Document:

EX-4.26

 Exhibit 4.26 

ELEVENTH SUPPLEMENTAL INDENTURE 

dated as of September 16, 2013 

among 
 K. HOVNANIAN ENTERPRISES,
INC. 
 HOVNANIAN ENTERPRISES, INC. 

The Other Guarantors Party Hereto 

and 
 DEUTSCHE BANK NATIONAL TRUST
COMPANY 
 (as successor to U.S. Bank National Association) 

as Senior Trustee 
  

 
 6.25% Senior
Notes due 2016 

 THIS ELEVENTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”),
entered into as of September 16, 2013 (the “Additional Securities Issue Date”), among K. Hovnanian Enterprises, Inc., a California corporation (the “Issuer”), Hovnanian Enterprises, Inc. (the
“Company”), each of the other guarantors listed on Schedule I hereto (the “Subsidiary Guarantors” and, together with the Company, the “Guarantors”) and Deutsche Bank National Trust Company (as
successor to U.S. Bank National Association), as Senior Trustee (the “Trustee”). 
 RECITALS 

WHEREAS, the Issuer, the Company, the subsidiary guarantors party thereto and the Trustee entered into an indenture, dated as of
August 8, 2005 (as amended or supplemented as of the date hereof, the “Indenture”), providing for the issuance of the Issuer’s 6.25% Senior Notes due 2016 (the “Notes”), initially in the aggregate
principal amount of $300,000,000;  
 WHEREAS, the issuance and sale of Additional Notes in the aggregate principal amount of
$41,581,000 (the “Additional Securities”) and the execution and delivery of this Supplemental Indenture have been authorized by resolutions adopted by the Board of Directors of the Issuer and all things necessary to make this
Supplemental Indenture a valid agreement of the Issuer, in accordance with its terms, have been done, and the Issuer has done all things necessary to make the Additional Securities, when duly issued and executed by the Issuer and authenticated and
delivered by the Trustee, the valid obligations of the Issuer as hereinafter provided; 
 WHEREAS, the guarantees of the Additional
Securities and the execution and delivery of this Supplemental Indenture by the Company and the Subsidiary Guarantors have been duly authorized by the Boards of Directors of the Company and such Subsidiary Guarantors (or the ultimate managing member
or sole member of such Subsidiary Guarantors, as applicable) and all things necessary to make this Supplemental Indenture a valid agreement of each Guarantor, in accordance with its terms, have been done, and each Guarantor has done all things
necessary to make the Guarantees of the Additional Securities when duly issued and executed by each Guarantor and when the Additional Securities have been authenticated and delivered by the Trustee, the valid obligation of such Guarantor as
hereinafter provided; 
 WHEREAS, Section 9.01(e) of the Indenture provides that the Issuer, the Company, the Subsidiary Guarantors and
the Trustee are authorized to execute and deliver this Supplemental Indenture to cure any ambiguity, defect or inconsistency in the Indenture or the Notes without notice to or the consent of any Holder; 

  
 2 

 WHEREAS, Section 9.01(k) of the Indenture provides that the Issuer, the Company, the
Subsidiary Guarantors and the Trustee are authorized to execute and deliver this Supplemental Indenture to provide for the issuance of the Additional Securities without notice to or the consent of any Holder; 

WHEREAS, the Issuer and the Company have complied with all conditions precedent provided for in the Indenture relating to this Supplemental
Indenture; 
 WHEREAS, the Additional Securities and the Notes shall vote together and shall be treated as a single class for all purposes
under the Indenture (as supplemented by this Supplemental Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase); and 

WHEREAS, the Issuer and the Company have requested that the Trustee execute and deliver this Supplemental Indenture. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Issuer, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree
for the equal and ratable benefit of the holders of the Additional Securities as follows: 
 SECTION 1. Capitalized
terms used herein and not otherwise defined herein are used as defined in the Indenture. 
 SECTION 2. Section 2.02
of the Indenture is hereby amended by: 
 (a) deleting the word “and” at the end of Section 2.02(c)(ii); 

(b) adding the following immediately after Section 2.02(c)(iii): 

“, and 
 (iv) Additional
Notes from time to time for original issue in aggregate principal amounts specified by the Issuer” 
 (b) deleting
Section 2.02(c)(iii)(A)(2) in its entirety and replacing it with the following: 
 “(2) whether the Notes are to be Initial Notes,
Initial Additional Notes, Exchange Notes or Additional Notes,” 

  
 3 

 SECTION 3. The following terms relating to the Additional Securities are
hereby established: 
 (a) The aggregate principal amount of the Additional Securities that may be authenticated and delivered under this
Supplemental Indenture shall be $41,581,000. 
 (b) The issue price of the Additional Securities shall be 100.000% of the aggregate
principal amount of the Additional Securities plus accrued interest from July 15, 2013 to the Additional Securities Issue Date, and the issuance date of the Additional Securities shall be the Additional Securities Issue Date. The date from
which interest shall accrue on the Additional Securities shall be July 15, 2013. 
 (c) The Additional Securities shall have the other
terms set forth in the form of global note attached hereto as Exhibit A and shall be issued as one or more Global Notes. 
 (d) The
Additional Securities shall be considered Additional Notes issued pursuant to Section 2.02 of the Indenture (as amended by this Supplemental Indenture). 

SECTION 4. The Additional Securities and the Trustee’s certificate of authentication shall be substantially in the
form of Exhibit A attached hereto. The Additional Securities shall be executed on behalf of each of the Issuer, the Company and the Subsidiary Guarantors and authenticated by the Trustee pursuant to Section 2.02 of the Indenture (as amended by
this Supplemental Indenture). 
 SECTION 5. This Supplemental Indenture shall be governed by and construed in accordance
with the laws of the State of New York. 
 SECTION 6. This Supplemental Indenture may be signed in various counterparts
which together will constitute one and the same instrument. 
 SECTION 7. This Supplemental Indenture is an amendment
supplemental to the Indenture (as amended and supplemented to the date hereof) and the Indenture and this Supplemental Indenture will henceforth be read together. 

SECTION 8. Except as expressly provided herein, all of the terms, provisions and conditions of the Indenture and the Notes
shall remain in full force and effect. 
 SECTION 9. If any provision of this Supplemental Indenture limits, qualifies
or conflicts with another provision of this Supplemental Indenture or the Indenture that is required to be included by the Trust Indenture Act of 1939 as in force at the date as of which this Supplemental Indenture is executed, the provision
required by said Act shall control. 

  
 4 

 SECTION 10. The Trustee shall not be responsible in any manner whatsoever for
or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the Recitals contained herein, all of which are made solely by the Issuer, the Company and each of the Subsidiary Guarantors. 

[Signature page follows] 

  
 5 

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

			
	K. HOVNANIAN ENTERPRISES, INC.
		
	By:	 	/s/ J. Larry Sorsby
		 	 Name: J. Larry Sorsby
 Title:
  Executive Vice President and
             Chief Financial Officer

  

			
	HOVNANIAN ENTERPRISES, INC.
		
	By:	 	/s/ J. Larry Sorsby
		 	 Name: J. Larry Sorsby
 Title:
  Executive Vice President and
             Chief Financial Officer

  

			
	K. HOV IP, INC.
		
	By:	 	/s/ David Valiaveedan
		 	 Name: David Valiaveedan
 Title:
  Chief Executive Officer and
             Treasurer

  

			
	K. HOV IP, II, INC.
		
	By:	 	/s/ David Valiaveedan
		 	 Name: David Valiaveedan
 Title:
  Chief Executive Officer and
             Treasurer

  

			
	 On behalf of each other entity named in

Schedule A hereto

		
	By:	 	/s/ J. Larry Sorsby
		 	 Name: Larry Sorsby
 Title:
  Executive Vice President and
             Chief Financial Officer

 [Signature page to Supplemental Indenture] 

 
			
	DEUTSCHE BANK NATIONAL TRUST       COMPANY, as Trustee
		
	By:	 	/s/ Chris Niesz
		 	 Name: Chris Niesz
 Title:
  Associate

  

			
	By:	 	/s/ Kathryn Fischer
		 	 Name: Kathryn Fischer
 Title:
  Associate

 [Signature page to Supplemental Indenture] 

 SCHEDULE I 

Subsidiary Guarantors 
 ARBOR TRAILS, LLC

 AUDDIE ENTERPRISES, L.L.C. 
 BUILDER SERVICES NJ, L.L.C. 

BUILDER SERVICES PA, L.L.C. 
 DULLES COPPERMINE, L.L.C. 

EASTERN NATIONAL TITLE AGENCY, LLC 
 EASTERN TITLE AGENCY, INC.

 F&W MECHANICAL SERVICES, L.L.C. 
 FOUNDERS TITLE AGENCY
OF MARYLAND, L.L.C. 
 FOUNDERS TITLE AGENCY, INC. 
 GLENRISE
GROVE, L.L.C. 
 GOVERNOR’S ABSTRACT CO., INC. 
 HOMEBUYERS
FINANCIAL SERVICES, L.L.C. 
 HOVNANIAN DEVELOPMENTS OF FLORIDA, INC. 

HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C. 
 HOVNANIAN
LAND INVESTMENT GROUP OF MARYLAND, L.L.C. 
 HOVNANIAN LAND INVESTMENT GROUP, L.L.C. 

K. HOV IP, II, INC. 
 K. HOV IP, INC. 

K. HOVNANIAN ABERDEEN, LLC 
 K. HOVNANIAN ACQUISITIONS, INC. 

K. HOVNANIAN AT 4S, LLC 
 K. HOVNANIAN AT ACQUA VISTA, LLC 

K. HOVNANIAN AT ALISO, LLC 
 K. HOVNANIAN AT ALLENTOWN, L.L.C.

 K. HOVNANIAN AT ANDALUSIA, LLC 
 K. HOVNANIAN AT ARBOR
HEIGHTS, LLC 
 K. HOVNANIAN AT AVENUE ONE, L.L.C. 
 K.
HOVNANIAN AT BAKERSFIELD 463, L.L.C. 
 K. HOVNANIAN AT BARNEGAT I, L.L.C. 

K. HOVNANIAN AT BARNEGAT II, L.L.C. 
 K. HOVNANIAN AT BELLA LAGO,
LLC 
 K. HOVNANIAN AT BERKELEY, L.L.C. 
 K. HOVNANIAN AT BLUE
HERON PINES, L.L.C. 
 K. HOVNANIAN AT BRANCHBURG, L.L.C. 
 K.
HOVNANIAN AT BRIDGEPORT, INC. 
 K. HOVNANIAN AT BRIDGEWATER I, L.L.C. 

K. HOVNANIAN AT CAMP HILL, L.L.C. 
 K. HOVNANIAN AT CAPISTRANO,
L.L.C. 
 K. HOVNANIAN AT CARLSBAD, LLC 

  
 S-1 

 K. HOVNANIAN AT CEDAR GROVE III, L.L.C. 

K. HOVNANIAN AT CEDAR GROVE V, L.L.C. 
 K. HOVNANIAN AT CHADDS
FORD, LLC 
 K. HOVNANIAN AT CHARTER WAY, LLC 
 K. HOVNANIAN AT
CHESTER I, L.L.C. 
 K. HOVNANIAN AT CHESTERFIELD, L.L.C. 
 K.
HOVNANIAN AT CIELO, L.L.C. 
 K. HOVNANIAN AT CLIFTON, L.L.C. 

K. HOVNANIAN AT COASTLINE, L.L.C. 
 K. HOVNANIAN AT CORTEZ HILL,
LLC 
 K. HOVNANIAN AT CRANBURY, L.L.C. 
 K. HOVNANIAN AT
DENVILLE, L.L.C. 
 K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C. 

