<SEC-DOCUMENT>0001193125-12-250584.txt : 20120824
<SEC-HEADER>0001193125-12-250584.hdr.sgml : 20120824
<ACCEPTANCE-DATETIME>20120529113127
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-12-250584
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20120529

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STANTEC INC
		CENTRAL INDEX KEY:			0001131383
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ENGINEERING SERVICES [8711]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		10160 112TH STREET
		STREET 2:		EDMONTON ALBERTA T5K 2L6 CANADA
		CITY:			EDMONTON
		STATE:			A0
		ZIP:			00000
		BUSINESS PHONE:		780-917-7000

	MAIL ADDRESS:	
		STREET 1:		10160 112 ST
		CITY:			EDMONTON, ALBERTA
		STATE:			A0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>Correspondence</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR>
<TD VALIGN="bottom" ROWSPAN="2">


<IMG SRC="g359850gra.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Stantec Inc.</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">10160 -112 Street</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Edmonton AB T5K 2L6</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Tel: (780)&nbsp;917-7000</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fax: (780)&nbsp;917-7330</FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">May&nbsp;25, 2012 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">File: 1-32562 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>via EMAIL </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>BY EDGAR PRIVATE CORRESPONDENCE </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">United States </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Securities and Exchange Commission </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Washington,
D.C. 20549 </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear Ms.&nbsp;M. Hooker: </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="8%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Reference:</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Stantec Inc.</B></FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Form 40-F for the fiscal year ended December&nbsp;31, 2011</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Response to SEC Comment Letter dated May&nbsp;24, 2012</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are in receipt of your letter dated May&nbsp;24, 2012 regarding our Form 40-F for the fiscal year ended
December&nbsp;31, 2011 (the &#147;Comment Letter&#148;). We will undertake to provide a fulsome and detailed response to the Comment Letter as soon as possible, but in any event no later than June&nbsp;7, 2012. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We trust the foregoing is satisfactory. We appreciate having received your comments and look forward to the opportunity to respond to them in detail.
Should you have any questions or concerns in the interim, please do not hesitate to contact me. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sincerely, </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>STANTEC INC. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">/s/ Dan Lefaivre
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dan J. Lefaivre, CMA </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Senior Vice
President&nbsp;&amp; CFO </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tel: (780)&nbsp;917-7071 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Fax: (780)&nbsp;917-7330 </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">dan.lefaivre@stantec.com </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Attachment: </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%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">c.</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ivor Ruste, Audit and Risk Committee Chair </FONT></TD></TR></TABLE> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Ross Haffie, Ernst&nbsp;&amp; Young LLP </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g359850gra.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g359850gra.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@`80!F`P$1``(1`0,1`?_$`*L```(#`0$``P``````
M```````)!@<("@4"!`L!``$%`0$!`0`````````````$!08'"`,)`@$0```&
M`0,#`@((!04!``````$"`P0%!@<`$0@2$PDA%#$B02,551;7&)AA,D(S)/!1
M<9$*H1$``@$#`P(#!`8'!P0#`````0(#$00%`!(&(0<Q01-182(4<3)"4F((
M@9+2(Y34%I&A<H(S0Q6Q4W,DP:(7_]H`#`,!``(1`Q$`/P#OXT:-&C1JA<V\
MEL/<?DZ\AD6T$;V6YR*4/1J'"ME9R]W:76.5--C6ZRQZWKDI3G#NNENPQ;`/
M4NNF7UUV@A,\=Q/N1+2TA,L\CFB0Q@5WR-]D'[(ZLYZ(K'IKG))L>&$*SW%Q
M*(XD45:1S]E!YT^T?JJ.K$#4(5Y*N7Q$_LJJDC3G#<Q9E^D[72W]0(HC%F%K
MW2`/S=#A4F_\IC!ZC2F2[L1F=HL)`&@!($DM1N]XC%"![-S5]J@]-6C9]O'6
M(2928K,1U2.AI[BYZ$^V@I["?'7V&>;;0YZ0%"&ZC>@`1HZ]?^/\XVD<7<C-
MMU9;;]5OV]=)>%8U#13-7_$O[.I&VS<5FNFWGA@6ZI]MDE))*+<FW^DB+QPH
M)_\`@`T_X_G>3F&^6U$L7F8PX_O^,?\`33-><6LH^D<Y1_8Y4_LG5OP=NAIT
M"%;+]ER<H&*V<=)#G`0`=T3E,9)<-AW#I,([>NVIIB^1XW*GTXF*7/W'Z']'
MD?T&ONU&;W$W=E\4@W1?>7J/T^8_3J3Z?M-NC1HT:-&C1HT:-&C1HT:-&L<Y
MIY75^G7Q]A>E+M)G),77&-EN:I5"KLL=1,^HLWJP2Z90.16QV86SA=DR,("1
MFV.Y6`$S(%7@W<[DMSPKBT63@`&0OYGAMMPK_I@&:6A\5BW(HKT,CJ.H5@)7
MP7!P\GSTEE*2;.TC62>A^^2(XZ^1>C,?,(I/B5UR`YKY19#J_D!LF9K\V>V&
M;QO?Y&(C*U8WSAJ<U+9MWT(R:Q[E<JGM`EHE^H_1<$(=([EP"FQB^FM#<,X!
