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Home My WebLink AboutContract'ZDEd&KZ d,KWWZZ/'^dKZD^z^dD /DWZKsDEdWKZ:d d,/^'ZDEd͕ĚĂƚĞĚ ĨŽƌƌĞĨĞƌĞŶĐĞƉƵƌƉŽƐĞƐŽŶůǇĂƐ EŽǀĞŵďĞƌϲ͕ϮϬϮϱ͕ ŝƐďǇĂŶĚďĞƚǁĞĞŶ ƚŚĞŝƚǇŽĨZĞŶƚŽŶ;ƚŚĞ͞ŝƚǇ͟Ϳ͕ĂtĂƐŚŝŶŐƚŽŶŵƵŶŝĐŝƉĂůĐŽƌƉŽƌĂƚŝŽŶ͕ĂŶĚ ^ƚĂŶƚĞĐ ŽŶƐƵůƚŝŶŐ ^ĞƌǀŝĐĞƐ/ŶĐ͘ ;͞ŽŶƐƵůƚĂŶƚ͟Ϳ͕Ă EĞǁzŽƌŬŽƌƉŽƌĂƚŝŽŶ͘ dŚĞŝƚǇĂŶĚƚŚĞŽŶƐƵůƚĂŶƚĂƌĞƌĞĨĞƌƌĞĚƚŽ ĐŽůůĞĐƚŝǀĞůǇŝŶƚŚŝƐŐƌĞĞŵĞŶƚĂƐƚŚĞ͞WĂƌƚŝĞƐ͘͟KŶĐĞĨƵůůǇĞǆĞĐƵƚĞĚďǇƚŚĞWĂƌƚŝĞƐ͕ƚŚŝƐŐƌĞĞŵĞŶƚ ŝƐ ĞĨĨĞĐƚŝǀĞĂƐŽĨƚŚĞůĂƐƚĚĂƚĞƐŝŐŶĞĚďǇďŽƚŚƉĂƌƚŝĞƐ͘ ϭ͘ ^ĐŽƉĞŽĨtŽƌŬ͗ŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽƉƌŽǀŝĚĞƉƌŽĨĞƐŝŽŶĂů ƐĞƌǀŝĐĞƐ ĂƐ ƐƉĞĐŝĨŝĞĚŝŶǆŚŝďŝƚ ͕ǁŚŝĐŚŝƐĂƚƚĂĐŚĞĚĂŶĚŝŶĐŽƌƉŽƌĂƚĞĚ ŚĞƌĞŝŶ ĂŶĚ ŵĂǇŚĞƌĞŝŶĂĨƚĞƌďĞƌĞĨĞƌƌĞĚƚŽĂƐƚŚĞ ͞tŽƌŬ͘͟ Ϯ͘ ŚĂŶŐĞƐŝŶ^ĐŽƉĞŽĨtŽƌŬ͗ dŚĞŝƚǇ͕ǁŝƚŚŽƵƚŝŶǀĂůŝĚĂƚŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚ͕ŵĂǇŽƌĚĞƌ ĐŚĂŶŐĞƐƚŽƚŚĞtŽƌŬĐŽŶƐŝƐƚŝŶŐŽĨĂĚĚŝƚŝŽŶƐ͕ĚĞůĞƚŝŽŶƐŽƌŵŽĚŝĨŝĐĂƚŝŽŶƐ͘ŶǇƐƵĐŚĐŚĂŶŐĞƐ ƚŽƚŚĞtŽƌŬƐŚĂůůďĞŽƌĚĞƌĞĚďǇƚŚĞŝƚǇŝŶǁƌŝƚŝŶŐĂŶĚ ƚŚĞŽŵƉĞŶƐĂƚŝŽŶƐŚĂůůďĞ ĞƋƵŝƚĂďůǇĂĚũƵƐƚĞĚĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞƌĂƚĞƐƐĞƚĨŽƌƚŚŝŶ ǆŚŝďŝƚŽƌĂƐŽƚŚĞƌǁŝƐĞŵƵƚƵĂůůǇ ĂŐƌĞĞĚďǇƚŚĞWĂƌƚŝĞƐ͘ ϯ͘ dŝŵĞ ŽĨ WĞƌĨŽƌŵĂŶĐĞ͗ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ĐŽŵŵĞŶĐĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨƚŚĞ ŐƌĞĞŵĞŶƚ ƉƵƌƐƵĂŶƚƚŽƚŚĞƐĐŚĞĚƵůĞ;ƐͿƐĞƚĨŽƌƚŚŝŶǆŚŝďŝƚ͘ůůtŽƌŬ ƐŚĂůůďĞƉĞƌĨŽƌŵĞĚďǇŶŽůĂƚĞƌ ƚŚĂŶ &ĞďƌƵĂƌǇϮϴ͕ϮϬϮϳ͘ ϰ͘ ŽŵƉĞŶƐĂƚŝŽŶ͗ ͘ ŵŽƵŶƚ͘ dŽƚĂů ĐŽŵƉĞŶƐĂƚŝŽŶ ƚŽ ŽŶƐƵůƚĂŶƚ ĨŽƌ tŽƌŬ ƉƌŽǀŝĚĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚĞǆĐĞĞĚΨϮϵϲ͕Ϯϭϴ͘ϴϬ͕ ƉůƵƐĂŶǇĂƉƉůŝĐĂďůĞƐƚĂƚĞĂŶĚůŽĐĂůƐĂůĞƐ ƚĂǆĞƐ͘ ŽŵƉĞŶƐĂƚŝŽŶƐŚĂůůďĞƉĂŝĚ ďĂƐĞĚƵƉŽŶtŽƌŬ ĂĐƚƵĂůůǇƉĞƌĨŽƌŵĞĚĂĐĐŽƌĚŝŶŐƚŽ ƚŚĞƌĂƚĞ;ƐͿŽƌĂŵŽƵŶƚƐƐƉĞĐŝĨŝĞĚŝŶǆŚŝďŝƚ͘dŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŚĂƚĂŶǇŚŽƵƌůǇŽƌ ĨůĂƚƌĂƚĞĐŚĂƌŐĞĚďǇ ŝƚĨŽƌŝƚƐtŽƌŬ ƐŚĂůůƌĞŵĂŝŶůŽĐŬĞĚĂƚƚŚĞŶĞŐŽƚŝĂƚĞĚƌĂƚĞ;ƐͿƵŶůĞƐƐ ŽƚŚĞƌǁŝƐĞĂŐƌĞĞĚƚŽŝŶǁƌŝƚŝŶŐŽƌƉƌŽǀŝĚĞĚŝŶǆŚŝďŝƚ͘ǆĐĞƉƚ ĂƐƐƉĞĐŝĨŝĐĂůůǇƉƌŽǀŝĚĞĚ ŚĞƌĞŝŶ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞƐŽůĞůǇƌĞƐƉŽŶƐŝďůĞĨŽƌƉĂǇŵĞŶƚŽĨĂŶǇƚĂǆĞƐŝŵƉŽƐĞĚ ĂƐĂƌĞƐƵůƚŽĨƚŚĞƉĞƌĨŽƌŵĂŶĐĞĂŶĚƉĂǇŵĞŶƚŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ͘ DĞƚŚŽĚŽĨWĂǇŵĞŶƚ͘KŶĂŵŽŶƚŚůǇŽƌŶŽůĞƐƐƚŚĂŶƋƵĂƌƚĞƌůǇďĂƐŝƐ ĚƵƌŝŶŐĂŶǇƋƵĂƌƚĞƌ ŝŶǁŚŝĐŚtŽƌŬŝƐƉĞƌĨŽƌŵĞĚ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůƐƵďŵŝƚĂǀŽƵĐŚĞƌŽƌŝŶǀŽŝĐĞŝŶĂĨŽƌŵ ƐƉĞĐŝĨŝĞĚďǇƚŚĞŝƚǇ͕ŝŶĐůƵĚŝŶŐĂĚĞƐĐƌŝƉƚŝŽŶŽĨǁŚĂƚtŽƌŬ ŚĂƐ ďĞĞŶƉĞƌĨŽƌŵĞĚ͕ƚŚĞ ŶĂŵĞŽĨƚŚĞƉĞƌƐŽŶŶĞůƉĞƌĨŽƌŵŝŶŐƐƵĐŚtŽƌŬ͕ĂŶĚĂŶǇŚŽƵƌůǇůĂďŽƌĐŚĂƌŐĞƌĂƚĞĨŽƌ CAG-26-033 W'Ϯ K&ϭϬ ƐƵĐŚƉĞƌƐŽŶŶĞů͘dŚĞŽŶƐƵůƚĂŶƚƐŚĂůůĂůƐŽƐƵďŵŝƚĂĨŝŶĂůďŝůůƵƉŽŶĐŽŵƉůĞƚŝŽŶŽĨĂůů tŽƌŬ͘WĂǇŵĞŶƚƐŚĂůůďĞŵĂĚĞďǇƚŚĞŝƚǇĨŽƌtŽƌŬ ƉĞƌĨŽƌŵĞĚǁŝƚŚŝŶƚŚŝƌƚǇ;ϯϬͿ ĐĂůĞŶĚĂƌĚĂǇƐĂĨƚĞƌƌĞĐĞŝƉƚĂŶĚĂƉƉƌŽǀĂůďǇƚŚĞĂƉƉƌŽƉƌŝĂƚĞŝƚǇƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽĨƚŚĞ ǀŽƵĐŚĞƌŽƌŝŶǀŽŝĐĞ͘/ĨƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƉĞƌĨŽƌŵĂŶĐĞ ĚŽĞƐ ŶŽƚŵĞĞƚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ƚŚĞŽŶƐƵůƚĂŶƚǁŝůůĐŽƌƌĞĐƚŽƌŵŽĚŝĨǇŝƚƐƉĞƌĨŽƌŵĂŶĐĞƚŽĐŽŵƉůǇ ǁŝƚŚƚŚĞŐƌĞĞŵĞŶƚ͘dŚĞŝƚǇŵĂǇǁŝƚŚŚŽůĚƉĂǇŵĞŶƚĨŽƌǁŽƌŬƚŚĂƚĚŽĞƐŶŽƚŵĞĞƚƚŚĞ ƌĞƋƵŝƌĞŵĞŶƚƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ͘ ĨĨĞĐƚŽĨWĂǇŵĞŶƚ͘WĂǇŵĞŶƚĨŽƌĂŶǇƉĂƌƚŽĨƚŚĞtŽƌŬƐŚĂůůŶŽƚĐŽŶƐƚŝƚƵƚĞĂǁĂŝǀĞƌďǇ ƚŚĞ ŝƚǇ ŽĨ ĂŶǇ ƌĞŵĞĚŝĞƐ ŝƚ ŵĂǇ ŚĂǀĞ ĂŐĂŝŶƐƚ ƚŚĞ ŽŶƐƵůƚĂŶƚ ĨŽƌĨĂŝůƵƌĞŽĨƚŚĞ ŽŶƐƵůƚĂŶƚ ƚŽ ƉĞƌĨŽƌŵ ƚŚĞ tŽƌŬ Žƌ ĨŽƌ ĂŶǇ ďƌĞĂĐŚ ŽĨ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ďǇ ƚŚĞ ŽŶƐƵůƚĂŶƚ͘ ͘ EŽŶͲƉƉƌŽƉƌŝĂƚŝŽŶŽĨ&ƵŶĚƐ͘/ĨƐƵĨĨŝĐŝĞŶƚĨƵŶĚƐĂƌĞŶŽƚĂƉƉƌŽƉƌŝĂƚĞĚŽƌĂůůŽĐĂƚĞĚĨŽƌ ƉĂǇŵĞŶƚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚĨŽƌĂŶǇĨƵƚƵƌĞĨŝƐĐĂůƉĞƌŝŽĚ͕ƚŚĞŝƚǇƐŚĂůůŶŽƚďĞ ŽďůŝŐĂƚĞĚƚŽŵĂŬĞƉĂǇŵĞŶƚƐĨŽƌtŽƌŬ ŽƌĂŵŽƵŶƚƐŝŶĐƵƌƌĞĚĂĨƚĞƌƚŚĞĞŶĚŽĨƚŚĞ ĐƵƌƌĞŶƚĨŝƐĐĂůƉĞƌŝŽĚ͕ĂŶĚƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůƚĞƌŵŝŶĂƚĞƵƉŽŶƚŚĞĐŽŵƉůĞƚŝŽŶŽĨĂůů ƌĞŵĂŝŶŝŶŐtŽƌŬ ĨŽƌǁŚŝĐŚĨƵŶĚƐĂƌĞĂůůŽĐĂƚĞĚ͘EŽƉĞŶĂůƚǇŽƌĞǆƉĞŶƐĞƐŚĂůůĂĐĐƌƵĞƚŽ ƚŚĞŝƚǇŝŶƚŚĞĞǀĞŶƚƚŚŝƐƉƌŽǀŝƐŝŽŶĂƉƉůŝĞƐ͘ ϱ͘ dĞƌŵŝŶĂƚŝŽŶ͗ ͘ dŚĞŝƚǇƌĞƐĞƌǀĞƐƚŚĞƌŝŐŚƚƚŽƚĞƌŵŝŶĂƚĞƚŚŝƐŐƌĞĞŵĞŶƚĂƚĂŶǇƚŝŵĞ͕ǁŝƚŚŽƌǁŝƚŚŽƵƚ ĐĂƵƐĞďǇŐŝǀŝŶŐƚĞŶ;ϭϬͿĐĂůĞŶĚĂƌĚĂǇƐ͛ŶŽƚŝĐĞƚŽƚŚĞŽŶƐƵůƚĂŶƚŝŶǁƌŝƚŝŶŐ͘/ŶƚŚĞĞǀĞŶƚ ŽĨƐƵĐŚƚĞƌŵŝŶĂƚŝŽŶŽƌƐƵƐƉĞŶƐŝŽŶ͕ĂůůĨŝŶŝƐŚĞĚŽƌƵŶĨŝŶŝƐŚĞĚĚŽĐƵŵĞŶƚƐ͕ĚĂƚĂ͕ƐƚƵĚŝĞƐ͕ ǁŽƌŬƐŚĞĞƚƐ͕ ŵŽĚĞůƐ ĂŶĚ ƌĞƉŽƌƚƐ͕ Žƌ ŽƚŚĞƌ ŵĂƚĞƌŝĂů ƉƌĞƉĂƌĞĚ ďǇ ƚŚĞ ŽŶƐƵůƚĂŶƚ ƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞ ƐƵďŵŝƚƚĞĚƚŽƚŚĞŝƚǇ͕ŝĨĂŶǇĂƌĞƌĞƋƵŝƌĞĚĂƐƉĂƌƚ ŽĨƚŚĞtŽƌŬ͘ ͘ /ŶƚŚĞĞǀĞŶƚƚŚŝƐŐƌĞĞŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚďǇƚŚĞŝƚǇ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞĞŶƚŝƚůĞĚ ƚŽƉĂǇŵĞŶƚĨŽƌĂůůŚŽƵƌƐǁŽƌŬĞĚƚŽƚŚĞĞĨĨĞĐƚŝǀĞĚĂƚĞŽĨƚĞƌŵŝŶ ĂƚŝŽŶ͕ůĞƐƐĂůůƉĂǇŵĞŶƚƐ ƉƌĞǀŝŽƵƐůǇŵĂĚĞ͘/ĨƚŚĞŐƌĞĞŵĞŶƚŝƐƚĞƌŵŝŶĂƚĞĚďǇƚŚĞŝƚǇĂĨƚĞƌƉĂƌƚŝĂůƉĞƌĨŽƌŵĂŶĐĞ ŽĨtŽƌŬĨŽƌǁŚŝĐŚƚŚĞĂŐƌĞĞĚĐŽŵƉĞŶƐĂƚŝŽŶŝƐ ĂĨŝǆĞĚĨĞĞ͕ƚŚĞŝƚǇƐŚĂůůƉĂǇƚŚĞ ŽŶƐƵůƚĂŶƚĂŶĞƋƵŝƚĂďůĞƐŚĂƌĞŽĨƚŚĞĨŝǆĞĚĨĞĞ͘dŚŝƐƉƌŽǀŝƐŝŽŶƐŚĂůůŶŽƚƉƌĞǀĞŶƚƚŚĞ ŝƚǇĨƌŽŵƐĞĞŬŝŶŐĂŶǇůĞŐĂůƌĞŵĞĚŝĞƐŝƚŵĂǇŚĂǀĞĨŽƌƚŚĞǀŝŽůĂƚŝŽŶŽƌŶŽŶƉĞƌĨŽƌŵĂŶĐĞ ŽĨĂŶǇŽĨƚŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚƐƵĐŚĐŚĂƌŐĞƐĚƵĞƚŽƚŚĞŝƚǇƐŚĂůůďĞ 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ƉƌŽĚƵĐƚ͘ ŽŶƐƵůƚĂŶƚ ŐƌĂŶƚƐ ƚŽ ƚŚĞ ŝƚǇ Ă ŶŽŶͲ ĞǆĐůƵƐŝǀĞ͕ƉĞƌƉĞƚƵĂůƌŝŐŚƚĂŶĚůŝĐĞŶƐĞƚŽƵƐĞ͕ƌĞƉƌŽĚƵĐĞ͕ĚŝƐƚƌŝďƵƚĞ͕ĂĚĂƉƚ͕ŵŽĚŝĨǇ͕ĂŶĚ ĚŝƐƉůĂǇĂůůĨŝŶĂůǁŽƌŬƉƌŽĚƵĐƚ ƉƌŽĚƵĐĞĚƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚ͘ dŚĞŝƚǇ͛ƐŽƌŽƚŚĞƌ͛Ɛ ĂĚĂƉƚĂƚŝŽŶ͕ŵŽĚŝĨŝĐĂƚŝŽŶŽƌƵƐĞŽĨƚŚĞĨŝŶĂůǁŽƌŬƉƌŽĚƵĐƚƐŽƚŚĞƌƚŚĂŶĨŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨ ƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞǁŝƚŚŽƵƚůŝĂďŝůŝƚǇƚŽƚŚĞŽŶƐƵůƚĂŶƚ͘dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶ ƐŚĂůůƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϳ͘ ZĞĐŽƌĚ DĂŝŶƚĞŶĂŶĐĞ͗ dŚĞ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ŵĂŝŶƚĂŝŶ ĂĐĐŽƵŶƚƐ ĂŶĚ ƌĞĐŽƌĚƐ͕ ǁŚŝĐŚ ƉƌŽƉĞƌůǇ ƌĞĨůĞĐƚ Ăůů ĚŝƌĞĐƚ ĂŶĚ ŝŶĚŝƌĞĐƚ ĐŽƐƚƐ ĞǆƉĞŶĚĞĚ ĂŶĚ tŽƌŬƉƌŽǀŝĚĞĚŝŶƚŚĞ ƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚŝƐŐƌĞĞŵĞŶƚ ĂŶĚ ƌĞƚĂŝŶƐƵĐŚƌĞĐŽƌĚƐĨŽƌĂƐůŽŶŐĂƐŵĂǇďĞƌĞƋƵŝƌĞĚďǇ ĂƉƉůŝĐĂďůĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞƌĞĐŽƌĚƐƌĞƚĞŶƚŝŽŶůĂǁƐ͕ďƵƚŝŶĂŶǇĞǀĞŶƚŶŽůĞƐƐƚŚĂŶƐŝǆ ǇĞĂƌƐĂĨƚĞƌƚŚĞƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘dŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐƚŽƉƌŽǀŝĚĞĂĐĐĞƐƐ ƚŽĂŶĚĐŽƉŝĞƐŽĨĂŶǇƌĞĐŽƌĚƐƌĞůĂƚĞĚƚŽƚŚŝƐŐƌĞĞŵĞŶƚĂƐƌĞƋƵŝƌĞĚďǇƚŚĞŝƚǇƚŽĂƵĚŝƚ ĞǆƉĞŶĚŝƚƵƌĞƐĂŶĚĐŚĂƌŐĞƐĂŶĚͬŽƌƚŽĐŽŵƉůǇǁŝƚŚƚŚĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞWƵďůŝĐZĞĐŽƌĚƐĐƚ ;ŚĂƉƚĞƌ ϰϮ͘ϱϲ ZtͿ͘ dŚĞ ƉƌŽǀŝƐŝŽŶƐ ŽĨ ƚŚŝƐ ƐĞĐƚŝŽŶ ƐŚĂůů ƐƵƌǀŝǀĞ ƚŚĞ ĞǆƉŝƌĂƚŝŽŶ Žƌ ƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϴ͘ WƵďůŝĐZĞĐŽƌĚƐŽŵƉůŝĂŶĐĞ͗dŽƚŚĞĨƵůůĞǆƚĞŶƚƚŚĞŝƚǇĚĞƚĞƌŵŝŶĞƐŶĞĐĞƐƐĂƌǇƚŽĐŽŵƉůǇ ǁŝƚŚƚŚĞtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞWƵďůŝĐZĞĐŽƌĚƐĐƚ͕ŽŶƐƵůƚĂŶƚƐŚĂůůŵĂŬĞĂĚƵĞĚŝůŝŐĞŶƚƐĞĂƌĐŚ ŽĨ Ăůů ƌĞĐŽƌĚƐ ŝŶ ŝƚƐ ƉŽƐƐĞƐƐŝŽŶ Žƌ ĐŽŶƚƌŽů ƌĞůĂƚŝŶŐƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĂŶĚ ƚŚĞ tŽƌŬ͕ ŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ĞͲŵĂŝů͕ĐŽƌƌĞƐƉŽŶĚĞŶĐĞ͕ŶŽƚĞƐ͕ƐĂǀĞĚƚĞůĞƉŚŽŶĞŵĞƐƐĂŐĞƐ͕ ƌĞĐŽƌĚŝŶŐƐ͕ƉŚŽƚŽƐ͕ŽƌĚƌĂǁŝŶŐƐĂŶĚƉƌŽǀŝĚĞƚŚĞŵƚŽƚŚĞŝƚǇĨŽƌƉƌŽĚƵĐƚŝŽŶ͘/ŶƚŚĞĞǀĞŶƚ ŽŶƐƵůƚĂŶƚ ďĞůŝĞǀĞƐ ƐĂŝĚ ƌĞĐŽƌĚƐ ŶĞĞĚ ƚŽ ďĞ ƉƌŽƚĞĐƚĞĚ ĨƌŽŵ ĚŝƐĐůŽƐƵƌĞ͕ ŝƚ ŵĂǇ͕ Ăƚ ŽŶƐƵůƚĂŶƚ͛ƐŽǁŶĞǆƉĞŶƐĞ͕ƐĞĞŬũƵĚŝĐŝĂůƉƌŽƚĞĐƚŝŽŶ͘ŽŶƐƵůƚĂŶƚƐŚĂůůŝŶĚĞŵŶŝĨǇ͕ĚĞĨĞŶĚ͕ ĂŶĚŚŽůĚŚĂƌŵůĞƐƐƚŚĞŝƚǇĨŽƌĂůůĐŽƐƚƐ͕ŝŶĐůƵĚŝŶŐĂƚƚŽƌŶĞǇƐ͛ĨĞĞƐ͕ĂƚƚĞŶĚĂŶƚƚŽĂŶǇĐůĂŝŵ ŽƌůŝƚŝŐĂƚŝŽŶƌĞůĂƚĞĚƚŽĂWƵďůŝĐZĞĐŽƌĚƐĐƚƌĞƋƵĞƐƚĨŽƌǁŚŝĐŚŽŶƐƵůƚĂŶƚŚĂƐƌĞƐƉŽŶƐŝǀĞ ƌĞĐŽƌĚƐĂŶĚĨŽƌǁŚŝĐŚŽŶƐƵůƚĂŶƚŚĂƐǁŝƚŚŚĞůĚƌĞĐŽƌĚƐŽƌŝŶĨŽƌŵĂƚŝŽŶĐŽŶƚĂŝŶĞĚƚŚĞƌĞŝŶ͕ Žƌ ŶŽƚ ƉƌŽǀŝĚĞĚ ƚŚĞŵ ƚŽ ƚŚĞ ŝƚǇ ŝŶ Ă ƚŝŵĞůǇ ŵĂŶŶĞƌ͘ ŽŶƐƵůƚĂŶƚƐŚĂůů ƉƌŽĚƵĐĞ ĨŽƌ ĚŝƐƚƌŝďƵƚŝŽŶĂŶǇĂŶĚĂůůƌĞĐŽƌĚƐƌĞƐƉŽŶƐŝǀĞƚŽƚŚĞWƵďůŝĐZĞĐŽƌ ĚƐĐƚƌĞƋƵĞƐƚŝŶĂƚŝŵĞůǇ ŵĂŶŶĞƌ͕ƵŶůĞƐƐƚŚŽƐĞƌĞĐŽƌĚƐĂƌĞƉƌŽƚĞĐƚĞĚďǇĐŽƵƌƚŽƌĚĞƌ͘ dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶ ƐŚĂůůƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϵ͘ /ŶĚĞƉĞŶĚĞŶƚŽŶƚƌĂĐƚŽƌ ZĞůĂƚŝŽŶƐŚŝƉ͗ ͘ dŚĞŽŶƐƵůƚĂŶƚŝƐƌĞƚĂŝŶĞĚďǇƚŚĞŝƚǇŽŶůǇĨŽƌƚŚĞƉƵƌƉŽƐĞƐĂŶĚƚŽƚŚĞĞǆƚĞŶƚƐĞƚĨŽƌƚŚ ŝŶƚŚŝƐŐƌĞĞŵĞŶƚ͘dŚĞŶĂƚƵƌĞŽĨƚŚĞƌĞůĂƚŝŽŶƐŚŝƉďĞƚǁĞĞŶƚŚĞŽŶƐƵůƚĂŶƚĂŶĚƚŚĞŝƚǇ W'ϰ K&ϭϬ ĚƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ ŽĨ ƚŚĞ tŽƌŬ ƐŚĂůů ďĞ ƚŚĂƚ ŽĨ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ĐŽŶƚƌĂĐƚŽƌ͕ ŶŽƚ ĞŵƉůŽǇĞĞ͘dŚĞŽŶƐƵůƚĂŶƚ͕ŶŽƚƚŚĞŝƚǇ͕ƐŚĂůůŚĂǀĞƚŚĞƉŽǁĞƌƚŽĐŽŶƚƌŽůĂŶĚĚŝƌĞĐƚƚŚĞ ĚĞƚĂŝůƐ͕ŵĂŶŶĞƌŽƌŵĞĂŶƐŽĨtŽƌŬ͘^ƉĞĐŝĨŝĐĂůůǇ͕ďƵƚŶŽƚďǇŵĞĂŶƐŽĨůŝŵŝƚĂƚŝŽŶ͕ƚŚĞ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ŚĂǀĞ ŶŽ ŽďůŝŐĂƚŝŽŶ ƚŽ ǁŽƌŬ ĂŶǇ ƉĂƌƚŝĐƵůĂƌ ŚŽƵƌƐ Žƌ ƉĂƌƚŝĐƵůĂƌ ƐĐŚĞĚƵůĞ͕ƵŶůĞƐƐŽƚŚĞƌǁŝƐĞŝŶĚŝĐĂƚĞĚŝŶƚŚĞ^ĐŽƉĞŽĨtŽƌŬŽƌǁŚĞƌĞƐĐŚĞĚƵůŝŶŐŽĨ ĂƚƚĞŶĚĂŶĐĞŽƌƉĞƌĨŽƌŵĂŶĐĞŝƐŵƵƚƵĂůůǇĂƌƌĂŶŐĞĚĚƵĞƚŽƚŚĞŶĂƚƵƌĞŽĨƚŚĞtŽƌŬ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůƌĞƚĂŝŶƚŚĞƌŝŐŚƚƚŽĚĞƐŝŐŶĂƚĞƚŚĞŵĞĂŶƐŽĨƉĞƌĨŽƌŵŝŶŐƚŚĞtŽƌŬ ĐŽǀĞƌĞĚďǇƚŚŝƐĂŐƌĞĞŵĞŶƚ͕ĂŶĚƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůďĞĞŶƚŝƚůĞĚƚŽĞŵƉůŽǇŽƚŚĞƌ ǁŽƌŬĞƌƐĂƚƐƵĐŚĐŽŵƉĞŶƐĂƚŝŽŶĂŶĚƐƵĐŚŽƚŚĞƌĐŽŶĚŝƚŝŽŶƐĂƐŝƚŵĂǇĚĞĞŵƉƌŽƉĞƌ͕ 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/ƚŝƐĨƵƌƚŚĞƌƐƉĞĐŝĨŝĐĂůůǇĂŶĚĞǆƉƌĞƐƐůǇƵŶĚĞƌƐƚŽŽĚƚŚĂƚƚŚĞŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶƉƌŽǀŝĚĞĚŝŶ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĐŽŶƐƚŝƚƵƚĞ ŽŶƐƵůƚĂŶƚ͛Ɛ ǁĂŝǀĞƌ ŽĨ ŝŵŵƵŶŝƚǇ ƵŶĚĞƌ ƚŚĞ /ŶĚƵƐƚƌŝĂů /ŶƐƵƌĂŶĐĞĐƚ͕ZtdŝƚůĞϱϭ͕ƐŽůĞůǇĨŽƌƚŚĞƉƵƌƉŽƐĞƐŽĨƚŚŝƐŝŶĚĞŵŶŝĨŝĐĂƚŝŽŶ͘dŚĞWĂƌƚŝĞƐ ŚĂǀĞŵƵƚƵĂůůǇŶĞŐŽƚŝĂƚĞĚĂŶĚĂŐƌĞĞĚƚŽƚŚŝƐǁĂŝǀĞƌ͘dŚĞƉƌŽǀŝƐŝŽŶƐŽĨƚŚŝƐƐĞĐƚŝŽŶƐŚĂůů ƐƵƌǀŝǀĞƚŚĞĞǆƉŝƌĂƚŝŽŶŽƌƚĞƌŵŝŶĂƚŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ϭϭ͘ 'ŝĨƚƐĂŶĚŽŶĨůŝĐƚƐ͗ dŚĞŝƚǇ͛ƐŽĚĞŽĨƚŚŝĐƐĂŶĚtĂƐŚŝŶŐƚŽŶ^ƚĂƚĞůĂǁƉƌŽŚŝďŝƚŝƚǇ ĞŵƉůŽǇĞĞƐĨƌŽŵƐŽůŝĐŝƚŝŶŐ͕ĂĐĐĞƉƚŝŶŐ͕ŽƌƌĞĐĞŝǀŝŶŐĂŶǇŐŝĨƚ͕ŐƌĂƚƵŝƚǇŽƌĨĂǀŽƌĨƌŽŵĂŶǇ ƉĞƌƐŽŶ͕ĨŝƌŵŽƌĐŽƌƉŽƌĂƚŝŽŶŝŶǀŽůǀĞĚŝŶĂĐŽŶƚƌĂĐƚŽƌƚƌĂŶƐĂĐƚŝŽŶ͘dŽĞŶƐƵƌĞĐŽŵƉůŝĂŶĐĞ ǁŝƚŚƚŚĞŝƚǇ͛Ɛ ŽĚĞŽĨƚŚŝĐƐĂŶĚƐƚĂƚĞůĂǁ͕ƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůŶŽƚŐŝǀĞĂŐŝĨƚŽĨĂŶǇŬŝŶĚ ƚŽŝƚǇĞŵƉůŽǇĞĞƐŽƌŽĨĨŝĐŝĂůƐ͘ ŽŶƐƵůƚĂŶƚĂůƐŽĐŽŶĨŝƌŵƐƚŚĂƚŽŶƐƵůƚĂŶƚĚŽĞƐŶŽƚŚĂǀĞĂ ďƵƐŝŶĞƐƐŝŶƚĞƌĞƐƚŽƌĂĐůŽƐĞĨĂŵŝůǇƌĞůĂƚŝŽŶƐŚŝƉǁŝƚŚĂŶǇŝƚǇŽĨĨŝĐĞƌŽƌĞŵƉůŽǇĞĞǁŚŽǁĂƐ͕ ŝƐ͕ Žƌ ǁŝůů ďĞ ŝŶǀŽůǀĞĚ ŝŶ ƐĞůĞĐƚŝŶŐ ƚŚĞ ŽŶƐƵůƚĂŶƚ͕ ŶĞŐŽƚŝĂƚŝŶŐ Žƌ ĂĚŵŝŶŝƐƚĞƌŝŶŐ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͕ŽƌĞǀĂůƵĂƚŝŶŐƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞtŽƌŬ͘ ϭϮ͘ ŝƚǇ ŽĨ ZĞŶƚŽŶ ƵƐŝŶĞƐƐ >ŝĐĞŶƐĞ͗ hŶůĞƐƐ ĞǆĞŵƉƚĞĚ ďǇ ƚŚĞ ZĞŶƚŽŶ DƵŶŝĐŝƉĂů ŽĚĞ͕ ŽŶƐƵůƚĂŶƚƐŚĂůůŽďƚĂŝŶĂŝƚǇŽĨZĞŶƚŽŶƵƐŝŶĞƐƐ>ŝĐĞŶƐĞƉƌŝŽƌƚŽƉĞƌĨŽƌŵŝŶŐĂŶǇtŽƌŬ ĂŶĚ ŵĂŝŶƚĂŝŶ ƚŚĞ ďƵƐŝŶĞƐƐ ůŝĐĞŶƐĞ ŝŶ ŐŽŽĚ ƐƚĂŶĚŝŶŐ ƚŚƌŽƵŐŚŽƵƚ ƚŚĞ ƚĞƌŵ ŽĨ ƚŚŝƐ ĂŐƌĞĞŵĞŶƚǁŝƚŚƚŚĞŝƚǇ͘ /ŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐĂĐƋƵŝƌŝŶŐĂĐŝƚǇďƵƐŝŶĞƐƐůŝĐĞŶƐĞ ĐĂŶďĞĨŽƵŶĚĂƚ͗ ŚƚƚƉƐ͗ͬͬǁǁǁ͘ƌĞŶƚŽŶǁĂ͘ŐŽǀͬdĂǆ /ŶĨŽƌŵĂƚŝŽŶƌĞŐĂƌĚŝŶŐ^ƚĂƚĞďƵƐŝŶĞƐƐůŝĐĞŶƐŝŶŐƌĞƋƵŝƌĞŵĞŶƚƐĐĂŶďĞĨŽƵŶĚĂƚ͗ ŚƚƚƉƐ͗ͬͬĚŽƌ͘ǁĂ͘ŐŽǀͬĚŽŝŶŐͲďƵƐŝŶĞƐƐͬƌĞŐŝƐƚĞƌͲŵǇͲďƵƐŝŶĞƐƐ ϭϯ͘ /ŶƐƵƌĂŶĐĞ͗ ŽŶƐƵůƚĂŶƚƐŚĂůůƐĞĐƵƌĞĂŶĚŵĂŝŶƚĂŝŶ͗ ͘ ŽŵŵĞƌĐŝĂůŐĞŶĞƌĂůůŝĂďŝůŝƚǇŝŶƐƵƌĂŶĐĞŝŶƚŚĞŵŝŶŝŵƵŵĂŵŽƵŶƚƐŽĨΨϭ͕ϬϬϬ͕ϬϬϬĨŽƌ ĞĂĐŚŽĐĐƵƌƌĞŶĐĞͬΨϮ͕ϬϬϬ͕ϬϬϬĂŐŐƌĞŐĂƚĞĨŽƌƚŚĞdĞƌŵŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͘ ͘ /Ŷ ƚŚĞ ĞǀĞŶƚ ƚŚĂƚ tŽƌŬ ĚĞůŝǀĞƌĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ĞŝƚŚĞƌ ĚŝƌĞĐƚůǇ Žƌ ŝŶĚŝƌĞĐƚůǇŝŶǀŽůǀĞŽƌƌĞƋƵŝƌĞWƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐ͕WƌŽĨĞƐƐŝŽŶĂů>ŝĂďŝůŝƚǇ͕ƌƌŽƌƐĂŶĚ KŵŝƐƐŝŽŶƐ ĐŽǀĞƌĂŐĞ ƐŚĂůů ďĞ ƉƌŽǀŝĚĞĚ ǁŝƚŚ ŵŝŶŝŵƵŵ ůŝŵŝƚƐ ŽĨ Ψϭ͕ϬϬϬ͕ϬϬϬ ƉĞƌ ŽĐĐƵƌƌĞŶĐĞ͘ΗWƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐΗ͕ ĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨƚŚŝƐƐĞĐƚŝŽŶ͕ƐŚĂůůŵĞĂŶĂŶǇ tŽƌŬ ƉƌŽǀŝĚĞĚ ďǇ Ă ůŝĐĞŶƐĞĚ ƉƌŽĨĞƐƐŝŽŶĂů Žƌ tŽƌŬ ƚŚĂƚ ƌĞƋƵŝƌĞƐ Ă ƉƌŽĨĞƐƐŝŽŶĂů ƐƚĂŶĚĂƌĚŽĨĐĂƌĞ͘ ͘ tŽƌŬĞƌƐ͛ĐŽŵƉĞŶƐĂƚŝŽŶĐŽǀĞƌĂŐĞ͕ĂƐƌĞƋƵŝƌĞĚďǇƚŚĞ/ŶĚƵƐƚƌŝĂů/ŶƐƵƌĂŶĐĞůĂǁƐŽĨƚŚĞ ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶ͕ƐŚĂůůĂůƐŽďĞƐĞĐƵƌĞĚ͘ ͘ ŽŵŵĞƌĐŝĂůƵƚŽŵŽďŝůĞ>ŝĂďŝůŝƚǇĨŽƌŽǁŶĞĚ͕ůĞĂƐĞĚ͕ŚŝƌĞĚŽƌŶŽŶͲŽǁŶĞĚ͕ůĞĂƐĞĚ͕ŚŝƌĞĚ ŽƌŶŽŶͲŽǁŶĞĚ͕ǁŝƚŚŵŝŶŝŵƵŵůŝŵŝƚƐŽĨΨϭ͕ϬϬϬ͕ϬϬϬƉĞƌŽĐĐƵƌƌĞŶĐĞĐŽŵďŝŶĞĚƐŝŶŐůĞ W'ϲ K&ϭϬ ůŝŵŝƚ͕ŝĨƚŚĞƌĞǁŝůůďĞĂŶǇƵƐĞŽĨŽŶƐƵůƚĂŶƚ͛ƐǀĞŚŝĐůĞƐŽŶƚŚĞŝƚǇ͛ƐWƌĞŵŝƐĞƐďǇŽƌŽŶ ďĞŚĂůĨŽĨƚŚĞŝƚǇ͕ďĞǇŽŶĚŶŽƌŵĂůĐŽŵŵƵƚĞƐ͘ ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůŶĂŵĞƚŚĞŝƚǇĂƐĂŶĚĚŝƚŝŽŶĂů/ŶƐƵƌĞĚŽŶŝƚƐĐŽŵŵĞƌĐŝĂůŐĞŶĞƌĂů ůŝĂďŝůŝƚǇƉŽůŝĐǇŽŶĂŶŽŶͲĐŽŶƚƌŝďƵƚŽƌǇƉƌŝŵĂƌǇďĂƐŝƐ͘dŚĞŝƚǇ͛ƐŝŶƐƵƌĂŶĐĞƉŽůŝĐŝĞƐƐŚĂůů ŶŽƚďĞĂƐŽƵƌĐĞĨŽƌƉĂǇŵĞŶƚŽĨĂŶǇŽŶƐƵůƚĂŶƚůŝĂďŝůŝƚǇ͕ŶŽƌƐŚĂůůƚŚĞŵĂŝŶƚĞŶĂŶĐĞŽĨ ĂŶǇ ŝŶƐƵƌĂŶĐĞ ƌĞƋƵŝƌĞĚ ďǇ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ďĞ ĐŽŶƐƚƌƵĞĚ ƚŽ ůŝŵŝƚƚŚĞ ůŝĂďŝůŝƚǇ ŽĨ ŽŶƐƵůƚĂŶƚƚŽƚŚĞĐŽǀĞƌĂŐĞƉƌŽǀŝĚĞĚďǇƐƵĐŚŝŶƐƵƌĂŶĐĞŽƌŽƚŚĞƌǁŝƐĞůŝŵŝƚƚŚĞŝƚǇ͛Ɛ ƌĞĐŽƵƌƐĞƚŽĂŶǇƌĞŵĞĚǇĂǀĂŝůĂďůĞĂƚůĂǁŽƌŝŶĞƋƵŝƚǇ͘ &͘ ^ƵďũĞĐƚƚŽƚŚĞŝƚǇ͛ƐƌĞǀŝĞǁĂŶĚĂĐĐĞƉƚĂŶĐĞ͕ĂĐĞƌƚŝĨŝĐĂƚĞŽĨŝŶƐƵƌĂŶĐĞƐŚŽǁŝŶŐƚŚĞ ƉƌŽƉĞƌĞŶĚŽƌƐĞŵĞŶƚƐ͕ƐŚĂůůďĞĚĞůŝǀĞƌĞĚƚŽƚŚĞŝƚǇďĞĨŽƌĞƉĞƌĨŽƌŵŝŶŐƚŚĞtŽƌŬ͘ '͘ ŽŶƐƵůƚĂŶƚƐŚĂůůƉƌŽǀŝĚĞƚŚĞŝƚǇǁŝƚŚǁƌŝƚƚĞŶŶŽƚŝĐĞŽĨĂŶǇƉŽůŝĐǇĐĂŶĐĞůůĂƚŝŽŶ͕ǁŝƚŚŝŶ ƚǁŽ;ϮͿďƵƐŝŶĞƐƐĚĂǇƐŽĨƚŚĞŝƌƌĞĐĞŝƉƚŽĨƐƵĐŚŶŽƚŝĐĞ͘ ϭϰ͘ ĞůĂǇƐ͗ ŽŶƐƵůƚĂŶƚ ŝƐ ŶŽƚ ƌĞƐƉŽŶƐŝďůĞ ĨŽƌ ĚĞůĂǇƐ ĐĂƵƐĞĚ ďǇ ĨĂĐƚŽƌƐ ďĞǇŽŶĚ ƚŚĞ ŽŶƐƵůƚĂŶƚ͛ƐƌĞĂƐŽŶĂďůĞĐŽŶƚƌŽů͘tŚĞŶƐƵĐŚĚĞůĂǇƐďĞǇŽŶĚƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƌĞĂƐŽŶĂďůĞ ĐŽŶƚƌŽůŽĐĐƵƌ͕ƚŚĞŝƚǇĂŐƌĞĞƐƚŚĞŽŶƐƵůƚĂŶƚŝƐŶŽƚƌĞƐƉŽŶƐŝďůĞĨŽƌĚĂŵĂŐĞƐ͕ŶŽƌƐŚĂůůƚŚĞ ŽŶƐƵůƚĂŶƚďĞĚĞĞŵĞĚƚŽďĞŝŶĚĞĨĂƵůƚŽĨƚŚĞŐƌĞĞŵĞŶƚ͘ ϭϱ͘ ^ƵĐĐĞƐƐŽƌƐĂŶĚƐƐŝŐŶƐ͗ EĞŝƚŚĞƌƚŚĞŝƚǇŶŽƌƚŚĞŽŶƐƵůƚĂŶƚƐŚĂůůĂƐƐŝŐŶ͕ƚƌĂŶƐĨĞƌŽƌ ĞŶĐƵŵďĞƌĂŶǇƌŝŐŚƚƐ͕ĚƵƚŝĞƐŽƌŝŶƚĞƌĞƐƚƐĂĐĐƌƵŝŶŐĨƌŽŵƚŚŝƐŐƌĞĞŵĞŶƚ ǁŝƚŚŽƵƚ ƚŚĞ ǁƌŝƚƚĞŶĐŽŶƐĞŶƚŽĨƚŚĞŽƚŚĞƌ͘ ϭϲ͘ EŽƚŝĐĞƐ͗ ŶǇŶŽƚŝĐĞƌĞƋƵŝƌĞĚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚǁŝůůďĞŝŶǁƌŝƚŝŶŐ͕ĂĚĚƌĞƐƐĞĚƚŽƚŚĞ ĂƉƉƌŽƉƌŝĂƚĞƉĂƌƚǇĂƚƚŚĞĂĚĚƌĞƐƐǁŚŝĐŚĂƉƉĞĂƌƐďĞůŽǁ;ĂƐŵŽĚŝĨŝĞĚŝŶǁƌŝƚŝŶŐĨƌŽŵƚŝŵĞ ƚŽƚŝŵĞďǇƐƵĐŚƉĂƌƚǇͿ͕ĂŶĚŐŝǀĞŶƉĞƌƐŽŶĂůůǇ͕ďǇƌĞŐŝƐƚĞƌĞĚŽƌĐĞƌƚŝĨŝĞĚŵĂŝů͕ƌĞƚƵƌŶƌĞĐĞŝƉƚ ƌĞƋƵĞƐƚĞĚ͕ďǇĨĂĐƐŝŵŝůĞŽƌďǇŶĂƚŝŽŶĂůůǇƌĞĐŽŐŶŝǌĞĚŽǀĞƌŶŝŐŚƚĐŽƵƌŝĞƌƐĞƌǀŝĐĞ͘dŝŵĞƉĞƌŝŽĚ ĨŽƌ ŶŽƚŝĐĞƐ ƐŚĂůů ďĞĚĞĞŵĞĚƚŽŚĂǀĞ ĐŽŵŵĞŶĐĞĚƵƉŽŶƚŚĞ ĚĂƚĞ ŽĨƌĞĐĞŝƉƚ͕ yWd ĨĂĐƐŝŵŝůĞĚĞůŝǀĞƌǇǁŝůůďĞĚĞĞŵĞĚƚŽŚĂǀĞĐŽŵŵĞŶĐĞĚŽŶƚŚĞĨŝƌƐƚďƵƐŝŶĞƐƐĚĂǇĨŽůůŽǁŝŶŐ ƚƌĂŶƐŵŝƐƐŝŽŶ͘ ŵĂŝů ĂŶĚ ƚĞůĞƉŚŽŶĞ ŵĂǇ ďĞ ƵƐĞĚ ĨŽƌ ƉƵƌƉŽƐĞƐ ŽĨ ĂĚŵŝŶŝƐƚĞƌŝŶŐ ƚŚĞ ŐƌĞĞŵĞŶƚ͕ďƵƚƐŚŽƵůĚŶŽƚďĞƵƐĞĚƚŽŐŝǀĞĂŶǇĨŽƌŵĂůŶŽƚŝĐĞƌĞƋƵŝƌĞĚďǇƚŚĞŐƌĞĞŵĞŶƚ͘ /dzK&ZEdKE dƌŽǇ^ŽůůǇ ϭϬϱϱ^ŽƵƚŚ'ƌĂĚǇtĂǇ ZĞŶƚŽŶ͕tϵϴϬϱϳ WŚŽŶĞ͗;ϰϮϱͿϰϯϬͲϳϯϭϯ ƚƐŽůůǇΛƌĞŶƚŽŶǁĂ͘ŐŽǀ &Ăǆ͗;ϰϮϱͿϰϯϬͲϳϮϰϭ KE^h>dEd ^ƚĞƉŚĞŶEƵƐƐ ϭϲϴϳϭϭϰƚŚǀĞ^͕^ƵŝƚĞϭϬϬ ĞůůĞǀƵĞ͕t ϵϴϬϬϰͲϲϵϲϱ WŚŽŶĞ͗;ϰϮϱͿϮϴϵͲϳϯϭϱ ƐƚĞƉŚĞŶ͘ŶƵƐƐΛƐƚĂŶƚĞĐ͘ĐŽŵ &Ăǆ͗Eͬ W'ϳ K&ϭϬ ϭϳ͘ ŝƐĐƌŝŵŝŶĂƚŝŽŶWƌŽŚŝďŝƚĞĚ͗ǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚƉĞƌŵŝƚƚĞĚďǇĂďŽŶĂĨŝĚĞŽĐĐƵƉĂƚŝŽŶĂů ƋƵĂůŝĨŝĐĂƚŝŽŶ͕ƚŚĞŽŶƐƵůƚĂŶƚĂŐƌĞĞƐĂƐĨŽůůŽǁƐ͗ ͘ ŽŶƐƵůƚĂŶƚ͕ ĂŶĚ ŽŶƐƵůƚĂŶƚ͛Ɛ ĂŐĞŶƚƐ͕ ĞŵƉůŽǇĞĞƐ͕ ƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐ͕ ĂŶĚ ǀŽůƵŶƚĞĞƌƐ ǁŝƚŚƌĞŐĂƌĚƚŽƚŚĞtŽƌŬ ƉĞƌĨŽƌŵĞĚŽƌƚŽďĞƉĞƌĨŽƌŵĞĚƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͕ƐŚĂůů ŶŽƚĚŝƐĐƌŝŵŝŶĂƚĞŽŶƚŚĞďĂƐŝƐŽĨƌĂĐĞ͕ĐŽůŽƌ͕ƐĞǆ͕ƌĞůŝŐŝŽŶ͕ŶĂƚŝŽŶĂůŝƚǇ͕ĐƌĞĞĚ͕ŵĂƌŝƚĂů ƐƚĂƚƵƐ͕ƐĞǆƵĂůŽƌŝĞŶƚĂƚŝŽŶŽƌƉƌĞĨĞƌĞŶĐĞ͕ĂŐĞ;ĞǆĐĞƉƚŵŝŶŝŵƵŵĂŐĞĂŶĚƌĞƚŝƌĞŵĞŶƚ ƉƌŽǀŝƐŝŽŶƐͿ͕ŚŽŶŽƌĂďůǇĚŝƐĐŚĂƌŐĞĚǀĞƚĞƌĂŶŽƌŵŝůŝƚĂƌǇƐƚĂƚƵƐ͕ŽƌƚŚĞƉƌĞƐĞŶĐĞŽĨĂŶǇ ƐĞŶƐŽƌǇ͕ŵĞŶƚĂůŽƌƉŚǇƐŝĐĂůŚĂŶĚŝĐĂƉ͕ƵŶůĞƐƐďĂƐĞĚƵƉŽŶĂďŽŶĂĨŝĚĞŽĐĐƵƉĂƚŝŽŶĂů ƋƵĂůŝĨŝĐĂƚŝŽŶŝŶƌĞůĂƚŝŽŶƐŚŝƉƚŽŚŝƌŝŶŐĂŶĚĞŵƉůŽǇŵĞŶƚ͕ŝŶĞŵƉůŽǇŵĞŶƚŽƌĂƉƉůŝĐĂƚŝŽŶ ĨŽƌĞŵƉůŽǇŵĞŶƚ͕ƚŚĞĂĚŵŝŶŝƐƚƌĂƚŝŽŶŽĨƚŚĞĚĞůŝǀĞƌǇŽĨtŽƌŬ ŽƌĂŶǇŽƚŚĞƌďĞŶĞĨŝƚƐ ƵŶĚĞƌƚŚŝƐŐƌĞĞŵĞŶƚ͕ŽƌƉƌŽĐƵƌĞŵĞŶƚŽĨŵĂƚĞƌŝĂůƐŽƌƐƵƉƉůŝĞƐ͘ ͘ dŚĞŽŶƐƵůƚĂŶƚǁŝůůƚĂŬĞĂĨĨŝƌŵĂƚŝǀĞĂĐƚŝŽŶƚŽŝŶƐƵƌĞƚŚĂƚĂƉƉůŝĐĂŶƚƐĂƌĞĞŵƉůŽǇĞĚĂŶĚ ƚŚĂƚĞŵƉůŽǇĞĞƐĂƌĞƚƌĞĂƚĞĚĚƵƌŝŶŐĞŵƉůŽǇŵĞŶƚǁŝƚŚŽƵƚƌĞŐĂƌĚƚŽƚŚĞŝƌƌĂĐĞ͕ĐƌĞĞĚ͕ ĐŽůŽƌ͕ ŶĂƚŝŽŶĂů ŽƌŝŐŝŶ͕ ƐĞǆ͕ ĂŐĞ͕ ƐĞǆƵĂů ŽƌŝĞŶƚĂƚŝŽŶ͕ ƉŚǇƐŝĐĂů͕ ƐĞŶƐŽƌǇ Žƌ ŵĞŶƚĂů ŚĂŶĚŝĐĂƉƐ͕ŽƌŵĂƌŝƚĂůƐƚĂƚƵƐ͘^ƵĐŚĂĐƚŝŽŶƐŚĂůůŝŶĐůƵĚĞ͕ďƵƚŶŽƚďĞůŝŵŝƚĞĚƚŽƚŚĞ ĨŽůůŽǁŝŶŐĞŵƉůŽǇŵĞŶƚ͕ƵƉŐƌĂĚŝŶŐ͕ĚĞŵŽƚŝŽŶŽƌƚƌĂŶƐĨĞƌ͕ƌĞĐƌƵŝƚŵĞŶƚŽƌƌĞĐƌƵŝƚŵĞŶƚ ĂĚǀĞƌƚŝƐŝŶŐ͕ůĂǇŽĨĨŽƌƚĞƌŵŝŶĂƚŝŽŶ͕ƌĂƚĞƐŽĨƉĂǇŽƌŽƚŚĞƌĨŽƌŵƐŽĨĐŽŵƉĞŶƐĂƚŝŽŶĂŶĚ ƐĞůĞĐƚŝŽŶĨŽƌƚƌĂŝŶŝŶŐ͘ ͘ /ĨƚŚĞŽŶƐƵůƚĂŶƚĨĂŝůƐƚŽĐŽŵƉůǇǁŝƚŚĂŶǇŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͛ƐŶŽŶͲĚŝƐĐƌŝŵŝŶĂƚŝŽŶ ƉƌŽǀŝƐŝŽŶƐ͕ƚŚĞŝƚǇƐŚĂůůŚĂǀĞƚŚĞƌŝŐŚƚ͕ĂƚŝƚƐŽƉƚŝŽŶ͕ƚŽĐĂŶĐĞůƚŚĞŐƌĞĞŵĞŶƚŝŶ ǁŚŽůĞŽƌŝŶƉĂƌƚ͘ ͘ dŚĞŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞƚŽďĞĂǁĂƌĞŽĨĂŶĚŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚĂůůĨĞĚĞƌĂů͕ƐƚĂƚĞ ĂŶĚůŽĐĂůůĂǁƐĂŶĚƌĞŐƵůĂƚŝŽŶƐƚŚĂƚŵĂǇĂĨĨĞĐƚƚŚĞƐĂƚŝƐĨĂĐƚŽƌǇĐŽŵƉůĞƚŝŽŶŽĨƚŚĞ ƉƌŽũĞĐƚ͕ǁŚŝĐŚŝŶĐůƵĚĞƐďƵƚŝƐŶŽƚůŝŵŝƚĞĚƚŽĨĂŝƌůĂďŽƌůĂǁƐ͕ ǁŽƌŬĞƌΖƐĐŽŵƉĞŶƐĂƚŝŽŶ͕ ĂŶĚdŝƚůĞs/ŽĨƚŚĞ&ĞĚĞƌĂůŝǀŝůZŝŐŚƚƐĐƚŽĨϭϵϲϰ͕ĂŶĚǁŝůůĐŽŵƉůǇǁŝƚŚŝƚǇŽĨZĞŶƚŽŶ ŽƵŶĐŝůZĞƐŽůƵƚŝŽŶEƵŵďĞƌϰϬϴϱ͘ ϭϴ͘ DŝƐĐĞůůĂŶĞŽƵƐ͗dŚĞƉĂƌƚŝĞƐŚĞƌĞďǇĂĐŬŶŽǁůĞĚŐĞ͗ ͘ dŚĞŝƚǇŝƐŶŽƚƌĞƐƉŽŶƐŝďůĞƚŽƚƌĂŝŶŽƌƉƌŽǀŝĚĞƚƌĂŝŶŝŶŐĨŽƌŽŶƐƵůƚĂŶƚ͘ ͘ ŽŶƐƵůƚĂŶƚǁŝůůŶŽƚďĞƌĞŝŵďƵƌƐĞĚĨŽƌũŽďƌĞůĂƚĞĚĞǆƉĞŶƐĞƐ ĞǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚ ƐƉĞĐŝĨŝĐĂůůǇĂŐƌĞĞĚǁŝƚŚŝŶƚŚĞĂƚƚĂĐŚĞĚĞǆŚŝďŝƚƐ͘ ͘ ŽŶƐƵůƚĂŶƚƐŚĂůůĨƵƌŶŝƐŚĂůůƚŽŽůƐĂŶĚͬŽƌŵĂƚĞƌŝĂůƐŶĞĐĞƐƐĂƌǇƚŽƉĞƌĨŽƌŵƚŚĞ tŽƌŬ ĞǆĐĞƉƚƚŽƚŚĞĞǆƚĞŶƚƐƉĞĐŝĨŝĐĂůůǇĂŐƌĞĞĚǁŝƚŚŝŶƚŚĞĂƚƚĂĐŚĞĚĞǆŚŝďŝƚƐ͘ ͘ /ŶƚŚĞĞǀĞŶƚƐƉĞĐŝĂůƚƌĂŝŶŝŶŐ͕ůŝĐĞŶƐŝŶŐ͕ŽƌĐĞƌƚŝĨŝĐĂƚŝŽŶŝƐƌĞƋƵŝƌĞĚĨŽƌŽŶƐƵůƚĂŶƚƚŽ ƉƌŽǀŝĚĞtŽƌŬ ŚĞͬƐŚĞǁŝůůĂĐƋƵŝƌĞŽƌŵĂŝŶƚĂŝŶƐƵĐŚĂƚŚŝƐͬŚĞƌŽǁŶĞǆƉĞŶƐĞĂŶĚ͕ŝĨ W'ϴ K&ϭϬ ŽŶƐƵůƚĂŶƚĞŵƉůŽǇƐ͕ƐƵďͲĐŽŶƚƌĂĐƚƐ͕ŽƌŽƚŚĞƌǁŝƐĞĂƐƐŝŐŶƐƚŚĞƌĞƐƉŽŶƐŝďŝůŝƚǇƚŽƉĞƌĨŽƌŵ ƚŚĞtŽƌŬ͕ƐĂŝĚĞŵƉůŽǇĞĞͬƐƵďͲĐŽŶƚƌĂĐƚŽƌͬĂƐƐŝŐŶĞĞǁŝůůĂĐƋƵŝƌĞĂŶĚŽƌŵĂŝŶƚĂŝŶƐƵĐŚ ƚƌĂŝŶŝŶŐ͕ůŝĐĞŶƐŝŶŐ͕ŽƌĐĞƌƚŝĨŝĐĂƚŝŽŶ͘ ͘ dŚŝƐŝƐĂŶŽŶͲĞǆĐůƵƐŝǀĞĂŐƌĞĞŵĞŶƚĂŶĚŽŶƐƵůƚĂŶƚŝƐĨƌĞĞƚŽƉƌŽǀŝĚĞŚŝƐͬŚĞƌtŽƌŬ ƚŽ ŽƚŚĞƌĞŶƚŝƚŝĞƐ͕ƐŽůŽŶŐĂƐƚŚĞƌĞŝƐŶŽŝŶƚĞƌƌƵƉƚŝŽŶŽƌŝŶƚĞƌĨĞƌĞŶĐĞǁŝƚŚƚŚĞƉƌŽǀŝƐŝŽŶŽĨ tŽƌŬ ĐĂůůĞĚĨŽƌŝŶƚŚŝƐŐƌĞĞŵĞŶƚ͘ &͘ ŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌŚŝƐͬŚĞƌŽǁŶŝŶƐƵƌĂŶĐĞ͕ŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ ŚĞĂůƚŚŝŶƐƵƌĂŶĐĞ͘ '͘ ŽŶƐƵůƚĂŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌŚŝƐͬŚĞƌŽǁŶtŽƌŬĞƌ͛ƐŽŵƉĞŶƐĂƚŝŽŶĐŽǀĞƌĂŐĞĂƐǁĞůůĂƐ ƚŚĂƚĨŽƌĂŶǇƉĞƌƐŽŶƐĞŵƉůŽǇĞĚďǇƚŚĞŽŶƐƵůƚĂŶƚ͘ ϭϵ͘ KƚŚĞƌWƌŽǀŝƐŝŽŶƐ͗ ͘ ƉƉƌŽǀĂůƵƚŚŽƌŝƚǇ͘ĂĐŚŝŶĚŝǀŝĚƵĂůĞǆĞĐƵƚŝŶŐƚŚŝƐŐƌĞĞŵĞŶƚŽŶďĞŚĂůĨŽĨƚŚĞŝƚǇ ĂŶĚŽŶƐƵůƚĂŶƚƌĞƉƌĞƐĞŶƚƐĂŶĚǁĂƌƌĂŶƚƐƚŚĂƚƐƵĐŚŝŶĚŝǀŝĚƵĂůƐĂƌĞĚƵůǇĂƵƚŚŽƌŝǌĞĚƚŽ ĞǆĞĐƵƚĞĂŶĚĚĞůŝǀĞƌƚŚŝƐŐƌĞĞŵĞŶƚŽŶďĞŚĂůĨŽĨƚŚĞŝƚǇŽƌŽŶƐƵůƚĂŶƚ͘ ͘ 'ĞŶĞƌĂůĚŵŝŶŝƐƚƌĂƚŝŽŶĂŶĚDĂŶĂŐĞŵĞŶƚ͘ dŚĞŝƚǇ͛ƐƉƌŽũĞĐƚ ŵĂŶĂŐĞƌ ŝƐ dƌŽǇ^ŽůůǇ͘/Ŷ ƉƌŽǀŝĚŝŶŐ tŽƌŬ͕ ŽŶƐƵůƚĂŶƚ ƐŚĂůů ĐŽŽƌĚŝŶĂƚĞǁŝƚŚƚŚĞ ŝƚǇ͛Ɛ ĐŽŶƚƌĂĐƚ ŵĂŶĂŐĞƌ Žƌ ŚŝƐͬŚĞƌĚĞƐŝŐŶĞĞ͘ ͘ ŵĞŶĚŵĞŶƚ ĂŶĚ DŽĚŝĨŝĐĂƚŝŽŶ͘ dŚŝƐ ŐƌĞĞŵĞŶƚ ŵĂǇ ďĞ ĂŵĞŶĚĞĚ ŽŶůǇďǇĂŶ ŝŶƐƚƌƵŵĞŶƚŝŶǁƌŝƚŝŶŐ͕ĚƵůǇĞǆĞĐƵƚĞĚďǇďŽƚŚWĂƌƚŝĞƐ͘ ͘ ŽŶĨůŝĐƚƐ͘ /ŶƚŚĞĞǀĞŶƚŽĨĂŶǇŝŶĐŽŶƐŝƐƚĞŶĐŝĞƐďĞƚǁĞĞŶŽŶƐƵůƚĂŶƚ ƉƌŽƉŽƐĂůƐĂŶĚƚŚŝƐ ŐƌĞĞŵĞŶƚ͕ƚŚĞƚĞƌŵƐŽĨƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůƉƌĞǀĂŝů͘ŶǇĞǆŚŝďŝƚƐͬĂƚƚĂĐŚŵĞŶƚƐƚŽ ƚŚŝƐŐƌĞĞŵĞŶƚĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚďǇƌĞĨĞƌĞŶĐĞŽŶůǇƚŽƚŚĞĞǆƚĞŶƚŽĨƚŚĞƉƵƌƉŽƐĞĨŽƌ ǁŚŝĐŚ ƚŚĞǇ ĂƌĞ ƌĞĨĞƌĞŶĐĞĚ ǁŝƚŚŝŶ ƚŚŝƐ ŐƌĞĞŵĞŶƚ͘ dŽ ƚŚĞ ĞǆƚĞŶƚĂ ŽŶƐƵůƚĂŶƚ ƉƌĞƉĂƌĞĚĞǆŚŝďŝƚĐŽŶĨůŝĐƚƐǁŝƚŚƚŚĞƚĞƌŵƐŝŶƚŚĞďŽĚǇŽĨƚŚŝƐŐƌĞĞŵĞŶƚŽƌĐŽŶƚĂŝŶƐ ƚĞƌŵƐƚŚĂƚĂƌĞĞǆƚƌĂŶĞŽƵƐƚŽƚŚĞƉƵƌƉŽƐĞĨŽƌǁŚŝĐŚŝƚŝƐƌĞĨĞƌĞŶĐĞĚ͕ƚŚĞƚĞƌŵƐŝŶƚŚĞ ďŽĚǇ ŽĨ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ƐŚĂůů ƉƌĞǀĂŝů ĂŶĚ ƚŚĞ ĞǆƚƌĂŶĞŽƵƐ ƚĞƌŵƐ ƐŚĂůů ŶŽƚ ďĞ ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶ͘ ͘ 'ŽǀĞƌŶŝŶŐ>Ăǁ͘ dŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞŵĂĚĞŝŶĂŶĚƐŚĂůůďĞŐŽǀĞƌŶĞĚ ďǇ ĂŶĚ ŝŶƚĞƌƉƌĞƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞůĂǁƐŽĨƚŚĞ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶĂŶĚƚŚĞŝƚǇŽĨ ZĞŶƚŽŶ͘ŽŶƐƵůƚĂŶƚĂŶĚĂůůŽĨƚŚĞŽŶƐƵůƚĂŶƚ͛ƐĞŵƉůŽǇĞĞƐƐŚĂůůƉĞƌĨŽƌŵƚŚĞtŽƌŬ ŝŶ ĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ Ăůů ĂƉƉůŝĐĂďůĞ ĨĞĚĞƌĂů͕ ƐƚĂƚĞ͕ ĐŽƵŶƚǇ ĂŶĚ ĐŝƚǇůĂǁƐ͕ ĐŽĚĞƐ ĂŶĚ ŽƌĚŝŶĂŶĐĞƐ͘ &͘ :ŽŝŶƚƌĂĨƚŝŶŐĨĨŽƌƚ͘dŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůďĞĐŽŶƐŝĚĞƌĞĚĨŽƌĂůůƉƵƌƉŽƐĞƐĂƐƉƌĞƉĂƌĞĚ ďǇƚŚĞũŽŝŶƚĞĨĨŽƌƚƐŽĨƚŚĞWĂƌƚŝĞƐĂŶĚƐŚĂůůŶŽƚďĞĐŽŶƐƚƌƵĞĚĂŐĂŝŶƐƚŽŶĞƉĂƌƚǇŽƌƚŚĞ W'ϵ K&ϭϬ ŽƚŚĞƌ ĂƐ Ă ƌĞƐƵůƚ ŽĨ ƚŚĞ ƉƌĞƉĂƌĂƚŝŽŶ͕ ƐƵďƐƚŝƚƵƚŝŽŶ͕ ƐƵďŵŝƐƐŝŽŶŽƌŽƚŚĞƌĞǀĞŶƚŽĨ ŶĞŐŽƚŝĂƚŝŽŶ͕ĚƌĂĨƚŝŶŐŽƌĞǆĞĐƵƚŝŽŶ͘ '͘ :ƵƌŝƐĚŝĐƚŝŽŶĂŶĚsĞŶƵĞ͘ŶǇůĂǁƐƵŝƚŽƌůĞŐĂůĂĐƚŝŽŶďƌŽƵŐŚƚďǇĂŶǇƉĂƌƚǇƚŽĞŶĨŽƌĐĞŽƌ ŝŶƚĞƌƉƌĞƚƚŚŝƐŐƌĞĞŵĞŶƚŽƌĂŶǇŽĨŝƚƐƚĞƌŵƐŽƌĐŽǀĞŶĂŶƚƐƐŚĂůůďĞďƌŽƵŐŚƚŝŶƚŚĞ<ŝŶŐ ŽƵŶƚǇ^ƵƉĞƌŝŽƌŽƵƌƚĨŽƌƚŚĞ^ƚĂƚĞŽĨtĂƐŚŝŶŐƚŽŶĂƚƚŚĞDĂůĞŶŐZĞŐŝŽŶĂů:ƵƐƚŝĐĞ ĞŶƚĞƌŝŶ<ĞŶƚ͕<ŝŶŐŽƵŶƚǇ͕tĂƐŚŝŶŐƚŽŶ͕ŽƌŝƚƐƌĞƉůĂĐĞŵĞŶƚŽƌƐƵĐĐĞƐƐŽƌ͘ ŽŶƐƵůƚĂŶƚ ŚĞƌĞďǇĞǆƉƌĞƐƐůǇĐŽŶƐĞŶƚƐƚŽƚŚĞƉĞƌƐŽŶĂůĂŶĚĞǆĐůƵƐŝǀĞũƵƌŝƐĚŝĐƚŝŽŶĂŶĚǀĞŶƵĞŽĨ ƐƵĐŚĐŽƵƌƚĞǀĞŶŝĨŽŶƐƵůƚĂŶƚŝƐĂĨŽƌĞŝŐŶĐŽƌƉŽƌĂƚŝŽŶŶŽƚƌĞŐŝƐƚĞƌĞĚǁŝƚŚƚŚĞ^ƚĂƚĞŽĨ tĂƐŚŝŶŐƚŽŶ͘ ,͘ ^ĞǀĞƌĂďŝůŝƚǇ͘ ĐŽƵƌƚŽĨĐŽŵƉĞƚĞŶƚũƵƌŝƐĚŝĐƚŝŽŶ͛ƐĚĞƚĞƌŵŝŶĂƚŝŽŶƚŚĂƚĂŶǇƉƌŽǀŝƐŝŽŶŽƌ ƉĂƌƚŽĨƚŚŝƐŐƌĞĞŵĞŶƚŝƐŝůůĞŐĂůŽƌƵŶĞŶĨŽƌĐĞĂďůĞƐŚĂůůŶŽƚĐĂŶĐĞůŽƌŝŶǀĂůŝĚĂƚĞƚŚĞ ƌĞŵĂŝŶĚĞƌŽĨƚŚŝƐŐƌĞĞŵĞŶƚ͕ǁŚŝĐŚƐŚĂůůƌĞŵĂŝŶŝŶĨƵůůĨŽƌĐĞĂŶĚĞĨĨĞĐƚ͘ /͘ ^ŽůĞĂŶĚŶƚŝƌĞŐƌĞĞŵĞŶƚ͘ dŚŝƐŐƌĞĞŵĞŶƚĐŽŶƚĂŝŶƐƚŚĞĞŶƚŝƌĞĂŐƌĞĞŵĞŶƚŽĨƚŚĞ WĂƌƚŝĞƐ ĂŶĚĂŶǇƌĞƉƌĞƐĞŶƚĂƚŝŽŶƐ Žƌ ƵŶĚĞƌƐƚĂŶĚŝŶŐƐ͕ǁŚĞƚŚĞƌ ŽƌĂůŽƌǁƌŝƚƚĞŶ͕ŶŽƚ ŝŶĐŽƌƉŽƌĂƚĞĚĂƌĞĞǆĐůƵĚĞĚ͘ :͘ dŝŵĞŝƐŽĨƚŚĞƐƐĞŶĐĞ͘dŝŵĞŝƐŽĨƚŚĞĞƐƐĞŶĐĞŽĨƚŚŝƐŐƌĞĞŵĞŶƚĂŶĚĞĂĐŚĂŶĚĂůůŽĨ ŝƚƐƉƌŽǀŝƐŝŽŶƐŝŶǁŚŝĐŚƉĞƌĨŽƌŵĂŶĐĞŝƐĂĨĂĐƚŽƌ͘ĚŚĞƌĞŶĐĞƚŽĐŽŵƉůĞƚŝŽŶĚĂƚĞƐƐĞƚ ĨŽƌƚŚŝŶƚŚĞĚĞƐĐƌŝƉƚŝŽŶŽĨƚŚĞtŽƌŬ ŝƐĞƐƐĞŶƚŝĂůƚŽƚŚĞŽŶƐƵůƚĂŶƚ͛ƐƉĞƌĨŽƌŵĂŶĐĞŽĨ ƚŚŝƐŐƌĞĞŵĞŶƚ͘ <͘ dŚŝƌĚͲWĂƌƚǇĞŶĞĨŝĐŝĂƌŝĞƐ͘ EŽƚŚŝŶŐ ŝŶƚŚŝƐ ŐƌĞĞŵĞŶƚ ŝƐ ŝŶƚĞŶĚĞĚ ƚŽ͕ ŶŽƌ ƐŚĂůůďĞ ĐŽŶƐƚƌƵĞĚƚŽŐŝǀĞĂŶǇƌŝŐŚƚƐŽƌďĞŶĞĨŝƚƐŝŶƚŚĞŐƌĞĞŵĞŶƚƚŽĂŶǇŽŶĞŽƚŚĞƌƚŚĂŶƚŚĞ WĂƌƚŝĞƐ͕ĂŶĚĂůůĚƵƚŝĞƐĂŶĚƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐƵŶĚĞƌƚĂŬĞŶƉƵƌƐƵĂŶƚƚŽƚŚŝƐŐƌĞĞŵĞŶƚǁŝůů ďĞĨŽƌƚŚĞƐŽůĞĂŶĚĞǆĐůƵƐŝǀĞďĞŶĞĨŝƚŽĨƚŚĞWĂƌƚŝĞƐĂŶĚŶŽŽŶĞĞůƐĞ͘ >͘ ŝŶĚŝŶŐĨĨĞĐƚ͘dŚĞWĂƌƚŝĞƐĞĂĐŚďŝŶĚƚŚĞŵƐĞůǀĞƐ͕ƚŚĞŝƌƉĂƌƚŶĞƌƐ͕ƐƵĐĐĞƐƐŽƌƐ͕ĂƐƐŝŐŶƐ͕ ĂŶĚůĞŐĂůƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐƚŽƚŚĞŽƚŚĞƌƉĂƌƚǇƚŽƚŚŝƐŐƌĞĞŵĞŶƚ͕ĂŶĚƚŽƚŚĞƉĂƌƚŶĞƌƐ͕ ƐƵĐĐĞƐƐŽƌƐ͕ĂƐƐŝŐŶƐ͕ĂŶĚůĞŐĂůƌĞƉƌĞƐĞŶƚĂƚŝǀĞƐŽĨƐƵĐŚŽƚŚĞƌƉĂƌƚǇǁŝƚŚƌĞƐƉĞĐƚƚŽĂůů ĐŽǀĞŶĂŶƚƐŽĨƚŚĞŐƌĞĞŵĞŶƚ͘ D͘ tĂŝǀĞƌƐ͘ůůǁĂŝǀĞƌƐƐŚĂůůďĞŝŶǁƌŝƚŝŶŐĂŶĚƐŝŐŶĞĚďǇƚŚĞǁĂŝǀŝŶŐƉĂƌƚǇ͘ŝƚŚĞƌƉĂƌƚǇ͛Ɛ ĨĂŝůƵƌĞƚŽĞŶĨŽƌĐĞĂŶǇƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚďĞĂǁĂŝǀĞƌĂŶĚƐŚĂůůŶŽƚ ƉƌĞǀĞŶƚĞŝƚŚĞƌƚŚĞŝƚǇŽƌŽŶƐƵůƚĂŶƚĨƌŽŵĞŶĨŽƌĐŝŶŐƚŚĂƚƉƌŽǀŝƐŝŽŶŽƌĂŶǇŽƚŚĞƌ ƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐŐƌĞĞŵĞŶƚŝŶƚŚĞĨƵƚƵƌĞ͘tĂŝǀĞƌŽĨďƌĞĂĐŚŽĨĂŶǇƉƌŽǀŝƐŝŽŶŽĨƚŚŝƐ ŐƌĞĞŵĞŶƚƐŚĂůůŶŽƚďĞĚĞĞŵĞĚƚŽďĞĂǁĂŝǀĞƌŽĨĂŶǇƉƌŝŽƌŽƌƐƵďƐĞƋƵĞŶƚďƌĞĂĐŚ ƵŶůĞƐƐŝƚŝƐĞǆƉƌĞƐƐůǇǁĂŝǀĞĚŝŶǁƌŝƚŝŶŐ͘ W'ϭϬ K&ϭϬ E͘ ŽƵŶƚĞƌƉĂƌƚƐ͘ dŚĞ WĂƌƚŝĞƐ ŵĂǇ ĞǆĞĐƵƚĞ ƚŚŝƐ ŐƌĞĞŵĞŶƚ ŝŶ ĂŶǇ ŶƵŵďĞƌ ŽĨ ĐŽƵŶƚĞƌƉĂƌƚƐ͕ĞĂĐŚŽĨǁŚŝĐŚƐŚĂůůĐŽŶƐƚŝƚƵƚĞĂŶŽƌŝŐŝŶĂů͕ĂŶĚĂůůŽĨǁŚŝĐŚǁŝůůƚŽŐĞƚŚĞƌ ĐŽŶƐƚŝƚƵƚĞƚŚŝƐŽŶĞŐƌĞĞŵĞŶƚ͘ /Et/dE^^t,ZK&͕ƚŚĞWĂƌƚŝĞƐŚĂǀĞǀŽůƵŶƚĂƌŝůǇĞŶƚĞƌĞĚŝŶƚŽƚŚŝƐŐƌĞĞŵĞŶƚĂƐŽĨƚŚĞĚĂƚĞ ůĂƐƚƐŝŐŶĞĚďǇƚŚĞWĂƌƚŝĞƐďĞůŽǁ͘ /dzK&ZEdKE Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ KE^h>dEd Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ƌŵŽŶĚWĂǀŽŶĞ DĂǇŽƌ ^ƚĞƉŚĞŶEƵƐƐ ^ĞŶŝŽƌWƌŝŶĐŝƉĂů͕WƌĂĐƚŝĐĞ>ĞĂĚĞƌ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ĂƚĞ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ĂƚĞ ƚƚĞƐƚ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ :ĂƐŽŶ͘^ĞƚŚ ŝƚǇůĞƌŬ ƉƉƌŽǀĞĚĂƐƚŽ>ĞŐĂů&Žƌŵ Ǉ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ŚĞƌǇůĞǇĞƌ ZĞŶƚŽŶŝƚǇƚƚŽƌŶĞǇ ŽŶƚƌĂĐƚdĞŵƉůĂƚĞ hƉĚĂƚĞĚϱͬϮϭͬϮϬϮϭ ͗ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ^ƚĞƉŚĞŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶŶ EƵƐƐ ^ĞŶŝŽƌWƌŝŶĐŝƉĂ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ƚĞ 2/9/2026 Approved by Cheryl Beyer via email 11/13/2025 SCOPE OF WORK CITY OF RENTON COPPER RIDGE STORM SYSTEM IMPROVEMENT PROJECT DESIGN SERVICES NOVEMEBER 2025 General Description of Project CCTV inspections revealed that a 15-inch and a 24-inch corrugated metal storm system pipes extending from Davis Ave S on the north side of the Copper Ridge development are in a deteriorated condition. This storm system is more than 50 years old and is installed in the steep slope of Talbot Hill within an easement on private property. It discharges to the Panther Creek wetland. This project will replace the deteriorated sections of this storm system and rehabilitate sections in need of repair to reduce the risk of pipe failure, flooding and landslide. Project location is approximately 4600 Davis Ave S, Renton, WA 98055. Scope of Services The following scope of services outlines the tasks associated with the design of the storm drainage improvements. In general, the Consultant will prepare construction documents for the proposed improvements and lead the permitting with support from the City. Ancillary