K. HOVNANIAN AT DOMINGUEZ HILLS, INC. 
 K. HOVNANIAN AT DUVAL
POINTE, LLC 
 K. HOVNANIAN AT EAST BRANDYWINE, L.L.C. 
 K.
HOVNANIAN AT EASTLAKE, LLC 
 K. HOVNANIAN AT EDGEWATER II, L.L.C. 

K. HOVNANIAN AT EDGEWATER, L.L.C. 
 K. HOVNANIAN AT EGG HARBOR
TOWNSHIP II, L.L.C. 
 K. HOVNANIAN AT EGG HARBOR TOWNSHIP, L.L.C. 

K. HOVNANIAN AT EL DORADO RANCH II, L.L.C. 
 K. HOVNANIAN AT EL
DORADO RANCH, L.L.C. 
 K. HOVNANIAN AT ENCINITAS RANCH, LLC 

K. HOVNANIAN AT EVERGREEN, L.L.C. 
 K. HOVNANIAN AT FIDDYMENT
RANCH, LLC 
 K. HOVNANIAN AT FIFTH AVENUE, L.L.C. 
 K.
HOVNANIAN AT FLORENCE I, L.L.C. 
 K. HOVNANIAN AT FLORENCE II, L.L.C. 

K. HOVNANIAN AT FOREST MEADOWS, L.L.C. 
 K. HOVNANIAN AT FRANKLIN
II, L.L.C. 
 K. HOVNANIAN AT FRANKLIN III, L.L.C. 
 K.
HOVNANIAN AT FRANKLIN, L.L.C. 
 K. HOVNANIAN AT FREEHOLD TOWNSHIP, L.L.C. 

K. HOVNANIAN AT FRESNO, LLC 
 K. HOVNANIAN AT GASLAMP SQUARE,
L.L.C. 
 K. HOVNANIAN AT GILROY 60, LLC 
 K. HOVNANIAN AT
GILROY, LLC 
 K. HOVNANIAN AT GRAND CYPRESS, LLC 
 K. HOVNANIAN
AT GREAT NOTCH, L.L.C. 
 K. HOVNANIAN AT GUTTENBERG, L.L.C. 

K. HOVNANIAN AT HACKETTSTOWN II, L.L.C. 
 K. HOVNANIAN AT HAMBURG,
L.L.C. 
 K. HOVNANIAN AT HAWTHORNE, L.L.C. 

  
 S-2 

 K. HOVNANIAN AT HERSHEY’S MILL, INC. 

K. HOVNANIAN AT HIGHLAND SHORES, L.L.C. 
 K. HOVNANIAN AT HOWELL,
LLC 
 K. HOVNANIAN AT HUDSON POINTE, L.L.C. 
 K. HOVNANIAN AT
HUNTFIELD, LLC 
 K. HOVNANIAN AT JACKSON I, L.L.C. 
 K.
HOVNANIAN AT JACKSON, L.L.C. 
 K. HOVNANIAN AT JAEGER RANCH, LLC 

K. HOVNANIAN AT JERSEY CITY IV, L.L.C. 
 K. HOVNANIAN AT JERSEY
CITY V URBAN RENEWAL COMPANY, L.L.C. 
 K. HOVNANIAN AT KEYPORT, L.L.C. 

K. HOVNANIAN AT LA COSTA GREENS, L.L.C. 
 K. HOVNANIAN AT LA
COSTA, LLC 
 K. HOVNANIAN AT LA HABRA KNOLLS, LLC 
 K.
HOVNANIAN AT LA LAGUNA, L.L.C. 
 K. HOVNANIAN AT LAKE BURDEN, LLC 

K. HOVNANIAN AT LAKE RANCHO VIEJO, LLC 
 K. HOVNANIAN AT LAKE
RIDGE ESTATES, LLC 
 K. HOVNANIAN AT LAKE TERRAPIN, L.L.C. 
 K.
HOVNANIAN AT LAWRENCE V, L.L.C. 
 K. HOVNANIAN AT LEE SQUARE L.L.C. 

K. HOVNANIAN AT LENAH WOODS, LLC 
 K. HOVNANIAN AT LITTLE EGG
HARBOR TOWNSHIP II, L.L.C. 
 K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C. 

K. HOVNANIAN AT LONG HILL, L.L.C. 
 K. HOVNANIAN AT LOWER MACUNGIE
TOWNSHIP I, L.L.C. 
 K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP II, L.L.C. 

K. HOVNANIAN AT LOWER MAKEFIELD TOWNSHIP I, L.L.C. 
 K. HOVNANIAN
AT LOWER MORELAND I, L.L.C. 
 K. HOVNANIAN AT LOWER MORELAND II, L.L.C. 

K. HOVNANIAN AT MAHWAH VI, INC. 
 K. HOVNANIAN AT MALAN PARK,
L.L.C. 
 K. HOVNANIAN AT MANALAPAN III, L.L.C. 
 K. HOVNANIAN
AT MANSFIELD I, L.L.C. 
 K. HOVNANIAN AT MANSFIELD II, L.L.C. 

K. HOVNANIAN AT MANSFIELD III, L.L.C. 
 K. HOVNANIAN AT MANTECA,
LLC 
 K. HOVNANIAN AT MAPLE AVENUE, L.L.C. 
 K. HOVNANIAN AT
MARLBORO TOWNSHIP IX, L.L.C. 
 K. HOVNANIAN AT MARLBORO TOWNSHIP V, L.L.C. 

K. HOVNANIAN AT MARLBORO TOWNSHIP VIII, L.L.C. 
 K. HOVNANIAN AT
MARLBORO VI, L.L.C. 
 K. HOVNANIAN AT MARLBORO VII, L.L.C. 

  
 S-3 

 K. HOVNANIAN AT MELANIE MEADOWS, LLC 

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT
MENIFEE, LLC 
 K. HOVNANIAN AT MIDDLE TOWNSHIP II, L.L.C. 
 K.
HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT MIDDLETOWN II, L.L.C. 

K. HOVNANIAN AT MIDDLETOWN III, LLC 
 K. HOVNANIAN AT MIDDLETOWN,
LLC 
 K. HOVNANIAN AT MILLVILLE I, L.L.C. 
 K. HOVNANIAN AT
MILLVILLE II, L.L.C. 
 K. HOVNANIAN AT MONROE II, INC. 
 K.
HOVNANIAN AT MONROE IV, L.L.C. 
 K. HOVNANIAN AT MONROE NJ II, LLC 

K. HOVNANIAN AT MONROE NJ, L.L.C. 
 K. HOVNANIAN AT MONTGOMERY,
LLC 
 K. HOVNANIAN AT MONTVALE II, LLC 
 K. HOVNANIAN AT
MONTVALE, L.L.C. 
 K. HOVNANIAN AT MOSAIC, LLC 
 K. HOVNANIAN
AT MUIRFIELD, LLC 
 K. HOVNANIAN AT NEW WINDSOR, L.L.C. 
 K.
HOVNANIAN AT NORTH BERGEN. L.L.C. 
 K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C. 

K. HOVNANIAN AT NORTH CALDWELL II, L.L.C. 
 K. HOVNANIAN AT NORTH
CALDWELL III, L.L.C. 
 K. HOVNANIAN AT NORTH CALDWELL IV, L.L.C. 

K. HOVNANIAN AT NORTH HALEDON, L.L.C. 
 K. HOVNANIAN AT NORTH
WILDWOOD, L.L.C. 
 K. HOVNANIAN AT NORTHAMPTON, L.L.C. 
 K.
HOVNANIAN AT NORTHERN WESTCHESTER, INC. 
 K. HOVNANIAN AT NORTHFIELD, L.L.C. 

K. HOVNANIAN AT OCEAN TOWNSHIP, INC. 
 K. HOVNANIAN AT OCEAN WALK,
INC. 
 K. HOVNANIAN AT OCEANPORT, L.L.C. 
 K. HOVNANIAN AT OLD
BRIDGE, L.L.C. 
 K. HOVNANIAN AT OLDE ORCHARD, LLC 
 K.
HOVNANIAN AT PARK LANE, LLC 
 K. HOVNANIAN AT PARKSIDE, LLC 

K. HOVNANIAN AT PARSIPPANY, L.L.C. 
 K. HOVNANIAN AT
PARSIPPANY-TROY HILLS, L.L.C. 
 K. HOVNANIAN AT PAVILLION PARK, LLC 

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C. 
 K. HOVNANIAN AT PIAZZA
SERENA, L.L.C. 
 K. HOVNANIAN AT PITTSGROVE, L.L.C. 
 K.
HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C. 

  
 S-4 

 K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C. 

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C. 
 K.
HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C. 
 K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C. 

K. HOVNANIAN AT POSITANO, LLC 
 K. HOVNANIAN AT PRADO, L.L.C. 

K. HOVNANIAN AT RANCHO SANTA MARGARITA, LLC 
 K. HOVNANIAN AT
RANDOLPH I, L.L.C. 
 K. HOVNANIAN AT RAPHO, L.L.C. 
 K.
HOVNANIAN AT RESERVES AT WHEATLAND, LLC 
 K. HOVNANIAN AT RIDGEMONT, L.L.C. 

K. HOVNANIAN AT RIVERBEND, LLC 
 K. HOVNANIAN AT RODERUCK, L.L.C.

 K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C. 
 K. HOVNANIAN AT
SAGE, L.L.C. 
 K. HOVNANIAN AT SANTA NELLA, LLC 
 K. HOVNANIAN
AT SAWMILL, INC. 
 K. HOVNANIAN AT SAYREVILLE, L.L.C. 
 K.
HOVNANIAN AT SCOTCH PLAINS, L.L.C. 
 K. HOVNANIAN AT SEASONS LANDING, LLC 

K. HOVNANIAN AT SHELDON GROVE, LLC 
 K. HOVNANIAN AT SHREWSBURY,
LLC 
 K. HOVNANIAN AT SILVER SPRING, L.L.C. 
 K. HOVNANIAN AT
SKYE ISLE, LLC 
 K. HOVNANIAN AT SMITHVILLE, INC. 
 K.
HOVNANIAN AT SOMERS POINT, L.L.C. 
 K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC 

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C. 
 K. HOVNANIAN AT STANTON,
LLC 
 K. HOVNANIAN AT STATION SQUARE, L.L.C. 
 K. HOVNANIAN AT
SUNRIDGE PARK, LLC 
 K. HOVNANIAN AT SYCAMORE, INC. 
 K.
HOVNANIAN AT THE CROSBY, LLC 
 K. HOVNANIAN AT THE GABLES, LLC 

K. HOVNANIAN AT THE MONARCH, L.L.C. 
 K. HOVNANIAN AT THE
PRESERVE, LLC 
 K. HOVNANIAN AT THOMPSON RANCH, LLC 
 K.
HOVNANIAN AT THORNBURY, INC. 
 K. HOVNANIAN AT TRAIL RIDGE, LLC 

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP II, L.L.C. 
 K. HOVNANIAN
AT UPPER FREEHOLD TOWNSHIP III, L.L.C. 
 K. HOVNANIAN AT UPPER MAKEFIELD I, INC. 

K. HOVNANIAN AT UPPER PROVIDENCE, LLC 
 K. HOVNANIAN AT UPPER
UWCHLAN II, L.L.C. 

  
 S-5 

 K. HOVNANIAN AT UPPER UWCHLAN, L.L.C. 

K. HOVNANIAN AT VALLE DEL SOL, LLC 
 K. HOVNANIAN AT VERONA
ESTATES, LLC 
 K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C. 

