<SEC-DOCUMENT>0001193125-12-415581.txt : 20121004
<SEC-HEADER>0001193125-12-415581.hdr.sgml : 20121004
<ACCEPTANCE-DATETIME>20121004172034
ACCESSION NUMBER:		0001193125-12-415581
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20121004
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121004
DATE AS OF CHANGE:		20121004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WATSCO INC
		CENTRAL INDEX KEY:			0000105016
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES [5070]
		IRS NUMBER:				590778222
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05581
		FILM NUMBER:		121130335

	BUSINESS ADDRESS:	
		STREET 1:		2665 S BAYSHORE DR
		STREET 2:		STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
		BUSINESS PHONE:		3058580828

	MAIL ADDRESS:	
		STREET 1:		2665 SOUTH BAYSHORE DR, STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d419912d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K
</B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange Act of
1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Date of Report (Date of earliest event reported) <U></U><U>October&nbsp;4, 2012</U> </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g419912logo.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>WATSCO, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Exact name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Florida
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(State or other jurisdiction </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>of incorporation) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1-5581</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>59-0778222</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Commission</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>File Number)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>2665 South Bayshore Drive, Suite 901 </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Miami, Florida 33133 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Address of principal executive offices, including zip code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>(305)
714-4100 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Registrant&#146;s telephone number, including area code) </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>N/A </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Former name or former address, if changed since last report) </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below): </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Item&nbsp;9.01</B>.<B></B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Financial Statements and Exhibits. </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Exhibits </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:28pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit<BR>Number</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;5.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Opinion of Greenberg Traurig, P.A.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">23.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Consent of Greenberg Traurig, P.A. (included in Exhibit&nbsp;5.1 hereto).</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:8%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>WATSCO, INC.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"> <P STYLE="text-indent:2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dated: October&nbsp;4, 2012</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Ana M. Menendez</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ana M. Menendez,</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">EXHIBIT INDEX </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1px solid #000000;width:28pt" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit<BR>Number</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;5.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Opinion of Greenberg Traurig, P.A.</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">23.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Consent of Greenberg Traurig, P.A. (included in Exhibit&nbsp;5.1 hereto).</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>d419912dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Exhibit 5.1 </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="right"><FONT
STYLE="font-family:Times New Roman" SIZE="2">October&nbsp;4, 2012 </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Watsco, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">2665 South Bayshore Drive </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Suite 901 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Coconut Grove, Florida 33133 </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Re:</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Registration Statement on Form S-3 (File No.&nbsp;333-163678)</U> </FONT></TD></TR></TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Ladies and Gentlemen: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We have acted as counsel to Watsco, Inc., a Florida
corporation (the &#147;<U>Company</U>&#148;), in connection with the Company&#146;s registration of 1,250,000 shares of the Company&#146;s common stock, par value $0.50 per share (the &#147;<U>Shares</U>&#148;), covered by the above-referenced
registration statement (the &#147;<U>Registration Statement</U>&#148;), filed by the Company with the U.S. Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) under the Securities Act of 1933, as amended (the &#147;<U>Securities
Act</U>&#148;), together with the Prospectus Supplement, dated October&nbsp;4, 2012 (the &#147;<U>Prospectus Supplement</U>&#148;), filed with the Commission pursuant to Rule 424(b)(7) under the Securities Act, relating to the sale of the Shares by
the selling shareholder named in the Prospectus Supplement. The Shares were issued pursuant to that certain Subscription Agreement, dated March&nbsp;13, 2012 (the &#147;<U>Subscription Agreement</U>&#148;), by and among the Company, UTC Canada
Corporation, a corporation existing under the laws of the Province of New Brunswick, Canada, and Carrier Corporation, a Delaware corporation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In connection with our representation of the Company and the preparation of this opinion letter, we have examined, considered and relied upon the following documents (collectively, the
&#147;<U>Documents</U>&#148;): </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. the Registration Statement and all amendments thereto, and the related form of prospectus
contained therein, in the form in which it was transmitted to the Commission; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. the Prospectus Supplement, in the form
transmitted to the Commission for filing on October&nbsp;4, 2012 pursuant to Rule&nbsp;424(b)(7) under the Securities Act; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.
