0001193125-13-367961.txt : 20130916 0001193125-13-367961.hdr.sgml : 20130916 20130916163925 ACCESSION NUMBER: 0001193125-13-367961 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20130916 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Material Modifications to Rights of Security Holders ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130916 DATE AS OF CHANGE: 20130916 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOVNANIAN ENTERPRISES INC CENTRAL INDEX KEY: 0000357294 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 221851059 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08551 FILM NUMBER: 131099241 BUSINESS ADDRESS: STREET 1: 110 WEST FRONT STREET STREET 2: PO BOX 500 CITY: RED BANK STATE: NJ ZIP: 07701 BUSINESS PHONE: 7327477800 MAIL ADDRESS: STREET 1: 110 WEST FRONT STREET PO BOX 500 STREET 2: 110 WEST FRONT STREET PO BOX 500 CITY: RED BANK STATE: NJ ZIP: 07701 8-K 1 d597821d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): September 16, 2013

 

 

HOVNANIAN ENTERPRISES, INC.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Table   1-8551   22-1851059
(State or Other Jurisdiction
of Incorporation)		  

(Commission

File Number)

   (I.R.S. Employer
Identification No.)

110 West Front Street

P.O. Box 500

Red Bank, New Jersey 07701

(Address of Principal Executive Offices) (Zip Code)

(732) 747-7800

(Registrant’s telephone number, including area code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 1.01. Entry Into a Material Definitive Agreement.

On September 16, 2013, K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), a wholly owned subsidiary of Hovnanian Enterprises, Inc. (“Hovnanian”), completed a registered underwritten public offering of $41,581,000 aggregate principal amount of 6.25% Senior Notes due 2016 (the “Notes”), pursuant to an underwriting agreement (the “Underwriting Agreement”) dated September 11, 2013, among K. Hovnanian, Hovnanian, as guarantor, the subsidiary guarantors named therein, and Credit Suisse Securities (USA) LLC. In connection with the consummation of the offering of the Notes, K. Hovnanian, Hovnanian, the subsidiary guarantors party thereto and Deutsche Bank National Trust Company, as successor trustee (the “Trustee”), entered into an Eleventh Supplemental Indenture dated September 16, 2013 (the “Supplemental Indenture”), to the Indenture dated as of August 8, 2005 (the “Base Indenture” and together with the Supplemental Indenture, the “Indenture”), among K. Hovnanian, Hovnanian, the subsidiary guarantors party thereto and the Trustee. The Notes were issued as additional 6.25% Senior Notes due 2016 under the Indenture.

Hovnanian and most of its existing and future restricted subsidiaries are guarantors of the Notes. Hovnanian’s home mortgage subsidiaries, certain of its title insurance subsidiaries, joint ventures, subsidiaries holding interests in its joint ventures and its foreign subsidiary are not guarantors or restricted subsidiaries.

The Notes bear interest at 6.25% per annum and mature on January 15, 2016. Interest is payable semi-annually on January 15 and July 15 of each year, beginning on January 15, 2014, to holders of record at the close of business on January 1 or July 1, as the case may be, immediately preceding each such interest payment date.

The Indenture contains restrictive covenants that limit among other things, the ability of Hovnanian and certain of its subsidiaries, including K. Hovnanian, to incur additional indebtedness, pay dividends and make distributions on common and preferred stock, repurchase common and preferred stock, make other restricted payments, make investments, sell certain assets, incur liens, consolidate, merge, sell or otherwise dispose of all or substantially all of its assets and enter into certain transactions with affiliates. The Indenture also contains customary events of default which would permit the holders of the Notes to declare those Notes to be immediately due and payable if not cured within applicable grace periods, including the failure to make timely payments on the Notes or other material indebtedness, the failure to satisfy covenants and specified events of bankruptcy and insolvency.

The sale of the Notes was made pursuant to Hovnanian’s, K. Hovnanian’s and the subsidiary guarantors’ Registration Statement on Form S-3 (File No. 333-189802) (the “Registration Statement”) and the prospectus supplement, dated September 11, 2013, to the prospectus contained therein dated August 23, 2013.

Hovnanian intends to use the net proceeds from the offering of the Notes to fund the redemption (the “Redemption”) of all of K. Hovnanian’s outstanding 6.5% Senior Notes due 2014 (the “6.5% Senior Notes”) and 6.375% Senior Notes due 2014 (the “6.375% Senior Notes” and, together with the 6.5% Senior Notes, the “2014 Notes”) and to pay related fees and expenses. As of July 31, 2013, there were approximately $36.7 million aggregate principal amount of 6.5% Senior Notes outstanding and approximately $3.0 million aggregate principal amount of 6.375% Senior Notes outstanding. On September 16, 2013, concurrently with the closing of the offering, K. Hovnanian issued notices of redemption to holders of the 2014 Notes specifying a redemption date for the 2014 Notes of October 15, 2013.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.

Item 3.03 Material Modification to Rights of Security Holders.

The information set forth under Item 8.01 below, as to the covenant defeasance of the indentures governing the 2014 Notes, is incorporated by reference into this Item 3.03.

Item 8.01 Other Events.

In connection with the Redemption, on September 16, 2013, Hovnanian effected a covenant defeasance of the indentures governing the 2014 Notes.

In connection with the offering of the Notes, as described in response to Item 1.01 of this Current Report on Form 8-K, the following exhibits are filed with this Current Report on Form 8-K and are incorporated by reference herein and into the Registration Statement: (i) the Underwriting Agreement, (ii) the Supplemental Indenture, (iii) the legal opinion of Simpson Thacher & Bartlett LLP, and related consent, (iv) the legal opinion of Michael Discafani, Vice President and Corporate Counsel of Hovnanian, and related consent and (v) information relating to Part II, Item 14 “Other Expenses of Issuance and Distribution” of the Registration Statement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit 1.2    Underwriting Agreement dated September 11, 2013, among Hovnanian, K. Hovnanian, the subsidiary guarantors named therein and Credit Suisse Securities (USA) LLC.
Exhibit 4.26    Eleventh Supplemental Indenture dated as of September 16, 2013, among K. Hovnanian, Hovnanian and the other guarantors named therein and Deutsche Bank National Trust Company, as trustee.
Exhibit 5.3    Opinion of Simpson Thacher & Bartlett LLP.
Exhibit 5.4    Opinion of Michael Discafani, Vice President and Corporate Counsel of Hovnanian.
Exhibit 23.4    Consent of Simpson Thacher & Bartlett LLP (included in Exhibit 5.3).
Exhibit 23.5    Consent of Michael Discafani, Vice President and Corporate Counsel of Hovnanian (included in Exhibit 5.4).
Exhibit 99.1    Information relating to Part II, Item 14 “Other Expenses of Issuance and Distribution” of the Registration Statement (File No. 333-189802).

 

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SIGNATURES

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

 

HOVNANIAN ENTERPRISES, INC.
(Registrant)
By:   /s/ J. Larry Sorsby
 

 

  Name: J. Larry Sorsby
  Title: Executive Vice President and Chief Financial Officer

Date: September 16, 2013

INDEX TO EXHIBITS

 

Exhibit 1.2    Underwriting Agreement dated September 11, 2013, among Hovnanian, K. Hovnanian, the subsidiary guarantors named therein and Credit Suisse Securities (USA) LLC.
Exhibit 4.26    Eleventh Supplemental Indenture dated as of September 16, 2013, among K. Hovnanian, Hovnanian and the other guarantors named therein and Deutsche Bank National Trust Company, as trustee.
Exhibit 5.3    Opinion of Simpson Thacher & Bartlett LLP.
Exhibit 5.4    Opinion of Michael Discafani, Vice President and Corporate Counsel of Hovnanian.
Exhibit 23.4    Consent of Simpson Thacher & Bartlett LLP (included in Exhibit 5.3).
Exhibit 23.5    Consent of Michael Discafani, Vice President and Corporate Counsel of Hovnanian (included in Exhibit 5.4).
Exhibit 99.1    Information relating to Part II, Item 14 “Other Expenses of Issuance and Distribution” of the Registration Statement (File No. 333-189802).
 EX-1.2 2 d597821dex12.htm EX-1.2 EX-1.2

Exhibit 1.2

EXECUTION VERSION

K. HOVNANIAN ENTERPRISES, INC.,

as Issuer

HOVNANIAN ENTERPRISES, INC.

and Certain of its Subsidiaries,

as Guarantors

6.25% Senior Notes due 2016

UNDERWRITING AGREEMENT

September 11, 2013

CREDIT SUISSE SECURITIES (USA) LLC

Eleven Madison Avenue

New York, New York 10010-3629

Ladies and Gentlemen:

1. Introductory. K. Hovnanian Enterprises, Inc., a California corporation (the “Company”), proposes to issue and sell $41,581,000 principal amount of its 6.25% Senior Notes due 2016 (the “Securities”) to be unconditionally guaranteed as to the payment of principal and interest (collectively, the “Guarantees”) by Hovnanian Enterprises, Inc., a Delaware corporation (“Hovnanian”) and the subsidiary guarantors listed on Schedule A hereto (together, with Hovnanian, the “Guarantors”) and issued under an indenture, dated as of August 8, 2005 (the “Base Indenture”), among the Company, Hovnanian, the other guarantors named therein and Deutsche Bank National Trust Company (as successor trustee), as Trustee (the “Trustee”), as supplemented by that certain supplemental indenture, among the Company, Hovnanian, the other Guarantors and the Trustee, dated as of the Closing Date (the “Supplemental Indenture” and, together with the Base Indenture, as further amended or supplemented as of the Closing Date, the “Indenture”).

The Company previously issued $300,000,000 in aggregate principal amount of its 6.25% Senior Notes due 2016 under the Base Indenture (the “Existing Securities”). The Securities constitute an additional issuance of notes under the Indenture. The Securities will have identical terms to the Existing Securities, except that interest will accrue on the Securities from their date of issuance, and will be treated as a single class of notes for all purposes under the Indenture.

The Company hereby agrees with the several Underwriters named in Schedule B hereto (the “Underwriters”), for whom you are acting as Representatives (the “Representatives,” which term, to the extent there are no additional Underwriters listed on Schedule B hereto other than you, shall be deemed to mean you, as Underwriter, and the term Underwriters shall mean either the singular or plural as the context requires), as follows:

2. Representations and Warranties of the Company and Hovnanian. The Company and Hovnanian, jointly and severally, represent and warrant to, and agree with, the several Underwriters that:

(a) A registration statement on Form S-3 (File No. 333-189802) relating to the Securities, including a base prospectus dated August 23, 2013 (the “Base Prospectus”), has been filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Act”)

and has been declared effective under the Act. For purposes of this agreement (the “Agreement”), “Effective Date” means the “effective date of the registration statement” (within the meaning of Rule 158(c) under the Act) of the Registration Statement or the most recent post-effective amendment thereto (if any) filed prior to the execution and delivery of this Agreement. Such registration statement, as amended at the Effective Date, including the information, if any, deemed pursuant to 430B under the Act to be part of the registration statement at the time of its effectiveness (“Rule 430 Information”), is hereinafter referred to as the “Registration Statement.” The term “Preliminary Prospectus” means each preliminary prospectus supplement to the Base Prospectus which is used prior to filing of the Prospectus (as defined below), together with the Base Prospectus, and the term “Prospectus” means the prospectus supplement in the form first used (or made available upon request of purchasers pursuant to Rule 173 under the Act) in connection with confirmation of sales of the Securities, together with the Base Prospectus. Any reference in this Agreement to the Registration Statement, the Base Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Act, as of the effective date of the Registration Statement or the date of such Base Prospectus, Preliminary Prospectus or the Prospectus, as the case may be and any reference to “amend,” “amendment” or “supplement” with respect to the Registration Statement, Base Prospectus, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any documents filed after such date under the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder (collectively, the “1934 Act”) that are deemed to be incorporated by reference therein. As of the Effective Date, the Company was eligible to use Form S-3 under the Act. No stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose or pursuant to Section 8A of the Act against the Company or related to the offering shall have been instituted or, to the knowledge of the Company or Hovnanian, shall be contemplated by the Commission.

(b) At or prior to 11:55 A.M. on September 11, 2013 (the “Time of Sale”), the Company had prepared the following information (collectively, the “Time of Sale Information”): a Preliminary Prospectus dated September 11, 2013, and each “free-writing prospectus” (as defined pursuant to Rule 405 under the Act) listed on Annex A hereto.

(c) The Time of Sale Information, at the Time of Sale did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in such Time of Sale Information.

(d) Other than the Preliminary Prospectus and the Prospectus, the Company (including its agents and representatives, other than the Underwriters in their capacity as such) has not made, used, prepared, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Act) that constitutes an offer to sell or solicitation of an offer to buy the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to in clause (i) below) an “Issuer Free Writing Prospectus”) other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Act or Rule 134 under the Act or (ii) the documents listed on Annex A hereto, each electronic road show and other written communications approved in writing in advance by the Representatives. Each such Issuer Free Writing Prospectus complied in all material respects with the Act, has been filed in accordance with the Act (to the extent required thereby) and, when taken together with the Time of Sale Information accompanying, or delivered prior to delivery of, such Issuer Free Writing Prospectus, did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation and warranty with respect to any statements or omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in any Issuer Free Writing Prospectus.

 

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(e) (i) On the Effective Date, the Registration Statement conformed in all material respects to the requirements of the Act, the Trust Indenture Act of 1939 (the “Trust Indenture Act”) and the rules and regulations of the Commission under the Act (“Rules and Regulations”) and did not include any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and (ii) on the date of this Agreement, the Registration Statement conforms, and at the time of filing of the Prospectus pursuant to Rule 424(b) under the Act, the Registration Statement and the Prospectus will conform, in all material respects to the requirements of the Act, the Trust Indenture Act and the Rules and Regulations, and neither of such documents includes, or will include, any untrue statement of a material fact or omits, or will omit, to state any material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading except that the foregoing does not apply to statements in or omissions from the Registration Statement or the Prospectus based upon written information furnished to the Company by any Underwriter through the Representatives, if any, specifically for use therein, it being understood and agreed that the only such information is that described as such in Section 8(b) hereof.

(f) The documents incorporated by reference in the Time of Sale Information and the Prospectus, at the time they were or hereafter are filed with the Commission and except as otherwise subsequently disclosed therein, complied and will comply in all material respects with the requirements of the 1934 Act and, when read together and with the other information in the Time of Sale Information and the Prospectus, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were or are made, not misleading.

(g) Each of the Company, Hovnanian and its subsidiaries has been duly incorporated or formed, as the case may be, is validly existing as a corporation, limited liability company or limited partnership, as the case may be, in good standing under the laws of its jurisdiction of incorporation or organization and has the corporate power, or its equivalent in the case of a limited partnership or limited liability company, and authority to carry on its business as described in the Time of Sale Information and the Prospectus and to own, lease and operate its properties, and each is duly qualified and is in good standing as a foreign corporation, limited liability company or limited partnership, as the case may be, authorized to do business in each jurisdiction in which the nature of its business or its ownership or leasing of property requires such qualification, except where the failure to be so qualified would not have a material adverse effect on the business, prospects, financial condition or results of operations of Hovnanian and its subsidiaries, taken as a whole (a “Material Adverse Effect”).

(h) All outstanding shares of capital stock of the Company and Hovnanian have been duly authorized and validly issued and are fully paid, non-assessable and not subject to any preemptive or similar rights except, for the avoidance of doubt, with respect to the Rights Plan of Hovnanian, as described in the Time of Sale Information.

(i) All of the outstanding shares of capital stock of each of Hovnanian’s direct and indirect subsidiaries have been duly authorized and validly issued and are fully paid and non-assessable, and such shares that are owned by Hovnanian are owned by Hovnanian, directly or indirectly through one or more subsidiaries, free and clear of any security interest, claim, lien, encumbrance or adverse interest of any nature (each, a “Lien”) other than Liens securing obligations under (A) the Company’s 7.250% Senior Secured First Lien Notes due 2020 issued pursuant to the indenture, dated as of October 2, 2013, by and among the Company, Hovnanian, the other guarantors named therein and Wilmington Trust, National Association, as trustee, and 9.125% Senior Secured Second Lien Notes due 2020 issued pursuant to the indenture, dated as of October 2, 2013, by and among the Company, Hovnanian, the other guarantors named therein and Wilmington Trust, National Association, as trustee, (B) the Company’s 2.00% Senior Secured Notes due 2021 and

 

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5.00% Senior Secured Notes due 2021 issued pursuant to the indenture, dated as of November 1, 2011, by and among the Company, Hovnanian, the other guarantors named therein and Wilmington Trust, National Association, as trustee and (C) “Permitted Liens” as defined in the Base Indenture and such aforementioned indentures.

(j) This Agreement has been duly authorized, executed and delivered by the Company, Hovnanian and each other Guarantor.

(k) The Base Indenture has been duly authorized, executed and delivered by the Company and each of the Guarantors and as of the Closing Date the Supplemental Indenture will have been validly executed and delivered by the Company and each of the Guarantors that is a party thereto. When the Supplemental Indenture has been duly executed and delivered by the Company and each of the Guarantors that is a party thereto, and, assuming that the Indenture is a valid and binding obligation of the Trustee, the Indenture will be, a valid and binding agreement of the Company and each Guarantor that is a party thereto, enforceable against the Company and each Guarantor in accordance with its terms except as the enforceability thereof may be limited by the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

(l) The Indenture has been duly qualified under the Trust Indenture Act with respect to the Securities; the Securities have been duly authorized and, on the Closing Date, will have been validly executed and delivered by the Company. When the Securities have been issued, executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters in accordance with the terms of this Agreement, will be entitled to the benefits of the Indenture, and will be valid and binding obligations of the Company, enforceable in accordance with their terms except as the enforceability thereof may be limited by the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. On the Closing Date, the Securities will conform as to legal matters to the descriptions thereof contained in the Time of Sale Information and Prospectus.

(m) The Guarantee to be endorsed on the Securities by each Guarantor has been duly authorized by such Guarantor and, on the Closing Date, will have been duly executed and delivered by each such Guarantor. When the Securities have been issued, executed and authenticated in accordance with the Indenture and delivered to and paid for by the Underwriters in accordance with the terms of this Agreement, the Guarantee of each Guarantor endorsed thereon will be entitled to the benefits of the Indenture and will be the valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms, except as the enforceability thereof may be limited by the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. On the Closing Date, the Guarantees to be endorsed on the Securities will conform as to legal matters to the description thereof contained in the Time of Sale Information and Prospectus.

(n) None of the Company, Hovnanian or any of their direct or indirect subsidiaries is in violation of its respective charter or by-laws or applicable organizational documents, as the case may be, or in default in the performance of any obligation, agreement, covenant or condition contained in any indenture, loan agreement, mortgage, lease or other agreement or instrument that is material to the Company, or Hovnanian and its subsidiaries, taken as a whole, to which the Company, Hovnanian or any of its subsidiaries is a party or by which the Company, Hovnanian or any of its subsidiaries or their respective property is bound.

