Document:

Prepared by MerrillDirect

AGREEMENT
FOR SALE AND

PURCHASE OF ASSETS AND STOCK

dated
June 28, 2001

among

BEAZER
HOMES HOLDINGS CORP., a Delaware corporation,

BEAZER
HOMES USA, INC., a Delaware corporation,

SANFORD
HOMES OF COLORADO, LLLP,

a Colorado limited liability limited partnership,

CHARLES
H. SANFORD III and LINDA A. ELLIOTT,

and

APRIL
CORPORATION, a Colorado corporation

Table
of Contents

	Section
  1.	 	DEFINITIONS.	 
	1.1	 	“AA”	 
	1.2	 	“Acceptance
  Notice”	 
	1.3	 	“Accrual Schedule”	 
	1.4	 	“Adjustment”	 
	1.5	 	“Adverse
  Consequences”	 
	1.6	 	“Affiliate”	 
	1.7	 	“April”	 
	1.8	 	“April
  Assets”	 
	1.9	 	“April’s Business”	 
	1.10	 	“Assumed
  Liabilities”	 
	1.11	 	“Backlog Units”	 
	1.12	 	“Beazer”	 
	1.13	 	“Beazer Indemnified
  Parties”	 
	1.14	 	“Beazer SEC
  Reports”	 
	1.15	 	“Beazer
  Securities”	 
	1.16	 	“Beazer
  Stock”	 
	1.17	 	“Book
  Value”	 
	1.18	 	“Business”	 
	1.19	 	“Business Days”	 
	1.20	 	“Calculation”	 
	1.21	 	“CERCLA”	 
	1.22	 	“Closing”	 
	1.23	 	“Closing Balance
  Sheets”	 
	1.24	 	“Closing
  Date”	 
	1.25	 	“Closing Period”	 
	1.26	 	“Code”	 
	1.27	 	“Companies”	 
	1.28	 	“Companies’
  insurance policies”	 
	1.29	 	“Contracts”	 
	1.30	 	“Confidential
  Information”	 
	1.31	 	“Credit
  Liabilities”	 
	1.32	 	“Effective Date”	 
	1.33	 	“Encumbrances”	 
	1.34	 	“Environmental Law”	 
	1.35	 	“ERISA”	 
	1.36	 	“ERISA Affiliate”	 
	1.37	 	“Equity”	 
	1.38	 	“Excluded Assets”	 
	1.39	 	“Excluded
  Liabilities”	 
	1.40	 	“Existing Purchase
  Agreements”	 
	1.41	 	“Financial
  Statements”	 

 

	1.42	 	“Final Purchase
  Price”	 
	1.43	 	“GAAP”	 
	1.44	 	“High
  View”	 
	1.45	 	“Holdback”	 
	1.46	 	“Improvements”	 
	1.47	 	“Included Assets”	 
	1.48	 	“Indemnified
  Party”	 
	1.49	 	“Indemnifying
  Party”	 
	1.50	 	“Initial Purchase
  Price”	 
	1.51	 	“Insiders”	 
	1.52	 	“Intangible Property”	 
	1.53	 	“Intellectual
  Property Rights”	 
	1.54	 	“IRS”	 
	1.55	 	“Joint Ventures”	 
	1.56	 	“KPMG”	 
	1.57	 	“Land”	 
	1.58	 	“Leases”	 
	1.59	 	“Letter of Intent”	 
	1.60	 	“Licenses,
  Entitlements, and Permits”	 
	1.61	 	“New Beazer
  Employee”	 
	1.62	 	“Non-Competition
  Agreements”	 
	1.63	 	“Objection Notice”	 
	1.64	 	“Options”	 
	1.65	 	“Permitted
  Exceptions”	 
	1.66	 	“Person”	 
	1.67	 	“Personal
  Property”	 
	1.68	 	“Plans”	 
	1.69	 	“Pre-Closing Short
  Period”	 
	1.70	 	“Premium”	 
	1.71	 	“Principals”	 
	1.72	 	“Projects”	 
	1.73	 	“Purchaser”	 
	1.74	 	“Purchase Price”	 
	1.75	 	“Reference Balance
  Sheets”	 
	1.76	 	“Reference Date”	 
	1.77	 	“Reserve”	 
	1.78	 	“Restricted Area”	 
	1.79	 	“SARA”	 
	1.80	 	“Savory
  Farms Environmental Condition”	 
	1.81	 	“Seller”	 
	1.82	 	“Seller
  Indemnified Parties”	 
	1.83	 	“Seller Parties”	 
	1.84	 	“Seller’s Advisor”	 
	1.85	 	“Shareholders”	 
	1.86	 	“Shares”	 
	1.87	 	“SHOC’s Business”	 

 

	1.88	 	“Speculative
  Units”	 
	1.89	 	“Surveys”	 
	1.90	 	“Tax”
  or Taxes”	 
	1.91	 	“Tax
  Returns”	 
	1.92	 	“Third Party
  Claim”	 
	1.93	 	“Title Commitment”	 
	1.94	 	“Title Objection”	 
	1.95	 	“Welfare
  Plan”	 
	Section
  2.	 	AGREEMENT
  TO SELL AND ASSUMPTION OF CERTAIN LIABILITIES.	 
	2.1	 	Agreement
  to Sell.	 
	2.2	 	Assumption
  of Certain Liabilities.	 
	Section
  3.	 	PURCHASE
  PRICE PAYMENT AND PERFORMANCE.	 
	3.1	 	Initial
  Purchase Price.	 
	3.2	 	Final
  Purchase Price.	 
	3.3	 	Manner
  of Payment and Post Closing Adjustment.	 
	3.4	 	Construction
  and Warranty Matters.	 
	Section
  4.	 	TAX
  INDEMNITY PROVISIONS.	 
	4.1	 	Indemnification.	 
	4.2	 	Returns
  and Payments.	 
	4.3	 	Refunds.	 
	4.4	 	Contests.	 
	4.5	 	Time
  of Payment.	 
	4.6	 	Cooperation
  and Exchange of Information.	 
	4.7	 	Conveyance
  Taxes.	 
	4.8	 	Miscellaneous.	 
	Section
  5.	 	TITLE
  EXAMINATION, SURVEYS AND OBJECTIONS.	 
	5.1	 	Title
  Examination.	 
	5.2	 	Failure
  to Correct Title Objections.	 
	5.3	 	Surveys.	 
	Section
  6.	 	REPRESENTATIONS
  AND WARRANTIES.	 
	6.1	 	Representations
  and Warranties of SHOC.	 
	6.2	 	Representations
  and Warranties as to April.	 
	6.3	 	Representations
  and Warranties of Beazer and the Purchaser.	 
	6.4	 	Representations
  and Warranties of the Principals.	 
	6.5	 	General
  Provisions as to Representations and Warranties.	 
	Section
  7.	 	ADDITIONAL
  AGREEMENTS.	 
	7.1	 	Agreements
  Affecting the Included Assets.	 
	7.2	 	Purchaser’s
  Access and Inspection.	 
	7.3	 	Cooperation.	 
	7.4	 	Expenses.	 
	7.5	 	Covenant
  Against Competition and Right of First Offer.	 
	7.6	 	Waiver
  of Bulk Sales Law Compliance.	 
	7.7	 	Employees.	 
	7.8	 	Post
  Closing Wind Up.	 
	7.9	 	Savory
  Farms Environmental Condition.	 

 

	7.10	 	Brokerage
  Company.	 
	7.11	 	High View.	 
	7.12	 	Balance
  Sheet.	 
	Section
  8.	 	CLOSING
  PERIOD.	 
	Section
  9.	 	CLOSING.	 
	9.1	 	Closing
  Date and Place.	 
	9.2	 	Closing
  Transactions.	 
	9.3	 	Prorations;
  Expenses of Closing.	 
	Section
  10.	 	CONDEMNATION
  OR DESTRUCTION.	 
	Section
  11.	 	BROKERS.	 
	Section
  12.	 	RIGHT
  OF ENTRY.	 
	12.1	 	Tests,
  Borings and Examinations.	 
	12.2	 	Indemnification.	 
	Section
  13.	 	DEFAULT.	 
	13.1	 	The
  Purchaser’s Default.	 
	13.2	 	The
  Seller’s Default.	 
	13.3	 	Required
  Notice and Cure Period.	 
	13.4	 	Effect
  of Termination; Liquidated Damages.	 
	13.5	 	Effect
  of Termination.	 
	Section
  14.	 	INDEMNIFICATIONS.	 
	14.1	 	Indemnification
  Provisions for Benefit of the Purchaser.	 
	14.2	 	Indemnification
  Provisions for Benefit of Seller Parties.	 
	14.3	 	Matters
  Involving Third Parties.	 
	14.4	 	Relationship
  between Indemnities and Insurance Coverage.	 
	14.5	 	Subrogation
  to Rights of Indemnified Parties.	 
	Section
  15.	 	CONDITIONS
  PRECEDENT IN FAVOR OF PURCHASER.	 
	15.1	 	Conditions
  to Obligation of the Purchaser and Beazer.	 
	15.2	 	Specific
  Closing Conditions in favor of the Purchaser with respect to April.	 
	15.3	 	Conditions
  to Obligation of the Seller and the Principals.	 
	15.4	 	Waiver
  of Conditions and other Remedies.	 
	Section
  16.	 	NOTICE.	 
	Section
  17.	 	ASSIGNMENT.	 
	Section
  18.	 	MISCELLANEOUS.	 
	18.1	 	No Waiver.	 
	18.2	 	Captions;
  Pronouns; and Interpretation.	 
	18.3	 	Severability.	 
	18.4	 	Survival.	 
	18.5	 	Entire
  Agreement.	 
	18.6	 	Extension
  of Time.	 
	18.7	 	Time
  of Essence.	 
	18.8	 	Governing
  Law.	 
	18.9	 	Cumulative
  Rights.	 
	18.10	 	Binding
  Effect.	 
	18.11	 	Counterparts.	 
	18.12	 	Construction.	 

 

	18.13	 	No Third Party
  Beneficiaries.	 
	18.14	 	Press
  Releases and Public Announcements.	 
	Section
  19.	 	RELATIONSHIP
  AMONG THE SELLER, APRIL AND THE PRINCIPALS FROM AND AFTER CLOSING.	 
	Section
  20.	 	GUARANTY
  BY THE PRINCIPALS.	 
	Section
  21.	 	GUARANTY
  BY BEAZER.	 
	Section
  22.	 	SPECIAL
  DISTRICT DISCLOSURE STATEMENT.	 
	Section
  23.	 	SCHEDULES
  TO THE CONTRACT.	 
	Section
  24.	 	RELATIONSHIP
  BETWEEN THE SHAREHOLDERS AND THE PRINCIPALS.	 

Table
of Exhibits

	Exhibit
  A	Accrual
  Schedule	 
	Exhibit
  B	April
  Assets	 
	Exhibit
  C	Obligations
  Under Leases To Be Assumed Or Subleased By The Purchaser	 
	Exhibit
  D	All
  Other Liabilities And Obligations Relating To The Included Assets	 
	Exhibit
  E	Companies’
  Insurance Policies	 
	Exhibit
  F	Material
  Contracts	 
	Exhibit
  G	Credit
  Liabilities	 
	Exhibit
  H	Excluded
  Assets	 
	Exhibit
  I	Existing
  Purchase Agreements	 
	Exhibit
  J	Joint
  Ventures	 
	Exhibit
  K	The
  Land	 
	Exhibit
  L	Real
  And Personal Property Leases Of SHOC	 
	Exhibit
  M	Option
  Agreements	 
	Exhibit
  N	Excluded
  Personal Property	 
	Exhibit
  O	The
  Projects Located in the State of Colorado	 
	Exhibit
  P	Reference
  Balance Sheet	 
	Exhibit
  Q	Speculative
  Units	 
	Exhibit
  R	Calculation
  of Initial Purchase Price	 
	Exhibit
  S	Insurance
  Table	 
	Exhibit
  T	Litigation	 
	Exhibit
  U	Rights
  to Purchase Land	 
	Exhibit
  V	Products
  Liability Claims and Construction Defect Claims	 
	Exhibit
  W	Land
  Not Served by Public Rights-of-way	 
	Exhibit
  X	Contracts
  which will Survive the Closing or be Binding upon the Purchaser	 
	Exhibit
  Y	Backlog
  Units	 
	Exhibit
  Z	Warranty
  Forms	 
	Exhibit
  AA	Disclosure
  of Claims Under Warranties	 
	Exhibit
  BB	Affiliates
  / Insiders Disclosure	 
	Exhibit
  CC	Intellectual
  Property	 
	Exhibit
  DD	April
  Contracts and Obligations	 
	Exhibit
  EE	April
  Employee Benefit Plans	 
	Exhibit
  FF	April
  Employee Welfare Benefit Plan	 
	Exhibit
  GG	April
  Bank Accounts and Officers and Directors	 
	Exhibit
  HH	Form
  of Non-Competition Agreement	 

AGREEMENT
FOR SALE AND

PURCHASE OF ASSETS AND STOCK

                THIS AGREEMENT FOR SALE AND
PURCHASE OF ASSETS AND STOCK (this “Agreement”), is made this _____ day of
June, 2001, among BEAZER HOMES HOLDINGS CORP., a Delaware
corporation (“Purchaser”), BEAZER HOMES USA, INC., a Delaware
corporation (“Beazer”), SANFORD HOMES OF COLORADO, LLLP, a Colorado
limited liability limited partnership (“SHOC”), CHARLES H. SANFORD III and LINDA A.
ELLIOTT, both individual residents of the State of Colorado
(collectively “Principals”), and APRIL CORPORATION, a Colorado corporation
(“April”);

W I T N E S S E T H:  That,

                The Purchaser and the Seller
desire to implement the terms outlined in their letter of intent dated April
20, 2001 (the “Letter of Intent”), and acknowledge and recognize that the
following recitals are true and correct. 
All capitalized terms not otherwise defined are defined in Section 1.

RECITALS

1.             SHOC is engaged in the business of
residential construction, development and sales in the State of Colorado
(“SHOC’s Business”).

2.             April is engaged in the business of
designing and producing plans for the construction of residential units and the
leasing of such plans to SHOC and has previously engaged in the business of
residential construction, development and sales in the State of Colorado
(“April’s Business”).  The Shareholders
own all of the capital stock and all equity interests in April.

3.             SHOC wishes to sell and transfer
and the Purchaser wishes to acquire certain assets of SHOC which are used or
usable in the operation of SHOC’s Business, including the Land and Improvements
pursuant to the terms and conditions hereof.

4.             The Shareholders wish to sell and
transfer and the Purchaser wishes to acquire all of the capital stock and all
equity interests in April (the “Shares”).

5.             The Principals wish to provide for
post-closing indemnification for the representations, warranties and covenants
of the Seller contained herein and to guarantee the performance of the
obligations of the Seller herein.

6.             Beazer has executed this Agreement
in order to guaranty the performance of the obligations of Purchaser hereunder.

                NOW, THEREFORE, incorporating
the foregoing recital of facts and in consideration of TEN DOLLARS ($10.00) in
hand paid by the Purchaser to the Seller and the mutual promises contained
herein, the Seller and the Purchaser agree as follows:

                Section
1.               DEFINITIONS.     In
addition to any other terms which are defined in this Agreement, each of the
following terms shall have the meaning given it below:

                                1.1           “AA” 
means Arthur Andersen, LLP.

                                1.2           “Acceptance
Notice”  see Section 3.2(d).

                                1.3           “Accrual
Schedule”  means the list of accrued expenses and
payables included as Credit Liabilities more particularly described on Exhibit
A attached hereto and made a part hereof.

                                1.4           “Adjustment” 
shall mean the adjustment to Book Value designated in Section 3.2.

                                1.5           “Adverse
Consequences” 
shall mean all losses, costs, damages, fees, or liabilities incurred by
the indemnified party arising from the matter indemnified under this Agreement.

                                1.6           “Affiliate” 
shall have the meaning set forth in Rule 12b-2 promulgated under the
Securities Exchange Act of 1934, as amended.

                                1.7           “April” 
see the first paragraph of this Agreement.

                                1.8           “April
Assets”  shall mean all of the assets of April, other
than Excluded Assets, including real property, intellectual property, options
to acquire property, and leases as described on Exhibit B together with April’s
interest in the Joint Ventures.

                                1.9           “April’s
Business”  see Recital 2.

                                1.10         “Assumed
Liabilities”  shall
mean all liabilities other than Excluded Liabilities of April and of SHOC with
respect to SHOC’s Business as of the Closing Date relating to the Included
Assets, but not the Excluded Assets, including but not limited to the
following:

                                                (a)           all obligations of SHOC under the
Existing Purchase Agreements;

                                                (b)           obligations of SHOC remaining under
the Options that meet the requirements set forth at Section 6.1.26;

                                                (c)           obligations under Leases identified
on Exhibit C to be assumed or subleased by the Purchaser for which necessary
consents to assignment have been obtained;

                                                (d)           the obligation to perform warranty
work for customers who purchased and closed homes from the Companies prior to
the Closing Date including warranty work that arises because of the lack of
compliance with building codes;

                                                (e)           obligations under the Contracts;

                                                (f)            trade payables supported by invoices
or other back-up satisfactory to the Purchaser for units closing after the
Closing Date and for units closing on or prior to the Closing Date if provided
on the Accrual Schedule;

                                                (g)           all other liabilities and obligations
relating to the Included Assets listed on Exhibit D; and

                                                (h)           obligations of SHOC remaining to be
performed on or after the Closing Date under all permits and approvals related
to the Included Assets.

                                1.11         “Backlog Units” 
shall mean the residential housing units which are the subjects of
Existing Purchase Agreements, but which are not scheduled to close as of or
prior to the Closing Date.

                                1.12         “Beazer” 
see the first paragraph of this Agreement.

                                1.13         “Beazer
Indemnified Parties” 
shall mean the Purchaser, Beazer, and, from and after the Closing Date,
April, any Affiliate or subsidiary of any of them, and any director, officer,
or employee of any of them.

                                1.14         “Beazer
SEC Reports”  shall mean forms, reports and documents
required to be filed by Beazer with the Securities and Exchange Commission in
accordance with applicable requirements of the Securities Act of 1933 and the
Securities Exchange Act of 1934.

                                1.15         “Beazer
Securities”  see Section 6.3.6(b).

                                1.16         “Beazer Stock” 
shall mean the common stock of Beazer.

                                1.17         “Book Value”  shall mean the book value of assets or liabilities as the case
may be as determined in accordance with GAAP.

                                1.18         “Business” 
shall mean the operation of a land development, residential construction
and sales operation.

                                1.19         “Business Days” 
shall mean any day or days that commercial divisions of national banking
institutions are open for business in Denver, Colorado.

                                1.20         “Calculation” 
see Section 3.3.

                                1.21         “CERCLA” 
see Section 6.1.10.

                                1.22         “Closing” 
shall mean the consummation of the purchase and sale contemplated by
this Agreement by the deliveries required under Section 9.2 as of the Closing
Date.

                                1.23         “Closing
Balance Sheets” 
shall mean the separate balance sheets for the Companies (in the case of
SHOC, identifying the Included Assets and the Assumed Liabilities), compiled in
accordance with Section 3.2.

                                1.24         “Closing Date” 
shall mean 11:59 p.m. on the later of the date which is three (3)
Business Days after any required compliance with the Hart, Scott, Rodino Act or
August 2, 2001.

                                1.25         “Closing
Period”  shall mean the period between the Effective
Date and the Closing Date.

                                1.26         “Code” 
shall mean the Internal Revenue Code of 1986, as amended.

                                1.27         “Companies” 
shall mean SHOC and April.

                                1.28         “Companies’
insurance policies” 
shall mean the liability insurance policies that are maintained by the
Companies, such policies shall include general liability umbrella, and excess
liability.  All of the Companies’
insurance policies are listed and described on Exhibit E.

                                1.29         “Contracts” 
shall mean the contracts, leases, licenses and agreements which relate
to SHOC’s Business and the Land other than the Options, Existing Purchase
Agreements and Leases, the material ones being identified in Exhibit F.

                                1.30         “Confidential
Information”  shall
mean any business or technical information used by SHOC or April exclusively in
connection with the Included Assets and April’s Business and which has economic
value to SHOC or April because it has been deliberately maintained as
confidential by SHOC or April and is designated as confidential by SHOC or
April to Purchaser.

                                1.31         “Credit
Liabilities”  shall
mean the portion of the Assumed Liabilities set forth on Exhibit G for which
the Purchaser is to receive a credit against the Purchase Price.

                                1.32         “Effective
Date”  shall mean the date on which an unaltered
counterpart of this Agreement, has been executed by the parties hereto.

                                1.33         “Encumbrances” 
shall mean any mortgage, charge, claim, equitable interest, lien,
option, pledge, security interest, right of first refusal or other encumbrance.

                                1.34         “Environmental
Law”  see Section 6.1.10.

                                1.35         “ERISA” 
shall mean the Employee Retirement Income Security Act of 1974, as
amended, or any successor law, and the regulations and rules issued pursuant to
that act or any successor law.

                                1.36         “ERISA
Affiliate”  see Section 6.2.17.

                                1.37         “Equity” 
shall mean the Book Value of the April Assets that are not Excluded
Assets minus the Book Value of all liabilities of the referenced entity each as
determined in accordance with and shown on its Reference Balance Sheet.

                                1.38         “Excluded
Assets”  shall mean (a) SHOC’s cash on hand and
amounts in bank or other institutional depository accounts of SHOC to the
extent deducted from the Closing Balance Sheets, (b) split dollar life
insurance policies on the lives of the Principals owned by April, (c) the
limited liability company interest of April in the land held for development
known as “Castle Star,” provided that if agreement cannot be reached with
Castle Star Development, LLC with regard to a deferred purchase of such land,
the Purchaser will purchase such limited liability company interest for a
purchase price of three million four hundred twelve thousand three hundred
forty five dollars ($3,412,345) at Closing, and (d) the assets set forth on
Exhibit H attached hereto and made a part hereof.

                                1.39         “Excluded
Liabilities”  shall
mean the liabilities of SHOC with respect to SHOC’s business as of the Closing
Date which are not Assumed Liabilities, including those excluded liabilities
described in Section 2.2.

                                1.40         “Existing
Purchase Agreements”  shall
mean the existing purchase and sale agreements between SHOC and third party
purchasers of portions of the Land and Improvements as of the Effective Date,
and updated to and through the Closing Date. 
A complete list of the Existing Purchase Agreements is set forth as
Exhibit I.

