Document:

Fifth Supplemental Indenture

 Exhibit 4.5 
 FIFTH SUPPLEMENTAL INDENTURE 
 by and among 

STANDARD PACIFIC CORP., as Issuer 
 the GUARANTORS party hereto 
 and 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 

 
  

Dated as of December 22, 2010 
  

 
 Supplemental to
Indenture 
 Dated as of April 10, 2002 

 
  

Amending Certain Provisions of the 
 9 1/4%
Senior Subordinated Notes due 2012 
  

 

 This Fifth Supplemental Indenture, dated as of December 22, 2010 (this
“Fifth Supplemental Indenture”), is entered into among Standard Pacific Corp., a Delaware corporation (the “Company”), the guarantors listed on the signature pages hereto (the
“Guarantors”), and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to J.P. Morgan Trust Company, National Association and Bank One Trust Company, N.A.), as trustee (the
“Trustee”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Indenture (as defined below). 

WITNESSETH: 
 WHEREAS, this Fifth Supplemental Indenture supplements and amends the indenture dated as of April 10, 2002 (the “Original Indenture”), by and between the Company and Bank One
Trust Company, N.A., as Trustee (the “Original Trustee”), which was previously supplemented by the First Supplemental Indenture dated as of April 10, 2002 (the “First Supplemental Indenture”) by
and between the Company and the Original Trustee which established the terms of the Company’s outstanding 9 1/4% Senior Subordinated Notes due 2012 (the “Notes”), the Second Supplemental Indenture dated as of February 22, 2006 (the “Second Supplemental
Indenture”) by and among the Company, the Original Trustee and the guarantors party thereto which provided for the guarantee of the Notes, the Third Supplemental Indenture dated as of September 24, 2007 by and among the
Company, the guarantors party thereto and the Trustee and the Fourth Supplemental Indenture, dated as of June 26, 2008 (the “Fourth Supplemental Indenture”; the Original Indenture as amended and supplemented by the First
Supplemental Indenture and the Fourth Supplemental Indenture is referred to herein as the “Indenture”), by and among the Company, the guarantors party thereto and the Trustee, which amended certain terms of the Notes;

 WHEREAS, the Company has commenced a tender offer (the “Tender Offer”) to holders of the
Notes, as well as certain other outstanding series of the Company’s notes, upon the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated November 23, 2010, as amended and
supplemented from time to time; 
 WHEREAS, in connection with the Tender Offer, the Company has solicited from the holders of
the Notes consents (the “Consent Solicitation”) to the adoption of certain proposed amendments set forth in Section 1.01 hereof (the “Proposed Amendments”) to the First Supplemental Indenture and
Second Supplemental Indenture; 
 WHEREAS, under the terms of the Original Indenture, certain terms of the First Supplemental
Indenture, Second Supplemental Indenture and the Notes, including the Proposed Amendments, may be amended with the consent of holders of a majority of principal amount of the Notes (the “Requisite Consents”); 

WHEREAS, the Company has obtained the Requisite Consents to the Proposed Amendments pursuant to the Consent Solicitation; 

WHEREAS, the Company and the Guarantors desire to supplement and amend the Indenture to effect the Proposed Amendments; and 

WHEREAS, the Company and the Guarantors hereby certify that all covenants and conditions precedent, if any, provided for in the Indenture
relating to the execution, delivery and performance of this Fifth Supplemental Indenture have been complied with, and all things necessary to make this Fifth Supplemental Indenture a valid agreement of the Company, the Guarantors and the Trustee, in
accordance with its terms, and a valid amendment of, and supplement to, the Indenture have been done. 
 NOW, THEREFORE, the
parties hereto agree, as follows: 
 ARTICLE 1. 
 AMENDMENTS TO INDENTURE 
 Section 1.01 Amendments.
Subject to Section 2.01, the terms of the First Supplemental Indenture and Second Supplemental Indenture are hereby amended, supplemented, modified or deleted as follows. 

	 	(a)	The following sections of the First Supplemental Indenture and any corresponding provisions in the Notes are hereby deleted in their entirety and replaced with
“[Intentionally Omitted.]”: 

  

	 	•	 	 Section 4.03. Change of Control; 

  

	 	•	 	 Section 6.02. Limitation on Additional Indebtedness; 

 

	 	•	 	 Section 6.03. Limitation on Liens; 

  

	 	•	 	 Section 6.04. Limitation on Restricted Payments; 

 

	 	•	 	 Section 6.05. Limitation on Asset Sales; 

  

	 	•	 	 Section 6.06. Transactions with Affiliates; 

  

	 	•	 	 Section 6.07. Limitation on Payment Restrictions Affecting Restricted Subsidiaries; 

 

	 	•	 	 Section 6.08. Restricted and Unrestricted Subsidiaries; and 

 

	 	•	 	 Section 6.11. Future Subsidiary Guarantees. 

  

	 	(b)	Section 6.09 of the First Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the Notes
are hereby amended accordingly): 

 Section 6.09. Mergers and Sales of Assets by the Company

 The Company will not consolidate with, merge into or transfer all or substantially all of its assets to another person
unless such person (if other than the Company) is a corporation organized under the laws of the United States or any state thereof or the District of Columbia and expressly assumes all the obligations of the Company under the Indenture and the
Notes. 
  

	 	(c)	Section 7.01 of the First Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the Notes
are hereby amended accordingly): 

 Section 7.01. Additional Events of Default 

The Events of Default with respect to the Notes shall be the Events of Default as set forth in Section 6.01 of the
Original Indenture. 
  

	 	(d)	Clause (i) of Section 2.03 of the Second Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding
provisions of the Notes are hereby amended accordingly): 

 (i) the sale or disposition of a Guarantor (or all or
substantially all its assets or its Capital Stock) to an entity that is not, after giving effect to such transaction, a Subsidiary (other than a Subsidiary that has been designated as an Unrestricted Subsidiary under all other indentures to which
the Company is then a party that include provisions for designating Subsidiaries as Unrestricted Subsidiaries), 
  

	 	(e)	Clause (iii) of Section 2.03 of the Second Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding
provisions of the Notes are hereby amended accordingly): 

  
 2 

 (iii) the designation of any Guarantor as an Unrestricted Subsidiary under all other
indentures to which the Company is then a party that include provisions for designating Subsidiaries as Unrestricted Subsidiaries, 
  

	 	(f)	Any definition in the First Supplemental Indenture, Second Supplemental Indenture and Notes shall be deemed deleted if references to such definitions are eliminated as
a result of the amendments described herein; cross-references in the First Supplemental Indenture, Second Supplemental Indenture and Notes to provisions in the First Supplemental Indenture, Second Supplemental Indenture or Notes that have been
deleted as a result of the amendments described herein are hereby deleted; and any other changes to the First Supplemental Indenture, Second Supplemental Indenture and Notes of a technical or conforming nature shall hereby be deemed made to the
extent necessary to reflect the deletion of the provisions described herein. 

 Section 1.02 Release of
Obligations Under Certain Covenants. Subject to Section 2.01, the Company and the Guarantors may omit to comply with, and shall have no liability in respect of, any term, condition or limitation deleted pursuant to the Sections listed
in Section 1.01 hereof, whether directly or indirectly, by reason of any reference in the First Supplemental Indenture, Second Supplemental Indenture or other documents to any such Section or by reason of any reference in any such Section to
any other provision in the First Supplemental Indenture, Second Supplemental Indenture or in any other document, and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 of the Original Indenture,
Article 7 of the First Supplemental Indenture or Section 2.13 of the Second Supplemental Indenture. 
 ARTICLE 2.

 MISCELLANEOUS PROVISIONS 
 Section 2.01 Effective Date of this Fifth Supplemental Indenture. This Fifth Supplemental Indenture shall be effective as of the date first written above. The provisions of Article 1 of
this Fifth Supplemental Indenture will become effective upon (and only upon) acceptance for purchase by the Company of all validly tendered Notes in the Tender Offers and receipt of consents from at least a majority in principal amount of the Notes.