the Subscription Agreement; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">4. the Company&#146;s Articles of Incorporation, as amended, as filed with the Department of
State of the State of Florida; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">5. the Company&#146;s Bylaws, as amended; </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">6. resolutions adopted by the Board of Directors of the Company in respect of the issuance of the Shares, certified as of the date hereof
by an officer of the Company; and </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Watsco, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">October 4, 2012 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 2 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">7. such other documents and matters of law as we have considered necessary or appropriate for the expression of the opinions contained herein. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">In rendering the opinions set forth below, we have assumed without investigation the following: </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. the genuineness of all signatures and the authenticity of all Documents submitted to us as originals, the conformity to authentic
original documents of all Documents submitted to us as copies and the veracity of the Documents; </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">2. each individual executing
any of the Documents, whether on behalf of such individual or another person, is legally competent to do so; and </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">3. each of
the parties (other than the Company) executing any of the Documents has duly and validly executed and delivered each of the Documents to which such party is a signatory, and the obligations of each party set forth therein are legal, valid and
binding obligations of such party and are enforceable against such party in accordance with all stated terms. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Additionally,
as to questions of fact in respect of the opinion hereinafter expressed, we have relied solely upon the Documents. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Based upon
the foregoing, and subject to the qualifications, assumptions and limitations set forth herein, we are of the opinion that the Shares have been duly authorized and validly issued and are fully paid and nonassessable. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This opinion letter is limited to the matters stated herein, and no opinions may be implied or inferred beyond the matters expressly
stated herein. The opinions expressed herein are as of the date hereof, and we assume no obligation to update or supplement such opinions to reflect any facts or circumstances that may hereafter come to our attention or any changes in law that may
hereafter occur. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We do not express any opinion herein concerning any law other than the laws of the State of Florida and the
