<PAGE>   1
                                                                   EXHIBIT 4.10


                                    EXHIBIT A
                               FORM OF GLOBAL NOTE

                              [FACE OF GLOBAL NOTE]


                                     KB HOME

                    9 1/2% Senior Subordinated Note Due 2011


 THIS NOTE IS A REGISTERED GLOBAL SECURITY UNDER THE INDENTURE DESCRIBED ON THE
 REVERSE HEREOF. AS SUCH, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART
     FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE
 TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY
 OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
            DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A
         SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

  Unless this certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to Issuer or its agent
 for registration of transfer, exchange, or payment, and any certificate issued
is registered in the name of Cede & Co. or in such other name as is requested by
an authorized representative of DTC (and any payment 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.

No. R-_____________                                        $__________________
                                                            CUSIP 48-666-KAD-1

     KB Home, a Delaware corporation (the "Issuer"), for value received, hereby
promises to pay to Cede & Co., or registered assigns, the principal sum of
________________________ Dollars at the Issuer's office or agency for said
purpose in the Borough of Manhattan, The City of New York, on February 15, 2011
in such coin or currency of the United States of America as at the time of
payment shall be legal tender for the payment of public and private debts, and
to pay interest, semi-annually on February 15 and August 15 of each year,
commencing August 15, 2001, on said principal sum in like coin or currency, at
the rate per annum set forth in the title of this Note at said office or agency
from the February 15 or the August 15, as the case may be, next preceding the
date of this Note to which interest on the Notes has been paid or duly provided
for, unless the date hereof is a date to which interest on the Notes has been
paid or duly provided for, in which case from the date of this Note, or unless
no interest has been paid or duly provided for on the Notes, in which case from
February 8, 2001, until payment of said principal



<PAGE>   2

sum has been made or duly provided for. Notwithstanding the foregoing, if the
date hereof is after February 1 or August 1, as the case may be, and before the
following February 15 or August 15, this Note shall bear interest from such
February 15 or August 15; provided, that if the Issuer shall default in the
payment of interest due on such February 15 or August 15, then this Note shall
bear interest from the next preceding February 15 or August 15 to which interest
on the Notes has been paid or duly provided for or, if no interest has been paid
or duly provided for on the Notes, from February 8, 2001. The interest so
payable on any February 15 or August 15 will, except as otherwise provided in
the Indenture referred to on the reverse hereof, be paid to the Person in whose
name this Note is registered at the close of business on the February 1 or the
August 1 preceding such February 15 or August 15, whether or not such date is a
Business Day; provided that, except as otherwise provided in the Indenture
referred to on the reverse hereof, interest may be paid, at the option of the
Issuer, by mailing a check therefor payable to the holder entitled thereto at
his last address as it appears on the Note register.

     Reference is made to the further provisions set forth on the reverse
hereof. Such further provisions shall for all purposes have the same effect as
though fully set forth at this place.

     This Note shall not be valid or obligatory until the certificate of
authentication hereon shall have been duly signed by the Trustee acting under
the Indenture.

     IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly
executed under its corporate seal.

Dated:  February 8, 2001

                                          KB HOME



                                          -------------------------------
                                          Bryan A. Binyon
                                          Vice President and Treasurer



                                          -------------------------------
                                          Kimberly N. King
                                          Corporate Secretary and Director of
                                          Corporate Legal Affairs









                                       2

<PAGE>   3

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

         This is one of the Notes referred to in the within-mentioned Senior
Subordinated Debt Indenture.

                                          SUNTRUST BANK, as Trustee



                                          By:_______________________________
                                          Authorized Officer

















                                       3

<PAGE>   4

                        [FORM OF REVERSE OF GLOBAL NOTE]

                                     KB HOME

                    9 1/2% SENIOR SUBORDINATED NOTE DUE 2011

     This Note is one of a duly authorized issue of 9 1/2% Senior Subordinated
Notes due 2011 (the "Notes") of the Issuer, issued pursuant to an indenture
dated as of November 19, 1996 (as the same may be amended or supplemented from
time to time, the "Indenture"), as such Indenture has been amended by that
certain Officers' Certificate of the Issuer dated February 8, 2001, duly
executed and delivered by the Issuer to SunTrust Bank, as successor to SunTrust
Bank, Atlanta, Trustee (herein called, together with any successor in such
capacity, the "Trustee"). Reference is hereby made to the Indenture and all
indentures supplemental thereto for a description of the rights, limitations of
rights, obligations, duties and immunities thereunder of the Trustee, the Issuer
and the Holders of the Notes.