K. HOVNANIAN AT VICTORVILLE, L.L.C. 
 K. HOVNANIAN AT VINELAND,
L.L.C. 
 K. HOVNANIAN AT VISTA DEL SOL, L.L.C. 
 K. HOVNANIAN
AT WALDWICK, LLC 
 K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C. 
 K.
HOVNANIAN AT WASHINGTON, L.L.C. 
 K. HOVNANIAN AT WATERSTONE, LLC 

K. HOVNANIAN AT WAYNE IX, L.L.C. 
 K. HOVNANIAN AT WAYNE, VIII,
L.L.C. 
 K. HOVNANIAN AT WEST VIEW ESTATES, L.L.C. 
 K.
HOVNANIAN AT WEST WINDSOR, L.L.C. 
 K. HOVNANIAN AT WESTSHORE, LLC 

K. HOVNANIAN AT WHEELER RANCH, LLC 
 K. HOVNANIAN AT WILDWOOD
BAYSIDE, L.L.C. 
 K. HOVNANIAN AT WILLOW BROOK, L.L.C. 
 K.
HOVNANIAN AT WINCHESTER, LLC 
 K. HOVNANIAN AT WOODCREEK WEST, LLC 

K. HOVNANIAN AT WOOLWICH I, L.L.C. 
 K. HOVNANIAN CAMBRIDGE HOMES,
L.L.C. 
 K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C. 
 K.
HOVNANIAN CLASSICS, L.L.C. 
 K. HOVNANIAN COMMUNITIES, INC. 

K. HOVNANIAN COMPANIES OF CALIFORNIA, INC. 
 K. HOVNANIAN
COMPANIES OF MARYLAND, INC. 
 K. HOVNANIAN COMPANIES OF NEW YORK, INC. 

K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC. 
 K. HOVNANIAN
COMPANIES OF SOUTHERN CALIFORNIA, INC. 
 K. HOVNANIAN COMPANIES, LLC 

K. HOVNANIAN CONSTRUCTION II, INC 
 K. HOVNANIAN CONSTRUCTION III,
INC 
 K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC. 
 K. HOVNANIAN
CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C. 
 K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC. 

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF D.C., INC. 
 K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC. 

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF ILLINOIS, INC. 
 K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC. 

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC. 

  
 S-6 

 K. HOVNANIAN DEVELOPMENTS OF MINNESOTA, INC. 

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF NEW JERSEY, INC. 
 K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC. 

K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF OHIO, INC. 
 K. HOVNANIAN DEVELOPMENTS OF PENNSYLVANIA, INC. 

K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF TEXAS, INC. 
 K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC. 

K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC. 
 K. HOVNANIAN
DFW BELMONT, LLC 
 K. HOVNANIAN DFW RIDGEVIEW, LLC 
 K.
HOVNANIAN EASTERN PENNSYLVANIA, L.L.C. 
 K. HOVNANIAN EDGEBROOK, LLC 

K. HOVNANIAN ESTATES AT REGENCY, L.L.C. 
 K. HOVNANIAN FIRST
HOMES, L.L.C. 
 K. HOVNANIAN FLORIDA REALTY, L.L.C. 
 K.
HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, LLC 
 K. HOVNANIAN FOUR SEASONS AT GOLD HILL, LLC 

K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC 
 K. HOVNANIAN
GREAT WESTERN HOMES, LLC 
 K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C. 

K. HOVNANIAN HIDDEN HOLLOW, LLC 
 K. HOVNANIAN HOLDINGS NJ, L.L.C.

 K. HOVNANIAN HOMES — DFW, L.L.C. 
 K. HOVNANIAN HOMES AT
CAMERON STATION, LLC 
 K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C. 

K. HOVNANIAN HOMES AT CREEKSIDE, LLC 
 K. HOVNANIAN HOMES AT
FAIRWOOD, L.L.C. 
 K. HOVNANIAN HOMES AT FOREST RUN, L.L.C. 

K. HOVNANIAN HOMES AT GREENWAY FARM PARK TOWNS, L.L.C. 
 K.
HOVNANIAN HOMES AT GREENWAY FARM, L.L.C. 
 K. HOVNANIAN HOMES AT JONES STATION 1, L.L.C. 

K. HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C. 
 K. HOVNANIAN HOMES
AT REEDY CREEK, LLC 
 K. HOVNANIAN HOMES AT RENAISSANCE PLAZA, L.L.C. 

K. HOVNANIAN HOMES AT RUSSETT, L.L.C. 
 K. HOVNANIAN HOMES AT ST.
JAMES PLACE, LLC 
 K. HOVNANIAN HOMES AT THE HIGHLANDS, LLC 

K. HOVNANIAN HOMES AT THE PADDOCKS, LLC 
 K. HOVNANIAN HOMES
NORTHERN CALIFORNIA, INC. 
 K. HOVNANIAN HOMES OF D.C., L.L.C. 

K. HOVNANIAN HOMES OF DELAWARE, L.L.C. 

  
 S-7 

 K. HOVNANIAN HOMES OF GEORGIA, L.L.C. 

K. HOVNANIAN HOMES OF HOUSTON, L.L.C. 
 K. HOVNANIAN HOMES OF
LONGACRE VILLAGE, L.L.C. 
 K. HOVNANIAN HOMES OF MARYLAND, L.L.C. 

K. HOVNANIAN HOMES OF MINNESOTA, L.L.C. 
 K. HOVNANIAN HOMES OF
NORTH CAROLINA, INC. 
 K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C. 

K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC 
 K. HOVNANIAN HOMES OF
VIRGINIA, INC. 
 K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C. 

K. HOVNANIAN INDIAN TRAILS, LLC 
 K. HOVNANIAN LADUE RESERVE, LLC

 K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC 
 K. HOVNANIAN
MANALAPAN ACQUISITION, LLC 
 K. HOVNANIAN MONARCH GROVE, LLC 

K. HOVNANIAN NORTH CENTRAL ACQUISITIONS, L.L.C. 
 K. HOVNANIAN
NORTH JERSEY ACQUISITIONS, L.L.C. 
 K. HOVNANIAN NORTHEAST SERVICES, L.L.C. 

K. HOVNANIAN OF HOUSTON II, L.L.C. 
 K. HOVNANIAN OHIO REALTY,
L.L.C. 
 K. HOVNANIAN OSTER HOMES, L.L.C. 
 K. HOVNANIAN PA
REAL ESTATE, INC. 
 K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C. 

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC. 
 K. HOVNANIAN
PROPERTIES OF RED BANK, INC. 
 K. HOVNANIAN RIVENDALE, LLC 
 K.
HOVNANIAN SCHADY RESERVE, LLC 
 K. HOVNANIAN SHORE ACQUISITIONS, L.L.C. 

K. HOVNANIAN SOUTH FORK, LLC 
 K. HOVNANIAN SOUTH JERSEY
ACQUISITIONS, L.L.C. 
 K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C. 

K. HOVNANIAN STERLING RANCH, LLC 
 K. HOVNANIAN SUMMIT HOLDINGS,
L.L.C. 
 K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C. 
 K.
HOVNANIAN SUMMIT HOMES OF PENNSYLVANIA, L.L.C. 
 K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C. 

K. HOVNANIAN SUMMIT HOMES, L.L.C. 
 K. HOVNANIAN T&C HOMES AT
FLORIDA, L.L.C. 
 K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C. 

K. HOVNANIAN TIMBRES AT ELM CREEK, LLC 
 K. HOVNANIAN VENTURE I,
L.L.C. 
 K. HOVNANIAN WATERBURY, LLC 
 K. HOVNANIAN WHITE ROAD,
LLC 
 K. HOVNANIAN WINDWARD HOMES, LLC 

  
 S-8 

 K. HOVNANIAN WOODLAND POINTE, LLC 

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C. 
 K.
HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC 
 K. HOVNANIAN’S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT KENT ISLAND CONDOMINIUMS, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT KENT ISLAND, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT LOS BANOS, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT MORENO VALLEY, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT PALM SPRINGS, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC 

K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK, L.L.C. 
 K.
HOVNANIAN’S FOUR SEASONS AT SILVER MAPLE FARM, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT ST. MARGARETS LANDING, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS, LLC 
 K. HOVNANIAN’S
PARKSIDE AT TOWNGATE, L.L.C. 
 KHIP, L.L.C. 
 LANDARAMA, INC.

 M&M AT CHESTERFIELD, LLC 
 M&M AT CRESCENT COURT,
L.L.C. 
 M&M AT WEST ORANGE, L.L.C. 
 M&M AT WHEATENA
URBAN RENEWAL, L.L.C. 
 MATZEL & MUMFORD AT EGG HARBOR, L.L.C. 

MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C. 

MCNJ, INC. 
 MIDWEST BUILDING PRODUCTS & CONTRACTOR
SERVICES OF PENNSYLVANIA, L.L.C. 
 MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST VIRGINIA, L.L.C. 

MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C. 

MMIP, L.L.C. 
 NEW LAND TITLE AGENCY, L.L.C. 

PADDOCKS, L.L.C. 
 PARK TITLE COMPANY, LLC 

PINE AYR, LLC 
 RIDGEMORE UTILITY, L.L.C. 

SEABROOK ACCUMULATION CORPORATION 
 STONEBROOK HOMES, INC. 

TERRAPIN REALTY, L.L.C. 

  
 S-9 

 THE MATZEL & MUMFORD ORGANIZATION, INC 

WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C. 
 WASHINGTON
HOMES, INC. 
 WESTMINSTER HOMES, INC. 
 WH PROPERTIES, INC 

WOODLAND LAKE CONDOMINIUMS AT BOWIE NEW TOWN, L.L.C. 

  
 S-10 

 EXHIBIT A 

[FACE OF NOTE] 
 UNLESS THIS NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ANY OF ITS SUBSIDIARIES OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 

THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED. TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC OR BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY AND TRANSFERS OF PORTIONS OF THIS GLOBAL
NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE. 

  
 A-1 

 K. HOVNANIAN ENTERPRISES, INC. 

 

					
	6.25% Senior Notes Due 2016	 		 	
			
		 		 	CUSIP No.: 442488AY8
			
	No.	 		 	 $41,581,000, or such other amount
 as is
provided in the schedule of
 exchanges of interests in global notes

attached hereto

 K. Hovnanian Enterprises, Inc., a California corporation (the “Issuer,” which term
includes any successor under the Indenture hereinafter referred to), for value received, promises to pay to Cede & Co., or its registered assigns, the principal sum of FORTY-ONE MILLION, FIVE HUNDRED AND EIGHTY-ONE THOUSAND DOLLARS
($41,581,000), or such other amount as is provided in a schedule of exchanges of interests in global notes attached hereto, on January 15, 2016. 

Interest Rate: 6.25% per annum. 

Interest Payment Dates: January 15 and July 15, commencing January 15, 2014. 

Record Dates: January 1 and July 1. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 

  
 A-2 

 IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually or by facsimile by its
duly authorized officer. 
 Dated: September 16, 2013 
  

							
		 		 	K. HOVNANIAN ENTERPRISES, INC.
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

  
 A-3 

 Trustee’s Certificate of Authentication 

This is one of the 6.25% Senior Notes Due 2016 described in the Indenture referred to in this Note. 