                                1.41         “Financial
Statements”  shall
mean the consolidated financial statements of the Companies delivered by the
Companies to the Purchaser.

                                1.42         “Final
Purchase Price” 
see Section 3.2.

                                1.43         “GAAP” 
shall mean generally accepted accounting principles consistently
applied.

                                1.44         “High View” 
shall mean High View Homes, LLC, a Colorado limited liability company.

                                1.45         “Holdback” 
shall mean the deferred portion of the Purchase Price deducted from the
Purchase Price and retained by the Purchaser as part of the Closing process for
further disbursement in accordance with the terms hereof.

                                1.46         “Improvements” 
shall mean all improvements of any nature located on or appurtenant to
the Land which shall include all residential housing units, model homes,
Backlog Units, Speculative Units, infrastructure and all related property
affixed to or permanently located on the Land.

                                1.47         “Included Assets” 
shall include all Land and Improvements, Leases, Contracts, Intangible
Property, Options, Existing Purchase Agreements and Personal Property and all
assets of SHOC with respect to SHOC’s Business designated on its Reference
Balance Sheet as updated through the Closing Date except for Excluded Assets
and any other assets which may be excluded by the Purchaser prior to Closing.

                                1.48         “Indemnified
Party”  see Section 14.3.

                                1.49         “Indemnifying
Party”  see
Section 14.3.

                                1.50          “Initial Purchase Price”  see Section 3.1.

                                1.51         “Insiders” 
see Section 6.2.2.

                                1.52         “Intangible
Property”  shall
mean all intangible or intellectual property used by SHOC which is used in
SHOC’s Business and relates to the Included Assets or Assumed Liabilities
including data, files, books and records, customer lists, warranties, computer
software and programs, plans and specifications, trademarks, or copyrights.

                                1.53         “Intellectual
Property Rights” 
see Section 6.2.11.

                                1.54         “IRS” 
shall mean the Internal Revenue Service.

                                1.55         “Joint Ventures” 
shall mean the partnerships, limited liability companies and other
entities where any of the Sellers or April is a non-exclusive owner identified
on Exhibit J.

                                1.56         “KPMG” 
shall mean KPMG Peat Marwick.

                                1.57         “Land” 
shall mean the improved or unimproved real property owned by SHOC more
particularly described on Exhibit K.

                                1.58         “Leases” 
shall include the real and personal property leases of SHOC which are
identified in Exhibit L.

                                1.59         “Letter
of Intent”  see the second paragraph of this Agreement.

                                1.60         “Licenses, Entitlements, and Permits” 
shall mean all licenses, entitlements, permits, governmental rights,
development of regional impact approvals, zoning rights, paid impact fees and
tap in rights, utility capacity and all other rights, approvals and permits
associated with the Included Assets or otherwise owned by SHOC with respect to
the operation of the Business in the Restricted Area.

                                1.61         “New
Beazer Employee” 
shall mean any employee of either the Purchaser or April who is hired by
the Purchaser at or prior to Closing or prior to the determination of the Final
Purchase Price.

                                1.62         “Non-Competition
Agreements”  see
Section 6.2.19.

                                1.63         “Objection
Notice”  see Section 3.2.

                                1.64         “Options” 
shall mean the option agreements and purchase and sale agree­ments
between SHOC and certain third party land sellers, a complete list of which are
set forth on Exhibit M attached hereto and made a part hereof.

                                1.65         “Permitted
Exceptions”  shall
mean collectively any title exception set forth on the Title Commitment which
is not a Title Objection.

                                1.66         “Person” 
shall mean any individual, corporation, general or limited partnership,
limited liability company, limited liability partnership, joint venture,
estate, trust, association, organization, governmental body, or other entity or
body.

                                1.67         “Personal
Property”  shall include all equipment, tools,
furniture, office equipment, marketing materials, deposits with community
associations or community development districts and other tangible personal
property used in connection with the development of residential homes or
improved lots located on the Land or otherwise related to SHOC’s Business,
other than any items of tangible personal property described in Exhibit N.

                                1.68         “Plans” 
see Section 6.2.17.

                                1.69         “Pre-Closing
Short Period” 
see Section 4.1.

                                1.70         “Premium” 
see Section 3.

                                1.71         “Principals” 
see the first paragraph of this Agreement.

                                1.72         “Projects” 
shall mean the projects located in the State of Colorado and listed on
Exhibit O hereto.

                                1.73         “Purchaser” 
see the first paragraph of this Agreement.

                                1.74         “Purchase Price” 
shall mean the amount, set forth in Section 3.1, that the Purchaser
shall pay to consummate the purchase and sale of the Included Assets and
Shares.

                                1.75         “Reference
Balance Sheets” 
shall mean the separate balance sheets for the Companies as of the
Reference Date, a true and exact copy of which will be initialed by the parties
and attached hereto as Exhibit P.

                                1.76         “Reference
Date”  shall mean May 31, 2001.

                                1.77         “Reserve” 
see Section 3.4.

                                1.78         “Restricted
Area”  shall mean the State of Colorado.

                                1.79         “SARA” 
see Section 6.1.10.

                                1.80         “Savory
Farms Environmental Condition” 
shall mean the presence of elevated concentrations of chlorinated
pesticides in the soils of the property owned by SHOC known as Savory Farms,
located at the southeast corner of Federal Boulevard and 112th Avenue in the
City of Westminster, Colorado, which is the subject of a no-action
determination issued by the Colorado Department of Public Health and Physical
Environment with respect to the property owned by SHOC but not the adjacent
property.

                                1.81         “Seller” 
shall mean SHOC and the Shareholders collectively.

                                1.82         “Seller
Indemnified Parties” 
shall mean the Seller, the Principals and any Affiliate or subsidiary of
either of them other than April, and any director, officer or employee of any
of them.

                                1.83         “Seller
Parties”  shall mean the Seller, the Principals and
April, jointly and severally.

                                1.84         “Seller’s
Advisor”  see Section 11.

                                1.85         “Shareholders” 
shall mean PNC Bank, N.A. IRA Custodian f/b/o Charles H. Sanford III
under Agreement dated May 2, 1996 and PNC Bank, N.A. IRA Custodian f/b/o Linda
A. Elliott under Agreement dated April 20, 1996.

                                1.86         “Shares” 
see Recital 4.

                                1.87         “SHOC’s
Business”  see Recital 1.

                                1.88         “Speculative
Units”  shall mean the residential housing units
completed or under construction by SHOC as of June 26, 2001 or models
constructed and owned by SHOC that are not the subject of an Existing Purchase
Agreement all of which are more particularly described in Exhibit Q.

                                1.89         “Surveys” 
shall mean any existing surveys of the Land in the possession of the
Companies or readily accessible by the Companies.

                                1.90         “Tax” or Taxes” 
shall mean all federal, state, local or foreign taxes of any kind,
charges, fees, customs, duties, imposts, levies, required deposits or other
assessments, including, without limitation, all net income, gross receipts, ad
valorem, value added, transfer, gains, franchise, profits, inventory, net
worth, capital stock, asset, sales, use, license, estimated, withholding,
payroll, transaction, capital, employment, social security, required deposits,
workers compensation, unemployment, excise, severance, stamp, occupation and
property taxes, together with any interest and any penalties, fines, additions
to tax or additional amounts imposed by any taxing authority (domestic or
foreign) and any transferee liability in respect of Taxes.

                                1.91         “Tax Returns” 
shall mean any return, report, form or other documents or information
filed with or submitted to, or required to be filed with or submitted to, any
governmental body in connection with the determination, assessment, collection
or payment of any Tax (including all filings with respect to employment-related
Taxes).

                                1.92         “Third
Party Claim”  see Section 14.3.

                                1.93         “Title
Commitment”  shall mean the title insurance commitment
issued by Land Title Guarantee Company as agent for Old Republic National Title
Insurance Company or Chicago Title Insurance Company or Land America Title
Insurance Company with respect to the Land issued in favor of the Purchaser.

                                1.94         “Title
Objection”  shall mean any deed of trust, lien,
financing statement, security agreement, security interest or other encumbrance
which is not an Assumed Liability, which encumbers SHOC’s title to the Land and
to which Purchaser objects in accordance with Section 5.1.

                                1.95         “Welfare Plan” 
see Section 6.2.17.

                Section
2.               AGREEMENT TO SELL AND
ASSUMPTION OF CERTAIN LIABILITIES.

                                2.1           Agreement to Sell. 
On the terms and conditions hereinafter set forth, (i) SHOC agrees to
sell the Included Assets to the Purchaser and the Purchaser agrees to purchase
the Included Assets from SHOC; and (ii) the Principals agree to cause the
Shareholders to sell the Shares to the Purchaser and the Purchaser agrees to
purchase the Shares from the Shareholders, all in accordance with the terms
hereof.

                                2.2           Assumption
of Certain Liabilities.  The
Purchaser agrees to assume at the Closing the Assumed Liabilities at the Book
Value thereof and agrees to perform the obligations incident thereto.

                The Assumed Liabilities shall
not include any obligation or liability arising from any act which would
constitute a breach of the representations and warranties of SHOC or the
Principals contained in Sections 6.1 or 6.2. 
Nothing contained in this Section 2 or in any instrument or assumption
executed by the Purchaser at the Closing shall be deemed to release or relieve
the Principals, SHOC or April from their or its respective representations,
warranties, covenants and agreements contained in this Agreement or any
certificate, schedule, instrument or document executed pursuant hereto or in
connection herewith, including, without limitation, the obligations of the
indemnity provisions in favor of the Purchaser in this Agreement.

                The Assumed Liabilities shall
not include any liability or obligation of the Companies or the Principals
arising out of or relating to:

                                                (a)           any actual or alleged tortious
intentional misconduct of the Companies or any of their employees or agents;

                                                (b)           any business or business activities
of SHOC or April which are not part of SHOC’s Business or April’s Business;

                                                (c)           any liability for expenses or Taxes,
if any, in connection with, resulting from or arising out of this Agreement or
the transactions contemplated hereby, attributable to any period prior to
Closing;

                                                (d)           any liability of SHOC or April for
any Taxes of any kind or character, attributable to any period prior to
Closing;

                                                (e)           any liability of the Seller or April
under or arising by reason of this Agreement;

                                                (f)            any liability for any expense or
payable due in accordance with the terms of any Contract or other agreement to
which SHOC is a party for the period prior to Closing except as shown on the
Accrual Schedule;

                                                (g)           any liability under any Environmental
Law except as provided in Section 6.3.13; or

                                                (h)           any liability for the violation of
any statute, rule or regulation, including but not limited to consumer
protection laws, or any penalties or fines thereunder; provided, however, that
the Assumed Liabilities shall include (i) building code violations and (ii)
violation of any consumer protection laws unless it is found by a judicial or
non-judicial tribunal, acting independently of any judicial or non-judicial
tribunal in which there is a claim by a consumer under such laws, that such
violation was accompanied by fraud by the Companies or any of their employees
or agents.

                                                (i)            any liability arising out of Crum v.
April Corporation.

                In particular, SHOC shall pay
and remain solely responsible for:

                                                (a)           all trade payables under the
Contracts or otherwise which apply to units closed prior to the Closing Date
except as shown on the Accrual Schedule;

                                                (b)           any liability arising under and with
respect to violations of any statute, rule or regulation, except as specified
in subsection 2.2(h) above.

                SHOC and the Principals hereby
indemnify and hold harmless the Beazer Indemnified Parties against any losses,
costs, damages, fees arising or related to the period on or before Closing or
other amounts payable for the Excluded Liabilities and for any liabilities or
obligations of SHOC or April relating to the Included Assets arising or related
to the period on or before Closing other than the Assumed Liabilities.  The Purchaser and Beazer hereby indemnify
and hold harmless the Seller Indemnified Parties against any losses, costs,
damages, fees or other amounts payable for any liabilities or obligations of
the Purchaser with respect to the Assumed Liabilities.

                Section
3.               PURCHASE PRICE PAYMENT
AND PERFORMANCE.

                                3.1           Initial Purchase Price.  Purchaser will pay to the Seller the initial
purchase price (“Initial Purchase Price”) which shall equal the combined net
Book Value of SHOC and April, after making necessary consolidating adjustments
less Excluded Assets and plus Excluded Liabilities reflected on Exhibit R, plus
Assumed Liabilities, all as of the Reference Date, plus a premium (“Premium”)
in the amount of $15,000,000.00, calculated as set forth in Exhibit R, all to
be payable and allocated in accordance with the following provisions.

                                                (a)           The
Initial Purchase Price shall be payable by Purchaser to the Seller at Closing,
in cash, Credit Liabilities, and Beazer Stock as follows:

	Non-Competition
  Agreements (allocated 75% to Charles H. Sanford III and 25% to Linda A.
  Elliott)	 	Cash	 	$4,000,000
	 	 	 	 	 
	Shares
  of April (allocated 86.63% to the IRA account for Charles H. Sanford III and
  13.37% to the IRA account for Linda A. Elliott)	 	Beazer
  Stock

  Cash	 	$5,333,333

  $6,666,667
	 	 	 	 	 
	Included
  Assets of SHOC	 	Beazer
  Stock

  Credit Liabilities

  Cash	 	$8,000,000

  Book Value

  Balance of Initial Purchase Price

                                                (b)           The value of the Beazer Stock will be
based on the valuation methodology described in this Section.  The Beazer Stock shall be issued in a
private placement that is exempt from registration under applicable securities
laws.  The sale of the Beazer Stock
shall be restricted for a period of one year from the Closing Date and as may
otherwise be required to comply with applicable securities laws or regulations
or applicable rules of the New York Stock Exchange.  At the end of the one year restricted period, Beazer shall file
an S-3 Registration Statement (Resale Registration) with respect to all Beazer
Stock issued in payment of the Purchase Price. 
SHOC and the Principals shall cooperate fully with Beazer to provide
such information, financial statements and other information and undertakings
as may be required to accomplish the initial private placement and subsequent
resale registration contemplated herein.

                                                (c)           The number of shares of Beazer Stock
to be issued as a part of the Purchase Price will be determined by dividing the
dollar amounts specified in Section 3.1 attributable to Beazer Stock by the
average of the closing prices of Beazer Stock during the twenty (20) trading
days immediately preceding the first trading day prior to the Closing Date,
provided that if the average closing price of Beazer Stock so determined is
more than sixty dollars ($60.00) per share, the dollar amount specified in Section
3.1(a) will be divided by sixty dollars ($60.00) per share, and if the
foregoing average price per share is less than or equal to forty eight dollars
($48.00) per share, then the dollar amount specified in Section 3.1(a) will be
divided by forty eight dollars ($48.00) per share.  In the event that the price would be calculated using sixty
dollars ($60.00) per share, then the Purchaser shall have the right to pay all
or any portion of the Purchase Price allocated above to Beazer Stock, at its
election, in cash rather than Beazer Stock.

                                                (d)           Purchaser shall pay off at Closing
all loans of SHOC included in the Assumed Liabilities and all loans of April
other than Excluded Liabilities.  The
amounts to pay off such loans which are Credit Liabilities shall be allocated
to the cash portion of the Purchase Price.

                                3.2           Final Purchase Price.

                                                (a)           The Final Purchase Price shall be the
sum of:

                                                                (i)            The Initial Purchase Price;

                                                                (ii)           Plus or minus Adjustments related to
Included Assets, Excluded Assets, Assumed Liabilities and Excluded Liabilities;

                                                                (iii)          Plus the net increase, or minus the
net decrease, in the combined net Book Value of SHOC and April, after making
necessary consolidating adjustments, after the Reference Date through the
Closing Date, without any decrease in the net Book Value of April as a result
of the distribution required by Section 9.2.1(c); and

                                                                (iv)          Minus the net increase, or plus the
net decrease, in the Assumed Liabilities after the Reference Date through the
Closing Date.

                All of the above items shall be
determined in accordance with GAAP and the net changes in Included Assets and
Credit Liabilities and the Equity of April shall include only those changes in
the ordinary course of business.

                                                (b)           SHOC and the Principals may
reallocate the cash and stock payable by Beazer to the portions of the Purchase
Price paid for the Shares of April and the Included Assets of SHOC in any
manner selected by them provided that such reallocation is approved by Beazer
prior to Closing, which approval will not be unreasonably withheld or delayed,
and provided further that such reallocation will under no circumstances require
Beazer to issue more or less Beazer Stock than that reflected in Section 3.1(a)
above, subject to Beazer’s rights in Section 3.1(c).

                                                (c)           The Final Purchase Price shall be
determined as of the Closing Date on the basis of the Closing Balance Sheets
and in a manner consistent with the calculation of the Initial Purchase Price
contained in the attached Exhibit R. The Closing Balance Sheets shall be
prepared by SHOC in accordance with GAAP applied on a basis consistent with
prior periods.  KPMG shall audit the
Closing Balance Sheets, prepare a calculation of the Final Purchase Price based
upon the Closing Balance Sheets allocating the Final Purchase Price in a manner
consistent with the allocation of the Initial Purchase Price in accordance with
Section 3.1, and deliver such audited Closing Balance Sheets with its opinion
with respect thereto, together with such calculation of the Final Purchase
Price, to the Purchaser and the Seller within sixty (60) days of the Closing
Date.

                                                (d)           Within thirty (30) days following the
delivery of the KPMG audited Closing Balance Sheets and calculation of the
Final Purchase Price, the Purchaser shall deliver to Seller a notice of
objection (an “Objection Notice”) or a notice of acceptance (an “Acceptance
Notice”) with respect to the Closing Balance Sheets and the calculation of the
Final Purchase Price.  If an Acceptance
Notice is delivered to Seller or if no Objection Notice is delivered to Seller
within such thirty (30) day period, such Closing Balance Sheets and the
calculation of the Final Purchase Price shall be final and binding on the
parties.  If an Objection Notice is
given and the parties are unable to reach agreement within fifteen (15) days of
its date, any unresolved disputed items shall be promptly referred to AA for
resolution.  The resolution of the
dispute by AA shall be final and binding on the parties.  The fees and expenses of AA shall be divided
equally between the parties if the decision of AA results in an adjustment of
the Purchase Price of one million dollars ($1,000,000) or less and, if the
adjustment is more than one million dollars ($1,000,000), then the fees and expenses
of AA shall be paid by the Purchaser if the adjustment is an increase in the
Purchase Price and by SHOC and the Principals if the adjustment is a decrease
in the Purchase Price.

                Purchaser shall hold back from the cash
portion of the Initial Purchase Price the sum of $1,500,000.00 (“Holdback”) to
provide a fund for the payment of the adjustments provided in this
Section.  Purchaser shall invest the
Holdback into an interest bearing special account for the benefit of Purchaser
and Seller at a financial institution having deposits insured by the Federal
Deposit Insurance Corporation and having a consolidated net worth of not less
than five hundred million dollars ($500,000,000.00).   Interest upon such account will become a part of the
Holdback.   The Holdback shall be set
aside from the cash payment to be made to SHOC as a part of the Purchase
Price.  Both April and SHOC agree that
even though the Holdback has been divided for purposes of ownership by the two
entities, the sum of the two amounts shall be available to the Purchaser for
adjustments without distinction.  For
example, in the event that an amount is owing to the Purchaser that is covered
by the Holdback and it is allocated entirely to SHOC, the amount of the
Holdback attributable to April shall be available for payment of such amount
after the exhaustion of the Holdback attributable to SHOC and any reimbursement
arrangement between SHOC and the Shareholders with respect thereto will not
affect Purchaser’s rights with respect thereto.  Upon establishment of the Final Purchase Price, Beazer shall
retain such portion of the Holdback as it may be entitled to pursuant to this
calculation without distinction as to entity, and shall pay any amounts due to
the Seller in accordance with such calculation to the appropriate Seller.  Any additional amounts payable reflecting
Adjustments to the Book Value as of the Closing Date shall be paid within
fifteen (15) days of the establishment of the Final Purchase Price.

                The parties shall agree upon an
allocation of the Initial Purchase Price as to the Included Assets and the
Shares during the Closing Period.  The
Final Purchase Price attributable to the Included Assets shall be allocated
among the Included Assets in a manner consistent with the allocation and agreed
to by Seller and Purchaser during the Closing Period.  If there is a dispute as to such allocation which cannot be
resolved between the parties within sixty (60) days after delivery to the
parties of such schedule prepared by KPMG, such dispute will be referred to AA
for resolution and such resolution will be binding upon the parties.  SHOC and Purchaser will each file in
compliance with the Internal Revenue Code Form 8594 completed in accordance
with such allocation.

                                                (e)           The Final Purchase Price shall be
allocated as follows:

	Non-Competition
  Agreements	$4,000,000
	 	 
	Shares
  of April	$12,000,000,
  adjusted for Excluded Assets and Excluded Liabilities of April
	 	 
	Included
  Assets of SHOC	Balance
  of Final Purchase Price

                For purposes of the allocation
of the Purchase Price to SHOC, all of the Purchase Price in excess of the tax
Book Value of the Included Assets shall be allocated to goodwill for tax
purposes to the extent allowed by applicable tax law.

                All prorations, calculations, and price
credit or liability determinations shall be made as of the Closing Date and
where applicable, shall be applied against the cash portion of the Purchase
Price. For purposes of these calculations and determinations, the Seller shall
retain all benefits and burdens of SHOC’s Business and April’s Business until
11:59 p.m. on the Closing Date.  All
employees of SHOC and April shall remain employees of SHOC and April until
11:59 p.m. on the Closing Date. Thereafter, all benefits and burdens of the
Included Assets and Assumed Liabilities shall be of the Purchaser. Except for
the Assumed Liabilities, SHOC and the Principals hereby indemnify the Beazer
Indemnified Parties for all liabilities whatsoever arising from the operation
of SHOC’s Business on or prior to the Closing Date.

                                3.3           Manner of Payment and Post Closing
Adjustment.

                                                (a)           Upon the satisfaction of the
conditions set forth in Section 9 and Section 15 herein and subject to the
provisions of Section 3.1, the Purchaser shall pay the cash portion of the
Purchase Price by wire transfer on the Closing Date and deliver the requisite
number of shares on such date.

                                                (b)           On the Business Day immediately prior
to the Closing Date, Purchaser shall deliver to the wiring bank its
instructions to wire transfer the cash portion of the Purchase Price
established at Section 3.1 above at its earliest available time on the Closing
Date.  At least three (3) Business Days
prior to the Closing Date, Sellers will furnish to the Purchaser the wiring information
for transfer of the cash portion of the Purchase Price to each.

                                                (c)           Credit Liabilities.  The Purchaser and the Seller shall establish
a list and calculation of the Credit Liabilities at Closing.  The Credit Liabilities set forth on Exhibit
G is a list of the Credit Liabilities as of Reference Date together with an
estimate of the Credit Liabilities thereafter through the Closing Date.  The actual calculation and designation of
the Credit Liabilities shall be those accrued liabilities payable by the
Purchaser on behalf of the Seller after Closing.

                                3.4           Construction
and Warranty Matters.

                                                (a)           The Purchaser shall assume and
perform all work caused by any warranty claim covered by an existing form of
warranty by the Companies identified in Exhibit Z and relating to any
residential housing units closed by the Companies prior to the Closing and
closed by the Purchaser thereafter. 
SHOC and the Principals shall take all actions necessary in order to
continue in full force and effect the Companies’ insurance policies and to
assign all benefits and payments thereunder to the Purchaser at Closing, except
to the extent of any coverage resulting from the Seller Indemnified Parties
being additional insureds under any liability policies maintained on behalf of
the Companies.  SHOC and the Principals
shall pursue all claims under the Companies’ insurance policies diligently if
requested by the Purchaser and shall not take any action which would release
the insurance companies or void or limit coverage under the Companies’
insurance policies.  SHOC and the
Principals hereby grant to the Purchaser an irrevocable power of attorney
coupled with an interest to file and pursue claims under the Companies’
insurance policies, except to the extent of any coverage resulting from the
Seller Indemnified Parties being additional insureds under any liability
policies maintained on behalf of the Companies.

                The Purchaser shall not be responsible
for and has not assumed any obligation or liability with respect to High View
including any warranty work with respect to any homes constructed by High
View.  As a condition to Closing, SHOC
shall or shall cause High View, at its expense, to acquire prior to Closing
structural warranty insurance with respect to all homes constructed or sold by
High View and will post, at its expense, any necessary sureties with respect to
such insurance.  SHOC will cause High
View to deliver copies of such warranties to the Purchaser prior to the Closing
Date.  SHOC will or will cause High View
to pay all deductible amounts due under such warranties.  To the extent practicable, SHOC will cause
High View and High View hereby agrees to assert any claims arising out of the
High View homes against such insurance prior to asserting any claim with
respect to any general liability insurance available to the Purchaser after
Closing.

                In consideration of assumption
and performance of such warranty claims, Purchaser shall receive a credit in
calculation of net Book Value for the warranty reserve maintained on the
Reference Balance Sheets, as adjusted by the Closing Balance Sheets
(“Reserve”).

                                                (b)           The Purchaser shall enter into a
Contract with High View at Closing whereby the Purchaser agrees to perform
warranty work on behalf of High View at the sole cost and expense of High
View.  The Contract shall be on mutually
acceptable terms but shall provide that none of the Beazer Indemnified Parties
shall have any liability or obligation with respect to any of such warranty
work or the unit that is the subject of such work other than the obligation of
the particular Beazer Indemnified Party to undertake such work in a manner
consistent with the standards of the residential construction industry in the
Denver, Colorado area.  The Purchaser
shall not be responsible for the payment of any deductible amounts with respect
to any insurance policies insuring High View. 
The amounts in the Reserve shall not be available to the Seller or High
View to pay warranty claims amounts or any other amounts with respect to High
View.

                                                (c)           SHOC and the Principals shall provide
to the Purchaser prior to the Closing Date the agreement of the insurance
companies issuing the Companies’ product liability and general liability
insurance policies in favor of the Purchaser in force during the eight (8)
years prior to the Closing Date that (i) the Companies’ insurance policies are
in full force and effect with no amounts due and payable thereunder; (ii) name
the Beazer Indemnified Parties as additional named insureds thereunder; (iii)
the insurance companies will permit the Purchaser to make claims thereunder on
behalf of the Seller Parties by use of a power of attorney issued by the Seller
Parties in favor of the Purchaser and will pay the proceeds thereof to the
Purchaser without claims of the Seller, except to the extent of any coverage
resulting from the Seller Indemnified Parties being additional insureds under
any liability policies maintained on behalf of the Companies; (iv) the
insurance companies will not deny or limit coverage under the Companies’
insurance policies because of the closing of the transactions contemplated
hereby; and (v) acknowledge that the coverage of the policies are not affected
by the inclusion of the waiver of subrogation clause in Section 14, the
execution and delivery of the release and covenant not to sue required under
Section 19 hereof and the execution and delivery of the power of attorney in
favor of the Purchaser.  SHOC and the
Principals shall take all actions and pay such reasonable amounts (as
determined by Seller) as are necessary to obtain at or prior to Closing the
foregoing agreement by the insurance companies issuing the Companies’ insurance
policies.

                                                (d)           Purchaser will maintain the Seller
Indemnified Parties as additional insured under all of the Companies’ liability
insurance policies or such replacement policy as the Purchaser may obtain for a
period of eight (8) years after the Closing Date.

                                                (e)           Exhibit S sets forth, by year and by
company, for SHOC, April and their Affiliates, residential units completed and
the insurance and warranties covering such residential units.

                Section 4.               TAX INDEMNITY PROVISIONS.

                                4.1           Indemnification.
The parties agree that (i) consistent with Treasury Regulations Section
1.1502-76, (A) the short taxable year of April resulting from the inclusion by
the Purchaser of April in its consolidated group upon the sale of April to the
Purchaser will end at the end of the day on the date hereof (the “Pre-Closing
Short Period”) and (B) for purposes of determining the year to which
April’s items of income, gain, loss and deduction with respect to the Included
Assets should be allocated, April shall be treated as if it sold its interests
in SHOC immediately prior to the sale of the stock of April to the Purchaser
and (ii) for purposes of determining the timing of the recognition of items of
income, gain, loss and deduction, the sale of the Included Assets shall be
deemed to occur immediately prior to the sale of the stock of April to the
Purchaser.  In addition, the parties
agree that the interim closing of the books method shall be used in order to
allocate items of income, gain, loss and deduction with respect to the Included
Assets.  Accordingly, all items of
income, gain, loss and deduction resulting from the sale of the Included Assets
by SHOC which are allocated to April will be included on the Tax Return to be
filed by April for the Pre-Closing Short Period and all income, gain, loss and
deduction allocable to April for the period arising prior to the deemed sale of
April’s interests in SHOC shall be included on the Tax Return to be filed by
April for the Pre-Closing Short Period.

                                                (a)           SHOC and the Principals agree to
indemnify and hold harmless the Beazer Indemnified Parties and April against
the following Taxes (except to the extent that reserves appear on the Closing
Balance Sheets for such Taxes) and, except as otherwise provided in Section
4.4, against any loss, damage, liability or expense, including reasonable fees
for attorneys and other outside consultants, incurred in contesting or
otherwise in connection with any such Taxes: 
(i) Taxes imposed on April or High View with respect to taxable periods
of such Person ending on or before the Closing Date (or Taxes which result from
any transactions contemplated by this Agreement or which occur or are deemed to
occur during the Pre-Closing Short Period of April pursuant to Section  4.1(a) above); (ii) with respect to taxable
periods beginning before the Closing Date and ending after the Closing Date,
Taxes imposed on April or High View which are allocable, pursuant to Section
4.1(b), to the portion of such period ending on the Closing Date; (iii) Taxes
imposed on any member of any affiliated group with which April files or has
filed a Return on a consolidated or combined basis for a taxable period ending
on or before the Closing Date; and (iv) Taxes imposed on the Purchaser or April
or High View as a result of any breach of warranty or misrepresentation under
Section 6.2.7.

                                                (b)           In the case of Taxes that are payable
with respect to a taxable period that begins before the Closing Date and ends
after the Closing Date, the portion of any such Tax that is allocable to the
portion of the period ending on the Closing Date shall be:

                                                                (i)            in the case of Taxes that are based
upon or related to income or gross receipts or sale or use Tax, deemed equal to
the amount which would be payable if the taxable year ended with the Closing
Date, and

                                                                (ii)           in the case of any Taxes other than
gross receipts, sale or use Tax and Taxes based upon or related to income,
deemed to be the amount of such Taxes for the entire period, multiplied by a
fraction the numerator of which is the number of calendar days in the period
ending on the Closing Date and the denominator of which is the number of
calendar days in the entire period.

                                4.2           Returns and Payments.

                                                (a)           From the Effective Date through and
after the Closing Date, the Shareholders shall prepare and file, subject to the
Purchaser’s prior review and approval, which approval will not be unreasonably
withheld or delayed, or otherwise furnish in proper form to the appropriate
governmental authority (or cause to be prepared and filed or so furnished) in a
timely manner all Tax Returns relating to April that are due on or before or
relate to any taxable period ending on or before the Closing Date (and the
Purchaser shall do the same with respect to any taxable period ending after the
Closing Date).  Tax Returns of April not
yet filed for any taxable period that begins before the Closing Date shall be
prepared in a manner consistent with past practices employed with respect to
April (except to the extent counsel for SHOC, the Principals, or April renders
a legal opinion that there is no reasonable basis in law therefor or determines
that a Tax Return cannot be so prepared and filed without being subject to
penalties).  With respect to any Tax
Return required to be filed by the Purchaser or the Shareholder with respect to
April and the Subsidiaries and as to which an amount of Tax is allocable to the
other party under Section 4.1(b), the filing party shall provide the other
party and its authorized representatives with a copy of such completed Tax
Return and a statement certifying the amount of Tax shown on such Tax Return
that is allocable to such other party pursuant to Section 4.1(b), together with
appropriate supporting information and schedules at least 20 Business Days
prior to the due date (including any extension thereof) for the filing of such
Tax Return, and during such 20 Business Day period such other party and its
authorized representatives shall have the right to review and comment on such
Tax Return and statement.

                                                (b)           Principals shall pay, or cause the
Shareholders to pay, when due and payable all Taxes with respect to April for
any taxable period ending on or before the Closing Date to the extent such
Taxes exceed the amount, if any, accrued for such Taxes as current Taxes
payable on the Closing Balance Sheets, and the Purchaser shall so pay or cause
to be paid Taxes for any taxable period after the Closing Date (subject to its right
of indemnification from SHOC and Principals by the date set forth in Section
4.5 for Taxes attributable to the portion of any Tax period that includes the
Closing Date pursuant to Section 4.1(b)).

                                4.3           Refunds. Any Tax refund (including any interest
with respect thereto) relating to April for any taxable period prior to the
Closing Date (except for any refund included on its Closing Balance Sheet,
which shall be the property of the Purchaser, and if paid to the Seller, shall
be paid over promptly to the Purchaser) shall be the property of the
Shareholders, and if received by the Purchaser or April shall be paid over
promptly to the Shareholders. 
Notwithstanding the foregoing sentence, any Tax refund (or equivalent
benefit to the Shareholders through a reduction in Tax liability) for a period
before the Closing Date arising out of the carry-back of a loss or credit
incurred by April in a taxable year ending after the Closing Date shall be the
property of the Purchaser and, if received by the Shareholders, shall be paid
over promptly to the Purchaser.

                                4.4           Contests.

                                                (a)           After the Closing, the Purchaser
shall promptly notify the Seller in writing of any written notice of a proposed
assessment or claim in an audit or administrative or judicial proceeding of the
Purchaser or of April which, if determined adversely to the taxpayer, would be
grounds for indemnification under this Section 4; provided, however,
that a failure to give such notice will not affect the Purchaser's right to
indemnification under this Section 4 except to the extent, if any, that, but
for such failure, the Seller could have avoided all or a portion of the Tax
liability in question.

                                                (b)           In the case of an audit or
administrative or judicial proceeding that relates to periods ending on or
before the Closing Date, provided that SHOC and the Principals acknowledge in
writing their liability under this Agreement to hold the Beazer Indemnified
Parties and April harmless against the full amount of any Adjustment which may
be made as a result of such audit or proceeding that relates to periods ending
on or before the Closing Date (or, in the case of any taxable year that
includes the Closing Date, against an Adjustment allocable under Section 4.1(a)
to the portion of such year ending  on or
before the Closing Date), the Shareholders shall have the right at their
expense to participate in and control the conduct of such audit or proceeding
but only to the extent that such audit or proceeding relates solely to a
potential Adjustment for which the Shareholders have acknowledged their
liability; the Purchaser also may participate in any such audit or proceeding
and, if the Shareholders do not assume the defense of any such audit or
proceeding, the Purchaser may defend the same in such manner as it may deem
appropriate, including, but not limited to, settling such audit or proceeding
after giving five days’ prior written notice to the Shareholders setting forth
the terms and conditions of settlement. 
In the event that issues relating to a potential Adjustment for which
the Shareholders and the Principals have acknowledged their liability are
required to be dealt with in the same proceeding as separate issues relating to
a potential Adjustment for which the Purchaser would be liable, the Purchaser shall
have the right, at its expense, to control the audit or proceeding with respect
to the latter issues.

                                                (c)           With respect to issues relating to a
potential Adjustment for which both the Shareholders and the Principals (as
evidenced by its acknowledgment under this Section 4.4) and the Purchaser or
April or High View could be liable, (i) each party may participate in the audit
or proceeding, and (ii) the audit or proceeding shall be controlled by that
party which would bear the burden of the greater portion of the sum of the
Adjustment and any corresponding Adjustments that may reasonably be anticipated
for future Tax periods.  The principle
set forth in the immediately preceding sentence shall govern also for purposes
of deciding any issue that must be decided jointly (including, without
limitation, choice of judicial forum) in situations in which separate issues
are otherwise controlled under this Section 4 by the Purchaser and the
Shareholders.

                                                (d)           Neither the Purchaser nor the
Shareholders shall enter into any compromise or agree to settle any claim
pursuant to any Tax audit or proceeding which would adversely affect the other
party for such year or a subsequent year without the written consent of the
other party, which consent may not be unreasonably withheld.  The Purchaser and the Shareholders agree to
cooperate, and the Purchaser agrees to cause April and High View to cooperate,
in the defense against or compromise of any claim in any audit or proceeding.

                                4.5           Time
of Payment. 
Payment by the Seller of any amounts due under this Section 4 in respect
of Taxes shall be made (i) at least three (3) Business Days before the due date
of the applicable estimated or final Return required to be filed by the
Purchaser on which is required to be reported income for a period ending after
the Closing Date for which SHOC or the Principals are responsible under Section
4.1(b) without regard to whether the Return shows overall net income or loss
for such period, and (ii) within three Business Days following an agreement
among the Shareholders and the Principals and the Purchaser that an indemnity
amount is payable, an assessment of a Tax by a taxing authority, or a
“determination” as defined in Section 1313(a) of the Code.  If liability under this Section 4 is in
respect of costs or expenses other than Taxes, payment by SHOC or the
Principals of any amounts due under this Section 4 shall be made within five
Business Days after the date when SHOC and the Principals have been notified by
the Purchaser that SHOC and the Principals have a liability for a determinable
amount under this Section 4 and is provided with calculations or other
materials supporting such liability.

                                4.6           Cooperation
and Exchange of Information. The Principals and the Purchaser will provide
each other with such cooperation and information as they reasonably may request
of the other in filing any Return, amended Return or claim for refund,
determining a liability for Taxes or a right to a refund of Taxes,
participating in or conducting any audit or other proceeding in respect of
Taxes or making representations to or furnishing information to parties
subsequently desiring to purchase April or any of the April Assets.  Such cooperation and information shall include
providing copies of relevant Returns or portions thereof, together with
accompanying schedules, related work papers and documents relating to rulings
or other determinations by Tax authorities. 
SHOC shall make its employees available on a basis mutually convenient
to both parties to provide explanations of any documents or information
provided hereunder.  Each of the
Principals, SHOC and the Purchaser shall retain all Returns, schedules and work
papers, records and other documents in its possession relating to Tax matters
of April and High View for each taxable period first ending after the Closing
Date and for all prior taxable periods until the later of (i) the expiration of
the statute of limitations of the taxable periods to which such Returns and
other documents relate, without regard to extensions except to the extent
notified by the other party in writing of such extensions for the respective
Tax periods, or (ii) six years following the due date (without extension) for
such Returns.  Any information obtained
under this Section 4.6 shall be kept confidential except as may be otherwise
necessary in connection with the filing of Returns or claims for refund or in
conducting an audit or other proceeding.

                                4.7           Conveyance Taxes. 
Except as specified below, SHOC shall be liable for and shall hold the
Purchaser harmless against any real property transfer or gains, sales, use,
transfer, value added, stock transfer, and any transfer, registration, and
other fees, and any similar Taxes which become payable in connection with the
transactions contemplated by this Agreement, and shall file such applications
and documents as shall permit any such Tax to be assessed and paid on or prior
to the Closing Date in accordance with any available pre-sale filing
procedure.  The Purchaser shall execute
and deliver all instruments and certificates necessary to enable SHOC to comply
with the foregoing.  Purchaser shall be
liable for and pay all documentary fees and recording fees with respect to
recording of deeds related to the transfer of title to the Land.

                                4.8           Miscellaneous.

                                                (a)           The Seller and the Purchaser agree to
treat all payments made by either of them to or for the benefit of the other
(including any payments to April) under this Section 4, under other indemnity
provisions of this Agreement and for any misrepresentations or breaches of
warranties or covenants as adjustments to the Purchase Price and that such
treatment shall govern for purposes hereof except to the extent that the laws
of a particular jurisdiction provide otherwise, in which case such payments
shall be made in an amount sufficient to indemnify the relevant party on an
after-tax basis.

                                                (b)           From and after the date of this
Agreement, the Shareholders shall not without the prior written consent of the
Purchaser (which may, in its sole and absolute discretion, withhold such
consent) make, or cause or permit to be made, any Tax election that would
affect April.

                                                (c)           For purposes of this Section 4, “the
Purchaser” and “the Seller”, respectively, shall include each member of the
affiliated group of corporations of which it is or becomes a member (other than
April, except to the extent expressly referenced).

                                                (d)           Each of the parties shall be entitled
to recover against the other parties professional fees and related costs that
it may reasonably incur to enforce the provisions of this Section 4.

                Section
5.               TITLE EXAMINATION,
SURVEYS AND OBJECTIONS.

                                5.1           Title Examination. 
The Purchaser shall cause SHOC’s title to the Land and Improvements to
be examined and may have surveys prepared or updated at any time and from time
to time up to and through the Closing Date and may at, any time prior to
Closing, give SHOC written notice of any Title Objections disclosed by such
exami­nation of title or updated survey that were not disclosed by the Purchaser’s
title examination.  SHOC shall (i)
satisfy or commit to satisfy at Closing, at SHOC’s expense, any mortgages,
liens or other monetary encumbrances (other than Assumed Liabilities),
including assessments or homeowner’s association fees affecting the Land or
Improvements, judgments and liens affecting the Included Assets,  (ii) satisfy or correct, at SHOC’s expense,
any Title Objection arising in breach of SHOC’s covenants, representa­tions or
warranties under this Agreement including bonding off any materialmen liens or
other bondable Title Objections and (iii) use reasonable efforts to cure and
correct all other Title Objections. 
SHOC shall not be obligated to cure any Title Objections other than
those described in clauses (i) and (ii) above. 
The Purchaser shall have the remedies described in Section 5.2 for the
failure to cure such Title Objections.

                                5.2           Failure
to Correct Title Objections.  If SHOC
fails to satisfy or correct any Title Objection known to the Purchaser on or
prior to the Closing Date, the Purchaser shall by written notice to SHOC elect
one of the following:

                                                5.2.1        To waive such Title Objection and to
close the transac­tion in accordance with the terms of this Agreement; nothing
contained in this section shall waive or terminate the obligations of SHOC with
respect to the removal of certain Title Objections set forth in the preceding
section.

                                                5.2.2        For Title Objections for which SHOC is
not obligated to remove as provided in Section 5.1, the Purchaser may also (i)
exclude the affected portion of the Land and close the transaction contemplated
hereby with a decrease in the cash portion of the Purchase Price based upon the
Book Value of the portion of the Land excluded; or (ii) terminate this
Agreement in which event neither SHOC nor the Purchaser shall have any further
rights, duties or obligations under this Agreement.

                                                5.2.3        The Purchaser shall have the right to
offset from the Purchase Price such amounts as are necessary in order to cause
the removal of any taxes, liens, judgments, or monetary encumbrances affecting
the Land which SHOC is obligated to terminate and satisfy and remove pursuant
to the provisions of Section 5.1.

                                                5.2.4        Any monetary encumbrance, judgment,
lien, lis pendens or other monetary matter affecting title to the Property and
not known to the Purchaser on the Closing Date shall be subject to the warranty
of title contained in the closing document and other representations and
warranties contained herein.

                                5.3           Surveys. 
SHOC shall provide to the Purchaser all Surveys within ten (10) Business
Days of the date hereof.

                Section
6.               REPRESENTATIONS AND
WARRANTIES.

                                6.1           Representations
and Warranties of SHOC.  As a material inducement to the Purchaser to
enter into this Agreement and to purchase the Included Assets, SHOC hereby
represents and warrants to the Purchaser as follows:

                                                6.1.1        Organization of SHOC.  SHOC is a limited liability limited
partnership duly organized and validly existing under the laws of the State of
Colorado; is in good standing and is qualified to do business under the laws of
the State of Colorado; and has the power to own, dispose of and execute
agreements to sell the Included Assets, and to engage in the transactions
contemplated in this Agreement and to perform and observe the terms and
provisions of this Agreement.

                                                6.1.2        Authorization.  This Agreement has been duly authorized by
all necessary action on the part of SHOC.

                                                6.1.3        Due Execution.  This Agreement has been duly authorized,
executed and delivered by SHOC, is legal, valid and binding upon SHOC and is
enforceable in accordance with its terms, subject to bankruptcy, insolvency,
reorganization and other laws of general application affecting the enforcement
of the rights or remedies of creditors generally.

                                                6.1.4        Status under the Internal Revenue
Code.  SHOC is not a “foreign
person” as that term is defined in Section 1445 of the Internal Revenue Code of
1986, as amended.

                                                6.1.5        Litigation.  Other than as disclosed on Exhibit T there
is no action, suit, proceeding or to the best of SHOC’s knowledge, claim (other
than third party warranty claims in the normal course of business) affecting
SHOC or the Included Assets or any portion thereof pending or being prosecuted
in any court or by or before any federal, state, county or municipal
department, commission, board, bureau, agency or other governmental
instrumentality.

                                                6.1.6        Title to Assets. 
SHOC presently has good and indefeasible fee simple title to the Lands
and owns the Included Assets subject to the Permitted Exceptions.

