5(&200(1'(' )25 )8//

3XUVXDQW WR 6L[WK &LUF

(/(&7521,& &,7$7,21  )

)LOH 1DPH D

	


	




(;,1*721 
1685$1&(

203$1<

 

	






!"! "22/:257+

203$1<

	



)**+,
-.	

,	,/--0

!$1%((((2304	,+

).637

/0-...-.6

96	9::	.

3.!






	  ,+ 3! :50)	
 -0-- ,- .+ = < >
7 




!$$%&'($

 8-)**!
,+3!:50)	

59
	<50)	
-0--,-)**!  - ! .+ = < >,-.*,- 8-9. !	 .=<)/		+,-)**!







/)?
/ )! 	 -0- 3.!  ) ,**- +

**,+@.+-8-..>0  -0 0-   - 0-+ .- ,  - , 4   - , .+. ,.*+-!

)@ .8.-0-8,!,.--0

0-+ *..,8,+,--,-.+- ,..-0-+*-@ ** .+-- ,  . 00*0   , .+-. *+- -0- +-A-,,00-.   , - 8 ,, ,  A-. ,..4*,*+- -.-.+ -.*--.,.0,.-.+00!


*
8-00.,,.--00>

00-,0** -.,80+*.+!",,80,@.+
.+.,0 @.+

,8.-0-8,!




, .. !"! ", !   %-+

	*--.,-*,-,**-+4 , 9. B!  ",> -- ..9.B
0!,..-*.---,+
!$$%&'($ 



 ,-+,-.- ,. 00.. 9.  0-. **  .+ -0 -   , *-+* !

, -4.--

$$D ,  4 * ,",.-*!),,-C--,",+* . ,,-!,-0.C-8,8-*.,C-*-E$$F7'F!&*-,.-0+!


84-.-8- @-.-0-

-..--0008 -0+!,0+*0-.---0

,0-.@ 

*-.-   +  .8.-0-,-0,--.,.4 !  -  +- +8-.0 C- 4. , @.+-,-00+* ,0.-.,+-.-,000-+!00. E7D7!'D*0+8E+--!** . - .-0    -+ -0**,	-C





C-> 00 0-+ 

-.+- *8--G)-0$H-,..--$FF-,
I 




!$$%&'($

 3$UW  7KH 7HQDQW GXULQJ WKH WHUP KHUHRI VKDOO

LQGHPQLI\ DQG VDYH KDUPOHVV WKH /DQGORUG IURP DQGDJDLQVW DQ\ DQG DOO FODLPV DQG GHPDQGV ZKHWKHU IRULQMXULHV WR SHUVRQV RU ORVV RI OLIH RU GDPDJH WR

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¶V XVH RI WKHμ&RPPRQ )DFLOLWLHV¶ DV GHILQHG LQ $UWLFOHV  DQG KHUHRI ́

--!
)-0$,C,-0,-,-, +-", .-.+- , ..

-J .0-+..+.K,,0-+..+.*-@ -** .+,-@ .+00.-,-,.+-.*+-.,>,*+-!,>---.+- ,..@0C0*-0-+..+.--0+-- ,..-., 0-*0 .4-   , ..  -.+-  ,-0-+..+.*-@ -.** .+--0+--,..,>,,**-+>0++0---!


-0-,.-",>0-

,0 ,,** .+0. ,-.+J--K",>.00*0 ,.*+-!,-- *,,..,*+---8-",.,0+-+-,-0,,*- +0,.- - .   - , !",  , - - - , - -  ,

!$$%&'($ 



-  +-+   L  ,.,,B.+-L.*8--,-J..-.+- .8M.- .0-+.+0  0- ! ! ! - *+-!!!!K, 0-.,-.+- ,0-+.-,0+,.!, 0-8

0-+0+*,. . -,..--.-94--.+--0-+"0-+.  

