Exhibit 10.2

THIRD AMENDMENT TO AMENDED AND RESTATED

REVOLVING CREDIT LOAN AGREEMENT

GREENWOOD FINANCIAL, INC.,

A DELAWARE CORPORATION,

AND CERTAIN AFFILIATES

Borrowers

ORLEANS HOMEBUILDERS, INC.,

A DELAWARE CORPORATION

Guarantor

WACHOVIA BANK, NATIONAL ASSOCIATION

Administrative Agent

WACHOVIA CAPITAL MARKETS, LLC

Lead Arranger

BANK OF AMERICA, N.A.

Syndication Agent

SOVEREIGN BANK

Documentation Agent

MANUFACTURERS AND TRADERS TRUST COMPANY

Documentation Agent

NATIONAL CITY BANK

Documentation Agent

WACHOVIA BANK, NATIONAL ASSOCIATION

FIRSTRUST BANK

GUARANTY BANK

U.S. BANK NATIONAL ASSOCIATION

CITIZENS BANK OF PENNSYLVANIA

COMMERCE BANK, N.A.

SUNTRUST BANK

REGIONS BANK

FRANKLIN BANK, SSB

COMERICA BANK

COMPASS BANK, an Alabama Banking Corporation

JPMORGAN CHASE BANK, N.A.

LASALLE BANK NATIONAL ASSOCIATION

DEUTSCHE BANK TRUST COMPANY AMERICAS

Lenders

 

Executed: May 8, 2007

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THIRD AMENDMENT TO AMENDED AND RESTATED
REVOLVING CREDIT LOAN AGREEMENT

This Third Amendment to Amended and Restated Revolving Credit Loan Agreement
(this “Amendment”), executed as of the 8th day of May, 2007 (the “Execution
Date”), but effective as of March 31, 2007 (the “Effective Date”), by and among
GREENWOOD FINANCIAL, INC., a Delaware corporation (“Master Borrower”), each of
the other entities identified on Schedule 1.1A that is attached hereto as
“Borrowers,” ORLEANS HOMEBUILDERS, INC., as Delaware corporation as guarantor
(“Guarantor”), the Lenders who are a party hereto, and WACHOVIA BANK, NATIONAL
ASSOCIATION, as Agent for the Lenders (“Agent”).

BACKGROUND

A.                                  Master Borrower, Agent, the Lenders,
Guarantor and the Borrowers are parties to an Amended and Restated Revolving
Credit Loan Agreement dated as of January 24, 2006, and amended by a First
Amendment to Amended and Restated Revolving Credit Loan Agreement dated as of
November 1, 2006 and a Second Amendment to Amended and Restated Revolving Credit
Loan Agreement executed as of February 7, 2007 (as so amended, the
“Agreement”).  All capitalized terms used but not specifically defined herein
have the meanings defined in the Agreement.

B.                                    The parties hereto desire to modify and
amend the Agreement in the manner set forth in this Amendment.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which are acknowledged, and intending to be legally bound hereby, the parties
hereto agree as follows:

1.                                      Effect of this Amendment.  This
Amendment shall become effective (but as of the Effective Date) only upon the
execution of this Amendment by the Borrowers, Guarantor, Agent and Requisite
Lenders.

2.                                      Definition of Swap Contract.  The
definition of “Swap Contract” set forth in Section 1.1 of the Agreement is
hereby deleted and the following is inserted in its place:

“Swap Contract” means any “swap agreement” (as that term is defined in 11 U.S.C.
§ 101, as heretofore or hereafter amended), including, without limitation, an
interest rate exchange, collar, cap, adjustable strike cap, adjustable strike
corridor or similar agreement entered into by any Borrower or Guarantor with any
individual Lender in order to provide protection to, or minimize the impact
upon, any Borrower and/or the Guarantor of increasing floating rates of interest
applicable to some or all of the Loans.

