Agenda packet — Garden Grove City Council, May 13, 2025 (part 1 of 2)

AGENDA

Garden Grove City Council

Tuesday, May 13, 2025
6:30 PM

Community Meeting Center
11300 Stanford Avenue
Garden Grove, California 92840
Stephanie Klopfenstein
Mayor
Joe DoVinh
Mayor Pro Tem – District 4
George S. Brietigam
Council Member – District 1
Phillip Nguyen
Council Member – District 2
Cindy Tran
Council Member – District 3
Yesenia Muñeton
Council Member – District 5
Ariana Arestegui
Council Member – District 6

Meeting Assistance: Any person requiring auxiliary aids and services, due to a disability, to address the City Council, should contact the City Clerk's Office 72 hours prior to the meeting to arrange for accommodations. Phone: (714) 741-5040.

Agenda Item Descriptions: Are intended to give a brief, general description of the item. The City Council may take legislative action deemed appropriate with respect to the item and is not limited to the recommended action indicated in staff reports or the agenda.

Documents/Writings: Any revised or additional documents/writings related to an item on the agenda distributed to all or a majority of the Council Members within 72 hours of a meeting, are made available for public inspection at the same time (1) in the Cit y Clerk's Office at 11222 Acacia Parkway, Garden Grove, CA 92840, during normal business hours; (2) on the City's website as an attachment to the City Council meeting agenda; and (3) at the Council Chamber at the time of the meeting.

Public Comments: Members of the public who attend the meeting in -person and would like to address the City Council are requested to complete a pink speaker card indicating their name and address, and identifying the subject matter they wish to address. This card should be giv en to the City Clerk before the meeting begins. General comments are made during "Oral Communications" and should be limited to matters under consideration and/or what the City Council has jurisdiction over. Persons wishing to address the City Council rega rding a Public Hearing matter will be called to the podium at the time the matter is being considered.

Manner of Addressing the City Council: After being called by the Mayor, you may approach the podium, it is requested that you state your name for the r ecord, and proceed to address the City Council. All remarks and questions should be addressed to the City Council as a whole and not to individual Council Members or staff members. Any person making impertinent, slanderous, or profane remarks or who becomes boisterous while addressing the City Council shall be called to order by the Mayor. If such conduct continues, the Mayor may order the person barred from addressing the City Council any further during that meeting.

Time Limitation: When any group of persons wishes to address the City Council on the same subject matter, the Mayor may request a spokesperson be chosen to represent the group, so as to avoid unnecessary repetition. At the City Council's discretion, a limit on the total amount of time for public comments during Oral Communications and/or a further limit on the time allotted to each speaker during Oral Communications may be set.

PLEASE SILENCE YOUR CELL PHONES DURING THE MEETING.
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AGENDA

ROLL CALL: COUNCIL MEMBER BRIETIGAM, COUNCIL MEMBER NGUYEN, COUNCIL MEMBER TRAN, COUNCIL MEMBER MUÑETON, COUNCIL MEMBER ARESTEGUI, MAYOR PRO

TEM DOVINH, MAYOR KLOPFENSTEIN

INVOCATION

PLEDGE OF ALLEGIANCE TO THE UNITED STATES OF AMERICA

PRESENTATIONS

1. Community Services 2025 Summer Program Update.

[Item 164/2025]

ORAL COMMUNICATIONS (TO BE HELD SIMULTANEOUSLY WITH OTHER

LEGISLATIVE BODIES)

RECESS

CONDUCT OTHER LEGISLATIVE BODIES' BUSINESS

RECONVENE

CONSENT ITEMS (CONSENT ITEMS WILL BE ACTED ON SIMULTANEOUSLY

WITH ONE MOTION UNLESS SEPARATE DISCUSSION AND/OR ACTION IS

REQUESTED BY A COUNCIL MEMBER)

2. Adoption of a Proclamation celebrating May 4 - May 10, as National Small Business Week. (Action Item)

[Item 159/2025]

3. Adoption of a Proclamation recognizing May 18 - 24, 2025 as National Public Works Week. (Action Item)

[Item 165/2025]

4. Adoption of a Proclamation recognizing May as Building and Safety Month. (Action Item)

[Item 168/2025]

5. Adoption of a Proclamation recognizing May as Mental Health Awareness Month. (Action Item)

[Item 167/2025]

Page 3 of 3 ends

6. Adoption of Resolutions for: Initiating Proceedings for the levying of Fiscal Year 2025-26 Assessment for the City of Garden Grove Street Lighting District, Street Lighting District No. 99-1, and Park Maintenance District; the Engineer's Report; and Intention for Fixing a Time and Date to Conduct a Public Hearing. (Action Item)

[Item 170/2025]

7. Approval of the Fiscal Year 2025-26 Downtown Assessment District Budget; Adoption of a Resolution Initiating Proceedings for the Levying of Assessments for Fiscal Year 2025-26; Adoption of a Resolution Approving the Engineer’s Report; and Adoption of a Resolution of Intention Fixing a Time and Date for a Public Hearing. (Action Item)

[Item 171/2025]

8. Acceptance of an easement for public street and highway purposes for the property located at 11081 College Avenue. (Action Item)

[Item 160/2025]

9. Authorization for the issuance of an emergency purchase order with Tess Electric for electrical equipment replacement at Well No. 31. (Cost: $54,225.64) (Action Item)

[Item 161/2025]

10. Receive and file warrants. (Action Item)

[Item 169/2025]

PUBLIC HEARINGS (MOTION TO APPROVE WILL INCLUDE ADOPTION OF EACH

RESOLUTION UNLESS OTHERWISE STATED)

11. Adoption of a Resolution confirming the Garden Grove Tourism Improvement District Advisory Board Report and levying an assessment for Fiscal Year 2025- 2026. (Action Item)

[Item 166/2025]

ITEMS FOR CONSIDERATION

12. Adoption of a Resolution to approve a 180-day wait period exemption to hire a retired annuitant for the Community Services Department. (Action Item)

[Item 173/2025]

MATTERS FROM THE MAYOR, CITY COUNCIL MEMBERS, AND CITY MANAGER

ADJOURNMENT

The next Regular Meeting is scheduled for Tuesday, May 27, 2025, at 5:30 p.m. in the Community Meeting Center, 11300 Stanford Avenue, Garden Grove, California, 92840. 3 Item 159/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: Ursula Luna-Reynosa
Dept:

City Manager Dept: City Clerk
Date: 5/13/2025

Subject: Adoption of a Proclamation celebrating May 4 - May 10, as National Small Business Week. (Action Item)

OBJECTIVE

For the City Council to adopt a Proclamation celebrating May 4th – May 10th, 2025 as National Small Business Week in Garden Grove.

BACKGROUND/DISCUSSION

Small businesses have been recognized by the U.S. Small Business Administration (SBA) since 1963 and each year celebrates National Small Business Week (NSBW ), which acknowledges the critical contributions of America’s entrepreneurs and small business owners.

The City of Garden Grove recognizes the vital contributions of small businesses, which provide essential goods and services, support local jobs, contribute to our sound and flourishing economic base, and foster the unique character and culture of our neighborhoods.

FINANCIAL IMPACT

There is no financial impact.

RECOMMENDATION

It is recommended that the City Council:
 Adopt the Proclamation celebrating May 4 – May 10, 2025 as National Small Business Week in Garden Grove.

ATTACHMENT(S)

1. Proclamation

4 Proclamation
National Small Business Week
May 4 - May 10, 2025

WHEREAS, America’s 34 million small businesses are the backbone of our economy, responsible for creating two -thirds of net new jobs and driving innovation and economic growth in communities across the nation; and

WHEREAS, the City of Garden Grove recognizes the vital contributions of small businesses, which provide essential goods and services, support local jobs, and foster the unique character and culture of our neighborhoods; and

WHEREAS, small businesses in Garden Grove are owned and operated by dedicated individuals whos e entrepreneurial spirit and resilience contribute significantly to the city's prosperity and vibrancy; and

WHEREAS, the City of Garden Grove is committed to nurturing a thriving local economy through programs, partnerships, and support services that assist small business development and sustainability; and

WHEREAS, the U.S. Small Business Administration has declared the week of May 4 through May 10, 2025, as National Small Business Week, recognizing the critical impact of small businesses across the country.

NOW, THEREFORE, th e Garden Grove City Council, does hereby proclaim May 4th through May 10
th, 2025 as National Small Business Week in Garden Grove , and encourages all residents to support local businesses and recognize the remarkable efforts and achievements of small business owners and entrepreneurs in our community.

May 13, 2025
5 Item 165/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: William E. Murray
Dept:

City Manager Dept: Public Works
Date: 5/13/2025

Subject: Adoption of a Proclamation recognizing May 18 – 24, 2025 as National Public Works Week. (Action Item)

OBJECTIVE

For City Council to adopt a proclamation recognizing the week of May 18 - 24, 2025 as National Public Works Week in the City of Garden Grove.

BACKGROUND

Public Works professionals are responsible for planning, building, maintaining, and operating the infrastructure and services essential to public health, safety, environmental sustainability, and the overall quality of life in Garden Grove.

DISCUSSION
The Public Works Department oversees more than $120 million in capital, operating, and utility budgets to manage the City’s infrastructure and services. Public Works divisions include Engineering, Water, Streets, Facilities, and Administration —each critical to sustaining the city’s safety, mobility, public facilities, and utility systems.

In FY 2023-24, the department’s accomplishments included:
 Rehabilitating 68 residential and arterial streets and 33,000+ sq. ft. of sidewalk and curb.
 Maintenance and upkeep of 139 traffic signals and 840 city-owned street lights.  Managing 31 private development projects and constructing citywide infrastructure under a $70 million Capital Improvement Program.  Clearing 15 tons of debris from storm channels and cleaning 1.2 million linear feet of sewer lines.
 Trimming 2,741 trees, planting 500, and removing 142 dead or hazardous trees.
6 Item 165/2025

Page 2 of 2 ends

 Closing 1,800 vehicle maintenance work orders, including support for Public Safety operations.
 Completing major capital improvements t o City libraries, parks, and building systems.
 Conducting community clean -up events, and successfully implementing SB 1383 organic waste diversion requirements.

The department’s dedicated engineers, managers, and frontline employees work 24/7 to deliver safe drinking water, maintain parks and buildings, respond to emergencies, enhance traffic safety, enforce environmental compliance, and ensure efficient public service delivery.

The theme of this year’s National Public Works Week is “People, Purpose, and Pr esence”, celebrating the workforce whose purpose is to serve the community, whose presence keeps Garden Grove functioning, and whose people power progress.

FINANCIAL IMPACT

None.

RECOMMENDATION

It is recommended that the City Council:

 Adopt the Proclamation recognizing May 18 – 24, 2025, as National Public Works Week in the City of Garden Grove.

By: Ana V. Neal, Principal Administrative Analyst

ATTACHMENT(S)

1. Proclamation

7 Proclamation
National Public Works Week
May 18 – May 24, 2025
“People, Purpose, Presence”

WHEREAS, Public Works professionals focus on infrastructure, facilities, and services that are of vital importance to sustainable and resilient communities and to public health, high quality of life, and well-being of the people of the City of Garden Grove;

WHEREAS, These infrastructure, facilities, and services could not be provided without the dedicated efforts of public works professionals, who are field employees, managers and engineers at all levels of government and the private sector, who are responsible for rebuilding, improving, and protecting our nation’s transportation, water supply, water treatment and solid waste systems, public buildings, and other structures and facilities essential for our citizens; and,

WHEREAS, It is in the public interest for the citizens, civic leaders, and children in the City of Garden Grove to gain knowledge of and maintain an ongoing interest and understanding of the importance of public works and public works programs in their respective communities; and,

WHEREAS, the year 20 25 marks the 65th
annual National Public Works Week
sponsored by the American Public Works Association/ Canadian Public Works Association.

NOW THEREFORE, the Garden Grove City Council d oes hereby proclaim May 18th through May 24 th, 20 25, as National Public Works Week in Garden Grove , and encourages residents to join in activities, events, and ceremonies designed to pay tribute to our public works professi onals to recognize the substantial contributions they make to protecting our national health, safety, and advancing quality of life for all.
8 Item 168/2025
Final
City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: Niki Wetzel
Dept:

City Manager Dept: Community Development
Date: 5/13/2025

Subject: Adoption of a Proclamation recognizing May 2025 as Building and Safety Month. (Action Item)

OBJECTIVE

For the City Council to adopt a Proclamation recognizing May 202 5 as Building and Safety Month.

BACKGROUND/DISCUSSION

Building and Safety Month is sponsored by the International Code Council to raise awareness about building safety and to remind the public about the critical role of our local code officials.

This year’s theme “ Game On!” reinforces the need for the adopti on of modern, regularly - updated building codes, and helps individuals, families and businesses understand what it takes to create safe and sustainable structures.

FINANCIAL IMPACT

There is no financial impact.

RECOMMENDATION

It is recommended that the City Council:
 Adopt the Proclamation recognizing May 2025 as Building and Safety Month in Garden Grove.

ATTACHMENT(S):

1. Proclamation

9 Proclamation

May 2025 as Building and Safety Month

WHEREAS, the City of Garden Grove is committed to recognizing that our growth and strength depends on the safety and economic value of the homes, buildings and infrastructure that serve our citizens, both in everyday life and in times of natural disaster;

WHEREAS, our confidence in the s tructural integrity of buildings that make up our community is achieved through the devotion of vigilant guardians––building safety and fire prevention officials, architects, engineers, builders, tradespeople, design professionals, laborers, plumbers and o thers in the construction industry––who work year-round to ensure the safe construction of buildings;

WHEREAS, these guardians are dedicated building safety professionals depended on to implement the highest-quality codes to protect us in the buildings where we live, learn, work, and play;

WHEREAS, our community benefits economically and technologically from using modern, up-to-date codes and standards, including the International Codes, which are the most widely adopted building safety and fire prevention codes in the world;

WHEREAS, ”Game On!” the campaign theme for Building Safety Month 2025, reinforces the need for the adoption of modern, regularly-updated building codes, and helps individuals, families and businesses understand what it takes to create safe and sustainable structures; and

WHEREAS, each year, in observance of Building Safety Month, citizens worldwide are asked to consider the commitment to improve building safety and economic investment at home and in the community, and to acknowledge the essential services provided to all of us by building departments , fire prevention bureaus and other agencies in protecting lives and property.

NOW, THEREFORE, the Garden Grove City Council does hereby proclaim that the month of May 2025 be recognized as “Building and Safety Month” in Garden Grove.

May 13, 2025
10 Item 167/2025
Final
City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: Lizabeth Vasquez
Dept:

City Manager Dept: City Clerk
Date: 5/13/2025

Subject: Adoption of a Proclamation recognizing May as Mental Health Awareness Month. (Action Item)

OBJECTIVE

For the City Council to adopt a Proclamation recognizing May as Mental Health Awareness Month.

BACKGROUND/DISCUSSION

The Garden Grove City Council has demonstrated their support in recognizing the need for cultivating empathy and understanding for Mental Health Wellness by adopting a Proclamation recognizing May as Mental Health Awareness Month since 2019.

FINANCIAL IMPACT

There is no financial impact.

RECOMMENDATION

It is recommended that the City Council:
 Adopt the Proclamation recognizing May as Mental Health Awareness Day.

ATTACHMENT:

1. Mental Health Awareness Month

11 Proclamation
Mental Health Awareness Month

WHEREAS, Mental health is essential for overall well-being at every stage of life;

WHEREAS, Approximately one in five U.S. adults live with a mental health condition, and one in five children has a diagnosable mental, emotional, or behavioral disorder, yet many do not receive the m ental health care they need;

WHEREAS, The theme for Mental Health Awareness Month 2025 is “Turn Awareness into Action,” encouraging individuals and communities to take meaningful steps toward improving mental health and supporting those affected by mental health conditions;

WHEREAS, Research indicates that regular activity, good nutrition, and quality sleep can help support mental and physical well-being;

WHEREAS, The City of Garden Grove is committed to raising awareness and encouraging open dialogue about mental health to reduce stigma, promote understanding, and ensure that individuals have access to the care and support they deserve;

WHEREAS, Local organizations are dedicated to offering services, support and education to residents of Garden Grove; and

WHEREAS, Mental health conditions are real and prevalent in our nation, but with effective treatment and support, individuals with mental health conditions can recover and lead full, productive lives.

NOW, THEREFORE, the Garden Grove City Council does hereby proclaim the month of May 2025 as “Mental Health Awareness Month” in Garden Grove, and in doing so recognizes the need to raise awareness and promote services for integrated mental health and wellness solutions for children, youth and adults in our community.

May 13, 2025

12 Item 170/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: William E. Murray
Dept:

City Manager Dept: Public Works
Date: 5/13/2025

Subject: Adoption of Resolutions for: Initiating Proceedings for the levying of Fiscal Year 2025-26 Assessment for the City of Garden Grove Street Lighting District, Street Lighting District No. 99-1, and Park Maintenance District; Approving the Engineer's Report; and Intention for Fixing a Time and Date to Conduct a Public Hearing. (Action Item)

OBJECTIVE

To adopt Resolutions initiating proceedings for the levying of Fiscal Year 2025-26 assessments for (1) the City of Garden Grove Street Lighting District, (2) the City of Garden Grove Street Lighting District No. 99 -1, and (3) the City of Garden Grove Park Maintenance District (hereafter collectively referred to as "Districts"), to adopt the Resolution approving the Engineer’s Reports for those Districts; and to adopt the Resolutions of Intention for the levying of FY 2025-26 assessments for those Districts.

BACKGROUND

Annually, the City of Garden Grove levies assessments against properties within the City to pay for the installation, maintenance, and servicing of public street lighting and park maintenance. In order to continue the lighting of streets and the maintenance of parks at the current service levels, it is necessary to initiate the proceedings of levying annual assessments per the Landscaping and Lighting Act of 1972.

DISCUSSION

The first step in this process is to adopt the Resolutions initiating proceedings and order the City Engineer to prepare and file reports for the Districts. The Resolutions and Engineer's Report for each District are attached and the reports contain a general synopsis, financial summaries, a diagram showing district boundaries and the methodology used to determine the assessment levels per land use category. The following table summarizes district costs, assessment levels and general fund contributions to cover each District’s balance. The cost for each property owner was calculated based on benefits received from each district.

13 Item 170/2025

Page 2 of 3 ends

FY2025-26 District Assessments
District Name Assessment
Revenue
General Fund
Contribution
Total District
Cost
Street Lighting
Assessment
$1,353,417 $190,467 $1,543,884
99-1 Lighting District $9,879 $1,668 $11,547
Park Maintenance
District
$710,988 $2,486,813 $3,197,801

The rates for each District for FY 2025-26 are the same rates adopted by the City Council in FY 2024-25. The second step for City Council is to adopt the Resolution approving the attached City Engineer’s Report, and the third and final step is the adoption of a Resolution declaring the intention to levy and collect assessments for each District. Per these resolutions, the public hearing date has been set for May 27, 2025.

FINANCIAL IMPACT

The adoption of assessments will raise approximately $ 1,353,417 in revenue for the Street Lighting District, $9,879.14 for Street Lighting District 99 -1, and $710 ,988 for the Park Maintenance District. The assessment rate for each District is currently at the maximum level, and is insufficient to cover the cost for services. Therefore, the City must make contributions from its General Fund to each District with a total of $2.6 million in FY2025-26.

RECOMMENDATION

It is recommended that the City Council:
 Adopt the attached Resolutions initiating the proceedings and requesting the Engineer to prepare and file a report for: 1) the Street Lighting District, 2) the Street Lighting District No. 99-1, and 3) the Park Maintenance District;  Adopt the attached Resolutions approving the Engineer’s Reports for 1) the Street Lighting District, 2) the Street Lighting District No. 99 -1, and 3) the Park Maintenance District; and
 Adopt the attached Resolutions of Intention for: 1) the Street Lighting District, 2) the Street Lighting District No. 99-1, and 3) the Park Maintenance District.

By: Alexa Viramontes, Sr. Administrative Analyst

ATTACHMENT(S)

1. Resolution Initiating Proceedings- Garden Grove Street Lighting District

2. Resolution Initiating Proceedings- Garden Grove Street Lighting District 99-1

3. Resolution Initiating Proceedings- Garden Grove Park Maintenance District

4. Resolution to Approve the City Engineer's Report for the Levy of Annual Assessment- Garden Grove Street Lighting District
14 Item 170/2025

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5. Resolution to Approve the City Engineer's Report for the Levy of Annual Assessment- Garden Grove Street Lighting District 99-1

6. Resolution to Approve the City Engineer's Report for the Levy of Annual Assessment- Garden Grove Park Maintenance District

7. Resolution of Intention to Levy and Collect Assessments- Garden Grove Street Lighting District

8. Resolution of Intention to Levy and Collect Assessments- Garden Grove Street Lighting District 99-1

9. Resolution of Intention to Levy and Collect Assessments- Garden Grove Park Maintenance District

10. FY2025-26 Engineer's Report- Street Lighting District

11. FY2025-26 Engineer's Report- Street Lighting District 99-1

12. FY2025-26 Engineer's Report- Park Maintenance District

15 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (SECTIONS 22500 ET SEQ. OF THE CALIFORNIA STREETS AND HIGHWAYS CODE) INITIATING PROCEEDINGS TO LEVY ANNUAL ASSESSMENTS FOR THE 2025-26 FISCAL YEAR

FOR THE CITY OF GARDEN GROVE STREET LIGHTING DISTRICT AND ORDERING

THE CITY ENGINEER TO PREPARE AND FILE A REPORT IN ACCORDANCE WITH ARTICLE 4 OF CHAPTER 1 OF SAID ACT
THE CITY COUNCIL OF THE CITY OF GARDEN GROVE FINDS:

The City Council of the City of Garden Grove formed the City of Garden Grove Street Lighting District (formerly the Garden Grove City Landscaping and Lighting District [Resolution No. 6357-83] pursuant to the provisions of the Landscaping and Lighting Act of 1972, being Division 15, Part 2 (Sections 22500 et seq.) of the California Streets and Highways Code (herein “Act”).

The Act requires that proceedings for the levy of annual assessments after the formation of an Assessment District shall be initiated by resolution describing any proposed new improvements or any substantial changes in existing improvements, and ordering the City Engineer to prepare and file a report in accordance with Article 4 of Chapter 1 of the Act.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Garden Grove:

SECTION 1. The City Council of the City of Garden Grove hereby proposes the levy of an annual assessment for the City of Garden Grove Street Lighting District pursuant to the Landscaping and Lighting Act of 1972 for Fiscal Year 2025-

26. SECTION 2. The proposed improvements for Fiscal Year 2025-26 are generally described as the installation, maintenance, and servicing of public street lighting facilities including traffic signals, necessary for the proper maintenance and operation of streets and sidewalks throughout the city.

SECTION 3. The City Council hereby orders the City Engineer to prepare and file with the City Clerk a written report in accordance with Sections 22565 et seq. of the California Streets and Highways Code.
16 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

ORDERING THE CITY ENGINEER TO PREPARE AND FILE A REPORT IN ACCORDANCE WITH ARTICLE 4 OF CHAPTER 1 OF SAID ACT
The City Council of the City of Garden Grove formed the City of Garden Grove Street Lighting District No. 99-1 pursuant to the provisions of the Landscaping and Lighting Act of 1972, being Division 15, Part 2 (Sections 22500 et seq.) of the California Streets and Highways Code (herein “Act”) and Article XIIID of the California Constitution.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Garden Grove:

SECTION 1. The City Council of the City of Garden Grove proposes the levy of an annual assessment for the City of Garden Grove Street Lighting District No. 99-1 pursuant to the Landscaping and Lighting Act of 1972 for Fiscal Year 2025-26.

SECTION 2. The proposed improvements for Fiscal Year 2025-26 are generally described as the maintenance and servicing of public street lighting within the Assessment District.

FOR THE CITY OF GARDEN GROVE PARK MAINTENANCE DISTRICT AND ORDERING

THE CITY ENGINEER TO PREPARE AND FILE A REPORT IN ACCORDANCE WITH ARTICLE 4 OF CHAPTER 1 OF SAID ACT
The City Council of the City of Garden Grove formed the City of Garden Grove Park Maintenance District (Resolution No. 7981-97) pursuant to the provisions of the Landscaping and Lighting Act of 1972, being Division 15, Part 2 (Sections 22500 et seq.) of the California Streets and Highways Code (herein “Act”) and Article XIIID of the California Constitution.

The Act requires that proceedings for the levy of annual assessments after the formation of an Assessment District shall be initiated by Resolution describing any proposed new improvements or any substantial changes in existing improvements, and ordering the City Engineer to prepare and file a report in accordance with Article 4 of Chapter 1 of the Act.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Garden Grove:

SECTION 1. The City Council of the City of Garden Grove hereby proposes the levy of an annual assessment for the City of Garden Grove Park Maintenance District pursuant to the Landscaping and Lighting Act of 1972 for Fiscal Year 2025-

26. SECTION 2. The proposed improvements may be briefly described as the maintenance of public parks throughout the city.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE APPROVING THE CITY ENGINEER’S REPORT REGARDING THE LEVY OF AN ANNUAL

ASSESSMENT WITHIN THE CITY OF GARDEN GROVE STREET LIGHTING DISTRICT FOR FISCAL YEAR 2025-26

THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES,
DETERMINES, AND ORDERS:

SECTION 1. The City Council of the City of Garden Grove, pursuant to the Landscaping and Lighting Act of 1972, being Division 15, Part 2 (Sections 22500 et seq.) of the California Streets and Highways Code, did by previous resolutions order the City Engineer to prepare and file reports in accordance with Article 4 of Chapter 1 of the Act in connection with the proposed levy of an annual assessment for the City of Garden Grove Street Lighting District for Fiscal Year 2025-26.

SECTION 2. The City Engineer has prepared and filed with the City Clerk of the City of Garden Grove and the City Clerk has presented to the City Council such City Engineer’s report for the City of Garden Grove Street Lighting District for Fiscal Year 2025-26.

SECTION 3. The City Council has carefully examined and reviewed the City Engineer’s report, and the report is hereby approved as filed.

19 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE APPROVING THE CITY ENGINEER’S REPORT REGARDING THE LEVY OF AN ANNUAL

ASSESSMENT WITHIN THE CITY OF GARDEN GROVE STREET LIGHTING DISTRICT NO. 99-1 FOR FISCAL YEAR 20205-26

THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES,
DETERMINES, AND ORDERS:

SECTION 3. The City Council has carefully examined and reviewed the City Engineer’s report, and the report is hereby approved as filed. 20 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE APPROVING THE CITY ENGINEER’S REPORT REGARDING THE LEVY OF AN ANNUAL

ASSESSMENT WITHIN THE CITY OF GARDEN GROVE PARK MAINTENANCE DISTRICT FOR FISCAL YEAR 2025-26

THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES,
DETERMINES, AND ORDERS:

SECTION 3. The City Council has carefully examined and reviewed the City Engineer’s report, and the report is hereby approved as filed.

21 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (SECTIONS 22500 ET SEQ. OF THE CALIFORNIA STREETS AND HIGHWAYS CODE) DECLARING ITS

INTENTION TO LEVY AND COLLECT ASSESSMENTS WITHIN THE CITY OF GARDEN GROVE STREET LIGHTING DISTRICT FOR FISCAL YEAR 2025-26 AND SETTING A

TIME AND PLACE FOR A PUBLIC HEARING ON THE LEVY OF THE PROPOSED

ASSESSMENTS
The City Council of the City of Garden Grove adopted Resolution ____, initiating proceedings to levy annual assessments for Fiscal Year 2025-26 within the City of Garden Grove Street Lighting District describing the proposed improvements and ordering the City Engineer to prepare and file a report, pursuant to the provisions of the Landscaping and Lighting Act of 1972, i.e., Division 15, Part 2 (commencing with Section 22500) of the California Streets and Highways Code (herein “Act”).

The City Engineer has prepared the report, filed same with the City Clerk and presented same to the City Council, with the City Council examining and approving the report.

Under the Act, before levying and collecting assessments in the Assessment District, the City Council is required to adopt a Resolution declaring its intention to do so.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES, DETERMINES, AND ORDERS AS FOLLOWS:

SECTION 1. The City Council hereby finds and declares that the public interest and necessity require the installation, maintenance, and servicing of public lighting facilities in the streets of the city as hereinafter described, and the City Council hereby declares its intention to levy and collect assessments for Fiscal Year 2025-26 covering the real property benefited by the improvements, pursuant to the Act.

SECTION 2. The proposed improvements are generally described as follows:

The maintenance and operation of streets and sidewalks throughout the city, namely the installation, maintenance, and servicing of public street lighting facilities including traffic signals.

SECTION 3. The Assessment District is designated as the “City of Garden Grove Street Lighting District.” The boundaries of the District are generally coterminous with the boundaries of the city of Garden Grove, and generally include all parcels within the city.
22 Garden Grove City Council
Resolution No. _____

Page 2 ends

SECTION 4. Reference is hereby made to the City Engineer’s report, on file with the City Clerk, for a full and detailed description of the improvements, the boundaries of the Assessment District and any zones therein, and the proposed assessments upon assessable lots and parcels of land within the Assessment District.

SECTION 5. An assessment will be levied pursuant to the Act upon all property in the City of Garden Grove Street Lighting District for Fiscal Year 2025- 26, subject to assessment under the Act, as described in the City Engineer’s report.

No assessment shall be imposed upon a federal or state governmental agency or another local agency. The rates of the assessment to be levied for Fiscal Year 2025- 26 are not proposed to increase from the rate levied in Fiscal Year 2024-25.

SECTION 6. Notice is hereby given that May 27, 2025, at 6:30 p.m. (or as soon thereafter as the City Council may hear same), in the Community Meeting Center, 11300 Stanford Avenue, Garden Grove, California, is hereby fixed as the time and place for a Public Hearing on the question of the levy of the proposed assessments. Any interested person may file a written protest with the City Clerk, stating all grounds of objection. Protests by property owners must contain a description of the property in which each signer thereof is interested, sufficient to identify the same, and must be delivered to the City Clerk prior to the conclusion of the hearing. In addition, all interested persons shall be afforded the opportunity to hear and be heard at the Public Hearing. The City Council shall consider all oral statements and all written protests or communications made or filed by any interested person.

SECTION 7. The City Clerk shall cause this Resolution of Intention to be published once in a newspaper of general circulation in the city of Garden Grove, California, with the publication being not less than ten (10) days prior to the date herein fixed for the Public Hearing.
23 GARDEN GROVE CITY COUNCIL
RESOLUTION NO._______

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (SECTIONS 22500 ET SEQ. OF THE CALIFORNIA STREETS AND HIGHWAYS CODE) DECLARING ITS

INTENTION TO LEVY AND COLLECT ASSESSMENTS WITHIN THE CITY OF GARDEN GROVE STREET LIGHTING DISTRICT NO. 99-1 FOR FISCAL YEAR 2025-26 AND

SETTING A TIME AND PLACE FOR A PUBLIC HEARING ON THE LEVY OF THE

PROPOSED ASSESSMENTS
The City Council of the City of Garden Grove adopted Resolution No. __ , initiating proceedings to levy annual assessments for Fiscal Year 2025-26 within the City of Garden Grove Street Lighting District No. 99-1 describing the proposed improvements and ordering the City Engineer to prepare and file a report, pursuant to the provisions of the Landscaping and Lighting Act of 1972, i.e., Division 15, Part 2 (commencing with Section 22500) of the California Streets and Highways Code (herein “Act”).

The City Engineer has prepared the report, filed same with the City Clerk and presented same to the City Council, with the City Council examining and approving the report.

Under the Act, before levying and collecting assessments in the Assessment District, the City Council is required to adopt a Resolution declaring its intention to do so.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES, DETERMINES, AND ORDERS AS FOLLOWS:

SECTION 1. The City Council hereby finds and declares that the public interest and necessity require the maintenance and servicing of public lighting facilities as hereinafter described, and the City Council hereby declares its intention to levy and collect assessments for Fiscal Year 2025-26 covering the real property benefited by the improvements, pursuant to the Act.

SECTION 2. The proposed improvements for Fiscal Year 2025-26 are generally described as the maintenance and servicing of public street lighting within the Assessment District.

SECTION 3. The Assessment District is designated as the “City of Garden Grove Street Lighting District No. 99-1.” This District consists of the following areas: the first involving an area easterly of Dale Street between Lampson Avenue and Chapman Avenue and an area west of Fairview Street approximately 900 feet Garden Grove south of Trask Avenue, the second involving an area on Gail Lane north of Chapman Avenue.

SECTION 4. Reference is hereby made to the City Engineer’s report, on file with the City Clerk, for a full and detailed description of the improvements, the 24 Garden Grove City Council
Resolution No. ___

Page 2 ends

boundaries of the Assessment District and any zones therein, and the proposed assessments upon assessable lots and parcels of land within the Assessment District.

SECTION 5. An assessment will be levied pursuant to the Act upon all property in the City of Garden Grove Street Lighting District No. 99-1 for Fiscal Year 2025-26, subject to assessment under the Act, as described in the City Engineer’s report. Parcels within the District that are owned or used by any county, city, city and county, special district or any other local or regional governmental agency, the State of California, or the United States shall be assessed unless the City demonstrates by clear and convincing evidence that such lots or parcels receive no special benefit from the proposed improvements. The rates of the assessment to be levied for Fiscal Year 2025-26 are not proposed to increase from the rates levied in Fiscal Year 2024-25.

SECTION 6. Notice is hereby given that May 27, 2025, at 6:30 p.m. (or as soon thereafter as the City Council may hear same), in the Community Meeting Center, 11300 Stanford Avenue, Garden Grove, California, is hereby fixed as the time and place for a Public Hearing on the question of the levy of the proposed assessments. Any interested person may file a written protest with the City Clerk, stating all grounds of objection. Protests by property owners must contain a description of the property, in which each signer thereof is interested, sufficient to identify the same, and must be delivered to the City Clerk of the City prior to the conclusion of the Public Hearing. In addition, all interested persons shall be afforded the opportunity to hear and be heard at the Public Hearing. The City Council shall consider all oral statements and all written protests or communications made or filed by any interested person.

SECTION 7. The City Clerk shall cause this Resolution of Intention to be published once in a newspaper of general circulation in the City of Garden Grove, California, with the publication being not less than ten (10) days prior to the date herein fixed for the Public Hearing.
25 GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (SECTIONS 22500 ET SEQ. OF THE CALIFORNIA STREETS AND HIGHWAYS CODE) DECLARING ITS

INTENTION TO LEVY AND COLLECT ASSESSMENTS WITHIN THE CITY OF GARDEN GROVE PARK MAINTENANCE DISTRICT FOR FISCAL YEAR 2025-26 AND SETTING A

TIME AND PLACE FOR A PUBLIC HEARING ON THE LEVY OF THE PROPOSED

ASSESSMENTS
The City Council of the City of Garden Grove adopted Resolution No. _____, initiating proceedings to levy annual assessments for Fiscal Year 2025-26 within the City of Garden Grove Park Maintenance District, describing the proposed improvements and ordering the City Engineer to prepare and file a report pursuant to the provisions of the Landscaping and Lighting Act of 1972, i.e., Division 15, Part 2 (commencing with Section 22500) of the California Streets and Highways Code (herein “Act”).

The City Engineer has prepared the report, filed same with the City Clerk and presented same to the City Council with the City Council examining and approving the report.

Under the Act, before levying and collecting assessments in the Assessment District, the City Council is required to adopt a Resolution declaring its intention to do so.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDEN GROVE RESOLVES, DETERMINES, AND ORDERS AS FOLLOWS:

SECTION 1. The City Council hereby finds and declares that the public interest and necessity require the maintenance of public parks in the city, and the City Council hereby declares its intention to levy and collect assessments for Fiscal Year 2025-26 covering the real property specially benefited by the park maintenance, pursuant to the Act.

SECTION 2. The proposed improvements are generally described as the maintenance of public parks throughout the city.

SECTION 3. The Assessment District is designated as the “City of Garden Grove Park Maintenance District.” The boundaries of the District are coterminous with the boundaries of the city of Garden Grove, and generally include all parcels within the city.

Page 2 ends

assessments upon assessable lots and parcels of land within the Assessment District.

SECTION 5. An assessment will be levied pursuant to the Act upon all property in the City of Garden Grove Park Maintenance District for Fiscal Year 2025- 26, subject to assessment under the Act, as described in the City Engineer’s report.

Parcels within the District that are owned or used by any county, city, city and county, special district or any other local or regional governmental agency, the State of California, or the United States shall be assessed unless the City demonstrates by clear and convincing evidence that such lots or parcels receive no special benefit from the proposed improvements. The rates of the assessment to be levied for Fiscal Year 2025-26 are not proposed to increase from the rates levied in Fiscal Year 2024-25.

SECTION 6. Notice is hereby given that May 27, 2025, at 6:30 p.m. (or as soon thereafter as the City Council may hear same), in the Community Meeting Center, 11300 Stanford Avenue, Garden Grove, California, is hereby fixed as the time and place for a Public Hearing on the question of the levy of the proposed assessments. Any interested person may file a written protest with the City Clerk stating all grounds of objection. Protests by property owners must contain a description of the property, in which each signer thereof is interested, sufficient to identify the same, and must be delivered to the City Clerk of the City prior to the conclusion of the hearing. In addition, all interested persons shall be afforded the opportunity to hear and be heard at the hearing. The City Council shall consider all oral statements and all written protests or communications made or filed by any interested person.

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&ŽůůŽǁŝŶŐƚŚĞƉĂƐƐĂŐĞŽĨWƌŽƉŽƐŝƚŝŽŶϮϭϴŝŶϭϵϵϲǁŚŝĐŚĂĚĚĞĚƌ ƚŝĐůĞy///ƚŽƚŚĞ^ƚĂƚĞŽŶƐƚŝƚƵƚŝŽŶ͕ƚŚĞ ŝƚǇŚĂƐĐŽŶƚŝŶƵĞĚƚŽůĞǀǇĂƐƐĞƐƐŵĞŶƚƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚĂƚƚŚĞĐƵƌƌĞŶƚƌĂƚĞƐŝŶĐĞWƌŽƉŽƐŝƚŝŽŶϮϭϴĂůůŽǁĞĚ ĐĞƌƚĂŝŶĞǆĞŵƉƚŝŽŶƐĨŽƌĞǆŝƐƚŝŶŐĂƐƐĞƐƐŵĞŶƚƐĂƐƐĞƚĨŽƌƚŚŝŶƌƚŝĐůĞy///͕^ĞĐƚŝŽŶϱ;ĂͿ͘dŚĞŝƚǇŚĂƐƚŽŵĂŬĞ ĂĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞŝƐƚƌŝĐƚĂŶŶƵĂůůǇďĞĐĂƵƐĞƌĞǀĞŶƵĞƐĨƌŽŵƚ ŚĞĂƐƐĞƐƐŵĞŶƚĂƌĞůĞƐƐƚŚĂŶƚŚĞĐŽƐƚĨŽƌ ƚŚĞ ƐĞƌǀŝĐĞƐ ƉƌŽǀŝĚĞĚ ďǇ ƚŚĞ ŝƐƚƌŝĐƚ͘ &Žƌ &ŝƐĐĂů zĞĂƌ ϮϬϮϱͲϮϲ͕ ƚŚĞ ŝƚǇ ǁŝůů ďĞ ƌĞƋƵŝƌĞĚ ƚŽ ĐŽŶƚƌŝďƵƚĞ Ψϯϳϱ͕ϴϴϮƚŽďĂůĂŶĐĞƚŚĞďƵĚŐĞƚ͘ŶǇŝŶĐƌĞĂƐĞŝŶƚŚĞĂƐƐĞƐƐŵĞŶƚ͕ŝŶĐůƵĚŝŶŐƚŚĞĂĚĚŝƚŝŽŶŽĨĂW/ĞƐĐĂůĂƚŽƌ͕ ǁŝůůƌĞƋƵŝƌĞƚŚĂƚĂďĂůůŽƚďĞŵĂŝůĞĚƚŽĞĂĐŚƉƌŽƉĞƌƚǇŽǁŶĞƌƐƵďũĞĐƚƚŽƚŚĞĂƐƐĞƐƐŵĞŶƚ͕ĂŶĚƚŚĂƚĂŵĂũŽƌŝƚǇ ŽĨƉƌŽƉĞƌƚǇŽǁŶĞƌƐ;ǁĞŝŐŚƚĞĚďǇĂƐƐĞƐƐŵĞŶƚĂŵŽƵŶƚͿƌĞƚƵƌŶŝŶŐƚŚĞŝƌďĂůůŽƚŵƵƐƚĂƉƉƌŽǀĞŽĨƚŚĞŝŶĐƌĞĂƐĞ ŝŶƚŚĞĂƐƐĞƐƐŵĞŶƚ͘/ŶĂĚĚŝƚŝŽŶ͕ĂŶǇŽƚŚĞƌĐŚĂŶŐĞƐŶĞĞĚĞĚƚŽĐŽŵƉůǇǁŝƚŚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨWƌŽƉŽƐŝƚŝŽŶ ϮϭϴǁŽƵůĚŚĂǀĞƚŽďĞŵĂĚĞĂƚƚŚĂƚƚŝŵĞ͘
dŚĞ ƉƌŽƉŽƐĞĚ ůŝŐŚƚŝŶŐ ŵĂŝŶƚĞŶĂŶĐĞ ĂƐƐĞƐƐŵĞŶƚ ƌĞǀĞŶƵĞ ĨŽƌ &ŝƐĐĂů zĞĂƌ ϮϬϮϱͲϮϲ͕ ĂƐ ĚĞƐĐƌŝďĞĚ ŝŶ ƚŚŝƐ ZĞƉŽƌƚ͕ŝƐĂƉƉƌŽǆŝŵĂƚĞůǇΨϭ͕ϯϱϯ͕ϰϭϳ͘dŚĞƚǇƉŝĐĂůŚŽŵĞŽǁŶĞƌ͛ƐĂ ƐƐĞƐƐŵĞŶƚǁŝůůďĞΨϮϴ͘ϳϭ͕ǁŚŝĐŚŝƐƚŚĞ ƐĂŵĞĂƐƚŚĂƚĂƐƐĞƐƐĞĚĨŽƌůŝŐŚƚŝŶŐƉƌŝŽƌƚŽƚŚĞƉĂƐƐĂŐĞŽĨWƌŽƉ ŽƐŝƚŝŽŶϮϭϴĂŶĚůĂƐƚǇĞĂƌ͘dŚĞĞƐƚŝŵĂƚĞĚ ĨƵŶĚďĂůĂŶĐĞĂƚƚŚĞĞŶĚŽĨ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲŝƐĞǆƉĞĐƚĞĚƚŽďĞǌĞƌŽ͘

32 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

Ϯ

ƵƌƌĞŶƚ&ŝŶĂŶĐŝĂů^ƵŵŵĂƌǇ

ĚŽƉƚĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϰͲϮϱ
WƌŽƉŽƐĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϱͲϮϲ
Z
s
Eh

hŶĐŽŵŵŝƚƚĞĚ&ƵŶĚĂůĂŶĐĞ;ĂƐŽĨ:ƵůǇϭͿ ΨϬ ΨϬ

ƐƚŝŵĂƚĞĚƐƐĞƐƐŵĞŶƚZĞǀĞŶƵĞ Ψϭ͕ϯϱϳ͕ϯϰϱ Ψϭ͕ϯϱϯ͕ϰϭϳ
'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶ Ψϰϳϭ͕ϲϵϮ ΨϭϵϬ͕ϰϲϳ
^ƵďƚŽƚĂů
Ɛƚ͘ZĞǀĞŶƵĞ Ψϭ͕ϴϮϵ͕Ϭϯϳ Ψϭ͕ϱϰϯ͕ϴϴϰ

yW
E^
^

ƐƚŝŵĂƚĞĚKƉĞƌĂƚŝŶŐ
ǆƉĞŶƐĞƐ Ψϭ͕ϴϮϵ͕Ϭϯϳ Ψϭ͕ϱϰϯ͕ϴϴϰ
ĂƉŝƚĂů/ŵƉƌŽǀĞŵĞŶƚƐ ΨϬ ΨϬ
^ƵďƚŽƚĂů
Ɛƚ͘
ǆƉĞŶƐĞƐ Ψϭ͕ϴϮϵ͕Ϭϯϳ Ψϭ͕ϱϰϯ͕ϴϴϰ

ƐƚŝŵĂƚĞĚhŶĐŽŵŵŝƚƚĞĚ&ƵŶĚĂůĂŶĐĞ;ĂƐŽĨ:ƵŶĞϯϬͿ ΨϬ ΨϬ 33 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϯ

WZd//ʹW>E^E^W
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dŚĞ ĨĂĐŝůŝƚŝĞƐ͕ ǁŚŝĐŚ ŚĂǀĞ ďĞĞŶ ĐŽŶƐƚƌƵĐƚĞĚ ǁŝƚŚŝŶ ƚŚĞ ŝƚǇ ŽĨ'ĂƌĚĞŶ 'ƌŽǀĞ͕ ĂŶĚ ƚŚŽƐĞ ǁŚŝĐŚ ŵĂǇ ďĞ ƐƵďƐĞƋƵĞŶƚůǇĐŽŶƐƚƌƵĐƚĞĚ͕ǁŝůůďĞƐĞƌǀŝĐĞĚĂŶĚŵĂŝŶƚĂŝŶĞĚĂƐŐĞŶĞƌĂůůǇĚĞƐĐƌŝďĞĚĂƐĨŽůůŽǁƐ͗ ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐͲdŚĞƉůĂŶƐĨŽƌůŽĐĂůůŝŐŚƚŝŶŐŝŶĐůƵĚŝŶŐĂůůĞǇůŝŐŚƚŝŶŐ͕ĂŶĚĐĞƌƚĂŝŶĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐ͕ĐŽŶƐŝƐƚŽĨ ƚŚĞůĂŵƉůŽĐĂƚŝŽŶůŝƐƚ͕ƚŚĞŝĂŐƌĂŵ͕ĂŶĚƚŚĞŽƵŶƚǇƐƐĞƐƐŽƌ͛Ɛ DĂƉƐ͕ĂůůŽĨǁŚŝĐŚĂƌĞŽŶĨŝůĞŝŶƚŚĞŝƚǇ ůĞƌŬ͛ƐŽĨĨŝĐĞĂŶĚĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘ dŚĞŝĂŐƌĂŵƐŚŽǁƐƚŚĞĞǆŝƐƚŝŶŐŝƐƚƌŝĐƚďŽƵŶĚĂƌŝĞƐĂŶĚŝŶĐůƵĚĞƐĂůůŽĨƚŚĞĂƌĞĂƐŽĨƚŚĞŝƐƚƌŝĐƚǁŝƚŚĞǆŝƐƚŝŶŐ Ɛ ƚ ƌ Ğ Ğ ƚ ů ŝ Ő Ś ƚ Ɛ ͘ d Ś Ğ ů Ă ŵ Ɖ ů Ž Đ Ă ƚ ŝ Ž Ŷ ů ŝ Ɛ ƚ ŝ Ɛ Ă ƚ Ă ď Ƶ ů Ă ƚ Ğ Ě ů ŝ Ɛ ƚ ŝ Ŷ Ő ŽĨ ĞǀĞƌǇ ƐƚƌĞĞƚ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ďǇ ƐƚƌĞĞƚ ŝŶ ĂůƉŚĂďĞƚŝĐĂů ŽƌĚĞƌ͘ /ŶĐůƵĚĞĚ ŝŶ ƚŚĞ ŝƚĞŵƐ ůŝƐƚĞĚ ĨŽƌ ĞĂĐŚ ůĂŵƉ ŝƐ ƚŚĞ ĞǆĂĐƚ ůŽĐĂƚŝŽŶ ďǇ ƐƚƌĞĞƚ ĂĚĚƌĞƐƐ͕ ŶƵŵďĞƌĂŶĚůĂŵƉƐŝǌĞ͘>ĂŵƉƐĂƌĞŶŽƚƉůĂĐĞĚŝŶƐƉĞĐŝĨŝĐǌŽŶĞƐ͕ ƵŶůĞƐƐƚŚĞǇĐůĞĂƌůǇŽŶůǇďĞŶĞĨŝƚĐĞƌƚĂŝŶ ƉĂƌĐĞůƐ;Ğ͘Ő͕͘DĂŝŶ^ƚƌĞĞƚůŝŐŚƚƐ͕ǁŚŝĐŚĂƌĞĨƵŶĚĞĚƚŚƌŽƵŐŚƚŚĞŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚͿ͘ dŚĞŽƵŶƚǇƐƐĞƐƐŽƌ͛ƐDĂƉƐƐŚŽǁĞĂĐŚƉĂƌĐĞů͕ŝŶĐůƵĚŝŶŐŝƚƐƉĂƌĐ ĞůŶƵŵďĞƌĂŶĚƚŚĞĚŝŵĞŶƐŝŽŶŽĨĞĂĐŚ ƉĂƌĐĞůŝŶƚŚĞŝƐƚƌŝĐƚ͘WƌĞĐĞĚŝŶŐƚŚĞƐƐĞƐƐŽƌ͛ƐDĂƉƐŝƐĂŶŝŶĨŽƌŵĂƚŝŽŶƐŚĞĞƚ͕ǁŚŝĐŚŐŝǀĞƐŝŶƐƚƌƵĐƚŝŽŶƐĨŽƌ ĨŝŶĚŝŶŐĂŶŝŶĚŝǀŝĚƵĂůƉĂƌĐĞů͛ƐƐƚƌĞĞƚůŝŐŚƚŝŶŐĂƐƐĞƐƐŵĞŶƚƐĂŶĚ ĨŽƌĨŝŶĚŝŶŐůĂŵƉůŽĐĂƚŝŽŶƐ͘dŚĞƐĞŵĂƉƐĂƌĞ ĂǀĂŝůĂďůĞĨŽƌŝŶƐƉĞĐƚŝŽŶŝŶƚŚĞ
ŶŐŝŶĞĞƌŝŶŐ^ĞƌǀŝĐĞƐŝǀŝƐŝŽŶŽĨƚŚĞWƵďůŝĐtŽƌŬƐĞƉĂƌƚŵĞŶƚ͘ ^ƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌƐƚƌĞĞƚůŝŐŚƚŝŶŐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚĂƌĞŝŶĚŝ ĐĂƚĞĚǁŝƚŚŝŶĂƉƌĞǀŝŽƵƐůǇĞǆĞĐƵƚĞĚĐŽŶƚƌĂĐƚ ĚĂƚĞĚ:ƵůǇϮϮ͕ϭϵϱϴ͕ďǇĂŶĚďĞƚǁĞĞŶƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞĂŶ Ě^ŽƵƚŚĞƌŶĂůŝĨŽƌŶŝĂ ĚŝƐŽŶŽŵƉĂŶǇ͕
ĂĐŽƉǇŽĨǁŚŝĐŚŝƐĂƚƚĂĐŚĞĚďǇƌĞĨĞƌĞŶĐĞƚŽƚŚŝƐƌĞƉŽƌƚ͘ dƌĂĨĨŝĐ^ŝŐŶĂůƐĂŶĚ&ƌĞĞǁĂǇ >ŝŐŚƚŝŶŐͲDĂƉƐƐŚŽǁŝŶŐƚŚĞůŽĐĂƚŝŽŶŽĨƚƌĂĨĨŝĐƐŝŐŶĂůƐĂŶĚĨƌĞĞǁĂǇůŝŐ ŚƚŝŶŐ ǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ͕ĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐƐŚŽǁŝŶŐƚŚĞŐĞŶĞƌĂůŶĂƚƵƌĞ͕ůŽĐĂƚŝŽŶĂŶĚĞǆƚĞŶƚŽĨƉƌŽƉŽƐĞĚĐĂƉŝƚĂů ŝŵƉƌŽǀĞŵĞŶƚƐ͕ĂƌĞŽŶĨŝůĞŝŶƚŚĞŽĨĨŝĐĞŽĨƚŚĞŝƚǇůĞƌŬĂŶĚŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘

34 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϰ

WZd///ʹK^d
^d/Dd

dŚĞ ŝƚǇΖƐ ďƵĚŐĞƚ ĨŽƌ ƚŚĞ ŝŶƐƚĂůůĂƚŝŽŶ͕ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ůŝŐŚƚŝŶŐ ĚĞƚĂŝůƐ ƚŚĞ ĞƐƚŝŵĂƚĞĚĐŽƐƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲĂƐĂǀĂŝůĂďůĞĂƚƚŚĞƚŝŵĞŽĨƉƌĞƉĂƌĂƚŝŽŶŽĨƚŚŝƐƌĞƉŽƌƚ͕ĂŶĚŝŶĐůƵĚĞƐ ĞŶŐŝŶĞĞƌŝŶŐĨĞĞƐ͕ůĞŐĂůĨĞĞƐ͕ƉƌŝŶƚŝŶŐ͕ŵĂŝůŝŶŐ͕ƉŽƐƚĂŐĞ͕ƉƵďůŝ ƐŚŝŶŐ͕ĂŶĚĂůůŽƚŚĞƌƌĞůĂƚĞĚĐŽƐƚƐŝĚĞŶƚŝĨŝĞĚ ǁŝƚŚƚŚĞŝƐƚƌŝĐƚƉƌŽĐĞĞĚŝŶŐƐ͘

EŽƚĞ͗ŵŽƵŶƚƐĂďŽǀĞĂƌĞƌŽƵŶĚĞĚƚŽǁŚŽůĞŶƵŵďĞƌƐĂŶĚŵĂǇďĞŽĨĨƐůŝŐŚƚůǇĚƵĞƚŽƌŽƵŶĚŝŶŐ͘

ƐƚŝŵĂƚĞĚ
ŽƐƚƐ
ůůŽĐĂƚĞĚ

ŶŐŝŶĞĞƌŝŶŐΘ
/ŶĐŝĚĞŶƚĂůƐ
ŽŶƚƌŝďƵƚŝŽŶƐ
ĨƌŽŵKƚŚĞƌ
&ƵŶĚƐ
dŽƚĂůƚŽ
ƐƐĞƐƐŵĞŶƚ
>ŽĐĂů>ŝŐŚƚŝŶŐŽƐƚ
;ĨƌŽŵ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŽƐƚdĂďůĞͿ ΨϴϬϯ͕ϯϬϭ
dŽƚĂů>ŽĐĂů>ŝŐŚƚŝŶŐŽƐƚ ΨϴϬϯ͕ϯϬϭ Ψϭϳϵ͕ϭϬϮ ;ΨϮϰϮ͕ϵϰϵͿ Ψϳϯϵ͕ϰϱϱ ůůĞǇ>ŝŐŚƚŝŶŐŽƐƚƐ
;ĨƌŽŵ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŽƐƚdĂďůĞͿ Ψϭ͕ϴϵϴ͘ϴϴ
dŽƚĂůůůĞǇ>ŝŐŚƚŝŶŐŽƐƚ Ψϭ͕ϴϵϵ ΨϰϮϯ ;ΨϴϯϴͿ Ψϭ͕ϰϴϰ
ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐŽƐƚƚŽůůƐƐĞƐƐĂďůĞWƌŽƉĞƌƚŝĞƐ͗
ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐŽƐƚ ΨϮϬϵ͕ϭϬϭ
^ŝŐŶĂůDĂŝŶƚĞŶĂŶĐĞ ΨϮϰϯ͕ϭϭϳ
&ƌĞĞǁĂǇhŶĚĞƌƉĂƐƐ>ŝŐŚƚŝŶŐ;>^ϯ^ĐŚĞĚ͘ŝŶĐů͘ŝŶƌƚĞƌŝĂů>ŝŐŚƚƐĂďŽǀĞͿ Ψϱ͕ϬϬϬ dŽƚĂůƌƚĞƌŝĂů>ŝŐŚƚŝŶŐŽƐƚ Ψϰϱϳ͕Ϯϭϴ ΨϭϬϭ͕ϵϰϬ Ψϱϯ͕ϯϮϬ ΨϲϭϮ͕ϰϳϴ dŽƚĂů>ŝŐŚƚŝŶŐŽƐƚƐ Ψϭ͕ϮϲϮ͕ϰϭϴ ΨϮϴϭ͕ϰϲϲ ;ΨϭϵϬ͕ϰϲϳͿ Ψϭ͕ϯϱϯ͕ϰϭϳ

ŶŐŝŶĞĞƌŝŶŐĂŶĚ/ŶĐŝĚĞŶƚĂůƐ
ϮϭϴϭϬϮϭϬϬϬ DĂŶĂŐĞŵĞŶƚͲZĞŐƵůĂƌ^ĂůĂƌŝĞƐ ΨϮϵ͕ϴϵϴ
ϮϭϴϱϭϬϭϬϬϬ WƵďůŝĐtŽƌŬƐ'ĞŶĞƌĂůĚŵ ŝŶŝƐƚƌĂƚŝŽŶZĞŐƵůĂƌ^ĂůĂƌŝĞƐ Ψ ϲϮ͕Ϭϳϯ ϮϭϴϱϮϰϭϰϲϱ ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐZĞŐƵůĂƌ^ĂůĂƌŝĞƐ Ψϭϱϳ͕Ϭϵϱ
ϮϭϴϱϮϰϭϰϲϱ KǀĞƌƚŝŵĞ Ψϭ͕ϴϬϬ
ϮϭϴϱϮϰϭϰϲϱ ŽŵŵŽĚŝƚŝĞƐ ΨϮ͕ϱϬϬ
ϮϭϴϱϮϰϭϰϲϱ /ŶƐƵƌĂŶĐĞͬ>ŝĂďŝůŝƚǇ ΨϬ
ϮϭϴϱϮϰϭϰϲϱ &ĂĐŝůŝƚŝĞƐDĂŝŶƚ͕͘&ŝŶĂŶ ĐĞDŐŵƚ͕͘KƉĞƌĂƚŝŽŶĂůĂŶĚ'ĞŶĞƌĂů ΨϬ ĚŵŝŶ^ƵƉƉŽƌƚ
ϮϭϴϱϮϰϭϰϲϱ ŽŶƚƌĂĐƚƵĂů^ĞƌǀŝĐĞƐ ΨϮϴ͕ϭϬϬ
dŽƚĂů
ŶŐŝŶĞĞƌŝŶŐĂŶĚ/ŶĐŝĚĞŶƚĂůƐ ΨϮϴϭ͕ϰϲϲ
^ƚĂƌƚŝŶŐ&ƵŶĚĂůĂŶĐĞ;&ƵŶĚĂůĂŶĐĞĂƐŽĨ:ƵůǇϭ͕ϮϬϮϱͿ ΨϬ 'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶƚŽďĂůĂŶĐĞďƵĚŐĞƚ ;ΨϭϵϬ͕ϰϲϳͿ
dŽƚĂůŽŶƚƌŝďƵƚŝŽŶƐĨƌŽŵKƚŚĞƌ&ƵŶĚƐ ;ΨϭϵϬ͕ϰϲϳͿ

ƐƚŝŵĂƚĞĚZĞƐĞƌǀĞ;&ƵŶĚĂůĂŶĐĞĂƐŽĨ:ƵŶĞϯϬ͕ϮϬϮϲͿ ΨϬ
dŽƚĂů
ƐƚŝŵĂƚĞĚϮϬϮϱͲϮϲƐƐĞƐƐŵĞŶƚ Ψϭ͕ϯϱϯ͕ϰϭϳ
35 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϱ

dŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐ ƚŚĂƚĂƐƉĞĐŝ ĂůĨƵŶĚďĞƐĞƚͲƵƉĨŽƌƚŚĞƌĞǀ ĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚ͘ &ƵŶĚƐƌĂŝƐĞĚďǇĂƐƐĞƐƐŵĞŶƚƐŚĂůůďĞƵƐĞĚŽŶůǇĨŽƌƚŚĞƉƵƌƉŽƐĞĂ ƐƐƚĂƚĞĚŚĞƌĞŝŶ͘ ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞ ŝƐƚƌŝĐƚ ďǇ ƚŚĞ ŝƚǇ ŵĂǇ ďĞ ŵĂĚĞ ƚŽ ƌĞĚƵĐĞ ĂƐƐĞƐƐŵĞŶƚƐ͕ ĂƐ ƚŚĞ ŝ ƚ Ǉ Ž Ƶ Ŷ Đ ŝ ů Ě Ğ Ğ ŵ Ɛ Ă Ɖ Ɖ ƌ Ž Ɖ ƌ ŝ Ă ƚ Ğ ͘ Ŷ Ǉ ďĂůĂŶĐĞŽƌĚĞĨŝĐŝƚƌĞŵĂŝŶŝŶŐŽŶ:ƵůǇϭŵƵƐƚďĞĐĂƌƌŝĞĚŽǀĞƌƚŽƚŚĞŶĞǆƚĨŝƐĐĂůǇĞĂƌ͘ dŚĞĚĞƚĂŝůŽĨƚŚĞĞƐƚŝŵĂƚĞĚĐŽƐƚŽĨŽƉĞƌĂƚŝŶŐ͕ŵĂŝŶƚĂŝŶŝŶŐĂŶĚ ƐĞƌǀŝĐŝŶŐůŽĐĂůĂŶĚĂƌƚĞƌŝĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐ ŝŶĐůƵĚŝŶŐĂůůĞǇƐĂŶĚƐĂĨĞƚǇůŝŐŚƚƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲŝƐƐĞƚĨŽƌƚŚďĞůŽǁ͗
ϭ dŚĞ ĐŽƐƚƐ ĂďŽǀĞ ƌĞƉƌĞƐĞŶƚ ƚŚĞ ĐŽŶǀĞƌƐŝŽŶ ŽĨ ƚŚĞ ĚŝƐŽŶͲŽǁŶĞĚ ĂŶĚ ŝƚǇͲŽǁŶĞĚ ƐƚƌĞĞƚ ůŝŐŚƚƐ ƚŽ ůŝŐŚƚ ĞŵŝƚƚŝŶŐĚŝŽĚĞ;>
Ϳ͘dŚĞŶĞǁ>
ƌĂƚĞĐŚĂŶŐĞƐĂƌĞƌĞĨůĞĐƚĞĚŝŶĐƵƌƌĞŶƚďƵĚŐĞƚĞĚĞƐƚŝŵĂƚĞĚĐŽƐƚƐ͘
^dZ

d>/',d/E'Ͳ
/^KEKtE

>ŽĐĂů>ŝŐŚƚŝŶŐ͗
tĂƩƐ >ĂŵƉ^ŝǌĞ EƵŵďĞƌ ŽƐƚ
ϮϮ ϯ͕ϬϬϬ> ϲ ΛΨ ϭϭ͘ϮϬ ǆ ϭϮ ŵŽƐ͘ ϴϬϲ͘ϰϬ Ψ ϯϭ ϰ͕ϬϬϬ> ϰ͕Ϯϱϲ Λ ϭϭ͘Ϯϲ ǆ ϭϮ ŵŽƐ͘ ϱϳϱ͕ϬϳϬ͘ϳϮ
ϯϵ ϱ͕ϬϬϬ> ϭ͕ϲϲϭ Λ ϭϭ͘ϰϭ ǆ ϭϮ ŵŽƐ͘ ϮϮϳ͕ϰϮϰ͘ϭϮ
ϱ͕ϵϮϯ ϴϬϯ͕ϯϬϭ͘Ϯϰ Ψ ϴϬϯ͕ϯϬϭ͘Ϯϰ Ψ
ůůĞǇ>ŝŐŚƚŝŶŐ͗
tĂƩƐ >ĂŵƉ^ŝǌĞ EƵŵďĞƌ ŽƐƚ
ϯϭ ϰ͕ϬϬϬ> ϭϬ Λ ϭϭ͘Ϯϲ ǆ ϭϮ ŵŽƐ͘ ϭ͕ϯϱϭ͘ϮϬ Ψ
ϯϵ ϱ͕ϬϬϬ> ϰ Λ ϭϭ͘ϰϭ ǆ ϭϮ ŵŽƐ͘ ϱϰϳ͘ϲϴ
ϭϰ ϭ͕ϴϵϴ͘ϴϴ Ψ ϭ͕ϴϵϴ͘ϴϴ Ψ
ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ͗
tĂƩƐ >ĂŵƉ^ŝǌĞ EƵŵďĞƌ ŽƐƚ
ϳϭ ϴ͕ϱϬϬ> ϭϵ Λ ϭϯ͘ϭϲ ǆ ϭϮ ŵŽƐ͘ ϯ͕ϬϬϬ͘ϰϴ Ψ
ϴϮ ϭϬ͕ϬϬϬ> ϭ͕ϭϰϲ Λ ϭϯ͘ϴϰ ǆ ϭϮ ŵŽƐ͘ ϭϵϬ͕ϯϮϳ͘ϲϴ
ϭϯϲ ϭϱ͕ϬϬϬ> ϰϴ Λ ϭϰ͘ϰϵ ǆ ϭϮ ŵŽƐ͘ ϴ͕ϯϰϲ͘Ϯϰ
ϭ͕Ϯϭϯ ϮϬϭ͕ϲϳϰ͘ϰϬ Ψ ϮϬϭ͕ϲϳϰ͘ϰϬ Ψ
^dZ

d>/',d/E'Ͳ/dzKtE
;ƌƚĞƌŝĂůͿ
tĂƩƐ >ĂŵƉ^ŝǌĞ EƵŵďĞƌ ŽƐƚ
ϯϵ ϵ͕ϱϬϬ> ϲ Λ Ϭ͘ϵϳ ǆ ϭϮ ŵŽƐ͘ ϲϵ͘ϴϰ Ψ
ϳϭ ϭϲ͕ϬϬϬ> ϱϮ Λ Ϭ͘ϵϳ ǆ ϭϮ ŵŽƐ͘ ϲϬϱ͘Ϯϴ
ϭϯϴ Ϯϳ͕ϱϬϬ> ϱϴϬ Λ Ϭ͘ϵϳ ǆ ϭϮ ŵŽƐ͘ ϲ͕ϳϱϭ͘ϮϬ
ϲϯϴ ϳ͕ϰϮϲ͘ϯϮ Ψ ϳ͕ϰϮϲ͘ϯϮ Ψ
dKd> ϭ͕Ϭϭϰ͕ϯϬϬ͘ϴϰΨ ϭ
36 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϲ

WZd/sͲD
d,KK&WWKZd/KED
Ed
'ĞŶĞƌĂů
WĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱŽĨƚŚĞ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ͕ƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͕ƉĞƌŵŝƚƐ ƚŚĞ ĞƐƚĂďůŝƐŚŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚ ĚŝƐƚƌŝĐƚƐ ďǇ ĐŝƚŝĞƐ ĨŽƌ ƚŚĞ ƉƵƌ ƉŽƐĞ ŽĨ ƉƌŽǀŝĚŝŶŐ ĐĞƌƚĂŝŶ ƉƵďůŝĐ ŝŵƉƌŽǀĞŵĞŶƚƐǁŚŝĐŚŝŶĐůƵĚĞƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƐƚƌ ĞĞƚůŝŐŚƚƐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ůĂŶĚƐĐĂƉŝŶŐ ĂŶĚƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘
^ĞĐƚŝŽŶϮϮϱϳϯ͕ŽĨƚŚĞĐƚƌĞƋƵŝƌĞ ƐƚŚĂƚŵĂŝŶƚĞŶĂŶĐĞĂƐƐĞƐƐŵĞŶƚƐ ďĞůĞǀŝĞĚĂĐĐŽƌĚŝŶŐƚŽďĞŶĞĨŝƚƌĂƚŚĞƌ ƚŚĂŶĂĐĐŽƌĚŝŶŐƚŽĂƐƐĞƐƐĞĚǀĂůƵĞ͘dŚŝƐ^ĞĐƚŝŽŶƐƚĂƚĞƐ͗ ΗdŚĞ ŶĞƚ ĂŵŽƵŶƚ ƚŽ ďĞ ĂƐƐĞƐƐĞĚ ƵƉŽŶ ůĂŶĚƐ ǁŝƚŚŝŶ ĂŶ ĂƐƐĞƐƐŵĞŶƚ ĚŝƐƚƌŝĐƚ ŵĂǇ ďĞ ĂƉƉŽƌƚŝŽŶĞĚďǇĂŶǇĨŽƌŵƵůĂŽƌŵĞƚŚŽĚǁŚŝĐŚĨĂŝƌůǇĚŝƐƚƌŝďƵƚĞƐƚŚĞŶĞƚĂŵŽƵŶƚĂŵŽŶŐĂůů ĂƐƐĞƐƐĂďůĞůŽƚƐŽƌƉĂƌĐĞůƐŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨ ŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇĞĂĐŚ ƐƵĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘͟
dŚĞĐƚƉĞƌŵŝƚƐƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨǌŽŶĞƐŽĨďĞŶĞĨŝƚǁŝƚŚŝŶĂŶǇŝŶĚŝǀŝĚƵĂůĂƐƐĞƐƐŵĞŶƚĚŝƐƚƌŝĐƚŝĨΗďǇƌĞĂƐŽŶ Ž Ĩ ǀ Ă ƌ ŝ Ă ƚ ŝ Ž Ŷ Ɛ ŝ Ŷ ƚ Ś Ğ Ŷ Ă ƚ Ƶ ƌ Ğ ͕ ů Ž Đ Ă ƚ ŝ Ž Ŷ ͕ Ă Ŷ Ě Ğ ǆ ƚ Ğ Ŷ ƚ Ž Ĩ ƚ Ś Ğ ŝ ŵ Ɖ ƌ Ž ǀĞŵĞŶƚƐ͕ ƚŚĞ ǀĂƌŝŽƵƐ ĂƌĞĂƐ ǁŝůů ƌĞĐĞŝǀĞ ĚŝĨĨĞƌĞŶƚĚĞŐƌĞĞƐŽĨďĞŶĞĨŝƚĨƌ ŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘Η;^ĞĐ͘ϮϮϱϳ ϰͿ͘dŚƵƐ͕ƚŚĞĐƚƌĞƋƵŝƌĞƐƚŚĞůĞǀǇŽĨĂ ƚƌƵĞΗĂƐƐĞƐƐŵĞŶƚΗƌĂƚŚĞƌƚŚĂŶĂΗƐƉĞĐŝĂůƚĂǆ͘Η