!--4--**

,0-.-.+- 08,..,++ .+ ,-0, M, ..N00-@ .0--.+-  0 ,   ,.  8 , .. ,0-+ ---   *.+-@ ,0. M,.** N!K,!-.+--0-.,-*0*-,0* ,-0, *8-..  -.+J0-+!K,!*--+8 , , .+ - A,-0,,..-,.0-+* -0+*


*.. , C-> 

-,+ 00*	
	 , @.+ - 	,0-,-0-8.-0-8",!
1 




!$$%&'($

7KH UHVROXWLRQ RI FRQWUDFWXDO DPELJXLWLHV LV D PDWWHU IRU WKH MXU\

6HH &LQFLQQDWL ,QV &R Y &RQWURO 6HUY 7HFK ,QF  1(G 2KLR &W $SS  ILQGLQJ DPELJXLW\ LQ OHDVH DV WR ZKHWKHU LQVXUDQFHFRPSDQ\ FRXOG SURFHHG DJDLQVW WHQDQW IRU LWV QHJOLJHQFH LQ FDXVLQJ D ILUHDQG UHPDQGLQJ IRU MXU\¶V FRQVLGHUDWLRQ

0 0+   -,  @  .  ,8- ,. ,",0++-.0,---., , +--  - ,  0  , .  ",!

C-0-8-00-*-

L,J*-+-K.,,,00+0.,L-+*,,, -  +-- ! ", ,  *-0-* 0-..-,00C*.,,8-+,, ",>0+,C->!, J*-+-K, 0)-07&C+*A.-&"
-4

-00--,C->+,)-07& . 7I  +  -..  +4 , ..*-  +- , .+---8 . -*--,--0!


..-- -00---

*.,+-- C-C-0- .0-- - **  , **-- , JM0N-+ ,8-*.-.+- *8--** -.-00-+  - .+. ** !K  , 0 0-.   C- - ,-00- 
#$1('!	**!''&G!/! ,- $$7H .!   
 %"%&7 
!)**!7.F&$&$!!7.DD(G$F'H!-,0-*-!

 -88.,-0-+ .

-, ,-.-+*   +,.** .+--+-+**.-*,B.!,-.--.,-.%* 0+*-

!$$%&'($ 



 3$UW  7KH /DQGORUG DJU

EXLOGLQJV RQ VDLG μ(QWLUH 3UHPLVRU GDPDJH E\ ILUH WR WKH IXOWKHUHRI

37KH /DQGORUG IXUWKHU DJUHH

DUH GDPDJHG RU GHVWUR\HG E\ ILUGDWH RI WKLV OHDVH RU LI DIWHU VX

DUH GDPDJHG RU GHVWUR\HG WKURXGLUHFWO\ DWWULEXWDEOH WR WKH QHJOLJ/DQGORUG ZLOO SURFHHG ZLWK GXH UHVWRUH WKH VDPH WR WKH VDPH FRQGVXFK GDPDJH RU GHVWUXFWLRQ DQWKHUHDIWHU EXW QRW SULRU WR WKH EHWKLV OHDVH XQOHVV DFFHSWDEOH WR 

SRVVHVVLRQ WR WKH 7HQDQW RI WKH VGHPLVHG ZLWKRXW GLPLQXWLRQ RU 

-!,-L-,---., **    0+ - -0- +,


-0, 

.+.K- *,.-,-.+- *,0++-+-.+- )-0 $ **-   -, .+.!K,-00+* 0-+.+.+.*-., 00-80-+   -, *0  **.+.   ", , ,00--.,8,..>4,

,*-00-

,*-+- -)-07I,J/+  +-!K  
 , **,,-0,A.-
' 




