0001318148-13-000651.txt : 20130327 0001318148-13-000651.hdr.sgml : 20130327 20130327093307 ACCESSION NUMBER: 0001318148-13-000651 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 9 CONFORMED PERIOD OF REPORT: 20130131 FILED AS OF DATE: 20130327 DATE AS OF CHANGE: 20130327 EFFECTIVENESS DATE: 20130327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS CENTRAL INDEX KEY: 0000357159 IRS NUMBER: 251408834 STATE OF INCORPORATION: MA FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-03387 FILM NUMBER: 13718432 BUSINESS ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 BUSINESS PHONE: 8003417400 MAIL ADDRESS: STREET 1: 4000 ERICSSON DRIVE CITY: WARRENDALE STATE: PA ZIP: 15086-7561 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED US GOVERNMENT SECURITIES FUND 2-5 YEARS DATE OF NAME CHANGE: 19950424 FORMER COMPANY: FORMER CONFORMED NAME: FEDERATED INTERMEDIATE GOVERNMENT TRUST DATE OF NAME CHANGE: 19920703 0000357159 S000009041 FEDERATED U S GOVERNMENT SECURITIES FUND 2-5 YEARS C000024571 Class R Shares FIGKX C000024572 Institutional Shares FIGTX C000024573 Service Shares FIGIX N-CSR 1 form.htm Federated Investors, Inc.

United States

Securities and Exchange Commission

Washington, D.C. 20549

 

Form N-CSR

Certified Shareholder Report of Registered Management Investment Companies

 

 

 

 

811-3387

 

(Investment Company Act File Number)

 

Federated U.S. Government Securities Fund: 2-5 Years

_______________________________________________________________

 

(Exact Name of Registrant as Specified in Charter)

 

 

 

Federated Investors Funds

4000 Ericsson Drive

Warrendale, Pennsylvania 15086-7561

(Address of Principal Executive Offices)

 

 

(412) 288-1900

(Registrant's Telephone Number)

 

 

John W. McGonigle, Esquire

Federated Investors Tower

1001 Liberty Avenue

Pittsburgh, Pennsylvania 15222-3779

(Name and Address of Agent for Service)

(Notices should be sent to the Agent for Service)

 

 

 

 

 

 

Date of Fiscal Year End: 01/31/2013

 

 

Date of Reporting Period: 01/31/2013

 

 

 

 

 

 

 

Item 1. Reports to Stockholders

 

Annual Shareholder Report
January 31, 2013
Share Class Ticker
R FIGKX
Institutional FIGTX
Service FIGIX
 
Federated U.S. Government Securities Fund: 2-5 Years
Not FDIC Insured • May Lose Value • No Bank Guarantee
Management's Discussion of Fund
Performance (unaudited)
The Fund's total return, based on net asset value, for the 12-month reporting period ended January 31, 2013, was -0.61% for the Class R Shares, 0.02% for the Institutional Shares and -0.21% for the Service Shares. The BofA Merrill Lynch 3-5 Year Treasury Index (BAML3-5T),1 the Fund's broad-based securities market index, returned 0.65% for the same period. The Fund's total return for the most recently completed fiscal year reflected actual cash flows, transaction costs and other expenses which were not reflected in the total return of the BAML3-5T.
The following discussion will focus on the performance of the Fund's Institutional Shares. The 0.02% total return of the Institutional Shares consisted of 0.96% in taxable dividends and -0.94% in depreciation in the net asset value of the shares.
During the 12-month reporting period, the Fund's investment strategy focused on: (a) maturity; (b) sector allocation; and (c) security selection.
MARKET OVERVIEW
Short-term Treasury yields were stable at very low levels during the reporting period. The three-year Treasury yield rose slightly, from 0.29% on January 31, 2012 to 0.40% on January 31, 2013. The five-year Treasury yield also rose slightly, from 0.71% on January 31, 2012 to 0.88% on January 31, 2013.
The primary reasons for the low level of Treasury yields were the Federal Reserve's (the Fed) Zero Interest Rate Policy (ZIRP) and Quantitative Easing (QE) program. Under ZIRP, the Fed targeted 0.00% to 0.25% for the overnight federal funds target rate, pressuring all short rates lower. In addition, the Fed promised to keep the federal funds target rate near zero until the unemployment rate falls to 6.5%, suggesting that the federal funds target rate will remain near zero at least into 2014 (the unemployment rate was 7.9% at the end of the reporting period, having fallen from a peak of 10% in 2009). Under the QE program, the Fed has been purchasing Treasuries and government agency mortgage-backed securities (MBS)2 in an effort to lower intermediate- and longer-term interest rates. The Fed's goal in employing both ZIRP and QE is to force investors out of “riskless” government bonds and into “riskier” asset classes such as stocks, corporate bonds and real estate. The Fed hopes that bolstering these markets will ultimately stimulate economic growth and lower the unemployment rate.
Annual Shareholder Report
1
MATURITY
The Fund had less interest rate risk (duration)3 than the BAML3-5T for much of the reporting period, anticipating that interest rates would rise.4 Interest rates did rise modestly, as noted above, and the Fund benefited from having less interest risk than the BAML3-5T. Offsetting the gain from the duration underweight was an overweight to intermediate maturity securities at the expense of longer maturities. In some cases, the Fund's maturity positioning was accomplished using Treasury note futures contracts.
SECTOR ALLOCATION
In June 2012, Federated announced that during extreme market conditions such as a near-zero yield environment, the Fund will be able to invest in government guaranteed MBS as a temporary investment strategy. In August, the Fund began investing in MBS guaranteed by the Federal National Mortgage Association (Fannie Mae). Timely payment of principal and interest is guaranteed by this federal agency, but not explicitly by the U.S. Treasury as is the case with Treasury securities. These government agency MBS pay a yield premium over Treasuries and unsecured agency bonds because the return of principal is not known with certainty, but depends upon the prepayment characteristics of the underlying mortgages. A 30% allocation to agency MBS benefited both income and total return as these securities outperformed Treasuries due primarily to Fed purchases via the QE program.
SECURITY SELECTION
Security selection had a small, negative impact on Fund performance, mainly from faster than anticipated prepayments on certain MBS. Partially offsetting this was an allocation to Treasury Inflation-Protected Securities (TIPS). TIPS were supported by higher home rental rates (which make up a significant portion of the consumer price index), rising energy prices and the Fed's explicit focus on lowering the unemployment rate, which some investors construed as potentially inflationary.
1 The BAML3-5T is an index tracking U.S. Treasury securities with maturities of 3 to 4.99 years. The index is produced by Bank of America Merrill Lynch, Pierce, Fenner & Smith, Inc. The index is unmanaged, and it is not possible to invest directly in an index.
2 The value of some mortgage-backed securities may be particularly sensitive to changes in the prevailing interest rates, and although the securities are generally supported by some form of government or private insurance, there is no assurance that private guarantors or insurers will meet their obligations.
3 Duration is a measure of a security's price sensitivity to changes in interest rates. Securities with longer durations are more sensitive to changes in interest rates than other securities of shorter durations.
4 Bond prices are sensitive to changes in interest rates, and a rise in interest rates can cause a decline in their prices.
Annual Shareholder Report
2
FUND PERFORMANCE AND GROWTH OF A $10,000 INVESTMENT
The Average Annual Total Return table shows returns for each class averaged over the stated periods. The graphs below illustrate the hypothetical investment of $10,0001 in Federated U.S. Government Securities Fund: 2-5 Years (the “Fund”) from January 31, 2003 to January 31, 2013, compared to the BofA Merrill Lynch 3-5 Year Treasury Index (BAML3-5T),2 the Lipper Short U.S. Treasury Funds Average (LSUSTFA)3 and the Lipper Short-Intermediate U.S. Government Funds Average (LSIUSGFA).3
Average Annual Total Returns for the Period Ended 1/31/2013
Share Class 1 Year 5 Years 10 Years
Class R Shares -0.61% 2.81% 3.02%
Institutional Shares 0.02% 3.51% 3.74%
Service Shares -0.21% 3.27% 3.50%
 
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Mutual fund performance changes over time and current performance may be lower or higher than what is stated. For current to the most recent month-end performance and after-tax returns, visit FederatedInvestors.com or call 1-800-341-7400. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Mutual funds are not obligations of or guaranteed by any bank and are not federally insured.
Annual Shareholder Report
3
Growth of a $10,000 Investment–class R Shares
Growth of a $10,000 Investment–Institutional Shares
Annual Shareholder Report
4
Growth of a $10,000 Investment–Service shares
1 The Fund's performance assumes the reinvestment of all dividends and distributions. The BAML3-5T, LSUSTFA and the LSIUSGFA have been adjusted to reflect reinvestment of dividends on securities in the index and averages.
2 The BAML3-5T is not adjusted to reflect sales charges, expenses or other fees that the Securities and Exchange Commission (SEC) requires to be reflected in the Fund's performance. The index is unmanaged and, unlike the Fund, is not affected by cash flows. It is not possible to invest directly in an index.
3 The LSUSTFA and the LSIUSGFA represent the average of the total returns reported by all the mutual funds designated by Lipper, Inc. as falling in the respective categories, and are not adjusted to reflect any sales charges. However, these total returns are reported net of expenses or other fees that the SEC requires to be reflected in a Fund's performance.
Annual Shareholder Report
5
Portfolio of Investments Summary Tables (unaudited)
At January 31, 2013, the Fund's portfolio composition1 was as follows:
Portfolio Composition Percentage of
Total Net Assets
U.S. Treasury Securities 59.8%
U.S. Government Agency Securities 8.1%
U.S. Government Agency Mortgage-Backed Securities 31.4%
Derivative Contracts2,3 0.0%
Repurchase Agreement—Collateral4 4.9%
Cash Equivalents5 0.7%
Other Assets and Liabilities—Net6 (4.9)%
TOTAL 100.0%
At January 31, 2013, the Fund's effective maturity7 schedule was as follows:
Securities with an
Effective Maturity of: 		Percentage of
Total Net Assets
Less than 2 Years8 10.3%
2-5 Years 89.0%
Greater than 5 Years 0.0%
Derivative Contracts2,3 0.0%
Repurchase Agreement—Collateral4 4.9%
Cash Equivalents5 0.7%
Other Assets and Liabilities—Net6 (4.9)%
TOTAL 100.0%
1 See the Fund's Prospectus and Statement of Additional Information for a description of the principal types of securities and derivative contracts in which the Fund invests.
2 Based upon net unrealized appreciation (depreciation) or value of the derivative contracts as applicable. Derivative Contracts may consist of futures, forwards, options and swaps. The impact of a derivative contract on the Fund's performance may be larger than its unrealized appreciation (depreciation) or value may indicate. In many cases, the notional value or amount of a derivative contract may provide a better indication of the contract's significance to the portfolio. More complete information regarding the Fund's direct investments in derivative contracts, including unrealized appreciation (depreciation), value and notional values or amounts of such contracts, can be found in the table at the end of the Portfolio of Investments included in this Report.
3 Represents less than 0.1%.
4 Repurchase Agreement purchased with cash collateral received in securities lending transactions, as well as cash held to cover payments on derivative contracts, when-issued and delayed delivery transactions.
5 Cash Equivalents include any instruments in money market mutual funds and/or overnight repurchase agreements (other than those representing Repurchase Agreement - Collateral).
6 Assets, other than investments in securities and derivative contracts, less liabilities. See Statement of Assets and Liabilities.
7 For callable investments, “effective maturity” is the unexpired period until the earliest date the investment is subject to prepayment or repurchase by the issuer (and market conditions indicate that the issuer will prepay or repurchase the investment). For all other investments “effective maturity” is the unexpired period until final maturity.
8 Does not include repurchase agreements purchased with collateral received in securities lending transactions or cash held to cover payments on derivative contracts and when-issued and delayed delivery transactions.
Annual Shareholder Report
6
Portfolio of Investments
January 31, 2013
Principal
Amount 		    Value
    U.S. Treasury—59.8%  
    U.S. Treasury Notes—59.8%  
$40,000,000   0.375%, 11/15/2015 $39,994,148
100,000,000   0.500%, 7/31/2017 98,833,590
20,000,000 1 0.750%, 12/31/2017 19,891,340
59,400,000   0.875%, 2/28/2017 59,901,651
26,000,000   1.250%, 9/30/2015 26,608,447
15,000,000   1.875%, 6/30/2015 15,559,080
29,500,000   2.000%, 1/31/2016 30,884,836
33,800,000   2.125%, 12/31/2015 35,478,626
15,000,000 1 2.625%, 12/31/2014 15,677,219
24,200,000   3.250%, 7/31/2016 26,489,736
37,000,000 2 4.250%, 11/15/2014 39,628,787
    TOTAL U.S. TREASURY
(IDENTIFIED COST $398,805,046) 		408,947,460
    GOVERNMENT AGENCIES—8.1%  
15,000,000   Federal Farm Credit System, 3.875%, 10/7/2013 15,373,935
40,000,000   Federal National Mortgage Association, 0.875%, 8/28/2017 39,939,220
    TOTAL GOVERNMENT AGENCIES
(IDENTIFIED COST $55,002,342) 		55,313,155
    Mortgage-Backed Securities—31.4%  
81,435,725   Federal National Mortgage Association, 2.500%, 10/1/2027 – 1/1/2028 84,371,027
123,903,905   Federal National Mortgage Association, 3.000%, 3/1/2027 - 8/1/2027 130,509,451
    TOTAL MORTGAGE-BACKED SECURITIES
(IDENTIFIED COST $216,542,292) 		214,880,478
Annual Shareholder Report
7
Principal
Amount 		    Value
    Repurchase Agreements—5.6%  
$5,146,000   Interest in $3,875,000,000 joint repurchase agreement 0.16%, dated 1/31/2013 under which Bank of America, N.A. will repurchase securities provided as collateral for $3,875,017,222 on 2/1/2013. The securities provided as collateral at the end of the period held with The Bank of New York Mellon, tri-party agent, were U.S. Government Agency securities with various maturities to 11/20/2042 and the market value of those underlying securities was $3,952,517,567. $5,146,000
33,324,000   Interest in $3,875,000,000 joint repurchase agreement 0.16%, dated 1/31/2013 under which Bank of America, N.A. will repurchase securities provided as collateral for $3,875,017,222 on 2/1/2013. The securities provided as collateral at the end of the period held with The Bank of New York Mellon, tri-party agent, were U.S. Government Agency securities with various maturities to 11/20/2042 and the market value of those underlying securities was $3,952,517,567 (purchased with proceeds from securities lending collateral). 33,324,000
    TOTAL REPURCHASE AGREEMENTS (AT COST) 38,470,000
    TOTAL INVESTMENTS—104.9%
(IDENTIFIED COST $708,819,680)3 		717,611,093
    OTHER ASSETS AND LIABILITIES - NET—(4.9)%4 (33,219,307)
    TOTAL NET ASSETS—100% $684,391,786
At January 31, 2013, the Fund had the following outstanding futures contracts:
Description Number of
Contracts 		Notional
Value 		Expiration
Date 		Unrealized
Appreciation/
(Depreciation)
5United States Treasury Note 2-Year Long Futures 1,093 $240,921,110 March 2013 $23,089
5United States Treasury Bond 30-Year Short Futures 44 $6,312,625 March 2013 $123,526
5United States Treasury Note 10-Year Short Futures 150 $19,692,188 March 2013 $(30,806)
5United States Treasury Note 5-Year Short Futures 99 $12,249,703 March 2013 $(7,957)
NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS $107,852
Net Unrealized Appreciation on Futures Contracts is included in “Other Assets and Liabilities—Net.”
1 All or a portion of these securities are temporarily on loan to unaffiliated broker/dealers.
2 Pledged as collateral to ensure the Fund is able to satisfy the obligations of its outstanding futures contracts.
3 The cost of investments for federal tax purposes amounts to $708,854,837.
4 Assets, other than investments in securities, less liabilities. See Statement of Assets and Liabilities.
5 Non-income producing security.
Note: The categories of investments are shown as a percentage of total net assets at January 31, 2013.
Annual Shareholder Report
8
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below:
Level 1— quoted prices in active markets for identical securities, including investment companies with daily net asset values, if applicable.
Level 2— other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.
Level 3— significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used, as of January 31, 2013, in valuing the Fund's assets carried at fair value:
Valuation Inputs
  Level 1—
Quoted
Prices and
Investments in
Mutual Funds 		Level 2—
Other
Significant
Observable
Inputs 		Level 3—
Significant
Unobservable
Inputs 		Total
Debt Securities:        
U.S. Treasury $— $408,947,460 $— $408,947,460
Government Agencies — 55,313,155 — 55,313,155
Mortgage-Backed Securities — 214,880,478 — 214,880,478
Repurchase Agreements — 38,470,000 — 38,470,000
TOTAL SECURITIES $— $717,611,093 $— $717,611,093
OTHER FINANCIAL
INSTRUMENTS* 		$107,852 $— $— $107,852
* Other financial instruments include futures contracts.
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
9
Financial Highlights–Class R Shares
(For a Share Outstanding Throughout Each Period)
Year Ended January 31 2013 2012 2011 2010 2009
Net Asset Value, Beginning of Period $11.69 $11.75 $11.86 $11.96 $11.60
Income From Investment Operations:          
Net investment income 0.031 0.10 0.15 0.22 0.34
Net realized and unrealized gain (loss) on investments and futures contracts (0.10) 0.41 0.14 0.002 0.36
TOTAL FROM INVESTMENT OPERATIONS (0.07) 0.51 0.29 0.22 0.70
Less Distributions:          
Distributions from net investment income (0.04) (0.10) (0.15) (0.22) (0.34)
Distributions from net realized gain on investments and futures contracts (0.15) (0.47) (0.25) (0.10) —
TOTAL DISTRIBUTIONS (0.19) (0.57) (0.40) (0.32) (0.34)
Net Asset Value, End of Period $11.43 $11.69 $11.75 $11.86 $11.96
Total Return3 (0.61)% 4.40% 2.47% 1.79% 6.16%
Ratios to Average Net Assets:          
Net expenses 1.27% 1.27% 1.27% 1.25% 1.24%
Net investment income 0.27% 0.84% 1.24% 1.81% 2.85%
Expense waiver/reimbursement4 0.02% 0.03% 0.03% 0.03% 0.05%
Supplemental Data:          
Net assets, end of period (000 omitted) $22,646 $24,890 $23,400 $23,928 $33,489
Portfolio turnover 187% 153% 159% 235% 57%
1 Per share number has been calculated using the average shares method.
2 Represents less than $0.01.
3 Based on net asset value.
4 This expense decrease is reflected in both the net expense and the net investment income ratios shown above.
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
10
Financial Highlights–Institutional Shares
(For a Share Outstanding Throughout Each Period)
Year Ended January 31 2013 2012 2011 2010 2009
Net Asset Value, Beginning of Period $11.69 $11.75 $11.86 $11.96 $11.60
Income From Investment Operations:          
Net investment income 0.111 0.18 0.23 0.29 0.43
Net realized and unrealized gain (loss) on investments and futures contracts (0.11) 0.41 0.14 0.002 0.35
TOTAL FROM INVESTMENT OPERATIONS 0.00 0.59 0.37 0.29 0.78
Less Distributions:          
Distributions from net investment income (0.11) (0.18) (0.23) (0.29) (0.42)
Distributions from net realized gain on investments and futures contracts (0.15) (0.47) (0.25) (0.10) —
TOTAL DISTRIBUTIONS (0.26) (0.65) (0.48) (0.39) (0.42)
Net Asset Value, End of Period $11.43 $11.69 $11.75 $11.86 $11.96
Total Return3 0.02% 5.12% 3.18% 2.47% 6.92%
Ratios to Average Net Assets:          
Net expenses 0.58% 0.58% 0.58% 0.58% 0.53%
Net investment income 0.96% 1.54% 1.93% 2.45% 3.64%
Expense waiver/reimbursement4 0.09% 0.08% 0.07% 0.05% 0.10%
Supplemental Data:          
Net assets, end of period (000 omitted) $558,704 $628,861 $635,883 $679,536 $788,800
Portfolio turnover 187% 153% 159% 235% 57%
1 Per share number has been calculated using the average shares method.
2 Represents less than $0.01.
3 Based on net asset value.
4 This expense decrease is reflected in both the net expense and the net investment income ratios shown above.
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
11
Financial Highlights–Service Shares
(For a Share Outstanding Throughout Each Period)
Year Ended January 31 2013 2012 2011 2010 2009
Net Asset Value, Beginning of Period $11.69 $11.75 $11.86 $11.96 $11.60
Income From Investment Operations:          
Net investment income 0.081 0.15 0.20 0.27 0.39
Net realized and unrealized gain (loss) on investments and futures contracts (0.11) 0.42 0.14 0.002 0.36
TOTAL FROM INVESTMENT OPERATIONS (0.03) 0.57 0.34 0.27 0.75
Less Distributions:          
Distributions from net investment income (0.08) (0.16) (0.20) (0.27) (0.39)
Distributions from net realized gain on investments and futures contracts (0.15) (0.47) (0.25) (0.10) —
TOTAL DISTRIBUTIONS (0.23) (0.63) 0.45 (0.37) (0.39)
Net Asset Value, End of Period $11.43 $11.69 $11.75 $11.86 $11.96
Total Return3 (0.21)% 4.88% 2.94% 2.25% 6.64%
Ratios to Average Net Assets:          
Net expenses 0.81% 0.81% 0.81% 0.81% 0.78%
Net investment income 0.73% 1.29% 1.71% 2.20% 3.38%
Expense waiver/reimbursement4 0.04% 0.03% 0.04% 0.08% 0.13%
Supplemental Data:          
Net assets, end of period (000 omitted) $103,042 $136,237 $119,034 $133,165 $114,239
Portfolio turnover 187% 153% 159% 235% 57%
1 Per share number has been calculated using the average shares method.
2 Represents less than $0.01.
3 Based on net asset value.
4 This expense decrease is reflected in both the net expense and the net investment income ratios shown above.
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
12
Statement of Assets and Liabilities
January 31, 2013
Assets:    
Total investment in securities, at value including $32,433,115 of securities loaned (identified cost $708,819,680)   $717,611,093
Cash   529
Income receivable   1,657,240
Receivable for investments sold   47,981,171
Receivable for shares sold   412,115
Receivable for daily variation margin   15,431
TOTAL ASSETS   767,677,579
Liabilities:    
Payable for investments purchased $47,620,272  
Payable for shares redeemed 2,045,742  
Payable for collateral due to broker for securities lending 33,324,000  
Income distribution payable 50,126  
Payable to adviser (Note 5) 3,581  
Payable for distribution services fee (Note 5) 9,353  
Payable for shareholder services fee (Note 5) 58,211  
Accrued expenses 174,508  
TOTAL LIABILITIES   83,285,793
Net assets for 59,875,343 shares outstanding   $684,391,786
Net Assets Consist of:    
Paid-in capital   $678,227,176
Net unrealized appreciation of investments and futures contracts   8,899,265
Accumulated net realized loss on investments and futures contracts   (2,905,717)
Undistributed net investment income   171,062
TOTAL NET ASSETS   $684,391,786
Net Asset Value, Offering Price and Redemption Proceeds Per Share    
Class R Shares:    
$22,646,471 ÷ 1,981,675 shares outstanding, no par value, unlimited shares authorized   $11.43
Institutional Shares:    
$558,703,753 ÷ 48,878,742 shares outstanding, no par value, unlimited shares authorized   $11.43
Service Shares:    
$103,041,562 ÷ 9,014,926 shares outstanding, no par value, unlimited shares authorized   $11.43
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
13
Statement of Operations
Year Ended January 31, 2013
Investment Income:      
Interest (including income on securities loaned of $40,691)     $11,765,162
Expenses:      
Investment adviser fee (Note 5)   $3,040,502  
Administrative fee (Note 5)   593,082  
Custodian fees   36,223  
Transfer and dividend disbursing agent fees and expenses (Note 2)   650,180  
Directors'/Trustees' fees   9,769  
Auditing fees   24,450  
Legal fees   8,842  
Portfolio accounting fees   131,367  
Distribution services fee (Note 5)   121,808  
Shareholder services fee (Note 5)   727,293  
Account administration fee (Note 2)   24,971  
Share registration costs   78,788  
Printing and postage   37,136  
Insurance premiums   4,403  
Miscellaneous   17,872  
TOTAL EXPENSES   5,506,686  
Waivers and Reimbursements:      
Waiver of administrative fee (Note 5) $(8,557)    
Waiver of distribution services fee (Note 5) (5,488)    
Reimbursement of shareholder services fee (Note 5) (279,695)    
Reimbursement of transfer and dividend disbursing agent fees and expenses (Note 2 and Note 5) (328,254)    
TOTAL WAIVERS AND REIMBURSEMENTS   (621,994)  
Net expenses     4,884,692
Net investment income     6,880,470
Realized and Unrealized Gain (Loss) on Investments and Futures Contracts:      
Net realized gain on investments     12,588,211
Net realized loss on futures contracts     (144,079)
Net change in unrealized appreciation of investments     (20,032,838)
Net change in unrealized depreciation of futures contracts     441,455
Net realized and unrealized loss on investments and futures contracts     (7,147,251)
Change in net assets resulting from operations     $(266,781)
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
14
Statement of Changes in Net Assets
Year Ended January 31 2013 2012
Increase (Decrease) in Net Assets    
Operations:    
Net investment income $6,880,470 $11,018,827
Net realized gain on investments and futures contracts 12,444,132 22,480,994
Net change in unrealized appreciation/depreciation of investments and futures contracts (19,591,383) 3,168,046
CHANGE IN NET ASSETS RESULTING FROM OPERATIONS (266,781) 36,667,867
Distributions to Shareholders:    
Distributions from net investment income    
Class R Shares (73,475) (200,848)
Institutional Shares (5,797,993) (9,446,399)
Service Shares (828,583) (1,558,573)
Distributions from net realized gain on investments and futures contracts    
Class R Shares (320,524) (942,722)
Institutional Shares (8,181,486) (23,483,252)
Service Shares (1,507,689) (5,052,486)
CHANGE IN NET ASSETS RESULTING FROM DISTRIBUTIONS TO SHAREHOLDERS (16,709,750) (40,684,280)
Share Transactions:    
Proceeds from sale of shares 228,267,014 309,196,245
Net asset value of shares issued to shareholders in payment of distributions declared 14,731,576 34,352,963
Cost of shares redeemed (331,618,025) (327,861,676)
CHANGE IN NET ASSETS RESULTING FROM SHARE TRANSACTIONS (88,619,435) 15,687,532
Change in net assets (105,595,966) 11,671,119
Net Assets:    
Beginning of period 789,987,752 778,316,633
End of period (including undistributed (distributions in excess of) net investment income of $171,062 and $(79,557), respectively) $684,391,786 $789,987,752
See Notes which are an integral part of the Financial Statements
Annual Shareholder Report
15
Notes to Financial Statements
January 31, 2013
1. ORGANIZATION
Federated U.S. Government Securities Fund: 2-5 Years (the “Fund”) is registered under the Investment Company Act of 1940, as amended (the “Act”), as a diversified, open-end management investment company. The Fund offers three classes of shares: Class R Shares, Institutional Shares and Service Shares. All shares of the Fund have equal rights with respect to voting, except on class-specific matters. The Fund's investment objective is to provide current income.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. These policies are in conformity with U.S. generally accepted accounting principles (GAAP).
Investment Valuation
In calculating its net asset value (NAV), the Fund generally values investments as follows:
■  Fixed-income securities acquired with remaining maturities greater than 60 days are fair valued using price evaluations provided by a pricing service approved by the Fund's Board of Trustees (the “ Trustees”).
■  Fixed-income securities acquired with remaining maturities of 60 days or less are valued at their cost (adjusted for the accretion of any discount or amortization of any premium), which approximates market value.
■  Derivative contracts listed on exchanges are valued at their reported settlement or closing price.
■  Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■  Shares of other mutual funds are valued based upon their reported NAVs.
■  For securities that are fair valued in accordance with procedures established by and under the general supervision of the Trustees, certain factors may be considered such as: the purchase price of the security, information obtained by contacting the issuer, analysis of the issuer's financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded and public trading in similar securities of the issuer or comparable issuers.
If the Fund cannot obtain a price or price evaluation from a pricing service for an investment, the Fund may attempt to value the investment based upon the mean of bid and asked quotations or fair value the investment based on price evaluations, from one or more dealers. If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could purchase or sell an investment at the price used to calculate the Fund's NAV.
Fair Valuation and Significant Events Procedures
The Trustees have appointed a Valuation Committee comprised of officers of the Fund, Federated Investment Management Company (“Adviser”) and the Adviser's affiliated companies to determine fair value of securities and in overseeing the calculation of the NAV. The Trustees have also authorized the use of pricing services recommended by the Valuation
Annual Shareholder Report
16
Committee to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing service evaluations including periodic reviews of third-party pricing services' policies, procedures and valuation methods (including key inputs and assumptions), transactional back-testing, comparisons of evaluations of different pricing services and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Trustees. The Trustees periodically review and approve the fair valuations made by the Valuation Committee and any changes made to the procedures.
Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a “bid” evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and asked for the investment (a “mid” evaluation). The Fund normally uses bid evaluations for U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for other types of fixed-income securities and OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Trustees.
Repurchase Agreements
The Fund may invest in repurchase agreements for short-term liquidity purposes. It is the policy of the Fund to require the other party to a repurchase agreement to transfer to the Fund's custodian or sub-custodian eligible securities or cash with a market value (after transaction costs) at least equal to the repurchase price to be paid under the repurchase agreement. The eligible securities are transferred to accounts with the custodian or sub-custodian in which the Fund holds a “securities entitlement” and exercises “control” as those terms are defined in the Uniform Commercial Code. The Fund has established procedures for monitoring the market value of the transferred securities and requiring the transfer of additional eligible securities if necessary to equal at least the repurchase price. These procedures also allow the other party to require securities to be transferred from the account to the extent that their market value exceeds the repurchase price or in exchange for other eligible securities of equivalent market value.
The insolvency of the other party or other failure to repurchase the securities may delay the disposition of the underlying securities or cause the Fund to receive less than the full repurchase price. Under the terms of the repurchase agreement, any amounts received by the Fund in excess of the repurchase price and related transaction costs must be remitted to the other party.
The Fund may enter into repurchase agreements in which eligible securities are transferred into joint trading accounts maintained by the custodian or sub-custodian for investment companies and other clients advised by the Fund's Adviser and its affiliates. The Fund will participate on a pro rata basis with the other investment companies and clients in its share of the securities transferred under such repurchase agreements and in its share of proceeds from any repurchase or other disposition of such securities.
Annual Shareholder Report
17
Investment Income, Gains and Losses, Expenses and Distributions
Investment transactions are accounted for on a trade-date basis. Realized gains and losses from investment transactions are recorded on an identified-cost basis. Interest income and expenses are accrued daily. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Positive or negative inflation adjustments on Treasury Inflation-Protected Securities (TIPS) are included in interest income. Distributions of net investment income are declared daily and paid monthly. Non-cash dividends included in dividend income, if any, are recorded at fair value. Investment income, realized and unrealized gains and losses, and certain fund-level expenses are allocated to each class based on relative average daily net assets, except that Class R Shares, Institutional Shares and Service Shares may bear distribution services fees, shareholder services fees, account administration fees and certain transfer and dividend disbursing agent fees unique to those classes. For the year ended January 31, 2013, transfer and dividend disbursing agent fees and account administration fees for the Fund were as follows:
  Transfer and
Dividend
Disbursing
Agent Fees
Incurred 		Transfer and
Dividend
Disbursing
Agent Fees
Reimbursed 		Account
Administration
Fees Incurred
Class R Shares $66,867 $— $—
Institutional Shares 479,810 (328,254) 10,429
Service Shares 103,503 — 14,542
TOTAL $650,180 $(328,254) $24,971
Dividends are declared separately for each class. No class has preferential dividend rights; differences in per share dividend rates are generally due to differences in separate class expenses.
Premium and Discount Amortization
All premiums and discounts are amortized/accreted using the effective interest rate method.
Federal Taxes
It is the Fund's policy to comply with the Subchapter M provision of the Internal Revenue Code and to distribute to shareholders each year substantially all of its income. Accordingly, no provision for federal income tax is necessary. As of and during the year ended January 31, 2013, the Fund did not have a liability for any uncertain tax positions. The Fund recognizes interest and penalties, if any, related to tax liabilities as income tax expense in the Statement of Operations. As of January 31, 2013, tax years 2010 through 2013 remain subject to examination by the Fund's major tax jurisdictions, which include the United States of America and the Commonwealth of Massachusetts.
When-Issued and Delayed Delivery Transactions
The Fund may engage in when-issued or delayed delivery transactions. The Fund records when-issued securities on the trade date and maintains security positions such that sufficient liquid assets will be available to make payment for the securities purchased. Securities purchased on a when-issued or delayed delivery basis are marked to market daily and begin earning interest on the settlement date. Losses may occur on these transactions due to changes in market conditions or the failure of counterparties to perform under the contract.
Annual Shareholder Report
18
Futures Contracts
The Fund purchases and sells futures contracts to manage cash flows, enhance yield and to potentially reduce transaction costs. Upon entering into a financial futures contract with a broker, the Fund is required to deposit in a segregated account a specified amount of cash or U.S. government securities. Futures contracts are valued daily and unrealized gains or losses are recorded in a “variation margin” account. Daily, the Fund receives from or pays to the broker a specified amount of cash based upon changes in the variation margin account. When a contract is closed, the Fund recognizes a realized gain or loss. Futures contracts have market risks, including the risk that the change in the value of the contract may not correlate with the changes in the value of the underlying securities. There is minimal counterparty risk to the Fund since futures are exchange traded and the exchange's clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
Futures contracts outstanding at period end are listed after the Fund's Portfolio of Investments.
The average notional value of long and short futures contracts held by the Fund throughout the period was $284,052,251 and $58,574,619, respectively. This is based on amounts held as of each month-end throughout the fiscal period.
Securities Lending
The Fund participates in a securities lending program providing for the lending of government securities to qualified brokers. The Fund normally receives cash collateral for securities loaned that is invested in an affiliated money market fund or in short-term securities including repurchase agreements. Collateral is maintained at a minimum level of 100% of the market value of investments loaned, plus interest, if applicable. Earnings on collateral are allocated between the borrower of the security, the securities lending agent, as a fee for its services under the program, and the Fund, according to agreed-upon rates.
As of January 31, 2013, securities subject to this type of arrangement and related collateral were as follows:
Market Value of
Securities Loaned 		Market Value
of Collateral
$32,433,115 $33,324,000
Additional Disclosure Related to Derivative Instruments
Fair Value of Derivative Instruments
  Asset
  Statement of
Assets and
Liabilities
Location 		Fair
Value
Derivatives not accounted for as hedging instruments under ASC Topic 815    
Interest rate contracts Receivable
for daily
variation margin 		$107,852*
* Includes cumulative appreciation of futures contracts as reported in the footnotes to the Portfolio of
Annual Shareholder Report
19
  Investments. Only the current day's variation margin is reported within the Statement of Assets and Liabilities.
The Effect of Derivative Instruments on the Statement of Operations for the Year Ended January 31, 2013
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income
  Futures
Interest rate contracts $(144,079)
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income
  Futures
Interest rate contracts $441,455
Other
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets, liabilities, expenses and revenues reported in the financial statements. Actual results could differ from those estimated.
3. SHARES OF BENEFICIAL INTEREST
The following tables summarize share activity:
Year Ended January 31 2013 2012
Class R Shares: Shares Amount Shares Amount
Shares sold 807,170 $9,354,563 968,069 $11,479,630
Shares issued to shareholders in payment of distributions declared 30,850 355,762 89,474 1,044,971
Shares redeemed (984,816) (11,398,836) (920,749) (10,896,560)
NET CHANGE RESULTING FROM CLASS R SHARE TRANSACTIONS (146,796) $(1,688.511) 136,794 $1,628,041
Year Ended January 31 2013 2012
Institutional Shares: Shares Amount Shares Amount
Shares sold 15,487,040 $179,635,395 19,521,882 $231,388,993
Shares issued to shareholders in payment of distributions declared 1,063,320 12,276,586 2,351,294 27,506,852
Shares redeemed (21,451,062) (248,245,113) (22,217,154) (263,169,311)
NET CHANGE RESULTING FROM INSTITUTIONAL SHARE TRANSACTIONS (4,900,702) $(56,333,132) (343,978) $(4,273,466)
Annual Shareholder Report
20
Year Ended January 31 2013 2012
Service Shares: Shares Amount Shares Amount
Shares sold 3,389,928 $39,277,056 5,582,141 $66,327,622
Shares issued to shareholders in payment of distributions declared 181,894 2,099,228 496,350 5,801,140
Shares redeemed (6,207,513) (71,974,076) (4,559,653) (53,795,805)
NET CHANGE RESULTING FROM SERVICE SHARE TRANSACTIONS (2,635,691) $(30,597,792) 1,518,838 $18,332,957
NET CHANGE RESULTING FROM TOTAL FUND SHARE TRANSACTIONS (7,683,189) $(88,619,435) 1,311,654 $15,687,532
4. FEDERAL TAX INFORMATION
The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. These differences are due to differing treatments for TIP deflation adjustments.
Annual Shareholder Report
21
For the year ended January 31, 2013, permanent differences identified and reclassified among the components of net assets were as follows:
Increase (Decrease)
Undistributed
Net Investment
Income (Loss) 		Accumulated
Net Realized
Gain (Loss)
$70,200 $(70,200)
Net investment income (loss), net realized gains (losses), and net assets were not affected by this reclassification.
The tax character of distributions as reported on the Statement of Changes in Net Assets for the years ended January 31, 2013 and 2012, was as follows:
  2013 2012
Ordinary income1 $14,269,633 $15,623,928
Long-term capital gains $2,440,117 $25,060,352
1 For tax purposes, short-term capital gain distributions are considered ordinary income distributions.
 