 

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(o) The execution, delivery and performance of this Agreement, the Securities, the Guarantees and the Supplemental Indenture (collectively, the “Additional Securities Transaction Documents”) by the Company and each of the Guarantors, as applicable, compliance by the Company and each of the Guarantors with all provisions hereof and thereof and the consummation of the transactions contemplated hereby and thereby will not, and the performance of the Base Indenture (together with the Additional Securities Transaction Documents, the “Transaction Documents”) by the Company and each of the Guarantors, as applicable, and compliance by the Company and each of the Guarantors with all provisions thereof and the consummation of the transactions contemplated by the Additional Securities Transaction Documents does not (i) require any consent, approval, authorization or other order of, or qualification with, any court or governmental body or agency (except such consents as have been obtained under the Act and the Trust Indenture Act and except as may be required under securities or Blue Sky laws of the various states), (ii) conflict with or constitute a breach of any of the terms or provisions of, or a default under, the charter, by-laws or applicable organizational documents of the Company or any Guarantor or any indenture, loan agreement, mortgage, lease or other agreement or instrument that is material to the Company or Hovnanian and its subsidiaries, taken as a whole, to which the Company or the Guarantors is a party or by which the Company or the Guarantors or their respective property is bound, (iii) violate or conflict with any applicable law or any rule, regulation, judgment, order or decree of any court or any governmental body or agency having jurisdiction over the Company, Hovnanian or any of its subsidiaries or their respective property, (iv) result in the imposition or creation of (or the obligation to create or impose) a Lien under, any agreement or instrument to which the Company, Hovnanian or any of its subsidiaries is a party or by which the Company, Hovnanian or any of its subsidiaries or their respective property is bound, or (v) result in the termination, suspension or revocation of any Authorization (as defined below) of the Company, Hovnanian or any of its subsidiaries or result in any other impairment of the rights of the holder of any such Authorization.

(p) Except as disclosed in the Time of Sale Information and the Prospectus, there are no legal or governmental proceedings pending or threatened to which the Company, Hovnanian or any of its subsidiaries is or could be a party or to which any of their respective property is or could be subject, which might result, singly or in the aggregate, in a Material Adverse Effect.

(q) The Company, Hovnanian and each of its subsidiaries maintain insurance covering their properties, assets, operations, personnel and businesses, and, in the good faith estimate of management, such insurance is of such type and in such amounts as is in accordance with customary industry practice in the locations where Hovnanian, the Company and each subsidiary conduct operations, taking into account the costs and availability of such insurance.

(r) Hovnanian and its officers and directors, in their capacities as such, are in compliance with the provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated thereunder.

(s) Hovnanian maintains a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the 1934 Act) that complies with the requirements of the 1934 Act and has been designed by Hovnanian’s principal executive officer and principal financial officer, or under their supervision, to provide reasonable assurance regarding the reliability of the financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; and Hovnanian’s internal control over financial reporting is effective in all material respects to perform the functions for which it was established and Hovnanian is not aware of any material weaknesses in its internal control over financial reporting.

(t) Hovnanian maintains “disclosure controls and procedures” (as such term is defined in Rule 13a-15(e) under the 1934 Act); such disclosure controls and procedures are effective in all material respects to perform the functions for which they were established.

(u) Except as disclosed in the Time of Sale Information and the Prospectus, neither the Company, Hovnanian nor any of its subsidiaries has (i) violated any foreign, federal, state or local law or regulation relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”) and, to the knowledge of the Company and

 

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Hovnanian, there are no pending or threatened liabilities relating to Environmental Laws, (ii) violated any provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or (iii) violated any provisions of the Foreign Corrupt Practices Act or the rules and regulations promulgated thereunder, except with respect to (i) and (ii), for such violations or liabilities, as the case may be, which, singly or in the aggregate, would not have a Material Adverse Effect.

(v) Except as disclosed in the Time of Sale Information and the Prospectus, each of the Company, Hovnanian and its subsidiaries has such permits, licenses, consents, exemptions, franchises, authorizations and other approvals (each, an “Authorization”) of, and has made all filings with and notices to, all governmental or regulatory authorities and self-regulatory organizations and all courts and other tribunals, including without limitation, under any applicable Environmental Laws, as are necessary to own, lease, license and operate its respective properties and to conduct its business, except where the failure to have any such Authorization or to make any such filing or notice would not, singly or in the aggregate, have a Material Adverse Effect. Each such Authorization is valid and in full force and effect and each of the Company, Hovnanian and its subsidiaries is in compliance with all the terms and conditions thereof and with the rules and regulations of the authorities and governing bodies having jurisdiction with respect thereto; and no event has occurred (including, without limitation, the receipt of any notice from any authority or governing body) which allows or, after notice or lapse of time or both, would allow, revocation, suspension or termination of any such Authorization or results or, after notice or lapse of time or both, would result in any other impairment of the rights of the holder of any such Authorization; except where such failure to be valid and in full force and effect or to be in compliance, the occurrence of any such event or the presence of any such restriction would not, singly or in the aggregate, have a Material Adverse Effect.

(w) Deloitte & Touche LLP, which has certified financial statements incorporated by reference in the Time of Sale Information and the Prospectus, is an independent registered public accounting firm with respect to the Company and the Guarantors, as required by the Act and the 1934 Act and the rules and regulations of the Public Company Accounting Oversight Board.

(x) The historical financial statements, together with related notes, incorporated by reference from Hovnanian’s Annual Report on 10-K in the Prospectus, Time of Sale Information and the Registration Statement (and any amendment or supplement thereto) present fairly the consolidated financial position, results of operations and changes in financial position of Hovnanian and its subsidiaries on the basis stated in the documents incorporated by reference in the Prospectus, Time of Sale Information and the Registration Statement at the respective dates or for the respective periods to which they apply; such financial statements and related notes have been prepared in accordance with generally accepted accounting principles consistently applied throughout the periods involved, except as disclosed therein; and the other financial and statistical information and data set forth or incorporated by reference in the Prospectus, Time of Sale Information and Registration Statement (and any amendment or supplement thereto) are, in all material respects, accurately presented and prepared on a basis consistent with such financial statements and the books and records of Hovnanian; and such financial statements, together with the related notes, from the documents incorporated by reference in the Prospectus, Time of Sale Information and Registration Statement (and any amendment or supplement thereto) meet the requirements of the Rules and Regulations and the 1934 Act.

(y) Each of the Company and the Guarantors is not and, after giving effect to the offering and sale of the Securities and the application of the net proceeds thereof as described in the Time of Sale Information and the Prospectus, will not be, an “investment company,” as such term is defined in the Investment Company Act of 1940, as amended.

(z) Neither the Company nor any Guarantor nor any of their respective subsidiaries nor any agent thereof acting on their behalf has taken, and none of them will take, any action that might cause this Agreement or the issuance or sale of the Securities to violate Regulation T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System.

 

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(aa) No “nationally recognized statistical rating organization” (as such term is defined in Section 3(a)(62) of the 1934 Act) (i) has indicated to the Company or Hovnanian that it is considering (A) the downgrading, suspension, or withdrawal of, or any review for a possible change that does not indicate the direction of the possible change in, any rating so assigned or (B) any change in the outlook (other than a positive change) for any rating of the Company, any Guarantor or any securities of the Company or Hovnanian and (ii) rates the debt of any subsidiary of Hovnanian (other than the Company).

(bb) Since the respective dates as of which information is given in the Prospectus and Time of Sale Information except as disclosed in the Prospectus and Time of Sale Information (exclusive of any amendments or supplements thereto subsequent to the date of this Agreement), (i) there has not occurred any material adverse change or any development involving a prospective material adverse change in the condition, financial or otherwise, or the earnings, business, management or operations of the Company, or Hovnanian and its subsidiaries, taken as a whole, (ii) there has not been any material adverse change or any development involving a prospective material adverse change in the capital stock or in the long-term debt of Hovnanian or any of its subsidiaries and (iii) neither Hovnanian nor any of its subsidiaries has incurred any material liability or obligation, direct or contingent.

(cc) The Company is not an ineligible issuer as defined under the Act, at the times specified in the Act in connection with the offering of the Securities. The Company has paid the registration fee for this offering as required under the Act.

(dd) Hovnanian is subject to Section 13 or 15(d) of the 1934 Act.

(ee) (i)Neither the Company or Hovnanian and its subsidiaries, nor any director or officer thereof, nor, to the Company’s or Hovnanian’s knowledge, any employee, agent, affiliate or representative of the Company or Hovnanian and its subsidiaries, is an individual or entity (“Person”) that is, or is owned or controlled by a Person that is: (A) the target of any sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) (“Sanctions”), nor (B) located, organized or resident in Cuba, Iran, North Korea, Sudan and Syria (each, a “Sanctioned Country”).

(ii) The Company will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person for the purpose of funding or facilitating any activities or business of or with any Person in any Sanctioned Country.

3. Purchase, Sale and Delivery of the Securities. On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions herein set forth, the Company agrees to sell to the Underwriters, the Guarantors agree to guarantee the Securities and the Underwriters agree, severally and not jointly, to purchase from the Company, at a purchase price of 98.25% of the principal amount thereof, the respective principal amounts of Securities set forth opposite the names of the Underwriters in Schedule B hereto.

The Company will cause to be delivered against payment of the purchase price by the Underwriters the Securities in the form of one or more permanent Global Securities in definitive form (“Global Securities”) deposited with the Trustee as custodian for The Depository Trust Company (“DTC”) and registered in the name of Cede & Co., as nominee for DTC. Interests in any permanent Global Securities will be held only in book-entry form through DTC, except in the limited circumstances described in the Prospectus. Payment for the Securities shall be made by the Underwriters in Federal (same day) funds by wire transfer to an account at a bank acceptable to the Representatives drawn to the order of K. Hovnanian Enterprises, Inc. or as the Company specifies at the office of Davis Polk & Wardwell LLP at 10:00 A.M., (New York time), on September 16, 2013, or at such other time not later than three full business days thereafter as the Representatives and the Company determine, such time being herein referred to as the “Closing Date,” against delivery to the Trustee as custodian for DTC of the Global Securities representing all of the Securities. The Global Securities will be made available for checking at the above office of Davis Polk & Wardwell LLP at least 24 hours prior to the Closing Date.

 

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4. Offering by Underwriters. (a) It is understood that the several Underwriters propose to offer the Securities for sale to the public as set forth in the Prospectus.

(b) Each Underwriter, severally and not jointly, represents and warrants to the Company and the Guarantors that, in relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (each, a “Relevant Member State”), with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the “Relevant Implementation Date”) it has not made and will not make an offer of Securities to the public in that Relevant Member State prior to the publication of a prospectus in relation to the Securities which has been approved by the competent authority in that Relevant Member State or, where appropriate, approved in another Relevant Member State and notified to the competent authority in that Relevant Member State, all in accordance with the Prospectus Directive, except that it may, with effect from and including the Relevant Implementation Date, make an offer of Securities to the public in that Relevant Member State at any time: (A) to any legal entity which is a qualified investor as defined in the Prospectus Directive; (B) to fewer than 100 or, if the Relevant Member State has implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior consent of the Representatives for any such offer; or (C) in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided that no such offer of Securities shall require the Company or any Underwriter to publish a prospectus pursuant to Article 3 of the Prospectus Directive. For the purposes of this provision, the expression an “offer of Securities to the public” in relation to any Securities in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the Securities to be offered so as to enable an investor to decide to purchase or subscribe for the Securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU.

(c) Each Underwriter, severally and not jointly, represents and warrants to the Company and the Guarantors that: (i) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an invitation or inducement to engage in investment activity (within the meaning of Section 21 of the FSMA) received by it in connection with the issue or sale of the Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company or the Guarantors; and (ii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom. For purposes of this provision, “FSMA” means the Financial Services and Markets Act 2000.

5. Certain Agreements of the Company and Hovnanian. The Company and Hovnanian agree with the several Underwriters that:

(a) Hovnanian will file the Prospectus with the Commission pursuant to and in accordance with subparagraph (2) of Rule 424(b) under the Act not later than the second business day following the execution and delivery of this Agreement) (or, if applicable, subparagraph (5)) and will file any Issuer Free Writing Prospectus pursuant to and in accordance with Rule 433 under the Act within the required time period. The Company or Hovnanian will advise the Representatives promptly of any such filing pursuant to Rule 424(b) or 433 under the Act.

(b) The Company or Hovnanian will advise the Representatives promptly of any proposal to amend or supplement the Registration Statement, Time of Sale Information or the Prospectus and will not effect such amendment or supplement without the Representatives’ consent (such consent not to be unreasonably withheld); and the Company or Hovnanian will also advise the Representatives promptly of the effectiveness of any amendment or supplement of the Registration Statement, Time of Sale Information or

 

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the Prospectus and of the institution by the Commission of any stop order proceedings in respect of the Registration Statement, as it may be amended or supplemented, proceeding under Section 8A of the Act, and will use its reasonable best efforts to prevent the issuance of any such stop order or objection and to obtain as soon as possible its lifting or withdrawal, if issued.

(c) Before preparing, using, authorizing, approving, referring to or filing any Issuer Free Writing Prospectus, and before filing any amendment or supplement to the Registration Statement or the Prospectus, whether before or after the time that the Registration Statement becomes effective, the Company will furnish to the Representatives and counsel for the Underwriters a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement for review and will not prepare, use, authorize, approve, refer to or file any such Issuer Free Writing Prospectus or file any such proposed amendment or supplement to which the Representatives reasonably object.

(d) If, at any time when a prospectus relating to the Securities is required to be (or but for the exemption in Rule 172 under the Act would be required to be) delivered under the Act in connection with sales by any Underwriter or dealer, any event occurs as a result of which the Time of Sale Information, Prospectus or any Free Writing Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or if it is necessary at any time to amend the Time of Sale Information, Prospectus or any Free Writing Prospectus to comply with the Act, the Company or Hovnanian will promptly notify the Representatives of such event and will promptly prepare and file with the Commission, at the Company’s or Hovnanian’s own expense, an amendment or supplement that will correct such statement or omission or an amendment that will effect such compliance. Neither the Representatives’ consent to, nor the Underwriters’ delivery of, any such amendment or supplement shall constitute a waiver of any of the conditions set forth in Section 7 hereof.

(e) As soon as practicable, but not later than the Availability Date (as defined below), the Company will make generally available to its securityholders an earnings statement (which need not be audited) covering a period of at least 12 months beginning after the Effective Date that will satisfy the provisions of Section 11(a) of the Act. For the purpose of the preceding sentence, “Availability Date” means the 40th day after the end of the fourth fiscal quarter following the fiscal quarter that includes such Effective Date, except that, if such fourth fiscal quarter is the last quarter of the Hovnanian’s fiscal year, “Availability Date” means the 75th day after the end of such fourth fiscal quarter.

(f) The Company or Hovnanian will furnish to the Representatives copies of the Registration Statement (one of which will be signed and will include all exhibits), if requested by the Representatives, each related Preliminary Prospectus, and, so long as a prospectus relating to the Securities is required to be delivered under the Act in connection with sales by any Underwriter or dealer, the Prospectus and all amendments and supplements to such documents and each Free Writing Prospectus, in each case in such quantities as the Representatives reasonably request. The Prospectus shall be so furnished as soon as practicable but in no event later than the second business day following the execution and delivery of this Agreement. All other documents shall be so furnished as soon as available. The Company will pay the expenses of printing and distributing to the Underwriters all such documents.

(g) The Company will cooperate with the Underwriters and counsel to the Underwriters in connection with the qualification of the Securities for sale and the determination of their eligibility for investment under the laws of such jurisdictions as the Representatives designate and will continue such qualifications in effect so long as required for the distribution; provided, however, that neither the Company nor any Guarantor shall be required in connection therewith to qualify as a foreign corporation in any jurisdiction in which it is not now so qualified or to take any action that would subject it to general consent to service of process or taxation other than as to matters and transactions relating to the Registration Statement and the Prospectus, in any jurisdiction in which it is not now so subject.

 

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(h) So long as any Securities remain outstanding, the Company or Hovnanian will furnish to the Representatives and, upon request, to each of the other Underwriters, if any, as soon as practicable after the end of each fiscal year, a copy of the annual report to stockholders for such year; and so long as any Securities remain outstanding, the Company or Hovnanian will furnish to the Representatives (i) during any period in which the Company and the Guarantors are not subject to Section 13 or 15(d) of the 1934 Act, as soon as practicable, a copy of each report and any definitive proxy statement of Hovnanian filed with the Commission under the 1934 Act or mailed to stockholders, and (ii) from time to time, such other information concerning the Company or Hovnanian as the Representatives may reasonably request.

(i) The Company or Hovnanian will pay or cause to be paid all expenses incident to the performance of the obligations of the Company and the Guarantors under this Agreement and the Transaction Documents, including any filing fees and other expenses (including fees and disbursements of counsel to the Company and the Guarantors) incurred in connection with qualification of the Securities for sale under the securities or blue sky laws of the various states, any fees charged by investment rating agencies for the rating of the Securities, any travel expenses of the Company’s or any Guarantor’s officers and employees and any other expenses of the Company or the Guarantors in connection with attending or hosting meetings with prospective purchasers of the Securities and expenses incurred in distributing the Prospectus, any Free Writing Prospectus and any Time of Sale Information (including any amendments and supplements thereto) to the Underwriters.

(j) During the period beginning on the date hereof and continuing to and including the date 10 days following the Closing Date, not to offer, sell, contract to sell or otherwise transfer or dispose of any debt securities of the Company or any Guarantor or any warrants, rights or options to purchase or otherwise acquire debt securities of the Company or any Guarantor substantially similar to the Securities and the Guarantees (other than (A) the Securities and the Guarantees or (B) debt or letter of credit facilities, commercial paper issued in the ordinary course of business or borrowings under any bank loan agreements), without the prior written consent of Credit Suisse Securities (USA) LLC.

(k) The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer Free Writing Prospectus that is not filed with the Commission in accordance with Rule 433 under the Act.

6. Certain Agreements of the Underwriters. Each Underwriter hereby represents and agrees that:

(a) It has not and will not use, authorize use of, refer to, or participate in the planning for use of, any “free writing prospectus,” as defined in Rule 405 under the Act (which term includes use of any written information furnished to the Commission by the Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other than (i) a free writing prospectus that contains no “issuer information” (as defined in Rule 433(h)(2) under the Act) that was not included (including through incorporation by reference) in the Preliminary Prospectus or a previously filed Issuer Free Writing Prospectus, (ii) any Issuer Free Writing Prospectus listed on Annex A or prepared pursuant to Section 2(d) or Section 5(d) above, or (iii) any free writing prospectus prepared by such underwriter and approved by the Company in advance in writing (each such free writing prospectus referred to in clauses (i) or (iii), an “Underwriter Free Writing Prospectus”).

