EX-5 3 d260336dex5.htm FORM OF OPINION OF SIMPSON THACHER & BARTLETT, NEW YORK, NEW YORK <![CDATA[Form of Opinion of Simpson Thacher & Bartlett, New York, New York]]>

Exhibit 5

SIMPSON THACHER & BARTLETT LLP

425 LEXINGTON AVENUE

NEW YORK, N.Y. 10017-3954

(212) 455-2000

 

 

FACSIMILE (212) 455-2502

 

DIRECT DIAL NUMBER

      E-MAIL ADDRESS

November 23, 2011

Toll Brothers, Inc.

250 Gibraltar Road

Horsham, PA 19044

Ladies and Gentlemen:

We have acted as counsel to Toll Brothers, Inc., a Delaware corporation (the “Company”), Toll Corp., a Delaware corporation, Toll Finance Corp., a Delaware corporation (“TFC”), Toll Brothers Finance Corp., a Delaware corporation (“TBFC”), and First Huntingdon Finance Corp., a Delaware corporation (“FHFC” and, together with Toll Corp., TFC and TBFC, the “Debt Issuers”) and to the subsidiaries of the Company listed on Schedules I and II hereto (collectively, the “Subsidiary Guarantors”) in connection with the Registration Statement on Form S-3 (the “Registration Statement”) filed by the Company, the Debt Issuers and the Subsidiary Guarantors with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), relating to (i) shares of common stock of the Company, $.01 par value per share (the “Common Stock”); (ii) warrants to purchase Common Stock (the “Common Stock Warrants”); (iii) shares of preferred stock of the Company, $.01 par value per share (the “Preferred Stock” and, together with the Common Stock, the “Stock”); (iv) warrants to purchase Preferred Stock (the “Preferred Stock Warrants”); (v) debt securities of the Debt Issuers, which may be either senior (“Senior Debt Securities”) or


subordinated (the “Subordinated Debt Securities”) (collectively, the “Debt Securities”); (vi) warrants to purchase Debt Securities (the “Debt Security Warrants” and together with the Common Stock Warrants and the Preferred Stock Warrants, the “Securities Warrants”); (vii) guarantees of the Company and the Subsidiary Guarantors (collectively, in such capacity, the “Guarantors”) to be issued in connection with the Debt Securities (the “Guarantees”); and (viii) Common Stock, Debt Securities and Guarantees that may be issued upon exercise of Securities Warrants. The Common Stock, the Preferred Stock, the Debt Securities, the Guarantees and the Securities Warrants are hereinafter referred to collectively as the “Securities.” The Securities may be issued and sold or delivered from time to time as set forth in the Registration Statement, any amendment thereto, the prospectus contained therein (the “Prospectus”) and supplements to the Prospectus and pursuant to Rule 415 under the Securities Act.

The Senior Debt Securities and the Guarantees thereof will be issued under an Indenture (the “Senior Indenture”) among the Company, a Debt Issuer, one or more Subsidiary Guarantors, as applicable, and such trustee as shall be named therein (the “Senior Trustee”). The Subordinated Debt Securities and the Guarantees thereof will be issued under an Indenture (the “Subordinated Indenture”) among the Company, a Debt Issuer, one or more Subsidiary Guarantors, as applicable, and such trustee as shall be named therein (the “Subordinated Trustee”). The Senior Indenture and the Subordinated Indenture are hereinafter referred to collectively as the “Indentures.”

The Securities Warrants will be issued under one or more warrant agreements (each, a “Warrant Agreement” and collectively, the “Warrant Agreements”) between the Company or a Debt Issuer and such warrant agent as shall be named therein. Each party to a Warrant

 

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Agreement other than the Company or a Debt Issuer is referred to hereinafter as a “Counterparty.”

