Company: LEN
Filing Date: 2025-05-13
Form Type: 424B5
Source: 0001193125-25-118869
Chunk: 31

Company: LENNAR CORP /NEW/
Filing Date: 2025-05-13
Form: 424B5
Chunk 31
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”) or thereafter acquired, unless:

| • |     | if such Lien secures Indebtedness ranking equal in right of payment with the Notes, then the Notes are                                                                             
 secured by a Lien on the same properties or assets on an equal and ratable basis with the obligation so secured until such time as such obligation is no longer secured by a Lien; |

| • |     | if such Lien secures Indebtedness which is subordinated to the Notes, then the Notes are secured by a Lien                                                                                                        
 on the same properties or assets and the Lien securing such Indebtedness is subordinated to the Lien granted to the holders of the Notes to the same extent as such Indebtedness is subordinated to the Notes; or |

| • |     | such Lien is a Permitted Lien (as defined below). |

The following Liens are “Permitted Liens”:

| • |     | Liens on property of a Person existing at the time such Person is merged into or consolidated with or                                                                                                                                                   
 otherwise acquired by us or any Restricted Subsidiary, provided that such Liens were in existence prior to, and were not created in contemplation of, such merger, consolidation or acquisition and do not extend to any assets other than those of the 
 Person merged into or consolidated with us or any Restricted Subsidiary;                                                                                                                                                                                |

| • |     | Liens on property existing at the time of acquisition thereof by us or any Restricted Subsidiary; provided                                                               
 that such Liens were in existence prior to, and were not created in contemplation of, such acquisition and do not extend to any assets other than the property acquired; |

| • |     | Liens imposed by law such as carriers’, warehouseman’s or mechanics’ Liens, and other Liens                                                                                      
 to secure the performance of statutory obligations, surety or appeal bonds, performance bonds or other obligations of a like nature incurred in the ordinary course of business; |

| • |     | Liens incurred in connection with pollution control, industrial revenue, water, sewage or any similar 
 bonds;                                                                                                |

| • |     | Liens securing Indebtedness representing, or incurred to finance, the cost of acquiring, constructing or                                         
 improving any assets, provided that the principal amount of such Indebtedness does not exceed 100% of such cost, including construction charges; |

S-18

| • |     | Liens on model