federal laws of the United States. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">This opinion is being furnished to you for submission to the Commission as an exhibit to
the Company&#146;s Current Report on Form 8-K relating to the issuance of the Shares (the &#147;<U>Current Report</U>&#148;), which is incorporated by reference in the Registration Statement and, accordingly, may not be relied upon by, quoted in any
manner to or delivered to any other person or entity without, in each instance, our prior written consent. Notwithstanding the foregoing, investors are entitled to rely on the opinion. We hereby consent to the filing of this opinion as an exhibit to
the Current Report and such incorporation by reference into the Registration Statement, of which the Prospectus Supplement forms a part, and to the use of the name of our firm therein. In giving this consent, we do not admit that we are within the
category of persons whose consent is required by Section&nbsp;7 of the Securities Act. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Watsco, Inc. </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">October 4, 2012 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Page 3 </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="91%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sincerely,</FONT></TD></TR>
<TR>
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">GREENBERG TRAURIG, P.A.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Jaret L. Davis, Esq.</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Jaret L. Davis, Esq.</FONT></TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g419912logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g419912logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`)P"S`P$1``(1`0,1`?_$`+8```("`P$!`0``````
M``````D*``L%!P@&!`(!``("`P$!```````````````'!08!`P0""!````8"
M`0,#``<%!@<``````0(#!`4&!P@1`!()(1,*,4$B%!46%U%A@3(S<5(C)!@9
MD>%"8E,F&A$``0($!`(%!@H'!P4``````1$"``,$!2$Q$@9!46%Q@1,'D:'1
M(A05L<'A,D)RTB-S%O!28I)3D]."LD,T5"47HC-C)%7_V@`,`P$``A$#$0`_
M`'^.B")T01.B")T01.B")T01.B")T01.B")T00./RJ;\T[QO:994V1L!FK^W
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M-IHA64#=0&)P7XC\/`B.A_!)Y3I+R6ZQ2[K*\E`%V?PI/FK.9HN`CD8.*G8J
M:6>OJ#D6!A4CJILHFR1"1FRZ29C%;R+%<OV2F3`>7=M@F;>K^Y3[@DIBN77Z
M><=>V[U+OEO;.1)Y`)&"@\1@F1PR@UUAGXJL0\O9)Z4;0T!7XJ0G)V6?K)MF
M$5#Q+51_)R3U=0.Q%JQ9(G44,80*4A1$1]/6KND3YX$JG*37O:B9\D'7$QK&
ML@E&M:5A43QP?(9<[:>5#,FNU[EHB)UES"]>5O2-R>#9QLDC8:*=V0B-HF2%
M*^?.\UP+=>48)./1HLBDU+P=3[3`O>RZJVV"3=&M.MK09G2O/J)&45.T;HD7
M"[3;>JZ'$#]`.&1/-(;1(J0P"(*@(%$2FX,40`2_S>H<AZ=+S668/'K<HN!E
MN/K`^K"DGGR\\V7]'LU4G6#3*?HR>3*Q$'N>PEHM%597=M66M@:I*T7'T;%/
M'+5HE8WD8*DL]4`5CI-U&B?:4RI@Z9VR=FR;Y(F5]R!%&T88EOG'D[(I.Z=T
M&TO90T96M>X`9%.P@CRI&%RM\@#.?CVU/Q!5]N(:L9\\DN8J<KF"=Q97HJ-Q
MA0=<<?W1(KW%<3ED\09XM(S[F&1!RX8,U22*JBR@#[*)$CGT6_9/OJOJ)M&_
MNK5(FZ%)53BN)Y9+Q/#C'14[D%NH93:HZZZ;+U#`*>H`#//$!`1BN$"0<?*P
M\KLB91[%X4UR08.SBX8%882SC*-BM3C]@J#Y2XF!ZD3C@%0$0/R`_7U9Y?A[
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M+`ZA3<.#@+D\.-O2J.VNKBYOM<X'UACH!":>([>:F%MOR^50K)5.UA[ALP*.
