0000757010-15-000011.txt : 20150501 0000757010-15-000011.hdr.sgml : 20150501 20150501130910 ACCESSION NUMBER: 0000757010-15-000011 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 22 CONFORMED PERIOD OF REPORT: 20150228 FILED AS OF DATE: 20150501 DATE AS OF CHANGE: 20150501 EFFECTIVENESS DATE: 20150501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN TAX FREE TRUST CENTRAL INDEX KEY: 0000757010 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-04149 FILM NUMBER: 15823233 BUSINESS ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 BUSINESS PHONE: 650-312-2000 MAIL ADDRESS: STREET 1: ONE FRANKLIN PARKWAY CITY: SAN MATEO STATE: CA ZIP: 94403-1906 0000757010 S000006913 FRANKLIN HIGH YIELD TAX-FREE INCOME FUND C000018757 ADVISOR CLASS FHYVX C000018758 CLASS A FRHIX C000018760 CLASS C FHYIX 0000757010 S000006914 FRANKLIN INSURED TAX-FREE INCOME FUND C000018761 CLASS A FTFIX C000018763 CLASS C FRITX C000068548 ADVISOR CLASS FINZX 0000757010 S000006918 FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND C000018769 CLASS A FMISX C000018770 CLASS C FMAIX C000079636 ADVISOR CLASS 0000757010 S000006923 FRANKLIN NEW JERSEY TAX-FREE INCOME FUND C000018781 CLASS A FRNJX C000018783 CLASS C FNIIX C000068551 ADVISOR CLASS FNJZX 0000757010 S000006931 FRANKLIN DOUBLE TAX-FREE INCOME FUND C000018800 CLASS A FPRTX C000018801 CLASS C FPRIX C000079645 ADVISOR CLASS FDBZX 0000757010 S000006932 FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND C000018802 CLASS A FKITX C000018803 CLASS C FCITX C000074134 ADVISOR CLASS FITZX 0000757010 S000006933 FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND C000018804 CLASS A FFTFX C000096868 Advisor Class FTFZX N-CSR 1 ftftncsr22815.htm ftftncsr22815.htm - Generated by SEC Publisher for SEC Filing

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM N-CSR

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

 

             Investment Company Act file number_811-04149

 

_Franklin Tax-Free Trust

(Exact name of registrant as specified in charter)

 

_One Franklin Parkway, San Mateo, CA  94403-1906

(Address of principal executive offices)    (Zip code)

 

_Craig S. Tyle, One Franklin Parkway, San Mateo, CA  94403-1906

(Name and address of agent for service)

 

Registrant's telephone number, including area code:_(650) 312-2000

 

Date of fiscal year end:_2/28

 

Date of reporting period: _02/28/15

 

 

Item 1. Reports to Stockholders.

 

 



 

Franklin Templeton Investments

Gain From Our Perspective®

At Franklin Templeton Investments, we’re dedicated to one goal: delivering exceptional asset management for our clients. By bringing together multiple, world-class investment teams in a single firm, we’re able to offer specialized expertise across styles and asset classes, all supported by the strength and resources of one of the world’s largest asset managers. This has helped us to become a trusted partner to individual and institutional investors across the globe.

Focus on Investment Excellence

At the core of our firm, you’ll find multiple independent investment teams—each with a focused area of expertise—from traditional to alternative strategies and multi-asset solutions. And because our portfolio groups operate autonomously, their strategies can be combined to deliver true style and asset class diversification.

All of our investment teams share a common commitment to excellence grounded in rigorous, fundamental research and robust, disciplined risk management. Decade after decade, our consistent, research-driven processes have helped Franklin Templeton earn an impressive record of strong, long-term results.

Global Perspective Shaped by Local Expertise

In today’s complex and interconnected world, smart investing demands a global perspective. Franklin Templeton pioneered international investing over 60 years ago, and our expertise in emerging markets spans more than a quarter of a century. Today, our investment professionals are on the ground across the globe, spotting investment ideas and potential risks firsthand. These locally based teams bring in-depth understanding of local companies, economies and cultural nuances, and share their best thinking across our global research network.

Strength and Experience

Franklin Templeton is a global leader in asset management serving clients in over 150 countries.1 We run our business with the same prudence we apply to asset management, staying focused on delivering relevant investment solutions, strong long-term results and reliable, personal service. This approach, focused on putting clients first, has helped us to become one of the most trusted names in financial services.

1. As of 12/31/14. Clients are represented by the total number of shareholder accounts.

Not FDIC Insured | May Lose Value | No Bank Guarantee


 

Contents  
 
Shareholder Letter 1
Annual Report  
Municipal Bond Market Overview 3
Investment Strategy and  
Manager’s Discussion 4
Franklin Double  
Tax-Free Income Fund 5
Franklin Federal Intermediate-Term  
Tax-Free Income Fund 12
Franklin Federal Limited-Term  
Tax-Free Income Fund 19
Franklin High Yield  
Tax-Free Income Fund 25
Franklin Insured  
Tax-Free Income Fund 32
Franklin Massachusetts  
Tax-Free Income Fund 39
Franklin New Jersey  
Tax-Free Income Fund 47
Financial Highlights and  
Statements of Investments 55
Financial Statements 144
Notes to Financial Statements 154
Report of Independent Registered  
Public Accounting Firm 169
Tax Information 170
Board Members and Officers 171
Shareholder Information 176
 
 
 
 
franklintempleton.com  

 


 



 

Annual Report

Municipal Bond Market Overview

For the fiscal year ended February 28, 2015, municipal bond market performance remained strong as prices rose. The Barclays Municipal Bond Index, which tracks investment-grade municipal securities, generated a +6.49% total return for the period.1 In comparison, the Barclays U.S. Treasury Index posted a 12-month total return of +4.40%.1 During the same period, the Barclays 10-Year Municipal Bond Index delivered a +6.26% total return.1

October 2014 marked the end of the Federal Reserve Board’s (Fed’s) bond buying program, which began in 2009. In sharp contrast to 2013 when the Fed changed the extent of its bond buying program, the Fed was consistent with tapering and ending the program over the reporting period, which seemed to reduce financial market volatility. Confidence in an orderly tapering led investors to purchase municipal securities through municipal bond mutual funds. According to the Investment Company Institute, municipal bond fund flows were positive for 12 consecutive months as of February.

Data released during the period under review suggested that economic activity grew at a moderate pace. The unemployment rate declined from 6.7% in February 2014 to 5.5% in February 2015, while the consumer price index was unchanged over the same period.2 Of the Fed’s two mandates, facilitating maximum employment and controlling inflation, the Fed has been more concerned with the former, seeking to foster greater economic growth. As a result, the Fed kept its target rate at 0%-0.25% during the past 12 months.

On June 28, 2014, Puerto Rico Governor Alejandro Garcia Padilla signed into law the Public Corporation Debt Enforcement and Recovery Act. By virtue of its status as a U.S. territory, Puerto Rico, as well as its public agencies, corporations and cities, is not currently eligible to file for bankruptcy under chapter 9 of the U.S. Bankruptcy Code. The governor’s stated intent for this law was to provide an organized, legal framework for Puerto Rico’s public corporations to restructure their debt should they become insolvent. With passage of the act, the market anticipated a significant likelihood that at least one of Puerto Rico’s public corporations would file under the new act. Franklin Templeton Investments joined in a lawsuit filed in Puerto Rico challenging the constitutionality of the act. On February 6, 2015, a federal judge ruled that Puerto Rico’s Public Corporation

Debt Enforcement and Recovery Act was unconstitutional. As expected, Puerto Rico appealed the ruling on February 10, 2015. The ruling led to price volatility among several Puerto Rico municipal bond issues. Generally, prices rose for those agencies covered by the restructuring act and fell for those not covered by the law.

The ruling also prompted independent credit rating agencies Standard & Poor’s, Moody’s Investors Service and Fitch Ratings to further lower Puerto Rico’s general obligation debt rating, which was already below investment grade. Correspondingly, ratings on several other Puerto Rico credits were cut. In an unrelated ratings action, Moody’s lowered the City of Chicago’s rating by one notch to Baa2. The rating agency cited budgetary pressures from the city’s underfunded public pensions as the largest reason for the downgrade. Bonds issued by municipalities involved in such stories have often experienced price erosion in secondary trading, but the extent of price erosion and the contagion to related issues have been unpredictable. Fallout from such headlines during the reporting period was no exception.

Franklin Templeton is a member of a creditors committee made up of bondholders of the Puerto Rico Electric Power Authority (PREPA) with the goal of achieving a negotiated market-based, long-term solution to PREPA’s liquidity and structural issues.

At period-end, we maintained our positive view of the municipal bond market. We believe municipal bonds continue to be an attractive asset class among fixed income securities, and we intend to follow our solid discipline of investing to maximize income while seeking value in the municipal bond market.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

1. Source: Morningstar.

2. Source: Bureau of Labor Statistics.

See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 3


 

Investment Strategy and Manager’s Discussion

Investment Strategy

We use a consistent, disciplined strategy in an effort to maximize tax-exempt income for our shareholders by seeking to maintain exposure to higher coupon securities while balancing risk and return within each Fund’s range of allowable investments. We generally employ a buy-and-hold approach and invest in securities we believe should provide the most relative value in the market. We do not use leverage or derivatives, nor do we use hedging techniques that could add volatility and contribute to underperformance in adverse markets.

Manager’s Discussion

Based on the combination of our value-oriented philosophy of investing primarily for income and a positive-sloping municipal yield curve, in which yields for longer term bonds are higher than those for shorter term bonds, we favored the use of longer term bonds. Consistent with our strategy, we generally sought to purchase bonds with good call features from 15 to 30 years in maturity for the long-term funds, 10 to 15 years for the intermediate-term fund, and five years or less for the limited-term fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

We invite you to read your Fund report for more detailed performance and portfolio information. Thank you for your participation in Franklin Tax-Free Trust. We look forward to serving your future investment needs.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, country, industry, security or fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

4 | Annual Report

franklintempleton.com


 

Franklin Double Tax-Free Income Fund

We are pleased to bring you Franklin Double Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015. The Fund closed to all new investments (other than reinvestment of dividends or capital gains distributions) at the close of the market on August 1, 2012.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal and state personal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its net assets in securities that pay interest free from such taxes.1 The Fund focuses on municipal securities issued by U.S. territories such as Puerto Rico, Guam and the U.S. Virgin Islands, and currently invests primarily in Puerto Rico municipal securities.

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 6.28 %
AA 8.21 %
A 19.07 %
BBB 27.96 %
Below Investment Grade 38.04 %
Not Rated 0.44 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $9.72 on February 28, 2014, to $9.88 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 52.50 cents per share for the same period.2 The

Performance Summary beginning on page 7 shows that at the end of this reporting period the Fund’s Class A shares’ distribution rate was 4.62%, based on an annualization of the 3.97 cent per share February dividend and the maximum offering price of $10.32 on February 28, 2015. An investor in the 2015 maximum federal income tax bracket of 43.40% (including 3.8% Medicare tax) would need to earn a distribution rate of 8.16% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

                Dividend per Share   (cents)
Month Class A Class C Advisor Class
March 4.61 4.22 4.68
April 4.61 4.22 4.68
May 4.61 4.22 4.68
June 4.61 4.17 4.68
July 4.61 4.17 4.68
August 4.46 4.02 4.53
September 4.36 3.91 4.44
October 4.36 3.91 4.44
November 4.26 3.81 4.34
December 4.07 3.60 4.15
January 3.97 3.50 4.05
February 3.97 3.50 4.05
Total 52.50 47.25 53.40

 

*Assumes shares were purchased and held for the entire accrual period. Since dividends accrue daily, your actual distributions will vary depending on the date you purchased your shares and any account activity. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

1. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable. Distributions of capital gains are generally taxable. To avoid
imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors must be properly certified on Form W-9 and non-U.S. investors
on Form W-8BEN.
2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).
The SOI begins on page 58.

franklintempleton.com

Annual Report

| 5


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms Standard & Poor’s, Moody’s Investors Service and Fitch Ratings downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities.

In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even further. The Fund is not required to sell securities that have been downgraded to below investment grade, but it is prohibited from making further purchases of such securities as long as the securities are not rated investment grade by at least one U.S. nationally recognized rating service. Rating actions combined with news related to the commonwealth’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period.

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
Tax-Supported 22.4 %
Other Revenue 20.3 %
Utilities 16.3 %
Higher Education 11.4 %
General Obligation 6.5 %
Refunded 6.3 %
Subject to Government Appropriations 5.5 %
Transportation 5.4 %
Hospital & Health Care 3.7 %
Housing 2.2 %

 

*Does not include short-term investments and other net assets.

Franklin Double Tax-Free Income Fund was the first mutual fund to offer both state and federal income tax exemptions in most states. We do this by focusing on investments in U.S. territories such as Puerto Rico, the U.S. Virgin Islands and Guam. This can be particularly appealing to residents of states where income from their own municipal securities may be fully taxable.

The Fund held 38 different positions across 10 different sectors as of February 28, 2015. Issuers represented in the portfolio comprised Puerto Rico (63.0% of the Fund’s total long-term investments), Guam (28.5%) and the U.S. Virgin Islands (8.5%).

Thank you for your continued participation in Franklin Double Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

6 | Annual Report

franklintempleton.com


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FPRTX) $ 9.88 $ 9.72 +$ 0.16
C (FPRIX) $ 9.92 $ 9.77 +$ 0.15
Advisor (FDBZX) $ 9.89 $ 9.74 +$ 0.15
 
 
Distributions (3/1/14–2/28/15)            
                      Dividend
Share Class   Income        
A $ 0.5250        
C $ 0.4725        
Advisor $ 0.5340        

 

franklintempleton.com

Annual Report

| 7


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 4.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class                                                Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.67 %
1-Year + 7.24 % + 2.70 % + 1.27 %    
5-Year + 7.65 % + 0.61 % + 0.36 %    
10-Year + 28.78 % + 2.12 % + 2.10 %    
C                   1.23 %
1-Year + 6.53 % + 5.53 % + 4.25 %    
5-Year + 4.60 % + 0.90 % + 0.68 %    
10-Year + 21.79 % + 1.99 % + 1.99 %    
Advisor5                   0.58 %
1-Year + 7.22 % + 7.22 % + 5.93 %    
5-Year + 8.15 % + 1.58 % + 1.34 %    
10-Year + 29.57 % + 2.62 % + 2.62 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   4.62 %   8.16 %   3.57 % 6.31 %
C   4.23 %   7.47 %   3.22 % 5.69 %
Advisor   4.91 %   8.67 %   3.83 % 6.77 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

8 | Annual Report

franklintempleton.com


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.



franklintempleton.com

Annual Report

| 9


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Because the Fund currently invests principally in Puerto Rico municipal bonds, it is subject to greater risk as those securities have been impacted by recent adverse economic and market changes. This along with adverse economic and regulatory changes in other U.S. territories may cause the Fund’s share price to decline. The Fund is classified as a nondiversified fund, because it may invest a greater portion of its assets in the municipal securities of one issuer than a diversified fund. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 7/15/09, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 7/15/09, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 7/15/09, actual Advisor Class performance is used reflecting
all charges and fees applicable to that class. Since 7/15/09 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were
+19.37% and +3.20%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share
on 2/28/15.
7. Taxable equivalent distribution rate and yield assume the 2015 maximum federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index is a market value-weighted index engineered for the long-term tax-exempt bond market. To be included in the
index, bonds must be fixed rate, have at least one year to final maturity and be rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies:
Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

10 | Annual Report

franklintempleton.com


 

FRANKLIN DOUBLE TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,031.80 $ 3.88
Hypothetical (5% return before expenses) $ 1,000 $ 1,020.98 $ 3.86
C            
Actual $ 1,000 $ 1,028.80 $ 6.69
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.20 $ 6.66
Advisor            
Actual $ 1,000 $ 1,031.30 $ 3.42
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.42 $ 3.41

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.77%; C: 1.33%; and Advisor:
0.68%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

franklintempleton.com

Annual Report

| 11


 

Franklin Federal Intermediate-Term Tax-Free Income Fund

We are pleased to bring you Franklin Federal Intermediate-Term Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its total assets in securities that pay interest free from such taxes.1 The Fund maintains a dollar-weighted average portfolio maturity (the time in which the debt must be repaid) of three to 10 years.

Credit Quality Breakdown*

2/28/15

                         % of Total  
Ratings Long-Term Investments  
AAA 14.55 %
AA 65.22 %
A 16.34 %
BBB 1.44 %
Below Investment Grade 0.36 %
Refunded 2.08 %
Not Rated 0.01 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $12.21 on February 28, 2014, to $12.44 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 32.34 cents per share for the same period.2 The Performance Summary beginning on page 14 shows that at the

end of this reporting period the Fund’s Class A shares’ distribution rate was 2.41%, based on an annualization of the 2.56 cent per share February dividend and the maximum offering price of $12.73 on February 28, 2015. An investor in the 2015 maximum federal income tax bracket of 43.40% (including 3.8% Medicare tax) would need to earn a distribution rate of 4.26% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

  Dividend per Share (cents)
Month Class A Class C Advisor Class
March 2.83 2.28 2.93
April 2.72 2.17 2.82
May 2.72 2.17 2.82
June 2.72 2.16 2.82
July 2.72 2.16 2.82
August 2.72 2.16 2.82
September 2.68 2.11 2.78
October 2.68 2.11 2.78
November 2.68 2.11 2.78
December 2.68 2.10 2.79
January 2.63 2.05 2.74
February 2.56 1.98 2.67
Total 32.34 25.56 33.57

 

*Assumes shares were purchased and held for the entire accrual period. Since dividends accrue daily, your actual distributions will vary depending on the date you purchased your shares and any account activity. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

1. Dividends are generally subject to state and local taxes, if any. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable.
Distributions of capital gains are generally taxable. To avoid imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors
must be properly certified on Form W-9 and non-U.S. investors on Form W-8BEN.
2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).
The SOI begins on page 63.

12 | Annual Report

franklintempleton.com


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms Standard & Poor’s, Moody’s Investors Service and Fitch Ratings downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities.

In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even further. The Fund is not required to sell securities that have been downgraded to below investment grade, but it is prohibited from making further purchases of such securities as long as the securities are not rated investment grade by at least one U.S. nationally recognized rating service. Rating actions combined with news related to the commonwealth’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period.

Portfolio Breakdown

2/28/15

                                        % of Total  
  Long-Term Investments*  
General Obligation 22.8 %
Utilities 21.3 %
Transportation 15.7 %
Subject to Government Appropriations 15.0 %
Tax-Supported 8.8 %
Hospital & Health Care 6.1 %
Other Revenue 4.7 %
Higher Education 2.9 %
Refunded 2.7 %
Housing 0.0 %**

 

The Fund also held various Detroit general obligation bonds during the reporting period. In light of the fact that the bonds are included in the City’s plan of adjustment under Chapter 9 bankruptcy, it is important to note that the Detroit general obligation bonds held in the Fund are insured or are backed by Michigan State Distributable Aid revenues. Municipal bond insurance guarantees the timely payment of principal and interest of the insured bond. The City of Detroit officially emerged from bankruptcy on December 10, 2014. During the period, we held insured bonds that were impaired by the bankruptcy, but because they were insured, the Fund was paid in full and we have since sold them. None of the bonds held by the Fund at period-end were impaired by the bankruptcy.

Thank you for your continued participation in Franklin Federal Intermediate-Term Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

*Does not include short-term investments and other net assets.

**Rounds to less than 0.1%.

franklintempleton.com

Annual Report

| 13


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FKITX) $ 12.44 $ 12.21 +$ 0.23
C (FCITX) $ 12.47 $ 12.24 +$ 0.23
Advisor (FITZX) $ 12.47 $ 12.24 +$ 0.23
 
 
Distributions (3/1/14–2/28/15)            
                  Dividend
Share Class   Income        
A $ 0.3234        
C $ 0.2556        
Advisor $ 0.3357        

 

14 | Annual Report

franklintempleton.com


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 2.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class   Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.65 %
1-Year + 4.58 % + 2.24 % + 2.78 %    
5-Year + 24.48 % + 4.00 % + 4.20 %    
10-Year + 51.15 % + 3.98 % + 4.11 %    
C                   1.20 %
1-Year + 4.00 % + 3.00 % + 3.57 %    
5-Year + 21.15 % + 3.91 % + 4.10 %    
10-Year + 43.05 % + 3.65 % + 3.77 %    
Advisor5                   0.55 %
1-Year + 4.67 % + 4.67 % + 5.16 %    
5-Year + 25.25 % + 4.61 % + 4.78 %    
10-Year + 52.38 % + 4.30 % + 4.42 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   2.41 %   4.26 %   0.88 % 1.55 %
C   1.91 %   3.37 %   0.39 % 0.69 %
Advisor   2.57 %   4.54 %   1.01 % 1.78 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

franklintempleton.com

Annual Report

| 15


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly |in an index.


16 | Annual Report

franklintempleton.com


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. The Fund holds a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the Fund’s share price to decline. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 12/1/08, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 12/1/08, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 12/1/08, actual Advisor Class performance is used reflecting
all charges and fees applicable to that class. Since 12/1/08 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were
+44.27% and +6.05%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share on
2/28/15.
7. Taxable equivalent distribution rate and yield assume the 2015 maximum federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index: 10-Year Component is the 10-year (8-12) component of the Municipal Bond Index, which is a market value-
weighted index engineered for the long-term tax-exempt bond market. To be included in the index, bonds must be fixed rate, have at least one year to final maturity and be
rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies: Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 17


 

FRANKLIN FEDERAL INTERMEDIATE-TERM TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,015.30 $ 3.50
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.32 $ 3.51
C            
Actual $ 1,000 $ 1,012.50 $ 6.24
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.60 $ 6.26
Advisor            
Actual $ 1,000 $ 1,015.80 $ 3.00

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.70%; C: 1.25%; and Advisor: 0.60%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

18 | Annual Report

franklintempleton.com


 

Franklin Federal Limited-Term Tax-Free Income Fund

This annual report for Franklin Federal Limited-Term Tax-Free Income Fund covers the fiscal year ended February 28, 2015.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its total assets in securities that pay interest free from such taxes.1 The Fund maintains a dollar-weighted average portfolio maturity (the time in which the debt must be repaid) of five years or less.

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 21.08 %
AA 49.53 %
A 22.13 %
BBB 2.00 %
Below Investment Grade 0.92 %
Refunded 4.34 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, decreased from $10.51 on February 28, 2014, to $10.47 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 10.31 cents per share for the same period.2 The Performance Summary beginning on page 21 shows that at the end of this reporting period the Fund’s Class A shares’ distribution rate was 0.83%, based on an annualization of the 0.74 cent

per share February dividend and the maximum offering price of $10.71 on February 28, 2015. An investor in the 2015 maximum federal income tax bracket of 43.40% (including 3.8% Medicare tax) would need to earn a distribution rate of 1.47% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Advisor Class shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

  Dividend per Share (cents)
Month Class A Advisor Class
March 0.81 0.94
April 0.81 0.94
May 0.91 1.04
June 0.91 1.04
July 0.91 1.04
August 0.91 1.04
September 0.91 1.04
October 0.88 1.01
November 0.84 0.97
December 0.84 0.97
January 0.84 0.97
February 0.74 0.87
Total 10.31 11.87

 

*Assumes shares were purchased and held for the entire accrual period. Since
dividends accrue daily, your actual distributions will vary depending on the date
you purchased your shares and any account activity. All Fund distributions will vary
depending upon current market conditions, and past distributions are not indicative
of future trends.

1. Dividends are generally subject to state and local taxes, if any. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable.
Distributions of capital gains are generally taxable. To avoid imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors
must be properly certified on Form W-9 and non-U.S. investors on Form W-8BEN.
2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).
The SOI begins on page 82.

franklintempleton.com

Annual Report

| 19


 

FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Consistent with our investment strategy, we invested in bonds we believed could provide the most relative value from an income perspective. Seeking a dollar-weighted average portfolio maturity of five years or less, we concentrated in the one- to five-year range in an effort to insulate investors against bond market volatility. As a result of our strategy, we believe the Fund was positioned to be less sensitive to changes in short-term interest rates, and to preserve capital and produce tax-free income.

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
General Obligation 30.9 %
Transportation 13.4 %
Utilities 13.1 %
Refunded 10.0 %
Subject to Government Appropriations 9.1 %
Higher Education 7.6 %
Other Revenue 6.6 %
Tax-Supported 4.7 %
Hospital & Health Care 3.2 %
Housing 0.9 %
Corporate-Backed 0.5 %

 

*Does not include short-term investments and other net assets.

Thank you for your continued participation in Franklin Federal Limited-Term Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

20 | Annual Report

franklintempleton.com


 

FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FFTFX) $ 10.47 $ 10.51 -$ 0.04
Advisor (FTFZX) $ 10.46 $ 10.50 -$ 0.04
 
Distributions (3/1/14–2/28/15)            
Dividend
Share Class   Income        
A $ 0.1031        
Advisor $ 0.1187        

 

Performance1

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 2.25% maximum initial sales charge; Advisor Class: no sales charges.

                     
    Cumulative     Average Annual     Average Annual           Total Annual      Operating Expenses5  
Share Class   Total Return2     Total Return3     Total Return (3/31/15)4   (with waiver)   (without waiver)  
A                   0.63 % 0.69 %
1-Year + 0.60 %   -1.64 %   -1.38 %        
5-Year + 9.43 % + 1.35 % + 1.46 %        
10-Year + 29.61 % + 2.39 % + 2.42 %        
Advisor6                   0.48 % 0.54 %
1-Year + 0.75 % + 0.75 % + 0.94 %        
5-Year + 9.98 % + 1.92 % + 2.03 %        
10-Year + 30.26 % + 2.68 % + 2.70 %        

 

                  Taxable Equivalent  
          30-Day Standardized Yield9   30-Day Standardized Yield8  
  Distribution   Taxable Equivalent                  
Share Class Rate7   Distribution Rate8   (with waiver)   (without waiver)   (with waiver)   (without waiver)  
A 0.83 % 1.47 % 0.22 % 0.14 % 0.39 % 0.25 %
Advisor 1.00 % 1.77 % 0.36 % 0.28 % 0.64 % 0.49 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

franklintempleton.com

Annual Report

| 21


 

FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment1

Total return represents the change in value of an investment over the periods shown. It includes any current, applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.


22 | Annual Report

franklintempleton.com


 

FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class A: Prior to 2/1/06, these shares were offered without an initial sales charge; thus actual total returns would have differed.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. The Fund has an expense reduction contractually guaranteed through at least 6/30/15. Fund investment results reflect the expense reduction, to the extent applicable;
without this reduction, the results would have been lower.
2. Cumulative total return represents the change in value of an investment over the periods indicated.
3. Average annual total return represents the average annual change in value of an investment over the periods indicated.
4. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
5. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
6. Effective 2/1/11, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 2/1/11, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 2/1/11, actual Advisor Class performance is used reflecting all
charges and fees applicable to that class. Since 2/1/11 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were +8.68%
and +2.06%.
7. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Advisor Class) per share on 2/28/15.
8. Taxable equivalent distribution rate and yield assume the 2015 maximum federal income tax rate of 39.60% plus 3.8% Medicare tax.
9. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
10. Source: Morningstar. The Barclays Municipal Bond Index: 5-Year Component is the 5-year (4-6) component of the Municipal Bond Index, which is a market value-
weighted index engineered for the long-term tax-exempt bond market. To be included in the index, bonds must be fixed rate, have at least one year to final maturity and be
rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies: Moody’s, S&P and Fitch.
11. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 23


 

FRANKLIN FEDERAL LIMITED-TERM TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,001.00 $ 3.13
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.67 $ 3.16
Advisor            
Actual $ 1,000 $ 1,001.70 $ 2.38
Hypothetical (5% return before expenses) $ 1,000 $ 1,022.41 $ 2.41

 

*Expenses are calculated using the most recent six-month annualized expense ratio, net of expense waivers, annualized for each class (A: 0.63% and Advisor: 0.48%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

24 | Annual Report

franklintempleton.com


 

Franklin High Yield Tax-Free Income Fund

We are pleased to bring you Franklin High Yield Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015.

Your Fund’s Goals and Main Investments

The Fund seeks to provide a high current yield exempt from federal income taxes by investing at least 80% of its net assets in securities that pay interest free from such taxes.1 Its secondary goal is capital appreciation to the extent possible and consistent with the Fund’s principal investment goal.

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 5.14 %
AA 27.18 %
A 25.70 %
BBB 19.93 %
Below Investment Grade 12.53 %
Refunded 2.04 %
Not Rated 7.48 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $10.15 on February 28, 2014, to $10.68 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 46.58 cents per share for the same period.2 The Performance Summary beginning on page 27 shows that at the end of this reporting period the Fund’s Class A shares’ distribution rate was 4.03%, based on an annualization of the 3.74 cent

per share February dividend and the maximum offering price of $11.15 on February 28, 2015. An investor in the 2015 maximum federal income tax bracket of 43.40% (including 3.8% Medicare tax) would need to earn a distribution rate of 7.12% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

          Dividend per Share                 (cents)
Month Class A Class C Advisor Class
March 4.19 3.73 4.27
April 4.19 3.73 4.27
May 4.19 3.73 4.27
June 3.89 3.42 3.97
July 3.89 3.42 3.97
August 3.79 3.32 3.87
September 3.74 3.23 3.83
October 3.74 3.23 3.83
November 3.74 3.23 3.83
December 3.74 3.22 3.83
January 3.74 3.22 3.83
February 3.74 3.22 3.83
Total 46.58 40.70 47.60

 

*Assumes shares were purchased and held for the entire accrual period. Since
dividends accrue daily, your actual distributions will vary depending on the date
you purchased your shares and any account activity. All Fund distributions will vary
depending upon current market conditions, and past distributions are not indicative
of future trends.

1. Dividends are generally subject to state and local taxes, if any. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable.
Distributions of capital gains are generally taxable. To avoid imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors
must be properly certified on Form W-9 and non-U.S. investors on Form W-8BEN.
2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).
The SOI begins on page 95.

franklintempleton.com

Annual Report

| 25


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms Standard & Poor’s, Moody’s Investors Service and Fitch Ratings downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities.

In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even further. The Fund is not required to sell securities that have been downgraded to below investment grade, and may invest in municipal securities in any rating category. Rating actions combined with news related to the commonwealth’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period.

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
Utilities 20.5 %
Transportation 17.5 %
Hospital & Health Care 16.6 %
Tax-Supported 9.4 %
General Obligation 9.2 %
Refunded 7.7 %
Subject to Government Appropriations 6.2 %
Corporate-Backed 5.1 %
Other Revenue 4.5 %
Higher Education 2.2 %
Housing 1.1 %

 

*Does not include short-term investments and other net assets.

The Fund continued to seek high, current, tax-free income for its shareholders during the reporting period. Consistent with our strategy, the Fund did not use leverage or credit derivatives to boost short-term returns, and we were careful to not overexpose the portfolio to any one credit sector.

Thank you for your continued participation in Franklin High Yield Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

26 | Annual Report

franklintempleton.com


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FRHIX) $ 10.68 $ 10.15 +$ 0.53
C (FHYIX) $ 10.86 $ 10.31 +$ 0.55
Advisor (FHYVX) $ 10.72 $ 10.18 +$ 0.54
 
 
Distributions (3/1/14–2/28/15)            
                    Dividend
Share Class   Income        
A $ 0.4658        
C $ 0.4070        
Advisor $ 0.4760        

 

franklintempleton.com

Annual Report

| 27


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 4.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class   Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.63 %
1-Year + 9.99 % + 5.32 % + 5.16 %    
5-Year + 35.14 % + 5.30 % + 5.29 %    
10-Year + 62.72 % + 4.53 % + 4.58 %    
C                   1.18 %
1-Year + 9.43 % + 8.43 % + 8.25 %    
5-Year + 31.51 % + 5.63 % + 5.60 %    
10-Year + 54.17 % + 4.42 % + 4.47 %    
Advisor5                   0.53 %
1-Year + 10.16 % + 10.16 % + 9.99 %    
5-Year + 35.80 % + 6.31 % + 6.30 %    
10-Year + 64.20 % + 5.08 % + 5.14 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   4.03 %   7.12 %   2.53 % 4.47 %
C   3.56 %   6.29 %   2.13 % 3.76 %
Advisor   4.29 %   7.58 %   2.73 % 4.82 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

28 | Annual Report

franklintempleton.com


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.


franklintempleton.com

Annual Report

| 29


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share
price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to
a rise in interest rates, the Fund’s share price may decline. Investments in lower rated bonds include higher risk of default and loss of principal. The Fund holds
a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the
Fund’s share price to decline. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may
affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hos-
pitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is
actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a
description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 1/3/06, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 1/3/06, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 1/3/06, actual Advisor Class performance is used reflecting all
charges and fees applicable to that class. Since 1/3/06 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were +57.85%
and +5.11%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share on
2/28/15.
7. Taxable equivalent distribution rate and yield assume the 2015 maximum federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index is a market value-weighted index engineered for the long-term tax-exempt bond market. To be included in the
index, bonds must be fixed rate, have at least one year to final maturity and be rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies:
Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

30 | Annual Report

franklintempleton.com


 

FRANKLIN HIGH YIELD TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,035.80 $ 3.23
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.62 $ 3.21
C            
Actual $ 1,000 $ 1,032.30 $ 6.00
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.89 $ 5.96
Advisor            
Actual $ 1,000 $ 1,036.20 $ 2.73
Hypothetical (5% return before expenses) $ 1,000 $ 1,022.12 $ 2.71

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.64%; C: 1.19%; and Advisor:
0.54%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

franklintempleton.com

Annual Report

| 31


 

Franklin Insured Tax-Free Income Fund

We are pleased to bring you Franklin Insured Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015. The Fund closed to all new investments (other than reinvestment of dividends or capital gains distributions) at the close of the market on March 1, 2013.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its total assets in securities that pay interest free from such taxes.1 The Fund invests predominantly in insured municipal securities.2

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 0.92 %
AA 84.17 %
A 6.39 %
BBB 1.57 %
Refunded 5.13 %
Not Rated 1.82 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $12.02 on February 28, 2014, to $12.58 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 49.32 cents per share for the same period.3 The Performance Summary beginning on page 34 shows that at the

end of this reporting period the Fund’s Class A shares’ distribution rate was 3.61%, based on an annualization of the 3.95 cent per share February dividend and the maximum offering price of $13.14 on February 28, 2015. An investor in the 2015 maximum federal income tax bracket of 43.40% (including 3.8% Medicare tax) would need to earn a distribution rate of 6.38% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

                   Dividend per Share                 (cents)
Month Class A Class C Advisor Class
March 4.12 3.55 4.21
April 4.12 3.55 4.21
May 4.17 3.60 4.26
June 4.17 3.60 4.26
July 4.17 3.60 4.26
August 4.17 3.60 4.26
September 4.20 3.62 4.30
October 4.15 3.57 4.25
November 4.05 3.47 4.15
December 4.05 3.45 4.15
January 4.00 3.40 4.10
February 3.95 3.35 4.05
Total 49.32 42.36 50.46

 

*Assumes shares were purchased and held for the entire accrual period. Since dividends accrue daily, your actual distributions will vary depending on the date you purchased your shares and any account activity. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

1. Dividends are generally subject to state and local taxes, if any. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable. Distributions of capital gains are generally taxable. To avoid imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors must be properly certified on Form W-9 and non-U.S. investors on Form W-8BEN.

2. Fund shares are not insured by any U.S. or other government agency. They are subject to market risks and will fluctuate in value. 3. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).

The SOI begins on page 121.

32 | Annual Report

franklintempleton.com


 

FRANKLIN INSURED TAX-FREE INCOME FUND

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms Standard & Poor’s, Moody’s Investors Service and Fitch Ratings downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities.

In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even further. The Fund is not required to sell securities that have been downgraded to below investment grade, but it is prohibited from making further purchases of such securities as long as the securities are not rated investment grade by at least one U.S. nationally recognized rating service. Rating actions combined with news related to the commonwealth’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period. Puerto Rico bonds held in the Fund are insured by Assured Guaranty Municipal, which is rated AA by S&P and A2 by Moody’s.

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
Hospital & Health Care 18.2 %
Utilities 16.3 %
Subject to Government Appropriations 15.6 %
Transportation 14.0 %
General Obligation 13.8 %
Higher Education 7.1 %
Refunded 5.9 %
Tax-Supported 4.5 %
Other Revenue 4.1 %
Housing 0.5 %

 

*Does not include short-term investments and other net assets.

During the reporting period, the Fund also held various Detroit general obligation and Department of Water and Sewer bonds. In light of the fact that both types of bonds are at least partially included in the City’s plan of adjustment under Chapter 9 bankruptcy, it is important to note that all the Detroit general obligation bonds and Department of Water and Sewer bonds held in the Fund are insured. Municipal bond insurance guarantees the timely payment of principal and interest of the insured bond. The City of Detroit officially emerged from bankruptcy on December 10, 2014. During the period, we held insured bonds that were impaired by the bankruptcy, but because they were insured, the Fund was paid in full and we have since sold them. None of the bonds held by the Fund at period-end were impaired by the bankruptcy.

Since the 2008 financial crisis, insurance penetration in the municipal bond market has greatly decreased, with fewer qualified bond insurers (rated BBB or better) offering insurance on new issues of municipal securities. These circumstances led to a decrease in the supply of insured municipal securities and a consolidation among municipal bond insurers, thereby concentrating the insurance company credit risk with respect to securities in the Fund’s portfolio among fewer municipal bond insurers. Accordingly, effective at the close of the market on March 1, 2013, the Fund was closed to all new investments (other than reinvestment of dividends or capital gains distributions).

Thank you for your continued participation in Franklin Insured Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

franklintempleton.com

Annual Report

| 33


 

FRANKLIN INSURED TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FTFIX) $ 12.58 $ 12.02 +$ 0.56
C (FRITX) $ 12.76 $ 12.18 +$ 0.58
Advisor (FINZX) $ 12.58 $ 12.01 +$ 0.57
 
 
Distributions (3/1/14–2/28/15)            
Dividend
Share Class   Income        
A $ 0.4932        
C $ 0.4236        
Advisor $ 0.5046        

 

34 | Annual Report

franklintempleton.com


 

FRANKLIN INSURED TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 4.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class   Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.61 %
1-Year + 8.91 % + 4.31 % + 4.03 %    
5-Year + 29.26 % + 4.35 % + 4.37 %    
10-Year + 54.22 % + 3.98 % + 4.06 %    
C                   1.16 %
1-Year + 8.36 % + 7.36 % + 7.06 %    
5-Year + 25.85 % + 4.70 % + 4.72 %    
10-Year + 46.22 % + 3.87 % + 3.95 %    
Advisor5                   0.51 %
1-Year + 9.10 % + 9.10 % + 8.80 %    
5-Year + 29.90 % + 5.37 % + 5.39 %    
10-Year + 55.23 % + 4.50 % + 4.58 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   3.61 %   6.38 %   1.46 % 2.58 %
C   3.15 %   5.57 %   1.02 % 1.80 %
Advisor   3.86 %   6.82 %   1.62 % 2.86 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

franklintempleton.com

Annual Report

| 35


 

FRANKLIN INSURED TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.


36 | Annual Report

franklintempleton.com


 

FRANKLIN INSURED TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. The Fund holds a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the Fund’s share price to decline. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 7/1/08, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 7/1/08, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 7/1/08, actual Advisor Class performance is used reflecting all
charges and fees applicable to that class. Since 7/1/08 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were +40.51%
and +5.24%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share on
2/28/15.
7. Taxable equivalent distribution rate and yield assume the 2015 maximum federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index is a market value-weighted index engineered for the long-term tax-exempt bond market. To be included in the
index, bonds must be fixed rate, have at least one year to final maturity and be rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies:
Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 37


 

FRANKLIN INSURED TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,037.00 $ 3.08
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.77 $ 3.06
C            
Actual $ 1,000 $ 1,034.40 $ 5.90
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.99 $ 5.86
Advisor            
Actual $ 1,000 $ 1,037.50 $ 2.63
Hypothetical (5% return before expenses) $ 1,000 $ 1,022.22 $ 2.61

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.61%; C: 1.17%; and Advisor: 0.52%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

38 | Annual Report

franklintempleton.com


 

Franklin Massachusetts Tax-Free Income Fund

We are pleased to bring you Franklin Massachusetts Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal and Massachusetts personal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its total assets in securities that pay interest free from such taxes.1

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 5.88 %
AA 77.60 %
A 14.10 %
Refunded 2.42 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $11.42 on February 28, 2014, to $11.93 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 42.38 cents per share for the same period.2 The Performance Summary beginning on page 42 shows that at the end of this reporting period the Fund’s Class A shares’ distribution rate was 3.22%, based on an annualization of the 3.34 cent per share February dividend and the maximum offering price

of $12.46 on February 28, 2015. An investor in the 2015 maximum combined effective federal and Massachusetts personal income tax bracket of 46.54% (including 3.8% Medicare tax) would need to earn a distribution rate of 6.02% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

           Dividend per Share               (cents)
Month Class A Class C Advisor Class
March 3.59 3.06 3.69
April 3.59 3.06 3.69
May 3.66 3.13 3.76
June 3.66 3.13 3.75
July 3.66 3.13 3.75
August 3.58 3.05 3.67
September 3.46 2.91 3.56
October 3.46 2.91 3.56
November 3.46 2.91 3.56
December 3.46 2.89 3.55
January 3.46 2.89 3.55
February 3.34 2.77 3.43
Total 42.38 35.84 43.52

 

*Assumes shares were purchased and held for the entire accrual period. Since
dividends accrue daily, your actual distributions will vary depending on the date
you purchased your shares and any account activity. All Fund distributions will vary
depending upon current market conditions, and past distributions are not indicative
of future trends.

1. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable. Distributions of capital gains are generally taxable. To avoid
imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors must be properly certified on Form W-9 and non-U.S. investors
on Form W-8BEN.
2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).
The SOI begins on page 134.

franklintempleton.com

Annual Report

| 39


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

Commonwealth Update

During the 12 months under review, Massachusetts experienced relatively steady economic growth that outpaced the nation’s. With its labor market performing well, the commonwealth continued to enjoy high per-capita personal income levels and a solid income growth rate. For the reporting period, Massachusetts gained jobs in most sectors, led by professional and business services, government, and education and health services. This positive employment trend led the commonwealth’s unemployment rate to decline from 6.5% in February 2014 to 4.9% at period-end, which was lower than the 5.5% national rate.3

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
Higher Education 25.9 %
Transportation 13.1 %
Tax-Supported 12.3 %
Hospital & Health Care 11.0 %
Other Revenue 10.5 %
Housing 10.0 %
General Obligation 8.7 %
Utilities 5.2 %
Refunded 3.3 %

 

*Does not include short-term investments and other net assets.

The commonwealth has a generally structurally balanced budget with good reserves, according to independent credit rating agency Standard & Poor’s (S&P). Massachusetts ended its fiscal year 2014 on June 30 with higher-than-projected revenues as higher tax settlements and bonus payments offset lower income tax payments. Although the budget stability fund (BSF) at fiscal year-end 2014 decreased from the prior fiscal year, the reduction was less than budgeted. The enacted fiscal year 2015 budget included spending increases in education and transportation. It also continued to expand Medicaid under the Affordable Care Act, although the commonwealth expected federal funds and cost-control measures to offset expansion costs. The commonwealth’s mid-fiscal year updated budget projection identified a potential gap resulting from lower-than-expected revenues, which the governor proposed to bridge largely through spending cuts.

Massachusetts’s debt levels ranked among the nation’s highest, with net tax-supported debt at 9.0% of personal income and $4,999 per capita, compared with the 2.6% and $1,054 national medians.4 In issuing a rating of AA+ and a stable outlook on Massachusetts’s general obligation bonds, S&P cited the commonwealth’s strong budget performance, including a focus on structural solutions to maintain budget balance; ongoing progress in improving financial, debt and budget management; and healthy BSF balance.5 Furthermore, S&P cited the commonwealth’s diverse economy, high wealth and income levels, and active management of postretirement liabilities. However, S&P viewed the commonwealth’s high debt level and large unfunded pension and other postemployment liabilities as mitigating considerations. The stable outlook reflected S&P’s expectation that Massachusetts would continue to proactively manage and improve the structural alignment of its budget.

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms S&P, Moody’s Investors Service and Fitch Ratings downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities. In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even further. The Fund is not required to sell securities that have been downgraded to below investment grade, but it is prohibited from making further purchases of such securities as long as the securities are not rated investment grade by at least one U.S. nationally recognized rating service. Rating actions combined with news related to Puerto Rico’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period. We eliminated the Fund’s small exposure to Puerto Rico during the 12 months under review.

3. Source: Bureau of Labor Statistics.

4. Source: Moody’s Investors Service, 2014 State Debt Medians: Appetite for Borrowing Remains Weak, 5/22/14.

5. This does not indicate S&P’s rating of the Fund.

40 | Annual Report

franklintempleton.com


 

Thank you for your continued participation in Franklin Massachusetts Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

franklintempleton.com

Annual Report

| 41


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FMISX) $ 11.93 $ 11.42 +$ 0.51
C (FMAIX) $ 12.06 $ 11.53 +$ 0.53
Advisor (N/A) $ 11.93 $ 11.41 +$ 0.52
 
 
Distributions (3/1/14–2/28/15)            
Dividend
Share Class   Income        
A $ 0.4238        
C $ 0.3584        
Advisor $ 0.4352        

 

42 | Annual Report

franklintempleton.com


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 4.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class   Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.66 %
1-Year + 8.28 % + 3.65 % + 3.45 %    
5-Year + 24.27 % + 3.55 % + 3.58 %    
10-Year + 48.59 % + 3.59 % + 3.66 %    
C                   1.21 %
1-Year + 7.79 % + 6.79 % + 6.46 %    
5-Year + 20.95 % + 3.88 % + 3.89 %    
10-Year + 40.76 % + 3.48 % + 3.54 %    
Advisor5                   0.56 %
1-Year + 8.48 % + 8.48 % + 8.16 %    
5-Year + 24.89 % + 4.55 % + 4.58 %    
10-Year + 49.42 % + 4.10 % + 4.17 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   3.22 %   6.02 %   1.45 % 2.71 %
C   2.76 %   5.16 %   1.01 % 1.89 %
Advisor   3.45 %   6.45 %   1.62 % 3.03 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

franklintempleton.com

Annual Report

| 43


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.



44 | Annual Report

franklintempleton.com


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Because the Fund invests principally in a single state, it is subject to greater risk of adverse economic and regulatory changes in that state than a geographically diversified fund. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 7/1/09, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 7/1/09, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 7/1/09, actual Advisor Class performance is used reflecting all
charges and fees applicable to that class. Since 7/1/09 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were +34.50%
and +5.37%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share on
2/28/15.
7. Taxable equivalent distribution rate and yield assume the published rates as of 12/29/14 for the maximum combined effective federal and Massachusetts personal income
tax rate of 46.54%, based on the federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index is a market value-weighted index engineered for the long-term tax-exempt bond market. To be included in the
index, bonds must be fixed rate, have at least one year to final maturity and be rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies:
Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 45


 

FRANKLIN MASSACHUSETTS TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribution and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,026.00 $ 3.37
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.47 $ 3.36
C            
Actual $ 1,000 $ 1,022.90 $ 6.12
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.74 $ 6.11
Advisor            
Actual $ 1,000 $ 1,026.50 $ 2.86
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.97 $ 2.86

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.67%; C: 1.22%; and Advisor: 0.57%), multiplied by the average account value over the period, multiplied 181/365 to reflect the one-half year period.

46 | Annual Report

franklintempleton.com


 

Franklin New Jersey Tax-Free Income Fund

We are pleased to bring you Franklin New Jersey Tax-Free Income Fund’s annual report for the fiscal year ended February 28, 2015.

Your Fund’s Goal and Main Investments

The Fund seeks to provide as high a level of income exempt from federal and New Jersey personal income taxes as is consistent with prudent investment management and preservation of capital by investing at least 80% of its net assets in securities that pay interest free from such taxes.1

Credit Quality Breakdown*

2/28/15

  % of Total  
Ratings Long-Term Investments  
AAA 7.13 %
AA 42.75 %
A 37.46 %
BBB 3.92 %
Below Investment Grade 4.55 %
Refunded 4.19 %

 

*Securities, except for those labeled Not Rated, are assigned ratings by one or more Nationally Recognized Statistical Credit Rating Organizations (NRSROs), such as Standard & Poor’s, Moody’s and Fitch, that can be considered by the investment manager as part of its independent securities analysis. When ratings from multiple agencies are available, the highest is used, consistent with the portfolio investment process. Ratings reflect an NRSRO’s opinion of an issuer’s creditworthiness and typically range from AAA or Aaa (highest) to D (lowest). The Below Investment Grade category consists of bonds rated below BBB-. The Refunded category generally consists of refunded bonds secured by U.S. government or other high-quality securities. The Not Rated category consists of ratable securities that have not been rated by an NRSRO. Cash and equivalents (defined as bonds with stated maturities, or redemption features, of seven days or less), as well as short-term bonds (defined as bonds maturing in more than seven days but less than one year), are excluded from this breakdown.

Performance Overview

The Fund’s Class A share price, as measured by net asset value, increased from $11.76 on February 28, 2014, to $11.95 on February 28, 2015. The Fund’s Class A shares paid dividends totaling 47.67 cents per share for the same period.2 The Performance Summary beginning on page 50 shows that at the end of this reporting period the Fund’s Class A shares’ distribution rate was 3.76%, based on an annualization of the 3.91 cent per share February dividend and the maximum offering price of $12.48 on February 28, 2015. An investor in the 2015 maximum combined effective federal and New Jersey personal income tax bracket of 48.82% (including 3.8% Medicare tax) would need to earn a distribution rate of 7.35% from a taxable investment to match the Fund’s Class A tax-free distribution rate. For the Fund’s Class C and Advisor shares’ performance, please see the Performance Summary. Dividend distributions were affected by lower interest rates during the period. This and other factors resulted in reduced income for the portfolio and caused dividends to be lower at the end of the period.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. Please visit franklintempleton.com or call (800) 342-5236 for most recent month-end performance.

Dividend Distributions*

3/1/14–2/28/15

          Dividend per Share              (cents)
Month Class A Class C Advisor Class
March 4.06 3.54 4.16
April 4.06 3.54 4.16
May 4.06 3.54 4.16
June 4.09 3.55 4.19
July 4.09 3.55 4.19
August 3.99 3.45 4.09
September 3.92 3.36 4.02
October 3.86 3.30 3.96
November 3.86 3.30 3.96
December 3.86 3.28 3.96
January 3.91 3.33 4.01
February 3.91 3.33 4.01
Total 47.67 41.07 48.87

 

*Assumes shares were purchased and held for the entire accrual period. Since dividends accrue daily, your actual distributions will vary depending on the date you purchased your shares and any account activity. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

1. For state personal income taxes, the 80% minimum is measured by total Fund assets. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable. Distributions of capital gains are generally taxable. To avoid imposition of 28% backup withholding on all Fund distributions and redemption proceeds, U.S. investors must be properly certified on Form W-9 and non-U.S. investors on Form W-8BEN.

2. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI).

The SOI begins on page 139.

franklintempleton.com

Annual Report

| 47


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND

State Update

New Jersey’s broad, diverse economy grew at a slower pace than the nation’s during the 12 months under review, as the state’s housing market and employment growth remained relatively weak. The state gained jobs for the 12-month period, driven by its largest employment sectors — trade, transportation and utilities; and education and health services — which helped offset losses in some other sectors. New Jersey’s unemployment rate declined from 7.0% in February 2014 to 6.4% at period-end, which was higher than the 5.5% national average.3 Internet retailer Amazon’s development of two distribution centers in the state, combined with several large public and private construction projects, would create new employment opportunities that could mitigate the negative effects of four Atlantic City casinos’ closures and Merck & Co.’s workforce reduction. Despite recent challenges, New Jersey maintained high per-capita state product and wealth levels.

The state experienced a larger-than-expected fiscal year 2014 revenue shortfall that, combined with other revenue and spending adjustments, created a significant fiscal year 2015 budget gap. To help bridge the gap, the governor severely reduced the state’s pension contribution, which a state court later overturned in February. The governor also vetoed the legislature’s approved personal and business tax increases. Additionally, the enacted budget closed certain tax loopholes and used other nonrecurring measures such as pension payment deferrals, debt restructurings and legal settlements to increase revenues. The budget’s small projected surplus, according to independent credit rating agency Standard & Poor’s (S&P), limits the state’s flexibility to deal with future revenue shortfalls or increase expenditures.

New Jersey’s debt levels remained among the nation’s highest, with net tax-supported debt at 7.3% of personal income and $3,989 per capita, compared with the 2.6% and $1,054 national medians.4 During the 12-month period, S&P, Moody’s Investors Service and Fitch Ratings downgraded their AA-/Aa3 ratings on the state’s general obligation debt.5 Reasons cited for the downgrades included the state’s ongoing structurally imbalanced budgets; large, growing pension costs and other postemployment benefit obligations; and weakened financial position. After lowering its rating on New Jersey’s general obligation debt twice during the period, in February, S&P maintained its A rating and stable outlook on the state’s general obligation debt, citing the same concerns for the earlier downgrade.5 Conversely, S&P cited the state’s diverse economy and high wealth and income levels as credit strengths. The outlook reflected S&P’s expectation that New Jersey would fulfill its debt obligations despite a likelihood of continued structurally imbalanced budgets.

Portfolio Breakdown

2/28/15

  % of Total  
  Long-Term Investments*  
Higher Education 20.0 %
Transportation 19.1 %
Hospital & Health Care 15.9 %
Subject to Government Appropriations 15.6 %
Refunded 9.0 %
Other Revenue 6.7 %
Utilities 5.7 %
Tax-Supported 4.9 %
Housing 2.3 %
General Obligation 0.8 %

 

*Does not include short-term investments and other net assets.

Manager’s Discussion

We used various investment strategies during the 12 months under review as we sought to maximize tax-free income for shareholders. Puerto Rico’s municipal bond market is widely traded because of its federal and state tax-exemption advantages. Shortly before the reporting period began, credit rating firms S&P, Moody’s and Fitch downgraded their respective ratings of Puerto Rico’s general obligation debt to below investment grade, along with the ratings of certain related Puerto Rico issuers. Additionally, each rating agency maintained a negative outlook on certain Puerto Rico issuers. After Puerto Rico enacted legislation in June related to bankruptcy protection for public corporations, the rating agencies further downgraded ratings of Puerto Rico and many of its public corporations and authorities. In February 2015, after a federal judge ruled the legislation unconstitutional, the rating agencies downgraded Puerto Rico’s general obligation bond rating even

3. Source: Bureau of Labor Statistics.

4. Source: Moody’s Investors Service, 2014 State Debt Medians: Appetite for Borrowing Remains Weak, 5/22/14.

5. These do not indicate ratings of the Fund.

48 | Annual Report

franklintempleton.com


 

further. The Fund is not required to sell securities that have been downgraded to below investment grade, but it is prohibited from making further purchases of such securities as long as the securities are not rated investment grade by at least one U.S. nationally recognized rating service. Rating actions combined with news related to the commonwealth’s financial position and future financing endeavors caused the Puerto Rico bond market to experience volatility during the reporting period.

Thank you for your continued participation in Franklin New Jersey Tax-Free Income Fund. We believe our conservative, buy-and-hold investment strategy can help us achieve high, current, tax-free income for shareholders.

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND

The foregoing information reflects our analysis, opinions and portfolio holdings as of February 28, 2015, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, state, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

franklintempleton.com

Annual Report

| 49


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND

Performance Summary as of February 28, 2015

Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses of each class. Capital gain distributions are net profits realized from the sale of portfolio securities. The performance tables and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses.

Net Asset Value            
Share Class (Symbol)   2/28/15   2/28/14   Change
A (FRNJX) $ 11.95 $ 11.76 +$ 0.19
C (FNIIX) $ 12.09 $ 11.89 +$ 0.20
Advisor (FNJZX) $ 11.96 $ 11.77 +$ 0.19
 
 
Distributions (3/1/14–2/28/15)            
Dividend
Share Class   Income        
A $ 0.4767        
C $ 0.4107        
Advisor $ 0.4887        

 

50 | Annual Report

franklintempleton.com


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Performance as of 2/28/15

Cumulative total return excludes sales charges. Average annual total returns include maximum sales charges. Class A: 4.25% maximum initial sales charge; Class C: 1% contingent deferred sales charge in first year only; Advisor Class: no sales charges.

    Cumulative     Average Annual     Average Annual   Total Annual  
Share Class                                                    Total Return1     Total Return2     Total Return (3/31/15)3   Operating Expenses4  
A                   0.63 %
1-Year + 5.75 % + 1.28 % + 1.08 %    
5-Year + 21.95 % + 3.15 % + 3.10 %    
10-Year + 48.70 % + 3.60 % + 3.64 %    
C                   1.18 %
1-Year + 5.20 % + 4.20 % + 4.01 %    
5-Year + 18.59 % + 3.47 % + 3.42 %    
10-Year + 40.80 % + 3.48 % + 3.52 %    
Advisor5                   0.53 %
1-Year + 5.86 % + 5.86 % + 5.76 %    
5-Year + 22.65 % + 4.17 % + 4.11 %    
10-Year + 49.79 % + 4.12 % + 4.17 %    
 
 
    Distribution     Taxable Equivalent     30 -Day Taxable Equivalent 30-Day  
Share Class   Rate6     Distribution Rate7     Standardized Yield8   Standardized Yield7  
A   3.76 %   7.35 %   1.86 % 3.63 %
C   3.31 %   6.47 %   1.44 % 2.81 %
Advisor   4.02 %   7.85 %   2.03 % 3.97 %

 

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

franklintempleton.com

Annual Report

| 51


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment

Total return represents the change in value of an investment over the periods shown. It includes any applicable maximum sales charge, Fund expenses, account fees and reinvested distributions. The unmanaged index includes reinvestment of any income or distributions. It differs from the Fund in composition and does not pay management fees or expenses. One cannot invest directly in an index.


52 | Annual Report

franklintempleton.com


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND
PERFORMANCE SUMMARY

Total Return Index Comparison for a Hypothetical $10,000 Investment (continued)


All investments involve risks, including possible loss of principal. Because municipal bonds are sensitive to interest rate movements, the Fund’s yield and share price will fluctuate with market conditions. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Because the Fund invests principally in a single state, it is subject to greater risk of adverse economic and regulatory changes in that state than a geographically diversified fund. The Fund holds a small portion of its assets in Puerto Rico municipal bonds that have been impacted by recent adverse economic and market changes, which may cause the Fund’s share price to decline. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. The Fund may invest a significant part of its assets in municipal securities that finance similar types of projects, such as utilities, hospitals, higher education and transportation. A change that affects one project would likely affect all similar projects, thereby increasing market risk. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results. The Fund’s prospectus also includes a description of the main investment risks.

Class C: These shares have higher annual fees and expenses than Class A shares.

Advisor Class: Shares are available to certain eligible investors as described in the prospectus.

1. Cumulative total return represents the change in value of an investment over the periods indicated.
2. Average annual total return represents the average annual change in value of an investment over the periods indicated.
3. In accordance with SEC rules, we provide standardized average annual total return information through the latest calendar quarter.
4. Figures are as stated in the Fund’s current prospectus. In periods of market volatility, assets may decline significantly, causing total annual Fund operating expenses to
become higher than the figures shown.
5. Effective 7/1/08, the Fund began offering Advisor Class shares, which do not have sales charges or a Rule 12b-1 plan. Performance quotations for this class reflect the
following methods of calculation: (a) For periods prior to 7/1/08, a restated figure is used based upon the Fund’s Class A performance, excluding the effect of Class A’s
maximum initial sales charge, but reflecting the effect of the Class A Rule 12b-1 fees; and (b) for periods after 7/1/08, actual Advisor Class performance is used reflecting all
charges and fees applicable to that class. Since 7/1/08 (commencement of sales), the cumulative and average annual total returns of Advisor Class shares were +34.36%
and +4.53%.
6. Distribution rate is based on an annualization of the respective class’s February dividend and the maximum offering price (NAV for Classes C and Advisor) per share on
2/28/15.
7. Taxable equivalent distribution rate and yield assume the published rates as of 12/29/14 for the maximum combined effective federal and New Jersey personal income
tax rate of 48.82%, based on the federal income tax rate of 39.60% plus 3.8% Medicare tax.
8. The 30-day standardized yield for the month ended 2/28/15 reflects an estimated yield to maturity (assuming all portfolio securities are held to maturity). It should be
regarded as an estimate of the Fund’s rate of investment income, and it may not equal the Fund’s actual income distribution rate (which reflects the Fund’s past dividends
paid to shareholders) or the income reported in the Fund’s financial statements.
9. Source: Morningstar. The Barclays Municipal Bond Index is a market value-weighted index engineered for the long-term tax-exempt bond market. To be included in the
index, bonds must be fixed rate, have at least one year to final maturity and be rated investment grade (Baa3/BBB- or higher) by at least two of the following agencies:
Moody’s, S&P and Fitch.
10. Source: Bureau of Labor Statistics, bls.gov/cpi. The Consumer Price Index (CPI) is a commonly used measure of the inflation rate.
See www.franklintempletondatasources.com for additional data provider information.

franklintempleton.com

Annual Report

| 53


 

FRANKLIN NEW JERSEY TAX-FREE INCOME FUND

Your Fund’s Expenses

As a Fund shareholder, you can incur two types of costs:

  • Transaction costs, including sales charges (loads) on Fund purchases; and
  • Ongoing Fund costs, including management fees, distribu- tion and service (12b-1) fees, and other Fund expenses. All mutual funds have ongoing costs, sometimes referred to as operating expenses.

The following table shows ongoing costs of investing in the Fund and can help you understand these costs and compare them with those of other mutual funds. The table assumes a $1,000 investment held for the six months indicated.

Actual Fund Expenses

The first line (Actual) for each share class listed in the table provides actual account values and expenses. The “Ending Account Value” is derived from the Fund’s actual return, which includes the effect of Fund expenses.

You can estimate the expenses you paid during the period by following these steps. Of course, your account value and expenses will differ from those in this illustration:

1.      Divide your account value by $1,000.
  If an account had an $8,600 value, then $8,600 ÷ $1,000 = 8.6.
2.      Multiply the result by the number under the heading “Expenses Paid During Period.”
  If Expenses Paid During Period were $7.50, then 8.6 x $7.50 = $64.50.

In this illustration, the estimated expenses paid this period are $64.50.

Hypothetical Example for Comparison with Other Funds

Information in the second line (Hypothetical) for each class in the table can help you compare ongoing costs of investing in the Fund with those of other mutual funds. This information may not be used to estimate the actual ending account balance or expenses you paid during the period. The hypothetical “Ending Account Value” is based on the actual expense ratio for each class and an assumed 5% annual rate of return before expenses, which does not represent the Fund’s actual return. The figure under the heading “Expenses Paid During Period” shows the hypothetical expenses your account would have incurred under this scenario. You can compare this figure with the 5% hypothetical examples that appear in shareholder reports of other funds.

Please note that expenses shown in the table are meant to highlight ongoing costs and do not reflect any transaction costs, such as sales charges. Therefore, the second line for each class is useful in comparing ongoing costs only, and will not help you compare total costs of owning different funds. In addition, if transaction costs were included, your total costs would have been higher. Please refer to the Fund prospectus for additional information on operating expenses.

    Beginning Account   Ending Account   Expenses Paid During
Share Class   Value 9/1/14   Value 2/28/15   Period* 9/1/14–2/28/15
A            
Actual $ 1,000 $ 1,017.10 $ 3.20
Hypothetical (5% return before expenses) $ 1,000 $ 1,021.62 $ 3.21
C            
Actual $ 1,000 $ 1,014.80 $ 5.94
Hypothetical (5% return before expenses) $ 1,000 $ 1,018.89 $ 5.96
Advisor            
Actual $ 1,000 $ 1,018.40 $ 2.70
Hypothetical (5% return before expenses) $ 1,000 $ 1,022.12 $ 2.71

 

*Expenses are calculated using the most recent six-month expense ratio, annualized for each class (A: 0.64%; C: 1.19%; and Advisor: 0.54%), multiplied by the average account value over the period, multiplied by 181/365 to reflect the one-half year period.

54 | Annual Report

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
 
 
Financial Highlights                              
Franklin Double Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 9.72   $ 12.15   $ 12.31   $ 11.12   $ 11.56  
Income from investment operationsb:                              
   Net investment incomec   0.51     0.52     0.49     0.52     0.52  
   Net realized and unrealized gains (losses)   0.18     (2.44 )   (0.18 )   1.20     (0.44 )
Total from investment operations   0.69     (1.92 )   0.31     1.72     0.08  
Less distributions from net investment income   (0.53 )   (0.51 )   (0.47 )   (0.53 )   (0.52 )
Net asset value, end of year $ 9.88   $ 9.72   $ 12.15   $ 12.31   $ 11.12  
 
Total returnd   7.24 %   (16.00 )%   2.58 %   15.85 %   0.56 %
 
Ratios to average net assets                              
Expenses   0.76 %   0.67 %   0.66 %   0.67 %   0.67 %
Net investment income   5.17 %   4.77 %   3.96 %   4.49 %   4.42 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 196,846   $ 282,254   $ 601,374   $ 643,529   $ 523,391  
Portfolio turnover rate   0.42 %   9.95 %   12.60 %   6.73 %   12.85 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 55


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin Double Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 9.77   $ 12.20   $ 12.37   $ 11.17   $ 11.61  
Income from investment operationsb:                              
Net investment incomec   0.45     0.46     0.42     0.46     0.45  
   Net realized and unrealized gains (losses)   0.17     (2.44 )   (0.19 )   1.21     (0.44 )
Total from investment operations   0.62     (1.98 )   0.23     1.67     0.01  
Less distributions from net investment income   (0.47 )   (0.45 )   (0.40 )   (0.47 )   (0.45 )
Net asset value, end of year $ 9.92   $ 9.77   $ 12.20   $ 12.37   $ 11.17  
 
Total returnd   6.53 %   (16.40 )%   1.91 %   15.26 %   (0.01 )%
 
Ratios to average net assets                              
Expenses   1.32 %   1.23 %   1.21 %   1.22 %   1.22 %
Net investment income   4.61 %   4.21 %   3.41 %   3.94 %   3.87 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 37,311   $ 51,180   $ 116,050   $ 116,229   $ 95,163  
Portfolio turnover rate   0.42 %   9.95 %   12.60 %   6.73 %   12.85 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

56 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin Double Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 9.74   $ 12.17   $ 12.33   $ 11.13   $ 11.57  
Income from investment operationsb:                              
Net investment incomec   0.51     0.53     0.50     0.54     0.53  
  Net realized and unrealized gains (losses)   0.17     (2.44 )   (0.17 )   1.20     (0.44 )
Total from investment operations   0.68     (1.91 )   0.33     1.74     0.09  
Less distributions from net investment income   (0.53 )   (0.52 )   (0.49 )   (0.54 )   (0.53 )
Net asset value, end of year $ 9.89   $ 9.74   $ 12.17   $ 12.33   $ 11.13  
 
Total return   7.22 %   (15.90 )%   2.68 %   16.04 %   0.67 %
 
Ratios to average net assets                              
Expenses   0.67 %   0.58 %   0.56 %   0.57 %   0.57 %
Net investment income   5.26 %   4.86 %   4.06 %   4.59 %   4.52 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 5,341   $ 5,355   $ 14,637   $ 13,766   $ 4,104  
Portfolio turnover rate   0.42 %   9.95 %   12.60 %   6.73 %   12.85 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 57


 

  FRANKLIN TAX-FREE TRUST        
 
 
 
 
  Statement of Investments, February 28, 2015        
 
  Franklin Double Tax-Free Income Fund        
      Principal    
      Amount   Value
  Municipal Bonds 84.3%        
  U.S. Territories 84.3%        
  Guam 24.0%        
  Guam Education Financing Foundation COP, 5.00%, 10/01/23 $ 2,500,000 $ 2,596,275
  Guam Government Business Privilege Tax Revenue, Series A,        
  5.25%, 1/01/36   5,000,000   5,645,000
  5.125%, 1/01/42   5,000,000   5,572,750
  Guam Government Hotel Occupancy Tax Revenue, Refunding, Series A, 6.50%, 11/01/40   10,380,000   12,636,508
  Guam Government Limited Obligation Revenue, Section 30, Series A,        
  5.625%, 12/01/29   3,850,000   4,359,779
  5.75%, 12/01/34   8,430,000   9,550,684
  Guam International Airport Authority Revenue, General, Refunding, Series B, AGMC Insured,        
  5.50%, 10/01/33   2,000,000   2,329,480
  5.75%, 10/01/43   3,000,000   3,567,180
  Guam Power Authority Revenue, Refunding, Series A, 5.50%, 10/01/40   10,000,000   11,226,800
          57,484,456
  Puerto Rico 53.1%        
  Children’s Trust Fund Tobacco Settlement Revenue, Asset-Backed, Refunding, 5.50%, 5/15/39   5,000,000   5,011,250
  Puerto Rico Commonwealth GO, Public Improvement, Refunding, Series A, 6.00%, 7/01/40   3,000,000   2,118,810
  Puerto Rico Commonwealth Highways and Transportation Authority Highway Revenue, Series Y,        
Pre-Refunded, 5.50%, 7/01/36   11,850,000   12,677,367
  Puerto Rico Commonwealth Infrastructure Financing Authority Special Tax Revenue, Series B, 5.00%,        
  7/01/37   6,220,000   3,889,366
  Puerto Rico Convention Center District Authority Hotel Occupancy Tax Revenue, Series A,        
  AMBAC Insured, 5.00%, 7/01/31   10,000,000   9,444,800
  Puerto Rico Electric Power Authority Power Revenue, Series XX,        
  5.75%, 7/01/36   15,000,000   8,740,200
  5.25%, 7/01/40   12,750,000   7,267,627
  Puerto Rico HFAR, Capital Fund Modernization Program, Puerto Rico Public Housing Projects,        
  Refunding, 5.125%, 12/01/27   4,250,000   4,541,423
  Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing        
  Authority Educational Facilities Revenue, University Plaza Project, Series A, NATL Insured, 5.00%,        
  7/01/33   5,975,000   5,939,150
  Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing        
  Authority Industrial Revenue,        
  Guaynabo Municipal Government Center Project, 5.625%, 7/01/15   900,000   886,779
  Guaynabo Warehouse for Emergencies Project, Series A, 5.15%, 7/01/19   700,000   603,197
  Guaynabo Warehouse for Emergencies Project, Series A, 5.20%, 7/01/24   4,120,000   3,094,491
  Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing        
  Authority Revenue,        
  Ana G. Mendez University System Project, Refunding, 5.375%, 12/01/21   1,410,000   1,385,974
  Ana G. Mendez University System Project, Refunding, 5.00%, 4/01/27   4,000,000   3,576,360
  Ana G. Mendez University System Project, Refunding, 5.125%, 4/01/32   2,000,000   1,716,620
  Ana G. Mendez University System Project, Refunding, 5.375%, 4/01/42   3,005,000   2,418,304
  Cogeneration Facility, AES Puerto Rico Project, 6.625%, 6/01/26   5,970,000   5,725,349
  Hospital Auxilio Mutuo Obligated Group, Refunding, Series A, 6.00%, 7/01/33   7,050,000   7,487,100
  Inter American University of Puerto Rico Project, NATL Insured, 4.375%, 10/01/25   1,000,000   995,370
  Inter American University of Puerto Rico Project, NATL Insured, 4.50%, 10/01/29   3,750,000   3,737,963
  Puerto Rico Infrastructure Financing Authority Revenue, Ports Authority Project, Series B, 5.25%,        
  12/15/26   8,000,000   5,055,200

 

58 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Double Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
U.S. Territories (continued)        
Puerto Rico (continued)        
Puerto Rico PBA Guaranteed Revenue, Government Facilities, Refunding,        
Series M, 6.25%, 7/01/21 $ 5,000,000 $ 3,793,450
Series P, 6.50%, 7/01/30   5,000,000   3,570,750
Series P, 6.75%, 7/01/36   5,000,000   3,562,600
Puerto Rico Sales Tax FICO Sales Tax Revenue,        
Capital Appreciation, first subordinate, Series A, zero cpn. to 8/01/19, 6.25% thereafter, 8/01/33   7,000,000   3,689,980
first subordinate, Series A, 6.50%, 8/01/44   17,850,000   13,050,670
University of Puerto Rico Revenue, University System, Refunding, Series P, 5.00%, 6/01/24   5,500,000   3,149,465
        127,129,615
U.S. Virgin Islands 7.2%        
Virgin Islands PFAR, Virgin Islands Matching Fund Loan Note,        
Cruzan Project, Series A, 6.00%, 10/01/39   7,250,000   8,189,672
Diageo Project, Series A, 6.75%, 10/01/37   7,700,000   8,979,355
        17,169,027
Total Municipal Bonds (Cost $220,928,922) 84.3%       201,783,098
Other Assets, less Liabilities 15.7%       37,714,545
Net Assets 100.0%     $ 239,497,643

 

See Abbreviations on page 168.      
franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 59

 


 

FRANKLIN TAX-FREE TRUST                              
 
 
Financial Highlights                              
Franklin Federal Intermediate-Term Tax-Free Income Fund                          
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.21   $ 12.59   $ 12.39   $ 11.43   $ 11.59  
Income from investment operationsb:                              
   Net investment incomec   0.32     0.34     0.34     0.38     0.40  
   Net realized and unrealized gains (losses)   0.23     (0.38 )   0.19     0.97     (0.15 )
Total from investment operations   0.55     (0.04 )   0.53     1.35     0.25  
Less distributions from net investment income   (0.32 )   (0.34 )   (0.33 )   (0.39 )   (0.41 )
Net asset value, end of year $ 12.44   $ 12.21   $ 12.59   $ 12.39   $ 11.43  
 
Total returnd   4.58 %   (0.29 )%   4.35 %   12.02 %   2.12 %
 
Ratios to average net assets                              
Expenses   0.68 %   0.65 %   0.65 %   0.66 %   0.66 %
Net investment income   2.59 %   2.81 %   2.71 %   3.23 %   3.45 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 1,828,050   $ 1,747,118   $ 2,252,973   $ 1,832,750   $ 1,492,832  
Portfolio turnover rate   4.10 %   9.30 %   1.81 %   6.01 %   10.11 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

60 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)                    
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.24   $ 12.62   $ 12.42   $ 11.46   $ 11.61  
Income from investment operationsb:                              
Net investment incomec   0.25     0.27     0.27     0.32     0.34  
  Net realized and unrealized gains (losses)   0.24     (0.38 )   0.19     0.97     (0.15 )
Total from investment operations   0.49     (0.11 )   0.46     1.29     0.19  
Less distributions from net investment income   (0.26 )   (0.27 )   (0.26 )   (0.33 )   (0.34 )
Net asset value, end of year $ 12.47   $ 12.24   $ 12.62   $ 12.42   $ 11.46  
 
Total returnd   4.00 %   (0.83 )%   3.77 %   11.38 %   1.63 %
 
Ratios to average net assets                              
Expenses   1.23 %   1.20 %   1.20 %   1.21 %   1.21 %
Net investment income   2.04 %   2.26 %   2.16 %   2.68 %   2.90 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 456,698   $ 453,176   $ 548,013   $ 445,913   $ 357,180  
Portfolio turnover rate   4.10 %   9.30 %   1.81 %   6.01 %   10.11 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 61


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)                    
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.24   $ 12.61   $ 12.41   $ 11.45   $ 11.60  
Income from investment operationsb:                              
Net investment incomec   0.33     0.36     0.35     0.40     0.41  
  Net realized and unrealized gains (losses)   0.24     (0.38 )   0.20     0.96     (0.14 )
Total from investment operations   0.57     (0.02 )   0.55     1.36     0.27  
Less distributions from net investment income   (0.34 )   (0.35 )   (0.35 )   (0.40 )   (0.42 )
Net asset value, end of year $ 12.47   $ 12.24   $ 12.61   $ 12.41   $ 11.45  
 
Total return   4.67 %   (0.11 )%   4.45 %   12.10 %   2.30 %
 
Ratios to average net assets                              
Expenses   0.58 %   0.55 %   0.55 %   0.56 %   0.56 %
Net investment income   2.69 %   2.91 %   2.81 %   3.33 %   3.55 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 2,285,627   $ 1,798,459   $ 1,146,322   $ 792,857   $ 435,837  
Portfolio turnover rate   4.10 %   9.30 %   1.81 %   6.01 %   10.11 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.

62 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

Statement of Investments, February 28, 2015        
 
Franklin Federal Intermediate-Term Tax-Free Income Fund        
    Principal    
    Amount   Value
Municipal Bonds 92.5%        
Alabama 2.4%        
Alabama State Public School and College Authority Revenue, Capital Improvement, Refunding,        
Series A, 5.00%, 5/01/19 $ 7,750,000 $ 8,947,761
Series B, 5.00%, 1/01/27   25,000,000   30,169,000
Chatom IDB Gulf Opportunity Zone Revenue, PowerSouth Energy Cooperative, Refunding, Series A,        
Assured Guaranty, 5.00%,        
8/01/20   3,535,000   4,066,204
8/01/21   3,535,000   4,113,432
8/01/22   3,535,000   4,095,651
East Alabama Health Care Authority Health Care Facilities Revenue, Mandatory Put 9/01/18,        
Series A, 5.25%, 9/01/36   10,000,000   10,994,900
Series B, 5.50%, 9/01/33   13,500,000   14,955,840
Huntsville Health Care Authority Revenue, Series A, NATL Insured, Pre-Refunded, 5.00%, 6/01/17   2,900,000   2,933,814
Jefferson County GO, Capital Improvement wts., Series A, NATL Insured, 5.00%, 4/01/17   2,195,000   2,195,417
Jefferson County Revenue, Limited Obligation School wts., Series A, 5.25%, 1/01/16   2,000,000   2,027,560
Shelby County Board of Education Revenue, Capital Outlay School wts., 5.00%,        
2/01/22   5,250,000   6,104,385
2/01/23   5,520,000   6,405,022
2/01/24   5,055,000   5,868,501
2/01/25   5,920,000   6,872,706
        109,750,193
Alaska 0.1%        
Matanuska-Susitna Borough Lease Revenue, Goose Creek Correctional Center Project,        
Assured Guaranty, 5.00%, 9/01/19   3,650,000   4,201,187
Arizona 5.3%        
Arizona Health Facilities Authority Revenue, Banner Health,        
Series A, 5.00%, 1/01/22   8,000,000   8,610,480
Series D, 5.50%, 1/01/22   5,000,000   5,598,300
Series D, 5.00%, 1/01/23   5,000,000   5,511,400
Arizona School Facilities Board COP,        
5.25%, 9/01/19   10,000,000   11,391,900
Refunding, Series A-3, Assured Guaranty, 5.00%, 9/01/19   16,185,000   18,667,132
Arizona State Board of Regents Arizona State University System Revenue, Series C, 5.75%,        
7/01/20   500,000   575,340
7/01/21   500,000   575,165
Arizona State COP, Department of Administration,        
Series A, AGMC Insured, 5.00%, 10/01/19   5,650,000   6,570,103
Series A, AGMC Insured, 5.25%, 10/01/21   10,000,000   11,522,700
Series A, AGMC Insured, 5.25%, 10/01/22   40,910,000   46,733,129
Series B, AGMC Insured, 5.00%, 10/01/20   14,860,000   17,132,837
Arizona State Health Facilities Authority Hospital Revenue, Phoenix Children’s Hospital, Refunding,        
Series A, 5.00%, 2/01/27   6,000,000   6,751,500
Arizona State Transportation Board Highway Revenue,        
Refunding, 5.00%, 7/01/29   10,920,000   13,037,497
Subordinated, Refunding, Series A, 5.00%, 7/01/24   5,000,000   5,955,650
Subordinated, Refunding, Series A, 5.00%, 7/01/25   5,000,000   5,949,050
Arizona Water Infrastructure Finance Authority Water Quality Revenue, Refunding, Series A, 5.00%,        
10/01/26   15,000,000   18,520,650
Glendale IDA Hospital Revenue, John C. Lincoln Health Network, Series B, Pre-Refunded, 5.00%,        
12/01/18   5,605,000   5,802,576
Maricopa County Hospital Revenue, Sun Health Corp., Pre-Refunded, 5.00%, 4/01/18   2,000,000   2,007,260
 
 
franklintempleton.com   Annual Report | 63

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Arizona (continued)        
Phoenix Civic Improvement Corp. Airport Revenue, junior lien, Series A, 5.00%,        
7/01/19 $ 1,900,000 $ 2,194,690
7/01/20   1,300,000   1,528,358
7/01/21   4,200,000   4,879,434
Pima County Regional Transportation Excise Tax Revenue, Pima County Regional Transportation        
   Fund, 5.00%,        
6/01/24   3,385,000   4,135,692
6/01/26   7,180,000   8,603,794
Pima County Sewer System Revenue,        
Series A, AGMC Insured, 5.00%, 7/01/24   2,250,000   2,706,030
Series B, 5.00%, 7/01/24   6,030,000   7,127,098
Series B, 5.00%, 7/01/25   4,500,000   5,315,805
Scottsdale IDA Hospital Revenue, Scottsdale Healthcare, Refunding, Series A, 5.00%, 9/01/21   4,000,000   4,490,480
aScottsdale Municipal Property Corp. Excise Tax Revenue, Refunding, 5.00%,        
7/01/26   2,580,000   3,200,825
7/01/27   2,000,000   2,458,600
7/01/28   3,325,000   4,050,149
University Medical Center Corp. Hospital Revenue, Tucson, 6.00%, 7/01/24   2,000,000   2,307,380
        243,911,004
Arkansas 0.2%        
Arkansas State Development Finance Authority Revenue, State Agencies Facilities, Arkansas        
Department of Correction Project, Series B, AGMC Insured, Pre-Refunded, 5.00%,        
11/01/17   1,955,000   2,017,091
11/01/19   1,065,000   1,098,824
Fort Smith Sales and Use Tax Revenue, Refunding and Improvement, 5.00%, 5/01/23   5,000,000   6,032,700
        9,148,615
California 8.7%        
California State GO,        
Refunding, 5.00%, 8/01/21   20,000,000   21,627,200
Refunding, 5.25%, 9/01/25   15,000,000   18,045,150
Refunding, 5.00%, 10/01/25   15,000,000   18,005,550
Various Purpose, 5.50%, 4/01/21   20,000,000   23,602,400
Various Purpose, 5.25%, 10/01/23   25,050,000   30,681,741
Various Purpose, 5.25%, 10/01/24   9,780,000   11,863,238
Various Purpose, 5.25%, 10/01/25   5,000,000   6,027,200
Various Purpose, XLCA Insured, 5.00%, 11/01/22   4,805,000   5,344,121
California State Health Facilities Financing Authority Revenue,        
Catholic Healthcare West, Series L, Pre-Refunded, 5.125%, 7/01/22   5,275,000   5,359,875
Providence Health and Services, Series C, 6.00%, 10/01/18   500,000   585,075
Scripps Health, Series A, 5.00%, 10/01/21   5,000,000   5,679,850
Sutter Health, Refunding, Series B, 5.00%, 8/15/22   4,000,000   4,697,600
Sutter Health, Refunding, Series B, 5.25%, 8/15/23   13,000,000   15,376,270
California State Public Works Board Lease Revenue, Various Capital Projects,        
Series A, 5.00%, 10/01/20   2,000,000   2,353,100
Series A, 5.25%, 10/01/22   3,300,000   4,014,351
Series A, 5.25%, 10/01/23   5,365,000   6,500,395
Series A, 5.25%, 10/01/24   3,000,000   3,616,320
Series A, 5.25%, 10/01/25   3,000,000   3,603,990
Series G, Sub Series G-1, 5.25%, 10/01/18   5,605,000   6,420,303
Series G, Sub Series G-1, 5.25%, 10/01/19   10,000,000   11,758,600
 
64 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
 
  Municipal Bonds (continued)        
  California (continued)        
  California State Public Works Board Lease Revenue, Various Capital Projects, (continued)        
  Series G, Sub Series G-1, 5.00%, 10/01/21 $ 15,055,000 $ 17,397,859
  Series I, 5.00%, 11/01/18   4,000,000   4,551,640
  Series I, 5.25%, 11/01/20   5,000,000   5,862,600
  California Statewide CDA Revenue,        
  Enloe Medical Center, Series A, California Mortgage Insured, 5.25%, 8/15/19   1,990,000   2,257,735
  Enloe Medical Center, Series A, California Mortgage Insured, 5.375%, 8/15/20   1,650,000   1,891,576
  Sutter Health, Refunding, Series A, 5.25%, 8/15/24   4,000,000   4,708,400
  El Dorado Irrigation District COP, Refunding, Series A, Assured Guaranty,        
  5.00%, 8/01/22   2,610,000   2,998,237
  5.25%, 8/01/23   2,860,000   3,315,798
  Livermore-Amador Valley Water Management Agency Sewer Revenue, Refunding, 5.00%,        
  8/01/24   5,660,000   6,680,158
  8/01/25   4,765,000   5,623,844
  Los Angeles Department of Water and Power Revenue, Power System, Refunding,        
  Series A, 5.00%, 7/01/26   11,025,000   13,188,877
  Series B, 5.25%, 7/01/24   17,000,000   19,947,970
  Los Angeles Municipal Improvement Corp. Lease Revenue, Capital Equipment, Refunding, Series A,        
  Assured Guaranty,        
  5.00%, 4/01/17   3,215,000   3,507,661
  5.25%, 4/01/18   2,495,000   2,818,552
  5.25%, 4/01/19   3,180,000   3,701,711
  Los Angeles USD, GO,        
  Election of 2004, Series F, FGIC Insured, Pre-Refunded, 5.00%, 7/01/24   6,700,000   7,117,946
  Election of 2005, Series F, 5.00%, 7/01/22   5,675,000   6,607,232
  Orange County Airport Revenue, 5.00%,        
  7/01/20   3,465,000   4,018,257
  7/01/21   7,545,000   8,725,566
  San Diego Community College District GO, Refunding, 5.00%, 8/01/25   21,370,000   25,698,493
  San Francisco City and County COP, Multiple Capital Improvement Projects, Series A,        
  5.00%, 4/01/25   4,000,000   4,563,280
  5.25%, 4/01/26   2,500,000   2,877,775
  San Jose RDA Tax Allocation, Merged Area, Refunding, Series D, Assured Guaranty, 5.00%,        
  8/01/21   10,000,000   10,946,900
  8/01/22   10,000,000   10,949,400
  Tulare Joint UHSD, GO, Election of 2004, Series A, NATL Insured, 5.00%, 8/01/16   2,870,000   2,936,814
  Tuolumne Wind Project Authority Revenue, Tuolumne Co. Project, Series A, 5.25%, 1/01/23   8,000,000   9,159,120
 
          397,215,730
  Colorado 1.6%        
  Adams County PCR, Public Service Co. of Colorado Project, Refunding, Series A, NATL Insured,        
  4.375%, 9/01/17   17,000,000   17,316,200
  Denver City and County Airport System Revenue, Subordinate, Series B, 5.25%,        
  11/15/26   5,000,000   6,025,250
  11/15/27   4,250,000   5,081,258
  Denver City and County Excise Tax Revenue, Refunding, Series A, AGMC Insured, 5.00%, 9/01/20   10,090,000   11,886,726
E-470 Public Highway Authority Senior Revenue, Series D, Sub Series D-1, NATL Insured, 5.50%,        
  9/01/24   8,000,000   8,194,560
  Public Authority for Colorado Energy Natural Gas Purchase Revenue, 5.75%, 11/15/18   2,935,000   3,167,452
  Regional Transportation District COP, Refunding, Series A, 5.00%, 6/01/26   14,000,000   16,534,560
  Regional Transportation District Sales Tax Revenue, FasTracks Project, Series A, 5.00%, 11/01/25   5,870,000   7,096,008
          75,302,014
 
 
  franklintempleton.com   Annual Report | 65

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)          
        Principal    
        Amount   Value
  Municipal Bonds (continued)          
  Connecticut 1.0%          
  Connecticut State GO, Series E, 5.00%,          
      8/15/25   $ 11,295,000 $ 13,643,343
      8/15/26     18,585,000   22,243,829
  Connecticut State Special Tax Obligation Revenue, Transportation Infrastructure, 5.00%, 1/01/28     10,000,000   11,681,300
            47,568,472
  Florida 7.9%          
  Broward County School Board COP, Master Lease Purchase Agreement, Series A, AGMC Insured,          
Pre-Refunded, 5.00%, 7/01/16     5,915,000   6,007,747
  Broward County Water and Sewer Utility Revenue, Refunding, Series B, 5.00%,          
      10/01/24     6,000,000   7,325,340
      10/01/25     6,325,000   7,702,142
  Citizens Property Insurance Corp. Revenue, High-Risk Account, senior secured, Series A-1,          
      5.00%, 6/01/16     40,415,000   42,631,763
      5.25%, 6/01/17     3,250,000   3,572,920
      6.00%, 6/01/17     5,000,000   5,569,300
  Collier County School Board COP, Master Lease Program, AGMC Insured, 5.00%, 2/15/22     5,075,000   5,470,596
  Hillsborough County Capacity Assessment Special Assessment Revenue, NATL Insured, 5.00%,          
      3/01/19     5,000,000   5,219,250
  Hillsborough County IDA, PCR, Tampa Electric Co. Project, Series A, 5.65%, 5/15/18     6,500,000   7,456,865
  Jacksonville Capital Improvement Revenue, Refunding, 5.00%,          
      10/01/25     7,295,000   8,679,299
      10/01/26     7,350,000   8,677,484
  Jacksonville Sales Tax Revenue, Better Jacksonville, Refunding, Series A, 5.00%, 10/01/28     6,000,000   6,917,340
  JEA Water and Sewer System Revenue, Refunding, Series A, 5.00%,          
      10/01/26     2,985,000   3,592,865
      10/01/27     10,505,000   12,521,855
      10/01/29     2,470,000   2,917,959
  Leon County School District Sales Tax Revenue, 5.00%, 9/01/25     6,040,000   7,260,503
  Miami-Dade County Aviation Revenue, Miami International Airport, Refunding, Series A,          
      4.25%, 10/01/18     6,920,000   7,684,591
      4.50%, 10/01/19     4,805,000   5,488,031
      5.00%, 10/01/21     5,000,000   5,787,500
      5.00%, 10/01/22     5,890,000   6,814,318
      5.25%, 10/01/23     4,875,000   5,706,821
  Miami-Dade County School Board COP, Master Lease Purchase Agreement, Series A,          
  Assured Guaranty, 5.00%, 2/01/23     12,115,000   13,674,322
Miami-Dade County Transit System Sales Surtax Revenue, 5.00%,          
      7/01/24     2,250,000   2,684,070
      7/01/25     3,000,000   3,549,750
      7/01/26     4,000,000   4,697,600
      7/01/27     4,000,000   4,668,320
Miami-Dade County Water and Sewer System Revenue, Refunding, Series B, 5.00%, 10/01/27     15,000,000   17,637,450
  Orange County School Board COP, Master Lease Purchase Agreement, Series B, NATL Insured,          
    5.00%,        
      8/01/18     5,150,000   5,474,038
      8/01/19     5,985,000   6,360,738
  Orlando Utilities Commission Utility System Revenue, Refunding, Series A, 5.00%,          
      10/01/23     4,000,000   4,944,760
      10/01/24     2,405,000   2,999,973
      10/01/25     2,000,000   2,510,720
 
 
  66 | Annual Report     franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)          
      Principal    
      Amount   Value
Municipal Bonds (continued)          
Florida (continued)          
Orlando-Orange County Expressway Authority Revenue, Refunding, AGMC Insured, 5.00%,          
  7/01/24,   $ 9,355,000 $ 11,117,856
     Series B, AGMC Insured, 5.00%, 7/01/22     7,500,000   9,003,150
     Series B, AGMC Insured, 5.00%, 7/01/23     10,000,000   12,102,200
     Series B, AGMC Insured, 5.00%, 7/01/24     14,650,000   17,544,987
Palm Beach County School Board COP, Master Lease Purchase Agreement,          
Refunding, Series B, 5.00%, 8/01/25     4,000,000   4,903,120
Series E, NATL Insured, 5.00%, 8/01/21     6,060,000   6,638,366
Palm Beach County Solid Waste Authority Revenue, Refunding, 5.00%, 10/01/23     17,290,000   20,765,463
Palm Beach County Water and Sewer Revenue, Refunding, 5.00%,          
     10/01/24     700,000   876,610
     10/01/25     1,690,000   2,105,757
     10/01/26     1,250,000   1,548,575
     10/01/27     2,150,000   2,644,500
     10/01/28     1,240,000   1,517,549
Pasco County Solid Waste Disposal and Resource Recovery System Revenue, Series D,          
AGMC Insured, 5.00%,          
     10/01/22     9,490,000   10,532,856
     10/01/24     10,455,000   11,597,209
South Miami Health Facilities Authority Hospital Revenue, Baptist Health South Florida Obligated          
Group, 5.00%, 8/15/19     5,000,000   5,498,900
          360,603,328
Georgia 1.3%          
Atlanta Airport Passenger Facility Charge Revenue, General Subordinate Lien, Refunding, Series A,          
   5.00%,        
     1/01/27     7,000,000   8,310,890
     1/01/28     5,100,000   6,002,292
Atlanta Tax Allocation, Atlantic Station Project, Refunding, Assured Guaranty, 5.25%,          
   12/01/20     1,500,000   1,670,235
   12/01/21     1,000,000   1,114,060
Atlanta Water and Wastewater Revenue, Refunding,          
a5.00%, 11/01/26     5,165,000   6,203,888
   Series B, AGMC Insured, 5.00%, 11/01/20     8,575,000   10,000,251
   Series B, AGMC Insured, 5.00%, 11/01/21     9,230,000   10,764,118
Georgia State Municipal Electric Authority Revenue, Project One, Subordinated, Series B, 5.00%,          
1/01/20     10,000,000   11,623,000
South Georgia Governmental Services Authority Revenue, Telecommunications/Cable Systems          
Projects, NATL Insured, 5.00%, 1/01/16     2,650,000   2,681,986
          58,370,720
Hawaii 0.7%          
Hawaii State GO, Series EO, 5.00%, 8/01/28     25,000,000   30,140,500
Illinois 3.6%          
Chicago GO, Project and Refunding, Series A, AGMC Insured, 5.00%, 1/01/20     22,490,000   23,356,315
Chicago O’Hare International Airport Revenue, General, third lien,          
Refunding, Series B, AGMC Insured, 5.00%, 1/01/18     10,670,000   11,457,979
Refunding, Series B, AGMC Insured, 5.00%, 1/01/20     7,850,000   8,440,084
Series C, AGMC Insured, 5.25%, 1/01/22     5,215,000   6,055,867
Chicago Transit Authority Capital Grant Receipts Revenue, Federal Transit Administration          
Section 5307, Refunding, AGMC Insured, 5.25%, 6/01/25     6,125,000   7,077,254
 
 
franklintempleton.com     Annual Report | 67

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Illinois (continued)        
  Cook County GO, Refunding, Series A, MAC Insured, 5.25%, 11/15/22 $ 12,395,000 $ 14,485,913
  Illinois State Finance Authority Revenue, Rush University Medical Center Obligated Group, Series A,        
Pre-Refunded, 6.75%, 11/01/24   5,000,000   6,028,150
  Illinois State GO,        
  5.50%, 7/01/26   7,000,000   7,992,250
  MAC Insured, 5.00%, 2/01/26   5,650,000   6,261,726
  Refunding, AGMC Insured, 5.00%, 1/01/19   12,000,000   13,436,520
  Series A, AGMC Insured, 5.00%, 4/01/25   18,000,000   20,004,840
  Illinois State Sales Tax Revenue, Build Illinois, Junior Obligation, Refunding, 5.00%, 6/15/26   14,000,000   16,637,320
  Metropolitan Pier and Exposition Authority Revenue, McCormick Place Expansion Project, Refunding,        
  Series B, 5.00%,        
  12/15/22   5,000,000   6,039,650
  12/15/22   2,000,000   2,184,660
  6/15/23   4,000,000   4,749,520
  Southwestern Illinois Development Authority Revenue, Local Government Program, Edwardsville        
  Community Unit School District No. 7 Project, AGMC Insured, 5.00%, 12/01/19   11,005,000   12,170,319
          166,378,367
  Kansas 0.2%        
  Kansas State Department of Transportation Highway Revenue, Refunding, Series A, 5.00%,        
  9/01/28   8,000,000   9,710,720
  Kentucky 0.6%        
  Kentucky Asset/Liability Commission Agency Fund Revenue, Project Notes, Federal Highway Trust,        
  First Series A, 5.00%, 9/01/20   6,000,000   7,058,040
  Kentucky State Property and Buildings Commission Revenues, Project No. 87, Refunding,        
  NATL Insured, 5.00%, 3/01/23   11,000,000   11,874,610
  Kentucky State Turnpike Authority Economic Development Road Revenue, 5.00%, 7/01/22   1,000,000   1,158,760
  Louisville and Jefferson County Metropolitan Sewer District Sewer and Drainage System Revenue,        
  Refunding, Series A, 5.00%, 5/15/24   7,000,000   8,407,140
          28,498,550
  Louisiana 1.5%        
  Jefferson Sales Tax District Special Sales Tax Revenue, Parish of Jefferson, Refunding, Series B,        
  Assured Guaranty, 5.00%, 12/01/21   15,000,000   17,289,900
  Louisiana State Citizens Property Insurance Corp. Assessment Revenue, Series B, AMBAC Insured,        
  5.00%, 6/01/19   20,000,000   21,053,400
  Louisiana State GO, Refunding, Series C, 5.00%, 8/01/25   10,000,000   12,319,900
  New Orleans Aviation Board Revenue, Restructuring GARB, Refunding, Series A-1,        
  Assured Guaranty, 6.00%, 1/01/23   2,000,000   2,309,080
  New Orleans GO, Public Improvement, Radian Insured, Series A, 5.00%, 12/01/25   7,915,000   8,631,624
  Orleans Parish Parishwide School District GO, Refunding, AGMC Insured, 5.00%, 9/01/18   5,000,000   5,633,150
          67,237,054
  Maryland 1.0%        
  Baltimore Revenue, Wastewater Projects, Refunding, Series D, 5.00%,        
  7/01/28   2,790,000   3,351,097
  7/01/29   5,835,000   6,969,499
  Maryland State EDC Student Housing Revenue, University of Maryland College Park Projects,        
  Refunding, Assured Guaranty, 5.00%,        
  6/01/19   1,445,000   1,521,672
  6/01/20   1,000,000   1,052,800
 
 
  68 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Maryland (continued)        
Maryland State Health and Higher Educational Facilities Authority Revenue,        
Peninsula Regional Medical Center Issue, Pre-Refunded, 5.00%, 7/01/18 $ 1,600,000 $ 1,699,360
Peninsula Regional Medical Center Issue, Pre-Refunded, 5.00%, 7/01/19   1,430,000   1,518,803
Peninsula Regional Medical Center Issue, Pre-Refunded, 5.00%, 7/01/20   1,000,000   1,062,100
Washington County Hospital Issue, 5.25%, 1/01/22   1,000,000   1,088,810
Washington County Hospital Issue, 5.25%, 1/01/23   1,250,000   1,360,650
Western Maryland Health System Issue, Series A, NATL Insured, Pre-Refunded, 5.00%, 1/01/19   2,920,000   3,093,302
Prince George’s County GO, Consolidated Public Improvement, Series A, 5.00%, 9/01/23   16,740,000   20,866,075
        43,584,168
Massachusetts 1.9%        
Massachusetts State Department of Transportation Metropolitan Highway System Revenue,        
Commonwealth Contract Assistance Secured, Subordinated, Series B, 5.00%, 1/01/20   5,000,000   5,783,750
Senior, Refunding, Series B, 5.00%, 1/01/17   5,000,000   5,403,450
Senior, Refunding, Series B, 5.00%, 1/01/18   5,000,000   5,558,600
Massachusetts State Health and Educational Facilities Authority Revenue, CareGroup Issue,        
      Capital Asset Program, Series B-2, NATL Insured, 5.375%, 2/01/26   1,720,000   1,936,961
Massachusetts State School Building Authority Dedicated Sales Tax Revenue, Senior, Refunding,        
Series A, 5.00%, 8/15/25   10,975,000   13,217,192
Series A, 5.00%, 8/15/26   7,000,000   8,403,360
Series B, 5.00%, 8/15/27   6,000,000   7,180,020
Massachusetts State Water Pollution Abatement Trust Revenue, State Revolving Fund,        
Refunding, 5.00%, 8/01/26   10,650,000   13,569,910
Series 17, Sub Series 17A, 5.00%, 2/01/24   9,380,000   11,528,864
Series 17, Sub Series 17A, 5.00%, 2/01/25   9,750,000   11,935,463
        84,517,570
Michigan 2.7%        
Detroit GO, Distributable State Aid, 5.00%,        
11/01/19   6,775,000   7,362,799
11/01/20   6,000,000   6,619,980
Michigan State Finance Authority Revenue,        
School District of the City of Detroit, Refunding, 5.25%, 6/01/17   10,640,000   11,401,292
School District of the City of Detroit, Refunding, 5.50%, 6/01/21   6,000,000   6,887,520
State Revolving Fund, Clean Water, 5.00%, 10/01/24   5,000,000   6,065,100
State Revolving Fund, Clean Water, Subordinate, Refunding, 5.00%, 10/01/24   7,000,000   8,491,140
Michigan State GO, School Loan, Refunding, Series A, 5.25%, 11/01/22   10,000,000   11,550,100
Michigan State HDA, SFMR, Series A, 5.00%, 12/01/19   410,000   430,890
Michigan State Hospital Finance Authority Revenue, Trinity Health Credit Group,        
Mandatory Put 12/01/17, Refunding, Series A, 6.00%, 12/01/34   10,000,000   11,389,600
Refunding, Series MI, 5.00%, 12/01/24   8,000,000   9,450,560
Michigan State Revenue, Grant Anticipation Bonds, AGMC Insured, 5.25%, 9/15/20   7,500,000   8,312,400
Michigan State Strategic Fund Limited Obligation Revenue,        
Detroit Edison Co. Exempt Facilities Project, Mandatory Put 8/01/16, Refunding, Series ET,        
      Sub Series ET-2, 5.50%, 8/01/29   7,000,000   7,423,080
Michigan House of Representatives Facilities, Series A, Assured Guaranty, 5.25%, 10/15/22   4,000,000   4,552,920
Michigan House of Representatives Facilities, Series A, Assured Guaranty, 5.25%, 10/15/23   1,000,000   1,137,850
South Lyon Community Schools GO, Refunding, NATL Insured, 5.00%, 5/01/16   3,040,000   3,199,600
Wayne State University Revenue, Refunding, Series A, 5.00%,        
11/15/18   4,265,000   4,841,031
11/15/19   5,210,000   6,036,514
11/15/20   5,255,000   6,117,240
 
franklintempleton.com   Annual Report | 69

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Michigan (continued)        
Wyandotte Electric System Revenue, Refunding, Series A, Assured Guaranty, 5.00%, 10/01/17 $ 3,955,000 $ 4,273,061
        125,542,677
Minnesota 0.4%        
Minnesota Agricultural and Economic Development Board Revenue, Health Care Facilities,        
Essentia Health Obligated Group, Series C-1, Assured Guaranty,        
5.00%, 2/15/21   4,165,000   4,784,585
5.00%, 2/15/22   5,570,000   6,361,776
5.25%, 2/15/23   5,000,000   5,769,400
Minnesota State General Fund Revenue, Appropriation, Refunding, Series A, 5.00%, 3/01/25   1,925,000   2,291,770
        19,207,531
Missouri 0.8%        
Hannibal IDA Health Facilities Revenue, Hannibal Regional Hospital, Refunding, 5.00%, 3/01/19   1,675,000   1,739,086
Missouri State Joint Municipal Electric Utility Commission Power Project Revenue, Plum Point Project,        
NATL Insured, Pre-Refunded, 5.00%, 1/01/17   1,500,000   1,559,445
NATL Insured, Pre-Refunded, 5.00%, 1/01/19   1,000,000   1,039,630
Refunding, 5.00%, 1/01/27   3,250,000   3,832,790
Refunding, 5.00%, 1/01/28   4,500,000   5,252,400
Refunding, 5.00%, 1/01/29   4,045,000   4,676,667
Springfield Public Utility Revenue, NATL Insured, 4.50%, 8/01/21   15,245,000   16,108,477
        34,208,495
Nevada 1.1%        
Clark County Airport Revenue, System, sub. lien, Series C, AGMC Insured, 5.00%,        
7/01/22   5,000,000   5,709,800
7/01/23   15,000,000   17,082,150
Clark County School District GO, Refunding, Series A, NATL Insured, 4.50%, 6/15/19   5,000,000   5,542,600
Clark County Water Reclamation District GO,        
Series A, 5.25%, 7/01/21   3,435,000   3,995,901
Series A, 5.25%, 7/01/22   3,120,000   3,628,030
Series B, 5.25%, 7/01/21   3,430,000   3,990,085
Series B, 5.25%, 7/01/22   3,615,000   4,203,630
Washoe County School District GO, Refunding, Series A, 5.00%, 6/01/25   6,130,000   7,232,542
        51,384,738
New Hampshire 0.2%        
Manchester GARB, Series A, AGMC Insured, 5.00%, 1/01/25   7,930,000   9,128,937
New Jersey 7.0%        
Hudson County Improvement Authority Facility Lease Revenue, Hudson County Lease Project,        
Refunding, AGMC Insured, 5.375%,        
10/01/22   5,220,000   6,229,861
10/01/23   5,375,000   6,487,195
10/01/24   2,050,000   2,509,918
New Jersey EDA Revenue, School Facilities Construction, Refunding,        
Series DD-1, 5.00%, 12/15/18   20,000,000   22,336,200
Series EE, 5.25%, 9/01/24   12,210,000   13,720,621
New Jersey Health Care Facilities Financing Authority Revenue, Barnabas Health Issue, Refunding,        
Series A, 5.00%,        
7/01/20   10,000,000   11,706,400
7/01/21   20,535,000   24,419,195
 
 
70 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New Jersey (continued)        
New Jersey State COP, Equipment Lease Purchase Agreement, Series A,        
5.25%, 6/15/22 $ 10,000,000 $ 11,432,700
5.25%, 6/15/23   17,945,000   20,484,038
AMBAC Insured, 5.00%, 6/15/17   5,000,000   5,015,000
New Jersey State Educational Facilities Authority Revenue, Kean University Issue, Refunding,        
Series A, 5.00%, 9/01/21   6,000,000   6,861,120
New Jersey State Higher Education Assistance Authority Student Loan Revenue,        
Refunding, Series 1A, 5.00%, 12/01/17   3,250,000   3,594,143
Refunding, Series 1A, 5.25%, 12/01/19   2,500,000   2,874,275
Refunding, Series 1A, 4.75%, 12/01/21   6,025,000   6,635,875
Refunding, Series 1A, 4.75%, 12/01/22   8,045,000   8,796,564
Series A, 5.375%, 6/01/24   14,475,000   16,016,443
New Jersey State Transportation Trust Fund Authority Revenue,        
Transportation Program, Series AA, AGMC Insured, 5.00%, 6/15/26   26,650,000   30,223,498
Transportation System, Refunding, Series A, 5.25%, 12/15/21   10,000,000   11,603,500
Transportation System, Refunding, Series A, 5.50%, 12/15/22   25,000,000   29,478,000
Transportation System, Refunding, Series A, Assured Guaranty, 5.50%, 12/15/22   11,465,000   13,650,573
Transportation System, Series D, AGMC Insured, Pre-Refunded, 5.00%, 6/15/19   5,630,000   5,706,230
New Jersey State Turnpike Authority Turnpike Revenue, Series H, 5.00%,        
1/01/20   10,000,000   11,348,000
1/01/21   20,000,000   22,664,000
Rutgers State University GO,        
Refunding, Series J, 5.00%, 5/01/26   5,000,000   5,990,600
Refunding, Series J, 5.00%, 5/01/27   10,830,000   12,842,972
Series L, 5.00%, 5/01/27   5,270,000   6,262,394
        318,889,315
New York 9.5%        
Erie County IDA School Facility Revenue, City School District of the City of Buffalo Project,        
Refunding, 5.00%, 5/01/23   6,235,000   7,518,163
Refunding, 5.00%, 5/01/24   8,000,000   9,593,040
Series A, 5.00%, 5/01/22   14,840,000   17,087,963
Series A, AGMC Insured, 5.75%, 5/01/22   5,000,000   5,724,700
Long Island Power Authority Electric System Revenue, General,        
Refunding, Series B, 5.00%, 9/01/26   5,000,000   5,727,850
Refunding, Series E, NATL Insured, 5.00%, 12/01/18   8,500,000   9,134,610
Series A, NATL Insured, Pre-Refunded, 5.00%, 12/01/19   7,000,000   7,414,610
MTA Revenue, Transportation,        
Refunding, Series F, 5.00%, 11/15/15   1,250,000   1,292,138
Refunding, Series F, 5.00%, 11/15/26   25,000,000   29,581,250
Series A, 5.00%, 11/15/27   3,500,000   4,088,280
Series A, AGMC Insured, 5.00%, 11/15/20   5,000,000   5,540,750
Series A, AGMC Insured, 5.50%, 11/15/20   4,365,000   5,306,923
Series C, 5.00%, 11/15/16   1,150,000   1,238,976
Series C, 5.75%, 11/15/18   12,325,000   13,551,707
Nassau County Local Economic Assistance and FICO Revenue, Catholic Health Services of        
    Long Island Obligated Group Project, Refunding, 5.00%, 7/01/21   9,000,000   10,567,170
New York City GO,        
Fiscal 2008, Refunding, Series G, 5.00%, 8/01/21   7,000,000   7,705,110
Fiscal 2008, Series D, 5.00%, 12/01/21   5,000,000   5,572,650

 

franklintempleton.com

Annual Report

| 71


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New York (continued)        
New York City GO, (continued)        
Fiscal 2013, Refunding, Series D, 5.00%, 8/01/27 $ 10,000,000 $ 11,705,400
Fiscal 2013, Series I, 5.00%, 8/01/24   10,200,000   12,329,046
Fiscal 2014, Refunding, Series G, 5.00%, 8/01/22   8,000,000   9,657,040
Fiscal 2014, Refunding, Series G, 5.00%, 8/01/23   6,860,000   8,368,240
Series F, 4.75%, 1/15/16   5,000   5,017
Series J, Sub Series J-1, AGMC Insured, 5.00%, 6/01/20   35,000   36,974
Series J, Sub Series J-1, AGMC Insured, Pre-Refunded, 5.00%, 6/01/20   9,965,000   10,548,849
Series O, 5.00%, 6/01/19   45,000   45,517
Series O, Pre-Refunded, 5.00%, 6/01/19   4,955,000   5,012,775
New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2009,        
Series S-3, 5.00%, 1/15/23   5,000,000   5,703,000
Series S-4, 5.00%, 1/15/21   4,665,000   5,326,590
New York City Transitional Finance Authority Revenue, Future Tax Secured,        
Fiscal 2014, sub. bond, Series D, Sub Series D-1, 5.00%, 2/01/27   8,740,000   10,436,609
Fiscal 2014, sub. bond, Series D, Sub Series D-1, 5.00%, 2/01/28   5,000,000   5,922,450
Subordinate, Fiscal 2003, Refunding, Sub Series A-1, 5.00%, 11/01/23   11,500,000   13,799,080
Subordinate, Fiscal 2011, Series C, 5.00%, 11/01/23   12,805,000   15,173,925
Subordinate, Series C, 5.00%, 11/01/24   7,620,000   9,148,724
New York State Dormitory Authority Lease Revenues, Third General Resolution, State University        
Educational Facilities Issue, Refunding, Series A, 5.00%, 5/15/24   7,000,000   8,421,770
New York State Dormitory Authority Revenues,        
Non-State Supported Debt, School Districts Revenue, Bond Financing Program, Series A,        
Assured Guaranty, 5.00%, 10/01/24   5,000,000   5,787,700
State Supported Debt, City University System, Consolidated Fifth General Resolution, Series A,        
NATL Insured, 5.50%, 7/01/23   7,915,000   9,946,622
State Supported Debt, Mental Health Services Facilities Improvement, Refunding, Series A-1,        
5.50%, 2/15/18   10,000,000   11,294,300
State Supported Debt, Mental Health Services Facilities Improvement, Refunding, Series A-1,        
5.00%, 2/15/19   3,245,000   3,714,909
New York State Dormitory Authority State Personal Income Tax Revenue,        
General Purpose, Refunding, Series A, 5.00%, 12/15/27   10,000,000   11,913,100
Refunding, Series A, 5.00%, 3/15/28   7,185,000   8,621,569
Refunding, Series E, 5.00%, 2/15/28   10,000,000   11,984,900
Refunding, Series E, 5.00%, 2/15/30   5,000,000   5,925,350
New York State Local Government Assistance Corp. Revenue, sub. lien, Refunding, Series B, 5.00%,        
4/01/21   12,000,000   14,154,240
New York State Thruway Authority General Revenue,        
Refunding, Series H, NATL Insured, 5.00%, 1/01/22   10,000,000   11,069,900
Series I, 5.00%, 1/01/26   10,000,000   11,675,400
New York State Thruway Authority Revenue, Local Highway and Bridge Service Contract, Refunding,        
5.00%, 4/01/19   9,570,000   11,020,238
New York State Urban Development Corp. Revenue,        
Service Contract, Refunding, Series A, Sub Series A-1, 5.00%, 1/01/20   6,500,000   7,594,600
State Personal Income Tax, Series D, 5.00%, 3/15/24   10,000,000   12,132,700
Rockland County Solid Waste Management Authority Revenue, Refunding, Series A,        
Assured Guaranty, 5.375%, 12/15/18   4,580,000   5,260,771
Suffolk County EDC Revenue, Catholic Health Services of Long Island Obligated Group Project,        
Refunding, 5.00%, 7/01/22   10,000,000   11,523,400
        431,906,595

 

72 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)          
      Principal    
      Amount   Value
Municipal Bonds (continued)          
North Carolina 1.4%          
Buncombe County Limited Obligation Revenue, Series A, 5.00%, 6/01/28   $ 5,000,000 $ 5,934,800
The Charlotte-Mecklenburg Hospital Authority Health Care Revenue, Carolinas HealthCare System,          
Series A, AGMC Insured, 5.00%, 1/15/22     10,000,000   10,734,800
North Carolina Eastern Municipal Power Agency Power System Revenue,          
Refunding, Series A, 5.00%, 1/01/21     10,000,000   11,689,500
Refunding, Series A, Assured Guaranty, 5.25%, 1/01/19     15,000,000   16,838,250
Series C, Assured Guaranty, 6.00%, 1/01/19     1,795,000   1,898,410
North Carolina Municipal Power Agency No. 1 Catawba Electric Revenue, Refunding,          
Series A, 5.25%, 1/01/20     4,500,000   5,042,070
Series B, 5.00%, 1/01/20     8,000,000   9,294,400
Oak Island Enterprise System Revenue, Assured Guaranty, 5.50%, 6/01/23     1,735,000   2,011,368
          63,443,598
Ohio 6.5%          
Akron Income Tax Revenue, Community Learning Centers, Refunding, Series A, 5.00%,          
    12/01/24     5,265,000   6,270,036
    12/01/25     6,645,000   7,854,789
    12/01/26     8,240,000   9,667,992
American Municipal Power-Ohio Inc. Revenue, Prairie State Energy Campus Project,          
Refunding, Series A, 5.25%, 2/15/20     355,000   400,035
Refunding, Series A, 5.25%, 2/15/21     645,000   726,625
Series A, Pre-Refunded, 5.25%, 2/15/20     5,645,000   6,364,625
Series A, Pre-Refunded, 5.25%, 2/15/21     10,855,000   12,238,795
Cincinnati GO, Various Purpose, Improvement and Refunding, Series A, 5.00%,          
    12/01/23     2,000,000   2,395,120
    12/01/24     1,270,000   1,512,430
    12/01/25     2,000,000   2,371,460
    12/01/27     2,000,000   2,343,700
    12/01/28     2,350,000   2,733,473
Cleveland Airport System Revenue, Refunding, Series A, AGMC Insured, 5.00%,          
    1/01/25     5,000,000   5,803,500
    1/01/26     5,000,000   5,796,700
Cleveland Water Revenue, second lien, Refunding, Series A, 5.00%,          
    1/01/23     1,840,000   2,184,025
    1/01/24     1,750,000   2,066,190
    1/01/25     2,500,000   2,939,550
    1/01/26     2,000,000   2,335,080
Cuyahoga County EDR, Recovery Zone Facility, Medical Mart/Convention Center Project, Series F,          
     5.00%,        
        12/01/20     7,000,000   8,254,190
        12/01/21     7,300,000   8,616,701
Hamilton City School District GO, School Improvement, AGMC Insured, 5.00%, 12/01/24     5,000,000   5,415,450
Hamilton County Sewer System Revenue, The Metropolitan Sewer District of Greater Cincinnati,          
Improvement and Refunding, Series A, 5.00%,          
    12/01/24     2,500,000   3,067,200
    12/01/25     2,400,000   2,929,536
    12/01/26     4,000,000   4,840,120
    12/01/27     5,000,000   5,997,650
    12/01/28     3,000,000   3,567,390
Kent State University Revenues, General Receipts, Series A, 5.00%,          
    5/01/23     1,200,000   1,405,776
    5/01/24     1,500,000   1,742,220

 

franklintempleton.com Annual Report | 73


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Ohio (continued)        
Kent State University Revenues, General Receipts, Series A, 5.00%, (continued)        
5/01/25 $ 1,500,000 $ 1,735,830
5/01/26   1,600,000   1,838,016
Lakewood City School District GO, School Improvement, Refunding, AGMC Insured, 4.50%,        
12/01/22   2,900,000   3,174,601
Mason City School District GO, School Improvement, Refunding, NATL Insured, 5.00%, 12/01/15   2,670,000   2,765,132
Nordonia Hills City School District GO, School Improvement, NATL Insured, Pre-Refunded, 4.50%,        
12/01/21   2,360,000   2,526,474
Ohio State Building Authority Revenue, State Facilities, Administrative Building Fund Projects,        
Refunding, Series C, 5.00%, 10/01/22   5,780,000   6,776,934
Ohio State GO,        
Higher Education, Refunding, Series A, 5.00%, 2/01/24   8,585,000   10,286,547
Higher Education, Refunding, Series A, 5.00%, 2/01/25   7,000,000   8,387,400
Series R, 5.00%, 5/01/26   11,000,000   13,429,570
Series R, 5.00%, 5/01/27   5,000,000   6,058,400
Series R, 5.00%, 5/01/28   9,100,000   10,951,668
Ohio State Turnpike Commission Turnpike Revenue, Refunding, Series A, NATL Insured, 5.50%,        
2/15/24   10,000,000   12,555,900
Ohio State Water Development Authority Water PCR, Refunding, 5.00%,        
12/01/23   5,000,000   6,211,000
6/01/24   4,000,000   4,981,080
12/01/24   4,000,000   5,009,000
Toledo City School District GO, School Facilities Improvement, Refunding, Series B, 5.00%,        
12/01/24   2,920,000   3,460,171
12/01/25   4,125,000   4,868,902
12/01/26   4,340,000   5,082,574
12/01/27   4,565,000   5,307,771
Toledo Water System Revenue, Improvement and Refunding, 5.00%,        
11/15/25   4,000,000   4,743,400
11/15/26   6,140,000   7,221,377
11/15/27   6,450,000   7,528,956
11/15/28   6,570,000   7,658,518
University of Cincinnati General Receipts Revenue, Series C,        
5.00%, 6/01/25   3,010,000   3,599,719
Assured Guaranty, 5.00%, 6/01/21   11,810,000   13,801,048
Assured Guaranty, 5.00%, 6/01/22   11,675,000   13,613,984
Youngstown GO, AMBAC Insured, 6.125%, 12/01/15   285,000   288,232
        295,702,562
Oregon 1.4%        
Deschutes County Hospital Facility Authority Hospital Revenue, Cascade Healthcare Community Inc.,        
Refunding, 7.375%, 1/01/23   2,000,000   2,440,980
Oregon State Department of Administrative Services COP, Series A, NATL Insured, Pre-Refunded,        
5.00%, 11/01/19   2,340,000   2,521,795
Oregon State Department of Transportation Highway User Tax Revenue, senior lien,        
Refunding, Series A, 5.00%, 11/15/25   10,000,000   12,138,000
Refunding, Series A, 5.00%, 11/15/27   3,000,000   3,671,130
Refunding, Series A, 5.00%, 11/15/28   3,500,000   4,239,165
Series A, Pre-Refunded, 5.00%, 11/15/22   5,840,000   6,766,399
Portland Sewer System Revenue, second lien, Series B, NATL Insured, 5.00%,        
6/15/18   3,135,000   3,317,331
6/15/19   3,290,000   3,480,919

 

74 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Oregon (continued)        
Portland Water System Revenue, second lien, Refunding, Series A, 5.00%, 10/01/25 $ 5,000,000 $ 6,109,150
Washington County School District No. 48J Beaverton GO, 5.00%,        
6/15/27   5,000,000   6,066,350
6/15/28   5,000,000   6,001,900
6/15/29   7,500,000   8,955,000
        65,708,119
Pennsylvania 4.2%        
Allegheny County Hospital Development Authority Revenue, University of Pittsburgh Medical Center,        
Series A, 5.00%,        
5/15/19   9,000,000   10,331,910
5/15/20   7,500,000   8,778,900
Commonwealth Financing Authority Revenue, Series C-1, AGMC Insured, 5.00%,        
6/01/22   4,130,000   4,826,442
6/01/23   4,345,000   5,053,930
Lancaster County Solid Waste Management Authority Solid Waste Disposal System Revenue,        
Series A, 5.25%,        
12/15/25   5,345,000   6,413,198
12/15/26   5,835,000   6,940,791
Pennsylvania State GO, Second Series, 5.00%, 10/15/26   13,375,000   15,928,689
Pennsylvania State Turnpike Commission Turnpike Revenue,        
Series B, 5.00%, 12/01/19   32,230,000   37,357,793
Series E, 5.00%, 12/01/24   5,000,000   5,807,950
Series E, 5.00%, 12/01/25   10,000,000   11,588,900
Subordinate, Refunding, Series C, Sub Series C-1, Assured Guaranty, 6.00%, 6/01/23   10,000,000   11,528,300
Subordinate, Series A, Assured Guaranty, 5.00%, 6/01/22   6,070,000   6,934,429
Philadelphia GO, Refunding, Series A, Assured Guaranty, 5.25%, 8/01/22   20,000,000   23,169,000
Philadelphia Municipal Authority Lease Revenue, 6.00%, 4/01/22   7,065,000   8,283,430
Philadelphia Water and Wastewater Revenue,        
Refunding, Series A, AGMC Insured, 5.00%, 6/15/17   10,000,000   10,980,600
Refunding, Series A, AGMC Insured, 5.00%, 6/15/18   5,000,000   5,643,800
Refunding, Series A, AGMC Insured, 5.00%, 6/15/19   5,000,000   5,779,050
Series A, 5.00%, 1/01/20   1,210,000   1,380,404
Series A, 5.25%, 1/01/21   3,655,000   4,200,801
Series A, 5.25%, 1/01/22   2,330,000   2,660,114
        193,588,431
South Carolina 1.4%        
Anderson Water and Sewer System Revenue, Refunding, AGMC Insured, 5.00%,        
7/01/22   2,555,000   3,059,383
7/01/23   2,695,000   3,222,977
7/01/24   2,825,000   3,363,671
7/01/25   2,965,000   3,517,113
Berkeley County Utility Revenue, Combined Utility System, Refunding, 5.00%,        
6/01/25   3,665,000   4,397,853
6/01/26   1,700,000   2,023,068
SCAGO Educational Facilities Corp. for Pickens School District Revenue, Installment Purchase,        
School District of Pickens County Project, AGMC Insured, 5.00%, 12/01/18   5,000,000   5,407,000
South Carolina Jobs EDA Hospital Revenue, Palmetto Health, Refunding and Improvement, 5.375%,        
8/01/22   6,000,000   6,817,680

 

franklintempleton.com Annual Report | 75


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)          
      Principal    
      Amount   Value
Municipal Bonds (continued)          
South Carolina (continued)          
South Carolina State Transportation Infrastructure Bank Revenue, Refunding, Series B, AGMC Insured,          
5.00%,        
10/01/25   $ 12,935,000 $ 15,310,513
10/01/26     13,440,000   15,877,613
          62,996,871
Tennessee 0.6%          
Memphis GO, General Improvement, Refunding, Series A, 5.00%, 4/01/22     15,805,000   19,080,428
Metropolitan Government of Nashville and Davidson County GO, Improvement, Refunding, Series A,          
5.00%, 1/01/26     5,000,000   5,981,350
Metropolitan Government of Nashville and Davidson County Water and Sewer Revenue, Refunding,          
5.00%,        
7/01/26     1,675,000   2,001,809
7/01/27     1,800,000   2,134,764
          29,198,351
Texas 8.8%          
Austin Water and Wastewater System Revenue, Refunding,          
5.00%, 11/15/26     4,835,000   5,796,198
5.00%, 11/15/27     4,000,000   4,773,320
Series A, 5.00%, 11/15/28     5,000,000   5,929,250
Board of Regents of the University of Houston System Revenue, Consolidated, Refunding, Series A,          
5.00%, 2/15/27     5,000,000   5,858,500
Brownsville Utility System Revenue,          
AGMC insured, Pre-Refunded, 5.00%, 9/01/22     5,840,000   5,980,043
Refunding and Improvement, AGMC Insured, 5.00%, 9/01/22     2,615,000   2,672,844
Clear Creek ISD, GO, Refunding, Series A, 5.00%,          
2/15/25     11,370,000   13,507,105
2/15/26     12,060,000   14,241,292
Dallas County Utility and Reclamation District GO, Refunding,          
Series A, AMBAC Insured, 5.15%, 2/15/21     3,025,000   3,263,400
Series B, AMBAC Insured, 5.15%, 2/15/21     8,025,000   8,657,450
Dallas Waterworks and Sewer System Revenue, Refunding, AMBAC Insured, 4.50%, 10/01/19     10,000,000   10,941,100
Dallas/Fort Worth International Airport Revenue, Joint, Refunding,          
Series A, 5.00%, 11/01/23     1,500,000   1,608,735
Series A, 5.00%, 11/01/24     1,000,000   1,072,140
Series D, 5.25%, 11/01/27     5,000,000   6,025,500
Series D, 5.25%, 11/01/28     2,100,000   2,518,089
El Paso ISD, GO, Refunding, PSF Guarantee, 5.00%,          
8/15/25     1,725,000   2,125,028
8/15/26     3,900,000   4,763,577
8/15/27     5,460,000   6,627,785
8/15/28     2,500,000   3,013,625
Fort Worth GO, General Purpose, Refunding and Improvement, 5.00%,          
3/01/25     6,000,000   7,134,540
3/01/26     6,790,000   8,025,508
Frisco GO, Collin and Denton Counties, Refunding and Improvement, 5.00%, 2/15/25     5,000,000   6,011,550
Harris County Hospital District Revenue, senior lien, Refunding, Series A, NATL Insured, 5.00%,          
2/15/22     4,165,000   4,486,288

 

76 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Texas (continued)        
Harris County MTA Sales and Use Tax Revenue, Contractual Obligations, 5.00%,        
11/01/26 $ 2,000,000 $ 2,441,980
11/01/27   2,000,000   2,417,080
11/01/28   2,000,000   2,394,360
Houston GO, Public Improvement, Refunding, Series A, 5.00%, 3/01/22   10,000,000   11,672,000
Houston Utility System Revenue, Combined, first lien, Refunding, Series C, 5.00%,        
5/15/24   5,000,000   6,183,250
5/15/26   19,690,000   23,928,076
Lower Colorado River Authority Transmission Contract Revenue, LCRA Transmission Services Corp.        
Project, Refunding,        
Series A, 5.00%, 5/15/24   6,000,000   6,975,660
Series B, 5.00%, 5/15/24   10,620,000   12,346,918
North Texas Tollway Authority Revenue, Special Projects System, Series D, 5.00%, 9/01/24   12,000,000   14,326,440
Sabine River Authority PCR, Southwestern Electric Power Co. Project, Refunding, NATL Insured,        
4.95%, 3/01/18   15,000,000   16,527,000
San Angelo ISD, GO, Refunding, Series A, PSF Guarantee, 5.00%, 2/15/28   5,220,000   6,237,274
San Antonio Electric and Gas Revenue, Refunding, 5.25%, 2/01/25   27,000,000   34,295,130
San Antonio Water System Revenue, junior lien, Refunding, Series A, 5.00%,        
5/15/24   1,500,000   1,846,785
5/15/26   2,200,000   2,675,398
5/15/28   2,000,000   2,392,040
5/15/29   1,000,000   1,186,560
Texas State Transportation Commission Revenue, first tier, Refunding, Series A, 5.00%,        
4/01/23   20,000,000   24,688,200
4/01/24   20,000,000   24,900,200
4/01/25   20,000,000   24,602,200
Tyler Health Facilities Development Corp. Hospital Revenue, East Texas Medical Center Regional        
Healthcare System Project, Refunding and Improvement, Series A, 5.25%,        
11/01/22   5,000,000   5,473,000
11/01/23   5,000,000   5,471,650
University of Texas Permanent University Fund Revenue, Series B, 5.00%, 7/01/27   10,000,000   12,225,900
Williamson County GO, Refunding, 5.00%,        
2/15/23   6,235,000   7,555,074
2/15/25   13,780,000   16,547,713
        404,342,755
Utah 0.5%        
Salt Lake County College Revenue, Westminster College Project, Refunding, 5.00%, 10/01/19   2,585,000   2,645,024
Utah State Board of Regents Student Loan Revenue, Refunding, Series EE-2, 5.00%,        
11/01/20   9,000,000   10,627,560
11/01/21   9,000,000   10,590,300
        23,862,884
Virginia 3.6%        
aFairfax County GO, Public Improvement, Series A, 5.00%, 10/01/25   11,335,000   14,161,382
Norfolk Water Revenue, Refunding, 5.00%,        
11/01/24   6,145,000   7,296,573
11/01/25   6,000,000   7,111,260
Virginia Beach Development Authority Public Facility Revenue, Refunding, Series B, 5.00%,        
8/01/19   12,635,000   14,555,267
8/01/20   13,450,000   15,825,270

 

franklintempleton.com Annual Report | 77


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)          
      Principal    
      Amount   Value
Municipal Bonds (continued)          
Virginia (continued)          
Virginia State College Building Authority Educational Facilities Revenue, Series A, 5.00%, 2/01/25   $ 13,080,000 $ 16,063,548
Virginia State Public School Authority Revenue, School Financing, 1997 Resolution, Refunding,          
Series B, 5.00%, 8/01/23     8,535,000   10,455,631
Virginia State Public School Authority School Financing Revenue, Series C, 5.00%,          
8/01/24     3,545,000   4,387,753
8/01/25     4,530,000   5,593,870
8/01/26     4,335,000   5,311,806
8/01/27     4,460,000   5,418,722
Virginia State Resources Authority Clean Water Revenue, Revolving Fund, Refunding, Series B,          
5.00%,        
10/01/24     10,505,000   13,155,517
10/01/25     11,055,000   13,789,896
10/01/26     26,155,000   32,344,581
          165,471,076
Washington 3.5%          
Energy Northwest Electric Revenue, Columbia Generating Station, Refunding, Series A, 5.00%,          
7/01/22     3,250,000   3,963,148
7/01/23     3,500,000   4,322,605
7/01/24     1,250,000   1,555,500
King County Sewer Revenue, Refunding, Series B, 5.00%,          
7/01/25     1,200,000   1,472,760
7/01/26     1,200,000   1,460,376
7/01/27     1,900,000   2,291,096
7/01/28     3,050,000   3,641,426
7/01/29     2,600,000   3,082,898
Seattle Drain and Wastewater Revenue, Refunding, 5.00%,          
5/01/24     5,230,000   6,531,956
5/01/25     5,500,000   6,812,080
5/01/26     2,995,000   3,673,128
5/01/27     3,150,000   3,828,321
Seattle Municipal Light and Power Revenue, Refunding and Improvement, Series B, 5.00%,          
2/01/19     6,805,000   7,797,781
2/01/20     7,000,000   8,198,470
Washington State GO,          
Motor Vehicle Fuel Tax, Refunding, Series B, 5.00%, 7/01/25     29,370,000   36,212,329
Refunding, Series R-2015C, 5.00%, 7/01/27     25,075,000   30,480,919
Various Purpose, Series D, 5.00%, 2/01/24     13,285,000   15,853,920
Various Purpose, Series D, 5.00%, 2/01/25     13,955,000   16,583,983
          157,762,696
Wisconsin 0.3%          
Wisconsin State Transportation Revenue, Series 1, 5.00%, 7/01/24     10,000,000   12,087,400
U.S. Territories 0.6%          
Guam 0.1%          
Guam Government Limited Obligation Revenue, Section 30, Series A, 5.50%,          
12/01/18     1,540,000   1,759,527
12/01/19     1,025,000   1,197,395
          2,956,922

 

78 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Intermediate-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
U.S. Territories (continued)        
Puerto Rico 0.5%        
Puerto Rico Commonwealth GO, Public Improvement,        
Refunding, Series A, 5.50%, 7/01/18 $ 8,455,000 $ 7,366,588
Series A, 5.00%, 7/01/23   4,000,000   2,920,000
Series A, 5.25%, 7/01/23   3,500,000   2,572,500
Series A, FGIC Insured, 5.50%, 7/01/21   2,500,000   2,186,400
Puerto Rico Electric Power Authority Power Revenue, Refunding, Series SS, NATL Insured, 5.00%,        
7/01/24   10,000,000   9,955,300
        25,000,788
Total U.S. Territories       27,957,710
 
Total Municipal Bonds before Short Term Investments        
(Cost $3,947,662,591)       4,228,528,933
 
Short Term Investments 3.9%        
Municipal Bonds 3.9%        
Florida 0.5%        
bSarasota County Public Hospital District Revenue, Sarasota Memorial Hospital Project, Refunding,        
Series B, Daily VRDN and Put, 0.02%, 7/01/37   22,810,000   22,810,000
Kentucky 0.6%        
bKentucky State Economic Development Finance Authority Hospital Revenue, Baptist Healthcare        
System Obligated Group, Refunding, Series B-1, Daily VRDN and Put, 0.01%, 8/15/38   27,000,000   27,000,000
Minnesota 1.1%        
bMinneapolis and St. Paul Housing and RDA Health Care System Revenue,        
Allina Health System, Refunding, Series B-1, Daily VRDN and Put, 0.01%, 11/15/35   24,875,000   24,875,000
Health Care Facilities, Children’s Hospitals and Clinics, Series B, AGMC Insured, Daily VRDN        
        and Put, 0.01%, 8/15/25   23,500,000   23,500,000
        48,375,000
North Carolina 0.6%        
bThe Charlotte-Mecklenburg Hospital Authority Health Care Revenue, Carolinas HealthCare System,        
Refunding, Series B, Daily VRDN and Put, 0.02%, 1/15/38   27,100,000   27,100,000
Pennsylvania 1.1%        
bGeisinger Authority Health System Revenue, Geisinger Health System, Refunding, Series A,        
Daily VRDN and Put, 0.01%, 5/15/35   52,400,000   52,400,000
Total Short Term Investments (Cost $177,685,000)       177,685,000
Total Investments (Cost $4,125,347,591) 96.4%       4,406,213,933
Other Assets, less Liabilities 3.6%       164,161,660
Net Assets 100.0%     $ 4,570,375,593

 

See Abbreviations on page 168.

aSecurity purchased on a when-issued basis. See Note 1(b).
bVariable rate demand notes (VRDNs) are tax-exempt obligations which contain a floating or variable interest rate adjustment formula and an unconditional right of demand
to receive payment of the principal balance plus accrued interest at specified dates. The coupon rate shown represents the rate at period end.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 79


 

FRANKLIN TAX-FREE TRUST                              
 
 
Financial Highlights                              
Franklin Federal Limited-Term Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 10.51   $ 10.56   $ 10.60   $ 10.29   $ 10.35  
Income from investment operationsb:                              
    Net investment incomec   0.11     0.13     0.18     0.20     0.21  
    Net realized and unrealized gains (losses)   (0.05 )   (0.05 )   (0.04 )   0.31     (0.05 )
Total from investment operations   0.06     0.08     0.14     0.51     0.16  
Less distributions from net investment income   (0.10 )   (0.13 )   (0.18 )   (0.20 )   (0.22 )
Net asset value, end of year $ 10.47   $ 10.51   $ 10.56   $ 10.60   $ 10.29  
 
Total returnd   0.60 %   0.76 %   1.32 %   4.95 %   1.52 %
 
Ratios to average net assets                              
Expenses before waiver and payments by affiliates   0.70 %   0.84 %   0.84 %   0.85 %   0.87 %
Expenses net of waiver and payments by affiliates   0.62 %   0.60 %   0.60 %   0.57 %   0.50 %
Net investment income   1.05 %   1.25 %   1.67 %   1.88 %   2.01 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 890,556   $ 977,274   $ 778,018   $ 682,132   $ 640,865  
Portfolio turnover rate   19.64 %   20.20 %   10.94 %   5.72 %   7.40 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

80 | Annual Report | The accompanying notes are an integral part of these financial statements. franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin Federal Limited-Term Tax-Free Income Fund (continued)                          
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011 b
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 10.50   $ 10.55   $ 10.59   $ 10.29   $ 10.27  
Income from investment operationsc:                              
Net investment incomed   0.12     0.15     0.19     0.21     0.02  
  Net realized and unrealized gains (losses)   (0.04 )   (0.06 )   (0.04 )   0.30     0.01  
Total from investment operations   0.08     0.09     0.15     0.51     0.03  
Less distributions from net investment income   (0.12 )   (0.14 )   (0.19 )   (0.21 )   (0.01 )
Net asset value, end of year $ 10.46   $ 10.50   $ 10.55   $ 10.59   $ 10.29  
 
Total returne   0.75 %   0.91 %   1.47 %   5.00 %   0.33 %
 
Ratios to average net assetsf                              
Expenses before waiver and payments by affiliates   0.55 %   0.69 %   0.69 %   0.70 %   0.72 %
Expenses net of waiver and payments by affiliates   0.47 %   0.45 %   0.45 %   0.42 %   0.35 %
Net investment income   1.20 %   1.40 %   1.82 %   2.03 %   2.16 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 231,428   $ 183,518   $ 108,836   $ 80,569   $ 29,056  
Portfolio turnover rate   19.64 %   20.20 %   10.94 %   5.72 %   7.40 %

 

aFor the year ended February 29.
bFor the period February 1, 2011 (effective date) to February 28, 2011.
cThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
dBased on average daily shares outstanding.
eTotal return is not annualized for periods less than one year.
fRatios are annualized for periods less than one year.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 81


 

FRANKLIN TAX-FREE TRUST        
 
 
 
 
Statement of Investments, February 28, 2015        
 
Franklin Federal Limited-Term Tax-Free Income Fund        
    Principal    
    Amount   Value
Municipal Bonds 93.1%        
Alabama 0.7%        
Alabama State University Revenue, General Tuition and Fee, Assured Guaranty, 5.00%,        
9/01/15 $ 700,000 $ 714,083
9/01/16   730,000   770,887
East Alabama Health Care Authority Health Care Facilities Revenue, Mandatory Put 9/01/18,        
Series A, 5.25%, 9/01/36   1,000,000   1,099,490
Mobile IDBR, PCR, Alabama Power Co. Barry Plant Project, Mandatory Put 3/20/17, Series A, 1.65%,        
6/01/34   5,000,000   5,076,800
        7,661,260
Alaska 0.5%        
Valdez Marine Terminal Revenue, BP Pipelines Inc. Project, Refunding, Series A, 5.00%, 1/01/16   5,000,000   5,190,900
Arizona 2.3%        
Arizona State COP, Department of Administration, Series B, AGMC Insured, 5.00%, 10/01/15   11,975,000   12,297,367
Phoenix Civic Improvement Corp. Transit Excise Tax Revenue, Light Rail Project, Refunding, 3.00%,        
7/01/17   6,465,000   6,802,667
Pinal County Revenue, Pledged Obligations, Refunding,        
4.00%, 8/01/16   600,000   630,738
5.00%, 8/01/17   1,140,000   1,255,699
5.00%, 8/01/18   1,160,000   1,310,916
Tucson COP, Refunding, AGMC Insured,        
2.00%, 7/01/16   1,200,000   1,223,256
3.00%, 7/01/17   1,250,000   1,310,250
3.00%, 7/01/18   1,195,000   1,263,688
        26,094,581
Arkansas 0.4%        
Jefferson County PCR, Entergy Arkansas Inc. Project, Refunding, 1.55%, 10/01/17   5,000,000   5,029,000
California 6.4%        
California State Economic Recovery GO, Refunding, Series A, 5.00%, 7/01/22   8,000,000   8,497,920
California State GO,        
Refunding, 5.00%, 4/01/15   500,000   501,995
Various Purpose, Pre-Refunded, 5.00%, 8/01/35   10,000,000   10,199,100
California State Health Facilities Financing Authority Revenue, St. Joseph Health System,        
Mandatory Put 10/15/19, Series C, 5.00%, 7/01/43   3,250,000   3,774,095
Mandatory Put 10/15/20, Refunding, Series D, 5.00%, 7/01/43   5,000,000   5,947,650
California State Municipal Finance Authority Solid Waste Disposal Revenue, Waste Management Inc.        
Project, Mandatory Put 2/01/17, Series A, 1.125%, 2/01/39   5,000,000   5,035,450
California Statewide CDA Revenue,        
Temporary 40, American Baptist Homes of the West, Series B, Sub Series B-3, 2.10%, 10/01/19   2,000,000   2,001,260
Temporary 55, American Baptist Homes of the West, Series B, Sub Series B-2, 2.40%, 10/01/20   1,000,000   1,000,450
Temporary 70, American Baptist Homes of the West, Series B, Sub Series B-1, 2.75%, 10/01/21   5,880,000   5,881,000
Coachella Valley USD, GO, Refunding, BAM Insured, 4.00%,        
8/01/16   1,110,000   1,167,509
8/01/17   1,220,000   1,310,500
8/01/18   1,265,000   1,378,938
8/01/19   1,330,000   1,473,706
Glendale USD, GO, Los Angeles County, Election of 2011, Series B, 2.00%, 9/01/15   5,665,000   5,717,345
Northern California Power Agency Public Power Revenue, Hydroelectric Project No. 1, Refunding,        
Series C, Assured Guaranty, 5.00%, 7/01/15   1,000,000   1,015,850
Riverside County Transportation Commission Sales Tax Revenue, Refunding, Series A, 5.00%,        
6/01/18   1,000,000   1,132,060