3.             Borrowing Base Availability.  Notwithstanding anything to the
contrary contained in Section 3.3.2.4 of the Loan Agreement, the maximum
Borrowing Base Availability attributable to Asset Class (ii), including models,
determined on the basis of any Borrowing Base Certificate that is provided in
accordance with Section 3.4 and (a) is dated as of a date that is on

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or after March 31, 2007 and (b) is dated as of a date that is on or before
August 31, 2007 shall not exceed the lesser of (a) $105,000,000 or (b) 45% of
the aggregate Borrowing Base Availability attributable to Asset Classes (i) and
(ii) as shown on such Borrowing Base Certificate.  The maximum Borrowing Base
Availability attributable to Asset Class (ii), including models, determined on
the basis of any Borrowing Base Certificate that is dated as of a date that is
after August 31, 2007, shall not exceed 30% of the aggregate Borrowing Base
Availability attributable to Asset Classes (i) and (ii) as shown on such
Borrowing Base Certificate.  Lenders acknowledge and agree that Borrowers may,
within five Business Days after the Effective Date, pursuant to Section 3.4 of
the Agreement, submit to Agent an amended and restated Borrowing Base
Certificate dated as of March 31, 2007 providing information as of that date and
reflecting the terms conditions and provisions of the Agreement (including
without limitation this Amendment) and that the Borrowing Base Availability as
of March 31, 2007 shall be determined on the basis of any such amended and
restated Borrowing Base Certificate and otherwise in accordance with the
Agreement and this Amendment.

4.                                      Debt Service Coverage Ratio.  Section
8.1.2 of the Agreement is hereby deleted, as of the Effective Date, and the
following is inserted in its place:

8.1.2                       As of the last day of each of the following Fiscal
Quarters, for the Relevant Accounting Period then ended, the ratio of (i) the
sum of (a) Guarantor’s Adjusted EBITDA plus (b) non-cash charges and expenses
(including, but not limited to, inventory impairment, abandoned project charges
and stock option expense) plus (c) extraordinary losses plus (d) net income from
Joint Ventures up to the amount of cash actually distributed to Guarantor minus
(e) non-cash credits minus (f) extraordinary gains to (ii) Debt Service shall be
greater than or equal to the following applicable ratios:

Fiscal Quarters Ended

 

Minimum Required Ratio-

March 31, 2007

 

1.30:1

June 30, 2007

 

0.50:1

September 30, 2007

 

1.50:1

December 31, 2007

 

1.50:1

March 31, 2008

 

1.65:1

June 30, 2008

 

1.80:1

September 30, 2008

 

1.80:1

If the Maturity Date is postponed pursuant to Section 2.13:

 

 

December 31, 2008

 

1.80:1

Last day of each subsequent Fiscal Quarter

 

2.25:1

 

5.                                      Net Worth. Section 8.2 of the Loan
Agreement is hereby deleted, as of the Effective Date, and the following is
inserted in its place:

8.2           Consolidated Tangible Net Worth.  Guarantor shall maintain a
minimum Consolidated Tangible Net Worth that (i) on March 31, 2007, is at least
$205,000,000 and (ii) at

2

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all times after March 31, 2007, is equal to an amount that is not less than the
sum of (a) $205,000,000, plus (b) an amount equal to fifty percent (50%) of the
positive net income of Guarantor earned during each Fiscal Quarter that ends
after March 31, 2007 plus (c) all of the net proceeds of equity securities
issued by Guarantor or any of its subsidiaries after March 31, 2007.

6.                                      Land.  Section 8.5.1 of the Agreement is
hereby deleted, as of the Effective Date, and the following is inserted in its
place:

8.5.1        On the last day of each Fiscal Quarter that ends on or after March
31, 2007, (i) the aggregate book value of all Approved Land and Raw Land owned
by Borrowers, Guarantor or any subsidiary of a Borrower or Guarantor shall not
exceed thirty percent (30%) of Guarantor’s Consolidated Adjusted Tangible Net
Worth and (ii) the ratio of (a) the book value of all Land owned by Borrowers,
Guarantor or any subsidiary of a Borrower or Guarantor which is not subject to a
Qualifying Agreement of Sale and on which no Unit has been constructed or is
being constructed to (b) Guarantor’s Consolidated Adjusted Tangible Net Worth
shall not exceed the following applicable ratio:

Fiscal Quarter Ending

 

Applicable Ratio

March 31, 2007

 

2.10:1

June 30, 2007

 

2.10:1

September 30, 2007

 

1.65:1

December 31, 2007

 

1.65:1

March 31, 2008 and thereafter

 

1.50:1

 

7.                                       Facility Amendment Consideration.  Upon
the effectiveness of this Amendment, Borrowers shall pay to Agent, for the
account of each of those Lenders who has executed this Amendment, a facility
amendment fee as set forth in the Fee Letter dated May 7, 2007 from Agent to
Guarantor.  Such facility amendment fee, once paid, shall not be refundable to
Borrowers in any amount or for any reason.

8.                                       No Defense.  Each of the Borrowers and
Guarantor hereby (i) ratifies and affirms their respective obligations and
liabilities under the Loan Documents to which they are a party and (ii)
represents to, and agrees with, Agent and Lenders that on the Effective Date it
has no defense, set-off or counterclaim to or against any of such liabilities or
obligations.

9.                                       Counterparts.  This Amendment may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and shall be binding upon all parties, their successors and assigns,
and all of which taken together shall constitute one and the same agreement.

10.                                 Entire Agreement.  The Agreement (as amended
by this Amendment) and the other Loan Documents contain the entire agreement and
understanding among Borrowers, Guarantor, Lenders and Agent regarding the
Facility.  All prior negotiations and discussions between or among any of the
parties hereto regarding the Facility and the terms and conditions thereof are
superseded by the Agreement (as amended by this Amendment) and the other Loan
Documents.

3

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[Signatures on the following page]

4

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement under seal
the day and year set forth above.

Master Borrower:

Greenwood Financial, Inc., a Delaware corporation

 

 

 

 

 

By:

Lawrence J. Dugan

 

 

Lawrence J. Dugan

 

 

Vice President

 

 

 

 

 

Corporate Borrowers:

Masterpiece Homes, Inc.

 

 

OHB Homes, Inc.

 

 

Orleans Corporation

 

 

Orleans Corporation of New Jersey

 

Orleans Construction Corp.

 

 

Parker & Lancaster Corporation

 

Parker & Orleans Homebuilders, Inc.

 

Sharp Road Farms, Inc.

 

 

 

 

 

 

 

By: 

Lawrence J. Dugan

 

 

Lawrence J. Dugan

 

 

Vice President

 

 

[Borrowers’ signatures continued on the following page]

5

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Limited Liability Company

 

Borrowers:

 

 

Meadows at Hyde Park, LLC

 

OPCNC, LLC

 

Orleans at Bordentown, LLC

 

Orleans at Cooks Bridge, LLC

 

Orleans at Covington Manor, LLC

 

Orleans at Crofton Chase, LLC

 

Orleans at East Greenwich, LLC

 

Orleans at Elk Township, LLC

 

Orleans at Evesham, LLC

 

Orleans at Hamilton, LLC

 

Orleans at Harrison, LLC

 

Orleans at Hidden Creek, LLC

 

Orleans at Jennings Mill, LLC

 

Orleans at Lambertville, LLC

 

Orleans at Lyons Gate, LLC

 

Orleans at Mansfield, LLC

 

Orleans at Maple Glen, LLC

 

Orleans at Meadow Glen, LLC

 

Orleans at Millstone, LLC

 

Orleans at Millstone River Preserve, LLC

 

Orleans at Moorestown, LLC

 

Orleans at Tabernacle, LLC

 

Orleans at Upper Freehold, LLC

 

Orleans at Wallkill, LLC (f/k/a Kabro of Middletown, LLC)

 

Orleans at Westampton Woods, LLC

 

Orleans at Woolwich, LLC

 

Orleans Arizona Realty, LLC (f/k/a Orleans at King Ranch, LLC)

 

Orleans DK, LLC

 

Parker Lancaster, Tidewater, LLC

 

Wheatley Meadows Associates, LLC

 

 

 

 

 

By:

LAWRENCE J. DUGAN

 

 

 

Lawrence J. Dugan

 

 

Vice President

 

 

 

[Borrowers’ signatures continued on the following page]

6

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Limited Partnership

 

Borrowers:

 

 

Brookshire Estates, L.P.(f/k/a Orleans at Brookshire Estates, L.P.)