                                                6.1.7        Material Deterioration.  As of Closing, the Included Assets shall not
have suffered, in the aggregate or on a per Project basis, material
deterioration subject to the provisions of Section 10 herein.

                                                6.1.8        Rights to Purchase Land.  Except as described in Exhibit U, there are
no outstanding contracts, options or rights of first refusal granted by SHOC to
any other person or entity outstanding to purchase the Land or any of the
Included Assets other than the Existing Purchase Agreements.

                                                6.1.9        Compliance with Laws. 
To the best of SHOC’s knowledge, with respect to the Included Assets and
the Assumed Liabilities, SHOC has complied in all material respects with all
applicable laws, rules, regulations, codes, plans, injunctions, judgments, orders,
decrees, rulings, and charges thereunder) of federal, state, and local
governments (and all agencies thereof), and no action, suit, proceeding,
hearing, investigation, charge, complaint, claim, demand, or notice has to its
knowledge been filed, commenced or threatened against it alleging any failure
so to comply which would materially and adversely affect the Included
Assets.  To the best of its knowledge,
SHOC has complied with respect to the Included Assets, in all material respects
with all Environmental Laws including the remediation requirements and related
documents applicable to SHOC with respect to the Savory Farms Environmental
Condition, Colorado Consumer Protection Act and Colorado Soil Condition
Disclosure Act, including expansive soil disclosures, health, and safety Laws,
and no action, suit, proceeding, hearing, investigation, charge, complaint,
claim, demand, or notice has been filed or commenced against it alleging any
failure so to comply.  To the best of
SHOC’s knowledge, neither the Included Assets or any portion of a subdivision
which contains Included Assets nor any portion thereof violates any zoning,
building, fire, health, pollution, subdivision, environmental protection or
waste disposal ordinance, code, law or regulation or any requirement contained
in any hazard insurance policy covering the Included Assets.  SHOC shall give prompt notice to the
Purchaser of any notification or allegation of such violation which shall be
received by SHOC prior to Closing. 
Without limitation to the foregoing, to the best of SHOC’s knowledge,
the Land is in compliance in all material respects with and SHOC has received
no notice and knows of no fact or condition which could give rise to a
violation of any environmental law, rule, ordinance or regulation or any zoning
or other land use law, rule, ordinance or regulation including, but not limited
to, any of the foregoing that may affect the Land in the nature of a plan,
permit, or any land use or environmental law as to endangered species.  SHOC has no knowledge of the construction of
any housing units in a manner that would be subject to any material
construction defects (other than usual and customary punchlist items) or damage
caused by ground subsidence each giving rise to products liability claims
against SHOC by third party purchasers of such units other than as disclosed in
detail on Exhibit V for which the Seller and the Purchaser in good faith
believe a sufficient amount has been reserved against on the Closing Balance
Sheet.  To the best knowledge of SHOC,
SHOC is in full compliance with local, state and federal ordinances, statutes,
laws or regulations governing the sale of residential lots to individuals.

                                                6.1.10        Environmental
Warranty.  (i) SHOC has not disposed of, generated from
or dumped on any of the Land any toxic or hazardous substance as defined under
any Environmental, Health and Safety Laws, nor, to the best of its knowledge,
has any such property been used at any time for the disposal, generation or
dumping of any such toxic or hazardous substance, except for the Savory Farms
Environmental Condition and any other condition disclosed in the environmental
phase I reports with respect to the Land delivered to the Purchaser; (ii)  to the best of the knowledge of SHOC, no
underground storage tanks are presently or at any time were located on the Land
and subsequently removed or filled except as may have been disclosed in the
environmental Phase I reports with respect to the Land delivered by SHOC to the
Purchaser; (iii) to the best knowledge of SHOC, the Land (other than a portion
of Bellcross Ranch which has been used as a landfill has not been used as a
landfill or as a dump for garbage or refuse. 
For purposes herein, the term “Environmental Law” shall mean any
federal, state or local law, statute, ordinance, code, rule, regulation,
license, authorization, decision, order, injunction, decree, or rule of common
law, and any judicial interpretation of any of the foregoing, which pertains to
health, safety, any hazardous material, or the environment (including but not
limited to ground or air or water or noise pollution or contamination, and
underground or above ground tanks) and shall include without limitation, the
Solid Waste Disposal Act, 42 U.S.C. § 6901 et seq.; the
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
42 U.S.C. § 9601 et seq. (“CERCLA”), as amended by the
Superfund Amendments and Reauthorization Act of 1986 (“SARA”); the
Hazardous Materials Transportation Act, 49 U.S.C. § 1801 et seq.;
the Federal Water Pollution Control Act, 33 U.S.C. § 1251 et seq.;
the Clean Air Act, 42 U.S.C. § 7401 et seq.; the Toxic Substances
Control Act, 15 U.S.C. § 2601 et seq.; the Safe Drinking Water
Act, 42 U.S.C. § 300f et seq. 
SHOC hereby indemnifies and holds harmless the Purchaser from and
against the breach or alleged breach of any of the foregoing Environmental Laws
with respect to the Land arising prior to the Closing Date.  SHOC shall provide existing Phase I environmental
reports and reliance letters for all such environmental reports to Purchaser at
SHOC’s cost; and (iv) SHOC has delivered to Purchaser Phase I environmental
reports covering all of the Land.  The
Seller has provided disclosure of the Savory Farms Environmental Condition to
all purchasers and shall provide such disclosure to all prospective purchasers
executing prior to Closing contracts for purchase of residential units at
Savory Farms.

                                                6.1.11      Condemnation.  There are no pending and to the best of
SHOC’s knowledge there are no threatened or contemplated eminent domain
proceedings affecting the Land or any part thereof.  SHOC shall give prompt notice to the Purchaser of any such
proceedings which occur or, to the best of SHOC’s knowledge, are threatened
prior to Closing.

                                                6.1.12      Public Rights of Way.  Except as set forth in Exhibit W, the Land
is served by publicly dedicated public way(s); and the rights of ingress and
egress to and from the Land and to the best of SHOC’s knowledge such adjoining
public way(s) are not restricted or limited in any manner.

                                                6.1.13      Proceedings Affecting Development.  To the best knowledge of SHOC, there are no
pending or threatened proceedings that could have the effect of changing any
zoning of the Land or impairing or restricting access between the Land and
adjacent public roads which would materially impair the ability of the
Purchaser to develop the portion of the Land affected as a single family
residential project consistent with SHOC’s development plans for that portion
of the Land.

                                                6.1.14      Use Restrictions. 
Except for the Permitted Title Exceptions, neither SHOC, nor any
predecessor in title to SHOC, has any agreement currently in effect with any
entity, public or private, which would be binding upon the Purchaser and would
prevent the use of the Land for any of the uses allowed for single family
residential and, where applicable, mixed use development.

                                                6.1.15      Bankruptcy.  SHOC is not the subject of any bankruptcy,
reorganization or insolvency proceeding pending or, to the best of SHOC’s knowledge,
threatened against SHOC.

                                                6.1.16      Contracts. 
The list of Contracts set forth on Exhibit F attached hereto is a true
and exact list of all material contracts other than the Existing Purchase
Agreements affecting the Land or SHOC as of the Closing Date.  No amount remains unpaid thereunder except
for amounts shown on the Accrual Schedule. 
For purposes of this Section, “material” will be defined as any contract
having a total performance value of $25,000 or more, or the term of which does
not expire or cannot be terminated within thirty (30) days after the Closing
Date.

                                                6.1.17      Agreements.  Except as set forth on Exhibit X and except
for the Permitted Exceptions, there are no service contracts, management
agreements, or other agreements or instruments in force and effect, oral or
written, that grant to any person whomsoever or any entity whatsoever any
right, title, interest, or benefit in or to all or any part of the Land or
Improvements other than the Existing Purchase Agreements, or any rights relating
to the use, operation, management, maintenance, or repair of all or any part of
the Land or Improvements, which will survive the Closing or be binding upon the
Purchaser.  The list of the Existing
Purchase Agreements set forth on Exhibit I is a true and exact list of all
purchase agreements affecting the Included Assets.

                                                6.1.18      Utilities. 
To the best knowledge of SHOC, all portions of the Land are served by
utilities (which may include water, sewer, storm sewer, electricity and gas)
all in accordance with the development plans of SHOC which have been provided
to the Purchaser on or before Closing and the Land has sufficient water rights
or public water utilities to permit the development of housing units thereon in
the maximum density planned for the Land. 
The foregoing water rights are included in the Included Assets and are
not subject to an Encumbrance other than the Assumed Liabilities.

                                                6.1.19      Financial Information.  SHOC has delivered to the Purchaser copies
of the  Financial Statements and will
deliver to the Purchaser its Reference Balance Sheet.  Its Reference Balance Sheet will be complete and accurate in all
material respects and will be prepared from the books and records of SHOC in
accordance with GAAP.  Its Reference
Balance Sheet will be fairly stated as of the Reference Date.  The Financial Statements are true and
correct in all respects, have been prepared in accordance with GAAP, and
accurately portray the financial condition of SHOC as of the date
indicated.  There have been no material
changes to the condition of SHOC from the condition shown on such Financial
Statements.

                                                6.1.20      Licenses, Entitlements, and Permits. 
To the best knowledge of SHOC after due inquiry, SHOC is in material
compliance in all respects with all Licenses, Entitlements, and Permits and has
received no notification that it is not in compliance with any of the
foregoing.  No transfer fee is payable
with respect to the transfer of such permits and licenses which are
transferable.  The Licenses, Entitlements,
and Permits are sufficient in all respects to conduct the Business in the
Restricted Area including the completion of the Projects in the manner
currently under construction and development.

                                                6.1.21      Restrictive Covenants.  To the best knowledge of SHOC after due
inquiry, SHOC, the Improvements, and the Included Assets are in material
compliance with all restrictive covenants affecting the Land.

                                                6.1.22      Access to Material Information.  To the best of SHOC’s knowledge, SHOC has
not withheld from the Purchaser any material information, books, records, files
or other matters in the possession of SHOC related to the Included Assets.

                                                6.1.23      Leases.  The Leases described in Exhibit L are in full force and effect,
all obligations of SHOC are current and SHOC is in compliance, in all material
respects, with all material terms and conditions thereof and SHOC has provided
to the Purchaser complete copies of the Leases.  The Purchaser shall designate the Leases to be assumed on or
before Closing and the obligations of Purchaser with respect to the transfer
shall be conditioned upon the receipt of all required approvals.  Except for the Leases, there are no parties
in possession of the Land or entitled to possession thereof other than SHOC,
except for existing month to month leases which are subject to termination on
thirty days notice.

                                                6.1.24      Backlog Units and Speculative Units.  The list of the Backlog Units on Exhibit Y
and the Speculative Units on Exhibit Q respectively are a true and complete
list of the respective items, as of June 26, 2001.

                                                6.1.25      Warranties to Homebuyers.  SHOC and April warrant and represent
that:  (i) neither of them have provided
to any homebuyer any homeowner insurance from a third party, except HBW
warranties furnished by April to homebuyers; (ii) the forms of the warranty
provided to homebuyers during any period under which a claim can still be made,
are as set forth on Exhibit Z; and (iii) 
there are no material claims under such warranties or conditions
disclosed to or known by any of them with respect to any residential housing
units sold by any of them that has given or could give rise to any material
claims under such warranties or under applicable law other than as set forth on
Exhibit AA.

                                                6.1.26      Options.  The list of the Options is a true and exact
list of the Options.  The Options are in
full force and effect and no event of default or event that but for the passage
of time or giving of notice would constitute an event of default exists
thereunder.  At Closing, all Options
will be assigned to the Purchaser. 
Principals and SHOC, at their expense, shall use their best efforts to
obtain any approvals required under the Options prior to Closing in order to
permit the transfer and assignment thereof to the Purchaser, and shall expend
reasonable costs not to exceed $50,000 in the aggregate and any required
attorneys’ fees to obtain such approvals. 
The Schedule attached hereto as Exhibit M is a true and correct
statement of certain of the terms and conditions of the Options including the
amount of property remaining to be purchased thereunder as of the Reference
Date and projected as of the Closing Date. The warranty contained herein as to
the existence of defaults by the grantor, seller or optionor shall be limited
to the knowledge of SHOC.

                                                6.1.27      Truth and Accuracy of the
Representations and Warranties.  At
the Closing, to the best knowledge of SHOC and the Principals, after due
inquiry, no representation, warranty or covenant of SHOC contained in this
Agreement or in any other written statement or certificate delivered by SHOC
pursuant to this Agreement or in connection with the transactions contemplated
herein contains or will contain any untrue statement of a material fact or
omits or will omit to state a material fact necessary to make the statements
contained herein or therein not misleading.

                                                6.1.28      Change Orders and Cost Overruns with
Respect to Speculative Units.  To
the best of SHOC’s knowledge there are no cost overruns or change orders with
respect to the Speculative Units that would materially modify the estimates
delivered to the Purchaser.

                                6.2           Representations
and Warranties as to April.  April, as to itself, and the Principals
represent and warrant to Purchaser as follows:

                                                6.2.1        Stock Ownership and Other Matters.  The Shareholders are the lawful owners of
record and beneficially of all of the Shares, free and clear of all
encumbrances of every kind, and the Shareholders have full legal power and all
authorization required by law to transfer and deliver the Shares in accordance
with this Agreement.  At the Closing,
Shareholders will be the lawful owner of record and beneficially of the
Shares.  At the Closing, the Principals
shall cause the Shareholders to validly convey and transfer to Purchaser the
Shares, free and clear of all Encumbrances. 
None of the Shares are, or at the Closing, will be, subject to
restrictions on the transfer thereof, except for restrictions imposed by
applicable federal and state securities laws. 
Each of the Shareholders is not, and, at the Closing will not be, a
party to or bound by any written or oral contract or agreement which grants to
any Person an option or right of first refusal or other right of any character
to acquire at any time, or upon the happening of any stated events, shares of
capital stock or other securities whether or not presently issued and
outstanding on the Closing Date. 
Neither of the Shareholders is a “foreign person” within the meaning of
Internal Revenue Code Section 1445(f)(3) and Treasury Regulation Section
1.1445-2(b)(2)(i).  There is no pending
action or proceeding that has been commenced against the Shareholders that may
have the effect of preventing, delaying or making illegal the transactions
contemplated in this Agreement and, to the best knowledge of the Principals, no
such action or proceeding has been threatened. 
Neither the execution and delivery of this Agreement by SHOC nor the
consummation by the Shareholders of the transactions provided for herein or
therein will conflict with, violate, or result in a breach of, default under or
the creation of any Encumbrance pursuant to, any agreement to which the
Shareholders is a party or by which it is bound or any law, permit, license,
order, judgment or decree or any provision of the Articles of Incorporation or
By-Laws of April or any Contract to which either SHOC or April or the
Shareholders is a party.  This Agreement
has been duly executed and delivered by the Principals and constitute the
legal, valid and binding obligations of the Principals, enforceable against
them in accordance with their respective terms.  No permit, authorization, consent or approval of, or filing with
or notification to, any governmental, regulatory or administrative body or any
other third party is required in connection with the execution and delivery of
this Agreement by the Principals. No representation or warranty by the
Principals in this Agreement contains or will contain any untrue statement of a
material fact or omits or will omit to state any material fact necessary to
make any statement herein not misleading

                                                6.2.2        Transactions with Affiliates. 
Exhibit BB hereto sets forth, for (i) the Principals, (ii) any member of
the immediate family of the Principals, or (iii) any corporation, partnership,
limited liability company, trust or other entity in which any of such Persons
owns any beneficial interest (other than any publicly-held corporation whose
stock is traded on a national securities exchange or in the over-the-counter
market and less than five percent (5%) of the stock of which is beneficially
owned by any of such Persons), or is a director, officer, trustee, partner or
holder of more than five percent (5%) of the outstanding capital stock thereof
or is otherwise an Affiliate thereof (collectively “Insiders”), every
agreement, undertaking, understanding or compensation arrangement of any
Insider with April (other than normal employment arrangements) and any interest
of any Insider in any property, real, personal or mixed, tangible or
intangible, used in or pertaining to the business of April (other than
ownership of capital stock of April). 
None of the Insiders has any direct or indirect interest exceeding five
percent (5%) in any competitor, supplier or customer of April or in any Person
from whom or to whom April leases any property, or in any other Person with
whom April transacts business of any nature. 
For purposes of this Section 6.2.2, the members of the immediate family
of the Principals shall consist of the spouse, parents, children and siblings
of the Principals.

                                                6.2.3        Organization, Standing, Qualification
and Capitalization. April is a corporation duly organized, validly existing
and in good standing under the laws of the state of Colorado, and has all
requisite corporate power and authority to conduct its business as presently
conducted and to own and lease the properties and assets used in connection
therewith.  A complete and accurate copy
of (i) the Articles of Incorporation of April and all amendments thereto
certified by the Secretary of State of the State of Colorado and (ii) the
By-Laws of April and all amendments thereto, certified by April’s Secretary,
will be delivered to Purchaser at least ten days prior to the Closing
Date.  April is not qualified to do
business as a foreign corporation in any jurisdiction.

                The total authorized capital stock of
April consists of two million (2,000,000) shares of April of which six hundred
thirty nine thousand thirty eight (639,038) shares are issued and
outstanding.  All of such shares were
duly authorized and validly issued and are fully paid and non-assessable.  There are no shares of capital stock of
April issued and outstanding except for such shares.  None of such shares was issued in violation of any preemptive or
preferential right.  There are currently
no stock options outstanding.  April is
and, at the Closing, April will be, nor is either of the Shareholders, a party
to or bound by any written or oral Contract or agreement which grants to any
Person an option or right of first refusal or other right of any character to
acquire at any time, or upon the happening of any stated events, shares of
capital stock or other securities of April whether or not presently issued or
outstanding.  The Shareholders are the
holders of all outstanding securities of April.

                                                6.2.4        Subsidiaries of the Companies.  April does not own any shares of any
corporation and has no interest in any partnership, limited liability company,
joint venture or other legal entity, except for the Joint Ventures and as
described on Exhibit B.

                                                6.2.5        Financial Statements.  April has delivered to Purchaser true,
complete and accurate copies of the Financial Statements.  Except as may be adjusted on its Reference
Balance Sheet or Closing Balance Sheet, the Financial Statements are true and
correct in all material respects, have been prepared in accordance with GAAP,
and accurately portray the financial condition of April as of the date
indicated.  There have been no material
changes to the condition of April from the condition shown on such Financial
Statements.

                                                6.2.6        April Assets.  The April Assets shown on Exhibit B are
all of the assets of April.  The
Principals hereby make the representations and warranties set forth at Sections
6.1.6 through 6.1.14, 6.1.16 through 6.1.18 and 6.1.20 through 6.1.27 with
respect to the April Assets with, in each instance, the appropriate April Asset
substituted for the corresponding asset of SHOC and Exhibit B being substituted
for the corresponding Exhibit for the assets of SHOC.

                                                6.2.7        Taxes. April has duly and timely filed all Tax
Returns which were required to be filed by April, and has paid all Taxes shown
on all Tax Returns.  All Tax Returns are
true, correct and complete in all material respects.  Except for an audit of April by the IRS approximately ten (10)
years prior to the date of this Agreement, which audit did not result in any
adjustment to April’s tax returns, no Tax Return of April has been examined or
audited by the IRS or any state, local, foreign or other Taxing authority and
there are no open, pending or threatened tax-related proceedings, audits,
examinations, assessments, asserted deficiencies or claims for additional Taxes
with respect to April.  There are no
past or current revenue agents' reports or any other assertions of deficiencies
or other liabilities for Taxes (including any reports, statements, summaries
and other communications or assertions or claims of deficiencies or other
liabilities) with respect to April. 
There are no waivers or extensions of any applicable statutes of
limitation for the assessment and collection of Taxes for which April or the
Purchaser may be liable that are in effect and no requests for such waivers are
pending.  There are no Tax rulings,
requests for rulings, or closing agreements with any Taxing authority that may
affect April.  April is not required to
make any Adjustments with respect to a change in accounting method and no such
Adjustments have been proposed by the IRS or requested by April.  April is not a party to any Tax sharing or
allocation agreement, nor is it potentially required to indemnify any person
with respect to Taxes.  Except with
respect to those entities described on Exhibit J, April is not a party to any
arrangement that is treated as a partnership for Tax purposes.  No claim or inquiry has been made by any
Taxing authority in a jurisdiction where April does not file Tax Returns that
it is or may be subject to Tax in such jurisdiction.  There are no liens for Taxes upon the assets of or with respect
to April except for liens for current Taxes not yet due and payable.  No power of attorney related to Taxes has
been granted by April or with respect to April that will remain in force after
the Closing Date.  April is not and has
never been a member of an “affiliated group” within the meaning of Internal
Revenue Code Section 1504(a)(1) nor has April been required to join in any
consolidated, combined, unitary or Federal, state or local Tax filings.

                                                6.2.8        Litigation
and Labor Matters.  Other than as
shown on Exhibit T:

                                                                (a)           there is no litigation, proceeding or
governmental investigation pending or, to the knowledge of the Principals,
threatened, against or related to April or, its properties, assets or business,
other than Crum v. April Corporation
and Danyo v. April Corporation.  A reserve with respect to the Crum lawsuit will be established on the
Closing Balance Sheet of April.  If
April suffers any loss or expense with respect to the Crum lawsuit in excess of the reserve
established for the Crum lawsuit,
the Principals will pay upon demand by Purchaser all of such losses and
expenses incurred by April, including but not limited to any payments made to
any bond surety as a result of claims against any bond issued with respect to
such lawsuit, including but not limited to the appeal thereof.  If all losses and expenses incurred by April
are less than the amount of the reserve established for the Crum lawsuit, promptly upon entry of a
final, non-appealable judgment with respect to such lawsuit, Purchaser will pay
or cause April to pay to the Shareholders the amount of such reserve in excess
of all losses and expenses incurred by April with respect thereto.  The warranty reserve for April will be
reassessed prior to Closing and the Danyo
claim will be treated in accordance with Section 2.2. The Principals hereby
indemnify and hold harmless April and the Beazer Indemnified Parties against
all losses, costs and damages that any of them may incur or suffer with respect
to the Crum lawsuit.  The Principals shall provide to Purchaser periodic
reports and reports upon the request as to the status of this litigation.  The Purchaser shall grant to the Principals
at Closing the right to prosecute this litigation in the name of April from and
after Closing.  This right, however,
shall not include the right to file any counterclaims or other claims in the
name of April  The Principals shall
maintain a surety bond in the amount currently maintained until the rendering
of the final judgement with respect to the litigation or the dismissal with prejudice
of all claims in such litigation.  In no
event shall April have any obligation to reimburse the issuer of the surety
bond or any other Person with respect to the surety bond or any amounts paid
thereunder.  The Principals shall not
authorize the settlement of the litigation unless the settlement agreement is
approved in advance by the Purchaser. 
The Purchaser shall grant the approval if the Principals demonstrate the
ability to immediately pay any amounts due and owing in connection with such
settlement and no provision of such settlement is adverse to April in any
manner.  The Principals shall deliver to
the Purchaser prior to the Closing Date the agreement of the counsel to April
to look to the Principals for all legal fees and expenses in connection with
this litigation;

                                                                (b)           there is no litigation, proceeding or
governmental investigation pending or threatened, against or related to the
Shareholders or, their properties, assets or business that could reasonably be
expected to have an adverse impact on April;

                                                                (c)           April is not in default with respect
to any order, writ, injunction or decree of any court or Federal, state,
municipal or governmental department, commission, board, bureau, agency or
instrumentality;

                                                                (d)           April has not committed, and neither
the Shareholders nor April have received any notice of or claim that April has
committed any unfair labor practice under applicable Federal or state law; and

                                                                (e)           there is no pending action or
proceeding that has been commenced against April that may have the effect of
preventing, delaying or making illegal the transactions contemplated in this
Agreement and, to the best knowledge of the Principals, no such action or
proceeding has been threatened.