 

			
	DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee
		
	By:	 	 
		 	 Name: 
 Title:   Authorized
Signatory

  

			
		
	By:	 	 
		 	 Name: 
 Title:   Authorized
Signatory

  
 A-4 

 [REVERSE SIDE OF NOTE] 

K. HOVNANIAN ENTERPRISES, INC. 

6.25% Senior Notes Due 2016 

Capitalized terms used herein are used as defined in the Indenture referred to below unless otherwise indicated. 

 

	1.	Principal and Interest. 

 K. Hovnanian Enterprises, Inc. (the
“Issuer,” which term includes any successor under the Indenture hereinafter referred to), a California corporation, promises to pay the principal of this Note on January 15, 2016. 

The Issuer promises to pay interest on the principal amount of this Note on each interest payment date, as set forth on the face of this Note,
at the rate of 6.25% per annum. 
 Interest will be payable semiannually (to the holders of record of the Notes at the close of
business on the January 1 or July 1 immediately preceding the interest payment date) on each interest payment date, commencing January 15, 2014. 

Interest on this Note will accrue from the most recent date to which interest has been paid on this Note or the Note surrendered in exchange
for this Note (or, if there is no existing default in the payment of interest and if this Note is authenticated between a regular record date and the next interest payment date, from such interest payment date) or, if no interest has been paid, from
July 15, 2013. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
  

	2.	Paying Agent and Registrar. 

 Initially, Deutsche Bank National Trust Company (the
“Trustee”) will act as Paying Agent and Registrar. The Issuer may change or appoint any Paying Agent, Registrar or co-Registrar without notice to any Holder. The Issuer or any of its Subsidiaries may act as Paying Agent, Registrar
or co-Registrar. 
  

	3.	Indenture; Guarantees. 

 This is one of the Notes issued under an Indenture dated
as of August 8, 2005, among the Issuer, the Guarantors party thereto and the Trustee (the “Base Indenture”), as amended and supplemented by the Eleventh Supplemental Indenture dated as of September 16, 2013, among the
Issuer, the Guarantors party thereto and the Trustee (the “Supplemental Indenture” and, together with the  

  
 R-1 

 
Base Indenture, the “Indenture”). The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act.
The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this
Note and the terms of the Indenture, the terms of the Indenture will control. 
 The Notes are general unsecured obligations of the
Issuer. The Base Indenture limits the original aggregate principal amount of the Notes issued thereunder to $300,000,000, and the Supplemental Indenture limits the aggregate principal amount of the Notes issued thereunder to $41,581,000, but
Additional Notes may be issued pursuant to the Indenture (subject to the conditions stated therein), and the Notes issued as of the date hereof and all such Additional Notes vote together for all purposes as a single class. This Note is guaranteed
by the Guarantors as set forth in the Indenture and the Guarantee endorsed hereon. 
 Reference is hereby made to the Indenture for a
statement of the respective rights, duties and obligations thereunder of the Issuer, the Guarantors, the Trustee and the Holders. 
  

	4.	Optional Redemption. 

 The Notes will be redeemable, in whole, at any time, or in part,
from time to time, at the option of the Issuer upon not less than 30 nor more than 60 days’ notice at a redemption price equal to the sum of: 

(a) 100% of the principal amount thereof, plus accrued and unpaid interest thereon to the redemption date; plus 

(b) the Make-Whole Amount. 
 The
Trustee shall have no responsibility in connection with the calculation of such redemption price. 
 “Make-Whole Amount”
means, in connection with any optional redemption of any Note, the excess, if any, of: (a) the aggregate present value as of the date of such redemption of each dollar of principal being redeemed and the amount of interest (exclusive of
interest accrued to the redemption date) that would have been payable in respect of such dollar if such prepayment had not been made, determined by discounting, on a semiannual basis, such principal and interest at the Treasury Rate (determined on
the Business Day preceding the date of such redemption) plus 0.50%, from the respective dates on which such principal and interest would have been payable if such payment had not been made; over (b) the principal amount of the Note being
redeemed. 

  
 R-2 

 “Treasury Rate” means, in connection with the calculation of any Make-Whole
Amount with respect to any Note, the yield to maturity at the time of computation of United States Treasury securities with a constant maturity, as compiled by and published in the most recent Federal Reserve Statistical Release H.15 (519) that
has become publicly available at least two business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source or similar market data), equal to the then remaining maturity of the Note
being prepaid. If no maturity exactly corresponds to such maturity, yields for the published maturities occurring prior to and after such maturity most closely corresponding to such maturity shall be calculated pursuant to the immediately preceding
sentence and the Treasury Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. 

If less than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption on a pro rata basis, by lot or by
such other method as the Trustee in its sole discretion shall deem appropriate and fair. 
 No Notes of $1,000 in original principal amount
or less shall be redeemed in part. Notices of redemption may not be conditional. 
 If any Note is to be redeemed in part only, the notice
of redemption that relates to that Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion of the original Note will be issued in the name of the Holder thereof upon
cancellation of the original Note. Notes called for redemption become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions thereof called for redemption. 

 

	5.	Repurchase Provisions. 

 If a Change of Control occurs, each Holder shall have the right,
at such Holder’s option, to require the Issuer to purchase all or any part (equal to $1,000 principal amount or any multiple of $1,000 in excess thereof) of such Holder’s Notes on a date that is no later than 90 days after notice of the
Change of Control, at a purchase price equal to 101% of the principal amount thereof, plus accrued and unpaid interest and Additional Interest, if any, to the date of repurchase as provided in, and subject to the terms of, the Indenture. 

 

	6.	Mandatory Redemption. 

 There is no sinking fund for, or mandatory redemption of,
the Notes. 

  
 R-3 

	7.	Discharge and Defeasance. 

 If the Issuer deposits with the Trustee money and/or U.S.
Government Obligations sufficient to pay the then outstanding principal of, premium, interest and Additional Interest, if any, and accrued interest on the Notes to redemption or maturity, as the case may be, the Issuer, the Company and the
Guarantors may in certain circumstances be discharged from the Indenture, the Notes and the Guarantees or may be discharged from certain of their obligations under certain provisions of the Indenture. 

 

	8.	Registered Form; Denominations; Transfer; Exchange. 

 The Notes are in registered form
only without coupons in denominations of $1,000 principal amount and any multiple of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to
issue, register the transfer of, or exchange any Note or certain portions of a Note. 
  

	9.	Persons Deemed Owners. 

 The registered Holder of this Note shall be treated as the owner
of it for all purposes. 
  

	10.	Defaults and Remedies. 

 If an Event of Default occurs and is continuing, the Trustee or
the Holders of at least 25% in principal amount of the Notes may declare all the Notes to be due and payable immediately. If a bankruptcy or insolvency default with respect to the Issuer or the Company occurs and is continuing, the Notes
automatically become immediately due and payable. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to
certain limitations, Holders of a majority in principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies. 
  

	11.	Amendment, Supplement and Waiver. 

 Subject to certain exceptions, the Indenture, the
Notes and the Guarantees may be amended or supplemented, or future compliance therewith may be waived, with the consent of the Holders of a majority in principal amount of the outstanding Notes. Without notice to or the consent of any Holder, the
Issuer, the Company, the Guarantors and the Trustee may amend or supplement the Indenture, the Notes or the Guarantees to, among other things, cure any ambiguity, defect or inconsistency or if such amendment or supplement does not adversely affect
the legal rights of any Holder. 

  
 R-4 

	12.	Trustee Dealings With Issuer. 

 The Trustee, in its individual or any other
capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuer or its affiliates, with the same rights as if it were not Trustee; however, if it acquires any conflicting interest (as defined in the Trust Indenture
Act), it must eliminate such conflict, apply to the Commission for permission to continue or resign. 
  

	13.	No Recourse Against Others. 

 An incorporator, and any past, present or future director,
officer, partner, employee or stockholder, as such, of the Issuer, the Company or the Guarantors shall not have any liability for any obligations of the Issuer, the Company or the Guarantors under the Notes, the Indenture or the Guarantees or for
any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 

 

	14.	Governing Law. 

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
  

	15.	CUSIP Numbers. 

 Pursuant to a recommendation promulgated by the Committee on Uniform
Note Identification Procedures, the Issuer has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices as a convenience to Holders. No representation is made as to the accuracy of such numbers either as
printed on the Notes or as contained in any notice and reliance may be placed only on the other identification numbers placed thereon. 
  

	16.	Authentication. 

 This Note is not valid until the Trustee (or Authenticating Agent)
manually signs the certificate of authentication on the other side of this Note. 

  
 R-5 

	17.	Abbreviations. 

 Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act). 

The Issuer will furnish a copy of the Indenture to any Holder upon written request and without charge. 

  
 R-6 

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

Insert Social Security or Taxpayer Identification No. 
  

 
  

 
 Please print or typewrite name and
address, including zip code, of assignee 
  
  

 
  

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

 
  

agent to transfer this Note on the books of the Issuer with full power of substitution in the premises. 

 

							
	Dated:	 	 	 	        Signed:	  	 
		 		 	  
         (sign
exactly as name appears on the other side of this Note)

  

			
	Signature Guarantee1:	  	 

  

	1 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Note Transfer Agent
Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of
1934, as amended. 

  
 R-7 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you wish to have all of this Note purchased by the Issuer pursuant to Section 4.10 or Section 4.12 of the Indenture, check the
box: 9 
 If you wish to have a portion of this Note purchased by the Issuer pursuant to Section 4.10 or Section 4.12 of the
Indenture, state the amount (in original principal amount) below: 

$                    
                        . 

Date:                         
    
 Your
Signature:                                       
                  
 (Sign exactly as your name appears on the other
side of this Note) 
 Signature Guarantee:2
                                         
                        

 

	2 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Trustee, which requirements include membership or participation in the Note Transfer Agent Medallion
Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended. 

  
 R-8 

 SCHEDULE OF EXCHANGES OF INTERESTS IN GLOBAL NOTES 

The following exchanges of a part of this Global Note for Certificated Notes or an interest in another Global Note, or exchanges of a part of
another Global Note or Certificated Note for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of

decrease in
 principal
amount
 of this Global Note
	 	 Amount of

increase in
 principal
amount
 of this Global Note
	  	 Principal amount

of this Global Note

following such
 decrease
or
 increase
	  	 Signature of

authorized officer
 of
Trustee

  
 R-9 

 GUARANTEE 

The undersigned (the “Guarantors”) have unconditionally guaranteed, jointly and severally (such guarantee by each
Guarantor being referred to herein as the “Guarantee”) (i) the due and punctual payment of the principal of and interest and Additional Interest, if any, on the Issuer’s 6.25% Senior Notes due 2016 (the
“Notes”), whether at maturity or on an interest payment date, by acceleration or otherwise, on the Notes, to the extent lawful, and of all other obligations of the Issuer to the Holders or the Trustee all in accordance with the
terms set forth in Article 6 of the Indenture and (ii) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with
the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 
 No past, present or future
stockholder, officer, director, employee, partner or incorporator, as such, of any of the Guarantors shall have any liability under the Guarantee evidenced hereby by reason of such person’s status as stockholder, officer, director, employee,
partner or incorporator. Each Holder of a Note by accepting a Note waives and releases all such liability. This waiver and release are part of the consideration for the issuance of the Guarantee. 

Each Holder of a Note by accepting a Note agrees that any Guarantor named below shall have no further liability with respect to its Guarantee
if such Guarantor otherwise ceases to be liable in respect of its Guarantee in accordance with the terms of the Indenture. 
 The Guarantee
evidenced hereby shall not be valid or obligatory for any purpose until the certificate of authentication on the Notes upon which the Guarantee is noted shall have been executed by the Trustee under the Indenture by the manual signature of one of
its authorized officers. 
 This Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York. 