 

82 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  California (continued)        
  San Francisco City and County Airport Commission International Airport Revenue, Issue 32G,        
  Refunding, Second Series, NATL Insured, 5.00%, 5/01/23 $ 11,675,000 $ 12,268,440
  San Jose RDA Tax Allocation, Merged Area Redevelopment Project, Series A, 6.125%, 8/01/15   1,540,000   1,562,330
  Southern California Public Power Authority Gas Project Revenue, Project No. 1, Series A, 5.00%,        
  11/01/15   1,000,000   1,025,560
  Tustin USD School Facilities ID No. 2002-1 GO, Capital Appreciation, Election of 2002, Series C,        
  AGMC Insured, zero cpn., 6/01/18   810,000   779,941
          71,671,099
  Colorado 0.8%        
  Douglas County School District No. Re-1 Douglas and Elbert Counties GO, Refunding,        
  4.00%, 12/15/15   1,450,000   1,493,065
  5.00%, 12/15/18   2,800,000   3,198,804
  El Paso County GO, School District No. 20, Refunding, 4.00%, 12/15/15   1,000,000   1,029,620
  Garfield County School District No. 16 GO, Refunding, 3.00%, 12/01/18   1,115,000   1,169,379
  Regional Transportation District COP, Transit Vehicles Project, Series A, AMBAC Insured, 5.00%,        
  12/01/15   1,500,000   1,552,410
          8,443,278
  Connecticut 3.1%        
  Connecticut State Health and Educational Facilities Authority Revenue, Yale University Issue,        
  Mandatory Put 2/01/17, Series T-2, 0.60%, 7/01/29   5,000,000   4,998,100
  Mandatory Put 7/26/17, Series A, 0.80%, 7/01/48   6,500,000   6,496,945
  Mandatory Put 2/08/18, Series A-3, 0.875%, 7/01/49   23,070,000   23,040,009
          34,535,054
  Florida 6.1%        
  Brevard County Health Facilities Authority Health Care Facilities Revenue, Health First Inc. Project,        
Pre-Refunded, 5.00%, 4/01/34   16,250,000   17,079,887
  Citizens Property Insurance Corp. Revenue, High-Risk Account, senior secured, Series A-1,        
  5.50%, 6/01/17   5,000,000   5,524,550
  6.00%, 6/01/17   8,000,000   8,910,880
  Assured Guaranty, 5.50%, 6/01/16   5,000,000   5,307,750
  Escambia County Solid Waste Disposal Revenue, Gulf Power Co. Project, Mandatory Put 6/02/15,        
  1.35%, 4/01/39   7,500,000   7,517,775
  Florida State Board of Education Lottery Revenue, Refunding, Series B, AMBAC Insured, 5.00%,        
  7/01/18   11,480,000   12,286,470
  Jacksonville Sales Tax Revenue, Better Jacksonville, Refunding, 5.00%, 10/01/16   2,000,000   2,141,340
  aLakeland Electric and Water Revenue, Refunding, Weekly FRN, 0.77%, 10/01/17   3,000,000   3,020,850
  Lee County Transportation Facilities Revenue, Refunding, AGMC Insured, 5.00%, 10/01/19   2,385,000   2,781,459
  Miami-Dade County IDA Solid Waste Disposal Revenue, Waste Management Inc. of Florida Project,        
  1.75%, 9/01/27   2,000,000   2,001,760
Miami-Dade County Public Facilities Revenue, Jackson Health System, Assured Guaranty, 4.00%,        
  6/01/16   1,580,000   1,652,396
          68,225,117
  Georgia 3.4%        
  Atlanta Water and Wastewater Revenue, Refunding, Series B, AGMC Insured, 4.00%, 11/01/15   6,390,000   6,550,964
  Burke County Development Authority PCR, Georgia Power Co. Plant Vogtle Project,        
  First Series, Mandatory Put 6/01/17, 1.75%, 12/01/49   5,000,000   5,060,150
  Second Series, Mandatory Put 6/01/17, 1.75%, 12/01/49   5,000,000   5,076,200
  Cobb County Development Authority Revenue, Georgia Waste Management Project, Series A,        
  Mandatory Put 10/01/19, 1.875%, 4/01/33   2,500,000   2,521,925

 

franklintempleton.com Annual Report | 83


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Georgia (continued)        
  Georgia State GO,        
  Refunding, Series C, 5.00%, 7/01/21 $ 2,350,000 $ 2,598,160
  Series G, 5.00%, 10/01/17   10,000,000   10,741,200
  Monroe County Development Authority PCR, Gulf Power Co. Project, Mandatory Put 6/21/17,        
  First Series, 1.70%, 6/01/49   5,000,000   5,101,050
          37,649,649
  Idaho 0.1%        
  Canyon County School District No. 131 GO, Refunding, 4.00%, 8/15/18   1,480,000   1,583,215
  Illinois 7.9%        
  Chicago Housing Authority Capital Program Revenue, AGMC Insured,        
  ETM, 5.00%, 7/01/16   5,000,000   5,293,300
Pre-Refunded, 5.00%, 7/01/19   7,455,000   7,892,310
  Chicago Wastewater Transmission Revenue, second lien, Series A, BHAC Insured,        
  5.00%, 1/01/16   1,425,000   1,477,483
  5.50%, 1/01/17   1,000,000   1,090,140
  Dolton GO, Refunding, Series B, AGMC Insured, 3.50%, 12/01/15   1,245,000   1,263,003
  Franklin Park GO, Cook County, Alternative Revenue Source, Refunding, Series A, BAM Insured,        
  4.00%, 7/01/17   1,010,000   1,075,357
  Homer Glen Village GO, Will and Cook Counties, Series A,        
  2.00%, 12/01/15   1,000,000   1,009,220
  4.00%, 12/01/18   1,000,000   1,074,730
  Illinois State Educational Facilities Authority Revenue, University of Chicago, Mandatory Put 2/01/19,        
  1.65%, 7/01/25   10,000,000   10,013,100
  Illinois State GO,        
  AGMC Insured, 5.50%, 5/01/15   5,000,000   5,040,750
  AGMC Insured, 5.00%, 9/01/16   9,000,000   9,202,680
  Refunding, AGMC Insured, 5.00%, 1/01/16   7,000,000   7,253,610
  Illinois State Sales Tax Revenue, Build Illinois, Junior Obligation, Refunding, 5.00%, 6/15/17   5,000,000   5,485,550
  Illinois State Toll Highway Authority Revenue, Senior, Refunding, Series B, 5.00%, 12/01/17   10,000,000   11,165,500
  Illinois State Unemployment Insurance Fund Building Receipts Revenue, Series B, 5.00%,        
  12/15/17   6,000,000   6,494,760
  Mount Vernon GO, Jefferson County, AGMC Insured, 3.00%,        
  12/15/17   1,430,000   1,497,768
  12/15/18   1,475,000   1,553,780
  Regional Transportation Authority Revenue, Series A, NATL Insured, 5.00%, 7/01/21   5,410,000   5,733,301
  Southwestern Development Authority Revenue, Local Government Program, Edwardsville        
  Community Unit School District No. 7 Project, Refunding, AGMC Insured, 5.25%, 12/01/20   4,475,000   4,972,575
          88,588,917
  Indiana 1.2%        
  Decatur Township Multi-School Building Corp. Revenue, first mortgage, Series B, Refunding,        
  AGMC Insured, 3.50%, 1/15/23   10,000,000   10,254,400
  Indiana Health Facilities Financing Authority Revenue, Ascension Health, Mandatory Put 8/01/17,        
  Series A-5, 2.00%, 11/01/27   3,500,000   3,603,355
          13,857,755
  Kansas 0.1%        
  Kansas State Department of Transportation Highway Revenue, Refunding, Series A-3, 0.32%,        
  9/01/15   1,500,000   1,501,635

 

84 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Kentucky 0.6%        
Louisville/Jefferson County Metro Government PCR, Louisville Gas and Electric Co. Project,        
Mandatory Put 8/01/19, 2.20%, 2/01/35 $ 7,000,000 $ 6,992,300
Louisiana 0.5%        
England District Sub-District No. 1 Revenue, Economic Development Project, Refunding,        
4.00%, 8/15/15   2,780,000   2,823,284
5.00%, 8/15/16   2,505,000   2,655,701
        5,478,985
Maryland 2.1%        
aHoward County Housing Commission Revenue, Columbia Landing Project, Mandatory Put 7/01/18,        
Series A, Weekly FRN, 1.27%, 7/01/34   6,000,000   6,013,260
Maryland State Department of Transportation Consolidated Transportation Revenue, Refunding,        
5.00%, 5/01/19   7,500,000   8,672,400
Maryland State GO, Refunding, First Series B, 4.50%, 8/01/19   8,000,000   9,163,520
        23,849,180
Massachusetts 2.3%        
Massachusetts State Development Finance Agency Revenue, Boston University Issue, Refunding,        
Series Z-1, 1.50%, 8/01/19   7,000,000   7,032,760
Massachusetts State Federal Highway Revenue, Grant Anticipation Notes, Accelerated Bridge        
Program, Series A, 5.00%, 6/15/19   11,370,000   13,198,296
Massachusetts State Health and Educational Facilities Authority Revenue,        
Amherst College Issue, Mandatory Put 12/01/17, Series H, 0.80%, 11/01/33   4,000,000   3,995,680
Cape Cod Healthcare Obligated Group, Series D, Assured Guaranty, 4.00%, 11/15/15   1,000,000   1,025,320
        25,252,056
Michigan 3.2%        
Detroit GO, Distributable State Aid, 5.00%, 11/01/16   6,120,000   6,317,309
Garden City GO, Refunding, AGMC Insured, 4.00%,        
4/01/15   1,215,000   1,217,345
4/01/16   1,415,000   1,445,083
Jackson GO, Downtown Development, AGMC Insured, zero cpn., 6/01/16   1,370,000   1,351,628
Michigan State Building Authority Revenue, Facilities Program, Refunding, Series I-A, 5.00%,        
10/15/17   1,500,000   1,661,805
Michigan State Finance Authority Revenue,        
Refunding, Unemployment Obligation Assessment, Series B, 5.00%, 7/01/20   10,000,000   11,592,200
School District of the City of Detroit, Refunding, 5.00%, 6/01/15   1,700,000   1,714,909
School District of the City of Detroit, Refunding, 5.00%, 6/01/16   1,600,000   1,663,552
Royal Oak Hospital Finance Authority Hospital Revenue, William Beaumont Hospital Obligated Group,        
Series W, ETM, 5.25%, 8/01/17   7,000,000   7,782,460
Western Townships Utilities Authority Revenue, Sewage Disposal System, Refunding, 3.00%,        
1/01/17   1,000,000   1,042,930
        35,789,221
Minnesota 1.1%        
Circle Pines ISD No. 12 GO, School Building, Minnesota School District Credit Enhancement        
Program, Capital Appreciation, Series A, zero cpn., 2/01/19   650,000   616,700
Hennepin County GO, Refunding, Series B, 5.00%, 12/01/18   3,315,000   3,802,040
Minneapolis-St. Paul Metropolitan Airports Commission Airport Revenue, Refunding, Series B,        
NATL Insured, 5.00%, 1/01/23   5,925,000   6,376,011
Otsego GO, Water and Sewer, Refunding, Series C, AGMC Insured, 2.00%, 12/01/16   2,000,000   2,037,920
        12,832,671

 



 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Missouri 0.4%        
Jackson County Reorganized School District No. 7 GO, LEE’s Summit R-7, Refunding, 2.00%,        
3/01/16 $ 1,800,000 $ 1,830,636
Springfield School District No. R-12 GO, Missouri Direct Deposit Program, Refunding, 3.00%,        
3/01/16   1,000,000   1,026,720
3/01/17   1,500,000   1,569,945
        4,427,301
Nevada 4.7%        
Clark County School District GO, Building,        
Series B, AMBAC Insured, 5.00%, 6/15/20   12,250,000   13,381,042
Series C, 5.00%, 6/15/23   9,920,000   11,016,854
Nevada State GO,        
Capital Improvement and Cultural Affairs, Series C, 5.00%, 6/01/20   7,115,000   8,005,869
Nevada Municipal Bond Bank Project Nos. R-9A R-9B R-9C R-10 R-11 and R-12, Series F,        
AGMC Insured, 5.00%, 12/01/20   4,260,000   4,310,311
Truckee Meadows Water Authority Water Revenue, Refunding, AGMC Insured, 4.25%, 7/01/21   15,010,000   16,135,300
        52,849,376
New Hampshire 0.3%        
New Hampshire State GO, Refunding, Series A, 5.00%, 7/01/18   2,610,000   2,959,740
New Jersey 5.3%        
Bergen County GO, General Improvement, 4.00%, 11/15/15   5,100,000   5,237,853
Gloucester County Improvement Authority Solid Waste Resource Recovery Revenue, Waste        
Management Inc. Project, Mandatory Put 12/01/17, Refunding, Series A, 2.125%, 12/01/29   3,000,000   3,086,910
Jersey City GO, General Improvement and Qualified Water Improvement, Refunding, Series A,        
BAM Insured, 4.00%,        
8/01/18   2,000,000   2,170,320
8/01/19   1,330,000   1,462,348
New Jersey EDA Revenue,        
Cigarette Tax, Refunding, 5.00%, 6/15/15   3,160,000   3,201,333
School Facilities Construction, Refunding, Series DD-1, 5.00%, 12/15/16   10,000,000   10,698,500
aSchool Facilities Construction, Series H, Weekly FRN, 0.92%, 2/01/17   3,000,000   3,015,480
School Facilities Construction, Series N-1, NATL Insured, Pre-Refunded, 5.00%, 9/01/18   6,600,000   6,758,268
New Jersey State Environmental Infrastructure Trust Revenue,        
Environmental-2012, Series A, Pre-Refunded, 5.00%, 9/01/22   15,000   16,037
Environmental-2013, Series A, Pre-Refunded, 5.00%, 9/01/22   80,000   85,654
Environmental-2014, Series A, 5.00%, 9/01/22   3,025,000   3,231,275
New Jersey State GO, Refunding, Series Q, 5.00%, 8/15/18   15,885,000   17,894,294
Ocean County GO, Refunding, 5.00%, 8/01/19   1,125,000   1,312,222
Rutgers State University GO, The State University of New Jersey, Refunding, Series J, 5.00%,        
5/01/17   1,000,000   1,092,170
        59,262,664
New Mexico 1.7%        
New Mexico Educational Assistance Foundation Revenue, Education Loan, Series A-1, 4.00%,        
12/01/15   4,000,000   4,111,200
New Mexico State Severance Tax Revenue, Series A, 4.00%, 7/01/20   11,640,000   12,695,050
Taos County Gross Receipts Tax Revenue, County Education Improvement, BAM Insured,        
3.00%, 4/01/16   1,000,000   1,017,980
3.00%, 4/01/17   750,000   768,240
3.50%, 4/01/19   1,000,000   1,034,960
        19,627,430

 

86 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New York 11.2%        
Beekmantown CSD, GO, Refunding, AGMC Insured,        
4.00%, 6/15/15 $ 1,245,000 $ 1,257,936
2.00%, 6/15/16   1,075,000   1,085,610
East Meadow Union Free School District GO, Nassau County, Refunding,        
3.00%, 8/15/15   1,000,000   1,012,600
4.00%, 8/15/16   1,000,000   1,052,340
4.00%, 8/15/17   1,000,000   1,079,170
Freeport GO, Public Improvement, Refunding, Series A, 5.00%, 1/15/19   1,920,000   2,170,541
MTA Service Contract Revenue, Transportation Facilities, Series O, ETM, 5.50%, 7/01/17   9,220,000   10,013,381
New York City GO,        
Fiscal 2008, Refunding, Series A-1, 5.00%, 8/01/19   20,000,000   22,004,600
Refunding, Series G, 5.25%, 8/01/16   9,010,000   9,629,708
Refunding, Series G, 5.00%, 8/01/20   7,000,000   8,248,100
New York City Transitional Financial Authority Revenue, Future Tax Secured, Refunding,        
Sub Series A-2, 5.00%, 11/01/16   5,175,000   5,214,382
New York State Dormitory Authority Revenues, Non-State Supported Debt,        
Municipal Health Facilities Improvement Program, Lease, New York City Issue, Refunding,        
Series 1,5.00%, 1/15/19   4,000,000   4,421,840
Rochester General Hospital, Radian Insured, ETM, 5.00%, 12/01/15   100,000   103,448
School District Financing Program, Series A, AGMC Insured, 5.00%, 10/01/15   1,000,000   1,027,270
Wyckoff Heights Medical Center, Refunding, 4.00%, 2/15/18   2,200,000   2,389,178
New York State Dormitory Authority State Personal Income Tax Revenue,        
Education, Series C, 5.00%, 12/15/18   2,785,000   3,014,651
Education, Series C, Pre-Refunded, 5.00%, 12/15/18   3,380,000   3,652,394
General Purpose, Refunding, Series A, 5.00%, 12/15/19   6,095,000   7,152,300
New York State Environmental Facilities Corp. Special Obligation Revenue, Riverbank State Park,        
Refunding, CIFG Insured, 5.00%, 4/01/16   200,000   210,214
New York State GO, Series A, 5.00%, 3/01/18   1,130,000   1,227,587
New York Thruway Authority General Junior Indebtedness Obligations Revenue, Series A, 5.00%,        
5/01/19   15,000,000   17,219,550
Patchogue-Medford Union Free School District GO, Refunding, Series B, 3.00%, 7/01/16   1,000,000   1,033,380
Poughkeepsie Town GO, Public Improvement, Refunding, AGMC Insured, 5.00%, 4/15/15   250,000   251,380
Rochester GO, Refunding, Series IV, 2.00%, 10/15/15   1,850,000   1,870,868
St. Lawrence County IDA Civic Facility Revenue, St. Lawrence University Project, Series A, 5.00%,        
10/01/16   9,910,000   10,598,943
Suffolk County EDC Revenue, Catholic Health Services of Long Island Obligated Group Project,        
Refunding, 5.00%,        
7/01/16   1,250,000   1,320,587
7/01/17   3,000,000   3,284,520
Tobacco Settlement Financing Corp. Revenue, Asset-Backed, State Contingency Contract Secured,        
Refunding, Series B, 5.00%, 6/01/20   4,000,000   4,045,480
        125,591,958
North Carolina 0.9%        
Charlotte COP, Transit Projects, Phase III, Series B, 3.00%, 6/01/22   7,500,000   7,824,825
North Carolina Eastern Municipal Power Agency Power System Revenue, Refunding, Series A,        
Assured Guaranty, 5.25%, 1/01/19   2,350,000   2,637,993
        10,462,818

 

franklintempleton.com Annual Report | 87


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Ohio 4.5%        
  Akron COP, District Energy Project, 2.75%, 12/01/16 $ 975,000 $ 1,009,876
  American Municipal Power-Ohio Inc. Revenue, Prairie State Energy Campus Project, Refunding,        
  Series A, 5.00%, 2/15/20   7,000,000   8,120,420
  Butler County GO, Various Purpose, Refunding, 3.00%,        
  12/01/15   935,000   954,747
  12/01/16   500,000   522,095
  Cleveland Airport System Revenue,        
  Refunding, Series A, AGMC Insured, 5.00%, 1/01/19   7,870,000   8,886,961
  Series C, Assured Guaranty, 5.00%, 1/01/16   5,140,000   5,327,096
  Cleveland Public Power System Revenue, Refunding, Series A-1, NATL Insured,        
  5.00%, 11/15/20   2,370,000   2,526,207
   Pre-Refunded, 5.00%, 11/15/20   2,630,000   2,834,404
  Hamilton GO, Various Purpose, Street Improvement and Building, Refunding, 2.00%, 11/01/15   1,465,000   1,482,624
  Northeast Regional Sewer District Revenue, Refunding, 5.00%, 11/15/17   5,750,000   6,404,522
  Ohio State Department of Administrative Services COP, Administrative Knowledge System Project,        
  Series A, NATL Insured, Pre-Refunded, 5.25%, 9/01/15   6,205,000   6,205,000
  Ohio State Higher Educational Facilities Commission Revenue, Case Western Reserve University        
  Project, 4.00%, 12/01/17   2,225,000   2,420,844
  South-Western City School District of Ohio Franklin and Pickaway Counties GO, School Facilities        
  Construction and Improvement, 3.00%,        
  12/01/15   1,210,000   1,234,999
  12/01/16   1,265,000   1,320,673
  Toledo GO, Various Purpose Improvement, Refunding, Assured Guaranty, 3.00%, 12/01/15   1,185,000   1,208,416
          50,458,884
  Oklahoma 1.0%        
  Cleveland County Educational Facilities Authority Educational Facilities Lease Revenue, Norman        
  Public Schools Project, 5.00%, 7/01/17   3,040,000   3,332,752
  Oklahoma County ISD No. 89 GO, Oaklahoma City School District, 2.00%, 7/01/16   4,195,000   4,280,788
  Tulsa County Industrial Authority Educational Facilities Lease Revenue, Broken Arrow Public Schools        
  Project, 4.00%, 9/01/15   4,000,000   4,074,440
          11,687,980
  Pennsylvania 5.6%        
  Beaver County IDAR, Pollution Control, FirstEnergy Generation Project, Refunding, Series A, 3.50%,        
  4/01/41   3,500,000   3,635,905
  bHempfield Area School District Westmoreland County GO, Refunding,        
  3.00%, 10/15/16   965,000   1,000,416
  4.00%, 10/15/17   1,615,000   1,740,372
  Pennsylvania State Economic Development Financing Authority Exempt Facilities Revenue,        
  PPL Energy Supply LLC Project, Mandatory Put 9/01/15, Refunding, Series A, 3.00%, 12/01/38   10,000,000   10,096,900
  Philadelphia Gas Works Revenue, 1998 General Ordinance, Refunding, Tenth Series, AGMC Insured,        
  3.50%, 7/01/16   6,190,000   6,378,176
  4.00%, 7/01/17   4,795,000   5,056,519
  Philadelphia GO, Refunding, Series A, AGMC Insured, 5.25%, 8/01/17   10,000,000   11,008,700
  Philadelphia School District GO, Refunding, Series C, 5.00%,        
  9/01/15   1,500,000   1,534,680
  9/01/16   2,630,000   2,804,448
  9/01/17   2,750,000   3,005,778
  Pittsburgh School District GO, Refunding, Series A, 4.00%, 9/01/17   4,250,000   4,546,692

 

88 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Pennsylvania (continued)        
Reading School District GO, Refunding, Series A, 5.00%,        
4/01/17 $ 4,500,000 $ 4,787,190
4/01/18   4,035,000   4,367,847
South Fork Municipal Authority Hospital Revenue, Conemaugh Valley Memorial Hospital, Series A,        
Assured Guaranty, ETM,        
4.00%, 7/01/15   1,235,000   1,250,363
5.00%, 7/01/16   1,325,000   1,407,283
        62,621,269
Rhode Island 0.6%        
Rhode Island State and Providence Plantations GO, Consolidated Capital Development Loan,        
Refunding, Series A, 5.00%, 8/01/18   6,290,000   7,126,444
South Carolina 0.9%        
Charleston Educational Excellence FICO Revenue, Installment Purchase, Charleston County School        
District Project, Pre-Refunded, 5.25%, 12/01/24   10,000,000   10,378,600
Tennessee 1.6%        
Memphis Electric System Revenue, Subordinate, Refunding, 5.00%, 12/01/15   8,000,000   8,287,520
Sevier County PBA Revenue, Local Government Public Improvement, Series VII-D-1, 5.00%,        
6/01/15   9,000,000   9,103,410
        17,390,930
Texas 5.7%        
Austin Water and Wastewater System Revenue, Refunding, Series A,        
4.00%, 11/15/15   1,700,000   1,745,713
4.00%, 11/15/16   600,000   636,390
5.00%, 11/15/17   500,000   557,200
Brock ISD, GO, Capital Appreciation, PSF Guarantee, zero cpn., 8/15/16   460,000   457,415
City of Dallas Waterworks and Sewer System Revenue, Improvement, AGMC Insured, Pre-Refunded,        
5.00%, 10/01/31   5,000,000   5,138,750
Crandall ISD, GO, Refunding, Series A, PSF Guarantee, zero cpn., 8/15/15   1,000,000   996,880
Cypress-Fairbanks ISD, GO, Refunding, PSF Guarantee, 4.25%, 2/15/20   5,780,000   6,173,791
Dallas Area Rapid Transit Sales Tax Revenue, senior lien,        
AMBAC Insured, Pre-Refunded, 4.50%, 12/01/24   3,890,000   4,164,401
Refunding, AMBAC Insured, 4.50%, 12/01/24   2,830,000   3,022,440
Dallas/Fort Worth International Airport Revenue, Joint, Refunding, Series D, 5.00%, 11/01/17   2,000,000   2,231,160
Leander ISD, GO, Williamson and Travis Counties, Refunding, PSF Guarantee, zero cpn., 8/15/16   1,000,000   994,380
Tarrant County Cultural Education Facilities Finance Corp. Revenue, CHRISTUS Health,        
Refunding, Series A, Assured Guaranty, 5.75%, 7/01/18   1,085,000   1,193,207
Series A, Assured Guaranty, Pre-Refunded, 5.75%, 7/01/18   335,000   341,700
Texas State A&M University System Permanent University Fund Revenue, Refunding, 5.00%,        
7/01/19   5,845,000   6,802,469
Texas State PFAR,        
Southern University Financing System, Refunding, BAM Insured, 4.00%, 11/01/15   3,160,000   3,226,866
Southern University Financing System, Refunding, BAM Insured, 5.00%, 11/01/16   2,000,000   2,129,160
Unemployment Compensation Obligation Assessment, Refunding, Series B, 4.00%, 7/01/17   7,420,000   7,903,784
Texas State Transportation Commission Revenue, State Highway Fund, first tier,        
Refunding, Series A, 5.00%, 4/01/19   5,000,000   5,781,450
Series A, Pre-Refunded, 5.00%, 4/01/20   4,195,000   4,406,889

 

franklintempleton.com Annual Report | 89


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Texas (continued)        
Wylie ISD, GO, Collin County, Capital Appreciation Bonds, Refunding, PSF Guarantee, zero cpn.,        
8/15/16 $ 2,535,000 $ 2,514,568
8/15/17   3,775,000   3,699,236
        64,117,849
Utah 0.2%        
Nebo School District GO, Utah County, Refunding, Series A, 2.00%,        
7/01/16   1,200,000   1,207,092
7/01/17   1,000,000   1,004,210
        2,211,302
Virginia 0.1%        
Virginia State HDA Commonwealth Mortgage Revenue, Sub Series C-5, 2.45%, 7/01/19   1,400,000   1,480,822
Washington 1.9%        
King County Housing Authority Revenue, Birch Creek Apartments Project, 4.40%, 5/01/18   2,290,000   2,424,858
Pierce County School District No. 010 Tacoma GO, Refunding, Series A, AGMC Insured, 5.00%,        
12/01/19   5,575,000   5,772,355
12/01/20   5,475,000   5,668,377
Snohomish County Everett School District No. 2 GO, Refunding, 4.00%, 12/01/17   2,400,000   2,607,840
Snohomish County School District No. 103 GO, Monroe, Refunding, 2.50%, 12/01/15   3,895,000   3,960,475
Washington State Health Care Facilities Authority Revenue, MultiCare Health System, Series B,        
AGMC Insured, 4.00%, 8/15/15   625,000   635,756
        21,069,661
Wisconsin 1.8%        
Wisconsin State GO, Refunding, Series 4, 5.00%, 5/01/19   5,000,000   5,786,000
Wisconsin State Transportation Revenue, Refunding, Series A, AGMC Insured, 5.00%, 7/01/16   13,900,000   14,121,288
        19,907,288
Wyoming 1.9%        
Sweetwater County 2013 Specific Purpose Tax Joint Powers Board Revenue,        
5.00%, 12/15/17   5,370,000   5,856,791
4.00%, 6/15/18   4,510,000   4,865,839
2.125%, 12/15/18   580,000   579,466
5.00%, 12/15/18   9,000,000   9,966,330
        21,268,426
 
Total Municipal Bonds before Short Term Investments        
(Cost $1,029,628,080)       1,045,126,615
Short Term Investments 6.9%        
Municipal Bonds 6.9%        
Alabama 0.6%        
Alabama State Public School and College Authority Revenue, Pool, Refunding, Series A, 4.00%,        
3/01/15   6,585,000   6,585,000
Arizona 0.9%        
Arizona State Transportation Broad Highway Revenue, Highway, Subordinated, Refunding, Series A,        
5.00%, 7/01/15   9,380,000   9,528,673
California 0.5%        
California State Public Works Board Lease Revenue, The Regents of the University of California,        
Various University of California Project, Series G, ETM, 5.00%, 12/01/15   5,000,000   5,180,050

 

90 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Federal Limited-Term Tax-Free Income Fund (continued)          
    Principal      
    Amount   Value  
Short Term Investments (continued)          
Municipal Bonds (continued)          
Connecticut 0.4%          
cConnecticut State GO, Variable, Economic Recovery Notes, Refunding, Series A-1, Daily VRDN and          
Put, 0.22%, 7/01/16 $ 5,000,000 $ 5,000,000  
Georgia 2.6%          
Bartow County School District GO, Series A, 4.00%, 10/01/15   10,000,000   10,217,700  
cBurke County Development Authority PCR, Georgia Power Co. Plant Vogtle Project, Refunding,          
First Series, Daily VRDN and Put, 0.01%, 7/01/49   19,000,000   19,000,000  
        29,217,700  
Kansas 0.5%          
aKansas State Department of Transportation Highway Revenue, Refunding, Series B-5, Monthly FRN,          
0.515%, 9/01/19   5,700,000   5,658,903  
New Jersey 0.5%          
Garden State Preservation Trust Open Space and Farmland Preservation Revenue, Forward Delivery,          
Series B, NATL Insured, 6.375%, 11/01/15   5,000,000   5,200,600  
Pennsylvania 0.9%          
bHempfield Area School District Westmoreland County GO, Refunding, 1.00%, 10/15/15   5,430,000   5,454,218  
aPennsylvania State Turnpike Commission Turnpike Revenue, Series A, Weekly FRN, 1.17%,          
12/01/19   5,000,000   5,114,400  
        10,568,618  
Total Short Term Investments (Cost $76,888,815)       76,939,544  
Total Investments (Cost $1,106,516,895) 100.0%       1,122,066,159  
Other Assets, less Liabilities (0.0)%       (82,372 )
Net Assets 100.0%     $ 1,121,983,787  

 

See Abbreviations on page 168.

Rounds to less than 0.1% of net assets.
aThe coupon rate shown represents the rate at period end.
bSecurity purchased on a when-issued basis. See Note 1(b).
cVariable rate demand notes (VRDNs) are tax-exempt obligations which contain a floating or variable interest rate adjustment formula and an unconditional right of demand
to receive payment of the principal balance plus accrued interest at specified dates. The coupon rate shown represents the rate at period end.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 91


 

FRANKLIN TAX-FREE TRUST                              
 
 
Financial Highlights                              
Franklin High Yield Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 10.15   $ 10.98   $ 10.59   $ 9.60   $ 9.99  
Income from investment operationsb:                              
     Net investment incomec   0.46     0.47     0.46     0.51     0.52  
     Net realized and unrealized gains (losses)   0.54     (0.84 )   0.38     1.00     (0.39 )
Total from investment operations   1.00     (0.37 )   0.84     1.51     0.13  
Less distributions from net investment income   (0.47 )   (0.46 )   (0.45 )   (0.52 )   (0.52 )
Net asset value, end of year $ 10.68   $ 10.15   $ 10.98   $ 10.59   $ 9.60  
 
Total returnd   9.99 %   (3.20 )%   7.95 %   16.20 %   1.19 %
 
Ratios to average net assets                              
Expenses   0.65 %   0.63 %   0.65 %   0.64 %   0.63 %
Net investment income   4.39 %   4.64 %   4.22 %   5.12 %   5.18 %
 
Supplemental data                              
Net assets, end of year (000's) $ 5,244,428   $ 5,014,941   $ 6,559,328   $ 5,881,103   $ 5,133,343  
Portfolio turnover rate   8.29 %   17.08 %   10.47 %   8.86 %   18.18 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

92 | Annual Report | The accompanying notes are an integral part of these financial statements. franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin High Yield Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 10.31   $ 11.14   $ 10.75   $ 9.73   $ 10.12  
Income from investment operationsb:                              
Net investment incomec   0.41     0.42     0.40     0.47     0.47  
   Net realized and unrealized gains (losses)   0.55     (0.85 )   0.38     1.02     (0.40 )
Total from investment operations   0.96     (0.43 )   0.78     1.49     0.07  
Less distributions from net investment income   (0.41 )   (0.40 )   (0.39 )   (0.47 )   (0.46 )
Net asset value, end of year $ 10.86   $ 10.31   $ 11.14   $ 10.75   $ 9.73  
 
Total returnd   9.43 %   (3.77 )%   7.33 %   15.68 %   0.59 %
 
Ratios to average net assets                              
Expenses   1.20 %   1.18 %   1.20 %   1.19 %   1.18 %
Net investment income   3.84 %   4.09 %   3.67 %   4.57 %   4.63 %
 
Supplemental data                              
Net assets, end of year (000's) $ 1,100,883   $ 1,042,823   $ 1,446,670   $ 1,219,076   $ 996,921  
Portfolio turnover rate   8.29 %   17.08 %   10.47 %   8.86 %   18.18 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 93


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin High Yield Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 10.18   $ 11.02   $ 10.63   $ 9.63   $ 10.02  
Income from investment operationsb:                              
Net investment incomec   0.47     0.49     0.47     0.53     0.53  
  Net realized and unrealized gains (losses)   0.55     (0.86 )   0.38     1.00     (0.39 )
Total from investment operations   1.02     (0.37 )   0.85     1.53     0.14  
Less distributions from net investment income   (0.48 )   (0.47 )   (0.46 )   (0.53 )   (0.53 )
Net asset value, end of year $ 10.72   $ 10.18   $ 11.02   $ 10.63   $ 9.63  
 
Total return   10.16 %   (3.19 )%   8.03 %   16.37 %   1.29 %
 
Ratios to average net assets                              
Expenses   0.55 %   0.53 %   0.55 %   0.54 %   0.53 %
Net investment income   4.49 %   4.74 %   4.32 %   5.22 %   5.28 %
 
Supplemental data                              
Net assets, end of year (000's) $ 2,194,757   $ 1,737,090   $ 2,156,523   $ 1,438,591   $ 848,957  
Portfolio turnover rate   8.29 %   17.08 %   10.47 %   8.86 %   18.18 %

 

aFor the year ended February 29. bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund. cBased on average daily shares outstanding.

94 | Annual Report | The accompanying notes are an integral part of these financial statements. franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

Statement of Investments, February 28, 2015

Franklin High Yield Tax-Free Income Fund

    Units   Value
Common Stocks and Other Equity Interests (Cost $717,086) 0.0%        
Diversified Financial Services 0.0%        
a,b1155 Island Avenue LLC, LP   9,185,586 $ 717,082
 
    Principal    
    Amount    
Corporate Bonds (Cost $4,133,513) 0.1%        
Diversified Financial Services 0.1%        
c1155 Island Avenue LLC, PIK, 10.00%, 12/11/24 $ 4,133,514   4,137,242
Municipal Bonds 94.0%        
Alabama 1.6%        
Alabama State Port Authority Docks Facilities Revenue, Refunding, 6.00%, 10/01/40   6,000,000   6,967,740
Cullman County Health Care Authority GO, Refunding, Series A, 7.00%, 2/01/36   7,500,000   8,184,375
Jefferson County Sewer Revenue, wts., sub. lien, Refunding,        
Series E, zero cpn., 10/01/28   7,350,000   3,106,478
Series E, zero cpn., 10/01/29   13,465,000   5,226,036
Series E, zero cpn., 10/01/30   19,050,000   6,770,941
Series E, zero cpn., 10/01/31   24,845,000   8,091,768
Series E, zero cpn., 10/01/32   30,825,000   9,205,886
Series E, zero cpn., 10/01/33   35,700,000   9,798,936
Series E, zero cpn., 10/01/34   28,020,000   7,062,161
Series E, zero cpn., 10/01/35   15,000,000   3,474,450
Series E, zero cpn., 10/01/36   12,425,000   2,630,248
Series F, zero cpn. to 9/30/23, 7.50% thereafter, 10/01/39   75,000,000   49,124,250
Prattville IDB Environmental Improvement Revenue, International Paper Co. Projects, Series A,        
9.25%, 3/01/33   5,500,000   6,875,880
Selma IDBR, Gulf Opportunity Zone,        
International Paper Co. Project, Series A, 5.375%, 12/01/35   3,250,000   3,635,710
International Paper Co. Projects, Series A, 5.80%, 5/01/34   3,000,000   3,435,570
        133,590,429
Alaska 0.1%        
Anchorage Electric Utility Revenue, senior lien, Refunding, Series A, 5.00%, 12/01/41   8,875,000   10,075,255
Arizona 2.2%        
Arizona Health Facilities Authority Revenue, Catholic Healthcare West, Series B, Sub Series B-1,        
5.25%, 3/01/39   10,000,000   11,012,300
Downtown Phoenix Hotel Corp. Revenue, Subordinate, Series B, NATL Insured, 5.00%,        
7/01/36   10,000,000   10,089,500
Maricopa County PCC, PCR,        
El Paso Electric Co. Palo Verde Project, Series A, 7.25%, 4/01/40   20,000,000   23,547,800
Public Service Co. of New Mexico Palo Verde Project, Refunding, Series A, 6.25%, 1/01/38   15,000,000   16,702,200
Navajo County PCC Revenue, Arizona Public Service Co. Cholla Project, Mandatory Put 6/01/16,        
Refunding, Series D, 5.75%, 6/01/34   10,750,000   11,385,217
Phoenix Civic Improvement Corp. Airport Revenue,        
junior lien, Series A, 5.00%, 7/01/40   20,000,000   21,748,800
senior lien, Series A, 5.00%, 7/01/38   15,000,000   16,516,500
Pima County IDAR, Tucson Electric Power Co. Project, Series A, 5.25%, 10/01/40   15,405,000   17,255,911
Pinal County Electrical District No. 3 Electric System Revenue, Refunding, 5.25%, 7/01/41   10,000,000   11,244,200
Salt Verde Financial Corp. Senior Gas Revenue,        
5.25%, 12/01/25   6,000,000   7,268,400
5.50%, 12/01/29   11,105,000   13,573,197

 

franklintempleton.com Annual Report | 95


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Arizona (continued)        
  University Medical Center Corp. Hospital Revenue, Tucson,        
  6.00%, 7/01/24 $ 250,000 $ 288,423
  6.25%, 7/01/29   1,000,000   1,162,590
  5.00%, 7/01/35   10,175,000   10,278,988
  6.50%, 7/01/39   1,500,000   1,749,810
  Yuma County IDA Water and Sewer Exempt Facility Revenue, Far West Water and Sewer Inc.        
  Project, Refunding, Series A, 6.375%, 12/01/37   15,500,000   14,672,145
          188,495,981
  California 17.3%        
  Alvord USD, GO, Election of 2007, Refunding, Series B, AGMC Insured, zero cpn., 8/01/41   30,750,000   9,592,770
  Azusa Special Tax, CFD No. 2005-1, Improvement Area No. 1, 5.00%, 9/01/37   3,960,000   4,024,825
  Bay Area Toll Authority Toll Bridge Revenue, San Francisco Bay Area, Series F-1, Pre-Refunded,        
  5.50%, 4/01/43   29,685,000   33,953,406
  Beaumont Financing Authority Local Agency Revenue, Improvement Area No. 19C, Series A,        
  5.35%, 9/01/36   3,680,000   3,682,061
  Beaumont PFAR, Sewer Enterprise Project, Series A, Pre-Refunded, 6.90%, 9/01/23   3,140,000   3,369,628
  California County Tobacco Securitization Agency Tobacco Settlement Revenue, Asset-Backed,        
  Alameda County Tobacco Asset Securitization Corp., 5.875%, 6/01/35   3,700,000   3,700,481
  Kern County Tobacco Funding Corp., Refunding, 4.00%, 6/01/29   13,110,000   13,116,948
  California HFAR, Home Mortgage, Series K, 4.70%, 8/01/31   10,000,000   10,073,100
  California Infrastructure and Economic Development Bank Revenue, North County Center for        
Self-Sufficiency Corp. Project, AMBAC Insured, 5.00%,        
  12/01/30   10,300,000   12,311,178
  12/01/35   5,000,000   5,865,750
  California PCFA Water Facilities Revenue, American Water Capital Corp. Project, 5.25%, 8/01/40   6,000,000   6,480,900
  California State GO, Various Purpose,        
  6.00%, 4/01/38   28,725,000   34,432,945
  5.25%, 11/01/40   47,000,000   55,269,650
  Refunding, 5.25%, 3/01/30   70,000,000   82,063,800
  Refunding, 5.50%, 3/01/40   60,000,000   70,552,800
  Refunding, 5.00%, 10/01/41   10,000,000   11,267,800
  California State Health Facilities Financing Authority Revenue, Children's Hospital of Orange        
  County, Series A, 6.50%,        
  11/01/24   5,000,000   6,151,050
  11/01/38   8,000,000   9,740,640
  California State Municipal Finance Authority Revenue, Harbor Regional Center Project, 8.50%,        
  11/01/39   5,000,000   6,164,900
  California State Public Works Board Lease Revenue,        
  Trustees of the California State University, J. Paul Leonard and Sutro Library, Series J, 6.00%,        
                        11/01/29   7,365,000   8,854,277
  Trustees of the California State University, J. Paul Leonard and Sutro Library, Series J, 6.00%,        
                       11/01/34   17,560,000   20,875,504
  Various Capital Projects, Series A, 5.00%, 4/01/30   17,785,000   20,280,058
  California Statewide CDA Revenue,        
  American Baptist Homes of the West, Refunding, 6.00%, 10/01/29   3,125,000   3,493,156
  American Baptist Homes of the West, Refunding, 6.25%, 10/01/39   5,000,000   5,645,650
  Monterey Institute International, 5.50%, 7/01/31   12,920,000   14,895,468
  St. Joseph Health System, Series B, FGIC Insured, 5.75%, 7/01/47   5,000,000   5,535,400
  St. Joseph Health System, Series E, AGMC Insured, 5.25%, 7/01/47   10,000,000   10,765,700
  Sutter Health, Refunding, Series A, 5.00%, 11/15/43   25,000,000   25,632,500

 

96 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
California (continued)        
California Statewide CDA Special Tax Revenue, CFD No. 2007-01, Orinda Wilder Project, Series A,        
6.00%, 9/01/37 $ 9,905,000 $ 10,209,876
Centinela Valley UHSD, GO, County of Los Angeles, Election of 2010, Series B, AGMC Insured,        
Insured, zero cpn., 8/01/37   8,400,000   2,512,524
Chabot-Las Positas Community College District GO, Capital Appreciation, Series C, AMBAC        
zero cpn.,        
8/01/33   15,000,000   6,117,750
8/01/34   10,000,000   3,871,200
Chino CFD Special Tax, No. 2003-3, Improvement Area 2, 5.00%, 9/01/36   2,215,000   2,221,778
Chula Vista CFD Special Tax, No. 13-I, Otay Ranch Village Seven, 5.35%, 9/01/36   1,670,000   1,616,159
Compton Community College District GO, Election of 2002, Series D, BAM Insured, zero cpn.,        
8/01/30   3,425,000   1,696,060
8/01/32   4,000,000   1,708,280
8/01/34   4,560,000   1,664,081
8/01/36   5,250,000   1,650,338
8/01/37   3,065,000   893,785
8/01/38   6,000,000   1,625,460
El Dorado County CFD No. 2001-1 Special Tax, Promontory Specific Plan, 6.30%, 9/01/31   3,500,000   3,525,515
Foothill/Eastern Transportation Corridor Agency Toll Road Revenue,        
Capital Appreciation, Refunding, Series A, AGMC Insured, zero cpn. to 1/15/24, 5.50%        
               thereafter, 1/15/31   7,295,000   5,560,979
Convertible Capital Appreciation, Refunding, Series A, AGMC Insured, zero cpn. to 1/15/24,        
              5.40% thereafter, 1/15/30   10,000,000   7,560,600
junior lien, Refunding, Series C, 6.25%, 1/15/33   17,580,000   20,999,310
junior lien, Refunding, Series C, 6.50%, 1/15/43   28,790,000   34,519,786
Golden State Tobacco Securitization Corp. Tobacco Settlement Revenue, Enhanced, Asset-Backed,        
Refunding, Series A,        
5.00%, 6/01/45   15,750,000   15,922,777
AMBAC Insured, 5.00%, 6/01/45   13,250,000   13,395,352
Livermore CFD Special Tax, No. 06-1, Shea Properties, 5.40%, 9/01/36   6,595,000   6,327,902
Los Angeles Department of Airports Revenue, Los Angeles International Airport, Senior, Series D,        
5.00%, 5/15/40   52,685,000   60,029,816
Los Angeles MFR, Refunding,        
Series J-1C, 7.125%, 1/01/24   15,000   15,024
                bSeries J-2C, 8.50%, 1/01/24   110,000   110,157
Los Angeles USD, GO, Series KRY, 5.25%, 7/01/34   36,625,000   43,094,074
M-S-R Energy Authority Gas Revenue,        
Series B, 6.125%, 11/01/29   30,505,000   39,829,768
Series B, 7.00%, 11/01/34   20,000,000   28,770,000
Series C, 6.50%, 11/01/39   20,000,000   27,673,800
Novato RDA Tax Allocation, Hamilton Field Redevelopment Project, 6.75%, 9/01/40   3,750,000   4,512,600
Palmdale Elementary School District Special Tax, CFD No. 90-1, Series A, AGMC Insured,        
zero cpn., 8/01/28   1,500,000   806,685
zero cpn., 8/01/30   1,250,000   597,350
zero cpn., 8/01/31   1,250,000   567,588
zero cpn. to 8/01/25, 5.625% thereafter, 8/01/34   2,500,000   1,554,025
Perris UHSD Financing Authority Special Tax,        
5.75%, 9/01/30   1,690,000   1,749,995
6.00%, 9/01/33   2,570,000   2,662,417
6.125%, 9/01/41   5,500,000   5,696,405
Poway USD Special Tax, CFD No. 14, Del Sur, 5.25%, 9/01/36   7,465,000   7,662,225

 

franklintempleton.com Annual Report | 97


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
California (continued)        
Riverside County Transportation Commission Toll Revenue, senior lien,        
Series A, 5.75%, 6/01/44 $ 6,065,000 $ 7,034,308
Series A, zero cpn., 6/01/42   7,000,000   2,099,300
Series B, zero cpn., 6/01/32   4,000,000   1,950,240
Series B, zero cpn., 6/01/33   5,500,000   2,553,870
Series B, zero cpn., 6/01/41   5,000,000   1,571,300
Rocklin Special Tax, CFD No. 10, Whitney Ranch, 5.00%, 9/01/35   7,030,000   7,045,114
Romoland School District Special Tax, CFD No. 1,        
Improvement Area 1, 5.35%, 9/01/28   7,015,000   7,052,811
Improvement Area 1, 5.40%, 9/01/36   6,175,000   6,201,059
Improvement Area 2, 5.35%, 9/01/38   7,900,000   7,926,465
Roseville Special Tax, CFD No. 1, Westpark, 5.25%, 9/01/25   1,550,000   1,554,759
San Buenaventura Revenue, Community Memorial Health System,        
8.00%, 12/01/31   10,000,000   12,931,500
7.50%, 12/01/41   15,000,000   18,615,000
San Diego USD, GO,        
Dedicated Unlimited Ad Valorem Property Tax, Election of 2008, Capital Appreciation, Series G,        
zero cpn., 7/01/34   5,000,000   2,078,450
Dedicated Unlimited Ad Valorem Property Tax, Election of 2008, Capital Appreciation, Series G,        
zero cpn., 7/01/35   10,000,000   3,894,500
Election of 2008, Series E, zero cpn. to 7/01/32, 5.25% thereafter, 7/01/42   44,565,000   22,787,421
Election of 2008, Series E, zero cpn. to 7/01/32, 5.375% thereafter, 7/01/47   33,305,000   16,727,769
San Francisco City and County COP, Multiple Capital Improvement Projects, Series A, 5.00%,        
4/01/29   10,000,000   11,331,800
San Joaquin Hills Transportation Corridor Agency Toll Road Revenue,        
Capital Appreciation, junior lien, ETM, zero cpn., 1/01/24   52,700,000   43,980,785
Capital Appreciation, Refunding, Series A, zero cpn. to 7/15/21, 5.75% thereafter, 1/15/41   35,256,000   24,059,400
Capital Appreciation, Refunding, Series A, zero cpn. to 7/15/21, 5.75% thereafter, 1/15/42   35,256,000   24,050,233
junior lien, ETM, zero cpn., 1/01/25   45,200,000   36,563,184
junior lien, ETM, zero cpn., 1/01/26   131,900,000   102,755,376
junior lien, ETM, zero cpn., 1/01/27   139,100,000   103,689,313
Refunding, Series B, 5.25%, 1/15/44   20,000,000   21,663,800
Refunding, Series B, 5.25%, 1/15/49   25,000,000   26,975,000
San Jose Special Hotel Tax Revenue, Convention Center Expansion and Renovation Project,        
6.50%, 5/01/42   10,000,000   12,276,000
San Mateo UHSD, GO, Capital Appreciation, Election of 2010, Refunding, Series A, zero cpn.        
to 9/01/28, 6.70% thereafter, 9/01/41   20,000,000   13,259,400
San Mateo-Foster City School District GO, Capital Appreciation, Election of 2008, Series A,        
zero cpn. to 8/01/26, 6.625% thereafter, 8/01/42   40,000,000   27,850,000
Seal Beach CFD No. 2005-01 Special Tax, Pacific Gateway Business Center, 5.30%, 9/01/36   2,000,000   2,009,660
South Bayside Waste Management Authority Solid Waste Enterprise Revenue, Shoreway        
Environmental Center, Series A, 6.00%, 9/01/36   7,740,000   9,173,371
Southern California Public Power Authority Gas Project Revenue, Project No. 1, Series A, 5.25%,        
11/01/27   9,855,000   11,875,275
  b,dStockton PFA Lease Revenue, Capital Improvement Projects, Series A,        
6.75%, 9/01/29   15,905,000   397,625
7.00%, 9/01/38   12,175,000   304,375
Tustin CFD No. 06-1 Special Tax, Legacy/Columbus Villages, Series A, 6.00%, 9/01/36   19,810,000   20,583,382
        1,481,545,631

 

98 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Colorado 3.8%        
  Colorado State Health Facilities Authority Revenue, Hospital, Refunding, Series C, AGMC Insured,        
  5.25%, 3/01/40 $ 20,000,000 $ 22,424,400
  Denver City and County Airport System Revenue, Series B, 4.00%, 11/15/43   10,250,000   10,502,253
  Denver City and County Special Facilities Airport Revenue, United Air Lines Project, Refunding,        
  Series A, 5.25%, 10/01/32   5,000,000   5,274,100
  Denver Convention Center Hotel Authority Revenue, senior bond, Refunding, XLCA Insured,        
  5.00%, 12/01/30   15,000,000   15,468,900
  E-470 Public Highway Authority Senior Revenue,        
  Capital Appreciation, Series A, NATL Insured, zero cpn., 9/01/28   15,000,000   9,014,700
  Capital Appreciation, Series B, NATL Insured, zero cpn., 9/01/29   10,000,000   4,833,100
  Capital Appreciation, Series B, NATL Insured, zero cpn., 9/01/30   17,300,000   7,862,677
  Capital Appreciation, Series B, NATL Insured, zero cpn., 9/01/31   10,000,000   4,280,000
  Current Interest, Series C, 5.375%, 9/01/26   5,000,000   5,786,150
  Series A, Sub Series A-1, NATL Insured, 5.50%, 9/01/24   10,000,000   10,243,200
  Series C, Sub Series C-1, NATL Insured, 5.50%, 9/01/24   3,000,000   3,072,960
  Series D, Sub Series D-1, NATL Insured, 5.50%, 9/01/24   6,000,000   6,145,920
  Eagle County Sports and Housing Facilities Revenue, Vail Associate Project, Refunding, 6.95%,        
  8/01/19   41,200,000   42,310,752
  Plaza Metropolitan District No. 1 Revenue, Refunding, 5.00%, 12/01/40   3,000,000   3,167,580
  Public Authority for Colorado Energy Natural Gas Purchase Revenue,        
  6.125%, 11/15/23   2,465,000   3,044,324
  6.25%, 11/15/28   12,500,000   16,278,125
  6.50%, 11/15/38   90,100,000   125,411,992
  Regional Transportation District COP, Series A, 5.00%, 6/01/25   13,500,000   15,354,090
  Superior Metropolitan District No. 1 Special Revenue, Refunding, AMBAC Insured, 5.00%,        
  12/01/28   7,640,000   7,665,747
  b,eVillages Castle Rock Metropolitan District No. 4 Revenue, Refunding, 8.50%, 6/01/31   3,000,000   2,250,000
          320,390,970
  Connecticut 0.1%        
  Connecticut State Health and Educational Facilities Authority Revenue, St. Mary's Hospital Issue,        
  Refunding, Series E, 5.50%, 7/01/20   5,650,000   5,653,616
  District of Columbia 2.6%        
  District of Columbia Hospital Revenue, Children's Hospital Obligated Group, Assured Guaranty,        
  5.25%, 7/15/38   11,000,000   12,172,270
  District of Columbia Revenue,        
  American Society of Hematology Issue, 5.00%, 7/01/36   1,500,000   1,619,055
  American Society of Hematology Issue, 5.00%, 7/01/42   9,515,000   10,207,121
  Assn. of American Medical Colleges Issue, Series B, 5.25%, 10/01/36   12,425,000   13,768,764
  Assn. of American Medical Colleges Issue, Series B, 5.00%, 10/01/41   5,010,000   5,420,319
  The Catholic University of America Issue, Refunding, 5.00%, 10/01/34   3,750,000   4,111,725
  Center for Strategic and International Studies Inc. Issue, Refunding, 6.375%, 3/01/31   5,200,000   5,995,704
  Center for Strategic and International Studies Inc. Issue, Refunding, 6.625%, 3/01/41   5,500,000   6,383,080
  Deed Tax, Series A, 5.00%, 6/01/40   13,000,000   14,364,740
  The Methodist Home of the District of Columbia Issue, 6.00%, 1/01/29   4,750,000   4,750,237
  The Methodist Home of the District of Columbia Issue, Series A, 7.375%, 1/01/30   2,525,000   2,528,232
  The Methodist Home of the District of Columbia Issue, Series A, 7.50%, 1/01/39   4,580,000   4,585,679
  District of Columbia Tobacco Settlement FICO Revenue,        
Asset-Backed, Refunding, 6.50%, 5/15/33   22,000,000   27,742,220
  Capital Appreciation, Asset-Backed, Series A, zero cpn., 6/15/46   175,000,000   22,695,750

 

franklintempleton.com Annual Report | 99


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
District of Columbia (continued)        
Metropolitan Washington D.C. Airports Authority Dulles Toll Road Revenue, Capital Appreciation,        
second lien, Series C, Assured Guaranty, zero cpn. to 10/01/16, 6.50% thereafter, 10/01/41 $ 60,145,000 $ 71,387,905
Washington Convention and Sports Authority Dedicated Tax Revenue, senior lien, Convention        
Center Hotel Project, Series A, 5.00%, 10/01/40   10,000,000   11,057,400
        218,790,201
Florida 5.9%        
Bartram Springs CDD Special Assessment, Refunding, 4.75%, 5/01/34   4,400,000   4,409,064
Boggy Creek Improvement District Special Assessment Revenue, Refunding, 5.125%, 5/01/43   4,910,000   5,144,649
Brevard County Health Facilities Authority Health Facilities Revenue, Health First Inc. Project,        
Series B, Pre-Refunded, 7.00%, 4/01/39   6,500,000   8,018,205
Brooks of Bonita Springs CDD Capital Improvement Revenue, 6.85%, 5/01/31   1,145,000   1,146,305
Cape Coral Water and Sewer Revenue, Refunding, Series A, AGMC Insured, 5.00%, 10/01/42   7,500,000   8,289,900
Championsgate CDD Capital Improvement Revenue, Series A, 6.25%, 5/01/20   1,370,000   1,369,973
Citizens Property Insurance Corp. Revenue, High-Risk Account, senior secured, Series A-1, 6.00%,        
6/01/17   25,000,000   27,846,500
Collier County Educational Facilities Authority Revenue,        
Ave Maria University Inc. Project, Refunding, Series A, 6.00%, 6/01/33   5,500,000   6,269,615
Ave Maria University Inc. Project, Refunding, Series A, 6.00%, 6/01/38   12,000,000   13,633,920
Hodges University Inc. Project, 6.125%, 11/01/43   10,035,000   11,510,747
East Homestead CDD Special Assessment Revenue, 5.45%, 5/01/36   1,385,000   1,410,442
Escambia County Environmental Improvement Revenue, International Paper Co. Projects,        
Series A, 9.50%, 3/01/33   7,975,000   10,045,150
Florida State Board of Education Public Education GO, Capital Outlay, Refunding, Series D,        
6.00%, 6/01/23   5,000,000   6,521,350
Greenway ID Special Assessment Revenue, 5.125%, 5/01/43   35,275,000   36,375,580
Halifax Hospital Medical Center Hospital Revenue, Daytona Beach, Refunding and Improvement,        
Series A, 5.375%, 6/01/46   17,950,000   18,542,888
Hillsborough County IDA, PCR, Tampa Electric Co. Project, Series A, 5.65%, 5/15/18   6,525,000   7,485,545
Indian Trace Development District Special Assessment, Isles at Weston Project, 5.50%, 5/01/33   2,460,000   2,434,736
Indigo CDD Capital Improvement Revenue, Refunding,        
Series A, 7.00%, 5/01/31   775,000   750,270
b,dSeries C, 7.00%, 5/01/30   4,163,999   2,081,999
Lake Ashton CDD Revenue, Capital Improvement, Series A, 7.40%, 5/01/32   1,210,000   1,210,085
Lakeland Retirement Community Revenue, first mortgage, Carpenters Estates, Accredited        
Investors, Refunding,        
5.875%, 1/01/19   870,000   963,029
6.25%, 1/01/28   1,230,000   1,315,018
6.375%, 1/01/43   2,250,000   2,408,422
Martin County Health Facilities Authority Hospital Revenue, Martin Memorial Medical Center,        
5.50%, 11/15/42   3,800,000   4,209,374
Miami-Dade County Aviation Revenue, Miami International Airport, Refunding, Series A, 5.50%,        
10/01/41   20,850,000   24,144,508
Miami-Dade County Educational Facilities Authority Revenue, University of Miami Issue, Refunding,        
Series B, AMBAC Insured, 5.25%, 4/01/27   10,995,000   13,373,108
Miami-Dade County Expressway Authority Toll System Revenue, Series A, 5.00%, 7/01/40   44,360,000   49,550,564
Miami-Dade County Professional Sports Franchise Facilities Revenue, Capital Appreciation,        
Refunding, Series A, Assured Guaranty, zero cpn., 10/01/45   25,000,000   5,897,750
Miami-Dade County School Board COP,        
Refunding, Series A, 5.00%, 5/01/31   7,985,000   9,077,108
Refunding, Series A, 5.00%, 5/01/32   10,000,000   11,244,900
Series B, Assured Guaranty, 5.00%, 5/01/33   14,310,000   15,640,258

 

100 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Florida (continued)        
Miami-Dade County Special Obligation Revenue, Refunding, Series A, 5.00%, 10/01/30 $ 10,925,000 $ 12,419,321
  North Sumter County Utility Dependent District Utility Revenue, sub. bond,        
  6.00%, 10/01/30   3,780,000   4,389,676
  6.25%, 10/01/43   6,865,000   8,098,915
  Northern Palm Beach County ID Special Assessment, Water Control and Improvement,        
  Unit of Development No. 2C, 5.00%, 8/01/34   2,700,000   2,773,305
  Unit of Development No. 2C, 5.20%, 8/01/46   6,000,000   6,211,860
  Unit of Development No. 46, Series A, 5.35%, 8/01/41   800,000   823,792
  Orlando-Orange County Expressway Authority Revenue, Series C, 5.00%, 7/01/35   7,965,000   8,981,414
  Palm Glades CDD Revenue, Special Assessment, Series A, 5.30%, 5/01/36   1,100,000   1,111,737
  Pelican Marsh CDD Special Assessment Revenue, Refunding,        
  4.875%, 5/01/22   1,035,000   1,057,832
  5.375%, 5/01/31   1,415,000   1,455,936
  Pensacola Airport Revenue, Refunding, 6.00%, 10/01/28   7,000,000   7,804,790
    b,dPortofino Landings CDD Special Assessment, Series A, 5.40%, 5/01/38   2,705,000   1,062,335
    bRiver Place St. Lucie CDD Special Assessment Revenue, Series A, 7.625%,        
  5/01/21   680,000   673,180
  5/01/30   1,590,000   1,547,404
  Somerset CDD Revenue, Capital Improvement, 5.30%, 5/01/37   6,900,000   6,903,312
  South Broward Hospital District Revenue, South Broward Hospital District Obligated Group,        
  Refunding, 5.00%, 5/01/36   12,500,000   13,605,875
  South Miami Health Facilities Authority Hospital Revenue, Baptist Health South Florida        
  Obligated Group,        
  5.00%, 8/15/32   15,000,000   16,222,800
  Refunding, 5.00%, 8/15/42   15,500,000   16,635,840
  Verandah East CDD Revenue, Capital Improvement, Series A, 5.40%, 5/01/37   1,780,000   1,572,488
  Village CDD No. 6 Special Assessment Revenue, Refunding, 4.00%,        
  5/01/29   6,310,000   6,419,920
  5/01/35   3,960,000   3,978,216
  Village CDD No. 8 Special Assessment Revenue, 6.375%, 5/01/38   7,500,000   8,437,800
  Village CDD No. 9 Special Assessment Revenue,        
  6.75%, 5/01/31   7,620,000   9,144,305
  7.00%, 5/01/41   7,080,000   8,665,708
  Refunding, 5.00%, 5/01/22   1,555,000   1,644,475
  Refunding, 5.25%, 5/01/31   2,010,000   2,306,274
  Refunding, 5.50%, 5/01/42   2,100,000   2,444,673
  Village CDD No. 10 Special Assessment Revenue,        
  5.75%, 5/01/31   2,000,000   2,324,560
  5.00%, 5/01/32   5,800,000   6,412,132
  5.125%, 5/01/43   9,000,000   10,192,410
  6.00%, 5/01/44   8,000,000   9,377,360
  Village CDD No. 11 Special Assessment Revenue, 4.125%, 5/01/29   3,230,000   3,262,203
  Waters Edge CDD Capital Improvement Revenue, 5.30%, 5/01/36   1,500,000   1,468,155
  Westchase East CDD Capital Improvement Revenue, 7.10%, 5/01/21   735,000   735,537
  Winter Garden Village at Fowler Groves CDD Special Assessment, 5.65%, 5/01/37   1,785,000   1,811,436
          504,297,938
  Georgia 2.9%        
  Atlanta Tax Allocation, Princeton Lakes Project, 5.50%, 1/01/31   1,035,000   1,045,091
  Atlanta Water and Wastewater Revenue, Refunding,        
  f5.00%, 11/01/40   20,000,000   22,857,800
  Series A, 6.25%, 11/01/34   30,000,000   36,342,600
  Series B, AGMC Insured, 5.25%, 11/01/34   30,000,000   34,315,200

 

franklintempleton.com Annual Report | 101


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Georgia (continued)        
Baldwin County Hospital Authority Revenue, Oconee Regional Medical Center, 5.375%,        
12/01/28 $ 1,470,000 $ 1,469,927
Burke County Development Authority PCR, Oglethorpe Power Corp. Vogtle Project,        
Series C, 5.70%, 1/01/43   55,000,000   58,698,200
Series E, 7.00%, 1/01/23   25,000,000   28,393,500
Carrollton Payroll Development Authority Revenue, UWG Phase II LLC Project, AGMC Insured,        
5.00%, 6/15/40   2,000,000   2,179,160
Forsyth County Hospital Authority Revenue, Anticipation Certificates, Georgia Baptist Health Care        
System Project, ETM,        
6.25%, 10/01/18   2,840,000   3,085,774
6.375%, 10/01/28   8,000,000   10,240,640
Fulton County Residential Care Revenue, Lenbrook Project, Series A, 5.00%, 7/01/27   5,000,000   5,085,200
Gainesville RDA Educational Facilities Revenue, Riverside Military Academy Project, Refunding,        
5.125%, 3/01/37   6,500,000   6,279,585
Main Street Natural Gas Inc. Revenue, Gas Project, Series A, 5.50%,        
9/15/25   5,000,000   6,021,150
9/15/27   4,000,000   4,805,880
9/15/28   10,000,000   11,985,200
Richmond County Development Authority Environmental Improvement Revenue, International        
Paper Co. Project, Series A, 6.25%, 11/01/33   7,000,000   8,110,550
Savannah EDA Revenue, Recovery Zone Facility, International Paper Co. Project, Series A,        
6.25%, 11/01/33   4,865,000   5,636,832
        246,552,289
Hawaii 0.4%        
Hawaii State Department of Budget and Finance Special Purpose Revenue,        
Hawaii Pacific University Project, Series A, 6.875%, 7/01/43   5,595,000   6,118,412
Hawaiian Electric Co. and Subsidiary Projects, 6.50%, 7/01/39   7,500,000   8,759,100
The Queen's Health Systems, Refunding, Series A, 5.00%, 7/01/35   13,570,000   15,510,103
        30,387,615
Idaho 0.6%        
Idaho State Health Facilities Authority Revenue, St. Luke's Health System Project, Series A,        
6.75%, 11/01/37   12,500,000   14,651,750
Idaho State Housing and Finance Assn. EDR, TDF Facilities Project, Series A, 7.00%, 2/01/36   13,305,000   16,094,260
Nez Perce County PCR, Potlatch Corp. Projects, Refunding, 6.00%, 10/01/24   22,500,000   22,518,675
        53,264,685
Illinois 5.5%        
Antioch Village Special Service Area No. 1 Special Tax, Deercrest Project, 6.625%, 3/01/33   3,184,000   2,856,462
Bolingbrook GO, Will and DuPage Counties, Capital Appreciation, Refunding, Series A, zero cpn.,        
1/01/35   19,800,000   7,557,264
Bourbonnais Industrial Project Revenue, Olivet Nazarene University Project, 5.50%, 11/01/40   3,570,000   3,935,389
Bryant PCR, Central Illinois Light Co. Project, Refunding, NATL Insured, 5.90%, 8/01/23   5,000   5,019
Bureau County Township High School District No. 502 GO, School Building, Series A, BAM        
Insured, 6.625%, 10/01/43   5,250,000   6,764,310
Cary Special Tax, Special Service Area No. 2, Refunding, Radian Insured, 5.00%, 3/01/30   3,025,000   3,040,064
Chicago O'Hare International Airport Revenue,        
General Airport, third lien, Refunding, Series A, AGMC Insured, 5.00%, 1/01/38   16,500,000   17,862,075
General Airport, third lien, Series A, NATL Insured, 5.00%, 1/01/33   15,000,000   15,463,800
Passenger Facility Charge, Series B, 5.00%, 1/01/35   12,555,000   13,686,457
Passenger Facility Charge, Series B, 5.00%, 1/01/40   20,430,000   21,994,938

 

102 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Illinois (continued)        
  Chicago Transit Authority Sales Tax Receipts Revenue,        
  5.25%, 12/01/36 $ 11,000,000 $ 12,428,350
  5.00%, 12/01/44   31,260,000   35,459,781
  Chicago Waterworks Revenue, Project, second lien, 5.00%, 11/01/44   11,000,000   12,236,950
  Cook County GO, Refunding, Series C, 5.00%, 11/15/29   34,555,000   39,145,286
  Illinois Finance Authority Water Facility Revenue, American Water Capital Corp. Project, 5.25%,        
  10/01/39   15,350,000   16,402,396
  5/01/40   10,415,000   11,146,029
  Illinois State Finance Authority Revenue,        
  Advocate Health Care Network, Refunding, 5.00%, 8/01/33   3,450,000   3,975,193
  Advocate Health Care Network, Refunding, 4.00%, 8/01/38   13,000,000   13,093,990
  Institute of Technology, 6.50%, 2/01/23   1,000,000   1,144,420
  Institute of Technology, 7.125%, 2/01/34   1,500,000   1,722,360
  Lutheran Hillside Village, Refunding, 5.25%, 2/01/37   7,500,000   7,789,275
  Resurrection Health Care, Series A, AGMC Insured, 5.25%, 5/15/29   15,500,000   17,292,110
  Riverside Health System, 6.25%, 11/15/35   5,000,000   5,982,750
  Roosevelt University Project, Refunding, 6.25%, 4/01/29   2,500,000   2,822,050
  Roosevelt University Project, Refunding, 6.50%, 4/01/39   19,430,000   21,987,959
  Rush University Medical Center Obligated Group, Series B, Pre-Refunded, 7.25%, 11/01/38   10,000,000   12,235,400
  Sherman Health Systems, Series A, Pre-Refunded, 5.50%, 8/01/37   17,240,000   19,181,914
  Illinois State Finance Authority Student Housing Revenue,        
CHF-DeKalb II LLC, Northern Illinois University Project, 6.875%, 10/01/43   15,000,000   18,195,300
CHF-Normal LLC, Illinois State University Project, 7.00%, 4/01/43   7,500,000   9,038,925
  Illinois State GO,        
  5.25%, 7/01/29   15,000,000   16,606,650
  5.25%, 7/01/31   5,000,000   5,501,750
  5.50%, 7/01/38   5,000,000   5,537,500
  Metropolitan Pier and Exposition Authority Dedicated State Tax Revenue,        
  Capital Appreciation, McCormick Place Expansion Project, Refunding, Series B, AGMC        
  Insured, zero cpn., 6/15/45   18,100,000   4,355,584
  Capital Appreciation, McCormick Place Expansion Project, Series A, NATL Insured, zero cpn.,        
  6/15/35   10,000,000   4,104,100
  McCormick Place Expansion Project, Series A, 5.50%, 6/15/50   10,475,000   11,423,721
  Metropolitan Pier and Exposition Authority Hospitality Facilities Revenue, McCormick Place        
  Convention Center, ETM, 7.00%, 7/01/26   7,500,000   10,065,000
  Otter Creek Water Reclamation District Kane County GO, Separate Waterworks and Sewerage        
  Systems Alternate Revenue Source, Refunding, XLCA Insured, 5.00%, 1/01/39   3,000,000   3,159,870
  Railsplitter Tobacco Settlement Authority Revenue,        
  6.25%, 6/01/24   6,000,000   6,403,920
  Refunding, 6.00%, 6/01/28   24,650,000   29,245,746
  Wauconda Special Service Area No. 1 Special Tax, Liberty Lakes Project,        
  6.00%, 3/01/33   4,244,000   4,290,854
  6.625%, 3/01/33   5,021,000   5,029,134
  Yorkville United City Special Service Area Special Tax,        
  No. 2004-104, MPI Grande Reserve Project, 6.375%, 3/01/34   3,998,000   3,816,611
  No. 2005-108, Autumn Creek Project, 6.00%, 3/01/36   4,229,000   4,244,098
          468,230,754
  Indiana 1.5%        
  Carmel RDA Lease Rental Revenue, Multipurpose, Series A, 4.00%, 2/01/38   6,220,000   6,512,216
  Delaware County Hospital Authority Hospital Revenue, Cardinal Health System Obligated Group,        
Pre-Refunded, 5.25%, 8/01/36   5,000,000   5,343,900

 

franklintempleton.com Annual Report | 103


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Indiana (continued)        
  Indiana Finance Authority Midwestern Disaster Relief Revenue, Ohio Valley Electric Corp. Project,        
  Series A, 5.00%, 6/01/32 $ 10,000,000 $ 10,779,200
  Indiana Health and Educational Facility Financing Authority Hospital Revenue, Community        
  Foundation of Northwest Indiana Obligated Group, 5.50%, 3/01/37   8,000,000   8,599,360
  Indiana Health and Educational Facility Financing Authority Revenue, Baptist Homes of Indiana,        
Pre-Refunded, 5.25%, 11/15/35   12,000,000   12,411,600
  Indiana State Finance Authority Revenue,        
  Baptist Homes of Indiana Senior Living, 5.75%, 11/15/41   5,000,000   5,540,250
  Educational Facilities, Marian University Project, 6.375%, 9/15/41   12,500,000   14,486,750
  Greencroft Obligated Group, Series A, 7.00%, 11/15/43   5,000,000   5,797,300
  Private Activity, Ohio River Bridges East End Crossing Project, Series A, 5.00%, 7/01/40   12,500,000   13,459,625
  Indiana State Finance Authority Wastewater Utility Revenue, CWA Authority Project, first lien,        
  Series A, 4.00%, 10/01/42   22,620,000   23,580,671
  Indiana State Municipal Power Agency Power Supply System Revenue, Series B, 6.00%, 1/01/39   4,000,000   4,640,680
  Jasper County PCR, Northern Indiana Public Service Co. Project, Refunding, Series C,        
  NATL Insured,        
  5.60%, 11/01/16   10,000,000   10,742,500
  5.85%, 4/01/19   5,000,000   5,762,350
          127,656,402
  Iowa 0.5%        
  Iowa Higher Education Loan Authority Revenue, Private College Facility, Upper Iowa University        
  Project, Refunding, 6.00%, 9/01/39   11,000,000   11,499,070
  Tobacco Settlement Authority Tobacco Settlement Revenue, Capital Appreciation, Asset-Backed,        
  Refunding, Series B, 5.60%, 6/01/34   35,850,000   33,793,644
          45,292,714
  Kansas 0.1%        
  Kansas State Development Finance Authority Hospital Revenue, Adventist Health System/Sunbelt        
  Obligated Group, Refunding, Series C, 5.75%, 11/15/38   6,250,000   7,323,125
  Kentucky 1.1%        
  Kentucky Economic Development Finance Authority Hospital Revenue, Owensboro Medical Health        
  System Inc., Refunding, Series A, 6.50%, 3/01/45   18,330,000   21,178,665
  Kentucky Economic Development Finance Authority Louisville Arena Project Revenue, Louisville        
  Arena Authority Inc., Series A, Sub Series A-1, Assured Guaranty, 6.00%, 12/01/42   5,000,000   5,343,200
  Kentucky State Public Transportation Infrastructure Authority First Tier Toll Revenue, Downtown        
  Crossing Project, zero cpn. to 6/30/23,        
  6.60% thereafter, 7/01/39   10,000,000   7,300,300
  6.75% thereafter, 7/01/43   5,000,000   3,604,000
  Louisville/Jefferson County Metro Government College Revenue, Improvement, Bellarmine        
  University Inc. Project,        
  5.625%, 5/01/29   5,555,000   6,153,718
  6.125%, 5/01/39   5,000,000   5,611,900
  Louisville/Jefferson County Metro Government Health Facilities Revenue, Jewish Hospital and        
  St. Mary's HealthCare Inc. Project, Pre-Refunded, 6.125%, 2/01/37   11,500,000   13,253,290
  Ohio County PCR, Big Rivers Electric Corp. Project, Refunding, Series A, 6.00%, 7/15/31   10,500,000   10,377,465
  Owen County Waterworks System Revenue, American Water Co. Project, Series A,        
  6.25%, 6/01/39   8,000,000   9,276,800
  5.375%, 6/01/40   10,000,000   10,970,600
          93,069,938

 

104 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Louisiana 2.7%        
Beauregard Parish Revenue, Boise Cascade Corp. Project, Refunding, 6.80%, 2/01/27 $ 13,990,000 $ 14,131,859
Louisiana Local Government Environmental Facilities and CDA Revenue, Westlake Chemical        
Corp. Projects,        
6.75%, 11/01/32   41,250,000   46,606,312
Series A, 6.50%, 8/01/29   9,000,000   10,770,030
Series A-2, 6.50%, 11/01/35   8,000,000   9,617,520
Louisiana Public Facilities Authority Hospital Revenue, Franciscan Missionaries of Our Lady Health        
System Project, Series A, 6.75%, 7/01/39   10,000,000   11,995,100
Louisiana Public Facilities Authority Revenue,        
Entergy Gulf States Louisiana LLC Project, Refunding, Series A, 5.00%, 9/01/28   25,000,000   25,510,500
Ochsner Clinic Foundation Project, 6.50%, 5/15/37   5,000,000   5,914,400
Ochsner Clinic Foundation Project, 6.75%, 5/15/41   15,500,000   18,397,570
Ochsner Clinic Foundation Project, Series B, 5.25%, 5/15/38   10,000,000   10,494,100
Ochsner Clinic Foundation Project, Series B, 5.50%, 5/15/47   10,000,000   10,505,500
St. John the Baptist Parish Revenue, Marathon Oil Corp. Project, Series A, 5.125%, 6/01/37   56,075,000   59,174,265
St. Tammany Public Trust Financing Authority Revenue, Christwood Project, Refunding, 5.25%,        
11/15/29   1,200,000   1,267,116
11/15/37   1,650,000   1,683,809
Tobacco Settlement FICO Revenue, Tobacco Settlement Asset-Backed, Refunding, Series A,        
5.25%, 5/15/35   1,000,000   1,109,430
        227,177,511
Maine 0.2%        
Maine State Health and Higher Educational Facilities Authority Revenue, Maine General Medical        
Center Issue,        
6.75%, 7/01/36   4,250,000   4,833,567
7.00%, 7/01/41   10,000,000   11,421,100
Rumford PCR, Boise Cascade Corp. Project, Refunding, 6.625%, 7/01/20   4,800,000   4,848,576
        21,103,243
Maryland 0.5%        
Harford County Special Obligation Tax Allocation, Beachtree Estates Project, 7.50%, 7/01/40   7,000,000   7,441,910
Maryland State Community Development Administration Department of Housing and CDR,        
Housing, Series A, 5.875%, 7/01/16   165,000   166,332
Maryland State EDC Port Facilities Revenue, CNX MarineTerminals Inc. Port of Baltimore Facility,        
Refunding, 5.75%, 9/01/25   8,600,000   9,577,304
Maryland State EDC, EDR, Series A, 5.75%, 6/01/35   13,070,000   14,070,639
Maryland State Health and Higher Educational Facilities Authority Revenue,        
Anne Arundel Health System Issue, Series A, Pre-Refunded, 6.75%, 7/01/39   3,000,000   3,712,500
Edenwald Issue, Series A, 5.40%, 1/01/37   1,200,000   1,228,740
Washington County Hospital Issue, 6.00%, 1/01/43   6,000,000   6,524,580
        42,722,005
Massachusetts 1.3%        
Massachusetts Bay Transportation Authority Revenue,        
Assessment, Refunding, Series A, 4.00%, 7/01/37   15,000,000   15,628,050
General Transportation System, Series A, 7.00%, 3/01/21   775,000   943,214
General Transportation System, Series A, ETM, 7.00%, 3/01/21   735,000   780,732
Massachusetts State Development Finance Agency Revenue,        
Berkshire Retirement Community Issue, first mortgage, 5.60%, 7/01/19   585,000   585,807
Berkshire Retirement Community Issue, first mortgage, 5.625%, 7/01/29   1,620,000   1,621,539
North Hill Communities Issue, Series A, 6.25%, 11/15/28   2,250,000   2,511,765
North Hill Communities Issue, Series A, 6.25%, 11/15/33   2,000,000   2,195,100

 

franklintempleton.com Annual Report | 105


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Massachusetts (continued)        
Massachusetts State Development Finance Agency Revenue, (continued)        
North Hill Communities Issue, Series A, 6.50%, 11/15/43 $ 4,125,000 $ 4,547,524
Partners Healthcare System Issue, Series O-1, 5.00%, 7/01/45   10,000,000   11,495,700
Massachusetts State Development Finance Agency Solid Waste Disposal Revenue, Mandatory        
Put 5/01/19, Pre-Refunded, 5.75%, 12/01/42   3,700,000   4,402,371
Massachusetts State Educational Financing Authority Education Loan Revenue, Refunding,        
Series K, 5.25%, 7/01/29   9,440,000   10,417,418
Massachusetts State Port Authority Special Facilities Revenue, ConRAC Project, Series A,        
5.125%, 7/01/41   10,340,000   11,285,489
Massachusetts State Special Obligation Dedicated Tax Revenue, Refunding, NATL Insured, 5.50%,        
1/01/34   35,000,000   44,422,350
        110,837,059
Michigan 5.6%        
Detroit City School District GO, School Building and Site Improvement, Series A, AGMC Insured,        
6.00%, 5/01/29   15,900,000   19,123,566
Detroit GO, Distributable State Aid, 5.25%, 11/01/35   23,000,000   25,172,350
Detroit Sewage Disposal System Revenue, second lien,        
Series A, NATL Insured, 5.00%, 7/01/35   25,750,000   26,001,320
Series B, Assured Guaranty, 5.00%, 7/01/36   10,000,000   10,158,300
Series B, NATL Insured, 5.50%, 7/01/29   5,000,000   5,913,750
Series B, NATL Insured, 5.00%, 7/01/36   3,000,000   3,041,670
Detroit Water and Sewerage Department Sewage Disposal System Revenue, senior lien,        
Refunding, Series A, 5.25%, 7/01/39   12,000,000   12,983,160
Detroit Water Supply System Revenue,        
Refunding, Series D, NATL Insured, 5.00%, 7/01/33   20,430,000   20,819,804
second lien, Refunding, Series C, AGMC Insured, 5.00%, 7/01/33   11,000,000   11,194,150
Ecorse City GO, Financial Recovery, Dedicated Tax, 6.50%, 11/01/35   5,215,000   5,656,033
Garden City Hospital Finance Authority Hospital Revenue, Garden City Hospital Obligated Group,        
Series A, Pre-Refunded, 5.00%, 8/15/38   5,250,000   5,807,603
Michigan State Building Authority Revenue, Facilities Program, Refunding,        
Series I, 6.00%, 10/15/38   6,000,000   6,905,040
Series II-A, 5.375%, 10/15/41   10,000,000   11,525,000
Michigan State Finance Authority Limited Obligation Revenue, Higher Education, Thomas M.        
Cooley Law School Project, Refunding,        
6.00%, 7/01/24   3,000,000   3,119,100
6.75%, 7/01/44   5,505,000   5,946,996
Michigan State Finance Authority Revenue,        
Hospital, Beaumont Health Credit Group, Refunding, Series A, 5.00%, 8/01/31   10,000,000   11,443,400
Hospital, Trinity Health Credit Group, Refunding, Series MI, 5.00%, 12/01/39   27,600,000   30,731,496
Local Government Loan Program, Refunding, senior lien, Series C-1, 5.00%, 7/01/44   10,000,000   10,563,900
Local Government Loan Program, Refunding, senior lien, Series C-3, AGMC Insured,        
5.00%, 7/01/32   10,000,000   11,235,000
Local Government Loan Program, Refunding, senior lien, Series C-3, AGMC Insured, 5.00%,        
7/01/33   3,000,000   3,357,780
Local Government Loan Program, Refunding, senior lien, Series D-1, AGMC Insured, 5.00%,        
7/01/37   5,000,000   5,496,000
Local Government Loan Program, Refunding, senior lien, Series D-4, 5.00%, 7/01/29   11,000,000   12,164,240
Local Government Loan Program, Refunding, senior lien, Series D-4, 5.00%, 7/01/30   9,000,000   9,915,210
Local Government Loan Program, Refunding, senior lien, Series D-4, 5.00%, 7/01/34   10,000,000   10,893,300
Local Government Loan Program, senior lien, Series C-6, 5.00%, 7/01/33   10,000,000   10,909,700
School District of the City of Detroit, Refunding, 5.50%, 6/01/21   10,000,000   11,479,200

 

106 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Michigan (continued)        
Michigan State Hospital Finance Authority Revenue,        
Marquette General Hospital Obligated Group, Series A, Pre-Refunded, 5.00%, 5/15/34 $ 6,000,000 $ 6,057,240
MidMichigan Obligated Group, Series A, Pre-Refunded, 6.125%, 6/01/34   4,065,000   4,888,569
Oakwood Obligated Group, Series A, Pre-Refunded, 5.00%, 7/15/37   3,680,000   4,053,042
Trinity Health Credit Group, Refunding, Series C, 5.00%, 12/01/34   28,860,000   32,311,656
Michigan Tobacco Settlement Finance Authority Revenue, Tobacco Settlement Asset-Backed,        
Senior Series A, 6.00%,        
6/01/34   2,500,000   2,235,150
6/01/48   10,000,000   8,523,800
Royal Oak Hospital Finance Authority Hospital Revenue, William Beaumont Hospital Obligated        
Group,        
Refunding, Series D, 5.00%, 9/01/39   38,860,000   43,354,936
Series V, Pre-Refunded, 8.25%, 9/01/39   20,000,000   25,033,800
Series W, Pre-Refunded, 6.00%, 8/01/39   33,120,000   40,068,576
Wayne County Airport Authority Revenue, Detroit Metropolitan Wayne County Airport, Series B,        
BAM Insured, 5.00%, 12/01/39   5,500,000   6,253,610
        474,337,447
Minnesota 0.4%        
Minneapolis Health Care System Revenue, Fairview Health Services, Series A,        
6.625%, 11/15/28   11,000,000   12,954,700
6.75%, 11/15/32   6,250,000   7,351,562
Minnesota Agricultural and Economic Development Board Revenue, Health Care System, Fairview        
Health Services, Refunding, Series A, 6.375%, 11/15/29   175,000   175,709
St. Paul Housing and RDA Hospital Facility Revenue, HealthEast Project, 6.00%, 11/15/35   10,000,000   10,296,500
        30,778,471
Mississippi 0.8%        
Lowndes County Solid Waste Disposal and PCR, Weyerhaeuser Co. Project, Refunding,        
Series B, 6.70%, 4/01/22   18,875,000   23,901,979
Warren County Gulf Opportunity Zone Revenue, International Paper Co. Project, Series A,        
5.50%, 9/01/31   20,000,000   21,546,200
6.50%, 9/01/32   10,000,000   11,532,300
5.80%, 5/01/34   7,000,000   8,016,330
        64,996,809
Missouri 0.7%        
Missouri State Health and Educational Facilities Authority Health Facilities Revenue, Mercy Health,        
Series F, 5.00%, 11/15/45   25,000,000   28,213,500
Missouri State Joint Municipal Electric Utility Commission Power Project Revenue, Iatan 2 Project,        
Series A, 6.00%, 1/01/39   11,000,000   12,735,360
St. Louis Airport Revenue, Lambert-St. Louis International Airport, Series A-1,        
6.25%, 7/01/29   7,000,000   8,124,200
6.625%, 7/01/34   3,000,000   3,610,710
St. Louis County IDA Senior Living Facilities Revenue, Friendship Village Chesterfield, 5.00%,        
9/01/42   7,000,000   7,149,030
        59,832,800
Nebraska 0.2%        
Nebraska State Public Power District Revenue, General, Series A-2, 5.00%, 1/01/40   16,000,000   17,856,480

 

franklintempleton.com Annual Report | 107


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)          
        Principal    
        Amount   Value
  Municipal Bonds (continued)          
  Nevada 0.4%          
  Clark County ID Special Assessment,          
  Local ID No. 128, The Summerlin Centre, Series A, 5.00%, 2/01/26   $ 1,320,000 $ 1,176,410
  Local ID No. 128, The Summerlin Centre, Series A, 5.05%, 2/01/31     1,035,000   878,384
  Local ID No. 142, Mountain's Edge Local Improvement, Refunding, 5.00%, 8/01/21     1,495,000   1,639,776
  Local ID No. 151, Summerlin-Mesa, 5.00%, 8/01/20     715,000   697,390
  Local ID No. 151, Summerlin-Mesa, 5.00%, 8/01/25     2,340,000   2,154,906
  Henderson GO, Refunding, Series A, 4.00%,          
  6/01/33     5,240,000   5,565,876
  6/01/34     4,230,000   4,481,093
  Henderson Local ID Special Assessment,          
No. T-16, Limited Obligation Improvement, The Falls at Lake Las Vegas, 4.90%, 3/01/16   1,335,000   1,333,211
No. T-16, Limited Obligation Improvement, The Falls at Lake Las Vegas, 5.00%, 3/01/18   945,000   941,371
No. T-16, Limited Obligation Improvement, The Falls at Lake Las Vegas, 5.00%, 3/01/19   945,000   938,593
No. T-16, Limited Obligation Improvement, The Falls at Lake Las Vegas, 5.10%, 3/01/22   1,420,000   1,393,844
No. T-16, Limited Obligation Improvement, The Falls at Lake Las Vegas, 5.125%, 3/01/25   1,510,000   1,436,810
No. T-17, Limited Obligation Improvement, Madeira Canyon, 5.00%, 9/01/15   670,000   676,914
-No. T17, Limited Obligation Improvement, Madeira Canyon, 5.00%, 9/01/16   700,000   717,388
No. T-17, Limited Obligation Improvement, Madeira Canyon, 5.00%, 9/01/25   1,280,000   1,327,014
  Overton Power District No. 5 Special Obligation Revenue, 8.00%, 12/01/38     7,500,000   8,664,825
            34,023,805
  New Hampshire 0.2%          
  bNew Hampshire Higher Educational and Health Facilities Authority Revenue, Hillcrest Terrace          
             Issue, 7.50%, 7/01/24     11,350,000   11,356,015
  New Hampshire State Business Finance Authority Revenue, Elliot Hospital Obligated Group,          
  Series A, 6.125%, 10/01/39     5,000,000   5,663,200
            17,019,215
  New Jersey 3.3%          
  Hudson County Improvement Authority Solid Waste Systems Revenue, Refunding, Series A,          
           5.75%, 1/01/40     5,000,000   5,898,550
  New Jersey EDA Revenue, Montclair State University Student Housing Project, Provident Group,          
  Montclair Properties LLC, Series A, 5.875%, 6/01/42     5,000,000   5,674,000
  New Jersey EDA Special Facility Revenue, Continental Airlines Inc. Project,          
  4.875%, 9/15/19     17,010,000   17,938,066
  5.125%, 9/15/23     19,800,000   21,775,248
  5.25%, 9/15/29     37,900,000   41,571,373
  New Jersey Health Care Facilities Financing Authority Revenue,          
  Capital Appreciation, St. Barnabas Health Care System Issue, Refunding, Series B, zero cpn.,          
      7/01/33     57,680,000   23,450,381
  Capital Appreciation, St. Barnabas Health Care System Issue, Refunding, Series B, zero cpn.,          
      7/01/34     52,330,000   20,185,774
  St. Joseph's Healthcare System Obligated Group Issue, 6.625%, 7/01/38     27,015,000   30,354,864
  New Jersey State Transportation Trust Fund Authority Revenue,          
  Capital Appreciation, Transportation System, Series A, zero cpn., 12/15/35     6,000,000   2,212,020
  Capital Appreciation, Transportation System, Series C, zero cpn., 12/15/31     23,650,000   10,846,126
  Transportation Program, Series AA, 5.00%, 6/15/44     11,680,000   12,542,936
  Transportation System, Series A, 6.00%, 12/15/38     35,705,000   40,879,011
  Transportation System, Series A, Pre-Refunded, 6.00%, 12/15/38     19,295,000   22,912,620
  Transportation System, Series B, 5.25%, 6/15/36     10,000,000   10,913,700
  Transportation System, Series D, 5.00%, 6/15/32     14,000,000   15,348,900
            282,503,569

 

108 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New Mexico 1.8%        
Farmington PCR, Public Service Co. of New Mexico, San Juan Project, Refunding,        
Series B, 5.90%, 6/01/40 $ 58,000,000 $ 64,786,580
Series C, 5.90%, 6/01/40   18,435,000   20,592,079
Series D, 5.90%, 6/01/40   53,520,000   59,782,375
New Mexico State Hospital Equipment Loan Council First Mortgage Revenue, Haverland Carter        
Lifestyle Group, 5.00%, 7/01/42   4,000,000   4,058,520
New Mexico State Hospital Equipment Loan Council Hospital Revenue, St. Vincent Hospital,        
Series A, Radian Insured, Pre-Refunded,        
5.25%, 7/01/30   4,360,000   4,429,019
5.00%, 7/01/35   3,470,000   3,522,120
        157,170,693
New York 4.1%        
Long Island Power Authority Electric System Revenue, General, Refunding, Series A, 6.00%,        
5/01/33   12,500,000   14,496,000
MAC for City of Troy Revenue, Capital Appreciation, Series C, NATL Insured, zero cpn.,        
7/15/21   428,010   370,272
1/15/22   649,658   551,904
MTA Revenue, Transportation,        
Refunding, Series D, 5.00%, 11/15/38   8,790,000   9,989,659
Refunding, Series D, 5.25%, 11/15/40   10,000,000   11,270,300
Series A, 5.00%, 11/15/41   15,500,000   17,337,680
Series E, 5.00%, 11/15/33   10,000,000   11,454,700
Sub Series D-1, 5.00%, 11/15/39   15,000,000   17,020,800
New York City GO,        
Refunding, Series H, 6.25%, 8/01/15   5,000   5,023
Refunding, Series H, 6.125%, 8/01/25   5,000   5,021
Series F, 7.50%, 2/01/21   5,000   5,026
Series G, 7.50%, 2/01/22   5,000   5,026
New York City HDC, MFMR, 8 Spruce Street, Class F, 4.50%, 2/15/48   7,500,000   7,704,375
New York City IDA Civic Facility Revenue, Amboy Properties Corp. Project, Refunding, 6.75%,        
6/01/20   4,275,000   4,275,299
New York City IDA Special Facility Revenue,        
American Airlines Inc., JFK International Airport Project, 7.625%, 8/01/25   31,860,000   34,743,967
American Airlines Inc., JFK International Airport Project, 7.75%, 8/01/31   15,000,000   16,377,150
British Airways PLC Project, 7.625%, 12/01/32   15,550,000   15,629,305
New York City Municipal Water Finance Authority Water and Sewer System Revenue, Second        
General Resolution, Refunding, Series EE, 5.00%, 6/15/47   20,350,000   23,010,966
New York Liberty Development Corp. 3 World Trade Center Project, Class 2, Refunding, 5.375%,        
11/15/40   10,000,000   11,180,900
New York Liberty Development Corp. Liberty Revenue, Second Priority, Bank of America Tower        
at One Bryant Park Project, Class 3, Refunding, 6.375%, 7/15/49   18,500,000   21,080,750
New York Liberty Development Corp. Revenue, Goldman Sachs Headquarters Issue, 5.25%,        
10/01/35   65,000,000   77,642,500
New York State Dormitory Authority Revenues, Non-State Supported Debt, Orange Regional        
Medical Center,        
6.125%, 12/01/29   16,000,000   17,542,400
6.25%, 12/01/37   30,000,000   32,659,200
Niagara County Tobacco Asset Securitization Corp., Asset Backed, 4.00%, 5/15/29   4,500,000   4,517,100
The Port Authority of New York and New Jersey Special Project Revenue, Continental Airlines Inc.,        
Eastern Project, La Guardia, 9.125%, 12/01/15   5,135,000   5,135,051
        354,010,374

 

franklintempleton.com Annual Report | 109


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
North Carolina 0.7%        
Albemarle Hospital Authority Health Care Facilities Revenue, Pre-Refunded, 5.25%, 10/01/27 $ 4,500,000 $ 5,031,405
Columbus County Industrial Facilities and PCFA Revenue,        
Environmental Improvement, International Paper Co. Projects, Series A, 6.25%, 11/01/33   1,300,000   1,506,245
International Paper Co. Projects, Recovery Zone Facility Bonds, Series B, 6.25%, 11/01/33   4,000,000   4,634,600
North Carolina Medical Care Commission Health Care Facilities Revenue,        
Duke University Health System, Series A, 5.00%, 6/01/42   15,000,000   16,959,900
Pennybyrn at Maryfield Project, Series A, 5.75%, 10/01/23   3,625,000   3,651,318
Pennybyrn at Maryfield Project, Series A, 6.00%, 10/01/23   2,500,000   2,521,650
Pennybyrn at Maryfield Project, Series A, 5.65%, 10/01/25   2,000,000   2,011,480
Pennybyrn at Maryfield Project, Series A, 6.125%, 10/01/35   21,750,000   21,868,755
North Carolina Medical Care Commission Retirement Facilities Revenue,        
First Mortgage Galloway Ridge, Refunding, Series A, 5.25%, 1/01/41   2,720,000   2,795,208
The United Methodist Retirement Homes Project, first mortgage, Refunding, Series C, 5.25%,        
               10/01/24   920,000   928,013
The United Methodist Retirement Homes Project, first mortgage, Refunding, Series C, 5.50%,        
               10/01/32   1,600,000   1,611,280
        63,519,854
Ohio 2.0%        
American Municipal Power-Ohio Inc. Revenue, Prairie State Energy Campus Project,        
Refunding, Series A, 5.00%, 2/15/38   1,315,000   1,421,462
Refunding, Series A, 5.00%, 2/15/39   5,000,000   5,653,800
Refunding, Series A, 5.00%, 2/15/42   2,500,000   2,820,700
Series A, Pre-Refunded, 5.00%, 2/15/38   20,970,000   23,491,014
Bowling Green Student Housing Revenue, CFP I LLC, State University Project, 6.00%, 6/01/45   12,500,000   13,566,125
Buckeye Tobacco Settlement Financing Authority Revenue, Asset-Backed, Senior Current Interest        
Turbo Term Bond, Series A-2, 5.75%, 6/01/34   5,000,000   4,089,350
Butler County Hospital Facilities Revenue, UC Health, 5.50%, 11/01/40   10,000,000   11,659,500
Fairfield County Hospital Revenue, Improvement, Medical Centre Project, Refunding, 5.00%,        
6/15/43   10,000,000   10,597,100
Hamilton County Healthcare Revenue, Life Enriching Communities Project, Series A,        
6.50%, 1/01/41   4,970,000   5,760,578
6.625%, 1/01/46   2,500,000   2,892,625
Little Miami Local School District GO, School Improvement, Refunding, 6.875%, 12/01/34   5,770,000   6,813,966
Miami County Hospital Facilities Revenue, Upper Valley Medical Center, Refunding and        
Improvement, 5.25%, 5/15/26   2,750,000   2,893,440
Ohio State Air Quality Development Authority Revenue, Environmental Improvement, Buckeye        
Power Inc. Project, 6.00%, 12/01/40   15,000,000   17,520,150
Ohio State Turnpike Commission Revenue, junior lien, Series A-3, zero cpn. to 2/14/23, 5.75%        
thereafter, 2/15/35   35,000,000   29,413,300
Scioto County Hospital Facilities Revenue, Southern Ohio Medical Center, Refunding, 5.75%,        
2/15/38   17,000,000   18,908,590
Southeastern Port Authority Hospital Facilities Revenue, Memorial Health System Obligated Group        
Project, Refunding and Improvement, 6.00%, 12/01/42   12,000,000   12,965,280
        170,466,980
Oklahoma 0.1%        
Oklahoma Development Finance Authority Continuing Care Retirement Revenue, Inverness Village        
Community, Refunding, 5.75%, 1/01/37   5,000,000   5,213,700

 

110 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Oregon 0.3%        
Multnomah County Hospital Facilities Authority Revenue, Mirabella South Waterfront Project,        
Refunding, Series A,        
5.40%, 10/01/44 $ 3,000,000 $ 3,268,980
5.50%, 10/01/49   5,500,000   6,013,370
Oregon Health and Science University Revenue, Series A, 5.75%, 7/01/39   5,000,000   5,881,950
Salem Hospital Facility Authority Revenue, Capital Manor Inc., Refunding,        
5.00%, 5/15/22   1,000,000   1,098,660
5.75%, 5/15/27   1,000,000   1,140,640
5.625%, 5/15/32   1,000,000   1,119,930
6.00%, 5/15/42   3,100,000   3,390,904
6.00%, 5/15/47   2,000,000   2,162,120
        24,076,554
Pennsylvania 1.3%        
Allegheny County Higher Education Building Authority University Revenue, Carlow University        
Project, Refunding,        
6.75%, 11/01/31   1,215,000   1,446,069
7.00%, 11/01/40   2,000,000   2,397,980
Chester County IDA Revenue, Renaissance Academy Charter School Project, 5.00%,        
10/01/34   1,500,000   1,629,495
10/01/39   1,725,000   1,852,529
10/01/44   1,160,000   1,233,451
Commonwealth Financing Authority Revenue, Series B, 5.00%, 6/01/42   12,000,000   13,279,440
Delaware County IDAR, Resource Recovery Facility, Refunding, Series A, 6.20%, 7/01/19   11,805,000   11,820,228
Lancaster County Hospital Authority Revenue, Brethren Village Project, Series A,        
6.375%, 7/01/30   1,000,000   1,047,850
6.50%, 7/01/40   3,000,000   3,130,140
Northampton County General Purpose Authority Hospital Revenue, St. Luke’s Hospital Project,        
Series A, 5.50%, 8/15/40   15,000,000   16,719,000
Pennsylvania State Turnpike Commission Turnpike Revenue,        
Capital Appreciation, Series C, AGMC Insured, zero cpn. to 6/01/16, 6.25% thereafter,        
6/01/33   5,000,000   5,940,000
Motor License Fund Enhanced Turnpike, Subordinate Special, Series B-2, zero cpn. to        
11/30/28, 5.75% thereafter, 12/01/37   20,000,000   11,860,600
Motor License Fund Enhanced Turnpike, Subordinate Special, Series B-2, zero cpn. to        
12/01/28, 5.875% thereafter, 12/01/40   25,075,000   14,688,183
sub. bond, Series B, 5.75%, 6/01/39   20,000,000   22,903,200
        109,948,165
Rhode Island 0.2%        
Rhode Island State Health and Educational Building Corp. Revenue, Hospital Financing,        
Care New England Issue, Refunding, Series A, 6.00%, 9/01/33   7,320,000   8,006,763
Lifespan Obligated Group Issue, Refunding, NATL Insured, 5.75%, 5/15/23   405,000   406,486
Lifespan Obligated Group Issue, Series A, 7.00%, 5/15/39   8,200,000   9,572,106
Tobacco Settlement FICO Revenue, Asset-Backed, Series B, zero cpn., 6/01/52   90,000,000   1,942,200
        19,927,555
South Carolina 0.9%        
SCAGO Educational Facilities Corp. for Calhoun School District Revenue, School District of        
Calhoun County Project, Radian Insured, 5.00%, 12/01/26   7,540,000   7,776,832
SCAGO Educational Facilities Corp. for Williamsburg School District Revenue, School District of        
Williamsburg County Project, Refunding, Radian Insured, 5.00%, 12/01/31   2,000,000   2,045,740

 

franklintempleton.com Annual Report | 111


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
South Carolina (continued)        
South Carolina Jobs EDA Student Housing Revenue, Coastal Housing Foundation LLC Project,        
Series A, 6.50%, 4/01/42 $ 10,000,000 $ 11,519,100
South Carolina State Public Service Authority Revenue, Series B, Refunding, 5.125%, 12/01/43   52,890,000   59,865,133
        81,206,805
Tennessee 1.0%        
Johnson City Health and Educational Facilities Board Hospital Revenue, Mountain States Health        
Alliance, Capital Appreciation, first mortgage, Refunding, Series A, NATL Insured, zero cpn.,        
7/01/27   19,365,000   11,069,034
7/01/28   19,400,000   10,473,478
7/01/29   19,365,000   9,884,671
7/01/30   19,370,000   9,252,081
Knox County Health Educational and Housing Facility Board Hospital Revenue, Covenant Health,        
Refunding and Improvement, Series A, zero cpn.,        
1/01/37   12,760,000   4,179,410
1/01/39   13,755,000   4,020,311
Knox County Health Educational and Housing Facility Board Revenue, University Health        
System Inc., Refunding, 5.25%, 4/01/36   23,475,000   24,645,463
Memphis-Shelby County Airport Authority Airport Revenue, Refunding, Series B, 5.75%,        
7/01/23   5,000,000   5,881,650
7/01/24   3,500,000   4,109,455
        83,515,553
Texas 7.8%        
Austin Convention Enterprises Inc. Convention Center Hotel Revenue, second tier, Refunding,        
Series B, 5.75%, 1/01/34   15,750,000   16,128,945
Brazos County Health Facilities Development Corp. Franciscan Services Corp. Revenue,        
Obligated Group, St. Joseph Regional Health Center, 5.50%, 1/01/38   5,250,000   5,845,245
Capital Area Cultural Education Facilities Finance Corp. Revenue, The Roman Catholic Diocese        
of Austin, Series B, 6.125%, 4/01/45   10,000,000   11,542,100
Central Texas Regional Mobility Authority Revenue,        
Capital Appreciation, Refunding, zero cpn., 1/01/35   3,000,000   1,275,750
Capital Appreciation, Refunding, zero cpn., 1/01/37   2,500,000   964,900
Capital Appreciation, Refunding, zero cpn., 1/01/38   2,405,000   884,655
Capital Appreciation, Refunding, zero cpn., 1/01/39   2,545,000   891,844
senior lien, Refunding, 5.75%, 1/01/25   2,350,000   2,774,692
senior lien, Refunding, 5.75%, 1/01/31   2,500,000   2,987,175
senior lien, Refunding, 6.00%, 1/01/41   7,925,000   9,481,312
senior lien, Refunding, 6.25%, 1/01/46   24,340,000   29,039,811
Dallas/Fort Worth International Airport Revenue, Joint Improvement,        
Series A, 5.00%, 11/01/42   12,000,000   13,089,840
Series A, 5.00%, 11/01/45   50,000,000   54,460,000
Series B, 5.00%, 11/01/44   11,385,000   12,725,698
El Paso Downtown Development Corp. Special Revenue, Downtown Ballpark Venue Project,        
Series A, 7.25%, 8/15/38   15,000,000   18,047,100
Fort Bend Grand Parkway Toll Road Authority Ltd. Contract Tax and Toll Road Revenue, sub. lien,        
4.00%, 3/01/46   8,000,000   8,206,160
Grand Parkway Transportation Corp. System Toll Revenue,        
First Tier Toll, Series A, 5.125%, 10/01/43   2,850,000   3,146,001
Series B, zero cpn. to 9/30/23, 5.80% thereafter, 10/01/45   10,000,000   7,745,300

 

112 | Annual Report franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Texas (continued)        
  Harris County Cultural Education Facilities Finance Corp. Revenue, first mortgage, Brazos        
  Presbyterian Homes Inc. Project, Series B, 7.00%,        
  1/01/43 $ 3,000,000 $ 3,500,610
  1/01/48   5,250,000   6,107,220
  Harris County Health Facilities Development Corp. Hospital Revenue, Memorial Hermann        
  Healthcare System, Series B, Pre-Refunded, 7.25%, 12/01/35   13,500,000   16,596,360
  Houston Airport System Revenue, United Airlines Inc. Terminal E Project, Refunding, 4.75%,        
  7/01/24   10,000,000   10,911,900
  Lufkin Health Facilities Development Corp. Revenue, Memorial Health System of East Texas,        
Pre-Refunded, 6.25%, 2/15/37   5,000,000   5,945,000
  Matagorda County Navigation District No. 1 PCR, Central Power and Light Co. Project, Refunding,        
  Series A, 6.30%, 11/01/29   10,000,000   11,517,800
  Mesquite Health Facilities Development Corp. Revenue, Christian Care Centers Inc. Project,        
  Refunding,        
  5.00%, 2/15/36   1,000,000   1,040,950
  5.125%, 2/15/42   1,750,000   1,833,720
  New Hope Cultural Education Facilities Finance Corp. First Mortgage Revenue, Morningside        
  Ministries Project, 6.50%, 1/01/43   4,350,000   4,920,285
  New Hope Cultural Education Facilities Finance Corp. Retirement Facilities Revenue, Wesleyan        
  Homes Inc. Project, Refunding, 5.50%, 1/01/43   3,200,000   3,272,864
  New Hope Cultural Education Facilities Finance Corp. Student Housing Revenue,        
CHF-Stephenville LLC, Tarleton State University Project, Series A, 6.00%, 4/01/45   3,000,000   3,414,900
  North Texas Tollway Authority Revenue,        
  Special Projects System, Capital Appreciation, first tier, Refunding, Series I, 6.50%, 1/01/43   25,000,000   31,378,000
  Special Projects System, Capital Appreciation, Series B, zero cpn., 9/01/37   7,500,000   2,518,200
  Special Projects System, Capital Appreciation, Series C, zero cpn. to 9/01/21, 6.75%        
  thereafter, 9/01/45   25,000,000   24,553,000
  Special Projects System, Capital Appreciation, Series C, zero cpn. to 9/01/23, 7.00%        
  thereafter, 9/01/43   10,000,000   9,091,600
  System, first tier, Refunding, Series A, 5.625%, 1/01/33   1,000,000   1,108,960
  System, first tier, Refunding, Series A, 6.25%, 1/01/39   12,500,000   14,642,875
  System, first tier, Refunding, Series A, 5.75%, 1/01/48   30,000,000   32,978,400
  System, first tier, Refunding, Series B, 5.00%, 1/01/38   10,000,000   10,838,600
  System, first tier, Refunding, Series B, 5.75%, 1/01/40   11,680,000   12,972,158
  System, first tier, Refunding, Series K, Sub Series K-2, 6.00%, 1/01/38   15,000,000   17,222,250
  System, second tier, Refunding, Series F, 5.75%, 1/01/38   20,000,000   22,037,800
  Red River Health Facilities Development Corp. First Mortgage Revenue,        
  Eden Home Project, 7.25%, 12/15/42   11,000,000   10,825,760
  Wichita Falls Retirement Foundation Project, Refunding, 5.50%, 1/01/32   1,500,000   1,595,355
  Wichita Falls Retirement Foundation Project, Refunding, 5.125%, 1/01/41   2,000,000   2,041,980
  San Antonio Public Facilities Corp. Lease Revenue, Refunding and Improvement, Convention        
  Center Refinancing and Expansion Project, 4.00%,        
  9/15/33   7,910,000   8,180,364
  9/15/35   4,365,000   4,485,038
  9/15/42   39,000,000   39,659,880
  Tarrant County Cultural Education Facilities Finance Corp. Revenue,        
  Texas Health Resources System, Refunding, 5.00%, 11/15/40   15,225,000   16,716,136
  Trinity Terrace Project, The Cumberland Rest Inc., Refunding, Series A-1, 5.00%, 10/01/44   2,500,000   2,695,100
  Trinity Terrace Project, The Cumberland Rest Inc., Refunding, Series A-1, 5.00%, 10/01/49   2,625,000   2,808,304
  Texas State Municipal Gas Acquisition and Supply Corp. III Gas Supply Revenue, 5.00%,        
  12/15/30   25,000,000   27,749,250
  12/15/31   24,500,000   27,106,065
  12/15/32   10,000,000   11,027,800

 

franklintempleton.com Annual Report | 113


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Texas (continued)        
  Texas State Transportation Commission Turnpike System Revenue, first tier, Refunding,        
  Series A, 5.00%, 8/15/41 $ 5,000,000 $ 5,553,600
  Series B, 5.00%, 8/15/37   20,000,000   22,635,800
  Texas State Turnpike Authority Central Turnpike System Revenue, Capital Appreciation, AMBAC        
  Insured, zero cpn., 8/15/32   51,000,000   17,972,910
  Tyler Health Facilities Development Corp. Hospital Revenue,        
  East Texas Medical Center Regional Healthcare System Project, Refunding and Improvement,        
  Series A, 5.375%, 11/01/37   8,000,000   8,496,400
  Mother Frances Hospital Regional Health Care Center Project, Series B, 5.00%, 7/01/37   2,500,000   2,575,575
  Wood County Central Hospital District Hospital Revenue, East Texas Medical Center Quitman        
  Project, 6.00%, 11/01/41   9,350,000   10,456,198
          670,221,495
  Virginia 0.8%        
  Norfolk EDA Health Care Facilities Revenue, Sentara Healthcare, Refunding, Series B, 5.00%,        
  11/01/43   17,575,000   19,746,040
  Tobacco Settlement FICO Revenue,        
Asset-Backed, Pre-Refunded, 5.50%, 6/01/26   1,060,000   1,073,769
  Capital Appreciation, Second Subordinate, Refunding, Series D, zero cpn., 6/01/47   50,000,000   1,225,500
  Virginia Small Business Financing Authority Revenue, Elizabeth River Crossings OPCO LLC        
  Project, senior lien,        
  6.00%, 1/01/37   8,000,000   9,310,080
  5.50%, 1/01/42   35,790,000   39,238,725
          70,594,114
  Washington 2.8%        
  FYI Properties Lease Revenue, Washington State District Project, 5.50%,        
  6/01/34   11,935,000   13,878,853
  6/01/39   16,250,000   18,824,000
  Greater Wenatchee Regional Events Center Public Facilities District Revenue, Refunding, Series A,        
  5.50%, 9/01/42   3,150,000   3,344,324
  Ocean Shores Local ID No. 1 Tax Allocation, 7.25%, 2/01/31   10,615,000   13,595,267
  Skagit County Public Hospital District No. 1 Revenue, Skagit Valley Hospital, 5.75%,        
  12/01/32   2,000,000   2,185,580
  12/01/35   5,355,000   5,976,501
  bWashington State Economic Development Finance Authority Environmental Facilities Revenue,        
  Coalview Centralia LLC Project, 9.50%, 8/01/25   14,000,000   14,841,400
  Washington State GO,        
  Motor Vehicle Fuel Tax, Series B-1, 4.00%, 8/01/42   19,530,000   20,161,991
  Various Purpose, Series A, 4.00%, 8/01/36   19,290,000   19,977,881
  Washington State Health Care Facilities Authority Revenue,        
  Central Washington Health Services Assn., 7.00%, 7/01/39   8,500,000   9,869,010
  Fred Hutchinson Cancer Research Center, Refunding, Series A, 6.00%, 1/01/33   7,500,000   8,740,200
  Kadlec Medical Center, Series A, Assured Guaranty, Pre-Refunded, 5.00%, 12/01/30   4,000,000   4,316,840
  Providence Health and Services, Refunding, Series A, 5.00%, 10/01/42   19,725,000   21,927,888
  Providence Health and Services, Refunding, Series D, 5.00%, 10/01/38   18,000,000   20,621,520
  Providence Health and Services, Series A, FGIC Insured, Pre-Refunded, 5.00%, 10/01/36   305,000   327,506
  Seattle Children’s Hospital, Refunding, Series B, 5.00%, 10/01/38   10,000,000   11,419,200
  Seattle Children’s Hospital, Series A, 5.00%, 10/01/45   10,000,000   11,345,900
  Virginia Mason Medical Center, Series B, ACA Insured, 6.00%, 8/15/37   30,000,000   32,663,700
  Washington State Higher Education Facilities Authority Revenue, Whitworth University Project,        
  Refunding, 5.625%, 10/01/40   5,235,000   5,736,147
          239,753,708
 
  114 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin High Yield Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  West Virginia 0.6%        
  County Commission of Harrison County Solid Waste Disposal Revenue, Allegheny Energy        
  Supply Co. LLC Harrison Station Project, Refunding, Series D, 5.50%, 10/15/37 $ 14,745,000 $ 15,169,951
  Kanawha County Commission Student Housing Revenue, West Virginia University Foundation        
  Project, 6.75%, 7/01/45   6,650,000   7,433,968
  Pleasants County PCR, County Commission, Series F, 5.25%, 10/15/37   24,250,000   25,012,420
          47,616,339
  Wisconsin 0.5%        
  Wisconsin State General Fund Annual Appropriation Revenue, Series A, 6.00%, 5/01/33   15,000,000   17,671,050
  Wisconsin State Health and Educational Facilities Authority Revenue,        
  Beaver Dam Community Hospitals Inc., Refunding, Series A, 5.25%, 8/15/34   5,000,000   5,304,250
  Thedacare Inc., AMBAC Insured, Pre-Refunded, 5.00%, 12/15/30   9,530,000   9,887,375
  Thedacare Inc., Series A, 5.50%, 12/15/38   5,000,000   5,806,300
  Wisconsin State Public Finance Authority Revenue, Adams-Columbia Electric Cooperative,        
  Series A, NATL Insured, 5.50%, 12/01/40   6,755,000   8,015,078
          46,684,053
  Wyoming 0.3%        
  Campbell County Solid Waste Facilities Revenue, Basin Electric Power Cooperative, Dry Fork        
  Station Facilities, Series A, 5.75%, 7/15/39   5,500,000   6,465,855
  West Park Hospital District Revenue, West Park Hospital Project, Series A, 7.00%, 6/01/40   5,500,000   6,553,580
  Wyoming CDA Student Housing Revenue, CHF-Wyoming LLC, University of Wyoming Project,        
  6.25%, 7/01/31   600,000   687,000
  6.50%, 7/01/43   1,600,000   1,819,552
  Wyoming Municipal Power Agency Power Supply System Revenue, Series A,        
  5.50%, 1/01/28   1,350,000   1,499,972
  5.50%, 1/01/33   2,360,000   2,617,334
  5.50%, 1/01/38   2,810,000   3,108,169
  5.375%, 1/01/42   2,750,000   2,999,645
          25,751,107
  U.S. Territories 6.3%        
  Guam 1.4%        
  Guam Government Business Privilege Tax Revenue, Series A, 5.125%, 1/01/42   6,900,000   7,690,395
  Guam Government Department of Education COP, John F. Kennedy High School Project, Series A,        
  6.625%, 12/01/30   5,065,000   5,650,464
  6.875%, 12/01/40   4,000,000   4,469,640
  Guam Government GO,        
  Refunding, Series A, 5.125%, 11/15/27   7,270,000   7,656,473
  Refunding, Series A, 5.25%, 11/15/37   37,000,000   39,026,860
  Series A, 6.00%, 11/15/19   8,000,000   8,790,240
  Series A, 6.75%, 11/15/29   10,000,000   11,693,100
  Series A, 7.00%, 11/15/39   15,000,000   17,670,600
  Guam Government Waterworks Authority Water and Wastewater System Revenue,        
  5.625%, 7/01/40,   4,000,000   4,505,680
Pre-Refunded, 6.00%, 7/01/25   4,000,000   4,073,720
                 Pre-Refunded, 5.875%, 7/01/35   8,000,000   8,144,160
          119,371,332
  Northern Mariana Islands 0.1%        
  Northern Mariana Islands Commonwealth Ports Authority Seaport Revenue, Senior Series A,        
  6.60%, 3/15/28   6,240,000   6,365,174
 
 
  franklintempleton.com   Annual Report | 115

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
U.S. Territories (continued)        
Puerto Rico 4.2%        
Children’s Trust Fund Tobacco Settlement Revenue, Asset-Backed, Refunding,        
5.50%, 5/15/39 $ 11,500,000 $ 11,525,875
5.625%, 5/15/43   4,000,000   3,919,320
Puerto Rico Commonwealth GO, Public Improvement, Refunding, Series A,        
5.50%, 7/01/39   9,330,000   6,449,456
5.75%, 7/01/41   15,000,000   10,462,800
Puerto Rico Electric Power Authority Power Revenue,        
Refunding, Series A, 5.00%, 7/01/42   26,990,000   15,249,620
Series A, 7.25%, 7/01/30   25,000,000   14,632,500
Series A, 6.75%, 7/01/36   29,750,000   17,333,540
Series A, 7.00%, 7/01/43   5,000,000   2,912,550
Series WW, 5.50%, 7/01/38   16,355,000   9,363,401
Series XX, 5.75%, 7/01/36   8,620,000   5,022,702
Series XX, 5.25%, 7/01/40   59,030,000   33,647,690
Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing        
Authority Revenue, Cogeneration Facility, AES Puerto Rico Project, 6.625%, 6/01/26   11,865,000   11,378,772
Puerto Rico PBA Guaranteed Revenue, Government Facilities, Series S, 6.00%, 7/01/41   15,000,000   10,237,650
Puerto Rico Public Finance Corp. Revenue, Commonwealth Appropriation, Refunding, Series B,        
5.50%, 8/01/31   92,125,000   47,003,096
Puerto Rico Sales Tax FICO Sales Tax Revenue,        
Capital Appreciation, first subordinate, Series A, zero cpn., 8/01/33   12,150,000   2,175,822
Capital Appreciation, first subordinate, Series A, zero cpn., 8/01/34   4,000,000   652,760
Capital Appreciation, first subordinate, Series A, zero cpn., 8/01/36   17,800,000   2,412,790
Capital Appreciation, first subordinate, Series A, zero cpn. to 8/01/16, 6.75% thereafter,        
               8/01/32   60,970,000   44,514,197
Capital Appreciation, first subordinate, Series A, zero cpn. to 8/01/19, 6.25% thereafter,        
              8/01/33   36,500,000   19,240,610
Capital Appreciation, Sub Series A, zero cpn., 8/01/34   59,465,000   9,704,093
first subordinate, Series A, 5.50%, 8/01/42   51,560,000   34,223,466
first subordinate, Series A, 6.00%, 8/01/42   32,365,000   22,696,604
first subordinate, Series A, 6.50%, 8/01/44   14,750,000   10,784,167
first subordinate, Series C, 5.50%, 8/01/40   25,000,000   16,594,000
        362,137,481
U.S. Virgin Islands 0.6%        
Virgin Islands PFAR,        
senior lien, Capital Projects, Series A-1, 5.00%, 10/01/24   555,000   621,245
senior lien, Refunding, Series B, 5.00%, 10/01/25   1,500,000   1,677,315
sub. lien, Refunding, Series C, 5.00%, 10/01/19   9,145,000   10,238,468
sub. lien, Refunding, Series C, 5.00%, 10/01/22   10,000,000   11,196,000
Virgin Islands Matching Fund Loan Note, Diageo Project, Series A, 6.625%, 10/01/29   18,380,000   21,564,151
Virgin Islands Matching Fund Loan Note, Working Capital, sub. lien, Refunding, Series B,        
5.25%, 10/01/29   5,750,000   6,433,847
        51,731,026
Total U.S. Territories       539,605,013
Total Municipal Bonds (Cost $7,232,141,047)       8,027,088,019
Total Investments before Short-Term Investments (Cost $7,236,991,646)       8,031,942,343

 

116 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin High Yield Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Short Term Investments 1.3%        
Municipal Bonds 1.3%        
Connecticut 0.2%        
gConnecticut State Health and Educational Facilities Authority Revenue, Yale University Issue,        
Series V-1, Daily VRDN and Put, 0.01%, 7/01/36 $ 18,140,000 $ 18,140,000
Georgia 0.5%        
gBurke County Development Authority PCR, Georgia Power Co. Plant Vogtle Project, Refunding,        
First Series, Daily VRDN and Put, 0.01%, 7/01/49   41,720,000   41,720,000
Maryland 0.3%        
gMontgomery County GO, Consolidated Public Improvement, BAN, Refunding, Series A, Daily        
VRDN and Put, 0.01%, 6/01/26   23,785,000   23,785,000
North Carolina 0.3%        
gThe Charlotte-Mecklenburg Hospital Authority Health Care Revenue, Carolinas HealthCare        
System, Series H, Daily VRDN and Put, 0.01%, 1/15/45   29,485,000   29,485,000
Total Short Term Investments (Cost $113,130,000)       113,130,000
Total Investments (Cost $7,350,121,646) 95.4%       8,145,072,343
Other Assets, less Liabilities 4.6%       394,995,878
Net Assets 100.0%     $ 8,540,068,221

 

See Abbreviations on page 168.

Rounds to less than 0.1% of net assets.
aNon-income producing.
bSecurity has been deemed illiquid because it may not be able to be sold within seven days. At February 28, 2015, the aggregate value of these securities was
$35,341,572, representing 0.41% of net assets.
cIncome may be received in additional securities and/or cash.
dSee Note 6 regarding defaulted securities.
eThe bond pays interest and/or principal based upon the issuer’s ability to pay, which may be less than the stated interest rate or principal paydown.
fSecurity purchased on a when-issued basis. See Note 1(b).
gVariable rate demand notes (VRDNs) are tax-exempt obligations which contain a floating or variable interest rate adjustment formula and an unconditional right of demand
to receive payment of the principal balance plus accrued interest at specified dates. The coupon rate shown represents the rate at period end.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 117


 

FRANKLIN TAX-FREE TRUST                              
 
 
Financial Highlights                              
Franklin Insured Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.02   $ 12.63   $ 12.37   $ 11.39   $ 11.88  
Income from investment operationsb:                              
  Net investment incomec   0.49     0.47     0.45     0.50     0.51  
    Net realized and unrealized gains (losses)   0.56     (0.62 )   0.24     1.00     (0.49 )
Total from investment operations   1.05     (0.15 )   0.69     1.50     0.02  
Less distributions from net investment income   (0.49 )   (0.46 )   (0.43 )   (0.52 )   (0.51 )
Net asset value, end of year $ 12.58   $ 12.02   $ 12.63   $ 12.37   $ 11.39  
 
Total returnd   8.91 %   (1.10 )%   5.69 %   13.40 %   0.13 %
 
Ratios to average net assets                              
Expenses   0.61 %   0.60 %   0.62 %   0.62 %   0.63 %
Net investment income   3.98 %   3.94 %   3.57 %   4.25 %   4.30 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 1,808,968   $ 1,880,628   $ 2,552,174   $ 2,312,711   $ 2,100,666  
Portfolio turnover rate   —%     1.61 %   11.01 %   7.08 %   17.09 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

118 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin Insured Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.18   $ 12.79   $ 12.52   $ 11.53   $ 12.01  
Income from investment operationsb:                              
Net investment incomec   0.43     0.41     0.38     0.44     0.45  
    Net realized and unrealized gains (losses)   0.57     (0.63 )   0.25     1.00     (0.49 )
Total from investment operations   1.00     (0.22 )   0.63     1.44     (0.04 )
Less distributions from net investment income   (0.42 )   (0.39 )   (0.36 )   (0.45 )   (0.44 )
Net asset value, end of year $ 12.76   $ 12.18   $ 12.79   $ 12.52   $ 11.53  
 
Total returnd   8.36 %   (1.63 )%   5.12 %   12.72 %   (0.36 )%
 
Ratios to average net assets                              
Expenses   1.17 %   1.16 %   1.17 %   1.17 %   1.18 %
Net investment income   3.42 %   3.38 %   3.02 %   3.70 %   3.75 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 308,280   $ 333,816   $ 547,371   $ 455,584   $ 385,479  
Portfolio turnover rate   —%     1.61 %   11.01 %   7.08 %   17.09 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 119


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin Insured Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 12.01   $ 12.62   $ 12.36   $ 11.39   $ 11.88  
Income from investment operationsb:                              
Net investment incomec   0.50     0.48     0.46     0.51     0.52  
    Net realized and unrealized gains (losses)   0.57     (0.62 )   0.25     0.99     (0.49 )
Total from investment operations   1.07     (0.14 )   0.71     1.50     0.03  
Less distributions from net investment income   (0.50 )   (0.47 )   (0.45 )   (0.53 )   (0.52 )
Net asset value, end of year $ 12.58   $ 12.01   $ 12.62   $ 12.36   $ 11.39  
 
Total return   9.10 %   (1.01 )%   5.80 %   13.42 %   0.23 %
 
Ratios to average net assets                              
Expenses   0.52 %   0.51 %   0.52 %   0.52 %   0.53 %
Net investment income   4.07 %   4.03 %   3.67 %   4.35 %   4.40 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 53,447   $ 46,589   $ 72,179   $ 62,000   $ 21,855  
Portfolio turnover rate   —%     1.61 %   11.01 %   7.08 %   17.09 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.

