EX-25.1 8 d585596dex251.htm EX-25.1 EX-25.1

Exhibit 25.1

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

☐

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

 

 

Branch Banking and Trust Company

(Exact name of trustee as specified in its charter)

 

 

 

North Carolina   56-0149200

(Jurisdiction of incorporation

if not a U.S. national bank)

  

(I.R.S. Employer

Identification Number)

223 West Nash Street

Wilson, NC 27893

   27893
(Address of principal executive offices)   (Zip Code)

Gregory Yanok

Vice President

223 West Nash Street

Wilson, NC 27893

(252) 246-4679

(Name, address and telephone number of agent for service)

 

 

 

Delaware   D.R. Horton, Inc..   75-2386963

(State or other jurisdiction of

incorporation or organization)

  

(Exact name of obligor as specified in its

charter)

  

(IRS Employer

Identification Number)

1341 Horton Circle

Arlington, TX

   76011
(Address of principal executive offices)   (Zip Code)

 

 

SENIOR DEBT SECURITIES

AND RELATED GUARANTEES

(Title of the indenture securities)

 

 

 

TABLE OF ADDITIONAL CO-OBLIGORS

The following direct and indirect subsidiaries of D.R. Horton, Inc. may guarantee the D.R. Horton Inc. senior debt securities. The address, including zip code, and telephone number, including area code, for each of the co-obligors is c/o D.R. Horton, Inc., 1341 Horton Circle Arlington, Texas 76011, (817) 390-8200.

 

Name of Co-Registrant

    Jurisdiction of
Incorporation or
Organization		    I.R.S.
Employer
Identification
No.		  

C. Richard Dobson Builders, Inc.

    Virginia      54-1082672  

CH Investments of Texas, Inc.

    Delaware      86-0831611  

CHI Construction Company

    Arizona      86-0533370  

CHTEX of Texas, Inc.

    Delaware      74-2791268  

Continental Homes, Inc.

    Delaware      86-0515339  

Continental Homes of Texas, L.P.

    Texas      74-2791904  

Continental Residential, Inc.

    California      86-0596757  

D.R. Horton – Colorado, LLC

    Delaware      47-4670290  

D.R. Horton – CHAustin, LLC

    Delaware      47-4632353  

D.R. Horton – Crown, LLC

    Delaware      46-1022394  

D.R. Horton – Emerald, Ltd.

    Texas      75-2926873  

D.R. Horton – Georgia, LLC

    Delaware      46-1040657  

D.R. Horton – Indiana, LLC

    Delaware      47-4681214  

D.R. Horton – Permian, LLC

    Delaware      47-4645825  

D.R. Horton – Regent, LLC

    Delaware      46-1018273  

D.R. Horton – Schuler Homes, LLC

    Delaware      02-0548194  

D.R. Horton – Texas, Ltd.

    Texas      75-2491320  

D.R. Horton – WPH, LLC

    Delaware      46-1038842  

D.R. Horton, Inc. – Birmingham

    Alabama      62-1666398  

D.R. Horton, Inc. – Chicago

    Delaware      75-2795240  

D.R. Horton, Inc. – Dietz-Crane

    Delaware      75-2926868  

D.R. Horton, Inc. – Greensboro

    Delaware      75-2599897  

D.R. Horton, Inc. – Gulf Coast

    Delaware      75-2926872  

D.R. Horton, Inc. – Huntsville

    Delaware      20-4973832  

D.R. Horton, Inc. – Jacksonville

    Delaware      75-2460269  

D.R. Horton, Inc. – Louisville

    Delaware      75-2636512  

D.R. Horton, Inc. – Midwest

    California      75-2589359  

D.R. Horton, Inc. – Minnesota

    Delaware      75-2527442  

D.R. Horton, Inc. – New Jersey

    Delaware      75-2665362  

D.R. Horton, Inc. – Portland

    Delaware      75-2763765  

D.R. Horton, Inc. – Torrey

    Delaware      75-2689997  

D.R. Horton BAY, Inc.