!$$%&'($






3,Q WKH HYHQW RI GDPDJH RU GHVWUXFWLRQ RI WKH

EXLOGLQJ RQ WKH SUHPLVHV KHUHLQ GHPLVHG UHQW DQGDGGLWLRQDO UHQW LI DQ\ VKDOO DEDWH IURP WKH GDWH RI VXFKGDPDJH RU GHVWUXFWLRQ XQWLO WKH /DQGORUG KDV UHSDLUHGRU UHVWRUHG VDLG EXLOGLQJ DQG KDV GHOLYHUHG WR WKH7HQDQW WKH GHPLVHG SUHPLVHV LQ WKH PDQQHU DQG LQ WKHFRQGLWLRQ SURYLGHG LQ WKLV DUWLFOH ́

 3$UW  7KH /DQGORUG DJUHHV WR PDNH DQG SD\ IRU DOO

UHSDLUV VWUXFWXUDO RU RWKHUZLVH WR WKH H[WHULRU RI WKHEXLOGLQJ RQ WKH GHPLVHG SUHPLVHV  DQG DOVR WR PDNHDQG SD\ IRU DOO UHSDLUV WR WKH LQWHULRU RI VDLG EXLOGLQJZKLFK PD\ EH RI D VWUXFWXUDO QDWXUH DQG ZKLFK DUH QRWPDGH QHFHVVDU\ E\ DQ\ XQXVXDO XVH RI WKH GHPLVHGSUHPLVHV E\ WKH 7HQDQW  $Q\WKLQJ LQ WKLV OHDVH WRWKH FRQWUDU\ QRWZLWKVWDQGLQJ WKH /DQGORUG DJUHHV WKDWLI LQ DQ HPHUJHQF\ LW VKDOO EHFRPH QHFHVVDU\ WR

SURPSWO\ PDNH DQ\ UHSDLUV KHUHE\ UHTXLUHG WR EH PDGHE\ WKH /DQGORUG WKH 7HQDQW PD\ DW LWV RSWLRQ SURFHHGIRUWKZLWK WR KDYH VXFK UHSDLUV PDGH DQG SD\ WKH FRVWWKHUHRI 7KH /DQGORUG DJUHHV WR SD\ WKH 7HQDQW WKHFRVW RI VXFK UHSDLUV RQ GHPDQG DQG WKDW LI QRW VR SDLGWKH 7HQDQW PD\ GHGXFW WKH DPRXQW VR H[SHQGHG E\ LWIURP UHQW GXH RU WR EHFRPH GXH ́

4*, ,**-+>-.-  -.-.+ -!,..,, - -.-  .+.  . .   - ,..*0.--,..--0-*-,+!)..----,-)-07&J*-K*-,-0,A.-,+-!


-00-8**,,00-

0.,-)-07&.7I-.. . ,-.+- --+. ,-)-0$!
-00-8-,.,,,,..*+-. --0.*-   , -.- - , 8  .+ .0- -L-,,,-,-.--*04-,*L.+. ,,

!$$%&'($ 



7KH SDUWLHV DJUHH WKDW 2KLR ODZ JRY

ODZ VSHFLILF FRQWUDFWXDO SURYLVLRQV FRQWUR6HH HJ 0RQVOHU Y &LQFLQQDWL &DV &R&W $SS  7R WKH H[WHQW WKDW WKHUH PEHWZHHQ $UWLFOH  ZKLFK LV D JHQHUDO LQ DQG  ZKLFK VSHFLILFDOO\ DGGUHVV ILUSURYLVLRQV VKRXOG FRQWURO, .. 4* , *+- ,-..0),> -J8+-.8 ,++.-. ,  *+-.  .!K*.C-08-,,*7&.7I-+* -.- *-  ,.- , --*-,**)-0$,* -+  *- 4.+4-*,


,,. -

, 08 .., ,,. -0,,A-9,-+ ,+-+*,   ,  .-*-!",-4-.!

,-88-0

-..-0,.. 04. *   -0-.*8-.-.+--0-.+.0,,.,..!,--4. --,,. !  ) , 8   ,-*- ,8.0-.+-L.-8,*0.