Experiencing built worlds - Atmosphere in the contemporary practices of architecture exhibition

HAL Id: halshs-00745039

https://halshs.archives-ouvertes.fr/halshs-00745039

Submitted on 24 Oct 2012

HAL is a multi-disciplinary open access

archive for the deposit and dissemination of

sci-entific research documents, whether they are

pub-lished or not. The documents may come from

teaching and research institutions in France or

abroad, or from public or private research centers.

L’archive ouverte pluridisciplinaire HAL, est

destinée au dépôt et à la diffusion de documents

scientifiques de niveau recherche, publiés ou non,

émanant des établissements d’enseignement et de

recherche français ou étrangers, des laboratoires

publics ou privés.

Experiencing built worlds - Atmosphere in the

contemporary practices of architecture exhibition

Roberto Gigliotti

To cite this version:

Roberto Gigliotti. Experiencing built worlds - Atmosphere in the contemporary practices of

architec-ture exhibition. Ambiances in action / Ambiances en acte(s) - International Congress on Ambiances,

Montreal 2012, Sep 2012, Montreal, Canada. pp.455-460. �halshs-00745039�

!"#$#%&'()*)+),-#.,#(,./&#0#!"#$%&%'%()$*+*',)-."/0"#####1#

233

#

!"#$%&$'(&')*+,&-.*/0%-12*

!"#$%&'()(*+,*"'(*-$,"(#&$).)/*&).-"+-(%*$0*.)-'+"(-"1)(*(2'+3+"+$,*

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

5(/6$)7%8* .)-'+"(-"1)(* (2'+3+"+$,9* %&."+.:* (2&()+(,-(9* ."#$%&'()(9* ,.))."+;(* %&.-(*

30*$"4&+&.*

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

23Y

#1#####Z'H#8',&6'.,)5'.+#!5'G6&((#5'#IN*).'D&(C#[5',6&.+#Z\UZ#

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

!"4&+&.&')*5%(4&.$(.,%$6*.0*#%$2$'.*0%*.0*%$#%$2$'.*

;5# &LM)*),# .6DM),&D,E6&# )(# .# O.6.H5L# *&D.E(&# )'&>),.*+-# ,M&# .D,E.+# Q56/(# .'H# D5',&',# .6&# OM-()D.++-# .*(&',K# 7&'&6.++-C# ,M)(# ME6H+&# )(# 5>&6D5N&# ,M65EGM# ,M&# H)(O+.-# 5?# H5DEN&',.6-# N.,&6).+# .*5E,# ,M&# 5*P&D,# 5?# ,M&# &LM)*),)5'# (EDM# .(# H6.Q)'G(C# OM5,5G6.OM(# .'H# ,M6&&B H)N&'()5'.+# N5H&+(# T_5+.'5C# Z\\`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

I6DM),&D,E6&# &LM)*),)5'(# D5>&6# .# Q)H&# (O&D,6EN# 5?# .D,)>),)&(C# QM)DM# &L,&'H# ,5# .# >.6)&,-# 5?# DE6.,56).+# .'H# .E,M56).+# )',&',)5'(# .'H# O5(),)5'(R# I# N5H&+# '&)GM*5E6M55HS# ,M&# (M5Q# 5?# .6DM),&D,E6.+# H6.Q)'G(S# ,M&# OE*+)D# O6&(&',.,)5'# 5?# ,M&# 6&(E+,(# 5?# .# D5NO&,),)5'S# .'H# ,M&# O6&(&',.,)5'#5'#,M&#5DD.()5'#5?#,M&#D5NO+&,)5'#5?#.#*E)+H)'GC#.6&#.++#.6DM),&D,E6&#&LM)*),)5'(# T!M.'C# Z\U\XK# a.DM# 5?# ,M&(&# N5N&',(# D.'# *&# D5'PEG.,&H# .DD56H)'G# ,5# H)??&6&',# Q.-(# 5?# E'H&6(,.'H)'G#,M&#O6.D,)D&#5?#H)(O+.-)'GR#5'&#D.'#&LO+.)'#*E)+H)'G(S#5'&#D.'#(E*N),#.#D5NB O+&,&#H5DEN&',.,)5'#5?#.'#.6DM),&D,E6&#T?56#&L.NO+&C#,M65EGM#OM5,5G6.OM-#56#>)H&5#b#*E,#)'# ,M)(# D.(&# ),# )(# E(&?E+# ,5# N&',)5'# ,M&# ?.D,# ,M.,# 5?,&'# .6DM),&D,E6.+# OM5,5G6.OM-# )',&',)5'.++-# '&G+&D,(#,M&#MEN.'#O6&(&'D&C#.'H#,M)(#(M5Q(#,M.,C#)'#,M)(#D.(&C#OM5,5G6.OM)'G#.6DM),&D,E6&# N&.'(# ."-."$"#(%#3# .'H# '5,# -."$"#(%#3# ),XS# 5'&# D.'# &LM)*),# H6.Q)'G(# ,M.,# 6&O6&(&',# ,M&# .6DM),&D,E6&#)'#.'#.*(,6.D,#?56N#T(/&,DM&(C#H).G6.N(C#O+.'(C#&+&>.,)5'(C#(&D,)5'(C#6&'H&6)'G(X# .'H#,M6&&BH)N&'()5'.+#(D.+&#N5H&+(K#a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c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

!"#$#%&'()*)+),-#.,#(,./&#0#!"#$%&%'%()$*+*',)-."/0"#####1#

23W

# &LO&6)&'D&# .DD&(()*+&# ,5# ,M&# OE*+)DK# d5Q&>&6C# *-# E()'G# ,M&# ,55+(# N&',)5'&H# .*5>&# )'# ,M&# 6&O6&(&',.,)5'#5?#.6DM),&D,E6&C#Q&#&'H#EO#'&G+&D,)'G#.'#)NO56,.',#.(O&D,#5?#,M&#N&H).,)5'# O65D&((K#

!"#$%&$'(&')*5%(4&.$(.,%$*

8'#,M&#H&?)'),)5'#5?#,M&#(O.,).+#&LO&6)&'D&#Q&#.6&#Q),'&(()'G#QM&'#Q&#6&+.,&#,5#.6DM),&D,E6&C# ),#8(#&((&',).+#,5#D5'()H&6#,M&#Q.-#Q&#O5(),)5'#5E6(&+>&(#)'#6&+.,)5'#,5#,M&#5*P&D,#5?#5*(&6>.B ,)5'K# e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

:4'* -."$"#:"# )'# QM)DM# 5E6# &LO&6)&'D&# *&D5N&(# D56O56&.+# .'H# ,.D,)+&K# ^),M)'# ,M)(# (O.D&# Q&#

6&?&6#,5#.++#5E6#(&'(&(#()NE+,.'&5E(+-C#M&6&#,M&#G&5N&,6-#)(#'5,#.*(5+E,&C#*E,#H&O&'H&',#5'# ,M&#D&',6&#QM)DM#Q&#6&O6&(&',#*-#*&)'G#)'#,M)(#O+.D&K#^&#'5#+5'G&6#(O&./#5?#N&.(E6&(C#*E,# 5?#,M&#H)(,.'D&#?65N#5E6#*5H-C#Q&#H5#'5,#,.+/#.*5E,#O5(),)5'(C#*E,#.*5E,#6&+.,)5'(M)O#Q),M# ,M&#O+.D&#QM&6&#Q&#.6&#T@fMN&C#Z\\YXK#I++#5,M&6#N.,,&6(#6&+.,&H#,5#,M&#,.D,)+&#DM.6.D,&6)(B ,)D(#5?#,M&#N.,&6).+(#.'H#,&L,E6&(#5?#,M&#&'>)65'N&',(#)'#QM)DM#Q&#+)>&#(M5E+H#.+(5#*&#,./&'# )',5# .DD5E',C# ()'D&# .6DM),&D,E6&# M.(# .# N.)'+-# *5H)+-# 6&+.,)5'(M)O# Q),M# +)?&# Tg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a>&6-,M)'G#,M.,#N./&(#EO#.#*E)+H)'G#(,6)/&(#N&K# I#O+.D&#.'H#,M&#?&&+)'G(#&LO&6)&'D&H#Q),M)'#,M)(#.6&#)'&L,6)D.*+-#*5E'H#,5G&,M&6#*&D.E(&C#.(# _&,&6#gEN,M56#(,.,&(#h.#*E)+H)'G#)(#'&),M&6#N&((.G&#'56#()G'C#*E,#&'>&+5O&#.'H#*.D/G65E'H# ,5# ,M&# E'?5+H)'G# 5?# +)?&K# I# (&'(),)>&# D5',.)'&6# ?56# ,M&# 6M-,MN# 5?# (,&O(# 5'# ,M&# ?+556C# ?56# ,M&# D5'D&',6.,)5'#5?#+.*5E6C#?56#,M&#()+&'D&#5?#(+&&O#TgEN,M56C#Z\\YXiUK#

