HomeMy WebLinkAboutPackets - Council Packets (1181) AGENDA
ORO VALLEY TOWN COUNCIL
STUDY SESSION
JANUARY 26, 2004
ORO VALLEY TOWN COUNCIL CHAMBERS
11000 N. LA CANADA DRIVE
STUDY SESSION - AT OR AFTER 4:30 P.M.
CALL TO ORDER
ROLL CALL
1. DISCUSSION REGARDING THE ECONOMIC DEVELOPMENT AGREEMENT FOR ORO
VALLEY MARKETPLACE RETAIL CENTER (VESTAR DEVELOPMENT) LOCATED ON
THE SOUTHWEST CORNER OF TANGERINE ROAD AND ORACLE ROAD
ADJOURNMENT
The Town of Oro Valley complies with the Americans with Disabilities Act (ADA). If any person with
a disability needs any type of accommodation, please notify the Town Clerk's Office at 229-4700.
Posted: 01/21/04
4:30 p.m.
lh
•
TOWN OF ORO VALLEY
STUDY SESSION
COUNCIL COMMUNICATION MEETING DATE: January 26, 2004
Z
TO: HONORABLE MAYOR& COUNCIL
FROM: JEFFREY H. WEIR, CEcD
ECONOMIC DEVELOPMENT ADMINISTRATOR
SUBJECT: VESTAR ARIZONA XXXIX, L.L.C.'S REQUEST FOR AN ECONOMIC
DEVELOPMENT AGREEMENT FOR THE DEVELOPMENT OF THE ORO VALLEY
MARKETPLACE RETAIL CENTER •
SUMMARY:
ECONOMIC DEVELOPMENT INCENTIVE POLICY GUIDELINES.
On October 3, 2001 the Mayor and Council approved Resolution NO. (R) 01 —90 Adopting Economic
Development Incentive Policy Guidelines (copy of the resolution and guidelines are attached). The
Guidelines provide the Town Council provisions to authorize the use of incentives for the retention and
attraction of certain businesses that are considered beneficial in the diversification of the local economy.
A priority of business types was identified and they are: 1. Resorts, 2. Retail, 3. Other Lodging, 4. High
Tech Job Creation, and 5. Service Providers.
One of the incentives considered available to the Town Council to be offered to the qualifying businesses
include no more than 50% of the NEW retail sales taxes that the project could reasonably be expected to
return within a ten year period. All Retail projects should generate significant sales tax revenues similar
to a community or regional shopping center. The developers of Oro Valley Town Centre, Canada Del
Oro Partners, have requested consideration of an Economic Development Agreement between the Town
and the developer.
BACKGROUND:
THE PROJECT.
Oro Valley Marketplace Retail Center as proposed is an 810,000+ square feet Regional Commercial
Retail Center located on the western side of Oracle Road and south of Tangerine Road. The retail center
as currently planned will be constructed in four phases. Potential tenants include Major and Minor
Retail shops,Restaurants, Interior Design & Furniture Stores, and a multi-screen Theater. The
Developer is committing to completion of and submission to the Town of a Development Plan for Phase 1
(approximately 300,000 sq.ft.) within twelve (12) months of the approval of the Economic Development
Agreement (EDA).
The Developer will be responsible for the construction of on-site and off-site improvements. Many new
community infrastructure improvements will be included as part of this development. These include: 1.
E e
TOWN OF ORO VALLEY
STUDY SESSION
COUNCIL COMMUNICATION PAGE 2 OF 3
Signalization at Oracle Road and the Catalina State Park entrance, 2. Improvements to the eastside levee
BigWash including major trail enhancements and 3. Other"public access" improvements on site.
along J
TheDeveloper
has requested consideration by the Town Council for Revenue Sharing for a portion of the
Town of Oro Valley's Sales Tax Revenues generated from each phase of the project for a period of fifteen
(15) years. At this time it is anticipated that there will be four (4) phases to the project. The Developer has
requested that an average of 50% of the Town's existing 2% Sales Tax be returned to the Developer. The
q request asks for a return
re
q Developers of the new sales taxes generated by each of the four phases of
the projecto
of 70% during years 1 —5; 50% during years 6-10 and 30 /o during years 11 — 15.
Attached fory our review are copies of Resolution NO. (R) 01-90 Economic Development Incentive Policy
Guidelines, thero osed Economic Development Agreement and two spreadsheets, Oro Valley Town
p P
Centre Development Projections and Retail Sales Tax Revenue Sharing Calculations. The Developer has
provided the Capital Investment and Development Estimates, Square Footage and Compositions of
Buildings and Revenue Projections.
ATTACHMENTS:
1. Copy of Resolution NO. (R) 01 —90,Adopting Economic Development Policy Guidelines.
2. Proposed Economic Development Agreement between the Town of Oro Valley and Vestar Arizona
SIX, L.L.C.
3. Oro Valley Marketplace Preliminary Construction Cost Estimate.
4. Oro Valley Marketplace Revenues & Tax Sharing Summary Information Spreadsheet.
5. Oro Valley Marketplace Net New Town Revenues Chart.
6. Six full color sheets depicting: Aerial Site Plan, Elevation Views of the proposed development,
Collage of Development Design Characteristics and Blown Up pictures of two of the Collage items.
FISCAL IMPACT:
• The Development Projections indicate total Retail Sales by Fiscal Year and applicable Town Sales
Tax Revenues at the current rate of 2%.
• The Summary Information sheet has incorporated the specific timing for each revenue sharing phase
for the fifteen year period for each phase.
• The Project is estimated to cost in excess of$ 100.0 Million.
• The twenty one (21) year forecast window indicates that the Project will generate in excess of$ 5.2
Billion of Retail Sales that would be considered as part of the Revenue Sharing agreement.
• The total estimated Retail Sales Tax Revenues for the same twenty one (21) year period is $ 103.2
Million.
• TheP roposed Revenue Sharing for the fifteen (15) year segments associated with the agreement
would provide the following:
T f ,
w
TOWN OF ORO VALLEY
STUDY SESSION
COUNCIL COMMUNICATION PAGE 3 OF 3
FISCAL IMPACT: CON'T.
0 Town of Oro Valley $ 65,699,605 64%
Developer $ 37,515,043 36%
Total $ 103,214,648
0 One-Time Revenues $ 1,155,411
RECOMMENDATION: NOT APPLICABLE.
SUGGESTED MOTION: NOT APPLICABLE.
,...--f-'-r /
or, -
i /- „, /
1 t {
4,, 41
Jeffrey . Weir, CEcD
Economic Development Administrator
/ i/
44 it Ar -
Chuck Swe•t
Town Manager
41
•
RESOLUTION NO. (R) 01 - 90
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF
ORO VALLEY, ARIZONA, ADOPTING ECONOMIC DEVELOPMENT
INCENTIVE POLICY GUIDELINES.
WHEREAS,REAS the Town of Oro Valley's General Plan has identified pursuing diversification of
the local economy as highly desirable and is well supported by the community, and;
WHEREAS the existing Community Economic Development Strategy states that one major
action step desired is the development and adoption of a Business Incentive Policy, and;
WHEREAS,the existing Community Economic Development Strategy further states that the
Town may from time to time wish to use some form of incentives to attract or retain targeted
businesses, and;
WHEREAS,the Town of Oro Valley recognizes the importance of developing a policy and
idelines that include similar considerations for the retention and expansion of existing targeted
businesses as those that apply to the attraction of new targeted businesses;
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND TOWN COUNCIL OF
THE TOWN OF ORO VALLEY, ARIZONA:
The adoption of Exhibit A, Town of Oro Valley Economic Development Incentive Policy
Guidelines, attached herewith, provides examples of items that a business owner/developer may
request consideration for.
PASSED, ADOPTED AND APPROVED by the Mayor and Town Council of the Town of Oro
Valley, Arizona, this 3rd day of oc t ob ,r 2001 .
TOWN OF ORO VAL EY, ARIZONA
Jac,
Paul H. Loomis, Mayor
ATTEST:
Kat n Cuvel i er, Town Clerk
'PROVED : :
EXHIBIT A
TOWN OF ORO VALLEY
ECONOMIC DEVELOPMENT ITNCENTIVE POLICY GUIDELINES
provide To the Town Council a set of guidelines that assist in the retention of targeted
businesses and the attraction of new or expanding targeted businesses to the Town of Oro Valley
resulting in the diversification of the existing tax base and the creation of employment
opportunities.
POLICIES: In certain cases the Town may consider using some form of incentives in order to
attract or retain targeted businesses. These incentives will only be used when the Town satisfies
itself that the addition of the new business or retention and/or expansion of an existing business
would have a significant, positive effect on the Oro Valley economy. The need for
diversification of the local economy which minimizes dependence of residential sales tax
revenues is a necessity. This policy places a priority emphasis on new and existing businesses
thatgenerate si
• ynificant sales tax revenues. As a guideline the following listing can be viewed as
g
a
Pze
rioritid preference: I. Resorts, 2. Retail, 3. Other Lodging, 4. High Tech Job Creation, and
5. Service Providers.
The following general provisions shall be considered prior to offering incentives.
1. Incentives will only be offered if they are actually necessary in order to affect the
retention and/or expansion of an existing business or to attract a new business to the
Town. This would include:
- A situation in which the Town of Oro Valley has determined that the retention of an
existing business is desirable.
- A situation in which the Town of Oro Valley is competing with other cities for the
expansion of an existing business to the Town or where incentives are actually
necessary to affect the expansion of an existing business.
- A situation wherein incentives are needed to induce a business to relocate or expand
their operation to the Town of Oro Valley from an existing site in another city.
- A situation wherein incentives are needed to induce a business to locate their
operation to the Town of Oro Valley.
2. A priority h should be placed on the businesses "targeted" in the Community Economic Development Strategic (CEDS) Plan (1997, or the most recent update).
3. Thero'ect will have a substantial positive economic impact on the community, i.e.; the
p � - will offset
number of jobs created or the sales tax created by the project in the long-term
the short-term costs offered by incentives. Additionally, the project will be of such size
or consequence to produce significant employment or sales in related sectors.
4. Incentives should not continue for more than a 10 year period.
5. An emphasis should be placed on firms that provide diversification (within targeted
industrial or commercial sectors)to the Town's economy.