120 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

      FRANKLIN TAX-FREE TRUST
 
 
 
 
  Statement of Investments, February 28, 2015        
 
  Franklin Insured Tax-Free Income Fund        
      Principal    
      Amount   Value
  Municipal Bonds 95.2%        
  Alabama 4.8%        
  Birmingham Airport Authority Airport Revenue, AGMC Insured, 5.50%, 7/01/40 $ 20,000,000 $ 22,941,199
  Birmingham Waterworks Board Water Revenue, Series A, Assured Guaranty, 5.25%, 1/01/39   5,000,000   5,603,200
  Chatom IDB Gulf Opportunity Zone Revenue, PowerSouth Energy Cooperative, Refunding, Series A,        
  Assured Guaranty, 5.00%,        
  8/01/30   5,250,000   5,918,482
  8/01/37   5,000,000   5,500,950
  Houston County Health Care Authority Revenue, Series A, AMBAC Insured, 5.125%,        
  10/01/24   5,855,000   5,963,142
  10/01/25   6,065,000   6,161,251
  Leeds Public Educational Building Authority Educational Facilities Revenue, Assured Guaranty,        
  5.125%, 4/01/38   10,865,000   11,771,032
  Limestone County Water and Sewer Authority Water Revenue, AMBAC Insured,        
  5.00%, 12/01/35   3,765,000   3,892,784
Pre-Refunded, 5.00%, 12/01/35   5,335,000   5,565,259
  Orange Beach Water Sewer and Fire Protection Authority Revenue, NATL Insured, Pre-Refunded,        
  5.00%, 5/15/35   3,665,000   3,700,331
  Pell City GO, wts.,        
  Refunding, XLCA Insured, 5.00%, 2/01/24   995,000   1,026,472
  XLCA Insured, 5.00%, 2/01/34   5,195,000   5,267,626
  XLCA Insured, Pre-Refunded, 5.00%, 2/01/24   25,000   26,079
  Phenix City Water and Sewer Revenue, wts., Series A, AGMC Insured, 5.00%, 8/15/40   8,090,000   9,065,735
  Tuscaloosa Public Educational Building Authority Student Housing Revenue, Ridgecrest Student        
  Housing LLC, University of Alabama Ridgecrest Residential Project, Assured Guaranty, 6.75%,        
  7/01/38   5,000,000   5,839,300
  University of Alabama at Birmingham Hospital Revenue, Refunding, Series A, AMBAC Insured, 5.00%,        
  9/01/41   5,000,000   5,235,950
          103,478,792
  Alaska 0.6%        
  Alaska Energy Authority Power Revenue, Bradley Lake Project, Refunding, NATL Insured, 6.25%,        
  7/01/21   5,000   5,020
  Matanuska-Susitna Borough Lease Revenue, Goose Creek Correctional Center Project, Assured        
  Guaranty, 6.00%, 9/01/32   10,000,000   11,933,200
          11,938,220
  Arizona 2.9%        
  Arizona State COP, Department of Administration,        
  Series A, AGMC Insured, 5.25%, 10/01/26   8,500,000   9,689,915
  Series A, AGMC Insured, 5.25%, 10/01/28   10,000,000   11,371,700
  Series A, AGMC Insured, 5.00%, 10/01/29   5,000,000   5,601,450
  Series B, AGMC Insured, 5.00%, 10/01/27   8,000,000   9,165,120
  Downtown Phoenix Hotel Corp. Revenue, Subordinate, Series B, NATL Insured, 5.00%, 7/01/36   6,450,000   6,507,728
  Maricopa County IDA Hospital System Revenue, Samaritan Health Services, Series A, NATL Insured,        
  ETM, 7.00%, 12/01/16   120,000   126,907
  Pima County Sewer System Revenue, Obligations, Assured Guaranty, 5.00%, 7/01/25   7,000,000   8,155,630
  Tucson Water System Revenue, Series B, AGMC Insured, Pre-Refunded, 5.00%, 7/01/32   12,000,000   13,226,040
          63,844,490

 

franklintempleton.com

Annual Report

| 121


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Arkansas 0.4%        
Benton Regional Public Water Authority Water Revenue, Refunding and Improvement, XLCA Insured,        
Pre-Refunded, 5.00%, 10/01/35 $ 5,230,000 $ 5,821,408
Board of Trustees of the University of Arkansas Revenue, Various Facility, Fayetteville Campus,        
AMBAC Insured, Pre-Refunded, 5.00%, 11/01/36   3,205,000   3,453,997
        9,275,405
California 10.2%        
California State GO,        
Refunding, AMBAC Insured, 5.00%, 2/01/33   1,250,000   1,254,250
Refunding, NATL Insured, 5.00%, 10/01/32   20,000   20,068
Various Purpose, AGMC Insured, 6.00%, 4/01/38   30,000,000   35,961,300
Various Purpose, Refunding, NATL Insured, 4.75%, 3/01/35   20,855,000   21,603,695
California State Public Works Board Lease Revenue, Various Capital Projects,        
Series A, AGMC Insured, 5.00%, 4/01/28   13,030,000   14,984,240
Series A, AGMC Insured, 5.00%, 4/01/29   21,000,000   24,105,900
Series G, Sub Series G-1, Assured Guaranty, 5.25%, 10/01/24   5,000,000   5,828,400
California State University Revenue, Systemwide, Series A, AGMC Insured, 5.00%, 11/01/39   10,000,000   11,000,600
Colton Joint USD, GO, San Bernardino and Riverside Counties, Election of 2008, Series A,        
Assured Guaranty, 5.375%, 8/01/34   10,000,000   11,582,000
East Side UHSD Santa Clara County GO, Election of 2008, Series B, Assured Guaranty, 5.25%,        
8/01/35   23,800,000   27,406,176
Los Angeles USD, GO, Election of 2004, Series H, AGMC Insured, 5.00%, 7/01/32   32,565,000   35,276,036
Montebello USD, GO, Election of 2004, Series A-1, Assured Guaranty, 5.25%, 8/01/34   5,000,000   5,764,500
Richmond Joint Powers Financing Authority Lease Revenue, Civic Center Project, Refunding,        
Assured Guaranty, 5.75%, 8/01/29   13,315,000   15,639,133
San Jose RDA Tax Allocation, Merged Area, Refunding, Series D, Assured Guaranty, 5.00%,        
8/01/22   10,000,000   10,949,400
        221,375,698
Colorado 3.1%        
Colorado State Board of Governors University Enterprise System Revenue, Series A, NATL Insured,        
5.00%, 3/01/37   1,350,000   1,441,827
Pre-Refunded, 5.00%, 3/01/37   8,650,000   9,425,905
Colorado State Health Facilities Authority Revenue,        
Catholic Health Initiatives, Series C-7, AGMC Insured, 5.00%, 9/01/36   20,000,000   21,673,600
Health Facility Authority, Hospital, Refunding, Series B, AGMC Insured, 5.25%, 3/01/36   10,000,000   11,255,600
Denver City and County Airport System Revenue, Series C, NATL Insured,        
ETM, 6.125%, 11/15/25   3,590,000   4,676,190
Pre-Refunded, 6.125%, 11/15/25   4,410,000   4,422,745
Denver Convention Center Hotel Authority Revenue, senior bond, Refunding, XLCA Insured, 5.00%,        
12/01/35   15,000,000   15,468,900
        68,364,767
Connecticut 0.3%        
Connecticut State Health and Educational Facilities Authority Revenue, Child Care Facilities Program,        
Series G, Assured Guaranty, 6.00%, 7/01/38   5,000,000   5,616,050
District of Columbia 1.0%        
District of Columbia Hospital Revenue, Children's Hospital Obligated Group Issue, Sub Series 1,        
AGMC Insured, 5.45%, 7/15/35   18,770,000   21,139,900

 

122 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin Insured Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  Florida 5.7%        
  Brevard County Local Option Fuel Tax Revenue, NATL Insured, 5.00%,        
  8/01/32 $ 12,440,000 $ 13,493,668
  8/01/37   13,000,000   14,033,500
  Broward County HFAR, MFH, Heron Pointe Apartments Project, Series A,        
  5.65%, 11/01/22   405,000   405,478
  5.70%, 11/01/29   225,000   225,214
  Broward County School Board COP, Master Lease Purchase Agreement, Series A, AGMC Insured,        
Pre-Refunded, 5.00%, 7/01/30   2,000,000   2,031,360
  Cape Coral Water and Sewer Revenue, AMBAC Insured, 5.00%, 10/01/36   2,000,000   2,118,860
  Celebration CDD Special Assessment, Series B, NATL Insured, 5.50%, 5/01/19   85,000   85,300
  Dade County HFA, MFMR, Siesta Pointe Apartments, Series A, AGMC Insured, 5.75%, 9/01/29   1,890,000   1,891,871
  Deltona Utility System Revenue, Refunding, AGMC Insured, 5.125%, 10/01/39   5,000,000   5,676,550
  Florida Gulf Coast University FICO Capital Improvement Revenue, Housing Project, Series A,        
  NATL Insured, 5.00%, 2/01/37   10,000,000   10,632,500
  Florida HFAR, Spinnaker Cove Apartments, Series G, AMBAC Insured, 6.50%, 7/01/36   1,600,000   1,601,472
  Florida State Correctional Privatization Commission COP, Series B, AMBAC Insured, 5.00%,        
  8/01/25   2,000,000   2,000,000
  Hernando County School Board COP, NATL Insured, 5.00%, 7/01/30   1,150,000   1,187,203
  Hillsborough County School Board COP, Master Lease Program, Refunding, Series A, NATL Insured,        
  5.00%, 7/01/26   1,670,000   1,693,146
  Indian Trail Water Control District Improvement Revenue, NATL Insured, 5.75%, 8/01/16   355,000   356,381
  Lake County School Board COP, Series A, AMBAC Insured, Pre-Refunded, 5.00%, 6/01/30   2,080,000   2,104,253
  Lee County Airport Revenue, Refunding, AGMC Insured, 5.00%, 10/01/33   3,530,000   3,614,049
  Lee Memorial Health System Hospital Revenue, Series A, AMBAC Insured, 5.00%,        
  4/01/32   1,460,000   1,554,710
  4/01/37   11,000,000   11,651,090
  Leon County COP, AMBAC Insured, 5.00%, 7/01/25   8,935,000   9,445,635
  Maitland CDA Revenue, AMBAC Insured, Pre-Refunded, 5.00%, 7/01/34   2,595,000   2,635,274
  Martin County Health Facilities Authority Hospital Revenue, Martin Memorial Medical Center,        
  AGMC Insured, 5.50%, 11/15/42   3,800,000   4,404,808
  Miami Beach Water and Sewer Revenue, AMBAC Insured, 5.00%, 9/01/30   3,000,000   3,008,400
  Miami-Dade County Aviation Revenue, Miami International Airport, Hub of the Americas, Refunding,        
  Series A, CIFG Insured, 5.00%, 10/01/38   1,625,000   1,658,849
Miami-Dade County GO, Building Better Communities Program, NATL Insured, Pre-Refunded, 5.00%,        
  7/01/33   2,000,000   2,031,360
  Miami-Dade County Public Facilities Revenue, Jackson Health System, Series A, NATL Insured,        
  5.00%, 6/01/31   1,650,000   1,660,016
  Miami-Dade County School Board COP, Master Lease Purchase Agreement, Series A, NATL Insured,        
Pre-Refunded, 5.00%, 5/01/25   5,000,000   5,468,750
  Orange County Health Facilities Authority Hospital Revenue, Orlando Regional Healthcare System,        
  Refunding, Series B, AGMC Insured, 5.00%, 12/01/32   7,000,000   7,715,680
  Pinellas County Sewer Revenue, AGMC Insured, 5.00%, 10/01/32   610,000   611,787
  Polk County Public Facilities Revenue, NATL Insured, Pre-Refunded, 5.00%, 12/01/33   2,000,000   2,071,260
  Port Orange GO, NATL Insured, 5.00%, 4/01/33   1,755,000   1,831,992
  Sumter County School District Revenue, Multi-District Loan Program, AGMC Insured, ETM, 7.15%,        
  11/01/15   245,000   255,993
  Sunrise Utilities System Revenue,        
  AMBAC Insured, Pre-Refunded, 5.20%, 10/01/22   860,000   1,014,542
  Refunding, AMBAC Insured, 5.20%, 10/01/22   1,140,000   1,299,953

 

franklintempleton.com

Annual Report

| 123


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Florida (continued)        
University of Central Florida Athletics Assn. Inc. COP, Series A, NATL Insured, Pre-Refunded, 5.00%,        
10/01/27 $ 1,000,000 $ 1,027,750
10/01/30   1,485,000   1,526,209
        124,024,863
Georgia 5.2%        
Albany Dougherty Payroll Development Authority Revenue, Darton College Project, Assured Guaranty,        
5.75%, 6/15/41   5,550,000   6,615,489
Atlanta Airport General Revenue, Series A, AGMC Insured, 5.00%, 1/01/40   9,215,000   10,246,803
Atlanta Water and Wastewater Revenue,        
AGMC Insured, 5.00%, 11/01/37   15,000,000   15,036,000
Refunding, Series B, AGMC Insured, 5.375%, 11/01/39   23,000,000   26,248,520
Bulloch County Development Authority Student Housing Revenue, Georgia Southern University        
Housing Foundation Four, LLC Project, Assured Guaranty, 5.25%, 7/01/33   14,825,000   16,539,363
Cherokee County Water and Sewerage Authority Revenue, NATL Insured, 6.90%, 8/01/18   15,000   15,068
Dahlonega Water and Wastewater Revenue, Series A, Assured Guaranty, 5.50%, 9/01/37   6,450,000   7,296,240
Georgia State Higher Education Facilities Authority Revenue, USG Real Estate Foundation III LLC        
Project, Series A, Assured Guaranty, 5.00%, 6/15/38   9,250,000   10,484,875
Medical Center Hospital Authority Revenue, Anticipation Certificates, Columbus Regional Healthcare        
System Inc. Project, Refunding, AGMC Insured, 5.00%, 8/01/41   7,500,000   8,169,225
Savannah EDA Revenue, SSU Community Development I LLC Project, Series I, Assured Guaranty,        
5.75%, 6/15/41   10,000,000   11,947,500
        112,599,083
Illinois 8.3%        
Chicago Board of Education GO, Refunding, Series C, Assured Guaranty, 5.25%, 12/01/26   12,575,000   13,619,731
Chicago GO, Refunding, Series A, AGMC Insured, 5.00%,        
1/01/28   29,885,000   31,967,387
1/01/29   13,345,000   14,195,477
1/01/30   6,200,000   6,564,126
Chicago O'Hare International Airport Revenue, General Airport, third lien,        
Refunding, Series A, AGMC Insured, 5.00%, 1/01/28   24,915,000   27,281,427
Series C, AGMC Insured, 5.25%, 1/01/35   26,635,000   29,789,649
Illinois State Finance Authority Revenue,        
Edward Hospital, Series A, AMBAC Insured, 5.50%, 2/01/40   4,000,000   4,400,720
Southern Illinois HealthCare, AGMC Insured, 5.375%, 3/01/35   8,500,000   9,550,940
Illinois State GO,        
AGMC Insured, 5.00%, 3/01/26   4,000,000   4,379,640
AGMC Insured, 5.00%, 3/01/27   11,500,000   12,509,585
Refunding, AGMC Insured, 5.00%, 1/01/23   10,000,000   11,009,800
Regional Transportation Authority Revenue, Series A, AMBAC Insured, 7.20%, 11/01/20   225,000   258,831
Saline Valley Conservancy District Waterworks Revenue, Saline, Gallatin, Hamilton, Hardin, Williamson,        
Pope, Johnson and White Counties, Refunding, Series A, AMBAC Insured, 5.00%, 1/01/41   7,000,000   7,258,720
St. Clair County School District No. 189 East St. Louis GO, Alternate Revenue Source, Refunding,        
AMBAC Insured, 5.125%, 1/01/28   7,135,000   7,426,393
        180,212,426

 

124 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Indiana 0.6%        
Indiana Health and Educational Facility Financing Authority Revenue, Sisters of St. Francis Health        
Services Inc. Obligated Group, Refunding, Series E, AGMC Insured, 5.25%, 5/15/41 $ 3,750,000 $ 4,106,625
Indianapolis Local Public Improvement Bond Bank Revenue, Waterworks Project, Series A, Assured        
Guaranty, 5.50%, 1/01/38   8,650,000   9,848,285
        13,954,910
Kentucky 0.5%        
Kentucky State Municipal Power Agency Power System Revenue, Prairie State Project, Series A,        
NATL Insured, 5.00%, 9/01/37   10,000,000   10,822,100
Louisiana 2.8%        
Lafayette Public Trust Financing Authority Revenue, Ragin' Cajun Facilities, Housing and Package        
Project, Assured Guaranty,        
5.00%, 10/01/25   5,500,000   6,483,895
5.50%, 10/01/41   15,000,000   17,887,350
Louisiana Local Government Environmental Facilities and CDA Revenue,        
LCTCS Facilities Corp. Project, Series B, Assured Guaranty, 5.00%, 10/01/26   2,750,000   3,153,013
Southeastern Louisiana University, Student Union/University Facilities Inc. Project, Series A,        
AGMC Insured, 5.00%, 10/01/40   8,545,000   9,612,185
Louisiana State Citizens Property Insurance Corp. Assessment Revenue, Series C-2,        
Assured Guaranty, 6.75%, 6/01/26   21,000,000   24,518,760
        61,655,203
Maine 1.0%        
Maine State Educational Loan Authority Student Loan Revenue, Supplemental Education Loan        
Program, Series A-3, Assured Guaranty, 5.875%, 12/01/39   11,745,000   12,756,714
Portland Airport Revenue, General, AGMC Insured,        
5.25%, 1/01/35   3,000,000   3,258,840
5.00%, 1/01/40   6,000,000   6,426,360
        22,441,914
Maryland 0.5%        
Maryland State Health and Higher Educational Facilities Authority Revenue,        
LifeBridge Health Issue, Refunding, Assured Guaranty, 5.00%, 7/01/34   9,000,000   9,627,120
University of Maryland Medical System Issue, Series B, NATL Insured, 7.00%, 7/01/22   170,000   205,452
        9,832,572
Massachusetts 2.7%        
Massachusetts State Development Finance Agency Revenue, Worcester Polytechnic Institute Issue,        
NATL Insured, 5.00%, 9/01/47   25,050,000   27,083,810
Massachusetts State Health and Educational Facilities Authority Revenue,        
CareGroup Issue, Series A, NATL Insured, Pre-Refunded, 5.00%, 7/01/25   750,000   874,305
Emmanuel College Issue, NATL Insured, 5.00%, 7/01/37   21,685,000   22,517,270
Harvard Pilgrim Health Care Issue, Series A, AGMC Insured, 5.00%, 7/01/18   3,000,000   3,005,040
Simmons College Issue, Series C, NATL Insured, 5.125%, 10/01/28   4,260,000   4,272,354
        57,752,779
Michigan 6.2%        
Detroit Sewage Disposal System Revenue, second lien, Series B, NATL Insured, 5.00%, 7/01/36   15,000,000   15,208,350
Detroit Water and Sewerage Department Sewage Disposal System Revenue, senior lien, Refunding,        
Series A, AGMC Insured, 5.00%, 7/01/39   10,000,000   10,800,300
Detroit Water Supply System Revenue,        
second lien, Series B, AGMC Insured, 7.00%, 7/01/36   5,000,000   5,620,150
senior lien, Series A, NATL Insured, 5.00%, 7/01/34   2,755,000   2,768,251
 
franklintempleton.com   Annual Report | 125

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Michigan (continued)        
Jackson County Hospital Finance Authority Revenue, W.A. Foote Memorial Hospital, Refunding,        
Series C, Assured Guaranty, 5.00%, 6/01/26 $ 15,000,000 $ 17,131,950
Michigan State Building Authority Revenue, Refunding, Series IA,        
AGMC Insured, 5.00%, 10/15/36   28,895,000   30,630,145
NATL Insured, 5.00%, 10/15/36   10,000,000   10,600,500
Michigan State Hospital Finance Authority Revenue,        
Hospital, Sparrow Obligated Group, Refunding, NATL Insured, 5.00%, 11/15/36   13,000,000   13,039,910
Trinity Health Credit Group, Refunding, Series A, 6.50%, 12/01/33   25,000,000   29,371,250
Michigan State Strategic Fund Limited Obligation Revenue, Detroit Edison Co. Pollution Control        
Bonds Project, Refunding, Collateralized Series BB, AMBAC Insured, 7.00%, 5/01/21   250,000   316,280
        135,487,086
Minnesota 0.0%        
Minnesota Agricultural and Economic Development Board Revenue, Health Care System, Fairview        
Hospital and Healthcare Services, Refunding, Series A, NATL Insured, 5.75%, 11/15/26   180,000   180,590
Mississippi 0.5%        
Mississippi State Development Bank Special Obligation Revenue, Municipal Energy Agency of        
Mississippi Power Supply Project, Series A, XLCA Insured, 5.00%, 3/01/36   10,915,000   11,138,539
Missouri 1.1%        
Bi-State Development Agency Missouri-Illinois Metropolitan District Mass Transit Sales Tax Revenue,        
Metrolink Cross County Extension Project, Assured Guaranty, 5.00%, 10/01/39   6,000,000   6,707,880
Missouri State Health and Educational Facilities Authority Health Facilities Revenue, St. Luke's        
Health System, Series B, AGMC Insured, 5.50%, 11/15/35   15,000,000   16,987,650
        23,695,530
Nebraska 0.1%        
Lancaster County Hospital Authority Revenue, Bryan Memorial Hospital Project No. 1, NATL Insured,        
ETM, 6.70%, 6/01/22   2,115,000   2,560,863
Nevada 1.6%        
Clark County GO, Series A, AMBAC Insured, 6.50%, 6/01/17   250,000   281,293
Clark County Passenger Facility Charge Revenue, Las Vegas, McCarran International Airport, Series A,        
AGMC Insured, 5.25%, 7/01/42   5,000,000   5,577,800
Assured Guaranty, 5.25%, 7/01/39   20,000,000   22,388,000
Reno Hospital Revenue, Washoe Medical Center Project, Refunding, Series C, AGMC Insured,        
5.375%, 6/01/39   5,000,000   5,546,150
        33,793,243
New Hampshire 0.3%        
Manchester GARB, General, Refunding, Series A, AGMC Insured, 5.125%, 1/01/30   6,000,000   6,381,300
New Jersey 2.1%        
New Jersey EDA Revenue,        
Motor Vehicle Surcharges, Series A, NATL Insured, 5.00%, 7/01/29   3,450,000   3,485,880
Motor Vehicle Surcharges, Series A, NATL Insured, 5.00%, 7/01/34   21,250,000   21,471,000
Municipal Rehabilitation, Series A, AMBAC Insured, 5.00%, 4/01/28   4,000,000   4,008,640
New Jersey State Transportation Trust Fund Authority Revenue, Transportation System, Series A,        
6.00%, 12/15/38   9,620,000   11,014,034
Pre-Refunded, 6.00%, 12/15/38   5,380,000   6,388,696

 

126 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New Jersey (continued)        
New Jersey State Turnpike Authority Turnpike Revenue, Series C, AMBAC Insured,        
6.50%, 1/01/16 $ 35,000 $ 36,760
ETM, 6.50%, 1/01/16   35,000   36,813
Pre-Refunded, 6.50%, 1/01/16   20,000   21,040
        46,462,863
New York 5.6%        
Hudson Yards Infrastructure Corp. Revenue, Series A, AGMC Insured, 5.00%, 2/15/47   16,475,000   18,078,512
MTA Revenue, Transportation, Series A, AGMC Insured, 5.00%, 11/15/33   20,000,000   21,854,200
New York City Municipal Water Finance Authority Water and Sewer System Revenue, Second General        
Resolution, Refunding,        
Series AA, 5.00%, 6/15/44   21,550,000   24,182,979
Series GG, 5.00%, 6/15/43   25,000,000   28,070,000
New York City Transitional Finance Authority Building Aid Revenue, Fiscal 2012, Series S-1,        
Sub Series S-1A, 5.25%, 7/15/37   25,000,000   28,751,250
        120,936,941
North Carolina 0.4%        
Raleigh Combined Enterprise System Revenue, 5.00%, 3/01/40   7,915,000   8,869,391
North Dakota 1.6%        
Cass County Health Care Facilities Revenue, Essentia Health Obligated Group, Series D, Assured        
Guaranty, 5.00%, 2/15/40   31,970,000   34,020,556
Ohio 2.9%        
Cleveland Airport System Revenue, Refunding, Series A, AGMC Insured, 5.00%, 1/01/28   9,500,000   10,777,275
Hamilton County Healthcare Revenue, Christ Hospital Project, AGMC Insured, 5.00%, 6/01/42   22,500,000   24,626,250
Jefferson Area Local School District GO, School Facilities Construction and Improvement,        
NATL Insured, Pre-Refunded, 5.00%, 12/01/31   4,085,000   4,132,631
Ohio State Higher Educational Facility Commission Revenue, Summa Health System, 2010 Project,        
Refunding, Assured Guaranty, 5.25%, 11/15/40   15,000,000   16,827,150
Ohio State Hospital Facility Revenue, University Hospital Health System, Refunding, Series A,        
AGMC Insured, 5.00%, 1/15/41   7,000,000   7,524,930
        63,888,236
Oklahoma 0.0%        
McGee Creek Authority Water Revenue, NATL Insured, 6.00%, 1/01/23   260,000   291,889
Oregon 0.2%        
Medford Hospital Facilities Authority Revenue, Asante Health System, Series A, Assured Guaranty,        
5.00%, 8/15/40   4,935,000   5,327,086
Pennsylvania 5.7%        
Allegheny County Sanitary Authority Sewer Revenue, BAM Insured, 5.25%, 12/01/44   5,000,000   5,734,900
Bucks County Water and Sewer Authority Water System Revenue, AGMC Insured, 5.00%,        
12/01/33   5,500,000   6,127,550
12/01/37   10,520,000   11,619,340
12/01/41   5,110,000   5,624,475
Delaware River Port Authority Revenue, Series D, AGMC Insured, 5.00%, 1/01/40   15,000,000   16,507,650
Lackawanna County GO, Series B, AGMC Insured, 5.00%, 9/01/35   7,500,000   8,174,925
Pennsylvania Convention Center Authority Revenue, Series A, FGIC Insured, ETM, 6.00%, 9/01/19   500,000   582,530
Pennsylvania State Public School Building Authority Lease Revenue, School District of Philadelphia        
Project, Refunding, Series B, AGMC Insured, 4.75%, 6/01/30   6,000,000   6,298,800

 

franklintempleton.com

Annual Report

| 127


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Pennsylvania (continued)        
Pennsylvania State Turnpike Commission Turnpike Revenue,        
AGMC Insured, 6.00%, 12/01/41 $ 10,000,000 $ 10,841,000
Refunding, Series C, Sub Series C-1, Assured Guaranty, 6.25%, 6/01/38   10,000,000   11,428,800
Series A, Assured Guaranty, 5.00%, 6/01/39   10,000,000   10,978,700
Philadelphia Gas Works Revenue, 1998 General Ordinance, Fourth Series, AGMC Insured, 5.00%,        
8/01/32   4,000,000   4,008,320
Philadelphia Water and Wastewater Revenue, Series C, AGMC Insured, 5.00%, 8/01/40   7,000,000   7,790,020
South Fork Municipal Authority Hospital Revenue, Conemaugh Valley Memorial Hospital, Series B,        
Assured Guaranty, Pre-Refunded, 5.375%, 7/01/35   15,000,000   18,126,150
        123,843,160
Rhode Island 1.8%        
Rhode Island State Clean Water Finance Agency Revenue, Wastewater Treatment System,        
City of Cranston, Triton Ocean State LLC Project, NATL Insured, 5.80%, 9/01/22   7,785,000   7,794,731
Rhode Island State EDC Special Facility Revenue, first lien, Rhode Island Airport Corp. Project,        
CIFG Insured, 5.00%, 7/01/31   5,720,000   5,850,416
Rhode Island State Health and Educational Building Corp. Higher Education Facility Revenue, Board        
of Governors for Higher Education, University of Rhode Island, Auxiliary Enterprise Issue, Series B,        
AGMC Insured, 5.00%,        
9/15/30   7,535,000   8,523,064
9/15/35   4,500,000   5,038,200
9/15/40   10,270,000   11,436,775
Rhode Island State Health and Educational Building Corp. Revenue, Hospital Financing, Lifespan        
Obligated Group Issue, Refunding, NATL Insured, 5.75%, 5/15/23   100,000   100,367
        38,743,553
South Carolina 2.4%        
Piedmont Municipal Power Agency Electric Revenue, Refunding, NATL Insured, 6.25%, 1/01/21   200,000   248,626
Richland County Hospital Facilities Revenue, Community Provider, Pooled Loan Program, Series A,        
AGMC Insured, ETM, 7.125%, 7/01/17   805,000   848,478
SCAGO Educational Facilities Corp. for Pickens School District Revenue, Installment Purchase,        
School District of Pickens County Project, AGMC Insured, 5.00%, 12/01/31   17,800,000   18,949,346
South Carolina Jobs EDA Hospital Revenue, Palmetto Health, Refunding, Series A, AGMC Insured,        
5.00%, 8/01/35   20,000,000   21,964,000
Spartanburg Water System Revenue, Assured Guaranty, 5.00%, 6/01/39   6,000,000   6,743,940
Woodruff Roebuck Water District Water System Revenue, Improvement, Refunding, AGMC Insured,        
5.00%, 6/01/40   3,000,000   3,314,940
        52,069,330
South Dakota 0.2%        
Brookings COP, Refunding, AMBAC Insured, 5.10%, 12/01/18   2,765,000   2,766,714
South Dakota Lease Revenue, Series A, AGMC Insured, 6.75%, 12/15/16   570,000   610,339
        3,377,053
Tennessee 0.4%        
Johnson City Health and Educational Facilities Board Hospital Revenue, Johnson City Medical Center        
Hospital, Improvement,        
NATL Insured, ETM, 5.25%, 7/01/28   8,500,000   8,504,760
Series C, NATL Insured, Pre-Refunded, 5.125%, 7/01/25   360,000   360,709
        8,865,469

 

128 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Texas 5.0%        
Coastal Bend Health Facilities Development Corp. Revenue, Series B, AMBAC Insured, ETM, 6.30%,        
1/01/17 $ 2,590,000 $ 2,637,630
Harris County Hospital District Revenue, senior lien, Refunding, Series A, NATL Insured, 5.25%,        
2/15/37   10,250,000   10,986,872
North Fort Bend Water Authority Water System Revenue, Assured Guaranty, 5.25%, 12/15/34   20,000,000   22,840,800
Palestine ISD, GO, Anderson County, School Building, Assured Guaranty, 5.50%, 2/15/39   12,530,000   14,402,233
Port Neches-Groves ISD, GO, Jefferson County, Unlimited Tax School Building, Assured Guaranty,        
5.00%, 2/15/34   11,375,000   12,521,941
San Antonio Airport System Revenue, Improvement, Passenger Facility Charge, sub. lien, Refunding        
and Improvement, AGMC Insured, 5.375%, 7/01/40   5,000,000   5,598,450
San Marcos Electric Utility System Revenue, Hays Caldwell and Guadalupe Counties, BAM Insured,        
5.00%, 11/01/33   6,300,000   7,110,180
Tarrant County Health Facilities Development Corp. Health Systems Revenue, Harris Methodist        
Health System, NATL Insured, ETM, 6.00%, 9/01/24   3,250,000   3,897,953
Texas State Transportation Commission Turnpike System Revenue, first tier, Refunding, Series A,        
AGMC Insured, 5.00%, 8/15/41   16,000,000   17,883,520
BAM Insured, 5.00%, 8/15/41   9,665,000   10,802,764
        108,682,343
Utah 0.0%        
Provo Electric System Revenue, Series A, AMBAC Insured, ETM, 10.375%, 9/15/15   20,000   20,141
Virginia 0.4%        
Chesterfield County EDA Revenue, Bon Secours Health System Inc., Series C-2, Assured Guaranty,        
5.00%, 11/01/42   8,000,000   8,722,240
Washington 1.6%        
King County Sewer Revenue,        
Refunding, Second Series, AGMC Insured, 5.00%, 1/01/36   3,295,000   3,516,589
Second Series, AGMC Insured, Pre-Refunded, 5.00%, 1/01/36   1,705,000   1,845,185
Snohomish County PUD No. 1 Electric Revenue, Generation System, FGIC Insured, ETM, 6.65%,        
1/01/16   1,250,000   1,317,075
Washington State Health Care Facilities Authority Revenue,        
MultiCare Health System, Series B, Assured Guaranty, 6.00%, 8/15/39   1,500,000   1,765,965
Providence Health and Services, Refunding, Series D, AGMC Insured, 5.25%, 10/01/33   18,000,000   20,145,240
Virginia Mason Medical Center, Series B, NATL Insured, 5.00%, 2/15/27   4,875,000   5,256,517
        33,846,571
West Virginia 0.6%        
Shepherd University Board of Governors Revenue, Residence Facilities Projects, NATL Insured,        
5.00%, 6/01/35   7,445,000   7,502,475
West Virginia State Water Development Authority Water Development Revenue, Loan Program II,        
Refunding, Series A-II, NATL Insured, 5.00%, 11/01/36   5,000,000   5,121,150
        12,623,625
Wisconsin 1.3%        
Superior Limited Obligation Revenue, Midwest Energy Resources, Refunding, Series E, NATL        
Insured, 6.90%, 8/01/21   3,000,000   3,828,090
Wisconsin State General Fund Annual Appropriation Revenue, Series A, 6.00%, 5/01/36   20,000,000   23,517,200
        27,345,290

 

franklintempleton.com

Annual Report

| 129


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Insured Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
U.S. Territories 2.6%        
Puerto Rico 1.4%        
Puerto Rico Sales Tax FICO Sales Tax Revenue,        
First Sub Series A, Assured Guaranty, 5.00%, 8/01/40 $ 10,000,000 $ 10,051,400
First Sub Series C, AGMC Insured, 5.125%, 8/01/42   20,000,000   20,182,200
        30,233,600
U.S. Virgin Islands 1.2%        
Virgin Islands PFAR, Matching Fund Loan Notes, senior lien, AGMC Insured, 5.00%, 10/01/29   23,000,000   26,439,190
 
Total U.S. Territories       56,672,790
Total Municipal Bonds (Cost $1,884,839,487) 95.2%       2,066,174,850
Other Assets, less Liabilities 4.8%       104,519,886
Net Assets 100.0%     $ 2,170,694,736

 

See Abbreviations on page 168.
Rounds to less than 0.1% of net assets.

 

130 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
 
 
Financial Highlights                              
Franklin Massachusetts Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.42   $ 12.16   $ 12.02   $ 11.11   $ 11.60  
Income from investment operationsb:                              
Net investment incomec   0.42     0.42     0.42     0.47     0.47  
Net realized and unrealized gains (losses)   0.51     (0.76 )   0.14     0.91     (0.46 )
Total from investment operations   0.93     (0.34 )   0.56     1.38     0.01  
Less distributions from:                              
Net investment income   (0.42 )   (0.40 )   (0.42 )   (0.47 )   (0.48 )
Net realized gains               (—)d     (0.02 )
Total distributions   (0.42 )   (0.40 )   (0.42 )   (0.47 )   (0.50 )
Net asset value, end of year $ 11.93   $ 11.42   $ 12.16   $ 12.02   $ 11.11  
 
Total returne   8.28 %   (2.75 )%   4.75 %   12.65 %   0.01 %
 
Ratios to average net assets                              
Expenses   0.67 %   0.66 %   0.65 %   0.66 %   0.66 %
Net investment income   3.56 %   3.64 %   3.49 %   4.05 %   4.06 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 439,041   $ 419,556   $ 525,946   $ 461,749   $ 439,506  
Portfolio turnover rate   6.51 %   7.12 %   20.05 %   14.50 %   18.65 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.
eTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 131


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin Massachusetts Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.53   $ 12.29   $ 12.14   $ 11.22   $ 11.70  
Income from investment operationsb:                              
Net investment incomec   0.36     0.36     0.36     0.41     0.41  
Net realized and unrealized gains (losses)   0.53     (0.78 )   0.14     0.91     (0.46 )
Total from investment operations   0.89     (0.42 )   0.50     1.32     (0.05 )
Less distributions from:                              
Net investment income   (0.36 )   (0.34 )   (0.35 )   (0.40 )   (0.41 )
Net realized gains               (—)d     (0.02 )
Total distributions   (0.36 )   (0.34 )   (0.35 )   (0.40 )   (0.43 )
Net asset value, end of year $ 12.06   $ 11.53   $ 12.29   $ 12.14   $ 11.22  
 
Total returne   7.79 %   (3.41 )%   4.20 %   12.01 %   (0.47 )%
 
Ratios to average net assets                              
Expenses   1.22 %   1.21 %   1.20 %   1.21 %   1.21 %
Net investment income   3.01 %   3.09 %   2.94 %   3.50 %   3.51 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 62,878   $ 61,760   $ 90,144   $ 84,078   $ 83,046  
Portfolio turnover rate   6.51 %   7.12 %   20.05 %   14.50 %   18.65 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.
eTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

132 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin Massachusetts Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.41   $ 12.16   $ 12.02   $ 11.11   $ 11.60  
Income from investment operationsb:                              
Net investment incomec   0.43     0.43     0.44     0.48     0.48  
Net realized and unrealized gains (losses)   0.53     (0.77 )   0.14     0.91     (0.46 )
Total from investment operations   0.96     (0.34 )   0.58     1.39     0.02  
Less distributions from:                              
Net investment income   (0.44 )   (0.41 )   (0.44 )   (0.48 )   (0.49 )
Net realized gains               (—)d     (0.02 )
Total distributions   (0.44 )   (0.41 )   (0.44 )   (0.48 )   (0.51 )
Net asset value, end of year $ 11.93   $ 11.41   $ 12.16   $ 12.02   $ 11.11  
 
Total return   8.48 %   (2.74 )%   4.85 %   12.76 %   0.12 %
 
Ratios to average net assets                              
Expenses   0.57 %   0.56 %   0.55 %   0.56 %   0.56 %
Net investment income   3.66 %   3.74 %   3.59 %   4.15 %   4.16 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 10,274   $ 4,574   $ 9,135   $ 7,743   $ 4,007  
Portfolio turnover rate   6.51 %   7.12 %   20.05 %   14.50 %   18.65 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 133


 

FRANKLIN TAX-FREE TRUST        
 
 
 
 
Statement of Investments, February 28, 2015        
 
Franklin Massachusetts Tax-Free Income Fund        
    Principal    
    Amount   Value
Municipal Bonds 99.4%        
Massachusetts 99.4%        
Boston Water and Sewer Commission Revenue, General, Refunding, Senior Series A, 4.00%,        
11/01/28 $ 4,400,000 $ 4,851,835
aBraintree GO, Refunding, 5.00%, 5/15/27   2,000,000   2,494,140
City of Quincy GO, Muni Purpose Loan, Refunding, 4.00%, 6/01/32   2,565,000   2,759,863
Dudley-Charlton Regional School District GO, Series B, NATL Insured, 5.25%, 5/01/19   3,140,000   3,563,963
Massachusetts Bay Transportation Authority Revenue, General Transportation System, Series C,        
NATL Insured, 5.25%, 3/01/15   2,000,000   2,000,000
Massachusetts Bay Transportation Authority Sales Tax Revenue, Senior, Refunding, Series A, 5.25%,        
7/01/30   4,000,000   5,110,400
Massachusetts State College Building Authority Project Revenue,        
Refunding, Series B, XLCA Insured, 5.50%, 5/01/39   5,000,000   6,637,600
Series A, Assured Guaranty, 5.00%, 5/01/33   10,000,000   11,055,900
Series B, 5.00%, 5/01/40   4,625,000   5,289,520
Massachusetts State Department of Transportation Metropolitan Highway System Revenue,        
Commonwealth Contract Assistance Secured, Series B, 5.00%, 1/01/35   16,165,000   18,273,239
Massachusetts State Development Finance Agency Revenue,        
Boston College Issue, Series P, NATL Insured, 4.75%, 7/01/42   11,000,000   11,655,160
Boston University Issue, Series T-1, AMBAC Insured, 5.00%, 10/01/35   3,600,000   3,684,024
Boston University Issue, Series T-1, AMBAC Insured, 5.00%, 10/01/39   18,630,000   19,056,068
Brandeis University Issue, Series N, 5.00%, 10/01/39   5,000,000   5,493,200
The Broad Institute Issue, Series A, 5.375%, 4/01/41   15,000,000   17,343,150
Massachusetts College of Pharmacy and Allied Health Sciences Issue, Series E, Assured Guaranty,        
         5.00%, 7/01/31   5,000,000   5,433,050
Massachusetts College of Pharmacy and Allied Health Sciences Issue, Series E, Assured Guaranty,        
         5.00%, 7/01/37   5,035,000   5,450,539
Northeastern University, Series A, 5.00%, 3/01/44   5,000,000   5,623,550
Partners Healthcare System Issue, Refunding, Series L, 5.00%, 7/01/41   5,000,000   5,621,050
Partners Healthcare System Issue, Refunding, Series O-2, 5.00%, 7/01/30   5,000,000   5,906,400
Sterling and Francine Clark Art Institute Issue, 5.00%, 7/01/41   12,900,000   14,250,630
Western New England College Issue, Refunding, Series A, Assured Guaranty, 5.00%, 9/01/33   12,200,000   12,444,854
WGBH Educational Foundation Issue, Refunding, Series A, Assured Guaranty, 5.00%, 1/01/36   15,945,000   17,220,122
Worcester Polytechnic Institute Issue, 4.00%, 9/01/49   4,825,000   4,938,001
Worcester Polytechnic Institute Issue, Refunding, NATL Insured, 5.00%, 9/01/37   12,850,000   13,985,426
Massachusetts State Educational Financing Authority Education Loan Revenue, Issue I,        
6.00%, 1/01/28   7,130,000   7,486,571
Refunding, Series A, 5.50%, 1/01/22   3,000,000   3,432,510
Massachusetts State Federal Highway Revenue, Grant Anticipation Notes, Accelerated Bridge Program,        
Series A, 5.00%, 6/15/27   5,000,000   6,075,600
Massachusetts State GO,        
Consolidated Loan, Series A, AGMC Insured, Pre-Refunded, 5.00%, 3/01/24   4,000,000   4,000,000
Consolidated Loan, Series C, AMBAC Insured, 5.00%, 8/01/37   10,000,000   10,919,300
Consolidated Loan, Series F, 4.00%, 11/01/29   6,000,000   6,493,020
Refunding, Series A, AMBAC Insured, 5.50%, 8/01/30   5,000,000   6,608,450
Massachusetts State Health and Educational Facilities Authority Revenue,        
Cable Housing and Health Services Issue, Series A, NATL Insured, 5.25%, 7/01/23   935,000   936,150
Cape Cod Healthcare Obligated Group, Assured Guaranty, 6.00%, 11/15/28   3,000,000   3,557,550
Cape Cod Healthcare Obligated Group, Assured Guaranty, 5.125%, 11/15/35   3,150,000   3,503,871
Children's Hospital Issue, Series M, 5.25%, 12/01/39   7,000,000   7,979,790
Emmanuel College Issue, NATL Insured, 5.00%, 7/01/37   10,000,000   10,383,800
Lesley University Issue, Series A, Assured Guaranty, 5.25%, 7/01/39   9,350,000   10,561,292
Partners Healthcare System Issue, Refunding, Series J-1, 5.00%, 7/01/39   4,345,000   4,888,125
Southcoast Health System Obligated Group, Series D, 5.00%, 7/01/39   5,500,000   6,081,570
Sterling and Francine Clark Art Institute Issue, Series B, 5.00%, 7/01/40   10,000,000   11,302,800
 
134 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin Massachusetts Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
Massachusetts (continued)        
Massachusetts State HFA, MFHR, Section 8 Assisted, Series A, ETM, 7.00%, 4/01/21 $ 430,000 $ 541,903
Massachusetts State HFAR,        
Housing, Refunding, Series A, 3.25%, 12/01/27   4,000,000   4,016,240
Housing, Refunding, Series A, 3.50%, 12/01/31   5,805,000   5,855,852
Housing, Series C, 5.125%, 12/01/39   1,700,000   1,805,162
Housing, Series C, 5.35%, 12/01/49   4,500,000   4,810,590
Housing, Series D, 5.05%, 6/01/40   4,440,000   4,653,520
Housing, Series F, 2.875%, 12/01/27   2,020,000   1,972,409
Housing, Series F, 3.15%, 12/01/32   3,445,000   3,430,979
Housing, Series F, 3.45%, 12/01/37   1,500,000   1,488,255
SF Housing, Series 159, 4.05%, 12/01/32   12,000,000   12,320,160
SF Housing, Series 162, 3.15%, 12/01/32   10,905,000   10,744,042
Massachusetts State Port Authority Revenue, Series A,        
AGMC Insured, 4.50%, 7/01/32   5,590,000   5,955,754
AGMC Insured, 4.50%, 7/01/37   7,935,000   8,258,193
AMBAC Insured, Pre-Refunded, 5.00%, 7/01/35   10,000,000   10,158,500
Massachusetts State School Building Authority Dedicated Sales Tax Revenue,        
Senior, Series B, 5.00%, 10/15/41   10,000,000   11,377,800
Series A, AMBAC Insured, 4.75%, 8/15/32   15,000,000   16,314,450
Massachusetts State Special Obligation Dedicated Tax Revenue, Refunding, NATL Insured, 5.50%,        
1/01/25   10,900,000   13,689,310
1/01/34   16,900,000   21,449,649
Massachusetts State Transportation Fund Revenue, Accelerated Bridge Program, Series A, 4.00%,        
6/01/31   5,555,000   5,907,909
Massachusetts State Water Pollution Abatement Trust Revenue,        
2012, Pooled Loan Program, Series 6, 5.50%, 8/01/30   195,000   195,712
2012, Pooled Loan Program, Series 7, 5.125%, 2/01/31   260,000   260,835
State Revolving Fund, Refunding, 5.00%, 8/01/23   3,000,000   3,724,770
State Revolving Fund, Refunding, 5.00%, 8/01/24   3,500,000   4,386,130
Massachusetts State Water Pollution Abatement Trust Water Pollution Abatement Revenue,        
MWRA Program, Refunding, Sub Series A, 5.75%, 8/01/29   250,000   250,965
Massachusetts State Water Resources Authority Revenue, General,        
Refunding, Series B, AGMC Insured, 5.25%, 8/01/28   5,490,000   7,070,296
Series A, AGMC Insured, 4.50%, 8/01/46   5,325,000   5,505,997
Metropolitan Boston Transit Parking Corp. Systemwide Parking Revenue, senior lien,        
5.00%, 7/01/41   7,500,000   8,450,100
Refunding, 5.25%, 7/01/36   5,585,000   6,379,857
Monson GO, AMBAC Insured, 5.25%, 11/01/23   1,675,000   1,680,075
Springfield GO, State Qualified Municipal Purpose Loan, AGMC Insured, Pre-Refunded, 4.50%,        
8/01/26   2,000,000   2,152,940
Worcester GO,        
Assured Guaranty, 5.00%, 11/01/37   3,000,000   3,296,520
Municipal Purpose Loan, 3.25%, 11/01/25   3,370,000   3,513,562
Municipal Purpose Loan, 3.50%, 11/01/26   3,000,000   3,149,040
Total Municipal Bonds (Cost $474,791,101) 99.4%       509,119,559
Other Assets, less Liabilities 0.6%       3,073,445
Net Assets 100.0%     $ 512,193,004

 

See Abbreviations on page 168.

aSecurity purchased on a when-issued basis. See Note 1(b).

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 135


 

FRANKLIN TAX-FREE TRUST                              
 
 
Financial Highlights                              
Franklin New Jersey Tax-Free Income Fund                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class A                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.76   $ 12.62   $ 12.55   $ 11.49   $ 11.99  
Income from investment operationsb:                              
Net investment incomec   0.47     0.46     0.47     0.52     0.51  
Net realized and unrealized gains (losses)   0.20     (0.87 )   0.06     1.06     (0.49 )
Total from investment operations   0.67     (0.41 )   0.53     1.58     0.02  
Less distributions from:                              
Net investment income   (0.48 )   (0.45 )   (0.46 )   (0.52 )   (0.52 )
Net realized gains                   (—)d  
Total distributions   (0.48 )   (0.45 )   (0.46 )   (0.52 )   (0.52 )
Net asset value, end of year $ 11.95   $ 11.76   $ 12.62   $ 12.55   $ 11.49  
 
Total returne   5.75 %   (3.22 )%   4.31 %   14.09 %   0.11 %
 
Ratios to average net assets                              
Expenses   0.64 %   0.63 %   0.63 %   0.63 %   0.63 %
Net investment income   3.98 %   3.88 %   3.69 %   4.30 %   4.26 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 893,018   $ 974,154   $ 1,281,242   $ 1,201,084   $ 1,128,665  
Portfolio turnover rate   4.81 %   9.73 %   13.02 %   8.01 %   12.97 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.
eTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

136 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL HIGHLIGHTS  
 
 
 
Franklin New Jersey Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Class C                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.89   $ 12.76   $ 12.68   $ 11.60   $ 12.11  
Income from investment operationsb:                              
Net investment incomec   0.41     0.40     0.40     0.45     0.45  
Net realized and unrealized gains (losses)   0.20     (0.89 )   0.07     1.09     (0.51 )
Total from investment operations   0.61     (0.49 )   0.47     1.54     (0.06 )
Less distributions from:                              
Net investment income   (0.41 )   (0.38 )   (0.39 )   (0.46 )   (0.45 )
Net realized gains                   (—)d  
Total distributions   (0.41 )   (0.38 )   (0.39 )   (0.46 )   (0.45 )
Net asset value, end of year $ 12.09   $ 11.89   $ 12.76   $ 12.68   $ 11.60  
 
Total returne   5.20 %   (3.80 )%   3.77 %   13.52 %   (0.53 )%
 
Ratios to average net assets                              
Expenses   1.19 %   1.18 %   1.18 %   1.18 %   1.18 %
Net investment income   3.43 %   3.33 %   3.14 %   3.75 %   3.71 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 231,740   $ 247,538   $ 331,573   $ 296,302   $ 276,916  
Portfolio turnover rate   4.81 %   9.73 %   13.02 %   8.01 %   12.97 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.
eTotal return does not reflect sales commissions or contingent deferred sales charges, if applicable.

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 137


 

FRANKLIN TAX-FREE TRUST                              
FINANCIAL HIGHLIGHTS                              
 
 
 
Franklin New Jersey Tax-Free Income Fund (continued)                              
          Year Ended February 28,        
    2015     2014     2013     2012 a   2011  
Advisor Class                              
Per share operating performance                              
(for a share outstanding throughout the year)                              
Net asset value, beginning of year $ 11.77   $ 12.63   $ 12.55   $ 11.49   $ 11.99  
Income from investment operationsb:                              
Net investment incomec   0.49     0.47     0.48     0.53     0.52  
Net realized and unrealized gains (losses)   0.19     (0.87 )   0.08     1.07     (0.49 )
Total from investment operations   0.68     (0.40 )   0.56     1.60     0.03  
Less distributions from:                              
Net investment income   (0.49 )   (0.46 )   (0.48 )   (0.54 )   (0.53 )
Net realized gains                   (—)d  
Total distributions   (0.49 )   (0.46 )   (0.48 )   (0.54 )   (0.53 )
Net asset value, end of year $ 11.96   $ 11.77   $ 12.63   $ 12.55   $ 11.49  
 
Total return   5.86 %   (3.12 )%   4.50 %   14.20 %   0.21 %
 
Ratios to average net assets                              
Expenses   0.54 %   0.53 %   0.53 %   0.53 %   0.53 %
Net investment income   4.08 %   3.98 %   3.79 %   4.40 %   4.36 %
 
Supplemental data                              
Net assets, end of year (000’s) $ 92,059   $ 63,162   $ 81,557   $ 63,827   $ 25,378  
Portfolio turnover rate   4.81 %   9.73 %   13.02 %   8.01 %   12.97 %

 

aFor the year ended February 29.
bThe amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and
repurchases of the Fund shares in relation to income earned and/or fluctuating fair value of the investments of the Fund.
cBased on average daily shares outstanding.
dAmount rounds to less than $0.01 per share.

138 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

      FRANKLIN TAX-FREE TRUST
 
 
 
 
Statement of Investments, February 28, 2015          
 
Franklin New Jersey Tax-Free Income Fund          
      Principal    
      Amount   Value
Municipal Bonds 97.8%          
Delaware 0.6%          
Delaware River and Bay Authority Revenue, Series A, 5.00%, 1/01/42   $ 6,000,000 $ 6,720,060
New Jersey 78.2%          
Atlantic County Improvement Authority Luxury Tax Revenue, Convention Center Project,          
NATL Insured, ETM, 7.40%, 7/01/16     3,700,000   3,898,209
Bergen County Improvement Authority School District Revenue GO, Wyckoff Township Board of          
Education Project, Pre-Refunded, 5.00%, 4/01/32     3,400,000   3,412,580
Bergen County Utilities Authority Water PCR, System, AMBAC Insured, Pre-Refunded, 5.00%,          
       12/15/31     3,000,000   3,112,500
Bernards Township School District GO, NATL Insured, Pre-Refunded, 5.00%, 7/15/30     10,038,000   10,214,586
Cape May County Industrial PCFA Revenue, Atlantic City Electric Co. Project, Refunding, Series A,          
     NATL Insured, 6.80%, 3/01/21     5,400,000   6,563,916
Cumberland County Improvement Authority Revenue, Technical High School Project, AGMC Insured,          
      5.00%, 9/01/39     4,000,000   4,525,880
  Egg Harbor Township School District GO, NATL Insured, Pre-Refunded, 5.00%, 4/01/30     3,027,000   3,037,988
Hudson County Improvement Authority Lease Revenue, County Secured, County Services Building          
   Project, AGMC Insured, 5.00%, 4/01/32     3,895,000   4,184,048
Hudson County Improvement Authority Parking Revenue, County-Guaranteed, Harrison Parking          
Facility Redevelopment Project, Series C, Assured Guaranty, 5.125%, 1/01/34     2,000,000   2,254,960
  Middlesex County COP, NATL Insured, zero cpn., 6/15/24     1,000,000   755,780
Middlesex County Improvement Authority Lease Revenue, County Guaranteed, Regional Educational          
Services Commission Projects, Pre-Refunded, 5.25%, 12/15/33     3,000,000   3,479,100
Middlesex County Improvement Authority Revenue, Administration Building Residential Project,          
FNMA Insured,          
      5.25%, 7/01/21     640,000   641,312
      5.35%, 7/01/34     1,575,000   1,577,189
Morristown Parking Authority Revenue, Guaranteed Parking, NATL Insured, 5.00%,          
8/01/30     1,815,000   1,981,853
8/01/33     2,630,000   2,863,228
New Jersey EDA, GO Lease Revenue, Rutgers University, College Avenue Redevelopment Project,          
    5.00%,        
   6/15/38     5,000,000   5,755,900
   6/15/46     7,500,000   8,515,725
New Jersey EDA Revenue,          
Cigarette Tax, Refunding, 5.00%, 6/15/24     7,000,000   7,933,730
Cigarette Tax, Refunding, 5.00%, 6/15/28     3,000,000   3,329,580
Cigarette Tax, Refunding, 5.00%, 6/15/29     1,000,000   1,103,730
Cigarette Tax, Refunding, Assured Guaranty, 5.00%, 6/15/22     10,000,000   11,676,000
Montclair State University Student Housing Project, Provident Group, Montclair Properties LLC,          
    Series A, 5.875%, 6/01/42     17,950,000   20,369,660
  Motor Vehicle Surcharges, Series A, NATL Insured, 5.00%, 7/01/27     5,000,000   5,052,000
  Motor Vehicle Surcharges, Series A, NATL Insured, 5.00%, 7/01/29     12,500,000   12,630,000
  Motor Vehicle Surcharges, Series A, NATL Insured, 5.00%, 7/01/34     10,000,000   10,104,000
  Municipal Rehabilitation, Series A, AMBAC Insured, 5.00%, 4/01/28     15,000,000   15,032,400
School Facilities Construction, Refunding, Series K, NATL Insured, 5.25%, 12/15/21     10,000,000   11,603,500
     School Facilities Construction, Refunding, Series N-1, NATL Insured, 5.50%, 9/01/27     8,660,000   10,537,921
      School Facilities Construction, Refunding, Series NN, 5.00%, 3/01/30     5,000,000   5,403,050
School Facilities Construction, Series KK, 5.00%, 3/01/38     5,000,000   5,398,150
School Facilities Construction, Series L, AGMC Insured, Pre-Refunded, 5.00%, 3/01/30     3,500,000   3,500,000
School Facilities Construction, Series NN, 5.00%, 3/01/28     5,000,000   5,464,250
     School Facilities Construction, Series O, Pre-Refunded, 5.125%, 3/01/28     5,000,000   5,000,000
School Facilities Construction, Series U, AMBAC Insured, 5.00%, 9/01/37     1,790,000   1,869,190
 
 
franklintempleton.com     Annual Report | 139

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin New Jersey Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New Jersey (continued)        
New Jersey EDA Revenue, (continued)        
School Facilities Construction, Series U, AMBAC Insured, Pre-Refunded, 5.00%, 9/01/37 $ 3,210,000 $ 3,561,335
School Facilities Construction, Series Y, 5.00%, 9/01/33   6,000,000   6,509,040
School Facilities Construction, Series Z, Assured Guaranty, 5.50%, 12/15/34   1,040,000   1,175,522
School Facilities Construction, Series Z, Assured Guaranty, Pre-Refunded, 5.50%, 12/15/34   1,960,000   2,287,183
School Facilities, Series U, 5.00%, 9/01/37   1,720,000   1,796,093
School Facilities, Series U, Pre-Refunded, 5.00%, 9/01/37   3,280,000   3,638,996
New Jersey EDA State Lease Revenue, Liberty State Park Lease Rental, Refunding, AMBAC Insured,        
5.75%, 3/15/20   4,605,000   4,622,038
New Jersey EDA Water Facilities Revenue, New Jersey-American Water Co. Inc. Project, Refunding,        
Series A, 5.70%, 10/01/39   10,000,000   11,468,300
Series B, 5.00%, 10/01/39   8,750,000   9,419,025
New Jersey Health Care Facilities Financing Authority Revenue,        
Atlantic Health System Hospital Corp. Issue, 6.00%, 7/01/41   10,600,000   12,826,530
Atlantic Health System Hospital Corp. Issue, Series A, 5.00%, 7/01/27   8,000,000   8,874,400
AtlantiCare Regional Medical Center Issue, Refunding, 5.00%, 7/01/25   4,605,000   5,009,411
AtlantiCare Regional Medical Center Issue, Refunding, 5.00%, 7/01/37   19,490,000   20,802,067
Barnabas Health Issue, Refunding, Series A, 5.625%, 7/01/32   5,500,000   6,418,995
Barnabas Health Obligated Group Issue, Refunding, Series A, 5.00%, 7/01/44   10,000,000   11,175,800
Hackensack University Medical Center, Refunding, Assured Guaranty, 5.25%, 1/01/31   5,000,000   5,462,800
Hackensack University Medical Center, Refunding, Assured Guaranty, 5.25%, 1/01/36   5,000,000   5,458,450
Holy Name Hospital Issue, 5.00%, 7/01/36   5,000,000   5,158,450
Hunterdon Medical Center Issue, Series A, Pre-Refunded, 5.125%, 7/01/35   2,000,000   2,127,500
Hunterdon Medical Center Obligated Group Issue, Refunding, 5.00%, 7/01/45   2,650,000   2,934,902
Meridian Health System Obligated Group Issue, Refunding, 5.00%, 7/01/27   2,500,000   2,872,575
Meridian Health System Obligated Group Issue, Tranche I, Assured Guaranty, 5.00%, 7/01/38   9,675,000   10,486,926
Meridian Health System Obligated Group Issue, Tranche II, Assured Guaranty, 5.00%, 7/01/38   13,550,000   14,687,116
Robert Wood Johnson University Hospital Issue, Series A, 5.00%, 7/01/43   3,650,000   4,060,734
Robert Wood Johnson University Hospital Issue, Series A, 5.50%, 7/01/43   4,000,000   4,664,360
South Jersey Hospital Issue, Pre-Refunded, 5.00%, 7/01/46   665,000   706,297
South Jersey Hospital Issue, Refunding, 5.00%, 7/01/46   26,535,000   27,347,767
South Jersey Hospital Issue, 5.00%, 7/01/36   12,000,000   12,518,040
St. Barnabas Health Care System Issue, Series A, 5.00%, 7/01/29   6,990,000   7,413,035
St. Luke’s Warren Hospital Obligated Group Issue, Refunding, 5.00%, 8/15/31   2,935,000   3,268,123
St. Luke’s Warren Hospital Obligated Group Issue, Refunding, 5.00%, 8/15/34   1,500,000   1,656,360
St. Peter’s University Hospital Obligated Group Issue, Refunding, 6.00%, 7/01/26   1,000,000   1,132,200
St. Peter’s University Hospital Obligated Group Issue, Refunding, 6.25%, 7/01/35   3,400,000   3,771,450
Virtua Health Issue, Series A, Assured Guaranty, 5.50%, 7/01/38   10,000,000   11,465,300
New Jersey Health Care Facilities Financing Authority State Contract Revenue, Hospital Asset        
Transformation Program, Series A,        
5.75%, 10/01/31   10,000,000   11,684,000
5.25%, 10/01/38   15,000,000   16,526,250
New Jersey Institute of Technology GO, Series A, 5.00%, 7/01/42   7,000,000   7,826,350
New Jersey State COP, Equipment Lease Purchase Agreement, Series A, 5.25%, 6/15/29   1,000,000   1,106,230
New Jersey State Educational Facilities Authority Revenue,        
The College of New Jersey Issue, Refunding, Series D, AGMC Insured, 5.00%, 7/01/28   5,940,000   6,546,593
The College of New Jersey Issue, Refunding, Series D, AGMC Insured, 5.00%, 7/01/35   11,000,000   12,041,260
Georgian Court University, Refunding, Series D, 5.00%, 7/01/27   1,325,000   1,412,649
Georgian Court University, Refunding, Series D, 5.00%, 7/01/33   1,000,000   1,051,690
Kean University Issue, Refunding, Series A, 5.50%, 9/01/36   8,500,000   9,530,965
Kean University Issue, Series B, NATL Insured, Pre-Refunded, 5.00%, 7/01/30   5,240,000   5,565,404
 
 
140 | Annual Report   franklintempleton.com

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin New Jersey Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
New Jersey (continued)        
New Jersey State Educational Facilities Authority Revenue, (continued)        
Kean University Issue, Series D, AGMC Insured, 5.00%, 7/01/39 $ 1,000,000 $ 1,040,210
Kean University Issue, Series D, NATL Insured, 5.00%, 7/01/39   4,695,000   4,985,714
Montclair State University Issue, Refunding, Series A, 5.00%, 7/01/44   7,000,000   8,075,760
Montclair State University Issue, Refunding, Series A, AMBAC Insured, 5.00%, 7/01/31   10,000,000   10,390,100
Montclair State University Issue, Refunding, Series A, AMBAC Insured, 5.00%, 7/01/36   20,000,000   20,729,400
Montclair State University Issue, Series A, 5.00%, 7/01/39   5,000,000   5,790,350
Montclair State University Issue, Series J, 5.25%, 7/01/38   2,000,000   2,191,120
Princeton University, Refunding, Series A, 5.00%, 7/01/30   5,000,000   5,062,000
Princeton University, Refunding, Series B, 5.00%, 7/01/44   15,000,000   17,637,450
Princeton University, Refunding, Series E, 5.00%, 7/01/33   5,000,000   5,412,650
Princeton University, Series B, 5.00%, 7/01/39   15,000,000   17,323,050
Princeton University, Series B, 4.375%, 7/01/41   10,000,000   10,846,400
Ramapo College of New Jersey Issue, Series B, 5.00%, 7/01/37   1,000,000   1,107,710
Ramapo College of New Jersey Issue, Series B, 5.00%, 7/01/42   1,000,000   1,102,250
The Richard Stockton College of New Jersey Issue, Refunding, Series A, 5.375%, 7/01/38   5,000,000   5,514,600
The Richard Stockton College of New Jersey Issue, Refunding, Series F, AMBAC Insured,        
5.00%, 7/01/28   2,370,000   2,386,756
Rowan University Issue, Refunding, Series D, AMBAC Insured, 5.00%, 7/01/24   1,755,000   1,774,094
Seton Hall University Issue, Refunding, Series E, 6.25%, 7/01/37   5,000,000   5,759,450
Stevens Institute of Technology Issue, Refunding, Series A, 5.00%, 7/01/34   4,750,000   4,981,277
Stevens Institute of Technology Issue, Refunding, Series I, 5.00%, 7/01/18   410,000   411,193
Stevens Institute of Technology Issue, Refunding, Series I, 5.00%, 7/01/28   865,000   866,618
Stevens Institute of Technology Issue, Series I, ETM, 5.00%, 7/01/18   355,000   368,689
Stevens Institute of Technology Issue, Series I, ETM, 5.00%, 7/01/28   710,000   800,731
The William Paterson University of New Jersey Issue, Series C, Assured Guaranty, 5.00%,        
7/01/38   5,500,000   5,838,250
New Jersey State Higher Education Assistance Authority Student Loan Revenue,        
Refunding, Series 1, 5.875%, 12/01/33   2,140,000   2,385,608
Refunding, Series 1A, 5.00%, 12/01/25   3,365,000   3,686,728
Refunding, Series 1A, 5.00%, 12/01/26   1,640,000   1,791,470
Refunding, Series 1A, 5.125%, 12/01/27   4,020,000   4,417,136
Refunding, Series 1A, 5.25%, 12/01/28   4,025,000   4,431,646
Series 2, 5.00%, 12/01/26   2,495,000   2,719,176
Series 2, 5.00%, 12/01/27   1,815,000   1,968,186
Series 2, 5.00%, 12/01/28   1,820,000   1,965,709
Series 2, 5.00%, 12/01/30   1,500,000   1,614,420
Series 2, 5.00%, 12/01/36   1,000,000   1,087,930
Series A, 5.625%, 6/01/30   14,500,000   16,029,025
Series A, Assured Guaranty, 6.125%, 6/01/30   8,910,000   9,501,446
New Jersey State Housing and Mortgage Finance Agency MFHR, Series I, 5.75%, 11/01/38   2,490,000   2,595,103
New Jersey State Housing and Mortgage Finance Agency SFHR, Series AA, 6.50%, 10/01/38   2,300,000   2,400,648
New Jersey State Transportation Trust Fund Authority Revenue,        
Capital Appreciation, Transportation System, Series A, zero cpn., 12/15/29   5,000,000   2,582,600
Capital Appreciation, Transportation System, Series A, zero cpn., 12/15/32   10,000,000   4,347,600
Capital Appreciation, Transportation System, Series C, AGMC Insured, zero cpn., 12/15/33   10,000,000   4,118,300
Transportation Program, Series AA, 5.25%, 6/15/31   11,500,000   12,988,215
Transportation System, Series A, 6.00%, 12/15/38   16,110,000   18,444,500
Transportation System, Series A, 5.50%, 6/15/41   5,000,000   5,583,050
Transportation System, Series A, AGMC Insured, 5.00%, 12/15/34   15,000,000   15,988,200
Transportation System, Series A, AMBAC Insured, 5.00%, 12/15/34   10,000,000   10,617,300
 
 
franklintempleton.com   Annual Report | 141

 


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

  Franklin New Jersey Tax-Free Income Fund (continued)        
      Principal    
      Amount   Value
  Municipal Bonds (continued)        
  New Jersey (continued)        
  New Jersey State Transportation Trust Fund Authority Revenue, (continued)        
  Transportation System, Series A, Pre-Refunded, 6.00%, 12/15/38 $ 8,890,000 $ 10,556,786
  Transportation System, Series B, 5.00%, 6/15/42   7,000,000   7,497,350
  New Jersey State Turnpike Authority Turnpike Revenue,        
  Growth and Income Securities, Series B, AMBAC Insured, 5.15%, 1/01/35   7,500,000   7,845,300
  Refunding, Series I, 5.00%, 1/01/35   5,000,000   5,552,650
  Series E, 5.25%, 1/01/40   30,000,000   33,279,900
  Series H, 5.00%, 1/01/36   14,000,000   15,527,820
  North Hudson Sewerage Authority Gross Revenue, Lease Certificates, Refunding, Series A, 5.00%,        
  6/01/42   17,800,000   19,589,612
  Passaic County Improvement Authority Parking Facilities Revenue, 200 Hospital Plaza Corp. Project,        
  5.00%, 5/01/42   3,200,000   3,619,552
  Rutgers State University GO,        
  Series F, 5.00%, 5/01/39   20,000,000   22,348,200
  Series L, 5.00%, 5/01/43   20,000,000   22,735,400
  Salem County PCFA, PCR, Atlantic City Electric Co. Project, Refunding, Series A, 4.875%,        
  6/01/29   5,000,000   5,450,400
  Sussex County Municipal Utilities Authority Wastewater Facilities Revenue, Capital Appreciation,        
  Series B, AGMC Insured, zero cpn.,        
  12/01/35   2,815,000   975,510
  12/01/36   2,810,000   913,643
  12/01/37   2,815,000   862,516
  12/01/38   2,810,000   809,954
  Upper Freehold Regional School District GO, NATL Insured, Pre-Refunded, 5.00%, 2/15/35   8,730,000   9,486,716
          951,561,553
  New York 9.5%        
  Port Authority of New York and New Jersey Revenue, Consolidated,        
  One Hundred Fifty-Third Series, Refunding, 5.00%, 7/15/38   8,850,000   9,779,338
  One Hundred Forty-Eighth Series, AGMC Insured, 5.00%, 8/15/34   10,000,000   10,873,100
  One Hundred Forty-Eighth Series, AGMC Insured, 5.00%, 8/15/37   5,000,000   5,425,200
  One Hundred Forty-Fourth Series, 5.00%, 10/01/29   5,000,000   5,332,050
  One Hundred Forty-Ninth Series, 5.00%, 11/15/31   10,000,000   10,997,000
  One Hundred Seventy-First Series, Refunding, 5.00%, 7/15/30   12,200,000   14,029,390
  One Hundred Seventy-Ninth Series, 5.00%, 12/01/38   15,000,000   17,241,300
  One Hundred Sixtieth Series, Refunding, 5.00%, 9/15/36   15,000,000   17,037,300
  One Hundred Sixty-First Series, 5.00%, 10/15/33   10,000,000   11,439,100
  One Hundred Sixty-Sixth Series, Refunding, 5.25%, 7/15/36   5,000,000   5,763,150
  Port Authority of New York and New Jersey Special Project Revenue, JFK International Air Terminal        
  LLC Project, NATL Insured, 5.75%, 12/01/22   8,000,000   8,027,840
          115,944,768
  Pennsylvania 2.6%        
  Delaware River Joint Toll Bridge Commission Bridge Revenue, Series A, NATL Insured,        
  5.00%, 7/01/35   1,625,000   1,742,845
  Pre-Refunded, 5.00%, 7/01/35   3,375,000   3,719,824
  Delaware River Port Authority Revenue,        
  5.00%, 1/01/37   10,000,000   11,365,700
  Series E, 5.00%, 1/01/35   14,000,000   15,380,540
          32,208,909

 

142 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
STATEMENT OF INVESTMENTS

Franklin New Jersey Tax-Free Income Fund (continued)        
    Principal    
    Amount   Value
Municipal Bonds (continued)        
U.S. Territories 6.9%        
Puerto Rico 6.9%        
Puerto Rico Commonwealth GO, Public Improvement,        
Refunding, Series A-4, AGMC Insured, 5.00%, 7/01/31 $ 5,000,000 $ 5,062,650
Series B, Pre-Refunded, 5.00%, 7/01/35   3,175,000   3,373,470
Puerto Rico Electric Power Authority Power Revenue,        
Series RR, FGIC Insured, Pre-Refunded, 5.00%, 7/01/35   25,000,000   25,392,000
Series WW, 5.50%, 7/01/38   16,620,000   9,515,116
Series XX, 5.25%, 7/01/40   3,125,000   1,781,281
Puerto Rico Industrial Tourist Educational Medical and Environmental Control Facilities Financing        
Authority Educational Facilities Revenue, University Plaza Project, Series A, NATL Insured, 5.00%,        
7/01/33   1,000,000   994,000
Puerto Rico Infrastructure Financing Authority Revenue, Ports Authority Project, Series B, 5.25%,        
12/15/26   5,250,000   3,317,475
Puerto Rico Sales Tax FICO Sales Tax Revenue, first subordinate,        
Series A, 5.75%, 8/01/37   10,000,000   6,962,700
Series A, 6.00%, 8/01/42   30,000,000   21,038,100
Series C, 5.50%, 8/01/40   10,000,000   6,637,600
        84,074,392
Total Municipal Bonds (Cost $1,132,387,278) 97.8%       1,190,509,682
Other Assets, less Liabilities 2.2%       26,308,071
Net Assets 100.0%     $ 1,216,817,753

 

See Abbreviations on page 168.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 143


 

FRANKLIN TAX-FREE TRUST                        
 
 
 
 
Financial Statements                        
 
Statements of Assets and Liabilities                        
February 28, 2015                        
 
    Franklin     Franklin Federal     Franklin Federal     Franklin  
    Double     Intermediate-Term     Limited-Term     High Yield  
    Tax-Free     Tax-Free     Tax-Free     Tax-Free  
    Income Fund     Income Fund     Income Fund     Income Fund  
Assets:                        
Investments in securities:                        
Cost $ 220,928,922   $ 4,125,347,591   $ 1,106,516,895   $ 7,350,121,646  
Value $ 201,783,098   $ 4,406,213,933   $ 1,122,066,159   $ 8,145,072,343  
Cash   35,629,190     146,993,586     123,922     321,758,511  
Receivables:                        
Investment securities sold               9,599,688  
Capital shares sold   8,975     13,656,229     1,876,461     18,599,068  
Interest   2,900,083     45,941,380     10,066,207     99,237,218  
Other assets   158     2,993     741     5,608  
Total assets   240,321,504     4,612,808,121     1,134,133,490     8,594,272,436  
Liabilities:                        
Payables:                        
Investment securities purchased       29,857,477     8,195,006     22,760,200  
Capital shares redeemed   516,142     8,210,804     3,095,051     21,581,240  
Management fees   110,032     1,731,387     397,842     3,209,285  
Distribution fees   33,082     368,245     101,388     952,793  
Transfer agent fees   35,216     818,270     107,944     1,225,355  
Distributions to shareholders   115,246     1,250,692     209,910     4,198,646  
Accrued expenses and other liabilities   14,143     195,653     42,562     276,696  
       Total liabilities   823,861     42,432,528     12,149,703     54,204,215  
                Net assets, at value $ 239,497,643   $ 4,570,375,593   $ 1,121,983,787   $ 8,540,068,221  
Net assets consist of:                        
Paid-in capital $ 337,940,707   $ 4,348,858,193   $ 1,106,772,465   $ 8,296,040,425  
Undistributed net investment income   703,317     893,911     956,633     20,596,911  
Net unrealized appreciation (depreciation)   (19,145,824 )   280,866,342     15,549,264     794,950,697  
Accumulated net realized gain (loss)   (80,000,557 )   (60,242,853 )   (1,294,575 )   (571,519,812 )
                Net assets, at value $ 239,497,643   $ 4,570,375,593   $ 1,121,983,787   $ 8,540,068,221  

 

144 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

            FRANKLIN TAX-FREE TRUST
            FINANCIAL STATEMENTS
 
 
Statements of Assets and Liabilities (continued)                
February 28, 2015                
 
    Franklin   Franklin Federal   Franklin Federal   Franklin
    Double   Intermediate-Term   Limited-Term   High Yield
    Tax-Free   Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund   Income Fund
Class A:                
Net assets, at value $ 196,845,775 $ 1,828,050,040 $ 890,555,682 $ 5,244,428,226
Shares outstanding   19,930,989   146,966,883   85,055,202   491,195,383
Net asset value per sharea $ 9.88 $ 12.44 $ 10.47 $ 10.68
Maximum offering price per share (net asset value                
per share ÷ 95.75%, 97.75%, 97.75%, 95.75%,                
       respectively) $ 10.32 $ 12.73 $ 10.71 $ 11.15
Class C:                
Net assets, at value $ 37,310,924 $ 456,698,154   $ 1,100,883,240
Shares outstanding   3,760,262   36,618,611     101,401,963
Net asset value and maximum offering price                
per sharea $ 9.92 $ 12.47   $ 10.86
Advisor Class:                
Net assets, at value $ 5,340,944 $ 2,285,627,399 $ 231,428,105 $ 2,194,756,755
Shares outstanding   539,884   183,359,942   22,115,474   204,762,370
Net asset value and maximum offering price                
per share $ 9.89 $ 12.47 $ 10.46 $ 10.72

 

aRedemption price is equal to net asset value less contingent deferred sales charges, if applicable.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 145


 

FRANKLIN TAX-FREE TRUST                  
FINANCIAL STATEMENTS                  
 
 
Statements of Assets and Liabilities (continued)                  
February 28, 2015                  
 
    Franklin     Franklin     Franklin  
    Insured     Massachusetts     New Jersey  
    Tax-Free     Tax-Free     Tax-Free  
    Income Fund     Income Fund     Income Fund  
Assets:                  
Investments in securities:                  
Cost $ 1,884,839,487   $ 474,791,101   $ 1,132,387,278  
Value $ 2,066,174,850   $ 509,119,559   $ 1,190,509,682  
Cash   85,448,367     1,458,763     16,691,601  
Receivables:                  
Capital shares sold   212,389     291,196     614,374  
Interest   24,287,445     5,348,362     12,767,233  
Other assets   1,435     341     810  
Total assets   2,176,124,486     516,218,221     1,220,583,700  
Liabilities:                  
Payables:                  
Investment securities purchased       2,481,760      
Capital shares redeemed   3,124,703     957,187     2,188,570  
Management fees   833,663     212,725     476,524  
Distribution fees   283,940     65,149     184,875  
Transfer agent fees   176,007     38,963     151,701  
Distributions to shareholders   948,068     253,133     721,947  
Accrued expenses and other liabilities   63,369     16,300     42,330  
      Total liabilities   5,429,750     4,025,217     3,765,947  
         Net assets, at value $ 2,170,694,736   $ 512,193,004   $ 1,216,817,753  
Net assets consist of:                  
Paid-in capital $ 2,047,014,561   $ 496,512,255   $ 1,206,629,866  
Undistributed net investment income   3,978,016     540,383     2,370,822  
Net unrealized appreciation (depreciation)   181,335,363     34,328,458     58,122,404  
Accumulated net realized gain (loss)   (61,633,204 )   (19,188,092 )   (50,305,339 )
         Net assets, at value $ 2,170,694,736   $ 512,193,004   $ 1,216,817,753  

 

146 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

        FRANKLIN TAX-FREE TRUST
        FINANCIAL STATEMENTS
 
 
Statements of Assets and Liabilities (continued)            
February 28, 2015            
 
    Franklin   Franklin   Franklin
    Insured   Massachusetts   New Jersey
    Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund
Class A:            
Net assets, at value $ 1,808,967,503 $ 439,041,297 $ 893,018,352
Shares outstanding   143,751,423   36,809,127   74,716,147
Net asset value per sharea $ 12.58 $ 11.93 $ 11.95
Maximum offering price per share (net asset value per share ÷ 95.75%) $ 13.14 $ 12.46 $ 12.48
Class C:            
Net assets, at value $ 308,279,917 $ 62,877,977 $ 231,740,144
Shares outstanding   24,162,726   5,215,683   19,164,022
Net asset value and maximum offering price per sharea $ 12.76 $ 12.06 $ 12.09
Advisor Class:            
Net assets, at value $ 53,447,316 $ 10,273,730 $ 92,059,257
Shares outstanding   4,248,856   861,457   7,697,654
Net asset value and maximum offering price per share $ 12.58 $ 11.93 $ 11.96

 

aRedemption price is equal to net asset value less contingent deferred sales charges, if applicable.

franklintempleton.com The accompanying notes are an integral part of these financial statements. | Annual Report | 147


 

FRANKLIN TAX-FREE TRUST
FINANCIAL STATEMENTS

 

Statements of Operations
for the year ended February 28, 2015

          Franklin     Franklin        
    Franklin     Federal     Federal     Franklin  
    Double     Intermediate-     Limited-Term     High Yield  
    Tax-Free     Term Tax-Free     Tax-Free     Tax-Free  
    Income Fund     Income Fund     Income Fund     Income Fund  
Investment income:                        
Interest $ 16,177,227   $ 140,228,129   $ 19,035,936   $ 414,966,701  
Expenses:                        
Management fees (Note 3a)   1,458,228     19,611,105     5,544,248     37,389,842  
Distribution fees: (Note 3c)                        
Class A   213,198     1,779,403     1,402,734     5,140,721  
Class C   276,859     2,929,395         6,975,732  
Transfer agent fees: (Note 3e)                        
Class A   157,981     1,728,729     406,789     3,417,212  
Class C   29,886     438,772         713,167  
Advisor Class   3,498     1,984,761     90,238     1,346,556  
Custodian fees   2,201     37,745     10,138     71,846  
Reports to shareholders   30,546     438,548     51,111     477,723  
Registration and filing fees   47,517     299,334     65,003     287,173  
Professional fees   68,487     81,801     48,068     429,446  
Trustees’ fees and expenses   1,577     22,566     6,200     43,967  
Other   20,141     206,081     94,615     762,169  
             Total expenses   2,310,119     29,558,240     7,719,144     57,055,554  
Expenses waived/paid by affiliates (Note 3f)           (941,421 )    
               Net expenses   2,310,119     29,558,240     6,777,723     57,055,554  
Net investment income   13,867,108     110,669,889     12,258,213     357,911,147  
Realized and unrealized gains (losses):                        
Net realized gain (loss) from investments   (42,823,364 )   (13,230,038 )   (1,021,923 )   (37,211,222 )
Net change in unrealized appreciation (depreciation) on                        
investments   47,073,547     91,568,904     (4,034,897 )   457,926,800  
Net realized and unrealized gain (loss)   4,250,183     78,338,866     (5,056,820 )   420,715,578  
Net increase (decrease) in net assets resulting from                        
operations $ 18,117,291   $ 189,008,755   $ 7,201,393   $ 778,626,725  

 

148 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

          FRANKLIN TAX-FREE TRUST  
          FINANCIAL STATEMENTS  
 
 
Statements of Operations (continued)                  
for the year ended February 28, 2015                  
 
    Franklin     Franklin     Franklin  
    Insured     Massachusetts     New Jersey  
    Tax-Free     Tax-Free     Tax-Free  
    Income Fund     Income Fund     Income Fund  
Investment income:                  
Interest $ 101,321,499   $ 21,194,809   $ 57,748,431  
Expenses:                  
Management fees (Note 3a)   10,160,316     2,510,566     5,859,168  
Distribution fees: (Note 3c)                  
Class A   1,715,348     432,005     932,636  
Class C   2,073,650     401,475     1,549,314  
Transfer agent fees: (Note 3e)                  
Class A   779,012     170,036     454,036  
Class C   135,290     24,308     116,053  
Advisor Class   21,209     2,825     38,422  
Custodian fees   19,449     4,483     11,057  
Reports to shareholders   96,604     20,247     52,736  
Registration and filing fees   62,041     31,151     24,906  
Professional fees   109,607     41,475     68,657  
Trustees’ fees and expenses   11,993     2,682     6,812  
Other   105,271     29,780     70,712  
           Total expenses   15,289,790     3,671,033     9,184,509  
              Net investment income   86,031,709     17,523,776     48,563,922  
Realized and unrealized gains (losses):                  
Net realized gain (loss) from investments   (9,378,262 )   (4,329,941 )   (28,139,542 )
Net change in unrealized appreciation (depreciation) on investments   111,954,512     26,286,456     48,689,744  
Net realized and unrealized gain (loss)   102,576,250     21,956,515     20,550,202  
Net increase (decrease) in net assets resulting from operations $ 188,607,959   $ 39,480,291   $ 69,114,124  

 

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 149


 

FRANKLIN TAX-FREE TRUST                        
FINANCIAL STATEMENTS                        
 
 
Statements of Changes in Net Assets                        
 
 
                Franklin Federal  
    Franklin Double     Intermediate-Term  
    Tax-Free Income Fund     Tax-Free Income Fund  
    Year Ended February 28,     Year Ended February 28,  
    2015     2014     2015     2014  
Increase (decrease) in net assets:                        
Operations:                        
Net investment income $ 13,867,108   $ 24,801,624   $ 110,669,889   $ 104,076,552  
Net realized gain (loss) from investments   (42,823,364 )   (30,249,145 )   (13,230,038 )   (23,344,484 )
Net change in unrealized appreciation                        
(depreciation) on investments   47,073,547     (98,412,208 )   91,568,904     (101,859,297 )
Net increase (decrease) in net assets                        
              resulting from operations   18,117,291     (103,859,729 )   189,008,755     (21,127,229 )
Distributions to shareholders from:                        
Net investment income:                        
Class A   (12,177,338 )   (20,591,558 )   (46,577,867 )   (55,999,654 )
Class C   (2,067,311 )   (3,295,261 )   (9,321,044 )   (10,924,668 )
Advisor Class   (273,031 )   (476,276 )   (55,388,774 )   (35,693,521 )
Total distributions to shareholders   (14,517,680 )   (24,363,095 )   (111,287,685 )   (102,617,843 )
Capital share transactions: (Note 2)                        
Class A   (88,359,283 )   (212,864,101 )   48,337,464     (434,202,030 )
Class C   (14,436,279 )   (45,408,962 )   (4,766,376 )   (77,074,643 )
Advisor Class   (95,653 )   (6,775,581 )   450,330,038     686,468,135  
Total capital share transactions   (102,891,215 )   (265,048,644 )   493,901,126     175,191,462  
Net increase (decrease) in net assets   (99,291,604 )   (393,271,468 )   571,622,196     51,446,390  
Net assets:                        
Beginning of year   338,789,247     732,060,715     3,998,753,397     3,947,307,007  
End of year $ 239,497,643   $ 338,789,247   $ 4,570,375,593   $ 3,998,753,397  
Undistributed net investment income included                        
in net assets:                        
End of year $ 703,317   $ 1,443,889   $ 893,911   $ 1,548,090  

 

150 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

                FRANKLIN TAX-FREE TRUST  
                FINANCIAL STATEMENTS  
 
 
Statements of Changes in Net Assets (continued)                        
 
 
    Franklin Federal Limited-Term     Franklin High Yield  
    Tax-Free Income Fund     Tax-Free Income Fund  
    Year Ended February 28,     Year Ended February 28,  
    2015     2014     2015     2014  
Increase (decrease) in net assets:                        
Operations:                        
Net investment income $ 12,258,213   $ 13,324,146   $ 357,911,147   $ 403,149,874  
Net realized gain (loss) from investments   (1,021,923 )   175,379     (37,211,222 )   (239,073,701 )
Net change in unrealized appreciation (depreciation)                        
on investments   (4,034,897 )   (3,603,564 )   457,926,800     (571,611,548 )
Net increase (decrease) in net assets resulting                        
               from operations   7,201,393     9,895,961     778,626,725     (407,535,375 )
Distributions to shareholders from:                        
Net investment income:                        
Class A   (9,202,546 )   (11,009,041 )   (228,761,160 )   (250,275,056 )
Class C           (41,044,179 )   (46,366,828 )
Advisor Class   (2,355,965 )   (1,860,794 )   (91,544,704 )   (91,162,719 )
Total distributions to shareholders   (11,558,511 )   (12,869,835 )   (361,350,043 )   (387,804,603 )
Capital share transactions: (Note 2)                        
Class A   (83,128,206 )   202,080,079     (30,286,601 )   (1,038,781,188 )
Class B               (422,960 )
Class C           3,059,491     (292,046,584 )
Advisor Class   48,676,354     74,832,596     355,165,279     (241,499,831 )
Total capital share transactions   (34,451,852 )   276,912,675     327,938,169     (1,572,750,563 )
Net increase (decrease) in net assets   (38,808,970 )   273,938,801     745,214,851     (2,368,090,541 )
Net assets:                        
Beginning of year   1,160,792,757     886,853,956     7,794,853,370     10,162,943,911  
End of year $ 1,121,983,787   $ 1,160,792,757   $ 8,540,068,221   $ 7,794,853,370  
Undistributed net investment income included                        
in net assets:                        
End of year $ 956,633   $ 269,090   $ 20,596,911   $ 26,210,656  

 

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 151


 

FRANKLIN TAX-FREE TRUST                        
FINANCIAL STATEMENTS                        
 
 
Statements of Changes in Net Assets (continued)                        
 
 
    Franklin Insured     Franklin Massachusetts  
    Tax-Free Income Fund     Tax-Free Income Fund  
    Year Ended February 28,     Year Ended February 28,  
    2015     2014     2015     2014  
Increase (decrease) in net assets:                        
Operations:                        
Net investment income $ 86,031,709   $ 100,593,411   $ 17,523,776   $ 19,477,550  
Net realized gain (loss) from investments   (9,378,262 )   (33,887,257 )   (4,329,941 )   (11,915,165 )
Net change in unrealized appreciation (depreciation)                        
on investments   111,954,512     (126,294,534 )   26,286,456     (29,219,409 )
Net increase (decrease) in net assets resulting                        
               from operations   188,607,959     (59,588,380 )   39,480,291     (21,657,024 )
Distributions to shareholders from:                        
Net investment income:                        
Class A   (73,517,323 )   (81,522,827 )   (15,566,672 )   (16,109,085 )
Class C   (10,821,585 )   (13,362,543 )   (1,862,717 )   (2,168,600 )
Advisor Class   (2,050,362 )   (2,219,822 )   (265,537 )   (242,092 )
Total distributions to shareholders   (86,389,270 )   (97,105,192 )   (17,694,926 )   (18,519,777 )
Capital share transactions: (Note 2)                        
Class A   (156,612,631 )   (545,755,568 )   707,116     (72,722,670 )
Class B       (383,713 )        
Class C   (40,505,660 )   (186,317,373 )   (1,608,203 )   (22,518,228 )
Advisor Class   4,561,234     (21,923,978 )   5,418,308     (3,917,811 )
Total capital share transactions   (192,557,057 )   (754,380,632 )   4,517,221     (99,158,709 )
Net increase (decrease) in net assets   (90,338,368 )   (911,074,204 )   26,302,586     (139,335,510 )
Net assets:                        
Beginning of year   2,261,033,104     3,172,107,308     485,890,418     625,225,928  
End of year $ 2,170,694,736   $ 2,261,033,104   $ 512,193,004   $ 485,890,418  
Undistributed net investment income included                        
in net assets:                        
End of year $ 3,978,016   $ 4,352,763   $ 540,383   $ 734,523  

 

152 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com


 

    FRANKLIN TAX-FREE TRUST  
    FINANCIAL STATEMENTS  
 
 
Statements of Changes in Net Assets (continued)            
 
 
               Franklin New Jersey  
              Tax-Free Income Fund  
            Year Ended February 28,  
    2015     2014  
Increase (decrease) in net assets:            
Operations:            
Net investment income $ 48,563,922   $ 55,184,542  
Net realized gain (loss) from investments   (28,139,542 )   (20,730,399 )
Net change in unrealized appreciation (depreciation) on investments   48,689,744     (96,341,509 )
Net increase (decrease) in net assets resulting from operations   69,114,124     (61,887,366 )
Distributions to shareholders from:            
Net investment income:            
Class A   (37,392,502 )   (41,541,891 )
Class C   (8,141,258 )   (9,040,613 )
Advisor Class   (3,221,642 )   (2,703,744 )
Total distributions to shareholders   (48,755,402 )   (53,286,248 )
Capital share transactions: (Note 2)            
Class A   (96,307,248 )   (220,351,567 )
Class B       (519,178 )
Class C   (19,745,245 )   (61,287,445 )
Advisor Class   27,658,078     (12,706,308 )
Total capital share transactions   (88,394,415 )   (294,864,498 )
Net increase (decrease) in net assets   (68,035,693 )   (410,038,112 )
Net assets:            
Beginning of year   1,284,853,446     1,694,891,558  
End of year $ 1,216,817,753   $ 1,284,853,446  
Undistributed net investment income included in net assets:            
End of year $ 2,370,822   $ 2,554,308  

 

franklintempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 153


 

FRANKLIN TAX-FREE TRUST

Notes to Financial Statements

1. Organization and Significant Accounting Policies

Franklin Tax-Free Trust (Trust) is registered under the Investment Company Act of 1940, as amended, (1940 Act) as an open-end management investment company, consisting of twenty four separate funds, seven of which are included in this report (Funds) and applies the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP). The financial statements of the remaining funds in the Trust are presented separately. The classes of shares offered within each of the Funds are indicated below. Effective March 1, 2013, all Class B shares were converted to Class A. Each class of shares differs by its initial sales load, contingent deferred sales charges, voting rights on matters affecting a single class, its exchange privilege and fees primarily due to differing arrangements for distribution and transfer agent fees. Franklin Double Tax-Free Income Fund and Franklin Insured Tax-Free Income Fund were closed to investors with limited exceptions effective at the close of market August 1, 2012 and March 1, 2013, respectively.

Class A & Advisor Class

Franklin Federal Limited-Term Tax-Free Income Fund

Class A, Class C & Advisor Class

Franklin Double Tax-Free Income Fund

Franklin Federal Intermediate-Term Tax-Free Income

Fund Franklin High Yield Tax-Free Income Fund

 Franklin Insured Tax-Free Income Fund

 Franklin Massachusetts Tax-Free Income

Fund Franklin New Jersey Tax-Free Income Fund

The following summarizes the Funds’ significant accounting policies.

a. Financial Instrument Valuation

The Funds’ investments in financial instruments are carried at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Funds calculate the net asset value per share at the close of the New York Stock Exchange (NYSE), generally at 4 p.m. Eastern time (NYSE close) on each day the NYSE is open for trading. Under compliance policies and procedures approved

by the Trust’s Board of Trustees (the Board), the Funds’ administrator has responsibility for oversight of valuation, including leading the cross-functional Valuation and Liquidity Oversight Committee (VLOC). The VLOC provides administration and oversight of the Funds’ valuation policies and procedures, which are approved annually by the Board. Among other things, these procedures allow the Funds to utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.

Debt securities generally trade in the over-the-counter market rather than on a securities exchange. The Funds’ pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services also utilize proprietary valuation models which may consider market characteristics such as benchmark yield curves, credit spreads, estimated default rates, anticipated market interest rate volatility, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair value.

Equity securities listed on an exchange or on the NASDAQ National Market System are valued at the last quoted sale price or the official closing price of the day, respectively. Over-the-counter securities are valued within the range of the most recent quoted bid and ask prices. Securities that trade in multiple markets or on multiple exchanges are valued according to the broadest and most representative market. Certain equity securities are valued based upon fundamental characteristics or relationships to similar securities.

The Funds have procedures to determine the fair value of financial instruments for which market prices are not reliable or readily available. Under these procedures, the VLOC convenes on a regular basis to review such financial instruments and considers a number of factors, including significant unobservable valuation inputs, when arriving at fair value. The VLOC primarily employs a market-based approach which

154 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

NOTES TO FINANCIAL STATEMENTS

may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. An income-based valuation approach may also be used in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed. The VLOC employs various methods for calibrating these valuation approaches including a regular review of key inputs and assumptions, transactional back-testing or disposition analysis, and reviews of any related market activity.

b. Securities Purchased on a When-Issued Basis

Certain funds purchase securities on a when-issued basis, with payment and delivery scheduled for a future date. These transactions are subject to market fluctuations and are subject to the risk that the value at delivery may be more or less than the trade date purchase price. Although the funds will generally purchase these securities with the intention of holding the securities, they may sell the securities before the settlement date. Sufficient assets have been segregated for these securities.

c. Income Taxes

It is each fund’s policy to qualify as a regulated investment company under the Internal Revenue Code. Each fund intends to distribute to shareholders substantially all of its income and net realized gains to relieve it from federal income and excise taxes. As a result, no provision for U.S. federal income taxes is required.

Each fund recognizes the tax benefits of uncertain tax positions only when the position is “more likely than not” to be sustained upon examination by the tax authorities based on the technical merits of the tax position. As of February 28, 2015, and for all open tax years, each fund has determined that no liability for unrecognized tax benefits is required in each fund’s financial statements related to uncertain tax positions taken on a tax return (or expected to be taken on future tax returns). Open tax years are those that remain subject to examination and are based on each tax jurisdiction’s statute of limitation.

d. Security Transactions, Investment Income, Expenses and Distributions

Security transactions are accounted for on trade date. Realized gains and losses on security transactions are determined on a specific identification basis. Interest income and estimated expenses are accrued daily. Amortization of premium and accretion of discount on debt securities are included in interest income. Dividends from net investment income are normally declared daily; these dividends may be reinvested or paid monthly to shareholders. Distributions to shareholders are determined according to income tax regulations (tax basis). Distributable earnings determined on a tax basis may differ from earnings recorded in accordance with U.S. GAAP. These differences may be permanent or temporary. Permanent differences are reclassified among capital accounts to reflect their tax character. These reclassifications have no impact on net assets or the results of operations. Temporary differences are not reclassified, as they may reverse in subsequent periods.

Common expenses incurred by the Trust are allocated among the funds based on the ratio of net assets of each fund to the combined net assets of the Trust. Fund specific expenses are charged directly to the fund that incurred the expense.

Realized and unrealized gains and losses and net investment income, not including class specific expenses, are allocated daily to each class of shares based upon the relative proportion of net assets of each class. Differences in per share distributions, by class, are generally due to differences in class specific expenses.

e. Insurance

The scheduled payments of interest and principal for each insured municipal security in the Trust are insured by either a new issue insurance policy or a secondary insurance policy. Some municipal securities in the Funds are secured by collateral guaranteed by an agency of the U.S. government. Depending on the type of coverage, premiums for insurance are either added to the cost basis of the security or paid by a third party.

franklintempleton.com

Annual Report

| 155


 

FRANKLIN TAX-FREE TRUST

NOTES TO FINANCIAL STATEMENTS

1. Organization and Significant Accounting

Policies (continued)

e. Insurance (continued)

Insurance companies typically insure municipal bonds that tend to be of very high quality, with the majority of underlying municipal bonds rated A or better. However, an event involving an insurer could have an adverse effect on the value of the securities insured by that insurance company. There can be no assurance the insurer will be able to fulfill its obligations under the terms of the policy.

f. Accounting Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

g. Guarantees and Indemnifications

Under the Trust’s organizational documents, its officers and trustees are indemnified by the Trust against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust, on behalf of the Funds, enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. Currently, the Trust expects the risk of loss to be remote.

2. Shares of Beneficial Interest

At February 28, 2015, there were an unlimited number of shares authorized (without par value). Transactions in the Funds’ shares were as follows:

            Franklin Federal  
  Franklin Double   Intermediate-Term  
  Tax-Free Income Fund   Tax-Free Income Fund  
  Shares     Amount   Shares     Amount  
 
Class A Shares:                    
Year ended February 28, 2015                    
Shares sold 57,151   $ 572,342   32,918,405   $ 406,702,390  
Shares issued in reinvestment of distributions 1,099,487     10,746,656   3,362,518     41,577,824  
Shares redeemed (10,261,721 )   (99,678,281 ) (32,379,449 )   (399,942,750 )
Net increase (decrease) (9,105,083 ) $ (88,359,283 ) 3,901,474   $ 48,337,464  
Year ended February 28, 2014                    
Shares sold 89,045   $ 919,381   47,978,543   $ 582,835,363  
Shares issued in reinvestment of distributions 1,740,727     18,490,256   4,118,192     49,997,946  
Shares redeemed (22,290,762 )   (232,273,738 ) (88,041,839 )   (1,067,035,339 )
Net increase (decrease) (20,460,990 ) $ (212,864,101 ) (35,945,104 ) $ (434,202,030 )

 

156 | Annual Report

franklintempleton.com


 

              FRANKLIN TAX-FREE TRUST  
          NOTES TO FINANCIAL STATEMENTS  
 
 
 
 
              Franklin Federal  
  Franklin Double   Intermediate-Term  
  Tax-Free Income Fund   Tax-Free Income Fund  
  Shares     Amount   Shares       Amount  
 
Class C Shares:                        
Year ended February 28, 2015                        
Shares sold 4,377     $ 42,947   5,824,546     $ 72,181,917  
Shares issued in reinvestment of distributions 189,350       1,858,470   613,884       7,609,117  
Shares redeemed (1,674,276 )   (16,337,696 ) (6,831,580 )     (84,557,410 )
Net increase (decrease) (1,480,549 ) $ (14,436,279 ) (393,150 )   $ (4,766,376 )
Year ended February 28, 2014                        
Shares sold 39,885     $ 428,946   9,210,350     $ 112,241,169  
Shares issued in reinvestment of distributions 275,174       2,937,098   723,768       8,808,142  
Shares redeemed (4,583,899 )   (48,775,006 ) (16,354,384 )     (198,123,954 )
Net increase (decrease) (4,268,840 ) $ (45,408,962 ) (6,420,266 )   $ (77,074,643 )
 
Advisor Class Shares:                        
Year ended February 28, 2015                        
Shares sold 253,751     $ 2,487,234   57,294,189     $ 709,229,011  
Shares issued in reinvestment of distributions 21,184       207,648   3,778,398       46,851,743  
Shares redeemed (285,144 )     (2,790,535 ) (24,686,207 )     (305,750,716 )
Net increase (decrease) (10,209 )   $ (95,653 ) 36,386,380     $ 450,330,038  
Year ended February 28, 2014                        
Shares sold 115,372     $ 1,287,864   94,095,836   $ 1,146,604,504  
Shares issued in reinvestment of distributions 33,938       364,110   2,264,321       27,522,835  
Shares redeemed (802,146 )     (8,427,555 ) (40,310,145 )     (487,659,204 )
Net increase (decrease) (652,836 )   $ (6,775,581 ) 56,050,012     $ 686,468,135  
 
  Franklin Federal         Franklin  
  Limited-Term              High Yield  
  Tax-Free Income Fund                   Tax-Free Income Fund  
  Shares     Amount   Shares       Amount  
 
Class A Shares:                        
Year ended February 28, 2015                        
Shares sold 18,135,022   $ 190,218,420   62,660,637     $ 656,459,692  
Shares issued in reinvestment of distributions 761,074       7,983,585   18,624,103       195,363,673  
Shares redeemed (26,823,482 )   (281,330,211 ) (84,367,339 )     (882,109,966 )
Net increase (decrease) (7,927,386 ) $ (83,128,206 ) (3,082,599 )   $ (30,286,601 )
Year ended February 28, 2014                        
Shares sold 53,830,197   $ 563,796,058   59,469,325     $ 608,899,547  
Shares issued in reinvestment of distributions 901,683       9,452,483   20,840,626       212,045,170  
Shares redeemed (35,433,429 )   (371,168,462 ) (183,662,490 )     (1,859,725,905 )
Net increase (decrease) 19,298,451   $ 202,080,079   (103,352,539 ) $ (1,038,781,188 )
 
Class B Shares:                        
Year ended February 28, 2014a                        
Shares redeemed             (38,210 )   $ (422,960 )

 

franklintempleton.com

Annual Report | 157


 

FRANKLIN TAX-FREE TRUST                      
NOTES TO FINANCIAL STATEMENTS                      
 
 
 
 
2. Shares of Beneficial Interest (continued)                      
 
  Franklin Federal   Franklin  
  Limited-Term   High Yield  
  Tax-Free Income Fund   Tax-Free Income Fund  
  Shares     Amount   Shares       Amount  
 
Class C Shares:                      
Year ended February 28, 2015                      
Shares sold           12,569,751     $ 133,824,203  
Shares issued in reinvestment of distributions           3,261,409       34,771,040  
Shares redeemed           (15,583,892 )     (165,535,752 )
Net increase (decrease)           247,268     $ 3,059,491  
Year ended February 28, 2014                      
Shares sold           11,402,805     $ 118,998,075  
Shares issued in reinvestment of distributions           3,785,401       39,120,725  
Shares redeemed           (43,840,751 )     (450,165,384 )
Net increase (decrease)           (28,652,545 )   $ (292,046,584 )
 
Advisor Class Shares:                      
Year ended February 28, 2015                      
Shares sold 9,299,475   $ 97,480,472   73,851,493     $ 773,927,526  
Shares issued in reinvestment of distributions 69,730     730,891   7,538,860       79,453,639  
Shares redeemed (4,724,896 )   (49,535,009 ) (47,209,780 )     (498,215,886 )
Net increase (decrease) 4,644,309   $ 48,676,354   34,180,573     $ 355,165,279  
Year ended February 28, 2014                      
Shares sold 12,386,673   $ 129,639,690   101,830,003   $ 1,040,634,829  
Shares issued in reinvestment of distributions 55,791     584,302   7,486,430       76,268,110  
Shares redeemed (5,285,056 )   (55,391,396 ) (134,514,922 )   (1,358,402,770 )
Net increase (decrease) 7,157,408   $ 74,832,596   (25,198,489 )   $ (241,499,831 )
aEffective March 1, 2013, all Class B shares were converted to Class A.                      
 
  Franklin Insured   Franklin Massachusetts  
      Tax-Free Income Fund   Tax-Free Income Fund  
  Shares     Amount   Shares       Amount  
 
Class A Shares:                      
Year ended February 28, 2015                      
Shares sold 235,013   $ 2,898,667   4,006,816     $ 47,230,807  
Shares issued in reinvestment of distributions 5,069,683     62,691,356   1,071,160       12,632,188  
Shares redeemed (18,057,574 )   (222,202,654 ) (5,022,768 )     (59,155,879 )
Net increase (decrease) (12,752,878 ) $ (156,612,631 ) 55,208     $ 707,116  
Year ended February 28, 2014                      
Shares sold 637,933   $ 7,676,017   14,263,643   $ 161,644,051  
Shares issued in reinvestment of distributions 5,766,058     69,110,330   1,132,404       12,939,425  
Shares redeemed (52,027,743 )   (622,541,915 ) (21,877,246 )     (247,306,146 )
Net increase (decrease) (45,623,752 ) $ (545,755,568 ) (6,481,199 ) $ (72,722,670 )
 
Class B Shares:                      
Year ended February 28, 2014a                      
Shares redeemed (30,217 ) $ (383,713 )            

 

158 | Annual Report

franklintempleton.com


 

              FRANKLIN TAX-FREE TRUST  
          NOTES TO FINANCIAL STATEMENTS  
 
 
 
 
  Franklin Insured   Franklin Massachusetts  
  Tax-Free Income Fund   Tax-Free Income Fund  
  Shares       Amount   Shares     Amount  
 
Class C Shares:                      
Year ended February 28, 2015                      
Shares sold 37,330     $ 466,948   498,644   $ 5,937,976  
Shares issued in reinvestment of distributions 771,594       9,669,138   130,847     1,558,988  
Shares redeemed (4,060,660 )     (50,641,746 ) (768,658 )   (9,105,167 )
Net increase (decrease) (3,251,736 ) $ (40,505,660 ) (139,167 ) $ (1,608,203 )
Year ended February 28, 2014                      
Shares sold 144,968     $ 1,774,098   604,890   $ 7,099,778  
Shares issued in reinvestment of distributions 976,889       11,875,249   157,770     1,822,479  
Shares redeemed (16,506,125 )   (199,966,720 ) (2,744,307 )   (31,440,485 )
Net increase (decrease) (15,384,268 ) $ (186,317,373 ) (1,981,647 ) $ (22,518,228 )
 
Advisor Class Shares:                      
Year ended February 28, 2015                      
Shares sold 1,245,512     $ 15,347,839   550,916   $ 6,475,385  
Shares issued in reinvestment of distributions 136,604       1,689,924   17,305     204,798  
Shares redeemed (1,011,958 )     (12,476,529 ) (107,527 )   (1,261,875 )
Net increase (decrease) 370,158     $ 4,561,234   460,694   $ 5,418,308  
Year ended February 28, 2014                      
Shares sold 1,107,166     $ 13,193,385   151,905   $ 1,749,306  
Shares issued in reinvestment of distributions 151,481       1,817,018   12,833     146,853  
Shares redeemed (3,098,210 )     (36,934,381 ) (515,095 )   (5,813,970 )
Net increase (decrease) (1,839,563 ) $ (21,923,978 ) (350,357 ) $ (3,917,811 )
aEffective March 1, 2013, all Class B shares were converted to Class A.                      
 
  Franklin New Jersey            
  Tax-Free Income Fund            
  Shares       Amount            
 
Class A Shares:                      
Year ended February 28, 2015                      
Shares sold 5,873,699     $ 69,880,543            
Shares issued in reinvestment of distributions 2,556,326       30,462,079            
Shares redeemed (16,541,565 )     (196,649,870 )          
Net increase (decrease) (8,111,540 ) $ (96,307,248 )          
Year ended February 28, 2014                      
Shares sold 12,546,810   $ 149,726,572            
Shares issued in reinvestment of distributions 2,820,702       33,503,802            
Shares redeemed (34,038,745 )     (403,581,941 )          
Net increase (decrease) (18,671,233 ) $ (220,351,567 )          
 
Class B Shares:                      
Year ended February 28, 2014a                      
Shares redeemed (40,834 )   $ (519,178 )          

 

franklintempleton.com

Annual Report

| 159


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

2. Shares of Beneficial Interest (continued)            
  Franklin New Jersey  
  Tax-Free Income Fund  
  Shares       Amount  
 
Class C Shares:            
Year ended February 28, 2015            
Shares sold 1,716,248     $ 20,666,801  
Shares issued in reinvestment of distributions 541,847       6,531,280  
Shares redeemed (3,905,744 )     (46,943,326 )
Net increase (decrease) (1,647,649 ) $ (19,745,245 )
Year ended February 28, 2014            
Shares sold 2,277,360     $ 27,788,100  
Shares issued in reinvestment of distributions 602,945       7,239,344  
Shares redeemed (8,052,649 )     (96,314,889 )
Net increase (decrease) (5,172,344 ) $ (61,287,445 )
 
Advisor Class Shares:            
Year ended February 28, 2015            
Shares sold 3,676,919     $ 43,717,361  
Shares issued in reinvestment of distributions 209,416       2,500,915  
Shares redeemed (1,556,613 )     (18,560,198 )
Net increase (decrease) 2,329,722     $ 27,658,078  
Year ended February 28, 2014            
Shares sold 1,999,455     $ 23,639,531  
Shares issued in reinvestment of distributions 156,692       1,862,620  
Shares redeemed (3,246,445 )     (38,208,459 )
Net increase (decrease) (1,090,298 ) $ (12,706,308 )
aEffective March 1, 2013, all Class B shares were converted to Class A.            

 

3. Transactions with Affiliates

Franklin Resources, Inc. is the holding company for various subsidiaries that together are referred to as Franklin Templeton Investments. Certain officers and trustees of the Trust are also officers and/or directors of the following subsidiaries:

Subsidiary Affiliation
Franklin Advisers, Inc. (Advisers) Investment manager
Franklin Templeton Services, LLC (FT Services) Administrative manager
Franklin Templeton Distributors, Inc. (Distributors) Principal underwriter
Franklin Templeton Investor Services, LLC (Investor Services)        Transfer agent

 

160 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

a. Management Fees

The Funds, except Franklin Federal Limited-Term Tax-Free Income Fund, pay an investment management fee to Advisers based on the month-end net assets of each of the funds and, effective April 1, 2014, Franklin Federal Limited-Term Tax-Free Income Fund pays an investment management fee to Advisers based on the average daily net assets of the fund as follows:

Annualized Fee Rate   Net Assets
0.625 % Up to and including $100 million
0.500 % Over $100 million, up to and including $250 million
0.450 % Over $250 million, up to and including $7.5 billion
0.440 % Over $7.5 billion, up to and including $10 billion
0.430 % Over $10 billion, up to and including $12.5 billion
0.420 % Over $12.5 billion, up to and including $15 billion
0.400 % Over $15 billion, up to and including $17.5 billion
0.380 % Over $17.5 billion, up to and including $20 billion
0.360 % In excess of $20 billion

 

Prior to April 1, 2014, Franklin Federal Limited-Term Tax-Free Income Fund paid fees to Advisers based on the average daily net assets of the fund as follows:

Annualized Fee Rate   Net Assets
0.700 % Up to and including $100 million
0.650 % Over $100 million, up to and including $250 million
0.625 % Over $250 million, up to and including $500 million
0.600 % In excess of $500 million

 

b. Administrative Fees

Under an agreement with Advisers, FT Services provides administrative services to the Funds. The fee is paid by Advisers based on each of the Funds’ average daily net assets, and is not an additional expense of the Funds.

c. Distribution Fees

The Board has adopted distribution plans for each share class, with the exception of Advisor Class shares, pursuant to Rule 12b-1 under the 1940 Act. Distribution fees are not charged on shares held by affiliates. Under the Funds’ Class A reimbursement distribution plans, the Funds reimburse Distributors for costs incurred in connection with the servicing, sale and distribution of each fund’s shares up to the maximum annual plan rate. Under the Class A reimbursement distribution plans, costs exceeding the maximum for the current plan year cannot be reimbursed in subsequent periods. In addition, under the funds’ Class C compensation distribution plans, the Funds pay Distributors for costs incurred in connection with the servicing, sale and distribution of each fund’s shares up to the maximum annual plan rate. The plan year, for purposes of monitoring compliance with the maximum annual plan rates, is February 1 through January 31 for each fund.

franklintempleton.com

Annual Report

| 161


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

3. Transactions with Affiliates (continued)

c. Distribution Fees (continued)

The maximum annual plan rates, based on the average daily net assets, for each class, are as follows:

      Franklin   Franklin      
  Franklin   Federal   Federal   Franklin  
  Double   Intermediate-   Limited-Term   High Yield  
  Tax-Free   Term Tax-Free   Tax-Free   Tax-Free  
  Income Fund   Income Fund   Income Fund   Income Fund  
Reimbursement Plans:                
Class A 0.10 % 0.10 % 0.15 % 0.10 %
Compensation Plans:                
Class C 0.65 % 0.65 %   0.65 %
 
      Franklin   Franklin   Franklin  
      Insured   Massachusetts   New Jersey  
      Tax-Free   Tax-Free   Tax-Free  
      Income Fund   Income Fund   Income Fund  
Reimbursement Plans:                
Class A     0.10 % 0.10 % 0.10 %
Compensation Plans:                
Class C     0.65 % 0.65 % 0.65 %

 

d. Sales Charges/Underwriting Agreements

Front-end sales charges and contingent deferred sales charges (CDSC) do not represent expenses of the Funds. These charges are deducted from the proceeds of sales of fund shares prior to investment or from redemption proceeds prior to remittance, as applicable. Distributors has advised the Funds of the following commission transactions related to the sales and redemptions of the Funds’ shares for the year:

        Franklin   Franklin    
    Franklin   Federal   Federal   Franklin
    Double   Intermediate-   Limited-Term   High Yield
    Tax-Free   Term Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund   Income Fund
 
Sales charges retained net of commissions                
paid to unaffiliated broker/dealers $ $ 367,655 $ 134,993 $ 1,243,121
CDSC retained $ 4 $ 67,233 $ 30,313 $ 111,224
 
        Franklin   Franklin   Franklin
        Insured   Massachusetts   New Jersey
        Tax-Free   Tax-Free   Tax-Free
        Income Fund   Income Fund   Income Fund
 
Sales charges retained net of commissions                
paid to unaffiliated broker/dealers     $ 454 $ 38,588 $ 114,823
CDSC retained     $ 4,019 $ 629 $ 9,978

 

162 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

e. Transfer Agent Fees

Each class of shares pays transfer agent fees to Investor Services for its performance of shareholder servicing obligations and reimburses Investor Services for out of pocket expenses incurred, including shareholding servicing fees paid to third parties. These fees are allocated daily based upon their relative proportion of such classes’ aggregate net assets.

For the year ended February 28, 2015, the Funds paid transfer agent fees as noted in the Statements of Operations of which the following amounts were retained by Investor Services:

      Franklin Franklin    
    Franklin Federal Federal   Franklin
    Double Intermediate- Limited-Term   High Yield
    Tax-Free Term Tax-Free Tax-Free   Tax-Free
    Income Fund Income Fund Income Fund   Income Fund
Transfer agent fees $ 82,054 $997,559 $130,372 $ 1,603,565
 
      Franklin Franklin   Franklin
      Insured Massachusetts   New Jersey
      Tax-Free Tax-Free   Tax-Free
      Income Fund Income Fund   Income Fund
 
Transfer agent fees     $370,131 $ 82,889 $ 225,670

 

f. Waiver and Expense Reimbursements

Effective July 1, 2014, Advisers has contractually agreed in advance to waive or limit its fees and to assume as its own expense certain expenses otherwise payable by Franklin Federal Limited-Term Tax-Free Income Fund so that the expenses (excluding distribution fees, and acquired fund fees and expenses) for each class of the fund do not exceed 0.48%, (other than certain non-routine expenses or costs, including those relating to litigation, indemnification, reorganizations, and liquidations) until June 30, 2015. Prior to July 1, 2014, expenses were limited to 0.45%.

4. Income Taxes

For tax purposes, capital losses may be carried over to offset future capital gains. Capital loss carryforwards with no expiration, if any, must be fully utilized before those losses with expiration dates.

At February 28, 2015, the capital loss carryforwards were as follows:            
 
        Franklin   Franklin    
    Franklin   Federal   Federal   Franklin
    Double   Intermediate-   Limited-Term   High Yield
    Tax-Free   Term Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund   Income Fund
Capital loss carryforwards subject to expiration:                
2016 $ 503,897 $ 1,114,337 $ 17,957 $ 62,972,830
2017   944,001   6,237,620     15,478,643
2018   2,690,894   223,211   567   53,451,410
2019   853,373   1,793,931     583,369
Capital loss carryforwards not subject to expiration:                
Short term   4,879,485   32,449,779     136,038,722
Long term   70,128,907   18,423,975   1,276,051   294,759,263
Total capital loss carryforwards $ 80,000,557 $ 60,242,853 $ 1,294,575 $ 563,284,237

 

franklintempleton.com

Annual Report

| 163


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

4. Income Taxes (continued)            
    Franklin   Franklin   Franklin
    Insured   Massachusetts   New Jersey
    Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund
Capital loss carryforwards subject to expiration:            
2017 $ 36,012 $ $
2018   5,518,185    
Capital loss carryforwards not subject to expiration:            
Short term   35,870,393   7,794,180   10,670,116
Long term   20,208,614   11,393,912   39,635,223
Total capital loss carryforwards $ 61,633,204 $ 19,188,092 $ 50,305,339

 

On February 28, 2015, the following funds had expired capital loss carryforwards, which were reclassified to paid-in capital.

    Franklin Franklin
  Franklin Federal Federal
  Double Intermediate- Limited-Term
  Tax-Free Term Tax-Free Tax-Free
  Income Fund Income Fund Income Fund
 
$ 134,018 $361,303 $321,499

 

The tax character of distributions paid during the years ended February 28, 2015 and 2014, was as follows:

            Franklin Federal   Franklin Federal
    Franklin Double   Intermediate-Term   Limited-Term
    Tax-Free Income Fund   Tax-Free Income Fund   Tax-Free Income Fund
    2015   2014   2015   2014   2015   2014
Distributions paid from                        
tax exempt income $ 14,517,680 $ 24,363,095 $ 111,287,685 $ 102,617,843 $ 11,558,511 $ 12,869,835
 
    Franklin High Yield   Franklin Insured   Franklin Massachusetts
    Tax-Free Income Fund   Tax-Free Income Fund   Tax-Free Income Fund
    2015   2014   2015   2014   2015   2014
Distributions paid from                        
tax exempt income $ 361,350,043 $ 387,804,603 $ 86,389,270 $ 97,105,192 $ 17,694,926 $ 18,519,777
 
    Franklin New Jersey                
    Tax-Free Income Fund                
    2015   2014                
Distributions paid from                        
tax exempt income $ 48,755,402 $ 53,286,248                

 

164 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

At February 28, 2015, the cost of investments, net unrealized appreciation (depreciation), undistributed tax exempt and ordinary income for income tax purposes were as follows:

          Franklin     Franklin        
    Franklin     Federal     Federal     Franklin  
    Double     Intermediate-     Limited-Term     High Yield  
    Tax-Free     Term Tax-Free     Tax-Free     Tax-Free  
    Income Fund     Income Fund     Income Fund     Income Fund  
Cost of investments $ 220,854,494   $ 4,125,132,071   $ 1,106,414,247   $ 7,353,215,399  
 
Unrealized appreciation $ 13,002,758   $ 286,512,678   $ 16,016,431   $ 1,021,613,898  
Unrealized depreciation   (32,074,154 )   (5,430,816 )   (364,519 )   (229,756,954 )
Net unrealized appreciation (depreciation) $ (19,071,396 ) $ 281,081,862   $ 15,651,912   $ 791,856,944  
 
Undistributed tax exempt income $ 744,132   $ 1,929,083   $ 1,064,043   $ 16,651,173  
Undistributed ordinary income               4,230,057  
Distributable earnings $ 744,132   $ 1,929,083   $ 1,064,043   $ 20,881,230  
 
          Franklin     Franklin     Franklin  
          Insured     Massachusetts     New Jersey  
          Tax-Free     Tax-Free     Tax-Free  
          Income Fund     Income Fund     Income Fund  
Cost of investments       $ 1,884,674,837   $ 474,671,990   $ 1,132,380,569  
 
Unrealized appreciation       $ 181,555,520     35,121,315   $ 83,164,696  
Unrealized depreciation         (55,507 )   (673,746 )   (25,035,583 )
Net unrealized appreciation (depreciation)       $ 181,500,013   $ 34,447,569   $ 58,129,113  
 
Distributable earnings - undistributed tax exempt income       $ 4,761,427   $ 674,406   $ 3,086,060  

 

Differences between income and/or capital gains as determined on a book basis and a tax basis are primarily due to differing treatments of bond discounts and wash sales.

5. Investment Transactions

Purchases and sales of investments (excluding short term securities) for the year ended February 28, 2015, were as follows:

        Franklin   Franklin    
    Franklin   Federal   Federal   Franklin
    Double   Intermediate-   Limited-Term   High Yield
    Tax-Free   Term Tax-Free   Tax-Free   Tax-Free
    Income Fund   Income Fund   Income Fund   Income Fund
 
Purchases $ 1,051,712 $ 817,707,759 $ 344,505,918 $ 643,397,901
Sales $ 128,133,805 $ 162,503,938 $ 202,199,800 $ 657,089,144
 
        Franklin   Franklin   Franklin
        Insured   Massachusetts   New Jersey
        Tax-Free   Tax-Free   Tax-Free
        Income Fund   Income Fund   Income Fund
 
Purchases     $ $ 43,541,917 $ 58,949,679
Sales     $ 256,804,169 $ 32,047,056 $ 143,608,280

 

franklintempleton.com

Annual Report

| 165


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

6. Credit Risk and Defaulted Securities

At February 28, 2015, Franklin Double Tax-Free Income Fund and Franklin High Yield Tax-Free Income Fund had 38.40% and 18.10%, respectively, of their portfolio invested in high yield or other securities rated below investment grade. These securities may be more sensitive to economic conditions causing greater price volatility and are potentially subject to a greater risk of loss due to default than higher rated securities.

Franklin High Yield Tax-Free Income Fund held defaulted securities and/or other securities for which the income has been deemed uncollectible. At February 28, 2015, the aggregate value of these securities was $3,846,334 representing 0.05% of the Fund’s net assets. The Funds discontinue accruing income on securities for which income has been deemed uncollectible and provide an estimate for losses on interest receivable. The securities have been identified in the accompanying Statement of Investments.

7. Concentration of Risk

Franklin Double Tax-Free Income Fund, Franklin Massachusetts Tax-Free Income Fund and Franklin New Jersey Tax-Free Income Fund invest a large percentage of their total assets in obligations of issuers within their respective state and U.S. territories. Such concentration may subject the funds to risks associated with industrial or regional matters, and economic, political or legal developments occurring within those states and U.S. territories. In addition, investments in these securities are sensitive to interest rate changes and credit risk of the issuer and may subject the funds to increased market volatility. The market for these investments may be limited, which may make them difficult to buy or sell.

8. Credit Facility

The Funds, together with other U.S. registered and foreign investment funds (collectively, Borrowers), managed by Franklin Templeton Investments, are borrowers in a joint syndicated senior unsecured credit facility totaling $2 billion (Global Credit Facility) which matures on February 12, 2016. This Global Credit Facility provides a source of funds to the Borrowers for temporary and emergency purposes, including the ability to meet future unanticipated or unusually large redemption requests.

Under the terms of the Global Credit Facility, the Funds shall, in addition to interest charged on any borrowings made by the Funds and other costs incurred by the Funds, pay their share of fees and expenses incurred in connection with the implementation and maintenance of the Global Credit Facility, based upon their relative share of the aggregate net assets of all of the Borrowers, including an annual commitment fee of 0.07% based upon the unused portion of the Global Credit Facility. These fees are reflected in other expenses in the Statements of Operations. During the year ended February 28, 2015, the Funds did not use the Global Credit Facility.

9. Fair Value Measurements

The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds’ own market assumptions (unobservable inputs). These inputs are used in determining the value of the Funds’ financial instruments and are summarized in the following fair value hierarchy:

  • Level 1 – quoted prices in active markets for identical financial instruments
  • Level 2 – other significant observable inputs (including quoted prices for similar financial instruments, interest rates, prepayment speed, credit risk, etc.)
  • Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of financial instruments)

The input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level.

166 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

For movements between the levels within the fair value hierarchy, the Funds have adopted a policy of recognizing the transfers as of the date of the underlying event which caused the movement.

A summary of inputs used as of February 28, 2015, in valuing the Funds’ assets carried at fair value, is as follows:

    Level 1   Level 2   Level 3   Total
Franklin Double Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 201,783,098 $ $ 201,783,098
Franklin Federal Intermediate-Term Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 4,228,528,933 $ $ 4,228,528,933
Short Term Investments       177,685,000     177,685,000
Total Investments in Securities $ $ 4,406,213,933 $ $ 4,406,213,933
Franklin Federal Limited-Term Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 1,045,126,615 $ $ 1,045,126,615
Short Term Investments     76,939,544       76,939,544
Total Investments in Securities $ $ 1,122,066,159 $ $ 1,122,066,159
Franklin High Yield Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Common Stocks and Other Equity Interests $ $ $ 717,082 $ 717,082
Corporate Bonds     4,137,242     4,137,242
Municipal Bonds     7,998,272,569   28,815,450   8,027,088,019
Short Term Investments     113,130,000     113,130,000
Total Investments in Securities $ $ 8,115,539,811 $ 29,532,532 $ 8,145,072,343
Franklin Insured Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 2,066,174,850 $ $ 2,066,174,850
Franklin Massachusetts Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 509,119,559 $ $ 509,119,559
Franklin New Jersey Tax-Free Income Fund                
Assets:                
Investments in Securities:                
Municipal Bonds $ $ 1,190,509,682 $ $ 1,190,509,682

 

A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 financial instruments at the end of the year.

franklintempleton.com

Annual Report

| 167


 

FRANKLIN TAX-FREE TRUST
NOTES TO FINANCIAL STATEMENTS

10. Subsequent Events

The Funds have evaluated subsequent events through the issuance of the financial statements and determined that no events have occurred that require disclosure.

Abbreviations    
Selected Portfolio    
ACA American Capital Access Holdings Inc. ID Improvement District
AGMC Assured Guaranty Municipal Corp. IDA Industrial Development Authority/Agency
AMBAC American Municipal Bond Assurance Corp. IDAR Industrial Development Authority Revenue
BAM Build America Mutual Assurance Co. IDB Industrial Development Bond/Board
BAN Bond Anticipation Note IDBR Industrial Development Board Revenue
BHAC Berkshire Hathaway Assurance Corp. ISD Independent School District
CDA Community Development Authority/Agency MAC Municipal Assurance Corp.
CDD Community Development District MFH Multi-Family Housing
CDR Community Development Revenue MFHR Multi-Family Housing Revenue
CFD Community Facilities District MFMR Multi-Family Mortgage Revenue
CIFG CDC IXIS Financial Guaranty MFR Multi-Family Revenue
COP Certificate of Participation MTA Metropolitan Transit Authority
CSD Central School District NATL National Public Financial Guarantee Corp.
EDA Economic Development Authority PBA Public Building Authority
EDC Economic Development Corp. PCC Pollution Control Corp.
EDR Economic Development Revenue PCFA Pollution Control Financing Authority
ETM Escrow to Maturity PCR Pollution Control Revenue
FGIC Financial Guaranty Insurance Co. PFA Public Financing Authority
FICO Financing Corp. PFAR Public Financing Authority Revenue
FNMA Federal National Mortgage Association PIK Payment-In-Kind
FRN Floating Rate Note PSF Permanent School Fund
GARB General Airport Revenue Bonds PUD Public Utility District
GO General Obligation RDA Redevelopment Agency/Authority
HDA Housing Development Authority/Agency SF Single Family
HDC Housing Development Corp. SFHR Single Family Housing Revenue
HFA Housing Finance Authority/Agency SFMR Single Family Mortgage Revenue
HFAR Housing Finance Authority Revenue UHSD Unified/Union High School District
    USD Unified/Union School District
    XLCA XL Capital Assurance

 

168 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of Franklin Tax-Free Trust

In our opinion, the accompanying statements of assets and liabilities, including the statements of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Franklin Double Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income Fund, Franklin Federal Limited-Term Tax-Free Income Fund, Franklin High Yield Tax-Free Income Fund, Franklin Insured Tax-Free Income Fund, Franklin Massachusetts Tax-Free Income Fund and Franklin New Jersey Tax-Free Income Fund (separate portfolios of Franklin Tax-Free Trust, hereafter referred to as the “Funds”) at February 28, 2015, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods presented, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at February 28, 2015 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

San Francisco, California
April 16, 2015

franklintempleton.com

Annual Report

| 169


 

FRANKLIN TAX-FREE TRUST

Tax Information (unaudited)

Under Section 852(b)(5)(A) of the Internal Revenue Code, the Funds hereby report 100% of the distributions paid from net investment income as exempt-interest dividends for the fiscal year ended February 28, 2015. A portion of the Funds’ exempt-interest dividends may be subject to the federal alternative minimum tax. By mid-February 2016, shareholders will be notified of amounts for use in preparing their 2015 income tax returns.

170 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

Board Members and Officers    
 
The name, year of birth and address of the officers and board members, as well as their affiliations, positions held with the Fund,
principal occupations during at least the past five years and number of portfolios overseen in the Franklin Templeton Investments
fund complex are shown below. Generally, each board member serves until that person’s successor is elected and qualified.
 
 
Independent Board Members      
 
      Number of Portfolios in  
Name, Year of Birth   Length of Fund Complex Overseen Other Directorships Held
and Address Position Time Served by Board Member* During at Least the Past 5 Years
 
Harris J. Ashton (1932) Trustee Since 1984 138 Bar-S Foods (meat packing company)
One Franklin Parkway       (1981-2010).
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Director of various companies; and formerly, Director, RBC Holdings, Inc. (bank holding company) (until 2002); and President, Chief Executive
Officer and Chairman of the Board, General Host Corporation (nursery and craft centers) (until 1998).  
 
Mary C. Choksi (1950) Trustee Since 112 Avis Budget Group Inc. (car rental)
One Franklin Parkway   October 2014   (2007-present), Omnicom Group Inc.
San Mateo, CA 94403-1906       (advertising and marketing communi-
        cations services) (2011-present) and
        H.J. Heinz Company (processed foods
        and allied products) (1998-2006).
Principal Occupation During at Least the Past 5 Years:    
Founding Partner and Senior Managing Director, Strategic Investment Group (investment management group) (1987-present); director of
various companies; and formerly, Founding Partner and Managing Director, Emerging Markets Management LLC (investment management
firm) (1987-2011); and Loan Officer/Senior Loan Officer/Senior Pension Investment Officer, World Bank Group (international financial institution)
(1977-1987).        
 
Sam Ginn (1937) Trustee Since 2007 112 ICO Global Communications
One Franklin Parkway       (Holdings) Limited (satellite company)
San Mateo, CA 94403-1906       (2006-2010), Chevron Corporation
        (global energy company) (1989-2009),
        Hewlett-Packard Company (technology
        company) (1996-2002), Safeway, Inc.
        (grocery retailer) (1991-1998) and
        TransAmerica Corporation (insurance
        company) (1989-1999).
 
Principal Occupation During at Least the Past 5 Years:    
Private investor; and formerly, Chairman, First Responder Network Authority (FirstNet) (interoperable wireless broadband network)
(2012-2014); Chairman of the Board, Vodafone AirTouch, PLC (wireless company) (1999-2000); Chairman of the Board and Chief Executive
Officer, AirTouch Communications (cellular communications) (1993-1998) and Pacific Telesis Group (telephone holding company) (1988-1994).
 
Edith E. Holiday (1952) Trustee Since 1998 138 Hess Corporation (exploration and
One Franklin Parkway       refining of oil and gas) (1993-present),
San Mateo, CA 94403-1906       RTI International Metals, Inc. (manu-
        facture and distribution of titanium)
        (1999-present), Canadian National
        Railway (railroad) (2001-present),
        White Mountains Insurance Group, Ltd.
        (holding company) (2004-present) and
        H.J. Heinz Company (processed foods
        and allied products) (1994-2013).
 
Principal Occupation During at Least the Past 5 Years:    
Director or Trustee of various companies and trusts; and formerly, Assistant to the President of the United States and Secretary of the Cabinet
(1990-1993); General Counsel to the United States Treasury Department (1989-1990); and Counselor to the Secretary and Assistant
Secretary for Public Affairs and Public Liaison – United States Treasury Department (1988-1989).  

 

franklintempleton.com

Annual Report

| 171


 

FRANKLIN TAX-FREE TRUST      
 
 
 
 
Independent Board Members (continued)    
 
      Number of Portfolios in  
Name, Year of Birth   Length of Fund Complex Overseen Other Directorships Held
and Address Position Time Served by Board Member* During at Least the Past 5 Years
 
J. Michael Luttig (1954) Trustee Since 2009 138 Boeing Capital Corporation
One Franklin Parkway       (aircraft financing) (2006-2013).
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Executive Vice President, General Counsel and member of the Executive Council, The Boeing Company (aerospace company); and formerly,
Federal Appeals Court Judge, U.S. Court of Appeals for the Fourth Circuit (1991-2006).  
 
Frank A. Olson (1932) Trustee Since 2005 138 Hess Corporation (exploration and
One Franklin Parkway       refining of oil and gas) (1998-2013).
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Director of various companies; and formerly, Chairman of the Board, The Hertz Corporation (car rental) (1980-2000) and Chief Executive
Officer (1977-1999)); and Chairman of the Board, President and Chief Executive Officer, UAL Corporation (airlines) (June-December 1987).
 
Larry D. Thompson (1945) Trustee Since 2007 138 Cbeyond, Inc. (business communi-
One Franklin Parkway       cations provider) (2010-2012),
San Mateo, CA 94403-1906       The Southern Company (energy
        company) (December 2014;
        previously 2010-2012) and Graham
        Holdings Company (education and
        media organization) (2011-present).
 
Principal Occupation During at Least the Past 5 Years:    
Director of various companies; John A. Sibley Professor of Corporate and Business Law, University of Georgia School of Law (January 2015;
previously 2011-2012); and formerly, Executive Vice President – Government Affairs, General Counsel and Corporate Secretary, PepsiCo,
Inc. (consumer products) (2012-2014); Senior Vice President – Government Affairs, General Counsel and Secretary, PepsiCo, Inc.
(2004-2011); Senior Fellow of The Brookings Institution (2003-2004); Visiting Professor, University of Georgia School of Law (2004); and
Deputy Attorney General, U.S. Department of Justice (2001-2003).    
 
John B. Wilson (1959) Lead Trustee since 112 None
One Franklin Parkway Independent 2007 and Lead    
San Mateo, CA 94403-1906 Trustee Independent    
    Trustee since 2008    
Principal Occupation During at Least the Past 5 Years:    
President, Staples Europe (office supplies) (2012-present); President and Founder, Hyannis Port Capital, Inc. (real estate and private equity
investing); serves on private and non-profit boards; and formerly, Chief Operating Officer and Executive Vice President, Gap, Inc. (retail)
(1996-2000); Chief Financial Officer and Executive Vice President – Finance and Strategy, Staples, Inc. (1992-1996); Senior Vice President –
Corporate Planning, Northwest Airlines, Inc. (airlines) (1990-1992); and Vice President and Partner, Bain & Company (consulting firm)
(1986-1990).        

 

172 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

 

Interested Board Members and Officers    
 
      Number of Portfolios in  
Name, Year of Birth   Length of Fund Complex Overseen Other Directorships Held
and Address Position Time Served by Board Member* During at Least the Past 5 Years
 
**Gregory E. Johnson (1961) Trustee Since 2007 148 None
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Chairman of the Board, Member – Office of the Chairman, Director, President and Chief Executive Officer, Franklin Resources, Inc.; officer
and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 44 of the investment
companies in Franklin Templeton Investments; and Vice Chairman, Investment Company Institute.  
 
**Rupert H. Johnson, Jr. (1940) Chairman of Chairman of the 138 None
One Franklin Parkway the Board and Board and Trustee    
San Mateo, CA 94403-1906 Trustee since 2013    
 
Principal Occupation During at Least the Past 5 Years:    
Vice Chairman, Member – Office of the Chairman and Director, Franklin Resources, Inc.; Director, Franklin Advisers, Inc.; Senior Vice
President, Franklin Advisory Services, LLC; and officer and/or director or trustee, as the case may be, of some of the other subsidiaries
of Franklin Resources, Inc. and of 43 of the investment companies in Franklin Templeton Investments.  
 
Sheila Amoroso (1959) Vice President Since 1999 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Senior Vice President, Franklin Advisers, Inc.; and officer of seven of the investment companies in Franklin Templeton Investments.
 
Alison E. Baur (1964) Vice President Since 2012 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Deputy General Counsel, Franklin Templeton Investments; and officer of some of the other subsidiaries of Franklin Resources, Inc. and of
46 of the investment companies in Franklin Templeton Investments.    
 
Rafael R. Costas, Jr. (1965) Vice President Since 1999 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Senior Vice President, Franklin Advisers, Inc.; and officer of seven of the investment companies in Franklin Templeton Investments.
 
Laura F. Fergerson (1962) Chief Executive Since 2009 Not Applicable Not Applicable
One Franklin Parkway Officer –      
San Mateo, CA 94403-1906 Finance and      
  Administration      
 
Principal Occupation During at Least the Past 5 Years:    
Senior Vice President, Franklin Templeton Services, LLC; and officer of 46 of the investment companies in Franklin Templeton Investments.
 
Gaston Gardey (1967) Treasurer, Since 2009 Not Applicable Not Applicable
One Franklin Parkway Chief Financial      
San Mateo, CA 94403-1906 Officer and      
  Chief      
  Accounting      
  Officer      
 
Principal Occupation During at Least the Past 5 Years:    
Director, Fund Accounting, Franklin Templeton Investments; and officer of 27 of the investment companies in Franklin Templeton Investments.

franklintempleton.com

Annual Report

| 173


 

FRANKLIN TAX-FREE TRUST      
 
 
 
 
Interested Board Members and Officers (continued)  
 
      Number of Portfolios in  
Name, Year of Birth   Length of Fund Complex Overseen Other Directorships Held
and Address Position Time Served by Board Member* During at Least the Past 5 Years
 
Aliya S. Gordon (1973) Vice President Since 2009 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Senior Associate General Counsel, Franklin Templeton Investments; officer of 46 of the investment companies in Franklin Templeton
Investments; and formerly, Litigation Associate, Steefel, Levitt & Weiss, LLP (2000-2004).  
 
Steven J. Gray (1955) Vice President Since 2009 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
Principal Occupation During at Least the Past 5 Years:    
Senior Associate General Counsel, Franklin Templeton Investments; Vice President, Franklin Templeton Distributors, Inc.; and Franklin
Alternative Strategies Advisers, LLC; and officer of 46 of the investment companies in Franklin Templeton Investments.
 
Selena L. Holmes (1965) Vice President Since 2012 Not Applicable Not Applicable
100 Fountain Parkway – AML      
St. Petersburg, FL 33716-1205 Compliance      
 
Principal Occupation During at Least the Past 5 Years:    
Director, Global Compliance Monitoring; Chief Compliance Officer, Franklin Alternative Strategies Advisers, LLC; Vice President, Franklin
Templeton Companies, LLC; and officer of 46 of the investment companies in Franklin Templeton Investments.
 
Christopher J. Molumphy (1962) President and Since 2010 Not Applicable Not Applicable
One Franklin Parkway Chief Executive      
San Mateo, CA 94403-1906 Officer –      
  Investment      
  Management      
 
Principal Occupation During at Least the Past 5 Years:    
Director and Executive Vice President, Franklin Advisers, Inc.; Executive Vice President, Franklin Templeton Institutional, LLC; and officer of
some of the other subsidiaries of Franklin Resources, Inc. and of 22 of the investment companies in Franklin Templeton Investments.
 
Kimberly H. Novotny (1972) Vice President Since 2013 Not Applicable Not Applicable
300 S.E. 2nd Street        
Fort Lauderdale, FL 33301-1923        
 
Principal Occupation During at Least the Past 5 Years:    
Associate General Counsel, Franklin Templeton Investments; Vice President and Secretary, Fiduciary Trust International of the South; Vice
President, Templeton Investment Counsel, LLC; Assistant Secretary, Franklin Resources, Inc.; and officer of 46 of the investment companies
in Franklin Templeton Investments.      
 
Robert C. Rosselot (1960) Chief Since 2013 Not Applicable Not Applicable
300 S.E. 2nd Street Compliance      
Fort Lauderdale, FL 33301-1923 Officer      
 
Principal Occupation During at Least the Past 5 Years:    
Director, Global Compliance, Franklin Templeton Investments; Vice President, Franklin Templeton Companies, LLC; officer of 46 of the
investment companies in Franklin Templeton Investments; and formerly, Senior Associate General Counsel, Franklin Templeton Investments
(2007-2013); and Secretary and Vice President, Templeton Group of Funds (2004-2013).  

 

174 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

Interested Board Members and Officers (continued)  
 
      Number of Portfolios in  
Name, Year of Birth   Length of Fund Complex Overseen Other Directorships Held
and Address Position Time Served by Board Member* During at Least the Past 5 Years
 
Karen L. Skidmore (1952) Vice President Since 2006 Not Applicable Not Applicable
One Franklin Parkway and Secretary      
San Mateo, CA 94403-1906        
 
Principal Occupation During at Least the Past 5 Years:    
Senior Associate General Counsel, Franklin Templeton Investments; and officer of 46 of the investment companies in Franklin Templeton
Investments.        
 
Craig S. Tyle (1960) Vice President Since 2005 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
 
Principal Occupation During at Least the Past 5 Years:    
General Counsel and Executive Vice President, Franklin Resources, Inc.; and officer of some of the other subsidiaries of Franklin Resources,
Inc. and of 46 of the investment companies in Franklin Templeton Investments.  
 
Thomas Walsh (1961) Vice President Since 1999 Not Applicable Not Applicable
One Franklin Parkway        
San Mateo, CA 94403-1906        
 
Principal Occupation During at Least the Past 5 Years:    
Senior Vice President, Franklin Advisers, Inc.; and officer of seven of the investment companies in Franklin Templeton Investments.
 
Lori A. Weber (1964) Vice President Since 2011 Not Applicable Not Applicable
300 S.E. 2nd Street        
Fort Lauderdale, FL 33301-1923        
 
Principal Occupation During at Least the Past 5 Years:    
Senior Associate General Counsel, Franklin Templeton Investments; Assistant Secretary, Franklin Resources, Inc.; Vice President and
Secretary, Templeton Investment Counsel, LLC; Vice President, Fiduciary Trust International of the South; and officer of 46 of the investment
companies in Franklin Templeton Investments.      

 

*We base the number of portfolios on each separate series of the U.S. registered investment companies within the Franklin Templeton Investments fund complex.
These portfolios have a common investment manager or affiliated investment managers.
**Gregory E. Johnson is considered to be an interested person of the Fund under the federal securities laws due to his position as an officer and director of Franklin
Resources, Inc. (Resources), which is the parent company of the Fund’s investment manager and distributor. Rupert H. Johnson, Jr. is considered to be an interested
person of the Fund under the federal securities laws due to his position as officer and director and major shareholder of Resources.
Note 1: Rupert H. Johnson, Jr. is the uncle of Gregory E. Johnson.
Note 2: Officer information is current as of the date of this report. It is possible that after this date, information about officers may change.

The Sarbanes-Oxley Act of 2002 and Rules adopted by the Securities and Exchange Commission require the Fund to disclose whether the Fund’s Audit Committee includes at least one member who is an audit committee financial expert within the meaning of such Act and Rules. The Fund’s Board has determined that there is at least one such financial expert on the Audit Committee and has designated John B. Wilson as its audit committee financial expert. The Board believes that Mr. Wilson qualifies as such an expert in view of his extensive business background and experience, including service as chief financial officer of Staples, Inc. from 1992 to 1996. Mr. Wilson has been a Member and Chairman of the Fund’s Audit Committee since 2007. As a result of such background and experience, the Board believes that Mr. Wilson has acquired an understanding of generally accepted accounting principles and financial statements, the general application of such principles in connection with the accounting estimates, accruals and reserves, and analyzing and evaluating financial statements that present a breadth and level of complexity of accounting issues generally comparable to those of the Fund, as well as an understanding of internal controls and procedures for financial reporting and an understanding of audit committee functions. Mr. Wilson is an independent Board member as that term is defined under the relevant Securities and Exchange Commission Rules and Releases.

The Statement of Additional Information (SAI) includes additional information about the board members and is available, without charge, upon request.

Shareholders may call (800) DIAL BEN/342-5236 to request the SAI.

franklintempleton.com

Annual Report

| 175


 

FRANKLIN TAX-FREE TRUST

Shareholder Information

Board Review of Investment Management Agreement

At a meeting held February 24, 2015, the Board of Trustees (Board), including a majority of non-interested or independent Trustees, approved renewal of the investment management agreement for each of the separate tax-exempt funds within Franklin Tax-Free Trust (Fund(s)). In reaching this decision, the Board took into account information furnished throughout the year at regular Board meetings, as well as information prepared specifically in connection with the annual renewal review process. Information furnished and discussed throughout the year included investment performance reports and related financial information for each Fund, along with periodic reports on expenses, shareholder services, legal and compliance matters, pricing, and other services provided by the Investment Manager (Manager) and its affiliates, as well as marketing support payments made to financial intermediaries. Information furnished specifically in connection with the renewal process included a report for each Fund prepared by Lipper, Inc. (Lipper), an independent organization, as well as additional material, including a Fund profitability analysis prepared by management. The Lipper reports compared each Fund’s investment performance and expenses with those of other mutual funds deemed comparable to the Fund as selected by Lipper. The Fund profitability analysis discussed the profitability to Franklin Templeton Investments (FTI) from its overall U.S. fund operations, as well as on an individual fund-by-fund basis. Additional material accompanying such profitability analysis included information on a fund-by-fund basis listing portfolio managers and other accounts they manage, as well as information on management fees charged by the Manager and its affiliates to U.S. mutual funds and other accounts, including management’s explanation of differences where relevant. Such material also included a memorandum prepared by management describing project initiatives and capital investments relating to the services provided to the Funds by the FTI organization, as well as a memorandum relating to economies of scale and an analysis concerning transfer agent fees charged by an affiliate of the Manager. The Board also received a report on all marketing support payments made by FTI to financial intermediaries during the past year.

In considering such materials, the independent Trustees received assistance and advice from and met separately with independent counsel. While the investment management agreements for all Funds were considered at the same Board meeting, the Board dealt with each Fund separately. In approving continuance of the investment management agreement for

each Fund, the Board, including a majority of independent Trustees, determined that the existing management fee structure was fair and reasonable and that continuance of the investment management agreement was in the best interests of each Fund and its shareholders. While attention was given to all information furnished, the following discusses some primary factors relevant to the Board’s decision.

NATURE, EXTENT AND QUALITY OF SERVICES. The Board was satisfied with the nature and quality of the overall services provided by the Manager and its affiliates to the Funds and their shareholders. In addition to investment performance and expenses discussed later, the Board’s opinion was based, in part, upon periodic reports furnished it showing that the investment policies and restrictions for each Fund were consistently complied with as well as other reports periodically furnished the Board covering matters such as the compliance of portfolio managers and other management personnel with the code of ethics adopted throughout the Franklin Templeton fund complex, the adherence to fair value pricing procedures established by the Board, and the accuracy of net asset value calculations. The Board also noted the extent of benefits provided Fund shareholders from being part of the Franklin Templeton family of funds, including the right to exchange investments between the same class of funds without a sales charge, the ability to reinvest Fund dividends into other funds and the right to combine holdings in other funds to obtain a reduced sales charge. Favorable consideration was given to management’s continual efforts and expenditures in establishing effective business continuity plans and developing strategies to address persistent cybersecurity threats. Additionally, the Board noted the Manager’s continued attention to pricing and valuation issues, particularly with respect to complex securities. Consideration was also given to the experience of each Fund’s portfolio management team, the number of accounts managed and general method of compensation. In this latter respect, the Board noted that a primary factor in management’s determination of a portfolio manager’s bonus compensation was the relative investment performance of the funds he or she managed and that a portion of such bonus was required to be invested in a predesignated list of funds within such person’s fund management area so as to be aligned with the interests of shareholders. The Board also took into account the quality of transfer agent and shareholder services provided Fund shareholders by an affiliate of the Manager and the continual enhancements to the Franklin Templeton website. Particular attention was given to management’s conservative approach and diligent risk management procedures, including continual monitoring of counterparty credit risk and attention given to derivatives and

176 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

SHAREHOLDER INFORMATION

other complex instruments. The Board also took into account, among other things, management’s efforts in establishing a global credit facility for the benefit of the Funds and other accounts managed by FTI to provide a source of cash for temporary and emergency purposes or to meet unusual redemption requests, as well as the strong financial position of the Manager’s parent company and its commitment to the mutual fund business as evidenced by its continued subsidization of money market funds.

INVESTMENT PERFORMANCE. The Board placed significant emphasis on the investment performance of each Fund in view of its importance to shareholders. While consideration was given to performance reports and discussions with portfolio managers at Board meetings throughout the year, particular attention in assessing performance was given to the Lipper reports furnished for the agreement renewals. The Lipper reports prepared for each individual Fund showed its investment performance or those of its Class A shares for Funds having multiple share classes, in comparison to a performance universe selected by Lipper. Comparative performance for each Fund was shown for the one-year period ended December 31, 2014, and for additional periods ended that date up to 10 years depending on when a particular Fund commenced operations. The Lipper reports showed the income return for each Fund to be above the median of its Lipper performance universe for 2014, as well as for the previous three-, five- and 10-year periods on an annualized basis, with most being in the highest or second-highest performing quintile during all such periods, with the exception of Franklin High Yield Tax-Free Income Fund, which performed below the median for the three-year period, but above the median for the five-and 10-year periods. The Lipper reports showed the total returns of a majority of the Funds to be above the medians of their respective Lipper performance universes in 2014, and on an annualized basis, with the exception of Franklin Double Tax-Free Income Fund, the total returns of all Funds were at or above the medians of their Lipper performance universes for the 10-year period. The Board was satisfied with the overall performance of these Funds, noting their income oriented objective. The Lipper report showed the income return of Franklin Double Tax-Free Income Fund to be in the highest performing quintile of its performance universe during 2014, and the previous annualized three-, five- and 10-year periods, but its total return to be in the second-highest performing quintile of such universe during 2014 and in the lowest performing quintile for such annualized periods. In discussing this, the Board noted that Franklin Double Tax-Free Income Fund is the only fund in its Lipper performance universe investing primarily in Puerto

Rico municipal securities and that its total return performance reflected Puerto Rico’s financial difficulties and the rating downgrades of Puerto Rico bonds that occurred beginning in 2013. While disappointed in such total return and intending to continually monitor developments in Puerto Rico, the Board did not believe the Fund’s performance warranted any change in portfolio management in view of such fact.

COMPARATIVE EXPENSES. Consideration was given to the management fee and total expense ratio of each Fund in comparison with those of a group of funds selected by Lipper as its appropriate Lipper expense group. Lipper expense data is based upon information taken from each fund’s most recent annual report, which reflects historical asset levels that may be quite different from those currently existing, particularly in a period of market volatility. While recognizing such inherent limitation and the fact that expense ratios generally increase as assets decline and decrease as assets grow, the Board believed the independent analysis conducted by Lipper to be an appropriate measure of comparative expenses. In reviewing comparative costs, Lipper provides information on each Fund’s contractual investment management fee in comparison with the contractual investment management fee that would have been charged by other funds within its Lipper expense group assuming they were similar in size to the Fund, as well as the actual total expenses of the Fund in comparison with those of its Lipper expense group. The Lipper contractual investment management fee analysis includes an administrative charge as being part of the investment management fee, and total expenses, for comparative consistency, are shown by Lipper for Fund Class A shares for Funds having multiple share classes. The Lipper reports showed that the contractual investment management fee rates for each Fund were at or below the medians of their respective Lipper expense groups, with the exception of Franklin Double Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income Fund, Franklin Insured Tax-Free Income Fund and Franklin Federal Limited-Term Tax-Free Income Fund. The contractual investment management fee rate of each such Fund, however, was within two basis points of its respective Lipper expense group median, except for Franklin Double Tax-Free Income Fund, Franklin Federal Intermediate-Term Tax-Free Income Fund and Franklin Federal Limited-Term Tax-Free Income Fund. The contractual investment management fee rate for Franklin Federal Limited-Term Tax-Free Income Fund was also above its Lipper expense group median, but the actual management fee rate paid was within two basis points of the median as a result of fee waivers. The Lipper reports further showed that the actual total expense ratios for all Funds were below the medians of their respective

franklintempleton.com

Annual Report

| 177


 

FRANKLIN TAX-FREE TRUST

SHAREHOLDER INFORMATION

Board Review of Investment Management

Agreement (continued)

Lipper expense groups, with each being in the least expensive quintile of such group except for Franklin Double Tax-Free Income Fund and Franklin Federal Intermediate-Term Tax-Free Income Fund. Based on the above, the Board was satisfied with the investment management fee and total expense ratios of each Fund in comparison to its Lipper expense group as shown in the Lipper reports.

MANAGEMENT PROFITABILITY. The Board also considered the level of profits realized by the Manager and its affiliates in connection with the operation of each Fund. In this respect, the Board reviewed the Fund profitability analysis that addresses the overall profitability of Franklin Templeton’s U.S. fund business, as well as its profits in providing management and other services to each of the individual funds during the 12-month period ended September 30, 2014, being the most recent fiscal year-end for Franklin Resources, Inc., the Manager’s parent. In reviewing the analysis, the Board recognized that allocation methodologies are inherently subjective and various allocation methodologies may be reasonable while producing different results. In this respect, the Board noted that while management continually makes refinements to its methodologies in response to organizational and product related changes, the overall approach as defined by the primary drivers and activity measurements has remained consistent with that used in the Funds’ profitability report presentations from prior years. Additionally, the Funds’ independent registered public accounting firm had been engaged by the Manager to periodically review the reasonableness of the allocation methodologies to be used solely by the Funds’ Board in reference to the profitability analysis. In reviewing and discussing such analysis, management discussed with the Board its belief that costs incurred in establishing the infrastructure necessary for the type of mutual fund operations conducted by the Manager and its affiliates may not be fully reflected in the expenses allocated to each Fund in determining its profitability, as well as the fact that the level of profits, to a certain extent, reflected operational cost savings and efficiencies initiated by management. The Board also took into account management’s expenditures in improving shareholder services provided the Funds, as well as the need to implement systems and meet additional regulatory and compliance requirements resulting from statutes such as the Sarbanes-Oxley and Dodd-Frank Acts and recent SEC and other regulatory requirements. In addition, the Board considered a third-party study comparing the profitability of the Manager’s parent on an overall basis to other

publicly held managers broken down to show profitability from management operations exclusive of distribution expenses, as well as profitability including distribution expenses. The Board also considered the extent to which the Manager and its affiliates might derive ancillary benefits from fund operations, including revenues generated from transfer agent services. Based upon its consideration of all these factors, the Board determined that the level of profits realized by the Manager and its affiliates from providing services to each Fund was not excessive in view of the nature, quality and extent of services provided.

ECONOMIES OF SCALE. The Board also considered whether economies of scale are realized by the Manager as the Funds grow larger and the extent to which this is reflected in the level of management fees charged. While recognizing any precise determination is inherently subjective, the Board noted that based upon the Fund profitability analysis, it appears that as some Funds get larger, at some point economies of scale do result in the Manager realizing a larger profit margin on management services provided such Fund. The Board also noted that any economies of scale are shared with each of these Funds and their shareholders through management fee breakpoints existing in each of the Funds’ investment management agreements, so that as a Fund grows in size, its effective management fee rate declines. The fee structure under the investment management agreement with each Fund provides an initial fee of 0.625% on the first $100 million of assets; 0.5% on the next $150 million of assets; 0.45% on assets in excess of $250 million; with additional breakpoints beginning at 0.44% on assets in excess of $7.5 billion; 0.43% on assets in excess of $10 billion and continuing thereafter until reaching a final breakpoint of 0.36% on assets in excess of $20 billion. In reviewing such structure, management stated its belief that this fee structure reaches a relatively low rate quickly as a Fund grows and that such low rate, in effect, reflects anticipated economies of scale as a Fund’s assets increase and pointed out the favorable contractual management fee and total expense comparisons for each Fund within its Lipper expense group as discussed under “Comparative Expenses.” The favorable expense comparison for each Fund within its Lipper expense group as previously discussed under “Comparative Expenses” was also noted. The Board observed that at December 31, 2014, none of these Funds had assets in excess of $8 billion, except for Franklin High Yield Tax-Free Income Fund, and believed that to the extent economies of scale may be realized by the Manager and its affiliates, the schedule of fees under the investment management agreement for each such Fund provides for a sharing of benefits with the Fund and its shareholders as the Fund grows.