MB^6_E_@X]971+YO'I//=K^\=[MRDKO)U^+TY$$+1D@K&FP;::J3DG+[[CW=R
M7,74`"8R[:*&W/P*MNH:-53I\.]&,@<`[G;<:UTW_&G,&WYLCVSG#?&[)3SW
M!2]5HR5(PM#QU&F$@&445L1#3$E/(H>HB2.9*JG`-_DWW#(F?[28C@ERT7-.
M3XM&4_Z%DDMW>/UZ`0GTTB)]LTB@$^?GHO$]PLARR`/QC!WS!A_JW+);VR^_
MU/C:0#V1H2?=J1C;+1:FKQ]9LG'MT6R>ECY1>B2$QB;CY"R2BOMR5U&TP:DE
MEK--B,Y^J!A$/.RNM]4H#<X].G.RAQN*ECM\=C?D[ETWHMTJ7V5D0"OK-!($
ML<=#3XO5GC#*OQ*9!UTVW;WM_&\UY>_,P*^UC`6MK!&ZCTUE7=<WDE>FR)B"
M?A8(>FOG9;SA7`+!A.9:DXFEF>I"[AJY'UN(@[W/H@;T<1%&KK6;R`W:'4#;
MWEALY5=_[I$S_($HP=GRSF\SVG&(Y;Q4.V25I7DMXS['N93';%OP6MIM^Z6'
M4L&5FP7&HUGS3I;LPJL814F<>U84#S`?BFGK[0#TU'&_F#PY#"FP@L3Y7EV#
M4>EM(2<]76CQ0A1#I.8CN2EW1/X`=81+_#X:F<'Y=>4RGU[O(X^*X/4JB2D`
M^XJJ#](4:C$W=?"?Z=O:73Q#S9DJ1]!9C_:=,;XI^2W`'(B68T4)J3I5[?F*
MC#UZ_),XUS-+B'RL8B9:.W<-,/3?T)`JF[/]"1OCI9<\/Y?Q6+;FUCNL<.@N
M826"^P3*0'0>QR"ODS:2Q9W!YE]V.+0W)\8G`!/O0@E3_AK7S`TR?2/7?1HT
M:-&C1HT:-&C5>Y3OC3&U$G[<Y[1U6#<B,8V6.!`>S#Y4C.,:`'44QP.[6*)P
M+\W;*8?HU%N:\C3B?%[W/L`TD$)V*?!I&HL8/N+E:^ZNI#Q3!MR3D-KAE)"3
M2#>1XA%^)R/>%!I[Z:XO>(W-"MQ?)#E*KG:TD@Y?-&49*SM[G853I1I)J!EY
MV&)7Y=Z8O1$(?9"J!&9U.AND#;M")-R;O'?SM!RGE/;KBF9XC#)D;C%XQ5N(
MH_BFD%S'#.]Q&M:R'U=YD5:M1PR@A31%VA[C\?P'-.0XKDDB6,%_?EH9'Z1(
M8'DB6!V^P/3VA&;X:J0Q!(TQ*\\H>(,(]CI:>LF.<C7,P(L*U$4Z"ALH7^2<
M*GZ643!I1+.4<IJKKF`$RJ+H)E,.^X>NLU<3[5]\;Z"2SQUIE<7@!5YY+J67
M'V<:@?')*96C4@#JQ5':GD=77R/GG:RTF2YNKG'W^7-%B2"-+RY<GZJ1A%<U
M)Z`%E'OUZ%BL%IL=9+=N0C63QWC!RYCXFF\;ZN^+(7_),U**%3K];R!*12J`
MR4E-K@!$JM%*IL4B=9I%RJDFJ0C[@HL/C<K_`,!VUDBRG*T1Y+G-SILL[**,
M5FGLXY`=D<0J6O[A3*QH+6)'9"6O)S9&^L/^6YLDEC@694@QD3;KFYD<TCBN
M70C<[GH+2$B-14SR,H8#R<\YO2XPX[BLA7)A77N:YMHO!X9QDP%-2EXI8E;)
MI+DAV+8B#=PC6V2J9)26*FDI).C$9M>PS$"!+^VW$&[I\CEX]@Y+E.$6[B7(
MWSU%S?ON)!D9B2#,P)@MR6$*`S2^I,*ZC_->1KP+"QYC*)`W*9E,=E:K3T+1
M:4(110$1*1ZLP`,CD1Q[(^FD(6:]V>^V67N5TG7]CL\ZY.]EIF36%9RY5,/R
MD+OLFV9MB;$103`J*"8`0A2E``UZ(8K#XW`XV'#X:!+?&0*%2-!0`>WVECXL
MQJS&I8DZQW?9.]RM[)DLC*\U]*VYV8U)/_P!X!10`=``--NX1^-&4SE78G*N
M:YN9H^.)I,CRJUJ"(W1N=QC3#]5-.'D@@Z;UFO/`#_&,*"SMV3ZPI4TQ(<]'
M=QN]MEQK(/@..QQW67B.V61ZF&%O-`%(,DB_:%0JGH2S5`LWB7;NYS%HF5RS
M/!82"J(M`\B^3$FNQ3]GH2PZ]!0EJ\IXI.'\M`C'UZ-R!29Q-,IHZX0]]F9.
