Normas de dibujo tecnico
- 3. WĂƌĂ ĐŽŶƐƵůƚĂ͗
ϭ͘ hE ϭϭϲϲ ϭ͗ϭϵϵϲ͘ ŽĐƵŵĞŶƚĂĐŝſŶ ƚĠĐŶŝĐĂ ĚĞ ƉƌŽĚƵĐƚŽƐ͘
sŽĐĂďƵůĂƌŝŽ͘ ϭ
Ϯ͘ hE E /^K ϭϬϮϬϵ Ϯ͗ϭϵϵϲ͘ ŽĐƵŵĞŶƚĂĐŝſŶ ƚĠĐŶŝĐĂ ĚĞ ƉƌŽĚƵĐƚŽƐ͘
sŽĐĂďƵůĂƌŝŽ͘ Ϯ
ϯ͘ hE E /^K ϱϰϱϲ ϭ͗ϮϬϬϬ͘ ŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘ DĠƚŽĚŽƐ ĚĞ
ƉƌŽLJĞĐĐŝſŶ͘ WĂƌƚĞ ϭ͗ ^ŝŶŽƉƐŝƐ͘
ϰ͘ hE E /^K ϱϰϱϲ Ϯ͗ϮϬϬϬ͘ ŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘ DĠƚŽĚŽƐ ĚĞ
ƉƌŽLJĞĐĐŝſŶ͘ WĂƌƚĞ Ϯ͗ ZĞƉƌĞƐĞŶƚĂĐŝŽŶĞƐ KƌƚŽŐƌĄĨŝĐĂƐ͘
ϱ͘ hE E /^K ϱϰϱϲ ϯ͗ϮϬϬϬ͘ ŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘ DĠƚŽĚŽƐ ĚĞ
ƉƌŽLJĞĐĐŝſŶ͘ WĂƌƚĞ ϯ͗ ZĞƉƌĞƐĞŶƚĂĐŝŽŶĞƐ ĂdžŽŶŽŵĠƚƌŝĐĂƐ͘
ϲ͘ hE E /^K ϱϰϱϲ ϰ͗ϮϬϬϬ͘ ŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘ DĠƚŽĚŽƐ ĚĞ
ƉƌŽLJĞĐĐŝſŶ͘ WĂƌƚĞ ϰ͗ WƌŽLJĞĐĐŝſŶ ĞŶƚƌĂů͘
ϳ͘ hE E /^K ϭϮϴ ϮϬ͗ϮϬϬϮ͘ ŝďƵũŽƐ dĠĐŶŝĐŽƐ͘ WƌŝŶĐŝƉŝŽƐ ŐĞŶĞƌĂůĞƐ
ĚĞ ƉƌĞƐĞŶƚĂĐŝſŶ͘ WĂƌƚĞ ϮϬ͗ ŽŶǀĞŶĐŝŽŶĞƐ ŐĞŶĞƌĂůĞƐ ƉĂƌĂ ůşŶĞĂƐ͘
ϴ͘ hE ϭϭϯϱ͗ϭϵϴϵ ŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘ ŝƐƚĂ ĚĞ ĞůĞŵĞŶƚŽƐ͘
WWWWWWWWWĂĂĂĂĂĂĂƌƌƌƌĂĂĂĂĂĂWWWWWW ĐĐĐĐŽŽŽŽŽŽŽŽŽŽŽŶŶŶŶŶƐƐƐƐƐƐƐƐƐƵƵƵƵƵƵƵůůůůƚƚƚƚĂĂĂ͗͗ůůůƚƚƚƚ
ϭϭϲϲϲϲϲϲ ϭϭϭϭ͗͗ϭϭϭϭϵϵϵϵϵϵϵϲϲϲ͘͘ ŽŽŽŽŽĐĐƵƵƵŵŵŵĞĞĞĞĞŶŶŶƚƚĂĂĂĐĐĐŝŝŝŝſſſŶŶŶ ƚƚĠĠĠĠĠĐĐŶŶŶŶŝŝŝŝĐĐĐĐĐĂĂ ĚĚĚĚĞĞĞĞ ƉƉƉƉƌŽŽŽĚĚĚĚƵĐƚŽŽŽƐ
ďƵůĂĂĂƌƌƌƌŝŝŝŽŽŽŽŽ͘͘͘ ϭϭϭϭϭϭϭϭ
EE //^^KK ϭϭϬϬϮϮϬϵϵ ϮϮ͗͗ϭϭϵϵϵϵϲϲ͘ ŽŽĐĐƵƵŵŵĞĞŶŶƚƚĂĂĐĐŝŝſſŶŶ ƚƚĠĠĠĐĐŶŶŝĐĐĂĂ ĚĚĞĞ
ďďƵůůĂĂƌƌŝŝŽŽ ϮϮ
- 4. EŽƌŵĂƐ ďĄƐŝĐĂƐ
ϵ͘ hE E /^K ϱϰϱϳ͗ϮϬϬϬ͘ ŽĐ͘ dĠĐŶŝĐĂ ĚĞ WƌŽĚ͘ ŽƌŵĂƚŽƐ LJ
ƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ ĞůĞŵĞŶƚŽƐ ŐƌĄĨŝĐŽƐ ĚĞ ůĂƐ ŚŽũĂƐ ĚĞ ĚŝďƵũŽ͘
ϭϬ͘hE E /^K ϳϮϬϬ͗ϮϬϬϰ͘ ͘ d͘ ĚĞ W͘ ĂŵƉŽƐ ĚĞ ĚĂƚŽƐ ĞŶ
ďůŽƋƵĞƐ ĚĞ ƚşƚƵůŽƐ LJ ĐĂďĞĐĞƌĂƐ ĚĞ ĚŽĐƵŵĞŶƚŽƐ͘
ϭϭ͘hE E /^K ϱϰϱϱ͗ϭϵϵϲ͘ ŝďƵũŽƐ dĠĐŶŝĐŽƐ͘ ƐĐĂůĂƐ͘
ϭϮ͘hE ϭϬϯϮ͗ϭϵϴϮ͘ ŝďƵũŽ dĠĐŶŝĐŽ͘ WƌŝŶĐŝƉŝŽƐ ŐĞŶĞƌĂůĞƐ ĚĞ
ƌĞƉƌĞƐĞŶƚĂĐŝſŶ͘
ϭϯ͘hE ϭϬϯϵ͗ϭϵϵϰ͘ ŝďƵũŽ dĠĐŶŝĐŽ͘ ĐŽƚĂĐŝſŶ͘
ϭϰ͘hE E /^K ϲϰϭϬ ϭ͗ϭϵϵϲ ͘ ŝď͘ d͘ ZŽƐĐĂƐ LJ ƉŝĞnjĂƐ ƌŽƐĐĂĚĂƐ͘
WĂƌƚĞ ϭ͗ ŽŶǀĞŶŝŽƐ 'ĞŶĞƌĂůĞƐ
ϭϱ͘hE E /^K ϲϰϭϬ ϯ͗ϭϵϵϲ͘ ŝď͘ d͘ ZŽƐĐĂƐ LJ ƉŝĞnjĂƐ ƌŽƐĐĂĚĂƐ͘
WĂƌƚĞ ϯ͗ ZĞƉƌĞƐĞŶƚĂĐŝſŶ ƐŝŵƉůŝĨŝĐĂĚĂ
hE E /^K ϱϰϱϳ͗ϮϬϬϬ ŽĐ͘ dĠĐŶŝĐĂ ĚĞ WƌŽĚ͘ ŽƌŵĂƚŽƐ LJ
ƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ ĞůĞŵĞŶƚŽƐ ŐƌĄĨŝĐŽƐ ĚĞ ůĂƐ ŚŽũĂƐ ĚĞ ĚŝďƵũŽ͘
^ĞƌŝĞ
ŵŵϮ ͖ ϬсϭŵϮ
džсϭϭϴϵ ŵŵ͖ LJсϴϰϭ ŵŵ
͖ WƌŽƉŽƌĐŝŽŶĂůŝĚĂĚ͘
Ϭ ϭ͘ϭϴϵ ϴϰϭ
ϭ ϴϰϭ ϱϵϰ
Ϯ ϱϵϰ ϰϮϬ
ϯ ϰϮϬ Ϯϵϳ
ϰ Ϯϵϳ ϮϭϬ
͙ ͙ ͙
ĞŶƚĂĐŝſŶ͘
Ϭϯϵϵϵϵϵϵ͗͗͗ϭϭϭϵϵϵϵϵϵϰϰϰ͘ ŝďƵũũũũũũũũŽŽŽŽ dddĠĠĠĐĐĐŶŶŶŶŶŶŶŶŶŶŝĐŽ͘ ĐĐĐŽŽŽŽŽŽŽŽƚƚƚƚƚƚƚƚƚƚƚƚĂĂĂĂĂĂĂĂĂĂĂĂĂĂĐĐĐĐĐĐĐĐĐŝŝŝſſſŶŶŶŶŶŶŶŶ͘