M#@JC#IX@\$'-27Z1_(A\C>5;'K%IE@W2S"TK.2;3&^&*S:+.3-#>.;P5;@XZ
M%D<@V9^'X;$H1$)6(9Q+/3$5(0R:)BI"(B0!I5]V58J5U9=16!]5J+BT$*XE
MP7`-X+@F:)%DLVX;I/F2J`TW=4HEA'>KZH#<,WKBB%1@I/".H]J?EH5G$6<K
MYBK`.M!<[TR@33RGAE9]=G=;:7NQP)U(^QR=/JS&O2DH2JH3+1PDU6<*&6<I
M(BN``D<@CRT/AQ4S:+VVMF]TQV(4C#HRQ3CZ(Z:C>365PHZ67WCAF@/E50`H
MQ`^/".;5/F%9H/P5MH-"`H8`[15O=V6`?K$>$:80>.`_;U(-\.[46@FX-5.;
M>75'EV[+@ITTI1>1^U'M<1?*DW'V!RQCG".)?'U2Y3(65+G`46I,G]PR$V8#
M,V%\5FBYDWZ]::M645&I"=R\5.H0$VJ*A@'D``>2NV-::*G?/]M#PUI.8X=G
M;&^FO]VJY@8*?0U<2B]F9SRAMW:S;O#.D&`+%L/LO<6M1I-21BV<BK&,GDJ_
ML-KEA2:1E4IL*@162F)><E!%)JB`<@3E14Q$TU%"K>WT%7<J_P!BHP7N<?5Y
MIGPZ(MM94RZ*E%14$-`:I_3SD\!"?.3/F'WDMJ?DQ)IO4F%*`RA(<<K9'D5;
MB[234.4'T@TI[,L2Q*X*`&!!-1<4?4HJG'IK4/A4^;3";<*L2'D9'3\:PMJW
MQ$>R<Z7;J<SF#Z2.3J7#]/+&JG/S$-GCE.+'4K7XH@4PE%:WY(7`3!]`""!`
M$>?W<==,OPOMCY;I@N+$;TMX=D>/SU=9CFM92.:N?JD_"880TT\PMKG_`!X6
M7R/>1FHXZU:P_+6TT7A*,I/YQL5DR16RE_#8R390$P#B6DIJZVA%TVAF;9-/
MW6K4SE02HF!0%Y<+`E[9:+/,]H>YJDC@23AAT`'MB[T5V=[N=771IDAI.>&`
M`)/4,5/08"UD_P"8I+-[9(IXCTUC"49(02AGF5<G`RM<M[9S@I(.8NKQSB.C
MD7*8E,1N"ZRJ?KWF^KJ\4GA=,=*U7&H;)G?JJ`?(5BGUN_)LN>/8)1FTR8G2
MX^?`9^3IC5:WS'<YG*;[IJ!A<A@].]?)%P43*/\`W"1@GZ`'\.NG_C"AXUH\
MK?1'.=_W!,*5R_5*_#!9_'7\GK6G;:\U3"FQ%'>:O96NC^"KU*GUIO\`-V([
M[:YUR+)A!,K&@P;R%'?R;Y1)!H68(5NX55*0CD3"`#6-Q;`N%F9W\E_>2,\$
M5,^WR#MBRVO>5!<2)9!9.X@@@@\0A[<03TPSY[BG'U_3SSPG_>_I_P!3^;ZO
MV?OZH&K@F.7;FODBX:V9I]%8T9L_KCC7;7`>5-<\NQ02^/\`+53D:I.(DY*[
M8G=%*K&3L6J!BF;S%>E447K10!`2+H%$?3D!Z*"KJ;=7LKJ9R.853].<:Y\M
MM1(=(F`%I'$+%8_K5E[-O@:\J4K'7]%RNTQ/<WF)<\PJ1/NC+*&O]C>M7K6Z
M1C9('*9U5H`S*TP_8"RB3E`[;G_$6+U]!7*AI]\[7;64[F^V-EM)S)U)B,$X
MK">H)T[:^Z#1S''V6<]Q!R`4GFO5@G`\H8U^2YY8JQ$:^T32_6ZZLYF4VGQ_
M7\IY4NT`Z.9.-UTLB:4K4X)HX!,IF[S,)TO=6^VDHA"M%BF*`.R]+S8FW*F?
M>.]JVZ9=,X@@@YC/HPRZL8LN]=QRJ"D$BA]:KGC`@C#AEGR[4!A.7(>KVS>L
M.*]4=M+!6Y;'U.V$4D+_`*ZWEHLFG+-Y/'$ZS>0\N]1()#5Z27!)O,Q:*HIG
M>1G^*7@.2@WY5]M-^?4V1``Q&Z202XJ,NW'L3.%\VR7';[9-YG.4OQ<`$15P
M7'/+MBP1QIYY,427ASDO(9:48<<R45B3#]KQ.W=F2-,;8_<$F<)6&)DV8*D@
M;N91*PI*D2$$(117DPF0,/2'J-GU4O>/NE5IW%04.#<_,/5!YXPWJ7<%/^7A
M<R?5`R4+FF.:<R.N%C_!1H]>/*EY";MM]LX=[<L;8=R$7-^7YR3;IFCLI9_L
M$D6QTK'J@)G2*6)AUA),/6I2J)(Q[%HS$I2.>F7O>ZT^W;%)LMJ.B<]&N(.2
M8'SIU*(H^VK?-OMW??+@W[G'2TX^KB,_1GZT:OUQI,+Y+OD/2;/+Z"5NHMZV
MUS7?+1!3)Q!K.X\P+^8G%0IKQ%,P%5AB-*?&-3-N`(HU*<@AP8>ME:QU@\/F
MNDE)TQC27#(E,"5Y<8Q3L;>=ZS-8^XIL`#PU%<$Y^:+-J/BX^-:MF+&/CF#)
MB@DT8,V+)LT:,VB"94T&K-!!)--!NBD0"E(0`*4H``!QTAC.G36%QF/<'8YP
MV-,D$ADL-#,%($8:Z4.F9&JT]1[Y6("WTZTQ3J$L5:L,4TE(B9BGZ1T'K%^S
M=)J(KH+HJ<<"')1]0$!`!`ES:F5\Q\P=L:W2:69\]C">H16@ZHUR,TQ^1_3L
M.X:6=P%(H6^UPP%`-"JN79DL77<9JLJ5%RHZ67<O&;:&F46H**G.?AFDH(B8
MO=T_+O-?=_#UE35H9S)#-)XA&`C'LA34%/[JWPZGE./=S"7$#`8O3+J)\ICJ
M7Y@+1!MN[KZ9%(B'WG3YZJ<J"::0&42RI>@[SBF0ONG'O^D1$>N'PRFU#[)6
M27/5HF%.CU!'1OUK9=TI7-`QG2P<.9,.Z:U0[^:\?>`8F%[$IR9TUQ7%Q2Y2
MD34"4D\(P+)@<5>W[(E=KD'GI154[_?9H+G`,J7%2<$$PE4Z,X8\B4M""UC"
M]\@(@0_-YQ66>+;<ZM^+C=6=RYG?7V8S#*42IY/PQ-T@CV(A[C1+XI-L8^<F
M6`69JK$FED3PCN/>(K"B8&[LQTC<&$I_HBZVF?NW;<FFMD\2GM:%.>I.I$^3
MD84ELKI.W;W.==&:@]Y(.:8$(<U3H$,UE^7=K"0`4;>/W,7<4/01N6'41#D.