7+2$'($*5'1*%$#-5($8$'.*

I# :7#0"#(%7#4'# .6DM),&D,E6&# &LM)*),)5'# D.'# .)N# ?56# .# ()NO+&# H&(D6)O,)5'# 5?# .'# .6DM),&D,E6&C# Q),M5E,#)']E)6)'G#)',5#N.,,&6(#,M.,#Q5E+H#G5#*&-5'H#,M&#O+.)'#O6&(&',.,)5'#5?#,M&#Q56/#5?# ,M5(&#QM5#H&()G'&H#),K#;M&#6)(/C#)'#,M)(#D.(&C#)(#,M.,#,M)(#O6&(&',.,)5'#)(#+)N),&H#,5#H&(D6)*)'G# .'H# &LO+.)')'G# *E)+H)'G(# ,M65EGM# H6.Q)'G(C# N5H&+(C# OM5,5G6.OM(# 56# N5>)&(C# *E,# b# )'# ,M&# .*(&'D&# 5?# ,M&# *E)+H)'G(# ,M&N(&+>&(C# ,M&# &LO&6)&'D&# 5?# ,M&# .6DM),&D,E6&# )(# H&')&H# ,5# ,M&# >)(),56K# ;M)(# /)'H# 5?# &LM)*),)5'# H5&(# '5,# G&'&6.,&# &NO.,M-# *&,Q&&'# ,M&# 5*P&D,# .'H# (E*P&D,# >)(),)'G#),K#;5#H)6&D,+-#(5+>&#,M&#O65*+&N#5?#),(#.*(&'D&C#,M&#&LM)*),&H#5*P&D,#)(#N.H&#-7.(4&'"# .'H#D.'#*&#6&*E)+,#)'#&LM)*),)5'#(O.D&K#@E,#)?#Q&#?5DE(#5'#,M&#&LM)*),)5'#),(&+?#.'H#'5,#(5+&+-# ############################################################################

23`

#1#####Z'H#8',&6'.,)5'.+#!5'G6&((#5'#IN*).'D&(C#[5',6&.+#Z\UZ#

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g.6H)')C#Z\U\XK#

7.802#4$%$*)$'$%5.$1*.4%0,)4*.4$*2#5($*09*.4$*$"4&+&.&0'*

8'#Z\U\C#.?,&6#.#+5'G#O&6)5H#)'#QM)DM#O6.D,)D)'G#.6DM),&D,(#M.H#*&&'#&LD+EH&H#?65N#,M)(#65+&C# ,M&# ,.(/# 5?# DE6.,)'G# ,M&# j&')D&# I6DM),&D,E6&# @)&''.+&# M.(# *&&'# G)>&'# ,5# k.AE-5# %&P)N.K# 8'# ,M&#O.(,#%&P)N.#.+6&.H-#O.6,)D)O.,&H#)'#(5N&#&H),)5'(#5?#,M&#&>&',C#.'H#)'#H&?)')'G#,M&#D6),&B 6).#.65E'H#QM)DM#,5#56G.')A&#,M&#&LM)*),)5'#(M&#(,.6,(#&L.D,+-#?65N#M&6#?56N&6#O5(),)5'#.(#.# O.6,)D)O.',# T9&>-# l# [&'/)'GC# Z\U\XK# ;M&# (M5Qm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j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n5,#5'+-#.6DM),&D,(#.6&#)'>),&H#,5#,./&# O.6,# )'# ,M&# &LM)*),)5'C# *E,# .+(5# &'>)65'N&',.+# &'G)'&&6(C# >)H&5B# .'H# N&H).B.6,)(,(C# O5&,(C# ?)+NN./&6(C# OM5,5G6.OM&6(C# D6),)D(C# +.'H(D.O&# .6DM),&D,(C# O+.''&6(C# .'H# NE(&EN# DE6.,56(K# ############################################################################