178 | Annual Report

franklintempleton.com


 

FRANKLIN TAX-FREE TRUST

SHAREHOLDER INFORMATION

Proxy Voting Policies and Procedures

The Trust’s investment manager has established Proxy Voting Policies and Procedures (Policies) that the Trust uses to determine how to vote proxies relating to portfolio securities. Shareholders may view the Trust’s complete Policies online at franklintempleton.com. Alternatively, shareholders may request copies of the Policies free of charge by calling the Proxy Group collect at (954) 527-7678 or by sending a written request to: Franklin Templeton Companies, LLC, 300 S.E. 2nd Street, Fort Lauderdale, FL 33301, Attention: Proxy Group. Copies of the Trust’s proxy voting records are also made available online at franklintempleton.com and posted on the U.S. Securities and Exchange Commission’s website at sec.gov and reflect the most recent 12-month period ended June 30.

Quarterly Statement of Investments

The Trust files a complete statement of investments with the U.S. Securities and Exchange Commission for the first and third quarters for each fiscal year on Form N-Q. Shareholders may view the filed Form N-Q by visiting the Commission’s website at sec.gov. The filed form may also be viewed and copied at the Commission’s Public Reference Room in Washington, DC. Information regarding the operations of the Public Reference Room may be obtained by calling (800) SEC-0330.

Householding of Reports and Prospectuses

You will receive each Fund’s financial reports every six months as well as an annual updated summary prospectus (prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the financial reports and summary prospectus. This process, called “householding,” will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 632-2301. At any time you may view current prospectuses/summary prospectuses and financial reports on our website. If you choose, you may receive these documents through electronic delivery.

franklintempleton.com

Annual Report

| 179


 

This page intentionally left blank.


 



 

 

 

 

 

Item 2. Code of Ethics.

 

(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer. 

 

(c) N/A

 

(d) N/A

 

(f) Pursuant to Item 12(a)(1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

 

Item 3. Audit Committee Financial Expert.

 

(a)(1) The Registrant has an audit committee financial expert serving on its audit committee.

 

(2) The audit committee financial expert is John B. Wilson, and he is "independent" as defined under the relevant Securities and Exchange Commission Rules and Releases.

 

Item 4. Principal Accountant Fees and Services.

 

 

(a) Audit Fees

The aggregate fees paid to the principal accountant for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or for services that are normally provided by the principal accountant in connection with statutory and regulatory filings or engagements were $818,218 for the fiscal year ended February 28, 2015 and $866,532 for the fiscal year ended February 28, 2014.

 

(b) Audit-Related Fees

There were no fees paid to the principal accountant for assurance and related services rendered by the principal accountant to the registrant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under paragraph (a) of Item 4.

 

There were no fees paid to the principal accountant for assurance and related services rendered by the principal accountant to the registrant's investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant that are reasonably related to the performance of the audit of their financial statements. 

 

(c) Tax Fees

There were no fees paid to the principal accountant for professional services rendered by the principal accountant to the registrant for tax compliance, tax advice and tax planning.

 


 

 

The aggregate fees paid to the principal accountant for professional services rendered by the principal accountant to the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant for tax compliance, tax advice and tax planning were $0 for the fiscal year ended February 28, 2015 and $6,930 for the fiscal year ended February 28, 2014.  The services for which these fees were paid included technical tax consultation for capital gain tax and withholding tax reporting for foreign governments and requirements on local country’s self-certification forms.

 

(d) All Other Fees

The aggregate fees paid to the principal accountant for products and services rendered by the principal accountant to the registrant not reported in paragraphs (a)-(c) of Item 4 were $9,247 for the fiscal year ended February 28, 2015 and $0 for the fiscal year ended February 28, 2014.  The services for which these fees were paid included review of materials provided to the fund Board in connection with the investment management contract renewal process.

 

The aggregate fees paid to the principal accountant for products and services rendered by the principal accountant to the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant other than services reported in paragraphs (a)-(c) of Item 4 were $150,489 for the fiscal year ended February 28, 2015 and $39,194 for the fiscal year ended February 28, 2014. The services for which these fees were paid included preparation and review of materials provided to the fund Board in connection with the investment management contract renewal process.

 

 

(e) (1) The registrant’s audit committee is directly responsible for approving the services to be provided by the auditors, including:

 

      (i)   pre-approval of all audit and audit related services;

 

      (ii)  pre-approval of all non-audit related services to be provided to the Fund by the auditors;

 

      (iii) pre-approval of all non-audit related services to be provided to the registrant by the auditors to the registrant’s investment adviser or to any entity that controls, is controlled by or is under common control with the registrant’s investment adviser and that provides ongoing services to the registrant where the non-audit services relate directly to the operations or financial reporting of the registrant; and

 

      (iv)  establishment by the audit committee, if deemed necessary or appropriate, as an alternative to committee pre-approval of services to be provided by the auditors, as required by paragraphs (ii) and (iii) above, of policies and procedures to permit such services to be pre-approved by other means, such as through establishment of guidelines or by action of a designated member or members of the committee; provided the policies and procedures are detailed as to the particular service and the committee is informed of each service and such policies and procedures do not include delegation of audit committee responsibilities, as contemplated under the Securities Exchange Act of 1934, to management; subject, in the case of (ii) through (iv), to any waivers, exceptions or exemptions that may be available under applicable law or rules.

 

 

 

 

(e) (2) None of the services provided to the registrant described in paragraphs (b)-(d) of Item 4 were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of regulation S-X.

 

(f) No disclosures are required by this Item 4(f).

 

(g) The aggregate non-audit fees paid to the principal accountant for services rendered by the principal accountant to the registrant and the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant were $159,736 for the fiscal year ended February 28, 2015 and $46,124 for the fiscal year ended February 28, 2014.

 

(h) The registrant’s audit committee of the board has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

 

Item 5. Audit Committee of Listed Registrants.  N/A

 

 

Item 6. Schedule of Investments.                N/A

 

 

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.         N/A

 

 

Item 8. Portfolio Managers of Closed-End Management Investment Companies.                                         N/A

 

 

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.  N/A

 

 

Item 10. Submission of Matters to a Vote of Security Holders.

 

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

 

 

Item 11. Controls and Procedures.

 

 

 

(a) Evaluation of Disclosure Controls and Procedures.  The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant’s filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission.  Such information is accumulated and communicated to the Registrant’s management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.  The Registrant’s management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

 

Within 90 days prior to the filing date of this Shareholder Report on Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant’s management, including the Registrant’s principal executive officer and the Registrant’s principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures.  Based on such evaluation, the Registrant’s principal executive officer and principal financial officer concluded that the Registrant’s disclosure controls and procedures are effective.

 

(b) Changes in Internal Controls.  There have been no changes in the Registrant’s internal controls or in other factors that could materially affect the internal controls over financial reporting subsequent to the date of their evaluation in connection with the preparation of this Shareholder Report on Form N-CSR.

 

 

Item 12. Exhibits.

 

(a)(1) Code of Ethics

 

(a)(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of Laura F. Fergerson, Chief Executive Officer - Finance and Administration, and Gaston Gardey, Chief Financial Officer and Chief Accounting Officer

 

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Laura F. Fergerson, Chief Executive Officer - Finance and Administration, and Gaston Gardey, Chief Financial Officer and Chief Accounting Officer

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

FRANKLIN TAX-FREE TRUST

 


 

 

 

 

By /s/ Laura F. Fergerson

      Laura F. Fergerson

      Chief Executive Officer –

  Finance and Administration

Date April 24, 2015

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

 

By  /s/ Laura F. Fergerson

      Laura F. Fergerson

      Chief Executive Officer –

  Finance and Administration

Date April 24, 2015

 

 

 

By  /s/ Gaston Gardey

      Gaston Gardey

      Chief Financial Officer and

  Chief Accounting Officer

Date April 24, 2015

 

 
EX-99.CODE ETH 2 ncsr_code1209amd1213.txt Exhibit 12(a)(1) CODE OF ETHICS FOR PRINCIPAL EXECUTIVES & SENIOR FINANCIAL OFFICERS ------------------------------------------------------------------------------ PROCEDURES Revised December 18, 2009 ------------------------------------------------------------------------------- FRANKLIN TEMPLETON FUNDS CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS I. Covered Officers and Purpose of the Code This code of ethics (the "Code") applies to the Principal Executive Officers, Principal Financial Officer and Principal Accounting Officer (the "Covered Officers," each of whom is set forth in Exhibit A) of each investment company advised by a Franklin Resources subsidiary and that is registered with the United States Securities & Exchange Commission ("SEC") (collectively, "FT Funds") for the purpose of promoting: o Honest and ethical conduct, including the ethical resolution of actual or apparent conflicts of interest between personal and professional relationships; o Full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the SEC and in other public communications made by or on behalf of the FT Funds; o Compliance with applicable laws and governmental rules and regulations; o The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and o Accountability for adherence to the Code. Each Covered Officer will be expected to adhere to a high standard of business ethics and must be sensitive to situations that may give rise to actual as well as apparent conflicts of interest. II. Other Policies and Procedures This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Franklin Resources, Inc. has separately adopted the CODE OF ETHICS AND BUSINESS CONDUCT ("Business Conduct"), which is applicable to all officers, directors and employees of Franklin Resources, Inc., including Covered Officers. It summarizes the values, principles and business practices that guide the employee's business conduct and also provides a set of basic principles to guide officers, directors and employees regarding the minimum ethical requirements expected of them. It supplements the values, principles and business conduct identified in the Code and other existing employee policies. Additionally, the Franklin Templeton Funds have separately adopted the CODE OF ETHICS AND POLICY STATEMENT ON INSIDER TRADING governing personal securities trading and other related matters. The Code for Insider Trading provides for separate requirements that apply to the Covered Officers and others, and therefore is not part of this Code. Insofar as other policies or procedures of Franklin Resources, Inc., the Funds, the Funds' adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superceded by this Code to the extent that they overlap or conflict with the provisions of this Code. Please review these other documents or consult with the Legal Department if have questions regarding the applicability of these policies to you. III. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest OVERVIEW. A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the FT Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of apposition with the FT Funds. Certain conflicts of interest arise out of the relationships between Covered Officers and the FT Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 ("Investment Company Act") and the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the FT Funds because of their status as "affiliated persons" of the FT Funds. The FT Funds' and the investment advisers' compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code. Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the FT Funds, the investment advisers and the fund administrator of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the FT Funds, for the adviser, the administrator, or for all three), be involved in establishing policies and implementing decisions that will have different effects on the adviser, administrator and the FT Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the FT Funds, the adviser, and the administrator and is consistent with the performance by the Covered Officers of their duties as officers of the FT Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the FT Funds' Boards of Directors ("Boards") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes. Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the FT Funds. Each Covered Officer must: o Not use his or her personal influence or personal relationships improperly to influence investment decisions orfinancial reporting by the FT Funds whereby the Covered Officer would benefit personally to the detriment of the FT Funds; o Not cause the FT Funds to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit the FT Funds; o Not retaliate against any other Covered Officer or any employee of the FT Funds or their affiliated persons for reports of potential violations that are made in good faith; o Report at least annually the following affiliations or other relationships:/1 o all directorships for public companies and all companies that are required to file reports with the SEC; o any direct or indirect business relationship with any independent directors of the FT Funds; o any direct or indirect business relationship with any independent public accounting firm (which are not related to the routine issues related to the firm's service as the Covered Persons accountant); and o any direct or indirect interest in any transaction with any FT Fund that will benefit the officer (not including benefits derived from the advisory, sub-advisory, distribution or service agreements with affiliates of Franklin Resources). These reports will be reviewed by the Legal Department for compliance with the Code. There are some conflict of interest situations that should always be approved in writing by Franklin Resources General Counsel or Deputy General Counsel, if material. Examples of these include/2: o Service as a director on the board of any public or private Company; o The receipt of any gifts in excess of $100 from any person, from any corporation or association o The receipt of any entertainment from any Company with which the FT Funds has current or prospective business dealings unless such entertainment is business related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety. Notwithstanding the foregoing, the Covered Officers must obtain prior approval from the Franklin Resources General Counsel for any entertainment with a value in excess of $1000. o Any ownership interest in, or any consulting or employment relationship with, any of the FT Fund's service providers, other than an investment adviser, principal underwriter, administrator or any affiliated person thereof; o A direct or indirect financial interest in commissions, transaction charges or spreads paid by the FT Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership. Franklin Resources General Counsel or Deputy General Counsel will provide a report to the FT Funds Audit Committee of any approvals granted at the next regularly scheduled meeting. IV. Disclosure and Compliance o Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the FT Funds; o Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the FT Funds to others, whether within or outside the FT Funds, including to the FT Funds' directors and auditors, and to governmental regulators and self-regulatory organizations; o Each Covered Officer should, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the FT Funds, the FT Fund's adviser and the administrator with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the FT Funds file with, or submit to, the SEC and in other public communications made by the FT Funds; and o It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations. V. Reporting and Accountability Each Covered Officer must: o Upon becoming a covered officer affirm in writing to the Board that he or she has received, read, and understands the Code (see Exhibit B); o Annually thereafter affirm to the Board that he has complied with the requirements of the Code; and o Notify Franklin Resources' General Counsel or Deputy General Counsel promptly if he or she knows of any violation of this Code. Failure to do so is itself is a violation of this Code. Franklin Resources' General Counsel and Deputy General Counsel are responsible for applying this Code to specific situations in which questions are presented under it and have the authority to interpret this Code in any particular situation./3 However, the Independent Directors of the respective FT Funds will consider any approvals or waivers/4 sought by any Chief Executive Officers of the Funds. The FT Funds will follow these procedures in investigating and enforcing this Code: o Franklin Resources General Counsel or Deputy General Counsel will take all appropriate action to investigate any potential violations reported to the Legal Department; o If, after such investigation, the General Counsel or Deputy General Counsel believes that no violation has occurred, The General Counsel is not required to take any further action; o Any matter that the General Counsel or Deputy General Counsel believes is a violation will be reported to the Independent Directors of the appropriate FT Fund; o If the Independent Directors concur that a violation has occurred, it will inform and make a recommendation to the Board of the appropriate FT Fund or Funds, which will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer; o The Independent Directors will be responsible for granting waivers, as appropriate; and o Any changes to or waivers of this Code will, to the extent required, are disclosed as provided by SEC rules./5 VI. Other Policies and Procedures This Code shall be the sole code of ethics adopted by the FT Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the FT Funds, the FT Funds' advisers, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The FT Code of Ethics and Policy Statement On Insider Trading, adopted by the FT Funds, FT investment advisers and FT Fund's principal underwriter pursuant to Rule 17j-1 under the Investment Company Act, the Code of Ethics and Business Conduct and more detailed policies and procedures set forth in FT's Employee Handbook are separate requirements applying to the Covered Officers and others, and are not part of this Code. VII. Amendments Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the FT Funds' Board including a majority of independent directors. VIII. Confidentiality All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the FT Funds' Board and their counsel. IX. Internal Use The Code is intended solely for the internal use by the FT Funds and does not constitute an admission, by or on behalf of any FT Funds, as to any fact, circumstance, or legal conclusion. X. Disclosure on Form N-CSR Item 2 of Form N-CSR requires a registered management investment company to disclose annually whether, as of the end of the period covered by the report, it has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these officers are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, it must explain why it has not done so. The registrant must also: (1) file with the SEC a copy of the code as an exhibit to its annual report; (2) post the text of the code on its Internet website and disclose, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted the code on its Internet website; or (3) undertake in its most recent report on Form N-CSR to provide to any person without charge, upon request, a copy of the code and explain the manner in which such request may be made. Disclosure is also required of amendments to, or waivers (including implicit waivers) from, a provision of the code in the registrant's annual report on Form N-CSR or on its website. If the registrant intends to satisfy the requirement to disclose amendments and waivers by posting such information on its website, it will be required to disclose its Internet address and this intention. The Legal Department shall be responsible for ensuring that: o a copy of the Code is filed with the SEC as an exhibit to each Fund's annual report; and o any amendments to, or waivers (including implicit waivers) from, a provision of the Code is disclosed in the registrant's annual report on Form N-CSR. In the event that the foregoing disclosure is omitted or is determined to be incorrect, the Legal Department shall promptly file such information with the SEC as an amendment to Form N-CSR. In such an event, the Fund Chief Compliance Officer shall review the Code and propose such changes to the Code as are necessary or appropriate to prevent reoccurrences. EXHIBIT A Persons Covered by the Franklin Templeton Funds Code of Ethics December 2013 FRANKLIN GROUP OF FUNDS Edward B. Jamieson President and Chief Executive Officer - Investment Management Rupert H. Johnson, Jr. President and Chief Executive Officer - Investment Management William J. Lippman President and Chief Executive Officer - Investment Management Christopher Molumphy President and Chief Executive Officer - Investment Management Laura Fergerson Chief Executive Officer - Finance and Administration Gaston R. Gardey Chief Financial Officer and Chief Accounting Officer FRANKLIN MUTUAL SERIES FUNDS Peter Langerman Chief Executive Officer-Investment Management Laura Fergerson Chief Executive Officer - Finance and Administration Robert G. Kubilis Chief Financial Officer and Chief Accounting Officer FRANKLIN ALTERNATIVE STRTEGIES FUNDS William Yun Chief Executive Officer-Investment Management Laura Fergerson Chief Executive Officer - Finance and Administration Robert G. Kubilis Chief Financial Officer and Chief Accounting Officer TEMPLETON GROUP OF FUNDS Mark Mobius President and Chief Executive Officer - Investment Management Christopher J. Molumphy President and Chief Executive Officer - Investment Management Norman Boersma President and Chief Executive Officer - Investment Management Donald F. Reed President and Chief Executive Officer - Investment Management Laura Fergerson Chief Executive Officer - Finance and Administration Mark H. Otani Chief Financial Officer and Chief Accounting Officer EXHIBIT B ACKNOWLEDGMENT FORM DECEMBER FRANKLIN TEMPLETON FUNDS CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS INSTRUCTIONS: 1. Complete all sections of this form. 2. Print the completed form, sign, and date. 3. Submit completed form to FT's General Counsel c/o Code of Ethics Administration within 10 days of becoming a Covered Officer and by February 15th of each subsequent year. INTER-OFFICE MAIL: Code of Ethics Administration, Global Compliance SM-920/2 Fax: (650) 312-5646 E-MAIL: Preclear-Code of Ethics (internal address); lpreclear@frk.com (external address) ------------------------------------------------------------------------------ COVERED OFFICER'S NAME: ------------------------------------------------------------------------------ TITLE: ------------------------------------------------------------------------------ DEPARTMENT: ------------------------------------------------------------------------------ LOCATION: ------------------------------------------------------------------------------ CERTIFICATION FOR YEAR ENDING: ------------------------------------------------------------------------------ TO: Franklin Resources General Counsel, Legal Department I acknowledge receiving, reading and understanding the Franklin Templeton Fund's Code of Ethics for Principal Executive Officers and Senior Financial Officers (the "Code"). I will comply fully with all provisions of the Code to the extent they apply to me during the period of my employment. I further understand and acknowledge that any violation of the Code may subject me to disciplinary action, including termination of employment. ---------------------------- ---------------------- Signature Date signed ----------------------------- 1. Reporting of these affiliations or other relationships shall be made by completing the annual Directors and Officers Questionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy General Counsel. 2. Any activity or relationship that would present a conflict for a Covered Officer may also present a conflict for the Covered Officer if a member of the Covered Officer's immediate family engages in such an activity or has such a relationship. The Cover Person should also obtain written approval by FT's General Counsel in such situations. 3. Franklin Resources General Counsel and Deputy General Counsel are authorized to consult, as appropriate, with members of the Audit Committee, counsel to the FT Funds and counsel to the Independent Directors, and are encouraged to do so. 4. Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer" of the registrant. See Part X. 5. See Part X. EX-99.CERT 3 ftft302certs0215ncsr.htm 302 CERTS ftft302certs0215ncsr.htm - Generated by SEC Publisher for SEC Filing  

 

                                                                                                                                                                                                                                                                                                                            Exhibit 12(a)(2)

 

I, Laura F. Fergerson, certify that:

 

1. I have reviewed this report on Form N-CSR of Franklin Tax-Free Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;   

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and 

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

4/24/2015

 

 

 

S\LAURA F. FERGERSON

 

Laura F. Fergerson

Chief Executive Officer - Finance and Administration

 

 


 
 

 

                                                                                                                                                                                                                                                                                                                            Exhibit 12(a)(2)

 

I, Gaston Gardey, certify that:

 

1. I have reviewed this report on Form N-CSR of Franklin Tax-Free Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;   

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

 

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and 

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

4/24/2015

 

 

 

S\GASTON GARDEY

 

Gaston Gardey

Chief Financial Officer and Chief Accounting Officer

 

EX-99.906 CERT 4 ftft906certs0215ncsr.htm ftft906certs0215ncsr.htm - Generated by SEC Publisher for SEC Filing  

 

 

 

                                                                                                                                                                                                                                                           Exhibit 12(b)

 

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Laura F. Fergerson, Chief Executive Officer of the Franklin Tax-Free Trust (the “Registrant”), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

 

1.                  The periodic report on Form N-CSR of the Registrant for the period ended 2/28/2015 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.                  The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

 

Dated:  4/24/2015

 

                                                S\LAURA F. FERGERSON

 

                                                Laura F. Fergerson

Chief Executive Officer - Finance and Administration

                         

 


 
 

 

                                                                       

 

 

                    

                                                                                                                                                                                                                                            Exhibit 12(b)

 

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

 

I, Gaston Gardey, Chief Financial Officer of the Franklin Tax-Free Trust (the “Registrant”), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

 

1.                  The periodic report on Form N-CSR of the Registrant for the period ended 2/28/2015 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.                  The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

 

Dated:  4/24/2015

 

                                                S\GASTON GARDEY

 

                                                Gaston Gardey

Chief Financial Officer and Chief Accounting Officer

 

 

 

 

 

 

 

 

 

 

 

 

          

 

 

GRAPHIC 5 tf1_a0415x11x1.jpg begin 644 tf1_a0415x11x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M]@*H`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[?4+M;"PGNG4L(D+8'?VK*L[O766"YGBM)+:9-Y6/(:(8R.I MYK8N[:.\M9;:8$QRJ5;'H:Q[70[V-X5N-6DEM[=2L4:)LSQ@;B#SBEW&)9^) M!_8UK>7=O*\LRNQ6VB+!0I.3R>/SJ5_$]@'B2-9YC)&)/W4>=JGID=?RJE)X M3=K.SMA>JRVZNA$D.Y3N).X+G@C-,N?"#SP6\)O8BL48CW&W&X8/52#G\"35 M=1&J?$%G_:)LD2X=U8(SI&2JD]CW_2EU_4I=-LE:VC66ZFD6.%&Z,Q_^M6?= M>%FN-1CN3>*%1E8-Y0$HV]MP(SGU()J]JFAQ:M?02WDA>WA4@0#(RQ[[@:70 M"?1M1&I:5%=L`CD$2*.BL.HJO/K;164=V+0F%P7W&0+\N>,9ZL1R%I=,T1-, M6\AAE/V6X.4B(/[OC!Y)YJ(:;=SZ5!:O+'&$B,$B21!P<] MUE;1+IS;R2+;HI^0$DL03@\<```Y/K23:PRW8MH+;S96"[1OV@DJ6()QQ@8_ M.G+I.-+N[,S$M<;@9",D`C:/K@`4P:1*FR6*X07*2M('9"5((VX(R.P'?M0! M&GB&*6Y@ABC3=*BOB694(R2,`'J1CM6P[;4+8)P,X'4UCG0Y?LRVBW2_9BJ" M0-$-Y*G.0P/&3ZYQVJX^E6QD:9/,68G<&,KD!O7;NQCVH8%5M;>**X,]D\-N>23P.GZ MU-IFDM97#322JY(;"HFU4+-EL#)P.!^5*FFSP0A;:YC#B:27]Y#N4AR3CKD8 MSU!H`FM[_P`VXCA>-4,D/FH5<,&YP1GVR/SJ[639::UM=VJ@DQ6D#*'/&]G( MSQV`Q^HK6H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#G/ M%FKW-CY%M83QPW#AI&9]N`JCISZFIX_$D'EVW40N'=`@2959$`]`1523PM826'V)FF\D3&9`&&4)ZJ..E'095F\8Q0 MK$6M""T0ED5IE4JIZ8!^\<V8H(W\D@;E'0=./J*>VA6C1WT9>;;>A1)\W3`P,Q##@BL6S\23S>)?+>>,V$TK01(-NX,`,-ZX)K=LM M*6SM)H1..M$?B??<*IL)!`;K[*9O,'W\\<=:LIX>M$B6/ MS9R%N_M>2PSO].G2E7P_:+&$$DV!=_:_O#[_`*=.G^<%R">3GM]:IGP_9M9W5LS2E+F8SLVX;E<]U...E- M[Z"6QE7WB>]CN8+1-/:&Z\]%DC:16RIZ`'ISZ]JNWWB1;'4DM);7Y2ZH6\Y= MV6[A.I'O0_A:WD4O)=W3W1D63[26&\%>`.F,6M\]Q)O:*YDC0[0,*.@XKG-/U_5;@V8COI9[J67#6[6R MJA0$Y.[`[>E=?8:;#I\4\<+2,)Y6E;>0<%NN..E5!X;LUL+6U62=?LLADBE# M#>I)SUQC'X4+_(&4U\70RWC016^X%FCB;S5R[CIE>H![$T:7XAN'TVQFO;X$>\N(0P";CUZ#)'MFHU\,P+81VBW M5R!#-YT+[AF,^@XZ4(&1/XG8WQL[;3WGF\Z2(`2!<[,9//UHB\3EYT5K"18& MNOLIE\P'#_3K5FQ\.6EC>)=)-<22JSOF1@U.7P_:+&$$DV!=_:_O# M[_ITZ?YS0NEP?4UJ***`"BBB@`HHHH`**K:A-+;V,TT$?F2(N57!/Z#DUDP: MO?-IMI=%;617P'*,21999XT$7DFXCV9SM!(P? M?@?G5C,/E0?:0IE[[2FW=CZ]OU]J`\C?HK(L=6DN[M!Y:"WE++&>=P*@ M$Y[>OY5J,')^5E`]US_6@!]%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?] M\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\' M_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:, M2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\:,2_ MWT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+_?3_ M`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_?!_QHQ+_?3_O@ M_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_&C$O]]/\`O@_X MT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_`(T` M245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0!)14 M>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\:,2_WT_[X/\`C0!)14>) M?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+_?3_`+X/^-`$E%%%`!11 M10`4444`%%%%`%*_U:PTYE6\N5B9AD+@DX]>.U2Q7EO/,88I5=P@DP/[IZ'- M9%];WMKK%Q>6]D+U+FW$07>HV$=CG^$U3U#3-1=IG2SC(DMX8V2)L*,,2P4; MAG'H2`:`.KHKA9-%U?[';(;>9FB9]J&12HRV5SAAM^H)Q6C;Z=J2>)5NVAHKK7-, ML[CR+B[1),!L8)X/0YQBJ7B2WO;HQ0VECYL3@K/*K(K[/[@+'C/>LVZT[4I# M,(M,(2Y?;*P>,2+"H"A`2>^*$,Z-=5L6OA9KWR\`8SG?GC-7AH;0R:+)% M`IEMR!/)D9`VG^I/2@1K0ZM83WS645RK7*$AHP#D8ZT5DZ787UOK;.D$UO;% MI&FWSB1)23\I4=C^`HHZ(.INW4`N;=X2[IN'WD."/<5F6>@+:K;E;VX$D(.2 M`A#$]3@J<=,<=JV:*`,M=&6)76*>0A\)A\$+'NR4''?)YZ]/2F_V#"8\&YN/ M,Z&7*[BNW;MZ8QC\<\UK44`4+;2H+:[\Z-WVKDI$<;4)P"1QGG'KZU?HHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@"M+:>;(7^T3IG^%'P!3?L/_`$]77_?RJFJHPU32Y!-) MM,Y7RP?E^XQS]:9JK3M827WD-;7%EF2/KK_OY1]A_P"GJZ_[^5-;I(D"+-+YK@KK_OY5NB@"I]A_Z>KK_OY1]A_P"GJZ_[^5;H MH`J?8?\`IZNO^_E'V'_IZNO^_E6Z*`*GV'_IZNO^_E'V'_IZNO\`OY5NB@"I M]A_Z>KK_`+^4?8?^GJZ_[^5;HH`J?8?^GJZ_[^4?8?\`IZNO^_E6Z*`*GV'_ M`*>KK_OY1]A_Z>KK_OY5;4'U-=1M1:)$8"6WEF8?PG[V`<#T]ZS].GL&U>2: MWO(D2)9/-:2<%YCG))&>%7U/\J`-G[#_`-/5U_W\H^P_]/5U_P!_*RKJTCGU MF62VCP]M#YQ922R&0')#\]2,Y_"@ M#HTL]KJWVFX.#G!?@T5BZ)>&.]C@F5I))414D9OFV!25.WT."2<]6Q138'24 M444@"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@")YE1BI$F1Z1L1^8%)]H3^[+_WZ M;_"J5UK"P:HE@J1ERJL2\RH>21@`]3QVJQ?7HL3"TJ?N'?8\N>(R>A/MGC-` M$AGC)!*29'0^4W^%`GC&<)(,\G]TW/Z53M];M92!(PBWM^ZW9^96"6)!Q@'!P<8./:@"S]H3^[+_WZ;_"C[0G]V7_`+]-_A3H M)X[F%9HFW(W(.",_G4E`$/VA/[LO_?IO\*/M"?W9?^_3?X5-10!#]H3^[+_W MZ;_"C[0G]V7_`+]-_A4U%`$/VA/[LO\`WZ;_``H^T)_=E_[]-_A4U%`$/VA/ M[LO_`'Z;_"C[0G]V7_OTW^%344`0_:$_NR_]^F_PH^T)_=E_[]-_A4U%`$/V MA/[LO_?IO\*/M"?W9?\`OTW^%344`0_:$_NR_P#?IO\`"C[0G]V7_OTW^%34 M4`0_:$_NR_\`?IO\*/M"?W9?^_3?X5-10!#]H3^[+_WZ;_"C[0G]V7_OTW^% M-FO(()XH9)`KRDA1GT&:JVFK"ZN4C\ADBFW^3)N!W[3@Y';VH`N?:$_NR_\` M?IO\*3SHL$;),'J/);G]*I+K,;ZJ;)(U;:Y0GS5W9`R3LZD=LU&VNI]GN)5M MW'DS+"!*?+SD#DY'RCF@#166(N"$?=]T$Q,,#ZXHJ'3M0&H`O'$RQA%)9C_$ M1G;CV!'YT4`7:*AN[E+2V>>0,509PHR3["JEOK%O-#:.RR1/=-M2-U^;Z_3W M]Q0!HT53MM1BN!*XCE2*+.9'7"M@D''Y57_MVU\G?Y<^[/,>SY@,;MV/3'-` M&I15*#4[>>[-O'O)YVOCY6(QD`^HR*NT`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M15>[O;>S0-<2!`QP.,D_@*`+%%56U&R5`QNHL$9'S#/Y5%)K%A&R*;A6W=UY M`^OI0!?HIJLKJ&1@RD9!!R#3J`"BBJESJ5I:[A+.FY>J`Y/Y4`6Z*RUEU2\S M)"L=K%_")1EC[GTH_LEKAM^H7+SGLJ_(J_E0!;FU"S@)$ES$I'4;LD?A5.+4 MKJ>7S8+,R6>[:&SAC[@>E6X=.LX`!';1#'0EO0>U/FN[H7.GM%,DEM+$S<+@R-L)!]ATJYJ6FV^I1(EP&^1@ MRLC%2.>1D>M2-96S+$K1`K""J#L`1@C'TI=&,Q[:\U`:9=+(UPU_'&CE76-M MH;NH4<]#P<]*BBU"YN0+:*[F4+)*!.T85V54#`$$>K>G(%:7]AV801@2;,Y8 M&1B6&T@#)/09X],5(VD6;VRP,C[0Q;=YC;R3U);.3D<&FQ(SM+U&\GO(9+LS M)%<_ZE5\ORR=@)!XW?WCUKH*IPZ7:07/VB*,JXZ#<=JG&"0O0''>KE-@%%%% M(#-O]-FO)'7[0BV\NS>AB!<;3GY6SW]\X[4^?2X7T^ZM(BR"X4@LS,^"1UY- M6GC9F)$TBCT`7'ZBD\E_^?F7\E_PH`R;OP\MQ>><)5"LJ!PR$GY?[O..?<&H M7\,RRO(TM\&+*Z;C&Q8AB#SEL<8Z`"MSR7_Y^9?R7_"CR7_Y^9?R7_"@"4<" MEJ'R7_Y^9?R7_"CR7_Y^9?R7_"@":BH?)?\`Y^9?R7_"CR7_`.?F7\E_PH`F MHJ'R7_Y^9?R7_"CR7_Y^9?R7_"@":BH?)?\`Y^9?R7_"CR7_`.?F7\E_PH`F MHJ'R7_Y^9?R7_"CR7_Y^9?R7_"@":BH?)?\`Y^9?R7_"CR7_`.?F7\E_PH`F MHJ'R7_Y^9?R7_"CR7_Y^9?R7_"@":BH?)?\`Y^9?R7_"CR7_`.?F7\E_PH`F MHJ'R7_Y^9?R7_"CR7_Y^9?R7_"@"&ZTNSN[J*XG@C>2/.,H#NXQSD4OJ_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I* M*`(_*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T>4OJ__?9_QJ2B@"/R ME]7_`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4OJ_\`WV?\:DHH`C\I M?5_^^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[[/\`C1Y2^K_]]G_&I*0D`$DX`[T` M,\I?5_\`OL_XTC1QJI9F8*!DDR'C]:I-JZLY%K;37**<,\:\?AZU%*+C4O\` MCY0VEBGS.'.&?'KZ"@!ZZKIC'`NF_$N*:M]+/\UG8SS1]G>8H#],]:$UC0YA M]G%Y:%5'"LP"C'IGBJ=WXUT>VE,:/+/CJT297\R1^E`%R/3[V==]S?2Q%N3% M$?NCTS4\&D6D+[]KO)C&]W)-_USQ)J$ M9:ULIK.*!?,=E4@D#W/;VH`[-=*L4)*VR`GZT];"U165854/PP&1N^M<=%XS MU6\2./3].6:5(P9CM9\GN0!C`I1XXOYU5+72]\J#,V-S8QUP!T'UH`WU$FDN MZ212R66G>']:BURQ,RIY]`"T4@8$9!![<4FY= MH;<,'HHQQ74U$)XP``L@`Z`1-_A1]H3^[+_P!^F_PH`FHJ'[0G]V7_ M`+]-_A1]H3^[+_WZ;_"@":BH?M"?W9?^_3?X4?:$_NR_]^F_PH`FHJ'[0G]V M7_OTW^%'VA/[LO\`WZ;_``H`FHJ'[0G]V7_OTW^%'VA/[LO_`'Z;_"@":BH? MM"?W9?\`OTW^%'VA/[LO_?IO\*`)J*A^T)_=E_[]-_A1]H3^[+_WZ;_"@":B MH?M"?W9?^_3?X4?:$_NR_P#?IO\`"@":BH?M"?W9?^_3?X4?:$_NR_\`?IO\ M*`*.H/J:ZC:BT2(P$MO+,P_A/WL`X'I[UGZ=/8-J\DUO>1(D2R>:TDX+S'.2 M2,\*OJ?Y5O?:$_NR_P#?IO\`"C[0G]V7_OTW^%`&7=#9X@AE>YD\I[64XW`* M@&WD?SR:S;.VM=1BN#8W4*0;4/E/)O,FTY+R`'C/_P"OTKIOM"?W9?\`OTW^ M%!GC8$%)"#U!B;_"@#!T2\,=['!,K222HBI(S?-L"DJ=OH<$DYZMBBMU98BX M(1]WW03$PP/KBBFP)Z***0!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%(2`"2<`=ZR)KBXU&Y*:=-LC@Y,G9V[+]*`-BB MLP+K$R_,]O;?0;C_`(4G]CF7+75[<2R>JMM`^@H`LW&I6=L^R:X16[@(KO6KZ+ M3?#KN@;[\V-N1_,`>O7^H!T,B:C8@3+<&\B7[\90!L>H-7(K^UEMOM"S*(P. M23C;[&N,N&\0^%Y(;JYNVO;5FQ("[./H2PX]C73VEOI>JQ1:A#"CB3YO3GN" M.FVL8)+B39%& MHR[`8XKD[_Q;?7DHMM$L959O^6LJ\_ET`]S0!T5YJNEZ/L@N;B.#C*H`2W/0#O\`YS+I?AM;BZEO/$5S%<32=(_-Z>Y( MQ^0XKI-/L=,TX-]BB@BR,%E.21]>M`&0/`VE-:Q1N9EE4?/*CX+GZ'(%:-EX M;TBSB\M+&*3/5IE#D_G_`$J[)?6T?64,?1>:9_:,7=)1]4H`M(BQH$10JJ,` M`8`I2,C!Y%5/[1B;B-)9#Z*E'VYEYDM9U'J%S0`^SL+2P5UM+>.$.=S!!C)J M98T5F944%OO$#K]:K?;PW$,$TC?[N!^='GWG_/E_Y%%`'(2`^$O%@D`VZ=>= M0.BC//\`WR?T-=UUKG/%%H]]I+/>P^7';GS-T9!8=C5G1+Z>\TB"6V,9"0Q(XY[9_QH`VZ*I^;?=/L\8/KOXH\N^D^_-'$/]A<_P`Z`+E%89OM/_M' M^SY-5E-T3MV`D#/IG&,^V:H^(]731Y$M;>2ZGO)!E4$G"Y/&>Y)]*`.JHKB+ M+6?$+R>7_9=T6`^8L"`/^^AC]:TO[,UB]?SI;Z\M6[)YJ`#\$!!H`9XZ$?V& MU:1C\LP(1@=C^Q(Z)+1X%D$S0D3H^[S%.Q>6)ZKT`Z7 MYGVB+9NV[MXQGTSZT`344P2QM*T0D0R*,E`PR!]*?0`44A8*,L0![U%+=01$ MB25`1U&>?RH`FHJLE]:OTF4?[W'\Z1M1M$.#,#]`3_*@"U167-KEM&2%^;'J M0*B76VED$<$`=_16W8_'I0!LT5S-[KS1R>7)?VL'J(RKL/U-4Y-?CB4A-9)& M.=S^)+5,K'+>3`C^^<$_I_*IHO%]J$&YK]2/X000?QW?Y4B^ M('MTS-H,H0]S(R_^RT`=G;:K;W'F9W0[,<2#!(/<4DFJ1X;R(I)MO)*KQ_C^ ME^"+NT98X^@Z? M2@#8_MV5LF*-9``2P5&.T>IJ]#J#^6DLT0$3@$2(<@?6N6G\;:B(2HTCRY%& M7:3<5QWXP,?G6OH_VJZTN.?3YX1;S`DQ2KGRCW4>O/K0!JWFI0VRIM!F>3[J MH1^?L*H2:E@`JW::4D2EKAA-(>3P`H^@%3W!L[*W>>98 MHHHQEF*CB@#)-M;L=HNKZ>$\R*,D,?TINH:W]A:&VL%M8MO+I3ZC+KNJC$TH/E(1@C/?'88X%`%X^++ M/9P\&_T,X`_/']*HW7]O:R"(+D6ULPQB&,\C_>.,_ABNI%O`LGF+#&'_`+P4 M9_.I:`.2TWPI!:6^RXT]+J4GYI)),?D`>*V+&T.GQE+/3(80>NUQD_4]36K1 M0!GW,=U=6\D$]K"\4BE65FZUS]MI6HZ"6ATZ.ZG6;DXD38#^/(..^*["B@#C M!;^)-1U#R)D^QP*?FE8[^/;L3^%=1'IMJB*OE[L#&YCR?`U6P;R[PM?!MRR$87Z?_`%ZD\,:%J"ZO)J6M*QF1 M=L9=@Q8XQGCT`_6NPHH`****`,W6["?4+58K>=8_F&]77QT,V=S$PN`\,)+("GSDE=IRV>1 M^'\JV***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`*>K()-,G5DD<%>1$,MUZ@=_7%8NE6[S M:7IO7IS54H.6!)&<].W M>1ZU,!LM]`E-P3@;GD89]-N!_.K M*Q>+;X[X[:&R4#(`15S["P9-*=#\2ZOF._EC ML[?.612H#?@G7\37=44`"]-ML&6$W+CO)*0,_0`?KFM!M`TUR"=*L^/0 M8_D*UJ*`((XO+"B.WA0(,*%.-H]!Q3)+2.60226=L[@Y#,`2/QQ5JB@"G'90 M13F>.QM4F/610`WY[:L9E_N)_P!]G_"I**`.:UWPHNL:@EV9!`V`)0O.\#WQ MP<<=^U;=G:K8VR6]M!''$@P%#G_"K5%`%>XA-S;R02Q(TH]1[5W]5-1TZUU.U:WNX@Z'H>ZGU![&@#G_$7 MB2XB%I:Z08I)[L`HZ'=@$X&,C&2?7TK$G@\1ZM=1:-J`?:DF]I"O&,=2PX/? M'N:T_#WA.YT[73<711X(`?)8'[Q/0X[<$_C79T`9EKHUE:)"(M/M=T(`5V`+ M?7.WK5_,O]Q/^^S_`(5)10!'F7^XG_?9_P`*,R_W$_[[/^%244`1YE_N)_WV M?\*,R_W$_P"^S_A4E%`$>9?[B?\`?9_PHS+_`'$_[[/^%244`1YE_N)_WV?\ M*,R_W$_[[/\`A4E%`$>9?[B?]]G_``HS+_<3_OL_X5)10!'F7^XG_?9_PHS+ M_<3_`+[/^%244`1YE_N)_P!]G_"C,O\`<3_OL_X5)10!'F7^XG_?9_PHS+_< M3_OL_P"%244`1YE_N)_WV?\`"C,O]Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/\` MOL_X5)10!'F7^XG_`'V?\*,R_P!Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/^^S_ M`(5)10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%(2`0"0,]/>@!:***`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`*YGQ*T4>KZ=))^\97&(B2I/7E2.^< M<>=Y8/!]<\_7WKL7BC<89`1N#?B.AIVT8Q@8SGI1 MT'?6YS>DN[:I&9&/VLF07"YY"`+MR.W;'U-=+28&HJC_8NE?]`RS_`._"_P"%']BZ5_T# M+/\`[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+ MI7_0,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!` MRS_[\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!B MZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0 M,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?] M`RS_`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE? M]`RS_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_ M`$#+/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T# M+/\`[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+ MI7_0,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!` MRS_[\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!B MZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0 M,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[\+_A0!>HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"L+Q`\23VS>9BX1E9%)()7> M,[.Q;^E;M(0"1D`XZ4`@K6\,E%@FAB: M&5$V?OX00')7G.2>1W^O05M!0,8`&!@4``#``%"T!ZBT444`%%%%`!7/:G<6 M<6M!OM"I<0+YKEY0#M"G"*.^>I__`%5T-(0",$9!H`Y"PCCA)2ZR\JB4W2;C MG8`"N1]>GU-=#HMM]ETN%",,X\QAGH6YP/8=/PJ]@9SCFEH`****`"BBB@`H MHHH`Y>\FMSJ5Y]DN%%P%:)PTOSR.^%`"_P!U?Y_C5*/8ENBAU**J?:T>0JK. M'(VL?X3]?05VA`/49I"JD$$#!Z\=:`*6AM*VCVK39WE.YSQVY^F*OTE+0P"B MBB@`HHHH`2N7L#;76M*+*<-$&+./,W,Y7/SL.WS,`/I74TF!G..?6CJ'0YYX M7&CW"_:)B8[PDL2,O\XZ\=/IBNBHHH`****`"BBB@`JIJCP1Z;.]T[)`%^120?W;`<'!Y(Q6#X(T>_TG[;]N@\KS?+V?.K9QNST)]15A=%G M:UB24S,&NBTD)D&P(78Y&/;'?O0!T51-`#AC_M$MP>I_*I(-)U%&+21%T,)B$9D'!VL`W7G'`_&ETN/K8Z M6WN(KF/?"VYZ^S33A)>."IP,],G&!6!'HM_AVDA;>B@P_O M1PVY>G/H#6AJ%M=R3ZC%%:-(MY$D:R[E"KP02P--B1MTSSH_M'D;OWN MW?M]LXS7-W6F7[33>5%(9=[,9O,&)4XVH.>O'?T]ZCETZ_FO);@V4H>3=Y+F M1/EQR,],5?T&QOK6^G>Z\S#*0[$C#MNR",$D\=SCTH0,WZ** M*`"BBB@#._MW3?\`GY_\<;_"K5W=P64/G7+[$R%SM)Y/3@5R?]A:E_S[?^/K M_C70ZY;S7-G&L"2NRS(Y$3!7P#S@D@9H8%RVN8;N$36[AXSD9%22.L<;2.<* MH))]`*Y*72]3VQA+:4[9&>-F=3(,N#\QW``XSR,^E/ET:Y2TVFSDGDDB8`+, M%V2EOO$Y_NXZ9Z8[T/8:W.JC=9(U=#E6`(/J*=7'/I][$\DLZ&V1(F#2EP%! M"C9D[LGD=,`"K(LKZ5M/NO)=Y7/FR9;Y5+-N(Z@C`XR,YQ@BGU%T.@:^MEFF MA:4"2%/,D!_A7U_2I()H[B!)HFW1R*&5O4'I6#J>E7EQJTT\,8\N=4AD.X#, M?);^0'XU0ATG5!I\-F;:0&/)9A*H&"%X'.>,&D@9UWFIYWE9^?;NQCMTH65' MD>-3EDQN&.F:YI]*O(KAP+=WLE<_N5D'SINSM`S^.*@N;.X6]@26RE>.12(X M!,&((3U)'0X_^O1TN'6QU<\T=O$TLS;47J:KS:I9078M99PLQQP5..>G.,"N M;DTK5I)R7@9G*[9'#C#_`'<');)Z'C`Q5[5-.O)M3GDABN"K^5L*R((LJ M"3.P>N.M8.J:3<7FL23>27@,&`=X&7"MCC/J15.;2=2DY$$GVK:VZX M\Q?F4@84>WS*/QJI'I$D MCW+W$D@4SF6.%2NQCM&&Z9Z]L]JL6&E0I:6AN(<7$<:;OG/W@%]#@_='Y4+S M`TZ***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*Q;7Q% M`Y9+A'0K(R,X7Y%Y;&3GN%K:K*70+,)(A:5EDE\U@2.O/'3I\QH`<=;@$:MY M%UN8_*GE_,5QG=],5$WB.S!8K'<.@R=ZQY4@`$D<]@0:>=%!1:5=!M%A,2M*J;9%`!'`<`'MZ`8H`EL-7M=0F>*!F+*-P)'# M#.,C\?6J%AK#N(&23CM5W3M'@TZ5GA9R"-JJ0H"C.> MP!/U.:)(]FS>N&((SFH8_#]HD!A+S.A96.YAS@$=A[FK5AIXLC(?/E MF:3:"9,444`%%%%`!1110`4444`%%%%`!1110`4444`?__9 ` end GRAPHIC 6 tf1_a0415x11x2.jpg begin 644 tf1_a0415x11x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M^P*O`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`IK,$4LQP`,DTZFR()(V1ONL"#28&%;:]>W7E7,.E.]A+)L M617R^,XW;<=*D@\361BE>\9;79.\*@DN6VXYX'O5>RTS6[..&PANK9+.&3<) M@"9"F2=N",53?PWJJM(L<\)BEFE9'92V,9W)R"?I@4^H=#:U?4QIL$12$SSS2 M".*('&YC[]A2:9>WMQ++#?6#6TD>"'5MR.#Z'UINN:;+?Q6\EK(B7-M*)8R^ M=I(['%+I<6J>=--J53'?)&!5*"UN?[.DLQ#%*$GD$L2*;_`&U`$YAN/-\SRO)V?/G;NZ9Z8YJE_8EQ)81VTCQ@PV@B0@DC?D$G MZ?*OYFEETNYGDDN;BSLIWDD!,$C$JH"[00V.O?D4V(VXG\V)7V,FX9VN,$?6 MJ46KV\DYCVRH,.4=UPKA?O8^GO4%GH\T-I%&^I72LB@%8V7:/894G%02:?J5 MPT[7*6[/*#$LBS,?+C)&0%V#G'4YY-`%N'7+:5HP8YXTD(42.F%#%=VW.>N/ MPHBURUE@FE"3*(XQ*%9<%T/0KSWQ44ME?S7Y>1;?R$RMOB4@Q<8W;=N"WX\5 M3LM"N89(P4AAAS&)521F\S82V[D<9../^[0.6-I'OEP,@=>/KQ2 MQZDC+&TD$\*R2",&10.2.._?I]:ANM.EFN;R51`RSVZQ*DF2"06)SCMS5$Z; M-%`\2P10?:KF(K#`\34&@^ MR(Z0NLW1BLX[>"5H4+LP+,&`[=1@]!S4]FB6%;>#[8]UY"E@ZQXQG)!^8?2MN31;"2SDM3!^ZDD,K`.V=YYR#G(JAJ M'AJ![,Q6$<:,91*XF9V#D>^<@^XH&4G\4W:0NCV\`N1=-;@C>R#:.3P,G\*V M--U4W.CO?7<1@,6[>""`<=QGG!JIIOAF"'3GM[T([O,9AY19?+/0;3G-:*Z1 M8KIK:>(<6S?>0,06YSRI(4V,VY2@/7/;BMRXTRSND@2:'*VY!BPQ7;@8[&HXM&L( MEMEC@P+4,(OG;Y=WWN_/XT`8^G>(KZX>Q>XM[=8;U)"FQFW*4!ZY[<5+9^(I MKA-*9XHE^VB4OR1MV9QC\JU(='L(!:B.#`M=WD_.QV[NO?G\:@M_#FEV\RRQ MVQW+NVYD8A0PP0!G&.30!@R^);RYM[R$B)`UK))%+!O!4CW(&?J*WH8&O_#] MIYES<1N84W\C0J+F=FC7#'G'X5)>:WJDPMX8A##<1 MWPMYMK'8YZCG&=IYSWK>;0].;3TL?L^+>-MR`.V5.W9SFGU`R1XDNFU,6I2W:&1WB#1;R5('7<1M/T%2:?=7#^`WN M'GE:?R)#YI'-+BF$J6[!E8NO[U\*3UP,XJU%IMI%IQT^.+%J M5*[-QZ'KSG/>IZ-#ZHX[2KV[6_LCY]^NV`SSBYGW+*NW/R*:MCQ/J-U97#1V MZ1[H&DCD57_=X[$D8)QG&.,UT;Z18N+4-`#]D&(?F(*C&,9SR/K4,'A[3(&D M*6W^L0QX9V(53U`!/'X4WJ)%*PU:\1M'M;E8G:[@9VD!).`N0>>Y[U5T[Q)J M6I3QQP6]JH\HS2%BW"ARIQ[\5K-X>TUK>W@:%REOGRSYK!AGJ,YSBI;/1=/L M&+6MOY9,?E_?8_+G..3ZFA@C*TKQ!?7=QI_VBWMU@OA)L\MCN4KUSGBNEJC! MI%C;_9?*@V_9-WD_.QV[NO?G\:O4P"BBBD`4444`%%%,FD$4+R$$A%+8'4XH M`?16';Z[/-IIO!894,YRLH*[%ZG/KVQ5O3-674&XA:)7C$L18YWIG&?8^WO0 M!HT5AMXA.\(EF[%T:6/YQ\T:YRWL>.GN*M6NK)=78B2(B)]PCEW?>*@$C';K M^AH`TJ*:Q<8V*I^IQ_2FYE_N)_WV?\*`)**CS+_<3_OL_P"%&9?[B?\`?9_P MH`DHJ/,O]Q/^^S_A1F7^XG_?9_PH`DHJ/,O]Q/\`OL_X49E_N)_WV?\`"@"2 MBH\R_P!Q/^^S_A1F7^XG_?9_PH`DHJ/,O]Q/^^S_`(49E_N)_P!]G_"@"2BH M\R_W$_[[/^%&9?[B?]]G_"@"2BH\R_W$_P"^S_A1F7^XG_?9_P`*`)**CS+_ M`'$_[[/^%&9?[B?]]G_"@"2BH\R_W$_[[/\`A1F7^XG_`'V?\*`)**CS+_<3 M_OL_X49E_N)_WV?\*`)**CS+_<3_`+[/^%&9?[B?]]G_``H`DHJ/,O\`<3_O ML_X49E_N)_WV?\*`)**CS+_<3_OL_P"%&9?[B?\`?9_PH`DHJ/,O]Q/^^S_A M1F7^XG_?9_PH`DHJ/,O]Q/\`OL_X49E_N)_WV?\`"@"2BH\R_P!Q/^^S_A1F M7^XG_?9_PH`DHJ/,O]Q/^^S_`(49E_N)_P!]G_"@"2BH\R_W$_[[/^%&9?[B M?]]G_"@"2BH\R_W$_P"^S_A1F7^XG_?9_P`*`)**CS+_`'$_[[/^%&9?[B?] M]G_"@"2BH\R_W$_[[/\`A1F7^XG_`'V?\*`)**CS+_<3_OL_X5)0`4444`%% M%%`!1110`5E7>OVEI40)9(XRR19Z;C6K6"^G:I:WMVVFR6PBO)!( M7ESNB/?`Q@T=0-%-4M&>X5I1$+=PCM(0JDD9&#^-3FZMQ(D9GB#R#**7&6'L M.]<]J.@7UQ-<-&UNZ33B3#<-C8%ZE3CGT[=ZKQ^&+^.6S=6MMT21JS[BP^4] MU93GCIC&*$#.JCN())7BCFC>1/O*K`E?J.U9]WK]I:7,D+1W$GE$"62.,LD6 M>FXU2T?0[JPU=[AC"L)WY"G<3DY&,KE??YC4CZ=JEK>W;:;);"*\D$A>7.Z( M]\#V`W000".AI:09`&3D^M+0`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%9MYK=I97@MI1,3\NYU0E$W'`W'WK2K#U73]2O=3@D7[*]E"0PADD92 MS>IPO..PHZAT)+GQ'96TDJ-'<,8F97*1[@`N,M]!G%.;Q%8+=&',N!_RUV?) MG;NQGUQ6?<:-JLMC;VJ-;&,NTMTCR,OFL6)QD#I574?#.H7-[)+&;93(X)E# ML&5"NTH!C&.O-`S>MM'5-QMX;A4 M`R))(BJM]#WJ*;2F.KPW4/E+$D#Q,#G))Q@X'7IZU6T'1[C3[R6>5+:!&B$? ME6Q;:Q!SO.>_;O0(WJ9(I>-E5BA8$!AU'O3Z*`.>M_#]VD+JUY#F2B@#!/A^<2*\=ZJF M.-H8\Q=(VSG//+>GIWK4HHV#<*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`JI)96;3?.@\Q\MC>@"S]AL/,\O8OF8W;=YSCUQFB.PL95W1HKKDC*N2,C\:HZM:W M/\`X\?\:/[-M/\`GC_X\?\`&N:MGU69O+W7RQR&'/\`X\?\:/[-M/\`GC_X\?\`&K=% M("I_9MI_SQ_\>/\`C1_9MI_SQ_\`'C_C5NB@"I_9MI_SQ_\`'C_C1_9MI_SQ M_P#'C_C5NB@"I_9MI_SQ_P#'C_C1_9MI_P`\?_'C_C5NB@"I_9MI_P`\?_'C M_C1_9MI_SQ_\>/\`C5NB@"I_9MI_SQ_\>/\`C1_9MI_SQ_\`'C_C5NB@"I_9 MMI_SQ_\`'C_C1_9MI_SQ_P#'C_C5NB@"I_9MI_SQ_P#'C_C1_9MI_P`\?_'C M_C5NB@"I_9MI_P`\?_'C_C1_9MI_SQ_\>/\`C5NLFXM=1.K&=+@?9O)(VB,$ M]1\OWNOO0!-%:Z;.S+"8Y"O4)*3C]:06VF&1HPT1=<[E$O(QUR,U0T(&T?RX MUN6M5A12TMKL=9,XV_*H)'J><>M5X8C%/*JV]U8A(7C98?+:7<@4J%(X],XJ_HLMU'=S6D\(XW.\@4_>XYR>"#DXQT"T` M;=%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`5$97!($$AQW!7G]:EK'&K2_V MN]L_EQ0+((U9XW^<[<\-]W\/:@#2\Y_^?:7\U_QH\Y_^?:7\U_QJGJ&J&PDC MF=1)9N"N^,997[#Z'I]:AM==B,JV]V-EP6VML&55\9V=SYFW'`P,^OK@UJHV]%;:5R, MX;J/K0!'YS_\^TOYK_C1YS_\^TOYK_C4U%`$/G/_`,^TOYK_`(T><_\`S[2_ MFO\`C4U%`$/G/_S[2_FO^-'G/_S[2_FO^-344`0^<_\`S[2_FO\`C1YS_P#/ MM+^:_P"-344`0^<__/M+^:_XT><__/M+^:_XU-10!#YS_P#/M+^:_P"-'G/_ M`,^TOYK_`(U-10!#YS_\^TOYK_C1YS_\^TOYK_C4U%`$/G/_`,^TOYK_`(T> M<_\`S[2_FO\`C4U%`$/G/_S[2_FO^-'G/_S[2_FO^-35F7.NV5M>O:O*OF)& M6//<__`#[2_FO^-4M,U"XN)A%=1QJ9(%GC\O/" MD]#GN..:SF\3-%N:1(6WB3RXD8[T*G&'^O\`G-`&]YS_`//M+^:_XTJ2,S`& M&11ZDKC]#6-,GBM#3K];WS2'CP&^1% M;+;?[Q^ISCVQ0!>HHIK,J*68@*HR2>PH`=15&WU>QN+9KB.<>6C["6!4@YP. M#ZU-;WUO=221P2;VC.&^4X!SCK0!8HJ@^LZ>A<-=*"C;3P>O/MR.#STX-3QW MMM+=-;)*K3*,E1^'?IW'YT`6****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HILDB M1(7D=44=68X`H#*5#!@5(R"#QB@!U%12W$,(4RRH@8X!9@,U)UH`6BBB@`HI MKNJ*6=@JCJ2<"LXZG+<2,NGVQN%7AI"VU<^@SUH`TZ0D`9)P*S/*U.[?][*M MG&.T7S,?J:5=$M6.ZY:6Y?\`O2.?Z4`+-K,,=P42.2:-/]9+&,A*9XADN%T> M1[.0H^,DJP5MO4XSWK1@@BMX]D,:QKUPHQ46H6,.HVCV\X.UNA4X*GU!H8T9 M,5[=DZ^CB5]DOEXR0<8V`< M$@]:OIIMHD4,8BRL(8("2>HP<^N@!Z4/ MJ)=#$@U*\GNOL2W=PI\OS6EDB".&"DE<%<8R/3U&:MZ7J-Y/>0R79F2*Y_U* MKY?ED[`2#QN_O'K5_P#L.P\GR_+DQG.[S6W=,8W9SC'&*EATNT@N?M$495QT M&X[5.,$A>@..]/J'0N4444@"L^72DGN?,FN)I8=_F"!R"@;&/3./;.*T*@:* M+S-ID<.V2%\UAGUP,^]`$:3%MY;R>>=B$AV\]L*1U MR<\4`9]MX;M;=U832DH4P`$4?(E_[^M_C1]G3^]+_W];_&@":BH?LZ?WI?^_K?XT?9 MT_O2_P#?UO\`&@":BH?LZ?WI?^_K?XT?9T_O2_\`?UO\:`)J*A^SI_>E_P"_ MK?XT?9T_O2_]_6_QH`FHJ'[.G]Z7_OZW^-'V=/[TO_?UO\:`)J*A^SI_>E_[ M^M_C1]G3^]+_`-_6_P`:`)JADM89)3(Z9HH^SI_>E_[^M_C1]G3 M^]+_`-_6_P`:`*MII2VIW+>*`(DTP+ M;W$9N)7EN?\`63-C<1C&!@`#BDM-)AM+U[B)FP00L>!A*6V8;;C=;QRE2R?/S@_GR>>M6M/CGL;ARUO>!].*W**`.4_L[4$FB?[$SB"WDMOOKERQ.&'/3IGOS5[3-/NK M>\ACEC.R!I'\[(P^X``#G/KU':MVBA:`]1K*6QAV7Z8_K3?+;_GJ_P"0_P`* MDHH`C\MO^>K_`)#_``H\MO\`GJ_Y#_"I**`(_+;_`)ZO^0_PH\MO^>K_`)#_ M``J2B@"/RV_YZO\`D/\`"CRV_P">K_D/\*DHH`C\MO\`GJ_Y#_"CRV_YZO\` MD/\`"I**`(_+;_GJ_P"0_P`*/+;_`)ZO^0_PJ2B@"/RV_P">K_D/\*/+;_GJ M_P"0_P`*DHH`C\MO^>K_`)#_``H\MO\`GJ_Y#_"I**`(_+;_`)ZO^0_PH\MO M^>K_`)#_``J2B@"/RV_YZO\`D/\`"CRV_P">K_D/\*DHH`C\MO\`GJ_Y#_"C MRV_YZO\`D/\`"I**`(_+;_GJ_P"0_P`*/+;_`)ZO^0_PJ2B@"/RV_P">K_D/ M\*/+;_GJ_P"0_P`*DHH`C\MO^>K_`)#_``H\MO\`GJ_Y#_"I**`(_+;_`)ZO M^0_PH\MO^>K_`)#_``J2J=UJEI:/LEE&_NJC)'UQ0!8\MO\`GJ_Y#_"HA-$9 M/+%X"^<;=RY_+%4I=0DU#]QI@;#?>N&4A5'M[TR*#0CBT$UK)*#M(\T>83^! MSF@":75+=)3''-/.XZB%`V/TJ-'U:ZR\)6WBS\HF7YR/7&*;+KFAZ3BW-U%' MCJL8+X^NT'GZUC3>/X%N'$-A)+;J<"3?M)_#']:`-XZ2\[*;V\DG"G.S:%7/ MTI/[`L^YE98I0N0O^R>*SQX\T MS[,DABN/-/!C"@[?QSC%;6E:K9ZW:-+;$LH.UXY%Y7ZB@!MSJ"1,D<#RW,SC M:CM*K93K(>%)964'WP*OVMC;69![`>E:"0^6@1)&51P``H`_2I:*`(_+;_GJ_Y#_"CRV_YZO^0_PJ M2B@"/RV_YZO^0_PJ2BB@`HHHH`****`"BBB@`K%OK)SK2SP))ODM94,F20#\ MNT>@[_K6U41E<$@02''<%>?UI6`P=+CN5E1[&U$>RUCBD$ZM&"X)SVY(]?>I M=0T^5]3!A1C'+&TLL8'[MI4QLR??/X[16QYS_P#/M+^:_P"-'G/_`,^TOYK_ M`(TWJ".5@N-66UD\QKM@0F\[7!1L_-R5SC'4*/3%7-'749[N`7;WBQ1B1OF# M*&PXV@Y&3P3UK>\Y_P#GVE_-?\:/.?\`Y]I?S7_&@":BH?.?_GVE_-?\:/.? M_GVE_-?\:`)J*A\Y_P#GVE_-?\:/.?\`Y]I?S7_&@":BH?.?_GVE_-?\:/.? M_GVE_-?\:`)J*A\Y_P#GVE_-?\:/.?\`Y]I?S7_&@":BH?.?_GVE_-?\:/.? M_GVE_-?\:`)J*A\Y_P#GVE_-?\:/.?\`Y]I?S7_&@":BH?.?_GVE_-?\:/.? M_GVE_-?\:`)J*A\Y_P#GVE_-?\:/.?\`Y]I?S7_&@":LM[74#K:SK176^<_\`S[2_FO\` MC1YS_P#/M+^:_P"-`',I8-=6]]=7`=(]P,:0Q%-_R;2`K#/.0,UHZ++=1W6DLUN)#B:&-\`-W!'^>*U(] M/L+(FX6)(]BDEV)^4>O-`%<#5KQ?F:*SC;T!,@'\J<9--T*%?/GCB:3^.0_, MY[GUK!O_`!L9Y/LNB6KSS,<*[KP?HHY/XXIMEX9O]5U#[;XD; M@^E`#_$7BE)X5L-$,'Y0>P]S^E-M_`5LVG1BXN)4NR,NR$%0?3'M M]:W]/\/Z7ILOFVEHJ2XP'9BQ'TR>*T7=(QEV51ZDXH`YZQ\%Z3:IB:-[IR.6 MD8@#Z`?_`%ZV[.RMK&W\BTA2*+KM4=3[^M'VVVSCST_.AKVV5QS0!*L M<:9VHJYZX&*S=-\/:=I=W+?"7BS^[IUY^2C_`.Q)_(UU_P#:"D9% MO<$=CLZUD>*+==6TID:"6(Q'S%E=.%`ZY]L9H`Z+K2UA:!?N^D6ZQH;H0KY; M2H>#C_ZV*T?MS?\`/I<9_P!R@"Y15/S[R3_5VP3WD;^@H\N^;[T\:?[J9_G0 M!YC178$`;SA1GN?:LJ/QA:3#]TH<]P"V?RVY-:>II+>Z*Q27[([1[CYO0` MCE6]N:3&MQBZK,);.)[1M\Z,S,K`KD`D!3WSBI;&_GG:XCGM@DT*JQ2-]V=P MR!G`^:H;?2C!;V2)$E=O+9Y''I_*CJ!LT444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444G3K0`M%00 MWEM/$98;B)XPVTNK`@'TS4B2QR,ZQR([(<,%8$J?0^E`#Z*A-W;+NW7$0VML M;+CAO0^]/$L;2M$)$,BC)0,,@?2@!]%%%`!136=$(#.JD],G%(DL;DA'5B/0 MYH`?144EQ#$P$LT:$]`S`9J*34;6/K*&/^SS0!:HK-DUNUC^\''<9P/ZU1D\ M2"4,+%(96'0^:#^@_P`:`.@HKEX=^MKF1XX)E=D^]C_`#S7*SZ7K8&^+3K9V/4-/N/ZXK+N=1OM M,O!!JENEL&CW+Y8W<>G7'_UZ`.]EO[:+AI03Z+S5)]=@7D*"N8+;2%!.1$S/G)]QC]`:`-'5KF MXTZ"*+04$D\A)FG<`G]?6DC\2:R(`)-&C:7'++<`#\N?YTWPSHU]-?G6=7)6 M0Y\N$C&.V2.W'05UM`'!W4OB/6)=LLRV4)&-D3'GVXR3^>*U-'T+3M/M\36$ MMY,WWI)8`1]`#TKJ:*`,VV:VLU(M=,DA!ZB.`+G\JE>[+JR-93,K#!!7@BKM M%`'&6V@ZAIM[//I@Y...QJ::'6KB1=-EMY9H207GN&79CWV M_>^GK76T4`9MMHUM;1[8B\>1\WEX4'\!4W]FP=6,C'U+FKE%`%/^SHQ]V69? MH].33[93DQ[SZN%3E88P?4**EHH`0@$8(!'H::L M4:G*QJ#Z@4^B@`IDB++&T;C*N"I'J#3Z*`.#M?#WB;33+;Z?=QI`S$[@X&[C MKTR*N:-X@OK+56TKQ`R*V,I,V![C)Z$$=Z["L;7O#EKKC1/,[Q21\!TQR,]# MG]/K0!CW7BR^O+Y[;0+(7"IUE92<^_;`^M9UUI/B>]D?5I\QW,&#%$K#=@?W M0/Y=_>NUTO2K32;;R+./:")Y<-LA,JKQ]3[ M$G`KL8_#NCQ2!UTZ#'IA([(`P((7()[`^U;M,DC26-HY%#(P(93T(I,:=CD+<( M9=$N9&D@A:&9?+#DK&H4_,N>>>OY5/X4N+`_:1:S"$7#A(80267"GYCVW'!/ MX5U0&!@4QX8Y)(W=9M2,$4LARP+;06^ MN`:FTZ$6WB];>W*L$:3S&!;<$V+M5@1T!Q@]Z[&DP,DX&3WH6@,6BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"HKE0]K*I5G!0C:IP3QT%2T4,$64= MR'_B`ZX^F/RJ[I&;6<--')%MC$,K-&1ND,AQVYZ]>G-=``!T&*"`<9`.#GF@ M.AQAMG6>-I+*=A';R0RXA)W2DMCMSU/S=/FK2TJWGCU")98G$T;2-+(5.&4A M=OS=#T_2NBHH6@/4R]4FU".=5LX9)$*?PA<9R>YZ=O:L]=%N;H;KY3GL&D,O M\R*Z2B@#G!X?E16\N18W(P&6!?U^?FJIT36EW+#^["D<8_7)_6F2>&-Y.;V^QVSY9_I72T4`MXHK6(1VUH(D'\*!0/YU9HH`C\QO^>3_`)C_`!H\QO\`GD_YC_&I M**`(_,;_`)Y/^8_QH\QO^>3_`)C_`!J2B@"/S&_YY/\`F/\`&L_5=(L]7\K[ M;:R,8C\I#`'GJ.OM6I10!#$!#&L<5NR(@PJKM``_.G>8W_/)_P`Q_C4E%`'` MW45[X1UB2^MH6?3YV^9.P&<[3C.".QJUKOBS[5I]M'HSNL]R^T\#>OM[$DBN MRD1)$9)%#(PP589!%3_F/\:DHH`C\QO^>3_F/\:/,;_GD_YC_&I**`(_,;_GD_YC_&CS M&_YY/^8_QJ2B@"/S&_YY/^8_QH\QO^>3_F/\:DHH`C\QO^>3_F/\:/,;_GD_ MYC_&I**`(_,;_GD_YC_&CS&_YY/^8_QJ2B@"/S&_YY/^8_QH\QO^>3_F/\:D MHH`C\QO^>3_F/\:/,;_GD_YC_&I**`(_,;_GD_YC_&CS&_YY/^8_QJ2B@"/S M&_YY/^8_QH\QO^>3_F/\:DHH`C\QO^>3_F/\:/,;_GD_YC_&I**`(_,;_GD_ MYC_&CS&_YY/^8_QJ2B@"/S&_YY/^8_QJ2BB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,+Q5))';0 M%)WC42`NDAXYHT"XF>5A/(\IFC\Y'\_>I7<<<8`4].F:U;RRM MKZ-8[J%)55@P##."*9_9MF,[+>.,LZR,44#+`Y&?QH0,YHWET\\2M?3()K:2 MXW^S]:T-+O+B>^ADEE(GY5"@$$#M_\`7K5;3;%MVZS@ M.]][9C'+>O\`GUJ5+:!+A[A(8UF<8:0*-Q'UH0/4FHJM<:?97<@DN;.WF<#` M:2)6('IDBHO[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_"C^Q=*_Z!EG_W MX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_``H`O451_L72O^@9 M9_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_PH_L72O\`H&6? M_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*`+U%4?[%TK_H&6?\` MWX7_``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG_P!^%_PH_L72O^@99_\` M?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_PH`O451_L72O^@99_ M]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\`"C^Q=*_Z!EG_`-^% M_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^%_PH`O451_L72O\`H&6? M_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_"C^Q=*_Z!EG_WX7_" M@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_``H`O451_L72O^@99_\` M?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_PH_L72O\`H&6?_?A? M\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*`+U%4?[%TK_H&6?\`WX7_ M``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG_P!^%_PH_L72O^@99_\`?A?\ M*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_PH`O451_L72O^@99_]^%_ MPH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\`"KU`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`8^MRR0R0RQ7#J8V4O&K@84L`6(_B] M,>]9L=]=&>:Y^TN/]("QQL^$\M@Q!(^@!S[?6NDFM+>XDCDF@CD>,Y1F4$K] M*:MC:K(D@MH@\:;$;8,JOH/:D,HZ"\OERP7+.\T80LYF\U6W+G(.!CZ5K5#; MVL%HA2VACA0G)5%`&:FJF(****0!1110!CZY))')&8;F190-RQH<``$%G;U& M.,>]4H9;HS1"6YF#AXHF0/U#H2Q^N3P>VVMRYT^ROKI!,P&`TD88@?4T\ MVL#7"W!AC,RC:LA4;@/3-"`I:&KFVEF:>65))&\KS7W$*#@?GC/XUITV.-(D M"1HJ(O`51@"G4`%%%%`!1110`5@7DMQ%=W6YTFWEF),C+R3U//6I)=.LIGD>6TA=I``Y9`2V.F:L(BQHJ(H55& M``,`"A;`.HHHH`****`"DI:2@#GP]SYDHANYI8I9$B$C'@ONRVST`4$<>E/: M2]&E3L;O,D=T0SA<974'R M?3TJQ0`4444`%%%%`#)<^4^'"'!^8_P^]8-JUV_EQPW4ICFE+122DDE53EO] MTMC`]/K6^ZJZ%'4,K#!!&014%O86=J^ZVM8(6P1F.,+U^GT%`&$;FZ6WLIWG M>2.*+=,%GV.Q+@9VX.[Z<5TM0-8VCM$6MH283F,E!\GT]*L4`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110!FZCKVFZ7.L%[<^5(R[P-C-QD MCL#Z&I--UBPU;S/L,_F^5C?\C+C.<=0/0UR'CO3[V[UF&2VL[B9!;J"T<3,` M=S<9`JY\/[*ZL_[0^U6TT&_R]OFQE6LLQABN87E&30VS7Q49CR=['`Q@YV[? M7D$GUH`ZMI$4D,Z@@;B">@]?I1')'*NZ-U<9QE3FN3O8=2624*MW)`@DC9@& M,C)GY0#CGD\]\4MO%J:HY47AU$UW;6[JL]Q%$S M?=#N%)^F:EK&U,1KJJR7%I+<1&U9`$@:0;MPXX!Q^-9,']KV]HD1:[-U&")4 M"DH(P!MVG&"?IR>:$#.NWKOV;AOQG;GG'K0CK(H9&#*>A!R*Y.62\EU"6Y1; MY6(86Q$3@-\XVAN.F,]:73_[4AO;6(B:.,,,)L;!4D[L\8_,YZ8H70'U.EDO M[.*7RI;N!)/[C2`'\JL5@^((&\^*>&V:1EBDRT:9(/RXYP??MGTJG:2ZF7MP MWVTQ"4B4['_U>X;<%@">>O?;FA:@^YT<]W;6I47%Q%"6Z>8X7/YU,""`0<@] M"*P[FSO;O58&F$,>V%QN6/S4QN7`^8#!Z_E6$6Q66ZRX+88,?GW8VX`X M&T#@X'4T(&==16!H,FHO?3B]:0C:=ZLK85MW&"1CIZ9'2M^@`HHHH`*SO[=T MW_GY_P#'&_PK1K@_[/O?^?2X_P"_9_PH`[9KJ!+=;AYD2%@"'<[1STZT^.1) M4#QNKHW(93D&L;4X96T&R0)(&1H2VV$R%<8R=N.<>E9.[4;>*..WCNEQ(SJR MQ.@DR_4H%XXSP<#':A:@SL:1'610R,&4]"#D5S<`O8S`;F743Y@+*$!)W[\8 M(Q@#;CKQU-5;<:BLUM;H+N%IKE8+G5)KBVN)&N2&<)Y4>0ORD*QR`1U#$AL<=#4^J6EVVLW+P0RE+F-+ M9V"G`4Y);\,'\Z'M<#I4=9$5T8,K#(8'((H+JK*I8!FZ`GDURJ2:C;6,-M&E MTK^5"458V^4!"&&<<M'<.QU0=69E# M`LOW@#R*'=8U+.P51U).!7'M-.EZR^=J:VTC-Y;%&#OA..V2,^OXT3OJUQ(R M2Q71++B1-K,N1M.1\NT#.>A)]:$!UDUU;P.J37$4;/\`=#N`3],U+7.>)+>2 M:\!42A3:NF4M3-DDCY>!\OUJO*^J[62/[9'<$D/&H)1(\#;M.,9^G/7-"U!Z M'5.ZQJ6=@JCJ2<"@.I.V\9PC?=VGS/O`<],>_2@# MJK>XAN4+P2!U!QD5+533K**Q@*0M(P=MY,G7H!CH,<`5;H`****`&2RI#&9) M#A1U.*@34+5W5%ERS'`&T_X4:DK/8R*BEF.,`#)ZBLBVMIUNH2T,@`<$DJ>. M:`-R>XAMU#3S1Q*3@%V"@G\::+RU,QA%S"91U0.-P_"L_4=D6J1W%U;R36Y@ M:-=L1DVL2.P!ZCO[5G6.D2S1RN\*VL:3>8D)B)DX48&_/3\.W6D.QO/J-G&< M-#T/Z'\JLUCVVD1W.FV?GF6*1;=$8#`(^4@@@C_:(K8JGH2+1112 M&%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!FQ:W9E4\^00N M[,H4Y/1RNQ`0JT<0:'.%;KGG)/3VXZ*L M)?6LETUJDRF9>J__`%^F?:LQ/#JQVYA2Y(79*@)3)^=0/7MC\:EM=$%OJIO! M*I75QD9-6)-7L(IO)>Y M42;MN,'@YQSZ3GD]N@K3HZ!U"BBB@`HHHH`****`"BBB@`HHHH`****`"FNJNA1@" MK#!![BG44`,BBCAB6*)%1$&%51@`4^BB@`HHHH`8T2-(DC("Z9VL1R,]:?11 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% &%%%`'__9 ` end GRAPHIC 7 tf1_a0415x12x1.jpg begin 644 tf1_a0415x12x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M\@*J`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`KG;WQ%+;:^MHL2&R1DBGE(.5=@<BT[S88XY)KE(3+A(RRH.Q;'09J#3_$ M]M/I:W-P&692B/&J:V%O<,8=V\8^\.>#26_A: M&&^L;DW!;[-&JLFS`D900K=>,9H7F#'1>)(H[>22Z^=OM3P1I#&Y2K=L9XQ]:!EN3Q+8+';/&L\YN0QC6*/HI=6U M&ZCO+2PL%C%S M]FM[JUN?LUW;YV2;=P(/4$4"*,NJ:M9?8XKV"W#S7:P%UR0Z'^(#/!^M6_\` MA(;,7OV:1+B/+,JRO$0C%>N#5<>'IG^SO+PK M(FHK=-?*2LK2!C#EV![%B>W;C\*/Z_(/Z_,NV_B6QGAEF"7"0QH9/,>([6`] M"/Y5:TS58=35S#%/'MP?WJ;<@]"#T-8]IX4>WGFE-Y&K/$T8\JW"AL]V4DJ? MI@5BRM&':0(N%ZL2>@SD M#UH&L(R1R+!*RO;^>0HRPR0%&!Z\_E44%A=):-;1ND8CF<@2Q[TE1B2,C(/& M?7J*FTO2O[/CD0R^86144XQA0.GYDFET'U(I==CBT^UNS"V)T,A0-RH`S^/) M`_&F3^(!;(5N+=8K@2B,H\P51E=P.X\8Q^M*-"!M%MI)]RI:B!&"X(.NFWBR/<"[A^U.X9B8,H0%V@`9R/7(--^0C1MY3-;QRD*-Z@X5MP_`CK M5`:NR7!CN;5X$9)'1F89(3J2.WM26V@6<-O'&YE=E&"PE=03]`<"HO[&NF^T M>=>0R_:/E=C`0^S/W0=Y`&,CI[T`/369=\'GV$D4 M(%GMIY1;X,:*ZJ)`V[<!GMQ MUJ.'7/,C5S%%M<.$:.X5QN"[MI(X'&?RJS/IS27-S.D^QIH5B&8PVW!)SSP> MO2J:Z7G1:I;"WN'D$6\,P0@;L M=CD=*J3^&]-EF$B0BW_=M&R0*J*X8=QBA#*UUXJ@@,H2#>%G\B-C*J*[`98Y M/``]?>FIXJ%P+5;.Q>>:XWCRQ*HVE>O/0^N:LGPU9#3;>SB>6/[.Y>.4$;PQ MZD\8/Y5+:Z';VT]K,)KB22V#A3(X.[=USQ_+%`BG_P`)/&FJ"SGMO+4LR[_. M5F&T9R5'(%);^*!));>=820P76]HI2X.549)('3Z4^/PM:Q7`E6>X(21I4C8 MKM!/4'C)'XUFZ9X>O5U*U-U$R6UMYGRM<"12&!&$&,@<]Z$-FEI'B>#5+U;8 M0^49%+Q'S5>ZFN(1UPHP!GJ?:J">+O.3=;:=+(5@,[CS`NU02#]>E:-MH-M; M/9.LT[FR5DCWL#D-Z\=NU0VOABRM%D$G7FC^OZ_`!1X MBB9W"P.0ME]L!)`R/[OUJO?>*5LX+>8V>Y)H5F.9E4@'L`>6-33^&+67RPMS M?9OWD?PC`Q@4K:9`^IM?L7,C0>04)&TKG/IG/XT>@>IF0^)6E,1_L M^5([D/\`979U_>D#H1_#GWJI:^*+J/1H+J[LU=Y2Y#F9(U8`]L]^V.O%:5GX M78$>Y5^9>$;JHX_7WH`?IFL2Z MAKJHC%;22R698R!D,6QUZUE:OKEY;ZMJ,(U&6W2':(42V60$E&29G2`0#>01M!SV`YISZ):2RW[R[W^W!1*K$8&!@8XXH?E_6H+S,^ MX\12:;9V27L"M>S1>9(AD6,*![GC/M5<^*9VOC)%:E[%;/[1CQXQ2R^&[665&,]R`+I(ZY.:&" M&R^(HXQDV['_`$+[9][M_=J%?$ERQM4&DR>;=JSPIYR_,H`.2>W7]*DB\+VR M+()+NZE+VYMLLR_*GMQ5W^R+?[393[Y=UG&8XQD8((QSQ0_Z_'_@!_7]?B2: M3J":IIT5XB-&),_*W)!!P?Y5ZM46U18U!43$J0N3E_]H8';V]Z`-^BL.TUJXN)(2T"+ M$Q2.0<[MS`D$>W3\Z74]9GLYY!%#&\<;I$=Q(.]QD'Z#C\Z`-NBL$ZU)?[Z?]\'_&C$O]]/\`O@_XT`24 M5'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_`(T`245' MB7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[ MZ?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z? M]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\ M'_&C$O\`?3_O@_XT`245'B7^^G_?!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\` M&C$O]]/^^#_C0!)14>)?[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2 M_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_W MT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_ M[X/^-`$E%1XE_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_ MXT`245'B7^^G_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT M`244BYQ\Q!/L,4M`!1110`4444`%%%%`#)I4@A>60[412S'T`JG8ZQ9WVGK> MI*(X2Q7,I"X/H>:;KEE<:CIS6EO(D?FL!(S9X3/./>L-O#-_!>"2.:WNX!() M?*G&P,V-IX"XZ8_*@#H+'5+6_MA/%(%4ACAR`0`2"<9Z<4J:E:MYQ:58TB8* M9)&`5LC(P<\]:P#X6NCIEG`L\4.- M1(4*KL"XSM([=,'B@#I&N8$:-7FC5I/N`N`6^GK1'<02NR131NR]55@2*YB? MPU?2($+68]_P#=SZU;M=3M+F"WE694^T*&C21@&(^F:R[?3-6LP]G: MRVRV;3-)YC9+[3R5QC'XUGOX8U%A:INM2(4C&X':05.3SMR<]N1BA`SJENK= MGD19XBT?+@.,K]?2JEYK5I:I`X;SUG?8IB92,^Y)`_6L-/#%XLEV!]F$Q6%L9I@[#(4*B[F8GH`*I'Q%8BVCG/FA7 M+J5*?,A49;(_3\15G5H[Z6P>/39(H[AN`\A("CN1@'FLJSTC4;55,:VL27\JY\P2>7Y'E?O,XST^G-3-KU@B)(TA$3P M>?O(P`N0`/7))Z>U8K>'=0>P2.=;2:03&64&5_WY((R6QD8[`<5?TO1;BW@G M2\>.5S`D,;=0`H/MZG]*;$6)/$%JEO:3+%W'`J*?0X[L`W-Q,6*J9-F%#2*,!^G!_3I6M10!E?V'`2K- M/,6)S,?E_??-NYX]?3'%:M%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`0SP>=M_>RQX_YYMC M-1?8?^GJZ_[^5+=QF6UD197B)'WXR`P^F:R=*1[W0K:TGMY/)>V7]_O'7';G M.<]_:@#1^P_]/5U_W\H^P_\`3U=?]_*YI[R^A6*ZDG4RO(]L9CM4(J9_O<`L M1DY],4Z7Q#>@V[>:B-B(NF%"MN;!(R=QXYX&!ZT`=']A_P"GJZ_[^4?8?^GJ MZ_[^5!HDUSKK_OY5NB@"I]A_P"GJZ_[^4?8?^GJZ_[^5;HH M`J?8?^GJZ_[^4?8?^GJZ_P"_E6Z*`*GV'_IZNO\`OY1]A_Z>KK_OY5NB@"I] MA_Z>KK_OY1]A_P"GJZ_[^5;HH`J?8?\`IZNO^_E'V'_IZNO^_E6Z*`*GV'_I MZNO^_E'V'_IZNO\`OY5NB@"I]A_Z>KK_`+^4?8?^GJZ_[^5%K37R:?(=/56E MQZG=^``.35&\LUO-3LHKB*-9R#-,T;$C:I``!XZDC\C0!I_8?^GJZ_[^4?8? M^GJZ_P"_E9'B"XT^5HXVN8C.ZLD9><+'$SM,-[_`"X"(,\COZ?CT`-S[#_T]77_`'\JRB[45?R=O[J63/_/->9]FD\SRSM8@'`-6*`*GV[_IUNO\`OW1]N_Z=;K_O MW5NB@"I]N_Z=;K_OW1]N_P"G6Z_[]U;HH`J?;O\`IUNO^_='V[_IUNO^_=6Z M*`*GV[_IUNO^_='V[_IUNO\`OW5NB@"I]N_Z=;K_`+]T?;O^G6Z_[]U;HH`J M?;O^G6Z_[]T?;O\`IUNO^_=6Z*`*GV[_`*=;K_OW1]N_Z=;K_OW5NB@"I]N_ MZ=;K_OW1]N_Z=;K_`+]U;HH`J?;O^G6Z_P"_='V[_IUNO^_=27=U#9V[3SMM M1>M07&IQPWEK;+&\AN&P)%'R+P3UZ$\=*`'_`&[_`*=;K_OW1]N_Z=;K_OW5 M?5-733YX(2L9>4,P\R81@8QW/?FHVUQ4U`VK6YX.TD."V=N[.WKM[9]:`+1N MD(P;*XQG=_JN_K5M&W(K8(R,X(Y%9>G:V-0:-$@P[$[@'R%7:#G..?O`8]<^ ME:U`!116*VO,EY?1_9&>*T7)9&RQ/H5[`^OXF@#:HK,35U?4H[-43E,U#6UL9W0V[2(A5&=6'WV&57'Y<^]`&M16/_;N#M:V8-&<7`WC] MT-VW(]?7MQ6Q0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%-=UC0N[!549)/04`.H MJG#J=E,A9+F,`==QV_SI&U:P5&?[5&0O8')/T'>@"[14%K=P7D>^"0,.X[CZ MBIZ`"BBHIKB&W4--*D8/3<<9H`EHK+;49KR3R],C#*/O3R`A![#UH:QO[D;+ MJ]`B/WEB3!8>F:`+\UQ#``9I4CSTWL!FJ$VJF600Z8BW$O5B>%4?6IH=(L8F M+"W5R>\GS?SJW'&D2[8T5%]%&!0!`)GET]Y)%:U?8V=W.SWKEK,RIH=]'%K@L1E2>1G'/T]Z[(@$8/(JM;Z=9VT#PPVT2Q2,69`HP2?44(.AE MPS21:XSS2>9%-*\<>VX?$>U,X*?=['\36=JEW=V]Y+LDF!DF=&E67*"/`X"Y MX*_3^==)/IMG.9F>WC\R9-CN%&XCZT_[%:^:\IMHC)(NUV*#+#T/K0!S4TLT M,]P%F:2UL6<^5]JD1V7Y>A!RV#D#/TKK!R*JC3;$+$HM(,0G,8V#Y3[5;HZ6 M#J%%%%`%>\AEGA"P2K'(K!@70..#T(_PYJMIVE1V4DD[,7N)79W9257)]%SC M^M6YX/.V_O98\?\`/-L9J+[#_P!/5U_W\H`SI_#P>"-4F7?'-)*-R':=Y.00 M&!XSUSVJ%_#+D1(+P>6@3`,9^4J<\`,!R?4$UK_8?^GJZ_[^4?8?^GJZ_P"_ ME`"Z=:?8;00;]^&9MV,=6)_K5JJGV'_IZNO^_E'V'_IZNO\`OY0!;HJI]A_Z M>KK_`+^4?8?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?\`IZNO^_E`%NBJGV'_`*>K MK_OY1]A_Z>KK_OY0!;HJI]A_Z>KK_OY1]A_Z>KK_`+^4`6Z*J?8?^GJZ_P"_ ME'V'_IZNO^_E`%NBJGV'_IZNO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[^4?8 M?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?^GJZ_P"_E`"W]A;ZC;-!^#Z57AT'R;N-UG4Q1R"4$Q_OGU_.H+O19[[YI;E(C)LDD5(\XE4 M8!!S]WIQ[=:VZ*`,4Z'(SEVNEW3'_2,1_>&[=A>>/3O6RP##!S^!Q2T4`1^4 MOJ__`'V?\:/*7U?_`+[/^-244`1^4OJ__?9_QH\I?5_^^S_C4E%`$?E+ZO\` M]]G_`!H\I?5_^^S_`(U)10!'Y2^K_P#?9_QH\I?5_P#OL_XU)10!'Y2^K_\` M?9_QH\I?5_\`OL_XU)10!'Y2^K_]]G_&CRE]7_[[/^-244`1^4OJ_P#WV?\` M&CRE]7_[[/\`C4E%`$?E+ZO_`-]G_&CRE]7_`.^S_C4E%`$?E+ZO_P!]G_&C MRE]7_P"^S_C4E%`$?E+ZO_WV?\:/*7U?_OL_XU)10!'Y2^K_`/?9_P`:/*7U M?_OL_P"-244`1^4OJ_\`WV?\:/*7U?\`[[/^-244`1^4OJ__`'V?\:/*7U?_ M`+[/^-244`1^4OJ__?9_QH\I?5_^^S_C4E%`$?E+ZO\`]]G_`!H\I?5_^^S_ M`(U6O-2AM7$05IIR.(HQD_CZ5EZMXC:SLVY"]$7(R/H^,,RH+7Q+8O`?W-[ M=7)'`GD^3/X'/X5VFG:'INER.]G:K&[C!8L6./3DFKBVT"/O6&-6_O!0#0!P M-IXDMHH)AK&G^9>1$*B@%&9`#&%;=G\>,5TL_A M_3[C5DU*6(F=<<9^5B.A(]?\*LW6EV-Y.D]S:Q2RI]UF7)_^O0!R^FZ[#J6H MA[&WEBN-I,D)DXE7V/J*W&U6!HPL,4[73-M$#,P8'W]JQ?&EC+9W5MKMD,20 ML!)@?]\D^W8_A73:;<6VHVL.H0HN94^]CYAZKGV-`%79JX&[R[8Y_A$KY'ZX MIUKI*DF:_/GW#>I)"#T%:E%`$2V\:*%0,JCH`Y`_G2^4OJ__`'V?\:DHH`C\ MI?5_^^S_`(T>4OJ__?9_QJ2B@!%`48&?Q.:6FNRHC.Q`51DD]A67#XDTR:RE MNQ.5BC?8=RD$GM@=\T`:U%48]6LI-0:Q2;-P,\;3@D#)`/3(':FOK>GIF.:Z/[=_TZW7_`'[I#>@D$VESD=#Y=`'-R^(; MP2S^5.K#RY6565,H5(`^4$D=_O5U=NDB0(LTOFN!R^T#/X"H!>@9Q:7(SR?W M?6E^W?\`3K=?]^Z`+=%5/MW_`$ZW7_?NC[=_TZW7_?N@"W153[=_TZW7_?NC M[=_TZW7_`'[H`MT54^W?].MU_P!^Z/MW_3K=?]^Z`+=%5/MW_3K=?]^Z/MW_ M`$ZW7_?N@"W153[=_P!.MU_W[H^W?].MU_W[H`MT54^W?].MU_W[H^W?].MU M_P!^Z`+=%5/MW_3K=?\`?NC[=_TZW7_?N@"W153[=_TZW7_?NC[=_P!.MU_W M[H`BUIKY-/D.GJK2X]3N_``')K)U&2"348H;BXAAU#Y&9S/A85!SA,X)9O3\ M_?;^W?\`3K=?]^Z/MW_3K=?]^Z`,/Q#,LMVN9[?R$@D*>8Q(:0'!48(^?TZX MYXI$>TN]6C2&Y\FZ!!F>28>9DKCRE'4^_P#CTW#>@XS:7)QS_JZ7[=_TZW7_ M`'[HL!SB2'1YE63$\,#G&#L7S-@SC.JQV%LZK(HF(_[X']XT`:E%M M9&J>);2TM6>!_,?'!P0!_GTKEK.QU+Q+=,\7F6=D/^6DA+''H#QN_05JP>`H M1.K7>H2SQK_`$VY_')H`S4\2:VL/VL6]R;7/^M*97&>O3%=;HNN6^J0+AU67 M'*YX;Z?X5HK!$MN(!&HA"[-F.-N,8QZ5Y_J>FMX8U7SA`;C2YCR,GY?;/8CM MZT`=M/J]E`75IPSIU5>23Z5E7^IM%&TM_?KIZ,,I;J-TI'KZUCIXTL((I$MM M*VE!F!F(.3V+=Q^9I^A>'?[4>34]>+/).=R1,VW(]3CG'H*`*#W5UKW^@:-9 MRQ02/^^G$])4/T84`.1%C1410J*,!0,`"G5"]S!']^9![9YJ'^TH.JB1AZA#B@" MY15/^TK?_;SZ;#FC[=QPL'SX/IG/6@#J*CN+B*U@>>>18XD&69N@KE'@U MW67$=WI\442Y8&Y8,H../E'>L>;4M7>ZCT>ZLXO-:14$<@)3';C.,>]`&]+X M]TQ"XC@N9,?=.T`-^N1^54SXRU.^Q'I>D$OZMNDX_`#%;Z>'K.(+Y2(K*<@^ M4N`?4#%6]M_'PKPRCU8$']*`*^EOJ5SI+G5+>)+EMP$8Z$=L]_//K77$SBTW6N:M;W4%T6 M\(NV-S#)F03`$H,D?*1P<9W$^_3-17#WIU1X8+[DJQ==BE(5Q\O_``(GU/X4`5;#3;XK:130O':+ M=--Y^00`!UYZ'%`%ZBJWV^U M^T1V_G#S9%W*N#R.H_D:;<:E9VTWE3SJC[=V#G@<]_P/'M0!;HJF-5LB(3]H M7]\<)P>N<<^G/'/>KE`!14-S=VUHH:YN(H5/0R.%S^=5&U[2P!B]C*:( M_P!U]N?T)JN_B:`'`C/U)./Y4`;M%Z#D]1(^?SS0!U[2(I`9U!/0$TU)HI&*I(C$=0K`XKE8_#,UQ(7NAO+= M6E.XGZDY)JZ/"EL%&!"&'=H=W]:`.@R.>1QU]JJ/JM@G6[A/^ZV[^59!\,;# MF)[0$Y#'[-CC\&J\NA6P0#>X;'+(%'/Y&@!RZ[9/=)`CLV[^/&%'YU-<:K:6 MX):3=CKMZ#\>E86OZ3_H/U-`&Z_B6%U+0O%M'?);/XCBIM/UF2_C:2&))57[P0\_A56X\ M$:/,^Y$FA_V8Y./US6%&9/#7B5[&.4102\Q22\J%/0'VR,9]J`.W%_;FW:8O MM"#+`]1^%9[ZU*RDPV9Y'RF20+^8IQL)6D:YU*>)409(C7:,#J23S69_PE?A M^-Y8XXV;RU)5S%PY`Z`GG\Q0!;*;U\R74[AKD]!"/E'L!WK'UM(KFT73=.E0 M3RR?OFF?YY".BX&3U[>U4['2-3\4-+JDEU]E7=B$`''T&#P!Z]S73^'_``S: MZ+^]W&>Z(P96&,>P':@#$/@_3V5,1ZBK!0'P!@GN1D5?T_P_IE@XDCTVXN'' M(:XPEL@^KTR5+N MXC:*6"V,;<%9/F!_"K]%`&4-%AD$8N%BVQ?ZM(XE4)].*M#3K0#'E`_4FK=% M`%=;*V7I`GXC-!LK8]8$_`8JQ10!`EG;Q_=A3ZD9J:EHH`****`"BBB@`HHH MH`S];TF'6=/:UF8IR&1P,E2._P#,?C5/0?#%IHK&56:>Y(QYK#&![#M6Y10` M4W:N\/M&X#`..<4ZB@`HHHH`:Z+(C(X#*PP0>XJA:Z+96MK-;JC-',*2?)9EG?&2,9V[L9I6T:R9YF9)3YQ)D7SWVL M3QG;G&?PXJ_10!G?V'8$+F-R1G3N.?F'`ZUH4M%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!7,RV%U+K%^@M,02PDMN8,DC?-M(ST.?Z^U=-10.Y@_8KI+Q,PDQ[ MXI3)N&%V)@KUSG/XMVPCF=$E3F.4)ROMUZ5L44` M>9:EJ&L:5:7&A7K;U8`(YY.S/8]P<8Y^E='!X,LYM(M8;@>7.@W/)&,,2>H) M[C_"NANM/M+R2*2YMTE>%MT98?=-6:`*]O;FUMXX(3&D<:A54(>`/QJ3$O\` M?3_O@_XU)10!'B7^^G_?!_QHQ+_?3_O@_P"-244`1XE_OI_WP?\`&C$O]]/^ M^#_C4E%`$>)?[Z?]\'_&C$O]]/\`O@_XU)10!'B7^^G_`'P?\:,2_P!]/^^# M_C4E%`$>)?[Z?]\'_&C$O]]/^^#_`(U)10!'B7^^G_?!_P`:,2_WT_[X/^-2 M44`1XE_OI_WP?\:,2_WT_P"^#_C4E%`$>)?[Z?\`?!_QHQ+_`'T_[X/^-244 M`1XE_OI_WP?\:,2_WT_[X/\`C4E%`$>)?[Z?]\'_`!HQ+_?3_O@_XU)10!'B M7^^G_?!_QHQ+_?3_`+X/^-244`1XE_OI_P!\'_&C$O\`?3_O@_XU)10`BYQ\ MQ!/L,4M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!112$A022`!U)H`6BDI:`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`*QO%@1M#E$D@09[@E2<'`/I_CBMFFR M(DL;1R*&1AAE/0B@:.5LYHOMUG.IAR5C1;=BY=%PWSJQ(!'?.#QZ4W7IU:YE MD68^87B\LHW6`J=Y&/X>N3]*ZPJIZ@=,4B1I&BHBA54;5`'0>E`CD2ZB5@C_ M`+M6/V##<$^8`=OK_A[5U=Q=6]I&)+F>*%" M+;YD\2;AE=S@9^E.$\)F,(EC,HY*!AN'X4`5?[:TK_H)V?\`W_7_`!H_MK2O M^@G9_P#?]?\`&KU%`%'^VM*_Z"=G_P!_U_QH_MK2O^@G9_\`?]?\:O44`4?[ M:TK_`*"=G_W_`%_QH_MK2O\`H)V?_?\`7_&KU1RS10*&FD2-2<`NP`SZ4`5? M[:TK_H)V?_?]?\:/[:TK_H)V?_?]?\:LR7$$1(DFC0@@'GYT+