     The indebtedness evidenced by, and the payment of the principal of and
interest on, or any other amount owing in respect of, the Notes is, to the
extent and in the manner provided in the Indenture, expressly made subordinate
and subject in right of payment to the prior payment in full of all Senior
Indebtedness (as defined in the Indenture) of the Issuer, and each Holder of
this Note, by his acceptance hereof, agrees to and shall be bound by all the
provisions of the Indenture relating to such subordination and authorizes and
directs the Trustee to take such action on his behalf as may be necessary or
appropriate to acknowledge or effectuate the subordination of the indebtedness
evidenced by this Note as provided in the Indenture and appoints the Trustee his
attorney-in-fact for any and all such purposes.

     In case an Event of Default shall have occurred and be continuing, the
principal of and accrued interest on all the Notes may be declared due and
payable, in the manner and with the effect, and subject to the conditions,
provided in the Indenture. The Indenture provides that in certain events such
declaration and its consequences may be waived by the Holders of a majority in
aggregate principal amount of the Notes then Outstanding and that, prior to any
such declaration, such Holders may waive any past default under the Indenture
and its consequences except a default in the payment of principal of or interest
on any of the Notes and subject to certain further exceptions. Any such consent
or waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders and owners of this Note and any Note which
may be issued in exchange or substitution herefor, whether or not any notation
thereof is made upon this Note or such other Notes.

     To the extent permitted by, and as provided and subject to the limitations
in, the Indenture, the Issuer and the Trustee, with the consent of the Holders
of not less than a majority in aggregate principal amount of the Notes then
Outstanding, may execute supplemental indentures adding any provisions to or
changing in any manner or eliminating any of the provisions of the Indenture or
any supplemental indenture or modifying in any manner the rights of the Holders.


                                       4


<PAGE>   5

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the place, times and rate, and in the coin and currency, herein prescribed.

     The Notes are issuable only as registered Notes without coupons in
denominations of $1,000 and any integral multiple of $1,000.

     At the office or agency of the Issuer referred to on the face hereof, and
in the manner and subject to the limitations provided in the Indenture, Notes
may be exchanged for a like aggregate principal amount of Notes of other
authorized denominations.

     Upon due presentation for registration of transfer of this Note at the
above-mentioned office or agency of the Issuer, a new Note or Notes of
authorized denominations, for a like aggregate principal amount, will be issued
to the transferee as provided in the Indenture.

     No service charge shall be made for any such transfer or any such exchange
of any Note, but the Issuer may require payment of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection therewith.

     This Note may be redeemed at the option of the Issuer in whole or in part
on any date on or after February 15, 2006 and prior to maturity, upon not less
than 30 nor more than 60 days' notice given in accordance with the provisions of
the Indenture, at the redemption prices (expressed as percentages of the
principal amount hereof) set forth below, together with accrued and unpaid
interest to the date fixed for redemption, if redeemed during the 12-month
period beginning February 15 of the years indicated below:

<TABLE>
<CAPTION>
                                   Redemption
Year                                  Price
----                                --------
<S>                                 <C>
2006.............................   104.750%
2007.............................   103.167%
2008.............................   101.583%
2009 and thereafter..............   100.000%
</TABLE>


If less than all of the Notes are called for redemption, the Trustee shall
select, in such manner as it deems appropriate and fair, the Notes (or portions
thereof) to be redeemed.

     At any time prior to February 15, 2004, the Issuer at its option may redeem
Notes in an aggregate principal amount equal to up to 35% of the original
aggregate principal amount of the Notes (including any Additional Notes) with
the Net Cash Proceeds of one or more Equity Offerings, at any time or from time
to time, at a redemption price equal to 109.5% of the principal amount plus
accrued interest to the date fixed for redemption; provided that Notes with an
aggregate principal amount equal to at least $162,500,000 remain outstanding
after each such redemption; and provided further that notice of any such
redemption is mailed within 60 days after the closing date of the applicable
Equity Offering and in any event, not less than 30 nor more than 60 days prior
to the applicable redemption date, all in accordance with the requirements of
the Indenture.


