ELEVENTH SUPPLEMENTAL INDENTURE dated as of September 16, 2013 among
Exhibit 4.26
ELEVENTH SUPPLEMENTAL INDENTURE
dated as of September 16, 2013
among
▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC.
HOVNANIAN ENTERPRISES, INC.
The Other Guarantors Party Hereto
and
DEUTSCHE BANK NATIONAL TRUST COMPANY
(as successor to U.S. Bank National Association)
as Senior Trustee
6.25% Senior Notes due 2016
THIS ELEVENTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), entered into as of September 16, 2013 (the “Additional Securities Issue Date”), among ▇. ▇▇▇▇▇▇▇▇▇ Enterprises, Inc., a California corporation (the “Issuer”), Hovnanian Enterprises, Inc. (the “Company”), each of the other guarantors listed on Schedule I hereto (the “Subsidiary Guarantors” and, together with the Company, the “Guarantors”) and Deutsche Bank National Trust Company (as successor to U.S. Bank National Association), as Senior Trustee (the “Trustee”).
RECITALS
WHEREAS, the Issuer, the Company, the subsidiary guarantors party thereto and the Trustee entered into an indenture, dated as of August 8, 2005 (as amended or supplemented as of the date hereof, the “Indenture”), providing for the issuance of the Issuer’s 6.25% Senior Notes due 2016 (the “Notes”), initially in the aggregate principal amount of $300,000,000;
WHEREAS, the issuance and sale of Additional Notes in the aggregate principal amount of $41,581,000 (the “Additional Securities”) and the execution and delivery of this Supplemental Indenture have been authorized by resolutions adopted by the Board of Directors of the Issuer and all things necessary to make this Supplemental Indenture a valid agreement of the Issuer, in accordance with its terms, have been done, and the Issuer has done all things necessary to make the Additional Securities, when duly issued and executed by the Issuer and authenticated and delivered by the Trustee, the valid obligations of the Issuer as hereinafter provided;
WHEREAS, the guarantees of the Additional Securities and the execution and delivery of this Supplemental Indenture by the Company and the Subsidiary Guarantors have been duly authorized by the Boards of Directors of the Company and such Subsidiary Guarantors (or the ultimate managing member or sole member of such Subsidiary Guarantors, as applicable) and all things necessary to make this Supplemental Indenture a valid agreement of each Guarantor, in accordance with its terms, have been done, and each Guarantor has done all things necessary to make the Guarantees of the Additional Securities when duly issued and executed by each Guarantor and when the Additional Securities have been authenticated and delivered by the Trustee, the valid obligation of such Guarantor as hereinafter provided;
WHEREAS, Section 9.01(e) of the Indenture provides that the Issuer, the Company, the Subsidiary Guarantors and the Trustee are authorized to execute and deliver this Supplemental Indenture to cure any ambiguity, defect or inconsistency in the Indenture or the Notes without notice to or the consent of any Holder;
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WHEREAS, Section 9.01(k) of the Indenture provides that the Issuer, the Company, the Subsidiary Guarantors and the Trustee are authorized to execute and deliver this Supplemental Indenture to provide for the issuance of the Additional Securities without notice to or the consent of any Holder;
WHEREAS, the Issuer and the Company have complied with all conditions precedent provided for in the Indenture relating to this Supplemental Indenture;
WHEREAS, the Additional Securities and the Notes shall vote together and shall be treated as a single class for all purposes under the Indenture (as supplemented by this Supplemental Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase); and
WHEREAS, the Issuer and the Company have requested that the Trustee execute and deliver this Supplemental Indenture.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Issuer, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Additional Securities as follows:
SECTION 1. Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture.
SECTION 2. Section 2.02 of the Indenture is hereby amended by:
(a) deleting the word “and” at the end of Section 2.02(c)(ii);
(b) adding the following immediately after Section 2.02(c)(iii):
“, and
(iv) Additional Notes from time to time for original issue in aggregate principal amounts specified by the Issuer”
(b) deleting Section 2.02(c)(iii)(A)(2) in its entirety and replacing it with the following:
“(2) whether the Notes are to be Initial Notes, Initial Additional Notes, Exchange Notes or Additional Notes,”
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SECTION 3. The following terms relating to the Additional Securities are hereby established:
(a) The aggregate principal amount of the Additional Securities that may be authenticated and delivered under this Supplemental Indenture shall be $41,581,000.
(b) The issue price of the Additional Securities shall be 100.000% of the aggregate principal amount of the Additional Securities plus accrued interest from July 15, 2013 to the Additional Securities Issue Date, and the issuance date of the Additional Securities shall be the Additional Securities Issue Date. The date from which interest shall accrue on the Additional Securities shall be July 15, 2013.
(c) The Additional Securities shall have the other terms set forth in the form of global note attached hereto as Exhibit A and shall be issued as one or more Global Notes.
(d) The Additional Securities shall be considered Additional Notes issued pursuant to Section 2.02 of the Indenture (as amended by this Supplemental Indenture).
SECTION 4. The Additional Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A attached hereto. The Additional Securities shall be executed on behalf of each of the Issuer, the Company and the Subsidiary Guarantors and authenticated by the Trustee pursuant to Section 2.02 of the Indenture (as amended by this Supplemental Indenture).
SECTION 5. This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.
SECTION 6. This Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.
SECTION 7. This Supplemental Indenture is an amendment supplemental to the Indenture (as amended and supplemented to the date hereof) and the Indenture and this Supplemental Indenture will henceforth be read together.
SECTION 8. Except as expressly provided herein, all of the terms, provisions and conditions of the Indenture and the Notes shall remain in full force and effect.
SECTION 9. If any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision of this Supplemental Indenture or the Indenture that is required to be included by the Trust Indenture Act of 1939 as in force at the date as of which this Supplemental Indenture is executed, the provision required by said Act shall control.
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SECTION 10. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the Recitals contained herein, all of which are made solely by the Issuer, the Company and each of the Subsidiary Guarantors.
[Signature page follows]
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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.
| ▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC. | ||
| By: | /s/ J. ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Name: J. ▇▇▇▇▇ ▇▇▇▇▇▇ Title: Executive Vice President and Chief Financial Officer | ||
| HOVNANIAN ENTERPRISES, INC. | ||
| By: | /s/ J. ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Name: J. ▇▇▇▇▇ ▇▇▇▇▇▇ Title: Executive Vice President and Chief Financial Officer | ||
| K. HOV IP, INC. | ||
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ | |
| Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Title: Chief Executive Officer and Treasurer | ||
| K. HOV IP, II, INC. | ||
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ | |
| Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ Title: Chief Executive Officer and Treasurer | ||
| On behalf of each other entity named in Schedule A hereto | ||
| By: | /s/ J. ▇▇▇▇▇ ▇▇▇▇▇▇ | |
| Name: ▇▇▇▇▇ ▇▇▇▇▇▇ Title: Executive Vice President and Chief Financial Officer | ||
[Signature page to Supplemental Indenture]
| DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee | ||
| By: | /s/ ▇▇▇▇▇ ▇▇▇▇▇ | |
| Name: ▇▇▇▇▇ ▇▇▇▇▇ Title: Associate | ||
| By: | /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ | |
| Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Title: Associate |
[Signature page to Supplemental Indenture]
SCHEDULE I
Subsidiary Guarantors
ARBOR TRAILS, LLC
AUDDIE ENTERPRISES, L.L.C.