We have examined the Registration Statement, a form of the share certificate and the forms of the Indentures, which have been filed with the Commission as exhibits to the Registration Statement. 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 of public officials and of officers and representatives of the Company, the Debt Issuers and the Subsidiary 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 at the time of execution, authentication, issuance and delivery of the applicable Securities, Indenture and Warrant Agreement: (a) each of the Company, the Debt Issuers and the Subsidiary Guarantors (each, a “Securities Party”), as applicable, will be validly existing under the laws of the jurisdiction in which it was organized; (b) the issuance of the Stock and the execution, delivery and performance of the applicable Debt Securities, Indenture, Warrants and Warrant Agreements by each Securities Party, as applicable, will not violate the certificate of incorporation, certificate of formation, certificate of limited partnership, by-laws, limited liability company agreement and partnership agreement, as the case may be, of such Securities Party or the law of the jurisdiction in which such Securities Party is organized or any

 

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other applicable laws; (c) in the case of Debt Securities, the applicable Indenture (i) will have been duly authorized, executed and delivered by the Company, the applicable Debt Issuer and the applicable Subsidiary Guarantors and (ii) will be the valid and legally binding obligation of the trustee thereunder; and (d) in the case of Securities Warrants, the applicable Warrant Agreement (i) will have been duly authorized, executed and delivered by the Company or the applicable Debt Issuer and (ii) will be the valid and legally binding obligation of each Counterparty thereto.

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

1. With respect to the Common Stock, assuming (a) the taking by the Board of Directors of the Company (or a duly constituted and acting committee of such Board of Directors (such Board of Directors or committee, the “Company Board”)) of all necessary corporate action to authorize and approve the issuance of the Common Stock and (b) due issuance and delivery of the Common Stock, upon payment of the consideration therefor in accordance with the applicable definitive purchase, underwriting or similar agreement approved by the Company Board, the Common Stock will be validly issued, fully paid and nonassessable.

2. With respect to the Preferred Stock, assuming (a) the taking by the Company Board of all necessary corporate action to authorize and approve the issuance of the Preferred Stock, (b) due filing of the applicable certificate of designations and (c) due issuance and delivery of the Preferred Stock, upon payment of the consideration therefor in accordance with the applicable definitive purchase, underwriting or similar agreement approved by the Company Board, the Preferred Stock will be validly issued, fully paid and nonassessable.

3. With respect to the Debt Securities, assuming (a) the taking of all necessary corporate action to approve the issuance and terms of any Debt Securities, the terms of the offering thereof and related matters by the Board of Directors of the applicable Debt Issuer, a duly constituted and acting committee of such Board of Directors or duly authorized officers of such Debt Issuer (such Board of Directors, committee or authorized officers being referred to herein as the “Debt Issuer Board”) and (b) the due execution, authentication, issuance and delivery of such Debt Securities, upon payment of the consideration therefor provided for in the applicable definitive purchase, underwriting or similar agreement approved by the applicable Debt Issuer Board and otherwise in accordance with the provisions of the applicable Indenture and such agreement, such Debt Securities will constitute valid and legally binding obligations of such Debt Issuer enforceable against such Debt Issuer in accordance with their terms.

 

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4. With respect to the Guarantees, assuming (a) the taking of all necessary corporate action to approve the issuance and terms of the Guarantees and related matters by the Board of Directors (or a duly constituted and acting committee thereof), managing member, or general partner, as applicable of each Guarantor, or duly authorized officers of each Guarantor (such Board of Directors (or committee thereof), managing member or general partner, as applicable, or authorized officer being referred to as a “Guarantor Authorized Party”), (b) the due execution, authentication, issuance and delivery of the Debt Securities underlying such Guarantees, upon payment of the consideration therefor provided for in the applicable definitive purchase, underwriting or similar agreement approved by the applicable Guarantor Authorizing Party and otherwise in accordance with the provisions of the applicable Indenture and such agreement and (c) the due issuance of such Guarantees, such Guarantees will constitute valid and legally binding obligations of the Guarantors issuing such Guarantees, enforceable against such Guarantors in accordance with their terms.

5. With respect to the Securities Warrants, assuming (a) the taking of all necessary corporate action by the Company Board, in the case of Securities Warrants to purchase Stock, or the applicable Debt Issuer Board, in the case of Securities Warrants to purchase Debt Securities, to approve the execution and delivery of the applicable Warrant Agreement and (b) the due execution, countersignature, issuance and delivery of such Securities Warrants, upon payment of the consideration for such Securities Warrants provided for in the applicable definitive purchase, underwriting or similar agreement approved by the Company Board or the applicable Debt Issuer Board, as the case may be, and otherwise in accordance with the provisions of the applicable Warrant Agreement and such agreement, such Securities Warrants will constitute valid and legally binding obligations of the Company or such Debt Issuer, as applicable, enforceable against the Company or such Debt Issuer in accordance with their terms.