(b) It has not and will not distribute any Underwriter Free Writing Prospectus referred to in clause (a)(i) in a manner reasonably designed to lead to its broad unrestricted dissemination.

(c) It has not and will not, without the prior written consent of the Company, use any free writing prospectus that contains the final terms of the Securities unless such terms have previously been included in a free writing prospectus filed with the Commission; provided that Underwriters may use a term sheet substantially in the form of Annex B hereto without the consent of the Company; provided further that any Underwriter using such term sheet shall notify the Company, and provide a copy of such term sheet to the Company, prior to, or substantially concurrently with, the first use of such term sheet.

 

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(d) It is not subject to any pending proceeding under Section 8A of the Act with respect to the offering (and will promptly notify the Company if any such proceeding against it is initiated during the Prospectus Delivery Period).

7. Conditions of the Obligations of the Underwriters. The obligations of the several Underwriters to purchase and pay for the Securities on the Closing Date will be subject to the accuracy when made and on the Closing Date of the representations and warranties on the part of the Company and Hovnanian herein, to the accuracy of the statements of the Company and Guarantor officers made pursuant to the provisions hereof, to the performance by the Company and each Guarantor in all material respects of its respective obligations hereunder and to the following additional conditions precedent:

(a) The Representatives shall have received, on the date hereof and on the Closing Date, a letter dated such date, in form and substance satisfactory to you, from Deloitte & Touche LLP, the current independent registered public accounting firm with respect to the Company, Hovnanian and the Guarantors, containing the information and statements of the type ordinarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained in or incorporated by reference into the Registration Statement, the Prospectus and the Time of Sale Information.

(b) The Prospectus shall have been filed with the Commission in accordance with the Rules and Regulations and Section 5(a) hereof. No stop order suspending the effectiveness of the Registration Statement shall have been issued and no proceedings for that purpose or pursuant to Section 8A under the Act shall have been instituted or, to the knowledge of the Company, Hovnanian or any Underwriter, shall be contemplated by the Commission.

(c) Subsequent to the execution and delivery of this Agreement, there shall not have occurred (i) any change, or any development or event involving a prospective change, in the condition (financial or other), business, properties or results of operations of Hovnanian and its subsidiaries taken as one enterprise which, in the reasonable judgment of the Representatives, is material and adverse and makes it impractical or inadvisable to proceed with completion of the public offering or the sale of and payment for the Securities; (ii) any downgrading in the rating of any debt securities of Hovnanian or the Company by any “nationally recognized statistical rating organization” (as defined in Section 3(a)(62) of the 1934 Act), or any public announcement that any such organization has under surveillance or review its rating of any debt securities of Hovnanian or the Company (other than an announcement with positive implications of a possible upgrading, and no implication of a possible downgrading, of such rating) or any announcement that Hovnanian or the Company has been placed on negative outlook; (iii) any change in U.S. or international financial, political or economic conditions or currency exchange rates or exchange controls as would, in the reasonable judgment of the Representatives, be likely to prejudice materially the success of the proposed issue, sale or distribution of the Securities, whether in the primary market or in respect of dealings in the secondary market; (iv) any material suspension or material limitation of trading in securities generally on the New York Stock Exchange, or any setting of minimum prices for trading on such exchange, or any suspension of trading of any securities of Hovnanian or the Company on any exchange or in the over-the-counter market; (v) any banking moratorium declared by U.S. federal or New York authorities; (vi) any major disruption of settlements of securities or clearance services in the United States if, in the reasonable judgment of the Representatives, the effect of such disruption makes it impractical or inadvisable to proceed with completion of the public offering or the sale of and payment for the Securities; or (vii) any attack on, outbreak or escalation of hostilities or act of terrorism involving, the United States, any declaration of war by Congress or any other national or international calamity or emergency if, in the reasonable judgment of the Representatives, the effect of any such attack, outbreak, escalation, act, declaration, calamity or emergency makes it impractical or inadvisable to proceed with completion of the public offering or the sale of and payment for the Securities.

 

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(d) The Representatives shall have received an opinion of Michael Discafani, Esq., Vice President and Corporate Counsel of the Company, dated the Closing Date, substantially to the effect as set forth in Exhibit A.

(e) The Representatives shall have received an opinion and a negative assurance statement, dated the Closing Date, of Simpson Thacher & Bartlett LLP, counsel for the Company and the Guarantors, substantially to the effect as set forth in Exhibits B-1 and B-2, respectively.

(f) The Representatives shall have received from Davis Polk & Wardwell LLP, counsel for the Underwriters, an opinion, dated the Closing Date, in form and substance reasonably satisfactory to the Underwriters.

(g) The Representatives shall have received a certificate, dated the Closing Date and signed by J. Larry Sorsby, in his capacity as Executive Vice President and Chief Financial Officer of Hovnanian, (i) confirming the matters set forth in Sections 2(aa) and 2(bb), (ii) confirming that all the representations and warranties of the Company, Hovnanian and its subsidiaries herein contained are true and correct on the Closing Date with the same force and effect as if made on and as of the Closing Date (iii) that, in all material respects, the Company and Hovnanian have complied with all of the agreements and satisfied all of the conditions herein contained and required to be complied with or satisfied by the Company and Hovnanian on or prior to the Closing Date and (iv) to his knowledge, no stop order suspending the effectiveness of the Registration Statement has been issued and no proceedings for that purpose or pursuant to Section 8A under the Act have been instituted or are contemplated by the Commission.

(h) Certificate of Chief Financial or Chief Accounting Officer. The Representatives shall have received a certificate of the chief financial or chief accounting officer of the Company, dated as of the date hereof and as of the Closing Date, substantially in the form of Exhibit C hereto.

(i) The Representatives shall have received a counterpart, conformed as executed, of the Supplemental Indenture which shall have been entered into by the Company, Hovnanian, the other Guarantors and the Trustee.

The Company and the Guarantors will furnish the Representatives with such conformed copies of such opinions, certificates, letters and documents as the Representatives reasonably request. The Representatives may in their sole discretion waive on behalf of the Underwriters compliance with any conditions to the obligations of the Underwriters hereunder.

8. Indemnification and Contribution. (a) The Company and each of the Guarantors will jointly and severally indemnify and hold harmless each Underwriter, its partners, directors and officers and each person, if any, who controls any Underwriter within the meaning of Section 15 of the Act, against any losses, claims, damages or liabilities, joint or several, to which any Underwriter may become subject, under the Act or the 1934 Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus or any Time of Sale Information, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, any Issuer Free Writing Prospectus or any Time of Sale Information, in the light of the circumstances under which they were made) not misleading, and will reimburse each Underwriter for any legal or other expenses reasonably incurred by such Underwriter in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company and the Guarantors will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents made in reliance upon and in conformity with written information furnished to the Company or Hovnanian by any Underwriter through the Representatives specifically for use therein, it being understood and agreed that the only such information furnished by any Underwriter through the Representatives consists of the information described as such in Section 8(b) hereof.

 

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(b) Each Underwriter will severally and not jointly indemnify and hold harmless the Company, each Guarantor, their respective directors and officers and each person, if any, who controls the Company or any Guarantor within the meaning of Section 15 of the Act, against any losses, claims, damages or liabilities to which the Company or the Guarantors may become subject, under the Act or the 1934 Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the Registration Statement, the Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus or any Time of Sale Information, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, any Issuer Free Writing Prospectus or any Time of Sale Information, in the light of the circumstances under which they were made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company or Hovnanian by such Underwriter through the Representatives specifically for use therein, and will reimburse any legal or other expenses reasonably incurred by the Company in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred, it being understood and agreed that the only such information furnished by any Underwriter through the Representatives consists of the following information in the Prospectus: the third paragraph, the first and second sentences of the fifth paragraph, the ninth paragraph and the tenth paragraph under the caption “Underwriting”; provided, however, that the Underwriters shall not be liable for any losses, claims, damages or liabilities arising out of or based upon the Company’s or Hovnanian’s failure to perform its obligations under Section 5(b) of this Agreement.

(c) Promptly after receipt by an indemnified party under this Section of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under Section 8(a) or 8(b) hereof, notify the indemnifying party of the commencement thereof; but the failure to notify the indemnifying party shall not relieve it from any liability that it may have under Section 8(a) or 8(b) hereof except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the failure to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under Section 8(a) or 8(b) hereof. In case any such action is brought against any indemnified party and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Section, for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement (i) includes an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any indemnified party.

(d) If the indemnification provided for in this Section 8 is unavailable or insufficient to hold harmless an indemnified party under Section 8(a) or 8(b) hereof, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to in Section 8(a) or 8(b) hereof (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors on the one hand and the Underwriters on the other from the offering of the Securities or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Guarantors on the one hand and the Underwriters on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantors on the one hand and the

 

13

Underwriters on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the Company and the Guarantors bear to the total underwriting discounts and commissions received by the Underwriters from the Company under this Agreement. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors or the Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the losses, claims, damages or liabilities referred to in the first sentence of this Section 8(d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any action or claim that is the subject of this Section 8(d). Notwithstanding the provisions of this Section 8(d), no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Underwriters’ obligations in this Section 8(d) to contribute are several in proportion to their respective underwriting obligations and not joint.

(e) The obligations of the Company and the Guarantors under this Section 8 shall be in addition to any liability that the Company and the Guarantors may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of the Act; and the obligations of the Underwriters under this Section 8 shall be in addition to any liability that the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each director and officer of the Company and each Guarantor and to each person, if any, who controls the Company or any Guarantor within the meaning of the Act or the 1934 Act.

9. Default of Underwriters. If any Underwriter or Underwriters default(s) in its or their obligations to purchase Securities hereunder on the Closing Date and the aggregate principal amount of Securities that such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed 10% of the aggregate principal amount of Securities that the Underwriters are obligated to purchase on the Closing Date, the Representatives may make arrangements satisfactory to the Company for the purchase of such Securities by other persons, including any of the Underwriters, but if no such arrangements are made by the Closing Date, the non-defaulting Underwriters shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Securities that such defaulting Underwriter or Underwriters agreed but failed to purchase on the Closing Date. If any Underwriter or Underwriters so default(s) and the aggregate principal amount of Securities with respect to which such default or defaults occur(s) exceeds 10% of the aggregate principal amount of Securities that the Underwriters are obligated to purchase on the Closing Date and arrangements satisfactory to the Representatives, the Company and Hovnanian for the purchase of such Securities by other persons are not made within 48 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Underwriter, the Company and Hovnanian, except as provided in Section 10 hereof. As used in this Agreement, the term “Underwriter” includes any person substituted for an Underwriter under this Section. Nothing herein will relieve a defaulting Underwriter from liability for its default.

10. Survival of Certain Representations and Obligations. The respective indemnities, contribution agreements, representations, warranties and other statements of the Company, Hovnanian and the several Underwriters set forth in or made pursuant to this Agreement shall remain operative and in full force and effect, and will survive delivery of and payment for the Securities, regardless of (i) any investigation, or statement as to the results thereof, made by or on behalf of any Underwriter, the officers or directors of any Underwriter, any person controlling any Underwriter, the Company or Hovnanian, the officers or directors of the Company or Hovnanian or any person controlling the Company or Hovnanian, (ii) acceptance of and payment for the Securities hereunder and (iii) termination of this Agreement. If for any reason the Securities are not delivered by or on behalf of the Company as provided herein (other than as a result of any termination of this Agreement pursuant to Section 7(c)(iii), (iv) (only to the extent there is a material suspension or material limitation of trading of securities generally on the New York Stock Exchange or any setting of minimum prices for trading on such exchange), (v), (iv) or

 

14

(vii)), the Company and Hovnanian, jointly and severally, agree to reimburse the several Underwriters for all out-of-pocket expenses (including the fees and disbursements of counsel) incurred by them. Notwithstanding any termination of this Agreement, the Company and Hovnanian, jointly and severally, shall be liable for all expenses which they have agreed to pay pursuant to Section 5(i) hereof. The Company and Hovnanian, jointly and severally, also agree to reimburse the several Underwriters, their directors and officers and any persons controlling any of the Underwriters for any and all fees and expenses (including, without limitation, the fees disbursements of counsel) incurred by them in connection with enforcing their rights hereunder (including, without limitation, their rights under Section 8 hereof).

11. Arm’s Length Relationship; No Fiduciary Duty. The Company acknowledges and agrees that the Representatives are acting solely in the capacity of arm’s length contractual counterparties to the Company with respect to the Securities (including in connection with determining the terms of the offering contemplated by this Agreement) and not as a financial advisor, agent or fiduciary to the Company or any other person. Additionally, the Representatives are not advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall consult with its own advisors concerning such matters and shall be responsible for making their own independent investigation and appraisal of the transactions contemplated by this Agreement, and the Representatives shall have no responsibility or liability to the Company with respect thereto. Any review by the Representatives of the Company, the transactions contemplated by this Agreement or other matters relating to such transactions will be performed solely for the benefit of the Representatives and shall not be on behalf of the Company.

12. Notices. All communications hereunder will be in writing and, if sent to the Underwriters, will be mailed, delivered or telegraphed and confirmed to the Representatives c/o Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York 10010-3629, fax no. 212-325-8278 and confirmation number 212-538-0661, Attention: Transactions Advisory Group, or, if sent to the Company or any Guarantor, will be mailed, delivered or telegraphed and confirmed to Hovnanian Enterprises, Inc., 110 West Front Street, P.O. Box 500, Red Bank, New Jersey 07701, fax no. 732-747-6835 and confirmation number 732-747-7800, Attention: Corporate Counsel; provided, however, that any notice to an Underwriter pursuant to Section 8 hereof will be mailed, delivered or telegraphed and confirmed to such Underwriter as set forth in Exhibit D.

13. Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers and directors and controlling persons referred to in Section 8 hereof, and no other person will have any right or obligation hereunder.

14. Representation of Underwriters. The Representatives will act for the several Underwriters in connection with this financing, and any action under this Agreement taken by the Representatives will be binding upon all the Underwriters.

15. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same Agreement.

16. Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York.

 

15

If the foregoing is in accordance with the Representatives’ understanding of our agreement, kindly sign and return to the Company one of the counterparts hereof, whereupon it will become a binding agreement between the Company, Hovnanian, the other Guarantors and the several Underwriters in accordance with its terms.

Very truly yours,

 

K. HOVNANIAN ENTERPRISES, INC.
By:   /s/ J. Larry Sorsby
 

 

  Name: J. Larry Sorsby
 

Title: Executive Vice President and Chief

          Financial Officer

HOVNANIAN ENTERPRISES, INC.
By:   /s/ J. Larry Sorsby
 

 

  Name: J. Larry Sorsby
 

Title: Executive Vice President and Chief

          Financial Officer

K. HOV IP, INC.

By:   /s/ David Valiaveedan
 

 

  Name: David Valiaveedan
  Title: Chief Executive Officer and Treasurer

K. HOV IP, II, INC.

By:   /s/ David Valiaveedan
 

 

  Name: David Valiaveedan
  Title: Chief Executive Officer and Treasurer

On behalf of each other entity named in

Schedule A hereto

By:

  

/s/ J. Larry Sorsby

  Name: Larry Sorsby
 

Title: Executive Vice President and Chief

          Financial Officer

[Signature page to Underwriting Agreement]

The foregoing Underwriting Agreement is hereby confirmed

and accepted as of the date first above written.

By: CREDIT SUISSE SECURITIES (USA) LLC

 

By:

  

/s/ Eric A. Anderson

 

Name: Eric A. Anderson

 

Title: Vice Chairman

[Signature page to Underwriting Agreement]

SCHEDULE A

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.

K. HOVNANIAN ABERDEEN, LLC

K. HOVNANIAN ACQUISITIONS, INC.

K. HOVNANIAN AT 4S, LLC

K. HOVNANIAN AT ACQUA VISTA, LLC

K. HOVNANIAN AT ALISO, LLC

K. HOVNANIAN AT ALLENTOWN, L.L.C.

K. HOVNANIAN AT ANDALUSIA, LLC

K. HOVNANIAN AT ARBOR HEIGHTS, LLC

K. HOVNANIAN 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

K. HOVNANIAN 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.

K. HOVNANIAN 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

K. HOVNANIAN AT CEDAR GROVE III, L.L.C.

K. HOVNANIAN AT CEDAR GROVE V, L.L.C.

K. HOVNANIAN AT CHADDS FORD, LLC

K. HOVNANIAN AT CHARTER WAY, LLC

K. HOVNANIAN AT CHESTER I, L.L.C.

K. HOVNANIAN AT CHESTERFIELD, L.L.C.

K. HOVNANIAN AT CIELO, L.L.C.

K. HOVNANIAN AT CLIFTON, L.L.C.

 

Schedule A-1

K. HOVNANIAN AT COASTLINE, L.L.C.

K. HOVNANIAN AT CORTEZ HILL, LLC

K. HOVNANIAN AT CRANBURY, L.L.C.

K. HOVNANIAN AT DENVILLE, L.L.C.

K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.

K. HOVNANIAN AT DOMINGUEZ HILLS, INC.

K. HOVNANIAN AT DUVAL POINTE, LLC

K. HOVNANIAN AT EAST BRANDYWINE, L.L.C.

K. HOVNANIAN AT EASTLAKE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT EVERGREEN, L.L.C.

K. HOVNANIAN AT FIDDYMENT RANCH, LLC

K. HOVNANIAN AT FIFTH AVENUE, L.L.C.

K. HOVNANIAN AT FLORENCE I, L.L.C.

K. HOVNANIAN AT FLORENCE II, L.L.C.

K. HOVNANIAN AT FOREST MEADOWS, L.L.C.

K. HOVNANIAN AT FRANKLIN II, 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

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. HOVNANIAN AT GILROY 60, LLC

K. HOVNANIAN AT GILROY, LLC

K. HOVNANIAN AT GRAND CYPRESS, LLC

K. HOVNANIAN 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.

K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.

K. HOVNANIAN AT HOWELL, LLC

K. HOVNANIAN AT HUDSON POINTE, L.L.C.

K. HOVNANIAN AT HUNTFIELD, LLC

K. HOVNANIAN AT JACKSON I, L.L.C.

K. HOVNANIAN AT JACKSON, L.L.C.

K. HOVNANIAN AT JAEGER RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT LA HABRA KNOLLS, LLC

K. HOVNANIAN AT LA LAGUNA, L.L.C.

K. HOVNANIAN AT LAKE BURDEN, LLC

 

Schedule A-2

K. HOVNANIAN AT LAKE RANCHO VIEJO, LLC

K. HOVNANIAN AT LAKE RIDGE ESTATES, LLC

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.