BUILDER SERVICES NJ, L.L.C.
BUILDER SERVICES PA, L.L.C.
DULLES COPPERMINE, L.L.C.
EASTERN NATIONAL TITLE AGENCY, LLC
EASTERN TITLE AGENCY, INC.
F&W MECHANICAL SERVICES, L.L.C.
FOUNDERS TITLE AGENCY OF MARYLAND, L.L.C.
FOUNDERS TITLE AGENCY, INC.
GLENRISE GROVE, L.L.C.
GOVERNOR’S ABSTRACT CO., INC.
HOMEBUYERS FINANCIAL SERVICES, L.L.C.
HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.
HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.
HOVNANIAN LAND INVESTMENT GROUP OF MARYLAND, L.L.C.
HOVNANIAN LAND INVESTMENT GROUP, L.L.C.
K. HOV IP, II, INC.
K. HOV IP, INC.
▇. ▇▇▇▇▇▇▇▇▇ ABERDEEN, LLC
▇. ▇▇▇▇▇▇▇▇▇ ACQUISITIONS, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT 4S, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ACQUA VISTA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ALISO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ALLENTOWN, L.L.C.
K. HOVNANIAN AT ANDALUSIA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ARBOR HEIGHTS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT AVENUE ONE, L.L.C.
K. HOVNANIAN AT BAKERSFIELD 463, L.L.C.
K. HOVNANIAN AT BARNEGAT I, L.L.C.
K. HOVNANIAN AT BARNEGAT II, L.L.C.
K. HOVNANIAN AT BELLA LAGO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT BERKELEY, L.L.C.
K. HOVNANIAN AT BLUE HERON PINES, L.L.C.
K. HOVNANIAN AT BRANCHBURG, L.L.C.
K. HOVNANIAN AT BRIDGEPORT, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT BRIDGEWATER I, L.L.C.
K. HOVNANIAN AT CAMP HILL, L.L.C.
K. HOVNANIAN AT CAPISTRANO, L.L.C.
K. HOVNANIAN AT CARLSBAD, LLC
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▇. ▇▇▇▇▇▇▇▇▇ AT CEDAR GROVE III, L.L.C.
K. HOVNANIAN AT CEDAR GROVE V, L.L.C.
K. HOVNANIAN AT CHADDS FORD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT CHARTER WAY, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT CHESTERFIELD, L.L.C.
K. HOVNANIAN AT CIELO, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT COASTLINE, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT CRANBURY, L.L.C.
K. HOVNANIAN AT DENVILLE, L.L.C.
K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇▇ HILLS, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ POINTE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EAST BRANDYWINE, L.L.C.
K. HOVNANIAN AT EASTLAKE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EDGEWATER II, L.L.C.
K. HOVNANIAN AT EDGEWATER, L.L.C.
K. HOVNANIAN AT EGG HARBOR TOWNSHIP II, L.L.C.
K. HOVNANIAN AT EGG HARBOR TOWNSHIP, L.L.C.
K. HOVNANIAN AT EL DORADO RANCH II, L.L.C.
K. HOVNANIAN AT EL DORADO RANCH, L.L.C.
K. HOVNANIAN AT ENCINITAS RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EVERGREEN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT FIFTH AVENUE, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT FOREST ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT FRANKLIN III, L.L.C.
K. HOVNANIAN AT FRANKLIN, L.L.C.
K. HOVNANIAN AT FREEHOLD TOWNSHIP, L.L.C.
K. HOVNANIAN AT FRESNO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GASLAMP SQUARE, L.L.C.
K. HOVNANIAN AT GILROY 60, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GRAND CYPRESS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GREAT NOTCH, L.L.C.
K. HOVNANIAN AT GUTTENBERG, L.L.C.
K. HOVNANIAN AT HACKETTSTOWN II, L.L.C.
K. HOVNANIAN AT HAMBURG, L.L.C.
K. HOVNANIAN AT HAWTHORNE, L.L.C.
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▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇’▇ MILL, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT HIGHLAND SHORES, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ POINTE, L.L.C.
K. HOVNANIAN AT HUNTFIELD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT JERSEY CITY IV, L.L.C.
K. HOVNANIAN AT JERSEY CITY V URBAN RENEWAL COMPANY, L.L.C.
K. HOVNANIAN AT KEYPORT, L.L.C.
K. HOVNANIAN AT LA COSTA GREENS, L.L.C.
K. HOVNANIAN AT LA COSTA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LA HABRA KNOLLS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LA LAGUNA, L.L.C.
K. HOVNANIAN AT LAKE BURDEN, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE RANCHO VIEJO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE RIDGE ESTATES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE TERRAPIN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ V, L.L.C.
K. HOVNANIAN AT ▇▇▇ SQUARE L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇ ▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LITTLE EGG HARBOR TOWNSHIP II, L.L.C.
K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C.
K. HOVNANIAN AT LONG HILL, L.L.C.
K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP I, L.L.C.
K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP II, L.L.C.
K. HOVNANIAN AT LOWER MAKEFIELD TOWNSHIP I, L.L.C.
K. HOVNANIAN AT LOWER ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT LOWER MORELAND II, L.L.C.
K. HOVNANIAN AT MAHWAH VI, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ PARK, L.L.C.
K. HOVNANIAN AT MANALAPAN III, L.L.C.
K. HOVNANIAN AT MANSFIELD I, L.L.C.
K. HOVNANIAN AT MANSFIELD II, L.L.C.
K. HOVNANIAN AT MANSFIELD III, L.L.C.
K. HOVNANIAN AT MANTECA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MAPLE AVENUE, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP IX, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP V, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP VIII, L.L.C.
K. HOVNANIAN AT MARLBORO VI, L.L.C.
K. HOVNANIAN AT MARLBORO VII, L.L.C.
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▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MENDHAM TOWNSHIP, L.L.C.
K. HOVNANIAN AT MENIFEE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MIDDLE TOWNSHIP II, L.L.C.
K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C.
K. HOVNANIAN AT MIDDLETOWN II, L.L.C.
K. HOVNANIAN AT MIDDLETOWN III, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MIDDLETOWN, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MILLVILLE I, L.L.C.