E /^^^^K ϲϰϭϬϬϬ ϭ͗ϭϵϵϵϲ ͘ ŝď͘͘ ddddddddddd͘ ZŽƐĐĂƐ LJ ƉŝĞĞĞnjĂƐ
ϭ͗ ŽŽŽŽŶǀĞŶŝŽŽŽƐ 'ĞĞĞŶĞƌĂůĞƐƐ
E /^^^^K ϲϰϭϬϬϬ ϯ͗ϭϵϵϵϲ͘ ŝŝŝŝďďďďďďďďďďďď͘ d͘ ZŽƐƐƐƐƐƐƐƐƐƐƐĐĐĐĂƐ LJ ƉŝĞnjĂƐ ƌƌƌ
ϯ͗ ZĞĞĞĞƉƌĞƐĞŶŶŶŶŶŶŶŶƚĂĐŝſſſŶ ƐŝŵƉƉƉƉƉůůůůůůůůůůůůŝĨŝĐĂĚĂĂĂ
/^K ϱϰϱϳ͗ϮϬϬϬ ŽĐ͘ dĠĐŶŝĐĂ ĚĞ WƌŽĚ͘ Žƌƌŵŵŵ
ĐŝſŶŶ ĚĞ ĞĞůĞŵĞŶƚŽŽƐ ŐŐŐŐŐŐŐŐŐŐƌĄĨŝĐŽƐ ĚĞ ůĂƐ ŚŽũũũũũũũũĂĂƐƐ ĚĞ ĚĚĚĚĚ
ŵŵŵŵŵŵŵŵϮϮϮϮϮϮϮϮϮ ͖͖͖ ϬϬϬϬϬϬϬϬϬϬсссссссϭϭϭŵŵŵŵŵŵŵŵŵŵŵŵϮϮϮϮϮϮϮϮϮϮϮ
dždžсϭϭϭϭϴϴϵϵ ŵŵŵŵ͖͖ LJLJсϴϴϰϰϭϭ ŵŵŵŵ
- 5. hE E /^K ϱϰϱϳ͗ϮϬϬϬ ͘ d͘ ĚĞ W͘ ŽƌŵĂƚŽƐ LJ ƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ
ĞůĞŵĞŶƚŽƐ ŐƌĄĨŝĐŽƐ ĚĞ ůĂƐ ŚŽũĂƐ ĚĞ ĚŝďƵũŽ͘
ŽƐ ĨŽƌŵĂƚŽƐ Ϭ Ă ϯ ĞƐƚĄŶ ĂƉĂŝƐĂĚŽƐ͕ Ğů ϰ ĞƐ ǀĞƌƚŝĐĂů͘
DĄƌŐĞŶĞƐ ĚĞů ĄƌĞĂ ĚĞ ĚŝďƵũŽ͗ ϮϬ ŵŵ Ă ůĂ ŝnjƋ͘ LJ ϭϬ ŵŵ ůŽƐ ĚĞŵĄƐ͘
hE E /^K ϱϰϱϳ͗ϮϬϬϬ ͘ d͘ ĚĞ W͘ ŽƌŵĂƚŽƐ LJ ƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ
ĞůĞŵĞŶƚŽƐ ŐƌĄĨŝĐŽƐ ĚĞ ůĂƐ ŚŽũĂƐ ĚĞ ĚŝďƵũŽ͘
KƚƌŽƐ ĞůĞŵĞŶƚŽƐ ŐƌĄĨŝĐŽƐ͕ ĂĚĞŵĄƐ ĚĞů ĐƵĂĚƌŽ ĚĞ ĚŝďƵũŽ LJ Ğů ĐĂũĞƚşŶ͕
ƐŽŶ͗ Ğů ƐŝƐƚĞŵĂ ĚĞ ĐŽŽƌĚĞŶĂĚĂƐ LJ ůĂƐ ŵĂƌĐĂƐ ĚĞ ĐĞŶƚƌĂĚŽ͘
ŝǀŝƐŝŽŶĞƐ ůĂĚŽ͗
ĂƌŐŽ ŽƌƚŽ
Ϭ Ϯϰ ϭϲ
ϭ ϭϲ ϭϮ
Ϯ ϭϮ ϴ
ϯ ϴ ϲ
ϰ ϲ ϰ
^K ϱϰϱϳ͗ϮϬϬϬ ͘ d͘ ĚĞ W͘ ŽƌŵĂƚŽƐ LJ ƉƌĞƐĞŶŶŶŶŶ
Ɛ ŐƌƌĄĄĨŝĐŽŽƐ ĚĞ ůĂƐ ŚŽũũũũũũũũĂƐ ĚĞ ĚŝďƵũũũũũũũũŽ͘
ĞůĞŵŵŵŵŵŵŵĞĞĞĞŶŶƚƚƚƚƚƚƚƚƚƚŽŽŽŽŽƐƐƐƐƐƐƐƐƐƐƐƐ ŐŐŐŐŐŐŐŐŐŐŐŐŐŐŐƌƌƌƌƌƌƌĄĄĄĨĨĨĨĨĨŝŝŝĐĐĐĐĐĐĐĐĐĐĐĐĐŽŽŽŽŽŽŽŽŽŽŽŽŽƐƐƐƐƐƐƐƐƐƐƐƐƐƐ͕͕͕͕͕ ĂĂĂĂĂĂĂĂĂĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞŵŵŵŵŵŵŵŵŵŵŵŵŵŵĄĄĄĄĄĄĄĄĄĄĄĄĄĄĄĄĄĄƐƐƐƐƐƐƐ ĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞĞůů ĐĐĐĐĐƵƵƵƵĂĂĂĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚƌƌƌƌƌƌŽŽŽŽŽŽŽŽŽŽŽŽŽŽŽŽ ĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞ ĚĚĚĚŝŝŝďďďďďďďďďďďďďƵƵƵƵƵƵƵƵũŽ LJLJLJ
͗ Ğů ƐƐŝŝŝŝŝŝŝŝŝƐƐƐƐƐƐƐƐƐƐƐƚƚƚƚƚƚƚƚƚƚƚƚƚĞĞĞĞĞĞĞĞĞĞĞĞŵŵŵŵŵŵŵŵĂ ĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞ ĐĐĐŽŽŽŽŽŽŽŽŽŽŽŽƌƌĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞŶŶŶŶŶŶŶŶŶŶŶŶĂĂĂĂĂĂĂĂĂĂĚĚĚĂĂĂĂĂĂĂƐƐƐƐƐƐƐƐƐƐƐƐƐ LJLJLJLJLJLJLJLJLJLJ ůůůůůůůůĂĂĂĂĂĂĂƐƐƐƐƐƐƐƐƐƐ ŵŵŵŵŵŵŵŵŵŵŵĂĂĂĂĂĂĂĂĂĂĂƌƌƌĐĐĐĐĐĐĐĐĐĐĂĂĂĂĂƐ ĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞĞ ĐĐĐĐĐĐĐĐĞĞĞĞŶƚƌĂĂĂ
ĂĚŽ͗͗
ŽƌƚŽ
- 6. hE E /^K ϳϮϬϬ͗ϮϬϬϰ͘ ŽĐ͘ dĠĐŶŝĐĂ ĚĞ WƌŽĚ͘ ĂŵƉŽƐ ĚĞ
ĚĂƚŽƐ ĞŶ ďůŽƋƵĞƐ ĚĞ ƚşƚƵůŽƐ LJ ĐĂďĞĐĞƌĂƐ ĚĞ ĚŽĐƵŵĞŶƚŽƐ͘
^Ğ ƚƌĂƚĂ ĚĞ ƌĞĂůŝnjĂƌ ƵŶ ͞ďůŽƋƵĞ ĚĞ ƚşƚƵůŽƐ͟ Ž ĐĂũĞƚşŶ ĐŽŶ ůŽƐ ĚĂƚŽƐ
ƉƌĞĐŝƐŽƐ ƉĂƌĂ ƋƵĞ ůĂ ŝŶĨŽƌŵĂĐŝſŶ ƚƌĂŶƐĨĞƌŝĚĂ ƐĞĂ ĐůĂƌĂ LJ ƐƵĨŝĐŝĞŶƚĞ͘
