Вы находитесь на странице: 1из 31

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CRRGCTCURCTVUQHGSWKXCNGPVEKTEWKVUYJKEJOC[TGRTGUGPVIGPGTCVQTUVTCPUHQTOGTUUJQTVUGEVKQPUQHVTCPUOKUUKQP
NKPGUQTQVJGTEQORQPGPVUQHCPGNGEVTKERQYGTU[UVGOQTVJG[OC[TGRTGUGPVCEQORQPGPVD[KVUGNH
4GUKUVCPEG4
4GUKUVCPEGGNGOGPVUCTGWUGFVQTGRTGUGPVCOQPIQVJGTVJKPIU

ENQUKPICPFQRGPKPITGUKUVQTUKPEKTEWKVDTGCMGTU

VQYGTHQQVKPITGUKUVCPEG
CUCETWFGCRRTQZKOCVKQP=?QHCEQORNKECVGFHTGSWGPE[FGRGPFGPV
ITQWPFKPIKORGFCPEG 

TGUKUVCPEGITQWPFKPIQHVTCPUHQTOGTCPFIGPGTCVQTPGWVTCNU

OGVGTKPITGUKUVCPEGKPRNCEGUYJGTGEWTTGPVUQHDTCPEJXQNVCIGUECPPQVDGQDVCKPGFKPQVJGT
YC[UD[VJG'/62

CURCTVUQHGSWKXCNGPVPGVYQTMUGIKPRCTCNNGNYKVJKPFWEVCPEGUVQRTQFWEGRTQRGTHTGSWGPE[
FGRGPFGPVFCORKPI
UGG5GEVKQP 

HQTVJGTGRTGUGPVCVKQPQHNQPINKPGUKPNKIJVPKPIUWTIGUVWFKGUKHPQTGHNGEVKQPEQOGUDCEMHTQOVJG
TGOQVGGPFFWTKPIVJGFWTCVKQPVOCZQHVJGUVWF[

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6JG'/62TGEQIPK\GUVJKUUKORNKHKECVKQPKH

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\GTQKPKVKCNEQPFKVKQPU

VOCZCPF

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 CPF
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VQDGUVQTGFHQTVJGNKPG6JKUNQPI
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UWTIGUVWFKGUCPF

(KI'SWKXCNGPVEKTEWKVQH
NQPINKPGKHPQTGHNGEVKQPUEQOG
DCEMHTQOQVJGTGPF

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VJCVECUGPQFGUCPFKP(KIYQWNFJCXGCEUVGCF[UVCVGEWTTGPVUQWTEGUEQPPGEVGFVQVJGO
7PHQTVWPCVGN[VJG'/62FQGUPQV[GVEQPVCKPVJKUOQFKHKECVKQP


KPVTCPUKGPVTGEQXGT[XQNVCIGUVWFKGUYJGTGVJGWPHCWNVGFNKPGUNGCXKPIVJGUWDUVCVKQPWPFGTUVWF[CTGRTGHGTCDN[
OQFGNNGFVJKUYC[
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KMO
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KUUQNXGFCEEWTCVGN[D[VJG'/62CUNQPICUVJGXCNWGQH4KUPQVWPTGCUQPCDN[UOCNN
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8GT[NCTIGXCNWGUQH4CTGCEEGRVCDNGCPFFQPQVFGITCFGVJGUQNWVKQPQHVJGEQORNGVGPGVYQTM+PVJG
NKOKVKPIECUG44KVUTGEKRTQECNXCNWG4UKORN[IGVUNQUVKP=)?QH'S
 VJCVKUKVYKNNPQVJCXGCP[
KPHNWGPEGQPVJGPGVYQTMUQNWVKQPCUKVUJQWNFDG#RTCEVKECNNKOKVHQTXGT[NCTIGTGUKUVCPEGUKUVJGCRRTQZKOCVG
USWCTGTQQVQHVJGNCTIGUVTGCNPWODGTYJKEJVJGEQORWVGTECPJCPFNG
GI4KHVJGEQORWVGTCEEGRVU
PWODGTUWRVQ 6JKUKUDGECWUGKPVGTOGFKCVGGZRTGUUKQPUQHVJGHQTO4  :CTGEQORWVGFKPVJGUVGCF[UVCVG
UQNWVKQPKPVJGEQPXGTUKQPHTQOKORGFCPEGUVQCFOKVVCPEGU'ZVTGOGN[NCTIGXCNWGUQH4JCXGDGGPWUGFKPVJGRCUV
VQQDVCKPXQNVCIGFKHHGTGPEGUDGVYGGPPQFGUYKVJUWEJOGVGTKPITGUKUVCPEGDTCPEJGUKPPGYGT'/62XGTUKQPU
XQNVCIGFKHHGTGPEGUECPDGQDVCKPGFFKTGEVN[
8GT[NCTIGTGUKUVCPEGUECPDGWUGFVQTGRNCEGVJGUGTKGU4.GNGOGPVUKPU[OOGVTKEOWNVKRJCUGBEKTEWKVU
KHQPGKUQPN[KPVGTGUVGFKPVJGECRCEKVKXGEQWRNKPICOQPIVJGRJCUGUCUGZRNCKPGFKP(KI6JKUVTKEMTGFWEGU
VJGPWODGTQHPQFGUDWVOQTGKORQTVCPVN[KVCXQKFUCEEWTCE[RTQDNGOUYJKEJOC[QEECUKQPCNN[UJQYWRKHVJGB
EKTEWKVTGRTGUGPVUCXGT[UJQTVNKPGUGEVKQP+PVJGUVGCF[UVCVGUQNWVKQPQH'S
 VJGXCNWGQHVJGUGTKGU

