Exhibit 25.2
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
[X]CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)
SUMMIT BANK
(NAME OF TRUSTEE)
00-0000000
(I.R.S. EMPLOYER IDENTIFICATION NO.)
000 XXXX XXXXXX
XXXXXXXXXX, XX 00000
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
EASTERN ENVIRONMENTAL SERVICES, INC.
(NAME OF OBLIGOR)
DELAWARE
(STATE OF INCORPORATION)
(I.R.S. EMPLOYER IDENTIFICATION NO.)
0000 XXXXXXXX XXXXX
XXXXX 000
XX. XXXXXX, XX 00000
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(TITLE OF INDENTURE SECURITIES)
% SUBORDINATED DEBT SECURITIES DUE
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1. GENERAL INFORMATION
Furnish the following information as to the trustee:
(a) Name and address of each examining or supervisory authority to which
it is subject:
NAME ADDRESS
---- -------
Federal Reserve Bank (2nd District)......................... New York, NY
Federal Deposit Insurance Corporation....................... Washington, DC
New Jersey Department of Banking............................ Trenton, NJ
(b) Whether it is authorized to exercise corporate trust powers.
Yes
2. AFFILIATIONS WITH OBLIGOR
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None (See Note on page 5)
3. VOTING SECURITIES OF THE TRUSTEE
Furnish the following information as to each class of voting securities of
the trustee: As of 3/31/98
COL. A COL. B
------ ------
TITLE OF CLASS AMOUNT OUTSTANDING
-------------- ------------------
Summit Bank, Common Stock............................... 34,021,623 shares
Summit Bank, Preferred Stock............................ 120,000 shares
4. TRUSTEESHIPS UNDER OTHER INDENTURES
If the trustee is a trustee under another indenture under which any other
securities, or certificates of interest or participation in any other
securities, of the obligor are outstanding, furnish the following information:
Not applicable--see answer to item 13
5. INTERLOCKING DIRECTORATES AND SIMILAR RELATIONSHIPS WITH THE OBLIGOR OR
UNDERWRITERS
If the trustee or any of the directors or executive officers of the trustee
is a director, officer, partner, employee, appointee, or representative of the
obligor or of any underwriter for the obligor, identify each such person
having any such connection and state the nature of each such connection.
Not applicable--see answer to item 13
6. VOTING SECURITIES OF THE TRUSTEE OWNED BY THE OBLIGOR OR ITS OFFICIALS
Furnish the following information as to the voting securities of the trustee
owned beneficially by the obligor and each director, partner, and executive
officer of the obligor:
Not applicable--see answer to item 13
7. VOTING SECURITIES OF THE TRUSTEE OWNED BY UNDERWRITERS OR THEIR OFFICIALS
Furnish the following information as to the voting securities of the trustee
owned beneficially by each underwriter for the obligor and each director,
partner, and executive officer of each such underwriter:
Not applicable--see answer to item 13
2
8. SECURITIES OF THE OBLIGOR OWNED OR HELD BY THE TRUSTEE
Furnish the following information as to securities of the obligor owned
beneficially or held as collateral security for obligations in default by the
trustee:
Not applicable--see answer to item 13
9. SECURITIES OF UNDERWRITERS OWNED OR HELD BY THE TRUSTEE
If the trustee owns beneficially or holding as collateral security for
obligations in default any securities of an underwriter for the obligor,
furnish the following information as to each class of securities of such
underwriter any of which are owned or held by the trustee:
Not applicable--see answer to item 13
10. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF VOTING SECURITIES OF CERTAIN
AFFILIATES OR SECURITY HOLDERS OF THE OBLIGOR
If the trustee owns beneficially or holds as collateral security for
obligations in default voting securities of a person who, to the knowledge of
the trustee (1) owns 10 percent or more of the voting stock of the obligor or
(2) is an affiliate, other than a subsidiary, of the obligor, furnish the
following information as to the voting securities of such person:
Not applicable--see answer to item 13
11. OWNERSHIP OR HOLDINGS BY THE TRUSTEE OF ANY SECURITIES OF A PERSON OWNING
50 PERCENT OR MORE OF THE VOTING SECURITIES OF THE OBLIGOR
If the trustee owns beneficially or holds as collateral security for
obligations in default any securities of a person who, to the knowledge of the
trustee, owns 50 percent or more of the voting securities of the obligor,
furnish the following information as to each class of securities of such
person any of which are 80 owned or held by the trustee:
Not applicable--see answer to item 13
12. INDEBTEDNESS OF THE OBLIGOR TO THE TRUSTEE
Except as noted in the instructions, if the obligor is indebted to the
trustee, furnish the following information:
Not applicable--see answer to item 13
13. DEFAULTS BY THE OBLIGOR
(a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such default.