                                                6.2.9        Insurance.  April is insured under various policies of
fire, liability and other forms of insurance, previously disclosed to the
Purchaser, which policies are valid and enforceable in accordance with their
terms and provide adequate insurance for the April Business, in accordance with
industry standards.  At no time was
there a period in which April lacked such insurance coverage.  April shall continue to carry all such
policies or similar policies during the pendency of this Agreement, and all
outstanding claims under such policies until resolution.  April has secured and maintained at all
times all insurance policies required by any subcontract to which April is a
party.  There is no liability for
retrospective insurance premium adjustments for any period prior to the date
hereof.  The provisions of this section
are in addition to the provisions of Section 3.4.

                                                6.2.10
     Collective Bargaining Agreements.  April is not a party to any collective
bargaining agreement or other union contract.

                                                6.2.11      Intellectual Property Rights.

                                                                (a)           Exhibit CC hereto sets forth all
patents and patent applications; all trademarks, service marks, logos, trade
names (whether registered or unregistered) and applications for registration
and registrations therefor; plans and specifications for residential housing
units and the registered status thereof; Internet domain names and 1-800 and
1-888 telephone numbers; and all copyrights (whether registered or
unregistered) and applications for registration and registrations therefor,
used or developed by April, or in which April has an interest (collectively,
the “Intellectual Property Rights”), and their respective actual or potential
use or application.  No other patent,
trademark, service mark, trade name or copyright, or license under any such
patent, trademark, service mark, trade name or copyright, is necessary to
permit April to be owned by Purchaser or the April Business to be conducted as
now conducted or as heretofore or proposed to be conducted (assuming no
material change in the business as now conducted by April).  April owns exclusively and/or has the
exclusive and unrestricted right to use, free and clear of all Encumbrances,
all Intellectual Property Rights, and all renewals therefor and claims for
infringement thereof, without infringing upon or otherwise acting adversely to
the right or claimed right of any third party under or with respect to any
Intellectual Property Rights.  April is
not obligated or under any liability whatsoever to make any payments by way of
royalties, fees or otherwise to any owner or licensee of, or other claimant to,
any patent, trademark, service mark, trade name, copyright or other intangible
asset, with respect to the use of any of the Intellectual Property Rights, in
connection with the ownership of their assets, the conduct of its business or
otherwise.

                                                                (b)           April has no Trade Secrets.

                                                                (c)           The Principals and April have no
knowledge, and have not received any communication alleging, that April has
violated or, by conducting its business as now conducted or proposed to be
conducted after the Closing Date (assuming no material change in the business
now conducted by April), violates or would violate any of the patents,
licenses, trademarks, services marks, trade names, copyrights, trade secrets or
other proprietary rights of any person or entity.  The Principals and April are not aware of any third party that is
infringing upon or violating any of April’s Intellectual Property Rights,
“trade secrets” or other proprietary rights.

                                                6.2.12      Contracts and Commitments and
Liabilities.  Exhibit DD hereto sets
forth a complete and accurate list of, and April has made available to
Purchaser for its review complete and correct copies of:

                                                                (a)           Each outstanding contract that
involves the performance of services for or the delivery of goods or materials
to April of amount or value in excess of $10,000;

                                                                (b)           Each outstanding contract that was
not entered into in the ordinary course of business that involves expenditures
or receipts in excess of $10,000 to which April is a party;

                                                                (c)           Each license or other outstanding
contract with respect to intellectual property, including, without limitation,
the Intellectual Property Rights, to which April is a party;

                                                                (d)           Each outstanding contract to which
any employee of April is a party relating to wages, hours and other conditions
of employment and a list of all of the employees of April;

                                                                (e)           Each outstanding contract for capital
expenditures in excess of $10,000 to which April is a party;

                                                                (f)            Each outstanding contract or
commitment relating to the borrowing of money or a line of credit to which
April is a party or by which April or its assets are bound;

                                                                (g)           Each outstanding contract or
commitment with any present or former officer, director, stockholder, employee
or consultant of April, pursuant to which any payment is or may become due;

                                                                (h)           Each outstanding lease agreement
pertaining to any personal property leased by April;

                                                                (i)            Each outstanding representative or
sales agency contract or commitment to which April is a party;

                                                                (j)            Each outstanding contract
restricting a Person from competing with April;

                                                                (k)           Each bonus, pension, profit sharing,
retirement, stock purchase, stock option, hospitalization, insurance, vacation
pay or other similar plan;

                                                                (l)            The commitments required to be
performed and monetary obligations of April under the Joint Ventures; and

                                                                (m)          All other obligations and commitments
of April other than de minimis obligations incurred in the ordinary course of
business.

                Except for delays, minor
failures to meet specifications or other minor defaults which are normal in the
conduct of business between April and other parties to the above contracts, all
parties to the above contracts have complied with the provisions thereof, no party
is in default thereunder, and no event has occurred which but for the passage
of time or the giving of notice would constitute a default thereunder.  April has not received any written notice of
any default with respect to any of the above contracts.

                                                6.2.13      Absence of Undisclosed Liabilities.  There are no material liabilities or
obligations of April either accrued, absolute, contingent or otherwise,
including, but not limited to, any liabilities for Taxes due or to become due,
except as described above.

                                                6.2.14      Absence of Default.  April is not in material default in the
performance, observance or fulfillment of any obligation, covenant or condition
contained in any debenture or note, or contained in any conditional sale or
equipment trust agreement, or loan or other borrowing agreement to which April
is a party.

                                                6.2.15      Existing Condition.  From and after the Reference Date, there has
not been (i) any material adverse change in the business, operations,
prospects, properties, assets, liabilities, or condition, financial or
otherwise, of April; (ii) any damage, destruction or loss, whether covered by
insurance or not, materially and adversely affecting the business, operations,
prospects, properties, assets, liabilities, or condition, financial or otherwise,
of April; (iii) any declaration, setting aside or payment of any dividend, or
any distribution or payment in respect of capital stock or any other securities
of April, or any redemption, purchase or other acquisition of any capital stock
or other securities of April; (iv) any increase in the compensation payable or
to become payable by April to any of its respective officers, directors,
employees, partners or agents; (v) any change in the terms of any bonus,
insurance, pension or other benefit plan for or with any of April’s officers,
directors or employees which increases amounts paid, payable or to become
payable thereunder; or (vi) any complaints or other concerns which relate to
April’s labor relations.

                                                6.2.16      Restrictions.  April is not subject to any charter or other
corporate restriction, any agreement or any judgment, order, writ, injunction
or decree, which materially and adversely affects the business, operations,
prospects, properties, assets, liabilities, or condition, financial or otherwise,
of April.

                                                6.2.17      Employee Benefits.

                                                                (a)           Except as set forth in Exhibit EE,
April does not maintain, and has no accrued or unpaid liability with respect to
any bonus, deferred compensation, incentive compensation, stock purchase, stock
option, severance or termination pay, hospitalization or other medical, life or
other insurance, supplemental unemployment benefits, profit sharing, pension,
or retirement plan, program, agreement or arrangement, or other employee
benefit plan, program, agreement or arrangement (other than arrangements
involving the payment of wages) sponsored, maintained or contributed to or
required to be contributed to by April or by any trade or business, whether or
not incorporated (an “ERISA Affiliate”) that together with April would be
deemed a “single employer” within the meaning of Section 4001(a)(14) of ERISA,
for the benefit of any current or former employee, director, partner or
independent contractor of April or any ERISA Affiliate, whether formal or
informal and whether legally binding or not (the “Plans”) with respect to which
April or any ERISA Affiliate has or may in the future have any liability or
obligation to contribute or make payments of any kind.

                                                                (b)           Each Plan of the Companies and any
ERISA Affiliate is in writing and the Principals have furnished (or will
furnish within ten [10] Business Days) to Purchaser a copy of each Plan and any
amendments thereto and, if applicable, with respect to each Plan (i) a copy of
each trust or other funding arrangement and all amendments thereto, (ii) each
summary plan description and summary of material modifications, (iii) the three
most recently filed Forms 5500 under ERISA or the Code, (iv) all determination
letters, rulings, information letters and any other material document or
correspondence relating to a Plan from the IRS, the United States Department of
Labor, or the Pension Benefit Guaranty Corporation, (v) the three most recently
prepared financial statements and (vi) all contracts relating to the Plans with
respect to which either of the Companies or any ERISA Affiliate may have any
liability, including, without limitation, insurance contracts, investment
management agreements, subscription and participation agreements and record
keeping agreements.  April does not have
any express or implied commitment to create or incur liability with respect to
or cause to exist any other employee benefit plan, program, agreement or
arrangement, or to enter into any Contract or agreement to provide compensation
or benefits to any individual or to modify or change or terminate any Plan,
other than with respect to a modification, change or termination required by
ERISA or the Code that will not materially increase the annual cost of
maintaining such Plan.

                                                                (c)           Each Plan is now and has been
operated in accordance with its terms and the requirements of all applicable
laws, orders, rules and regulations, including, without limitation, ERISA and
the Code.  April has performed all
obligations required to be performed by it under, is not in any respect in
default under or in violation of, and has no knowledge of any default or
violation by any party to, any Plan.  No
governmental investigation or legal action, suit or claim is pending or, to the
best knowledge of the Principals and April, threatened with respect to any Plan
and, to the best knowledge of the Principals 
and April, no fact or event exists that could give rise to any such
investigation, action, suit or claim.

                                                                (d)           None of the Plans is (i) subject to
Title IV of ERISA, (ii) a “multiemployer pension plan” as such term is defined
in Section 3(37) of ERISA, (iii) subject to the laws of a country or
jurisdiction other than the United States, or (iv) subject to Section 302 of
ERISA or Section 412 of the Code.

                                                                (e)           Neither April, any ERISA Affiliate,
any of the Plans, any trust created thereunder, nor any trustee or
administrator thereof has engaged in a transaction in connection with which
April or any ERISA Affiliate, any of the Plans, any such trust, or any trustee
or administrator thereof, or any party dealing with the Plans or any such trust
could be subject to either a civil liability or penalty pursuant to Section
409, 502(i) or 502(1) of ERISA or a Tax imposed pursuant to Chapter 43 of the
Code.

                                                                (f)            Full payment has been made, or will
be made, in accordance with the terms of each of the Plans and any applicable
collective bargaining agreement, of all amounts which April or any ERISA
Affiliate is required to pay, and all such amounts properly accrued through the
Closing Date with respect to the current plan year thereof will be paid by the
Shareholders on or prior to the Closing Date or will be properly recorded on
April’s financial statements.

                                                                (g)           Each of the Plans that is intended to
be “qualified” in form within the meaning of Section 401(a) of the Code is so
qualified and has been the subject of a favorable determination letter from the
IRS regarding such qualification, no such determination letter has been revoked
and revocation has not been Threatened, no event has occurred and no
circumstances exist that would adversely affect the Tax qualification of such
Plan; and such Plan has not been amended since the effective date of its most
recent determination letter in any respect that might adversely affect its
qualification or materially increase its cost. 
Each of the Plans that is intended to satisfy the requirements under
Section 401(k) of the Code satisfies such requirements.

                                                                (h)           No employee of April will be entitled
to any additional benefits or any acceleration of the time of payment or
vesting of any benefits under any Plan as a result of the transactions
contemplated by this Agreement.

                                                                (i)            No amounts payable under the Plans
will fail to be deductible for Federal income Tax purposes by virtue of Section
280G of the Code.

                                                                (j)            No compensation payable by April to
any of its respective employees under any existing contract, Plan or other
employment arrangement (including by reason of the Contemplated Transactions)
will be subject to disallowance under Section 162(m) of the Code.

                                                                (k)           No Plan provides benefits, including,
without limitation, death or medical benefits (whether or not insured), with
respect to current or former employees upon retirement or other termination of
service (other than (i) coverage mandated by applicable law, (ii) death
benefits or retirement benefits under any “employee pension plan,” as that term
is defined in Section 3(2) of ERISA, (iii) deferred compensation benefits
accrued as Liabilities on the books of April or an ERISA Affiliate, or (iv)
benefits the full cost of which is borne by the current or former employee (or
his beneficiary)).

                                                                (l)            Exhibit FF discloses whether each
Plan that is an “employee welfare benefit plan” as defined in Section 3(1) of
ERISA (“Welfare Plan”) is (i) unfunded, (ii) funded through a “welfare benefit
fund,” as such term is defined in Section 419(e) of the Code, or other funding
mechanism, or (iii) insured.  Each such
Welfare Plan may be amended or terminated without liability to April or
Purchaser at any time after the Closing Date.

                                                                (m)          With respect to each Plan that is
funded wholly or partially through an insurance policy, there will be no
liability of April or an ERISA Affiliate, as of the Closing Date, under any
such insurance policy or ancillary agreement with respect to such insurance
policy in the nature of a retroactive rate adjustment loss sharing arrangement
or other actual or contingent liability arising wholly or partially out of
events occurring prior to the Closing Date.

                                                                (n)           Neither April nor any ERISA Affiliate
has, or will have, any current or contingent liability with respect to any
Plan.

                                                6.2.18      Bank Accounts and Directors and
Officers.  Exhibit GG contains a
true and complete list of the name and location of each bank or other financial
institution in which April has an account, each safety deposit box or custody
agreement and the names of the Persons authorized to draw thereon or to
withdraw therefrom. Exhibit GG also sets forth the names of all directors and officers
of April.

                                                6.2.19      Non-Competition Agreements. 
April is not a party to any agreement or other commitment imposing any
restriction on the manner or in the geographic location in which it conducts or
may conduct its business or uses, or may use, its properties and assets in
competition with any third party.

                                                6.2.20      Change of Control Provisions.  Neither the execution and delivery of this
Agreement nor the consummation of the transactions provided for herein or
therein will trigger any obligation of April to any Person, including, without
limitation, the obligation to make payments to any Person pursuant to any
Contract or agreement to which April is a party or by which its assets are
bound.

                                                6.2.21      Validity of Contemplated Transactions.  Neither the execution and delivery of this
Agreement by April nor the consummation by April of the transactions provided
for herein or therein will conflict with, violate, or result in a breach,
default or the creation of any Encumbrance pursuant to, any agreement to which
April is a party or by which it is bound or any law, order, judgment or decree
or any provision of the Articles of Incorporation or Bylaws of April or any
Contract to which April is a party. 
April has the full power and legal authority to execute this Agreement
and to consummate and perform the transactions contemplated hereby and
thereby.  The execution and delivery of
this Agreement and the consummation of the transactions contemplated hereby and
thereby are within the corporate power of April and has been duly authorized by
all necessary corporate action on the part of April.  This Agreement has been duly executed and delivered by April and
constitutes the legal, valid and binding obligations of April, enforceable
against it in accordance with its terms.

                                                6.2.22      Disclosure.  No representation or warranty by April in
this Agreement nor any statement, document or certificate furnished or to be
furnished to Purchaser in connection herewith or pursuant hereto contains or
will contain any untrue statement of a material fact or omits or will omit to
state any material fact necessary to make any statement herein or therein not
misleading.  April has made available
for inspection by Purchaser and its representatives complete and correct copies
of the corporate minute books of April. 
Such minute books contain the minutes of all meetings of stockholders,
the board of directors and any committees thereof of April that have been held
prior to the date hereof and all written consents to action executed in lieu
thereof.

                                                6.2.23      Joint Ventures.  April is a party only to the Joint Ventures
and the list of the Joint Ventures on Exhibit J is a true and correct and
comprehensive list of the Joint Ventures and the interests held by April and
any Person which is an Affiliate of April therein.  There exists no default or breach or event that but for the
giving of notice or passage of time would constitute a breach or default by
April under the Joint Ventures. There is no obligation for future funding of
any capital amounts or to make any loans or other contribution to any of the
Joint Ventures except as designated on Exhibit J.  All amounts required to be paid under any Joint Venture by April
and any Person which is an Affiliate of April have been paid in full.

                                6.3           Representations
and Warranties of Beazer and the Purchaser. 
As a material inducement to the Principals and SHOC to enter into this
Agreement and to sell the Included Assets, except as set forth in the Beazer
SEC Reports Beazer and the Purchaser hereby represent and warrant to the
Principals and SHOC as follows:

                                                6.3.1        Organization.  Beazer is a corporation duly organized and
validly existing under the laws of the State of Delaware, is in good standing
under the laws of the State of Delaware and has full and lawful right, power
and authority to execute and deliver this Agreement and to consummate the
transactions contemplated hereby.  The
Purchaser is a corporation duly organized and validly existing under the laws
of the State of Delaware, in good standing under the laws of the State of
Delaware and has full and lawful right, power and authority to execute and
deliver this Agreement and to consummate the transaction contemplated
hereby.  Each of Beazer and the Purchaser
has full and lawful right, power and authority to own, lease, and operate its
properties and to carry on its business as is now being conducted or as is
contemplated by this Agreement.  A
complete and accurate copy of (i) the Articles of Incorporation of each of
Beazer and Purchaser certified by the Secretary of State of Delaware and (ii)
the Bylaws, and all amendments thereto, of each of Beazer and Purchaser
certified by the secretary of each, will be delivered to Principals at least
ten (10) days prior to the Closing Date.

                                                6.3.2        Qualification.  Each of Beazer and the Purchaser is duly
qualified, or licensed and in good standing to do business in each jurisdiction
in which the property owned, leased or operated by it or the nature of the
business conducted by it or contemplated by this Agreement makes such
qualification or licensing necessary, except in such jurisdictions where the
failure to be so duly qualified or licensed and in good standing would not have
a material adverse effect upon Beazer or the Purchaser.

                                                6.3.3        Due Execution.  This Agreement and the transactions
contemplated by this Agreement (including but not limited to the issuance and
delivery of the Beazer Stock as a part of the Purchase Price) has been duly
authorized, executed and delivered by each of Beazer and the Purchaser where
required, is binding upon each of Beazer and the Purchaser and is enforceable
in accordance with its terms, subject to bankruptcy, insolvency, reorganization
and other laws of general application affecting the enforcement of the rights
or remedies of creditors generally.

                                                6.3.4        Bankruptcy.  Neither Beazer nor the Purchaser is the
subject of any bankruptcy, reorganization or insolvency proceeding pending or,
to the best of Beazer’s or the Purchaser’s knowledge, threatened against either
Beazer or the Purchaser.

                                                6.3.5        No Conflict.  Neither the execution and delivery of this
Agreement by the Purchaser nor its performance will create in any party the
right to accelerate, terminate or modify any agreement that would materially
and adversely affect its ability to perform this Agreement nor is any notice,
consent or approval of any governmental body required for the Purchaser to
consummate the transaction contemplated herein.

                                                6.3.6        Capitalization of Beazer and Its
Subsidiaries.

                                                                (a)           The authorized common stock of Beazer
consists of 30,000,000 shares of Beazer Stock, of which, as of May 9, 2001,
8,559,721 shares of Beazer Stock were outstanding and an additional 3,799,004
shares were held as treasury shares. 
All of the outstanding shares of Beazer Stock have been validly issued
and are fully paid, nonassessable and free of preemptive rights.  As of May 9, 2001, 1,629,274 shares of
Beazer Stock were reserved for issuance and issuable upon or otherwise deliverable
in connection with the exercise of outstanding options and warrants.

                                                                (b)           As of the date hereof, except as set
forth in Section 6.3.6(c), there are outstanding (i) no shares of capital stock
or other voting securities of Beazer; (ii) no securities of Beazer or its
subsidiaries convertible into or exchangeable for shares of capital stock, or
voting securities of Beazer; (iii) no options or other rights to acquire from
Beazer or its subsidiaries and, no obligations of Beazer or its subsidiaries to
issue any capital stock, voting securities or securities convertible into or
exchangeable for capital stock or voting securities of Beazer; and (iv) no
equity equivalent interests in the ownership or earnings of Beazer or its
subsidiaries or other similar rights (collectively, "Beazer Securities").  As of the date hereof, there are no
outstanding obligations of Beazer or any of its subsidiaries to repurchase,
redeem or otherwise acquire any Beazer Securities.  Other than as provided herein, there are no stockholder
agreements, voting trusts or other agreements or understandings to which Beazer
is a party or by which it is bound relating to the voting of any shares of
capital stock of Beazer.

                                                                (c)           When delivered pursuant to this
Agreement each share of Beazer Stock issued as a part of the Purchase Price
will be fully paid, validly issued and outstanding and not subject to
assessment or claim of right by any person claiming through Beazer or
Purchaser.

                                                6.3.7        SEC Reports; Financial Statements.  Beazer has filed all required Beazer SEC
Reports with the Securities and Exchange Commission and has complied in all
material respects with all applicable requirements of the Securities Act of
1933 and the Securities and Exchange Act of 1934, each as in effect on the
dates such forms, reports and documents were filed.  None of such Beazer SEC Reports, including, without limitation,
any financial statements or schedules included or incorporated by reference
therein, contained when filed any untrue statement of a material fact or
omitted to state a material fact required to be stated or incorporated by
reference therein or necessary in order to make the statements therein in light
of the circumstances under which they were made not misleading.  The audited consolidated financial
statements of Beazer (including the consolidated statements of income and cash
flow) included in the Beazer SEC Reports fairly present in conformity with
generally accepted accounting principles applied on a consistent basis (except
as may be indicated in the notes thereto) the consolidated financial position
of Beazer and its consolidated subsidiaries as of the dates thereof and their
consolidated results of operations and cash flows for the periods indicated.