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CTGVQQHCTCRCTVKPQTFGTUQHOCIPKVWFG6JKUYQWNFTGSWKTGCEQORCTKUQPQHT.CPFT%KPVJGUVGCF[UVCVG
UQNWVKQPCPFQH)V.CPF%)VKPVJGVTCPUKGPVUQNWVKQP


(KI%QPXGTUKQPQHPQOKPCNBEKTEWKVHQTUJQTVNKPGKPVQBEKTEWKVYKVJECRCEKVKXGEQWRNKPIQPN[

GNGOGPVKUGPVGTGFCU=< ?KPVQ=;?YJGTG=< ?KUVJGKORGFCPEGRGTWPKVNGPIVJCPFVJGNGPIVJQHVJGUJQTV


UGEVKQP(QTCUJQTVNGPIVJKUUOCNNCPF=< ?CEEQTFKPIN[TGNCVKXGN[NCTIG#VVJGUCOGVKOGVJGUJWPV
UWUEGRVCPEGU LT=% ?GPVGTGFKPVQ=;?DGEQOGTGNCVKXGN[UOCNN#UKUFGETGCUGFVJGECRCEKVKXGEQWRNKPIGHHGEV
YKNNGXGPVWCNN[IGVNQUVKPVJGUQNWVKQP+PCRTCEVKECNECUGQHECRCEKVKXGEQWRNKPIDGVYGGPM8EKTEWKVUCV*\
VJKUCEEWTCE[RTQDNGOUJQYGFWRYKVJVJGUJQTVGUVNKPGUGEVKQPDGKPIMOKVYCUFKUEQXGTGFCEEKFGPVCNN[DGECWUG
VJGUKPINGRTGEKUKQPUQNWVKQP
CEEWTCE[CRRTQZFGEKOCNFKIKVU QPCP+$/FKHHGTGFWPGZRGEVGFN[D[HTQO
VJGFQWDNGRTGEKUKQPUQNWVKQP
CEEWTCE[
CRRTQZFGEKOCNFKIKVU (QTTGCUQPCDNGUVGRUK\GUQH)VVJGRTQDNGOKUNGUUUGXGTGKPVJGVTCPUKGPVECNEWNCVKQP
CUECPGCUKN[DGUGGPKHLTKP'S
 KUTGRNCEGFD[)VKP'S
 +PVJKUGZCORNGYKVJ)VzUVJG
XCNWGQHVJGUGTKGUGNGOGPVYQWNFDGUOCNNGTD[CHCEVQTQHYJKNGVJGXCNWGQHVJGUJWPVGNGOGPVYQWNFDGNCTIGT
D[CHCEVQTQH1TKPQVJGTYQTFUCUKOKNCTCEEWTCE[RTQDNGOYQWNFCRRGCTFWTKPIVJGVTCPUKGPVUKOWNCVKQPKH
VJGNKPGYGTGUJQTVGPGFD[CHCEVQTQH
OKPUVGCFQHMO 
8GT[UOCNNXCNWGUQH4FQETGCVGCEEWTCE[RTQDNGOUHQTVJGUCOGTGCUQPCUFKUEWUUGFKPVJGRTGEGFKPI
RCTCITCRJ 8GT[ UOCNN XCNWGU QH 4 ETGCVG XGT[ NCTIG EQPFWEVCPEG XCNWGU 4 KP VJG OCVTKZ =;? QH UVGCF[UVCVG
UQNWVKQPUCPFKPVJGOCVTKZ=)?QHVTCPUKGPVUQNWVKQPUYJKEJECPUYCORQWVVJGGHHGEVUQHQVJGTGNGOGPVUEQPPGEVGF
VQVJCVTGUKUVCPEG8GT[UOCNNXCNWGUQH4JCXGDGGPWUGFKPVJGRCUVRTKOCTKN[VQUGRCTCVGUYKVEJGUUKPEGGCTNKGT
'/62XGTUKQPUCNNQYGFQPN[QPGUYKVEJVQDGEQPPGEVGFVQCPQFGYKVJWPMPQYPXQNVCIG+PPGYGTXGTUKQPUVJKU
NKOKVCVKQPQPVJGNQECVKQPQHUYKVEJGUPQNQPIGTGZKUVUCPFVJGPGGFHQTWUKPIXGT[UOCNNXCNWGUQH4UJQWNFVJGTGHQTG
PQNQPIGTGZKUVKPVJGUGNCVGTXGTUKQPU
*KPVUCDQWVVJGWUGQHUOCNNTGUKUVCPEGUCTGIKXGPKP=?RRDE