M58OTMCM7ZK&<4>Q+HR"Y2GZ2)-S;A\AR#L8*XQO>KES3[[U[:>`_6C:)54@^
M(!6C"H]I/OJ-2ZZ[?858]EN)8Y@.C!V)KY&AJ/'W?1ICW'&5R$E2`Q_EQ^E.
MY'QL+:OR=R;)*(,LCUX4C#5,AMT5!.=J\GHU$4I-N8YC-YAH[*`F3[1SKKRX
MQ]\XR.*&RRFJ?3)J8G^W&?:%)JA\T*GQJ`F@CNK=?E;SK<1]-WWQY-^GP/X@
M?*AUH32/7?1HT:-&C1HT:2WY0.0:-0SKP^X_C(&:(Y(3S'>7R(J`FD\DJE78
MR&I[,^XAW%'*U@DS)%'T%9$FP=6VH)WDP%UDNRF:R]JN_P"1N[!I`.I$)E82
M,?PJWIECX4!)Z`ZF?:K,VUCW8Q6,NFV_.6UXJ$^!E$:E%'O(#@#VT]HTAG-/
MC<;Y-R=-7V@9'BZ5&6^36FK%79J`>29(^8?*=Z5=U]:.>-BF;2+DQE_;K@3M
M*G,`*"00`K#VL_.>_$.%VO%>5XF?(WN/A6&WN(9TC,D2"D2SB16(:-0$]1"V
MY0"4#`DR#N%^5M>1<IN.0<>R,5E:7DIEFADA9]DCFLC1%&6JNU6V-3:Q-&I0
M#6V$^.O';A-49?)\]*-WDQ"1RCBP95N*+4CR/;F()31U1B4>XC#*/SCVDD6P
MK/W9S`053@/2$`YIWD[I?F'SMOQ#&0M'8W,H6#'6I8JY^_<RFAE"#XF>39#$
M`6"+XF5<:[8<`[+XB;D=_*'NH(R9;VX"AD'W($%1'N\%5-TKGX2Q\-67A60E
M,GRB_+/,+92HU2)A9AQ@RD3ANV&/,="T56F<IV5`X]HM\N\4B)P/L)F$5TI)
MB'=,(\N:M9\.M4[*\%<7V:FN(ER]W#U^=OMP$6/@(ZFSM)#2G^]<5=_J`:Y\
M:CNN2S-W/Y2AM,;'"YQUO)T^6M=I+WDP\/F;A!6O^W#15^L=(PY(<@Y3D1E^
MQ9"=J+HP/=&&H\2L8>F%IT<LJ6*0[0CTIO)#K,\=B'\SE<P#Z%+MZ3]J>WEK
MVSX3:\;B"MDMOJW<@_W;EP/4-?-4Z1Q^Q$'F3K%'/>9W'-^3W&:DJ+.NRW0_
M8@4G8*>3-U=_Q,?(#5D\*L.(\@^1%"H,J@=>J-G*ULO($W`IZE62IO7[%0_]
M!9QV9O'[_$/=;AZAKGW8Y@>#<&O,W"P7(L!#;U_[TOPJP_\`&NZ3_)KIP#CO
M]4\HML8X)LP3+-_XH^I'^<[4_P`VNK;./(.E\:<1SF3;*DE]GP39M%5FK,%$
M6*]BGUTA;P%4AB=!DVQ%"H;G,!#$:LT5%!*()].L!\&XYE>=\CAP6/)]>4EY
M96JPCC!K),_F?'H*U=V5:U.M6\IRUCQ?#R9.[`])`%1!0%W/1(U]GA_E4$^6
MN>:=\BO.'(MA>W"N9#M]9AV+E1PC7\:5Q/\`!\`U35ZTVCXP0\H>2(B4`*HK
M)+*F5]1$"@/2&Z,=VI[;X*S3'3VT$MRP`,EQ)^^D/M7XUVU\0(U`'O\`'68;
MGF_+,I<-=QRR)$IKMB3]V@]A.UJT\RQ-?=I]GB[YZK<J6LS1LCI13/-%.AB.