ǆĞŵƉƚŝŽŶĨƌŽŵƌƚŝĐůĞƐy//ĂŶĚy//
ƐĂƌĞƐƵůƚŽĨƚŚĞƉĂƐƐĂŐĞŽĨWƌŽƉŽƐŝƚŝŽŶϮϭϴďǇsŽƚĞƌƐŽŶEŽǀĞŵďĞƌϱ͕ϭϵϵϲ͕ƌƚŝĐůĞƐy///ĂŶĚy///ǁĞƌĞ ĂĚĚĞĚƚŽƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶ͘dŚĞŶĞǁƉƌŽĐĞĚƵƌĂůĂŶĚĂƉƉƌŽǀĂůƉƌŽĐĞƐƐŽƵƚůŝŶĞĚŝŶƚŚĞƐĞĂƌƚŝĐůĞƐ Ă Ɖ Ɖ ů Ǉ ƚ Ž ƚ Ś Ž Ɛ Ğ Ě ŝ Ɛ ƚ ƌ ŝ Đ ƚ Ɛ ƚ Ś Ă ƚ Ě Ž Ŷ Ž ƚ Ƌ Ƶ Ă ů ŝ Ĩ Ǉ Ĩ Ž ƌ Ă Ŷ Ğ ǆ Ğ ŵ Ɖ ƚ ŝ Ž Ŷ ĂƐ Ɖ ƌ Ž ǀ ŝ Ě Ğ Ě ƚ Ś Ğ ƌ Ğ ŝ Ŷ ͘ d Ś Ğ ƌ Ğ Ă ƌ Ğ Ɛ Ğ ǀ Ğ ƌ Ă ů ĞǆĞŵƉƚŝŽŶƐƉƌŽǀŝĚĞĚ͕ŝŶĐůƵĚŝŶŐ͗ϭͿĂĚŝƐƚƌŝĐƚƚŚĂƚƌĞĐĞŝǀĞĚƉƌ ŝŽƌǀŽƚĞƌĂƉƉƌŽǀĂů͕ϮͿĂĚŝƐƚƌŝĐƚŽƌŝŐŝŶĂƚĞĚ ǁŝƚŚĂƉĞƚŝƚŝŽŶƐŝŐŶĞĚďǇϭϬϬƉĞƌĐĞŶƚŽĨƚŚĞƉƌŽƉĞƌƚǇŽǁŶĞƌƐŝŶƚŚĞĚŝƐƚƌŝĐƚ͕ŽƌϯͿĂĚŝƐƚƌŝĐƚĐŽŵƉůǇŝŶŐǁŝƚŚ ƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐƐĞƚĨŽƌƚŚŝŶ^ĞĐƚŝŽŶϱ;ĂͿŽĨƌƚŝĐůĞy///ƚŚĂƚƐƚĂƚĞƐ͗ ͙͞ĂƐƐĞƐƐŵĞŶƚƐ ĞǆŝƐƚŝŶŐ ŽŶ ƚŚĞ ĞĨĨĞĐƚŝǀĞ ĚĂƚĞ ŽĨ ƚŚŝƐ ƌƚŝĐůĞ ƐŚĂůů ďĞ ĞǆĞŵƉƚ ĨƌŽŵ ƚŚĞ ƉƌŽĐĞĚƵƌĞƐĂŶĚĂƉƉƌŽǀĂůƉƌŽĐĞƐƐƐĞƚĨŽƌƚŚŝŶ^ĞĐƚŝŽŶϰ΀ŝĨƚŚĞǇǁĞƌĞ΁ŝŵƉŽƐĞĚĞǆĐůƵƐŝǀĞůǇ ƚŽĨŝŶĂŶĐĞƚŚĞĐĂƉŝƚĂůĐŽƐƚƐŽƌŵĂŝŶƚĞŶĂŶĐĞĂŶĚŽƉĞƌĂƚŝŽŶĞǆƉĞŶƐĞƐĨŽƌƐŝĚĞǁĂůŬƐ͕ƐƚƌĞĞƚƐ͕ ƐĞǁĞƌƐ͕ǁĂƚĞƌ͕ĨůŽŽĚĐŽŶƚƌŽů͕ĚƌĂŝŶĂŐĞƐǇƐƚĞŵƐŽƌǀĞĐƚŽƌĐŽŶƚƌŽů͘͟ dŚĞƐƚƌĞĞƚůŝŐŚƚŝŶŐĂƐƐĞƐƐŵĞŶƚĞǆŝƐƚĞĚŝŶ&ŝƐĐĂůzĞĂƌϭϵϵϲͲϵϳĂŶĚĨƵŶĚĞĚŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚĂƌĞĐůĂƐƐŝĨŝĞĚ ĂƐƐƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚƐ͘^ƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚĂƐĚĞĨŝŶĞĚŚĞƌĞŝŶŝ ƐďĂƐĞĚŽŶƚŚĞĚĞĨŝŶŝƚŝŽŶƐƉƌŽǀŝĚĞĚďǇ ƚŚĞKĨĨŝĐĞŽĨƚŚĞŽŶƚƌŽůůĞƌĨŽƌƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂŝŶƚŚĞ 'ƵŝĚĞůŝŶĞƐZĞůĂƚŝŶŐƚŽ'ĂƐdĂǆ ǆƉĞŶĚŝƚƵƌĞƐ
ƉƵďůŝƐŚĞĚďǇƚŚĞŝǀŝƐŝŽŶŽĨ>ŽĐĂů'ŽǀĞƌŶŵĞŶƚ&ŝƐĐĂůĨĨĂŝƌƐ͘dŚĞƐƚĂƚĞ͛ƐŐĂƐƚĂǆƉƌŽŐƌĂŵŝƐĂĚŵŝŶŝƐƚĞƌĞĚ ŝŶ ĐŝƚǇ ĂŐĞŶĐŝĞƐ͕ ďƵƚ ĂƵĚŝƚĞĚ ďǇƚŚĞ KĨĨŝĐĞ ŽĨ ƚŚĞ ^ƚĂƚĞ ŽŶƚƌŽůůĞƌ͘ dŚĞ ƉƌŽĐĞĞĚƐ ŽĨ ƚŚĞ ŐĂƐ ƚĂǆ ĂƌĞ 37 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϳ

ƐƚĂƚƵƚŽƌŝůǇůŝŵŝƚĞĚƚŽĞǆƉĞŶĚŝƚƵ ƌĞƐĨŽƌƐƚƌĞĞƚƐ ĂŶĚƌŽĂĚƐ͘ĞĐ ĂƵƐĞƚŚĞĨƵŶĚƐĂƌĞƌĞƐƚƌŝĐƚĞĚƚŽƐƚƌĞĞƚĂŶĚ ƌŽĂĚĐŽƐƚƐ͕ƚŚĞ^ƚĂƚĞŽŶƚƌŽůůĞƌŚĂƐĚĞǀĞůŽƉĞĚ͞^ƚƌĞĞƚWƵƌƉŽƐĞ ĞĨŝŶŝƚŝŽŶƐĂŶĚ'ƵŝĚĞůŝŶĞƐ͟ďĂƐĞĚŽŶƚŚĞ DĂŶƵĂů ŽĨ hŶŝĨŽƌŵ ,ŝŐŚǁĂǇ ĐĐŽƵŶƚŝŶŐ ĂŶĚ &ŝŶĂŶĐŝĂů DĂŶĂŐĞŵĞŶƚ W ƌŽĐĞĚƵƌĞƐ ĚĞǀĞůŽƉĞĚ ďǇ ƚŚĞ ŵ Ğ ƌ ŝ Đ Ă Ŷ Ɛ Ɛ Ž Đ ŝ Ă ƚ ŝ Ž Ŷ Ž Ĩ ^ ƚ Ă ƚ Ğ , ŝ Ő Ś ǁ Ă Ǉ K Ĩ Ĩ ŝ Đ ŝ Ă ů Ɛ ͘ ^ ƚ ƌ Ğ Ğ ƚ ŝ ŵ Ɖ ƌ Ž ǀĞŵĞŶƚ͕ ĂƐ ŝƚ ƌĞůĂƚĞƐ ƚŽ ƚŚŝƐ ŝƐƚƌŝĐƚ͕ ŝƐ ĚĞĨŝŶĞĚĂƐƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶ͕ŽƉĞƌĂƚŝŽŶ͕ŽƌŵĂŝŶƚĞŶĂŶĐĞŽĨĨĂĐŝůŝƚŝĞƐǁŝƚŚŝŶƚŚĞƌŝŐŚƚͲŽĨͲǁĂǇƵƐĞĚĨŽƌƐƚƌĞĞƚ ŽƌƌŽĂĚƉƵƌƉŽƐĞƐŝŶĐůƵĚŝŶŐďƵƚŶŽƚůŝŵŝƚĞĚƚŽƚŚĞĨŽůůŽǁŝŶŐ͗ /ŶƐƚĂůůĂƚŝŽŶŽƌĞǆƉĂŶƐŝŽŶŽĨƚŚĞƐƚƌĞĞƚůŝŐŚƚŝŶŐƐǇƐƚĞŵŝŶĐůƵĚŝ ŶŐƌĞƉůĂĐĞŵĞŶƚŽĨŽůĚĞƋƵŝƉŵĞŶƚǁŝƚŚ ƐƵƉĞƌŝŽƌĞƋƵŝƉŵĞŶƚ͕ŝŶƐƚĂůůĂƚŝŽŶŽĨƚƌĂĨĨŝĐƐŝŐŶĂůƐĂƚŝŶƚĞƌƐĞĐƚŝŽŶƐĂŶĚƌĂŝůƌŽĂĚĐƌŽƐƐŝŶŐƐ͕ƌĞƉůĂĐĞŵĞŶƚ ŽĨĞƋƵŝƉŵĞŶƚĂƐƌĞƋƵŝƌĞĚĨŽƌƌĞůŽĐĂƚŝŽŶƐĨŽƌƐƚƌĞĞƚƉƵƌƉŽƐĞƐ͕Ă ŶĚƉƵƌĐŚĂƐĞĂŶĚŝŶƐƚĂůůĂƚŝŽŶŽĨƚƌĂĨĨŝĐ ƐŝŐŶĂůĐŽŶƚƌŽůĞƋƵŝƉŵĞŶƚ͘
^ĞƌǀŝĐŝŶŐůŝŐŚƚŝŶŐƐǇƐƚĞŵƐĂŶĚƐƚƌĞĞƚŽƌƌŽĂĚƚƌĂĨĨŝĐĐŽŶƚƌŽůĚĞǀŝĐĞƐŝŶĐůƵĚŝŶŐƌĞƉĂŝŶƚŝŶŐĂŶĚƌĞƉĂŝƌŝŶŐ ƚƌĂĨĨŝĐƐŝŐŶĂůƐĂŶĚůŝŐŚƚŝŶŐƐƚĂŶĚĂƌĚƐ͖ĂŶĚĨƵƌŶŝƐŚŝŶŐŽĨƉŽǁĞƌ ĨŽƌƐƚƌĞĞƚĂŶĚƌŽĂĚůŝŐŚƚŝŶŐĂŶĚƚƌĂĨĨŝĐ ĐŽŶƚƌŽůĚĞǀŝĐĞƐ͘
dŚĞƌĞĨŽƌĞ͕ƚŚĞĂƐƐĞƐƐŵĞŶƚƐůĞǀŝĞĚĨŽƌƐƚƌĞĞƚŝŵƉƌŽǀĞŵĞŶƚƐĂƐĚĞĨŝŶĞĚĂďŽǀĞĂƌĞĞǆĞŵƉƚĨƌŽŵƚŚĞƌƚŝĐůĞ y///ƉƌŽĐĞĚƵƌĂůĂŶĚĂƉƉƌŽǀĂůƉƌŽĐĞƐƐ͘
^ƉĞĐŝĂůĞŶĞĨŝƚŶĂůǇƐŝƐ
>ŽĐĂů>ŝŐŚƚŝŶŐͲdŚĞŝŶƐƚĂůůĂƚŝŽŶ͕ŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨůŝŐŚƚŝŶŐĂůŽŶŐƐƚƌĞĞƚƐĂŶĚĂůůĞǇƐ ŝŶĐůŽƐĞƉƌŽǆŝŵŝƚǇƚŽĐĞƌƚĂŝŶůŽƚƐŽƌƉĂƌĐĞůƐƉƌŽǀŝĚĞƐĂƐƉĞĐŝĂ ůďĞŶĞĨŝƚƚŽƐƵĐŚůŽƚƐŽƌƉĂƌĐĞůƐ͕ďǇƉƌŽǀŝĚŝŶŐ ŝůůƵŵŝŶĂƚŝŽŶƌĞƐƵůƚŝŶŐŝŶ͗ϭͿŝŵƉƌŽǀĞĚƐĞĐƵƌŝƚǇŽĨƐƵĐŚůŽƚƐŽƌƉĂƌĐĞůƐ͕ϮͿŝŵƉƌŽǀĞĚŝŶŐƌĞƐƐĂŶĚĞŐƌĞƐƐĨƌŽŵ ƐƵĐŚůŽƚƐŽƌƉĂƌĐĞůƐďǇŝůůƵŵŝŶĂƚŝŶŐĂĐĐĞƐƐĂĨƚĞƌƐƵŶƐĞƚ͕ĂŶĚϯ ͿŝŵƉƌŽǀĞĚŶŝŐŚƚƚŝŵĞǀŝƐŝďŝůŝƚǇĨŽƌƚŚĞůŽĐĂů ĂĐĐĞƐƐŽĨĞŵĞƌŐĞŶĐǇǀĞŚŝĐůĞƐ͘/ŶƚŚĞĐĂƐĞŽĨĐŽŵŵĞƌĐŝĂůůŽƚƐŽ ƌƉĂƌĐĞůƐ͕ƚŚĞƐĞůŽĐĂůůŝŐŚƚƐ͕ďǇŝŵƉƌŽǀŝŶŐ ŝŶŐƌĞƐƐĂŶĚĞŐƌĞƐƐ͕ĨĂĐŝůŝƚĂƚĞƚŚĞŽƉĞŶŝŶŐĂŶĚŽƉĞƌĂƚŝŽŶŽĨďƵƐŝŶĞƐƐĞƐĂĨƚĞƌƐƵŶƐĞƚ͘ ƌƚĞƌŝĂů >ŝŐŚƚŝŶŐ ͲdŚĞ ŝŶƐƚĂůůĂƚŝŽŶ͕ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶ ƚ Ğ Ŷ Ă Ŷ Đ Ğ Ă Ŷ Ě Ɛ Ğ ƌ ǀ ŝ Đ ŝ Ŷ Ő Ž Ĩ Ă ƌ ƚ Ğ ƌŝĂů ůŝŐŚƚŝŶŐ ;ŝŶĐůƵĚŝŶŐ ƚƌĂĨĨŝĐ ƐŝŐŶĂůƐ͕ ŝŶƚĞƌƐĞĐƚŝŽŶ ƐĂĨĞƚǇ ůŝŐŚƚŝŶŐ͕ ĨƌĞĞǁĂǇ ƵŶĚĞƌƉĂƐƐ ůŝŐŚƚŝŶŐ͕ ĂŶĚ ůŝŐŚƚŝŶŐ ŽŶ ĂƌƚĞƌŝĂů ƐƚƌĞĞƚƐͿ ƉƌŽǀŝĚĞƐĂƐƉĞĐŝĂůďĞŶĞĨŝƚƚŽĞĂĐŚĂŶĚĞǀĞƌǇĂƐƐĞƐƐĂďůĞůŽƚŽƌ ƉĂƌĐĞůǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚďǇ͗ϭͿŝŵƉƌŽǀĞĚ ŶŝŐŚƚƚŝŵĞǀŝƐŝďŝůŝƚǇĨŽƌƚŚĞĂĐĐĞƐƐŽĨĞŵĞƌŐĞŶĐǇǀĞŚŝĐůĞƐ͕ĂŶĚ ϮͿŝŵƉƌŽǀĞĚƐĂĨĞƚǇĂŶĚƚƌĂĨĨŝĐĐŝƌĐƵůĂƚŝŽŶƚŽ ĂŶĚĨƌŽŵƉĂƌĐĞůƐĐŝƚǇǁŝĚĞ͘
DĞƚŚŽĚŽůŽŐǇ
>ŽĐĂů>ŝŐŚƚŝŶŐƐƐĞƐƐŵĞŶƚ
dŚĞƐƉĞĐŝĂůďĞŶĞĨŝƚĨƌŽŵŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽ ĨůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ ŽŶůǇ ĂĐĐƌƵĞƐ ƚŽ ƚŚŽƐĞ ƉĂƌĐĞůƐ ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ůŽĐĂƚĞĚ ŝŶ Ăƌ ĞĂƐ ǁŚĞƌĞ ƐƵĐŚ ůŝŐŚƚŝŶŐ ŝƐ ƉƌŽǀŝĚĞĚ͘ dŚĞƌĞĨŽƌĞ͕ƉĂƌĐĞůƐǁŝƚŚŽƵƚůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐĂƌĞŶŽƚĂƐƐĞƐƐ ĞĚĨŽƌƚŚĞĐŽƐƚŽĨƉƌŽǀŝĚŝŶŐƐƵĐŚůŝŐŚƚŝŶŐ͘ 'ĞŶĞƌĂůůǇ͕ĂƉĂƌĐĞůŝƐĚĞƚĞƌŵŝŶĞĚƚŽŚĂǀĞůŽĐĂůůŝŐŚƚŝŶŐƉƌŽǀŝĚ ĞĚŝĨĂƐƚƌĞĞƚůŝŐŚƚŝƐǁŝƚŚŝŶĂƉƉƌŽǆŝŵĂƚĞůǇ ϵϬĨĞĞƚŽĨƚŚĞƉĂƌĐĞů͘
38 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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dŚĞďĞŶĞĨŝƚĨƌŽŵůŽĐĂůůŝŐŚƚŝŶŐĐĂŶďĞŵĞĂƐƵƌĞĚďǇŝŶĐƌĞĂƐĞĚƐĂĨĞƚǇƚŽƉĞŽƉůĞĂŶĚƉƌŽƉĞƌƚǇ͕ĂƐǁĞůůĂƐƚŚĞ ŝŶĐƌĞĂƐĞĚĂǀĂŝůĂďŝůŝƚǇŽĨůŝŐŚƚŝŶŐ͘/ŶŽƌĚĞƌƚŽĞƐƚĂďůŝƐŚƚŚĞ ƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨůŽĐĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚƚŽ ĂŶǇƉĂƌĐĞůŽĨůĂŶĚŝŶƌĞůĂƚŝŽŶƚŽƚŚĞƚŽƚĂůƐƉĞĐŝĂůďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇůŽĐĂůůŝŐŚƚŝŶŐ͕ŝƚŝƐŶĞĐĞƐƐĂƌǇƚŽ ĞƐƚĂďůŝƐŚĂďĞŶĐŚŵĂƌŬƚŽƌĞůĂƚĞƚŚĂƚŽŶĞƉĂƌĐĞůƚŽĂůůŽƚŚĞƌƐ͘ dŚĞďĞŶĐŚŵĂƌŬŝƐĐĂůůĞĚƚŚĞƐƐĞƐƐŵĞŶƚ hŶŝƚ;hͿ͘dŚĞŝƐƚƌŝĐƚƵƐĞƐƚŚĞ^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶĐĞ;^&ZͿ ĂƐƚŚĞďĞŶĐŚŵĂƌŬh͘ůůŽƚŚĞƌůĂŶĚƵƐĞƐ ǁŝůůďĞĐŽŵƉĂƌĞĚƚŽƚŚĞďĞŶĐŚŵĂƌŬŽĨƚŚĞ^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶĐĞƚŽŐĂŝŶĂĐŽŵƉĂƌĂƚŝǀĞƐƐĞƐƐŵĞŶƚhŶŝƚ ďĂƐĞĚŽŶƉŽƉƵůĂƚŝŽŶĂŶĚƉĂƌĐĞůƐŝǌĞĂƐĚĞƐĐƌŝďĞĚďĞůŽǁ͘&ŽƌƉĂ ƌĐĞůƐǁŝƚŚůŽĐĂůůŝŐŚƚŝŶŐ͕ƚŚĞƌĞĞǆŝƐƚƐƚŚĞ ĐŽƌĞ ďĞŶĞĨŝƚ ŽĨ ĂǀĂŝůĂďůĞ ůŝŐŚƚŝŶŐ ĨŽƌ ĞǀĞƌǇ ƉĂƌĐĞů ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ŶĞĂƌ Ă ƐƚƌĞĞƚ ůŝŐŚƚ͘ dŚŝƐ ͞ǀĂŝůĂďŝůŝƚǇ͟ ď Ğ Ŷ Ğ Ĩ ŝ ƚŝ ƐĂƉƉ Žƌ ƚ ŝ ŽŶ Ğ Ě ƚ ŽƉ Ăƌ Đ Ğ ů Ɛǁŝƚ Ś ůŽĐ Ăů ů ŝ Ő Śƚ ŝ Ŷ ŐŝŶ ƚ ŚĞ ŝƐƚƌŝĐƚ ŽŶ Ă ƉĞƌ ƉĂƌĐĞů ďĂƐŝƐ͕ ĂŶĚ ŚĂƐ ďĞĞŶ ĂƐƐŝŐŶĞĚŽŶĞͲĨŽƵƌƚŚŽĨƚŚĞ^&ZƐƐĞƐƐŵĞŶƚhŶŝƚ͘/ŶĂĚĚŝƚŝŽŶƚŽƚŚŝƐďĞŶĞĨŝƚ͕ƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚďĞŶĞĨŝƚ ĨƌŽŵŝŵƉƌŽǀĞĚƐĂĨĞƚǇƌĞůĂƚĞĚƚŽƉĞŽƉůĞǁŚŽŽǁŶŽƌƵƐĞƚŚĞƉĂƌĐĞ ůƐŝŶƚŚĞŝƐƚƌŝĐƚ;͞^ĂĨĞƚǇƚŽWĞŽƉůĞ͟Ϳ͕ ǁŚŝĐŚŚĂƐďĞĞŶĂƐƐŝŐŶĞĚŽŶĞͲŚĂůĨŽĨƚŚĞ^&ZƐƐĞƐƐŵĞŶƚhŶŝƚ͘WĂƌĐĞůƐĂůƐŽďĞŶĞĨŝƚĨƌŽŵŝŵƉƌŽǀĞĚƐĂĨĞƚǇ ƌĞůĂƚĞĚ ƚŽ ƚŚĞ ƉĂƌĐĞů ŝƚƐĞůĨ ;͞^ĂĨĞƚǇ ƚŽ WƌŽƉĞƌƚǇ͟Ϳ͕ ǁŚŝĐŚ ŚĂƐ ď Ğ Ğ Ŷ Ă Ɛ Ɛ ŝ Ő Ŷ Ğ Ě Ž Ŷ Ğ Ͳ Ĩ Ž Ƶ ƌ ƚ Ś Ž Ĩ ƚ Ś Ğ ^ & Z ƐƐĞƐƐŵĞŶƚhŶŝƚ͘dŚĞƚŚƌĞĞďĞŶĞĨŝƚĨĂĐƚŽƌƐĂƌĞƚŚĞŶĂĚĚĞĚƚŽŐĞƚŚĞƌĨŽƌĂƚŽƚĂůŽĨϭhƉĞƌ^&Z͘ ^ĂĨĞƚǇƚŽWĞŽƉůĞĞŶĞĨŝƚн^ĂĨĞƚǇƚŽWƌŽƉĞƌƚǇĞŶĞĨŝƚнǀĂŝůĂďŝůŝƚǇĞŶĞĨŝƚс ^&ZĞŶĞĨŝƚ ϭͬϮhϭͬϰhϭͬϰh ϭh ^ĂĨĞƚǇƚŽWĞŽƉůĞ
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tŚĂƚŝƐŐŽŽĚĨŽƌƉĞŽƉůĞŝƐĂůƐŽŝŵƉŽƌƚĂŶƚƚŽƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂů ĂŶĚEŽŶƉƌŽĨŝƚƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƐƚƌŝĐƚ͘ EŽŶƌĞƐŝĚĞŶƚŝĂůƉƌŽƉĞƌƚŝĞƐƌĞĐĞŝǀĞ^ĂĨĞƚǇƚŽWĞŽƉůĞďĞŶĞĨŝƚĨƌŽŵ ƐƚƌĞĞƚůŝŐŚƚŝŶŐƚŚƌŽƵŐŚƚŚĞƌĞĚƵĐƚŝŽŶŝŶ ĐƌŝŵŝŶĂůĂĐƚƐƚŽĞŵƉůŽǇĞĞƐŝŶƚŚĞŝƌƉĂƌŬŝŶŐůŽƚƐĂƐǁĞůůĂƐƌĞůĂƚĞĚƚƌĂĨĨŝĐƐĂĨĞƚǇŽĨĞŵƉůŽǇĞĞƐ͘ dŚĞƌĞĨŽƌĞ͕ƚŚĞ^ĂĨĞƚǇƚŽWĞŽƉůĞďĞŶĞĨŝƚƌĞĐĞŝǀĞĚďǇEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐŝƐ͕ĂƚĂŵŝŶŝŵƵŵ͕ƚŚĂƚĂŵŽƵŶƚ ƌĞĐĞŝǀĞĚďǇƐŝŶŐůĞĨĂŵŝůǇƉĂƌĐĞůƐĨŽƌĞǀĞƌǇƉŽƌƚŝŽŶŽĨƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůƉƌŽƉĞƌƚǇĞƋƵĂůŝŶƐŝǌĞƚŽĂƚǇƉŝĐĂů ƐŝŶŐůĞĨĂŵŝůǇƉĂƌĐĞů͘/ŶĂĚĚŝƚŝŽŶ͕ŝŶŽƌĚĞƌƚŽĚŝƐƚƌŝďƵƚĞďĞŶĞ ĨŝƚďĞƚǁĞĞŶƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ͕ƚŚĞ ŝŶĚŝǀŝĚƵĂůůŽƚƐŝǌĞŽĨĞĂĐŚEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůǁŝůůďĞƵƐĞĚƚŽĐŽŵƉƵƚĞƚŚĞƉĂƌĐĞů͛ƐďĞŶĞĨŝƚƉŽŝŶƚƐ͘ EŽŶƉƌŽĨŝƚƉƌŽƉĞƌƚŝĞƐďĞŶĞĨŝƚĨƌŽŵůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐƚŚƌŽƵŐŚ ƚŚĞƌĞĚƵĐƚŝŽŶŝŶĐƌŝŵŝŶĂůĂĐƚƐƚŽŵĞŵďĞƌƐ Žƌ ǀŝƐŝƚŽƌƐ ŽŶ ƉƌŽƉĞƌƚǇ ŐƌŽƵŶĚƐ ĂƐ ǁĞůů ĂƐ ƚƌĂĨĨŝĐ ƐĂĨĞƚǇ ƚŽ ƉĞŽ Ɖ ů Ğ ƚ ƌ Ă ǀ Ğ ů ŝ Ŷ Ő ƚ Ž Ă Ŷ Ě Ĩ ƌ Ž ŵ ƚ Ś Ğ Ɖ ƌ Ž Ɖ Ğ ƌ ƚ Ǉ ͘ ,ŽǁĞǀĞƌ͕ ŽŶ ĂŶ ŽŶŐŽŝŶŐ ďĂƐŝƐ͕ ŶŽŶƉƌŽĨŝƚ ƉƌŽƉĞƌƚŝĞƐ ŐĞŶĞƌĂůůǇ ŚĂǀĞ ĂŶ ŝŶĐŽŶƐŝƐƚĞŶƚ ŶƵŵďĞƌ ŽĨ ƉĞŽƉůĞ ƵƐŝŶŐƚŚĞĨĂĐŝůŝƚŝĞƐŽŶĂĚĂǇͲƚŽͲĚĂǇďĂƐŝƐ͘hŶůŝŬĞĂŶŽĨĨŝĐĞ͕ ǁĂƌĞŚŽƵƐĞ͕ŽƌƌĞƚĂŝůĞƐƚĂďůŝƐŚŵĞŶƚ͕ĂƚǇƉŝĐĂů ŶŽŶƉƌŽĨŝƚĨĂĐŝůŝƚǇǁŝůůŚĂǀĞŽŶĞŽƌƚǁŽĚĂǇƐŽĨŝŶƚĞŶƐĞƵƐĞĂŶĚ ŵŽƌĞĚĂǇƐŽĨůĞƐƐŝŶƚĞŶƐŝǀĞƵƐĞǁŚĞƌĞĂ 39 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ
ůů ƉĂƌĐĞůƐ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ƌĞĐĞŝǀĞ Ă ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ĨƌŽŵ ƚŚĞŝŶƐƚĂůůĂƚŝŽŶ͕ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚƌĂĨĨŝĐ ƐŝŐŶĂůƐ ĂŶĚ ĨƌĞĞǁĂǇ ůŝŐŚƚŝŶŐ ĂƐ ǁĞůů ĂƐ ƚŚĞ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƐĂĨĞƚǇůŝŐŚƚŝŶŐĂŶĚƐƚƌĞĞƚůŝŐŚƚŝŶŐŽŶĂƌƚĞƌŝĂůƐƚƌĞĞƚƐ͘dŚĞĂ ƌƚĞƌŝĂůůŝŐŚƚŝŶŐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ƐĂĨĞƚǇůŝŐŚƚŝŶŐ͕ ĨƌĞĞǁĂǇůŝŐŚƚŝŶŐ͕ĂŶĚĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐ;ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐͿ ĂƌĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚŽƵƚƚŚĞŝƚǇĂŶĚĂůů ƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƚǇŵĂǇĞĂƐŝůǇĂĐĐĞƐƐƚŚĞƐĞŝŵƉƌŽǀĞŵĞŶƚƐ͘/ŶĐŽŶƚƌĂƐƚƚŽ>ŽĐĂů>ŝŐŚƚŝŶŐ͕ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ ďĞŶĞĨŝƚƐƉƌŽƉĞƌƚŝĞƐƉƌŝŵĂƌŝůǇďĞĐĂƵƐĞƚŚĞƉƌŽƉĞƌƚŝĞƐ͕ĂŶĚƚŚĞƉ ĞƌƐŽŶƐƵƐŝŶŐƚŚĞƉƌŽƉĞƌƚŝĞƐ͕ĂƌĞƉƌŽǀŝĚĞĚ ƐĂĨĞ ĂƌƚĞƌŝĂů ƐƚƌĞĞƚ ĂĐĐĞƐƐ͘ dŚĞƌĞĨŽƌĞ͕ ƌƚĞƌŝĂů >ŝŐŚƚŝŶŐ ďĞŶĞĨŝƚ ǁŝůů ďĞ ĂƉƉŽƌƚŝŽŶĞĚ ƚŽ ZĞƐŝĚĞŶƚŝĂů ĂŶĚ EŽŶƌĞƐŝĚĞŶƚŝĂů ƉĂƌĐĞůƐ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ŽŶ Ă ƉĞƌ ƵŶŝƚ ďĂƐŝƐ ƚĂŬŝŶŐ ŝŶƚŽ ĂĐĐŽƵŶƚ ĚĞŵŽŐƌĂƉŚŝĐ ƉŽƉƵůĂƚŝŽŶ ŝŶĨŽƌŵĂƚŝŽŶ͘
EŽŶƌĞƐŝĚĞŶƚŝĂůĂŶĚEŽŶƉƌŽĨŝƚƉĂƌĐĞůƐƌĞůǇŝŶůĂƌŐĞƉĂƌƚŽŶƚŚĞĨůŽǁŽĨƚŚƌŽƵŐŚƚƌĂĨĨŝĐƚŽĂƚƚƌĂĐƚĞŵƉůŽǇĞĞƐ͕ ŵĞŵďĞƌƐĂŶĚĐƵƐƚŽŵĞƌƐ͕ĂŶĚƚŚĞƌĞĨŽƌĞďĞŶĞĨŝƚĨƌŽŵƌƚĞƌŝĂů>ŝŐŚ ƚŝŶŐ͕ĂƚůĞĂƐƚĂƐŵƵĐŚĂƐƐŝŶŐůĞĨĂŵŝůǇ ƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ͘ĐĐŽƌĚŝŶŐů Ǉ͕ƚŚĞƐĞƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚƚ ŚĞŵŝŶŝŵƵŵƚŚĂƚǁŽƵůĚďĞĂƐƐĞƐƐĞĚƚŽĂ ϳ͕ϮϬϬƐƋƵĂƌĞĨŽŽƚZĞƐŝĚĞŶƚŝĂůƉĂƌĐĞů͘^ŝŶĐĞůĂƌŐĞƌƉĂƌĐĞůƐ͕ǁŚ ŝĐŚĂƚƚƌĂĐƚŵŽƌĞĞŵƉůŽǇĞĞƐ͕ŵĞŵďĞƌƐĂŶĚ ĐƵƐƚŽŵĞƌƐ͕ĚĞƌŝǀĞĂŐƌĞĂƚĞƌďĞŶĞĨŝƚĨƌŽŵƚŚĞƚƌĂĨĨŝĐƐŝŐŶĂůƐĂŶ ĚƐĂĨĞƚǇůŝŐŚƚŝŶŐƚŚĂŶƐŵĂůůĞƌƉĂƌĐĞůƐ͕ƚŚĞ ĂƐƐĞƐƐŵĞŶƚ ĨŽƌ Ă EŽŶƌĞƐŝĚĞŶƚŝĂů Žƌ EŽŶƉƌŽĨŝƚ ƉĂƌĐĞů ŝƐ ĐĂůĐƵůĂƚĞ Ě ď Ă Ɛ Ğ Ě Ž Ŷ ƚ Ś Ğ Ɛ Ƌ Ƶ Ă ƌ Ğ Ĩ Ž Ž ƚ Ă Ő Ğ Ž Ĩ ƚ Ś Ğ ƉĂƌĐĞů͘
ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐďĞŶĞĨŝƚŝƐďĂƐĞĚŽŶƚŚĞĚĞŵŽŐƌĂƉŚŝĐƉŽƉƵůĂƚŝŽŶŝŶĨŽƌŵĂƚŝŽŶƐŚŽǁŶŝŶdĂďůĞϭ;WŽƉƵůĂƚŝŽŶ ĞŵŽŐƌĂƉŚŝĐƐͿĂďŽǀĞ͘ůůƌĞƐŝĚĞŶƚŝĂůƵƐĞƐĂƌĞƌĞůĂƚĞĚďĂƐĞĚŽŶƚŚĞĂǀĞƌĂŐĞƉŽƉƵůĂƚŝŽŶĨŽƌƚŚĞƌĞƐƉĞĐƚŝǀĞ ůĂŶĚƵƐĞ͘dŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůĂŶĚEŽŶƉƌŽĨŝƚůĂŶĚƵƐĞƐŚĂǀĞďĞĞŶ ĂƐƐŝŐŶĞĚĂŵŝŶŝŵƵŵƐŝŶŐůĞĨĂŵŝůǇĨĂĐƚŽƌ ^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϮϮ͕Ϭϰϰ ϮϮ͕Ϭϰϲ Ϭ ϮϮ͕Ϭϰϲ͘ϬϬϬ
ŽŶĚŽŵŝŶŝƵŵ ϱ͕ϵϮϱ ϱ͕ϵϲϲ Ϭ ϰ͕ϳϭϯ͘ϭϰϬ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭ͕Ϭϲϱ ϭϯ͕ϬϵϮ Ϭ ϳ͕ϬϴϬ͘Ϭϯϱ
DŽďŝůĞ,ŽŵĞ ϭϮ ϭ͕ϭϵϳ Ϭ Ϯϳϯ͘ϲϬϬ
EŽŶƌĞƐŝĚĞŶƚŝĂůΎ ϭ͕ϱϭϬ Ϭ ϲϳ͕ϵϲϬ͕ϵϰϰ ϳ͕ϬϴϮ͘Ϯϭϴ
EŽŶƉƌŽĨŝƚΎ ϭϮϮ Ϭ ϴ͕Ϭϯϭ͕Ϯϱϱ ϰϮϯ͘ϯϴϱ
sĂĐĂŶƚ ϳϬ Ϭ ϭ͕Ϯϵϳ͕ϯϭϯ ϲϰ͘ϱϳϬ
ϯϬ͕ϳϰϴ ϰϮ͕ϯϬϭ ϳϳ͕Ϯϴϵ͕ϱϭϮ ϰϭ͕ϲϴϮ͘ϵϰϴ
^ƋƵĂƌĞ ĨĞĞƚ ƐŚŽǁŶ ĂƌĞ ƚŽƚĂů ƐƋƵĂƌĞ ĨĞĞƚ͘ EŽŶƌĞƐŝĚĞŶƚŝĂů ĂŶĚ EŽŶƉƌŽĨŝƚ ƉĂƌ ĐĞůƐ ĂƌĞ ĂƐƐĞƐƐĞĚĂŵŝŶŝŵƵŵŽĨϭh͘
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WĂƌĐĞůƐ ǁĞůůŝŶŐƐ ^ƋƵĂƌĞ&ƚ>ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ
Ψϳϯϵ͕ϰϱϱ ͬ ϰϭ͕ϲϴϮ͘ϵϰϴ hΖƐ с Ψϭϳ͘ϳϰ ͬh
42 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϮ

ƵŶĚĞƌƚŚĞƉƌĞŵŝƐĞƚŚĂƚƌĞŐĂƌĚůĞƐƐŽĨƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůƵƐĞ͕ƚŚĞŵŝŶŝŵƵŵďĞŶĞĨŝƚƚŽƚŚĞƉĂƌĐĞůŝƐƚŚĂƚŽĨ ĂƐŝŶŐůĞĨĂŵŝůǇƌĞƐŝĚĞŶĐĞ͘
dŚĞƐŝŶŐůĞĨĂŵŝůǇĨĂĐƚŽƌŽĨϭ͘ϬďĞŶĞĨŝƚƉŽŝŶƚƉĞƌƵŶŝƚŝƐĂƐƐŝŐ ŶĞĚƚŽĞǀĞƌǇϳ͕ϮϬϬƐƋƵĂƌĞĨŽŽƚƉŽƌƚŝŽŶŽĨĂ EŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůǁŝƚŚĞǀĞƌǇƉĂƌĐĞůĂƐƐŝŐŶĞĚĂŵŝŶŝŵƵŵŽĨϳ ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚ͘dŚĞϳ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚ ŝƐďĂƐĞĚŽŶƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞWůĂŶŶŝŶŐĞƉĂƌƚŵĞŶƚŝŶĨŽƌŵ ĂƚŝŽŶƌĞŐĂƌĚŝŶŐƚǇƉŝĐĂůǌŽŶŝŶŐĚĞŶƐŝƚǇ ĨŽƌƐŝŶŐůĞĨĂŵŝůǇŚŽƵƐĞƐŽĨƐŝǆŚŽŵĞƐƉĞƌĂĐƌĞĂƐƐŚŽǁŶŝŶdĂďůĞϮ;ǀĞƌĂŐĞĞŶƐŝƚǇWĞƌhŶŝƚͿĂďŽǀĞ͘ EŽŶƉƌŽĨŝƚ ƉĂƌĐĞůƐ ďĞŶĞĨŝƚ ĨƌŽŵ ƐĂĨĞ ĂƌƚĞƌŝĂů ƐƚƌĞĞƚ ĂĐĐĞƐƐ ĂŶĚ ƚŚĞ ĨůŽǁ ŽĨ ƚŚƌŽƵŐŚ ƚƌĂĨĨŝĐ ƚŽ ĂƚƚƌĂĐƚ ŵĞŵďĞƌƐ͘ĞĐĂƵƐĞEŽŶƉƌŽĨŝƚƉĂƌĐĞůƐĂƌĞƚǇƉŝĐĂůůǇƵƐĞĚůĞƐƐŝŶƚ ĞŶƐŝǀĞůǇƚŚĂŶŽƚŚĞƌEŽŶƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͕ ƚŚĞǇĂƌĞĂƐƐĞƐƐĞĚĂƚĂůŽǁĞƌƌĂƚĞƚŚĂŶƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͘EŽŶƉƌŽĨŝƚƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚĂƚŽŶĞͲŚĂůĨ ƚŚĞƌĂƚĞŽĨƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͕ǁŝƚŚĂŵŝŶŝŵƵŵĂƐƐĞƐƐŵĞŶƚĞƋƵĂůƚŽĂƐŝŶŐůĞĨĂŵŝůǇƌĞƐŝĚĞŶĐĞ͘ s Ă Đ Ă Ŷ ƚ Ɖ ƌ Ž Ɖ Ğ ƌ ƚ ŝ Ğ Ɛ ͕ ǁ Ś ŝ Đ Ś Ś Ă ǀ Ğ Ŷ Ž Ɖ Ğ Ž Ɖ ů Ğ ƌ Ğ Ɛ ŝ Ě ŝ Ŷ Ő Ž Ŷ ƚ Ś Ğ Ɖ ƌ Ž Ɖ Ğ ƌ ƚǇ͕ ĂůƐŽ ďĞŶĞĨŝƚ ĨƌŽŵ ĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐ ďĞĐĂƵƐĞŽĨƚŚĞĐŽŶǀĞŶŝĞŶĐĞĂƐƐŽĐŝĂƚĞĚǁŝƚŚĞŵĞƌŐĞŶĐǇǀĞŚŝĐůĞĂĐĐĞƐƐĂŶĚŽƚŚĞƌƚƌĂĨĨŝĐƚŚĂƚŵƵƐƚƵƐĞƚŚĞ ĂƌƚĞƌŝĂůƐƚƌĞĞƚƐƚŽƐĞƌǀŝĐĞƚŚĞsĂĐĂŶƚƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƐƚƌŝ Đƚ͘dŚĞƌĞĨŽƌĞ͕sĂĐĂŶƚƉĂƌĐĞůƐĂƌĞĂƐƐŝŐŶĞĚĂ ƉĞƌƉĂƌĐĞůďĞŶĞĨŝƚƉŽŝŶƚ͘sĂĐĂŶƚƉĂƌĐĞůƐĂƌĞĂƐƐŝŐŶĞĚϬ͘ϮϱďĞŶ ĞĨŝƚƉŽŝŶƚƐƉĞƌƉĂƌĐĞů͕ďĂƐĞĚŽŶƚŚĞĐŽƌĞ ďĞŶĞĨŝƚĂƚƚƌŝďƵƚĂďůĞƚŽĞǀĞƌǇĂƐƐĞƐƐĂďůĞƉĂƌĐĞůŝŶƚŚĞŝƐƚƌŝĐƚĨƌŽŵƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ͘ dĂďůĞ ϱ ƐŚŽǁƐ ƚŚĞ ďƌĞĂŬĚŽǁŶ ŽĨ ƚŚĞ ƐƐĞƐƐŵĞŶƚ hŶŝƚƐ ĂƐƐŝŐŶĞĚ ƚŽ ĞĂĐŚ ůĂŶĚ ƵƐĞ ĨŽƌ Ăůů ĂƐƐĞƐƐĂďůĞ ƉƌŽƉĞƌƚǇŝŶƚŚĞŝƐƚƌŝĐƚ͘

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DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϭ͘ϵϱͬƵŶŝƚ
DŽďŝůĞ,ŽŵĞ Ϭ͘ϰϬͬƵŶŝƚ
EŽŶƌĞƐŝĚĞŶƚŝĂů ϭ͘ϬϬͬϳ͕ϮϬϬƐĨΎ
EŽŶƉƌŽĨŝƚ Ϭ͘ϱϬͬϳ͕ϮϬϬƐĨΎ
sĂĐĂŶƚ Ϭ͘ϮϱͬƉĂƌĐĞů
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43 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϯ

dĂďůĞϲƉƌŽǀŝĚĞƐĂƐƵŵŵĂƌǇŽĨĂƐƐĞƐƐŵĞŶƚƵŶŝƚƐĨŽƌƚŚĞĚŝĨĨĞƌĞŶƚůĂŶĚƵƐĞƐĨŽƌĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚ͘
dŚĞƌĂƚĞƉĞƌhŝƐĐĂůĐƵůĂƚĞĚďǇĚŝǀŝĚŝŶŐƚŚĞƚŽƚĂůďƵĚŐĞƚĂŵŽƵŶƚďǇƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨhΖƐ͗
ůůĞǇ>ŝŐŚƚŝŶŐ
ZĞƐŝĚĞŶƚŝĂů ƉƌŽƉĞƌƚŝĞƐ ĨƌŽŶƚŝŶŐ ĂůůĞǇƐ ǁŝƚŚ ůŽĐĂů ĂůůĞǇ ůŝŐŚƚŝŶ Ő ĂƌĞ ĂƐƐĞƐƐĞĚ ĨŽƌ ůŽĐĂů ĂůůĞǇ ůŝŐŚƚŝŶŐ ĐŽŶƚŝŐƵŽƵƐƚŽƐƵĐŚƉĂƌĐĞůƐŝŶĂĚĚŝƚŝŽŶƚŽĂŶǇŽƚŚĞƌůŝŐŚƚŝŶŐďĞ ŶĞĨŝƚƐ͘dŚĞƐĞƉƌŽƉĞƌƚŝĞƐƌĞĐĞŝǀĞĂƐƉĞĐŝĂů ĂŶĚĚŝƌĞĐƚďĞŶĞĨŝƚĨƌŽŵƚŚĞůŽĐĂůĂůůĞǇůŝŐŚƚŝŶŐ͘dŚĞƌĞĂƌĞĐƵ ƌƌĞŶƚůǇϱϴƐŝŶŐůĞĨĂŵŝůǇƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ ƌĞĐĞŝǀŝŶŐƚŚŝƐďĞŶĞĨŝƚ͕ƚŚĞƌĞĨŽƌĞƚŚĞƌĂƚĞƉĞƌƉĂƌĐĞůŝƐĐĂůĐƵů ĂƚĞĚďǇĚŝǀŝĚŝŶŐƚŚĞƚŽƚĂůďƵĚŐĞƚĂŵŽƵŶƚďǇ ƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨƉĂƌĐĞůƐ͗

ŶŐŝŶĞĞƌŝŶŐĂŶĚ/ŶĐŝĚĞŶƚĂů
ǆƉĞŶƐĞƐ
ůůƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚďĞŶĞĨŝƚĨƌŽŵƚŚĞŽŶŐŽŝŶŐŽƉĞƌĂƚ ŝŽŶŽĨƚŚĞŝƐƚƌŝĐƚ͘dŚĞƌĞĨŽƌĞ͕ĂůůƉĂƌĐĞůƐ ĂƐƐĞƐƐĞĚŝŶƚŚĞŝƐƚƌŝĐƚƌĞĐĞŝǀĞĂƐŚĂƌĞŽĨƚŚĞĂĚŵŝŶŝƐƚƌĂƚŝǀĞ ĐŽƐƚƐĨŽƌƚŚĞŝƐƚƌŝĐƚďĂƐĞĚŽŶƚŚĞŝƌůŝŐŚƚŝŶŐ ďĞŶĞĨŝƚ͘
dŽƚĂůƐƐĞƐƐŵĞŶƚ
dŚĞƚŽƚĂůĂƐƐĞƐƐŵĞŶƚĨŽƌĞĂĐŚƉĂƌĐĞůŝƐƚŚĞƐƵŵŽĨŝƚƐĂƐƐĞƐƐŵĞŶƚƐĨŽƌůŽĐĂůůŝŐŚƚŝŶŐ͕ĂůůĞǇůŝŐŚƚŝŶŐ͕ĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐ͕ ĞŶŐŝŶĞĞƌŝŶŐ ĂŶĚ ŝŶĐŝĚĞŶƚĂůƐ͕ ĂŶĚ͕ ŝĨ ĂƉƉƌŽƉƌŝĂƚĞ͕ ŝƚƐ ĂƐƐĞƐƐŵĞŶƚ ĨŽƌ ŽǁŶƚŽǁŶ ƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ >ŝŐŚƚŝŶŐ ŝŵƉƌŽǀĞŵĞŶƚƐ͘ dŚĞ ŽǁŶƚŽǁŶ ƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ ŝƐ Ă ƐĞƉĂƌĂƚĞ ĚŝƐƚƌŝĐƚ ĂŶĚ ĚĞƚĂŝůƐ ƌĞŐĂƌĚŝŶŐƚŚŽƐĞĂƐƐĞƐƐŵĞŶƚƐĐĂŶďĞĨŽƵŶĚŝŶŝƚƐ
ŶŐŝŶĞĞƌ͛ƐZĞƉŽ ƌƚŽŶĨŝůĞŝŶƚŚĞKĨĨŝĐĞŽĨƚŚĞŝƚǇůĞƌŬ͘ ^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů;^&ZͿ Ϯϲ͕ϯϮϯ Ϯϲ͕ϯϮϲ Ϯϲ͕ϯϮϲ͘ϬϬϬ ŽŶĚŽŵŝŶŝƵŵ ϱ͕ϵϮϲ ϱ͕ϵϳϭ ϱ͕Ϭϳϱ͘ϯϱϬ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭ͕ϭϰϴ ϭϯ͕ϴϱϭ ϭϯ͕ϭϱϴ͘ϰϱϬ
DŽďŝůĞ,ŽŵĞ ϭϰ ϭ͕ϱϱϵ ϲϮϯ͘ϲϬϬ
EŽŶƌĞƐŝĚĞŶƚŝĂůΎ ϭ͕ϱϲϮ ϳϭ͕ϵϬϭ͕ϱϱϵ ϭϬ͕Ϭϱϯ͘ϭϳϱ
EŽŶƉƌŽĨŝƚΎ ϭϮϯ ϴ͕ϬϮϵ͕ϰϭϲ ϱϳϯ͘ϱϰϯ
sĂĐĂŶƚ ϴϴ ϭ͕ϰϮϰ͕ϰϲϬ ϮϮ͘ϬϬϬ
ϯϱ͕ϭϴϰ ϰϳ͕ϳϬϳ ϴϭ͕ϯϱϱ͕ϰϯϱ ϱϱ͕ϴϯϮ͘ϭϭϴ
^ƋƵĂƌĞ ĨĞĞƚ ƐŚŽǁŶ ĂƌĞ ƚŽƚĂů ƐƋƵĂƌĞ ĨĞĞƚ͘ EŽŶƌĞƐŝĚĞŶƚŝĂů ĂŶĚ EŽŶƉƌŽĨŝƚ ƉĂƌ ĐĞůƐ ĂƌĞ ĂƐƐĞƐƐĞĚĂŵŝŶŝŵƵŵŽĨϭh͘
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dŽƚĂůƐ
dŽƚĂůhΖƐ
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ϲͲZd
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WĂƌĐĞůƐ ǁĞůůŝŶŐƐ ^ƋƵĂƌĞ&ƚ>ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ
ΨϲϭϮ͕ϰϳϴ ͬ ϱϱ͕ϴϯϮ͘ϭϭϴ hΖƐ с ΨϭϬ͘ϵϳ ͬh
Ψϭ͕ϰϴϰ ͬ ϱϴ ƉĂƌĐĞůƐ с ΨϮϱ͘ϱϵ ͬWĂƌĐĞů
44 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϰ

WW
E/yʹ^^
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ĚŝĂŐƌĂŵ ƐŚŽǁŝŶŐ ƚŚĞ ĞǆƚĞƌŝŽƌ ďŽƵŶĚĂƌŝĞƐ ŽĨ ƚŚĞ ŝƐƚƌŝĐƚ ĂŶĚ ƚ ŚĞ ĂƌĞĂ ĂƐƐĞƐƐĞĚ ĨŽƌ ŽǁŶƚŽǁŶ ƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ >ŝŐŚƚŝŶŐ ;ŶŽŶƌĞƐŝĚĞŶƚŝĂů ƉƌŽƉĞƌƚŝĞƐ ŽŶ DĂŝŶ ^ƚƌĞĞƚ ďĞƚǁĞĞŶ ĐĂĐŝĂ WĂƌŬǁĂǇ ĂŶĚ 'ĂƌĚĞŶ'ƌŽǀĞŽƵůĞǀĂƌĚƉƌĞǀŝŽƵƐůǇƚŝƚůĞĚ͞DĂŝŶ^ƚƌĞĞƚƐƐĞƐƐŵĞŶ ƚŝƐƚƌŝĐƚEŽ͘ϭ͟ͿŝƐŽŶĨŝůĞŝŶƚŚĞKĨĨŝĐĞ ŽĨƚŚĞŝƚǇůĞƌŬĂŶĚŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘ dŚĞůŝŶĞƐĂŶĚĚŝŵĞŶƐŝŽŶƐŽĨĞĂĐŚůŽƚŽƌƉĂƌĐĞůǁŝƚŚŝŶƚŚĞŝƐƚƌ ŝĐƚĂƌĞƚŚŽƐĞůŝŶĞƐĂŶĚĚŝŵĞŶƐŝŽŶƐƐŚŽǁŶ ŽŶƚŚĞŵĂƉƐŽĨƚŚĞƐƐĞƐƐŽƌŽĨƚŚĞŽƵŶƚǇŽĨKƌĂŶŐĞĨŽƌƚŚĞĨŝƐ ĐĂůǇĞĂƌƚŽǁŚŝĐŚƚŚŝƐƌĞƉŽƌƚĂƉƉůŝĞƐ͘dŚĞ ƐƐĞƐƐŽƌΖƐŵĂƉƐĂŶĚƌĞĐŽƌĚƐĂƌĞŝŶĐŽƌƉŽƌĂƚĞĚďǇƌĞĨĞƌĞŶĐĞŚĞƌĞŝŶĂŶĚŵĂĚĞƉĂƌƚŽĨƚŚŝƐƌĞƉŽƌƚ͘ ƌĞĚƵĐĞĚĐŽƉǇŽĨƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐDĂŝŶ ƚĞŶĂŶĐĞŝƐƚƌŝĐƚDĂƉŝƐƉƌŽǀŝĚĞĚŽŶƚŚĞ ĨŽůůŽǁŝŶŐƉĂŐĞ͘

45 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϱ

46 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϲ

WW
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47

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E'ZKs

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Ɖƌŝůϭϳ͕ϮϬϮϱ

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48 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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ƐƚŝŵĂƚĞ ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϯ WĂƌƚ/sʹDĞƚŚŽĚŽĨƉƉŽƌƚŝŽŶŵĞŶƚ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϱ ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚŝĂŐƌĂŵ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϮ ƉƉĞŶĚŝǆͲƐƐĞƐƐŵĞŶƚZŽůů ͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϭϲ

49 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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;,ĞƌĞŝŶĂĨƚĞƌƌĞĨĞƌƌĞĚƚŽĂƐƚŚĞ͞ŝƐƚƌŝĐƚ͟Ϳ͕
/͕ůŝƐŽŶŽƵůĞǇ͕ĂƵƚŚŽƌŝǌĞĚƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽĨƚŚĞŝƐƚƌŝĐƚ͕ƚŚĞĚƵůǇĂƉƉŽŝŶƚĞĚƐƐĞƐƐŵĞŶƚ ŶŐŝŶĞĞƌƐƵďŵŝƚ
ƚŚĞĨŽůůŽǁŝŶŐZĞƉŽƌƚǁŚŝĐŚĐŽŶƐŝƐƚƐŽĨƚŚĞĨŽůůŽǁŝŶŐĨŽƵƌ;ϰͿƉĂƌƚƐĂŶĚƉƉĞŶĚŝĐĞƐ͗ WZd/
KǀĞƌǀŝĞǁ͗WƌŽǀŝĚĞƐƚŚĞďĂĐŬŐƌŽƵŶĚĂŶĚƌĞĂƐŽŶĨŽƌƚŚĞŝƐƚƌŝĐƚ͘ WZd//
WůĂŶƐĂŶĚ^ƉĞĐŝĨŝĐĂƚŝŽŶƐ͗WůĂŶƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌƚŚĞĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞŝŵƉƌŽǀ ĞŵĞŶƚƐĂƌĞĂƐƐĞƚ Ĩ Ž ƌ ƚ Ś Ž Ŷ ƚ Ś Ğ ů ŝ Ɛ ƚ Ɛ ƚ Ś Ğ ƌ Ğ Ž Ĩ ͕ Ă ƚ ƚ Ă Đ Ś Ğ Ě Ś Ğ ƌ Ğ ƚ Ž ͕ Ă Ŷ Ě Ă ƌ Ğ Ž Ŷ Ĩ ŝ ů Ğ ŝ Ŷƚ Ś Ğ Ž Ĩ Ĩ ŝ Đ Ğ Ž Ĩ ƚ Ś Ğ ŝ ƚ Ǉ Ŷ Ő ŝ Ŷ Ğ Ğ ƌ Ă Ŷ Ě Ă ƌ Ğ
ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘

50
ŝŝ

WZd///
ŽƐƚ
ƐƚŝŵĂƚĞ͗ŶĞƐƚŝŵĂƚĞŽĨƚŚĞĐŽƐƚƐŽĨƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚͬŽƌƐĞƌǀŝĐŝŶŐŽĨƚŚĞĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞ ŝŵƉƌŽǀĞŵĞŶƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ͕ŝŶĐůƵĚŝŶŐŝŶĐŝĚĞŶƚĂůĐŽƐƚƐĂŶĚĞǆƉĞŶƐĞƐŝŶĐŽŶŶĞĐƚŝŽŶƚŚĞƌĞǁŝƚŚ͘ WZd/s
DĞƚŚŽĚŽĨƉƉŽƌƚŝŽŶŵĞŶƚŽĨƚŚĞƐƐĞƐƐŵĞŶƚƐ͗ dŚĞŵĞƚŚŽĚŽĨĂƉƉŽƌƚŝŽŶŵĞŶƚŽĨĂƐƐĞƐƐŵĞŶƚƐŝŶĚŝĐĂƚĞƐ ƚŚĞ ƉƌŽƉŽƐĞĚ ĂƐƐĞƐƐŵĞŶƚ ŽĨ ƚŚĞ ŶĞƚ ĂŵŽƵŶƚ ŽĨ ƚŚĞ ĐŽƐƚƐ ĂŶĚ ĞǆƉĞŶƐĞƐ ŽĨ ƚŚĞ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚͬŽƌ ƐĞƌǀŝĐŝŶŐŽĨƚŚĞĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞĂƐƐĞƐ ƐĞĚƵƉŽŶƚŚĞƐĞǀĞƌĂůůŽƚƐĂŶĚƉĂƌĐĞůƐŽĨ ůĂŶĚǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚƐƉĞĐŝĂů ďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇƐƵĐŚůŽƚƐĂŶĚ ƉĂƌĐĞůƐ͘
ƉƉĞŶĚŝĐĞƐ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚŝĂŐƌĂŵ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚZŽůů

/ŶĐŽŶĐůƵƐŝŽŶ͕ŝƚŝƐŵǇŽƉŝŶŝŽŶ ƚŚĂƚƚŚĞĐŽƐƚƐĂŶĚĞǆƉĞŶƐĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚŚĂǀĞďĞĞŶĂƐƐĞƐƐĞĚƚŽƚŚĞůŽƚƐ ĂŶĚƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƚŚĞŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶ ƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚ ďǇĞĂĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚĂŶĚŝŶĐŽŶĨŽƌŵ ĂŶĐĞǁŝƚŚƚŚĞĂƐƐĞƐƐŵĞŶƚŵĞƚŚŽĚŽůŽŐǇ ĂĚŽƉƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĨŽƌƚŚĞůĞǀǇŝŶŐŽĨĂƐƐĞƐƐŵĞŶƚƐ͘ d
͗Ɖƌŝůϭϳ͕ϮϬϮϱ

ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ů ŝ Ɛ Ž Ŷ Ž Ƶ ů Ğ Ǉ ͕ W ͘
͘ ͕ Ɛ Ɛ Ğ Ɛ Ɛ ŵ Ğ Ŷ ƚ
Ŷ Ő ŝ Ŷ Ğ Ğ ƌ
Z ͘ ͘
͘ E Ž ͘ ϲϭϯϴϯ

Ŷ Ő ŝ Ŷ Ğ Ğ ƌ Ž Ĩ t Ž ƌ Ŭ
Ž Ƶ Ŷ ƚ Ǉ Ž Ĩ K ƌ Ă Ŷ Ő Ğ
^ ƚ Ă ƚ Ğ Ž Ĩ Ă ů ŝ Ĩ Ž ƌ Ŷ ŝ Ă

51 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭ

WZd/ʹKs
Zs/
t
dŚŝƐ ZĞƉŽƌƚ ŝƐ ƉƌĞƉĂƌĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ƚŚĞ ŝƚǇ ŽƵŶĐŝů ĂĐƚŝŽŶ ƚĂŬĞŶ Ăƚ ƚŚĞŝƌ ƌĞŐƵůĂƌ ŵĞĞƚŝŶŐ ŽƌĚĞƌŝŶŐ Ă ZĞƉŽƌƚĨŽƌƚŚĞ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭĂŶĚƚŚĞůĞǀǇŽĨĂƐƐĞƐƐŵĞŶƚƐĨŽƌƚŚĞ&ŝƐĐĂůzĞĂƌĐŽŵŵĞŶĐŝŶŐ :ƵůǇϭ͕ϮϬϮϱĂŶĚĞŶĚŝŶŐ:ƵŶĞϯϬ͕ϮϬϮϲ͘dŚŝƐZĞƉŽƌƚŝƐƉƌĞƉĂƌĞĚ ŝŶĐŽŵƉůŝĂŶĐĞǁŝƚŚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨ WƌŽƉŽƐŝƚŝŽŶϮϭϴĂƐƐƚĂƚĞĚŝŶƌƚ ŝĐůĞƐy///ĂŶĚy///ŽĨƚŚĞĂ ůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶ;ŚĞƌĞŝŶĂĨƚĞƌƌĞĨĞƌƌĞĚƚŽ ĂƐ͞ƌƚŝĐůĞƐ͟Ϳ͕ĂŶĚƚŚĞ>ĂŶĚƐĐ ĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͕ď ĞŝŶŐWĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱŽĨƚŚĞĂůŝĨŽƌŶŝĂ ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ;ŚĞƌĞŝŶĂĨƚĞƌƌĞĨĞƌƌĞĚƚŽĂƐ͞Đƚ͟Ϳ͘ ĂĐŬŐƌŽƵŶĚ
dŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞĐƵƌƌĞŶƚůǇůĞǀŝĞƐĂŶĂƐƐĞƐƐŵĞŶƚĨŽƌƐƚƌĞĞƚůŝŐŚƚŝŶŐŽŶƉĂƌĐĞůƐƚŚƌŽƵŐŚŽƵƚƚŚĞŝƚǇ ƚŚƌŽƵŐŚ ŝƚƐ ŝƚǇǁŝĚĞ ^ƚƌĞĞƚ >ŝŐŚƚŝŶŐ ŝƐƚƌŝĐƚ ;ŚĞƌĞŝŶĂĨƚĞƌ ƌĞĨĞ ƌ ƌ Ğ Ě ƚ Ž Ă Ɛ ͞ ŝ ƚ Ǉ ǁ ŝ Ě Ğ ^ > ͟ Ϳ ͘ ^ ŝ Ŷ Đ Ğ ƚ Ś Ğ ĨŽƌŵĂƚŝŽŶŽĨƚŚĞŝƚǇǁŝĚĞ^>͕ƚǁŽŶŽŶͲĐŽŶƚŝŐƵŽƵƐƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐŚĂǀĞďĞĞŶĂŶŶĞǆĞĚĂŶĚŝŶĐŽƌƉŽƌĂƚĞĚ ŝŶƚŽƚŚĞŝƚǇƉƵƌƐƵĂŶƚƚŽ>&KŶŶĞǆĂƚŝŽŶEŽ͘ϭϰϭ͘dŚĞƐĞƚǁŽĂƌĞĂƐǁĞƌĞƉƌĞǀŝŽƵƐůǇƉƌŽǀŝĚĞĚůŽĐĂůĂŶĚ ĂƌƚĞƌŝĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐďǇƚŚĞŽƵŶƚǇŽĨKƌĂŶŐĞ͘dŚĞŝƚǇŝƐŶŽǁƌĞƋƵŝƌĞĚƚŽƉƌŽǀŝĚĞƌĞƐŽƵƌĐĞƐŝŶŽƌĚĞƌƚŽ ŵĂŝŶƚĂŝŶƚŚĞĐƵƌƌĞŶƚůĞǀĞůƐŽĨƐĞƌǀŝĐĞĨŽƌďŽƚŚůŽĐĂůĂŶĚĂƌƚĞƌ ŝĂůůŝŐŚƚŝŶŐĨŽƌƚŚĞƐĞƚǁŽĂƌĞĂƐ͘ŽŶĞϭŝƐ ĂƐƐĞƐƐĞĚĨŽƌůŽĐĂůĂŶĚĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐǁŝƚŚŝŶƚŚŝƐŝƐƚƌŝĐƚ͘ ŽŶĞϮŝƐĂƐƐĞƐƐĞĚĨŽƌůŽĐĂůůŝŐŚƚŝŶŐŽŶůǇŝŶƚŚŝƐ ŝƐƚƌŝĐƚ͕ǁŚŝůĞƚŚĞĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐŝƐĐŽǀĞƌĞĚďǇƚŚĞŝƚǇǁŝĚĞ^>͘ dŚĞĂƐƐĞƐƐŵĞŶƚŵĞƚŚŽĚŽůŽŐǇĐŽŶƚĂŝŶĞĚŚĞƌĞŝŶŝŶĐŽƌƉŽƌĂƚĞƐĂŶĂŶĂ ůǇƐŝƐŽĨŐĞŶĞƌĂůďĞŶĞĨŝƚĂŶĚƐƉĞĐŝĂů ďĞŶĞĨŝƚĂƐĂƉƉƌŽǀĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĂƚƚŚĞƚŝŵĞƚŚĞŝƐƚƌŝĐƚǁĂƐĨŽƌŵĞĚ͘dŚĞĂƐƐĞƐƐŵĞŶƚƐƚŽďĞůĞǀŝĞĚ ŽŶĞĂĐŚƉƌŽƉĞƌƚǇĚŽŶŽƚĞǆĐĞĞĚƚŚĞƌĞĂƐŽŶĂďůĞĐŽƐƚŽĨƉƌŽƉŽƌƚŝŽ ŶĂůƐƉĞĐŝĂůďĞŶĞĨŝƚĐŽŶĨĞƌƌĞĚŽŶĞĂĐŚ ƉĂƌĐĞůĨƌŽŵƚŚĞĨƵŶĚĞĚŽƉĞƌĂƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƐƚƌĞĞƚůŝŐŚ ƚŝŵƉƌŽǀĞŵĞŶƚƐ͘ /ŶĂĚĚŝƚŝŽŶƚŽ>&KŶŶĞǆĂƚŝŽŶEŽ͘ϭϰϭ͕ƐŝǆŽǁŶĞƌƐŽĨƌĞƐŝĚĞŶƚ ŝĂůƉƌŽƉĞƌƚǇ͕ŝŶĂĐŽŶƚŝŐƵŽƵƐĂƌĞĂŽĨƚŚĞ ŝ ƚ Ǉ Đ Ƶ ƌ ƌ Ğ Ŷ ƚ ů Ǉ ǁ ŝ ƚ Ś ŝ Ŷ ŝ ƚ Ǉ ǁ ŝ Ě Ğ ^ > Ă Ŷ Ě Ă Ɛ Ɛ Ğ Ɛ Ɛ Ğ Ě Ĩ Ž ƌ Ă ƌ ƚ Ğ ƌ ŝ Ă ů ů ŝŐŚƚŝŶŐ ŽŶůǇ͕ ƉĞƚŝƚŝŽŶĞĚ ƚŚĞ ŝƚǇ ĨŽƌ ƚŚĞ ŝŶƐƚĂůůĂƚŝŽŶ ĂŶĚ ŵĂŝŶƚĞŶĂŶĐĞ ŽĨ Ă ƐŝŶŐůĞ ůŽĐĂů ƐƚƌĞĞƚ ůĂŵƉ ƚŽ ďĞŶĞĨŝƚ ƚŚĞŝƌ ƉƌŽƉĞƌƚŝĞƐ͘ dŚĞƌĞĨŽƌĞ͕ ƚŚĞ ĂŶŶƵĂů ĐŽƐƚƐ ŽĨ ŵĂŝŶƚĂŝŶŝŶŐ ƚŚĞ ůŽĐĂů ĂŶĚ ĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐ ƚŚĂƚ ďĞŶĞĨŝƚ ƚŚĞƐĞ ƉƌŽƉĞƌƚǇ ŽǁŶĞƌƐ ŝƐ ƚŽ ďĞ ĂƐƐĞƐƐĞĚĂŶŶƵĂůůǇƚŚƌŽƵŐŚƚŚĞŝƐƚƌŝĐƚ͘