6. The Town will not buy land or existing buildings or construct buildings for purely private
objectives. The Town's position should be to offer incentives that have a relationship to
public benefit. Improvements such as streets, water lines,traffic signals, storm drainage,
�
parking structures, parks and open space, and similar publicly assessed improvements are
examples of public-private financed incentives. Acquisition of propertyand construction
of buildings, if necessary, must be related to a public purpose.
7. The dollar amount of the incentives offered shall not exceed the cost of the project
considered nor shall the incentive value be more than 50%that the project could
reasonably expect to return in benefits within a ten year period.
8. Private dollars should be utilized whenever possible to up-front identified project costs
and then to be reimbursed by the Town to avoid straining the Town's operational or
bonding capacity and reduce the Town's front-end risks.
Pacy
9.
Incentives can be utilized for resort, retail, commercial and industrial projects Town-
wide.
10. In certain instances incentives may be offered in conjunction with annexation activities
which are viewed as important strategically. In the case of large-scale development
areas, incentives should be combined with a community facilities district, where feasible,
to offer maximum flexibility in attracting development.
II. The intangible or unmeasurable benefits of a business to a community, such as the
location of a headquarters facility, enhancement of attractiveness to other similar
businesses or suppliers, or other similar image-related items are also very important and
should be considered along with other factors when making decisions on incentives.
12. Generally Retail projects which qualify should generate significant sales tax revenues
similar to projects normally identified at a community or regional shopping center level.
13. Specific performance criteria for each project will be established.
14. New Retail development should have an emphasis on meeting a need not currently being
filled in the community, or providing a higher level of service/goods /products than
presently available, or providing similar services in an area not currently being served.
15. Final authority for any approval of the use of an incentive and/or inducement rests with
the Town Council.
16. Each action is separate and independent from all other actions associated with the
approval of the use of an incentive and/or inducement.
DEVELOPMENT AGREEMENT
This Development Agreement (the "Agreement") is entered into this day of
2003, by and between the Town of Oro Valley, an Arizona municipal
corporation (the "Town") and Vestar Arizona XXXIX, L.L.C., an Arizona limited liability
company(the "Owner/Developer").
RECITALS
A. Owner/Developer was formed and exists for the purposes of owning and developing
approximately 100 acres of real property located within the corporate limits of the Town,
legally described and on Exhibit A attached hereto (the "Property").
B. Owner/Developer intends and desires to develop a regional lifestyle/entertainment/power
retail shopping center of approximately 900,000 square feet within the jurisdictional limits
of the Town consistent with state law, the Oro Valley Town Code, and applicable Town
policies.
1. Proposed Uses: This retail center is planned to accommodate a range of differing but
complimentary retail-related land uses on an integrated and master-planned basis.
Typical uses envisioned in the center include destination and major anchor retailers
not otherwise found or clustered in the Town, lifestyle and other retail shops,
restaurants, entertainment facilities, national electronic and other hard goods retailing,
financial institutions and other service businesses, landscaping, and distinctive
common areas (the "Development"). Overall, the Development, which will have a
unique regional draw, will create substantial additional sales tax revenues for the
Town, will assist in the creation or retention of jobs and will otherwise improve or
enhance the economic welfare of the residents of the Town by bringing customers to
the Development from the Town and surrounding communities. Attached hereto as
Exhibit B is a conceptual description of the master site plan for the Development.
This master site plan will be updated in accordance with Section 3 below at the time
of the submission of the Phase I plan as described in Section 3 below.
a. For the purposes of this Agreement, the Development will be developed in
phases (the "Phases," Phase," or Phase #"), each of which shall be considered an
independent and separate project and shall be consistent with applicable
development standards. Owner/Developer will designate the specific area to be
included in each Phase prior to the approval by the Town of each Phase as
developed.
b. The Town and Owner/Developer desire to establish certain agreements
regarding the Development pursuant to A.R.S. §9-500.05 and certain
agreements in connection with economic development activities for the
economic benefit of the Town pursuant to A.R.S. §9-500.11 upon and in
accordance with the terms and conditions hereinafter set forth.
U:Vvly Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
2. Community Economic Development Strategy: The Development comports with the
Town's Community Economic Development Incentive Policy Guidelines and is
expected to create a source of significant tax revenue for the Town for many years.
a. The Town has determined that incentives are needed in order to develop the
Property and to induce businesses to locate their operations in the Development.
The incentives for each Phase shall not continue for more than fifteen (15) years
as more fully set forth below.
b. The Development will have a substantial positive economic impact on the Town
because it is expected to provide diverse commercial and retail service
opportunities consistent with the businesses targeted in the Town's Community
Economic Development Strategy (September 1997). The Development is
expected to produce a significant number of new jobs and generate substantial
sales tax revenues as well as additional economic benefit by reason of the
facilities to be constructed as part of the Development. Consequently, the long-
term benefits of the Development will offset and significantly outweigh the
costs of the incentives.
c. The Development will offer significant intangible benefits to the Town as a
retail lifestyle/entertainment/power center. It will provide retail, service,
lifestyle, and entertainment uses consistent with the surrounding existing uses.
C. The Development is in compliance with the Town's adopted and approved General Plan.
On , 2003, the Town Council adopted Ordinance No. which
approves and authorized the execution and delivery of this Agreement.
D. A.R.S. §9-500.05 authorizes the Town to enter into a development agreement with a
landowner or other person having an interest in real property located within the Town to
facilitate development of the property by providing for, among other things, the conditions,
terms, restrictions, and requirements for development and public infrastructure and the
financing of public infrastructure. Because of its location and typography, the
Development will entail significant atypical additional offsite and site costs requiring
assistance for feasible development.
E. In approving this Agreement, the Town Council has found and determined that certain
activities relating to the Development are economic development activities within the
meaning of A.R.S. §9-500.11, that all expenditures by the Town pursuant to the Agreement
constitute the appropriation and expenditure of public monies for and in connection with
economic development activities and that it is appropriate to provide Owner/Developer
with the benefits in this Agreement as an inducement to cause Owner/Developer to
construct, own, and operate the Development in the Town.
F. The Town of Oro Valley has a population of less than 100,000 persons and the provision of
A.R.S. §9-500.6 are inapplicable.
2
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
NOW THEREFORE, in consideration of the mutual promises made herein, the parties agree as
follows:
AGREEMENTS
1. Accuracy of the Recitals: The parties hereby acknowledge and confirm the accuracy of the
Recitals, which are incorporated herein by this reference.
2. Effective Date: This Agreement shall be effective upon adoption and effective date of
Town Ordinance No. and the execution of this Agreement by both parties
and as provided by law.
3. Submission of Development Plan: As a condition precedent to the rights of
Owner/Developer to share with the Town the site-specific sales tax revenues generated
from the first and successive Phases of this Development in accordance with the provisions
of Paragraph 8 of this Agreement ("Revenue Sharing") and the obligation of the Town to
provide such Revenue Sharing, the Owner/Developer shall prepare and submit to the Town
within twelve (12) months of the Effective Date of this Agreement a development plan
(consistent with the Town's applicable existing standards) for Phase 1 of the Development
(the "Phase 1 Plan") presently estimated to be approximately 300,000 square feet. The
Town will, within the ensuing six (6) months, review and pursue final approvals of the
Phase 1 Plan by the Town Council. Thereafter, the parties will diligently cooperate to
process plans and specifications for necessary building permits for the approved Phase I
plan. At the time that Owner/Developer submits the Phase I Plan, it shall also submit an
updated revised conceptual master site plan for the entire Development. The parties agree
that time is of the essence in the preparation, submittal, review and, if appropriate, approval
of the Phase 1 Plan.
4. Designation of Phase Areas: Owner/Developer shall by right designate up to five (5)
Phases, which Phases shall not total in excess of 900,000 square feet of rentable
commercial space unless otherwise approved by the Town. Owner/Developer shall
designate each Phase area when Owner/Developer submits a development plan for each
Phase for the Town's review and approval.
5. Development: The Development shall be developed and constructed in accordance with
the Town ordinances and development standards in effect at the time of the execution of
this Agreement. In that regard, the Town shall not apply any hereinafter enacted
development or impact fees to development on the Property and shall not apply to the
Development any so-called Large Retail User or Big Box Ordinances (i.e., ordinances
which imposes special limitations or restrictions on the development of single user retail
facilities in excess of a certain size limitation [such as 100,000 square feet or more of retail
space] for retail facilities on the Property).
6. Cooperation: To further the commitment of the parties to cooperate in the implementation
of this Agreement, the Town and Owner/Developer each shall designate and appoint a
3
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
representative to act as liaison between the Town and its various departments and
Owner/Developer. The representatives shall be available at all reasonable times to discuss
and review the performance of the parties to this Agreement. The initiation representatives
of the parties are:
Town: Town Manager or his Designee
Owner/Developer: David J. Larcher or his Designee
7. Fast Track: The Town shall, consistent with its adopted policies, provide to
Owner/Developer of the Development priority in the processing, review and, if appropriate,
approval of all plans, permits, and other applications and all shall be processed in an
expeditious and priority fashion in order to ensure "fast track" treatment of the
Development. If requested by Owner/Developer, the Town will dedicate an on-site
inspector to expeditiously review and, if appropriate, approve or coordinate the review and
approval of all construction and building approvals required in connection with the
Development. If fast track treatment in the form of extra personnel is requested by
Owner/Developer, all costs associates with such extra personnel, including without
limitation, the dedication of an on-site inspector, shall be borne by Owner/Developer.
Further, to facilitate the foregoing, the parties agree that if at any time the
Owner/Developer believes an impasse has been reached with Town staff (the "Town
Staff') on any issue affecting commercial development on the Property, the
Owner/Developer shall have the right to immediately appeal to the Town Manager for an
expedited decision on such matter. Such decision shall be made by the Town Manager (in
such circumstances where a final decision can be reached by Town Staff) within seven (7)
days after the Owner/Developer's request for an expedited decision. If the issue on which
an impasse has been reached is one where a final decision requires action by the Town
Council, the Town Manager shall schedule a Town Council hearing on the issue to take
place within thirty (30) days after Owner/Developer's request for an expedited decision;
provided, however, that if the issue must first be reviewed by the Town's Planning and
Zoning Commission, the matter shall be submitted to the Commission within thirty (30)
days and then to the Town Council at the first meeting following the Planning Commission
hearing.