None
(b) If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in any other
securities, of the obligor are outstanding, or is trustee for more than one
outstanding series of securities under the indenture, state whether there has
been a default under any such indenture or series, identify the indenture or
series affected, and explain the nature of any such default.
None
3
14. AFFILIATIONS WITH THE UNDERWRITERS
If any underwriter is an affiliate of the trustee, describe each such
affiliation.
Not applicable--see answer to item 13
15. FOREIGN TRUSTEE
Identify the order or rule pursuant to which the trustee is authorized to
act as sole trustee under indentures qualified or to be qualified under the
Act.
Not applicable
16. LIST OF EXHIBITS
List below all exhibits filed as part of this statement of eligibility.
[X] 1. *Copy of Articles of Association of the Trustee as now in effect.
[_] 2. No certificate of authority of the Trustee to commence business is
furnished since this authority is contained in the Articles of
Association of the Trustee.
[_] 3. No copy of the authorization of the trustee to exercise corporate
trust powers is furnished since this authorization is contained in the
Articles of Association of the Trustee.
[X] 4. *Copy of the existing By-Laws of the Trustee as now in effect.
[_] 5. Not Applicable.
[X] 6. The consent of the Trustee required by Section 321(b) of the Act.
[X] 7. A copy of the latest report of Condition of the Trustee published
pursuant to law or the requirements of its supervising or examining
authority.
[_] 8. Not Applicable.
[_] 9. Not Applicable.
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* Exhibits thus designated have heretofore been filed with the Securities and
Exchange Commission, have not been amended since filing and are incorporated
herein by reference (see Exhibits TIA(i) and TIA(ii) File No. 285667)
4
NOTE
The Trustee disclaims responsibility for the accuracy or completeness of
information contained in this Statement of Eligibility and Qualification not
known to the trustee and not obtained by it through reasonable investigation
and as to which information it has obtained from the obligor and has had to
rely or will obtain from the principal underwriters and will have to rely.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
trustee, Summit Bank, a corporation organized and existing under the laws of
the State of New Jersey, has duly caused this Statement of Eligibility and
Qualification to be signed on its behalf by the undersigned, thereunto duly
authorized, all in the City of Hackensack and State of New Jersey on the 30th
day of April, 1998.
SUMMIT BANK
/s/ Xxxxxx Xxxxxx
By: _________________________________
Xxxxxx Xxxxxx
Asst. Vice President
5
CONSENT OF TRUSTEE
Summit Bank, as trustee (the "Trustee") under an indenture to be entered
into between itself and Eastern Environment, Inc., hereby consents, pursuant
to Section 321(b) of the Trust Indenture Act of 1939, as amended, to the
furnishing by Federal, State, Territorial or District Authorities to the
Securities and Exchange Commission of all reports, records or other
information relating thereto.
SUMMIT BANK
/s/ Xxxxxx Xxxxxx
By: _________________________________
Xxxxxx Xxxxxx
Asst. Vice President
Dated: April 30, 1998
6
Exhibit 7
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Board of Governors of the Federal Reserve System
OMB Number: 7100-0036
Federal Deposit Insurance Corporation
OMB Number: 3064-0052
Office of the Comptroller of the Currency
OMB Number: 1557-0081
Expires March 31, 2000
Federal Financial Institutions Examination Council
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[ART APPEARS HERE] Please refer to page i, [1]
Table of Contents, for
the required disclosure
of estimated burden.
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Consolidated Reports of Condition and Income for
A Bank With Domestic and Foreign Offices -- FFIEC 031
(951231)
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Report at the close of business December 31, 1997 (RCRI 9999)
This report is required by law: 12 U.S.C. (S)324 (State member banks);
12 U.S.C. (S)1817 (State nonmember banks); and 12 U.S.C. (S)161 (National
banks).
This report form is to be filed by banks with branches and consolidated
subsidiaries in U.S. territories and possessions, Edge or Agreement
subsidiaries, foreign branches, consolidated foreign subsidiaries, or
International Banking Facililties.