K. HOVNANIAN AT MILLVILLE II, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT MONROE NJ II, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ NJ, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MONTVALE II, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MONTVALE, L.L.C.
K. HOVNANIAN AT MOSAIC, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MUIRFIELD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT NEW WINDSOR, L.L.C.
K. HOVNANIAN AT NORTH BERGEN. L.L.C.
K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ II, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ III, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ IV, L.L.C.
K. HOVNANIAN AT NORTH HALEDON, L.L.C.
K. HOVNANIAN AT NORTH WILDWOOD, L.L.C.
K. HOVNANIAN AT NORTHAMPTON, L.L.C.
K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT NORTHFIELD, L.L.C.
K. HOVNANIAN AT OCEAN TOWNSHIP, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT OCEAN WALK, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT OCEANPORT, L.L.C.
K. HOVNANIAN AT OLD BRIDGE, L.L.C.
K. HOVNANIAN AT OLDE ORCHARD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARK LANE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARKSIDE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARSIPPANY, L.L.C.
K. HOVNANIAN AT PARSIPPANY-▇▇▇▇ HILLS, L.L.C.
K. HOVNANIAN AT PAVILLION PARK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PIAZZA D’ORO, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT PITTSGROVE, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C.
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▇. ▇▇▇▇▇▇▇▇▇ AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.
K. HOVNANIAN AT POSITANO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT RANCHO SANTA ▇▇▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT RAPHO, L.L.C.
K. HOVNANIAN AT RESERVES AT WHEATLAND, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT RIDGEMONT, L.L.C.
K. HOVNANIAN AT RIVERBEND, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT RODERUCK, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ LANTANA, L.L.C.
K. HOVNANIAN AT SAGE, L.L.C.
K. HOVNANIAN AT SANTA NELLA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SAWMILL, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT SAYREVILLE, L.L.C.
K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.
K. HOVNANIAN AT SEASONS LANDING, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ ▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SHREWSBURY, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SILVER SPRING, L.L.C.
K. HOVNANIAN AT SKYE ISLE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SMITHVILLE, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ POINT, L.L.C.
K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SOUTH BRUNSWICK, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT STATION SQUARE, L.L.C.
K. HOVNANIAN AT SUNRIDGE PARK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SYCAMORE, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT THE ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THE GABLES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THE MONARCH, L.L.C.
K. HOVNANIAN AT THE PRESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THORNBURY, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT TRAIL RIDGE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER FREEHOLD TOWNSHIP II, L.L.C.
K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP III, L.L.C.
K. HOVNANIAN AT UPPER MAKEFIELD I, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER PROVIDENCE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER UWCHLAN II, L.L.C.
S-5
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER UWCHLAN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇ DEL SOL, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT VERONA ESTATES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT VERONA URBAN RENEWAL, L.L.C.
K. HOVNANIAN AT VICTORVILLE, L.L.C.
K. HOVNANIAN AT VINELAND, L.L.C.
K. HOVNANIAN AT VISTA DEL SOL, L.L.C.
K. HOVNANIAN AT WALDWICK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ TOWNSHIP, L.L.C.
K. HOVNANIAN AT WASHINGTON, L.L.C.
K. HOVNANIAN AT WATERSTONE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ IX, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇, VIII, L.L.C.
K. HOVNANIAN AT WEST VIEW ESTATES, L.L.C.
K. HOVNANIAN AT WEST WINDSOR, L.L.C.
K. HOVNANIAN AT WESTSHORE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WILDWOOD BAYSIDE, L.L.C.
K. HOVNANIAN AT WILLOW BROOK, L.L.C.
K. HOVNANIAN AT WINCHESTER, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WOODCREEK WEST, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WOOLWICH I, L.L.C.
K. HOVNANIAN CAMBRIDGE HOMES, L.L.C.
K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.
K. HOVNANIAN CLASSICS, L.L.C.
K. HOVNANIAN COMMUNITIES, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF MARYLAND, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF NEW YORK, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF PENNSYLVANIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF SOUTHERN CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES, LLC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION II, INC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION III, INC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION MANAGEMENT, INC.
▇. ▇▇▇▇▇▇▇▇▇ CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.
K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF D.C., INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF DELAWARE, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF GEORGIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF ILLINOIS, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF KENTUCKY, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF MARYLAND, INC.
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▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF MINNESOTA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW JERSEY II, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW JERSEY, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW YORK, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NORTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF OHIO, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF PENNSYLVANIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF SOUTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF TEXAS, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF WEST VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DFW BELMONT, LLC
▇. ▇▇▇▇▇▇▇▇▇ DFW RIDGEVIEW, LLC
▇. ▇▇▇▇▇▇▇▇▇ EASTERN PENNSYLVANIA, L.L.C.
K. HOVNANIAN EDGEBROOK, LLC
▇. ▇▇▇▇▇▇▇▇▇ ESTATES AT REGENCY, L.L.C.
K. HOVNANIAN FIRST HOMES, L.L.C.
K. HOVNANIAN FLORIDA REALTY, L.L.C.
K. HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, LLC
▇. ▇▇▇▇▇▇▇▇▇ FOUR SEASONS AT GOLD HILL, LLC
▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN BUILDING COMPANY, LLC
▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN HOMES, LLC
▇. ▇▇▇▇▇▇▇▇▇ HAMPTONS AT OAK CREEK II, L.L.C.
K. HOVNANIAN HIDDEN HOLLOW, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOLDINGS NJ, L.L.C.
K. HOVNANIAN HOMES — DFW, L.L.C.
K. HOVNANIAN HOMES AT CAMERON STATION, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT CAMP SPRINGS, L.L.C.
K. HOVNANIAN HOMES AT CREEKSIDE, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT FAIRWOOD, L.L.C.
K. HOVNANIAN HOMES AT FOREST RUN, L.L.C.
K. HOVNANIAN HOMES AT GREENWAY FARM PARK TOWNS, L.L.C.
K. HOVNANIAN HOMES AT GREENWAY FARM, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇ STATION 1, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇▇▇ PLACE, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇ CREEK, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT RENAISSANCE PLAZA, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN HOMES AT ST. ▇▇▇▇▇ PLACE, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT THE HIGHLANDS, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT THE PADDOCKS, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES NORTHERN CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF D.C., L.L.C.
K. HOVNANIAN HOMES OF DELAWARE, L.L.C.
S-7
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF GEORGIA, L.L.C.
K. HOVNANIAN HOMES OF HOUSTON, L.L.C.
K. HOVNANIAN HOMES OF ▇▇▇▇▇▇▇▇ VILLAGE, L.L.C.
K. HOVNANIAN HOMES OF MARYLAND, L.L.C.
K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.
K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF PENNSYLVANIA, L.L.C.
K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF WEST VIRGINIA, L.L.C.