 Section 2.02 Governing Law. The laws of the State of New York shall govern this Fifth Supplemental
Indenture and the Notes. 
 Section 2.03 No Adverse Interpretation of Other Agreements. This Fifth
Supplemental Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan or debt agreement may not be used to interpret this Fifth Supplemental Indenture. 

Section 2.04 No Recourse Against Others. A director, officer, employee or stockholder, as such, of the Company shall
not have any liability for any obligations of the Company under the Notes or this Fifth Supplemental Indenture or for any claim based on, in respect of or by reason of, such obligations or their creation. 

Section 2.05 Successors and Assigns. All covenants and agreements of the Company in this Fifth Supplemental Indenture
and the Notes shall bind its successors and assigns. All agreements of the Trustee in this Fifth Supplemental Indenture shall bind its successors and assigns. 
 Section 2.06 Duplicate Originals. The parties may sign any number of copies of this Fifth Supplemental Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement. 
 Section 2.07 Severability. In case any one or more of the provisions
contained in this Fifth Supplemental Indenture or in the Notes (as amended hereby) shall for any reason be held to be invalid, 

  
 3 

 
illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of this Fifth Supplemental Indenture or the Notes. 

Section 2.08 Notices. Any order, consent, notice or communication shall be sufficiently given if in writing and
delivered in person or mailed by first class mail, postage prepaid, addressed as follows: 
 If to the Company or any Guarantor:

 c/o Standard Pacific Corp. 
 26 Technology Dr. 
 Irvine, California 92618 

Attn: Secretary 

Section 2.09 Amendment and Modification. This Fifth Supplemental Indenture may be amended, modified, or supplemented
only as permitted by the Indenture and by written agreement of each of the parties hereto. 
 Section 2.10
Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Fifth Supplemental Indenture or the Notes or for or in respect of the recitals contained herein or therein,
all of which recitals are made solely by the Company, and the Trustee assumes no responsibility for their correctness. 

[Remainder of Page Intentionally Left Blank] 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have executed this Fifth Supplemental Indenture by
their officers thereunto as of this 22nd day of December, 2010. 
  

					
	STANDARD PACIFIC CORP.
			
		 	    By:	 	 /s/ Kenneth L. Campbell

		 		 	Name: Kenneth L. Campbell
		 		 	Title: Chief Executive Officer
	
	BARRINGTON ESTATES, LLC
		 	By:	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
	
	LAGOON VALLEY RESIDENTIAL, LLC
		 	By:	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
	
	 STANDARD PACIFIC OF TONNER
 HILLS, LLC

		 	By:	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
		
	By:	 	 /s/ Kenneth L. Campbell

		 		 	Name: Kenneth L. Campbell
		 		 	Title: Chief Executive Officer

[Signature Page to Fifth Supplemental Indenture] 

  

					
	CH CONSTRUCTION, INC.
	
	CH FLORIDA, INC.
	
	HILLTOP RESIDENTIAL, LTD.
		 	BY:	 	  RESIDENTIAL ACQUISITION GP, LLC, ITS   GENERAL PARTNER
	
	HSP ARIZONA, INC.
	
	HWB CONSTRUCTION, INC.
	
	HWB INVESTMENTS, INC.
	
	RESIDENTIAL ACQUISITION GP, LLC
	
	SP COLONY INVESTMENTS, INC.
	
	SP COPPENBARGER INVESTMENTS, INC.
	
	STANDARD PACIFIC 1, INC.
	
	STANDARD PACIFIC OF ARIZONA, INC.
	
	STANDARD PACIFIC OF CENTRAL FLORIDA GP, INC.
	
	STANDARD PACIFIC OF CENTRAL FLORIDA
		 	BY:	 	   STANDARD PACIFIC OF
   CENTRAL FLORIDA GP, INC.,

	    	 		 	  ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF FLORIDA GP, INC.

 [Signature Page to Fifth Supplemental Indenture] 

  

					
	STANDARD PACIFIC OF JACKSONVILLE GP, INC.
	