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NOTE: The Reports of Condition and Income must be signed by an authorized
officer and the Report of Condition must be attested to by not less than two
directors (trustees) for State nonmember banks and three directors for State
member and National banks.
I, Xxxxxxx X. Xxxxx, Asst. Treasurer
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Name and Title of Officer Authorized to Sign Report
of the named bank do hereby declare that these Reports of Condition and Income
(including the supporting schedules) have been prepared in conformance with the
instructions issued by the appropriate Federal regulatory authority and are true
to the best of my knowledge and belief.
/s/ Xxxxxxx X. Xxxxx Asst. Treasurer
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Signature of Officer Authorized to Sign Report
January 26, 1998
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Date of Signature
The Reports of Condition and Income are to be prepared in accordance with
Federal regulatory authority instructions. NOTE: These instructions may in some
cases differ from generally accepted accounting principles.
We, the undersigned directors (trustees), attest to the correctness of this
Report of Condition (including the supporting schedules) and declare that it has
been examined by us and to the best of our knowledge and belief has been
prepared in conformance with the instructions issued by the appropriate Federal
regulatory authority and is true and correct.
[SIGNATURE APPEARS HERE]
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Director (Trustee)
[SIGNATURE APPEARS HERE]
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Director (Trustee)
[SIGNATURE APPEARS HERE]
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Director (Trustee)
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For Banks Submitting Hard Copy Report Forms:
State Member Banks: Return the original and one copy to the appropriate
Federal Reserve District Bank.
State Nonmember Banks: Return the original only in the special return address
envelope provided. If express mail is used in lieu of the special return address
envelope, return the original only to the FDIC, c/o Quality Data Systems, 0000
Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx, XX 00000.
National Banks: Return the original only in the special return address envelope
provided. If express mail is used in lieu of the special return address
envelope, return the original only to the FDIC, c/o Quality Data Systems, 0000
Xxxxx Xxxxx, Xxxxx 000, Xxxxxxx, XX 00000.
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FDIC Certificate Number |0|0|5|5|0|
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(RCRI 9060)
Banks should affix the address label in this space.
Summit Bank
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Legal Title of Bank (TEXT 9010)
Princeton
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Xxxx (XXXX 0000)
XX 00000
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State Abbrev. (TEXT 9200) ZIP Code (TEXT 9220)
Board of Governors of the Federal Reserve System, Federal Deposit Insurance
Corporation, Office of the Comptroller of the Currency
Summit Bank
000 Xxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000 Vendor ID: D Cert: 00550
Transit Number: 21202162 Transmitted to EDS as 0071716 on 01/30/96 at
09:16:03 CST
Consolidated Report of Income
For the period January 1, 1997 - December 31, 1997
All Report of Income schedules are to be reported on a calendar year-to-date
basis in thousands of dollars.
Schedule RI - Income Statement
1480 --
Dollar Amounts in Thousands
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1. Interest income
a. Interest and fee income on loans:
(1) In domestic offices:
(a) Loans secured by real estate----------------RIAD -------
4011 653,775 1.a.1.a
(b) Loans to depository institutions------------RIAD -------
(c) Loans to finance agricultural production 4019 4,276 1.a.1.b
and other loans to farmers------------------RIAD -------
4024 22 1.a.1.c
(d) Commercial and industrial loans-------------RIAD -------
4012 340,201 1.a.1.d
(e) Acceptances of other banks------------------RIAD -------
(f) Loans to individuals for household, 4026 0 1.a.1.e
family, and other personal expenditures: -------
(1) Credit cards and related plans----------RIAD -------
4054 13,621 1.a.1.f.1