M.!$A3F*(@/T`'2]_XPOPP]J'_5]J+8[Q!VT"0057]1WV8WSK[\KW0_(MXC:S
MF/!.6-98:1D&C)GD.<2J-YJ<29T<&ZLG9EJ6/XW7HIF94@+.BM7!$DS"<_:0
MIA"/N/AON*GI)L]DXS&RV:B`'8IF,2>&,=E#O2SU=0R72`(7(OS<>2%H7L@9
MWRZ=BI.QYCU#P77YM&1QG7L+S^PZ81KQ-S$V2?OTZ]JM;F@50Y0>)1]6K;@6
M:W<<@%DC'*'KR-@\);6#3U-<\!M;++P"[%$;QZU/43C$)XC5LR<ZGH0OL\YS
M<1Q"J4XC(=<,?^&7QUZO:ZZ"Z\RT5B>BVC(F9L4T7+V5<AVZL0UFLUGMU]JD
M3//6Z<A,-'RL76X=-RFT8QS44FJ"*`&[14.<YEYN._7.MN\V5/G/T,>0`TEH
MP**@1>W+(81<;':Z&EH)?=2FJ6X$A4\N6&?$G$P68,+XA2(`IXJQHD8`]#$H
M=6+VAQP';Q$CQP'[NH'VNH"@3)FGZQ],2[J61J#F2Y8=]4>B$.?ETYHL".RF
MM&MS`Q8K%V*\!R>6X^KQI46,*ZNUUL\]52O1CVJ*+<AH:LT\K5IZ=J(/5A*!
M1.(]-OPMI)4N557EC-57+>0"<?H`CX86_B'.FN?2VX$^S3BT$#!/6./P>2&9
M_$?XJ=4=2M0\/N"XHH60,OY5QQ1<CY>RC=ZI#V>P3UML]8833J-A3SK61)6J
ME!#+F:LF#/VDP2)WJ>XJ8QQ7U^W'=;G=Y[I\UXTO(1I+1@4X9Q=[99Z*AH94
MB3+:98:"=0!51T\>F"HGU^P0=-1(^%,1G253.BJF?&U,,FHBH':HBH083M.D
MH7T,40$!#J&]MK/XLS]]WIB1]DI?X4O]T>B*]?Y._C[P/IIL/AG)VNM;;XWA
MMGX')$S:J%7"J,ZS7,CT.5@72]OIK4JHDKJ-A;VQ$RS!M[;=N\9`L@"8*"F5
MT>&5PK+Y33[;=GB<0UR'@`F&?1@>D0JMZV^19JB3<J$=VCVJWFKBO9RSS/0A
M>?\`=5S?^4OS3^)+]G_S._ZPO9^^*<?K]^MOZ-_FON]GG[Y[_P#C^Y^WTXX]
M>JG[BE=]W>"^^=']GNN\3JX1<?>;>[UH4]WZL^&O2GEXPX6)0$>1#D?[1X_X
M?1]?2YBV0H5\J'QT.<P8=K6_.+*\H^O^O;`*AG!A&M2B]L6#)&1,[8VI0$43
MJNG6+K$[%501[NV(D')C&`C?T97AON%UGN!HZIP]FG$HIP553R>6*+OFQBX6
MTUT@)5RL0@Q*8=>.'P\(54\27C_LWDPW5H>'94TT\PM364;>=A+01TY5+"8C
MJSA!M'TAC(.17!D[N[]-&%8-TA)]W8F<*HE`C<>&;O"_4NW[?,F4[6LJI^+1
MQ=@B@9EO3E"]VA;*O<%8RIKM9ETYTX@X$XJO/CFJI%C)Y-_';1=[-$KQJM%1
M<75YJO0$5,:]/FK-NVCZ%D#'\>(4%DRY3,5A7'[5N$,^(4`*$<Z4]!$I>$!9
M+O4T%TEW0N*ZU<IQ*G$GRK#HN=KI[I0NI"T`-9AY$P7XNCD(JKH3&V<[#DAE