8. Revenue Sharing:
A. Sales Tax Revenue Sharing: The Town agrees to share with Owner/Developer a
portion of the sales tax revenue generated by each Phase of the Development as
provided in Article 4 of the Oro Valley Tax Code, but not including any construction
sales tax revenue. The present sales tax rate in effect is two percent (2%). The Town
shall retain thirty percent (30%) of the Town's sales tax revenue generated by each
Phase of the Development from the Town's sales tax during the five (5)-year period
(the "Initial Sharing Period") commencing on the first day of the month following
issuance of certificates of occupancy for a majority of the rentable space for the
applicable approved Phase. Owner/Developer shall receive the remaining seventy
percent (70%) of the Town's sales tax revenue generated by each Phase during the
Initial Sharing Period for such Phase from the Town's sales tax. During the five (5)-
4
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
year period following the expiration of the Initial Sharing Period for the applicable
Phase (the "Middle Sharing Period"), the Town shall retain fifty percent (50%) of the
Town's sales tax revenue generated by such Phase of the Development from the
Town's sales tax, and Owner/Developer shall receive the remaining fifty percent
(50%) of the Town's sales tax revenue generated by such Phase of the Development
from the Town's sales tax. During the five (5)-year period following expiration of the
Middle Sharing Period (the "Final Sharing Period"), the Town shall retain seventy
percent (70%) of the Town's sales tax revenue generated by such Phase of the
Development from the Town's sales tax, and the Owner/Developer shall receive the
remaining thirty percent (30%) of the Town's Sales Tax revenue generated by such
Phase of the Development from the Town's Sales Tax. Accordingly, the blended
percentages as between the Town and the Owner/Developer over the term of the
sharing period equal 50% of the Town's sales tax revenues. In order to incentivize
the prompt development of subsequent Phases, the fifteen (15)-year tax revenue
sharing period shall commence no later than two (2) years following the issuance of
certificates of occupancy for a majority of the rentable space from the prior approved
Phase. If the sales tax rate decreases below the current 2% rate, Owner/Developer
shall nonetheless receive payment hereunder as if the tax rate were at the 2% level.
B. Revenue Sharing Procedures: Revenue Sharing as provided in this Paragraph 8 will
be based on documentation that indicates proof of taxes remitted to the Arizona
Department of Revenue ("ADOR") from or upon each Phase of the Development, as
reasonably determined by the Town's Finance Director. The Town shall pay sums
payable to Owner/Developer hereunder within sixty(60) days after the quarterly sales
tax revenues generated from each Phase of the Development have been determined
provided, however, that the Town shall have received payment from the ADOR. In
the event the sales tax due from any Phase of the Development is adjusted due to
error, overpayment, underpayment, or miscalculation, Town and Owner/Developer
each agree to remit to the other any amounts necessary so that Owner/Developer and
Town each receive their proportionate share of the sales tax revenue ultimately
determined to be due for the applicable period.
C. Maximum Cumulative Revenue Sharing: Under no circumstances shall
Owner/Developer be entitled to share sales tax revenues, the total of which, for each
Phase, exceeds the lower of the following amounts:
i. The cost of that Phase; or
ii. The percentages described in paragraph 8.A.
D. Rebate — Not a Pledge: This Agreement creates rights and obligations regarding the
payment of money, but nothing contained herein shall constitute a pledge of tax
revenues. Nothing contained in this Agreement shall impair or restrict the right of the
Town to pledge sales tax revenue from the Development.
5
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
9. Signage: The parties acknowledge that Owner/Developer will submit a sign package as
part of the approval process for Development. The parties agree that signage on the
Project, including tenant signage, will be of the general nature, quality, magnitude, and
color palette of the Desert Ridge project located in Phoenix, Arizona. Developer will
submit and the Town will approve signage consistent with the foregoing and Town agrees
to modify its development standards as may be necessary to accommodate the foregoing
and as may be necessary to conform with a particular retail user's distinctive building and
site identify and attributes.
10. In the event that the Town adopts a property tax for real property within the jurisdictional
limits of the Town, the Property constituting the Development will be exempt from such
tax for the duration of the period of any sales tax revenue sharing pursuant to this
Agreement.
11. General Provisions:
A. Headings and Recitals: The descriptive headings of the sections of this Agreement
are inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof. The Recitals set forth at the beginning
of this Agreement are hereby acknowledged and incorporated herein and the parties
hereby confirm the accuracy thereof.
B. Exhibits: Any exhibit attached to this Agreement shall be deemed to have been
incorporated in this Agreement by this reference with the same force and effect as if it
were fully set forth in the body of the Agreement.
C. Entire Agreement: This Agreement and the attached exhibits constitute the entire
agreement between the parties pertaining to the subject matter of the Agreement. All
prior and contemporaneous agreements, representations, and understandings of the
parties, oral or written, are superseded and merged in this Agreement.
D. Further Acts: Each of the parties to this Agreement shall promptly and expeditiously
execute and deliver all of such documents and perform all of such acts as reasonably
necessary, from time to time, to carry out the matters contemplated by this
Agreement.
E. Recordation: The parties agree to cause an original counterpart of this Agreement to
be recorded in the Real Estate Records of the Office of the Recorder of Pima County,
Arizona, within ten (10) days of the full and complete execution and delivery of this
Agreement by all parties.
F. Amendments: No change or addition is to be made to this Agreement except by a
written amendment executed by the Town and Owner/Developer. Within ten (10
days after any amendment to this Agreement, such amendment shall be recorded in
the Official Records of Pima County, Arizona.
6
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
G. Governing Law; Cancellation Pursuant to A.R.S. §38-511: This Agreement is
entered into in Arizona and shall be construed and interpreted under the laws of
Arizona. In particular, this Agreement is subject to the provision of A.R.S. §38-511.
Under A.R.S. §38-511, as amended, the Town may cancel any contract it is a party to
within three (3) years after its execution without penalty or further obligation if any
person significantly involved initiating, negotiating, securing, drafting, or creating the
contract on behalf of the Town is, at any time while the contract or any extension
thereof is in effect, an employee or agent of any other party to the contract in any
capacity or a consultant to any other party to the contract with respect to the subject
nature of the contract. In the event the Town elects to exercise its rights under
A.R.S. §38-511, as amended, the Town agrees to immediately give notice thereof to
Ovvn er/Developer.
H. Notices: All notices given pursuant to this Agreement shall be given in person or by
first class, pre-paid certified mail (return receipt requested) to the following persons
or any other persons a party may designate in writing:
To the Town: To the Owner/Developer:
Town of Oro Valley Vestar Arizona XXXIX, L.L.C.
11000 N. La Canada Drive 2425 E. Camelback Rd, Suite 750
Oro Valley, AZ 85737 Phoenix, AZ 85016
Attn: Town Manager Attn: David J. Larcher
cc: Town of Oro Valley cc: Vestar Arizona XXXIX, L.L.C.
11000 N. La Canada Dr. 2425 E. Camelback Rd, Suite 750
Oro Valley, AZ 85701 Phoenix, AZ 85016
Attn: Mark Langlitz, Esq. Attn: Allan J. Kasen, Esq.
Town Attorney
1. Litigation: Nothing herein shall preclude non-binding arbitration if the parties so
elect in the event of a dispute hereunder.
J. Successors and Assigns: This Agreement shall inure to the benefit of and be binding
upon the successors and assigns of each of the parties to this Agreement pursuant to
A.R.S. §9-500.05(D). Owner/Developer shall retain the right to receive its share of
the Town's sales tax revenue generated by each Phase of the Development from the
Town's 2% sales tax as provide by Paragraph 8 of this Agreement regardless of the
status of title or ownership of any or all of the Property unless Owner/Developer
expressly assigns such rights as provided herein. No assignment, however, shall
relieve either party of its obligations hereunder, except that an assignment by
Owner/Developer in connection with the transfer of title to the Property shall relieve
Owner/Developer of its obligations hereunder provided such transferee agrees to be
fully bound by the provisions hereof. Any assignment by Owner/Developer shall be
subject to the approval of the Town, which shall not be unreasonably withheld or
delayed. Notwithstanding the foregoing, Owner/Developer may assign this
Agreement to any Affiliate of Owner/Developer or any entity in which
7
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
1
t 4
•
Owner/Developer or an Affiliate of Owner/Developer is a managing member or
managing partner. As used herein, the term "Affiliate" means any entity under
common control with Owner/Developer. Further, notwithstanding the fact that this
Agreement is being recorded in the Official Records of Pima County, it is intended
that this Agreement shall not be an encumbrance upon the title of any person
purchasing or owning a portion of the Property, and that the terms and conditions of
the Agreement are not covenants running with the land and that no person is bound
by (or entitled to) the burdens and benefits of this Agreement unless such burdens are
expressly assumed or such benefits are expressly assigned by such person.
K. Force Majeure: Notwithstanding any other term, condition, or provision hereof to the
contrary, in the event any party hereto is precluded from satisfying or fulfilling any
duty or obligation imposed upon such party by the terms hereof due to labor strikes,
material shortages, war, civil disturbances, weather conditions, natural disasters, acts
of God, or other events beyond the control of such party, the time period provided
herein for the performance by such party of such duty or obligation shall be extended
for a period equal to the delay occasioned by such events.
L. Severability: If any provision of this Agreement is held to be illegal, invalid, or
unenforceable, in whole or in part, under present or future laws, such provisions shall
be fully severable and this Agreement shall be construed and enforced as if such
illegal, invalid, or unenforceable provision had never comprised a part of this
Agreement and the remaining provisions of this Agreement shall remain in full force
and effect and shall not be affected by the illegal, invalid, or unenforceable provision
or by the severance of such provision from this Agreement. Furthermore, in lieu of
such illegal, invalid, or unenforceable provision, there shall be added automatically as
part of this Agreement, a provision as similar in terms to such illegal, invalid, or
unenforceable provisions as may be possible and still be legal, valid, and enforceable
and this Agreement shall be deemed reformed accordingly. Without limiting the
generality of the foregoing, if all or any portion of the payments required by the terms
of this Agreement are determined, by a court of competent jurisdiction in a final non-
appealable judgment, to be contrary to public policy or otherwise precluded, the
parties shall utilize their reasonable, best efforts to promptly restructure and/or amend
this Agreement, or to enter into a new agreement to afford the Owner/Developer the
economic benefits of this Agreement in light of the benefits to the Town.
