋƵŝƌĞĂŶLJŶŽƚŝĐĞŽƌ ĚĞůŝǀĞƌLJƚŽďĞĚŝƌĞĐƚĞĚƚŽĂŶŽƚŚĞƌĂĚĚƌĞƐƐ͘ ϭϴ͘ KE&>/dK&/Ed Z ^d ŽŶƚƌĂĐƚŽƌ ƐŚĂůů ĨŝůĞ Ă ŽŶĨůŝĐƚ ŽĨ /ŶƚĞƌĞƐƚ ^ƚĂƚĞŵĞŶƚ ǁŝƚŚ ƚŚĞ ŝƚLJ ůĞƌŬ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ ƚŚĞ ƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞŝƚLJŽĨĂƌůƐďĂĚŽŶĨůŝĐƚŽĨ/ŶƚĞƌĞƐƚŽĚĞ͘dŚĞŽŶƚƌĂĐƚŽƌƐŚĂůůƌĞƉŽƌƚŝŶǀĞƐƚŵĞŶƚƐŽƌ ŝŶƚĞƌĞƐƚƐĂƐƌĞƋƵŝƌĞĚŝŶƚŚĞŝƚLJŽĨĂƌůƐďĂĚŽŶĨůŝĐƚŽĨ/ŶƚĞƌĞƐƚŽĚĞ͘ zĞƐ܈EŽ܆ /ĨLJĞƐ͕ůŝƐƚƚŚĞĐŽŶƚĂĐƚŝŶĨŽƌŵĂƚŝŽŶďĞůŽǁĨŽƌĂůůŝŶĚŝǀŝĚƵĂůƐƌĞƋƵŝƌĞĚƚŽĨŝůĞ͗ EĂŵĞ ŵĂŝůWŚŽŶĞEƵŵďĞƌ ϭϵ͘ ' E Z>KDW>/E t/d,>t^ ŽŶƚƌĂĐƚŽƌǁŝůůŬĞĞƉĨƵůůLJŝŶĨŽƌŵĞĚŽĨĨĞĚĞƌĂů͕ƐƚĂƚĞĂŶĚůŽĐĂůůĂǁƐĂŶĚŽƌĚŝŶĂŶĐĞƐĂŶĚƌĞŐƵůĂƚŝŽŶƐǁŚŝĐŚ ŝŶĂŶLJŵĂŶŶĞƌĂĨĨĞĐƚƚŚŽƐĞĞŵƉůŽLJĞĚďLJŽŶƚƌĂĐƚŽƌ͕ŽƌŝŶĂŶLJǁĂLJĂĨĨĞĐƚƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞ^ĞƌǀŝĐĞƐ ďLJ ŽŶƚƌĂĐƚŽƌ͘ ŽŶƚƌĂĐƚŽƌ ǁŝůůĂƚ Ăůů ƚŝŵĞƐ ŽďƐĞƌǀĞ ĂŶĚ ĐŽŵƉůLJǁŝƚŚ ƚŚĞƐĞ ůĂǁƐ͕ ŽƌĚŝŶĂŶĐĞƐ͕ ĂŶĚ ƌĞŐƵůĂƚŝŽŶƐĂŶĚǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĐŽŵƉůŝĂŶĐĞŽĨŽŶƚƌĂĐƚŽƌ͛ƐƐĞƌǀŝĐĞƐǁŝƚŚĂůůĂƉƉůŝĐĂďůĞůĂǁƐ͕ ŽƌĚŝŶĂŶĐĞƐĂŶĚƌĞŐƵůĂƚŝŽŶƐ͘ ŽŶƚƌĂĐƚŽƌǁŝůůďĞĂǁĂƌĞŽĨƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚĞ/ŵŵŝŐƌĂƚŝŽŶZĞĨŽƌŵĂŶĚŽŶƚƌŽůĐƚŽĨϭϵϴϲĂŶĚǁŝůů ĐŽŵƉůLJǁŝƚŚƚŚŽƐĞƌĞƋƵŝƌĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ǀĞƌŝĨLJŝŶŐƚŚĞĞůŝŐŝďŝůŝƚLJĨŽƌĞŵƉůŽLJŵĞŶƚŽĨ ĂůůĂŐĞŶƚƐ͕ĞŵƉůŽLJĞĞƐ͕ƐƵďĐŽŶƚƌĂĐƚŽƌƐĂŶĚĐŽŶƐƵůƚĂŶƚƐǁŚŽƐĞƐĞƌǀŝĐĞƐĂƌĞƌĞƋƵŝƌĞĚďLJƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϮϬ͘ >/&KZE//ZZ ^KhZ ^KZ;ZͿsE > E&> d^Z 'h>d/KE^ ŽŶƚƌĂĐƚŽƌ͛ƐǀĞŚŝĐůĞƐǁŝƚŚĂŐƌŽƐƐǀĞŚŝĐůĞǁĞŝŐŚƚƌĂƚŝŶŐŐƌĞĂƚĞƌƚŚĂŶϴ͕ϱϬϬůďƐ͘ĂŶĚůŝŐŚƚͲĚƵƚLJƉĂĐŬĂŐĞ ĚĞůŝǀĞƌLJǀĞŚŝĐůĞƐŽƉĞƌĂƚĞĚŝŶĂůŝĨŽƌŶŝĂŵĂLJďĞƐƵďũĞĐƚƚŽƚŚĞĂůŝĨŽƌŶŝĂŝƌZĞƐŽƵƌĐĞƐŽĂƌĚ;ZͿ ĚǀĂŶĐĞĚůĞĂŶ&ůĞĞƚƐƌĞŐƵůĂƚŝŽŶƐ͘^ƵĐŚǀĞŚŝĐůĞƐŵĂLJƚŚĞƌĞĨŽƌĞďĞƐƵďũĞĐƚƚŽƌĞƋƵŝƌĞŵĞŶƚƐƚŽƌĞĚƵĐĞ ! ! " " W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϳ ĞŵŝƐƐŝŽŶƐŽĨĂŝƌƉŽůůƵƚĂŶƚƐ͘&ŽƌŵŽƌĞŝŶĨŽƌŵĂƚŝŽŶ͕ƉůĞĂƐĞǀŝƐŝƚƚŚĞZĚǀĂŶĐĞĚůĞĂŶ&ůĞĞƚƐǁĞďƉĂŐĞ ĂƚŚƚƚƉƐ͗ͬͬǁǁϮ͘Ăƌď͘ĐĂ͘ŐŽǀͬŽƵƌͲǁŽƌŬͬƉƌŽŐƌĂŵƐͬĂĚǀĂŶĐĞĚͲĐůĞĂŶͲĨůĞĞƚƐ͘ Ϯϭ͘ /^Z/D/Ed/KEE,Z^^D EdWZK,//d ŽŶƚƌĂĐƚŽƌ ǁŝůů ĐŽŵƉůLJ ǁŝƚŚ Ăůů ĂƉƉůŝĐĂďůĞ ůŽĐĂů͕ ƐƚĂƚĞ ĂŶĚ ĨĞĚĞƌĂů ůĂǁƐ ĂŶĚ ƌĞŐƵůĂƚŝŽŶƐ ƉƌŽŚŝďŝƚŝŶŐ ĚŝƐĐƌŝŵŝŶĂƚŝŽŶĂŶĚŚĂƌĂƐƐŵĞŶƚ͘ ϮϮ͘ /^Whd Z ^K>hd/KE /ĨĂĚŝƐƉƵƚĞƐŚŽƵůĚĂƌŝƐĞƌĞŐĂƌĚŝŶŐƚŚĞƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞ^ĞƌǀŝĐĞƐƚŚĞĨŽůůŽǁŝŶŐƉƌŽĐĞĚƵƌĞǁŝůůďĞƵƐĞĚ ƚŽƌĞƐŽůǀĞĂŶLJƋƵĞƐƚŝŽŶƐŽĨĨĂĐƚŽƌŝŶƚĞƌƉƌĞƚĂƚŝŽŶŶŽƚŽƚŚĞƌǁŝƐĞƐĞƚƚůĞĚďLJĂŐƌĞĞŵĞŶƚďĞƚǁĞĞŶƚŚĞƉĂƌƚŝĞƐ͘ ZĞƉƌĞƐĞŶƚĂƚŝǀĞƐŽĨŽŶƚƌĂĐƚŽƌŽƌŝƚLJǁŝůůƌĞĚƵĐĞƐƵĐŚƋƵĞƐƚŝŽŶƐ͕ĂŶĚƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞǀŝĞǁƐ͕ƚŽǁƌŝƚŝŶŐ͘ ĐŽƉLJŽĨƐƵĐŚĚŽĐƵŵĞŶƚĞĚĚŝƐƉƵƚĞǁŝůůďĞĨŽƌǁĂƌĚĞĚƚŽďŽƚŚƉĂƌƚŝĞƐŝŶǀŽůǀĞĚĂůŽŶŐǁŝƚŚƌĞĐŽŵŵĞŶĚĞĚ ŵĞƚŚŽĚƐŽĨƌĞƐŽůƵƚŝŽŶ͕ǁŚŝĐŚǁŽƵůĚďĞŽĨďĞŶĞĨŝƚƚŽďŽƚŚƉĂƌƚŝĞƐ͘dŚĞƌĞƉƌĞƐĞŶƚĂƚŝǀĞƌĞĐĞŝǀŝŶŐƚŚĞůĞƚƚĞƌ ǁŝůůƌĞƉůLJƚŽƚŚĞůĞƚƚĞƌĂůŽŶŐǁŝƚŚĂƌĞĐŽŵŵĞŶĚĞĚŵĞƚŚŽĚŽĨƌĞƐŽůƵƚŝŽŶǁŝƚŚŝŶƚĞŶ;ϭϬͿďƵƐŝŶĞƐƐĚĂLJƐ͘/Ĩ ƚŚĞƌĞƐŽůƵƚŝŽŶƚŚƵƐŽďƚĂŝŶĞĚŝƐƵŶƐĂƚŝƐĨĂĐƚŽƌLJƚŽƚŚĞĂŐŐƌŝĞǀĞĚƉĂƌƚLJ͕ĂůĞƚƚĞƌŽƵƚůŝŶŝŶŐƚŚĞĚŝƐƉƵƚĞƐǁŝůů ďĞĨŽƌǁĂƌĚĞĚƚŽƚŚĞŝƚLJDĂŶĂŐĞƌ͘dŚĞŝƚLJDĂŶĂŐĞƌǁŝůůĐŽŶƐŝĚĞƌƚŚĞĨĂĐƚƐĂŶĚƐŽůƵƚŝŽŶƐƌĞĐŽŵŵĞŶĚĞĚ ďLJĞĂĐŚƉĂƌƚLJĂŶĚŵĂLJƚŚĞŶŽƉƚƚŽĚŝƌĞĐƚĂƐŽůƵƚŝŽŶƚŽƚŚĞƉƌŽďůĞŵ͘/ŶƐƵĐŚĐĂƐĞƐ͕ƚŚĞĂĐƚŝŽŶŽĨƚŚĞŝƚLJ DĂŶĂŐĞƌǁŝůůďĞďŝŶĚŝŶŐƵƉŽŶƚŚĞƉĂƌƚŝĞƐŝŶǀŽůǀĞĚ͕ĂůƚŚŽƵŐŚŶŽƚŚŝŶŐŝŶƚŚŝƐƉƌŽĐĞĚƵƌĞǁŝůůƉƌŽŚŝďŝƚƚŚĞ ƉĂƌƚŝĞƐĨƌŽŵƐĞĞŬŝŶŐƌĞŵĞĚŝĞƐĂǀĂŝůĂďůĞƚŽƚŚĞŵĂƚůĂǁ͘ Ϯϯ͘ d ZD/Ed/KE /ŶƚŚĞĞǀĞŶƚŽĨƚŚĞŽŶƚƌĂĐƚŽƌ͛ƐĨĂŝůƵƌĞƚŽƉƌŽƐĞĐƵƚĞ͕ĚĞůŝǀĞƌ͕ŽƌƉĞƌĨŽƌŵƚŚĞ^ĞƌǀŝĐĞƐ͕ŝƚLJŵĂLJƚĞƌŵŝŶĂƚĞ ƚŚŝƐŐƌĞĞŵĞŶƚĨŽƌŶŽŶƉĞƌĨŽƌŵĂŶĐĞďLJŶŽƚŝĨLJŝŶŐŽŶƚƌĂĐƚŽƌďLJĐĞƌƚŝĨŝĞĚŵĂŝůŽĨƚŚĞƚĞƌŵŝŶĂƚŝŽŶ͘/ĨŝƚLJ ĚĞĐŝĚĞƐƚŽĂďĂŶĚŽŶŽƌŝŶĚĞĨŝŶŝƚĞůLJƉŽƐƚƉŽŶĞƚŚĞǁŽƌŬŽƌƐĞƌǀŝĐĞƐĐŽŶƚĞŵƉůĂƚĞĚďLJƚŚŝƐŐƌĞĞŵĞŶƚ͕ŝƚLJ ŵĂLJƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚƵƉŽŶǁƌŝƚƚĞŶŶŽƚŝĐĞƚŽŽŶƚƌĂĐƚŽƌ͘hƉŽŶŶŽƚŝĨŝĐĂƚŝŽŶŽĨƚĞƌŵŝŶĂƚŝŽŶ͕ ŽŶƚƌĂĐƚŽƌŚĂƐĨŝǀĞ;ϱͿďƵƐŝŶĞƐƐĚĂLJƐƚŽĚĞůŝǀĞƌĂŶLJĚŽĐƵŵĞŶƚƐŽǁŶĞĚďLJŝƚLJĂŶĚĂůůǁŽƌŬŝŶƉƌŽŐƌĞƐƐƚŽ ŝƚLJĂĚĚƌĞƐƐĐŽŶƚĂŝŶĞĚŝŶƚŚŝƐŐƌĞĞŵĞŶƚ͘ŝƚLJǁŝůůŵĂŬĞĂĚĞƚĞƌŵŝŶĂƚŝŽŶŽĨĨĂĐƚďĂƐĞĚƵƉŽŶƚŚĞǁŽƌŬ ƉƌŽĚƵĐƚĚĞůŝǀĞƌĞĚƚŽŝƚLJĂŶĚŽĨƚŚĞƉĞƌĐĞŶƚĂŐĞŽĨǁŽƌŬƚŚĂƚŽŶƚƌĂĐƚŽƌŚĂƐƉĞƌĨŽƌŵĞĚǁŚŝĐŚŝƐƵƐĂďůĞ ĂŶĚŽĨǁŽƌƚŚƚŽŝƚLJŝŶŚĂǀŝŶŐƚŚĞŐƌĞĞŵĞŶƚĐŽŵƉůĞƚĞĚ͘ĂƐĞĚƵƉŽŶƚŚĂƚĨŝŶĚŝŶŐŝƚLJǁŝůůĚĞƚĞƌŵŝŶĞƚŚĞ ĨŝŶĂůƉĂLJŵĞŶƚŽĨƚŚĞŐƌĞĞŵĞŶƚ͘ ŝƚLJŵĂLJƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚďLJƚĞŶĚĞƌŝŶŐƚŚŝƌƚLJ;ϯϬͿĚĂLJƐǁƌŝƚƚĞŶŶŽƚŝĐĞƚŽŽŶƚƌĂĐƚŽƌ͘ŽŶƚƌĂĐƚŽƌ ŵĂLJƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚďLJƚĞŶĚĞƌŝŶŐ ƚŚŝƌƚLJ;ϯϬͿĚĂLJƐǁƌŝƚƚĞŶŶŽƚŝĐĞƚŽŝƚLJ͘/ŶƚŚĞĞǀĞŶƚŽĨ ƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚďLJĞŝƚŚĞƌƉĂƌƚLJĂŶĚƵƉŽŶƌĞƋƵĞƐƚŽĨŝƚLJ͕ŽŶƚƌĂĐƚŽƌǁŝůůĂƐƐĞŵďůĞƚŚĞǁŽƌŬ ƉƌŽĚƵĐƚĂŶĚƉƵƚŝƚŝŶŽƌĚĞƌĨŽƌƉƌŽƉĞƌĨŝůŝŶŐĂŶĚĐůŽƐŝŶŐĂŶĚĚĞůŝǀĞƌŝƚƚŽŝƚLJ͘ŽŶƚƌĂĐƚŽƌǁŝůůďĞƉĂŝĚĨŽƌ ǁŽƌŬƉĞƌĨŽƌŵĞĚƚŽƚŚĞƚĞƌŵŝŶĂƚŝŽŶĚĂƚĞ͖ŚŽǁĞǀĞƌ͕ƚŚĞƚŽƚĂůǁŝůůŶŽƚĞdžĐĞĞĚƚŚĞůƵŵƉƐƵŵĨĞĞƉĂLJĂďůĞ ƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͘ŝƚLJǁŝůůŵĂŬĞƚŚĞĨŝŶĂůĚĞƚĞƌŵŝŶĂƚŝŽŶĂƐƚŽƚŚĞƉŽƌƚŝŽŶƐŽĨƚĂƐŬƐĐŽŵƉůĞƚĞĚĂŶĚ ƚŚĞĐŽŵƉĞŶƐĂƚŝŽŶƚŽďĞŵĂĚĞ͘ Ϯϰ͘ Ks EEd^'/E^dKEd/E' Ed& ^ ŽŶƚƌĂĐƚŽƌǁĂƌƌĂŶƚƐƚŚĂƚŽŶƚƌĂĐƚŽƌŚĂƐŶŽƚĞŵƉůŽLJĞĚŽƌƌĞƚĂŝŶĞĚĂŶLJĐŽŵƉĂŶLJŽƌƉĞƌƐŽŶ͕ŽƚŚĞƌƚŚĂŶĂ ďŽŶĂĨŝĚĞĞŵƉůŽLJĞĞǁŽƌŬŝŶŐĨŽƌŽŶƚƌĂĐƚŽƌ͕ƚŽƐŽůŝĐŝƚŽƌƐĞĐƵƌĞƚŚŝƐŐƌĞĞŵĞŶƚ͕ĂŶĚƚŚĂƚŽŶƚƌĂĐƚŽƌŚĂƐ ŶŽƚƉĂŝĚŽƌĂŐƌĞĞĚƚŽƉĂLJĂŶLJĐŽŵƉĂŶLJŽƌƉĞƌƐŽŶ͕ŽƚŚĞƌƚŚĂŶĂďŽŶĂĨŝĚĞĞŵƉůŽLJĞĞ͕ĂŶLJĨĞĞ͕ĐŽŵŵŝƐƐŝŽŶ͕ ƉĞƌĐĞŶƚĂŐĞ͕ďƌŽŬĞƌĂŐĞĨĞĞ͕ŐŝĨƚ͕ŽƌĂŶLJŽƚŚĞƌĐŽŶƐŝĚĞƌĂƚŝŽŶĐŽŶƚŝŶŐĞŶƚƵƉŽŶ͕ŽƌƌĞƐƵůƚŝŶŐĨƌŽŵ͕ƚŚĞĂǁĂƌĚ ŽƌŵĂŬŝŶŐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘&ŽƌďƌĞĂĐŚŽƌǀŝŽůĂƚŝŽŶŽĨƚŚŝƐǁĂƌƌĂŶƚLJ͕ŝƚLJǁŝůůŚĂǀĞƚŚĞƌŝŐŚƚƚŽĂŶŶƵůƚŚŝƐ ŐƌĞĞŵĞŶƚǁŝƚŚŽƵƚůŝĂďŝůŝƚLJ͕Žƌ͕ŝŶŝƚƐĚŝƐĐƌĞƚŝŽŶ͕ƚŽĚĞĚƵĐƚĨƌŽŵƚŚĞŐƌĞĞŵĞŶƚƉƌŝĐĞŽƌĐŽŶƐŝĚĞƌĂƚŝŽŶ͕Žƌ ŽƚŚĞƌǁŝƐĞƌĞĐŽǀĞƌ͕ƚŚĞĨƵůůĂŵŽƵŶƚŽĨƚŚĞĨĞĞ͕ĐŽŵŵŝƐƐŝŽŶ͕ƉĞƌĐĞŶƚĂŐĞ͕ďƌŽŬĞƌĂŐĞĨĞĞƐ͕ŐŝĨƚ͕ŽƌĐŽŶƚŝŶŐĞŶƚ ĨĞĞ͘ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϴ Ϯϱ͘ >/D^E>t^h/d^ LJƐŝŐŶŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚ͕ŽŶƚƌĂĐƚŽƌĂŐƌĞĞƐƚŚĂƚĂŶLJŐƌĞĞŵĞŶƚĐůĂŝŵƐƵďŵŝƚƚĞĚƚŽŝƚLJŵƵƐƚďĞ ĂƐƐĞƌƚĞĚĂƐƉĂƌƚŽĨƚŚĞŐƌĞĞŵĞŶƚƉƌŽĐĞƐƐĂƐƐĞƚĨŽƌƚŚŝŶƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚŶŽƚŝŶĂŶƚŝĐŝƉĂƚŝŽŶŽĨ ůŝƚŝŐĂƚŝŽŶŽƌŝŶĐŽŶũƵŶĐƚŝŽŶǁŝƚŚůŝƚŝŐĂƚŝŽŶ͘ŽŶƚƌĂĐƚŽƌĂĐŬŶŽǁůĞĚŐĞƐƚŚĂƚŝĨĂĨĂůƐĞĐůĂŝŵŝƐƐƵďŵŝƚƚĞĚƚŽ ŝƚLJ͕ŝƚŵĂLJďĞĐŽŶƐŝĚĞƌĞĚĨƌĂƵĚĂŶĚŽŶƚƌĂĐƚŽƌŵĂLJďĞƐƵďũĞĐƚƚŽĐƌŝŵŝŶĂůƉƌŽƐĞĐƵƚŝŽŶ͘ŽŶƚƌĂĐƚŽƌ ĂĐŬŶŽǁůĞĚŐĞƐƚŚĂƚĂůŝĨŽƌŶŝĂ'ŽǀĞƌŶŵĞŶƚŽĚĞƐĞĐƚŝŽŶƐϭϮϲϱϬĞƚƐĞƋ͕͘ƚŚĞ&ĂůƐĞůĂŝŵƐĐƚĂƉƉůŝĞƐƚŽƚŚŝƐ ŐƌĞĞŵĞŶƚĂŶĚ͕ƉƌŽǀŝĚĞƐĨŽƌĐŝǀŝůƉĞŶĂůƚŝĞƐǁŚĞƌĞĂƉĞƌƐŽŶŬŶŽǁŝŶŐůLJƐƵďŵŝƚƐĂĨĂůƐĞĐůĂŝŵƚŽĂƉƵďůŝĐ ĞŶƚŝƚLJ͘dŚĞƐĞƉƌŽǀŝƐŝŽŶƐŝŶĐůƵĚĞĨĂůƐĞĐůĂŝŵƐŵĂĚĞǁŝƚŚĚĞůŝďĞƌĂƚĞŝŐŶŽƌĂŶĐĞŽĨƚŚĞĨĂůƐĞŝŶĨŽƌŵĂƚŝŽŶŽƌŝŶ ƌĞĐŬůĞƐƐĚŝƐƌĞŐĂƌĚŽĨƚŚĞƚƌƵƚŚŽƌĨĂůƐŝƚLJŽĨŝŶĨŽƌŵĂƚŝŽŶ͘/ĨŝƚLJƐĞĞŬƐƚŽƌĞĐŽǀĞƌƉĞŶĂůƚŝĞƐƉƵƌƐƵĂŶƚƚŽƚŚĞ &ĂůƐĞ ůĂŝŵƐ Đƚ͕ ŝƚ ŝƐ ĞŶƚŝƚůĞĚ ƚŽ ƌĞĐŽǀĞƌ ŝƚƐ ůŝƚŝŐĂƚŝŽŶ ĐŽƐƚƐ͕ ŝŶĐůƵĚŝŶŐ ĂƚƚŽƌŶĞLJ͛Ɛ ĨĞĞƐ͘ ŽŶƚƌĂĐƚŽƌ ĂĐŬŶŽǁůĞĚŐĞƐƚŚĂƚƚŚĞĨŝůŝŶŐŽĨĂĨĂůƐĞĐůĂŝŵŵĂLJƐƵďũĞĐƚŽŶƚƌĂĐƚŽƌƚŽĂŶĂĚŵŝŶŝƐƚƌĂƚŝǀĞĚĞďĂƌŵĞŶƚ ƉƌŽĐĞĞĚŝŶŐĂƐƚŚĞƌĞƐƵůƚŽĨǁŚŝĐŚŽŶƚƌĂĐƚŽƌŵĂLJďĞƉƌĞǀĞŶƚĞĚƚŽĂĐƚĂƐĂŽŶƚƌĂĐƚŽƌŽŶĂŶLJƉƵďůŝĐǁŽƌŬ ŽƌŝŵƉƌŽǀĞŵĞŶƚĨŽƌĂƉĞƌŝŽĚŽĨƵƉƚŽĨŝǀĞ;ϱͿLJĞĂƌƐ͘ŽŶƚƌĂĐƚŽƌĂĐŬŶŽǁůĞĚŐĞƐĚĞďĂƌŵĞŶƚďLJĂŶŽƚŚĞƌ ũƵƌŝƐĚŝĐƚŝŽŶŝƐŐƌŽƵŶĚƐĨŽƌŝƚLJƚŽƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚ͘ Ϯϲ͘ :hZ/^/d/KEEs Eh dŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞŝŶƚĞƌƉƌĞƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞůĂǁƐŽĨƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͘ŶLJĂĐƚŝŽŶĂƚ ůĂǁŽƌŝŶĞƋƵŝƚLJďƌŽƵŐŚƚďLJĞŝƚŚĞƌŽĨƚŚĞƉĂƌƚŝĞƐĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĞŶĨŽƌĐŝŶŐĂƌŝŐŚƚŽƌƌŝŐŚƚƐƉƌŽǀŝĚĞĚĨŽƌ ďLJƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůďĞƚƌŝĞĚŝŶĂĐŽƵƌƚŽĨĐŽŵƉĞƚĞŶƚũƵƌŝƐĚŝĐƚŝŽŶŝŶƚŚĞŽƵŶƚLJŽĨ^ĂŶŝĞŐŽ͕^ƚĂƚĞŽĨ ĂůŝĨŽƌŶŝĂ͕ĂŶĚƚŚĞƉĂƌƚŝĞƐǁĂŝǀĞĂůůƉƌŽǀŝƐŝŽŶƐŽĨůĂǁƉƌŽǀŝĚŝŶŐĨŽƌĂĐŚĂŶŐĞŽĨǀĞŶƵĞŝŶƚŚĞƐĞƉƌŽĐĞĞĚŝŶŐƐ ƚŽĂŶLJŽƚŚĞƌĐŽƵŶƚLJ͘ Ϯϳ͘ ^h ^^KZ^E^^/'E^ /ƚŝƐŵƵƚƵĂůůLJƵŶĚĞƌƐƚŽŽĚĂŶĚĂŐƌĞĞĚƚŚĂƚƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůďĞďŝŶĚŝŶŐƵƉŽŶŝƚLJĂŶĚŽŶƚƌĂĐƚŽƌĂŶĚ ƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞƐƵĐĐĞƐƐŽƌƐ͘EĞŝƚŚĞƌƚŚŝƐŐƌĞĞŵĞŶƚŶŽƌĂŶLJƉĂƌƚŽĨŝƚŶŽƌĂŶLJŵŽŶŝĞƐĚƵĞŽƌƚŽďĞĐŽŵĞ ĚƵĞ ƵŶĚĞƌ ŝƚŵĂLJ ďĞ ĂƐƐŝŐŶĞĚ ďLJ ŽŶƚƌĂĐƚŽƌǁŝƚŚŽƵƚ ƚŚĞ ƉƌŝŽƌ ĐŽŶƐĞŶƚŽĨŝƚLJ͕ǁŚŝĐŚƐŚĂůůŶŽƚďĞ ƵŶƌĞĂƐŽŶĂďůLJǁŝƚŚŚĞůĚ͘ Ϯϴ͘ d,/ZWZdzZ/',d^ EŽƚŚŝŶŐŝŶƚŚŝƐŐƌĞĞŵĞŶƚƐŚŽƵůĚďĞĐŽŶƐƚƌƵĞĚƚŽŐŝǀĞĂŶLJƌŝŐŚƚƐŽƌďĞŶĞĨŝƚƐƚŽĂŶLJƉĂƌƚLJŽƚŚĞƌƚŚĂŶƚŚĞ ŝƚLJĂŶĚŽŶƚƌĂĐƚŽƌ͘ Ϯϵ͘ Ed/Z 'Z D Ed dŚŝƐŐƌĞĞŵĞŶƚ͕ƚŽŐĞƚŚĞƌǁŝƚŚĂŶLJŽƚŚĞƌǁƌŝƚƚĞŶĚŽĐƵŵĞŶƚƌĞĨĞƌƌĞĚƚŽŽƌĐŽŶƚĞŵƉůĂƚĞĚďLJŝƚ͕ĂůŽŶŐǁŝƚŚ ƚŚĞ ƉƵƌĐŚĂƐĞ ŽƌĚĞƌ ĨŽƌ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĂŶĚ ŝƚƐ ƉƌŽǀŝƐŝŽŶƐ͕ ĞŵďŽĚLJ ƚŚĞ ĞŶƚŝƌĞ ŐƌĞĞŵĞŶƚ ĂŶĚ ƵŶĚĞƌƐƚĂŶĚŝŶŐďĞƚǁĞĞŶƚŚĞƉĂƌƚŝĞƐƌĞůĂƚŝŶŐƚŽƚŚĞƐƵďũĞĐƚŵĂƚƚĞƌŽĨŝƚ͘/ŶĐĂƐĞŽĨĐŽŶĨůŝĐƚ͕ƚŚĞƚĞƌŵƐŽĨƚŚĞ ŐƌĞĞŵĞŶƚƐƵƉĞƌƐĞĚĞƚŚĞƉƵƌĐŚĂƐĞŽƌĚĞƌ͘EĞŝƚŚĞƌƚŚŝƐŐƌĞĞŵĞŶƚŶŽƌĂŶLJŽĨŝƚƐƉƌŽǀŝƐŝŽŶƐŵĂLJďĞ ĂŵĞŶĚĞĚ͕ŵŽĚŝĨŝĞĚ͕ǁĂŝǀĞĚŽƌĚŝƐĐŚĂƌŐĞĚĞdžĐĞƉƚŝŶĂǁƌŝƚŝŶŐƐŝŐŶĞĚďLJďŽƚŚƉĂƌƚŝĞƐ͘dŚŝƐŐƌĞĞŵĞŶƚŵĂLJ ďĞĞdžĞĐƵƚĞĚŝŶĐŽƵŶƚĞƌƉĂƌƚƐ͘ ϯϬ͘ hd,KZ/dz dŚĞŝŶĚŝǀŝĚƵĂůƐĞdžĞĐƵƚŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚƚŚĞŝŶƐƚƌƵŵĞŶƚƐƌĞĨĞƌĞŶĐĞĚŝŶŝƚŽŶďĞŚĂůĨŽĨŽŶƚƌĂĐƚŽƌ ĞĂĐŚƌĞƉƌĞƐĞŶƚĂŶĚǁĂƌƌĂŶƚƚŚĂƚƚŚĞLJŚĂǀĞƚŚĞůĞŐĂůƉŽǁĞƌ͕ƌŝŐŚƚĂŶĚĂĐƚƵĂůĂƵƚŚŽƌŝƚLJƚŽďŝŶĚŽŶƚƌĂĐƚŽƌ ƚŽƚŚĞƚĞƌŵƐĂŶĚĐŽŶĚŝƚŝŽŶƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ƐŝŐŶĂƚƵƌĞƐŽŶĨŽůůŽǁŝŶŐƉĂŐĞ W^ϮϱͲϯϱϬϳ& ŝƚLJƚƚŽƌŶĞLJƉƉƌŽǀĞĚsĞƌƐŝŽŶϱͬϮϮͬϮϬϮϰ WĂŐĞϭϬ y,//d ^KW K&^ Zs/ ^E& ŽŶƚƌĂĐƚŽƌƐŚĂůůƉĞƌĨŽƌŵƚŚĞŽŶƐƚƌƵĐƚŝŽŶDĂŶĂŐĞŵĞŶƚĂŶĚ/ŶƐƉĞĐƚŝŽŶ^ĞƌǀŝĐĞƐŽƵƚůŝŶĞĚŝŶƚŚŝƐ džŚŝďŝƚ ĂŶĚƚŚĞƉƌŽƉŽƐĂůĚĂƚĞĚ:ƵŶĞϮϳ͕ϮϬϮϰ͕ĂŶĚƚŚĞĂƚƚĂĐŚĞĚĨĞĞƚĂďůĞŽŶĂŶĂƐͲŶĞĞĚĞĚŚŽƵƌůLJďĂƐŝƐĨŽƌƚŚĞ ƉŽƐŝƚŝŽŶƐĂŶĚŚŽƵƌůLJƌĂƚĞƐŝĚĞŶƚŝĨŝĞĚŝŶƚŚĞƉƌŽƉŽƐĞĚĨĞĞƐƚƌƵĐƚƵƌĞĚĂƚĞĚ͞ƌĞǀŝƐĞĚϴͬϲͬϮϬϮϰ͘͟ y,//d͟͞;ŽŶƚ͘Ϳ ^KW K&KE^dZhd/KEDE' D Ed^ Zs/ ^ d^<ϭ͗ŽŶƐƚƌƵĐƚŝŽŶĚŵŝŶŝƐƚƌĂƚŝŽŶ d^<ϭ͘ϭWƌĞůŝŵŝŶĂƌLJƉƌŽũĞĐƚǁŽƌŬ dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůƌĞǀŝĞǁƚŚĞƉƌŽũĞĐƚƐĐŽƉĞŽƌǁŽƌŬĂŶĚĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƐĐŽŶƐŝƐƚŝŶŐŽĨƚŚĞ ŝƚLJΖƐ'ĞŶĞƌĂůWƌŽǀŝƐŝŽŶƐ͕^ƵƉƉůĞŵĞŶƚĂůWƌŽǀŝƐŝŽŶƐ͕dĞĐŚŶŝĐĂů^ƉĞĐŝĨŝĐĂƚŝŽŶƐ͕ƉƉĞŶĚŝĐĞƐĂŶĚ ĚƌĂǁŝŶŐƐŝƐƐƵĞĚĨŽƌďŝĚĚŝŶŐĂŶĚĂŶLJĂĚĚĞŶĚĂƚŚĞƌĞƚŽ͘ d^<ϭ͘ϮŽŶƚƌĂĐƚĚŵŝŶŝƐƚƌĂƚŝŽŶͬDĂŶĂŐĞŵĞŶƚ dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌĂƐƐŝƐƚŝŶŐƚŚĞŝƚLJΖƐƉƌŽũĞĐƚŵĂŶĂŐĞƌǁŝƚŚĂůůĂƐƉĞĐƚƐŽĨ WƵďůŝĐtŽƌŬƐĐŽŶƚƌĂĐƚĐŽŵƉůŝĂŶĐĞ͕ĐŚĂŶŐĞͬĐůĂŝŵƐŶĞŐŽƚŝĂƚŝŽŶƐĂŶĚƉƌŽĐĞƐƐŝŶŐ͕ĐŽŶƚƌĂĐƚ ŝŶƚĞƌƉƌĞƚĂƚŝŽŶƐĂŶĚĞŶĨŽƌĐĞŵĞŶƚ͘dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůŽǀĞƌƐĞĞ͕ƉĞƌĨŽƌŵ͕ĂŶĚĐŽŽƌĚŝŶĂƚĞǁŽƌŬ ŝŶĐůƵĚĞĚŝŶƚŚŝƐƐĐŽƉĞŽĨƐĞƌǀŝĐĞƐ͕ĂƐĚŝƌĞĐƚĞĚďLJƚŚĞŝƚLJ͘dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůů͗ƉƌĞƉĂƌĞƌĞƉŽƌƚƐ͕ ůĞƚƚĞƌƐĂŶĚŵĞŵŽƌĂŶĚĂ͖ĐŽŶĚƵĐƚƉƌŽũĞĐƚŵĞĞƚŝŶŐƐ͖ƉƌĞƉĂƌĞŵĞĞƚŝŶŐĂŐĞŶĚĂƐĂŶĚŵŝŶƵƚĞƐ͕ ŵŽŶŝƚŽƌĂŶĚƚƌĂĐŬƚŚĞĞdžƉŝƌĂƚŝŽŶŽĨŝŶƐƵƌĂŶĐĞƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚŽďƚĂŝŶƵƉĚĂƚĞĚĐĞƌƚŝĨŝĐĂƚĞƐĨƌŽŵ ƚŚĞŽŶƚƌĂĐƚŽƌ͖ĐŽŽƌĚŝŶĂƚĞƐƵďͲĐŽŶƐƵůƚĂŶƚƚĞƐƚŝŶŐĂŶĚƐƉĞĐŝĂůƚLJƐĞƌǀŝĐĞƐ͖ƌĞǀŝĞǁĚĂŝůLJŝŶƐƉĞĐƚŝŽŶ ŶŽƚĞƐĂŶĚŝĚĞŶƚŝĨLJĂŶĚƌĞƉŽƌƚŶŽŶĐŽŶĨŽƌŵŝŶŐŝƚĞŵƐ͖ŶŽƚŝĨLJƚŚĞŝƚLJŽĨƐŝŐŶŝĨŝĐĂŶƚƉƌŽďůĞŵƐĂŶĚ ĚŝƐĐƌĞƉĂŶĐŝĞƐ͖ĂƐƐŝƐƚƚŚĞŝƚLJǁŝƚŚŝŶƚĞƌƉƌĞƚŝŶŐĚƌĂǁŝŶŐƐ͕ƐƉĞĐŝĨŝĐĂƚŝŽŶƐĂŶĚƌĞĨĞƌĞŶĐĞƐƚĂŶĚĂƌĚƐ͖ ŵŽŶŝƚŽƌĐŽŶƐƚƌƵĐƚŝŽŶĂĐƚŝǀŝƚŝĞƐĂŶĚƐĐŚĞĚƵůĞƐ͖ĂƐƐŝƐƚƚŚĞŝƚLJǁŝƚŚƌĞƐŽůǀŝŶŐĐŽŶƐƚƌƵĐƚĂďŝůŝƚLJ ƉƌŽďůĞŵƐ͖ĐŽŽƌĚŝŶĂƚĞĐŽŶŶĞĐƚŝŽŶƐĂŶĚŽƉĞƌĂƚŝŽŶƐ͖ƉĞƌĨŽƌŵƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞŝŶƐƉĞĐƚŝŽŶƐ͕ƌĞǀŝĞǁ ĂŶĚŶĞŐŽƚŝĂƚĞĐŚĂŶŐĞŽƌĚĞƌƐ͕ƌĞǀŝĞǁĂŶĚŶŽƚŝĨLJƚŚĞŽŶƚƌĂĐƚŽƌŽĨƚĞƐƚƌĞƐƵůƚƐ͖ŝŶǀĞƐƚŝŐĂƚĞĐůĂŝŵƐ͖ ƌĞǀŝĞǁƚŚĞŽŶƚƌĂĐƚŽƌƐZĞĐŽƌĚƌĂǁŝŶŐƐƉĞƌŝŽĚŝĐĂůůLJĂŶĚĐŽŶĐƵƌƌĞŶƚůLJǁŝƚŚŽŶƚƌĂĐƚŽƌ͛ƐŵŽŶƚŚůLJ ƉƌŽŐƌĞƐƐƐĐŚĞĚƵůĞƵƉĚĂƚĞƐĂŶĚŵŽŶƚŚůLJƉĂLJŵĞŶƚĂƉƉůŝĐĂƚŝŽŶƐ͖ĂŶĚƉƌĞƉĂƌĞƉƌŽũĞĐƚƉƵŶĐŚůŝƐƚƐ͕ ĞƚĐ͘ d^<ϭ͘ϯZĞƉŽƌƚƐĂŶĚŽŵŵƵŶŝĐĂƚŝŽŶƐ ůůƌĞůĞǀĂŶƚƉƌŽũĞĐƚĐŽŵŵƵŶŝĐĂƚŝŽŶƐƐŚĂůůďĞĚŽĐƵŵĞŶƚĞĚĂŶĚƉƌŽŵƉƚůLJĚŝƐƚƌŝďƵƚĞĚƚŽƚŚĞŝƚLJ ĂŶĚĂƉƉůŝĐĂďůĞƉĂƌƚŝĞƐ͘ůůŽƌŝŐŝŶĂůƉƌŽũĞĐƚĚŽĐƵŵĞŶƚƐĂŶĚĨŝŶĂůƉƌŽũĞĐƚƌĞƉŽƌƚƐƐŚĂůůďĞ ĨƵƌŶŝƐŚĞĚƚŽƚŚĞŝƚLJǁŝƚŚŝŶϲϬĚĂLJƐĨŽůůŽǁŝŶŐƚŚĞŝƚLJΖƐĚĞƚĞƌŵŝŶĂƚŝŽŶŽĨ^ƵďƐƚĂŶƚŝĂů ŽŵƉůĞƚŝŽŶ͘ DĂŝŶƚĂŝŶĨŝĞůĚŵĞŵŽƌĂŶĚĂ͕ƚƌĂŶƐŵŝƚƚĂůƐ͕ƵƉĚĂƚĞĚƐĐŚĞĚƵůĞƐ͕ůŽŐƐŽĨƐŚŽƉĚƌĂǁŝŶŐƐĂŶĚŽƚŚĞƌ ƐƵďŵŝƚƚĂůƐ͕ůŽŐƐŽĨƌĞƋƵĞƐƚƐĨŽƌŝŶĨŽƌŵĂƚŝŽŶ͕ĐŚĂŶŐĞŽƌĚĞƌƐ͕ƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƌĞƋƵĞƐƚƐ͕ƉƌŽŐƌĞƐƐ ŵĞĞƚŝŶŐƌĞƉŽƌƚƐ͕ĚĂŝůLJŝŶƐƉĞĐƚŝŽŶƌĞƉŽƌƚƐ͕ĚĂƚĞƐŽĨƵƚŝůŝƚLJƐĞƌǀŝĐĞŝŶƚĞƌƌƵƉƚŝŽŶƐ͕ĂŶĚĂůůŽƚŚĞƌ ƉƌŽũĞĐƚĐŽƌƌĞƐƉŽŶĚĞŶĐĞ͘ DŽŶƚŚůLJƉƌŽŐƌĞƐƐƌĞƉŽƌƚƐƐŚĂůůďĞƉƌĞƉĂƌĞĚĂŶĚƐƵďŵŝƚƚĞĚƚŽƚŚĞŝƚLJΖƐWƌŽũĞĐƚDĂŶĂŐĞƌĂŶĚƐŚĂůů ŝŶĐůƵĚĞƚŚĞĨŽůůŽǁŝŶŐĞůĞŵĞŶƚƐ͗ ĂͿ ^ƵŵŵĂƌLJ ŽĨ ƚŚĞ ƉƌŝŽƌ ŵŽŶƚŚΖƐ ŵĂŝŶ ĂĐĐŽŵƉůŝƐŚŵĞŶƚƐ ĂŶĚ ĐƵƌƌĞŶƚ ĐŽŶƐƚƌƵĐƚŝŽŶ ĂĐƚŝǀŝƚŝĞƐ͘ ďͿ KǀĞƌĂůů͕ŽŶƚƌĂĐƚŽƌĐŽŶĨŽƌŵĂŶĐĞƚŽĐŽŶƚƌĂĐƚƐĐŚĞĚƵůĞĂŶĚƋƵĂůŝƚLJƌĞƋƵŝƌĞŵĞŶƚƐ͘ ĐͿ /ĚĞŶƚŝĨŝĐĂƚŝŽŶŽĨŬĞLJƉƌŽďůĞŵƐ͕ĂĐƚŝŽŶŝƚĞŵƐ͕ĂŶĚŝƐƐƵĞƐĂŶĚƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐĨŽƌ ƐŽůƵƚŝŽŶƐ͘ Z&WƵĞĂƚĞ͗:ƵŶĞϮϳ͕ϮϬϮϰ City Attorney Approved Version 6/12/18 12 ĚͿ ^ƵŵŵĂƌLJ ŽĨ ƉƌŽŐƌĞƐƐ ƉĂLJŵĞŶƚƐ͕ ƉƌŽƉŽƐĂů ĂŶĚ ĨŝŶĂů ĐŚĂŶŐĞ ŽƌĚĞƌƐ͕ ĚŝƐƉƵƚĞƐ͕ ƐƵďŵŝƚƚĂůƐ͕Z&ůƐ͕ĂŶĚEŽƚŝĐĞƐŽĨEŽŶĐŽŵƉůŝĂŶĐĞ͘ ĞͿ WŚŽƚŽŐƌĂƉŚƐŽĨƌĞƉƌĞƐĞŶƚĂƚŝǀĞƉƌŽũĞĐƚĂĐƚŝǀŝƚŝĞƐƉƌŝŶƚĞĚĂŶĚĞůĞĐƚƌŽŶŝĐĂůůLJƐƚŽƌĞĚ͘ d^<ϭ͘ϰWŚŽƚŽŽĐƵŵĞŶƚĂƚŝŽŶ ZĞǀŝĞǁƚŚĞŽŶƚƌĂĐƚŽƌΖƐǀŝĚĞŽƚĂƉĞŽĨƉƌĞĐŽŶƐƚƌƵĐƚŝŽŶƐŝƚĞĐŽŶĚŝƚŝŽŶƐƉƌŝŽƌƚŽĂŶLJĐŽŶƐƚƌƵĐƚŝŽŶ ŽƉĞƌĂƚŝŽŶƚŽĐŽŶĨŝƌŵĞdžŝƐƚŝŶŐĐŽŶĚŝƚŝŽŶƐǁŝƚŚŝŶƚŚĞůŝŵŝƚƐŽĨǁŽƌŬ͕ĂĚũĂĐĞŶƚĂƌĞĂƐ͕ĂŶĚĂůŽŶŐŚĂƵů ƌŽĂĚƐ ƚŽ ĚŽĐƵŵĞŶƚ ĂŶĚ ĐůĞĂƌůLJ ĚĞƉŝĐƚ ƉƌĞͲĞdžŝƐƚŝŶŐ ĐŽŶĚŝƚŝŽŶƐ͘ WƌĞƉĂƌĞ ĂĚĚŝƚŝŽŶĂů ǀŝĚĞŽƚĂƉĞ ĂŶĚͬŽƌƉŚŽƚŽŐƌĂƉŚƐƚŽĚŽĐƵŵĞŶƚƐŝƚĞĐŽŶĚŝƚŝŽŶƐĂƐƌĞƋƵŝƌĞĚƚŽƐƵƉƉůĞŵĞŶƚƚŚĞŽŶƚƌĂĐƚŽƌ͛Ɛ ǀŝĚĞŽƚĂƉĞ͘ dĂŬĞĂŶĚƐŚĂƌĞĐŽŶƐƚƌƵĐƚŝŽŶĚŽĐƵŵĞŶƚĂƚŝŽŶƉŚŽƚŽŐƌĂƉŚƐŽŶĂƌĞŐƵůĂƌďĂƐŝƐ͘DĂŝŶƚĂŝŶĂĚŝŐŝƚĂů ƉŚŽƚŽŐƌĂƉŚŝĐůŝďƌĂƌLJŽĨĂůůƐŝŐŶŝĨŝĐĂŶƚĐŽŶƐƚƌƵĐƚŝŽŶĂĐƚŝǀŝƚŝĞƐĂǀĂŝůĂďůĞĨŽƌƌĞǀŝĞǁŽŶĂƚůĞĂƐƚĂ ǁĞĞŬůLJďĂƐŝƐǀŝĂƉƌŽũĞĐƚŵĂŶĂŐĞŵĞŶƚƐŽĨƚǁĂƌĞ͘WƌŽǀŝĚĞƵŶŝƋƵĞĨŝůĞŶĂŵĞƐĨŽƌƉŚŽƚŽƐǁŝƚŚĚĂƚĞ ĂŶĚ ůŽĐĂƚŝŽŶ ŝŶĨŽƌŵĂƚŝŽŶ ŝŶĐůƵĚĞĚ͘ dĂŬĞ ĂĚĚŝƚŝŽŶĂů ƉŚŽƚŽŐƌĂƉŚƐƚŽ ĚŽĐƵŵĞŶƚ ĚŝĨĨĞƌŝŶŐ ƐŝƚĞ ĐŽŶĚŝƚŝŽŶƐ͕ĐŚĂŶŐĞŽƌĚĞƌĂŶĚĐůĂŝŵŝƚĞŵƐ͕ĂŶĚĂŶLJƐƉĞĐŝĂůŽƌƵŶŝƋƵĞĐŽŶĚŝƚŝŽŶƐĂƐƚŚĞLJĂƌŝƐĞ͘ /ŶĐŽƌƉŽƌĂƚĞŶĞǁƐŽĨƚǁĂƌĞĐĂƉĂďŝůŝƚŝĞƐ;ůƵĞĞĂŵ͕ĞƚĐ͘ͿƚŚĂƚĂůůŽǁƉŚŽƚŽŐƌĂƉŚƐƚĂŬĞŶŝŶƚŚĞĨŝĞůĚ ƚŽďĞůŝŶŬĞĚƚŽĂW&ŽĨƚŚĞƐŝƚĞƉůĂŶͬĚƌĂǁŝŶŐͬĚĞƚĂŝůŽĨƚŚĞƉŚŽƚŽŐƌĂƉŚĞĚůŽĐĂƚŝŽŶ͘ƌĞƉŽƌƚŽĨ ƚŚĞƐĞƉŚŽƚŽƐůŝŶŬĞĚƚŽƚŚĞŝƌůŽĐĂƚŝŽŶŝƐƚŽďĞƉƌŽǀŝĚĞĚǁĞĞŬůLJ͘WŚŽƚŽƐƐŚĂůůďĞƵƉůŽĂĚĞĚƚŽƚŚĞ ĂƉƉƌŽǀĞĚƉƌŽũĞĐƚĚŽĐƵŵĞŶƚŵĂŶĂŐĞŵĞŶƚƐŝƚĞƌĞŐƵůĂƌůLJ͘ d^<ϭ͘ϱŽŶƐƚƌƵĐƚŝŽŶWƌŽŐƌĞƐƐDĞĞƚŝŶŐƐ ^ĐŚĞĚƵůĞĂŶĚĐŽŶĚƵĐƚǁĞĞŬůLJĐŽŶƐƚƌƵĐƚŝŽŶƉƌŽŐƌĞƐƐŵĞĞƚŝŶŐƐǁŝƚŚƚŚĞŽŶƚƌĂĐƚŽƌĂŶĚƚŚĞŝƚLJ͘ WƌŽǀŝĚĞ ŵĞĞƚŝŶŐ ĂŐĞŶĚĂƐ ĂŶĚ ĚŝƐĐƵƐƐ ƚŚĞ ƐĐŚĞĚƵůĞ͕ ŶĞĂƌͲƚĞƌŵ ĂĐƚŝǀŝƚŝĞƐ͕ ĐůĂƌŝĨŝĐĂƚŝŽŶƐ ĂŶĚ ƉƌŽďůĞŵƐǁŚŝĐŚŶĞĞĚƌĞƐŽůƵƚŝŽŶ͕ĐŽŽƌĚŝŶĂƚŝŽŶǁŝƚŚŽƚŚĞƌŽŶƚƌĂĐƚŽƌƐ͘ƐƚĂƚƵƐŽĨĐŚĂŶŐĞŽƌĚĞƌƐ͕ ƐĂĨĞƚLJŝƐƐƵĞƐ͕ĞƚĐ͘WƌĞƉĂƌĞŵŝŶƵƚĞƐŽĨƚŚĞŵĞĞƚŝŶŐƐǁŝƚŚŝĚĞŶƚŝĨŝĞĚĂĐƚŝŽŶŝƚĞŵƐ͘WƌĞƉĂƌĞĂŶĚ ĚŝƐƚƌŝďƵƚĞƚŚĞŵŝŶƵƚĞƐƚŽƚŚĞĂƚƚĞŶĚĞĞƐǁŝƚŚŝŶƚǁŽǁŽƌŬŝŶŐĚĂLJƐ͘/ŶĐůƵĚĞŵŝŶƵƚĞƐŝŶƚŚĞŵŽŶƚŚůLJ ƉƌŽŐƌĞƐƐƌĞƉŽƌƚƐ͘ d^<ϭ͘ϲ^ŚŽƉƌĂǁŝŶŐƐĂŶĚ^ƵďŵŝƚƚĂůZĞǀŝĞǁƐ ^ƵďŵŝƚƚĂůƌĞǀŝĞǁĂŶĚĂƉƉƌŽǀĂůĂƌĞƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨƚŚĞĂƌĐŚŝƚĞĐƚĂŶĚƚŚĞŝƚLJΖƐWƌŽũĞĐƚ DĂŶĂŐĞƌ͘dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƉƌŽĐĞƐƐŝŶŐĂŶĚŵŽŶŝƚŽƌŝŶŐƚŚĞƐƚĂƚƵƐŽĨĂůů ƐƵďŵŝƚƚĂůƐ͘ dŚĞ ĐŽŶƐƵůƚĂŶƚ ƐŚĂůů ƉƌŽǀŝĚĞ ĐƵƌƐŽƌLJ ƌĞǀŝĞǁ ŽĨ ƚŚĞ ŽŶƚƌĂĐƚŽƌΖƐ ƐƵďŵŝƚƚĂůƐ ĨŽƌ ŐĞŶĞƌĂů ĐŽŶĨŽƌŵĂŶĐĞǁŝƚŚƚŚĞĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƌĞƋƵŝƌĞŵĞŶƚƐƉƌŝŽƌƚŽƐĞŶĚŝŶŐƚŚĞƐƵďŵŝƚƚĂůƐƚŽƚŚĞ ĂƌĐŚŝƚĞĐƚĂŶĚŝƚLJWƌŽũĞĐƚDĂŶĂŐĞƌ͘^ƵďŵŝƚƚĂůƐŽĨĂŐĞŶĞƌĂůŶĂƚƵƌĞ;'ĞŶĞƌĂůWƌŽǀŝƐŝŽŶƐΘŝǀŝƐŝŽŶ ϭZĞƋƵŝƌĞŵĞŶƚƐͿĂƌĞƚŽďĞƌĞǀŝĞǁĞĚĂŶĚƉƌŽĐĞƐƐĞĚďLJƚŚĞĐŽŶƐƵůƚĂŶƚ͘ZĞǀŝĞǁŽĨƚŚĞŽŶƚƌĂĐƚŽƌΖƐ ĐŽŶƐƚƌƵĐƚŝŽŶƐĐŚĞĚƵůĞĂŶĚŵŽŶƚŚůLJƵƉĚĂƚĞƐƐŚĂůůďĞƚŚĞƐŽůĞƌĞƐƉŽŶƐŝďŝůŝƚLJŽĨƚŚĞĐŽŶƐƵůƚĂŶƚǁŝƚŚ ŝŶƉƵƚƉƌŽǀŝĚĞĚĨƌŽŵƚŚĞĂƌĐŚŝƚĞĐƚĂŶĚŝƚLJ͘ ŽŶƐƵůƚĂŶƚǁŝůůůŽŐ͕ƚƌĂĐŬ͕ĂŶĚŵŽŶŝƚŽƌƚŚĞƌĞǀŝĞǁŽĨƐŚŽƉĚƌĂǁŝŶŐƐ͕ĐĂůĐƵůĂƚŝŽŶƐ͕ĚĂƚĂƐĂŵƉůĞƐ͕ ƐƵďŵŝƚƚĂůƐ͕ǁĂƌƌĂŶƚŝĞƐĂŶĚŵĂŶƵĂůƐĨƌŽŵƚŚĞŽŶƚƌĂĐƚŽƌ͘^ŚŽƉĚƌĂǁŝŶŐƐĂŶĚƐƵďŵŝƚƚĂůƐǁŚŝĐŚĚŽ ŶŽƚ ƐĂƚŝƐĨLJ ƚŚĞ ƉƌŽũĞĐƚ ĐƌŝƚĞƌŝŽŶ ƐŚĂůů ďĞ ƌĞƚƵƌŶĞĚ ƚŽ ƚŚĞ ŽŶƚƌĂĐƚŽƌǁŝƚŚĐŽŵŵĞŶƚƐĨŽƌ Z&WƵĞĂƚĞ͗:ƵŶĞϮϳ͕ϮϬϮϰ City Attorney Approved Version 6/12/18 13 ĐŽƌƌĞĐƚŝŽŶƐĂŶĚƌĞƐƵďŵŝƚƚĂů͘ džĐĞƉƚŝŽŶƌĞƉŽƌƚƐ͕ƚŚĂƚŝĚĞŶƚŝĨLJŽƵƚƐƚĂŶĚŝŶŐƐƵďŵŝƚƚĂůƐŽƌƌĞǀŝĞǁƐ ŶĞĞĚĞĚ͕ƐŚĂůůďĞƉƌĞƉĂƌĞĚƉĞƌŝŽĚŝĐĂůůLJďLJƚŚĞĐŽŶƐƵůƚĂŶƚ͘WƌĞůŝŵŝŶĂƌLJůŝƐƚƐŽĨŝŶŝƚŝĂůƐƵďŵŝƚƚĂů ƌĞƋƵŝƌĞŵĞŶƚƐƐŚĂůůďĞƉƌĞƉĂƌĞĚďLJƚŚĞ ĐŽŶƐƵůƚĂŶƚĂŶĚŝƐƐƵĞĚĂƚƚŚĞŝŶŝƚŝĂůƉƌŽũĞĐƚƉƌŽŐƌĞƐƐ ŵĞĞƚŝŶŐƐ͘ d^<ϭ͘ϳWůĂŶƐĂŶĚ^ƉĞĐŝĨŝĐĂƚŝŽŶƐ/ŶƚĞƌƉƌĞƚĂƚŝŽŶ dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůƌĞǀŝĞǁĂŶĚƌĞƐƉŽŶĚƚŽŽŶƚƌĂĐƚŽƌZ&ůƐŝĨŽĨĂŐĞŶĞƌĂůŶĂƚƵƌĞ͘dĞĐŚŶŝĐĂůZ&/Ɛ ƐŚĂůůďĞƐƵďŵŝƚƚĞĚƚŽƚŚĞĂƌĐŚŝƚĞĐƚĂŶĚŝƚLJĨŽƌƌĞƐƉŽŶƐĞ͘dŚĞĐŽŶƐƵůƚĂŶƚƐŚĂůůŵĂŝŶƚĂŝŶĂůŽŐŽĨ Z&ůƐĂŶĚƉƌŽǀŝĚĞǁƌŝƚƚĞŶĐůĂƌŝĨŝĐĂƚŝŽŶƚŽƚŚĞŽŶƚƌĂĐƚŽƌŝŶĂƚŝŵĞůLJŵĂŶŶĞƌ͘ZĞƐƉŽŶƐĞƐƚŽƌĞƋƵĞƐƚƐ ĨŽƌĐŚĂŶŐĞƐƚŽƚŚĞĚĞƐŝŐŶƌĞƋƵŝƌĞƉƌŝŽƌĂƉƉƌŽǀĂůĨƌŽŵƚŚĞĂƌĐŚŝƚĞĐƚĂŶĚŝƚLJΖƐWƌŽũĞĐƚDĂŶĂŐĞƌ͘ KďƚĂŝŶĂŶĚŵĂŝŶƚĂŝŶƐƉĞĐŝĨŝĐĂƚŝŽŶƌĞĨĞƌĞŶĐĞĚƐƚĂŶĚĂƌĚƐŝŶĐůƵĚŝŶŐ ůŽĐĂů ĂŶĚ ƌĞŐŝŽŶĂů ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ͕ĐŽĚĞƐ͕ƐƚĂŶĚĂƌĚƐ͕ƉƵďůŝĐĂƚŝŽŶƐ͕ƌĞŐƵůĂƚŝŽŶƐ͕ĂƉƉůŝĐĂďůĞƉĞƌŵŝƚƚŝŶŐĐƌŝƚĞƌŝĂĨƌŽŵ ůŽĐĂů͕ƐƚĂƚĞ͕ĂŶĚĨĞĚĞƌĂůĂŐĞŶĐŝĞƐ͕ƐƚĂŶĚĂƌĚĚƌĂǁŝŶŐƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐŽĨƚŚĞůŽĐĂůĂŐĞŶĐŝĞƐ͕ĂŶĚ ƌĞůĂƚĞĚĚŽĐƵŵĞŶƚƐ͕ĂƐƌĞĨĞƌĞŶĐĞĚŝŶƚŚĞĐŽŶƚƌĂĐƚĚŽĐƵŵĞŶƚƐĂŶĚĂƐƌĞƋƵŝƌĞĚƚŽƉĞƌĨŽƌŵƚŚĞ ǁŽƌŬ͘ d^<ϭ͘ϴŽŶƐƚƌƵĐƚŝŽŶ/ŶƐƉĞĐƚŝŽŶ^ĞƌǀŝĐĞƐ ŽŶƐƵůƚĂŶƚǁŝůůďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞŽǀĞƌĂůůƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞŽĨƚŚĞƉƌŽũĞĐƚĂŶĚǁŽƌŬǁŝƚŚŝƚLJ ƐƚĂĨĨƌĞƐƉŽŶƐŝďůĞĨŽƌĐŽĚĞĐŽŵƉůŝĂŶĐĞ͘WƌŽǀŝĚĞĨƵůůƚŝŵĞŝŶƐƉĞĐƚŝŽŶƚŽĞŶƐƵƌĞƚŚĂƚƚŚĞŽŶƚƌĂĐƚŽƌΖƐ ǁŽƌŬŝƐĐŽŵƉůŝĂŶƚǁŝƚŚƚŚĞƉƌŽũĞĐƚĐƌŝƚĞƌŝŽŶ͘WƌĞƉĂƌĞĚĂŝůLJƌĞƉŽƌƚƐŽĨƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶĂĐƚŝǀŝƚŝĞƐ ŝŶĐůƵĚŝŶŐ ǁĞĂƚŚĞƌ ĐŽŶĚŝƚŝŽŶƐ͕ ŽŶƚƌĂĐƚŽƌΖƐ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ŵĂŶƉŽǁĞƌ͕ ǁŽƌŬ ƉĞƌĨŽƌŵĞĚ͕ ŵĂƚĞƌŝĂůƐƵƐĞĚ͕ƐŝƚĞǀŝƐŝƚŽƌƐ͕ĚĞůĂLJƐŝŶǁŽƌŬĂŶĚƌĞĂƐŽŶƐĨŽƌƚŚĞĚĞůĂLJƐ͕ĂŶĚĚĞĨŝĐŝĞŶĐŝĞƐ͘WƌĞƉĂƌĞ ĚĂŝůLJ ƌĞƉŽƌƚƐ ŽĨ ĚĞǀŝĂƚŝŽŶƐ ĂŶĚ ŶŽŶͲĐŽŶĨŽƌŵĂŶĐĞ ƚŽ ƉƌŽũĞĐƚ ĐƌŝƚĞƌŝŽŶ ĂŶĚ ƉƌŽǀŝĚĞ Ă ƚŝŵĞůLJ ƌĞƐƉŽŶƐĞ͘ ŽŽƌĚŝŶĂƚĞĂŶĚƐƵƉĞƌǀŝƐĞĐŝƚLJĐŽŶƚƌĂĐƚĞĚƐƉĞĐŝĂůŝŶƐƉĞĐƚŝŽŶƐĂƐƌĞƋƵŝƌĞĚĂŶĚĚŝƐĐƵƐƐǁŝƚŚƚŚĞ ŽŶƚƌĂĐƚŽƌĂƉƉƌŽƉƌŝĂƚĞƌĞǀŝƐŝŽŶƐƚŽƚŚĞŵĞƚŚŽĚƐĂŶĚƉƌŽĐĞĚƵƌĞƐƵƐĞĚŝŶƉĞƌĨŽƌŵŝŶŐƚŚĞǁŽƌŬ͘ dŚĞƐƉĞĐŝĂůŝŶƐƉĞĐƚŽƌƐŵĂLJŶŽƚĂƵƚŚŽƌŝnjĞĞdžƚƌĂǁŽƌŬŽƌĂƉƉƌŽǀĞŽĨǁŽƌŬƚŚĂƚĚĞǀŝĂƚĞƐĨƌŽŵƚŚĞ ƉƌŽũĞĐƚĐƌŝƚĞƌŝŽŶ͘ ŽŶƐƵůƚĂŶƚǁŝůůŝŶƐƉĞĐƚŵĂƚĞƌŝĂůƐĂƐƚŚĞLJĂƌƌŝǀĞŽŶƐŝƚĞĂŶĚǀĞƌŝĨLJƚŚĂƚĂůůŵĂƚĞƌŝĂůƐĂŶĚĞƋƵŝƉŵĞŶƚ ŵĞĞƚƉƌŽũĞĐƚĐƌŝƚĞƌŝĂƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚĂƌĞƉƌŽƉĞƌůLJƐƚŽƌĞĚ͘dŚĞĐŽŶƐƵůƚĂŶƚǁŝůůŝŶƐƉĞĐƚƚŚĞƐŝƚĞ ĚĂŝůLJ͕ŝŶĐůƵĚŝŶŐĂŶLJƐŝƚĞDWŵĞĂƐƵƌĞƐ͕ŵĂŶĂŐĞƐƉĞĐŝĂůŝŶƐƉĞĐƚŽƌƐ͕ĂŶĚĐŽŽƌĚŝŶĂƚĞǁŝƚŚĂŶLJ ŐĞŽƚĞĐŚŶŝĐĂůĂŶĚŵĂƚĞƌŝĂůƚĞƐƚŝŶŐĐŽŶƐƵůƚĂŶƚƐĂŶĚďĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞŽǀĞƌĂůůƋƵĂůŝƚLJĂƐƐƵƌĂŶĐĞ ŽĨƚŚĞƉƌŽũĞĐƚ͘ d^<ϭ͘ϵWƌŽŐƌĞƐƐWĂLJŵĞŶƚƐ ZĞǀŝĞǁƉƌŽũĞĐƚͲƌĞůĂƚĞĚŝŶǀŽŝĐĞƐĂŶĚƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƐ͘^ƵďŵŝƚĂůůŝŶǀŽŝĐĞƐƚŽƚŚĞŝƚLJΖƐWƌŽũĞĐƚ DĂŶĂŐĞƌǁŝƚŚĂƌĞĐŽŵŵĞŶĚĂƚŝŽŶƐƚĂƚŝŶŐƚŚĞƉƌŽƉĞƌĂŵŽƵŶƚĨŽƌƉĂLJŵĞŶƚ͘hƐĞƚŚĞ^ĐŚĞĚƵůĞŽĨ sĂůƵĞƐĂŶĚĂĐƚƵĂůƋƵĂŶƚŝƚŝĞƐĨŽƌƉĂLJŵĞŶƚƌĞƋƵĞƐƚƌĞǀŝĞǁƐ͘dŚĞŝƚLJǁŝůůƉƌŽǀŝĚĞĂĨŽƌŵĂƚĨŽƌ ŵŽŶƚŚůLJƉƌŽŐƌĞƐƐƉĂLJŵĞŶƚƐďĂƐĞĚŽŶƚŚĞŝĚ^ĐŚĞĚƵůĞŝŶƚŚĞĐŽŶƚƌĂĐƚ͘ Z&WƵĞĂƚĞ͗:ƵŶĞϮϳ͕ϮϬϮϰ City Attorney Approved Version 6/12/18 14 d^<ϭ͘ϭϬŽŶƚƌĂĐƚŽƌΖƐůĂŝŵƐĂŶĚŚĂŶŐĞKƌĚĞƌƐ /ŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚLJΖƐ^ƚĂŶĚĂƌĚWƵďůŝĐtŽƌŬƐŽŶƚƌĂĐƚĂŶĚ^ƵƉƉůĞŵĞŶƚĂůWƌŽǀŝƐŝŽŶƐ͕ ŝĚĞŶƚŝĨLJ͕ƉƌĞƉĂƌĞ͕ůŽŐ͕ĂŶĚŵŽŶŝƚŽƌĂůůŽŶƚƌĂĐƚŽƌŽƌŝƚLJŝŶŝƚŝĂƚĞĚĐůĂŝŵƐ͕ĐŚĂŶŐĞƐ͕ĞdžƚƌĂǁŽƌŬ͕ ĂŶĚĐŚĂŶŐĞŽƌĚĞƌƐ͘ƐƐŝƐƚƚŚĞŝƚLJΖƐWƌŽũĞĐƚDĂŶĂŐĞƌďLJǁŽƌŬŝŶŐƚŽŶĞŐŽƚŝĂƚĞĂůůĐůĂŝŵƐƚŽĂŶ ĂŐƌĞĞĚŽŶƚƌĂĐƚŽƌͬŽŶƐƵůƚĂŶƚͬŝƚLJĐŽŶĐůƵƐŝŽŶ͘^ƵďŵŝƚƌĞƐƵůƚĂŶƚĐŚĂŶŐĞŽƌĚĞƌƐƚŽƚŚĞŝƚLJĨŽƌ ĂƉƉƌŽǀĂů͘WƌĞƉĂƌĞĂƌĞƉŽƌƚƉƌŽǀŝĚŝŶŐƐƚĂƚĞŵĞŶƚŽĨĐůĂŝŵ͕ĞdžƚƌĂǁŽƌŬ͕ŽƌĐŚĂŶŐĞ͖ďĂĐŬŐƌŽƵŶĚ ůĞĂĚŝŶŐƚŽŝƐƐƵĞ͖ƌĞƐŽůƵƚŝŽŶĂůƚĞƌŶĂƚŝǀĞƐ͖ĂŶĚƌĞƐŽůƵƚŝŽŶƌĞĐŽŵŵĞŶĚĂƚŝŽŶĨŽƌĂĐƚŝŽŶďLJƚŚĞŝƚLJ͘ WƌĞƉĂƌĞ ǁƌŝƚƚĞŶ ũƵƐƚŝĨŝĐĂƚŝŽŶ ĂŶĚ ŝŶĚĞƉĞŶĚĞŶƚ ĐŽƐƚ ĞƐƚŝŵĂƚĞƐ ĨŽƌ ĞĂĐŚ ĐŚĂŶŐĞ ŽƌĚĞƌ ĂĨƚĞƌ ŶĞŐŽƚŝĂƚŝŶŐĐŽƐƚƐǁŝƚŚƚŚĞŽŶƚƌĂĐƚŽƌ͘WƌĞƉĂƌĞĐůĂŝŵƐ͕ĞdžƚƌĂǁŽƌŬ͕ĂŶĚĐŚĂŶŐĞŽƌĚĞƌƐƚŚĂƚƌĞƋƵŝƌĞ ĚĞƐŝŐŶĐƌŝƚĞƌŝĂŵŽĚŝĨŝĐĂƚŝŽŶƐŽƌĐůĂƌŝĨŝĐĂƚŝŽŶƐ͕ŝŶĐůƵĚŝŶŐƌĞǀŝƐŝŽŶƐƚŽƚŚĞĚƌĂǁŝŶŐƐ͕ĚĞƚĂŝůƐ͕ĂŶĚ ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ͘ WƌŽǀŝĚĞƚŚĞůĞĂĚƌŽůĞĂŶĚƐƵƉƉŽƌƚƚŽƚŚĞŝƚLJŝŶƌĞƐŽůǀŝŶŐĐůĂŝŵƐĂŶĚĚŝƐƉƵƚĞƐ͘dŚŝƐƐŚĂůůŝŶĐůƵĚĞ ǁƌŝƚƚĞŶƌĞƐƉŽŶƐĞƐƚŽŽŶƚƌĂĐƚŽƌƐĂŶĚƉƌŝǀĂƚĞƉĂƌƚŝĞƐ͕ŐŝǀŝŶŐĚĞƉŽƐŝƚŝŽŶƐ͕ĂƐƐŝƐƚŝŶŐǁŝƚŚĂƌďŝƚƌĂƚŝŽŶ ĂŶĚůŝƚŝŐĂƚŝŽŶ͕ƐĞƌǀŝŶŐĂƐĂŶĞdžƉĞƌƚǁŝƚŶĞƐƐ͕ŝŶǀĞƐƚŝŐĂƚŝŶŐĐůĂŝŵƐĨŽƌĚĂŵĂŐĞƐďLJƉƌŝǀĂƚĞƐŽƵƌĐĞƐ͕ ĚĞƐŝŐŶƐĞƌǀŝĐĞƐĨŽƌƌĞƉůĂĐĞŵĞŶƚŽĨĚĂŵĂŐĞĚǁŽƌŬ͕ĂŶĚƐĞƌǀŝĐĞƐŵĂĚĞŶĞĐĞƐƐĂƌLJďLJŽŶƚƌĂĐƚŽƌ ĚĞĨĂƵůƚ͘ d^<Ϯ͗WƌŽũĞĐƚůŽƐĞŽƵƚ WƌĞƉĂƌĞĚĞƚĂŝůĞĚƉƌŽũĞĐƚƉƵŶĐŚůŝƐƚƐĂƚĐůŽƐĞŽƵƚŽĨƚŚĞƉƌŽũĞĐƚ͘hƉŽŶĐŽƌƌĞĐƚŝŽŶŽĨĚĞĨŝĐŝĞŶĐŝĞƐ͕ ƐĐŚĞĚƵůĞ͕ĐŽŽƌĚŝŶĂƚĞ͕ĂŶĚĐŽŶĚƵĐƚĂĨŝŶĂůǁĂůŬͲƚŚƌŽƵŐŚƉƌŝŽƌƚŽƚŚĞĂĐĐĞƉƚĂŶĐĞŽĨǁŽƌŬǁŝƚŚƚŚĞ ŝƚLJ͘sĞƌŝĨLJǁŽƌŬ͕ƚĞƐƚŝŶŐ͕ĐůĞĂŶƵƉĂŶĚĚĞŵŽďŝůŝnjĂƚŝŽŶŝƐĐŽŵƉůĞƚĞ͘dǁŽǁŽƌŬŝŶŐĚĂLJƐĂĨƚĞƌĨŝŶĂů ǁĂůŬͲƚŚƌŽƵŐŚ͕ĐŚĞĐŬĂŶĚƐƵďŵŝƚĨŝŶĂůƉĂLJŵĞŶƚƌĞƋƵĞƐƚƐ͘ZĞǀŝĞǁĂŶĚĐĞƌƚŝĨLJƚŚĂƚƚŚĞŽŶƚƌĂĐƚŽƌΖƐ ƉƌŽũĞĐƚƌĞĐŽƌĚĚƌĂǁŝŶŐƐĂŶĚŽƉĞƌĂƚŝŽŶͬŵĂŝŶƚĞŶĂŶĐĞŵĂŶƵĂůƐĂƌĞĐŽŵƉůĞƚĞĂŶĚĂĐĐƵƌĂƚĞ͘ Anticipated Notice to Proceed: November 2024 Project Completion Target: December 2025 Principal Construction Manager Assistant Construction Manager Senior Construction Inspector TASK:RATE:$225/Hr. $165/Hr. $184/Hr.HOURS FEE 33 11 44 9,240$ 115 38 153 32,130$ 15.00% 77 26 102 21,420$ 10.00% 38 13 51 10,710$ 5.00% 38 13 51 10,710$ 5.00% 153 51 204 42,840$ 20.00% 115 38 153 32,130$ 15.00% 0 0 1815 1815 333,960$ 77 26 102 21,420$ 10.00% 153 51 204 42,840$ 20.00% 54 18 72 15,120$ 0 572,520$ City of Carlsbad 6/27/2024 Construction Management and Inspection Services For Fleet Fuel Island Upgrade (RFP24-3450FAC) 1.7 Plans and Specifications Interpretation 1.8 Construction Inspection Services 1.9 Progress Payments Estimated Hours and Proposed Fees: Please note, this cost proposal is an estimate based on an anticipated schedule duration and plans provided by the City. Preliminary project work is anticipated to occur in November 2024, and project closeout in December 2025. If construction duration changes from this anticipated schedule, we will adjust our fee accordingly to accomodate the project. CM & Inspection Services Total 1.1 Preliminary Project Work 1.2 Contract Administration/Management 1.3 Reports and Communications 2.0 Project Closeout 1.4 Photo Documentation 1.10 Contractor's Claims and Change Orders 1.5 Construction Progress Meetings 1.6 Shop Drawings and Submittal Reviews PPPrrPrPPrPrrrPPPPPPPPPPrPPPPPiiininnnnnninnnnncciccicicicccicccccccccccccccpppappppppppppaaapaaaapppaappppppppaaaaaappplllllll oCoCoCoCoCoooCoCoCCooCCoCoCooCoCCoCoCCooCoooCCCCCCCCooCCCoCoCoCoConsnsnsnsnnnnsnsnnnnsnssssnssssstrttttttttrtrrrtrttttrttttttuuucuuuucuucuuccccccccuuuuucuccccccuccccucuucuuuuuuccccttiiiiitititititttttooonononnnnononoonoooonnnoooooonoooooooo MMMMaMaMMaMMaMMMMMMaMaMaMaMaMaMMMMMMMMMMMMMMMMMMMMMMMMMMMMaMMMaaMaMaMMMMMMMMMMMMaaMMMMMMMaMaaannnanananananaaannnaaaaaaaaaaaaaaaaaaaaaggggegegegeggegegggegeggegegegegggggggggegeggggggggggegeeggggggggggggggggggggggrrrrrrrrrrrrr AsAsAsAsAAsAsAAAsAAAsAsAAsAAAAsAsAsAAAAAsAsAAAAAsAsAAAsssAsAAAsAsAAAAAssssAsAAAAAAAAAsssssssAAsssssAAAAAAsssssssiisisisisissisississsssssisssssssssisssssssssisssssssssssiiiststttstttsttssssssssttststttsssssttananananaaaaanaaannnnnaaaaaaaaaaaaaaatttttttttt CoCoCoCoCoooCCoCooCCoCCoCCCCCoCCoCoCoCoCoCoooCoCCooCCCCCCCCCoCooooonsnsnsnsnnnnnsnsnnsnsssssssssstttrttttttrrtrrtrtrtttttttttttucuuuucuuucuccuccccccccccccuuuccccuuuccccucucucuuuucctitiiiiitiiiittttititttttttttiiioooonononononnonnonononnnoonoonnonnooon