MG3^+0381]YJHN4TOQ`RCR#VF$G&2!BHR#9+Z@IG"2R12%4.F2KN7<(/"\I'+
MC2[<?O"5`8DF*506"%O-64,48]>A4U(!,VP7)/ZALVCO`HRD%"2!0.A--P'D
M0U-P\.H(\:!PVH]IUT:-&C1HT:-&N6K_`-'F.[1*'X^9BHII%*R88CK++/7,
M.94LM'5^2FH94U@9&0`5B#7)B);+*&#?MHJ'./RD-I1P7GN`Q7=5>V/+/1.%
MY1AGBC6:GI27,4K`6[[NG_LPRRHH/UG5$'Q,NDW,>'YK(=O#S_C?JC*\>RBR
M.T5?42"2-29D(Z_N)8XW8CZJ,S'X5.DH5'RP9>BH!!G8*%0K3--VY$_Q.=U,
MP?O3$(``[DXB.449*+G`.HXMSMDS&$1*4H>FOS,?D0[?7>7:YQ&6RUAC&<GY
M8+#/LJ?J1S2`.%'@OJ"1@/%FTHQ?YR.:P8M;?*XS&WE^J4^8+2Q;NGUGB0E"
M3XG844GP`UJ;C_1<S\RK-7LV<HW9D<0UUX27QSB9NR5AJY:)$@]3695@C*J+
MKUML8`W=/3K.9(0[:9@;=?75_<SF?;?\N^*NNVG950_/;J/TLADV<33VT9^M
M")@`HN&_[4*I';@[F4S;=MA\"XMSOO9?P<][J'9PZ!_4LK`(8H9V'U9?2)),
M"_\`<E+//]52(JUMKR9<C"T_&L9@^O/P2LF34TWUH*U.5,\9CV-<``,U"IB`
M(!9Y5N5`I-@`S1LL7^4P:;_R;=MWY%RB;N+E(]V'Q!V6Y;J)+Z1?K"OC\O$Q
M<GRDDC/B-*_S.<V7"8&+A5@],ED1NF"]"EJA^J:>'K.`H'FB./`Z1JQD1+L`
MCZ>GT_Z'7IFR@_3K"J/[?#3_`#PW48R<7E[+:Z`=R2?P>.(!8Q?F,C'D"Q6,
M$##_`$J.GL>0VV^XI;?1MK#7YN^2A;W#\3C;_3CDO)1[W/HPU^@+*1].M6_E
MTP9>TR/()%^NZ6T9]RCU)*?26C'Z-:5=TM'GUR'DY6W.'*_%'CE-/J=!1+1T
MLV;Y>RHW%(+D[!TW4(<:Y#K$(R6<)&!11%($4CE[ZYBQFPY">R7`X+2Q"CN;
MGX5N)&8`FQLFK\NI4_[L@K(JGH&)9@=B`O5YAAW.Y7+<7))X3B96A0`D"ZN1
M_K&H_P!M#1"P\0`JD;FHRE3,/'_!98"@2U[Q5B,JK=NU@:8M,U^I)E:&`J38
M$89-1J5JU5#8"JK$(0X^HF$1$1K3'XCF?+_5S5K:9')48F2<))-U\35R#4CS
M"DD>P:EM]?<<X\8\;<7%G9U`"1%DCH/`47I0>\@`^W56I<?Z[2^=_%_D1BB,
M85]._P`QD"AY7CJ^DBV@YPDKBJWV."MJ;5B7V)7$@>"$CHZ0%3<J)MUO[G48
MUW]O.:7N8XMD>'YQWE>TCCGM6<DNFR9(Y(B3\5%WU4'JH+KX4`K+EO'(,?FK
M3/XU51)W:*8+]5MT;.CT'2IV]2.A.T^/4NFTMTET:-&C1HT:-&DY>663CJ*3
M`-]L)V["IS]HG\12D\^,BG&Q=DM,<E.TAI+++;(MXZP'KLDQ!1402]XNW3-_
M=U0'Y@>U^8YIQ@<KXO%)<9[!*TTD,0)EDLV*^K)$J_$SVKB.6B?%Z1E<`E-7
M%V;[@XSB>?\`Z=Y#)'#ALPPBCDD($:70!]))"?A"W"%XZM\/J"-3];2=8WB_
MQO:67\6)83H*<^+GWO=/#=;$KLQN[[I&"56/`I*BH/4`E;``&]0#Z=9?3\Q_
M>ZZP8X]+RK+OA@FRGK4D*`4V-.`+@BG3K*>G0ZT#_P#AO::VRYS<?'<8N2W[
MZ^E5`WCN$))A!KUZ1CKU&IAG'DMCKCG5%)VXR2"LVJU4+5:,Q71"PV1VFF!&
MS9LR#<\?$)GZ07>*E*W;I@.PF/TD,_=F^T_,N\^=7&<<A<8Q9!\U?.I^7ME)
MJS,_A),179"I,CM2M%JX2=T.YG%.UN&;(9Z53D&0_+VB$>O.P%%"IXI$#3?*
MP"(OA5J*><'(V5K5F"^6+(US>E=S]E?"Y6(D)P9QK1(H(QT-&)',8S>,B61"
M(HD^/27J-N8QA'VXX5PS!]ON+6?$..1E,591;033?(YZR32$?6EE<EW/M-!1
M0`/)SD_+,MS/D-UR;-N'R%U)N(%=J*.B1(#X1QK15'L%34DG7B-GP%+U#O\`
M*&_R^H^@;[%`/43?[!_UJ4!:F@TSU%-P\==2&.H:T<<N%&)L/4M,&V=<QH(U