MJS"5ZW&R?8,NQU!2PRL>1:)JYM1DG5%20D(/W!00FHE9RLT5?F;^\C'@L?DJ
M0"7KZ:GUMM-`=R_=EXE`ARA%3)80<BBKS7C;:S/9^]*@*4&:D>DYD!8MB?&;
MHU5/';IQB;6NO*-Y2>@F"EERC;$&Y4S7+*MH53D[O.F.0"BHS(_,#-@!@[B1
M[1`O`=O'7S%>KG-N]<^KF$H7$@<@J^4JJ1]#6N@D4%,V1+`!#`.T-`^**]RV
M6JV^&OSJ7'(%@K4U)1&(MD+O<@BCH$+(W[7G.(S+UQ(UE5RHS;OGZU/MR@M#
M%-[(2;$4%#@/>!7G2&3NS8C:"6YIJ&-#2`07`@8*,^F%#63)NVMU^T3`X2)Q
MU:C@U04Q.29C,<^!A\W&?FS\6F4*)7;]';GX?JC.?9BZ+7,C6%"AW2%7#@KF
M-L%6L(-9*.?M%>2&#M.D<0$R2BA.#"D9FUKY13#2"FGZEP(8XCL*`)UPU)-[
MMTZ3WK9LMS7#%'`_W28]B;S#^+E/N$^]^MH@3^80R/#&*''TCW$,8./X_0'6
M#MC<`"NIYX'U8P;Q;00-30[M]$(5P%[IF2/DLU7)F.++$W&A7GR@52T4^WPC
MT'4%8J]+34>="7B7J0$3>,'@JB*:@?9,4O)1,4>>G,^3.'AV93VG6V2&D9H0
MQ",.F%VZ;*G;[#I)#AHX?7!0\L/ECM'YA#-0^Z6LZI$E#`ZU$G6J0@0W8HLC
MEJR%]I,_\IE"E?!R`#R`"'/TAU'>%Q)M56T?.+S_`'!'KQ#1E72S78`399)Z
MB]?@AJ?33R7>/R*T[U48V'=#6NOS$5KEA2(FX.P9?I<'.0DS#X[KL1+1,Q!R
M4LVDXJ2C95FJBJBNF0Y#D'TX$.E3<;/=)EXJ0RGGJZ:XA&._6)PP2&'1UU#[
M')U3I:=VT8."Y=<<M['XG^-CM_DU[E[/=UT=NN3I5%LWF[:SV+9TF1G@9)&(
MV6L(4K(M:9R[XB)^/O3E-1RH``!E#`4H!,T-7O.V2^YHI=4U@R!EN*>5IC0^
M78G.[Y_=.)YNS\ASYQI`/'/\5U\4KI.0TP30(0`[4]T9Y$IPX[N]5)7-Q51-
MZ>GU#U(^_P#?B?-J%_!/V8Y33V(E0Z6.WY.R%E?/+KUXM,"Y2P-&>-:V4&4C
M+;1KBOFFH8PR8]RQ0X$T=)1K>F3_`.:W5BMQHRSSZ3F30<QP/1_RS-);V"]_
M<HSM@5>YKI(J)=WU-D*0KVZ,-..!`P'/BI'"%WOMEOIF2)MO<#4ZA\TJ3ZW(
M?"F&&.,8ORMXFR%8-$/"SM)9H^6>Q-QT@0U[G;&NDN=NVEJ!8G\W0VLBJ8%F
MS-6?HTPN9F<YRB[*S'CT(/$5LNLE4]WN5G#V:G.):A&*Z=2<\BJ*D;]U4]0V
MW45S*EDO27+F`KAT'!6KRS2&X_#5YD-*\LZ2X1QEDO.6.,$YKP)C"FXIR)2L
MN6J%QZ@]<4V'2KL7::7+VAY%1=K@;%%Q23K_`"BIUFBBID5B$$H"98[KVQ<)
M%[F3)4N8^2]Y<"UI.>)!("8%>R+W:=PVQU%+^^DX-"^NW#DN.?`@P60?(QH"