MMMaMMMMaMaMMMMaMaMaMMMMaMMaMaaMaMMMMMMMMMMaMMMMMMaMMMMMMMMMMMaMMaMMaMaMMMMMMMMMMMMMaaaaaMaMaMaMMaMaaaaMMaaanannanaannaananaannanaaaaaaaaaaaaaaaaagegegeegegegggegegegegegeegeeegegggggggegggeggegggggggggeegegeeeeegggggggeeggggggggggrrrrrrrrr SeSeSSeSeeeeeSeeSSeSeSSeeSSSSSeSeSSSSeSSSSSeeeeeeeeeSeeeeeeeSSSSSeeeeeeeSSSeeSeeeSSSSeeeennnnninininnnininnnnnnnnnniiooooooooooroororrrrrrrroooooroooorr CCCoCoCooCooCoCoCoCoCoCoooCoCoCoCoCooooooooCoCCCCCCooCooCCoCCoCooonnsnsnsnnsnsnssnnnnnsnssssssnsssssssssstttttrttrtrtrrrrtrttrtrtrtrtrttttttrtttrtttrucucucuucuucccccuccccccccuuucuccucuuccctiiittiitiiiitititttttttttttttttttioooooononnononoonoonnnnnnooononnooooonnn InInInInnInnnnnnnnspsspspsppspspspspspspspssppssspppspppppppsssppppececececceceececececeecececccecececeeceececcececececeeeeecececeececectototttotooototottttttttttootottttttoottotttootooooooottoooottoooorrrrrrrrrrrr TATATATATATATATATAAATATAAATAATAAATATTATAATATAATTAAAAATAAATATAAAAAAATTTATAAAAATAAAATAAAATAAAAAAAAAATAAAAAAAAAAAATTAAAAAAAAAATAAAASKSSKSKSKSSKSKSKSKSKSKSKKSKKSKSSSKKKSSKSKSKKKSSSSSKKKSKSKSKSSSSSKSSSSSSKKKSSSSKKKKKKSSSKKKKKKKSSS:RARARRARARAAAAARAARARARARARARARARARARAAAAAARARARARAAAAARAARARAARARRARAARARAAARRRAAAAAAARARRRRRARRRRRARRRAAATETETETETEETETTTETETEEEEEEEEEEE:::::::::$2$2$2$$2$2$2$2$2$$$$2$$$222$22$2222$22$2$$2$2$2$$2$2222$22$22$$2$$2$2$2222222$22$$$$$$$2$2222222$$2$$2$2$22$222$2$$$$2$$22222$$$2$$$222$$$$$22222$22$222$2222$2222$2$$$$$$$$$$2522525225222252522555222525222225252525252522225255525222222555552252525222255522222252555252252222552225225555555555/H/H/H////H//H///////H/H/H/H/H/H////////////H///////HHHHH////////////////////////////////HHHHHHrr.rrrrrrrrrr.rr.rrrrrrrr.........r....r...rr $1$1$1$$$$$$1$1$1$$$$$1$$$$$$$$$$1111$$1$$1$$1$$$$1$1$11$$$1$$$$$$11$1$$$$1$$$$$$$$$1$$11$$$$1$$1$1$$$$$$$$$111$1$$$1$$$$$$$$1$$$$$$1$$$$$$$$$$$$1$1$$$$$$1$$$1$$$$$$$$$$$$$$$65666666566656565656666656565656656565666566565656565656566665665556566566666566666555555566566565666555656566666666655555555665666665555566666665555556666665555566666666665555/H/H/H///H/H//H/H/H/H/H//H/////H/H/H/H/////////////HHH/H/////////////H/H///HHHH/rrrr.rrrrrrrrrrrr.rrrrrrrrrrrrrr...r..r..rrrrr $1$1$1$$$$1$$$$1$1$$$$$$1$1111$1$1$$1$1$1$$1$11$11$$$$$$111111$1$1$1$$11$$$$$$$$1$111111$$$1$111$$$$$$$$$111111$$$$$1$1$1$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$8484848488884848848448484484848484484848484848488488844448484848484848444488484844448884888884448444484484448888888844444484444488888888888888888888448888888488888888444/H/H/HH/HH/H/H/H////H/H/H/H/H/H/H/H/H/////H/H/HH/////////H/H//////H/H///////H//////////////HHr.rrrr.r.r.rrrrrrrrrrrrrr..r..r..rrrrrrrr HOHOHHHOHOHOHOHOHOOOOOOOOOOOOOOOOOOOOOOOOOOOOHHHOHHHHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOURURURURURUURURURRRURURURURURURRURRURRURURRURURRRUUURURRURURRRRRURRUUUUURRURRRRURUURURURRRRRRUURURUUUURUURRUUUUUUUUUURRURUUUUURUUSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS FEFFFFEEEFFFFEFEEEEEEFFFEFEEEEEEEEEEEEEEEEEEEEEEEEEEE 333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333333 11111111111111111111111111111111111 4444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 9,999,9,,9,99,9,,9,9,9,,9,,,,,99999999,999,99,9,9,,,,,,,,9,,,,,2424242444444244242444244444444424244444444444444444444444444444444444244444442244444422224442000000000000000000000000000000000000000000000000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 11111111111111111111111111111111555555555555555 383833833888888383838383883838383883833388388883838388883888833388888888 15111151115111511511115515111111155533333333333333333333333 32323232222223232323223232322222323232223222222222222222232222322,1,,,,111111111,11111,111111,,1,,1,30303030303030000000033300000000303000030300000000000000000000000000000000000000000000000000000000000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 151111511151115115111115511115551111111115151111111111115555.00.0000000000000000000000000.0000.0.0000000000000000%0%0%0%0%0%0%0%%%%0%%0%%0%0%0%%0%0%0%0%0%00%0%%%%%0%%%0%0%%0%%0%%0%0%0%00%%%%%0%0%0%%%%0%0%0%0%00%%%%%0%0%%%%%0%0%00%%%%%%%%0%%%%%%% 77777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777777 262622622666626262622662622222626666266662226666666226266666666666666266666666662666666 101101101010110101101010101011111000000101111000001111111000011110111110000000000000222222222222222222222222222222222222 21212121111212121111222121112221221111111111111111122,4,,444,444444444444444444444444444420202022022020000020202022022020000202200000002020200022000000000000000000000000000000000000000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 1010101101010110110111100000010111110111111000000000000.0.000.00000.000...0000..00000..0.0000.000000%0%0%0%0%%0%%0%0%0%0%0%0%0%0%%%%0%%%0%0%0%%%%%0%0%0%0%000%%%0%%%%%%%%%0%0%%%%0%0%00%%%%%%%%% 38383838383333888883333338883333333388888 1313131111113333111133313311111133333 515151555111115551111111111111 1010111100010011001110001010000101110001010000,7,77,,,77,,77,,,,,,,,,,,,,,,,,,,,,,10101011111101010100111111010001111111100011101101010011111101110001110110011111$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 55.55555555555 00000000000000000000000000000000000%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% 38383338333888883333888 131311113111333311113333 51515555111111551111 10101111000100110010000111000,7,,,,,,7,7,,,77,,77,,,,,,,,,,,,,,101010111111000100111110000111011010100111110$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 5.5 0000%%%%%%%%%%%%%% 151515333 5151 202020444 4242424244242222,8,888,88,88,8,8,,8888,,,,,4040404444000000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 202020.0000%0%0% 111111555 383838 151515333 3232222232232,1,,,,1,11111111111,11,30333330303000000303330$$$$$$$$$$$$$$$$$$$$$ 1155515511151515.0000000000%0%0%0%0%%%%%%0%0% 0000000000000 000000000000000000 181818151515 18888888881118888888181511111111115115155511115 333333333333333333333,3333333333333333333333333333333333 9696969966966999966999996969999969666696696666999999999900000000000000000000000000000000000000000000000000000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 7777777777777777777777777777777777 262626226662626622262666666626662266 101101010000011110101000111111011110022222222222222222222 2121211121111111111111111112211111221221112221 4,4444444444444444,4444444444444444444444202222020200000020000000000000200000220220222220000000022202000$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 1010.0.00%0% 151515155151551551515151515155151515151551515151551515151515515151553333333 51511515151551151151551511111551111115151111111151111551511111155111 2022022222000000000002020000000002202222222000000000220000004444444444444444444444444444444444444 424444424242424222442244442244442222444444444444242,8888888888888888888888,888888888888888,8404404404040040000040404040000000000000000000000040400000004004040040$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 202202222200000000000000000000202000000000022202222222000000000022000000 00000.0000000000000000000000000000000000000000000000%0%0%0%0%0%0%0%0%%%0%0%0%0%%%0%%%0%%0%0%%%0%0%0%0%%%%%%%%%%0%%0%0%0%0%%%0%0%0%0%000%%%0%%%0%0%0%000%%%%%%%0%0%0%00000%%%%%%%%%%%% 5545445454444544454454444544444454545444445544444444455444444455455454555444444454544 18118181818181881881888181811111881181111811888888181 