K. HOVNANIAN AT LAWRENCE V, L.L.C.

K. HOVNANIAN AT LEE SQUARE L.L.C.

K. HOVNANIAN AT LENAH WOODS, LLC

K. HOVNANIAN 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 MORELAND I, L.L.C.

K. HOVNANIAN AT LOWER MORELAND II, L.L.C.

K. HOVNANIAN AT MAHWAH VI, INC.

K. HOVNANIAN AT MALAN 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

K. HOVNANIAN 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 MELANIE MEADOWS, LLC

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.

K. HOVNANIAN AT MENIFEE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT MIDDLETOWN, LLC

K. HOVNANIAN AT MILLVILLE I, L.L.C.

K. HOVNANIAN AT MILLVILLE II, L.L.C.

K. HOVNANIAN AT MONROE II, INC.

K. HOVNANIAN AT MONROE IV, L.L.C.

K. HOVNANIAN AT MONROE NJ II, LLC

K. HOVNANIAN AT MONROE NJ, L.L.C.

K. HOVNANIAN AT MONTGOMERY, LLC

K. HOVNANIAN AT MONTVALE II, LLC

K. HOVNANIAN AT MONTVALE, L.L.C.

K. HOVNANIAN AT MOSAIC, LLC

K. HOVNANIAN AT MUIRFIELD, LLC

K. HOVNANIAN 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 CALDWELL II, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL III, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL IV, L.L.C.

 

Schedule A-3

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.

K. HOVNANIAN AT NORTHFIELD, L.L.C.

K. HOVNANIAN AT OCEAN TOWNSHIP, INC.

K. HOVNANIAN AT OCEAN WALK, INC.

K. HOVNANIAN AT OCEANPORT, L.L.C.

K. HOVNANIAN AT OLD BRIDGE, L.L.C.

K. HOVNANIAN AT OLDE ORCHARD, LLC

K. HOVNANIAN AT PARK LANE, LLC

K. HOVNANIAN AT PARKSIDE, LLC

K. HOVNANIAN AT PARSIPPANY, L.L.C.

K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C.

K. HOVNANIAN AT PAVILLION PARK, LLC

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C.

K. HOVNANIAN AT PIAZZA SERENA, 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

K. HOVNANIAN AT PRADO, L.L.C.

K. HOVNANIAN AT RANCHO SANTA MARGARITA, LLC

K. HOVNANIAN AT RANDOLPH I, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C.

K. HOVNANIAN AT RESERVES AT WHEATLAND, LLC

K. HOVNANIAN AT RIDGEMONT, L.L.C.

K. HOVNANIAN AT RIVERBEND, LLC

K. HOVNANIAN AT RODERUCK, L.L.C.

K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.

K. HOVNANIAN AT SAGE, L.L.C.

K. HOVNANIAN AT SANTA NELLA, LLC

K. HOVNANIAN AT SAWMILL, INC.

K. HOVNANIAN AT SAYREVILLE, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.

K. HOVNANIAN AT SEASONS LANDING, LLC

K. HOVNANIAN AT SHELDON GROVE, LLC

K. HOVNANIAN AT SHREWSBURY, LLC

K. HOVNANIAN AT SILVER SPRING, L.L.C.

K. HOVNANIAN AT SKYE ISLE, LLC

K. HOVNANIAN AT SMITHVILLE, INC.

K. HOVNANIAN AT SOMERS POINT, L.L.C.

K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.

K. HOVNANIAN AT STANTON, LLC

K. HOVNANIAN AT STATION SQUARE, L.L.C.

K. HOVNANIAN AT SUNRIDGE PARK, LLC

K. HOVNANIAN AT SYCAMORE, INC.

K. HOVNANIAN AT THE CROSBY, LLC

 

Schedule A-4

K. HOVNANIAN AT THE GABLES, LLC

K. HOVNANIAN AT THE MONARCH, L.L.C.

K. HOVNANIAN AT THE PRESERVE, LLC

K. HOVNANIAN AT THOMPSON RANCH, LLC

K. HOVNANIAN AT THORNBURY, INC.

K. HOVNANIAN AT TRAIL RIDGE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN AT UPPER PROVIDENCE, LLC

K. HOVNANIAN AT UPPER UWCHLAN II, L.L.C.

K. HOVNANIAN AT UPPER UWCHLAN, L.L.C.

K. HOVNANIAN AT VALLE DEL SOL, LLC

K. HOVNANIAN AT VERONA ESTATES, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.

K. HOVNANIAN AT WASHINGTON, L.L.C.

K. HOVNANIAN AT WATERSTONE, LLC

K. HOVNANIAN AT WAYNE IX, L.L.C.

K. HOVNANIAN AT WAYNE, 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

K. HOVNANIAN AT WHEELER RANCH, LLC

K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.

K. HOVNANIAN AT WILLOW BROOK, L.L.C.

K. HOVNANIAN AT WINCHESTER, LLC

K. HOVNANIAN AT WOODCREEK WEST, LLC

K. HOVNANIAN 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.

K. HOVNANIAN COMPANIES OF CALIFORNIA, INC.

K. HOVNANIAN COMPANIES OF MARYLAND, INC.

K. HOVNANIAN COMPANIES OF NEW YORK, INC.

K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC.

K. HOVNANIAN COMPANIES OF SOUTHERN CALIFORNIA, INC.

K. HOVNANIAN COMPANIES, LLC

K. HOVNANIAN CONSTRUCTION II, INC

K. HOVNANIAN CONSTRUCTION III, INC

K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.

K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.

K. HOVNANIAN DEVELOPMENTS OF D.C., INC.

K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC.

 

Schedule A-5

K. HOVNANIAN DEVELOPMENTS OF ILLINOIS, INC.

K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

K. HOVNANIAN DEVELOPMENTS OF MINNESOTA, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC.

K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF OHIO, INC.

K. HOVNANIAN DEVELOPMENTS OF PENNSYLVANIA, INC.

K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF TEXAS, INC.

K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.

K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC.

K. HOVNANIAN DFW BELMONT, LLC

K. HOVNANIAN DFW RIDGEVIEW, LLC

K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.

K. HOVNANIAN EDGEBROOK, LLC

K. HOVNANIAN 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

K. HOVNANIAN FOUR SEASONS AT GOLD HILL, LLC

K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC

K. HOVNANIAN GREAT WESTERN HOMES, LLC

K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C.

K. HOVNANIAN HIDDEN HOLLOW, LLC

K. HOVNANIAN HOLDINGS NJ, L.L.C.

K. HOVNANIAN HOMES — DFW, L.L.C.

K. HOVNANIAN HOMES AT CAMERON STATION, LLC

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.

K. HOVNANIAN HOMES AT CREEKSIDE, LLC

K. HOVNANIAN 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 JONES STATION 1, L.L.C.

K. HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C.

K. HOVNANIAN HOMES AT REEDY CREEK, LLC

K. HOVNANIAN HOMES AT RENAISSANCE PLAZA, L.L.C.

K. HOVNANIAN HOMES AT RUSSETT, L.L.C.

K. HOVNANIAN HOMES AT ST. JAMES PLACE, LLC

K. HOVNANIAN HOMES AT THE HIGHLANDS, LLC

K. HOVNANIAN HOMES AT THE PADDOCKS, LLC

K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC.

K. HOVNANIAN 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 LONGACRE VILLAGE, L.L.C.

K. HOVNANIAN HOMES OF MARYLAND, L.L.C.

K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.

 

Schedule A-6

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.

K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.

K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC

K. HOVNANIAN HOMES OF VIRGINIA, INC.

K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.

K. HOVNANIAN INDIAN TRAILS, LLC

K. HOVNANIAN LADUE RESERVE, LLC

K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC

K. HOVNANIAN MANALAPAN ACQUISITION, LLC

K. HOVNANIAN MONARCH GROVE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.

K. HOVNANIAN PROPERTIES OF RED BANK, INC.

K. HOVNANIAN RIVENDALE, LLC

K. HOVNANIAN SCHADY RESERVE, LLC

K. HOVNANIAN SHORE ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTH FORK, LLC

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.

K. HOVNANIAN STERLING RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN VENTURE I, L.L.C.

K. HOVNANIAN WATERBURY, LLC

K. HOVNANIAN WHITE ROAD, LLC

K. HOVNANIAN WINDWARD HOMES, LLC

K. HOVNANIAN WOODLAND POINTE, LLC

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC

K. HOVNANIAN’S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC

K. HOVNANIAN’S 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

K. HOVNANIAN’S FOUR SEASONS AT MORENO 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

K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC

 

Schedule A-7

K. HOVNANIAN’S 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

K. HOVNANIAN’S 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.

 

Schedule A-8

SCHEDULE B

 

Underwriter

    Principal
Amount of
Securities		  

Credit Suisse Securities (USA) LLC

    $ 41,581,000   

Total

    $ 41,581,000   

 

Schedule B-1

SCHEDULE C

Specified Subsidiaries

K. Hovnanian Developments of California, Inc.

K. Hovnanian Developments of Maryland, Inc.

K. Hovnanian Developments of New Jersey, Inc.

K. Hovnanian Holdings NJ, L.L.C.

K. Hovnanian Developments of Virginia, Inc.

K. Hovnanian American Mortgage, L.L.C.

K. Hovnanian Companies, LLC

 

Schedule C-1

EX-4.26 3 d597821dex426.htm EX-4.26 EX-4.26

Exhibit 4.26

ELEVENTH SUPPLEMENTAL INDENTURE

dated as of September 16, 2013

among

K. HOVNANIAN 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 K. Hovnanian 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;

 

2

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,”

 

3

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.

 

4

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]

 

5

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.

 

K. HOVNANIAN ENTERPRISES, INC.
By:   /s/ J. Larry Sorsby
 

Name: J. Larry Sorsby

Title:   Executive Vice President and

            Chief Financial Officer

 

HOVNANIAN ENTERPRISES, INC.
By:   /s/ J. Larry Sorsby
 

Name: J. Larry Sorsby

Title:   Executive Vice President and

            Chief Financial Officer

 

K. HOV IP, INC.
By:   /s/ David Valiaveedan
 

Name: David Valiaveedan

Title:   Chief Executive Officer and

            Treasurer

 

K. HOV IP, II, INC.
By:   /s/ David Valiaveedan
 

Name: David Valiaveedan

Title:   Chief Executive Officer and

            Treasurer

 

On behalf of each other entity named in

Schedule A hereto

By:   /s/ J. Larry Sorsby
 

Name: Larry Sorsby

Title:   Executive Vice President and

            Chief Financial Officer

[Signature page to Supplemental Indenture]

DEUTSCHE BANK NATIONAL TRUST       COMPANY, as Trustee
By:   /s/ Chris Niesz
 

Name: Chris Niesz

Title:   Associate

 

By:   /s/ Kathryn Fischer
 

Name: Kathryn Fischer

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.

K. HOVNANIAN ABERDEEN, LLC

K. HOVNANIAN ACQUISITIONS, INC.

K. HOVNANIAN AT 4S, LLC

K. HOVNANIAN AT ACQUA VISTA, LLC

K. HOVNANIAN AT ALISO, LLC

K. HOVNANIAN AT ALLENTOWN, L.L.C.

K. HOVNANIAN AT ANDALUSIA, LLC

K. HOVNANIAN AT ARBOR HEIGHTS, LLC

K. HOVNANIAN 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

K. HOVNANIAN 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.

K. HOVNANIAN 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

 

S-1

K. HOVNANIAN AT CEDAR GROVE III, L.L.C.

K. HOVNANIAN AT CEDAR GROVE V, L.L.C.

K. HOVNANIAN AT CHADDS FORD, LLC

K. HOVNANIAN AT CHARTER WAY, LLC

K. HOVNANIAN AT CHESTER I, L.L.C.

K. HOVNANIAN AT CHESTERFIELD, L.L.C.

K. HOVNANIAN AT CIELO, L.L.C.

K. HOVNANIAN AT CLIFTON, L.L.C.

K. HOVNANIAN AT COASTLINE, L.L.C.

K. HOVNANIAN AT CORTEZ HILL, LLC

K. HOVNANIAN AT CRANBURY, L.L.C.

K. HOVNANIAN AT DENVILLE, L.L.C.

K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.

K. HOVNANIAN AT DOMINGUEZ HILLS, INC.

K. HOVNANIAN AT DUVAL POINTE, LLC

K. HOVNANIAN AT EAST BRANDYWINE, L.L.C.

K. HOVNANIAN AT EASTLAKE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT EVERGREEN, L.L.C.

K. HOVNANIAN AT FIDDYMENT RANCH, LLC

K. HOVNANIAN AT FIFTH AVENUE, L.L.C.

K. HOVNANIAN AT FLORENCE I, L.L.C.

K. HOVNANIAN AT FLORENCE II, L.L.C.

K. HOVNANIAN AT FOREST MEADOWS, L.L.C.

K. HOVNANIAN AT FRANKLIN II, 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

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. HOVNANIAN AT GILROY 60, LLC

K. HOVNANIAN AT GILROY, LLC

K. HOVNANIAN AT GRAND CYPRESS, LLC

K. HOVNANIAN 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.

 

S-2

K. HOVNANIAN AT HERSHEY’S MILL, INC.

K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.

K. HOVNANIAN AT HOWELL, LLC

K. HOVNANIAN AT HUDSON POINTE, L.L.C.

K. HOVNANIAN AT HUNTFIELD, LLC

K. HOVNANIAN AT JACKSON I, L.L.C.

K. HOVNANIAN AT JACKSON, L.L.C.

K. HOVNANIAN AT JAEGER RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT LA HABRA KNOLLS, LLC

K. HOVNANIAN AT LA LAGUNA, L.L.C.

K. HOVNANIAN AT LAKE BURDEN, LLC

K. HOVNANIAN AT LAKE RANCHO VIEJO, LLC

K. HOVNANIAN AT LAKE RIDGE ESTATES, LLC

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.

K. HOVNANIAN AT LAWRENCE V, L.L.C.

K. HOVNANIAN AT LEE SQUARE L.L.C.

K. HOVNANIAN AT LENAH WOODS, LLC

K. HOVNANIAN 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 MORELAND I, L.L.C.

K. HOVNANIAN AT LOWER MORELAND II, L.L.C.

K. HOVNANIAN AT MAHWAH VI, INC.

K. HOVNANIAN AT MALAN 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

K. HOVNANIAN 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.

 

S-3

K. HOVNANIAN AT MELANIE MEADOWS, LLC

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.

K. HOVNANIAN AT MENIFEE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT MIDDLETOWN, LLC

K. HOVNANIAN AT MILLVILLE I, L.L.C.

K. HOVNANIAN AT MILLVILLE II, L.L.C.

K. HOVNANIAN AT MONROE II, INC.

K. HOVNANIAN AT MONROE IV, L.L.C.

K. HOVNANIAN AT MONROE NJ II, LLC

K. HOVNANIAN AT MONROE NJ, L.L.C.

K. HOVNANIAN AT MONTGOMERY, LLC

K. HOVNANIAN AT MONTVALE II, LLC

K. HOVNANIAN AT MONTVALE, L.L.C.

K. HOVNANIAN AT MOSAIC, LLC

K. HOVNANIAN AT MUIRFIELD, LLC

K. HOVNANIAN 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 CALDWELL II, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL III, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL 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.

K. HOVNANIAN AT NORTHFIELD, L.L.C.

K. HOVNANIAN AT OCEAN TOWNSHIP, INC.

K. HOVNANIAN AT OCEAN WALK, INC.

K. HOVNANIAN AT OCEANPORT, L.L.C.

K. HOVNANIAN AT OLD BRIDGE, L.L.C.

K. HOVNANIAN AT OLDE ORCHARD, LLC

K. HOVNANIAN AT PARK LANE, LLC

K. HOVNANIAN AT PARKSIDE, LLC

K. HOVNANIAN AT PARSIPPANY, L.L.C.

K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C.

K. HOVNANIAN AT PAVILLION PARK, LLC

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C.

K. HOVNANIAN AT PIAZZA SERENA, 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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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

K. HOVNANIAN AT PRADO, L.L.C.

K. HOVNANIAN AT RANCHO SANTA MARGARITA, LLC

K. HOVNANIAN AT RANDOLPH I, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C.

K. HOVNANIAN AT RESERVES AT WHEATLAND, LLC

K. HOVNANIAN AT RIDGEMONT, L.L.C.

K. HOVNANIAN AT RIVERBEND, LLC

K. HOVNANIAN AT RODERUCK, L.L.C.

K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.

K. HOVNANIAN AT SAGE, L.L.C.

K. HOVNANIAN AT SANTA NELLA, LLC

K. HOVNANIAN AT SAWMILL, INC.

K. HOVNANIAN AT SAYREVILLE, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.

K. HOVNANIAN AT SEASONS LANDING, LLC

K. HOVNANIAN AT SHELDON GROVE, LLC

K. HOVNANIAN AT SHREWSBURY, LLC

K. HOVNANIAN AT SILVER SPRING, L.L.C.

K. HOVNANIAN AT SKYE ISLE, LLC

K. HOVNANIAN AT SMITHVILLE, INC.

K. HOVNANIAN AT SOMERS POINT, L.L.C.

K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.

K. HOVNANIAN AT STANTON, LLC

K. HOVNANIAN AT STATION SQUARE, L.L.C.

K. HOVNANIAN AT SUNRIDGE PARK, LLC

K. HOVNANIAN AT SYCAMORE, INC.

K. HOVNANIAN AT THE CROSBY, LLC

K. HOVNANIAN AT THE GABLES, LLC

K. HOVNANIAN AT THE MONARCH, L.L.C.

K. HOVNANIAN AT THE PRESERVE, LLC

K. HOVNANIAN AT THOMPSON RANCH, LLC

K. HOVNANIAN AT THORNBURY, INC.

K. HOVNANIAN AT TRAIL RIDGE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN AT UPPER PROVIDENCE, LLC

K. HOVNANIAN AT UPPER UWCHLAN II, L.L.C.

 

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K. HOVNANIAN AT UPPER UWCHLAN, L.L.C.

K. HOVNANIAN AT VALLE DEL SOL, LLC

K. HOVNANIAN AT VERONA ESTATES, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.

K. HOVNANIAN AT WASHINGTON, L.L.C.

K. HOVNANIAN AT WATERSTONE, LLC

K. HOVNANIAN AT WAYNE IX, L.L.C.

K. HOVNANIAN AT WAYNE, 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

K. HOVNANIAN AT WHEELER RANCH, LLC

K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.

K. HOVNANIAN AT WILLOW BROOK, L.L.C.

K. HOVNANIAN AT WINCHESTER, LLC

K. HOVNANIAN AT WOODCREEK WEST, LLC

K. HOVNANIAN 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.

K. HOVNANIAN COMPANIES OF CALIFORNIA, INC.

K. HOVNANIAN COMPANIES OF MARYLAND, INC.

K. HOVNANIAN COMPANIES OF NEW YORK, INC.

K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC.