services that will be provided by the Consultant and its subconsultants include utility locating and potholing, topographic surveying, geotechnical engineering, and arborist services. The storm drainage improvements and restoration of features disturbed by construction of the new drainage facilities will be designed and constructed in accordance with the requirements of the 2022 City of Renton Surface Water Design Manual and the Renton Municipal Code. Task 1 – Project Management 1.2 Design Phase Project Management Prepare and communicate a Project Management Plan (PMP). Manage scope, budget, schedule and all tasks, staff, and subconsultants/subcontractors for design services. Conduct bi-weekly meetings with City regarding design progress, issues, costs, and schedule. Maintain change management and decision log and request amendments as necessary (up to two (2) total) for changes in City scope requirements. Administer monthly Consultant invoicing to City for services provided and prepare monthly Project Status Report, including budget summary, earned value reporting, change management and decision log, updated milestone schedule and project status narrative by task as required. EXHIBIT A 7 November 2025 Page 2 of 20 1.3 Kickoff Meeting and Progress Meetings Conduct Kickoff meeting on with City. Two (2) Stantec staff will attend. Attend bi-weekly progress meetings with City staff. Two (2) Stantec staff will attend. 1.4 Internal Kick-off Meeting and Design Team Meetings Conduct an internal Team Kickoff meeting and periodic design meetings to review assignments, responsibilities, expectations, and schedules and conduct periodic project team coordination meetings. Assumptions Coordination with the City will be via email, virtual meetings, and telephone calls. In-person coordination meetings with the City will not be required for this task. PDFs of Gantt Charts will be used for schedules. City Responsibilities City staff at Kickoff Meeting will include City Development Services Engineer for discussion of future development considerations relative to pipe alignment. Deliverables Monthly invoices with associated status reports Updated project schedule at design deliverables Project related correspondence Task 2 – Field Survey 2.1 Topographic Survey/Utility Locates and Preparation of Base Drawings Field topographic survey will be performed by S&F Land Services to identify existing surface conditions within the project limits. Approximate survey limits include the right-of-way east and north of Davis Avenue S / SE 45th Place intersection, Davis Avenue S from the intersection to south terminus of the street, the southern 130 feet of parcel 639180-0010 west of Davis Avenue, the northern 220 feet of the City of Renton Stormwater Easement on parcel 312305-9041. Survey will include topography, pavement limits, catch basins, manholes, water meters, hydrants, and other utility appurtenances and significant features located within the public right- of-way or an accessible easement. 7 November 2025 Page 3 of 20 Field survey to include available underground-utility paint mark locates and surface indications of underground features (through services of a subcontractor to the Consultant) prior to topographic survey. Field survey does not include potholing underground utilities. Preliminary research and review of available City and utility companies’ record drawings to confirm approximate locations. Obtain title report for Parcels 6391800010, 3123059041, and 3123059153 Reduce field data and prepare base drawings for design. Base drawings will be established using 1 inch = 20 feet drawing scale and will include two-foot contour intervals. Horizontal and vertical control will be compatible with City’s current standard control network for GIS; NAD 83(1991) Horizontal datum and NAVD 88 Vertical Datum. GPS surveying methodology will be employed where practical and feasible. Base drawings will be developed using County Assessors map GIS boundary lines; therefore, locations of right-of-way boundaries and property lines shown on the drawings will be based on available GIS information and Stantec will not be responsible for verifying the accuracy of this information based on deeds or land exchanges. Assumptions: GIS is not considered survey grade. Record of survey will not be required. Trees 6-inches diameter at breast height (DBH) or greater within the survey limits will be located and identified as evergreen or deciduous. Determining tree dripline limits is not included. Consultant will adhere to the City’s standards for survey control. Monuments will not be disturbed by the design team; therefore, monument destruction forms/permits will not be required. The Contractor shall be responsible for preparing and submitting these forms should the design require, or the Contractor’s work disturbs, any monuments. City Responsibilities: Provide Stantec with available water, sewer and storm GIS maps and water grid map AutoCAD files. Provide available copies of existing recorded easements. Provide available relevant record drawings. Provide coordination with property owners for utility marking and survey access. Obtain Right of Way (ROW) permit for survey work. 7 November 2025 Page 4 of 20 Deliverables: AutoCAD drawing 2.2 Survey of Pothole Locations S&F Land Services will provide survey of pothole locations identified in Task 6. Assumptions: GIS is not considered survey grade. Record of survey will not be required. Consultant will adhere to the City’s standards for survey control. Monuments will not be disturbed by the design team; therefore, monument destruction forms/permits will not be required. The Contractor shall be responsible for preparing and submitting these forms should the design require, or the Contractor’s work disturbs, any monuments. City Responsibilities: Provide Stantec with available water, sewer and storm GIS maps and water grid map AutoCAD files. Provide available copies of existing recorded easements. Provide available relevant record drawings. Provide coordination with property owners for utility marking and survey access. Obtain Right of Way (ROW) permit for survey work Deliverables: AutoCAD drawing 2.3 Easement Exhibits If easements are required, assist the City in preparation of easement exhibits (legal description and Drawing). If necessary, S&F will prepare one permanent easement legal description and drawing, and one temporary construction easement legal description and drawing. Assumptions: 7 November 2025 Page 5 of 20 Each easement exhibit developed will be limited to a single parcel. Easement exhibits will only be developed for one of the identified project sites for which survey control has been propagated to the site. City may require subcontractor to return to the easement site(s) to stake out easement(s), or prepare additional easement exhibits as an Amendment to the work. City Responsibilities: Provide the easement agreement documents and negotiate the easement acquisitions. Submit permanent easement exhibits with legal descriptions and documentation to King County for recording. Deliverables: Legal Description of Easement (Microsoft Word) Drawing of Easement (PDF) Temporary Construction Easement Legal Description (Microsoft Word) Drawing of Temporary Easement (PDF) Task 3 – Design Services 3.1 Obtain Franchise Utility Maps Consultants will collect all franchise utility maps from franchise utility companies for all sites for double check of the survey. Assumptions: None City Responsibilities: None Deliverables: None 3.2 