Our opinions set forth in paragraphs 3, 4 and 5 above are subject to the effects of (i) 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.

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, the Delaware General Corporation Law, the Delaware Limited Liability Company Act and the Delaware Revised Uniform Limited Partnership Act.

 

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We hereby consent to the filing of this opinion letter as Exhibit 5 to the Registration Statement and to the use of our name under the caption “Legal Matters” in the Prospectus included in the Registration Statement.

 

Very truly yours,
/s/ Simpson Thacher & Bartlett LLP
SIMPSON THACHER & BARTLETT LLP

 

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Schedule I

Guarantors Incorporated or Formed in Jurisdictions

Other Than the State of New York or the State of Delaware

 

Entity Name

  

Jurisdiction

Toll MN GP Corp.

   Minnesota

Toll NC GP Corp.

   North Carolina

Toll NH GP Corp.

   New Hampshire

SH Homes Corporation

   Michigan

SI Investment Corporation

   Michigan

The Silverman Building Companies, Inc.

   Michigan

Toll Bros. of Arizona, Inc.

   Arizona

Toll Bros. of North Carolina, Inc.

   North Carolina

Toll Bros. of North Carolina II, Inc.

   North Carolina

Toll Bros. of North Carolina III, Inc.

   North Carolina

Toll Bros., Inc.

   Pennsylvania

Toll Bros., Inc.

   Texas

Toll Brothers AZ Construction Company

   Arizona

Toll CO GP Corp.

   Colorado

Toll Development Company, Inc.

   Michigan

Toll FL GP Corp.

   Florida

Toll GA GP Corp.

   Georgia

Toll IL GP Corp.

   Illinois

Toll Land Corp. No. 6

   Pennsylvania

Toll MD Builder Corp.

   Maryland

Toll MI GP Corp.

   Michigan

Toll NV GP Corp.

   Nevada

Toll OH GP Corp.

   Ohio

Toll PA Builder Corp.

   Pennsylvania

Toll PA GP Corp.

   Pennsylvania

Toll PA II GP Corp.

   Pennsylvania

Toll PA III GP Corp.

   Pennsylvania

Toll RI GP Corp.

   Rhode Island

Toll SC GP Corp.

   South Carolina

Toll TN GP Corp.

   Tennessee

Toll WV GP Corp.

   West Virginia

Toll YL, Inc.

   California

Audubon Ridge, L.P.

   Pennsylvania

Belmont Land, L.P.

   Virginia

Binks Estates Limited Partnership

   Florida

Blue Bell Country Club, L.P.

   Pennsylvania

Broad Run Associates, L.P.

   Pennsylvania

Buckingham Woods, L.P.

   Pennsylvania

CC Estates Limited Partnership

   Massachusetts

 

1


Entity Name

  

Jurisdiction

Cold Spring Hunt, L.P.

   Pennsylvania

Dominion Country Club, L.P.

   Virginia

Eagle Farm Limited Partnership

   Massachusetts

Estates at Princeton Junction, L.P.

   New Jersey

Estates at Rivers Edge, L.P.

   New Jersey

Fairfax Investment, L.P.

   Virginia

Fairfax Station Hunt, L.P.

   Virginia

Farmwell Hunt, L.P.

   Virginia

Great Falls Hunt, L.P.

   Virginia

Greens at Waynesborough, L.P.

   Pennsylvania

Greenwich Chase, L.P.

   New Jersey

Hatboro Road Associates LLC

   Pennsylvania

Hoboken Land LP

   New Jersey

Huckins Farm Limited Partnership

   Massachusetts

Kensington Woods Limited Partnership

   Massachusetts

Laurel Creek, L.P.

   New Jersey

Loudoun Valley Associates, L.P.

   Virginia

NC Country Club Estates Limited Partnership

   North Carolina

Rose Hollow Crossing Associates

   Pennsylvania

Silverman-Toll Limited Partnership

   Michigan

Sorrento at Dublin Ranch I LP

   California

Sorrento at Dublin Ranch III LP

   California

South Riding, L.P.

   Virginia

South Riding Amberlea LP

   Virginia

South Riding Partners Amberlea LP

   Virginia

South Riding Partners, L.P.