HOVNANIAN ENTERPRISES, INC. 
 ARBOR TRAILS, LLC 

AUDDIE ENTERPRISES, L.L.C. 
 BUILDER SERVICES NJ, L.L.C. 

BUILDER SERVICES PA, L.L.C. 
 DULLES COPPERMINE, L.L.C. 

EASTERN NATIONAL TITLE AGENCY, LLC 
 EASTERN TITLE AGENCY, INC.

 F&W MECHANICAL SERVICES, L.L.C. 
 FOUNDERS TITLE AGENCY
OF MARYLAND, L.L.C. 

  
 R-10 

 FOUNDERS TITLE AGENCY, INC. 

GLENRISE GROVE, L.L.C. 
 GOVERNOR’S ABSTRACT CO., INC. 

HOMEBUYERS FINANCIAL SERVICES, L.L.C. 
 HOVNANIAN DEVELOPMENTS OF
FLORIDA, INC. 
 HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C. 

HOVNANIAN LAND INVESTMENT GROUP OF MARYLAND, L.L.C. 
 HOVNANIAN
LAND INVESTMENT GROUP, L.L.C. 
 K. HOV IP, II, INC. 
 K. HOV
IP, INC. 
 K. HOVNANIAN ABERDEEN, LLC 
 K. HOVNANIAN
ACQUISITIONS, INC. 
 K. HOVNANIAN AT 4S, LLC 
 K. HOVNANIAN AT
ACQUA VISTA, LLC 
 K. HOVNANIAN AT ALISO, LLC 
 K. HOVNANIAN AT
ALLENTOWN, L.L.C. 
 K. HOVNANIAN AT ANDALUSIA, LLC 
 K.
HOVNANIAN AT ARBOR HEIGHTS, LLC 
 K. HOVNANIAN AT AVENUE ONE, L.L.C. 

K. HOVNANIAN AT BAKERSFIELD 463, L.L.C. 
 K. HOVNANIAN AT BARNEGAT
I, L.L.C. 
 K. HOVNANIAN AT BARNEGAT II, L.L.C. 
 K. HOVNANIAN
AT BELLA LAGO, LLC 
 K. HOVNANIAN AT BERKELEY, L.L.C. 
 K.
HOVNANIAN AT BLUE HERON PINES, L.L.C. 
 K. HOVNANIAN AT BRANCHBURG, L.L.C. 

K. HOVNANIAN AT BRIDGEPORT, INC. 
 K. HOVNANIAN AT BRIDGEWATER I,
L.L.C. 
 K. HOVNANIAN AT CAMP HILL, L.L.C. 
 K. HOVNANIAN AT
CAPISTRANO, L.L.C. 
 K. HOVNANIAN AT CARLSBAD, LLC 
 K.
HOVNANIAN AT CEDAR GROVE III, L.L.C. 
 K. HOVNANIAN AT CEDAR GROVE V, L.L.C. 

K. HOVNANIAN AT CHADDS FORD, LLC 
 K. HOVNANIAN AT CHARTER WAY,
LLC 
 K. HOVNANIAN AT CHESTER I, L.L.C. 
 K. HOVNANIAN AT
CHESTERFIELD, L.L.C. 
 K. HOVNANIAN AT CIELO, L.L.C. 
 K.
HOVNANIAN AT CLIFTON, L.L.C. 
 K. HOVNANIAN AT COASTLINE, L.L.C. 

K. HOVNANIAN AT CORTEZ HILL, LLC 
 K. HOVNANIAN AT CRANBURY,
L.L.C. 
 K. HOVNANIAN AT DENVILLE, L.L.C. 
 K. HOVNANIAN AT
DEPTFORD TOWNSHIP, L.L.C. 

  
 R-11 

 K. HOVNANIAN AT DOMINGUEZ HILLS, INC. 

K. HOVNANIAN AT DUVAL POINTE, LLC 
 K. HOVNANIAN AT EAST
BRANDYWINE, L.L.C. 
 K. HOVNANIAN AT EASTLAKE, LLC 
 K.
HOVNANIAN AT EDGEWATER II, L.L.C. 
 K. HOVNANIAN AT EDGEWATER, L.L.C. 

K. HOVNANIAN AT EGG HARBOR TOWNSHIP II, L.L.C. 
 K. HOVNANIAN AT
EGG HARBOR TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT EL DORADO RANCH II, L.L.C. 

K. HOVNANIAN AT EL DORADO RANCH, L.L.C. 
 K. HOVNANIAN AT
ENCINITAS RANCH, LLC 
 K. HOVNANIAN AT EVERGREEN, L.L.C. 
 K.
HOVNANIAN AT FIDDYMENT RANCH, LLC 
 K. HOVNANIAN AT FIFTH AVENUE, L.L.C. 

K. HOVNANIAN AT FLORENCE I, L.L.C. 
 K. HOVNANIAN AT FLORENCE II,
L.L.C. 
 K. HOVNANIAN AT FOREST MEADOWS, L.L.C. 
 K. HOVNANIAN
AT FRANKLIN II, L.L.C. 
 K. HOVNANIAN AT FRANKLIN III, L.L.C. 

K. HOVNANIAN AT FRANKLIN, L.L.C. 
 K. HOVNANIAN AT FREEHOLD
TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT FRESNO, LLC 
 K. HOVNANIAN
AT GASLAMP SQUARE, L.L.C. 
 K. HOVNANIAN AT GILROY 60, LLC 
 K.
HOVNANIAN AT GILROY, LLC 
 K. HOVNANIAN AT GRAND CYPRESS, LLC 

K. HOVNANIAN AT GREAT NOTCH, L.L.C. 
 K. HOVNANIAN AT GUTTENBERG,
L.L.C. 
 K. HOVNANIAN AT HACKETTSTOWN II, L.L.C. 
 K. HOVNANIAN
AT HAMBURG, L.L.C. 
 K. HOVNANIAN AT HAWTHORNE, L.L.C. 
 K.
HOVNANIAN AT HERSHEY’S MILL, INC. 
 K. HOVNANIAN AT HIGHLAND SHORES, L.L.C. 

K. HOVNANIAN AT HOWELL, LLC 
 K. HOVNANIAN AT HUDSON POINTE,
L.L.C. 
 K. HOVNANIAN AT HUNTFIELD, LLC 
 K. HOVNANIAN AT
JACKSON I, L.L.C. 
 K. HOVNANIAN AT JACKSON, L.L.C. 
 K.
HOVNANIAN AT JAEGER RANCH, LLC 
 K. HOVNANIAN AT JERSEY CITY IV, L.L.C. 

K. HOVNANIAN AT JERSEY CITY V URBAN RENEWAL COMPANY, L.L.C. 
 K.
HOVNANIAN AT KEYPORT, L.L.C. 
 K. HOVNANIAN AT LA COSTA GREENS, L.L.C. 

  
 R-12 

 K. HOVNANIAN AT LA COSTA, LLC 

K. HOVNANIAN AT LA HABRA KNOLLS, LLC 
 K. HOVNANIAN AT LA LAGUNA,
L.L.C. 
 K. HOVNANIAN AT LAKE BURDEN, LLC 
 K. HOVNANIAN AT
LAKE RANCHO VIEJO, LLC 
 K. HOVNANIAN AT LAKE RIDGE ESTATES, LLC 

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C. 
 K. HOVNANIAN AT LAWRENCE
V, L.L.C. 
 K. HOVNANIAN AT LEE SQUARE L.L.C. 
 K. HOVNANIAN AT
LENAH WOODS, LLC 
 K. HOVNANIAN AT LITTLE EGG HARBOR TOWNSHIP II, L.L.C. 

K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C. 
 K. HOVNANIAN AT LONG
HILL, L.L.C. 
 K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP I, L.L.C. 

K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP II, L.L.C. 
 K. HOVNANIAN
AT LOWER MAKEFIELD TOWNSHIP I, L.L.C. 
 K. HOVNANIAN AT LOWER MORELAND I, L.L.C. 

K. HOVNANIAN AT LOWER MORELAND II, L.L.C. 
 K. HOVNANIAN AT MAHWAH
VI, INC. 
 K. HOVNANIAN AT MALAN PARK, L.L.C. 
 K. HOVNANIAN AT
MANALAPAN III, L.L.C. 
 K. HOVNANIAN AT MANSFIELD I, L.L.C. 

K. HOVNANIAN AT MANSFIELD II, L.L.C. 
 K. HOVNANIAN AT MANSFIELD
III, L.L.C. 
 K. HOVNANIAN AT MANTECA, LLC 
 K. HOVNANIAN AT
MAPLE AVENUE, L.L.C. 
 K. HOVNANIAN AT MARLBORO TOWNSHIP IX, L.L.C. 

K. HOVNANIAN AT MARLBORO TOWNSHIP V, L.L.C. 
 K. HOVNANIAN AT
MARLBORO TOWNSHIP VIII, L.L.C. 
 K. HOVNANIAN AT MARLBORO VI, L.L.C. 

K. HOVNANIAN AT MARLBORO VII, L.L.C. 
 K. HOVNANIAN AT MELANIE
MEADOWS, LLC 
 K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C. 
 K.
HOVNANIAN AT MENIFEE, LLC 
 K. HOVNANIAN AT MIDDLE TOWNSHIP II, L.L.C. 

K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT
MIDDLETOWN II, L.L.C. 
 K. HOVNANIAN AT MIDDLETOWN III, LLC 

K. HOVNANIAN AT MIDDLETOWN, LLC 
 K. HOVNANIAN AT MILLVILLE I,
L.L.C. 
 K. HOVNANIAN AT MILLVILLE II, L.L.C. 
 K. HOVNANIAN AT
MONROE II, INC. 
 K. HOVNANIAN AT MONROE IV, L.L.C. 
 K.
HOVNANIAN AT MONROE NJ II, LLC 

  
 R-13 

 K. HOVNANIAN AT MONROE NJ, L.L.C. 

K. HOVNANIAN AT MONTGOMERY, LLC 
 K. HOVNANIAN AT MONTVALE II, LLC

 K. HOVNANIAN AT MONTVALE, L.L.C. 
 K. HOVNANIAN AT MOSAIC,
LLC 
 K. HOVNANIAN AT MUIRFIELD, LLC 
 K. HOVNANIAN AT NEW
WINDSOR, L.L.C. 
 K. HOVNANIAN AT NORTH BERGEN. L.L.C. 
 K.
HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C. 
 K. HOVNANIAN AT NORTH CALDWELL II, L.L.C. 

K. HOVNANIAN AT NORTH CALDWELL III, L.L.C. 
 K. HOVNANIAN AT NORTH
CALDWELL IV, L.L.C. 
 K. HOVNANIAN AT NORTH HALEDON, L.L.C. 

K. HOVNANIAN AT NORTH WILDWOOD, L.L.C. 
 K. HOVNANIAN AT
NORTHAMPTON, L.L.C. 
 K. HOVNANIAN AT NORTHERN WESTCHESTER, INC. 

K. HOVNANIAN AT NORTHFIELD, L.L.C. 
 K. HOVNANIAN AT OCEAN
TOWNSHIP, INC. 
 K. HOVNANIAN AT OCEAN WALK, INC. 
 K.
HOVNANIAN AT OCEANPORT, L.L.C. 
 K. HOVNANIAN AT OLD BRIDGE, L.L.C. 

K. HOVNANIAN AT OLDE ORCHARD, LLC 
 K. HOVNANIAN AT PARK LANE, LLC

 K. HOVNANIAN AT PARKSIDE, LLC 
 K. HOVNANIAN AT PARSIPPANY,
L.L.C. 
 K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C. 
 K.
HOVNANIAN AT PAVILLION PARK, LLC 
 K. HOVNANIAN AT PIAZZA D’ORO, L.L.C. 