52 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

Ϯ

WZd//ʹW>E^E^W
/&/d/KE^
dŚĞ ĨĂĐŝůŝƚŝĞƐ͕ ǁŚŝĐŚ ŚĂǀĞ ďĞĞŶ ĐŽŶƐƚƌƵĐƚĞĚ ǁŝƚŚŝŶ ƚŚĞ ŝƚǇ ŽĨ'ĂƌĚĞŶ 'ƌŽǀĞ͕ ĂŶĚ ƚŚŽƐĞ ǁŚŝĐŚ ŵĂǇ ďĞ ƐƵďƐĞƋƵĞŶƚůǇĐŽŶƐƚƌƵĐƚĞĚ͕ǁŝůůďĞƐĞƌǀŝĐĞĚĂŶĚŵĂŝŶƚĂŝŶĞĚĂƐŐĞŶĞƌĂůůǇĚĞƐĐƌŝďĞĚĂƐĨŽůůŽǁƐ͗ dŚĞŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞŽƉĞƌĂƚĞĚ͕ŵĂŝŶƚĂŝŶĞĚĂŶĚƐĞƌǀŝĐĞĚďǇƚŚĞ ŝƐƚƌŝĐƚĂƌĞƚŚĂƚƉŽƌƚŝŽŶŽĨƚŚĞůŽĐĂů ĂŶĚĂƌƚĞƌŝĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐƐǇƐƚĞŵŽĨƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ ƚŚĂƚĐŽŶĨĞƌƐƐƉĞĐŝĂůďĞŶĞĨŝƚƚŽƚŚĞŝƐƚƌŝĐƚ ƉĂƌĐĞůƐ͘dŚĞƐƉĞĐŝĨŝĐůŽĐĂƚŝŽŶŽĨďŽƚŚůŽĐĂůĂŶĚĂƌƚĞƌŝĂůƐƚƌĞ ĞƚůŝŐŚƚŝŵƉƌŽǀĞŵĞŶƚƐǁŝƚŚŝŶƚŚĞŝƚǇĐĂŶďĞ ĨŽƵŶĚ ŽŶ ƚŚĞ ^ƚƌĞĞƚ >ŝŐŚƚ /ŶǀĞŶƚŽƌǇ DĂƉƐ ŵĂŝŶƚĂŝŶĞĚ ďǇ ƚŚĞ ŝƚǇĂ Ŷ Ě Ž Ŷ Ĩ ŝ ů Ğ ŝ Ŷ ƚ Ś Ğ Ž Ĩ Ĩ ŝ Đ Ğ Ž Ĩ ƚ Ś Ğ ŝ ƚ Ǉ

ŶŐŝŶĞĞƌǁŚĞƌĞƚŚĞǇĂƌĞĂǀĂŝůĂďůĞĨŽƌŝŶƐƉĞĐƚŝŽŶ͘
ƌƚŝĐůĞy///ŽĨƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶĚĞĨŝŶĞƐ͞ŵĂŝŶƚĞŶĂŶ ĐĞĂŶĚŽƉĞƌĂƚŝŽŶĞǆƉĞŶƐĞƐ͟ĂƐ͞ƚŚĞĐŽƐƚŽĨ ƌĞŶƚ͕ƌĞƉĂŝƌ͕ƌĞƉůĂĐĞŵĞŶƚ͕ƌĞŚĂďŝůŝƚĂƚŝŽŶ͕ĨƵĞů͕ƉŽǁĞƌ͕ĞůĞĐƚƌŝĐĂůĐƵƌƌĞŶƚ͕ĐĂƌĞĂŶĚƐƵƉĞƌǀŝƐŝŽŶŶĞĐĞƐƐĂƌǇƚŽ ƉƌŽƉĞƌůǇŽƉĞƌĂƚĞĂŶĚŵĂŝŶƚĂŝŶĂƉĞƌŵĂŶĞŶƚƉƵďůŝĐŝŵƉƌŽǀĞŵĞŶƚ͘͟ dŚĞŝƐƚƌŝĐƚĨƵŶĚŝŶŐŝŶĐůƵĚĞƐ͕ďƵƚŝƐ ŶŽƚůŝŵŝƚĞĚƚŽ͕ƚŚĞƌĞŵŽǀĂů͕ƌĞƉĂŝƌ͕ƌĞƉůĂĐĞŵĞŶƚŽƌƌĞůŽĐĂƚŝŽŶŽĨůŝŐŚƚƐƚĂŶĚĂƌĚƐ͕ƉŽůĞƐ͕ďƵůďƐ͕ĨŝǆƚƵƌĞƐĂŶĚ Ăůů ĂƉƉƵƌƚĞŶĂŶĐĞƐ͕ ĞůĞĐƚƌŝĐĂů ĞŶĞƌŐǇ͕ ƐƵƉƉůŝĞƐ͕ ĂŶĚ ĞŶŐŝŶĞĞƌŝŶŐ ĂŶĚ ŝŶĐŝĚĞŶƚĂů ĐŽƐƚƐ ƌĞůĂƚŝŶŐ ƚŽ ƚŚĞ ŽƉĞƌĂƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƚŚĞůŽĐĂůĂŶĚĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚŝŶŐƚŚĞŝƐƚƌŝĐƚƉĂƌĐĞůƐ͘ dŚĞůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞŽƉĞƌĂƚĞĚ͕ŵĂŝŶƚĂŝŶĞĚĂŶĚƐĞƌǀŝĐĞĚďǇƚŚĞŝƐƚƌŝĐƚŝŶĐůƵĚĞĂůů

ĚŝƐŽŶŽǁŶĞĚƐƚƌĞĞƚůŝŐŚƚƐǁŝƚŚŝŶƚŚĞƌŝŐŚƚͲŽĨͲǁĂǇŽĨƚŚĞůŽĐĂůƉƵďůŝĐƐƚƌĞĞƚƐůŽĐĂƚĞĚǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐ ŽĨƚŚĞŝƐƚƌŝĐƚĂƐĚŝƐƉůĂǇĞĚŝŶ
ǆŚŝďŝƚ͘dŚĞƐĞůŝŐŚƚƐĂƌĞĂů ůǁŝƚŚŝŶĐůŽƐĞƉƌŽǆŝŵŝƚǇƚŽƚŚĞŝƐƚƌŝĐƚƉĂƌĐĞůƐ ĂŶĚƉƌŽǀŝĚĞƐƉĞĐŝĂůďĞŶĞĨŝƚƚŽƐƵĐŚƉĂƌĐĞůƐ͘
dŚĞĂƌƚĞƌŝĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞŽƉĞƌĂƚĞĚ͕ŵĂŝŶƚĂŝŶĞĚĂŶĚƐĞƌǀŝĐĞĚďǇƚŚĞŝƐƚƌŝĐƚŝŶĐůƵĚĞ Ă ƌĞĂƐŽŶĂďůĞ ĂůůŽĐĂƚŝŽŶ ŽĨ Ăůů
ĚŝƐŽŶͲŽǁŶĞĚ ƐƚƌĞĞƚ ůŝŐŚƚ ŽƉĞƌĂƚŝ Ž Ŷ ͕ ŵ Ă ŝ Ŷ ƚ Ğ Ŷ Ă Ŷ Đ Ğ Ă Ŷ Ě Ɛ Ğ ƌ ǀ ŝ Đ ŝ Ŷ Ő Ž Ŷ ƚ Ś Ğ ŵĂũŽƌĂƌƚĞƌŝĂůƐƚƌĞĞƚƐǁŝƚŚŝŶƚŚĞŝƚǇƚŚĂƚƉƌŽǀŝĚĞƐƉĞĐŝĂůďĞŶ ĞĨŝƚƚŽŽŶĞϭ͘ƌƚĞƌŝĂůůŝŐŚƚŝŶŐĨŽƌƉĂƌĐĞůƐ ǁŝƚŚŝŶŽŶĞϮŝƐĐƵƌƌĞŶƚůǇƉƌŽǀŝĚĞĚďǇĂŶĂƐƐĞƐƐŵĞŶƚƚŚƌŽƵŐŚƚŚ ĞŝƚǇǁŝĚĞ^>ĂŶĚĂƌĞŶŽƚƉĂƌƚŽĨƚŚĞ ŝƐƚƌŝĐƚŝŵƉƌŽǀĞŵĞŶƚƐ͘

53 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϯ

WZd///ʹK^d
^d/Dd

dŚĞ ŝƚǇΖƐ ďƵĚŐĞƚ ĨŽƌ ƚŚĞ ŝŶƐƚĂůůĂƚŝŽŶ͕ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ůŝŐŚƚŝŶŐ ĚĞƚĂŝůƐ ƚŚĞ ĞƐƚŝŵĂƚĞĚĐŽƐƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲĂƐĂǀĂŝůĂďůĞĂƚƚŚĞƚŝŵĞŽĨƉƌĞƉĂƌĂƚŝŽŶŽĨƚŚŝƐZĞƉŽƌƚ͕ĂŶĚŝŶĐůƵĚĞƐ ĞŶŐŝŶĞĞƌŝŶŐĨĞĞƐ͕ůĞŐĂůĨĞĞƐ͕ƉƌŝŶƚŝŶŐ͕ŵĂŝůŝŶŐ͕ƉŽƐƚĂŐĞ͕ƉƵďůŝ ƐŚŝŶŐ͕ĂŶĚĂůůŽƚŚĞƌƌĞůĂƚĞĚĐŽƐƚƐŝĚĞŶƚŝĨŝĞĚ ǁŝƚŚƚŚĞŝƐƚƌŝĐƚƉƌŽĐĞĞĚŝŶŐƐ͘

>ŝŐŚƚŝŶŐŽƐƚ ŽŶĞϭ ŽŶĞϮ dŽƚĂů
>ĂŵƉ^ŝǌĞ EƵŵďĞƌ
ϰ͕ϬϬϬůƵŵĞŶ>
ďƵůďƐ ϰϯ Λ Ψϭϯϱ͘ϭϮ ƉĞƌǇĞĂƌ Ψϱ͕ϲϵϯ͘ϵϲ Ψϭϭϲ͘ϮϬ Ψϱ͕ϴϭϬ͘ ϭϲ

ŶŐŝŶĞĞƌŝŶŐΘ/ŶĐŝĚĞŶƚĂůƐ ;ϭͿ Ψϴϱϵ͘ϵϭ Ψϭϳ͘ϱϱ Ψϴϳϳ͘ϰϲ
ŽƐƚ>ŽĐĂů>ŝŐŚƚŝŶŐ Ψϲ͕ϱϱϯ͘ϴϳ Ψϭϯϯ͘ϳϱ Ψϲ͕ϲϴϳ͘ϲϮ
ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐŽƐƚ ;ϮͿ Ψϯ͕ϳϴϵ͘Ϯϴ ΨϬ͘ϬϬ Ψϯ͕ϳϴϵ͘Ϯϴ
>ĞƐƐ͗ŝƚǇŽŶƚƌŝďƵƚŝŽŶ ;ϯ Ϳ ;Ψϭ͕ϮϱϬ͘ϰϲͿ ΨϬ͘ϬϬ ;Ψϭ͕ϮϱϬ͘ϰϲͿ

ŶŐŝŶĞĞƌŝŶŐΘ/ŶĐŝĚĞŶƚĂůƐ ;ϭͿ Ψϲϵϯ͘ϬϬ ΨϬ͘ϬϬ Ψϲϵϯ͘ϬϬ
ŽƐƚƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ Ψϯ͕Ϯϯϭ͘ϴϮ ΨϬ͘ϬϬ Ψϯ͕Ϯϯϭ͘ϴϮ
dŽƚĂů>ŝŐŚƚŝŶŐŽƐƚ Ψϵ͕ϳϴϱ͘ϲϵ Ψϭϯϯ͘ϳϱ Ψϵ͕ϵϭϵ͘ϰϰ
ŝƐƚƌŝĐƚ
ŶŐŝŶĞĞƌŝŶŐ ;ϰͿ Ψϭ͕ϲϬϲ͘ϭϴ ΨϮϭ͘ϵϱ Ψϭ͕ϲϮϴ͘ϭϯ
dŽƚĂůϮϬϮϱͲϮϲŝƐƚƌŝĐƚ
ǆƉĞŶƐĞƵĚŐĞƚΎ Ψϭϭ͕ϯϵϭ͘ϴϳ Ψϭϱϱ͘ϳϬ Ψϭϭ͕ϱϰϳ͘ ϱϳ
'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶ ;ϱͿ ;Ψϭ͕ϲϭϵ͘ϭϳͿ ;Ψϰϵ͘ϮϲͿ ;Ψϭ͕ϲϲϴ͘ϰϯͿ

ƐƚŝŵĂƚĞĚƐƐĞƐƐŵĞŶƚZĞǀĞŶƵĞ
>ŽĐĂůƐƐĞƐƐŵĞŶƚ Ψϱ͕ϵϲϳ͘ϮϬ ΨϭϬϲ͘ϰϰ Ψϲ͕Ϭϳϯ͘ϲϰ
ƌƚĞƌŝĂůƐƐĞƐƐŵĞŶƚ Ψϯ͕ϴϬϱ͘ϰϵ ΨϬ͘ϬϬ Ψϯ͕ϴϬϱ͘ϰϵ
dŽƚĂů
ƐƚŝŵĂƚĞĚϮϬϮϱͲϮϲƐƐĞƐƐŵĞŶƚ Ψϵ͕ϳϳϮ͘ϳϬ ΨϭϬϲ͘ϰϰ Ψϵ͕ϴϳϵ͘ϭϰ ŽƐƚƉĞƌĂƐƐĞƐƐĞĚƉĂƌĐĞů ^/E'>
&D/>z ΨϮϴ͘ϳϭ Ψϭϳ͘ϳϰ
KEK^ͬdKtE,KD
^ ΨϮϯ͘ϯϯ
Dh>d/Ͳ&D/>z sĂƌŝĞƐ
sEd sĂƌŝĞƐ
;ϭͿ
ŶŐŝŶĞĞƌŝŶŐĂŶĚ/ŶĐŝĚĞŶƚĂůƐŝŶĐůƵĚĞ͕ďƵƚĂƌĞŶŽƚůŝŵŝƚĞĚƚŽ ͕ŝƚǇ ŶŐŝŶĞĞƌŝŶŐĚĞƉĂƌƚŵĞŶƚŵĂŝŶƚĞŶĂŶĐĞ͘
;ϮͿ 'Ăŝů>ĂŶĞƉƌŽƉĞƌƚǇŽǁŶĞƌƐƉĂǇ ĨŽƌĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐƚŚƌŽƵŐŚƚŚĞŝƚǇǁŝĚĞ^>͘ ;ϯͿ ŝƚǇĐŽŶƚƌŝďƵƚŝŽŶƌĞƉƌĞƐĞŶƚƐ ϯϯйŽĨĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐĐŽƐƚƌĞůĂƚŝŶŐƚŽŐĞŶĞƌĂůďĞŶĞĨŝƚ͘ ;ϰͿ ŝƐƚƌŝĐƚĞŶŐŝŶĞĞƌŝŶŐŝŶĐůƵĚĞƐƚŚĞĐŽƐƚŽĨĐŽŵƉůŝĂŶĐĞǁŝƚŚW ƌŽƉŽƐŝƚŝŽŶϮϭϴ͘ ;ϱͿ 'ĞŶĞƌĂů&ƵŶĚĐŽŶƚƌŝďƵƚŝŽŶƌĞƋƵŝƌĞĚƚŽŽĨĨƐĞƚƐŚŽƌƚĨĂůůĚƵĞ ƚŽĨŝǆĞĚĂƐƐĞƐƐŵĞŶƚƌĂƚĞƐ͘ Ύ &ƵŶĚĂůĂŶĐĞŝŶĐůƵĚĞĚŝŶƚŚĞŝƚǇǁŝĚĞŝƐƚƌŝĐƚ
54 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϰ

dŚĞ
ĚŝƐŽŶͲŽǁŶĞĚƐƚƌĞĞƚůŝŐŚƚƐǁĞƌĞĐŽŶǀĞƌƚĞĚƚŽůŝŐŚƚĞŵŝƚƚŝŶŐ ĚŝŽĚĞ;> ͿŝŶϮϬϭϴĂŶĚƚŚĞŝƚǇŽǁŶĞĚ
ůŝŐŚƚƐǁĞƌĞĐŽŶǀĞƌƚĞĚƚŽ>
ŝŶϮϬϮϬ͘
dŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐ ƚŚĂƚĂƐƉĞĐŝ ĂůĨƵŶĚďĞƐĞƚͲƵƉĨŽƌƚŚĞƌĞǀ ĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚ͘ &ƵŶĚƐƌĂŝƐĞĚďǇĂƐƐĞƐƐŵĞŶƚƐŚĂůůďĞƵƐĞĚŽŶůǇĨŽƌƚŚĞƉƵƌƉŽƐĞĂ ƐƐƚĂƚĞĚŚĞƌĞŝŶ͘ ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞ ŝƐƚƌŝĐƚ ďǇ ƚŚĞ ŝƚǇ ŵĂǇ ďĞ ŵĂĚĞ ƚŽ ƌĞĚƵĐĞ ĂƐƐĞƐƐŵĞŶƚƐ͕ ĂƐ ƚŚĞ ŝ ƚ Ǉ Ž Ƶ Ŷ Đ ŝ ů Ě Ğ Ğ ŵ Ɛ Ă Ɖ Ɖ ƌ Ž Ɖ ƌ ŝ Ă ƚ Ğ ͘ Ŷ Ǉ ďĂůĂŶĐĞŽƌĚĞĨŝĐŝƚƌĞŵĂŝŶŝŶŐŽŶ:ƵůǇϭŵƵƐƚďĞĐĂƌƌŝĞĚŽǀĞƌƚŽƚŚĞŶĞǆƚ&ŝƐĐĂůzĞĂƌ͘
55 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϱ

WZd/sʹD
d,KK&WWKZd/KED
Ed
'ĞŶĞƌĂů
WĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱŽĨƚŚĞ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ͕ƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͕ƉĞƌŵŝƚƐ ƚŚĞ ĞƐƚĂďůŝƐŚŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚƐ ďǇ ĐŝƚŝĞƐ ĨŽƌ ƚŚĞ ƉƵƌ ƉŽƐĞ ŽĨ ƉƌŽǀŝĚŝŶŐ ĐĞƌƚĂŝŶ ƉƵďůŝĐ ŝŵƉƌŽǀĞŵĞŶƚƐǁŚŝĐŚŝŶĐůƵĚĞƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƐƚƌ ĞĞƚůŝŐŚƚƐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ůĂŶĚƐĐĂƉŝŶŐ ĂŶĚƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘
^ĞĐƚŝŽŶϮϮϱϳϯ͕>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐ ŚƚŝŶŐĐƚŽĨϭϵϳϮƌĞƋƵŝƌĞƐƚŚ ĂƚŵĂŝŶƚĞŶĂŶĐĞĂƐƐĞƐƐŵĞŶƚƐďĞůĞǀŝĞĚ ĂĐĐŽƌĚŝŶŐƚŽďĞŶĞĨŝƚƌĂƚŚĞƌƚŚĂŶĂĐĐŽƌĚŝŶŐƚŽĂƐƐĞƐƐĞĚǀĂůƵĞ͘dŚŝƐ^ĞĐƚŝŽŶƐƚĂƚĞƐ͗ ΗdŚĞ ŶĞƚ ĂŵŽƵŶƚ ƚŽ ďĞ ĂƐƐĞƐƐĞĚ ƵƉŽŶ ůĂŶĚƐ ǁŝƚŚŝŶ ĂŶ ĂƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ ŵĂǇ ďĞ ĂƉƉŽƌƚŝŽŶĞĚďǇĂŶǇĨŽƌŵƵůĂŽƌŵĞƚŚŽĚǁŚŝĐŚĨĂŝƌůǇĚŝƐƚƌŝďƵƚĞƐƚŚĞŶĞƚĂŵŽƵŶƚĂŵŽŶŐĂůů ĂƐƐĞƐƐĂďůĞůŽƚƐŽƌƉĂƌĐĞůƐŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨ ŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇĞĂĐŚ ƐƵĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘͟
ŽŶĞƐŽĨĞŶĞĨŝƚ
dŚĞĐƚƉĞƌŵŝƚƐƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨǌŽŶĞƐŽĨďĞŶĞĨŝƚǁŝƚŚŝŶĂŶǇŝŶĚŝǀŝĚƵĂůĂƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚŝĨΗďǇƌĞĂƐŽŶ Ž Ĩ ǀ Ă ƌ ŝ Ă ƚ ŝ Ž Ŷ Ɛ ŝ Ŷ ƚ Ś Ğ Ŷ Ă ƚ Ƶ ƌ Ğ ͕ ů Ž Đ Ă ƚ ŝ Ž Ŷ ͕ Ă Ŷ Ě Ğ ǆ ƚ Ğ Ŷ ƚ Ž Ĩ ƚ Ś Ğ ŝ ŵ Ɖ ƌ Ž ǀĞŵĞŶƚƐ͕ ƚŚĞ ǀĂƌŝŽƵƐ ĂƌĞĂƐ ǁŝůů ƌĞĐĞŝǀĞ ĚŝĨĨĞƌĞŶƚĚĞŐƌĞĞƐŽĨďĞŶĞĨŝƚĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘Η;^ĞĐ͘ϮϮϱϳ ϰͿ͘dŚƵƐ͕ƚŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐƚŚĞůĞǀǇ ŽĨĂƚƌƵĞΗĂƐƐĞƐƐŵĞŶƚΗƌĂƚŚĞƌƚŚĂŶĂΗƐƉĞĐŝĂůƚĂǆ͘Η
dŚĞŝƐƚƌŝĐƚŚĂƐƚǁŽǌŽŶĞƐŽĨďĞŶĞĨŝƚǁŚŝĐŚǁĞƌĞĞƐƚĂďůŝƐŚĞĚĂƚ ƚŚĞƚŝŵĞŽĨĨŽƌŵĂƚŝŽŶƚŽĂƉƉŽƌƚŝŽŶƚŚĞ ĐŽƐƚŽĨƚŚĞŝƐƚƌŝĐƚŝŵƉƌŽǀĞŵĞŶƚƐďĂƐĞĚŽŶƉƌŽƉŽƌƚŝŽŶĂůƐƉĞĐŝĂůďĞŶĞĨŝƚĐŽŶĨĞƌƌĞĚŽŶĞĂĐŚƉƌŽƉĞƌƚǇŝŶƚŚĞ ǌŽŶĞƐ͘ dŚĞ ŝƐƚƌŝĐƚ ƉƌŽǀŝĚĞƐ ŽŶĞ ϭ͕ ĂƐ ĚĞƐĐƌŝďĞĚ ďĞůŽǁ͕ ďŽƚŚůŽĐĂů ĂŶĚ ĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐ ďĞŶĞĨŝƚƐ ĂŶĚ ƉƌŽǀŝĚĞƐŽŶĞϮůŽĐĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚŽŶůǇ͘ŽŶĞϮ͕ĂƐĚĞƐĐƌŝ ďĞĚďĞůŽǁ͕ŝƐĐƵƌƌĞŶƚůǇĂƐƐĞƐƐĞĚĨŽƌĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐƚŚƌŽƵŐŚƚŚĞŝƚǇǁŝĚĞ^>͘
ŽŶĞϭ
ŽŶĞϭŽĨƚŚĞŝƐƚƌŝĐƚŝƐĐŽŵƉƌŝƐĞĚŽĨƉƌŽƉĞƌƚǇǁŝƚŚŝŶ>&KŶ ŶĞǆĂƚŝŽŶEŽ͘ϭϰϭƚŚĂƚŝŶĐŽƌƉŽƌĂƚĞƐŝŶƚŽ ƚŚĞŝƚǇďŽƵŶĚĂƌǇƚǁŽŶŽŶͲĐŽŶƚŝŐƵŽƵƐƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐ͘dŚĞĨŝƌƐƚĂŶŶĞǆĂƚŝŽŶĂƌĞĂŝŶĐůƵĚĞƐϮϵϬƉĂƌĐĞůƐŝŶ ƚŚĞ ĂƌĞĂ ŶŽƌƚŚĞĂƐƚ ŽĨ ƚŚĞ ĐŽƌŶĞƌ ŽĨ ĂůĞ ^ƚƌĞĞƚ ĂŶĚ >ĂŵƉƐŽŶ ǀĞŶƵĞ͘ dŚĞ ƐĞĐŽŶĚ ĂŶŶĞǆĂƚŝŽŶ ĂƌĞĂ ŝŶĐůƵĚĞƐϱϰƉĂƌĐĞůƐŽŶƚŚĞǁĞƐƚƐŝĚĞŽĨ&ĂŝƌǀŝĞǁǀĞŶƵĞ͕ƐŽƵƚŚŽĨdƌĂƐŬǀĞŶƵĞ͘dŚĞƐĞĂƌĞĂƐĂƌĞĚŝƐƉůĂǇĞĚ ŽŶƐĞƉĂƌĂƚĞŵĂƉƐĂƐƉƉĞŶĚŝǆ͘

56 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϲ

ŽŶĞϮ
ŽŶĞϮŝŶĐůƵĚĞƐϲƐŝŶŐůĞͲĨĂŵŝůǇƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐůŽĐĂƚĞĚŽŶ 'Ăŝů>ĂŶĞ͕ŶŽƌƚŚŽĨŚĂƉŵĂŶǀĞŶƵĞ͘dŚŝƐ ĂƌĞĂŽĨƚŚĞŝƚǇǁĂƐǁŝƚŚŽƵƚůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐ͕ĂŶĚƚŚĞƉƌŽ ƉĞƌƚǇŽǁŶĞƌƐŽĨƚŚĞƉĂƌĐĞůƐƉĞƚŝƚŝŽŶĞĚƚŚĞ ŝƚǇĨŽƌƚŚĞŝŶƐƚĂůůĂƚŝŽŶ͕ŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐ ŽĨĂƐŝŶŐůĞůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŽŶ'Ăŝů>ĂŶĞ ƚŚĂƚďĞŶĞĨŝƚƐƚŚĞŝƌƉƌŽƉĞƌƚŝĞƐ͘
ŽƵŶĚĂƌŝĞƐŽĨƚŚĞŝƐƚƌŝĐƚ
dŚĞďŽƵŶĚĂƌŝĞƐŽĨ^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭĂƌĞƚŚƌĞĞŶ ŽŶͲĐŽŶƚŝŐƵŽƵƐƌĞƐŝĚĞŶƚŝĂůĂƌĞĂƐŝŶƚŚĞŝƚǇ ĂŶĚĂƌĞƐŚŽǁŶŽŶƚŚĞŵĂƉƐŽŶĨŝůĞŝŶƚŚĞŽĨĨŝĐĞŽĨƚŚĞŝƚǇ ŶŐŝŶĞĞƌĂŶĚĂƚƚĂĐŚĞĚĂƐƉƉĞŶĚŝǆ͘
/ŶĂĚĚŝƚŝŽŶ͕ƌƚŝĐůĞy///^ĞĐƚŝŽŶϰŽĨƚŚĞ^ƚĂƚĞŽŶƐƚŝƚƵƚŝŽŶ ƌĞƋƵŝƌĞƐƚŚĂƚĂƉĂƌĐĞůΖƐĂƐƐĞƐƐŵĞŶƚŵĂǇŶŽƚ ĞǆĐĞĞĚ ƚŚĞ ƌĞĂƐŽŶĂďůĞ ĐŽƐƚ ŽĨ ƚŚĞ ƉƌŽƉŽƌƚŝŽŶĂů ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ĐŽŶĨĞƌƌĞĚ ŽŶ ƚŚĂƚ ƉĂƌĐĞů͘ ^ĞĐƚŝŽŶ ϰ ƉƌŽǀŝĚĞƐƚŚĂƚŽŶůǇƐƉĞĐŝĂůďĞŶĞĨŝƚƐĂƌĞĂƐƐĞƐƐĂďůĞĂŶĚƚŚĞŝƚǇ ŵƵƐƚƐĞƉĂƌĂƚĞƚŚĞŐĞŶĞƌĂůďĞŶĞĨŝƚƐĨƌŽŵ ƚŚĞƐƉĞĐŝĂůďĞŶĞĨŝƚƐ͘
DĞƚŚŽĚŽůŽŐǇ
'ĞŶĞƌĂůĞŶĞĨŝƚ
dŚĞŝƚǇƌĞĐŽŐŶŝǌĞƐƚŚĂƚĂƉŽƌƚŝŽŶŽĨƚŚĞŵĂŝŶƚĞŶĂŶĐĞ͕ŽƉĞƌĂƚŝŽŶĂŶĚƐĞƌǀŝĐŝŶŐŽĨƚŚĞŝƚǇ͛ƐĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐ ŝŵƉƌŽǀĞŵĞŶƚƐĨƵŶĚĞĚďǇƚŚĞŝƐƚƌŝĐƚƉƌŽǀŝĚĞĂŐĞŶĞƌĂůďĞŶĞĨŝƚƚ ŽƚŚĞƉƵďůŝĐĂƚůĂƌŐĞ͘ŝƚǇƚƌĂĨĨŝĐƐƚƵĚŝĞƐ Ś Ă ǀ Ğ Ɛ Ś Ž ǁ Ŷ ƚ Ś Ă ƚ ϯ ϯ й Ž Ĩ ƚ Ś Ğ ŝ ƚ Ǉ ƚ ƌ Ă Ĩ Ĩ ŝ Đ Ĩ ů Ž ǁ Ž Ŷ Ă ƌ ƚ Ğ ƌ ŝ Ă ů Ɛ ƚ ƌ Ğ Ğ ƚƐ ŝƐ ƌĞůĂƚĞĚ ƚŽ ƚŚƌŽƵŐŚ ƚƌĂĨĨŝĐ ĨƌŽŵ ƐƵƌƌŽƵŶĚŝŶŐƌĞŐŝŽŶĂůĂƌĞĂƐ͘dŚŝƐƉĂƐƐͲƚŚƌŽƵŐŚƚƌĂĨĨŝĐŝƐĂŶĂƉ ƉƌŽƉƌŝĂƚĞŵĞĂƐƵƌĞŽĨƚŚĞŐĞŶĞƌĂůďĞŶĞĨŝƚ ƉƌŽǀŝĚĞĚďǇƚŚĞŵĂŝŶƚĞŶĂŶĐĞ͕ŽƉĞƌĂƚŝŽŶĂŶĚƐĞƌǀŝĐŝŶŐŽĨĂƌƚĞƌŝĂ ůůŝŐŚƚƐ͘dŚĞƌĞĨŽƌĞ͕ƚŚĞŝƚǇŝƐŵĂŬŝŶŐĂ ĐŽŶƚƌŝďƵƚŝŽŶŽĨĨƵŶĚƐƚŽƚŚĞŝƐƚƌŝĐƚĞƋƵĂůƚŽŽƌŝŶĞǆĐĞƐƐŽĨƚŚĞϯϯйŽĨƚŚĞĞƐƚŝŵĂƚĞĚĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐĐŽƐƚƐ ĨŽƌƚŚĞŝƐƚƌŝĐƚ͘dŚŝƐĂŵŽƵŶƚŝƐƐŚŽǁŶŝŶƚŚĞ
ƐƚŝŵĂƚĞĚŝƐƚƌŝĐƚƵĚŐĞƚĂƐƚŚĞ͞ŝƚǇŽŶƚƌŝďƵƚŝŽŶ͘͟
^ƉĞĐŝĂůĞŶĞĨŝƚ
ƌƚŝĐůĞƐy///ĂŶĚy///ŽĨƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶĚĞĨŝŶĞ ƐƉĞĐŝĂůďĞŶĞĨŝƚĂƐ͞ĂƉĂƌƚŝĐƵůĂƌĂŶĚĚŝƐƚŝŶĐƚ ďĞŶĞĨŝƚŽǀĞƌĂŶĚĂďŽǀĞŐĞŶĞƌĂůďĞŶĞĨŝƚƐĐŽŶĨĞƌƌĞĚŽŶƌĞĂůƉƌŽƉĞƌƚǇůŽĐĂƚĞĚŝŶƚŚĞŝƐƚƌŝĐƚŽƌƚŽƚŚĞƉƵďůŝĐ ĂƚůĂƌŐĞ͘'ĞŶĞƌĂůĞŶŚĂŶĐĞŵĞŶƚŽ ĨƉƌŽƉĞƌƚǇǀĂůƵĞĚŽĞƐŶŽƚĐŽŶƐƚ ŝƚƵƚĞ͚ƐƉĞĐŝĂůďĞŶĞĨŝƚ͛͘͟dŚĞŵĞƚŚŽĚŽĨ ĂƐƐĞƐƐŵĞŶƚ ĨŽƌ ĞĂĐŚ ŽŶĞ ĂŶĂůǇǌĞƐ ƚŚĞ ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ĞĂĐŚ ƉĂƌĐĞů ƌĞĐĞŝǀĞƐ ĨƌŽŵ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐ ĨƵŶĚĞĚŝŶĞĂĐŚŽŶĞ͘dŚĞĐŽƐƚƐĂƌĞƐƉƌĞĂĚƚŽƚŚĞŝŶĚŝǀŝĚƵĂůƉĂ ƌĐĞůƐďĂƐĞĚŽŶƚŚĞŝƌĂƐƐŝŐŶĞĚƐƐĞƐƐŵĞŶƚ hŶŝƚƐ͘

57 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϳ

ƐƐĞƐƐŵĞŶƚƐĨŽƌƚŚĞŝƐƚƌŝĐƚĂƌĞďĞŝŶŐůĞǀŝĞĚƚŽƉƌŽǀŝĚĞĨƵŶĚŝŶŐĨŽƌƚŚĞĨŽůůŽǁŝŶŐ͗ ϭ͘ dŚĞ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ͕ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ůŽĐĂů ƐƚƌĞĞƚ ůŝŐŚƚ Ɛ ŝŶ ĐůŽƐĞ ƉƌŽǆŝŵŝƚǇ͕ ǁŝƚŚŝŶ ĂƉƉƌŽǆŝŵĂƚĞůǇϵϬĨĞĞƚ͕ƚŽĐĞƌƚĂŝŶůŽƚƐĂŶĚƉĂƌĐĞůƐǁŚŝĐŚƉƌŽǀŝĚ ĞĂĚŝƌĞĐƚƐƉĞĐŝĂůďĞŶĞĨŝƚƚŽƐƵĐŚ ůŽƚƐŽƌƉĂƌĐĞůƐ͘
Ϯ͘ dŚĞŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞ͕ĂŶĚƐĞƌǀŝĐŝŶŐŽĨĂƌƚĞƌŝĂůƐƚƌĞĞƚůŝŐŚƚƐǁŚŝĐŚƉƌŽǀŝĚĞĂƐƉĞĐŝĂůďĞŶĞĨŝƚ ƚŽĂůůƚŚĞĂƐƐĞƐƐĂďůĞƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚǁŚĞƚŚĞƌŽƌŶŽƚƐƵĐŚƉĂƌĐĞůƐĂƌĞŝŶĐůŽƐĞƉƌŽǆŝŵŝƚǇ ƚŽƐƵĐŚůŝŐŚƚŝŶŐ͘
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dŚĞƐƉĞĐŝĂůďĞŶĞĨŝƚĨƌŽŵŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽ ĨůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ ŽŶůǇ ĂĐĐƌƵĞƐ ƚŽ ƚŚŽƐĞ ƉĂƌĐĞůƐ ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ůŽĐĂƚĞĚ ŝŶ Ăƌ ĞĂƐ ǁŚĞƌĞ ƐƵĐŚ ůŝŐŚƚŝŶŐ ŝƐ ƉƌŽǀŝĚĞĚ͘ dŚĞƌĞĨŽƌĞ͕ƉĂƌĐĞůƐǁŝƚŚŽƵƚůŽĐĂůƐƚƌĞĞƚůŝŐŚƚŝŶŐĂƌĞŶŽƚĂƐƐĞƐƐ ĞĚĨŽƌƚŚĞĐŽƐƚŽĨƉƌŽǀŝĚŝŶŐƐƵĐŚůŝŐŚƚŝŶŐ͘ 'ĞŶĞƌĂůůǇ͕ĂƉĂƌĐĞůŝƐĚĞƚĞƌŵŝŶĞĚƚŽŚĂǀĞůŽĐĂůůŝŐŚƚŝŶŐƉƌŽǀŝĚ ĞĚŝĨĂƐƚƌĞĞƚůŝŐŚƚŝƐǁŝƚŚŝŶĂƉƉƌŽǆŝŵĂƚĞůǇ ϵϬĨĞĞƚŽĨƚŚĞƉĂƌĐĞů͘
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58 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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dŚĞ ^ĂĨĞƚǇ ƚŽ WĞŽƉůĞ ďĞŶĞĨŝƚ ŝƐ ĂƉƉŽƌƚŝŽŶĞĚ ƚŽ ƉƌŽƉĞƌƚŝĞƐ ŝŶ ƚŚ Ğ ŝƐƚƌŝĐƚ ďĂƐĞĚ ŽŶ ƚŚĞ ĨŽůůŽǁŝŶŐ ĚĞŵŽŐƌĂƉŚŝĐƉŽƉƵůĂƚŝŽŶŝŶĨŽƌŵĂƚŝŽŶĨŽƌƌĞƐŝĚĞŶƚŝĂůƵƐĞƐĂƐƉƌŽǀŝĚĞĚďǇƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞWůĂŶŶŝŶŐ ĞƉĂƌƚŵĞŶƚ͕ĂƐƐŚŽǁŶŝŶdĂďůĞϭ͘

^ĂĨĞƚǇƚŽWƌŽƉĞƌƚǇ
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ƉĞƌhŶŝƚ
ZŽƵŶĚĞĚйŽĨ
^&Z
^ĂĨĞƚǇƚŽWƌŽƉĞƌƚǇ
ĞŶĞĨŝƚ;ϭͬϰͿ
^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů;^&ZͿ ϳ͕ϮϬϬƐĨͬƵŶŝƚ ϭϬϬй Ϭ͘Ϯϱ ŽŶĚŽŵŝŶŝƵŵ ϯ͕ϯϬϬƐĨͬƵŶŝƚ ϰϲй Ϭ͘ϭϮ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϯ͕ϲϬϬƐĨͬƵŶŝƚ ϯϲй Ϭ͘Ϭϵ
sĂĐĂŶƚ ϳ͕ϮϬϬƐĨͬƵŶŝƚ ϭϬϬй Ϭ͘Ϯϱ
d>
ϮͲs
Z'

E^/dzW
Z>Eh^
;^&
dzdKWZKW
ZdzͿ
59 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϵ

dĂďůĞϰƉƌŽǀŝĚĞƐĂƐƵŵŵĂƌǇŽĨĂƐƐĞƐƐŵĞŶƚƵŶŝƚƐĨŽƌƚŚĞĚŝĨĨĞƌĞŶƚůĂŶĚƵƐĞƐĨŽƌůŽĐĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚ͘

dŚĞƌĂƚĞƉĞƌhŝƐĐĂůĐƵůĂƚĞĚďǇĚŝǀŝĚŝŶŐƚŚĞƚŽƚĂůďƵĚŐĞƚĂŵŽƵŶƚďǇƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨhΖƐ͗

ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐƉƉŽƌƚŝŽŶŵĞŶƚ
ůů ƉĂƌĐĞůƐ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ƌĞĐĞŝǀĞ Ă ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ĨƌŽŵ ƚŚĞŝŶƐƚĂůůĂƚŝŽŶ͕ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚƌĂĨĨŝĐ ƐŝŐŶĂůƐ ĂŶĚ ĨƌĞĞǁĂǇ ůŝŐŚƚŝŶŐ ĂƐ ǁĞůů ĂƐ ƚŚĞ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƐĂĨĞƚǇůŝŐŚƚŝŶŐĂŶĚƐƚƌĞĞƚůŝŐŚƚŝŶŐŽŶĂƌƚĞƌŝĂůƐƚƌĞĞƚƐ͘dŚĞĂ ƌƚĞƌŝĂůůŝŐŚƚŝŶŐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ƐĂĨĞƚǇůŝŐŚƚŝŶŐ͕ ĨƌĞĞǁĂǇůŝŐŚƚŝŶŐ͕ĂŶĚĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐ;ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐͿ ĂƌĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚŽƵƚƚŚĞŝƚǇĂŶĚĂůů ƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƚǇŵĂǇĞĂƐŝůǇĂĐĐĞƐƐƚŚĞƐĞŝŵƉƌŽǀĞŵĞŶƚƐ͘/ŶĐŽŶƚƌĂƐƚƚŽ>ŽĐĂů>ŝŐŚƚŝŶŐ͕ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ ďĞŶĞĨŝƚƐƉƌŽƉĞƌƚŝĞƐƉƌŝŵĂƌŝůǇďĞĐĂƵƐĞƚŚĞƉƌŽƉĞƌƚŝĞƐ͕ĂŶĚƚŚĞƉ ĞƌƐŽŶƐƵƐŝŶŐƚŚĞƉƌŽƉĞƌƚŝĞƐ͕ĂƌĞƉƌŽǀŝĚĞĚ ƐĂĨĞĂƌƚĞƌŝĂůƐƚƌĞĞƚĂĐĐĞƐƐ͘dŚĞƌĞĨŽƌĞ͕ƌƚĞƌŝĂů>ŝŐŚƚŝŶŐďĞŶĞĨŝƚǁŝůůďĞĂƉƉŽƌƚŝŽŶĞĚƚŽƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚ ŽŶĂƉĞƌƵŶŝƚďĂƐŝƐƚĂŬŝŶŐŝŶƚŽĂĐĐŽƵŶƚĚĞŵŽŐƌĂƉŚŝĐƉŽƉƵůĂƚŝŽŶŝŶĨŽƌŵĂƚŝŽŶ͘ s Ă Đ Ă Ŷ ƚ Ɖ ƌ Ž Ɖ Ğ ƌ ƚ ŝ Ğ Ɛ ͕ ǁ Ś ŝ Đ Ś Ś Ă ǀ Ğ Ŷ Ž Ɖ Ğ Ž Ɖ ů Ğ ƌ Ğ Ɛ ŝ Ě ŝ Ŷ Ő Ž Ŷ ƚ Ś Ğ Ɖ ƌ Ž Ɖ Ğ ƌ ƚǇ͕ ĂůƐŽ ďĞŶĞĨŝƚ ĨƌŽŵ ĂƌƚĞƌŝĂů ůŝŐŚƚŝŶŐ ďĞĐĂƵƐĞŽĨƚŚĞĐŽŶǀĞŶŝĞŶĐĞĂƐƐŽĐŝĂƚĞĚǁŝƚŚĞŵĞƌŐĞŶĐǇǀĞŚŝĐůĞĂĐĐĞƐƐĂŶĚŽƚŚĞƌƚƌĂĨĨŝĐƚŚĂƚŵƵƐƚƵƐĞƚŚĞ ĂƌƚĞƌŝĂůƐƚƌĞĞƚƐƚŽƐĞƌǀŝĐĞƚŚĞǀĂĐĂŶƚƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƐƚƌŝ Đƚ͘dŚĞƌĞĨŽƌĞ͕sĂĐĂŶƚƉĂƌĐĞůƐĂƌĞĂƐƐŝŐŶĞĚĂ >ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ ^ĂĨĞƚǇƚŽ
WĞŽƉůĞ
^ĂĨĞƚǇƚŽ
WƌŽƉĞƌƚǇ
ǀĂŝůĂďŝůŝƚǇ
ĞŶĞĨŝƚ dŽƚĂůhΖƐ
^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů;^&ZͿ ͘ϱϬͬƵŶŝƚ ͘ϮϱͬƵŶŝƚ ͘ϮϱͬƉĂƌĐĞů ϭ͘ϬϬͬ ƵŶŝƚΎ ŽŶĚŽŵŝŶŝƵŵ ͘ϰϯͬƵŶŝƚ ͘ϭϮͬƵŶŝƚ ͘ϮϱͬƉĂƌĐĞů ͘ϳϵͬƵŶŝƚΎ
DƵůƚŝͲĨĂŵŝůǇƵƉƚŽϮϬƵŶŝƚƐ ͘ϰϱͬƵŶŝƚ ͘ϬϵͬƵŶŝƚ ͘ϮϱͬƉĂƌĐĞů ͘ϱϰͬƵŶŝƚ н͘ϮϱͬƉĂƌĐĞů DƵůƚŝͲĨĂŵŝůǇŵŽƌĞƚŚĂŶϮϬƵŶŝƚƐ ͘ϰϱͬƵŶŝƚ ϭ͘ϴϬͬƉĂƌĐĞů ͘ϮϱͬƉĂƌĐĞů ͘ϰ ϱͬƵŶŝƚнϮ͘ϬϱͬƉĂƌĐĞů sĂĐĂŶƚŵŝŶŝŵƵŵϳ͕ϮϬϬƐĨ ͘ϬϬͬϳ͕ϮϬϬƐĨ ͘ϮϱͬƉĂƌĐĞů ͘ϮϱͬƉĂƌĐĞů ͘ϱϬͬƉĂƌĐĞ ů sĂĐĂŶƚϳ͕ϮϬϬƚŽϭϰϰ͕ϬϬϬƐĨ ͘ϬϬͬϳ͕ϮϬϬƐĨ ͘Ϯϱͬϳ͕ϮϬϬƐĨ ͘ϮϱͬƉĂƌĐĞů ͘Ϯϱͬϳ ͕ϮϬϬƐĨн͘ϮϱͬƉĂƌĐĞů sĂĐĂŶƚŵĂǆŝŵƵŵхϭϰϰ͕ϬϬϬƐĨ ͘ϬϬͬϳ͕ϮϬϬƐĨ ϱ͘ϬϬͬƉĂƌĐĞů ͘ϮϱͬƉĂƌĐĞů ϱ͘Ϯϱ ͬƉĂƌĐĞů ΎdŽƚĂůhΖƐƐŚŽǁŶĂƌĞĂƐƐƵŵŝŶŐƚŚĞƌĞŝƐŽŶůǇϭƵŶŝƚŽŶƚŚĞƉĂƌĐĞů d>
ϯͲ>K>>/',d/E'
E
&/d&dKZ^
^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϯϴϰ Ϯϴϰ Ϯϳϴ͘ϬϬ ϲ͘ϬϬ Ϯϴϰ͘ϬϬϬ
ŽŶĚŽŵŝŶŝƵŵ ϱϮ ϱϮ ϰϭ͘Ϭϴ Ϭ͘ϬϬ ϰϭ͘ϬϴϬ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭϯ Ϯϲ ϭϳ͘Ϯϵ Ϭ͘ϬϬ ϭϳ͘ϮϵϬ
sĂĐĂŶƚ Ϭ Ϭ Ϭ͘ϬϬ Ϭ͘ϬϬ Ϭ͘ϬϬϬ
ϯϰϵ ϯϲϮ Ϭ ϯϯϲ͘ϯϳ ϲ͘ϬϬ ϯϰϮ͘ϯϳϬ
d>
ϰͲ>K>>/',d/E'^^
^^D
EdhE/d^hDDZz
dŽƚĂůƐ
dŽƚĂůhΖƐWĂƌĐĞůƐ ǁĞůůŝŶŐƐ ^ƋƵĂƌĞ&ƚ>ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ ŽŶĞϮhΖƐ ŽŶĞϭhΖƐ ͬ ϯϰϮ͘ϯϳϬ hΖƐ с Ψϭϳ͘ϳϰ ͬhΨϲ͕Ϭϳϯ͘ϲϰ
60 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϬ

ƉĞƌƉĂƌĐĞůďĞŶĞĨŝƚƉŽŝŶƚ͘sĂĐĂŶƚƉĂƌĐĞůƐĂƌĞĂƐƐŝŐŶĞĚϬ͘ϮϱďĞŶ ĞĨŝƚƉŽŝŶƚƐƉĞƌƉĂƌĐĞů͕ďĂƐĞĚŽŶƚŚĞĐŽƌĞ ďĞŶĞĨŝƚĂƚƚƌŝďƵƚĂďůĞƚŽĞǀĞƌǇĂƐƐĞƐƐĂďůĞƉĂƌĐĞůŝŶƚŚĞŝƐƚƌŝĐƚĨƌŽŵƌƚĞƌŝĂů>ŝŐŚƚŝŶŐ͘ dĂďůĞ ϱ ƐŚŽǁƐ ƚŚĞ ďƌĞĂŬĚŽǁŶ ŽĨ ƚŚĞ ƐƐĞƐƐŵĞŶƚ hŶŝƚƐ ĂƐƐŝŐŶĞĚ ƚŽ ĞĂĐŚ ůĂŶĚ ƵƐĞ ĨŽƌ Ăůů ĂƐƐĞƐƐĂďůĞ ƉƌŽƉĞƌƚǇŝŶƚŚĞŝƐƚƌŝĐƚ͘

dĂďůĞϲƉƌŽǀŝĚĞƐĂƐƵŵŵĂƌǇŽĨĂƐƐĞƐƐŵĞŶƚƵŶŝƚƐĨŽƌƚŚĞĚŝĨĨĞƌĞŶƚůĂŶĚƵƐĞƐĨŽƌĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐďĞŶĞĨŝƚ͘

dŚĞƌĂƚĞƉĞƌhŝƐĐĂůĐƵůĂƚĞĚďǇĚŝǀŝĚŝŶŐƚŚĞƚŽƚĂůďƵĚŐĞƚĂŵŽƵŶƚďǇƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨhΖƐ͗

ŝƐƚƌŝĐƚ
ŶŐŝŶĞĞƌŝŶŐŽƐƚƐ
ŝƐƚƌŝĐƚ
ŶŐŝŶĞĞƌŝŶŐ ŽƐƚƐ ŝŶĐůƵĚĞ ůĞŐĂů͕ ĂƐƐĞƐƐŵĞŶƚ ĞŶŐŝŶĞĞƌŝŶŐ͕ ĂŶĚ ŽƚŚĞƌ ĞŶŐŝŶĞĞƌŝŶŐ ƌĞůĂƚĞĚ ĐŽƐƚƐ ŶĞĐĞƐƐĂƌǇƚŽĂĐŚŝĞǀĞƚŚĞŝƐƚƌŝĐƚ͛ƐĐŽŵƉůŝĂŶĐĞǁŝƚŚƌƚŝĐůĞy///ŽĨƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶ͘ůůƉĂƌĐĞůƐ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ďĞŶĞĨŝƚ ĨƌŽŵ ƚŚĞ ŝƐƚƌŝĐƚ
ŶŐŝŶĞĞƌŝŶŐ ŽƐƚƐ͘
ĂĐŚ ƉĂƌĐĞů ŝŶ ƚŚĞ ǌŽŶĞ ŝƐ ĂůůŽĐĂƚĞĚ Ă
ƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨƚŚĞŝƐƚƌŝĐƚ
ŶŐŝŶĞĞƌŝŶŐŽƐƚďĂƐĞĚŽŶŝƚƐĂƐƐŝŐŶĞĚďĞŶĞĨŝƚƉŽŝŶƚƐ͘
dŽƚĂůƐƐĞƐƐŵĞŶƚ
dŚĞƚŽƚĂůĂƐƐĞƐƐŵĞŶƚĨŽƌĞĂĐŚƉĂƌĐĞůŝƐƚŚĞƐƵŵŽĨŝƚƐĂƐƐĞƐƐŵĞ ŶƚĨŽƌůŽĐĂůĂŶĚĂƌƚĞƌŝĂůůŝŐŚƚŝŶŐ͘dĂďůĞϳ ƐƵŵŵĂƌŝǌĞƐƚŚĞ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲĂƐƐĞƐƐŵĞŶƚƌĂƚĞƐĨŽƌƚŚĞǀĂƌŝŽƵƐůĂŶĚƵƐĞƐŝŶŽŶĞƐϭĂŶĚϮ͘ >ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ dŽƚĂůhΖƐ
^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů;^&ZͿ ϭ͘ϬϬͬƵŶŝƚ
ŽŶĚŽŵŝŶŝƵŵ Ϭ͘ϴϱͬƵŶŝƚ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϭ͘ϵϱͬƵŶŝƚ
sĂĐĂŶƚ Ϭ͘ϮϱͬƉĂƌĐĞů
d>
ϱͲZd
Z/>>/',d/E'
E
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^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϯϳϴ Ϯϳϴ Ϯϳϴ͘ϬϬϬ Ϭ͘ϬϬϬ Ϯϳϴ͘ϬϬϬ ŽŶĚŽŵŝŶŝƵŵ ϱϮ ϱϮ ϰϰ͘ϮϬϬ Ϭ͘ϬϬϬ ϰϰ͘ϮϬϬ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭϯ Ϯϲ Ϯϰ͘ϳϬϬ Ϭ͘ϬϬϬ Ϯϰ͘ϳϬϬ
sĂĐĂŶƚ Ϭ Ϭ Ϭ͘ϬϬϬ Ϭ͘ϬϬϬ Ϭ͘ϬϬϬ
ϯϰϯ ϯϱϲ Ϭ ϯϰϲ͘ϵϬϬ Ϭ͘ϬϬϬ ϯϰϲ͘ϵϬϬdŽƚĂůƐ
dŽƚĂůhΖƐ
d>
ϲͲZd
Z/>>/',d/E'^^
^^D
EdhE/d^hDDZz
WĂƌĐĞůƐ ǁĞůůŝŶŐƐ ^ƋƵĂƌĞ&ƚ>ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ Ž ŶĞϭhΖƐ ŽŶĞϮhΖƐ Ψϯ͕ϴϬϱ͘ϰϵ ͬ ϯϰϲ͘ϵϬϬ hΖƐ с ΨϭϬ͘ϵϳ ͬh
61 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐŝƐƚƌŝĐƚEŽ͘ϵϵͲϭ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϭ

ŽŶĞϮ
^ŝŶŐůĞͲĨĂŵŝůǇ
ZĞƐŝĚĞŶƚŝĂů
ŽŶĚŽƐͬ
dŽǁŶŚŽŵĞƐ
DƵůƚŝͲĨĂŵŝůǇ
ZĞƐŝĚĞŶƚŝĂůϭ sĂĐĂŶƚϮ
^ŝŶŐůĞͲĨĂŵŝůǇ
ZĞƐŝĚĞŶƚŝĂů
ƐƐĞƐƐŵĞŶƚ ƉĞƌƉĂƌĐĞů ƉĞƌƵŶŝƚ Ɖ ĞƌƵŶŝƚ ƉĞƌƉĂƌĐĞů ƉĞƌƉĂƌĐĞů >ŽĐĂů Ψϭϳ͘ϳϰ Ψϭϰ͘Ϭϭ Ψϵ͘ϱϴ Ψϰ͘ϰϰ Ψϭϳ͘ϳϰ
нΨϰ͘ϰϰƉĞƌ
ƉĂƌĐĞů
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ƌƚĞƌŝĂů ΨϭϬ͘ϵϳ Ψϵ͘ϯϮ ΨϭϬ͘ϰϮ ΨϮ͘ϳϰ Eͬ
dŽƚĂů ΨϮϴ͘ϳϭ ΨϮϯ͘ϯϯ sĂƌŝĞƐ sĂƌŝĞƐ Ψϭϳ͘ϳϰ
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62 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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ϭϮ

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dŚĞƐƐĞƐƐŵĞŶƚŝĂŐƌĂŵ͕ǁŚŝĐŚƐŚŽǁƐƚŚĞĞǆƚĞƌŝŽƌďŽƵŶĚĂƌŝĞƐŽĨƚŚĞƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ͕ƚŚĞďŽƵŶĚĂƌŝĞƐ ŽĨĂŶǇǌŽŶĞƐǁŝƚŚŝŶƚŚĞƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚĂŶĚƚŚĞůŝŶĞƐĂŶĚĚ ŝŵĞŶƐŝŽŶƐŽĨĞĂĐŚůŽƚŽƌƉĂƌĐĞůŽĨůĂŶĚ ǁŝƚŚŝŶ ƚŚĞ ƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ͕ ŝƐŽ Ŷ Ĩ ŝ ů Ğ ŝ Ŷ ƚ Ś Ğ Ž Ĩ Ĩ ŝ Đ Ğ Ɛ Ž Ĩ ƚ ŚĞ ŝƚǇ ŶŐŝŶĞĞƌ ĂŶĚ ƚŚĞ ŝƚǇ ůĞƌŬ ĂŶĚ ŝƐ
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63 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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ϭϯ

64 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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65 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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66 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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67

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68 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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69 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
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ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ;͞ZĞƉŽƌƚ͟ͿŝƐ ŝŶĐŽŶĨŽƌŵĂŶĐĞǁŝƚŚƚŚĞŽďůŝŐĂƚŝŽŶŽĨƚŚĞ ŝƚǇŽƵŶĐŝůĨŽƌƚŚĞĂŶŶƵĂůůĞǀǇŽĨĂƐƐĞƐƐŵĞŶƚƐǁŝƚŚŝŶƚŚĞWĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚŽĨƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ 'ƌŽǀĞƚŽƉƌŽǀŝĚĞƉĂƌŬŵĂŝŶƚĞŶĂŶĐĞƐĞƌǀŝĐĞƐƵƉŽŶĞĂĐŚůŽƚŽƌƉĂƌĐĞůŽĨůĂŶĚŝŶƚŚĞĚŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶƚŽ ƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨŝƚƚŽďĞƌĞĐĞŝǀĞĚďǇĞĂĐŚƐƵĐŚůŽƚŽƌƉĂƌĐĞů ŽĨůĂŶĚĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ͘^ĞƌǀŝĐĞƐ ǁŝůůďĞƉƌŽǀŝĚĞĚƚŚƌŽƵŐŚ:ƵŶĞϯϬ͕ϮϬϮϲ͘
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ƚŚĞĨŽůůŽǁŝŶŐZĞƉŽƌƚǁŚŝĐŚĐŽŶƐŝƐƚƐŽĨƚŚĞĨŽůůŽǁŝŶŐĨŽƵƌ;ϰͿƉĂƌƚƐĂŶĚƉƉĞŶĚŝĐĞƐ͗ WZd/
KǀĞƌǀŝĞǁ͗WƌŽǀŝĚĞƐƚŚĞďĂĐŬŐƌŽƵŶĚĂŶĚƌĞĂƐŽŶĨŽƌƚŚĞŝƐƚƌŝĐƚ͘ WZd//
WůĂŶƐĂŶĚ^ƉĞĐŝĨŝĐĂƚŝŽŶƐ͗WůĂŶƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌƚŚĞĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞŝŵƉƌŽǀ ĞŵĞŶƚƐĂƌĞĂƐƐĞƚ Ĩ Ž ƌ ƚ Ś Ž Ŷ ƚ Ś Ğ ů ŝ Ɛ ƚ Ɛ ƚ Ś Ğ ƌ Ğ Ž Ĩ ͕ Ă ƚ ƚ Ă Đ Ś Ğ Ě Ś Ğ ƌ Ğ ƚ Ž ͕ Ă Ŷ Ě Ă ƌ Ğ Ž Ŷ Ĩ ŝ ů Ğ ŝ Ŷƚ Ś Ğ K Ĩ Ĩ ŝ Đ Ğ Ž Ĩ ƚ Ś Ğ ŝ ƚ Ǉ ů Ğ ƌ Ŭ Ă Ŷ Ě Ă ƌ Ğ ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘

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ŽƐƚ
ƐƚŝŵĂƚĞ͗ŶĞƐƚŝŵĂƚĞŽĨƚŚĞĐŽƐƚƐŽĨƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚͬŽƌƐĞƌǀŝĐŝŶŐŽĨƚŚĞĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞ ŝŵƉƌŽǀĞŵĞŶƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ͕ŝŶĐůƵĚŝŶŐŝŶĐŝĚĞŶƚĂůĐŽƐƚƐĂŶĚĞǆƉĞŶƐĞƐŝŶĐŽŶŶĞĐƚŝŽŶƚŚĞƌĞǁŝƚŚ͘ WZd/s
DĞƚŚŽĚ ŽĨ ƉƉŽƌƚŝŽŶŵĞŶƚ͗ dŚĞ ŵĞƚŚŽĚ ŽĨ ĂƉƉŽƌƚŝŽŶŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚƐ ŝŶĚŝĐĂƚĞƐ ƚŚĞ ƉƌŽƉŽ ƐĞĚ ĂƐƐĞƐƐŵĞŶƚ ŽĨ ƚŚĞ ŶĞƚ ĂŵŽƵŶƚ ŽĨ ƚŚĞ ĐŽƐƚƐ ĂŶĚ ĞǆƉĞŶƐĞƐ ŽĨ ƚŚĞ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚͬŽƌ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚŚĞ ĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞĂƐƐĞƐƐĞĚƵƉŽŶƚŚĞƐĞǀĞ ƌĂůůŽƚƐĂŶĚƉĂƌĐĞůƐŽĨůĂŶĚǁŝƚŚŝŶƚŚĞ ƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚƐƉĞĐŝĂůďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇƐƵĐŚůŽƚƐĂŶĚƉĂƌĐĞůƐ͘ ƉƉĞŶĚŝĐĞƐ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚŝĂŐƌĂŵ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚZŽůů

/ŶĐŽŶĐůƵƐŝŽŶ͕ŝƚŝƐŵǇŽƉŝŶŝŽŶ ƚŚĂƚƚŚĞĐŽƐƚƐĂŶĚĞǆƉĞŶƐĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚŚĂǀĞďĞĞŶĂƐƐĞƐƐĞĚƚŽƚŚĞůŽƚƐ ĂŶĚƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƚŚĞŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶ ƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚ ďǇĞĂĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚĂŶĚŝŶĐŽŶĨŽƌŵ ĂŶĐĞǁŝƚŚƚŚĞĂƐƐĞƐƐŵĞŶƚŵĞƚŚŽĚŽůŽŐǇ ĂĚŽƉƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĨŽƌƚŚĞůĞǀǇŝŶŐŽĨĂƐƐĞƐƐŵĞŶƚƐ͘ d
͗Ɖƌŝůϭϳ͕ϮϬϮϱ

ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ů ŝ Ɛ Ž Ŷ Ž Ƶ ů Ğ Ǉ ͕ W ͘
͘ ͕ Ɛ Ɛ Ğ Ɛ Ɛ ŵ Ğ Ŷ ƚ
Ŷ Ő ŝ Ŷ Ğ Ğ ƌ
Z ͘ ͘
͘ E Ž ͘ ϲϭϯϴϯ

Ŷ Ő ŝ Ŷ Ğ Ğ ƌ Ž Ĩ t Ž ƌ Ŭ
Ž Ƶ Ŷ ƚ Ǉ Ž Ĩ K ƌ Ă Ŷ Ő Ğ
^ ƚ Ă ƚ Ğ Ž Ĩ Ă ů ŝ Ĩ Ž ƌ Ŷ ŝ Ă

71 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭ

WZd/ʹKs
Zs/
t
dŚŝƐZĞƉŽƌƚĂƐĨŝůĞĚĐŽŵƉůŝĞƐǁŝƚŚƌƚŝĐůĞƐy///ĂŶĚy///ŽĨƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶĂŶĚƚŚĞ>ĂŶĚƐĐĂƉŝŶŐ ĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͘ůƐŽ͕ƉĂƌƚŽĨƚŚŝƐƌĞƉŽƌƚ͕ďƵƚŶŽƚďŽƵŶĚŚĞƌĞŝŶ͕ŝƐƚŚĞĂƐƐĞƐƐŵĞŶƚƌŽůůŽŶĨŝůĞǁŝƚŚ ƚŚĞŝƚǇůĞƌŬǁŚŝĐŚŝŶĚŝĐĂƚĞƐĞĂĐŚƉƌŽƉĞƌƚǇ͛ƐŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞWĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚĂƐƐĞƐƐŵĞŶƚ ĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ͘
/ŶŽƌĚĞƌƚŽĐŽŵƉůǇǁŝƚŚƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨƌƚŝĐůĞy///ĂŶĚy ///ŽĨƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶŝŶ&ŝƐĐĂů zĞĂƌϭϵϵϳͲϵϴ͕ƚŚĞŝƚǇŽƵŶĐŝůŽƌĚĞƌĞĚĂŶ
ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚƚŚĂ ƚĐŽŵƉůŝĞĚǁŝƚŚƚŚĞŶĞǁďĞŶĞĨŝƚĂŶĂůǇƐŝƐ ƌĞƋƵŝƌĞŵĞŶƚƐƉƵƌƐƵĂŶƚƚŽWƌŽƉŽƐŝ ƚŝŽŶϮϭϴĂŶĚƐƵďŵ ŝƚƚĞĚƚŚĞŝƐƚ ƌŝĐƚ͛ƐĂƐƐĞƐƐŵĞŶƚƐƚŽƉƌŽƉĞƌƚǇŽǁŶĞƌƐ ǀŝĂŵĂŝůĞĚďĂůůŽƚǁŚŝĐŚƉĂƐƐĞĚďǇĂŵĂũŽƌŝƚǇǀŽƚĞďƵƚĚŝĚŶŽƚŝŶĐůƵĚĞĂŶĂŶŶƵĂůĞƐĐĂůĂƚŽƌ͘dŚĞŶĞǁŝƐƚƌŝĐƚ ǁĂƐĨŽƌŵĞĚƚŽĨƵŶĚƉĂƌŬŵĂŝŶƚĞŶĂŶĐĞ͕ĂƐŵŽƌĞƚŚŽƌŽƵŐŚůǇĚĞƐĐƌŝďĞĚŝŶƚŚŝƐZĞƉŽƌƚ͘ ^ƚĂƌƚŝŶŐ&ŝƐĐĂůzĞĂƌϮϬϮϬͲϮϭ͕ƚŚĞŝƚǇĂĚĚĞĚĨŽƵƌƉĂƌŬƐƚŽƚŚĞůŝƐƚŽĨƉĂƌŬƐďĞŝŶŐŵĂŝŶƚĂŝŶĞĚ͘dŚĞǇĂƌĞ͗ &ĂǇůĂŶĞWĂƌŬ
'ƵƚŽƐŬǇWĂƌŬ
:ĂƌĚŝŶĞ>ŽƐEŝŶŽƐWĂƌŬ
^ƉŝƌŝƚŽĨϳϲDŝŶŝWĂƌŬ
dŚĞ WĂƌŬ DĂŝŶƚĞŶĂŶĐĞ ŝƐƚƌŝĐƚ ĂƐƐĞƐƐŵĞŶƚ ĨŽƌ ƚŚĞ &ŝƐĐĂů zĞĂƌ ϮϬϮϱͲϮϲ ŝƐ ƉƌŽƉŽƐĞĚ ƚŽ ƚŽƚĂů ΨϳϭϬ͕ϵϴϴ͘ hŶĚĞƌ ƚŚĞ ƉƌŽƉŽƐĞĚ &ŝƐĐĂů zĞĂƌ ϮϬϮϱͲϮϲ WĂƌŬ DĂŝŶƚĞŶĂŶĐĞ ŝƐƚƌŝĐƚ ͕ ƚ Ś Ğ ƚ Ǉ Ɖ ŝ Đ Ă ů Ś Ž ŵ Ğ Ž ǁ Ŷ Ğ ƌ ǁ ŝ ů ů Ɖ Ă Ǉ Ψϭϯ͘ϳϱ͕ǁŚŝĐŚƌĞƉƌĞƐĞŶƚƐƚŚĞŝƌƉƌŽƉŽƌƚŝŽŶĂůƐƉĞĐŝĂůďĞŶĞĨŝƚĨŽƌƚŚĞĐŽƐƚŽĨŵĂŝŶƚĂŝŶŝŶŐĐŽŵŵƵŶŝƚǇƉĂƌŬƐ͘ &ŽƌƚŚĞ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ͕ƚŚĞĂƐƐĞƐƐŵĞŶƚƐǁŝůůďĞůĞǀŝĞĚĂƚ ƚŚĞƐĂŵĞƌĂƚĞĂŶĚŵĞƚŚŽĚĂƐůĞǀŝĞĚůĂƐƚ ǇĞĂƌ͘dŚĞĞƐƚŝŵĂƚĞĚĨƵŶĚďĂůĂŶĐĞĂƚƚŚĞĞŶĚŽĨ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲŝƐĞǆƉĞĐƚĞĚƚŽďĞǌĞƌŽ͘