                                                6.3.8        Consents and Approvals; No
Violations.

                                                                (a)           No filing with or notice to, and no
material permit authorization consent or approval of any governmental entity is
necessary for the execution and delivery by Beazer or Purchaser of this
Agreement or the consummation by Beazer or Purchaser of the transactions
contemplated hereby, except where the failure to obtain such permits,
authorizations, consents or approvals or to make such filings or give such
notice would not have a material adverse effect on Beazer.

                                                                (b)           Neither the execution, delivery and
performance of this Agreement by Beazer or Purchaser, nor the consummation by
Beazer or Purchaser of the transactions contemplated hereby, will (i) conflict
with or result in any breach of any provision of each of the certificate of
incorporation or bylaws (or similar governing documents) of Beazer and
Purchaser or any of Beazer's other subsidiaries, (ii) result in a violation or
breach of or constitute (with or without due notice or lapse of time or both) a
default (or give rise to any right of termination, amendment, cancellation or
acceleration or lien) under any of the terms, conditions or provisions of any
material note, bond, mortgage, indenture, lease, license, contract, agreement
or other instrument or obligation to which Beazer or Purchaser or any of
Beazer's other subsidiaries is a party or by which any of them or any of their
respective properties or assets may be bound or (iii) violate any order, writ,
injunction, decree, law, statute, rule or regulation applicable to Beazer or
Purchaser or any of Beazer's other subsidiaries or any of their respective
properties or assets which violation could have a material adverse effect on
Beazer.

                                                6.3.9        No Default.  None of Beazer or any of its subsidiaries is
in breach, default or violation (and no event has occurred that, with notice or
the lapse of time or both, would constitute a breach, default or violation) of
any term, condition or provision of (a) its certificate of incorporation or
bylaws (or similar governing documents), (b) any note, bond, mortgage,
indenture, lease, license, contract, agreement or other instrument or
obligation to which Beazer or any of its subsidiaries is now a party or by
which any of them or any of their respective properties or assets may be bound
or (c) any order, writ, injunction, decree, law, statute, rule or regulation
applicable to Beazer or any of its subsidiaries or any of their respective
properties or assets except, in the case of (b) or (c), for violations,
breaches or defaults that would not have a material adverse effect on Beazer.

                                                6.3.10      No Undisclosed Liabilities; Absence of
Changes.  Except as reflected in the
most recent financial statements of Beazer included in the Beazer SEC Reports,
none of Beazer or its subsidiaries has any liabilities or obligations of any
nature, whether or not accrued, contingent or otherwise that would be required
by GAAP to be reflected on a consolidated balance sheet of Beazer and its
consolidated subsidiaries (including the notes thereto), other than liabilities
incurred in the ordinary course of business since the date of the filing of the
Beazer SEC Report containing financial statements next preceding the date of
this Agreement.

                                                6.3.11      Litigation.  There is no suit, claim, action, proceeding
or investigation pending or, to the knowledge of Beazer threatened, against
Beazer or any of its subsidiaries or any of their respective properties or
assets that, individually or in the aggregate, could reasonably be expected to
have a material adverse effect on Beazer or could reasonably be expected to prevent
or delay the consummation of the transactions contemplated by this
Agreement.  None of Beazer or its
subsidiaries is subject to any outstanding order, writ, injunction or decree
that, insofar as can be reasonably foreseen in the future, could reasonably be
expected to have a material adverse effect on Beazer or could reasonably be
expected to prevent or delay the consummation of the transactions contemplated
hereby.

                                                6.3.12      Compliance with Applicable Law.  Beazer and its subsidiaries hold all
material permits, licenses, variances, exemptions, orders and approvals of all
governmental entities necessary for the lawful conduct of their respective
businesses.  Beazer and its subsidiaries
are in compliance with the terms of such Licenses, Entitlements and Permits,
except where the failure so to comply would not have a material adverse effect
on Beazer.  The businesses of Beazer and
its subsidiaries are not being conducted in violation of any law ordinance or
regulation of any governmental entity except for violations that do not and,
insofar as reasonably can be foreseen in the future, will not have a material
adverse effect on Beazer.  No
investigation or review by any governmental entity with respect to Beazer or
its subsidiaries is pending or, to the knowledge of Beazer, threatened nor, to
the knowledge of Beazer, has any governmental entity indicated an intention to
conduct the same, other than in each case those that Beazer reasonably believes
will not have a material adverse effect on Beazer.

                                                6.3.13      Environmental Indemnity.  Each of Beazer and the Purchaser hereby
indemnifies and holds harmless the Seller Indemnified Parties from and against
the breach of any Environmental Law with respect to the Land arising after the
Closing Date.  The provisions of this
Section shall not apply, however, to: 
(i) any environmental condition or breach of any Environmental Law
existing as of the Closing Date that is known, or after due inquiry would be
known, or would have been known or disclosed to any of the Principals, SHOC,
April or the officers of SHOC or April and which has not been disclosed to the
Purchaser; (ii) any environmental condition or breach of any Environmental Law
that has been caused by or results from the action or inaction of any of SHOC,
April, the Principals or any of their employees or Affiliates; or (iii) any
environmental condition (other than the Savory Farms Environmental Condition)
or breach of Environmental Law existing after the Closing Date attributable to
a discharge or condition occurring or existing on the Land on or prior to the
Closing Date.

                                                6.3.14      Brokers.  No broker, finder or investment banker is entitled to any
brokerage, finder's or other fee or commission in connection with the
transactions contemplated by this Agreement, based upon arrangements made by or
on behalf of Beazer or Purchaser.

                                                6.3.15      Truth and Accuracy of Representations
and Warranties.  At the Closing, no
representation, warranty or covenant of the Purchaser or Beazer contained in
this Agreement or in any other written statement or certificate delivered by
the Purchaser or Beazer pursuant to this Agreement or in connection with the
transactions contemplated herein contains or will contain any untrue statement
of a material fact or omits or will omit to state a material fact necessary to
make the statements contained herein or therein not misleading.

                                6.4           Representations
and Warranties of the Principals.  The Principals are the beneficiaries of the
Shareholders without Encumbrance. 
Accordingly, the Principals have received good and adequate
consideration for entering into this Agreement.

                                6.5           General Provisions as to Representations
and Warranties. Each Person making a representation
contained in Sections 6.1 through 6.2.23 above confirms that such representation
is true in all material respects, and is in full force and binding upon such
Party, as of the Effective Date and shall be in full force and shall be
reaffirmed and restated in their entirety in writing by such Person as of the
date and time of the Closing Date as if given on the date of Closing Date,
except for any change in any such warranty or representation that occurs and is
disclosed by such Person, to the parties for whose benefit such representation
was made, expressly, in writing and promptly upon its occurrence, which
disclosures shall thereafter be updated by such Person to the Closing
Date.  If such representations and
warranties are not true or satisfied, in any material respect, at Closing,
then, the Person making such untrue or unsatisfied warranty will be in default
under this Agreement and the rights of the non-defaulting parties will be
governed by the provisions of Section 13. 
If the Person making such untrue or unsatisfied warranty is a Seller, April
or a Principal, the Purchaser shall also have the right to the remedy of
specific performance and all other available remedies against the Seller or
Principals, or April to cause compliance with the representations and
warranties or exclude any Included Asset that is the subject of an inconsistent
representation and warranty, close the transaction contemplated hereby
excluding such asset and receive a reduction in the Purchase Price based upon
the book value of such excluded asset. 
The provisions of this Section are subject, however, to the provisions
of Section 19.  Upon any termination of
this Agreement pursuant to this Section, neither the Seller nor the Principals
nor the Purchaser shall have any further rights, duties or obligations under
this Agreement.

                The representations and warranties
contained herein shall be absolute as of the Effective Date but shall be to the
best knowledge and belief of the Person making such warranties from the
Effective Date to the Closing Date as to those matters where the information
contained therein or from which the representation and warranty is based is not
available after due inquiry. Any Person making a warranty shall remain liable,
however, for any intentional acts undertaken by such Person which cause the
representations and warranties made by such Person to be untrue in a material
respect as of the Closing Date.

                Section
7.               ADDITIONAL AGREEMENTS.

                                7.1           Agreements Affecting the Included Assets. 
So long as this Agreement remains in full force, except for the
contracting for and sale of residential housing units, the acquisition of lots
in the normal course of business, the formation of special districts for the
Castle Star and Bellcross Ranch properties and performance of its obligations
under contracts in existence on the date of this Agreement, without the prior
approval of Purchaser, neither SHOC nor April shall sell, contract to sell,
option, assign, rent, lease, convey (absolutely or as security), grant a
security interest in or otherwise encumber or dispose of all or any part of the
Included Assets (or any interest or estate in the Included Assets), or the
April Assets nor take any action that would change or affect the zoning of the
Included Assets or the April Assets or restrict the development of the Included
Assets, or the April Assets materially or adversely affect the Licenses,
Entitlements and Permits or the Options, or convey, license, encumber or
otherwise limit the effectiveness of any of the Intellectual Property
Rights.  SHOC and April agree to make
all material decisions with respect to the Included Assets and the April Assets
only with the prior approval of the Purchaser which shall include significant
price discounts, owner concessions or promotions.  The term significant in this instance shall mean a variance of
more than ten percent (10%) in the pricing structure, discounts and promotions
as of the Reference Date.  Neither SHOC
nor April shall make any additional acquisitions including any land
acquisitions in the Restricted Area without prior approval of the
Purchaser.  Neither SHOC nor April shall
incur any expenses or make any payments outside of the normal course of
business prior to the Closing.  April
shall not incur any additional liabilities or obligations from the Effective
Date through Closing.  April shall not,
and shall cause any Person which is an Affiliate of either it or SHOC not to,
make any modification, amendment or change in any Joint Venture without the
prior approval of the Purchaser.

                                7.2           Purchaser’s Access and Inspection. 
Upon the Purchaser’s reasonable request, SHOC and April shall provide
the Purchaser and its authorized representatives full access during normal
business hours from and after the date hereof until the Closing to the Included
Assets and the April Assets and the books and records of SHOC and April
relating to SHOC’s Business for the purpose of making such investigation as the
Purchaser may desire, and the Principals and SHOC shall furnish the Purchaser
such information concerning SHOC’s Business and April’s Business or the
Included Assets and the April Assets as the Purchaser may request.  The Principals, SHOC and April shall assist
the Purchaser in making such investigation and shall cause its counsel,
accountants, engineers, consultants and other non-employee representatives to
be reasonably available to the Purchaser for such purposes.

                                7.3           Cooperation. 
The parties shall cooperate fully with each other and with their
respective counsel and accountants in connection with any steps required to be
taken as part of their respective obligations under this Agreement, and all
parties shall use their best efforts to consummate the transactions
contemplated herein and to fulfill their obligations hereunder, including,
without limitation, causing to be fulfilled at the earliest practical date the
conditions precedent to the obligations of the parties to consummate the
transactions contemplated hereby. Without the prior written consent of the
other parties, no party hereto may take any intentional action that would cause
the conditions precedent to the obligations of the parties hereto to effect the
transactions contemplated hereby not to be fulfilled, including, without
limitation, taking or causing to be taken any action which would cause the
representations and warranties made by such party herein not to be true,
correct and complete as of the Closing.

                                7.4           Expenses. 
All expenses incurred by the Purchaser in connection with the
authorization, preparation, execution and performance of this Agreement,
including, without limitation, all fees and expenses of agents,
representatives, counsel and accountants for the Purchaser, shall be paid by
the Purchaser.  All expenses incurred by
the Seller in connection with the authorization, preparation, execution and
performance of this Agreement, including, without limitation, all fees and
expenses of agents, representatives, counsel and accountants for the Seller,
the Principals or April shall be paid by April prior to Closing or SHOC and the
Principals.

                                7.5           Covenant Against Competition and Right of
First Offer.  In
order to induce the Purchaser to enter into this Agreement and purchase the
Included Assets and the Shares as provided herein, and for the consideration
specified in Section 3, the Principals agree that, for a period of two (2)
years beginning on the Closing Date and ending on the second anniversary date
thereof, the Principals shall not, and shall not permit SHOC to, without the
prior written consent of the Purchaser, for their own account or jointly with
another, directly or indirectly, for or on behalf of any individual,
partnership, corporation or other legal entity, as principal, agent or
otherwise (i) engage in residential construction or sales in the Restricted
Area; (ii) within one year from the Closing Date, solicit the employment of any
of the employees of SHOC unless the Purchaser has not offered such employee a
position with the Purchaser within three (3) months of the Closing Date or
unless the Purchaser has terminated such employee; (iii) use in any manner
whatsoever, any of the plans and specifications, or designs included in the
Included Assets and the Intellectual Property Rights for residential housing
units constructed in the Restricted Area; or (iv) offer for sale, invest in or
otherwise conduct business activities that are competitive with the products
and services offered for sale by the Purchaser in the Restricted Area at any
time during such two year period including the sale of title, life or
homeowners insurance, warranty program, loans, mortgages and other financial
services or other products and services. 
The Non-Competition Agreements shall be in the form attached as Exhibit
HH.  The Non-Competition Agreements
shall not extend to acquisition and development of land without the
construction of a residential dwelling thereon. SHOC and the Principals,
however, during the term of such Non-Competition Agreements, shall provide to
the Purchaser the right to purchase all lots or other land developed by SHOC or
the Principals or Person which is an Affiliate of either of SHOC or the Principals
as follows:

                If such party intends to sell
any lot or other land developed by such party (other than an Excluded Asset),
such party will first offer the property intended to be sold to the Purchaser
at the amount such party intends to sell such property.  The Purchaser will have a period of twenty
(20) Business Days to indicate its interest to purchase such property at the
offered price.  If the Purchaser does
not indicate its interest to purchase such property within such twenty (20)
Business Day period, such party will be free to sell such property, provided
that the sales price is equal to or in excess of the price offered to the
Purchaser.  In the event that the Seller
intends to sell a tract on a staged closing basis, then the Seller shall offer
the Property to the Purchaser on that staged basis.

                                7.6           Waiver of Bulk Sales Law Compliance. 
Compliance with the bulk sales laws in effect in any jurisdiction where
SHOC or April conducts its business is hereby waived by the Purchaser, and SHOC
and April hereby jointly and severally agree to defend, indemnify and hold
harmless the Purchaser and its Affiliates from and against any claims by any
Person arising out of or due to the failure to comply with such bulk sales
laws, including, without limitation, any claims by any Person against all or
any part of the Included Assets.

                                7.7           Employees. 
The Purchaser and Principals agree that the Purchaser is acquiring
certain but not all of the assets of SHOC. The Purchaser has made no commitment
and has no obligation to employ any of the current employees of SHOC other than
those employees who have been hired by Beazer. 
SHOC shall remain responsible for all compensation and other obligations
to such employees including any accrued bonuses or other deferred compensation
that have been earned through the Closing Date.  The employees of SHOC that are employed by Purchaser will receive
credit for time in service with SHOC and its affiliates consistent with credit
for time and service with such affiliates given to such employees by SHOC for
purposes of employee benefits and vacation, receive benefits of Purchaser with
no denial of benefits because of preexisting conditions provided that such
hired employees shall be provided benefits consistent with existing Purchaser employee
benefit plans in effect as of the date hereof.

                SHOC will provide to the
Purchaser a list of its current employees who work on matters related to SHOC’s
Business.  SHOC hereby authorizes the
Purchaser with SHOC’s prior approval to negotiate, without obligation, to
employ any of the foregoing employees without liability to SHOC provided each
party shall be responsible for its own violations of any applicable employment
laws.

                SHOC shall be responsible for
the payment of any severance payments due to the employees and shall pay any
benefits and accrued payments to which the employees may be entitled except for
those accrued benefits included on its Closing Balance Sheet to the extent
included in the Credit Liabilities. 
SHOC shall not be responsible for payment of any severance payments of
the Purchaser.

                The Principals will execute a
termination of their employment arrangements with April on or before
Closing.  Further, SHOC and April shall
cause the payment of all sums due and owing by any of them to the Principals
prior to Closing.  SHOC shall also pay
all amounts payable to William Swartz and Barbara Dangleis when due.  These amounts shall not constitute Assumed
Liabilities.  SHOC and the Principals
shall indemnify and hold harmless the Beazer Indemnified Parties from any
amounts claimed to be owed by William Swartz and Barbara Dangleis and from the
distribution of any amounts or of the Shares to any employee of SHOC.

                                7.8           Post
Closing Wind Up.  The
Principals and SHOC may retain copies of records transferred to the
Purchaser.  Purchaser agrees to
cooperate with the Seller and the Principals in order to permit the Seller and
the Principals to prepare its Tax Returns, financial statements and other
financial information.

                                7.9           Savory
Farms Environmental Condition. 
As a condition to the Purchaser’s obligation to close, SHOC shall pay
for and obtain for the Beazer Indemnified Parties an environmental insurance
policy or an endorsement to the existing environmental policy acceptable to the
Purchaser insuring the Beazer Indemnified Parties against any liabilities with
respect to the Savory Farms Environmental Condition.

                                7.10         Brokerage Company. 
SHOC shall cause the real estate brokerage company affiliated with SHOC
to be owned at Closing by not more than eighty percent (80%) by a Beazer
designated entity and the balance by a licensed real estate broker in the State
of Colorado designated by the Purchaser.

                                7.11         High
View.  SHOC and the Principals hereby indemnify and
hold harmless the Beazer Indemnified Parties from any liability whatsoever with
respect to High View including any warranty work or product liability with
respect to homes constructed by or on behalf of High View and any Tax liability
with respect to High View including any Tax Liability arising from the
divestiture of the 20% interest of April in High View.  SHOC and the Principals shall cause the
termination and release at Closing of all obligations of April in favor of High
View to conduct any warranty work on residential housing units of April.

                                7.12         Balance Sheet. 
SHOC and the Principals shall prepare and deliver to the Purchaser on or
before the date reasonably requested by the Purchaser, audited Financial
Statements in form acceptable to the Purchaser for SHOC and April and dated
through December 31, 2000.

                Section
8.               CLOSING PERIOD. 
The Principals, SHOC and April shall have until the Closing Date to
obtain all necessary consents for the transfer of the Included Assets to the
Purchaser and to satisfy the closing conditions set forth in Section 15.  In the event that the Purchaser determines,
in its sole discretion, that, the appropriate consents have not been obtained,
or the condition of any of the Included Assets or the April Assets has been the
subject of a material change, or any of the representations and warranties of
SHOC, the Shareholders, April or the Principals are not true and correct in all
material respects, then at the option of the Purchaser may:  (i) waive any breach related thereto and
close the transaction contemplated hereby in accordance with the terms hereof;
(ii) exclude any asset that has been impaired or is the subject of a material
change and receive a credit against the Purchase Price in the Book Value of
such assets or exclude any liability which does not comport with the terms of
this Agreement; or (iii) terminate this Agreement.

                Section 9.               CLOSING.

                                9.1           Closing Date and Place. The Closing shall occur on the Closing
Date in Denver, Colorado.  The
Purchaser, Seller and Principals shall satisfy the conditions contained herein
including the execution and delivery of the documents required to be executed
and delivered hereunder on the Closing Date. 
All documents shall be dated as of the Closing Date and the Closing
shall be deemed to have occurred as of 11:59 p.m. on the Closing Date.

                                9.2           Closing Transactions. 
The following shall occur at the closing and, as to the closing
documents, shall be deemed delivered on the Closing Date, each being a
condition precedent to the others and all being considered as occurring on the
Closing Date in the order specified in Section 9.2.1 below:

                                                9.2.1        At Closing, the following will occur, in
the order set forth below:

                                                                (a)           SHOC shall sell the Included Assets
to the Purchaser for the Purchase Price allocated to the Included Assets in
accordance with Section 3;

                                                                (b)           SHOC shall pay twenty percent (20%)
of Purchase Price so allocated to the Included Assets, net of any expenses
attributable to this Agreement, to April in redemption of April’s partnership
interest in SHOC;

                                                                (c)           April shall dividend to the Shareholders the amount paid
to April by SHOC in accordance with Section 9.2.1(b), less any amounts required
to be accrued by April for any federal and state tax liability with respect to
the transactions described in Sections 9.2.1(a) and 9.2.1(b); and

                                                                (d)           The Shareholders shall sell and
convey the Shares to the Purchaser.

                                                9.2.2        In furtherance of the foregoing, at
Closing:

                                                                (a)           SHOC shall execute in recordable form
and deliver to the Purchaser bargain and sale deeds conveying title to the Land
and Improvements.

                                                                (b)           The Purchaser shall pay to the Seller
the Purchase Price for the Included Assets in the amount and the manner
specified in Section 3 hereof.

                                                                (c)           SHOC shall execute and deliver an
assignment of the Leases in a form approved by the Purchaser and the Purchaser
shall execute and deliver its assumption thereof at Closing.

                                                                (d)           SHOC shall execute and deliver an
assignment of the Options to Purchaser in a form approved by the Purchaser and
Purchaser shall execute and deliver its assumption thereof.

                                                                (e)           SHOC shall cause to be executed and
delivered to the Purchaser an affidavit of SHOC stating that:  (i) there
are no boundary disputes affecting the Land, (ii) improvements or repairs which
have been made on the Land by SHOC within ninety-five (95) days prior to
Closing and all costs with respect thereto have been paid in full or will be
accrued on its Closing Balance Sheet, (iii) SHOC is not a “foreign person”
within the meaning of Section 1445 of the Internal Revenue Code of 1986, as
amended, (iv) except as set forth in Section 6.1 of this Agreement, no party
other than SHOC has possession or rights to possession of the Land, and (v)
such other information as the Purchaser’s title insurer may reasonably require
in order to delete the standard printed exceptions in the Purchaser’s policy of
owner’s title insurance.

                                                                (f)            The Purchaser shall approve the
Exhibits and Schedules to this Agreement and the contents thereof as a
condition precedent to the obligations of the Purchaser hereunder.

                                                                (g)           The parties shall reaffirm to each
other that the warranties and representations set forth in Section 6 hereof are
true and correct in all material respects as of the Closing Date, except for
such matters as the certifying party has advised the other pursuant to such
Section.