   Virginia

Southport Landing Limited Partnership

   Connecticut

Springton Pointe, L.P.

   Pennsylvania

Stone Mill Estates, L.P.

   Pennsylvania

Swedesford Chase, L.P.

   Pennsylvania

Toll Brothers AZ Limited Partnership

   Arizona

Toll FL III Limited Partnership

   Florida

Toll FL IV Limited Partnership

   Florida

Toll FL V Limited Partnership

   Florida

Toll FL VI Limited Partnership

   Florida

Toll FL VII Limited Partnership

   Florida

Toll FL VIII Limited Partnership

   Florida

Toll FL IV LLC

   Florida

Toll Ft. Myers Limited Partnership

   Florida

Toll GA LP

   Georgia

Toll Grove LP

   New Jersey

Toll Hudson LP

   New Jersey

Toll IL HWCC, L.P.

   Illinois

Toll IL, L.P.

   Illinois

 

2


Entity Name

  

Jurisdiction

Toll IL II, L.P.

   Illinois

Toll IL III, L.P.

   Illinois

Toll IL IV, L.P.

   Illinois

Toll IL WSB, L.P.

   Illinois

Toll Jacksonville Limited Partnership

   Florida

Toll Land Limited Partnership

   Connecticut

Toll Land IV Limited Partnership

   New Jersey

Toll Land X Limited Partnership

   Virginia

Toll Land XI Limited Partnership

   New Jersey

Toll Land XV Limited Partnership

   Virginia

Toll Land XVI Limited Partnership

   New Jersey

Toll Land XVIII Limited Partnership

   Connecticut

Toll Land XIX Limited Partnership

   California

Toll Land XX Limited Partnership

   California

Toll Land XXI Limited Partnership

   Virginia

Toll Land XXII Limited Partnership

   California

Toll Land XXIII Limited Partnership

   California

Toll Land XXV Limited Partnership

   New Jersey

Toll Land XXVI Limited Partnership

   Ohio

Toll Livingston at Naples Limited Partnership

   Florida

Toll CA, L.P.

   California

Toll CA II, L.P.

   California

Toll CA III, L.P.

   California

Toll CA IV, L.P.

   California

Toll CA V, L.P.

   California

Toll CA VI, L.P.

   California

Toll CA VII, L.P.

   California

Toll CA VIII, L.P.

   California

Toll CA IX, L.P.

   California

Toll CA X, L.P.

   California

Toll CA XI, L.P.

   California

Toll CA XII, L.P.

   California

Toll CA XIX, L.P.

   California

Toll CA I LLC

   California

Toll CA Note II LLC

   California

Toll CO, L.P.

   Colorado

Toll CT Limited Partnership

   Connecticut

Toll CT II Limited Partnership

   Connecticut

Toll CT III Limited Partnership

   Connecticut

Toll FL X Limited Partnership

   Florida

Toll MA Land Limited Partnership

   Massachusetts

Toll MD Builder I, L.P.

   Maryland

Toll MD Limited Partnership

   Maryland

Toll MD II Limited Partnership

   Maryland

 

3


Entity Name

  

Jurisdiction

Toll MD III Limited Partnership

   Maryland

Toll MD IV Limited Partnership

   Maryland

Toll MD V Limited Partnership

   Maryland

Toll MD VI Limited Partnership

   Maryland

Toll MD VII Limited Partnership

   Maryland

Toll MD VIII Limited Partnership

   Maryland

Toll MD IX Limited Partnership

   Maryland

Toll MD X Limited Partnership

   Maryland

Toll MD XI Limited Partnership

   Maryland

Toll MI Limited Partnership

   Michigan

Toll MI II Limited Partnership

   Michigan

Toll MI III Limited Partnership

   Michigan

Toll MI IV Limited Partnership

   Michigan

Toll MI V Limited Partnership

   Michigan

Toll MN, L.P.

   Minnesota

Toll MN II, L.P.

   Minnesota

Toll Naval Associates

   Pennsylvania

Toll NC II LP

   North Carolina

Toll NC III LP

   North Carolina

Toll NC, L.P.

   North Carolina

Toll NH Limited Partnership

   New Hampshire

Toll NJ Builder I, L.P.