K. HOVNANIAN AT PIAZZA SERENA, L.L.C. 
 K. HOVNANIAN AT
PITTSGROVE, L.L.C. 
 K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C. 

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C. 
 K.
HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C. 
 K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C. 

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C. 
 K.
HOVNANIAN AT POSITANO, LLC 
 K. HOVNANIAN AT PRADO, L.L.C. 
 K.
HOVNANIAN AT RANCHO SANTA MARGARITA, LLC 
 K. HOVNANIAN AT RANDOLPH I, L.L.C. 

K. HOVNANIAN AT RAPHO, L.L.C. 
 K. HOVNANIAN AT RESERVES AT
WHEATLAND, LLC 
 K. HOVNANIAN AT RIDGEMONT, L.L.C. 
 K.
HOVNANIAN AT RIVERBEND, LLC 
 K. HOVNANIAN AT RODERUCK, L.L.C. 

  
 R-14 

 K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C. 

K. HOVNANIAN AT SAGE, L.L.C. 
 K. HOVNANIAN AT SANTA NELLA, LLC

 K. HOVNANIAN AT SAWMILL, INC. 
 K. HOVNANIAN AT SAYREVILLE,
L.L.C. 
 K. HOVNANIAN AT SCOTCH PLAINS, L.L.C. 
 K. HOVNANIAN
AT SEASONS LANDING, LLC 
 K. HOVNANIAN AT SHELDON GROVE, LLC 

K. HOVNANIAN AT SHREWSBURY, LLC 
 K. HOVNANIAN AT SILVER SPRING,
L.L.C. 
 K. HOVNANIAN AT SKYE ISLE, LLC 
 K. HOVNANIAN AT
SMITHVILLE, INC. 
 K. HOVNANIAN AT SOMERS POINT, L.L.C. 
 K.
HOVNANIAN AT SOUTH BRUNSWICK II, LLC 
 K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C. 

K. HOVNANIAN AT STANTON, LLC 
 K. HOVNANIAN AT STATION SQUARE,
L.L.C. 
 K. HOVNANIAN AT SUNRIDGE PARK, LLC 
 K. HOVNANIAN AT
SYCAMORE, INC. 
 K. HOVNANIAN AT THE CROSBY, LLC 
 K. HOVNANIAN
AT THE GABLES, LLC 
 K. HOVNANIAN AT THE MONARCH, L.L.C. 
 K.
HOVNANIAN AT THE PRESERVE, LLC 
 K. HOVNANIAN AT THOMPSON RANCH, LLC 

K. HOVNANIAN AT THORNBURY, INC. 
 K. HOVNANIAN AT TRAIL RIDGE, LLC

 K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP II, L.L.C. 
 K.
HOVNANIAN AT UPPER FREEHOLD TOWNSHIP III, L.L.C. 
 K. HOVNANIAN AT UPPER MAKEFIELD I, INC. 

K. HOVNANIAN AT UPPER PROVIDENCE, LLC 
 K. HOVNANIAN AT UPPER
UWCHLAN II, L.L.C. 
 K. HOVNANIAN AT UPPER UWCHLAN, L.L.C. 
 K.
HOVNANIAN AT VALLE DEL SOL, LLC 
 K. HOVNANIAN AT VERONA ESTATES, LLC 

K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C. 
 K. HOVNANIAN AT
VICTORVILLE, L.L.C. 
 K. HOVNANIAN AT VINELAND, L.L.C. 
 K.
HOVNANIAN AT VISTA DEL SOL, L.L.C. 
 K. HOVNANIAN AT WALDWICK, LLC 

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C. 
 K. HOVNANIAN AT
WASHINGTON, L.L.C. 
 K. HOVNANIAN AT WATERSTONE, LLC 
 K.
HOVNANIAN AT WAYNE IX, L.L.C. 
 K. HOVNANIAN AT WAYNE, VIII, L.L.C. 

  
 R-15 

 K. HOVNANIAN AT WEST VIEW ESTATES, L.L.C. 

K. HOVNANIAN AT WEST WINDSOR, L.L.C. 
 K. HOVNANIAN AT WESTSHORE,
LLC 
 K. HOVNANIAN AT WHEELER RANCH, LLC 
 K. HOVNANIAN AT
WILDWOOD BAYSIDE, L.L.C. 
 K. HOVNANIAN AT WILLOW BROOK, L.L.C. 

K. HOVNANIAN AT WINCHESTER, LLC 
 K. HOVNANIAN AT WOODCREEK WEST,
LLC 
 K. HOVNANIAN AT WOOLWICH I, L.L.C. 
 K. HOVNANIAN
CAMBRIDGE HOMES, L.L.C. 
 K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C. 

K. HOVNANIAN CLASSICS, L.L.C. 
 K. HOVNANIAN COMMUNITIES, INC.

 K. HOVNANIAN COMPANIES OF CALIFORNIA, INC. 
 K. HOVNANIAN
COMPANIES OF MARYLAND, INC. 
 K. HOVNANIAN COMPANIES OF NEW YORK, INC. 

K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC. 
 K. HOVNANIAN
COMPANIES OF SOUTHERN CALIFORNIA, INC. 
 K. HOVNANIAN COMPANIES, LLC 

K. HOVNANIAN CONSTRUCTION II, INC 
 K. HOVNANIAN CONSTRUCTION III,
INC 
 K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC. 
 K. HOVNANIAN
CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C. 
 K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC. 

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF D.C., INC. 
 K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC. 

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF ILLINOIS, INC. 
 K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC. 

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF MINNESOTA, INC. 
 K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC. 

K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF NEW YORK, INC. 
 K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC. 

K. HOVNANIAN DEVELOPMENTS OF OHIO, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF PENNSYLVANIA, INC. 
 K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC. 

K. HOVNANIAN DEVELOPMENTS OF TEXAS, INC. 
 K. HOVNANIAN
DEVELOPMENTS OF VIRGINIA, INC. 
 K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC. 

K. HOVNANIAN DFW BELMONT, LLC 
 K. HOVNANIAN DFW RIDGEVIEW, LLC

  
 R-16 

 K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C. 

K. HOVNANIAN EDGEBROOK, LLC 
 K. HOVNANIAN ESTATES AT REGENCY,
L.L.C. 
 K. HOVNANIAN FIRST HOMES, L.L.C. 
 K. HOVNANIAN
FLORIDA REALTY, L.L.C. 
 K. HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, LLC 

K. HOVNANIAN FOUR SEASONS AT GOLD HILL, LLC 
 K. HOVNANIAN GREAT
WESTERN BUILDING COMPANY, LLC 
 K. HOVNANIAN GREAT WESTERN HOMES, LLC 

K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C. 
 K. HOVNANIAN
HIDDEN HOLLOW, LLC 
 K. HOVNANIAN HOLDINGS NJ, L.L.C. 
 K.
HOVNANIAN HOMES — DFW, L.L.C. 
 K. HOVNANIAN HOMES AT CAMERON STATION, LLC 

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C. 
 K. HOVNANIAN HOMES AT
CREEKSIDE, LLC 
 K. HOVNANIAN HOMES AT FAIRWOOD, L.L.C. 
 K.
HOVNANIAN HOMES AT FOREST RUN, L.L.C. 
 K. HOVNANIAN HOMES AT GREENWAY FARM PARK TOWNS, L.L.C. 

K. HOVNANIAN HOMES AT GREENWAY FARM, L.L.C. 
 K. HOVNANIAN HOMES
AT JONES STATION 1, L.L.C. 
 K. HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C. 

K. HOVNANIAN HOMES AT REEDY CREEK, LLC 
 K. HOVNANIAN HOMES AT
RENAISSANCE PLAZA, L.L.C. 
 K. HOVNANIAN HOMES AT RUSSETT, L.L.C. 

K. HOVNANIAN HOMES AT ST. JAMES PLACE, LLC 
 K. HOVNANIAN HOMES AT
THE HIGHLANDS, LLC 
 K. HOVNANIAN HOMES AT THE PADDOCKS, LLC 

K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC. 
 K. HOVNANIAN HOMES
OF D.C., L.L.C. 
 K. HOVNANIAN HOMES OF DELAWARE, L.L.C. 
 K.
HOVNANIAN HOMES OF GEORGIA, L.L.C. 
 K. HOVNANIAN HOMES OF HOUSTON, L.L.C. 

K. HOVNANIAN HOMES OF LONGACRE VILLAGE, L.L.C. 
 K. HOVNANIAN
HOMES OF MARYLAND, L.L.C. 
 K. HOVNANIAN HOMES OF MINNESOTA, L.L.C. 

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC. 
 K. HOVNANIAN HOMES OF
PENNSYLVANIA, L.L.C. 
 K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC 

K. HOVNANIAN HOMES OF VIRGINIA, INC. 
 K. HOVNANIAN HOMES OF WEST
VIRGINIA, L.L.C. 
 K. HOVNANIAN INDIAN TRAILS, LLC 
 K.
HOVNANIAN LADUE RESERVE, LLC 
 K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC 

  
 R-17 

 K. HOVNANIAN MANALAPAN ACQUISITION, LLC 

K. HOVNANIAN MONARCH GROVE, LLC 
 K. HOVNANIAN NORTH CENTRAL
ACQUISITIONS, L.L.C. 
 K. HOVNANIAN NORTH JERSEY ACQUISITIONS, L.L.C. 

K. HOVNANIAN NORTHEAST SERVICES, L.L.C. 
 K. HOVNANIAN OF HOUSTON
II, L.L.C. 
 K. HOVNANIAN OHIO REALTY, L.L.C. 
 K. HOVNANIAN
OSTER HOMES, L.L.C. 
 K. HOVNANIAN PA REAL ESTATE, INC. 
 K.
HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C. 
 K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC. 

K. HOVNANIAN PROPERTIES OF RED BANK, INC. 
 K. HOVNANIAN
RIVENDALE, LLC 
 K. HOVNANIAN SCHADY RESERVE, LLC 
 K.
HOVNANIAN SHORE ACQUISITIONS, L.L.C. 
 K. HOVNANIAN SOUTH FORK, LLC 

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C. 
 K. HOVNANIAN
SOUTHERN NEW JERSEY, L.L.C. 
 K. HOVNANIAN STERLING RANCH, LLC 

K. HOVNANIAN SUMMIT HOLDINGS, L.L.C. 
 K. HOVNANIAN SUMMIT HOMES
OF KENTUCKY, L.L.C. 
 K. HOVNANIAN SUMMIT HOMES OF PENNSYLVANIA, L.L.C. 

K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C. 
 K. HOVNANIAN
SUMMIT HOMES, L.L.C. 
 K. HOVNANIAN T&C HOMES AT FLORIDA, L.L.C. 

K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C. 
 K. HOVNANIAN
TIMBRES AT ELM CREEK, LLC 
 K. HOVNANIAN VENTURE I, L.L.C. 
 K.
HOVNANIAN WATERBURY, LLC 
 K. HOVNANIAN WHITE ROAD, LLC 
 K.
HOVNANIAN WINDWARD HOMES, LLC 
 K. HOVNANIAN WOODLAND POINTE, LLC 

K. HOVNANIAN’S FOUR SEASONS AT BAKERSFIELD, L.L.C. 
 K.
HOVNANIAN’S FOUR SEASONS AT BEAUMONT, LLC 
 K. HOVNANIAN’S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT HEMET, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT KENT ISLAND CONDOMINIUMS, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT KENT ISLAND, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT LOS BANOS, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT MORENO VALLEY, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS AT PALM SPRINGS, LLC 
 K.
HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C. 