72727272727272727272727272727272277777772727277272222777727272222222222272777772222222272222227772222222777222222722 15151511151551515151151115151515151155151115511115115555555515551555555,1,11,1111,111,1,11111111111111111111111111111112020202020202020202200022220220220202020202020202222222022220202202020202022222200022222222222000000000220222200000222222002222222$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 00000000000000000000000 57775777722,22222222222222222,22222 5252525522522522252525555222555525555525222225222222255525555555555555555500000000000000000000000000000$ $$$$$$$$$$$$$$$$$$$$$$$$$$ 1.11 777 PlPlllllllananans ss ananand dddddddd SpSpSpecececififffffffficicicatatatioioionsnsns IIIntntnterererprprpretetetatatatioioionnn 111111.11.111.88888 CoCCCCCCoCCConsnsnstrttrtrucucuctitttttiiittiiitionoooooonnoooonn IIIIInsnsnspepepectctttttctioiioiiiiiiion nn SeSeSSSSServrvrviciiiccciceeseeseese 1.11.1111111111 9999999999999999 PrPPPPPrPPPPPrPPPPPPPPrPrPPPrrroogogogoogoooooogggggrerreerererrreeeesssssssssssssssssss PPPPPPPPPPPPPPPPPPPPPPPayayaaayyyyyyaaaamemmemmemmmmmeeeeee ttntnnnntntnttttttttttttnttttnnntnnttttnnnnsssssss CMCMCMCCMMCMMCMMCMCCCCCCCCMCCCCCCCCMMMMCCMMM &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&IIIIIIIIInsnsnspepepectctttttttctiiioiiioiiiioiiiiiiiiiiiiinnn SeSSSeSSSSSSSSeSSSSSSSSSSSSSSrvrvrviciciceseses TTTotototalalal 1.11.1..1...11.1111111...1111 PrPrPrPPrPrPPrPrPPrPPPPPPrrrPPPPPPPPrrrrrPPrrrrPPPPPPPrrrrrrrPPPrrrrPPPPPPrrrrPPPrrrPPrreleeeeleeleeleeeeeleeeeeeeeeeeeeeeeeeeeeeeimmmmmmmmimimiiiiimmmmmmmmimiiimmmmmmmmiiimmmmmmmmmmiiimmmmmiimmmmmmmmimmmmininiiiiinnnnnnnnnniiinnnnnnnnninnnnnnninnnnnnnnnninnnnnnnnnninnnnnninnnnnnnnnnnnnnnnnnnnnnnnnararaararaaraarrrrrraraaaarrrrrarrraraaaarrrrrrrarraarrrraarrrrrrrrry yyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy PrPrPrPrPPPPrPrPrPrPPrPPPPPPPrPrPPrPrPrrrrPPPPPPPPrrrPPPPPrPrPrPPPPPPPPPrrrrPPPPPPrrPPPrPPPrrrrojojojjjojjojojoooooooojooooooooooooooooojoojojooooooooooooooooooooeceececececececeecececccceceeecececeecccccecececcceeceeeeecececeeccccccccceeecececececcccccceeeccccccecccceececceccecccccccecccct ttt tttttttttt tttt WoWWoWoWWoWoWWoWoWoWoWoWoWoWWoWoWoWWWWoWWoWWoWoWWoWoWoWoWoWoWWWoooooWooooWWWWWWWWWWWWWWooooooooWWWWoWWWWoWoWWWWWWWWoooooWoooWWWWWoWWWWWWWoooooooWWWWWWoWWWWWWWWWWWWWWWWWWWWWWWWWWWoWoWWWoWWWoorkkkkkkrkkrkkrkrkrkrkrrkrkkkkkrkrrkkkkrrkrkrrrkkkkkkkkrkrrkkkrkrrkkkkkkkkrkkkkkrkkkkk 1...1.1..................2222222222222222222222222222222222 CoCoCCCCCoCoCoCoCCCoCCCCCCCCoooooooooCCCCooooCoCooCooCoCCCoooooCooCoooCCCCooooooCoCoCCoCCoCCCooooooCCCoontnnttnntntnnnnnnnnnntnttttttnnnnnnnnttttnttnnnntntnttntnnnnnnntnnnnnntttnnntttrarrrrrarrraaaraaararararrrrraaaarrrrrraaaaaaaararrraaaaaarrrrrraaaaaaaarraaaaaaarraaaaarraraaaaactccccttttccctttcccccccttcccccccccccccccccccccccc AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAdmdmdmddmddmddmdmdmdmdmdddddmmmmmmmmmmmmdmdmdmdmddddmdmmmmmmmdmmddddmmmmmmmmmmmddddddmdmmmmmmmmmmmdddddmmmmmmmdddddmmmmmmmmmmdmmmminiiiiiiiinnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnisisisisiisssisiiiissssssssssssssssssssssssssssssssssssssssssssssssssssstrtttttttttrtrtrttttttrrrrrrrtrrrrrrtrtrrrttrttrrrrtrtrattattttattataaaaaatttttaaaaaaattaaaaaaaaaaaaaaataaaaaaaaaaaaaaaaaioiiiiiioooiiiiiooioioiooooooioioioiooooooooooooooioooooooooooooooooooooon/n///n/n////n/nnnnnn////n/n/n/n/n/nnn////n/n/n/nnn///n/n/n/n//nn/nnnn////n/n/nnnn////nn/n//n/n/n////////MaMaMaMaMMMaMMMMMMMMMMaMMaMaMaMMMMMMMMMMMMMaMMMMMaMMaMMMaMMMMMMaMMMMMaaaaaaaMMMMMaMMaaaaaaMMMMMMaaaaaMMaMMMMMMMaaaaMMaMaaaaaMMMMaaaaaMMMaaaaaanananananannnnnnnaananananannnnnnnaananannnnnaananaannannnaaaaannannnaaaannnaaaannaaaaaagegeggggeggeeeegeggggegggegeeegggggeggeeegeeeegggggeeegeegggggggggeeeeeeeeeeeggggggeeeeeeeeeeeeeeegeegegeeggggggmemmemememmmmmmmemmmeeeeemmemememmmmmemmmmeeeemmememmmemmmmeeeeeememeeememmmmmmmmmmmmeeeeeeeeememmmmmmmmeeemeeeemmmemmmmeeeeeeeeeemmmeeeeentnnntnnnttttttttnnntnntnttttttttnnnnnttttttntnntnnnnnnnnttttttnnnnnntttnnnttttntntnt 1.....1.1...............333333333333333333333333333333 ReRRRReRRRReRRRReRReRRRRRRReeeeeeeeeeRRRRReeeeeeeRRRRRRReeeeeeeRReeeeeeeepopoppppoppoooopooooooopoppppopppooopopopoopooopopppppppppoooooopooopoooopoppopopopppppppppppppppprtrrtrttrrtrtrrtrtrrtttttttrtrtrttttrtttttttttttttttttsssssssssssss anananananaaannananananaaannnananannananaadddddddddddddddddddddddddddddddddddddd CoCCCoCoCoCoCoCCCoCCoCoCoCoCoCCCCCCoCoCoCCCCCCoCoCCCCCCCCCoCoCoCCCoCoCCCCCoCCoCCCoooooCoCoCoCoCoooCCoCoCooooooCCCoCCCommmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmununununuunuunununnnnnnnnununununununununununnnnnnnnunnnnnnuuicccccciccccccciccciciicciiccccccicccccccccatataaaaaattttttataaaaaattttattaaaaaatttaaaattaaaaaatttttioooooooooooooooooioiioiioooooooooooooonsnsnnnnnsnnnnnssnsnnnnnsnsnnnnssnnnnnsnsnnssssnnsnsnssssss 2.222222222222222222222222222222222 000000000000000000000000000000000000000000000 PrPrPrPrPPPrPrPPrPrPrPrrPPPPPrPPPPPPPrrrrrrPrPrPPPrrrrrPPPPPPrrrrrrrrrPPPPrrrrrrPPrrrPPPPrrrojoojoojojojjjooooojojooooooojooooooooooooojoooooooooooooooooooooooooojeceeceeeecececeeeeccceccccececeeeeeceeeeeeeceeeceeeeeecccttttttttt tttttttttttttttttttttttttttttttttttttttttttttttttt ClCCCCCClCCCClCClllClCCCCCCCCCCCCCCClCClCCCCCllCCClClCCCCCCCCCCCCCCCCCCCCCCClosososososososoooosssososssoooooossssssooooooosoooosooooooosoooooooooooosooooooooooossssseoeeoeooeoooooeoeoeoeoooeoeoeeeeoeooooooooeeeoeoeeeeeeeooeeeoeeeeeeooooeeoeeeooeooeoeoeeeutuutututututttuttutututtttttututututtuuttttttutuuuuuuuttttttuuutttttuuuutuuuuutuutuuuuttttuuuuuututuuutttt 1.1.........................4444444444 PhPhPPPPPPPPPPPPPPPPPPPPPPPototoootooto DoDoDDDDDDDDDDDDDDDDDDDDDDDDcumentntttttttttatatatttattioiiiioooooiioooon 1.111111111111111111111 1011010100100000110111000 CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCoooonooooooonononnonnnnonnooonooooonoooonooooooononoonooonnonnnooooooooooooooooooootrrtrtrtrtrtrtrtrrrrrrrrrttttrrrrrrrrrrrtrrrrttrrrrrrrtrrrrtrtrrrraaacacaaacaaacaccaacaaaaacacacaaaaaaaaaaaaaaacactottttttoottoooooooooootoooooooooooooootooooooor'r'r'r'r'r'r'r'r'r'rrrr'rrr'''rrr'''rrr'rr'rrrrrrrrrrrrr ssssssssss ssssssss ClCCCCCClClCCCCCCCClCllCCCClCCCCCCCCCCCClClCCCCCCCCCCCCCCCCCaiaaiaaiaaiaaiaiaaaaiiaiiaaaaaaimmmmmsmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm and Changge Orders 1.1..555555 CoCoCCCCCnsnstrtrucuctitittttiiitttiionon PPPPPPPPPPPPPPProrogrgrgggesess s MeMeMMMMMMMMMMMeeeMMMMMMMMeeetetininnnnnnngsgsggggg 1.11 666 ShShShopopop DDDrararawiwiwingngngs ss anananddd dddd SuSuSubmbmbmititittatatal ll ReReRRRRRRRRReviviviewewewsss Revised 8/6/2024 Hourly Rate Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Work Days in Month 11 22 22 21 23 21 22 21 19 21 22 21 20 18 Avg Hours Per Work Day 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 Avg Hours Per Work Day 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 Avg Hours Per Work Day 0.0 6.