   New Jersey

Toll NJ, L.P.

   New Jersey

Toll NJ II, L.P.

   New Jersey

Toll NJ III, L.P.

   New Jersey

Toll NJ IV, L.P.

   New Jersey

Toll NJ V, L.P.

   New Jersey

Toll NJ VI, L.P.

   New Jersey

Toll NJ VII, L.P.

   New Jersey

Toll NJ VIII, L.P.

   New Jersey

Toll NJ XI, L.P.

   New Jersey

Toll Northville Limited Partnership

   Michigan

Toll NV Limited Partnership

   Nevada

Toll Orlando Limited Partnership

   Florida

Toll PA, L.P.

   Pennsylvania

Toll PA II, L.P.

   Pennsylvania

Toll PA III, L.P.

   Pennsylvania

Toll PA IV, L.P.

   Pennsylvania

Toll PA V, L.P.

   Pennsylvania

Toll PA VI, L.P.

   Pennsylvania

Toll PA VIII, L.P.

   Pennsylvania

Toll PA IX, L.P.

   Pennsylvania

Toll PA X, L.P.

   Pennsylvania

Toll PA XI, L.P.

   Pennsylvania

 

4


Entity Name

  

Jurisdiction

Toll PA XII, L.P.

   Pennsylvania

Toll PA XIII, L.P.

   Pennsylvania

Toll PA XIV, L.P.

   Pennsylvania

Toll PA XV, L.P.

   Pennsylvania

Toll RI, L.P.

   Rhode Island

Toll RI II, L.P.

   Rhode Island

Toll SC, L.P.

   South Carolina

Toll SC II, L.P.

   South Carolina

Toll SC III, L.P.

   South Carolina

Toll SC IV, L.P.

   South Carolina

Toll Stonebrae LP

   California

Toll VA, L.P.

   Virginia

Toll VA II, L.P.

   Virginia

Toll VA III, L.P.

   Virginia

Toll VA IV, L.P.

   Virginia

Toll VA V, L.P.

   Virginia

Toll VA VI, L.P.

   Virginia

Toll VA VII, L.P.

   Virginia

Toll WA LP

   Washington

Toll WV LP

   West Virginia

Toll YL, L.P.

   California

Toll YL II, L.P.

   California

Toll-Dublin, L.P.

   California

Village Partners, L.P.

   Pennsylvania

West Amwell Limited Partnership

   New Jersey

Wilson Concord, L.P.

   Tennessee

1450 Washington LLC

   New Jersey

1500 Garden St. LLC

   New Jersey

2301 Fallston Road LLC

   Maryland

700 Grove Street Urban Renewal, LLC

   New Jersey

Arbor Hills Development LLC

   Michigan

Arthur’s Woods, LLC

   Maryland

Arundel Preserve #6, LLC

   Maryland

Arundel Preserve #10a, LLC

   Maryland

Belmont Country Club I LLC

   Virginia

Belmont Country Club II LLC

   Virginia

Block 255 LLC

   New Jersey

Brier Creek Country Club I LLC

   North Carolina

Brier Creek Country Club II LLC

   North Carolina

C.B.A.Z. Construction Company LLC

   Arizona

CWG Construction Company LLC

   New Jersey

Dominion Valley Country Club I LLC

   Virginia

Dominion Valley Country Club II LLC

   Virginia

Frenchman’s Reserve Realty, LLC

   Florida

 

5


Entity Name

  

Jurisdiction

Golf I Country Club Estates at Moorpark LLC

   California

Golf II Country Club Estates at Moorpark LLC

   California

Hawthorn Woods Country Club II LLC

   Illinois

Hoboken Cove LLC

   New Jersey

Jacksonville TBI Realty LLC

   Florida

Lighthouse Point Land Company, LLC

   Florida

Long Meadows TBI, LLC

   Maryland

Longmeadow Properties LLC

   Maryland

Martinsburg Ventures, L.L.C.

   Virginia

Mizner Realty, L.L.C.

   Florida

Naples TBI Realty, LLC

   Florida

Orlando TBI Realty LLC

   Florida

Paramount Village LLC

   California

Phillips Drive LLC

   Maryland

Prince William Land I LLC

   Virginia

Prince William Land II LLC

   Virginia

PT Maxwell Holdings, LLC

   New Jersey

PT Maxwell, L.L.C.