MGR!]W]30`OH(&V!Q6(\!Z>O_`+4'/4+[EO/^DJD_"?\`9B<]XT#L1/DH?VV^
MF$3?E073"F<=M\"9@P=G'%&9ZS8=<)G&\Z?%U^JMZ_*UAIEXFY4OXQ^69>1-
M'?BT9>TC-17`I51;*]G=V#PX_#`5=!25-%629LILUY*O8YOT`,-0$+#Q#KY`
MFTCZ=S)DQCVNP(.`<N*+AAT9PU'XA/+AI_LQJ%A*LS6<Z#C7-6(,847&V5\;
MY2MM>HU@3L51J\?`C/UX;"\C&MOK,\E&_>D'L:=8A.\4UP25*)`6=_V[<)%V
MJ)LF1.?+?,)!:QS@5*\!S,7^TWNWU5$P=[*$S2`A>U<,\%X#/E!6'>W&J;-,
MSAWL]KRS;($.JNLYS1C=!,B:9>\YE%%;(4A$R$'D3"(<!U"^Z;K_`*6H_EO]
M$2?ME)_%E_O#TP@7\G'?K"VZ&R.#,+ZTS;#+<;KI"W&)E+_3E_QV`NF3,KO*
MR"%)H+V,*Y9VDD4U@&:8O6AE4%Y!X9NGW>R)C.+PUME18Z&HN=>U\DZ2FL%F
M"?M`<X6.\ZR7=[C)M5(6S'%S5T>L0A*X`F#7_P"TAG'\M_ES\(6]K_YOO]!/
M?VM>/]0_ZK?JK^7NWGC[U]]^QW_TN[[7[NJ?^89??=ZK5][=YG]'NN[U=28K
MEPBV>YAW7=X_Y+1E_P"37IZ^C/C#9O2]BU1XG(;>E.Z%=VF2AKQ,<.JI9&V0
M#VQTS954M(7B'J=L-97L@LW8,X`(,R_WQ5=1-)-OWF.8I0$0\R'5`<TRP>^[
MPISS]7Y(\D2R7"=_V]'F2!4>'G5WQU:IXHS!0]!M@<6[',[!DIQ=<FWFE95Q
MME:?AFTZDX/C6B6*4QU+2*$=7Z?44Q:0A'?8LX1*JX$5#J*&ZGKY4WRIG2S>
MF36%K$EZVEOJ\44`D98]41UKEV^7*=[O+3++BJ%0JGI*8JO2O5!BC?R^G'U<
M?L^D./X=015"F:&)(JF&<`EK&IGBW8>8VS[:Q6Q^O;S=&:JKN@HZO-\K8O7N
M4)FM*)7+<,K-,>$MBEW+E"1Q>DDR=M0C2&;M"+/1X.NH<)R16;D=MP4\^7-%
MLU?.TNT9_K(F/7T1!2I-H;>YDV2YAN.G$*-73AFBKVP=D@`*1``0X["``E$>
M..`X[1`0'C]G4*<XG0J!<T@1?D^P-XBM@6E4I7D<O>L^.KPI!2AL5VW)F;Z+
M@[+T1%+.#D?/:%/3EJKDU)0R#[D5&YR/8SWP$3HB;GJ7LT^]R)^NT-FN"XAC
M7.QX+I!X1#7FFM=1*2Y/E,"8%SFC#^T4./GR(A;B3\&7Q]5W8J,?-'7XQ$3`
M(-E-P])7XD#L$"%*N]A>\>"C]8#Z=,YN[/$65)$OW94O:F9D3?0(I`LFR'`_
M^Y(7HF-`SZ'?''TP/A`^/3"3,/+6#S*4JUP<3+1TK*UJ:W`TC9P=ABXYX@]E
M(&9=1D4QDT8N98MSMG!VSANL1!4XD4*(@(>*S>'B%,IR'6JH&'\"8/A`$=5-
M8MH,KY;I-5),Y0@$T$KP1)F:Y89IQCN6.\6?B*<^3*G;3U;R<X_99I2V"Q[E
