# EDGAR Filing Document

**Accession Number:** 0001721386
**File Stem:** 0001731122-25-000818
**Filing Date:** 2025-6
**Character Count:** 37884
**Document Hash:** 19bbd5c5463d90b659c7d5971028cf46
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001731122-25-000818.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001731122-25-000818

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250529

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Landsea Homes Corp
- **CENTRAL INDEX KEY:** 0001721386
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATIVE BUILDERS [1531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 822196021
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38545
- **FILM NUMBER:** 251014800

**BUSINESS ADDRESS:**
- **STREET 1:** 1717 MCKINNEY AVENUE
- **STREET 2:** SUITE 1000
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202
- **BUSINESS PHONE:** (949) 345-8080

**MAIL ADDRESS:**
- **STREET 1:** 1717 MCKINNEY AVENUE
- **STREET 2:** SUITE 1000
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LF Capital Acquisition Corp.
- **DATE OF NAME CHANGE:** 20171101

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of**

**The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): May 29, 2025**

**Landsea Homes Corporation**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-38545** | **82-2196021** |
| **(State or other jurisdiction of incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **1717 McKinney Avenue, Suite 1000<br> Dallas, TX** | **75202** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

---

| |
|:---|
| **(949) 345-8080** |
| **Registrant's telephone number, including area code** |

---

**Not Applicable**

**(Former name or former address, if changed since last report.)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.0001 per share | LSEA | The Nasdaq Capital Market |
| Warrants exercisable for Common Stock | LSEAW | The Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry Into a Material Definitive Agreement**

On May 29, 2025, Landsea Homes Corporation (the "Company"), certain subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association (the "Trustee"), as trustee, entered into a Third Supplemental Indenture, dated as of such date (the "Third Supplemental Indenture"), to that certain Indenture dated April 1, 2024, among the Company, certain subsidiary guarantors party thereto and the Trustee (as supplemented, the "Indenture"), governing the Company's 8.875% Senior Notes due 2029 (the "Notes").

The Third Supplemental Indenture was entered into to effectuate certain amendments (the "Proposed Amendments") to the Indenture as further detailed below, for which consents were solicited in the cash tender offer (the "Tender Offer") and consent solicitations ("Consent Solicitation") with respect to the Notes previously announced by Lido Merger Sub, Inc. ("Merger Sub") as further detailed in the Company's Offer to Purchase and Consent Solicitation Statement, dated May 13, 2025 (as amended or supplemented from time to time, the "Statement"). As of 5:00 p.m., New York City time, on May 29, 2025 (the "Participation Date"), the Company had received valid consents from holders of $293,848,000 aggregate principal amount of the Notes, representing approximately 97.95% of the total outstanding principal amount of the Notes, which amount was sufficient to constitute the requisite consents to approve the Proposed Amendments in accordance with the terms of the Indenture. Following the Participation Date, the consents received cannot be revoked, except as required by law.

The Third Supplemental Indenture amends the Indenture to, among other things, eliminate from the Indenture (i) any obligation to make a "change of control offer" in connection with the Merger (as defined below), (ii) substantially all of the other restrictive covenants and (iii) certain events of default and other provisions contained in the Indenture. The Third Supplemental Indenture became effective upon execution but will only become operative when the Notes are accepted for purchase by Merger Sub pursuant to the terms of the Tender Offer and Consent Solicitation, which include the satisfaction of certain conditions as set forth in the Statement, including the satisfaction of the previously announced proposed merger (the "Merger") of the Company with Merger Sub and a financing condition.

The foregoing description of the Third Supplemental Indenture is a summary and is qualified in its entirety by reference to the Third Supplemental Indenture, a copy of which is attached hereto as Exhibit 4.1 and is incorporated by reference into this Item 1.01.

**Item 9.01 Financial Statements and Exhibits**

(d) *Exhibits*

---

| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| 4.1 | [Third Supplemental Indenture, dated May 29, 2025, by and among Landsea Homes Corporation, the guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee.](e6631_ex4-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: June 2, 2025

---

| | |
|:---|:---|
| **Landsea Homes Corporation** | **Landsea Homes Corporation** |
| By: | /s/ Chris Porter |
| Name: | Chris Porter |
| Title: | Chief Financial Officer |

---

## Exhibit 4.1

**EXHIBIT 4.1**

**THIRD SUPPLEMENTAL INDENTURE**

THIRD SUPPLEMENTAL INDENTURE, dated as of May 29, 2025 (this "<u>Supplemental Indenture</u>"), by and among Landsea Homes Corporation, a Delaware corporation (the "<u>Issuer</u>"), the guarantors party hereto (the "<u>Guarantors</u>") and U.S. Bank Trust Company, National Association, as trustee (the "<u>Trustee</u>").