 

Orleans at Aston, LP

 

Orleans at Falls, LP

 

Orleans at Limerick, LP

 

Orleans at Lower Salford, LP

 

Orleans at Thornbury, LP

 

Orleans at Upper Saucon, L.P.

 

Orleans at Upper Uwchlan, LP

 

Orleans at West Bradford, LP

 

Orleans at West Vincent, LP

 

Orleans at Windsor Square, LP

 

Orleans at Wrightstown, LP

 

Stock Grange, LP

 

By:

OHI PA GP, LLC, sole General Partner

 

 

 

 

 

 

 

By:

LAWRENCE J. DUGAN

 

 

Lawrence J. Dugan

 

Vice President

 

 

 

Orleans RHIL, LP

 

Realen Homes, L.P.

 

By:

RHGP, LLC, sole General Partner

 

By:

Orleans Homebuilders, Inc.,

 

Authorized Member

 

 

 

 

 

By:

GARRY HERDLER

 

 

Garry Herdler

 

Chief Financial Officer

 

 

Guarantor:

Orleans Homebuilders, Inc., a Delaware corporation

 

 

 

 

 

By:

GARRY HERDLER

 

 

Garry Herdler

 

Chief Financial Officer

 

 

 

[Lenders’ signatures on the following pages]

7

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Agent:

Wachovia Bank, National Association

 

 

 

 

 

By:

JEFFREY D. WALLACE

 

 

Jeffrey D. Wallace

 

Senior Vice President

 

8

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

WACHOVIA BANK,

 

NATIONAL ASSOCIATION

 

 

 

 

 

By:

JEFFREY D. WALLACE

 

Jeffrey D. Wallace, Senior Vice President

 

9

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

BANK OF AMERICA, N.A.

 

 

 

 

 

 

 

By:

Sean Finnegan

 

 

Name: Sean Finnegan

 

 

Title: Senior Vice President

 

10

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

SOVEREIGN BANK

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Ernest J. Kociban

 

 

Name: Ernest J. Kociban

 

 

Title: Senior Vice President

 

11

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MANUFACTURERS AND TRADERS TRUST
COMPANY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Bernard T. Shields

 

 

Name: Bernard T. Shields

 

 

 

 

Title: Vice President

 

 

 

12

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER, DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NATIONAL CITY BANK

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Brian Gallagher

 

 

Name: Brian Gallagher

 

 

 

 

Title: Vice President

 

 

 

13

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

FIRSTRUST BANK

 

 

 

 

 

 

 

By:

Gary S. Kinn

 

 

Name: Gary S. Kinn

 

 

 

 

Title: Vice President

 

 

 

14

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

GUARANTY BANK

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Linda Garcia

 

 

Name: Linda Garcia

 

 

 

 

Title: Senior Vice President

 

 

 

15

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY ____, 2007:

 

 

 

 

 

 

 

U.S. BANK NATIONAL ASSOCIATION

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

16

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CITIZENS BANK OF PENNSYLVANIA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Michael J. DiSanto

 

 

Name: Michael J. DiSanto

 

 

 

 

Title: Senior Vice President

 

 

 

17

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

COMMERCE BANK, N.A.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

Joseph L. Rago

 

 

Name: Joseph L. Rago

 

 

 

 

Title: Vice President

 

 

 

18

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY ____, 2007:

 

 

 

 

 

 

 

SUNTRUST BANK

 

 

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

19

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND

RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

REGIONS BANK, successor by merger to

 

Amsouth Bank

 

 

 

 

 

 

 

 

By:

Ronny Hudspeth

 

 

Name: Ronny Hudspeth

 

 

Title: Senior Vice President

 

20

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY ___, 2007:

 

 

 

 

 

 

 

FRANKLIN BANK, SSB

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

21

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

COMERICA BANK

 

 

 

 

 

 

 

By:

Adam Sheets

 

 

Name: Adam Sheets

 

 

 

 

Title: Account Officer

 

 

 

22

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

COMPASS BANK, an Alabama Banking Corporation

 

 

 

 

 

 

 

By:

Johana Duke Paley

 

 

Name: Johana Duke Paley

 

 

Title: Senior Vice President

 

23

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY ____, 2007:

 

 

 

 

 

 

 

JPMORGAN CHASE BANK, N.A.