  
 R-18 

 K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK II, LLC 

K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK, L.L.C. 
 K.
HOVNANIAN’S FOUR SEASONS AT SILVER MAPLE FARM, L.L.C. 
 K. HOVNANIAN’S FOUR SEASONS AT ST. MARGARETS LANDING, L.L.C. 

K. HOVNANIAN’S FOUR SEASONS, LLC 
 K. HOVNANIAN’S
PARKSIDE AT TOWNGATE, L.L.C. 
 KHIP, L.L.C. 
 LANDARAMA, INC.

 M&M AT CHESTERFIELD, LLC 
 M&M AT CRESCENT COURT,
L.L.C. 
 M&M AT WEST ORANGE, L.L.C. 
 M&M AT WHEATENA
URBAN RENEWAL, L.L.C. 
 MATZEL & MUMFORD AT EGG HARBOR, L.L.C. 

MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C. 

MCNJ, INC. 
 MIDWEST BUILDING PRODUCTS & CONTRACTOR
SERVICES OF PENNSYLVANIA, L.L.C. 
 MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST VIRGINIA, L.L.C. 

MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C. 

MMIP, L.L.C. 
 NEW LAND TITLE AGENCY, L.L.C. 

PADDOCKS, L.L.C. 
 PARK TITLE COMPANY, LLC 

PINE AYR, LLC 
 RIDGEMORE UTILITY, L.L.C. 

SEABROOK ACCUMULATION CORPORATION 
 STONEBROOK HOMES, INC. 

TERRAPIN REALTY, L.L.C. 
 THE MATZEL & MUMFORD
ORGANIZATION, INC 
 WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C. 

WASHINGTON HOMES, INC. 
 WESTMINSTER HOMES, INC. 

WH PROPERTIES, INC 
 WOODLAND LAKE CONDOMINIUMS AT BOWIE NEW TOWN,
L.L.C. 

  
 R-19 

 
			
		
	By:	 	 
		 	 Name: 
 Title:   Authorized
Officer

 This Guarantee relates to K. Hovnanian Enterprises, Inc. 6.25% Senior Notes due 2016– CUSIP No.: 442488AY8 

  
 R-20EX-10.7

 Exhibit 10.7 
 RETENTION AGREEMENT 
 This Retention Agreement (the “Agreement”) is entered into
as of the 19th day of August, 2013, by and between David N. Vander Ploeg (“Executive”) and School Specialty, Inc. (the “Company”) (Executive and the Company sometimes referred to herein, collectively, as the “Parties”).

 WHEREAS, Executive has been employed by the Company pursuant to the terms of the Employment Agreement between the Company and Executive,
dated April 21, 2008 (the “Employment Agreement”). (Capitalized terms used, but not defined herein, shall have the meaning assigned to them in the Employment Agreement); 
 WHEREAS, Executive has notified the Company of his intention to retire and the Parties desire to effect an orderly transition of Executive’s duties and responsibilities; 

WHEREAS, the Company desires to enter into this Agreement with Executive to encourage Executive to remain employed with the Company through
December 31, 2013; 
 WHEREAS, as a condition of the Company making certain payments and providing certain benefits, the Parties have
agreed to execute and comply fully with the terms of this Agreement. 
 NOW THEREFORE, in consideration of the foregoing, the payments to be
made and benefits provided and other good and valuable consideration, the Parties agree as follows: 
 1. Retention and Separation. 

a. The Parties agree that Executive’s last day of employment shall be December 31, 2013 (the date of this Agreement through Executive’s
date of separation of employment, the “Retention Period”); provided, however, the Company may, at its sole discretion, upon written notice to Executive accept Executive’s resignation so that it is effective at any time during the
Retention Period. The date that Executive’s employment actually ends will be his separation date (the “Separation Date”). 
 b.
During the Retention Period, Executive will continue (i) to report to the Board and the Interim Chief Executive Officer (or any successor) and (ii) to perform his current duties and responsibilities, including but not limited to,
cooperating with respect to any regulatory or similar filings of the Company, and such other duties and responsibilities commensurate with his position as may be reasonably assigned to him and otherwise assist the Company in the transition of his
duties and responsibilities. 
 c. Effective as of the Separation Date, Executive hereby resigns from each and every office, directorship and
any other position that Executive held with the Company and the Related Companies, including, but not limited to, Executive’s position as Chief Financial Officer of the Company. Also effective as of the Separation Date, Executive further
renounces all signatory authority he possesses on behalf of the Company and any Related Companies. Although the foregoing is effective without any further action on the part of Executive, Executive agrees to execute any documents requested by the
Company as necessary or appropriate to effectuate such actions. 

 2. Compensation and Benefits. 
 a. All of the compensation and benefits that Executive receives as part of his employment will cease as of the Separation Date, except as otherwise set forth in this Agreement, or as otherwise required by
law. Thereafter, Executive and/or Executive’s dependents may continue Executive’s group benefits at his and/or their expense, subject to Paragraph 3.a. (ii) below, as provided by the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended (“COBRA”). Under separate cover, Executive will receive a personalized COBRA packet and other benefit continuation information. 
 b. Executive shall be paid any unpaid base salary through the Separation Date, payment of any accrued paid time off under the Company’s paid time off policy that is unused through the Separation Date
and reimbursement of business expenses to which Executive may be entitled (the “Accrued Benefits”). 
 3. Retention Benefits.

 a. If Executive remains employed through December 31, 2013 and remains in continued compliance with the terms of this Agreement, the
Company shall, subject to Paragraph 3.d below, pay to Executive a retention bonus equal $200,000 (less applicable withholdings and deductions), payable in a lump sum as provided in Paragraph 3.d. below (the “Retention Bonus”).
Notwithstanding the foregoing, in the event the Company has, in accordance with Paragraph 1.a, provided for an earlier Separation Date (and Executive has not committed an act constituting Cause prior to such date), the Company shall, subject to
Paragraph 3.d below, pay Executive the Retention Bonus, payable in a lump sum as provided in Paragraph 3.d below. 
 b. In addition, if the
Company has, in accordance with Paragraph 1.a, provided for an earlier Separation Date (and Executive has not committed an act constituting Cause prior to such date), Executive shall, subject to Paragraph 3.d. below, be entitled to an amount equal
to the amount of Base Salary that would have been paid to him by the Company from the Separation Date through December 31, 2013 if Executive had remained employed by the Company, less applicable withholdings and deductions, (the “Severance
Payment”) payable as provided in Paragraph 3.d. below. The Retention Bonus and Severance Payment described in Paragraph 3.a and 3.b respectively, shall collectively be referred to herein as the “Retention Benefits.” If the Company
elects to provide for an earlier Separation Date (and Executive has not committed an act constituting Cause prior to such date), the Company will either continue Executive on the payroll for purposes of continuing his group benefits, or, pay the
cost of his COBRA coverage for such benefits through December 31, 2013. 
 c. The Retention Benefits do not constitute earnings or wages
for purposes of any Company benefit plan. Executive will receive an IRS Form W-2 with respect to the Retention Benefits. Executive acknowledges that he would not have received the Retention Benefits, payments and benefits to which the Executive is
not otherwise entitled, if he did not enter into this Agreement and the Executive General Release. 
 d. Payment of the Retention Benefits shall
be made on January 10, 2014, provided that prior to such date Executive delivers to the Company an executed General Release in the form attached as Exhibit A (the “Executive General Release”) and this Agreement and the Executive
General Release have become effective and irrevocable in accordance with their respective terms. 

  
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 4. Survival of Articles IV, V, VI, VII, VIII, IX, and X. The Parties acknowledge and agree that their
respective rights and/or obligations under Article IV, Confidentiality, Article V, Non-Competition, Article VI, Business Idea Rights, Article VII, Non-Solicitation of Employees, Article VIII, Executive Disclosures and Acknowledgements, Article IX,
Return of Records, Article X, and Article X, Miscellaneous, of the Employment Agreement survive the execution of this Agreement, the Executive General Release, the termination of the Employment Agreement and the termination of Executive’s
employment with the Company. The Parties further acknowledge and agree that all such terms remain in full force and effect and are not modified, amended or released in any way. The Parties hereby amend Section 10.1, Notice, of the Employment
Agreement, as follows: 
 To the Company: 
 School Specialty, Inc. 
 W6316 Design Drive 

P.O. Box 1579 
 Appleton, WI 54912-1579

 Attention: Board of Directors of the Company 
 Fax: 920.882.5863 
 Email: jimhenderson@schoolspecialty.com 

With a copy to: 
 Brett Lawrence 

Stroock & Stroock & Lavan LLP 

180 Maiden Lane 
 New York, NY 10038-4982

 Fax: 1-212-806-1222 
 E-mail:
blawrence@stroock.com 
 To Executive: 

David N. Vander Ploeg 
 2936 Foxford Drive

 Green Bay, WI 54313 
 Email:
vanderploeg.dave@gmail.com 
 With a copy to: 
 Katherine L. Charlton 
 Hawks Quindel, S.C. 

P.O. Box 442 
 Milwaukee, WI 53201-0442

 kcharlton@hq-law.com 
 5.
Assistance. Executive agrees that after the Separation Date, upon reasonable notice and provided the requests for services are reasonable, Executive will provide transition services to the Company and assist the Company’s Interim Chief
Executive Officer (or any successor). For 

  
 3 

 
avoidance of doubt, Executive shall not perform any such services unless requested by the Board or the Company’s Interim Chief Executive Officer (or any successor). In addition, Executive
agrees that, upon the request by the Company, Executive will assist the Company and its affiliates in the defense of any claims, or potential claims that may be made or threatened to be made against them in any action, suit or proceeding, whether
civil, criminal, administrative, investigative or otherwise (a “Proceeding”), and will assist the Company and its affiliates in the prosecution of any claims that may be made by the Company in any Proceeding, to the extent that such claims
may relate to Executive’s employment or to events or acts occurring during the period of Executive’s employment by the Company. Executive agrees, unless precluded by law, to promptly inform the Company if the Executive is asked to
participate (or otherwise become involved) in any Proceeding involving such claims or potential claims. Executive also agrees, unless precluded by law, to promptly inform the Company if the Executive is asked to assist in any investigation (whether
governmental or otherwise) of the Company or any of its affiliates (or their actions), regardless of whether a lawsuit has then been filed against the Company or its affiliates with respect to such investigation. The Company agrees to reimburse
Executive for all of Executive’s pre-approved reasonable, documented and out-of-pocket expenses associated with such assistance. Any services or assistance contemplated in this Paragraph 5 shall be at mutually agreed upon and convenient times.
Executive shall be an independent contractor with respect to such services and the Company shall issue an IRS Form 1099 to Executive for any fees paid pursuant to this Paragraph 5. The Executive and the Company may elect to engage in an ongoing
consulting arrangement. If they do so, they will then negotiate the specific terms. 
 6. Miscellaneous. 

a. Entire Agreement; Amendment. Executive acknowledges that in executing this Agreement he has not relied on any statements, promises or representations
made by the Company and/or Company Released Parties (as that term is defined in the Executive General Release) except as specifically memorialized in this Agreement. This Agreement contains the complete agreement of the Parties in any way related to
Executive’s employment and separation from employment and the subject matter addressed in it, and it supersedes and cancels all other, previous agreements or understandings between the Parties, including the Employment Agreement (except as
provided in Paragraph 4 above). This Agreement cannot be modified or rescinded except upon the written consent signed by both Executive and an officer of the Company. 
 b. Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable, such provision shall be considered to be distinct and severable from the other
provisions of this Agreement, and such unenforceability shall not affect the validity and enforceability of the remaining provisions. If any provision of this Agreement is so held to be unenforceable as written but may be made enforceable by
limitation, then such provision shall be enforceable to the maximum extent permitted by applicable law. The language of all parts of this Agreement shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or
against any of the Parties. 
 c. No Admission of Liability. Neither this Agreement, the Executive General Release, nor the furnishing of the
Retention Benefits shall be deemed or construed at any time for any purpose as an admission by Executive, the Company or any Company Released Party of any liability or unlawful or wrongful conduct of any kind. 