W I T N E S S E T H

WHEREAS, that certain Indenture, dated as of April 1, 2024, among the Issuer, the guarantors party thereto and the Trustee, as supplemented by the First Supplemental Indenture, dated as of April 1, 2024, by Antares Acquisition, LLC, and the Second Supplemental Indenture, dated as of May 21, 2025, by Landsea Development Texas LLC (the "<u>Indenture</u>"), provided for the issuance of the Issuer's 8.875% Senior Notes due 2029 (the "<u>Notes</u>");

WHEREAS, Section 9.02 of the Indenture provides, *inter alia*, that, in certain circumstances, the Issuer, the Guarantors and the Trustee may amend the Indenture and the Notes with the written consent of the holders of at least a majority in principal amount of the Notes then outstanding voting as a single class (including consents obtained in connection with a tender offer or exchange for the Notes) (the "<u>Requisite Consents</u>");

WHEREAS, the Issuer has entered into the Agreement and Plan of Merger, dated as of May 12, 2025 (the "<u>Merger Agreement</u>"), by and among the Issuer, Lido Holdco, Inc. and Lido Merger Sub, Inc. ("<u>Merger Sub</u>");

WHEREAS, in connection with the transactions contemplated by the Merger Agreement, Merger Sub has distributed an Offer to Purchase and Consent Solicitation Statement, dated May 13, 2025 (the "<u>Statement</u>"), to the holders of the Notes in connection with the offer to purchase for cash any and all of the outstanding Notes, and the concurrent solicitation of such holders' consents, voting as a single class (the "<u>Consents</u>") to certain proposed amendments to the Indenture as further described in the Statement (the "<u>Proposed Amendments</u>");

WHEREAS, the holders of approximately 97.95% in principal amount of the Notes outstanding (excluding any Notes owned by the Issuer or its affiliates) have validly tendered Consents and not validly withdrawn their Consents to the adoption of all of the Proposed Amendments effected by this Supplemental Indenture in accordance with the provisions of the Indenture, and evidence of such consents has been provided by the Issuer to the Trustee;

WHEREAS, the board of directors of the Issuer and the authorizing body of each Guarantor has approved the Proposed Amendments and execution of this Supplemental Indenture;

WHEREAS, the Issuer and the Guarantors, having received the Requisite Consents from the holders of the outstanding Notes, pursuant to Section 9.02 of the Indenture, desire to amend the Indenture and the Notes to effect the Proposed Amendments;

WHEREAS, in accordance with Sections 7.02, 9.05, 11.04 and 11.05 of the Indenture, the Issuer has delivered to the Trustee an Officer's Certificate and an Opinion of Counsel with respect to this Supplemental Indenture on the date hereof; and

WHEREAS, pursuant to Sections 9.02 and 9.05 of the Indenture, together with receipt of the Requisite Consents, the Trustee is authorized to execute and deliver this Supplemental Indenture.

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, in order to effect the Proposed Amendments, the parties mutually covenant and agree as follows:

**ARTICLE I<br> Defined Terms**

Section 1.1 <u>Capitalized Terms</u>. Capitalized terms used herein without being defined herein shall have the meanings assigned to them in the Indenture.

Section 1.2 <u>Certain Definitions</u>. Any definitions used exclusively in the provisions of the Indenture or Notes that are deleted pursuant to the amendments set forth under this Supplemental Indenture, and any definitions used exclusively within such definitions, are hereby deleted in their entirety from the Indenture and the Notes, and all textual references in the Indenture and the Notes exclusively relating to paragraphs, Sections, Articles or other terms or provisions of the Indenture that have been otherwise deleted pursuant to this Supplemental Indenture are hereby deleted in their entirety.

**ARTICLE II<br> Amendments to the Indenture and the Notes**

Pursuant to Section 9.02 of the Indenture, the Issuer, the Guarantors and the Trustee (in the case of the Trustee, acting in reliance upon the instructions and directions of the Holders of the Requisite Consents obtained pursuant to the Statement) hereby agree to amend or supplement certain provisions of the Indenture, as follows:

Section 2.1 <u>Amendments to Article IV—Covenants</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Section 4.02 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.02. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Section 4.03 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.03. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Section 4.04 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.04. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Section 4.05 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.05. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Section 4.06 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.06. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Section 4.07 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.07. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Section 4.08 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.08. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Section 4.10 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.10. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Section 4.11 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.11. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Section 4.12 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.12. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Section 4.13 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.13. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Section 4.14 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.14. [Reserved]."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Section 4.15 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"SECTION 4.15. [Reserved]."