HH`H_P!M:5_T$[/_`+_K_C1_;6E? M]!.S_P"_Z_XU>HH`H_VUI7_03L_^_P"O^-']M:5_T$[/_O\`K_C5J2:*)D62 M1$9SA0S`%C[>M(+F`R^4)HS)S\FX9XZ\4`5O[:TK_H)V?_?]?\:/[:TK_H)V M?_?]?\:MQ2QS)OBD21 M62=VS(..V=V/8UHZ7#-!JH7$Q9@3<>;"`J_*H!5\1Y"R"186D$0(P6PH/..!6M10!R]Q;G9YS032PN98U7RR MS<($3(QD9VGGWK2TZT8:@TTT(5H84B5MOWF(RYSW[#\*UJ*`"BBB@`HHHH`* M***`,76ECDNX(6MY3O`+SI"\FU0P.T;0<$D=>PK+2SFD>0/!,)KF43JZHM;U%`&+8Z8(+HHRR8>S M5)'W-R0>0#V_#UJ[HT1ATJWB9"A5<;2,$)]\S'TK2FU-8[XVBVUS,X" MEFC4%5!SC//L:X[PQX;U:PU^VN;JT\N%-^YO,0XRA`X!SU-=<=,235Y+V8!O MD01X8@@J3G(Z=Q0!:^VVI8*+F'+-M`\P/I3I/#4TD,<7F11C9M=HR02=Y;/3G@T` M:T.KVY]N.M8LVAWDUSW.*:=#OP\)V6KK;D;5:0_O`'+<_+QU]Z.P=S<&H6QDE M4RJ@CVY=F`4[AD8/>F:CJ*Z=&LCV\\J$X)B4';R`,Y(ZYK!?PU>8W!XF))_= MK(5`R".NT\#..G3TK;N;&232$LT==ZB,;F)P=I!/\J`)[>^@N$!#JCYVM&[# M#27E]%:6HN-KS*S*JB+#%B3@8YK`_X1Z^D,RR/`BRJ%+JW*_/NW*`H MQ^?XUHSZ1+<6<,4DH&TQ;X5;$0"D9V\9Z"@"[#J,#QEI3]F8`EHYV564>I&> ME3"XA+H@ECWN-RKN&6'J/6L2\\/EC,UL$'SQM&-Y#$*#D;B#CDY[]*AM/#MS M;WEO(SJ45D=B)#\FW/R@8YZ]9`DDC-@$@]5`[4/;0:W)K36+:Y5F=9+8*@D_T@!05/0YSC%6FO+5 M?O7,(^7=RX^[Z_2N=C\/WD4($4=M%A8U95E+>85/WLLGRGZ`]34EIX?N;:`, MZV\LR/&P4L<,%SE2=OOGIU%`C:AU&UFSB9%_>&-=S`;R/3UZU*UU;HF]YXE3 M&[<7`&/6N:/AV_V;0+1`SE\1L5"Y8''*DD<=.*DBTJ6YMKIHUW#S\0!R8R(P M2>,@XY8]1C`H`W+G4(+66UCD)_TI]D97D9QFDM=3M;IKA8Y`#;R&-]Q`Y&/T MYQ6?>:/=7%A8Q"2%9K92=P&%#A?EP`.F<>E4D\.WL#3^4T#BX"J[,Y&,;"3T MYR5;\Q1U#H=`]];B.1TD67R\;EC8$C/XT/?VR3"(RH3R&(883'][GBL==!G2 MW,:F!6:'82">6\S=GIZ52U#1+Q;<-Y%LP@1D#+DR3;FSD\?GU[T`=/\`:[;$ M9^T18E.(SO'SGV]:KR:K"EA'=K'+(DCA%1%!8DG'3-8UQH-_.[.HMHQ(Q?8K MX$?(.,[N@7$7V=T%N[0@%D)($AWD\G'H?S%`&M'J=O)';2*6"W)8(3CC`).?R M-/DU"TCMGN#<1&-,@E7!Y]/K[5G?V1<'3K.#,*O")-P!.WYE8#''^T*K2:!< M(Q:%+5QY0C\MB0N=FTMT[']*'U&NAN1WMM(H/G(I*!RK,`0#TR*2*_@EO)+5 M&S(@.?3C&1^&1^=<^GAR[1W&Z%P58;GD./F4+C;M[?7L.G;7TG2DL(U+JK3J MIC\T,3N7.Q06BW#[MK[= MJ@99B>@`]:Q_[-N_^>/_`(\/\:T;JTFEL+=8MHG@9)%#GY25Z@D?CS0!"VOP MJ_E_9+PR*"SH(QF,#')Y]QTS4HUJS,1EW/Y8;;NV''W-^?I@U6&EW%[?&YU( MJ(S&4$,,SC:"1P2,;AP(1Q`A02>22S0R1LZJ(P@C7+,S[N/\`QVM. MJ4NFPRW?VEFD#[D;`(Q\F<=O]HT`5CXALQ&)`D[)@%F6/(4GHI]S2/XAM(VV MM%<[U^^HCR8^0.>?4CIGK2'P]!L,:7-RD38+*K`;F'0DX[>G3@4]="@S(\DT MTDLN/,P'TH`'\0648B,GF(7SN5EP8\-M.[GU],TRZU.X36OL4< MEM&FU#^\5BS;B>F#CM3I]`M9I%??(IW,6X4[@6+8Y'')/(YQ5]+9([N6Y!;? M*JJ0>F%SC'YT`4GUVU18B$F=41PY3*X=AG!/&>_; MVH0,U:***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH '`****`/_V3\_ ` end GRAPHIC 8 tf1_a0415x184x1.jpg begin 644 tf1_a0415x184x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@# MO`+O`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**X;^U=._Y_\` M7O\`O\O^-']JZ=_S_P"O?]_E_P`:W]@SG]NCN:*X;^U=._Y_]>_[_+_C1_:N MG?\`/_KW_?Y?\:/8,/;H[FBN&_M73O\`G_U[_O\`+_C1_:NG?\_^O?\`?Y?\ M:/8,/;H[FBN&_M73O^?_`%[_`+_+_C1_:NG?\_\`KW_?Y?\`&CV##VZ.YHKA MO[5T[_G_`->_[_+_`(T?VKIW_/\`Z]_W^7_&CV##VZ.YHKAO[5T[_G_U[_O\ MO^-']JZ=_P`_^O?]_E_QH]@P]NCN:*X;^U=._P"?_7O^_P`O^-']JZ=_S_Z] M_P!_E_QH]@P]NCN:*X;^U=._Y_\`7O\`O\O^-']JZ=_S_P"O?]_E_P`:/8,/ M;H[FBN&_M73O^?\`U[_O\O\`C1_:NG?\_P#KW_?Y?\:/8,/;H[FBN&_M73O^ M?_7O^_R_XT?VKIW_`#_Z]_W^7_&CV##VZ.YHKAO[5T[_`)_]>_[_`"_XT?VK MIW_/_KW_`'^7_&CV##VZ.YHKAO[5T[_G_P!>_P"_R_XT?VKIW_/_`*]_W^7_ M`!H]@P]NCN:*X;^U=._Y_P#7O^_R_P"-']JZ=_S_`.O?]_E_QH]@P]NCN:*X M;^U=._Y_]>_[_+_C1_:NG?\`/_KW_?Y?\:/8,/;H[FBN&_M73O\`G_U[_O\` M+_C1_:NG?\_^O?\`?Y?\:/8,/;H[FBN&_M73O^?_`%[_`+_+_C1_:NG?\_\` MKW_?Y?\`&CV##VZ.YHKAO[5T[_G_`->_[_+_`(T?VKIW_/\`Z]_W^7_&CV## MVZ.YHKAO[5T[_G_U[_O\O^-']JZ=_P`_^O?]_E_QH]@P]NCN:*X;^U=._P"? M_7O^_P`O^-']JZ=_S_Z]_P!_E_QH]@P]NCN:*X;^U=._Y_\`7O\`O\O^-']J MZ=_S_P"O?]_E_P`:/8,/;H[FBN&_M73O^?\`U[_O\O\`C1_:NG?\_P#KW_?Y M?\:/8,/;H[FBN&_M73O^?_7O^_R_XT?VKIW_`#_Z]_W^7_&CV##VZ.YHKAO[ M5T[_`)_]>_[_`"_XT?VKIW_/_KW_`'^7_&CV##VZ.YHKAO[5T[_G_P!>_P"_ MR_XT?VKIW_/_`*]_W^7_`!H]@P]NCN:*X;^U=._Y_P#7O^_R_P"-']JZ=_S_ M`.O?]_E_QH]@P]NCN:*X;^U=._Y_]>_[_+_C1_:NG?\`/_KW_?Y?\:/8,/;H M[FBN&_M73O\`G_U[_O\`+_C1_:NG?\_^O?\`?Y?\:/8,/;H[FBN&_M73O^?_ M`%[_`+_+_C1_:NG?\_\`KW_?Y?\`&CV##VZ.YHKAO[5T[_G_`->_[_+_`(T? MVKIW_/\`Z]_W^7_&CV##VZ.YHKAO[5T[_G_U[_O\O^-']JZ=_P`_^O?]_E_Q MH]@P]NCN:*X;^U=._P"?_7O^_P`O^-']JZ=_S_Z]_P!_E_QH]@P]NCN:*X;^ MU=._Y_\`7O\`O\O^-']JZ=_S_P"O?]_E_P`:/8,/;H[FBN&_M73O^?\`U[_O M\O\`C1_:NG?\_P#KW_?Y?\:/8,/;H[FBN&_M73O^?_7O^_R_XT?VKIW_`#_Z M]_W^7_&CV##VZ.YHKAO[5T[_`)_]>_[_`"_XT?VKIW_/_KW_`'^7_&CV##VZ M.YHKAO[5T[_G_P!>_P"_R_XT?VKIW_/_`*]_W^7_`!H]@P]NCN:*X;^U=._Y M_P#7O^_R_P"-']JZ=_S_`.O?]_E_QH]@P]NCN:*X;^U=._Y_]>_[_+_C1_:N MG?\`/_KW_?Y?\:/8,/;H[FBN&_M73O\`G_U[_O\`+_C1_:NG?\_^O?\`?Y?\ M:/8,/;H[FBN&_M73O^?_`%[_`+_+_C1_:NG?\_\`KW_?Y?\`&CV##VZ.YHKA MO[5T[_G_`->_[_+_`(T?VKIW_/\`Z]_W^7_&CV##VZ.YHKAO[5T[_G_U[_O\ MO^-']JZ=_P`_^O?]_E_QH]@P]NCN:*X;^U=._P"?_7O^_P`O^-']JZ=_S_Z] M_P!_E_QH]@P]NCN:*X;^U=._Y_\`7O\`O\O^-']JZ=_S_P"O?]_E_P`:/8,/ M;H[FBN&_M73O^?\`U[_O\O\`C1_:NG?\_P#KW_?Y?\:/8,/;H[FBN&_M73O^ M?_7O^_R_XT?VKIW_`#_Z]_W^7_&CV##VZ.YHKAO[5T[_`)_]>_[_`"_XT?VK MIW_/_KW_`'^7_&CV##VZ.YHHHK`Z`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHJCJ-Z;=5BBYGD^[QG:/7_``H`L7%U#;C]XV#UP.M0B[FD&8;1V'^TVW^= M0K%%8P_:;L[I,]SGGV]3[_R%-M)KN_C\_P`WR(F^XJ*"2/4D@T`6#>F+_CX@ M>,=SU`^IJS'(DJ[D8,*H27$MIR\IE4=0P`/X8Q0Z!8EO-/8;2,E!]TCZ?T_K MU`-*BH;:=;F%9$[\$>A]*FH`****`"BBB@`HHHH`****`"BBB@`HHK+U[53I M-HLRQ^8=XW`=DR-Q_7]10!J45F7^N6M@8O,66031M(AC4-E0,GOZ5%<>)+&V M=0ZS$-$DVY4R`C$`$\^IH`V**RH/$%G/=+;J)0[/(G*\909;O5.]\31_89I; M%2\"M&)C'!+"N!,`,D@$]L>M`'045CS>);"%N1,R>4LQ=4RH1C@'KZFE_X2 M.P(D*L[*BNZL`,2!/O;>>W_ZJ`->BL67Q%$(+:6&TN66XF6--T>W=D9R,]>* MM:GK%MI>W[0)/F4L=JYP`0"3^8]Z`-"BLIO$%FM_]D*S!_,6+=L^7] M0KKOGZS:6UJH:VE:5&D9.I0?PG/KZB@#;HK!U?6I;'4?LS-';H\8,,LL99)' MY^4D$;>U&E>(1<7,MM=KMD$TJ1M&AVL$QGN><4`;U%8W_"36'V>>8B8+#L+? M*,X;H>O_`-?VI6\168D6(B:*5N`)8]NTDD+D$YP9? M#R94A,SD(0A4,1D#CI]:`-^BL"#Q&DM M_(6'EV"VOV@.Z$,?FQGKT_#-2_\`"3V)9$2.XDD(-3N--LX)[98R9)EC(E4G@_0BK6H:E!IL2-UP!AB_3//`Y%6IO$=C!*\ MBJFGW\>HP>=%',B<;3*A7<",Y'J.:MT`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`)6/IC?;KZ2[;E8T`4?%MT2\4$>6\M=YVGH> MW]?SK0M[P6ND6\A0`&,%5)P.ETBY^FV0_^RBMN@`HHHH`****`"BBB@`HHHH`****` M"J-WI5O>O*USF3S(_+`8*0@]5XX/_P!:KU&[9X+>)KFZ(MXGB0EESM88.?E].E)/X9M)U`>XN0!`EOP5^ZI M!'\/7(IKWU[:ZHNF6PAE6*W$S2W#L&(W8.3SD^]4!XJNC971U4%<`N,-VS42^$[-8I(_M-T1($#$LF3M M.0?NU0U#6KEK:WGD+1O;ZD89!;EL2*!G&,\_2HY-4N9I;Z<7.Y#IHE58G8*# MGMSP>V:7]?A>[AN) MXI4"*OERLH'S#)P#UYIO02UT&7>A2WNL2F9Y19R6RQ,X9=SD-D@]_P`JF7PO M8J'0/*(RDB(@(_=A_O8X_G5:?5I=+O8;6,>O.<9)H\_Z[!Z%X^'+8W7V@W%R M7,L'X+:]BN([B?$+N\<4/34%KH/O MM)2]\Y99Y!%.`'CPI''<9&0?>J]OX;M;:=)8I[D%'D=1N7`+C![>W%9ME>WU MO'I4=LPGFU"WW,;J5V"LJYSWZY_2I;7Q'=27RV\D,'^LGC)4D?ZL`CDGO0U8 M-RPOA.S6":'[3=%9E4.2R9.TY!^[UJ[)I*-J!O([B>)W01R!",.!TSD,X(S^O<>E=30!B0^%K&*(Q>;<.A@-OAF7[I;=V M'7-*?#-H^&EEG=_-$K-E1N(7:`>.F*VZ*`,.+PO:HC))<7$B&`VX5BHPF@K3HH`HZKID6JP1Q322HJ.)!Y9`.1 MTZ@U!U:M%`&1-X>MIQ=!Y[G_2MGF?, MO5<88<=>/I0V@Q$W0^U7(CNU_>H"N&;&"W3K^E:]%`$-K`MK:Q6Z,S+$@0%N MI`&.:FHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHJ*6=(F4/G+=.*`*FH2"XLI;=>&DS&">QSMS^=8UN);/3+ MN"<;,JZ@YX(R6&#[AF_[YJU/.'N)B0Q@5@X*Y!C..>H_'`R>O%+=!)X'4'?' M(P*]Q[[3]<'G'?UH`YN M'U**XM64N^X*V[MM.>A'M7366K6U_91Q7,ACEVX24\9]B?7^=,!VL&W^SJ8I M(P!V%5/"1-QJDUU&&*["KG^$#C'X\?SK.U.W;[0$#99R5#,A`Z$]_I6AX;D% MOI\ZQLXGE8!^,+&!GD'N3D__`*A0!H:A')?:E$T8'DHS$N>@`4@?J7_*MR"< M3*"`0<`D'M61NB6WS(Y2/R]@"G@$]<'J3T[=JEL+GR[EDD0HH&$'+'D\DG&# MGCG/:D!L451EU#R[JUA6VFD68H^5,>M7J`"BBB@`HHHH`****`"BBB@`J M%K6W:X%PT$1G48$A0;@/KUJ:B@"(VT#3&8P1F4KL+E!N*^F?2H!I.G!2HT^U M"D8($*X/?TJY10!6&GV0QBSMQA_,'[I?O?WNG7WIB:7I\8<)86J[QM;$*CO-6**`(6M;=K@7#01& M=1@2%!N`^O6C[);;I6^SQ;IAB0[!EQ[^M344`4QI6GB../[%;[(SN0>6,*?6 MK,L4O-6J*`*HTZR$7E?9(/+W;]IC!&?7%6:6B@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`(;B[MK4*;FXBA#'"F1PN3[9J(ZG8*B.U];!'R%8RKAL=<<\UG>*6/D6`1MK MB]B?.W=M`/+$>@JIJT=Q`--420O=?:VE+^60G.[!('L5'6@#I(Y8YHA+%(CQ ML,AU8$$?6HWO+:.V6Y>XB2!@")&RRF&2.4$;69O MF/`X7!."/6F6TWD>&]1TRY4[[8O$@`9MRD\8XYY)'X4`;\[6ZS(LNHF-Y>8T M,JC=]!WJO))IDL&Z358WBW;GS#_&H+>^AM=?UB5][!Q"J!5)+D`@@? MB:@:2,+XD\P,5D.%&TG=\FWCUYH`OW6FZ7(JVUQ=@&X.41G0%L_W>/Y54DT/ M0[']S/=^3E<[99E&1TSS3;*WN++5["T&9M.R\MM*>J`H?D/Y\?YQ;\6(@T6X M*IF:0Q+PN68*X./PY/YT`0VUEH5JA>+4D57S&&,ZI,7"9&-I&X_I53456_T^VLDE)G\Z M1TE$10-(`Q##TRS=_>@#5EL+%;M%EO9%N6!V*TX#$=\#T^E1P6VE3,RP:CYI M.2RKH8YI[9]RX.(Q\NT>V<,?QHT.R-U+]IDF"1VEW- M*J!"&.XGDG/3'M0!LP+:S1,]OJ+21Q\,8Y5(7ZXZ4MM?6`WM'J<.PK-\/WT,%O+$^\/)=3,/E/"Y+;CZ#`JMX;V/:V=O M>&4+-`00)XMB@X]P0V#]:WM*&W2;,8QB!./^`B@"W1110`4444`%%%O3W5I!,9%T\K'(D)8>9NR!T(SB@#IZ*Y>*ZUW[,\G[]VAN$&QX0IE1@,C[O M8GJ*75+K6K>Y:""5QMB0I)]GWB0\AB<+P@H6H';T5R@OM;>RN'5IA,KA0JV^['S]1 M\N""I]^F;2;IM0NKN*]A0W"*H M5K8MLVG*D?-U%`")J\LFMS6(\B/RG4".0D/(I&2R]N/3GO4:ZAJWVT6316OV M@6JW#8SC);!4<^QYJ2YT22ZOK::>Z#QVTPFC_=_O!T^7=G[N1GI5D:?*-=.H MFX0J8?)\KRSG&*X:9-L17@C[I^8Y&0I_#WJ+ M_A'[@:8EF+Z,;+CSP_V<]=V[&-WK0`^YU>[AL!=0Q07:B6%XEDC9B7=W)(C3717'[AM/\F&.U65GE9FW$=<[>=O;/I]#27>@7-;5)96FO(H9EA8.TC1M(JJI.0N,_CR.*G!R`:YY]$N MW@,;+:[O)FC+[CF1GQAF^7KQS4UIH\\&I+=%;HJM/HD]W>L;F."2)W+XE5-K'<"<@<#' MJ?QI]<\=#N"D;-Y#3-$ZSLK%"Q.W&.#T"]_RIMOH=RL@,\=O+\OROO9?+Z\; M0,'.>>W7CI0!T=4K];$21->1@M(WE(=I.[/.TX[?7BLQ=%FMUL6BC@#6ZKYF M#D,PQDXVYR<#D8/KD5>N8+F^AL)/*2)XYEFD1W/&`>!QSU]J`-$<#`I:YD:# M=Q.DD26I`+&2/<0)1YA8*?E]#6[9QR0Q+"T4:(B`+L2Q(-/9U5)F7]Y MNXP`>M(=CJ:*XW^VM0M)2TJHUP+2)G1RI.KW4<M:.B:K>ZG=S"18(H8@A9-IWY9`<9SC@^U"U!Z&Y1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`55EU"WAG:!V?S$0.P6)FPI[\#VJU M69+IK3ZR;J0CR1$BJ%D8''[AM/\F&.U65GE9FW$=<[>=O;/I]#27>@7-;5)96:SA M_D*YY'&3@X]N]'0?4Z2H8;F.>6:-,[H6V/D8YP#_`"-AR>IZGO1IFAW%E=PS.T+L MCDO)N.]E*!?3U&>M`&K/J-M;S/%(S[T3S&"Q,V%]>![&IH)TN%+1Y*<8;'#` MC.0>XYJC/:W@U.:Z@6!E>W$0#N0002V,$30LH<,I8]3L"G* MD8Y(/3D=C0@.E21)%+(P8`D9'J#@U%;WD=Q*\2AUD159E=2I`;./Y&LBRT$P M72/+;VC(@EQCJ2S[E.-O8<5`/#D[)$DHMRRQ1)YH))383N`R.00<4`=([I&` M78*"0,GU)P*=7-PZ'=&W*30VIQ]GP"Y(;R^#GY>XI'T"YE:+S!`=CYD)8_OQ MO#9/'7&1^)[4`=+4/VJ$W9M=Q\X)OV[3]W.,YZ5E:=97.DK+L@C=7=%5$;E1 MDY.<<@9XSS[]*?JFEW%Y/=-'Y.V6U\E=['(;=G)XZ4`;%%<]%HMS#>,WDVKV M[2%DCWD"'D'<`!UXZ%;(QGCL.U`#Z***`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*HW. MH&)[E88C*;:+S'`/))S@#\B?RJ]6?/IJRW%T23Y5W&$DP<%2,X(_`_I0!2'B M$M$TB0K(L<;3,ZL0&0$#*\=>O7TJ9M98SE8H5:,RM"C%N6=5W'Z`\C\*<=!M MF,C,[[ILB4C`W@XR,8XZ=O4^M22:6B3-/!GS-S2(A("JY7:6Z9Z?UH`)M3Q! M8S6\8E6\<*NY]N,J3GH?2HO[982B%K8"87*V\B^9P-PR&!QR,?2IAI,8M+*W M$TB"T(9&7')`(R<@^II/['ARK&68R"<3L^5R[`8&>.F.PQ3Z_P!?UW#H..I* M-4-B$.=A*N3P6&"5^N"#4NFW9O\`3X;HQB/S5W;0V['XX%5WT6W8HX>19TE, MOGJ%WDG/!..G.,5+8Z<+&.*)+F=XHEVJCE;=K;^3%O:>2':L MV6&W/S$8Z.]3+HL(929YV59VN`I*X#G M//3/>G1:0D5H+5;FX,2QF(`[<@'_`(#1T'U()-9DDM#)9VIDE$;%HB3O1U(! M4J!S]ZK-G>SS0VGG0>7--DNA!&T#J<'GKC\ZECL(8[\WB@B9H_+<]FZ0.LDFW`0D=@>3CZ58GTR&[FWW;&X09V1NHVKG'H,GIWJ%-$@AM MO(M9IK9#*93Y83DDYP&2&X8*&CF).2"*\N8P@P$781RG`&/_P!=6K6V2T@$4>2, MEB3U))))_,T`34444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!6)JL\L5[*XEC*P6_FHC`_>S[ M,/2MNBJB[.Y,E=6,"36[B)YXV>V9HT=E(4@$KMXQNST)_+O3;O4Y4\J1F1GA MN'3Y,A2/+)R1GG&?TKH,4M5SKL3R2[F`+PI=.RS12;KA<-DX_P!5G(^;IGM3 M4UBZ=X,O!A@KD*IYW(QV\GKD8_$?CT-%'.NP:1%>R.9Y9&C=E9/M9$+N`K'&`"1D#D@$=*I/X4LV5E6XN$WAPY!7)# M$$CIZBIAX=ME^TJ)I@EPFUQ\N02,$@XSR/PHZ`27>M01:6;^`-+$'"EBC*%! M(^8\9P,]J6'6[0PQ//-$IE)V&-BZE=P`.<<#)'6K$ED&M8($FDC\G&UAC)P, M8/&/PW:1312QNZ.A8M@+AMQR1C&![8Q1U#H3'7]-`D)G?$;;'/DOA6SC! M./6F_P!NVHO9H7<+'&J\[7W%BQ7`&WGD=LU(NCVXT^ZLF:1X[EW=RQ&06YXP M/6J]QX[`5E#`[&Z'.,\<$X/' M6K\$\=S"LL1)1NA*D?H:R[GP_#"RB341' M*(1:PJ5)&068$Y/Y"M>J[VD3SO*5!\Q-DBD9#CG&1^)_.@#G3JM\$N`9'B>V MB>7RV`)W`C"$XYX/;^\*M?;KR6[P)63?X-^8_(UL"RM0%'V>+" M'*Y4<'U_0?E1+:12%W"JDKKM,BJ-V/K0!F2ZI<36&GO;QXENUW-SC:`NX@9S MR>@ITMU,[:=6@7/UQ47]E:>&9A8VP M9CDD1*"><]<4`8LNJ7GV*-Q*RO'9&=B4`\R0,`01^?3UK7L)I9+Z^21V98W3 M8I`^4%02./>K+6MNXC#01D1_&LWPOETYK:#[6 MX5D/F'8%().>,YX_6@&;U%82ZS=7#QP0VT0DVR^=ND("[&"G:0.>O%-AU.]$ M&G)!%%,;F)&`>5C(!@;F;C&!Z]Z`-^BN9?Q4R;Y?LA>#,U?TV>\?6+V*\V+LBB*I&Y91G=R,_YXH!Z&O17,I?WX\0W4"[)&:3RH5:5 M@B`*&)(QUQ_.KD&L75UAM45@Z[J-VL M.H16:*HMH0TDA*'9&)>`SL5SD#U_E3FO;\WD<<9'G_;3&Z&4F,_NM`'2T5@1>(7>VU!VMU5[*/++OR&;+`C..GR_K41U2ZCU607)_<1W!"B-\ M8`A+8(QSZ_6@#I**P7UVYM[?SKBUB`EMFN(0DA/`P=K<=<$3.]O&+6XD:.(ASO!&<$C&,':?I5. M;6KV5+(21)!]J,4J&*0D[?,4%6X'4-0M0>AT]%95GJ[75W':^2!,&D$XW?ZL M*<`_CD5#JFOG3;B2%X-S*R%<-U0@EF_#::`-NBN677+TW>H7<,4;VD,:L%>0 MC*AG&5&.IQ^@JV_B!_[1:&.V+Q)*(FPKER3C+#"[<#/K0#T-ZBL:TU>YFNH! M);QK!/-)"C*Y+`INY(QT.TTW6==?39W1(XG6-`[`LQ8@GL`#CIU.*`-NBL@Z MM<&6>6.WC-I;R>7(QDP^0,D@=,#/3.347]L7JP0R26D/^E;/L^)>A8\!N,]. MU`'045AS:Y-"CQ21P)4V7)0_+N!``W'CMBF1:[=745O]FM8O,D MBDD;S'(`V-M..,\^^*`-^BN8A\1'R3)'&V^XF`02,S*@\M6/"@G'/05976KJ MZB6.VM52>HR*'H"-ZBL>#4)8-`T^;'G7$ZQ(N]L`LP') M-1MK%X)5M%MH#>>?Y+9D(C^YO#9QGIVIVUL'0W**S;Z^NXKV&UM887=XFE8R M.0!M(&.![U1;Q%*8WN(K5#;QVZ3R;G(;YL@*!CU'6D!T%%8$6OSM&Z-:J9BZ M)$1O5&+'&"64'CZ476N7=K*MM);1"YPS,0S.A48QC:"03GOTQ0!OT5S,FM7E M];Q3P0_9[<7443[G(D!W+N&,=.<5-!XD:6XR;8FW)<`JKEE"YY/R[<''8\<4 M`=!16'8WM[V4D M_<=VWD#&.-PHZV`V:*PHM8OIW1([6` M&>5XX2TAZ(3N+<>W`%0KXCG\]4DM8X5#^6[.S;68,5;:V,<=><9S0!T=%8<> MN3KMFN+>-;5Y9(E*.2X*[N2,=#M-00>)G:&2:6T.SR3*FP/P>,*Q*@9.1R,C MK0!T=%8%YJ&K0SVJ/%;IF;YMDF0Z[&..F1T/Z>]3?VU*8('BM/-DFLS5NA.#L8CMGD,`5_&LZ/Q-(4G9H(FV6[3I MY;-C@CY22`#UZC(H`Z2BL-M9NHGD@FMHOM.Z(1A9#L/F$@9.,\8-5K:_NS?S MQW+E3!/)+(L;$@(L:\#V)8'%`'2T5SL^OWENEL9+.$M>!6@`E/&2HPW'^T.E M:5_>7%EI\X9TC*!R%W,0.N,XY]*`-"BL-]8O!*+1;:`WGG^2V9"$^YO M#9QGIVJ.37KM+=+H6*R0SLT<*(Y+EAG&1CH=IZ>2 M;ROOLH7Y2V2"-PZ'C%,E\22`1Q);H+CY_,!WLH*MMP-JD\GO0!T5%8L>L75T MV;2S7$<:22K,^QAN_A'&.`.IJ+2M6NWE>&[6-C^_<,K=`C@8Z>_Z4`;]%<^? M$$P-HS6\<<4\<;[I&8!BW4!L8&/@&S17,IXENI(PR6!?>@ M=2BR$1C(^]\O/!S\N>E20ZU+6+I=42SNX(82S!/O,-W&=RDK@C/& M,YH`VZ*R=:U6;37CV0*8V4LTLF[;D?PY`."?4\53@U2[CN[F0K'+:&[2+)D) M9=RKC;QC`)S^-"U!Z'145SMSXBN+:S^W-:QFUD9TB_>'?E7=]IT@18K2:>15VN=S!58?,,8Z MC/X5OT`%%%%`!1110`4444`%%%%`$,EM#+/%.Z9DASL.3QD8/%5[C2+.XE>9 MXW65V#%XY&0Y`P",'C@D4:A>2V\EO;VT://<,0OF,0J@#))Q69?>(9[,?O+> M$/&@>2,2%R>2#C:#CIG+8H`T$T+3HXVC2!@CQF-AYKX9222#SSR3S[U)<:59 MW,IF>-A-@`2)(RL,9Q@@\=3^=93>(;E8TR;RA'MDCTSZT;@=##IEI!L\J':41D!W$\,SLSPLRMN/EM(Q0%NI"YP"<]14 MUEIMM8O))")#)(`'>21G)`Z=2>F:9J%Y+;R6UO;QH\]PQ"[V(50!DDXJB^LW M@6=A9Q#['&'N`9>O7A2!Z#//TH`O3:39S.\C1LLCN)#(DC*P8#&00>...*DM M].M;9HVABVM&K(IW$\,03G)Y)(ZGFLR37+E9))([5'MHYTA^^0[%@""!C'\0 M[U`FN2W*!)D$4@EARB.R.NYP"&#`'\N#0@9K7ND6=](7N$DC*0^-N00?2B^O);'31/*L/G?*I&\A`2<=<9/Y M9-0Z9J']-D4(87";=C*LKJ'&2?FP M?FY)//K4YTJS-T;DQ$RD[CEVQG;MSMSCIQTK*T+4+A;2V6Y)E>>"2Y+M(3T( M&.>G7I2VGB"ZN8X[@VD2VYECB;]X=V7"G(&.VX4>0&@FB6"(Z>4[*Z&/#RLV MU#_"N3\H^E6TMHH[AYU3$CJJLV3R!G'\S6(=0O+V[L&4+#:SS2(I60[B`K#Y MACU&?;%26^IW%MJ$.G7"KA2(A)*6#R_+]\$C:<=:L2ZW<+J!MO(CB#<1^<64O\N0P.,$9XQG-#`OKI-BL$D*P8CDB6%E MW'E!G`Z^YYI'TFS>Z\]HVW%@Y42-L9AT8KG!(Q6):Z]J*:>LDEO#-Y4$RO97DG1SYBA9%65E#@=,@'G%4$UN\G6%;>S197CDD<2L MR@;"!QQDYSQTJ73-1NK[5"<(MJ]I%,J9Y4MGV]OT%`%MM(LGN?/:-B20Q7>V MPL!@,5S@GWJ-="T]5*^4Y&`%W2L3&`<@*<_+SZ54O-=GM_.G6WC:T@N!`Y+D M/GC)`QC'-*NMW$4:R75O"BS6[3P[9>PP=K$CCJ.:`\B[#H]E"698F+NK([M( MS,P;&>M9DFN7%Q!(JJ!)#-`Q'H7=+,[,H*N0%W!>/;.`,4`:8T2P6`0QQ-& MJL'5DD8,I"A<@YR.!BE?1;%XHX_+=`@(!25E8@\L"0M-U"\EMY+>W MMHT>>X8A?,8A5`&23BLB35=1@NKN-Y8C-D+RP.W`ZG'Z4`:=]I*7V MH0SRNX2.)DVH[(221W!'&`1^-3C3;,)(@@7;)&L3+S@H,X&/Q-9=[XA>VOC$ M(HGC618R`S%N<)_"CH'4OK MHUD(I(RDC^9C+O*S/\O*X8G(QVQ33H=B54!958$DR+,X=LXSE@865F&,[AQM//&,YHZ M@3C0M/$B.L+*$96"+(P3O26=]);PV_F^2BLXPY+9 M[+A2,X]:`+EAI[6]Y=WDQC,]RP_U8(`4#`Z]_6B31K*2X,SQN6,@EVB5@N\? MQ;0<9X%5FUF4:H;$6Z[]OG!B^/W>/3KNSQC\:IR>);BVM[62YM(P;U`T`1V; M!XX;C/0YXSZ4`;EY8PWH3S=X:,Y1XW*,O8X(.:JR:!ITB!#"X0((RJRNH90< M@-@\\D]:J1:W=3+%'':IY\DYB!W3%,F\07$=K#-]E1`=XD=RQ M0,K;=N0#C."0YR MW?N165)XD?[4ZPVOG1(XC(3<68D#D$#;@9]:MZ-JTFH2RQ3QQQ2(H8H"P9<] M00P!X]1Q0!8ETBRF50T1!5%165V!4*VC(G8-\[R,V2< M9SD_[(K/74KNUO+YW59+1+M8B2YW+N"C@8Q@$Y_$U3O?$MR]K<-:P`*5D5'` M?)HGPP*G(Y'<9`.#]*R=.UR MZ>U@D-NIMU>*!G>4F0EU7GIS]X?6CK8.ER_I^B06I,DN99?,D<9=BHW$]%)P M#@XS4L6B6$2NHB9U9#'MDD9@J'JJ@G@?2J,OB,PQ,6M\RPB0SH&^YM.!^9(_ M"FIKUTUO.WV/?)'L(9$DV8)Y."N[CO@4#+ZZ+8@#*2.P987;>=YR`<@8QQD4?U^@C3MM.M[:.5$5W\[ M_6-(Y=GXQR2<]*@30=/56!BD<-&8?GF=L(?X1D\#BH]/U.ZN+R"*XMXHTN+< MSH4:?X@O#::<0DACEG81(P&2N>I_`9-#T!%B?3;2X,ADB):0*&8 M,0?E)*XYX()ZBF6>D6=E+-+#&Q>88D:1VA_$8/XU4&OW,5FMQ<6L0\VU:XB"2$],<-Q[B@#0CT/3XV5O*=MA&S?*S;,$ M$!8CGDC(#`D9'3I6>^KW\:W!:UMR;2,23@2GD')` M7CK@=^]*==E74?(:!(XF/R>865G&W(8'&T^F,YH`T(=,M(/+*QL7CH&@". MS8/'#<9Z'/&?2K$.N7$XCACME%U)*8U+[EC("[BW(S[8QUH`EGT"W=X"CRC9 M+YDCF5S(WRD#YLY&,U8?1K)HHHQ&\8B!"M'*RM@\D$@Y.>^:S/[7U"+4RL\, M0C*PJ8Q)G:6]-DT*PD8MYUM_M,S?NV$IV8`R<\9R.G3FA@3G0[`E M,1.JHJIL$K!6"_=##/S8]ZNQ0I$&";L,Q8Y8GD]>O3Z5@#Q%=.MTR6<6+):'UB\M[J\63R"@N!'%O8_*-@;H!D_AW/I0!JQZ/81P20)!B M.2,1.N]N5&<#K[FI38VQO/M9A4S^7Y6\_P!WTK$_MYVA2\\I@5M9G,>\A24< M#H1G_"I+C7+ZVD>&6SB#KM9I%+NB*P.,X7/5<=,4`71H&G@8\N0[>(R9G)BY MS\AS\O/I4L6D641C98V+1ECN,C$MN^]NY^;.!US4%W?S/X:EOK8QK+Y!<%6W M!3CG!QS5"SU/4(9IFN$BDA^U1Q-^\.5+*@^48Z`G/XFCK8.ES3CT/3XV5O*= MMA&S?*S;,$$!7=+,S$95R`N0#CVSP*TM2U(VEM!)'Y1,Q`!=B0.,\!02WX4>8>1->:;;7S MJ\RN&"E,I(R%E/53@C(]J4:99JA180%,BRD!C]Y<8/7MM''M67%KMU=16_V: MUB\R2*21O,<@#8VTXXSS[XJ&_P!:NKK2[F2QB6-4M4E=VD(92XR-N!V%`;Z& MHVAZ>SN7A9E;=^[,C%%+?>(7.`3GM2Q:+8Q;B(Y'9F1F:25V)*'*\D]J6]O) MH&M8+>-'GN"0ID8A0`,DG%86IZQ?R1$P[8-L$XD"N8VU" M@HL][^E'D'F;]%%%`!1110`4444`%%%% M`%>\LH;U%68,"AW(Z.593TR".:IMX?TUE*>2X1EVNBRN`X[;L'D\GDTSQ!J# M::EO.JL^&<[0^T-A&.#Z]*HZIJ>H_8[F#9'!.C0G?'(?NNV,`XSGC%`S7?2; M-K9(`CHJ.9$*2,&5B220V<]S2?V/8&-8S;@JJ.@RQ.0WWL\\D^IYJC:ZQ<+# M;22P)]FF9HHV\TL^5!Y;([[34:ZWJ+PPN+.V!FMVN0#*W"#'!^7JO M+*&]15F#`H=R.CE64],@CFJK:%IY"J(650NUE61@'&M4(-:N?L`D M@@61+:VCEG,LIWMEYDDBC(GQLI$3ML(*!Y681X(("Y/`R M!Q5"T\1R31O));*$\DS(<% M=QQ@]`:-@W-J[M(;V'RIP2`P8%6*E2.A!'0TVTL+>R21($8"5MSEG9BQQC)) M)]*Q6\2N4A6**%Y65V8@NRX4XQPI()]P,5H7.J2)I,%Y#;_O)FC412DK@L0. M>.V:`'R:+8R0PQ>6ZI"I1-DK*=IZJ2#DCZT^+2;&&#R(X-L>]9,;V/S+C:>O M^R/RK,'B"<7OD/:JPCE6&3RP['=QD@[<8&>YS45SXI:VG8-!')&6=%$;$D$9 MQEL;><=CQ0!K1Z191W:W*QOO1BZ#S&VH3G)"YP,Y]*=_95I]K^T['W[_`#-O MF-LW_P![;G&??%5=-GO'UB]BO-B[(HBJ1N649W*K07UV_B=[5&_T<,^ MX.^>BITXX^]TSW-"WL#->ZL+:[8FXBWDQM$?F(^4XR.#["F7.EV5V)A/`'$R MJKY8\A3D=_>J]QJ%U]MF@M+>.1;=5:4O)M)W=E[=!WJK'X@=M16`Q1&-V=5* M,Q*E03R<;><=`>*!FA..*P_$&JW'E2K`[0F&>2+Q"6_F?TK2 M75W^UBR,(^T>>$`W=8RN[?\`EG\:-P>A M:(-.M;:5)(8RC1Q"%<.V-@Z`C.#]35+4;B]CUFWCLPC@V\C,DCE5X*\\#KV_ M&J5KXJ-Y(CP6I,)=8V&'+Y.,GA=N!GU[4+4&6+K0GNM1\UVB$!F68@;@3C'! M7.T].N,XJXFAZ>J.AB9U=/+P\C-M7^ZN3\H^E8^EZCJ3W-U$JQS3L\C_`+R9 MMBJK;<`8XY_ES5AO$XBM4-O%;I/)N<[OFR`H`'J.M'0?4T!HEAAP\3RF M0J7:25V+;3EWS`'(JG!JMWM2&VA61V\^0M/*>`DF,<#W_"C86YMRV\4TL4DBY>%BR' M)X)!'\B:IR:+8R*!Y;IC=G9*RE@QRP.#R">U5/[?)C7%N!)/%%);H6^_O."/ MP/Z57'B:=V9H+%IT)=45`^[*YP3\N,''8F@#6.D6!&/LXQOW\,1SMV^O3`QC MI40T2U2-EA:9&.U0YE9BJ@@[5R>!Q6>O-4Y=9N!,SQ6\1MEN5MF9G(?)(!.,8QS M6U0!G2Z)832M(\;GRO97DG1SYBA9%65E#@=,@'G%2G3K4AP8N'E69OF/+K MC!Z^PJU10!0CTBRCNUN5C?>C%T'F-M0G.2%S@9SZ4Z[TJTO)O-F1]Q4*X61E M#@=`P!Y'UJ[10!1DTFS=F<0XE+[P^XY#8QUSTQQCI56S\/6<-E'#.K2R+&J% MS(WRXP?EY^7D9XK8HH`I0:7:0&-EC9G1S('=V9BQ&TDDGGCCFHY-%L9%`\MT MQNSLE92P8Y8'!Y!/:M&B@#.?1-/>3U7**`*)TBR:[-R8W,C.)&'F-M9AT)7.,C'I4;:'I[L MY>)F5]W[LR-L!;.XA]9,;V/S+C:>O\`LC\JNT4`5&TVS:2YD:!2UTH68G/S@#`J$:+9 M")T*RL6*GS&F8N-OW<,3D8]JT:*`,UM"T]XA&\+L!NR3*^6W?>W'.3G`ZU-) MIMK)'*AB'[R02MDDY<8P>OL..E7**`,/3=":WN6EN'3;Y!@58G?H3R>3\O3@ M+TK5:T@:6"1D)>`$1DL3MR,'Z\>M3T4`5_L<*R7$L:[9;A0';)YP,#CI5&QT M"TM[%8)E:9C"(7+2,1CN%R?E!//%:U%`%&ZTFSNY?,FC;)4*P61E#@=`P!Y' MUILFCV;S-,$8.3OV^8VS?C&[;G&??%:%%`&/9^'K.&RCAG5I9%C5"YD;Y<8/ MR\_+R,\58_L:S\D1[9-P?S/-\UO,W8QG=G/3BM"B@#-;0M.90ODLN%"Y65QT M.X'KUR/&]ONL<>]:5%`%:[LH+Q$64,#&M"B@"I/IMI<&0RQ9:0*&(8@_*25Q@\$$]1 M3;72[2TF$T4;&;!!D=V9FSC.23ST'Y5=HH`****`"BBB@`HHHH`****`*U[8 M6U^BI=1>8JYP-Q'4$'H?0FFS:;:3L[2Q;B^P-\Q&=ARO?L:EGNK>U"FXGBA# M=/,<+G\Z6"Y@N5+6\\I"YP"<]JD M73;15C41<1PF!?F/"'&1U]ASUJRSHK*K,H+G"@GJ?:G4`49=(LIE4-$05145 ME=@5"G*X.>H]::-%L!'L$3X,GFD^<^XOC&ON:MT4`9\ M^FE]#DTY9B2T13S'R>O>B/1K)(BC1M)N96)DD9B=IRHR3G`].E:%%`&:FAZ> MJ.AB=T9/+"O(S!%]%R?E'':E&AV.V3*2L\FTM(TSE\K]TYSD$9[5HT4`9QT2 MQ**H6564D^8LSAVS][+`Y.<=ZLM96[6\5N8@(HBI102`"IR/Y58HH`HR:39R M71N&1MQ8.RB1@C,.C%%W4%BJ-*Y5=V:9;7TB23+)O12H9)60X/4<$<'%1C1;!9ED6$J%*GRU=@A(Q@E/Q'YT`0V>GV]D7:(.7?`9Y)&=B!T&23P*2+3;2) MPT<6&`=0=QZ.=S=^YJU2T`5!IEFK6K"`9M%VP$D_(,8_'CUJ!]"T^1G,D+,K M$GRS(VQ2>I"YP#[BM*B@#/31K),';*SB02>8TSE]P&!\V<]#C'2G+I%BLGK5P.A32T`%% M%%`!130Z%R@92Z@$KGD`]*:)HC,81(AE`W%-PW`>N*`)****`"BBB@`HHHH` M****`"BFHZ2+NC96&2,J<\CK3J`"BBB@`HHHH`****`"BBB@`HHHH`**8LB, M6"NI*G:0#T/7%/H`***:[I&`795!(`)..3T%`#J***`"BFLZ*RJS*"YPH)ZG MVH5U?.Q@V#@X.<'TH`=1110`4444`%%%-1TD7=&RL,D94YY'6@!U%-=TC`+L MJ@D`$G')Z"G4`%%%%`!1110`4444`%%%%`!1110`4444`9VO0Q2Z->-)&CE( M'*EE!VG:>E8EQ-[>*-5`G!WF.63&5_=MD#-9,VIWPAMHY+ORXP)@9FE6(NRN5&25()P,X[ MUV%(5###`'OS0!QMK>S!%:YO/LHN+T">5/ES^Y4_Q#C)QVK72^O!X9N+J-C+ M-'O\J0KRZ@D!L?3GWK5GM8KB2&249,+%E],D$<_@34U`')0ZA>O!*D=]N0RP M*)$D$K(6;#?-M`Z=NU275Y=01RP&_(6&[,8:201LZ[`P&_:0#D]\9Z5U(4*, M*`![4,H888`CT-`')OKLL=A8%5F?+`D#OT'2FO>7Z6D-PU[) MLN+F2-V:18UC"E@H#;3C..I]*Z[`)!P,CH:"`P(8`@]0:`,S29;F\T3,DP,K M!U25><\D`YP,_7`NM:M.P6/<&N`(HQM'RO'@R'\?F_*NRI:.H',^'=0N[ MF\19;E9E>$O*GF!RC9'8*-G<8)_E2ZQ?R0ZC=H-0>!XK='MX1M_>.2W&",GH M!CWKI`H!)``SR<=ZA6UB6[DN0O[V154D^@SC^9H`YN"ZNV@MYKS49H(KF>1) M7RJK$%+;5!QQDCJ?2G'5+^&SAG61YTG,EM$Q4?,V[]V_XC-=00&!#`$'L:*` M.8-S-#.\$]X8(/M>R6Y&U3Q$I&3C`R>_X5DVFI7D4#)%>!$3<\+-(%\TF1LG M;M)?Z"N](###`$'L:"H)!(!(Z>U`%#59;B'3/M,)(DAVRNH'WE'WA^6:QOM\ M\K1R7E^]E;7"23Q,-J]P%7)']WG'?-=%>6J7ENT$CR*C?>V-M)'IGTJ18T5% M0*`JX"C'3'2@#E;37+EK54NK@1WDEW"HB(`;8P3/'H>?SK5\0W=S80PW-N6( MRT;(!G)8?*?^^L?G6O@9S@9Z9I:`./MKN_N[VVBN)6'DN]LY"C+2!')8<<<; M?SJIIQDCL+BZMKZ4/;6,3X4J06!?Y3QT'3%=W10!FZU<2P:>CI(85:1%EE`' M[M">3ST^O:L2SUDPW]PLVI>;:*)5BDG`%`'(WNM7:6<4BW;K,EI%)AG5`S$9)Q@E_IP!1>,\EYK,:M@-#,^ M5`SPD7?TKM,`D'`R.AI:`1S=C=W7VZ#3H[EYHV*W"S\',.WE<@8^\,?0T_Q+ M>S6LT7EW?DJ(V;8'$;,1CD%@0W^[D&MB*SBBNY;H%VED`7+MG:!V'H*L%0V, M@'!R,T,%HA\1W_R)$K02.1'YQR>=NTE^@&!]>]=B0&!#`$'L:"H) M!(!(Z>U`$4%PDQ9`ZF6/`D4'[I(SBN7BU:>75$07+-',\R-&[KD`!L?(!E>@ MZG)KJTB1'=U7#2$%CZX&*<``20`">OO2>H+0Y[P9_P`@V;_?3_T4E5SJDD<$ ML\FHRB[_`'H>U5%?RP"<IIO4%H<5;WTUQJT4$D_G1 MQON0^:LN"8I,_,`!V'':GQZA/:Q:>%NR$6W@Q"C!6YZ_*P^?/L>*[(`*`%`` M'84%02"0"1T/I0!AZJ6BUZSE65@_V>;RX\@!V&TA??/]*CT:]DFO;9$OFNQ+ M;F2X4X/DOQ@<#Y>I&#Z5T-(`!G``SR?>A:`SEK[5IX]:VQW+*%NDA,;.H^4X MS\F"2.?O$BHKJ_U*WM$NXKN61Y9IXO+*@JJKNP0,=1MS778&[=@9Z9I:.@&! MH3Q/K-^8;TWB"*']X6#?WN,BJ!BF_P"$BN4BO)XO/NQ&[)MSM\K=@$CV`KK0 M`HPH`'H*6@#E[?4+@RP'[:\ET\DB3VIVXB4!L'&,C&%Y[YJ!9K\V@D.I7.XZ M=]K/W?OCH.G3VKKL`$G`R>II:!F-J5W(L>GB2Y-K!.?WTZD+CY<@9/`R:HV^ ML2PF)[N[`@,4XCD?"^:58!#[DC/3K73$!@0P!![&@@'&0#CD4,2,#19KJ]NX M7FNY=L=I#(8Q@!V8-DGCVJO%$@1AD?+P#&0#C/.X$UU%)M M&[=@9QC-#U8(XVWU:_-G<2"\5W^R-(X\P.8W&,'`4;.XVD_RK0N)+^RNHK!; MJ:8WH7RIG`)C(/S]!_=Y%=$%`)(`&>3CO2T`OMCCN+XV-N?M#"5`J[G$ MA`'(].<=Z8NJW[ZB`;D*PFC1(G;9O0@<^7M+([^2WGBBCN&AS$S_`.L6,$C&/F())_V0*I_;]1GMI;N.YDWPV,4P MC0#:SL&R2,=L9Q75D`XR`<7HBMA?2*K7K1>9&ZNVP1 M[L;MN#SWQ76$`@@@$'J#10'0Y;3-1OI=5B26X4LTKI+`9`2JC./D"Y7&!R3@ M_C4^LW%XEU?-!>2PBVAB=$4+@EF(.QHH`XA+N>XMK:\EFV2"Z!RH50S&`$9X[GC\?I5HZG<)9O);:B]Q(UF\ MLV=I\B08QT'R\DC!]*ZZD``S@`9Y/O0!R6HWE_973P"_8>7$KQ--(JF1B3GY M0IW\\8%+?73S7(6ZO#'.M]"J6F0`4RISC&?4Y_"NL*@D$@$CI[48&[=@9Z9H M6X=#`\1W\EO/%%'<-#F)G_UBQ@D8Q\Q!)/\`L@53:_OI[.:Z%[)&T%C#.%0+ MM9R&SGCIQTKJR`<9`..1[4M`SCTO]U[87%U>LTZ2S-+;$C$05'QQU''KUS2_ M:9[2WE66]:UG2%9X8AC]](^6;@C+<\8%=:54YRH^;KQUI2H)!(!(Z>U`C)TE MKFXOKV:>XDQ%((U@XV+\BD]LYR3WK.U"ZOHSJ%Q'=R!8KE8`N558T(4ELX.# MSU[9KJ*3K0!R%OJ5Q),T-WJGV>T4.T5PD@;G4G`X`[YZ=Z`+=%4 MEU:Q:*67[2@CBY=CD#'J,]1P>14L-Y!/,\43,S)]X^6VT=#C=C&>1QF@"Q15 M6"_M[C/EL^T?Q-&RJ><<,1@_A4_FQYQO7KCKWH`?15634+6,9:7K)Y6`I)W> MF`*G,J!&8'<%&3M&X_D*`'T56MK^WNU+0NV`2,O&R8U,>^MH_-WS*OE`%\]L]*`+%%-WKDC<, MCKSTI!)&1PZ],]>U`#Z*;O3CYEY&1SV]:02QE=PD4KSSGB@!]%123Q1R1QNX M#RG:@]3@G^0-2T`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`444E`"T50_MBSRPW395@A'V>3( M8]!]WKR.*GCO;>29(1)B5U+B-E*M@=R#R/QH`L45##=03S3112*TD)"R*/X2 M1FH/[6L=DC_:%"QD!B01U.!CU&01D>E`%VBJLFH6D<_D/.JR[MNT]]`$U%%%`!1110`4444`9VJ:8;]HI(I_(EBSM? M8'X/L?I3)-*E-A':1W2!`Q:8/$2)E:E%`&3!HOEVTT+SJP>#R$Q M'C8OS8/7D_-[=*?::3]FU!KH2)R&!"1[6;./O'/.,<<=ZTZ*`,E-"MUAB0X8 MK+YCEER'Y)QC/O5%?"@\V5Y;I'WQL@'D]"<_-][KS[5TE%`&!<>&O.E=Q>;1 M),LK`QY^ZV0!SQU-7M,TI-.=F1P=T:J<)C)!8Y_\>_2M&B@#G;WPO]K`'VTI MRY^YTW.7XYZ\XI;GPXJV\GV;RRYXV^6`",(,'GI\I/XUT-%"T`YNZ\*FY9&^ MV!"`X*B([1N)/`W<8SQ3[GPSY[7&+I%$_3,7=Q(L?S`L5/KV`(_&MRBCS#8Y MJ7PDC3EX[H*@)*HR$XZ<'YAD#'%6&\-J\#1231L#OP?(`P64+G&<<8S^-;M% M`'.CPLJWLLZ76Q'9F"+'C;E2,#G&.?2DF\*HTK/%-$BD`;3#TPH'4,/3/XUT M=%`%&2QEETMK)[A1N41[TCV_+P",9ZD9Z>O2J=MX?%M>"5+IC$KAUC9,D=21 MG/9)E9;A9RNWT4#'7VZU. M+%$N8)8\((49`N,YSCO[8JW10!EZ?H_V&Z^T+:!NO77RT$<6R,8`!)R0`.!D]<9/UJ]10`4444`?_9 ` end GRAPHIC 9 tf1_a0415x18x1.jpg begin 644 tf1_a0415x18x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M-P*N`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`K/UO43I6F27*H)'!"HIZ%B<#-:%4]5T^+5+"2TE8J'P0R] M5(Y!H8T91VDL:0-(LD>0%8?PD$Y(J5_$<-M:6\MU#.S20I+(T M,1*1[O4_7ZU&=!O;F.<7^K/,9(3"@6/:H!_B*@\FJ]]X3>[\M?MJ[%MUA^>' M=MVCJO/&:/Z_/_@"_K\C1'B&R:_^R1K/(P8*SI'E5)Z9[_I2VFOVEY>FV@2= ML,4\WR_D)'7GM^-9]QX5>>_BN&O$`0HVY8`L@VXX#`_SR:?!X9>/6UU!KI#L M"*T(]0@?2EU#.( M3%YI]AC-4;SP[;:CJCW=^QGC\L)'$-R;/4Y!YS20Z&UMH-UIB7'F(^_R3GGO1T'U1--JTD$ENLMF5678"?,&0S'&%'\6.])<:TL&XFWD,_C4ATLMI<5HTV&6196 M?;G>/,GUSCM0@-6YE,%N\JQ/*RC(1!RQ]!6>-88+(DEJ1<1S+$8U M?<#N&>#CG`R<8[4]]'B1&:SDD@N""$D:1Y`N>^TM@U':Z3/!Y(:XA(AWLI2$ M@ER,;FRQW'D]^]`#'UUX5D%Q9-%*JHZH9!C#-@;C_#[U+!K"S10.(6S(T@8* M=V`FPQCM4^F:2UE<-- M)*KDAL*B;50LV6P,G`X'Y4`5F\2Q[(2(%1I6D`6>98L;&QSGN?2M2WN_-N9K M=TV21!6QG.Y2.#^8(_"J#:/<+#)%#=QA93*'#P!N';/'.QLVAU"6 M4@B-(8[>/)Y8+DD_KC\*$#-&BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`*Y+4?$D]OXC$:3QBP@D2&9#MRQ;.6'?`XKK*QQX8TPVX;'%'4.@VX\11P2W$#6S&XBG2%(PP_>;NA'MC-00^+;:6_^SB' M$;.T:2>:I)8>J]0#V-7AH-I_:%K?,TKSVT8C4L1\V!@%N.3S44/ARV@NS-'/ M<+&69Q"&`4,>O;)'L:`*T?B:633A??V:4A=@L;/<(H;KG)/3&*6'Q0+J*U^R M6,DUQ/O/E"11M"]3N/!]JL2>'+9K"SM$GG06C;HI`5+?CQCOZ5G7WAV6U6V_ MLQ9YC&SDN+@1RC=VSC&/UH8$C^,(!:6\J6W[R8.VQYE0*JG'4\9/I6J=7@.A M'55SY7E&0`]<^GY\5EV/A91I=I'<320W<(8%X2#PQR5Y'/UK4N=&M[K38K"2 M2;R8RI/SY+X[,2.:&N@=3#T/Q'.X/\ZNQ^)\ MK,9K"2';:_:HP9`=Z?ATJ>Z\,Z=/)OCC-KF-HF%N%0,K>HQ3Y/#]I(,-)-_Q MZ?9.&'W/7IU_SBA_U^/_```_K^OQ*L?B?*S&:PDAVVOVJ,&0'>GX=*?/XD6+ M8%M6V]O9K(TFIWE[$)DB`2(1KC)Y_STI--\27& MI:VL,-JPM?(+,"5W*P."3^/&/QK0GT""2*T6*XN();2/RXYHV`;;C&#Q@U'! MX9L[:>*2"6=`L1B=0P_>@Y)W<=,8[T0^$K.-"INKIE\IH0"5X1O^`]?> MM"ZTBWNM(73)'E$*JJAE(W87&.V.WI0/J<_I^OW,=W<22W@6=W=/<.9%:2+R MI50@+(.V>.HXY]J@'ABW-E/;27=U()@JAF8?(%.1@`8[#F@0UO$GE6U_)-9N MCV7EATW@Y+=LCTHN/$;Q7-[''I[R162[I9?,``^7(X_2DG\*V]P9?,O;S$ZI MYP#+^\*]">*NMHMLRZ@I>7%^`)>1Q@8XX_GF@"'2]<-_>BVELWMV>`7$99PV MY"<=NE;%9]MI-O;7<-RCR%XK86R@D8*@YR>.M:%-@%%%%(`HHHH`***K:A-+ M;V,TT$?F2(N57!/Z#DT/0"S17.6VNW@L[>YG6UDBD!SY3$LV%))QVQC!%6TU M6=;*Y>>./SH@A4(3M._&W]3S0!L45@G6KE7=&BB+6Q_TC&>1NVC;^'/-6],U M*6\F*RHBI)'YL17.=NXC!]^A_&@#3HIC!R?E90/=<_UI,2_WT_[X/^-`$E%1 MXE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE M_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G M_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_? M!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_& MC$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$ MO]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT M_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\:,2_WT_[ MX/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+_?3_`+X/ M^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_?!_QHQ+_?3_O@_P"- M`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_&C$O]]/\`O@_XT`24 M5&!)D9=,?[I_QJ2@`HHHH`****`"BBB@`J@=:TX7WV(W:?:-VW;SU],],^U7 MJYRQM=0LV^PG3HIX_M1F^TR,I7:3G..NZA;AT-ZVN8;I&>!PZJQ0G'<'!%35 MQ-_HVJR0>5':,3YDSHRR#();*_Q`#COR:GCTO55UK[1Y,IW##.\H^4;,<,&S MG/8J1WH6PV=?5:"^MKBYGMX9E>:`@2*/X&[+4=.6[\VV?!0%=[C<[C/' M#$'_`'N,U#I&CZKI^I6U[*L+F;<+D(<,-QW98DX.#Z4=1=#K****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`JB^KZ>EXUH]U&)U&2GIQGKTSCM5ZN M2UJQU.]OI5CT[;;`D1,CH-SL-ID;G)P"<"@9NPZYIL\Z01W:&1U#*I!'!&>_ M?';K1%K>G303S172-'`,R$`\#UQCG\*R)K"]DU95&FA;*#/DE60!GVXWN,Y/ MTJCIVC:DA6&6VD6)S#'*975B`K%CMP>$XQCWH6HCJSJ%H)9H_/7?`GF2C^XO MJ:2PU*SU)'>SG694.&(!X-9$NC.E[JK06@\BYM@JA9`GF-DEN><'GJ15GP[; MWENEP+A)8H"R^1#-)YC(`.>=Q/L.M`&M_9]Q_S M_P`OZ_XT?V?<$\@&L^.\N+2&:>&:XN+=PL<W=C;0O:L(U:0"25DWA!GN.P]Z`- MBBL*\UFYM7E+11>6ML)$926#L2HSQ_#\WU-31:C<'1;FY^6:XAW*JB)E)(Z! MD/(//3-`&O16`VMS+%`BE);AIU24>2T?E*64'*DDYY&.>_M5S3]2>]U*[B"@ M6\2H8F[ODL"?IE>*`-.BBB@`JB+ZP$ID#*)&`4ML.2!T&<>]7JIVNH)=3O'% M#/M1F7S2N$)4X.#GUH`:]]8.R,[*Q0[E)0G:>F1QQ4&=&WROY,&Z4$2'R?O` M]<\58FU.VMY9XYRT9AC$AW#[R^J^O/'UJ:&[AF4XD5750SQLPW1_[PSQ0!2@ M?2+J-9HVD>,."\8!8>F>E`&='_`&+$FR.WMD7. M<+!@9QC/3T)%.MI-(M&9K6*"!F&"8X=I/Y"K-GJ%O>V\D\+YBC9E+'@''4CV MJLNNVK1LVR93A2B,F&D#'"E1WR:`'_:M-V(@*!(VW*H0@`^N,4^Q-B)9!9JB MN_SOM4C/^<_K4(URT+1+ME!D;:P*_P"K.X+AN?[Q`XS^57;6X2ZA$T8;820I M(^\`<9'L:`)J**AN[E+2V>>0,509PHR3["@":BLVTUJVNA"-LDGK4D6IQ26+7C1311*`PWI@L#TP*`+U%9O\`;=K\F4F!8D."O^J^;;\W MIS]:FL]1AO)9(X@X*C(++@.,D9'MD&@"Y1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`45 M!+>6T+%9;B)&`SAG`-4QJSRC-K8W$H)PK8VJWOGTH`TZ*R7M;_4&'VIQ:Q+R MJQ-EMW8D^U/%EJ3KMDU+:HX^2(9/XT`:=%9+Z1,^97OI7N4_U3D8"_A5C3]0 M6XC\N]02:TKJ([6&5KICM M6-TQ@^I^E`&H2%!)(`'))[5GG6(69A!!3RLQRR M*^$/MBM&.-(D"1J%5>@`P!0!G"75+LEH42TC'`$HRS?X4HTN:49NM0N')ZB, M[%^F*TZ*`((+2"WA6&.,!%.0#SSZ_6J^K::-2B11/)`R,"&3'(R,@@_2K`O+ M5KDVPN83..L0<;A^'6H-4U6TTF%);MV4.P50JY)__50`V31[:2-8R7"K!Y"@ M'HN00?KP*8NE,H=#=S%90QE;(#,YVX;@<8`JQ'J-I-=_98YE>7R_-('9?7]: M;'JUG)8/>I*3;HQ4N%)Z''``R:`*S>'[&5";F,3SM()'G=%WL00<=.!QC`[5 M9M=*L[.[DN;:".)Y$"$(@4``D\8'?//T%5E\2:4PC*W)(=BH/EL,$8'.1P,D M#-7;>^M[FYG@AD#R08$F.@)[9_"@"S1110`E8<.C3"]$@2"S"[]TMJ>E;M5/L]W_P`_O_D(4`07FE_:)=/8L)3:R;F>7[S#!]!Z[3^%9"^' M+U#*%DB)"R!7=]P?<<\KMX]\YYK>^SW?_/[_`.0A1]GN_P#G]_\`(0H`Q['0 M;B.]2>Y$+1B8RE"^\_ZO;_=`SFNBJK]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJ MGV>[_P"?W_R$*/L]W_S^_P#D(4`6Z*J?9[O_`)_?_(0H^SW?_/[_`.0A0!;H MJI]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJGV>[_P"?W_R$*/L]W_S^_P#D(4`6 MZ*J?9[O_`)_?_(0H^SW?_/[_`.0A0!;HJI]GN_\`G]_\A"C[/=_\_O\`Y"%` M%NBJGV>[_P"?W_R$*/L]W_S^_P#D(4`6Z*J?9[O_`)_?_(0H^SW?_/[_`.0A M0!;K'E\/0/+=2)/-&UPH&5=B5ZYZD@YSZ<5=^SW?_/[_`.0A1]GN_P#G]_\` M(0H`IV.F7-K:W-L\RRI/(W/"[%(QD`+R>G'2JO\`8]\Y@FD\@2VJ1)$H<[9- MAR23CC/XXK6^SW?_`#^_^0A1]GN_^?W_`,A"@"@VCO):$2QQ&YEG9V<<^4K' MG:<1_=&-HQ[58^SW?_/[_P"0A4D$4Z.3 M+<>:N.FP"@">J]_$\]E+%&L3,RX"RC*GV-6**'J!@Z7I5W%8VJSE-T:2`HS% MMH8`!??I_A3%TNZCM)8([:WA^T.I$<3'RXR@SNZ?Q$`?XUT-%`'/G1[QY))" M80;L_OAN/[L;]PV\?-QQVYJWI6GSVDV9C'LBB\F/822PW$Y/'';CGO6K10`Q MD#')+?@Q%)Y2^K_]]G_&I**`(_*7U?\`[[/^-'E+ZO\`]]G_`!J2B@"/RE]7 M_P"^S_C1Y2^K_P#?9_QJ2B@"/RE]7_[[/^-'E+ZO_P!]G_&I**`(_*7U?_OL M_P"-'E+ZO_WV?\:DHH`C\I?5_P#OL_XT>4OJ_P#WV?\`&I**`(_*7U?_`+[/ M^-'E+ZO_`-]G_&I**`(_*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T> M4OJ__?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4O MJ_\`WV?\:DHH`C\I?5_^^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[[/\`C1Y2^K_] M]G_&HKR^M[)5-P^W<<#C)IT%W;W/^HF20]<`\_E0`_RE]7_[[/\`C1Y2^K_] M]G_&I*CFFC@B:25PB+U)H`/*7U?_`+[/^-'E+ZO_`-]G_&LY]7\]2FGPRS2L M/E8KA1[DFA-#@>/==/)-.?O2;R,'VH`2[E>YN?L5C(P81 M%`MM0N8QT(9MP_IBGW5SIWA^Q,DF(H^RCEG/MZFL>+QYI;[O,BN8\#(RH.[V MX-`&W%HUA&@7R%<]V?DFK0@10`NX`<`!SQ^M<;_PENM7H9],T@M#R`VQI.?J M,#\*2+P_XEU"/S+W5'A67EXC(V0/]T3R71*X`^X![\'.?QIT?@/25;+2W3 MCT+C'Z"@#0DU_1(YTA;44+/C!61F7\6'`_$UV>&'I_G`!V5G MIT5HC!6D=W.7K'E+ZO_P!]G_&N-F\3:OK-X\'AZWQ&G)D91G\<\#Z= M:CN)O&%\@T^2V\G><-,@V\>[`XQ].:`.KN;_`$VU#F>]C0Q_>4SG(_#.:YV; MQSIR3E8K>ZEC'\>\C/X9J2V\`V"QH;JYN))1RVPA5/X8)_6NCM-.L[*W$%M; M1QQ@YP!U/J?4T`<>/$FM:D[/I&F,8$ZEB[D_CD#\*<+?QI=9S+Y"OVWJ,?ED MUVX&!@<"EH`Y'3/!0MYK>\NKQVNXYA*VWE3@YQD\_C^E7_%UI<7-G;FUMS+( MDRD.C[7C.1@C_/O6_10!S4VC7TET[Q>7#+-8B.6<8P9"PW=.>F>:70H[_3+6 M73Y+9/-(EEBV$8'(P.IZYXKI**`./OM#O_)T](8"[)#AR'48E+!F+Y^\O!XY MYK;TS3VL]6U&585B@F\LQ[<88@'=Q]36K10`4444`%<]?W=[:W.J?Z3NV6Z/ M$`N!&"S#/?)QSFNAJ@UYIS,[,4+.NUB8SEAZ'CD.1R:`,L:]>;#$8$6Y#[0#&YW#; MGA!S^9QWJUX=U6ZUB&2XECACA4[`JY+;L`_ES3MFB>2(?L]OY8;<%\GC/KTJ M>WN=,M4*6PCA0G)6.+:,^O`H`T**J?VE:?\`/;_QT_X4?VE:?\]O_'3_`(4` M6Z*J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X4`6Z*J?VE:?\]O_`!T_X4?VE:?\ M]O\`QT_X4`6Z*J?VE:?\]O\`QT_X4?VE:?\`/;_QT_X4`6Z*J?VE:?\`/;_Q MT_X4?VE:?\]O_'3_`(4`6Z*J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X4`6Z*J? MVE:?\]O_`!T_X4?VE:?\]O\`QT_X4`6Z*J?VE:?\]O\`QT_X4?VE:?\`/;_Q MT_X4`6ZQ3J%U+=WUO-&UI#&BXG+)^[SGGKWQQ5_^TK3_`)[?^.G_``IKZA8R M(R/(&5A@J4)!'Y4`4]+EN5BU""1V$L#?NQ*^_:"H(RW?G)]JQQ?WJJ+=)+K= M-'$29)%RSL^#M8?=4C.#[<5O0R:3`BI%'"BHVY0(NAQC/3KBFJ=&2&2%88%C MD.700\-]>*`,M9M1%K'<^>^+:5DD0R.0R-G:(U'S, M?I0!?+JI`9@"W0$]:=6))9S7TAGO9/LLG2V0/RIZY]S4ZZ0T@W7-[8QV+^&>M1F30;%C:RR MV:..665U)_'-9MYXXTNU;R[6*6XV\`H-J_K_`(4`:L$(MY?MVJ3Q"9_E4,P" MI[#-27.EV\ZB2WQ;S#E)8AC^76N2M]/U#QC??;-0#VU@H(C"_P`ESU]S_D.N M?#^K>',7FD7;W$:5S[`=0/4]_P"747&AZ75O[J*2:`+=1S0QW$3131K)&PPRL,@U7^VR=K.?\J/ MM5R>EDWXN!0!)9V5M80^5:0)"A.2$&,GUJQ5/[1=CK9?=.\0MW7<1M&`" M`<#*_P`Z!&FNIV++$PO(")CMC.\?,?05+#=V\\DD<,\M M/26.1G6.1'9#A@K`E3Z'TH`?1110`44UW2,9=E4>K'%-CGBD_P!7(C?0T`24 M5$US`A(::,$=06&:@.I0Y_=K)+_N+0!*`.WH MKB_^$OA9=WV[;C^$Q'#M?J5/0X_I7'6__``D,S;K32!$IZ>8-I_,D M57O+_6=.U!K2ZA26YD53$%&1D]Q_>[C'K^H!W']L0DD1Q3,!SG;@?XU#'J\T MZLT%J2BC);!(P.O-<]'H7BJ>,3-J8MW/(B64K^!"C%17NA>)Y[5Y[N_W&%=Z MQ)(IKGM!U M;1)+.-M0E,%U&"'!+;9,?Q<=_;]*B-]=ZYJKV>@GR[9%SYDN<#W[X]AC/]`# MK(M/TVTF\T;`1]T.^0OTS22WVGJQN5C\V91QM3#'VR<5@VOA?6)+@'4=4"PC MJ+A[YIXTS7;G_`VJSD$?08%=\B+&BHBA548"J,`"G4`<1; M>$M,6#;,+Z>8\[T4*/P'-;FGV-IIT86UTEE]78`L?J36W10!3^V3?\^2L?RC_P"O M5VB@"G_9MO\`[>/3<:7^S;3_`)Y?^/'_`!JW10!3_LRV[*P'H&-2QV=O%RD* M@^I&:GHH`:44]5!_"A45<[5`SZ"G44`)0`!T`%+10`4444`%%%%`!1110`44 M44`%(0#U&:6B@`I-HW;L#=C&<H'?UQ5RDI/5`6-752H(*C:<=`2 M>_?%2@8TZY6."6-9O*5(C$07*J"XQCT!'OBNG``&!P*"`2"0"1T/I3`Y-K>5 MI966VEV7!/V7]V1L/F`YZ?+Z\XZ5H:%#(ER=T+QF.'RYF9"NY]Y/X\OXU2$OB>Y3S5TQ\+R/,?!'X$@UVK6\ M+3"9H8S*O1RHW#\:EH`\_EB\4R(9VL/ESRH(W?EG-1J_B.Y<)#IDR-TS)'M' MYG`KT2B@#@1HGBIT9FDC0CHA=AT4`>?V_ MA+6;]Q_:,B6\(/*!@2?RR/SK>M?!^E6^"UH)V'>68G]``/TKHJ*`,23PSI4C M[FTRW!_V791^0JV-*LE4`:99``8^X/\`XFM"B@#(?P]ICRB0Z7:;AZ<#\@,5 M9?[B?\`?9_PHS+_`'$_[[/^%244`1YE_N)_ MWV?\*,R_W$_[[/\`A4E%`$>9?[B?]]G_``HS+_<3_OL_X5)10!'F7^XG_?9_ MPHS+_<3_`+[/^%244`1YE_N)_P!]G_"C,O\`<3_OL_X5)10!'F7^XG_?9_PH MS+_<3_OL_P"%244`1YE_N)_WV?\`"C,O]Q/^^S_A4E%`$>9?[B?]]G_"C,O] MQ/\`OL_X5)10!'F7^XG_`'V?\*,R_P!Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/ M^^S_`(5)10!'F7^XG_?9_P`*,R_W$_[[/^%244`1@R9&43'^\?\`"I***`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HI,C.,C)[4M`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`'*ZH\47BJ-]V^4Q%0/F#1\#!&/O#KQ]:2VFC@T2Z MACF@=1L`GA)'F`@%^I)R%SG'Y"NH,:&02%1O4$!L<@'K_(4&*-F1B@RA)7V) M[_J:%L!R+.HD81O^[1C]@PW!/F`';Z_X>U:/A]]UV^UBSF'-SSG$N\]?0XS^ M&*W]HXX''3VH``S@=>M"`6BJD^F:?<2M+/8VTLC=7>)6)_$BF?V+I7_0,L_^ M_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?]`RS_ M`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS M_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+ M/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T#+/\` M[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+I7_0 M,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[ M\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!BZ5_T M#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0,L_^ M_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?]`RS_ M`._"_P"%']BZ5_T#+/\`[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS M_P"_"_X4`7J*H_V+I7_0,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+ M/_OPO^%']BZ5_P!`RS_[\+_A0!>HJC_8NE?]`RS_`._"_P"%']BZ5_T#+/\` M[\+_`(4`7J*H_P!BZ5_T#+/_`+\+_A1_8NE?]`RS_P"_"_X4`7J*H_V+I7_0 M,L_^_"_X4?V+I7_0,L_^_"_X4`7J*H_V+I7_`$#+/_OPO^%']BZ5_P!`RS_[ M\+_A0!>HJE'I&FQR+)'I]HCJ05985!!'0@XJ[0`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`'/:O<06NL0SK)F:,_O$+$-MV-]T=-O<_2LJ M*,Q020O/Y5R5E6Y8Y.U,+@D#G'/7W/O7:%5/4`\8Y%+@9S@9-"`SM"96L65% MBV)*RJ\6=C@'[PR3_,]*TJ0````8`["EH`****`"BBB@#E[N:V.I7GV2X47` M5HG#2_/([X4`+_=7^?XU6NUB2:52@DG1Y$,9)X7Y1%D>F2,?4UV!`/49HP,Y MQSZT`0V=LMI:16Z$D1J%R3R?>IZ**`"BBB@`HHHH`2N0EDAFCO%TVX5FF(C" M>9N>1@2S.1VX!`__`%5V%(0#C(Z=*0SBIWB6V+02(]J!\JM*54RF/)(/]X'G M'J3WKL+7S#:0^;GS-B[L^N.:DVKC&!C.>E.JA!1112`****`"HYRJP2&1RB! M268'&T8ZU)10P.6TT07;1Q65P%AED,H2.0.T:JF`3UPQ8@XJS!&WV#1W\Z3" MS`%<\-UY/1(&$>=XAJNG&. M3,_R*Z%CNVE#C:.FWN?I714F!G.!GUI:HD****0PHHHH`J:H\$>FSO=.R0!? MG*G!QZ?CTKGXHUN;*18;A1'%!+*!!(&$>X\(#ST`8?B<5U=)@9SCGUI#NO!^HKI:3`SG`SZTM42%%%%(84444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`95[XDTFPNGMKJ[\N9,;E\MSC(R.0, M=#5FPU.SU*V>XLYO,B1BK-M*X(`/<>A%<9XG\-ZM?Z_9"^S:WF(,X0 M`\$YZBMSPEI=YINAW-M>0^7*\K,J[@<@JHZ@^H-)[#1L66I6FH9^RR,^`"24 M91@_45;K`31YO[*LK:1IIAQBN2DT75"HS"9 M%VJGEF1>""<-UYP.,>_%6K'2;V.XCGEB82I,F&\P'"?-N[^XH`VI]4L[>Z%M M+*1,0#M$;-UZ<@8JU(ZQQM(YPJ@DGT`K*N=.N9M1O+B*:6'="BQ%'`#,-W4= M>,BL6/2;\6[+-;330D$>1O53OVXW_>QC/?/OBET'U.OC=9(U=#E6`(/J*;/- M';Q-+,VU%ZFN2.C:H6=2LN2N"0R@%<#"YSGC'3`Z=>:?ZI9.L6^W08E^8#C<#CKD]*S6TB_6W=1`X9ECWD,K%E4ME<;N>-O'3BE MT#J=;17*V^AW4FQKN)W/F1#YI!D1C.X<'Z#_`!JO+HFHHD.R*3R_*7S45PQ: M3YL'EAT&.>W'I0!U=Q=P6Q03/M+YVC!.3BC MJ@Z'652M=7LKRX,$$K-(.H,;#'XD5DZ5IVJ0W4S-,T3$'>[H&60[LY`#9/'< MX],4W6-,OY[N>2)':%Y`=J%26.P`'!(Z'/TZT!Y'345RAT*[>,M-$SS-YI9C M+U.S"=_[V:VM'M)+-)T="JLX906S_`N>_P#>S0!HU4NM2M+.01W$NQR-P&TG MC\![5;KG]?TV[O+U)+>+>@C"D[@.S?MV_,#G&?3ZUF#2]11#L MM[@LJR@B652F&;(V`-D'ZX]*`.MJ-)HWEDB5LO'C>/3/2N5@T:_,33ZY6>QO$LY#]FD25#NFF,PQ+C<<@9]"/?MCBJYTZ M^GL4%O9R+`Z*0C.&._9R^-P')(Y//&<4=!]3IYM2M((7FDEPB2>6Q"DX;TP! M4MMVY@2<2#RY&"*V#R2<`?G7.KI%Y"L1-N[ MQD`W,:R#,I#DXZ\\$?EBK4VG7;>&(;2*`K.CJ?+WC*@-GKG'2CI:?+I MNH?;X',X9Y4VJ4(SD'N*`+5UJ5I:2K'<3!'89Q@G`]3CH/9`0V=Q'(QVS_LC\JM4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4R3?Y;>5M#X.W=TSVS3Z*`,*'6+J"*6;4$C:-)&C`MD.05/)))Q MBKT&K6MQ<&!"P=1D[A@`<$'\<\?CZ5#=Z#;W2;&EE4>8\AX4\OUZ@CZ'J*=# MH5I%+YC[YS@*PFVL&``"Y&.V.,>I]:%Y@RG:Z[(WVB:YD@\F$N#%$C>8,-M' M4X-6#XCL%9UD\V,H#G>O<=5Z]>:M?V;#_9[6>Z3RV8L3D9R6W>GK56?P]:3S MS2.S[926*@+PQZG.,GZ$XH`D.KI+9QW%L,[KA(65^JDL`>AZ\TU-?M7!VQW& MXX\M=G,G)'R\^H/7%2PZ3#':+`9';$PF+`*N6!!Z`8`XZ`5&="@`B,GN1]*`&'Q%9!&D9+A4&0"8\98=5'N*<"0A)`.<'W[&I(-71+?==2)(^SS"T*$*5W M;1C//6I(=)ABM%@,CMB99BV%7+`@]`,`<=`*6_TJ._E#M-+'\NQA'CYUR"`< M@]QVH`@37[5\[8KC<<>6NSF3DCY>?4'KBK>EW37NGQ7#J$9P25QC')%53H5O MB(QS3))"N(W!4E3N)STQW(^E7K.V6SM4MT=W5,_,Y!)YSSBCH'4GHHHH`*** M*`"BBB@`HHHH`*QY-5N?M$]NEND<@F2&+S#D'<"=QQVP#Q6Q5&XTR*:2602R M1RR,CAUQ\C*,`C(_G0!!_:DATM+Q$0LAS/&#DA02&(^G6H[;Q!`\VR<,GF-F M/"]%/W<]\G&>!W%7(=+M8;9H4C`+1F-I<#>P/7)Q5:7P_:RS"3S)%&Q58#;E MMHP#G&1QZ'TH`(==M9)5BC@G$KOMV>6,CC.3STQ4EQ=WKWDT-C%"PMU4N)"< MN3S@>G'<^M,L-!M["X6=)9&=>@(55Z8Z*!VJ6[TM+F9Y!<30B50DRQD8D49Z MY&1UZC%`$)\06HQ^ZN"7($8"?ZSG&5YZ9H3Q!:O%O6&Y.2@1?+Y?=G&.?4$? MA2Q:#;Q2Q/YLS"`CR5)&(QG.WIR,^O/`J.XT/$=NMI-(C1M&"Y()"J6.1QC/ MS4`2'7[+&<2F/'SMLX1CGY3[\4S_`(2*R6(,R3(>,1E`&QC.>O3%'_"/6VTQ MB:?RF^:1,K^\<9PQ..O.>..E+<>'K68AO,D5P%4-A6P`NWH01T_6@!D_B.W6 M&5H(I9"JL4;;A7(P2`?H0:MZ1?MJ%L\CH$*OMX.1T!_3./PJ$Z#:F'RA),%^ M?&&&1N`![>U::@JH!8L0,9/4T`.HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***R/%-Y/9:)++;N8Y"RIO'\ M`)P30!KT5RU_:#2;6[-OK%P9&M680R2[F8C^-3G(_"H[KQ%=Z?96@B$,Q6UC MED\PNSMD#/08'U-`'6T5S$WB6ZBU9+>6WB@MW9`K2A@7!'4,!BGV?B&ZEUS[ M#=016ZL[(J.'#D#H0<;3F@#I**P-<>6XUG3M-\^6"WG#M(8FVL^!PN:MZ4B6 M4-U&-1:\2%R<.=SQ#'W2>IHZ7#R-2BL"YO-1&C17TH75DT12!%"EN@.W*`W-VBL._U"Z6ZAAMY`FY8T=M MH.&=N#^`5OS%5Y-0U/:0OFM';M*LTT,:$G:1@X8@=,YQ0!TE%9T>LV$H6.*] MA:9@`H)QECTJ@M]?HER@N5N#A(TF6,`+,S8*KZ@9S0!T%%<]#R.>_3L:M5PMWIVL7D]UK$5LBLLX>))`XF"IP`%QT/ZT=0Z M'=T5R$UG?W&JK;QQ3I87[QW,I(8>5@99#Z$G%4[.UU)=;+2I<+<>:YD=8F(9 M.P+%MNWTP,T`=W17"_V;);>'K)GLKAY[B3_22_F-M`)QE`0>_M44$5RD.G1: MC;WLMNAF'D*&#Y_A.W.<>_04`=_2$@#)X`KSE(KVXT?3W99I;7$N<*\F'W'! M(4@Y]#TKIKHZA%X1CA1)YKR5!%DH=PSQEL9Q@=Z'L'4UM/U*TU.)I;*82HC; M6(!&#^-6ZX5=-U32$O+;[,'CN[0J#9J[`.HP">.">?J34G]G7=LDPMX+H>=I M69/OMNFSTY_B]J'_`%^/^0';45Q2Z9=P"5+:&Y'GZ5F3)8[IO3G^+VJK=27L MZQLEA?-&E@D,FY'4;@PW'CD_A1_7YA_7Y';W5[;VC0K<2;#.XCC^4G5;31EOK:ZDL([8":*)6W"3:,;@.:JZ+8W5KK$,][:7 M;R/;-Y1);(()P&/8[>.?:A[BZ':W-Q%:V\D\[;(HU+,V"<#\*AGU*TM]/%_+ M+MMBJL'VD\'IQC/>N%M[6^87)2SND$UI*KJ(I.7[`EB6J$MD;<\=:!]35L=;T[4)S!:W&Z4+NV,C(<>V0,U:N;F&T@:>XD6. M->K&N1N=/U.WOKK)NKN=[4K:W('">JG`P#UP:S_[.NIM'O0MO,4"/0Z6N#NEN8X-4M[6SO]MRL+6P$;G"C&?7+EX M+AI40"UQNY)3!VCO0!V%%"ZC@(=6+J-[%58]2%S@&M.B@"IJ&FVFIQ+'=Q;PIRI!( M*GV(HL=.M-/MC;VL(2-B2PR26)ZDD]:MT4`9B:+;FUBAN"S^2IC5D=D+1YX5 ML'D8Q^565L+86DMKY?[F7=O7)YW=:M44`5'TVUD2560XE96)#$$%0`"#U&," MHGT6Q=%4QN-H8$K*P+@G)#$'+9/K6A10`PQ(83%C"%=N%.,#VQTJG!H]G;>4 M(EF"Q'-4".FV1I%9)&5@S9W$$'/.31!IT<%U' M(@"QPQ>5%&/XZ[O:CJ!T5%=*O#JA"JV!@=3Q[?C5M/$L;ZH;/[+(,+D%F`9OESPIZ_@:`-VJ=_ MIEEJ007ENLNS[I.01^(JIH>N)K!E`A\HQXX,@)_$=1^7XU4L;W4KUOMJWMO# M;_:3%]GD0#*@X^]UW>U'4#=MX(K:!(8(UCB0855'`J6BB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`***YC5]5U#3]1<)/#*@5G-NB9\M`O#,W8D]J M`L=/17,B^U:WU&W@ENH)F*;I8A'CRT"\NS=CGM52QU[49K6=99<3R+$8-T04 M@NV,J.C+[F@#L:*Y[^TM3^W:I"T:[H+-H0A3(R.A.0:%J!LU1UD(VE7`DD,:%>6VDX&>X';U]JO4G6D]4".%T MR>VE@ACLY%AO84)R9LY^4X6,'KN)R0.F/I6C%/%'I5X+:8>0WE[2'ZG:#)CO MG&2?QKJ(T2*-8XU"HHPJCH!2-$C,C%02A)7V)XS^II@2?]\BI**`(_)B_P">2?\`?(H\F+_GDG_?(J2B@"/R8O\` MGDG_`'R*/)B_YY)_WR*DHH`C\F+_`)Y)_P!\BCR8O^>2?]\BI**`(_)B_P"> M2?\`?(H\F+_GDG_?(J2B@"/R8O\`GDG_`'R*/)B_YY)_WR*DHH`C\F+_`)Y) M_P!\BCR8O^>2?]\BI**`(_)B_P">2?\`?(H\F+_GDG_?(J2B@"/R8O\`GDG_ M`'R*/)B_YY)_WR*DHH`C\F+_`)Y)_P!\BCR8O^>2?]\BI**`(_)B_P">2?\` M?(H\F+_GDG_?(J2B@"/R8O\`GDG_`'R*/)B_YY)_WR*DHH`C\F+_`)Y)_P!\ MBCR8O^>2?]\BI**`(_)B_P">2?\`?(H\F+_GDG_?(J2B@"/R8O\`GDG_`'R* M/)B_YY)_WR*DHH`C\F+_`)Y)_P!\BCR8O^>2?]\BI**`(_)B_P">2?\`?(H\ MF+_GDG_?(J2B@"/R8O\`GDG_`'R*/)B_YY)_WR*DHH`C\F+_`)Y)_P!\BCR8 MO^>2?]\BI**`(_)B_P">2?\`?(H\F+_GDG_?(J2B@",0Q@@B-`1_LBI***`" MBBB@`HHHH`****`"N=\K1OMOVO[)+YN_S,9.W?\`WMN<9KHJJ0:A;7-[/:PO MOD@`+XZ#)(QGUXH`QI;;1)?O6DXSNW;9&&X,O=FUG\^0 MY=O,;#?4;L?ABF6\&C6TB216TX9&#*2Y;&,X')Z#/2MJTOXKJ.5]KQ&$XD24 M8*\9Y_`U677;5HV;9,IPI1&3#2!CA2H[Y-`%>6;2YI)Y);:1FN(Q')G^)1T& M,U-HRV$!DALHI$+?.[.2Q;''4DFG#7+0M$NV4&1MK`K_`*L[@N&Y_O$#C/Y5 M=M;A+J$31AMA)"DC[P!QD>QH`FHHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"L]K"1]1N9Q*8DEA2,-&?G!!8D\C'>M"JGV>[_Y_?_(0H`@O-+^T2Z>Q82FU MDW,\OWF&#Z#UVG\*R%\.7J&4+)$2%D"N[[@^XYY7;Q[YSS6]]GN_^?W_`,A" MC[/=_P#/[_Y"%`&/8Z#<1WJ3W(A:,3&4H7WG_5[?[H&[_Y_?\`R$*`+=%5/L]W_P`_O_D(4?9[O_G]_P#(0H`MT54^SW?_`#^_ M^0A1]GN_^?W_`,A"@"W153[/=_\`/[_Y"%'V>[_Y_?\`R$*`+=%5/L]W_P`_ MO_D(4?9[O_G]_P#(0H`MT54^SW?_`#^_^0A1]GN_^?W_`,A"@"W153[/=_\` M/[_Y"%'V>[_Y_?\`R$*`+=90T=;>ZN;RT?\`TB11Y8D=RJGG.>>0<_A5K[/= M_P#/[_Y"%'V>[_Y_?_(0H`I66G7$4-TC1Q11W3',2REA&"N"02.23VXJM_8] M\Y@FD\@2VJ1)$H<[9-AR23CC/XXK6^SW?_/[_P"0A1]GN_\`G]_\A"@"@VCO M):$2QQ&YEG9V<<^4K'G:<1_=&-HQ[58^ MSW?_`#^_^0A4D$4Z.3+<>:N.FP"@">BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`**JWM_;V(3SWQO.``,GZ_2AM1LD0,UU%@\CYP:`+5%9S MZU9)*J"0L#U=1E5],FM`$$9!R#0`M%%)0`M%9TVM6<99(Y#-*#@)&I.X^F>E M-2'5;@>8]VEKGI$L8?`]R>]`&@\L<>/,=5S_`'CBJ&8<80%L_E3 M(]'@8L]XS74K?Q/Q@>@':KT4$4"A8HT0#LHQ0!GVTVISS+<;$6V=L>2_#*O] M[_ZU5/%BEK:W`DP!("8@Y0R#(Z'U&>_]*WZKWEE;7T0BNH4E0,&`89P10QHY M^_NKE`\\%S*Z2V*M&K':4!91DD?QAC.4VV.]:.C7LUUK-\9A.@:-&2*2)E"#+#N.I MX/\`^JM:.TMHH%@C@C6)2"$"C`(.1,91@-TV`<8'H3715FQ3:5!.\T21)*_WG6(@G M\<4`5;^:\2XA:TD=4U#$0$H(,+8SN`/^R#QZ@54M_$,Z1G?!B$(XB>7=G*G' MS'G<3[#K6R]]8.R,[*Q0[E)0G:>F1QQ4&=&WROY,&Z4$2'R?O`]<\4`4K?6[ M^>X2U$,*S&8QEG1E&-F[.W.0:Z&LR!](MRI@B@C*G(*PX(.,9SCTJS_:5I_S MV_\`'3_A0!;HJI_:5I_SV_\`'3_A1_:5I_SV_P#'3_A0!;HJI_:5I_SV_P#' M3_A1_:5I_P`]O_'3_A0!;HJI_:5I_P`]O_'3_A1_:5I_SV_\=/\`A0!;HJI_ M:5I_SV_\=/\`A1_:5I_SV_\`'3_A0!;HJI_:5I_SV_\`'3_A1_:5I_SV_P#' M3_A0!;HJI_:5I_SV_P#'3_A1_:5I_P`]O_'3_A0!;HJI_:5I_P`]O_'3_A1_ M:5I_SV_\=/\`A0!;HJI_:5I_SV_\=/\`A1_:5I_SV_\`'3_A0!;K%.H74MW? M6\T;6D,:+B>O?'%7_`.TK3_GM_P".G_"FOJ%C(C(\@96&"I0D$?E0 M!3TN6Y6+4()'82P-^[$K[]H*@C+=^;2K4,+=8H@YRP2(C/Z4`9?FWYT MK3;]9V95B4R#>078D=OXLC*X/BY@,;-(TR_,[/T.2>5Y^[D$#Z4_[5 MIOEQQC8$B(**$("D=,#%/L38B606:HKO\[[5(S_G/ZTP+M5=1:=+"9K7_7!? MEZ?IGC/UJU45Q!'=0/#,NZ-Q@C.*E[`C"TO4KV6&SS*)U>*0L2FURX`."/;/ M7O4D&HW<>EW!N&D^VQ[`5DC4;"V`"-I((Y/Y5H6NDVEK;10+&6$:LN6));<, M-GUS3!HUJ(O*7S/+)RZF1B7&W`!).<#MZ8%4P,QM4O4DFC\Y3]C.7;8/WPWX MQ[<>G>KND7UQR_='RV)C.!"K/URQ.!DG`ST&23@>M)`3M(B'#.JGW.*3SHO^>J?]]"I* M*`(_.B_YZI_WT*/.B_YZI_WT*DHH`C\Z+_GJG_?0H\Z+_GJG_?0J2B@"/SHO M^>J?]]"CSHO^>J?]]"I**`(_.B_YZI_WT*/.B_YZI_WT*DHH`C\Z+_GJG_?0 MH\Z+_GJG_?0J2B@"/SHO^>J?]]"CSHO^>J?]]"I**`(_.B_YZI_WT*/.B_YZ MI_WT*DHH`C\Z+_GJG_?0H\Z+_GJG_?0J2B@"/SHO^>J?]]"CSHO^>J?]]"I* M*`(_.B_YZI_WT*/.B_YZI_WT*DHH`C\Z+_GJG_?0H\Z+_GJG_?0J2B@"/SHO M^>J?]]"CSHO^>J?]]"I**`(_.B_YZI_WT*/.B_YZI_WT*DHH`C\Z+_GJG_?0 MH\Z+_GJG_?0IY(`R3@"LXZW;\F.*XEC7@R)'E?SH`N2W=O#&TDDR!5&2IQTJ7^V=+$:N=0M0K# M(S*HS^M`$ACLO)>("$1O]Y5P`:SH;N72U,,D9N+9#\DJ."0OH1[5._B+1TN$ M@.H0%WZ;6W#\6'`_$UIT`8_VN?4I'^RW*VMLO`<@;G/L#VH>"]G407&H0&`G MYV3AV'IZ5L`!1A0`/04M`%>#[+;Q".%HT0=`"*D\Z+_GJG_?0ITCI$C/(ZHB MC)9C@`5AS>,=%BF,?VEGQU9$)7\^]`&UYT7_`#U3_OH4>=%_SU3_`+Z% M/K1)BMI9RW"`=C2>:OW!VX_K6]X:6--?N]A2=Y%=Y9!&5:-M_W#D_C^%"! MG64444`%4#K%D);I/-S]E4-*0,@=>/<\5?K)O]*ENYKUE=%6>W2-,YX96)Y] MN10!4Q>60-RL.N>>`!SGTJ*W MT^Y>XFNKB=K>25U/EP."N%&,$E>>_I4.H:(UW<7\L9C0W-NL:MWW`G.>.A&T M?A0!J?;+7R//^TP^3G'F;QMS]:='<02N4CFC=P,E58$X]:YP:#?*NY?*!:3< MR&7)QMVY#%./P'3O5[PSH\ND64D=QY+3,^=\>3\N`,9('I0!M4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!4$UW#"LQ9LF%0SJHR0#TXJ>LH:.M MO=7-Y:/_`*1(H\L2.Y53SG//(.?PH`MVE_%=1RMM>(PG;(DHP5XSS^!JL-;M MS`\QAN%4!2F8^9`QPI7ZFHK+39XH;N-HXH8[ICF-)2PC!7!()'))[<53@T*> M*(@VMB0J1HT)8E)RIR7;C@_4'WH`TVUB&-X4EAGC:4]'4#;\P4$\]R0.*MVM MPEU")HPVPDA21]X`XR/8UD)HK?8!$T4*R-,67;R+=&.2%./3IQU/M5K1[2\M M#,MS)F/@1KO+#@GD?W1C:,>U`&G1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`450O=5AL[A(G!;/+E?X!ZFFO MK=BCLOFEB.,HI()]`:`-&BLL7VH2DR6^G_N>@$C;7/O0MA>77SWUVZ9Z10': M!]3WH`==7L\EW]ETX1O(G,CO]U?;ZTT:G-;LHU&U,"'CS5;M`&@TL:Q^8SJ(\9W$\8 M^M4KK5(UV1V>VYGD^XJ'('N3Z4P:);A@/-F,(;=Y!?*9^E6H[:TLO,F2..$$ M9=N@`_H*`*;6-_=C9>7:+$1\R0KC/MDUI1QI%&L<:A448`':L;4?%>E65NSI M@K#AU7Q?J$8NK2TC6!ONC:H!'K\QR:`.DUS7+71+K?X#WK`C\?H,_:=,ECRN4VR9W>G4#CWYI^D^&+N[U#^TO$+B63@K"3GG MWQQ@>@KJI[6WN55;B"*55Y`=`P'YT`<*]13S[&P6.%AA3L'/OECS_*B/ MPEK%]$'U'5G1I#EX]Q?'ZX_I7;=*6@#E[+P+ID&3F>([OPZITW5[65 MUB;".#R%]L_>'I7>U%<6\-U`T-Q&LD;C!5AD&@#D;CQ;?W]TT&@6)F5.LCJ2 M3^';\:@GUSQ1=I]B33'MYW./-2)A@?4\#ZUV%AI]IIL)BLX%A0G)`[GW)JU0 M!Q,?@.:8"2]U1C(YS(%0MG_@1//UQ6[:^%M'MH!%]C27')>7YF/XUL,P498@ M#W-0M>6R]9X_P;-`"6EE:V2E;2WBA#=?+0#/UJQ5?[;;?\]T_.I$FBD^Y(C? M1@:`)*9)&DJ[9%#+D'!'<'(_6GUGZMJ@TU(<0//)*^U44@?S^M`&A49AC,XF M*YD"E0?0'K_(52?68%GDA$!BCQ8!8 M,,<#!P>H[T`7`J@`!1@=..E*``20!D]?>LHZXBCY[2X4H^R;A<1'(')S@_>' M3-3V6J17MP\*1R)@%E9L8.1WH`OT444`%5/L]W_S^_P#D(5;HH`J? M9[O_`)_?_(0H^SW?_/[_`.0A5NB@"I]GN_\`G]_\A"C[/=_\_O\`Y"%6Z*`* MGV>[_P"?W_R$*/L]W_S^_P#D(5;HH`J?9[O_`)_?_(0H^SW?_/[_`.0A5NB@ M"I]GN_\`G]_\A"C[/=_\_O\`Y"%6Z*`*GV>[_P"?W_R$*/L]W_S^_P#D(5;H MH`J?9[O_`)_?_(0H^SW?_/[_`.0A5NB@"I]GN_\`G]_\A"C[/=_\_O\`Y"%6 MZ*`*GV>[_P"?W_R$*/L]W_S^_P#D(5;HH`J?9[O_`)_?_(0H^SW?_/[_`.0A M5NB@"I]GN_\`G]_\A"C[/=_\_O\`Y"%6Z*`*GV>[_P"?W_R$*/L]W_S^_P#D M(5;HH`J?9[O_`)_?_(0J2"*=')EN/-7'38!4]%`!1110`4444`%%%%`!1110 M`4444`%%%%`!112=*`%HI`P*[@01Z@U!]NM/^?J#_OX*`+%%0&[MA_RWC_!A M4-QJEM`!\S2$]HQG_P"M0!=HK"FUN=B1!"D8/1I6Y_(56M=:-LDXEN4FZ,&D M8#83UR,]/QH`Z:BN-?Q9!YF'U#KQ^[B.U?T_QJ&7Q#8QKNEU"2X=APL,;':> MQ);'Z4`=Q5*^U#[+-%#'`T\K@MM0\@#O658:K<,D)59I3(,@%"0P]0:?!?06 M,LMUJ$N+F7@@C:$4=AF@"T=3GG8165G()?XC.NU4'O2.VL.?LY6%"W6X0\*/ MH>_^?>JDWC#38^DBM]&S_(&J4OBR5KA;2*WF:>0?+Y<)#<^@8_TH`MW>J:1H M%Q]DNC+--<#,KD;\`_WO\!FK/_"1:#9IY27L"J@SB,%A^@YK-7PB+EY+B\+2 M33#YO-?+*?7Y>,_3BGQ^"K)`,PQN?5G?^AH`AF\?V2S%8K2>2,#[Y(!)^E5U MUKQ3J^9=,LA!!_"2!R/J_!_`5T<&DF"#R(F@BBZE4@7!-6!9S?\`/Y)^``H` MY[1O"DC73:AKSKQ^G04[6?!MO(@GT?\`T6ZC.X`,=K?X&M_[ M)-_S^2_E1]B?_G[G_P"^J`./'B7Q#!$-/DT]C?9VK*R')'KCH?KTJ&>+7-PH`YFRT#0[ M1U?[%<3NO3SAN'UQTK>%[C&+2XV_[E7**`*?]H*.#!<`^A2C[3LA MQ^E7**`*>[4!_!;GZ$T9OW.-L,8]2235RB@"GLOUY$L+^S+C^5&V_DX+PQ#U M4$G]:N44`4_LMQWO7_[Y%'V)SUNY_P`&Q5RB@"G]A]+JYS_UTH^QR=#>38]C M@_G5RB@"HNG6^(K*YOK...WCAEPX++(<$#Z&FPPZC;6AM;>"!)61V\UIF<%\CECM M')R3T[5L44`<_+I5[)9);>3:J-VXR&9G='SGS<[1D]>..W-3Z1I4]E>R32") MD]@1FVNN>9%;M<6SQ&2%IF8'*@`9X M/?([=JECU<&SGFEMVC>':?+W`[MP&WGWSBJ^GZ"8+"&":4$JD@<(N!\X`./I MC\:4Z3<_9VB:XC=IBH>3R\;0B_)@9ZY`)^IZ53`<==P=K6Q#1G%P-X_=#=MR M/7U[<59L-3%[,R>28P5WQL6SO7)&?;I^M5#H4C.7:Z7=,?\`2,1_>&[=A>>/ M3O5G3M,:RE+/,)%5/+B`7&U'<))D!7JH.2/P'-4WUN! M7VK!.X_O*%Q^I!IM[HB7MVTSW4ZHV-T:D`<#'!QD?YZ5(NA:6J%/L4;`C!W9 M8G\30!#-X@M8^-K;_P"ZQ`_EFF1^([8@F0;0.^#4(\.:.#G^SH/Q6@#GKOQ.S2+%8O/5S5CRE]7_P"^S_C0!RTF MB:A;_+!;QSAN"?M&T?CQ2R>'M89<0W5G;C'\*DG/U(KJ/*7U?_OL_P"-'E+Z MO_WV?\:`.'D\/>)UE"+=PNI_C#\#\QFK%MX/U.23_3]794XXA9B3^>,5V'E+ MZO\`]]G_`!H\I?5_^^S_`(T`8$/@K25YG^T7+=S)(?Z8JCJ7@:.XU))+.5+> MT(`DCY)&/[OUXZUUOE+ZO_WV?\:/*7U?_OL_XT`9L/AG1H83$+")@1@LXW-^ M9Y'X5#)X3T';W5]0?4O$2<$?)"3@^W`Z`>G6NP\I M?5_^^S_C1Y2^K_\`?9_QH`S[+P[I-A.)[:S191T9F9L?3).*U*C\I?5_^^S_ M`(T>4OJ__?9_QH`DHJ/RE]7_`.^S_C1Y2^K_`/?9_P`:`)**C\I?5_\`OL_X MT>4OJ_\`WV?\:`)**C\I?5_^^S_C1Y2^K_\`?9_QH`DHJ/RE]7_[[/\`C1Y2 M^K_]]G_&@"2BH_*7U?\`[[/^-'E+ZO\`]]G_`!H`DHJ/RE]7_P"^S_C1Y2^K M_P#?9_QH`DHJ/RE]7_[[/^-'E+ZO_P!]G_&@"2BH_*7U?_OL_P"-'E+ZO_WV M?\:`)**C\I?5_P#OL_XT>4OJ_P#WV?\`&@"2BH_*7U?_`+[/^-'E+ZO_`-]G M_&@"2BH_*7U?_OL_XT>4OJ__`'V?\:`)**C\I?5_^^S_`(T>4OJ__?9_QH`D MHJ,1*"#E^/\`;/\`C4E`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`4Y=3M(K]+)Y<3L,@8./SZ9I8= M2M)[9[F.8&%!EG((`_.LG4+6\;Q#');6[!7B8/('`5UP.#GH?<#T]#3%M[I- M/EMEM[E5D9!##+*'*E!EOFR<*=N!_3-"V`V!JMD1"?M"_OCA.#USCGTYXY[U M);WMO=221P2AVC.&`[?X]#^58+:?>O+._P!F8"\/0LO[GYP?]]P__'*`+U%4?M]S_P!`F\_[[A_^.4?;[G_H$WG_`'W#_P#'*`+U M%4?M]S_T";S_`+[A_P#CE'V^Y_Z!-Y_WW#_\?\`??]]P__'*`+U%4?M]S_P!`F\_[[A_^.4?;[G_H$WG_`'W# M_P#'*`+U%4?M]S_T";S_`+[A_P#CE'V^Y_Z!-Y_WW#_\?\`??]]P__'*`+U%4?M]S_P!`F\_[[A_^.4?;[G_H M$WG_`'W#_P#'*`+U%4?M]S_T";S_`+[A_P#CE'V^Y_Z!-Y_WW#_\?\`??]]P__'*`+U%4?M]S_P!`F\_[[A_^ M.4?;[G_H$WG_`'W#_P#'*`+U%4?M]S_T";S_`+[A_P#CE'V^Y_Z!-Y_WW#_\ M?\`?WCWM&)"3O+`?*P`X'!YSZ M<4(#5^5MHRP!]JB;7(%?8(+ECS]U!U`!(Z]LC-0W5 MA?75U.TR0-&^(XV$IRD9(W?+MQDC.3GT%17.C7>:0R MW_;UKY>[RY]V>8]GS!<;MV/3!S6DC*Z*ZG*L,@CN*YV?1;Z>)G80"=@(_DE9 M=JA-N<@FK6KI:, M&;_2SB)2.3[D=A56PT^[6XBDO%AWJ6DD=)2Y=R``<%1@`9`%31Z?*EG91%DW M02AV.3@CGIQ[T`:5%%%`!1110`4444`17$Z6T#S2;BJ#.%&2?8"J0URT\J61 M_,C$*EI`XP5.<;>O4GI5N\%P;6069C$Y&$,A.T'WP#6=8Z7-%:7B2K&DLZ[` M1(7SP>2Q`.2S,>E(9;_M.'[5%!LES*!A]ORY()`SZX!J[62]A=/>V;$0^7;; M2)`Q##Y<,N.ASZUK51(4444AA1110!%<3I;0/-)N*H,X49)]@*I/KEI'!YLO MF1CYPRL.5*]0>>N2!QZBK=X+@VL@LS&)R,(9"=H/O@&LVWTR<1RK*D2,;=HU M(E+Y9B2S$E1UX[4AEU=1C>Z6W2*9R45RP7Y5!SC)S[57L M)N%)\S"C!7IR#^'TK9JB0HHHI#"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HKBO$'B_4-+UJXLX(;9HX]N"ZL3RH/9AZUL>&=:N-7TB>[N4B62. M1D`C!`P%![D^M#T'8W:*P-/UV1[-;FY:*4/L58[6-MP9NQR:LMX@M5D:,PW/ MF!@JIY?S-DX&!GU'?%`C6HK!F\1H!)Y";VVHT:E3D`G#%O3!X^M3V>NPSO'$ MZR%V8*75/D!.<#KGG%`&O16+?:M+;ZLUL)K6*)$1R958LV>GZT=+A;6QM45BKXELEC_>[]X0%MJY!;`)41D=<\9^E`&S169J&K"POX('C9UE0D!%RQ;(`'ZU"OB&W M)D=HI!$%0H<#+LV>.OM^AH`V:*Q_^$CLV($45Q+G:,I'D;FZ+UZ\'\J3_A)K M$*"4G!8!E4I@LO/(YZ#!H`V:*PKKQ"BRQBU7=$V321128*\@O@!AG&1^-9YUNZL[V6+4# M;E(VVX@1MS?+NSR<8`-`'045CMXDLP3MBN9$&<.D>5.!DXY[#FKUC?1WT;M& MLB;&VD2+@]`1^A!H`M445B:UK%QI]VD4*1,IC#?."3G)'K[4`;=%9.AZG-J/ MG^\#>\9PZ\Y*G\.]!U^U%N93#"%(R&ZXQCWH`UJ*P[C6Y%TZ2ZB\H` M7(A5G5BNTXY('/>G6GB")[97G4ELMO>%2550VW<<\@'\Z`-JBLE/$%JX^6*X MW''EKLYDY(^7GU!ZXI#K#IHD&H/&`7=0ZX/`+8/XXH`UZ*QI/$,'V9WBAG,P M4LL1CY(V[@W7IC\:D&NVRO##(&,TB*Q"#@,PR%Z]30!JT53L=2AO_FMUD,>/ M]85PN>,CZ\_H:N4`%%5-0N7M8%>,*26Q\WT-0Z??RW4[)(J`!<_*#ZB@#1HK M-N+N]>\FAL8H6%NJEQ(3ER><#TX[GUK*'B.Z"2/_`*)*0LA\N,G=%MSC?SWQ M[=:`.GHK(EU:6+4!;-%&`9`H.XY8';^OS9^@K7H`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@#E=:\&?VMJLU[]O\KS=OR>3NQA0.NX>E:> M@:(-&TV6S-QYXDD+EMFW&0!C&3Z5KTR1/,C9"S+N!&5."/H:&!7&GQ"VM8-S M[+4J4.1D[1@9XJE;^';6WN5G$TQ9&#`?*!P<\X7)Z]3S62\>&2#*HJO\`NE+L0P!`P/3/)^GK0M7<-M![>&K) M@,23JPQ\P89(&3CITY_05-!HEM;XV/*<2+)R1U7..WO67:W%W!:W5^1<2%7< M(9;C,;?O-H&WMC^E++XCN[=YA+:*X0M&"@(!<8YR>HSVZT`;K6,+RW$C[F^T M1B-U)XP,]/\`OHUGIX=@C3"7,Z28*^8H0':1@KC;CIWQG-,_M&XN-/CD=3#* MMY'$^W*Y&X=NHR#TJ&+7+UVBC,5N'N,>4><+\Q'S>O3MB@"P/#5F&.))0A_A M&WKQDYQD].G3DTZ;P[:S74D[S3`NQ;`VCDXSSMR>G<\52?Q#>);F;R;9@SM" M@1R?F7J2?[IY_2I&UV\@29IX8'V"15$>[ED=5[]CN_2@#4NM-ANKVWNI&D#P M?="D8/(//'M55O#]L8M@EEQ\N,A6`*DD'!'/WB/2JMS?W5WHQ8I)%.+I(6$; M&,M\PZ9Y7(/>I#?3:;"8FC4X=). M2.2N<=O>H9?#=I((B)95>*,1JQ"M\O/8C&?FZ^PJM%KEZ[Q1F*W#W./*/S87 MYB/F]>G:M/1))9=)@>9]\A!W-G.>31OJ&VA6;P];-A?/N!""2L0*X!.,GIGM MZ^M)#X=MX9"Z3SAL@@@(,8;3GN%21%(49SZ< MGW.:+W0[>\F>9I)$D9LY`5L?*%(`((Z#\ZU**`,P:':K%Y8>4+^\_B'\:[3V M]*MVMI':^9Y98^803N/HH7^2BK%%`!63JNC?VCH'\/021>5)=7+QC=L5MF$+')QA>?QS6Q7/S3 M7?VVYMY+I]CW,2!H_EV(03@>_`&?>@"S#X>M8HY5\V9C*I!/RC!R#D```]&*O(S$X3>,@`]``,=N>30!>M]%Q-=LY:,2QI"C(^6VJ,;C MQC)P,C':K$>CVZ6,=H6=D27S>PRU#\P0@\,VJ*ODSW$;+'Y>X% M22OS9ZCON/Z5*?#]H85B,DVU6+#YAG)Q[>PJD-=O7^S*D5OF[P8B=WR#=CYO M?O\`G2Q:W?21QCRK99)C%L/S84.6'/K]W]:`+4VA(UJ\2W$[*N3#&S`*G7`Z M>IZGG%1#PU%+!']IN9GF"!68A#P%Q@`KCCG!QGFH?^$AN3#).((O+A81NN3E MG.>5_P!GC^=-?Q!?1A8C;1/.P#@H&*A2F[&/7WH[CZFFNC0I9BVCGG0"42AP M5+!ACU&.WI49T"`EC]HG)ESYY)7,P)S@\-(HE<.(SR64J` M.YD5V+Y&TDX&`._?()_&F(A.A6X$1CFF22%<1N"I*_,3GI MCN1]*EDTB"32TL'DE,:D'?D;B0<\\8Z^U:%%(#*ET*!VWI//%)L";U*YV[=I M'([BA]!MS<),DLJ,JJ/E"Y)48!R1D?AQP*U:*`*5AIT>G@I!--Y1Y\MB"`>, MG.,YXSU[FKM%%`%:]M?M<(CW[,-NSC-166G_`&28R>;ORNW&W']:O44`9]WI M:7,[R"XFA$JA)EC(Q(HSUR,CKU&*>-,@&EMIX9_)8,,Y&[DD^GO5VB@!!P*6 MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"M-86 M9K:$R2+M=B@)8>AHHH`6.SMHH5AC@B6)3N5`HP#G.?KG MO2/8VDD9C>UA*$;<%!C&]$]G;7+HUQ;Q2LGW M2Z!L?3-%%`"/8VDD9C>UA*$;=I08QG./SYJ6**.&-8X8UCC7@*@P!^%%%`#Z M***`"BBB@`HHHH`****`"H9;6WF6198(W$F-X90=V.F:**`'B*-8O*$:B,+M MV`<8],>E1-8VCRI*UK"SHNU6*#('I110`EOI]G;$-;VL$3#H4C`/YTL]E:W, ML.#&#TX'Z<44 M4`.:SM64JUM"5.<@H,<\'\ZE5510J@*H&``,`"BB@!U%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 D4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!__9 ` end GRAPHIC 10 tf1_a0415x19x1.jpg begin 644 tf1_a0415x19x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M\`*K`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`K+U_4I=-LE:VC66ZFD6.%&Z,Q_^M6I63JFAQ:M?02WDA>W MA4@0#(RQ[[@:0R*W\10'1K:\G1S+,WE^3$NYC)W`%1:7XD6YE=+J,Q![IK>$ MA",8&0&R>#4?_"*>0Q:QO/)$"V>FW'!JO+X94I9)#=>4+6%XN8@^\L.20>.O;FJL'@ M\);W"2785Y2I7R8]JHRG(;:2>5+B(P%1)%)'M==W0XJS)J MJ)H\NHF"9%1&;RY5VMQ[=JS9?#4MW%7PDNK@IND6+"JJG(`7-;EW;1WEI M+;3#,QO"MQJTDMO;J5BC1-F>,#<0><5GMX+7EX,[>2F>_P"E+::_:7EZ;:!) MVPQ3S?+^0D=>>WXUGW'A5Y[^*X:\0!"C;E@"R#;C@,#_`#R:?!X9>/6UU!KI M#LI'0@`DBK-S;2?VK!0?9G"*L@VER0,<'IG(J(^($2-YI+= MEAV2/$^\'S-G48[>U3MI9-Q))YV4EN5G9=O]U0`/S`-0+HDJX3[6HCB$@@'E M`E=YS\V20V.G04#+FF7W]H0&4+$`#@>7,)!^8J.^U*2SEYM':!2@>7=CEC@! M1_%[TV+2`YGDOI/-DF96;R=T2C`P.AS^M1?V+)'>K-;W*>2ARD,R/+M;NP)? MK_*CJ+H.N-8EB^T-'9-)#`6WR>8%&%`SVZYR,>U$>N))J*VH@8!F"ABPW9*[ ML[>NW'?UICZ/&-S!O MPHG7>VTX^[U&:LOIRE;!4?8MFP8#&=P"E<>W6JYT^YBF%R\JSFW60P1I$$9B MW9CG!_(>M#`=:ZL+K45AC5?)>(2(P()/`/(SD=>XK4JKIMJ;+3K>V)R8HPI/ MJ>]6J;`****0!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`R218HVDY>YVSQR1M-;Q(5#(%)RIP.NWGGTKJ[^T2_LI;61Y$25=K-&0#C\0:HOX< MTTFV:*`0/;L"'B55+\8PW'(-`RK<>*[6)972)I(XXXVW!@`6?HOMQR32+XJA M.E7%Y]G)>WD6-XTD5AR>"&'!%3Q>&-/BTR6Q3S?+DD\S?N&Y6'3!QVIP\/P- MI\EI-AVCDCWIY M\4?O%9;"1K5[D6R3^8.6SSQUQ4MQX8M;B\EN#<7*>;(LK(A7&X=#R,_A64WA MZ_?5$41&.U6[^T9%P#'C.>$QD,?KBA=/Z[?\$'U-&V\5VUSJ:V@BQ')(8DD\ MQ22P]4Z@'L:F\3ZE+I]E$EK*D5S<2".-WQA?4G/&/\:=;>'K>UOOM$4]PJ!S M((`P"!CU[9(]LU8N]'M+Z^BNKI3-Y2%5BIP1UI=$/J9=IXF8Z-8SO"; MFYFE^SLJ,%^?^7/'YU)_PD^+=&-A)YYNC:F$2#A\>O0U,/#-BER)HFEB43K. ML2%0BL!C@8X%2?\`"/VGF!_,FR+LW?WA]_TZ=/\`.:?]?E_P1?U^?_`*]CXE M6ZOHK-[1XIF>2-P7!",@R?KUIDOBD)IEO>I9Y6;?P\RH!M..IZD^@J:3PS:M M<&XBN;F&8S/+O1AGYP`P''3BF'PI9B&VCCN+E/(5T#!ERRL22#Q[]11T&)IF ML2ZAKJHC%;22R698R!D,6QUZU%J;ZK%KUG:0ZJR17AD('D(?+"C.!DU\27JVUW-=60(2Z,29F1%7V))[>O?-7AX: MM!="3SKCR!+YXMM_[O?ZXQG\*CE\+6TDSR+=W*%IS.H!4A&/7`([T?U^7_!` M@M-?EU'4]*\C,4%P)1+$<-DJ..?\*=XGU.YL;ZPBANWMH91(9&2$2'@#'!!J MW9>';2RGMIHYKAFMRY3>P.=_7/%7+G3H;G4+6\=G$EMNV`$;3N&#GBCL'KK^%[,JZQ2SQ?OO.C"D8B;OM&.A]#3_`/A'8,6A%U<[[9F(XMV7[:)"!N^[L_QQ5:/Q3+);6]Q_9KER<_ER.]6+ M3PQ:VLT$@NKIUM]XBC9EVH&!R.GO4ZZ#:K:6-L))MEE()(SD9)R3SQ[^U`$N MD:E_:<$K-`T$D,K121E@V&'N.M:%5+'3XK`W!B9V^T3-,VXCACUQQTJW0`44 M44`%%%%`!1161JNHW-IJ-E!$(DAF;#/+D`]?E!Z`_P`Z`->BL1]5O4NFM6B@ M$KLH3!)$>XGAO4X&>,4^75IS96SP11^=*CNRN3@!!\P'X]*.EPZV-BBL!M?E M"F988S#(62$$G=O&/O>V3^E:FGW$EQ"_G*HEBD:-]G0D=Q^E`%NBH\2_WT_[ MX/\`C1B7^^G_`'P?\:`)**CQ+_?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_`+X/ M^-&)?[Z?]\'_`!H`DHJ/$O\`?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_O@_P"- M&)?[Z?\`?!_QH`DHJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/\`O@_XT8E_ MOI_WP?\`&@"2BH\2_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_`(T8E_OI M_P!\'_&@"2BH\2_WT_[X/^-&)?[Z?]\'_&@"2BH\2_WT_P"^#_C1B7^^G_?! M_P`:`)**CQ+_`'T_[X/^-&)?[Z?]\'_&@"2BH\2_WT_[X/\`C1B7^^G_`'P? M\:`)**CQ+_?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_`+X/^-&)?[Z?]\'_`!H` MDHJ/$O\`?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_O@_P"-&)?[Z?\`?!_QH`DH MJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/\`O@_XT8E_OI_WP?\`&@"2BH\2 M_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_`(T8E_OI_P!\'_&@"2BH\2_W MT_[X/^-&)?[Z?]\'_&@"2BF*'!^9E(]EQ_6GT`%%%%`!1110`4444`)6?I^M M66HPSRPR[4@?8)A&]O;W9NFGA,9.U`P`*YQZ9[>E+=^&)61H[4LT9E'\` M89_*N8_X1R_%O!D6<[)')'Y4G"J&/#`A>6'WU:SGA\WSEB4R-&/-8+N M(.#CFL]].U2UO;MM-DMA%>2"0O+G=$>^!C!K.O/#&H3P>2KVK`M*='YV,^7N&['TJI>:Q9VEHUP)!.JN$(A96()_$`?B: MQ4\.7B:GYX-N$;[Y+%@?DP1@C(.>X8<=JET7PY+;+-%>[/(=5`6.0[LC/.X! M2%YZ$F@1T43B6))!P&4,.0>OTXI],CC2*)(XU"H@"J!V`I]`!1110`4444`% M%%%`!1110`4444`0W5S':6TEQ,2(XUW,0,FL]/$%F]N92DZ%95B:-TPZD\C( M],`W`MG>.1YWD$C,99"N%+9`]3T MZ4`6T\36+12.4N%*!2J-$0T@8X4J.^34T>NV3Q029=%E+@[QM\O8"6W9/&,5 MCG0=5FMKH7;6DMQ.ZN[B1OW@4YV?=&U<>E6]&T2XM)D-WY30QQN(XU)8(7;) M'(Y``'/O0!:_X2*R.GI>H)I(I)3$@1,LS<]!^%:-O,+B!)1')&'&=LB[6'U' M:L!M"N5TM;W:A M`R[6;J6DIJ-Q;R//(BQMET4\..?RZ]?2M*B@#+7152-E%[.*L44`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`R6/S M8RF]DS_$AP15?[#_`-/5U_W\JS(I>-E5RA((#+C(]^:Q-),BZ8T'D27:-<31 MNS.,@;R,G)&?PH`TOL/_`$]77_?RC[#_`-/5U_W\KG)WN[,2GSO,%A,MO"S8 M^16`)=B>,@$+D\=Z;<>(+Y+)2)T615D8,`F)`IP.2<'TPHHN%CI?L/\`T]77 M_?RC[#_T]77_`'\JKHUSKK_OY5NBD!4^P_P#3U=?]_*/L/_3U=?\`?RK=%`%3[#_T]77_`'\H M^P_]/5U_W\JW10!4^P_]/5U_W\H^P_\`3U=?]_*MT4`5/L/_`$]77_?RC[#_ M`-/5U_W\JW10!4^P_P#3U=?]_*/L/_3U=?\`?RK=%`%3[#_T]77_`'\H^P_] M/5U_W\JW10!4^P_]/5U_W\H^P_\`3U=?]_*MT4`5/L/_`$]77_?RC[#_`-/5 MU_W\IU^;E;.0VBHTVTX#$C^0/-8M_-JG]@1I+`^^2,^=)"^<8)/7TYI M7&D;'V'_`*>KK_OY1]A_Z>KK_OY6'>SBYL-+1I8HH?NS^>HR1 MVI(+:&_;2HWA*R-'YLK%F)*+@`9/8DC\*KK8GIHR, MTEL-[DU%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%0W-S%:PM+,P55_7V%`$U%4K#4!=L8WAD@E`W;''4>H- M9\>I7W]OW-L_E[$3,4##:TG7!5NA]_3\*`-VBN>EUJZ73[-L(EQ.9-Q6)I`H M0GH!SZ<_6K%[JL\+6I1HUADB\R6;R'E1>F.01@ZE5[88C'Z4`7J***`&2R>5&7V, M^/X4&2:K_;O^G6Z_[]U)>W*V5E-..(D<*(YPX8 MXZ$CI0`\WV1@VESC_KG1]L7C_0[GCI^ZZ54CU^V?R_E*_*3/N/,)SC:1W8MP M!5A]9T^.))&N5VODC"DD8ZY&,C'O0!)]N_Z=;K_OW1]N_P"G6Z_[]TZ"_MKB MXD@AE#R1_>`!P/QZ59H`J?;O^G6Z_P"_='V[_IUNO^_=6Z*`*GV[_IUNO^_= M'V[_`*=;K_OW5NB@"I]N_P"G6Z_[]T?;O^G6Z_[]U;HH`J?;O^G6Z_[]T?;O M^G6Z_P"_=6Z*`*GV[_IUNO\`OW1]N_Z=;K_OW5NB@"I]N_Z=;K_OW1]N_P"G M6Z_[]U;HH`J?;O\`IUNO^_='V[_IUNO^_=6Z*`*GV[_IUNO^_='V[_IUNO\` MOW5NB@"I]N_Z=;K_`+]T?;O^G6Z_[]U8FE2")I)&"JHR2:J7.JV\&F?;@?,0 MJ"BKU8D9`^M`#C>AA@VER1Z&.E^W?].MU_W[JO>ZO':6EM*53=<`%1)($4<9 M.6/2E_M=/,L8_L\H:[[X^5."?O=">.U`$IND8,&LK@ANN8NM.^W?].MS_P!^ MZI6^NK<3-"EN?,\P(B[^HRP)/'!`4G'T]:V*`"BBLS4-4>UU*TLXK?S6G/)+ MA2!STSUZ?YS0!IT5DW.N1P1W+F$CR)5B'F-Y88MWR>@]ZDN=4,%M!(L`EDE4 MOL20$!0,DAN__P!>@#2HK';7XE+,(&,)R(G##]XPQQCMUZ_6K]C=&[A9FC\N M1'*.FBW6G[O,C'[Q"<^:O?/O5VVU*TN8]\J2>4B36=N!^\9UP[>PH`NWE[!91AIFY/"HO+,?855^W:B MZ_N]+8$C@O*!CZBIK;3+.S?S8X_G`^\[$X_/I0VKZ:JECJ%K@Y79PQ#Y'&>O3/MQ5..6;_A,+V*.]KK_`+^4?8?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?\`IZNO^_E`%NBJGV'_`*>K MK_OY1]A_Z>KK_OY0!;HJI]A_Z>KK_OY1]A_Z>KK_`+^4`6Z*J?8?^GJZ_P"_ ME'V'_IZNO^_E`%NBJGV'_IZNO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[^4?8 M?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1]A_Z> MKK_OY0!+3?&" M-NQ&7*D9RV[US@?D*T+6$V]K#"SF0QH%+GJV!UJ+[#_T]77_`'\H^P_]/5U_ MW\H`MUDZQI4VHW%J5G"0QN&=2N2,9Y4]CV_7M6M10!0FL9C)-+!.B22.CC?' MN`VC&#SW]1@U3.CW'EQ0QW$:+#&45S'DMOSOXSQV(_K6W10!AMX?R&C%SB%2 M6A79RKG').>1Q[=:TK"V:UA<22"221VD=@,#)]!SQ5JB@"/RE]7_`.^S_C1Y M2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4OJ_\`WV?\:DHH`C\I?5_^^S_C1Y2^ MK_\`?9_QJ2B@"/RE]7_[[/\`C1Y2^K_]]G_&I**`(_*7U?\`[[/^-'E+ZO\` M]]G_`!J2B@"/RE]7_P"^S_C1Y2^K_P#?9_QJ2B@"/RE]7_[[/^-'E+ZO_P!] MG_&I**`(_*7U?_OL_P"-'E+ZO_WV?\:DHH`C\I?5_P#OL_XT>4OJ_P#WV?\` M&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I**`(_*7U?_OL_XT>4OJ__`'V?\:DH MH`C\I?5_^^S_`(T>4OJ__?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:I3:S M:PSO&PD*H<-(JY53Z9JW;74%VA>WD5U!P<=J`'>4OJ__`'V?\:/*7U?_`+[/ M^-253N]1AM9%B"O-,W2.,9;\:`+'E*.[_P#?9_QJ![BS1&9KE<)][$Q./UJG M*+G4\+-$UK9J';9#,\MG^Z[*X8Y^@/)H`=;VAU5C<7>\6N M?W,)8\C^\:?)I-C;CS)YF6U3GRY),1J?7FN6":CXVO7(=K738CA>,C/T[M_+ M^P5MVW+;L^R\@'WS0!J7GB?1+*`M!,9W7Y5CB9N?QZ8K*_X M2Z_O&V:9I$K,.N7>3]!C%;UMX3T6V='6S#NG(9W9LGW&-9,N9?+/9-Z?_7KN**`//YV\1>')(;V^G>ZM MY#B1/.9@OM['T(XKIXAHVLP+-%)&YVAVQ)\ZCT89XK4N;>*[MW@N(Q)%(,,I M[BN3U#P'"S!M-NG@)X99#N&/8]:`+4OB[0[>80(]PZ+QOCSL'Z_R%4M3\5FY ME2S\/QRW$T@_UAWTFV5!'8Q93HQ&6_/K5Y8$50J[@!T`<\?K4M%`#%0*<@M M^+$U"MC;)>O>+"@N'4*SXY('^?T%6:*`*TFGV-E5RA((#+C(]^:Y:$1K:VL5[*39_:[A97E M?AB"VWZ-!#+%-&R1B2* MZ9AD,/NG&<].M9KZE>VZ0W8D1)+R$SL[;0IQ]V,;NP'8F=W7N<"M[1WGETR":YF\V25 M!(3M"XR`<<4OVT9)^R7.3W\NE^W?].MU_P!^Z`+=%5/MW_3K=?\`?NC[=_TZ MW7_?N@"W153[=_TZW7_?NC[=_P!.MU_W[H`MT54^W?\`3K=?]^Z/MW_3K=?] M^Z`+=%5/MW_3K=?]^Z/MW_3K=?\`?N@"W153[=_TZW7_`'[H^W?].MU_W[H` MMT54^W?].MU_W[H^W?\`3K=?]^Z`+=%5/MW_`$ZW7_?NC[=_TZW7_?N@"W15 M3[=_TZW7_?NC[=_TZW7_`'[H`=?FY6SD-HJ--M.`Q(_D#S6+?S:I_8$:2P/O MDC/G20G+*H7OG&"3U].:V/MW_3K=?]^Z/MW_`$ZW7_?NE8:9E7$]I..1D^E9DACH^V@D'[)3Z(/6 MNEM9Q5XDD4NGWE!Y%$LT4,9DED5$'WZU++XDT.)0;+2YIIN@$QPO\`,Y_*@#JCKMF01%YDDF<*BH29H+"W`RSLQ+JO\JYYM6\6W2K#%I@@:3[DBPE=@],L<#\:DC\%WUYB35-6 M=F)RR#+_`*D_TH`@M_%5U`TB:5IAGL(FP7VL78^I(X&?I5W3-8L]8N=UI_Q+ M]2'2-CE)?;W_`"S72Z=I]MIEHMM:1[(QSZDGU)]:R/$/A:#53]IMF%O>CG>. MC_7'?WH`N?9M1NGS[\06&@2M;P(VH7S-^]8''/IGG\ MA5,>$M9U*3.K:D`(AB-@3(?Z?GUKYD%&^_/\`RS@'U)H`N453WWZ]8X&_W21_.C??OTBA MC_WFS_*@"Y15/[-=./WEV5]D7'ZT?8`?O7%P3_OT`7**J?83VNKG/_72D\B\ MC_U=RKCTD7^HH`N562_M'O7LUG0W"#+1YY`IT'VDL3<>4!C@)G-<_%#N\47$ M(MI/*E4^<)$X`(;YE?MGIC/<^E'4.AO27]I%`L\ES$D3':'9P`3]?P-.FO+: M!HUFN(HS*<(&8#=]*PMK6FBVL"VD@E+R(KB!G\A23DX`)Z=!1=R6\@BL(;>Y M\M4$,L_V:1BJ``A1A>IXZ].:`-Q+ZT=F621- MC2`X^8C`QZ=!TH0,U****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***J7>I6EE/##<2['F.%&"? MS]*`+=%5I;^UB$I>91Y+!7QDD$]!@=Z2;4;2"WCGDG412?<;DYXSV]J`+5%5 M&U*S666-KA`T2[G]`/K^(_.IK>XBNH1+`^]#GG&/T/2@"6BD9@JEF(`'4GM5 M8:E8L2%O;SVL+L>B M1F1OQ8D4`6K_`,36EO&?LY\V0G`!!`_Q/X59&LP_98I2C,[C)1?X?KFFQ:%" MGW[FXDXQ@E0/T`K%MO"%U->'^U[W[1:(?DC1B"_/\7`Q^'YT`79_%=M'E285 M<=C)N_PJM;^,(Y[GRD9"?=2!^>:TY/"^B21K&VGQ@+T*EE/XD')K.UWPE!+8 M)_8\*07,+%EP<%P>HR>_IG^M`&L^KJD+$Q,9OX40[@Q/N.U9D%[ID0>&]1[B MZ9BTK+`S@-Z`@=O:L-'\1K$UI'HR)*YP9_*Y^N2=H_E73Z1HKQV.-5?S[ESE ML'`7V&,4`95QK=Y;_N-#TH1Q9YDGXW?AG^9JMJ$&OZP%BE,5O;-_K$MU;YCW M)]?IG%=G!;06Z[88E0>PY/XU-0!S5MH>F16$-K)IDT_EG=YCIAF8]3P?;I6C M`MO;L&MM)\IP,`I"J\?45J44`4_M-TWW+,_\"<"CSKW_`)]5_P"_@JY10!3\ MV^/_`"[1CZO1OOSTBA'U8U2<27"H/2-?ZFE73K8@%.HH`****` M"BBB@`HHHH`****`"BBB@`HHHH`*3`SG'-+10`4@4+G``R4+<0EO(9I!)N&)<[2%'.>Q'/H*W-+BECAF>6,QM-,T@ M0XRH/3..,U=HH$71/KNQ^@XKHZ*`,_3](M]-4BTCC1F^\Y4LS?4 MDYJYB7^^G_?!_P`:DHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\` MC1B7^^G_`'P?\:DHH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&) M?[Z?]\'_`!J2B@"/$O\`?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_O@_P"-&)?[ MZ?\`?!_QJ2B@"/$O]]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/\`O@_XT8E_OI_W MP?\`&I**`(\2_P!]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/^^#_`(T8E_OI_P!\ M'_&I**`(\2_WT_[X/^-&)?[Z?]\'_&I**`(\2_WT_P"^#_C1B7^^G_?!_P`: MDHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\`C1B7^^G_`'P?\:DH MH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&)?[Z?]\'_`!J2B@"/ M$O\`?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_O@_P"-&)?[Z?\`?!_QJ2B@!BAP M?F92/9_@^T1HK3HSW$@? M!&1\KJ",'.><$C-=,(HU+D(H\PY M;C[QQCG\!1Y2"1GVCWMG-:.!G..30``,`8`H$4O[:TK_`*"=G_W_`%_Q MH_MK2O\`H)V?_?\`7_&K(N8")")H\1G#GV@"$W,/SC*_O!\WT]:`(?[:TK_H)V?_?]?\:/[:TK_H)V?_?] M?\:O44`4?[:TK_H)V?\`W_7_`!H_MK2O^@G9_P#?]?\`&KU%`%'^VM*_Z"=G M_P!_U_QH_MK2O^@G9_\`?]?\:O44`4?[:TK_`*"=G_W_`%_QH_MK2O\`H)V? M_?\`7_&KK,$4LQ"J!DDG@5";NV6)93<1"-N5E24`4?[:TK_`*"=G_W_`%_Q MH_MK2O\`H)V?_?\`7_&KU%`%'^VM*_Z"=G_W_7_&C^VM*_Z"=G_W_7_&KU%` M%'^VM*_Z"=G_`-_U_P`:/[:TK_H)V?\`W_7_`!J]4HH`H_VUI7_`$$[ M/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"-']M:5_T$[/\` M[_K_`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU:DFBB9%DD1&< MX4,P!8^WK2B:,MM$B%LD8##.1UH`J?VUI7_03L_^_P"O^-']M:5_T$[/_O\` MK_C5J*:*9-\,B2+G&48$9J2@"C_;6E?]!.S_`._Z_P"-']M:5_T$[/\`[_K_ M`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU>HH`H_VUI7_03L_^ M_P"O^-']M:5_T$[/_O\`K_C5J6:*!0TTB1J3@%V`&?2E\V,])$^]M^\.OI]: M`(;?4+*[D,=M>6\S@9*QRJQ`]<`U9J..>&5V2.6-V3[RJP)'UJ2@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`*2EHH`Y*YMY;B2ZAM+>6-9U5,- M$4\ME+-C/1LXSGW'-(\&Z/SEANH8UV^6%MMW[P1[>5(/?C..W45UU%'2P^MR M.W+FWB,JA9-@W`=`<Y_.>#R'0*J`*$&0-QP>W6KT%I]ID@4VI$#W4DP+1XP@Y4_OR$<+(ZL&;)W';SR:T**`"BBB@`H MHHH`****`,76ECDNX(6MY3O`+SI"\FU0P.T;0<$D=>PJ*"T/FVMV\$KO+',T MB\\!N0N#P#SC\/:M^BCH!D:`A4W;+&Z0O(I3?$8S]T#;M]L8SWK7HHH`**** M`"BBB@#)U_:88T-N\C2;D$BPM((@1RV%!YQP*KV]B19Z9+Y M1ZXP,FMZB@##T.-XKR9$6;RL%G,T(1E_V9+/H%A9 M2JJO$L/FJ6_NXW#(^AH&6XM1MWC+3-]F8#)CG9591ZD9Z5(][;(/]?&6VEPH M<$L,9X'?BLBYT)PT[6B0_.\93A@C7EU:VC6$_,QE&0%P2.`>>>.#5E;J!Q(8YDD\L98(P)%<_\`\(]= MK:16RRPE8F8AV)W-D#.>.>0>?3%7=/TB2T;)\H9MVC;;GEBQ.>GO0_(2\RU9 MZK%=0&=H9K:$*'$DX"J0?0YJ6>_MH'@1I%+SL%15().>_P!/>LN30"FCP6\& M!/&8VDQ(0'*CG!(./RJJOAV[6)808,,58RER6BP",+QSU]N]#!'0B\M2H87, M."VT'>.3Z?6F"_MGFBBCD64RE@"A#`%1D@FL*S\.W,1E5*A78R#.S:# M]T#KV]*FTG1;NUOTN9S$%7JH?)^[M[*!0!KPZC:RHK>:J%V9%5V`)(8KP/J* M(-1M+A08[B,YW8!8`G:<$X].*R&T&=D?<8"VQ@I)/!,N_P!/3]:J'PU>&XE. MZ$*[EE(D("CG`QM]_7UZTAG1_P!H67_/Y;]"?]8O;KWJ7SX?,6/S8][C)?-4#RHU+JY&PJN.!CG\QWI MB1MQZK:RW3P1ONV?>D!!0<9ZYIYU.R$BI]IB^9#(&WC;M!QG-83Z#?.6D5+. M([-H16+`X4+GE<KH59$&3(1M*KC&,1+?*/ M(S*=Z\@GZT`=#<:C'!9171CE=92H1$`+$MT'6EM]2MIXDOBBQQ_9T3)(02'$?S!L;BN M6'Y6I(`N822VT`..3Z?6HX-1M9XT<3(A<%E5V`;`SDX_"LJ'1)[; MR=D5I*=FR3?G"G?NW#CD_ET%5QH-VDT33&!H(B&?:3DJ,Y&-N6//K^%`'1M< MP+*L;3QB1ONJ7&3]!5:35;6*ZN;=RP>VA\Y^.-OM6%8Z+>.+:Z&PR%@6>3(. MQ2`N5(.?E4'L03UJ]J&B3W>I/^M[BUCN% MD"I(JL`Y`(R,C-`OK=G0)*LBMNRZ,"JX&3DYK";0KX0);J;-A&<=< MTZ6]MH5RTR$[#(%##^7[N3C=P<].U'0?4V+G68+;RLPW$@>+SB8T!V)ZGGWJV M+NV.?W\0(4,06`(!Z$^E8VHZ)-="W'E6\WEVODG?,R;6X^88!ST]JAF\/W_T]ZD6ZMW&5N(F'/(<'IU M_*N>'AZ[$8A!M\,P8R[CNCP",*,>^>H[TQ/#EV;?83`I#*WS.7SM4@#H.#G! M]O6@#J$='SL96QP<'.*=44*L-^^.-"3GY#G/`Y/`Y_PJ6@"E<:E#;S-$ZR%E MZX`Q_.I;>[CN(6E7*HI();CMFLZ_L;F:\DDCCRIQ@[AZ"K-E9N-/FMYQL\S< M.H/!&*'MH"(_[8O'*\^XZXZTG]O6JY$T5Q%("=T;Q_ M,/E+9P,]@:A>QU.YTYK*8V\:+#Y0*N3YAXPQX^7@=!GK4\FC0^?`T2_('9IC M)(S,X*%>I)/?UH8+S+=K>PW;2+$6RG7(QGDCC\01^%6:KV]G!:L[0IM+_>^8 MGN3WZJ37-O8RSVGE;XU+D2@D$`$]CUJY4=Q"MQ;RP.2%D0H2.N",4F-;F3;Z[Y: ME+Y&\X(7S%&0I``)QDY.`?IZ58NM5C72)KVV*G:C-&'Z/COCKBH/^$;MO.:0 M7$Z[@1\NT'!&#SMR>/?CM5@Z+9FS-L5)7:R(Y`+QJ?X5..@S38D4X/$"1JWV MMTE.TOOMHV"JO3G)ZYX_&IO^$CT_"99P22&&!^[YQSS[]LU9O-+@O6D,I?YX MO*(!'`SD'IUS5/\`X1NURC&63>/OL%0;AG.,;?E_#%`$^H:L+"_@@>-G65"0 M(QEBV0`!^=$>N6DNTJLQ3;N=]GRQ\$X;T/!J:ZTV&ZO+>ZD:0/!]T*1@\@\\ M>U5X]"@BRB3W`A88DC#`"3J.2!GH>GL*.@=1K^(K1%&Z&Y#D;MGE_,%QG=UZ M8S^5)_PDEB'".)D;/S!DQM'&&//0Y'O3ET&#):6XGED*&/>Q4':5V@<#L#^= M-E\.VDMR9_,E#-M#\*<@``#DP6\4EM&)$9BTRLW(( M&!@^]/;7;9(X3MED>4`JJ)R3DKZ^HJZ;9#>)=9;>D9C`[8)!_I5&+08([A)O M/G;RVS&A*X49+8Z9ZDT(!AUV*62V2UCD<2R(KLRX";L\'WXK8K*AT*""6-HY MYU1'#E,KAV&<$\9[]O:M6@`HHHH`****`"BBB@`HHHH`K:A<26MC-/%"9G12 M0@(&?Q/:L]=8F,\68XQ!F))#D[MSC.1[#C\ZU9HEF@DB8D*ZE3CK@BJ)T:W, MR,7D,:A=T1P5W?3K0OB"S?S M!&)9&3H%7[XSC(YZ9]<5<^PP++;O&@C%ONV(@`7YNO%9I\,VN&"RR`;@4&U" M%YSC&WYO^!9[4`6+?6[:Y$AA29ECB\UFVX`&,XSZ]?RIL-_=QV_VN^CB%LT8 MD7RLED)QA3_>)SU&*FT_2;?3XI(HVDD60!6\PCH,^@'K4*Z'$8S'+=7$J*GE MQ!BO[H9!XP.3D#DYZ4`-?Q#:1MM:*YWK]]1'DQ\@<\^I'3/6B/Q#9NS!DGC5 M#MD=TP(VYX//7@TY="@S(\DTTDLN/,P'TJ!/#R->79FED:UFD$ MGE9&&;DG/&>">,'TH`E;Q#:J!F&YWD;O+\OYMN,[NO3'\J'\1Z>C.-TC!1D% M5SN/&0.^>:='H4`?S))YY9-ACW,5!VE=H'`[#]:B'AJS#'$DH0_PC;UXRG3IR:.H"3:U),QBM+>8.$8MN3+*0P!&!GG!^G2M6T>62TA>==DK("ZXQ@XY M%00Z;%!>&YCDEW,7+*2,'<03V]A5VCH'4****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B =BB@`HHHH`****`"BBB@`HHHH`****`"BBB@#_]D_ ` end GRAPHIC 11 tf1_a0415x1x1.jpg begin 644 tf1_a0415x1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@# M^`,+`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHJK=7L=M\N-\F,A!_,^@H`M45 MD+)?WHRGR1GNORC_`+ZZ_D"*?_9MT>3>G/N-WZY'\J`-2BLA[74(,M'/(_N& M#?\`CIP!^M+!J[(=MX@`!QYB`X4_[0/(_P`\`HWHM4")@S/]T'H!W)]J@L+`,/.N06+G(5N_NW]!V^O-5[11J& MHM/("5SP#V4=OS_]!/K6AJMS]ETZ:4':VW:I_P!H\#]30!3OM6D:X6TT\*TK MDC>PR!CK^56$M)=N9;N=V[G=M'Y"L'PXP>^D9R"Z)L'TSD_S'%='<7<%O%OF ME2,?[1Q0!6>:6U.Y96=1U5^<_CU%3-'!J5N)8_E8C`;'(]B.X_R/6J,\\,MN MTOFIL/1@W'YU%X8N4>6ZA242#(88_(_TH`=:73:7S)! M)`8=1G.:`+/A,1&^FEC!QL^8'G;DC'\C6U?:;).V6*LF?N[<_P!:I^'%3[+N M,RO)(-QQC(''^!K=EE2.,LS`8'4]!0!BZQ9+'I42HH_=R*6&.#GKQ^-1:!&( M];DX4$P'&._*TFMSR&T98;E'1SR",$#\ZH6]Z;36K%V/R,2K?0X'\R/RI@=G M<1B6WDC/\2D5S^F3>3KQ3.!/E<#N2HE'Y9>NC8A5)/0#-:GW).">AQP:YKPGJ426[VMQCRF/S9_A; MU^AK8U"WFC0^2#+$>PY(I`1ZVFY-_F`#'0&N8RES?K$H9I5(6)5Y.[.3_GVI M]X\X9BS3!5X4%3UJ7PA;R-JZ7$49,<9/FN?X,@C%,#MM1=A9.BG$DN(U^K<5 MS=M;S-=3:@$Q$LZM$&&3(H!5<#W)%:\URMU>*5.88PVP=Y&`YQ[=OQILOVAX M/X(W=PYSSL4,3':LA7Y,^A/:@![:G;`9617'LZC^9%12:E;R1 MLG3/0[T/_LU2W.HQVUU!;O%,SSG"%$R#Z_3'6HTUBW>]N+01S"6W7?)E<`#& M0"5]0/2K-G>)>V:W,*/Y;C017M=9@NUN3!#<,;9BL@\OG<.H M'J:DLM6M=0L#=V9>9%."JK\P/IB@#SB"*XM+YE1&('`8`X(]":V8=4O+2':J MM-`>B'(9/H?ZQZA:)HSWS5F'44EN&@\F=)5C\P*Z8W#IQ0!D" M>&,?/(F=NTI$IY'IG@`#L,_SJ$78F(#@QQ*E-M-7MKVYN8+822-;$K(0O&?0'OT-`&+#<*C\),B@`+$LP MPOL#N`JXD\I))Y/\JD3Q+8-")F$\<'F^497C(56]#Z5 M:DU:"/4TT\QS&>0;EPGRE?7/I0!3TDVFFPF)'9L]V>,8_P#'O<_G6K!> M:`-&BLI]>MTEEA-O=&6&+S7C$8R%]>M2R:O;K+#!&LDUQ,@D6*,`L%]3S@#Z MF@#0HK/MM7M[KSUC643V_P#K(&3$@_#O^%+8:O:ZE:/<6A>0(=K)C#@^F*`+ M]%5=/OHM1M1<0K(L9)`\Q=I/O]*M4`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%8^OZK+IB0R1)O19%:X/\`=C)Q_/\`E6Q5"YTJ MWNUN5G+2?:!M)8*2@QC"G'%`#-0UB*QDMT,4DWVA69#'C&%&3U([54D\4VJ1 MI(+>X=6M_M.0%X7..M`#Y?$=M$\RF&8^4\2$@#GS!D'K4MUK4%O>+:.DRL[B)7 MVX&XC(QGJ/?UJ&;PU:S2,QGN%W^66"E?F*<*>E27.@6]S>&Z>XN1(95E`#+A M2HP,9'3GI0P'>';N?4-#@N+B3=,^X%@`.C$=.E8=GKFH2^0B7)FNGNVC\EHU M"F(=3D`F6*6D#R-&F<%R">3GL/>J"^&K-;981-[\>V>N#20^(K1TD:6.6#9;BY^<` M[D/<8)_*FS:*;?3K^&SDF?[0KE8690H=A@G.!_/%-T_08OL0^W!WFDM5MW5B M/D4=ACW[TN@QTGB6VB*JT$_F%XUV`#/SC*GK4D.KRS:Q%8FSDB!@,K[R-P^; M`Z'ZTQO#=J[K(\TYD5XWWY7)V#"CITJZVGQ-JBZ@'D681^40"-K+G//'KZ4" M+E%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5R:0W<_BK7$LKM;: M0QQO.*`,/Q&)5U+0DA:-9Q(P4 MN"5S@=0,<4>$IHD343-6)'IR*`.0O'N;>6S\1O%&L33[F82$N8G`" M@KC`PH'<\FM[7(;34;BPLK@JZ3LY`!YQL/(_2M!M.L7MTMVL[=H4.5C,2E5/ ML,8'4TATO3R8R;"U)C&$_"X_OQ[& M&#[C_/O3UB*[E\1:H]F1)Y,<3RP$9\Y0!E?_`*W>NI34M.N+MT4^9<6H8M^Y M8M'Z]N,_K4=C_8UQOOK&&V9XRVZ2.$;P>_;.?YT`5[C4[74_"E[U`#M"`&@Z?@8_P!&C_\`016;XDVI MJ.A@84?:Q@=/2M!-6TZ*WM_+?$4F4B5(FXV]1M`R,8]*JM>:!J4\3/%!>-Q7ZT`0^-PJ^&;C``+.GXG<*O6TAM[UA=7ZSF:,-$-H7:JYW'CC M'(YI4;2=5D:W,4%P]KP8Y8>8\^S#CI3(X]$BOWL8;6U6Y9,21QVX^Z><-@8Q MTZ^U`'-P/#CBGC^PH;Q+<6]I'/<*0H\@+YBD(NZ0Q_9=QR#\VU-N>W/%7-,BTTQ_:=.MX(PV5+1PA#P>0>`>HZ4`9ML0? M'-Z,@_Z(H(_$5'IY%IXUU".X`0W$2&W)X#*`,@?X>U;2Z98)/YZ65LLV=WF" M)0V?7..M2W-I;W:!+F".90<@.H.#[4`8*@2>.I)X<"*WM-MP^>`V2<$_3'Y5 MFV]K-INGVNNZ6-XV?Z7"#Q(N3\P]Q_GOGKTL[9+=K=+>)86X:,(`I^HI;>TM MK1"EM;Q0JQR5C0*"?PH`J>'W631+5T&%920/09-:-,BBCAC6.)%C11@*HP!^ M%/H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*S9] M:@M[^.TDCE#/((@Q7`+$9&/4=LBM*LJ?0;>>^^UO/<>9YJ2@!A@%1@`9'3VH MZ@1IXCMC=_9WAF3$[0&0[=NY1D]\X_"H+76I;W6[-8-ZV<\#N%<+\V#@'CD5 M8_X1RT\_SC+.Q^T-<$$K@LPP1TZ8IUEH%O97,$T<\[?9T:.-&*X"DYQTS0O/ M^M`?E_6I!K&JS:??A9VEM[)X\)<1H'"OG^/(.!TZ?_JKQ:_):ZGQ()^M;%QIZW#3YGE5)TV.@VD8QCC(X-4I/#-D[2$2SH',?RJRX M7RQA0,BA>8,L3ZU!;W\=I)'*&>01!BN`6(R,>H[9%5W\26Z&;=;7`2&8P.^% MV[^PZ]\U)/H-O/??:WGN/,\U)0-RX!48&,CI[4-H%J]M=P-),1>6R,H_J MO'M1_7Y?\$"G>Z](MY8/;!S"[3+-%A"?SZU<.OVOD6\J)*YGA:94`&0 MJC)SS3[C1H[I[>2>YN'D@#@-E1NW#!SQZ>F*C_X1^U%M;PK+,I@B:%9,C<4; MJ#QC]*.@%*V\1*+C49Y96EM(_),"A0&.\=.W?UIUGKSQW-['>LQ(N1#"AV@C MY<\D&&"UN97EA\Y0H`(&<'.3U%-\4WMSI^EK<6DICD\U5^Z M#D$^XJVFF1KJ27YFF:98O*^8C!&>21$#!_W9`.1]0:`' MWM[%IUIYUPQ(!"CIEB3@>U9UMK_VO5OLD-NY1(F=R2,Y#8XYZ?XBK-YH\5]& MZ7-Q.^Y0%Y4;"#G(P.N?6G1Z5&E^EZUQ/).(O*9F*X=3FHH?#MO;?9 MS;W%Q&]N6\M@5)"L1R/UJW;:;%;7]Q>))*TEP%#!B"!M&!CC/ZT`7:*** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#G-%_Y&[7?^V7\JS8X+G28 MSKM@&D0S3"\@S]]1*PW#W`_SUKIXM)LH;B6XCB999@1(_F-EL^O-266GVNGP MF&UC\N,G)3<2/R)H`QX+6+6O",T4/*SO,\)/KYK%?Z4GAV[?61:W$H;-E%L? M<.LQX)^H4?\`C];MI:P65NMO;1B.)22%'09))_4FBVM8+176WC$8=S(P'=CU M-`'-L+UO%>KC3WA6;[,F/,7/.T8Q_P#7J?4K1KM[*;2+J&*]LXVV1X^1ESM8 M<<=1BM(Z'IQN'N/)<32??<2N"WU.:)[F2UN%7N!C; M_+]*MZ/$\'BV43C_`$B:Q$TO^\7Y'X9`_"MN#2+"WB:**W`C9PY5F+#<#D'D M]6S:#F9`ZR+DD8.<=NF>HJY MK-C;:U)8P1R!5:&5X9(_X2-F"/:KPT#35>1A`X:7_6$3/E_KSS4HTBQ$\$ZP MD20*$C8.PVJ.@Z]*`,71M0N;C6(+'48RM]9QR*[8X<';AA]<5-J\:0^(O#T< M:A$4S!5`P`-JUMM:P-=K=F,>>B%`_?:>7"7%Q$SRQ_<;S&&WZ8 M/%`&=K6G237EO+I4\<&H6X>58V'RR*Q^;/X_SJSX=OSJ-@\DENMO,DS1S(O3 M>.I'YU;N]/MKR2.29&\R,$(Z2,C`'KRI!J2VMH;2!8;>-8XUZ**`)J***`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`*QSJLRZE"/F[=_2I1HMB' M1A'("@`&)G[`J._H2*6+35CNX7PGDVT>RW7!++D`'+$\]*.H=`NY;R*^MQ$T M312/M,>T[MN,ELYXQ]/YU!IFI375_<02[!Y>[@#T8@%3GYA@*N26$$EV M+EO-\T8'$SA<#_9!P?RJ)M*@!!A:2%@V05=N!NW$#G@$]:$##4Y;R!4DM6B/ MS*/+923(2>@.>..<\UGKK-R\+R`1#S+>6:(%2=FQL8//.1CTYK5NK""[D227 MS=R`A2DSIUZ_=(IHTRT`E'E'$JLC#<>`3D@<\9/I2&5KZ_NH+>UE1`(G`,TQ M3>$SCMN![]><>E:E5WL8'\L-YA2,!0GF-M('3(S@_C5FJ)04444AA1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!17"_P#"9ZC_`,\;7_OE MO_BJ/^$SU'_GC:_]\M_\56_U>9S_`%F!W5%<+_PF>H_\\;7_`+Y;_P"*H_X3 M/4?^>-K_`-\M_P#%4?5YA]9@=U17"_\`"9ZC_P`\;7_OEO\`XJC_`(3/4?\` MGC:_]\M_\51]7F'UF!W5%<+_`,)GJ/\`SQM?^^6_^*H_X3/4?^>-K_WRW_Q5 M'U>8?68'=45PO_"9ZC_SQM?^^6_^*H_X3/4?^>-K_P!\M_\`%4?5YA]9@=U1 M7"_\)GJ/_/&U_P"^6_\`BJ/^$SU'_GC:_P#?+?\`Q5'U>8?68'=45PO_``F> MH_\`/&U_[Y;_`.*H_P"$SU'_`)XVO_?+?_%4?5YA]9@=U17"_P#"9ZC_`,\; M7_OEO_BJ/^$SU'_GC:_]\M_\51]7F'UF!W5%<+_PF>H_\\;7_OEO_BJ/^$SU M'_GC:_\`?+?_`!5'U>8?68'=45PO_"9ZC_SQM?\`OEO_`(JC_A,]1_YXVO\` MWRW_`,51]7F'UF!W5%<+_P`)GJ/_`#QM?^^6_P#BJ/\`A,]1_P">-K_WRW_Q M5'U>8?68'=45PO\`PF>H_P#/&U_[Y;_XJC_A,]1_YXVO_?+?_%4?5YA]9@=U M17"_\)GJ/_/&U_[Y;_XJC_A,]1_YXVO_`'RW_P`51]7F'UF!W5%<+_PF>H_\ M\;7_`+Y;_P"*H_X3/4?^>-K_`-\M_P#%4?5YA]9@=U17"_\`"9ZC_P`\;7_O MEO\`XJC_`(3/4?\`GC:_]\M_\51]7F'UF!W5%<+_`,)GJ/\`SQM?^^6_^*H_ MX3/4?^>-K_WRW_Q5'U>8?68'=45PO_"9ZC_SQM?^^6_^*H_X3/4?^>-K_P!\ MM_\`%4?5YA]9@=U17"_\)GJ/_/&U_P"^6_\`BJ/^$SU'_GC:_P#?+?\`Q5'U M>8?68'=45PO_``F>H_\`/&U_[Y;_`.*H_P"$SU'_`)XVO_?+?_%4?5YA]9@= MU17"_P#"9ZC_`,\;7_OEO_BJ/^$SU'_GC:_]\M_\51]7F'UF!W5%<+_PF>H_ M\\;7_OEO_BJ/^$SU'_GC:_\`?+?_`!5'U>8?68'=45PO_"9ZC_SQM?\`OEO_ M`(JC_A,]1_YXVO\`WRW_`,51]7F'UF!W5%<+_P`)GJ/_`#QM?^^6_P#BJ/\` MA,]1_P">-K_WRW_Q5'U>8?68'=45PO\`PF>H_P#/&U_[Y;_XJC_A,]1_YXVO M_?+?_%4?5YA]9@=U17"_\)GJ/_/&U_[Y;_XJC_A,]1_YXVO_`'RW_P`51]7F M'UF!W5%<+_PF>H_\\;7_`+Y;_P"*H_X3/4?^>-K_`-\M_P#%4?5YA]9@=U17 M"_\`"9ZC_P`\;7_OEO\`XJC_`(3/4?\`GC:_]\M_\51]7F'UF!W5%<+_`,)G MJ/\`SQM?^^6_^*H_X3/4?^>-K_WRW_Q5'U>8?68'=45PO_"9ZC_SQM?^^6_^ M*H_X3/4?^>-K_P!\M_\`%4?5YA]9@=U17"_\)GJ/_/&U_P"^6_\`BJ/^$SU' M_GC:_P#?+?\`Q5'U>8?68'=45PO_``F>H_\`/&U_[Y;_`.*H_P"$SU'_`)XV MO_?+?_%4?5YA]9@=U17"_P#"9ZC_`,\;7_OEO_BJ/^$SU'_GC:_]\M_\51]7 MF'UF!W5%<+_PF>H_\\;7_OEO_BJ/^$SU'_GC:_\`?+?_`!5'U>8?68'=45PO M_"9ZC_SQM?\`OEO_`(JC_A,]1_YXVO\`WRW_`,51]7F'UF!W5%<+_P`)GJ/_ M`#QM?^^6_P#BJ/\`A,]1_P">-K_WRW_Q5'U>8?68'=45PO\`PF>H_P#/&U_[ MY;_XJC_A,]1_YXVO_?+?_%4?5YA]9@=U17"_\)GJ/_/&U_[Y;_XJC_A,]1_Y MXVO_`'RW_P`51]7F'UF!W5%<+_PF>H_\\;7_`+Y;_P"*H_X3/4?^>-K_`-\M M_P#%4?5YA]9@=U17"_\`"9ZC_P`\;7_OEO\`XJC_`(3/4?\`GC:_]\M_\51] M7F'UF!W5%<+_`,)GJ/\`SQM?^^6_^*H_X3/4?^>-K_WRW_Q5'U>8?68'=45P MO_"9ZC_SQM?^^6_^*H_X3/4?^>-K_P!\M_\`%4?5YA]9@=U17"_\)GJ/_/&U M_P"^6_\`BJ/^$SU'_GC:_P#?+?\`Q5'U>8?68'=45PO_``F>H_\`/&U_[Y;_ M`.*H_P"$SU'_`)XVO_?+?_%4?5YA]9@=U17"_P#"9ZC_`,\;7_OEO_BJ/^$S MU'_GC:_]\M_\51]7F'UF!W5%<+_PF>H_\\;7_OEO_BJ/^$SU'_GC:_\`?+?_ M`!5'U>8?68'=45PO_"9ZC_SQM?\`OEO_`(JC_A,]1_YXVO\`WRW_`,51]7F' MUF!W5%<+_P`)GJ/_`#QM?^^6_P#BJ/\`A,]1_P">-K_WRW_Q5'U>8?68'=45 MPO\`PF>H_P#/&U_[Y;_XJC_A,]1_YXVO_?+?_%4?5YA]9@=U17"_\)GJ/_/& MU_[Y;_XJC_A,]1_YXVO_`'RW_P`51]7F'UF!SM%%%>B>>%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`445?MM&OKJ,R6\*R(.I65#CZ\\4FTMP2;V*%%:`T2_)`$*$G ML)D_QJK=VD]E.8;F,QR`9VD@_P`J2DGHF-Q:U:(:***H04444`%%%7_['NQI MKW[*BPICJW)R<=!]>])M+<:3>Q0HHJ_IVCW>I!F@5`BC)9VQ^G6AM)78)-NR M*%%2VMN]UF9%Y_6JU[IUW8;/M M4)C\S.WY@RE'*L,,IP10I)[,'% MK="44450@HHHH`***DMX)+F=(85WR.<*N>M(".BM/_A']4W;?LWS>GF+G^=' M_"/ZINV_9OF]/,7/\ZGGCW*Y)=C,HJ6YMIK2=H+A-DB]5R#BHJI.Y+5M&%%% M%,`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"NF\(?\>NJ?]80C9"6#'<.<=<>O2H(M-G>W6XG6;W[QVUM"I2(A27D''0=^@YX%2I2LF^I3C&[2Z%&ZTR[ MM)HXI(B6E&8]AW!Q[8J9]"U&-X4>WP\P)5=PX`QDGTZUI^(]G]A:08RQ78=I M;KC`H\1S/_8ND*&(5XX0;'^ZZMD?2M M.R_Y$J__`.NX_P#9:4L7\#C<<[+C"Y[?YS4NBQ1S^%KJ*:40QO07:)\T04\/_`+1/Y_F*(_Z5;D^:WD9J*Y;^9230-0>ZDMQ$H:,@,Q8!02,XSW/-5+VRGL M+@P7*;)!SZ@CU%:/BN5VUZ=6:0G+'@9S@=A4-%:V,;G3>,?\`4Z9_UR/_`++6/;K=ZA!' M9Q(9!"6<$M@(#C.2>@XK8\8_ZG3/^N1_]EK-T:2]\N[M[2.,I-'B5WX$:\\Y M[=36%/2G?U_,WG_$MZ?D0MI-S]E>YB,4T4?WS$X;;]13K+1KV_B,EJDQJ:DE))KNBZ<7%M/LSFK7SHV-S`2I@(8L#TYP*LVVFWVK2R36\!*LQ8L>% M'XFI)-8>XTZ>UECA0.593'&$Y![X]JN^"V(U64#O`W\Q52DU%R[$147)1ON9 MK:-?)IQOFBQ`.>2,X]<5'!ILTT:R%HH4?A&FD";OIG^=-2:>>0;QN M."<]2*U_$?V.'5GBEMK@^6BJFR<*H7'&`4/\Z.:2=NX=;W1D$AR1<*![8&S@4E*6SW&XQ^)/0S;NUGLIVAN8S'(O4 M&BTN&M+A9H_OJ#@^A((S^M7];UA=6,#?9O*:)2I8ON+#\A_DUE5<;N/O(B5E M+W6:7AXDZ]:$G),G7\*?XFX\07>/[P_]!%,\._\`(=L_]_\`I3O$W_(?N_\` M>'_H(J?^7J]"U_"?JOU".RU#6Y?.CA9L*JM(QP#@8SD_2DBT#4)+070C18CT M+N%_'FKW@MB-5E`[P-_,5C&ZG>1P9GVR/N==QPQSW%"7F8Z\T^X ML;E;>Y58Y&`(RPQ@^]+>:;=64,4LZJ(Y?N,KA@?RK4\9_P#(83_KBO\`,T[6 M_P#D7-'_`-UOZ4E-M1?IX=$N6U&. MSF:.%F`8EI!T/ISR?85JQ6]AX@LK:-+@6]]!$(]C='`_SVJD+:\M/$%A!>J- MT;HJ,.0RAN.:.=MVZB<$E?H)XATW[)>RF+RA`@1542+N^Z!]W.:QJUO%/_(P M77_`?_016354KN";%524VD%%%%:&84444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!71^';NPL+:[6 MZO4#7"A0%1SC@]?E]ZYRBHG'F5F5"7*[HDFC6-]J2I*/[R`@?J!6AX>FMK75 M(KJZN%B2//!5B3D$=@?6LNBFU=6$G9W+NK&%]0GFMYUFCE=G!"L",G/.0*UM M2N-+U2QM)6O&MY8(PC1",L3].UZ-91+Q=B.<\]?NU MS]%#IJS5]P51IIVV-#3A;V^K0R2W<8AB<.7"OS@]AC-7KN>QF\2K?+?1^1YB MNY//I:QK:[):WNKR7%O=QF.7')5QMP,<_+[=JG\175 ME>16AM;M9&@B$;+L8$].1D5A44E32MKL-U&[Z;A3X461]KRI$/[S`D?H#3** ML@Z/Q)=V&H06OV6]1F@4J59'&[ITX]JAT&\LEL+VPO93`+@#$H&:PJ*S]FN7 ME-/:/FYCI-&N=+L#>6[7CL)HBOG&,A>_`'7O5&W-C:03SP7@-UC;"KHP(]6X M&`3VYX]:R:*?L]6[[A[31*VQOZ'?VG]FW-CJEP%MWY0;69E/J,"L2XCCBF98 MIEF0='4$9_`BHZ*:C9MKJ2Y-I)BH`S`%@H/MOPQ=6=A=R7%W=+&&C*!=C$\D>@ MQVK#HIRCS*S%&7*[HEG58ISY4RRJ#D.H(_F!72RW>D:]:QM?SFTO(UVEL<'_ M`!%U9=%3R^]S%<_N\IN>&+JSL+N2XN[I8PT90+L8GDCT&.U9$ZI%.1%,LR@Y M#*"`?S`J*BFHVES!S>[RG2ZO+I>K"*^:^,,BQA7A\LLQQZ5%JMYIUSH=E!'* MZRPC(C"[L>Q/'^>U<_14*FE;78KVKWL:UU;V5P();2]ACD$:"1'#+A@!D@XY MJ?4-8CEO=.97,PLPN^7&/,.1G&?I6%15I*XR2.\ATR$K_:7VI[9G)8RL/,!&!M[ M-[GCV-7"+HWTLZB_P+N$H")-OED#?QTQU^E'4#=34;9[26Z5G\J$L'.PY&WK MQC-20W4<^SRPY$D8D5BAQ@^_3/M7,(+H?VC'-;WGE2_:#!LCD`R2?O`#G.1@ MGCK4LR7@@98DO5_XE8"A1(,2CL,=#Q1T_KS';6W]=#J*H?VU89DS)(JQOL=V MA<*I]"Q&!5?1EFBO+E'^T^48XF4S;R-V#NP6_#BJL3M':ZO$;2YD>XGD\M/( M?#@J`.<8`]S0]!+4Z$$$`@Y!Z$4CN(T9VSA1DX!)_(5R[6]_:VS6DC7!FCM( MQ:-"6V^8,Y'''7'7M19R7RW=M!,;QG2>=9E#ZV!>9T*WT# M:>+X,WD%/,W;23M]<=:EAE6>&.6/E)%#+GT/-XCN8A+$6*DD?,I4@@X/!`(J6L'['.-691+=OY-J MIC8LXC:49Y/8]LBL^,WXLFECDOR^$%RC1,"N#\VW)R3C^[VH`ZJ:5((GEDR$ M09.%)./H*;:W$5W;I/`2T<@RI*EF M>:RQ!<-;:9&4O41;%ED5!(N'"C:"!WSF@#JJ*Y?3I;V4*+E;X7ZX:+(949=@ M'S9&.NS)A^VAS9.+@'?N\X8V[??.>G:A@M3JJ*Y.:*ZC^TM&-0) M1('BYE.7S\_UXZBK>D?:GU$OVTUQXA41R7$"FT9/.CC MR,E@<9((_D:J74EW#J,L0-X1]LA==@D9?+P-W(XQG/%"_K[P9T]0?:HOMHM, MMYQC,F-IQMSCKT[USMJE]%/'(@O3(9[A2)?,*[,'9G/&,XYJ71MS:I;2O'=> M:;,K.TJ/@2;AD9/`Z'I0M0>ATE%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`44C`,I!S@C'!Q7.:#Y\T$,K+>,Z^ M:WFR7+%)"&("D;CZ]QVH`Z2BN=/B*Z2Q2[EL8EC>(RJ%G+,0.HQMR/KTJP=: MF%[)$;5/*CN$@+B4Y^<`@XQ[CO0!M45R\%](UEJMI&SLT!G9I&F8,@R=N.YZ M>M3)J;VD2OY'F/%IJS[C,PW#C((Q@'KS0%NAT5%9^FZA+=S30S0+$\:HXVON M!#`D=ASQ63:L_P!IO#)]N:.&[;]Z+EMJ*JAMNW=STQTQS1L!TU%8<>O2M&KR M6+(LVP0,6P&+'&#QVSG(S4%KJ4]H;F)HVFN);QT1=[,``@/7&<>WO0!T=%83 M:W>[R!IR*4@$SK+M13ZC)>"U.&B:+4$A8*S`.,9Z$#CD=10!T M5%97B`NMM;%))8R;J)28Y&3(+`$'!J&WUJXEE1&M(U5Y)8E/G$_,@/7Y>AQ0 M!MT5SUMKMVUC:D6OVBZEA,Q5"<;@#>HK"_MV>-V^T6L:QQW!MY&24L0=NX$#:,C%+'KTK1J\EBR+-L$#%L!BQQ M@\=LYR,T`;E%#Q1?^(;F-FBAMXU/YL9YQ@G%)O2X[:V-6BN;M;V6RM[86Z7-Y<3VJ3.DDK,.. MXSG!.?IQ4TVNWB&=EL(S'"\:-NGPWS[<<;?]KGFJZV$;U%8L6LW!N!'+:Q*H MNOLSE92<,1D$#:,BE\21LFF7%TD\\;$\S>?.2 MR8P2N<$G&<"@#,UI6%Q+=VI:XMVMW#% M2I/7W'?F@"W17+Z=J=U;VT421_:7D\]]\UPV0$.QP.:`-:BL&Y\0O#:B[6U5X)&D6,^9@DIGKQQG:?\]!M=N8S+OL MXL0B)WQ,3\KG`Q\O6@-C>HK*75I9-0,$-H[PI+Y,DH/W3CKTQCG'6JFIM(-= M"(EW,IM&?RH;AD&X,`#]X?I^5`'045BW.JOIBSP>29OLMNDF]Y3N<$[>>.O% M-M]>E>5?/M4CA:26/E;E`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`A&00<\^AQ4%K906EM]G@ M5EBYXWL<9Z\DYJ=LA3M`)QP"<5E6&JW%W%#,]M!%"Y?)(C$X1(S$`)7'RGG!YY'UIXT>R!)\M\LZR$^:_++T/7VIRZOIK_= MO[9OI*#3_P"T;(W'D"[@,V[;L\P9SZ8]:`(#H>GDD^2^6WY(F<$[OO`\]#3V MTBQ92K1,08?(_P!8W^K_`+O6JZZR/L-Q-(L*3Q-*JPF7[^P\X.,_I4T.J1,L M;S36T2&W69P9<,F<=1Z<]V\[RD(\ MYB\FYRVXGJ>33K>[M[H,;:>.78<-L8'!JA;ZI=3RRJMI"%CN/(/^D'<<8)(& MWG@YQGM0!(NA6"P-`(G,9Q@&5CLP&XBN9I6BCCAF,08/D-@`^W//2@![Z/8N MKAH6(DB\IOWCU2+I%DMHUJL3"%G\PJ)& M^]G..1FEU'4;JSD0+9QO&\J1*S3%22W?&T\?C M5A+Y45%O3%;3N2!'Y@.><#!XZ_2@!J:5:1W?VE4<.<$CS&VL0,`D9P3[FK,T M23PO%("4<88`D9'U%5?[8TS>4_M"UW#MYJ_XU+!J%G&&Y&=T0E#8QWSQVYZ=* M`&_V39[R_EON,PG)\U_O@8SUJ>[M(;VW:"X4M$W50Q7/Y&B&[MK@@07$4I(W M`(X;C.,\=LU4NM1GAU(VD=O"P$)F\R22/6I4TVTCGCF6-A+&6*MYC9^8Y.>>?QIL&IVTA6*2>".Y"Y>$2AB MA`R1^%2#4+,PM,+F(QJ=I;<.#Z4`+-9P3W$,\BL9(23&0[#&>O`.#1+9P37, M=Q(A:2-2JG<<`'KQG!J'4=0%II&B8HY8E/,8*"WWB!GC.3T]:5]'L9!( M&B<^8JJ_[U^0OW>_:H9-4NA>7=O%:0-]G"'+W!7?NZ`?*>?QJXM_:,%(NH/F MSC]X.<=?R[T`1C2[1;TW01A(Q!8>8VUB.`2N<$^]2FS@-Z+PJWGA-@;>V-OI MC.*2#4+.Y+""ZADVKN;8X.!ZU#8ZDM[?74$?EM'`$(='W;MV?RZ4`%[I%G?R M&2X1R638VV1E#+G(!P>>:(M'L8O+V1/^[=G7=*[M M-+*1;`R74,_^L;@(`"/N^U;])1Y@<['HVHPO?%&MF6\$H96D;Y-Q)4@[??D4 M^;1KR2-E!@!.G_9/OG[WK]WI6JFHVSVDMTK/Y4)8.=AR-O7C&:DANHY]GEAR M)(Q(K%#C!]^F?:@=^I4TZQGMKR:641!)(HD`1B3E00>P]:AM-&VR7LMS%`)I MI7>.6,Y=0RXQG`]ZUZI?VO9>1<3&201VS;9287^4_E0]1(R(]#O%M8P(K5)[ MPVZV_E[HKA)3YC%00ISC@ M&HKRTO[R2W9EMT6&X24*)&.0,YYV]>1Q[5I0RB:(2*KJ#V=2I_(U':WD-VLK M0EB(G,;94@[AUX-`&5%I-VES;RD6^([J:<@.>0X.!]WKS4$.@WHMWBD:W&ZR M>V!5R?F+$@_=Z7$D-J;8R02G<>00P^7CI^M;U1SS);PO-(2$098A2Q`^@YHN(S[W3IY+ M:TA@D\WR;A96>XD.X@'.,@&H+W29I]4DF$4$T,RH&\UV!C*]P!PWTXYK0M=2 MMKMT6$RDNF]2T+H&7CD$@`]15N@#"CTFZ7R25M\I?/8OM%\ML8]>.*W+R[AL;=I[EBL2]6"%L?D#26][#AH`I7> MFRR>'GT^!8(Y'3:`"0BY.>.":KZAI-W=RW;J+<>?:I"-SG@AB3_#TYK=J"[N MHK*V>XG+"-!DD*3_`"H`Q1H][)I\MC+]F4`2>7<`EG.XYP>./?:,ASD+MV_W>M6-$TV M:RP9X8$=(Q%YD;LQD`[\_='MS6Q10M`>IE1Z5OUFYO+F&W='\LQ-G+H5[]./ MP-4XM)OX[V-@L!BBGFE#&0@L'![;>,9KH:*`.:&@7ALH[/8U<(NC?2SJ+_`NX2@(D MV^60-_'3'7Z5U%%'4#D4%T/[1CFM[SRI?M!@V1R`9)/W@!SG(P3QUJ69+P0, ML27J_P#$K`4*)!B4=ACH>*ZFBCH.^MS'T99HKRY1_M/E&.)E,V\C=@[L%OPX MK-GMKB33-<"_:U,DTA2(0\2`@8QE/TKI+JUANXO+G4LH(88 M8J01T((Y!HM[:*V0K$&Y.268LQ^I))-`%70_-_LN-9Q+O5G7]Z"&QN.,YYZ8 MJGI5H(-1OX]DZP1-_HX9&"J&&7VG'KZ5N44`^BC:.0,Z1NSB3 M=QGOTZ$\4^U^U01@7$5T+=[Z0SD(P8@K\IXYQGKBNKHH`R_#J%-'C1DD4J[\ M2*0?OD@\\^E9V98[74#Y-TN^_P!P*HRG:=OS=,E>#G'/TKI:*`.3/V]],A,? MV_[1"\N\#S$#Q!CP,_Q8(V]^/:M>[:\>TD,2*;5H"`K*YFSM/&/7-:M%#U5@ MZW.?AM;B+PS(WG7;3&S54CVE7C8`\*%`/7'Y54,%S'=)$9M0162-X2`[Y?\` MB!)/R_\``N,5U=%.^MPZ6.?T@73ZD6N9+L3*SB6,QD1E<_*\GS`8SMS7244/42.2N8]2:WD:7[:;E;*-A MY9DQYN3G&."<8R*6Y^UQ74L:F^6Q,JEVV2.0"G..Y&[KBNLHH`PM2BF/A-X? M])GE*!1N0F1N>"0.^/\`Z]/U*&X@TEY8KBZFD\V.3=C#A17S$18M1LD.<.V<^IQM MZ]J[:B@!J'1@TZBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@!&`92#G!&.#BN!66+GC>QQGKR3F@#%/B*Z2Q2[EL8EC>(R MJ%G+,0.HQMR/KTJP=:F%[)$;5/*CN$@+B4Y^<`@XQ[CO5A]!T]XDB,3A$C,0 M`E<'GD?6GC1[($GRWRSK(3YK\LO0]?:@#&@OI&LM5M(V=F@,[-(TS!D& M3MQW/3UJ9-3>TB5_(\QXM-6?<9F&X<9!&,`]>:T3H>GDD^2^6WY(F<$[OO`\ M]#3VTBQ92K1,08?(_P!8W^K_`+O6CI_7F/K_`%Y#=-U"6[FFAF@6)XU1QM?< M"&!([#GBLV.^EL$U.B)4DF;"@A>F<]VK9M[&WMI7EB5@[JJ,2['(7I MU-1-I%DR2H8W*S2"5QYK\L,8/7V'Y4=1=#/?7Y8W,4MK'&ZRM$6,A\LL,8`; M'!(;OCI4T.MR2RPQBU4-++-%_K>`4S_L]\5.VB6+22N4DS,(+R6*,IIP:26+SD1)"V5SC!^7@YHO= M1EO#`T*&.**]BC<^80Q)P2,#@CG')K0;1;$Q01B.1!`"L925P0#U&8R>6ZDLKE4D95++T.`<9HZ@5_$D;)IEQ=)//')&@"^7*R`<]<`\GZTV^O M#HD;>6LDZ%3*1+.S,`,`@9R<=\G@?C6I=VD-[;M!<*6B;JH8KG\0:@N])L[T M@SHY(C,>1(PRI['!Y_&@"!]6DCU7[$]NB@IYJR>;U3G)QCJ/2JVKWT=U9VTU ME-,P^UI&PA=HRP/5>HK1_LJS+(QC",3JS"- MPZX=EPPZ'@T`9<5U=VMQ#;PVDA-R7?;=7))C"D#&?FZC!Z]Z0^(6"27!LI#: M*'VR`]2IP`>._MTK6>TADNHKEE8RQ`JAWD8!Z\9P:K#1K$-,?))6;=NC+L4& M[J0N<`GU%`#K"ZGNUF6YM6@*G`.3\P(ZCH1Z5E:=?W%MIUH%4W,ES=21;IIV MXPS8Z@\86MJTL8;.(QP[\-U9Y&9O89)SQ42:191QQ(L;A89#*@\U_E8YR>ON M?SH#H4[/6YKY3Y%HI:''GJ9<8RQ!VY'.,$\XIT>M-(T#K;KY%Q(\43;^=RY^ M\,<`[3ZXJ9-"T^.59(XG4KU`E?#=JLW4@ M9X)H`RT\07;PK(+*$;[9KE09S]U3R#\O7TJS;:W)=7*+!9NT&\1O)G[I(!ST MQCG'6K"Z+8*BJ(G"K$80/-?A#U'6EAT>R@N!-%&ZL`/E\QBI(&`2,X)`[F@& M5-;+C4M-5/M++(T@:."8IO`7(_B`J+^UI-.MYHVMI',,"SXEG+-\[$;22">/ MQK7FLX)[B&>16,D))C(=AC/7@'!J&]TBSOY#)<(Y+)L;;(RAESD`X//-`%&? M7I;>XG$EJ@@@G2)W$I+?,,@@8]_6BQNIKK6X)G7RXIK(R(@D+#!9<9'0''I5 MUM'L7+EXG;>ZR-F5^648!ZT6FD6EG,DL"R!D4H@,K$*IYP`3C%"_K[@9?HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`$;(4[0"<<`G%95AJMQ=Q0S/;010N7W'[1EE"D@G!4<9`[]ZU3G!P`3VS6 M5H^E?8+3]Y!;_:_G!DC/W@6S@G`/I^5`%E=7TU_NW]LWTE!I_P#:-D;CR!=P M&;=MV>8,Y],>M84VA7YTR&T1;7*VS1,PW`^M6#I-ZTTLI%L#) M=0S_`.L;@(`"/N^U'4"RNLC[#<32+"D\32JL)E^_L/.#C/Z5-#JD3+&\TUM$ MAMUF<&7#)G'4>G/7-9D>C:C"]\4:V9;P2AE:1ODW$E2#M]^13YM&O)(V4&`$ MZ?\`9/OG[WK]WI1T_KS'U_KR-FWN[>Z#&VGCEV'#;&!P:IV&KK=7%Y!-&()+ M5N?GW!E_O`X'<&ETZQGMKR:641!)(HD`1B3E00>P]:J2Z)-/<),SQQGS7$H5 MB?,B8YVGCUQ^M'470L:=K<-Y9O=3A+6(2M&F]^6Q[8&/IS5TWMJKHAN(MT@! M0;A\P/3'UK%71[](/+`MCNN993B0@A7!QAMN1C/..OK38=&OHUMN($>*-(W( MD+)(%'1E(Z^A&,4`;/\`:5CL+_:X=H."=XZ__J&:>][:QF,/<1`RXV9T'[7`05WC$@.5S MC(]LUF0:3=I<0R/Y`"7,TS;7).'!`_AZ\U030M0_T9)(H&2"'RYB6-_NN7&#^-5GUW3DNS;-<+YHD$>,CJ1G\AZU0DT>\86 MKR+!=,L312I(Y0'+9SE1R?7CF@Z+>QWPEA^SF-9XY0"Q7I'L(Q@X]>M'4#;C MNK>:5HHID>1/O*K9([50N=1O8;V&W6RA/GNZQLUP1G:,Y(V'&?QINEZ?HSUJ>]M)YM2L+B/R_+MVGM0!-)J=T+R[MXK M2!OLX0Y>X*[]W0#Y3S^-6H]3L9=X2[@8QC+@2`[><<_C52/2MVLW-YY;3IHAY`F-V;A0&.UANW;2<`B@#5.H6:PK,UU"(VX# M%Q@^M1:G?/8Q0R1PK-YDJQ=NV^6)!G=Z8I MRW]HPD*W,)$?WSO'R_6L>\T6[N)+LJ8%$]S'*&WG("@`_P`/7B@:5?O90QR) M:)-:^6$923YP0Y&XXX'MSS0@-9M1LEB61KN!4]5)?#][+9Q0;[="GGY8.Q^ M^;-K`J0SF%B;D@G&"2`5QP.>O8 MU/I-I);+*\T$,,DF-PB;R#;LWY\P8V^OT]Z([^SECDDCNH62/[[!P0OUK`CT/4?LY@9 M;8`63VH;S3R2.A_I0!I:9J']H+<,%0 M+%,8P4;<&``.>GO5ZL_2K:YMVNVN4C0SS&50CEL9`&#P/2M"@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`$8A5+'.`,\#-4K;5K.Z: M,0M*1(2J,8'521G(R1CL?RJZ3A23GCT&:PM`M)4TX/-)=(`)5,#)MVY;.1P& MSCZ]:`-ZDKC)([R'3(2O]I?:GMF/8U<(NC?2SJ+_`NX2@ M(DV^60-_'3'7Z4=0-U-1MGM);I6?RH2P<[#D;>O&,U)#=1S[/+#D21B16*'& M#[],^U>5+]H,&R.0#))^\`..M2S)>"!EB2]7_B5@*%$ M@Q*.PQT/%'3^O,=M;?UT.H/`JK%J5I-#/+'(S+`2)1L8,I'JN,_I5+1EFCO+ ME'^T^48XF4S;R-V#NP6_#BJ,UC<*MY?V,;BY\R19(F4J)XS]>XZ@T/02U.CB ME6:)94SM<9&5(./H>:?7,W*W;7L4;R7<2"*(P>3&Q!8?>!(X'ON[4VXCU6VO M'\@7$T<$V5W2N1(L@P!U_A.?PQ0]P6QTDTJ01/+)D(@R<*2 M`EHY!E25*Y'K@U5NV%CI/EMYTQV>7N`:1B2,9/4]:PXX;V(VEM,]W#LMX1#Y M*%AN`^8$C@>^>,4=0Z'645R3P7*0O,LE[YOVB4!)3+M=`3M'J/8^M3W'VR2\ MB21KV!?*B,`C0M\W\09AP#ZYXQ0@9TU4KG5;2UE\N9I0VX+\L+L-QZ#(!&?: MJ-I%:W-YYT>/LX+/M(*C=M!X/.<4=`ZG1U!>7<-E;-<7#%8D^\P4MC\A7--] MH6!&CFOVLY)?WI:%]R?*>B_>QGKVS6AJ$4Q\)2PXN)Y6BVKN0F1N>,@@%N;2.)$5USAAD9!!_(TZN8U5+I[J[D@%]A;6-H1'Y@'F;CT`XSC'%(LE[) M:7#1+>C4T60,"&$9!.5(R,9QTQSUH!'445R]R+EXK@V9O?LQ\DH!YF\/N^?' M?&WKVS36CO(97:W%\72]*Q;O,9?+*]\\$;NYH`ZJJ$NKV<4TT3M-O@&9-MO( MP4>I(7&*H^'A.SM)+)=ES&!*DT;*JN/3/4_3C&*6.VEF\07SB2X@C/DD$1X2 M3;G(R1_(]Z`-L'(R*6N6ADNUO88)#?$)<7`DXD(V$'9SW[8]*BMQJ<-DIA%Z M;A[%B_F!S^\##'WN`V,T`=/%=12W,UNA;S(0I<%2,9SCZ]*GK#T39_:EZ\27 M`BDCB*M,KC)&<\M]:W*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"DI:*`(+6T@L MU98$VAVW,2Q))^IJ>BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BDHH`6BDHH`6BBDH`6BDHH`6BDI: M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***2@!:*2FLX6@!U!(%5 MWN`.]5I+P#O5*+9+DD7S(!3#,!W%93WP'\1J%KTD]36BI,AU4C9-P/44W[0/ M6L0W+$]:FB+OZT_96)]K]4T1LDXC4R\"#1542$4]9:CE+NBQ13`X-.I#%HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHI*`"D9@HZTR24**S+J]"YYJHQ;$VD7);D#N*S[B_5<_,*R+K4220#6 M=)=%N]=4*)RU*Z1KSZADG!%5UFDE/%9?F$FM73SD\5NX**.157.5BS%:L_)S M5D69`X!S6A;QC8.*GV"N656S.M4KHR([9M_(K1BB"@<5)Y=2*N!42J7+C3L- MVT;*E"TN*QNS:Q%LHV5+BC%%PL0E,4W&*L8II%/F"Q"&(J59?6FLE1D$4]Q; M%M7!IU4U<@U81\BDT4F2T4F:6D,****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BDHH`6DICRA.M0&Z&>*:3`M49'K5,W!/2F^:33Y6*Y=W#UHW"J7 MF&CS&HY17+NX>M+D>M9[2M0)C1RAS&A15(7!IXN<4I0X/>I ML,=1244`+1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!112 M4`%033!0:)Y@J]:P]1OPBGFM(0E%#=M+BG45)8VBG4 M4`-H/2EHI`-I#3L4W�(2D*YIU+0!79.:`<&I2*85JDQ$D;5*.:J@XJ9&H& M2T4E+2&%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1124`+29I"P%0R2X'%.P$CR!1S5 M*>_51UJM>RN$.":Y:\O)?,*[C6].CS&-2JH&W=ZGDX!J6R+2X)/6N5$[;LDD MUN:9?($!)Y%;2I\L=#&%7F9OA0O6G`BLF3407`!Y-2?:B$S6'(S?F1ILP`JK M)=*AZU1>]WG:#S37M))QG<::A;<3EV+?VU/6G)=HQQ7/W=G/#D@DUGQW4L3Y M+&M5236AE*KRNS1W2[7'%-:$]JQ=-U0/A2W-;T4BR*"#6,HN+-8R4EH4I`Z= M,TV.\=#ALUHL@8K(.M7%8$<5DTT:;CJ*2EI`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%)0`5'+(%'6G.VT5E7USM4G-5&/,R92Y5A`>>:YNXF:5 MR2:EO)VED.3QFJIKTZ5-11XM>NZCLMAN*4+2U-;)YD@6M7HA91LBGU6B:K"G(H8T.HHHI#"BBB@`HHHH`***2@!:* M3-,:5%ZL*`'T57>\B7O43:B@Z"GRL5T7:*SSJ:^GZTG]J)_=I\K%S(T:*SQJ M:9Z4]=2C/:CE80GO4?)HIDS^7&3TJ[$ME34942)LGM7& MSR>9*QK1UB],DAC4_6LH"NZE#E1QU)X5@ZE:/DLO&*Z0BH+B%9%Z5<)\K(E&Z.5M MK^2"3:QZ5T-CJ2NH^:L;4+#!+*.:JV\AC(&<$5T2C&:NC&,Y0=F=U'*KC@T^ MN>L+\@A6-;D,H=0GU9Y>,K?90P MFDHI*ZSS@JS8G$XJM5FP0O.,5,MBX?$CL;/F(?2K6T55M%(0?2K8KR9[GO0V M$VT\#%`I:BY=@I:**!A1110`44@I:`"BC-&:0!2&BB@!#32:4TF*!"4&EQ2T M#&'I41%3FHR*:8FB->*G1JCQ2J<&F]06A8%+3$/%.I#%HHI*`"BHI9TB'S&J M$MZ\S;8<_A346Q-V-"2=(QRPJG-J(7(05&L+]9,,3VS39U9"(XX@Q8VE@!>10%]UNX#*#<,78]V&0*;N":V-+3X(I( MMS("<\\YJTUG"W_+,?A3K>.-$!A`V-SD=ZGQ6#D[FR2L47TV)AQE?>FKID:@ MG<2<<9J_39'$:%CTHYF'*C$DFN;0D$$+V)I8M5D4_-R*M:PZ&RZD\USPD![U MM%*2,I/E=CIH-2CE.-VT^]7$FSW!KD%EVL"#TJ_#>"5E1LHQ.-R\5,J?8J-3 MN=()%^E.K*C6ZC(&X2+^M7(I&`^88/I63B:)EJBFJX:G5)04444`%%%%`!11 M10`E,D?`I9&VBJKR9/6FD`C/DTE-[TO:J(%Z#-8>MWWEQ,H/-:=W>U< M;J-U]IF)!R*Z*,+N[,:LK*R*Q8N2QZFBD`J1%W&NU'%-VT0L49<]*T[*US(N M14=K$,CBM6!`N*RG(TI4^K-RPA18QTJX5&*S+6?9@$UI+(&&:\^:=SOBU:QF M7\VPX`IMKL8@FDU`AFQ5$R-&.#6T5=&;=F=#&1CBAD#Y!K+L;WD!C6JKAAD5 ME*+BRT[HKBT57R!4P7`Q4E--2W<=K#:#2TAH`::;BE?(IJF@""Y@#J<5@W5B MRN2*Z8CBJEP$[@5K3FT1.*9RLDCP-SQ6WI.HAU4%JI:I%&T9(QFL2VG>"0$$ MX%=7*JD3FYW3EY'I,4@=:N.<(36+J4V$:M*<;LSJ2Y8W,/49S)+C/ M`J@:F='9B<&H74@\UZT4DK'@2DY2NQII*7&35B"T:5@,'%#=@2;T1752QP!F MM[2K(K\S+SBI++3%7!(_.MJ*`(.!7)5K+9'?0PS3YI$D*[5%34U13JX&[GII M6"EI*6D,4&@TE%,`S1DT44``HS112`****`"BBB@`HHHH`*2EI*!C332:>:C M-`A651DFJ%WJ`C!"'FJ=_J&XD`X%8LU MT3SDX]:VA3ON8SJ)%^:]+DER2/K42:E*3Y=L@+G^Z.:S(_/NY=D0+$]JZ#2- M+-DQED.Z1NW85K)1BM3*,I3>FQ1D:]C9#*9&D8Y$8J*-=1O;HC+AE.&/0+73 MNR1C?(P4#N:Q+K7DBD*VL:L,\L>]1&3>R*E%1U;+4>E+@M>SO-CL3@4KZE8V M4>V$)G^Z@K#NM3N+L89L+Z"JP7(YJE3;^(EU5]DGO+Y[N3=)CCI@=*CA$;RH M&;:">3Z4L5N\K;4!)K1@T*=\,P`%6W&*L0HRD[F_8>6+2-8GWJHQFK%16=JM MK`(T^I^M3XKD>YV+8:2!UILBQNA5\%3VI9(4E&'&0#FN>UNXD6Z*QR.-O!&< M"G&/,["E+E5S1U6XMX+<))&'W#&*Y0M\QQP,T^YGFF.9'+8J#-=4(]0$TFZM+&?,=-I6K(5$,Y"D=&-:LDL2*"S@`]"37#"0BI_M-?2S.RCD4GY'!^AJ=7SU-<;9WKV[Y!R._-;T%[Y\2M"=S M#[R&LI4[&L:B9L#D4M5H9U<#!Y]*L9K%FR%HI*6@!*"<"BHIGVH:`(;B7CK5 M<-FH9ILM2QY)K2Q+98!%17-P(8R34@6L/Q!,4A(!ZU4(\SL1*7*KF3J>I/.Y M16.VLX4W.3DTHKT$DE9'([O5CZGM\5`*?&Y4U70PEI*YJ0,%(J_%+Z5B+,16 MG8RAB,UA.)T0FGH:4TF*@*QI+-E=`,4]K4F3<.*QE*^C-(JVJ+N< MC-(:1`0N*#6)H%)2TTF@!.O6DQ3A10`E4[N(L/EJY2,N::=A'+7T$K(W6N?< M%7*M7H,L"NN,5S.L:>%8NHQ791JIZ'-5I]45]'G:.0`=,UVEE-OC%<;I$66Y M]:Z:U;RR`345TFR\.VHFQ2U'&X85)7&=04444`%%%%`!1110`4E+24`17#82 ML"]!D;':MNZ;BLLKNDK>D[:F%975BO':+LZ5F:C;^7R!731Q_+5'4+8/&1BM MJ=7WM3FJT$X:',Q8WC-=)IT*X!Q7.RQ-%*1CI6[H\Q:,`FMZVL;HYL*TIM,W M8XP.:EIJ?=%.KS&>NAPH)Q24&I&+13P%Y,!8\Q#C)Z M"MF]MFNXQ&&V*2"WN*LP0I"@1``%&`*TY[:F7LT]&0Z;I\=E%A>7/WF]:N$D MRB]6O%:&GZ1Y@9I@0N.*T;74%N960(0,_*?45? M`YHE4EL$:<=RK::?!;X6(>II#'RR+$A=S@ M"N8U.5;BX+JN!V]ZN74\LBG1<5=<=:K2C MFNA,YI(K9P:"U#"FU9B&:4-BFYHIB)-YJQ:W3PRJR'!%4\XI0>:35RE)IG9V M4R7L`E3B0=:MPW!#F-_O#]:Y+2M1>SFR22AX(KIW=9HA)"06QE2*XYPY6=U. MIS+0T@-F:Y7Q%EF'UJJ'Q&=; MX3!I12=#B@5VF!(#2TP&E!H,Y1N/R15BVGV&JN:4<4WJ9\KB[HV$NP1R:9)< MC/!K+W'/6I[6W>YE`&<=ZCD2U+]H]K&A9!KN8#G%=);Z;&$&0*CTW3U@4'`K M4''2N.I4N]#LIPLO>(XK=8SQ4M)FBL-S8,T9I**`%--H)HH`!1FDHH`6DI:2 MF`T]*P==8B%R*WS5*^M5G0@C.:NFU&5R)JZLCEM'G_>$'UK9EN0F#FLY-,-O M.SKG%17\Q10">:ZFE.6AA%N$=3JM/N?-4KESU-01`9S6B>AG):D M\8XI)(PP-/0<4YNE2G9C:NC&NM/60GY:?867D$<<9K2(!-/5!Z5LZKM8Q5&/ M-S#T&%IU`%%<[.@*0M3L5$PYH0$@.:*8F:DQ0P$I0:7M28I`)1110`N:2BB@ M!13J93J`%HI*3/-`Q:;2YIA;FF(4FF%L4QY*A>8"FHB;)FD`J-I?>JLD_7FJ MS7/.,UJH7(<[&D)-W0U#+(&;KP*@\WRX=QZGI583;VZ\4E&['S61;#%VSVJS M&,"JT!&,5:2FQ(D44Y:3'I3P*@H<.E/'2F"G#-(8X4NT,I##(/:D%.'2D,A@ MLX8&+(N*L4P-ZT$YZ4/4-AY/!Q4%K*9H0QZY(/M4@YXIBQNDQ*D;"IK2*(DR&9N3QQ521Q4LL@(XJI*XK M:*,9,:[=JK2MV%.9^]0LV1S6B1C)D;'-,-*>M--68B&C-!I*!"THIN:,T`2` MUNZ5:W36PG@D*D?PGH:Y[-:EGK,UM"D7&%;.?;TJ)IM:&M)I/4Z:%7(#XV@C MYE]#5N"4YVM4,,\<\:LC`Y'3--DRI)7\*Y&=Z+%TV$K*=\MBIIK@M%SU%9AF M)DZU<(DSE8FN(0R9'6J]N6B;!J]&05YIDT8*DCK5I]"7W)#<8A/-8^H$3+SS M4[2,(RIZTU8M\!)%:17+J92ES:',L,.:4#-27";)V%1J:Z3'7E%(--S4BJSD M!023VJ9K"X"Y\LT.R)C)OE`%&?DFHH^M2W'4U%'UJNA+W+*]*< M1E::G2I.U("`CFI(Z:P[TZ,U3$MR44HI!14%"TTB@OBE#`BBP7`8%+4;-S2H M5A;6H7^.3D_2KFN6.AE3FZD[O9$UU=&1]JGY1Q2Q'`&*I M1O@9:K<+!L8K'ELCIYN9FG;'BKT?2L^VZ5H1]*RD;1)UI^*8M25F:`!3A313 MA2&+2]J049XI`$CK&A=S@`9)K#N-3GE8+;CRQ_>/)I^NWDD!0#;LV[B#WYZ5 ME&[DPLC1JJ-G!'!-:PAI:B>X<*=P)JN))``"!37 M=B#G&*M1(30`M+GFAE*G%-H`N6=W+;2AT<\=JZVSNTO;02+][ MN/2N(!K6T*[,-QY9.0XQCWK*I"ZNC:C4L[,V[E<*?<5B%RLV#6_(1+$&'0US MVIH8I!(.AI4M78VK:*YHV\I;BKRJ"G6L&QN>>:U/M0VT3@[BIS35QTL2[^E2 M1(`I7L:J&YW-4L<^!19V&FKF!K5L(IMZ]#676WK;[@*Q1UKIALCGEHVD=!X? MM4F02HWR"I8 MY,U94AUQ65W%FEDS+TN!;:38HQS6U55+<++NJUUI3?,[CBK*P9HI,4M9E!2T ME%`"T4"B@`I#UI:.]`!2=Z6B@8E%+2&@!III&:>128H$1%)S4'[QV2'*BG5'" MYQ65K64$7)KL#O5">Y)Z&JCRECR:86K MLC22/.GB7(?(Y/>H&YIS&FUJE8YW)MW'V\?F3`=AR:=/``K*;.BFKZENW4 MXK0C'%5[=.*N(N!7/)G5%#U%.%(*45F6.QBD+!1DG`J*YN([:%I96P@ZUS>J MZO\`;3%%`&2/=RV>M5&#DR9S4%J=4IR,US&L:U.MQ-!"VQ58KD=3BNDB`$2` M'@**XK5X/)U*8%]Q9BWYU=%)RU,Z\I*.@VV+7U_$MQ*S[R`23VJ7569+QH^1 M''\J#T%6/#MCY]R;AL[(C^9J#7+M+F]/E@;5XR.YK>_OV1SVM3NRIYV1CBG+ M/M4C-5J*TLC+F9.9V/0TQG)[U%FE%%AY')K-N4,4[KZ&D5C7H64CS;N#LC5%V#(,&K0F!'6L#>0< MU*MPX&,U+@5&HUN:%\OFIUS645P:F:XRZ/O6EHP^=:]"H[Q.*DFIG:6QS&*GJ M"V_U8J>O,>YZ(4444@"BBB@`I*6DH`@N!\IK.;B2M6496LV=<-5(3)HVXJ=3 M5.)JLJ:`)@:BFBW4\&G=:$["MK&N MON)?(@>4C(4$UQ5[=07$CLD&QCSG-;TKMG/7LEYG4KJ<$-C#)*<$J,`5RM[- M'.M(30-NX[=\N MW`ZYS4UHP$XR,U7IRG!R.M`+0ZW2B?)&3TJ]-@Q&N>T:^9)1&_W6XS[UT&T^ M40:YIJS.VG*\3C=8C"76X=&YJC6QK\6-C#UQ6,*[J3O%'%65I,6BB@UH8B$T M`T&FT%6)0>*4'!S3%ZBKZ0I)"2.HI,2OL7=-;S0,UMVZ;",5@:-D7&".*ZJ& M+O7)6=F=E#6-R91N7!YIX0!<"A1@4\&N2YU%(6K^=NSQFKJC`YIPHH;N)*P4 MF:6C%(844M%`Q,48HHQ0(2BEHH`2BEQ10`F*::?33UH`C(J"8C814TA`!K+O M+G;D`TF[%)7,;5+=6DR.M6-'CVN*AE`JC<:DJY&16-=:D[/\IXKHIT&SEJXF,#JHYPW>GMC&:Y MJPU%NCFM9KX>7UI3HN+'3KQG&YC+@KR18F4X;/Q-<3K$K2ZC/N.<.0/85I3AS,SJSY(G2R:O:FU=A(K'&"H-<:Q MW.2*`&(P"?I6EI^C3WL3R'Y`/NYXS70HQIG+*4JME8S.M+[5K3Z%);V3S._S M+_"/2JEM9BX@D*$^:@SCUJE-/4CV:ZR[U.VM8RH8$@<"LIS:=D;4Z<6KR.=CT2[:(OL/TJA M/;RP.5D4BMQO$3[B`JA>W%9VI:F;W`V*-O<=Z<7.^H2C3MHS/^M7=/O9HID1 M6.,\51I02#FK:NC*+L[G2:Y9PO"+A7"O@$@5S1SG!J=KN9P`7/`Q4<43RRB- M`69N@%3!.*LRZC4G=$=(:U?\`WJYLUO0^$QQ'Q""G4F*!6YSL#3<4XT8H M!`O6M;3UW+@]#66BY-;6FQD8%1-V14-9%ZVM1%)N`K9MYA@`U6MT!ZBK#P;5 M+#M7#-WW.^*LM"V"#WI1BN=N]9:UDV$543Q&YD^9<+0J$FK@ZT4[,Z\4M9%G MK$E%24%%%%`!1110`4444`%%%%`"&FD MTI-12MM&:+@5KN8*#6)<-N-6[J4LQ%47/-8MW9NHV1"%^:MG3$Y%9B+DUNZ; M'A16_0Q>YJH,**?2`<4M04%%%%`!1110`4444`%(1D4M)0!2GCJK]UJU)$R* MHS1&FA`C9J9351#@U.IH"Y.#3Q40IP-`#SS33A:4&HIR1FFMQ,;+ZA7E9V))J,FBBNNQYS=Q58KT-2_ M:9-N-QJ&BBR!2:V'B5@V[/-:5IJ&T`,:RJ`<4I04MRH5)0=T=1'B&5S7'4CR/0]"E4]JM3(N;/@D5FR1E#@UT\J9'2LJ\@Y)K2E5O MHSGKT>75&0:0M3Y!M-0,U;G,D.S4L!Q*IJMFIHC\ZU+V9<5:2-)NBFF2Q MLBG4@]*7%0]`?X:V1@#T`KEU\17`C*[`3V)/2JDNKW MDIPTG'M5.G.3U(C5IQ5D=8F;E)1(O[LDJ!ZBN:U&U;2;H21$['Y'M4MAK4V# M$?F9NA)[U8@TVZU"3?>-M0'@=Z:3@]=AR:J+W=S)U-Q/YYKI-4T]3IPBA3E>!Q3M%L7LK8^:1O;MZ"G[6T="/8WGKLVDFF M7`!;+8SD54+;S\Y)KL-5THW\BNK`$#%/#N%+2.HP.PS51JJVNY,J,KV6Q MSG/;I3Q68DXS32:G:"12`5.3T% M7;30KNY.=FQ/5N*3DD"C*3T1ECG@EHF95 MG>PE%%%;'.%+2XI,&@":W(#C-;]B!D8KG8@=XKHM.X`K*KL:T?B-JW'2IYI% M2$Y]*KQG:A/M6)K&I-&#&O4UQQ@YR.V4N57*^H".>X)ST%8\B[6(S4DY2TV.NTK7!.0K MC#>F:WE<.N0:\VCD,;AU."*Z"QU]40++D5SU*/6)M"K;21U6:<*H6NH17&-K M=:O+S7*XM;G0FGL.HHS14E!129HS0`4A-!-(30(0FJ-Y-M!%6Y&VK6'?S9?` M-1-V1I3C=D+OGFJS-DT.^1BFJ"36<$:S=D6K==S"NCL8\(*QK"$LP.*Z*!-J M"MWL8HDI:**D84444`%%%%`!1110`4444`)4,L>14](1F@#->/:#5=6P:E5J!$H-)(NX4@IU(9D7UH'!XKG9XC$V"*[62,,*R;O3U ME/2NRC5MHS@Q-#FU1S>*>D+OT4FMF+2AGD5?AL%4=*VE72V.:&%D]SG!9RX^ MZ:C>W=.JFNO%FF.E02V"L.E0L0C1X/30Y(BDKI=GH8:ERK4JRK5&Y4;36C, M0`:SKMAL-94WJ;3BNIS]X0&-4R]96J:RMJWEQ?,_?VJ;5KE[>P,D M?WB0,UR+.TCDL_K5/-%(>M=*26QQM MMZL!2T44Q"Q-Y;A@:Z?3M;C*+'+P0.MM*"1R*B<%+.*@DF:21G8Y).>:Q5'74Z'75M#J$UN`G M'-6H[^&8\,.F37&13M'('&#CG!J19VVD*2"PINBA*OW-#7+T7$PCBY1?3N:Q MF`SP3BKUK8W%V7>-0P7O56:-HW*L,'-:0LM$93O+WF0GZYI!3VP1Z=J96ABR M:VN7MI`R,:W(-8@D&^XC5MOU;F@7UQ=S M.K_ZM17+@$\=2>!79Z%9?8[!=X_>/\S5G5LHV-J+E*5^AI4AI:*Y#L&2'"&N M.UB!&N'DCZDY(KJ[V3RX?K7*7C$N?`A"FM"SY)_L\#N>:RI4P?I74P6WFV`;'&,"L.^@,;-Q3I3OH55IV5S, M-%.(IM=1QL<#4H3*YJ$=:L1M@*PK4^;5&E.:@[,Z\4M8T.L1D@%A5Q=0B;^*N5TY(Z5-,N'I29J-)ED'!IV: M@H7-(32&HY7"J32`@NY@BFN=N;C+DU=U"X)X'>L@@LU2X-[FL9)$RMNJQ"FY MA4$28K5L+?),5,DU(5RYUI-@-1+**>'!IW"XX1@4[%-WBEWBBX#J0TFZC<*0QK1@U M$8%S4Q<8IA<4U)H328BH`.*1VQ36E`JO).#2;N&B&3R`9).*QK^[SE5-3WUP M1D#-911Y&)K>G'J3):%5LNYJ:&U9R*N06F>HK4@M@`.*Z955%'![!RD5+2QV MG-:]O#M`IT<6.U65&!7'.HY'=3IJ"T,Z_AQ,I'0C%9ES&5:M^[7?%GTK*N8] MP]ZNF]!5$9O8^U/C/S`^AI&7:U+&/FQ6Q@B[K=V'L8(L\GDBL+-6=0)-Q@]@ M*JU4%9&567-(*6BC.*L@*=QCOFDI<\4@$I***!!3LXZ=:93J!H6E5OG&233: M!Q0,U--O7M)1CIW%:FHZ>+Z-;J'J1DKW-N*4G)W9WP@H*R"FLV*7-,;FD64-1;1@`4%2:D9",5M!0!Q4\$+2M@>F:3921%TY/:J4,? MGWJCU-:&HP^1;`YY-)H%OYM]&3VYI-VBV'+>:1U,-JJ6B1^@K%U6PRK$5TN. M*KW,`D0\"N6,FG<[&DU8\ZN(3$Q%5B*Z;5=./S,!7/R1E&P17I4Y\R/,JT^1 MC$I2:0"IHX"Y%:7,+-[%NSM]VWFMRUAVXK,LT9"!6U;=.:Y*LF=M*"2+D0P* MH:Y!YEJ^/2M%!P*2XB\V(K7/&5I7.AJZL>>D[25/44A-:^J:5(DC.@XZXK'( M*G!!%>BI*2T.#EY6)2TE+3+"G=J04&D(2E5R*2BF#5T.W'.96WVJM:VXB0<58)KSIOF>AWP5E9B$XJA M=W&,U;ED`!K)NVR:<(7%*5D4)SO))J!4YJ=V7O21(78`"M:EC.FWAJB<4P!I*C:0YZTC*:C8&@!S25&6S32*3&*8KCNM M*`13014@84F0+DTX,12#!IV!2:)%$AI?--)MI=M3J,/.-'F^](4P.E12*:6K M$VT2&<>M1/<#UJNR-ZTPQGUJE3DS)U;#Y+CT-1!F<]Z79BG+@#WK>%"VK,O; M-O0K30&1^]20V?3BK<2`G)JTBBM&TMC6-WN0Q6H':K<=N!VI5`%3(164GF,]9ED;(""*S)H]K57,K5;4']ZG;@UE'I74RP"9&4G[PQ7-3PM#*R.,$&M: ME&:0FD%`Q311UI>@H$-(IRXVG(Y[44E`Q:***0! MZ8K3TJ\>"4!#C<0"*S>U$;%&W#M2DKJQ49A*P90NGCO(9(5E+J`1G!-MH?E3+G]*NV-S]KMEFV%0W3/>IES/614.5:1+%%%%0:"4 MT\4ZFFF!3F42,:JW%J77`Q5[')I"N:M.QFU:HVL6,5J0C`KEJ,ZH(G3I3\TP M'%.SD5@:#)H4E4@@5RVMZ>L6748]<5UE8.ON/):MJ+?-8SJI17/"-V=#:2U) M+JZ`S@UES7.3UYJ&:X:4\9I8H#(1@&NJR@CD;M!M#2 M?96HU"S'^<#WJ-W%'V9J0V[4T["<;D1:F$C-3_9FH^S-6L:C1DZ-RN3FFA>] M6OLS4OV=JT]J2J+1&C`=:F68"F?9V%((6J7.YK&#)#.XFG!2:F$-2"*D,IO&.N*J3@H,BM:2'U7DQC@U5[.Z%;F5FW< MY`SM-U%(:LS'4E`H-(84M)UZ"B@!U)GBBC M'%`$MJD3S`3.4CP22*624@E48[,\9J'VI<98`"E;6Y2>ED36D1N;J.+^\17< MQ1K%$J(,*HP*QM$THVY%Q*,/MP`3FMJN6K+F>AVT8.*U'&DS24E9&PN::W2E MI#0(A.#@]>!5:XGA1MSG('85429%7RBD M9=SA1ZUFRN99#CIVJ2\O6N&PO"#H*GTRT,\JCMWK5:*[,7[SLB[X?M'W-/*F M,<+6]4<:".,*O`%.)Q7-)\SN=,8\JL.)I,TPO4;24K%$Q8>M,9@14!EJ)IJ= M@N%Q&&!K*FA`.<5HM+5>7#5<6T2TF5XFVGFKT4JUGNA!R*19"M.6I*1KJ0:> M#6;'JNZG!J0%D.*7=58/3 M@]`%@&E!J`-2AZ0$V:7-1AJ7-`$E%)2T`%%%%`"4444`)12T4`)BDQ3J*`&X MHQ3J*`&8YI,9I^*,4`,V4;*?116/2IJ*`L0^4/2 MD\D>E3T4@L0>2/2CRAZ5/1BG<+%?R1Z4GV?GM5G%&*+C*P@^E.$(J?%%%P(A M&/2GA!3J*0";11@4ZB@!N*I7MMN&]!SWJ_2$9XIIV$U2!UQDDBJ@KOB[H\V6DK"]J`?444?6F26 MK:Y2&"1&B5RV,%ATJK10*213DVA:.U)1G%`@K=T#3?.;[3,OR+]T'N:S=.M? MMMY'%T4\L?:NTBC6&)(XQA5&`*QK3MHCIH0O[S'T44EH'I67-.6)YZ]O2HAEF,DC,&H_)IZ,7O(G:8,AYK!U&#S7XK9V<5$\`8]*TIV MB[F=2\E9E'3]/7@D5M1VD:@<"F6\82K2XJ:C!2`<#3LT@%+B@">EHHI`%%%%`!1110`4 M444`%)2T4`)12T4`)12T4`)BBEHH`2BEHH`2BEHH`2BEHH`2BEHH`****`"B MBB@`HI**`%HI**`%HI**`$8`C!Z5F7=JT;;TZ5J4AP>M-.PFKF1%*&^M3AJC MO+0H3)%^0JO%=#=M<8/O6MKZHSVW-`-FEJ!6!&5J0-ZU)1%?6<=Y`58?,!P: MXR9#%(R,""IP0:[EWV(6`S@=JY?6WCEE25`59N&4C'(K:C)WL<]>*:N9=%%) M72<8M%)G%21,@#;UW9''.,4AH8>E%!I*8BW87+6ETDBG&#@_2NS@N([E`\;! MA[5P0/-;'AN=UO?+`)5AS[5A5A=7.FA4L^4ZJJ][>164/F2GV`]:DFD\J)WP M6VJ3@=ZXS5-2EOY!O&U5X"^E8TX*GNKF6\8`@A!T%26MD M\C`!36T5RK4YY/G=D0QQO(0H&:Z31]($/[V8?-V%2:;IB0`/(,MZ5J[L5A4J M7T1T4Z5M6/`P*4U'NI=U8FXM(RYHS2YH&1%:85JLF.U2";%6?LGM^E(;0^E,1$+C%'VGVJ3[(?2C[+[4!9 M$?VDTGVIA4OV4^E'V4^GZ4[BY41&\?U-)]L?U-3?9#Z4?8SZ?I3N+E(?M3GN M:43L:E^R'TIPM3Z&BX]5C]*Z$[G(U;0*,T`9.*G>T=4+AE8`=C1<23>Q!FBI+>`SL1O5 M,?WC22QF%RK$9]J+A9VN.MH&N9UB4@%CU)QBNRT_3H+&,",`OC#/W-<=9QF: MX50VWW%=8+PI$J+R5&,GO6%6[T1TT$MV:/TKD;G29SJ+&0?NF8G<,5KO>2L> MN*JS7&!EFR?2H@G$UGRRW-.*:..%40\(H!-4+B]ME8F1M[=A6;+---\JY5?0 M4Z#3Y)6R$9CZFJ4$M62YMZ)"W%[+,-L0V+ZU%%9O(>06-;=KHIR#+P/2M6*S MAB'R@4G42T0*DY:LP;?33P6%:<$4<`&%&:O>4OM37@!'%9N=]S90ML1><*7S MA2-;U$8R*6@]2<2BE$H]:K'-`S185RV)!2AZK`FG!J5AW+(>EW5`&I0V:5AW M)LTO%1`\TN:!W)*7`IF:<#Q2`-M)MIP-+0!'MHVU)11<"+91L]JEHQ1<+$7E M^U)Y?M4V*7%%PL0^7[4GE>U3XHQ1<"#R_:CRO:I\4N*+@0>5[4>5[5/11<"# MRO:@1>U3T47`A\OVI?+]JEHHN!'L]J79[4^BBX#-OM2XIU%(8F*7%%+0`F*, M4M%`"44M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`"44M)0`4444`%(:6D-`#33":>13",4Q#&-1L:D89J)@:I$ MLBE6B6,9JC)S3F!]*8:HD:5S2&#-!;%*LP!IZBT&_8\TC:;O M''!JTEPOK4R7*^U*[#E3,>72IP/E!(]JI2:=*O56'X5UT=RGJ*G62)NN#1[6 M2!T8LX)K20'[A_*F&&9?X3^`KOWM[>0?=6J[:=%Z"J5?NB'A^S.($,F?NG\J M<+5V.6XKKY=/C!X6G1Z;&?X/SI^V0OJYSEI&EN,A2S>M6_-=APAKH4TV%>J@ MU.EM"GW8Q^59NJC54FCF5AN)>`I_*K,.C2RY:26PA`8HB(JPII0T]I5J)I13$!04P@4-)[U&7JB1Q-)NIA.:`#3`?NIP--"T] M5I`/!IXIH6GJ*10M.%(!2@4ACA2T@I<4@"EHQ2TAB8I:**`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@!:***`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"DI:*`$HI: M2@`HHHH`0BD*YIU%`$16FE.:FHP*=Q%9HZC:'VJX5%-V4[BL9[P>U1/;Y[5J M&/--,7M5*0N4QVMSZ5"T'/2MLP^U,:`>E4IDN)B-`W:FE'7O6RUN#VJ-K;VI M\Y/*90>13U-2"[=?6KK6OH*B:U/]VJNF*S1&FHL/6GC4SZTTVA_NTPVG^S2M M$=Y%D:GD1:_ MM.C^U![U6^R9[&FFS]!1:(KR+8U//>C^T0>]4C9GL#31:-Z&GRQ#FD7_`+=G MO1]L)[U36V8=C4@@/I2LAW9,;DGO2>>3WIJP'TIX@YZ4:!J(932!B:F$`]*D M$..U*Z"S*V":<$-6EC'I3@E*Y5BL(Z>L=3A*=MI7"Q$$IP45*%I0N*5QV&!: M4"G@4 M*GQ1BBX6(/)!H\D5/BE`HN%BOY`I?(%6,447"Q!Y(H\D5/BBBX6(/)%'E"IZ M2BX6(A&*7RA4E+1<"+R@*=Y8I]%`#/+HV4^B@!NP4;:=12`3`H(I:*!A1110 M`444M`"44M%`"44M%`"44M%`"44M%`"44M%`"44M%`"44M%`!1110`E%%%`" MT444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`"T444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`E%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%+10`E+110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`(2`"2<`=:J6^H1W(B:..3RY<[),#!Q^/' MXU:?.QMHR<<"L6STV6WO8YK:.2WB=6-Q`7!3..-HSZU44FG[.%D&&X]JEW#.,C/UKBTLVMXC;7D5P"(1YGEH)1&/,+9&#QP*O7VF7- MQ>7%Q;VVY':%HGRH.%ZXR*J6>HPWIE9$&D7L<$ M8>WR`)P8MR]6'RGKCV]J%&.JN#E+2R.H+`'!(H)`ZG%8,.DS/?VAO81-%':" M-W8@@OG/U/UJQJ]G/<7=NRH\MN%=)$C*@C(Z_-Q1RJ]K@INU[%Z&]CFN[BV4 M,'M]N_(&.1D8JQN&`$2+YB`%AGH#T_E4FX8SD M>G6N;O\`2;ESJ8AM0WVA(Q$0R\8QD9)S5B]TMPT)MK<&(12!X@0/G9:6,HZ^5C+L,*V?0US#:-J&YV:#S)/W&V3> MN3M^]R3FK-WIU\=7GNH[*`0>_OWJO9Q[_`-:"]I+M_6IT=5H[ MZ*2^EM`&\R-`Y)Q@@^E136KG1I+6T4P,8BL:ELE?;-8;:7?D2F&U,68(EV[E M&\J1N'![U,8Q=[LJ4I*UD=#-?10W=O;L&+7&[8PQC@9-26]PMQ"LFQX]V?ED M&&Z^E9']GS"]L)8[>7RD:5W$CKE=P]`<=>PJ&WTB[33+$K&(KRVE/WB#\C$Y MZ'T.:?+&V_\`6HN>5]CHMP]1^=)O7^\/SK%@TV6'4Y-TN`/Y`5B7&EWTUV[+:[$;SUYD!!##Y3R<]?R]* M2BKM7&YNR=CHUN(GMA<*X,17?N]NM165]'>P^;&DB(>5+@#<,=1S5>VMI%T` M6S0;9?(V%..6QCZ=:STTJ9H]'CFM04@#"<$K@9&/7FFHQUU)YI63L=#N&<9& M32;@1P<\9X-<_=Z?=_VDDEO:%88IXV!60?,H7!ZGCTQ3-'TN[M+NTDDMM@5) M1(0R]SD=#S1R*U[ASRO:QKPZI!-IS7JJ_EJ&)4@;OEZ]_:I+>^CN&CV1R!9( MA*'(^4`]B?6L"TT[4H+22&2U$@DAD1?F3,3$GOGH*"%Y9754098YZ4\,IQ@CD9%74@GOUZ\UHV]A.-3DDF@D$999(BK*`N%P5/?N>!QS2<(KJ"J2?0V M]R_WAZ]:"RCJ0/QKE;?1;M$@#V0)$/E8L2%ZYZ<9J9]+GDM+9EM7\Q9XWDC=D MZ*,';CC'3ZTW"-]Q*)_F!\UR20?U MSD^M+D7N.]:=W97D^G7!12+AV3Y"PRRKCC/3GD_C3<(KJ2IR:V->658H6D/* MJ,\=ZCM+J.\M8KB/(2494-P:QI].G,D$D=O*\.)2T,C*2K,.N,XZ^E0V>E7B M&W2YAE\L0JGR.N8V#9_+IR*%"-M_ZU!SE?;^M#8BU2*4-LBF.R?R&`4<'UZ] M/>KH93T(/XUSC:9>,&!MB0=1\_[R_P"K]>OZ58ATFXALKVWC95QO6U.>0K5'=.`HP2,' M&.GO5B[TZ)=2MA9")`5,,\8QQ&03T_`_G2Y%W#G>]C;I:0``8`P!2UF:A111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110!%);PRL&DAC=AT+*"14E+10`5'+#%-M\V-'VG(W*#@U)10`E+11 M0`4444`%%%%`!1110`4444`%%%%`!1110`4R2..5=LJ*Z]<,,BGT4`)2T44` M%%%%`!1110`4444`%%%%`!4;PQ/(LCQHSI]UBH)'T-244`%%%%`!1110`444 M4`%%%%`!1110`4444`%,\N,2F4(OF$8+8YQZ9I]%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` '%%%%`'__V3\_ ` end GRAPHIC 12 tf1_a0415x24x1.jpg begin 644 tf1_a0415x24x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M-@*S`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`R-7U"ZBO;33[!8OM%SN;?+DJB@<\#J:JRZIJUE]CB MO8+U72GO9K>ZM;G[-=V^=DFW<"#U!%5!X>F?[.]S MJ,DTT=T+EF9/E./X5&?E%"_K[P98_P"$ALQ>_9I$N(\LRK*\1",5ZX-,M_$M MC/#+,$N$AC0R>8\1VL!Z$?RJE%X5D345NFOE)65I`QAR[`]BQ/;MQ^%):>%' MMYYI3>1JSQ-&/*MPH;/=E)*GZ8%+H/J;&F:K#J:N88IX]N#^]3;D'H0>AK,O M?$4MMKZVBQ(;)&2*>4@Y5V!QSG&.G:I]!T%M(FGE:=&,H`V1IL08[XR>:K/X M.M)K>X-S*TE[,[/]I&Y=I)X^7=CBGU$;EW="V,*A=\DT@C1?):N`Y`QN!4J3C\M`%BWU7SKR"U:VDCDDA\UB?NKT^4''/WJK MKKX?+K:L84*^9('^ZK,0IQCG(&?8'O5R\L'GN5GBF$;I#)$HVYY;'/X8JK)H MASY<,X2W=(UE0IDD)TP<\9Z'@T`2:?K"W]Y+!&D06-F4GSE+\'&=G4"K5[<3 M0*@@MC.[DC[VU5`&4WS'/S%3V]@,T76B[HA% M9SF%&;,JR[Y1(!T'WP0/7'6CH'4%UIIHX&M;.29IHA)MW8VY8`9]NO/M4$WB M-8HE9K8[@9`X,@`&PX(4_P`1YX%3OI=TT,X2\CBFEV)OCA("HH^Z!NR.2>_> MH9]"EEBC42VHVQ-#M^S'8JGNH+'#>^>:`)KK7$MK@Q?9I7&Z-=P!P"Y[\<8! M'US3EUA9-6DL(TB+1MM):=0Q.W/"]2.:1='_`-!:W:V:`+=E="\M5F"E"2592<[6!P1^8JQ M5+2;=[>S/FC;)+(\K+_=+,3C\,U=H`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"F22+%&TCG"H"Q)[`4^J]_:)?V4MK(\B)*NUFC(!Q^(-)^0(Y MG0?$=W=ZA,EPZ2K/&TMK$I4%<$_(<=R/6KP\5VIACE$+E3`TTH!&8P#C!]R> M*MGP[IRO:R00BWDMF#*\*JK-@=&..^%XXY.:;` MH+XQA-I/*UK^\B"-Y:3*X96..HZ$9Y%27_B:73DC-UIIC8KN96N$R!G'`_B/ M?BIE\,6WV:2"6ZNI0Y7EG'RA3D`#&.W)Q3]2\.6VHW[\4"#[2\-C)/;VVT22APN&;H,?C23^+;:'4#;F',:.J/)YJ@@GT7J M0.YK/U7PY?37,\-I&P@G\L&07`"G;CETQDGZ<5LMXFY2>XC#,KR1HP"N MP[],CWP:$#$\3ZE+I]C$EK*D5S<2".-WQA?4G/&/\:JVGB9CHUC.\)N;F:7[ M.RHP7Y_Y<\?G6I=Z/:7U]%=72F;RD*K$X#1\]3@CK54>&;%+D31-+$HG6=8D M*A%8#'`QP*$#(?\`A)\6Z,;"3SS=&U,(D'#X]>AI\7B172$26CQRO=_9'3># ML;USW%3_`/"/VGF!_,FR+LW?WA]_TZ=/\YIDWARUDCD59IXW:Z-T)%(RCGTX MZ4+^OP_X(?U^?_`*UUXI$`F*V>[RIGB)>=4!VXZ9ZDYZ4_3-8EU#751&*VDE MDLRQD#(8MCKUIO\`PB%F)/,6[NQ(S,7UU)HH[FX2'R_)1MF>IR1DT2:_)8^=$\,M] M'9D+=70VI@GT7O\`A6MJ&G0Z@;?SF=?L\RS+L(&2/7CI5*\\.6UU=2RF>XCC MN"#/"CX20CIGBA#*>F^(;N;3[^\N+3HX_G2Q>&;6-T-E(>)Y[J\T_[':[H9?,\U=ZYRO4`^@ZY[U>M_$4 M<\>GN+=E^VB0@;ON[/\`'%._X1V#%H1=7.^V9B'+Y+ANH/'3Z4RT\,6MK-!( M+JZ=;?>(HV9=J!@>/?VJU8Z?%8&X,3 M.WVB9IFW$<,>N..E,"W1112`****`"BBB@`HHHH`**R-5U&YM-1LH(A$D,S8 M9Y<@'K\H/0'^=1OJMZETUJT4`E=E"8)(CW$\-ZG`SQB@#;HK'EU:)? M[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z M?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP M?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\ M:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+ M_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_?!_QHQ+_? M3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_&C$O]]/\` MO@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_ M`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0 M!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\:50X/S,I'LN/ZT`/ MHHHH`****`"BBB@`IKNL:,[L%51DDG``IU4M8M'O])N;6)@KRQE5)Z9I/8:W M(H=>TN=)GBNT80KO?@C"^O3D?2M!&#H&4Y5AD&NU3UA>'M/O=+FNK>=(OLSD21M%PH;H5P3G ML*W:;`****0!1110`4444`%%%%`!1110`4444`%%%%`!4&/0$8R*:F MO:7)#+,EY&4BQO//&>GU_"L6QTZ_,D37MB_F&5KBJ7%O#P1UR:`.GBU.SF2!XYU9;@D1D`\D`D_3& M#UJ-]9TY+/[6UT@M]YC$G."P[?I6-H^D7#2)'J%N1;I'*55V!+%VZ,1U.!S] M:8-(N8M'BA>QED,5U)($AG$;*#G:1^?3(H8'36]Q%=0)/`X>)QE6'<457TB. M[BTNWCOGWW*IAR3DY]SWHIO<5R[1112&9NI:2FHW%O(\\B+&V713PXY_+KU] M*:NBJD;*+VY),GFJS;,J^>N=O/ISGBM2B@#*?15=$B%S+'%$FQ-NW=@@A\DC MOD?EQ0V@VS%QYDHC(.Q`1B,G&67C.>!UK5HH`KV=JMI"4#M(S,7=VQEF/4\< M58HHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"HKB-I861)#&QZ,.HJ6FR!S&PC(5\':6&0#[B@"A_ M9]Q_S_R_K_C1_9]Q_P`_\OZ_XU!I-[(ED!=&>YD-Q+'O2,MTO-AB,"+2V;2VKQ*Q+20E M20`?NYQ^=+K$]Q'IMN("=\TD<98-M.#[]O3/O0!+_9]Q_P`_\OZ_XT?V?M6=0GO+6ZEE-P_D M7`.S:QW*GR\A3]TCD9[EA0!J?V?G.SLVQBZ[&)C)W M+Z'CD2(?L]OY8;<%\GC/KTJ>WN=,M4*6PCA0G)6.+:,^O`JS]LM?(\_[3#Y.<>9 MO&W/UIT=Q!*Y2.:-W`R55@3CUH`A_M*T_P">W_CI_P`*/[2M/^>W_CI_PJW1 M0!4_M*T_Y[?^.G_"C^TK3_GM_P".G_"K=%`%3^TK3_GM_P".G_"C^TK3_GM_ MXZ?\*MT4`5/[2M/^>W_CI_PH_M*T_P">W_CI_P`*MT4`5/[2M/\`GM_XZ?\` M"C^TK3_GM_XZ?\*MT4`5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PJW10!4_M*T_Y M[?\`CI_PH_M*T_Y[?^.G_"K=%`%3^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"K=% M`%3^TK3_`)[?^.G_``H_M*T_Y[?^.G_"K=)0!3DO[&6-HY'5T88960D$>XQ4 M!ZG@U)<7:6]L)B MKN&P%5%RS$]!0!62XTQ+<6ZB,0CI&(SM_+%++7?^[1,LNTX;//8FAM:M4EFC990T0)^Z/F(QE1SURRC\:`'PWFGP M1+%$RHB]%"'`_2BKP.0#C'L:*`%HHHH`**H7NJ16=Y;VS12R/,?^6:YVCU/Y M=J'U>U59RF^4PR+$PC7)+'L/6@"_15*YU**U@CEEBF!D!(C"Y8`#))'L*C;6 MK17D4F3:@)#A?E10!HT5!:727K6LFI/ M8*S^Z\]?(@8J[CD`CM[]:`+E%5KN^@LT1YF;YSA0J M%B>,G@<\"H&UFP61E,_"KNW[3M/&<`XP3CG'6@#0HJ"UNHKN+S(2V`2I#*59 M2.Q!Y%3T`%5[^%KFRFA18F9U("R@[3[''.*L4R57:,K&_EL>C8SC\*`,JPTF M6%Y9-_V)'<,MO:L-@P,'.5[^P%,U#1&N[B_EC,:&YMUC5N^X$YSQT(VC\*T/ ML]W_`,_O_D(4?9[O_G]_\A"@#"&@WRKN7R@6DW,AER<;=N0Q3C\!T[U>\,Z/ M+I%E)'<>2TS/G?'D_+@#&2!Z5?\`L]W_`,_O_D(4?9[O_G]_\A"@"W153[/= M_P#/[_Y"%'V>[_Y_?_(0H`MT54^SW?\`S^_^0A1]GN_^?W_R$*`+=%5/L]W_ M`,_O_D(4?9[O_G]_\A"@"W153[/=_P#/[_Y"%'V>[_Y_?_(0H`MT54^SW?\` MS^_^0A1]GN_^?W_R$*`+=%5/L]W_`,_O_D(4?9[O_G]_\A"@"W153[/=_P#/ M[_Y"%'V>[_Y_?_(0H`MT54^SW?\`S^_^0A1]GN_^?W_R$*`+=,FB6:)HWSM8 M8."0?S%5_L]W_P`_O_D(4?9[O_G]_P#(0H`I+H:V^BW5E;OF29'7>[-C)SCN M<=>U6[A+O[-Y4,<#`*H(=R-_]X<#CCH>?I3OL]W_`,_O_D(4?9[O_G]_\A"@ M#&;0I_L@B-K92Y$@02,Q-ON.1M;'./H#GO5B]T:23:;?8LR19,W1I)``!D]N MF<^N/2M'[/=_\_O_`)"%'V>[_P"?W_R$*`"PBN8K-$N),R`GJ=Q`R<#/?`P, MT4?9[O\`Y_?_`"$**=R>4MT444BC%UO3[N\O;*2V$8$;Y,F2KQ\'/(Z@^GKB MI;S3I)6N6$%M<+)(CB*;."%&#VX/YUJT4`8!TZ^6&""-(BT$31[F+RHF:2)B3EF.#@C'`R#S[BNCHH`J:=;RP0R&?:))96D M95.0N>V<#/%3^4OJ_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I**`(_ M*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T>4OJ__?9_QJ2B@"/RE]7_ M`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4OJ_\`WV?\:DHH`C\I?5_^ M^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[[/\`C1Y2^K_]]G_&I**`(_*7U?\`[[/^ M-'E+ZO\`]]G_`!J2B@"/RE]7_P"^S_C1Y2^K_P#?9_QJ2B@"/RE]7_[[/^-' ME+ZO_P!]G_&I**`(_*7U?_OL_P"-'E+ZO_WV?\:DHH`C\I?5_P#OL_XT>4OJ M_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I**`(_*7U?_OL_XT>4OJ__ M`'V?\:<[JB[G8*H[DX%4;C5H(V\NWSD,1^;\6H`T/*7U?_OL_XU'( M8(@3)-L`ZEI2,?K5/^Q(A\JW-RL)ZQB3@FI4T;3T((ME)']XD_S-`$4-C^=(=1,7SW-E=0PG^,N3CZC/%:](0&!!`(/!![T`4Q>6!;:+M,XS_ M`*X_XU6;4H7:!;ZN/D\Z!@.?,+,"?P%:]%`&2;;5S_RVMQ[A MGH_LW4.O]JOD_>^3('TYK6HH`R6T[45'[K4F8G@[UQCW%6;*RDMI"TEY-/E< M%7/&?6KM%`'/V]O=IXIFD2W:*!US*P8%)!\V#C^]G'Y'UJ'4-%O)K&[BMEBC M3SI'2$KPX*@+C!&,G22$7$@R!C@>@)]33)/$&FQPM,;C< MBRF+**6RP&3C'4`=Z!]2IJ`NKF%/*@F^T6SF-GA*C.4&2`V1M.<>HK,BT&_M MX/LL:2,RY9I#+^[D7:,*!G@[AUQ^-=+=ZI9V=K'3M.,8SUQUP1QUH%T2)-*CE47,TL31&XF,@1B,J,`#./I5^J M]E>P7]N)[9]R$D'((((Z@@]#5B@`IL@[N;[285C>=+M$$BS&,B. M0CL3T((_G5R272983#(D31EMQ0Q<9ZYQCK4JZA9*@19`%`P%"'`'Y4!U,@:K M>);V]TJ%Y=0;,<>"ZQ(!D#`QDGO_`/6J.#Q/Z' MD=!^=:LLNDS6ZV\B1-"N-L9B^5?H,<4Q5T19/,6WM@_0'R.GZ4`6M*GN+K3X MKBY$8>50X$><`$9`Y[UW_CI_PIL$6Z M*J?VE:?\]O\`QT_X4?VE:?\`/;_QT_X4@+=%5/[2M/\`GM_XZ?\`"C^TK3_G MM_XZ?\*`+=%5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PH`MT54_M*T_Y[?\`CI_P MH_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"@"W153^TK3_ M`)[?^.G_``H_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/^>W_`(Z?\*`+ M=,F9DB9HXS(P'"`@$_G5?^TK3_GM_P".G_"C^TK3_GM_XZ?\*`,E;Z>\TV.6 M[\^V/F,JI`PWSG)`5<'(QCGZ>E7BEP-&ABN[HQW)"JS*P4NW]T'U/3(I;F;2 MKL*+I(9POW1)#NQ],BFE]',1B\J#RRH0J(>,#D#ITS0!B/>WHM3OEN,P)-Q' M(NY75N"QS\R@8YZ>M37%QJ%NWG3SNJ7,>=J,247"Y(7HI'S#/BA#@?I13T)U+]%%%(H****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HJD^K64=TUN\P5UZD],^F:B;6K M8L1"D\X'5HH\@4`:5%9?V^\NY-MA;!%7[SW((&?0`4G]G7S`N^I2+(_WPHRH M'HH[?6@#2DD2)"TCJBCNQP*J#5[`AB+I/EZYX_+U_"F1Z'I\>"8-[#J68G/] M*MFUMR5)MXB5^[\@X^E`%(ZPL@(L[:>X;HK!,*?J>U(MA?3?O;B_DBD/\$/W M5'I[UI\`>@%94_B71K>0QR7\6X==N6'Y@&@!QMM3M_F@O!<#J8YEQG\:7[1J MTF%2RAB/=I)=P/X"DM_$6CW!Q'J$&AMX;=2L,21@]=HQFL>]\7:/:,5$YN''\,"[OUZ M?K63/XYDG8QZ5ILLK>LG./\`@*_XT`=G17$CQ;KBY5]%);.!MC<4TW7B_4AN M58[&(]R`G_H66H`[BBN!DL_$B9B_MR-@>7<9_P!N$?XT`=S) M<01'$LT:'T9@*C34+*1]B7=NS=,"0$_SKC8_!MDS?))>S#/50J#\R#4C^";= MD(BCO%?L6E0C_P!!%`';U%+9Y.F/O"GKX%C4?.9W M/^S(H_F*`.LEU33X1F6^MD'O*O\`C4)\0:0$W?VE;8]I!G\JYR+P1`&!:.<\ M_P`$[-6W+;6\N.S`K_`"-:&F:9#9SM)'8VUN2I7=&/ MF/(_3B@#-U&QO9/%EM-;V^V)DQ+,K<.F1N5A_+\/2H9]-U&WL;JVLK`%9[MS ME'12D)`'RY/!/2KE]FMXO M?*>*Y9/W*`ECM&U%R#W/X^U);?UW'U*VI6USJ%M;?9K&5/L+F+RDF"MS&,$, M#V)`//8U2&A:LLDR2Q23>8"\KK4*/, M$2@L[D<*N0?XJS[Z^U*R(:6Y.^6%N-B^6L@`PJ]3NSGKQ3ZL78O^'+.YM+*8 MWFX2SSM*0Y!8`XZXXSQVK7K.T2>:>UE%PTA>*5DQ*`'`XP&QQG![>U:--@%% M%%(`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HJ&6Z@@DCCFFC1Y3A%9@"Q]J<\\4:NSRHH3[ MQ9@-OU]*`)**C>>*-%>25$1B`&9@`<]*//A#NGFIO0;F7<,J/4^E`$E%,CD2 M5`\;JZ-R&4Y!I]`!114,MU!"<22J#Z=Z`)J*B6Y@9=PFCQ_O"HWO[5/^6H/L MO-`%FBJ?VV1O]7:3,/5AMJO<:N;8XFA1#_=,H)_(4`:E%9T.KQ3+E896/^R, MU'/KD4(),;`>KG:*`-6BN7N/$ASQ<6R#N%F3/\ZIS>*84QMNFR>YDR!^`!H` M[2J]Y>0V47F3-[!1R6/H!7%-XPA`^::Z=O1!@?F3_2H!K5U?$+IFCR,YXWN2 M_P#(`"@#M1J]H84D#,=_\(7D?7TJ&XUN*)`RQMSW?@?I7+PR^*99/*M],2WD M3[TABP#^+DC\JL&V\;.,M<1\CH?+X_2@#>74[WR#<-:?N1U.T@X]<9SC\*:^ MHSWI2"UVV^\?-(YY'T'K6%_PC?B4CSSK1\\7,D\I.2R?NP/8`?UJW#I%C""!;AP?^>K&3_T(F@"C<^(@F!;V MN]L(E8:KI\D=N\LF\*`8]\;=>#Z$=<_CVI]S:F"YN) M/)E:#[5'+)\I?<-O)[YP<=.F*W\`XXZ4M`'+2J196D$L$KF."0-$(BQ4N"(^ MWL1[5!)9W7EF(V\K3QL[3,$)WH=O`/\`%D#I[5UX`!)`&3U/K2T`9^CJ1;S, M$:..2=WC5E*G:3Z'IGD_C7(2^)M1G;$-G=.P^\N",?D*[^B@#SY]2\12`EM* MNROH4Q6_LKG/Z#G\Z M[VB@#B!X"FD.;C4C(>/X3_7-21^`+<-^]N9&7T4@'^1KLZ*`.73P1IBXW12/ M_O3G^BU9A\)Z3"01I\;D=WF<_ITK?HH`I0:?;6W^HL+2/_=4#_V6K.9?[B?] M]G_"I**`(\R_W$_[[/\`A1F7^XG_`'V?\*DHH`CS+_<3_OL_X49E_N)_WV?\ M*DHH`CS+_<3_`+[/^%&9?[B?]]G_``J2B@"/,O\`<3_OL_X49E_N)_WV?\*D MHH`CS+_<3_OL_P"%&9?[B?\`?9_PJ2B@"/,O]Q/^^S_A1F7^XG_?9_PJ2B@" M/,O]Q/\`OL_X49E_N)_WV?\`"I**`(\R_P!Q/^^S_A1F7^XG_?9_PJ2B@"/, MO]Q/^^S_`(49E_N)_P!]G_"I**`(\R_W$_[[/^%&9?[B?]]G_"I**`(\R_W$ M_P"^S_A1F7^XG_?9_P`*DHH`CS+_`'$_[[/^%&9?[B?]]G_"I**`(\R_W$_[ M[/\`A1F7^XG_`'V?\*DHH`CS+_<3_OL_X49E_N)_WV?\*DHH`CS+_<3_`+[/ M^%&9?[B?]]G_``J2B@"/,O\`<3_OL_X4JER?F50/9L_TI]%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!112`@D@$''7VH`6BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@!*XBV^SE[^#[1&BM.C/<2!\$9'RNH(P< MYYR._2NXI@BC4N0BCS#EN/O'&.?P%'4#F;JYAETZR68&)QM0,X M!SU+%<_4UU](`!T&*6J$%%%%(`HHHH`*J:H\$>FSO=.R0!?G*G!QZ?CTJW10 M!QQ,,@LU::)K))"\JI+N2)7;"J6'88P?K2V4DW]H6/S[Y6,>TLY#K%AN-O<$ M#QUHP,YP,^M`"T444`%%%%`!1110!FZ[+:PZ<6O#^[W@!-^ MT.W92?3UK'\HR6+.MV9%MEAC#Q/E7.[<1GN.5_*NJI``,X'7K0@,^-&77YF, MCL'MU(4GA?F/2M&BB@.H4444`%%%%`!6%KKVAOK6&2X6*Y;!1GEVK&H898>K M'H*W:2@#GY%+6EG=M+*JRW+2%4[AMV#QR2%QBI_#C1XNT@=7@$@,;(Q*X*CC MGOZ^YK9``&`,`4``#```]J%H#U%HHHH`****`"L;Q(]JMO$EQ(JR2$K$'DV( M&Q]YC[=:V:*`.=1#)/!="X=U-XL8((Q(%7;D^O(;\Z?H#*M]<(DD,Y8&1Y45 M@RG>?E8$]?P'2MX`#H,4``9P`,]:`%HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`K#_P"$PT+_`)_O_(+_`/Q-;E>5_P#"'Z[_`,^/ M_D9/_BJ`/2I-1M8K%+UY<6\@4J^TG(;IQC/>I+6YBNX1+`Q9"<`E2OZ&LQ]/ MN'\/Z?:;62:(0"3:P!3;MW8/3C!J'4M+G>1GC62Y\NV*QM))R6+<]",G:3Z> ME`&]59M0M42-VE^63.S"DYQUKFX-&ORCL\#J8QF`%U7:=X/`#$#C--.C:HLH M_M`'853MM4L[JX:""4O(I(/[M@.#@\D8JAHNG3V5P M'DC*!X3YA+YR^\D=_2JLVD7HTPA9)RS3LSP;E92AX4J8IVD7$*@'@\]#PQZMCGVS1W`ZEYHTECB9L/)G8/7'6F?:X-DK[_EB;8^`>#QQ^HKG] M%TV^@U"*6:!HX5)/)48)3!X#'O\`G5F:"]\J_MX[.8F>?S$E#H%Q\O\`M9[' MM1U`W'8(C.QPJC)/M389XYU+1.&`.#CL<`_R(KEI-"O/LSE(&\\QJ0?-'W_, M.3U_N_IQ23Z1?"#8EO(`9-SA"I+DHH!Y8=&!_//-`SJGFC26.)FP\F=@]<=: MJKJ]DU[]C$K>?G;M\MNOUQC\:R+73;];^*1T9;A=^Z[X[?K4F MLZ??3S[X@77RHUD*`?/AB2`I/N#C-`CH:*Y6WT.ZDV-=Q.Y\R(?-(,B,9W#@ M_0?XUHZ#I\]B6\U"F^%`V7W9<%L]_3;0!LT444`17$\=M"TTS;8UQDX)[X[5 M5CUG3Y9%C2XR[D*HV-R3^%.UB"2YTR:&%=TC;<#('\0/>N?LM&U"*]@D>WPB M2*S'>O`!^M`'0WFIV=C(L=S-Y;,-P^4GCU)`X_&K8((!!R#T(K"UVPN;J[#P MQ7+H;=H\P2(GS$CAMQ&16=/I6J37#G[.5+*4=HW`5AA<8);/8\8&*$#.KEFC MAV>8VW>P1?/E7&<\?IU[U56SOK6,+@ MV\D\JQQH6`R&7:Y`#'H<'/MFA:@=E50:G9-"LHG78TOD@X/+YQC\ZS]/LKBW MUR>3R6$#*1O=@>.-H!!Y''0CCUK)ET#47A:%8@$\WSU^<<2%\'O_`'1G\:`. MRID,$>`>#_>_QI\&GWZ3*UW:R MSY;*8F`\ML@[B<^GIGICO1UL'2YTD4J31B2,Y4]#C%(\T:2QQ,V'DSM'KCK7 M)6UG??:I8TMY#=Q%")#*`J#!)7.>XP./Z5:T73;Z#4(I9H&CA4D\E1@E,'@, M>_YT(&;=KJEE=SM#!.&D7/RE2,X.#C(Y_"KE6:W=&\HI),S@B5]V/3/2I*XZ72+X@F&SFAB M)7='N5F9@N-WWL=>^>^:T;*PNX[J9[NWDEA>+:$$H)W87<>H^]C].V:`.@HI M*6@`J">[@MW"2OM8C.,$U/65JEI/<7"O$FY0@&<@=S0!H03QW"%XFW*#C."* MJRZSI\3R))<@&/.[Y3CCJ`<8)'H.:=I<$EO;,DJ[6+DXR#V%9$]I?MI3:9'8 MY9"Q\]F7:022"O.=W/<>M`&O#JUC<8\J?<22H7:P.<$]",]`:?8W\%^C/!OP MI`.]"O49[_6J7]EO%J-MP[UHV]K#:@B%-H.,\ MD]!CO0!-1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110!3U2:YM[&6>T\K?&IM5(=7:'R8KY"T\H!!A0A.1D+RG7CH?QJ.#6A'"CW3QS&1B%-M&V%`&23N/85O_>; ML_F/QJ6ZU>.VE1B-]LUN9MRC+'YE`Q_WU5?_A&;7RP/.DW@\/L3 M@8QC&W'3OC.:N7&DV\ZHK-(H2+RAM(^[E3Z=?E%`$)UZT526CN`4SYJ^7DQ` M'!+8[?3--?Q%:(HW0W((R"296(/(QC'UJ6XT&VG&?,D5]V0V%;'RA2 M,$$=%'XU!0'0K3ZU:VT9:7>2K,AVKG++C./SJO M=>((TMV,$$K3*<,C)_J_F`^;G^52SZ#!<3O(\\X5F+B,%XF M2,C;)&A&V09S@@CCZC!Q3WT^V*QK'&L*QRB4"-0H+#UXH`HP>(+9XF!#R2H! MD1IP_."5YX&?7%2P:U:W6]HHY6$47FLY3A1CIGUZ_E5<^&;7#!99`-P*#:A" M\YQC;\W_``+/:KFGZ3;Z?%)%&TDBR`*WF$=!GT`]:.@=2&&_NX[?[7?1Q"V: M,2+Y62R$XPI_O$YZC%-?Q#:1MM:*YWK]]1'DQ\@<\^I'3/6G+H<1C,7$&*_NAD'C`Y.0.3GI0NA09D>2::267'F.2H+$,&SP/8#Z4=0Z#8_$-F[, M&2>-4.V1W3`C;G@\]>#4G]N6_D[_`";C?N51$4^<[ONG&>AQ59/#R->79FED M:UFD$GE9&&;DG/&>">,'TJU#H\495I)YI75T8.VW.$R%7@=.30#(O^$BT\,O M+C>H).W[IYPI]^*BF\0@HOV6UD9SDD2C;@;"P/?@T[_A&K/<"))0I&&'RY8\ MX.<9'7MZ"K4>D0QW$=+$KA2 M47MD],G^59,&H7=MIL&F7,LMD+:Z$5Q(K#;3_9W=663>F0>NT@%3[?I45SJMXD&-.U2YN4>*-II'/\`JI"P&`<WM#)>1Q')C0J82%^8MT[_6D^HT=9#-%<1++!(DL;='1@P/XBI*\]2^DM M_#VEP1W$T!:.5\I+Y:DACCG!)/M1=ZS?"*SG;4)#FW1C'')Y;;L\GD8?Z574 M1Z%17#W6JW<7B!2;N=T,L8$"/L9`0."A7#?4?G727C;]9MXI"PB2"24;>I88 M'Y@$_G2`U**Y"!HC+/:6_U]ZET29K M5S%:1Q:B3"K/+;G80>>&W-U[]C[4`=117-:U7'>H+6[=66)9YU5(QQ^\ M)!ZCMW_G45W+98DN;R43!I!!`K2!4EV+C+'IC<6/^-`'545P]Y,+3RY6O(YO MLT,)5_,.Z3YB3Y78^ASGI6L+:6!]%=Y9`SS$R1Y^7;H)Z]^E M"`WJ***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHJKJ<\MMIT\T$3RRJAV(BEB6[ M<"D]`0EIJ=G>W$\%M.));<[9%`(VG\>O3M5NN'TW2-2TN[M)+BW1X;E#!/Y& MYGPV3N?CC!/7VIT-AK+Q74;"97L('AMFY'FDD_,/7Y>/RIO0#MJ*\]BL[]M+ MNT@BNU1O*!C6%U^;<,D98G/7..*G\0Z=)#<&UL;*XV10@PNHDD);=DXP<`_7 M-`'=T5YYK)E"ZC+=1W3W.(O)F4MMC4XR&YX/L>]6;FVU(ZZ79;@2F5#!(D;- MA,=,[@H'KFA!T.SO;RWL+5[FZD$<*8W-@GVZ"GV\\=S!'/"X>.10RL.X-8/B M:WO=1NK.QM(%:-6\Z1I@PB..BD@?7BL>*RU%;>TTJYMIREO?#+PA]AB8'.&] M!S^="U!G=45Q/]G7?EQV@@NA;KJI``W\0XZYZ[?>E-M=V4"E8+K[/;:J6"A6 M)$7J!U(H7]?A_F']?G_D=K5<7MN;YK(2?Z0J>84VG[N<9STKA+J.]N&G$MA= MB.6XF>,R1R'&0-HV@CGW/%;'AV"\&KPS7,,Z_P#$N5&>5"/F#="3WH6H/0V; MW7M-T^X,%U.T<@QQY3GKTY`Q5VVN(KNW2>!BT;C*DJ5_0\UD^)8)ISIGDQ/) MLO8V;8I.T#/)]!6+K%O=/J-]OM[V2\9T^P2Q;MB+WY!P/?-"&=?!1( MK^6Y1\=F'44VZO;>T:%;B389W$3 M&-I<[`$9LXZ]`:DL-1M-2B:6SF$BJVUN""#[@\UC^(+*ZN];TLVS30[1+F>- M-PCXXSVYZ5ARV5_'8M%+;7!<79:\ M*UL)Q.S1L%R0<<]Z!';T5PT&BRKI>DDV]UY\UROVKEPP3+#G^Z,'VK?\-6\M MK#?0.DJ1)=N(1)G[G&,9[4P-JBBBD`4444`%%%%`!1110`4A`8$,`0>QJ*6Z M@@DCCFFC1Y3A%9@"Q]J#=6X$A,\6(CB0[Q\GU]*`):6HWGBC17DE1$8@!F8` M'/2CSX0[IYJ;T&YEW#*CU/I0`X*JDD*`3R<#K2A0N=H`RJ?]]"@!Y4 M'&0#@Y&>U(55B"5!(Z9'2F^=%_SU3_OH4>=%_P`]4_[Z%`#MJE@VT;AP#CFF M201RRQ2L/GB)*D'ID8-+YT7_`#U3_OH4>=%_SU3_`+Z%`#MJ_P!T=<].]*0# MU`-,\Z+_`)ZI_P!]"CSHO^>J?]]"@!^!G.!GUH``Z`#/-,\Z+_GJG_?0H\Z+ M_GJG_?0H`DI``!@`"F>=%_SU3_OH4>=%_P`]4_[Z%`#F56^\H/U%+3/.B_YZ MI_WT*/.B_P">J?\`?0H`)H4FBDC= M%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%'G1?\]4_[ MZ%`$E%1^=%_SU3_OH4>=%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/^^A0!)14 M?G1?\]4_[Z%'G1?\]4_[Z%`$E%1^=%_SU3_OH4>=%_SU3_OH4`245'YT7_/5 M/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%'G1?\]4_[Z%`$E%1^=%_SU3_OH4>= M%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%'G1?\]4_[ MZ%`$E%1^=%_SU3_OH4JR(YPKJQ]CF@!]%%%`!1110`4444`%%%17$R6UO)/* M<)&I9C["C8"6BN4T;Q0[VM]+J#I(T*"=%B(/R'^'CN#@<^M/A\2SPZK.FHVY M@M_W8'S`^42I/)'7.*`.HHKFF\2R1>9S,TLD;2LBS+A54\G=W^G7Z4`7[C1=-N;L74]I&\V0=QSSCID=#^-7ZR+ M37?MU_';VMJ[QM$LK2EP-BMGMW-5I+S4KN]OC:WD%I#92+'LF0%7[DLW4#Z4 M>0'0T5SDVOS6#CZT`=#17*7GB6ZN6FMM/MWAFC?!/#.%!Y^3!/IT!KIK9G>VB:52LA0%@>H M..:%JK@]'8EHHHH`****`"BBB@`HHHH`****`"BBH+PS"TE-NT:2A3M:7[H/ MJ:`)Z*Y>TU34IH8XTG64RW0CAN#&%$B`$L<>G&,U"VL:K%!=XN8K@(\<:S1Q M<"0MAD0?Q8'K0!UU%G4T`=315+2+H7>EV]QYWG%UR7*;"3],G%%.PKE MVBBBD,YSQ$K#5=/DCMWEDWA0#'OC?KP?0CKG\>U0>6CS_:1:3Q112J&A-L_, M8).XY'S'<0>,X%=3@'''2EH`Y:52+*T@E@E-G:9@A.]#MX!_BR!T]JZ\``D@#)ZGUI:`,_1U(MYF"-'').[QJRE3 MM)]#TSR?QK0HHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"JNI1V\MA*EVC20,`'5203S[$5:IKNL: M,\C!4499B<`#UH`PI1HTS[GL3GRS'\HV@J>H(!YJ);;0Q!+"UI,Z3;?,WNS% MMO3DMQCVK;L;V'4+;S[RV[)S[UN M_;+7R//^TP^3G'F;QMS]:='<02N4CFC=P,E58$X]:`,N"YTVVG,T%M(CF-8\ MCIM'08SBJ]W'HUY]=)10!@6QTJUNOM$,$XD&= MN6)"9Y.T%L#/M5[^V+?^Y+^0_P`:T:*`,[^V+?\`N2_D/\:/[8M_[DOY#_&M M&B@#._MBW_N2_D/\:/[8M_[DOY#_`!K1HH`SO[8M_P"Y+^0_QH_MBW_N2_D/ M\:T:*`,[^V+?^Y+^0_QH_MBW_N2_D/\`&M&B@#._MBW_`+DOY#_&C^V+?^Y+ M^0_QK1HH`SO[8M_[DOY#_&HKJ_LKRV>WGBE:*0891QD?4'-:U)0!SUO%H]L5 M,-O<*%5E`,C'`(P<9;CCTJ..TT.*!X8[2=8VQQYC'!!R",MP<^E;4^I0111N MF^NP2QQ-%;W3F7=M18QG"D`G MKTR:[_`.?W_P`A"C[/=_\`/[_Y"%`&$-!OE772+*2.X\EIF?.^/)^7`&,D#TJ_P#9[O\`Y_?_`"$*/L]W_P`_ MO_D(4`6Z*J?9[O\`Y_?_`"$*/L]W_P`_O_D(4`6Z*J?9[O\`Y_?_`"$*/L]W M_P`_O_D(4`6Z*J?9[O\`Y_?_`"$*/L]W_P`_O_D(4`6Z*J?9[O\`Y_?_`"$* M/L]W_P`_O_D(4`6Z*J?9[O\`Y_?_`"$*/L]W_P`_O_D(4`6Z*J?9[O\`Y_?_ M`"$*/L]W_P`_O_D(4`6Z*J?9[O\`Y_?_`"$*/L]W_P`_O_D(4`6Z*J?9[O\` MY_?_`"$*/L]W_P`_O_D(4`6Z9-$LT31OG:PP<$@_F*K_`&>[_P"?W_R$*/L] MW_S^_P#D(4`9T>AMIXMI+$B66%W)661@ Z=<8R/K5B.QNX=%:QB>,2>256 M7<1\YSGC'`&>*L_9[O\`Y_?_`"$*/L]W_P`_O_D(4`4-2T@S110P6EG*B0F% M#-D-$>,,#@_T/O3;W1I)-IM]BS)%DS=&DD``&3VZ9SZX]*T?L]W_`,_O_D(4 M?9[O_G]_\A"@`L(KF*S1+B3,@)ZG<0,G`SWP,#-%'V>[_P"?W_R$**=R>4MT M444B@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`*J:H\B:9-;/-:7,=S),CJ&*NTZC(R#NP,?B*J7 MEW>V+W$#2-)#9@7`;>=\BL<*A/H#G)[@"M:VN=,M(_+MMD29SM2,@9_*E:[T MYV=FV,778Q,9.Y?0\'=5NM8 MADN)8X8X5.P*N2V[`/YXQ44L^ES*PE6)PZA6W1$Y`Z#IVH`QTN+JYM&47-T)Q))%;0JP#L01AG([+ MT.>/J:DOI-0L;B1I[EBDRD9C8DA?ER0O\)'S#/0+=+O-Q&$_>>4`I&=H//./K6M<65M=2PRSPI(\+;HV89P:=-:6\Z.DT M$;K)C>&4'=CIFCH'4Q+B[DFT^S\N::!6BE-TSQ&!M^8#L1G/XUT3:99.Q+VT3#"@*R`@!(O* MNUV*#+#T/K1U`KZ2[F":-Y&D$4[QJ[G)(![GOZ?A5OS&_P">3_F/\:(88K>) M8H8UCC7HJC`%24`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-244`1^8W_/)_P`Q_C1Y MC?\`/)_S'^-244`1^8W_`#R?\Q_C1YC?\\G_`#'^-252NM3MK:01$M+,?^6< M0W-0!9\QO^>3_F/\:/,;_GD_YC_&L_\`MI`=C6ET)NT?E\FE-YJ3C$>F[<]& MDE&!]10!?\QO^>3_`)C_`!H\QO\`GD_YC_&J)BU>7AKBV@'K&A8_K2&RU$'< MNJ$OZ&$`?E0!?\QO^>3_`)C_`!H\QO\`GD_YC_&J']FW3\S:G.6_Z9@(*1M) MEC'F6U]<";KF1]RM]10!H>8W_/)_S'^-'F-_SR?\Q_C6>)M9"[C;6Q[;`Y#? M7/2E6PO+@E[R^E1NR6S;0/\`&@"[)<")"\JE%'=F4#^=0KJ=LT8D$B[3W+J/ MZU$FCP>8'N))KHK]T3/N`J;^S+$R^9]EBW?[O'Y=*`$.I6H&3+'C_KJG^-0? MV[8Y(\P\>U61IMD#G[)#_P!\"IO)BPH\I,+]WY1Q]*`**:[8R9VR$8&?F&/Y MU+9:G!?2%(1("!N^9<#%698(I@!+$C@=-R@XIXX&!0!@P7-T/%$T,]RXC8?N M8P`8V&#QD?=;@]?0U6O=;NK/3;L33PK>F9TC/`50J@G&>O7`]2:V8])M(]3> M_56\YATW':#SD@>IS_G-2OI]K)#/"\0*7!+2`D\DC!^G2@?4I:O=RI;VTD$T MB0R9+2PIO/W2(29C0%%,>[:.G\6>IYX[5T,FDV\P< M2F0@OO7:[+L&T*5&#T('3WH;1K!I&8P\,I&S<=HR,$@9P#@8S0+HA=*EE87, M,TK2FWF,8D8#+#`/.,#O5^H+2UBLX?+B#8)+$LQ9F)[DGK4]`!37=8T9Y&"H MHRS$X`'K3J2@#.76K62UCGA6642R-'&B)\SE>I/2 M@#J8IHIU+0R)(H.,HP(S4E5=-M?L6G6]OM0-'&JML'!(')JU38(****0!111 M0`4444`%%%%`!1110`4444`%%%%`!24M,FB6:)HWSM88."0?S%`%:?4H8HHW MC62YLK%;;3G4[ MV)F:29D)7).%X;'7&?ZU+>:;+:2K8/*'Y>F._Z4`22ZY; M11JSQ7`)#,R>7\T:J<,3[#/;-*VMV@EE3]X?+!((7AR-O"^_S+^=94OA^Y>$ M*8K=U(D"0F1E6W+'(*D#G'I@>U7+[1Y9BK0>6LRQY:8?*TD@P!GT]?KCTH`V M@<@'&/8T55L(KF*S1+B3,@)ZG<0,G`SWP,#-%.Q-WV+=%%%(H****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**9)(D0 MS(ZH/5CBJ#:[8J[J9&(7HP7(8^@-`&E166-1O95'D:;("1D&1@H%&-:'&ZT; M=WP?DH`TZH2:U8QRE#*2%ZLJEE'XBF'3+F<8O+^1U/WDC`4?3Z5I.*AFM[6]3$L<U5 MDT2P5LF(OZ!F)`H`2350\IAL(3=2#J5.$7_@5--MJ%[Q=2K;0]XX3EF^IJS+ M=6&F1!99H+9.RE@OZ5CWGC72+;B-Y+EO^F2 ME6K.Q@LDVPI@GJQY9OJ:YQ?'^FD'=:W0/;`4Y_6JQ\8:I?L5TC22P_O,"_\` M+`'YT`=K17%G4_&3?NAIT:LW1M@X_$MBC9XWF&UGCB!/7,?'Y9H`[2BN+_L+ MQ7)@OK*K["9_Z+1_PC7B4@DZZ^[T\^3%`':45Q?_``B.L39^T:[(<]?F=L_F M:0^!KF/,D.LOYHY!,97)^H:@#M:*XK_A'/$^,_VX<^GGR8_E2KX.U*X^:ZUV M0MTR-S_J6%`'9,RHNYV"CU)Q41O;4)O-S#M]?,&*Y/\`X0-6;==ZM+*!_P!, M\'\R337\&Z+&WSZA<8]%*D_H*`.G.LZ6#@ZE9@C_`*;K_C4?]OZ1G']I6W_? MP5SR^%M!'1KUQSW'^%3KX=\.`8,4Q]RS4`;'_"1:/S_Q,;?C_;J6PUG3M2E: M*SNEE=1N*@$''3/(]ZQD\+^')<;%.?>5A_.M;3=$TS3)VEL;<1RLFTG>S?+D M'N?84`8NJ3O%XSMC]J32Z?UW'U*6MWS2Z=I_EWDB))&SO(C;&+"+#S3>[$NA/X9E+V$L;/([0S,A+2^8 M.@/RM@$CGO6S5'27MVM"EM;"V6-RC1``;6'7IP:O4V)!3)5=HRL;^6QZ-C./ MPI]%(94^SW?_`#^_^0A1]GN_^?W_`,A"K=%`%3[/=_\`/[_Y"%'V>[_Y_?\` MR$*MT4`5/L]W_P`_O_D(4?9[O_G]_P#(0JW10!4^SW?_`#^_^0A1]GN_^?W_ M`,A"K=%`%3[/=_\`/[_Y"%'V>[_Y_?\`R$*MT4`5/L]W_P`_O_D(4?9[O_G] M_P#(0JW10!4^SW?_`#^_^0A1]GN_^?W_`,A"K=%`%3[/=_\`/[_Y"%'V>[_Y M_?\`R$*MT4`5/L]W_P`_O_D(4?9[O_G]_P#(0JW10!4^SW?_`#^_^0A1]GN_ M^?W_`,A"K=%`%3[/=_\`/[_Y"%'V>[_Y_?\`R$*MT4`5/L]W_P`_O_D(4?9[ MO_G]_P#(0JW10!4^SW?_`#^_^0A1]GN_^?W_`,A"K=%`%3[/=_\`/[_Y"%%6 MZ*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**@DN[>+[\J@CL M#DU$=3M1_&V/7::`+E%4)-7M$_C)^@_QK'O_`!1;M$R07,,7."_F`MCV`[T` M=/25Q4GB_$4<4,\D\@X_=1?,WUS_`$JI-XAU.XY?3[KRST.TD'\,`4`=\)$8 MX5U)]`:;<7$5K$99W"(/7O\`2N`#>(_+,XTR3RL_=V?/^77]*N6-SJ=\^V33 M[B*6,$1O+$SHI^AQS0!T,4NJW(-U`8DB<_)#*/X?7(YJ*=Y(W/\`:&MP6KGI M&K*H'YG)KGSX3U.]G:XO+N5I'/+=/YG],58A\"1`[I)&;U#/_@*`+<^H:';2 M>9J&J+?/CY`OS@#Z+D?G5?\`X3G2TS$EA+Y2?ZO"J.?IVJ[%X-T^,JVQ"1ZJ M6'ZFM!=%B6-8PR!%.541*`#Z@4`<\?'%W<@)8:0S3-TRQ?\`0`9H_M[Q6IVM MHRDMT(@?C]?YUU/V*7&#>2X]N*/L`;_67$[_`%>@#EC_`,)M=H>$@5_]Q2H_ M4C^=+%X$:=3+J.HR/SLCFWT1-W]Z1PQ_-L MXK?HH`S'@+L&DTFWBKN_ MG1Y-Z.EVK?6,"KE%`%/[+/]$&VC[+CJ#^M7**`*?V)W_P!? M=2O[+\HH_LZ'NTI'H7JY10!4_LVT_P">7_CQ_P`:#IMJ>D9!]F-6Z*`*@TVU M!R8RWU8U-'!#$/DC5?H*EHH`****`(I+:&7_`%D2,?7'-)#:P6[%HHPI(QG) M-344`8=]IUY/K]KY MZ=ZOT44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`&1JNHW-IJ-E!$(DAF;#/+D`]?E! MZ`_SHDU2Y\V:%8$CD\]88O,.0:1%C;+HIX<<_EUZ M^E2W&FQSM(XEDCD=UD#KCY648&,C^=`%275IS96SP11^=*CNRN3@!!\P'X]* M@;7Y0IF6&,PR%DA!)W;QC[WMD_I5I]%5T2(7,L<42;$V[=V""'R2.^1^7%#: M#;,7'F2B,@[$!&(R<99>,YX'6@"UI]Q)<0OYRJ)8I&C?9T)'V"<_F*UAHVE@8&FV>/^N"_X4[^R=-_Z!]I_P!^5_PH M`QQXKB6/,HC1O)V&/L>P#INNA_0FGFT\2SC8RV\?O).S#\A73>3% M_P`\D_[Y%'DQ?\\D_P"^10!RP\-ZPY_>ZC;@>BQDC^8J5?"4K8,NH@'N8X,' M\R372>3%_P`\D_[Y%'DQ?\\D_P"^10!A1^#=*SFX^T7)]993_3%:%KH6E6;! MX+&%6'(8KN(_$U=\F+_GDG_?(H\F+_GDG_?(H`2.V@AD:2*&-'?[S*@!;ZFI M:C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@"2BH_)B_Y MY)_WR*/)B_YY)_WR*`)**C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BC MR8O^>2?]\B@"2BH_)B_YY)_WR*/)B_YY)_WR*`)**C\F+_GDG_?(H\F+_GDG M_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@"2BH_)B_YY)_WR*/)B_YY)_WR*`)* M*C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@"2BH_)B_Y MY)_WR*/)B_YY)_WR*`)**C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BC MR8O^>2?]\B@"2BH_)B_YY)_WR*/)B_YY)_WR*`)**C\F+_GDG_?(I5C1#E45 M3[#%`#Z***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!*PD\1DP7,[VRK'%,L2,9@`2 M?[V?NXZUNUAV^BW<-W=77VR,S.ZE&:$'<`!][GKVR,>O?%'4"W1Q[=:`[&G8W1NX69H_+D M1RCIG."/?O5FJMA;-:PN))!))([2.P&!D^@YXJ/S=5_Y\K/_`,"V_P#C=`%Z MBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_ M`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V M_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E M9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y M\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J* MH^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\` MQNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_ M`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G M_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GR ML_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJC MYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#& MZ/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\` MXW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_ M`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S M_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/F MZK_SY6?_`(%M_P#&ZEMWO6D(N;>WC3'!CG9SGZ%!_.@"S1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`"5DR:Z(8[MIK8H;<*=N\$D,< M#/\`=/&<>E:U8LFA27$[/=7*R*WRMMCVEE^;&[GD@D<^U(82>(1$B"6W6.5G M"[9)U50"NX'<>/;'K6TIRH)&"1ZUC#1[H1/_`*9$97&QR8,J4V[>!G(/?KCG MI6M!$(((XE)*QJ%!/7@8JA$E%%%(`HHHH`:[;$9MI;`S@#)-9:ZUM5OM%L8I M$<*R[\X!4OG/J`#Q6I(&:-@C!7((5B,X/KBLFWT:14$=S<1RKMD!*1%&9G&" MQ)8Y.,_G2&-&N3EE7^SSDNBX\X9^;D=N>.3]#6U63::1)%=17,]R)7C[*FT' M"[1W/.,_G6M5""BBBD`4444`%17$K0P/(D32LHX1>K&I:@O(I9K62*";R)'& M%DV[MOOC(H`S7UTKY,:VFZXEE>+R_,&`RG!^;'(YIUOKJ3S1*L#"-RJ,Y8?* M[`D+COTZTP:+,!$PG@62W"^24A(48))R"Q)SGUHBT!8[NVE:5'6#!R8L.6&? MXL],G/?ZT`;5%%%`!1110`4444`07OUJU4`M_].-SOZQ"/ M;CWSG-3T!U"BBB@`HHHH`*HZA?O9,A^S-)%QOD!P%R0!CU//2KU4+ZRN+F[@ MFCN(ECAY$4D1<%O[W##D=NM`#'U8(R`6\C^9,T2E>1\N03GZ@@"I=-OC?)+N MB\IXGV,NX,,X!ZCOSR.QIG]FM]AMH!.5>%@Y<+U;!R?S.:=IMC):&9YI4DDF M8%MB;%X&,XR>3U-"!EZBBB@`HHHH`*IZC>264/F1V[38!9OFVA5`R235RJ.I MV4UZD213QQHK;G22(NLGH#AAQGF@"+^V$-U'"L$A$CJ@?'`)7=SZ=1Q_A3], MU1=1DF"+&%B8KD2AFX)'*CIT[T)IS;$\R4&07!G9E7`;K@8SQQC\J++3Y8+M MIYITD(3RTVQA/ESGG'!/TQ^M`&A1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!117E?_"8:[_S_`'_D%/\`XF@#U2BL.>^NAX:LKI)6 M%Q,L&YTC#$EL9PO3/-*-5GM$5)8Y;@B)IGDEVPE1G`!'3K0!MT5@1^)1(,K: M%E7F5A(,*-P7CCGJ/2JI\0W#K&$8@(SI*X`R6!X`'L".:`.IHK-TW53?S&-K M-(VA5(\[B!\^,\`4`=/17/2^(F MD2*:"%D@211.[$97()*@=^G6GV_B47+(D5FS.Q)(\P`!<9SD]\9XH`WJ*PK' M76U#4((HU$:Y8.%8.&^7(P:F>_F2SU"5G.8;C8A`'`^7_$T`:]%<]+XDD$#O M]B9$"[@_F`D`L4!QCU'3TI%\1/;P%KB$.S2;8\-C*A%))XZ\_K0!T5%82Z[Y MMW!(%\FP.\-*Y')`';MR:@OM3N+'4`YOC+;.JR1Q[%`;<3@;L9Q@=>M`'245 M@IXC>8K]GL'<$HF6D"_,V<#ITX/-7=*U0ZB6W6YA^19%RP;()([=.5-`&C11 M10`452UB>2VTR::%MLB[<'`/\0'>N?LM9U"6]@C>XRCR*K#8O()^E`'6T5@Z M]?WMK=JEJ\H`@:0K'"),D$8W9Z#Z4DOB9(I&C\@2D)D&.4'<<#MV'/&?RH6H M&_16%/K5UNA*VACC\\12/O5N1]Y?Z9]NU)#XFB='>2#:JY&4D#`G;N`SZG!_ M+O0!O45FVFJFYU&6S>#RGC7/S.,GIVZXYZC/X5AOXCO(K(%B&F2[P^`.8=V/ MZ@4`==16+/KY201Q6C2-L$G^L"X&S<>WI19ZT]Q*T<-O).=Y9N0I1,@#'KW_ M`"HZV#I-2JO-N4'+$[>/PQ2V.NMJ%_!%&HC7+;P&#AOER M,&@#=HKEK37+N*7?=-+)&_F!5:(("P;"A&'7WS5U_$#)*\363!H?]?B0?)R! MQQSU![4`;E%9.GZE->ZB1Y7EVS0;X\D$M\V,^WTJG;>(G02?:8&:.*5D>8,! MCEMOR_1:`.BHKG&\1RVTTHN;;!;:8H]XX7;DG..O3CUJ_;:N;N>6&&UGOF@#0HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`K#_X0_0O^?'_R,_\` M\56Y10!3FBL;:S@BG:.*WA*"/?)M`*_=Y)YZ4CV]CJ2M*"DP=?++QR9X!SP0 M>N:7581/I=TGE^8QB;:NW)S@XQ[UA3-=P7]O'#'=1PJJ!UB1L%2OS$!5QG/< MG.:!FQ_9.G6\4K.F%8?O'DE8Y&\;S85CFVC86CF)'7/.#UY MK-`U:?0[R*XB=Y&C(8.#O^[\NT`8/&,\].3#&(P2%^4 M-CWH>@C5M[&VMF5H8]I5-@.XGYI_6N M8\[6?LX_>W/E;OF;9)N#[>G3=C/MC/%:>HI?-Y,J+,)_L95GC4Y#%TST[]:` M+_\`8EAN0^2V$Q\OF-AB.A(SR>3R?6G1:-8Q](F8X*Y>1F.",8Y/3'%8LYU& M$S1>9?G87%J44L7;=QN)&",>O&,^E1G^TIV M<@4=+CZF_;:39VLPFB1S*.CO*S'ICN?3BH;NTTJ&5VNIA$9VW,CW3(KGCG;N MQZ=JR;LZK#!L22Z\OS,ER&+9,:D#Y1G&XM[9XJ]/9W5W?V+N0C+:MYCO"'7= ME>.>`>M'470NG2;"2'R_)S&R!>';E0VX=_7FFS:3IZQDNK1+D$L)F7'`7KGC M(P#ZUDW\VI>9+;P?:PRRORD;8"';MP<8]:AO([TB6VF-\\2N1!A6;>=X^\0. M1CU]Z$!T$.EV<%R+B*,JZYV@.VU-F+#AB0=O3KQQWIVI6=S="W:50DIE\J0VY+9A;J"2!CI^%"`LR:/ MIUW+]I>/S=YWC$C%,D,?W/:M#1X]1N(;A[J2Y63R0D:R949(/.#WZWD62=20P$I8(3U^7.`3BD.BZ<22;8'(`/S'H&W>OKS66C M8L%6QL)XKF&W"22"(J4Y7


