SHALL BE GOVERNED BY, CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
Section 7. Headings. The headings of this Agreement are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof.
Section 8. Effect of Agreement. Except as expressly set forth herein, this
Agreement shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other provision of the Credit Agreement or any other Loan
Document, all of which are ratified and affirmed in all respects and shall
continue in full force and effect. As of the Facilities Increase Date, each
reference in the Credit Agreement to "this Agreement," "hereunder," "hereof,"
"herein," or words of like import, and each reference in the other Loan
Documents to the Credit Agreement (including, without limitation, by means of
words like "thereunder," "thereof" and words of like import), shall mean and be
a reference to the Credit Agreement as amended hereby, and this Agreement and
the Credit Agreement shall be read together and construed as a single
instrument. This Agreement shall constitute a Loan Document.
-3-
Section 9. Acknowledgement and Affirmation. Each of the Borrower and each
Guarantor hereby (i) expressly acknowledges the terms of the Credit Agreement as
amended hereby, (ii) ratifies and affirms after giving effect to this Agreement
and the Additional Commitments its obligations under the Loan Documents
(including Guaranty Agreements (as defined in the Credit Agreement)) executed by
the Borrower and/or such Guarantor and (iii) after giving effect to this
Agreement and the Additional Commitments, acknowledges renews and extends its
continued liability under all such Loan Documents and agrees such Loan Documents
remain in full force and effect.
[signature pages follow]
-4-
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first above written.
D.R. HORTON, INC.
By:
/s/ BILL W. WHEAT
Name: Bill Wheat
Title: Executive Vice President and Chief Financial Officer
C. RICHARD DOBSON BUILDERS, INC. CH INVESTMENTS OF TEXAS, INC. CHI CONSTRUCTION
COMPANY CHTEX OF TEXAS, INC. CONTINENTAL HOMES, INC. CONTINENTAL RESIDENTIAL,
INC. D.R. HORTON BAY, INC. D.R. HORTON CRUCES CONSTRUCTION, INC. D.R. HORTON,
INC. - BIRMINGHAM D.R. HORTON, INC. - CHICAGO D.R. HORTON, INC. - DIETZ-CRANE
D.R. HORTON, INC. - FRESNO D.R. HORTON, INC. - GREENSBORO D.R. HORTON, INC. -
GULF COAST D.R. HORTON, INC. - HUNTSVILLE D.R. HORTON, INC. - JACKSONVILLE D.R.
HORTON, INC. - LOUISVILLE D.R. HORTON, INC. - MINNESOTA D.R. HORTON, INC. - NEW
JERSEY D.R. HORTON, INC. - PORTLAND D.R. HORTON, INC. - SACRAMENTO D.R. HORTON,
INC. - TORREY D.R. HORTON LA NORTH, INC.
D.R. HORTON LOS ANGELES HOLDING COMPANY, INC. D.R. HORTON MATERIALS, INC. D.R.
HORTON YEN, INC. DRH CAMBRIDGE HOMES, INC. DRH CONSTRUCTION, INC. D.R. HORTON,
INC- HUTSVILLE DRH REGREM XIV, INC. DRH REG REM XV, INC. DRH REG REM XVI, INC.
DRH REGREM XVII, INC. DRH REG REM XVIII, INC. DRH REG