'ZCORNGHQT0GVYQTMYKVJ4GUKUVCPEGU
2TCEVKECNGZCORNGUHQTRWTGN[TGUKUVKXGPGVYQTMUCTGTCVJGTNKOKVGF#UKORNGECUGKUUJQYPKP(KI
#UUWOGCFEXQNVCIGUQWTEGYKVJPGINKIKDNGUQWTEGKORGFCPEGKUEQPPGEVGFVQCNKPGVJTQWIJCEKTEWKVDTGCMGTYKVJ
CENQUKPITGUKUVQTQHXCNWG4ENQUG+HYGCTGKPVGTGUVGFKPYJCVJCRRGPUCHVGTENQUKPIQHEQPVCEV+KPVJGHKTUVUJQTVVKOG
RGTKQFFWTKPIYJKEJTGHNGEVKQPUJCXGPQV[GVEQOGDCEMHTQOVJGTGOQVGGPFVJGPVJKUECUGECPDGUVWFKGFYKVJVJG
EKTEWKVQH(KI
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YKNNFQWDNGVQRWCVVJGQRGPTGEGKXKPIGPF6JGTGHQTGPQQXGTXQNVCIGYKNNCRRGCTCUNQPICUEQPVCEV++KUUVKNN
QRGP#TGCNECUGKUQDXKQWUN[OQTGEQORNKECVGFDGECWUG

C PGVYQTM

D GSWKXCNGPVEKTEWKV

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KORGFCPEGJVTCXGNVKOG

!EQPVCEV++YKNNENQUG
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!VJGU[UVGOKUVJTGGRJCUG
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!ENQUKPIQHEQPVCEV+FQGUPQVPGEGUUCTKN[QEEWTCVOCZKOWOXQNVCIG
CRRTQZKOCVGFCUCFEUQWTEGKP(KI
 DWVOC[QEEWTCP[YJGTGQPVJGUKPGYCXG
!VJGUQWTEGKORGFCPEGKUPQV\GTQ
!VJGVJTGGRQNGUKPCVJTGGRJCUGU[UVGOFQPQVENQUGUKOWNVCPGQWUN[CPFDGECWUGQHOCP[QVJGTHCEVQTU
+PCV[RKECNU[UVGOOCZKOWOUYKVEJKPIUWTIGQXGTXQNVCIGUOC[DGVQRWYKVJQWVENQUKPITGUKUVQTU

XGTUWURWKP(KI YJKEJYQWNFV[RKECNN[DGTGFWEGFVQVQRWYKVJENQUKPITGUKUVQTU
XGTUWU
RWKP(KI =?
5GNH+PFWEVCPEG.
/CIPGVKECNN[EQWRNGFEKTEWKVUCTGUQRTGXCNGPVKPRQYGTU[UVGOUUVCTVKPIHTQOVJGIGPGTCVQTVJTQWIJVJG
VTCPUHQTOGTVQVJGOCIPGVKECNN[EQWRNGFRJCUGEQPFWEVQTUQHCVJTGGRJCUGNKPGVJCVKPFWEVCPEGUWUWCNN[CRRGCTCU
EQWRNGF KPFWEVCPEGU  6JGTG CTG ECUGU JQYGXGT QH WPEQWRNGF UGNH KPFWEVCPEGU  #OQPI QVJGT VJKPIU UGNH