Section 2.2 <u>Amendments to Article V—Successor Company</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The proviso to clause (1) of Section 5.01(a) of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"[Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Clause (2) of Section 5.01(a) of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(2) [Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Clause (3) of Section 5.01(a) of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(3) [Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Clause (2) of Section 5.01(b) of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(2) [Reserved];"

Section 2.3 <u>Amendments to Article VI—Defaults and Remedies</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Clause (3) of Section 6.01 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(3) [Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Clause (4) of Section 6.01 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(4) [Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Clause (5) of Section 6.01 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(5) [Reserved];"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Clause (6) of Section 6.01 of the Indenture is hereby deleted and amended and restated to read in its entirety as set forth below:

"(6) [Reserved];"

**ARTICLE III<br> Effectiveness**

Section 3.1 <u>Effectiveness</u>. This Supplemental Indenture shall become a binding agreement between the parties hereto and effective when executed by the parties hereto. Notwithstanding the foregoing sentence, the amendments to the Indenture set forth in Article II herein shall become operative only at the time and date at which the Notes representing the Requisite Consents that are validly tendered (and not validly withdrawn at or prior to the Withdrawal Deadline (as defined in the Statement)) are accepted for purchase by Merger Sub pursuant to, and subject to the terms and conditions set forth in, the Statement. The Issuer shall notify the Trustee in writing (which may be via email) promptly after the occurrence of such acceptance for purchase or promptly after Merger Sub has publicly stated that such acceptance for purchase will not occur.

**ARTICLE IV<br> Miscellaneous**

Section 4.1 <u>Notes; Corresponding Amendments</u>. Amendments to the Indenture pursuant to this Supplemental Indenture shall also apply to the Notes. Pursuant to Section 13 of each Global Note, with effect on and from the date hereof, each Global Note shall be deemed supplemented, modified and amended in such manner as necessary to make the terms of such Global Note consistent with the terms of the Indenture, as amended by this Supplemental Indenture (including, for the avoidance of doubt, Section 3.1 hereof).

Section 4.2 <u>Incorporation</u>. All provisions of this Supplemental Indenture shall be deemed to be incorporated in, and made a part of, the Indenture, and the Indenture, as amended and supplemented by this Supplemental Indenture, shall be read, taken and construed as one and the same instrument.

Section 4.3 <u>Third Parties</u>. Nothing in this Supplemental Indenture, express or implied, shall give to any Person, other than the parties hereto and their successors under the Indenture and the Holders of the Notes, any benefit or any legal or equitable right, remedy or claim under the Indenture.

Section 4.4 <u>Governing Law</u>. **THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO THE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW**.

Section 4.5 <u>Counterparts</u>. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Supplemental Indenture. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or other electronic format (e.g., ".pdf" or ".tif") transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format (e.g., ".pdf" or ".tif") shall be deemed to be their original signatures for all purposes.

Section 4.6 <u>Effect of Headings</u>. The Article and Section headings herein are for convenience only and shall not affect the construction hereof.

Section 4.8 <u>Successors</u>. All agreements of the Issuer in this Supplemental Indenture shall bind its successors, except as otherwise provided in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

Section 4.9 <u>Severability Clause</u>. In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

Section 4.10 <u>Ratification of Indenture; Supplemental Indenture; Part of Indenture</u>. Except as expressly amended hereby, the Indenture, as amended by this Supplemental Indenture, is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

[*Remainder of page intentionally left blank*.]

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first written above.

---

| | |
|:---|:---|
| **ISSUER** | **ISSUER** |
| LANDSEA HOMES CORPORATION | LANDSEA HOMES CORPORATION |
| By: | /s/ Chris Porter |
| Name: | Chris Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