WĂƌĂ ĞůůŽ ƐĞ ĚĞĨŝŶĞŶ ĞŶ ůĂ ŶŽƌŵĂ͕ ůŽƐ ĐĂŵƉŽƐ ƋƵĞ ƐĞ ŚĂŶ ĚĞ ŝŶĐůƵŝƌ ďŝĞŶ
ŽďůŝŐĂƚŽƌŝĂŵĞŶƚĞ Ž ĚĞ ĨŽƌŵĂ ŽƉƚĂƚŝǀĂ LJ ƐƵ ĚŝŵĞŶƐŝſŶ͘ ŽƐ ĐĂŵƉŽƐ ƐĞ
ĞůŝŐĞŶ ĚĞ ĞŶƚƌĞ ůŽƐ ƋƵĞ ƐĞ ŵƵĞƐƚƌĂŶ ĞŶ ůĂ ƚĂďůĂ ĂĚũƵŶƚĂ͘
^Ğ ŵƵĞƐƚƌĂ ƵŶ ĞũĞŵƉůŽ ĚĞ ĐĂũĞƚşŶ ĚĂĚŽ ĞŶ ůĂ ŶŽƌŵĂ͘
ĂŵƉŽƐ ĚĞ
ĚĂƚŽƐ
EŽŵďƌĞ ĚĞů ĐĂŵƉŽ
EǑ ĐĂƌĂĐƚĞƌĞƐ
ƌĞĐŽŵĞŶĚĂĚŽ
KďůŝŐĂƚŽƌŝĞĚĂĚ
ĚĞ
ŝĚĞŶƚŝĨŝĐĂĐŝſŶ
ĚĞů ďůŽƋƵĞ ĚĞ
ƚşƚƵůŽƐ
WƌŽƉŝĞƚĂƌŝŽ ůĞŐĂů EŽ ĞƐƉĞĐŝĨŝĐĂĚŽ ^ŝ
EƷŵĞƌŽ ĚĞ ŝĚĞŶƚŝĨŝĐĂĐŝſŶ ϭϲ ^ŝ
1ŶĚŝĐĞ ĚĞ ƌĞǀŝƐŝſŶ Ϯ EŽ
ĞĐŚĂ ĚĞ ĞĚŝĐŝſŶ ϭϬ ^ŝ
EƷŵĞƌŽ ĚĞ ƐĞŐŵĞŶƚŽͬŚŽũĂ ϰ ^ŝ
EǑ ĚĞ ƐĞŐŵĞŶƚŽƐͬŚŽũĂƐ ϰ EŽ
ſĚŝŐŽ ĚĞ ŝĚŝŽŵĂ ϰ ƉŽƌ ŝĚŝŽŵĂ EŽ
ĚĞƐĐƌŝƉƚŝǀŽƐ
ĚĞů ďůŽƋƵĞ ĚĞ
ƚşƚƵůŽƐ
dşƚƵůŽ ϮϱͬϯϬ Ă ^ŝ
dşƚƵůŽ ƐƵƉůĞŵĞŶƚĂƌŝŽ Ϯ п ϮϱͬϯϬ Ă EŽ
ĂĚŵŝŶŝƐƚƌĂƚŝ
ǀŽƐ ĚĞů ďůŽƋƵĞ
ĚĞ ƚşƚƵůŽƐ
ĞƉĂƌƚĂŵĞŶƚŽ ƌĞƐƉŽŶƐĂďůĞ ϭϬ EŽ
ZĞĨĞƌĞŶĐŝĂ ƚĠĐŶŝĐĂ ϮϬ EŽ
ƉƌŽďĂĚŽ ƉŽƌ ϮϬ ^ŝ
ƌĞĂĚŽ ƉŽƌ ϮϬ ^ŝ
dŝƉŽ ĚĞ ĚŽĐƵŵĞŶƚŽ ϯϬ ^ŝ
ůĂƐŝĨŝĐĂĐŝſŶͬƉĂůĂďƌĂƐ ĐůĂǀĞ EŽ ĞƐƉĞĐŝĨŝĐĂĚŽ EŽ
ƐƚĂĚŽ ĚĞů ĚŽĐƵŵĞŶƚŽ ϮϬ EŽ
EƷŵĞƌŽ ĚĞ ƉĄŐŝŶĂ ϰ EŽ
EƷŵĞƌŽ ĚĞ ƉĄŐŝŶĂƐ ϰ EŽ
dĂŵĂŹŽ ĚĞů ƉĂƉĞů ϰ EŽ
EŽŵďƌĞ ĚĞů ĐĂŵƉŽ
EǑ ĐĂƌĂĐƚĞƌĞƐ
ƌĞĐŽŵĞŶĚĂĚŽ
KKKK
WƌŽŽƉƉƉƉŝŝĞƚĂĂƌƌŝŝŽŽ ůĞŐŐŐŐĂĂůů EEŽŽ ĞĞƐƐƉĞĞĐĐŝŝĨĨŝĐĂĂĚĚŽŽ
EƷƷŵŵŵŵĞĞƌƌŽ ĚĚĞĞĞĞ ŝŝŝŝŝŝŝĚĚĚĚĚĚĚĞĞĞŶŶŶŶƚƚƚƚŝŝĨĨŝŝŝŝŝŝĐĐĐĐĐĐĐĐĂĂĂĂĂĂĐĐĐĐĐĐŝŝŝŝŝŝŝŝſſŶŶŶŶ ϭϭϭϭϲϲϲϲϲϲϲϲϲ
1ŶĚĚŝŝĐĐĐĐĐĞĞĞĞĞĞ ĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞ ƌƌƌƌƌĞĞĞĞǀŝŝƐƐŝŝŝŝŝŝŝſſſſſſſŶŶŶŶŶŶŶ ϮϮϮϮϮϮ
ĞĐĐŚŚŚŚĂĂĂĂĂĂĂĂĂĂ ĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞ ĞĞĞĞĞĞĚĚĚĚĚĚŝŝŝŝŝŝĐĐŝſſŶŶŶŶŶŶŶŶ ϭϭϭϭϭϭϬϬϬϬϬϬ
EƷƷŵŵŵŵŵŵĞĞĞĞƌƌƌƌƌƌŽŽŽŽŽŽŽŽ ĚĚĚĚĞĞĞĞĞ ƐƐƐƐƐƐĞĞŐŐŵŵŵŵŵŵŵŵŵĞĞĞĞĞĞĞŶŶŶŶŶŶƚƚƚƚƚŽŽŽŽŽŽŽŽͬͬͬͬͬͬŚŚŚŚŚŚŽŽŽŽŽŽŽŽũũũũĂĂĂĂ ϰϰϰ
EǑ ĚĚĞ ƐĞŐŵĞŶƚŽƐͬŚŚŽũĂƐ ϰ
ſſſĚĚĚŝŝŝ
- 7. KƚƌŽƐ ĐĂŵƉŽƐ ĚĞ ĚĂƚŽƐ ƐĞ ƉƌĞƐĞŶƚĂŶ ĨƵĞƌĂ ĚĞů ďůŽƋƵĞ ĚĞ ƚşƚƵůŽƐ ƐŽůŽ
ĐƵĂŶĚŽ ƐĞ ƵƚŝůŝnjĂŶ͕ ƉŽƌ ĞũĞŵƉůŽ͕ ůĂ ĞƐĐĂůĂ͕ Ğů ƐşŵďŽůŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ͕ ůŽƐ
ƌĞƋƵŝƐŝƚŽƐ ŐĞŶĞƌĂůĞƐ ĂƉůŝĐĂďůĞƐ Ă ůĂƐ ƚŽůĞƌĂŶĐŝĂƐ LJ Ă ůĂ ƚĞdžƚƵƌĂ ƐƵƉĞƌĨŝĐŝĂů͘
^Ğ ŵƵĞƐƚƌĂ ͞ďůŽƋƵĞ ĚĞ ƚşƚƵůŽƐ͟ Ž ĐĂũĞƚşŶ͕ ĂƉůŝĐĂĚŽ ĞŶ ůŽƐ ĞũĞƌĐŝĐŝŽƐ ĚĞ ůĂ
ĂƐŝŐŶĂƚƵƌĂ͕ ĐŽŶ ŝŶĚŝĐĂĐŝſŶ ĚĞ ůĂ ĞƐĐĂůĂ LJ Ğů ƐşŵďŽůŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ͕ LJ ŽƚƌŽ
ĐŽŶ ͞ůŝƐƚĂ ĚĞ ĞůĞŵĞŶƚŽƐ͟ ;hE ϭϭϯϱ͗ϭϵϴϵͿ
hE E /^K ϱϰϱϱ͗ϭϵϵϲ͘ ŝďƵũŽƐ dĠĐŶŝĐŽƐ͘ ƐĐĂůĂƐ͘
ƐĐĂůĂ͗ ZĞůĂĐŝſŶ ĞŶƚƌĞ ůĂ ŵĞĚŝĚĂ ůŝŶĞĂů ĚĞ ůĂ ƌĞƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ ƵŶ
ĞůĞŵĞŶƚŽ ĚĞ ƵŶ ŽďũĞƚŽ ƐŽďƌĞ ƵŶ ĚŝďƵũŽ ŽƌŝŐŝŶĂů LJ ůĂ ŵĞĚŝĚĂ ůŝŶĞĂů ƌĞĂů
ĚĞů ŵŝƐŵŽ ĞůĞŵĞŶƚŽ ĚĞů ŽďũĞƚŽ ƌĞĂů͘