As of January 31, 2013, the components of distributable earnings on a tax basis were as follows:
Undistributed ordinary income2 $995,784
Undistributed long-term capital gain $4,349,480
Net unrealized appreciation $8,756,256
Capital loss deferrals $(7,936,910)
2 For tax purposes, short-term capital gains are considered ordinary income in determining distributable earnings.
 
The difference between book-basis and tax-basis net unrealized appreciation/depreciation is attributable to differing treatments for the deferral of losses on wash sales.
At January 31, 2013, the cost of investments for federal tax purposes was $708,854,837. The net unrealized appreciation of investments for federal tax purposes excluding any unrealized appreciation resulting from futures contracts was $8,756,256. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $10,884,335 and net unrealized depreciation from investments for those securities having an excess of cost over value of $2,128,079.
At January 31, 2013, for federal income tax purposes, the Fund had $7,936,910 in straddle loss deferrals.
Annual Shareholder Report
22
5. INVESTMENT ADVISER FEE AND OTHER TRANSACTIONS WITH AFFILIATES
Investment Adviser Fee
The advisory agreement between the Fund and the Adviser provides for an annual fee equal to 0.40% of the Fund's average daily net assets. Subject to the terms described in the Expense Limitation note, the Adviser may voluntarily choose to waive any portion of its fee and/or reimburse certain operating expenses of the Fund. For the six months ended January 31, 2013, the Adviser reimbursed $328,254 of transfer and dividend disbursing agent fees and expenses.
Administrative Fee
Federated Administrative Services (FAS), under the Administrative Services Agreement, provides the Fund with administrative personnel and services. The fee paid to FAS is based on the average aggregate daily net assets of certain Federated funds as specified below, plus certain out-of-pocket expenses:
Administrative Fee Average Aggregate Daily Net Assets
of the Federated Funds
0.150% on the first $5 billion
0.125% on the next $5 billion
0.100% on the next $10 billion
0.075% on assets in excess of $20 billion
Prior to September 1, 2012, the administrative fee received during any fiscal year was at least $150,000 per portfolio and $40,000 per each additional class of Shares. Subject to the terms described in the Expense Limitation note, FAS may voluntarily choose to waive any portion of its fee. For the year ended January 31, 2013, FAS waived $8,557 of its fee. The net fee paid to FAS was 0.077% of average daily net assets of the Fund.
Distribution Services Fee
The Fund has adopted a Distribution Plan (the “Plan”) pursuant to Rule 12b-1 under the Act. Under the terms of the Plan, the Fund will compensate Federated Securities Corp. (FSC), the principal distributor, from the daily net assets of the Fund's Class R Shares and Service Shares to finance activities intended to result in the sale of these shares. The Plan provides that the Fund may incur distribution expenses at the following percentages of average daily net assets annually, to compensate FSC:
Share Class Name Percentage of Average Daily
Net Assets of Class
Class R Shares 0.50%
Service Shares 0.05%
Subject to the terms described in the Expense Limitation note, FSC may voluntarily choose to waive any portion of its fee. For the year ended January 31, 2013, distribution services fees for the Fund were as follows:
  Distribution Services
Fees Incurred 		Distribution Services
Fees Waived
Class R Shares $121,808 $(5,488)
Annual Shareholder Report
23
When FSC receives fees, it may pay some or all of them to financial intermediaries whose customers purchase shares. For the year ended January 31, 2013, FSC did not retain any fees paid by the Fund. For the year ended January 31, 2013, the Fund's Service Shares did not incur a distribution services fee; however, it may begin to incur this fee upon approval of the Trustees.
Shareholder Services Fee
The Fund may pay fees (“ Service Fees”) up to 0.25% of the average daily net assets of the Fund's Institutional Shares and Service Shares to financial intermediaries or to Federated Shareholder Services Company (FSSC) for providing services to shareholders and maintaining shareholder accounts. Subject to the terms described in the Expense Limitation note, FSSC may voluntarily reimburse the Fund for Service Fees. For the year ended January 31, 2013, Service Fees for the Fund were as follows:
  Service
Fees
Incurred 		Service
Fees
Reimbursed
Institutional Shares $451,834 $(230,398)
Service Shares 275,459 (49,297)
TOTAL $727,293 $(279,695)
For the year ended January 31, 2013, FSSC did not receive any fees paid by the Fund.
Expense Limitation
Effective April 1, 2013, the Adviser and its affiliates (which may include FSC, FAS and FSSC) have voluntarily agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses (as shown in the financial highlights) paid by the Fund's Class R Shares, Institutional Shares and Service Shares (after the voluntary waivers and/or reimbursements) will not exceed 1.22%, 0.58% and 0.81% (the “Fee Limit”), respectively, up to but not including the later of (the “Termination Date”): (a) April 1, 2014; or (b) the date of the Fund's next effective Prospectus. While the Adviser and its affiliates currently do not anticipate terminating or increasing these arrangements prior to the Termination Date, these arrangements may only be terminated or the Fee Limit increased prior to the Termination Date with the agreement of the Trustees.
General
Certain Officers and Trustees of the Fund are Officers and Directors or Trustees of the above companies.
6. LINE OF CREDIT
The Fund participates in a $100,000,000 unsecured, uncommitted revolving line of credit (LOC) agreement with PNC Bank. The LOC was made available for extraordinary or emergency purposes, primarily for financing redemption payments. Borrowings are charged interest at a rate offered to the Fund by PNC Bank at the time of the borrowing. As of January 31, 2013, there were no outstanding loans. During the year ended January 31, 2013, the Fund did not utilize the LOC.
Annual Shareholder Report
24
7. INTERFUND LENDING
Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the Fund, along with other funds advised by subsidiaries of Federated Investors, Inc., may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from other participating affiliated funds. As of January 31, 2013, there were no outstanding loans. During the year ended January 31, 2013, the program was not utilized.
8. FEDERAL TAX INFORMATION (UNAUDITED)
For the year ended January 31, 2013, the amount of long-term capital gains designated by the Fund was $2,440,117.
Annual Shareholder Report
25
Report of Independent Registered Public
Accounting Firm
TO THE BOARD OF TRUSTEES AND SHAREHOLDERS OF federated U.S. GOVERNMENT SECURITIES FUND: 2-5 YEARS:
We have audited the accompanying statement of assets and liabilities of Federated U.S. Government Securities Fund: 2-5 Years (the “Fund”), including the portfolio of investments, as of January 31, 2013, and the related statement of operations for the year then ended, the statement of changes in net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Fund's internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of January 31, 2013, by correspondence with the custodian and others or by appropriate auditing procedures where replies from others were not received. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Federated U.S. Government Securities Fund: 2-5 Years at January 31, 2013, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.
Boston, Massachusetts
March 25, 2013
Annual Shareholder Report
26
Shareholder Expense Example (unaudited)
As a shareholder of the Fund, you incur ongoing costs, including management fees and to the extent applicable, distribution (12b-1) fees and/or shareholder services fees and other Fund expenses. This Example is intended to help you to understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from August 1, 2012 to January 31, 2013.
ACTUAL EXPENSES
The first section of the table below provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you incurred over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During Period” to estimate the expenses attributable to your investment during this period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second section of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are required to be provided to enable you to compare the ongoing costs of investing in the Fund with other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Annual Shareholder Report
27
Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds.
  Beginning
Account Value
8/1/2012 		Ending
Account Value
1/31/2013 		Expenses Paid
During Period1
Actual:      
Class R Shares $1,000 $994.40 $6.37
Institutional Shares $1,000 $997.70 $2.91
Service Shares $1,000 $996.50 $4.07
Hypothetical (assuming a 5% return
before expenses): 		     
Class R Shares $1,000 $1,018.75 $6.44
Institutional Shares $1,000 $1,022.22 $2.95
Service Shares $1,000 $1,021.06 $4.12
1 Expenses are equal to the Fund's annualized net expense ratios, multiplied by the average account value over the period, multiplied by 184/366 (to reflect the one-half-year period). The annualized net expense ratios are as follows:
Class R Shares 1.27%
Institutional Shares 0.58%
Service Shares 0.81%
Annual Shareholder Report
28
Board of Trustees and Trust Officers
The Board of Trustees is responsible for managing the Trust's business affairs and for exercising all the Trust's powers except those reserved for the shareholders. The following tables give information about each and the senior officers of the Fund. Where required, the tables separately list Trustees who are “interested persons” of the Fund (i.e., “Interested” Trustees) and those who are not (i.e., “Independent” Trustees). Unless otherwise noted, the address of each person listed is Federated Investors Tower, 1001 Liberty Avenue, Pittsburgh, PA 15222. The address of all Independent Trustees listed is 4000 Ericsson Drive, Warrendale, PA 15086-7561; Attention: Mutual Fund Board. As of December 31, 2012, the Trust comprised one portfolio(s), and the Federated Fund Family consisted of 42 investment companies (comprising 137 portfolios). Unless otherwise noted, each Officer is elected annually. Unless otherwise noted, each oversees all portfolios in the Federated Fund Family and serves for an indefinite term. The Fund's Statement of Additional Information includes additional information about Trust Trustees and is available, without charge and upon request, by calling 1-800-341-7400.
Interested Trustees Background
Name
Birth Date
Positions Held with Fund
Date Service Began 		Principal Occupation(s) for Past Five Years,
Other Directorships Held and Previous Position(s)
John F. Donahue*
Birth Date: July 28, 1924
Began serving: December 1981 		Principal Occupations: Director or Trustee of the Federated Fund Family; Chairman and Director, Federated Investors, Inc.; Chairman of the Federated Fund Family's Executive Committee.
Previous Positions: Chairman of the Federated Fund Family; Trustee, Federated Investment Management Company; Chairman and Director, Federated Investment Counseling.
* Reasons for “interested” status: John F. Donahue is “interested” due to his positions with, and beneficial ownership of shares of, Federated Investors, Inc.
Annual Shareholder Report
29
INDEPENDENT Trustees Background
Name
Birth Date
Positions Held with Fund
Date Service Began 		Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
John F. Cunningham
Birth Date: March 5, 1943
Began serving: January 1999 		Principal Occupation: Director or Trustee of the Federated Fund Family.
Other Directorships Held: Chairman, President and Chief Executive Officer, Cunningham & Co., Inc. (strategic business consulting); Trustee Associate, Boston College.
Previous Positions: President and Chief Operating Officer, Wang Laboratories; Chairman of the Board and Chief Executive Officer, Computer Consoles, Inc.; Director, First National Bank of Boston; Director, EMC Corporation (computer storage systems); Director, Apollo Computer, Inc.; Director, Redgate Communications.
Qualifications: Business management and director experience.
Peter E. Madden
Birth Date: March 16, 1942
Began serving: August 1991 		Principal Occupation: Director or Trustee, and Chairman of the Board of Directors or Trustees, of the Federated Fund Family.
Previous Positions: Representative, Commonwealth of Massachusetts General Court; President, Chief Operating Officer and Director, State Street Bank and Trust Company and State Street Corporation (retired); Director, VISA USA and VISA International; Chairman and Director, Massachusetts Bankers Association; Director, Depository Trust Corporation; Director, The Boston Stock Exchange.
Qualifications: Business management, mutual fund services and director experience.
Charles F. Mansfield, Jr.
Birth Date: April 10, 1945
Began serving: January 1999 		Principal Occupations: Director or Trustee of the Federated Fund Family; Management Consultant.
Previous Positions: Chief Executive Officer, PBTC International Bank; Partner, Arthur Young & Company (now Ernst & Young LLP); Chief Financial Officer of Retail Banking Sector, Chase Manhattan Bank; Senior Vice President, HSBC Bank USA (formerly Marine Midland Bank); Vice President, Citibank; Assistant Professor of Banking and Finance, Frank G. Zarb School of Business, Hofstra University; Executive Vice President, DVC Group, Inc. (marketing, communications and technology).
Qualifications: Banking, business management, education and director experience.
Annual Shareholder Report
30
Name
Birth Date
Positions Held with Fund
Date Service Began 		Principal Occupation(s) for Past Five Years,
Other Directorships Held, Previous Position(s) and Qualifications
Thomas M. O'Neill
Birth Date: June 14, 1951
Began serving: October 2006 		Principal Occupations: Director or Trustee, Vice Chairman of the Audit Committee of the Federated Fund Family; Sole Proprietor, Navigator Management Company (investment and strategic consulting).
Other Directorships Held: Board of Overseers, Children's Hospital of Boston; Visiting Committee on Athletics, Harvard College; Board of Directors, Medicines for Humanity; Board of Directors, The Golisano Children's Museum of Naples, Florida.
Previous Positions: Chief Executive Officer and President, Managing Director and Chief Investment Officer, Fleet Investment Advisors; President and Chief Executive Officer, Aeltus Investment Management, Inc.; General Partner, Hellman, Jordan Management Co., Boston, MA; Chief Investment Officer, The Putnam Companies, Boston, MA; Credit Analyst and Lending Officer, Fleet Bank; Director and Consultant, EZE Castle Software (investment order management software); Director, Midway Pacific (lumber).
Qualifications: Business management, mutual fund, director and investment experience.
John S. Walsh
Birth Date: November 28, 1957
Began serving: January 1999 		Principal Occupations: Director or Trustee, Chairman of the Audit Committee of the Federated Fund Family; President and Director, Heat Wagon, Inc. (manufacturer of construction temporary heaters); President and Director, Manufacturers Products, Inc. (distributor of portable construction heaters); President, Portable Heater Parts, a division of Manufacturers Products, Inc.
Previous Position: Vice President, Walsh & Kelly, Inc.
Qualifications: Business management and director experience.
Annual Shareholder Report
31
OFFICERS
Name
Birth Date
Address
Positions Held with Fund
Date Service Began 		Principal Occupation(s) for Past Five Years
and Previous Position(s)
J. Christopher Donahue
Birth Date: April 11, 1949
President
Began serving: August 2000 		Principal Occupations: Principal Executive Officer and President of the Federated Fund Family; Director or Trustee of some of the Funds in the Federated Fund Family; President, Chief Executive Officer and Director, Federated Investors, Inc.; Chairman and Trustee, Federated Investment Management Company; Trustee, Federated Investment Counseling; Chairman and Director, Federated Global Investment Management Corp.; Chairman, Federated Equity Management Company of Pennsylvania and Passport Research, Ltd. (investment advisory subsidiary of Federated); Trustee, Federated Shareholder Services Company; Director, Federated Services Company.
Previous Positions: President, Federated Investment Counseling; President and Chief Executive Officer, Federated Investment Management Company, Federated Global Investment Management Corp. and Passport Research, Ltd.
John W. McGonigle
Birth Date: October 26, 1938
EXECUTIVE VICE PRESIDENT AND SECRETARY
Officer since: June 1995 		Principal Occupations: Executive Vice President and Secretary of the Federated Fund Family; Vice Chairman, Executive Vice President, Secretary and Director, Federated Investors, Inc.
Previous Positions: Trustee, Federated Investment Management Company and Federated Investment Counseling; Director, Federated Global Investment Management Corp., Federated Services Company and Federated Securities Corp.
Richard A. Novak
Birth Date: December 25, 1963
Treasurer
Officer since: January 2006 		Principal Occupations: Principal Financial Officer and Treasurer of the Federated Fund Family; Senior Vice President, Federated Administrative Services; Financial and Operations Principal for Federated Securities Corp., Edgewood Services, Inc. and Southpointe Distribution Services, Inc.
Previous Positions: Controller of Federated Investors, Inc.; Vice President, Finance of Federated Services Company; held various financial management positions within The Mercy Hospital of Pittsburgh; Auditor, Arthur Andersen & Co.
Peter J. Germain
Birth Date: September 3, 1959
CHIEF LEGAL OFFICER
Officer since: January 2005 		Principal Occupations: Mr. Germain is Chief Legal Officer of the Federated Fund Family. He is General Counsel and Vice President, Federated Investors, Inc.; President, Federated Administrative Services and Federated Administrative Services, Inc.; Vice President, Federated Securities Corp.; Secretary, Federated Private Asset Management, Inc.; and Secretary, Retirement Plan Service Company of America. Mr. Germain joined Federated in 1984 and is a member of the Pennsylvania Bar Association.
Previous Positions: Deputy General Counsel, Special Counsel, Managing Director of Mutual Fund Services, Federated Investors, Inc.; Senior Vice President, Federated Services Company; and Senior Corporate Counsel, Federated Investors, Inc.
Annual Shareholder Report
32
Name
Birth Date
Address
Positions Held with Fund
Date Service Began 		Principal Occupation(s) for Past Five Years
and Previous Position(s)
Richard B. Fisher
Birth Date: May 17, 1923
Vice President
Officer since: December 1981 		Principal Occupations: Vice Chairman or Vice President of some of the Funds in the Federated Fund Family; Vice Chairman, Federated Investors, Inc.; Chairman, Federated Securities Corp.
Previous Positions: President and Director or Trustee of some of the Funds in the Federated Fund Family; Executive Vice President, Federated Investors, Inc.; Director and Chief Executive Officer, Federated Securities Corp.
Brian P. Bouda
Birth Date: February 28, 1947
CHIEF COMPLIANCE OFFICER AND SENIOR VICE PRESIDENT
Officer since: August 2004 		Principal Occupations: Senior Vice President and Chief Compliance Officer of the Federated Fund Family; Vice President and Chief Compliance Officer of Federated Investors, Inc. and Chief Compliance Officer of its subsidiaries. Mr. Bouda joined Federated in 1999 and is a member of the American Bar Association and the State Bar Association of Wisconsin.
Previous Positions: Served in Senior Management positions with a large regional banking organization.
Robert J. Ostrowski
Birth Date: April 26, 1963
Chief Investment Officer
Officer since: May 2004 		Principal Occupations: Robert J. Ostrowski joined Federated in 1987 as an Investment Analyst and became a Portfolio Manager in 1990. He was named Chief Investment Officer of taxable fixed-income products in 2004 and also serves as a Senior Portfolio Manager. Mr. Ostrowski became an Executive Vice President of the Fund's Adviser in 2009 and served as a Senior Vice President of the Fund's Adviser from 1997 to 2009. Mr. Ostrowski has received the Chartered Financial Analyst designation. He received his M.S. in Industrial Administration from Carnegie Mellon University.
Donald T. Ellenberger
Birth Date: July 24, 1958
VICE PRESIDENT
Officer since: June 2005
Portfolio Manager since: August 2005 		Principal Occupations: Donald T. Ellenberger has been the Fund's Portfolio Manager since August 2005. He is Vice President of the Trust with respect to the Fund. He joined Federated in 1996 as a Portfolio Manager and a Vice President of a Federated advisory subsidiary. He became a Senior Vice President of the Fund's Adviser in January 2005 and served as a Vice President of the Fund's Adviser from 1997 through 2004. From 1986 to 1996, he served as a Trader/Portfolio Manager for Mellon Bank, N.A. Mr. Ellenberger received his M.B.A. in Finance from Stanford University.
Annual Shareholder Report
33
Evaluation and Approval of Advisory
Contract–May 2012
Federated U.S. Government Securities Fund:2-5 Years (the “Fund”)
Following a review and recommendation of approval by the Fund's independent trustees, the Fund's Board reviewed and approved at its May 2012 meetings the Fund's investment advisory contract for an additional one-year term. The Board's decision regarding the contract reflects the exercise of its business judgment on whether to continue the existing arrangements.
In this connection, the Federated Funds' Board had previously appointed a Senior Officer, whose duties include specified responsibilities relating to the process by which advisory fees are to be charged to a Federated fund. The Senior Officer has the authority to retain consultants, experts, or staff as may be reasonably necessary to assist in the performance of his duties, reports directly to the Board, and may be terminated only with the approval of a majority of the independent members of the Board. The Senior Officer prepared and furnished to the Board an independent, written evaluation that covered topics discussed below (the “Evaluation”). The Board considered that Evaluation, along with other information, in deciding to approve the advisory contract.
The Board is also familiar with and considered judicial decisions concerning allegedly excessive investment advisory fees, which have indicated that the following factors may be relevant to an Adviser's fiduciary duty with respect to its receipt of compensation from a fund: the nature and quality of the services provided by the Adviser to a fund and its shareholders, including the performance and expenses of the fund and of comparable funds; the Adviser's cost of providing the services, including the profitability to the Adviser of providing advisory services to a fund; the extent to which the Adviser may realize “economies of scale” as a fund grows larger and, if such economies exist, whether they have been shared with a fund and its shareholders; any “fall-out financial benefits” that accrue to the Adviser because of its relationship with a fund (including research services received from brokers that execute fund trades and any fees paid to affiliates of the Adviser for services rendered to a fund); comparative fee structures, including a comparison of fees paid to the Adviser with those paid by similar funds; and the extent to which the Board members are fully informed about all facts the Board deems relevant to its consideration of the Adviser's services and fees. Consistent with these judicial decisions, the Board also considered management fees (including any components thereof) charged to institutional and other clients of the Adviser for what might be viewed as like services. The Board was aware of these factors and was guided by them in its review of the Fund's advisory contract to the extent it considered them to be appropriate and relevant, as discussed further below.
Annual Shareholder Report
34
The Board considered and weighed these circumstances in light of its substantial accumulated experience in governing the Fund and working with Federated on matters relating to the Federated funds, and was assisted in its deliberations by independent legal counsel. Throughout the year, and in connection with its May meetings, the Board requested and received substantial and detailed information about the Fund and the Federated organization that was in addition to the extensive materials that comprise and accompany the Senior Officer's Evaluation. Federated provided much of this information at each regular meeting of the Board, and furnished additional substantial information in connection with the May meeting at which the Board's formal review of the advisory contract occurred. At this May meeting, senior management of the Adviser also met with the independent trustees and their counsel to discuss the materials presented and any other matters thought relevant by the Adviser or the trustees. Between regularly scheduled meetings, the Board also received information on particular matters as the need arose. Thus, the Board's consideration of the advisory contract included review of the Senior Officer's Evaluation, accompanying data and additional information covering such matters as: the Adviser's investment philosophy, revenue, profitability, personnel and processes; investment and operating strategies; the Fund's short- and long-term performance (in absolute terms, both on a gross basis and net of expenses, as well as in relationship to its particular investment program and certain competitor or “peer group” funds and/or other benchmarks, as appropriate), and comments on the reasons for performance; the Fund's investment objectives; the Fund's expenses (including the advisory fee itself and the overall expense structure of the Fund, both in absolute terms and relative to similar and/or competing funds, with due regard for contractual or voluntary expense limitations); the use and allocation of brokerage commissions derived from trading the Fund's portfolio securities (if any); and the nature, quality and extent of the advisory and other services provided to the Fund by the Adviser and its affiliates. The Board also considered the preferences and expectations of Fund shareholders; the entrepreneurial risk assumed by the Adviser in sponsoring the funds; the continuing state of competition in the mutual fund industry and market practices; the range of comparable fees for similar funds in the mutual fund industry; the Fund's relationship to the Federated family of funds which include a comprehensive array of funds with different investment objectives, policies and strategies which are available for exchange without the incurrence of additional sales charges; compliance and audit reports concerning the Federated funds and the Federated companies that service them (including communications from regulatory agencies), as well as Federated's responses to any issues raised therein; and relevant developments in the mutual fund industry and how the Federated funds and/or Federated are responding to them. The Board's evaluation process is evolutionary. The criteria considered and the emphasis placed on relevant criteria change in recognition of changing circumstances in the mutual fund marketplace.
Annual Shareholder Report
35
While mindful that courts have cautioned against giving such comparisons too much weight, the Board has found the use of comparisons of the Fund's fees and expenses to other mutual funds with comparable investment programs to be relevant, given the high degree of competition in the mutual fund business. The Board focused on comparisons with other similar mutual funds more heavily than non-mutual fund products or services because it is believed that they are more relevant. For example, other mutual funds are the products most like the Fund, they are readily available to Fund shareholders as alternative investment vehicles, and they are the type of investment vehicle in fact chosen and maintained by the Fund's investors. The range of their fees and expenses therefore appears to be a generally reliable indication of what consumers have found to be reasonable in the precise marketplace in which the Fund competes. In this regard, the Senior Officer has reviewed Federated's fees for providing advisory services to products outside the Federated family of funds (e.g., institutional and separate accounts). He concluded that mutual funds and institutional accounts are inherently different products. Those differences include, but are not limited to, different types of targeted investors; being subject to different laws and regulations; different legal structures; different average account sizes; different associated costs; different portfolio management techniques made necessary by different cash flows; and portfolio manager time spent in review of securities pricing. The Senior Officer did not consider these fee schedules to be determinative in judging the appropriateness of mutual fund advisory contracts.
The Fund's ability to deliver competitive performance when compared to its peer group was also deemed to be relevant by the Board as a useful indicator of how the Adviser is executing the Fund's investment program, which in turn assisted the Board in reaching a conclusion that the nature, extent, and quality of the Adviser's investment management services were such as to warrant continuation of the advisory contract.
The Senior Officer reviewed information compiled by Federated, using data supplied by independent fund ranking organizations, regarding the performance of, and fees charged by, other mutual funds, noting his view that comparisons to fund peer groups are relevant in judging the reasonableness of proposed fees.
For the one-year, three-year and five-year periods covered by the Evaluation, the Fund's performance was above the median of the relevant peer group.
The Board also received financial information about Federated, including information regarding the compensation and benefits Federated derived from its relationships with the Federated funds. This information covered not only the fees under the advisory contracts, but also fees received by Federated's subsidiaries for providing other services to the Federated funds under separate contracts (e.g., for serving as the Federated funds' administrator). The information also detailed any indirect benefit Federated may derive from its receipt of research services from brokers who execute Federated fund trades. In addition, the Board considered the fact that, in order for a fund to be
Annual Shareholder Report
36
competitive in the marketplace, Federated and its affiliates frequently waived fees and/or reimbursed expenses and have disclosed to fund investors and/or indicated to the Board their intention to do so in the future, where appropriate. Moreover, the Board receives regular reporting as to the institution or elimination of these voluntary waivers.
Federated furnished information, requested by the Senior Officer, that reported revenues on a fund-by-fund basis and made estimates of the allocation of expenses on a fund-by-fund basis, using allocation methodologies specified by the Senior Officer. The Senior Officer noted that, although they may apply consistent allocation processes, the inherent difficulties in allocating costs (and the unavoidable arbitrary aspects of that exercise) and the lack of consensus on how to allocate those costs may render such allocation information unreliable. The allocation information was considered in the analysis by the Board but was determined to be of limited use.
The Board and the Senior Officer also reviewed information compiled by Federated comparing profitability information for Federated to other publicly held fund management companies. In this regard, the Senior Officer noted the limited availability of such information, but nonetheless concluded that Federated's profit margins did not appear to be excessive.
The Senior Officer's Evaluation also discussed the notion of possible realization of “economies of scale” as a fund grows larger. The Board considered in this regard that the Adviser has made significant and long-term investments in areas that support all of the Federated funds, such as personnel and processes for the portfolio management, shareholder services, compliance, internal audit, and risk management functions; and systems technology; and that the benefits of these efforts (as well as any economies, should they exist) were likely to be enjoyed by the fund complex as a whole. Finally, the Board also noted the absence of any applicable regulatory or industry guidelines on this subject, which (as discussed in the Senior Officer's Evaluation) is compounded by the lack of any common industry practice or general pattern with respect to structuring fund advisory fees with “breakpoints” that serve to reduce the fee as the fund attains a certain size. The Senior Officer did not recommend institution of breakpoints in pricing Federated's fund advisory services at this time.
It was noted in the materials for the Board meeting that for the period covered by the Evaluation, the Fund's investment advisory fee, after waivers and expense reimbursements, if any, was above the median of the relevant peer group. The Board reviewed the fees and other expenses of the Fund with the Adviser and was satisfied that the overall expense structure of the Fund remained competitive. The Board will continue to monitor advisory fees and other expense born by the Fund.
Annual Shareholder Report
37
The Senior Officer noted that, considering the totality of the circumstances, and all of the factors referenced within his Evaluation, he had concluded that, subject to comments and recommendations made within his Evaluation, his observations and the information accompanying the Evaluation supported a finding by the Board that the management fees for each of the funds was reasonable and that Federated appeared to provide appropriate advisory and administrative services to the Fund for the fees paid. Under these circumstances, no changes were recommended to, and no objection was raised to, the continuation of the Fund's advisory contract.
In its decision to continue an existing investment advisory contract, the Board was mindful of the potential disruptions of the Fund's operations and various risks, uncertainties and other effects that could occur as a result of a decision to terminate or not renew an advisory contract. In particular, the Board recognized that many shareholders have invested in the Fund on the strength of the Adviser's industry standing and reputation and with the expectation that the Adviser will have a continuing role in providing advisory services to the Fund. Thus, the Board's approval of the advisory contract reflected the fact that it is the shareholders who have effectively selected the Adviser by virtue of having invested in the Fund. The Board concluded that, in light of the factors discussed above, including the nature, quality and scope of the services provided to the Fund by the Adviser and its affiliates, continuation of the advisory contract was appropriate.
The Board based its decision to approve the advisory contract on the totality of the circumstances and relevant factors and with a view to past and future long-term considerations. Not all of the factors and considerations identified above were necessarily relevant to the Fund, nor did the Board consider any one of them to be determinative. With respect to the factors that were relevant, the Board's decision to approve the contract reflects its determination that Federated's performance and actions provided a satisfactory basis to support the decision to continue the existing arrangements.
Annual Shareholder Report
38
Voting Proxies on Fund Portfolio Securities
A description of the policies and procedures that the Fund uses to determine how to vote proxies, if any, relating to securities held in the Fund's portfolio is available, without charge and upon request, by calling 1-800-341-7400. A report on “ Form N-PX” of how the Fund voted any such proxies during the most recent 12-month period ended June 30 is available from Federated's website at FederatedInvestors.com. To access this information from the home page, select “All” under “Asset Classes.” Select a fund name and share class, if applicable, to go to the Fund Overview page. On the Fund Overview page, select the “Literature and Prospectuses” tab. At the bottom of that page, select “Proxy Voting Record Report (Form N-PX).” Form N-PX filings are also available at the SEC's website at www.sec.gov.
Quarterly Portfolio Schedule
The Fund files with the SEC a complete schedule of its portfolio holdings, as of the close of the first and third quarters of its fiscal year, on “Form N-Q.” These filings are available on the SEC's website at www.sec.gov and may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. (Call 1-800-SEC-0330 for information on the operation of the Public Reference Room.) You may also access this information from the “ Products” section of Federated's website at FederatedInvestors.com. From the home page, select “All” under “Asset Classes.” Select a fund name and share class, if applicable, to go to the Fund Overview page. On the Fund Overview page, select the “Literature and Prospectuses” tab. At the bottom of that page, select “Form N-Q.”
Annual Shareholder Report
39
Mutual funds are not bank deposits or obligations, are not guaranteed by any bank and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency. Investment in mutual funds involves investment risk, including the possible loss of principal.
This Report is authorized for distribution to prospective investors only when preceded or accompanied by the Fund's Prospectus, which contains facts concerning its objective and policies, management fees, expenses and other information.
Federated U.S. Government Securities Fund: 2-5 Years
Federated Investors Funds
5800 Corporate Drive
Pittsburgh, PA 15237-7000
Contact us at FederatedInvestors.com
or call 1-800-341-7400.
Federated Securities Corp., Distributor
CUSIP 31428P301
CUSIP 31428P103
CUSIP 31428P202
30063 (3/13)
Federated is a registered trademark of Federated Investors, Inc.
2013 ©Federated Investors, Inc.

 

Item 2. Code of Ethics

 

(a) As of the end of the period covered by this report, the registrant has adopted a code of ethics (the "Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers") that applies to the registrant's Principal Executive Officer and Principal Financial Officer; the registrant's Principal Financial Officer also serves as the Principal Accounting Officer.

(c) Not Applicable

(d) Not Applicable

(e) Not Applicable

(f)(3) The registrant hereby undertakes to provide any person, without charge, upon request, a copy of the code of ethics. To request a copy of the code of ethics, contact the registrant at 1-800-341-7400, and ask for a copy of the Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers.

Item 3. Audit Committee Financial Expert

The registrant's Board has determined that each of the following members of the Board's Audit Committee is an “audit committee financial expert,” and is "independent," for purposes of this Item:  Charles F. Mansfield, Jr., Thomas M. O'Neill and John S. Walsh. 

 

Item 4. Principal Accountant Fees and Services

 

(a) Audit Fees billed to the registrant for the two most recent fiscal years:

Fiscal year ended 2013 - $25,450

Fiscal year ended 2012 - $24,450

(b) Audit-Related Fees billed to the registrant for the two most recent fiscal years:

Fiscal year ended 2013 - $36

Fiscal year ended 2012 - $0

Travel to Audit Committee Meeting.

 

Amount requiring approval of the registrant’s audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.

(c) Tax Fees billed to the registrant for the two most recent fiscal years:

Fiscal year ended 2013 - $0

Fiscal year ended 2012 - $0

Amount requiring approval of the registrant’s audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.

(d) All Other Fees billed to the registrant for the two most recent fiscal years:

Fiscal year ended 2013 - $0

Fiscal year ended 2012 - $0

Amount requiring approval of the registrant’s audit committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, $0 and $0 respectively.

(e)(1) Audit Committee Policies regarding Pre-approval of Services.

The Audit Committee is required to pre-approve audit and non-audit services performed by the independent auditor in order to assure that the provision of such services do not impair the auditor’s independence. Unless a type of service to be provided by the independent auditor has received general pre-approval, it will require specific pre-approval by the Audit Committee. Any proposed services exceeding pre-approved cost levels will require specific pre-approval by the Audit Committee.

Certain services have the general pre-approval of the Audit Committee. The term of the general pre-approval is 12 months from the date of pre-approval, unless the Audit Committee specifically provides for a different period. The Audit Committee will annually review the services that may be provided by the independent auditor without obtaining specific pre-approval from the Audit Committee and may grant general pre-approval for such services. The Audit Committee will revise the list of general pre-approved services from time to time, based on subsequent determinations. The Audit Committee will not delegate its responsibilities to pre-approve services performed by the independent auditor to management.

The Audit Committee has delegated pre-approval authority to its Chairman. The Chairman will report any pre-approval decisions to the Audit Committee at its next scheduled meeting. The Committee will designate another member with such pre-approval authority when the Chairman is unavailable.

 

AUDIT SERVICES

The annual Audit services engagement terms and fees will be subject to the specific pre-approval of the Audit Committee. The Audit Committee must approve any changes in terms, conditions and fees resulting from changes in audit scope, registered investment company (RIC) structure or other matters.

In addition to the annual Audit services engagement specifically approved by the Audit Committee, the Audit Committee may grant general pre-approval for other Audit Services, which are those services that only the independent auditor reasonably can provide. The Audit Committee has pre-approved certain Audit services, all other Audit services must be specifically pre-approved by the Audit Committee.

AUDIT-RELATED SERVICES

Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the Company’s financial statements or that are traditionally performed by the independent auditor. The Audit Committee believes that the provision of Audit-related services does not impair the independence of the auditor, and has pre-approved certain Audit-related services, all other Audit-related services must be specifically pre-approved by the Audit Committee.

TAX SERVICES

The Audit Committee believes that the independent auditor can provide Tax services to the Company such as tax compliance, tax planning and tax advice without impairing the auditor’s independence. However, the Audit Committee will not permit the retention of the independent auditor in connection with a transaction initially recommended by the independent auditor, the purpose of which may be tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Audit Committee has pre-approved certain Tax services, all Tax services involving large and complex transactions must be specifically pre-approved by the Audit Committee.

ALL OTHER SERVICES

With respect to the provision of services other than audit, review or attest services the pre-approval requirement is waived if:

(1)The aggregate amount of all such services provided constitutes no more than five percent of the total amount of revenues paid by the registrant, the registrant’s adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant to its accountant during the fiscal year in which the services are provided;

 

(2)Such services were not recognized by the registrant, the registrant’s adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant at the time of the engagement to be non-audit services; and

 

(3)Such services are promptly brought to the attention of the Audit Committee of the issuer and approved prior to the completion of the audit by the Audit Committee or by one or more members of the Audit Committee who are members of the board of directors to whom authority to grant such approvals has been delegated by the Audit Committee.

 

The Audit Committee may grant general pre-approval to those permissible non-audit services classified as All Other services that it believes are routine and recurring services, and would not impair the independence of the auditor.

The SEC’s rules and relevant guidance should be consulted to determine the precise definitions of prohibited non-audit services and the applicability of exceptions to certain of the prohibitions.

PRE-APPROVAL FEE LEVELS

Pre-approval fee levels for all services to be provided by the independent auditor will be established annually by the Audit Committee. Any proposed services exceeding these levels will require specific pre-approval by the Audit Committee.

PROCEDURES

Requests or applications to provide services that require specific approval by the Audit Committee will be submitted to the Audit Committee by both the independent auditor and the Principal Accounting Officer and/or Internal Auditor, and must include a joint statement as to whether, in their view, the request or application is consistent with the SEC’s rules on auditor independence.

(e)(2) Percentage of services identified in items 4(b) through 4(d) that were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X:

4(b)

Fiscal year ended 2013 – 0%

Fiscal year ended 2012 - 0%

Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.

4(c)

Fiscal year ended 2013 – 0%

Fiscal year ended 2012 – 0%

Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.

4(d)

Fiscal year ended 2013 – 0%

Fiscal year ended 2012 – 0%

Percentage of services provided to the registrants investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were approved by the registrants audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, 0% and 0% respectively.

(f)NA

 

(g)Non-Audit Fees billed to the registrant, the registrant’s investment adviser, and certain entities controlling, controlled by or under common control with the investment adviser:

Fiscal year ended 2013 - $146,108

Fiscal year ended 2012 - $474,486

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

Item 5. Audit Committee of Listed Registrants

 

Not Applicable

 

Item 6. Schedule of Investments

 

(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this form.

 

(b) Not Applicable; Fund had no divestments during the reporting period covered since the previous Form N-CSR filing.

 

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

 

Not Applicable

 

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

 

Not Applicable

 

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

 

Not Applicable

 

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

 

Not Applicable

 

Item 11. Controls and Procedures

 

(a) The registrant’s President and Treasurer have concluded that the

registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-CSR.