	STANDARD PACIFIC OF JACKSONVILLE
	    	 	BY:    	 	 STANDARD PACIFIC OF JACKSONVILLE GP,
 INC., ITS GENERAL PARTNER

	
	STANDARD PACIFIC OF LAS VEGAS, INC.
	
	STANDARD PACIFIC OF ORANGE COUNTY, INC.
	
	STANDARD PACIFIC OF SOUTH FLORIDA GP, INC.
	
	STANDARD PACIFIC OF SOUTH FLORIDA
		 	BY:    	 	STANDARD PACIFIC OF SOUTH FLORIDA GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF SOUTHWEST FLORIDA GP, INC.
	
	STANDARD PACIFIC OF SOUTHWEST FLORIDA
		 	BY:    	 	STANDARD PACIFIC OF SOUTHWEST FLORIDA GP, INC.,
		 		 	ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF TAMPA GP, INC.
	
	STANDARD PACIFIC OF TAMPA
		 	BY:    	 	STANDARD PACIFIC OF TAMPA
		 		 	GP, INC., ITS GENERAL PARTNER
	STANDARD PACIFIC OF TEXAS, INC.
	
	STANDARD PACIFIC OF THE CAROLINAS, LLC

 [Signature Page to Fifth Supplemental Indenture] 

  

			
	STANDARD PACIFIC OF WALNUT HILLS, INC.
	
	WESTFIELD HOMES USA, INC.
		
	By:	 	 /s/ Kenneth L. Campbell

		 	        Name: Kenneth L. Campbell
		 	        Title: Chief Executive Officer

 [Signature Page to Fifth Supplemental Indenture] 

  

			
	STANDARD PACIFIC OF COLORADO, INC.
		
	By:	 	 /s/ John P. Moroney

		 	        Name: John P. Moroney
		 	        Title:   Chief Executive Officer & President

[Signature Page to Fifth Supplemental Indenture] 

  

					
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.
	as trustee
			
		 	By:	 	 /s/ Sharon McGrath

		 		 	Name: Sharon McGrath
		 		 	Title: Vice President

 [Signature
Page to Fifth Supplemental Indenture]Seventeenth Supplemental Indenture

 Exhibit 4.6 
 SEVENTEENTH SUPPLEMENTAL INDENTURE 
 by and among 

STANDARD PACIFIC CORP., as Issuer 
 the GUARANTORS party hereto 
 and 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee 

 
  

Dated as of December 22, 2010 
  

 
 Supplemental to
Indenture 
 Dated as of April 1, 1999 

 
  

Amending Certain Provisions of the 
 6 1/4%
Senior Notes due 2014 
 7% Senior Notes due 2015 

 
  

 STANDARD PACIFIC CORP. 

SEVENTEENTH SUPPLEMENTAL INDENTURE 
 This Seventeenth Supplemental Indenture, dated as of December 22, 2010 (this “Seventeenth Supplemental Indenture”), is entered into among Standard Pacific Corp., a Delaware
corporation (the “Company”), the guarantors listed on the signature pages hereto (the “Guarantors”), and The Bank of New York Mellon Trust Company, N.A. (as successor in interest to J.P. Morgan Trust
Company, National Association, Bank One Trust Company, N.A. and The First National Bank of Chicago), as trustee (the “Trustee”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed
to such terms in the applicable Indenture (as defined below). 
 WITNESSETH: 