!"#$#%&'()*)+),-#.,#(,./&#0#!"#$%&%'%()$*+*',)-."/0"#####1#

23V

# ;M&#)',65HED,)5'#5?#O65P&D,(#DM.6.D,&6)(&H#*-#.#(,65'G#.,N5(OM&6)D#D5NO5'&',#)'#,M&#(M5Q# N./&(# E(&# 5?# ),(# &>5D.,)>&# O5Q&6# )'# 56H&6# ,5# &LO+56&# ,M&# G6&-# A5'&C# ,M.,# >.GE&# *5E'H.6-# *&,Q&&'#,M&#H)(D)O+)'&(C#QM)DM#DM.6.D,&6)(&(#,M&#O6&(&',#DE+,E6.+#O65HED,)5'K#

[.,,M).(# %DME+&6# 5?# ;6.'((5+.6# .'H# ;&,(E5# k5'H5# O6&(&',# ,M&# O65P&D,# h!+5EH(D.O&i# )'# ,M&# I6(&'.+&#(O.D&(K#;M&#>)(),56#5?#,M&#&LM)*),)5'#)(#G)>&'#,M&#5OO56,E'),-#,5#N./&#.#*5H)+-#&LO&B 6)&'D&C#,5#*&#OM-()D.++-#+5D.,&H#Q),M)'#.#D+5EH#.'H#,5#?&&+#),(#M&.,#.'H#MEN)H),-#5'#M)(#5Q'# (/)'K# ;M&# D+5EH# )(# )'# D5'(,.',# ,6.'(?56N.,)5'K# :'&# D.'# &LO&6)&'D&# ,M)(# ?65N# .*5>&C# *&+5QC# .'H#*-#(5./)'G#)',5#),#*-#N5>)'G#5'#,M&#?6&&#D.,Q.+/#,M.,#;&,(E5#k5'H5#M.(#(E(O&'H&H#5'# ,M&#I6(&'.+&#D5+EN'(K#;M&#&OM&N&6.+#.'H#&>5D.,)>&#'.,E6&#5?#,M&#)'(,.++.,)5'#(,)NE+.,&(#.# '&Q#)',&6O6&,.,)5'#5?#(O.D&#*-#,M&#O&6(5'#&LO&6)&'D)'G#),C#D6&.,)'G#.#6&+.,)5'(M)O#5?#NE,E.+# ,6.'(?56N.,)5'#*&,Q&&'#(O.D&#.'H#)'H)>)HE.+#T%&P)N.C#Z\U\XK#

<56# M&6# h<56,-# _.6,# [5,&,iC# o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

!.6E(5#%,K#o5M'#.'H#;M5N.(#F&N.'H#O6&(&',#hn.G&+M.E(iC#.#O65P&D,#?56#,M&#6&?E6*)(MN&',# 5?#.#(]E.6&#)'#gE6)DMK#8'#,M)(#O65P&D,#,M&#?.N5E(#!M5']E)'G#M5E(&#b#H&N5+)(M&H#)'#Z\\W#)'# !M)'.# .?,&6# -&.6(# 5?# 5OO5(),)5'# ?65N# ),(# 5Q'&6(# ,5# .# O65D&((# 5?# E6*.'# (O&DE+.,)5'# b# 6&.OB O&.6(#)'#gE6)DMC#)'#.#(]E.6&C#E'H&6#.#M)GMQ.-C#)'#,M&#?56N#.#!M)'&(&#6&(,.E6.',#5O&'#,Q&',-B ?5E6# M5E6(# .# H.-K# ^),M)'# ,M&# (O.D&# 5?# ,M&# _.+.AA5# H&++&# a(O5()A)5')C# !.6E(5# %,K#o5M'# .'H# F&N.'H# 6&O65HED&# .# URU# (D.+&# N5H&+# 5?# ,M&# M5E(&# N.H&# &',)6&+-# 5?# O.O&6K# ;M&# O65D&((# 5?# .*(,6.D,)5'# .'H# .+)&'.,)5'# ?65N# 6&.+),-# ,M.,# DM.6.D,&6)A&(# ,M&# Q56/# 5?# F&N.'H# QM&'# M&# ,./&(#O)D,E6&(#5?#6&O65HED,)5'(#5?#()G')?)D.',#O+.D&(#)'#5E6#M)(,56-#N.H&#5?#O.O&6#.'H#5'#.# 6&HED&H#(D.+&C#6&O&.,(#),(&+?#)'#,M)(#&LM)*),)5'#(O.D&#.(#.#(56,#5?#&'H+&((#M.++#5?#N)6656(K#;M&# M5E(&C# Q),'&((# 5?# .'# .*E(&C# )(# 6&D5'(,6ED,&H# )'# gE6)DM# .'H# 6&.OO&.6(# .G.)'C# ?65A&'# )'# .'# &L,6.'&5E(#N.,&6).+#(EDM#.(#O.O&6C#)'#,M&#j&')D&#&LM)*),)5'K#