(2) Other-----------------------------------RIAD -------
(g) Loans to foreign governments and official 4055 60,083 1.a.1.f.2
institutions--------------------------------RIAD -------
(h) Obligations (other than securities and 4056 0 1.a.1.g
leases) of states and political -------
subdivisions in the U.S.:
(1) Taxable obligations---------------------RIAD -------
4503 99 1.a.1.h.1
(2) Tax-exempt obligations------------------RIAD -------
4504 7,599 1.a.1.h.2
(i) All other loans in domestic offices---------RIAD -------
4058 12,012 1.a.1.i
(2) In foreign offices, Edge and Agreement -------
subsidiaries, and IBFs--------------------------RIAD -------
b. Income from lease financing receivables: 4059 0 1.a.2
(1) Taxable leases----------------------------------RIAD -------
4505 36,976 1.b.1
(2) Tax-exempt leases-------------------------------RIAD -------
c. Interest income on balances due from depository 4307 0 1.b.2
institutions: (1) -------
(1) In domestic offices-----------------------------RIAD -------
(2) In foreign offices, Edge and Agreement 4105 557 1.c.1
subsidiaries, and IBFs--------------------------RIAD -------
d. Interest and dividend income on securities: 4106 0 1.c.2
(1) U.S. Treasury securities and U.S. Government -------
agency and corporation obligations--------------RIAD -------
(2) Securities issued by states and political 4027 287,674 1.d.1
subdivisions in the U.S.: -------
(a) Taxable securities--------------------------RIAD -------
4506 0 1.d.2.a
(b) Tax-exempt securities-----------------------RIAD -------
4507 11,434 1.d.2.b
(3) Other domestic debt securities------------------RIAD -------
3657 72,826 1.d.3
(4) Foreign debt securities-------------------------RIAD -------
(5) Equity securities (including investments in 3658 1,390 1.d.4
mutual funds)-----------------------------------RIAD -------
3659 6,988 1.d.5
e. Interest income from trading assets-----------------RIAD -------
4069 746 1.e
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(1) Includes interest income on time certificates of deposits not held for
trading.
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4
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Schedule RI-Continued Dollar Amounts in Thousands
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1. Interest income (continued) Year-to-date
f. Interest income on federal funds sold and securities
purchased under agreements to resell in domestic
offices of the bank and of its Edge and Agreement
subsidiaries and in IBFs ----------
---------------------------------------- RIAD 7,892 1.f
4020 ----------
g. Total interest income (sum of items 1.a through 1.f) ----------
------------ RIAD 1,518,166 1.g
4107 ----------
2. Interest expense:
a. Interest on deposits:
(1) Interest on deposits in domestic offices:
(a) Transaction accounts (NOW accounts, ATS accounts, and
telephone and preauthorized transfer accounts) ----------
-------------- RIAD 34,791 2.a.1.a
4508 ----------
(b) Nontransaction accounts:
(1) Money market deposit accounts (MMDAs) ----------
--------------------- RIAD 114,440 2.a.1.b.1
4509 ----------
(2) Other savings deposits ----------
------------------------------------ RIAD 43,429 2.a.1.b.2
4111 ----------
(3) Time certificates of deposit of $100,000 or more ----------
---------- RIAD 61,242 2.a.1.b.3
4174 ----------
(4) All other time deposits ----------
----------------------------------- RIAD 212,039 2.a.1.b.4
4512 ----------
(2) Interest on deposits in foreign offices, Edge and agreement
subsidiaries, and IBFs ----------
---------------------------------------- RIAD 0 2.a.2
4172 ----------
b. Expense of federal funds purchased and securities sold under
agreements to repurchase in domestic offices of the bank and of
its Edge and Agreement subsidiaries, and in IBFs ----------
---------------- RIAD 107,871 2.b
4180 ----------
c. Interest on demand notes issued to the U.S. Treasury, trading
liabilities, and on other borrowed money ----------
------------------------ RIAD 39,158 2.c
4185 ----------
d. Not applicable
e. Interest on subordinated notes and debentures ----------
------------------- RIAD 11,303 2.e
4200 ----------
f. Total interest expense (sum of items 2.a through 2.e) ----------
----------- RIAD 624,273 2.f
4073 ----------
3. Net interest income (item 1.g minus 2.f) --------
---------------------------------------- RIAD 893,893 3.