WHEREAS, this Seventeenth Supplemental Indenture supplements the Indenture, dated as of April 1, 1999 (the
“Original Indenture”), by and between the Company and the Trustee, as previously supplemented by the First Supplemental Indenture dated as of April 13, 1999, the Second Supplemental Indenture dated as of
September 5, 2000, the Third Supplemental Indenture dated as of December 28, 2001, the Fourth Supplemental Indenture dated as of March 4, 2003, the Fifth Supplemental Indenture dated as of May 12, 2003, the Sixth Supplemental
Indenture dated as of September 23, 2003, the Seventh Supplemental Indenture dated as of March 11, 2004, the Eighth Supplemental Indenture dated as of March 11, 2004 (the “Eighth Supplemental Indenture”), which
established the terms of the Company’s outstanding 6  1/4 % Senior Notes due 2014 (the “2014 Notes”), the Ninth Supplemental Indenture dated as of August 1, 2005, the Tenth Supplemental Indenture dated as of August 1, 2005 (the
“Tenth Supplemental Indenture”), which established the terms of the Company’s outstanding 7% Senior Notes due 2015 (the “2015 Notes”), the Eleventh Supplemental Indenture dated as of
February 22, 2006 (the “Eleventh Supplemental Indenture;” the Original Indenture, together with the Eighth Supplemental Indenture and the Eleventh Supplemental Indenture are referred to herein collectively as the
“2014 Indenture;” the Original Indenture, together with the Tenth Supplemental Indenture and the Eleventh Supplemental Indenture are referred to herein collectively as the “2015 Indenture”, and each of
the 2014 Indenture and the 2015 Indenture are herein referred to as an “Indenture”), which provided for the guarantee of certain notes outstanding under the Original Indenture, including the 2014 Notes and the 2015 Notes, the
Twelfth Supplemental Indenture dated as of May 5, 2006, which provided for the pledge of certain assets to secure notes outstanding under the Original Indenture, including the 2014 Notes and the 2015 Notes, the Thirteenth Supplemental Indenture
dated as of October 8, 2009, the Fourteenth Supplemental Indenture dated as of May 3, 2010 (the “Fourteenth Supplemental Indenture”), the Fifteenth Supplemental Indenture dated as of the date hereof (the
“Fifteenth Supplemental Indenture”) and the Sixteenth Supplemental Indenture dated as of the date hereof (the “Sixteenth Supplemental Indenture”); 

WHEREAS, prior to the date hereof, (i) the 2014 Notes, 2015 Notes and each other outstanding series of Notes issued prior to the
date hereof pursuant to the Original Indenture, as supplemented, (ii) the Company’s outstanding 10.750% Senior Notes due 2016 (the “2016 Notes”) and (iii) the Company’s term loan B (the “Term
Loan”) outstanding pursuant to that certain Term Loan B Credit Agreement, dated as of May 5, 2006 among the Company, Bank of America, N.A., as administrative agent (in such capacity, the “Administrative
Agent”) and the lenders and other financial institutions party thereto, were secured by certain liens (the “Liens”) granted by the Pledgors (as defined below) pursuant to the terms of that certain Pledge
Agreement, dated as of May 5, 2006 (as amended and supplemented from time to time, the “Pledge Agreement”) by and between the Company, those subsidiaries of the Company party thereto from time to time (together with the
Company, the “Pledgors”) and Bank of America, N.A., as collateral agent for and representative of the creditors referenced therein (in such capacities, the “Collateral Agent”) and that certain
Collateral Agent and Intercreditor Agreement, dated as of May 5, 2006 (as amended and supplemented from time to time, the “Intercreditor Agreement”) by and among the Collateral Agent, the Company, those subsidiaries of
the Company party thereto from time to time and the creditor representatives party thereto from time to time; 
 WHEREAS, the
Company has commenced a tender offer (the “Tender Offer”) to holders of the 2014 Notes, 2015 Notes and another outstanding series of the Company’s notes, upon the terms and subject to the

 
conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated November 23, 2010, as amended and supplemented from time to time; 

WHEREAS, on the date hereof, pursuant to the Original Indenture as supplemented by the Fourteenth and Fifteenth
Supplemental Indentures, the Company has consummated the issuance of $275,000,000 of 8 3/8% Senior Notes due 2018 (the “2018 Notes”) and pursuant to the Original Indenture as supplemented by the Sixteenth Supplemental Indenture, the Company has consummated the issuance
of $400,000,000 8 3/8% Senior Notes due 2021 (the
“2021 Notes”); 
 WHEREAS, certain proceeds of the 2018 Notes and the 2021 Notes have been
used by the Company, on the date hereof, to repurchase certain of the 2014 Notes, 2015 Notes and another outstanding series of the Company’s notes pursuant to the Tender Offer and repay in full the Company’s Term Loan; 