                                                                (h)           SHOC shall deliver to the Purchaser
possession of the Included Assets as herein contemplated.

                                                                (i)            SHOC shall execute and deliver to
the Purchaser a warranty bill of sale conveying the Personal Property and any
Intellectual Property to the Purchaser.

                                                                (j)            The Purchaser shall deliver to SHOC
an assumption of the Assumed Liabilities.

                                                                (k)           The Principals shall cause the
Shareholders to deliver or cause to be delivered to the Purchaser, free and
clear of all Encumbrances thereon of every kind, the certificates for the
Shares in negotiable form for valid transfers, duly endorsed in blank or with
separate executed stock transfer powers attached.

                                                                (l)            SHOC and the Principals shall
execute and deliver the Non-Competition Agreements.

                                                                (m)          SHOC shall provide to the Purchaser
evidence satisfactory to the Purchaser of the satisfaction of the closing
conditions set forth at Section 15.2.

                                                                (n)           The Principals shall cause the Shareholders
to deliver to the Purchaser the April bank accounts and any balances which may
be contained therein at the time of Closing, together with any cash on hand and
other April Assets.

                                                                (o)           SHOC shall execute and deliver an
assignment of the Contracts in a form approved by the Purchaser.

                                                                (p)           SHOC shall execute and deliver an
assignment of the Existing Purchase Agreements in a form approved by the
Purchaser.

                                                                (q)           SHOC, Principals and High View shall
execute and deliver the General Release and Covenant Not To Sue required under
Section 19.

                                                                (r)            SHOC shall execute and deliver to
the Purchaser a power of attorney coupled with an interest which shall
authorize and empower the Purchaser to complete and file all necessary
documentation on behalf of SHOC or April regarding claims under the Companies’
insurance policies, except to the extent of any coverage resulting from the
Seller Indemnified Parties being additional insureds under any liability
policies maintained on behalf of the Companies.

                                                                (s)           SHOC shall provide to the Purchaser
the Environmental Insurance Policy or the endorsement to the existing
Environmental Insurance Policy to be issued in favor of the Beazer Indemnified
Parties with respect to the Savory Farms Environmental Condition.

                                                                (t)            SHOC and the Principals shall provide to the Purchaser
policy endorsement or endorsements from the insurance companies issuing the
Companies’ product liability and general liability insurance policies complying
with the terms of Section 3.4.

                                                                (u)           SHOC and the Purchaser shall execute
and/or deliver, and the Principals shall cause the Shareholders to execute and
deliver, as applicable, such other documents, certificates and the like, as may
be required pursuant to this Agreement or necessary or desirable to carry out
their respective obligations under this Agreement.

                                                9.2.3        The performance by each party hereto of
its obligations as set forth in this Section 9.2 shall constitute an express
condition to the performance by the other party hereto of its obligations under
this Section 9.2, and the failure of either party to perform its respective
obligations as set forth in this Section 9.2 shall excuse performance by the
other party of its respective obligations set forth in this Section 9.2.  Nothing contained in this Section, however,
shall release or discharge the non-performing party from its obligations and
liabilities under this Agreement.

                                9.3           Prorations; Expenses of Closing.

                                                9.3.1        Ad valorem Taxes for the Land for the
year of the Closing shall be prorated as of the Closing Date based on the most
current tax bill for the Land and on the basis of the fiscal year for which
such taxes are levied or assessed, i.e., January 1 through
December 31.  SHOC shall be responsible
for all “roll back” taxes applicable to any period of ownership other than that
of the Purchaser.  The Purchaser shall
be responsible for the ad valorem real estate taxes attributable to the Land
for the period after the Closing Date. If any of the Land is treated as part of
a larger tract for ad valorem real estate tax purposes, then the ad valorem
real estate taxes attributable to such Land shall be equal to the taxes
assessed against such larger tract (land only) multiplied by a fraction, the
numerator of which is the acreage in the Land and the denominator of which is
the acreage in the larger tract.  If the
actual tax bill for the year of Closing dif­fers from the tax bill upon which
the proration is based, the parties 
agree that the deferred portion of the Purchase Price will be adjusted
to conform to the actual bill when received and that appropriate payments will
be made by the parties at the time of receipt of the tax bill in accordance
with such adjustment.

                                                9.3.2        SHOC shall pay all transfer, sales,
franchise and documentary stamp taxes as well as any assumption or assignment
fees or charges in connection with the purchase and sale contemplated in this
Agreement, including any reasonable amounts necessary in order to transfer the
Options to the Purchaser not to exceed $50,000 in the aggregate and SHOC’s
attorneys’ fees.  The Purchaser shall
pay its attorneys’ fees.  All escrow
expenses and other costs associated with the transfer of the Land in the State
of Colorado shall be paid by SHOC.  The
Seller shall pay the costs for an owner’s title insurance policy insuring the
value of the Land.

                                                9.3.3        SHOC has not prorated real estate taxes
for the year of Closing with respect to any residential units sold by
SHOC.  SHOC has agreed to pay or
reimburse purchasers of residential units for the portion of the real estate
taxes attributable to each residential unit sold by SHOC for the period of the
year of closing elapsing prior to closing. 
The obligation to reimburse such purchasers will not be an Assumed
Liability and the Purchaser will not receive a credit for any reserve or
accrual of such obligation appearing upon the balance sheet of SHOC.  Furthermore, SHOC shall pay into an escrow
account with a title insurance company approved by the Purchaser in an amount
reasonably acceptable to the Purchaser and SHOC to pay the foregoing taxes or
to reimburse the homeowners in a timely manner.  Any amounts in the account shall be made available by the title
company to the Purchaser to satisfy any indemnified claims under this section,
and the balance remaining in such account, if any, shall be paid to SHOC on
December 31, 2002.

                Section
10.             CONDEMNATION OR
DESTRUCTION.  If,
between the Effective Date and the Closing, any portion of the Land or interest
therein that is of such size and configuration or character to interfere with
the development of the Land for the Purchaser’s intended use is taken in
condemnation or is materially damaged or destroyed, the Purchaser shall have
the right by written notice given to the Seller and Principals to terminate
this Agreement, or to exclude that particular portion of the Land or the
Project affected by the condemnation and receive a reduction in the Purchase
Price based upon the book value of the asset taken (which shall apply to the
Cash Portion of the Purchase Price) and in the event of such termination, the
parties hereto shall have no further liability or obligation to each other or
to anyone else under this Agreement.

                Section
11.             BROKERS. 
Each party represents to the other that there is no broker or other
person entitled to a commission or similar fee in connection with this
transaction except KPMG (“Seller’s Advisor”) which has acted as broker to
Seller and shall be paid a fee by Seller. 
In no event shall Purchaser have any obligation to Seller’s Advisor,
regardless of whether the transaction contemplated hereby is closed.  Each party covenants and agrees to defend,
indemnify and save harmless the other from and against any claim for brokerage
or other commission or similar fee or compensation for any service rendered at
its instance in connection with this transaction.  The foregoing indemnification shall survive any termination of
this Agreement.

                Section
12.             RIGHT OF ENTRY.

                                12.1         Tests,
Borings and Examinations. 
Following the Effective Date and prior to the Closing, the Purchaser and
its representa­tives (subject to the conditions contained in any Option) may
enter upon the Land for purposes of conducting soil and environmental tests,
engineering studies, land planning and other testing and exploration work
deemed necessary or appropriate by the Purchaser to formulate plans for the
intended use.  The Purchaser shall
restore the Land for any invasive tests conducted by the Purchaser.

                                12.2         Indemnification. 
The Purchaser shall indemnify and hold the Seller’s Indemnified Parties
harmless from and against any and all claims, demands, actions, causes of
action, losses and expenses (including, without limitation, reasonable
attorneys’ fees, both at trial and appellate levels, and court costs) which are
asserted against the Seller’s Indemnified Parties and which shall or may arise
by reason of the Purchaser’s exercise of its rights under Section 12.1
hereof.  The indemnification contained
in this Section 12.2 shall survive the Closing and any termination, expiration
or lapse of this Agreement.

                Section
13.             DEFAULT.

                                13.1         The
Purchaser’s Default.  If
after notice and the expiration of the applicable cure period, the Purchaser
shall default in the performance of its obligations hereunder prior to or on the
Closing Date, the Seller shall have the right to treat this Agreement as null
and void and the Purchaser shall pay to the Seller $150,000.00 as full
liquidated damages suffered by the Seller by virtue of the Purchaser’s default.  The Purchaser and the Seller acknowledge and
agree that actual damages to be suffered by the Seller in the event of a
default by the Purchaser are in their nature difficult or impossible to
determine with exactness and because the Purchaser would not have entered into
this Agreement unless the Purchaser were exculpated from personal liability as
provided herein.  Accordingly, the
Seller and the Purchaser acknowledge and agree that liquidated damages in the
amount of the $150,000.00 is a reasonable estimate of the Seller’s loss in the
event of the Purchaser’s default under this Agreement on or prior to the
Closing Date, is not a penalty and is intended to be full liquidated damages in
lieu of any other remedy as permitted by law or equity.  The Seller hereby waives the right to pursue
any other damages against any of the Beazer Indemnified Parties and the remedy
of specific performance against the Purchaser or Beazer.

                                13.2         The
Seller’s Default. 
If the Seller shall default in the performance of its obligations
hereunder, or breaches any representation or warranty, then the Purchaser shall
have the right to treat this Agreement as null and void, or to treat this
Agreement as being in full force and effect and to seek the remedy of specific
performance against the Seller and, in any event to pursue all other remedies
available to the Purchaser.

                                13.3         Required Notice and Cure Period. 
Neither party shall declare a default or breach of the obligations of
the other hereunder or exercise any right or remedy with respect to such
alleged breach or default until that party provides the other notice of the
alleged event of default and a detailed statement of the actions required to
cure such event of default.  Thereafter,
the alleged defaulting party shall have a period of fifteen days from the date
of receipt of such notice in which to cure the alleged event of default in the
manner designated in such notice.

                The commencement of and
continuation of the cure period shall be conditioned upon the alleged
defaulting party consistently and in good faith attempting to cure the alleged
breach or event of default during the cure period and the communication by the
alleged defaulting party of its intent to undertake curative action within
seven days of the date of receipt of the notice of the alleged event of
default.

                                13.4         Effect of Termination; Liquidated
Damages.  Upon
termination of this Agreement in the manner set forth in either Section 13.1 or
13.2, neither party shall have any further obligations or liabilities to the
other or to anyone else hereunder except for the indemnity provisions and
confidentiality provisions hereof and as otherwise specifically provided
herein.

                                13.5         Effect of Termination.  If any party terminates this Agreement, all
rights and obligations of the parties hereunder shall terminate without any
liability of any party to any other party 
No termination of this Agreement shall waive or otherwise terminate any
indemnification provisions hereof.

                Section 14.             INDEMNIFICATIONS.

                                14.1         Indemnification Provisions for Benefit of
the Purchaser.

                                                (a)           In the event the Seller Parties
breach, or in the event any third party alleges facts that, if true, would mean
the Seller Parties have breached, any of its representations, warranties or
covenants contained in this Agreement, provided that the Purchaser makes a
written claim for indemnification against the Seller Parties, then SHOC and the
Principals each jointly and severally agree to indemnify the Purchaser from and
against the entirety of any Adverse Consequences the Purchaser may suffer
through and after the date of the claim for indemnification resulting from,
arising out of or caused by the breach or the alleged breach.

                                                (b)           SHOC and the Principals each jointly
and severally agree to indemnify the Purchaser from and against the entirety of
any Adverse Consequences the Purchaser may suffer resulting from, arising out
of, relating to, in the nature of or caused by:

                                                                (i)            any liability of the Seller which is
not an Assumed Liability or in any way arising out of an act or omission of the
Seller Parties prior to Closing (other than an Assumed Liability);

                                                                (ii)           any liability of the Seller Parties
that is imposed on the Purchaser by operation of law, including under any bulk
transfer law of any jurisdiction or under any common law doctrine of de facto
merger or successor liability, which is not an Assumed Liability;

                                                                (iii)          any liability of the Seller Parties
for the unpaid taxes which are not an Assumed Liability of any person as a
transferee or successor, by contract, or otherwise; and

                                                                (iv)          any other indemnity by a Seller Party
under this Agreement.

                The indemnification provisions
by SHOC and the Principals are joint and several.  Accordingly, the Purchaser shall not be obligated to:  (i) join all of SHOC and the Principals in
any action under any indemnity hereunder; (ii) satisfy any actions or judgments
against any Person or all of them; or (iii) pursue any available remedies
against any particular Person or all of them, prior to pursuing remedies
against and satisfying judgments or other collection rights against any other
Person.

                                14.2         Indemnification Provisions for Benefit of
Seller Parties. 
Purchaser and Beazer jointly and severally agree to indemnify the Seller
Parties for the following:

                                                (a)           In the event the Purchaser breaches,
or in the event any third party alleges facts that, if true, would mean the
Purchaser has breached, any of its representations, and warranties contained in
this Agreement, provided that the Seller Parties make a written claim for
indemnification against the Purchaser as provided in this Section 14, then the
Seller Parties shall be indemnified from and against the entirety of any
Adverse Consequences the Seller Parties may suffer through and after the date
of the claim for indemnification including any Adverse Consequences the Seller
Parties may suffer after the end of any applicable survival period resulting
from, arising out of, relating to, in the nature of or caused by the breach or
the alleged breach;

                                                (b)           from and against, the entirety of any
Adverse Consequences the Seller Parties or the Seller may suffer resulting
from, arising out of, relating to, in the nature of or caused by any Assumed
Liability or in any way arising out of an act or omission of the Purchaser
following Closing;

                                                (c)           Adverse Consequences under other indemnities given by
Purchaser under this Agreement.

                The indemnification provisions
by the Purchaser and Beazer are joint and several.  Beazer has executed and delivered this indemnity for the purpose
of evidencing its obligations to be liable for any indemnification by the
Purchaser hereunder.  Accordingly, the
Seller shall not be obligated to:  (i)
join the Purchaser in any action under any indemnity hereunder; (ii) satisfy
any actions or judgments against Purchaser; or (iii) pursue any available
remedies against the Purchaser prior to pursuing remedies against and
satisfying judgments or other rights against Beazer.

                                14.3         Matters
Involving Third Parties. 
If any third party shall notify any party (the “Indemnified Party”) with
respect to any matter (“Third Party Claim”) which may give rise to a claim for
indemnification against any other party (the “Indemnifying Party”) under this
Section 14, then the Indemnified Party shall promptly notify each Indemnifying
Party thereof in writing; provided, however, that no delay on the part of the
Indemnified Party in notifying any Indemnifying Party shall relieve the
Indemnifying Party from any obligation hereunder unless and then solely to the
extent the Indemnifying Party thereby is prejudiced.

                                                (a)           any Indemnifying Party will have the
right to defend the Indemnified Party against the Third Party Claim with
counsel of its choice reasonably satisfactory to the Indemnified Party so long
as:

                                                                (i)            the Indemnifying Party notifies the
Indemnified Party in writing within 15 days after the Indemnified Party has
given notice of the Third Party Claim that the Indemnifying Party will
indemnify the Indemnified Party, without qualification or reservation, from and
against the entirety of any Adverse Consequences the Indemnified Party may
suffer resulting from, arising out of, relating to, in the nature of or caused
by the Third Party Claim;

                                                                (ii)           the Indemnifying Party provides the
Indemnified Party with evidence reasonably acceptable to the Indemnified Party
that the Indemnifying Party will have the financial resources to defend against
the Third Party Claim and fulfill its indemnification obligations hereunder;

                                                                (iii)          the Third Party Claim involves only
money damages and does not seek an injunction or other equitable relief;

                                                                (iv)          settlement of, or an adverse judgment
with respect to, the Third Party Claim is not, in the good faith judgment of
the Indemnified Party, likely to establish a precedent, custom or practice
materially adverse to the continuing business interests of the Indemnified
Party;

                                                                (v)           the Indemnifying Party conducts the
defense of the Third Party Claim actively and diligently; and

                                                                (vi)          the counsel selected at the time of
selection and continuously has, in the reasonable judgment of the Indemnified
Party, no conflict of interest with respect to each action and its appearance
therein.

                In addition to the foregoing, in
the event that the Indemnified Party is the Purchaser, as a condition to
undertaking the defense of the indemnified claim, the Seller Indemnified
Parties must provide to the Purchaser the unconditional agreement by SHOC and
the Principals agreeing to be primarily liable and responsible to the Purchaser
without defense or claim as to the indemnified claim and, in the event the
Indemnified Party is the Seller, as a condition to undertaking the defense of
the indemnified claim the Purchaser must provide to the Seller Indemnified
Parties the unconditional agreement by Beazer to be primarily liable and
responsible to the Seller Indemnified Parties without defense or claim as to
the indemnified claim.

                                                (b)           So long as the Indemnifying Party is
conducting the defense of the Third Party Claim in accordance with Section 14.3
hereof:

                                                                (i)            the Indemnified Party may retain
separate co-counsel at its sole cost and expense and participate in the defense
of the Third Party Claim;

                                                                (ii)           the Indemnified Party will not
consent to the entry of any judgment or enter into any settlement with respect
to the Third Party Claim without the prior written consent of the Indemnifying
Party, not to be withheld unreasonably; and

                                                                (iii)          the Indemnifying Party will not
consent to the entry of any judgment or enter into any settlement with respect
to the Third Party Claim without the prior written consent of the Indemnified
Party, not to be withheld unreasonably.

                                                (c)           In the event any of the conditions in
Section 14.3 hereof are not satisfied at any time, however:

                                                                (i)            the Indemnified Party may defend
against, and consent to the entry of any judgment or enter into any settlement
with respect to, the Third Party Claim in any manner it reasonably may deem
appropriate (and the Indemnified party need not consult with, or obtain any
consent from, any Indemnifying Party in connection therewith);

                                                                (ii)           the Indemnifying Parties will
reimburse the Indemnified Party promptly and periodically for the costs of
defending against the Third Party Claim including reasonable attorneys’ fees
and expenses;

                                                                (iii)          the Indemnifying Parties will remain
responsible for any Adverse Consequences the Indemnified Party may suffer
resulting from, arising out of, relating to, in the nature of, or caused by the
Third Party Claim to the fullest extent provided in this Section 14; and

                                                                (iv)          the remaining restrictions set forth
at Section 14.3(c)(ii) shall no longer be applicable.

                                14.4         Relationship
between Indemnities and Insurance Coverage. 
The parties intend that: the primary coverage for any indemnified matter
contained in this Agreement shall be any insurance that covers the indemnified
matter.  Accordingly, in the event that
an indemnified matter is covered by insurance, then the parties agree to first
satisfy the indemnified obligation through available insurance proceeds and the
indemnity shall cover amounts in excess of the available insurance proceeds for
the indemnified matter and any deductible amounts associated therewith.  Furthermore, to the extent that insurance
proceeds are paid concerning an indemnified matter, the Indemnified Parties
waive their right of subrogation against the other to the extent of such
amount.  The parties further agree,
however, that in the event that the insurance carrier for such insurance does
not admit responsibility for payment 
and pay the proceeds of the coverage to the Indemnified Parties within a
commercially reasonable time period or does not provide an adequate defense of
the liability under the applicable policy, or resists either payment or defense
in any manner, then upon assignment by the Indemnified Parties to the
Indemnifying Parties of all claims by the Indemnified Parties under such
insurance, the Indemnifying Parties will be liable to the Indemnified Parties
without regard to this section, provided that (a) the Indemnified Parties will reasonably
cooperate with the Indemnifying Parties with respect to the preparation,
prosecution and appeal of any claims against the issuer of such insurance and
(b) any recovery by the Indemnified Parties under such insurance as to which
amounts have been paid to the Indemnified Parties by the Indemnifying Parties
will be promptly paid over to the Indemnifying Parties.

                                14.5         Subrogation to Rights of Indemnified
Parties. 
To the extent of any indemnity payment made by an Indemnifying Party to
an Indemnified Party, the Indemnifying Party will be subrogated to and succeed
to the rights of the Indemnified Party against any third party liable or
obligated to the Indemnified Party with respect to the matters as to which such
indemnity payment is made.  Such right
of subrogation will be subordinate to any right of subrogation of any insurance
company paying a claim with respect to the same matters, and such right of
subrogation will impose no obligation upon the Indemnified Party other than to
reasonably cooperate, at the expense of the Indemnifying Party, as reasonably
requested by the Indemnifying Party, with respect to assertion of such
subrogation rights.

                Section 15.             CONDITIONS PRECEDENT IN FAVOR OF
PURCHASER.

                                15.1         Conditions to Obligation of the Purchaser
and Beazer. 
The obligations of the Purchaser and Beazer hereunder are subject in all
respects to the complete satisfaction of the following conditions precedent in
favor of the Purchaser and Beazer:

                                                (a)           The approval of all required parties
for the assignment of the Options, Leases, Joint Ventures, Contracts and
Companies’ insurance policies, or, as to the Companies’ insurance policies, an
arrangement with respect to the enforcement of such policies and payments of
the proceeds thereof that is acceptable to the Purchaser;

                                                (b)           The receipt by the Purchaser of the
documents and instruments set forth in Section 9;

                                                (c)           The truth and accuracy of all
representations and warranties of the Seller Parties in all material respects
as of the Closing Date, subject to the last paragraph of Section 6.5;

                                                (d)           The receipt by the Purchaser of the
owners’ policy of title insurance without exception to the Title Objections or
the waiver of the remaining Title Objections by the Purchaser;

                                                (e)           No action, suit, or proceeding shall
be pending or threatened before any court or quasi-judicial or administrative
agency of any federal, state, local or foreign jurisdiction wherein an
unfavorable injunction, judgment, order, decree, ruling or charge could:

                                                                (i)            Prevent consummation of any of the
transactions contemplated by this Agreement; or

                                                                (ii)           Cause any of the transactions
contemplated by this Agreement to be rescinded following consummation;

                                                (f)            All certificates, opinions,
instruments, and other documents required to effect the transactions
contemplated hereby will be reasonably satisfactory in form and substance to
the Purchaser; and

                                                (g)           The Purchaser receives the agreements
required under Section 3.4(c) and such other agreements as it may require to
assure it that the Companies’ insurance policies are in full force and effect
and will be available to the Purchaser from and after Closing without the
payment of additional amounts by the Purchaser.