Preliminary Design/Alternatives Analysis Perform field reconnaissance for repair and/or replacement of approximately 560 lineal feet of existing 15-inch and 24 -inch storm drainage pipe. Approximate reconnaissance limits include the area defined in topographical survey. Perform hydrologic and hydraulic analysis for sizing of replacement pipe. 7 November 2025 Page 6 of 20 Site review and participation in up to two (2) meetings on site with City staff to discuss location and design configuration of replacement alternatives. Prepare and submit a technical memorandum including analysis of pipe repair and/or replacement alternatives and recommendation of proposed improvements. The memorandum will also provide summary of hydraulic/hydrologic analysis for confirmation of pipe sizing. The memorandum will include plan view drawings at 30% percent design level for up to two (2) alternative locations for pipe percent design preliminary (Association for the Advancement of Cost Engineering (AACE) level 5) construction costs for each alternative. Assumptions: Includes repair, rehabilitation and replacement options. Trenchless pipe replacement options (horizontal direction drilling (HDD), jack and bore, etc.) will not be considered. Water quality treatment and water flow control facilities will not be required. City Responsibilities: Provide complete basin delineation. Provide available GIS data for hydrologic analysis. Deliverables: Preliminary Design Report (PDF) – includes report, preliminary (30%) plans, and cost estimate Hydrologic/Hydraulic Analysis Technical Memorandum (PDF) 3.3 60% Contract Documents Prepare 60% Contract Drawings. Develop plan for limited potholing of water main, water services and other impacted utilities, for purposes of design, and submit the plan to the City for review and authorization. Coordinate design potholing by Stantec’s potholing subcontractor. Site visits to verify locations of existing features and conditions as they relate to the design. Prepare 60% level Contract Specifications using City’s boiler plate specification. City’s standard details will be included in Appendix A of the boiler plate specification. Prepare AACE Class 3 Opinion of Probable Construction Cost (OPCC) showing bid items, quantities, unit costs, and total probable costs for construction of proposed improvements. Conduct in-house quality assurance (QA) reviews. Submit 60% design drawings, design Specifications, OPCC to City for review and comment. 7 November 2025 Page 7 of 20 Meet with City staff to discuss City’s 60% review comments. Up to two (2) Stantec team members to attend. Assumptions: A Technical Information Report (TIR) per Section 2.1.2 of the 2022 City of Renton Stormwater Design Manual will be required. Project will be exempt from Offsite Analysis Core Requirement #2, due to exemption 3 which is project will not change rate, volume, duration or location of discharges to and from the project site. Stantec will prepare special provisions for specifications. City will prepare “front end” documents. Contract documents will consist of plans (drawings), the City’s boiler plate specifications, as modified/tailored by the Consultant for the needs of the specific construction project, and appendices containing City standard water details and project specific documents including approved permits, easement documents, studies and reports, copies of select correspondence, and traffic control plans. Drawings will be prepared using AutoCAD/Civil 3D 2025 and meet the following standards: Developed for plotting at full size (22” x 34”) and half size (11” x 17”). Using the Consultant’s CAD Standards with City of Renton information added to title block. The Plan Set will include approximately 10 sheets, including the following: Cover sheet General Notes and Legend Existing conditions and survey control plan Drainage Plan and Profile (2 sheets) Drainage Details Temporary Erosion and Sedimentation Control (TESC) Plan TESC Details Planting Plan/ Landscape Restoration Plan The Contract Specifications will be based on the City of Renton Utility Department’s boiler plate specifications. City of Renton and Washington Department of Transportation (WSDOT) Standard Details will be included in Specifications. Construction restoration will consist of hot mixed asphalt (HMA) patches within the traveled right of way and in-kind restoration of surface features outside the traveled right of way. The City of Renton’s standard details will be used to restore pavement. Design of an asphalt pavement overlay to the disturbed streets is excluded from this scope of services. Design for replacement of any curb or sidewalks directly impacted by installation of the proposed stormwater pipeline will be per current City of Renton standards. Design of Landscape Restoration Plan will use native and adaptive species suitable for steep slopes if applicable. Landscape Restoration design will include specifying soil amendment and mulching strategies to support plant establishment. 7 November 2025 Page 8 of 20 Landscape Restoration designer will coordinate with civil and geotechnical engineers to understand grading, drainage and utility plans. Tree Protection Plan and Arborist Report will be separate submittal. OPCCs will be developed and will show the list of bid items and associated quantities, unit costs, and total probable costs for construction of the project. The Consultant will make reasonable efforts to provide an accurate OPCC with each submittal. However, the actual costs bid by contractors is beyond the Consultant’s control and may vary significantly from Consultant’s final OPCC. Design review meetings are assumed to be virtual. City Responsibilities: Provide electronic files of the City’s existing water, sewer, and storm water utility grid maps for each site in GIS or AutoCAD format (City’s preference). Provide electronic copies (MS Word) of the City’s standard boilerplate Contract Documents. Provide a consolidated set of written review comments via email. (Microsoft Excel and PDF) Review and approve potholing plan within three weeks of submittal. Deliverables: The 60% submittal will include electronic versions of the following items: o Design drawings (PDF) o Design calculations as needed. o Contract Specifications (PDF and Microsoft Word) o OPCC (PDF and Excel) AACE Class 3 with quantity take off, basis of estimate. o Updated schedule (PDF) o Draft TIR (PDF) o Comment Response Summary (MS Excel) 3.4 90% Contract Documents Incorporate City’s 60% design review comments into drawings, specifications, and OPCC. Continue coordination with subcontractor for design potholing. Provide final details on drawings, complete project-specific details and notes including ones pertaining to pavement restoration; and standard construction and TESC notes. Prepare Contract Documents. These documents will include the intended date for the bid opening and a detailed bid proposal form. Prepare AACE Class 2 90% OPCC. Prepare Final Stormwater Technical Information Report. Conduct in-house quality assurance (QA) reviews. 