EX-4.3



 Exhibit 4.3 

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, OR BY ANY SUCH NOMINEE OF THE DEPOSITORY, OR BY THE DEPOSITORY OR NOMINEE OF SUCH SUCCESSOR DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON 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 AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR
SUCH SUCCESSOR’S NOMINEE. 
  

			
	 No. 1
	 	CUSIP No.: 88947E AS9

 4.875% Senior Notes due 2027 

TOLL BROTHERS FINANCE CORP. 
 a
Delaware corporation 
 promises to pay to CEDE & CO. 

or registered assigns the principal sum of THREE HUNDRED MILLION DOLLARS ($300,000,000) on March 15, 2027 

4.875% Senior Notes due 2027 
 Interest Payment Dates:
March 15 and September 15 
 Record Dates: March 1 and September 1 

Authenticated: March 10, 2017 







 
			
	TOLL BROTHERS FINANCE CORP.
		
	By	 	  

	Name:	 	Joseph R. Sicree
	Title:	 	Senior Vice President and
		 	Chief Accounting Officer
		
	By	 	  

	Name:	 	Gregg L. Ziegler
	Title:	 	Senior Vice President and Treasurer



  
 [Signature Page to
Global Note] 








 THE BANK OF NEW YORK MELLON, as Trustee, certifies that this is one of the Securities referred to in the within
mentioned Indenture. 
  

			
	By:	 	  

		 	Authorized Signatory
	
	Dated: March 10, 2017

  

  
 [Signature Page to
Global Note] 








 TOLL BROTHERS FINANCE CORP. 

4.875% SENIOR NOTES DUE 2027 
 1. Interest. 

TOLL BROTHERS FINANCE CORP. (the “Issuer”), a Delaware corporation, promises to pay interest on the principal amount of this Security at the rate per
annum shown above. The Issuer will pay interest semiannually on March 15 and September 15 of each year, commencing on September 15, 2017, until the principal is paid or made available for payment. Interest on the Securities will
accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from March 10, 2017, provided that, if there is no existing Default in the payment of interest and if this Security is
authenticated between a Record Date referred to on the face hereof and the next succeeding interest payment date, interest shall accrue from such interest payment date. Interest will be computed on the basis of a
360-day year of twelve 30-day months. 
 2. Method of Payment. 

The Issuer will pay interest on the Securities (except defaulted interest, if any, which will be paid on such special payment date to Holders of record on such
special Record Date as may be fixed by the Issuer) to the Persons who are registered Holders of Securities at the close of business on March 1 or September 1, as the case may be, preceding such interest payment date (capitalized terms not
defined herein have the meanings given to those terms in the Indenture or the Authorizing Resolution pertaining to the Securities of the Series of which this Security is a part, as applicable). Holders must surrender Securities to a Paying Agent to
collect principal payments. The Issuer will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public and private debts. 

3. Paying Agent and Registrar. 
 Initially, The Bank of New York
Mellon (the “Trustee”) will act as Paying Agent and Registrar. The Issuer may change or appoint any Paying Agent, Registrar or co-Registrar without notice. Toll Brothers, Inc. (the
“Company”) or any of its Subsidiaries or any of their Affiliates may act as Paying Agent, Registrar or co-Registrar. 

4. Indenture. 
 The Issuer issued the Securities under an
Indenture dated as of February 7, 2012 (the “Indenture”), among the Issuer, the Company, the other Guarantors and the Trustee. The terms of the Securities and the Guarantee include those stated in the Indenture (including those terms
set forth in the Authorizing Resolution or supplemental indenture pertaining to the Securities of the Series of which this Security is a part) and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (the “TIA”)
as in effect on the date of the Indenture. The Securities and the Guarantee are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of them. 

  
 1 








 The Issuer will furnish to any Holder upon written request and without charge a copy of the Indenture and the
applicable Authorizing Resolution or supplemental indenture. Requests may be made to: Toll Brothers Finance Corp., c/o Toll Brothers, Inc., 250 Gibraltar Road, Horsham, Pennsylvania 19044, Attention: Chief Financial Officer. 