  
 4 

 d. Binding Effect; Assignment. This Agreement shall be binding on the Company and Executive and their legal
representatives, successors and assigns, agents, administrators, executives and heirs. It shall inure to the benefit of the Company and Executive, to the Company’s successors and assigns, its Affiliates, its third party beneficiaries, and to
Executive’s heirs. This Agreement shall not be assignable by Executive and Executive may not assign, transfer or subcontract his responsibilities hereunder; provided, however, Executive may assign his right to receive any payments hereunder.

 e. Governing Law; Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by the laws of the State of Wisconsin without
reference to its conflicts of laws provisions. Each Party agrees that the appropriate state and federal courts in Wisconsin shall have exclusive jurisdiction of any disputes arising out of, concerning or relating, directly or indirectly, to this
Agreement, or any other dispute between the Parties and each hereby consents to and waives any objection to, the venue and jurisdiction of such courts. EACH PARTY HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIM, COUNTERCLAIM, SETOFF, DEMAND
ACTION OR CAUSE OF ACTION WHATSOEVER BETWEEN THEM, INCLUDING, WITHOUT LIMITATION, THOSE ARISING OUT OF, CONCERNING OR RELATING, DIRECTLY OR INDIRECTLY, TO THIS TRANSITION AGREEMENT OR ANY OTHER DISPUTE BETWEEN THE PARTIES. 

Section 409A. This Agreement, and the payments and benefits hereunder, are intended to be exempt from taxation under Section 409A of the
Internal Revenue Code of 1986, as amended, and the regulations and guidance promulgated thereunder (“Section 409A”). Each amount or benefit payable pursuant to this Agreement shall be deemed a separate payment for purposes of
Section 409A. Any and all payments under this Agreement shall be paid or provided no later than March 15, 2014. Any ambiguity in this Agreement shall be interpreted to comply with the foregoing. Notwithstanding the foregoing, the Company
makes no representations regarding the treatment of any payments or benefits hereunder and the Company shall not be liable to, and Executive shall be solely liable and responsible for, any taxes or penalties that may be imposed on Executive under
Section 409A with respect to Executive’s receipt of payments or benefits hereunder. 
 7. Waiver. A failure by any party to enforce at
any time or over a period of time, any provision of this Agreement shall not be construed to be a waiver of such provision or of any other provision of this Agreement. 
 8. Facsimile and Electronic Signatures, Execution in Parts & Headings. Signatures transmitted by facsimile or electronically in the form of a PDF file are deemed to be originals and this
Agreement may be executed in counterparts, each of which together shall constitute one and the same instrument. The headings used in this Agreement are intended only for the convenience of the parties and shall not in any way add to, limit or
otherwise be used in the interpretation of this Agreement. 
 [Remainder of Page Blank] 

  
 5 

 9. No Future Compensation. By entering into this Agreement, Executive acknowledges that (i) he waives
any claim to reinstatement and/or future employment with the Company, (ii) to the extent he may seek or apply for future employment with the Company, any failure by the Company to hire or rehire Executive shall not constitute retaliation, and
(iii) Executive is not and shall not be entitled to any payments, compensation, benefits, or other obligations from the Company and/or Company Released Parties of any nature whatsoever (except as expressly set forth herein). 

SCHOOL SPECIALTY, INC. 
 By: /s/ James
Henderson 
 Name: James Henderson 

Title: Interim CEO 8/19/2013 
 Date: 

/s/ David N. Vander Ploeg 
 David N. Vander
Ploeg 
 Date: 8/19/13 

  
 6 

 EXHIBIT A 
 EXECUTIVE GENERAL RELEASE 
 WHEREAS, I, David N. Vander Ploeg, on the one hand, and School
Specialty, Inc. (the “Company”) on the other hand, entered into a Retention and Separation Agreement, dated August __, 2013 (the “Agreement”) (Capitalized terms used, but not defined herein, shall have the meanings assigned to
them in the Employment Agreement or the Agreement); 
 WHEREAS, as a condition of the Company performing its obligations as provided in the
Agreement, I, David N. Vander Ploeg, have agreed to execute and comply fully with the terms and provisions of the Agreement; and 
 WHEREAS, the
Agreement provides that I, David N. Vander Ploeg, will execute and comply fully with the terms and conditions of the Executive General Release herein; 
 NOW, THEREFORE, in consideration of the foregoing, and the Retention Benefits and other good and valuable consideration to which I am not otherwise entitled, I, David N. Vander Ploeg, hereby agree as
follows: 
 I, David N. Vander Ploeg, for myself and my heirs and assigns, hereby voluntarily, knowingly and irrevocably release and forever
discharge the Company and its Affiliates and their respective predecessors, successors and assigns, and their respective present, former, and future officers, directors, shareholders, partners, principals, participants, investors (including, without
limitation, all funds and/or accounts that are owned, controlled, or affiliated with the following entities: Zazove Associates, LLC, Angelo, Gordon & Co., L.P. Davis Selected Advisers, L.P., Steel Excel Inc., Wolverine Asset Management, J.
Goldman & Co., L.P., L.P., Scoggin LLC and, BulwarkBay Investment Group LLC), trustees, employees, agents, administrators, representatives, attorneys, members, insurers or fiduciaries, in both their individual and representative capacities,
(collectively, the “Company Released Parties”), from all actions, claims, demands, causes of action, obligations, damages, liabilities, expenses and controversies of any nature and description whatsoever, including attorneys’ fees and
costs (collectively, “Claims”), whether or not now known, suspected or claimed, which I, David N. Vander Ploeg, had, have, or may have, against any of the Company Released Parties from the beginning of time up to and including the date I,
David N. Vander Ploeg, sign this Executive General Release, including but not limited to, any Claims that arise out of, relate to or are based on (i) my employment by the Company and/or separation therefrom, including, without limitation, under
any federal, state or local law, regulation or ordinance including, without limitation, any having any bearing whatsoever on the terms and conditions of my employment and/or the termination thereof, (ii) statements, acts or omissions by the
Company and/or other Company Released Parties, (iii) express or implied agreements, whether oral or written, between me, David N. Vander Ploeg, and the Company and/or other Company Released Parties, including, but not limited to, the Employment
Agreement and any offers or term sheets; (iv) any federal, state or local fair employment practices or civil rights laws including, but not limited to, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the
Older Workers Benefit Protection Act, the Family and Medical Leave Act, the Worker Adjustment Retraining and Notification Act, the Americans with Disabilities Act, the Sarbanes-Oxley Act, the 

  
 7 

 
Employee Retirement Income Security Act of 1974, the Wisconsin Fair Employment Law, each as may be amended, which, among other things, prohibit discrimination on such bases as race, color,
religion, creed, national origin, ancestry, family and/or medical leave, sex/gender, sexual harassment, sexual orientation, genetic information or testing, uniformed or military service, retaliation, whistleblowing, protected activity, mental or
physical disability, age, or marital status, (v) common law, public policy, breach of contract or tort, including, without limitation, Claims for emotional distress, libel, slander or wrongful discharge, or (vi) wages, commissions,
bonuses, notice, notice pay, accrued vacation, paid time off or holiday pay, employee benefits, expenses, equity awards, allowances and any other payments or compensation of any kind whatsoever; provided, however, the foregoing will not
(A) prevent me from bringing any claim seeking enforcement of the Agreement or the Company General Release, (B) release any Claims that may not be waived pursuant to applicable law, (C) prevent me from bringing any future claims, if
any, (D) release any rights that I, David N. Vander Ploeg, may have to indemnification under the Company’s organizational documents or under any insurance policy, subject to the respective terms and limitations, providing directors’
and officers’ coverage applicable to me, then existing, for any lawsuit or claim relating to the period when I, David N. Vander Ploeg, was an employee of the Company or (E) release the Parties’ respective continuing rights and/or
obligations pursuant to Articles IV, Confidentiality; V, Non-Competition; VI, Business Idea Rights; VII, Non-Solicitation of Employees; VIII, Employee Disclosures and Acknowledgements; IX, Return of Records; X, and X, Miscellaneous of the Employment
Agreement. 
 I, David N. Vander Ploeg, represent that I have fully complied with my obligation set forth in Article IX, Return of Records, of
the Employment Agreement. 
 I, David N . Vander Ploeg, represent that no charges, complaints or actions of any kind have been filed by me or on
my behalf against the Company or any Company Released Party with any court, agency or other tribunal. 
 I, David N. Vander Ploeg, expressly
consent that each and all of the provisions of this Executive General Release shall be given full force and effect with respect to unknown or unsuspected claims, demands and causes of action, if any. 

I, David N. Vander Ploeg, further affirm that no statements, representations or promises have been made to me to influence me to sign this Executive
General Release, except as stated in the Agreement and in this Executive General Release, and that I have signed this Executive General Release of my own free will, relying entirely upon my own judgment, on behalf of myself and each and every one of
my dependents, heirs, executors, administrators, personal and/or legal representatives and assigns. 
 I, David N. Vander Ploeg, acknowledge
that I may not sign this Agreement until on or after the Separation Date. 
 I, David N. Vander Ploeg, further affirm that I have read this
Executive General Release and have had up to twenty-one (21) days to consider its terms and effects and to ask any questions that I may have of anyone (including legal counsel of my own choosing), that I have consulted with my own counsel, and
that I have signed this Executive General Release knowingly, voluntarily and with full understanding of its terms and effects. 

  
 8 

 I, David N. Vander Ploeg further acknowledge that I have been advised that I may revoke this Executive
General Release within seven (7) days of execution (the “Revocation Period”). I also understand that this Executive General Release will not become effective if I exercise my right to revoke my signature within the Revocation Period
by hand delivering or sending via overnight mail a written notice of revocation to the Company as set forth in Section 10.1 of Employment Agreement, as amended by the Agreement. I also understand that if I do not revoke this Executive General
Release within the Revocation Period, this Executive General Release shall become final and binding and I shall have no further right of revocation. 
 I, David N. Vander Ploeg, further affirm that no fact, evidence, event or transaction currently unknown to me but which hereafter may become known to me shall affect in any way or manner the final and
unconditional nature of this Executive General Release. 
 [Remainder of Page Blank] 

  
 9 

 This Executive General Release will be governed by and construed in accordance with the laws of the State of
Wisconsin. If any provision in this Executive General Release is held invalid or unenforceable for any reason, the remaining provisions shall be construed as if the invalid or unenforceable provision had not been included. A signature transmitted by
facsimile or electronically in the form of a PDF file is deemed to be an original. 
 Acknowledged and Agreed: 

David N. Vander Ploeg 
  
 STATE OF             ) 
 ):ss.:

 COUNTY OF             ) 

On the      day of
                        , 2013, before me personally appeared David N. Vander Ploeg, to me known and known to me to be the
individual described in, and who duly acknowledged to me that he executed the foregoing Executive General Release. 
 Notary Public 

  
 10

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