K. HOVNANIAN INDIAN TRAILS, LLC
▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ RESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ LIBERTY ON BLUFF CREEK, LLC
▇. ▇▇▇▇▇▇▇▇▇ MANALAPAN ACQUISITION, LLC
▇. ▇▇▇▇▇▇▇▇▇ MONARCH GROVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ NORTH CENTRAL ACQUISITIONS, L.L.C.
K. HOVNANIAN NORTH JERSEY ACQUISITIONS, L.L.C.
K. HOVNANIAN NORTHEAST SERVICES, L.L.C.
K. HOVNANIAN OF HOUSTON II, L.L.C.
K. HOVNANIAN OHIO REALTY, L.L.C.
K. HOVNANIAN OSTER HOMES, L.L.C.
K. HOVNANIAN PA REAL ESTATE, INC.
▇. ▇▇▇▇▇▇▇▇▇ PENNSYLVANIA ACQUISITIONS, L.L.C.
K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.
▇. ▇▇▇▇▇▇▇▇▇ PROPERTIES OF RED BANK, INC.
▇. ▇▇▇▇▇▇▇▇▇ RIVENDALE, LLC
▇. ▇▇▇▇▇▇▇▇▇ SCHADY RESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ SHORE ACQUISITIONS, L.L.C.
K. HOVNANIAN SOUTH FORK, LLC
▇. ▇▇▇▇▇▇▇▇▇ SOUTH JERSEY ACQUISITIONS, L.L.C.
K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.
K. HOVNANIAN STERLING RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ SUMMIT HOLDINGS, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF PENNSYLVANIA, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C.
K. HOVNANIAN SUMMIT HOMES, L.L.C.
K. HOVNANIAN T&C HOMES AT FLORIDA, L.L.C.
K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C.
K. HOVNANIAN TIMBRES AT ELM CREEK, LLC
▇. ▇▇▇▇▇▇▇▇▇ VENTURE I, L.L.C.
K. HOVNANIAN WATERBURY, LLC
▇. ▇▇▇▇▇▇▇▇▇ WHITE ROAD, LLC
▇. ▇▇▇▇▇▇▇▇▇ WINDWARD HOMES, LLC
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▇. ▇▇▇▇▇▇▇▇▇ WOODLAND POINTE, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT BAKERSFIELD, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT KENT ISLAND CONDOMINIUMS, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT KENT ISLAND, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT LOS BANOS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT ▇▇▇▇▇▇ VALLEY, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT PALM SPRINGS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT RENAISSANCE, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT RUSH CREEK, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT SILVER MAPLE FARM, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT ST. MARGARETS LANDING, L.L.C.
K. HOVNANIAN’S FOUR SEASONS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ PARKSIDE AT TOWNGATE, L.L.C.
KHIP, L.L.C.
LANDARAMA, INC.
M&M AT CHESTERFIELD, LLC
M&M AT CRESCENT COURT, L.L.C.
M&M AT WEST ORANGE, L.L.C.
M&M AT WHEATENA URBAN RENEWAL, L.L.C.
MATZEL & MUMFORD AT EGG HARBOR, L.L.C.
MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C.
MCNJ, INC.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF PENNSYLVANIA, L.L.C.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST VIRGINIA, L.L.C.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.
MMIP, L.L.C.
NEW LAND TITLE AGENCY, L.L.C.
PADDOCKS, L.L.C.
PARK TITLE COMPANY, LLC
PINE AYR, LLC
RIDGEMORE UTILITY, L.L.C.
SEABROOK ACCUMULATION CORPORATION
STONEBROOK HOMES, INC.
TERRAPIN REALTY, L.L.C.
S-9
THE MATZEL & MUMFORD ORGANIZATION, INC
WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C.
WASHINGTON HOMES, INC.
WESTMINSTER HOMES, INC.
WH PROPERTIES, INC
WOODLAND LAKE CONDOMINIUMS AT BOWIE NEW TOWN, L.L.C.
S-10
EXHIBIT A
[FACE OF NOTE]
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ANY OF ITS SUBSIDIARIES OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN.
THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED. TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE.
A-1
▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC.
| 6.25% Senior Notes Due 2016 | ||||
| CUSIP No.: ▇▇▇▇▇▇▇▇▇ | ||||
| No. | $41,581,000, or such other amount as is provided in the schedule of exchanges of interests in global notes attached hereto | |||
▇. ▇▇▇▇▇▇▇▇▇ Enterprises, Inc., a California corporation (the “Issuer,” which term includes any successor under the Indenture hereinafter referred to), for value received, promises to pay to Cede & Co., or its registered assigns, the principal sum of FORTY-ONE MILLION, FIVE HUNDRED AND EIGHTY-ONE THOUSAND DOLLARS ($41,581,000), or such other amount as is provided in a schedule of exchanges of interests in global notes attached hereto, on January 15, 2016.
Interest Rate: 6.25% per annum.
Interest Payment Dates: January 15 and July 15, commencing January 15, 2014.
Record Dates: January 1 and July 1.
Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same effect as if set forth at this place.
A-2
IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its duly authorized officer.
Dated: September 16, 2013
| ▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC. | ||||||
| By: | ||||||
| Name: | ||||||
| Title: | ||||||
A-3
Trustee’s Certificate of Authentication
This is one of the 6.25% Senior Notes Due 2016 described in the Indenture referred to in this Note.
| DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee | ||
| By: | ||
| Name: Title: Authorized Signatory | ||
| By: | ||
| Name: Title: Authorized Signatory | ||
A-4
[REVERSE SIDE OF NOTE]
▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC.
6.25% Senior Notes Due 2016
Capitalized terms used herein are used as defined in the Indenture referred to below unless otherwise indicated.
| 1. | Principal and Interest. |
▇. ▇▇▇▇▇▇▇▇▇ Enterprises, Inc. (the “Issuer,” which term includes any successor under the Indenture hereinafter referred to), a California corporation, promises to pay the principal of this Note on January 15, 2016.
The Issuer promises to pay interest on the principal amount of this Note on each interest payment date, as set forth on the face of this Note, at the rate of 6.25% per annum.
Interest will be payable semiannually (to the holders of record of the Notes at the close of business on the January 1 or July 1 immediately preceding the interest payment date) on each interest payment date, commencing January 15, 2014.
Interest on this Note will accrue from the most recent date to which interest has been paid on this Note or the Note surrendered in exchange for this Note (or, if there is no existing default in the payment of interest and if this Note is authenticated between a regular record date and the next interest payment date, from such interest payment date) or, if no interest has been paid, from July 15, 2013. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
| 2. | Paying Agent and Registrar. |
Initially, Deutsche Bank National Trust Company (the “Trustee”) will act as Paying Agent and Registrar. The Issuer may change or appoint any Paying Agent, Registrar or co-Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may act as Paying Agent, Registrar or co-Registrar.
| 3. | Indenture; Guarantees. |
This is one of the Notes issued under an Indenture dated as of August 8, 2005, among the Issuer, the Guarantors party thereto and the Trustee (the “Base Indenture”), as amended and supplemented by the Eleventh Supplemental Indenture dated as of September 16, 2013, among the Issuer, the Guarantors party thereto and the Trustee (the “Supplemental Indenture” and, together with the
R-1
Base Indenture, the “Indenture”). The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture will control.