5. Optional Redemption. 
 Prior to the Par Call Date, the Issuer
may, at its option, redeem the Securities in whole at any time, or in part from time to time, by providing at least 30 but not more than 60 days’ prior notice thereof, at a redemption price equal to the greater of: 

 

	 	•	 	100% of the principal amount of the Securities being redeemed; and 

  

	 	•	 	the present value of the Remaining Scheduled Payments on the Securities being redeemed on the redemption date (assuming, for this purpose, that the Securities are scheduled to mature on the Par Call Date, discounted to
the date of redemption, on a semiannual basis, at the Treasury Rate plus 50 basis points (0.50%). 

 The Issuer will also pay accrued and
unpaid interest on the Securities being redeemed to the date of redemption. 
 On or after the Par Call Date, the Issuer may, at its option, redeem the
Securities in whole at any time, or in part from time to time, at a redemption price equal to 100% of the principal amount of the Securities being redeemed, plus accrued and unpaid interest on the principal amount of the Securities being redeemed to
the redemption date. 
 In determining the redemption price and accrued and unpaid interest, interest will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 If money sufficient to pay the
redemption price of and accrued and unpaid interest on the Securities to be redeemed is deposited with the Trustee on or before the redemption date, on and after the redemption date interest will cease to accrue on the Securities (or such portions
thereof) called for redemption and such Securities (or such portions thereof) will cease to be outstanding. 
 Notice of any redemption may, at the
Issuer’s discretion, be subject to one or more conditions precedent. In the event that any relevant condition precedent is not satisfied (or waived by the Issuer) as of the date specified for redemption in any such notice of redemption (or
amendment thereto), the Issuer may, in its discretion, rescind such notice or amend it on one or more occasions to specify another redemption date until the satisfaction (or waiver by the Issuer) of any such conditions precedent, unless such notice
is earlier rescinded by the Issuer as described above. 

  
 2 








 If less than all the Securities are to be redeemed, the Trustee shall select the Securities to be redeemed, if
the Securities are listed on a national securities exchange, in accordance with the rules of such exchange, or if the Securities are not so listed, on either a pro rata basis or by lot or by such method as the Trustee shall deem fair and
appropriate. The Trustee shall make the selection from Securities outstanding and not previously called for redemption. Securities in denominations of $2,000 may only be redeemed in whole. The Trustee may select for redemption portions (equal to
$2,000 or any integral multiple of $1,000 thereof) of the principal of Securities that have denominations larger than $2,000. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder
whose Securities are to be redeemed at the registered address of such Holder. On and after the redemption dates, interest ceases to accrue on the Securities or portions thereof called for redemption, provided that if the Issuer shall default in the
payment of such Securities at the redemption price together with accrued and unpaid interest, interest shall continue to accrue at the rate borne by the Securities. 

6. Denominations, Transfer, Exchange. 
 The Securities are in
registered form only without coupons in denominations of $2,000 and integral multiples of $1,000 thereof. A Holder may transfer or exchange Securities by presentation of such Securities to the Registrar or a
co-Registrar with a request to register the transfer or to exchange them for an equal principal amount of Securities of other denominations. The Registrar 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. The Registrar need not transfer or exchange any Security selected for redemption, except the unredeemed part thereof if the
Security is redeemed in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed. 
 7. Persons
Deemed Owners. 
 The registered Holder of this Security shall be treated as the owner of it for all purposes. 