8'# ,M&# .6DM),&D,E6&# &LM)*),)5'C# )'# .HH),)5'# ,5# ,M&# 5?,&'BD),&H# .*(&'D&# 5?# ,M&# >&6-# 5*P&D,# 5?# ,M&#(M5QC#,M5(&#QM5#M.>&#N.H&#,M&#Q56/#.6&#.+(5#N)(()'G# b#*E,#,M)(#)(#,M&#>&6-#'.,E6&#5?# &>&6-#&LM)*),)5'K#d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p(#>)H&5(#.6&#)'#&??&D,#.#D5',6)*E,)5'#,5# ,M&#&LM)*),)5'R#,M&#.'(Q&6#5?#.#DE6.,56#,5#%&P)N.p(#]E&(,)5'#.*5E,#,M&#6&+.,)5'(M)O#*&,Q&&'# D5NNE')D.,)5'#.'H#(O.D&#,5H.-K# %&P)N.#H&()G'&H#.#(&6)&(#5?#)'H&O&'H&',#&LM)*),)5'#(O.D&(#*&,Q&&'#,M&#M5E(&(#5?#.#>)++.G&# 5'#.#(N.++#o.O.'&(&#)(+.'HC#QM)DM#Q.(#5'D&#?.N5E(#?56#,M&#O65HED,)5'#5?#G6.'),&C#.'H#)(#'5Q# .+N5(,#E')'M.*),&HK#;M&#.)N#5?#,M&#O65P&D,#)(#,5#G)>&#'&Q#+)?&#,5#.#O+.D&#,M65EGM#.'#)',&6>&'B ,)5'#)'#QM)DM#>)++.G&C#NE(&EN#.'H#'.,E6&#D5)'D)H&#.'H#,M&#O6&(&'D&#5?#>)(),56(#5>&6+.O(#Q),M# ,M.,#5?#,M&#)'M.*),.',(K#;M&#OE*+)D#5?#,M&#&LM)*),)5'#)(#)NN&6(&H#)'#,M&#6.6&?)&H#.,N5(OM&6&# 5?#,M&#>)++.G&C#QM&6&#,)N&#(&&N(#,5#(,.'H#(,)++K#8'#,M&#O6&(&',.,)5'#5?#,M&#O65P&D,#.,#,M&#j&'B )D&# @)&''.+&C# <)5'.# ;.'C# QM5# Q56/(# .,# ,M&# &LM)*),)5'# .+5'G# Q),M# %&P)N.p(# 5??)D&C# *6)'G(# ,5B G&,M&6#,M&#)(+.'H#.'H#,M&#>)(),56#5?#,M&#&LM)*),)5'#*-#O6&(&',)'G#.#(&6)&(#5?#>)H&5(#)'#QM)DM# (M&#H&(D6)*&(#,M&#(+5Q#O.(()'G#5?#,)N&#5'#,M&#)(+.'H#,M65EGM#.#O56,6.),#5?#,M&#5+H#)'M.*),.',(# .(#,M&-#G5#.*5E,#,M&)6#H.)+-#DM56&(K#