The Notes are general unsecured obligations of the Issuer. The Base Indenture limits the original aggregate principal amount of the Notes issued thereunder to $300,000,000, and the Supplemental Indenture limits the aggregate principal amount of the Notes issued thereunder to $41,581,000, but Additional Notes may be issued pursuant to the Indenture (subject to the conditions stated therein), and the Notes issued as of the date hereof and all such Additional Notes vote together for all purposes as a single class. This Note is guaranteed by the Guarantors as set forth in the Indenture and the Guarantee endorsed hereon.
Reference is hereby made to the Indenture for a statement of the respective rights, duties and obligations thereunder of the Issuer, the Guarantors, the Trustee and the Holders.
| 4. | Optional Redemption. |
The Notes will be redeemable, in whole, at any time, or in part, from time to time, at the option of the Issuer upon not less than 30 nor more than 60 days’ notice at a redemption price equal to the sum of:
(a) 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date; plus
(b) the Make-Whole Amount.
The Trustee shall have no responsibility in connection with the calculation of such redemption price.
“Make-Whole Amount” means, in connection with any optional redemption of any Note, the excess, if any, of: (a) the aggregate present value as of the date of such redemption of each dollar of principal being redeemed and the amount of interest (exclusive of interest accrued to the redemption date) that would have been payable in respect of such dollar if such prepayment had not been made, determined by discounting, on a semiannual basis, such principal and interest at the Treasury Rate (determined on the Business Day preceding the date of such redemption) plus 0.50%, from the respective dates on which such principal and interest would have been payable if such payment had not been made; over (b) the principal amount of the Note being redeemed.
R-2
“Treasury Rate” means, in connection with the calculation of any Make-Whole Amount with respect to any Note, the yield to maturity at the time of computation of United States Treasury securities with a constant maturity, as compiled by and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data), equal to the then remaining maturity of the Note being prepaid. If no maturity exactly corresponds to such maturity, yields for the published maturities occurring prior to and after such maturity most closely corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month.
If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion shall deem appropriate and fair.
No Notes of $1,000 in original principal amount or less shall be redeemed in part. Notices of redemption may not be conditional.
If any Note is to be redeemed in part only, the notice of redemption that relates to that Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note will be issued in the name of the Holder thereof upon cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions thereof called for redemption.
| 5. | Repurchase Provisions. |
If a Change of Control occurs, each Holder shall have the right, at such Holder’s option, to require the Issuer to purchase all or any part (equal to $1,000 principal amount or any multiple of $1,000 in excess thereof) of such Holder’s Notes on a date that is no later than 90 days after notice of the Change of Control, at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date of repurchase as provided in, and subject to the terms of, the Indenture.
| 6. | Mandatory Redemption. |
There is no sinking fund for, or mandatory redemption of, the Notes.
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| 7. | Discharge and Defeasance. |
If the Issuer deposits with the Trustee money and/or U.S. Government Obligations sufficient to pay the then outstanding principal of, premium, interest and Additional Interest, if any, and accrued interest on the Notes to redemption or maturity, as the case may be, the Issuer, the Company and the Guarantors may in certain circumstances be discharged from the Indenture, the Notes and the Guarantees or may be discharged from certain of their obligations under certain provisions of the Indenture.
| 8. | Registered Form; Denominations; Transfer; Exchange. |
The Notes are in registered form only without coupons in denominations of $1,000 principal amount and any multiple of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the transfer of, or exchange any Note or certain portions of a Note.
| 9. | Persons Deemed Owners. |
The registered Holder of this Note shall be treated as the owner of it for all purposes.
| 10. | Defaults and Remedies. |
If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due and payable immediately. If a bankruptcy or insolvency default with respect to the Issuer or the Company occurs and is continuing, the Notes automatically become immediately due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies.
| 11. | Amendment, Supplement and Waiver. |
Subject to certain exceptions, the Indenture, the Notes and the Guarantees may be amended or supplemented, or future compliance therewith may be waived, with the consent of the Holders of a majority in principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the Issuer, the Company, the Guarantors and the Trustee may amend or supplement the Indenture, the Notes or the Guarantees to, among other things, cure any ambiguity, defect or inconsistency or if such amendment or supplement does not adversely affect the legal rights of any Holder.
R-4
| 12. | Trustee Dealings With Issuer. |
The Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer or its affiliates, with the same rights as if it were not Trustee; however, if it acquires any conflicting interest (as defined in the Trust Indenture Act), it must eliminate such conflict, apply to the Commission for permission to continue or resign.
| 13. | No Recourse Against Others. |
An incorporator, and any past, present or future director, officer, partner, employee or stockholder, as such, of the Issuer, the Company or the Guarantors shall not have any liability for any obligations of the Issuer, the Company or the Guarantors under the Notes, the Indenture or the Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes.
| 14. | Governing Law. |
THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
| 15. | CUSIP Numbers. |
Pursuant to a recommendation promulgated by the Committee on Uniform Note Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice and reliance may be placed only on the other identification numbers placed thereon.
| 16. | Authentication. |
This Note is not valid until the Trustee (or Authenticating Agent) manually signs the certificate of authentication on the other side of this Note.
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| 17. | Abbreviations. |
Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act).
The Issuer will furnish a copy of the Indenture to any Holder upon written request and without charge.
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[FORM OF TRANSFER NOTICE]
FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto
Insert Social Security or Taxpayer Identification No.
Please print or typewrite name and address, including zip code, of assignee
the within Note and all rights thereunder, hereby irrevocably constituting and appointing
agent to transfer this Note on the books of the Issuer with full power of substitution in the premises.
| Dated: | Signed: | |||||
|
(sign exactly as name appears on the other side of this Note) | ||||||
| Signature Guarantee1: |
| 1 | Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Note Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. |
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OPTION OF HOLDER TO ELECT PURCHASE
If you wish to have all of this Note purchased by the Issuer pursuant to Section 4.10 or Section 4.12 of the Indenture, check the box: 9
If you wish to have a portion of this Note purchased by the Issuer pursuant to Section 4.10 or Section 4.12 of the Indenture, state the amount (in original principal amount) below:
$ .