]0$:E*\AAFO_`"$QY#88,P+J.W-%M;!YFW#HMA"25B2TT09W#*X. M#YG)&0.GMZ4>8/L7X_#]FMS*[J6B;&V+>VT8!'(SSU/TJ>WTNQLI5F56$@Z/ M)*S'ICN?2N>\W6Q(@+7(8)A!L8EA@Y)XQGIR>>F.M3&QN;B:&"[-W)$<#=(K M,`6B.<^V[\!0'74V$T?36WA4+CD;3,[!-W)P"?E/TQ3TT>R5&4Q,Q<8=FD8E MN<\G/J*73]/^Q23-YH?S.@VXQRQYYY^]^E7J`*EKIMK:3O-"C*[#;R[$`9S@ M`G`&?2F+I%@H8"W&'?S&!8G+<\]?HH`S1H5@%("2@D_?\Y]V,8QG.<8XQ M4L>E6<3EXHBCD$%DD8'!QQD'V&/3'%7:*`$I:**`"H)[2"X
GRAPHIC 13 tf1_a0415x31x1.jpg begin 644 tf1_a0415x31x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M0P*]`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`*S];U$Z5IDERJ"1P0J*>A8G`S6A5/5=/BU2PDM)6* MA\$,O52.0:&-&7->:[I]MO/^-/TS7+;5)"EO'<* M-NY7>/"L/8_XUGQ^%W&K_;FO$&&9@8X0CMGLV.#^7-/T?PVVG:F;QKE&.TKM MBB\L/GNP!Q^0%"\P?D2^)-9N-+2&.RB2:YDW-M<$@(HRQX(K0CU"!]*74,XA M,7FGV&,U1O/#MMJ.J/=W[&>/RPD<0W)L]3D'G-)#H;6V@W6F)<>8C[_)RN-@ M/(!Y.>>]'0?5$T6K2&\@MY[,Q>=P,R`G.W)^7KM[9]:1-:5Y;1/L\G^E.RJW M\(4;L'..I"YQ44VF7=]LEDN%B(_>(&B_>1MMQMW`_=!.>GXUW6@15GUPI-/'%:-+Y.YF(<#Y%QD].N21CVIT&MQW.IFTA6,@$? M,TRACE0V0G4]:8VBRB)!%=*DC1/%,QCW;@QW$CD8.<^O6I/[)D,T2FX0VL,B MRH@BPX(&`-P/3\,^]"\P9>NYI((=T,#3R%@JHIQU[D]A[U0&M%H4*6CO,7D1 MHD;)!3K@]^<#\:+K0T:+%E/);2Y^^TDC\=QC<.OK1'I=S&AV7,,3K!Y,+10$ M+'DY)VECD\#OVH`CEUYH5=);4).DHC93,`@)7=R^/3VZU.NL(T<?RJN-$F$$*^=;,\+EP&MR5^7Q#&D%DXBC#7<9D`EG6,*..,GJ>:T;>[\VYFMW39)$%;& M<[E(X/Y@C\*HG2+A+"&TANXPJP&!R\`;<#W'.0?;)%36-FT.H2RD$1I#';QY M/+!9F9IW"F4$] MPV.*.H="-/$T),:-;LLQF>*2/=_JP@RS?3%5H/&-O,LI-L5VQ-+&!*K%@O4$ M#[I]C6A:^'K*VO7N\R22O%Y3>8001@`G@=2!S4$/A>UBBEB^TW31/&8E0N,( MI]..3])IH+&*ZETTQK*"R"2Y105P#G/J<]*5O%"LJM:V,LX6W%Q+\X M7RU_'J:LWGAZWNS;'SYXC;Q>2"A&67&.P!^\?85H:WJHL=">]A8;G4"$ MGN6Z'G\_PJHOA>$PVVZYFAF2%(I6A8`.!]1Q]16C?:1;7_V47&]H[9MPB)!5 MSC'S9'-#!&7H^O2'1;V6]=;BYL2WF&,C#CJ",9^LKXPB,*#'Y2L&);&]/B\,VL;HYN+EV6X6XRS+RX&/[O2M#4]/BU2Q>TG9UC<@DH0#P<]P?2C^OR M!;F4VKW.G.]H5EU2>*/SYG&R+8GI@=342^(KB75@(+9I++[)YXPRAC[\GU^7 M'XU?U#08;VX,ZW%Q;R/'Y4AA8#S$]#D5%=>&+.X9-LD\*+!]G*1L,,G;.1Z\ MT?U_7X`OZ_K[S,O/%4T^FW1M4%M<0-&=RR)*I#''7IFM'Q3?W-A:6C6T[0F6 MX5'98PYVD'.`0::/"=H8I$DNKI_-5%8Y4<*)/*MK^2:S='LO+#IO!R6[9'I1<>(WBN;V./3WDBLE MW2R^8`!\N1Q^E)/X5M[@R^9>WF)U3S@&7]X5Z$\5=;1;9EU!2\N+\`2\CC`Q MQQ_/-`$.EZX;^]%M+9O;L\`N(RSAMR$X[=*V*S[;2;>VNX;E'D+Q6PME!(P5 M!SD\=:T*;`****0!1110`4444`%%%9VNWD]AIDEQ;(&=>Y4L%'J0*`-&BL27 M5[JW2WFD2VDAD3)\IRQ?Y2Q9?]D8[^M/359ULKEYXX_.B"%0A.T[\;?U/-`& MQ17/3Z]ZY_K28E_OI_WP?\:`)**CQ+_?3_`+X/^-&)?[Z?]\'_`!H` MDHJ/$O\`?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_O@_P"-&)?[Z?\`?!_QH`DH MJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/\`O@_XT8E_OI_WP?\`&@"2BH\2 M_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_`(T8E_OI_P!\'_&@"2BH\2_W MT_[X/^-&)?[Z?]\'_&@"2BH\2_WT_P"^#_C1B7^^G_?!_P`:`)**CQ+_`'T_ M[X/^-&)?[Z?]\'_&@"2BH\2_WT_[X/\`C1B7^^G_`'P?\:`)**CQ+_?3_O@_ MXT8E_OI_WP?\:`)**CQ+_?3_`+X/^-&)?[Z?]\'_`!H`DHJ/$O\`?3_O@_XT M8E_OI_WP?\:`)**CQ+_?3_O@_P"-&)?[Z?\`?!_QH`DHJ/$O]]/^^#_C1B7^ M^G_?!_QH`DHJ/$O]]/\`O@_XT8E_OI_WP?\`&@"2BH\2_P!]/^^#_C1B7^^G M_?!_QH`DHJ/$O]]/^^#_`(T8E_OI_P!\'_&@"2BH\2_WT_[X/^-&)?[Z?]\' M_&@"2BH\2_WT_P"^#_C1B7^^G_?!_P`:`)**C`DR,NF/]T_XU)0`4444`%%% M%`!1110`5GOK>FI>&T:[C$X.TKSC/IGIGVJ_7,V]GJ-K&^GC3HIT:X:7[3(R ME=I.XBNK=)X'WQ2#*MCJ*EKB&T?5Q]A5;1U>WCB`=)1Q@_,#EL M#\!S4D6D:JD]_MAFQ,D@WM,`Q)/`#`_-^*C'2FQ([.JT%];7%S/;PS*\T!`D M4?PYK*\.VU[8:;RK"YFW"Y"'## M<=V6).#@^E'4.AUE%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`E4 MHM7T^:XE@BNHVDB!+J.P'7ZX]JNUR4UEJ<\]V[Z880R-#;"-XPL:L?F8@')) MZT#-Z'7--GG2".[0R.H95((X(SW[X[=:(M;TZ:">:*Z1HX!F0@'@>N,<_A61 M-87LFK*HTT+909\DJR`,^W&]QG)^E4=.T;4D*PRVTBQ.88Y3*ZL0%8L=N#PG M&,>]"U$=6=0M!+-'YZ[X$\R4?W%]326&I6>I([VU"!FS M1110`53U2R_M"R>W$KQ,1\KJ>AQCGU'/2KE%`&5#H<4+@K=7!7R_*9&V$,O? M^'(R3DX(H310J21-,>F344/B*Z:$^9;HCNJ-%E6YW'&,M<])? MZC>6US$(?LKBY6-'>94XRN5R,G.,\@&@#1_L^X_Y_P"7]?\`&C^S[C_G_E_7 M_&HK*??I-PLD[V[Q.\3RO)YFT@]0Q`R/PK/2:54N+>YNKI##.`D*2;Y)`4RJ MAQSUR?;OQ0!J_P!GW'_/_+^O^-6+2WD@W^9<--NQC=V_6L*X_M>Q6WN)[@,W MEA"N\D;MK9RH&#CAB?136SI-U'F:#>6HM?M1N(OL_7S=XV_G0!/15<7UH98XQH]:6VO+:[ M#&UN89PO#>6X;'UQ0!/1110`UV"(SL<*HR35,7U@)3(&42,`I;8.*&?:C,OFE<(2IP<'/K0`TWU@T@D+*74$!BAR`>HSCVJN%T01R1 MB"W"2'+*(>">W:IY-6MXQ.'$@DAD$9BQ\S$_=P.^?\:L+=VS1O(+B(I&<.V\ M84^Y[4`5()M*MR#`D,1`(&R+;@'KT%3_`-I6G_/;_P`=/^%2B[MCY>+B(^9] MS#CYOIZU-0!4_M*T_P">W_CI_P`*/[2M/^>W_CI_PJW10!4_M*T_Y[?^.G_" MC^TK3_GM_P".G_"K=%`%3^TK3_GM_P".G_"C^TK3_GM_XZ?\*MT4`5/[2M/^ M>W_CI_PH_M*T_P">W_CI_P`*MT4`5/[2M/\`GM_XZ?\`"C^TK3_GM_XZ?\*M MT4`5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PJW10!4_M*T_Y[?\`CI_PH_M*T_Y[ M?^.G_"K=%`%3^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"K=%`%3^TK3_`)[?^.G_ M``J.>\T^XB:*WDF)+B-Q&509.XD`#Z\B@"NLNDI M&J+'"$52@`BX"GJ.G0U%LT/REB-M;&-22%,&0">_2KPO%%FUS)%-$J@DJZ?- MQ["JW]M0;/\`4W'G>9Y?D;/WF<;NF<=.>M`"K<:8@C5!&JQ`A%6,@*#UP,5- MI_V-8FCL5544Y(52.3_^JJZZ[9-(BAFV.@?S",*."V#WSA3V[5?@E\Z!)0C( M'4,%<8(^M`$E%%%`!11534K^/3;1KB1'<#@*G4F@"W15)=4MVEAB.])98C+L M9<%5']X=O_K4D6IQ26+7C1311*`PWI@L#TP*`+U%9;Z[:1HK2+*HY\S*_P"J MPM+)<0Q'$DT:'_:8"@"6BJQO[03K#]HC\QN@S M5F@`HHHH`**K7-_:VJL99D!7^$'+?E51+G5+D>9!;0Q1G[OGD[L>I`H`U*AF MNK>`$RS1ICU85R>KZU;67$]R.##:';&GL2:S%N]1U-?+TC11$K<>

"HK5[:[N[B0W<4@E81D;20<@)KV[M-1TYDN3!:[B9& M10YSSU7J1C/^<4=4'1BW=DD5S?,8KF.%Y89&>%2S9!))[YP<=.E.GGF;3+1; MCSOM2/YR$P%_E5L`NHQV89QSWQQ4$]]K)EU2&(K]H1X5A6/:0BMG/WN"<>M3 MM>7L_AJ*XLG>6^=@GF,B*P^?##'W>V*709G6UI=QP-#+!,9YYDF1EC(P@))' MHI]B?XJVO#_FHDD0-PUK&B+']H3:P;'S#H.!Q^M<^OB"_$\,BW4DL2*!)OB4 M#<=^5;`X.5`&.*VO#-]=W7GQW<_GE4BE5MH&-ZY(X["J743-ZBBBD`E8,>B3 M&^64"&R"%]TMH(N?O9.-I_#YOSK)A\/7T4!"F'_-; M_P!GN_\`G]_\A"C[/=_\_O\`Y"%`&9I&B36=VDUSY+!%DP`Q8@LX8 MJI]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJGV>[_P"?W_R$*/L]W_S^_P#D(4`6 MZ*J?9[O_`)_?_(0H^SW?_/[_`.0A0!;HJI]GN_\`G]_\A"C[/=_\_O\`Y"%` M%NBJGV>[_P"?W_R$*/L]W_S^_P#D(4`6Z*J?9[O_`)_?_(0H^SW?_/[_`.0A M0!;HJI]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJGV>[_P"?W_R$*/L]W_S^_P#D M(4`6Z*J?9[O_`)_?_(0H^SW?_/[_`.0A0!:8!E(/0C%8K:!%!#/Y$4=PTDH? MR[AW*%>/EZGGCJ0:T/L]W_S^_P#D(4?9[O\`Y_?_`"$*`*MC9WME8R10K;HS ML[HNXE(B3PH&!D=>>,>E5(-)O+>X%W#'`C+*7%MYI*@%=I.['4GGI6K]GN_^ M?W_R$*/L]W_S^_\`D(4`9S:%_H=K!MB,J*1+-CGN<#VR?RSZU=T>"[@M66]< MLY;(RY<@8&>3[Y/XU)]GN_\`G]_\A"I8(YDW>=/YN>GR!<4`34444`%9VO6L MUYI4T,$<J5F^8GRANR,< M?-QQVYK4TJTN(/-DNO+$CA%VQL2`%7&"\:97/IF@"XZQQH7=V50,DF0@#]:K"^T\AB+M?EZ_O3_CS6?? MW0FA:YU#?::;$02KC#RGL,>G^?ID7GB_13$3;Z:\DR_ZO?&JKGWP([>,'S-6=FYS';(6Q[!B0/QS4(TWQ3KL+2W% MR+2&7CR68H"O^Z!T^M=!IOA;2[&"-6MH[B51\TDJ[MQ^AX%`''$:KX@GEFTV M.A/M4\6D>);A3(ELD('`5MH)_[ZR:]#5510J*%4<``8`IU` M'FMQH_B""TEO[A1&D/+0APK2Z?J">;IET43[CCT`S67>^,+#3)?L6G6IN?+.#L? M:OX'!S6;J7BRYUJWCT[3;:2&XG;8_P`V3CT!_G0!H:GJ^AZ/&PM52ZO$.%"L M3AO4M_A5"P\-ZSJD7]H76HRVLTK9"MNSM]>HQ["M[1?"EAIL43S1+<7:_,9& MY`/L.G'KUK?H`Y[1/"=II@:2X(NKACGS&&-OT&?UK=\I?5_^^S_C4E%`$8B4 M$'+\?[9_QJGJ&CV>I3V\US%N>`Y'.,CT/MGFM"B@"C'],26*1;4`Q` M!1N.#CH2,\GD\GUJ?3]-M--1TM(M@QZM- M;M=L(Y6@4;!M\M6=@<>YP!GWKHG8(C.QPJC)-4);G3)M_FB-_,4*^Z(G%/7`^Z#[GCWK4TN^N+Z:X9TB2"-MB@9W$X!Y[=ZC M9=$=(T:WMV6/.Q3#D#/7M4\5YI\((B*1@G)"QD9/3T]J`+]%5/[2M/\`GM_X MZ?\`"C^TK3_GM_XZ?\*`+=%5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PH`MT54_M M*T_Y[?\`CI_PH_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/\`GM_XZ?\` M"@"W153^TK3_`)[?^.G_``H_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/ M^>W_`(Z?\*`+=%5/[2M/^>W_`(Z?\*/[2M/^>W_CI_PH`MT54_M*T_Y[?^.G M_"C^TK3_`)[?^.G_``H`M,2%)`R0.GK6!_;=XL%T9+.2-EF,4;8#A#@?>"Y/ M')_2M7^TK3_GM_XZ?\*/[2M/^>W_`(Z?\*`,VRNYIO"C2I<9N!&R^=*=GS9( M!)/X5"AG:.:R:>9;J)P=@N\^;E<@!R`1CJ1CM6D9]+*A2D6T*5`\K@`]1TZ& MHL:+]F^S^3!Y.[=L\GC/KTZT,#+^U:BMM:7XN2RO$J8)(R^U@V5'!YPV?136 M[I-U'%DMX M#M(/_+4]\'VJ42:O-RD%O;J>GF,68?E0!IU7FO;6!MLMQ&C>A89_*J?]F7,@ M)GU*?<>HC^5?RJ-FT'3B8IIK19!]X2N&;\3;IUE=,[S[`T MK75[I[*;XI-;MP98UP4/N/2N>N]?U+6M2^P^'#Y<,8^:4J!GWY'`].],BU;5 M]!U.*V\02">TG7!?`8`>N<^?6K$44<$>R)$C0?PJ``*CDN[ M>+[\J@^@.30!/150:E:'_EM_XZ?\*&U&V!PK%SZ*I-`%NBJ?]HP`_O!)'_O( M:#J,+'$(DF;T130!@K2%O")S.(8Q*1@R;1NQZ9J#S[P!9-GW<4`7**I_Z?)WBA'_?1H^RW+O\`\!4"@"Y15/[+<#I> MOCW4&@QWT?W)HY1Z.N/Y4`7*K7-_:6DL4=Q.D;S'"!CU-)')=M(!);JJ]VWY M_*L7Q,KK?V4D,$DDV=J_)OC?@_*P['W]SZ4=0Z,W9;RVA$AEGC01`%]S`;<] M,_6AKNV2U^TM/&(,9\S<-I'UK&N(OL%S?S16+REWB:/$;.-_S98X!/'M]*<\ M\5CI=O!%;SW4YS)&&MW&&W[0O;31S*IP2C`@&N:F@VQ6\-I;W$DJL)#OMRBSYSDDD`K@DX!QU'6KWAJ M*2,3[O.9=D2AY8RAR%P5Q@<#U]^IH[@;M%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M4<\\5M"TT\BQQKU9C@"@"2BF++&P0K(I#C*X/WAZCUI$GADC,B2HR+G+*P(& M.O-`$E%0BYMR(R)XB)?]6=X^?Z>M/BECF7=%(DBYQE6!&:`'T444`%%1R31Q M?ZR15^II%N(7!*RH0.OS"@"6BH&O+9.LZ?@()4(/RD]PO\`7;4T M5AJY3Y[B8G&1F7:/YDT`=%25R\DWB5`473F<#H1=)R/KUK/6ZUS59?).DRY3 M@F=RJC\P,T`=?-J%G`#YES$".H#9/Y"BVU"VN8#,D@5`=IW\8-<=+9>)8GS' MIEMCMM8''_CPJG::U]GGGCUKS%D@;!BC7ESGIGM]?2@#MY]7MH@2"7]^@_6J MAU]`WW$8?[+'CZG&*P!XJU>6,S6>B)]A7[P\MF!'?D8'Z4V7QQ;O`8/[)VQL M-L@$@&/I\M`'8QWHWB.>-H6/3)RI_&DO-1AM'6-EDDD89"1KDXK/@34)+&** M,6MQ;L@,V1]*M6NDQHF;D^;(>I&0*`('U"YO'\N'%D@^_)-C=]`*A: M*-R(KG4Y9[<DJJ!^6 M>6^I/6H]7LFUFQ:VGL2.Z/Y@RC>HK:HH`Y&ST#58+=+(WMT+<'(VR*BCVR,M MCV%7[/P^?M#2WWE/@`(0Q=SCIEFY_#]:WZ*`*?\`9MMW5C_P(TO]G6F,>2/^ M^C_C5NB@"G_9MK_SS./3<:FCM8(ON1*#ZXYJ:B@!"`>H!^M(JJHPJ@#V%.HH M`2@#'2EHH`****`"BBB@`HHHH`****`"DP#U'2EHH`*3:-V[`W8QG'.*6B@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"L?Q0@?1925E.WY@8QG:<'DCT]?K6Q M2$`C!Y%`(Y_[)-+#:3);F*%4JJ8D;+$8 MBI8(%$F!C\/>NGHP-V[`SC&:`..O+6>6*[\JUF(N586@$9&T[\YZ?+GKSCI6 MWH*8\]UA>&)A&%5T*?,%`;@_E^%:]%"T!ZG+>(?$*Z?=R0?:1E);8":?3BT;?PQ#)'_?))'XU''=ZO>$1Z?IDX8]7E)8#\2`! M^->CT4`<&OAKQ)>9>XO([9JD:_P"[N/\`A7&02W[F^D'0.Y5/RQ_6NBAB^SQB."WAB0=%0X'Y`5/10!'F7^XG_`'V? M\*,R_P!Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/^^S_`(5)10!'F7^XG_?9_P`* MR[KP_97>I"_GM(WF&,@R':V.A(QS6Q10!&#*!@1H`/\`:/\`A5#7-/?5-)N+ M4QQ[F7*'?T8PD`\VT;`#$@[3^'8Y'Y5TDT_P!GB:6< MPQQKU9Y,`?CBN1UW3=0T75Y-U`%[Q/XD6YM_P"S-+99Y;CY6>([A@_PCCDFG67@.!/+>\D: M5@`7C5]JD_7&<5O:9X>TW2I?-M+?$N,;V8L9?[B?]]G_ M``HS+_<3_OL_X5)10!'F7^XG_?9_PHS+_<3_`+[/^%244`1YE_N)_P!]G_"C M,O\`<3_OL_X5)10!'F7^XG_?9_PHS+_<3_OL_P"%244`1YE_N)_WV?\`"C,O M]Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/\`OL_X5)10!'F7^XG_`'V?\*,R_P!Q M/^^S_A4E%`$>9?[B?]]G_"C,O]Q/^^S_`(5)10!'F7^XG_?9_P`*,R_W$_[[ M/^%244`1YE_N)_WV?\*,R_W$_P"^S_A4E%`$8,F1E$Q_O'_"I***`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`2H;:SMK0,+6WBA#G+>6@7)]\5/10`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44F1G&1 MD]J6@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`Y75'B MB\51ONWRF(J!\P:/@8(Q]X=>/K26LT<6C7EO#-!)L5"9821O7C><$DY`/)]^ MU=08T,@D*C>H(#8Y`/7^0H\J/S!)L&X`@'V/)_E0M@.,NY-L-P()&VH&.G[& MZMYG\'K_`(5N^'3&5G%LVZW_`'9!!R-Q4;OZ9]ZV-HXX''3VH``Z#%"T!BT5 M4GTS3[B5I9[&VED;J[Q*Q/XD4S^Q=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_ M`'X7_"C^Q=*_Z!EG_P!^%_PH`O451_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX M7_"@"]15'^Q=*_Z!EG_WX7_"C^Q=*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^% M_P`*/[%TK_H&6?\`WX7_``H`O451_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7 M_"@"]15'^Q=*_P"@99_]^%_PH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A M?\*/[%TK_H&6?_?A?\*`+U%4?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\` M"@"]15'^Q=*_Z!EG_P!^%_PH_L72O^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX M7_"C^Q=*_P"@99_]^%_PH`O451_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O M451_L72O^@99_P#?A?\`"C^Q=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7 M_"C^Q=*_Z!EG_P!^%_PH`O451_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@ M"]15'^Q=*_Z!EG_WX7_"C^Q=*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`* M/[%TK_H&6?\`WX7_``H`O451_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@" M]15'^Q=*_P"@99_]^%_PH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/ M[%TK_H&6?_?A?\*`+U%4?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"] M15'^Q=*_Z!EG_P!^%_PH_L72O^@99_\`?A?\*`+U%4H](TV.19(]/M$=2"K+ M"H((Z$'%7:`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`.7OYDCU6?[+)F66-XG&X[U1CZU!&2?YGI6E2 M````#`'84M`!1110`4444`36YU*\^R7"BX"M$X:7YY'?"@!?[J_S_`!JM M;K"MC,H02LL`\U"3@3[RJY]#_3%=@0#U&:``,X'7K0!#9VRVEI%;H21&H7)/ M)]ZGHHH`****`"BBB@".4V M)@%O1BQ4XKK:3`SG'/K2&<5.\2VQ:"1'M0/E5I2JF4QY)!_O`\X]2>]=A:^8 M;2'S<^9L7=GUQS4FU<8P,9STIU4(****0!1110`54U1X(]-G>Z=D@"_.5.#C MT_'I5NB@#E(HUN;*18;A1'%!+*!!(&$>X\(#ST`8?B<5J*C?VAIDAE<@P,-F M?E'`Y^M:V!G..?6EH`****`"BBB@`HHHH`S==EM8=.+7A_=[P`F_:';LI/IZ MUC^49+%G6[,BVRPQAXGRKG=N(SW'*_E754@`&<#KUH0&'"\0\3GR)-Q97$JY M.\$;<;@?X?3ZUNTF!DG`R>]+1T`****`"BBB@#-UV6UATXM>']WO`";]H=NR MD^GK6;!$9M.N]MWO$-JL0FA<')P68`^G*C\*Z2D``S@=>M(=SF])95U@8DAG MDE!W`!A)"`JXSDXP?IWZFNEI,#.<#/K2U3)04444AA1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`95[XDTFPNGMKJ[\N9,;E\MSC(R.0,=#5 MJ+4[.;3O[0CFS:X+>9M(X!(/&,]C7%^)_#>K7^OW-S:VGF0OLVMYB#.$`/!. M>HK>T_3+R'P7_9\D6VZ\N1=FX=2Q(YSCH:!FS9WL%ZC/;LS*IPZ7*S6P5I;E8O,<^;+CYMORC(QWK)MM%OI-RS6SK#M9E4L%&_9@2^MHT+/*`%?RSP?O>E3HP=%=3E6&17)2Z/JADWM$9=S;AF1O.3 MWZ\5?TK3+JVNX9Y8V5RSB5O,!^7:-HZ^H-"!FPU[;*K,TH`640G@\.<8'ZBG MK<1-;F<-^Z`+%B".!UK#GTBY>2693+N-\DHC$@V%`5RV/P/OQ65-!.LJVDT9 M>\9E"8E&44ALKC.>>O3'J>*70?4["2ZABM?M+OB'`;?@]#T--%Y;FZ-L),S` M9*@'CC/7ITJCI.FFUBG@DBQ!)&@*%L@G;AN]9TND7Z:7;Q6RNLP$AE/F#))P M!SGG@8IO02U.C\Z/[1Y&[][MW[?;.,U5GU>QMX(YY9B(I,[6",3P.!7,+IFJ/)<%('A>7&V M3>`$3V%O$I,2!HLPKC?'AAN._//0]J`-:UN8KN$2 MP,60G`)4K^AJ:N9O]&NF>XDC,TWS1@,S!F=`/F&,@=<<'&<5%9Z9JD=_:R3& M4A-F&+*=B#.5)S^@!SZ\4`=71110`56N[ZVLMGVF39OSM^4G./I]:LUB^(;& MYO?L_P!FCW[-V[Y@,9QZ_2@"_:ZE:7DACMY=[@;B-I''XCWI%U2R:]-H)QYX M;;M*D#.,XSC&:R]`TV[L[UY+B+8AC*@[@>1N_>[=^WVSC->-(/.9L1X!S@]_:I:Y==.OA#(AM9&N2!^_P#.`!7Y<+C/.,'TZ>]5;>SN MY[(/;VDAC?B;

2&`W#.!QR1U]J&"V.JEOK:%9VDE"BW`,G!^4'I19WM MO>QL]M)O"G#<$$'W!YK`MM+U`:-?0RPMYTL:*@WKDX]\X%,.FWF^1Y+6ZF@9 MB?+EE0REMF`Q(;&`>G/'6@$=55=KRW6&:8R`1PDB1L'Y2.M8N%XZ]\'\ZNQ6$W]@7]O%:M"TS.8H69\A6(FW=XRH-S&L@S*0YXZ\\$?EBFV&E:C!>VK-'(B(5P`RD1J"= MRDY[Y[`YS[4`=)XYQVK=H`****`(9[F&WV^<^W=TX)H@N8;C=Y+[MO7@BJFJVT MUQY7DINVYSR!Z4:5;36_F^O>J4T-Y&+VUBL1,+B4R+*Q78`0,YYSD8XX]*8N MC3):V;L\LUS&85(IY%)_;]J"PDBN(]AVR%X\!&[*?< M^W'(ITVB6TP.YY1EWD!!'#-CV[8&*C;0(Y"_G7=S()3NE#%?G8=#TXQZ#C@4 M`.@U^TF<*8[B('JTD>`/EW#/U4$U-9ZK!?0326^[,0R5<8/(R#^--_L6U/#- M(P)&02.<1E/3T/YT[3]*BL(98TD=_,`!)"C``P.@`_&A];`NA0TO76GC5[J6 M!M\9<+`C`K@9(.3Z>E3C7[$N6,(Q\H]^14T^D12VEO;K--&($\M M77;N*E=I!R,O?13.\1B*3-&%88 M(`]?>KM5K&T%G$Z^;)*SN79WQDD_0`59H`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`$``)(`R>II:**`"BBB@`I``!@``>U+10`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4UV5$+NP55&22<`"G5B^+HII M=`G6%6?!5G5>I4'FAC1>@U73[A)'AO;=UB&7(D&%'J?;WJTCK(BNC!D89#*< M@CUKC[^[T:[M;S^S+;=(EDV9HDVJ@_NGIS^%9JZO<126HANYX_*\A#&TH"[2 MHSA,+KS1/>S3[Y)%'EL2$X.,Q%%=2N9M M6-O/=2W6Z,L7$NY,@]2I`*4+4'H=5=WUI8J&N[B*$-P-[`9^E2Q2QS1K)$ZR M1L,JRG(/XUS6I2VMGXJ^T:LJ_97M=D+R)N4-GD=.M:>C26_]BF73[22WA.YD MC?O[CGH:5]+CZV-6BN/=H%MK&=)@UX1%*ZLQ#MN;)\OL223GK5NZ1I=,6^$T MB>=>))M4X#J9%5<]_N@?G3MJ(Z6BN9O#%-J?GWC!;)YVA8LV%.Q#C)_WBWX@ M525RHMKB>:*:9(HA';3*WF."QP5.1S@CL>G.*%J#.SHK(U.]D2VG%U9SQ6H! M#SK,@POJ.<_UK,M&MYD6.&>)+>:;SC%%*'\A$7/)!(!+;2:`.JHKB]]K):3/ M8W$:0.T4>QILY`;F27!R`>GKZXJ]H^Z[:&V63Y;8S.)(SE022J%,]L%L9STH M`Z:BN3\M6TN"*>]2)%O9LO#R.>_3L:M5PMYIVL7L]UK$=LBLLP>))`PFVIP`%QT/ZT M=0Z'=T5QEG9ZG+?"V$4\5I"7NH6D!'S,HVH<_P!TD\50LK34A!=`17:S&UD$ MR^4_SOVR2QRWIM%`'H5%<-J6F-;V5C;Q65P_F1%Y'(DD_>E1QM!&#QWX%5[@ M7`A4ZA#>2,FG_N0NX&%QG)89R/J>U#T!:GH-1SS1V\#S3,$CC4LS'L!7`7%O MJ$L5D[+V^H6RW-I()(FSAL$=/8U8KC;>TU*PLM8T^2V.)8C-";96*!CP5 M4XZ].*HW^F7T$:+:6][^^LXFEVAV)DWC.?0X[4=0/0**XJ_TZ[MH=9@LH+GR M`T#Q`;CN[OM)Z^]+=R7=P-8N$LKPPS>0$5T=,J!R<#DCU`H`ZRZO;>T:%;B3 M89W$N(H(GED)3"HI8GYAV%']?D"W-*RO;>_@\ZUPMS<74GEQ`@%L$\DX' M2F:AJ5IIL*2WDOEH[;5(4MD^F`#7"+97K6%]'%:7/ER+"R(L,@4D,,X#9.:Z MCQ3:SW4.G);K+N%VA+QKN,8Y^;\*`-'3]6L=2:1;.?S&CQN4JRD9]B!4]S