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 7.0 6.0 4.0 Personnel Classifications Hourly Rates Hours Fee Hours:33 66 66 63 69 63 66 63 57 63 66 63 60 54 852 Fee:$7,425 $14,850 $14,850 $14,175 $15,525 $14,175 $14,850 $14,175 $12,825 $14,175 $14,850 $14,175 $13,500 $12,150 $191,700 Hours:11 22 22 21 23 21 22 21 19 21 22 21 20 18 284 Fee:$1,815 $3,630 $3,630 $3,465 $3,795 $3,465 $3,630 $3,465 $3,135 $3,465 $3,630 $3,465 $3,300 $2,970 $46,860 Hours:0 132 154 147 161 147 154 147 133 147 154 147 120 72 1,815 Fee:$0 $24,288 $28,336 $27,048 $29,624 $27,048 $28,336 $27,048 $24,472 $27,048 $28,336 $27,048 $22,080 $13,248 $333,960 572,520$ Total Fees Assistant Construction Manager $165/Hr. Senior Construction Inspector $184/Hr. Totals Principal Construction Manager $225/Hr. 20252024 Proposed Fees Continued: Breakdown of hours and costs by month: Principal Construction Manager Assistant Construction Manager Senior Construction Inspector Page 2 of 2 HouHouHHoHoHouououoHouuHHHHHouHHuuHoHoHouHHHHHooHouuHHHHoHHoorlyrlyrlyrrlyrrlyrlrlllyrlylyyyrrlllylyyyyrlyrlllyyyyrllyrlllllyyrllllyyrllllrllllllRaRaRRRaRRRRRRaRaRRRaRRRRRRaRaRaRaRRaRRRRaRaRaRRaRRRRRRaaRaaaRaRRRaRRRRRaRaRaRRRRRRRaRRRRRtetettetettetettetteteeeetttetetteeeeeeeetetetetttttttetee NovNNoNovNNovNovNovNovNovNovNooNooNoNovNNoNovNNoooNoNovooooovvvvovNovNovoNoNovvNovNNNovNovNoooNooovovNNNNNNNoooooovvvvNNovvNNNNNooovvvvvvNNovvNvvooo DecDecDDDecDecDecDeDeDDecDDeDecDecDeDDeeecDeDecDecDDDDDDDeeeeeececcecccDecDeDDDeeeeececccDDeeeeeDDeeececDeeDDeeeeDDDeeeccc JanJJaJJanaaaanaaaannnnnnnaaaanaanannnnnnnaanaanannJanaaaaannnnnaaaananaaaJJJaaaJJa FebebebbFebebebbFebFeFebFFFFebFFeFeeFeFeebbbbbbeeFebFebbbbebebeeebebebebbFeeeeebebebebbbbFeeeebebebeeeeeeeeee MarMMMMaMMarMarMaMMarMaMMMaMaMarMaMMaMMMarMaMMMMarMMMMaMaMaMaaMarMarrMMMMMMMaaaaaarrrraMMMMaMaMMaaaMarMarMarMarMMMMrMMMMMMMMMMaaMMMaMarMMMMMMMaaaaMMaaa AprAAApAAprAAprAAAAApApAprAAprAAAAAAAprAAAAAprAprppppAprrAprprrAAAprAAAAprpppprrAprAprAAApAApAprAprprprrAAAAAAppprrrrrrAApAAprAprAprrAAAAApppprrrAprppp MayMayMMMayMMaaaMayMayMayMMayMMayMayaMayaMayMMMayMayaaMMMMMaMMayayaaayMaMaMayMMMMMayayaaaaayayyayMayMayyMMMayMMayMaMayaaayMayMayMMayMayMMMMMMaaayyyyMayMMMMMMaaaaaaayyyyyyyyyyy Junuuuunununnnnnnunununnnnuuuunnnnuuunnnn Juluuuuuuuuluul AugAugugugAugAuguuuuguguuuAugAuguuuuuugggggAugAuguuuuuugAuggAuguuuuuAuguuuAuuuAAAuuuuuggggggAugugggggggg Sepeepeeeeepeeeepeeeepepeepeepeeeeepeeepepppepeepeeppppeepeepeppepppeeeeeeppppppepppeppepppeeeeeeppppepep Octctctctctctcttctcctccctttctcctctcccctttttctctccttctccctcttttctccctttttcctttctcccctccc Novoovvooovovovooovovovooovovovvvooooooovvvoovooooovvvoooovvvoovovoovv Decececcececeecceecccecccccccccccccccccccccccccccccccccecccc WorkorkooooWorkWrkkkWorkWorkkWorkWorkWorkWorkWorkWorkWoWorkWorkkWWWWorWoWoorkorkorkWWWWWWWWWWWWoooooorkWWWWooWorkWorkWoWooooooDayDayDayDayDayDayDDDaDaDDDayaDaaayDayayyyyyDayDaDayDDDDDaDDDayayaaaayyyyDDaDaDaDDaaaDDaaDaDaDayDDDDDDDDaaDaaayyyyyyyyyyyys insssinnssinnnsssiiiiniiininininnMonMonMonMMMMonnonnMoMoMMonMonMonMonMonMMoMMMMMMonMonoonooonnnnMMMMMMMMMonMooooooooonnnnnnnMoMMMMMMooooMoonMMoMMMoooonMMMMMoooththtththtththtttttthhtttttttthhhtttthhhh 1111111111111111111111111111 22222222222222222222222222222222222222222222222222222222222222222222 22222222222222222222222222222222222222222222222222222222222222222222222222222 2121212122221121212122211222222221121212111111122222111112222222 2322323232232323232232322323222333232332322332223333323333222223 21221212112121211122221111121121121111211211111112221 22222222222222222222222222222222222222222222 21211112111122121111111111111211111111 199999999999999999999 21111111111111111111111111111111111111 22222222222222222222222222222222 211111111111111111 200000000000 1888888 Avg Avg Avg vvvAvAvggAvgggAvgvvvAvAvggggAvg AAAAA g gggggggggggHourHourHourrrrHourourrrHourrHourHourHouHHoHHouoooooHouuus Pes Pes Pess PePeePes Pss PePeePessssss Pees Ps Pesss PePePes Pes PePPPePePPPer Wor Wor Wor Wor WoWor Wr Wrrr WoWr WrWr Worr WoWr Worrrrr WWWWrWr Wrrr WoWWWr Wr Wrr r WWWr Wr WWWooork Drk Drk Dkkkk DkkkkkDkkk DDDrk Drk Drk Drk rk DDDDayyayayaaaaaayayyyyyy 30303.0333.0.000333.0..003.0333....000033....00033.00 303.03.03.0333.0.003.0333.0.3.0333..000000333...00003.03.0.303.03.033.0333.003.0033.0333.0.03.0333333.0000003333.03.000003.03.00 303.03.033.0330003.033.033.0003.033333.03000000003.0333.030000003.00 303.03.0333.03300033.033.0003.033333.00000003.0333.000000330 30303.0333.0.000333.0..003.03.0333..00003.0333..000..0 30303.033.3.0.003.3.0...0003.0333...000003.0333.000...30303.033..003....003.033...0003.033.00..0 30303.0..000.0..0003.0...00003...000000 303.03.0.0.0000.0.0000....0000....000000 303.03.000000000000..00000.0000000 30303.0000000000000000000000000 303.03.00000000000000000000000000 303.03.0000000000000000000 Avg Avg AvggggggggHourHourHours Pes PesPer WorWorWor Wooor Wooork Drk Drk Dayayayyyy 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 1.01010 Avg AvgAvgHourHourHours PesPesPer WorWorWork Drk Drk Dayayayy 0.00000 6.060600000006.0000 7.07070 7.07070 7.07070 7.07070 7.07070 7.07070 7.07070 7.07070 7.07070 7.07070 6.06060 4.04040 PerPerPersonsonsonnelnelnelClClClassassassifiifiificatcatcationionionsss HouHouHourlyrlyrly RaRaRatestestes HouHouHoursrsrs FeeFeeFee HouHouHours::rs:rs::33 66 6666666666666666666666666 6636666666666666666333 699999999999 6636363636363633636363663636666666 66 63 57 63 66 63 60 54 8528585858528855555252222222222522222222222852 FFFFFFFFFFeeFFFFFFFFFFFFFFF::$7,777777777777777777 425444444444444444444444444444444 $14114444444414444444444444444444444,8588888888888888888888880 $1444444444444444444444444444444444,85888888888888888888888880 $1444444441444414444414444444144444444444444444444,17117111711111111111111111111111111111717777777777777777,,,,,,,,555555555555555 $11$15511$1$1$1$1$1$155555155555511555555155$15$$$$$,525555555555555555555555555 $144444444444444444444,17777111111111171111111117111115 $1444444444444444,85885858858888858888585888888888588888885888580 $144444444444,17771111117717171711177171171111777171715 $1222,8282882888888228288888888888882882888885 $$14,17177171111111171717111171711717171171111117777111175 $14$$,85858858585858585858585858858585858588585858555858585858585850 $14$$,17771711111117171717171717111117777717171111711111777777717111755 $13$$,50505050555555000505050505050505050000005555505555500000005005050000000 $12$$,151515151515111111111111115111100000 $191,700 HouHoHooouooouououuuuuooouuuursrsssrs:sss:rrsssssrrrsrsssss 111111111111111111111111111111111111111111111111111 22222222222222222222222222222222222222222222222222222222222222222222222222222222 2222222222222222222222222222222222222222222222222222222222222222222 21212221121222222212211111111112221222222 232223232232222222232323223233222223333332322332333323223222233223323323 121211212122121212122221222222121111111111111111 222222222222222222222222222222222222222222222222222222222 212122121212112212122122222211221111211111111 19119919191991191191191919111111919111111999911999999999999 212121222112121122122222221121111122111222111111 22222222222222222222222222222222222222222222 222212222121212121212111111221122222 202020222000200000020000022000000000200020222222000000002200 1818111888888888888188888888888118111118888811888 284 FFeFFeeFeeFFeFeeeeeFeeFeeFeeeFeeeeeeeeeFeeeeeeFeeeeeeeeeeeeeeeeeeeeeFeeeeeeFFFeeeeeeeFeeeeFFeeeeeFFFeeeFeFFFFFFeeee::$1,11111111 8888815888888888888 $3,333333333333333333333333333 6666306663666666666666666666666666666666636666666 $3,3333333333333663630666636663666366666666666363636666666666666363 $3,3333333333333 4644646544464444644444464644446 $3,3333337777957997997977979797977799997979979797977977777999999999999997997977999977977779 $3,446446464654444666644644444464444444444444464444644466 $3,630633636363636363636636363636363636366363636366363633663636336363663636333636636363666 $3,44654464646444664646664644444464444444444444444444444464466 $3,131331313135313133511335133331333331333333333333333333333353333311333 $3,46544446546546546446646466664644444444444444444444446444454455 $3,63063636636306306306306363030630363063630636363630306366363630303630630363636363636636306336363636363336636303030 $3,465444446565465464465554656465466646644666444666466465654444444444444446446655 $3,30030000030000003003003003300303000000300000000000000000000000000000000000000303003000033000000000000333000000 $$$2,9709709707070707070707070770700970707070099707070070000000000700000000707707700007700777000007077000 $46,860 HouHoHooouoououuouuouuouououououuuuuuuuoououuuuuuuuuuoouuoououuououuuouuuooours:rrsrsrsssss:rrsrsrssssrsrsrsssrrsrrrrrssrrrrrrsssrrssssssrrr 00000000000000000000000000000000000000000000000000000000000000000000000000000000000000 232132132132323213132323221321321321313213213132132113213213213233133231321331321321133333131313313213133233211333322323133132333132111323313332221322 4154154545415411544411541541541515415441541541541541511154551541541541545151541111545555515155154154545541544111554444441515415541115551554444415444 11414714714744747147147147111471471114744714714714147414474714711111414444414777147147141471444471471414111444477777777714711474471111444714147147771114777171 161616116116116161616116116116111611616161116116161161161161616116166116116116111111611111116161161111111161161161161161116611111166111111166666611 1411471471474474714714714714714147111147147771477714711111414477777114111477471471411114477777711147147147147147411111441111111114477117114 1545154154545415415415415411541541515411541541541541541541541541541111555415415411541545454111115555444445444415445415411111111554544415415411141111554444441151544 1477471147147147471471471471147147441477774777144714777771474477714147444777714414774714714147414747111444777474744411144444411144 13133113131333313333313311113313333133133133333333333133333333313131313111331331131311111333333111333313 14714714777414774711147147147114744471477747714774447147777714744777147474447714774414714714714711474747714711114447771471447141111444411 151515415415445415415451111541545415415454154154545455544541545415155415415415455551544444441541544415415111555155415415411111544444441114441 4141411471477474477147147111471474147471444714714447147714714471471474744471471474414714714471477111141144444771111414741111144447147714471117 121212120120120202022221201212120120111120120122021212012120220122211202121120122221201201120211122212011111202222121212122011111202222002000111 27272727272222222727772772272222727227222222222227222227272772722727277222227227727727777722777227 1,815 FeeFeFeFFFeeFFeFeeeeeeeeeeeeeeeeeeeFFeFFeeFeeFFeFeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee::$0$$$$$$$$$$$$$$$$$0$0$$$$0$$$$$$$$$00$$$$$$$$000$$$0$0$$$$0$$$$$$$$$$$$$$$24242444442424444424444444444444444444444444444444422444444444,28,2,22,2222222222222222,,,,2222222 8 $2888888888888888888888888888888888888888888888888,33,3,,3,3,3,333333333333333333,3,3,3,,,33333,3 6 $277777777777777777777777777777777777777777,04,0,,0,0,000,0000,00000000000000000000000000000,000000,,,,0000000000000 8 $2999999999999999999999999999999999999999999999999999,62,6,6,6,6,6,66666,6,6,6666666,666,6,666666,62,6,6,6266,6,66266666666666666,666666666,6,,6666266666266664 $2777777777777777777777777777777777777777,0400,0,0,0,04,0400,000,04,00000,0000000,000040,00000000004,0,0000,040000040,,,,,000000000 8 $$28$$$888888888888888888888888,33,3,3,33,333,33,333333333333,3333333333333,33,3333333333,3,,3,3333333333336 $$27$$$77777777777,0404,04,04,04,04,004,040404,04,040,0000,040044440400404,04,0044,0404040444444,04,040404444444,0,,000000440000008 $$$24$444,47,47,47,474,44474747,47,474,4744447447,47474777747,447,4747474747,47,4747474744474474447477444444477747777744,4444777744747744444777747747477,4444477777,,2 $$$27$$,04,04,040,040404,0404,04,04040404,04,040000400404444440004004044,04040040,040404,04044440404,0444444,,,000000444440040448 $28$$$$$$,33,3,33,33333333,33333333333333333333333333333333333333333333333,33333333333333333333333333333333,3,,3333333333333333336 $27$$$$$$,0404,04040040404,0404044440404,04000044404444440404040004040444040400040404040404040400004444004044004444444,000000044444448 $22$$$$$,080808080080808080880808000088888088880808080088080800080808080880880808000888888080800000000880888888800000000000000000000 $13$$$$1$1$,24242424242424244242422242444442444244444442422242444444444444444444444444444444444444444444444448888888888888888888888888 $333,960 572572572 5252,52000$$$ $$$$ TotTtTTTal ll FeeFFs AAAssititist ttantCCCo ttnstructititio MMn Manager $16$165/H5/Hr. SenSenSeniorioriorCoCoConstnstnstrucrucructiotiotion InInInspnspnspectectectororor $18$18$184/H4/H4/Hr.rr. TotTotTotalsalsals Principal Construction Manager $225/Hr. 202202202202202202202202022020222022202202202000000220220020222222202202002020220202000202020200002222000000002222002000022200022002002002022222202200022200555555555555555555555555555555555555555555555555555555555555555555555555202202202202202202220202020220222022022202202202020220202000020202002222022022022022020202220220220220202202202220222022022020020222022022222000222022202002222202222022022222220220220222202000220222000002244444444444444444444444444444444444444444444 ProProProProProProProProProooProPProPPProPPPoProPrPrPrPrProProProrooProProPoooProProroPPPrrorrroooooProooProooooopospospospospospospospoposospopopoosposposospospoposososooooosposoposooooooooooooopopoooososspppooposppppooooooossssppoooposededededeeedddedededeeeeddddeedeededeeddeeeeeeeeedddeedded FeeFeeFeeeeFeeFFFFeeFFFeeFeeFFeeFeeFFFFeeeeeeFeeFeeeeFeeFFeFeeFeFeeFeFeFeeeeeFeFeFFeeeeeFeFFeeeesss CsCsss CsCsCsCsCsCCCCsCCCsCsCsCsCCCsCCCssCsssssCssssCCCsCssssCsCssssCCCCCssssCCCCCssCCCsContontonontoononnnnontontontoontotoooononntonttttttntntontnonntoontontoooontooontontontotttoontontinuiiinununununununuinuiinuinninunnuinuuuuinuinuiiuuuuiuuuinued:eed:eed:ed:eded:ed:ddddddeded:ddedddddeded:ed:ededddedd:ed:eededdddd:eeeeeded:eeeeeedd:ed:eeeed:ed:BrBBrBBrrrBBBrBrBrrrrrrrrrrrrrrrrrrrreakeakeakeakeakeakeakkeakeakeakkkkkeakakeakakkkkkkakakeakkeaeaakkkkkakkeeakakakkkkkkkkakaaaaeaaaakkkkkkkaaakkkkkeakdowdowdowdowddowdowdowddowdowdowdowodowdowdowoowowdowwwddowdddodoooodowdowddowowdoowowddddowowoodowowwdddowwdddowddddoooooowwwwwwdooooowwwdownnnonon ononoooooonnnnnnonnnnnononon onnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnof hfffhhf hhhhhhhffhhhhfhfhhhhhfhfhhhffhhffhhfhhhhhhfhourourourourourourururuuuuuururuourruroururuurrruururruruururrrrurourssasasassssas asss aaaasaasaasaasasaaassssaasssssssssssaaaasssssaasandndndnnnndddnddddndndndndddddddndndnddddddddddnddddndnnndddndndnnddddnndddndnnndddndddndcoscoscoscoscococcoscososososcosoooocososccccososossssccossccoscooooooossscooooscosts tsts tstststtstsststststststststststststtttsttstststtstttttstttttssssststttttsby bybybybybbbybybyby