72 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

Ϯ

ƵƌƌĞŶƚ&ŝŶĂŶĐŝĂů^ƵŵŵĂƌǇ

ϭ^ĞĞƚŚĞĨŽŽƚŶŽƚĞƐďĞůŽǁdĂďůĞϭͲ&hE/E'zKDDhE/dzWZ<ŽŶƉĂŐĞϵĨŽƌƚŚĞ'ĞŶĞƌĂůĞŶĞĨŝƚĐĂůĐƵůĂƚŝŽŶ͘ ϮƐƐĞƐƐŵĞŶƚ^ŚŽƌƚĨĂůůĞƋƵĂůƐƚŚĞdŽƚĂůƐƐĞƐƐĂďůĞŽƐƚĨƌŽŵdĂďů ĞϭͲ&hE/E'zKDDhE/dzWZ<ŽŶƉĂŐĞ ϵůĞƐƐ
ƐƚŝŵĂƚĞĚƐƐĞƐƐŵĞŶƚZĞǀĞŶƵĞ͘
ϯdŽƚĂůŽƐƚƐĨƌŽŵdĂďůĞϭͲ&hE/E'zKDDhE/dzWZ<͘ EKd
͗ƚŚĞŵŽƵŶƚƐƐŚŽǁŶŝŶƚŚĞƚĂďůĞĂďŽǀĞŚĂǀĞďĞĞŶƌŽƵŶĚĞĚƚŽǁŚŽůĞŶƵŵďĞƌƐĂŶĚŵĂǇďĞŽĨĨ ƐůŝŐŚƚůǇĚƵĞƚŽƌŽƵŶĚŝŶŐ

ĚŽƉƚĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϰͲϮϱ
WƌŽƉŽƐĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϱͲϮϲ
Z
s
Eh
^
hŶĐŽŵŵŝƚƚĞĚ&ƵŶĚĂůĂŶĐĞ;ĂƐŽĨ:ƵůǇϭͿ ΨϬ ΨϬ
ŝƚǇ'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶ͗
'ĞŶĞƌĂůĞŶĞĨŝƚϭ Ψϭ͕Ϭϯϲ͕ϭϬϬ Ψϭ͕Ϭϱϱ͕Ϯϳϯ
ƐƐĞƐƐŵĞŶƚ^ŚŽƌƚĨĂůůϮ Ψϭ͕ϯϵϮ͕ϵϯϯ Ψϭ͕ϰϯϭ͕ϱϰϬ
dŽƚĂůŝƚǇŽŶƚƌŝďƵƚŝŽŶ ΨϮ͕ϰϮϵ͕Ϭϯϯ ΨϮ͕ϰϴϲ͕ϴϭϯ
ƐƐĞƐƐŵĞŶƚZĞǀĞŶƵĞ ΨϳϭϬ͕ϲϲϳ ΨϳϭϬ͕ϵϴϴ
dŽƚĂůWĂƌŬDĂŝŶƚĞŶĂŶĐĞZĞǀĞŶƵĞƐ Ψϯ͕ϭϯϵ͕ϳϬϬ Ψϯ͕ϭϵϳ͕ϴϬϭ

yW
E^
^
KƉĞƌĂƚŝŶŐ͕
ŶŐŝŶĞĞƌŝŶŐĂŶĚ/ŶĐŝĚĞŶƚĂů
ǆƉĞŶƐĞƐϯ Ψϯ͕ϭϯϵ͕ϳϬϬ Ψϯ͕ϭϵϳ͕ϴϬϭ
dŽƚĂůWĂƌŬDĂŝŶƚĞŶĂŶĐĞ
ǆƉĞŶƐĞƐ Ψϯ͕ϭϯϵ͕ϳϬϬ Ψϯ͕ϭϵϳ͕ϴϬϭ
hŶĐŽŵŵŝƚƚĞĚ&ƵŶĚĂůĂŶĐĞ;ĂƐŽĨ:ƵŶĞϯϬͿ ΨϬ ΨϬ
dŽƚĂůŝƚǇŽŶƚƌŝďƵƚŝŽŶ ΨϮ͕ϰϮϵ͕Ϭϯϯ ΨϮ͕ϰϴϲ͕ϴϭϯ
dŽƚĂůdŽƐƐĞƐƐŵĞŶƚ ΨϳϭϬ͕ϲϲϳ ΨϳϭϬ͕ϵϴϴ
73 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϯ

WZd//ʹW>E^E^W
/&/d/KE^
dŚĞ ĨĂĐŝůŝƚŝĞƐ͕ ǁŚŝĐŚ ŚĂǀĞ ďĞĞŶ ĐŽŶƐƚƌƵĐƚĞĚ ǁŝƚŚŝŶ ƚŚĞ ŝƚǇ ŽĨ'ĂƌĚĞŶ 'ƌŽǀĞ͕ ĂŶĚ ƚŚŽƐĞ ǁŚŝĐŚ ŵĂǇ ďĞ ƐƵďƐĞƋƵĞŶƚůǇĐŽŶƐƚƌƵĐƚĞĚ͕ǁŝůůďĞƐĞƌǀŝĐĞĚĂŶĚŵĂŝŶƚĂŝŶĞĚĂƐŐĞŶĞƌĂůůǇĚĞƐĐƌŝďĞĚĂƐĨŽůůŽǁƐ͗ dŚĞŝƚǇĐƵƌƌĞŶƚůǇĨƵŶĚƐƚŚĞŽƉĞƌĂƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůŝŵƉƌŽǀĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐ ƉĂƌŬĂŶĚŐƌŽƵŶĚƐŵĂŝŶƚĞŶĂŶĐĞ͕ĨŽƌϭϵĐŽŵŵƵŶŝƚǇƉĂƌŬƐ͘dŚĞŝƚǇ ͛ƐƉĂƌŬƐǇƐƚĞŵƉƌŽǀŝĚĞƐĨŽƌĂƵŶŝĨŽƌŵ ĚŝƐƚƌŝďƵƚŝŽŶŽĨŐƌĞĞŶĂƌĞĂĂŶĚƌĞĐƌĞĂƚŝŽŶĨĂĐŝůŝƚŝĞƐƚŚƌŽƵŐŚŽƵƚ ƚŚĞŝƐƚƌŝĐƚ͛ƐďŽƵŶĚĂƌǇ͘ ĂĐŚƉƌŽƉĞƌƚǇŝŶ
ƚŚĞŝƐƚƌŝĐƚŝƐǁŝƚŚŝŶĐůŽƐĞƉƌŽǆŝŵŝƚǇŽĨĂƉĂƌŬĨĂĐŝůŝƚǇĂŶĚƐ ƉĞĐŝĂůůǇďĞŶĞĨŝƚƐĨƌŽŵƚŚĞĂǀĂŝůĂďŝůŝƚǇŽĨƚŚĞƐĞ ŝŵƉƌŽǀĞŵĞŶƚƐ͘
dŚĞĞǆŝƐƚŝŶŐƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐƚŽďĞŵĂŝŶƚĂŝŶĞĚ ĂŶĚƐĞƌǀŝĐĞĚĂƌĞůŽĐĂƚĞĚŝŶƚŚĞĨŽůůŽǁŝŶŐ ƉĂƌŬƐ͗

dŚĞŝƐƚƌŝĐƚǁŝůůĨƵŶĚĐŽƐƚƐŝŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚƚŚĞŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚƐĞƌǀŝĐŝŶŐŽĨƚŚĞƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶ ĨĂĐŝůŝƚŝĞƐŝŶĐůƵĚŝŶŐ͕ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƉĞƌƐŽŶŶĞů͕ĞůĞĐƚƌŝĐĂůĞŶĞƌŐǇ͕ǁĂƚĞƌ͕ŵĂƚĞƌŝĂůƐ͕ĐŽŶƚƌĂĐƚŝŶŐƐĞƌǀŝĐĞƐ͕ ĂŶĚŽƚŚĞƌĞǆƉĞŶƐĞƐŶĞĐĞƐƐĂƌǇĨŽƌƚŚĞƐĂƚŝƐĨĂĐƚŽƌǇŽƉĞƌĂƚŝŽŶŽĨƚŚĞƐĞĨĂĐŝůŝƚŝĞƐ͘dŚĞĨĂĐŝůŝƚŝĞƐĂƌĞĚĞƐĐƌŝďĞĚ ĂƐĨŽůůŽǁƐ͗
WĂƌŬƐĂŶĚZĞĐƌĞĂƚŝŽŶĂů&ĂĐŝůŝƚŝĞƐ
WĂƌŬ ĂŶĚ ƌĞĐƌĞĂƚŝŽŶĂů ĨĂĐŝůŝƚŝĞƐ ŝŶĐůƵĚĞ͕ ďƵƚ ĂƌĞ ŶŽƚ ůŝŵŝƚĞĚ ƚ Ž͗ ůĂŶĚƐĐĂƉŝŶŐ͕ ůŝŐŚƚƐ͕ ĂƚŚůĞƚŝĐ ĨŝĞůĚƐ͕ ƉůĂǇŐƌŽƵŶĚƐ͕ƉůĂǇŐƌŽƵŶĚĞƋƵŝƉŵĞŶƚ͕ƉƵďůŝĐƌĞƐƚƌŽŽŵƐ͕ƉĂƌŬĨƵƌŶŝ ƚƵƌĞ͕ƐŝƚĞĂŵĞŶŝƚŝĞƐ͕ĂŶĚĂƉƉƵƌƚĞŶĂŶƚ ĨĂĐŝůŝƚŝĞƐǁŚŝĐŚĂƌĞůŽĐĂƚĞĚǁŝƚŚŝŶƚŚĞƉƵďůŝĐƉĂƌŬƐǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƚŚĞƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ͘ >ĂŶĚƐĐĂƉŝŶŐĂŶĚƉƉƵƌƚĞŶĂŶƚ&ĂĐŝůŝƚŝĞƐ
&ĂĐŝůŝƚŝĞƐ ŝŶĐůƵĚĞ ďƵƚ ĂƌĞ ŶŽƚ ůŝŵŝƚĞĚ ƚŽ͗ >ĂŶĚƐĐĂƉŝŶŐ͕ ƉůĂŶƚŝŶ Ő͕ ƐŚƌƵďďĞƌǇ͕ ƚƌĞĞƐ͕ ŝƌƌŝŐĂƚŝŽŶ ƐǇƐƚĞŵƐ͕ ŚĂƌĚƐĐĂƉĞƐ͕ĨŝǆƚƵƌĞƐ͕ƐŝĚĞǁĂůŬƐĂŶĚĂƉƉƵƌƚĞŶĂŶƚĨĂĐŝůŝƚŝĞƐ͘ $WODQWLV3DUN *XWRVN\3DUN
7ZLQ/DNHV3DUN
&KDSPDQ6SRUWV&RPSOH[ +DUH6FKRRO3DUN 9LOODJH*UHHQ3DUN &LYLF&HQWHU&RPSOH[ -DUGLQ'H/RV1LQRV3DUN
:HVW*URYH3DUN
(DVWJDWH3DUN /DNH6FKRRO3DUN :HVW+DYHQ3DUN
(GJDU3DUN 0DJQROLD3DUN :RRGEXU\3DUN
)D\ODQG3DUN
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74 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϰ

>ŝŐŚƚŝŶŐĂŶĚƉƉƵƌƚĞŶĂŶƚ&ĂĐŝůŝƚŝĞƐ
&ĂĐŝůŝƚŝĞƐŝŶĐůƵĚĞďƵƚĂƌĞŶŽƚůŝŵŝƚĞĚƚŽ͗WŽůĞƐ͕ĨŝǆƚƵƌĞƐ͕ďƵůďƐ͕ĐŽŶĚƵŝƚƐ͕ĐŽŶĚƵĐƚŽƌƐ͕ĞƋƵŝƉŵĞŶƚŝŶĐůƵĚŝŶŐ ŐƵǇƐ͕ĂŶĐŚŽƌƐ͕ƉŽƐƚƐĂŶĚƉĞĚĞƐƚĂůƐ͕ŵĞƚĞƌŝŶŐĚĞǀŝĐĞƐĂŶĚĂƉƉƵƌƚ ĞŶĂŶƚĨĂĐŝůŝƚŝĞƐĂƐƌĞƋƵŝƌĞĚƚŽƉƌŽǀŝĚĞ ůŝŐŚƚŝŶŐ͘
DĂŝŶƚĞŶĂŶĐĞ ŵĞĂŶƐ ƚŚĞ ĨƵƌŶŝƐŚŝŶŐ ŽĨ ƐĞƌǀŝĐĞƐ ĂŶĚ ŵĂƚĞƌŝĂůƐ ĨŽƌ ƚŚĞ ŽƌĚŝŶĂƌǇ ĂŶĚ ƵƐƵĂů ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚŚĞ ƉĂƌŬ ĂŶĚ ƌĞĐƌĞĂƚŝŽŶĂů ĨĂĐŝůŝƚŝĞƐ ĂŶĚ ĂƉƉƵƌƚĞŶĂŶƚ ĨĂĐŝůŝƚŝĞƐ͕ ŝŶĐůƵĚŝŶŐ͗ ƌĞƉĂŝƌ͕ƌĞŵŽǀĂůŽƌƌĞƉůĂĐĞŵĞŶƚŽĨ ĂůůŽƌƉĂƌƚŽĨĂŶǇŽĨƚŚĞƉĂƌ ŬĂŶĚƌĞĐƌĞĂƚŝŽŶĨĂĐŝůŝƚŝĞƐŽƌĂƉƉƵƌƚĞŶĂŶƚ ĨĂĐŝůŝƚŝĞƐ͖ ƉƌŽǀŝĚŝŶŐ ĨŽƌ ƚŚĞ ůŝĨĞ͕ ŐƌŽǁƚŚ͕ ŚĞĂůƚŚ ĂŶĚ ďĞĂƵƚǇ ŽĨ ƚŚĞ ůĂŶĚƐĐĂƉŝŶŐ͕ ŝŶĐůƵĚŝŶŐ ĐƵůƚŝǀĂƚŝŽŶ͕ ŝƌƌŝŐĂƚŝŽŶ͕ ƚƌŝŵŵŝŶŐ͕ ƐƉƌĂǇŝŶŐ͕ ĨĞƌƚŝůŝǌŝŶŐ ĂŶĚ ƚƌĞĂƚŝŶŐ ĨŽƌ ĚŝƐ Ğ Ă Ɛ Ğ Ž ƌ ŝ Ŷ ũ Ƶ ƌ Ǉ ͖ ƚ Ś Ğ ƌ Ğ ŵ Ž ǀ Ă ů Ž Ĩ ƚ ƌ ŝ ŵ ŵ ŝ Ŷ Ő Ɛ ͕ ƌƵďďŝƐŚ͕ĚĞďƌŝƐĂŶĚŽƚŚĞƌƐŽůŝĚǁĂƐƚĞ͖ĂŶĚƚŚĞĐůĞĂŶŝŶŐ͕ƐĂŶĚďůĂƐƚŝŶŐĂŶĚƉĂŝŶƚŝŶŐŽĨǁĂůůƐĂŶĚŽƚŚĞƌƉƵďůŝĐ ŝŵƉƌŽǀĞŵĞŶƚƐƚŽƌĞŵŽǀĞŽƌĐŽǀĞƌŐƌĂĨĨŝƚŝ͘
^ĞƌǀŝĐŝŶŐŵĞĂŶƐƚŚĞĨƵƌŶŝƐŚŝŶŐŽĨǁĂƚĞƌĨŽƌƚŚĞŝƌƌŝŐĂƚŝŽŶŽĨƚ ŚĞůĂŶĚƐĐĂƉŝŶŐĂŶĚƚŚĞŵĂŝŶƚĞŶĂŶĐĞŽĨĂŶǇ ŽƚŚĞƌŝŵƉƌŽǀĞŵĞŶƚƐĂŶĚƚŚĞĨƵƌŶŝƐŚŝŶŐŽĨĞůĞĐƚƌŝĐĞŶĞƌŐǇĨŽƌƚŚĞƉƵďůŝĐůŝŐŚƚŝŶŐĨĂĐŝůŝƚŝĞƐ͕ŽƌĨŽƌƚŚĞůŝŐŚƚŝŶŐ ŽƌŽƉĞƌĂƚŝŽŶŽĨĂŶǇŽƚŚĞƌŝŵƉƌŽǀĞŵĞŶƚƐ͘
dŚĞƉůĂŶƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͕ƐŚŽǁŝŶŐĂŶĚĚĞƐĐƌŝďŝŶŐƚŚĞŐĞŶĞƌĂůŶĂƚƵƌĞ͕ĂƌĞŽŶĨŝůĞ ŝŶƚŚĞŽĨĨŝĐĞŽĨƚŚĞŝƚǇ
ŶŐŝŶĞĞƌĂŶĚƚŚĞŝƚǇůĞƌŬĂŶĚĂƌĞďǇƌĞĨĞƌĞŶĐĞŚĞƌĞŝŶŵĂĚĞĂƉĂƌƚŽĨƚŚŝƐZĞƉŽƌƚ͘

75 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϱ

WZd///ʹK^d
^d/Dd

d Ś Ğ ŝ ƚ Ǉ Ζ Ɛ ď Ƶ Ě Ő Ğ ƚ Ĩ Ž ƌ ƚ Ś Ğ ŵ Ă ŝ Ŷ ƚ Ğ Ŷ Ă Ŷ Đ Ğ Ă Ŷ Ě Ɛ Ğ ƌ ǀ ŝ Đ ŝ Ŷ Ő Ž Ĩ Ɖ Ă ƌ Ŭ Ă Ŷ Ě ƌĞĐƌĞĂƚŝŽŶĂů ĨĂĐŝůŝƚŝĞƐ ĚĞƚĂŝůƐ ƚŚĞ ĞƐƚŝŵĂƚĞĚĐŽƐƚƐĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲĂƐĂǀĂŝůĂďůĞĂƚƚŚĞƚŝŵĞŽĨƉƌĞƉĂƌĂƚŝŽŶŽĨƚŚŝƐZĞƉŽƌƚ͕ĂŶĚŝŶĐůƵĚĞƐ ĞŶŐŝŶĞĞƌŝŶŐĨĞĞƐ͕ůĞŐĂůĨĞĞƐ͕ƉƌŝŶƚŝŶŐ͕ŵĂŝůŝŶŐ͕ƉŽƐƚĂŐĞ͕ƉƵďůŝ ƐŚŝŶŐ͕ĂŶĚĂůůŽƚŚĞƌƌĞůĂƚĞĚĐŽƐƚƐŝĚĞŶƚŝĨŝĞĚ ǁŝƚŚƚŚĞŝƐƚƌŝĐƚƉƌŽĐĞĞĚŝŶŐƐ͘

EŽƚĞ͗ŵŽƵŶƚƐĂďŽǀĞĂƌĞƌŽƵŶĚĞĚƚŽǁŚŽůĞŶƵŵďĞƌƐĂŶĚŵĂǇďĞŽĨĨƐůŝŐŚƚůǇĚƵĞƚŽƌŽƵŶĚŝŶŐ͘ dŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐ ƚŚĂƚĂƐƉĞĐŝĂůĨƵŶĚďĞƐĞƚƵƉĨŽƌƚŚĞƌĞǀ ĞŶƵĞƐĂŶĚ ĞǆƉĞŶĚŝƚƵƌĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚ͘ &ƵŶĚƐƌĂŝƐĞĚďǇĂƐƐĞƐƐŵĞŶƚƌĞǀĞŶƵĞƐŚĂůůďĞƵƐĞĚŽŶůǇĨŽƌƚŚĞƉ ƵƌƉŽƐĞĂƐƐƚĂƚĞĚŚĞƌĞŝŶ͘ĐŽŶƚƌŝďƵƚŝŽŶ ƚŽƚŚĞŝƐƚƌŝĐƚďǇƚŚĞŝƚǇŵĂǇďĞŵĂĚĞƚŽƌĞĚƵĐĞĂƐƐĞƐƐŵĞŶƚƐ͕ ĂƐƚŚĞŝƚǇŽƵŶĐŝůĚĞĞŵƐĂƉƉƌŽƉƌŝĂƚĞ͘ ŶǇďĂůĂŶĐĞŽƌĚĞĨŝĐŝƚƌĞŵĂŝŶŝŶŐŽŶ:ƵůǇϭŵƵƐƚďĞĐĂƌƌŝĞĚŽǀĞƌƚŽƚŚĞŶĞǆƚĨŝƐĐĂůǇĞĂƌ͘

KW
Zd/KEΘD/Ed
EE

ŽŵŵƵŶŝƚǇWĂƌŬΘZĞĐƌĞĂƚŝŽŶĂů&ĂĐŝůŝƚŝĞƐ ΨϮ͕Ϯϯϴ͕ϮϵϮ
'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶ ;Ψϭ͕ϳϰϬ͕ϲϯϴͿ
^ƵďƚŽƚĂůKƉĞƌĂƚŝŽŶΘDĂŝŶƚĞŶĂŶĐĞс Ψϰϵϳ͕ϲϱϰ

E'/E

Z/E'Θ/E/
Ed>^
ZĞŐƵůĂƌ^ĂůĂƌŝĞƐ Ψϳϴϲ͕ϱϱϱ
KǀĞƌƚŝŵĞ ΨϬ
ŽŵŵŽĚŝƚŝĞƐ ΨϮϮ͕ϯϬϬ

ƋƵŝƉŵĞŶƚWŽŽůZĞŶƚĂů Ψϰϰ͕ϴϱϯ
ŽŶƚƌĂĐƚƵĂů^ĞƌǀŝĐĞƐ ΨϭϬϱ͕ϴϬϬ
'ĞŶĞƌĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶ ;Ψϳϰϲ͕ϭϳϰͿ
^ƵďƚŽƚĂů
ŶŐŝŶĞĞƌŝŶŐΘ/ŶĐŝĚĞŶƚĂůƐс ΨϮϭϯ͕ϯϯϰ
dŽƚĂůƚŽƐƐĞƐƐŵĞŶƚс ΨϳϭϬ͕ϵϴϳ
76 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϲ

WZd/sʹD
d,KK&WWKZd/KED
Ed
'ĞŶĞƌĂů
WĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱŽĨƚŚĞ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ͕ƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͕ƉĞƌŵŝƚƐ ƚŚĞ ĞƐƚĂďůŝƐŚŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚ ĚŝƐƚƌŝĐƚƐ ďǇ ĐŝƚŝĞƐ ĨŽƌ ƚŚĞ ƉƵƌ ƉŽƐĞ ŽĨ ƉƌŽǀŝĚŝŶŐ ĐĞƌƚĂŝŶ ƉƵďůŝĐ ŝŵƉƌŽǀĞŵĞŶƚƐǁŚŝĐŚŝŶĐůƵĚĞƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƐƚƌ ĞĞƚůŝŐŚƚƐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ůĂŶĚƐĐĂƉŝŶŐ ĂŶĚƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘
^ĞĐƚŝŽŶϮϮϱϳϯ͕>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐ ŚƚŝŶŐĐƚŽĨϭϵϳϮƌĞƋƵŝƌĞƐƚŚ ĂƚŵĂŝŶƚĞŶĂŶĐĞĂƐƐĞƐƐŵĞŶƚƐďĞůĞǀŝĞĚ ĂĐĐŽƌĚŝŶŐƚŽďĞŶĞĨŝƚƌĂƚŚĞƌƚŚĂŶĂĐĐŽƌĚŝŶŐƚŽĂƐƐĞƐƐĞĚǀĂůƵĞ͘dŚŝƐ^ĞĐƚŝŽŶƐƚĂƚĞƐ͗ ΗdŚĞ ŶĞƚ ĂŵŽƵŶƚ ƚŽ ďĞ ĂƐƐĞƐƐĞĚ ƵƉŽŶ ůĂŶĚƐ ǁŝƚŚŝŶ ĂŶ ĂƐƐĞƐƐŵĞŶƚ ĚŝƐƚƌŝĐƚ ŵĂǇ ďĞ ĂƉƉŽƌƚŝŽŶĞĚďǇĂŶǇĨŽƌŵƵůĂŽƌŵĞƚŚŽĚǁŚŝĐŚĨĂŝƌůǇĚŝƐƚƌŝďƵƚĞƐƚŚĞŶĞƚĂŵŽƵŶƚĂŵŽŶŐĂůů ĂƐƐĞƐƐĂďůĞůŽƚƐŽƌƉĂƌĐĞůƐŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨ ŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇĞĂĐŚ ƐƵĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘͟
dŚĞĐƚƉĞƌŵŝƚƐƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨǌŽŶĞƐŽĨďĞŶĞĨŝƚǁŝƚŚŝŶĂŶǇŝŶĚŝǀŝĚƵĂůĂƐƐĞƐƐŵĞŶƚĚŝƐƚƌŝĐƚŝĨΗďǇƌĞĂƐŽŶ Ž Ĩ ǀ Ă ƌ ŝ Ă ƚ ŝ Ž Ŷ Ɛ ŝ Ŷ ƚ Ś Ğ Ŷ Ă ƚ Ƶ ƌ Ğ ͕ ů Ž Đ Ă ƚ ŝ Ž Ŷ ͕ Ă Ŷ Ě Ğ ǆ ƚ Ğ Ŷ ƚ Ž Ĩ ƚ Ś Ğ ŝ ŵ Ɖ ƌ Ž ǀĞŵĞŶƚƐ͕ ƚŚĞ ǀĂƌŝŽƵƐ ĂƌĞĂƐ ǁŝůů ƌĞĐĞŝǀĞ ĚŝĨĨĞƌĞŶƚĚĞŐƌĞĞƐŽĨďĞŶĞĨŝƚĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘Η;^ĞĐ͘ϮϮϱϳ ϰͿ͘dŚƵƐ͕ƚŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐƚŚĞůĞǀǇ ŽĨĂƚƌƵĞΗĂƐƐĞƐƐŵĞŶƚΗƌĂƚŚĞƌƚŚĂŶĂΗƐƉĞĐŝĂůƚĂǆ͘Η
/ŶĂĚĚŝƚŝŽŶ͕ƌƚŝĐůĞy///^ĞĐƚŝŽŶϰŽĨƚŚĞ^ƚĂƚĞŽŶƐƚŝƚƵƚŝŽŶ ƌĞƋƵŝƌĞƐƚŚĂƚĂƉĂƌĐĞůΖƐĂƐƐĞƐƐŵĞŶƚŵĂǇŶŽƚ ĞǆĐĞĞĚ ƚŚĞ ƌĞĂƐŽŶĂďůĞ ĐŽƐƚ ŽĨ ƚŚĞ ƉƌŽƉŽƌƚŝŽŶĂů ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ĐŽŶĨĞƌƌĞĚ ŽŶ ƚŚĂƚ ƉĂƌĐĞů͘ ^ĞĐƚŝŽŶ ϰ ƉƌŽǀŝĚĞƐƚŚĂƚŽŶůǇƐƉĞĐŝĂůďĞŶĞĨŝƚƐĂƌĞĂƐƐĞƐƐĂďůĞ͕ĂŶĚƚŚĞŝƚ ǇŵƵƐƚƐĞƉĂƌĂƚĞƚŚĞŐĞ ŶĞƌĂůďĞŶĞĨŝƚƐĨƌŽŵ ƚŚĞƐƉĞĐŝĂůďĞŶĞĨŝƚƐ͘
ZĞĂƐŽŶĨŽƌƚŚĞƐƐĞƐƐŵĞŶƚ
dŚĞĂƐƐĞƐƐŵĞŶƚŝƐƉƌŽƉŽƐĞĚƚŽďĞůĞǀŝĞĚƚŽĚĞĨƌĂǇƚŚĞĐŽƐƚƐŽĨƚŚĞƐĞƌǀŝĐŝŶŐĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƉĂƌŬƐĂŶĚ ƌĞĐƌĞĂƚŝŽŶĂůŝŵƉƌŽǀĞŵĞŶƚƐĂŶĚĂƉƉƵƌƚĞŶĂŶƚĨĂĐŝůŝƚŝĞƐ͕ŝŶĐůƵĚŝŶŐ ďƵƚŶŽƚůŝŵŝƚĞĚƚŽ͕ƉĞƌƐŽŶŶĞů͕ĞůĞĐƚƌŝĐĂů ĞŶĞƌŐǇ͕ ƵƚŝůŝƚŝĞƐ ƐƵĐŚ ĂƐ ǁĂƚĞƌ͕ ŵĂƚĞƌŝĂůƐ͕ ĐŽŶƚƌĂĐƚŝŶŐ ƐĞƌǀŝĐĞ Ɛ ͕ Ă Ŷ Ě Ž ƚ Ś Ğ ƌ ŝ ƚ Ğ ŵ Ɛ Ŷ Ğ Đ Ğ Ɛ Ɛ Ă ƌ Ǉ Ĩ Ž ƌ ƚ Ś Ğ ƐĂƚŝƐĨĂĐƚŽƌǇŽƉĞƌĂƚŝŽŶŽĨƚŚĞƐĞƐĞƌǀŝĐĞƐ͘
^ƉĞĐŝĂůWĂƌŬĞŶĞĨŝƚŶĂůǇƐŝƐ
dŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůŝŵƉƌŽǀĞ ŵĞŶƚƐƉƌŽǀŝĚĞĂƉĂƌƚŝĐƵůĂƌĂŶĚĚŝƐƚŝŶĐƚ ƐƉĞĐŝĂůďĞŶĞĨŝƚƚŽƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ͘dŚĞĚĞƐŝƌĂďŝůŝ ƚǇŽĨƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚŝƐƐƉĞĐŝĨŝĐĂůůǇ ĞŶŚĂŶĐĞĚďǇƚŚĞƉƌĞƐĞŶĐĞŽĨǁĞůůͲŵĂŝŶƚĂŝŶĞĚƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐǁŚŝĐŚĂƌĞĂǀĂŝůĂďůĞĨŽƌƚŚĞ ƵƐĞ ĂŶĚ ĞŶũŽǇŵĞŶƚ ŽĨ ƌĞƐŝĚĞŶƚƐ͕ ĐƵƐƚŽŵĞƌƐ͕ ĐůŝĞŶƚƐ͕ ĞŵƉůŽǇĞĞƐ ĂŶĚ ǀŝƐŝƚŽƌƐ ŽĨ ƚŚĞ ĂƐƐĞƐƐĞĚ ƉĂƌĐĞůƐ͘ ,ĂǀŝŶŐ ƉƌŽƉĞƌůǇ ŵĂŝŶƚĂŝŶĞĚ ƉĂƌŬƐ ƌĞĂĚŝůǇ ĂĐĐĞƐƐŝďůĞ ƚŽ ƉƌŽƉĞƌƚŝĞƐ ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ŵĞĂŶƐ ƚŚĂƚ ƚŚĞ 77 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϳ

ŽǁŶĞƌƐĂŶĚǀŝƐŝƚŽƌƐŽĨƚŚĞĂƐƐĞƐƐĞĚƉĂƌĐĞůƐŵĂǇĞŶũŽǇƚŚĞďĞŶĞĨ ŝƚƐŽĨƐƵĐŚŝŵƉƌŽǀĞŵĞŶƚƐĂǀĂŝůĂďůĞĨŽƌ ƵƐĞ ǁŚŝůĞ ƚŚĞ ŽǁŶĞƌ ĂǀŽŝĚƐ ƚŚĞ ĞǆƉĞŶƐĞ ŽĨ ƉƌŝǀĂƚĞůǇ ŝŶƐƚĂůůŝŶŐĂŶĚ ŵĂŝŶƚĂŝŶŝŶŐ ƐŝŵŝůĂƌ ŝŵƉƌŽǀĞŵĞŶƚƐ͘

ĂĐŚƉĂƌĐĞůǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚŝƐůŽĐĂƚĞĚǁŝƚŚŝŶƌĞĂƐŽŶĂďůĞƉƌŽǆŝŵŝƚǇƚŽĂƉĂƌŬĂŶĚƚŚĞƌĞĨŽƌĞďĞŶĞĨŝƚƐĨƌŽŵ ƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐƉƌŽǀŝĚĞĚŝŶƚŚĂƚƉĂƌŬ͘
/Ŷ ĂĚĚŝƚŝŽŶ ƚŽ ƉƌŽǀŝĚŝŶŐ ŽƉƉŽƌƚƵŶŝƚŝĞƐ ĨŽƌ ƌĞĐƌĞĂƚŝŽŶĂů ƵƐĞ͕ ƚŚĞƉ ƌ ŽƉ Ğ ƌ ƚ Ǉŵ ĂŝŶ ƚ Ğ Ŷ ĂŶĐ ĞĂŶĚ ƐĞ ƌ ǀŝ Đ ŝŶ ŐŽĨ ƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐŝŵƉƌŽǀĞƐƚŚĞĂĞƐƚŚĞƚŝĐƐŽĨŶĞĂƌďǇƉĂƌĐĞůƐƚŚƌŽƵŐŚƚŚĞƉƌŽƉĞƌŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚƐĞƌǀŝĐŝŶŐŽĨůĂŶĚƐĐĂƉŝŶŐ͕ƌĞĚƵĐĞƐƉŽůůƵƚŝŽŶĂŶĚŶŽŝƐĞŝŶƐƵ ƌƌŽƵŶĚŝŶŐĂƌĞĂƐƚŚƌŽƵŐŚƚŚĞƉƌŽǀŝƐŝŽŶŽĨ ŽƉĞŶƐƉĂĐĞĂŶĚƚŚĞƉůĂŶƚŝŶŐŽĨŽƚŚĞƌǁŝƐĞďĂƌƌĞŶĂƌĞĂƐ͕ĂŶĚƌĞĚƵ ĐĞƐƉƌŽƉĞƌƚǇͲƌĞůĂƚĞĚĐƌŝŵĞƐ;ĞƐƉĞĐŝĂůůǇ ǀĂŶĚĂůŝƐŵͿ ĂŐĂŝŶƐƚ ƉƌŽƉĞƌƚŝĞƐ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ƚŚƌŽƵŐŚ ƚŚĞ ĂďĂƚĞ ŵĞŶƚ ŽĨ ŐƌĂĨĨŝƚŝ͘ ůƐŽ͕ ƚŚĞ ƉƌŽƉĞƌ ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬƐ͕ǁŚŝĐŚĂůƐŽƐĞƌǀĞĂƐĚƌĂŝŶĂŐ ĞďĂƐŝŶƐƐƵĐŚĂƐdǁŝŶ>ĂŬĞƐĂŶĚƐŝŵŝůĂƌ ůĂŶĚƐĐĂƉĞĚ ĂƌĞĂƐ͕ ŶŽƚ ŽŶůǇ ĨĂĐŝůŝƚĂƚĞƐ ƉƌŽƉĞƌ ĚƌĂŝŶĂŐĞ ;ĂŶĚ ƚŚĞ ƌ Ğ ď Ǉ ƌ Ğ Ě Ƶ Đ Ğ Ɛ ƚ Ś Ğ Ɖ Ž ƚ Ğ Ŷ ƚ ŝ Ă ů Ĩ Ž ƌ Ĩ ů Ž Ž Ě ĚĂŵĂŐĞƚŽƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƐƚƌŝĐƚͿ͕ďƵƚĂůƐŽďĞĂƵƚŝĨŝĞƐĂŶĚŵĂŬĞƐƐĂĨĞƌĨůŽŽĚĐŽŶƚƌŽůĨĂĐŝůŝƚŝĞƐƚŚĂƚǁŽƵůĚ ŽƚŚĞƌǁŝƐĞďĞƵŶƐŝŐŚƚůǇĂŶĚƉŽƚĞŶƚŝĂůůǇĚĂŶŐĞƌŽƵƐ͘ůůŽĨƚŚĞĂ ďŽǀĞĐŽŶƚƌŝďƵƚĞƚŽƚŚĞĚĞƐŝƌĂďŝůŝƚǇŽĨƚŚĞ ƉƌŽƉĞƌƚŝĞƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ͘
'ĞŶĞƌĂůWĂƌŬĞŶĞĨŝƚŶĂůǇƐŝƐ
ůŽŶŐǁŝƚŚƚŚĞƐƉĞĐŝĂůďĞŶĞĨŝƚƐƌĞĐĞŝǀĞĚďǇƚŚĞƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚ͕ƚŚĞƌĞĂƌĞŐĞŶĞƌĂůďĞŶĞĨŝƚƐĐŽŶĨĞƌƌĞĚ ďǇƚŚĞŵĂŝŶƚĞŶĂŶĐĞ͕ŽƉĞƌĂƚŝŽŶĂŶ ĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬĂŶĚƌĞĐƌĞĂƚ ŝŽŶĂůĨĂĐŝůŝƚŝĞƐƚŚĂƚďĞŶĞĨŝƚƚŚĞƉƵďůŝĐĂƚ ůĂƌŐĞ͘
dŚĞŐĞŶĞƌĂůďĞŶĞĨŝƚĨƌŽŵƚŚĞƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂůŝŵƉƌŽǀĞŵĞŶƚƐĐĂŶďĞŵĞĂƐƵƌĞĚďǇĞǆĂŵŝŶŝŶŐƚŚĞƚǇƉĞ ŽĨĨĂĐŝůŝƚŝĞƐƵƐĞĚĂƚĞĂĐŚƉĂƌŬƚŚĂƚƉƌŽǀŝĚĞďĞŶĞĨŝƚƚŽƚŚĞƉƵďůŝĐĂƚůĂƌŐĞ͘dŚĞŶĞŝŐŚďŽƌŚŽŽĚƉĂƌŬƐƉƌŽǀŝĚĞ ĨĂĐŝůŝƚŝĞƐƚŚĂƚ͕ďǇĚĞĨŝŶŝƚŝŽŶ͕ĂůŵŽƐƚĞǆĐůƵƐŝǀĞůǇďĞŶĞĨŝƚƚŚĞ ƐƵƌƌŽƵŶĚŝŶŐƚƌĂĐƚŶĞŝŐŚďŽƌŚŽŽĚ͘/ŶƚŚĞŝƚǇ͛Ɛ ' Ğ Ŷ Ğ ƌ Ă ů W ů Ă Ŷ ͕ Ă Ŷ Ğ ŝ Ő Ś ď Ž ƌ Ś Ž Ž Ě Ɖ Ă ƌ Ŭ ŝ Ɛ ŵ Ğ Ă Ŷ ƚ ƚ Ž ď Ğ ů Ž Đ Ă ƚ Ğ Ě ǁ ŝ ƚ Ś ŝ Ŷǁ Ă ů Ŭ ŝ Ŷ Ő Ž ƌ ď ŝ Ŭ ŝ Ŷ Ő Ě ŝ Ɛ ƚ Ă Ŷ Đ Ğ Ž Ĩ Ğ Ă Đ Ś ƉƌŽƉĞƌƚǇ ŝŶ ƚŚĞ ŶĞŝŐŚďŽƌŚŽŽĚ͘ dŚĞ ĐŽƐƚ ŽĨ ŵĂŝŶƚĂŝŶŝŶŐ ƚŚĞƐĞ ƉĂƌ Ŭ Ɛŝ ƐŶ Žƚ ŝ ŶĐ ů Ƶ Ě ĞĚ ŝ Ŷƚ ŚĞ ƐƐĞ ƐƐŵ Ğ Ŷ ƚ ŝƐƚƌŝĐƚ͘
ŽŵŵƵŶŝƚǇƉĂƌŬƐƉƌŽǀŝĚĞĂŵĞŶŝƚŝĞƐƚŚĂƚĂƌĞĨĂƌƚŚĞƌƌĞĂĐŚŝŶŐ͕ƐĞƌǀŝĐŝŶŐĂƉŽƉƵůĂƚŝŽŶďĞƚǁĞĞŶϭϬ͕ϬϬϬĂŶĚ ϱϬ͕ϬϬϬ ǁŝƚŚŝŶ Ă ƌĂĚŝƵƐ ŽĨ ŽŶĞ ƚŽ ƚǁŽ ŵŝůĞƐ͘
ĂĐŚ ƉĂƌĐĞů ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ŝƐ ǁŝƚŚŝŶ ƚǁŽ ŵŝůĞƐ ŽĨ Ă ĐŽŵŵƵŶŝƚǇƉĂƌŬ͕ƚŚĞƌĞĨŽƌĞ͕ĞĂĐŚƉĂƌĐĞůƌĞĐĞŝǀĞƐĂƐƉĞĐŝĂůďĞŶĞĨ ŝƚĨƌŽŵĐŽŵŵƵŶŝƚǇƉĂƌŬƐ͘^ĞǀĞƌĂůŽĨƚŚĞ ĐŽŵŵƵŶŝƚǇƉĂƌŬƐŝŶĐůƵĚĞƉŽŽůƐ͕ƐƉŽƌƚƐĨŝĞůĚƐ͕ƚĞŶŶŝƐĐŽƵƌƚƐĂŶĚ ŽƚŚĞƌĐŽŵŵƵŶŝƚǇĂŵĞŶŝƚŝĞƐ͘ŽŵŵƵŶŝƚǇ ƉĂƌŬƐĂůƐŽŚĂǀĞŶĞŝŐŚďŽƌŚŽŽĚƉĂƌŬĂƚƚƌŝďƵƚĞƐƐƵĐŚĂƐƉĂƐƐŝǀĞĂŶĚĂĐƚŝǀĞƌĞĐƌĞĂƚŝŽŶŽƉƉŽƌƚƵŶŝƚŝĞƐĨŽĐƵƐĞĚ ŽŶŶĞŝŐŚďŽƌŚŽŽĚƌĞĐƌĞĂƚŝŽŶĂůĂĐƚŝǀŝƚŝĞƐ͘

ĂĐŚ ĐŽŵŵƵŶŝƚǇ ƉĂƌŬ ŚĂƐ ďĞĞŶ ƌĞǀŝĞǁĞĚ ƚŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ďĞŶĞĨŝƚ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ĐŽŵŵƵŶŝƚǇ ĂŶĚ ŶĞŝŐŚďŽƌŚŽŽĚĂŵĞŶŝƚŝĞƐĂƐĚĞĨŝŶĞĚŝŶƚŚĞŝƚǇ͛Ɛ'ĞŶĞƌĂůWůĂŶ͘ dŚĞĐŽƐƚŽĨŵĂŝŶƚĞŶĂŶĐĞ͕ƐĞƌǀŝĐŝŶŐĂŶĚ ŽƉĞƌĂƚŝŽŶ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ĂŵĞŶŝƚŝĞƐ ŽĨ ƚŚĞ ĐŽŵŵƵŶ ŝƚǇ ƉĂƌŬƐ ŝƐ ϲϱй ŽĨ ƚŚĞ ƚŽƚĂů ŵ Ă ŝ Ŷ ƚ Ğ Ŷ Ă Ŷ Đ Ğ ͕ Ɛ Ğ ƌ ǀ ŝ Đ ŝ Ŷ Ő Ă Ŷ Ě Ž Ɖ Ğ ƌ Ă ƚ ŝ Ž Ŷ Đ Ž Ɛ ƚ Ɛ ͘ d Ś Ğ ƌ Ğ Ĩ Ž ƌ Ğ ͕ ϲ ϱ й Ž Ĩ ĞĂĐŚ ĐŽŵŵƵŶŝƚǇ ƉĂƌŬ ŝƐ ƌĞůĂƚĞĚ ƚŽ ĐŽŵŵƵŶŝƚǇĂŵĞŶŝƚŝĞƐ͕ǁŚŝůĞƚŚĞŽƚŚĞƌϯϱйŝƐƌĞůĂƚĞĚƚŽŶĞŝŐŚďŽƌŚŽŽĚĂŵĞŶŝƚŝĞƐ͘ 78 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϴ

ĚĚŝƚŝŽŶĂůůǇ͕ĞĂĐŚĐŽŵŵƵŶŝƚǇƉĂƌŬŚĂƐďĞĞŶĞǆĂŵŝŶĞĚƚŽĚĞƚĞƌŵŝŶĞƚŚĞŶƵŵďĞƌŽĨƌĞŐŝƐƚƌĂƚŝŽŶƐƌĞĐĞŝǀĞĚ ďǇƚŚĞWĂƌŬĂŶĚZĞĐƌĞĂƚŝŽŶĞƉĂƌƚŵĞŶƚĨŽƌŝŶĚŝǀŝĚƵĂůƐŽƌƚĞĂŵƐŽƵƚƐŝĚĞƚŚĞŝƐƚƌŝĐƚďŽƵŶĚĂƌŝĞƐ͘dŚĞƌĂƚŝŽ ŽĨŽƵƚͲŽĨͲŝƐƚƌŝĐƚƌĞŐŝƐƚƌĂƚŝŽŶƐƚŽƚŽƚĂůƌĞŐŝƐƚƌĂƚŝŽŶƐŝƐƵƐĞĚƚŽĚĞƚĞƌŵŝŶĞƚŚĞƉŽƌƚŝŽŶŽĨĞĂĐŚƉĂƌŬďƵĚŐĞƚ ƚŚĂƚ ĂƌĞ ŽĨ ŐĞŶĞƌĂů ďĞŶĞĨŝƚ͘ dŚŝƐ ƉƌŽƉŽƌƚŝŽŶ ŚĂƐ ďĞĞŶ ĚĞƚĞƌŵŝŶĞĚ ƚŽ ďĞ ϮϬй ĨŽƌ ƚŚĞ ŶĞŝŐŚďŽƌŚŽŽĚ Ă ŵ Ğ Ŷ ŝ ƚ ŝ Ğ Ɛ Ă Ŷ Ě ϰ Ϭ й Ĩ Ž ƌ ƚ Ś Ğ Đ Ž ŵ ŵ Ƶ Ŷ ŝ ƚ Ǉ Ă ŵ Ğ Ŷ ŝ ƚ ŝ Ğ Ɛ ͘ d Ś Ğ ƌ Ğ Ĩ Ž ƌ Ğ ͕ ƚ Ś Ğ ƉŽƌƚŝŽŶ ŽĨ ƚŚĞ ĐŽŵŵƵŶŝƚǇ ƉĂƌŬ͛Ɛ ŵĂŝŶƚĞŶĂŶĐĞ͕ƐĞƌǀŝĐŝŶŐĂŶĚŽƉĞƌĂƚŝŽŶƚŚĂƚĐŽŶĨĞƌƐĂŐĞŶĞƌĂůďĞŶ ĞĨŝƚƚŽƚŚĞƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚŝƐϮϬй ŽĨƚŚĞŶĞŝŐŚďŽƌŚŽŽĚĂŵĞŶŝƚŝĞƐĂŶĚϰϬйŽĨƚŚĞĐŽŵŵƵŶŝƚǇĂŵĞŶŝƚŝĞ Ɛ͘ dŚĞŐĞŶĞƌĂůďĞŶĞĨŝƚĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞĐŽŵŵƵŶŝƚǇƉĂƌŬƐŝŶĐůƵĚĞƐƚŚĞďĞŶĞĨŝƚƚŚĞŐĞŶĞƌĂůƉƵďůŝĐƌĞĐĞŝǀĞƐ Ĩ ƌ Ž ŵ ƚ Ś Ğ Ă Ğ Ɛ ƚ Ś Ğ ƚ ŝ Đ Ă Ŷ Ě Ž ƚ Ś Ğ ƌ Ğ Ŷ ǀ ŝ ƌ Ž Ŷ ŵ Ğ Ŷ ƚ Ă ů ŝ ŵ Ɖ ƌ Ž ǀ Ğ ŵ Ğ Ŷ ƚ Ɛ Ă Ɛ Ɛ Ž Đ ŝ ĂƚĞĚ ǁŝƚŚ ŽƉĞŶ ƐƉĂĐĞ ĂƌĞĂƐ͘ dŚĞ ŐĞŶĞƌĂůďĞŶĞĨŝƚƉŽƌƚŝŽŶŽĨƚŚĞŝƚǇ͛ƐƉĂƌŬƐƐŚŽƵůĚŶŽƚďĞĨƵŶĚĞĚƚŚƌŽƵŐŚƚŚĞƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚĂŶĚŵĂǇ ďĞ ĨƵŶĚĞĚ ƚŚƌŽƵŐŚ ƚŚĞ 'ĞŶĞƌĂů &ƵŶĚ Žƌ ŽƚŚĞƌ ƐŽƵƌĐĞƐ͘ dŚĞƌĞĨŽƌĞ͕ ƚŚĞ ĂŵŽƵŶƚ ƚŚĂƚ ŵĂǇ ďĞ ĨƵŶĚĞĚ ƚŚƌŽƵŐŚƚŚĞŝƐƚƌŝĐƚĨŽƌĂŶǇŐŝǀĞŶĐŽŵŵƵŶŝƚǇƉĂƌŬŝƐĐŽŵƉƌŝƐĞĚ ŽĨƚǁŽĞůĞŵĞŶƚƐ͗ĐŽŵŵƵŶŝƚǇĂŵĞŶŝƚŝĞƐ ʹϲϬйŽĨƚŚĞϲϱйŽĨĂĐŽŵŵƵŶŝƚǇƉĂƌŬ͛ƐŽƉĞƌĂƚŝŶŐďƵĚŐĞƚ͕ĂŶĚŶĞŝŐŚďŽƌŚŽŽĚĂŵĞŶŝƚŝĞƐʹϴϬйŽĨϯϱйŽĨ ƚŚĞĐŽŵŵƵŶŝƚǇƉĂƌŬ͛ƐŽƉĞƌĂƚŝŶŐďƵĚŐĞƚ͘dŚĞƌĞŵĂŝŶŝŶŐďƵĚŐĞƚĐŽŶĨĞƌƐĂŐĞŶĞƌĂůďĞŶĞĨŝƚĂŶĚǁŝůůďĞƉĂŝĚ ĨƌŽŵĨƵŶĚƐŽƚŚĞƌƚŚĂŶƚŚĞŝƐƚƌŝĐƚ͘ĂƐĞĚŽŶƚŚĞĂďŽǀĞĂŶĂůǇƐŝ Ɛ͕ƚŚĞĂŵŽƵŶƚŽĨƉĂƌŬĂŶĚƌĞĐƌĞĂƚŝŽŶĂů ŝŵƉƌŽǀĞŵĞŶƚƐƚŚĂƚŵĂǇďĞĨƵŶĚĞĚƚŚƌŽƵŐŚƚŚĞŝƐƚƌŝĐƚŝƐƐŚŽǁŶŝ ŶdĂďůĞϭ͘ 79 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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DĞƚŚŽĚŽůŽŐǇ
d Ś Ğ ď Ğ Ŷ Ğ Ĩ ŝ ƚ Ĩ ƌ Ž ŵ Ɖ Ă ƌ Ŭ Ɛ Đ Ă Ŷ ď Ğ ŵ Ğ Ă Ɛ Ƶ ƌ Ğ Ě ď Ǉ ŝ Ŷ Đ ƌ Ğ Ă Ɛ Ğ Ě Ɛ Ă Ĩ Ğ ƚ Ǉ ͕ ƚ Ś Ğ ĂǀĂŝůĂďŝůŝƚǇ ŽĨ ŝŵƉƌŽǀĞŵĞŶƚƐ ĨŽƌ ƌĞĐƌĞĂƚŝŽŶĂůƵƐĞ͕ĂŶĚŽƚŚĞƌƉƌŽƉĞƌƚǇͲƌĞůĂƚĞĚďĞŶĞĨŝƚƐ͘/ŶŽƌĚĞ ƌƚŽĞƐƚĂďůŝƐŚƚŚĞƉƌŽƉŽƌƚŝŽŶĂƚĞƐŚĂƌĞŽĨ ƉĂƌŬďĞŶĞĨŝƚƚŽĂŶǇƉĂƌĐĞůŽĨůĂŶĚŝŶƌĞůĂƚŝŽŶƚŽƚŚĞƚŽƚĂůƐƉĞ ĐŝĂůďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇƉĂƌŬƐ͕ŝƚŝƐ ŶĞĐĞƐƐĂƌǇƚŽĞƐƚĂďůŝƐŚĂďĞŶĐŚŵĂƌŬƚŽƌĞůĂƚĞƚŚĂƚŽŶĞƉĂƌĐĞůƚŽ ĂůůŽƚŚĞƌƐ͘dŚĞďĞŶĐŚŵĂƌŬŝƐĐĂůůĞĚƚŚĞ WĂƌŬEĂŵĞ dŽƚĂůWĂƌŬŽƐƚƐ
ƐƐĞƐƐĂďůĞ
EĞŝŐŚďŽƌŚŽŽĚ
ŵĞŶŝƚŝĞƐ;ϭͿ
ƐƐĞƐƐĂďůĞ
ŽŵŵƵŶŝƚǇWĂƌŬ
ŽƐƚƐ;ϮͿ
dŽƚĂůƐƐĞƐƐĂďůĞ
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ƚůĂŶƚŝƐ Ψϵϱ͕ϵϯϰ ΨϮϲ͕ϴϲϮ Ψϯϳ͕ϰϭϰ Ψϲϰ͕Ϯϳϲ
'ĂƌĚĞŶ'ƌŽǀĞ Ψϴϯϭ͕ϰϮϴ ΨϮϯϮ͕ϴϬϬ ΨϯϮϰ͕Ϯϱϳ Ψϱϱϳ͕Ϭϱϳ

ĂƐƚŐĂƚĞ Ψϵϱ͕ϵϯϰ ΨϮϲ͕ϴϲϮ Ψϯϳ͕ϰϭϰ Ψϲϰ͕Ϯϳϲ
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DĂŐŶŽůŝĂ ΨϭϮϳ͕ϵϭϮ Ψϯϱ͕ϴϭϱ Ψϰϵ͕ϴϴϲ Ψϴϱ͕ϳϬϭ
tŽŽĚďƵƌǇ Ψϲϯ͕ϵϱϲ Ψϭϳ͕ϵϬϴ ΨϮϰ͕ϵϰϯ ΨϰϮ͕ϴϱϭ
sŝůůĂŐĞ'ƌĞĞŶ Ψϭϱϵ͕ϴϵϬ Ψϰϰ͕ϳϲϵ ΨϲϮ͕ϯϱϳ ΨϭϬϳ͕ϭϮϲ
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WŝŽŶĞĞƌ Ψϵϱ͕ϵϯϰ ΨϮϲ͕ϴϲϮ Ψϯϳ͕ϰϭϰ Ψϲϰ͕Ϯϳϲ

ĚŐĂƌ ΨϭϮϳ͕ϵϭϮ Ψϯϱ͕ϴϭϱ Ψϰϵ͕ϴϴϲ Ψϴϱ͕ϳϬϭ
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EŽŶƌĞƐŝĚĞŶƚŝĂů ƉĂƌĐĞůƐ͕ ŝŶĐůƵĚŝŶŐ ĐŽŵŵĞƌĐŝĂů ĂŶĚ ŝŶĚƵƐƚƌŝĂů ƉƌŽ ƉĞƌƚŝĞƐ͕ ďĞŶĞĨŝƚ ĨƌŽŵ ƚŚĞ ƉƌŽƉĞƌ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƉĂƌŬƐ͕ ƐŝŶĐĞ ƐƵĐŚ ƉĂƌŬƐ ĂƚƚƌĂĐƚ ƉŽ ƚĞŶƚŝĂů ĐƵƐƚŽŵĞƌƐ͕ ĞŵƉůŽǇĞĞƐ͕ ĂŶĚ ŵĞŵďĞƌƐŚŝƉĨƌŽŵŽƵƚƐŝĚĞƚŚĞŝƐƚƌŝĐƚ͕ĂŶĚĞŶĐŽƵƌĂŐĞƌĞƐŝĚĞŶƚƐŽ ĨƚŚĞŝƚǇƚŽůĞĂǀĞƚŚĞŝƌƌĞƐŝĚĞŶĐĞƐĂŶĚ ƉĂƚƌŽŶŝǌĞƚŚĞƐĞĞƐƚĂďůŝƐŚŵĞŶƚƐ͘ůůEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐĂƌĞ ĂƐƐĞƐƐĞĚĂĐĐŽƌĚŝŶŐƚŽƚŚĞŝƌƉĂƌĐĞůƐƋƵĂƌĞ Ĩ Ž Ž ƚ Ă Ő Ğ Ĩ Ž ƌ Ɛ Ă Ĩ Ğ ƚ Ǉ ď Ğ Ŷ Ğ Ĩ ŝ ƚ ƌ Ğ Ɛ Ƶ ů ƚ ŝ Ŷ Ő Ĩ ƌ Ž ŵ Ɖ Ă ƌ Ŭ ŵ Ă ŝ Ŷ ƚ Ğ Ŷ Ă Ŷ Đ Ğ Ă Ŷ Ě ƐĞƌǀŝĐŝŶŐ͘ hƐŝŶŐ ƚŚĞ ^ŝŶŐůĞ &ĂŵŝůǇ ZĞƐŝĚĞŶĐĞĂƐĂďĂƐĞ͕EŽŶƌĞƐŝĚĞŶƚŝĂůƉƌŽƉĞƌƚŝĞƐƌĞĐĞŝǀĞƚŚĞƐĂŵĞŶƵŵďĞƌŽĨh͛ƐĂƐĂŶ^&ZĨŽƌĞǀĞƌǇϳ͕ϮϬϬ ƐƋƵĂƌĞĨĞĞƚŽĨůĂŶĚ͘&ƵƌƚŚĞƌŵŽƌĞ͕EŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐůĞƐƐ ƚŚĂŶϳ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚŝŶƐŝǌĞĂƌĞĂƐƐŝŐŶĞĚ ĂŵŝŶŝŵƵŵŽĨϭh͘^ŝŶĐĞƚŚĞƐĂĨĞƚǇďĞŶĞĨŝƚĨŽƌĂŶ^&ZƉĂƌĐĞůŝ ƐŶŽůĞƐƐƚŚĂŶϭh͕ŝƚŝƐƌĞĂƐŽŶĂďůĞƚŽƐĞƚ ϭhĂƐƚŚĞŵŝŶŝŵƵŵƐĂĨĞƚǇďĞŶĞĨŝƚĨŽƌŶŽŶͲƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ͘ dŚĞďĞŶĞĨŝƚŽĨƌĞĐƌĞĂƚŝŽŶĂůĂŵĞŶŝƚŝĞƐŝƐĂƉƉŽƌƚŝŽŶĞĚƚŽƉĂƌĐĞůƐ ŝŶƚŚĞŝƐƚƌŝĐƚďĂƐĞĚŽŶƉŽƉƵůĂƚŝŽŶĚĂƚĂ ĨƌŽŵ ƚŚĞ ŝƚǇ ŽĨ 'ĂƌĚĞŶ 'ƌŽǀĞ WůĂŶŶŝŶŐ ĞƉĂƌƚŵĞŶƚ ĂƐ ƐŚŽǁŶ ŝŶ dĂďůĞ Ϯ͘ dŚŝƐ ƚĂďůĞ ĂůƐŽ ƐŚŽǁƐ ƚŚĞ ǁ Ğ ŝ Ő Ś ƚ Ğ Ě Ă ŵ Ž Ƶ Ŷ ƚ Ž Ĩ ď Ğ Ŷ Ğ Ĩ ŝ ƚ ƚ Ś Ă ƚ Ğ Ă Đ Ś ů Ă Ŷ Ě Ƶ Ɛ Ğ ƌ Ğ Đ Ğ ŝ ǀ Ğ Ɛ Ĩ ƌ Ž ŵ Ś Ă ǀŝŶŐ ƌĞĐƌĞĂƚŝŽŶĂů ĂŵĞŶŝƚŝĞƐ ŝŶ ĐůŽƐĞ ƉƌŽǆŝŵŝƚǇ͘ƐŝƚǁĂƐĚĞƚĞƌŵŝŶĞĚƚŚĂƚƚŚĞƌĞĐƌĞĂƚŝŽŶĂůĂŵĞŶŝƚŝĞ ƐŵĂĚĞƵƉŽŶĞͲƚŚŝƌĚŽĨ ƚŚĞƚŽƚĂůďĞŶĞĨŝƚƐ 81 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
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ϭϭ

ƌĞĐĞŝǀĞĚ͕ƚŚĞƌŽƵŶĚĞĚƉĞƌĐĞŶƚĂŐĞŽĨĞĂĐŚůĂŶĚƵƐĞ͛ƐƉŽƉƵůĂƚŝŽŶ͕ ĂƐĐŽŵƉĂƌĞĚƚŽƚŚĞ^&Z͛ƐƉŽƉƵůĂƚŝŽŶ͕ŝƐ ƚŚĞŶŵƵůƚŝƉůŝĞĚďǇŽŶĞͲƚŚŝƌĚ͘

dŚĞ ƐĂĨĞƚǇ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ǁĞůůͲŵĂŝŶƚĂŝŶĞĚ ƉĂƌŬƐ ĚŝƌĞĐƚůǇ ďĞŶĞĨŝƚƐ ƉƌŽƉĞƌƚŝĞƐ ďĞĐĂƵƐĞ ďƵƐŝŶĞƐƐĞƐ ĂŶĚ ƉƌŽƉĞƌƚǇŽǁŶĞƌƐǁĂŶƚƚŽďĞůŽĐĂƚĞĚŝŶƐĂĨĞŶĞŝŐŚďŽƌŚŽŽĚƐǁŝƚŚƐĂĨĞƉĂƌŬƐ͘^ĂĨĞƚǇďĞŶĞĨŝƚŝƐĂƉƉƌŽƉƌŝĂƚĞůǇ ŵĞĂƐƵƌĞĚďĂƐĞĚŽŶůĂŶĚĂƌĞĂĨŽƌĂůůŽĨƚŚĞƵƐĞƐ͘,ŽǁĞǀĞƌ͕ŝƚǁ ŽƵůĚďĞŝŵƉƌĂĐƚŝĐĂůƚŽĐŚĂƌŐĞĚŝĨĨĞƌĞŶƚ ĂŵŽƵŶƚƐǁŝƚŚŝŶƚŚĞƌĞƐŝĚĞŶƚŝĂůůĂŶĚƵƐĞƐ͘dŚĞƌĞĨŽƌĞ͕ƚŚĞƌĞƐŝĚĞŶƚŝĂůƉƌŽƉĞƌƚŝĞƐĂƌĞĂƉƉůŝĞĚĂŶĂƐƐĞƐƐŵĞŶƚ ƵŶŝƚďĂƐĞĚŽŶƚŚĞĂǀĞƌĂŐĞƉĂƌĐĞůƐŝǌĞŽĨĞĂĐŚůĂŶĚƵƐĞĂƐƐŚŽǁŶ ďĞůŽǁŝŶdĂďůĞϯ͘dŚĞƚĂďůĞĂůƐŽƐŚŽǁƐ ƚŚĞǁĞŝŐŚƚĞĚĂŵŽƵŶƚŽĨďĞŶĞĨŝƚƚŚĂƚĞĂĐŚůĂŶĚƵƐĞƌĞĐĞŝǀĞƐĨƌŽŵƚŚĞƐĂĨĞƚǇĂƐƐŽĐŝĂƚĞĚǁŝƚŚŚĂǀŝŶŐƉĂƌŬƐ ŝŶĐůŽƐĞƉƌŽǆŝŵŝƚǇ͘ƐŝƚǁĂƐĚĞƚĞƌŵŝŶĞĚƚŚĂƚƚŚĞƐĂĨĞƚǇĨĂĐƚŽ ƌŵĂĚĞƵƉƚǁŽͲƚŚŝƌĚƐŽĨƚŚĞƚŽƚĂůďĞŶĞĨŝƚƐ ƌĞĐĞŝǀĞĚ͕ƚŚĞƌŽƵŶĚĞĚƉĞƌĐĞŶƚĂŐĞŽĨĞĂĐŚůĂŶĚƵƐĞ͛ƐƉŽƉƵůĂƚŝŽŶ͕ ĂƐĐŽŵƉĂƌĞĚƚŽƚŚĞ^&Z͛ƐƉŽƉƵůĂƚŝŽŶ͕ŝƐ ƚŚĞŶŵƵůƚŝƉůŝĞĚďǇƚǁŽͲƚŚŝƌĚƐ͘

dŚĞ ǁĞŝŐŚƚĞĚ ďĞŶĞĨŝƚƐ ƌĞĐĞŝǀĞĚ ĨƌŽŵ ƌĞĐƌĞĂƚŝŽŶ ĂŶĚ ƐĂĨĞƚǇ ĂƌĞ ƚŚĞŶ ĂĚĚĞĚ ƚŽŐĞƚŚĞƌ ƚŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚƵŶŝƚĨŽƌĞĂĐŚŽĨƚŚĞůĂŶĚƵƐĞƐĂƐƐŚŽǁŶŝŶdĂďůĞϰ͘ >ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ WŽƉƵůĂƚŝŽŶ
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&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϮ

EŽŶƉƌŽĨŝƚ͕'ŽǀĞƌŶŵĞŶƚĂŶĚsĂĐĂŶƚƉĂƌĐĞůƐƌĞĐĞŝǀĞůĞƐƐďĞŶĞĨŝƚƚ ŚĂŶŽƚŚĞƌEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐŝŶƚŚĞ ŝƐƚƌŝĐƚĨƌŽŵƚŚĞŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬƐ ŝŶƚŚĞŝƚǇĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞĂƐƐĞƐƐĞĚĂƚ ůŽǁĞƌůĞǀĞůƐ͕ĂƐĚŝƐĐƵƐƐĞĚďĞůŽǁ͘
EŽŶƉƌŽĨŝƚƉĂƌĐĞůƐƌĞĐĞŝǀĞůĞƐƐďĞŶĞĨŝƚƚŚĂŶŽƚŚĞƌEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚĨƌŽŵƚŚĞŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬƐŝŶƚŚĞŝƚǇĨŽƌƐĞǀĞƌĂůƌĞĂƐŽŶƐ͘EŽŶƉƌŽĨŝƚƉĂƌĐĞůƐĨƵŶĐƚŝŽŶĚŝĨĨĞƌĞŶƚůǇ ƚŚĂŶEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐŝŶƚŚĂƚƚŚĞǇ͗ϭͿƚǇƉŝĐĂůůǇŽƉĞƌĂƚĞĨĞǁĞƌĚĂǇƐŝŶƚŚĞǁĞĞŬ͕ϮͿŐĞŶĞƌĂůůǇŚĂǀĞĂŶ ŝŶĐŽŶƐŝƐƚĞŶƚŶƵŵďĞƌŽĨƉĞŽƉůĞƵƐŝŶŐƚŚĞĨĂĐŝůŝƚŝĞƐĚĂŝůǇ͕ĂŶĚϯͿŚĂǀĞĂůĞƐƐŝŶƚĞŶƐŝǀĞƵƐĞƚŚĂŶƚŚĞƉƌŽƉĞƌƚǇ ƐŝǌĞĂůŽŶĞǁŽƵůĚŝŶĚŝĐĂƚĞďĞĐĂƵƐĞŝŶŐĞŶĞƌĂůƚŚĞůĂƌŐĞEŽŶƉƌŽĨŝƚƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚĐŽŶƚĂŝŶůĂƌŐĞŐƌĞĞŶ ĂƌĞĂƐƚŚĂƚĨƵŶĐƚŝŽŶĂƐŽƉĞŶƐƉĂĐĞ͘^ŝŶĐĞƚŚĞEŽŶƉƌŽĨŝƚƉĂƌĐĞůƐ ƌĞĐĞŝǀĞůĞƐƐƐĂĨĞƚǇĂŶĚƌĞĐƌĞĂƚŝŽŶďĞŶĞĨŝƚ ƚŚĂŶEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ͕ƚŚĞEŽŶƉƌŽĨŝƚƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚ ĂƚĂůŽǁĞƌůĞǀĞůƚŚĂŶƚŚĞEŽŶƌĞƐŝĚĞŶƚŝĂů ƉĂƌĐĞůƐ͘EŽŶƉƌŽĨŝƚƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚĂƚϬ͘ϲϳhĨŽƌĞǀĞƌǇϳ ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚŽĨůĂŶĚ͕ǁŝƚŚĂŵŝŶŝŵƵŵ ĂƐƐĞƐƐŵĞŶƚŽĨϭh͕ĂŶĚĂƌĞŽŶůǇĂƐƐĞƐƐĞĚĨŽƌƚŚĞĨŝƌƐƚϮϴ͕ϴϬϬƐƋƵĂƌĞĨĞĞƚ͘^ŝŶĐĞƚŚĞƐĂĨĞƚǇďĞŶĞĨŝƚĨŽƌĂŶ ^&ZƉĂƌĐĞůŝƐŶŽůĞƐƐƚŚĂŶϭh͕ŝƚŝƐƌĞĂƐŽŶĂďůĞƚŽƐĞƚϭhĂ ƐƚŚĞŵŝŶŝŵƵŵƐĂĨĞƚǇďĞŶĞĨŝƚĨŽƌEŽŶƉƌŽĨŝƚ ƉĂƌĐĞůƐ͘
Ɛ Ă ƌĞƐƵůƚ ŽĨ ƚŚĞ ƉĂƐƐĂŐĞ ŽĨ WƌŽƉŽƐŝƚŝŽŶ Ϯϭϴ͕ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚ ŵ ĞƚŚŽĚŽůŽŐǇ ĨŽƌ ƚŚĞ ŝƐƚƌŝĐƚ ŚĂƐ ƚŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ƐƉĞĐŝĂů ďĞŶĞĨŝƚ ƚŚĂƚ ƐŚŽƵůĚ ďĞ ĂƚƚƌŝďƵƚĞĚ ƚŽ ƉƵďůŝĐ ĂŐĞŶĐǇ ƉĂƌĐĞůƐ ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ďŽƵŶĚĂƌǇ͘^ĞĐƚŝŽŶϰŽĨƚŚĞWƌŽƉŽƐŝƚŝŽŶƐƚĂƚĞƐ͕
͞WĂƌĐĞůƐǁŝƚŚŝŶĂĚŝƐƚƌŝĐƚƚŚĂƚĂƌĞŽǁŶĞĚŽƌƵƐĞĚďǇĂŶǇĂŐĞŶĐǇ͕ƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂŽƌ ƚŚĞ hŶŝƚĞĚ ^ƚĂƚĞƐ ƐŚĂůů ŶŽƚ ďĞ ĞǆĞŵƉƚ ĨƌŽŵ ĂƐƐĞƐƐŵĞŶƚ ƵŶůĞƐƐ ƚŚ Ğ ĂŐĞŶĐǇ ĐĂŶ ĚĞŵŽŶƐƚƌĂƚĞďǇĐůĞĂƌĂŶĚĐŽŶǀŝŶĐŝŶŐĞǀŝĚĞŶĐĞƚŚĂƚƐƵĐŚƉƵďůŝĐůǇ ŽǁŶĞĚƉĂƌĐĞůƐŝŶĨĂĐƚ ƌĞĐĞŝǀĞŶŽƐƉĞĐŝĂůďĞŶĞĨŝƚ͘͟
'ŽǀĞƌŶŵĞŶƚƉƌŽƉĞƌƚŝĞƐĂůƐŽďĞŶĞĨŝƚĨƌŽŵƚŚĞƉƌŽƉĞƌŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƉĂƌŬƐ͕ƐŝŶĐĞƐƵĐŚƉĂƌŬƐ ĂƚƚƌĂĐƚ ƉŽƚĞŶƚŝĂů ĞŵƉůŽǇĞĞƐ ĂƐ ƐŚŽǁŶ ďĞůŽǁ͘ WƌŽƉĞƌ ŵĂŝŶƚĞŶĂŶĐĞ͕ ŽƉĞƌĂƚŝŽŶ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƉĂƌŬƐ ďĞŶĞĨŝƚƐ'ŽǀĞƌŶŵĞŶƚƉĂƌĐĞůƐďĞĐĂƵƐĞ͗
ƚŚĞǇ ƌĞĚƵĐĞ ƉƌŽƉĞƌƚǇͲƌĞůĂƚĞĚ ĐƌŝŵĞƐ ĂŐĂŝŶƐƚ ƉƵďůŝĐ ƉĂƌĐĞůƐ ǁŝƚŚ ŝŶ ƚŚĞ ŝƐƚƌŝĐƚ͕ ĞƐƉĞĐŝĂůůǇ ǀĂŶĚĂůŝƐŵ͕ƚŚƌŽƵŐŚƚŚĞĂďĂƚĞŵĞŶƚŽĨŐƌĂĨĨŝƚŝ͖
ƚŚĞǇŝŵƉƌŽǀĞƚŚĞĂĞƐƚŚĞƚŝĐƐŽĨƉƵďůŝĐƉĂƌĐĞůƐƚŚƌŽƵŐŚƚŚĞƉƌŽƉĞ ƌŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨ ůĂŶĚƐĐĂƉŝŶŐĂŶĚƚŚĞƉůĂŶƚŝŶŐŽĨŽƚŚĞƌǁŝƐĞďĂƌƌĞŶĂƌĞĂƐ͖ >ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ ZĞĐƌĞĂƚŝŽŶ
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&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϯ

ƚŚĞǇƌĞĚƵĐĞƉŽůůƵƚŝŽŶĂŶĚŶŽŝƐĞŝŶƐƵƌƌŽƵŶĚŝŶŐĂƌĞĂƐƚŚƌŽƵŐŚŽƵƚ ƚŚĞƉƌŽǀŝƐŝŽŶŽĨŽƉĞŶƐƉĂĐĞ͖ ŚĂǀŝŶŐƉƌŽƉĞƌůǇŵĂŝŶƚĂŝŶĞĚƉĂƌŬƐƌĞĂĚŝůǇĂĐĐĞƐƐŝďůĞƚŽƚŚĞƉƵďůŝĐƉƌŽƉĞƌƚŝĞƐŵĞĂŶƐƚŚĂƚƚŚĞƉƵďůŝĐ ĂŐĞŶĐŝĞƐ ŵĂǇ ĞŶũŽǇ ƚŚĞ ďĞŶĞĨŝƚƐ ŽĨ ƐƵĐŚ ŝŵƉƌŽǀĞŵĞŶƚƐ ĂǀĂŝůĂďůĞ ĨŽƌ ƵƐĞ ǁŚŝůĞ ĂǀŽŝĚŝŶŐ ƚŚĞ ĞǆƉĞŶƐĞŽĨƉƌŝǀĂƚĞůǇŝŶƐƚĂůůŝŶŐĂŶĚŵĂŝŶƚĂŝŶŝŶŐƐŝŵŝůĂƌŝŵƉƌŽǀĞŵĞŶƚƐ͖ĂŶĚ ƐƉƌĂǇŝŶŐĂŶĚƚƌĞĂƚŝŶŐŽĨůĂŶĚƐĐĂƉŝŶŐĨŽƌĚŝƐĞĂƐĞĂŶĚǁĞĞĚĐŽŶƚƌŽůƌĞĚƵĐĞƐƚŚĞůŝŬĞůŝŚŽŽĚŽĨŝŶƐĞĐƚ ŽƌǁĞĞĚŝŶĨĞƐƚĂƚŝŽŶƐƉƌĞĂĚŝŶŐƚŽƚŚĞůĂŶĚƐĐĂƉŝŶŐůŽĐĂƚĞĚŽŶƉƵďůŝĐƉƌŽƉĞƌƚŝĞƐǁŝƚŚƚŚĞŝƐƚƌŝĐƚ͘ 'ŽǀĞƌŶŵĞŶƚƉĂƌĐĞůƐ͕ŚŽǁĞǀĞƌ͕ƌĞĐĞŝǀĞůĞƐƐďĞŶĞĨŝƚƚŚĂŶŽƚŚĞƌEŽ ŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐŝŶƚŚĞŝƐƚƌŝĐƚĨƌŽŵ ƚŚĞ ŽƉĞƌĂƚŝŽŶ͕ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƉĂƌŬƐ ŝŶ ƚŚĞ ŝƚǇ͘ &Žƌ ŝŶƐƚĂŶĐĞ͕ Ă ƉŽƌƚŝŽŶ ŽĨ ŵŽƐƚ ƉƵďůŝĐ ƉƌŽƉĞƌƚŝĞƐ ǁŝƚŚŝŶ ƚŚĞ ŝƐƚƌŝĐƚ ŝƐ ƵƐĞĚ ĂƐ Ă ƉĂƌŬ ĂŶĚͬŽƌ ƌĞĐƌĞĂƚ ŝŽŶ ĂƌĞĂ͘ ĚĚŝƚŝŽŶĂůůǇ͕ 'ŽǀĞƌŶŵĞŶƚ ƉƌŽƉĞƌƚŝĞƐŐĞŶĞƌĂůůǇĚŽŶŽƚďĞŶĞĨŝƚĨƌŽŵƚŚĞƌĞƐĂůĞǀĂůƵĞŽĨƚŚ ĞŝƌƉƌŽƉĞƌƚŝĞƐ͘ŽŶƐĞƋƵĞŶƚůǇ͕ƚŚĞƐƉĞĐŝĨŝĐ ďĞŶĞĨŝƚƚŚĂƚŝƐĐŽŶĨĞƌƌĞĚƚŽŽƚŚĞƌƉƌŽƉĞƌƚŝĞƐŝŶƚŚĞŝƐƚƌŝĐƚŝ ƐŶŽƚĐŽŶĨĞƌƌĞĚƚŽ'ŽǀĞƌŶŵĞŶƚƉƌŽƉĞƌƚŝĞƐ͘ dŚĞƌĞĨŽƌĞ͕ƚŚĞƉƵďůŝĐƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚĂƚŚĂůĨƚŚĞƌĂƚĞŽĨ EŽŶƌĞƐŝĚĞŶƚŝĂůƵƐĞƐ͕ƌĞĐĞŝǀŝŶŐϬ͘ϱϬhĨŽƌ ĞǀĞƌǇϳ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚŽĨůĂŶĚ͘
>ŝŬĞ'ŽǀĞƌŶŵĞŶƚƉĂƌĐĞůƐ͕sĂĐĂŶƚƉĂƌĐĞůƐƌĞĐĞŝǀĞĂƐƉĞĐŝĂůďĞŶĞĨŝƚĨƌŽŵƚŚĞƐĂĨĞƚǇŝŵƉƌŽǀĞŵĞŶƚƐĚƵĞƚŽĂ ĚĞĐƌĞĂƐĞŝŶǀĂŶĚĂůŝƐŵĂƐĂƌĞƐƵůƚŽĨƚŚĞŝŶĐƌĞĂƐĞĚĚĞƐŝƌĂďŝůŝƚǇ ŽĨĂƉĂƌĐĞůƚŚĂƚŝƐůŽĐĂƚĞĚŝŶĂƌĞĂƐǁŝƚŚĂ ůĂŶĚƐĐĂƉŝŶŐƉƌŽŐƌĂŵ͘^ŝŶĐĞƚŚĞƌĞĂƌĞĨĞǁĞƌŝŵƉƌŽǀĞŵĞŶƚƐŽŶĂs ĂĐĂŶƚƉĂƌĐĞůĂŶĚƉĞŽƉůĞĂƌĞŶŽƚƵƐŝŶŐ ƚŚĞ ƉĂƌĐĞů͕ ƚŚĞ ƐĂĨĞƚǇ ďĞŶĞĨŝƚ ƚŽ ǀĂĐĂŶƚ ƉĂƌĐĞůƐ ƌĞĐĞŝǀĞĚ ŝƐ ůŽǁĞƌ ƚŚĂŶ ŽƚŚĞƌ EŽŶƌĞƐŝĚĞŶƚŝĂů ƉĂƌĐĞůƐ͘ dŚĞƌĞĨŽƌĞ͕sĂĐĂŶƚƉĂƌĐĞůƐĂƌĞĂƐƐĞƐƐĞĚĂƚŽŶĞͲƋƵĂƌƚĞƌƚŚĞƌĂƚĞ ŽĨEŽŶƌĞƐŝĚĞŶƚŝĂůƉĂƌĐĞůƐ͕ƌĞĐĞŝǀŝŶŐϬ͘Ϯϱ hĨŽƌĞǀĞƌǇϳ͕ϮϬϬƐƋƵĂƌĞĨĞĞƚŽĨůĂŶĚ͘
dŚĞĂƐƐĞƐƐŵĞŶƚƵŶŝƚĨŽƌŵƵůĂƐĨŽƌEŽŶƉƌŽĨŝƚ͕'ŽǀĞƌŶŵĞŶƚĂŶĚsĂĐĂŶƚƉĂƌĐĞůƐĂƌĞƐŚŽǁŶďĞůŽǁŝŶdĂďůĞϱ͘

dĂďůĞϲƉƌŽǀŝĚĞƐĂƐƵŵŵĂƌǇŽĨĂƐƐĞƐƐŵĞŶƚƵŶŝƚƐĨŽƌƚŚĞĚŝĨĨĞƌĞŶƚůĂŶĚƵƐĞƐĨŽƌƉĂƌŬƐƉĞĐŝĂůďĞŶĞĨŝƚ͘
>ĂŶĚhƐĞĞƐĐƌŝƉƚŝŽŶ
EŽŶƉƌŽĨŝƚ Ϭ͘ϲϳ ƉĞƌϳ͕ϮϬϬƐĨ
;ϭ͘ϬϬ ŵŝŶŝŵƵŵ͕
Ϯ͘ϲϴ ŵĂǆŝŵƵŵͿ
'ŽǀĞƌŶŵĞŶƚ Ϭ͘ϱϬ ƉĞƌϳ͕ϮϬϬƐĨ
sĂĐĂŶƚ Ϭ͘Ϯϱ ƉĞƌϳ͕ϮϬϬƐĨ
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WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϰ

dŚĞƌĂƚĞƉĞƌhŝƐĐĂůĐƵůĂƚĞĚďǇĚŝǀŝĚŝŶŐƚŚĞƚŽƚĂůďƵĚŐĞƚĂŵŽƵŶƚďǇƚŚĞƚŽƚĂůŶƵŵďĞƌŽĨhΖƐ͗
^ĂŵƉůĞĐĂůĐƵůĂƚŝŽŶƐĨŽƌǀĂƌŝŽƵƐůĂŶĚƵƐĞƚǇƉĞƐĂƌĞƉƌŽǀŝĚĞĚŝŶdĂďůĞϳ͘ ^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů Ϯϲ͕ϲϬϭ Ϯϲ͕ϲϬϱ ϭ͘ϬϬ ͬƵŶŝƚ Ϯϲ͕ϲϬϱ͘ϬϬϬ ŽŶĚŽŵŝŶŝƵŵ ϱ͕ϵϳϴ ϲ͕ϬϮϯ Ϭ͘ϱϴ ͬƵŶŝƚ ϯ͕ϰϵϯ͘ϯϰϬ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭ͕ϭϲϮ ϭϯ͕ϵϬϰ Ϭ͘ϱϲ ͬƵŶŝƚ ϳ͕ϳϴϲ͘ϮϰϬ DŽďŝůĞ,ŽŵĞ ϭϰ ϭ͕ϱϱϵ Ϭ͘ϰϳ ͬƵŶŝƚ ϳϯϮ͘ϳϯϬ
EŽŶƌĞƐŝĚĞŶƚŝĂůΎ ϭ͕ϱϱϮ Ϭ ϲϴ͕ϲϬϲ͕ϱϮϴ ϭ͘ϬϬ ͬϳ͕ϮϬϬƐĨ ϵ͕ϲϭϲ͘ϯϬϵ EŽŶƉƌŽĨŝƚΎ ϭϮϰ Ϭ ϴ͕Ϭϲϳ͕ϳϮϲ Ϭ͘ϲϳ ͬϳ͕ϮϬϬƐĨ Ϯϱϲ͘ϲϵϴ
'ŽǀĞƌŶŵĞŶƚ ϮϮϯ Ϭ ϰϱ͕ϲϱϰ͕ϴϴϮ Ϭ͘ϱϬ ͬϳ͕ϮϬϬƐĨ ϯ͕ϭϳϬ͘ϰϴϮ
sĂĐĂŶƚ ϴϲ Ϭ ϭ͕ϯϲϰ͕Ϭϰϯ Ϭ͘Ϯϱ ͬϳ͕ϮϬϬƐĨ ϰϳ͘ϯϲϯ
ϯϱ͕ϳϰϬ ϰϴ͕Ϭϵϭ ϭϮϯ͕ϲϵϯ͕ϭϳϵ ϱϭ͕ϳϬϴ͘ϭϲϮ
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ΨϳϭϬ͕ϵϴϴ ͬ ϱϭ͕ϳϬϴ͘ϭϲϮ hΖƐ с Ψϭϯ͘ϳϱ ͬh
85 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϱ

dĂďůĞϴƐƵŵŵĂƌŝǌĞƐƚŚĞƚŽƚĂůĂƐƐĞƐƐŵĞŶƚƐƚŽďĞůĞǀŝĞĚďǇůĂŶĚƵ ƐĞ͘dŚĞƉĞƌĐĞŶƚĂŐĞŽĨĞĂĐŚůĂŶĚƵƐĞ͛Ɛ ĂƐƐĞƐƐŵĞŶƚŝŶƌĞůĂƚŝŽŶƚŽƚŚĞƚŽƚĂůĂƐƐĞƐƐŵĞŶƚŝƐĂůƐŽƐŚŽǁŶďĞůŽǁ͘ d>
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^ŝŶŐůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů ϭhǆϭhͬh с ϭ͘ϬϬϬ Ψϭϯ͘ϳϱ ŽŶĚŽŵŝŶŝƵŵ ϭhǆϬ͘ϱϴhͬh с Ϭ͘ϱϴϬ Ψϳ͘ϵϴ
DƵůƚŝƉůĞ&ĂŵŝůǇZĞƐŝĚĞŶƚŝĂů͗
ƵƉůĞǆ ϮhǆϬ͘ϱϲhͬh с ϭ͘ϭϮϬ Ψϭϱ͘ϰϬ
ϰͲƉůĞǆ ϰhǆϬ͘ϱϲhͬh с Ϯ͘ϮϰϬ ΨϯϬ͘ϴϬ
ϭϬͲhŶŝƚƉĂƌƚŵĞŶƚ ϭϬhǆϬ ͘ϱϲhͬh с ϱ͘ϲϬϬ Ψϳϳ͘ϬϬ DŽďŝůĞ,ŽŵĞWĂƌŬ͗
ϯϬ^ƉĂĐĞƐ ϯϬhǆϬ͘ϰϳ hͬh с ϭϰ͘ϭϬϬ Ψϭϵϯ͘ϴϴ
ϵϱ^ƉĂĐĞƐ ϵϱhǆϬ͘ϰϳ hͬh с ϰϰ͘ϲϱϬ Ψϲϭϯ͘ϵϰ
EŽŶƌĞƐŝĚĞŶƚŝĂů͗ ŵŝŶ͘ϭh
ϱ͕ϬϬϬƐĨEŽŶƌĞƐ ϭ͘ϬϬϬ Ψϭϯ͘ϳϱ
ϭϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϭϬ͕ϬϬϬƐĨǆϭhͬϳ͕ϮϬϬƐĨ с ϭ͘ϯϴϵ Ψϭϵ͘ϭϬ Ϯϱ͕ϬϬϬƐĨEŽŶƌĞƐ Ϯϱ͕ϬϬϬƐĨǆϭhͬϳ͕ϮϬϬƐĨ с ϯ͘ϰϳϮ Ψϰϳ͘ϳϰ ϱϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϱϬ͕ϬϬϬƐĨǆϭhͬϳ͕ϮϬϬƐĨ с ϲ͘ϵϰϰ Ψϵϱ͘ϰϴ EŽŶƉƌŽĨŝƚ͗ ŵŝŶ͘ϭh͕ŵĂǆ͘Ϯ͘ϲϴh
ϭϬ͕ϬϬϬƐĨEŽŶƉƌŽĨŝƚ ϭ͘ϬϬϬ Ψϭϯ͘ϳϱ
ϭϱ͕ϬϬϬƐĨEŽŶƉƌŽĨŝƚ ϭϱ͕ϬϬϬƐĨǆϬ͘ϲϳhͬϳ͕ϮϬϬƐĨ с ϭ͘ϯϵϲ Ψϭϵ͘ϮϬ Ϯϱ͕ϬϬϬƐĨEŽŶƉƌŽĨŝƚ Ϯϱ͕ϬϬϬƐĨǆϬ͘ϲϳhͬϳ͕ϮϬϬƐĨ с Ϯ͘ϯϮϲ Ψϯϭ͘ϵϴ ϱϬ͕ϬϬϬƐĨEŽŶƉƌŽĨŝƚ Ϯ͘ϲϴϬ Ψϯϲ͘ϴϱ
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ϭϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϭϬ͕ϬϬϬƐĨǆϬ͘ϱϬhͬϳ͕ϮϬϬƐĨ с Ϭ͘ϲϵϰ Ψϵ͘ϱϰ Ϯϱ͕ϬϬϬƐĨEŽŶƌĞƐ Ϯϱ͕ϬϬϬƐĨǆϬ͘ϱϬhͬϳ͕ϮϬϬƐĨ с ϭ͘ϳϯϲ ΨϮϯ͘ϴϳ ϱϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϱϬ͕ϬϬϬƐĨǆϬ͘ϱϬhͬϳ͕ϮϬϬƐĨ с ϯ͘ϰϳϮ Ψϰϳ͘ϳϰ sĂĐĂŶƚ͗
ϭϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϭϬ͕ϬϬϬƐĨǆϬ͘Ϯϱhͬϳ͕ϮϬϬƐĨ с Ϭ͘ϯϰϳ Ψϰ͘ϳϳ Ϯϱ͕ϬϬϬƐĨEŽŶƌĞƐ Ϯϱ͕ϬϬϬƐĨǆϬ͘Ϯϱhͬϳ͕ϮϬϬƐĨ с Ϭ͘ϴϲϴ Ψϭϭ͘ϵϰ ϱϬ͕ϬϬϬƐĨEŽŶƌĞƐ ϱϬ͕ϬϬϬƐĨǆϬ͘Ϯϱhͬϳ͕ϮϬϬƐĨ с ϭ͘ϳϯϲ ΨϮϯ͘ϴϳ 86 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
WĂƌŬDĂŝŶƚĞŶĂŶĐĞŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭϲ

EŽƚĞ͗ŵŽƵŶƚƐŝŶdĂďůĞϴĂƌĞƌŽƵŶĚĞĚƚŽǁŚŽůĞŶƵŵďĞƌƐĂŶĚŵĂǇďĞŽĨĨƐůŝŐŚƚůǇĚƵĞƚŽƌŽƵŶĚŝŶŐ͘
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90 Item 171/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: William E. Murray
Dept:

City Manager Dept: Public Works
Date: 5/13/2025

Subject: Approval of the Fiscal Year 2025-26 Downtown Assessment District Budget; Adoption of a Resolution Initiating Proceedings for the Levying of Assessments for Fiscal Year 2025-26; Adoption of a Resolution Approving the Engineer’s Report; and Adoption of a Resolution of Intention Fixing a Time and Date for a Public Hearing. (Action Item)

OBJECTIVE

For the City Council to (1) approve the proposed Fiscal Year 202 5-26 Budget for the Downtown Assessment District No. 1 (MSAD); (2) Adopt a Resolution initiating proceedings for the levying of assessments for Fiscal Year 2025-26; (3) Adopt a Resolution approving the Engineer’s Report; and (4) Adopt a Resolution of Intention fixing a time and date for a public hearing.

BACKGROUND

In 1977, the City Council formed the District per the Landscape and Lighting Act of 1972 (Act). Through an annual assessment, the District funds the construction and maintenance of special public improvements along Main Street such as planters, sidewalks, and streetlights. The Act requires that the City Council initiate the proceedings for the annual levy of assessments. To comply with these requirements, the following actions need to take place:
 Approval of FY25-26 assessment district budget (Attachment 1)  Adoption of a resolution initiating procedures for levying assessment (Attachment 2)
 Adoption of a resolution approving the Engineer’s Report (Attachment 3)  Adoption of a resolution of intention to levy and collect assessments and to fix a date and time for a public hearing (Attachment 4)

DISCUSSION

On May 9, 2025 , the Downtown Commission approved the FY25-26 Budget and is hereby submitting it to City Council for final review. Total expenses f or FY25-26 are $47,582. The proposed assessment reflects no increase from the previous year and remains at $19.92 per 91 Item 171/2025

Page 2 of 2 ends

linear-foot, which is equivalent to a $498 levy for the typical 25-foot storefront on Main Street.

The following action is for City Council to adopt the remaining resolutions, thereby initiating proceedings for the annual assessment, ordering the preparation of and approving an Engineer’s Report, and finally setting a public hearing for May 27, 2025, at 6:30 p.m.

FINANCIAL IMPACT

The FY202 5-26 assessment revenue as determined in the attached Engineer’s Report is $27,200. Estimated expenses for FY2025-26 is $47,582. The operating deficit of $20,382 will be covered by the existing fund balance of $67,300.

RECOMMENDATION

It is recommended that the City Council:
 Approve the proposed Budget for the Downtown Assessment District No. 1 for 2025-26;
 Adopt the attached Resolution initiating proceedings for the Downtown Assessment District No. 1, and direct the Engineer to prepare the required report;
 Adopt the attached Resolution approving the Engineer’s Report for the Downtown Assessment District No. 1; and
 Adopt the attached Resolution of Intention to levy and collect assessments for the Downtown Assessment District No. 1, and set a public hearing for May 27, 2025, at 6:30 p.m.

By: Alexa Viramontes, Sr. Administrative Analyst

ATTACHMENT(S)

1. FY025-26 Downtown Assessment Budget

2. Resolution Initiating Proceedings

3. Downtown Assessment Engineer's Report

4. Resolution Setting Public Hearing

92 93

GARDEN GROVE CITY COUNCIL
RESOLUTION NO. _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (SECTIONS 22500 ET SEQ. OF THE CALIFORNIA STREETS AND HIGHWAY CODE) INITIATING PROCEEDINGS TO LEVY ANNUAL ASSESSMENTS FOR THE 2025-26 FISCAL YEAR

FOR THE CITY OF GARDEN GROVE DOWNTOWN ASSESSMENT DISTRICT, AND

ORDERING THE CITY ENGINEER TO PREPARE AND FILE A REPORT IN ACCORDANCE WITH ARTICLE 4 OF CHAPTER 1 OF THE ACT

WHEREAS, the City Council of the City of Garden Grove formed the Downtown Assessment District by Resolution No. 5348-77 pursuant to the provisions of the Landscaping and Lighting Act of 1972, Division 15, Part 2 (commencing with Sections 22500 et seq.) of the California Streets and Highways Code; and WHEREAS, the Act require s that proceedings for the levy of annual assessments after the formation of an Assessment District shall be initiated by Resolution describing any proposed new improvements or any substantial changes in existing improvements, and ordering the City Engineer to prepare and file a report in accordance with Article 4 of Chapter 1 of the Act.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Garden Grove:

SECTION 1. The improvements, including maintenance thereof, have not changed substantially and are described as follows:

The maintenance of the public improvements within the boundaries of the Downtown Assessment District associated with street cleaning, landscape maintenance, and repair and replacement of the public improvements as required from time to time.

SECTION 2. The City Engineer is hereby ordered to prepare and file a report in accordance with Sections 22565 et seq. of the California Streets and Highways Code.

SECTION 3. The City Council of the City of Garden Grove authorizes staff to initiate proceedings necessary to establish the levy of an annual assessment for the Downtown Assessment District pursuant to the Landscaping and Lighting Act of 1972 for the Fiscal Year 2025-26.
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WƵƌƐƵĂŶƚƚŽƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ;WĂƌƚϮŝǀŝƐŝŽŶϭϱŽĨƚŚĞ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ ŽĨƚŚĞ^ƚĂƚĞŽĨĂůŝĨŽƌŶŝĂ͕ĐŽŵŵĞŶĐŝŶŐǁŝƚŚ^ĞĐƚŝŽŶϮϮϱϬϬͿ;͞Đ ƚ͟Ϳ͕ĂŶĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞŝƚǇŽĨ 'ĂƌĚĞŶ'ƌŽǀĞ͛ƐZĞƐŽůƵƚŝŽŶďĞŝŶŐĂĚŽƉƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĨŽƌ͗ KtEdKtE^^
^^D
Ed/^dZ/d
;,ĞƌĞŝŶĂĨƚĞƌƌĞĨĞƌƌĞĚƚŽĂƐƚŚĞ͞ŝƐƚƌŝĐƚ͟Ϳ͕
/͕ůŝƐŽŶŽƵůĞǇ͕ĂƵƚŚŽƌŝǌĞĚƌĞƉƌĞƐĞŶƚĂƚŝǀĞŽĨƚŚĞŝƐƚƌŝĐƚ͕ƚŚĞĚƵůǇĂƉƉŽŝŶƚĞĚƐƐĞƐƐŵĞŶƚ ŶŐŝŶĞĞƌƐƵďŵŝƚ
ƚŚĞĨŽůůŽǁŝŶŐZĞƉŽƌƚǁŚŝĐŚĐŽŶƐŝƐƚƐŽĨƚŚĞĨŽůůŽǁŝŶŐĨŽƵƌ;ϰͿƉĂƌƚƐĂŶĚƉƉĞŶĚŝĐĞƐ͗ WZd/
KǀĞƌǀŝĞǁ͗WƌŽǀŝĚĞƐƚŚĞďĂĐŬŐƌŽƵŶĚĂŶĚƌĞĂƐŽŶĨŽƌƚŚĞŝƐƚƌŝĐƚ͘ WZd//
WůĂŶƐ ĂŶĚ ^ƉĞĐŝĨŝĐĂƚŝŽŶƐ͗ WůĂŶƐ ĂŶĚ ƐƉĞĐŝĨŝĐĂƚŝŽŶƐ ĨŽƌ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐ ƐŚŽǁŝŶŐ ĂŶĚ ĚĞƐĐƌŝďŝŶŐ ƚŚĞ ŐĞŶĞƌĂůŶĂƚƵƌĞ͕ůŽĐĂƚŝŽŶĂŶĚĞǆƚĞŶƚŽĨƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘ WZd///
ŽƐƚ
ƐƚŝŵĂƚĞ͗ dŚĞ ĞƐƚŝŵĂƚĞĚ ĐŽƐƚ ƚŽ ďĞ ĨƵŶĚĞĚ ďǇ ƚŚĞ ŝƐƚƌŝĐƚ ĨŽƌ ƚŚĞ ŽƉĞƌĂƚ ŝŽŶ͕ ƐĞƌǀŝĐŝŶŐ ĂŶĚ ŵĂŝŶƚĞŶĂŶĐĞ ŽĨ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐĨŽƌ ĨŝƐĐĂů ǇĞĂƌ ϮϬϮϱͲϮϲ͕ ŝŶĐůƵĚŝŶŐ ŝŶĐŝĚĞŶƚĂů ĐŽƐƚƐ ĂŶĚ ĞǆƉĞŶƐĞƐ ŝŶ 97
ŝŝ
ĐŽŶŶĞĐƚŝŽŶƚŚĞƌĞǁŝƚŚ͘
WZd/s
DĞƚŚŽĚ ŽĨ ƉƉŽƌƚŝŽŶŵĞŶƚ͗ dŚĞ ŵĞƚŚŽĚ ŽĨ ĂƉƉŽƌƚŝŽŶŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚƐ ŝŶĚŝĐĂƚĞƐ ƚŚĞ ƉƌŽƉŽ ƐĞĚ ĂƐƐĞƐƐŵĞŶƚ ŽĨ ƚŚĞ ŶĞƚ ĂŵŽƵŶƚ ŽĨ ƚŚĞ ĐŽƐƚƐ ĂŶĚ ĞǆƉĞŶƐĞƐ ŽĨ ƚŚĞ ŵĂŝŶƚĞŶĂŶĐĞ ĂŶĚͬŽƌ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚŚĞ ĞǆŝƐƚŝŶŐĂŶĚƵůƚŝŵĂƚĞŝŵƉƌŽǀĞŵĞŶƚƐƚŽďĞĂƐƐĞƐƐĞĚƵƉŽŶƚŚĞƐĞǀĞ ƌĂůůŽƚƐĂŶĚƉĂƌĐĞůƐŽĨůĂŶĚǁŝƚŚŝŶƚŚĞ ƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚƐƉĞĐŝĂůďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚďǇƐƵĐŚůŽƚƐĂŶĚƉĂƌĐĞůƐ͘ ƉƉĞŶĚŝĐĞƐ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚŝĂŐƌĂŵ
ƉƉĞŶĚŝǆʹƐƐĞƐƐŵĞŶƚZŽůů

/ŶĐŽŶĐůƵƐŝŽŶ͕ŝƚŝƐŵǇŽƉŝŶŝŽŶ ƚŚĂƚƚŚĞĐŽƐƚƐĂŶĚĞǆƉĞŶƐĞƐŽĨ ƚŚĞŝƐƚƌŝĐƚŚĂǀĞďĞĞŶĂƐƐĞƐƐĞĚƚŽƚŚĞůŽƚƐ ĂŶĚƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƚŚĞŝƐƚƌŝĐƚŝŶƉƌŽƉŽƌƚŝŽŶ ƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨŝƚƐƚŽďĞƌĞĐĞŝǀĞĚ ďǇĞĂĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞƐĞƌǀŝĐĞƐƉƌŽǀŝĚĞĚĂŶĚŝŶĐŽŶĨŽƌŵ ĂŶĐĞǁŝƚŚƚŚĞĂƐƐĞƐƐŵĞŶƚŵĞƚŚŽĚŽůŽŐǇ ĂĚŽƉƚĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĨŽƌƚŚĞůĞǀǇŝŶŐŽĨĂƐƐĞƐƐŵĞŶƚƐ͘ d
͗Ɖƌŝůϭϳ͕ϮϬϮϱ

ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ
ů ŝ Ɛ Ž Ŷ Ž Ƶ ů Ğ Ǉ ͕ W ͘
͘ ͕ Ɛ Ɛ Ğ Ɛ Ɛ ŵ Ğ Ŷ ƚ
Ŷ Ő ŝ Ŷ Ğ Ğ ƌ
Z ͘ ͘
͘ E Ž ͘ ϲϭϯϴϯ

Ŷ Ő ŝ Ŷ Ğ Ğ ƌ Ž Ĩ t Ž ƌ Ŭ
Ž Ƶ Ŷ ƚ Ǉ Ž Ĩ K ƌ Ă Ŷ Ő Ğ
^ ƚ Ă ƚ Ğ Ž Ĩ Ă ů ŝ Ĩ Ž ƌ Ŷ ŝ Ă

98 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϭ
WZd/ʹKs
Zs/
t
dŚŝƐZĞƉŽƌƚŚĂƐďĞĞŶƉƌĞƉĂƌĞĚĂŶĚŝƐƐƵďŵŝƚƚĞĚĨŽƌĐŽŶƐŝĚĞƌĂƚŝŽŶďǇƚŚĞŝƚǇŽƵŶĐŝůŽĨƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ 'ƌŽǀĞƵŶĚĞƌƚŚĞĂƵƚŚŽƌŝƚǇŽĨƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮĂƐƐĞƚĨŽƌƚŚŝŶWĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱ ŽĨƚŚĞĂůŝĨŽƌŶŝĂ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ͘
ĂĐŬŐƌŽƵŶĚ
/Ŷϭϵϳϳ͕ƚŚĞŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞĨŽƌŵĞĚƚŚĞDĂŝŶ^ƚƌĞĞƚƐƐĞƐƐ ŵĞŶƚŝƐƚƌŝĐƚ;D^ͿEŽ͘ϭƚŽƉƌŽǀŝĚĞ ĨƵŶĚƐĨŽƌƚŚĞĐŽŶƐƚƌƵĐƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞŽĨƐƉĞĐŝĂůƉƵďůŝĐŝŵ ƉƌŽǀĞŵĞŶƚƐĂůŽŶŐDĂŝŶ^ƚƌĞĞƚ͘dŚŽƐĞ ŝŶĐůƵĚĞ ƉůĂŶƚĞƌƐ͕ ƚƌĞĞƐ͕ ƐƚƌĞĞƚƐĐĂƉŝŶŐ͕ ƐŝĚĞǁĂůŬƐ͕ ďĞŶĐŚĞƐ͕ ƚƌĂ ƐŚ ƌĞĐĞƉƚĂĐůĞƐ͕ ĚƌŝŶŬŝŶŐ ĨŽƵŶƚĂŝŶƐ͕ ƐƚƌĞĞƚůŝŐŚƚƐ͕ĚƌĂŝŶĂŐĞ͕ĂŶĚďŽůůĂƌĚƐ͘
&ŽůůŽǁŝŶŐ ĨŽƌŵĂƚŝŽŶ ŽĨ ƚŚĞ ŝƐƚƌŝĐƚ͕ ĂƐƐĞƐƐŵĞŶƚƐ ǁĞƌĞ ĂĚũƵƐƚĞĚ ƉĞƌŝŽĚŝĐĂůůǇ ĂƐ ƚŚĞ ĐŽƐƚ ŽĨ ƉƌŽǀŝĚŝŶŐ ƐĞƌǀŝĐĞƐ ŝŶĐƌĞĂƐĞĚ͘ dŚĞ ĐƵƌƌĞŶƚ ĂƐƐĞƐƐŵĞŶƚ ƌĂƚĞ ŚĂƐ ŶŽƚ ďĞĞŶ ŝŶ ĐƌĞĂƐĞĚ ƐŝŶĐĞ ϭϵϴϵ͘ dŚĞ ĞǆŝƐƚŝŶŐ ĂƐƐĞƐƐŵĞŶƚǁĂƐĚĞĞŵĞĚƚŽďĞĞǆĞŵƉƚĨƌŽŵƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐƐĞƚĨŽ ƌƚŚŝŶ^ĞĐƚŝŽŶϰŽĨƌƚŝĐůĞy///ďǇ ^ĞĐƚŝŽŶϱ;ĂͿĨŽůůŽǁŝŶŐƚŚĞƉĂƐƐĂŐĞŽĨWƌŽƉϮϭϴŝŶϭϵϵϲǁŚŝĐŚĂĚĚĞĚƌƚŝĐůĞy///ƚŽƚŚĞ^ƚĂƚĞŽŶƐƚŝƚƵƚŝŽŶ͘ ŶǇŝŶĐƌĞĂƐĞƚŽƚŚĞĐƵƌƌĞŶƚĂƐƐĞƐƐŵĞŶƚĂĨƚĞƌ:ƵůǇϭ͕ϭϵϵϳŝƐƐƵ ďũĞĐƚƚŽƚŚĞƌĞƋƵŝƌĞŵĞŶƚƐŽĨ^ĞĐƚŝŽŶϰĂŶĚ ŵĂǇŶŽƚďĞŝŶĐƌĞĂƐĞĚǁŝƚŚŽƵƚƚŚĞĂƉƉƌŽǀĂůŽĨƚŚĞƉƌŽƉĞƌƚǇŽǁŶĞƌ ƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚ͘ dŚĞĂƐƐĞƐƐŵĞŶƚƌĂƚĞǁĂƐƉƌŽƉŽƐĞĚƚŽďĞŝŶĐƌĞĂƐĞĚĨŽƌ&ŝƐĐĂůzĞĂƌϮϬϬϰͲϬϱƚŽŬĞĞƉƵƉǁŝƚŚƚŚĞƌŝƐŝŶŐĐŽƐƚƐ ĂŶĚƚŚĞŚŝŐŚĞƌůĞǀĞůƐŽĨŵĂŝŶƚĞŶĂŶĐĞƌĞƋƵĞƐƚĞĚďǇƚŚĞďƵƐŝŶĞƐƐĞƐǁŝƚŚŝŶƚŚŝƐƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ͘ EŽƚŝĐĞƐĂŶĚďĂůůŽƚƐǁĞƌĞŵĂŝůĞĚƚŽĂůůƉƌŽƉĞƌƚǇŽǁŶĞƌƐŝŶƚŚĞŝƐƚƌŝĐƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ^ĞĐƚŝŽŶϰ͕ƌƚŝĐůĞ y///ŽĨƚŚĞĂůŝĨŽƌŶŝĂ^ƚĂƚĞŽŶƐƚŝƚƵƚŝŽŶ;WƌŽƉŽƐŝƚŝŽŶϮϭϴͿ͘K Ŷ:ƵŶĞϴ͕ϮϬϬϰ͕ƚŚĞƉƵďůŝĐŚĞĂƌŝŶŐǁĂƐŚĞůĚ͕ ƚŚĞďĂůůŽƚƐǁĞƌĞƚĂďƵůĂƚĞĚ͕ĂŶĚƚŚĞƉƌŽƉĞƌƚǇŽǁŶĞƌƐƌĞũĞĐƚĞĚƚŚĞƉƌŽƉŽƐĞĚĂƐƐĞƐƐŵĞŶƚŝŶĐƌĞĂƐĞ͘ dŚĞƌĞĨŽƌĞ͕ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚƐ ǁŝůů ƌĞŵĂŝŶ ƚŚĞ ƐĂŵĞ ŝŶ &ŝƐĐĂů zĞĂƌϮϬϮϱͲϮϲ ĂƐ ŝŶ ƉƌĞǀŝŽƵƐ ǇĞĂƌƐ ĂŶĚ ƚŚĞ ƐĞƌǀŝĐĞƐĨƵŶĚĞĚďǇƚŚĞĂƐƐĞƐƐŵĞŶƚŚĂǀĞďĞĞŶĂĚũƵƐƚĞĚƚŽŵĂƚĐŚƚŚĞĨƵŶĚƐĂǀĂŝůĂďůĞ͘EŽŝƚǇĐŽŶƚƌŝďƵƚŝŽŶ ŝƐŵĂĚĞƚŽƚŚŝƐŝƐƚƌŝĐƚ͘
/ŶƚŚĞĨĂůůŽĨϮϬϭϳ͕ŽƵŶĐŝůĂƉƉƌŽǀĞĚĐŚĂŶŐŝŶŐƚŚĞŶĂŵĞŽĨƚŚĞ ĚŝƐƚƌŝĐƚĨƌŽŵ͞DĂŝŶ^ƚƌĞĞƚƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚEŽ͘ϭ͟ƚŽ͞ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ͘͟

99 ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

Ϯ
WZd//ʹW>E^E^W
/&/d/KE^
dŚĞ ĨĂĐŝůŝƚŝĞƐ͕ ǁŚŝĐŚ ŚĂǀĞ ďĞĞŶ ĐŽŶƐƚƌƵĐƚĞĚ ǁŝƚŚŝŶ ƚŚĞ ŝƚǇ ŽĨ'ĂƌĚĞŶ 'ƌŽǀĞ͕ ĂŶĚ ƚŚŽƐĞ ǁŚŝĐŚ ŵĂǇ ďĞ ƐƵďƐĞƋƵĞŶƚůǇĐŽŶƐƚƌƵĐƚĞĚ͕ǁŝůůďĞƐĞƌǀŝĐĞĚĂŶĚŵĂŝŶƚĂŝŶĞĚĂƐŐĞ ŶĞƌĂůůǇĚĞƐĐƌŝďĞĚĂƐĨŽůůŽǁƐ͗ƉŽƌƚŝŽŶ ŽĨDĂŝŶ^ƚƌĞĞƚĨƌŽŵ'ĂƌĚĞŶ'ƌŽǀĞŽƵůĞǀĂƌĚƚŽĐĂĐŝĂWĂƌŬǁĂǇĂŶĚĂƉŽƌƚŝŽŶŽĨ'ĂƌĚĞŶ'ƌŽǀĞŽƵůĞǀĂƌĚ ďĞƚǁĞĞŶϭϱϬ͘ϭϲĨĞĞƚǁĞƐƚŽĨƚŚĞĐĞŶƚĞƌůŝŶĞŽĨDĂŝŶ^ƚƌĞĞƚĂŶĚϭϱϬ͘ϬϲĨĞĞƚĞĂƐƚŽĨƚŚĞĐĞŶƚĞƌůŝŶĞŽĨDĂŝŶ ^ƚƌĞĞƚ͕ĂůůďĞŝŶŐǁŝƚŚŝŶƐĂŝĚŝƐƚƌŝĐƚ͘
ĞƐĐƌŝƉƚŝŽŶƐŽĨ/ŵƉƌŽǀĞŵĞŶƚƐ
dŚĞĨĂĐŝůŝƚŝĞƐƚŽďĞŵĂŝŶƚĂŝŶĞĚĂŶĚƐĞƌǀŝĐĞĚĨŽƌƚŚĞŝƐƚƌŝĐƚĂ ƐĚĞƐĐƌŝďĞĚĂƐĨŽůůŽǁƐ͗&ĂĐŝůŝƚŝĞƐŝŶĐůƵĚĞďƵƚ ĂƌĞŶŽƚůŝŵŝƚĞĚƚŽ͗ƐƚƌĞĞƚƐĐĂƉĞŝŵƉƌŽǀĞŵĞŶƚƐŝŶĐůƵĚŝŶŐƐŝĚĞǁĂůŬƐ͕ĚĞĐŽƌĂƚŝǀĞƉĂǀŝŶŐ͕ƐƚƌĞĞƚůŝŐŚƚƐ͕ƐƚƌĞĞƚ ƚƌĞĞƐ͕ ĂŶĚ ƐƚƌĞĞƚ ĨƵƌŶŝƚƵƌĞ͕ ŝŶĐůƵĚŝŶŐ ďŽůůĂƌĚƐ͕ ďĞŶĐŚĞƐ͕ ƚƌĂƐŚ ƌĞĐĞƉƚĂĐůĞƐ͕ ĚƌŝŶŬŝŶŐ ĨŽƵŶƚĂŝŶƐ͕ ŵŝƐĐĞůůĂŶĞŽƵƐƉůĂŶƚĞƌƐ͕ĂŶĚƌĞůĂƚĞĚŝƚĞŵƐǁŝƚŚŝŶƚŚĞďŽƵŶĚĂƌŝĞƐŽĨƐĂŝĚŝƐƚƌŝĐƚ͘ DĂŝŶƚĞŶĂŶĐĞ ŵĞĂŶƐ ƚŚĞ ĨƵƌŶŝƐŚŝŶŐ ŽĨ ƐĞƌǀŝĐĞƐ ĂŶĚ ŵĂƚĞƌŝĂůƐ ĨŽƌƚŚĞ ŽƌĚŝŶĂƌǇ ĂŶĚ ƵƐƵĂů ŵĂŝŶƚĞŶĂŶĐĞ͕ ŽƉĞƌĂƚŝŽŶ ĂŶĚ ƐĞƌǀŝĐŝŶŐ ŽĨ ƚŚĞ ůĂŶĚƐĐĂƉŝŶŐ ĂŶĚ ĂƉƉƵƌƚĞŶĂŶƚ ĨĂĐŝ ů ŝ ƚ ŝ Ğ Ɛ ͕ ŝ Ŷ Đ ů Ƶ Ě ŝ Ŷ Ő ƌ Ğ Ɖ Ă ŝ ƌ ͕ ƌ Ğ ŵ Ž ǀ Ă ů Ž ƌ ƌĞƉůĂĐĞŵĞŶƚŽĨĂůůŽƌƉĂƌƚŽĨĂŶǇŽĨƚŚĞůĂŶĚƐĐĂƉŝŶŐŽƌĂƉƉƵƌƚĞŶĂŶƚĨĂĐŝůŝƚŝĞƐ͖ƉƌŽǀŝĚŝŶŐĨŽƌƚŚĞůŝĨĞ͕ŐƌŽǁƚŚ͕ ŚĞĂůƚŚĂŶĚďĞĂƵƚǇŽĨƚŚĞůĂŶĚƐĐĂƉŝŶŐ͕ŝŶĐůƵĚŝŶŐĐƵůƚŝǀĂƚŝŽŶ͕ŝƌ ƌŝŐĂƚŝŽŶ͕ƚƌŝŵŵŝŶŐ͕ƐƉƌĂǇŝŶŐ͕ĨĞƌƚŝůŝǌŝŶŐĂŶĚ ƚƌĞĂƚŝŶŐĨŽƌĚŝƐĞĂƐĞŽƌŝŶũƵƌǇ͖ƚŚĞƌĞŵŽǀĂůŽĨƚƌŝŵŵŝŶŐƐ͕ƌƵďďŝ ƐŚ͕ĚĞďƌŝƐĂŶĚŽƚŚĞƌƐŽůŝĚǁĂƐƚĞ͖ĂŶĚƚŚĞ ĐůĞĂŶŝŶŐ͕ƐĂŶĚďůĂƐƚŝŶŐ͕ĂŶĚƉĂŝŶƚŝŶŐŽĨǁĂůůƐĂŶĚŽƚŚĞƌŝŵƉƌŽǀĞŵĞŶƚƐƚŽƌĞŵŽǀĞŽƌĐŽǀĞƌŐƌĂĨĨŝƚŝ͘ ^ĞƌǀŝĐŝŶŐŵĞĂŶƐƚŚĞĨƵƌŶŝƐŚŝŶŐŽĨǁĂƚĞƌĨŽƌƚŚĞŝƌƌŝŐĂƚŝŽŶŽĨƚ ŚĞůĂŶĚƐĐĂƉŝŶŐĂŶĚƚŚĞŵĂŝŶƚĞŶĂŶĐĞŽĨĂŶǇ ŽĨƚŚĞůŝŐŚƚŝŶŐĨĂĐŝůŝƚŝĞƐŽƌĂƉƉƵƌƚĞŶĂŶƚĨĂĐŝůŝƚŝĞƐĂŶĚƚŚĞĨƵ ƌŶŝƐŚŝŶŐŽĨĞůĞĐƚƌŝĐĐƵƌƌĞŶƚŽƌĞŶĞƌŐǇ͕ŐĂƐŽƌ ŽƚŚĞƌŝůůƵŵŝŶĂƚŝŶŐĂŐĞŶƚĨŽƌƚŚĞůŝŐŚƚŝŶŐĨĂĐŝůŝƚŝĞƐ͕ŽƌĨŽƌƚŚ ĞůŝŐŚƚŝŶŐŽƌŽƉĞƌĂƚŝŽŶŽĨƚŚĞůĂŶĚƐĐĂƉŝŶŐŽƌ ĂƉƉƵƌƚĞŶĂŶƚĨĂĐŝůŝƚŝĞƐ͘
dŚĞƉůĂŶƐĂŶĚƐƉĞĐŝĨŝĐĂƚŝŽŶƐĨŽƌƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͕ƐŚŽǁŝŶŐĂŶĚ ĚĞƐĐƌŝďŝŶŐƚŚĞŐĞŶĞƌĂůŶĂƚƵƌĞ͕ůŽĐĂƚŝŽŶ͕ ĂŶĚ ƚŚĞ ĞǆƚĞŶƚ ŽĨ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐ͕ ĂƌĞ ŽŶ ĨŝůĞ ŝŶ ƚŚĞ ŽĨĨŝĐĞ ŽĨ ƚ Ś Ğ ŝ ƌ Ğ Đ ƚ Ž ƌ Ž Ĩ W Ƶ ď ů ŝ Đ t Ž ƌ Ŭ Ɛ Ă Ŷ Ě Ă ƌ Ğ ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘

100

ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϯ
WZd///ʹK^d
^d/Dd

dŚĞŝƚǇΖƐďƵĚŐĞƚĨŽƌƚŚĞŽƉĞƌĂƚŝŽŶ͕ŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐ ŽĨůŝŐŚƚŝŶŐĚĞƚĂŝůƐƚŚĞĞƐƚŝŵĂƚĞĚĐŽƐƚƐĨŽƌ &ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲĂƐĂǀĂŝůĂďůĞ ĂƚƚŚĞƚŝŵĞŽĨƉƌĞƉĂƌĂƚŝŽŶŽĨ ƚŚŝƐZĞƉŽƌƚ͕ĂŶĚŝŶĐůƵĚĞƐĞŶŐŝŶĞĞƌŝŶŐĨĞĞƐ͕ ůĞŐĂůĨĞĞƐ͕ƉƌŝŶƚŝŶŐ͕ ŵĂŝůŝŶŐ͕ƉŽƐƚĂŐĞ͕ƉƵďůŝƐŚŝŶŐ͕ĂŶĚĂůůŽƚŚ ĞƌƌĞůĂƚĞĚĐŽƐƚƐŝĚĞŶƚŝĨŝĞĚǁŝƚŚƚŚĞŝƐƚƌŝĐƚ ƉƌŽĐĞĞĚŝŶŐƐ͘

dŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐƚŚĂƚĂƐƉĞĐŝĂůĨƵŶĚďĞƐĞƚͲƵƉĨŽƌƚŚĞƌĞǀĞŶƵĞƐĂŶĚĞǆƉĞŶĚŝƚƵƌĞƐŽĨƚŚĞŝƐƚƌŝĐƚ͘dŚĞ ϭϵϳϮĐƚĂůƐŽŚĂƐƉƌŽǀŝƐŝŽŶƐĨŽƌĞƐƚĂďůŝƐŚŝŶŐĂƐĞƉĂƌĂƚĞƌĞƐĞƌǀ ĞƚŽĨƵŶĚĐĂƉŝƚĂůŝŵƉƌŽǀĞŵĞŶƚƐĂƐƉĂƌƚŽĨ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚ͘ &ƵŶĚƐ ƌĂŝƐĞĚ ďǇ ĂƐƐĞƐƐŵĞŶƚ ƐŚĂůů ďĞ ƵƐĞĚ ŽŶůǇ ĨŽƌ ƚŚĞ ƉƵƌƉŽƐĞ ĂƐ ƐƚĂƚĞĚ ŚĞƌĞŝŶ͘ ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞŝƐƚƌŝĐƚďǇ ƚŚĞŝƚǇŵĂǇďĞŵĂĚĞƚŽƌĞĚƵĐĞ ĂƐƐĞƐƐŵĞŶƚƐ͕ĂƐƚŚĞŝƚǇŽƵŶĐŝůĚĞĞŵƐ ĂƉƉƌŽƉƌŝĂƚĞ͘ŶǇďĂůĂŶĐĞŽƌĚĞĨŝĐŝƚƌĞŵĂŝŶŝŶŐŽŶ:ƵůǇϭŵƵƐƚďĞĐĂƌƌŝĞĚŽǀĞƌƚŽƚŚĞŶĞǆƚĨŝƐĐĂůǇĞĂƌ͘ WƌŽƉŽƐĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϰͲϮϱ
WƌŽƉŽƐĞĚ
&ŝƐĐĂůzĞĂƌ
ϮϬϮϱͲϮϲΎ
^ƚĂƌƚŝŶŐ&ƵŶĚĂůĂŶĐĞ;&ƵŶĚĂůĂŶĐĞĂƐŽĨ:ƵůǇϭͿ ΨϲϬ͕ϴϬϬ Ψϲϳ͕ϯϬϬ

ƐƚŝŵĂƚĞĚZĞǀĞŶƵĞƐ
dŽƚĂů
ƐƚŝŵĂƚĞĚƐƐĞƐƐŵĞŶƚƐ͗ ΨϮϲ͕ϳϬϬ ΨϮϲ͕ϳϬϬ
/ŶƚĞƌĞƐƚ ΨϱϬϬ ΨϱϬϬ
^ƵďƚŽƚĂůZĞǀĞŶƵĞƐ͗ ΨϮϳ͕ϮϬϬ ΨϮϳ͕ϮϬϬ

ƐƚŝŵĂƚĞĚ
ǆƉĞŶĚŝƚƵƌĞƐ
dƌĂƐŚWŝĐŬhƉ ΨϬ ΨϬ
'ĞŶĞƌĂůDĂŝŶƚĞŶĂŶĐĞ ΨϮϬ͕ϱϬϬ ΨϮϬ͕ϱϬϬ
^ƚƌĞĞƚ>ŝŐŚƚŝŶŐ Ψϯ͕ϬϬϬ Ψϯ͕ϬϬϬ
^ƚƌĞĞƚ/ŵƉƌŽǀĞŵĞŶƚƐ ΨϭϬ͕ϲϬϵ ΨϭϬ͕ϲϬϵ
DĂŝŶ^ƚƌĞĞƚ^ĞĂƐŽŶĂůĂŶŶĞƌƐ Ψϯ͕ϭϴϯ Ψϯ͕ϭϴϯ
^ƚƌĞĞƚƐĐĂƉĞůĞĂŶŝŶŐ Ψϲ͕ϳϵϬ Ψϲ͕ϳϵϬ
WƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐ Ψϯ͕ϱϬϬ Ψϯ͕ϱϬϬ
ĚŵŝŶŝƐƚƌĂƚŝǀĞ^ƵƉƉŽƌƚ ΨϬ ΨϬ
/ŶƐƵƌĂŶĐĞ ΨϬ ΨϬ
^ƵďƚŽƚĂů
ǆƉĞŶĚŝƚƵƌĞƐ͗ Ψϰϳ͕ϱϴϮ Ψϰϳ͕ϱϴϮ

ƐƚŝŵĂƚĞĚzĞĂƌ
ŶĚ&ƵŶĚĂůĂŶĐĞ ΨϰϬ͕ϰϭϴ Ψϰϲ͕ϵϭϴ
&ƵŶĚĂůĂŶĐĞĞƚĂŝů
KƉĞƌĂƚŝŶŐZĞƐĞƌǀĞ;ϱϬйŽĨKΘDͿ ΨϮϯ͕ϳϵϭ
ĂƉŝƚĂůZĞƉůĂĐĞŵĞŶƚZĞƐĞƌǀĞ ΨϮϯ͕ϭϮϳ
ƐƐĞƐƐŵĞŶƚĞƚĂŝů
dŽƚĂů&ƌŽŶƚ&ĞĞƚ;&&ͿŝŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ͗ ϭ͕ϯϰϬ͘ϰϱ ϭ͕ϯϰϬ͘ϰϱ ƐƐĞƐƐŵĞŶƚZĂƚĞ;Ψͬ&&Ϳ͗ Ψϭϵ͘ϵϮ Ψϭϵ͘ϵϮ
Ύ&ƵŶĚďĂůĂŶĐĞĂĚũƵƐƚĞĚĂĨƚĞƌĂŝƐƚƌŝĐƚƌĞǀŝĞǁ
101

ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϰ
WZd/sʹD
d,KK&WWKZd/KED
Ed
'ĞŶĞƌĂů
WĂƌƚϮŽĨŝǀŝƐŝŽŶϭϱŽĨƚŚĞ^ƚƌĞĞƚƐĂŶĚ,ŝŐŚǁĂǇƐŽĚĞ͕ƚŚĞ>ĂŶĚƐĐĂƉŝŶŐĂŶĚ>ŝŐŚƚŝŶŐĐƚŽĨϭϵϳϮ͕ƉĞƌŵŝƚƐ ƚŚĞ ĞƐƚĂďůŝƐŚŵĞŶƚ ŽĨ ĂƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚƐ ďǇ ĐŝƚŝĞƐ ĨŽƌ ƚŚĞ ƉƵƌ ƉŽƐĞ ŽĨ ƉƌŽǀŝĚŝŶŐ ĐĞƌƚĂŝŶ ƉƵďůŝĐ ŝŵƉƌŽǀĞŵĞŶƚƐǁŚŝĐŚŝŶĐůƵĚĞƚŚĞŵĂŝŶƚĞŶĂŶĐĞĂŶĚƐĞƌǀŝĐŝŶŐŽĨƐƚƌ ĞĞƚůŝŐŚƚƐ͕ƚƌĂĨĨŝĐƐŝŐŶĂůƐ͕ůĂŶĚƐĐĂƉŝŶŐ͕ ƉĂƌŬƐĂŶĚƌĞĐƌĞĂƚŝŽŶĂůĨĂĐŝůŝƚŝĞƐ͘
dŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐƚŚĂƚŵĂŝŶƚĞŶĂŶĐĞĂƐƐĞƐƐŵĞŶƚƐďĞůĞǀŝĞĚĂĐĐŽƌĚŝŶŐƚŽďĞŶĞĨŝƚƌĂƚŚĞƌƚŚĂŶĂĐĐŽƌĚŝŶŐ ƚŽĂƐƐĞƐƐĞĚǀĂůƵĞ͘^ĞĐƚŝŽŶϮϮϱϳϯƉƌŽǀŝĚĞƐƚŚĂƚ͗
dŚĞ ŶĞƚ ĂŵŽƵŶƚ ƚŽ ďĞ ĂƐƐĞƐƐĞĚ ƵƉŽŶ ůĂŶĚƐ ǁŝƚŚŝŶ ĂŶ ĂƐƐĞƐƐŵĞŶƚ ŝƐƚƌŝĐƚ ŵĂǇ ďĞ ĂƉƉŽƌƚŝŽŶĞĚďǇĂŶǇĨŽƌŵƵůĂŽƌŵĞƚŚŽĚǁŚŝĐŚĨĂŝƌůǇĚŝƐƚƌŝďƵƚĞƐƚŚĞŶĞƚĂŵŽƵŶƚĂŵŽŶŐĂůů ĂƐƐĞƐƐĂďůĞůŽƚƐŽƌƉĂƌĐĞůƐŝŶƉƌŽƉŽƌƚŝŽŶƚŽƚŚĞĞƐƚŝŵĂƚĞĚďĞŶĞĨ ŝƚƚŽďĞƌĞĐĞŝǀĞĚďǇĞĂĐŚ ƐƵĐŚůŽƚŽƌƉĂƌĐĞůĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐ͘
dŚĞĐƚƉĞƌŵŝƚƐƚŚĞĚĞƐŝŐŶĂƚŝŽŶŽĨĂƌĞĂƐŽĨďĞŶĞĨŝƚǁŝƚŚŝŶĂŶǇŝŶĚŝǀŝĚƵĂůĂƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚŝĨΗďǇƌĞĂƐŽŶƐ Žƌ ǀĂƌŝĂƚŝŽŶƐ ŝŶ ƚŚĞ ŶĂƚƵƌĞ͕ ůŽĐĂƚŝŽŶ͕ ĂŶĚ ĞǆƚĞŶƚ ŽĨ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐ͕ ƚŚĞ ǀĂƌŝŽƵƐ ĂƌĞĂƐ ǁŝůů ƌĞĐĞŝǀĞ ĚŝĨĨĞƌĞŶƚĚĞŐƌĞĞƐŽĨďĞŶĞĨŝƚĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚΗ;^ĞĐ͘ϮϮϱϳϰͿ͘dŚƵƐ͕ƚŚĞϭϵϳϮĐƚƌĞƋƵŝƌĞƐƚŚĞůĞǀǇŽĨ ĂƚƌƵĞΗĂƐƐĞƐƐŵĞŶƚΗƌĂƚŚĞƌƚŚĂŶĂΗƐƉĞĐŝĂůƚĂǆ͘Η
/ŶĂĚĚŝƚŝŽŶ͕WƌŽƉŽƐŝƚŝŽŶϮϭϴ͕ƚŚĞ͞ZŝŐŚƚƚŽsŽƚĞŽŶdĂǆĞƐĐƚ͟ǁŚŝĐŚǁĂƐĂƉƉƌŽǀĞĚŽŶƚŚĞEŽǀĞŵďĞƌϭϵϵϲ ƐƚĂƚĞǁŝĚĞďĂůůŽƚĂŶĚĂĚĚĞĚƌƚŝĐůĞy///ƚŽƚŚĞĂůŝĨŽƌŶŝĂŽŶƐƚŝƚƵƚŝŽŶ͕ƌĞƋƵŝƌĞƐƚŚĂƚĂƉĂƌĐĞů͛ƐĂƐƐĞƐƐŵĞŶƚ ŵĂǇŶŽƚĞǆĐĞĞĚƚŚĞƌĞĂƐŽŶĂďůĞĐŽƐƚĨŽƌƚŚĞƉƌŽƉŽƌƚŝŽŶĂůƐƉĞĐŝĂůďĞŶĞĨŝƚĐŽŶĨĞƌƌĞĚŽŶƚŚĂƚƉĂƌĐĞů͘ƌƚŝĐůĞ y///ƉƌŽǀŝĚĞƐƚŚĂƚŽŶůǇƐƉĞĐŝĂůďĞŶĞĨŝƚƐĂƌĞĂƐƐĞƐƐĂďůĞĂŶĚƚŚ ĞŝƚǇŵƵƐƚƐĞƉĂƌĂƚĞƚŚĞŐĞŶĞƌĂůďĞŶĞĨŝƚƐ Ĩ ƌ Ž ŵ ƚ Ś Ğ Ɛ Ɖ Ğ Đ ŝ Ă ů ď Ğ Ŷ Ğ Ĩ ŝ ƚ Ɛ ͘ / ƚ Ă ů Ɛ Ž ƌ Ğ Ƌ Ƶ ŝ ƌ Ğ Ɛ ƚ Ś Ă ƚ Ɖ Ƶ ď ů ŝ Đ ů Ǉ Ž ǁ Ŷ ĞĚ ƉƌŽƉĞƌƚŝĞƐ ǁŚŝĐŚ ďĞŶĞĨŝƚ ĨƌŽŵ ƚŚĞ ŝŵƉƌŽǀĞŵĞŶƚƐďĞĂƐƐĞƐƐĞĚ͘
/ Ĩ ƚ Ś Ğ Ă Ɛ Ɛ Ğ Ɛ Ɛ ŵ Ğ Ŷ ƚ ŝ Ɛ Ă Ɖ Ɖ ƌ Ž ǀ Ğ Ě ď Ǉ ƚ Ś Ğ Ɖ ƌ Ž Ɖ Ğ ƌ ƚ Ǉ Ž ǁ Ŷ Ğ ƌ Ɛ Ă Ɛ ƌ Ğ Ƌ Ƶ ŝ ƌ ĞĚ ďǇ ƌƚŝĐůĞ y/// ŽĨ ƚŚĞ ĂůŝĨŽƌŶŝĂ ŽŶƐƚŝƚƵƚŝŽŶ͕ ^ĞĐƚŝŽŶ ϱϯϳϯϵ ŽĨ ƚŚĞ 'ŽǀĞƌŶŵĞŶƚ ŽĚĞ ĂůůŽǁƐ ƚŚĂƚ ƚŚĞ ĂƐƐĞƐƐŵĞŶƚ ŵĂǇ ďĞ ŝŵƉŽƐĞĚ ƚŚĞƌĞĂĨƚĞƌĂƚ͙͞ĂŶǇƌĂƚĞŽƌĂŵŽƵŶƚƚŚĂƚŝƐůĞƐƐƚŚĂŶŽƌĞƋƵĂůƚ ŽƚŚĞŵĂǆŝŵƵŵĂŵŽƵŶƚĂƵƚŚŽƌŝǌĞĚďǇƚŚĞ ǀŽƚĞƌĂƉƉƌŽǀĞĚŽƌĚŝŶĂŶĐĞŽƌƌĞƐŽůƵƚŝŽŶ͘͟
^ĞĐƚŝŽŶϱϯϳϯϵĂůƐŽĂůůŽǁƐƚŚĂƚƚŚĞĂƐƐĞƐƐŵĞŶƚŵĂǇďĞĂĚũƵƐƚĞĚĨŽƌŝŶĨůĂƚŝŽŶďĂƐĞĚƵƉŽŶĂĐůĞĂƌůǇĚĞĨŝŶĞĚ ĨŽƌŵƵůĂƚŚĂƚŝƐƐƚĂƚĞĚŝŶƚŚĞƌĞƐŽůƵƚŝŽŶƚŚĂƚŝƐĂƉƉƌŽǀĞĚďǇƚŚĞƉƌŽƉĞƌƚǇŽǁŶĞƌƐĂƚĂŶĞůĞĐƚŝŽŶĂƵƚŚŽƌŝǌŝŶŐ ƚŚĞůĞǀǇŽĨƚŚĞĂƐƐĞƐƐŵĞŶƚ͘
dŚĞĨŽƌŵƵůĂƚŽďĞƵƐĞĚƚŽĚŝƐƚƌŝďƵƚĞƚŚĞĐŽƐƚƐŽĨƉƌŽǀŝĚŝŶŐƚŚĞĞŶŚĂŶĐĞĚůĞǀĞůƐŽĨƐĞƌǀŝĐĞƐĚĞƐĐƌŝďĞĚŝŶ ƚŚŝƐZĞƉŽƌƚƚŽƚŚĞĂƐƐĞƐƐĂďůĞƉĂƌĐĞůƐǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚǁĂƐĂƉƉƌŽǀĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĂƚƚŚĞƚŝŵĞƚŚĞ ŝƐƚƌŝĐƚǁĂƐĨŽƌŵĞĚ͘
102

ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϱ
^ŝŶĐĞƚŚĞŝƐƚƌŝĐƚŝŵƉƌŽǀĞŵĞŶƚƐĂƌĞĞŶƚŝƌĞůǇůŽĐĂƚĞĚŝŵŵĞĚŝĂƚĞůǇĂĚũĂĐĞŶƚƚŽƚŚĞďĞŶĞĨŝƚĞĚƉĂƌĐĞůƐ͕ŝƚ ŚĂƐďĞĞŶĚĞƚĞƌŵŝŶĞĚƚŚĂƚƚŚĞƌĞŝƐůŝƚƚůĞŽƌŶŽŐĞŶĞƌĂůďĞŶĞĨŝƚƚŽƚŚĞƉƵďůŝĐĂƚůĂƌŐĞ͘ ^ƉĞĐŝĂůĞŶĞĨŝƚŶĂůǇƐŝƐ
^ƚƌĞĞƚ >ĂŶĚƐĐĂƉŝŶŐ Ͳ dƌĞĞƐ͕ ůĂŶĚƐĐĂƉŝŶŐ͕ ŚĂƌĚƐĐĂƉŝŶŐ ĂŶĚ ĂƉƉƵƌƚĞŶĂŶƚ ĨĂĐŝůŝƚŝĞƐ͕ ŝĨ ǁĞůů ŵĂŝŶƚĂŝŶĞĚ͕ ƉƌŽǀŝĚĞďĞĂƵƚŝĨŝĐĂƚŝŽŶ͕ƐŚĂĚĞ͕ĞŶŚĂŶĐĞƐƵƌƌŽƵŶĚŝŶŐƐĂŶĚĚĞƐŝƌĂďŝůŝƚǇŽĨƚŚĞƉƌŽƉĞƌƚŝĞƐ͘
E
&/d^K&>E^W/E'
^ĞĐƵƌŝƚǇĂŶĚ^ĂĨĞƚǇ
/ŵƉƌŽǀĞĚĞƌŽƐŝŽŶƌĞƐŝƐƚĂŶĐĞĂŶĚĚƵƐƚ
ĐŽŶƚƌŽů