M. Time is of the Essence: Time is of the essence in the performance of each and every
obligation by the Town and Owner/Developer as provided for herein.
N. Lender Provisions: The Town is aware that financing for development, construction,
and operation of the Development may be provided, in whole or in part, from time to
time, by one or more third parties (collectively, "Lender"), which Lender may request
a collateral assignment of this Agreement as part of its collateral for its loan to
Owner/Developer. The Town agrees that such collateral assignments are permissible
without consent of the Town. In the event of default by Owner/Developer, the Town
shall provide notice of such default at the same time notice is provided to
8
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
Owner/Developer to any Lender previously identified in writing to the Town. If a
Lender is permitted, under the terms of its agreement with Owner/Developer to cure
the default andlor to assume Owner/Developer's position with respect to this
Agreement, the Town agrees to recognize the rights of Lender and to otherwise
permit Lender to assume such rights and obligations of Owner/Developer under this
Agreement. Nothing contained in this Agreement shall be deemed to prohibit,
restrict, or limit in any way the right of a Lender to take title to all or any portion of
the Property, pursuant to a foreclosure proceeding, trustee's sale, or deed in lieu of
foreclosure. The Town shall, at any time upon request by Owner/Developer or
Lender, provide to any Lender an estoppel certificate, acknowledgement of collateral
assignment, or other document evidencing that this Agreement is in full force and
effect, that it has not been amended or modified (or, if appropriate, specifying such
amendment or modification), and that no default by Owner/Developer exists
hereunder (or, if appropriate, specifying the nature and duration of any existing
default) and certifying to such other matters reasonably requested by
Owner/Developer or Lender. Upon request by a Lender, the Town will enter into a
separate assumption or similar agreement with such Lender consistent with the
provisions of this Paragraph.
O. Town Representations: The Town represents and warrants to Owner/Developer that:
i. Town has the full right, power, and authorization to enter into and perform this
Agreement and each of Town's obligation and undertakings under this
Agreement, and Town's execution, delivery, and performance of this Agreement
have been duly authorized and agreed to in compliance with the requirements of
the Oro Valley Town Charter and the Town of Oro Valley Code.
ii. All consents and approvals necessary to the execution, delivery, and
performance of this Agreement have been obtained, and no further action needs
to be taken in connection with such execution and delivery.
iii. The Town will execute all documents and take all actions necessary to
implement, evidence, and enforce this Agreement.
iv. This Agreement (and each undertaking of the Town contained herein),
constitutes a valid, binding, and enforceable obligation of Town, enforceable
according to its terms, except to the extent limited by bankruptcy, insolvency,
and other laws of general equity.
v. The Town shall defend any action brought to contest the validity of this
Agreement (except for items for which Owner/Developer is responsible under
Section 10.P.iv below) and shall not seek from Owner/Developer any
contributions, payments, costs, or attorneys' fees incurred in such defense.
9
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
} t
Y , 1 '
vi. The execution, delivery, and performance of this Agreement by Town is not
prohibited by, and does not conflict with, any other agreements, laws,
instruments, or judgments to which Town is a party or is otherwise subject.
vii. The Town has been assisted by counsel of its own choosing and has been fully
apprised of all risks associated with the transaction contemplated in this
Agreement.
P. Owner/Developer Representations: The Owner/Developer represents and warrants to
Town that:
i. Owner/Developer has the full right, power, and authorization to enter into and
perform this Agreement, and the Owner/Developer's execution, delivery, and
performance of this Agreement have been duly authorized and agreed to in
accordance with the organizational documents of the Owner/Developer.
ii. All consents and approvals necessary to the execution and delivery of this
Agreement have been obtained, and no further action needs to be taken in
connection with such execution and delivery.
iii. The Owner/Developer will execute all documents and take all actions necessary
to implement, evidence, and enforce this Agreement.
iv. Owner/Developer shall defend any action brought to contest the validity of this
Agreement arising from Owner/Developer's violation of the foregoing
representations and shall not seek from the Town any contribution, payments,
costs, or attorneys' fees incurred in such defense.
v. The execution, delivery, and performance of this Agreement by
Owner/Developer does not conflict with, any other agreements, instruments,
judgments, or decrees to which Owner/Developer is a party or is otherwise
subject.
vi. Owner/Developer has not paid or given, and will not pay or give, any third party
any money or other consideration for obtaining this Agreement other than
normal costs of conducting business and costs of professional services such as
the services of architects, engineers, and attorneys.
vii. The Owner/Developer has been assisted by counsel of its own choosing and has
been fully apprised of all risks associated with the transaction contemplated by
this Agreement.
Q. Compliance Confirmation. When requested by either Town or Owner/Developer,
which request can be made from time to time, the other shall confirm the following in
writing to the requesting party as soon as practicable of the request, but in no event
later than fifteen (15) days from the date of the request:
10
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
i. This Agreement is unmodified and in full force and effect (or reasons why it is
not).
ii. Based upon knowledge, there are not any uncured Defaults under this
Agreement (or reasons why there are).
iii. Such other matters as the requesting party shall reasonably request.
R. Consents: Except where any matter is expressly stated to be in the sole discretion of
the party, in performance of this Agreement or in considering any requested extension
of time, the parties agree that each will act in good faith and will not act
unreasonably, arbitrarily, capriciously, or unreasonably withhold any approval or
consent required by this Agreement.
S. Counterparts: This Agreement may be executed in counterpart originals.
IN WITNESS WHEREOF, the parties hereto have caused to be executed, the day and year
herein written.
(Signatures on next page)
11
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
TOWN
TOWN OF ORO VALLEY,
an Arizona municipal corporation
By:
Name: Paul H. Loomis
Title: Mayor
ATTEST:
By:
Kathryn E. Cuvelier, Town Clerk
Dated:
APPROVED AS TO FORM:
By:
Mark Langlitz, Town Attorney
Date:
OWNER/DEVELOPER
VESTAR ARIZONA XXXIX, L.L.C.,
an Arizona limited liability company
By:
Name:
Title:
12
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
STATE OF ARIZONA )
) ss.
County of Pima )
The foregoing instrument was acknowledged before me this day of
2003,by , as of the Town of Oro Valley.
Notary Public
My Commission Expires:
STATE OF ARIZONA )
) ss.
County of Maricopa )
The foregoing instrument was acknowledged before me this day of
2003, by , as Manager of Vestar Arizona XXXIX, L.L.C., an Arizona
limited liability company.
Notary Public
My Commission Expires:
13
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
January 16,2004
EXHIBIT A
LEGAL
DESCRIPTION OF THE PROPERTY
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
EXHIBIT B
CONCEPTUAL MASTER SITE PLAN APPROVALS
U:\My Documents\Economic Development Agreements\Oro Valley Marketplace\VESTAR DEVELOPMENT AGREEMENT Latest Draft
Oro Valley Marketplace Attachment 3Page 1 of 2
Retail Development