K. HOVNANIAN COMPANIES OF SOUTHERN CALIFORNIA, INC.

K. HOVNANIAN COMPANIES, LLC

K. HOVNANIAN CONSTRUCTION II, INC

K. HOVNANIAN CONSTRUCTION III, INC

K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.

K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.

K. HOVNANIAN DEVELOPMENTS OF D.C., INC.

K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC.

K. HOVNANIAN DEVELOPMENTS OF ILLINOIS, INC.

K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

 

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K. HOVNANIAN DEVELOPMENTS OF MINNESOTA, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC.

K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF OHIO, INC.

K. HOVNANIAN DEVELOPMENTS OF PENNSYLVANIA, INC.

K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF TEXAS, INC.

K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.

K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC.

K. HOVNANIAN DFW BELMONT, LLC

K. HOVNANIAN DFW RIDGEVIEW, LLC

K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.

K. HOVNANIAN EDGEBROOK, LLC

K. HOVNANIAN 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

K. HOVNANIAN FOUR SEASONS AT GOLD HILL, LLC

K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC

K. HOVNANIAN GREAT WESTERN HOMES, LLC

K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C.

K. HOVNANIAN HIDDEN HOLLOW, LLC

K. HOVNANIAN HOLDINGS NJ, L.L.C.

K. HOVNANIAN HOMES — DFW, L.L.C.

K. HOVNANIAN HOMES AT CAMERON STATION, LLC

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.

K. HOVNANIAN HOMES AT CREEKSIDE, LLC

K. HOVNANIAN 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 JONES STATION 1, L.L.C.

K. HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C.

K. HOVNANIAN HOMES AT REEDY CREEK, LLC

K. HOVNANIAN HOMES AT RENAISSANCE PLAZA, L.L.C.

K. HOVNANIAN HOMES AT RUSSETT, L.L.C.

K. HOVNANIAN HOMES AT ST. JAMES PLACE, LLC

K. HOVNANIAN HOMES AT THE HIGHLANDS, LLC

K. HOVNANIAN HOMES AT THE PADDOCKS, LLC

K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC.

K. HOVNANIAN HOMES OF D.C., L.L.C.

K. HOVNANIAN HOMES OF DELAWARE, L.L.C.

 

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K. HOVNANIAN HOMES OF GEORGIA, L.L.C.

K. HOVNANIAN HOMES OF HOUSTON, L.L.C.

K. HOVNANIAN HOMES OF LONGACRE 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.

K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.

K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC

K. HOVNANIAN HOMES OF VIRGINIA, INC.

K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.

K. HOVNANIAN INDIAN TRAILS, LLC

K. HOVNANIAN LADUE RESERVE, LLC

K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC

K. HOVNANIAN MANALAPAN ACQUISITION, LLC

K. HOVNANIAN MONARCH GROVE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.

K. HOVNANIAN PROPERTIES OF RED BANK, INC.

K. HOVNANIAN RIVENDALE, LLC

K. HOVNANIAN SCHADY RESERVE, LLC

K. HOVNANIAN SHORE ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTH FORK, LLC

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.

K. HOVNANIAN STERLING RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN VENTURE I, L.L.C.

K. HOVNANIAN WATERBURY, LLC

K. HOVNANIAN WHITE ROAD, LLC

K. HOVNANIAN WINDWARD HOMES, LLC

 

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K. HOVNANIAN WOODLAND POINTE, LLC

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC

K. HOVNANIAN’S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC

K. HOVNANIAN’S 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

K. HOVNANIAN’S FOUR SEASONS AT MORENO 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

K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC

K. HOVNANIAN’S 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

K. HOVNANIAN’S 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.

 

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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

K. HOVNANIAN ENTERPRISES, INC.

 

6.25% Senior Notes Due 2016    
    CUSIP No.: 442488AY8
No.    

$41,581,000, or such other amount

as is provided in the schedule of

exchanges of interests in global notes

attached hereto

K. Hovnanian 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

 

    K. HOVNANIAN ENTERPRISES, INC.
    By:    
      Name:
      Title:

 

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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]

K. HOVNANIAN 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.

K. Hovnanian 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

 

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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.

 

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“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.

 

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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.

 

R-5

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.

 

R-6

[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.

 

R-7

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.

 

R-10

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.

K. HOVNANIAN ABERDEEN, LLC

K. HOVNANIAN ACQUISITIONS, INC.

K. HOVNANIAN AT 4S, LLC

K. HOVNANIAN AT ACQUA VISTA, LLC

K. HOVNANIAN AT ALISO, LLC

K. HOVNANIAN AT ALLENTOWN, L.L.C.

K. HOVNANIAN AT ANDALUSIA, LLC

K. HOVNANIAN AT ARBOR HEIGHTS, LLC

K. HOVNANIAN 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

K. HOVNANIAN 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.

K. HOVNANIAN 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

K. HOVNANIAN AT CEDAR GROVE III, L.L.C.

K. HOVNANIAN AT CEDAR GROVE V, L.L.C.

K. HOVNANIAN AT CHADDS FORD, LLC

K. HOVNANIAN AT CHARTER WAY, LLC

K. HOVNANIAN AT CHESTER I, L.L.C.

K. HOVNANIAN AT CHESTERFIELD, L.L.C.

K. HOVNANIAN AT CIELO, L.L.C.

K. HOVNANIAN AT CLIFTON, L.L.C.

K. HOVNANIAN AT COASTLINE, L.L.C.

K. HOVNANIAN AT CORTEZ HILL, LLC

K. HOVNANIAN AT CRANBURY, L.L.C.

K. HOVNANIAN AT DENVILLE, L.L.C.

K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.

 

R-11

K. HOVNANIAN AT DOMINGUEZ HILLS, INC.

K. HOVNANIAN AT DUVAL POINTE, LLC

K. HOVNANIAN AT EAST BRANDYWINE, L.L.C.

K. HOVNANIAN AT EASTLAKE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT EVERGREEN, L.L.C.

K. HOVNANIAN AT FIDDYMENT RANCH, LLC

K. HOVNANIAN AT FIFTH AVENUE, L.L.C.

K. HOVNANIAN AT FLORENCE I, L.L.C.

K. HOVNANIAN AT FLORENCE II, L.L.C.

K. HOVNANIAN AT FOREST MEADOWS, L.L.C.

K. HOVNANIAN AT FRANKLIN II, 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

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. HOVNANIAN AT GILROY 60, LLC

K. HOVNANIAN AT GILROY, LLC

K. HOVNANIAN AT GRAND CYPRESS, LLC

K. HOVNANIAN 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.

K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.

K. HOVNANIAN AT HOWELL, LLC

K. HOVNANIAN AT HUDSON POINTE, L.L.C.

K. HOVNANIAN AT HUNTFIELD, LLC

K. HOVNANIAN AT JACKSON I, L.L.C.

K. HOVNANIAN AT JACKSON, L.L.C.

K. HOVNANIAN AT JAEGER RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT LA COSTA, LLC

K. HOVNANIAN AT LA HABRA KNOLLS, LLC

K. HOVNANIAN AT LA LAGUNA, L.L.C.

K. HOVNANIAN AT LAKE BURDEN, LLC

K. HOVNANIAN AT LAKE RANCHO VIEJO, LLC

K. HOVNANIAN AT LAKE RIDGE ESTATES, LLC

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.

K. HOVNANIAN AT LAWRENCE V, L.L.C.

K. HOVNANIAN AT LEE SQUARE L.L.C.

K. HOVNANIAN AT LENAH WOODS, LLC

K. HOVNANIAN 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 MORELAND I, L.L.C.

K. HOVNANIAN AT LOWER MORELAND II, L.L.C.

K. HOVNANIAN AT MAHWAH VI, INC.

K. HOVNANIAN AT MALAN 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

K. HOVNANIAN 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 MELANIE MEADOWS, LLC

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.

K. HOVNANIAN AT MENIFEE, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT MIDDLETOWN, LLC

K. HOVNANIAN AT MILLVILLE I, L.L.C.

K. HOVNANIAN AT MILLVILLE II, L.L.C.

K. HOVNANIAN AT MONROE II, INC.

K. HOVNANIAN AT MONROE IV, L.L.C.

K. HOVNANIAN AT MONROE NJ II, LLC

 

R-13

K. HOVNANIAN AT MONROE NJ, L.L.C.

K. HOVNANIAN AT MONTGOMERY, LLC

K. HOVNANIAN AT MONTVALE II, LLC

K. HOVNANIAN AT MONTVALE, L.L.C.

K. HOVNANIAN AT MOSAIC, LLC

K. HOVNANIAN AT MUIRFIELD, LLC

K. HOVNANIAN 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 CALDWELL II, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL III, L.L.C.

K. HOVNANIAN AT NORTH CALDWELL 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.

K. HOVNANIAN AT NORTHFIELD, L.L.C.

K. HOVNANIAN AT OCEAN TOWNSHIP, INC.

K. HOVNANIAN AT OCEAN WALK, INC.

K. HOVNANIAN AT OCEANPORT, L.L.C.

K. HOVNANIAN AT OLD BRIDGE, L.L.C.

K. HOVNANIAN AT OLDE ORCHARD, LLC

K. HOVNANIAN AT PARK LANE, LLC

K. HOVNANIAN AT PARKSIDE, LLC

K. HOVNANIAN AT PARSIPPANY, L.L.C.

K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C.

K. HOVNANIAN AT PAVILLION PARK, LLC

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C.

K. HOVNANIAN AT PIAZZA SERENA, 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

K. HOVNANIAN AT PRADO, L.L.C.

K. HOVNANIAN AT RANCHO SANTA MARGARITA, LLC

K. HOVNANIAN AT RANDOLPH I, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C.

K. HOVNANIAN AT RESERVES AT WHEATLAND, LLC

K. HOVNANIAN AT RIDGEMONT, L.L.C.

K. HOVNANIAN AT RIVERBEND, LLC

K. HOVNANIAN AT RODERUCK, L.L.C.

 

R-14

K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.

K. HOVNANIAN AT SAGE, L.L.C.

K. HOVNANIAN AT SANTA NELLA, LLC

K. HOVNANIAN AT SAWMILL, INC.

K. HOVNANIAN AT SAYREVILLE, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.

K. HOVNANIAN AT SEASONS LANDING, LLC

K. HOVNANIAN AT SHELDON GROVE, LLC

K. HOVNANIAN AT SHREWSBURY, LLC

K. HOVNANIAN AT SILVER SPRING, L.L.C.

K. HOVNANIAN AT SKYE ISLE, LLC

K. HOVNANIAN AT SMITHVILLE, INC.

K. HOVNANIAN AT SOMERS POINT, L.L.C.

K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.

K. HOVNANIAN AT STANTON, LLC

K. HOVNANIAN AT STATION SQUARE, L.L.C.

K. HOVNANIAN AT SUNRIDGE PARK, LLC

K. HOVNANIAN AT SYCAMORE, INC.

K. HOVNANIAN AT THE CROSBY, LLC

K. HOVNANIAN AT THE GABLES, LLC

K. HOVNANIAN AT THE MONARCH, L.L.C.

K. HOVNANIAN AT THE PRESERVE, LLC

K. HOVNANIAN AT THOMPSON RANCH, LLC

K. HOVNANIAN AT THORNBURY, INC.

K. HOVNANIAN AT TRAIL RIDGE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN AT UPPER PROVIDENCE, LLC

K. HOVNANIAN AT UPPER UWCHLAN II, L.L.C.

K. HOVNANIAN AT UPPER UWCHLAN, L.L.C.

K. HOVNANIAN AT VALLE DEL SOL, LLC

K. HOVNANIAN AT VERONA ESTATES, LLC

K. HOVNANIAN 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

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.

K. HOVNANIAN AT WASHINGTON, L.L.C.

K. HOVNANIAN AT WATERSTONE, LLC

K. HOVNANIAN AT WAYNE IX, L.L.C.

K. HOVNANIAN AT WAYNE, VIII, L.L.C.

 

R-15

K. HOVNANIAN AT WEST VIEW ESTATES, L.L.C.

K. HOVNANIAN AT WEST WINDSOR, L.L.C.

K. HOVNANIAN AT WESTSHORE, LLC

K. HOVNANIAN AT WHEELER RANCH, LLC

K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.

K. HOVNANIAN AT WILLOW BROOK, L.L.C.

K. HOVNANIAN AT WINCHESTER, LLC

K. HOVNANIAN AT WOODCREEK WEST, LLC

K. HOVNANIAN 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.

K. HOVNANIAN COMPANIES OF CALIFORNIA, INC.

K. HOVNANIAN COMPANIES OF MARYLAND, INC.

K. HOVNANIAN COMPANIES OF NEW YORK, INC.

K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC.

K. HOVNANIAN COMPANIES OF SOUTHERN CALIFORNIA, INC.

K. HOVNANIAN COMPANIES, LLC

K. HOVNANIAN CONSTRUCTION II, INC

K. HOVNANIAN CONSTRUCTION III, INC

K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.

K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.

K. HOVNANIAN DEVELOPMENTS OF D.C., INC.

K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC.

K. HOVNANIAN DEVELOPMENTS OF ILLINOIS, INC.

K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

K. HOVNANIAN DEVELOPMENTS OF MINNESOTA, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY, INC.

K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC.

K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF OHIO, INC.

K. HOVNANIAN DEVELOPMENTS OF PENNSYLVANIA, INC.

K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC.

K. HOVNANIAN DEVELOPMENTS OF TEXAS, INC.

K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.

K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC.

K. HOVNANIAN DFW BELMONT, LLC

K. HOVNANIAN DFW RIDGEVIEW, LLC

 

R-16

K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.

K. HOVNANIAN EDGEBROOK, LLC

K. HOVNANIAN 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

K. HOVNANIAN FOUR SEASONS AT GOLD HILL, LLC

K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC

K. HOVNANIAN GREAT WESTERN HOMES, LLC

K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C.

K. HOVNANIAN HIDDEN HOLLOW, LLC

K. HOVNANIAN HOLDINGS NJ, L.L.C.

K. HOVNANIAN HOMES — DFW, L.L.C.

K. HOVNANIAN HOMES AT CAMERON STATION, LLC

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.

K. HOVNANIAN HOMES AT CREEKSIDE, LLC

K. HOVNANIAN 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 JONES STATION 1, L.L.C.

K. HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C.

K. HOVNANIAN HOMES AT REEDY CREEK, LLC

K. HOVNANIAN HOMES AT RENAISSANCE PLAZA, L.L.C.

K. HOVNANIAN HOMES AT RUSSETT, L.L.C.

K. HOVNANIAN HOMES AT ST. JAMES PLACE, LLC

K. HOVNANIAN HOMES AT THE HIGHLANDS, LLC

K. HOVNANIAN HOMES AT THE PADDOCKS, LLC

K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC.

K. HOVNANIAN 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 LONGACRE 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.

K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.

K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC

K. HOVNANIAN HOMES OF VIRGINIA, INC.

K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.

K. HOVNANIAN INDIAN TRAILS, LLC

K. HOVNANIAN LADUE RESERVE, LLC

K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC

 

R-17

K. HOVNANIAN MANALAPAN ACQUISITION, LLC

K. HOVNANIAN MONARCH GROVE, LLC

K. HOVNANIAN 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.

K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.

K. HOVNANIAN PROPERTIES OF RED BANK, INC.

K. HOVNANIAN RIVENDALE, LLC

K. HOVNANIAN SCHADY RESERVE, LLC

K. HOVNANIAN SHORE ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTH FORK, LLC

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.

K. HOVNANIAN STERLING RANCH, LLC

K. HOVNANIAN 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

K. HOVNANIAN VENTURE I, L.L.C.

K. HOVNANIAN WATERBURY, LLC

K. HOVNANIAN WHITE ROAD, LLC

K. HOVNANIAN WINDWARD HOMES, LLC

K. HOVNANIAN WOODLAND POINTE, LLC

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC

K. HOVNANIAN’S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC

K. HOVNANIAN’S 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

K. HOVNANIAN’S FOUR SEASONS AT MORENO 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

K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.

 

R-18

K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC

K. HOVNANIAN’S 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

K. HOVNANIAN’S 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.

 

R-19

By:    
 

Name:

Title:   Authorized Officer

This Guarantee relates to K. Hovnanian Enterprises, Inc. 6.25% Senior Notes due 2016– CUSIP No.: 442488AY8

 

R-20

EX-5.3 4 d597821dex53.htm EX-5.3 EX-5.3

Exhibit 5.3

[Simpson Thacher & Bartlett LLP Letterhead]

September 16, 2013

Hovnanian Enterprises, Inc.

110 West Front Street

P.O. Box 500

Red Bank, New Jersey 07701

K. Hovnanian Enterprises, Inc.

110 West Front Street

P.O. Box 500

Red Bank, New Jersey 07701

Ladies and Gentlemen:

We have acted as counsel to Hovnanian Enterprises, Inc., a Delaware corporation (“Hovnanian”), K. Hovnanian Enterprises, Inc., a California corporation and a wholly-owned subsidiary of Hovnanian (“K. Hovnanian”), and to certain other subsidiaries of Hovnanian (the “Subsidiary Registrants”) in connection with the Registration Statement on Form S-3 (File No. 333-189802) (the “Registration Statement”) filed by Hovnanian, K. Hovnanian and the Subsidiary Registrants with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), and the issuance thereunder by K. Hovnanian of $41,581,000 aggregate principal amount of 6.25% Senior Notes due 2016 (the “Notes”), unconditionally guaranteed (each a “Guarantee,” and collectively, the “Guarantees”) on a senior unsecured basis by Hovnanian and the subsidiary guarantors named in Schedule I hereto (collectively, the “Schedule I Guarantors”) and the subsidiary guarantors named in Schedule II hereto (the “Schedule II Guarantors” and, collectively with Hovnanian and the Schedule I Guarantors, the “Guarantors”), pursuant to the Underwriting Agreement dated September 11, 2013 (the “Underwriting Agreement”), among K. Hovnanian, the Guarantors and the underwriter named therein.

We have examined the Registration Statement as it became effective under the Securities Act; K. Hovnanian’s and the Guarantors’ prospectus dated August 23, 2013 (the “Base Prospectus”), as supplemented by the prospectus supplement dated September 11, 2013 (together with the Base Prospectus, the “Prospectus”), filed by K. Hovnanian and the Guarantors pursuant to Rule 424(b) of the rules and regulations of the Commission under the Securities Act; the Indenture dated as of August 8, 2005 (the “Base Indenture”), among K. Hovnanian, the Guarantors and Deutsche Bank National Trust Company, as successor trustee (the “Trustee”); the Eleventh Supplemental Indenture dated as of September 16, 2013 (the “Supplemental Indenture” and, together with the Base Indenture and as otherwise amended or supplemented as of the date hereof, the “Indenture”) among K. Hovnanian, the Guarantors and the Trustee; a duplicate of the global note representing the Notes; a duplicate of the Guarantees annexed to the Notes; and the Underwriting Agreement.