8. Unclaimed Money. 
 If money for the payment of principal or
interest remains unclaimed for two years, the Trustee or Paying Agent will pay the money back to the Issuer at its request. After that, Holders entitled to the money must look to the Issuer for payment unless an abandoned property law designates
another Person. 
 9. Amendment, Supplement, Waiver. 
 Subject
to certain exceptions, the Indenture, the Guarantee or the Securities may be amended or supplemented by the Issuer with the consent of the Holders of at least a majority in principal amount of the outstanding Securities and any past default or
compliance with any provision relating to the Securities may be waived in a particular instance with the consent of the Holders of a majority in principal amount of the outstanding Securities. Without the consent of any Holder, the Issuer may amend
or 

  
 3 








 
supplement the Indenture, the Guarantee or the Securities to cure any ambiguity, omission, defect or inconsistency (provided such action does not adversely affect the rights of the Holders), to
evidence the succession of another Person to the Issuer or any Guarantor, to add covenants of the Issuer or of the Guarantors under Article Four of the Indenture for the benefit of the Holders or to surrender rights or powers conferred upon the
Issuer or the Guarantors by the Indenture, to add Events of Default for the benefit of the Holders, to change or eliminate any provisions of the Indenture (provided such change or elimination shall become effective only when none of the Securities
are outstanding), to add Guarantors, to provide for the acceptance of appointment by a successor Trustee or facilitate the administration of the trusts under the Indenture by more than one Trustee, to close the Indenture as to authentication and
delivery of additional Securities, to supplement Indenture provisions to permit or facilitate defeasance and discharge of the Securities (provided such action does not adversely affect the rights of the Holders), to provide that specific Indenture
provisions shall not apply to an unissued Series of Securities, to provide for uncertificated Securities in addition to or in place of certificated Securities, to create a Series and establish its terms, to remove a Guarantor, other than the
Company, which, in accordance with the terms of the Indenture, ceases to be liable in respect of the Guarantee, or to make any other change (provided such action does not adversely affect the rights of any Holder). 

10. Trustee Dealings with the Company. 
 The Bank of New York
Mellon, the Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it
were not Trustee. 
 11. Discharge of Indenture. 
 The
Indenture contains certain provisions pertaining to defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 
 12.
No Recourse against Others. 
 A director, officer, employee or stockholder, as such, of the Issuer shall not have any liability for any obligations of the
Issuer under the Securities or the Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of
the consideration for the issue of the Securities. 
 13. Authentication. 

This Security shall not be valid until the Trustee signs the certificate of authentication on the other side of this Security. 

14. Governing Law. 
 This Security shall be governed by and
construed in accordance with the laws of the State of New York. 

  
 4 








 15. 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). 

ASSIGNMENT FORM 
 If you, the
Holder, want to assign this Security, fill in the form below: 
 I or we assign and transfer this Security to 

 
  

(Insert assignee’s social security or tax ID number) 

 
  
  

 
 (Print or type assignee’s name,
address, and zip code) 
 and irrevocably appoint agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for
him. 
  

			
	
Date:                  
  
	  	Your signature: (Sign exactly as your name appears on theother side of this Security)

 SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements
include membership or participation in the Security 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. 

  
 5 








 GUARANTEE 

The Guarantors listed on Schedule I attached hereto (the “Guarantors”) have unconditionally guaranteed, jointly and severally on a
senior basis (such guarantee by each Guarantor being referred to herein as the “Guarantee”), (i) the due and punctual payment of the principal of and interest on the Securities, whether at maturity, by acceleration or otherwise, the
due and punctual payment of interest on the overdue principal and interest, if any, on the Securities, to the extent lawful, and the due and punctual performance of all other obligations of the Issuer to the Holders or the Trustee all in accordance
with the terms set forth in Article Nine of the Indenture and (ii) in case of any extension of time of payment or renewal of any Securities 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, partner, member, officer, director, manager, general partner, employee or incorporator, as such,
of any of the Guarantors shall have any liability under the Guarantee by reason of such Person’s status as stockholder, partner, member, officer, director, manager, general partner, employee or incorporator. Each Holder of a Security by
accepting a Security 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 Security by accepting a Security agrees that any Guarantor other than Toll
Brothers, Inc. 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. 

  
 6 








 The Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication on the Securities 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. 

 

			
	TOLL BROTHERS, INC.
		