Economic Development Agreement
Development Details
Land Land/Building Cost Per Construction
Acreage Square Feet Sq.Ft. Value
Phase 1
47.36 2,063,002 $ 1.13 $ 2,340,000
Buildings/Pad's: Major G/H 205,000 $ 45.00 $ 9,225,000
I 33,000 $ 55.00 $ 1,815,000
Major55.00 1,375,000
Major 3 25,000 $
�
Major A
10,000 $ 65.00 $ 650,000
Pad
K 6,000 $ 50.00 a. $ 300,000
Pad
L 5,000 $ 50.00 a. $ 250,000
Pad
N 5,000 $ 50.00 a. $ 250,000
Pad
0 5,000 $ 50.00 a. $ 250,000
Pad
P 5,000 $ 50.00 a. $ 250,000
299,000 $ 14,365,000
Off-Site Improvemenis 2,063,002 $ 0.83 $ 1,713,816
2,063,002 $ 5.30 $ 10,932,354
On-Site Improvements $ 75,000
Misc. Site work $ 12,721,170
Other Costs/Allowances $ 7,824,193
Phase i Total Costs $ 37,250,363
Phase 2
13.8 601,128 $ 1.13 $ 680,000
Buildings/Pad's: Major ? 86,500 $ 50.00 $ 4,325,000
Shops ? 10,000 $ 65.00 $ 650,000
Pad ? 6,000 $ 50.00 a. $ 300,000
Pad ? 5,000 $ 50.00 a. $ 250,000
Pad ? 8,000 $ 50.00 a. $ 400,000
115,500 $ 5,925,000
Off-Site Improvements 601,128 $ 0.75 $ 450,846
601,128 $ 4.50 $ 2,705,076
On Site Improvements $ 75,000
Misc. Site work $ 3,230,922
Other Costs/Allowances $ 4,010,292
Phase 2 Total Costs $ 13,846,214
EDA SUMMARY DATA Preliminary Construction Cost 1/20/2004
Oro Valley Marketplace Attachment 3
Retail Development Page 2 of 2
Economic Development Agreement
Development Details
Land Land/Building Cost Per
Acreage Square Feet Sq.Ft. Value
Phase 3 21 914,760 $ 2.22 $ 2,035,000
Buildings/Pad's: Theatre ? 60,000 $100.00 $ 6,000,000
Shops ? 12,000 $ 65.00 $ 780,000
Shops ? 10,000 $ 65.00 $ 650,000
Shops ? 65,000 $ 75.00 $ 4,875,000
Pad ? 6,000 $ 50.00 a. $ 300,000
Pad ? 5,000 $ 50.00 a. $ 250,000
Pad ? 8,000 $ 50.00 a. $ 400,000
Pad ? 8,001 $ 50.00 a. $ 400,050
Pad ? 8,002 $ 50.00 a. $ 400,100
182,003 $ 14,055,150
Off-Site Improvements 914,760 $ 0.75 $ 686,070
On-Site Improvements 914,760 $ 3.50 $ 3,201,660
Misc. Site work $ 75,000
$ 3,962,730
Other Costs/Allowances $ 7,788,837
Phase 3 Total Costs $ 27,841,717
Phase 4 17.38 757,073 $ 1.48 $ 1,120,000
Buildings/Pad's: Major ? 24,000 $ 50.00 $ 1,200,000
Major ? 25,000 $ 50.00 $ 1,250,000
Major ? 18,000 $ 50.00 $ 900,000
Major ? 25,000 $ 50.00 $ 1,250,000
Major ? 8,000 $ 50.00 $ 400,000
Shops ? 19,000 $ 65.00 $ 1,235,000
Shops ? 30,000 $ 65.00 $ 1,950,000
Pad ? 6,000 $ 50.00 a. $ 300,000
Pad ? 5,000 $ 50.00 a. $ 250,000
160,000 $ 8,735,000
Off-Site Improvements 757,073 $ 0.75 $ 567,805
On-Site Improvements 757,073 $ 3.50 $ 2,649,756
Misc. Site work $ 75,000
$ 3,292,560
Other Costs/Allowances $ 5,832,027
Phase 4 Total Costs $ 18,979,587
Total Investment $ 97,917,881
EDA SUMMARY DATA Preliminary Construction Cost 1/20/2004
0
M Lo O
O
N
O
N
.-i O M t0 00 tD et O 01 C1 O O M M (7% 0 00 in CO *♦ M
4. CO Mt0t0t0 N 01 N .-1 .4M rltONet rlt0M 0 et COO
=w CO e!' O to 0) et M f\ .-1 01 N N M N O LA LA t0 t0 t0 CO LA
EJ l' I. t0MMN et N -1
. •-40M Niris Ntri- mi'vii 00 O et e
s 4 ri CO LA et 00 et M CO M et M O .-I 01 N r4 et C1 rt rl M
u 1- O OtoOto 0 N LA ettOt0 .-4NrILA etNet 40 N 011
A 0 f' 01 - NN CO O rItD000 LAMal'N t0M .-1 M M N
r 1-- 01 N N M M N tD N N m N ,Irl M 4.4N t0 !O 01
Q OMLAO► N •4
.-1.4.4'M .. M
411- if)-4A- AA- iA- if)- AA--VI VI- if-AN VI- AN AFF iilr 4401- if-
0
0 0 0 0 0 0 0 42
O
� LAMet 0008N
el LA
rl
N N N In CO ' co N et et 0 N N tO O et N CO ' 0 0 N O
CO 0001N01 01 00MLAN 01.001N Nt0LA 0 N COO
LA 0 40 N et et LA N t0 01 01 CO N Ln t0 00 CO et 01 in O
01 01 t0 N 00 CO M M N eir t0 f:i.et et 00 N N 01 M 01 O
LU N N 00 M C1. 01 01 000 CO et LA .-I .-4 et LA 40 1,0 CO N 10
Q01 N N .-1 .-i .-4 et L!) M M .t fN 01 00 MN et in m 01 '4
< co et LA 01 01 01 tt LA t0 tD M N .-i f rl N 'P CO .0 .CO
.44
a N N M 00 CO
401• iii-in-VI-iA- ift APF ift ifF AN A& ifF 4OF 4A-409- i 40V ifF APF 4OF ifF
0 0 0 0 0 0 0 0
O
N MMtAON CT
Inet ° Inn
N N et N N et 40 t0 01 M 0 01 C1 tD et N 471 0 00 et 01 N M
rI 471 et 10 O N N LA 01 00 et N et CO rl N et O LA CO, 01 •♦ 0
N N 01 N 0 01 01 N et N O et N LA CO N N N M LA M N O
rl N et T' N N G1 01 LA M O to N 00 t0 M N t0 N LA N .♦ N
Lii et t0 N t0 O r4 •-4 N t0 01 et O1 M et N CO M et N CO 10 e' CO
in "i Co 01NNO • •-4 NetetN )CNN .-4 MNNMM M 00r1
N
= Mr t0 CO Li-t01:01 MMN01 .-IMLAMr N N
0. N N M M 01 rl .-1
N
CD
API- 4OF ifs ioR OF ifs if)- ifs if}ifs ifs if}ifs OF ifs ifs ifs if)-iH- if} iR
CD
>
O 0 0 0 0 0 0 C o w
CL
N IAAMM MLin 0 LAAtNO� '0 C
co
et M01MLA et C1 LA etN .•I NN000 etNN01N rl et
.-I 0 O O N LA N et M M .-1 .1 tD .-1 00 M t0 N in co N •-1 D CO
(NI N f\ MD M 01 LA et N O N O M 00 rl et M N et et t0 N in x
N Mi. Nt0 .-10 N M r1ett6N O1NiAN NNOen'M LA tOLA
W et N M 0 ••I N CO et r1 CO et O O 1.0 CO M O N 0 N 0 et ri
Q 00 ONMri .-1 N etN00in et •♦ et421 O •♦ etetO 0 COrr
M NON M O el'etetN NN .-1M rlNMetN r
=
0- N N t0 N CO00
APF APV OF ifF APV OF APF if}if)- if}ift if- APF APV 4OF ifFifF APV ifF
0 0 0 0 0 C 0 c o
O
al
^ tinmM Mit) N � 0
M 00 CO t0 N CO 0 t0 N O 00 N tD N O et Co 00 r1 01 01 M O
0 C1r1N01 et et et ineti .-4N00N MNtAN.. M 0 t00
M N to 0 00 to et et •.I C1 in 00 to O et ID LA 00 O •♦ 4.0 M O
0 NN 0t0 M O LALir virr LnNMrI 01NMin .4N O01
LU LA NLAetN LA M 10etNCO LANt0et ON .-INN 0 MO
to N NNCOM N .-4 MNOoet COv-1Lnin in .4MNN N NN
Q f\ CONMTi" CO M COO '-O LALriMet 1 Li'fir‘01.-Pr
V m
= M 1-4 C1 N M t0 1-1 rl M 1.4
Q. et LA in LA CO m
.-i N
in- OF if}if?-OF ifF ifF APV ifF if)- in-iA-if} in-ifF if)-if-OF if)- if-
C N N
E .. Ig i
in
VI in
11)
O W .O ii ct W - r ix 1fD W
O1 Z r4 t0 rl W = W W 0 0 > Q
Q > in in in in re >. N d I- a
d 4' W rtIY W ri = to LA LU iA O in CL 0 4
• C LV in O .-i 0 •-1
f�0 d .O W W W e ~ --.I W LA rl s i t1') ri . LA .-1 ' ♦ x 0 0
in in Q n i . ri . i .-i . I .4 t0 10 -.a C E + Q W O U. LVni .4 O rl •4 tD rl r1 tD ri .-1 F- W re
0▪ 0 0 E Q Q W W W to Q J W to to to .4 0 to = to In In VI
In In 3 Q D Q 4
Y n, d i- 0 in » > J to Q W OCWOC sicCcC t: QQ O 0 z4 2
IC 0 > w°. F. O Zzza J 1- QQQ Q > 444 3QQ F- Z 00,
W W W I d LU LN W O W W LL W
>-1150 ►C W H >> > 0 Z 1 X > >- > to 0 >- >- >• 1•- ?- >- >- >- Z u. u)
u in W LU W 1- 4 V)
• 0 •- 100 Q fY4
HF-
O• O E to W W W W 11-1 LN U W W
O 0 0 E > W J J J 0 --'I W Z
�'1. W 0 4
O OC Lu to Z IL to in iA 4 to oC I.
in IIIIIIIMMIIIMIIIIIIMIMIIIIMIIMMIIIIIMMIIIMIIIIIMMIIMIIIIIIIIIMIIIIIIIMIIIMIMIIIINIIMI
O
ra:,
0
N 1711/1
O N
co M
01
in
c0 i
CI
0
W `�
p cri
ol
co
Z .:t
171
I
O
LLI N
> (i) N
O ■
LL1 a� u,
ce =
c re)
LA
Z a) in
M
Tr
LJN
O a)I- E N
r4 co
Z c ,..r". i N
o CO
I E 0
LLI ONN
O u)W
a
J c
a)
0_ >
H a)
Wr'
X M gCe CON
H a'
QN
2 CD
M
>11 Ci) to
W • in
J N ■._
IO
J in i
> OD
M LA
'
t0-a 4 O
N
0
C) o 0 CO 0 0 0 0
0 0 0 0 0 0 0 0
CO 0 0 0 0 0 o a
F F F F F F F F te
0 0 0 0 0 0 CD 0
0 0 0 0 0 0 0 0
0 0 0 0 Co 0 0 0
F F F F F F F F
Co N. C0 LC) V' M N T
tt fa te (a Eft fd, fa f-
INF _. OTIAIG A
ti.[Aid vis,3 A
0 Co
iivA - 1
0 sti 0
_ „ 3 . •
VNOzillv A
V A —
3 1 I
,fel v W A
1 3 A --
w i d —
,..... ,
3 ) v
tli
,
I-418°N
NY1d 311S 1Vid3v
:17::::4-1',,,4';'.,,;-,„,:*, il,. 1 ... --,.:_„t'1**-4".***"''.';',***1..."-•:'
”,,,_ ,,,,,,,,-;•,14-`crir,.'"*T*.*:,...;;',...,:,,,,,,;,:,,':.,..ii,i,,-',„:,.;--:"..„,:i:'3,:t. - -.:,,4,-,,,,,,,,,,,..y.:„..: ' ...,..:,:,...;:.'4'...,;?-4..- .....::*
...,?,._
..,...,,.,,i.i:'_i.„d-..i,;.„0e....:,t,,.,.:.",„.,..z.7..,,„,...,,,.,,,.,i,,..a,-,.,,.,,.*::.,:-.:,‘.,,,.-...,.„,..:,!,?.;..-,.....;,',,----:4,,.—..,;,.,,4.2''•:-•,-4.,.-.--..:-„-.,.,.:,.i„i,,.i„-,,J,,,.:..."..,,,-''.-',7';-,,,-:,,4,,,'",,,.,';.:,,,,,,'.:,,..,._,:or.,.*.','','' t „,',-',-,..,J-,.,--„-I;,..,',.,.,..,',,4„„r,-,-:„-7„1„,,-47,,4-''.-'„t:.\..--,.,..—,,1.7'.-,.-;,.,''---4_',.:*..-,.„.','.,,A.,;,''”*,.'1....:T.,-,„:...„,,.t,,.t.,!,,'.:,4,.,v',:‘*;-:.-,i::i".'''.,':...2'N.'.'0,.;..,*0,,A.,,.•,._-'.,,;,,';'4,...--:,-:4'-,4'4,:,.',',',',''.'*,*,.',..).,-4':'-4..1.--,.,,..6..r,..,7'11.,'..,7-':-„.,;o'.*-...:'r*.:.,i.,.—,j,.;.e,.1*'A*-.:,',i..:-_..t,-,.,.,•,„il‘'„,,'1;'.‘S,.',-.,.'I-f,,,rt.4,','',,,•th,''1..*1-:,'1,,,.,.I,-.,,;:..4,,:„-,,4..4,-...g7-.'..,:':-,.44.1...,,..,'4-4,..•.-'.-.„-:,,,-,.‘-‘1''1.,,.'.t,-„..*„1,..1„..'i'.••,,•..:L;:';i,.4or-_1,:,i,';,l._..,sy,,.es,":•'..-.-.s..*.%.,,.:',.-,:,,4.'..--'11.-''.„.c".4_)f„..,(,61a,;_;.;_sI,:'..,_',_„')---l1Y_,.'—.!,,,.,,.e,.',,-"1''.''..-”.,!,A--A-..'....4'..'.'