7 November 2025 Page 9 of 20 Submit 90% Design Documents, OPCC, and updated schedule to City for review and comment. Meet with City staff to discuss City’s 90% review comments. Up to two (2) Stantec team members to attend. Assumptions: None additional to this subtask City Responsibilities: Provide a consolidated set of written review comments on 90% design submittal. Deliverables: The 90% submittal will include one electronic version of the: o Design Drawings (PDF) o Contract Documents (PDF and Microsoft Word), including Appendices. o OPCC (PDF and Excel) o Final TIR (PDF) o Updated schedule (PDF) o Comment Response Summary (MS Excel) 3.5 Final Contract Documents Finalize drawings and Contract Documents for bidding by incorporating City’s 90% Design review comments. Prepare the Final stamped and signed Contract Drawings. Prepare the Final stamped and signed Contract Specifications. Prepare Final OPCC. Conduct in-house quality assurance (QA) reviews. Submit final Contract Documents and OPCC to City for bidding. Assumptions: Final Design OPCC will not include an allowance for indeterminates or contingency. City Responsibilities: None additional to this subtask. Deliverables: The final submittals will include one electronic copy of the Drawings, Contract Documents and OPCC: o Design Drawings in AutoCAD o Contract Documents in Microsoft Word and PDF format, including Appendices. o OPCC (Microsoft Excel and PDF) o Quantity Take Off 7 November 2025 Page 10 of 20 3.6 Bidding Support Services Answer bidder questions during bid period, if necessary. Assist City in preparing bid addenda as needed for distribution to prospective bidders. Assumptions: Support services will be for one addenda. City Responsibilities: Administer the advertisement and distribution of the bid/contract documents to prospective bidders. Distribute addenda. Receive, open, and process the bids, including the preparation of the bid tabulation, reviewing the apparent low bidder references, preparing a recommendation for contract award, and awarding the contract to the lowest responsible bidder. Deliverables: None Task 4 – Geotechnical Services Consultant will complete a geotechnical subsurface investigation, critical areas analysis, and engineering analysis to support design and construction of the proposed alignment upgrades. 4.1 Subsurface Investigation The proposed subsurface investigation program will include five (5) boreholes along the proposed pipeline alignment to characterize the site's subsurface conditions and estimate engineering properties of subsurface materials. Assumptions: A right-of-way permit will be required for borings in the right-of-way and will be issued alongside the City’s CIP permit for the project. Consultant will provide boring locations and traffic control plans to the City’s PM for permit purposes. Standard traffic control plans for 1-lane closure on a low volume residential road will be sufficient and 1 flagger will be required. Bore holes in asphalt pavement will be backfilled and will receive a permanent 2’x2’ HMA pavement patch. Draft GER will be delivered with the 60% Contract Document Submittal. 7 November 2025 Page 11 of 20 Final GER will be delivered with the 90% Contract Document Submittal. City Responsibilities: Include ROW permit for borings with project permit. Deliverables: Boring location map and traffic control plans (PDF) 4.2 Safety Planning Stantec will prepare a site-specific Health and Safety Plan (HASP) for field activities in accordance with Stantec safety policy. The plan will establish key contacts, field procedures, personal protective equipment (PPE) requirements, emergency procedures, and task-specific job safety assessments (JSAs). Assumptions: None City Responsibilities: None Deliverables: None 4.3 Utility Clearance, Permitting, and Geotechnical Investigation A. Utility Clearance This subtask includes locating borehole sites, clearing for utilities, and preparing the area for soil boring advancement. The components of this task are described below. Site Reconnaissance. Stantec staff will coordinate with the City through phone and email communications to identify the locations of the boreholes and will mark the locations in the field. The locations will be modified as needed for access, with City’s approval. Utility Clearance. Stantec will contact Washington 811 at least 72 hours before mobilization in accordance with State law. Stantec will request the City to provide us with any available plans of underground utilities to help in clearing exploration locations. Stantec will also contract a private utility locator to check all boring locations. B. Traffic Control Stantec will submit standard traffic control plans and subcontract Traffic Management Inc. to provide traffic control operation for borings in or adjacent to roadways. Plans will be submitted to the City for review and approval. 7 November 2025 Page 12 of 20 C. Field Exploration Stantec will conduct a field exploration program to characterize site subsurface conditions and estimate engineering properties of subsurface materials. The field exploration program will consist of five boreholes. Four of the five borings will extend to depths of 10 to 20 feet below the existing ground surface and one boring at the top of the slope will extend to a depth of 50 feet below the existing ground surface. Drilling will be performed by Holt Services under contract to Consultant. The purpose of the boreholes will be to collect physical samples of the soils for laboratory index and strength testing, which will be used to identify physical and engineering properties of site soils. The boreholes will be advanced using mud-rotary drilling. Split-spoon sampling and Standard Penetration Testing (SPT) at 2.5-foot intervals will be conducted to a depth of 10 feet below the existing ground surface and at 5-foot intervals until termination thereafter in accordance with ASTM D1586. A maximum of two (2) relatively undisturbed thin-wall tube samples will be collected in fine-grained material for advanced laboratory testing in accordance with ASTM D1587. Field torvane/pocket penetrometer tests will be conducted on selected SPT samples and on all Shelby tube samples. Stantec has assumed that contaminated materials will not be encountered during field explorations and that screening of soil samples with an organic vapor meter (PID) will not be required. Utility Location The top five feet of each boring will be cleared by APS using a vacuum truck for the purpose of utility location. Spoils from Drilling Spoils from drilling will be drummed and disposed of offsite. Borehole Completion After planned termination depth, water levels will be measured with a plumb line or water level indicator. The boreholes will be backfilled upon completion in accordance with local and state regulations. Approximate borehole location coordinates will be established by Stantec using hand-held GPS equipment providing an accuracy of ±15 feet. Borehole locations will be clearly marked for subsequent surveying by others if greater accuracy is required. Stantec will provide full-time oversight of the field exploration program by an engineer or geologist to coordinate activities with facility personnel and to modify the field-testing program, if necessary, based on the encountered subsurface conditions. Stantec staff will log borings, direct soil sampling, and package samples for transport to the laboratory. Stantec has budgeted for a maximum of two (2) days on-site to provide field drilling and sampling oversight. Prior to the commencement of the field work, Stantec and the City will mutually agree upon the exploration locations and planned depths. 