Date:
Your Signature:
(Sign exactly as your name appears on the other side of this Note)
Signature Guarantee:2
| 2 | Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Trustee, which requirements include membership or participation in the Note Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. |
R-8
SCHEDULE OF EXCHANGES OF INTERESTS IN GLOBAL NOTES
The following exchanges of a part of this Global Note for Certificated Notes or an interest in another Global Note, or exchanges of a part of another Global Note or Certificated Note for an interest in this Global Note, have been made:
| Date of Exchange |
Amount of decrease in principal amount of this Global Note |
Amount of increase in principal amount of this Global Note |
Principal amount of this Global Note following such decrease or increase |
Signature of authorized officer of Trustee |
R-9
GUARANTEE
The undersigned (the “Guarantors”) have unconditionally guaranteed, jointly and severally (such guarantee by each Guarantor being referred to herein as the “Guarantee”) (i) the due and punctual payment of the principal of and interest and Additional Interest, if any, on the Issuer’s 6.25% Senior Notes due 2016 (the “Notes”), whether at maturity or on an interest payment date, by acceleration or otherwise, on the Notes, to the extent lawful, and of all other obligations of the Issuer to the Holders or the Trustee all in accordance with the terms set forth in Article 6 of the Indenture and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise.
No past, present or future stockholder, officer, director, employee, partner or incorporator, as such, of any of the Guarantors shall have any liability under the Guarantee evidenced hereby by reason of such person’s status as stockholder, officer, director, employee, partner or incorporator. Each Holder of a Note by accepting a Note waives and releases all such liability. This waiver and release are part of the consideration for the issuance of the Guarantee.
Each Holder of a Note by accepting a Note agrees that any Guarantor named below shall have no further liability with respect to its Guarantee if such Guarantor otherwise ceases to be liable in respect of its Guarantee in accordance with the terms of the Indenture.
The Guarantee evidenced hereby shall not be valid or obligatory for any purpose until the certificate of authentication on the Notes upon which the Guarantee is noted shall have been executed by the Trustee under the Indenture by the manual signature of one of its authorized officers.
This Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York.
HOVNANIAN ENTERPRISES, INC.
ARBOR TRAILS, LLC
AUDDIE ENTERPRISES, L.L.C.
BUILDER SERVICES NJ, L.L.C.
BUILDER SERVICES PA, L.L.C.
DULLES COPPERMINE, L.L.C.
EASTERN NATIONAL TITLE AGENCY, LLC
EASTERN TITLE AGENCY, INC.
F&W MECHANICAL SERVICES, L.L.C.
FOUNDERS TITLE AGENCY OF MARYLAND, L.L.C.
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FOUNDERS TITLE AGENCY, INC.
GLENRISE GROVE, L.L.C.
GOVERNOR’S ABSTRACT CO., INC.
HOMEBUYERS FINANCIAL SERVICES, L.L.C.
HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.
HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.
HOVNANIAN LAND INVESTMENT GROUP OF MARYLAND, L.L.C.
HOVNANIAN LAND INVESTMENT GROUP, L.L.C.
K. HOV IP, II, INC.
K. HOV IP, INC.
▇. ▇▇▇▇▇▇▇▇▇ ABERDEEN, LLC
▇. ▇▇▇▇▇▇▇▇▇ ACQUISITIONS, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT 4S, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ACQUA VISTA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ALISO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ALLENTOWN, L.L.C.
K. HOVNANIAN AT ANDALUSIA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ARBOR HEIGHTS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT AVENUE ONE, L.L.C.
K. HOVNANIAN AT BAKERSFIELD 463, L.L.C.
K. HOVNANIAN AT BARNEGAT I, L.L.C.
K. HOVNANIAN AT BARNEGAT II, L.L.C.
K. HOVNANIAN AT BELLA LAGO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT BERKELEY, L.L.C.
K. HOVNANIAN AT BLUE HERON PINES, L.L.C.
K. HOVNANIAN AT BRANCHBURG, L.L.C.
K. HOVNANIAN AT BRIDGEPORT, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT BRIDGEWATER I, L.L.C.
K. HOVNANIAN AT CAMP HILL, L.L.C.
K. HOVNANIAN AT CAPISTRANO, L.L.C.
K. HOVNANIAN AT CARLSBAD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT CEDAR GROVE III, L.L.C.
K. HOVNANIAN AT CEDAR GROVE V, L.L.C.
K. HOVNANIAN AT CHADDS FORD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT CHARTER WAY, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT CHESTERFIELD, L.L.C.
K. HOVNANIAN AT CIELO, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT COASTLINE, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT CRANBURY, L.L.C.
K. HOVNANIAN AT DENVILLE, L.L.C.
K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.
R-11
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇▇ HILLS, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ POINTE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EAST BRANDYWINE, L.L.C.
K. HOVNANIAN AT EASTLAKE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EDGEWATER II, L.L.C.
K. HOVNANIAN AT EDGEWATER, L.L.C.
K. HOVNANIAN AT EGG HARBOR TOWNSHIP II, L.L.C.
K. HOVNANIAN AT EGG HARBOR TOWNSHIP, L.L.C.
K. HOVNANIAN AT EL DORADO RANCH II, L.L.C.
K. HOVNANIAN AT EL DORADO RANCH, L.L.C.
K. HOVNANIAN AT ENCINITAS RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT EVERGREEN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT FIFTH AVENUE, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT FOREST ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT FRANKLIN III, L.L.C.
K. HOVNANIAN AT FRANKLIN, L.L.C.
K. HOVNANIAN AT FREEHOLD TOWNSHIP, L.L.C.
K. HOVNANIAN AT FRESNO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GASLAMP SQUARE, L.L.C.
K. HOVNANIAN AT GILROY 60, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GRAND CYPRESS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT GREAT NOTCH, L.L.C.
K. HOVNANIAN AT GUTTENBERG, L.L.C.
K. HOVNANIAN AT HACKETTSTOWN II, L.L.C.
K. HOVNANIAN AT HAMBURG, L.L.C.
K. HOVNANIAN AT HAWTHORNE, L.L.C.
K. HOVNANIAN AT HERSHEY’S MILL, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT HIGHLAND SHORES, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ POINTE, L.L.C.
K. HOVNANIAN AT HUNTFIELD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT JERSEY CITY IV, L.L.C.
K. HOVNANIAN AT JERSEY CITY V URBAN RENEWAL COMPANY, L.L.C.
K. HOVNANIAN AT KEYPORT, L.L.C.
K. HOVNANIAN AT LA COSTA GREENS, L.L.C.
R-12
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇ ▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LA HABRA KNOLLS, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LA LAGUNA, L.L.C.
K. HOVNANIAN AT LAKE BURDEN, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE RANCHO VIEJO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE RIDGE ESTATES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LAKE TERRAPIN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ V, L.L.C.
K. HOVNANIAN AT ▇▇▇ SQUARE L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇ ▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT LITTLE EGG HARBOR TOWNSHIP II, L.L.C.
K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C.
K. HOVNANIAN AT LONG HILL, L.L.C.
K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP I, L.L.C.