**GUARANTORS**

**LANDSEA HOMES US CORPORATION**, a Delaware corporation

**LANDSEA HOMES- WAB 2 LLC**, a Delaware limited liability company

**GARRETT WALKER HOMES, LLC**, an Arizona limited liability company

**AV1, LLC**, an Arizona limited liability company

**GWH NCC, LLC**, an Arizona limited liability company

**GWH MOUNTAIN VIEWS, LLC**, an Arizona limited liability company

**BETHANY RANCH, LLC**, an Arizona limited liability company

**GWH GRAND VILLAGE, LLC**, an Arizona limited liability company

**GWH NCC-71, LLC**, an Arizona limited liability company

**GWH PARK FOREST, LLC**, an Arizona limited liability company

**GWH WEST POINTE ESTATES, LLC**, an Arizona limited liability company

**GWH WEST POINTE VILLAGE, LLC**, an Arizona limited liability company

**GWH TRENTON PARK, LLC**, an Arizona limited liability company

**GWH SUNDANCE, LLC**, an Arizona limited liability company

**GWH NORTHERN FARMS, LLC**, an Arizona limited liability company

**GWH NCC 13 & 14, LLC**, an Arizona limited liability company

**ACOMA COURT, LLC**, an Arizona limited liability company

**Pinnacle West Homes M72 LLC**, an Arizona limited liability company

**GWH SUNSET FARMS, LLC**, an Arizona limited liability company

**GWH NCC 9 & 11, LLC**, an Arizona limited liability company

**GWH SUNRISE, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES CENTERRA LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES DESTINY LLC**, an Arizona limited liability company

**LS-VERRADO VICTORY DUPLEX LLC**, a Delaware limited liability company

**LS-EASTMARK V LLC**, a Delaware limited liability company

**LS-VEH COUNTRY CLUB LAKES LLC**, a Delaware limited liability company

**LS-VEH EAGLE CREST LLC**, a Florida limited liability company

**LS-VEH GEORGIANA RESERVE LLC**, a Delaware limited liability company

**LS-VEH ST. JOHN'S LLC**, a Delaware limited liability company

**LS-VEH HALIFAX ESTATE LLC**, a Delaware limited liability company

**LS-VEH HALIFAX BULOW LLC**, a Delaware limited liability company

**LS-VEH LAKE HELEN LLC**, a Delaware limited liability company

**LS-VEH REDTAIL LLC**, a Delaware limited liability company

**LS-VEH LLC**, a Delaware limited liability company

**LS-VEH 2 LLC**, a Delaware limited liability company

**LS-VEH TX LLC**, a Delaware limited liability company

**LS-VEH TX 2 LLC**, a Delaware limited liability company

**LS-VEH JUNCTION LLC**, a Delaware limited liability company

---

| | |
|:---|:---|
| By: | /s/ Chris Porter |
| Name: | Christopher Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

