The holes individually must fall within the .005 tolerance zone, and simultaneously, the two holes must be positioned within .002 of each other. (Basically, they cannot be more than .002 apart from each other at any point, or parallelism, if you wish).
The top Pattern Locating Tolerance Zone Framework (PLTZF) locks all rotations and origins in accordance to the datums. The bottom Feature Relating Tolerance Zone Framework (FRTZF) is allowed to tilt\rotate or shift within the confines of the PLTZF. Normally, The FRTZF controls orientation only to specified datums but, in this instance no Datum is specified so... no control. Build the PLTZF alignment and report position. Then use that same alignment to build a Best fit with the two holes and release all degrees of freedom and report the best fit position.
Composite Positional Tolerancing
7.5.1(b)(1) Where datum references are not specified I a lower segment of the composite feature control frame, the FRTZF is free to rotate and translate within the boundaries established and governed by the PLTZF.
Now, about that sanity check... I've checked, and I'm sorry to break it to you, but the men in white coats are on their way. Enjoy your visit to the padded room.