K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP II, L.L.C.
K. HOVNANIAN AT LOWER MAKEFIELD TOWNSHIP I, L.L.C.
K. HOVNANIAN AT LOWER ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT LOWER MORELAND II, L.L.C.
K. HOVNANIAN AT MAHWAH VI, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ PARK, L.L.C.
K. HOVNANIAN AT MANALAPAN III, L.L.C.
K. HOVNANIAN AT MANSFIELD I, L.L.C.
K. HOVNANIAN AT MANSFIELD II, L.L.C.
K. HOVNANIAN AT MANSFIELD III, L.L.C.
K. HOVNANIAN AT MANTECA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MAPLE AVENUE, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP IX, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP V, L.L.C.
K. HOVNANIAN AT MARLBORO TOWNSHIP VIII, L.L.C.
K. HOVNANIAN AT MARLBORO VI, L.L.C.
K. HOVNANIAN AT MARLBORO VII, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MENDHAM TOWNSHIP, L.L.C.
K. HOVNANIAN AT MENIFEE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MIDDLE TOWNSHIP II, L.L.C.
K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C.
K. HOVNANIAN AT MIDDLETOWN II, L.L.C.
K. HOVNANIAN AT MIDDLETOWN III, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MIDDLETOWN, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MILLVILLE I, L.L.C.
K. HOVNANIAN AT MILLVILLE II, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ ▇▇, L.L.C.
K. HOVNANIAN AT MONROE NJ II, LLC
R-13
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ NJ, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MONTVALE II, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MONTVALE, L.L.C.
K. HOVNANIAN AT MOSAIC, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT MUIRFIELD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT NEW WINDSOR, L.L.C.
K. HOVNANIAN AT NORTH BERGEN. L.L.C.
K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ II, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ III, L.L.C.
K. HOVNANIAN AT NORTH ▇▇▇▇▇▇▇▇ IV, L.L.C.
K. HOVNANIAN AT NORTH HALEDON, L.L.C.
K. HOVNANIAN AT NORTH WILDWOOD, L.L.C.
K. HOVNANIAN AT NORTHAMPTON, L.L.C.
K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT NORTHFIELD, L.L.C.
K. HOVNANIAN AT OCEAN TOWNSHIP, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT OCEAN WALK, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT OCEANPORT, L.L.C.
K. HOVNANIAN AT OLD BRIDGE, L.L.C.
K. HOVNANIAN AT OLDE ORCHARD, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARK LANE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARKSIDE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PARSIPPANY, L.L.C.
K. HOVNANIAN AT PARSIPPANY-▇▇▇▇ HILLS, L.L.C.
K. HOVNANIAN AT PAVILLION PARK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT PIAZZA D’ORO, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT PITTSGROVE, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C.
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.
K. HOVNANIAN AT POSITANO, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇, L.L.C.
K. HOVNANIAN AT RANCHO SANTA ▇▇▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇ I, L.L.C.
K. HOVNANIAN AT RAPHO, L.L.C.
K. HOVNANIAN AT RESERVES AT WHEATLAND, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT RIDGEMONT, L.L.C.
K. HOVNANIAN AT RIVERBEND, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT RODERUCK, L.L.C.
R-14
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇ LANTANA, L.L.C.
K. HOVNANIAN AT SAGE, L.L.C.
K. HOVNANIAN AT SANTA NELLA, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SAWMILL, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT SAYREVILLE, L.L.C.
K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.
K. HOVNANIAN AT SEASONS LANDING, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ ▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SHREWSBURY, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SILVER SPRING, L.L.C.
K. HOVNANIAN AT SKYE ISLE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SMITHVILLE, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ POINT, L.L.C.
K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SOUTH BRUNSWICK, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT STATION SQUARE, L.L.C.
K. HOVNANIAN AT SUNRIDGE PARK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT SYCAMORE, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT THE ▇▇▇▇▇▇, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THE GABLES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THE MONARCH, L.L.C.
K. HOVNANIAN AT THE PRESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT THORNBURY, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT TRAIL RIDGE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER FREEHOLD TOWNSHIP II, L.L.C.
K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP III, L.L.C.
K. HOVNANIAN AT UPPER MAKEFIELD I, INC.
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER PROVIDENCE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT UPPER UWCHLAN II, L.L.C.
K. HOVNANIAN AT UPPER UWCHLAN, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇ DEL SOL, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT VERONA ESTATES, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ ▇▇▇▇▇ RENEWAL, L.L.C.
K. HOVNANIAN AT VICTORVILLE, L.L.C.
K. HOVNANIAN AT VINELAND, L.L.C.
K. HOVNANIAN AT VISTA DEL SOL, L.L.C.
K. HOVNANIAN AT WALDWICK, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇ TOWNSHIP, L.L.C.
K. HOVNANIAN AT WASHINGTON, L.L.C.
K. HOVNANIAN AT WATERSTONE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇ IX, L.L.C.
K. HOVNANIAN AT ▇▇▇▇▇, VIII, L.L.C.
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▇. ▇▇▇▇▇▇▇▇▇ AT WEST VIEW ESTATES, L.L.C.
K. HOVNANIAN AT WEST WINDSOR, L.L.C.
K. HOVNANIAN AT WESTSHORE, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇▇▇ RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WILDWOOD BAYSIDE, L.L.C.
K. HOVNANIAN AT WILLOW BROOK, L.L.C.
K. HOVNANIAN AT WINCHESTER, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WOODCREEK WEST, LLC
▇. ▇▇▇▇▇▇▇▇▇ AT WOOLWICH I, L.L.C.
K. HOVNANIAN CAMBRIDGE HOMES, L.L.C.
K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.
K. HOVNANIAN CLASSICS, L.L.C.
K. HOVNANIAN COMMUNITIES, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF MARYLAND, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF NEW YORK, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF PENNSYLVANIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF SOUTHERN CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ COMPANIES, LLC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION II, INC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION III, INC
▇. ▇▇▇▇▇▇▇▇▇ CONSTRUCTION MANAGEMENT, INC.
▇. ▇▇▇▇▇▇▇▇▇ CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.
K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF D.C., INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF DELAWARE, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF GEORGIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF ILLINOIS, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF KENTUCKY, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF MARYLAND, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF MINNESOTA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW JERSEY II, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW JERSEY, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW YORK, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NORTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF OHIO, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF PENNSYLVANIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF SOUTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF TEXAS, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF WEST VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ DFW BELMONT, LLC
▇. ▇▇▇▇▇▇▇▇▇ DFW RIDGEVIEW, LLC
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▇. ▇▇▇▇▇▇▇▇▇ EASTERN PENNSYLVANIA, L.L.C.
K. HOVNANIAN EDGEBROOK, LLC
▇. ▇▇▇▇▇▇▇▇▇ ESTATES AT REGENCY, L.L.C.