	By:	 	  

	Name:	 	Gregg L. Ziegler
	Title:	 	Senior Vice President and Treasurer
	
	 THE GUARANTORS LISTED ON
 SCHEDULE
I, ATTACHED HERETO

		
	By:	 	  

	Name:	 	Gregg L. Ziegler
	Title:	 	Authorized Signatory
		
	 Attest:
	 	  

	 Name:
	 	 Joseph R. Sicree

	 Title:
	 	 Senior Vice President and

Assistant Secretary



  

  
 [Signature Page
to Global Note Guarantee] 








 SCHEDULE I 

The Guarantors 

 

 110-112 Third Ave. Realty Corp. 

126-142 Morgan Street Urban Renewal LLC 

134 Bay Street LLC 
 1400 Hudson LLC 

1450 Washington LLC 
 1451 Hudson LLC 

1500 Garden St. LLC 

353-357 Broadway LLC 
 353-357 Broadway Member LLC 
 700 Grove Street Urban Renewal, LLC 

89 Park Avenue LLC 
 Amwell Chase, Inc. 

Arbor Hills Development LLC 
 Arbors Porter Ranch, LLC 

Ashford Land Company, L.P. 
 Audubon Ridge, L.P. 

Belmont Country Club I LLC 
 Belmont Country Club II LLC 

Belmont Land, L.P. 
 Binks Estates Limited Partnership 

Block 255 LLC 
 Block 268 LLC 

Brier Creek Country Club I LLC 
 Brier Creek Country Club II LLC

 Broad Run Associates, L.P. 
 Byers Commercial LLC 

Byers Commercial LP 
 CC Estates Limited Partnership 

Cold Spring Hunt, L.P. 
 Coleman-Toll Limited Partnership 

Component Systems I LLC 
 Component Systems II LLC 

CWG Construction Company LLC 
 Dominion Country Club, L.P. 

Dominion Valley Country Club I LLC 
 Dominion Valley Country Club
II LLC 
 Enclave at Long Valley I LLC 
 Enclave at Long Valley
II LLC 
 ESE Consultants, Inc. 
 Estates at Princeton Junction,
L.P. 
 Fairfax Investment, L.P. 
 Fairway Valley, Inc.



 First Brandywine Investment Corp. II 

First Brandywine Investment Corp. IV 
 First Brandywine LLC I 

First Brandywine LLC II 
 First Brandywine Partners, L.P. 

First Huntingdon Finance Corp. 
 Franklin Farms G.P., Inc. 

Frenchman’s Reserve Realty, LLC 
 Goshen Road Land Company
LLC 
 Greens at Waynesborough, L.P. 
 Hatboro Road Associates
LLC 
 Hoboken Cove LLC 
 Hoboken Land I LLC 

Hoboken Land LP 
 Hockessin Chase, L.P. 

HQZ Acquisitions, Inc. 
 Jacksonville TBI Realty LLC 

Laurel Creek, L.P. 
 Liseter Land Company LLC 

Liseter, LLC 
 Long Meadows TBI, LLC 

Loudoun Valley Associates, L.P. 
 MA Limited Land Corporation 

Martinsburg Ventures, L.L.C. 
 Mizner Realty, L.L.C. 

Morgan Street JV LLC 
 Naples TBI Realty, LLC 

NC Country Club Estates Limited Partnership 
 Orlando TBI Realty
LLC 
 Placentia Development Company, LLC 
 Plum Canyon Master
LLC 
 Porter Ranch Development Co. 
 PRD Investors, Inc. 

PRD Investors, LLC 
 PT Maxwell Holdings, LLC 

PT Maxwell, L.L.C. 
 Rancho Costera LLC 

Regency at Denville LLC 
 Regency at Dominion Valley LLC 

Regency at Washington I LLC 
 Regency at Washington II LLC 

SH Homes Corporation 

 









 Shapell Hold Properties No. 1, LLC 

Shapell Homes, Inc. 
 Shapell Industries, Inc. 