We also have examined the originals, or duplicates or certified or conformed copies, of such records, agreements, documents and other instruments and have made such other investigations as we have deemed relevant and necessary in connection with the opinions hereinafter set forth. As to questions of fact material to this opinion, we have relied upon certificates or comparable documents or statements of public officials and of officers and representatives of K. Hovnanian and the Guarantors.

In rendering the opinions set forth below, we have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents. We also have assumed that the Indenture is the valid and legally binding obligation of the Trustee.

 

-2-

We have assumed further that (1) K. Hovnanian has duly authorized, executed and issued the Notes, (2) each of K. Hovnanian and the Schedule II Guarantors has duly authorized, executed and delivered the Indenture, (3) each of the Schedule II Guarantors has duly authorized and issued the Guarantees made by them, and (4) the execution, issuance and performance by K. Hovnanian of the Notes, the execution, delivery and performance by each of the Schedule II Guarantors of the Indenture, and the execution, issuance and performance of the Guarantees made by each of the Schedule II Guarantors will not violate any applicable laws (except that no such assumption is made with respect to the Delaware General Corporation Law, the Delaware Limited Liability Company Act, the law of the State of New York and the federal law of the United States).

Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, we are of the opinion that:

 

  1. Assuming due authentication of the Notes by the Trustee, the Notes constitute valid and legally binding obligations of K. Hovnanian enforceable against K. Hovnanian in accordance with their terms.

 

  2. Assuming due authentication of the Notes by the Trustee, the Guarantees constitute valid and legally binding obligations of the Guarantors enforceable against the Guarantors in accordance with their terms.

Our opinions set forth above are subject to (i) the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, (ii) general equitable principles (whether considered in a proceeding in equity or at law) and (iii) an implied covenant of good faith and fair dealing.

 

-3-

We do not express any opinion herein concerning any law other than the law of the State of New York, the federal law of the United States and the Delaware General Corporation Law. We understand that, with respects to all matters of law other than the law of the State of New York, the federal law of the United States, the Delaware General Corporation Law and the Delaware Limited Liability Company Act, you are relying on the opinion of Michael Discafani, Vice President and Corporate Counsel of Hovnanian and K. Hovnanian, dated the date hereof and filed as Exhibit 5.4 to the Current Report on Form 8-K of Hovnanian filed with the Commission in connection with the closing of the offering of the Notes.

We hereby consent to the filing of this opinion letter as Exhibit 5.3 to the Current Report on Form 8-K of Hovnanian filed with the Commission in connection with the closing of the offering of the Notes and to the use of our name under the caption “Legal Matters” in the Prospectus.

Very truly yours,

/s/ Simpson Thacher & Bartlett LLP

SIMPSON THACHER & BARTLETT LLP

 

-4-

Schedule I

Schedule I Guarantors

 

Guarantor

   

Jurisdiction of
Incorporation or
Organization

Hovnanian Enterprises, Inc.

    DE

K. Hovnanian at Chester I, L.L.C.

    DE

K. Hovnanian at Lawrence V, L.L.C.

    DE

K. Hovnanian at Mansfield I, L.L.C.

    DE

K. Hovnanian at Mansfield II, L.L.C.

    DE

K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C.

    DE

K. HOVNANIAN AT WAYNE, VIII, L.L.C.

    DE

K. Hovnanian at West Windsor, L.L.C.

    DE

K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.

    DE

K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.

    DE

K. Hovnanian Hamptons at Oak Creek II, L.L.C.

    DE

K. HOVNANIAN HOMES OF DELAWARE, L.L.C.

    DE

K. Hovnanian Homes of Longacre Village, L.L.C.

    DE

K. Hovnanian North Central Acquisitions, L.L.C.

    DE

K. Hovnanian North Jersey Acquisitions, L.L.C.

    DE

K. Hovnanian Shore Acquisitions, L.L.C.

    DE

K. Hovnanian South Jersey Acquisitions, L.L.C.

    DE

K. Hovnanian’s Four Seasons at Silver Maple Farm, L.L.C.

    DE

Washington Homes, Inc.

    DE

K. HOVNANIAN AT MONROE II, INC.

    NY

K. Hovnanian at New Windsor, L.L.C.

    NY

K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.

    NY

K. HOVNANIAN COMPANIES OF NEW YORK, INC.

    NY

K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC.

    NY

Schedule II

Non-Schedule I Guarantors

 

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

    AZ

K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC

    AZ

K. HOVNANIAN GREAT WESTERN HOMES, LLC

    AZ

New Land Title Agency, L.L.C.

    AZ

K. HOV IP, II, Inc.

    CA

K. HOV IP, INC.

    CA

K. Hovnanian at 4S, LLC

    CA

K. Hovnanian at Acqua Vista, LLC

    CA

K. Hovnanian at Aliso, LLC

    CA

K. Hovnanian at Andalusia, LLC

    CA

K. Hovnanian at Arbor Heights, LLC

    CA

K. HOVNANIAN AT AVENUE ONE, L.L.C.

    CA

K. Hovnanian at Bakersfield 463, L.L.C.

    CA

K. Hovnanian at Bella Lago, LLC

    CA

K. Hovnanian at Bridgeport, Inc.

    CA

K. HOVNANIAN AT CAPISTRANO, L.L.C.

    CA

K. Hovnanian at Carlsbad, LLC

    CA

K. Hovnanian at Charter Way, LLC

    CA

K. Hovnanian at Cielo, L.L.C.

    CA

K. Hovnanian at Coastline, L.L.C.

    CA

K. Hovnanian at Cortez Hill, LLC

    CA

K. Hovnanian at Dominguez Hills, Inc.

    CA

K. Hovnanian at Eastlake, LLC

    CA

K. Hovnanian at El Dorado Ranch II, L.L.C.

    CA

K. Hovnanian at El Dorado Ranch, L.L.C.

    CA

K. Hovnanian at Encinitas Ranch, LLC

    CA

K. Hovnanian at Evergreen, L.L.C.

    CA

K. Hovnanian at Fiddyment Ranch, LLC

    CA

K. Hovnanian at Fresno, LLC

    CA

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

    CA

K. Hovnanian at Gilroy, LLC

    CA

K. Hovnanian at Gilroy 60, LLC

    CA

K. Hovnanian at Jaeger Ranch, LLC

    CA

K. Hovnanian at La Costa Greens, L.L.C.

    CA

K. Hovnanian at La Costa, LLC

    CA

K. Hovnanian at La Habra Knolls, LLC

    CA

K. Hovnanian at La Laguna, L.L.C.

    CA

K. Hovnanian at Lake Rancho Viejo, LLC

    CA

K. Hovnanian at Malan Park, L.L.C.

    CA

K. Hovnanian at Manteca, LLC

    CA

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian at Melanie Meadows, LLC

    CA

K. Hovnanian at Menifee, LLC

    CA

K. Hovnanian at Mosaic, LLC

    CA

K. Hovnanian at Muirfield, LLC

    CA

K. HOVNANIAN AT OCEAN WALK, INC.

    CA

K. Hovnanian at Olde Orchard, LLC

    CA

K. Hovnanian at Park Lane, LLC

    CA

K. Hovnanian at Parkside, LLC

    CA

K. Hovnanian at Pavillion Park, LLC

    CA

K. Hovnanian at Piazza D’Oro, L.L.C.

    CA

K. Hovnanian at Piazza Serena, L.L.C.

    CA

K. Hovnanian at Positano, LLC

    CA

K. Hovnanian at Prado, L.L.C.

    CA

K. Hovnanian at Rancho Santa Margarita, LLC

    CA

K. Hovnanian at Riverbend, LLC

    CA

K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.

    CA

K. Hovnanian at Sage, L.L.C.

    CA

K. Hovnanian at Santa Nella, LLC

    CA

K. Hovnanian at Sheldon Grove, LLC

    CA

K. Hovnanian at Skye Isle, LLC

    CA

K. Hovnanian at Stanton, LLC

    CA

K. Hovnanian at Sunridge Park, LLC

    CA

K. Hovnanian at Sycamore, Inc.

    CA

K. Hovnanian at The Crosby, LLC

    CA

K. Hovnanian at The Gables, LLC

    CA

K. Hovnanian at The Preserve, LLC

    CA

K. Hovnanian at Thompson Ranch, LLC

    CA

K. Hovnanian at Trail Ridge, LLC

    CA

K. Hovnanian at Valle Del Sol, LLC

    CA

K. Hovnanian at Verona Estates, LLC

    CA

K. Hovnanian at Victorville, L.L.C.

    CA

K. Hovnanian at Vista Del Sol, L.L.C.

    CA

K. Hovnanian at Waterstone, LLC

    CA

K. Hovnanian at West View Estates, L.L.C.

    CA

K. Hovnanian at Westshore, LLC

    CA

K. Hovnanian at Wheeler Ranch, LLC

    CA

K. HOVNANIAN AT WINCHESTER, LLC

    CA

K. Hovnanian at Woodcreek West, LLC

    CA

K. Hovnanian Communities, Inc.

    CA

K. Hovnanian Companies of California, Inc.

    CA

K. Hovnanian Companies of Southern California, Inc.

    CA

K. Hovnanian Companies, LLC

    CA

K. Hovnanian Developments of California, Inc.

    CA

K. Hovnanian Developments of New Jersey II, Inc.

    CA

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian Developments of New Jersey, Inc.

    CA

K. Hovnanian Homes Northern California, Inc.

    CA

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C.

    CA

K. Hovnanian’s Four Seasons at Beaumont, LLC

    CA

K. Hovnanian’s Four Seasons at Hemet, LLC

    CA

K. Hovnanian’s Four Seasons at Los Banos, LLC

    CA

K. Hovnanian’s Four Seasons at Moreno Valley, L.L.C.

    CA

K. Hovnanian’s Four Seasons at Palm Springs, LLC

    CA

K. Hovnanian’s Four Seasons, LLC

    CA

K. Hovnanian’s Parkside at Towngate, L.L.C.

    CA

SEABROOK ACCUMULATION CORPORATION

    CA

STONEBROOK HOMES, INC.

    CA

K. HOVNANIAN DEVELOPMENTS OF D.C., INC.

    DC

K. Hovnanian Homes of D.C., L.L.C.

    DC

Eastern National Title Agency, LLC

    FL

HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.

    FL

HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.

    FL

K. Hovnanian at Duval Pointe, LLC

    FL

K. Hovnanian at Lake Burden, LLC

    FL

K. Hovnanian Cambridge Homes, L.L.C.

    FL

K. HOVNANIAN FIRST HOMES, L.L.C.

    FL

K. Hovnanian Florida Realty, L.L.C.

    FL

K. Hovnanian at Grand Cypress, LLC

    FL

K. Hovnanian South Fork, LLC

    FL

K. Hovnanian Sterling Ranch, LLC

    FL

K. Hovnanian T&C Homes at Florida, L.L.C.

    FL

K. HOVNANIAN WINDWARD HOMES, LLC

    FL

K. Hovnanian Developments of Georgia, Inc.

    GA

K. Hovnanian Homes at Creekside, LLC

    GA

K. Hovnanian Homes of Georgia, L.L.C.

    GA

Arbor Trails, LLC

    IL

Glenrise Grove, L.L.C.

    IL

K. Hovnanian Developments of Illinois, Inc.

    IL

K. Hovnanian Estates at Regency, L.L.C.

    IL

K. Hovnanian T&C Homes at Illinois, L.L.C.

    IL

K. Hovnanian Developments of Kentucky, Inc.

    KY

K. Hovnanian Summit Homes of Kentucky, L.L.C.

    KY

Founders Title Agency of Maryland, L.L.C.

    MD

Homebuyers Financial Services, L.L.C.

    MD

Hovnanian Land Investment Group of Maryland, L.L.C.

    MD

Hovnanian Land Investment Group, L.L.C.

    MD

K. Hovnanian at Roderuck, L.L.C.

    MD

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian at Willow Brook, L.L.C.

    MD

K. HOVNANIAN COMPANIES OF MARYLAND, INC.

    MD

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

    MD

K. Hovnanian Homes at Camp Springs, L.L.C.

    MD

K. Hovnanian Homes at Fairwood, L.L.C.

    MD

K. Hovnanian Homes at Forest Run, L.L.C.

    MD

K. Hovnanian Homes at Greenway Farm Park Towns, L.L.C.

    MD

K. Hovnanian Homes at Greenway Farm, L.L.C.

    MD

K. Hovnanian Homes at Jones Station 1, L.L.C.

    MD

K. Hovnanian Homes at Maxwell Place, L.L.C.

    MD

K. Hovnanian Homes at Renaissance Plaza, L.L.C.

    MD

K. Hovnanian Homes at Russett, L.L.C.

    MD

K. Hovnanian Homes at the Highlands, LLC

    MD

K. Hovnanian Homes of Maryland, L.L.C.

    MD

K. Hovnanian’s Four Seasons at Kent Island Condominiums, L.L.C.

    MD

K. Hovnanian’s Four Seasons at Kent Island, L.L.C.

    MD

K. Hovnanian’s Four Seasons at St. Margarets Landing, L.L.C.

    MD

PADDOCKS, L.L.C.

    MD

Pine Ayr, LLC

    MD

Ridgemore Utility, L.L.C.

    MD

Washington Homes at Columbia Town Center, L.L.C.

    MD

WH PROPERTIES, INC.

    MD

Woodland Lake Condominiums at Bowie New Town, L.L.C.

    MD

K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.

    MN

K. Hovnanian Developments of Minnesota, Inc.

    MN

K. Hovnanian Homes of Minnesota, L.L.C.

    MN

K. Hovnanian Liberty on Bluff Creek, LLC

    MN

K. Hovnanian Timbres at Elm Creek, LLC

    MN

K. Hovnanian’s Four Seasons at Rush Creek II, LLC

    MN

K. Hovnanian’s Four Seasons at Rush Creek, L.L.C.

    MN

K. Hovnanian Developments of North Carolina, Inc.

    NC

K. Hovnanian Homes at Reedy Creek, LLC

    NC

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.

    NC

K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.

    NC

WESTMINSTER HOMES, INC.

    NC

Auddie Enterprises, L.L.C.

    NJ

Builder Services NJ, L.L.C.

    NJ

EASTERN TITLE AGENCY, INC.

    NJ

F&W MECHANICAL SERVICES, L.L.C.

    NJ

K. Hovnanian Acquisitions, Inc.

    NJ

K. Hovnanian at Barnegat I, L.L.C.

    NJ

K. Hovnanian at Barnegat II, L.L.C.

    NJ

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian at Berkeley, L.L.C.

    NJ

K. Hovnanian at Blue Heron Pines, L.L.C.

    NJ

K. Hovnanian at Branchburg, L.L.C.

    NJ

K. Hovnanian at Bridgewater I, L.L.C.

    NJ

K. Hovnanian at Cedar Grove III, L.L.C.

    NJ

K. Hovnanian at Cedar Grove V, L.L.C.

    NJ

K. Hovnanian at Chesterfield, L.L.C.

    NJ

K. Hovnanian at Clifton, L.L.C.

    NJ

K. Hovnanian at Cranbury, L.L.C.

    NJ

K. Hovnanian at Denville, L.L.C.

    NJ

K. Hovnanian at Deptford Township, L.L.C.

    NJ

K. Hovnanian at Edgewater II, L.L.C.

    NJ

K. Hovnanian at Edgewater, L.L.C.

    NJ

K. Hovnanian at Egg Harbor Township II, L.L.C.

    NJ

K. Hovnanian at Egg Harbor Township, L.L.C.

    NJ

K. Hovnanian at Fifth Avenue, L.L.C.

    NJ

K. Hovnanian at Florence I, L.L.C.

    NJ

K. Hovnanian at Florence II, L.L.C.

    NJ

K. Hovnanian at Forest Meadows, L.L.C.

    NJ

K. Hovnanian at Franklin, L.L.C.

    NJ

K. Hovnanian at Franklin II, L.L.C.

    NJ

K. Hovnanian at Franklin III, L.L.C.

    NJ

K. Hovnanian at Freehold Township, L.L.C.

    NJ

K. Hovnanian at Great Notch, L.L.C.

    NJ

K. Hovnanian at Guttenberg, L.L.C.

    NJ

K. Hovnanian at Hackettstown II, L.L.C.

    NJ

K. Hovnanian at Hamburg, L.L.C.

    NJ

K. Hovnanian at Hawthorne, L.L.C.

    NJ

K. Hovnanian at Howell, LLC

    NJ

K. HOVNANIAN AT HUDSON POINTE, L.L.C.

    NJ

K. Hovnanian at Jackson I, L.L.C.

    NJ

K. Hovnanian at Jackson, L.L.C.

    NJ

K. Hovnanian at Jersey City IV, L.L.C.

    NJ

K. Hovnanian at Jersey City V Urban Renewal Company, L.L.C.

    NJ

K. Hovnanian at Keyport, L.L.C.

    NJ

K. Hovnanian at Little Egg Harbor Township II, L.L.C.

    NJ

K. Hovnanian at Little Egg Harbor, L.L.C.

    NJ

K. Hovnanian at Long Hill, L.L.C.

    NJ

K. Hovnanian at Mahwah VI, Inc.

    NJ

K. Hovnanian at Manalapan III, L.L.C.

    NJ

K. Hovnanian at Mansfield III, L.L.C.

    NJ

K. Hovnanian at Maple Avenue, L.L.C.

    NJ

K. Hovnanian at Marlboro Township IX, L.L.C.

    NJ

K. Hovnanian at Marlboro Township V, L.L.C.

    NJ

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian at Marlboro Township VIII, L.L.C.