 

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 12. Exhibits

 

(a)(1) Code of Ethics- Not Applicable to this Report.

 

(a)(2) Certifications of Principal Executive Officer and Principal Financial Officer.

 

(a)(3) Not Applicable.

 

(b) Certifications pursuant to 18 U.S.C. Section 1350.

 

 

 

 

 

 

 

 

 

 

 

 

SIGNATURES

 

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

 

Registrant Federated U.S. Government Securities Fund: 2-5 Years

 

By /S/ Richard A. Novak

 

Richard A. Novak, Principal Financial Officer

 

Date March 21, 2013

 

 

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

 

 

By /S/ J. Christopher Donahue

 

J. Christopher Donahue, Principal Executive Officer

 

Date March 21, 2013

 

 

By /S/ Richard A. Novak

 

Richard A. Novak, Principal Financial Officer

 

Date March 21, 2013

 

 

 GRAPHIC 2 fedregcovsmall.gif GRAPHIC begin 644 fedregcovsmall.gif M1TE&.#EAM0%J`/(``````$-#0U-34UU=76]O;W]_?[.SLP```"'Y!`$```<` M+`````"U`6H```/^:+K<_C#*2:N].%\!NO]@*(YD:9YHJJYLZ[YPK&IT;=]X M;G-R[__`H'!([.F.R*1RN>`5G]"H=$J%,:_8K+99[7J_X+!K2RZ;-4ZQ>LUN M#\_PN%R1=MOO^/QGSN]CZWJ!@H-3?H:'.8"$BXR-+XB0D1N.E)66)9*9F@Z* MEYZ?@INBFIV@IJ=KHZJ0I:BNKX6KLGVML+:W0+.Z.?X.8TXN3JE.?MD^OPL.[S$^GQ M]WKT^@_V^/YN^P)R^4>0G<"`_0HJ]'(0X<*'H1KJ2PBQ8A&)$RUJ;(/^D1[% MC2!E=)SW,:3)%B/=E3S)$D7*=BM;RASQ\ES,F3@]U#1W,R?.G>!Z^I0)])O0 MH2R+9CN*U*12;$R;@GPJ+:I4C52C6;U:,>NRK5P?>E4&-JS"L=7QE^?T[+O"JP82Y&5:%.'&UQ:,:.W8&693D MR=`JD\+,5?-FSE(]9[H,VI=H2:1+WSH=*;5J>:P1N7[M+?:AV;1/V;Z=.^=N M0[A[E_M-2_A,XL6-MT3.)[CR2LSG.'_N*#HOZB>MQYF.?9%V.-R[#_I^)KSX M0.2)G=^8OHSY]7C:DWD/WX[\+?3K<[R?);_^_E3\_?&?6`%>X=^`811H(()G M*;C$@0PRY*`2$$98Q8046OA/`1QVZ.&'((8HXH@DEFCBB2BFJ.**++;HXHH! M:.C%BS36:..-..:HXXX201!8II(\_3F'DDDPVZ>222"89Q9-4 M5FGEE29&*>436';IY9=0;BD%F&26:>:+6HHYQ)ELMNGFAVFJ&<2;=-8)9IQR M_F#GGGP^B6>>/?0IZ*!'`DH$H8@F6N.?AL*@Z*.0HLAHHRY$:NFE<%(Z)Z:< M1CJIIBMT*JJBGX*:PJBH#DK``*RVZNJKL,8JZZRTUFKKK;CFJNNNO/;::ZK` M!BOLL,06:^RQR"9@J^RRS$)ZP+/01BOMM-16:^VUV&:K[;;<=NOMM^"&*^ZX MY)9K[KGHIJONNNRVZ^Z[\,8K[[STUFOOO?CFJ^^^_/;K[[\`!RSPP`07;/#! 4"">L\,(,-^QPO GRAPHIC 3 gov25ar30063r.jpg GRAPHIC begin 644 gov25ar30063r.jpg M_]C_X``02D9)1@`!`0$`9`!D``#_X@H@24-#7U!23T9)3$4``0$```H0```` M``(0``!M;G1R4D="(%A96B````````````````!A8W-P05!03``````````` M````````````````````````]M4``0````#3+``````````````````````` M``````````````````````````````````````````````ID97-C````_``` M`'QC<')T```!>````"AW='!T```!H````!1B:W!T```!M````!1R6%E:```! MR````!1G6%E:```!W````!1B6%E:```!\````!1R5%)#```"!```"`QG5%)# M```"!```"`QB5%)#```"!```"`QD97-C`````````")!"!3;V9T=V%R92`R M,#$Q`%A96B````````#S40`!`````1;,6%E:(`````````````````````!8 M65H@````````;Z(``#CU```#D%A96B````````!BF0``MX4``!C:6%E:(``` M`````"2@```/A```ML]C=7)V````````!``````%``H`#P`4`!D`'@`C`"@` M+0`R`#<`.P!``$4`2@!/`%0`60!>`&,`:`!M`'(`=P!\`($`A@"+`)``E0": M`)\`I`"I`*X`L@"W`+P`P0#&`,L`T`#5`-L`X`#E`.L`\`#V`/L!`0$'`0T! M$P$9`1\!)0$K`3(!.`$^`44!3`%2`5D!8`%G`6X!=0%\`8,!BP&2`9H!H0&I M`;$!N0'!`$!Z0'R`?H"`P(,`A0"'0(F`B\".`)!`DL"5`)=`F<" M<0)Z`H0"C@*8`J("K`*V`L$"RP+5`N`"ZP+U`P`#"P,6`R$#+0,X`T,#3P-: M`V8#<@-^`XH#E@.B`ZX#N@/'`],#X`/L`_D$!@03!"`$+00[!$@$501C!'$$ M?@2,!)H$J`2V!,0$TP3A!/`$_@4-!1P%*P4Z!4D%6`5G!7<%A@66!:8%M07% M!=4%Y07V!@8&%@8G!C<&2`99!FH&>P:,!IT&KP;`!M$&XP;U!P<'&09!ZP'OP?2!^4'^`@+"!\(,@A&"%H(;@B"")8(J@B^"-((YPC[ M"1`))0DZ"4\)9`EY"8\)I`FZ"<\)Y0G["A$*)PH]"E0*:@J!"I@*K@K%"MP* M\PL+"R(+.0M1"VD+@`N8"[`+R`OA"_D,$@PJ#$,,7`QU#(X,IPS`#-D,\PT- M#28-0`U:#70-C@VI#<,-W@WX#A,.+@Y)#F0.?PZ;#K8.T@[N#PD/)0]!#UX/ M>@^6#[,/SP_L$`D0)A!#$&$0?A";$+D0UQ#U$1,1,1%/$6T1C!&J$)%ZX7TA?W M&!L80!AE&(H8KQC5&/H9(!E%&6L9D1FW&=T:!!HJ&E$:=QJ>&L4:[!L4&SL; M8QN*&[(;VAP"'"H<4AQ['*,0!YJ'I0>OA[I M'Q,?/A]I'Y0?OQ_J(!4@02!L()@@Q"#P(1PA2"%U(:$ASB'[(B--@U M$S5--8Y",$)R0K5"]T,Z0WU#P$0#1$=$BD3.11)%546: M1=Y&(D9G1JM&\$25^!8+UA]6,M9 M&EEI6;A:!UI66J9:]5M%6Y5;Y5PU7(9O5\/7V%?LV`% M8%=@JF#\84]AHF'U8DEBG&+P8T-CEV/K9$!DE&3I93UEDF7G9CUFDF;H9SUG MDV?I:#]HEFCL:4-IFFGQ:DAJGVKW:T]KIVO_;%=LKVT(;6!MN6X2;FMNQ&\> M;WAOT7`K<(9PX'$Z<95Q\')+%V/G:;=OAW M5G>S>!%X;GC,>2IYB7GG>D9ZI7L$>V-[PGPA?(%\X7U!?:%^`7YB?L)_(W^$ M?^6`1X"H@0J!:X'-@C""DH+T@U>#NH0=A("$XX5'A:N&#H9RAM>'.X>?B`2( M:8C.B3.)F8G^BF2*RHLPBY:+_(QCC,J-,8V8C?^.9H[.CS:/GI`&D&Z0UI$_ MD:B2$9)ZDN.339.VE""4BI3TE5^5R98TEI^7"I=UE^"83)BXF229D)G\FFB: MU9M"FZ^<')R)G/>=9)W2GD">KI\=GXN?^J!IH-BA1Z&VHB:BEJ,&HW:CYJ16 MI,>E.*6IIAJFBZ;]IVZGX*A2J,2I-ZFIJARJCZL"JW6KZ:QK_UP'#`[,%GP>/"7\+;PUC# MU,11Q,[%2\7(QD;&P\=!Q[_(/%$XIZ#+HO.E&Z=#J6^KEZW#K^^R&[1'MG.XH[K3O0._,\%CPY?%R\?_R MC/,9\Z?T-/3"]5#UWO9M]OOWBO@9^*CY./G'^E?ZY_MW_`?\F/TI_;K^2_[< M_VW____;`$,`"`8&!P8%"`<'!PD)"`H,%`T,"PL,&1(3#Q0=&A\>'1H<'"`D M+B<@(BPC'!PH-RDL,#$T-#0?)SD].#(\+C,T,O_;`$,!"0D)#`L,&`T-&#(A M'"$R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R M,C(R,C(R,O_``!$(`+D!LP,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0`````` M`````0(#!`4&!P@)"@O_Q`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q M008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4 ME9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+C MY.7FY^CIZO'R\_3U]O?X^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4& M!P@)"@O_Q`"U$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R M@0@40I&AL<$)(S-2\!5B7J"@X2%AH>(B8J2DY25EI>8F9JB MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR M\_3U]O?X^?K_V@`,`P$``A$#$0`_`.PU?Q9K/VKQ+=PZJ;"UT:YBMXHUL_.C M?(R[3$*SA>H!4KC(S6M+\2(X[B^C72+B1+6ZCL_-65`KRR$;``>0.2JJW21W,L:3[?NEU5@"1V-/;P=H+07L)L?EO)DGF(E?) MD3&U@=V5(P/NXH`YR;XIVEJ][#=:7<1W%H)49%D#"29'13&A[Y\U"#COTJOJ MGQ,GEMH9=$LD:WEN?LWVB9NI,`ERH'<9`YR.*ZA/!/AY)+24Z?YDUIK MIQG,@&;AERHV]=N2`6[>AK_#,:V(DO\` M5Y8&FAAP%5CV7`QQQTZGUK+'C#4[;P%J6I6=[!>7^FL#'!W#ZYS5"T\':5#HEYIE MRDMXE\,(`",9/4\UJW?@[ M0;V>*:XL-SQQQQ8$TBJZ1D,@=0V'P0"-P-5IO`>AWEY>W5[!+-)=2NY(GDCV MJZ*K)E6&5.W)!XY/%`'*ZC\1=76QGU&S@LXX++3+*_GAE1F,QG(RH8,-N`3C M@\U?T/QKJVHZ_I*SI:"PU6YO;>.)$820^0"5);=ALX.>!CC%=+>>#]!O[F.> MXT\%TCCBVI(Z(R(P9%95(5@"`1N!I]EX4T73]3_M&ULO+N=TC*?-*`,34?B!'97M MU#%ILLL,%ZNG&G?)]ZL3^#]#N=2:_ELV,S3"X91,XC:4#:)"@.W7+FYD8K*D7R12% MI./;'J:T?^%IVA9G32[AK9;I+7S?,4$L\9D4[?3"G/I[UM-X`\,M;06PTTI# M#!);*L=Q(F8W.65B&RV3SSGFGQ^!?#<2!$TP;!<)<[3-(1YB(44\MSA21CH> MXH`H0?$&UFA$HL95!T9=6^:5%&UF*A"6(`/'4G%9T7Q3BGO$L8='FFOGNEME MCCG4J2R;U(QBEM/L3*]S*_[G=N"#+'`!Y&.E.@\ M#>';?4([]+%S=QRK,LKW,KMO5=H)RQSQQS0!!X?\:Q:_J*6$=A+#<+',URKN M#]G,%VT74]8U6[GAGO]3F#R&&(QHBJ.%`))ZDDG/)-6?^$1T/^U?[2^Q' M[1]I^UX\Z3R_.QM\SR]VS=COC-`%#PAK^J:QJ.O6>J+:"33;E8%-JK!6^7)/ MS$FKOBG4+_3+!+JVN;*TM8RS7=U=*7\M`.`B`C)X])N;VXL+*SFTVQM[J[MI(W)F,LA7`.[Y/DP<')R<&NKOO$.KV MGQ!MM#"6)LKFSEN(F8,'!0#AFS@#=GH.F*NR>"/#TSQ/+922-&BIE[J5O,57 MWJ),M^\PW(W9Q5^[T'3+_4X]1NK19;J.![=79FQY;_>4KG!S[B@#G_"_B#6K MSQ/?:/JYLV,%JDX:&%XLL6*ML#$F2,8X?`S^/'95CZ1X7T?0IS/I]JZ2^2MN M'DGDE*Q+R$4NQVJ/08%;%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`')7KD,`1^5 M):^*=-DG2V>^MIY7=4WVA+Q@L<*"PXR2/Y>HK3U*PBU73;BPG9UBG0HQ0@,` M?3(-5I-$@?5FU!9IHY'*%T7;MGQ:I;6^'-M-#,ZS M^6P#NDD485./FR9#SVVYZ'-6H?%.EW/F^2\[B*+S9"L#D*,L,'C[V588ZY%5 M9/!=C)/:RM>7O^AB06RYC*Q!Y$<@93G[@7YL\$_6K)\+VC6U]"US=$WD212O MN4'"EB",+C^,Y&,8XQB@"(^+]-6\>!UF1(H999I6C($9C8*5(ZDY8=.N1ZU% MJ7C73[32;^ZMEDN+FTMYIC;B-LKL7/SD#Y08LH?; MY:@[RC=`F!AD4C&/?(XJ2[\(6UY;W4+W]\GVJWDMIVC,8+QOQC&S`QSC`'4Y MS0!I7NH&TU+3;41AA>2O&6SC;MC9\^_W<5F7/B.>/1KF]CM1F&^>U8X9UC59 M"AD8*,X`&2!^8'-:NH:9'J$EK*9IH)K60R12Q;<@E2I&&!!!#'M51?#R1PQQ MPZC?1;)FG+(R`M(S%F9OEP<[B,?=QT`(!`!/9:F)=#_M*=[=T5'W5F MC'EJ=F#D)DL-BX))ZM$_A6QND(N)KB21KQ;R20LH:1P@C MVG"@;2@"D8Y'OS31X4LQ875C]HN?LT\;Q;`4&Q6;)P=N3CH-V<"@":'Q-ITT M_DYN(W\QH?WL#*/,6/S"N2.NP$X]C4SF^U7,K6AS'OV`?<9.=JC/#$YZY M[U)H_AZVT0Q?99KAE2SAL]LA4AEB!"L<`'=@G../:@#+L_%X:XG%^+>W",R& MVRWVB-MX5`4(^8,"3N'RC'4CFM+_`(2?2S%%(LLKB1&DPD+,456VL6`'&&X_ M`^AJM+X/M)Y+:2>^OI7M,BV:1D8Q`L&(R5^;[H'S;N/?FK)\/Q;XG2^O8I$B M,3O&ZJ9%+;L'Y>.<_=VX!/M@`2Y\4:7:?9O,DE+7._R52)F+;9$C(P!_>D4? MC5&?QC!#=WUJ83NMHI)3(58(H4)PW&<_..@/:IF\'V;WMI7C?9'=X8RR; M5W3)*1]W)&Z-1R>F?K1=>#["[N;R=KB[1KQ95F",N"'"`@94XQY:D?CG/2@" M<>*M((N&^TG;`C.6V-AE5MA*\<_,0/Q'8YI-5\0)8Z-#J$85$DN(X";K,0CW M2;"S9[#D^A]<*[NDBD5D51L_=@MNX^7YO3YMW''K3X/#EG;Z M7;Z>CS"&"Z%TF"H^82>8!@#`7/&`!Q0`Z/7['[/YCW44N'AC+V^70M+)Y:8/ M?+$#VJ'_`(2W2=Z)YDP>1F6%3"V9F601L$XYPQ`/USTJ6^\/P7]X;A[JYC#2 M6\CQ1E-KM#)YB9RI(Y`S@CBJS^$+%I+&5;F[CELC,T#JRY!EE61B4P/8 MGJ<$`%O1-9_M>U\XV\D1,UQ&`4.`(IFC&21PQVYQUZ^E)9:Q+57>`/E)P2!D]#Z5-I>E+I4(ABNKB2/?-(PEV'<\LAD9CA1T+$#& M!@]">:K6WANUB^TK=32ZC%<2&5X[V.)U+YX/"`G`X&2<#`%`"6NO?:=>GT[R MH42)VC#M*V]V"JQPNS;_`!?WLXYQ46K>)#I-])9S6Z^;+&&L27PL[9PX)Q\N MSAB>?ER>QJXFAPKJ,5X;FY<0,SP0,R^7$67:=O&<8S@9P,GCIB74-)MM3EMW MN-Y$!?PP`;$$R7%O'/'NV M2*'7.ZCLT5(6N5$C#``!R1UX[4E[I*W5]%>PW4]I"=.DM?LYN;PIYC2$NZR$DQK&<[E. M3A0<]0GR\$[/FQLX#;@,D8P:`)]5\0)8Z-# MJ$85$DN(X";K,0CW2;"S9[#D^A]<\2YN9(1+8LSY"Q% M\[,95L@J5/3&>^*T+;Q+I=VT0AF=DFC,D4GEL%D`4.=IQS\K`_\`ZC20>';: M'4$OVGN);D7!N&=RHWL8O*Y`4#`7TQ[YJAI?@73=)-L8+B[?[/$8D\PH3M,8 MCY(0$\`=\`]!CB@"Q'XRT:18V,TJ(ZHX:2%E`#_<)R.,]OP]1G4T[48-4MOM M%MYGEY`R\97.0"",]1@CD?S!K,B\*6EOY8@NKN,+#%"=K)EA&NU3G;D'&,[2 M`<#BKFC:+;Z)#/';R2/Y\GFN7"J-VT+PJ*JC.W)P.22:`-*BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@"J)+[[';L;>`7+%//C$QVH#C?M;;EL=Q?)R-N,8QCG/?I4CNL:,[L%51DL3@`>M+0!B>,)7@\ M'ZM+'(8W2V7*.'M+QVBCA"`R*LF"5/R@ M''3SE/&:]#HH`\X.J7D3:7J-S\/VT<>L^(=H;]S?K%&"Y(1#;0,0,G@;F8_4FNAHH MH`****`"BBB@`HHHH`****`,2SNO$CZNT=[IFGQ:=N;$T5XSR8YV_*4`YXSS M1;W7B1M:,5QIFGIIF]@)TO&:3;SM.S8!D\9&>,]:VZ*`,7Q=,]OX1U6:.1HF M2W9@ZMM*\=<]JYSQ/JNGW5T+FVU.UO([>T>]HH`XBYU%S!K%F+ITOGU:W\B!I,2^6Q@/RKG.W&_...&]#20R0_P#"8.CS M+>?:+R2(A9G2>W_=-E'CZ-%@9!XY93@YS7<44`>>P0S%=+6WC$[RZQJ,3I-< MNBNB27`4%@&.%"C`QV%6]+N[Y-=L]7F(73=39[2*-9V=4`4&)@"``#YL#[?XY_P"@#HW_`(,7_P#C==710!A^*9YH/!FI3EO(G6U9 MBT;GY#CG#A..,C MKZ*`//$U*5D6Y$MW!;(NDR,)Y26C0NVXNQ]L;B>O4T[4[E;S5KN4:A;M:?;1 MY,=U,RVMQMMTW+YB\*022.",AN"1QZ#10!YK=:C;2:=>75^TT/E:5;RV,5U> MF*55V,6='P=TN>,X))"YP#SIW>H7-OKFHWRVR7,<%G:.BRW+(P=S(%5%"D$L MVT=1SBNV(!()`..1[4M`'+^%5OM-N[W1M3F,LZK'=QR&5I-ZN-KX)`_Y:(S8 MQ@!P!74444`%%%%`!1110`4444`%%%%`!1110!C>)X(I]'(FG:%$D63=]G:= M#MYQ(B]4XYZ?6LU(;^X32KN/3_L=X;"=#&BD)$V%V#_9&>0#SV[5U9`(((R# MVHH`XG0'N+2RGM!%)%>7%E&()#:R0[YQ&Q8$-D9'RG>?O9P2=O&5%8W(E@+Z M?='2A;H)8/LCY-P(&!;9MR>2!NQC/?->EX&JQ:G8F^AG^W) M*YNYVC.'B\A0HWXPWS[>`>H/O78ZC?+IUF;AHI)OG2-8XL;F9W"*!N('5AU( MJU67X@_Y!L/_`%_6G_I1'0`?VK>_]"_J7_?RV_\`CM']JWO_`$+^I?\`?RV_ M^.UJ44`9?]JWO_0OZE_W\MO_`([1_:M[_P!"_J7_`'\MO_CM:E%`&7_:M[_T M+^I?]_+;_P".T?VK>_\`0OZE_P!_+;_X[6I10!E_VK>_]"_J7_?RV_\`CM'] MJWO_`$+^I?\`?RV_^.UJ44`9?]JWO_0OZE_W\MO_`([1_:M[_P!"_J7_`'\M MO_CM:E%`&7_:M[_T+^I?]_+;_P".T?VK>_\`0OZE_P!_+;_X[6I10!E_VK>_ M]"_J7_?RV_\`CM']JWO_`$+^I?\`?RV_^.UJ44`9?]JWO_0OZE_W\MO_`([1 M_:M[_P!"_J7_`'\MO_CM:E%`&7_:M[_T+^I?]_+;_P".T?VK>_\`0OZE_P!_ M+;_X[6I10!E_VK>_]"_J7_?RV_\`CM']JWO_`$+^I?\`?RV_^.UJ44`9?]JW MO_0OZE_W\MO_`([1_:M[_P!"_J7_`'\MO_CM:E%`&7_:M[_T+^I?]_+;_P". MT?VK>_\`0OZE_P!_+;_X[6I10!E_VK>_]"_J7_?RV_\`CM']JWO_`$+^I?\` M?RV_^.UJ44`9?]JWO_0OZE_W\MO_`([1_:M[_P!"_J7_`'\MO_CM:E%`&7_: MM[_T+^I?]_+;_P".T?VK>_\`0OZE_P!_+;_X[6I10!E_VK>_]"_J7_?RV_\` MCM']JWO_`$+^I?\`?RV_^.UJ44`9?]JWO_0OZE_W\MO_`([1_:M[_P!"_J7_ M`'\MO_CM:E%`&7_:M[_T+^I?]_+;_P".T?VK>_\`0OZE_P!_+;_X[6I10!E_ MVK>_]"_J7_?RV_\`CM']JWO_`$+^I?\`?RV_^.UJ44`9?]JWO_0OZE_W\MO_ M`([1_:M[_P!"_J7_`'\MO_CM:E%`&7_:M[_T+^I?]_+;_P".T?VK>_\`0OZE M_P!_+;_X[6I10!FVFK-<:@;*;3[NTE\HRKYQC(900#C8[=R.M:59+_\`(W0_ M]>#_`/HQ*Q=6\7367C6VT-1:6T917WWLK1"ZW'&V(A"-RXZ$C)('O0!V%%<5 M>^.Y['4/$=G/I(1M'L6O$87&[SQSMXV_+G`)Y.,UH>$/$TOB.*Y-P+%)8?++ M16TLC,@89&\.BX]L9!YYH`Z6BN*;QAK?]NP:0-`A2ZNXIY;>-[OYHUC.`TV% M(57[8)YXJE;_`!"U$V&IRW.E6PGM[Z/3[18+EG2YG/WP&*@@(.2<'H?2@#T* MBJNF:A;ZMIEMJ%HY>WN8Q)&Q4C*D9'!Y%%`%JBBB@`HHHH`*R_$'_(-A_P"O MZT_]*(ZU*R_$'_(-A_Z_K3_THCH`U****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBLI] M=MY-/M+[38Y-4M[F=85DLL.