MRMI=(`K%WW)R;BQ6RU/B@)3D88PJ"JSIRH.W0:/2)ON<H:\N\SF\5W*[X9CF
M.9;=P+"L9ICY/:61$-O`OD7OK@*B#S$K-X`ZWEBL;?\`".UF-XUC5V\NR8$<
M8\TN+H&6:5OPVL)9V/EZ:CQ(U8V0,C.^-M&HO%'BE5%;[G`]41:UR);IMUFM
M)@SB<LIEO)+QP=./8N)>566=(%?*)E=NU#'.)DB`50XKB8^Y&;ONZ_=.[&/X
M2+LF60D@W,HZI86:@%V$:!48Q`F.,!11C5?O/Y!N%XNT[?<"MS><H^7`C04(
MAC^U=W)/PJ7<EEWD;W))^$4*]K=XQN5TE$3^19NWTC(-^?@YG9ZNEL,Y)6V=
M=F*=P\30G92(;1,M+&`!!)#NIIJ#LFD;;I*.F,'^9?M:EW!Q^RM;VPP:;8XI
M3%&D$8\%)C1RZ)[6VDCZS#Q.J1RO9'G;6\N6NI[:[RC5=XQ([2N?$T=D"LWL
M%0#X`^&G&^$:US63<(?95L4=OU\!WNQ5ZN+R/<.ZCX^0@&HQD2J+@HJI#"(6
M61:HD$0,D@!4_0I`+I@[BX6WQG==\AC@JP7^)6:7;3:TC2["PIT_>"-7)^T0
M6\ZZ<.(9*:]X&MI>$F6UOS$F[Q""/=3KU&PN5]PH/+3YM->EFC1HT:-&C1HU
MEKFIQ=JW,SC#EWCG:U$62&0JRLW@)U5`'!JM=8I9&9I=I2)T&4,,%96#9=0A
M-C+(%42WV..GSC><GXYF[?,6]2T+U8?>0]'7_,I(]QH?+3-R'#0Y_#SXJ:@$
MJ?":5VN.J-^A@"?:*C7YM-RR'RWXXW*Y8!NN2<IT.U8OL$A3;+4@MLP",5(1
M*O:VBUU5S'/"OFPIN6*Z)@1<LEDE4]R'*.M`S]F^R'*YUY3<<8P%W<W(]3UF
MLX=SENM7`4!GKT;<"=P->M=4+;]U>[?'(GXU%R#,VT-N3&81=2T3;Y(2Q(0C
MJNT@;2*=-4D[LDO/2+B7GI:3FY=V8#.Y68D'<I(N3!\!7?/EEW2O3OZ`8P].
MK'L<5C</9)C<1;P6F-B%$BAC2*)?\,<851^@=?/4-N<K?Y*[>_RD\US>R&K2
M2NTDC?XG<LQ_2=>NS?>H>O\`]^/\-=&32B*7S&F`<!<%%S?FB/G+*FDVQ1B4
M[6]9&EY$Y&\0*448\A#5YR[6V;E"7>,^ZY`1V)'MUSFV^7?//YC.YH[><%?'
MXMBW,\WNM+&)/BEK)1)9E4?%^[5MJ4'69XU'G2\NQW!FYKRU;V^`7B^*I<W<
MC=(Z)5HXBQZ?&R[G]D2N3Y:Z"7%XL4S?6]OK,$C.9?N5>>U[`]/GT5V\7C'%
M3QZW/9<VY+;I@#R#;7.2;(*D:;$?/FK5C&(%*L=Z9+SUL,7C<?QUL-E+DP<*
ML;E)LM<PD,]]D%4^AB[%C\,K6R,RF3K%%))<7<A*+`'V7?7=[>9D9.PA$O*+
MN!H\=!("%M;-F'JW]V!\48G<*0G221%AMT`<S%:0N'-?CAPM2GZ76'\AR!SQ
M/R:DOE2RLY"-;N[#<C%[;AW>;B5-VS8)QPE!!E!QJ3I*):$*@4B0E,8UR<9[
M.=S>]IML]E(X^.\`@B$=A"R.5BMJU"VML2K.7^M+=3LC7$A,A+U`%:YON7P;
MM<)L38.^9YA-(7NY5909)_,SS4*KM^JEO$'$*`)1:5.E>#O.QKRQ7N<6_HQZ
M'9J*WB)EPDPEU;#$2<+*NW#-%9JNHP8OD)!J[;=)T#)J`H4Y3$-N!BA'.\O9
M.X[3BQN+6^_Y#'Y!WB7=&(I5E0*=I4,ZLKAOA8$$$$$>!+]VS[H0]P_FXI[3
MY.\LU61J/OC,;$BH)52I4CJ"""#4'Q&F^<!.-*G'+$UK4F&8Q]TS/E*\YFM<
M6(`7\/?B^755K54Z2_*5:OU9%HFZ`/0'YW`%$2=.KVO[HW:622?%-:8RUM2_
MB6,$=&/T&1G(]HH=5%;0B%[ETZ13WL\X7[HE>JCZ=@0'WBFMS:0:4Z-&C1HT
M:-&C1HT:1CY>?#I6.?L:US!B:0A\>\IJC$$BT)I^W,2M99K+$JAV51O)VH`N
MUEXL3F"(F"E44;%,9LN11L9,6\_XEW+R7";26`VSY#&?7$"NJ2!OM&%G^#<P
M^PY1&:E7CZMJ`\M[=6',+F.YCN$L<H/A,S(SQLOV1*J?'13]M`SJM0$?HNN+
M"]\"^86+[1)5"S8-MKB7B'IV#S\/D:S3=-PF?IZ5/;KD>-`-_,7W"*.Y1`P?