ƐĐĂůĂƐ ƌĞĐŽŵĞŶĚĂĚĂƐ
ƐĐĂůĂƐ ĚĞ ĂŵƉůŝĂĐŝſŶ
ϱϬ͗ϭ ϮϬ͗ϭ ϭϬ͗ϭ
ϱ͗ϭ Ϯ͗ϭ
dĂŵĂŹŽ ŶĂƚƵƌĂů ϭ͗ϭ
ƐĐĂůĂƐ ĚĞ ƌĞĚƵĐĐŝſŶ
ϭ͗Ϯ ϭ͗ϱ ϭ͗ϭϬ
ϭ͗ϮϬ ϭ͗ϱϬ ϭ͗ϭϬϬ
ϭ͗ϮϬϬ ϭ͗ϱϬϬ ϭ͗ϭ ϬϬϬ
ϭ͗Ϯ ϬϬϬ ϭ͗ϱ ϬϬϬ ϭ͗ϭϬ ϬϬϬ
Ŷ ĐĂƐŽƐ ĞdžĐĞƉĐŝŽŶĂůĞƐ͕ ĞŶ ůŽƐ ƋƵĞ ůĂƐ ĞƐĐĂůĂƐ ƌĞĐŽŵĞŶĚĂĚĂƐ ŶŽ
ƉƵĞĚĂŶ ĂƉůŝĐĂƌƐĞ͕ ƐĞ ƉƵĞĚĞŶ ĞůĞŐŝƌ ĞƐĐĂůĂƐ ŝŶƚĞƌŵĞĚŝĂƐ͘
E /^K ϱϰϱϱ͗ϭϵϵϲ͘ ŝďƵũŽƐ dĠĐŶŝĐŽƐ͘ ƐĐĂĂĂĂĂ
ĞůĂĐĐŝŝſſŶ ĞĞŶŶƚƌĞĞ ůůĂĂ ŵŵĞĞĚĚŝŝĚĚĂĂ ůůŝŶŶĞĞĂĂů ĚĚĞĞ ůĂ ƌƌĞĞƉƉƌƌĞĞƐƐĞĞŶƚĂĂĐĐĐ
ĚĞ ƵƵŶŶŶŶŶŶ ŽŽďďďďďũũũĞĞĞĞĞĞĞƚƚƚƚƚƚƚŽŽŽŽŽŽŽ ƐƐƐƐŽŽŽďďďďďďďďƌƌƌƌƌĞĞĞĞĞĞĞ ƵƵƵƵŶŶŶŶ ĚĚĚĚŝŝŝŝŝďďďďďďďďďďƵƵũũũũũũŽŽŽŽŽŽŽŽ ŽŽŽƌƌƌƌŝŝŝŐŐŐŐŝŝŶŶĂĂĂĂĂĂĂĂůů LJLJLJLJLJLJLJLJLJ ůůůůĂĂ ŵŵĞĞĞĞĞĞĞĞĞĞĚĚŝĚĚĂĂĂĂ
ĞůĞŵŵĞĞĞĞĞĞĞŶŶŶŶŶŶŶŶŶŶŶƚƚƚƚƚŽŽŽŽŽ ĚĚĞĞĞĞůůůůůů ŽŽŽŽŽŽŽŽďďũũĞĞĞĞĞĞĞƚƚŽŽ ƌƌƌƌĞĞĞĞĞĞĞĂĂĂĂĂůůůů͘͘
- 8. ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
DĠƚŽĚŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ ĚĞů ƉƌŝŵĞƌ ĚŝĞĚƌŽ͘
^Ğ ƐĞůĞĐĐŝŽŶĂ ůĂ ǀŝƐƚĂ ĚĞ ĂůnjĂĚŽ͕ Ă ƉĂƌƚŝƌ ĚĞ ĞůůĂ ůĂƐ ĚĞŵĄƐ ĞƐƚĄŶ
ĚĞĨŝŶŝĚĂƐ͘
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
ĠƚŽŽŽŽĚĚĚĚŽŽŽŽ ĚĚĚĚĚĚĞĞ ƉƉƉƉƉƌƌƌƌƌƌƌƌŽŽŽŽŽŽLJLJLJLJLJLJLJLJLJLJĞĞĞĞĞĐĐĐĐĐĐĐĐĐĐŝŝŝŝŝŝſſſſſſſŶŶŶ ĚĚĚĚĚĚĚĞĞĞĞĞĞůů ƉƉƉƉƉƉƉƉƉƌƌƌƌƌŝŝŵŵŵŵŵŵĞĞĞƌƌƌƌ ĚĚĚĚĚĚĚŝŝĞĚĚƌƌƌƌ
ĐŝŽŶŶŶŶĂĂĂĂĂĂĂĂ ůůĂĂĂĂĂ ǀǀǀǀŝŝƐƐƚƚƚƚƚƚƚƚƚƚĂĂĂĂĂĂĂ ĚĚĚĚĞĞ ĂĂĂĂĂĂĂĂůůůůůnjnjnjnjnjĂĂĂĚĚĚĚĚŽŽ͕͕ ĂĂĂĂ ƉƉƉƉƉƉƉĂĂƌƌƌƌƌƌƚƚƚƚƚƚƚƚƚŝŝŝŝƌƌƌƌ ĚĚĚĚĞĞĞ ĞĞĞĞĞĞĞůůůůůůůůĂĂĂĂĂ ůůůůůĂĂĂĂĂĂƐƐƐƐƐƐ ĚĚĚĞĞŵŵŵŵŵŵŵŵŵĄĄƐ ĞĞĞ
Ɛ͘
- 9. ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
DĠƚŽĚŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ ĚĞů ƉƌŝŵĞƌ ĚŝĞĚƌŽ͘
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
DĠƚŽĚŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ ĚĞů ƉƌŝŵĞƌ ĚŝĞĚƌŽ͘
ůĞĐĐŝſŶ ĚĞů ůnjĂĚŽ͗ ^Ğ ĞůŝŐĞ ůĂ ǀŝƐƚĂ ŵĄƐ ĐĂƌĂĐƚĞƌşƐƚŝĐĂ ĚĞ ůĂ ƉŝĞnjĂ͕
ŐĞŶĞƌĂůŵĞŶƚĞ͕ ƐƵ ƉŽƐŝĐŝſŶ ŚĂďŝƚƵĂů͕ Ž ůĂ ƉŽƐŝĐŝſŶ ƉƌŝŶĐŝƉĂů ƉĂƌĂ ƐƵ
ĨĂďƌŝĐĂĐŝſŶ ;Ž ůĂ ƋƵĞ ŵĞŶŽƐ ůşŶĞĂƐ ŽĐƵůƚĂƐ ƚĞŶŐĂͿ͘ ů ĞůĞŐŝƌ ƵŶ ĂůnjĂĚŽ Ƶ
ŽƚƌŽ͕ ŵŽĚŝĨŝĐĂ ůĂ ƉŽƐŝĐŝſŶ ĚĞ ůĂƐ ǀŝƐƚĂƐ͕ ƉĞƌŽ ŶŽ ƐƵ ĨŽƌŵĂ͘
sŝƐƚĂƐ ŶĞĐĞƐĂƌŝĂƐ͗ ĂƐ ƐƵĨŝĐŝĞŶƚĞƐ ƉĂƌĂ ƋƵĞ ƋƵĞĚĞ ĚĞĨŝŶŝĚĂ ůĂ ƉŝĞnjĂ͘ ;Ŷ
ĐĂƐŽ ĚĞ ĚƵĚĂ͕ ƐĞ ĚŝďƵũĂ ŽƚƌĂ Ž ƵŶ ĐŽƌƚĞ Ž ĚĞƚĂůůĞͿ͘
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
ĠƚŽŽŽŽĚĚĚĚŽŽŽŽ ĚĚĚĚĚĚĞĞ ƉƉƉƉƉƌƌƌƌƌƌƌƌŽŽŽŽŽŽLJLJLJLJLJLJLJLJLJLJĞĞĞĞĞĐĐĐĐĐĐĐĐĐĐŝŝŝŝŝŝſſſſſſſŶŶŶ ĚĚĚĚĚĚĚĞĞĞĞĞĞůů ƉƉƉƉƉƉƉƉƉƌƌƌƌƌŝŝŵŵŵŵŵŵĞĞĞƌƌƌƌ ĚĚĚĚĚĚĚŝŝĞĚĚƌƌƌƌ