    NJ

K. Hovnanian at Marlboro VI, L.L.C.

    NJ

K. Hovnanian at Marlboro VII, L.L.C.

    NJ

K. Hovnanian at Mendham Township, L.L.C.

    NJ

K. Hovnanian at Middle Township II, L.L.C.

    NJ

K. Hovnanian at Middle Township, L.L.C.

    NJ

K. Hovnanian at Middletown II, L.L.C.

    NJ

K. Hovnanian at Middletown III, LLC

    NJ

K. Hovnanian at Millville II, L.L.C.

    NJ

K. Hovnanian at Millville I, L.L.C.

    NJ

K. Hovnanian at Monroe IV, L.L.C.

    NJ

K. Hovnanian at Monroe NJ, L.L.C.

    NJ

K. Hovnanian at Monroe NJ II, LLC

    NJ

K. Hovnanian at Montgomery, LLC

    NJ

K. Hovnanian at Montvale II, LLC

    NJ

K. Hovnanian at Montvale, L.L.C.

    NJ

K. Hovnanian at North Bergen. L.L.C.

    NJ

K. Hovnanian at North Caldwell II, L.L.C.

    NJ

K. Hovnanian at North Caldwell III, L.L.C.

    NJ

K. Hovnanian at North Caldwell IV, L.L.C.

    NJ

K. Hovnanian at North Haledon, L.L.C.

    NJ

K. Hovnanian at North Wildwood, L.L.C.

    NJ

K. Hovnanian at Northfield, L.L.C.

    NJ

K. Hovnanian at Ocean Township, Inc.

    NJ

K. Hovnanian at Oceanport, L.L.C.

    NJ

K. Hovnanian at Old Bridge, L.L.C.

    NJ

K. Hovnanian at Parsippany, L.L.C.

    NJ

K. Hovnanian at Parsippany-Troy Hills, L.L.C.

    NJ

K. Hovnanian at Pittsgrove, L.L.C.

    NJ

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C.

    NJ

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.

    NJ

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C.

    NJ

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C.

    NJ

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.

    NJ

K. Hovnanian at Randolph I, L.L.C.

    NJ

K. Hovnanian at Ridgemont, L.L.C.

    NJ

K. Hovnanian at Sayreville, L.L.C.

    NJ

K. Hovnanian at Scotch Plains, L.L.C.

    NJ

K. Hovnanian at Shrewsbury, LLC

    NJ

K. Hovnanian at Smithville, Inc.

    NJ

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian at Somers Point, L.L.C.

    NJ

K. Hovnanian at South Brunswick, L.L.C.

    NJ

K. Hovnanian at South Brunswick II, LLC

    NJ

K. Hovnanian at Station Square, L.L.C.

    NJ

K. Hovnanian at The Monarch, L.L.C.

    NJ

K. Hovnanian at Upper Freehold Township II, L.L.C.

    NJ

K. Hovnanian at Upper Freehold Township III, L.L.C.

    NJ

K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C.

    NJ

K. HOVNANIAN AT VINELAND, L.L.C.

    NJ

K. Hovnanian at Waldwick, LLC

    NJ

K. Hovnanian at Warren Township, L.L.C.

    NJ

K. Hovnanian at Washington, L.L.C.

    NJ

K. Hovnanian at Wayne IX, L.L.C.

    NJ

K. Hovnanian at Wildwood Bayside, L.L.C.

    NJ

K. Hovnanian at Woolwich I, L.L.C.

    NJ

K. Hovnanian Classics, L.L.C.

    NJ

K. Hovnanian Construction II, Inc

    NJ

K. Hovnanian Construction III, Inc

    NJ

K. Hovnanian Construction Management, Inc.

    NJ

K. Hovnanian Holdings NJ, L.L.C.

    NJ

K. Hovnanian Manalapan Acquisition, LLC

    NJ

K. Hovnanian Northeast Services, L.L.C.

    NJ

K. Hovnanian Port Imperial Urban Renewal, Inc.

    NJ

K. Hovnanian Properties of Red Bank, Inc.

    NJ

K. Hovnanian Southern New Jersey, L.L.C.

    NJ

K. Hovnanian Venture I, L.L.C.

    NJ

KHIP, L.L.C.

    NJ

LANDARAMA, INC.

    NJ

M&M at Chesterfield, LLC

    NJ

M&M AT Crescent Court, L.L.C.

    NJ

M&M at West Orange, L.L.C.

    NJ

M&M at Wheatena Urban Renewal, L.L.C.

    NJ

Matzel & Mumford at Egg Harbor, L.L.C.

    NJ

Matzel & Mumford at South Bound Brook Urban Renewal, L.L.C.

    NJ

MCNJ, Inc.

    NJ

MMIP, L.L.C.

    NJ

Terrapin Realty, L.L.C.

    NJ

The Matzel & Mumford Organization, Inc

    NJ

K. Hovnanian Aberdeen, LLC

    OH

K. Hovnanian Developments of Ohio, Inc.

    OH

K. Hovnanian Edgebrook, LLC

    OH

K. Hovnanian Hidden Hollow, LLC

    OH

K. Hovnanian Indian Trails, LLC

    OH

K. Hovnanian LaDue Reserve, LLC

    OH

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian Monarch Grove, LLC

    OH

K. Hovnanian Ohio Realty, L.L.C.

    OH

K. HOVNANIAN OSTER HOMES, L.L.C.

    OH

K. Hovnanian Rivendale, LLC

    OH

K. Hovnanian Schady Reserve, LLC

    OH

K. Hovnanian Summit Homes, L.L.C.

    OH

K. Hovnanian Waterbury, LLC

    OH

K. Hovnanian White Road, LLC

    OH

K. Hovnanian Woodland Pointe, LLC

    OH

MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.

    OH

Builder Services PA, L.L.C.

    PA

Governor’s Abstract Co., Inc.

    PA

K. Hovnanian at Allentown, L.L.C.

    PA

K. HOVNANIAN AT CAMP HILL, L.L.C.

    PA

K. Hovnanian at Chadds Ford, LLC

    PA

K. Hovnanian at East Brandywine, L.L.C.

    PA

K. Hovnanian at Hershey’s Mill, Inc.

    PA

K. Hovnanian at Lower Macungie Township I, L.L.C.

    PA

K. Hovnanian at Lower Macungie Township II, L.L.C.

    PA

K. Hovnanian at Lower Makefield Township I, L.L.C.

    PA

K. Hovnanian at Lower Moreland I, L.L.C.

    PA

K. Hovnanian at Lower Moreland II, L.L.C.

    PA

K. Hovnanian at Middletown, LLC

    PA

K. Hovnanian at Northampton, L.L.C.

    PA

K. HOVNANIAN AT RAPHO, L.L.C.

    PA

K. Hovnanian at Sawmill, Inc.

    PA

K. Hovnanian at Silver Spring, L.L.C.

    PA

K. Hovnanian at Thornbury, Inc.

    PA

K. Hovnanian at Upper Makefield I, Inc.

    PA

K. Hovnanian at Upper Providence, LLC

    PA

K. Hovnanian at Upper Uwchlan II, L.L.C.

    PA

K. Hovnanian at Upper Uwchlan, L.L.C.

    PA

K. Hovnanian Companies of Pennsylvania, Inc.

    PA

K. Hovnanian Developments of Pennsylvania, Inc.

    PA

K. Hovnanian Eastern Pennsylvania, L.L.C.

    PA

K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.

    PA

K. Hovnanian PA Real Estate, Inc.

    PA

K. Hovnanian Pennsylvania Acquisitions, L.L.C.

    PA

K. Hovnanian Summit Homes of Pennsylvania, L.L.C.

    PA

Midwest Building Products & Contractor Services of Pennsylvania, L.L.C.

    PA

K. Hovnanian CraftBuilt Homes of South Carolina, L.L.C.

    SC

K. Hovnanian Developments of South Carolina, Inc.

    SC

Guarantor

   

Jurisdiction of
Incorporation or
Organization

K. Hovnanian Four Seasons at Gold Hill, LLC

    SC

K. Hovnanian Homes at St. James Place, LLC

    SC

K. Hovnanian Homes at The Paddocks, LLC

    SC

K. Hovnanian Homes of South Carolina, LLC

    SC

K. Hovnanian at Developments of Texas, Inc.

    TX

K. Hovnanian DFW Belmont, LLC

    TX

K. Hovnanian DFW Ridgeview, LLC

    TX

K. Hovnanian Homes — DFW, L.L.C.

    TX

K. Hovnanian Homes at Cameron Station, LLC

    TX

K. Hovnanian Homes of Houston, L.L.C.

    TX

K. Hovnanian of Houston II, L.L.C.

    TX

Park Title Company, LLC

    TX

Dulles Coppermine, L.L.C.

    VA

Founders Title Agency, Inc.

    VA

K. Hovnanian at Lake Ridge Estates, LLC

    VA

K. Hovnanian at Lake Terrapin, L.L.C.

    VA

K. Hovnanian at Lee Square L.L.C.

    VA

K. Hovnanian at Lenah Woods, LLC

    VA

K. Hovnanian at Reserves at Wheatland, LLC

    VA

K. Hovnanian at Seasons Landing, LLC

    VA

K. Hovnanian Developments of Virginia, Inc.

    VA

K. Hovnanian Four Seasons @ Historical Virginia, LLC

    VA

K. Hovnanian Homes of Virginia, L.L.C.

    VA

K. Hovnanian Summit Holdings, L.L.C.

    VA

K. Hovnanian’s Four Seasons at Charlottesville, L.L.C.

    VA

K. Hovnanian’s Four Seasons at New Kent Vineyards, L.L.C.

    VA

K. Hovnanian at Huntfield, LLC

    WV

K. Hovnanian Developments of West Virginia, Inc.

    WV

K. Hovnanian Homes of West Virginia, L.L.C.

    WV

K. Hovnanian Summit Homes of West Virginia, L.L.C.

    WV

Midwest Building Products & Contractor Services of West Virginia, L.L.C.

    WV
 EX-5.4 5 d597821dex54.htm EX-5.4 EX-5.4

Exhibit 5.4

[Hovnanian Enterprises, Inc. Letterhead]

September 16, 2013

Hovnanian Enterprises, Inc.

110 West Front Street

P.O. Box 500

Red Bank, New Jersey 07701

K. Hovnanian Enterprises, Inc.

110 West Front Street

P.O. Box 500

Red Bank, New Jersey 07701

Ladies and Gentlemen:

I am Vice President and Corporate Counsel of Hovnanian Enterprises, Inc., a Delaware corporation (“Hovnanian”), K. Hovnanian Enterprises, Inc., a California corporation and a wholly-owned subsidiary of Hovnanian (“K. Hovnanian”) and certain other subsidiaries of Hovnanian (the “Subsidiary Registrants”). Hovnanian, K. Hovnanian and the Subsidiary Registrants have filed a Registration Statement on Form S-3 (File No. 333-189802) (the “Registration Statement”) with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to which K. Hovnanian has issued $41,581,000 aggregate principal amount of 6.25% Senior Notes due 2016 (the “Notes”), unconditionally guaranteed (each a “Guarantee,” and collectively, the “Guarantees”) on a senior unsecured basis by Hovnanian and the Subsidiary Registrants (together, in such capacity, the “Guarantors”), pursuant to the Underwriting Agreement dated September 11, 2013, among K. Hovnanian, the Guarantors and the underwriter named therein (the “Underwriting Agreement”).

I have examined the Registration Statement as it became effective under the Securities Act; K. Hovnanian’s and the Guarantors’ prospectus dated August 23, 2013 (the “Base Prospectus”), as supplemented by the prospectus supplement dated September 11, 2013 (together with the Base Prospectus, the “Prospectus”), filed by K. Hovnanian and the Guarantors pursuant to Rule 424(b) of the rules and regulations of the Commission under the Securities Act; the Indenture dated as of August 8, 2005 (the “Base Indenture”), among K. Hovnanian, Hovnanian, the other Guarantors party thereto and Deutsche Bank National Trust Company, as successor trustee (the “Trustee”); the Eleventh Supplemental Indenture dated as of September 16, 2013 (the “Supplemental Indenture” and, together with the Base Indenture and as otherwise amended or supplemented as of the date hereof, the “Indenture”) among K. Hovnanian, Hovnanian, the other Guarantors and the Trustee; a duplicate of the global note representing the Notes; a duplicate of the Guarantees annexed to the Notes; and the Underwriting Agreement. I also have examined the originals, or duplicates or certified or conformed copies, of such records, agreements, documents and other instruments and have made such other investigations as I have deemed relevant and necessary in connection with the opinions hereinafter set forth. As to questions of fact material to this opinion, I have relied upon certificates or comparable documents or statements of public officials and of officers and representatives of Hovnanian and K. Hovnanian.

In rendering the opinions set forth below, I have assumed the genuineness of all signatures, the legal capacity of natural persons, the authenticity of all documents submitted to me as originals, the conformity to original documents of all documents submitted to me as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents. I also have assumed that the Indenture is the valid and legally binding obligation of the Trustee.

 

2

Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, I am of the opinion that:

 

  1. Hovnanian, K. Hovnanian and each of the Subsidiary Registrants has been duly incorporated or formed, as the case may be, is validly existing as a corporation or limited liability company in good standing under the laws of its jurisdiction of incorporation or formation and has the corporate power, or its equivalent in the case of limited liability companies, and authority to carry on its business as described in the Prospectus and to own, lease and operate its properties.

 

  2. The Notes have been duly authorized, executed and issued by K. Hovnanian.

 

  3. The Guarantees have been duly authorized, executed and issued by the Guarantors listed on Schedule I hereto (the “Schedule I Guarantors”).

 

  4. The execution and issuance of the Notes by K. Hovnanian and the execution and issuance of the Guarantees by the Guarantors will not (A) require any consent, approval, authorization order, registration or qualification of or with any court or governmental body or agency, (B) conflict with or constitute a breach of any of the terms or provisions of, or a default under, the charter, or by-laws or formation or organization documents, as applicable, of K. Hovnanain or any of the Schedule I Guarantors or (C) violate or conflict with any applicable law or any rule, regulation, judgment, order or decree of any court or any governmental body or agency having jurisdiction over the K. Hovnanian, the Schedule I Guarantors or their respective property.

I do not express any opinion herein concerning any law other than the applicable corporate or limited liability company law for the jurisdiction of organization of K. Hovnanian and each Guarantor (including the statutory provisions and reported judicial decisions interpreting the foregoing), as the case may be.

I hereby consent to the filing of this opinion letter as Exhibit 5.4 to the Current Report on Form 8-K of Hovnanian filed with the Commission in connection with the closing of the offering of the Notes and to the use of my name under the caption “Legal Matters” in the Prospectus.

 

Very truly yours,
/s/ Michael Discafani

Michael Discafani

Vice President and Corporate Counsel

 

3

Schedule I

 

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.    AZ
K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC    AZ
K. HOVNANIAN GREAT WESTERN HOMES, LLC    AZ
New Land Title Agency, L.L.C.    AZ
K. HOV IP, II, Inc.    CA
K. HOV IP, INC.    CA
K. Hovnanian at 4S, LLC    CA
K. Hovnanian at Acqua Vista, LLC    CA
K. Hovnanian at Aliso, LLC    CA
K. Hovnanian at Andalusia, LLC    CA
K. Hovnanian at Arbor Heights, LLC    CA
K. HOVNANIAN AT AVENUE ONE, L.L.C.    CA
K. Hovnanian at Bakersfield 463, L.L.C.    CA
K. Hovnanian at Bella Lago, LLC    CA
K. Hovnanian at Bridgeport, Inc.    CA
K. HOVNANIAN AT CAPISTRANO, L.L.C.    CA
K. Hovnanian at Carlsbad, LLC    CA
K. Hovnanian at Charter Way, LLC    CA
K. Hovnanian at Cielo, L.L.C.    CA
K. Hovnanian at Coastline, L.L.C.    CA
K. Hovnanian at Cortez Hill, LLC    CA
K. Hovnanian at Dominguez Hills, Inc.    CA
K. Hovnanian at Eastlake, LLC    CA
K. Hovnanian at El Dorado Ranch II, L.L.C.    CA
K. Hovnanian at El Dorado Ranch, L.L.C.    CA
K. Hovnanian at Encinitas Ranch, LLC    CA
K. Hovnanian at Evergreen, L.L.C.    CA
K. Hovnanian at Fiddyment Ranch, LLC    CA
K. Hovnanian at Fresno, LLC    CA
K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.    CA
K. Hovnanian at Gilroy, LLC    CA
K. Hovnanian at Gilroy 60, LLC    CA
K. Hovnanian at Jaeger Ranch, LLC    CA
K. Hovnanian at La Costa Greens, L.L.C.    CA
K. Hovnanian at La Costa, LLC    CA
K. Hovnanian at La Habra Knolls, LLC    CA
K. Hovnanian at La Laguna, L.L.C.    CA
K. Hovnanian at Lake Rancho Viejo, LLC    CA
K. Hovnanian at Malan Park, L.L.C.    CA
K. Hovnanian at Manteca, LLC    CA
K. Hovnanian at Melanie Meadows, LLC    CA

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian at Menifee, LLC    CA
K. Hovnanian at Mosaic, LLC    CA
K. Hovnanian at Muirfield, LLC    CA
K. HOVNANIAN AT OCEAN WALK, INC.    CA
K. Hovnanian at Olde Orchard, LLC    CA
K. Hovnanian at Park Lane, LLC    CA
K. Hovnanian at Parkside, LLC    CA
K. Hovnanian at Pavillion Park, LLC    CA
K. Hovnanian at Piazza D’Oro, L.L.C.    CA
K. Hovnanian at Piazza Serena, L.L.C.    CA
K. Hovnanian at Positano, LLC    CA
K. Hovnanian at Prado, L.L.C.    CA
K. Hovnanian at Rancho Santa Margarita, LLC    CA
K. Hovnanian at Riverbend, LLC    CA
K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.    CA
K. Hovnanian at Sage, L.L.C.    CA
K. Hovnanian at Santa Nella, LLC    CA
K. Hovnanian at Sheldon Grove, LLC    CA
K. Hovnanian at Skye Isle, LLC    CA
K. Hovnanian at Stanton, LLC    CA
K. Hovnanian at Sunridge Park, LLC    CA
K. Hovnanian at Sycamore, Inc.    CA
K. Hovnanian at The Crosby, LLC    CA
K. Hovnanian at The Gables, LLC    CA
K. Hovnanian at The Preserve, LLC    CA
K. Hovnanian at Thompson Ranch, LLC    CA
K. Hovnanian at Trail Ridge, LLC    CA
K. Hovnanian at Valle Del Sol, LLC    CA
K. Hovnanian at Verona Estates, LLC    CA
K. Hovnanian at Victorville, L.L.C.    CA
K. Hovnanian at Vista Del Sol, L.L.C.    CA
K. Hovnanian at Waterstone, LLC    CA
K. Hovnanian at West View Estates, L.L.C.    CA
K. Hovnanian at Westshore, LLC    CA
K. Hovnanian at Wheeler Ranch, LLC    CA
K. HOVNANIAN AT WINCHESTER, LLC    CA
K. Hovnanian at Woodcreek West, LLC    CA
K. Hovnanian Communities, Inc.    CA
K. Hovnanian Companies of California, Inc.    CA
K. Hovnanian Companies of Southern California, Inc.    CA
K. Hovnanian Companies, LLC    CA
K. Hovnanian Developments of California, Inc.    CA
K. Hovnanian Developments of New Jersey II, Inc.    CA

 