ŽŵŵƵŶŝƚǇŚĂƌĂĐƚĞƌĂŶĚsŝƚĂůŝƚǇ
/ŵƉƌŽǀĞĚĂĞƐƚŚĞƚŝĐĂƉƉĞĂůŽĨŶĞĂƌďǇƉĂƌĐĞůƐ
ĞĂƵƚŝĨŝĞƐĂŶĚŵĂŬĞƐƐĂĨĞƌĨůŽŽĚĐŽŶƚƌŽůĨĂĐŝůŝƚŝĞƐ ƚŚĂƚǁŽƵůĚŽƚŚĞƌǁŝƐĞďĞƵŶƐŝŐŚƚůǇĂŶĚƉŽƚĞŶƚŝĂůůǇ
ĚĂŶŐĞƌŽƵƐ

/ƚ ƐŚŽƵůĚ ďĞ ŶŽƚĞĚ ƚŚĂƚ ƚŚĞ ĚĞĨŝŶŝƚŝŽŶ ŽĨ ͞ƉĂƌŬǁĂǇƐ͟ ĂďŽǀĞ ŵĂǇŝŶĐůƵĚĞ ƚŚĞ ƌŽĂĚǁĂǇ ĂƐ ǁĞůů ĂƐ ƚŚĞ ůĂŶĚƐĐĂƉŝŶŐĂůŽŶŐƚŚĞƌŽĂĚǁĂǇ͘
^ƚƌĞĞƚůŝŐŚƚƐͲdŚĞŽŶŐŽŝŶŐŽƉĞƌĂƚŝŽŶĂŶĚŵĂŝŶƚĞŶĂŶĐĞĂŶĚŽƉĞƌĂƚŝŽŶŽĨƐƚƌĞĞƚůŝŐŚƚƐďĞŶĞĨŝƚĂůůƉƌŽƉĞƌƚŝĞƐ ǁŝƚŚŝŶƚŚĞŝƐƚƌŝĐƚďǇƉƌŽǀŝĚŝŶŐƐĞĐƵƌŝƚǇ͕ƐĂĨĞƚǇĂŶĚĐŽŵŵƵŶŝƚǇ ĐŚĂƌĂĐƚĞƌĂŶĚǀŝƚĂůŝƚǇĂƐŽƵƚůŝŶĞĚďĞůŽǁ͘ ^ƚƌĞĞƚůŝŐŚƚƐƉƌŽǀŝĚĞŽŶůǇŝŶĐŝĚĞŶƚĂůďĞŶĞĨŝƚƐƚŽŵŽƚŽƌŝƐƚƐƚƌĂǀĞůŝŶŐƚŽ͕ĨƌŽŵŽƌƚŚƌŽƵŐŚƚŚĞĂƌĞĂ͘
E
&/d^K&^dZ

d>/',d/E'
^ĞĐƵƌŝƚǇĂŶĚ^ĂĨĞƚǇ
DŝƚŝŐĂƚĞƐƉƌŽƉĞƌƚǇĚĂŵĂŐĞĚƵĞƚŽĐƌŝŵĞ
ůůĞǀŝĂƚĞƐƚŚĞĨĞĂƌŽĨĐƌŝŵĞ͕ǁŚŝĐŚŝŶĐƌĞĂƐĞƐ
ƚŚĞĚĞƐŝƌĂďŝůŝƚǇŽĨƚŚĞƉƌŽƉĞƌƚǇ

ŶŚĂŶĐĞƐƐĂĨĞŝŶŐƌĞƐƐͬĞŐƌĞƐƐƚŽƉƌŽƉĞƌƚǇ
ŽŵŵƵŶŝƚǇŚĂƌĂĐƚĞƌĂŶĚsŝƚĂůŝƚǇ
WƌŽŵŽƚĞƐƐŽĐŝĂůŝŶƚĞƌĂĐƚŝŽŶ
ŽŶƚƌŝďƵƚĞƐƚŽĂƉŽƐŝƚŝǀĞŶŝŐŚƚƚŝŵĞǀŝƐƵĂůŝŵĂŐĞ

DĞƚŚŽĚŽůŽŐǇ
dŚĞƉĂƌĐĞůƐŽĨůĂŶĚŝŶƚŚĞŝƐƚƌŝĐƚĂƌĞĂůůĐŽŵŵĞƌĐŝĂůƉƌŽƉĞƌƚŝ ĞƐĂŶĚĂƌĞĂƐƐĞƐƐĞĚďĂƐĞĚŽŶĂůŝŶĞĂƌĨŽŽƚ ;> & ͿĨ ƌ ŽŶ ƚ ĂŐ ĞŽŶ DĂŝ Ŷ^ ƚ ƌĞ Ğ ƚ ĂŶ Ě 'ĂƌĚĞŶ 'ƌŽǀĞ ŽƵůĞǀĂƌĚ͘ ŝƚǇͲŽǁŶĞĚ ƉĂƌŬŝŶŐ ůŽƚ ƉƌŽƉĞƌƚŝĞƐ ĂƌĞ ŶŽƚ ĐŽŶƐŝĚĞƌĞĚ ƚŽďĞŶĞĨŝƚĨƌŽŵƚŚĞŝŵƉƌŽǀĞŵĞŶƚƐĂŶĚĂƌĞƚŚĞƌĞĨŽƌĞĞ ǆĐůƵĚĞĚĨƌŽŵĂƐƐĞƐƐŵĞŶƚ͘dŚĞƚĂďůĞ ďĞůŽǁƉƌŽǀŝĚĞƐƚŚĞĂƐƐĞƐƐŵĞŶƚĂƉƉŽƌƚŝŽŶŵĞŶƚĨŽƌƚŚĞŝƐƚƌŝĐƚ͘
103

ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϲ

dŚĞĂĐƚƵĂůĂƐƐĞƐƐŵĞŶƚƐůĞǀŝĞĚŝŶĂŶǇĨŝƐĐĂůǇĞĂƌǁŝůůďĞĂƐĂƉƉƌŽǀĞĚďǇƚŚĞŝƚǇŽƵŶĐŝůĂŶĚŵĂǇŶŽƚĞǆĐĞĞĚ ƚŚĞŵĂǆŝŵƵŵĂƐƐĞƐƐŵĞŶƚƌĂƚĞǁŝƚŚŽƵƚƌĞĐĞŝǀŝŶŐƉƌŽƉĞƌƚǇŽǁŶĞƌĂƉƉƌŽǀĂůĨŽƌƚŚĞŝŶĐƌĞĂƐĞ͘ WƌĞǀŝŽƵƐ
ƐƚŝŵĂƚĞĚ dŽƚĂů DĂǆŝŵƵŵ
&ŝƐĐĂůzĞĂƌϮϰͲϮϱ &ŝƐĐĂůzĞĂƌϮϱͲϮϲ ŝƐƚƌŝĐƚ &ŝƐĐĂůzĞĂƌϮϱͲϮϲ dŽƚĂůƐŵƚ dŽƚĂůƐŵƚ &ƌŽŶƚĂŐĞΎ ƐŵƚƉĞƌ>&
ΨϮϲ͕ϳϬϬ ΨϮϲ͕ϳϬϬ ϭ͕ϯϰϬ͘ϰϱ Ψϭϵ͘ϵϮ
ΎdŽƚĂůĨƌŽŶƚĂŐĞŵĂǇĚŝĨĨĞƌĚƵĞƚŽƌŽƵŶĚŝŶŐ͘
104

ŶŐŝŶĞĞƌ͛ƐZĞƉŽƌƚ
ŽǁŶƚŽǁŶƐƐĞƐƐŵĞŶƚŝƐƚƌŝĐƚ
ŝƚǇŽĨ'ĂƌĚĞŶ'ƌŽǀĞ
&ŝƐĐĂůzĞĂƌϮϬϮϱͲϮϲ

ϳ
WW
E/yʹ^^
^^D
Ed/'ZD
ĚŝĂŐƌĂŵ ƐŚŽǁŝŶŐ ƚŚĞ ĞǆƚĞƌŝŽƌ ďŽƵŶĚĂƌŝĞƐ ŽĨ ƚŚĞ ŝƐƚƌŝĐƚ ŝƐ ŽŶĨ ŝ ů Ğ ŝŶ ƚ Ś ĞK ĨĨ ŝ Đ ĞŽĨ ƚŚ Ğŝƚ Ǉ ů Ğ ƌŬ ĂŶĚ ŝŶĐŽƌƉŽƌĂƚĞĚŚĞƌĞŝŶďǇƌĞĨĞƌĞŶĐĞ͘
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108

GARDEN GROVE CITY COUNCIL
RESOLUTION NO. ____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GARDEN GROVE,

DECLARING ITS INTENTION TO ORDER THE MAINTENANCE OF CERTAIN

IMPROVEMENTS IN THE DOWNTOWN ASSESSMENT DISTRICT IN THE CITY OF GARDEN GROVE; DESCRIBING THE DISTRICT TO BE BENEFITED, AND DECLARING

ITS INTENTION TO LEVY AN ASSESSMENT TO PAY THE COST AND EXPENSES THEREOF; AND SETTING THE TIME AND PLACE FOR THE PUBLIC HEARING ON THE

QUESTION OF THE LEVY OF THE PROPOSED ASSESSMENT
WHEREAS, the City Council of the City of Garden Grove, adopted Resolution No. ____, which described existing and any proposed new improvements or substantial changes in existing improvements in the Downtown Assessment District, and ordered the City Engineer to prepare and file a report pursuant to the provisions of the Landscaping and Lighting Act of 1972, i.e., Division 15, Part 2 (commencing with Section 22500) of the California Streets and Highways Code (hereinafter "Act");
WHEREAS, the City Council formed an Assessment District to finance the maintenance of certain improvements under the Act;
WHEREAS, the proposed boundaries of such Assessment District are shown on a map thereof which indicates by a boundary line the extent of the territory included in such Assessment District, which map is designated "Assessment Diagram Downtown Assessment District" as part of the report of the City Engineer described more fully herein below and such map is on file in the City Clerk’s Office; WHEREAS, the City Engineer is competent to make and file with the City Council a report regarding maintenance of the improvements, which is required by the Act;
WHEREAS, the City Council has directed the City Engineer to procure the required information and prepare and present to the City Council the written report of maintenance required by the Act;
WHEREAS, the City Engineer has prepared the report, and filed it with the City Clerk and presented it to the City Council and the City Council has examined the report;
WHEREAS, under the Act, before levying and collecting assessments in the Assessment District, the City Council is required to adopt a Resolution declaring its intention to do so; and
WHEREAS, the City Council proposes no increase in assessment for a total of $19.92 per linear foot of frontage on Main Street and Garden Grove Boulevard. 109

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF GARDEN GROVE DOES HEREBY RESOLVE, DETERMINE, AND ORDER as follows:

SECTION 1. The City Council hereby finds and declares that the public interest and necessity require the maintenance of certain improvements in the streets and other public easements as hereinafter described, and the City Council hereby declares its intention to levy and collect assessments covering the real property benefited by the improvements, pursuant to the Act.

SECTION 2 . The City Council intends to order maintenance of improvements in certain streets, and other public easements, as follows: A portion of Main Street from Garden Grove Boulevard to Acacia Parkway and a portion of Garden Grove Boulevard between 150.16 feet west of the centerline of Main Street and 150.06 feet east of the centerline of Main Street, all being within the district, including on street parking, sidewalks, center gutter, street lights, street trees, and street furniture, including bollards, benches, trash receptacles, drinking fountains, miscellaneous planters, and related items.

SECTION 3
. The District is designated Downtown Assessment District, and is generally located on Main Street between Acacia Parkway and Garden Grove Boulevard.

SECTION 4
. The report of the City Engineer is hereby approved, and the City Clerk is directed to endorse the fact and date of approval on the report and to file the report in its office. Reference is hereby made to the report, on file with City Clerk, for a full and detailed description of the improvements to be maintained; the boundaries of the Assessment District; and the proposed assessments upon assessable lots and parcels of land within the District.

SECTION 5
. An assessment will be levied pursuant to the Act upon all property in Downtown Assessment District subject to assessment under the Act to pay the balance of costs and expenses of the maintenance of the improvements.

SECTION 6
. Notice is hereby given that as there is no increase in the assessment for the 2025-26 Fiscal Year for Downtown Assessment District, there will only be one Public Hearing, which will be held on May 27, 2025, at 6:30 p.m. (or as soon thereafter as the City Council may hear same), in the Community Meeting Center, 11300 Stanford Avenue, Garden Grove, California, which is hereby set as the time and place for the Public Hearing on the question of the levy of the proposed assessment. Any interested person may file a written protest with the City Clerk, in which each signer is interested, sufficient to identify the property, which must be delivered to the City Clerk prior to the conclusion of the Public Hearing. In addition, all interested persons shall be afforded the opportunity to be heard at the Public Hearing. The City Council shall consider all oral statements and all written protests or communications made or filed by any interested persons. 110
SECTION 7. The City Clerk shall cause this Resolution of Intention to be published once in a newspaper of general circulation in the city of Garden Grove, California, not less than ten (10) days prior to the date set for the Public Hearing. 111
Item 160/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: William E. Murray
Dept:

City Manager Dept: Public Works
Date: 5/13/2025

Subject: Acceptance of an easement for public street and highway purposes for the property located at 11081 College Avenue, Garden Grove. (Action Item)

OBJECTIVE

To request City Council approval for the acceptance of an easement for public street and highway purposes in accordance with Director’s Review No. DR-078-2025 (Project), For a portion of the real property located at 11081 College Avenue, Garden Grove, owned by Hung Nguyen (Owner).

BACKGROUND

On March 11, 2025, the Community Development Director approved the construction of a two-story, 2 ,635 square -foot, single -family dwelling with an attached 500 square -foot garage. The proposal also includes an 800 sq uare-foot attached Accessory Dwelling Unit. (ADU).

DISCUSSION

The applicant’s site plan includes the construction of an ADA ramp at the northwest corner of Walnut Avenue and College Avenue. The dedication is necessary to accommodate this curb ramp. The applicant submitted both plans and the Street Deed.

FINANCIAL IMPACT

There is no financial impact to the General Fund.

RECOMMENDATION

It is recommended that the City Council:

 Accept the easement for public street and highway purposes for a portion of the property located at 11081 College Avenue, Garden Grove i n accordance with the Director’s Review No. DR-078-2025; and

112
Item 160/2025

Page 2 of 2 ends

 Authorize the City Clerk to accept the Street Deed on behalf of the City.

By: Kamyar Dibaj
Project Engineer

ATTACHMENT(S)

Street Deed

113
R.ccording Requested By:

CITY OF GARDEN GROVE

AND WHEN RECORDED MAIL TO
City of Garden Grove
P. 0. Box 3070
Garden Grove, CA 92842
Attn: City Clerk Office
Portion of: ^J PL - oJ-0 - U^

ASSESSOR PARCEL NUMBER
This document is exempt from payment of recording
fees pursuant to Section 6TO3^oJ,thg Government Code.

City Clerk's No.
r(/A-
By: ^nja. >IAA&L -_cAzr^-

STREET DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, ^tM ^^> tUL^ ^ (^h^^ AmcW- lu^i'J^ &om^\^
do(es) hereby GRANT to the CITY OF GARDEN GROVE, a municipal corporation, an easement for public street and highway purposes in, on and over the real property in the City of Garden Grove, County of Orange, State of California, described as:

PER LEGAL DESCRIPTION SHOWN ON EXHIBIT "A". AND DELINEATED ON PLOT MAP SHOWN AS EXHIBIT "B" BOTH OF WHICH ARE ATTACHED HERETO, AND .MADE A PART HEREOF // is understood that each undersigned grantor grants only thai portion of the above described land in which said grantor has an interest.

ACKNOWLEDGMENT
A notary public or other officer completing this certificate verifies only the identity oftlie individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that documenl.

State of California
County o{ I C^\t\-ft-^(T-»
On ^12-1 .Zo, -2<~ i before me.
^AJC^ ^f AJ^/^n
name an^ title oftlie^officer) perst.inatly appeared
T^-M fJ (W^Y iS~f^-r , who proved to me on
the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me tliat lie/slie/tliey executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PHNALTY OF PERJURY under the laws oftlie State of Califoniia that the foregoing paragraph is true and correct.

WITNESS my haitd and official seal.

Signature
(Seal)
^02.S
1ENRY HOP NGUYEN
Notary Public - California ^
Orange County S
Commission C 2424550
My Comm. Expires Oct 31, 2026
By:Tl/ &a_ j)^
its: 77-,^ ^-x^?i/-^
Date
By:

Its:
••-Lf-/^. / ZOZT-
Date:
114
Street Deed
City of Garden Grove

APPROVED AS TO FORM OTHER THAN LEGAL

DESCRIPTION //
By: UMMXMMW^I
'if-C
Dated:

This is to certify that the interest in real property conveyed by

APPROVED AS TO EXECUTION AND DESCRIPTION
By:.

Right of Way Agent
Dated:
to the City of Garden Grove, a governmental agency, is hereby accepted by the undersigned officer on behalf of the Garden Grove City Council pursuant to authority conferred by
Resolution of the Garden Grove City Council adopted July 17, 1978, and the grantee consents to recordation thereof by its duly authorized officer.

Dated:

By:

City Clerk
115
A-311433
EXHIBIT "A"

LEGAL DESCRIPTION

RIGHT OF WAY DEDICATION

IN THE CITY OF GARDEN GROVE, COUNTY OF ORANGE, STATE OF CALIFORNIA THAT PORTION OF LOT 15 OF TRACT No. 502, IN THE CITY OF GARDEN GROVE, COUNTY OF ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 17, PAGE 46 OF

MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY, DESCRIBED AS FOLLOWS:

BEGINNING AT THE INTERSECTION OF COLLEGE AVENUE & WALNUT AVENUE, AS SAID INTERSECTION IS SHOWN ON MAP OF TRACT No, 502, IN BOOK 17, PAGE 46 IN THE OFFICE OF THE COUNTY RECORDER; THENCE NORTH 0°47'30" WEST, 36.02' ALONG THE CENTER LINE OF WALNUT AVEH OF SAID TRACT No. 502; THENCE ALONG A BEARING OF NORTH 89°12'30" EAST A DISTANCE OF 25' TO A POINT ON THE WESTERLY LINE OF SAID LOT 15, SAID POINT BEING THE TRUE POINT OF BEGINNNG; THENCE EASTERLY ALONG A BEARING OF SOUTH 0°47'30" WEST A DISTANCE OF 6.02', TO THE SOUTHWESTERLY CORNER OF SAID LOT 15, THENCE NORTHEASTERLY ALONG A BEARING OF SOUTH 89°12'30" WEST A DISTANCE 6,02', SAID LINE BEING THE SOUTHERLYLINE OF LOT 15, THENCE NORTHWESTERLY ALONG A DIAGONAL LINE BEARING NORTH 45°47'30" WEST A DISTANCE OF 8.51' TO A POINT ON THE WESTERLY LINE OF LOT 15, SAID POINT BEING THE TRUE POINT OF BEGINNING, THENCE SOUTH 0°47'30" EAST A DISTANCE OF 30' TO CENTER LINE OF COLLEGE AVENUE, THENCE SOUTH 89°55'30" WEST, 31,02' ALONG SAID CENTER LINE TO THE POINT OF BEGINING.

AS SHOWN ON THE ATTACHED EXHIBIT "B" AND BY THIS REFERENCE MADE A PART HERE OF.

SUBJECT TO EASEMENTS, COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, RIGHTS,

RIGHT-OF-WAY, AND OTHER MATTERS OF RECORD, IF ANY,
APN: 090-102-12
PREPARED BY: CORE CIVIL ENGINEERING, INC.
201 E SANDPOINT AVE. #400, SANTA ANA, CA 92707
OFFICE; 949-954-72^4
DIRECT: 949-954-7242
[email protected]
WWW.CORESTRUCTURE.COM
DATE: 09/30/2025
116
EXHIBIT "B"

RIGHT OF WAY DEDICATION

IN THE CITY OF GARDEN GROVE,
COUNP^ OF ORANGE, STATE OF CALIFORNIA
PROPERTY ADDRESS: 11081 COLLEGE AVE, GARDEN GROVE, CA 92840 APN: 090-102-12
P.O.B

C/L WALNUT AVE
N 0° 47' 30" W 36.02' I N 0° 47' 30" W
(BASIS OF BEARING)
30'
T.P.O.B
N 0° 47' 30" W 38.98'
LOT 15 OF
TRACT No. 502, M.M, 17/46
S 0° 47' 30" E 45.00'
APN: 090-102-23
z >
00 ^ z
^ g0
LEGEND:

C/L
P.O.B
T.P.O.B
No.

SQ.FT

TIE LINE

CENTERLINE

PROPERTY
LINE

CENTERLINE

POINT OF BEGINNING

TRUE POINT OF BEGINNING
NUMBER

SQUARE FEET
®

AREA OF DEDICATION
1/2*6.02*6.02 = 18.12 SOFT

PROPERTY LINE CORNER

POINTS AND ELEVATION DATUM

SCALE IN FEET
7 inch= 20 ft.
* THE BASIS OF BEARING SHOWN HEREON ARE BASED ON THE CENTERLINE OF WALNUT AVE N0%7'30" EAST PER TRACT NO. 502, M.M, 17/46.
* THIS PLAT WAS PREPARED BASED ON RECORD DATA,
PREPARED BY: CORE CIVIL ENGINEERING, INC.
201 E SANDPOINT AVE. #400, SANTA ANA, CA 92707
OFFICE: 949-954-7244
DIRECT: 949-954-7242
ANIRfSCORESTRUCTURE.COM
WWW.CORESTRUCTURE.COM
DATE: 09/30/2025
117
Item 161/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: William E. Murray
Dept:

City Manager Dept: Public Works
Date: 5/13/2025

Subject: Authorization for the issuance of an emergency purchase order with Tess Electric for electrical equipment replacement at Well No. 31. (Cost: $54,225.64)(Action Item)

OBJECTIVE

To receive City Council approval of an emergency purchase order with Tess Electric for electrical equipment replacement at Well No.31.

BACKGROUND

The Garden Grove Public Works Department’s Water Services Division owns and operates the water system that provides water services throughout the city. The Division operates 17 total water production facilities that encompasses 13 wells, 5 pump stations, a nd 8 reservoirs that store approximately 53 million gallons of water. On April 13, 2025, the variable frequency drive (VFD) at Well No. 31 failed. Tess Electric was called out to diagnose the VFD for Well No. 31. This VFD equipment was reported as unrepairable, obsolete, and requires an immediate replacement.

DISCUSSION

This well site is a critical resource for meeting daily demands should additional wells be potentially shut down for PFAS water contamination. Hence, affecting the safety, health and property of the community at large. Staff obtained three (3) quotes with the lowest quote in the amount of $54,225.64. Currently, the VFD is available for immediate delivery, but this situation could change due to high demand and the cost could also increase b ased on current import cost fluctuations. Staff proceeded with ordering the VFD to lock in current pricing. There is an existing $25,000 blanket purchase order with Tess Electric with a balance of approximately $15,000. This balance is insufficient to cove r the replacement of this equipment. Therefore, staff is seeking to designate these costs as emergency repairs and issue an emergency purchase order in the amount of $54,225.64 as soon as possible to begin scheduling the replacement. During the replacement process, the contractor will be able to thoroughly inspect all components of the motor control centers and address any unanticipated additional work required, which may result in additional costs. 118
Item 161/2025

Page 2 of 2 ends

FINANCIAL IMPACT

The total cost of the electrical equipm ent replacement at Well No. 31 is $54,225.64. This amount will be funded from the existing Water utility budget. No additional appropriation is needed, and there is no impact to the General Fund.

RECOMMENDATION

It is recommended that City Council:
 Approve and authorize the Finance Director to issue an emergency purchase order in the amount of $54,225.64 to Tess Electric for electrical equipment replacement at Well No. 31.

By: Samuel Kim, P.E.

Deputy Public Works Director/Water Services Manager

ATTACHMENT(S)

1. Quotes

119
120
121
122
123
124
Item 169/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: Patricia Song
Dept:

City Manager Dept: Finance
Date: 5/13/2025

Subject: Receive and file warrants. (Action Item)

OBJECTIVE

For the City Council to receive and file the warrants.

BACKGROUND/DISCUSSION

Attached are the warrants recommended to be received and filed.

FINANCIAL IMPACT

Items listed in the warrants are budgeted.

RECOMMENDATION

It is recommended that the City Council:
 Receive and file the warrants.

ATTACHMENT(S)

1. AP02232025

2. AP03012025

3. AP03052025

4. AP03122025

5. AP03192025

6. PR03032025

7. PR05012025

8. PR04082025

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City of Garden Grove
Certificate of Warrants
Register Dates:
03/01/2025
This is to certify the demands covered by EFT numbers 00063158 through 00064234, and check numbers 00700258 through 00700445 inclusive as listed on this register and have been verified by the Finance Division as properly issued and bear all proper signatures.

Finance Director
Patricia Song
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City of Garden Grove
Certificate of Warrants
Register Dates:
03/05/2025
This is to certify the demands covered by EFT numbers 00064235 through 00064291, and check numbers 00700446 through 00700536 inclusive as listed on this register and have been verified by the Finance Division as properly issued and bear all proper signatures.

Finance Director
Patricia Song
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City of Garden Grove
Certificate of Warrants
Register Date:

Apr 3, 2025
This is to certify the demands covered by EFT numbers 00054605 through 00055260 and check numbers 00186081 through 00186092 inclusive as listed on this register and have been verified by the Finance Division as properly issued and bear all proper signatures.

Note:

Finance Director
Patricia Song

FFiFFFFFFFFFFFFFF nance Director
192

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 2
PY - Payroll
Check Type: CHK
Check Vendor # Vendor Name Issue Date Check Amount
00186081 E05264 LAWRENZ, CHRISTIAN M 04/03/2025 $633.56 00186082 E05313 MOORE, JACOB D 04/03/2025 $2,368.25 00186083 E00977 BELAIR, DIANE 04/03/2025 $2,264.56 00186084 E05262 FLORES, JAVIER 04/03/2025 $2,439.63 00186085 E05242 LICONA, MARCOS DE JESUS 04/03/2025 $27.09 00186086 E05236 NGUYEN, RYAN Q 04/03/2025 $8.43 00186087 E05309 VASQUEZ, JADE F 04/03/2025 $183.42 00186088 E04444 JULIENNE, PATRICK R 04/03/2025 $3,678.35 00186089 E05306 BISHOP, AIDAN M 04/03/2025 $1,238.09 00186090 E05312 GUTIERREZ, JOSE 04/03/2025 $1,179.84 00186091 E03529 ROCHA, MICHAEL F 04/03/2025 $2,436.51 00186092 E05300 PHAM, TRUC N 04/03/2025 $2,446.59 CHK - Total $18,904.32
Check Type: EFT
Check Vendor # Vendor Name Issue Date Check Amount
00054605 E05295 ARESTEGUI, ARIANA 04/03/2025 $756.56 00054606 E03973 AVILA, VERONICA 04/03/2025 $2,483.65 00054607 E03982 BECKLES, CAROL E 04/03/2025 $49.27 00054608 E04755 BRIETIGAM III, GEORGE S 04/03/2025 $678.51 00054609 E03423 CHOWDHURY, JACINTA F 04/03/2025 $2,127.51 00054610 E05080 DOVINH, JOSEPH T 04/03/2025 $719.61 00054611 E00803 GRIMM, PAMELA M 04/03/2025 $2,261.43 00054612 E04131 HERREN, NOELLE N 04/03/2025 $2,822.80 00054613 E05268 KIM, JUDY M 04/03/2025 $1,561.36 00054614 E04442 KIM, LISA L 04/03/2025 $7,446.84 00054615 E04536 KLOPFENSTEIN, STEPHANIE L 04/03/2025 $670.95 00054616 E05072 LOPEZ, CARLOS 04/03/2025 $1,062.41 00054617 E02787 MORAN, MARIE L 04/03/2025 $3,056.60 00054618 E05294 MUNETON, YESENIA P 04/03/2025 $778.97 00054619 E05297 NGUYEN, PHILLIP P 04/03/2025 $755.95 00054620 E05035 NGUYEN, TAN V 04/03/2025 $49.27 00054621 E04528 PARK, SHAWN S 04/03/2025 $2,943.82 Server Name: cognos.ggcity.org User Name: victoriac
193

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 3
Check Vendor # Vendor Name Issue Date Check Amount
00054622 E01964 PULIDO, ANA E 04/03/2025 $4,637.64 00054623 E05057 SATO, MICHI L 04/03/2025 $2,915.73 00054624 E05259 SERRATO RODRIGUEZ, DIANA 04/03/2025 $1,896.29 00054625 E03715 THAI, KRISTY H 04/03/2025 $0.00 00054626 E05079 TRAN, CINDY NGOC 04/03/2025 $787.33 00054627 E03983 VASQUEZ, LIZABETH C 04/03/2025 $3,077.84 00054628 E04971 VITAL, ANDREA 04/03/2025 $2,021.69 00054629 E05192 WEST, MATTHEW S 04/03/2025 $7,324.67 00054630 E04944 ANDERSON CAMBA, ASHLEIGH R 04/03/2025 $2,693.39 00054631 E04764 BRADLEY, JANNA K 04/03/2025 $2,801.10 00054632 E03766 CERDA, MARY C 04/03/2025 $1,669.25 00054633 E04363 KWAN, LIANE Y 04/03/2025 $4,510.25 00054634 E01985 LEE, JANY H 04/03/2025 $5,360.08 00054635 E05078 SANCHEZ, GIOVANNI P 04/03/2025 $2,375.13 00054636 E04417 STEPHENSON, CAITLYN M 04/03/2025 $2,849.83 00054637 E05286 TRAN BELLEVILLE, LYDIA M 04/03/2025 $2,811.18 00054638 E04390 AMBRIZ, STEPHANIE 04/03/2025 $1,680.51 00054639 E04445 BROWN, KAREN J 04/03/2025 $1,182.92 00054640 E05068 CASTELLON, ALVARO A 04/03/2025 $3,187.73 00054641 E04961 CHAO, VICTORIA 04/03/2025 $1,885.22 00054642 E03686 CHAVEZ, JAIME F 04/03/2025 $1,709.56 00054643 E03760 CHUNG, JANET J 04/03/2025 $2,553.95 00054644 E05094 CORTEZ, ELIZABETH M. 04/03/2025 $2,360.16 00054645 E04960 FUKAZAWA, KEISUKE 04/03/2025 $2,396.44 00054646 E05055 GAMINO, LINDA M 04/03/2025 $105.16 00054647 E03877 GOMEZ, STEVEN E 04/03/2025 $1,924.34 00054648 E03429 GULLEY, SUSAN J 04/03/2025 $370.80 00054649 E04673 HART, BRANDI M 04/03/2025 $2,580.58 00054650 E03016 HERNANDEZ, GARY F 04/03/2025 $1,889.29 00054651 E04569 HOFFMAN, CORINNE L 04/03/2025 $2,528.94 00054652 E05304 LIVA, CHRISTOPHER T 04/03/2025 $2,207.63 00054653 E05167 LOFFLER, SARAH N 04/03/2025 $1,872.99 00054654 E00057 MANALANSAN, NEAL M 04/03/2025 $2,413.10 00054655 E01668 MAY, ROBERT W 04/03/2025 $1,737.05 00054656 E01393 MENDEZ, ANGELA M 04/03/2025 $2,278.04 Server Name: cognos.ggcity.org User Name: victoriac
194

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 4
Check Vendor # Vendor Name Issue Date Check Amount
00054657 E03628 MENDOZA, CHRISTI C 04/03/2025 $2,371.59 00054658 E05261 MENDOZA, MARELLA L F 04/03/2025 $2,046.57 00054659 E04958 NGO, TINA 04/03/2025 $2,907.52 00054660 E02429 PHAM, ANH 04/03/2025 $1,901.53 00054661 E05303 PHAN, NIKKIE N.Q. 04/03/2025 $2,252.29 00054662 E03610 RAMIREZ, EVA 04/03/2025 $2,317.25 00054663 E04973 RAMOS, NANCY 04/03/2025 $3,915.01 00054664 E05097 RODRIGUEZ, SEBASTIAN 04/03/2025 $2,455.96 00054665 E03539 SEGAWA, SANDRA E 04/03/2025 $3,820.69 00054666 E04780 SONG, YUAN 04/03/2025 $5,848.87 00054667 E03085 VICTORIA, PAUL E 04/03/2025 $1,631.66 00054668 E04859 VO, MY TRA 04/03/2025 $3,664.60 00054669 E05270 VO, NICOLE C 04/03/2025 $2,167.51 00054670 E03433 WESTON, RETA J 04/03/2025 $831.36 00054671 E04674 WHITTAKER DEGEN, HELEN E 04/03/2025 $751.55 00054672 E04527 YOO, MEENA 04/03/2025 $2,711.22 00054673 E04493 ANDREWS, STEVEN F 04/03/2025 $3,041.98 00054674 E00845 CHANG, TERENCE S 04/03/2025 $3,605.57 00054675 E05091 ENCISO, MARIA VERONICA M 04/03/2025 $2,500.60 00054676 E03498 ESPINOZA, VERNA L 04/03/2025 $2,464.97 00054677 E04523 GALLO, CESAR 04/03/2025 $3,948.72 00054678 E04415 GOLD, ANNA L 04/03/2025 $2,383.91 00054679 E04713 HINGCO, ERNIE E 04/03/2025 $2,364.21 00054680 E02617 KLOESS, GEOFFREY A 04/03/2025 $7,194.07 00054681 E05238 LE, JEFFREY D 04/03/2025 $1,433.49 00054682 E03571 MORAGRAAN, RACHOT 04/03/2025 $4,274.89 00054683 E05071 OCHOA, NICOLAS E 04/03/2025 $2,682.69 00054684 E01277 PROFFITT, NOEL J 04/03/2025 $3,880.82 00054685 E01901 RAO, ANAND V 04/03/2025 $5,986.52 00054686 E05073 SEYMOUR, DAVID M 04/03/2025 $2,094.22 00054687 E04395 SWANSON, MATTHEW T 04/03/2025 $1,939.90 00054688 E01674 VALENZUELA, ANTHONY 04/03/2025 $1,760.90 00054689 E00809 VICTORIA, ROD T 04/03/2025 $2,855.45 00054690 E03725 ABU HAMDIYYAH, AMEENAH 04/03/2025 $2,157.60 00054691 E05215 ANDUJO, ADRIAN S 04/03/2025 $2,176.03 Server Name: cognos.ggcity.org User Name: victoriac
195

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 5
Check Vendor # Vendor Name Issue Date Check Amount
00054692 E02996 ASHLEIGH, JULIE A 04/03/2025 $2,377.85 00054693 E05194 AVILA, RAFAEL B 04/03/2025 $3,206.50 00054694 E05208 BROWN, ANDRE P 04/03/2025 $2,628.85 00054695 E03601 CHUNG, CHRISTOPHER 04/03/2025 $3,532.26 00054696 E00128 CRAMER, RITA M 04/03/2025 $2,714.02 00054697 E04394 DAHLHEIMER, BRYSON T 04/03/2025 $0.00 00054698 E04879 DAKE, RYAN J 04/03/2025 $2,933.39 00054699 E04578 DENT, DAVID A 04/03/2025 $4,923.10 00054700 E05216 HERNANDEZ, ZACHARY L 04/03/2025 $2,439.55 00054701 E03410 HODSON, AARON J 04/03/2025 $2,310.64 00054702 E04716 KASKLA, PRIIT J 04/03/2025 $2,683.09 00054703 E04959 LE, KENNETH H 04/03/2025 $1,868.15 00054704 E04490 LY, HUONG Q 04/03/2025 $3,333.42 00054705 E04194 MARTINEZ, MARIA L 04/03/2025 $3,239.09 00054706 E05188 MERCADO RODRIGUEZ, MONICA 04/03/2025 $3,852.30 00054707 E04635 NGUYEN, PHU T 04/03/2025 $4,448.74 00054708 E02842 PARRA, MARIA C 04/03/2025 $5,179.08 00054709 E05249 PLASCENCIA, AMANDA C 04/03/2025 $2,220.49 00054710 E05172 QUENTAL, RYAN 04/03/2025 $2,579.52 00054711 E04992 ROBLES, ALFONSO 04/03/2025 $2,878.73 00054712 E05310 SEBBO, CAROL A 04/03/2025 $1,968.76 00054713 E04862 TRAN, JAKE P 04/03/2025 $2,287.86 00054714 E05209 TRAN, KAREN 04/03/2025 $667.59 00054715 E05048 TUONG, NGHIA T 04/03/2025 $2,469.51 00054716 E05053 VU, VINNY X 04/03/2025 $2,839.07 00054717 E05150 WETZEL, NIKI 04/03/2025 $4,236.85 00054718 E03643 ALVARADO, YOLANDA A 04/03/2025 $2,130.80 00054719 E05269 APODACA, ANGELA M 04/03/2025 $823.45 00054720 E04771 BAILOR, REBECCA J 04/03/2025 $839.15 00054721 E04988 BAUTISTA, BRENDA 04/03/2025 $6,502.95 00054722 E05125 BUI, RUBY 04/03/2025 $63.73 00054723 E02658 CAMARENA, RACHEL M 04/03/2025 $2,316.18 00054724 E01588 CAMARENA, RENE 04/03/2025 $2,793.49 00054725 E01902 CASILLAS, VICTORIA M 04/03/2025 $2,840.91 00054726 E05101 CASTANEDA, LILIANA 04/03/2025 $693.27 Server Name: cognos.ggcity.org User Name: victoriac
196

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 6
Check Vendor # Vendor Name Issue Date Check Amount
00054727 E05121 CASTRO PEREZ, ANDREA 04/03/2025 $358.51 00054728 E05058 CATAQUIZ, CHARLIZE N 04/03/2025 $320.04 00054729 E03304 CHUMACERO, DEANNA M 04/03/2025 $2,049.94 00054730 E05278 COLIN, ANGELICA 04/03/2025 $216.70 00054731 E04611 CROSS, AMANDA D 04/03/2025 $2,407.88 00054732 E05013 DINH, TIFFANY 04/03/2025 $609.43 00054733 E05222 DO, LOC T 04/03/2025 $394.70 00054734 E05228 DUONG, KYLA T 04/03/2025 $704.24 00054735 E05281 ENGLEBERT, BRIDGET L 04/03/2025 $458.47 00054736 E05158 FABIAN, SHARON J 04/03/2025 $615.97 00054737 E05015 FALETOI, TERRY U 04/03/2025 $422.08 00054738 E05127 FLORES, ERIKA 04/03/2025 $183.24 00054739 E02120 FRAUSTO, LUIZ F 04/03/2025 $315.56 00054740 E04679 FREEMAN, MARK C 04/03/2025 $4,322.67 00054741 E04481 GARCIA, JARED D 04/03/2025 $483.10 00054742 E05185 GARCIA, KATY 04/03/2025 $704.56 00054743 E04253 GARCIA, VANESSA L 04/03/2025 $184.78 00054744 E05069 GARCIA, VERONICA 04/03/2025 $157.51 00054745 E05225 GONZALEZ, ETHAN Z 04/03/2025 $286.51 00054746 E00940 GRANT, JACOB R 04/03/2025 $2,163.03 00054747 E05276 GUIDRY, TARIQ A 04/03/2025 $402.44 00054748 E04967 HASHEMI, SETAREH 04/03/2025 $475.73 00054749 E05248 HERNANDEZ, CESAR 04/03/2025 $474.86 00054750 E05152 HERNANDEZ, CLARISSA 04/03/2025 $350.54 00054751 E01687 HOLER, KIMBERLY K 04/03/2025 $187.89 00054752 E05221 HUANG, WENDY Y 04/03/2025 $332.79 00054753 E05147 LE, WILSON D 04/03/2025 $399.94 00054754 E05032 LEE, JASON J 04/03/2025 $397.88 00054755 E03603 MA AE, ELAINE M 04/03/2025 $3,320.85 00054756 E05148 MAZARIEGOS, ALEXA X 04/03/2025 $735.53 00054757 E01552 MEDINA, JESUS 04/03/2025 $1,823.94 00054758 E00455 MEDINA, JUAN 04/03/2025 $2,568.69 00054759 E05186 MELVIN, ALEXIS 04/03/2025 $1,034.78 00054760 E02808 MONTANCHEZ, JOHN A 04/03/2025 $12,180.90 00054761 E04947 NGUYEN, ALEXANDER H 04/03/2025 $390.37 Server Name: cognos.ggcity.org User Name: victoriac
197

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 7
Check Vendor # Vendor Name Issue Date Check Amount
00054762 E05220 NGUYEN, JASON H 04/03/2025 $472.09 00054763 E05052 NGUYEN, RYAN N 04/03/2025 $8.65 00054764 E04391 NICHOLAS, NOEL N 04/03/2025 $1,629.96 00054765 E04931 NODAL, NATALIE 04/03/2025 $722.32 00054766 E00785 OCADIZ HERNANDEZ, GABRIELA 04/03/2025 $4,170.02 00054767 E04965 ORDUNO, SAMANTHA 04/03/2025 $609.37 00054768 E05164 PARCELL, SAMANTHA M 04/03/2025 $648.56 00054769 E03361 PELAYO, JANET E 04/03/2025 $4,719.51 00054770 E04777 PHAN, EDOUARD T 04/03/2025 $436.48 00054771 E03893 PICKRELL, ARIELLE 04/03/2025 $1,174.16 00054772 E05116 PRADO, ALEXA 04/03/2025 $406.54 00054773 E05224 RAMIREZ, JOCELYN 04/03/2025 $601.66 00054774 E05230 RAMOS, ARIEL ELIZABETH 04/03/2025 $67.65 00054775 E02754 REYNOSO, SUGEIRY 04/03/2025 $2,768.21 00054776 E05118 RODRIGUEZ, JOSHUA R 04/03/2025 $25.95 00054777 E03362 ROMERO, MARINA Y 04/03/2025 $2,207.53 00054778 E04614 ROSAS, TANYA 04/03/2025 $201.68 00054779 E01893 SAUCEDO, DANA MARIE 04/03/2025 $2,716.44 00054780 E04926 SERNA, SAMANTHA M 04/03/2025 $386.73 00054781 E05151 SORIANO, KIMBERLY A 04/03/2025 $1,588.61 00054782 E05250 TEJEDA, ANDREA 04/03/2025 $250.96 00054783 E05030 TRIGGS, MARY SHANNON 04/03/2025 $260.01 00054784 E01396 VALDIVIA, CLAUDIA 04/03/2025 $2,995.68 00054785 E00015 VAN SICKLE, JEFFREY 04/03/2025 $2,758.87 00054786 E04687 VARGAS, SAMANTHA B 04/03/2025 $275.13 00054787 E05149 VAZQUEZ CHAVEZ, ELOISA ESMERAL 04/03/2025 $342.57 00054788 E05022 VERA VALDEZ, JULIANNE IRENE I 04/03/2025 $60.55 00054789 E05311 VILLALBA, RACHELL C 04/03/2025 $975.57 00054790 E05227 VILLEGAS, JOSEPH A 04/03/2025 $215.10 00054791 E05231 VOGEL, KATIE L 04/03/2025 $818.35 00054792 E04274 WILMES, DAVID M 04/03/2025 $241.06 00054793 E05070 XOOL VARGAS, RUDY G 04/03/2025 $103.57 00054794 E05076 XU, CHARLIE 04/03/2025 $202.13 00054795 E05226 ZUNIGA, MIA 04/03/2025 $366.47 00054796 E05175 AGUILAR, JENNIFER 04/03/2025 $541.74 Server Name: cognos.ggcity.org User Name: victoriac
198

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 8
Check Vendor # Vendor Name Issue Date Check Amount
00054797 E03819 ALAMILLO, MARCOS R 04/03/2025 $5,235.04 00054798 E03712 ALARCON, CLAUDIA 04/03/2025 $4,105.66 00054799 E03616 ALCARAZ, MARIA A 04/03/2025 $2,544.53 00054800 E04431 ALMEIDA, NICHOLAS 04/03/2025 $5,847.50 00054801 E04873 ALVARADO, MADELINE M 04/03/2025 $2,126.40 00054802 E04080 ALVAREZ BROWN, RICHARD A 04/03/2025 $3,583.18 00054803 E05028 AMAYA, JOSE J 04/03/2025 $4,067.53 00054804 E03011 ANDERSON, BOBBY B 04/03/2025 $3,959.21 00054805 E05206 ANGSAVOTAI-LIGAYA, AMY O 04/03/2025 $2,005.58 00054806 E05040 ARCHULETA, ANDREW M 04/03/2025 $2,197.46 00054807 E05251 ARELLANO JR, JORGE 04/03/2025 $2,466.25 00054808 E01234 ARELLANO, PEDRO R 04/03/2025 $6,586.37 00054809 E04875 ARROYO, SANDRA M 04/03/2025 $3,517.79 00054810 E04497 ASHBAUGH, TIMOTHY R 04/03/2025 $3,379.19 00054811 E03397 ASHBY, PAUL W 04/03/2025 $3,744.82 00054812 E04719 ATWOOD, MARIA S 04/03/2025 $2,448.45 00054813 E04613 AVALOS JR, FRANCISCO 04/03/2025 $6,631.00 00054814 E04033 AVALOS, KATHERINE MARIE 04/03/2025 $2,660.38 00054815 E04550 BAEK, SHARON S 04/03/2025 $2,464.07 00054816 E05062 BAEZ, JASMIN 04/03/2025 $1,780.53 00054817 E04778 BAKER, COLLIN E 04/03/2025 $3,082.10 00054818 E03005 BANKSON, JOHN F 04/03/2025 $6,111.47 00054819 E04645 BARRAZA, RENE 04/03/2025 $3,604.89 00054820 E05041 BARRIOS-ROA, JAYDE D. 04/03/2025 $0.00 00054821 E05253 BEDARD, CHRISTIE L 04/03/2025 $1,975.85 00054822 E04432 BEHZAD, JOSHUA K 04/03/2025 $2,989.97 00054823 E04951 BELLO, ANGELICA 04/03/2025 $2,006.46 00054824 E03006 BELTHIUS, LISA A 04/03/2025 $190.56 00054825 E04976 BELTHIUS, TYLER E 04/03/2025 $1,942.25 00054826 E04753 BERENGER, BEAU A 04/03/2025 $4,602.89 00054827 E03296 BERESFORD, EVAN S 04/03/2025 $3,966.24 00054828 E01604 BERLETH, RYAN S 04/03/2025 $2,445.85 00054829 E03443 BLUM, JAMES A 04/03/2025 $2,301.84 00054830 E03363 BOWEN, GENA M 04/03/2025 $2,265.69 00054831 E04767 BOWMAN, TROY F 04/03/2025 $3,322.52 Server Name: cognos.ggcity.org User Name: victoriac
199

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 9
Check Vendor # Vendor Name Issue Date Check Amount
00054832 E04963 BOYENS III, ROBERT 04/03/2025 $3,714.12 00054833 E00946 BRAME, KAREN D 04/03/2025 $3,279.14 00054834 E04803 BRANTNER, BRITTANEE N 04/03/2025 $1,760.62 00054835 E05083 BRITTON, CODY W 04/03/2025 $2,306.30 00054836 E03380 BROWN, JEFFREY A 04/03/2025 $6,307.77 00054837 E03968 BRUNICK, CARISSA L 04/03/2025 $2,865.12 00054838 E05074 BUJANONDA, CHANON 04/03/2025 $3,728.03 00054839 E02031 BURILLO, RICHARD O 04/03/2025 $5,575.87 00054840 E03972 BUSTILLOS, RYAN V 04/03/2025 $3,422.81 00054841 E05077 CAGLE, RONALD L 04/03/2025 $1,846.07 00054842 E05284 CAIZA NUNEZ, MERWIN D 04/03/2025 $3,385.05 00054843 E03964 CAMARA, DANIEL A 04/03/2025 $3,055.36 00054844 E04074 CAMPOS, JESENIA 04/03/2025 $2,406.57 00054845 E03739 CAPPS, THOMAS A 04/03/2025 $4,475.85 00054846 E05002 CARBALLO, MILTON A 04/03/2025 $0.00 00054847 E05301 CARRILLO, MIKE R 04/03/2025 $1,973.37 00054848 E05302 CASTILLO, JOSE A 04/03/2025 $1,948.55 00054849 E05266 CENDEJAS, MELISSA 04/03/2025 $1,757.21 00054850 E02372 CENTENO, JUAN C 04/03/2025 $4,407.29 00054851 E05252 CHACON JR, JOSE A 04/03/2025 $3,202.22 00054852 E03607 CHANG, DAVID Y H 04/03/2025 $5,906.85 00054853 E03481 CHAURAN HAIRGROVE, TAMMY L 04/03/2025 $2,576.75 00054854 E04498 CHEATHAM, JEROME L 04/03/2025 $4,339.40 00054855 E04414 CHUNG, RANDY G 04/03/2025 $300.46 00054856 E04666 CORTEZ, JULIO C 04/03/2025 $3,442.33 00054857 E04555 CRUZ, REYNA 04/03/2025 $2,332.50 00054858 E01364 DALTON, BRIAN D 04/03/2025 $4,466.68 00054859 E04874 DANG, JOHN 04/03/2025 $3,059.07 00054860 E00126 DANIELEY III, CHARLIE H 04/03/2025 $1,941.93 00054861 E05213 DAO, NHU T 04/03/2025 $2,282.21 00054862 E04503 DAVILA, ISAAC 04/03/2025 $3,700.79 00054863 E04731 DE PADUA, TANNER C 04/03/2025 $3,610.69 00054864 E03691 DELGADO JR, JUAN L 04/03/2025 $4,464.95 00054865 E03395 DIX, JENNIFER A 04/03/2025 $3,214.27 00054866 E05088 DOAN, THOMMY 04/03/2025 $3,366.02 Server Name: cognos.ggcity.org User Name: victoriac
200

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 10
Check Vendor # Vendor Name Issue Date Check Amount
00054867 E02313 DOSCHER, RONALD A 04/03/2025 $3,511.91 00054868 E04586 DOVEAS, CHRISTOPHER C 04/03/2025 $98.63 00054869 E04281 DRISCOLL, RUSSELL B 04/03/2025 $3,154.63 00054870 E04844 DUARTE, TAYLOR M 04/03/2025 $2,902.76 00054871 E04720 DUDLEY, BROC D 04/03/2025 $3,030.44 00054872 E03625 EARLE, CHRISTOPHER M 04/03/2025 $4,344.09 00054873 E03740 EL FARRA, AMIR A 04/03/2025 $5,301.81 00054874 E03927 ELHAMI, MICHAEL K 04/03/2025 $3,465.44 00054875 E03933 ELIZONDO, BENJAMIN M 04/03/2025 $3,588.93 00054876 E04016 ELIZONDO, FLOR DE LIS 04/03/2025 $2,485.99 00054877 E01598 ELSOUSOU, HELENA 04/03/2025 $2,985.97 00054878 E02708 ENRIQUEZ, JOHN G 04/03/2025 $986.69 00054879 E05174 ESCOBAR, MARIANA 04/03/2025 $406.31 00054880 E04334 ESCOBEDO, JOSHUA N 04/03/2025 $4,385.11 00054881 E05305 ESPINOZA, KAREEN G 04/03/2025 $1,956.16 00054882 E02724 ESTLOW, STEPHEN C 04/03/2025 $4,892.20 00054883 E04358 ESTRADA MONSANTO, MICHELLE N 04/03/2025 $4,374.24 00054884 E04748 FAJARDO, JESUS 04/03/2025 $3,509.38 00054885 E04303 FERREIRA JR, HECTOR 04/03/2025 $3,143.40 00054886 E01663 FERRIN, KORY C 04/03/2025 $5,355.29 00054887 E03976 FIGUEREDO, GEORGE R 04/03/2025 $4,271.78 00054888 E04774 FLINN, PATRICIA C 04/03/2025 $0.00 00054889 E02887 FOSTER, VICTORIA M 04/03/2025 $1,543.41 00054890 E04747 FRESENIUS, ROBERT D 04/03/2025 $2,960.08 00054891 E00903 FRUTOS, VERONICA 04/03/2025 $1,977.16 00054892 E05205 GAMINO, ANGEL 04/03/2025 $382.41 00054893 E04729 GARCIA, JOSEPH A 04/03/2025 $2,685.48 00054894 E03086 GARCIA, PETE 04/03/2025 $4,494.20 00054895 E03659 GARNER, AMANDA B 04/03/2025 $2,129.12 00054896 E04351 GERDIN, MICHAEL E 04/03/2025 $3,575.71 00054897 E04542 GIFFORD, ROBERT J 04/03/2025 $3,547.56 00054898 E04401 GLEASON, SEAN M 04/03/2025 $4,175.15 00054899 E04917 GOMEZ, JESUS 04/03/2025 $3,205.54 00054900 E04863 GONZALEZ JR, GONZALO 04/03/2025 $4,637.05 00054901 E05003 HA, DANNY 04/03/2025 $3,808.08 Server Name: cognos.ggcity.org User Name: victoriac
201

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 11
Check Vendor # Vendor Name Issue Date Check Amount
00054902 E04732 HADDEN, TRAVIS J 04/03/2025 $3,716.21 00054903 E04787 HALEY, KYLE N 04/03/2025 $3,325.78 00054904 E03527 HALLER, TROY 04/03/2025 $4,917.42 00054905 E03402 HEINE, STEVEN H 04/03/2025 $5,200.89 00054906 E05157 HERNANDEZ CALLEROS, SAIRA 04/03/2025 $2,566.05 00054907 E04872 HERNANDEZ, KRISTINA L 04/03/2025 $1,863.40 00054908 E02469 HERRERA, JOSE D 04/03/2025 $5,605.94 00054909 E05265 HERRERA, MATTHEW P 04/03/2025 $541.74 00054910 E04244 HINGCO, PINKY C 04/03/2025 $3,042.01 00054911 E03713 HOLLOWAY, WILLIAM T 04/03/2025 $6,303.21 00054912 E04739 HOWARD, JASON A 04/03/2025 $3,382.54 00054913 E04654 HURLEY, KIRK P 04/03/2025 $3,917.80 00054914 E03815 HUYNH, AI KELLY 04/03/2025 $2,923.92 00054915 E03559 HUYNH, THI A 04/03/2025 $4,380.29 00054916 E04915 ITURRALDE, JENNIFER L 04/03/2025 $3,323.67 00054917 E04583 JENSEN, MICHAEL J 04/03/2025 $4,949.80 00054918 E02935 JENSEN, NICKOLAS K 04/03/2025 $4,279.35 00054919 E04587 JIMENEZ JR, EFRAIN A 04/03/2025 $4,411.60 00054920 E04781 JIMENEZ TAVAREZ, SERGIO J 04/03/2025 $4,685.03 00054921 E04655 JOHNSON, CODY M 04/03/2025 $3,001.73 00054922 E03368 JOHNSON, JASON L 04/03/2025 $3,481.79 00054923 E03831 JORDAN, GERALD F 04/03/2025 $3,962.43 00054924 E04610 JORDAN, VICTORIA A 04/03/2025 $2,608.84 00054925 E04559 KELLEY, KRISTOFER D 04/03/2025 $3,818.36 00054926 E04353 KEUILIAN, SHELBY 04/03/2025 $2,531.34 00054927 E04663 KIM, CHAD B 04/03/2025 $2,950.31 00054928 E04641 KIM, EDWARD K 04/03/2025 $243.58 00054929 E05257 KIM, MARY HANBI 04/03/2025 $2,756.46 00054930 E04538 KIMBERLY, ALLYSON L 04/03/2025 $1,236.28 00054931 E05254 KIMMEY, ELIZABETH J 04/03/2025 $1,558.55 00054932 E03932 KIVLER, ROBERT J 04/03/2025 $15,890.98 00054933 E03389 KOLANO, JOSEPH L 04/03/2025 $3,049.91 00054934 E03294 KOVACS, LEA K 04/03/2025 $3,672.08 00054935 E05000 KOVACS, TIMOTHY M 04/03/2025 $4,681.88 00054936 E04669 KOVACS, TIMOTHY P 04/03/2025 $1,509.07 Server Name: cognos.ggcity.org User Name: victoriac
202

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 12
Check Vendor # Vendor Name Issue Date Check Amount
00054937 E03484 KUNKEL, PETER M 04/03/2025 $4,202.33 00054938 E04857 LANG, MICHAEL J 04/03/2025 $4,112.40 00054939 E03511 LAZENBY, NICHOLAS A 04/03/2025 $5,025.06 00054940 E04877 LE, BAO TINH THI 04/03/2025 $2,364.39 00054941 E04021 LEE, RAPHAEL M 04/03/2025 $4,834.53 00054942 E03488 LEYVA, ERICK 04/03/2025 $4,660.99 00054943 E04541 LINK, DEREK M 04/03/2025 $4,388.03 00054944 E00030 LOERA JR, RAFAEL 04/03/2025 $5,000.28 00054945 E05033 LOFFLER, CHARLES H 04/03/2025 $5,204.04 00054946 E02645 LOPEZ, DAVID 04/03/2025 $1,915.07 00054947 E05214 LOPEZ, KORINA Y 04/03/2025 $1,780.35 00054948 E05256 LOPEZ, VICTORIA A 04/03/2025 $1,690.06 00054949 E04581 LOWEN, BRADLEY A 04/03/2025 $3,380.39 00054950 E04761 LUCATERO, JESSE A 04/03/2025 $3,845.49 00054951 E00027 LUKAS, STEVEN W 04/03/2025 $2,515.04 00054952 E04048 LUX, ROBERT D 04/03/2025 $2,873.70 00054953 E03663 LUX, RYAN M 04/03/2025 $4,070.25 00054954 E04772 LY, LINDALINH THU 04/03/2025 $2,013.78 00054955 E04661 MACHUCA, ROBERTO 04/03/2025 $3,417.42 00054956 E04532 MANIACI, GIANLUCA F 04/03/2025 $7,416.19 00054957 E04435 MARCHAND, MATTHEW P 04/03/2025 $7,971.92 00054958 E05282 MARRUFO PUENTES, ANDRES 04/03/2025 $2,763.18 00054959 E01359 MARTINEZ JR, MARIO 04/03/2025 $5,146.86 00054960 E05140 MARTINEZ, ERICK 04/03/2025 $810.36 00054961 E04974 MARTINEZ, JUANITA PATRICIA 04/03/2025 $2,347.26 00054962 E02792 MATA, RAQUEL D 04/03/2025 $1,235.63 00054963 E04656 MAZON, JORGE L 04/03/2025 $2,824.92 00054964 E02796 MCFARLANE, MARIA C 04/03/2025 $2,604.00 00054965 E06761 MEEKS, REBECCA S 04/03/2025 $3,130.47 00054966 E03826 MEERS, BRYAN J 04/03/2025 $4,537.40 00054967 E02655 MENDOZA CAMPOS, MELISSA 04/03/2025 $3,265.26 00054968 E03965 MIHALIK, DANNY J 04/03/2025 $3,910.95 00054969 E04804 MONTECINOS, LAUREN MARIE 04/03/2025 $4,143.00 00054970 E04352 MORSE, JEREMY N 04/03/2025 $4,670.05 00054971 E01940 MORTON, NATHAN D 04/03/2025 $4,018.98 Server Name: cognos.ggcity.org User Name: victoriac
203

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 13
Check Vendor # Vendor Name Issue Date Check Amount
00054972 E04454 MOSER, MICHAEL A 04/03/2025 $2,023.19 00054973 E03929 MURILLO JR, RAUL 04/03/2025 $5,142.48 00054974 E04626 MURO, JASON M 04/03/2025 $4,406.01 00054975 E04577 MUSCHETTO, PATRICK J 04/03/2025 $2,352.13 00054976 E03422 NADOLSKI, THOMAS R 04/03/2025 $2,852.41 00054977 E05084 NAKANO HITZKE, SARAH V 04/03/2025 $2,917.77 00054978 E04111 NEELY, JACOB J 04/03/2025 $2,921.89 00054979 E05191 NGO, ALLISON B 04/03/2025 $1,862.33 00054980 E02813 NGUYEN, TRINA T 04/03/2025 $1,905.89 00054981 E04540 NIKOLIC, ADAM C 04/03/2025 $5,214.89 00054982 E05146 NIZ, IXA N 04/03/2025 $3,177.42 00054983 E05054 NUNEZ, BREANNE S 04/03/2025 $2,783.91 00054984 E03350 OLIVO, JOSHUA T 04/03/2025 $4,622.45 00054985 E04035 ORTIZ, STEVEN TRUJILLO 04/03/2025 $2,919.27 00054986 E03427 PANELLA, JOSEPH N 04/03/2025 $10,566.13 00054987 E04910 PAQUA, BRANDON J 04/03/2025 $2,551.98 00054988 E01948 PARK, BRANDY J 04/03/2025 $3,568.73 00054989 E02995 PAYAN, CRISTINA V 04/03/2025 $2,961.49 00054990 E00824 PAYAN, LUIS A 04/03/2025 $5,256.66 00054991 E05200 PAZ, JUAN 04/03/2025 $5,227.24 00054992 E04843 PEREZ, EMMANUEL 04/03/2025 $3,748.58 00054993 E00145 PERKINS, JASON S 04/03/2025 $6,029.69 00054994 E04429 PHAM, PHILLIP H 04/03/2025 $3,458.42 00054995 E05195 PINEDA, MARGO S 04/03/2025 $2,132.90 00054996 E06938 PLUARD, DOUGLAS A 04/03/2025 $6,106.51 00054997 E03299 POLOPEK, COREY T 04/03/2025 $3,182.91 00054998 E05173 PONCE, GALILEA 04/03/2025 $239.00 00054999 E05050 QUANG, DENNIS 04/03/2025 $3,413.59 00055000 E04788 QUIROZ, LUIS A 04/03/2025 $3,713.78 00055001 E05100 RAABE, MATTHEW A 04/03/2025 $2,188.60 00055002 E03967 RAMIREZ OROZCO, SINDY 04/03/2025 $3,914.33 00055003 E04955 RAMIREZ, KAYLYN C 04/03/2025 $1,272.20 00055004 E03390 RAMIREZ, LUIS F 04/03/2025 $3,886.01 00055005 E05021 RAMIREZ, TERRA M 04/03/2025 $4,769.08 00055006 E04914 RAMOS, RODOLFO B 04/03/2025 $1,866.06 Server Name: cognos.ggcity.org User Name: victoriac
204

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 14
Check Vendor # Vendor Name Issue Date Check Amount
00055007 E03217 RANEY, JOHN E 04/03/2025 $4,481.67 00055008 E04941 RASMUSSEN, TRENTON L 04/03/2025 $2,956.26 00055009 E04659 REED, THOMAS S 04/03/2025 $4,170.75 00055010 E03486 REYES, RON A 04/03/2025 $3,561.20 00055011 E04911 RICHARDS, BRYANT D 04/03/2025 $3,164.75 00055012 E04437 RICHMOND, RYAN R 04/03/2025 $4,133.79 00055013 E05229 ROBINSON, IVANA M 04/03/2025 $1,945.98 00055014 E04860 ROCHA, RUDY A 04/03/2025 $2,642.18 00055015 E05287 ROCHOW, BRITTANY A 04/03/2025 $1,596.00 00055016 E04738 RODRIGUEZ, DANIEL 04/03/2025 $3,573.39 00055017 E04082 RODRIGUEZ, JENNIFER M 04/03/2025 $3,352.28 00055018 E05001 RODRIGUEZ, RYAN ELIJAH 04/03/2025 $3,622.30 00055019 E04438 ROGERS, CHRISTIN E 04/03/2025 $3,759.31 00055020 E04385 ROJAS, ASHLEY C 04/03/2025 $2,550.72 00055021 E04507 ROMBOUGH, JENNIFER V 04/03/2025 $2,382.46 00055022 E04552 RUZIECKI, ERIC T 04/03/2025 $4,455.54 00055023 E02845 SALAZAR, SEAN M 04/03/2025 $3,616.85 00055024 E04845 SALGADO JR., ALFREDO 04/03/2025 $2,487.91 00055025 E03297 SAMOFF, TANYA L 04/03/2025 $3,411.23 00055026 E02646 SANTANA, LINO G 04/03/2025 $9,701.82 00055027 E05086 SEELY, BRITTANY L 04/03/2025 $1,286.11 00055028 E03035 SEYMOUR, SUSAN A I 04/03/2025 $2,800.91 00055029 E04282 SHELGREN, CHRISTOPHER M 04/03/2025 $3,864.27 00055030 E04616 SHIPLEY, AARON T 04/03/2025 $3,081.67 00055031 E02937 SHORROW, NICOLE D 04/03/2025 $2,674.98 00055032 E04864 SILVA, LEVI JOENIEL 04/03/2025 $2,687.94 00055033 E05203 SMITH, JAVON 04/03/2025 $3,778.22 00055034 E02587 SOSEBEE, DANNY J 04/03/2025 $4,949.24 00055035 E03563 SPELLMAN, MARSHA D 04/03/2025 $3,314.22 00055036 E04500 STAAL, GAREY D 04/03/2025 $4,425.29 00055037 E03218 STARNES, CHARLES W 04/03/2025 $5,439.82 00055038 E03761 STEPHENSON III, ROBERT M 04/03/2025 $4,933.27 00055039 E04584 STROUD, BRIAN T 04/03/2025 $6,003.18 00055040 E02979 TESSIER, PAUL M 04/03/2025 $3,705.68 00055041 E04449 TRAN, SPENCER T 04/03/2025 $3,572.48 Server Name: cognos.ggcity.org User Name: victoriac
205

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 15
Check Vendor # Vendor Name Issue Date Check Amount
00055042 E05145 VACCARO, CHRISTIAN L 04/03/2025 $509.88 00055043 E02982 VAICARO, VINCENTE J 04/03/2025 $5,469.43 00055044 E03053 VALENCIA, EDGAR 04/03/2025 $4,594.30 00055045 E04667 VAUGHN, CALEB I 04/03/2025 $3,225.30 00055046 E04434 VELLANOWETH, KIMBRA S 04/03/2025 $2,501.63 00055047 E04903 VIGIL, DANIEL C 04/03/2025 $2,670.49 00055048 E03022 VU, TUONG-VAN NGUYEN 04/03/2025 $2,750.88 00055049 E04730 VU, TYLER D 04/03/2025 $2,502.19 00055050 E01905 WAINWRIGHT, JONATHAN B 04/03/2025 $3,548.83 00055051 E03220 WARDLE, DENNIS 04/03/2025 $13,474.71 00055052 E03213 WARDLE, SANTA 04/03/2025 $2,187.44 00055053 E04758 WEYKER, CHRYSTAL L 04/03/2025 $2,107.94 00055054 E04006 WILLIAMS, RICHARD L 04/03/2025 $859.32 00055055 E03305 WIMMER, ROYCE C 04/03/2025 $4,941.52 00055056 E04762 WREN, DANIELLE E 04/03/2025 $3,070.51 00055057 E04856 XU, DUO 04/03/2025 $2,224.31 00055058 E03543 YELENSKY, SHANNON M 04/03/2025 $7,073.81 00055059 E04156 YERGLER, JOHN J 04/03/2025 $5,711.46 00055060 E04722 YNIGUEZ, COLE A 04/03/2025 $3,114.54 00055061 E09942 YOUNG, DAVID C 04/03/2025 $793.30 00055062 E01978 ZMIJA, ADAM D 04/03/2025 $5,324.80 00055063 E05308 AGEE, KAITLIN M 04/03/2025 $1,958.51 00055064 E05271 AGUILAR, KEVIN A 04/03/2025 $1,420.51 00055065 E04517 AGUIRRE, ALFRED J 04/03/2025 $3,383.82 00055066 E01626 AGUIRRE, ANSELMO 04/03/2025 $2,177.46 00055067 E04163 AMBRIZ GARCIA, EDWARD D 04/03/2025 $3,323.15 00055068 E05207 AN, TONY W 04/03/2025 $4,216.80 00055069 E04631 ANDREI, IOAN 04/03/2025 $1,379.96 00055070 E04678 BABINSKI IV, SYLVESTER A 04/03/2025 $2,348.83 00055071 E04336 BECERRA, RODOLPHO M 04/03/2025 $2,394.53 00055072 E04972 BECERRA-SAMANIEGO JR, GABRIEL 04/03/2025 $1,985.97 00055073 E05210 BERNAL, JASON 04/03/2025 $659.74 00055074 E01255 BOS, MICHAEL C 04/03/2025 $2,368.15 00055075 E05162 CAISEROS, CHRISTIAN 04/03/2025 $992.77 00055076 E01584 CANDELARIA, DANIEL J 04/03/2025 $4,641.47 Server Name: cognos.ggcity.org User Name: victoriac
206