WHEREAS, upon repayment of the Term Loan, pursuant to the terms of the Pledge Agreement and Intercreditor Agreement and pursuant to that
certain Letter re Payoff of Term Loan B Credit Agreement, dated December 22, 2010, by the Administrative Agent and Collateral Agent to the Company, the Liens were automatically released and terminated [and the Pledge Agreement and Intercreditor
Agreement were terminated]; 
 WHEREAS, in connection with the Tender Offer, the Company has solicited from the holders of the
2014 Notes consents (the “2014 Consent Solicitation”) to the adoption of certain proposed amendments set forth in Section 1.01 hereof (the “2014 Proposed Amendments”) to the Eighth Supplemental
Indenture; 
 WHEREAS, in connection with the Tender Offer, the Company has solicited from the holders of the 2015 Notes
consents (the “2015 Consent Solicitation”) to the adoption of certain proposed amendments set forth in Section 1.02 hereof (the “2015 Proposed Amendments”) to the Tenth Supplemental Indenture;

 WHEREAS, in connection with the Tender Offer, the Company has solicited from the holders of the 2014 Notes and 2015 Notes
consents (the “Guarantee Consent Solicitation,” and together with the 2014 Consent Solicitation and the 2015 Consent Solicitation, the “Consent Solicitation”) to the adoption of certain proposed
amendments set forth in Section 1.03 hereof (the “Guarantee Proposed Amendments,” and together with the 2014 Proposed Amendments and 2015 Proposed Amendments, the “Proposed Amendments”)) to the
Eleventh Supplemental Indenture; 
 WHEREAS, under the terms of the Original Indenture, certain terms of the Eighth Supplemental
Indenture and the 2014 Notes, including the 2014 Proposed Amendments, may be amended with the consent of holders of a majority of principal amount of the 2014 Notes (the “2014 Requisite Consents”); 

WHEREAS, under the terms of the Original Indenture, certain terms of the Tenth Supplemental Indenture and the 2015 Notes, including the
2015 Proposed Amendments, may be amended with the consent of holders of a majority of principal amount of the 2015 Notes (the “2015 Requisite Consents”); 

WHEREAS, under the terms of the Original Indenture, certain terms of the Eleventh Supplemental Indenture may be amended, including the
Guarantee Proposed Amendments, with the 2014 Requisite Consents and 2015 Requisite Consents; 
 WHEREAS, the Company has
obtained the 2014 Requisite Consents and the 2015 Requisite Consents to the Proposed Amendments pursuant to the Consent Solicitation; 
 WHEREAS, the Company and the Guarantors desire to supplement and amend the Indentures to effect the Proposed Amendments; and 
 WHEREAS, the Company and the Guarantors hereby certify that all covenants and conditions precedent, if any, provided for in the Indentures relating to the execution, delivery and performance of this
Seventeenth Supplemental Indenture have been complied with, and all things necessary to make this Seventeenth Supplemental 

 
Indenture a valid agreement of the Company, the Guarantors and the Trustee, in accordance with its terms, and a valid amendment of, and supplement to, the 2014 Indenture and 2015 Indenture,
respectively, have been done. 
 NOW, THEREFORE, the parties hereto agree, as follows: 

ARTICLE 1. 

AMENDMENTS TO INDENTURE 
 Section 1.01 Amendments to Eighth Supplemental Indenture. Subject to Section 2.01, the terms of the Eighth Supplemental Indenture are hereby amended, supplemented, modified or
deleted as follows. 
  