M+ZZFV*_-1V$R:O'=\@M\5DX21+:Y%);.YA8>*O'*FUB/(QO(K>*L00=0N_\`
MRZ]Z<<RF#"3Y&QD%8[FQ>.ZMY5/@RO&VX`^R1$9?!@""-77B+QQY[MJZ4CDM
M.-PY3VP`O)OYY_&R=G,U+ZJ)1E=8/S-TG2A0V*9^Z:)$'U-O\!KCG'YU^T.$
M0V/"))N2<A<[8TMXY8[8,?`R7$D88J#XB"*5CX"GCJQ.&?E.[G9>07?+5BP.
M#3XI&F>.2XVCQ$<".5#'R,TD:CQ-?#39Z<TH&'J#!8_I+6(A:!&R)'A59XSF
M:BKG:BJ(C^)[>M$MRS><K<5PW348U:L(.(LBR:17;PJ22::>.\EF.5<^Y3<\
MJY')/<<IFBVE8=L,EI;4/_KVJRMZ6'M=K,)LCDGCN64N8+<N[.VJ[/$\<X9Q
MVWX]@4A@X[%)N!E)E2YN*C]_<-&/4REQ4`Q6-@CP*P433A555T-5<>W?(Z$J
MVFI"WXPQ]:G))"\/7$DBRY#YQ<`D=`@7.?B#BWQ%12-3]EK!19_M%%H/8ZV!
M3*)G8+OG''.+R0/CTL<QR6S79:JB%L)B5J"?E8I1NR=V6&Z2\N!Z#2?O*7)"
MNKK;\2SF?247C7>,P-RVZX9V"Y7(FE/_`&)(_AL+:GPI;0GU53X*P`LIT&.#
MN.4%C>5IJ^'\=LJ"2)=I/HAE3HYR]52]L=,563E)FXL+ZQJB(`V5354?JNA*
M!!%00`6/'=Q>Z>9Y;;92SS&5N.52W""(_,2'<Y843TPPB$7WDV",)6H"@Z<,
MAPC@6+X[/8W&-Q\.`CA8R#T4%%"FK;R-Y?[K;BY:E"6IJYO#9XZ[/QMQW-95
MS;`NJ]D3),PTEXFB2X)FFZE4H4704]M;2$.HFTL1P>JOG#+<3MEE4R+=*R)B
M!NKNA.G-N8V=W<LCX;#PD0HO5);N3:9[@_@3:L<`\]K2'H5&LE\#C?BW&KJV
M@#+DLE)65FZ-';IN$4(_$VXO*?+<$'@3I[FF;3EHT:-&C1HT:-&C1HT:-&C1
MJELL\?<4YJ;$+>JR@XE&Z0HL;+&'&+LK!/?<$T)9N7NKMRCN((.`6;[B(]&^
MH%S3MGPWGT0'(K16O%%$GC/ISH/8)%ZD#[CAD_#J8<6YYR?ATA.$N2MLQJT+
MC?"Q]I0]`?Q+M;WZ79D+QB/GX*)U"^Q$S'@911HQN<:XCY-B8WP%K.PA'A0<
M](``+$:MSA]`AK/5U^6OD6$NC=\*S,9C/C'<HR%AY*[1;TD'N:(*?,'5TP=]
M<)EK<6_*L6XD'VX&5J'S95DVM&?>LA8>1U5E=\;V5:M(J/8B`QTA)+!VE[$>
MS2$E-+I;](D5G)>,=SYV_3Z]L5>@`]`+I!>=HN\^3C6PRES:28Y358EG].W4
M^T6\<,<0/GN]/=[].ECW/[5XV1KRPM[E+]A0R-#ZDQ'L,TDKR$>[?M]VM#U#
M@=>Q52/;KS6XEL&PJ)P+61FWA@^DH'?)0S9,P_0;90/X:>L1^7?/O(#F,A:P
M0^8B5Y6_07$:CZ>OT::LMWPP>PC%65Q++[962-?[%,A/]WTZW!C3`F/,7D(O
M$1QY2;`"==AG12?28&+TC_A[))M8PG6&X`@F0P_`QC;!J_>(]N^.<-'JXZ-I
M,B5H9Y2&DH?$+0!44^80"HZ,3JE>2\VSG*#Z=\ZI9`U$48VI4>!:I+.1Y%B:
M>(`U=&IUJ(Z-&C1HT:-&C1HT:-&C58WS$=1R.]CW]C>W]JO&-5FC8M/RSE3'
M34Z*ZI5CF>L<?7*L,I)P!RATJN4U52%W*4P%$0URDA24@MNJ/8S#_H1IUQ^9
MO<9&T=JML5<@GU+>WF-1TZ&:*0J/<I`/B1J"_I=Q=][9O_<[R3_-C7/Y2+\?