bybbbbbybybbbbbbbbybybybybyyyyybbybybyyyyybyyybbybbyyybyybbybybybbyyyyybybyyybymonmonmonmonmomonmmonmmonmonmmmonmonmononmonmonmonmommoomomoononmmooooomoomommoooooomommmommmoommmmoooooomonoooth:thth:th:hh:hhhhth:th:th:thhhhhhhhhthhthtththttthhhhhhtth:::h:hhhhhhhhhhhhth: PrinPrinPrinPrinPPrinnPrinPPrinPrinPPrinPrPrPrPrriririnninncipacipacipapaacipacipaciciccccccipppipippppppppppppl Col Col ColC Cl Col C Coll CCC Co Col CoCCoCl Cll CoCoCooooooonstrnstrstsssstnstsstsstnstnnstnsnsstttttrnstrrnstrnstrnstructiuctiucticccttttiiuccctcttiuuuuuctiucticccccuctuctctttion Mon Mon MMMMMMon MMon MMMMMMMon Mn Mn Mn MMMMMon Mn Mon MMMMMMMMon MMMon MMMononnnnMMMn Managanaganaganaanaanaganaanaaanaganaanaganaganannnnaggggggggggggggggggererereeeeeerrrrrr AssiAssiAssistanstanstant Cot CotConstrnstrnstructiuctiuction Mon Mon Managanaganaggggererer SeniSeniSenior Cor Cor ConstonstonstructructructionionionInspInspInspectoectoectorrr CERTIFICATE OF LIABILITY INSURANCE DATE (MM/DD/YYYY) 08/29/2024 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER CONTACT NAME:K T L Business Insurance Services, Inc.K T L Business Insurance Services, Inc. 322 8th Street Suite # 101 Del Mar CA 92014 PHONE (A/C, No. Ext):(858) 350-0555 FAX (A/C, No):(858) 350-0556 E-MAIL ADDRESS kevin@ktlinsurance.com INSURER(S) AFFORDING COVERAGE NAIC # INSURED Agency Lic#: CA # 0D86601 INSURER A: INSURER B: Hartford Casualty Insurance Company UNDERWRITERS AT LLOYDS 29424 15792 NEW CITY CONSULTING, INC 31959 VIA ARARAT DRIVE BONSALL CA 92003 INSURER C: INSURER D: INSURER E: INSURER F: COVERAGES CERTIFICATE NUMBER:100201 REVISION NUMBER: THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSRLTR TYPE OF INSURANCE ADDLINSRD SUBRWVD POLICY EFFDATE (MM/DD/YY)POLICY EXPDATE (MM/DD/YY) X POLICY NUMBER EACH OCCURRENCE LIMITS $2,000,000ACOMMERCIAL GENERAL LIABILITY PSM0239988663 06/22/24 06/22/25 DAMAGE TO RENTED PREMISES (Ea occurence)$250,000 X CLAIMS MADE X OCCUR 5,000PRIMARY & NON-CONTRIBUTORY MED EXP (Any one person)$ 2,000,000PERSONAL & ADV INJURY $ 4,000,000GEN'L AGGREGATE LIMIT APPLIES PER: PRO- JECT GENERAL AGGREGATE $ 4,000,000POLICYXLOCPRODUCTS-COMP/OP AGG $ OTHER: PSM0239988663 06/22/25 COMBINED SINGLE LIMIT (Ea accident) $ A AUTOMOBILE LIABILITY 06/22/24 $1,000,000 ANY AUTO BODILY INJURY (Per person)$ OWNED AUTOS ONLY SCHEDULED AUTOS BODILY INJURY (Per accident)$ X HIRED AUTOS ONLY X NON-OWNED AUTOS ONLY PROPERTY DAMAGE $(Per accident) $ UMBRELLA LIAB OCCUR EACH OCCURRENCE $ EXCESS LIAB CLAIMS-MADE AGGREGATE $ DED RETENTION $$ B WORKERS COMPENSATION AND EMPLOYERS' LIABILITY 72WECAT3BCT 07/12/24 07/12/25 X PERSTATUTE OTH-ER ANY PROPRIETOR/PARTNER/EXECUTIVEOFFICER/MEMBER EXCLUDED?(Mandatory in NH) Y/N N/A E.L. EACH ACCIDENT $1,000,000 E.L. DISEASE-EA EMPLOYEE $1,000,000 If yes, describe underDESCRIPTION OF OPERATIONS below E.L. DISEASE-POLICY LIMIT $1,000,000 A PROFESSIONAL LIABILITY PSM0239988663 06/22/24 06/22/25 AGGREGATE $2,000,000 EACH CLAIM $2,000,000 CITY OF CARLSBAD ITS OFFICERS, AGENTS, AND EMPLOYEES ARE NAME ADDITIONAL INSURED REGARDING GENERAL LIABILITY. COVERAGE IS PRIMARY & NON-CONTRIBUTORY PER POLICY FORM. 30 DAY NOTICE OF CANCELLATION FOR NON-PAYMENT OF PREMIUM* DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) CERTIFICATE HOLDER CANCELLATION CITY OF CARLSBAD/CMWD C/O EXIGIS INSURANCE COMPLIANCE SERVICES P.O. BOX 947 MURRIETA, CA 92564 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS. Attention: Kevin LevineLic # 0834847 ACORD 25 (2016/03)Certificate #100201 © 1988-2015 ACORD CORPORATION. All right reserved. The ACORD name and logo are registered marks of ACORD Unique Market Reference No. B087523C9N5051, B087523C9N5053 ©1999-2024 CFC Underwriting Ltd, All Rights Reserved AADDITIONALL INSUREDD ENDORSEMENT ATTACHING TO POLICY NUMBER: PSM0239988663 THE INSURED: New City Consulting Inc WITH EFFECT FROM: 22 Aug 2024 It is understood and agreed that the following amendments are made to this Policy: ׁخ The following DDEFINITIONN is added: "Additionall insured"" means City of Carlsbad/CMWD c/o EXIGIS Insurance Compliance Services P.O. Box 947 Murrieta, CA 92564 US ׂخ Where an “Additional insureds” CCONDITION exists in this Policy, additionall insureds are included as a tthirdd party. ׃خ Where an “Additional insureds” CCONDITION does not exist in this Policy, the following CCONDITION is added: Additionall insureds Additionall insureds are indemnified under this Policy as if they were you, but only in respect of sums which they become legally obliged to pay (including liability for claimants' costs and expenses) as a result of any cclaim arising solely out of an act, error or omission committed by yyou or on yyour behalf, provided that had the cclaim been made against you, then yyou would be entitled to indemnity under this Policy. Before wwe indemnify any aadditionall insured, they must prove to us that the cclaim arose solely out of an act, error or omission committed by yyou or on yyour behalf and fully comply with CONDITIONN 1 as if they were yyou. When this CCONDITION applies, it will be primary and non- contributory to the aadditionall insured's own insurance but only if Unique Market Reference No. B087523C9N5051, B087523C9N5053 ©1999-2024 CFC Underwriting Ltd, All Rights Reserved yyou and the aadditionall insured have entered into a contract that contains a provision requiring this. Whilst aadditionall insureds are indemnified under this Policy, any claim made by aadditionall insureds against yyou will be treated by uus as if they were a thirdd party and not as a named insured. 4. The following CCONDITIONN is added: Noticee off cancellationn too additionall insureds If we give yyou notice of cancellation in accordance with the “Cancellation” CCONDITION, wwe will endeavour to provide the same notice of cancellation to aadditionall insureds; however, not doing so will not place any additional liability upon uus. SSUBJECTT OTHERWISEE TOO THEE TERMSS ANDD CONDITIONSS OFF THEE POLICY Authorised Signatory CFC Underwriting Ltd THIS ENDORSEMENT CHANGES THE POLICY. PLEASE READ IT CAREFULLY. Countersigned by Authorized Representative Form WC 04 03 06 (1) Printed in U.S.A. Process Date:08/30/24 Policy Expiration Date:07/12/25 WAIVER OF OUR RIGHT TO RECOVER FROM OTHERS ENDORSEMENT - CALIFORNIA Policy Number:72WECAT3BCT Endorsement Number:002 Effective Date:08/30/24 Effective hour is the same as stated on the Information Pageofthepolicy. Named Insured and Address:NEW CITY CONSULTING INC. 31959 VIA ARARAT DR BONSALL CA 92003 We have the right to recover our payments from anyone liable for an injury covered by this policy. We will not enforce our right against the person or organization named in the Schedule. (This agreement applies only to the extent that you perform work under a written contract that requires you to obtain this agreement from us.) You must maintain payroll records accurately segregating the remuneration of your employees while engaged in the work described in the Schedule. The additional premium for this endorsement shall be 5 % of the California workers' compensation premium otherwise due on such remuneration. SCHEDULE Person or Organization Job Description City of Carlsbad , 1635 FARADAY AVE, CARLSBAD, CA, 92008 1