	 	(a)	The following sections of the Eighth Supplemental Indenture and any corresponding provisions in the 2014 Notes are hereby deleted in their entirety and replaced with
“[Intentionally Omitted.]”: 

  

	 	•	 	 Section 4.03. Change of Control; 

  

	 	•	 	 Section 6.02. Limitation on Additional Indebtedness; 

 

	 	•	 	 Section 6.03. Limitation on Liens; 

  

	 	•	 	 Section 6.04. Limitation on Restricted Payments; 

 

	 	•	 	 Section 6.05. Limitation on Asset Sales; 

  

	 	•	 	 Section 6.06. Transactions with Affiliates; 

  

	 	•	 	 Section 6.07. Limitation on Payment Restrictions Affecting Restricted Subsidiaries; 

 

	 	•	 	 Section 6.08. Restricted and Unrestricted Subsidiaries; and 

 

	 	•	 	 Section 6.11. Future Subsidiary Guarantees. 

  

	 	(b)	Section 6.09 of the Eighth Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the 2014
Notes are hereby amended accordingly): 

 Section 6.09. Mergers and Sales of Assets by the Company

 The Company will not consolidate with, merge into or transfer all or substantially all of its assets to
another Person unless such Person (if other than the Company) is a corporation organized under the laws of the United States or any state thereof or the District of Columbia and expressly assumes all the obligations of the Company under the
Indenture and the Notes. 
  

	 	(c)	Section 7.01 of the Eighth Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the 2014
Notes are hereby amended accordingly): 

 Section 7.01. Additional Events of Default 

The Events of Default with respect to the Notes shall be the Events of Default as set forth in Section 6.01 of the
Original Indenture. 

  

	 	(d)	Any definition in the Eighth Supplemental Indenture and 2014 Notes shall be deemed deleted if references to such definitions are eliminated as a result of the
amendments described herein; cross-references in the Eighth Supplemental Indenture and 2014 Notes to provisions in the Eighth Supplemental Indenture or 2014 Notes that have been deleted as a result of the amendments described herein are hereby
deleted; and any other changes to the Eighth Supplemental Indenture and 2014 Notes of a technical or conforming nature shall hereby be deemed made to the extent necessary to reflect the deletion of the provisions described herein.

  

	 	(e)	Subject to Section 2.01, the Company and the Guarantors may omit to comply with, and shall have no liability in respect of, any term, condition or limitation
deleted pursuant to the Sections listed in this Section 1.01, whether directly or indirectly, by reason of any reference in the Eighth Supplemental Indenture or other documents to any such Section or by reason of any reference in any such
Section to any other provision in the Eighth Supplemental Indenture or in any other document, and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 of the Original Indenture, Article 7 of the
Eighth Supplemental Indenture or Section 2.11 of the Eleventh Supplemental Indenture. 

 Section 1.02
Amendments to Tenth Supplemental Indenture. Subject to Section 2.01, the terms of the Tenth Supplemental Indenture are hereby amended, supplemented, modified or deleted as follows. 

 

	 	(a)	The following sections of the Tenth Supplemental Indenture and any corresponding provisions in the 2015 Notes are hereby deleted in their entirety and replaced with
“[Intentionally Omitted.]”: 

  

	 	•	 	 Section 4.03. Change of Control; 

  

	 	•	 	 Section 6.02. Limitation on Additional Indebtedness; 

 

	 	•	 	 Section 6.03. Limitation on Liens; 

  

	 	•	 	 Section 6.04. Limitation on Restricted Payments; 

 

	 	•	 	 Section 6.05. Limitation on Asset Sales; 

  

	 	•	 	 Section 6.06. Transactions with Affiliates; 

  

	 	•	 	 Section 6.07. Limitation on Payment Restrictions Affecting Restricted Subsidiaries; 

 

	 	•	 	 Section 6.08. Restricted and Unrestricted Subsidiaries; and 

 

	 	•	 	 Section 6.11. Future Subsidiary Guarantees. 

  

	 	(b)	Section 6.09 of the Tenth Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the 2015
Notes are hereby amended accordingly): 

 Section 6.09. Mergers and Sales of Assets by the Company

 The Company will not consolidate with, merge into or transfer all or substantially all of its assets to another Person unless
such Person (if other than the Company) is a corporation organized under the laws of the United States or any state thereof or the District of Columbia and expressly assumes all the obligations of the Company under the Indenture and the Notes.