 

 

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

24

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
ESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

LaSALLE BANK, N.A.

 

 

 

 

 

 

 

By:

Natalie Savitski

 

 

Name: Natalie Savitski

 

 

Title: Vice President

 

25

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LENDER SIGNATURE PAGE TO THIRD
AMENDMENT TO AMENDED AND
RESTATED REVOLVING CREDIT LOAN
AGREEMENT WITH GREENWOOD
FINANCIAL, INC. AS MASTER BORROWER,
DATED AS OF MAY 8, 2007:

 

 

 

 

 

 

 

DEUTSCHE BANK TRUST COMPANY AMERICAS

 

 

 

 

 

 

 

By:

David J. Bell

 

 

Name: David J. Bell

 

 

Title:  Managing Director

 

 

 

 

 

 

 

By:

Robert M. Wood, Jr.

 

 

Name: Robert M. Wood, Jr.

 

 

Title:  Director

 

 

26

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Schedule 1.1A  —  Schedule of Borrowers

Master:

Greenwood Financial, Inc.

 

 

Corporate:

 

 

Masterpiece Homes, Inc.

 

OHB Homes, Inc.

 

Orleans Corporation

 

Orleans Corporation of New Jersey

 

Orleans Construction Corp.

 

Parker & Lancaster Corporation

 

Parker & Orleans Homebuilders, Inc.

 

Sharp Road Farms, Inc.

 

 

Limited Liability Companies:

 

 

Meadows at Hyde Park, LLC

 

OPCNC, LLC

 

Orleans at Bordentown, LLC

 

Orleans at Cooks Bridge, LLC

 

Orleans at Covington Manor, LLC

 

Orleans at Crofton Chase, LLC

 

Orleans at East Greenwich, LLC

 

Orleans at Elk Township, LLC

 

Orleans at Evesham, LLC

 

Orleans at Hamilton, LLC

 

Orleans at Harrison, LLC

 

Orleans at Hidden Creek, LLC

 

Orleans at Jennings Mill, LLC

 

Orleans at Lambertville, LLC

 

Orleans at Lyons Gate, LLC

 

Orleans at Mansfield, LLC

 

Orleans at Maple Glen, LLC

 

Orleans at Meadow Glen, LLC

 

Orleans at Millstone, LLC

 

Orleans at Millstone River Preserve, LLC

 

Orleans at Moorestown, LLC

 

Orleans at Tabernacle, LLC

 

Orleans at Upper Freehold, LLC

 

Orleans at Wallkill, LLC (f/k/a Kabro of Middletown, LLC)

 

(Schedule of Borrowers continued on the following page)

27

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Orleans at Westampton Woods, LLC

 

Orleans at Woolwich, LLC

 

Orleans Arizona Realty, LLC (f/k/a Orleans at King Ranch, LLC)

 

Orleans DK, LLC

 

Parker Lancaster, Tidewater, LLC

 

Wheatley Meadows Associates, LLC

 

 

Limited Partnerships:

 

 

Brookshire Estates, L.P.(f/k/a Orleans at Brookshire Estates, L.P.)

 

Orleans at Aston, LP

 

Orleans at Falls, LP

 

Orleans at Limerick, LP

 

Orleans at Lower Salford, LP

 

Orleans RHIL, LP

 

Orleans at Thornbury, LP

 

Orleans at Upper Saucon, L.P.

 

Orleans at Upper Uwchlan, LP

 

Orleans at West Bradford, LP

 

Orleans at West Vincent, LP

 

Orleans at Windsor Square, LP

 

Orleans at Wrightstown, LP

 

Realen Homes, L.P.

 

Stock Grange, LP

 

28

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