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 16
Check Vendor # Vendor Name Issue Date Check Amount
00055077 E04300 CANO, EDGAR A 04/03/2025 $2,979.22 00055078 E05280 CANTARERO, LESLY P 04/03/2025 $3,005.63 00055079 E03828 CANTRELL, JEFFREY G 04/03/2025 $2,554.40 00055080 E05217 CARRILLO HERNANDEZ, ERWIN R 04/03/2025 $135.53 00055081 E03811 CARRISOZA, ALBERT J 04/03/2025 $2,489.82 00055082 E00916 CARTER, PHILLIP J 04/03/2025 $3,696.69 00055083 E05279 CASTILLO, JOSEPH A 04/03/2025 $595.23 00055084 E04869 CHAVEZ, DAMIAN JESUS 04/03/2025 $883.08 00055085 E04551 CONTRERAS, GABRIELA R 04/03/2025 $3,164.08 00055086 E03518 COTTON, JULIE T 04/03/2025 $1,965.45 00055087 E03807 DE LA ROSA, VINCENT L 04/03/2025 $3,442.11 00055088 E05170 DELGADO REYES, JORGE A 04/03/2025 $1,683.09 00055089 E03736 DIBAJ, KAMYAR 04/03/2025 $3,587.69 00055090 E05122 DORADO, ANTHONY 04/03/2025 $1,827.57 00055091 E04514 ESPINOZA, ERIC M 04/03/2025 $2,263.49 00055092 E03733 ESPINOZA, JULIA 04/03/2025 $1,408.67 00055093 E03405 FERNANDEZ, CECELIA A 04/03/2025 $1,382.40 00055094 E04990 FLORES, MITCHELL C 04/03/2025 $2,013.60 00055095 E05037 GAINES, JEFFREY S 04/03/2025 $1,044.57 00055096 E05010 GALVAN, EDGAR 04/03/2025 $1,111.40 00055097 E04754 GARCIA, ALICIA R 04/03/2025 $1,783.50 00055098 E04677 GIROUARD, CASEY G 04/03/2025 $374.56 00055099 E05156 GOMEZ HERNANDEZ, RICARDO 04/03/2025 $1,111.12 00055100 E04629 GOMEZ, DIANA 04/03/2025 $1,079.07 00055101 E03341 GONZALEZ, JORGE 04/03/2025 $1,930.92 00055102 E03400 GREENE, MICHAEL R 04/03/2025 $799.05 00055103 E03685 GUZMAN, JESSE 04/03/2025 $2,371.76 00055104 E04299 HANSEN, AARON R 04/03/2025 $2,284.08 00055105 E03523 HARO, GLORIA A 04/03/2025 $1,348.42 00055106 E03759 HERNANDEZ, HERMILO 04/03/2025 $47.61 00055107 E04622 HOFER, ALICIA M 04/03/2025 $2,650.13 00055108 E04347 HSIEH, NICOLAS C 04/03/2025 $3,646.71 00055109 E03588 HUYNH, HUY HOA 04/03/2025 $2,563.69 00055110 E04831 ILFELD, MATTHEW D 04/03/2025 $2,570.51 00055111 E01907 JACOT, ROSEMARIE 04/03/2025 $2,319.97 Server Name: cognos.ggcity.org User Name: victoriac
207

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 17
Check Vendor # Vendor Name Issue Date Check Amount
00055112 E05292 JIMENEZ, ROBERT G 04/03/2025 $799.19 00055113 E04296 JOHNSON, ERIC W 04/03/2025 $2,114.86 00055114 E04979 JURADO, MICHAEL 04/03/2025 $1,387.34 00055115 E04470 KAYLOR, BRENT 04/03/2025 $2,519.08 00055116 E04728 KHALIL, MARK M 04/03/2025 $2,880.36 00055117 E03534 KIM, SAMUEL K 04/03/2025 $4,809.21 00055118 E04382 KWIATKOWSKI, BRYAN D 04/03/2025 $2,184.50 00055119 E04769 LAMAS, LEONEL A 04/03/2025 $2,327.67 00055120 E03813 LEWIS, SHAN L 04/03/2025 $3,292.67 00055121 E03301 LEYVA, RAUL 04/03/2025 $4,722.59 00055122 E05065 LOMELI, JONATHAN 04/03/2025 $1,763.13 00055123 E05202 LONDONO, MARTIN A 04/03/2025 $2,985.75 00055124 E05155 LOPEZ, MOISES 04/03/2025 $1,162.43 00055125 E05198 MALDONADO, RICARDO 04/03/2025 $2,691.74 00055126 E05006 MARQUEZ, STEVEN ADAM 04/03/2025 $1,337.45 00055127 E05273 MARTINEZ, ANDRES 04/03/2025 $2,136.15 00055128 E04665 MEJIA, DIEGO A 04/03/2025 $2,333.62 00055129 E03493 MENDEZ, RIGOBERTO 04/03/2025 $2,718.24 00055130 E04998 MENDOZA, LAURA 04/03/2025 $1,166.27 00055131 E04724 MOORE, DOUGLAS A 04/03/2025 $2,691.00 00055132 E04827 MORELAND, ANDREW J 04/03/2025 $2,144.42 00055133 E04222 MOSS, DANIEL C 04/03/2025 $0.00 00055134 E01243 MURRAY JR, WILLIAM E 04/03/2025 $7,329.13 00055135 E04634 NAVARRO, JUAN C 04/03/2025 $3,517.97 00055136 E03923 ORNELAS, ANDREW I 04/03/2025 $3,482.81 00055137 E04969 ORNELLAS, MICHAEL 04/03/2025 $1,615.93 00055138 E05272 ORTIZ, JESSE 04/03/2025 $949.45 00055139 E03378 ORTIZ, STEVEN T 04/03/2025 $4,992.16 00055140 E04999 ORTUNO, ANIBAL 04/03/2025 $538.57 00055141 E05288 PADILLA, JOE L 04/03/2025 $1,360.00 00055142 E03754 PINKSTON, RICHARD L 04/03/2025 $2,547.20 00055143 E05112 POE, HEIDI L 04/03/2025 $3,129.40 00055144 E04567 POWELL, AUSTIN H 04/03/2025 $2,965.16 00055145 E03799 QUIROZ, ROLANDO 04/03/2025 $3,223.32 00055146 E05201 RAMIREZ, DANIEL A 04/03/2025 $1,364.41 Server Name: cognos.ggcity.org User Name: victoriac
208

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 18
Check Vendor # Vendor Name Issue Date Check Amount
00055147 E05258 RAMIREZ, GREGORY A 04/03/2025 $2,420.26 00055148 E04572 REED, MELVIN P 04/03/2025 $2,481.97 00055149 E02058 REYES, DELFRADO C 04/03/2025 $1,406.28 00055150 E04295 ROBLES, RAFAEL 04/03/2025 $2,365.97 00055151 E04563 RODRIGUEZ, ADRIANNA M 04/03/2025 $1,500.22 00055152 E05285 RODRIGUEZ, RUDY R 04/03/2025 $1,742.81 00055153 E05004 RUELAS, SERGIO 04/03/2025 $2,473.50 00055154 E04289 SALDIVAR, RICARDO 04/03/2025 $2,827.49 00055155 E05067 SANCHEZ, MARTIN 04/03/2025 $375.58 00055156 E05290 SERNA RODRIGUEZ, BRIZA 04/03/2025 $768.24 00055157 E05299 SOTO, JONATHAN 04/03/2025 $955.75 00055158 E04836 SOTO, WILLIAM A 04/03/2025 $2,037.93 00055159 E05089 STAIR, DEAN T 04/03/2025 $805.94 00055160 E03091 SUDDUTH, STEPHEN D 04/03/2025 $3,248.59 00055161 E01625 TAPIA, LUIS A 04/03/2025 $3,241.01 00055162 E03239 TAUANU U, STEVE J 04/03/2025 $2,244.00 00055163 E05154 TELLO, ALEJANDRO 04/03/2025 $882.11 00055164 E04773 THURMAN JR, EDWIN O 04/03/2025 $1,241.81 00055165 E04825 TRUJILLO, JOSEPH E 04/03/2025 $1,839.52 00055166 E02482 UPHUS, MARK P 04/03/2025 $5,794.12 00055167 E03681 VASQUEZ, JOSE A 04/03/2025 $3,284.28 00055168 E05134 VEGA, ERIC J 04/03/2025 $1,856.73 00055169 E03727 VERGARA NEAL, ANA G 04/03/2025 $3,938.39 00055170 E05093 VIRAMONTES, ALEXANDRA 04/03/2025 $3,176.60 00055171 E01580 VU, DAI C 04/03/2025 $4,058.84 00055172 E05275 XITAMUL, JASON A 04/03/2025 $1,558.49 00055173 E03436 ZIEGLER, RICK S 04/03/2025 $878.99 00055174 E03917 ALLEN, CHRISTOPHER L 04/03/2025 $1,938.35 00055175 E05098 BARNESE, VINCENZO A 04/03/2025 $2,541.83 00055176 E05307 BENSON, DANIEL J 04/03/2025 $1,364.50 00055177 E04063 BERGER, JAN 04/03/2025 $3,902.91 00055178 E00651 BERMUDEZ, ROBERT P 04/03/2025 $3,749.29 00055179 E03495 BLAS, VICTOR T 04/03/2025 $647.94 00055180 E00070 CANNON, TIM P 04/03/2025 $3,284.32 00055181 E04365 DAN, CARINA M 04/03/2025 $2,803.85 Server Name: cognos.ggcity.org User Name: victoriac
209

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 19
Check Vendor # Vendor Name Issue Date Check Amount
00055182 E04440 DAVIS, RYAN H 04/03/2025 $2,086.35 00055183 E03145 DE LA ROSA, FRANK X 04/03/2025 $1,486.99 00055184 E03051 DIEMERT, RONALD W 04/03/2025 $2,731.88 00055185 E02718 ESCOBAR, CHRIS N 04/03/2025 $3,117.00 00055186 E03688 GLENN, JEREMY J 04/03/2025 $680.16 00055187 E01618 GOMEZ, JOSE 04/03/2025 $3,410.43 00055188 E02701 GONZALEZ, ALEJANDRO 04/03/2025 $3,351.60 00055189 E03763 GRIFFIN, LARRY 04/03/2025 $1,521.90 00055190 E04828 GUERRERO, MICHAEL V 04/03/2025 $2,964.47 00055191 E04018 HAENDIGES, ROBERT A 04/03/2025 $2,314.34 00055192 E03575 HART, RYAN S 04/03/2025 $2,199.48 00055193 E03399 HOWENSTEIN, FRANK D 04/03/2025 $2,860.60 00055194 E03406 HUY, EDWARD A 04/03/2025 $2,922.68 00055195 E03446 JIMENEZ, VIDAL 04/03/2025 $4,200.69 00055196 E04782 JIN, LIYAN 04/03/2025 $3,249.42 00055197 E03254 KIRZHNER, ALLEN G 04/03/2025 $4,286.28 00055198 E05115 KOUTSOYANOPULOS, ALDOCHRIS V 04/03/2025 $2,052.73 00055199 E02852 LADNEY, MARK W 04/03/2025 $2,938.20 00055200 E03988 LI, REBECCA PIK KWAN 04/03/2025 $4,342.07 00055201 E02063 MA AE, DAVID 04/03/2025 $2,348.00 00055202 E05168 MACIAS, DANIEL 04/03/2025 $1,856.82 00055203 E03249 MANSON, RAQUEL K 04/03/2025 $3,137.63 00055204 E04837 MARTINEZ, ALFREDO 04/03/2025 $2,238.95 00055205 E02124 MEISLAHN, TYLER 04/03/2025 $2,213.12 00055206 E04403 MONTGOMERY, JESSE K 04/03/2025 $4,229.57 00055207 E03590 MOYA JR, STEVEN J 04/03/2025 $2,651.78 00055208 E03519 MURAD, BASIL G 04/03/2025 $3,071.18 00055209 E03144 NATLAND, KIRK L 04/03/2025 $1,788.95 00055210 E04291 NGUYEN, DUC TRUNG 04/03/2025 $4,436.28 00055211 E03221 NICOLAE, CORNELIU 04/03/2025 $3,655.86 00055212 E04210 NUNES, BRANDON S 04/03/2025 $2,193.93 00055213 E03582 ORTEGA, DAVID A 04/03/2025 $3,403.07 00055214 E04805 POLIDORI, JESSICA J 04/03/2025 $2,544.19 00055215 E02500 PORRAS, STEPHEN 04/03/2025 $4,334.07 00055216 E05031 RAMIREZ, AACIN 04/03/2025 $2,172.29 Server Name: cognos.ggcity.org User Name: victoriac
210

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 20
Check Vendor # Vendor Name Issue Date Check Amount
00055217 E07590 RUITENSCHILD, LES A 04/03/2025 $4,187.30 00055218 E03926 RUIZ, JONATHAN 04/03/2025 $3,013.40 00055219 E05165 SANCHEZ, ALLEN J 04/03/2025 $1,418.33 00055220 E07690 SANTOS, ALEXIS 04/03/2025 $2,204.97 00055221 E04956 SON, TOMMY T 04/03/2025 $2,329.90 00055222 E04301 TALAMANTES JR, ALBERT 04/03/2025 $3,018.78 00055223 E04121 TRAN, MINH K 04/03/2025 $2,340.66 00055224 E05136 VASQUEZ, PEDRO I 04/03/2025 $4,112.83 00055225 E01882 VIRAMONTES, JESSE 04/03/2025 $2,808.81 00055226 E04195 WOLLAND, RONALD J 04/03/2025 $2,425.01 00055227 E09940 YERGENSEN, VICTOR K 04/03/2025 $3,095.69 00055228 E05169 ZAMORA, JOEL D 04/03/2025 $2,468.36 00055229 E09954 ZAVALA, JOHN 04/03/2025 $4,333.23 00055230 E05212 AREGUINI, SARA 04/03/2025 $715.34 00055231 E05099 BECK, CRAIG A 04/03/2025 $2,808.10 00055232 E00740 BLODGETT, GREG 04/03/2025 $5,092.13 00055233 E01338 CARRENO, SHAUNA J 04/03/2025 $2,138.96 00055234 E03808 CHENG, ALANA R 04/03/2025 $3,175.72 00055235 E03353 COVARRUBIAS, MONICA 04/03/2025 $3,932.72 00055236 E04750 HO, VY D 04/03/2025 $2,196.63 00055237 E04968 HONG, SEUNGBUM 04/03/2025 $2,523.21 00055238 E02612 KLOESS, VILMA C 04/03/2025 $3,293.59 00055239 E01949 LE, IVY 04/03/2025 $2,131.44 00055240 E05092 LE, LINH D 04/03/2025 $2,304.48 00055241 E01280 LE, TAMMY 04/03/2025 $1,711.03 00055242 E03617 LEE, GRACE E 04/03/2025 $3,340.69 00055243 E05159 LUNA-REYNOSA, URSULA 04/03/2025 $7,213.00 00055244 E05289 MACIAS, KARINA 04/03/2025 $1,334.92 00055245 E05180 MEDINA, MELANIE 04/03/2025 $1,892.17 00055246 E02895 MOURE, SVETLANA 04/03/2025 $2,658.67 00055247 E05181 NGUYEN, DAVID 04/03/2025 $2,091.21 00055248 E03255 NGUYEN, PHUONG VIEN T 04/03/2025 $2,319.59 00055249 E02560 NGUYEN, QUANG 04/03/2025 $2,814.84 00055250 E01286 NGUYEN, TINA T 04/03/2025 $3,342.27 00055251 E03541 PHI, THYANA T 04/03/2025 $3,204.55 Server Name: cognos.ggcity.org User Name: victoriac
211

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Apr 3, 2025
Report Generated on Apr 2, 2025 12:53:53 PM Page 21
Check Vendor # Vendor Name Issue Date Check Amount
00055252 E05106 ROMERO, ALEX 04/03/2025 $2,116.81 00055253 E05211 SURJONO, FRUMENTIUS C 04/03/2025 $709.04 00055254 E04408 THRONE, TIMOTHY E 04/03/2025 $2,609.75 00055255 E02543 TO, TANYA L 04/03/2025 $2,136.52 00055256 E01971 TRAN, CUONG K 04/03/2025 $2,502.54 00055257 E02056 TRUONG, ELAINE 04/03/2025 $1,873.97 00055258 E05293 TRUONG, MACKENZIE 04/03/2025 $1,526.94 00055259 E02562 VO, THANH-NGUYEN 04/03/2025 $2,141.41 00055260 E05104 YANG, DANA DAEUN 04/03/2025 $2,407.10 EFT - Total $1,791,719.27
Overall - Total $1,810,623.59
Server Name: cognos.ggcity.org User Name: victoriac
212

City of Garden Grove
Certificate of Warrants
Register Date:

May 1, 2025
This is to certify the demands covered by EFT numbers 00055913 through 00056563 and check numbers 00186104 through 00186119 inclusive as listed on this register and have been verified by the Finance Division as properly issued and bear all proper signatures.

Note:

Finance Director
Patricia Song

Finance Director
213

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 2
PY - Payroll
Check Type: CHK
Check Vendor # Vendor Name Issue Date Check Amount
00186104 E05264 LAWRENZ, CHRISTIAN M 05/01/2025 $633.56 00186105 E05313 MOORE, JACOB D 05/01/2025 $2,368.25 00186106 E00977 BELAIR, DIANE 05/01/2025 $2,264.56 00186107 E05262 FLORES, JAVIER 05/01/2025 $2,439.63 00186108 E05315 CARDENAS, ANTHONY A 05/01/2025 $610.05 00186109 E05124 NGUYEN, KAYLA H 05/01/2025 $95.14 00186110 E05309 VASQUEZ, JADE F 05/01/2025 $91.02 00186111 E05318 GARCIA, JAZLYN M 05/01/2025 $371.48 00186112 E05319 GOMEZ, JULIO C 05/01/2025 $510.79 00186113 E05320 GUILLEN, ASHLEY 05/01/2025 $662.61 00186114 E04444 JULIENNE, PATRICK R 05/01/2025 $4,296.60 00186115 E05306 BISHOP, AIDAN M 05/01/2025 $1,238.09 00186116 E05314 ESCOBAR, JAVIER 05/01/2025 $1,343.88 00186117 E05312 GUTIERREZ, JOSE 05/01/2025 $1,179.84 00186118 E03529 ROCHA, MICHAEL F 05/01/2025 $2,477.68 00186119 E05300 PHAM, TRUC N 05/01/2025 $2,446.59 CHK - Total $23,029.77
Check Type: EFT
Check Vendor # Vendor Name Issue Date Check Amount
00055913 E05295 ARESTEGUI, ARIANA 05/01/2025 $756.55 00055914 E03982 BECKLES, CAROL E 05/01/2025 $49.27 00055915 E04755 BRIETIGAM III, GEORGE S 05/01/2025 $678.51 00055916 E03423 CHOWDHURY, JACINTA F 05/01/2025 $2,210.28 00055917 E05080 DOVINH, JOSEPH T 05/01/2025 $719.61 00055918 E04994 GREENUP, BREANNA C 05/01/2025 $1,208.19 00055919 E00803 GRIMM, PAMELA M 05/01/2025 $2,261.42 00055920 E04131 HERREN, NOELLE N 05/01/2025 $2,507.79 00055921 E05268 KIM, JUDY M 05/01/2025 $1,446.89 00055922 E04442 KIM, LISA L 05/01/2025 $7,446.84 00055923 E04536 KLOPFENSTEIN, STEPHANIE L 05/01/2025 $670.95 00055924 E05072 LOPEZ, CARLOS 05/01/2025 $1,062.41 00055925 E02787 MORAN, MARIE L 05/01/2025 $3,056.60 Server Name: cognos.ggcity.org User Name: victoriac
214

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 3
Check Vendor # Vendor Name Issue Date Check Amount
00055926 E05294 MUNETON, YESENIA P 05/01/2025 $778.97 00055927 E05297 NGUYEN, PHILLIP P 05/01/2025 $726.36 00055928 E05035 NGUYEN, TAN V 05/01/2025 $49.27 00055929 E04528 PARK, SHAWN S 05/01/2025 $2,943.82 00055930 E05057 SATO, MICHI L 05/01/2025 $2,915.73 00055931 E05259 SERRATO RODRIGUEZ, DIANA 05/01/2025 $1,896.29 00055932 E03715 THAI, KRISTY H 05/01/2025 $2,731.86 00055933 E05079 TRAN, CINDY NGOC 05/01/2025 $787.33 00055934 E03983 VASQUEZ, LIZABETH C 05/01/2025 $3,077.84 00055935 E04971 VITAL, ANDREA 05/01/2025 $2,095.68 00055936 E05192 WEST, MATTHEW S 05/01/2025 $7,324.67 00055937 E04944 ANDERSON CAMBA, ASHLEIGH R 05/01/2025 $2,693.39 00055938 E04764 BRADLEY, JANNA K 05/01/2025 $3,477.25 00055939 E03766 CERDA, MARY C 05/01/2025 $2,343.37 00055940 E05316 CHHEN, SUSAN S 05/01/2025 $2,203.69 00055941 E05317 JONES, SOPHIA MADELAINE 05/01/2025 $1,716.59 00055942 E04363 KWAN, LIANE Y 05/01/2025 $4,358.86 00055943 E01985 LEE, JANY H 05/01/2025 $5,360.08 00055944 E05078 SANCHEZ, GIOVANNI P 05/01/2025 $2,375.13 00055945 E04417 STEPHENSON, CAITLYN M 05/01/2025 $2,849.83 00055946 E05286 TRAN BELLEVILLE, LYDIA M 05/01/2025 $2,811.18 00055947 E04390 AMBRIZ, STEPHANIE 05/01/2025 $1,680.51 00055948 E04445 BROWN, KAREN J 05/01/2025 $993.72 00055949 E04961 CHAO, VICTORIA 05/01/2025 $1,885.22 00055950 E03686 CHAVEZ, JAIME F 05/01/2025 $1,709.56 00055951 E03760 CHUNG, JANET J 05/01/2025 $2,553.95 00055952 E05094 CORTEZ, ELIZABETH M. 05/01/2025 $2,360.16 00055953 E04960 FUKAZAWA, KEISUKE 05/01/2025 $2,396.44 00055954 E03877 GOMEZ, STEVEN E 05/01/2025 $2,448.20 00055955 E03429 GULLEY, SUSAN J 05/01/2025 $370.80 00055956 E04673 HART, BRANDI M 05/01/2025 $1,740.58 00055957 E03016 HERNANDEZ, GARY F 05/01/2025 $2,502.79 00055958 E04569 HOFFMAN, CORINNE L 05/01/2025 $2,528.94 00055959 E05304 LIVA, CHRISTOPHER T 05/01/2025 $2,207.63 00055960 E05167 LOFFLER, SARAH N 05/01/2025 $1,872.99 Server Name: cognos.ggcity.org User Name: victoriac
215

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 4
Check Vendor # Vendor Name Issue Date Check Amount
00055961 E00057 MANALANSAN, NEAL M 05/01/2025 $2,413.10 00055962 E01668 MAY, ROBERT W 05/01/2025 $1,737.05 00055963 E01393 MENDEZ, ANGELA M 05/01/2025 $2,278.04 00055964 E03628 MENDOZA, CHRISTI C 05/01/2025 $2,318.85 00055965 E05261 MENDOZA, MARELLA L F 05/01/2025 $2,046.57 00055966 E04958 NGO, TINA 05/01/2025 $2,907.52 00055967 E02429 PHAM, ANH 05/01/2025 $1,901.53 00055968 E05303 PHAN, NIKKIE N.Q. 05/01/2025 $2,183.09 00055969 E03610 RAMIREZ, EVA 05/01/2025 $2,317.25 00055970 E04973 RAMOS, NANCY 05/01/2025 $3,915.01 00055971 E05097 RODRIGUEZ, SEBASTIAN 05/01/2025 $2,353.79 00055972 E03539 SEGAWA, SANDRA E 05/01/2025 $3,820.69 00055973 E04780 SONG, YUAN 05/01/2025 $5,848.87 00055974 E03085 VICTORIA, PAUL E 05/01/2025 $2,335.84 00055975 E04859 VO, MY TRA 05/01/2025 $3,743.49 00055976 E05270 VO, NICOLE C 05/01/2025 $2,083.91 00055977 E03433 WESTON, RETA J 05/01/2025 $660.71 00055978 E04527 YOO, MEENA 05/01/2025 $2,711.22 00055979 E04493 ANDREWS, STEVEN F 05/01/2025 $3,041.98 00055980 E00845 CHANG, TERENCE S 05/01/2025 $3,605.57 00055981 E05091 ENCISO, MARIA VERONICA M 05/01/2025 $2,500.60 00055982 E03498 ESPINOZA, VERNA L 05/01/2025 $2,464.97 00055983 E04523 GALLO, CESAR 05/01/2025 $3,948.72 00055984 E04415 GOLD, ANNA L 05/01/2025 $2,383.91 00055985 E04713 HINGCO, ERNIE E 05/01/2025 $2,364.21 00055986 E02617 KLOESS, GEOFFREY A 05/01/2025 $7,194.07 00055987 E05238 LE, JEFFREY D 05/01/2025 $1,513.39 00055988 E03571 MORAGRAAN, RACHOT 05/01/2025 $4,274.89 00055989 E05071 OCHOA, NICOLAS E 05/01/2025 $2,791.40 00055990 E01277 PROFFITT, NOEL J 05/01/2025 $3,880.82 00055991 E01901 RAO, ANAND V 05/01/2025 $9,223.86 00055992 E05073 SEYMOUR, DAVID M 05/01/2025 $2,094.22 00055993 E04395 SWANSON, MATTHEW T 05/01/2025 $1,939.90 00055994 E01674 VALENZUELA, ANTHONY 05/01/2025 $1,802.46 00055995 E00809 VICTORIA, ROD T 05/01/2025 $2,855.45 Server Name: cognos.ggcity.org User Name: victoriac
216

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 5
Check Vendor # Vendor Name Issue Date Check Amount
00055996 E03725 ABU HAMDIYYAH, AMEENAH 05/01/2025 $2,112.59 00055997 E05215 ANDUJO, ADRIAN S 05/01/2025 $2,263.52 00055998 E02996 ASHLEIGH, JULIE A 05/01/2025 $2,377.85 00055999 E05194 AVILA, RAFAEL B 05/01/2025 $3,206.50 00056000 E05208 BROWN, ANDRE P 05/01/2025 $2,531.52 00056001 E03601 CHUNG, CHRISTOPHER 05/01/2025 $12,646.93 00056002 E00128 CRAMER, RITA M 05/01/2025 $2,714.02 00056003 E04394 DAHLHEIMER, BRYSON T 05/01/2025 $0.00 00056004 E04879 DAKE, RYAN J 05/01/2025 $2,587.37 00056005 E04578 DENT, DAVID A 05/01/2025 $5,066.37 00056006 E05216 HERNANDEZ, ZACHARY L 05/01/2025 $2,439.55 00056007 E03410 HODSON, AARON J 05/01/2025 $2,310.64 00056008 E04716 KASKLA, PRIIT J 05/01/2025 $2,683.09 00056009 E04959 LE, KENNETH H 05/01/2025 $1,868.15 00056010 E04490 LY, HUONG Q 05/01/2025 $3,333.42 00056011 E04194 MARTINEZ, MARIA L 05/01/2025 $3,239.09 00056012 E05188 MERCADO RODRIGUEZ, MONICA 05/01/2025 $3,852.30 00056013 E04635 NGUYEN, PHU T 05/01/2025 $3,953.80 00056014 E02842 PARRA, MARIA C 05/01/2025 $4,083.67 00056015 E05249 PLASCENCIA, AMANDA C 05/01/2025 $2,220.49 00056016 E05172 QUENTAL, RYAN 05/01/2025 $2,339.52 00056017 E04992 ROBLES, ALFONSO 05/01/2025 $2,878.73 00056018 E05310 SEBBO, CAROL A 05/01/2025 $1,968.76 00056019 E04862 TRAN, JAKE P 05/01/2025 $2,287.86 00056020 E05209 TRAN, KAREN 05/01/2025 $844.07 00056021 E05048 TUONG, NGHIA T 05/01/2025 $2,469.51 00056022 E05053 VU, VINNY X 05/01/2025 $2,839.07 00056023 E05150 WETZEL, NIKI 05/01/2025 $4,236.85 00056024 E03643 ALVARADO, YOLANDA A 05/01/2025 $2,130.80 00056025 E05269 APODACA, ANGELA M 05/01/2025 $981.29 00056026 E04771 BAILOR, REBECCA J 05/01/2025 $914.62 00056027 E04988 BAUTISTA, BRENDA 05/01/2025 $635.88 00056028 E02658 CAMARENA, RACHEL M 05/01/2025 $2,316.18 00056029 E01588 CAMARENA, RENE 05/01/2025 $2,793.49 00056030 E01902 CASILLAS, VICTORIA M 05/01/2025 $2,840.91 Server Name: cognos.ggcity.org User Name: victoriac
217

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 6
Check Vendor # Vendor Name Issue Date Check Amount
00056031 E05101 CASTANEDA, LILIANA 05/01/2025 $607.52 00056032 E05121 CASTRO PEREZ, ANDREA 05/01/2025 $215.10 00056033 E05058 CATAQUIZ, CHARLIZE N 05/01/2025 $164.34 00056034 E03304 CHUMACERO, DEANNA M 05/01/2025 $2,049.94 00056035 E05278 COLIN, ANGELICA 05/01/2025 $185.74 00056036 E04611 CROSS, AMANDA D 05/01/2025 $2,407.88 00056037 E04814 DE ROSAS, VICTOR 05/01/2025 $881.90 00056038 E05013 DINH, TIFFANY 05/01/2025 $656.06 00056039 E05222 DO, LOC T 05/01/2025 $410.18 00056040 E05228 DUONG, KYLA T 05/01/2025 $127.70 00056041 E05281 ENGLEBERT, BRIDGET L 05/01/2025 $534.87 00056042 E05158 FABIAN, SHARON J 05/01/2025 $637.44 00056043 E05015 FALETOI, TERRY U 05/01/2025 $438.01 00056044 E05127 FLORES, ERIKA 05/01/2025 $270.88 00056045 E02120 FRAUSTO, LUIZ F 05/01/2025 $466.10 00056046 E04679 FREEMAN, MARK C 05/01/2025 $4,322.67 00056047 E04481 GARCIA, JARED D 05/01/2025 $452.01 00056048 E05185 GARCIA, KATY 05/01/2025 $813.59 00056049 E05069 GARCIA, VERONICA 05/01/2025 $122.91 00056050 E05225 GONZALEZ, ETHAN Z 05/01/2025 $199.17 00056051 E00940 GRANT, JACOB R 05/01/2025 $2,204.16 00056052 E05276 GUIDRY, TARIQ A 05/01/2025 $526.27 00056053 E04967 HASHEMI, SETAREH 05/01/2025 $473.49 00056054 E05152 HERNANDEZ, CLARISSA 05/01/2025 $732.95 00056055 E05221 HUANG, WENDY Y 05/01/2025 $717.81 00056056 E05147 LE, WILSON D 05/01/2025 $207.14 00056057 E05032 LEE, JASON J 05/01/2025 $415.19 00056058 E03603 MA AE, ELAINE M 05/01/2025 $3,320.85 00056059 E05148 MAZARIEGOS, ALEXA X 05/01/2025 $592.55 00056060 E01552 MEDINA, JESUS 05/01/2025 $1,823.94 00056061 E00455 MEDINA, JUAN 05/01/2025 $2,568.69 00056062 E05186 MELVIN, ALEXIS 05/01/2025 $1,187.14 00056063 E02808 MONTANCHEZ, JOHN A 05/01/2025 $6,540.83 00056064 E04947 NGUYEN, ALEXANDER H 05/01/2025 $208.74 00056065 E05220 NGUYEN, JASON H 05/01/2025 $586.12 Server Name: cognos.ggcity.org User Name: victoriac
218

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 7
Check Vendor # Vendor Name Issue Date Check Amount
00056066 E05108 NGUYEN, JORDAN V 05/01/2025 $311.39 00056067 E05120 NGUYEN, VICKY 05/01/2025 $398.84 00056068 E04391 NICHOLAS, NOEL N 05/01/2025 $1,601.54 00056069 E04931 NODAL, NATALIE 05/01/2025 $687.42 00056070 E00785 OCADIZ HERNANDEZ, GABRIELA 05/01/2025 $3,194.42 00056071 E04965 ORDUNO, SAMANTHA 05/01/2025 $508.35 00056072 E03361 PELAYO, JANET E 05/01/2025 $4,719.51 00056073 E04777 PHAN, EDOUARD T 05/01/2025 $327.69 00056074 E03893 PICKRELL, ARIELLE 05/01/2025 $1,060.39 00056075 E05116 PRADO, ALEXA 05/01/2025 $354.24 00056076 E05224 RAMIREZ, JOCELYN 05/01/2025 $493.94 00056077 E05230 RAMOS, ARIEL ELIZABETH 05/01/2025 $33.14 00056078 E02754 REYNOSO, SUGEIRY 05/01/2025 $2,768.21 00056079 E05118 RODRIGUEZ, JOSHUA R 05/01/2025 $259.49 00056080 E03362 ROMERO, MARINA Y 05/01/2025 $1,824.72 00056081 E04684 ROSALES, MARIA D 05/01/2025 $86.49 00056082 E04614 ROSAS, TANYA 05/01/2025 $283.62 00056083 E01893 SAUCEDO, DANA MARIE 05/01/2025 $2,898.84 00056084 E04926 SERNA, SAMANTHA M 05/01/2025 $329.46 00056085 E04795 SIEVE, MYCHAELLA J 05/01/2025 $267.98 00056086 E05153 SODERSTROM, LOGAN K 05/01/2025 $47.80 00056087 E05151 SORIANO, KIMBERLY A 05/01/2025 $1,086.29 00056088 E05250 TEJEDA, ANDREA 05/01/2025 $250.96 00056089 E05030 TRIGGS, MARY SHANNON 05/01/2025 $662.15 00056090 E01396 VALDIVIA, CLAUDIA 05/01/2025 $2,974.22 00056091 E00015 VAN SICKLE, JEFFREY 05/01/2025 $2,758.87 00056092 E04687 VARGAS, SAMANTHA B 05/01/2025 $403.97 00056093 E05149 VAZQUEZ CHAVEZ, ELOISA ESMERAL 05/01/2025 $549.72 00056094 E05311 VILLALBA, RACHELL C 05/01/2025 $1,028.40 00056095 E05227 VILLEGAS, JOSEPH A 05/01/2025 $143.41 00056096 E05231 VOGEL, KATIE L 05/01/2025 $631.66 00056097 E04274 WILMES, DAVID M 05/01/2025 $814.77 00056098 E05070 XOOL VARGAS, RUDY G 05/01/2025 $95.60 00056099 E05076 XU, CHARLIE 05/01/2025 $429.53 00056100 E05226 ZUNIGA, MIA 05/01/2025 $414.27 Server Name: cognos.ggcity.org User Name: victoriac
219

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 8
Check Vendor # Vendor Name Issue Date Check Amount
00056101 E05175 AGUILAR, JENNIFER 05/01/2025 $597.51 00056102 E03819 ALAMILLO, MARCOS R 05/01/2025 $4,482.07 00056103 E03712 ALARCON, CLAUDIA 05/01/2025 $5,550.66 00056104 E03616 ALCARAZ, MARIA A 05/01/2025 $2,732.40 00056105 E04431 ALMEIDA, NICHOLAS 05/01/2025 $6,274.04 00056106 E04873 ALVARADO, MADELINE M 05/01/2025 $2,891.73 00056107 E04080 ALVAREZ BROWN, RICHARD A 05/01/2025 $0.00 00056108 E05028 AMAYA, JOSE J 05/01/2025 $4,501.89 00056109 E03011 ANDERSON, BOBBY B 05/01/2025 $3,959.21 00056110 E05206 ANGSAVOTAI-LIGAYA, AMY O 05/01/2025 $2,221.99 00056111 E05040 ARCHULETA, ANDREW M 05/01/2025 $2,197.46 00056112 E05251 ARELLANO JR, JORGE 05/01/2025 $2,146.35 00056113 E01234 ARELLANO, PEDRO R 05/01/2025 $4,412.98 00056114 E04875 ARROYO, SANDRA M 05/01/2025 $2,430.84 00056115 E04497 ASHBAUGH, TIMOTHY R 05/01/2025 $3,379.19 00056116 E03397 ASHBY, PAUL W 05/01/2025 $4,566.87 00056117 E04719 ATWOOD, MARIA S 05/01/2025 $2,600.87 00056118 E04613 AVALOS JR, FRANCISCO 05/01/2025 $3,133.58 00056119 E04033 AVALOS, KATHERINE MARIE 05/01/2025 $2,709.78 00056120 E04550 BAEK, SHARON S 05/01/2025 $3,085.06 00056121 E05062 BAEZ, JASMIN 05/01/2025 $2,070.18 00056122 E04778 BAKER, COLLIN E 05/01/2025 $4,358.70 00056123 E03005 BANKSON, JOHN F 05/01/2025 $5,678.59 00056124 E04645 BARRAZA, RENE 05/01/2025 $5,038.39 00056125 E05041 BARRIOS-ROA, JAYDE D. 05/01/2025 $0.00 00056126 E05253 BEDARD, CHRISTIE L 05/01/2025 $2,183.93 00056127 E04432 BEHZAD, JOSHUA K 05/01/2025 $2,557.11 00056128 E04951 BELLO, ANGELICA 05/01/2025 $2,041.54 00056129 E03006 BELTHIUS, LISA A 05/01/2025 $209.78 00056130 E04976 BELTHIUS, TYLER E 05/01/2025 $1,942.25 00056131 E04753 BERENGER, BEAU A 05/01/2025 $4,666.64 00056132 E03296 BERESFORD, EVAN S 05/01/2025 $3,966.24 00056133 E01604 BERLETH, RYAN S 05/01/2025 $2,618.66 00056134 E03443 BLUM, JAMES A 05/01/2025 $9,111.65 00056135 E03363 BOWEN, GENA M 05/01/2025 $2,265.69 Server Name: cognos.ggcity.org User Name: victoriac
220

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 9
Check Vendor # Vendor Name Issue Date Check Amount
00056136 E04767 BOWMAN, TROY F 05/01/2025 $4,061.68 00056137 E04963 BOYENS III, ROBERT 05/01/2025 $4,134.80 00056138 E00946 BRAME, KAREN D 05/01/2025 $2,278.72 00056139 E04803 BRANTNER, BRITTANEE N 05/01/2025 $1,760.62 00056140 E05083 BRITTON, CODY W 05/01/2025 $2,306.30 00056141 E03380 BROWN, JEFFREY A 05/01/2025 $6,842.53 00056142 E03968 BRUNICK, CARISSA L 05/01/2025 $2,716.85 00056143 E05074 BUJANONDA, CHANON 05/01/2025 $3,929.17 00056144 E02031 BURILLO, RICHARD O 05/01/2025 $5,575.87 00056145 E03972 BUSTILLOS, RYAN V 05/01/2025 $3,608.98 00056146 E05077 CAGLE, RONALD L 05/01/2025 $1,846.07 00056147 E05284 CAIZA NUNEZ, MERWIN D 05/01/2025 $4,038.96 00056148 E03964 CAMARA, DANIEL A 05/01/2025 $3,055.36 00056149 E04074 CAMPOS, JESENIA 05/01/2025 $2,653.23 00056150 E03739 CAPPS, THOMAS A 05/01/2025 $4,820.17 00056151 E05002 CARBALLO, MILTON A 05/01/2025 $0.00 00056152 E05301 CARRILLO, MIKE R 05/01/2025 $1,973.37 00056153 E05302 CASTILLO, JOSE A 05/01/2025 $1,948.55 00056154 E05266 CENDEJAS, MELISSA 05/01/2025 $1,709.59 00056155 E02372 CENTENO, JUAN C 05/01/2025 $4,407.29 00056156 E05252 CHACON JR, JOSE A 05/01/2025 $2,370.48 00056157 E03607 CHANG, DAVID Y H 05/01/2025 $6,058.31 00056158 E03481 CHAURAN HAIRGROVE, TAMMY L 05/01/2025 $2,576.76 00056159 E04498 CHEATHAM, JEROME L 05/01/2025 $3,598.87 00056160 E04414 CHUNG, RANDY G 05/01/2025 $401.06 00056161 E04666 CORTEZ, JULIO C 05/01/2025 $3,737.99 00056162 E04555 CRUZ, REYNA 05/01/2025 $2,332.50 00056163 E01364 DALTON, BRIAN D 05/01/2025 $4,466.68 00056164 E04874 DANG, JOHN 05/01/2025 $3,482.31 00056165 E05213 DAO, NHU T 05/01/2025 $1,858.09 00056166 E04503 DAVILA, ISAAC 05/01/2025 $3,612.79 00056167 E04731 DE PADUA, TANNER C 05/01/2025 $3,514.91 00056168 E03691 DELGADO JR, JUAN L 05/01/2025 $4,464.95 00056169 E03395 DIX, JENNIFER A 05/01/2025 $3,317.68 00056170 E05088 DOAN, THOMMY 05/01/2025 $4,158.38 Server Name: cognos.ggcity.org User Name: victoriac
221

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 10
Check Vendor # Vendor Name Issue Date Check Amount
00056171 E02313 DOSCHER, RONALD A 05/01/2025 $2,705.47 00056172 E04586 DOVEAS, CHRISTOPHER C 05/01/2025 $201.50 00056173 E04281 DRISCOLL, RUSSELL B 05/01/2025 $3,072.93 00056174 E04844 DUARTE, TAYLOR M 05/01/2025 $3,346.92 00056175 E04720 DUDLEY, BROC D 05/01/2025 $4,138.54 00056176 E03625 EARLE, CHRISTOPHER M 05/01/2025 $3,711.74 00056177 E03740 EL FARRA, AMIR A 05/01/2025 $5,301.81 00056178 E03927 ELHAMI, MICHAEL K 05/01/2025 $3,560.29 00056179 E03933 ELIZONDO, BENJAMIN M 05/01/2025 $3,588.93 00056180 E04016 ELIZONDO, FLOR DE LIS 05/01/2025 $2,485.99 00056181 E01598 ELSOUSOU, HELENA 05/01/2025 $2,689.82 00056182 E02708 ENRIQUEZ, JOHN G 05/01/2025 $1,080.85 00056183 E05174 ESCOBAR, MARIANA 05/01/2025 $191.20 00056184 E04334 ESCOBEDO, JOSHUA N 05/01/2025 $5,760.02 00056185 E05305 ESPINOZA, KAREEN G 05/01/2025 $1,956.16 00056186 E02724 ESTLOW, STEPHEN C 05/01/2025 $4,004.24 00056187 E04358 ESTRADA MONSANTO, MICHELLE N 05/01/2025 $4,939.32 00056188 E04748 FAJARDO, JESUS 05/01/2025 $3,441.20 00056189 E04303 FERREIRA JR, HECTOR 05/01/2025 $3,836.76 00056190 E01663 FERRIN, KORY C 05/01/2025 $6,533.29 00056191 E03976 FIGUEREDO, GEORGE R 05/01/2025 $4,896.36 00056192 E04774 FLINN, PATRICIA C 05/01/2025 $3,171.31 00056193 E05321 FLORES, ASHLEY R 05/01/2025 $47.80 00056194 E02887 FOSTER, VICTORIA M 05/01/2025 $1,543.41 00056195 E04747 FRESENIUS, ROBERT D 05/01/2025 $2,960.08 00056196 E00903 FRUTOS, VERONICA 05/01/2025 $2,404.28 00056197 E05205 GAMINO, ANGEL 05/01/2025 $414.27 00056198 E04729 GARCIA, JOSEPH A 05/01/2025 $3,402.07 00056199 E03086 GARCIA, PETE 05/01/2025 $4,494.20 00056200 E03659 GARNER, AMANDA B 05/01/2025 $2,129.12 00056201 E04351 GERDIN, MICHAEL E 05/01/2025 $3,449.25 00056202 E04542 GIFFORD, ROBERT J 05/01/2025 $3,547.56 00056203 E04401 GLEASON, SEAN M 05/01/2025 $3,144.67 00056204 E04917 GOMEZ, JESUS 05/01/2025 $2,524.15 00056205 E04863 GONZALEZ JR, GONZALO 05/01/2025 $2,963.05 Server Name: cognos.ggcity.org User Name: victoriac
222

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 11
Check Vendor # Vendor Name Issue Date Check Amount
00056206 E05003 HA, DANNY 05/01/2025 $4,338.43 00056207 E04732 HADDEN, TRAVIS J 05/01/2025 $3,505.03 00056208 E04787 HALEY, KYLE N 05/01/2025 $2,816.24 00056209 E03527 HALLER, TROY 05/01/2025 $5,070.20 00056210 E03402 HEINE, STEVEN H 05/01/2025 $6,155.01 00056211 E05157 HERNANDEZ CALLEROS, SAIRA 05/01/2025 $2,566.05 00056212 E04872 HERNANDEZ, KRISTINA L 05/01/2025 $2,213.60 00056213 E02469 HERRERA, JOSE D 05/01/2025 $4,375.94 00056214 E05265 HERRERA, MATTHEW P 05/01/2025 $673.23 00056215 E04244 HINGCO, PINKY C 05/01/2025 $3,233.58 00056216 E03713 HOLLOWAY, WILLIAM T 05/01/2025 $6,379.61 00056217 E04739 HOWARD, JASON A 05/01/2025 $3,473.36 00056218 E04654 HURLEY, KIRK P 05/01/2025 $4,028.65 00056219 E03815 HUYNH, AI KELLY 05/01/2025 $2,923.92 00056220 E03559 HUYNH, THI A 05/01/2025 $3,639.39 00056221 E04915 ITURRALDE, JENNIFER L 05/01/2025 $3,546.53 00056222 E04583 JENSEN, MICHAEL J 05/01/2025 $5,139.51 00056223 E02935 JENSEN, NICKOLAS K 05/01/2025 $4,279.35 00056224 E04587 JIMENEZ JR, EFRAIN A 05/01/2025 $4,391.17 00056225 E04781 JIMENEZ TAVAREZ, SERGIO J 05/01/2025 $3,823.05 00056226 E04655 JOHNSON, CODY M 05/01/2025 $3,001.73 00056227 E03368 JOHNSON, JASON L 05/01/2025 $3,481.79 00056228 E03831 JORDAN, GERALD F 05/01/2025 $4,340.02 00056229 E04610 JORDAN, VICTORIA A 05/01/2025 $635.61 00056230 E04559 KELLEY, KRISTOFER D 05/01/2025 $3,889.15 00056231 E04353 KEUILIAN, SHELBY 05/01/2025 $2,531.34 00056232 E04663 KIM, CHAD B 05/01/2025 $2,950.31 00056233 E05257 KIM, MARY HANBI 05/01/2025 $2,671.15 00056234 E04538 KIMBERLY, ALLYSON L 05/01/2025 $1,236.28 00056235 E05254 KIMMEY, ELIZABETH J 05/01/2025 $2,151.05 00056236 E03932 KIVLER, ROBERT J 05/01/2025 $3,948.99 00056237 E03389 KOLANO, JOSEPH L 05/01/2025 $3,049.91 00056238 E03294 KOVACS, LEA K 05/01/2025 $4,507.25 00056239 E05000 KOVACS, TIMOTHY M 05/01/2025 $4,524.71 00056240 E04669 KOVACS, TIMOTHY P 05/01/2025 $1,509.07 Server Name: cognos.ggcity.org User Name: victoriac
223

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 12
Check Vendor # Vendor Name Issue Date Check Amount
00056241 E03484 KUNKEL, PETER M 05/01/2025 $4,015.18 00056242 E04857 LANG, MICHAEL J 05/01/2025 $4,869.38 00056243 E03511 LAZENBY, NICHOLAS A 05/01/2025 $5,151.52 00056244 E04877 LE, BAO TINH THI 05/01/2025 $2,364.39 00056245 E04021 LEE, RAPHAEL M 05/01/2025 $3,926.39 00056246 E03488 LEYVA, ERICK 05/01/2025 $4,660.99 00056247 E04541 LINK, DEREK M 05/01/2025 $4,388.03 00056248 E00030 LOERA JR, RAFAEL 05/01/2025 $4,616.38 00056249 E05033 LOFFLER, CHARLES H 05/01/2025 $5,204.04 00056250 E02645 LOPEZ, DAVID 05/01/2025 $1,603.73 00056251 E05214 LOPEZ, KORINA Y 05/01/2025 $1,717.78 00056252 E05256 LOPEZ, VICTORIA A 05/01/2025 $1,948.73 00056253 E04581 LOWEN, BRADLEY A 05/01/2025 $3,380.39 00056254 E04761 LUCATERO, JESSE A 05/01/2025 $3,521.58 00056255 E00027 LUKAS, STEVEN W 05/01/2025 $2,515.04 00056256 E04048 LUX, ROBERT D 05/01/2025 $3,379.12 00056257 E03663 LUX, RYAN M 05/01/2025 $4,070.25 00056258 E04772 LY, LINDALINH THU 05/01/2025 $2,307.01 00056259 E04661 MACHUCA, ROBERTO 05/01/2025 $3,944.08 00056260 E04532 MANIACI, GIANLUCA F 05/01/2025 $4,135.08 00056261 E04435 MARCHAND, MATTHEW P 05/01/2025 $8,068.80 00056262 E05282 MARRUFO PUENTES, ANDRES 05/01/2025 $2,677.88 00056263 E01359 MARTINEZ JR, MARIO 05/01/2025 $5,146.86 00056264 E05140 MARTINEZ, ERICK 05/01/2025 $827.24 00056265 E04974 MARTINEZ, JUANITA PATRICIA 05/01/2025 $2,766.83 00056266 E02792 MATA, RAQUEL D 05/01/2025 $1,111.97 00056267 E04656 MAZON, JORGE L 05/01/2025 $2,759.92 00056268 E02796 MCFARLANE, MARIA C 05/01/2025 $2,914.60 00056269 E06761 MEEKS, REBECCA S 05/01/2025 $3,281.33 00056270 E03826 MEERS, BRYAN J 05/01/2025 $5,043.28 00056271 E02655 MENDOZA CAMPOS, MELISSA 05/01/2025 $2,609.79 00056272 E03965 MIHALIK, DANNY J 05/01/2025 $12,838.20 00056273 E04804 MONTECINOS, LAUREN MARIE 05/01/2025 $3,953.74 00056274 E04352 MORSE, JEREMY N 05/01/2025 $3,580.25 00056275 E01940 MORTON, NATHAN D 05/01/2025 $3,318.46 Server Name: cognos.ggcity.org User Name: victoriac
224

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 13
Check Vendor # Vendor Name Issue Date Check Amount
00056276 E04454 MOSER, MICHAEL A 05/01/2025 $2,023.19 00056277 E03929 MURILLO JR, RAUL 05/01/2025 $4,523.99 00056278 E04626 MURO, JASON M 05/01/2025 $4,623.21 00056279 E04577 MUSCHETTO, PATRICK J 05/01/2025 $2,352.13 00056280 E03422 NADOLSKI, THOMAS R 05/01/2025 $2,753.65 00056281 E05084 NAKANO HITZKE, SARAH V 05/01/2025 $2,574.40 00056282 E04111 NEELY, JACOB J 05/01/2025 $3,884.56 00056283 E05191 NGO, ALLISON B 05/01/2025 $1,862.33 00056284 E02813 NGUYEN, TRINA T 05/01/2025 $1,905.89 00056285 E04540 NIKOLIC, ADAM C 05/01/2025 $8,295.97 00056286 E05146 NIZ, IXA N 05/01/2025 $3,439.21 00056287 E05054 NUNEZ, BREANNE S 05/01/2025 $2,470.41 00056288 E03350 OLIVO, JOSHUA T 05/01/2025 $4,622.45 00056289 E04035 ORTIZ, STEVEN TRUJILLO 05/01/2025 $2,919.28 00056290 E03427 PANELLA, JOSEPH N 05/01/2025 $6,920.09 00056291 E04910 PAQUA, BRANDON J 05/01/2025 $2,551.97 00056292 E01948 PARK, BRANDY J 05/01/2025 $3,568.73 00056293 E02995 PAYAN, CRISTINA V 05/01/2025 $2,961.49 00056294 E00824 PAYAN, LUIS A 05/01/2025 $5,256.66 00056295 E05200 PAZ, JUAN 05/01/2025 $4,550.53 00056296 E04843 PEREZ, EMMANUEL 05/01/2025 $3,748.58 00056297 E00145 PERKINS, JASON S 05/01/2025 $5,808.38 00056298 E04429 PHAM, PHILLIP H 05/01/2025 $3,852.41 00056299 E05195 PINEDA, MARGO S 05/01/2025 $2,132.90 00056300 E06938 PLUARD, DOUGLAS A 05/01/2025 $6,106.51 00056301 E03299 POLOPEK, COREY T 05/01/2025 $3,182.91 00056302 E05173 PONCE, GALILEA 05/01/2025 $371.03 00056303 E05050 QUANG, DENNIS 05/01/2025 $2,920.14 00056304 E04788 QUIROZ, LUIS A 05/01/2025 $3,697.45 00056305 E05100 RAABE, MATTHEW A 05/01/2025 $2,076.62 00056306 E03967 RAMIREZ OROZCO, SINDY 05/01/2025 $4,204.43 00056307 E04955 RAMIREZ, KAYLYN C 05/01/2025 $1,266.94 00056308 E03390 RAMIREZ, LUIS F 05/01/2025 $3,886.01 00056309 E05021 RAMIREZ, TERRA M 05/01/2025 $3,795.45 00056310 E04914 RAMOS, RODOLFO B 05/01/2025 $1,946.02 Server Name: cognos.ggcity.org User Name: victoriac
225

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 14
Check Vendor # Vendor Name Issue Date Check Amount
00056311 E03217 RANEY, JOHN E 05/01/2025 $4,801.05 00056312 E04941 RASMUSSEN, TRENTON L 05/01/2025 $2,391.95 00056313 E04659 REED, THOMAS S 05/01/2025 $3,255.07 00056314 E03486 REYES, RON A 05/01/2025 $3,325.99 00056315 E04911 RICHARDS, BRYANT D 05/01/2025 $4,316.82 00056316 E04437 RICHMOND, RYAN R 05/01/2025 $3,550.50 00056317 E05229 ROBINSON, IVANA M 05/01/2025 $1,945.98 00056318 E04860 ROCHA, RUDY A 05/01/2025 $3,175.35 00056319 E05287 ROCHOW, BRITTANY A 05/01/2025 $2,023.71 00056320 E04738 RODRIGUEZ, DANIEL 05/01/2025 $4,178.82 00056321 E04082 RODRIGUEZ, JENNIFER M 05/01/2025 $3,189.26 00056322 E05001 RODRIGUEZ, RYAN ELIJAH 05/01/2025 $4,440.77 00056323 E04438 ROGERS, CHRISTIN E 05/01/2025 $3,915.38 00056324 E04385 ROJAS, ASHLEY C 05/01/2025 $3,179.24 00056325 E04507 ROMBOUGH, JENNIFER V 05/01/2025 $2,700.39 00056326 E04552 RUZIECKI, ERIC T 05/01/2025 $4,662.01 00056327 E02845 SALAZAR, SEAN M 05/01/2025 $3,616.85 00056328 E04845 SALGADO JR., ALFREDO 05/01/2025 $2,487.91 00056329 E03297 SAMOFF, TANYA L 05/01/2025 $3,411.23 00056330 E02646 SANTANA, LINO G 05/01/2025 $10,080.21 00056331 E05086 SEELY, BRITTANY L 05/01/2025 $1,286.11 00056332 E03035 SEYMOUR, SUSAN A I 05/01/2025 $2,800.91 00056333 E04282 SHELGREN, CHRISTOPHER M 05/01/2025 $3,339.55 00056334 E04616 SHIPLEY, AARON T 05/01/2025 $3,119.78 00056335 E02937 SHORROW, NICOLE D 05/01/2025 $3,996.49 00056336 E04864 SILVA, LEVI JOENIEL 05/01/2025 $3,374.12 00056337 E05203 SMITH, JAVON 05/01/2025 $4,053.24 00056338 E02587 SOSEBEE, DANNY J 05/01/2025 $3,702.04 00056339 E03563 SPELLMAN, MARSHA D 05/01/2025 $3,033.37 00056340 E04500 STAAL, GAREY D 05/01/2025 $4,425.29 00056341 E03218 STARNES, CHARLES W 05/01/2025 $5,390.43 00056342 E03761 STEPHENSON III, ROBERT M 05/01/2025 $4,933.27 00056343 E04584 STROUD, BRIAN T 05/01/2025 $5,816.03 00056344 E02979 TESSIER, PAUL M 05/01/2025 $3,705.68 00056345 E04449 TRAN, SPENCER T 05/01/2025 $2,732.35 Server Name: cognos.ggcity.org User Name: victoriac
226

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 15
Check Vendor # Vendor Name Issue Date Check Amount
00056346 E05145 VACCARO, CHRISTIAN L 05/01/2025 $573.03 00056347 E02982 VAICARO, VINCENTE J 05/01/2025 $5,469.43 00056348 E03053 VALENCIA, EDGAR 05/01/2025 $4,594.30 00056349 E04667 VAUGHN, CALEB I 05/01/2025 $2,312.41 00056350 E04434 VELLANOWETH, KIMBRA S 05/01/2025 $2,501.63 00056351 E04903 VIGIL, DANIEL C 05/01/2025 $2,670.49 00056352 E03022 VU, TUONG-VAN NGUYEN 05/01/2025 $2,817.40 00056353 E04730 VU, TYLER D 05/01/2025 $2,502.19 00056354 E01905 WAINWRIGHT, JONATHAN B 05/01/2025 $3,831.10 00056355 E03220 WARDLE, DENNIS 05/01/2025 $4,703.06 00056356 E03213 WARDLE, SANTA 05/01/2025 $3,054.29 00056357 E04758 WEYKER, CHRYSTAL L 05/01/2025 $2,050.81 00056358 E04006 WILLIAMS, RICHARD L 05/01/2025 $822.92 00056359 E03305 WIMMER, ROYCE C 05/01/2025 $4,941.52 00056360 E04762 WREN, DANIELLE E 05/01/2025 $3,070.51 00056361 E04856 XU, DUO 05/01/2025 $1,938.80 00056362 E03543 YELENSKY, SHANNON M 05/01/2025 $2,170.59 00056363 E04156 YERGLER, JOHN J 05/01/2025 $5,049.77 00056364 E04722 YNIGUEZ, COLE A 05/01/2025 $3,792.10 00056365 E09942 YOUNG, DAVID C 05/01/2025 $811.27 00056366 E01978 ZMIJA, ADAM D 05/01/2025 $5,324.80 00056367 E05308 AGEE, KAITLIN M 05/01/2025 $1,958.51 00056368 E05271 AGUILAR, KEVIN A 05/01/2025 $1,485.74 00056369 E04517 AGUIRRE, ALFRED J 05/01/2025 $3,600.04 00056370 E01626 AGUIRRE, ANSELMO 05/01/2025 $2,290.53 00056371 E04163 AMBRIZ GARCIA, EDWARD D 05/01/2025 $4,631.91 00056372 E05207 AN, TONY W 05/01/2025 $3,716.80 00056373 E04631 ANDREI, IOAN 05/01/2025 $1,379.96 00056374 E04678 BABINSKI IV, SYLVESTER A 05/01/2025 $2,348.83 00056375 E04336 BECERRA, RODOLPHO M 05/01/2025 $2,394.53 00056376 E04972 BECERRA-SAMANIEGO JR, GABRIEL 05/01/2025 $1,953.03 00056377 E05210 BERNAL, JASON 05/01/2025 $584.48 00056378 E01255 BOS, MICHAEL C 05/01/2025 $2,368.16 00056379 E05162 CAISEROS, CHRISTIAN 05/01/2025 $992.77 00056380 E01584 CANDELARIA, DANIEL J 05/01/2025 $4,641.47 Server Name: cognos.ggcity.org User Name: victoriac
227

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 16
Check Vendor # Vendor Name Issue Date Check Amount
00056381 E04300 CANO, EDGAR A 05/01/2025 $2,729.95 00056382 E05280 CANTARERO, LESLY P 05/01/2025 $3,005.63 00056383 E03828 CANTRELL, JEFFREY G 05/01/2025 $3,094.78 00056384 E05217 CARRILLO HERNANDEZ, ERWIN R 05/01/2025 $233.24 00056385 E03811 CARRISOZA, ALBERT J 05/01/2025 $2,230.44 00056386 E00916 CARTER, PHILLIP J 05/01/2025 $3,696.69 00056387 E05279 CASTILLO, JOSEPH A 05/01/2025 $595.23 00056388 E04869 CHAVEZ, DAMIAN JESUS 05/01/2025 $883.08 00056389 E04551 CONTRERAS, GABRIELA R 05/01/2025 $2,857.88 00056390 E03518 COTTON, JULIE T 05/01/2025 $1,910.13 00056391 E03807 DE LA ROSA, VINCENT L 05/01/2025 $3,442.11 00056392 E05170 DELGADO REYES, JORGE A 05/01/2025 $1,708.56 00056393 E03736 DIBAJ, KAMYAR 05/01/2025 $3,587.69 00056394 E05122 DORADO, ANTHONY 05/01/2025 $1,782.50 00056395 E04514 ESPINOZA, ERIC M 05/01/2025 $2,263.49 00056396 E03733 ESPINOZA, JULIA 05/01/2025 $1,513.97 00056397 E03405 FERNANDEZ, CECELIA A 05/01/2025 $1,382.40 00056398 E04990 FLORES, MITCHELL C 05/01/2025 $1,542.31 00056399 E05037 GAINES, JEFFREY S 05/01/2025 $1,044.57 00056400 E05010 GALVAN, EDGAR 05/01/2025 $1,111.40 00056401 E04754 GARCIA, ALICIA R 05/01/2025 $1,783.50 00056402 E04677 GIROUARD, CASEY G 05/01/2025 $465.49 00056403 E05156 GOMEZ HERNANDEZ, RICARDO 05/01/2025 $1,111.12 00056404 E04629 GOMEZ, DIANA 05/01/2025 $1,301.44 00056405 E03341 GONZALEZ, JORGE 05/01/2025 $1,984.68 00056406 E03400 GREENE, MICHAEL R 05/01/2025 $799.05 00056407 E03685 GUZMAN, JESSE 05/01/2025 $2,371.76 00056408 E04299 HANSEN, AARON R 05/01/2025 $2,284.08 00056409 E03523 HARO, GLORIA A 05/01/2025 $1,360.44 00056410 E03759 HERNANDEZ, HERMILO 05/01/2025 $45.11 00056411 E04622 HOFER, ALICIA M 05/01/2025 $2,452.35 00056412 E04347 HSIEH, NICOLAS C 05/01/2025 $3,646.71 00056413 E03588 HUYNH, HUY HOA 05/01/2025 $2,563.69 00056414 E04831 ILFELD, MATTHEW D 05/01/2025 $2,469.27 00056415 E01907 JACOT, ROSEMARIE 05/01/2025 $2,319.97 Server Name: cognos.ggcity.org User Name: victoriac
228

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 17
Check Vendor # Vendor Name Issue Date Check Amount
00056416 E05292 JIMENEZ, ROBERT G 05/01/2025 $1,046.54 00056417 E04296 JOHNSON, ERIC W 05/01/2025 $2,114.86 00056418 E04979 JURADO, MICHAEL 05/01/2025 $1,387.34 00056419 E04470 KAYLOR, BRENT 05/01/2025 $3,162.27 00056420 E04728 KHALIL, MARK M 05/01/2025 $2,544.21 00056421 E03534 KIM, SAMUEL K 05/01/2025 $6,154.34 00056422 E04382 KWIATKOWSKI, BRYAN D 05/01/2025 $2,176.35 00056423 E04769 LAMAS, LEONEL A 05/01/2025 $2,356.19 00056424 E03813 LEWIS, SHAN L 05/01/2025 $3,292.65 00056425 E03301 LEYVA, RAUL 05/01/2025 $4,722.59 00056426 E05065 LOMELI, JONATHAN 05/01/2025 $2,071.31 00056427 E05202 LONDONO, MARTIN A 05/01/2025 $2,921.96 00056428 E05155 LOPEZ, MOISES 05/01/2025 $1,162.43 00056429 E05198 MALDONADO, RICARDO 05/01/2025 $2,066.98 00056430 E05006 MARQUEZ, STEVEN ADAM 05/01/2025 $1,337.45 00056431 E05273 MARTINEZ, ANDRES 05/01/2025 $2,398.41 00056432 E04665 MEJIA, DIEGO A 05/01/2025 $2,324.63 00056433 E03493 MENDEZ, RIGOBERTO 05/01/2025 $3,192.92 00056434 E04998 MENDOZA, LAURA 05/01/2025 $1,166.27 00056435 E04724 MOORE, DOUGLAS A 05/01/2025 $3,044.68 00056436 E04827 MORELAND, ANDREW J 05/01/2025 $2,410.07 00056437 E04222 MOSS, DANIEL C 05/01/2025 $0.00 00056438 E01243 MURRAY JR, WILLIAM E 05/01/2025 $7,329.13 00056439 E04634 NAVARRO, JUAN C 05/01/2025 $3,517.97 00056440 E03923 ORNELAS, ANDREW I 05/01/2025 $3,604.99 00056441 E04969 ORNELLAS, MICHAEL 05/01/2025 $1,615.93 00056442 E05272 ORTIZ, JESSE 05/01/2025 $1,093.50 00056443 E03378 ORTIZ, STEVEN T 05/01/2025 $2,504.27 00056444 E04999 ORTUNO, ANIBAL 05/01/2025 $538.57 00056445 E05288 PADILLA, JOE L 05/01/2025 $1,360.00 00056446 E03754 PINKSTON, RICHARD L 05/01/2025 $2,547.20 00056447 E05112 POE, HEIDI L 05/01/2025 $3,129.40 00056448 E04567 POWELL, AUSTIN H 05/01/2025 $2,965.16 00056449 E03799 QUIROZ, ROLANDO 05/01/2025 $3,285.47 00056450 E05201 RAMIREZ, DANIEL A 05/01/2025 $1,364.41 Server Name: cognos.ggcity.org User Name: victoriac
229

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 18
Check Vendor # Vendor Name Issue Date Check Amount
00056451 E05258 RAMIREZ, GREGORY A 05/01/2025 $2,384.38 00056452 E04572 REED, MELVIN P 05/01/2025 $2,289.90 00056453 E02058 REYES, DELFRADO C 05/01/2025 $1,406.28 00056454 E04295 ROBLES, RAFAEL 05/01/2025 $2,303.27 00056455 E04563 RODRIGUEZ, ADRIANNA M 05/01/2025 $1,436.19 00056456 E05285 RODRIGUEZ, RUDY R 05/01/2025 $1,742.81 00056457 E05004 RUELAS, SERGIO 05/01/2025 $1,885.20 00056458 E04289 SALDIVAR, RICARDO 05/01/2025 $2,274.30 00056459 E05067 SANCHEZ, MARTIN 05/01/2025 $594.20 00056460 E05290 SERNA RODRIGUEZ, BRIZA 05/01/2025 $734.77 00056461 E05299 SOTO, JONATHAN 05/01/2025 $1,099.81 00056462 E04836 SOTO, WILLIAM A 05/01/2025 $2,636.80 00056463 E05089 STAIR, DEAN T 05/01/2025 $562.93 00056464 E03091 SUDDUTH, STEPHEN D 05/01/2025 $3,248.59 00056465 E01625 TAPIA, LUIS A 05/01/2025 $3,241.01 00056466 E03239 TAUANU U, STEVE J 05/01/2025 $2,244.00 00056467 E05154 TELLO, ALEJANDRO 05/01/2025 $945.02 00056468 E04773 THURMAN JR, EDWIN O 05/01/2025 $1,241.81 00056469 E04825 TRUJILLO, JOSEPH E 05/01/2025 $1,851.55 00056470 E02482 UPHUS, MARK P 05/01/2025 $5,685.17 00056471 E03681 VASQUEZ, JOSE A 05/01/2025 $3,456.26 00056472 E05134 VEGA, ERIC J 05/01/2025 $1,872.05 00056473 E03727 VERGARA NEAL, ANA G 05/01/2025 $4,191.57 00056474 E05093 VIRAMONTES, ALEXANDRA 05/01/2025 $3,176.60 00056475 E05275 XITAMUL, JASON A 05/01/2025 $1,781.97 00056476 E03436 ZIEGLER, RICK S 05/01/2025 $1,261.16 00056477 E03917 ALLEN, CHRISTOPHER L 05/01/2025 $1,938.35 00056478 E05098 BARNESE, VINCENZO A 05/01/2025 $3,013.55 00056479 E05307 BENSON, DANIEL J 05/01/2025 $1,496.35 00056480 E04063 BERGER, JAN 05/01/2025 $3,889.45 00056481 E00651 BERMUDEZ, ROBERT P 05/01/2025 $3,749.29 00056482 E03495 BLAS, VICTOR T 05/01/2025 $3,987.27 00056483 E00070 CANNON, TIM P 05/01/2025 $3,677.30 00056484 E04365 DAN, CARINA M 05/01/2025 $2,803.85 00056485 E04440 DAVIS, RYAN H 05/01/2025 $1,795.69 Server Name: cognos.ggcity.org User Name: victoriac
230

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 19
Check Vendor # Vendor Name Issue Date Check Amount
00056486 E03145 DE LA ROSA, FRANK X 05/01/2025 $0.00 00056487 E03051 DIEMERT, RONALD W 05/01/2025 $2,441.63 00056488 E02718 ESCOBAR, CHRIS N 05/01/2025 $3,076.65 00056489 E03688 GLENN, JEREMY J 05/01/2025 $1,817.39 00056490 E01618 GOMEZ, JOSE 05/01/2025 $2,321.36 00056491 E02701 GONZALEZ, ALEJANDRO 05/01/2025 $2,895.53 00056492 E03763 GRIFFIN, LARRY 05/01/2025 $2,564.43 00056493 E04828 GUERRERO, MICHAEL V 05/01/2025 $3,552.65 00056494 E04018 HAENDIGES, ROBERT A 05/01/2025 $2,715.62 00056495 E03575 HART, RYAN S 05/01/2025 $4,907.40 00056496 E03399 HOWENSTEIN, FRANK D 05/01/2025 $2,665.91 00056497 E03406 HUY, EDWARD A 05/01/2025 $4,214.98 00056498 E03446 JIMENEZ, VIDAL 05/01/2025 $3,313.05 00056499 E04782 JIN, LIYAN 05/01/2025 $3,249.42 00056500 E03254 KIRZHNER, ALLEN G 05/01/2025 $3,724.87 00056501 E05115 KOUTSOYANOPULOS, ALDOCHRIS V 05/01/2025 $1,848.44 00056502 E02852 LADNEY, MARK W 05/01/2025 $3,610.50 00056503 E03988 LI, REBECCA PIK KWAN 05/01/2025 $4,342.07 00056504 E02063 MA AE, DAVID 05/01/2025 $2,348.00 00056505 E05168 MACIAS, DANIEL 05/01/2025 $1,782.91 00056506 E03249 MANSON, RAQUEL K 05/01/2025 $3,137.63 00056507 E04837 MARTINEZ, ALFREDO 05/01/2025 $2,163.96 00056508 E02124 MEISLAHN, TYLER 05/01/2025 $2,183.74 00056509 E04403 MONTGOMERY, JESSE K 05/01/2025 $2,519.03 00056510 E03590 MOYA JR, STEVEN J 05/01/2025 $2,591.78 00056511 E03519 MURAD, BASIL G 05/01/2025 $3,565.98 00056512 E03144 NATLAND, KIRK L 05/01/2025 $1,535.21 00056513 E04291 NGUYEN, DUC TRUNG 05/01/2025 $3,232.23 00056514 E03221 NICOLAE, CORNELIU 05/01/2025 $3,641.56 00056515 E04210 NUNES, BRANDON S 05/01/2025 $2,237.81 00056516 E03582 ORTEGA, DAVID A 05/01/2025 $2,991.08 00056517 E04805 POLIDORI, JESSICA J 05/01/2025 $2,847.44 00056518 E02500 PORRAS, STEPHEN 05/01/2025 $4,376.21 00056519 E05031 RAMIREZ, AACIN 05/01/2025 $2,172.29 00056520 E07590 RUITENSCHILD, LES A 05/01/2025 $4,187.30 Server Name: cognos.ggcity.org User Name: victoriac
231

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 20
Check Vendor # Vendor Name Issue Date Check Amount
00056521 E03926 RUIZ, JONATHAN 05/01/2025 $3,093.80 00056522 E05165 SANCHEZ, ALLEN J 05/01/2025 $1,475.09 00056523 E07690 SANTOS, ALEXIS 05/01/2025 $2,204.97 00056524 E04956 SON, TOMMY T 05/01/2025 $2,445.46 00056525 E04301 TALAMANTES JR, ALBERT 05/01/2025 $2,638.41 00056526 E04121 TRAN, MINH K 05/01/2025 $2,340.66 00056527 E05136 VASQUEZ, PEDRO I 05/01/2025 $2,600.70 00056528 E01882 VIRAMONTES, JESSE 05/01/2025 $2,764.54 00056529 E04195 WOLLAND, RONALD J 05/01/2025 $2,083.68 00056530 E09940 YERGENSEN, VICTOR K 05/01/2025 $2,405.61 00056531 E05169 ZAMORA, JOEL D 05/01/2025 $2,258.14 00056532 E09954 ZAVALA, JOHN 05/01/2025 $3,705.23 00056533 E05212 AREGUINI, SARA 05/01/2025 $697.00 00056534 E05099 BECK, CRAIG A 05/01/2025 $2,728.19 00056535 E00740 BLODGETT, GREG 05/01/2025 $5,092.13 00056536 E01338 CARRENO, SHAUNA J 05/01/2025 $2,138.96 00056537 E03808 CHENG, ALANA R 05/01/2025 $3,024.54 00056538 E03353 COVARRUBIAS, MONICA 05/01/2025 $3,932.72 00056539 E04750 HO, VY D 05/01/2025 $2,196.63 00056540 E04968 HONG, SEUNGBUM 05/01/2025 $2,523.21 00056541 E02612 KLOESS, VILMA C 05/01/2025 $3,293.59 00056542 E01949 LE, IVY 05/01/2025 $2,131.44 00056543 E05092 LE, LINH D 05/01/2025 $2,304.48 00056544 E01280 LE, TAMMY 05/01/2025 $1,711.03 00056545 E03617 LEE, GRACE E 05/01/2025 $3,340.69 00056546 E05159 LUNA-REYNOSA, URSULA 05/01/2025 $7,213.00 00056547 E05289 MACIAS, KARINA 05/01/2025 $1,334.92 00056548 E05180 MEDINA, MELANIE 05/01/2025 $1,892.17 00056549 E02895 MOURE, SVETLANA 05/01/2025 $2,658.67 00056550 E05181 NGUYEN, DAVID 05/01/2025 $2,091.21 00056551 E03255 NGUYEN, PHUONG VIEN T 05/01/2025 $2,319.59 00056552 E02560 NGUYEN, QUANG 05/01/2025 $2,814.84 00056553 E01286 NGUYEN, TINA T 05/01/2025 $2,048.55 00056554 E03541 PHI, THYANA T 05/01/2025 $6,181.84 00056555 E05106 ROMERO, ALEX 05/01/2025 $2,116.81 Server Name: cognos.ggcity.org User Name: victoriac
232

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates May 1, 2025
Report Generated on Apr 29, 2025 5:21:55 PM Page 21
Check Vendor # Vendor Name Issue Date Check Amount
00056556 E05211 SURJONO, FRUMENTIUS C 05/01/2025 $709.04 00056557 E04408 THRONE, TIMOTHY E 05/01/2025 $2,609.75 00056558 E02543 TO, TANYA L 05/01/2025 $2,136.52 00056559 E01971 TRAN, CUONG K 05/01/2025 $2,502.54 00056560 E02056 TRUONG, ELAINE 05/01/2025 $1,873.97 00056561 E05293 TRUONG, MACKENZIE 05/01/2025 $1,526.94 00056562 E02562 VO, THANH-NGUYEN 05/01/2025 $2,141.41 00056563 E05104 YANG, DANA DAEUN 05/01/2025 $2,407.10 EFT - Total $1,773,133.18
Overall - Total $1,796,162.95
Server Name: cognos.ggcity.org User Name: victoriac
233

City of Garden Grove
Certificate of Warrants
Register Date:

Between Apr 8, 2025 and Apr 17, 2025
This is to certify the demands covered by EFT numbers 00055261 through 00055912 and check numbers 00186093 through 00186103 inclusive as listed on this register and have been verified by the Finance Division as properly issued and bear all proper signatures.