ĚĞů ůůnjnjĂĂĂĂĂĂĚĚĚŽŽŽŽ͗͗͗͗͗ ^^^^^ĞĞĞĞ ĞĞĞĞĞĞůůůůůůůŝŝŝŝŝŝŝŐŐŐŐŐŐŐĞĞĞ ůůůůĂĂ ǀǀǀǀŝŝŝŝŝŝŝŝŝŝƐƐƐƐƐƚƚĂĂ ŵŵŵŵĄĄƐƐƐƐ ĐĐĐĐĐĐĂĂĂĂĂĂĂĂƌƌƌƌƌĂĂĂĂĂĂĂĐĐĐĐĐĐƚƚƚƚƚƚƚƚƚĞĞĞĞĞƌƌşşƐƐƚƚƚƚƚƚŝŝŝŝŝŝŝĐĐĐĐĐĐĂĂ ĚĚĚĚ
ŶƚĞ͕͕ ƐƐƐƐƐƵƵƵƵƵƵƵƵ ƉƉƉƉƉƉŽŽŽŽƐƐŝŝĐĐŝŝſſſſſſſŶŶŶŶŶ ŚŚŚŚŚĂĂďďďŝŝŝŝŝƚƚƚƚƚƚƚƵƵĂĂĂůů͕͕͕͕͕ ŽŽŽ ůůĂĂĂĂĂĂĂĂ ƉƉƉƉƉƉƉŽŽŽŽŽƐƐŝŝŝŝĐĐĐĐŝŝŝŝŝſſſŶŶŶŶ ƉƉƉƉƉƌƌŝŝŶĐŝƉƉƉƉ
;Ž ůůĂĂĂĂ ƋƋƋƋƋƋƋƋƋƵƵƵƵƵƵĞĞĞĞĞ ŵŵĞĞĞĞĞĞĞŶŶŶŶŶŽŽƐƐ ůůůůůůůşşşşşŶŶŶŶŶŶŶŶŶĞĞĞĂĂĂĂƐƐƐƐƐƐƐƐƐ ŽŽŽŽĐĐƵƵƵůƚƚĂĂĂĂĂĂƐƐƐƐƐƐƐƐƐƐ ƚƚƚƚƚƚƚĞĞĞĞĞŶŶŶŶŶŶŐŐŐŐŐŐŐŐŐĂĂĂĂĂĂͿͿͿͿͿ͘͘͘͘ ůůů ĞĞĞĞĞĞĞůůůůůůůůĞĞĞĞĞĞĞĞĞĞĞĞĞŐŐŝŝƌ ƵƵƵƵ
ĨŝĐĂĂ ůůĂĂ ƉƉŽƐƐŝŝĐĐŝŝſŶŶ ĚĚĚĞĞ ůůĂƐƐ ǀǀŝŝƐƐƚĂĂƐƐ͕ ƉƉĞĞƌƌŽŽ ŶŶŽŽ ƐƐƵƵ ĨĨŽŽƌƌŵŵĂĂ͘
ĐĞƐĂƌŝŝĂƐ͗ ĂƐ ƐƵĨĨŝŝĐŝŝĞŶƚƚĞƐ ƉĂƌĂ ƋƵĞ ƋƵĞĚĚĞ ĚĚĞĨĨŝŝŶŝŝĚĚĂ ůůĂĂĂ
- 10. ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
DĠƚŽĚŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ ĚĞů ƚĞƌĐĞƌ ĚŝĞĚƌŽ͘
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
DĠƚŽĚŽ ĚĞ ƉƌŽLJĞĐĐŝſŶ ĚĞů ƚĞƌĐĞƌ ĚŝĞĚƌŽ͘
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
ĠƚŽŽĚĚĚĚŽŽ ĚĚĚĚĚĞĞĞĞĞ ƉƉƉƉƉƌƌƌƌƌŽŽŽŽŽŽŽŽŽLJLJLJLJLJĞĞĞĞĞĞĞĞĐĐĐĐĐĐĐĐĐĐĐŝŝŝŝſſſſſſſſŶŶŶŶŶŶ ĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞůůůůů ƚƚƚƚƚƚƚĞĞĞĞĞĞĞĞĞƌƌƌƌƌĐĐĞĞƌƌƌƌƌƌƌ ĚĚĚĚŝŝŝŝŝŝĞĞĞĞĞĞĚĚƌŽŽŽ
- 12. dŝƉŽƐ ĚĞ ůşŶĞĂƐ͘
,ĂLJ ĚŽƐ ŐƌŽƐŽƌĞƐ ĚĞ ůşŶĞĂƐ͗ 'ƌƵĞƐĂ LJ ĨŝŶĂ͘
KƌĚĞŶ ĚĞ ƉƌŝŽƌŝĚĂĚ ĚĞ ůşŶĞĂƐ ĐŽŝŶĐŝĚĞŶƚĞƐ
^ŝ ĚŽƐ Ž ŵĄƐ ůşŶĞĂƐ ĚĞ ŶĂƚƵƌĂůĞnjĂ ĚŝĨĞƌĞŶƚĞ ĐŽŝŶĐŝĚĞŶ͕ Ğů
ŽƌĚĞŶ ĚĞ ƉƌŝŽƌŝĚĂĚ ĞƐ Ğů ƐŝŐƵŝĞŶƚĞ͗
ϭͿ ĐŽŶƚŽƌŶŽƐ LJ ĂƌŝƐƚĂƐ ǀŝƐƚŽƐ͖
ϮͿ ĐŽŶƚŽƌŶŽƐ LJ ĂƌŝƐƚĂƐ ŽĐƵůƚŽƐ͖
ϯͿ ƉůĂŶŽƐ ĚĞ ĐŽƌƚĞ͖
ϰͿ ĞũĞƐ ĚĞ ƌĞǀŽůƵĐŝſŶ LJ ƐŝŵĞƚƌşĂ͘
͙
ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗ sŝƐƚĂƐ ƉĂƌƚŝĐƵůĂƌĞƐ Ž ƵdžŝůŝĂƌĞƐ͘
ϯͿ ƉůĂŶŽƐ ĚĞ ĐŽƌƚĞ͖͖
ϰͿ ĞĞũũũĞĞĞƐ ĚĚĚĞ ƌĞĞĞǀŽůƵƵĐŝŝſſſŶ LJ ƐƐŝŵĞĞƚƚƚƚƌƌƌƌƌƌƌşşşşşĂĂĂĂĂĂ͘
͙
ĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗ sŝƐƚĂƐ ƉĂƌƚŝĐƵůĂƌĞƐ Ž ƵƵƵƵ
- 13. ŝƐƉŽƐŝĐŝſŶ ĚĞ ǀŝƐƚĂƐ͗
sŝƐƚĂƐ ůŽĐĂůĞƐ͘
ĂƐ ǀŝƐƚĂƐ ůŽĐĂůĞƐ ƐĞ ĚŝďƵũĂŶ ĐŽŶ ůşŶĞĂ
ĐŽŶƚŝŶƵĂ ŐƌƵĞƐĂ͕ LJ ĚĞďĞŶ ŝƌ ƵŶŝĚĂƐ Ă ůĂ
ǀŝƐƚĂ ƉƌŝŶĐŝƉĂů ƉŽƌ ŵĞĚŝŽ ĚĞ ƵŶĂ ůşŶĞĂ ĨŝŶĂ
ĚĞ ƚƌĂnjŽƐ LJ ƉƵŶƚŽƐ͘
ZĞƉƌĞƐĞŶƚĂĐŝſŶ ƐŝŵƉůŝĨŝĐĂĚĂ ĚĞ
ŝŶƚĞƌƐĞĐĐŝŽŶĞƐ͘
WƵĞĚĞŶ ƌĞƉƌĞƐĞŶƚĂƌƐĞ ůĂƐ ŝŶƚĞƌƐĞĐĐŝŽŶĞƐ
ĚĞ ĨŽƌŵĂ ƐŝŵƉůŝĨŝĐĂĚĂ ĐŽŵŽ ĂƌŝƐƚĂƐ ǀŝƐƚĂƐ
Ž ĨŝĐƚŝĐŝĂƐ ;ĐƵĂŶĚŽ ŚĂLJ ƌĞĚŽŶĚĞŽͿ͘
RUWHV
,QWURGXFFLyQ
RUWH WRWDO
0HGLR FRUWH
RUWH JLUDGR
RUWH DX[LOLDU
RUWH GH GHWDOOH
RUWH ORFDO R SDUFLDO 5RWXUDV
6HFFLRQHV DEDWLGDV GHVSOD]DGDV
2WUDV FRQVLGHUDFLRQHV VREUH FRUWHV VHFFLRQHV
ŝŶƚƚĞĞƌƌƐƐĞĞĐĐĐĐŝŽŶĞĞƐƐ͘͘
ĞƉƌĞĞƐƐƐƐĞŶƚĂƌƐĞĞ ůĂƐ ŝŶƚƚĞƌƐĞĐĐŝŽŽŶĞĞƐƐ