U9?\`9UU-H]Z%M[DH MHC81>4ZC>"-Q`9B2<9SQB@#T.EK@[I;F.#5+>UL[_;"X:5$`M<;N24P=H[T`=A17,:%8S66L0$17"12V"M,7W$&7(SG/?V MKIZ;`****0!1110`4444`%%%1SSQ6T+33R+'&O5F.`*`'A0N=H`RH]12I/#)&9$E1D7.65@0,=>:`';5#%@HW'J< M3@=:C%S;D1D3Q$2_ZL[Q\_T]:?%+',NZ*1)%SC*L",T`.90PPP M!'H1136EC4X9U!]":3SHO^>J?]]"@!L%M%;QB.)<*"2!UQDY./:I0```!@#L M*9YT7_/5/^^A1YT7_/5/^^A0`[:N,;1CTQ2X!()`R.AIGG1?\]4_[Z%'G1?\ M]4_[Z%`$E)@9S@9]:9YT7_/5/^^A1YT7_/5/^^A0`\@$8(R#0%`Z`#C'`IGG M1?\`/5/^^A1YT7_/5/\`OH4`/(##!`(]ZC$$8N6N,?O&4)DGH!S@?G2^=%_S MU3_OH4>=%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%' MG1?\]4_[Z%`$E%1^=%_SU3_OH4>=%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/ M^^A0!)14?G1?\]4_[Z%'G1?\]4_[Z%`$E%1^=%_SU3_OH4>=%_SU3_OH4`24 M5'YT7_/5/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%'G1?\]4_[Z%`$E%1^=%_S MU3_OH4>=%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/^^A0!)14?G1?\]4_[Z%' MG1?\]4_[Z%`$E%1^=%_SU3_OH4>=%_SU3_OH4`245'YT7_/5/^^A1YT7_/5/ M^^A0!)14?G1?\]4_[Z%'G1?\]4_[Z%`$E%1^=%_SU3_OH4>=%_SU3_OH4`24 M5'YT7_/5/^^A1YT7_/5/^^A0!)148FC)`$B$G_:%24`%%%%`!1110`4444`% M%)7-V]_J=W&]^E[;PP+.T0MY$`RHX^]UW>U*X['2T5S$'BAH;>P%S#YKSQH7 MD5U!!8X^Z.?Y5/'XH1Y;Q/L<@-LK-LWC>V#_`'>OOQFF]!'051OM'T_495EN M[5)748#'(./3CK4&EZTFHZ=-=K$%\K.560/G`SVY'X@55T>YU*Y%G>3WUL8; MH$FW*!2OIM/4GUS1U`W4541410JJ,``8`%.HHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BDKF7U74+:]O1)/#<100N\@C3"PM_`N[N3W%`6.GHKF M1?:M;ZC;P2W4$S%-TL0CQY:!>79NQSVJI8Z]J,UK.LLN)Y%B,&Z(*07;&5'1 ME]S0!V-%<]_:6I_;M4A:-=T%N'@C3YB2'KVYN4N([Z9FN864/& MT(C*9&1T)!!H6H/0V:***`"L?Q0@?1925E.WY@8QG:<'DCT]?K6Q2$`C!Y%` M(Y4QMENX#/M(50<84 M>ZPO#$PC"JZ%/F"@-P?R_"M>BA:`]0HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`&2.(XV=LX4$G M%<^T.BO=FY:TE+EMY&X[=W][;G&:Z.JD&H6US>SVL+[Y(`"^.@R2,9]>*`,4 MVNAY7%I.`H4!1(P!V_=S\W./>G>1HNYR;69@X9=K.2%!.3M&[C)]*U)-6MXQ M.'$@DAD$9BQ\S$_=P.^?\:L+=VS1O(+B(I&<.V\84^Y[4`9EE<:?8K(((I\R M'+L[;V8].234%K'HUI="Y@M95D7.W+$JF>NT$X'X5MB[MCY>+B(^9]S#CYOI MZU-0!G?VQ;_W)?R'^-']L6_]R7\A_C6C10!G?VQ;_P!R7\A_C1_;%O\`W)?R M'^-:-%`&=_;%O_C&]>[-K/Y\AR[>8V&^HW8_#%,MX-&M MI$DBMIPR,&4ERV,9P.3T&>E;EG=QWD'G1[E`8JRN,%2#@@U576K:2W\Z!)IP M9&C41IDL1U(]O>C8-RM+-I,.)",*,J6`/?.%)Z=JOP2^=`DH1D#J&"N,$?6@" M2BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"LV73I9=2FN!9NW!3G(RF%]N#WYK?^SW?_/[_`.0A1]GN M_P#G]_\`(0H`S-(T2:SNTFN?)8(LF`&+$%G##D@>_-;U5/L]W_S^_P#D(4?9 M[O\`Y_?_`"$*`+=%5/L]W_S^_P#D(4?9[O\`Y_?_`"$*`+=%5/L]W_S^_P#D M(4?9[O\`Y_?_`"$*`+=%5/L]W_S^_P#D(4?9[O\`Y_?_`"$*`+=%5/L]W_S^ M_P#D(4?9[O\`Y_?_`"$*`+=%5/L]W_S^_P#D(4?9[O\`Y_?_`"$*`+=%5/L] MW_S^_P#D(4?9[O\`Y_?_`"$*`+=%5/L]W_S^_P#D(4?9[O\`Y_?_`"$*`+=% M5/L]W_S^_P#D(4?9[O\`Y_?_`"$*`+3`,I!Z$8K"F\.I';S+;DN9)A(8Y)'" MLH(.PG)].N*T_L]W_P`_O_D(4?9[O_G]_P#(0H`I6VEW"Z6]B[+!'*7/[IR3 M$"I'44`: ME8FMZA>6=]9I"\<,$C8>21"5)_ND_P`/^?2LG2M>L)M72/[9=?:)'VL[*/*E M.<``=0/0D?E5_P`2?V>;ZQCO+N:$R-M*(,AEP1SZFP#C`[@FNA=@B,['"J,DUGQ3:5!.\T21)*_WG6(@G\<4`4;^6\@NWMDFD M^SW"FXW;CYD:K]]%^O&/3)J*'Q%=-"?,MT1W5&BRK<[CC&.2Q]QC/M6N;ZP: M02%E+J"`Q0Y`/49Q[57"Z((Y(Q!;A)#EE$/!/;M0!7TW6+R_NH8!%"G$AE+! M@<*P7@=CSWK>K-@FTJW(,"0Q$`@;(MN`>O05/_:5I_SV_P#'3_A0!;HJI_:5 MI_SV_P#'3_A1_:5I_P`]O_'3_A0!;HJI_:5I_P`]O_'3_A1_:5I_SV_\=/\` MA0!;HJI_:5I_SV_\=/\`A1_:5I_SV_\`'3_A0!;HJI_:5I_SV_\`'3_A1_:5 MI_SV_P#'3_A0!;HJI_:5I_SV_P#'3_A1_:5I_P`]O_'3_A0!;HJI_:5I_P`] MO_'3_A1_:5I_SV_\=/\`A0!;HJI_:5I_SV_\=/\`A1_:5I_SV_\`'3_A0!;H MJI_:5I_SV_\`'3_A1_:5I_SV_P#'3_A0!:8D*2!D@=/6N>DO]1O+:YB$/V5Q M0#6O_:5I_SV_P#'3_A4<]YI]Q$T4Y22-NJO&2#^E`%` MWTT/AV\DC\P3V[-&2TGF8(."0Q`R.?2H8S<,D]FUS,MQ'("L0N)4P21E]K!LJ.#SAL^BFMW2;J.YLU\LRDQX5C-]XG`.3R>H(/XTS[ M5IO[OE,1@A!L.%!&.!CTJ73_`+&L31V*JJ*%%15B0",; M4`4?*/0>E01Z791,3';1("K(55`%(;&Y MS0!H^8W_`#R?\Q_C5.76;.'.^3D<84AC^AKE=0\1VB+,C7]W=3XQ^XPD1/I_ M]?%0V.G>)=2@CEA>*RA890@!&`^H&[\S0!LZGXOAM)XTCCX/+>8,''X=/K1- MXRMT(VI%SCDS`_RJ.P\$6J)*VI3O=S2KC<,C8?4'N?<_E5F#P5HL495X99B? MXWD.1^6!^E`%1_&:+>K'B'9W4/NS_P`"'%=+;W:W,"311NR,,@Y'^-<_>>"] M.72KB*TB8W)&Z.1VR=PZ#TP>GXU1\(75U/92+;3_`.DP-\]O)T=?4>A[?E0! MV7F-_P`\G_,?XU#=7T=I#YLZ.J]!TR3[M`#FNM4N4_P!'LQ`K=))&!8#UV^M8[:EX=M[AX;R9 MY[E6^>1@2"?J.*I7/B/6->#6VC64D43G:9AG('NW1:U=+\&:=;V2I?1+PP>E`&9_P`)%J%[<26GAFP00)_'LY/OR<#/O2-X?\2:GA=4ORL+'+(K M@_\`CHP*Z^PT^TTV#R;*%8HR)K.^FU'3YK"#]ZC$"=7P4X/!'3;_\`J[UTE%`',W>C2+-J)2P$MO*\ M+K''((R^W.[&#USZXS39+34I](MM)<@3,AED,C;AM#<1G!SW'.>QKJ**5N@[ MG,Z9H]U;OHTLMO&LMNCK.RD9`VX4'GG\*UM%MIK>T=[I-MQ/*\D@R#U/'(]L M5H455Q!1112`*SI-;LDFGA5VDDA*AE09RS$@*/4Y%:-8]_I=Q-J#7<)BRHB9 M$8D9*,Q(/'&0W6@.A?M[V.YM&GB20[=P:/&'##JN/6H4UBSD$!5R1,ADR<`( MHZEL].>/K3+#3IH6,TUPZ.\K2O%&P,?)ZAYH`V&N[9(TD>XA5)/N,7`#?0]Z>L\+RM$LJ-(HR4#`D?A7,3> M';]K;RD,.'60$&3E"QSRVPDCV&.:V=(TYK'[0THC,DLF[^<*?RJ_!+YT"2A&0.H8*XP1]:RKG2!/!;HEM;P.J[79#NVJ!PH)`)&>O' M3/K5K1X+N"U9;URSELC+ER!@9Y/OD_C0!?HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BHGN88YDA>1 M5DD^ZI/6EDFBB&99$0?[3`4`245FOKEBC,!(SX_N*2#[9I!=:G/\T%G'$G8S MMR?P'2@"[/=06VWSY4CW<#<<9I8;F"X!\F9),==K`XKEM4U>ST>[/]H9U"^9 M>44#9$/3G_/]8M.UNRU:\1+*'^S[X`E!QLD]5./\*`.SI&(52S$`#DD]JR_[ M3NV40KI\HNCU#<)]RWP@_V7BTLIWGU6Y(5I-3V'H3_`)[4 MU?!6H7"#[9K#D/@R)AGY_$\UJ:%X3M]+N#=3S&[N>JNRX"^X&3S[UT5`&5IW MA[3-.A5(K6.1AR9)5#,3]3T_"M2EHH`****`"N)\3:7-HU\NNZ5E,/F9!T!/ M?Z'O7;4UT61&1U#*PP589!%`'"02^(?%4LD]M M@#3HKGQJ]\JV[_P"?W_R$ M*/L]W_S^_P#D(5;HH`J?9[O_`)_?_(0H^SW?_/[_`.0A5NB@"I]GN_\`G]_\ MA"C[/=_\_O\`Y"%6Z*`*GV>[_P"?W_R$*/L]W_S^_P#D(5;HH`J?9[O_`)_? M_(0H^SW?_/[_`.0A5NB@"I]GN_\`G]_\A"C[/=_\_O\`Y"%6Z*`*GV>[_P"? MW_R$*/L]W_S^_P#D(5;HH`J?9[O_`)_?_(0H^SW?_/[_`.0A5NB@"I]GN_\` MG]_\A"C[/=_\_O\`Y"%6Z*`*GV>[_P"?W_R$*/L]W_S^_P#D(5;HH`J?9[O_ M`)_?_(0H^SW?_/[_`.0A5NB@"I]GN_\`G]_\A"C[/=_\_O\`Y"%6Z*`*GV>[ M_P"?W_R$*E@CF3=YT_FYZ?(%Q4U%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`454O]2LM-C$E[<)"#T!ZGZ`-0[,B&7;GJJ@#^>:0ZY:%5=;V/S M#C")&_\`X\3T_"@#O:*RK>4K;+&PN!,)98FG=>%,\ MH8+]!5LPW09IWEMX6"\L$'`]R:`,BYN-/AO/)UN<)>7."NW.(5[?-T'-6[F/ M0M,C$MY+$21NS(^YG]\=_P`JP=/M;7Q7J=Y--`2L>!YY=OF[`!1C'`K4'@G3 M00<=/][_`.*H`I3^-XAFWTC3GD/1"1@9_P!T?_6ID=AXPU%?.DOEM=PX1GV' M'T4''X\UTEKI*VL7E0S&*/\`NQ*$_E4_V'_IZN?^_E`&1X>\+)I MM_$1D)GKC/)/O4?BW0)+]$O[`%;Z#GY>"X'3\1V__56W]@!ZW%P?K)2?V=%W MDF/U>@#E[3QQ(;,1R:=--?*=K!.%/OW(/MBHM3DUCQ)L@$'V.TX+QAM[-[G' MZ#BNO33[5#GRMQ]6)-654*`%``'84`8FEV-GI2`6FF2B3&#*RY<_C6A]JN.O MV)\?[PJY10!3^V2]/LWI^=&^^D/RQ1PC_`&VW']*N44`4]E^.DL)^JFCR MKY_O3QQC_87/\ZN44`4_(O%.5NPWLR"C[/=R?ZVZVCTC7'ZU24GW>KE%`%/\`LV`?=,BGU#FC^SHS]Z69AZ%ZN44`5X[&VC^[ M"I_WN?YU,JJHPJ@?04ZB@!I53U`/X5'):P2_?B0^^,&IJ*`*L=A;Q2!U4Y'( MRQXJMJFCIJ4T+O/+&J'#HI&'7!X]NO7W-:=%`&?>:1%=^=NFFC\XIOV;<';G M`P0>.>PT];(NWG23.X5=TF,A5Z#@#UJ[10`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%9VNWD]AIDEQ;(&=>Y4L%'J0*T:IZI9?VA9/;B5XF(^5U/0XQS MZCGI0QHJ'5I8Q;M)%&\;V[2O+&V58J,X7O\`G2)JLZV5R\\37/FIF/ MNYQ^E6!!"!@1)C_=%`'-V][KEMF>_99(R/N);G:O_`N/UJ4ZY=WD?EV(19L\ MGRB^!]`:W_)B_P">2?\`?(H\F+_GDG_?(H`YV33M;N'$DM_=`KT6%DC!_#_& ME%GK(!V&8''62X)S^`-=#Y,7_/)/^^11Y,7_`#R3_OD4`8%KH,L\OG7Z0*QY M.U07/U//]:NC0K=$+CH&C#5I>3%_SR3_OD4>3%_SR3_OD4`9_]C1,P9V7 M(/58E4U:CL+=#DIYC>KG-3>3%_SR3_OD4>3%_P`\D_[Y%`""W@#!A#'N'0[1 MFG)%&A)1%4GJ0,9I/)B_YY)_WR*/)B_YY)_WR*`)*YO4/!]M?:JUVUPZ0R-O MD@08#-ZYSQGZ5T'DQ?\`/)/^^11Y,7_/)/\`OD4`5H=)T^"U-M'90"$C#+L! MW?7/7\:P]?\`"NG_`-DW4MC:+%W_P"JNK\F+_GDG_?(H`JZ/I5OI%BMM;C. M.7<]7;U-7JC\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@ M"2BH_)B_YY)_WR*/)B_YY)_WR*`)**C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8 MO^>2?]\BCR8O^>2?]\B@"2BH_)B_YY)_WR*/)B_YY)_WR*`)**C\F+_GDG_? M(H\F+_GDG_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@"2BH_)B_YY)_WR*/)B_Y MY)_WR*`)**C\F+_GDG_?(H\F+_GDG_?(H`DHJ/R8O^>2?]\BCR8O^>2?]\B@ M"2BH_)B_YY)_WR*/)B_YY)_WR*`)**C$,8((C0$?[(J2@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`*][9V]_;-;W42R1-U!_F/0UFZ%X;M=#EFEA=Y9)/ ME#/CY5]!^GY5M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110!E3:NT6L_85M]R+&9)'W@%1CKCN/\`/:BUUI9]+DOC&FU<86.97))Q M@$CH&Y^TA88U.!L!96X'!]#[^_K31I-TPG2:>)O/1=)`]T`;D$7)6/[P+9^7GCTYS5_3;&2T$C33"65]H+*NT848'& M3]?QH0,O454GDU!96$%M;/'V9[AE)_`(?YTSS=5_Y\K/_P`"V_\`C=`%ZBJ/ MFZK_`,^5G_X%M_\`&Z/-U7_GRL__``+;_P"-T`7J*H^;JO\`SY6?_@6W_P`; MH\W5?^?*S_\``MO_`(W0!>HJCYNJ_P#/E9_^!;?_`!NCS=5_Y\K/_P`"V_\` MC=`%ZBJ/FZK_`,^5G_X%M_\`&Z/-U7_GRL__``+;_P"-T`7J*H^;JO\`SY6? M_@6W_P`;H\W5?^?*S_\``MO_`(W0!>HJCYNJ_P#/E9_^!;?_`!NCS=5_Y\K/ M_P`"V_\`C=`%ZBJ/FZK_`,^5G_X%M_\`&Z/-U7_GRL__``+;_P"-T`7J*H^; MJO\`SY6?_@6W_P`;H\W5?^?*S_\``MO_`(W0!>HJCYNJ_P#/E9_^!;?_`!NC MS=5_Y\K/_P`"V_\`C=`%ZBJ/FZK_`,^5G_X%M_\`&Z/-U7_GRL__``+;_P"- MT`7J*H^;JO\`SY6?_@6W_P`;H\W5?^?*S_\``MO_`(W0!>HJCYNJ_P#/E9_^ M!;?_`!NCS=5_Y\K/_P`"V_\`C=`%ZBJ/FZK_`,^5G_X%M_\`&Z/-U7_GRL__ M``+;_P"-T`7J*H^;JO\`SY6?_@6W_P`;H\W5?^?*S_\``MO_`(W0!>HJCYNJ M_P#/E9_^!;?_`!NCS=5_Y\K/_P`"V_\`C=`%ZBJ/FZK_`,^5G_X%M_\`&Z/- MU7_GRL__``+;_P"-T`7J*H^;JO\`SY6?_@6W_P`;H\W5?^?*S_\``MO_`(W0 M!>HJCYNJ_P#/E9_^!;?_`!NCS=5_Y\K/_P`"V_\`C=`%ZBJ/FZK_`,^5G_X% MM_\`&Z/-U7_GRL__``+;_P"-T`7J*H^;JO\`SY6?_@6W_P`;H\W5?^?*S_\` M`MO_`(W0!>HJCYNJ_P#/E9_^!;?_`!NCS=5_Y\K/_P`"V_\`C=`%ZBJ4.P.>#WP:AEU\0K*\ML M51%;#;Q\SJ!N7VZ]?8TZZTB:ZNS+)7AMI(RI.>1@'''>A]'D,\CI= M*J;G>(&(-M9L9SDX(X]!UH`O6%U]LM5GQ&`V<>7()!^8XJS573[5K6)Q(ZO) M+(TCE5VKD^@YJU0`4444`%%%%`&9/JQM[B1)K9TC5'9'+??V`$\=ASP:AAUR M2:!I%L\$1^:H:4`%,D$YQQC'ZT^;2KB:YGDDNHG28J,&$[E0$'8&W8QU[=Z8 MFAMY,L+W(*%!%'A,8CW;B#SR3TSQ0!I6*U)`S1L$8*Y M!"L1G!]<5DV^C2*@CN;B.5=L@)2(HS,XP6)+')QG\Z0QIU]@NTV;><`7,?F# MA-N[.?7!Z>OYUKQ2++$DB1(XPLFW=M]\9%`&>VN!("[VKF1?,WHAW8*8!P0.1DCGC'/I5I=05KNWM MQ$^9HS)NQ\J\=,]S4%OI3QQ2))+%@P&%/+B*A026A@AG$)8C<2A;^=`@,<>U54+@`#)]SU[TAC+'5UO;Z2W1$'ECD^<"W0'[O7'.,U MIUF6^F2Q7D4LEPCQP@^6HB"MD@`Y(/(X]/Y5IU3)04444AA1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%7(V_:.H8@<8QV%`['0T5B0ZC:"(K/>XR2%F!7:%W9SCTH$=!17,3>(96,B09!24%F M('RH5R!CN>O-:&G:RUW/%"UNRJ^Y5E+#YF4`GCMUH0&O17/SZQ9M5B3RK'V[ MCW]Z`-RBBB@`HHK%\0WUS9?9_LTFS?NW?*#G&/7ZT`;5%<_H&I7=Y>O'<2[T M$98#:!SD>@]ZC.JWD>KR*\DAMUN#%@Q*(P-N1\_][/K0!TE%<_%XG67A;7<0 M26*R@@*%W$YQSQGBA]=N8KEC/:B*/R5=$>50&+-P=WT[?SH`Z"BL:W\01SB, M+;2>9(`RH#DE<,21]-I'Y4V36);G0+N\ME6*:,$+\P?!XZ^G7H10!MT5S<'B M"635K.$KF&6(*X&.)W./7K0]`6IN45 MSW]M3W&FZA=0$Q^7&C1#:"5)'/UYHL]9ND,D$D4MQ.&)595$+[`H))'3Z>M` M'0T5@KXE1E\P6K^2V5B?>,NPQQCM]X(&DV+]B8238\D>8/GY(Y...A]:BT_Q%YDEO;7$1,SD+(P/W6).!@=NF M30!T-%8?VZ\O[Q%M(7C6VEV7&7&,[AGZ_+_Z%[5N4`%%%%`!16=JMS-;^5Y+ M[=V<\`^E&E7,UQYOG/NVXQP!ZT`:-%8DMS>R?:[F*ZCACMY3&(G488`#))ZY MYX_"J=IJ6HE('::66*0P[I);?R\,S`%5R!N&">?UH6H/0Z>BLFWBU)-17S7D M>`,V6++C;ENH'_`,<>M:U`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`&5>^&])O[I[FZM/,F?&YO,<9P,#@''05873[&UTLV0C$=F M%(*ES@`G)Y)SW]:NU1UN-Y='NTC1G=HB`JC))H`GGM(+DJ9H]^U64.OIGGI2!&V^B:<^S=;_O/05-#IU MI;%&CBV>6693N/!(P>I]!6)#%JD+ADEO)'&`!+DJZ;I]F_[P[H"K)%;D,K;/E!QR M>>Y[TP?VNL/FAKTNY=74@G:H"\@8Z_>Q1;6W8/U.CMH;>(N;<#.`C8;/W1@# M\*B?2K*2&.%HAE;?G.<[LYS[U86PMELELQ'^X7&%+$]#GKG/6K-%`&K9\EFQ MT5I690,Y`P3C&><59^Q6_P!GBM]A,414H"Q."IR."/:HX](LHI8Y$C8&/&!YC8)'0D9Y/)Y-7Z*`"BBB@`JM=V-M> M[/M,>_9G;\Q&,_3Z59HH`J6NFVEG(9+>+8Y&TG<3Q^)]JCDT>QEE>22)V+L6 M93*Y0L1C.W.,X]JOT4`4(-&L8'WK$[/C&Z21GR,8QR?3BHQH&GJ2PCD$G&)/ M.?<,=,'/&.E:=%`&9#HT$5V)`J>2D)AC3DD!CELDGG_ZYJ:/2[2.VEM]C,DO MW]\C,6[#DG/0"KM%`&>^B:>Y)\@HVYG#([*0S$$D$'CD"E71=/2$Q+!\A()& M]NH!`[^YJ_10!G_V+8%B3"2",;?,;`Z<@9X/`Y]J@M?#]K%;JLID>4'(D$C` MKR3\O/R]>U:]%`%&/2+&*VEMTA(BE`#C>V2![YS3&T6Q92"DNXG)D,SESQC& MXG.,<8S6C10!1;2+!H]AMQMRQ`#$8)`!QS[#Z4]--M4LY+78S12DF0,[,6)Z MDDG-6Z*`*#:/8LBJ(BNQ=J,LC`KSG@YXYHBT:QADC>*-E\O&!YC8)'0D9Y(R M>35^B@"M:V%M:.SV\>QF&&.XG=R3DY/)R3SUJS110`4444`0SVT-QM\Y-VWI MR11!;0V^[R4V[NO)-344`49M)LYYVFDC8ECEE\Q@C$="5S@GWJ GRAPHIC 14 tf1_a0415x32x1.jpg begin 644 tf1_a0415x32x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M]`*>`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`WM$\1R:A?S17,20PLC2VS@$;T#$'.3[4U_%*RW]G':6\IMYO M,+/)$07"C.4.>>E._P"$1LH7MI+-F@DBXD8EF\U2,$8)XS[4MEX2_ M$D-B6\J/R<$AO4YZT`37/B.U%DLMLQ:26!YDW)D*%_O`'UXHM/$MK/)%!LFD ME8('>*(E%9AGZBHHO"T4*ZD$N#_IB%(\I_J5))('//)]JKMX2=KJWD-ZFV'9 MAU@"R?*`,!@>^.^30MP9HCQ%8F\^S_OMOF>3Y_EGRM_]W=ZU+8:S;ZA=RV]O M%$R#@C/K5`>&7$HA^VDZ>+C[1Y'EC=NSG&[TK2TG3O[-BG3S?,\ MV=YL[<8W=NM"\P?D9\^HZK>:C>6^E+;*EG@,9@29&(S@8Z"D_MZXM]1:"^M@ MBI:K*R1*7?>6Q@8."*EO-#N3>W%QIVH&T^U`"=3&'S@8R.>#5:\\*M.Q:/4) M`?LZP_.I8MAL_,<\@^E"&63XHL!!YA2X$GF^3Y)CP^[KC&^@="5-:5Y;1/L\G^E.RJW\(4;L'..I"YQ3)]<*33QQ6C2^3N9B M'`^1<9/3KDD8]JM/IRE;!8WV+9L&`QG=A2N/;K51M%E$2"*Z5)&B>*9C'NW! MCN)'(PM`#X-;CN=3-I"L9`(^9IE#'*ALA.IZU?NYI((=T,#3R%@JHIQU M[D]A[U1_LF0S1*;A#:PR+*B"+#@@8`W`]/PS[TEUH:-%BRGDMI<_?:21^.XQ MN'7UH`!K1:%"EH[S%Y$:)&R04ZX/?G`_&HY=>:%726U"3I*(V4S`("5W3"T4!"QY.2=I8Y/`[]JB&B3""%?.MF>%RX#6Y*N2,$ ML"Y)/?.:`+"ZPC1QR+;RE6M_/("DL,D`#`ZYY_*H)?$,:063B*,-=QF0"6=8 MPHXXR>IYJQI>E?V?'(C3>:6545L8PH'3\R:B.D7"6$-I#=QA5@,#EX`VX'N. M<@^V2*`07^L/:I,HA02Q%3AG&"C`G(R1GH1CVK51MZ*WJ`>E4+&S:'4)92"( MTACMX\GE@N23^N/PK1H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`KE?$NOW-C MJ4<-G+&JVZ"6X5MN7!8#:,]\<\5U59?_``C^GO/=37$(N9+ELLTRJQ3C&%XX M%`RJWB>$>:JP,THECCB0-_K0XRK#VQ4*6'PY;079FCGN%C+,XA#`*&/7MDC MV-`BM'XFEDTX7W]FE(78+&SW"*&ZYR3TQBEA\4"ZBM?LEC)-<3[SY0D4;0O4 M[CP?:K$GARV:PL[1)YT%HVZ*0%2WX\8[^E9U]X=EM5MO[,6>8QLY+BX$94"JIQU/&3Z5MVE_!=Z:E\A*PLF_YNP[YK M%L?"RC2[2.XFDANX0P+PD'ACDKR.?K6Q+ID4NDG3C+,L1387#9*=&EMT7;E`"?E..^.>:NV/B?[7);!["2**Z5S%(9`=Q M4FGPQ8F MTM;9GG:.V615RPR0XYSQ[\5''X6M0KB6ZNIB]O\`9\NR_*F01C`[8H?]?C_P M`,^\\533Z;=&U06UQ`T9W+(DJD,<=>F:VM>-Y'IDES9WAMF@C9R!&K;\#IR. M*J#PG:&*1)+JZ?S516.5'"G(Q\O%;%W;)=VWLUD:34[R]B$R1`)$(UQD\_YZ4G_``DEQM"?0()(K18KBX@EM(_+CFC8!MN,8/^&;/RK2.*6>+[-NPRL,N&^]D MX[T/<%L9\WBIIH;R**#[/.EN\L;B5),8]0.A]C6K)>3KX6-Z)/\`2/LGF;\# M[VW.<=.M5(?"5G&A4W5TR^4T(!*\(W_`>OO6JVGQ-I1T\L_D^3Y.[(W8QCTZ MT/9_UW&M_P"O(Y;2M=OYKVT!OI+E/+,ETDELJ"-<9R"`":M'QB)[:X^SVP$H MA:2',JMD#KN`/RD#G!]*U7T"S;[&=TJM:1^4K*1ETQC:W'(_QJ&V\,VL"2Q_ M:+EXGC:)8RXPBGKT')^N:&)$-CXBD:`I=6K+-'9?:F.\?./PZ9ZT]?$3RW,$ M%OI[RF2W2X8^8`$0]?KBD/A6`H@-]>`B$P.P9QDABO`WE2%PO':MZLJUT& MUM?L'ER3'[#O\O<1SNZYX_PK5I@%%%%(`HHHH`**P(-7OFTVTNBMK(KX#E&. M78MC:H[-CD]>E6+35Y)%EEGC01>2;B/9G.T$C!]^!^=#T`UZ*P#K-Z,P^5!] MI"F7OM*;=V/KV_7VJQ8ZM)=W:#RT%O*66,\[@5`)SV]?RH`UZ*8P)?[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2 M_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_W MT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_ M[X/^-`$E%1XE_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_ MXT`245'B7^^G_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT M`245'B7^^G_?!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)1 M4>)?[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14> M)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_O MI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_ MWP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!J2@`HHHH`****`"BBB@`JAX&5P.!Z9^M7ZYG4/#E]?75W=_;$CF9U,"!<@!?NY)&1SGI^M'4 M.AL3ZM9P7L5JTJF60L.&!"8&3NYXXJ2YOX+>-6+;]Q7"H0203@'KTYZUS]AX M=O(KVV>Y2S*1/*TDBL2\H<'@\=L^M+#X8N8[:5'GCDD\V,1,Q/RPHV0.G6A` MSI$N8))'C2:-GC^^H<$K]1VIGVZT\OS/M4&S)&[S!C(]ZYI/#%Z)+Q1)!%', MDB@@[LECD8RN5'KR:6+PQ<2:C#?D*D'VQMH`WM-U.'4O.,*.HB?8=Y M7GWP"3CCOBKU5K6QM[-I&@0AI#EBSEB?06)?-7RU=@[) MA7"\-M/?%4)=&U$R6$2&U>QM$3]T\C#X97@4RAT>0 M.VZ578'D8P,#/2G_`,$#=MM'5-Q MMX;A4`R))(BJM]#WJ*;2F.KPW4/E+$D#Q,#G))Q@X'7IZU6T+1KC3[R6>5+: M!&B$?E6Q;:Q!SO.>_;O0'0EL]`6U6W*WMP)(0GI6I10!D_V#"8\&YN/,Z&7*[BNW;MZ8QC\<\U/; M:5!;7?G1N^US-^WD3H2&.`"0P(.`<`C\1Z50M];O(%E4F-(XXY`(@%8 MP[3A>`<_]]'WH`Z7[#_T]77_`'\H^P_]/5U_W\K`L=6O[RZCM5NU&9RGF!4< ME=F[''R]1CBNIH`J_8?^GJZ_[^4?8?\`IZNO^_E6Z*`*GV'_`*>KK_OY1]A_ MZ>KK_OY5NB@"I]A_Z>KK_OY1]A_Z>KK_`+^5;HH`J?8?^GJZ_P"_E'V'_IZN MO^_E6Z*`*GV'_IZNO^_E'V'_`*>KK_OY5NB@"I]A_P"GJZ_[^4?8?^GJZ_[^ M5;HH`J?8?^GJZ_[^4?8?^GJZ_P"_E6Z*`*GV'_IZNO\`OY1]A_Z>KK_OY5NB M@"I]A_Z>KK_OY1]A_P"GJZ_[^56U!]374;46D<30$MN+,P_A/WL`X'I[UG>( M1/%?F2*>8E[27"@\(`4SC'?&>>M`&U]A_P"GJZ_[^4?8?^GJZ_[^51T:6VCN M+N.VE3[(TBK!A\J6V98+Z^OYUFW"S0PZA%]H9T^W1+++,>`A5<[L8^7V&.*` M.@^P_P#3U=?]_*/L/_3U=?\`?RN>6W=K.&ZAD3_1YFCA5,E9#O!!3)X!QCOQ MFM7P_=K-#);A,/%R[[L[R2V2?0Y!./<4`:]%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%8]QXGTJUU$V,UQMD M!PS8^13Z$U2\;.Z65L5N#&!,"T:OL:0#'0^HZ\_TH&D=+17,0W-U_:KS"X>6 M-]-,T,;#&WD8SZGWJMHNKO:Z5=R322SW`CCD53-Y@9F'88R#ZCG%`CL**X&W MO))[&W7^TY_MIN'5!O*+G<"7;/;'&/?%:EI=W#>*B&N)#NGEB:(M\H144J=O M;D]?>@#JJ***`"JKWFUV7[-<'!QD)P:M5F)K"R:O)8(D>8VVL3,H8_+GA.IZ MT`6/MW_3K=?]^Z3[:,D_9+G)Z_N^M0WFKQV5Q)%<1,IV!X<'/G'IM'ODCCWI M\.KV;JPDFCCDC4M(N>%Q][!Q@X/'%`#Q>@``6ER`.@$=+]N_Z=;K_OW47]M: M?L#?:,9?8`4;=NQG&,9Z5?H`J_;O^G6Z_P"_='V[_IUNO^_=6Z*`*GV[_IUN MO^_='V[_`*=;K_OW5NB@"I]N_P"G6Z_[]T?;O^G6Z_[]U;HH`J?;O^G6Z_[] MT?;O^G6Z_P"_=6Z*`*GV[_IUNO\`OW1]N_Z=;K_OW5NB@"I]N_Z=;K_OW1]N M_P"G6Z_[]U;HH`J?;O\`IUNO^_='V[_IUNO^_=6Z*`*GV[_IUNO^_='V[_IU MNO\`OW5NB@"I]N_Z=;K_`+]T?;O^G6Z_[]U;JAJCIT[T`:=%8QUY@ MA7[&WG@;S%Y@^YMW;L_3MZU/:ZLEU=B)(B(GW".7=]XJ`2,=NOZ&@#2HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`***Q;_Q5I%A(\4EP9)4.&2)2V#]>GZT`;5%>=ZMK M]WXAF2&PWVEHARSLQ&3[D?R&?7Z21/XHFB1)=2AMD1<*[S)EOQ7)-`'H%%>: MW<6N7)#7FJ)NA7]SLE!W'_@/3ZG':NK\(:S+JNGNET@KEX_#M[X@DDO[V4!I#\ MO)"X]%&.GO0!N:[XJM=(G%LD37-SC)16P%]`3Z^U8,^N^(M2W)"L5A&>I)"- M@^[<_D*VM+\(VMD2TCEF[;#C]>M;$.EV4(`2VC)'=AN/YF@#C](\/PB)GNK) MM01G&Z4,5.?]D9!(_G72>(I[6.W@BN;+[89)1LCXZ@CGG^7?-:X``P!@5D^( MK*YOK...WCAEPX++(<$,^M7[>:TEUB<0V7[]/DDN`$'8''7=W':LM-`O$6-Q[G=^'&*U_L/_3U=?\` M?RC[#_T]77_?R@#/L-`:UNTN7N%8K(9"BH<KK_`+^4 M?8?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?\`IZNO^_E`%NBJGV'_`*>KK_OY1]A_ MZ>KK_OY0!;HJI]A_Z>KK_OY1]A_Z>KK_`+^4`6Z*J?8?^GJZ_P"_E'V'_IZN MO^_E`%NBJGV'_IZNO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[^4?8?^GJZ_[^ M4`6Z*J?8?^GJZ_[^4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1]A_Z>KK_OY0!; MK*N=`L9Q=$0HDEPH&X(OR$=QQ^?K5K[#_P!/5U_W\H^P_P#3U=?]_*`(;2PN M('FE>XC\V=@9"D6``%P-H).#WR<_2DLM-EAN9;BXGCDE>,19CBV;@.=S M9]L3[05\LOY7R[-NW&,]>^<]:L6>D?9+I7$VZ",LT<>WD%@`4OJ__?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:DHH`C\I? M5_\`OL_XT>4OJ_\`WV?\:DHH`C\I?5_^^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[ M[/\`C1Y2^K_]]G_&I**`(_*7U?\`[[/^-'E+ZO\`]]G_`!J2B@"/RE]7_P"^ MS_C1Y2^K_P#?9_QJ2B@"/RE]7_[[/^-'E+ZO_P!]G_&I**`(_*7U?_OL_P"- M'E+ZO_WV?\:DHH`C\I?5_P#OL_XT>4OJ_P#WV?\`&I**`(_*7U?_`+[/^-'E M+ZO_`-]G_&I**`(_*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T>4OJ_ M_?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4OJ_\` MWV?\:?TK&O?$^G6M`&I(L44;22.RHHRQ,AP!^=8MQXDL80 MVR&\FQTV9P?S;/Z5DZOXC?5F6PTN(R/(X/8CW%`&%J_B>TL540;I68`@EV_+&:R)_&+R0-$D;QS'@;2P;/IU-;G MA_PPNE7#W-S/]JN/NQN1]Q?;/4OJ_\` MWV?\:DHH`C\I?5_^^S_C4E%%`!1110`4444`%%%%`!6)?I-'KJ/%-(S/:3;( MR1M4C;C`^OK6W55[S:[+]FN#@XR$X-%@,/2)O*E!L(GNE:UC,ZK(/]:2 M/[*%M9@CH^V#!'V.YP>O[OK1U# MH<[%!(]A#=1S!C;S,D2KDJYW@KY9SP#]WZ9K7\/W:S0R6X3#QM.EU^06BW$E[86T;`$8;S'/T`S0!TM5KC4+2V;;-.BM_=SDC M\!7"3^(+V^G9-/2\NY`.&4%0/^`+_C4]GX3U;44,U]>?8]W(C`+'\1D8_/-` M&EKGBG85M]-W/,Q`&T?,Q[`"JL7B/5M/N8EU:V>*.3.WS`,-Z\@5KZ'X5M-( ME^T,[7-USB1Q@+]!5_6=+@U>P>UGXSRC@%`%>QTNQTX' M[':QPDC!8#DCZ]:N4P2QGHZG\:BDO;:/[TRGV4Y_E0!8HJG_`&E!W$@'J4-' M]I0'B,22'T5#F@"Y15/[?MY>VG4>NRC^T$;B**61O0+0!01RETD&UT3>%.1PRXY!_GBAC1M">(R",2* M7*[P,_P^OTJ.*^M)X7FBN8GCCSO=7!"_4UEP6WEWZW,MF5\RQ_?*BDC=\OR# M\.@JO!N,],9QCG/3%31WMM+=-;)*K3*,E1^'?IW'YT`6***S+WQ! MI5B=L][%N'\*?.1^`SB@#3HK!MO%NGW5P(H8KIE)QYHB^0?7O^E7KC6;*WA, MC.[@?PI&S$_AB@#0HKFI_%4S@?8=(N)/4SD1?ISFD/B*^/+VEM;^S3%S^@%` M'35GZAK6G::#]KNHT8?P`[F_(:CK!\B*^:%&X\NWA()^I)S_*JL?@X MPN&E227//-)`.(KHG'`V#G]:I?\)_G[FE.V3\O[[K_X[5Q= M)=%VPP+C&!OL8Q5V+2[QL;KJ>-<-!*P\S2[E%]58'^>*U-.UZ"]=T=#`0"068$$?7U]JFCT>T08VL?QQ_* ML_5=$NI9D.G2QQQE=KK(Q^4Y^\..?ID=*`+MUKEG;#YGSGH20H)].:HR^)4C M`;=%@G&"#G\ZGL_"^EV\9$T`NI7&'EG^8GZ>GX53O?!6EO!,;6.2.8H?+_>$ M@-VZT`:T.HL8DEEBQ$XR)$.1^/I4EWJ,-JB-\TK2'"+'R37,>$K^_O+6:UB> M`/#PZ3`GKW&/<'(_QKH;32EC!:Z82R'G`&U5^F*`*TFIW5SB.-4M`?O2LX8@ M>P]:B>")CL^WWD\1YE49(/X]A5_5)[+2=/ENY8H@$'RC:,LW8"N0M'\6ZS:% MX)5CM9R1N^1`!TXXW8^E`$MYI\.K^(8PH5K"!-ODQ',F!UX'^T>N:M0^$](C MEWO;:E*O]Q\8_0`_K6QXFO$G]U M4"C\:G^T7?\`SY?^115NB@"IY]YVL@/K**3S;X]+9!]7JY10!3_T]^T,8_$F MC[!YG-S-)*?3.%_*KE%`%7^SK3_GB/S-.%E;`8\A/RJQ10!5.GVI_P"6(_,U M+';PQ',<2*?4#FI:*`"BBB@`HHHH`****`"BBB@`HHHH`****`"D(!ZC-+10 M`4A4$@D`D=#CI2T4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`'/:9973Z9IK7$/[V&4 M%2^W>D>._P"GOTS38;2ZA@DCE@=<0?9%8$'>S,<-UZ#(/KUKHZ*'J!S!L;XR M&Z^Q/EHS#Y.]\ACEC.R!I'\[(P^X``#G/KU':MV MBCK<.EC+U6RO+N4+"T8@9`KJ[M@\G/R@8-10^'X8U&60GOMC"C^=;-%`&=_9 M$!3:P4^_S#^35##H$$+E@[,#_"<@?H:UZ*`*JV:*,".#T_U7_P!>D%A"IRL% MJ#ZB`?XU;HH`@C@,((B$*`\G;'C/ZT_$O]]/^^#_`(U)10!'B7^^G_?!_P`: M,2_WT_[X/^-244`1XE_OI_WP?\:,2_WT_P"^#_C4E%`$>)?[Z?\`?!_QHQ+_ M`'T_[X/^-244`1XE_OI_WP?\:,2_WT_[X/\`C4E%`'":J9/#/BQ=05?]%N@= M^U>.?O#&>N<-6CKGBK[/;6ZZ5)'N>,5T=W:07MN]O%]:U:6&36[X&(?,8PV6' MM@#`_`UV$,!MX4AA\M(T4*JA#P!^-3T4`1XE_OI_WP?\:,2_WT_[X/\`C4E% M`$>)?[Z?]\'_`!HQ+_?3_O@_XU)10!'B7^^G_?!_QHQ+_?3_`+X/^-244`1X ME_OI_P!\'_&C$O\`?3_O@_XU)10!'B7^^G_?!_QHQ+_?3_O@_P"-244`1XE_ MOI_WP?\`&C$O]]/^^#_C4E%`$>)?[Z?]\'_&C$O]]/\`O@_XU)10!'B7^^G_ M`'P?\:,2_P!]/^^#_C4E%`$>)?[Z?]\'_&C$O]]/^^#_`(U)10!'B7^^G_?! M_P`:,2_WT_[X/^-244`1XE_OI_WP?\:,2_WT_P"^#_C4E%`$>)?[Z?\`?!_Q MHQ+_`'T_[X/^-244`1XE_OI_WP?\:DHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HI"0"`2!GI[ MTM`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`,KC$ M1)4GKRI'?../I3;"<6_V\1302R/&S"5`RLLA8@(V3USTX'3I72M&CLC,H)0Y M4D=#C'\B:'BC<89`1N#?B.AI=+#N<<7M]A42_P"@;"RMO./.\L'@^N>?K[U? MTEW;5(S(Q^UDR"X7/(0!=N1V[8^IKI-HQC`QG/2C`SG'/K5=;BZ6*]QJ%E:2 M".YO+>%R,A9)54D>N":B_MK2O^@G9_\`?]?\:M/-%&Z(\B*SG"AF`+'V]:1; MF!G5%FC+,"0H89('6D!6_MK2O^@G9_\`?]?\:/[:TK_H)V?_`'_7_&K4,\,X M)AE20`X)1@FY&!%/H`H_P!M:5_T M$[/_`+_K_C1_;6E?]!.S_P"_Z_XU>HH`H_VUI7_03L_^_P"O^-']M:5_T$[/ M_O\`K_C5ZB@"C_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^O^-7JC\^'S&C\U/, M0;F7<,J/4B@"K_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^O^-3B\MC&\@N(2B? M>;>,+]3VJ8$$`@@@]"*`*7]M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU>HH` MH_VUI7_03L_^_P"O^-']M:5_T$[/_O\`K_C5ZB@"C_;6E?\`03L_^_Z_XT?V MUI7_`$$[/_O^O^-7J2@"E_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^O^-64N8) M$#I/&REMN0X(W>GUIWFQ_P#/1?O;>O?T^M`%3^VM*_Z"=G_W_7_&C^VM*_Z" M=G_W_7_&KU%`%'^VM*_Z"=G_`-_U_P`:/[:TK_H)V?\`W_7_`!J]10!1_MK2 MO^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[:TK_ M`*"=G_W_`%_QJZS!%+,0J@9))X%1BY@9%=9HRC@E6###8ZXH`K?VUI7_`$$[ M/_O^O^-']M:5_P!!.S_[_K_C5KSXO,6/S4\QAN5=PR1Z@>E24`4?[:TK_H)V M?_?]?\:/[:TK_H)V?_?]?\:O44`4?[:TK_H)V?\`W_7_`!H_MK2O^@G9_P#? M]?\`&KU%`%'^VM*_Z"=G_P!_U_QH_MK2O^@G9_\`?]?\:NU''-\D@ M;7!R1U%`%;^VM*_Z"=G_`-_U_P`:O5"UU;ILW3Q+O^YEP-WT]:FH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`,#Q,2L:O%;RO.@#H5B+A\,#LR/ MN],Y]JJM92PS+`(96E'E,LB)G"JA#?-TSG/!/\5=312L.YC^'D:.&6-1)]G3 M:(VEA$;D[>00`,X/?Z\FMBBBF]1!1110`4444`8.IL@U,LMK,#"!*95@=O-8 M*=JA@,`#//Y>M4["SDM&$36KR20"5Y"8SB0%1M&<8;)'3VKJJ*`*>E6HM-.A MB*@/MW/QC+'D_K5RBBA@%%%%`!1110`5S5X@FO;E8K::%ANB5O(?]XSX#.7Q MC`'3GM72T4`<>EK)'%&PMY$-LJB7=`S*SASU`Y88.48"L,O[J^8KDL<*<_,?7ZFM^BC MK<.E@HHHH`****`"BBB@"KJ11=/F,EN]PH7/E(I)?VP*PX[+[5;SJT(&1SG:`0#@;<>^?>NFHI#N8#QG^TM/V6\JRH4+DQ'##81G=VVYZ>];]% M%4(****0!1110!'/M\B3>K.NTY51DD8Z#%<_I%L+F]FE:"6!#%@Q&-XMF<`` M$@9("\D>M=)10!RS6\L$%@8XKA;B.+9%'Y`9"=XR&)!*\#KQ]:ZBEHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`,36?$]EHMVEMRMO-C6`(3O M5>=S'N1ZBK?@C1[_`$G[;]N@\KS?+V?.K9QNST)]10!LP:Q#,[;HIH8E++Y\ MH58R0<'G/L:M&]M0')N80$.'_>#Y3[^E9*:`HCB++&THN3+(2S%67<3C!XSR M.U58/#]W]M26?[.8U<$J&X(#$\*%`'7IS]:$#-QM1ME\WYP1$H;((PP()&WU MX%);ZE:SHI\Q8RYPJR,`6^@S6-!X>NH7\P20DF)H=I)V@$'D<<'I^&:2/PY< M*LN]K3`['/3\J>M];G.^18CO*` M2,!N(].:S=3T(7[W\A6,R31*D+,2-I`/7\QZUFZA87%O=2J(DG:Z/R_*QV?. M#D$*1GUSCIG-"W!['16VHP75LTUN3)L!)C4@N.O&,]>*CCU>VEDA2+?)YJJV MY0,+NZ9YX/!X]JATK2WL98W;RLB)D;9W)?=GI4$VANUM-%$T41ENS-N&>%(/ MMUYH`TCJ%L)(T656$F[#*P*C:,G)[5!)K$`LY;J*.6>*)RC&(!N@R3UZ5BQ^ M&KS9RT2D#&TR%@V`!_='!QCIT]:UK?3YQI=[`Z0Q27)D951B57<..<#^5#!% MFVU*">-6?-NS@LLR7\,R?9 MV2/RSAFVYVC!!^4D_7/3M1#H%S'I5Q:?:1EU8*%.$;(_BXSQT&#T`H!=#5M] M0CE3=-'):Y;:JW&%+'VYYJ7[7;>7YGVB'R]VW=O&,^F?6L^ZT2.3R4@"I&@D MSN)8AF7`(SZ5D_\`"-7GE@Y3@$=92U%:Q&"UBB)W& M-`I/K@5+0`55O[Z+3X%EF5V4MM^0`G."?Z5:K,U^TGO+)([=-[B0,1D#C!]? MK0`6>N6UY%"@#KTY^M2_V+=^2D2I9H8F&V4Y+2_-`&Y'=6\HS'/$X MY^ZX/3K^5(+N!XI)(Y4D6,$ML8-BN8;1;N%%C<@2SRJ@\O+83:5?)"@`8.1] M!6GIFDW%HMY&1"D^,@<]"3CFA^0(LQ:W9S+9,K-B]#&/('`49. M?2KDEW;1#,EQ$@X^\X%<_!X;N(VC#31%(QM4`GY08V#=N[-GZ"G)H5W++YER MML,1&,*'+<^7L!^[Z\T,$;37\"([.X3:S*`Q`+D>G/-.CO+>0';-'N"[V4N, MJ/?TKGSX?O%AE0+:3&9#'^]8XCS@[AQR>/;M44&C7LL4L:1P1F*5\2-UD^4# M&"O3OGGMQ0!TD5]!-<"&)Q(3'Y@92"I&<=:KVNLV]S-Y?ES1`ABKRJ`KA3AL M'/;WJKHFDW-C=233M'AU8`*Y8C+9Y.!5(>'+GYL+;QM\^YQ*S>=EMP5@5PHX MYQF@#H1>6I\O%S#^\^Y\X^;Z>M,&H6[74ENCAY(T+OM(..<8/O6+_8%Q*]S, MZV\;S#Y4!)$9W`\''H/S-6=.TJXMII#(L`40&%75B6D)8GG:`(7A63$* M[QG("H5../4U!-X?O93YFRWC(`7RHY2`?DV[B=OZ8Z4WU$NAOW>HVMH@>60$ M%BN%Y/`R?R`JU6#;>'R+IWNUAEA=`A568$;0`#[YQS]!UQ6]0`M%%%`$%UAH`MW>J0VLS1&.:0HH:0QIN$:GH3^1Z9JL/$-KL9WAN4CPQ1V08DV M]<<^QZT^XMK^*\GEL?)(N54%I&(,1`(R!@[N.W%5E\/@:7+$2'NV615=I'*+ MN)/`/"\>@H`T&U2V6Y\@E]^\(?D.`>/TRP'XU=JJ^GVTDXF>/,@(;.XCD8[9 M_P!D?E5J@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,6U\ M10.62X1T*R,C.%^1>6QDY[A:G.MP"-6\BZW,?E3R_F*XSN^F*:N@6821"TK+ M)+YK`D=>>.G3YC0=%!1:!]1C>([,%BL=PZ#) MWK'E2``21SV!!JS8:O:ZA,\4#,64;@2.&&<9'X^M1+H-HL)B5I53;(H`(X#@ M`]O0#%/T[1X-.E9X6<@C:JD*`HSGL`3]3F@12L-;DFN]D\EOL,K1+'&C;P=Q M`R2<=JL+XALF<#$P3@&0I\JD@XR?P-3MI<9LUMTED39*94D&"RMN+=QCN>U0 M1^'[1(#"7F="RL=S#G`([#W-'0?4FTW43?SW*^2\21[-F]<,01G-:%4[#3Q9 M&0^?+,TFT$R8X"C``P!VJY0(****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H -HHH`****`"BBB@#_V3\_ ` end GRAPHIC 15 tf1_a0415x38x1.jpg begin 644 tf1_a0415x38x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M/`*F`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[?4+M;"PGNG4L(D+8'?VK*L[O766"YGBM)+:9-Y6/(:(8R.I MYK8N[:.\M9;:8$QRJ5;'H:Q[70[V-X5N-6DEM[=2L4:)LSQ@;B#SBEW&)9^) M!_8UK>7=O*\LRNQ6VB+!0I.3R>/SJ5_$]@'B2-9YC)&)/W4>=JGID=?RJE)X M3=K.SMA>JRVZNA$D.Y3N).X+G@C-,N?"#SP6\)O8BL48CW&W&X8/52#G\"35 M=1&J?$%G_:)LD2X=U8(SI&2JD]CW_2EU_4I=-LE:VC66ZFD6.%&Z,Q_^M6?= M>%FN-1CN3>*%1E8-Y0$HV]MP(SGU()J]JFAQ:M?02WDA>WA4@0#(RQ[[@:70 M"?1M1&I:5%=L`CD$2*.BL.HJO/K;164=V+0F%P7W&0+\N>,9ZL1R%I=,T1-, M6\AAE/V6X.4B(/[OC!Y)YJ(:;=SZ5!:O+'&$B,$B21!P<] MUE;1+IS;R2+;HI^0$DL03@\<```Y/K2WFK"VEBB6`R/*@(`;'S,0%'X\\^U" MZ3C2[NS,Q+7&X&0C)`(VCZX`%)-I+2M)()P)M\;1,5R%V#@$9YR2WYT`5Y?$ M21&*-H429F=766=4"E2`1N/7.>*V2Q$6\J20,X7D_A62VCW/DNB7<6ZS:*6.)9 M5C+@[@QP`>.#GM1)K;P,WVBQDC7RY)(\,"S!.N1VSVI+;1[B/8)[J&8>:LLK MB$J\A'(R2Q[XXP,8IIT6YE%T+B]BD-RI4R"`AP.R@[R-H],!T_6GZ9H[VF MHSWLTD3-(@4)#'L1/4@9/7`_*I$TV>"$+;7,8<322_O(=RD.2<=H-`$U MO?\`FW$<+QJADA\U"KA@W.",^V1^=7:R;+36MKNU4$F*T@90YXWLY&>.P&/U M%:U`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`\]U-<0BYDN6RS3*K%.,87C@5"?#-BT=BDCS2"R.8RS#)&I`[D5(GB.62.[F33G,%L[1F0S*`6!`QST'.MY-0:[6>XB\QP\D<;`*[#OTR/?FEE\/6LFG36?F3!99S/NR,AB<^F,4`4 MX?%:36X\NS+W+3^0D*2J0QQG(?IBH7\9QH[PFR*W".RM'),J`;>OS'C/8#O3 MK_PVT-MNL6FN)S.LQ9I0C@@8)4XP/QJ+3?";&%YKN6:WNWE=@R2!V"MCAB1@ MGWH`Z&TOX+O34OD)6%DW_-V'?-<[H'B.XN]2E2[E1XIT:6W1=N4`)^4X[XYY MKH)=,BETDZ<99EB*;"X;+D=^3GK563PWII^SF&(6SP'(>%55FXQACCFA[NP+ M;4K6/B?[7);!["2**Z5S%(9`=Q46'._KGBBW\/VENMBJO,PL@XCW,/FW]<\?RQ0P*Z>) MHWM;&86KG[6LK!0PRNP?UQ6?>>*II]-NC:H+:X@:,[ED252&..O3-7/^$/LF MC2.2ZNVCC#K&A=<(&ZXXIX\)VABD22ZNG\U45CE1PIR,?+Q1U`U;^*XFM<6U MT;:0<[PBOQZ8-<[I6LWT>F6UY=W$E]->.8H;8(B?,&(SN`]!^M=45!4KV(Q6 M3_PCMJ--M[*.6=/LSF2*8,-ZL23UQCOZ4!T,X>)KN?6+6TAL60[W2XB+J6R! MV/H!S[U:L?$HO;R2T^S^3((FD0B59.G8@=#[4O\`PBUIF)Q<7(F5V=Y=XW2; MAAL\>GI3]/\`#5M8S)*ES`B$P.P95(7!R5Z\=JN6NBVUK M,)8WE+"V6V^8C&T=^G6F6N@VMK]@\N28_8=_E[B.=W7/'^%/K_7]=@Z&K111 M2`****`"BBB@`HJMJ$TMO8S301^9(BY5<$_H.363!J]\VFVET5M9%?`2;B/9G.T$C!]^!^=5SK-Z,P^5!]I"F M7OM*;=V/KV_7VH#R-^BLBQU:2[NT'EH+>4LL9YW`J`3GMZ_E6HP)?[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14> M)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_O MI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_ MWP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_ MQHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_?!_QH MQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_&C$O] M]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$O]]/ M^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT_P"^ M#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%%%`!1110`4444`%%%%`%"ZU MG3K.Y%M<7:1RG'RG/&>F3T'XU9AN89Y)8XG#-"VUQCH<9_E6%):ZA:7NH+#I M\=ZE[(KJ\C+L7CD,#SQ574])U"26["6F^*:Y#Y5QG`0`$#GI2Z#.MHK MBDTG6%N;"5X)7DB2-3OE!4$'GD,"O'IG-7M#T[4+36YI9H7\I]^YY'!/7(P0 MWS?BHQ3$;POK8WQLA,OVD)O,??'K5FN132=874UU<;@LT6X>9Y9^7;NS MMQMYKK:.@=1:***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"G_`&K8 M_;_L/VE/M/39[]<9Z9]JB_MW3/-CB^V('D)5001SG'IQR#]:RKVWU&36&F&F M'[-`6>'RWC&^3&-[`.OUQ[4Z+4K2:6&*.=3)-'YJ+@@E?7';\:Y0:/JJ3W&R MV<%UEC+%U*8=A@QC.1QR:V6T.TN5E=!E@H/%%9?ARQO;.XD5X9K:T$0412S"7Y\\E<=!CZ44Q&W=0"YM MWA+NFX?>0X(]Q699Z`MJMN5O;@20@Y("$,3U."IQTQQVK9HI#,M=&6)76*>0 MA\)A\$+'NR4''?)YZ]/2F_V#"8\&YN/,Z&7*[BNW;MZ8QC\<\UK44`4+;2H+ M:[\Z-WVKDI$<;4)P"1QGG'KZU?HHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"A)8SO(S+>R* M"20HSQ[=:;_9]Q_S_P`OZ_XU%/+((0TQ:W:"1A"B=QMY/J>35>\N;S[1$ MUFTB)?'R0LZE3"PR=P!_V0>/4"@"[_9]Q_S_`,OZ_P"-']GW'_/_`"_K_C6> M- MG7BA:AL:W]GW'_/_`"_K_C1_9]Q_S_R_K_C6A2T`9W]GW'_/_+^O^-']GW'_ M`#_R_K_C6C10!G?V?;S)&8IP"P!X[#@XH"QJ?V?65)O-$SDOAQ\J@8&T>A` M*Y]R:*=F*Z6YL4444AA1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!3DO+)9]SLOFQ MY7<4)(]1G'M37OK!V1G96*'>/K0!"TFDMW_CI_PH_M*T M_P">W_CI_P`*MT4`5/[2M/\`GM_XZ?\`"C^TK3_GM_XZ?\*MT4`5/[2M/^>W M_CI_PH_M*T_Y[?\`CI_PJW10!4_M*T_Y[?\`CI_PH_M*T_Y[?^.G_"K=%`%3 M^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"K=%`%3^TK3_`)[?^.G_``H_M*T_Y[?^ M.G_"K=%`%3^TK3_GM_XZ?\*B:ZTURQ?RV+$%LQDY(Z$\=JN^;'YPAW#S"N[; MWQTS4%K?07<]Q#"Q9K=@KGMGVH`KQ3:5#.\\2Q)+)]YUB()_'%.-SIIB:+Y/ M+8[F41D`G.2>GK33K5JK2AUF18T>0,R8#A>&VTDNM0P0++-;W,88G`9`#@#) M;KT`H`:&T=EDB>Z;:D;K\WU^GO[B@#1HJG;:C%<"5Q' M*D468]GS`8W;L>F.:`-2BJ4&IV\]V;>/>3S MM?'RL1C(!]1D5=H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBF22)$A>5U11U9C@4 M`/HINY=N[<-O7.>*9+BAC@C"1(J(.RC%`&1X MGENHK6%K::2)!(/,,1&_&1T!Z]>@]J?-=W0N=/:*9)+:6)FX7!D;82#[#I4F MO1:=);1G4YA"BR#8^\JGJ,UK0V.G1L_DS86W;]\&E+<;2`K$GH`>E5_)\/FT8B[A,:L-T@NR M2,C`7=NSC&1CTIL2&:7J-Y/>0R79F2*Y_P!2J^7Y9.P$@\;O[QZUT%9EM!I2 M:D1;R1_:57<(EER%R,;@N<`D8YQ_.M.FQ!1112&8DVDS2ZGYRQ6T/[[S/M41 M(E*[<;2"/ZX]JGN=),TEBS2&4#B MD^SW?_/[_P"0A0!CRZ#=-J/EQ@KCG\^G:H+#PY=IJ]K=W0M MS%$FUDW[B2`0"`$``YZ=JW_L]W_S^_\`D(4?9[O_`)_?_(0H6@/4M4M5/L]W M_P`_O_D(4?9[O_G]_P#(0H`MT54^SW?_`#^_^0A1]GN_^?W_`,A"@"W153[/ M=_\`/[_Y"%'V>[_Y_?\`R$*`+=%5/L]W_P`_O_D(4?9[O_G]_P#(0H`MT54^ MSW?_`#^_^0A1]GN_^?W_`,A"@"W153[/=_\`/[_Y"%'V>[_Y_?\`R$*`+=%5 M/L]W_P`_O_D(4?9[O_G]_P#(0H`MT54^SW?_`#^_^0A1]GN_^?W_`,A"@"W1 M53[/=_\`/[_Y"%'V>[_Y_?\`R$*`*UQHL,VH->"66.0QE1M=N&SPPYQQCIC% M1Z9I5SIDTY2=9XW"*BOA>!P2<+U_GWJ[]GN_^?W_`,A"C[/=_P#/[_Y"%`&9 M/I5Y[_P"?W_R$*`*>F:?>65W(IF)M0I"Y07UN8VGZ5/:7<89HS;PEW1@3N8L`,$8 MXQSW]*UF0,4OJ M_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I**`(_*7U?_OL_XT>4OJ__ M`'V?\:DHH`C\I?5_^^S_`(T>4OJ__?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9 M_P`:DHH`C\I?5_\`OL_XT>4OJ_\`WV?\:DHH`C\I?5_^^S_C1Y2^K_\`?9_Q MJ2B@"/RE]7_[[/\`C1Y2^K_]]G_&I**`(_*7U?\`[[/^-'E+ZO\`]]G_`!J2 MB@"/RE]7_P"^S_C1Y2^K_P#?9_QJM\GM2)H_F M,K7UU+=!>BMPN?I4EWK>F63LES>PHZ_>3=EA^`YK`U+QO&2D.BPM=3N<9=#C MZ`=2:`-T:%8`_,CNO96/+B3'V33.4!:4,Q;`_`#'U-`&]%(-*E:VNS+]GSF&7+8`_NG%6+B M^ACD6&V26ZF8;@L^:`,^2YOV4QII\L#C'LF1Q[GFM'3_`]C;S&2\E>\ M/96&T?C@\T`5+GQM"\ABTVQN+ASPI:1A^@R3^E5K7PWK.LS/J-_=/939'E@@ ME@/89RH'Y_SKMK6TM[.+R[6".%/1%`J>@#F_&L)DLK9T@ED=)AM9%#A22!AE M[@_SHN;*X_M#2KV&U(NO(=7`SLC/E\+Z*,FNC(!ZC-+0!ROAM;C3[BZM=1MI M%:ZFP'8[@[;,MS@<<'^54KW39A90W@M9HS)<2O)'%""R@@J@VD=.!V[UVI16 M96*@LO0D5W%"2/49Q[5%;W&EVN_P"SK'%O.6V1D9/Y4+^OQ`H++>1W M1W_*@!-'U6ZU.=?W<,<( MA21^I;+`]/;BMFL^&YTRWSY`CBR`/DBV\#H.![U+_:5I_P`]O_'3_A38%NBJ MG]I6G_/;_P`=/^%']I6G_/;_`,=/^%("W153^TK3_GM_XZ?\*/[2M/\`GM_X MZ?\`"@"W153^TK3_`)[?^.G_``H_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/ M[2M/^>W_`(Z?\*`+=%5/[2M/^>W_`(Z?\*/[2M/^>W_CI_PH`MT54_M*T_Y[ M?^.G_"C^TK3_`)[?^.G_``H`MT54_M*T_P">W_CI_P`*/[2M/^>W_CI_PH`M MT54_M*T_Y[?^.G_"C^TK3_GM_P".G_"@"I-J%TFL?9?LS+!Y18R%EXY`W=>@ M]*CTB29-1GMY)Y)HS"DL;.X?>,D%@>V>.*O_`-I6?_/7_P`=/^%5HFT>%66* M*!%=@S`0\$CD'IVH0,PYM1O;;>3-/YDB3[W+*T>0<*4YXQP/QYJ;_B9/;7,8 MN'A:VDW,))R2BE,@EQ]X`\X_"M=9-(1Y76.$--D2$1??SUSQS1')I,5NUO&D M20L65)O-$SDOAQ\J@8&T>A`*Y]R:*G2XTR.X>=-BRR< M,X0Y/Z44Q._0T:***0PHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBLR^O;@W*VNGA7F4;Y,]`!V^IH`TZ*RUOM0F7]SIQ M0XY,K[>?IUI?LVJ3'=+>QP>BPIN'XDT`:$DL<0S(ZH/5CBL^XU)II1;::5EF M/+2=40?6G1:/;AO,N2UU*>KR'/Z4MY?:=H=L&G>.WC8_*JCEC[`4`127.I60 M\VZC@F@!^)98G#HPR"*R;/Q5H][<+!%/+C8,Y/I@?UH`MV=G#9 MQ;(4QZL>K?4TS4]1M]+LGNKIL(O``ZL>P'O7'QWGB/Q-.TVGO]BM(R=AW%0? M8G!+']*G@\(ZC?7<Y4T`6@`,X'7K2;5YX'/7CK5=M0M5'^M#'L%&33?MX/(MKDCU$=` M'):EIFH>&-2DU32%#V;\R18SM'<$>GH>W\W-XHU?6IU@T&U\LJ@,C,`2#]3P M!_.NK^V2'[MG,1[C%0V^+4,+;2Q"K'+>6%7)^@H`YJXTKQ=J41M;R[B$#D;N M5'_H(R?I71:3X?T_284$,*/,!\TSJ"Q/]/H*L_;7_P"?2?/^[1YU[)]RV6/W MD;/Z"@"Y15,17S?>N43_`'4S_.CR+P=+P'ZQB@"Y15/;?IR)(I?9AC^5`N;K M.TV9S[.,4`69)8XEW2NJ+D#+'`S3L@$#/7I7/>,!#]EMFF=`5DRJR#Y'Z9!/ M;CO]:?.L9N-*NI#+"C0N#&7.(U\LD_C[^U'0#>!#="#VXI-ZXSN&,XSGO7/Z M+/IRPW$L4\$,,P"I#'(-RA5/S-CHQ`)_"LW&ES6$\DAZ`CL\C.,C/I2UR6CMNUN&4@+(Y8-&W^N4>6O+GNO'''4BNMI@ M%%%%(`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BFNZQHSR,%11DLQP`*9%?WFXC^Z,U!)K5M&0"K@GH"`,_K0!I45D7.J728\NT"`_Q2DX_+%5 MSJE\@_UMG)_P%QB@#?HKDCKC%CG68%!^\/D&/IU-6XM80Q@KKED0!SO=0?Y4 M`=%48"N9O==LQ;[I=961#_#"/G)^@QQ]36')X@TQ6/DVMQ< M$]WPN?\`T*@#O;:^MKII%@E#F/[V*274+6+.Z4$^B\UQ=CK%O?3&%E_L]HT+ M,TK[@5')QP.>X'>I#XJ;>T6BZ4;A(Q\TKJ68CN2!T'XT`=&^O0KR%4J?^F@S M^56HM2C<*TB/&K_=ND;;@CD+M`]^<9_2M;2;B>?30]G; M+4C0YV?B?Z5GZOJ^B:5#E-EW.3@1QRY_,]J`++30UC$OW)!;N< M`]\GC\3Q6GX>\-3PW#:AK$GG7+@XB)#!<\'/8G'&!P*`--M=C$"O]DN&FQCWEFW?HM:R:+I<;[TTZU#>OE+_A5Y5"J%4``=@* M`.)NH?%EY(&:Z\E,Y"P!E`_3)_$TRQ\-2RW0N=;:ZNW'\&UB#]6/./;%=U10 M!R6K^'+._M]MGI[VDZG*NB8!]B.],MO$PTBT%EJ,XFN8NPJ" M>SM;EU>>VAE=/NL\88K],T`<>_B'4]6N?L=C9.2XYWC:H'J?;\:W+?PU9K"G MVA(WEQ\Q2-57/L,9_6MNB@"DNEVJJ%"M@=/F/%+_`&=$.DDP^CUX^K'-3>1%C'E)C_=%244`1K!"ARL2*?4*!3R`1@@$>AI:*`&+'&ARJ*I M]0*?110`4444`%%%%`!1110`4444`,DC25=LBAER#@CN#D4^BB@!C1H[(S+D MHK()- M,G5DD<%>1$,MUZ@=_7%8NE6[S:7IG-5S`Q)E%G-]E,9C$?DG/F>6%SM MQD<\9KKB`<9`.#GFEH'?6YSNE6\\>H1++$XFC:1I9"IPRD+M^;H>GZ5:UK5/ ML,@07-O%\FXB1P&QD\X/)''8&MBLC5O#EAK%W'??\))8)RL=Y(>RL47]<&I1KUU.%%CX M?D8@9)8O)D?@!7<1V5I"Y>*UA1R<[EC`-6*`//3J=Y(?E\-2-)SG<)6_2G13 MZ]=R>7INCBQ8\-*4((^C/T_"O0**`.(_X0S4[Q@VIZKYG^9%/_`+)77T4`B@#GH?".E0SB462OCHKS,R_ECFMB"W6V&+>UMXAZ)\O\A5FB@#EO$GA6 M36;R*YA>*!\;92",'G%<7`NO^$?.5+9;BQW[BWWACUXY7CU':O0**`."+ZY MXQ3@_7^\?TK:TWPA8:?*DQA^T2IR&EDR`?7`&*Z.B@"/,O]Q/^ M^S_A1F7^XG_?9_PJ2B@"/,O]Q/\`OL_X49E_N)_WV?\`"I**`(\R_P!Q/^^S M_A1F7^XG_?9_PJ2B@"/,O]Q/^^S_`(49E_N)_P!]G_"I**`(\R_W$_[[/^%& M9?[B?]]G_"I**`(\R_W$_P"^S_A1F7^XG_?9_P`*DHH`CS+_`'$_[[/^%&9? M[B?]]G_"I**`(\R_W$_[[/\`A1F7^XG_`'V?\*DHH`CS+_<3_OL_X49E_N)_ MWV?\*DHH`CS+_<3_`+[/^%&9?[B?]]G_``J2B@"/,O\`<3_OL_X49E_N)_WV M?\*DHH`CS+_<3_OL_P"%&9?[B?\`?9_PJ2B@"/,O]Q/^^S_A1F7^XG_?9_PJ M2B@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`***0D`@$@9Z>]`"T444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`5S/B5HH]7TZ23]XRN,1$E2>O*D=\XX^E M=-3&C1V1F4$H(IH)9'C9A*@9660L0$;)ZYZ<#I MTJF7M]A42_Z!L+*V\X\[RP>#ZYY^OO78O%&XPR`C<&_$=#3MHQC`QG/2CH.^ MMSF])=VU2,R,?M9,@N%SR$`7;D=NV/J:Z6DP,YQSZU7N-/LKN027-G;S.!@- M)$K$#TR10(LT51_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99 M_P#?A?\`"C^Q=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG M_P!^%_PH`O451_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z! MEG_WX7_"C^Q=*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\` MWX7_``H`O451_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@ M99_]^%_PH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A M?\*`+U%4?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG M_P!^%_PH_L72O^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_] M^%_PH`O451_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#? MA?\`"C^Q=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^ M%_PH`O451_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_W MX7_"C^Q=*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_ M``H`O451_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_] M^%_PH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*` M+U%4?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"]1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%87B!XDGMF\S%PC*R*202N\9V=BW]* MW:0@$C(!QTH`X^)R;MYRY6ZEF$D74GRF5B3@=1CT]!6MX9*+!-#$T,J)L_?P M@@.2O.@K:"@8P`,#`H``&``*%H#U%HHHH`****`"N>U.XLXM:#?:% M2X@7S7+R@':%.$4=\]3_`/JKH:0@$8(R#0!R%A''"2EUEY5$INDW'.P`%PZ?A5[`SG'-+0`4444`%%%%`!1110!R]Y M-;G4KS[)<*+@*T3AI?GD=\*`%_NK_/\`&J4>Q+=%#J454^UH\A56<.1M8_PG MZ^@KM"`>HS2%5(((&#UXZT`4M#:5M'M6FSO*=SGCMS],5?I*6A@%%%%`!111 M0`E.GTQ71444`%%%%`!1110`54U1X(]-G>Z=D@"_.5.#CT M_'I5NB@#G=)1;AT2&=-B1R2#R9`XA+G"J#R,@!OSJM9-$ESIFR4M."%=68[R MI#8QV*]S[BNJP,YQSZT8&120?W;`<'!Y(Q6#X(T>_P!)^V_;H/*\WR]GSJV<;L]"?45;&DW(TBYC MWS&65WQ%Y@V@&3.1Z<>]`&_44ES#$[*[@,J&0C'11U-3+;VK)"^%M MRYQG!'\Z4S1B=8"W[UE+A?8$`G]17+QZ+?X=I(6WHH,/[T<-N7ISZ`UHZSIL M][JEDZQ;[=!B7Y@.-P..N3TI]A=S;HKE(=+U%9X@87SY31EWD!"##`8(;(ZC MC!'?BG+IFH7=PKRP21*L>%WR#AQ'@'`)_BH`Z>1UCC:1SA5!)/H!5*YUBQM# M&)YBOFJ&3$;-D'IT%<['I-^+=EFMIIH2"/(WJIW[<;_O8QGOGWQ6U>6ERVG6 M*0Q[I82I9=^,80CK]2.E`&JK!T#+T89%07M_;6"HUS(4#G:N%+$G&>@!KF(M M*U/R&5+:2/YPX_>*F5VX=H6=Q)HUI"DV,) M;2G;(SQLSJ9!EP?F.X`'&>1GTI\NC7*6FTVA[#6YU4;K)&KH,\CVS5"2RF2_56TZ<03,YAM_.!/"=?O8'/. M,\4`=?/-';Q-+,VU%ZFJ]YJ=G8R+'6S#;2M1D#)Y+>>2?,E60!70@80<]OIQCWI;G1[H-)&+1Y M8=Y^SJL@Q%\X.>3TQ_+WHZAT.G6:-IWA5LR(`S+Z`YQ_(T2S1P[/,;;O8(ON M3T%9%_IL]UJ+L8MT#O!N^8#*KOW=_<5F_P!DZCB)6@@VFB\O[:R"_:)-F[.`%+$XZG`YQ[UGV%C%&+/!J27D5J]RIA,15"H*G((/S$<>M`#TUK3GG\E;E2^<`[3M M)QGAL8/'O1_;-G]IB@5G9I45U8(=NUB`#GZD#\:H6>CSO%,UX6C/G>:EM$5\ MK.T8/3/7MGMTJY9Z5#]FLGN8?])@@1/OGC&#C@X/(_2A`:=%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%8\>O1*B_:(Y-Q9LF-?I6Q68=$MBCKOEPRE3R.[[_3U_2@.@UM>M@VU8;ERV2FV/(=1U8>PIC> M([,%BL=PZ#)WK'E2``21SV!!I3H*!E*7MTFP%8P"N$4]5`Q^IYX%/70;1(3$ MC2JFV10`1P'`![>@&*$!+%J]I-J!LT9O,!(!QP2!D@?2J%GK8,/M!))Q5V#1X+?4&NT9\DEMF%QN/4YQD_3.*D.FPG3I++<_EN6.[( MW`EBW''J:`()==M(KAH2DS%&(=E3(7D#)]LD4ZSU47NHM!%&PA$6]9&7&_YL M9'M4::#`!-YD\\CS#YV)4$_,&[#U%3V6EQV4YD2:5P$V(C8VHN2JR` MFF:W'-+HUY';`F9HF"@=3QTKG;"[T66'3[>WM#)>1Q')C0J82%^8MT[_`%I7 MW'8ZR&:*XB66"1)8VZ.C!@?Q%25YZE]);^'M+@CN)H"T@''O0]`.EHKG-+$FH6X9I9HS!:+%Y@/S;CRQR M1W`7GKS51WEFT*R6)GW6]EYS%>H)^4'\M_Y4`==17$7/V87MP8+JV%E"A:"* M4,R2-M7<%(8#/3N>2>*Z87EV$39I.E`&C17)+=6@N;B?3 M[E-Z(Z?-,#)<2,0!\N?N@]#_`$JOJ8LH/,M[.ZV7%LNV23S@'/R[?+4=<=SQ MQ]>@,[6BN4TL^9.+!'B>,W*RY@8F+:J@_+G_`&MN?K3Y8BMOJD$MZ57[9&&F MG!88PAP=N,#MV'TH_K\A'445S=C+M.GO"D8_TJ2#=%G9*F"2PR3QE1W/2NDH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"I>:G9V,T$5U. M(WG;;&""=Q_#IU[U;KC-9TO4]:U.]EB@C6*%!#$9]RDX.XLG'/(QFDNX]6N% MMY8(+B-M1A6"Y!1AY3`@%R.V1FA:@SM**X6ZL;^+7655N`RRH+:1(V;$8'3. MX*!ZYJ1M/FBTO4;M[2YDN9+ET`)<8BW`YP.H^E`';45Y]'!=16HBG@NOL7VT M%H51T+H1_"I.2,]LYJFL5W-).5BN6L5N)%$;*[E&P,`A2#G&`,GK0!Z;52TU M.SO;B>"VG$DMN=LB@$;3^/7IVJE#+=V?A=9&2>>[2'A2F7+=L@9]LUS^G:7J MNC75K<26Z.DT;12_9PS/\V2&<8['O[4/1L%JCN**XG2M.N[U#`[6J][>V]A;FXNI/+ MB!`+8)Y)P.E<.K:C]BTZ%;&_>6U2=9OD=15EFSL M3NV!DU*S!5+,<`#)KS^*QFCU*UNWL;U[,2R"W0[]ZKC*`\Y`SZU8\/P7:ZIY MAM;B))+>19`8Y,;^P8L3D^_%'0?4ZZ+4K273CJ$U5K3Q# MI=Y<1P0769)/N!HW7=]"0!6=I]K<)X#>W>"59_(D'E%"&R2V!CK6=!INHVTN MF23BYN8Q!B%=G_'M+MXW`#I[FAZ-B6QV7-I MIA11&Y/FYY^G.31_7YA_7Y'>T5R%GIAZ M==6UQHMP8;I)7$PNB^_@<[0P/3VI]0Z'9T444@"BBB@`HHHH`*0*`20`">IQ MUI'=8T9Y&"HHR68X`%1)>VLB1.EQ$5F_U9WCY_IZT`3%0<9`.#D9[4A56()4 M$CID=*1)8Y&=8Y$9D.&"L"5/H?2F?:[;R_,^T1;-VW=O&,^F?6@"3:I8-M&X M<`XYI::)8VE:(2(9%&2@89`^E#2(APSJI]SB@!RJ%`"@`#L*BBMHHC+L7B5] M[#MGU_2G>=%_SU3_`+Z%'G1?\]4_[Z%`#P`,X`&>M&!G.!GUIGG1?\]4_P"^ MA1YT7_/5/^^A0`[:N`-HP.1QTIU1^=%_SU3_`+Z%'G1?\]4_[Z%`#R`>H!HI MGG1?\]4_[Z%'G1?\]4_[Z%`#@BKC"@8Z8%*0",$9!IGG1?\`/5/^^A1YT7_/ M5/\`OH4`(UO&T\O'X5+4?G1?\]4_[Z%'G1?\`/5/^^A0!)14? MG1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\ M]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[ MZ%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G M1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\` M/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^ M^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0! M)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14?G1?\]4_[Z%'G1?\`/5/^^A0!)14? MG1?\]4_[Z%'G1?\`/5/^^A0!)1110`4444`%%%%`!1110`45STEYJ5W>WQM; MR"TALI%CV3("K]R6;J!]*;-K\UG+?&5%F$3R?R-`'1T5SR^* MHFN+2,6KJMRBL&D<)U],\''UJQIFOIJ&I36?V06D-E(L> MR9`5?N2S=0/I70*L6UI=!#&;4N=N"TC`#)/''.>!0!OT5S_A[4+ZXNI(=3D=9_+$@A:$+A2<9# M`G/IR!10%S4U9!)IDZLDC@KR(AENO4#OZXKF[$";3[&&6RD3>!FXCMG/R`@C MH#AB>Y[#/I77T``#`X%"#H:6@=];G.Z5;SQZA$LL3B:-I&E MD*G#*0NWYNAZ?I71444""BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`P+^#1[B^>6YM9&E#8?:Q" MOMZ9`.#^--G31[B1I'MIQ(S[RR.5.<8[-QQQBM;^T+;^T18!]UQL+E1_"!CK M[\TV;4[:WEGCG+1F&,2' M]2VQTJUNOM$,$XD&=N6)"9Y.T%L#/M6Q%=12,B;PDS*'\IF&\#W%-^WV>"?M M<&`=I_>#@^E`&/=QZ->7)N)[65I#C=AB`^.FX`X/XUH?VQ;CHDOY#_&M"EH` MSO[8M_[DOY#_`!H_MBW_`+DOY#_&M&B@#._MBW_N2_D/\:/[8M_[DOY#_&M& MB@#._MBW_N2_D/\`&C^V+?\`N2_D/\:T:*`,[^V+?^Y+^0_QH_MBW_N2_D/\ M:T:*`,[^V+?^Y+^0_P`:/[8M_P"Y+^0_QK1HH`SO[8M_[DOY#_&C^V+?^Y+^ M0_QK1HH`SO[8M_[DOY#_`!H_MBW_`+DOY#_&M&B@#._MBW_N2_D/\:/[8M_[ MDOY#_&M&B@#FY;?19;B:X:VN!--G>RRL,Y&.F[%.DBT:6Y2X:UG\U%5%99&7 M`'08#8K=>>-9#'G,FPOL'4@57L]22\N98%@GB>(`MYB`8ST[]:$!C_9=$\QW M^RS98YQN.!R"<#.!DCG%79+O3Y;E;F2"1I50Q@G^Z>HQG%3?VU:J\@D$L:HK M.'=,!PIP=OKR:;)KEO#%OE@N(R&(*,F&`"[B>N,8]*`*M@VE:<[O:V\RLPVY M)W8'H,G@>U%;%O; M!8K@\<#UVG\*M/!=%V*WFU2>!Y0.*3[/=_\`/[_Y"%`&/+H-TVIRSK(A1IC, MKLYX^7&"N.?SZ=J@L/#EVFKVMW="W,42;63?N)(!`(`0`#GIVK?^SW?_`#^_ M^0A1]GN_^?W_`,A"A:`]2U2U4^SW?_/[_P"0A1]GN_\`G]_\A"@"W153[/=_ M\_O_`)"%'V>[_P"?W_R$*`+=%5/L]W_S^_\`D(4?9[O_`)_?_(0H`MT54^SW M?_/[_P"0A1]GN_\`G]_\A"@"W153[/=_\_O_`)"%'V>[_P"?W_R$*`+=%5/L M]W_S^_\`D(4?9[O_`)_?_(0H`MT54^SW?_/[_P"0A1]GN_\`G]_\A"@"W153 M[/=_\_O_`)"%'V>[_P"?W_R$*`+=%5/L]W_S^_\`D(4?9[O_`)_?_(0H`A;2 M(&U47Y9]P7&W>V,Y!SU]NF,4ZQM9[2"0L(Y+B:9I'.X@8)XYQV7'Y5)]GN_^ M?W_R$*/L]W_S^_\`D(4`9-[HMWJ$TS2^1$QC9#)&S?O>05!7^$#`[FI8M(=; M2ZW6EJC2,&A@4[HXF`QNZ#KU/%:/V>[_`.?W_P`A"C[/=_\`/[_Y"%`%/3-/ MO+*[D4S$VH4AXWG>VU51=Q-/;4+59H(O.7S)U+QKW*@9S]*S_$T$TUK"8+9 MY720$-&V'C.1@CG_`#Q3Y[*XE:QE>-'G2-EG<$#)*$=>N,GMZTNC&7;:_M[J M%IHC((E&[>\3(".N1N`R/I5?^W+'RO,WR8SC;Y3;L8SG;C.,,#&>,] M>IIOK82.AAU"VGN#!$SNPZLL3%!P#][&WH1WJU7.Z7IMQ9WL"B!XO+'[Z;S< MI*NP``#/7(';C'O714V`4444@.?EN)X-6>XF=I+9K@0HL-QDJ=O0Q@<\Y[YY MZ4Z\N;S[1$UFTB)?'R0LZE3"PR=P!_V0>/4"KK/I<=ZT[)$+D?*9/*^;TZXI M[WU@[(SLK%#N4E"=IZ9''%`&8-G7BM1I-):Y-PT<)F(P9#%\WIUQ38/[%MI!) M!!;QR+G#K!@C\<4+S!^1J4M5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PH`MT54_M M*T_Y[?\`CI_PH_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/\`GM_XZ?\` M"@"W153^TK3_`)[?^.G_``H_M*T_Y[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/ M^>W_`(Z?\*`+=%5/[2M/^>W_`(Z?\*/[2M/^>W_CI_PH`MT54_M*T_Y[?^.G M_"C^TK3_`)[?^.G_``H`MT54_M*T_P">W_CI_P`*/[2M/^>W_CI_PH`MT54_ MM*T_Y[?^.G_"C^TK3_GM_P".G_"@"G<:G=0:L839R-;K"7+*5)(!'S`9S^'6 MH=`U"6]O+T3N^X['6,HP$8(ZW_CI_P`*B:ZTURQ?RV+$ M%LQDY(Z$\=J$!E7;7$$FHSVUW<>7:IL^>3<-[8)./10116?F)ZYXYJ-)=*CMS;QK&D).2BQD`_I M0!%I&I">65)O-$SDOAQ\J@8&T>A`*Y]R:*G2XTR.X>=-BRR<,X0Y/Z44Q._0 MEU4N--G\N80N5P'+;<<^O;TS6/IEQ.^FZ6T=Q*%$PCE63YF8XSC=_=_7IZ5T M,D:2QM'(BNC##*PR"*BM[*VMK>*"&%%CBY08Z'U^OO20^ACV=UM5# M-"\BR,54#6,;O7%'0?4R=+O+B>^ADEE(GY5"@$$#M_]>MUF*G`1F]QC_&F);0)3_F/\:DHH`C\QO^>3_F/\:/ M,;_GD_YC_&I**`(_,;_GD_YC_&CS&_YY/^8_QJ2B@"/S&_YY/^8_QH\QO^>3 M_F/\:DHH`C\QO^>3_F/\:/,;_GD_YC_&I**`(_,;_GD_YC_&CS&_YY/^8_QJ M2B@"/S&_YY/^8_QH\QO^>3_F/\:DHH`C\QO^>3_F/\:/,;_GD_YC_&I**`(_ M,;_GD_YC_&CS&_YY/^8_QJ2B@"/S&_YY/^8_QH\QO^>3_F/\:DHH`C\QO^>3 M_F/\:/,;_GD_YC_&I**`(_,;_GD_YC_&CS&_YY/^8_QJ2B@"/S&_YY/^8_QH M\QO^>3_F/\:DHH`C\QO^>3_F/\:/,;_GD_YC_&I*ANKF*T@::9L*OYD^@H`= MYC?\\G_,?XT>8W_/)_S'^-9R7NIE!+_9ZE&&0HDPV.U*+;4KKYY[K[,.T<0S MCZF@"U+?0P$B5@A'4,Z@_P`ZIMK0G/E:="T\Q]1A0/!DT`5K.^6\BWQQ2`J=K*<94^G6I_ M,;_GD_YC_&J5S83+-E51DDE<#]:H#59[@$V-C)*O02.0H)_K2G1+<\&:Y,>03&9/E/UK M250JA5`"@8`':@#(73'N&,NI"2>0]$5@J*/07#G);2:0(DV/Y9I]SI$\S:>?M`!MXG227)W MDLFW)H6M?/2QO&4GY0(Q\RXSN M!SC&/QJMI^BWFF/-:"59K:[)0D+@HHC(W'``SG`_R:J1>'-6ALWMX7LXXY"B MRH'90ZJ,9X'5N_TH`V[77K>ZOH[>.*<+*#YW%,O=/>ZOHY=RK&()8F]J9TK.HW=R"J^?;B(./OAN3 M^[01D>;RW!Y!*?*.>F,]>:`.J%Q`9%C$T9=AE5##)'J!4M8NA:/+ISE[CR7< M0QQJRY)&W.>H]Q6U0P"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`C:>))/+9P'V%]O?:.]5['48KUW1(Y8W50^V5=I*G."/;@U#)H\+ZG]O5F$@ M0@`NV-V00>O3CITJ*PLKR"\GNGBMT>555T25BKL#R_(XX/`_6A`R5-9MY)7C MCBG8C=LPG^LVG#;>>Q^E1'Q#:K&[O#O8=:@L=(NK6_,X$*L M!)NE#DFS1([4Q137"+D,XR/,/5N?BBBD, M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHIDDL<(!ED5`3@%CC)H`?12'@9-5)M5L8'V27*;O15/\`GHYV*?IGK2)97%[,LNI;!&G*6Z\C/JQ[T`7X[B&4 MXBFC<_[+`U+6=<:1;NH:V46\ZG*2(,8/TJ(:M+;IY5Y:R_:!\J[%RLA]C0!K M55N=0M;5299D!'\(.6/X54=M3O<1>0+)#]Z3>&./08Z&K5KIMI:[3%"N]?XV M&6_.@"JC:G>_O4=;.+^!63GARAO MK;<.H\UAD8+GZ5E>(?#5MK2&08ANP/EE`^][,._\`.L/3 M?!]Y>7)EU^9V6-0B*LFXL![]A0!OWOBC2;6U>9;N*=EZ1QL"S'_/>N?74/%' MB)2UC&+.T?@.#MX_WCR?J!6RO@S1%D5OL[D#^$R'!^M;OR11@?*B*,`=`!0! MSND>#;&S0O?`7D[=2P^4?0?U/Z5N6FGV=EN-I:PPENI1`":YXH`T**S[&_GG:XCGM@DT*JQ2-]V=PR!G`^:J< MNMW4,4YELX4>`*TA,^$4$$@$XSN[8QW%`&Y161::T;G5/L?D!.#P7^=<*#EE MQP#G`.>HK7H`****`*KP71=BMYM4G@>4#BD^SW?_`#^_^0A5NB@"I]GN_P#G M]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN M_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@" MI]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5 MNB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_ M^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_ M`#^_^0A5NB@"I]GN_P#G]_\`(0H^SW?_`#^_^0A5NB@"I]GN_P#G]_\`(0H^ MSW?_`#^_^0A5NB@"I]GN_P#G]_\`(0HJW10`4444`%%%%`!1110`4444`%%% M%`!1110`44C$*"6(`'4FH5O+5ONW,)QZ.*`)Z*HG6-/!(^TJ2#C@$_TJ1=1M M&7<)ACW!%`%JBJ,NJVL<>X,TA_NHIS^M4I=>%^X1&&5]JS[[QK%&Y2,DXZ^6H./Q/]*`.RHKAE\0031B5[^.,]]V]F^F` M*W]+GEN[)+BVN"[C[\;G(/T],T`;5-=E12SL%4=23@"LFYU*>4"&S1DFS^\. MW<5'L.]4;UI+>$3ZK-(]LAY5\1ACVX')^E`&PVL6`1V^TJ=G4#J?IZUD:A>V MIECN-:8VULP*P0D$LQ[L0.G^?QSIO%^FHRM%;QDQ_?%^=$5!1Y9\+M[8Z5&VO>'=.!2.XAR M>HA4OG\0/ZU2/@:RV\'G_>:IX?!FGQ-N"H3_`+2EA^IH`IR^.?,E,>FZ9+<` M=R<''T`-5I)?$/BB1(1"^GV>3?@<4`<=>Z!JOAR(7^GW\EPL9W2)M(X]2,G(]:Z?1M?M-4TTW1D2%H MQ^^1FQL/^'O5K[#D'==7)S_MUFS^&EWK]BNOLJ?Q!858GZ'M^1H`M7NLQ16A MEM`+B0CY1G:OU)/:N:NU\4ZA$8WN42&3DB)2,@]L@9Q^-=#%X;L$O5NI#-.Z M0X_2E_XF'_`$[?^/5;HH`I_P#$P;C]PGOR:/*OAR+B-CZ% M,"KE%`%,I?OP9((QZH"3^M'V2;O>2?D*N44`4Q8GO=W.?9\4?V>O_/>XSZ[Z MN44`4_L+?\_=QC_?I5TZWSEPTA]78FK=%`$2V\*_=AC'_`12^3%_SS3_`+Y% M244`0/:6\@PT*?@,5$-.A'W7E"_W0_%7**`,W6["?4+58K>=8_F&]77D7L5H8%O8&))WDVY_>9');+G)[CI6U10!CV.AFSN8F%P'AA)9`4 M^O;KN]NV#6I=0"YMWA+NFX?>0X(]Q5.QTB M.TLK>`R.[1.)2_`W-C'Y4(.A%::O)(LLL\:"+R3<1[,YV@D8/OP/SJN=9O1F M'RH/M(4R]]I3;NQ]>WZ^U6UT98E=8IY"'PF'P0L>[)0<=\GGKT]*;_8,)CP; MFX\SH9F(AFUR-'VQVTTG^T-H'ZG/Z5!-XEMXF`953(Z22`-^0S5^'2=/@3;'9 MP_5EW$_4GDU(+"S",@M(`K=5\L8/Z4@,E?$]N%+.$4=B7P*B;Q9`WRPJK/U/ MEAI1C_@(K732=-1]Z:?:*W7(A4'^56?(B_YY)_WR*`.4G\7%CB/(]A&<_P`C M4(UZ_O7V6$-S/)Z+D`?4X`%=CY,7_/)/^^11Y,7_`#R3_OD4`3%_P`\D_[Y%'DQ M?\\D_P"^10!QOB7PO=/?I/HL"I'*FR5$(0+VSCTQZ>E;NC^&[#3+,1-!'/*P MQ))(H;=Z@9Z#VK5\F+_GDG_?(H\F+_GDG_?(H`Q+CP?HTJ2>7:>7(RD*P=L* M3T.,XXKD]*O[;2I'L-:MIP\;X#H<%1Z$=QWS7H_DQ?\`/)/^^14-UIUE>0F* MYMHI$/8KT^AZB@#D9O$323?V?X5M-SMUF*9)]QGM[M4D/A'4K^:.37-1,L:G M/E*Y8^XR>!^%=/8Z38:?%Y=I:QQJ3D\9)^I/-6?)B_YY)_WR*`*D>BZ7$$": M?:C9]TF($C\:O4SR8O\`GDG_`'R*/)B_YY)_WR*`)**C\F+_`)Y)_P!\BCR8 MO^>2?]\B@"2BH_)B_P">2?\`?(H\F+_GDG_?(H`DHJ/R8O\`GDG_`'R*/)B_ MYY)_WR*`)**C\F+_`)Y)_P!\BCR8O^>2?]\B@"2BH_)B_P">2?\`?(H\F+_G MDG_?(H`DHJ/R8O\`GDG_`'R*/)B_YY)_WR*`)**C\F+_`)Y)_P!\BCR8O^>2 M?]\B@"2BH_)B_P">2?\`?(H\F+_GDG_?(H`DHJ/R8O\`GDG_`'R*/)B_YY)_ MWR*`)**C\F+_`)Y)_P!\BCR8O^>2?]\B@"2BH_)B_P">2?\`?(H\F+_GDG_? M(H`DHJ/R8O\`GDG_`'R*/)B_YY)_WR*`)****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`K,U#5'M-2M+. M*W\UISR2X4@<],]>G^8O,'W-N[=GZ=O6E.EW.9" MTT4I=/(&(MF(RV6S@\M@\?RYJ,Z'.1YGVQ/M!7RR_E?+LV[<8SU[YSUHZ#ZE MJUU9+J[$21$1/N$HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/F MZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H M\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C M=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\` M@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_ M`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;J MO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS M=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T M`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"! M;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\` MP+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_ M\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U M7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0! M>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#` MMO\`XW0!>HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"J-_J M!LIH5,!=)&"E]P&"2``!W/.<>@J]6?J6GRWS(HG5(AC$C53T"2A^V><=#[53CT)T90+ MD!#M>0"/):0`C().,E7-.LI+5II)Y4DEEV@E$V+A1@<9/-"!EZBBB@` MHHHH`*HW&H-!>QPM;-Y+L$\W=CYB">!W'')J]67>:==7%X\Z7404QF.-'A+& M/(Y(.X5QD=..#^AJ]IMVU]:+<-#Y6XD`;MV M0#C.?0U2BT1HG81W`6(!_*4)RC.,$DYYQVZ=:T[>%;>VBA3[L:!1^`Q0!+11 M10`4444`%%%%`&9/JQM[B1)K9TC5'9'+??V`$\=ASP:KQ:^TB)_H9$LVWR5\ MP8<$D.#GZUJ5E0:5<)/OGNHI@9 MA*Y$)5FQG:"=Q&!QCCM1U#H..LI]B-S]GFQYWE!"I!ZXR?0?6M2J+:=NM)X/ M-_ULIEW;>GS`XZ^U7J`"BBB@`HHHH`*BN)6A@>1(FE91PB]6-2U!>12S6LD4 M$WD2.,+)MW;??&10!3AU;S-H>W97'F>8JG=MV8!Q@?-R13;?63/-:J;5D2Y' MRLSC.<$].X&.3VS4NGZ>]I(&D>)@D0C01QE`!DD]6/)X[]J@BT>5);;==*\- MNP<#RL,",\`YX!SSUZ4`:]%%%`!1110`4UVV(S;2V!G`&2:=39`S1L$8*Y!" ML1G!]<4,#,362`5FM'259`AC!W'!4MV')P.E,_MU6:R40JK72[MLDP0KR!CG MJ>>@]*DL-+FMI(FGN(IO+WME8BK,[8^9B6.3U_.F2:/*UM%;+2JH3N],4!8Z.BN=M?$$H3 M$D+3;?FD?<%VC('`[\FK>IZG-9:G;0QQ^:)D("9"Y;M")MJNHC0Y)4L3S]/I0!NT5S\ M/B4&W#-;ER'6(E)`P+,,KSTY/'H*EU;4W\R"&RN&63S2DPAC$C+\I.,'W%`& MW17/'Q$UK&%FMWD(8QAW8(7*C+$@#CJ./6K/_"00'4(;58G(D"98\$%AD,72>9(9&1BQ$;@!L#*>N"#Z>]2OKUQ):RO!8-N$;2 M#]X,A02`V._(/'H*&!O45SZ>)`A$09!06X,`P/\`6GH/ MQS^E-M?$A_LBWN)8&EE8%6P0-S`#)_'-`'145B2ZX8Q$\D+HP>2-XE(;+#&! MGZD4P:W=)>2V[V3F4'_5F10%`7)(;'.:`-ZBN^>*`+]%%%`!115:_E>&SDDC. M&&,''N*`+-%8UA?7,UY''))E3G(VCT-3WDES-J"6=M<"W`A,K/L#$\X`YXQZ MT`:5%-I,%0H; M(W9'7[N[]*%J!OT444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!6;J.@Z;JDZSWMMYLBKL!WLO&2>Q'J:TJ*`*.FZ/8:3YGV&#RO-QO^=FSC.. MI/J:D6TM)+-K=%#0,Q)`8GG=D\Y]:M5RPAU!(\Q?:H_+#NJ("`S&8]1W^4]/ M2@.ALR:+82S-+)$[%F+8\UMH)ZD#.!FEFT>PG$GFP;O-)+'>P..1VK#: M6\\Q?-EU->'\_8C;5DYV!<#./IQTSUI/+UAXFDEEO5F*RDJF=H954J`,=SGZ MT(9NKH]@BNJP8#C#?.W(R#Z^H%#KIE[?1L989;J#.T++\R\\\`^HK.LI-2/B M!Q,TGE;FRI5MH3'RG.-O7T.>M,@L[RVTNYG3(E+R%46'$@'F$]>IR/YT=A&F MNC6*2*RQ-A>B^8Q7/(SC."<$\TD&DZ=;RX1-TNT\/*S';C;T)Z8XK'>34KB: MXGB:]6-"7A78RAOG&.".1C/%6M&6=M4>6X%R9?(*RF52%5M_121C&/2A`R[_ M`&'8&/84E/\`M><^[&,;#WJ6B@"E-I5I,I#(RDN M9"R2,IR>O(/0^E*=,M/M"3B,AD`P`Y"G'0D9P2*N44`%%%%`!1110!G?V%IO M_/M_X^W^-6)K&WGMDMW5O+CVE`KLI7'3!!S5FB@#-;0M/;&8I/\`:_?/E^<_ M,<3RPAI`RON) M/500#^IJNN@::N,0-M`P%\U]HX`X&>O`_*M.B@"G+I=E+NWPYW,S'YCU;J>O MM5-_#MF9XW3S%&6:4^:^Z0D8Y;.:V**`,TZ%IQ?<86QDD+YC!5SUP,X'05/= MZ;;7D@DG63<%*925TRIZ@[2,CZU;HH`SSHM@SEC"<'^`.P4'CD#.`>!TI9M& ML9G+O$V68LVV1EW$G/.#R,@'%7Z*`*TEC;23^>\>9,J=VX]5SC^9JO\`V)I^ MY3Y!PO\`#YC;2>>2,X/4]:T:*`,X:'I^S:\+2#G_`%DC-CC'<]AT]*T%`50! MG`&.3FEHH`****`"F2Q)-&8Y!E3U&:?10!6BL;:&021QX8=#N-)>6%O>E&F# MADR`T GRAPHIC 16 tf1_a0415x39x1.jpg begin 644 tf1_a0415x39x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M]@*I`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`KGM?\`$$VF7T4-O"DJ(HEN20240L!QSUKH:P9O"UI>7=W< MW[-<23GY""R>6N,`<'G\:!DNK>((+%9(X4DGG$!F&R,LJC'!;'05#I_B>VGT MM;FX#+,I1'C5.2S=-HST-0+X7N8X]L6I@&2W^S3,T&=R=L<\''%36_A:&&^L M;DW!;[-&JLFS`D900K=>,9H$.E\216E_=P7/S^7(D<4<49WDD9.U4[[PRUS<7DRW4?^DR*YCD@#*,#&,YS^(Q38/# M$UG%:O9W^RZMPX#O'N4JW;&>,?6A;#9;D\2V"QVSQK/.;D,8UBCW-QU!'J*7 M5M1NH[RTL+!8QZM;G[-=V^=DFW<"#U!%`BC+JFK67V.*]@MP\UVL!=N#5<>'IG^SO+P MK(FHK=-?*2LK2!C#EV![%B>W;C\*/Z_(/Z_,NV_B6QGAEF"7"0QH9/,>([6` M]"/Y5:TS58=35S#%/'MP?WJ;<@]"#T-8]IX4>WGFE-Y&K/$T8\JW"AL]V4DJ M?I@5:L)"O(T@15.,G)/3 MC'XF@:PC)'(L$K*]OYY"C+#)`48'KS^51&PNA9'O1P5`*D9! MX(S^-3:7I7]GQR(9?,+(J*<8PH'3\R32Z#ZD4NNQQ:?:W9A;$Z&0H&Y4`9_' MD@?C3)_$`MD*W%NL5P)1&4>8*HRNX'<>,8_6E&A`VBVTD^Y4M1`C!<$'.2V, M^R\>U/73;Q9'N!=P_:G<,Q,&4("[0`,Y'KD&F_(1HV\IFMXY2%&]0<*VX?@1 MUJ@-79+@QW-J\",DCHS,,D)U)';VI+;0+.&WCCU2MI=R]_)<27<3(X*(IA.Z)2,84[L`^^ M*@MM`>*:%WGBVQ[%*Q1;`ZID@MRIP1UJL_AJP:WO+=?,CANF5C&F`L9'=1CBA#*X.14T&B6T$S2AYF9K?[.=[YRO7.>N:!&;#XNA,LZ7%L8A'$TH*RK(2 M`<8('0^U/7Q0(V87MA);8MCE>';F2ZD;4TD$)M?L^V2<2,>>Q`&`,4?U^?_`#^OR_X)K:)K\6K32P M^4(I44/A95D!4^X[^HK*U'Q)/;^(Q&D\8L()$AF0[IO\`A&K0VUW" MT]RPNQ&)&++GY.F./;FI)_#]I.M\KR3`7I0R88<;>F./\:`(KGQ%';KJ3&W9 MA8E`?F^_N_E3+[Q*MEJ26LEKE&=4W^AY!HG\+VL]W+.;BY022+*45EQN'0\C/X4+I_VY56521@`#`QQQ2_R&9DWB6=;6<'3W@N? MLYN(`[A@Z^O'3'7%1OXIFLK"UDN[++O"LCDSHI;/=1WSUQVJ]!X;MHQ+YUQ< MW!>$P*TK@F-#V''ZU7/A"U9=KWMV!NQ76V&E0Z?/<31/(S MS[-^\C^$8&,"JS^';*2SN;9S*5N)S.6R-R.>ZG'%'4"G+XLAM[[[--`/W;+' M*XE4%7/7"]2`>]1VOB2ZCL;^[O;0[(+GRE"N..0-OX>O?-73X;M_MGV@75TN MXJTBAP/,8=R0,\]\=:5_#EL\%]`T\_E728?;BADPPXV],\M$C@_=IF*-R59N?O9[CUQ0!N45@V. MMW-Q<;7CA,23BW=TS\['.&7VZ4_4]9GLYY!%#&\<;I$=Q(.]QD'Z#C\Z`-NB ML$ZU)?[Z?]\'_`!HQ+_?3 M_O@_XT`245'B7^^G_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O M@_XT`245'B7^^G_?!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C M0!)14>)?[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0! M)14>)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1 MXE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE M_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G M_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245'B7^^G_? M!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)?[Z?]\'_& MC$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z?]\'_&C$ MO]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP?\:,2_WT M_P"^#_C0!)135W`?,03[#%.H`****`"BBB@`HHHH`I:KJ=MI-I]INBVS<%`4 M9))J2XO[:VM?M,LJ",KN7Y@"PQGCU-9^LZ1<:K>6Y^T+#;0HQX4,Q<\=",8Q MG\ZS'\.:A]GMXV-I_MKBU6X6550HKG%K^+46N$:V^:?S-VXD`;B>5*D$XZ8(Q5=1=#K!<0&5HA-&9$&60 M,,J/<4QKZU6WEG^T1M%$,NRL"%&,]JY^#PY=I=*6:V"1O*XF7/F2[P,<%O7MFIZ#ZCH_$=H\5%YP$D6TNGJOK6 MC'>6\CK<?F,H81EANQC/2L=K#6;JPN+6YDM(T-N846,DAF_O$D9`]JIOX< MOI-36=C:[%;.02N5V;<$!6K1O(MS"4CX=A(,+]3VJM-J]M'> M6ULN9&N1E'1EVXSCJ2,_AFN>A\+WR64\#?9]K;-J^8HZE#IR(TJ2R-(<(D2;F/&3563Q#8I'$ZB6031"1/+3).2`!CU)_D:?KUK MJ%Y9BWT^2*/><2EV*DKZ`@'K5!=+U2*WN#:?9+>X>.."+:[%8T4'.#C.(D8VD,BS2($N(LHIP&RZCGO4M[%+?0S1-"]N8COAG MW*?F'0@`Y_/L:+Z7`F^P_P#3U=?]_*/L/_3U=?\`?RN8?4KVW2&[$B))>0F= MG;:%./NQC=V`[#DYJ>77KL:@JB55!?8T3!1M.S/3.[KW.!0!T'V'_IZNO^_E M'V'_`*>KK_OY3='>>73()KF;S9)4$A.T+C(!QQ5VF]`6I4^P_P#3U=?]_*/L M/_3U=?\`?RK=%("I]A_Z>KK_`+^4?8?^GJZ_[^5;HH`J?8?^GJZ_[^4?8?\` MIZNO^_E6Z*`*GV'_`*>KK_OY1]A_Z>KK_OY5NB@"I]A_Z>KK_OY1]A_Z>KK_ M`+^5;HH`J?8?^GJZ_P"_E'V'_IZNO^_E6Z*`*GV'_IZNO^_E'V'_`*>KK_OY M5NB@"I]A_P"GJZ_[^4?8?^GJZ_[^5;HH`J?8?^GJZ_[^4?8?^GJZ_P"_E0:N M^HK]G^P(C`RKOR3G&?8'CU-8V^9=>0;HFNC=#>RRGSE-I'W1UST_&A:@S MH/L/_3U=?]_*/L/_`$]77_?RJ6HD2:AI-Q%.OYUE6T)O) M%@CG9;N99UNSDDK\WR[AGZ`>U`'1?8?^GJZ_[^5;KEK"Z^Q7T*2*)4),4)!V M@`R8.T=QD@>RKGO74T=+AY!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`44R618HGD?[J*6./05D1>(HF MTY[R>VFB4/M1<;M_T(X['/I0!M453AU!9[Z6UCAD/E':\F4V@X!Z;MW?TJO- MKEO!)()(I1&A9!(`,.ZC)4"$K&7E#,/,F M$8&,=SWYJQ?7AL[07#1%T4CS-IY1>[>^*`$-Z#C-I_E MU777;/S'WN$A!VI+DD28^\0`/NC@9Z5.VJV*W'D&X7S/H<9QG&>F<LI+JSV,:Q'8P4L9U#'Y0I'-`%G[=_TZW7_`'[I M/MH!)^R7.3U_=U%>ZF;.[CB:W+1NRKOW@$ECCY5ZMCOZ5!/K4UO-/'+8X$,1 ME9EE!P.@SQQG^AH`M_:D&W_0KCY?N_NNGTJ[6=I^J"_=52+&%)D(;(4ABH`. M.>V/ZT`:M%8]IKJW=W#;K M"J-(@IZ=O6G:AK:V,[H;=I$0JC.K#[[#*KC\N?>@#6HK'_`+=P M=K6S!HSBX&\?NANVY'KZ]N*V*`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHIK,J*6 M8@*!DD]J`'454AU*RF5F2YCPO7<=N/SI&U2Q568W41"]<-D_@.]`%RBH+6\@ MO(]\$@8#J.X^HJ>@`HHJ.:>&W4--*D8/0L<9H`DHK,?4I;J3RM,C$F/O3."$ M7_&JNHO/;6YDU74HK>W)P1$N&;V'>@#9EGB@`,TJ1@]"[`5F7VN0Q82U>*1_ MXF=PJ*/6/F*GE.ZD#=A@#Z^XK&L-&O5TV_@D$,+7#?)&C'8IW')' M'&>.`.PJ]INE1Z)I$UM!<.1\S^9)CY3CV[<5REG<77_"-WRPWLH>&4-*^_>) M`6Q\AZKD\G_Z]"W'T.DGL+J*_>\BM[8F)GD5DR'FRN`C7$H8RH1(V&?`QE>@Z/>H8[J2+Q2S7%V6MY'9$1;D[8]J`G9%]N:Z(<"N':XD33(;A-1F!27S(XC<99(BPY(_B/;:3_%7<#D4^@NHM%%%( M"AJ-E<7>1#<1QH\;1.KPA^#W!R"#^E26VG06L;+%ORR!"7=FS@>A./RJ2>V\ MYPWG31X&,(V!4?V'_IZNO^_E`&5-X:#P6L:3INA@\AB\9P1Z@!AS]P!]!6K]A_Z>KK_OY1]A_Z>KK_`+^4`265O]ELH+?= MO\J-4W8QG`QFIZJ?8?\`IZNO^_E'V'_IZNO^_E&X%NBJGV'_`*>KK_OY1]A_ MZ>KK_OY0!;HJI]A_Z>KK_OY1]A_Z>KK_`+^4`6Z*J?8?^GJZ_P"_E'V'_IZN MO^_E`%NBJGV'_IZNO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[^4?8?^GJZ_[^ M4`6Z*J?8?^GJZ_[^4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1]A_Z>KK_OY0!; MHJI]A_Z>KK_OY1]A_P"GJZ_[^4`%]IMK?^6;F)7,;!@2H)X/3D=#59]+E>Y0 MF>(6TKK_OY1]A_P"GJZ_[^4`5KW3+F]*+ M-=1&/Y2P\GE2#G*'/RY]\U:M;,03W4K/YC7$FX\8P```OZ?K2?8?^GJZ_P"_ ME'V'_IZNO^_E`&>=# M0!63%I4RZ^^H23AX]FU!MPPSG@GT&?Y>E:U%`&.FCS1F%?M*-#$RR!?*`8LN M<^^:6Y2(R;))%2/.)5&`0<_=Z<>W6MNB@#%.AR,Y=KI=TQ_ MTC$?WANW87GCT[ULL`PP<_@<4M%`$?E+ZO\`]]G_`!H\I?5_^^S_`(U)10!' MY2^K_P#?9_QH\I?5_P#OL_XU)10!'Y2^K_\`?9_QH\I?5_\`OL_XU)10!'Y2 M^K_]]G_&CRE]7_[[/^-244`1^4OJ_P#WV?\`&CRE]7_[[/\`C4E%`$?E+ZO_ M`-]G_&CRE]7_`.^S_C4E%`$?E+ZO_P!]G_&CRE]7_P"^S_C4E%`$?E+ZO_WV M?\:/*7U?_OL_XU)10!'Y2^K_`/?9_P`:/*7U?_OL_P"-244`1^4OJ_\`WV?\ M:/*7U?\`[[/^-244`1^4OJ__`'V?\:/*7U?_`+[/^-244`1^4OJ__?9_QH\I M?5_^^S_C4E%`$?E+ZO\`]]G_`!H\I?5_^^S_`(U)10!'Y2^K_P#?9_QH\I?5 M_P#OL_XU)10!'Y2^K_\`?9_QH\I?5_\`OL_XU7O-1AM&$>&EF;[L48RQJN^H M7DR^7;6$T@'XTZ# MP=>7MWY^O7_GA1A5C%.=2T9 M#)M!BV,R`KVX.>/>I'\5VV,1:&$N./*S(3S],`UW^U>.!QTXZ4I`)!(!(Z4` M<3I6MO>:B%^RM!?KD2PABHE`^IR&'I[?A70'5;W_`.J@ M#IL:L!N,5N0?X!*^1^.<5E7E_IFF.7UB4W-Z>?)C.[RQZ=<#\354'QPXW_*H M8<*?*&*N>'_"45L#=:LJW-XYW$.=RK_B?>@#(5]5\52B&RC:QTU3@D, M/L/_`*]:5MX!LHY5:>ZFF4')0`*&KK54*H50`!T`'2EH`IVNF65DNVUMUA!X M.S(S]?6K'E+ZO_WV?\:DHH`:J!01R0?4D_SJM!IEE;V[V\=K$(I&+.FP$,2< M\BK=%`%*YTNRN?.9[>,23)L>15&XCTS3WTVQDE>22S@=W7:S-&"6'H?6K5%` M%,:5IZ[`MC;*(VWH!$HVGU'%7***`"BBB@#)\1(QM(9%FD0)<1913@-EU'/> MLYI,:LS*6>_%[M$8;#&'9TQ_=]^F:Z">Y\EPODS29&4ETA,AAVOM1B MF]L'A21Z<')%=:@944,VY@,%L8R?6JHO0!@6ER![1TOV[_IUNO\`OW3`MT54 M^W?].MU_W[H^W?\`3K=?]^Z0%NBJGV[_`*=;K_OW1]N_Z=;K_OW0!;HJI]N_ MZ=;K_OW1]N_Z=;K_`+]T`6Z*J?;O^G6Z_P"_='V[_IUNO^_=`%NBJGV[_IUN MO^_='V[_`*=;K_OW0!;HJI]N_P"G6Z_[]T?;O^G6Z_[]T`6Z*J?;O^G6Z_[] MT?;O^G6Z_P"_=`%NBJGV[_IUNO\`OW1]N_Z=;K_OW0!!J[ZBOV?[`B,#*N_) M.<9]@>/4UG&XO&\26K75O-&HWQHJD%,;>6SG)Y]N@%;'V[_IUNO^_='V[_IU MNO\`OW0!AZK-"VIBZ2XMK@A(O*MV#%G!8\H00#U]#T[5#;0F\D6".=ENYEG6 M[.22OS?+N&?H![5T/VT$@FTNNIJE]J0;?]"N/E^[^ZZ?2KM'0`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHK+US5HM-M M'_>`3$<#^Z/6@#4HKE-,\1/<6Y$=Y:!5/^LNG",/J,\_6H;OQ#9!2+K6'F'> M*SBQG_@1P*`.LFN(;==TTJ1CU8XS5";68G7R[`&XG;H`I`7W)]*Y'^W?M-SM MTC3)KR7LUUF0J/\`='`^I-6);;Q;JT?V66*.T@<8`].^R>69IO/V_ZW(QN]=OI M[5E:9=KIEVVB^(D'EQ_ZF8D_(.W(_A/;T_D`=G/JME`75YU+)U5>3]*K`:C? M*TKS_88,<)M!;'J3VK#D\6:'91O%9VCRO%_JV*#:S>N2<_I5.TT/4?$N^_U6 M\:V23_5IMZK[#/`_GUH`GOM=6VN?L'AV/[5>2'#W)^GI:*O^](#1OOSTBA'U8T`7**I^;?#K;(WN'HS M?OT6&,>Y)-`%RBJ?V2X;_67C_P#`%"TOV$]KJY_[^4`6Z*I_8Y!RMY,#[G-& M+^/HT,H]2,&@"W3$FBD0M'(C*"02K`@$=:CD\PV,OVCABC9\K.0,=O>N/LDA MDT#4(XB-L+AO-A)42\G`8=B.N/I0@.WR-VW(SUQ1N&<9&>N*YY9].'B"219X M(6MR[3.\@WR,5Y4#KM4<_7Z5!=/I4NJW&Z2-1%N\\[_WDI*X*@`YV`/:@"W15,:K9$0G[0O[XX3@].>]7*`"BF22QPINE=47U8X%5O[5T_M>V['T60$G\!0!/8C%5&\2VX.!&<^ISC^5`&Y17 M.IKMS?EEL$R.F]86<`_[W2JS)XA:;?YC_F1^@&*`.KHKFDTW5KB<2S7,B_\` M`L8^F.GY5,=)U*$$VL\88]=\KC/Y"@#?JK-J5E`#YEU$".H#9/Y#FLYX^O?Z5=AT*W15WL6<=2JA0?PY_G0`Y=>L7N4A1V;?_%MP!]E9FOZ7+%IQFTM6\Z)@QC7DR+W`]^]9^A^'I-0/V[6XW MQG]U:OD`#U8?TH`TG\20N"T+Q;1W)+9_+BIM/UE[]&>&))53[P1N?PJ&\\(: M/=2F3[.82>HA;:/RZ"N;N9)/"&N/%"'^RR#=$2-W!ZCWY%`'P-`TI?:$& M6!ZC\*H-K)+>9U\R(!8D]L$@FL:]L;O6'$=H4 M^S!LR2!C))(?4XX^@_6NKL?#VGVMJ(984NW_`(Y)U#EC^/3Z5IQ11PQK'#&L M:+P%08`_"@#D9?"FD2.&6VU*,``;5Q@^_(-7K;1-(MB#'HTCL.\REL_@2171 MT4`48GFC4B#3@B^@=5_2G^?>?\^7_D45;HH`I^=?'I:H/J]4=3THZN@2\M+< ME?NN6(*_0BMJB@#"M/"]E#&B-%%A3D80%L_[QYK2&FVH'^JS[EC5NB@"LMC: MKTA7\>:#8VIZPK^%6:*`($L[:/[L*?B,_P`ZFZ4M%`!1110`4444`%%%%`!1 M110`4444`%%%%`!3$C2,$(H4$EB`.Y.2:?10`R2-)8VCD&Y&&"/44ZEHH`;M M4`#:,+TXZ4ZBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`K`M[2X_X2.[W6Q2TEC_>[B&23 M).",\@^HZ=?45OT4`6[QH]N0@D28N&7"!005Z]>GMS2:G9WE\7>WM7 M99WAN5+LHVA5Y0\\'I['[8*HD=Y2O\3.XS]0&`_2 MM>B@#)?P_8N^XP1@^V\#\@U*N@6"L&^S0''9D)'Y$X-:M%`$2HZ*%5HU4#`` M3`'ZTN)?[Z?]\'_&I**`(\2_WT_[X/\`C1B7^^G_`'P?\:DHH`CQ+_?3_O@_ MXT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&)?[Z?]\'_`!J2B@"/$O\`?3_O@_XU M'/;"Y39<)!*G]UXMP_4U8HH`Q+/PQI]E>&ZAAC\S.5W`D(?8$UKXE_OI_P!\ M'_&I**`(\2_WT_[X/^-&)?[Z?]\'_&I**`(\2_WT_P"^#_C1B7^^G_?!_P`: MDHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\`C1B7^^G_`'P?\:DH MH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&)?[Z?]\'_`!J2B@"/ M$O\`?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_O@_P"-&)?[Z?\`?!_QJ2B@"/$O M]]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/\`O@_XT8E_OI_WP?\`&I**`(\2_P!] M/^^#_C1B7^^G_?!_QJ2B@"/$O]]/^^#_`(T8E_OI_P!\'_&I**`(\2_WT_[X M/^-&)?[Z?]\'_&I**`&KN`^8@GV&*=110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444E`" MT4@(8`@@@]"*6@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"J.LA&T MJX$DAC0KRVTG`SW`[>OM5ZDZTGJ@1Q.@2Q+-:R*8"P*1"'+%@,,2ZDG&,YSP M1P>:LZ].K7,LBS'S"\7EE&ZP%3O(Q_#UR?I75I%&D:HB!55=J@#&!Z"A(TC1 M410JJ-J@#H/2FP.1+J)6"/\`NU8_8,-P3Y@!V^O^'M76SS16\32SRI%&O5W8 M*!^)I^T<<#CI[4V62.&,R2NJ(.K,<`?C1T#J5/[:TK_H)V?_`'_7_&C^VM*_ MZ"=G_P!_U_QJR]Q!&NYYHU&W=EF`X]?I0MS`\OEI-&TF,[0P)Q]*`*W]M:5_ MT$[/_O\`K_C1_;6E?]!.S_[_`*_XU>HH`H_VUI7_`$$[/_O^O^-']M:5_P!! M.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"-']M:5_T$[/\`[_K_`(U>IDLD<,9D ME=41>K,<`?C0!4_MK2O^@G9_]_U_QH_MK2O^@G9_]_U_QJPUU;J,M/$!QR7' M?I^=*MS`\QA6>-I1U0."P_"@"M_;6E?]!.S_`._Z_P"-']M:5_T$[/\`[_K_ M`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU>HH`H_VUI7_03L_^ M_P"O^-']M:5_T$[/_O\`K_C5ZB@"C_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^ MO^-6I)HHF19)$1G.%#,`6/MZTAN8`X0S1ABVT`L,D^GUH`K?VUI7_03L_P#O M^O\`C1_;6E?]!.S_`._Z_P"-6XI8YDWQ2)(N<95@1FGT`4?[:TK_`*"=G_W_ M`%_QH_MK2O\`H)V?_?\`7_&KU%`%'^VM*_Z"=G_W_7_&C^VM*_Z"=G_W_7_& MKU%`%'^VM*_Z"=G_`-_U_P`:/[:TK_H)V?\`W_7_`!J]49FB6983(@E89"%A MN(^E`%7^VM*_Z"=G_P!_U_QH_MK2O^@G9_\`?]?\:MI+'(<)(C<9X8'OC^=* MK*ZAD8,IZ$'(H`I_VUI7_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7J*`*/\` M;6E?]!.S_P"_Z_XT?VUI7_03L_\`O^O^-7J*`*/]M:5_T$[/_O\`K_C1_;6E M?]!.S_[_`*_XU>HH`H_VUI7_`$$[/_O^O^-']M:5_P!!.S_[_K_C5KSX?,:/ MS4\Q!N9=PRH]2*0W,"QM(TT810"6+#`!Z?#YC1^:GF(-S+N&5'J12&Y@6,R&:,(,$L6 M&!GIS0`EO=6]W&9+:>*9`<%HW#`'TR*FIJ.LB!T8,IY!4Y!IU`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`52U;9]CS)&[C<,,D>_RSV;;WQ5VB M@#E;>"86L$MQ;R".W:&-T\LDE5!).WKU9>.V/:G>';>:VND7RYU+EVF2:$*$ M7`V;6QD]AC/KP,5U%%`!1110`4444`%4-9<1V08VS7+!QL0(S@-V8A`7G2%Y-JA@=HV@X)(Z]A M67?6DTMJVZWF>2[A)CVQDE':3<>?X3@CKC[M==12L.YB>&XYE6Y>1-B,45`( MC']U<$[3S_\`JK;HHIO404444`%%%%`!6#J;(-3++:S`P@2F58';S6"G:H8# M``SS^7K6]10!BV.F""Z*,LF'LU21]SW*Q6TT+#=$K>0_[QGP&S'TK2FU-8[XVBVUS,X"EFC4%5!SC//L:X[PQX;U:PU^VN;JT\N%-^YO, M0XRA`X!SU-=<=,235Y+V8!OD01X8@@J3G(Z=Q0!:^VVI8*+F'+-M`\P/I3I/#4TD M,<7F11C9M=HR02=Y;/3G@T`:T.KVXO(;>!)G;,; MLJAEP1\QP#].:P;?P_=BYBEN#:D"0.R(3C@YX&*N3Z1/)X?CL%:(2HP.23MP M&SZ>E'0.IIB]M2F\7,.S=LW>8,;O3ZTYKB%`2TT:@$@Y8#IUKGKCP]<[?W"V M^=J*/FQ@A-I)!4@C/8CD>E.N]#O;AWCS;F(N\FXLE27-[#;VLUPS;TA7:Y;6=R\$DTU&&[M)+F-7"1D@A@,\#/K6+K&D MWMSJ10@11VT6%C5E64 MMYA4_>RR?*?H#U-26GA^YMH`SK;RS(\;!2QPP7.5)V^^>G44"-H:C:^9*K3( M@CVY=V`4[AD8/>I9+JWB3?)/$BY(RS@#(ZUSUUH-]*&V"T4.`"B':%^7'!*G MCGMU]JB_L:>XFF"`,L&S8"60"0@;RK$?[(YP1R:`.AN=0@M9;6.0G_2GV1E> M1G&:+74K:Z:=8WQY$K1-NP,E0"<>W-9UYH]U<6%C$)(5FME)W`84.%^7``Z9 MQZ5770KRWB/DM!([,V=SE0=T84GH>=P)Q1W!=#;DO[9%?$J2,@!*(P+8SCIG MWH>_MDF$1E0GD,0PPF/[W/%81\.7'V=%5K<2!V9FR>00N.W^S5?4-$O%MPWD M6S"!&0,N3)-N;.3Q^?7O0".G^UVV(S]HBQ*<1G>/G/MZU7DU6%+".[6.61)' M"*B*"Q)..F:QKC0;^=V=1;1B1B^Q7P(^0<9VY(X[8Y-7IM)F?1(+,B&1XY0[ M*SE58!B<9`R/RH`OVVHVUQ$C[_*9W*!)<*VX'!&/6I/MEJ5=A,+] M?2L`:!=*C(%M]LH*!=['[."V[*DC+'\N<4]=`N(OL[H+=VA`+(20)#O)Y./0 M_F*`-:/4[>2.VD4L%N2P0G'&`2<_D:?)J%I';/<&XB,:9!*N#SZ?7VK._LBX M.G6<&85>$2;@"=OS*P&./]H56DT"X1BT*6KCRA'Y;$A<[-I;IV/Z4/J-=#26J-F1`<^G&,C\,C\ZY]/#EVCN-T+@JPW/ M(F(TJ***0!1110! MG?VQ;_W)?R'^-6)[V*"T6X?=M?;M4#+,3T`'K6/_`&;=_P#/'_QX?XUHW5I- M+86ZQ;1/`R2*'/RDKU!(_'F@"%M?A5_+^R7AD4%G01C,8&.3S[CIFI1K5F8C M+N?RPVW=L./N;\_3!JL-+N+V^-SJ141F,H(89G&T$C@D8W#@YSZU9@TJ(+3[U)0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!69< M:L+6]FADC9U41A!&N69GWOWU$>3'R!SSZD=,]:0^'H-AC2YN4 MB;!958#U"!FK1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 <0`4444`%%%%`!1110`4444`%%%%`!1110!__V3\_ ` end GRAPHIC 17 tf1_a0415x46x1.jpg begin 644 tf1_a0415x46x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M^0*J`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[^N=CU+6=0:YN-,BM3;P3&)8I,[Y<=3G.!715@2>'KE9)X[+ M4WMK.XD\R2-8P6!/7:V>,T=0)+C79+76);:>']RELLNV-"TFXMC'!P:4^*+` M0>84N!)YOD^28\/NZXQG'ZU%JOAIK^YDGCO6B+0+%M*ELX.?F.>0:@'A-UM) M85NH"))1*4-J-@XQC&<%EB$7S@#KD&K\E M[%'IS7K;A$L?F?,,'&,]#6!+X2=M.@M!>1N(]V1+!N`S_=.=RX],UH7&B&?0 MH=*^UN$3:)'*Y+J#G'7BA[!U(O#>M7&J":.]A2&XC"NJH"`489!Y)J]-J+*U MRL-N9?(*J3N`&X\G)[``@D^]5+3PY;:?JD5YI[&!0A22(EG$@/3DGC%2K97* M2WT<+B(2RK,CLH96R`&4CT^7]:&`Z'6%FAMY!"W[TR;@IW;0F!POY M4D>C@;4DFWQ!YG(VX.7)_D"P_&A@0OXA6*V:6>V,1*))&&D&&5VP"3V]ZTK& MY^UVJS8C`;./+D$@_,5GQ:1"0$.#N'\/MZU)# MJXDNH;>2WDC=X#,S'[JX`.`<<]:IGPZY;;]HC$8W`%8L.ZLV6#MGGC(Z5ISV M7FWT5R)-OEQ/'M"Y^]CG\,>E'0"C:Z^MS927:PQ^5&%9@DZNRJ>I('0@I M["N7TGQ3&8(0 M-V.QR.E5)_#>FRS"1(1;_NVC9(%5%<,.XQ0AE:Z\500&4)!O"S^1&QE5%=@, MLOO34\5"X%JMG8O/-<;QY8E4;2O7GH?7-63X:LAIMO9Q/+']G,'\JEM=#M[:>UF$UQ));!PID<'=NZYX_EB@13_X2>--4%G/;>6I9EW^ MH/&2/QK-TSP]>KJ5J;J)DMK;S/E:X$BD,",(,9`Y[T(;-+2/$\&J7JV MPA\HR*7B/FJY('J!]T^QJGXEU^YL=2CALY8U6W02W"MMRX+`;1GOCGBM33-! MATV<217%PZJI6.-V&U`?H.?QIW_"/Z>\]U-<0BYDN6RS3*K%.,87C@4>@AE] MKGD3V<-K:M=O=QEX]KA1@#/4^U4$\7>R=9IW-DK)'O8'(;UX[=JAM?#%E:+((Y;@^9;M;G^\4K9P6\QL]R30K,G4?RH_K\_^`"_K\/^"2Z/ MJ$]YJVIQ/)NAA,?E*5`V@KDU0>358]?>Q?67$*6_V@M]GCZ;L8Z5M6&E0Z?/ M<31/(SS[-^\C^$8&,"E;3('U-K]BYD:#R"A(VEP'-.?1+266_>7>_VX*)58C`P,#''%#\OZU!>9GW M'B*33;.R2]@5KV:+S)$,BQA0/<\9]JKGQ3.U\9(K4O8K9_:,;E#?4_B-N/QK M0G\.02P6R"ZN5DMD,:3;E+%3V/&*67PW:RRHQGN0!;FW<;\^8ISU)'7)S0P0 MV7Q%'&,FW8_Z%]L^]V_NU"OB2Y8VJ#29/-NU9X4\Y?F4`')/;K^E21>%[9%D M$EW=2E[*'_7X_\``#^OZ_$D MTG4$U33HKQ$:,29^5N2"#@_RJY533;"+3+)+2!G:-"2"Y!/))[#WJW0P"BBB M@`HHHH`***P&U74#J]U:HMJBQJ"HF)4A]`&_16'::U<7$D): M!%B8I'(.=VY@2"/;I^=+J>LSV<\@BAC>.-TB.XD'>XR#]!Q^=`&W16"=:N5= MXVBB+6Q_TC&>1NVC;_/FMULX^4@'W&:`%HJ/$O\`?3_O@_XT8E_OI_WP?\:` M)**CQ+_?3_O@_P"-&)?[Z?\`?!_QH`DHJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ M/$O]]/\`O@_XT8E_OI_WP?\`&@"2BH\2_P!]/^^#_C1B7^^G_?!_QH`DHJ/$ MO]]/^^#_`(T8E_OI_P!\'_&@"2BH\2_WT_[X/^-&)?[Z?]\'_&@"2BH\2_WT M_P"^#_C1B7^^G_?!_P`:`)**CQ+_`'T_[X/^-&)?[Z?]\'_&@"2BH\2_WT_[ MX/\`C1B7^^G_`'P?\:`)**CQ+_?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_`+X/ M^-&)?[Z?]\'_`!H`DHJ/$O\`?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_O@_P"- M&)?[Z?\`?!_QH`DHJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/\`O@_XT8E_ MOI_WP?\`&@"2BH\2_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_`(T8E_OI M_P!\'_&@"2BH\2_WT_[X/^-&)?[Z?]\'_&@"2BH\2_WT_P"^#_C1B7^^G_?! M_P`:`)**CQ+_`'T_[X/^-&)?[Z?]\'_&@"2BH\2_WT_[X/\`C1B7^^G_`'P? M\:`)**1>=PD48RS'L*6 M":.X@2:%P\5+NVMSC@9.?3&.])K M7VG^SV^Q6B7-QD;%?;A3_>Y]*Q+33KN*,%]-:1H8)#YFV]M#<372)%.,QL0?F'Y5>1UD170Y5AD'U%G(EI.;J"W:-7B MN0AB_ZU7_L^X_Y_Y?U_QJW=B5K:002"*3'# ME=V/PK+TZ>2_T:"W:2Z2XDMU;[0%.-V,YW=#]*`+/]GW'_/_`"_K_C1_9]Q_ MS_R_K_C6.-6U$-%,R;I9&:W6-`60%/OM@8R21QZ"I6\27!$,B0)M/E^:N&8J M6;'WN@]NN?:@#3_L^X_Y_P"7]?\`&C^S[C_G_E_7_&G:1=W%[;O/.L2H798P MF.Z$DL1C>,2P"53Y2EL9*C M[VX?E0!?_L^X_P"?^7]?\:/[/N/^?^7]?\:HZ[/=B\$,#.L<=L\Y*2^620?7 M!SCTZ<\U$MS=->BX:9F@FE6*+9[>WG54!+(5^<`=3C/ MXT`5Y9-)FA\F6.%X]Q?:8N-QZGIUIK?V*[H[P6[,@"J3!T`Z`<58_M2T\XIY MR[1&)&E)`0`_=!)[FK#7,"2)&\\:O)]Q2X!;Z#O0!6COK")-D3*BY)PJ$#GD M]J?_`&E:?\]O_'3_`(5/'/%,6$4J.4.&"L#CZU)0!4_M*T_Y[?\`CI_PH_M* MT_Y[?^.G_"K=%`%3^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"K=%`%3^TK3_`)[? M^.G_``H_M*T_Y[?^.G_"K=%`%3^TK3_GM_XZ?\*/[2M/^>W_`(Z?\*MT4`5/ M[2M/^>W_`(Z?\*/[2M/^>W_CI_PJW10!4_M*T_Y[?^.G_"C^TK3_`)[?^.G_ M``JW10!4_M*T_P">W_CI_P`*/[2M/^>W_CI_PJW10!4_M*T_Y[?^.G_"C^TK M3_GM_P".G_"K=%`%3^TK3_GM_P".G_"H)9M*FG2>58GEC^Z[1$D?CBK\TL<$ M322L$1>2Q[55N=3AMKE89$E.2H:0)\J%CA9Y1W?GBI[S4$M)8XC%--)("P6)WNS&L:2AY&V["!D#:&R>>F"/S%:%`!1164^O6L5S>-I(ID95."<]*1[ZT1&N'!H`L45%!<1 M7,8D@D5T/<5+0`444R22.)=TCJ@Z98XH`?16;+J;2RF#3HQ<2#[SD_(OX]Z1 MH=5N<)+-!;QG[QASOQZ9-`&B[J@R[!1ZDXJA<:JBR+#9H+N8\E4;@#W-":+: M;MTWFSGL97)Q5R"VAMQB&)(P>NT8S0!&EP\]BTJ(T,FTX$HQM/O[5SEK>Z@N MBWA%VQN89,R"8`E!DCY2.#G'X7L;"YYXW9X)ZUGZCJU[:7DB>9* MKR2M$J-%^[1:1=Z2R@_,';"DC!8#.`<=Z<^D64DL MDCQ%C("&!6^OX9I4:>X:UM&82S((MQ'RD9W#G`)Z"NE' M(S6?_8EB0@,;DJ3DF5LODY.[GYAGUK0HZ!U%HHHH`IZI;-=6GEK#!/AU8QSY MVL`>G'^!JOI&F260=I)F579F%LC`Q1@GH.,_R'M5Z>.9]ODS^5CK\@;-1?9[ MO_G]_P#(0H`QI/#TR6T2P>6#'<22%%?8&5LA>=IY`P.E0MX=OML,:M`518^= M^,;6R0?E);VY'TK?^SW?_/[_`.0A1]GN_P#G]_\`(0H`9I%B;"S\IQ'YA=V9 MD[Y8D?H:O54^SW?_`#^_^0A1]GN_^?W_`,A"@"W153[/=_\`/[_Y"%'V>[_Y M_?\`R$*`+=%5/L]W_P`_O_D(4?9[O_G]_P#(0H`MT54^SW?_`#^_^0A1]GN_ M^?W_`,A"@"W153[/=_\`/[_Y"%'V>[_Y_?\`R$*`+=%5/L]W_P`_O_D(4?9[ MO_G]_P#(0H`MT54^SW?_`#^_^0A1]GN_^?W_`,A"@"W153[/=_\`/[_Y"%'V M>[_Y_?\`R$*`+=%5/L]W_P`_O_D(4?9[O_G]_P#(0H`;JNG1ZG9M!(S)G[K` MG@_0$9JE?:7/*88($B$$;*T4K2-YD)!R3SG=GZBK_P!GN_\`G]_\A"C[/=_\ M_O\`Y"%`%'5M/GOR";.RE.QXU:1CNCR>&!Q^F,Y[U$FC3"^B=HK4&.17:Z7/ MFR`+@J1COWYQ[5I_9[O_`)_?_(0H^SW?_/[_`.0A0@,FXT:Z25I+#9;_`#%4 M1'V!5QPW'7YN2.X`':N@'3FJOV>[_P"?W_R$*LH"$4,VY@.3C&:`'5@-I5X^ MLWDV(8X982H921YA.0-P]1Z_3U-;]%`&+)IFQ0Q-YX6>:0[I'=4I(8?T-76\;Z,('=7E9EZ1^606^G:@"YG-J MEF8`\1EDD9MHA#G?GZ9I^C:W9ZU"SVK$,OWHWX9:N?98/M/VCRE\[&-^.:`, M\2:F.389!Z*+G!'ZTMOI7G_O]3S+*>D98E8QZ"M6B@""*UAA0)$I11V5B!3_ M`"E]7_[[/^-8NO>*;31V\I5^TW/>)6QM^I[5BR^*-[F_B6.8X7ZGU]JSCX5UK5)`=8U0 M>6.BH2WZ<`?6MG2/"FFZ6?,"&XFQC?+SCZ#I0!;TW5K;4-+-[:B1D4'*-]X$ M#)%9,'BJ5M%>_DLM;\5G!;6S06D:6Z-G_5*%P3W^ MM8=IX9DCTV^MY[L&6[<$R"/L&)!QGDG_`#TH6X&A_;"-KRZ7&FX^47=\_=/& M!^1_45!=:W=6^H-;?V:[A@_DX?YI"H!SC'"\]:CN?#[17KZCI]Q*MQAV$;'* MEVQSR<`>WT]*=-H=])?W5VFJ*C3IY8_T?)C7T4[N/6@"M_PE;H2LED`T+$7! M$N0H#!1/%">UJJG&0>#G(/!R?>NDHZ`+1110! M#=B5K:002"*3'#E=V/PKE[:^NY+$7#74OF6\5N47=Q(7/.X=\]*ZBXN8;<`3 M-MW9QP3FJ7F:1OB?RX=T(Q&?)^X/;CBA`1ZC>2_9&O[83QFS)9XI5*"5<7G;^&:S@-$#NXM[?<^=Q\CKGKVJW_:5I_P`]?_'3_A1T`MT5 M4_M*T_Y[?^.G_"C^TK3_`)[?^.G_``H`MT54_M*T_P">W_CI_P`*/[2M/^>W M_CI_PH`MT54_M*T_Y[?^.G_"C^TK3_GM_P".G_"@"W153^TK3_GM_P".G_"C M^TK3_GM_XZ?\*`+=%5/[2M/^>W_CI_PH_M*T_P">W_CI_P`*`+=%5/[2M/\` MGM_XZ?\`"C^TK3_GM_XZ?\*`+=%5/[2M/^>W_CI_PH_M*T_Y[?\`CI_PH`MT M54_M*T_Y[?\`CI_PH_M*T_Y[?^.G_"@"+6KRXL=/DFMH3(X'7(PON_X5JRMH\P42PP.%8L,PYP3R3T[TX3:4+HW(6(3D8\SRCN M_/%"`R8+VYT^=8;^65UA)=]CESG8,@DXR!\S8_VEKIP_98A'#AKF7Y8T[Y/>@"]162D MVL1Y@:WBE<'_`%Y;"D?0=Z>;74KCBXO$A3NMN#D_B>E`&A)(D2EI'5%'=C@5 M1N-7A`\NT(N;AN$1.1]2?2A-'@\SS+F26Z8?=\YL@?A3[NYL-'M7N9A%`@'\ M*@%CZ`=S0!"(-71`PO(7;&=C1X&?3(JQ87ZW8:-U,5Q'P\9ZCW'M7/KX^TTO MAK:Z5?[V%/Z9K<,%CK$$5U&=P9>_M+??YEQ&&3JNX;ORJFC MZE?@R1,MG`?N[EW.1ZX[59@TNS@10L",5.=[@%B?7--O-8TZQ=DNKV&-U&2A M;+#\!S0`ZST^*T+29:69OO2ORQJVS!5+,0`!DD]JXN^\47^KW/V+P]$P7/S3 ML.?KSPH^O-,DT3Q5?(;:ZU&/[.Q`8[^H_`9/T-`$]SXX<7DJV.GFYMHN#(&/ M/OTX%0-XIUK69/)T.Q,8'WI"`Q!^I^4?C73:3IMGH5B+>)P,G<\CD`N?6I_[ M0LUX$H'T4_X4`!V#O;J^X0LXY'H2/\*`+R^/M+).8+L#L=J\_^/5GI<^(? M%4C-:.;&Q!P&#%<_B.6/Z5TK6D)4(^B6[*!P-J$#]*L1M=JBQP6D4"#@`MP! M]!0!F:%X3L]*D%Q*WVJZ'(=A@+]!Z^]=#5/R+QQ\]V%]D04?9)^UY)GZ"@"Y M15/[-=#E;PD^C(,4;[^/AHHI?=6Q_.@"W3$FBD0M'(C*"02K`@$=:CD+M8R^ M>"A*-D1\D#';WKC[)(9-`U".(C;"X;S825$O)P&'8CKCZ4(#M\C=MR,]<4;A MG&1GKBN>6?3AX@DD6>"%K5`Z[5'/U^E073Z5+JMQNDC41;O/. M_P#>2DK@J`#G8!R>W'L:`.GW*0#N&&Z<]:=7!R;/S8UW.FX94>IH`GH MJ/SHO,6/S4WL-RKN&2/4"AYX4?8\J*Y4MM+`'`ZGZ4`245"+FW(C(GC(E_U9 MWCY_IZU-0`444A(49)`'J:`%HJ'[7;[MOG1Y_P!X4K7$"_>FC'U84`2T53DU M.UC&?,W>RBJS:[;!2RC(]V`H`U:*R9=5N#;^=#:A4[/(3C^59IUN3&\ZG;J? M[@5=H_$G-`'445QD_B"/>&FU;:3P!#]T?D#4UKKU@3C^W2')XWH^/S(`H`ZV MHY9XH1F65(Q_M,!7-OK>G?/NU[D#Y@J-^F/Z5B3>(-(C_P!1:W-P_P#M;4!_ M'DT`=J-7LFN4@24.SG&0/E!^M2S7UM#PT@)]%YK@FU^6-D$^FO;6\C8$C;LK M[C@`X],?E5UO$:VLPM-&MO[0N\G=,5)!/^R!SCWXH`Z&;7HE)"!1C^^>?R%2 MVVK-<*S+;,0GW]IY'X&N:_X2O5(7*7FA!KH?=8(R\?0@D_G4VBZS>:GJD^(8 MK:^C7#Q/D"0`^AY##B@#JUNX&MVG$@V*,L3V^M4'UP%,PV=P^1\I9=H/X^E- M73KFYN/-N_)A3ND626^I-5+S6O#VGK(/-CFE0?<3+[CZ9Z4`3,;@KYTVJB.7 MM'$H95]L=ZCDN+?3;66>W(N+YAP\_P`H)_H/85BP:YX@N1]KT_1X1;_PXB)S M^.03^%3Z?X?U+6-174/$)PB8*0<<^V!T'ZF@"];^)+I+^:%# MU2%"H_H3^-00>#B9P]])=7(&/E`"Y]LDGBN[HH`QIK&&>R-F=(00[=H`91M^ MA[&L"TFD\'%X;J=WBF&Y(VC.`?4,#CZBNXIKQI(A21%=3U##(H`XN?Q-JE[$ MK:=IURZ.2%=8R%)_#.?SK8TK1)?(\W5&4SN=QCC`"K[9ZD^O-;JJ%4*H``Z` M4M`%-=,M%&!#_P"/&E.FVA_Y98^C'_&K=%`%5-/M4Y$0)_VCFK*J%&%``]!2 MT4`-V+G.T9'?%.HHH`2EHHH`****`"BBB@`HHHH`****`"F)&D8(10H)+$`= MRHIU+10`W:H`&T87IQTIU%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!7)3VOFZUJ4*VLK*\+,VY#D'G&UAU#'MWZ=L5UM)@9SCFD.YSHAE748 MMT$F_?"ZOL.%14(89QQSGCWJMK,;WQ>;&K;P-Q'.",\'W-'2P=;G%3^+5+F-? M/NB3CY'**?ID9/Y"HDUZ=R(H-&F>8<["Q88^@4']:[JQTVSTZ/R[.WCA''H)'X^;[.Q'Z'%'G>)96$<.BV]O*3Q*EN%V_BQ MP*[ZB@#B(_!5[>,)M5U`R2-R55B2/Q/^%:">"=+6((879O[YG.3^0Q^E=/10 M!SUOX0TJ",J;)92?XI)F)_0"GR^%-)E&#IT2^ZS.*WJ*`.>_X0_2,`?8%X[_ M`&A^:U;6RALU`MK.WAP,?)P?SQ5RB@#-UG3!K&GM:3*JY(97#9*D=^G^BQZ+:^5!&CR-_K)2WS-^G`]JUZ*`(\R_P!Q/^^S_A7-:[X8N;W4!J.G3K:W M0'S88C<>F<@<''%=310!PT^F^,+R$V-Q.GD-PS[U&1[D?,16K8^#]-M8D$MJ MMS*,$O)(W)^@&,5TE%`$2AT4*D4:JHP`&P`/RI9?[B M?]]G_"C,O]Q/^^S_`(5)10!'F7^XG_?9_P`*,R_W$_[[/^%244`1YE_N)_WV M?\*,R_W$_P"^S_A4E%`$>9?[B?\`?9_PHS+_`'$_[[/^%244`1YE_N)_WV?\ M*,R_W$_[[/\`A4E%`$>9?[B?]]G_``HS+_<3_OL_X5)10!'F7^XG_?9_PHS+ M_<3_`+[/^%244`1YE_N)_P!]G_"C,O\`<3_OL_X5)10!'F7^XG_?9_PHS+_< M3_OL_P"%244`1YE_N)_WV?\`"C,O]Q/^^S_A4E%`$>9?[B?]]G_"C,O]Q/\` MOL_X5)10!'F7^XG_`'V?\*,R_P!Q/^^S_A4E%`"+G'S``^QS2T44`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%(2%!)(`'4F@!:*2EH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`K&\6!&T.422!!GN"5)P<`^G^.*V:;(B2QM'(H9&&&4]"*!H MY6SFB^W6G5KF619CYA>+RRC=8"IWD8 M_AZY/TKK"JGJ!TQ2)&D:*B*%51M4`=!Z4".1+J)6"/\`NU8_8,-P3Y@!V^O^ M'M78TFT<<#CI[5%<6MO=QB.Y@BF0'(61`P!]<&CI8.I-15'^Q=*_Z!EG_P!^ M%_PH_L72O^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_P MH`O451_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\` M"C^Q=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^%_PH M`O451_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_" MC^Q=*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_``H` MO451_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_P MH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*`+U%4 M?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG_P!^%_PH M_L72O^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_PH`O4 M51_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\`"C^Q M=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^%_PH`O45 M1_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_"C^Q= M*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_``H`O451 M_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_PH_L7 M2O\`H&6?_?A?\*`+U%1PPQ6\2Q01)%&O1$4*!^`J2@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`*H:SY!L2+EU1"P`+DA,]MV.V:OTA`(P0"#V- M#`XII1.EO)=.P@CM3$&9CS*%W#GWR"/H*TM*8KK.9'BFGE!\T;6$D.%7KDXP M?IWZFNCVCT'7/2C`SG`SZT=0%HHHH`****`"L;Q(]JMO$EQ(JR2$K$'DV(&Q M]YC[=:V:*`.3O#&P,UQ-NMW,BK)NQN9$`7GUR'(]ZT=,ME?5GN"FR2*%`_)^ M:1AEB?PQ^9K:VC&,#&<]*6@`HHHH`****`"BBB@#"UU[0WUK#)<+%I__570TA`(P1D&@#$TZTDANS$T\H=[-I:`"BBB@`HHHH`****`.6NC;7&N^1;3CS# M*$G!DRTG()7;_=4*?Q/UJSI*6FP"BBB@`HHHH`Y>[FMCJ5Y]DN% M%P%:)PTOSR.^%`"_W5_G^-.NK=8DO;=[L1Q>?#\\X)4#`(7C&!P!U'UKI2`> MHS00""",@]C1T`IZ1)YNEV[^6L>5X58AQE"!P M#GJ:ZP6$KZW-=&26./9&%".`'(+9!'XC\Z`-.HY94BV^8VW>P5?><=JM)IVH;[G=!,3+#A MF,B[B?EX!S@]#P1QTSS0!U51O-&DL<3-AY,[!ZXZUR,>F:L98BELT+(<)(&' M"_-URYV]1\H&/Y5;&D27"PJ;"2*-%?<'F!)?9C=@'CG\^M`=3IZ0D`$DX`ZF MN6>PU-H_)>"/SJ"WTC4S<)YL3K'G"`$`+'SD'YCM MSG[HR.>V.!@CK(KB*8XBD5OE#<>AZ']*KWNJV=A*L=S*R,XRH$;-G\A[5S<^ MCW8\IHM/D#""-3AT(WJ",,-P/I\P/%='>P33?82J`F.=7?!Z#:0>O7K0P+BL M'0,O1AD5!>W]M8*C7,A0.=JX4L2<9Z`&N:73-4>2X*0/"\N-LF\`(X?.[[Q+ M<=\*`.KHHHH`H2:SI\4C1O<8="58;&X(_"IOM]M]A-YYO\`HX!)?:>@ M..G6N;O=&U"6]GD2WRCR,RG>O()^M:;6-S_PBSV?EG[048!`PS]XGKG%#!&E M9WMO>QL]M)O"G#<$$'W!YJQ7(W6F:B\?(CR@[,`G#`8ST.3CT MJ5-)N5C$MS:2W#.[>9&)1EOE&PYSC@Y^FQ'45)7)76 MF:D93LMFSYID1ED#$'<.Y88X'7&3[5%)8W=WYCP!KF."5H8-C@J5&2">1W8# M(.1MH`ZQKJ!+I+5I`)G4NJ>H'6BUN8;N$36\@DC)(##V.#^HK&UFPOI[V"ZM M(QYT,)4'<``2<$<^Q)_"JBZ7?6EJ+>"WD965XUVNHV_O=P)Y[K0@9T\DJ1;= MYQO8*.,\FCS4\[RL_/MW8QVZ5S`T?48Q$;=&C=AF1O,'WMS8)YYP"*K3V4T, MT+OI\Z6[-&C1&8$RMGYN-W?Z\T(&=C(ZQQM(YPJ@DGT`JM/_1WRJX4[P<(=WRDENV0,`F/Y>]/J'0ZNJ]M>PW,LT<9.Z M(X;(]R/Y@C\*YF/2=5_?J!()F(_>EU4!]V=_4DX'L.N,>G0:7916EN'6W,,L MBKY@9]YR/?)]Z2!EZBBB@"I_:5I_SV_\=/\`A4LMU##;?:))`L6`=Q]^E8G] MFW?_`#Q_\>'^-7[VVF;3[7RX_,DMWCD,>0-VWJ`3QF@`;7M-4*3&Z\ M\'IZ#FK-GI4:1W4$\/[@S9B&[^'RU7L?J*`-"WG2YA$J9`)(PPP00<$'\14M M1P0QV\0CB!"@D\DDY)R>3[U)0`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!69<:L+6]FADC9U41A!&N69GWOWU$>3'R!SSZ MD=,]:0^'H-AC2YN4B;!958#U"!FK1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%(`%&%``]!2T4`%%%%`!2$`]0#BEH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" &BBB@#__9 ` end GRAPHIC 18 tf1_a0415x46x2.jpg begin 644 tf1_a0415x46x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@! M``*I`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`K`GU'5;S4;RWTI;94L\!C,"3(Q&<#'05OUB7FAW)O;BXT[ M4#:?:@!.IC#YP,9'/!I#(O[>N+?46@OK8(J6JRLD2EWWEL8&#@BI3XHL!!YA M2X$GF^3Y)CP^[KC&8%(*D\=,'I6'+X2=M.@M!>1N(]V1+!N`S_=.=RX],ULQ:9&NC M+IDTCS1^5Y;.>I%#V8+=%+3KC799+:>XBM7M;A=S+'D-$",CJ>:T+V^-K+'% M'`\\KJS[$/.U1U_,@?C6?8Z+>P3V_P!HU626WM1B*)$V9XP-Q!YQ5J_M)Y-0 MAGMW,9:)X6<`$IG!#8/7D8_&A@AD&L>;#GR!YHN%@VK(&4DX)(8#G`S^5*FM M));7LRV\@^S.$59!M+D@8X/3.13;32'AOA=2RQD[BY2*/8N[;M!`R>V<_6I& MTLFXDD\[*2W*SLNW^ZH`'Y@&@"`^($2-YI+=EAV2/$^\'S-G48[>U7-,OO[0 M@,H6(`'`\N82#\Q5-=$E7"?:U$<0D$`\H$KO.?FR2&QTZ"I(]%2266>^?S9I M2"?)+1*,#'0-S^-`$E]J4EG+S:.T"E`\N['+'`"C^+WJ*XUB6+[0T=DTD,!; M?)Y@484#/;KG(Q[4-I$RW<4D-S'Y$/\`JX9HVDVGNV=XR?N))J*VH@8!F"ABPW9*[L[>NW'?UI4UI7EM M$^SR?Z4[*K?PA1NP?3E* MV"H^Q;-@P&,[@%*X]NM`%:WUO[5+HS6E;SIIP1UJL_AJP:WO+=?,CANF5C&F`L9'=1CBA#*X.14T&B6T$S2AYF9K?[.=[YRO7.>N:!&;#XNA,LZ7%L M8A'$TH*RK(2`<8('0^U/7Q0(V87MA);8MCE>';F2ZD;4TD$)M?L^V2<2,>>Q`&`,4?U^?_`#^OR_X M)K:)K\6K32P^4(I44/A95D!4^X[^HK*U'Q)/;^(Q&D\8L()$AF0[I MO^$:M#;7<+3W+"[$8D8LN?DZ8X]N:DG\/VDZWRO),!>E#)AAQMZ8X_QH`BN? M$4=NNI,;=F%B4!^;[^[^5,OO$JV6I):R6N49U3?YR[OF[A.I'O3KWPQ:WD]Q M(USZA;ZCJ/VW5G>VT[8[`0(#(",XX''I6_I MVG0Z)9 MUM9P=/>"Y^SFX@#N&#KZ\=,=<5&_BF:RL+62[LLN\*R.3.BEL]U'?/7':KT' MANVC$OG7%S<%X3`K2N"8T/8W9S$(G.Y:MJ<4DFZ&$Q^4I4#:"N37.SZ_J0GNTCU"7SUNFB@@%JK*X!X&[%=;8:5 M#I\]Q-$\C//LW[R/X1@8P*K/X=LI+.YMG,I6XG,Y;(W(Y[J<<4=0*:5W#Y&SG*\>M`$-_ MXE%I?R6<=D\TJR1QJ`X&XNI(Z].E1S>*9(&N/,TR0"U*"X(E7Y-V/SZU8A\, MVR7:W4EU=33B1)2SLO+*"!VZ'[2X%^'DF'VXH9,,.-O3''^-"_K^OO` MU0<@$=Z6D`P`/2EH`****`"BBB@`HHKGA>7W]MWENUTL0\O,*N@*8R?FR.X` M/!_I0!T-%G>NB8$C`)'N*.EP M\A:*C\MO^>K_`)#_``H\MO\`GJ_Y#_"@"2BH_+;_`)ZO^0_PH\MO^>K_`)#_ M``H`DHJ/RV_YZO\`D/\`"CRV_P">K_D/\*`)**C\MO\`GJ_Y#_"CRV_YZO\` MD/\`"@"2BH_+;_GJ_P"0_P`*/+;_`)ZO^0_PH`DHJ/RV_P">K_D/\*/+;_GJ M_P"0_P`*`)**C\MO^>K_`)#_``H\MO\`GJ_Y#_"@"2BH_+;_`)ZO^0_PH\MO M^>K_`)#_``H`DHJ/RV_YZO\`D/\`"CRV_P">K_D/\*`)**C\MO\`GJ_Y#_"C MRV_YZO\`D/\`"@"2BH_+;_GJ_P"0_P`*/+;_`)ZO^0_PH`DHJ/RV_P">K_D/ M\*/+;_GJ_P"0_P`*`)**C\MO^>K_`)#_``H\MO\`GJ_Y#_"@"2BH_+;_`)ZO M^0_PH\MO^>K_`)#_``H`DHJ/RV_YZO\`D/\`"CRV_P">K_D/\*`)**C\MO\` MGJ_Y#_"CRV_YZO\`D/\`"@"2BH_+;_GJ_P"0_P`*/+;_`)ZO^0_PH`DHJ/RV M_P">K_D/\*/+;_GJ_P"0_P`*`)**C\MO^>K_`)#_``H\MO\`GJ_Y#_"@"2BH M_+;_`)ZO^0_PH\MO^>K_`)#_``H`DHJ/RV_YZO\`D/\`"CRV_P">K_D/\*`) M**C\MO\`GJ_Y#_"CRV_YZO\`D/\`"@"2BFJ"HP6+>YQ3J`"BBB@`HHHH`*** M*`*.H:I#I[11O'---+G9%"FYB!U./2F6^M6ERUN(RX\^-I`67&T*<'.>AJ+4 M[&[;4;?4;#R6FB1HVCF)`93Z$=ZIWFCZI=I%)+/:O<+;R1L67Y=S$8P,0912XRWT'>N3_`.$5O?L[ M@B#<9O,51,00-N.NS'_COY5,WAN_^U6LP:UWQI&KN.%^4\_(5(/MC;0(WM0U M2'3VBC>.:::7.R*%-S$#J<>E36-Y%?VB7,!;8_9A@@]P15'4[&[;4;?4;#R6 MFB1HVCF)`93Z$=ZNV"726B+?2I+<,FJLGB&Q2.)U$L@F MB$B>6F2\XE+L5)7T!`/6J"Z7JD5O<&T^R6] MP\<<$6UV*QHH.<'&3U&3BFOHMG,%^T*\S!`C,SM\^!@ M,>?O!C"-@5']A_Z>KK_OY53Q$C&TAD6:1`EQ%E%.`V74<]ZE MO8I;Z&:)H7MS$=\,^Y3\PZ$`'/Y]C1?2X$WV'_IZNO\`OY1]A_Z>KK_OY7,/ MJ5[;I#=B1$DO(3.SMM"G'W8QN[`=AR;)*@D)VA<9`..*NTWH" MU*GV'_IZNO\`OY1]A_Z>KK_OY5NBD!4^P_\`3U=?]_*/L/\`T]77_?RK=%`% M3[#_`-/5U_W\H^P_]/5U_P!_*MT4`5/L/_3U=?\`?RC[#_T]77_?RK=%`%3[ M#_T]77_?RC[#_P!/5U_W\JW10!4^P_\`3U=?]_*/L/\`T]77_?RK=%`%3[#_ M`-/5U_W\H^P_]/5U_P!_*MT4`5/L/_3U=?\`?RC[#_T]77_?RK=%`%3[#_T] M77_?RC[#_P!/5U_W\J#5WU%?L_V!$8&5=^2IK'ADE&N[[EH3<_:MG ME*S>8$V=0<_<]L?CFA:@S?\`L/\`T]77_?RC[#_T]77_`'\K.O[:UU'5;)8P MK[U,[RHV=R+C`!'J2/P%9=O#+=7S6D,R;Y%G6XF60LS<_+N7C;@\?GCB@#I? ML/\`T]77_?RK=Y\EPODS29&47NWOB@!#>@XS:7) MQS_JZ/MHR3]DNE3MJMBMQY!N%\ MSZ'&<9QGIG'.*`'?;O\`IUNO^_='V[_IUNO^_=26EW!>P^=;2>9'G`;!&?SJ M>@"I]N_Z=;K_`+]T?;O^G6Z_[]U;HH`J?;O^G6Z_[]T?;O\`IUNO^_=6Z*`* MGV[_`*=;K_OW1]N_Z=;K_OW5NB@"I]N_Z=;K_OW1]N_Z=;K_`+]U;HH`J?;O M^G6Z_P"_='V[_IUNO^_=6Z*`*GV[_IUNO^_='V[_`*=;K_OW5NB@"I]N_P"G M6Z_[]T?;O^G6Z_[]U;HH`J?;O^G6Z_[]T?;O^G6Z_P"_=6Z*`*GV[_IUNO\` MOW2?;1G/V2YSTSY=2W-W#:!/.<+YCA%^IJJ=4*ZG':-;D)(Q5'WC+<9SMZ[> MV?6@";[=_P!.MU_W[I!>@$D6ESD]?W?6J][K*V>H):F$MG9D[P"=QP-J_P`6 M._I4!\1('N`;9L0J[##@GY3@[A_#GMGM0!>^U(-O^A7'R_=_==/I5VL[3]4% M^ZJD6,*3(0V0I#%0`<M.U#6UL9W0V[2(A5&=6'WV& M57'Y<^]`&M16/_;N#M:V8-&<7`WC]T-VW(]?7MQ6Q0`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%-9E12S$!0,DGM0`ZBJD.I64RLR7,>%Z[CMQ^=(VJ6*JS&ZB(7 MKALG\!WH`N45!:WD%Y'O@D#`=1W'U%3T`%%%1S3PVZAII4C!Z%CC-`$E%9CZ ME+=2>5ID8DQ]Z9P0B_XTC6>HW(V7-XB1'[PA7!(],F@#0EGB@`,TJ1@]"[`5 M0GU7S)!!IJKZ@NBWA%VQN89,R"8`E!DCY2.#G'X7L M;"YYXW9X)ZUGZCJU[:7DB>9*KR2M$J-%^[1:1=Z2 MR@_,';"DC!8#.`<=Z<^D64DLDCQ%C("&!6^OX9I4:>X: MUM&82S((MQ'RD9W#G`)Z"NE'(S6?_8EB0@,;DJ3DF5LODY.[GYAGUK0HZ!U% MHHHH`H:C97%WD0W$<:/&T3J\(?@]P<@@_I4EMIT%K&RQ;\L@0EW9LX'H3C\J MDGMO.<-YTT>!C"-@5']A_P"GJZ_[^4`94WAH/!:QI.FZ&#R&+QG!'J`&'/UR M*'\..URKF\!1&W(&0E@-NW;][`'T%:OV'_IZNO\`OY1]A_Z>KK_OY0!)96_V M6R@M]V_RHU3=C&<#&:GJI]A_Z>KK_OY1]A_Z>KK_`+^4;@6Z*J?8?^GJZ_[^ M4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1]A_Z>KK_OY0!;HJI]A_Z>KK_OY1]A M_P"GJZ_[^4`6Z*J?8?\`IZNO^_E'V'_IZNO^_E`%NBJGV'_IZNO^_E'V'_IZ MNO\`OY0!;HJI]A_Z>KK_`+^4?8?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?\`IZNO M^_E`%NBJGV'_`*>KK_OY1]A_Z>KK_OY0`7VFVM_Y9N8EBR MW5P97N(LR!/,;R?F4J<_(<_+G\:=9:*;6\25IHV2/?MVQX=]QR=[9YQ]*N?8 M?^GJZ_[^4?8?^GJZ_P"_E`&>=#0!63%I4RZ^^H23AX]FU!MPPSG@GT&?Y>E:U%`&.FCS1F%?M*-#$ MRR!?*`8LN<^^:6Y2(R;))%2/.)5&`0<_=Z<>W6MNB@#%.AR M,Y=KI=TQ_P!(Q']X;MV%YX].];+`,,'/X'%+10!'Y2^K_P#?9_QH\I?5_P#O ML_XU)10!'Y2^K_\`?9_QH\I?5_\`OL_XU)10!'Y2^K_]]G_&CRE]7_[[/^-2 M44`1^4OJ_P#WV?\`&CRE]7_[[/\`C4E%`$?E+ZO_`-]G_&CRE]7_`.^S_C4E M%`$?E+ZO_P!]G_&CRE]7_P"^S_C4E%`$?E+ZO_WV?\:/*7U?_OL_XU)10!'Y M2^K_`/?9_P`:/*7U?_OL_P"-244`1^4OJ_\`WV?\:/*7U?\`[[/^-244`1^4 MOJ__`'V?\:/*7U?_`+[/^-244`1^4OJ__?9_QH\I?5_^^S_C4E%`$?E+ZO\` M]]G_`!H\I?5_^^S_`(U)10!'Y2^K_P#?9_QH\I?5_P#OL_XU)10!'Y2^K_\` M?9_QH\I?5_\`OL_XU)10!'Y2^K_]]G_&CRE]7_[[/^-5[S48;1A'AI9F^[%& M,L:KOJ%Y.OEVMA-'*>"\PPJ^_O0!+28^: MPC4<_O/,9C_A4@T:-P/M5Q<7![AW('Y5:O-0L[!0UWNKVC(Q`:/R$QD$>C'\H]1 M6IY4?F^;Y:>9C&_:,X^M`&9C5@-QBMR#_`)7R/QSBG6NE!SY^H?OIV_A))5! MZ"M2B@"%+>*-0J!E4=`&('\Z=Y2^K_\`?9_QK+UOQ'8Z*`LS&6<](H\%A[GT M%<_+XYNKL"WTW3B+ASA"6W_H!0!VGE+ZO_WV?\:S-7UG3='VBZFD,C=(TN,\"L`:?XPU)@MU>?8T7NL@7/\`WQU_&KNF>"K2"0S:C*U[*>S<+_B30!NV MM_;7.GF[M)#/%M+<$DY`Z<]#[5B0>*I6T5[^2QR?,VH(VW#&?XO[N/?KQZUL MV.E6NFVFWUO/=@RW;@F01]@Q(.,\D_YZ M4+<#0_MA&UY=+C3Q$N&:.-C+MWNH!8=.! M@]?:FW/A]HKU]1T^XE6XP["-CE2[8YY.`/;Z>E/_`.$??^T9;H7956WNB!.4 MD=0I.<\CCI0!57Q7(?LZM8QI),S85KD`%0VW()`!).>/:NEK!O/#0GAM8HKG MRQ%`+>0^7G>F0>.>#D?K6\!@`>E,!:***0&3XB1C:0R+-(@2XBRBG`;+J.>] M9S28U9F4L]^+W:(PV&,.SIC^[[],UT$]SY+A?)FDR,Y1))YSTKH?MW_`$ZW7_?ND^VC.?LESGIGRZ`.@#`M+D#VCI?MW_3K=?\`?NF!;HJI M]N_Z=;K_`+]T?;O^G6Z_[]T@+=%5/MW_`$ZW7_?NC[=_TZW7_?N@"W153[=_ MTZW7_?NC[=_TZW7_`'[H`MT54^W?].MU_P!^Z/MW_3K=?]^Z`+=%5/MW_3K= M?]^Z/MW_`$ZW7_?N@"W153[=_P!.MU_W[H^W?].MU_W[H`MT54^W?].MU_W[ MH^W?].MU_P!^Z`+=%5/MW_3K=?\`?NC[=_TZW7_?N@"#5WU%?L_V!$8&5=^2 MIK-E>-=>MI$D0W'F[;A`[;Q\AZ`_\LQP>E;/V[_IUNO\`OW2?;1NW M?9+G.,9\NA`9&K7<\FI63QQ3/:)-&8WB*E92>^<]NWX^U4;.)[N^EA6<*]RL MZL%8F1/FX\T?H.G6NF^W?].MU_W[I!>@$D6ESD]3Y?6@#"L+K[%?0I(HE0DQ M0D':`#)@[1W&2![*N>]=35+[4@V_Z%7IX-S.W0!3A?;?W*E\?*+B3<<>P[U2 MU#QGI5I;,;!A<3$?*JH54?4D#CZ4`:8LM36/<-3_`'F,E3$",^E2V.H>C>X]:Y4ZWXLMK87LUBC6Y7<8G#I MGYHS]?2@"[/JME`75YUWIU4_P#&.FV<[PHD]RR\%H5!7/IDG^5`&O9V$%F&,8+2-]Z1SEF_ M&I;B>*U@>>>18XD&69CP*X::ZUCQ7-Y2$:?I_H4T`1:W!'K MLH`DFLK2X96GM89648!>,,0/QJ"71=,FF2:2Q@,B<@[`/S]?QI_]HQ=XY@W] MW9S0+JY;E+)B/]IPI_*@#DO$-L_AS7H-9LH\02-B5%X&>X_$?J*Z5_$.F)I: MZB;@&!C@8Y;=_=QZU)<"XNX'@FL8VB<897<$$5S2>!T%QO);RPVX1,_'TSC- M`%I/'VF%B&@NE'8[5/\`6J(U+Q!XFE<:6/L=FK8\S.W\VZY]A71-8*R"-](L MG5>`-JX'YBK$4=VD:Q0PV]O&O10.GT`XH`R-&\'VUE/]JOI3>7.`:>ZR-92+.BNQ1@4C.,\=.:Y6S MM6N=$OHOLTKK&^8"\160L&/!Z;B/IW/I0@Z'5K=VS736RSQF=1DQAAN`^E-: M_M%F>%KF%9(UW.I<`J/4UE-/$FJR32V\\,-H7<$6[_O6*_,^[&,8X'//Y5'< M-'+J$I>PG,,!9EC%LQ\YR/F;.-N,=!GD_A0!L#4K$K"PNX=LQQ&=X^8^U6JX MN2WN7:1@EPRR%_*?R#FXRZG#C'R#CKQP*[.CH'46BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBJ<>IVDE])9K,//C7.('N[A?YU7_M;3B/EOK=_9)`Q_(4`7:*K?;[7=M\Y<_C2/J%HG M693_`+N6_E0!:HJA+J]I&N=Y;\,?SJF_B*!02$'_`'U_]:@#;HKFAXG^U2&* MR`>0<';$[_J*89/$1E+@_+Z;3_+;0!U%%6X\4E-QTZ78_`'FY/X MC-6;;0M:E53*]C:`\G8A=Q[>GZT`;@UNR:X2)&9@QQO"_*#[DU--J5M%_'O/ MHG/_`-:N7US2]2TK3_MD5\;A8V'FH(@GR^O?O6=I6B7_`(FSH'4Y)XJO;^"+J[MA+J.HR)?PK;T/PM9:,_G`M/<8QYC M@?+_`+H[4`<[::;XHLK:C=E3U7YW'Y$ MBN_HH`XFS\&11N7NH9[KGH9!&#]>_P"M;%KHMI9R"2'1(@XZ,TH;!]1G-;U% M`%)I+UE*FT3!&#EP17.QZ-R7]C#<%'ZP0E6&/3!Y(]*Z^B@#DVMM?NH3 M)%'L\\D,MU.>![H.!]!^5;5EI$4%NJ7#>?+_`!/C:/P`Z"M*B@"LMC:KTA7\ M>:#8VIZPK^%6:*`($L[:/[L*?B,_SJ;I2T4`%%%%`!1110`4444`%%%%`!11 M10`4444`%(`!T%+10`C*&4JP!!Z@BEHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" ML"WM+C_A([O=;%+26/\`>[B&23).",\@^HZ=?45OT4`6[QH]N0@D28 MN&7"!005Z]>GMS2:G9WE\7>WM799WAN5+LHVA5Y0\\'I[$M-W@ MF,LO=&=RI^OS5O44`5X+;[-$L4`ABC7HJ1X`_6I,2_WT_P"^#_C4E%`$>)?[ MZ?\`?!_QHQ+_`'T_[X/^-244`1XE_OI_WP?\:,2_WT_[X/\`C4E%`$>)?[Z? M]\'_`!H"R`8#H!_N'_&I**`(\2_WT_[X/^-5-0TN#4XA'>Q0R@="4.5^ASD5 M?HH`Y4>`]-$WF>;,5SGR\_+]/7]:Z2*%H8ECB\I$4855CP`/SJ:B@"/$O]]/ M^^#_`(T8E_OI_P!\'_&I**`(\2_WT_[X/^-&)?[Z?]\'_&I**`(\2_WT_P"^ M#_C1B7^^G_?!_P`:DHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\` MC1B7^^G_`'P?\:DHH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&) M?[Z?]\'_`!J2B@"/$O\`?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_O@_P"-&)?[ MZ?\`?!_QJ2B@"/$O]]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/\`O@_XT8E_OI_W MP?\`&I**`(\2_P!]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/^^#_`(T8E_OI_P!\ M'_&I**`&KN`^8@GV&*=110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444E`"T4@(8`@@@]" M*6@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"J.LA&TJX$DAC0KRVT MG`SW`[>OM5ZDZTGJ@1Q.@2Q+-:R*8"P*1"'+%@,,2ZDG&,YSP1P>:LZ].K7, MLBS'S"\7EE&ZP%3O(Q_#UR?I75I%&D:HB!55=J@#&!Z"A(TC1410JJ-J@#H/ M2FP.1+J)6"/^[5C]@PW!/F`';Z_X>U=;/-%;Q-+/*D4:]7=@H'XFG[1QP..G MM399(X8S)*ZH@ZLQP!^-'0.I4_MK2O\`H)V?_?\`7_&C^VM*_P"@G9_]_P!? M\:LO<01KN>:-1MW99@./7Z4+