.7—
,,
,
. , , '.:, Er-uksz-7,)ri-.;,,,,:. '.,4„,' -- -'--,:-.7.:, ., ., -rief,6„....,-,...,„.,,,,t,„.8,-,--,,,,,../4 ---4,411;,,,.•r., ,
.....,.,,,;— ..„.,
-',,-'''''';',f-'''' ....' ' ; .1r-r''' '' itt,„# &,,,,,,';'"ii,,,,' -' -'''' ,i,‹..4*'-”, - ' kitillAr' it, - -''' -'44.,''''•-----'- — '
'• , -, . , ' ' :,,,t — 4,.....,* \‘,4, '74,,,,,,,,,,,,„,,,,,,,,,,,,'-X:-.1 ',, ' _:,,,...... „.,,,,,...., . ,, ',..,,,,' ,, i,,,,L. ,„:,.;, A
, -, — _ , (.-: -.. ...,,,,...„...---,• ,,,, .' ,,c,-..--,:7,,,:,...--,,,,,c,,,-,,,,,,i4 z t t -,,,,,- ...r11.--- - , . di,41-...,,,,,:c. • ' — , - -' '----
, .. ,..„-- -. , , .,. ,,,• ,,,,,,,,,,..„„,„,,,!it,;,,,,5-:','",t-'7''',,,?,::, 8.„ 1, • -i;\.:-:,* * :.-:„..,,,,,,,,., L., ' '',4,„ _.
.,ittbiliir
r- -Ng" ';''''''''.:,'''' 'le,,z, '''',,.. i:;*: .'s;:...:„.:74—rli --..7;;'":'. .•,:„:---,:':'-:IN., --,-Ii-',., it,,,,,:\`',.,',14,!---„,,,,,- .--roif:-;(1, -,:l,'*"4 'S1, , ,,,.- ..
,I-4t.', „,,,
•,..,..._,
, It
1 \
, „„,24 ..,- 7,,,,,,:t'-, ,-
4iair
11-
„,,,, ,,,,,,,,, ,- i„ -. '-...-.4.. -l'i
7.1 -74._:,*-77"!•:% ,',.,•:..,'.., , s,. :'
. - .1. ‘4',-. i'.# ,,',..i,
-44441
1 , . , ., ...„ .4,
''..T. ,,,'41,'Z''' -. .....„y;;;,,,,
,—,,!•. -..- 4 , • ,-;'
4:4'4744:4;. :/1--,g',., '''.; ',;,: : l F' :--'''',.:':-.';...,,,,-.:
- ,, ..:.:., i ,, ; 7,,r-, ---,72' '4,,• i'• ,,;,4:,""b,'!” , -;', -'''' '' ' s'N.,7,1,%'''''''N*: ---.''''''''-''''';;,:',.,•
-‹ . .z.: .„ : • , --, -,
„ ,,,,.. ,,,- r, -.: ,--,-. ....„.....
!,,..'"-. - ',. :411-;;;,1
tt
••:,y.!".,'..7-,' „so-.i.- -,- ,
** „,„..,..:Vf. .
„,,-,,,..::,,,..ff,::, ;;;4. .:,....,., -' : ,,,,,*.,,,, .;.ii,..i.',L,',
-.-,....--.:. ..-,',-• ..-,-.. .....,..., ;-: * ,'''Ilt „,,‘,..‘,, -0,,,,,,i,„'
• ' 4 --**4'1,--7 '”' ,,, ,-..,„„
, • ,.•.. , -li" --0...A , .. , 1
-..:...'7:,,.„!.1'1'7
..„....„,,,, _ ...v.
1
,,..,, ,:p„,,„0 , ,,, ,, , ',,-....0.:
. , • ,
-7,--''.!..' .,ii.....„....v.--#. -2>.„
-0.4.til;z:4111:*;:,Al;,4?4,-
I
4 -
''''''i ilgk'''..''''...-1.41..•-,49'''..e 4,4.,''' ,..*..„.$7,4,....----.
-.„-':-;
, -A-: .-, .:,4, ,,,r,..,,,„,,,,,,. , Atip,Nikii,41311) .., '. . .,...,r. ,,,,,,,.. ,,,,,,,,.• , , , ...
. .
,..,..„ -'
::,.. :. .'
-,%,,-
,,,.„... ,,„e,;e.-:.:4:„..1,,•.,. ..: ,,, _ •, .....r,,. -7:',,_ •.........*14. 'l*:''''•''',t, *;,44110, i.,..,:,_
C
- .,*'''' ' :• '..7.,,".:7rW,,,,,,
'',„, 1 „,l'
''''''' ' ' '''''' ik, 'Itl'''' ' V.-1,k.---'. ,.- • — -' ,•.• ,...,,,,,•,,,--
112 0-''.' .,,,,,,/„,-;.'irt 7.1„,;*, • ":1!'''' ., : ,t
55
v-,,,D,IL---- .4k•; , '. t' ' ''''-'' ' '
.,_,....,,,,,,
•--:. i,,,;tif,-, .. ,: ',. ,* ' ' :'..':1'— '-'''-
.. ,. 7• '' ---. ... , ,4,,,,,,,,*:' %'*,,.',,,,,e ''. ' .,.',,• .
,, - ...______, -,,, - '' ', i :4,.'?,,,,4.;•,,..74,,,..,-*-:*:la,,- ' 'w—
_,-,., ,---, :,•,. -„, -,.7 --: - ' .•-,..„,-,,,,*•,,,.,...i.t.•••;.*,.* -
„. „,,.,,.,,,.-, .•,.,,,,,' ,,,-,',,, ,.,, ' ,,.:r.,7.;:.'•.*.',.i:, - 'f
,: --:-:-._-2L-..-,' , ,,,-,-,:*:,',143:-;i7);',: :: ;'''.: •-•,,:-...:?,:.'. , ,..",;',.'--. '
.i,7*,..7V,,,'
1
,,,. ,„ . ,.
.ti:i i ',°':; -'.)
��"''°" V N O Z 12!V 'A 3 l l V A 0110
,IiItiI�Y1Td0`I�A�Q
p UVZSHA "
3 ) VldlJ >UJYW A3I1VA OJO
OOtiOO L,O
Ma
NM a
i0
HlhION
Err)
NVid 311S d31SVW
(000'1/017'9)
1 II I saaEds 06T`S pap!noJd&uppud'viol,
i :'arc,,., ,
j . j *• sands 890`S pa. nba�IE�oZ
1 "..0 •• : 4:,,, `
7 ;, $ (OO t/000 ZZ I)
-� �:.s 'F&i Ter. A*� ��^+.
s
,I.� sands OZZ`I (sped)pool
(t'/siias 008`Z)
•,' ,i,.--1, saaEds
OOL SJalEa4Zn. ,111111110
+
(OOZ/OOS`6Z9)
sands 8bi`� tla2i
2 , ,,HI. pa nba��ut�red
_.. %SS"8 t OREJOAO31o'I
*Oili
> '` 4, Js OOS`I 18-/+ IE�a.L PFJ
r
ren z I ;' .'` _Ts 000'09-1+
s za��aui,
,, -A JS 000`ZZt-1+ sped
`� r;' Js 000`S9-/+ tTE�a2ItEiaads
'"_.. -*.,,,...."�, JS 000`16-/+ sdo�IS
87 „,-, ,,,,„ „,
+ �; i JS OOS`£Lt-/+ SiofEj
,._,•,,,....„,„ r
flit4r.'7.,...---,,,,. .1)11 ',.w
JS 00�`t�L£`ib-7+
"‹l 's��iu. '
;gi .. �� aE Zfi'OOt-7+ EarV a11S laNI
......., ,
,,,;•�i, ,,„,,,,...........,,:,::—.„..,::.:, ri firiliitif,
/ -, .s . :.:: VIVO ,LYEIfOTd
..
i 14...-::.',....1's...,:'-ifix,„.. i \'1-.7,7:
.... ,„,.,-., ,---,— - - Air, ,.!,,,,,.., ,1100; \\_. -7,:,
6 -4, Yui.. % 7
*1:- - -,-, '7,,,, ,,,;„".'''''t...,A.., \ \ *,,,-
.': ', " . '' .__.' 4,41: ***.1,701r.\
W-4 lisiZ74,. ' 4* }
<,a �.fyb ,ou" ' i .. h .hp1' �.� , S #
ice$ s, i
yis S� =' y,"„
3 S..rr. -''''' X1, ��, ' s
-',.---.--' :-.'''z- ----;‘, ,,-'.:11,,''t...14 4,,,, .'.. i..4,. -"A'4;4,,,
,,,°-,,, , , :,,,;- ,V.,.._ ,r.'";, :, - As,.7 V,,,,,„,
,440t
*''.''' ; '''......1 V%„,,,'....',1*,,,„.' ' 4, ,, , -'.). . .
yy
�y. � �.- t to•
r
Aii.—.4
�_ -4,:,
,n �, M' `, a'�'' .� 4' y{�"'�! may.. •,--.1.
t'f,w1 ,'-
5+ itis=•` f„401. -• �++. •
_be.17.1„1.,/f4‘ ).
Y �N #,.,a'62- -:\_-*>a r'a'y�. vw r____,...,,_,„,..,
yF ,� .M.Va:7 a' '.1Y�
) . I
. .
....,,,A.. ,,,,,.,, ..,, .,,. .--,-- ‘,. ,...-- ,.. g,. „., 2,
`� % ;e ••. a s`_ „¢4.1, .........L.