7 November 2025 Page 13 of 20 4.4 Laboratory Testing and Data Processing A. Laboratory Testing The samples recovered from the boreholes will be returned to our Stantec’s laboratory for testing. Soil index and classification testing including moisture content, gradation (sieve and hydrometer), Atterberg Limits, and organic content will be performed where applicable. Testing on Shelby tube samples may include dry unit weight. All samples taken for tests will be retained by the laboratory for up to 60 days after the submittal of the geotechnical report prior to disposal. B. Field Data Processing Stantec will prepare borehole logs, pertinent profiles, and laboratory test tabulations using the data generated by the investigation. Stantec will implement levels of Quality Assurance / Quality Control (QA/QC) appropriate to the amount of data collected during the field investigation program.5.2- Geotechnical Engineering Analysis and Report Stantec will prepare a Geotechnical Engineering Report (GER). The GER will present the information obtained from the field and laboratory investigation and summarize the ground conditions encountered. The report will provide Stantec’s interpretation of the site stratigraphy, summarize results of engineering calculations as applicable, and provide recommendations for design and construction of the proposed infrastructure. In general, the GER will address the following as applicable: Project information. Discussion of geology and topography. Discussion of site stratigraphy and groundwater conditions. Engineering Analysis / Recommendations, including: Evaluation of the suitability of site soils for proposed construction methods. o Slope stability, critical areas, and seismic hazards. o Earthwork (site preparation, excavation, material specifications, placement and compaction requirements, re-use). o Miscellaneous construction considerations related to encountered subsurface conditions. Figures / Appendices o Aerial plan of boring locations. o Formal logs of boreholes. o Laboratory test results. The GER will be prepared under the supervision of a licensed Professional Engineer in the State of Washington experienced in geotechnical engineering. 7 November 2025 Page 14 of 20 Assumptions: Only one revision of the report will be necessary to incorporate City comments. The GER will be included as an appendix to the Construction Documents Traffic control permit acquired through CIP permit process. City Responsibilities: Provide a consolidated set of written review comments via email. (Microsoft Excel and PDF) Deliverables: Draft GER (PDF and Microsoft Word) Final GER (PDF) Task 5 – Design Potholing Design potholing will be performed by APS on an as-needed basis. Compensation for potholing services will be paid on a time and materials (T&M) basis based on their current rate sheet. Consultant coordination time with potholing subcontractor is included in other tasks. Develop traffic control plans and submit to City for review and approval. Coordinate with One-Call services for locating and marking of buried utilities. Furnish traffic control labor and devices. Sawcut, core or jack hammer asphalt pavement as required. Pothole using hydro excavation/vactor excavation technique. Temporarily fill and patch holes, including cold mix patch for asphalt pavement surfaces. Permanently restore holes with HMA pavement patch. Assumptions: A right-of-way permit will be required for potholing and will be associated with the City’s CIP permit for the project. The budget for this task is a placeholder dollar amount as the actual amount of required work is unknown. When needs are identified, a review of the proposed cost will be performed and communicated to the City. The initial number of potholes assumed, for purposes of establishing an initial planning level potholing budget, is six. The actual number performed may differ significantly based on the approved Potholing Plan and the factors affecting costs. Potholes and excavations in asphalt pavement will be backfilled and will receive a permanent 2’ x2’ HMA pavement patch. 7 November 2025 Page 15 of 20 Potholing will only be performed within public rights of way, easements, or City-owned properties. Potholing results record will include pothole designation (corresponding to number shown on design drawings), type, size, and depth of cover for each utility and thickness of pavement. Factors affecting costs for potholes include locations (in travel lanes vs. shoulder), local access roads vs arterial streets, type of surface (grass, dirt or gravel, asphalt, concrete, asphalt over concrete), surface restoration requirements, including temporary patch vs permanent patch. The proposed budget submitted to the City for authorization will be based on the estimated costs to implement the authorized Potholing Plan. Actual costs may vary from estimated costs based on difficulty of locating the target buried utilities. Utility locates and potholing are based on information available at the time the decision was made to pothole. The Consultant will develop a potholing plan that provides recommendations on pothole locations, but the City is responsible for deciding on the final pothole locations based on its acceptance of the potholing plan. The potholing plan will be sent to the potholing Contractor and surveyor to obtain an estimate of the associated potholing costs and associated survey, mapping, and permanent asphalt patch. The potholing plan will then be modified to fit within the budget allotment, or the City will provide written authorization via the Change Management Log to address additional costs before they are incurred. The Consultant shall not be responsible if utilities are later discovered during construction that were not identified by the design phase utility locates or potholing. City Responsibilities: Review and approve the potholing plan within three weeks of submittal and authorize the associated potholing request. Deliverables: Potholing Plan (PDF) Record of Potholing results with location in latitude and longitude or Northings and Eastings (PDF) Pothole pictures Pothole locations shown on the plan view with minimum two dimensions to surveyed surface location such as adjacent light poles, center of storm catch basin cover, manhole cover, etc. 7 November 2025 Page 16 of 20 Task 6 Cultural Resources Services Develop a Monitoring and Inadvertent Discovery Plan (MIDP) that will be included in the contract documents. MIDP will be reviewed and approved before any ground disturbing activities take place within the project area. Assumptions: MIDP will be based on the Washington State Department of Ecology Template. City Responsibilities: Provide review comments on documents. Conduct all government-to-government coordination and discussions as required for regulatory processes. Deliverables: MIDP (PDF) Task 7 – Environmental Review and Permitting Support Services 7.1 Environmental Review This task will be used to comply with national and state environmental policies and for obtaining the permits needed to facilitate construction of the proposed improvements. Attend pre-application meetings and/or coordinate virtually or electronically with the City and state and federal regulatory agencies to determine level of approval or permitting for federal, state and City/local agency permits and approvals. One (1) pre-application meeting (in-person at City Hall) up to two hours in length will be held with the City to discuss the required City permits and their associated process. Consultant will have 2 staff in attendance. 