-I1U0."P_"@"M_;6E?]!.S_P"_Z_XT?VUI7_03L_\`O^O^-7J* M`*/]M:5_T$[/_O\`K_C1_;6E?]!.S_[_`*_XU>HH`H_VUI7_`$$[/_O^O^-' M]M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"-']M:5_T$[/\`[_K_`(U: MDFBB9%DD1&HH`H_VUI7_03L_^ M_P"O^-']M:5_T$[/_O\`K_C5ZB@"C_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^ MO^-7J*`*/]M:5_T$[/\`[_K_`(T?VUI7_03L_P#O^O\`C5KSX?,:/S4\Q!N9 M=PRH]2*0W,"QM(TT810"6+#`!Z?#YC1^:GF(-S+N&5'J12&Y@6,R&:,(,$L6&!GIS0` MEO=6]W&9+:>*9`<%HW#`'TR*FIJ.LB!T8,IY!4Y!IU`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`52U;9]CS)&[C<,,D>_RSV;;WQ5VB@#E;>"8 M6L$MQ;R".W:&-T\LDE5!).WKU9>.V/:G>';>:VND7RYU+EVF2:$*$7`V;6QD M]AC/KP,5U%%`!1110`4444`%4-9<1V08VS7+!QL0(S@-V8A`7G2%Y-JA@=HV@X)(Z]A67?6DTM MJVZWF>2[A)CVQDE':3<>?X3@CKC[M==12L.YB>&XYE6Y>1-B,45`(C']U<$[ M3S_^JMNBBF]1!1110`4444`%8.IL@U,LMK,#"!*95@=O-8*=JA@,`#//Y>M; MU%`&+8Z8(+HHRR8>S5)'W-R0>0#V_#UJ[HT1ATJWB9"A5<;2,$/2+5)4*,L8!4C!_+M]*NT44,`HHHH`** M**`.;O$$U[S'T MK2FU-8[XVBVUS,X"EFC4%5!SC//L:X[PQX;U:PU^VN;JT\N%-^YO,0XRA`X! MSU-=<=,235Y+V8!OD01X8@@J3G(Z=Q0!:^VVI8*+F'+-M`\P/I3I/#4TD,<7F11C M9M=HR02=Y;/3G@T`:T.KV./0T= M`ZEP:K:?:[BV>58VM]F]G(5HD MES+;R22Q[96W8);YNI!XXH` MWUN[9V14N(F:0;D`<$L/4>M0R:I9QO$K7$>)"RAPXV@CJ",!1N//7CJ?Q.H=#9M]8L+GS?+N8\0_? M+,`!R1_3]127VJI921*;:YF$N`C0J&!)SQU'/%91T*[5+A?+MB'<,A24JW#, M?[N`<-[CBM,6$YM-.C9HM]LZL^T;5.%(X`'O[4`6X[NWDX$T>\$!DW#*D]B/ M6HKS48K5(2L(/A5^0C"8`.,D=:.@&BM];^6&ED6!MNYHY6"LH]QGBI!< M0ET02Q[W&Y5W#+#U'K6-?Z$\SS20[`=T1C&[#%4&"I8@X]>_2J]IX=N;>\MY M&=2BLCL1(?DVY^4#'/7KD=^*`.FHHHH`R)O$-I!/)$T1+?*/(S*=Z\@GZUJKIUQ)X::P9529E M889N.6)Y(S0P1:M]4MI8W:4M;&-@C+<80@D9'?'(J=KRU0L&N85*D!@7`P3T MS7/3>'[TQNL*6T*2,3Y2REMN5QG>R9Y[@`?6IHM"N((D816LTP=]RN3M8,H` M)..<8_(F@#8CU"V=F4RJC"4Q`.0"S#T]:D>[MD"E[B)0_P!W+@;OI7/7.@7T MCL$:WVLY;@[.,#K3;+4K6^M5N8I`(VSC>0#@'&?ID50U;2+F]GBF M@FCCDCBV!CD8)(S_`..[JK-H5W%#Y4'D%6#(=SD;%\W>,<<\<4(&;9OK?<%C MD64EPA$;`[2?7FF_VC:;ROGQ[57)DWC:.<8SGK6*WARX*PJDD,>U<.RDYSN8 MY''O4%QI-Y%^7[N3C=P<]. MU:.H:5+JL<-CUQ22: MA:1VSW!N(C&F02K@\^GU]JPO^$?O!!Y&Z!MP0^:6.8]H("#CD=L_7BGR:!<( MQ:%+5QY0C\MB0N=FTMT[']*'U!=#9&H0;XE9BGF0^<&;``7CJ?\`@0HN-2M+ M>V$[3HR,<+L8'=SCCGFJ%[H\]S#$@:+Y;7R6W$X)W(?3I\IJM/H-R99S$MLR M3,5(&W&,\GL>2 M,C\0?RKGT\-W>R6(R1@.-GFER3C?NW`8&#^)Y)Y]=S3;&.SASY2),ZJ)-C$J M2/3/0>U)`R[1110!G?VQ;_W)?R'^-6)[V*"T6X?=M?;M4#+,3T`'K6/_`&;= M_P#/'_QX?XUHW5I-+86ZQ;1/`R2*'/RDKU!(_'F@"%M?A5_+^R7AD4%G01C, M8&.3S[CIFI1K5F8C+N?RPVW=L./N;\_3!JL-+N+V^-SJ141F,H(89G&T$C@D M8W#@YSZU9@TJ(+3[U)0`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!69<:L+6]FADC9U41A!&N69GWOWU$>3'R!SSZ MD=,]:0^'H-AC2YN4B;!958#U"!FK1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 H0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!__V3\_ ` end GRAPHIC 19 tf1_a0415x47x1.jpg begin 644 tf1_a0415x47x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M_0*N`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`J&[N$M+26XE.$B0L?PJ:J&LZ<=5L3:>?Y*,P,A"Y+*#G'4 M8^M)C1FZ)XB>YMKI]41+:2W42D*#@QD9!ZFHQXJ!U`C[-,EFMJ9VWQ$2'G&1 MS@KCFGS>$+/S2;-VMHI(FBE3E]X/0Y)XP<&I;+0)H[U;F]O%N=ML;;8(=H*_ M7-/^OZ_`0:GXBAMX9/LKAI$2.0LR%D"L1CH1S@U8.OV@U$V2I.[JP1W2/*JQ M['O^E4(_"21Z1/8B[)>:17,K1Y(5<87&>V*=?>&7O-6%X;I%4.K@K"!(,=@P M(S]2":`+8\16)O/L_P"^V^9Y/G^6?*W_`-W=ZU+8:S;ZA=RV]O% M$R#@C/K5`>&7$HA^VDZ>+C[1Y'EC=NSG&[TK2TG3O[-BG3S?,\V=YL[<8W=N MM"\P?D9<>I:SJ#7-QID5J;>"8Q+%)G?+CJ'KE9)X[+4WMK.XD\R2-8P6!/7:V>,T7/AMI5O_+O64W;1MRI. M-HQACGY@:%L-DI\46`@\PI<"3S?)\DQX?=UQC./UI\WB2SAC@)BN6><%EB$7 MS@#KD&J`\)NMI+"MU`1)*)2AM1L'&,8SD?4$4DOA)VTZ"T%Y&XCW9$L&X#/] MTYW+CTS0(W9[](M/%VJ,P<+L0C:6+'`'/3DU"VILFI1VDEL5$C%5?>,D@9)V M]=O;/K44VFR0Z+;VT+M/):LCJ6ZOM(.*2]TJYNY_,^U(JJQ>(F+YT.T@#=G[ MN3GIF@.@Y-:5Y;1/L\G^E.RJW\(4;L'..I"YQ3)]<*33QQ6C2^3N9B'`^1<9 M/3KDD8]JM/IRE;!8WV+9L&`QG=A2N/;K51M%E$2"*Z5)&B>*9C'NW!CN)'(P MM`#X-;CN=3-I"L9`(^9IE#'*ALA.IZU?NYI((=T,#3R%@JHIQU[D]A[U MGOHSRND4EPILXW$BH(]KY"XQO!Z>^,^]/GT91`ZV$\EM(_#.SO)\O<8+<9]1 MS0`T:T6A0I:.\Q>1&B1LD%.N#WYP/QJ.77FA5TEM0DZ2B-E,P"`E=W+X]/;K M4D>EW,:'93DG:6.3P._:HAHDP@A7SK9GA?RJO%XB2::VB2*,-/$DF))U0C< M3P`?O'CM5G2]*_L^.1&F\TLJHK8QA0.GYDU6&AS"TCL_M:&W"1H^81N.TY^4 MYXS[YQVI]0Z#[C66BD1!$H83F*4%@2.F"!D$Y#`\5L51T^"1)[RXE7:9YLA? M15`4?GC/XU>I=`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*Y+4?$D]OXC$:3Q MBP@D2&9#MRQ;.6'?`XKK*QQX8TPVX;'%'4.@VX\11P2 MW$#6S&XBG2%(PP_>;NA'MC-00^+;:6_^SB'$;.T:2>:I)8>J]0#V-7AH-I_: M%K?,TKSVT8C4L1\V!@%N.3S44/ARV@NS-'/<+&69Q"&`4,>O;)'L:`*T?B:6 M33A??V:4A=@L;/<(H;KG)/3&*6'Q0+J*U^R6,DUQ/O/E"11M"]3N/!]JL2>' M+9K"SM$GG06C;HI`5+?CQCOZ5G7WAV6U6V_LQ9YC&SDN+@1RC=VSC&/UH8$C M^,(!:6\J6W[R8.VQYE0*JG'4\9/I6J=7@.A'55SY7E&0`]<^GY\5EV/A91I= MI'<320W<(8%X2#PQR5Y'/UK4N=&M[K38K"22;R8RI/SY+X[,2.:&N@=3#T/Q M'.X/\ZNQ^)\K,9K"2';:_:HP9`=Z?ATJ>Z\, MZ=/)OCC-KF-HF%N%0,K>HQ3Y/#]I(,-)-_QZ?9.&'W/7IU_SBA_U^/\`P`_K M^OQ*L?B?*S&:PDAVVOVJ,&0'>GX=*?/XD6+8%M6)9;S[$;8>03?+!,H99`RD=F_J*UM?-W'ILMS9WAMF@C9R!&K;\#I MSTJ"+PS:QNCFXN79;A;C+,O+@8_N]*U;NV2\M)K:0L$E0HQ7J`1VH>V@UN8% MGJU[;V]FLC2:G>7L0F2(!(A&N,GG_/2DTWQ)<:EK:PPVK"U\@LP)7M"ZTBWNM(73)'E$*JJAE( MW87&.V.WI0/J<_I^OW,=W<22W@6=W=/<.9%:2+RI50@+(.V>.HXY]J@'ABW- ME/;27=U()@JAF8?(%.1@`8[#F@0UO$GE6U_)-9NCV7EATW@Y+=LCTHN/$;Q7 M-[''I[R162[I9?,``^7(X_2DG\*V]P9?,O;S$ZIYP#+^\*]">*NMHMLRZ@I> M7%^`)>1Q@8XX_GF@"'2]<-_>BVELWMV>`7$99PVY"<=NE;%9]MI-O;7<-RCR M%XK86R@D8*@YR>.M:%-@%%%%(`HHHH`***K:A-+;V,TT$?F2(N57!/Z#DT/0 M"S17.6VNW@L[>YG6UDBD!SY3$LV%))QVQC!%6TU6=;*Y>>./SH@A4(3M._&W M]3S0!L45@G6KE7=&BB+6Q_TC&>1NVC;^'/-6],U*6\F*RHBI)'YL17.=NXC! M]^A_&@#3HIC!R?E90/=<_P!:3$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!] M/^^#_C0!)14>)?[Z?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X M/^-`$E%1XE_OI_WP?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^ M-`$E%1XE_OI_WP?\:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`2 M45'B7^^G_?!_QHQ+_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245 M'B7^^G_?!_QHQ+_?3_O@_P"-`$E%1XE_OI_WP?\`&C$O]]/^^#_C0!)14>)? M[Z?]\'_&C$O]]/\`O@_XT`245'B7^^G_`'P?\:,2_P!]/^^#_C0!)14>)?[Z M?]\'_&C$O]]/^^#_`(T`245'B7^^G_?!_P`:,2_WT_[X/^-`$E%1XE_OI_WP M?\:,2_WT_P"^#_C0!)14>)?[Z?\`?!_QHQ+_`'T_[X/^-`$E%1XE_OI_WP?\ M:,2_WT_[X/\`C0!)14>)?[Z?]\'_`!HQ+_?3_O@_XT`245'B7^^G_?!_QHQ+ M_?3_`+X/^-`$E%1XE_OI_P!\'_&C$O\`?3_O@_XT`245&!)D9=,?[I_QJ2@` MHHHH`****`"BBB@`J@-7M&UAM+#-]H";SQQ],^N.:O5S"^'-06Y6_P#MD1NQ M&&$(&?FYXJ::]AAGBA)+ M/(^S"X.TX)Y]!Q7-_P#"*W$LZ).+7R$>8F4$^9('!QGCJ#[U/!X9)W).&&PJ`.,],>G>CH-G0)=VTB.Z7$3)']]E<$+]?2D-Y:B)93^2TFA+VZ@F,JC'>'*G."VT';['-68O#DS/`]PMMY?VMKB2W M7)15*XP..?TH$:]_JL%B8D*2SRS9*10)O9@.I^E-M]:M+EK<1EQY\;2`LN-H M4X.<]#46I6%T=0MM0T_R6EA1HS'*2JE3Z$=#5.\T?5+M(I)9[5[A;>2-BR_+ MN8C&!CD8&.?RH`VOMUIY/G?:H/*SC?Y@VY],TYKJW61(VGB#R#**7&6^@[UR M?_"*WOV=P1!N,WF*HF((&W'79C_QW\JF;PW?_:K68-:[XTC5W'"_*>?D*D'V MQMH`WM-U.'4O.,*.HB?8=Y7GWP"3CCOBKU5K6QM[-I&@0AI#EBSEB?0=4G`A0/M9,%U)P"O/.35>;2]3FU<3NUJ;:)2ENN]LQ<8W8 MQ@M^-4=/\-7MNZJ_D)"7B\U4=F\S82V[D<$G'%"$;:ZY8O+=QI(6-I'OE*C( M'7(SZ\5-INHIJ,)EBAN(E&,>=&4W>X]15&?1Y7O=0EC%OY=S;K$J.#C()SN` MQP<]C3M`TR?3AXJ:B M@#$L/#D=F,F\N)"Z;)%.S:PQR!\N0/H:F_L4"`PBYE99"/-=MNX@+A0..,'! MS[>]:M%`&5_84!*EIYBQ.9C\O[[YMWS<>OICBK%EIL5E*\B22/D;4#XPBY)V MC`]3W]JNT4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`54^P_]/5U_W\JW6+%YMOKU^RF6Y8P1 MNL98#&6;@=`!0!?^P_\`3U=?]_*/L/\`T]77_?RLO4HI_M5N\3-;'4"(+A,@ MD8!.01QNP",^X]*SK?6[R!95)C2...0"(!6,.TX7@'/_`'T?>@#I?L/_`$]7 M7_?RC[#_`-/5U_W\K`L=6O[RZCM5NU&9RGF!4KK_OY5NB@"I]A_Z>KK_O MY1]A_P"GJZ_[^5;HH`J?8?\`IZNO^_E'V'_IZNO^_E6Z*`*GV'_IZNO^_E'V M'_IZNO\`OY5NB@"I]A_Z>KK_`+^4?8?^GJZ_[^5;HH`J?8?^GJZ_[^4?8?\` MIZNO^_E6Z*`*GV'_`*>KK_OY1]A_Z>KK_OY5NB@"I]A_Z>KK_OY1]A_Z>KK_ M`+^5;KG=0EU54U3S45;<1#8T;MD9!Y7CZ9]*`1K_`&'_`*>KK_OY1]A_Z>KK M_OY63H5PMO#>(KPRXD'E+`_[MSLSM3)Z\'-9K37+1WZW22QR2RP&1IB%C3)Y M!P?NXX^E`'4?8?\`IZNO^_E206WDN6\Z:3(QAVR*YB*"1["&ZCF#&WF9(E7) M5SO!7RSG@'[OTS6OX?NUFADMPF'BY=]V=Y);)/H<@G'N*`->BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`*J?;O^G6Z_[]U;K,T_6%O[R6"-(PL;,I/G*7X. M,[.H%`%C[=_TZW7_`'[I/MHR3]DN:O'97$D5Q$RG8'AP<^<>FT> M^2./>GPZO9NK"2:..2-2TBYX7'WL'&#@\<4`/%Z``!:7(`Z`1TOV[_IUNO\` MOW47]M:?L#?:,9?8`4;=NQG&,9Z5?H`J_;O^G6Z_[]T?;O\`IUNO^_=6Z*`* MGV[_`*=;K_OW1]N_Z=;K_OW5NB@"I]N_Z=;K_OW1]N_Z=;K_`+]U;HH`J?;O M^G6Z_P"_='V[_IUNO^_=6Z*`*GV[_IUNO^_='V[_`*=;K_OW5NB@"I]N_P"G M6Z_[]T?;O^G6Z_[]U;HH`J?;O^G6Z_[]T?;O^G6Z_P"_=6Z*`*GV[_IUNO\` MOW1]N_Z=;K_OW5NB@"I]N_Z=;K_OW1]N_P"G6Z_[]U;JLM_;-/-%YJAH0&?) MX`.?\*`&"]"C"VER!Z".@WH(P;2Y(/\`TSI-.U%+^UDN%1HT1V7YNI`[^U9\ M7B2.33Y+SRHMB[``+E26+/S$ MLFT$_P"-9S:^J&UWQ1D3_P`23!@!N"\$?>ZY/H*TK.X-U;+/Y917R5!/)7L? MQ'-`$]%%5[^Z%E92W)7?Y:YQG'Z]A0!8HK(L]:,R6WG6K1--$TI(.4`'/![Y M_2G6NM+/I]#W5O&`9)XE!&1N<"@":BJCZE91R)&US'N?I@Y M'Y]JM4`+1110`457N+ZUM@QFG12O5<\_EUJFEUJ5U^\MK>&&'^'[1GOKCT]ZI^+%+6UN!)@"0$Q!RAD&1T/J,]_P"E M-M?%^ESZDEA")`&81QR;?D8]`!W_`$J?Q-=V5O;6Z7EF;PRS*(X@H)SGM_AW MZ4F-%2XEG9WDAO7"3:?NB\QMFS)4`DCOSUJ=991HU["CF.XA/<@=:?]?B+^OP,L74[->C??\R:VE8&0NT87S0#@GUZ^M"!FQ1110`E97]CO-<(UW<+)%%O\`+6-/ M+;YC_$5/\@*UJJ?8?^GJZ_[^4`-FTY)&LMC;5M)-X#98GY2,9)SW_2LI/#)C M,GEW8C^5Q&ZH=XW'N=WX<8K7^P_]/5U_W\H^P_\`3U=?]_*`,^PT!K6[2Y>X M5BLAD**AQRFW&2Q/OFMNJGV'_IZNO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[ M^4?8?^GJZ_[^4`6Z*J?8?^GJZ_[^4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1] MA_Z>KK_OY0!;HJI]A_Z>KK_OY1]A_P"GJZ_[^4`6Z*J?8?\`IZNO^_E'V'_I MZNO^_E`%NBJGV'_IZNO^_E'V'_IZNO\`OY0!;HJI]A_Z>KK_`+^4?8?^GJZ_ M[^4`6Z*J?8?^GJZ_[^4?8?\`IZNO^_E`%NLR70=/E>X=H%4S@!B@"D8]".1G MOZU8^P_]/5U_W\H^P_\`3U=?]_*`(++2VL4F2*Z=A-(78R9<@$=!D]?>UY#]H1%C0BW`4JIS\PSU/MC':KOV'_IZNO\`OY1]A_Z>KK_OY0!6 M723]B>!Y59IIC),P7'!/S!1VR..O=1)&K[MJ<`L`.,^F/QI&TFZ:*1'GB9YROF.L6T*$'RD+GKD#/]*VJ M*`,4Z%(SEVNEW3'_`$C$?WANW87GCT[U9T[3&LI2SS"153RX@%QM7)///)Y] MNE:-%`#&0,4OJ_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_`-]G_&I**`(_ M*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T>4OJ__?9_QJ2B@"/RE]7_ M`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\`OL_XT>4OJ_\`WV?\:DHH`C\I?5_^ M^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[[/\`C1Y2^K_]]G_&I**`(_*7U?\`[[/^ M-'E+ZO\`]]G_`!J2B@"/RE]7_P"^S_C1Y2^K_P#?9_QJ2B@"/RE]7_[[/^-' ME+ZO_P!]G_&GDX&3P*SGUJV#L(HYYPOWGB3*C\:`+K)&BEF9@H&23(<#]:J+ M?Z9"/ZU1U"[-Q`\UV'L]-BP7+C#R>@Q5*/Q3X;G7;)"8P@ROF0`Y M]AC-`&I_:0ER;2TNIT'\89@"?:A+'49QOFOF@#<^7&,X'IG-84GC2[N'<:5I M3RQ*,!BI8@]LA>GTS4,'AO7-9B$^J:C+`LG/DMDD#_=R`/I0!>U>_P!(T:9! M%_*203VP#@$!I"2,^H)XING>"=-LV9IR]TS*5Q)@* M,]P!W_&G+X(T8;LQS-GIF0\4`.DOO#,$@MC/!F;'W267GIEAP/Q-303'3/\` M1[T2F`'$4ZL=NWL#@\5G3>!-/6RG6!YFN&'[MY&&%/;@`=>AH\%:GY]K+I%[ M_K[/IB@#6DO6FF:+3HC.5^](92$'MUYIKIJDX$/D_9PQ^:99B MV![#-3W%_I>BQK%-/%;@\A,Y)]\#G\:HW_B[2K6R,\$ZW,G18D."3[^@H`T8 M=(LH<$1;G'.]B2Q/K6+?^,-)L[AH4^T7#*<%HF^7\R>:S,>)O$T?.VSL9.WW M0R_^A'^1KI-&\.V.DP;$C6:4_>ED4$GZ>@]J`.<_M[6]:GD&A6K)"@P69\G/ MJ23C/M3X_"&JZ@`VKZJ^"H/;'\LUMT4`8,^@SW$ M@#W.U39"W>1?OLVX$G![''ZU!:Z3?VUC<:6_D7$3QTK MI:*`./\`^$1NV@$@O`EP9=Y0G>JY8$X8@DG@?7%:^D6&HP:C=76H&VD,PP'C M9BR@=%P0`!U_&MFB@`HHHH`*YK4!/#=ZN8YYG8VJ,.>4!9LA<=,"NEJI]N_Z M=;K_`+]T`9NES>5<72:?`;BR,BA#'(NU/E&[&3R/IWS5*^2>RENX86\RWLT% MU#$1G#,2`#ZJI!./IZ5O"]`&!:7('M'2_;O^G6Z_[]T`<[_;MY]G*M53 MOMW_`$ZW7_?N@"W153[=_P!.MU_W[H^W?].MU_W[H`MT54^W?].MU_W[H^W? M].MU_P!^Z`+=%5/MW_3K=?\`?NC[=_TZW7_?N@"W153[=_TZW7_?NC[=_P!. MMU_W[H`MT54^W?\`3K=?]^Z/MW_3K=?]^Z`+=%5/MW_3K=?]^Z/MW_3K=?\` M?N@"W153[=_TZW7_`'[H^W?].MU_W[H`MT54^W?].MU_W[H^W?\`3K=?]^Z` M+=8CW&LQ75\PMHY8U5?*56/)YZ9`![9YK0^W?].MU_W[H^W?].MU_P!^Z`,[ MPY/MMYXKAI5D-RP#3D!G;J0,'KP>*I2*T*WTI%#F>P]Z=<>(FC` M+W.GVRMT!D\QA[X7-`'25!->6T#;9IXT;T+#-2*.-]/AQ&``0-I/U(Y/XUJ9!& M<\5#)=V\7WY5'L#D_I0`Z"WAMHA%;Q)%&O147`J6JG]I6G_/7'_`3_A0=1ML MX1F<^BJ30!;HJG_:,2_ZR.:/W9*#J,+<0K)*WHBF@"Y7+^(_##74W]I:4WDW MRG<0#C>?4'L?YUN?:Y_^?.3\Q2_:+L]++'UE%`'+:-X5FOKB:_\`$:N\LA^6 M,OC/'4[3QZ`>U;$7A'18KA9EM,E3D*TC%<_0GFM#SKWO:*?82"C[3=G@61S[ MR#%`%NEJGB_D[Q0CV^8T?9)V^_>2'_=4+0!/E&..XS[M0(Z`.I`(88;ISUI0020"#CK[5QL MOV+[")(GM?/:3S8XHVW!!N7,<9!P'X'3U]*N^'"/[4E(*$O&[,J?>0^8>)/5 MN>#QP#0!TU%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%1SSQVT+S3-MC098T`2453M=4L[N. M)X9U/FJ64'@X'7([8IT6HVDUM)<1SJ8H_OLN<<^G/'/>I+>]M[J22."4.T9PP';_'H?RH`L4457FO;2!PDUS#&QZ*\@!_6 M@"Q151=2L71N\H8^W6@#H[C6;2`??W'MV'ZU2?Q'&A!/EX;HN3G\Z9;>#]-6WVWBO=7## MYIG<@Y]N>*ANO!=A]DE^S&;[4%S%(\F<,.1_A0!M1WX^3SXS&K@%7!RI_&G7 MFH0V>P,'D>3[J1C)/O7%V_BF?3X#87MMM9."LJ'C_P"M5`6RWZ' MB@#D-/T(7]S/9QZ;C3O[.M,8\D?F:M44`5#IMH3GRO_'C4L5M!%_J MXE4^N.:FHH`3K0`!T`%+10`4444`%%%%`!1110`4444`%%%%`!3)(TE7;(H9 M<@X([@Y%/HH`*88T,HD*_.`5!]`<9_D*?10`A`.,@''3VH``)(`&>OO2T4`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%5=2C,VGS1K#YQ*_ZO=M)^A['TJU12>H',Z?IMY+I M]L98MDI@DCWO@.JE0$!Q^/\`6GM!=&TF5K61);@QJD>5_P"6:Y.3G`!P0/PK MHZ*8',MI]Z\L[_9F`O#T++^Y^<'+<^G/&>:NZ-:7,$X\^(QB&'R=Q(/F'<3D M8/3&.OK6S10!CZC;ZC<7+QP@?9VQRTF%Z*BA\-01J=QAW'ND`7^IK= MHH`Q'\/!X]HO94_W545'#X;>,C=J$A4'HL8'\R:WZ*`,C^P+8[M[.V[UDD&/ MR:F#PU88Y1F]S))_\56U10!FVFC6ME)YD$,0D'1W#.P^A9B15[$O]]/^^#_C M4E%`$>)?[Z?]\'_&C$O]]/\`O@_XU)10!'B7^^G_`'P?\:,2_P!]/^^#_C4E M%`$>)?[Z?]\'_&C$O]]/^^#_`(U)10!'B7^^G_?!_P`:,2_WT_[X/^-244`5 M;FSCNUVW,5O,OI)%N_F:2UL8K-2MK%;P`]?+AVY^N#S5NB@"/$O]]/\`O@_X MT8E_OI_WP?\`&I**`(\2_P!]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/^^#_`(T8 ME_OI_P!\'_&I**`(\2_WT_[X/^-&)?[Z?]\'_&I**`(\2_WT_P"^#_C1B7^^ MG_?!_P`:DHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\`C1B7^^G_ M`'P?\:DHH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&)?[Z?]\'_ M`!J2B@"/$O\`?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_O@_P"-&)?[Z?\`?!_Q MJ2B@"/$O]]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/\`O@_XT8E_OI_WP?\`&I** M`(P),C+IC_=/^-2444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!129&<9&3VI:`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`.5U1XHO%4;[M\IB*@?, M&CX&",?>'7CZTEM-'!HEU#'-`ZC8!/"2/,!`+]23D+G./R%=08T,@D*C>H(# M8Y`/7^0H,4;,C%!E"2OL3W_4T+8#D6=1(PC?]VC'[!AN"?,`.WU_P]JT?#[[ MKM]K%G,.;GG.)=YZ^AQG\,5O[1QP..GM0`!G`Z]:$!5GU/3[>5HI[ZVBD7JC MRJI'X$TS^VM*_P"@G9_]_P!?\:M&:(3"(R()2,A-PR1ZXIJW=LQ8+<1'8,MA MQ\H]30!7_MK2O^@G9_\`?]?\:/[:TK_H)V?_`'_7_&K<4L? M#YC1^:GF(-S+N&5'J14;7MHGWKJ%>`>9!T/0T`0_VUI7_03L_P#O^O\`C1_; M6E?]!.S_`._Z_P"-7$=)$#QLKJ>C*<@TZ@"C_;6E?]!.S_[_`*_XT?VUI7_0 M3L_^_P"O^-7J*`*/]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU>HH`H_VUI7 M_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7JB%S`?,Q/'^[.'^I*`*7 M]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU92Y@D0.D\;*6VY#@C=Z?6G"6,J MK"12&.%.>I]J`*G]M:5_T$[/_O\`K_C1_;6E?]!.S_[_`*_XU>HH`H_VUI7_ M`$$[/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"-']M:5_T$ M[/\`[_K_`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU=9@BEF(5 M0,DD\"HTN8'4,DT;*5W`A@01Z_2@"M_;6E?]!.S_`._Z_P"-']M:5_T$[/\` M[_K_`(U:\^+S%C\U/,8;E7<,D>H'I4E`%'^VM*_Z"=G_`-_U_P`:/[:TK_H) MV?\`W_7_`!J]10!1_MK2O^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM* M_P"@G9_]_P!?\:/[:TK_`*"=G_W_`%_QJZS!%+,0J@9))X%1BY@9%=9HRC@E M6###8ZXH`KQZOILDBQQZA:.[$!569223T`&:NU$;B`2+&9HQ(XRJ[ADCV%2T M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!@:N3'J4()KVY6*VFA8;H ME;R'_>,^`SE\8P!TY[5!7YS$2-K;0A!Q@XX^FTUU=%`$5M! M':VT<$0VI&H51["I:**`"BBB@`HHHH`2N4G@-VEQ':VTUN\I$2(T#IA5)?<6 M(P22/7O7644K#N<;/;R-"TT-M*J%?+5'MF(+>7M/R]0(1A4V*N2!D_-G(]/:IX;(BRTDF&0/!*!MY^0<\D?ER:W:*`"BB MB@`HHHH`****`*NI%%T^8R6[W"A<^4BDE_;`K#L['[18ZFSQR$R+@)Y;QY;E MB`I`.,L![XKIJ*0[F`\9_M+3]EO*LJ%"Y,1PPV$9W=MN>GO6_115""BBBD`4 M444`5=2*+I\QDMWN%"Y\I%)+^V!6''9?:K>=6CE($$DC+Y3Q`R.<[0"`<#;C MWS[UTU%(=SGA%)'JUL\:3^:RQ*RO`#'L"G)#XR",^HY[&NAHHJA!1112`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`.?U/Q?I^EW\MG/#TC6;;5[&2[MTE2.-RA$@`.0`>Q/K7)>)_#>K7^OW-S:VGF0OLV MMYB#.$`/!.>HK=\(Z7>:=HEQ;7D7E2O*S*-P;@JHSP3Z&D]AHTK35H;F'SGB MFMH2H99+@*JL#Z'-63>VH#DW,("'#_O!\I]_2LR+0DBL+.!5C+1O&\VYBRMM M'.,__6JE!X?N_MJ2S_9S&K@E0W!`8GA0H`Z].?K3ZBZ&S/JMK`LK,^5CV<@C MYMW3'/-2P7UO/L`D59'SB-F&[\LUSS>&KP`,DL!;:$VL3M"YR2..#T_#-6;/ M09X'1W,!=9HWW`G.U=V1T]Z`-.35;6*ZN;=RP>VA\Y^.-OM3[;4;6YA25)D7 M=&)2K,`RJ1G)':LW4-$GN]2>Y22-4?8C@YRR#.X=.Y"_K6?#X;OT1$D^S,$C M*\2%0WR@#&%!!XZDG^E"`Z<75N?+Q/%^]_U?SCY_IZT@O+4Q^8+F'RPVW=Y@ MQGTSZUS\NA7[PP!/LPE4$;F((`W;@&&W#_7`.>:2VT*^A.^/2I3O3T'6I=$TB[L+L/*MNB",JPC8MN/'(RH*].><'THZ@78-9BEGEC MDM[BW$7^LDF"JJ\9&3FKJW$+8VS1G.`,,.1Y8HS%'Y1,3'=CD[@2N,C.!QT)H`U5U1'O9+=;:X M(B;8\VT>6IQGDY]#Z592[MI&58[B)F;)4*X)..N*S8]%"F]D8[YYBPCD+GH4 M"_,.F<@]JH2^&YVG01NB1E$!97QL*K@X7'.3SU'4T`='%-%,I:&1)%!P2C`C M/I4E9&@Z9-IR3>=M!?:`%?=]T8ST'Y5KT`07EREG;//(&*)C(7KRM6M8@DN=,FAA7=(VW`R!_$#WKG[+1M0BO8)'M\(DB MLQWKP`?K0!O7^JQ6,PC>&>0[#(QB4$*HZD\U8%Y;$D?:(@0H8@N`0#W([5EZ MWI$NH72R+#!*HA:/$DK)M)/7Y0<_2J,WAZ_GF8R20.O(+$XWY`_A"]>.-G5MI4."0?3ZUBS:-<-]HBB MBM!&[ETE.=_)'R\#@#'OVJC/I-]:I-<,4\XX$'E9;]YOR.`HVCJ.2?K0!U$= MS!*[)%-&[KR55@2*HKKMDUNDP+[7N/LP&.=^<>O3O5;2=&FT[4"RB(6X0KP< MEB<<\C*].><'CBJT?ARY29&,L6Q9%EVY/W_,!)Z?W`!]:.P&^]U;HNYYXE7& MG;^6:.@=3=@OK>?8%D59'!(C9ANX]LT@O[9YHHH MY%E,I8`H0P!49()KF[31+U&EM1';J8_+/G\X!`)PHQR.<'GUJ[I.BW=K?I5YI3Y"^,XSGTJP;VT";S=0A,[=WF#& M?2L2XT"XFO9Y5$,9DE9Q<"5BX4KC;LQC\;+';1@1&,1J21G85#= M.IS^0%'0?4VVOK=;V.TWAII`3M4@XP,\^E)#J%K,BMYJH79D578`DABO`^HK M,T[2+FUO8'D6!DB+L90QWMN4#&,=!CU]*C;09V1\F`L48*23P3+O]/3]:!=# M6.I6@N9(#,@:--[MN&U1G&">QIT]];P0F1I5894`*022>@_&L"3P_>-MP(!Y M(`!20AIL,3DG;QU]^:EMO#TJSP-.(6C2/RV0.V2#DDYP.1G`]L],XHZ!U.@A ME2>%)8SE'4,I]0:?3(HTAB2*-=J(H51Z`4^@""ZN4M8P\@8@G'RU':W\5U(4 MC5P0,_,!3=4@DN+=4B7A/Y'IFJP\0VNQG>&Y2/#%'9!B3;UQS['K3[BVOXKR>6Q\DBY M506D8@Q$`C(&#NX[<567P^!I[99%5VD2(F:5D^3()'.Q=H[>G6F?V"C$[[VZ?-,EN27C4L-PX8#C(]LTB:+;(%`>7"A M0.1_"^\=O7]*++1K>RDE:-W(=2@7"C:"<]AD_4YJ>@RMI.LR7,,9-INHF_GN5\EXDCV;-ZX8@C.: MT*IV&GBR,A\^69I-H)DQP%&`!@#M5R@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH 7`****`"BBB@`HHHH`****`"BBB@#_]D_ ` end GRAPHIC 20 tf1_a0415x54x1.jpg begin 644 tf1_a0415x54x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M1@*R`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`Q;_4+^75_[,TSR$=(O-DEF!(`S@``5''JVHQZAIUI M?6\,3SK(9=I+?=&05Y[^AS4^H:1/-J"W^GWGV6Y\ORW)C#JZYST]:AB\/.DU MG*VH3226Z2`NPRS%QC(.?EQZ4(;'IXFL"T@D2X@"1F4&6(KO4'&12KXELOL4 MET\=S&B%1AX\%\],=C^=4+3PE);R%S?1[_*>(D6P);/=LDY/UHMO";PV]T@N MXE:<*-JP`Q\'J5)/)]L8[4"-W3[^/4(#+''-'M;:5E3:?_K_`(5D6OB*6;Q" MUFT2"R9VABFPXMI?[4M[E,D&)X79>JYP0W/N/UJM'HLQNTN M+BYC=@4W^7%L\P*206Y.6S@_A0@))=:5);R,6\FZV16&[Y?,8D@`9'3(QFHS MX@1(WFDMV6'9(\3[P?,V=1CM[5/<:69]2%UYV$/E[H]O786(Y^I'Y5`NB2KA M/M:B.(2"`>4"5WG/S9)#8Z=!0'4N:9??VA`90L0`.!Y#QCITH8(237)/+EFAL7D@BW,TA?:-H`SU'7)(Q[4Z/7$DU%;40 M,`S!0Q8;LE=V=O7;COZTQ]'N6AMHA=Q%(LO(DD)99)".>(Y210RGV-2U5TVU-EIUO;$Y,484GU/ M>K5-[@@HHHI`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%5M0NTL+">ZD M^[$A;'J>PJS5/4].BU2V%O9OW#+4>!3%9F2X,X@\I M)E8;B,@AAP0:?<>)S:7L5O*<3A MF8*UBS,;&0V?G M^0+C>.2.IV]<5+I'B>#5+U;80^49%+Q'S5<<7&8]O?"8R"?KBMS3-!ATV<217%PZJI6.-V&U`?H.?QH6VH/R*7BS5[FQ\ MBVL)XX;APTC,^W`51TY]34I\1[HM/^S6C7,M[$SJJN%P5Z@D_C^579=$LI]1 MDO;J(7#N@0),JLB`>@(J"S\.6=G=0SQ23_N6=HT+#:N_J.G3TI`RNOB?SH[( MVUA)++>*Y6/S`NTJ>02?QHL_%,-VDC+;.OEVK7)!8=B05_3K5JT\/VEH]F\< MDQ-H'";F'._KGCWJJ/"5FB*D5U=QCRFB?:RY=22<'CU--C&WWBE;."WF-GN2 M:%9CF95(![`'EC5G1]0GO-6U.*23=#"8_*4J!M!7)J*?PI9S8'VBY1?(6!@K M+\RKTZC^5:%AI4.GSW$T3R,\^S?O(_A&!C`I]Q=#'U>;4[76K6!-6:*"Y\QC M^X0^6%&<9F4>VUU*7WVX<*H M(VL&&#GBJ=GX(-7N;/7/LXOY;2V% ML)"8[=9#NW$=QQ1!XGN+/3;7[?$);J8,XW.L(,8Z,<\9/I6[)I=O+J3WTFYG M>#R&0XV%I(ZY.:CB\+VR+()+NZE+VYMLLR_*GMQ3?\`7X_\`7]?E_P2-?$ERQM4&DR> M;=JSPIYR_,H`.2>W7]*U=)U!-4TZ*\1&C$F?E;D@@X/\JC_LBW^TV4^^7=9Q MF.,9&"",<\5+IMA%IEDEI`SM&A)!<@GDD]A[TP+=%%%(`HHHH`****`"BBB@ M`HK&N=3NXM?CLU2$1-&64294R''\+=,^WUJ$ZQ?!G@\JW:="Q+`G9A5#,OU& M0/\`.*`-^BLB[U:2-HVAC0QB)9I=V<[6(``]^I_"H%UNY=HT6*$-=8-N3G`! M)'S>^!GCUH`WJ*K6-RUW8QSE0CN.1U`(X/ZU+B7^^G_?!_QH`DHJ/$O]]/\` MO@_XT8E_OI_WP?\`&@"2BH\2_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_ M`(T8E_OI_P!\'_&@"2BH\2_WT_[X/^-&)?[Z?]\'_&@"2BH\2_WT_P"^#_C1 MB7^^G_?!_P`:`)**CQ+_`'T_[X/^-&)?[Z?]\'_&@"2BH\2_WT_[X/\`C1B7 M^^G_`'P?\:`)**CQ+_?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_`+X/^-&)?[Z? M]\'_`!H`DHJ/$O\`?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_O@_P"-&)?[Z?\` M?!_QH`DHJ/$O]]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/\`O@_XT8E_OI_WP?\` M&@"2BH\2_P!]/^^#_C1B7^^G_?!_QH`DHJ/$O]]/^^#_`(T8E_OI_P!\'_&@ M"2BH\2_WT_[X/^-&)?[Z?]\'_&@"2BH\2_WT_P"^#_C1B7^^G_?!_P`:`)** MCQ+_`'T_[X/^-&)?[Z?]\'_&@"2BH\2_WT_[X/\`C1B7^^G_`'P?\:`)**CQ M+_?3_O@_XT8E_OI_WP?\:`)**CQ+_?3_`+X/^-&)?[Z?]\'_`!H`DHJ/$O\` M?3_O@_XTY0XSO93]!C^M`#J***`"BBB@`HHHH`*BN)XK6!YIY%CB099F.`*E MK+\0V4U]IOEVX#2)(L@0G`?:FSP--%=*R*ZHW!!!)P.,9YK0KG+ MN#4-2MYF.F);L9H2H++YCA6!)8@XP.U8MWHNLS7;YU%":.X@2:%P\YE6.->K&IJH:U]I_L]OL5HES<9&Q7VX4_WN?2D MP0O]L:?]GBG^U)Y4N[:W..!DY],8[U'_`&]I?V7[3]L3RMVS.#G/IC&:Q[33 MKN*,%]-:1H8)#YG(EI.;J"W:-7BN0AB)9F#2A`'('5LI]S4U%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5!=0O/&%CF:(@YW+_`"J> MH;L2M;2""0128XC` MV/[/N/\`G_E_7_&C^S[C_G_E_7_&LQO$EP1#(D";3Y?FKAF*EFQ][H/;KGVK M5TB[N+VW>>=8E0NRQA,YP&(YS]*`&_V?7%CI\DUM"9'`ZY&%]SD\T`) M_9]Q_P`_\OZ_XT?V?9&-K^^C$D?!8@N!C<#@"I] M88+#&6N)HQNP(X.'E..%!ZCUH`/[/N/^?^7]?\:/[/N/^?\`E_7_`!K"L[C5 M%NX_M%P^?.^SL^\%0VS[NSUW?Q?TJ:"]N=/G6&_EE=827?8Y:*!-TS84G'3-2U!>74=E;F:4,R@A0$&223@`?B:`(8[^QBC6.-U1 M%&%54(`'L,5#+)I,T/DRQPO'N+[3%QN/4].M6&O@EB]V]O.JH"60K\X`ZG&? MQIO]J6GG%/.7:(Q(TI("`'[H)/.^L(DV1 M,J+DG"H0.>3VJRUS`DB1O/&KR?<4N`6^@[TL<\4Q812HY0X8*P./K0!!_:5I M_P`]O_'3_A1_:5I_SV_\=/\`A5NB@"I_:5I_SV_\=/\`A1_:5I_SV_\`'3_A M5NB@"I_:5I_SV_\`'3_A1_:5I_SV_P#'3_A5NB@"I_:5I_SV_P#'3_A1_:5I M_P`]O_'3_A5NB@"I_:5I_P`]O_'3_A1_:5I_SV_\=/\`A5NB@"I_:5I_SV_\ M=/\`A1_:5I_SV_\`'3_A5NB@"I_:5I_SV_\`'3_A1_:5I_SV_P#'3_A5NB@" MI_:5I_SV_P#'3_A1_:5I_P`]O_'3_A5NB@"I_:5I_P`]O_'3_A1_:5I_SV_\ M=/\`A5NF32QP1-)*P1%Y+'M0!4DOK"5=LC*ZY!PR$C(Y!Z5#,VCW!)GAMY23 MN)>#=DXQGD>@%3W^I16&/,CE<;2[&-,A%'4GV_6GWVH6VGV9NKB3;&!QCJWL M!W-`%2(Z-#,LT4,$E2C586N'B6* M=A'C?($^1?EWG)Q4/\`;=L=^U)BP("* M$YER2,KZC(/I0!I45%;3QW-ND\1)1QD9M`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`44572]MI)WA2=#(GWES0!8HJO]MM,D?:85/T/>GPV=M;G,,$:'U"C/YU-0!SVCW-ZU]?PS7)>XY M:.-^8^V"K#MR./<5&+_4!:6T\LLWDHDC7$D(C!X?`X8'C`/`K8LM)M+&YFG@ M0AY3W8D*.,@>@R,TCZ/8N(P8B`F>`[`,"4,6R7;!.21D9P<9(%!T6Q)D/EN"YR")&!0YS\O/R\DGB@"73)_M- MA')OD<\JQEV[L@D$':`.H[5;J*W@CMH%AA7:B]!G/ZU+0`53U2V:ZM/+6&"? M#JQCGSM8`]./\#5RHITD=`(I?*;/7:#0!GZ9I1G M^54)/#TR6T2P>6#'<22%%?8&5LA>=IY`P.E;/V>[_P"?W_R$*/L]W_S^_P#D M(4`8#>';[;#&K0%46/G?C&ULD'Y26]N1]*W-(L386?E.(_,+NS,G?+$C]#3_ M`+/=_P#/[_Y"%'V>[_Y_?_(0H`MT54^SW?\`S^_^0A1]GN_^?W_R$*`+=%5/ ML]W_`,_O_D(4?9[O_G]_\A"@"W153[/=_P#/[_Y"%'V>[_Y_?_(0H`MT54^S MW?\`S^_^0A1]GN_^?W_R$*`+=%5/L]W_`,_O_D(4?9[O_G]_\A"@"W153[/= M_P#/[_Y"%'V>[_Y_?_(0H`MT54^SW?\`S^_^0A1]GN_^?W_R$*`+=%5/L]W_ M`,_O_D(4?9[O_G]_\A"@"W5+5=.CU.S:"1F3/W6!/!^@(S3OL]W_`,_O_D(4 M?9[O_G]_\A"@"GJ>FRS68L[:**2W*D8EE8,C=FSSG'/%6+NUN+G2;BS)0NT1 MC20L?F)7&3QQSGIFI/L]W_S^_P#D(4?9[O\`Y_?_`"$*`,[^R)3J$T3; M*)#<)GS'7;@H1CO]<8[5%<:-=)*TEALM_F*HB/L"KCAN.OS[_ M`.?W_P`A"C[/=_\`/[_Y"%`%H=.:*J_9[O\`Y_?_`"$**`+=%%%`&+=:?=R^ M(K>ZC$2PHIW2*2&(X^4C^+V_'TI+S29IH'3R+2XW2R.!*2-H;H0<=1]/H:VZ M*/(#"FTZ\N)"@";/+2W>1V.YE4AMX&._S#'ZU&FC7L;0R#R"UI@0KO($@!). M3C@X/OR*Z&B@"KI]LUK8102,&90=Q7IDG)Q^=3>4OJ__`'V?\:DHH`C\I?5_ M^^S_`(T>4OJ__?9_QJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:DHH`C\I?5_\` MOL_XT>4OJ_\`WV?\:DHH`C\I?5_^^S_C1Y2^K_\`?9_QJ2B@"/RE]7_[[/\` MC1Y2^K_]]G_&I**`(_*7U?\`[[/^-'E+ZO\`]]G_`!J2B@"/RE]7_P"^S_C1 MY2^K_P#?9_QJ2B@"/RE]7_[[/^-'E+ZO_P!]G_&I**`(_*7U?_OL_P"-'E+Z MO_WV?\:DHH`C\I?5_P#OL_XT>4OJ_P#WV?\`&I**`(_*7U?_`+[/^-'E+ZO_ M`-]G_&I**`(_*7U?_OL_XT>4OJ__`'V?\:DHH`C\I?5_^^S_`(T>4OJ__?9_ MQJ2B@"/RE]7_`.^S_C1Y2^K_`/?9_P`:DJ"ZNX+./?/(%!X':`32 M<*)&`5!Z#-`$DNI6"(K),\S-]U(W+,?PS4+2WUUMCM[:6V)Y,LKD[1[#UHGU M;0M.7[1]HM06Z>3AF;_OFL>[\=12*D>E6Y8Y-,+O*PZ:L';/E[3_X^:K1>'/$EBZWM MI=!KN;/G#>"1GU)X-`'8?V/I^W'V5,?4U#?:8`BSV*[+B+E<$C+ MXAYB:D)&8;2@F/`_$8_*JTJZWX2FM[J>Y:ZMI6`E7<6&>XY[XZ'VH`ZM-4M! M')Y_G02QC+1.Q!/TYYIJRZE*/,CLML9Z*\Y#?SJW";+5((+M`DR?>1L=/\^E M7*`,B/3YKZ4R:B&2)?N6XD+#ZDYJ_#96\`(AC\L'KM)&:9J&HVFF6_G7LRQ) MG`SR2?8#DUS.I^-DE7[-HL,DMQ(=JNR<#Z#J3]:`.M\I?5_^^S_C44@?J:X][KQF8&M7M<`H9<^A!P*DM/`,;HKZA>RM*PRZQXX/U. M)=)T^(E;DW,O:.&4M^9S@5-X=URWUN&5H8Y8Y(L;T=MV,YQ@_@:CL M?".CV4@D$#3.IR#,V['X=/TK8BMX(7D>&&.-I#EV10"Q]_6@#&TSQ!)>MJ#2 M6A6*U8A1&=SG'8KUS^G;M36\3*NEV5T8,375UC\XO@EFST'<#'-4Y?$<\5S-;-8`3!U2,&88^8D#>,XYXI\.D:C+J4%_=7ZYB)58C"&PN[UW<$C'-,G\.7$\EQ)+?)([KL3S+=6 M&W=NPWKZ9XQ2&:VEWRZCI\-VJ%!(.5)S@@X(S]15NJFEV*:;IT-HC%Q&,;L8 MRZ]A^=:WW/G M:E_M*T_Y[?\`CI_PH_M*T_Y[?^.G_"@#.UF6Y:S\Z)Y+>XCB:3[.LJJ1C^,X M^\!Z=.:=JMQ<2C3XK4MBY))(D,1.%R!NP2/7@=JL7,VE7>S[2L4VPY7?$3C] M*2:729T=)DB=78,P:+.2.,GCKB@#%TV^N[F"&Z%W,96NOLVQB"-NWJ0.,YYS M4L%[O2@#3!R,BBJO]I6G_`#U_\=/^%%`%NBBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HJ MO>7<5E`TLK`8Z#NQ]!6?#)K"+O:%)O.&X`L%\H^A]1B@#8IK,JJ68@`=236< M8=6GXEN8+=3U\E23^M5KZWTZP19=4U"9H^R32D@GV`Y-`%V;5[*(?+,)7Z!( M_F)-0QQ:K.GG-=K;EN1#Y0.T>YZUD3^+]#M(B]E`9)1PH6+9^9/:J5NWB_58 MOML,RP1,K4UW;P,%FGCC8C. M&8"N5T?7!?RMI'B&,+=*V%=AMW'TXZ'TQP?Y]'!I-G`&_3*-Q_6@"`7 M=YJ#G[!B&W7_`);2+G=]!2_9;;3P]_J-R9'09,LO`7Z"LW6?%D.G7(L-/MOM M5P/EVH?E0^F!U/L*RX]&UCQ'.MSKDS6MJ#E8<;3^"GI]3S0!I2^.M*1&,:W$ MC#.T;`,_CFLNPTF[\67KZEJIDAM",1(AQD>BY[>_>NJ@T;1X8U6.QM#L&`QC M5C^)/-:#,D8^9E4>YQ0!SEOX'TB&7>_GSC^Y(XQ^@%;EOI]E:N'M[2")@,!D MC"G'U%(VH6JG'F[C_L@FD&I6A_Y:_P#CI_PH`MT53&H1M_JXII!ZHF:/[2MQ MPY=#Z,AS0!VN8Q)%(,,IJ+[F1 MQ^'2NL\Z]/2T4?604>?>*/FLP?=9!0!R]EX5O]1OOM?B*3>O]^Y5/9$S_`#H`N453 M^QR][R;/UH^R3CI>R9]P#0!E#:A9H(BUU"HE)6/+CYB#CC\:P="AW:CJ%L;:1;8@AA*F M&0G;\H;C(//Y#UIHA$=C;63VDT8<.LLJV[L5C\PD(-H."?T'/I1V#N=$]W;1 MW*6SSQK.XRL98;C^%,.I60$Q-W#B`XD^LN2>&]U2-$MYTB616>7[.Y\ MQU)`7.,``CDG_&J%VDDEX9(8+B&%"@@#JHY$EC62-U=& M&593D$4^J&AQO%I,"2(RL,_>&"1N."1V)ZX]ZOT`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!14+74"W*VS31B=AN6,L-Q'KBE>XAC7<\T:KNVY+`#/I]:`):*8\L<; M(KR(K.<*&8`L?;UIANK<+(QGB`B.)#O'R?7TH`FHI`0P!4@@\@CO2T`%%)TJ M%KRV4X,Z?@<" MFG66>W::.!5C'_+21L+^9Q0!KT5RW]O-+N*[`.!]OO&_P!I8L`?7YJ` M.RDECB&9'5!ZL<52GUJQA_Y;>8?2,;L>]<0VM/>3.;+2Y[IL_?;+$_4`'^=% MQ>Z]'`TITLP11@,[&-AQGW-`'?R7EO$H+2KSTQS_`"JC/KD49`5<9[N_P#O&KS3>,KKQ@EC^?:@"236X@["*">95)4NJC:3[&J_FSW8 M,MQ?_9$ZI%$&2X\XW5_C$33`*J>AQ6%I]EXDLR9[6[YEY< M,2X/OR"/QK2T\B=>!*L@R1Z'U%1)X:NXRLWVR2>=``AFN M'P/R%=310!DZ=HD-O;@7"QO*?O>6-JCZ=_SJV--M!_RQ_P#'C_C5NB@"J=/M M#_RQ'YFA=.M%.1"#]235JB@!J(L8PBA1Z`8I2`>H!I:*`"BBB@`HHHH`**** M`"BBB@`HHHH`****`$P!VZTM%%`"*H484`#T`I:**`"BBB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`YR\1E\6V[1V[L74[B\>5QQ\RMV(]_ZU%/9FWAVFVE>`27"A M=C.26'RGN>>>?>NGP,YQS2T=+#NK)+*L7ER2S+#'"&"$A)0RL><<<$'/M M5>."5'@=[:7R[@*TW M[DQ1,WSC[@Y(R/85R]WXLCBD(\^2[R.D+%%_,C^E=M-$D\,D,J[HY%*LOJ", M$53L-$TW36+6=I'&W]XY9OS.30!Q0UF\?F'19RSGY,[F!_)1FB76+N`_Z?HT M\)/_`#S=XP?^^@U>BT4`>?17VMW`S9:*0G9I%=C^9('Z5(]OXL`S)86\H/(' MEQ?+^5=[10!P1MO%>T`:9:KG&"(XK2RDG^56;;0-.M7+PZ;;!CW9BWY9!Q6M10!0 M.F6A38=-LBOH4&/_`$&HAHFGA2HTJRP>OR#_`.)K4HH`@AB^SQ"*""&*->BH M<`?@!2R*\L;1R11LC`JP+'!!_"IJ*`,G2-$MM'\PV<"AI#RSR$G'ITZ5I9E_ MN)_WV?\`"I**`,?7M%37+013!8Y$.8Y%;)4_ER*YX^'_`!2L!L%U"-K5AM), MAQCTZ9Q["NYHH`R-!T9=%LA#''&\K9? M[B?]]G_"C,O]Q/\`OL_X5)10!'F7^XG_`'V?\*,R_P!Q/^^S_A4E%`$>9?[B M?]]G_"C,O]Q/^^S_`(5)10!'F7^XG_?9_P`*,R_W$_[[/^%244`1YE_N)_WV M?\*,R_W$_P"^S_A4E%`$>9?[B?\`?9_PHS+_`'$_[[/^%244`1YE_N)_WV?\ M*,R_W$_[[/\`A4E%`$>9?[B?]]G_``HS+_<3_OL_X5)10!'F7^XG_?9_PHS+ M_<3_`+[/^%244`1YE_N)_P!]G_"C,O\`<3_OL_X5)10!'F7^XG_?9_PHS+_< M3_OL_P"%244`1YE_N)_WV?\`"C,O]Q/^^S_A4E%`$>9?[B?]]G_"G*7.=ZJ/ MH<_TIU%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!112`@C((/TH`6BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"*ZQ]EFRS*-AY4 M9(X[>]<3:-;_`-FE!+;HD4\C[GWF.<[3@8!&TX[9].M=W3$BC1=JHH7);`'< MG.?SH&"W4C/'Z8J]3 M71)(VCD571@596&00>Q%4_[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_P MH_L72O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*`+U%4 M?[%TK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG_P!^%_PH M_L72O^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_PH`O4 M51_L72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\`"C^Q M=*_Z!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^%_PH`O45 M1_L72O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_"C^Q= M*_Z!EG_WX7_"@"]15'^Q=*_Z!EG_`-^%_P`*/[%TK_H&6?\`WX7_``H`O451 M_L72O^@99_\`?A?\*/[%TK_H&6?_`'X7_"@"]15'^Q=*_P"@99_]^%_PH_L7 M2O\`H&6?_?A?\*`+U%4?[%TK_H&6?_?A?\*/[%TK_H&6?_?A?\*`+U%4?[%T MK_H&6?\`WX7_``H_L72O^@99_P#?A?\`"@"]15'^Q=*_Z!EG_P!^%_PH_L72 MO^@99_\`?A?\*`+U%4?[%TK_`*!EG_WX7_"C^Q=*_P"@99_]^%_PH`O451_L M72O^@99_]^%_PH_L72O^@99_]^%_PH`O451_L72O^@99_P#?A?\`"C^Q=*_Z M!EG_`-^%_P`*`+U%4?[%TK_H&6?_`'X7_"C^Q=*_Z!EG_P!^%_PH`O451_L7 M2O\`H&6?_?A?\*/[%TK_`*!EG_WX7_"@"]15'^Q=*_Z!EG_WX7_"I[:RM;/= M]EMH8-^-WE1A]<=+(K6TUO;2!K=9A-NC8E?+"KGGKG MY@3[UVM-"J.B@?A0!R+M&DLGX]*YDF&06:M-$UDDA M>54EW)$KMA5+#L,8/UKL:0J#G(!SP>.M`=#G--MDN+S3W93OBA,S.2E&!DG`R>]'4!:***`"BBB@`HHHH`QO$CVJV\27$BJ\A*Q!Y-B!L?> M8^W6J]O$_P!DTRX,\C>9<[SSP^[."?7@"N@H``&`,`4+0&9^G(T>H:B&D>3+ MJF5Z#VK1HHH`****`"BBB@`KGM3N+.+6@WVA4N(%\UR\H!VA3A%'?/4__ M`*JZ&D(!&",@T`<[';K:&1;R:78;)3)SPOS;.FE"2>5ML<:EW.,X`&36/_P`)AH7_`#_?^07_ M`/B:T=5ADN-)O((EW220.B#.,DJ0*\V_X0_7?^?'_P`C)_\`%4`>EWM_;6"H MUS(4#G:N%+$G&>@!J6&5)X5EC)*.,@D$?H:I:I9RWEQ9>6TB+'(S.\;`,HV$ M=_E`SIII4@B:25MJ+U-,DNX(K MA8'?$K`$+@GJ<5S3:-J#0%Q&PN)-X=C("<$+M[XZ@TZ;2M281!83O1"CN)!\ MYW'YNN><@T"6QTMQ/%:P//.X2-!EF/84J3Q22-&CAF50Q`]#G!_0UA)I-Q'I M=]:I"<2QQ[$+@Y;:-W?UJ"XTB_C6YBC!:W#1"/:06:(%B5P2,XW#KU`H8+8Z MBHYIHX$#RMM4L%!]R<#]37*-I&M*L?DLX`3)W2#(8_(0>>R<_A6KK<%[-;)8 MV4!VG85GW`",JP//?H!C&:`-JBN2LM%O6=!<12^4NX[6D"?/MZC!/?O[9Q3# MI>I&P2(02"-9&.P;=[$J`"1OV\'/(/OB@#KZI6NKV5Y<&""5FD'4&-AC\2*S MM'AG&J3))+YD=LH.0V?WC@;@?<;3_P!]5!K.G7T]Q1&`#@L M!U[GIZ4/0%J=-5,:I9F]-F)29PVTJ(VP#C/7&*R["QU%+R25U,0>/",["3RW MPNYBN>=V/7M[TDVD7DD.H$RS&264%41PJ.,*"V.W0]^U`'0T5R,^CZDMSXJ'7[2>\LDCMTWN)` MQ&0.,'U^M9FCZ3>VVIPS30;8UW9.]3_"1V-`&U-JEE!=BUEG"S''!4XYZ3:G/)#%<%7\K85D01$J"@]JYM],OKF:XN7MY$8D MO`&D7*G>#V/!QFEATV^0,)K6228H1%()@!$,-D=>Y(X[YZ\4N@^ITR,'174Y M5AD4Q[F%)6C9P'5/,(QT7UKDK>SO9(Y_(MI#,CNDKF3AQM`V##`\'GL..O-7 MM)TV]A-QYT+(K0ND8)4=3D#`)Q3?D)&S9:E:7^[[+-O*@$@J5.#T.".E6ZY* M'2KY$C,EM=/"L<:S12RHS.%SE4PWW>E8^CV4D$=YFT>W$J MJ`KN"68+@G@GO67;Z)J$-E'MA99R&67$HRR87"]>^"*.H'5Q31S;_+;=L8HW ML1U%1WEY#8Q"2F>F M*TUTI[C5KAKRW9K.0DQKYO"MQDD`_P`7]/>A=`-REI*6@`JM+?6T,ACDDPPZ MC::LUC7]C5.,'PQQ6C:VL-I&4@3:I.3EB>P'?V`H`GHHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`SM6U,:8 M;=W7='(Y5\#)'RD\?B!34UNW=E18K@ODAT\O)CP<9;VSZ9J;4=-AU)8EF:11 M&VX;"!SC'<5$=&B%RT\5Q<1-(Q:38P&\$YQG&0,^G/)HZ@,;7[08`CN&+'$8 M"?ZWG&5YZ9J/_A)K$*"4G!8!E4I@LO/(YZ#!J2/0H$FBD,TS"%@85)&(QG.. MG(SZ\\"HY?#=I((B)95>*,1JQ"M\O/8C&?FZ^PHZ#'ZMJC6L-I);20!;AL>9 M*K%0-I(.!SVH&NV\5HLLY+MEE)B0X)&,X!Y[BKILHB;4Y8?9?N#/7Y2O/X&J M<^@P7$[R//.%9BXC!7`8XR>F>P[T=1$5UX@C2W8P02M,IPR,G^K^8#YN?Y5M M5E3:%!)+(ZSSQF5B9-I7YAG..1P,C^=:M'0`HHHH`0`#.`!GDXI:**`"BBB@ M`HHHH`****`"BBB@`HHHH`*3`W;L#/3-+10`4444`%%%%`"``=`!FEHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`KW=]:6*AKN MXBA#<#>P&?I2I>6SF()<0L9@3&`X.\#J1ZUSVI2VMGXJ^T:LJ_97M=D+R)N4 M-GD=.M5(9;4:KH\UE:RV]OY=PZH1R>.H&>_:A#9V=%>?V6L7CS2^7J,H66U= MLRN9=C`]=H7Y>.PSBEMM5O&TN^07\JLGEGSVD,J%[R>]TR[4O,\D;E4>202#IV;'-9>E7&DQZ=:6 M-W9M-J2SX>)4(D#[C\Q/''3O1UL'2YVU%9NJ,6NM/@/^JDGR_OM4L!^8'Y5B MRW,=MJ$LEE()#)%(A`8^8)"P`\P'W.!TH`ZRBN95&TJYOXXYI)"MG$L0<]&) M95``[9Q4$2+:W2Q)(1>PW/EJ,DMY`C_N_P!WO]?>@#K:*YG09/LQ>.U6&_80 M(YE@RI)SC:VYB,]^WTJ?5[V$P1_VG:M"=^(HI9T"2M@_>(/`'7G]:&!OT5QR MM9QV0FOKA;K+""#,H6.7:O4L?X06;GV'4U',3%/!_I<E`':T5S5TC2Z8M\)I$\Z\23:IP'4R*JY[_=`_.ARB>(6%!!>V^T M26VXK&Z#Y68D<$_K43VNM7>E75W-%.EP/+@\K#;C&OWB!P3D^GO3$=U17"0: M?=W%O;0F.Z-H]\ORB-T"I@[L98L%^N*34+2YCUG%K97*"WFB$;*LCDQCC(;. M`/;!-'6P=#O**\YO1,LS8)^@Z4+4'H=1J&HVFF0K->S"*-FV@X)R?PJT"&4$'(/((KE MO$%A?ZSJZV\$$?V>VB/S7`949F&."!R0,54M;2\OI]*M=0M;D1VZRPS'#JK` M#Y3D8X/'UQ2!G:T5Q-EIUW=#1H+V"Z,*I,LP;>N!D[0Q[=L55LEU*TB;S[6^ M^ ME@M8_L5UYL=E'L<)(QW<9``("D=\YKH/#T-PFJZI+/%*@E\HJSH1N^7GK3[B MZ%NX\1Z5;7#6\UPRRJ2I7R7/(],+S6E'(LD2R*?D90P)&.*Q-:M[F37M+EMX MW/EK-EPI*H2O&3VYK%TRSN)+JUC%M>I<$2+J#RE@K@@XYS@^V*GH-[G9VUS# M=P+-;R"2-LX8=#@XI@O;9YC M,DK#S.V%!'.,<]/UK<\.P7@U>&:YAG7_`(ERHSRH1\P;H2>]4(VK[6]/T^X% MO=3E)2N_:(W;CUX!JU9WEO?VRW%K*)8FZ,./YUSVK:?J%UXE>2REEMB++"S! M/E+;OND_Y-8LUI=BPLD-G=1P()!,CQNQ\[^]A2"<\8/2I0['>?:8?M7V7S%\ M_9OV=]N<9J:N"FTVZ%P&EM[R6XETXJDFU@?,&?O8)`.WMZ^]39O;I)#':WJA M-)\G+1,-T@(R!ZFF_P"OQ_R%_7Y';T5QRZ$!=:1"8+DP20NUT=SXWE1]XYXY M'2MOPNEQ'H-NETLJRKN!$H(8#<<=?;%,#6HHHI`%%%%`!1110`4444`(RAAA M@"/0BEJ%KJW6Y6V::,3L-RQEAN(]<4@N[8Q^8+B'9NV[MXQGTSZT`3!0OW0! MDYXI`BJI4*`#V`I'ECC9%>1%9SA0S`%C[>M,-U;A9&,\0$1Q(=X^3Z^E`$JJ M%`"@`#H!1M&[=@;L8SCFD#*5W!AMQG.>,4WSHO\`GJG_`'T*`$G@CN%42#.Q MPZD'!!'0T_:IS\HYY/%-\Z+_`)ZI_P!]"CSHO^>J?]]"@!Y`/4`T8&=%_SU3_`+Z%'G1?\]4_[Z%`#P`.@`SS2U'YT7_/5/\`OH4>=%_SU3_OH4`/ M``&``*"H)!(!(Z&F>=%_SU3_`+Z%'G1?\]4_[Z%`#P```!@#L*0J"2<J?]]"CSHO^>J?]]"@" M2BH_.B_YZI_WT*/.B_YZI_WT*`)**C\Z+_GJG_?0H\Z+_GJG_?0H`DHJ/SHO M^>J?]]"CSHO^>J?]]"@"2BH_.B_YZI_WT*/.B_YZI_WT*`)**C\Z+_GJG_?0 MH\Z+_GJG_?0H`DHJ/SHO^>J?]]"CSHO^>J?]]"@"2BH_.B_YZI_WT*/.B_YZ MI_WT*`)**C\Z+_GJG_?0H\Z+_GJG_?0H`DHJ/SHO^>J?]]"CSHO^>J?]]"@" M2BH_.B_YZI_WT*/.B_YZI_WT*`)**C\Z+_GJG_?0H\Z+_GJG_?0H`DHJ/SHO M^>J?]]"CSHO^>J?]]"@"2BH_.B_YZI_WT*/.B_YZI_WT*`)**C\Z+_GJG_?0 MIRNCYV,K8]#F@!U%%%`!1110`4444`%%%9NO7TNGZ=YEN%\UY%C5F&0I8XR: M`-*BN>NKG4M.MI1+?P7#B:(*RH%GTJ*Y\81VUQ+";)WV$A620,.#@ MEL9VC\Z`.FHKG)O%D<5O:R_97L-UMP5*J$=<_ MWE'&/2M"@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***I:M)-%8.\% MQ%;E<%I91D(O/2JSZU MJ@L@8Y_.#W!2*>.`%Y5"DDJG0C(Z^E`'845S4&KZA=0"6U\F1DLEDD7HN]CU MZ9X"GBH;C5M5.D:=8#%N!7`RRD=".G_ZZKF$,GV@VQSC'S8SG(SUKK0`,X`&3DXI:!=+ M%+1XWBTNW212C!?NGJHSP/RQ5VBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*IZI]F:S:.\B,L,AV ME1^?]*N5%<7$5K`\T[A(T&2QH`PH8M&AA>);69@[J[%F)9BIR.=V>*B:RT)G M#_9;@,I+(1*PV$G/R_-QSS6W_:,1TL:@J2-"4$F%7YMOTI/[4M/.*>YH`QVMM%:)8_LUP`,@D2,"X)R0QW\T^YM#:S6[O`5"[ M,#&!T[UI-,F@#,M9=, MLXY8[>WE1)0%8>P&`.OI4$T.BSPP0O:3;(%V(`Q!V_W2=V2/K5Z#7[&[,:QI*'D;;L(&0-H;)YZ8(_,4`-35K5$5$CD55& M``HX'YT5I44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4UUW(R^HIU13I M(Z`12^4V>NT&C<"GI^G26UI9QR7,@,$01DC(V.??(S_*LR3P],EM$L'E@QW$ MDA17V!E;(7G:>0,#I6S]GN_^?W_R$*/L]W_S^_\`D(4/4#`;P[?;88U:`JBQ M\[\8VMD@_*2WMR/I6YI%B;"S\IQ'YA=V9D[Y8D?H:?\`9[O_`)_?_(0H^SW? M_/[_`.0A0!;HJI]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJGV>[_P"?W_R$*/L] MW_S^_P#D(4`6Z*J?9[O_`)_?_(0H^SW?_/[_`.0A0!;HJI]GN_\`G]_\A"C[ M/=_\_O\`Y"%`%NBJGV>[_P"?W_R$*/L]W_S^_P#D(4`6Z*J?9[O_`)_?_(0H M^SW?_/[_`.0A0!;HJI]GN_\`G]_\A"C[/=_\_O\`Y"%`%NBJGV>[_P"?W_R$ M*/L]W_S^_P#D(4`6ZI:KIT>IV;02,R9^ZP)X/T!&:=]GN_\`G]_\A"C[/=_\ M_O\`Y"%`&?J>@M+RTV(C_`##[V2*U6X^T81R MQ'&-G*C//>FW&C722M)8;+?YBJ(C[`JXX;CK\W)'<`#M6M]GN_\`G]_\A"C[ M/=_\_O\`Y"%`%H=.:*J_9[O_`)_?_(0HH`MT444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!112$@`DG`%`"T55EU*RB0L MUU%QS@."?R%5?[3N)@/LNGS-NY#281?K0!IT`@@$'(/>LN2WU*^'EW+Q6\!/ MS+&268>F:MV=E'9!UB>0HQR$9LA?I0!%9ZQ9WDT\<3,#!]YG7:I'<@^E"ZO9 MND+H\D@F#&/RXG?(!P3\H.!GN:S=%M+E-1ODFM3#:.3NB9@R,Q`Y7VQG\P.U M12Z9=+;0*MI)]H576.5)L>4QD)!(STQSW],4+H'.,UFRVUS?:BDL4,\433(TA+(4 M;RV(R1U!X&,<'(]*A.F7)$*SV+RQ6BE"%D"F7+AMRX/8`'G'6@#I(95FB61` MX5N@="I_(@$5)5/28IX=.BCN=WF#/#-N*C)P">Y`P*N4`%4-9,YL=EM*LU7ZKWOV8VY6\5&B8X*NNX'\*`,NUN#\?G*6 MD",#UWX''UQZ52&K:B&BF9-TLC-;K&@+("GWVP,9)(X]!6U#>:?;Q+%"RQQK MT54(`_2HY9-)FA\F6.%X]Q?:8N-QZGIUH`SF\27!$,B0)M/E^:N&8J6;'WN@ M]NN?:M72+NXO;=YYUB5"[+&$SG`8CG/TJ%O[%=T=X+=F0!5)@Z`=`.*GCOK" M)-D3*BY)PJ$#GD]J`+U%5/[2M/\`GM_XZ?\`"C^TK3_GM_XZ?\*`+=%5/[2M M/^>W_CI_PH_M*T_Y[?\`CI_PH`MT54_M*T_Y[?\`CI_PH_M*T_Y[?^.G_"@" MW153^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"@"W153^TK3_`)[?^.G_``H_M*T_ MY[?^.G_"@"W153^TK3_GM_XZ?\*/[2M/^>W_`(Z?\*`+=%5/[2M/^>W_`(Z? M\*/[2M/^>W_CI_PH`MT54_M*T_Y[?^.G_"C^TK3_`)[?^.G_``H`MUGZU>7% MCI\DUM"9'`ZY&%]SD\U+_:5I_P`]O_'3_A1_:5I_SV_\=/\`A0!G:S+`].G-.UO4G@TM#`75[A"1*(R=@QG/'0]A]?:K%S M-I5WL^TK%-L.5WQ$X_2GB\TX>9@I^\^_^[/S<8YXYXXHMH/J9=IYM[=VYMKR MZ`6W$TI9SM+$84;3[@G\/>HH+VYT^=8;^65UA)=]CESG8,@DXR!\S8_VEK92 M\T^-BT91"0`2L9&0.@Z=JBDDTF5=LBQN-_F?-&3\WKTI]1=#3!R,BBJO]I6G M_/7_`,=/^%%("W1110!SUW.\?BN`-2^-KM- MSO>.XF:3$WDEU4'A>#P/3]:W7LK9[U+QH4-PBE5D(Y`/^?U-$UE:SILFMHI% MW;\,@(W>OUHZ#,C4+R4O')#++&L=NDR+G&\LX&&'?CC\:J1W=S));QM=2[;S M:92'YC.YAA3VZ8_"N@&GVGG&9H(VDW^8&902K8`X].@I3I]F5E4VL.V8YD&P M?.?4T"(])FDFTN"20EW*GYN[8.,_C5GS&_YY/^8_QIR(J($10JJ,``8`%.H` MC\QO^>3_`)C_`!H\QO\`GD_YC_&I**`(_,;_`)Y/^8_QH\QO^>3_`)C_`!J2 MB@"/S&_YY/\`F/\`&CS&_P">3_F/\:DHH`C\QO\`GD_YC_&CS&_YY/\`F/\` M&I**`(_,;_GD_P"8_P`:/,;_`)Y/^8_QJ2B@"/S&_P">3_F/\:/,;_GD_P"8 M_P`:DHH`C\QO^>3_`)C_`!H\QO\`GD_YC_&I**`(_,;_`)Y/^8_QH\QO^>3_ M`)C_`!J2B@"/S&_YY/\`F/\`&CS&_P">3_F/\:DHH`C\QO\`GD_YC_&CS&_Y MY/\`F/\`&I**`(_,;_GD_P"8_P`:/,;_`)Y/^8_QJ2B@"/S&_P">3_F/\:/, M;_GD_P"8_P`:DHH`C\QO^>3_`)C_`!H\QO\`GD_YC_&I**`(_,;_`)Y/^8_Q MH\QO^>3_`)C_`!J2B@"/S&_YY/\`F/\`&CS&_P">3_F/\:?68]Y&XG/_`$S3-,CN-8W& M4V:/&_W8]X4I^-.F\1:-;K\VH6Y`YQ&V_P#]!S61:^/+":[>.>&2W@&=DI.[ M/U4#C]:`--]&9RIDF0 M`9W-&<'VXYI;/Q-I&N.;%A)&TGRJLR@;_H03S0!O>8W_`#R?\Q_C3#2<_B:E M=UC0N[!549+$X`%`%2.SM8\;+!`1T.U<_GFK/F-_SR?\Q_C4?VZT^RO3_F/\:4%]Q-R,K(O(X(/&>3@ M]>#5&:6Z30=,C2&9K6.7>SJ`=S>:0%//U_$BA=/,'U/0,C.,C)[4FY>?F'R] M>>E<==W$=UXHAEB9FD,T(A(S]P;Q(!^/6LM"OVFG MX4`ST:EK*\,;_P#A'[3?G[IVY_NY./TQ6K38!45Q<16L#S3N$C09+&I::Z[D M9?45+V!&>^MVJV\,P69UEB\["IDJG=C[069M9-S$!<_Q#CGOQQ5JXTAGTNXM%N))3)%LC$Q&U"!P1@9' M./6FP+5OJ5K<'"2!2 M\#0E!"5B7[Y7R]GH,<^W(YJ"3P[?S-+O:W&Y)$SOP#N((PH08Z>IH`ZB.1)4 M#Q.KH>C*<@T^F1HL:!$4*H'`48`I]`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4R:6.")I)6"(O)8]J?5+5=.CU.S:"1F3/W6!/!^@(S0`7^I16&/, MCE<;2[&-,A%'4GV_6IKN[AL[-[J9L1(NXGU^E9^IZ;+-9BSMHHI+W&,>_P#6GW&C722M)8;+?YBJ(C[`JXX;CK\W)'<`#M5".AHI!TYH MI`+1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4457AOK6I;L]]?6MI` M/OLG4>P)[U@+XRLK5?(M-+>:W0_ZQW`+>Y�!VL,L<\8DB<.AZ$&I*YC2-0 MCO`UWHP/!_?V3D`CW'^?\*TQB1GYK=Y/\`>E;^A%79O#^DSP10R6,1CB^X!D8_$'466VNH%_>%_E#`=3['U%/_X371?M!C\Z7;_SU\L[?\?TI-=\)6FK7B70 MF-LYXDVJ#YG^!]ZN1^&M&6T%N+&)T_OGES_P+K0!EZMXR19$MM%C^V7#XPVT ME1[`=2:HR:7XHUXB+4I%M;7(++D#/X#D_C73:;HNF:,6>VA6-FZN[9./3)Z" MK+ZA:H<&8$_[()H`YA_A]:&0%+V<)QD%02?Q_P#K5T%IH>F6<21Q64!VC&]H MPS'ZG%2_VC#V64_\`H_M*W[EP/4J:`+:J%&%``]`*6H8[J"7[DJ$^F<&I0P. M<$''I0`U(T1G95`9SEB!U.,?R`IU8>E:C?3W5_'<>6TD1.RVQL<>G)Z@^M-. MIZC_`&;!=XMU))#)@L9'W[0B\\<=^:`-N&"*!`L:!0"3Z\DY/ZT[:O/`YZ\= M:SKRZO(-0@5?)\F1U18\$N^?O-G/&WZ51NM7O;:>>"1H0X*$%8F.P,V.!G,G M&#QWH`Z"EJII=T]YIT-Q(%#.N3MZ=?T^G:K=`!44Z2.@$4OE-GKM!J6B@"I] MGN_^?W_R$*/L]W_S^_\`D(5;HH`J?9[O_G]_\A"C[/=_\_O_`)"%6Z*`*GV> M[_Y_?_(0H^SW?_/[_P"0A5NB@"I]GN_^?W_R$*/L]W_S^_\`D(5;HH`J?9[O M_G]_\A"C[/=_\_O_`)"%6Z*`*GV>[_Y_?_(0H^SW?_/[_P"0A5NB@"I]GN_^ M?W_R$*/L]W_S^_\`D(5;HH`J?9[O_G]_\A"C[/=_\_O_`)"%6Z*`*GV>[_Y_ M?_(0H^SW?_/[_P"0A5NB@"I]GN_^?W_R$*/L]W_S^_\`D(5;HH`J?9[O_G]_ M\A"C[/=_\_O_`)"%6Z*`*GV>[_Y_?_(0H^SW?_/[_P"0A5NB@"I]GN_^?W_R M$*/L]W_S^_\`D(5;HH`J?9[O_G]_\A"BK=%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1137=8U+.P51U).`*`'450EUG3XGVMQ11KRQA!.*`.PI"0!DD`>]6%Q&&&4\Q6.?S`H`]"5U;[K`_0TZN!T75_.U`1ZC$T2.N5W M?+P?XAP.]=.]^MC@"XCN8F^Z/,!84`:]4;G5K6VE,19I)!]Y8USM^MX%2OIGBS5RL5_WT_.NDL;?^SX?)L=+6%._[P9/U/4UJT4`4Q/>CK9@_20"CS[QN M%M`ONS@BKE%`%,17S\M2D_[/RBC M[-=+PEZV/]I`35RB@"G]@WWM[%S5RB@"H--M!_RQ M_P#'C_C0=-M>T9'T8U;HH`J+IUJISY63[DFK"1QQC"(J_08I]%`!1110!#): M6\OWXD)]<8-+#;Q0`B)`N>OO4M%`&9I^CI8WL]SY\LI?A`Y!V*<9'OT'7L!2 M?V+&KP/%=W,9@W;,;"/F.2?F4\\XSZ5J44`9D&E2)>F\DOKAI22,80KLW$A> M5R!ZX(IC:%&T@D-W<&2,Y@8D$QA M/M]:C;6+LP_);QI/OE^1SG"IVX[G(]JLSZ2D^K17S328C&?*S\I;C!]NG\OQ M6XTB&92!--&Q=V+*1G#\,O(Z4=!]2&[U:2-HVAC0QB)9I=V<[6(``]^I_"H% MUNY=HT6*$-=8-N3G`!)'S>^!GCUJW)HZS3;I9W$8PHC7`!C&"%/'J,^O.*:- M"A7)6>8.I!A;YN>*!%NSO//TY+J1=GRDN!S@CKC\JI7NO10#$ M"+(W;S)-@/Z$_I5^&TBALEM%!,078`!ON;4=_P"76HIO$-U;X6>$H>Y:%D!^FZNA\F+_`)Y)_P!\BCR8 MO^>2?]\B@#"36[Z8%H+5W0#^&W?]"3BHY+S7(TR;.[8-TXBR/^^3D5T/DQ?\ M\D_[Y%'DQ?\`/)/^^10!R;RZXW6QN3GH21_\5Q^-6;/1=4N")+V>*W7_`)Y! M1(Q^IZ#\,UT?DQ?\\D_[Y%'DQ?\`/)/^^10!E/X;L9&#.NXCN5%3PZ'90D%8 M\X^@_E5[R8O^>2?]\BCR8O\`GDG_`'R*`*EQHVG7,?ESVB.OOG/Y]:I_\(EH M>TK]A'/_`$T?/\ZU_)B_YY)_WR*/)B_YY)_WR*`(;+3;/3XA':6T<2CT')^I MZFI;FWBNK:2WF7='(I5A[&E\F+_GDG_?(H\F+_GDG_?(H`Q="\+VNCS/.9#< M3GA'=<;!Z#W]ZWJC\F+_`)Y)_P!\BCR8O^>2?]\B@##\5Z!)J\44]HP2\@SM M).-P],_RKGH[_7K6)K=-$VW6"HN%MSN'N,^3%_SR3_`+Y%'DQ?\\D_ M[Y%`',:#X/M8;42ZK")[N3YF5FR$]N.I]3736]O#:PK#;Q)%&O14&`*7R8O^ M>2?]\BCR8O\`GDG_`'R*`)**C\F+_GDG_?(H\F+_`)Y)_P!\B@"2BH_)B_YY M)_WR*/)B_P">2?\`?(H`DHJ/R8O^>2?]\BCR8O\`GDG_`'R*`)**C\F+_GDG M_?(H\F+_`)Y)_P!\B@"2BH_)B_YY)_WR*/)B_P">2?\`?(H`DHJ/R8O^>2?] M\BCR8O\`GDG_`'R*`)**C\F+_GDG_?(H\F+_`)Y)_P!\B@"2BH_)B_YY)_WR M*/)B_P">2?\`?(H`DHJ/R8O^>2?]\BCR8O\`GDG_`'R*`)**C\F+_GDG_?(H M\F+_`)Y)_P!\B@"2BH_)B_YY)_WR*/)B_P">2?\`?(H`DHJ/R8O^>2?]\BCR M8O\`GDG_`'R*`)**C\F+_GDG_?(IRHB9V*JY]!B@!U%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`R:010O(02$4M@=3BL.+Q&S645Q);1)YTK1INN%"$#/.X_3%; MDBEXV56*%@0&'4>]85KH5W#!,/M<(EFD<]?;F@9?O-4%I M*B&$N-H>4AA^[4G`/OS_`"J`:[N.U;4EY"/LX+C]Z"2,Y[=,]^*1](FEDVF9 M4A"K#C;EGC7!'.>#G(^AIJZ%*A1UNEWP$?9\Q\*`2<,,\]<<8Z4"-2SN5N[2 M.=5*AQG:>H/<5/5:UMVL[!8(B)713@L=H9NO/7'/UJ+S=5_Y\K/_`,"V_P#C M=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\` M@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_ M`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;J MO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS M=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T M`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"! M;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U7_GRL_\` MP+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0!>HJCYNJ_ M\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M_P#&Z/-U M7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#`MO\`XW0! M>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_SY6?_`(%M M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5?^?*S_P#` MMO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%ZBJ/FZK_S MY6?_`(%M_P#&Z/-U7_GRL_\`P+;_`.-T`7J*H^;JO_/E9_\`@6W_`,;H\W5? M^?*S_P#`MO\`XW0!>HJCYNJ_\^5G_P"!;?\`QNCS=5_Y\K/_`,"V_P#C=`%Z MBJ/FZK_SY6?_`(%M_P#&ZGMGNFW?:H88L8V^5*7SZYRJX_6@">BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`&NVU&;!;`S@=36.^OB. MT:62V(D680^6)`>2,]?7L1ZUL2*6C958H2"`PZCWK$.@22EWGN4+O\V4BV@. M,`-C/7@Y]12S6LD4$WD2.,+)MW;??&168-%F`B83P+);A? M)*0D*,$DY!8DYSZT!T)8M6DFGM%2T/EW/1O,&5P/FR/8\5JUGV6F"TEB?S3) MY7E(2%$94+@+NX]1S4EKHJV^IB M[WH0BD(!'AN0!R<\\#T[\]*.H&M1110`4444`%%%%`%/4;R2RA\R.W:;`+-\ MVT*H&22:@CUA)!;E8)-MQ,8U..`!W/IR,8J74[*:]2)(IXXT5MSI)$763T!P MPXSS21Z>5M+2$R#=`XD9@OWSSGZ9)-"!DMI>K=3W,:QNGD.%RPQNXZ@>E6J@ MAM_*N;B;?GSBIQCI@8J>@`HHHH`****`"J-QJ#07L<+6S>2[!/-W8^8@G@=Q MQR:O5EWFG75Q>/.EU$%,9CC1X2QCR.2#N')]<4`)!K)N`_EVDI981*HZ;LG@ M`GVQS_A5O3[L7UJ)@FSYF4@-N&0<<'N..M1/I[!BUO/Y+"`0I\F=N#G/OZ8J M33;,V5NT;,K,[LYV+M4$GH!V%`%NBBB@`HHHH`*HZA?O9,A^S-)%QOD!P%R0 M!CU//2KU4+ZRN+F[@FCN(ECAY$4D1<%O[W##D=NM`$:ZPC71A,+A?WA\S^'" M<'GUR#Q_C4NDZB-3M?/"1JIZ!)0_;/..A]J;'IA2*V7SL-#&ZDA<[BPY//OS M3M.LI+5II)Y4DEEV@E$V+A1@<9/-`%ZBBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BJFJS26^DWD\3;9(X'=#C."%)%>;?\)AKO_/] M_P"04_\`B:`/5**RM.!HDPVR4L#DK@GY?H:2XUV59K>50 M5MY(Q($&"6&3U/;('X4`=%16)+K$\NDWDTXA164,P<8(Z_G0!OT5FV6KQWMPL$<3*Q#,VX_=4!2#^.X?K67-J M=YIEWY2ZNYUEGEMH9`$C2%=C`JI'SXR#S0!TM%<^_BB*&25)[9E,>5(5 MMWSCJ.G3/&:U-+OUU&U,RH4*L489R,CT/<4`7****`"BLS7[N>SLDDMWV.9` MI.`>,'U^E9FCZM>W.IPPS3[HVW9&Q1_"3V%`'345SNI:G>6^K2)')(((O*R! M"&C`8\EFZCBI/^$D#3O!%:>9)O"(%F!SDD[ M8O*>W!P&8%N_5>HZ?3WK'3Q+=)%IID`9CD70``R<';],XS0M0>AUM%8LVO\` MEW,L2VC.L+$2/O`P`P7('?K3+?69IK5S'"\@C0^9-E04."1\O?H/SHOI<+:V M-VBL*+Q"1#OEMCLY59#(HWN%R<]@,=Z+/6I+Z68Q@(L=N[;00PW@XR#CD4/0 M%J;M%29(S$LL8B+,V, M=^5-#T`W:*RK"_N;EKUIH_*$:HT:9#8!7/6J-GXE0'S1*V55A\B9`&./F/7TJ>_OKRYN);&PA=;B`[F8 M.`"I'RG)]^21QR848P-H]!0!LT5F27TT.AO M=\-*%."PXSNP,XJK?S7UC!M;4/,9Y(P'6$-(H)(/R@ M5+,U7GTF MSG!WQL,LS$K(RDEOO=#T/I5+Q+'=.EHUFLQD60_-$I)4%2,_K553>Q79BGDO M_*21A`44L7.X?>/<8]>,9]*.H>9KC1[$1K'Y'RJ20-[=\`]_84C:-I[G+6_< MG[[8&22>_J36(O\`:4TT47F7HWN!='#`(=W13C@8]..E5Y3K,20_O;SRWB5I M&97)$GS``;1D=!QTZ9ZT>8_(Z.XM]-MH)%N#'%%,%1O,DVAMHX&2?2E;3[&Z M\R=%!,^UC+$Y!)7[I!!Z^XJG?VUS=II0;B4-F5C%O"GRSG(Z=:H73ZE'NM(3 M=;TD?+11$+M.W;@@8]>*.HNAKRZ/I@0--`FU%5-SN>@;<,G/K4UUIEI>3I-< M1EV08QN(!'49'0X/K7/7D=Z1+;3&^>)7(@PK-O.\?>('(QZ^]=;1TN'4H0Z/ M90G(C9C@C+R,QP1C')Z8XIO]B67E[-LN=V=_G/OZ8QNSG&.,5HT4`4;/3UMK MRXN?DW2!44(N-J*.![GG^5%SI-G=2M)+&V]S\S+(RD\8QP>F!TJ]10!3MM,L M[642P1;9`"-V]B2#C@Y//0=>F*>UC;/'-&T>5G??(-Q^8\<_H*LT4`49-(LI M99))(F8R9RN]MN3U(&<`^XYJ>UM8K2+RXMV"2Q+L69CZDGFIZ*`"BBB@""ZM M(+R,1W";T!W`9(Y_#ZU#;Z396TRS0P;9%S@[V/;'KM;<['"\\#)X')Z5$VAZ:RD&V'.,X9AT7:._H:T:*`*":-8HKJ(F;S!ART MC$MSGDD^HI/[%L,@^2<`8V^8VT]>2,\GD\^]:%%`&1!X?M$\[S0T@=R4&]@$ M!QT&>#P.>M6K?2K.V,ACC;=(I5V:1F+`]>2:NT4`9RZ)8JFU4ER``K&9V9`. MFTDY7\*>ND6")L%N-N58@L3D@$#///4_6KU%`%2TTZVLUD6%7Q)@,7D9B0!@ M#D]A42Z+IZP+"+?]VN<#>W&0`>_L*T**`,X:)8C'R29R2Q,KY?)R=QSR,C.# M5B.PMHKEKE(\3,26?< GRAPHIC 21 tf1_a0415x55x1.jpg begin 644 tf1_a0415x55x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M\`*P`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHI*`.>O?$4MMKZVBQ(;)&2*>4@Y5V!QSG&.G:G:YXE2PB MNH[2)Y;B#:&8QDQ*21PQ!'.*C?P=:36]P;F5I+V9V?[2-R[23Q\N['%-N/"] MS-',XS0/2YH'Q!9I%*9/,$D,BQ-&%Y+-TP.X-4X? M%,*&1+A6EF\YT1+>(YVKCKD_RJS-X>AEUJWU$RD>4J[HMO#LH(5LY[9JA<>$ M7ECD07<3!YGE(DMP<;L=#G((QZX/I0)&E=>(;.V*`I<2LT?FLL<1)C3U8=J4 M^(+,WD-M"D\[S(LBF*/<`K'`)/851/AJ>$+]CU%HV:W%O,TD>_>OJ.>#5W3M M#CT^^6XBE)1;9;<(5YX.0CI%YLDLP) M`&<``"H[C5M1L[?3OM=O#'//M0R^'GELK.!M0F:2WF\XRL,LQ]N?EHZ?UW&/3Q-8%I!(EQ`$C,H, ML17>H.,BE7Q+9?8I+IX[F-$*C#QX+YZ8['\ZH6GA*2WD+F^CW^4\1(M@2V>[ M9)R?K1;>$WAM[I!=Q*TX4;5@!CX/4J2>3[8QVH$;NGW\>H0&6..:/:VTK*FT M_P#U_P`*I7.N&&.29+4O!&[*9#(%!V\'&>ISD`=\4_0-'.CV\L9F$AE??M52 MJ)[`$FJZZ3=/:2V?FQI"'D7$D0<,K'<&'(PPR10]P19O=96T2Z7Q$D1BC:%$F9G5UEG5 M`I4@$;CUSGBMDL1%O*DD#.%Y/X5DMH]SY+HEW%NG#^>6@R#O/)7G(QTP214\ MFBVK1X!E$@0*K><^.!@'`8"CH'4B&M.B3B>S:*6.)95C+@[@QP`>.#GM1)K; MP,WVBQDC7RY)(\,"S!.N1VSVIMMH]Q$$6>ZBF'FK+(PA*O(1R,DL>^.,#I2' M1;F470N+V*0W*E3(("'`[*#O(VCTQS0!);ZT)X=P@'F>>L.%D#*]+9Z.\%\+F66(_,7,<4>Q`VW:"! MD]L_G4S:=*K74D%PJR33+*-T08#``P1GGIU�!7GUMHK.*<0Q'SMPC99U9- MPZ#=P.F>_:M*RG^U6<,^,>8H;I6='IDL<]JK,'`N'NI9`NU=Q!`4#/O^E;%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%YL?(MK">.&X<-(S/MP%4=. M?4UT=9TNB64^HR7MU$+AW0($F561`/0$4AHJ1^)(/+LY)4*Q7,#2B3/`91EE MQZU5F\8Q0K$6M""T0ED5IE4JIZ8!^\<'K:[N1.DT]LQ01OY)`W*.@Z(FFN[B.VL))H;=0SRB11P5W# M@^M5XO%\+07+26I$D.S:DK13%4$N":NWOB8VEQ=H+"22*S=5FE$@&`W0@=ZF/A;3/L,=LD7EM&01<(%$N02?_`$XH9"".-O3'%`%2+Q/YDZ#[!(+=KK[+YWF#[_;CK4R^ M(HVB5_L[J1/#UHD2QB2?"W?VL98??].G3_`#FHO^$8M?M7F_:; MD(+C[2L(8;`_KTS0OZ_#_@A_7Y_\`C?Q*!J9L6MMA9G1'\U6;('4J.0/K4^B M3WFI^&H9GNC'=2@_O@BG&&/;&.@J.+PM:17*RKV36GIMA% MIEC%9P,[1QYP7()Y.>WUH6VH/?0YRQU6^MH;R\O[^2XCMKEK=8%A13*>@Y`X MZU+J7B6ZAL+I4LC;WT!3XDWM%7;%F61OF7YG7N?E_2M M*PTV'3XIXX6D83RM*V\@X+=<<=*.G]>0CD-/U[5;DV8COI9[J67#6[6RJA0$ MY.[`[>E;EUXKMK;4WM3%F..01O)YB@ACZ+U('MY-0:[6>XC\QP\D:,`KL._3(]\&F!0T_Q)=&5EO;0@27OV M:,JXPGM[X]>^:LS^)1&K".R>607AM%0.!N8#KFED\,6[M*RW5RA>X^T)M8?N MW[D<5+!X;ILD4 M;W'V9G\U6VR>F._UKHZR5\/VBQA!)-@7?VO[P^_Z=.G^W3\Z`-RBL.YUN:"64^5&8B[Q1Y]N:OUS^ MKZ!E`&IJ6IVNF6[37,@&!D("-S#..!W MJ8W4`C+^:F`=OWA][T^OM7,7WAW4KM'\PV9Y7/^NV[=W3ICGZT,#5M]0MIXX&\Q8VG7U M7#2NL^3OEW]`W'0?C0P1TUSJ-I;63W;S*T*G&4.[)SC`QWS51/$%J8I&DAN8 M7C=$:.6/:PW'`.,]*2^T;SM%CL[;RH9(2CI@83JL9-@??E=N#Z*`)+G7[2WE,82>9P%($2;M MVX$\?@,_C3/^$DT\R0JIE=955MZQG:FXX7<>V352XTK57LKB.W>VADNIRTOS ML,1@`!5(7C@57N/#E[+=6\B+:Q^6D:J5=OW&TY.T8^;/O0'0UI_$%C;LRR,P M83^0JX&7;C)'/09ZU*=7@_M-K!(;B252`[I&2BY&>3VJA)HD\NCPP$Q"Z$XF MD@XX%:E%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%5I;3S9"_P!HG3/\*/@"K-9.JHPU32Y! M-)M,Y7RP?E^XQS]:`+?V'_IZNO\`OY1]A_Z>KK_OY5'56G:PDOO(:VN++,D> MY@P<`<@X/0BLIKZ]TV\\A)%+-YKJ[=)$@19I?-<#E] MH&?P%`$/V'_IZNO^_E'V'_IZNO\`OY5NB@"I]A_Z>KK_`+^4?8?^GJZ_[^5; MHH`J?8?^GJZ_[^4?8?\`IZNO^_E6Z*`*GV'_`*>KK_OY1]A_Z>KK_OY5NB@" MI]A_Z>KK_OY1]A_Z>KK_`+^5;HH`J?8?^GJZ_P"_E'V'_IZNO^_E6Z*`*GV' M_IZNO^_E'V'_`*>KK_OY5NB@"I]A_P"GJZ_[^4?8?^GJZ_[^5;HH`J?8?^GJ MZ_[^4?8?^GJZ_P"_E6ZR]0?4UU&U%I'$T!+;BS,/X3][`.!Z>]`%G[#_`-/5 MU_W\H^P_]/5U_P!_*P],EAM]59VGMIS(9GED`97@`;/SY/3MT'XU7NI91K:+CL=)]A_Z>KK_OY2I9[75OM-P<'."_!KF=.M_M MD#PI-`V88YI67<5W`\K("QRWJ>/I5S1+PQWL<$RM))*B*DC-\VP*2IV^AP23 MGJV*8CI****0!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`56EN_*D*?9YWQ_$B9! MJS69=:PL&J)8*D9.YA6 M:)MR-R#@C/YT`0?;O^G6Z_[]T?;O^G6Z_P"_=6Z*`*GV[_IUNO\`OW1]N_Z= M;K_OW5NB@"I]N_Z=;K_OW1]N_P"G6Z_[]U;HH`J?;O\`IUNO^_='V[_IUNO^ M_=6Z*`*GV[_IUNO^_='V[_IUNO\`OW5NB@"I]N_Z=;K_`+]T?;O^G6Z_[]U; MHH`J?;O^G6Z_[]T?;O\`IUNO^_=6Z*`*GV[_`*=;K_OW1]N_Z=;K_OW5NB@" MI]N_Z=;K_OW1]N_Z=;K_`+]U;JO->003Q0R2!7E)"C/H,T`1B]`)(M+G)Z_N MZ/MHW;OLESG&,^738=2CGU2:RC4GRDW-)VSG!`^E#ZB!J8L4@D9S&S[R-JDC M'`/?K^%`"_;%P1]CN,-U'E=:T[4!J`+QQ,L81268_P`1&=N/8$?G0!=HHI*`%HK%MM>: M:"^N&M&\JV;"[&W%CZ$=C^@_"ITU=7U*.S5$W-&KDM,`W()P%ZGI0!IT5DSZ MXD,LJM`QC4LB.&'SNN,KCMR>OL:2VUSSKKR7M6CVR^3*V\$)(?,D>>@)Y-4?MMW?OC3T"0CK/*.&^@H`U:AFN[>W.)IXXSZ,P!JB=.N MKG"WUX7B')CB7;GZFGQV>E6LHBV0"5NBR,&8_0&@"-]4EN)-FF0BX"\DN7TF1X%\FX9/E5B`5/ID\9]*>^H:?;.(7N[:)LX"&15/Y4NHFU&GSF M]Q]F"Y?KT_#G\J3V&MS#L+Z\;3;!DNFQ6;SS))Q[U-::C?-<1/2><)5"LJ!PR$GY?[O..?<&M'[#_T M]77_`'\H^P_]/5U_W\H`R'\,RRO(TM\&+*Z;C&Q8AB#SEL<8Z`"NA'`JK]A_ MZ>KK_OY1]A_Z>KK_`+^4`6Z*J?8?^GJZ_P"_E'V'_IZNO^_E`%NBJGV'_IZN MO^_E'V'_`*>KK_OY0!;HJI]A_P"GJZ_[^4?8?^GJZ_[^4`6Z*J?8?^GJZ_[^ M4?8?^GJZ_P"_E`%NBJGV'_IZNO\`OY1]A_Z>KK_OY0!;HJI]A_Z>KK_OY1]A M_P"GJZ_[^4`6Z*J?8?\`IZNO^_E'V'_IZNO^_E`%NBJGV'_IZNO^_E'V'_IZ MNO\`OY0!;JG=:79W=U%<3P(\D><$H#NXQSDKK_OY M0!4MM#2SNS<6MQ*I$114D9G4$G.2,\CVJX]H7U""[,G,4;IMV]=V.>O'2D^P M_P#3U=?]_*/L/_3U=?\`?R@!+6R^RV1F9>&9B3R/R'X52M=$:VU M"*Y$X8*,OD?,S8.>?0ELX]0*O?8?^GJZ_P"_E*EGM=6^TW!PB@#>-IY)1D=..M%MHDL5V9I+I7$DPN)5$>,N, MXP<\#D<<]*V:*`&LH88.?P)%-\I?5_\`OL_XU)10!'Y2^K_]]G_&CRE]7_[[ M/^-244`1^4OJ_P#WV?\`&CRE]7_[[/\`C4E%`$?E+ZO_`-]G_&CRE]7_`.^S M_C4E%`$?E+ZO_P!]G_&CRE]7_P"^S_C4E%`$?E+ZO_WV?\:/*7U?_OL_XU)1 M0!'Y2^K_`/?9_P`:/*7U?_OL_P"-244`1^4OJ_\`WV?\:/*7U?\`[[/^-244 M`1^4OJ__`'V?\:/*7U?_`+[/^-244`1^4OJ__?9_QH\I?5_^^S_C4E%`$?E+ MZO\`]]G_`!H\I?5_^^S_`(U)10!'Y2^K_P#?9_QH\I?5_P#OL_XU)10!'Y2^ MK_\`?9_QH\I?5_\`OL_XU)10!'Y2^K_]]G_&CRE]7_[[/^-244`1^4OJ_P#W MV?\`&CRE]7_[[/\`C4E9>IZ[::<2K,'<'!&X`#ZF@#0\I?5_^^S_`(U1FU+3 MX9FB>X?'88R&!/X8Z?6J6G>$+C5;?[;?W+VTDAR MB!,E5[9]*`-O4O$VGV1PC/(?7S&`_P`3^58-WXKN;NXVZ?%<.-N=D3-D>YXR M:VM/\%:?;OYMY(][+_M\+^7^)K=LM/M-/1EL[>.$,1^5>AT4`Y],^N.M>@5B>)/# MT.MVX8$1W48_=R=C['V_E0`]M3CE"1V<^2<_05='P_L_*(-[.9.S!1@?A_\`7KL**`.23P!IX@*OE2:?9:CH^KS7-RL=Q'_>"&2,>0T$"/*K?>?.5(QP`<\\U8N=%G&M6@M(72UC:)W?S%V' M8".F,@]N.#FNGHH6@/6X4444`%9.JHPU32Y!-)M,Y7RP?E^XQS[FM:JTMWY4 MA3[/.^/XD3(-`'/Z=*R7D+P*T]X?.^UQAP&.&^7=DX'M[5:U**?[5;O$S6QU M`B"X3()&`3D$<;L`C/N/2M/[:`21:7.3U_=TOV[_`*=;K_OW0!S5OK=Y`LJD MQI'''(!$`K&':<+P#G_OH^]36.K7]Y=1VJW:C,Y3S`J.2NS=CCY>HQQ6]]M& M2?LESD]?W?6@7H``%I<@#H!'0!;I:J?;O^G6Z_[]T?;O^G6Z_P"_=`%NBJGV M[_IUNO\`OW1]N_Z=;K_OW0!;HJI]N_Z=;K_OW1]N_P"G6Z_[]T`6Z*J?;O\` MIUNO^_='V[_IUNO^_=`%NBJGV[_IUNO^_='V[_IUNO\`OW0!;HJI]N_Z=;K_ M`+]T?;O^G6Z_[]T`6Z*J?;O^G6Z_[]T?;O\`IUNO^_=`%NBJGV[_`*=;K_OW M1]N_Z=;K_OW0!;K+U!]374;46D<30$MNW,P_A/WL`X]O>K/V[_IUNO\`OW1] MN_Z=;K_OW0!CV%W/_;\TU]%-`&MR<2%0D2AN.<_F?4U9NAL\00RO4]K*< M;@%0#;R/YY-7_MW_`$ZW7_?NC[=_TZW7_?N@.ISUG;6NHQ7!L;J%(-J'RGDW MF3:A@0;2Y( M/4&.E2Z5I5_T2=6/RAC'C`^OI0!;HHHH`****`"BBB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**P/$NMI8VS16\F9VX.SJ/; MZFL9_%FHVT:6TEK+]H'!#1'=]/>@#N*@N;RWM!F>94]`3R?PKB9)O%&J<)9S MH.N9?W8_(XJU:^$;^]8OJ]Z8U_YYP');ZD__`%Z`-#6?%5K:VS"V?=(PX;&, M?0'J:P5U_7;1%N+BUNDM^,NZ$C';.171:;X0TK3YQ,$DG=3E3.0P4_0`"MR6 M-)HVCE0.CC#*PR"*`*.DZQ;:G`&1U63'*Y_4>U$VM6:!A')YT@.`B`DL?:N2 MU7PY?:/=&?2HC=6;'/D'+%?;`Y(]QSZU&8O%^ M>:`+&J^*2/,C^T2-+G'DP8"K[%^I_#-1Z3X8O=7F2ZU<&"V!RL`R&;\.P]SS M71:#H-CHMNH8Q2W?5Y6`R#Z#T%:YN8%ZS1CZL*`,RS\+Z/93K-#:`R*1',1ZA.*/[1AZ!) M2W90G)H`N453^VR=?L9?C_EC$?HU`%RBJ>V_?J\,0_V02?UH^Q2- M_K+N8_[IVT`7**I_8%'2XN!])*#9..8[N<'_`&FW"@"Y3)94AB:65PB(,LS' M``JMMOTX$D,@]6!!_2FZE&9-)F2:-Y25^98?O=>J^XZTGL")8+^TN+>.>*X1 MHI&"HV<9/I]?:G0W=M/+)%#/'))$<.JL"5^M>W5?W$,1MW4`,XY)(QDG'0\#\:H#3.I6($Q-W`/ M)XD^+ZT:6.);F$R2KNC4.,L/4>M82/$TTEP]GO/45+]OM?M$=OYP\V1=RK M@\CJ/Y&@"S151M2LTEEB:=0\2EG![`=>?Q'YTD.JV4\L<45PK/)]U<$>O!]# MP>#SQ0!@"S169_PD&ED@+=>83VC1G(^N M`EMQDG#D\D%L_\`?6[FIH/"K.Q,X7).27P2?KU)/XT` M=1%-%,"8I4D`Z[6!HDGBAC:265$1/O,S``?6L-O"T'!0P!AW>#=_6A/"\2NC M;K;@\[;8`_@<\4`6V\1:8IPL[.?]F-L?GC%-@\06L]T(5215/&]@,`^_H*L1 MZ/9Q_P`!/U./Y53UC1Y);=#IN(YD;)5G(#CTSSCUH`L7FMVMJI.0V/XBP5?S M-9LWBE!\T839_>!R/SR*N:/H,-D@GNU2>];EI",A/9<]![]ZO-I>GO,9FL;9 MI2<[S"I;/KG%`%'3]:DOHVDBB614QN"'G!Z'^?Y5>DU&W2U:??D#^$?>SZ8K ME]2COO#>H2W=G`TEG(2;FX>3_97Y15RB@"L+"U`QY*_ MK3EL[91Q!'^*YJ>B@"N;*V/6!/P&*>EM!']R)`?7'-2T4`%%%%`!1110`444 M4`%%%%`!1110`4444`%)2T4`(``,`8%!4-C<`<'(R.]+10`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%)2T4`WUZ<>AJ6:WN;:8 M2-;N\:M%,74J<;$P5QGKGI]:Z&BA:`SFKO3;V:21$@.(Y9)E>2L)?[Z?]\'_&C$O]]/\`O@_XU)10 M!'B7^^G_`'P?\:,2_P!]/^^#_C4E%`$>)?[Z?]\'_&D6-USM,8SUPG_UZEHH M`CQ+_?3_`+X/^-&)?[Z?]\'_`!J2B@"/$O\`?3_O@_XT8E_OI_WP?\:DHH`C MQ+_?3_O@_P"-&)?[Z?\`?!_QJ2B@"/$O]]/^^#_C1B7^^G_?!_QJ2B@"/$O] M]/\`O@_XT8E_OI_WP?\`&I**`(\2_P!]/^^#_C1B7^^G_?!_QJ2B@"/$O]]/ M^^#_`(T8E_OI_P!\'_&I**`(\2_WT_[X/^-&)?[Z?]\'_&I**`(\2_WT_P"^ M#_C1B7^^G_?!_P`:DHH`CQ+_`'T_[X/^-&)?[Z?]\'_&I**`(\2_WT_[X/\` MC1B7^^G_`'P?\:DHH`CQ+_?3_O@_XT8E_OI_WP?\:DHH`CQ+_?3_`+X/^-&) M?[Z?]\'_`!J2B@"/$O\`?3_O@_XT]+`C:'*))`@SW!*DX.`?3_'%9=M&5V2.6-V3[RJP)'UJ2@"C_;6E?\`03L_^_Z_XT?VUI7_ M`$$[/_O^O^-7J*`*/]M:5_T$[/\`[_K_`(T?VUI7_03L_P#O^O\`C5ZB@"C_ M`&UI7_03L_\`O^O^-']M:5_T$[/_`+_K_C5J6:*!0TTB1J3@%V`&?2D:Y@24 M1--&LAX"%AD_A0!6_MK2O^@G9_\`?]?\:/[:TK_H)V?_`'_7_&K,5S!.Q6&> M.1EZA'!(J6@"C_;6E?\`03L_^_Z_XT?VUI7_`$$[/_O^O^-7J*`*/]M:5_T$ M[/\`[_K_`(T?VUI7_03L_P#O^O\`C5ZB@"C_`&UI7_03L_\`O^O^-']M:5_T M$[/_`+_K_C5ZHS-$LRPF1!*PR$+#<1]*`*O]M:5_T$[/_O\`K_C1_;6E?]!. MS_[_`*_XU96Y@9U19HRS`D*&&2!UIT4L?#YC1^:GF(-S+N&5'J10LT3*661"H&20P MP!C.:`*O]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU=!!`(.0>A%+0!1_MK2 MO^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[:TK_ M`*"=G_W_`%_QJ]10!1_MK2O^@G9_]_U_QH_MK2O^@G9_]_U_QJ]40N8#YF)X M_P!V:-1NVY+`?-Z?6I*`*7]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU>HH`H_ MVUI7_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7J*`*/\`;6E?]!.S_P"_Z_XT M?VUI7_03L_\`O^O^-7JB%S`?,Q/'^[.'^?>NHHI6'?8Y_PU#-;L86$Q419E,T M(1EDW'(!`^8=^I[<\UT%%%,04444`%%%%`&3K^UH8XS;O(\A9!(L+2"($8+8 M4'G'`K(DM9&NII!!,WGA8[W+0B M)GDV(-NWY%Z?FW*Q6TT+#=$K>0_[QGP M&_/&/PK;HI=+#OKW%2T453U)2L%%%%(84444`)7-0Q+<71$=M-;J\JQA&@=,(K%RQ8C!)(]> M]=-11U#H8C)#YH9RF.<@\9..GMQ71VYWT6T2YN4E=&< M1@1@$Y()[D>E5-&\3V6M7;VUM%<(ZH9"9%4#`('8GUJ+QGIMWJFDQ0647FR+ M.'(W!>-K#N1ZBLKP9H.I:7JTL][;>5&T!0'>K<[E/8GT-`'3+JB/>R6ZVUP1 M$VQYMH\M3C/)SZ'TJPM[:LP5;F$E@2`)!R!UJA_8X,E_,P4S7#-Y;;VP`4"\ MCIZUG7/AZ[>2-8?LZ1HB#@[>0I!R`N3R>N?PI=!FZ=0M=Z!9D<.6&Y6!48&3 MD]JCCU6U>25"_EB,D%W("Y!QUS61-XG17MO(BMY MBIO=D4.0"Q4D''KTK-_L1I+.RMIBFR'S`^TGN#@KQU&1^54I/#UZZ0"2:.1P MK+(PO3CG'-`'2">(XQ*ASC&&'.>GYU'->P6]PL,SA"R-)N8@*` M"`4E"I$A!7&<@-CW],'TH.@W`N(I;AXWC54,FPX`VC!`4+SG\.IXH`V M[V_CL[=IO+DF"PV]K-<,V](5W,$()QC-1V^H1RINFCDM2D`5(T$F=Q+$,RX!&?2A@:'VNV\OS/M$/E[ MMN[>,9],^M35R?\`PC5YY8.4W#Y?+\XX(V[I);Q;T$84GJ@=J'MH-;DUIK M%MIJ2T\/W-M`&=;>69'C8*6.&"YRI.WWSTZB@1M#4;7S M)5:9$$>W+NP"G<,C![U+)=6\2;Y)XD7)&6<`9'6N>NM!OI0VP6BAP`40[0OR MXX)4\<]NOM47]C3W$TP0!E@V;`2R`2$#>58C_9'.".30!T-SJ$%K+:QR$_Z4 M^R,KR,XS1:ZE;733K&^/(E:)MV!DJ`3CVYK.O-'NKBPL8A)"LULI.X#"APOR MX`'3./2JZZ%>6\1\EH)'9FSNP(<"17(<(P5@=A/KSQ6"?#EQ]G15:W$@=F9LGD$+CM_LTMQHUT+ M)D\NV'DY(D7)DE'S'GCWZ<\YYH>@+4WOMMKY7F_:8?+W;=_F#&?3/K5>;588 MH'E$E'4.AJ6VHVUQ$C[_*9W*!)<*VX'!&/6I/ME MJ5=A,+]?2L`:!=*C(%M]LH*!=['[."V[*DC+'\N<4]=`N(OL[H+= MVA`+(20)#O)Y./0_F*`-8:G;FRBN\MY4KA%/'4MCGVI\FH6D=L]P;B(QID$J MX//I]?:LZ;2+B3P]%8`PK*K!C@G8/FS@<9_2JTF@7",6A2U<>4(_+8D+G9M+ M=.Q_2CN/JC'+ MM'<;H7!5AN>0X^90N-NWM]>PZ=M?3M*2VBM_/57FM]RI(K'D'/)'3<<\TQ=# M2HHHI`,D<1QL[9PH).*H_P!L6_\`G:JQTJ:[N4FU%PP\ID989'0*T(94FA26,Y1U#*?4&L^#2(0UQYR*5: M7?$$8KM7:H[8P@%`#Z***`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`R9-;2WEG2>*1BDS(@B7)(5%8D\^YJ3^V[ M3#L%F,2#_6",[6/'RCWY%.?2+=YI)2\NZ1G8X(Q\RA3V]!40T*$1M$+BX$)' M$88`!N/FZOWU$>3'R!SSZD=,]:=#X@LIKA(!YB MR,VPAEQL;)&T\]>.U"Z%!F1Y)II)9<>8Y*@L0P;/`]@/I21Z!:QWWVI'D#&0 MRLI"GN,@<]`>PH0$5_J\UMJCVXDMHXXT5SYB,6;.1BH;")GC;NSU]*MFRB::XE8L3<1B-QGC`ST_[Z-4H=`@C8N]Q<2N4*98KT MV[>P]*.@^HZ/6$N-1@M[=&:*3=F4K@$@`X!_&M2LVUT>*TN(Y8YYBD>2L1(V M@D8)Z9_6M*@04444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% 0%`!1110`4444`%%%%`'_V3\_ ` end GRAPHIC 22 tf1_a0415x87x1.jpg begin 644 tf1_a0415x87x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M&P*C`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[7^TK3_GM_XZ?\*/[2M/^>W_`(Z?\*EM;J&\@$UNQ>,]&VD9 M_.IJ`*G]I6G_`#V_\=/^%']I6G_/;_QT_P"%2IN".P/?V(H`C_M*T_Y[?\`CI_PH_M*T_Y[?^.G_"IXY8Y&=4<, M8VVN`?NG&W_`(Z?\*MU%%/%,9!&^XQ/ ML?V.,X_44`0_VE:?\]O_`!T_X4?VE:?\]O\`QT_X5/'+'(SJCAC&VUP#]TXS MC\B*DH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;HH`J?VE:?\]O_`!T_X4?V ME:?\]O\`QT_X5;HH`J?VE:?\]O\`QT_X4?VE:?\`/;_QT_X5;HH`J?VE:?\` M/;_QT_X4?VE:?\]O_'3_`(5;HH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;H MH`J?VE:?\]O_`!T_X4?VE:?\]O\`QT_X5;HH`J?VE:?\]O\`QT_X4?VE:?\` M/;_QT_X5;HH`J?VE:?\`/;_QT_X4?VE:?\]O_'3_`(5;HH`J?VE:?\]O_'3_ M`(4?VE:?\]O_`!T_X5;HH`J?VE:?\]O_`!T_X4?VE:?\]O\`QT_X5;HH`J?V ME:?\]O\`QT_X4?VE:?\`/;_QT_X5;HH`J?VE:?\`/;_QT_X4?VE:?\]O_'3_ M`(5;HH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;HH`J?VE:?\]O_`!T_X4?V ME:?\]O\`QT_X5;HH`J?VE:?\]O\`QT_X4?VE:?\`/;_QT_X5;HH`J?VE:?\` M/;_QT_X4?VE:?\]O_'3_`(5;HH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;H MH`J?VE:?\]O_`!T_X4?VE:?\]O\`QT_X5;HH`J?VE:?\]O\`QT_X4?VE:?\` M/;_QT_X5;HH`J?VE:?\`/;_QT_X4?VE:?\]O_'3_`(5;HH`J?VE:?\]O_'3_ M`(4?VE:?\]O_`!T_X5;HH`J?VE:?\]O_`!T_X4?VE:?\]O\`QT_X5;HH`J?V ME:?\]O\`QT_X4?VE:?\`/;_QT_X5;HH`J?VE:?\`/;_QT_X4?VE:?\]O_'3_ M`(5;HH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;HH`J?VE:?\]O_`!T_X4?V ME:?\]O\`QT_X5;HH`J?VE:?\]O\`QT_X4?VE:?\`/;_QT_X5;HH`J?VE:?\` M/;_QT_X4?VE:?\]O_'3_`(5;HH`J?VE:?\]O_'3_`(4?VE:?\]O_`!T_X5;H MH`J?VE:?\]O_`!T_X4?VE:?\]O\`QT_X5;I*`*O]I6G_`#V_\=/^%']I6G_/ M;_QT_P"%26MW!>1F2VE61%8H2/4=14]`%3^TK3_GM_XZ?\*/[2M/^>W_`(Z? M\*MU%-/%;A3*^T.X1?5A(JAB!&S8![D@<=#5N-TEC62-@R,`58'((H`K?VE:?\]O_`!T_X4?V ME:?\]O\`QT_X5;I"0`23@#J:`*O]I6G_`#V_\=/^%']I6G_/;_QT_P"%6(I4 MFB26)@Z.`RL.A%/H`J?VG9_\]O\`QT_X4?VE:?\`/;_QT_X4^^_X\IO]PU.. ME`%7^TK3_GM_XZ?\*/[2M/\`GM_XZ?\`"G7>H6MD4%S,(R^2,@G@=3QT'O2? MVC:&[^RB7,W'RA2>HSUQCI0!:HHHH`Y:VT6YM[.8BU_?+:1QQ+YF/FP=_0_X M9]:;8Z/=O.B7-NXL_.+E&*J-OEX^Z&./F[5U=%#U`Y+1](U.U#FZB:0/O54, M@)0E0`_7G.,>H_.I=/T:[\JUAO8"8EE)D4R`C;Y0`Z'^\*ZBB@#B8-#U*&W* M26TF#-OD`9',@V`#@L,X.>OKGFKBZ+?/'FX1WE40!&,HR`&.\9S_`'>#Z^]= M510!R$]C+'?&T-I++^ZF,"+(`(\N-K0>"?>NIP,YP,],TM'0.IQUAHU[;`_:[.6>,REY%$BDR`H`O\`$,[3 MG.?7/-68='OS&TDZ,UPBP^2WFY*X8EAU[+@$]ZZBB@#$U2WGN;E9&L9IXA&R M)&)50J^>'SG@$=^H]*JS:??-=.RP2>>9BPN?-&WRMN-G7/MC'O72T4K#N)G*8CV[2`37744=;ATL85_I5W=:A> M30W$MN'@18RC`*[#=D,.N.1Z=:HS:7J#7,#1020JL<2Q*K*1!C[PW;N/J`75JTEE%+$_[X22F0#SAOX4U+2MI8=RAHEN]KH]K!)"89(XPK(2#SW/!(Y MZU?HHJF[B(+Q6>TE502Q4@`5,.E+12`PO$%C<74ZM'%,Z&!XQY#JIW$CALD9 I7BF0V5W'J"-'!-#(95>:59\PNFT`C9GKQCIQZUT%%"T!ZA1110!__]D_ ` end