,► a-r ".'ate 4. t)�h
.,,,,,,,,,,y0-..,:
1+91 N
- �/��w4;�la/a /P
1,i1),,i_t
x
'''',14i'
/,�9ryp /r 4 yiy /
Jam\ tit„,,,i,,,,,,,,,,,,,,,..„,,,,,,;.1!;11/:'''''''''''
' yTyx����r- y, :::',I',;,441',•:',,,,,,,
P/'ti y�f
Wa
y ^ •
.d {/ r ,vp lrt V
4';
,, 'C � r r
- iii .tkitf'q;ik,„I''''
r -4.: : 4'1 '74'.7-''''Iii:','
'}h / y t 4f
z
H
f
✓ i
4 1` f ,,,,,,,c4;,.
(N M�" ` !t r
4�y
F /
%gyp r $��.
•
..
, , ,L ,,,,,„,„,..,,,,.„,,,,„0",,,,/,„
t _ Biui „:, j
,.„
,,,,,,,.,„,„2,.,,......„...."„,„. "
,,,,r fHl y„
,,..„ , ,
;7,
„ ,•,,,,,,,/ ,,,,, ,,,, ,,
,.,...,,,.„.„,„,,,,,f,„:„.:,..,..i,„„.::: ,
_, , ,. , ,
,, ,, , , „...,........"
0
,.._.
/r Gn
l,,,-,- °:
R a $ / �• .,,
,.
,..„,,,,.. ,,,,.
,,.
77
0 / `AI
. III
���+k AXMH ;':'
• ..iiii
9 /$�/�j Hy,
9
,,,,,„,,,,,,,,,,,,,'..:,,i,:•',;?4,',,,,, ; :,1:-:I:4 5:',':„;' t '
0 >
� ,� �9��"/ y� y C
STI '' t �`
[..7..,,,,,iti,,,. '
* ''''.:t ''''''
#r
t e A
y
.- 1 i--\s
/
> >
711 472
,-,,,,-„zi
oz 1,7.1
› —4
-E7
t 9?,,...----iii.„,,,,,,,,k,.„/,!,,,,,,„...,,,,,,,,,„.,,,,,,-.:::st t p ,,,- ":"',0:,;'
:,....„.;,.,„,4,..,,,,..,,-,;:.:4,',,,,,-.'
, 'W
ai^}4,-.:....,,,, b 5 1 / //
VC•
, i .
,I, :: I .._/
,....4.,
',
i:..i, ..,-.,4:.-1.. ..,,,,,,i,:' ,.
ID ... tt., .,......., yt l 4/rf/�:
Nk,,,,
3
< --, -
- „,,„L
y�Ul
,,,,---.-,
.. .. ......„ ,
r .- •
+ '//w , .ham'
-,.
_.
, i. _
, ;;
,--
7....
r l',:' ' -,i
is — 1 ,,,,,,-
-b
1:„.....:i-,-,.„sr n .y
.,:,;.:,:,
: '4,
"g
ii °.. J W...r
T
1:::iii.: i ' ,' '
z
y
w
r H
.fir
Grp
n a ' fa.tl
a s
ey. •
�.. 6 II
{ 'tet
',.-t',..,,:,41t,' .''''' ''''
o dam= b
W 7f1 dy�� �.r ;�
17.;.;:,;,...'' ,',,f..'•;:!‘;'•;',.',. ,,!:::'''. :
r. F�
:0:::111i7
Z /M'/y✓ryy.. t
.
iz �.,
•,
'iV $
ii 111.1.11
Via• �� .�Rn•
3
IQ.
<wls'A
te,
y.� i of K -
- i, :
�� =: 1�.
09 _...
t
ttrfi
}ili
z
"� +i# .. , �� �:4:-41.1:,,,40t*:.,
, - r k
irlr "-*--,,..---4.--.--..-,_:Aim ',,i7 :-,,, i,-..--, 11, .,-
_ y
S
3 v ami
f t t _z '! q
......,
i.. _-- ._- : 4, [
� ;_."' n >~ �•-+err _ p �'
- - ' '' -.---.." .-•'.-:;I':-,•- t'ft-reii.%,7,•: -„-,4r, ,,,„_,,, '
.' 177}117.'2:1 I
T
+ sem 0 - 1 - ' I 7'.`'. ,,iii;,,',- _
! _
(yy
....,..,,.,,,,::::,t: -.....r=' ''
72
..^�} .,./ i ,r,, "�"
x
0
t �,,,t
C _ ;
;r1•� �M lir k ,4 , , ,,- .. pi)
.
•
0 > . 'f''''.
3 , .'...1111
. -
o r ,,....-4':',.
, if , r
5 Aim/ v ,. ..,..,. ,,,,
..
, =
I i�1� �'
r moo. i*.
R1 - , .. f., 1 .,. .•vim �'
.....< . .. .
,,.. ., :
...,.... ,
...,,-;,..--,:„„Ar. ..:,.,...„ .„,,,,,,,,,,,,,,,,,,, , „ ,,
;_., , .._ .,- •-• :-_ -'' '-- :7--
> > . ...„
3 .
L.
--', i.:,;...,,,
NA
72
II1**--- . +'pit
'' „ li t.t
4‘--',..,:ill';;ILi4;rti,T.,v4-N.,,,, ,-,,,,...:„,-,,,
. ,
0 x
,L, ...... ,
, ,,
z m
„„
_ ,,,,,, v-i-E-.•-•-:.1'7' ---'-' -'4"-I.4-7--- -- *.......,;„ ..,. -;
' t.• ',I,. .. ,—•-- ..--.77- X --C:' ''• ' '''''''
"11:7 -‘, .ON ,,-,:,,,,17.1.• r......... •
> , '. ' , 1-1_,.. %-il,',
q t'‘,.‘!,
R,% �1 "18 ,ro i�"'
i
{ ` ..5 x 0 ��— ''/kms
rin
4
\4:..0"-4.1.'1-.:.'is ,- :.
' t,', ‘'1, a"..,,,,,: '*- ' lip os I vt
t N\ V --
r
-illk.i-- , . ,,, #
..._
,.......,._.
. . ,
i
�'� . . ._
i's,
• 'S BMs'.-..1.s1C ..• ., A ! J
,,
1 _ IT__'--., .„., ,
-... _ ..
I/ -1.' '' ' -
. _ ....,.„....,. i, .
..
. -:„..., ii, r.
).., ; '11.... . . PI k !
;
1 may, . '+'r -:.'.. M
<-00
...
riirr
.., AIM
<-
.,-
.0
4
„,„,•:,,:
rri
i , ,.....
Z
t -
,.„ *- ,y, '-- -, ir
- - ,---,...-.,- '-•.-T.,--7.',' •, y.k,i :2-Zi --Itr,,'' ';; ,,,
lit':,.:;f,-'•,•11 F.-?:-; {-,1-77, 'k'-'''''''4, .4.i' '1-'-,:!,. ,',*4'11*911:'.'Z177j.:..cri./.,/, 1,.;-/ , _:, ,,,,,,,„,,,,,,,,,,- „,-,;,,,,-,"•','''''!'•••''.., /
.,: .1.4„..!,H,, !,-.4.,,- ..... --:..,,..
' " °--i-f,e•-,,, 47.r-PT 144....
i 1,; .:,,; ' ,.: ''I ' -{1,1 1../: ;.7;',..„'.:A7,..:,,,;' •:,...,":4,,,,,:',','''''''"';""'"•
`1;:-.•' qrt.---'11.47'.41 ij•,-,----.14,-,••'' ','P,-1 i,' -,4-<d..,•,;'' - , -., ii -,...,,,AS,:-:,,,,,,,;.:A.,,,,tr,,:„.•.•:;:,•:,,,,,_
, ' ' . •1 j, ' ,.,'•'..--7•/:-. .4:1,vg, r,r,•
•• ',j s'r '' . 4k fi, ,t-_... . •-,' ........ .,•.4,..,•,..-„..,..,,,,,,,..„,„:„.„.„,„
,
i•
0 , '.i'f,.,'..r;.,'.,"J1I1 I1fi'IH;i'1''irld p 4}f1i111II,.',i•i 1I I•11I!t
I•t
,.7;'4,',1ir:.,',',4','i,-.4'',,',1.,•
,,,,•„?,—1,i,,,,',',,'A,,:,ii,':.:•,,
1:•,,'
,
-z•-%.-'•.'-:-,7W-7,
.-t,,,..,,=',.-•l'f,1..4il.j.:...''''r..'-
,s'J4.a1.::,::7I7,1r.r;t.-j,17-...,,,P,,-:4f.1f1-'.,r,,.„--,-'L!.7,1.,&:-:.•,7-',--...—,i_.,„:!.'-,4-g.ij...„,:,.,,:,,,,:t.,,,-'3„,
I
A7-.
.
i
g,z,' '1'. •.-'','j,.,t:,.,i,1::k.,d7_',1-;•,,c-4i.1..1,.:,,.---/':.,,-X',_.•„..rt,,,_,1.',:r-,i3:...,'41,,iii,„i-.,,dfri,7.,.,.i.47,,,z,•-4,-,/,,t,4-1 i::1 4P,;!1i
''„i,.11f1i_i,t,,1!-4'.,,.i,,-,4,°,±..•.1.I,',:1,•.
.,;.,1 4.,,;.,.i,r?-."',t,,:.1'.,,--:1-:'.,,:'-',,-,=,.:','',..:•
'.i:'i;.';'•'':'''-''•'7:.•:',•.,•''1-_:.::-,'..';
''-'•',;=C,•.„,:,.'••,o.;,.
i,:,-,,.,',,e7,::,,.,.,:.'-,:'','4,:,',,',t',•40.,,.;,'fz.,•.:,14'f0,.
---
di ' si ,.ifi ;':....1:1,i,t4,-
4,.,..4,.n,,,,.••
',z-.71,-,,/:,•'"--'-”-1':: ,.___
„v.
,,..e.',-.•
i
kittf,
.....,.
0 1, I I ,4;,,,,,,', '"..•-•?' .„skar ',;;;-,---.',-;,:, :*„..":;.;F::._,_,,.
.,--...r- 4,y.p..',--i7_,,,,-:::-,•-„,,--
., ,4,,,,,... ,-...-:-— •- •
,4...” (•,.;.'":1:417,bf:i''' ,,,,,,,,I,..: - ,fr*'--
,I !” 11:
i ry , ,:,14,.."‘.4', ,-/.1:1,'f-4,...,--,,V
- ' ::'=.'",":1'ke--,71...,,,i;,':
0 > 1 f r...?, , --,—,..--,,... -.7: -.:19 ,,,fie:, •••,,,,,,t,i:-- ---
=
I '!.