2Y\

#1#####Z'H#8',&6'.,)5'.+#!5'G6&((#5'#IN*).'D&(C#[5',6&.+#Z\UZ#

7)>&'#,M&#?.D,#,M.,#.6DM),&D,E6&#&LM)*),)5'(#.6&#)'D6&.()'G#)'#O5OE+.6),-#.'H#,M.,#)',&6&(,#)'# ,M&# ,5O)D# )(# 6)()'GC# N.'-# 5,M&6# &L.NO+&(# D5E+H# M.>&# *&&'# ,./&'# )',5# .DD5E',# ,5# O65>)H&# (EOO56,#,5#.6GEN&',(#O6&(&',&H#)'#,M)(#O.O&6K#d5Q&>&6C#,M&#+.(,#&H),)5'#5?#,M&#I6DM),&D,E6&# @)&''.+&# b# .# (M5Q# ,M.,# *65EGM,# .'# )''5>.,)>&# *6&.,M# )',5# ,M&# Q56+H# 5?# .6DM),&D,E6&# N&H).,)5'# .'H# D5NNE')D.,)5'# b# O65>)H&(# (E??)D)&',# &>)H&'D&# ,5# &'H56(&# ,M&# O5)',# 5?# >)&Q# &LO6&((&H#)'#,M)(#O.O&6K#

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d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

:$9$%$'($2*

@fMN&#7K#TZ\\YXC#Q.:6%("C(/.*/#2*Q(87$-6R."C#[q'DM&'C#^)+M&+N#<)'/#j&6+.G# !M.'#!K#TZ\U\XC#S56%&%(%#3*Q.:6%(":(/."B*$67;?*27#,(*("''B# QQQKH5NE(Q&*K),c),c.6DM),&D,E6&c&(O566&B+.6DM),&,,E6.B)++E(,6.B'5'BO.6+.6&c#rZYc\2cZ\UZs# 9&>-#IK#l#[&'/)'G#^K#TZ\U\XC#Q.:6%(":(/."*7#*2%$-'4AB*7#*(6"*6%$(7.A*79*(6"*M"#%:"*1%"##4'"* 79*Q.:6%(":(/."C#95'H5'C#I6DM),&D,E6.+#I((5D).,)5'#_E*+)D.,)5'(# _.++.(N..#oK#TUVVYXC#D6"*"A"$*79*(6"*$C%#<*Q.:6%(":(/."*4#2*(6"*$"#$"$C#o5M'#^)+&-#l#%5'(# _5+.'5#%K#TZ\\`XC#Q''"$(%8"#(%*(.4*'"*T/%#("*2"'*J4''42%7C#[)+.'5C#a+&D,.# 4.(NE((&'#%K#aK#TUVY2XC#S5-".%"#:%#3*Q.:6%(":(/."C#!.N*6)HG&C#[8;#_6&((#

%&P)N.# kK# TZ\U\XC# 8',65HED,)5'C# )'# J"7-'"* 8""(* %#* Q.:6%(":(/."<* 1%"##4'"* Q.:6%(":(/."* KLILC# j&'&A).C#[.6()+)5C#OOK#U2BU3#

;ENN)'&++)#_K#TUVVWXC#_65G&,,.6&#+p&??)N&65C#U78/$*U7$$%".*G*S$-7.."C#[)+.'5C#OOK#2BY# g.6H)')# [K# TZ\U\XC# aLM)*),)'G# .'H# !5++&D,)'G# 8H&.(R# I# [5',6&.+# _&6(O&D,)>&C# P73?* V/.4(%#3*

Q.:6%(":(/."C#<.++#Z\U\C#OOK#WWB`2#

gEN,M56#_K#TZ\\YXC#Q.:6%("C(/.*2"#C"#C#@.(&+C#@)6/MtE(&6#

gEN,M56#_K#TZ\\YXC#Q(87$-6R."#<*Q.:6%("C(7#%$:6"*W83"&/#3"#<*U%"*U%#3"*/8*8%:6*6"./8C# @.(&+C#@)6/MtE(&6#

7,.40%*

45*&6,5# 7)G+)5,,)# TI6DMK# [9IX# )(# I((5D).,&# _65?&((56# 5?# 8',&6)56# .'H# aLM)*),# F&()G'# .,# ,M&# <.DE+,-#5?#F&()G'#.'H#I6,#5?#,M&#<6&&#=')>&6(),-#5?#@5+A.'5K#d)(#N.)'#6&(&.6DM#)',&6&(,(#.6&# ,M&#aLM)*),)5'#5?#I6DM),&D,E6&#.'H#,M&#_E*+)D#%O.D&#5?#,M&#!5',&NO56.6-#!),-K#