    Delaware      65-1218940  

D.R. Horton CA2, Inc.

    California      75-2569592  

D.R. Horton CA3, Inc.

    Delaware      75-2926871  

D.R. Horton CA4, LLC

    Delaware      47-4619674  

D.R. Horton Cruces Construction, Inc.

    Delaware      65-1218942  

D.R. Horton LA North, Inc.

    Delaware      65-1218941  

D.R. Horton Los Angeles Holding Company, Inc.

    California      75-2589298  

D.R. Horton Management Company, Ltd.

    Texas      75-2436079  

D.R. Horton Materials, Inc.

    Delaware      75-2926870  

D.R. Horton Serenity Construction, LLC

    Delaware      75-2926876  

D.R. Horton VEN, Inc.

    California      75-2589293  

DRH Cambridge Homes, LLC

    Delaware      75-2797879  

DRH Construction, Inc.

    Delaware      75-2633738  

DRH Regrem VII, LP

    Texas      75-2926874  

DRH Regrem XII, LP

    Texas      65-1218943  

Name of Co-Registrant

    Jurisdiction of
Incorporation or
Organization		    I.R.S.
Employer
Identification
No.		  

DRH Regrem XIV, Inc.

    Delaware      20-4974035  

DRH Regrem XV, Inc.

    Delaware      20-4974123  

DRH Regrem XVI, Inc.

    Delaware      20-4974218  

DRH Regrem XVII, Inc.

    Delaware      20-4974283  

DRH Regrem XVIII, Inc.

    Delaware      20-4974344  

DRH Regrem XIX, Inc.

    Delaware      20-4974420  

DRH Regrem XX, Inc.

    Delaware      20-4974895  

DRH Regrem XXI, Inc.

    Delaware      20-4975007  

DRH Regrem XXII, Inc.

    Delaware      20-4975092  

DRH Regrem XXIII, Inc.

    Delaware      20-4975165  

DRH Regrem XXIV, Inc.

    Delaware      20-4975234  

DRH Regrem XXV, Inc.

    Delaware      75-2440439  

DRH Regrem XXXVII, LLC

    Delaware      47-4681366  

DRH Regrem XXXVIII, LLC

    Delaware      47-4670415  

DRH Regrem XXXIX, LLC

    Delaware      47-4659972  

DRH Regrem XL, LLC

    Delaware      47-4654463  

DRH Regrem XLI, LLC

    Delaware      83-1219778  

DRH Regrem XLII, LLC

    Delaware      83-1226448  

DRH Regrem XLIII, LLC

    Delaware      83-1246812  

DRH Regrem XLIV, LLC

    Delaware      83-1257652  

DRH Regrem XLV, LLC

    Delaware      83-1275508  

DRH Regrem XLVI, LLC

    Delaware      83-1286376  

DRH Regrem XLVII, LLC

    Delaware      83-1310784  

DRH Regrem XLVIII, LLC

    Delaware      83-1321463  

DRH Regrem XLIX, LLC

    Delaware      83-1336183  

DRH Regrem L, LLC

    Delaware      83-1352262  

DRH Regrem LI, LLC

    Delaware      83-1368494  

DRH Regrem LII, LLC

    Delaware      83-1383774  

DRH Regrem LIII, LLC

    Delaware      83-1401560  

DRH Regrem LIV, LLC

    Delaware      83-1421468  

DRH Regrem LV, LLC

    Delaware      83-1433653  

DRH Southwest Construction, Inc.

    California      75-2589289  

DRH Tucson Construction, Inc.

    Delaware      75-2709796  

HPH Homebuilders 2000 L.P.

    California      68-0368156  

KDB Homes, Inc.

    Delaware      86-0565376  

Lexington Homes - DRH, LLC

    Delaware      47-4659801  

Meadows I, Ltd.

    Delaware      75-2436082  

Meadows II, Ltd.

    Delaware      51-0342206  

Meadows VIII, Ltd.

    Delaware      75-2824511  

Meadows IX, Inc.