.71.7 -.,.---i,,..-7-
0 r—
r--- lir i'.,-,',L;- - • ‘•ifkb:;'.i.;-- '''''''. -----------' .'-.• • ' • ' ••
. ... - .... _......,,.;..„._......
,,..,.,.,„...
,,,.....
...c :,,,,,,, *,:t.... .,,, ...., ,...,,,,.,4„.,:,,,,,,,,,,,,,•41,...?:',..%4•4.•:,.---- ---t-f---!.7,,-,-,:•-•,':',. •••,:',7:-,,;,•:•,•:...:::',:::',.',.,.-,;,..:.,;7,..,,,•,-,,-.:„.„4,,,.::..,,,,,,,,,,,,,,„..,,,,,,:-...-,', „.-.:'''''' *:' -''''*''''''''-----:•''''
r- ....:
-4., '' '•• •,---Ji-i•,,,:y!'„r•-•'''',-,4,.--.:•.•:••••1,,,,..,,,, 4,:-14-;,,',',':' '''''''''''''''''' ''.' . ' ,,, ,,, _ ,-:,
r—
,.-
_.,.:
..
' ' :1''''''.:"1 'V..!),•:: '''',),:',:•":•!!''''',..',-;:•,:•:::::::',:-•'-'''''•'''''".'''''''''''''''''''''-- .
xl,
'' . ..''' kit• -1- •
.,:-/ , - .'.i. .' (";,':'.•i -- ''.
N ,ttpor, . :,,,t,-.A' •! .',, , -r'„.'"-----, --,--,,44--L.*--- '
, ,r...i0,\ ,,, , ..:Ai: •ill,,,,-„.h t.,.,)-..,,f:r ,..,c,'•ti,:;
1'111, '''. ' '''''''''W ''''''• .' 'ir,•,,i-11:41,7,1; 1 j.k4it..:''''t-'.Alt It'
I '•,,,...: , ';', - '•' ,.';',i'":'''-'4,'-' fVti ' i•:- .,-li'lit'•
''.4*,,,;tt t`r,..,:•:,.
> ......4 '•,,,:iiik, :'
i,,-,.- • , ., A, ,,..,;„•,,,,:,,,,,,,,,,,,,P, --;-----,---,-.-----_-_-;;;,-,- -- -,,- Vr'.' ' _,.,..-...'-',,:::-'-',.•
..., ,•,'''''' '
V cf ''''','::;',.'rl.'.i:
iiii,
,.. .-.,'•...;,, :-';',.:,. ,2--
w ' :.:::;,!• ,,,,.;3.:',:t:i•,•:::-. ,..-...---.4„,,,,..„„.!:,.. ..,,,,vr-•• ' ''-'_- --- ----- --_-_-_:7---- -- ..,-„,,,,.,..
, ....,;7:;-1,-,:',.,,yi-.•„ ,
., ,,, ,,,,,,,,.., ,,,,,,,„.„._„,_ae.„„,___,__, _.
> 1.
_ r...„
,,,, .4, - 1' ''' •:::•- ,-.. -c.,
,. ,
''''...,,
4&,..,,,
\IL
,,,,,,,, ,,,,,,..„1_.,,,, ”... 12.:,...":,••
n ',
,,. . , ,'- ---..•\'i'''
„... -....,.. ,.-' k,, °'''',..""";”r
'•,,it, 1,,,',,... .,
rri , . '''''/ .. .,,,, ....",„.4.,4,... — .
. .-:-.•
.„....,..
' ''',. •...‘;'' ' ' ,
•''-
, . .
„;., . - •
1 •• '•'\'''''."
3/4','''',' '. '' : •t
•(•.'-', ' , :1.• !
,.-
:„..., .
4
1
•" ^-'t" ,,,, • ! IC ili- '''•
•1 ".:.,,'"7-'7•‘-'-....a"' , ' 4 .
,..„, .
...1
,.. .:
1 -7.' '
---,,,,, ,:,,.
I ,.. ), 1 ii• 14
..„.„. .• _...._
,..
. t.,
,C1
.. .
.',..,,. .....,,:,:
ii ININIEll
1 J 110.
i -
,....t:,f;,..-,-Z;:,:',..1
"'fir , '
.,-,r1.-A.
i,a.1 w ... l +�. F _ i •�'rt `; 1t t.,,, .- if, M1 J .-4...'
♦,,,,,,,,T,!..4,,„
a ,
d
- ; .__ 7-7 ..._.7,-...,;--1.L.H.--;._---LI_,._,P,',..,. 'I' .!',":
f(
iiltotititt
ILIIii:t ,
t 0 y- yH
''''''''',41-..4,-,..,'''''''"-
4q ..w+wv,• �r�,
'- :100
i 1 iii CI,• 1,,'` ;...:-.-::::. A
► .; ,, �; ° ,may y
� =` `iiia'
Y -� ,i.ve, .
4,„,.74,
It
`tf4141.11,,,.-1 44 :, 3 *. -
..„.. r „lift, ,„ , , . ... ,
.)-0
, ^' yi lil
li 1 i .. .. . ..4. , /
�;fi.``�1� I i# C8�`'+Y � (- P.,, 1 -h* ♦aqI Stt _
•
0 1,-- . • ' $74`,,71;11'i- .
)1 ft i I /
/y, p tiw
r i 4,14111t1 s'i';''''2 itfaticillAti-1!'....1:
''''',1';',;� �. ! til/.
. if' , -, , _.:ve ', ,
Y
�:-.:4'41.: //w'
.f., ,i, , i, . ., -.:,....._,,milteil 11
' r
iiif,)4 ...,-, ....., 1.......,—...4----'' ,/
�3Ismaim....111;te'
{
. ....
.,
f,♦.. itiii S� f { ., `g r ,g, j,.,, 4.1.# /h lrr0/,',..-;/17;1:,//,`'rr'
0 • e.
rt,
�fe „,, .,.i".. '. t'
, j Pt
w,. #��j�i`• :,://,,,,,,,,,',,l//„.,F /,//NOjC,✓d/r',r ri IFM%f�/j
Jf * J �/ r�f Jt'- r/r/ l r i//4rri G.1- i
wLf {� JTT/ ''i:,,
-ZJ^' ,'A#..„,,,,,;.,_1.,4
`�.° u / mi ✓ 1,//�J 1 r, ° ,��I11/IIn; '����ir/// Mr �+ �' rl�� �'/y/guy r r b
,,,,'
' 4if ,, ,,
rvj%/y"
t t ..JCSr/prN,
0 > 4
rn .. ; { .,,— ...< , 1 .` "
) qr 1-'41.''''''.."'tc.,,,,,,,,t+.".'4',,r..:11k4111111*'
�
, „
„, . .
---_, I ,. . 4,, '
-G � f1 '
k+
'wl:
i'"
72
x F!..,i }�
,..',4,'"':"„.,,,,,,,,,
*4*
41
iv
P) ' ; ,',1 fiat- .;;','. ,;',',
0 -.. ik,
. t
., ,. ;1/44ithe
'� c y p r4 J'FJ#'
no 1.1,, ,f ‘.E,,, ,t!'„, ,, c
J
r-- .
.,,
1,1,
♦ JJJggg i QZp .. ,. •
,, .,.,, tilt,ti,.,
1 #.
,,..
y..► x',.,{ ({i k.h`fir,i,yP�@•y � .*f~i l�a�3, Jf #rks'; �q
.`� i �,, I+, tt� t "3. .r3 t "ciii1lttAY 9j.T� ♦k•,k<#k'
F'' 1 ''.
„,,,,t4
i.
„,, 41,:„!
,:,,,,ii:jr:,
- :::;;;'.
, - ,
r--) •A ,,,„ /; 1.,!, 4..',.''', '','
ly ` ' ".,J#' yobr
L 4. t dry+ , 4. , #.J#, {� ...,„„t...
tl
` t'li l , ,,'''',1',
y ♦ b M v
t 49 � • #J �j �^ 1.,:”
� ,k it e"" 4 � s,su .�Y. ;o',0 ,f° �, », "fit
J J # }1 t �_ ) fil�* a1_,,,--....k y
p/#y ,� Mme'
I k '7
i
iit,,*.~..,--.."
�'4'S; r! € ' i' �� ry j f y, !{'f#!�#�'•'{J k t ) y, .,r y. k
�,'. �)•
1s..t.►.IE a,�+R*R.l.i`J�:,.t�.Y is•Jit# �s'Is'.:�ld.,. {
1 of x r. a tr
ii a , 4 r S w '� _ 3'« t��a?qty? ir
TA
�"�. +t'.
r, ' � ti -law-77
i } ":1'1,-,c.
�` �
litt
#9 ► �; 5 ,47
#J �t',,,,,,i4i.,-,7,C#i ,;;;;;„_,;,;1,,,111::117,1-::::::::74:•fit'4,;',',;,,,,,,',
, 4'' , x ''�..,�s W
r def{ a.. ♦ .Y `�' �3{M �♦ A�♦l,dY ,p,� �'°•
ff.
:1w. 'ilf: . .3,.9.,-.,„),..r.'.-,,;„' '- ').
-1,..',,.:.,,,.
vt.'‘
,im.4,„ 4..-.7. -
li'.
Oti 1...,. , I i ,L,,.
{ J #
f JJ
1r
Cy �
x ) f
.... . ;$75.' lit **-1'
e, 44
,� `,(i.
� ��'.a":.' mil. ;:-. -7z j� l;:�`• 1:*� s
a ! Iy4li ,,tom 4.. M�
,::.. ..,
A' '\I , I'
wit, J
\ii 4.\11.:',.;k:.':t
..„,
Y:, ,.,
�4'a ♦ w,, �{ •� - Syi1'}'"Y`t}i• `t iw# j- r •r-z ,JF, • '''` r "" •J,- ,... , r
::
y
ti,,,, _ � l
gg ,
1'4,1 , q
tf f t ., ... r.
i i Y1t:l : ,t► `1 ° { �"
..41
ii'nasal
T ..M ?�At' x+11
y QJ,xf-...
• ; 3 ,fit{ +J 1111111:' . ,,.