7 November 2025 Page 17 of 20 Up to four (4) virtual meetings with local and state agencies may be required. Consultant will prepare a summary of each meeting and provide the summaries to the attendees. Consultant will have 2 staff in attendance. Develop, assemble, and submit SEPA checklist and supporting documentation to state and local agencies. Prepare Critical Areas Report. Coordinate directly with state, and City/local permitting agencies and respond to requests for information. Revise and finalize checklist and reports to address City comments Keep City appraised of status of permit application submittals and status of permit approvals and request City assistance as required. Assumptions: Early coordination with permitting agencies may lessen the permitting level of effort substantially; however, the streamlined level of effort cannot be confirmed without the agencies’ approvals. In the absence of more information, this scope includes a conservative level of effort for each permit to help avoid contract modifications in the future. No Tribal coordination or review of permitting documentation or submittals will be required. Wetland delineation may be required. Scope includes level of effort for delineation. Project is an exempt activity within the critical area and associated buffer. City Responsibilities: Coordinate and setup a pre-application meeting with the pertinent City Departments that will be issuing City permits. The purpose of the meeting is to discuss the regulatory requirements that must be addressed to obtain the permits as well as the time frames needed for City processing of the permit applications. Deliverables: Draft and final versions of meeting notes/summaries via email (PDF) Draft and Final SEPA Checklist (PDF) 7 November 2025 Page 18 of 20 Draft and Final Critical Areas Report (PDF) 7.2 Permitting Support Services Prepare required plan exhibits for the following City of Renton In-house permits as follows: o Capital Improvement Project (CIP) Permit o Right-of-way Permit o Civil Construction Permit Assumptions: No State Permits are expected to be required for this project. Construction Stormwater General Permit from Ecology will not be required, but if determined to be required later, it will be submitted for and obtained by the Contractor. Travel time associated with meetings will be in addition to the allotted times for the meetings. City Responsibilities: Be the lead agency on SEPA and publish all associated notices. Coordinate, and pay for, publication of notices in newspaper of record. Pay all fees associated with permit applications. Post and/or mail and required public notices. Deliverables: Exhibits (PDF) Task 8 - Arborist Services Review project documents including 60% design. Conduct site visit to develop inventory of trees within the impact zone, document locations, take photographs relative to pipeline, critical root zones, and record field notes. 7 November 2025 Page 19 of 20 Perform tree health assessments along the corridor and impacts outside of the ROW, identifying trees for removal and feasible retention. Develop Arborist Report that summarizes tree inventory, impacts of alternatives, tree location map and general tree protection recommendations. Prepare Tree Protection Plan for selected alternative fencing locations and construction limits. Conduct in-house quality assurance (QA) reviews. Assumptions: Arborist will perform one site visit for tree health assessment. The work will comply with the City of Renton Municipal Code, International Society Arboriculture (ISA) Best Practices, and American National Standard Institute (ANSI) A300. The current City of Renton Municipal Code will be applied to the project. Further work, such as permitting and construction oversight, will require additional scoping and budgeting. City Responsibilities Provide any prior relevant arborist reports. Deliverables Draft Arborist Report (PDF) Final Arborist Report (PDF) Draft Tree Protection Plan (PDF) Final Tree Protection Plan (PDF) Draft Environmental Compliance Checklist (PDF) Final Environmental Compliance Checklist (PDF) Services Not Included The following services are not a part of this Agreement. If the City chooses to add one or more of the following services to this Scope of Services, then this Agreement shall be modified in terms of an addition to the total compensation to be paid to Stantec and an appropriate extension of time (as necessary) to Stantec’s schedule. Permit investigation and applications. Payment of permit fees. Stormwater quality or flow control design Development of environmental permit applications. Underground utility potholing through concrete surfaces. 7 November 2025 Page 20 of 20 Hot mix asphalt pavement grinding and overlay to restore potholed asphalt pavements. Distributing bid/contract document sets to prospective bidders, receiving bids, prepare bid tabulation, reviewing apparent low bidder references, and preparing recommendation for contract award. Public outreach services. Payment for property title reports beyond the assumptions contained in this scope of services. Development of design drawings for replacement of sidewalks, curb ramps, and driveway approaches that are not directly impacted by the project. Development of design drawings for moving or replacing retaining walls of any type. Development of traffic control plans (TCPs) except as identified in Task 4 and 5. Construction phase services, which are services that occur after bid opening, are not included in the scope and will be negotiated later with the City and will require a contract amendment. 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L F N R I I 0 H H W L Q J D Q G ' H V L J Q 7 H D P 0 H H W L Q J V 7 L P H 0 D W H U L D O )L H O G 6 X U Y H \ 7 L P H 0 D W H U L D O 7R S R J U D S K L F 6 X U Y H \ 8 W L O L W \ / R F D W H V D Q G 3 U H S D U D W L R Q R I %D V H ' U D Z L Q J V 7L P H 0 D W H U L D O 6 X U Y H \ R I 3 R W K R O H / R F D W L R Q V 7L P H 0 D W H U L D O ( D V H P H Q W ( [ K L E L W V 7L P H 0 D W H U L D O ' H V L J Q 6 H U Y L F H V 7 L P H 0 D W H U L D O 2 E W D L Q ) U D Q F K L V H 8 W L O L W \ 0 D S V 7L P H 0 D W H U L D O 3 U H O L P L Q D U \ ' H V L J Q $ O W H U Q D W L Y H V $ Q D O \ V L V 7 L P H 0 D W H U L D O & R Q W U D F W ' R F X P H Q W V 7L P H 0 D W H U L D O & R Q W U D F W ' R F X P H Q W V 7 L P H 0 D W H U L D O ) L Q D O & R Q W U D F W ' R F X P H Q W V 7 L P H 0 D W H UL D O % L G G L Q J 6 X S S R U W 6 H U Y L F H V 7 L P H 0 D W H U L D O * H R W H F K Q L F D O 6 H U Y L F H V 7L P H 0 D W H U L D O 6 X E V X U I D F H , Q Y H V W L J D W L R Q 7L P H 0 D W H U L D O 6 D I H W \ 3 O D Q Q L Q J 7L P H 0 D W H U L D O 8W L O L W \ & O H D U D Q F H 3 H U P L W W L Q J D Q G * H R W H F K Q L F D O ,Q Y H V W L J D W L R Q 7L P H 0 D W H U L D O / D E R U D W R U \ 7 H V W L Q J D Q G ' D W D 3 U R F H V V L Q J 7L P H 0 D W H U L D O ' H V L J Q 3 R W K R O L Q J 7L P H 0 D W H U L D O & X O W X U D O 5 H V R X U F H V 6 H U Y L F H V 7L P H 0 D W H U L D O (Q Y L U R Q P H Q W D O 5 H Y L H Z D Q G 3 H U P L W W L Q J 5 H V R X U F H 6H U Y L F H V 7 L P H 0 D W H U L D O ( Q Y L U R Q P H Q W D O 5 H Y L H Z 7 L P H 0 D W H U L D O 3 H U P L W W L Q J 6 X S S R U W 6 H U Y L F H V 7 L P H 0 D W H U L D O $ U E R U L V W 6 H U Y L F H V 7 L P H 0 D W H U L D O )( ( ( 6 7 , 0 $ 7 ( & 2 3 3 ( 5 5 , ' * ( 6 7 2 5 0 6 < 6 7 ( 0 , 0 3 5 2 9 ( 0 ( 1 7 3 5 2 - ( & 7 Í Č ô ώ ͐ ώ ĺ ċ ώ ͒ EX H I B I T B *HRWHFKQLFDO4$4& *HRWHFKQLFDO(QJLQHHU *HRWHFKQLFDO(QJLQHHU $UFKDHRORJLVW 6HQLRU$UFKDHRORJLVW 3HUPLWWLQJ $JHQF\0LWJV &ULWLFDO$UHDV5HSRUW /HDG 6HQLRU%LRORJLVW %LRORJLVW *,66SHFLDOLVW 1 D P H 3 L Q H D X - R H O 3 \ U F K $ O O L V R Q $ O GH U . 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