5

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian Developments of New Jersey, Inc.    CA
K. Hovnanian Homes Northern California, Inc.    CA
K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C.    CA
K. Hovnanian’s Four Seasons at Beaumont, LLC    CA
K. Hovnanian’s Four Seasons at Hemet, LLC    CA
K. Hovnanian’s Four Seasons at Los Banos, LLC    CA
K. Hovnanian’s Four Seasons at Moreno Valley, L.L.C.    CA
K. Hovnanian’s Four Seasons at Palm Springs, LLC    CA
K. Hovnanian’s Four Seasons, LLC    CA
K. Hovnanian’s Parkside at Towngate, L.L.C.    CA
SEABROOK ACCUMULATION CORPORATION    CA
STONEBROOK HOMES, INC.    CA
K. HOVNANIAN DEVELOPMENTS OF D.C., INC.    DC
K. Hovnanian Homes of D.C., L.L.C.    DC
Eastern National Title Agency, LLC    FL
HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.    FL
HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.    FL
K. Hovnanian at Duval Pointe, LLC    FL
K. Hovnanian at Lake Burden, LLC    FL
K. Hovnanian Cambridge Homes, L.L.C.    FL
K. HOVNANIAN FIRST HOMES, L.L.C.    FL
K. Hovnanian Florida Realty, L.L.C.    FL
K. Hovnanian at Grand Cypress, LLC    FL
K. Hovnanian South Fork, LLC    FL
K. Hovnanian Sterling Ranch, LLC    FL
K. Hovnanian T&C Homes at Florida, L.L.C.    FL
K. HOVNANIAN WINDWARD HOMES, LLC    FL
K. Hovnanian Developments of Georgia, Inc.    GA
K. Hovnanian Homes at Creekside, LLC    GA
K. Hovnanian Homes of Georgia, L.L.C.    GA
Arbor Trails, LLC    IL
Glenrise Grove, L.L.C.    IL
K. Hovnanian Developments of Illinois, Inc.    IL
K. Hovnanian Estates at Regency, L.L.C.    IL
K. Hovnanian T&C Homes at Illinois, L.L.C.    IL
K. Hovnanian Developments of Kentucky, Inc.    KY
K. Hovnanian Summit Homes of Kentucky, L.L.C.    KY
Founders Title Agency of Maryland, L.L.C.    MD
Homebuyers Financial Services, L.L.C.    MD
Hovnanian Land Investment Group of Maryland, L.L.C.    MD
Hovnanian Land Investment Group, L.L.C.    MD

 

6

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian at Roderuck, L.L.C.    MD
K. Hovnanian at Willow Brook, L.L.C.    MD
K. HOVNANIAN COMPANIES OF MARYLAND, INC.    MD
K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.    MD
K. Hovnanian Homes at Camp Springs, L.L.C.    MD
K. Hovnanian Homes at Fairwood, L.L.C.    MD
K. Hovnanian Homes at Forest Run, L.L.C.    MD
K. Hovnanian Homes at Greenway Farm Park Towns, L.L.C.    MD
K. Hovnanian Homes at Greenway Farm, L.L.C.    MD
K. Hovnanian Homes at Jones Station 1, L.L.C.    MD
K. Hovnanian Homes at Maxwell Place, L.L.C.    MD
K. Hovnanian Homes at Renaissance Plaza, L.L.C.    MD
K. Hovnanian Homes at Russett, L.L.C.    MD
K. Hovnanian Homes at the Highlands, LLC    MD
K. Hovnanian Homes of Maryland, L.L.C.    MD
K. Hovnanian’s Four Seasons at Kent Island Condominiums, L.L.C.    MD
K. Hovnanian’s Four Seasons at Kent Island, L.L.C.    MD
K. Hovnanian’s Four Seasons at St. Margarets Landing, L.L.C.    MD
PADDOCKS, L.L.C.    MD
Pine Ayr, LLC    MD
Ridgemore Utility, L.L.C.    MD
Washington Homes at Columbia Town Center, L.L.C.    MD
WH PROPERTIES, INC.    MD
Woodland Lake Condominiums at Bowie New Town, L.L.C.    MD
K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.    MN
K. Hovnanian Developments of Minnesota, Inc.    MN
K. Hovnanian Homes of Minnesota, L.L.C.    MN
K. Hovnanian Liberty on Bluff Creek, LLC    MN
K. Hovnanian Timbres at Elm Creek, LLC    MN
K. Hovnanian’s Four Seasons at Rush Creek II, LLC    MN
K. Hovnanian’s Four Seasons at Rush Creek, L.L.C.    MN
K. Hovnanian Developments of North Carolina, Inc.    NC
K. Hovnanian Homes at Reedy Creek, LLC    NC
K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.    NC
K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.    NC
WESTMINSTER HOMES, INC.    NC
Auddie Enterprises, L.L.C.    NJ
Builder Services NJ, L.L.C.    NJ
EASTERN TITLE AGENCY, INC.    NJ
F&W MECHANICAL SERVICES, L.L.C.    NJ
K. Hovnanian Acquisitions, Inc.    NJ

 

7

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian at Barnegat I, L.L.C.    NJ
K. Hovnanian at Barnegat II, L.L.C.    NJ
K. Hovnanian at Berkeley, L.L.C.    NJ
K. Hovnanian at Blue Heron Pines, L.L.C.    NJ
K. Hovnanian at Branchburg, L.L.C.    NJ
K. Hovnanian at Bridgewater I, L.L.C.    NJ
K. Hovnanian at Cedar Grove III, L.L.C.    NJ
K. Hovnanian at Cedar Grove V, L.L.C.    NJ
K. Hovnanian at Chesterfield, L.L.C.    NJ
K. Hovnanian at Clifton, L.L.C.    NJ
K. Hovnanian at Cranbury, L.L.C.    NJ
K. Hovnanian at Denville, L.L.C.    NJ
K. Hovnanian at Deptford Township, L.L.C.    NJ
K. Hovnanian at Edgewater II, L.L.C.    NJ
K. Hovnanian at Edgewater, L.L.C.    NJ
K. Hovnanian at Egg Harbor Township II, L.L.C.    NJ
K. Hovnanian at Egg Harbor Township, L.L.C.    NJ
K. Hovnanian at Fifth Avenue, L.L.C.    NJ
K. Hovnanian at Florence I, L.L.C.    NJ
K. Hovnanian at Florence II, L.L.C.    NJ
K. Hovnanian at Forest Meadows, L.L.C.    NJ
K. Hovnanian at Franklin, L.L.C.    NJ
K. Hovnanian at Franklin II, L.L.C.    NJ
K. Hovnanian at Franklin III, L.L.C.    NJ
K. Hovnanian at Freehold Township, L.L.C.    NJ
K. Hovnanian at Great Notch, L.L.C.    NJ
K. Hovnanian at Guttenberg, L.L.C.    NJ
K. Hovnanian at Hackettstown II, L.L.C.    NJ
K. Hovnanian at Hamburg, L.L.C.    NJ
K. Hovnanian at Hawthorne, L.L.C.    NJ
K. Hovnanian at Howell, LLC    NJ
K. HOVNANIAN AT HUDSON POINTE, L.L.C.    NJ
K. Hovnanian at Jackson I, L.L.C.    NJ
K. Hovnanian at Jackson, L.L.C.    NJ
K. Hovnanian at Jersey City IV, L.L.C.    NJ
K. Hovnanian at Jersey City V Urban Renewal Company, L.L.C.    NJ
K. Hovnanian at Keyport, L.L.C.    NJ
K. Hovnanian at Little Egg Harbor Township II, L.L.C.    NJ
K. Hovnanian at Little Egg Harbor, L.L.C.    NJ
K. Hovnanian at Long Hill, L.L.C.    NJ
K. Hovnanian at Mahwah VI, Inc.    NJ
K. Hovnanian at Manalapan III, L.L.C.    NJ
K. Hovnanian at Mansfield III, L.L.C.    NJ

 

8

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian at Maple Avenue, L.L.C.    NJ
K. Hovnanian at Marlboro Township IX, L.L.C.    NJ
K. Hovnanian at Marlboro Township V, L.L.C.    NJ
K. Hovnanian at Marlboro Township VIII, L.L.C.    NJ
K. Hovnanian at Marlboro VI, L.L.C.    NJ
K. Hovnanian at Marlboro VII, L.L.C.    NJ
K. Hovnanian at Mendham Township, L.L.C.    NJ
K. Hovnanian at Middle Township II, L.L.C.    NJ
K. Hovnanian at Middle Township, L.L.C.    NJ
K. Hovnanian at Middletown II, L.L.C.    NJ
K. Hovnanian at Middletown III, LLC    NJ
K. Hovnanian at Millville II, L.L.C.    NJ
K. Hovnanian at Millville I, L.L.C.    NJ
K. Hovnanian at Monroe IV, L.L.C.    NJ
K. Hovnanian at Monroe NJ, L.L.C.    NJ
K. Hovnanian at Monroe NJ II, LLC    NJ
K. Hovnanian at Montgomery, LLC    NJ
K. Hovnanian at Montvale II, LLC    NJ
K. Hovnanian at Montvale, L.L.C.    NJ
K. Hovnanian at North Bergen. L.L.C.    NJ
K. Hovnanian at North Caldwell II, L.L.C.    NJ
K. Hovnanian at North Caldwell III, L.L.C.    NJ
K. Hovnanian at North Caldwell IV, L.L.C.    NJ
K. Hovnanian at North Haledon, L.L.C.    NJ
K. Hovnanian at North Wildwood, L.L.C.    NJ
K. Hovnanian at Northfield, L.L.C.    NJ
K. Hovnanian at Ocean Township, Inc.    NJ
K. Hovnanian at Oceanport, L.L.C.    NJ
K. Hovnanian at Old Bridge, L.L.C.    NJ
K. Hovnanian at Parsippany, L.L.C.    NJ
K. Hovnanian at Parsippany-Troy Hills, L.L.C.    NJ
K. Hovnanian at Pittsgrove, L.L.C.    NJ
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C.    NJ
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.    NJ
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C.    NJ
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C.    NJ
K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.    NJ
K. Hovnanian at Randolph I, L.L.C.    NJ

 

9

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian at Ridgemont, L.L.C.    NJ
K. Hovnanian at Sayreville, L.L.C.    NJ
K. Hovnanian at Scotch Plains, L.L.C.    NJ
K. Hovnanian at Shrewsbury, LLC    NJ
K. Hovnanian at Smithville, Inc.    NJ
K. Hovnanian at Somers Point, L.L.C.    NJ
K. Hovnanian at South Brunswick, L.L.C.    NJ
K. Hovnanian at South Brunswick II, LLC    NJ
K. Hovnanian at Station Square, L.L.C.    NJ
K. Hovnanian at The Monarch, L.L.C.    NJ
K. Hovnanian at Upper Freehold Township II, L.L.C.    NJ
K. Hovnanian at Upper Freehold Township III, L.L.C.    NJ
K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C.    NJ
K. HOVNANIAN AT VINELAND, L.L.C.    NJ
K. Hovnanian at Waldwick, LLC    NJ
K. Hovnanian at Warren Township, L.L.C.    NJ
K. Hovnanian at Washington, L.L.C.    NJ
K. Hovnanian at Wayne IX, L.L.C.    NJ
K. Hovnanian at Wildwood Bayside, L.L.C.    NJ
K. Hovnanian at Woolwich I, L.L.C.    NJ
K. Hovnanian Classics, L.L.C.    NJ
K. Hovnanian Construction II, Inc    NJ
K. Hovnanian Construction III, Inc    NJ
K. Hovnanian Construction Management, Inc.    NJ
K. Hovnanian Holdings NJ, L.L.C.    NJ
K. Hovnanian Manalapan Acquisition, LLC    NJ
K. Hovnanian Northeast Services, L.L.C.    NJ
K. Hovnanian Port Imperial Urban Renewal, Inc.    NJ
K. Hovnanian Properties of Red Bank, Inc.    NJ
K. Hovnanian Southern New Jersey, L.L.C.    NJ
K. Hovnanian Venture I, L.L.C.    NJ
KHIP, L.L.C.    NJ
LANDARAMA, INC.    NJ
M&M at Chesterfield, LLC    NJ
M&M AT Crescent Court, L.L.C.    NJ
M&M at West Orange, L.L.C.    NJ
M&M at Wheatena Urban Renewal, L.L.C.    NJ
Matzel & Mumford at Egg Harbor, L.L.C.    NJ
Matzel & Mumford at South Bound Brook Urban Renewal, L.L.C.    NJ
MCNJ, Inc.    NJ
MMIP, L.L.C.    NJ
Terrapin Realty, L.L.C.    NJ
The Matzel & Mumford Organization, Inc    NJ

 

10

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian Aberdeen, LLC    OH
K. Hovnanian Developments of Ohio, Inc.    OH
K. Hovnanian Edgebrook, LLC    OH
K. Hovnanian Hidden Hollow, LLC    OH
K. Hovnanian Indian Trails, LLC    OH
K. Hovnanian LaDue Reserve, LLC    OH
K. Hovnanian Monarch Grove, LLC    OH
K. Hovnanian Ohio Realty, L.L.C.    OH
K. HOVNANIAN OSTER HOMES, L.L.C.    OH
K. Hovnanian Rivendale, LLC    OH
K. Hovnanian Schady Reserve, LLC    OH
K. Hovnanian Summit Homes, L.L.C.    OH
K. Hovnanian Waterbury, LLC    OH
K. Hovnanian White Road, LLC    OH
K. Hovnanian Woodland Pointe, LLC    OH
MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.    OH
Builder Services PA, L.L.C.    PA
Governor’s Abstract Co., Inc.    PA
K. Hovnanian at Allentown, L.L.C.    PA
K. HOVNANIAN AT CAMP HILL, L.L.C.    PA
K. Hovnanian at Chadds Ford, LLC    PA
K. Hovnanian at East Brandywine, L.L.C.    PA
K. Hovnanian at Hershey’s Mill, Inc.    PA
K. Hovnanian at Lower Macungie Township I, L.L.C.    PA
K. Hovnanian at Lower Macungie Township II, L.L.C.    PA
K. Hovnanian at Lower Makefield Township I, L.L.C.    PA
K. Hovnanian at Lower Moreland I, L.L.C.    PA
K. Hovnanian at Lower Moreland II, L.L.C.    PA
K. Hovnanian at Middletown, LLC    PA
K. Hovnanian at Northampton, L.L.C.    PA
K. HOVNANIAN AT RAPHO, L.L.C.    PA
K. Hovnanian at Sawmill, Inc.    PA
K. Hovnanian at Silver Spring, L.L.C.    PA
K. Hovnanian at Thornbury, Inc.    PA
K. Hovnanian at Upper Makefield I, Inc.    PA
K. Hovnanian at Upper Providence, LLC    PA
K. Hovnanian at Upper Uwchlan II, L.L.C.    PA
K. Hovnanian at Upper Uwchlan, L.L.C.    PA
K. Hovnanian Companies of Pennsylvania, Inc.    PA
K. Hovnanian Developments of Pennsylvania, Inc.    PA
K. Hovnanian Eastern Pennsylvania, L.L.C.    PA
K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.    PA

 

11

Guarantor

   

Jurisdiction of

Incorporation or

Organization

K. Hovnanian PA Real Estate, Inc.    PA
K. Hovnanian Pennsylvania Acquisitions, L.L.C.    PA
K. Hovnanian Summit Homes of Pennsylvania, L.L.C.    PA
Midwest Building Products & Contractor Services of Pennsylvania, L.L.C.    PA
K. Hovnanian CraftBuilt Homes of South Carolina, L.L.C.    SC
K. Hovnanian Developments of South Carolina, Inc.    SC
K. Hovnanian Four Seasons at Gold Hill, LLC    SC
K. Hovnanian Homes at St. James Place, LLC    SC
K. Hovnanian Homes at The Paddocks, LLC    SC
K. Hovnanian Homes of South Carolina, LLC    SC
K. Hovnanian at Developments of Texas, Inc.    TX
K. Hovnanian DFW Belmont, LLC    TX
K. Hovnanian DFW Ridgeview, LLC    TX
K. Hovnanian Homes — DFW, L.L.C.    TX
K. Hovnanian Homes at Cameron Station, LLC    TX
K. Hovnanian Homes of Houston, L.L.C.    TX
K. Hovnanian of Houston II, L.L.C.    TX
Park Title Company, LLC    TX
Dulles Coppermine, L.L.C.    VA
Founders Title Agency, Inc.    VA
K. Hovnanian at Lake Ridge Estates, LLC    VA
K. Hovnanian at Lake Terrapin, L.L.C.    VA
K. Hovnanian at Lee Square L.L.C.    VA
K. Hovnanian at Lenah Woods, LLC    VA
K. Hovnanian at Reserves at Wheatland, LLC    VA
K. Hovnanian at Seasons Landing, LLC    VA
K. Hovnanian Developments of Virginia, Inc.    VA
K. Hovnanian Four Seasons @ Historical Virginia, LLC    VA
K. Hovnanian Homes of Virginia, L.L.C.    VA
K. Hovnanian Summit Holdings, L.L.C.    VA
K. Hovnanian’s Four Seasons at Charlottesville, L.L.C.    VA
K. Hovnanian’s Four Seasons at New Kent Vineyards, L.L.C.    VA
K. Hovnanian at Huntfield, LLC    WV
K. Hovnanian Developments of West Virginia, Inc.    WV
K. Hovnanian Homes of West Virginia, L.L.C.    WV
K. Hovnanian Summit Homes of West Virginia, L.L.C.    WV
Midwest Building Products & Contractor Services of West Virginia, L.L.C.    WV

 

12

EX-99.1 6 d597821dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

Information Relating to Part II, Item 14 — Other Expenses of Issuance and Distribution

The expenses in connection with the issuance and distribution by K. Hovnanian Enterprises, Inc. (“K. Hovnanian”), a wholly-owned subsidiary of Hovnanian Enterprises, Inc. (“Hovnanian”) of $41,581,000 aggregate principal amount of 6.25% Senior Notes due 2016, registered pursuant to Hovnanian’s, K. Hovnanian’s and the subsidiary guarantors’ Registration Statement on Form S-3 (File No. 333-189802) filed on August 23, 2013, other than underwriting discounts and commissions, are set forth in the following table. All amounts are estimated except the Securities and Exchange Commission registration fee.

 

Securities and Exchange Commission Registration Fee (1)

    $ 5,672   

Legal fees and expenses

      340,000   

Accounting fees and expenses

      75,000   

Printing and duplicating expenses

      10,000   
  

 

 

  

Total

    $ 430,672   
  

 

 

  

 

(1) Registration fee previously paid in connection with the registration by Hovnanian, K. Hovnanian and the subsidiary guarantors of an indeterminate amount of securities with an aggregate initial offering price not to exceed $481,896,163 or the equivalent thereof in one or more foreign currencies pursuant to the Registration Statement.