%!)4N3G&U2#DT`:M5KO4+.QDMDNKF.%[F40PA MVP9'()"CWX-0"'49=1O5N)H!ILD2K`L099E;!W$MG'IC%.LM)M;+3K.RP]PE MH!Y4ER?,<$U:=%`%".RNUO[^9]3E:"X5%@@$ M:@6Q`()4XR23SSG&*KC1;DZ5I]G)K5\9K65))+E"JO<;2B@" MFFG[-8EU'[9=MYD*P_9FE_UF0@J5;9O7D5''+8/$3#*[;6\Y&4LRME1QT'3DT`=#-X4LYM8U+5 M!=7L-SJ%JMK(T,VSRU7HR$#(;WR?I5)/!AM7FN+36-0-_- MGRJ!@KD'CDG))K'FUO5;?Q?XETVZ\11VEG;V*3V]Q-;Q[+4N_!(XW8X'S&K? M@W6[S[;KMCK>HMNL[J***.[:/S$#H"H+IA6+'.`,D=*`+^F>"8M+U.]U"'7- M7DN+W=YS2O"Q)(('/EY&W/RC.!CI3XO`?A]="LM(EL_M$%F&,3S-E]S?>HK/M-;\3 M26MM/!KE[W8F,>85W*I8C'((Y&::?3)8S;6\."U M]`X+N25X5&''#=3WH`TJ*S5L+YFU-9]5D>&ZXMECB5&M!MP=K?Q'/.3TIAT* M*2UTN*XN[R>33G21)FF(:5E7&9,8W9SS0!IET!8%E!49;GH/4UGW&O:;;6EG M=?:!-;WDZ0026ZF57=L@,82*)`JJ/8"@"NEW=OJMQ:&PD2WCB5X[MG!21CG*X' M(Q@?YZU$LM9O=(L4O]0CM-0BF66X?3U/ER!6)V#?S@C&:V:*`*4>DV46LSZL MD1%[/"L+R;S@HI)`QG`Z^E68+>&UA6&WACAB7.U(U"J._`%255OM2L=,A,U_ M>V]K$.=\\H0?J:`+5%/7GA'XJZ_=S0ZCXEM[.S#8! MMI"@=?944$C_`'C6C8?!>U@TZ2.Z\1:K+>.21/#(8U''&5R_>@#U"BO. MU^$T4<"+#XN\31R*!\RWORY]0,<<^]-/PMO2RR_\)WXD,ZGY7:Y+8'IC/]:` M/1J*\Y_X5IK:7WVR+Q_K`F\ORRSKN.W.Q7::%87VFZ5':ZCJCZG`0">@XH`C?_D;H?^O!_P#T8E<]JL^CW'Q$L[=-#BO-4LT$LTQ$2NBM MPA7>07VX)XSM['6UW7M+AGN;"*%I0\,]Z`)I?$&B3ZUKMG)X>N9;VUM$[B3Q#J M^KVFLO9W-_9I;QE(`Q@*'._DX;Z8'UJKIWAG4M'CNY]*U.U\Z]O8))([>U$5 MO'$N%D"(6;!*Y).>3CIUH`9/K?@^QU/7Y)=,LHYK&)S&[EI_#$ALM-"%;0VT,B@$9'E@,5RH/(X*\UFWWPJTR\NIQ M!J][$DD%PDL32>8=\Q#;SSTR,D8YXY&*T]#\(QZ3:ZS(^I6\AU*"*!G@MQ#% M&(XS&"%W').23S0!M^&K^QU3PY8WNF6OV6RFCW0P[%38N3@;5X'X44GAG1O^ M$>\-V&D?:/M'V6+9YNS9OYSG&3CKZT4`:U%9FO#4#IA&FAS*77S!&RK(8\_- MY9;Y0V.F>*HV^JS7D^E265VSVUW:RM^_B`.]<8+8`P6T,>ZVE9%7SBJ$N5VC[A/"GJ>3R,$XL6OZL]]!IYO''FVJ71N?+ M3*DPLQ3&W&-P!]<<9H`[RLOQ!_R#8?\`K^M/_2B.L#0/$>HZGBH+ M2]M;^'SK.YAN(L[=\,@=<^F14]`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%,EECAB>65UCC0%F=S@*!U)/:@!]075[:V*1O=W$4"R2+$AD M<*&=C@*,]SZ56-_<-J=I#;V1GL)X6D:^25=B'C:,=3N!ZBFV6BP6^G16=W++ MJ0CF,RRWQ$KAMQ8')'\.<#TP*`'_`&Z>;4;O3X[2XA,4*O'>2(#"S-G@F6.!6=/XET&V!-QK>FQ`=?,ND7^9KQ:;X> MZG>PQR67@%8W<$,^J:PTC#GCY49"./7/T]='2/@WK$=G<7%W-HL5Z[`0V[6@ MFBC7C)R1DGJ,'([]>@!Z)/?; MTOX=VFE>&[S18]:UDQW3*QF%R%DBVGHA`^4''/7-`&:_Q"\1W;Q)I'P_U:03 M'$YR"`/J15.]U#XP74YBMM&TBRCQD2K*K_ARYZ?[M=+8?#_2[#2=1 MTT7NJ307X42F:[8LNTD_*1C&<\^M&F?#O0-+T_4+*-;N6#4(Q%.LUR[949X' M(QUH`Y?3_"/CG5SH. M6./PQ5O2/!GAS07E?3-(MX'FC,4C`%BR$Y*G<3P<#CVH`Y+PO:_"V*Y>'1(K M*[N[>)KAF>-YW"KC+`L#SR.%K>T/X@:?XBOGM=/TW5FVQ-+YTEKLC./X=Q/4 M]LUT=IIMC8`BSLK>V!X/DQ*F?R%6:`.3T+Q1K^KZJ+>Y\'W>G66UB;JYN%!! M'0;,9.?8TND7_C:;58H]6T73+>P.[S)8;HNZ\'&!CGG%=710!RFG7_C>36(X MM0T33(=/+D/-'=DN%YP0,<>M=7110!DO_R-T/\` MUX/_`.C$KBO%UNUMXXM[ZQ@-_?S^3%]@O-.:6-U5LEXI\;8RH)8\]LGM7:O_ M`,C=#_UX/_Z,2M0HC.KE5++G:2.1GTH`\SN]$BM?&7BZ>?2-1ETNZTV,L+.* M0M<.6RRH1U8D\@'C/85+X,N8M$MM3U>ZTR_L6U*]MXA8)8R11VP/[N,`,%#' MIN8=R/Q])IKHDF-ZJV"&&1G!'0T`>(1:%/%K,MQJ&A:O+;O)J)NH;>UD$P1] MNS]\!^^W$8`!XR2>AJ6PT>66]M=4N-#OXK";5%FO=*7391%!&L+)%B,H/,.> M68#&2/J?;**`.8^'EC>:=X#TNUOX9(9T5SY4N=T:&1BBG/0A2HQVQ173T4`5 M[VQM=1MFM[N!)HF[.N<'&,CT//6E^Q6AC2/[+#LC0QHOEC"H1@J!V!``Q4]% M`&=;Z#I-G/%-:Z=:V[Q9V^3$J=1@]`,\<4[^Q-)^S_9_[+LO(W;_`"_LZ;=V M-N<8QG''TJ_10!72PLX[MKM+2!;EAAIEC`E>5ZC\5;/2(3 M%X0TR>]N=3N)+C-T[L?,8_PQYW8.!@#`_6I+'P'XQ\<%+GQSK$]M8D[UT^`J MI/ID#Y5_'+?2@#;U_P"*FAZ%%'I?ARW&KWB((X8+(9AC`&%&YK:'X>TGPU8?8M(LH[6#. M6"Y+,?5F/)/U-:=`'B.E_`W4FE5]7UBUBYW.]FC22N>Q#OC:?<"NYM/ACHB6 M+66IW&H:Q:JX>"/4+DMY!P0=NW&,YY_"NUHH`Y"Q^%_@O3\>7H-O(1SFX+2Y M_!B175P6\-K`D%O#'##&-J1QJ%51Z`#@5)10`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`&2_\`R-T/_7@__HQ*UJR7_P"1NA_Z\'_]&)6M0`44 M44`%%%%`!1110`4444`%%%%`!67X@_Y!L/\`U_6G_I1'6I67X@_Y!L/_`%_6 MG_I1'0!J445YO)K7Q7DN)5@\*Z1#%O.QIKD/\O;.V09/O@?2@#TBBO-)+3XO MW[B9=1\/Z:!QY**6!]^4?^=)_P`(A\2+V*:WOO'4,,$Y/F&VM06`(_A.%(YX MX(X_*@#TRHC("$9E)N[RWN+KXA:K(\'^K9 M8V5DR,':1)P2.^/SJW#\(K.,7+-XI\3&:[&+IX[T+Y_&/F^4[N#CDF@#MY-9 MTV*.RD>^M_+OG5+5Q("LS,,@*1P)EM5Y6$7RA!QCA=F.G%4I/@/X9E;=)J>MNW3+3QD M_P#HN@#MCXHM#HMGJL-K?3075$C;YMNP9.=W?ITKE)?A!IMPEJDWB7Q/(MH0ULKWRD0D="F4^ M7&!C'I4%Y\$=!U&Z-S?:SK]W.<;I)[I'8X]28\T`=!!XXMKW1[NYL(8+G4(' M*C3UOH?,9=^W=G<0H(^;GTJ6Y\;Z5;W<#B\TYM+82":^^WQ@12)C]V$SEB<] MNG'K7-Q_`SP@GWCJ,G'\5P/Z**LQ_!;P4BX:RN7/JUR^?T(H`BF^+NAQ6&I. M;VQ6ZCD<6*"2219T`&UF*I\F3GCMBFZU\5],TVUT+48;R"YM+GS/MD-M&9)0 M0O&W<5V_-D?,!D=*TH_A%X%C8,-"!(_O7,Q'Y%\5<@^&O@VW.4\/69_ZZ`O_ M`.A$T`>9W_QEFDAU);**:XCOU/D>?<16[60P5(7:22?X@201D5D)\0[S4M.T MZ"[U#2X;O3)$:TD,%Q//N"E2S'E'8@CGD$YZ5[O;^%O#UKC[/H6F1?[EI&/Z M5HPVT%LNV"&.)<`810HXZ=*!GB">)$U'0I[6YG\47>IW4XDGU#1M)2VDEC"[ M5C7^M#SKV3_`'4(`3ZX![[CTKWN MB@1SOAGP1H?A5"UA;;[MQ^\O)SOFD/?+=L^@P*Z*BB@`HHHH`****`"BBB@` MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,E_P#D;H?^O!__`$8E M:U9+_P#(W0_]>#_^C$K6H`****`"BBB@`HHHH`****`"BBB@`K+\0?\`(-A_ MZ_K3_P!*(ZU*R_$'_(-A_P"OZT_]*(Z`-2BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`,E_^1NA_P"O!_\`T8E:U9+_`/(W0_\`7@__ M`*,2M:@`HHHH`****`"BBB@`K&EUPQ^('TT11`1P^:1)(5DFX)_=+CYP,$'D MWU;3[J]V MHL-LBR,\,OFK@IO(S@?,!U';BJB>,&>6.V%@OVV2)9TB,YV^48R^2VWK\I&, M?C5RT\-)9R$+?7$T,L(@G28(?,C5"J+\JC&,DY')S],1+X/LU*2"]O!<(@B6 MXS'O$80H$^YC&"3TSGO0`NF>*X-4N;80P$6MT[10REOF+K&)""N.!@GG/4>] M7?$'_(-A_P"OZT_]*(ZAL/#%AIMU%+;M,(X69XH"5V1L4"%AQNS@=R1R:N7B M6.J:;(LDX:V#!S+%+C848,#N!XP5!_"@"]17/P66FW0D-OKEY*(QF39J+'8. M>O/'0]?2H-/TV-K)9;O5M0!EN94A87S8=3(WEXP>BN<-OI`@,Y\0W M(A#;/,_M,[=V,XSG&<8?+.`>A0H?Q%`'445CQZ);S1 MK)%J>I.C#*LMZY!'J#FG?V!%_P!!#5/_``,?_&@#6HK#&E6169AJ]^1#GS2+ M]ODQR<\\50T^UM3;3?;-=NUF1YI2#J)!6'>Q1B,\#84.3ZT`=716%:Z98WT/ MG6FLWUQ%G&^'4&=<^F0:G_L"+_H(:I_X&/\`XT`:U%88TJR*S,-7OR(<^:1? MM\F.3GGBJ.F65O+%(ESK5[]H62:39_:!W"'S&V,0#P-A0Y]Q0!U5%8D&DVEU M$);?5]0FC)(#QW[,/S!J7^P(O^@AJG_@8_\`C0!K45AC2K(K,PU>_(ASYI%^ MWR8Y.>>*S[&WLQ;2F^UZZ25))7(;4B-L/F'RV//`*%.3ZB@#K**PK33;"_A\ MZSUJ^N(L[=\.H,ZY],@U/_8$7_00U3_P,?\`QH`UJ*PQI5D5F8:O?D0Y\TB_ M;Y,,T,LQ/DVGF@#J**Q8-(M+J(2V^K:A+&< MX>.^9@<<=0:D_L"+_H(:I_X&/_C0!K45AC2K(K,PU>_(ASYI%^WR8Y.>>*IZ M/IT=SIOFW&KW[2(S^85OV(4;B5S@\?+@T`=116-'HMO-&LD6J:C)&PRK+?.0 M1['-/_L"+_H(:I_X&/\`XT`:U%8:Z59/`TZ:O?M"N=TBW[%1CKSGM5+2=/BG MTLS7.L7Q>,N96%^<(NXE0X16OF!8^W/-`&U17/SV>F6I<7&NWD.P@-YFHLN"1D`Y/H": MBTK2?-M_*N]4U#[8I8O&+YMRKN.TD`]UQ0!??_D;H?\`KP?_`-&)6M6/I]II MEOJ3R17\EQ=A&B(FNC(RJ""P`)]<9K2MKRUO4+VMS#.BG:6B<,`>N./J*`)J M***`"BBB@`HHHH`****`"BBB@`KG?[*NCI5QIP@"17=_)YN&7`MV8LW&?XE& MW'7YO8UT5%`'-:3I]T-=DN9M.-K:FT\CRY&C95.\G$>SJIY)W#/(QW%1V^C7 M\FG6=I*GD?9+*0(=X_U[@H",'C:I;G_;XZ&NIHH`X-=&U/[/.6TJX5I;&*U4 MQR0&2)DC(9@&8KAMVWKGC\:[/3HI(-,M(9DC26.%%=8R2JD*`0,\X^M6:*`. M=NM*NII]3@2`"VU"XB$CAE`\D(/,R,YYP5]?FSTK,N]"UJ:\N$MOW+&ZN)TN MWD&W9)$$`&"6R,]QCY/I7:T4`9'AJSN]/T86MY%%$TVT MC`[#'TK7HHH`YVZTJZFGU.!(`+;4+B(2.&4#R0@\S(SGG!7U^;/2LG4-`U*Y MN+E#:S21_:KBX\R.9%,J/$%5%))PV?[PQ\G7I7<44`9>AQ7T5M<"]$JJ;AC; MI-('D6+C`9@3GG=W/!%:E%%`'.W6E74T^IP)`!;:A<1"1PR@>2$'F9&<\X*^ MOS9Z5B:SX2$'F9&<\X*^OS9Z5473=4M]9>Y6TDF6&\N;M6$J`3*T6U(QEL@YP.0`-O7I M76T4`9^BZ>^G::D<[![N1C-V>!Z``=JT***`.=NM*NII]3@2`" MVU"XB$CAE`\D(/,R,YYP5]?FSTK$/A_6&TVX@^S-YL=C-;AFE7]^[S;PR_-U M`!(W8Y89[UWM%`&-XE8\7A_5/LK1RVTNZ"UDBR M)4S.YN!(&7D]`N<-C.['&21W5%`&/X=LKNTM[Q[T%9;F[>?:=HV@@#HI(&<9 MQD]>23FMBBB@#G;K2KJ:?4X$@`MM0N(A(X90/)"#S,C.><%?7YL]*CU/1[R> MT\01V\05KMHVA`8#S,*NX=>,X(YQUKIJ*`,K0[6X@&H37$30_:KQYDB9@2B[ M57G:2.2I/![^M:M%%`'.W6E74T^IP)`!;:A<1"1PR@>2$'F9&<\X*^OS9Z5? ML;)X=3U622%1#UER#@_A6C1 M10!SO]E71TJXTX0!(KN_D\W#+@6[,6;C/\2C;CK\WL:DFLIH?[=E&F+>+.R/ M#;[D43$(HY).!\PZG]:WJ*`,GP_:RVUA(US#-'=3S--/YNS+.<<@(S`+@``9 MS@<\\F35;.2YGTV2*,,8+L2.<@%5VL">?WIGDE MD@>+S("Z[57YSM/R!4)![?B+EG8WEC<,Q?UQFI/#UE=6][J-Q<6CV\ F=QY7EK*T9==J8*_NSMVKP!WZY[5OT4`%%%%`!1110`4444`?_]D_ ` end GRAPHIC 4 gov25ar30063is.jpg GRAPHIC begin 644 gov25ar30063is.jpg M_]C_X``02D9)1@`!`0$`9`!D``#_X@H@24-#7U!23T9)3$4``0$```H0```` M``(0``!M;G1R4D="(%A96B````````````````!A8W-P05!03``````````` M````````````````````````]M4``0````#3+``````````````````````` M``````````````````````````````````````````````ID97-C````_``` M`'QC<')T```!>````"AW='!T```!H````!1B:W!T```!M````!1R6%E:```! MR````!1G6%E:```!W````!1B6%E:```!\````!1R5%)#```"!```"`QG5%)# M```"!```"`QB5%)#```"!```"`QD97-C`````````")!"!3;V9T=V%R92`R M,#$Q`%A96B````````#S40`!`````1;,6%E:(`````````````````````!8 M65H@````````;Z(``#CU```#D%A96B````````!BF0``MX4``!C:6%E:(``` M`````"2@```/A```ML]C=7)V````````!``````%``H`#P`4`!D`'@`C`"@` M+0`R`#<`.P!``$4`2@!/`%0`60!>`&,`:`!M`'(`=P!\`($`A@"+`)``E0": M`)\`I`"I`*X`L@"W`+P`P0#&`,L`T`#5`-L`X`#E`.L`\`#V`/L!`0$'`0T! M$P$9`1\!)0$K`3(!.`$^`44!3`%2`5D!8`%G`6X!=0%\`8,!BP&2`9H!H0&I M`;$!N0'!`$!Z0'R`?H"`P(,`A0"'0(F`B\".`)!`DL"5`)=`F<" M<0)Z`H0"C@*8`J("K`*V`L$"RP+5`N`"ZP+U`P`#"P,6`R$#+0,X`T,#3P-: M`V8#<@-^`XH#E@.B`ZX#N@/'`],#X`/L`_D$!@03!"`$+00[!$@$501C!'$$ M?@2,!)H$J`2V!,0$TP3A!/`$_@4-!1P%*P4Z!4D%6`5G!7<%A@66!:8%M07% M!=4%Y07V!@8&%@8G!C<&2`99!FH&>P:,!IT&KP;`!M$&XP;U!P<'&09!ZP'OP?2!^4'^`@+"!\(,@A&"%H(;@B"")8(J@B^"-((YPC[ M"1`))0DZ"4\)9`EY"8\)I`FZ"<\)Y0G["A$*)PH]"E0*:@J!"I@*K@K%"MP* M\PL+"R(+.0M1"VD+@`N8"[`+R`OA"_D,$@PJ#$,,7`QU#(X,IPS`#-D,\PT- M#28-0`U:#70-C@VI#<,-W@WX#A,.+@Y)#F0.?PZ;#K8.T@[N#PD/)0]!#UX/ M>@^6#[,/SP_L$`D0)A!#$&$0?A";$+D0UQ#U$1,1,1%/$6T1C!&J$)%ZX7TA?W M&!L80!AE&(H8KQC5&/H9(!E%&6L9D1FW&=T:!!HJ&E$:=QJ>&L4:[!L4&SL; M8QN*&[(;VAP"'"H<4AQ['*,0!YJ'I0>OA[I M'Q,?/A]I'Y0?OQ_J(!4@02!L()@@Q"#P(1PA2"%U(:$ASB'[(B--@U M$S5--8Y",$)R0K5"]T,Z0WU#P$0#1$=$BD3.11)%546: M1=Y&(D9G1JM&\$25^!8+UA]6,M9 M&EEI6;A:!UI66J9:]5M%6Y5;Y5PU7(9O5\/7V%?LV`% M8%=@JF#\84]AHF'U8DEBG&+P8T-CEV/K9$!DE&3I93UEDF7G9CUFDF;H9SUG MDV?I:#]HEFCL:4-IFFGQ:DAJGVKW:T]KIVO_;%=LKVT(;6!MN6X2;FMNQ&\> M;WAOT7`K<(9PX'$Z<95Q\')+%V/G:;=OAW M5G>S>!%X;GC,>2IYB7GG>D9ZI7L$>V-[PGPA?(%\X7U!?:%^`7YB?L)_(W^$ M?^6`1X"H@0J!:X'-@C""DH+T@U>#NH0=A("$XX5'A:N&#H9RAM>'.X>?B`2( M:8C.B3.)F8G^BF2*RHLPBY:+_(QCC,J-,8V8C?^.9H[.CS:/GI`&D&Z0UI$_ MD:B2$9)ZDN.339.VE""4BI3TE5^5R98TEI^7"I=UE^"83)BXF229D)G\FFB: MU9M"FZ^<')R)G/>=9)W2GD">KI\=GXN?^J!IH-BA1Z&VHB:BEJ,&HW:CYJ16 MI,>E.*6IIAJFBZ;]IVZGX*A2J,2I-ZFIJARJCZL"JW6KZ:QK_UP'#`[,%GP>/"7\+;PUC# MU,11Q,[%2\7(QD;&P\=!Q[_(/%$XIZ#+HO.E&Z=#J6^KEZW#K^^R&[1'MG.XH[K3O0._,\%CPY?%R\?_R MC/,9\Z?T-/3"]5#UWO9M]OOWBO@9^*CY./G'^E?ZY_MW_`?\F/TI_;K^2_[< M_VW____;`$,`"`8&!P8%"`<'!PD)"`H,%`T,"PL,&1(3#Q0=&A\>'1H<'"`D M+B<@(BPC'!PH-RDL,#$T-#0?)SD].#(\+C,T,O_;`$,!"0D)#`L,&`T-&#(A M'"$R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R M,C(R,C(R,O_``!$(`+D!LP,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0`````` M`````0(#!`4&!P@)"@O_Q`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q M008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4 ME9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+C MY.7FY^CIZO'R\_3U]O?X^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4& M!P@)"@O_Q`"U$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R M@0@40I&AL<$)(S-2\!5B7J"@X2%AH>(B8J2DY25EI>8F9JB MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR M\_3U]O?X^?K_V@`,`P$``A$#$0`_`.PU?Q9K/VKQ+=PZJ;"UT:YBMXHUL_.C M?(R[3$*SA>H!4KC(S6M+\2(X[B^C72+B1+6ZCL_-65`KRR$;``>0.2JJW21W,L:3[?NEU5@"1V-/;P=H+07L)L?EO)DGF(E?) MD3&U@=V5(P/NXH`YR;XIVEJ][#=:7<1W%H)49%D#"29'13&A[Y\U"#COTJOJ MGQ,GEMH9=$LD:WEN?LWVB9NI,`ERH'<9`YR.*ZA/!/AY)+24Z?YDUIK MIQG,@&;AERHV]=N2`6[>AK_#,:V(DO\` M5Y8&FAAP%5CV7`QQQTZGUK+'C#4[;P%J6I6=[!>7^FL#'!W#ZYS5"T\':5#HEYIE MRDMXE\,(`",9/4\UJW?@[ M0;V>*:XL-SQQQQ8$TBJZ1D,@=0V'P0"-P-5IO`>AWEY>W5[!+-)=2NY(GDCV MJZ*K)E6&5.W)!XY/%`'*ZC\1=76QGU&S@LXX++3+*_GAE1F,QG(RH8,-N`3C M@\U?T/QKJVHZ_I*SI:"PU6YO;>.)$820^0"5);=ALX.>!CC%=+>>#]!O[F.> MXT\%TCCBVI(Z(R(P9%95(5@"`1N!I]EX4T73]3_M&ULO+N=TC*?-*`,34?B!'97M MU#%ILLL,%ZNG&G?)]ZL3^#]#N=2:_ELV,S3"X91,XC:4#:)"@.W7+FYD8K*D7R12% MI./;'J:T?^%IVA9G32[AK9;I+7S?,4$L\9D4[?3"G/I[UM-X`\,M;06PTTI# M#!);*L=Q(F8W.65B&RV3SSGFGQ^!?#<2!$TP;!<)<[3-(1YB(44\MSA21CH> MXH`H0?