Shapell Land Company, LLC 
 SI Investment Corporation 

Silverman-Toll Limited Partnership 
 Sorrento at Dublin Ranch I LP

 Sorrento at Dublin Ranch III LP 
 South Riding Amberlea LP

 South Riding Partners Amberlea LP 
 South Riding Partners,
L.P. 
 South Riding Realty LLC 
 South Riding, L.P. 

Southport Landing Limited Partnership 
 Springton Pointe, L.P.

 SR Amberlea LLC 
 SRLP II LLC 

Stone Mill Estates, L.P. 
 Swedesford Chase, L.P. 

Tampa TBI Realty LLC 
 TB Kent Partners LLC 

TB Proprietary Corp. 
 TBI/Palm Beach Limited Partnership 

Tenby Hunt, Inc. 
 The Bird Estate Limited Partnership 

The Regency Golf Club I LLC 
 The Regency Golf Club II LLC 

The Silverman Building Companies, Inc. 
 Toll Architecture I, P.A.

 Toll Architecture, Inc. 
 Toll at Brier Creek Limited
Partnership 
 Toll at Westlake, L.P. 
 Toll at Whippoorwill,
L.P. 
 Toll Austin TX II LLC 
 Toll Austin TX III LLC 

Toll Austin TX LLC 
 Toll AZ GP Corp. 

Toll BBC II LLC 
 Toll BBC LLC 

Toll Brooklyn L.P. 
 Toll Bros. of Arizona, Inc. 

Toll Bros. of North Carolina II, Inc. 
 Toll Bros. of North
Carolina III, Inc. 
 Toll Bros. of North Carolina, Inc. 
 Toll
Bros., Inc. 
 Toll Bros., Inc.



 Toll Bros., Inc. 

Toll Brothers AZ Construction Company 
 Toll Brothers AZ Limited
Partnership 
 Toll Brothers Canada USA, Inc. 
 Toll Brothers
Real Estate, Inc. 
 Toll Brothers, Inc. 
 Toll Buckeye Corp.

 Toll CA GP Corp. 
 Toll CA Holdings, Inc. 

Toll CA I LLC 
 Toll CA II, L.P. 

Toll CA III LLC 
 Toll CA III, L.P. 

Toll CA IV, L.P. 
 Toll CA IX, L.P. 

Toll CA Note II LLC 
 Toll CA V, L.P. 

Toll CA VI, L.P. 
 Toll CA VII, L.P. 

Toll CA VIII, L.P. 
 Toll CA X, L.P. 

Toll CA XI, L.P. 
 Toll CA XII, L.P. 

Toll CA XIX, L.P. 
 Toll CA XX, L.P. 

Toll CA, L.P. 
 Toll Cedar Hunt LLC 

Toll Centennial Corp. 
 Toll CO GP Corp. 

Toll CO I LLC 
 Toll CO II, L.P. 

Toll CO III, L.P. 
 Toll CO, L.P. 

Toll Corners LLC 
 Toll Corp. 

Toll CT II Limited Partnership 
 Toll CT III Limited Partnership

 Toll CT IV Limited Partnership 
 Toll CT Limited Partnership

 Toll Dallas TX LLC 
 Toll DE II LP 

Toll DE LP 
 Toll Development Company, Inc. 

Toll Diamond Corp. 
 Toll EB, LLC 

Toll Equipment, L.L.C. 

 









 Toll Estero Limited Partnership 

Toll FL GP Corp. 
 Toll FL I, LLC 

Toll FL II Limited Partnership 
 Toll FL III Limited Partnership

 Toll FL IV Limited Partnership 
 Toll FL IV LLC 

Toll FL Limited Partnership 
 Toll FL V Limited Partnership 

Toll FL V LLC 
 Toll FL VI Limited Partnership 

Toll FL VII Limited Partnership 
 Toll FL VIII Limited Partnership

 Toll FL X Limited Partnership 
 Toll FL XII Limited
Partnership 
 Toll FL XIII Limited Partnership 
 Toll Ft. Myers
Limited Partnership 
 Toll GA GP Corp. 
 Toll GA LP 

Toll Glastonbury LLC 
 Toll Golden Corp. 