KPFWEVCPEGUCTGWUGFVQTGRTGUGPV

C PQTOCNVJTGG
RJCUGEQPPGEVKQP

D HQWTTGCEVQT
EQORGPUCVKQP
UEJGOG

(KI5JWPVTGCEVQTEQPPGEVKQPU


C

UKPINGRJCUGUJWPVTGCEVQTUCPFPGWVTCNTGCEVQTUKPUJWPVEQORGPUCVKQPUEJGOGU
(KI 

RCTVQHFKUEJCTIGEKTEWKVUKPUGTKGUECRCEKVQTUVCVKQPU

GSWKROGPVKP*8&%EQPXGTVGTUVCVKQPUUWEJCUUOQQVJKPITGCEVQTUCPQFGTGCEVQTURCTVUQHHKNVGTU
QPVJGCECPFFEUKFG

KPFWEVKXGRCTVQHUQWTEGKORGFCPEGUKP6JGXGPKPGSWKXCNGPVEKTEWKVUHQTVJGTGUVQHVJGU[UVGO
YJGPRQUKVKXGCPF\GTQUGSWGPEGRCTCOGVGTUCTGKFGPVKECN
(KI 

KPFWEVKXGRCTVQHUKPINGRJCUGPQOKPCNBEKTEWKVUKPVJGUKPINGRJCUGTGRTGUGPVCVKQPQHDCNCPEGF

RQUKVKXGQTPGICVKXGUGSWGPEG QRGTCVKQPQTQH\GTQUGSWGPEGQRGTCVKQP
(KI 

RCTVQHGSWKXCNGPVEKTEWKVHQTNQCFU
(KI GXGPVJQWIJNQCFOQFGNNKPICVJKIJGTHTGSWGPEKGUKU
CXGT[EQORNKECVGFVQRKE=?CPFNQCFUCTGVJGTGHQTGQTHQTQVJGTTGCUQPUQHVGPKIPQTGF

(KI6JGXGPKPGSWKXCNGPVEKTEWKV
YKVJ<RQU<PGI<\GTQ



(KI6[RKECNRQUKVKXGUGSWGPEGPGVYQTMTGRTGUGPVCVKQP

(KI.QCFOQFGNHQTJCTOQPKEUUVWFKGU=?

RCTVQHUWTIGCTTGUVGTOQFGNUVQUKOWNCVGVJGF[PCOKEEJCTCEVGTKUVKEUQHVJGCTTGUVGT=?

RCTVUQHGNGEVTQPKEEKTEWKVU

%JQMGEQKNUWUGFHQTRQYGTNKPGECTTKGTEQOOWPKECVKQPUCTGPQTOCNN[KIPQTGFKPUYKVEJKPIUWTIGUVWFKGU
DWVOC[JCXGVQDGOQFGNNGFKPUVWFKGUKPXQNXKPIJKIJGTHTGSWGPEKGU%WTTGPVVTCPUHQTOGTUCTGWUWCNN[KIPQTGF
WPNGUUVJGEWTTGPVVTCPUHQTOGTKVUGNHKURCTVQHVJGKPXGUVKICVKQP
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EWTTGPVVJTQWIJUCVWTCVKQPGHHGEVU 
6JGGSWCVKQPQHCUGNHKPFWEVCPEG.DGVYGGPPQFGUMCPFOKUUQNXGFCEEWTCVGN[KPVJGCEUVGCF[UVCVG
UQNWVKQPYKVJ'S
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 OWUVDGWRFCVGFHQT

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#RRGPFKZ+VJGVTCRG\QKFCNTWNGKUPWOGTKECNN[UVCDNGCPFVJGUQNWVKQPFQGUVJGTGHQTGPQVTWPCYC[
UGG(KI+
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 TGUWNVKPIHTQOVJG


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CTGWPFCORGFYCXGQUEKNNCVKQPUVTCXGNNKPIDCEMCPFHQTVJDGVYGGPVGTOKPCNUCPF
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