$&UFA$HL95!T9=6^:5%&UF*A"6(`/'4G%9T7Q3BGO$L8='FFOGNEME MCCG4J2R;U(QBEM/L3*]S*_[G=N"#+'`!Y&.E.@\ M#>';?4([]+%S=QRK,LKW,KMO5=H)RQSQQS0!!X?\:Q:_J*6$=A+#<+',URKN M#]G,%VT74]8U6[GAGO]3F#R&&(QHBJ.%`))ZDDG/)-6?^$1T/^U?[2^Q' M[1]I^UX\Z3R_.QM\SR]VS=COC-`%#PAK^J:QJ.O6>J+:"33;E8%-JK!6^7)/ MS$FKOBG4+_3+!+JVN;*TM8RS7=U=*7\M`.`B`C)X])N;VXL+*SFTVQM[J[MI(W)F,LA7`.[Y/DP<')R<&NKOO$.KV MGQ!MM#"6)LKFSEN(F8,'!0#AFS@#=GH.F*NR>"/#TSQ/+922-&BIE[J5O,57 MWJ),M^\PW(W9Q5^[T'3+_4X]1NK19;J.![=79FQY;_>4KG!S[B@#G_"_B#6K MSQ/?:/JYLV,%JDX:&%XLL6*ML#$F2,8X?`S^/'95CZ1X7T?0IS/I]JZ2^2MN M'DGDE*Q+R$4NQVJ/08%;%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`')7KD,`1^5 M):^*=-DG2V>^MIY7=4WVA+Q@L<*"PXR2/Y>HK3U*PBU73;BPG9UBG0HQ0@,` M?3(-5I-$@?5FU!9IHY'*%T7;MGQ:I;6^'-M-#,ZS M^6P#NDD485./FR9#SVVYZ'-6H?%.EW/F^2\[B*+S9"L#D*,L,'C[V588ZY%5 M9/!=C)/:RM>7O^AB06RYC*Q!Y$<@93G[@7YL\$_6K)\+VC6U]"US=$WD212O MN4'"EB",+C^,Y&,8XQB@"(^+]-6\>!UF1(H999I6C($9C8*5(ZDY8=.N1ZU% MJ7C73[32;^ZMEDN+FTMYIC;B-LKL7/SD#Y08LH?; MY:@[RC=`F!AD4C&/?(XJ2[\(6UY;W4+W]\GVJWDMIVC,8+QOQC&S`QSC`'4Y MS0!I7NH&TU+3;41AA>2O&6SC;MC9\^_W<5F7/B.>/1KF]CM1F&^>U8X9UC59 M"AD8*,X`&2!^8'-:NH:9'J$EK*9IH)K60R12Q;<@E2I&&!!!#'M51?#R1PQQ MPZC?1;)FG+(R`M(S%F9OEP<[B,?=QT`(!`!/9:F)=#_M*=[=T5'W5F MC'EJ=F#D)DL-BX))ZM$_A6QND(N)KB21KQ;R20LH:1P@C MVG"@;2@"D8Y'OS31X4LQ875C]HN?LT\;Q;`4&Q6;)P=N3CH-V<"@":'Q-ITT M_DYN(W\QH?WL#*/,6/S"N2.NP$X]C4SF^U7,K6AS'OV`?<9.=JC/#$YZY M[U)H_AZVT0Q?99KAE2SAL]LA4AEB!"L<`'=@G../:@#+L_%X:XG%^+>W",R& MVRWVB-MX5`4(^8,"3N'RC'4CFM+_`(2?2S%%(LLKB1&DPD+,456VL6`'&&X_ M`^AJM+X/M)Y+:2>^OI7M,BV:1D8Q`L&(R5^;[H'S;N/?FK)\/Q;XG2^O8I$B M,3O&ZJ9%+;L'Y>.<_=VX!/M@`2Y\4:7:?9O,DE+7._R52)F+;9$C(P!_>D4? MC5&?QC!#=WUJ83NMHI)3(58(H4)PW&<_..@/:IF\'V;WMI7C?9'=X8RR; M5W3)*1]W)&Z-1R>F?K1=>#["[N;R=KB[1KQ95F",N"'"`@94XQY:D?CG/2@" M<>*M((N&^TG;`C.6V-AE5MA*\<_,0/Q'8YI-5\0)8Z-#J$85$DN(X";K,0CW M2;"S9[#D^A]<*[NDBD5D51L_=@MNX^7YO3YMW''K3X/#EG;Z M7;Z>CS"&"Z%TF"H^82>8!@#`7/&`!Q0`Z/7['[/YCW44N'AC+V^70M+)Y:8/ M?+$#VJ'_`(2W2=Z)YDP>1F6%3"V9F601L$XYPQ`/USTJ6^\/P7]X;A[JYC#2 M6\CQ1E-KM#)YB9RI(Y`S@CBJS^$+%I+&5;F[CELC,T#JRY!EE61B4P/8 MGJ<$`%O1-9_M>U\XV\D1,UQ&`4.`(IFC&21PQVYQUZ^E)9:Q+57>`/E)P2!D]#Z5-I>E+I4(ABNKB2/?-(PEV'<\LAD9CA1T+$#& M!@]">:K6WANUB^TK=32ZC%<2&5X[V.)U+YX/"`G`X&2<#`%`"6NO?:=>GT[R MH42)VC#M*V]V"JQPNS;_`!?WLXYQ46K>)#I-])9S6Z^;+&&L27PL[9PX)Q\N MSAB>?ER>QJXFAPKJ,5X;FY<0,SP0,R^7$67:=O&<8S@9P,GCIB74-)MM3EMW MN-Y$!?PP`;$$R7%O'/'NV M2*'7ATO4#%XDF4R6KVA\M@/D9E8GD'G*B M@!D?B?39;XV2M/\`:5D$;Q>0VZ,G;C<,<`[U.?0Y/%9W_";6Y-FWV.?%S*T2 MQE?G!$PBW>F,GUSVJU<>$;&YU26_>XN=\MS'=%`4VJZ+&HVDKN7B(`X()R>> MF&-X-L2\;B[O%:&1I(2&3]V6F6;`^7D;E[YX)]B`";4?%-A86#7($LQ\B:=( MT0Y98G5'Z],,ZTA\5Z?%-=QW#LK6S,9`D;-Y4:JI+/QP!O\`\X.(Y?!]G.LB M27=XT;6]Q;HFY,1K,ZNVWY&3$RLJJ01M MXX7M@_,?;`!9F\3Z9;W,L$CS!HY6A)\EB#($\PH#CEMN3@>E`\00S7EA!;H6 M%Q_M MQ4MCX8LK"2W>*68F"YDN5!V`%G0H1A5`Q@\`8H`RM2\87.GW6HHUO;#[('*V M\KLDTJ*F[S4XPZD_+A?F&1HY(_);>A5!(`RD?=0$'J"3SVH`F_X2G2S'-(LLICBD2(N(FVL[!2JJ<`7+%//C$QVH# MC?M;;EL=Q?)R-N,8QCG/?I4CNL:,[L%51DL3 M@`>M+0!B>,)7@\'ZM+'(8W2V7*.'M+QV MBCA"`R*LF"5/R@''3SE/&:]#HH`\X.J7D3:7J-S\/VT<>L^(=H;]S?K%&"Y(1#;0, M0,G@;F8_4FNAHHH`****`"BBB@`HHHH`****`,2SNO$CZNT=[IFGQ:=N;$T5 MXSR8YV_*4`YXSS1;W7B1M:,5QIFGIIF]@)TO&:3;SM.S8!D\9&>,]:VZ*`,7 MQ=,]OX1U6:.1HF2W9@ZMM*\=<]JYSQ/JNGW5T+FVU.UO([>T>]HH`XBYU%S!K%F+ITOGU:W\B!I,2^6Q@/RKG.W&_...& M]#20R0_\)@Z/,MY]HO)(B%F=)[?]TV4>/HT6!D'CEE.#G-=Q10!Y[!#,5TM; M>,3O+K&HQ.DURZ*Z))8A=-U-GM(HUG9U0!0 M8F`(``/ER$-U/FKGH*[>B@`HHHH`****`"BBB@`HHHH`****`*<)X(I]'(FG: M%$D63=]G:=#MYQ(B]4XYZ?6LU(;^X32KN/3_`+'>&PG0QHI"1-A=@_V1GD`\ M]NU=60""",@]J*`.)T![BTLI[01217EQ91B"0VLD.^<1L6!#9&1\IWG[V<$G M;QE16-R)8"^GW1TH6Z"6#[(^3<"!@6V;!G..?6B@#A/#MGJ ML6IV)OH9_MR2N;N=HSAXO(4*-^,-\^W@'J#[UV.HWRZ=9FX:*2;YTC6.+&YF M=PB@;B!U8=2*M5E^(/\`D&P_]?UI_P"E$=`!_:M[_P!"_J7_`'\MO_CM']JW MO_0OZE_W\MO_`([6I10!E_VK>_\`0OZE_P!_+;_X[1_:M[_T+^I?]_+;_P". MUJ44`9?]JWO_`$+^I?\`?RV_^.T?VK>_]"_J7_?RV_\`CM:E%`&7_:M[_P!" M_J7_`'\MO_CM']JWO_0OZE_W\MO_`([6I10!E_VK>_\`0OZE_P!_+;_X[1_: MM[_T+^I?]_+;_P".UJ44`9?]JWO_`$+^I?\`?RV_^.T?VK>_]"_J7_?RV_\` MCM:E%`&7_:M[_P!"_J7_`'\MO_CM']JWO_0OZE_W\MO_`([6I10!E_VK>_\` M0OZE_P!_+;_X[1_:M[_T+^I?]_+;_P".UJ44`9?]JWO_`$+^I?\`?RV_^.T? MVK>_]"_J7_?RV_\`CM:E%`&7_:M[_P!"_J7_`'\MO_CM']JWO_0OZE_W\MO_ M`([6I10!E_VK>_\`0OZE_P!_+;_X[1_:M[_T+^I?]_+;_P".UJ44`9?]JWO_ M`$+^I?\`?RV_^.T?VK>_]"_J7_?RV_\`CM:E%`&7_:M[_P!"_J7_`'\MO_CM M']JWO_0OZE_W\MO_`([6I10!E_VK>_\`0OZE_P!_+;_X[1_:M[_T+^I?]_+; M_P".UJ44`9?]JWO_`$+^I?\`?RV_^.T?VK>_]"_J7_?RV_\`CM:E%`&7_:M[ M_P!"_J7_`'\MO_CM']JWO_0OZE_W\MO_`([6I10!E_VK>_\`0OZE_P!_+;_X M[1_:M[_T+^I?]_+;_P".UJ44`9?]JWO_`$+^I?\`?RV_^.T?VK>_]"_J7_?R MV_\`CM:E%`&7_:M[_P!"_J7_`'\MO_CM']JWO_0OZE_W\MO_`([6I10!E_VK M>_\`0OZE_P!_+;_X[1_:M[_T+^I?]_+;_P".UJ44`9?]JWO_`$+^I?\`?RV_ M^.T?VK>_]"_J7_?RV_\`CM:E%`&;::LUQJ!LIM/N[27RC*OG&,AE!`.-CMW( MZUI5DO\`\C=#_P!>#_\`HQ*Q=6\7367C6VT-1:6T917WWLK1"ZW'&V(A"-RX MZ$C)('O0!V%%<5>^.Y['4/$=G/I(1M'L6O$87&[SQSMXV_+G`)Y.,UH>$/$T MOB.*Y-P+%)8?++16TLC,@89&\.BX]L9!YYH`Z6BN*;QAK?\`;L&D#0(4NKN* M>6WC>[^:-8S@--A2%5^V">>*I6_Q"U$V&IRW.E6PGM[Z/3[18+EG2YG/WP&* M@@(.2<'H?2@#T*BJNF:A;ZMIEMJ%HY>WN8Q)&Q4C*D9'!Y%%`%JBBB@`HHHH M`*R_$'_(-A_Z_K3_`-*(ZU*R_$'_`"#8?^OZT_\`2B.@#4HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`***RGUVWDT^TOM-CDU2WN9UA62RPX4$E2Y.<;5(.30!JU6N]0 ML[&2V2ZN8X7N91#"';!D<@D*/?@U`(=1EU&]6XF@&FR1*L"Q!EF5L'<2V<>F M,5$EKIFAZ/:Q7EPGV:R`\NXOY0Q4@'#%V[XSS0`?;;^\DU>SM[*2TEMU"VMU M<*#%,[(2&`!R0IQFG&TU:6/2F;4TAE@*M?+%`&2Y^7!49Y0;N01SVKE[SXJZ M,;EK+0K6]UZ]''EV,)*`^[GC'N,TJ>*?';1JW_"NNHSSK,(_0CB@#JX[*[6_ MOYGU.5H+A46"`1J!;$`@E3C))//.<8JN-%N3I6GVH>)-8N+;6)/[3N;5; M:YCM;M0\"J&;::&74=(\07MQ<7=Q;F>_:529(X#M,?R* M`00&!]22&=(T.U\-V,& MD.MU81Q[8I]X;S!DY)(P"RAUR;?J*AO-,A$C8WDJ"P."0 MNT$^U%`&]1110`4444`%9?B#_D&P_P#7]:?^E$=:E9?B#_D&P_\`7]:?^E$= M`&I1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!166^LQW"ZK!I2K>:CIXVO;L3&/,*[E4L1CD$739U>UM;< M*S7\,F7;E>`C#CANI[T`:=%+=!+%&]J-N#M.\G2""2W4RJ[MD#E<\<'GI7"Q?$'06U*\OM(\*Z M_?WEXB)/)!8DB15!"@Y;L,CI4UIXC\7FVCM-`^'BV%K&-J?:[E(50?\`7,`' M\J`.X2[NWU6XM#82);QQ*\=VS@I(QSE<#D8P/\]:B66LWND6*7^H1VFH13++ MDJ>UK`TS+_WV"/UH_P"%;ZE?<:UX MYUV[7NELXMT;ZJ,B@#JIX=%TK5I]9NIX+6ZGA6%Y9KC8"BDD<$X'7K7-W?Q, M\*Z4RZ=HRR:I<#/EVFDP>8.3V(^7J>V:?:?"3P;;/YLNFO>3'K)=3NY/U&@ M^A`^M3VOPKTJ:=;OQ%?W^OW8Y#7DQ$:_[J`\#V)(KIM0\4:#I,HAO]7LH)BP M41/,N_)_V>M2RZPD6OP:1]CO7>:%IOM"0Y@0`XPS]F/I_C0!9L[&TTZV6WLK M6&V@7I'"@11^`JQ7$:BOQ&U'4[F#3WT?2=/21EAN7!FFD7/#;>5''8@?C6MI MFA:Q;>'KNPO_`!)AY_&@#H:*Y_4_#5SJ7A^TTP^( M=5MI8-N^\M91'+-@8^8@=^O'I618?#@6FH6U[/XL\37@#MZ*SO[&MQX@.M>=<_:#;_`&?R_./E;MI_^1NA_P"O M!_\`T8E<]XMM]+OO$&G:=JNOM':SNLCZ8R1394,=I(!XS@\54O-*\-WVL:Y=G73%>3VBP7@@O40VR(?O9'*$$=6...G M6H],T;3[Y+R\T+Q)/=7ES>V\M[>+.A9ECP/+(C4``ID8P,YSS0!4T[Q[J&K: MM=6-I::8L@GN(;6*>YE22 M+H7C&W#[27);9G`(4<#DD\\:63Q=/-=V!N9(XI[Z-_L9==LA!(W M?*.S$A?2HHM-\&P^'M+^R>($@M]'N,PWD=S&7\Y@<[]RE69@2<;?I0!U/AK6 M6\0>'+'5FM3:FZB\SR2V[;SZX&?7I12>&=/T[2O#EG9Z38)/,W M,6+;AP3Z M5)97;/;7=K*W[^(`[UQ@M@#!R2"!@<4`=#17.Z;J%^-/U*]DF-Y;0Q[K:5D5 M?.*H2Y7:/N$\*>IY/(P3BQ:_JSWT&GF\<>;:I=&Y\M,J3"S%,;<8W`'UQQF@ M#O*R_$'_`"#8?^OZT_\`2B.L#0/$>HZG MIQ\U;GB66.#2$EFD6.-+RT9W22>@H`UZ*@M+VUOX?.L[F&XBSMWPR M!USZ9%3T`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444R66.& M)Y976.-`69W.`H'4D]J`'U!=7MK8I&]W<10+)(L2&1PH9V.`HSW/I6+K7BVS MT&:UFO?+329X6D-_YZ[01C:JH/F?<#GY@S7MFLQFCU; MQ&P(W;BRLJXR=N?E(SC`XH`]%DU*0WM[:&WFMD@@$BWTRCR"3G@'/..IK@[_ M`,<:))_9=H[7'B77[)Q,%T9'$9D`P22#@KS[_3FKD?PTGUB5;CQEX@O-88'< M+2-O)ME/^ZO7ZC%=?:V6B>&-/V6\-EIEH.I&V)2?<]SUZT`<<+;XB^*>;FYM M?"]@_P#RR@_?7)7W;H#[C!'I4L?P?\-2%6U*74]3<,=Q]?EQ[_G6OJW MQ$\*Z/I\=[-K%O/%(Y1!:L)BQ'7[N?S/%4Y_B)%)X5M==TO0M4OH[JY^S10B M+:Y/.&XS\I(QGUH`MVGPW\'66/*\/638_P">R>;_`.ADUNVNE:=88^QZ?:V^ M.GDPJF/R%<5=>(/B-?6T;:5X/M+$MG+(1SQ\H*XXYYS_`(II^B_$I[2Y MN;[Q/8PWLA"Q6ZVJO%&N02W$=O;1+NDED.%4 M5QLWQ>\'++Y5M>W%Y)TVVUK(Q_4#-1:7\.KVU\'W^@WOB.>4WES]H,\4(4KG M&5^8G(.,]O\`'0T[X?V^G^'+S1AKNMR)=,K&*` MY(!/R`AA@Y'X4^P^'^EV&DZCIHO=4F@OPHE,UVQ9=I)^4C&,YY]:-,^'>@:7 MI^H64:W4E@7)C/.2^X_ M3]:K+;6NK>%+C2-=\4PW\RJ9KJZLY4@98U;=R%/"@8!-3Z3\//"VB07<-CI8 M1+R$P7&^:1_,0]0D>#/#F@O*^F:1;P/-&8I&`+%D)R5.XG@X''M0 M!R7ABU^%L5U)#HD5E>7=O$UPS/&\[A5QE@6!YY'"UO:'\0-/\17SVNGZ;JS; M8FE\Z2UV1G'\.XGJ>V:Z.TTVQL`19V5O;`\'R8E3/Y"K-`')Z%XHU_5]5%O< M^#[O3K+:Q-U9+#=%W7@XP,<\ MXKJZ*`.4TZ_\;R:Q'%J&B:9#IY_P#&[:VL5QHFF)IO MGE6F2[)<1Y^\!CDXKJZ*`.4^W^-_[=\K^Q-,_LO[1M\_[6=_D[OO8QUV\X]: MZNBB@#)?_D;H?^O!_P#T8E.>22/SI/#BZOH4%]JVIZ%T>XA%NXEV[!%EMP)(&[?T`..PJ: MQ\,^(/[6L_$5YH<[:F-1%Q>PB>`!T\IHT$0\PC;&,?>()S^7K-%`'.^!-'N] M!\%Z?IM\BI>M+]BM#&D?V6'9&AC1?+&%0C!4#L"`!BIZ*`,ZWT'2;.>*:UTZUMWBSM M\F)4ZC!Z`9XXIW]B:3]G^S_V79>1NW^7]G3;NQMSC&,XX^E7Z*`*Z6%G'=M= MI:0+O2@`HJE-J M^FVYN5EO[96M0&G0RC=$",C<.HR`2/6O-_%?QKTO3!:?\(^8-4,BLTN[>@08 M^7D@L^)M2U3 M3_"EO!JFERQB%KF]M]EK;#!$A+'F0'T(_`BN,L-%\1^+@-2%A)JL5Y<272P3 M3/#8P.3R2&.Y^V`"./7D5WEM\+;[5K2*'Q5KTLEM& MI).23[DUH4"/.E\*>/M76.+7/&,=I`N2RZ3'L=_^!X4C\JTK;X9Z-]D>TU6Y MU'6K?S!)"FHW+/Y)P0=I7'7.3^%=G10!R%C\+_!>GX\O0;>0CG-P6ES^#$BN MK@MX;6!(+>&.&&,;4CC4*JCT`'`J2B@`HHHH`****`"BBB@`HHHH`****`"B MBB@`HHHH`****`,E_P#D;H?^O!__`$8E:U9+_P#(W0_]>#_^C$K6H`****`" MBBB@`HHHH`****`"BBB@`K+\0?\`(-A_Z_K3_P!*(ZU*R_$'_(-A_P"OZT_] M*(Z`-2BBO.'UCXL3W,B0>&M&MHM[;'GN-^%[?=DY/X#Z"@#T>BO,)-*^,%ZY M8Z]HEBA."D4>[`]1F-C^M1-\-_&=[,!J/Q!O3;.P,J6^]"PQ\P&&`'.1TQWQ MVH`]39U12SL%4=23@"LV3Q'H4)82ZUIR%?O!KI!CZ\UYO?\`P*MKZ^\V3Q+J M+P`C"3J)'`[_`#DXY^E3)\`O"X4;]0U=F'7$L0!_#RZ`.WE\;^%(2H?Q)I.6 M.!B\0]L\X/`]ZI/\2_!B2R1GQ#9[D`)()(.?0@8/X=*YNX^!'A.>X>5+G5(% M8DB.*9-J^PRA./QI)O@/X3E<,ESJL(`QM2="#[_,AH`U9?C!X,CM(;A=1>0R M,%\I(CO0$XRP.,`=3SG'8U"_QH\&)J+VWVZ9H5BWBY6W?8S9QL`QNSCG.,>] M/U;X1>'M5:S/VC4+-;2%(HTM)$125_C.4.7/=N^!4NK_``G\-:W)9RWOVPRV MUNEOYBRA6F"]&<[>6/<\4`9#?'+P^VFRS6]G>37:N0ML$QN7=C=NQ@9'/Z4D M_P`<_#\=Y$([&_DL6#"2Y\O:5<8PH4]>O/(Q[UN-\)O!+PP1R:(C>2FP,)I% M9O=BK##_`/HQ*UJ`"BBB@`HHHH`****`"L:77#'X@?31%$!'#YI$DA62;@G]TN/G M`P0>1R1^.S61J>@IJUU$UW)[?5M M/NKW:BPVR+(SPR^:N"F\C.!\P'4=N*J)XP9Y8[86"_;9(EG2(SG;Y1C+Y+;> MORD8Q^-7+3PTEG(0M]<30RPB"=)@A\R-4*HORJ,8R3D\1A"@3[F,8)/3.>]`"Z9XK@U2YMA#`1:W3M%#*6^8NL8D(*XX&"> M<]1[U=\0?\@V'_K^M/\`THCJ&P\,6&FW44MNTPCA9GB@)79&Q0(6'&[.!W)' M)JY>)8ZIILBR3AK8,',L4N-A1@P.X'C!4'\*`+U%<_!9:;="0V^N7DHC&9-F MHL=@YZ\\=#U]*@T_38VLEEN]6U`&6YE2%A?-AU,C>7C!YR@6@#IZ*YPV^D"` MSGQ#&;6;YKKS)6$:WYW>5YA\LX!Z%"A_$4`=116/' MHEO-&LD6IZDZ,,JRWKD$>H.:=_8$7_00U3_P,?\`QH`UJ*PQI5D5F8:O?D0Y M\TB_;Y,:4@ZB05AWL48C/`V%#D^M`'5T5A6NF6 M-]#YUIK-]<19QOAU!G7/ID&I_P"P(O\`H(:I_P"!C_XT`:U%88TJR*S,-7OR M(<^:1?M\F.3GGBJ.F65O+%(ESK5[]H62:39_:!W"'S&V,0#P-A0Y]Q0!U5%8 MD&DVEU$);?5]0FC)(#QW[,/S!J7^P(O^@AJG_@8_^-`&M16&-*LBLS#5[\B' M/FD7[?)CDYYXK/L;>S%M*;[7KI)4DE*68OMU`G9'YC["V#Q\@'6@#JJ*Q8- M(M+J(2V^K:A+&.^9@<<=0:D_L"+_H(:I_X&/_`(T`:U%88TJR*S,-7OR( M<^:1?M\F.3GGBJ&E6EK<65Q)/KEXS0RS%RNHGY(_,?86P>/D`ZT`=716+!I% MI=1"6WU;4)8SG#QWS,#CCJ#4G]@1?]!#5/\`P,?_`!H`UJ*PQI5D5F8:O?D0 MY\TB_;Y,PFFN-8OCYBV\T:R1 M:IJ,D;#*LM\Y!'LUB>-)-5U!'D.$5KY@6/MSS0!M45S\]GIEJ7%QKMY#L( M#>9J++@D9`.3Z`FHM*TGS;?RKO5-0^V*6+QB^;N./J*`)J***`"BBB@`HHHH`****`"BBB@`KG?[*NCI5QIP@"17=_)Y MN&7`MV8LW&?XE&W'7YO8UT5%`'-:3I]T-=DN9M.-K:FT\CRY&C95.\G$>SJI MY)W#/(QW%1V^C7\FG6=I*GD?9+*0(=X_U[@H",'C:I;G_;XZ&NIHH`X-=&U/ M[/.6TJX5I;&*U4QR0&2)DC(9@&8KAMVWKGC\:[/3HI(-,M(9DC26.%%=8R2J MD*`0,\X^M6:*`.=NM*NII]3@2`"VU"XB$CAE`\D(/,R,YYP5]?FSTK,N]"UJ M:\N$MOW+&ZN)TNWD&W9)$$`&"6R,]QCY/I7:T4`9'AJSN]/T86MY%%$TVTC`[#'TK7HHH`YVZTJZFGU.!(`+;4+B(2.&4#R0@\S(SGG! M7U^;/2LG4-`U*YN+E#:S21_:KBX\R.9%,J/$%5%))PV?[PQ\G7I7<44`9>AQ M7T5M<"]$JJ;AC;I-('D6+C`9@3GG=W/!%:E%%`'.W6E74T^IP)`!;:A<1"1P MR@>2$'F9&<\X*^OS9Z5B:SX2$'F9&<\X*^OS9Z5473=4M]9>Y6TDF6&\N;M6$J`3*T6U M(QEL@YP.0`-O7I76T4`9^BZ>^G::D<[![N1C-V>!Z``=JT***` M.=NM*NII]3@2`"VU"XB$CAE`\D(/,R,YYP5]?FSTK$/A_6&TVX@^S-YL=C-; MAFE7]^[S;PR_-U`!