4074 --------
4. Provisions:
a. Provision for loan and lease losses --------
------------------------------------------- RIAD 49,904 4.a
4230 --------
b. Provision for allocated transfer risk --------
----------------------------------------- RIAD 0 4.b
4243 --------
5. Noninterest income:
a. Income from fiduciary activities ----------
-------------------------------- RIAD 43,689 5.a
4070 ----------
b. Service charges on deposit accounts in domestic offices ----------
--------- RIAD 97,340 5.b
4080 ----------
c. Trading revenue ----------
------------------------------------------------- RIAD 405 5.c
4075 ----------
d.-e. Not applicable
f. Other noninterest income:
(1) Other fee income ----------
---------------------------------------------- RIAD 47,072 5.f.1
5407 ----------
(2) All other noninterest income* ----------
--------------------------------- RIAD 42,089 5.f.2
5408 ----------
g. Total noninterest income (sum of items 5.a through 5.f) --------
----------------------- RIAD 230,695 5.g
4079 --------
6.a. Realized gains (losses) on held-to-maturity securities --------
------------------------ RIAD 5 6.a
3521 --------
b. Realized gains (losses) on available-for-sale securities --------
---------------------- RIAD 528 6.b
3196 --------
7. Noninterest expense:
a. Salaries and employee benefits ----------
---------------------------------- RIAD 245,988 7.a
4135 ----------
b. Expenses of premises and fixed assets (net of rental
income)
(excluding salaries and employee benefits and mortgage
interest) ----------
------------------------------------------------------- RIAD 83,724 7.b
4217 ----------
c. Other noninterest expense* ----------
-------------------------------------- RIAD 320,660 7.c
4092 ----------
d. Total noninterest expense (sum of items 7.a through 7.c) --------
---------------------- RIAD 650,262 7.d
4093 --------
8. Income (loss) before income taxes and extraordinary items and other
adjustments (item 3 plus or minus items 4.a, 4.b, 5.g, 6.a, 6.b, and 7.d) --------
------- RIAD 424,853 8.
4301 --------
9. Applicable income taxes (on item 8) --------
--------------------------------------------- RIAD 149,030 9.
4302 --------
10. Income (loss) before extraordinary items and other adjustments (item 8
minus 9) --------
------------------------------------------------------------------------ RIAD 275,823 10.
4300 --------
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5
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Schedule RI-Continued Dollar Amounts in Thousands
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Year-to-date
11. Extraordinary items and other adjustments, net of income taxes
(item 11.a minus 11.b) -------
------------------------------------------------------- RIAD 0 11.
4320 -------
12. Net income (loss) (sum of items 10 and 11) -------
----------------------------------- RIAD 276,823 12.
4340 -------
Memoranda
1481
Dollar Amounts in Thousands
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Year-to-date
1. Interest expense incurred to carry tax-exempt securities, loans, and leases
acquired after August 7, 1986, that is not deductible for federal income tax
purposes --------
------------------------------------------------------------------------ RIAD 0 M.1
4513 --------
2. Income from the sale and servicing of mutual funds and annuities in domestic
offices (included in Schedule RI, item 8) --------
--------------------------------------- RIAD 28,911 M.2
8431 --------
3. Not applicable.
4. Not applicable.
5. Number of full-time equivalent employees on payroll at end of current period Number
(round to nearest whole-number) --------
------------------------------------------------- RIAD 5,238 M.5
4150 --------
6. Not applicable
7. If the reporting bank has restated its balance sheet as a result of applying
push down accounting this calendar year, report the date of the bank's MM DD YY
acquisition --------
--------------------------------------------------------------------- RIAD 00000000 M.7
9106 --------
8. Trading revenue (from cash instruments and off-balance sheet derivative
instruments) (included in Schedule RI, items 5.c and 5.e):
a. Interest rate exposures --------
------------------------------------------------------- RIAD (2,017) M.8.a
8757 --------
b. Foreign exchange exposures --------
---------------------------------------------------- RIAD 2,422 M.8.b
8758 --------
c. Equity security and index exposures --------
------------------------------------------- RIAD 0 M.8.c
8759 --------
d. Commodity and other exposures --------
------------------------------------------------- RIAD 0 M.8.d
8760 --------
9. Impact on income of off-balance sheet derivatives held for purposes other than
trading:
a. Net increase (decrease) to interest income --------
------------------------------------ RIAD (815) M.9.a
8761 --------
b. Net (increase) decrease to interest expense --------
----------------------------------- RIAD (947) M.9.b
8762 --------
c. Other (noninterest) allocations --------
----------------------------------------------- RIAD 31 M.9.c
8763 --------
10. Credit losses on off-balance sheet derivatives --------
---------------------------------- RIAD 0 M.10
4251 --------
11. Does the reporting bank have a Subchapter S election in effect for federal
income tax purposes? Yes [_] No [_] M.11
12. Deferred portion of total applicable income taxes --------
included in Schedule R1, items 9 and 11 RIAD 0 M.12
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