                                15.2         Specific
Closing Conditions in favor of the Purchaser with respect to April. 
April covenants and agrees to divest itself of its 20% interest in SHOC
and its 20% in High View at Closing without the incurrence of any liabilities
or obligations, contingent or otherwise which will apply to any period after
Closing.  April shall provide to the
Purchaser evidence of this divestiture without incurrence of liabilities or
obligations on or before Closing.  The
obligations of the Purchaser under this Agreement are conditioned upon the
compliance with the foregoing requirement by April at or prior to Closing in a
manner satisfactory to the Purchaser.

                                15.3         Conditions to Obligation of the Seller
and the Principals. 
The obligations of the Seller and the Principals to consummate the
transactions to be performed by it in connection with the Closing is subject to
satisfaction of the following conditions:

                                                (a)           the representations and warranties
set forth in Section 6.3 above shall be true and correct in all material
respects at and as of the Closing Date;

                                                (b)           the Purchaser shall have performed
and complied with all of its covenants hereunder in all material respects
through the Closing;

                                                (c)           no action, suit, or proceeding shall
be pending or threatened before any court or quasi-judicial or administrative
agency of any federal, state, local or foreign jurisdiction wherein an
unfavorable injunction, judgment, order, decree, ruling or charge could:

                                                                (i)            prevent consummation of any of the
transactions contemplated by this Agreement; or

                                                                (ii)           cause any of the transactions
contemplated by this Agreement to be rescinded following consummation;

                                                (d)           all certificates, opinions,
instruments, and other documents required to effect the transactions
contemplated hereby will be reasonably satisfactory in form and substance to SHOC
and the Principals;

                                                (e)           receipt of an assumption of the
Assumed Liabilities from the Purchaser, to reflect the adjustments required in
order to cause the payment of the Holdback to equal the Final Purchase Price.

                In the event that any of the
consents are not obtained with respect to 15.3(e) above, then the Purchaser
shall have the right to exclude the assets affected thereby from the Included
Assets.

                                15.4         Waiver of Conditions and other Remedies. 
The party that is the beneficiary of a condition may unilaterally waive
that condition.  To the extent that a
condition affects a particular Included Asset or Assets, then the Purchaser may
elect either to:  (i) exclude the affected
Asset and receive a corresponding reduction in the Purchase Price;  (ii) terminate this Agreement; or (iii)
undertake such remedies as may be available to the Purchaser including the
remedy of self-help and receive a reimbursement from the Seller toward the cash
portion of the Purchase Price for amounts expended or actions taken to satisfy
the condition.

                Section
16.             NOTICE.  All notices to be given to either party
hereunder shall be deemed given if made in writing and deposited in the United
States registered or certified mail, postage prepaid, or by recognized
overnight delivery service, addressed to the parties at the following
addresses:

	If
  to the Seller:	 	Sanford
  Homes of Colorado, LLLP
	 	 	7600
  East Orchard Road
	 	 	Suite
  270N
	 	 	Englewood,
  Colorado  80111
	 	 	Attn: 
  Charles H. Sanford
	 	 	 
	and
  to:	 	Mr.
  Charles H. Sanford
	 	 	Ms.
  Linda Elliott
	 	 	2707 E Williamette Ln
	 	 	Greenwood Village, CO 80121-1612

 

	and to:	 	Gary Powell
	 	 	KPMG
	 	 	4440
  Arapahoe Avenue, Suite 280
	 	 	Boulder,
  Colorado  80303
	 	 	 
	and a copy to:	 	Brian D. Fitzgerald
	 	 	Clanahan,
  Tanner, Downing & Knowlton, P.C.
	 	 	730
  17th Street, Suite 500
	 	 	Denver,
  Colorado 80202
	 	 	 
	If
  to the Purchaser:	 	Beazer
  Homes Holdings Corp.
	 	 	5775
  Peachtree Dunwoody Road
	 	 	Suite
  B-200
	 	 	Atlanta,
  Georgia 30342
	 	 	Attn:
  Peter H. Simons, Senior Vice President
	 	 	 
	and
  to:	 	Beazer
  Homes USA, Inc.
	 	 	5775
  Peachtree Dunwoody Road
	 	 	Suite
  B-200
	 	 	Atlanta,
  Georgia 30342
	 	 	Attn: C. Lowell Ball, General Counsel
	 	 	 
	and
  a copy to:	 	Paul,
  Hastings, Janofsky & Walker LLP
	 	 	600
  Peachtree Street, N.E., Suite 2400
	 	 	Atlanta,
  Georgia 30308
	 	 	Attn: Charles T. Sharbaugh, Esq.

                All notices shall be deemed
received on the sooner to occur of:  (i)
the date of actual receipt; (ii) three days after deposit in the United States
postal service; or (iii) the next Business Day after depositing in the
overnight delivery service.  Refusal of
delivery shall be deemed receipt. 
Delivery to any of the designated recipients shall be deemed to be
received by all of the recipients of that addressee.

                Section
17.             ASSIGNMENT. 
The Purchaser shall have the right to assign its rights under this
Agreement, without the Seller’s consent, to any subsidiary or related entity of
the Purchaser so long as neither the Purchaser nor Beazer shall be released
from its obligations hereunder.

                Section
18.             MISCELLANEOUS.

                                18.1         No
Waiver.  No waiver by the Seller or the Purchaser of
any breach by the other party of any of its obligations, agreements or
covenants hereunder shall be deemed to be a waiver of any subsequent breach of
the same or any other covenants, agreements or obligations, nor shall any
forbearance by either party to seek a remedy for any breach by the other party
be deemed a waiver by such first party of its rights or remedies with respect
to such breach or any similar breach in the future.

                                18.2         Captions; Pronouns; and Interpretation. 
The captions of the Sections and paragraphs of this Agreement and the
particular pronouns used herein, whether masculine, feminine, or neuter,
singular or plural, are for convenience only and in no way define, limit or
describe the scope of this Agreement or the intent of any provision
hereof.  References in this Agreement to
“including” shall mean “including without limitation”.

                                18.3         Severability. 
In the event that any provision of this Agreement violates any
applicable law, such provision shall be invalid to the extent of such violation
without affecting the validity or enforceability of any other provision hereof;
provided, however, that if such invalidity materially adversely
affects the rights of the Seller or the Purchaser, then the party so affected
may, by written notice given to the other party terminate this Agreement.

                                18.4         Survival. 
The covenants, reservations and agreements of the Seller, the
Principals, Beazer and the Purchaser contained herein shall survive the Closing
and shall not merge into the various documents executed and delivered at
Closing.  The representations and
warranties made by the Seller to the Purchaser hereunder shall be true and
correct as of the Closing Date subject to the provisions of the last paragraph
of Section 6.5.  The covenants,
reservations and agreement and representations and warranties shall survive for
the period of two years from the date of Closing.

                                18.5         Entire Agreement. 
This Agreement constitutes the entire agreement among the parties hereto
and no change in this Agreement may be made except by an agreement in writing
signed by the party against whom enforcement of any waiver, change,
modification or discharge is sought.  To
the extent the provisions thereof are not inconsistent herewith, this Agreement
supersedes and replaces the Letter of Intent.

                                18.6         Extension of Time. 
Whenever under this Agreement performance is to be made on a Saturday,
Sunday or a public holiday under the laws of either the State of Colorado or
the State of Georgia, such performance may be made on the next succeeding day
which is not a Saturday, Sunday or public holiday under the laws of either the
State of Colorado or the State of Georgia.

                                18.7         Time of Essence. 
Time is of the essence of this Agreement.

                                18.8         Governing Law. 
This Agreement shall be construed and interpreted in accordance with the
laws of the State of New York.

                                18.9         Cumulative Rights. 
Except as otherwise expressly set forth in this Agreement, all rights,
powers and privileges conferred hereunder upon the parties shall be cumulative
but not restricted to those given by law.

                                18.10       Binding
Effect.  The provisions of this Agreement shall be
binding upon and shall inure to the benefit of the parties hereto, their
respective successors and, to the extent permitted hereunder, assigns.

                                18.11       Counterparts. 
This Agreement may be executed in any number of counterparts which
together shall constitute one and the same instrument, and the signature of any
party to any counterpart of this Agreement may be appended to any other
counterpart of this Agreement.

                                18.12       Construction. 
The Seller and the Purchaser acknowledge each to the other that both
they and their counsel have reviewed and revised this Agreement and that the
normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation
of this Agreement or any amendments or exhibits hereto.

                                18.13       No Third Party Beneficiaries. 
This Agreement shall not confer any rights or remedies upon any person
other than the parties and their respective successors and permitted assigns.

                                18.14       Press Releases and Public Announcements. 
No party shall issue any press release or make any public announcement
relating to the subject matter of this Agreement prior to the Closing without
the prior written approval of the other parties; provided, however, that any
party may make any public disclosure it believes in good faith is required by
applicable law or any listing or trading agreement concerning its
publicly-traded securities in which case the disclosing party will use its
reasonable best efforts to advise the other parties prior to making the
disclosure.

                Section 19.             RELATIONSHIP AMONG THE SELLER,
APRIL AND THE PRINCIPALS FROM AND AFTER CLOSING.  The Seller and the Principals agree that any
indemnity contained herein by any of them in favor of the Beazer Indemnified
Parties extends to April from and after the Closing Date.  Further, the Seller and the Principals agree
that it is their intent to forever terminate any right of contribution or right
to seek the performance of any obligation or the payment of any liability by
April from and after the Closing Date. 
Accordingly, the Principals and the Seller shall execute and deliver to
April on the Closing Date and shall cause High View to execute and deliver to
April on the Closing Date a general release of all obligations and liability
and a covenant not to sue whereby each of them covenants and agrees not to sue
April or its officers, employees or directors or shareholders that exist after
the Closing Date for any reason whatsoever.

                The Seller and the Principals
agree that any claims against April for breach of any warranty or
representation hereunder shall be the obligations of the Seller and the
Principals hereunder and that the execution and delivery of the general release
and covenant not to sue will not limit or release the obligations of the Seller
and the Principals with respect to the representations and warranties with
respect to any aspect of April hereunder.

                Section
20.             GUARANTY BY THE
PRINCIPALS.  The Principals hereby guarantee the
performance of all obligations of the Seller and, as to April prior to Closing,
hereunder including all representations and warranties and all indemnities by
the Seller.  The Principals hereby agree
that they have received good and adequate consideration for the execution and
delivery of this Guaranty as well as the performance of their obligations
hereunder.  The Principals may administer
this Agreement so as to make modifications and amendments in their discretion
and such modifications and amendments shall not impair or diminish the binding
and enforceability of this guaranty. 
SHOC and the Principals agree that the Purchaser may enforce any term,
condition, representation, warranty or indemnity of SHOC or the Principals
hereunder without first filing suit or otherwise attempting to enforce or
exhaust any remedies available to the Purchaser against the Seller or April
hereunder.

                Section
21.             GUARANTY BY BEAZER. 
Beazer hereby guarantees the performance of all obligations of the
Purchaser hereunder including all representations and warranties and all
indemnities by the Purchaser hereunder. 
Beazer hereby agrees that it has received good and adequate
consideration for the execution and delivery of this Guaranty as well as the
performance of its obligations hereunder in that it is the principal and
majority shareholder of the Purchaser. 
Beazer agrees that the Purchaser may administer this Agreement so as to
make modifications and amendments in its discretion and such modifications and
amendments shall not impair or diminish the binding and enforceability of this
guaranty.  Beazer agrees that the Seller
may enforce any term, condition, representation, warranty or indemnity of the
Seller hereunder without first filing suit or otherwise attempting to enforce
or exhaust any remedies available to the Seller hereunder.

                Section
22.             SPECIAL DISTRICT
DISCLOSURE STATEMENT.  As
required by §38-35.7-101, C.R.S., the following disclosure statement is
required to be made in every contract for the purchase and sale of residential
real property:

                SPECIAL TAXING DISTRICTS MAY BE
SUBJECT TO GENERAL OBLIGATIONS AND INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED
FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN THE DISTRICT.  PROPERTY OWNERS IN SUCH DISTRICTS MAY BE
PLACED AT RISK FOR INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT
THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY
OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN
MILL LEVIES.  PURCHASERS SHOULD
INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL
OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH
DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH
MILL LEVIES.

                Section
23.             SCHEDULES TO THE CONTRACT. 
The Purchaser and Seller agree that the Seller shall assemble and
deliver to the Purchaser all Exhibits and Schedules required under this
Agreement on or before ten (10) Business Days from the date of the execution
hereof.  The Purchaser shall have the
right to terminate this Agreement in the event that the Seller does not perform
this obligation on or before the designated date or if the Purchaser and the
Seller are unable to agree on the final form of the Exhibits and Schedules
prior to the Closing Date, then either party may terminate this Agreement.

                Section
24.             RELATIONSHIP BETWEEN THE
SHAREHOLDERS AND THE PRINCIPALS.  The
Principals hereby warrant to the Purchaser that the Principals are the sole
beneficiaries of the Individual Retirement Accounts that constitute the
Shareholders and that the proceeds of the foregoing Individual Retirement
Accounts are not subject to any Encumbrance and no rights have been assigned to
any other party other than the custodian thereof.  The Principals agree that they will deliver to the Purchaser
within ten (10) Business Days after execution of this Agreement the written
agreement of the Shareholders to deliver to the Purchaser at Closing the
certificates for the Shares, accompanied by stock powers transferring the
Shares to the Purchaser and will cause the Shareholders to perform the
obligations to convey the Shares of April as provided herein.

                IN WITNESS WHEREOF, the parties have
executed this Agreement under seal on the day first written above.

	 	SELLER:	 
	 	 	 	 	 
	 	SANFORD
  HOMES OF COLORADO, LLLP, a Colorado limited liability limited partnership
	 	 	 
	 	By:	Communities
  by Sanford, Inc., a Colorado corporation, its general partner	 
	 	 	 	 	 
	 	 	By:	 	 
	 	 	 	

	 
	 	 	 	Charles
  H. Sanford III, CEO	 
	 	 	 	 	 
	 	PRINCIPALS:	 
	 	 	 	 	 
	 	 	 
	 	

	(L.S.)
	 	CHARLES
  H. SANFORD III	 
	 	 	 	 	 
	 	 	 
	 	

	(L.S.)
	 	LINDA
  A. ELLIOTT	 
	 	 	 	 	 
	 	APRIL CORPORATION, a Colorado corporation	 
	 	 	 	 	 
	 	By:	 	 
	 	 	

	 
	 	Its:	 	 
	 	 	

	 
	 	 	 	 	 
	 	 	 
	 	

	(L.S.)
	 	CHARLES
  H. SANFORD III, as Beneficiary of the Individual Retirement Account f/b/o
  Charles H. Sanford III maintained with PNC Bank as Custodian
	 	 	 	 	 
	 	 	 
	 	

	(L.S.)
	 	LINDA
  A. ELLIOTT, as Beneficiary of the Individual Retirement Account f/b/o Linda
  A. Elliott maintained with PNC Bank as Custodian

 

	 	PURCHASER:	 
	 	 	 
	 	BEAZER
  HOMES HOLDINGS CORP., a Delaware corporation	 
	 	 	 
	 	By:	 	 
	 	 	

	 
	 	 	Ian
  J. McCarthy	 
	 	Its:	President
  / CEO	 
	 	 	 	 
	 	BEAZER
  HOMES USA, INC., a Delaware corporation	 
	 	 	 
	 	By:	 	 
	 	 	

	 
	 	 	Ian
  J. McCarthy	 
	 	Its:	President
  / CEO	 

Joinder and Consent

                IN CONSIDERATION OF TEN AND
NO/100 ($10.00) DOLLARS, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the undersigned hereby execute
and deliver this Joinder and Consent to this Agreement for the purposes of
acknowledging and consenting to the provisions of this Agreement pertaining to
Sanford Homes of Colorado, LLLP, a Colorado limited liability limited
partnership, and High View Homes, LLC, a Colorado limited liability company,
all as of the day and year first above written.

	 	 	 
	 	

	(L.S.)
	 	PERRY
  A. CADMAN	 
	 	 	 
	 	 	 
	 	

	(L.S.)
	 	DANIEL
  S. CONNERLY	 
	 	 	 
	 	 	 
	 	

	(L.S.)
	 	CLARENCE
  M. HUGHES	 
	 	 	 
	 	 	 
	 	

	(L.S)
	 	LYLE
  W. MORET	 
	 	 	 
	 	 	 
	 	

	(L.S.)
	 	GEORGE
  M. UPTON	 
	 	 	 
	 	 	 
	 	

	(L.S.)
	 	JAMES
  C. SANFORD	 

Joinder
and Consent

                IN CONSIDERATION OF TEN AND
NO/100 ($10.00) DOLLARS, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the undersigned hereby
executes and delivers this Joinder and Consent to this Agreement for the
purposes of acknowledging and consenting to the provisions of this Agreement
relating to or affecting High View Homes, including, without limitation,
Section 3.3(c), Section 3.4(b), Section 4, Section 7.8, Section 9.2.2(q),
Section 14.4, Section 15.2, and Section 19, all as of the day and year first
above written.

	 	 	HIGH
  VIEW HOMES LLC
	 	 	 
	 	By:	 
	 	 	

	 	ItsPrepared by MerrillDirect

AMENDMENT NO. 5

THE NEWHALL LAND AND FARMING COMPANY

RETIREMENT PLAN

(Restatement Effective January 1, 1989)

	                           The Newhall Land
  and Farming Company Retirement Plan (the “Plan”), as restated in its entirety
  effective January 1, 1989, and subsequently amended, is further amended
  effective as of the dates set forth below, as follows:
	 
	 	1.	Subsection 1.18(a) defining “Eligible Employee”
  is amended, effective as of January 1, 2001, to read:	 
	 	 	 	 
	 	 	             (a)         any individual who performs services
  for a Participating Company solely as a Leased Employee, independent
  contractor, consultant or employee of a third-party employment agency or is
  classified as such by the Participating Company for whom such services are
  performed (whether or not such classification is upheld upon governmental or
  judicial review); and	 
	 	 	 	 
	 	2.	Section 8.02 is amended in its entirety,
  effective as of January 1, 2000, to read:	 
	 	 	 	 
	 	 	An annual benefit is a retirement benefit that is
  payable annually in the form of a straight life annuity under all qualified
  defined benefit plans maintained by an Affiliated Company, excluding any
  benefits attributable to the Participant’s contributions or rollover
  contributions, if any, to the plans or to any assets transferred from a
  qualified plan that was not maintained by an Affiliated Company.  If the benefit is payable in a form other
  than a straight life annuity (and other than a form subject to Code Section
  417(e)(3)), the amount must be adjusted to an actuarially equivalent straight
  life annuity determined by using the greater of the interest rate specified
  in the Plan’s definition of Actuarial Equivalent or five percent.  If the benefit is payable in a form
  subject to Code Section 417(e)(3), the amount must be adjusted to an
  actuarially equivalent straight life annuity determined by using the greater
  of the interest rate specified in the Plan’s definition of Actuarial
  Equivalent or the applicable interest rate defined in Code Section
  417(e)(3).  No actuarial adjustment is
  required to account for the value of a qualified joint and survivor annuity
  or any other joint and survivor annuity, provided the Participant’s spouse is
  the sole Beneficiary, the value of benefits which are not directly related to
  retirement benefits (such as qualified disability benefits, preretirement
  death benefits, or postretirement medical benefits) or for the value of
  postretirement cost-of-living increases made in accordance with Treasury
  Regulations.	 
	 	 	 	 
	3.	The following provisions are repealed, effective
  as of January 1, 2000, and their terms shall have no force or
  effect, as applied to the determination of the accrued benefit of a
  Participant who performs an Hour of Service on or after
  January 1, 2000:  Section
  8.06 in its entirety and Section 8.08(a), including the introduction.
	 	 
	4.	Section 8.09 is amended, effective as of
  January 1, 2000, to read:
	 	 
	 	             Freeze
  Date.  In no event shall the
  benefit payable to a Participant determined as if the Participant had
  separated from service as of December 31, 1999 be less than the
  Participant’s Accrued Benefit determined as if the Participant had separated
  from service on or after January 1, 2000.
	 	 
	5.	Subsection 14.02(a) is amended, effective August
  5, 1997, to read:
	 	 
	 	Subject to subsection (b) and with respect to
  certain judgments, orders or decrees issued or a settlement entered into, on
  or after August 5, 1997 in accordance with Code Sections
  401(a)(13)(C) and (D), benefits under the Plan may not be assigned or
  hypothecated, and except to the extent required by law, no such benefits
  shall be subject to legal process or attachment for the payment of any claim
  against any person entitled to receive the same.
	 	 
	6.	Subsection 14.11(a) is amended, effective
  January 1, 2000, to read:
							

 

	 	An
  Eligible Rollover Distribution is any distribution of all or any portion of
  the balance to the credit of the Distributee, except that an Eligible
  Rollover Distribution does not include: 
  any distribution that is one of a series of substantially equal
  periodic payments (not less frequently than annually) made for the life (or
  life expectancy) of the Distributee or the joint lives (or joint life
  expectancies) of the Distributee and the Distributee’s designated
  Beneficiary, or for a specified period of 10 years or more; any distribution
  to the extent that distribution is required under Section 401(a)(9) of the
  Code; the portion of any distribution that is not includable in gross income;
  and any hardship distribution to the extent described in Code Section
  401(k)(2)(B)(i)(IV).
	 	 
	7.	A new Section 14.14 is added, effective as of
  December 12, 1994, to read:
	 	 
	 	USERRA Compliance. 
  Notwithstanding any provision of this Plan to the contrary,
  contributions, benefits, and service credit with respect to qualified
  military service shall be provided in accordance with Code Section 414(u).

 

	                           IN WITNESS WHEREOF, Newhall Management Corporation, managing general
  partner of Newhall Management Limited Partnership, managing general partner
  of The Newhall Land and Farming Company (a California Limited Partnership)
  has caused this Amendment No. 5 to be executed on behalf of such partnership
  by its duly authorized officer as of this 18th day of July 2001.

 

	 	THE
  NEWHALL LAND AND FARMING COMPANY (A CALIFORNIA LIMITED PARTNERSHIP)
	 
	 	 	 
	 	By:	NEWHALL MANAGEMENT LIMITED PARTNERSHIP,

  MANAGING GENERAL PARTNER
	 	 	 
	 	By:	NEWHALL MANAGEMENT CORPORATION,
	 	 	MANAGING GENERAL PARTNER
	  	 	 
	 	By:	/s/ Trude A. Tsujimoto

	 	Title:	Secretary

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