M#'VJ];SIJ^,06SQT?!FH6,ZS4VQUL@.H9Y&M&@1S%N8SI5H<H)=P'`PP)ON[
MG6=U-,HZ@49!#W=V]-7TB2&H"JDH0`5X1,2[?MIMP#Z*=)%<!@&O#BBKS7H4
MKAS,$M\Q&JGC0VVHF/L?[\[!8LUINS%6Q2V",I67,N,L09*B@(,,6ZMJ:7),
MBA&W"L/"%9$F&2K1X@3E`X"@M[:@5_;-QW)05A?8Y$Z=(^D&L<\:NG2"A3Y<
MA'9?J&RU-,EZG2V-3Z3FMXX(O3EQY<86R/X*O!P*K@$?.=BM-P;D%#*9^TQ5
M$BI?4#."C8"*&Y,'V@Y*(_1R'3(E[TW^UKY9L\T@\>XF+V$!?-%..W]C/8&F
MM9K^B3.`;\(!PZ1\485?P0>%TR)2M_/1@U!<#"8RJV7=.7*1@$>0**/Z@(J!
MP'I_4ZQ^<=^__)G?R)OV8S^6=F%RFNI_YX_JQB%/`UX<N\HH>?778H>T8I@<
M9)U"6.)S"(D.429=;@4I0Y].T?3Z^LC>^\A@;'/)_#F^B`[8VHGJW"F`_%']
M7JC+U7P1^&5C/0SZZ^>#7JU4EC)MG-AK$+EG4^GO)^*0726?1`6DF7IT8?\`
M$&Y!1.Y3:G63(<13[3@4P:ZC>.^*BE>R5:*B2P@@D2IIP_=0>41LIMN[0D5#
M73*ZG>]<!WK<^&;S#=&R&*O&Q=]#83%6PEDUZ@M#Y*G8[K./[):\IU*G8KC8
MIM&L6>(I?'N5)"R1\*C+H(((+03]K('4<GX$@K%4.!E31U5[D7(55IEO?>`\
MG0&JXD_/&E%R7@HX(8O]1)MQI.[JG2_8PTXN<-*`',JAP55SQ6%*;-X)_".Y
MDG"];\ZF(8&&.Z54B8NT9UTZM;MFCP`"V/+H7"L"_,F<!Y."*1S?]?<;DPL^
M7N[?<NGTU-KFO:G&3,'Q)YX7?N/9<[O--9)82<=,P!/(\QYE3P/^'$WM\>?+
M6\ABCR(_J)J(/<'[.TV8>0#C^WK:-X[R0)9IZ?AS?1&&[5VDF%QDD?C-_JQ^
M?]AOQ$G]S\.\_6MZ1!`!,!;UJ4L(#Z\=QD<UMP$G'U"'[?7KTW>N\&8.LDYQ
M_#F^B-4S:NS@1KN-,J?2G-_JQBY'P+^)<4`*K\@35PAQ+]@\E;=4UDA'N#@2
M$_7]L8@<^G!3<?QZ]_G?=9($RQS@W\.;Z(Q)VKM-3[+<:;5^S.'G2:?/C&)1
M\"WB-`"@I\@?48P>X4P^S9M42']L1X`A%%-BU>#=H?9$2F*!O7@>LG>NY>%D
MFI]2;]F.K\JV%5?<9?\`.\O^)!=_&EXU?!#J3F6B7&"WWURW(V66M,6WPL-[
MV.UYECP5Y.H*<2?$V**/9RI2%W6<'#[FJN$N^24X,V[%`*8*SNK<&^J^W=W4
MT51(I/PI@"<M3@`@'+'I11%ALE'M>36?[9,E.K`U#I<"2B!2A)Q*9E%3C#8G
KM#_Y2_S\_P`P\<?W>>[_`)\_7TKEG:>G0O\`:7+R<(N7W:KQ7SIZ.$?_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