**LS-FL COURTYARDS AT WATERSTONE LLC**, a Delaware limited liability company

**LANDSEA HOMES- WAB LLC**, a Delaware limited liability company

**LS MANAGER VALE LLC**, a Delaware limited liability company

**LS-SUNNYVALE LLC**, a California limited liability company

**THE VALE PA-1 OWNER, LLC**, a Delaware limited liability company

**THE VALE PA-2 OWNER, LLC**, a Delaware limited liability company

**THE VALE PA-3 OWNER, LLC**, a Delaware limited liability company

**LS-MILPITAS LLC**, a Delaware limited liability company

**LS-LIDO LLC**, a Delaware limited liability company

**LS-NEWARK LLC**, a Delaware limited liability company

**LS-CHANDLER LLC**, a Delaware limited liability company

**LS-CHATSWORTH LLC**, a Delaware limited liability company

**LS-ONTARIO II LLC**, a Delaware limited liability company

**LS-ONTARIO LLC**, a Delaware limited liability company

**PINNACLE WEST HOMES E92 LLC**, an Arizona limited liability company

**LS-EASTMARK LLC**, a Delaware limited liability company

**LS-TRACY LLC**, a Delaware limited liability company

**LS-GOODYEAR LLC**, a Delaware limited liability company

**LS-ANAHEIM LLC**, a Delaware limited liability company

**LS-925 WOLFE LLC**, a Delaware limited liability company

**LS-BENTRIDGE LLC**, a Delaware limited liability company

**LS-51 PEORIA LLC**, a Delaware limited liability company

**MERCEDES PREMIER HOMES, LLC**, a Florida limited liability company

**MERCEDES PREMIER HOMES JACKSONVILLE LLC**, a Florida limited liability company

**MERCEDES PREMIER HOMES MELBOURNE LLC**, a Florida limited liability company

**VINTAGE ESTATE HOMES LLC**, a Florida limited liability company

**VINTAGE ESTATE HOMES OF TEXAS LLC**, a Florida limited liability company

**MERCEDES PREMIER REALTY, LLC**, a Florida limited liability company

**COUNTRY CLUB LAKES DEVELOPERS, LLC**, a Florida limited liability company

**HERITAGE POINT COMMUNITY DEVELOPERS LLC**, a Florida limited liability company

**THOUSAND OAKS DEVELOPMENT, LLC**, a Florida limited liability company

**GEORGIANA COMMUNITY DEVELOPERS LLC**, a Florida limited liability company

**THE JUNCTION COMMUNITY DEVELOPERS LLC**, a Florida limited liability company

**LANDSEA URBAN LLC**, a Delaware limited liability company

**LANDSEA CONSTRUCTION INC.**, a Delaware corporation

**LANDSEA CONSTRUCTION LLC**, a California limited liability company

**LANDSEA CONSTRUCTION ARIZONA INC.**, a Delaware corporation

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| | |
|:---|:---|
| By: | /s/ Chris Porter |
| Name: | Christopher Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

**LANDSEA REAL ESTATE INC.**, a California corporation

**LANDSEA REAL ESTATE, NEW JERSEY, L.L.C.**, a Delaware limited liability company

**LANDSEA REAL ESTATE CALIFORNIA, INC.**, a California corporation

**LANDSEA REAL ESTATE ARIZONA INC.**, a Delaware corporation

**LANDSEA HOMES OF CALIFORNIA LLC**, a Delaware limited liability company

**LS-SANTA CLARA LLC**, a Delaware limited liability company

**LS-DANVILLE LLC**, a Delaware limited liability company

**LS-WALNUT CREEK LLC**, a California limited liability company

**LS-SF JORDAN RANCH LLC**, a California limited liability company

**LS-NOVATO LLC**, a Delaware limited liability company

**LS-WILDER LLC**, a Delaware limited liability company

**LS-ALAMEDA MARINA LLC**, a Delaware limited liability company

**LS-SAN JUAN LLC**, a Delaware limited liability company

**LS-PLACENTIA LLC**, a Delaware limited liability company

**LS-FONTANA LLC**, a Delaware limited liability company

**LS-LA SIMI MEZZ LLC**, a Delaware limited liability company

**LS-LA SIMI LLC**, a California limited liability company

**LS-OC PORTOLA LLC**, a California limited liability company

**PORTOLA PA-1 MEZZ OWNER LLC**, a Delaware limited liability company

**PORTOLA PA-1 OWNER, LLC**, a Delaware limited liability company

**PORTOLA PA-3 MEZZ OWNER LLC**, a Delaware limited liability company

**PORTOLA PA-3 OWNER, LLC**, a Delaware limited liability company

**PORTOLA PA-4 MEZZ OWNER LLC**, a Delaware limited liability company

**PORTOLA PA-4 OWNER, LLC**, a Delaware limited liability company

**PORTOLA PA-5 MEZZ OWNER LLC**, a Delaware limited liability company

**PORTOLA PA-5 OWNER, LLC**, a Delaware limited liability company

**PORTOLA PA-5B MEZZ OWNER LLC**, a Delaware limited liability company

**PORTOLA PA-5B OWNER, LLC**, a Delaware limited liability company

**LANDSEA HOMES OF TEXAS LLC**, a Delaware limited liability company

**LANDSEA HOMES OF FLORIDA LLC**, a Delaware limited liability company

**LANDSEA HOMES OF ARIZONA LLC**, a Delaware limited liability company

**LS-NORTH PHOENIX LLC**, a Delaware limited liability company

**LS-QUEEN CREEK LLC**, a Delaware limited liability company

**LS-QUEEN CREEK II LLC**, a Delaware limited liability company

**LS-VERRADO MARKETSIDE LLC**, a Delaware limited liability company

**LS-CITRUS PARK LLC**, a Delaware limited liability company

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| | |
|:---|:---|
| By: | /s/ Chris Porter |
| Name: | Christopher Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