(W8Y89[UWM%`&-XE8\7A_5 M/LK1RVTNZ"UDBR)4S.YN!(&7D]`N<-C.['&21W5%`&/X=LKNTM[Q[T%9;F[> M?:=HV@@#HI(&<9QD]>23FMBBB@#G;K2KJ:?4X$@`MM0N(A(X90/)"#S,C.>< M%?7YL]*CU/1[R>T\01V\05KMHVA`8#S,*NX=>,X(YQUKIJ*`,K0[6X@&H37$ M30_:KQYDB9@2B[57G:2.2I/![^M:M%%`'.W6E74T^IP)`!;:A<1"1PR@>2$' MF9&<\X*^OS9Z5?L;)X=3U622%1#UER#@_A6C110!SO]E71TJXTX0!(KN_D\W#+@6[,6;C/\2C;CK\WL:DFL MIH?[=E&F+>+.R/#;[D43$(HY).!\PZG]:WJ*`,GP_:RVUA(US#-'=3S--/YN MS+.<<@(S`+@``9S@<\\F35;.2YGTV2*,,8+L2.<@%5VL">?WIGDED@>+S("Z[57YSM/R!4)![?B+EG8WEC<,Q?UQFI/# MUE=6][J-Q<6CV\=QY7EK*T9==J8*_NSMVKP!WZY[5OT4`%%%%`!1110`4444 #`?_9 ` end GRAPHIC 5 gov25ar30063ss.jpg GRAPHIC begin 644 gov25ar30063ss.jpg M_]C_X``02D9)1@`!`0$`9`!D``#_X@H@24-#7U!23T9)3$4``0$```H0```` M``(0``!M;G1R4D="(%A96B````````````````!A8W-P05!03``````````` M````````````````````````]M4``0````#3+``````````````````````` M``````````````````````````````````````````````ID97-C````_``` M`'QC<')T```!>````"AW='!T```!H````!1B:W!T```!M````!1R6%E:```! MR````!1G6%E:```!W````!1B6%E:```!\````!1R5%)#```"!```"`QG5%)# M```"!```"`QB5%)#```"!```"`QD97-C`````````")!"!3;V9T=V%R92`R M,#$Q`%A96B````````#S40`!`````1;,6%E:(`````````````````````!8 M65H@````````;Z(``#CU```#D%A96B````````!BF0``MX4``!C:6%E:(``` M`````"2@```/A```ML]C=7)V````````!``````%``H`#P`4`!D`'@`C`"@` M+0`R`#<`.P!``$4`2@!/`%0`60!>`&,`:`!M`'(`=P!\`($`A@"+`)``E0": M`)\`I`"I`*X`L@"W`+P`P0#&`,L`T`#5`-L`X`#E`.L`\`#V`/L!`0$'`0T! M$P$9`1\!)0$K`3(!.`$^`44!3`%2`5D!8`%G`6X!=0%\`8,!BP&2`9H!H0&I M`;$!N0'!`$!Z0'R`?H"`P(,`A0"'0(F`B\".`)!`DL"5`)=`F<" M<0)Z`H0"C@*8`J("K`*V`L$"RP+5`N`"ZP+U`P`#"P,6`R$#+0,X`T,#3P-: M`V8#<@-^`XH#E@.B`ZX#N@/'`],#X`/L`_D$!@03!"`$+00[!$@$501C!'$$ M?@2,!)H$J`2V!,0$TP3A!/`$_@4-!1P%*P4Z!4D%6`5G!7<%A@66!:8%M07% M!=4%Y07V!@8&%@8G!C<&2`99!FH&>P:,!IT&KP;`!M$&XP;U!P<'&09!ZP'OP?2!^4'^`@+"!\(,@A&"%H(;@B"")8(J@B^"-((YPC[ M"1`))0DZ"4\)9`EY"8\)I`FZ"<\)Y0G["A$*)PH]"E0*:@J!"I@*K@K%"MP* M\PL+"R(+.0M1"VD+@`N8"[`+R`OA"_D,$@PJ#$,,7`QU#(X,IPS`#-D,\PT- M#28-0`U:#70-C@VI#<,-W@WX#A,.+@Y)#F0.?PZ;#K8.T@[N#PD/)0]!#UX/ M>@^6#[,/SP_L$`D0)A!#$&$0?A";$+D0UQ#U$1,1,1%/$6T1C!&J$)%ZX7TA?W M&!L80!AE&(H8KQC5&/H9(!E%&6L9D1FW&=T:!!HJ&E$:=QJ>&L4:[!L4&SL; M8QN*&[(;VAP"'"H<4AQ['*,0!YJ'I0>OA[I M'Q,?/A]I'Y0?OQ_J(!4@02!L()@@Q"#P(1PA2"%U(:$ASB'[(B--@U M$S5--8Y",$)R0K5"]T,Z0WU#P$0#1$=$BD3.11)%546: M1=Y&(D9G1JM&\$25^!8+UA]6,M9 M&EEI6;A:!UI66J9:]5M%6Y5;Y5PU7(9O5\/7V%?LV`% M8%=@JF#\84]AHF'U8DEBG&+P8T-CEV/K9$!DE&3I93UEDF7G9CUFDF;H9SUG MDV?I:#]HEFCL:4-IFFGQ:DAJGVKW:T]KIVO_;%=LKVT(;6!MN6X2;FMNQ&\> M;WAOT7`K<(9PX'$Z<95Q\')+%V/G:;=OAW M5G>S>!%X;GC,>2IYB7GG>D9ZI7L$>V-[PGPA?(%\X7U!?:%^`7YB?L)_(W^$ M?^6`1X"H@0J!:X'-@C""DH+T@U>#NH0=A("$XX5'A:N&#H9RAM>'.X>?B`2( M:8C.B3.)F8G^BF2*RHLPBY:+_(QCC,J-,8V8C?^.9H[.CS:/GI`&D&Z0UI$_ MD:B2$9)ZDN.339.VE""4BI3TE5^5R98TEI^7"I=UE^"83)BXF229D)G\FFB: MU9M"FZ^<')R)G/>=9)W2GD">KI\=GXN?^J!IH-BA1Z&VHB:BEJ,&HW:CYJ16 MI,>E.*6IIAJFBZ;]IVZGX*A2J,2I-ZFIJARJCZL"JW6KZ:QK_UP'#`[,%GP>/"7\+;PUC# MU,11Q,[%2\7(QD;&P\=!Q[_(/%$XIZ#+HO.E&Z=#J6^KEZW#K^^R&[1'MG.XH[K3O0._,\%CPY?%R\?_R MC/,9\Z?T-/3"]5#UWO9M]OOWBO@9^*CY./G'^E?ZY_MW_`?\F/TI_;K^2_[< M_VW____;`$,`"`8&!P8%"`<'!PD)"`H,%`T,"PL,&1(3#Q0=&A\>'1H<'"`D M+B<@(BPC'!PH-RDL,#$T-#0?)SD].#(\+C,T,O_;`$,!"0D)#`L,&`T-&#(A M'"$R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R M,C(R,C(R,O_``!$(`+D!LP,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0`````` M`````0(#!`4&!P@)"@O_Q`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q M008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4 ME9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+C MY.7FY^CIZO'R\_3U]O?X^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4& M!P@)"@O_Q`"U$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R M@0@40I&AL<$)(S-2\!5B7J"@X2%AH>(B8J2DY25EI>8F9JB MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR M\_3U]O?X^?K_V@`,`P$``A$#$0`_`.PU?Q9K/VKQ+=PZJ;"UT:YBMXHUL_.C M?(R[3$*SA>H!4KC(S6M+\2(X[B^C72+B1+6ZCL_-65`KRR$;``>0.2JJW21W,L:3[?NEU5@"1V-/;P=H+07L)L?EO)DGF(E?) MD3&U@=V5(P/NXH`YR;XIVEJ][#=:7<1W%H)49%D#"29'13&A[Y\U"#COTJOJ MGQ,GEMH9=$LD:WEN?LWVB9NI,`ERH'<9`YR.*ZA/!/AY)+24Z?YDUIK MIQG,@&;AERHV]=N2`6[>AK_#,:V(DO\` M5Y8&FAAP%5CV7`QQQTZGUK+'C#4[;P%J6I6=[!>7^FL#'!W#ZYS5"T\':5#HEYIE MRDMXE\,(`",9/4\UJW?@[ M0;V>*:XL-SQQQQ8$TBJZ1D,@=0V'P0"-P-5IO`>AWEY>W5[!+-)=2NY(GDCV MJZ*K)E6&5.W)!XY/%`'*ZC\1=76QGU&S@LXX++3+*_GAE1F,QG(RH8,-N`3C M@\U?T/QKJVHZ_I*SI:"PU6YO;>.)$820^0"5);=ALX.>!CC%=+>>#]!O[F.> MXT\%TCCBVI(Z(R(P9%95(5@"`1N!I]EX4T73]3_M&ULO+N=TC*?-*`,34?B!'97M MU#%ILLL,%ZNG&G?)]ZL3^#]#N=2:_ELV,S3"X91,XC:4#:)"@.W7+FYD8K*D7R12% MI./;'J:T?^%IVA9G32[AK9;I+7S?,4$L\9D4[?3"G/I[UM-X`\,M;06PTTI# M#!);*L=Q(F8W.65B&RV3SSGFGQ^!?#<2!$TP;!<)<[3-(1YB(44\MSA21CH> MXH`H0?$&UFA$HL95!T9=6^:5%&UF*A"6(`/'4G%9T7Q3BGO$L8='FFOGNEME MCCG4J2R;U(QBEM/L3*]S*_[G=N"#+'`!Y&.E.@\ M#>';?4([]+%S=QRK,LKW,KMO5=H)RQSQQS0!!X?\:Q:_J*6$=A+#<+',URKN M#]G,%VT74]8U6[GAGO]3F#R&&(QHBJ.%`))ZDDG/)-6?^$1T/^U?[2^Q' M[1]I^UX\Z3R_.QM\SR]VS=COC-`%#PAK^J:QJ.O6>J+:"33;E8%-JK!6^7)/ MS$FKOBG4+_3+!+JVN;*TM8RS7=U=*7\M`.`B`C)X])N;VXL+*SFTVQM[J[MI(W)F,LA7`.[Y/DP<')R<&NKOO$.KV MGQ!MM#"6)LKFSEN(F8,'!0#AFS@#=GH.F*NR>"/#TSQ/+922-&BIE[J5O,57 MWJ),M^\PW(W9Q5^[T'3+_4X]1NK19;J.![=79FQY;_>4KG!S[B@#G_"_B#6K MSQ/?:/JYLV,%JDX:&%XLL6*ML#$F2,8X?`S^/'95CZ1X7T?0IS/I]JZ2^2MN M'DGDE*Q+R$4NQVJ/08%;%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`')7KD,`1^5 M):^*=-DG2V>^MIY7=4WVA+Q@L<*"PXR2/Y>HK3U*PBU73;BPG9UBG0HQ0@,` M?3(-5I-$@?5FU!9IHY'*%T7;MGQ:I;6^'-M-#,ZS M^6P#NDD485./FR9#SVVYZ'-6H?%.EW/F^2\[B*+S9"L#D*,L,'C[V588ZY%5 M9/!=C)/:RM>7O^AB06RYC*Q!Y$<@93G[@7YL\$_6K)\+VC6U]"US=$WD212O MN4'"EB",+C^,Y&,8XQB@"(^+]-6\>!UF1(H999I6C($9C8*5(ZDY8=.N1ZU% MJ7C73[32;^ZMEDN+FTMYIC;B-LKL7/SD#Y08LH?; MY:@[RC=`F!AD4C&/?(XJ2[\(6UY;W4+W]\GVJWDMIVC,8+QOQC&S`QSC`'4Y MS0!I7NH&TU+3;41AA>2O&6SC;MC9\^_W<5F7/B.>/1KF]CM1F&^>U8X9UC59 M"AD8*,X`&2!^8'-:NH:9'J$EK*9IH)K60R12Q;<@E2I&&!!!#'M51?#R1PQQ MPZC?1;)FG+(R`M(S%F9OEP<[B,?=QT`(!`!/9:F)=#_M*=[=T5'W5F MC'EJ=F#D)DL-BX))ZM$_A6QND(N)KB21KQ;R20LH:1P@C MVG"@;2@"D8Y'OS31X4LQ875C]HN?LT\;Q;`4&Q6;)P=N3CH-V<"@":'Q-ITT M_DYN(W\QH?WL#*/,6/S"N2.NP$X]C4SF^U7,K6AS'OV`?<9.=JC/#$YZY M[U)H_AZVT0Q?99KAE2SAL]LA4AEB!"L<`'=@G../:@#+L_%X:XG%^+>W",R& MVRWVB-MX5`4(^8,"3N'RC'4CFM+_`(2?2S%%(LLKB1&DPD+,456VL6`'&&X_ M`^AJM+X/M)Y+:2>^OI7M,BV:1D8Q`L&(R5^;[H'S;N/?FK)\/Q;XG2^O8I$B M,3O&ZJ9%+;L'Y>.<_=VX!/M@`2Y\4:7:?9O,DE+7._R52)F+;9$C(P!_>D4? MC5&?QC!#=WUJ83NMHI)3(58(H4)PW&<_..@/:IF\'V;WMI7C?9'=X8RR; M5W3)*1]W)&Z-1R>F?K1=>#["[N;R=KB[1KQ95F",N"'"`@94XQY:D?CG/2@" M<>*M((N&^TG;`C.6V-AE5MA*\<_,0/Q'8YI-5\0)8Z-#J$85$DN(X";K,0CW M2;"S9[#D^A]<*[NDBD5D51L_=@MNX^7YO3YMW''K3X/#EG;Z M7;Z>CS"&"Z%TF"H^82>8!@#`7/&`!Q0`Z/7['[/YCW44N'AC+V^70M+)Y:8/ M?+$#VJ'_`(2W2=Z)YDP>1F6%3"V9F601L$XYPQ`/USTJ6^\/P7]X;A[JYC#2 M6\CQ1E-KM#)YB9RI(Y`S@CBJS^$+%I+&5;F[CELC,T#JRY!EE61B4P/8 MGJ<$`%O1-9_M>U\XV\D1,UQ&`4.`(IFC&21PQVYQUZ^E)9:Q+57>`/E)P2!D]#Z5-I>E+I4(ABNKB2/?-(PEV'<\LAD9CA1T+$#& M!@]">:K6WANUB^TK=32ZC%<2&5X[V.)U+YX/"`G`X&2<#`%`"6NO?:=>GT[R MH42)VC#M*V]V"JQPNS;_`!?WLXYQ46K>)#I-])9S6Z^;+&&L27PL[9PX)Q\N MSAB>?ER>QJXFAPKJ,5X;FY<0,SP0,R^7$67:=O&<8S@9P,GCIB74-)MM3EMW MN-Y$!?PP`;$$R7%O'/'NV M2*'7!([>-)8V<37;E(W<$`1!\85CG@M^`/;0A MT33X].L[*6WCNH[-%2%KE1(PP``.U1ZIH<>JF427EW%'/;FVFBB9=DB' MU#*<'DC(P>?88`(;OQ7I%C-<13W#`P;@Y6-B-RKN900.2!S^![@TV?Q38IIT MMS&S*Z+*3'-&RE?+(#;A@D#YE[?Q#UIEQX2L9TNXOM%S'!=;B\2%,`LN"02I M;WP21D]*DN?"UA=3:K*[SAM2C$W<;02"19D90Y.3G M(V[2#DC&,>F,"@#*7Q;'`;=KQ86MWM)KI[FT8S1A$<+NR!]TJ=Q].G-7[WQ- MIFGR3)9$RX95WLO3J%YQ['N#5[3M1@U2V^T6WF>7D#+QEZ)9W$,S7ERCA[2\=HHX0@,BK)@E3\H!QT\Y3QFO0Z*`/.#JEY$VEZC MXB#6\-QG,;*V-D?"NK9R7)^4 M#/:H_$.I3QW-O;:F.%F73Y+EHY+AMZ#Y?*?:QYQ@D]1\O.:[.B@#GO#]M M''K/B':&_Z9I\6G;FQ-%>,\F.=ORE`.>,\T6]UXD;6C%<:9IZ:9O8"=+QF MDV\[3LV`9/&1GC/6MNB@#%\73/;^$=5FCD:)DMV8.K;2O'7/:N<\3ZKI]U=" MYMM3M;R.WM')M4NC&6.?O0R*2/.'``P3\R\KGGO:*`.(N=1?:+R2(A9G2>W_=-E'CZ-%@9 M!XY93@YS7<44`>>P0S%=+6WC$[RZQJ,3I-L#[?XY_Z`.C M?^#%_P#XW75T4`8?BF>:#P9J4Y;R)UM68M&Y^0XYPW'Y\5F>(]0L-16P:UU7 M3Y8TE4EH MT+MN+L?;&XGKU-.U.Y6\U:[E&H6[6GVT>3'=3,MK<;;=-R^8O"D$DC@C(;@D M<>@T4`>:W6HVTFG7EU?M-#Y6E6\MC%=7IBE5=C%G1\'=+GC."20N<`\Z=WJ% MS;ZYJ-\MLES'!9VCHLMRR,'U+0!R_A5;[3 M;N]T;4YC+.JQW<KC:^"0/^6B,V,8`<`5U%%%`!1110`4444`%%%%`! M1110`4444`8WB>"*?1R)IVA1)%DW?9VG0[><2(O5..>GUK-2&_N$TJ[CT_[' M>&PG0QHI"1-A=@_V1GD`\]NU=60""",@]J*`.)T![BTLI[01217EQ91B"0VL MD.^<1L6!#9&1\IWG[V<$G;QE16-R)8"^GW1TH6Z"6#[(^3<"!@6V;!G..?6B@#A/#MGJL6IV)OH9_MR2N;N=HSAXO(4*-^,-\^W@'J#[UV. MHWRZ=9FX:*2;YTC6.+&YF=PB@;B!U8=2*M5E^(/^0;#_`-?UI_Z41T`']JWO M_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_ M:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^ M.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZ ME_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_ M`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ4 M4`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\ MMO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_ MJ7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9? M]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\` MX[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_? MRV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO M_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_ M:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^ M.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZ ME_W\MO\`X[1_:M[_`-"_J7_?RV_^.UJ44`9?]JWO_0OZE_W\MO\`X[1_:M[_ M`-"_J7_?RV_^.UJ44`9MIJS7&H&RFT^[M)?*,J^<8R&4$`XV.W^.Y['4/$=G/I(1M'L6O$87&[SQSMXV_+G`)Y.,UH>$/$TOB.*Y-P+%)8 M?++16TLC,@89&\.BX]L9!YYH`Z6BN*;QAK?]NP:0-`A2ZNXIY;>-[OYHUC.` MTV%(57[8)YXJE;_$+438:G+WOH]/M%@N6=+F<_?`8J"`@Y)P>A]*`/ M0J*JZ9J%OJVF6VH6CE[>YC$D;%2,J1D<'D44`6J***`"BBB@`K+\0?\`(-A_ MZ_K3_P!*(ZU*R_$'_(-A_P"OZT_]*(Z`-2BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHK*?7;>33[2^TV.35+>YG6%9++#A025+DYQM4@Y-`&K5:[U"SL9+9+JYCA>Y ME$,(=L&1R"0H]^#4`AU&74;U;B:`:;)$JP+$&696P=Q+9QZ8Q3K+2;6RTZSL ML/<):`>5)_)YH`@^VW]Y)J]G;V4EI+;J%M;JX4&*9V0D,`#DA3 MC-.-IJTL>E,VII#+`5:^6*`,ES\N"HSR@W<@CGM6G10!0CLKM;^_F?4Y6@N% M18(!&H%L0""5.,DD\\YQBJXT6Y.E:?9R:U?&:UE222Y0JKW&TG*OQC:<\CVK M7HH`III^S6)=1^V7;>9"L/V9I?W*X).X+CACG!/H*N444`9+_P#(W0_]>#_^ MC$JAX@\,C7M0M8[O5)O[.+B26P(CVR,F"I4[=XY'.&Z>E7W_`.1NA_Z\'_\` M1B5Q7B^]_LWQO;7DEW!J"#R8H]+2^>&Z@9FQOB13B0'(SD=!CIF@#KIO"EG- MK&I:H+J]AN=0M5M9&AFV>6J]&0@9#>^3]*I)X,-J\UQ::QJ!O[F>V>XNYI%W MO'#QL^50,%<@\RT^\L-=>YA-G=16RSW2'?)+(JL5;D\EV.!T"E:`-S3/!,6EZG>ZA#K MFKR7%[N\YI7A8DD$#GR\C;GY1G`QTI\7@/P^NA66D2V?VB"S#&)YFR^YOO.2 M,98^N*XV"]UBST3XAQVFH7]S<6$OEVKRRM+)&NSG:3TXR>/K6/)KVGV#ZG)+ MKFHSZ/&UM]AMX[YMMU.T!\Q#+NR$#%&;Y@`3^%`'K&C>&M-T/2+73+6-FAMT MV*TARS>YQ@9)]J*K^"1.O@S2Q%1AQP MW4]Z`-*BLU;"^9M36?59'ANN+98XE1K0;<':W\1SSD]*8="BDM=+BN+N\GDT MYTD29IB&E95QF3&-V<\T`:9=`6!905&6YZ#U-9]QKVFVUI9W7V@36]Y.D$$E MNIE5W;('*YXX//2A[/2-.O[O4Y5@@N+Q42XED?'F*HPH.3CC./QK&D\:^"/# MUJEJFLZ9!!"N%AM6#A!Z!8\XH`W4N[M]5N+0V$B6\<2O'=LX*2,Z18I?ZA'::A%,LMP^GJ?+D"L3L&_G!&,US+?%S0[@E=(T_6=7;. M!]CLF(/YX/Z4?\)=XXU$@:9X$>!#_P`M=0NU3'U3@_E0!V4>DV46LSZLD1%[ M/"L+R;S@HI)`QG`Z^E3Q16]E;".*.*W@C!(5`$5>Y]A7"_8?BCJ7,VKZ'I*G MM:P-,R_]]@C]:%^%L>I.)/%'B'5=;;/^J:0PP]<_<4\?@:`-/5_B9X4T=S"^ MJ)=W.<""R!F&32--F9MFT,@E8GU_B/XULRZPD6OP:1]CO7>:%IOM"0Y@0`XPS]F/I_ MC0!QW_"">(]:PWB?QC=M&3\UIIBB"/'H6ZL/J*>/@UX.09CM;N.3_GHEVX;^ M=6-17XC:CJ=S!I[Z/I.GI(RPW+@S32+GAMO*CCL0/QK6TS0M8MO#UW87_B2Y MO+V?=MO1"L;0Y4#Y0,]#S^-`&#_PJ'P^HQ%?:S".XCOB,_F*/^%4VB','BGQ M3#M^X$U`87TQ\M;^I^&KG4O#]IIA\0ZK;2P;=]Y:RB.6;`Q\Q`[]>/2LBP^' M`M-0MKV?Q9XFNY8)%<+-?Y1@#G:PQDCU&>]`%?\`X5OJ,?,'CWQ,&/4RW7F# M'T-=;H6F3Z1I4=GV&EM%90-$@>.:^E:/ M[1YGRE8B%(W#'0D9)`]ZWW_Y&Z'_`*\'_P#1B5SWBVWTN^\0:=IVJZ^T=K.Z MR/IS-$%8J04(8KO3+#'WAGH.]`%M/%NH2>(M9T6+0O,N=/MQ/"JW:YN0S84< M@!,CGDG%.\,Z\/%\5]'>6-OLL;I%66"8R0RL`'!4D`_*<=1U%0WFE>&[[6-< MNSKIBO)[18+P07J(;9$/WLCE"".K'''3K4>F:-I]\EY>:%XDGNKRYO;>6]O% MG0LRQX'ED1J``4R,8&RC2/45T\70O&-N'VDN2VS.