MZ[_M:</ZLRWW+#^!L?Y?1^EW%WWMF_\`<[R3_-C1\I%^/]=_VM']69;[EA_`
MV/\`+Z/TNXN^]LW_`+G>2?YL:/E(OQ_KO^UH_JS+?<L/X&Q_E]0R^XCXW8KK
MCJX9-R=D''E39*)HN[+=N7^?*M!(+K]78;J2LWF1DR!RXZ!!-/KZU!#8H".O
MB2&UB7?*S*GM,C`?WMI=CLSRC+W0LL5:6US>,*A(L;9R.0/$[5MB:#S-*#SU
M"<8QG"W-325?8AY!S.3&L$@#J<4H_-O-EF&%:F,)2.I=.)S6Z5C&IS`(%47*
M0AA`=A'8=<XA8S@F&0L!XTD8T_\`MI?EI>=8%TCS6-2T>0T3U<7:IN/L7=:C
M<?<*G5HP/'W"%IBFD]6+CE>QP;_O^QF8'E?R'EXIY[9RLS<^TD8_+[AFX]N[
M;J)'Z#CT*$,4=C%$`[+;0.-REROM$C_M::;CDF?M)C;W<%G%<+2JOC[)6%0"
M*J;8$5!!%1X$'7L?I=Q=][9O_<[R3_-C7[\I%^/]=_VM</ZLRWW+#^!L?Y?1
M^EW%WWMF_P#<[R3_`#8T?*1?C_7?]K1_5F6^Y8?P-C_+Z\*2P+@F&DX:%E[Q
ME**F+$X49U^)DN6?(1C)SKM)!9TJUAF#K,"3J3<)MFZBAB($.8"$,80V*(A\
MFWMU(5F8,?#]X_7Z/BTHBY#R&>)YX;>T>"(5=EQUF505`JQ%M114@5-.I`U[
MOZ7<7?>V;_W.\D_S8U]?*1?C_7?]K2?^K,M]RP_@;'^7T?I=Q=][9O\`W.\D
M_P`V-'RD7X_UW_:T?U9EON6'\#8_R^IRAB&H-Z&\QPF]R`-<?.RO5W2N6LJN
M+@58DDUE0*VR*O<U,@,FWNF9"BBC)IHB@)T!+V5%$S=/101^E\6W_$U?[:U_
MOT@;-7K9!<F5MOFE6@`M[<1TVE>L(B]$FA/4QDUHU=P!%GZZZ:=&C1HT:-&C
M1KF._P#0M@S.EUG.+F9X/&=GSAQRPZZGG>6<:UE2:.5J\7GJW).92>;UU)S-
MQT-::M'.(DTRV15/$_,(BF"P":+\B@GD:*=5,ELE=RBOM'C3KU'2OEK5OY;.
M0<?L+?+X*XNHK#D]Z$%O/)MZ@(ZA4+T5FCD(D])B!)T\=O1=64\L\',M\,N3
M=M\>F%(/C=EAQC:HP7*_%EVD9T'+[CZSN\8[5L&(!CI>6K-CL$=D\\$U>.A]
M@L6/<*^Z:=1T3@VRS6,UE*^.012[`)%-?J5'5?(G=0'PZ>(U9F(PW/\`#<XQ
M5GW*OY,IAQ=2/C[B)4H+PQ,`ESN571#!ZK*OQC>!L>@8:WGPCS!SSP-XH\:V
MVMV+A)CR@J357B<&W3.EJFJC#57%$@_RI)9#GLE.%)=DC+W<UO;QZ$)&Q2+E
M19JJJ)D%#E^5PL9LA;XE74P+'4!2Q(HOQ5)]]:4`_LU7G/,+V\Y%W@NK.ZBS
MUSD1'(UU%:1K(TEPHMUA2`;25B],N97D*@,!1@/&$X"\V7*UYDCD#B&X3G%[
MD,ZJ''G,^5L89;PQ$75A0%KABC&[_(I(N23E'-?DIZL/&\8X8NP*VCW3=Z0H
MIK+)&W'G;YR[,LD+F*2D;,K+6E5%?.E1Y>772_D78?AZ8O&YJRCRV,2?)VUO
M/;W31&81W$XAW+M#JD@+!U^)U*DU4'59/?,7Y8#\2(3F,UHO&5MAIMF-]CJ5
ML@0<TXFIN;5."K&O&IYKC[J#JS(6YF9I`KA5\NX5`^Y"=(ZY'-9;Y,7H6+T-
M^TFAJ3[*5Z#RKXZ=H^R79X<SDX0]QE3G#8B94WJ%51XOZGI4>0UW;-H4`4ZG
M51YLRGS'SAY;^(^8,>P6$(7,^1L&8\R!Q?@K6YL3RBQ&.KQC?(5D:-<I.&ID