   New Jersey

Regency at Denville LLC

   New Jersey

Regency at Dominion Valley LLC

   Virginia

Regency at Long Valley I LLC

   New Jersey

Regency at Long Valley II LLC

   New Jersey

Regency at Mansfield I LLC

   New Jersey

Regency at Mansfield II LLC

   New Jersey

Regency at Washington I LLC

   New Jersey

Regency at Washington II LLC

   New Jersey

South Riding Realty LLC

   Virginia

SR Amberlea LLC

   Virginia

SRLP II LLC

   Virginia

Tampa TBI Realty LLC

   Florida

The Regency Golf Club I LLC

   Virginia

The Regency Golf Club II LLC

   Virginia

The Ridges at Belmont Country Club I LLC

   Virginia

The Ridges at Belmont Country Club II LLC

   Virginia

Toll Austin TX LLC

   Texas

Toll Cedar Hunt LLC

   Virginia

Toll CO I LLC

   Colorado

Toll Dallas TX LLC

   Texas

Toll FL I, LLC

   Florida

Toll Glastonbury LLC

   Connecticut

Toll Henderson LLC

   Nevada

Toll IN LLC

   Indiana

Toll Jupiter LLC

   Florida

Toll MA I LLC

   Massachusetts

 

6


Entity Name

  

Jurisdiction

Toll MA II LLC    Massachusetts
Toll MD I, L.L.C.    Maryland
Toll MD II LLC    Maryland
Toll NC I LLC    North Carolina
Toll NC IV LLC    North Carolina
Toll NC Note LLC    North Carolina
Toll NC Note II LLC    North Carolina
Toll NJ I, L.L.C.    New Jersey
Toll NJ II, L.L.C.    New Jersey
Toll NJ III, LLC    New Jersey
Toll North LV LLC    Nevada
Toll North Reno LLC    Nevada
Toll NV Holdings LLC    Nevada
Toll Realty L.L.C.    Florida
Toll San Antonio TX LLC    Texas
Toll South LV LLC    Nevada
Toll South Reno LLC    Nevada
Toll Stratford LLC    Virginia
Toll VA III L.L.C.    Virginia
Toll Vanderbilt I LLC    Rhode Island
Toll Vanderbilt II LLC    Rhode Island
Toll-Dublin, LLC    California
Vanderbilt Capital LLC    Rhode Island
Virginia Construction Co. I, LLC    Virginia
Virginia Construction Co. II, LLC    Virginia
TBI/Naples Limited Partnership    Florida
TBI/Palm Beach Limited Partnership    Florida
The Bird Estate Limited Partnership    Massachusetts
The Estates at Brooke Manor Limited Partnership    Maryland
The Estates at Summit Chase, L.P.    California
Toll at Brier Creek Limited Partnership    North Carolina
Toll at Honey Creek Limited Partnership    Michigan
Toll at Westlake, L.P.    New Jersey
Toll East Naples Limited Partnership    Florida
Toll Estero Limited Partnership    Florida
Toll FL Limited Partnership    Florida
Toll FL II Limited Partnership    Florida
Toll Houston TX LLC    Texas
Toll TX Note LLC    Texas

 

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Schedule II

Guarantors That are Corporations, Limited Liability Companies or Limited Liability

Partnerships in the State of New York or the State of Delaware

 

Entity Name

  

Jurisdiction

110-112 Third Ave. Realty Corp.

   New York

Amwell Chase, Inc.

   Delaware

C.B.A.Z. Holding Company LLC

   Delaware

ESE Consultants, Inc.

   Delaware

Fairway Valley, Inc.

   Delaware

First Brandywine Finance Corp.

   Delaware

First Brandywine Investment Corp. II

   Delaware

First Brandywine Investment Corp. IV

   Delaware

First Huntingdon Finance Corp.

   Delaware

Franklin Farms G.P., Inc.

   Delaware

Hoboken Land I LLC

   Delaware

MA Limited Land Corporation

   Delaware

TB Kent Partners LLC

   Delaware

TB Proprietary Corp.

   Delaware

Tenby Hunt, Inc.

   Delaware

Toll Architecture I, P.A.

   Delaware

Toll Architecture, Inc.