`0HX'))YXYT%L/# M;:\TLGBZ>:[L#'+.STFX^T6"*6BF\P2>9N8L6W#@Y)/3BB@#6HK,UX:@=,(TT.9 M2Z^8(V59#'GYO++?*&QTSQ5&WU6:\GTJ2RNV>VN[65OW\0!WKC!;`&#DD$#` MXH`Z&BN=TW4+\:?J5[),;RVACW6TK(J^<50ERNT?<)X4]3R>1@G%BU_5GOH- M/-XX\VU2Z-SY:94F%F*8VXQN`/KCC-`'>5E^(/\`D&P_]?UI_P"E$=8&@>(] M1U.YT^>?Y([N9X7M]HQ&%A#[@<;L[L]3CYJW/$LL<&D)+-(L<:7EHSNYP%`N M(\DD]!0!KT5!:7MK?P^=9W,-Q%G;OAD#KGTR*GH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHIDLL<,3RRNL<:`LSN1ST M.?UQ7/"+XE>)?];+8^&+-NT8^T7./K]T?H:EA^&WA?3&_M+Q#=RZK<#[UUJ] MSN4'Z$@8]CF@!+CXJ65W.]KX7TG4->N02-UO$4A4_P"TY''UQBD$_P`5+_&R MS\/:6AZ^:[RNO_?)(/\`]:M._P#'G@[PYI,,RZE9FU+&.&.PQ(,CJ`$X`_(5 M!/\`$2*3PK:Z[I>A:I?1W5S]FBA$6UR><-QGY21C/K0!3_X1?X@7W_']XYBM M4[I96"_HQP:/^%827?.J^,?$=Y_L+=>6A_X#@TEUX@^(U];1MI7@^TL2V=S7 MUXLA'/'R@KCCGG/^*:?HOQ*>TN;F^\3V,-[(0L5NMJKQ1KD$G.`=W4=^._H` M$WPN\!:1;3:CJ=LSQ1#=)/>7+?A3I4PCTO3[>XG!X-MI MK._X,RY/YUKZ7\.KVU\'W^@WOB.>4WES]H,\4(4KG&5^8G(.,]O\=#3OA_;Z M?X6VT/PW9SV:@;+RYO%`!R,=:`)?#0F"XWS2/YB'J#E MCC\,5;TCP9X!YHS%(P!8LA.2IW$\'`X]J`.2\,6OPMBNI(=$BL MKR[MXFN&9XWG<*N,L"P//(X6M[0_B!I_B*^>UT_3=6;;$TOG26NR,X_AW$]3 MVS71VFFV-@"+.RM[8'@^3$J9_(59H`Y/0O%&OZOJHM[GP?=Z=9;6)NKFX4$$ M=!LQDY]C2Z1?^-IM5BCU;1=,M[`[O,EANB[KP<8&.><5U=%`'*:=?^-Y-8CB MU#1-,AT\N0\T=V2X7G!`QR>E%O?^-VUM8KC1-,33?/*M,EV2XCS]X#')Q75T M4`QCKMYQZUU=%%`&2_P#R-T/_ M`%X/_P"C$KEO$]AJ<7C"WN]`@U"WU*Z\N.2??$UG/$ARPE4MN!52V"!WXKJ7 M_P"1NA_Z\'_]&)6M0!P%YX=O(O%WB74ET&/4+&[T^*.*W\R-%N90V2#D\<\D MD?G2>'%U?0H+[5M3T*Y.KZI>VZ7`$T6P*3L41A&;Y(P>_)Y/0<>@44`>01># M]E%=%10!7O;&UU&V:WNX$FB;LZYP<8R/0\]:7[%:&-(_L ML.R-#&B^6,*A&"H'8$`#%3T4`9UOH.DV<\4UKIUK;O%G;Y,2IU&#T`SQQ3O[ M$TG[/]G_`++LO(W;_+^SIMW8VYQC&<E`!158ZC9"2ZC%U"TMHH>XC M5PSQ`C(+*.1D#(]:YK5O'FF:?9Z5JL>HV`TFZR\LD[.LICQ\ICC`W,<]>/\` M&@#H=4U*/2K,7,EO,;'0-0OK*_N$U?[7"L M=OHD$`:0<'?O;GY6]QTS@&N/;6_%GB>*Z@\`Z3=V&F7MS)/+J5U+AW9B-Q0L M?D7IPN3QQCFK.A?`N((9/$6KS7$CMNDAM#M5C_M.PW-^0H&9VI7$VIZ797WB M>5Y-'D;RK#P]X?(D4E,861U...!@'/ICI7:&3Q9!X>TJ/PCX8T[2EE5_/M[Q ML&WP<*<*1DD#.>3SR*Z_1M$TWP]IR:?I5HEK:J2P123DGJ23DD^Y-:%`CSI? M"GC[5UCBUSQC':0+DLNDQ['?_@>%(_*M*V^&>C?9'M-5N=1UJW\P20IJ-RS^ M2<$':5QUSD_A79T4`&U@2"WACAAC M&U(XU"JH]`!P*DHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@# M)?\`Y&Z'_KP?_P!&)6M62_\`R-T/_7@__HQ*UJ`"BBB@`HHHH`****`"BBB@ M`HHHH`*R_$'_`"#8?^OZT_\`2B.M2LOQ!_R#8?\`K^M/_2B.@#4HHKS>36OB MO)<2K!X5TB&+>=C37(?Y>V=L@R??`^E`'I%%>:26GQ?OW$RZCX?TT#CR44L# M[\H_\Z3_`(1#XD7L4UO?>.H88)R?,-M:@L`1_"<*1SQP1Q^5`'IE1&YMU$Q, M\0$(S*2X_=\9^;TXYYKS2;X5:]=WEO<77Q"U61X/]6RQLK)D8.TB3@D=\?G5 MB/X-Z=^_>;Q)XC>:Y_X^76[4>=V^;*$GCU)H`[J36=-BCLI'OK?R[YU2U<2` MK,S#("D<'(Z4L>KV,VIW6FQS[KRTC62:((V55L[3G&#G!X%<`WP/\/-&(AJV MNK"#D1BY3:/H-E12?`;PK(P/VW5UXQQ/&?YQF@#KY/&NDQZ):ZJOVAX+F58E M01XD0EMN64D$`8Y/I1+XVT.WUS^S9[ZUA3[-YXNI+J)8B=VW8,MG=WZ=*Y:\ M^!?A"Y>-HFU&T"H%*PW`(U3S_!3P=,+<"&[C,4:HQCGQYI'\ M3<=3WQ@>U`%]_B7H_P#85Q?1SV#7D)=1L9;%T4NT-Y\BEO=M MK#)K2'P_\("**/\`X1S3=L0PI,`R?J>K?CF@#F9/C)H"V.I,+RU6ZBD=;%") MF6=0!M9B(_ER<\=L55U#XTZ-%O48KNE M\'^&50(/#ND[1T'V*/\`PK5M[6WM(A%;010QCHD:!0/P%`'D4OC[Q5J":G'I M7A?7KN"_&+>2:$P"T!7!"LH.[U!+#!_6N+;XI:K9:9#)H%C"^FLKVMWZ]:]JHH`\B;P5\2M3M)X[W7]+LY;EPT]S:(8[B8*I"J[1HN5` M/`SW_"M/PM\&M'T>X-[K4W]LWN#_\`HQ*UJ`"BBB@`HHHH`****`"L:77#'X@?31%$ M!'#YI$DA62;@G]TN/G`P0>1R1^.S61J>@IJUU$UW)[?5M/NKW:BPVR+(SPR^:N"F\C.!\P'4=N*J)XP9Y8[86"_ M;9(EG2(SG;Y1C+Y+;>ORD8Q^-7+3PTEG(0M]<30RPB"=)@A\R-4*HORJ,8R3 MD\1A"@3[F,8)/3.>]`"Z9XK@U2YMA#`1:W3 MM%#*6^8NL8D(*XX&"><]1[U=\0?\@V'_`*_K3_THCJ&P\,6&FW44MNTPCA9G MB@)79&Q0(6'&[.!W)')JY>)8ZIILBR3AK8,',L4N-A1@P.X'C!4'\*`+U%<_ M!9:;="0V^N7DHC&9-FHL=@YZ\\=#U]*@T_38VLEEN]6U`&6YE2%A?-AU,C>7 MC!YR@6@#IZ*YPV^D"`SGQ#&;6;YKKS)6$:WYW>5YA M\LX!Z%"A_$4`=116/'HEO-&LD6IZDZ,,JRWKD$>H.:=_8$7_`$$-4_\``Q_\ M:`-:BL,:59%9F&KWY$.?-(OV^3')SSQ5#3[6U-M-]LUV[69'FE(.HD%8=[%& M(SP-A0Y/K0!U=%85KIEC?0^=::S?7$6<;X=09USZ9!J?^P(O^@AJG_@8_P#C M0!K45AC2K(K,PU>_(ASYI%^WR8Y.>>*HZ996\L4B7.M7OVA9)I-G]H'<(?,; M8Q`/`V%#GW%`'545B0:3:740EM]7U":,D@/'?LP_,&I?[`B_Z"&J?^!C_P"- M`&M16&-*LBLS#5[\B'/FD7[?)CDYYXK/L;>S%M*;[7KI)4DE;6[QGBEF+[=0)V1^8^P MM@\?(!UH`ZJBL6#2+2ZB$MOJVH2QG.'COF8'''4&I/[`B_Z"&J?^!C_XT`:U M%88TJR*S,-7OR(<^:1?M\F.3GGBJ&E6EK<65Q)/KEXS0RS%RNHGY(_,?86P> M/D`ZT`=716+!I%I=1"6WU;4)8SG#QWS,#CCJ#4G]@1?]!#5/_`Q_\:`-:BL, M:59%9F&KWY$.?-(OV^3')SSQ5/2M/BGL)IKC6+X^7-,687[86/>Q0G!X^3:> M:`.HHK%@TBTNHA+;ZMJ$L9SAX[YF!QQU!J3^P(O^@AJG_@8_^-`&M16&-*LB MLS#5[\B'/FD7[?)CDYYXJGH^G1W.F^;<:O?M(C/YA6_8A1N)7.#Q\N#0!U%% M8T>BV\T:R1:IJ,D;#*LM\Y!'LU4M)T^*?2S-0["`WF:BRX)&0#D^@)J+2M)\VW\J[U34/MBEB\8OFW*NX[20#W7%`%]_ M^1NA_P"O!_\`T8E:U8^GVFF6^I/)%?R7%V$:(B:Z,C*H(+``GUQFM*VO+6]0 MO:W,,Z*=I:)PP!ZXX^HH`FHHHH`****`"BBB@`HHHH`****`"N=_LJZ.E7&G M"`)%=W\GFX9<"W9BS<9_B4;<=?F]C7144`1]DLI`AWC_7N"@(P>-JEN?]OCH:ZF MB@#@UT;4_L\Y;2KA6EL8K53')`9(F2,AF`9BN&W;>N>/QKL].BD@TRTAF2-) M8X45UC)*J0H!`SSCZU9HH`YVZTJZFGU.!(`+;4+B(2.&4#R0@\S(SGG!7U^; M/2LR[T+6IKRX2V_0;=DD00`8);(SW&/D^E=K10!D>&K.[T_1A:W MD4431S2B)(W+JL7F,4`)[;2,#L,?2M>BB@#G;K2KJ:?4X$@`MM0N(A(X90/) M"#S,C.><%?7YL]*R=0T#4KFXN4-K-)']JN+CS(YD4RH\0544DG#9_O#'R=>E M=Q10!EZ'%?16UP+T2JIN&-NDT@>18N,!F!.>=W<\$5J444`<[=:5=33ZG`D` M%MJ%Q$)'#*!Y(0>9D9SS@KZ_-GI6)K/AS6+[[9!#&ZYNKBX6?>F)4>,*(QDY MSV^8;?E],5WM%`&5H4%U!%>&ZC=/,N2\?F[/,*[5&7*<$Y!QU.-H[5JT44`< M[=:5=33ZG`D`%MJ%Q$)'#*!Y(0>9D9SS@KZ_-GI51=-U2WUE[E;2298;RYNU M82H!,K1;4C&6R#G`Y``V]>E=;10!GZ+I[Z=IJ1SL'NY&,US(.CRLT4`8WARTN[2UNQ=I(KRW;RJTI0 MR.I`Y?9\H.<].P'?-;-%%`'.W6E74T^IP)`!;:A<1"1PR@>2$'F9&<\X*^OS M9Z5CQ>']4^RM'+;2[H+62+(E3,[FX$@9>3T"YPV,[L<9)'=44`8_AVRN[2WO M'O05EN;MY]IVC:"`.BD@9QG&3UY).:V***`.=NM*NII]3@2`"VU"XB$CAE`\ MD(/,R,YYP5]?FSTJ/4]'O)[3Q!';Q!6NVC:$!@/,PJ[AUXS@CG'6NFHH`RM# MM;B`:A-<1-#]JO'F2)F!*+M5>=I(Y*D\'OZUJT44`<[=:5=33ZG`D`%MJ%Q$ M)'#*!Y(0>9D9SS@KZ_-GI5^QLGAU/59)(5$-S(C)TPXV`-Q]<]:TZ*`,[0;6 M6RT.SMITV2QQ[67(.#^%:-%%`'._V5='2KC3A`$BN[^3S<,N!;LQ9N,_Q*-N M.OS>QJ2:RFA_MV4:8MXL[(\-ON11,0BCDDX'S#J?UK>HH`R?#]K+;6$C7,,T M=U/,TT_F[,LYQR`C,`N``!G.!SSR9-5LY+F?39(HPQ@NQ(YR`57:P)Y]R*TJ M*`.4N],O7TF4MI\TE[>F>262!XO,@+KM5?G.T_(%0D'M^(N6=C>6-Q]I%G&9 M$TN.+RX7`#2KGY`6.<=`"?SK?HH`YQ-%GMO[./V>.Y>*VN!6LK1EUVI@K^[.W:O`'?KGM6_10`4444`% *%%%`!1110!__V3\_ ` end GRAPHIC 6 ernstyoungsig.jpg GRAPHIC begin 644 ernstyoungsig.jpg M_]C_X``02D9)1@`!`@$`2`!(``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T` M`````!``2`````$``0!(`````0`!_^$GN6AT='`Z+R]N&%P+S$N,"\`/#]X<&%C:V5T(&)E9VEN/2+ON[\B(&ED/2)7-4TP37!#96AI M2'IR95-Z3E1C>FMC.60B/SX*/'@Z>&UP;65T82!X;6QN#IX;7!T:STB,RXQ+C$M,3$Q(CX*("`@/')D9CI21$8@>&UL M;G,Z&UL;G,Z9&,](FAT='`Z+R]P=7)L+F]R9R]D8R]E;&5M M96YT&%P+S$N,"]G M+VEM9R\B/@H@("`@("`@("`\>&%P.D-R96%T;W)4;V]L/DEL;'5S=')A=&]R M/"]X87`Z0W)E871O&%P.DUE=&%D871A1&%T93X*("`@ M("`@("`@/'AA<#I4:'5M8FYA:6QS/@H@("`@("`@("`@("`\7!E/2)297-O=7)C M92(^"B`@("`@("`@("`@("`@("`@(#QX87!'26UG.G=I9'1H/C(U-CPO>&%P M1TEM9SIW:61T:#X*("`@("`@("`@("`@("`@("`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`V-65X,E9N2"LS260R4#A!2VEJ-&Y9 M*T%'2W9%9D]V;#=Z9BMC,G%A5'%':F%5,VQV4TY+6C-T3F4Q1FUJ=5IG)B-X M03MX1$LP5G5N>$)167=Y,3AE=4MS>G0O>5)L=D)&2C5O.#1A,W)-.%-G0E5U M1&%1:'5P25-0-'9V8D98<%9N87@R;'!$87AS-U)W27-A)B-X03M.27AD>49& M05=D:5-X.7II<71I40P)B-X M03M8579-1W)A=BMA979P+W`R7)S3TQI)B-X03MM,DMP6BMA=7-F;5AP;'1$ M8V55;SE/:3`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`T055/ M2W!#+W=#6"MS+VU$*UI7)B-X03MT964O2W-D:F(R3VQA9VMD<6UO0C-I=G)M M,%9227A52S%&6F=.+S0T<3E6+W@W*UHQ;"LT,4QY0DYC>FHO9"MM,W-%7)$3VA6#$X9U%8U)B-X03M:-6$O26HX-79,9FUO4V%03EI*6E=KG=3<&]O-D1&578X M04]Z86)$-58Q4SDQ0WEI=C1B2S!N=5!Q.#!1;41'3TUT)B-X03M4:5$S5VU+ M=D1V.$%N16919%)R-6@X>'IW0T=Z=D1(8C)P0V-!>G%Z4U-E;4M"94,X9TYV M;#)X4U@P8FEH,DMV35!Z2B]+-SAO<&)Q)B-X03LU.#7`S.'A,9GID M-6ES=$DQ4TA3=DI(;4\V1C-E>7=S9G)953%A4T=)57%H8FM62G)3;C-9;V5L M*UEF2CES)B-X03LS-61A;C56,$]&3%-/5%1P4QZ66EO16MJ)B-X M03M23598-3$U2&)P:6Q(+VPY*U18;G8V=3-L8GI88W)$-48P=3=L;6AS64=8 M,4Y26FXU3#9Z2U-21G1Y-#=6-EEO6D0K95`U9BM99DYT)B-X03MV-5DX'A*>%0Y,DMB0E=B:4(S<&EQ8659+WE5,'DY,$AY M.7!F;"]56G9,,'9L<5@Q8D,X=&='8VQW)B-X03MO;%HY,4ID*TYA,2ME,DMV M3C=4+T%*>'@X+V%.-31B53E),3(R;70U63-PDAO)B-X03MF:WHX=R].0S9:6F%J-78Q>#52639A.&%+ M,&MT1U`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`X<'(V M>#`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`@("`@("`@("`@("`@/"]R9&8Z;&D^"B`@("`@ M("`@("`@(#PO&%P34TZ1&]C=6UE;G1)1#X*("`@("`@("`@/'AA<$U-.DEN&%P34TZ26YS=&%N8V5)1#X*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@ M(#PO7I[?'U^?W.$A8:'B(F*BXR-CH^"DY25EI>8F9J;G) MV>GY*CI*6FIZBIJJNLK:ZOK_V@`(`0$``#\`[E^8?F;5OJ4^A>3F:\\U-);K M/!:\#);6TDJ^M(\LH:W@D,'(Q>MU.X5J8:^3-`_15M<-)IRV-Q-/37_`$>V M:1$DGE8\8XH^1%6=R%&&MI^7'Q6MM>U#6_S!GT_39BFA>6HRNKS)0K<:C<)^[M> M5#M;PMZDE#]ID'8Y,,V;`6K:S8:5#!->.56YN;>SA"@LS374JPQ@`?Y3U8]A M4]L<^JV:ZO%I)8F]EMY+I5`J!%$Z1DL>U6E''QH?#([:_F1IL^L#2I--O[:9 M[B>RADD2%E>YM[H@D1>2_/(5^7NE:_)9W\UU:7]UY?U+4K M_4-(GTFZBLY)X;JYDE2YOI/K%M=3&D=9W"49Z*:`D-CY*_-8>4KK1--GDT& MSTNXO8]!@%T#+"O-_DS\Z?T1?KI^N MP:XLUU%=R:9('LWN4DBBAGM$F611;6\;(TJ*"2W*CL=^8>^_+>[N?-7ESS=Y MFT.&]N+.4H]AI\$$\S2"U98[K4+AEC:>5I$3B*^G%XM]O.A^;=#U'S'Y5:V3 M4=0\N7Q"W'K:9*OUE&4$^D6`*N#6C*#N>A[Y&_R(T'S/9>2H=5\UW%[)YEUE MY+K48;ZB/'\7I0\HU5/C-O%'RYU8?9V`IE_F^;G24M?-D&KKITFGV=[810BU M-Y=2/>F&3_0(PZ`W-+7BO,,H!+$<0U>?>0OR5\[Q1:>VIWUR(+Q$U2&Z>=3/ MI-Y<7+W%RWILA^LWKQ^E&)Y%HM9-B**TEN?+_P"=<>HW"6TTMQI5KKD5_+// M>Q1WNIVJO&(X(O158;2WB1*RJ%#2?%\.YY+^9/R^_-?5M:N!!YJN;2PN]/:: M\:&406YU"-Y#:6UJB!YK>!*J9WJ6E6@WWI#_`#U;_F%??F%H(\X3!+?]+)-I M'E_0;B:XD:ULXVN3*L*+"\A>2-89)Y^*IR^%5!++TSS7:_F#K4WEF_TS1[6W M_1=_)J-UIVI784LJ0-!#&\ELMPJRGZP[CCZB*44DGIB]M;?F!'^8%WJKZ182 M:3=VFGV)E-\ZRPB%GFN9(E^KMZJ\KEE'+TRQC6M`:AOD;\O(-.U/5?,&J1S/ MKMYJ.I26LD\_K"&VFN62)H44F*-I;>.,DTY\:*>G$32QL+*PMEM;*".VMD+, MD,2A$!=B[44;"K,3B^;-FS9LYCY@C368_P!+SJ)I]6U)?+VB0O\`$L%@USZ. MH2(.GJ7,$$[\QOPX+M1J].S8G"[ M\VIYFOX2WF6YTOZYJ$TGQ&"+4Y0;.RC/11;16C*P'5F+?MFO2LV;-FS9LV;- MG*_*=O>IY@T;1[A5_0>C7^J7>B:N)HG@OCE19O$ZW)9)YV_ GRAPHIC 7 fedlogok.jpg GRAPHIC begin 644 fedlogok.jpg M_]C_X``02D9)1@`!`0$`9`!D``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+ M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#S_P#X7;\0 M_P#H8?\`R2M__C==)H?B[XW>)+$7ND37-S:DE1*+.V56(ZX+(,_A7G7@K5=* MT3Q=8ZGK5E]ML;^*7@[X@^(=-T?5/#8@FCFWV M#S[9$63J!P!M)QTY!('M0!'\-?$_Q#N/B&VA^,Y9TC^Q23+#+:11[B&4!@R* M,CD]#BO;*^?/''Q=UJ?X@CP_X;:RLOL]U]A6_GB5W\QF"N*UCM[G[(A6%)' MFESM.2X('S<8`[5P?Q6;Q*?%T2#P.E`'UOH6 MI_VWX>TS5O)\G[=:17/E;MVS>@;;G`SC.,X%:%?.WB'XP:AX4\*^&=`T&.%; MM-&LY+BYE7?LW0J0JKTSC!).>O2JGB#XD?$3P5>:@#Z4HKYN\?_&3Q+'<:%>>'=1^P6E_I27,D'D12[9?-E1_F=2> M"F/PZ5I^#_B9X^UW7-,N9=-OKC0H;.;[0T%AD7DT=N[??"8#&10`%QV�![ M]2$@`DG`'4FOGV#Q1\:O$FJSI;6ZV_C3PU=ZS#I%K MK=EO4?&7QC\1-XS_X1?PY<6EH(KE;)[V:-6+RY"LWS955#9[= ML^U`'T%17S:?C#XP\'^-9-*U[4['6[*&5%FEBA108V`.Y&C`Y`/0@\Y%:/Q9 M^,.OZ+XMET/PY=0VL5JB&6X$22M(S*&XW`@`!@.FTS5O)\G[=:17/E;MVS>@;;G` MSC.,X%?(WQ2?Q*_BF`>*TMQJBV40+0$-'^R-::!9">U M*M%!_"44BR1^%]$1U(9673X@01T(.VMZ@#XV\4:1% MH?Q?N;;Q!"XTYM6\Z;[P\RV>7<2",'E">AX.>XK:O)O!EYXW;0O"_@BUU."2 M98;:+5?P]\:-1N;Z-U6+63>$8Y,9E\P$?52*L? M&+Q+IOBOQPNI:3(\UE]DCC25HV0.06R0&`.,DCIU!KZNU'0-&UB1)-3TFPO7 MC&$:YMDE*_0L#BH+OPEX;OY$DO/#^E7+H@C1IK*-RJCHH)'`&3Q0!\D>/]'N M[&YT34)8G%KJ&BV#PR8^4[;:-",^H*]/<5O>)]2^'&FW&GP^'_"UMJJ36B23 M2/>W2E)3G*8#]>GYU]2RZ3IT^GQZ?+I]K)91J$2V>%3&J@8`"XP`!P*J6/A7 MP[IDXGL-!TNTF!R)(+..-A^(%`'RI\4;`:;=>&K8:6-+_P")(DAL@[OY)>>= MR,N2V?FYR>"<5]`Z!=W>E_`:TO-,CS>0:)YL*A<_.(R`F- MTQ@D<@M5CQ%IL&E?%B5->@D&F3:F+B7<"/,M7DWD@CGE#V/!SSQ7UM=>%_#] M]>?;+O0M,N+K.?/FM(W?_OHC-6=0T;2]6A6'4M-L[R)/NI-DRP+9QD#." M2,],@U[K9^)K[0_`7A*&Q@@=WT>WD8S*QW`0CA0"/3D]LCUR.RNO"/AJ^='N M_#VDW#1H(T,UE&Y51T497@"1HFE6^V!RIQN"[3MSC.,G'J:*[U-)TV-%1-/ MM0J@``0KP/RHH`N4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 )10`4444`?__9 ` end EX-99.CERT 8 cert302.htm