    New Jersey      75-2684821  

Meadows X, Inc.

    New Jersey      75-2684823  

Melody Homes, Inc.

    Delaware      88-0309544  

Pacific Ridge – DRH, LLC

    Delaware      46-1030683  

Schuler Homes of Arizona LLC

    Delaware      99-0350555  

Schuler Homes of California, Inc.

    California      99-0328127  

Schuler Homes of Oregon, Inc.

    Oregon      99-0330791  

Schuler Homes of Washington, Inc.

    Washington      99-0329483  

SGS Communities at Grande Quay L.L.C.

    New Jersey      22-3481784  

SHA Construction LLC

    Delaware      86-1002579  

SHLR of California, Inc.

    California      99-0350554  

SHLR of Nevada, Inc.

    Nevada      99-0343628  

SHLR of Washington, Inc.

    Washington      99-0334375  

SRHI LLC

    Delaware      99-0343629  

SSHI LLC

    Delaware      91-1842222  

Name of Co-Registrant

    Jurisdiction of
Incorporation or
Organization		    I.R.S.
Employer
Identification
No.		  

Vertical Construction Corporation

    Delaware      22-3216488  

Western Pacific Housing-Antigua, LLC

    Delaware      95-4750872  

Western Pacific Housing-Broadway, LLC

    Delaware      95-4850687  

Western Pacific Housing-Canyon Park, LLC

    Delaware      95-4716219  

Western Pacific Housing-Carrillo, LLC

    Delaware      95-4815705  

Western Pacific Housing-Communications Hill, LLC

    Delaware      95-4637162  

Western Pacific Housing-Copper Canyon, LLC

    Delaware      95-4817406  

Western Pacific Housing-Creekside, LLC

    Delaware      95-4769848  

Western Pacific Housing-Lomas Verdes, LLC

    Delaware      95-4783214  

Western Pacific Housing-McGonigle Canyon, LLC

    Delaware      95-4735759  

Western Pacific Housing-Mountaingate, L.P.

    California      95-4539564  

Western Pacific Housing-Norco Estates, LLC

    Delaware      95-4686652  

Western Pacific Housing-Pacific Park II, LLC

    Delaware      95-4636584  

Western Pacific Housing-Park Avenue East, LLC

    Delaware      52-2350169  

Western Pacific Housing-Park Avenue West, LLC

    Delaware      95-4888647  

Western Pacific Housing-Playa Vista, LLC

    Delaware      95-4879655  

Western Pacific Housing-River Ridge, LLC

    Delaware      95-4870837  

Western Pacific Housing-Terra Bay Duets, LLC

    Delaware      95-4878114  

Western Pacific Housing-Torrey Meadows, LLC

    Delaware      95-4878113  

Western Pacific Housing-Torrey Village Center, LLC

    Delaware      95-4837541  

Western Pacific Housing-Windemere, LLC

    Delaware      95-4879656  

Western Pacific Housing, Inc.

    Delaware      95-4887164  

Western Pacific Housing Management, Inc.

    California      95-4692688  

WPH-Camino Ruiz, LLC

    Delaware      95-4802985  

Item 1.

General information.

Furnish the following information as to the trustee-

 

  (a)

Name and address of each examining or supervising authority to which it is subject.

State of North Carolina – Commissioner of Banks

State of North Carolina

Raleigh, North Carolina

Federal Reserve Bank of Richmond

Post Office Box 27622

Richmond, VA 23261

Federal Deposit Insurance Corporation

Washington, D.C.

 

  (b)

Whether it is authorized to exercise corporate trust powers.

Yes.

 

Item 2.

Affiliations with Obligor.

If the obligor is an affiliate of the trustee, describe each such affiliation.

Based upon an examination of the books and records of the trustee and upon information furnished by the obligors, the obligors are not affiliates of the trustee.

 

Items 3-15.

No responses are included for Items 3 through 15. Responses to those Items are not required because, as provided in General Instruction B the obligors are not in default on any securities issued under indentures under which Branch Banking and Trust Company is a trustee and Branch Banking and Trust Company is not a foreign trustee.