K. HOVNANIAN FIRST HOMES, L.L.C.
K. HOVNANIAN FLORIDA REALTY, L.L.C.
K. HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, LLC
▇. ▇▇▇▇▇▇▇▇▇ FOUR SEASONS AT GOLD HILL, LLC
▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN BUILDING COMPANY, LLC
▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN HOMES, LLC
▇. ▇▇▇▇▇▇▇▇▇ HAMPTONS AT OAK CREEK II, L.L.C.
K. HOVNANIAN HIDDEN HOLLOW, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOLDINGS NJ, L.L.C.
K. HOVNANIAN HOMES — DFW, L.L.C.
K. HOVNANIAN HOMES AT CAMERON STATION, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT CAMP SPRINGS, L.L.C.
K. HOVNANIAN HOMES AT CREEKSIDE, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT FAIRWOOD, L.L.C.
K. HOVNANIAN HOMES AT FOREST RUN, L.L.C.
K. HOVNANIAN HOMES AT GREENWAY FARM PARK TOWNS, L.L.C.
K. HOVNANIAN HOMES AT GREENWAY FARM, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇ STATION 1, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇▇▇ PLACE, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇ CREEK, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT RENAISSANCE PLAZA, L.L.C.
K. HOVNANIAN HOMES AT ▇▇▇▇▇▇▇, L.L.C.
K. HOVNANIAN HOMES AT ST. ▇▇▇▇▇ PLACE, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT THE HIGHLANDS, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES AT THE PADDOCKS, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES NORTHERN CALIFORNIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF D.C., L.L.C.
K. HOVNANIAN HOMES OF DELAWARE, L.L.C.
K. HOVNANIAN HOMES OF GEORGIA, L.L.C.
K. HOVNANIAN HOMES OF HOUSTON, L.L.C.
K. HOVNANIAN HOMES OF ▇▇▇▇▇▇▇▇ VILLAGE, L.L.C.
K. HOVNANIAN HOMES OF MARYLAND, L.L.C.
K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.
K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF PENNSYLVANIA, L.L.C.
K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF VIRGINIA, INC.
▇. ▇▇▇▇▇▇▇▇▇ HOMES OF WEST VIRGINIA, L.L.C.
K. HOVNANIAN INDIAN TRAILS, LLC
▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ RESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ LIBERTY ON BLUFF CREEK, LLC
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▇. ▇▇▇▇▇▇▇▇▇ MANALAPAN ACQUISITION, LLC
▇. ▇▇▇▇▇▇▇▇▇ MONARCH GROVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ NORTH CENTRAL ACQUISITIONS, L.L.C.
K. HOVNANIAN NORTH JERSEY ACQUISITIONS, L.L.C.
K. HOVNANIAN NORTHEAST SERVICES, L.L.C.
K. HOVNANIAN OF HOUSTON II, L.L.C.
K. HOVNANIAN OHIO REALTY, L.L.C.
K. HOVNANIAN OSTER HOMES, L.L.C.
K. HOVNANIAN PA REAL ESTATE, INC.
▇. ▇▇▇▇▇▇▇▇▇ PENNSYLVANIA ACQUISITIONS, L.L.C.
K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.
▇. ▇▇▇▇▇▇▇▇▇ PROPERTIES OF RED BANK, INC.
▇. ▇▇▇▇▇▇▇▇▇ RIVENDALE, LLC
▇. ▇▇▇▇▇▇▇▇▇ SCHADY RESERVE, LLC
▇. ▇▇▇▇▇▇▇▇▇ SHORE ACQUISITIONS, L.L.C.
K. HOVNANIAN SOUTH FORK, LLC
▇. ▇▇▇▇▇▇▇▇▇ SOUTH JERSEY ACQUISITIONS, L.L.C.
K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.
K. HOVNANIAN STERLING RANCH, LLC
▇. ▇▇▇▇▇▇▇▇▇ SUMMIT HOLDINGS, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF PENNSYLVANIA, L.L.C.
K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C.
K. HOVNANIAN SUMMIT HOMES, L.L.C.
K. HOVNANIAN T&C HOMES AT FLORIDA, L.L.C.
K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C.
K. HOVNANIAN TIMBRES AT ELM CREEK, LLC
▇. ▇▇▇▇▇▇▇▇▇ VENTURE I, L.L.C.
K. HOVNANIAN WATERBURY, LLC
▇. ▇▇▇▇▇▇▇▇▇ WHITE ROAD, LLC
▇. ▇▇▇▇▇▇▇▇▇ WINDWARD HOMES, LLC
▇. ▇▇▇▇▇▇▇▇▇ WOODLAND POINTE, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT BAKERSFIELD, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT KENT ISLAND CONDOMINIUMS, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT KENT ISLAND, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT LOS BANOS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT ▇▇▇▇▇▇ VALLEY, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT PALM SPRINGS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT RENAISSANCE, L.L.C.
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▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT RUSH CREEK II, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ FOUR SEASONS AT RUSH CREEK, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT SILVER MAPLE FARM, L.L.C.
K. HOVNANIAN’S FOUR SEASONS AT ST. MARGARETS LANDING, L.L.C.
K. HOVNANIAN’S FOUR SEASONS, LLC
▇. ▇▇▇▇▇▇▇▇▇’▇ PARKSIDE AT TOWNGATE, L.L.C.
KHIP, L.L.C.
LANDARAMA, INC.
M&M AT CHESTERFIELD, LLC
M&M AT CRESCENT COURT, L.L.C.
M&M AT WEST ORANGE, L.L.C.
M&M AT WHEATENA URBAN RENEWAL, L.L.C.
MATZEL & MUMFORD AT EGG HARBOR, L.L.C.
MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C.
MCNJ, INC.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF PENNSYLVANIA, L.L.C.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST VIRGINIA, L.L.C.
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.
MMIP, L.L.C.
NEW LAND TITLE AGENCY, L.L.C.
PADDOCKS, L.L.C.
PARK TITLE COMPANY, LLC
PINE AYR, LLC
RIDGEMORE UTILITY, L.L.C.
SEABROOK ACCUMULATION CORPORATION
STONEBROOK HOMES, INC.
TERRAPIN REALTY, L.L.C.
THE MATZEL & MUMFORD ORGANIZATION, INC
WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C.
WASHINGTON HOMES, INC.
WESTMINSTER HOMES, INC.
WH PROPERTIES, INC
WOODLAND LAKE CONDOMINIUMS AT BOWIE NEW TOWN, L.L.C.
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| By: | ||
| Name: Title: Authorized Officer | ||
This Guarantee relates to ▇. ▇▇▇▇▇▇▇▇▇ Enterprises, Inc. 6.25% Senior Notes due 2016– CUSIP No.: ▇▇▇▇▇▇▇▇▇
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