                                       5



<PAGE>   6

     Subject to payment by the Issuer of a sum sufficient to pay the amount due
on redemption, interest on this Note (or portion hereof if this Note is redeemed
in part) shall cease to accrue upon the date duly fixed for redemption of this
Note (or portion hereof if this Note is redeemed in part).

     If at any time there occurs a Change of Control with respect to the Issuer,
each Holder of Notes will have the right, at such Holder's option, to require
the Issuer to repurchase all of such Holder's Notes, or a portion thereof which
is $1,000 or any integral multiple thereof, on the date (the "Change of Control
Repurchase Date") that is 30 Change of Control Business Days after the date of
the Change of Control at a price equal to 101% of the principal amount thereof,
plus accrued and unpaid interest to the Change of Control Repurchase Date, all
upon the terms and subject to the conditions set forth in the Indenture.

     The Indenture includes a number of restrictive covenants affecting the
Issuer and certain of its subsidiaries. These restrictive covenants are subject
to a number of important qualifications and exceptions and reference is made to
the Indenture for a description thereof.

     The Issuer, the Trustee, and any agent of the Issuer or the Trustee, may
deem and treat the Holder hereof as the absolute owner of this Note (whether or
not this Note shall be overdue and notwithstanding any notation of ownership or
other writing hereon), for the purpose of receiving payment of, or on account
of, the principal hereof and, subject to the provisions in the Indenture,
interest hereon and for all other purposes, and neither the Issuer nor the
Trustee nor any agent of the Issuer or the Trustee shall be affected by any
notice to the contrary.

     No recourse under or upon any obligation, covenant or agreement contained
in the Indenture or in this Note or because of any indebtedness evidenced hereby
shall be had against any incorporator, shareholder, officer or director, as
such, past, present or future, of the Issuer or of any successor corporation,
either directly or through the Issuer or any successor corporation, under any
rule of law, statute or constitutional provision or by the enforcement of any
assessment or otherwise, all such liability being (to the extent permitted by
law), by the acceptance hereof and as part of the consideration for the issue
hereof, expressly waived and released.

     Certain of the Issuer's obligations under this Note and under the Indenture
with respect to the Notes may be terminated if the Issuer irrevocably deposits
with the Trustee money or U.S. Government Obligations sufficient to pay and
discharge the entire indebtedness on all of the Notes, all upon the terms and
subject to the conditions set forth in the Indenture.

     This Note shall be governed by and construed in accordance with the laws of
the State of New York.

     Terms (whether or not capitalized) used in this Note and not defined herein
which are defined in the Indenture shall have the respective meanings ascribed
thereto in the Indenture.

                                  ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of
this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations.




                                       6


<PAGE>   7


         TEN COM--as tenants in common
         TEN ENT--as tenants by the entireties
         JT TEN --as joint tenants with right of survivorship and not as
                  tenants in common

         UNIF GIFT MIN ACT--................... Custodian.....................
                            (Cust)                       (Minor)
         under Uniform Gifts to Minors Act  ..................................
                                                         (State)

         Additional abbreviations may also be used though not in the above list.

                            ASSIGNMENT/TRANSFER FORM

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and
transfer(s) unto (Please Insert Social Security or Other Identifying Number of
Assignee)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------


the within Note and all rights thereunder, hereby irrevocably constituting and
appointing

--------------------------------------------------------------------------------
attorney to transfer said Note on the books of the Issuer, with full power of
substitution in the premises.

Dated:     ________________________________________________________________
           NOTICE: The signature to this assignment must correspond with the
           name as written upon the face of the within instrument in every
           particular, without alteration or enlargement or any change whatever.

Signature Guaranteed:

-----------------------------------------
The signature should be guaranteed by a
commercial bank or a member broker of
either the New York Stock Exchange,
American Stock Exchange, Midwest Stock
Exchange or Pacific Coast Stock Exchange.





                                       7