N-CSR Item 12(a)(2) - Exhibits: Certifications

 

 

I, J. Christopher Donahue, certify that:

 

  1. I have reviewed this report on Form N-CSR of Federated U.S. Government Securities Fund: 2-5 Years ("registrant");

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    1. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

    1. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

 

 

Date: March 21, 2013

/S/ J. Christopher Donahue

J. Christopher Donahue, President - Principal Executive Officer

 

 

N-CSR Item 12(a)(2) - Exhibits: Certifications

 

 

I, Richard A. Novak, certify that:

 

  1. I have reviewed this report on Form N-CSR of Federated U.S. Government Securities Fund: 2-5 Years ("registrant");

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    1. all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

 

    1. any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

 

 

 

Date: March 21, 2013

/S/ Richard A. Novak

Richard A. Novak, Treasurer - Principal Financial Officer

 

 

 EX-99.906CERT 9 cert906.htm

N-CSR Item 12(b) - Exhibits: Certifications

 

SECTION 906 CERTIFICATION

 

Pursuant to 18 U.S.C.§ 1350, the undersigned officers of Federated U.S. Government Securities Fund: 2-5 Years (the “Registrant”), hereby certify, to the best of our knowledge, that the Registrant’s Report on Form N-CSR for the period ended January 31, 2013 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities and Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

 

 

Dated: March 21, 2013

 

/s/ J. Christopher Donahue

J. Christopher Donahue

Title: President, Principal Executive Officer

 

 

 

Dated: March 21, 2013

 

/s/ Richard A. Novak

Richard A. Novak

Title: Treasurer, Principal Financial Officer

 

This certification is being furnished solely pursuant to 18 U.S.C.§ 1350 and is not being filed as part of the Report or as a separate disclosure document.