Toll Granite Corp. 
 Toll Grove LP 

Toll Henderson LLC 
 Toll Hoboken LLC 

Toll Holdings, Inc. 
 Toll Houston Land LLC 

Toll Houston TX LLC 
 Toll Hudson LP 

Toll ID I LLC 
 Toll IL GP Corp. 

Toll IL HWCC, L.P. 
 Toll IL II, L.P. 

Toll IL III, L.P. 
 Toll IL IV, L.P. 

Toll IL WSB, L.P. 
 Toll IL, L.P. 

Toll IN LLC 
 Toll Jacksonville Limited Partnership 

Toll Jupiter LLC 
 Toll Land Corp. No. 10 

Toll Land Corp. No. 6 
 Toll Land Corp. No. 20 

Toll Land Corp. No. 43 
 Toll Land Corp. No. 50 

Toll Land IV Limited Partnership



 Toll Land IX Limited Partnership 

Toll Land V Limited Partnership 
 Toll Land VI Limited Partnership

 Toll Land VII LLC 
 Toll Land X Limited Partnership 

Toll Land XI Limited Partnership 
 Toll Land XIX Limited
Partnership 
 Toll Land XV Limited Partnership 
 Toll Land XVI
Limited Partnership 
 Toll Land XVIII Limited Partnership 

Toll Land XX Limited Partnership 
 Toll Land XXI Limited
Partnership 
 Toll Land XXII Limited Partnership 
 Toll Land
XXIII Limited Partnership 
 Toll Land XXV Limited Partnership 

Toll Lexington LLC 
 Toll MA Development LLC 

Toll MA Holdings LLC 
 Toll MA I LLC 

Toll MA II LLC 
 Toll MA III LLC 

Toll MA IV LLC 
 Toll MA Land II GP LLC 

Toll MA Land III Limited Partnership 
 Toll MA Land Limited
Partnership 
 Toll MA Management LLC 
 Toll MD AF Limited
Partnership 
 Toll MD Builder Corp. 
 Toll MD Builder I, L.P.

 Toll MD I, L.L.C. 
 Toll MD II Limited Partnership 

Toll MD II LLC 
 Toll MD III Limited Partnership 

Toll MD III LLC 
 Toll MD IV Limited Partnership 

Toll MD IV LLC 
 Toll MD IX Limited Partnership 

Toll MD Limited Partnership 
 Toll MD V Limited Partnership 

Toll MD VI Limited Partnership 
 Toll MD VII Limited Partnership

 Toll MD VIII Limited Partnership 
 Toll MD X Limited
Partnership 
 Toll MD XI Limited Partnership 
 Toll MI GP Corp.

 Toll MI II Limited Partnership 

 









 Toll MI III Limited Partnership 

Toll MI IV Limited Partnership 
 Toll MI Limited Partnership 

Toll MI V Limited Partnership 
 Toll MI VI Limited Partnership

 Toll Mid-Atlantic LP Company, Inc. 

Toll Mid-Atlantic Note Company, Inc. 

Toll Midwest LLC 
 Toll Midwest Note Company, Inc. 

Toll MN GP Corp. 
 Toll MN II, L.P. 

Toll MN, L.P. 
 Toll Morgan Street LLC 

Toll Naval Associates 
 Toll NC GP Corp. 

Toll NC I LLC 
 Toll NC II LP 

Toll NC III LP 
 Toll NC IV LLC 

Toll NC Note II LLC 
 Toll NC Note LLC 

Toll NC, L.P. 
 Toll NH GP Corp. 

Toll NJ Builder I, L.P. 
 Toll NJ I, L.L.C. 

Toll NJ II, L.L.C. 
 Toll NJ II, L.P. 

Toll NJ III, L.P. 
 Toll NJ III, LLC 

Toll NJ IV, L.P. 
 Toll NJ IV LLC 

Toll NJ V, L.P. 
 Toll NJ VI, L.P. 