M90UH0-)SY%3,2I%,4C(`#?JWXSRWL^8AFC$8G:,&,&M*%2?B]_CX>[3S@<1P
MC`=FLSA,G)?O@K7(30W[QA!*TT4\*$VX-5],[82-]?&3W:T_</-9RXR?.9XM
M&";OPMQ!CGC@@9!K4\YS;I+)?)&3@T7Z=@-C6*5GF!G023F$<+L6;?VQDT7+
M1N9TLY5$"JWS=Y*TC6[0)'%Y-]9Z>.WK[N@^@5KJ)V78GAF)M\=:<AM\[>Y3
M*&IDM%'H62O0IZ[;#3:&`=CNJ5=@BJ-3F8\Z?('DA^EC!_"#$E"+R;SG"".1
MSWI62FJCCNU-7\XR>PL$B5W$"M&H1-;<S[B0?'7*SB%D$^PNX$_1]MGKBY]*
M"Q1?FI!UKU"GKT'A[*U/@/?IO@_+]QOB_P#R^?Y]>7']*8^3]QZ6U9)HR$(9
MS1J,6=851`-T@8[E6E7#P[3R;FX86N-FY3C4ESK3L;=E4+$S;V`V#G%6&\UO
MW,Q*LS-CS))8N.U)3I3*V*3[3(C]7VQ'=Y493Y(AC%\_7H>NVE1U]M:5_3JD
MYW[4CG,,L"94]OC$3(A*?-"3TGHJFNW;ZWI]=U?3+=:Z8GIRU6>C1HT:-&C1
MHTN+F;>O)-C_`"/CR7X5X4Q3G;&CJHSK')-4R!<8BDRT?;OM=DM7YB#EWDU!
M.BMRQ)%TER;O$3B<OU1#!W!;;V3)QR*UBB214.X$@=?(@U&K/X-C^UV2Q=S#
MSJ_O,?E1,A@DAB:56CVD.KJ%<5W4(/PGQZD=-(P8^(#G%GE[SMY%9HIN'<)Y
MASQC>:K^+L+46QQ@5E>SRMGH<_)K2TC7UYB#AHY_$486I%5W;ER]EI!1\[[(
M%'K81A[^X,]S.J)-(I"J#TK4'K2H'A3WDU.M`2=ZN`<=CX]QG!3WU_A,==*\
M]U*C>H(UCF10H<*[,K2[J!558T$:;J]*ZO7C5\J&6.,7%?&%HX^XK;,N$UC<
MLJCB^5RY59-/-T+;YHMEE;#9$FUB/5605K[(3AW+91^T</6$HN=N;<#DUR?&
M9::UBB>-*0'HNX?$":DGK3IX>(J#TTYX_NEVBP_*\OE;3)7A?/1`R3K;R+\J
MT:[%1"4]0[]QD5@C!7C4-Y'5H,/'7Y%[QRMR-R"N/%?!.'(6\\1\W8BBJ)AR
M^T!K2:S-VOCW;\=TFOIPQYINL23>V%^U(_>))C'I&5ZRJ=I,3!V&.R3W;7#P
MQHK0LH"D4!*$`4K[?'RTTR=S.V6/XA:\;LLOD+Z>WS-K<M-<Q3&5TCO(YI7W
M;2-H0,44G>:4IN--2-IXON;1?#5(\05L6PI,\CRM1R6UJ0Y*H:D>M1@&.6/+
M!9PG1KJ2Q5"JE]J9P#@1)OT_,&OK_BK[_A?D]@^8];=3</#VUK325^[/`_\`
M]P7FJW<AX]_PY@,GH35$OQ#;Z>S>1X?%MIU\>FO3OO`3R+XHS_X_^5N#,*T3
M*USX_P#$;$.*+QCFQ93JM=;0N0*/1+71K%#O9E[,LV\E#OHZUBHUD(U5T4CE
M`W63HZ!4_9,?DH;BWN[=%=XX54@L!0@$'K7PZ^(URQW<7MEF..<CX?G[^XL[
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MMC9A(`"ZE)T+P_`PV'8ZBG5TL1E/R*K<-[1D*9XQXF:<S6MD;H5/`;7);%2A
MR=5->Z[&.7TE?/Q(HQ;RB=!<R<F4GO$P%RW20Z!,;I,]K-DODC(T2?.UZ)NZ
M4J/.OLJ?'5%S8CMDO.(<9!EKP\&,1,EV8#ZRR>D[`+#LJ5]8(E=I^$EJ]*AA
F6G'5:Z-&C1HT:-&C1HT:-&C1HT:-&C1HT:-&C1HT:-&C1HT:_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