ŵƉƉůůŝŝŝĨŝĐĂĚĂ ĐĐŽŽŵŽ ĂĂƌŝƐƚĂƐ ǀŝŝŝŝƐƚƚĂĂĂĂĂƐƐƐƐƐƐƐƐ
ĐƵĂĂŶŶŶŶĚŽ ŚĂLJ ƌƌƌĞĚŽŶĚĚĞŽͿ͘
,,,,QQQQQQQWWWWWWWUUUUUUURRRRRRRGGXXXXXXFFFFFFFFFFFFFFFFFLLLLyyyyyyyQQQQQ
RRUUWWHH WWRRWWDDOO
- 14. ^Ğ ƚƌĂƚĂ ĚĞ ƌĞƉƌĞƐĞŶƚĂƌ ůĂ ĨŝŐƵƌĂ ĚĂĚĂ ĞŶ ƉĞƌƐƉĞĐƚŝǀĂ͘
^ƵƐ ǀŝƐƚĂƐ ƐĞ ŵƵĞƐƚƌĂŶ Ă ůĂ ĚĞƌĞĐŚĂ͘
ŽŵŽ ŚĂLJ ďĂƐƚĂŶƚĞƐ ĞůĞŵĞŶƚŽƐ ŽĐƵůƚŽƐ ĞŶ ƵŶĂ
ĚĞ ĞůůĂƐ͕ ƐĞ ǀĂ Ă ĂƉůŝĐĂƌ ƵŶ ĐŽƌƚĞ͘
ŽƌƚĞ ƚŽƚĂů͗
ů ĐŽƌƚĞ ƋƵĞ ƐĞ ĂƉůŝĐĂ ĞƐ ĨŝĐƚŝĐŝŽ
;ůĂ ƉŝĞnjĂ ŶŽ ƐĞ ĐŽƌƚĂ ƌĞĂůŵĞŶƚĞͿ
Ŷ Ğů ĐŽƌƚĞ ƐĞ ŵƵĞƐƚƌĂ ůĂ ĨŝŐƵƌĂ
ƋƵĞ ŚĂLJ ƚƌĂƐ Ğů ƉůĂŶŽ ĚĞ ĐŽƌƚĞ͘
Ŷ ůĂ ƐĞĐĐŝſŶ͕ ƐſůŽ ůĂ ƐƵƉĞƌĨŝĐŝĞ
ƋƵĞ ƐĞ ĐŽƌƚĂƌşĂ͘
- 15. ŽƌƚĞ ƚŽƚĂů͗
^ŝ Ğů ĐŽƌƚĞ ĞƐ ƉŽƌ ƵŶ ƉůĂŶŽ ĚĞ ƐŝŵĞƚƌşĂ͕ ŶŽ ŚĂĐĞ ĨĂůƚĂ ŝŶĚŝĐĂƌůŽ͘
Ŷ ůĂƐ ǀŝƐƚĂƐ ƐĞ ƐƵƐƚŝƚƵLJĞ ůĂ ǀŝƐƚĂ ĐŽŶ ĞůĞŵĞŶƚŽƐ ŽĐƵůƚŽƐ ƉŽƌ ƐƵ
ĐŽƌƚĞ͘
^Ğ ƌĂLJĂ ůĂ ƉĂƌƚĞ ƐĞĐĐŝŽŶĂĚĂ͘
Ŷ ƚŽĚŽ ŵŽŵĞŶƚŽ ƐĞ ƌĞƉƌĞƐĞŶƚĂ ůĂ ƉŝĞnjĂ ŽƌŝŐŝŶĂů͕ Ğů ĐŽƌƚĞ ĞƐ
ĨŝĐƚŝĐŝŽ͘
ŽƌƚĞ ƚŽƚĂů͗
^ŝ Ğů ĐŽƌƚĞ ĞƐ ƉŽƌ ƵŶ ƉůĂŶŽ ĚĞ ƐŝŵĞƚƌşĂ͕ ŶŽ ŚĂĐĞ ĨĂůƚĂ ŝŶĚŝĐĂƌůŽ͘
^ŝŶŽ ƐĞ ŝŶĚŝĐĂ ƉŽƌ ŵĞĚŝŽ ĚĞ ƵŶĂ ůşŶĞĂ ĨŝŶĂ ĚĞ ƚƌĂnjŽƐ LJ ƉƵŶƚŽƐ͕ ŐƌƵĞƐĂ
ĞŶ ůŽƐ ĞdžƚƌĞŵŽƐ LJ ĞŶ ůŽƐ ĐĂŵďŝŽƐ ĚĞ ĚŝƌĞĐĐŝſŶ͘ ů ƉůĂŶŽ ĚĞ ĐŽƌƚĞ ƐĞ
ĚĞƐŝŐŶĂ ĐŽŶ ůĞƚƌĂƐ ŵĂLJƷƐĐƵůĂƐ͕ LJ Ğů ƐĞŶƚŝĚŽ ĚĞ ŽďƐĞƌǀĂĐŝſŶ ŵĞĚŝĂŶƚĞ
ĨůĞĐŚĂƐ͘
Ğ ĞƐ ƉŽƌ ƵŶ ƉůĂŶŽ ĚĞ ƐŝŵĞƚƌşĂ͕ ŶŽ ŚĂĐĞ ĨĂůƚƚĂĂĂĂ
ƚĂƐƐ ƐƐƐƐĞĞĞĞ ƐƐƐƵƵƵƐƐƐƚƚƚƚŝŝƚƵLJĞĞ ůůůĂĂĂĂ ǀǀǀŝŝŝƐƐƐƐƚƚƚƚĂĂĂĂ ĐŽŶ ĞĞůůůůĞĞĞĞĞŵŵŵŵŵŵŵĞĞĞĞŶŶƚƚƚƚƚƚƚŽŽŽŽŽŽŽƐƐƐƐƐƐ ŽŽŽŽŽŽĐĐƵůůƚƚƚ
Ă ƉƉĂĂĂĂƌƚĞ ƐĞĐĐĐĐŝŽŶĂĂĚĂ͘
ŵŽŽŵŵŵŵĞŶƚŽ ƐƐĞ ƌĞƉƉƌĞƐĞŶƚƚƚƚĂĂĂĂĂĂ ůĂ ƉŝĞnjnjnjnjnjnjĂ ŽƌŝŐŝŶĂů͕ ĞĞůů
ŽƌƚĞ ƚŽƚĂů͗
ĞƐ ƉƉƉŽŽƌ ƵƵƵƵƵŶŶŶŶŶŶŶŶŶ ƉƉƉƉƉƉƉůůĂĂĂĂŶŶŶŶŽŽŽŽŽŽŽ ĚĚĚĚĚĚĞĞĞĞĞĞĞĞĞ ƐƐƐŝŝŝŝŵŵĞĞĞƚƚƚƚƚƌƌƌƌƌƌƌşşşşşĂĂĂĂĂĂ͕͕͕͕͕͕͕ ŶŶŽŽŽ ŚŚŚŚŚŚĂĂĂĂĐĐĐĐĐĐĞĞĞĞĞĞĞĞĞĞĞ ĨĨĂĂĂĂĂĂůůůůůůůůƚƚƚƚƚƚƚƚƚĂĂ ŝŶŶĚĚĚĚĚĚĚĚĚĚŝŝŝŝŝŝŝŝŝŝĐĐĂĂƌƌůůŽŽŽ
ĚŝĐĐĂĂ ƉƉƉƉƉƉƉƉƉŽŽŽŽŽŽŽŽŽŽŽŽƌƌƌƌ ŵŵŵŵĞĞĞĞĞĞĚĚĚĚĚĚĚĚŝŝŽŽŽŽŽŽ ĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞ ƵƵƵƵƵŶŶŶŶŶĂĂĂĂĂĂ ůůşşşŶŶŶŶŶŶŶŶŶŶĞĞĞĞĞĞĞĞĞĞĂĂĂĂĂĂĂĂĂĂĂĂĂ ĨĨĨĨĨŝŝŶŶŶŶĂĂĂĂĂĂĂ ĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞ ƚƚƚƚƚƚƚƚƌƌĂĂĂnjnjnjnjnjnjnjnjnjnjŽŽŽŽŽŽŽƐƐƐƐƐƐ LJLJLJLJLJLJLJLJLJ ƉƉƵŶŶŶŶ
ƌĞŵŵŽŽŽŽŽŽŽƐƐƐƐƐƐƐƐƐƐ LJLJLJLJLJLJLJLJ ĞĞĞĞĞĞĞŶŶŶŶŶŶŶ ůůŽŽŽŽŽŽŽŽŽŽƐƐƐƐƐƐƐ ĐĐĐĐĐĐĂĂĂŵŵŵŵŵŵŵŵŵďďďŝŝŝŝŝŝŝŽŽŽŽŽŽŽŽŽƐƐ ĚĚĚĚĚĞĞĞĞĞĞ ĚĚĚĚĚĚŝŝŝƌƌƌƌƌƌƌƌƌƌĞĞĞĞĞĞĐĐĐĐĐĐĐĐĐĐĐŝŝŝŝŝŝŝŝſſſſſŶŶŶŶŶ͘͘ ůůů ƉƉƉƉƉƉƉůůůůůĂĂĂĂĂĂĂĂĂĂŶŶŽ ĚĚĚĚ
Ŷ ůĞĞƚƚƚƚƚƚƚƌƌƌƌƌĂĂĂĂĂĂĂƐƐƐƐƐƐƐ ŵŵŵŵŵĂĂĂĂĂĂĂLJLJƷƷƷƷƷƷƷƷƷƷƐƐƐƐƐƐƐĐĐĐĐĐƵƵƵƵƵƵƵƵůůůůůůůůĂĂĂĂĂƐƐƐƐƐ͕͕͕͕͕ LJLJLJLJ ĞĞĞĞĞĞĞĞůůů ƐƐƐƐĞĞĞĞĞŶŶŶŶŶŶŶŶƚƚƚƚƚƚƚŝŝŝŝŝĚĚĚĚĚĚĚĚĚĚĚĚĚĚŽŽŽŽŽŽ ĚĚĚĚĚĚĚĚĞĞĞĞ ŽŽŽŽŽŽŽŽŽŽŽŽŽďďďďďďďďƐƐƐƐƐƐƐĞĞĞĞĞĞƌƌƌƌƌƌǀǀǀǀǀǀĂĂĂĂĂĂĂĂĂĐĐŝſſŶŶŶ