   Delaware

Toll AZ GP Corp.

   Delaware

Toll Bros. of Tennessee, Inc.

   Delaware

Toll Bros., Inc.

   Delaware

Toll Brothers Finance Corp.

   Delaware

Toll Buckeye Corp.

   Delaware

Toll Centennial Corp.

   Delaware

Toll Corp.

   Delaware

Toll Diamond Corp.

   Delaware

Toll Golden Corp.

   Delaware

Toll Granite Corp.

   Delaware

Toll Holdings, Inc.

   Delaware

Toll Land V Limited Partnership

   New York

Toll Land VI Limited Partnership

   New York

Toll Land VII Limited Partnership

   New York

Toll Land IX Limited Partnership

   New York

Toll Land XIV Limited Partnership

   New York

Toll Land Corp. No. 10

   Delaware

Toll Land Corp. No. 20

   Delaware

Toll Land Corp. No. 43

   Delaware

Toll Land Corp. No. 50

   Delaware

Toll Manhattan I, Inc.

   New York

Toll Mid-Atlantic LP Company, Inc.

   Delaware

 

8


Entity Name

  

Jurisdiction

Toll Mid-Atlantic Note Company, Inc.

   Delaware

Toll Midwest LP Company, Inc.

   Delaware

Toll Midwest Note Company, Inc.

   Delaware

Toll NJX-I Corp.

   Delaware

Toll Northeast LP Company, Inc.

   Delaware

Toll Northeast Note Company, Inc.

   Delaware

Toll Northeast Services, Inc.

   Delaware

Toll Palmetto Corp.

   Delaware

Toll Peppertree, Inc.

   New York

Toll Philmont Corporation

   Delaware

Toll Realty Holdings Corp. I

   Delaware

Toll Realty Holdings Corp. II

   Delaware

Toll Southeast LP Company, Inc.

   Delaware

Toll Southeast Note Company, Inc.

   Delaware

Toll Southwest LP Company, Inc.

   Delaware

Toll Southwest Note Company, Inc.

   Delaware

Toll TX GP Corp.

   Delaware

Toll VA GP Corp.

   Delaware

Toll VA Member Two, Inc.

   Delaware

Toll WestCoast LP Company, Inc.

   Delaware

Toll WestCoast Note Company, Inc.

   Delaware

Warren Chase, Inc.

   Delaware

51 N. 8th Street L.P.

   New York

First Brandywine Partners, L.P.

   Delaware

Hockessin Chase, L.P.

   Delaware

Somers Chase, L.P.

   New York

Toll Realty Holdings LP

   Delaware

110-112 Third Ave. GC II LLC

   New York

110-112 Third Ave. GC LLC

   New York

5-01 — 5-17 48th Avenue GC II LLC

   New York

5-01 — 5-17 48th Avenue GC LLC

   New York

5-01 — 5-17 48th Avenue II LLC

   New York

5-01 — 5-17 48th Avenue LLC

   New York

51 N. 8th Street GC II LLC

   New York

51 N. 8th Street GC LLC

   New York

51 N. 8th Street I LLC

   New York

Component Systems I LLC

   Delaware

Component Systems II LLC

   Delaware

First Brandywine LLC I

   Delaware

First Brandywine LLC II

   Delaware

First Brandywine LLC III

   Delaware

First Brandywine LLC IV

   Delaware

Toll Corners LLC

   Delaware

Toll DE LP

   Delaware

 

9


Entity Name

  

Jurisdiction

Toll DE II LP

   Delaware

Toll DE X II, LLC

   Delaware

Toll EB, LLC

   Delaware

Toll NY LP

   New York

Toll NY II L.P.

   New York

Toll NY III L.P.

   New York

Toll NY IV L.P.

   New York

Toll Equipment, L.L.C.

   Delaware

Toll Hoboken LLC

   Delaware

Toll Morgan Street LLC

   Delaware

Toll VA L.L.C.

   Delaware

Toll Van Wyck, LLC

   New York

Toll at Whippoorwill, L.P.

   New York

Toll Brooklyn, L.P.

   New York

Toll Lexington LLC

   New York

Toll Midwest LLC

   Delaware

Toll Southwest LLC

   Delaware

Toll West Coast LLC

   Delaware

 

10