Toll NJ VII, L.P. 
 Toll NJ VIII, L.P. 

Toll NJ XI, L.P. 
 Toll NJ XII LP 

Toll NJ, L.P. 
 Toll NJX-I
Corp. 
 Toll North LV LLC 
 Toll North Reno LLC 

Toll Northeast LP Company, Inc. 
 Toll Northeast Note Company,
Inc. 
 Toll Northeast Services, Inc. 
 Toll NV GP Corp. 

Toll NV GP I LLC



 Toll NV Holdings LLC 

Toll NV Limited Partnership 
 Toll NY II LLC 

Toll NY III L.P. 
 Toll NY IV L.P. 

Toll NY L.P. 
 Toll NY V L.P. 

Toll OH GP Corp. 
 Toll Orlando Limited Partnership 

Toll PA Builder Corp. 
 Toll PA Development LP 

Toll PA GP Corp. 
 Toll PA II GP Corp. 

Toll PA II, L.P. 
 Toll PA III GP Corp. 

Toll PA III, L.P. 
 Toll PA IV, L.P. 

Toll PA IX, L.P. 
 Toll PA Management LP 

Toll PA Twin Lakes LLC 
 Toll PA V, L.P. 

Toll PA VI, L.P. 
 Toll PA VIII, L.P. 

Toll PA X, L.P. 
 Toll PA XI, L.P. 

Toll PA XII, L.P. 
 Toll PA XIII, L.P. 

Toll PA XIV, L.P. 
 Toll PA XIX, L.P. 

Toll PA XV, L.P. 
 Toll PA XVI, L.P. 

Toll PA XVII, L.P. 
 Toll PA XVIII, L.P. 

Toll PA, L.P. 
 Toll Palmetto Corp. 

Toll Peppertree, Inc. 
 Toll Prasada LLC 

Toll Realty Holdings Corp. I 
 Toll Realty Holdings Corp. II 

Toll Realty Holdings LP 
 Toll RI GP Corp. 

Toll RI II, L.P. 
 Toll RI, L.P. 

Toll San Antonio TX LLC 
 Toll SC GP Corp. 

Toll SC II, L.P. 

 









 Toll SC III, L.P. 

Toll SC IV, L.P. 
 Toll SC, L.P. 

Toll South LV LLC 
 Toll South Reno LLC 

Toll Southeast LP Company, Inc. 
 Toll Southeast Note Company,
Inc. 
 Toll Southwest II LLC 
 Toll Southwest LLC 

Toll Southwest Note Company, Inc. 
 Toll Stonebrae LP 

Toll Stratford LLC 
 Toll SW Holding I Corp. 

Toll SW Holding LLC 
 Toll TN GP Corp. 

Toll TX GP Corp. 
 Toll TX Note LLC 

Toll VA GP Corp. 
 Toll VA II, L.P. 

Toll VA III L.L.C. 
 Toll VA III, L.P. 

Toll VA IV, L.P. 
 Toll VA L.L.C. 

Toll VA Member Two, Inc. 
 Toll VA V, L.P.



 Toll VA VI, L.P. 

Toll VA VII, L.P. 
 Toll VA VIII, L.P. 

Toll VA, L.P. 
 Toll Van Wyck, LLC 

Toll Vanderbilt II LLC 
 Toll WA GP Corp. 

Toll WA LP 
 Toll West Coast II LLC 

Toll West Coast LLC 
 Toll WestCoast Note Company, Inc. 

Toll WV GP Corp. 
 Toll WV LP 

Toll YL II, L.P. 
 Toll YL, Inc. 

Toll-Dublin, L.P. 
 Toll-Dublin, LLC 

Upper K Investors, Inc. 
 Upper K Investors, LLC 

Upper K-Shapell, LLC 

Vanderbilt Capital LLC 
 Village Partners, L.P. 

Virginia Construction Co. I, LLC 
 Virginia Construction Co. II,
LLC