- 16. ŽƌƚĞ ƚŽƚĂů͗
0HGLR FRUWH
^Ğ ĂƉůŝĐĂ ĐƵĂŶĚŽ ŚĂLJ ĚŽƐ ƉůĂŶŽƐ ĚĞ ƐŝŵĞƚƌşĂ͘
Ă ƉĂƌƚĞ ǀŝƐƚĂ LJ ĞŶ ĐŽƌƚĞ͕ ƐĞ ƐĞƉĂƌĂŶ ƉŽƌ ůşŶĞĂ ĚĞ ĞũĞ͘
Ŷ ůĂ ƉĂƌƚĞ ǀŝƐƚĂ ŶŽ ƐĞ ĚŝďƵũĂŶ ůşŶĞĂƐ ŽĐƵůƚĂƐ͘
Ŷ ƚŽĚŽ ŵŽŵĞŶƚŽ ƐĞ ƌĞƉƌĞƐĞŶƚĂ ůĂ ƉŝĞnjĂ ŽƌŝŐŝŶĂů͕ Ğů ĐŽƌƚĞ ĞƐ
ĨŝĐƚŝĐŝŽ͘
- 19. RUWH ORFDO R SDUFLDO 5RWXUDV
/D OtQHD GH URWXUD HV
FRQWLQXD ILQD D PDQR
1R SXHGHQ VHU DULVWDV
6HFFLRQHV DEDWLGDV GHVSOD]DGDV
‡6HFFLyQ DEDWLGD
‡RQWRUQR FRQ OtQHD ILQD
‡6H UDD
‡6H SXHGH DFRWDU
‡6HFFLyQ XQLGD DO SHUILO FRQ
OtQHD GH HMH
‡RQWRUQR FRQ OtQHD JUXHVD
‡6H UDD
‡6H SXHGH DFRWDU
‡6HFFLyQ GHVSOD]DGD
‡RQWRUQR FRQ OtQHD
JUXHVD
‡6H UDD
‡6H SXHGH DFRWDU
6HFFLRQHV DEDWLGDV GHVSOD]DGDVVVV
- 21. 2WUDV FRQVLGHUDFLRQHV VREUH FRUWHV VHFFLRQHV
/DV GLIHUHQWHV SDUWHV FRUWDGDV GH XQD PLVPD SLH]D WLHQHQ HO
PLVPR UDDGR LGpQWLFDPHQWH
6L ODV SLH]DV HVWiQ X[WDSXHVWDV HO UDDGR VH GHEH RULHQWDU
R HVSDFLDU GH GLVWLQWR PRGR
2WUDV FRQVLGHUDFLRQHV VREUH FRUWHV VHFFLRQHV
(MHV ILQRV HMHV PDFL]RV R UHIXHU]RV QR VH FRUWDQ D[LDOPHQWH
(OHPHQWRV GLVWULEXLGRV FLUFXODUPHQWH VLHPSUH TXH TXHGH
FODUD VX IRUPD HQ XQD GH ODV YLVWDV VH UHSUHVHQWDQ HQ OD RWUD
FRPR GRV RSXHVWRV
FRQVLGHUDFLRQHV VREUH FRUWHV VHFFFF
RV HHHHMMMMHHVVVV PPPPPPPPDDFFFFFLL]]]]]RRRRRRRRRVV RRRRR UUUUHHHHHHIIIIIIIXXXXXXXXHHHHHUUUUUUUUUUU]]]]]]]]]]]]]RRRRRVVVVVVV QQQQQQQQQQRRRRRR VVVVVVHHHHH FFFFFFFRRRRRRUUUUUUWWWWWWWDDDDDDDDDDQQQQQQ D[[[[
RV GGGGGGGGGGLLVVVVVVWWWWWUUULLEEEEEXXXXXXXXLLLLGGGGRRVVVVVVV FFFLLLLLUUFFXXXOOOODDDDDDDDDDDDUUUUUUPPPPPPPPPHHHHHQQQQWWWWHHHH VVVVVVLLLLLLLHHHHHHPPPPPPPPSSSSSSSUUUUUUUHHHHHHHH TTXXXX
RUPPPDDDDDDDDDD HHHHHHHQQQQQQ XXXXXXQQDDDDDDDDDD GGGGGGHH OODDVVVVVVV YYYLLLVVVVVWWWWWWDDDDDDVVVVVV VVVHHHHH UUUUUHHHHSSSSSSUUUUUHHHHVVVHHHHHHQQQQQQQWWDQQ
RSSXXXXXXHHHHHHHVVVVVVVVVVWWWWRRRRRRRVVVV
- 22. 2WUDV FRQVLGHUDFLRQHV VREUH FRUWHV VHFFLRQHV
(MHV ILQRV HMHV PDFL]RV R UHIXHU]RV QR VH FRUWDQ D[LDOPHQWH
(OHPHQWRV GLVWULEXLGRV FLUFXODUPHQWH VLHPSUH TXH TXHGH
FODUD VX IRUPD HQ XQD GH ODV YLVWDV VH UHSUHVHQWDQ HQ OD RWUD
FRPR GRV RSXHVWRV
sŝƐƚĂƐ ĚĞ ƉŝĞnjĂƐ ƐŝŵĠƚƌŝĐĂƐ͗
^Ğ ƉƵĞĚĞŶ ƌĞƉƌĞƐĞŶƚĂƌ ůĂƐ ƉŝĞnjĂƐ ƐŝŵĠƚƌŝĐĂƐ ŵĞĚŝĂŶƚĞ ŵĞĚŝĂ ǀŝƐƚĂ Ž ƵŶ
ĐƵĂƌƚŽ ĚĞ ǀŝƐƚĂ͘
Ă ƚƌĂnjĂ ĚĞů ƉůĂŶŽ ĚĞ ƐŝŵĞƚƌşĂ ƋƵĞ ůŝŵŝƚĂ Ğů ĐŽŶƚŽƌŶŽ ĚĞ ůĂ ǀŝƐƚĂ ƐĞ ŵĂƌĐĂ
ĞŶ ĐĂĚĂ ƵŶŽ ĚĞ ƐƵƐ ĞdžƚƌĞŵŽƐ ƉŽƌ ĚŽƐ ƉĞƋƵĞŹŽƐ ƚƌĂnjŽƐ ĨŝŶŽƐ ƉĂƌĂůĞůŽƐ͕