 

Item 16.

List of Exhibits.

List below all exhibits filed as a part of this statement of eligibility; exhibits identified in parentheses are filed with the Commission and are incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29 under the Trust Indenture Act of 1939, as amended, and Rule 24 of the Commission’s Rules of Practice.

 

  1.

A copy of the Articles of Incorporation for Branch Banking and Trust Company, as now in effect, is incorporated by reference to Exhibit 1 to the Form T-1 filed as Exhibit 25.1 to Registration Statement No. 333-221438.

 

  2.

The authority of Branch Banking and Trust Company to commence business was granted under the Articles of Incorporation for Branch Banking and Trust Company, incorporated herein by reference to Exhibit 1 of this Form T-1.

 

  3.

The authorization to exercise corporate trust powers was granted under the Articles of Incorporation for Branch Banking and Trust Company, incorporated herein by reference to Exhibit 1 of this Form T-1.

  4.

A copy of the existing By-Laws of Branch Banking and Trust Company, as now in effect, is incorporated by reference to Exhibit 4 to the Form T-1 filed as Exhibit 25.1 to Registration Statement No. 333-221438.

 

  5.

Not applicable.

 

  6.

The consent of Trustee as required by Section 321(b) of the Trust Indenture Act of 1939, is attached as Exhibit 6.

 

  7.

The Current Report of the Condition of Trustee, published pursuant to law or the requirements of its supervising or examining authority, is attached as Exhibit 7.

 

  8.

Not applicable.

 

  9.

Not applicable.

SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939 the trustee, Branch Banking and Trust Company, a banking corporation organized and existing under the laws of the State of North Carolina, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Houston and the State of Texas, on the 7th day of August, 2018.

 

BRANCH BANKING AND TRUST COMPANY
By:  

/s/ Gregory Yanok

Name:   Gregory Yanok
Title:   Vice President

EXHIBIT 6 TO FORM T-1

Section 321(b) Consent

Pursuant to Section 321(b) of the Trust Indenture Act of 1939, as amended, Branch Banking and Trust Company hereby consents that reports of examinations by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon requests therefor.

 

    BRANCH BANKING AND TRUST COMPANY
Dated: August 7, 2018     By:  

/s/ Gregory Yanok

    Name:   Gregory Yanok
    Title:   Vice President

EXHIBIT 7 TO FORM T-1

BB&T CORPORATION AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEET

 

(Dollars in millions, except per share data, shares in thousands)

    June 30, 2018  

Assets

   

Cash and due from banks

    $ 2,046  

Interest-bearing deposits with banks

      662  

Cash equivalents

      213  

Restricted cash

      132  

AFS securities at fair value

      23,919  

HTM securities (fair value of $21,080 at June 30, 2018)

      21,749  

LHFS at fair value

      1,615  

Loans and leases

      146,183  

ALLL

      (1,530 ) 
  

 

 

  

Loans and leases, net of ALLL

      144,653  
  

 

 

  

Premises and equipment

      2,154  

Goodwill

      9,617  

CDI and other intangible assets

      647  

MSRs at fair value

      1,143  

Other assets

      14,131  
  

 

 

  

Total Assets

    $ 222,681  
  

 

 

  

Liabilities

   

Deposits

    $ 159,475  

Short-term borrowings

      3,576  

Long-term debt

      24,081  

Accounts payable and other liabilities

      5,717  
  

 

 

  

Total Liabilities

      192,849  
  

 

 

  

Commitments and contingencies

   

Shareholders’ Equity

   

Preferred stock, $5 par, liquidation preference of $25,000 per share

      3,053  

Common stock, $5 par

      3,872  

Additional paid-in capital

      7,364  

Retained earnings

      17,197  

AOCI, net of deferred income taxes

      (1,706 ) 

Noncontrolling interests

      52  
  

 

 

  

Total shareholders’ equity

      29,832  
  

 

 

  

Total liabilities and shareholders’ equity

    $ 222,681