Note:

Finance Director
Patricia Song

FFFFFFFFFiFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF nance Director 234

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 2
PY - Payroll
Check Type: CHK
Check Vendor # Vendor Name Issue Date Check Amount
00186093 E05264 LAWRENZ, CHRISTIAN M 04/17/2025 $633.56 00186094 E05313 MOORE, JACOB D 04/17/2025 $2,368.25 00186095 E00977 BELAIR, DIANE 04/17/2025 $2,264.56 00186096 E05262 FLORES, JAVIER 04/17/2025 $2,439.63 00186097 E05309 VASQUEZ, JADE F 04/17/2025 $208.62 00186098 E04444 JULIENNE, PATRICK R 04/17/2025 $4,296.60 00186099 E05306 BISHOP, AIDAN M 04/17/2025 $1,238.09 00186100 E05314 ESCOBAR, JAVIER 04/17/2025 $1,175.72 00186101 E05312 GUTIERREZ, JOSE 04/17/2025 $1,179.84 00186102 E03529 ROCHA, MICHAEL F 04/17/2025 $2,436.51 00186103 E05300 PHAM, TRUC N 04/17/2025 $2,446.59 CHK - Total $20,687.97
Check Type: EFT
Check Vendor # Vendor Name Issue Date Check Amount
00055261 E04795 SIEVE, MYCHAELLA J 04/08/2025 $296.60 00055262 E05295 ARESTEGUI, ARIANA 04/17/2025 $676.40 00055263 E03982 BECKLES, CAROL E 04/17/2025 $49.27 00055264 E04755 BRIETIGAM III, GEORGE S 04/17/2025 $581.06 00055265 E03423 CHOWDHURY, JACINTA F 04/17/2025 $2,255.80 00055266 E05080 DOVINH, JOSEPH T 04/17/2025 $632.06 00055267 E04994 GREENUP, BREANNA C 04/17/2025 $626.00 00055268 E00803 GRIMM, PAMELA M 04/17/2025 $2,790.78 00055269 E04131 HERREN, NOELLE N 04/17/2025 $889.91 00055270 E05268 KIM, JUDY M 04/17/2025 $1,488.55 00055271 E04442 KIM, LISA L 04/17/2025 $9,381.86 00055272 E04536 KLOPFENSTEIN, STEPHANIE L 04/17/2025 $575.23 00055273 E05072 LOPEZ, CARLOS 04/17/2025 $1,098.65 00055274 E02787 MORAN, MARIE L 04/17/2025 $3,056.60 00055275 E05294 MUNETON, YESENIA P 04/17/2025 $688.81 00055276 E05297 NGUYEN, PHILLIP P 04/17/2025 $645.44 00055277 E05035 NGUYEN, TAN V 04/17/2025 $49.27 00055278 E04528 PARK, SHAWN S 04/17/2025 $2,943.82 Server Name: cognos.ggcity.org User Name: victoriac
235

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 3
Check Vendor # Vendor Name Issue Date Check Amount
00055279 E01964 PULIDO, ANA E 04/17/2025 $18,312.15 00055280 E05057 SATO, MICHI L 04/17/2025 $2,915.73 00055281 E05259 SERRATO RODRIGUEZ, DIANA 04/17/2025 $1,896.29 00055282 E03715 THAI, KRISTY H 04/17/2025 $1,793.01 00055283 E05079 TRAN, CINDY NGOC 04/17/2025 $688.78 00055284 E03983 VASQUEZ, LIZABETH C 04/17/2025 $3,077.84 00055285 E04971 VITAL, ANDREA 04/17/2025 $2,021.69 00055286 E05192 WEST, MATTHEW S 04/17/2025 $7,324.67 00055287 E04944 ANDERSON CAMBA, ASHLEIGH R 04/17/2025 $2,693.39 00055288 E04764 BRADLEY, JANNA K 04/17/2025 $2,801.43 00055289 E03766 CERDA, MARY C 04/17/2025 $2,343.37 00055290 E05316 CHHEN, SUSAN S 04/17/2025 $681.39 00055291 E04363 KWAN, LIANE Y 04/17/2025 $4,813.27 00055292 E01985 LEE, JANY H 04/17/2025 $5,360.08 00055293 E05078 SANCHEZ, GIOVANNI P 04/17/2025 $2,375.13 00055294 E04417 STEPHENSON, CAITLYN M 04/17/2025 $2,849.83 00055295 E05286 TRAN BELLEVILLE, LYDIA M 04/17/2025 $2,811.18 00055296 E04390 AMBRIZ, STEPHANIE 04/17/2025 $1,680.51 00055297 E04445 BROWN, KAREN J 04/17/2025 $1,041.78 00055298 E04961 CHAO, VICTORIA 04/17/2025 $2,112.99 00055299 E03686 CHAVEZ, JAIME F 04/17/2025 $1,709.56 00055300 E03760 CHUNG, JANET J 04/17/2025 $2,996.59 00055301 E05094 CORTEZ, ELIZABETH M. 04/17/2025 $2,360.16 00055302 E04960 FUKAZAWA, KEISUKE 04/17/2025 $2,396.44 00055303 E03877 GOMEZ, STEVEN E 04/17/2025 $1,924.34 00055304 E03429 GULLEY, SUSAN J 04/17/2025 $521.74 00055305 E04673 HART, BRANDI M 04/17/2025 $1,740.58 00055306 E03016 HERNANDEZ, GARY F 04/17/2025 $1,889.29 00055307 E04569 HOFFMAN, CORINNE L 04/17/2025 $2,528.94 00055308 E05304 LIVA, CHRISTOPHER T 04/17/2025 $2,207.63 00055309 E05167 LOFFLER, SARAH N 04/17/2025 $1,872.99 00055310 E00057 MANALANSAN, NEAL M 04/17/2025 $2,413.10 00055311 E01668 MAY, ROBERT W 04/17/2025 $1,737.05 00055312 E01393 MENDEZ, ANGELA M 04/17/2025 $2,278.04 00055313 E03628 MENDOZA, CHRISTI C 04/17/2025 $2,213.37 Server Name: cognos.ggcity.org User Name: victoriac
236

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 4
Check Vendor # Vendor Name Issue Date Check Amount
00055314 E05261 MENDOZA, MARELLA L F 04/17/2025 $1,946.56 00055315 E04958 NGO, TINA 04/17/2025 $2,907.52 00055316 E02429 PHAM, ANH 04/17/2025 $1,901.53 00055317 E05303 PHAN, NIKKIE N.Q. 04/17/2025 $2,252.29 00055318 E03610 RAMIREZ, EVA 04/17/2025 $2,317.25 00055319 E04973 RAMOS, NANCY 04/17/2025 $3,915.01 00055320 E05097 RODRIGUEZ, SEBASTIAN 04/17/2025 $2,353.79 00055321 E03539 SEGAWA, SANDRA E 04/17/2025 $4,531.76 00055322 E04780 SONG, YUAN 04/17/2025 $5,848.87 00055323 E03085 VICTORIA, PAUL E 04/17/2025 $1,631.66 00055324 E04859 VO, MY TRA 04/17/2025 $3,353.45 00055325 E05270 VO, NICOLE C 04/17/2025 $2,167.51 00055326 E03433 WESTON, RETA J 04/17/2025 $948.98 00055327 E04674 WHITTAKER DEGEN, HELEN E 04/17/2025 $685.22 00055328 E04527 YOO, MEENA 04/17/2025 $2,711.22 00055329 E04493 ANDREWS, STEVEN F 04/17/2025 $3,041.99 00055330 E00845 CHANG, TERENCE S 04/17/2025 $3,725.57 00055331 E05091 ENCISO, MARIA VERONICA M 04/17/2025 $2,500.60 00055332 E03498 ESPINOZA, VERNA L 04/17/2025 $2,464.97 00055333 E04523 GALLO, CESAR 04/17/2025 $4,452.82 00055334 E04415 GOLD, ANNA L 04/17/2025 $2,383.91 00055335 E04713 HINGCO, ERNIE E 04/17/2025 $2,364.21 00055336 E02617 KLOESS, GEOFFREY A 04/17/2025 $7,194.07 00055337 E05238 LE, JEFFREY D 04/17/2025 $1,433.49 00055338 E03571 MORAGRAAN, RACHOT 04/17/2025 $4,274.89 00055339 E05071 OCHOA, NICOLAS E 04/17/2025 $2,682.69 00055340 E01277 PROFFITT, NOEL J 04/17/2025 $3,880.82 00055341 E01901 RAO, ANAND V 04/17/2025 $5,986.52 00055342 E05073 SEYMOUR, DAVID M 04/17/2025 $2,094.22 00055343 E04395 SWANSON, MATTHEW T 04/17/2025 $1,939.90 00055344 E01674 VALENZUELA, ANTHONY 04/17/2025 $1,781.68 00055345 E00809 VICTORIA, ROD T 04/17/2025 $2,855.45 00055346 E03725 ABU HAMDIYYAH, AMEENAH 04/17/2025 $2,157.60 00055347 E05215 ANDUJO, ADRIAN S 04/17/2025 $2,176.03 00055348 E02996 ASHLEIGH, JULIE A 04/17/2025 $2,377.85 Server Name: cognos.ggcity.org User Name: victoriac
237

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 5
Check Vendor # Vendor Name Issue Date Check Amount
00055349 E05194 AVILA, RAFAEL B 04/17/2025 $3,206.50 00055350 E05208 BROWN, ANDRE P 04/17/2025 $2,531.52 00055351 E03601 CHUNG, CHRISTOPHER 04/17/2025 $3,532.26 00055352 E00128 CRAMER, RITA M 04/17/2025 $2,714.02 00055353 E04394 DAHLHEIMER, BRYSON T 04/17/2025 $0.00 00055354 E04879 DAKE, RYAN J 04/17/2025 $3,153.95 00055355 E04578 DENT, DAVID A 04/17/2025 $4,923.10 00055356 E05216 HERNANDEZ, ZACHARY L 04/17/2025 $2,439.56 00055357 E03410 HODSON, AARON J 04/17/2025 $2,310.64 00055358 E04716 KASKLA, PRIIT J 04/17/2025 $2,683.09 00055359 E04959 LE, KENNETH H 04/17/2025 $1,868.15 00055360 E04490 LY, HUONG Q 04/17/2025 $3,333.42 00055361 E04194 MARTINEZ, MARIA L 04/17/2025 $3,239.09 00055362 E05188 MERCADO RODRIGUEZ, MONICA 04/17/2025 $3,852.30 00055363 E04635 NGUYEN, PHU T 04/17/2025 $3,953.80 00055364 E02842 PARRA, MARIA C 04/17/2025 $4,083.67 00055365 E05249 PLASCENCIA, AMANDA C 04/17/2025 $2,220.49 00055366 E05172 QUENTAL, RYAN 04/17/2025 $2,339.52 00055367 E04992 ROBLES, ALFONSO 04/17/2025 $2,878.73 00055368 E05310 SEBBO, CAROL A 04/17/2025 $1,968.76 00055369 E04862 TRAN, JAKE P 04/17/2025 $2,287.86 00055370 E05209 TRAN, KAREN 04/17/2025 $844.07 00055371 E05048 TUONG, NGHIA T 04/17/2025 $2,469.51 00055372 E05053 VU, VINNY X 04/17/2025 $2,839.07 00055373 E05150 WETZEL, NIKI 04/17/2025 $4,236.85 00055374 E03643 ALVARADO, YOLANDA A 04/17/2025 $2,465.74 00055375 E05269 APODACA, ANGELA M 04/17/2025 $990.11 00055376 E04771 BAILOR, REBECCA J 04/17/2025 $973.32 00055377 E04988 BAUTISTA, BRENDA 04/17/2025 $397.54 00055378 E05125 BUI, RUBY 04/17/2025 $63.73 00055379 E02658 CAMARENA, RACHEL M 04/17/2025 $2,316.18 00055380 E01588 CAMARENA, RENE 04/17/2025 $2,793.49 00055381 E01902 CASILLAS, VICTORIA M 04/17/2025 $2,840.91 00055382 E05101 CASTANEDA, LILIANA 04/17/2025 $701.48 00055383 E05121 CASTRO PEREZ, ANDREA 04/17/2025 $350.54 Server Name: cognos.ggcity.org User Name: victoriac
238

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 6
Check Vendor # Vendor Name Issue Date Check Amount
00055384 E05058 CATAQUIZ, CHARLIZE N 04/17/2025 $679.37 00055385 E03304 CHUMACERO, DEANNA M 04/17/2025 $2,049.94 00055386 E05278 COLIN, ANGELICA 04/17/2025 $414.05 00055387 E04611 CROSS, AMANDA D 04/17/2025 $2,407.88 00055388 E04814 DE ROSAS, VICTOR 04/17/2025 $569.15 00055389 E05013 DINH, TIFFANY 04/17/2025 $624.97 00055390 E05222 DO, LOC T 04/17/2025 $441.13 00055391 E05228 DUONG, KYLA T 04/17/2025 $116.09 00055392 E05281 ENGLEBERT, BRIDGET L 04/17/2025 $477.56 00055393 E05158 FABIAN, SHARON J 04/17/2025 $446.14 00055394 E05015 FALETOI, TERRY U 04/17/2025 $565.48 00055395 E05127 FLORES, ERIKA 04/17/2025 $183.24 00055396 E02120 FRAUSTO, LUIZ F 04/17/2025 $537.41 00055397 E04679 FREEMAN, MARK C 04/17/2025 $4,322.67 00055398 E04481 GARCIA, JARED D 04/17/2025 $273.29 00055399 E05185 GARCIA, KATY 04/17/2025 $947.52 00055400 E05069 GARCIA, VERONICA 04/17/2025 $114.27 00055401 E05225 GONZALEZ, ETHAN Z 04/17/2025 $479.77 00055402 E00940 GRANT, JACOB R 04/17/2025 $2,204.16 00055403 E05276 GUIDRY, TARIQ A 04/17/2025 $526.27 00055404 E04967 HASHEMI, SETAREH 04/17/2025 $468.47 00055405 E05152 HERNANDEZ, CLARISSA 04/17/2025 $358.51 00055406 E05221 HUANG, WENDY Y 04/17/2025 $557.23 00055407 E05147 LE, WILSON D 04/17/2025 $438.18 00055408 E05032 LEE, JASON J 04/17/2025 $493.04 00055409 E03603 MA AE, ELAINE M 04/17/2025 $3,980.04 00055410 E05148 MAZARIEGOS, ALEXA X 04/17/2025 $678.90 00055411 E01552 MEDINA, JESUS 04/17/2025 $1,823.94 00055412 E00455 MEDINA, JUAN 04/17/2025 $2,568.69 00055413 E05186 MELVIN, ALEXIS 04/17/2025 $1,043.61 00055414 E02808 MONTANCHEZ, JOHN A 04/17/2025 $6,702.74 00055415 E05235 NAVA, AARON I 04/17/2025 $109.49 00055416 E04947 NGUYEN, ALEXANDER H 04/17/2025 $334.61 00055417 E05220 NGUYEN, JASON H 04/17/2025 $495.31 00055418 E05120 NGUYEN, VICKY 04/17/2025 $277.74 Server Name: cognos.ggcity.org User Name: victoriac
239

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 7
Check Vendor # Vendor Name Issue Date Check Amount
00055419 E04391 NICHOLAS, NOEL N 04/17/2025 $1,587.35 00055420 E04931 NODAL, NATALIE 04/17/2025 $644.61 00055421 E00785 OCADIZ HERNANDEZ, GABRIELA 04/17/2025 $3,246.98 00055422 E04965 ORDUNO, SAMANTHA 04/17/2025 $593.83 00055423 E05164 PARCELL, SAMANTHA M 04/17/2025 $823.04 00055424 E03361 PELAYO, JANET E 04/17/2025 $4,719.51 00055425 E04777 PHAN, EDOUARD T 04/17/2025 $265.51 00055426 E03893 PICKRELL, ARIELLE 04/17/2025 $1,110.94 00055427 E05116 PRADO, ALEXA 04/17/2025 $440.73 00055428 E05224 RAMIREZ, JOCELYN 04/17/2025 $270.88 00055429 E05230 RAMOS, ARIEL ELIZABETH 04/17/2025 $67.65 00055430 E02754 REYNOSO, SUGEIRY 04/17/2025 $2,768.21 00055431 E03362 ROMERO, MARINA Y 04/17/2025 $1,963.17 00055432 E04614 ROSAS, TANYA 04/17/2025 $223.07 00055433 E01893 SAUCEDO, DANA MARIE 04/17/2025 $2,721.58 00055434 E04926 SERNA, SAMANTHA M 04/17/2025 $372.41 00055435 E04795 SIEVE, MYCHAELLA J 04/17/2025 $215.10 00055436 E05151 SORIANO, KIMBERLY A 04/17/2025 $1,086.29 00055437 E05250 TEJEDA, ANDREA 04/17/2025 $334.61 00055438 E05030 TRIGGS, MARY SHANNON 04/17/2025 $473.62 00055439 E01396 VALDIVIA, CLAUDIA 04/17/2025 $2,974.22 00055440 E00015 VAN SICKLE, JEFFREY 04/17/2025 $2,758.88 00055441 E05243 VAN WINKLE, OLIVIA 04/17/2025 $39.84 00055442 E04687 VARGAS, SAMANTHA B 04/17/2025 $296.60 00055443 E05149 VAZQUEZ CHAVEZ, ELOISA ESMERAL 04/17/2025 $326.64 00055444 E05311 VILLALBA, RACHELL C 04/17/2025 $750.64 00055445 E05117 VILLALPANDO, MIA F 04/17/2025 $69.20 00055446 E05227 VILLEGAS, JOSEPH A 04/17/2025 $406.31 00055447 E05231 VOGEL, KATIE L 04/17/2025 $822.46 00055448 E04274 WILMES, DAVID M 04/17/2025 $651.92 00055449 E05070 XOOL VARGAS, RUDY G 04/17/2025 $127.47 00055450 E05076 XU, CHARLIE 04/17/2025 $471.64 00055451 E05175 AGUILAR, JENNIFER 04/17/2025 $541.74 00055452 E03819 ALAMILLO, MARCOS R 04/17/2025 $3,758.91 00055453 E03712 ALARCON, CLAUDIA 04/17/2025 $4,105.66 Server Name: cognos.ggcity.org User Name: victoriac
240

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 8
Check Vendor # Vendor Name Issue Date Check Amount
00055454 E03616 ALCARAZ, MARIA A 04/17/2025 $2,619.68 00055455 E04431 ALMEIDA, NICHOLAS 04/17/2025 $4,930.43 00055456 E04873 ALVARADO, MADELINE M 04/17/2025 $2,469.95 00055457 E04080 ALVAREZ BROWN, RICHARD A 04/17/2025 $0.00 00055458 E05028 AMAYA, JOSE J 04/17/2025 $4,009.63 00055459 E03011 ANDERSON, BOBBY B 04/17/2025 $4,532.04 00055460 E05206 ANGSAVOTAI-LIGAYA, AMY O 04/17/2025 $2,005.58 00055461 E05040 ARCHULETA, ANDREW M 04/17/2025 $2,197.46 00055462 E05251 ARELLANO JR, JORGE 04/17/2025 $2,444.93 00055463 E01234 ARELLANO, PEDRO R 04/17/2025 $4,412.98 00055464 E04875 ARROYO, SANDRA M 04/17/2025 $3,434.79 00055465 E04497 ASHBAUGH, TIMOTHY R 04/17/2025 $3,763.55 00055466 E03397 ASHBY, PAUL W 04/17/2025 $3,871.29 00055467 E04719 ATWOOD, MARIA S 04/17/2025 $2,252.48 00055468 E04613 AVALOS JR, FRANCISCO 04/17/2025 $3,133.58 00055469 E04033 AVALOS, KATHERINE MARIE 04/17/2025 $2,759.21 00055470 E04550 BAEK, SHARON S 04/17/2025 $2,464.07 00055471 E05062 BAEZ, JASMIN 04/17/2025 $2,253.03 00055472 E04778 BAKER, COLLIN E 04/17/2025 $3,082.10 00055473 E03005 BANKSON, JOHN F 04/17/2025 $4,761.86 00055474 E04645 BARRAZA, RENE 04/17/2025 $4,082.66 00055475 E05041 BARRIOS-ROA, JAYDE D. 04/17/2025 $0.00 00055476 E05253 BEDARD, CHRISTIE L 04/17/2025 $1,777.32 00055477 E04432 BEHZAD, JOSHUA K 04/17/2025 $3,494.50 00055478 E04951 BELLO, ANGELICA 04/17/2025 $2,006.46 00055479 E04976 BELTHIUS, TYLER E 04/17/2025 $1,942.25 00055480 E04753 BERENGER, BEAU A 04/17/2025 $3,942.50 00055481 E03296 BERESFORD, EVAN S 04/17/2025 $3,966.24 00055482 E01604 BERLETH, RYAN S 04/17/2025 $2,721.93 00055483 E03443 BLUM, JAMES A 04/17/2025 $2,301.84 00055484 E03363 BOWEN, GENA M 04/17/2025 $2,265.69 00055485 E04767 BOWMAN, TROY F 04/17/2025 $3,001.12 00055486 E04963 BOYENS III, ROBERT 04/17/2025 $3,369.58 00055487 E00946 BRAME, KAREN D 04/17/2025 $2,246.60 00055488 E04803 BRANTNER, BRITTANEE N 04/17/2025 $1,922.07 Server Name: cognos.ggcity.org User Name: victoriac
241

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 9
Check Vendor # Vendor Name Issue Date Check Amount
00055489 E05083 BRITTON, CODY W 04/17/2025 $2,306.30 00055490 E03380 BROWN, JEFFREY A 04/17/2025 $4,856.28 00055491 E03968 BRUNICK, CARISSA L 04/17/2025 $2,401.79 00055492 E05074 BUJANONDA, CHANON 04/17/2025 $3,778.31 00055493 E02031 BURILLO, RICHARD O 04/17/2025 $5,575.87 00055494 E03972 BUSTILLOS, RYAN V 04/17/2025 $3,691.71 00055495 E05077 CAGLE, RONALD L 04/17/2025 $1,846.07 00055496 E05284 CAIZA NUNEZ, MERWIN D 04/17/2025 $3,349.73 00055497 E03964 CAMARA, DANIEL A 04/17/2025 $3,055.36 00055498 E04074 CAMPOS, JESENIA 04/17/2025 $2,406.57 00055499 E03739 CAPPS, THOMAS A 04/17/2025 $4,055.99 00055500 E05002 CARBALLO, MILTON A 04/17/2025 $0.00 00055501 E05301 CARRILLO, MIKE R 04/17/2025 $1,973.37 00055502 E05302 CASTILLO, JOSE A 04/17/2025 $1,948.55 00055503 E05266 CENDEJAS, MELISSA 04/17/2025 $1,709.59 00055504 E02372 CENTENO, JUAN C 04/17/2025 $5,884.24 00055505 E05252 CHACON JR, JOSE A 04/17/2025 $2,924.99 00055506 E03607 CHANG, DAVID Y H 04/17/2025 $4,368.46 00055507 E03481 CHAURAN HAIRGROVE, TAMMY L 04/17/2025 $2,576.75 00055508 E04498 CHEATHAM, JEROME L 04/17/2025 $3,149.69 00055509 E04666 CORTEZ, JULIO C 04/17/2025 $3,349.95 00055510 E04555 CRUZ, REYNA 04/17/2025 $2,488.50 00055511 E01364 DALTON, BRIAN D 04/17/2025 $4,466.68 00055512 E04874 DANG, JOHN 04/17/2025 $3,983.72 00055513 E00126 DANIELEY III, CHARLIE H 04/17/2025 $1,941.93 00055514 E05213 DAO, NHU T 04/17/2025 $2,008.75 00055515 E04503 DAVILA, ISAAC 04/17/2025 $4,035.16 00055516 E04731 DE PADUA, TANNER C 04/17/2025 $3,443.08 00055517 E03691 DELGADO JR, JUAN L 04/17/2025 $4,464.95 00055518 E03395 DIX, JENNIFER A 04/17/2025 $3,722.89 00055519 E05088 DOAN, THOMMY 04/17/2025 $2,448.08 00055520 E02313 DOSCHER, RONALD A 04/17/2025 $2,705.47 00055521 E04586 DOVEAS, CHRISTOPHER C 04/17/2025 $98.63 00055522 E04281 DRISCOLL, RUSSELL B 04/17/2025 $2,483.62 00055523 E04844 DUARTE, TAYLOR M 04/17/2025 $2,643.87 Server Name: cognos.ggcity.org User Name: victoriac
242

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 10
Check Vendor # Vendor Name Issue Date Check Amount
00055524 E04720 DUDLEY, BROC D 04/17/2025 $3,609.97 00055525 E03625 EARLE, CHRISTOPHER M 04/17/2025 $4,344.09 00055526 E03740 EL FARRA, AMIR A 04/17/2025 $6,332.08 00055527 E03927 ELHAMI, MICHAEL K 04/17/2025 $3,465.44 00055528 E03933 ELIZONDO, BENJAMIN M 04/17/2025 $3,588.93 00055529 E04016 ELIZONDO, FLOR DE LIS 04/17/2025 $2,485.99 00055530 E01598 ELSOUSOU, HELENA 04/17/2025 $3,036.61 00055531 E02708 ENRIQUEZ, JOHN G 04/17/2025 $955.29 00055532 E05174 ESCOBAR, MARIANA 04/17/2025 $278.84 00055533 E04334 ESCOBEDO, JOSHUA N 04/17/2025 $4,657.56 00055534 E05305 ESPINOZA, KAREEN G 04/17/2025 $1,956.16 00055535 E02724 ESTLOW, STEPHEN C 04/17/2025 $4,145.50 00055536 E04358 ESTRADA MONSANTO, MICHELLE N 04/17/2025 $5,761.38 00055537 E04748 FAJARDO, JESUS 04/17/2025 $3,175.17 00055538 E04303 FERREIRA JR, HECTOR 04/17/2025 $3,087.27 00055539 E01663 FERRIN, KORY C 04/17/2025 $5,355.29 00055540 E03976 FIGUEREDO, GEORGE R 04/17/2025 $6,720.13 00055541 E04774 FLINN, PATRICIA C 04/17/2025 $3,171.31 00055542 E02887 FOSTER, VICTORIA M 04/17/2025 $1,988.92 00055543 E04747 FRESENIUS, ROBERT D 04/17/2025 $2,960.08 00055544 E00903 FRUTOS, VERONICA 04/17/2025 $2,225.46 00055545 E05205 GAMINO, ANGEL 04/17/2025 $382.41 00055546 E04729 GARCIA, JOSEPH A 04/17/2025 $2,810.90 00055547 E03086 GARCIA, PETE 04/17/2025 $4,494.20 00055548 E03659 GARNER, AMANDA B 04/17/2025 $2,129.12 00055549 E04351 GERDIN, MICHAEL E 04/17/2025 $3,612.15 00055550 E04542 GIFFORD, ROBERT J 04/17/2025 $3,896.84 00055551 E04401 GLEASON, SEAN M 04/17/2025 $3,144.67 00055552 E04917 GOMEZ, JESUS 04/17/2025 $2,688.75 00055553 E04863 GONZALEZ JR, GONZALO 04/17/2025 $4,359.28 00055554 E05003 HA, DANNY 04/17/2025 $3,585.04 00055555 E04732 HADDEN, TRAVIS J 04/17/2025 $2,924.27 00055556 E04787 HALEY, KYLE N 04/17/2025 $3,325.78 00055557 E03527 HALLER, TROY 04/17/2025 $4,917.42 00055558 E03402 HEINE, STEVEN H 04/17/2025 $6,568.48 Server Name: cognos.ggcity.org User Name: victoriac
243

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 11
Check Vendor # Vendor Name Issue Date Check Amount
00055559 E05157 HERNANDEZ CALLEROS, SAIRA 04/17/2025 $2,566.05 00055560 E04872 HERNANDEZ, KRISTINA L 04/17/2025 $2,003.31 00055561 E02469 HERRERA, JOSE D 04/17/2025 $4,375.94 00055562 E05265 HERRERA, MATTHEW P 04/17/2025 $541.74 00055563 E04244 HINGCO, PINKY C 04/17/2025 $3,233.58 00055564 E03713 HOLLOWAY, WILLIAM T 04/17/2025 $4,775.33 00055565 E04739 HOWARD, JASON A 04/17/2025 $3,685.27 00055566 E04654 HURLEY, KIRK P 04/17/2025 $3,077.66 00055567 E03815 HUYNH, AI KELLY 04/17/2025 $2,923.92 00055568 E03559 HUYNH, THI A 04/17/2025 $3,639.39 00055569 E04915 ITURRALDE, JENNIFER L 04/17/2025 $3,649.95 00055570 E04583 JENSEN, MICHAEL J 04/17/2025 $3,737.80 00055571 E02935 JENSEN, NICKOLAS K 04/17/2025 $4,697.55 00055572 E04587 JIMENEZ JR, EFRAIN A 04/17/2025 $3,760.57 00055573 E04781 JIMENEZ TAVAREZ, SERGIO J 04/17/2025 $3,639.49 00055574 E04655 JOHNSON, CODY M 04/17/2025 $3,001.73 00055575 E03368 JOHNSON, JASON L 04/17/2025 $3,481.79 00055576 E03831 JORDAN, GERALD F 04/17/2025 $3,044.53 00055577 E04610 JORDAN, VICTORIA A 04/17/2025 $5,453.64 00055578 E04559 KELLEY, KRISTOFER D 04/17/2025 $5,137.69 00055579 E04353 KEUILIAN, SHELBY 04/17/2025 $2,531.34 00055580 E04663 KIM, CHAD B 04/17/2025 $2,950.31 00055581 E05257 KIM, MARY HANBI 04/17/2025 $2,784.89 00055582 E04538 KIMBERLY, ALLYSON L 04/17/2025 $1,236.28 00055583 E05254 KIMMEY, ELIZABETH J 04/17/2025 $2,151.05 00055584 E03932 KIVLER, ROBERT J 04/17/2025 $3,353.24 00055585 E03389 KOLANO, JOSEPH L 04/17/2025 $4,200.24 00055586 E03294 KOVACS, LEA K 04/17/2025 $5,434.98 00055587 E05000 KOVACS, TIMOTHY M 04/17/2025 $4,088.97 00055588 E04669 KOVACS, TIMOTHY P 04/17/2025 $1,509.07 00055589 E03484 KUNKEL, PETER M 04/17/2025 $4,202.33 00055590 E04857 LANG, MICHAEL J 04/17/2025 $4,869.38 00055591 E03511 LAZENBY, NICHOLAS A 04/17/2025 $4,076.53 00055592 E04877 LE, BAO TINH THI 04/17/2025 $2,136.36 00055593 E04021 LEE, RAPHAEL M 04/17/2025 $3,623.64 Server Name: cognos.ggcity.org User Name: victoriac
244

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 12
Check Vendor # Vendor Name Issue Date Check Amount
00055594 E03488 LEYVA, ERICK 04/17/2025 $4,660.99 00055595 E04541 LINK, DEREK M 04/17/2025 $4,388.03 00055596 E00030 LOERA JR, RAFAEL 04/17/2025 $4,904.31 00055597 E05033 LOFFLER, CHARLES H 04/17/2025 $6,619.85 00055598 E02645 LOPEZ, DAVID 04/17/2025 $1,893.96 00055599 E05214 LOPEZ, KORINA Y 04/17/2025 $1,842.92 00055600 E05256 LOPEZ, VICTORIA A 04/17/2025 $1,690.06 00055601 E04581 LOWEN, BRADLEY A 04/17/2025 $3,380.39 00055602 E04761 LUCATERO, JESSE A 04/17/2025 $3,248.82 00055603 E00027 LUKAS, STEVEN W 04/17/2025 $2,515.04 00055604 E04048 LUX, ROBERT D 04/17/2025 $2,826.90 00055605 E03663 LUX, RYAN M 04/17/2025 $4,070.25 00055606 E04772 LY, LINDALINH THU 04/17/2025 $2,081.46 00055607 E04661 MACHUCA, ROBERTO 04/17/2025 $3,870.15 00055608 E04532 MANIACI, GIANLUCA F 04/17/2025 $4,010.97 00055609 E04435 MARCHAND, MATTHEW P 04/17/2025 $5,355.95 00055610 E05282 MARRUFO PUENTES, ANDRES 04/17/2025 $2,891.14 00055611 E01359 MARTINEZ JR, MARIO 04/17/2025 $5,146.86 00055612 E05140 MARTINEZ, ERICK 04/17/2025 $805.21 00055613 E04974 MARTINEZ, JUANITA PATRICIA 04/17/2025 $2,954.34 00055614 E02792 MATA, RAQUEL D 04/17/2025 $1,111.97 00055615 E04656 MAZON, JORGE L 04/17/2025 $3,146.69 00055616 E02796 MCFARLANE, MARIA C 04/17/2025 $2,934.33 00055617 E06761 MEEKS, REBECCA S 04/17/2025 $3,243.60 00055618 E03826 MEERS, BRYAN J 04/17/2025 $4,790.33 00055619 E02655 MENDOZA CAMPOS, MELISSA 04/17/2025 $3,614.34 00055620 E03965 MIHALIK, DANNY J 04/17/2025 $3,135.31 00055621 E04804 MONTECINOS, LAUREN MARIE 04/17/2025 $3,974.46 00055622 E04352 MORSE, JEREMY N 04/17/2025 $4,599.40 00055623 E01940 MORTON, NATHAN D 04/17/2025 $3,318.46 00055624 E04454 MOSER, MICHAEL A 04/17/2025 $2,713.92 00055625 E03929 MURILLO JR, RAUL 04/17/2025 $8,718.00 00055626 E04626 MURO, JASON M 04/17/2025 $4,281.92 00055627 E04577 MUSCHETTO, PATRICK J 04/17/2025 $2,352.13 00055628 E03422 NADOLSKI, THOMAS R 04/17/2025 $2,408.00 Server Name: cognos.ggcity.org User Name: victoriac
245

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 13
Check Vendor # Vendor Name Issue Date Check Amount
00055629 E05084 NAKANO HITZKE, SARAH V 04/17/2025 $2,798.34 00055630 E04111 NEELY, JACOB J 04/17/2025 $2,592.71 00055631 E05191 NGO, ALLISON B 04/17/2025 $1,862.33 00055632 E02813 NGUYEN, TRINA T 04/17/2025 $1,905.89 00055633 E04540 NIKOLIC, ADAM C 04/17/2025 $3,904.50 00055634 E05146 NIZ, IXA N 04/17/2025 $2,964.71 00055635 E05054 NUNEZ, BREANNE S 04/17/2025 $2,470.41 00055636 E03350 OLIVO, JOSHUA T 04/17/2025 $4,622.45 00055637 E04035 ORTIZ, STEVEN TRUJILLO 04/17/2025 $2,919.27 00055638 E03427 PANELLA, JOSEPH N 04/17/2025 $3,070.38 00055639 E04910 PAQUA, BRANDON J 04/17/2025 $2,551.98 00055640 E01948 PARK, BRANDY J 04/17/2025 $3,568.73 00055641 E02995 PAYAN, CRISTINA V 04/17/2025 $2,997.49 00055642 E00824 PAYAN, LUIS A 04/17/2025 $5,256.66 00055643 E05200 PAZ, JUAN 04/17/2025 $4,356.14 00055644 E04843 PEREZ, EMMANUEL 04/17/2025 $3,640.90 00055645 E00145 PERKINS, JASON S 04/17/2025 $5,218.19 00055646 E04429 PHAM, PHILLIP H 04/17/2025 $3,576.62 00055647 E05195 PINEDA, MARGO S 04/17/2025 $2,132.90 00055648 E06938 PLUARD, DOUGLAS A 04/17/2025 $6,106.51 00055649 E03299 POLOPEK, COREY T 04/17/2025 $3,182.91 00055650 E05173 PONCE, GALILEA 04/17/2025 $394.93 00055651 E05050 QUANG, DENNIS 04/17/2025 $2,920.14 00055652 E04788 QUIROZ, LUIS A 04/17/2025 $3,037.41 00055653 E05100 RAABE, MATTHEW A 04/17/2025 $1,739.15 00055654 E03967 RAMIREZ OROZCO, SINDY 04/17/2025 $3,460.25 00055655 E04955 RAMIREZ, KAYLYN C 04/17/2025 $1,022.25 00055656 E03390 RAMIREZ, LUIS F 04/17/2025 $3,886.01 00055657 E05021 RAMIREZ, TERRA M 04/17/2025 $3,795.45 00055658 E04914 RAMOS, RODOLFO B 04/17/2025 $2,083.34 00055659 E03217 RANEY, JOHN E 04/17/2025 $3,600.35 00055660 E04941 RASMUSSEN, TRENTON L 04/17/2025 $4,016.49 00055661 E04659 REED, THOMAS S 04/17/2025 $3,255.07 00055662 E03486 REYES, RON A 04/17/2025 $3,325.99 00055663 E04911 RICHARDS, BRYANT D 04/17/2025 $3,646.39 Server Name: cognos.ggcity.org User Name: victoriac
246

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 14
Check Vendor # Vendor Name Issue Date Check Amount
00055664 E04437 RICHMOND, RYAN R 04/17/2025 $4,377.86 00055665 E05229 ROBINSON, IVANA M 04/17/2025 $1,945.98 00055666 E04860 ROCHA, RUDY A 04/17/2025 $3,175.35 00055667 E05287 ROCHOW, BRITTANY A 04/17/2025 $1,629.08 00055668 E04738 RODRIGUEZ, DANIEL 04/17/2025 $3,573.39 00055669 E04082 RODRIGUEZ, JENNIFER M 04/17/2025 $2,651.73 00055670 E05001 RODRIGUEZ, RYAN ELIJAH 04/17/2025 $3,100.67 00055671 E04438 ROGERS, CHRISTIN E 04/17/2025 $3,282.87 00055672 E04385 ROJAS, ASHLEY C 04/17/2025 $2,685.48 00055673 E04507 ROMBOUGH, JENNIFER V 04/17/2025 $2,679.71 00055674 E04552 RUZIECKI, ERIC T 04/17/2025 $4,815.36 00055675 E02845 SALAZAR, SEAN M 04/17/2025 $3,616.85 00055676 E04845 SALGADO JR., ALFREDO 04/17/2025 $2,487.91 00055677 E03297 SAMOFF, TANYA L 04/17/2025 $4,041.85 00055678 E02646 SANTANA, LINO G 04/17/2025 $5,917.83 00055679 E05086 SEELY, BRITTANY L 04/17/2025 $1,286.11 00055680 E03035 SEYMOUR, SUSAN A I 04/17/2025 $2,800.91 00055681 E04282 SHELGREN, CHRISTOPHER M 04/17/2025 $3,581.72 00055682 E04616 SHIPLEY, AARON T 04/17/2025 $3,081.67 00055683 E02937 SHORROW, NICOLE D 04/17/2025 $3,336.79 00055684 E04864 SILVA, LEVI JOENIEL 04/17/2025 $2,549.67 00055685 E05203 SMITH, JAVON 04/17/2025 $4,663.81 00055686 E02587 SOSEBEE, DANNY J 04/17/2025 $2,661.37 00055687 E03563 SPELLMAN, MARSHA D 04/17/2025 $3,314.22 00055688 E04500 STAAL, GAREY D 04/17/2025 $3,991.84 00055689 E03218 STARNES, CHARLES W 04/17/2025 $4,032.12 00055690 E03761 STEPHENSON III, ROBERT M 04/17/2025 $4,933.27 00055691 E04584 STROUD, BRIAN T 04/17/2025 $4,330.30 00055692 E02979 TESSIER, PAUL M 04/17/2025 $4,557.70 00055693 E04449 TRAN, SPENCER T 04/17/2025 $2,732.35 00055694 E05145 VACCARO, CHRISTIAN L 04/17/2025 $541.74 00055695 E02982 VAICARO, VINCENTE J 04/17/2025 $6,564.22 00055696 E03053 VALENCIA, EDGAR 04/17/2025 $4,594.30 00055697 E04667 VAUGHN, CALEB I 04/17/2025 $2,426.16 00055698 E04434 VELLANOWETH, KIMBRA S 04/17/2025 $2,549.37 Server Name: cognos.ggcity.org User Name: victoriac
247

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 15
Check Vendor # Vendor Name Issue Date Check Amount
00055699 E04903 VIGIL, DANIEL C 04/17/2025 $2,670.49 00055700 E03022 VU, TUONG-VAN NGUYEN 04/17/2025 $2,573.48 00055701 E04730 VU, TYLER D 04/17/2025 $2,502.19 00055702 E01905 WAINWRIGHT, JONATHAN B 04/17/2025 $4,339.29 00055703 E03220 WARDLE, DENNIS 04/17/2025 $4,133.14 00055704 E03213 WARDLE, SANTA 04/17/2025 $2,926.10 00055705 E04758 WEYKER, CHRYSTAL L 04/17/2025 $2,390.90 00055706 E04006 WILLIAMS, RICHARD L 04/17/2025 $803.79 00055707 E03305 WIMMER, ROYCE C 04/17/2025 $4,941.52 00055708 E04762 WREN, DANIELLE E 04/17/2025 $3,070.51 00055709 E04856 XU, DUO 04/17/2025 $1,638.84 00055710 E03543 YELENSKY, SHANNON M 04/17/2025 $1,867.18 00055711 E04156 YERGLER, JOHN J 04/17/2025 $4,453.43 00055712 E04722 YNIGUEZ, COLE A 04/17/2025 $3,114.54 00055713 E09942 YOUNG, DAVID C 04/17/2025 $846.39 00055714 E01978 ZMIJA, ADAM D 04/17/2025 $5,324.80 00055715 E05308 AGEE, KAITLIN M 04/17/2025 $1,958.51 00055716 E05271 AGUILAR, KEVIN A 04/17/2025 $1,104.94 00055717 E04517 AGUIRRE, ALFRED J 04/17/2025 $3,556.80 00055718 E01626 AGUIRRE, ANSELMO 04/17/2025 $2,177.46 00055719 E04163 AMBRIZ GARCIA, EDWARD D 04/17/2025 $3,205.80 00055720 E05207 AN, TONY W 04/17/2025 $3,716.80 00055721 E04631 ANDREI, IOAN 04/17/2025 $1,379.96 00055722 E04678 BABINSKI IV, SYLVESTER A 04/17/2025 $2,528.84 00055723 E04336 BECERRA, RODOLPHO M 04/17/2025 $2,394.53 00055724 E04972 BECERRA-SAMANIEGO JR, GABRIEL 04/17/2025 $2,043.47 00055725 E05210 BERNAL, JASON 04/17/2025 $659.74 00055726 E01255 BOS, MICHAEL C 04/17/2025 $2,368.15 00055727 E05162 CAISEROS, CHRISTIAN 04/17/2025 $992.77 00055728 E01584 CANDELARIA, DANIEL J 04/17/2025 $4,641.47 00055729 E04300 CANO, EDGAR A 04/17/2025 $2,356.01 00055730 E05280 CANTARERO, LESLY P 04/17/2025 $3,005.63 00055731 E03828 CANTRELL, JEFFREY G 04/17/2025 $2,388.14 00055732 E05217 CARRILLO HERNANDEZ, ERWIN R 04/17/2025 $80.06 00055733 E03811 CARRISOZA, ALBERT J 04/17/2025 $2,380.44 Server Name: cognos.ggcity.org User Name: victoriac
248

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 16
Check Vendor # Vendor Name Issue Date Check Amount
00055734 E00916 CARTER, PHILLIP J 04/17/2025 $3,696.69 00055735 E05279 CASTILLO, JOSEPH A 04/17/2025 $578.45 00055736 E04869 CHAVEZ, DAMIAN JESUS 04/17/2025 $883.08 00055737 E04551 CONTRERAS, GABRIELA R 04/17/2025 $3,439.67 00055738 E03518 COTTON, JULIE T 04/17/2025 $1,910.13 00055739 E03807 DE LA ROSA, VINCENT L 04/17/2025 $3,442.11 00055740 E05170 DELGADO REYES, JORGE A 04/17/2025 $1,727.87 00055741 E03736 DIBAJ, KAMYAR 04/17/2025 $3,587.69 00055742 E05122 DORADO, ANTHONY 04/17/2025 $1,594.75 00055743 E04514 ESPINOZA, ERIC M 04/17/2025 $2,263.49 00055744 E03733 ESPINOZA, JULIA 04/17/2025 $1,455.47 00055745 E03405 FERNANDEZ, CECELIA A 04/17/2025 $1,382.40 00055746 E04990 FLORES, MITCHELL C 04/17/2025 $1,778.49 00055747 E05037 GAINES, JEFFREY S 04/17/2025 $1,044.57 00055748 E05010 GALVAN, EDGAR 04/17/2025 $1,111.40 00055749 E04754 GARCIA, ALICIA R 04/17/2025 $1,783.50 00055750 E04677 GIROUARD, CASEY G 04/17/2025 $374.56 00055751 E05156 GOMEZ HERNANDEZ, RICARDO 04/17/2025 $1,111.12 00055752 E04629 GOMEZ, DIANA 04/17/2025 $1,245.58 00055753 E03341 GONZALEZ, JORGE 04/17/2025 $1,984.68 00055754 E03400 GREENE, MICHAEL R 04/17/2025 $799.05 00055755 E03685 GUZMAN, JESSE 04/17/2025 $2,371.76 00055756 E04299 HANSEN, AARON R 04/17/2025 $2,284.08 00055757 E03523 HARO, GLORIA A 04/17/2025 $1,324.39 00055758 E03759 HERNANDEZ, HERMILO 04/17/2025 $45.11 00055759 E04622 HOFER, ALICIA M 04/17/2025 $2,452.35 00055760 E04347 HSIEH, NICOLAS C 04/17/2025 $3,646.71 00055761 E03588 HUYNH, HUY HOA 04/17/2025 $2,563.69 00055762 E04831 ILFELD, MATTHEW D 04/17/2025 $2,239.47 00055763 E01907 JACOT, ROSEMARIE 04/17/2025 $2,319.97 00055764 E05292 JIMENEZ, ROBERT G 04/17/2025 $949.45 00055765 E04296 JOHNSON, ERIC W 04/17/2025 $2,114.86 00055766 E04979 JURADO, MICHAEL 04/17/2025 $1,387.34 00055767 E04470 KAYLOR, BRENT 04/17/2025 $2,519.08 00055768 E04728 KHALIL, MARK M 04/17/2025 $2,544.21 Server Name: cognos.ggcity.org User Name: victoriac
249

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 17
Check Vendor # Vendor Name Issue Date Check Amount
00055769 E03534 KIM, SAMUEL K 04/17/2025 $4,809.21 00055770 E04382 KWIATKOWSKI, BRYAN D 04/17/2025 $2,463.06 00055771 E04769 LAMAS, LEONEL A 04/17/2025 $1,912.98 00055772 E03813 LEWIS, SHAN L 04/17/2025 $3,363.73 00055773 E03301 LEYVA, RAUL 04/17/2025 $4,741.22 00055774 E05065 LOMELI, JONATHAN 04/17/2025 $1,763.13 00055775 E05202 LONDONO, MARTIN A 04/17/2025 $2,985.75 00055776 E05155 LOPEZ, MOISES 04/17/2025 $1,162.43 00055777 E05198 MALDONADO, RICARDO 04/17/2025 $2,268.38 00055778 E05006 MARQUEZ, STEVEN ADAM 04/17/2025 $1,337.45 00055779 E05273 MARTINEZ, ANDRES 04/17/2025 $2,398.41 00055780 E04665 MEJIA, DIEGO A 04/17/2025 $2,324.63 00055781 E03493 MENDEZ, RIGOBERTO 04/17/2025 $2,514.30 00055782 E04998 MENDOZA, LAURA 04/17/2025 $1,166.27 00055783 E04724 MOORE, DOUGLAS A 04/17/2025 $2,792.05 00055784 E04827 MORELAND, ANDREW J 04/17/2025 $2,144.42 00055785 E04222 MOSS, DANIEL C 04/17/2025 $0.00 00055786 E01243 MURRAY JR, WILLIAM E 04/17/2025 $7,329.13 00055787 E04634 NAVARRO, JUAN C 04/17/2025 $3,927.14 00055788 E03923 ORNELAS, ANDREW I 04/17/2025 $2,927.47 00055789 E04969 ORNELLAS, MICHAEL 04/17/2025 $3,102.05 00055790 E05272 ORTIZ, JESSE 04/17/2025 $1,093.50 00055791 E03378 ORTIZ, STEVEN T 04/17/2025 $2,504.27 00055792 E04999 ORTUNO, ANIBAL 04/17/2025 $538.57 00055793 E05288 PADILLA, JOE L 04/17/2025 $1,360.00 00055794 E03754 PINKSTON, RICHARD L 04/17/2025 $2,547.20 00055795 E05112 POE, HEIDI L 04/17/2025 $3,129.40 00055796 E04567 POWELL, AUSTIN H 04/17/2025 $2,965.15 00055797 E03799 QUIROZ, ROLANDO 04/17/2025 $3,534.07 00055798 E05201 RAMIREZ, DANIEL A 04/17/2025 $1,364.42 00055799 E05258 RAMIREZ, GREGORY A 04/17/2025 $2,204.96 00055800 E04572 REED, MELVIN P 04/17/2025 $2,289.90 00055801 E02058 REYES, DELFRADO C 04/17/2025 $1,406.28 00055802 E04295 ROBLES, RAFAEL 04/17/2025 $2,365.97 00055803 E04563 RODRIGUEZ, ADRIANNA M 04/17/2025 $1,500.22 Server Name: cognos.ggcity.org User Name: victoriac
250

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 18
Check Vendor # Vendor Name Issue Date Check Amount
00055804 E05285 RODRIGUEZ, RUDY R 04/17/2025 $2,504.49 00055805 E05004 RUELAS, SERGIO 04/17/2025 $2,351.80 00055806 E04289 SALDIVAR, RICARDO 04/17/2025 $3,109.12 00055807 E05067 SANCHEZ, MARTIN 04/17/2025 $610.48 00055808 E05290 SERNA RODRIGUEZ, BRIZA 04/17/2025 $1,050.58 00055809 E05299 SOTO, JONATHAN 04/17/2025 $1,099.81 00055810 E04836 SOTO, WILLIAM A 04/17/2025 $2,514.20 00055811 E05089 STAIR, DEAN T 04/17/2025 $614.54 00055812 E03091 SUDDUTH, STEPHEN D 04/17/2025 $3,248.59 00055813 E01625 TAPIA, LUIS A 04/17/2025 $3,241.01 00055814 E03239 TAUANU U, STEVE J 04/17/2025 $2,244.00 00055815 E05154 TELLO, ALEJANDRO 04/17/2025 $927.04 00055816 E04773 THURMAN JR, EDWIN O 04/17/2025 $1,241.81 00055817 E04825 TRUJILLO, JOSEPH E 04/17/2025 $1,841.32 00055818 E02482 UPHUS, MARK P 04/17/2025 $4,813.89 00055819 E03681 VASQUEZ, JOSE A 04/17/2025 $3,790.97 00055820 E05134 VEGA, ERIC J 04/17/2025 $1,688.23 00055821 E03727 VERGARA NEAL, ANA G 04/17/2025 $4,014.41 00055822 E05093 VIRAMONTES, ALEXANDRA 04/17/2025 $3,176.60 00055823 E01580 VU, DAI C 04/17/2025 $33,388.01 00055824 E05275 XITAMUL, JASON A 04/17/2025 $1,870.78 00055825 E03436 ZIEGLER, RICK S 04/17/2025 $532.00 00055826 E03917 ALLEN, CHRISTOPHER L 04/17/2025 $1,938.35 00055827 E05098 BARNESE, VINCENZO A 04/17/2025 $2,541.84 00055828 E05307 BENSON, DANIEL J 04/17/2025 $1,542.00 00055829 E04063 BERGER, JAN 04/17/2025 $3,902.91 00055830 E00651 BERMUDEZ, ROBERT P 04/17/2025 $3,749.29 00055831 E03495 BLAS, VICTOR T 04/17/2025 $2,070.83 00055832 E00070 CANNON, TIM P 04/17/2025 $3,180.80 00055833 E04365 DAN, CARINA M 04/17/2025 $2,803.85 00055834 E04440 DAVIS, RYAN H 04/17/2025 $2,988.35 00055835 E03145 DE LA ROSA, FRANK X 04/17/2025 $1,451.34 00055836 E03051 DIEMERT, RONALD W 04/17/2025 $2,807.16 00055837 E02718 ESCOBAR, CHRIS N 04/17/2025 $4,218.36 00055838 E03688 GLENN, JEREMY J 04/17/2025 $680.16 Server Name: cognos.ggcity.org User Name: victoriac
251

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 19
Check Vendor # Vendor Name Issue Date Check Amount
00055839 E01618 GOMEZ, JOSE 04/17/2025 $3,054.27 00055840 E02701 GONZALEZ, ALEJANDRO 04/17/2025 $3,355.68 00055841 E03763 GRIFFIN, LARRY 04/17/2025 $1,911.01 00055842 E04828 GUERRERO, MICHAEL V 04/17/2025 $2,235.46 00055843 E04018 HAENDIGES, ROBERT A 04/17/2025 $2,351.65 00055844 E03575 HART, RYAN S 04/17/2025 $2,888.81 00055845 E03399 HOWENSTEIN, FRANK D 04/17/2025 $2,665.91 00055846 E03406 HUY, EDWARD A 04/17/2025 $2,629.66 00055847 E03446 JIMENEZ, VIDAL 04/17/2025 $2,484.27 00055848 E04782 JIN, LIYAN 04/17/2025 $3,249.42 00055849 E03254 KIRZHNER, ALLEN G 04/17/2025 $4,490.28 00055850 E05115 KOUTSOYANOPULOS, ALDOCHRIS V 04/17/2025 $2,210.01 00055851 E02852 LADNEY, MARK W 04/17/2025 $2,938.20 00055852 E03988 LI, REBECCA PIK KWAN 04/17/2025 $5,020.76 00055853 E02063 MA AE, DAVID 04/17/2025 $2,480.97 00055854 E05168 MACIAS, DANIEL 04/17/2025 $6,928.90 00055855 E03249 MANSON, RAQUEL K 04/17/2025 $3,137.63 00055856 E04837 MARTINEZ, ALFREDO 04/17/2025 $2,404.91 00055857 E02124 MEISLAHN, TYLER 04/17/2025 $2,193.53 00055858 E04403 MONTGOMERY, JESSE K 04/17/2025 $3,776.01 00055859 E03590 MOYA JR, STEVEN J 04/17/2025 $2,591.78 00055860 E03519 MURAD, BASIL G 04/17/2025 $3,702.39 00055861 E03144 NATLAND, KIRK L 04/17/2025 $1,788.95 00055862 E04291 NGUYEN, DUC TRUNG 04/17/2025 $2,180.46 00055863 E03221 NICOLAE, CORNELIU 04/17/2025 $3,655.86 00055864 E04210 NUNES, BRANDON S 04/17/2025 $2,193.93 00055865 E03582 ORTEGA, DAVID A 04/17/2025 $4,257.87 00055866 E04805 POLIDORI, JESSICA J 04/17/2025 $2,392.55 00055867 E02500 PORRAS, STEPHEN 04/17/2025 $3,598.92 00055868 E05031 RAMIREZ, AACIN 04/17/2025 $2,207.58 00055869 E07590 RUITENSCHILD, LES A 04/17/2025 $4,953.05 00055870 E03926 RUIZ, JONATHAN 04/17/2025 $2,933.00 00055871 E05165 SANCHEZ, ALLEN J 04/17/2025 $1,475.09 00055872 E07690 SANTOS, ALEXIS 04/17/2025 $2,204.97 00055873 E04956 SON, TOMMY T 04/17/2025 $2,329.90 Server Name: cognos.ggcity.org User Name: victoriac
252

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 20
Check Vendor # Vendor Name Issue Date Check Amount
00055874 E04301 TALAMANTES JR, ALBERT 04/17/2025 $2,638.41 00055875 E04121 TRAN, MINH K 04/17/2025 $3,284.83 00055876 E05136 VASQUEZ, PEDRO I 04/17/2025 $3,272.79 00055877 E01882 VIRAMONTES, JESSE 04/17/2025 $2,141.78 00055878 E04195 WOLLAND, RONALD J 04/17/2025 $2,418.17 00055879 E09940 YERGENSEN, VICTOR K 04/17/2025 $2,405.61 00055880 E05169 ZAMORA, JOEL D 04/17/2025 $2,743.65 00055881 E09954 ZAVALA, JOHN 04/17/2025 $4,860.37 00055882 E05212 AREGUINI, SARA 04/17/2025 $715.34 00055883 E05099 BECK, CRAIG A 04/17/2025 $2,326.38 00055884 E00740 BLODGETT, GREG 04/17/2025 $5,092.13 00055885 E01338 CARRENO, SHAUNA J 04/17/2025 $2,138.96 00055886 E03808 CHENG, ALANA R 04/17/2025 $3,175.72 00055887 E03353 COVARRUBIAS, MONICA 04/17/2025 $3,932.72 00055888 E04750 HO, VY D 04/17/2025 $2,196.63 00055889 E04968 HONG, SEUNGBUM 04/17/2025 $2,523.21 00055890 E02612 KLOESS, VILMA C 04/17/2025 $3,293.59 00055891 E01949 LE, IVY 04/17/2025 $2,131.44 00055892 E05092 LE, LINH D 04/17/2025 $2,304.48 00055893 E01280 LE, TAMMY 04/17/2025 $1,711.03 00055894 E03617 LEE, GRACE E 04/17/2025 $3,340.69 00055895 E05159 LUNA-REYNOSA, URSULA 04/17/2025 $7,213.00 00055896 E05289 MACIAS, KARINA 04/17/2025 $1,334.93 00055897 E05180 MEDINA, MELANIE 04/17/2025 $1,892.17 00055898 E02895 MOURE, SVETLANA 04/17/2025 $2,658.67 00055899 E05181 NGUYEN, DAVID 04/17/2025 $2,091.21 00055900 E03255 NGUYEN, PHUONG VIEN T 04/17/2025 $2,319.59 00055901 E02560 NGUYEN, QUANG 04/17/2025 $2,814.84 00055902 E01286 NGUYEN, TINA T 04/17/2025 $2,048.55 00055903 E03541 PHI, THYANA T 04/17/2025 $3,181.84 00055904 E05106 ROMERO, ALEX 04/17/2025 $2,116.81 00055905 E05211 SURJONO, FRUMENTIUS C 04/17/2025 $709.04 00055906 E04408 THRONE, TIMOTHY E 04/17/2025 $2,609.75 00055907 E02543 TO, TANYA L 04/17/2025 $2,136.52 00055908 E01971 TRAN, CUONG K 04/17/2025 $2,502.54 Server Name: cognos.ggcity.org User Name: victoriac
253

CITY OF GARDEN GROVE
GGFEFM002 Warrant Register Payroll
Check Dates Between Apr 8, 2025 and Apr 17, 2025
Report Generated on Apr 16, 2025 1:45:41 PM Page 21
Check Vendor # Vendor Name Issue Date Check Amount
00055909 E02056 TRUONG, ELAINE 04/17/2025 $1,873.97 00055910 E05293 TRUONG, MACKENZIE 04/17/2025 $1,526.95 00055911 E02562 VO, THANH-NGUYEN 04/17/2025 $2,141.41 00055912 E05104 YANG, DANA DAEUN 04/17/2025 $2,407.10 EFT - Total $1,760,673.10
Overall - Total $1,781,361.07
Server Name: cognos.ggcity.org User Name: victoriac
254
Item 166/2025
Final

City of Garden Grove

INTER-DEPARTMENT MEMORANDUM

To:

Lisa L. Kim From: Ursula Luna-Reynosa
Dept:

City Manager Dept: Economic Development and
Housing

Date: 5/13/2025

Subject: Adoption of a Resolution confirming the Garden Grove Tourism Improvement District Advisory Board Report and levying an assessment for Fiscal Year 2025- 2026. (Action Item)

OBJECTIVE

For the City Council to hold a public hearing and adopt the Resolution confirming the Garden Grove Tourism District Annual Report and levying the assessment for Fiscal Year 2025-26 for the Garden Grove Tourism Improvement District (GGTID).

BACKGROUND

The Garden Grove Tourism Improvement District (“GGTID ”) was established by the Garden Grove City Council in accordance with the Parking and Business Improvement Area Law of 1989, California Streets and Highways Code section 36500 et seq., (the “Law”) through the adoption of Resolution No. 9009-10 on August 24, 2010, and Ordinance No. 2782 on October 26, 2010. The purpose of the GGTID is to provide a funding source for the promotion of scenic, recreational, cultural, and other attractions within the GGTID, including advertisement and marketing, construction an d maintenance of improvements, and other services, activities, and programs that encourage tourism activities.

The GGTID includes the hotels along Harbor Boulevard from the boundary with the city of Anaheim to Garden Grove Boulevard. It is divided into two (2) separate benefit zones.

 Tier I includes the hotels north of Lampson Avenue, which are subject to an assessment of up to two and one -half percent (2.5%) of gross rent charged per room occupancy per night. There are currently nine (9) hotels in Tier I.  Tier II encompasses those hotels south of Lampson Avenue, which are subject to an assessment of up to one-half percent (0.5%) of gross rent charged per room occupancy per night. There is currently one (1) hotel in Tier II.

Pursuant to the Law and the O rdinance, the City Council is required to re -levy the GGTID assessment annually, based on the recommendations set forth in the annual report of the 255
Item 166/2025

Page 2 of 3 ends

Garden Grove City CouncilMay 13, 2025

Garden Grove City Council
May 13, 2025