ƉĞƌƉĞŶĚŝĐƵůĂƌĞƐ Ăů ĞũĞ͘ K ďŝĞŶ͕ ƐĞ ƉƵĞĚĞ ƉƌŽůŽŶŐĂƌ ůĂ ƉŝĞnjĂ ůŝŐĞƌĂŵĞŶƚĞ
ŵĄƐ ĂůůĄ ĚĞ ůĂ ƚƌĂnjĂ ĚĞů ƉůĂŶŽ ĚĞ ƐŝŵĞƚƌşĂ͘
sŝƐƚĂƐ ĚĞ ƉŝĞnjĂƐ ƐŝŵĠƚƌŝĐĂƐ͗
Ŷ ƌĞĞƉƉƉƉƌƌĞƐƐĞĞŶŶƚĂĂƌƌ ůůĂĂƐƐ ƉƉŝŝĞĞnjnjĂĂƐƐ ƐŝŝŵŵĠĠƚƚƌƌŝŝĐĐĂĂƐƐ ŵŵĞĚĚŝĂĂŶƚƚĞĞ ŵŵĞĚŝŝĂĂĂĂ
ŝƐƚĂĂ͘͘͘͘
ƉůĂĂŶŶŶŽŽŽŽŽŽ ĚĚĚĚĚĚĞĞĞĞĞ ƐƐŝŝŵŵŵŵŵŵŵŵŵĞĞĞĞĞĞĞĞƚƚƌƌşşşşĂĂĂĂĂĂĂ ƋƋƵƵƵƵĞĞĞĞĞ ůůŝŝŝŝŵŵŝŝŝŝŝŝŝŝŝƚƚƚƚƚƚƚƚĂĂĂĂĂĂĂ ĞĞĞĞĞĞůů ĐĐĐŽŽŽŽŽŽŽŶŶŶŶŶŶƚƚƚƚƚŽŽƌƌƌƌƌƌƌŶŶŽŽ ĚĚĚĚĚĚĞĞĞĞ ůůůůůĂĂ ǀŝƐƐƚƚƚƚ
Ž ĚĞĞ ƐƐƵƵƵƵƵƵƵƐƐƐƐƐƐƐƐ ĞĞĞĞĞĞĞdždždždžƚƚƌƌĞĞĞĞĞŵŵŵŵŵŽŽƐƐƐ ƉƉƉƉƉƉƉƉƉƉƉƉŽŽŽŽŽŽŽŽƌƌƌ ĚĚĚĚĚĚĚĚĚĚĚĚŽŽŽƐƐƐ ƉƉƉĞĞĞĞƋƋƋƋƋƋƵƵƵƵƵƵƵƵƵƵƵĞĞĞĞĞĞŹŹŹŹŽŽŽŽŽŽŽŽŽƐƐƐƐƐƐƐƐƐƐƐ ƚƚƚƚƚƌƌƌƌƌƌĂĂĂĂĂĂĂĂĂĂnjnjŽŽŽƐƐ ĨĨĨĨĨĨĨĨĨŝŝŝŝŝŝŝŝŝŝŝŶŶŶŶŶŶŶŽƐ ƉƉƉƉ
ƵůĂƌƌĞĞƐƐƐƐ ĂĂĂĂůůůůů ĞĞĞĞĞĞĞũũũũũĞĞĞĞĞĞĞ͘ KKK ďďďďďďďŝŝŝŝŝĞĞĞĞĞĞĞĞĞŶŶŶŶŶŶ͕ ƐƐƐƐƐĞĞĞĞ ƉƉƵƵƵƵƵƵƵĞĞĞĚĚĞĞĞĞĞ ƉƉƉƉƉƉƉƉƌƌŽŽŽŽŽŽŽŽŽŽůůůůŽŽŽŽŽŶŶŶŶŐŐŐŐŐŐĂĂĂĂƌƌ ůůůůůůůůůĂĂĂĂĂĂĂ ƉƉƉƉƉƉŝŝĞĞnjnjnjnjnjnjnjĂĂĂĂĂĂ ůŝŐŐŐŐ
ůůĂĂůĂ ƚƚƌƌĂĂnjnjĂĂƚƌĂnjĂ ĚĚĞĞůůĚĞů ƉƉůůĂĂŶŶŽŽƉůĂŶŽ ĚĚĞĞĚĞ ƐƐŝŝŵŵĞĞƚƚƌƌşşĂĂ͘ƐŝŵĞƚƌşĂ͘
- 23. džƚƌĞŵŽƐ ĐƵĂĚƌĂĚŽƐ ĚĞ ůŽƐ ĞũĞƐ
sŝƐƚĂƐ ŝŶƚĞƌƌƵŵƉŝĚĂƐ
ZĞƉƌĞƐĞŶƚĂĐŝſŶ ĚĞ ĞůĞŵĞŶƚŽƐ ƌĞƉĞƚŝƚŝǀŽƐ
ů ŶƷŵĞƌŽ LJ ůĂ ĨŽƌŵĂ ĚĞ ůŽƐ ĞůĞŵĞŶƚŽƐ ƌĞƉĞƚŝƚŝǀŽƐ ĚĞďĞŶ
ĞƐƉĞĐŝĨŝĐĂƌƐĞ ŵĞĚŝĂŶƚĞ ůĂ ĂĐŽƚĂĐŝſŶ Ž ŵĞĚŝĂŶƚĞ ƵŶĂ ŶŽƚĂ͘
ĞƚĂůůĞƐ ƌĞƉƌĞƐĞŶƚĂĚŽƐ Ă ŵĂLJŽƌ ĞƐĐĂůĂ
Ă ƌĞƉƌĞƐĞŶƚĂĐŝſŶ Ž ĂĐŽƚĂĐŝſŶ ĐůĂƌĂ ĚĞ ƵŶ ĚĞƚĂůůĞ ƉƵĞĚĞ ƌĞƉƌĞƐĞŶƚĂƌƐĞ
Ă ŵĂLJŽƌ ĞƐĐĂůĂ͘ WĂƌĂ ĞůůŽ͕ ƐĞ ƌŽĚĞĂ Ğů ĚĞƚĂůůĞ ĐŽŶ ƵŶĂ ůşŶĞĂ ĐŽŶƚŝŶƵĂ ĨŝŶĂ͕
ŝĚĞŶƚŝĨŝĐĄŶĚŽůŽ ĐŽŶ ƵŶĂ ůĞƚƌĂ ŵĂLJƷƐĐƵůĂ͘ ƐƚĞ ĚĞƚĂůůĞ ƐĞ ĚŝďƵũĂ ĂƉĂƌƚĞ LJ
ƐĞ ŝŶĚŝĐĂ ůĂ ĞƐĐĂůĂ ũƵŶƚŽ Ă ůĂ ůĞƚƌĂ ĚĞ ŝĚĞŶƚŝĨŝĐĂĐŝſŶ͘
hƚŝůŝnjĂĐŝſŶ ĚĞ ĐŽůŽƌĞƐ
EŽ ƐĞ ƌĞĐŽŵŝĞŶĚĂ ůĂ ƵƚŝůŝnjĂĐŝſŶ ĚĞ ĐŽůŽƌĞƐ ĞŶ ůŽƐ ĚŝďƵũŽƐ ƚĠĐŶŝĐŽƐ͘
ĞƚĂůůĞƐ ƌĞƉƌĞƐĞŶƚĂĚŽƐ Ă ŵĂLJŽƌ ĞƐĐĂůůĂĂĂ
ĞŶƚƚĂĂĐĐŝſſŶŶ ŽŽ ĂĂĐĐŽŽƚƚĂĂĂĐĐŝſſŶŶ ĐĐůĂĂƌƌĂĂ ĚĚĞĞĞ ƵƵŶŶ ĚĚĞĞƚƚĂůůůůĞĞĞ ƉƉƵƵĞĞĚĚĞĞ ƌĞĞƉƉƉ
ĐĂůĂĂ͘͘͘ WWĂĂƌƌƌƌƌĂĂĂ ĞĞĞĞĞĞĞĞĞůůůůůůůůůŽŽŽŽ͕͕ ƐƐĞĞĞĞĞĞĞĞ ƌƌƌƌƌŽŽŽŽŽŽŽĚĚĚĚĞĞĞĞĂĂĂĂĂĂ ĞĞĞĞĞůůůůůů ĚĚĚĚĚĞĞĞĞĞĞĞĞƚƚƚƚƚƚƚƚĂĂĂĂĂĂĂůůůůůĞĞĞĞ ĐĐŽŽŽŶŶŶŶŶŶŶŶ ƵƵƵƵƵƵƵƵŶŶŶŶŶŶŶŶĂĂĂĂĂĂ ůşşŶŶĞĞĞĞĞĞĂĂĂĂĂĂĂĂ ĐŽŽŶ
ĚŽůŽŽ ĐĐĐĐĐĐŽŽŽŽŽŽŽŽŽŽŽŶŶ ƵƵƵƵŶŶĂĂĂĂĂĂĂ ůůĞĞĞĞĞĞĞĞƚƚƌƌĂĂĂĂĂĂĂ ŵŵŵŵĂĂĂĂĂLJLJLJLJLJLJƷƷƷƷƷƐƐĐĐĐƵƵƵƵƵƵƵƵůůůůůůůůĂĂĂĂ͘͘ ƐƐƚƚƚƚƚƚƚĞĞĞĞĞĞ ĚĚĚĚĚĚĞĞĞĞĞĞƚƚƚƚƚƚĂĂůůůůůůůůůĞĞĞĞĞĞĞĞĞ ƐƐƐƐĞĞĞĞĞ ĚŝďďƵƵƵƵ
ĞƐĐĐĂĂĂĂůůůůĂĂĂĂ ũũũũũũũƵƵƵƵƵƵŶŶŶŶƚƚƚƚŽ ĂĂĂĂĂĂ ůůĂĂ ůůĞĞĞĞĞĞĞĞĞƚƚƚƚƚƚƚƚƚƚƌƌƌƌƌƌƌƌĂĂ ĚĚĚĚĚĚĚĚĚĚĚĞĞĞĞĞĞĞĞĞ ŝŝŝĚĚĞĞĞĞŶŶƚƚƚŝŝŝŝŝŝŝŝŝŝĨĨĨĨĨĨĨĨĨĨĨŝŝŝŝŝŝĐĐĐĐĂĂĂĂĐĐĐĐĐĐĐĐĐĐĐŝŝŝŝŝŝŝŝſſſſſſſſŶŶŶŶŶŶ͘͘͘͘͘͘