**GWH HOLDINGS, LLC**, an Arizona limited liability company

**LANDSEA DEVELOPMENT ARIZONA LLC**, an Arizona limited liability company

**JJAZ CONSTRUCTION, LLC**, an Arizona limited liability company

**GW SALES, LLC**, an Arizona limited liability company

**54 WINDSOR, LLC**, an Arizona limited liability company

**ALICE PARK, LLC**, an Arizona limited liability company

**SUMMERS PLACE AT BASELINE, LLC**, an Arizona limited liability company

**THE GROVE AT BASELINE, LLC**, an Arizona limited liability company

**THE RIDGE, LLC**, an Arizona limited liability company

**TOWNLEY PARK, LLC**, an Arizona limited liability company

**SFGW, LLC**, an Arizona limited liability company

**OLIVE PARK, LLC**, an Arizona limited liability company

**PARADISE 21, LLC**, an Arizona limited liability company

**SGCR, LLC**, an Arizona limited liability company

**SMGWH, LLC**, an Arizona limited liability company

**CDR11, LLC**, an Arizona limited liability company

**GRAND MANOR, LLC**, an Arizona limited liability company

**GWH CANTADA, LLC**, an Arizona limited liability company

**HEARN MANOR, LLC**, an Arizona limited liability company

**HNM, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES HOLDING LLC**, a Delaware limited liability company

**A & J COMPANIES, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES AND DEVELOPMENT, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES ALAMAR LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES ENCANTA LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES HIGHLANDS LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES E-69 LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES E70 LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES M71 LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES E44, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES V117, LLC**, an Arizona limited liability company

**PINNACLE WEST HOMES E48 LLC**, an Arizona limited liability company

---

| | |
|:---|:---|
| By: | /s/ Chris Porter |
| Name: | Christopher Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

**HANOVER FAMILY BUILDERS, LLC**, a Florida limited liability company

**HFB ARDMORE PHASE III, LLC**, a Florida limited liability company

**HFB CELERY AVENUE, LLC**, a Florida limited liability company

**HFB CYPRESS HAMMOCK, LLC**, a Florida limited liability company

**HFB CYPRESS OAKS, LLC**, a Florida limited liability company

**HFB ORCHID TERRACE, LLC**, a Florida limited liability company

**HFB PRESERVATION POINTE LLC**, a Florida limited liability company

**HFB RIDGEVIEW LLC**, a Florida limited liability company

**HFB SKY VENTURES, LLC**, a Florida limited liability company

**HFB FIRST PLACE, LLC**, a Florida limited liability company

**HFB SUNRISE, LLC**, a Florida limited liability company

**HFB GREENFIELD, LLC**, a Florida limited liability company

**HFB HORSE CREEK, LLC**, a Florida limited liability company

**HFB TRINITY LAKES, LLC**, a Florida limited liability company

**HFB WILLIAMS PRESERVE, LLC**, a Florida limited liability company

**HFB LAKES, LLC**, a Florida limited liability company

**HFB WIREGRASS PARTNER, LLC**, a Florida limited liability company

**PSH PARTNERSHIP, LLC**, a Florida limited liability company

**WILLIAMS PRESERVE PHASE III, LLC**, a Florida limited liability company

**HFB BERESFORD WOODS, LLC**, a Florida limited liability company

**HFB KENTUCKY SQUARE, LLC**, a Florida limited liability company

**HFB HAMMOCK RESERVE, LLC**, a Florida limited liability company

**THOMPSON ROAD, LLC**, a Florida limited liability company

**HFB Marion Ridge, LLC**, a Florida limited liability company

**HFB Trinity Place, LLC**, a Florida limited liability company

**Hanover Sunrise Ridge** **, LLC**, a Florida limited liability company

**LS-14 AVE MEMBER LLC**, a Delaware limited liability company

**LS-14 AVE JV LLC**, a Delaware limited liability company

**LS-14 AVE MEZZ LLC**, a Delaware limited liability company

**LS-14 AVE LLC**, a Delaware limited liability company

**LS-Anthem LLC**, a Delaware limited liability company

**VE Homes, LLC**, a Florida limited liability company

**LS-LCF CA, LLC**, a Delaware limited liability company

**LANDSEA TITLE LLC**, a Delaware limited liability company

**HFB STOREY CREEK, LLC**, a Delaware limited liability company

**LS-SAN TAN GATEWAY LLC**, a Delaware limited liability company

**LANDSEA HOMEs of colorado LLC**, a Delaware limited liability company

**LANDSEA Insurance AGENCY LLC**, a Delaware limited liability company

**ANTARES ACQUISITION, LLC**, a Texas limited liability company

**LANDSEA DEVELOPMENT TEXAS LLC**, a Delaware limited liability company

---

| | |
|:---|:---|
| By: | /s/ Chris Porter |
| Name: | Christopher Porter |
| Title: | Chief Financial Officer |

---

[*Signature Page to Third Supplemental Indenture*]

---

| | |
|:---|:---|
| **TRUSTEE** | **TRUSTEE** |
| U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee | U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee |
| By: | /s/ Bradley E. Scarborough |
| Name: | Bradley E. Scarborough |
| Title: | Vice President |

---

[*Signature Page to Third Supplemental Indenture*]