  

	 	(c)	Section 7.01 of the Tenth Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding provisions of the 2015
Notes are hereby amended accordingly): 

 Section 7.01. Additional Events of Default 

The Events of Default with respect to the Notes shall be the Events of Default as set forth in Section 6.01 of the
Original Indenture. 
  

	 	(d)	Any definition in the Tenth Supplemental Indenture and 2015 Notes shall be deemed deleted if references to such definitions are eliminated as a result of the amendments
described herein; cross-references in the Tenth Supplemental Indenture and 2015 Notes to provisions in the Tenth Supplemental Indenture or 2015 Notes that have been deleted as a result of the amendments described herein are hereby deleted; and any
other changes to the Tenth Supplemental Indenture and 2015 Notes of a technical or conforming nature shall hereby be deemed made to the extent necessary to reflect the deletion of the provisions described herein. 

 

	 	(e)	Subject to Section 2.01, the Company and the Guarantors may omit to comply with, and shall have no liability in respect of, any term, condition or limitation
deleted pursuant to the Sections listed in this Section 1.02, whether directly or indirectly, by reason of any reference in the Tenth Supplemental Indenture or other documents to any such Section or by reason of any reference in any such
Section to any other provision in the Tenth Supplemental Indenture or in any other document, and such omission to comply shall not constitute a Default or an Event of Default under Section 6.01 of the Original Indenture, Article 7 of the Tenth
Supplemental Indenture or Section 2.11 of the Eleventh Supplemental Indenture. 

 Section 1.03
Amendments to Eleventh Supplemental Indenture. Subject to Section 2.01, the terms of the Eleventh Supplemental Indenture are hereby amended, supplemented, modified or deleted as follows. 

 

	 	(a)	Clause (i) of Section 2.03 of the Eleventh Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding
provisions of the Notes are hereby amended accordingly): 

 (i) the sale or disposition of a
Guarantor (or all or substantially all its assets or its Capital Stock) to an entity that is not, after giving effect to such transaction, a Subsidiary (other than a Subsidiary that has been designated as an Unrestricted Subsidiary under all other
indentures to which the Company is then a party that include provisions for designating Subsidiaries as Unrestricted Subsidiaries), 
  

	 	(b)	Clause (iii) of Section 2.03 of the Eleventh Supplemental Indenture is hereby deleted in its entirety and replaced with the following (and any corresponding
provisions of the Notes are hereby amended accordingly): 

 (iii) the designation of any
Guarantor as an Unrestricted Subsidiary under all other indentures to which the Company is then a party that include provisions for designating Subsidiaries as Unrestricted Subsidiaries, 

 

	 	(c)	 Any definition in the Eighth Supplemental Indenture, Tenth Supplemental Indenture, Eleventh Supplemental Indenture and 2014 Notes and 2015 Notes are
deemed deleted if references to such definitions would be eliminated as a result of the amendments described herein; cross-references in the Eighth Supplemental Indenture, Tenth Supplemental Indenture, Eleventh Supplemental Indenture and 2014 Notes
and 2015 Notes to provisions in the Eighth Supplemental Indenture, Tenth Supplemental Indenture, Eleventh 

	 	 
Supplemental Indenture, 2014 Notes or 2015 Notes, respectively, that have been deleted as a result of the amendments described herein are hereby deleted; and any other changes to the Eighth
Supplemental Indenture, Tenth Supplemental Indenture, Eleventh Supplemental Indenture and 2014 Notes and 2015 Notes, respectively, of a technical or conforming nature shall hereby be deemed made to the extent necessary to reflect the deletion of the
provisions described herein. 

  

	 	(d)	Subject to Section 2.01, the Company and the Guarantors may omit to comply with, and shall have no liability in respect of, any term, condition or limitation
deleted pursuant to the Sections listed in this Section 1.03, whether directly or indirectly, by reason of any reference in the Eighth Supplemental Indenture, Tenth Supplemental Indenture, Eleventh Supplemental Indenture or other documents to
any such Section or by reason of any reference in any such Section to any other provision in the Eighth Supplemental Indenture, Tenth Supplemental Indenture, Eleventh Supplemental Indenture or in any other document, and such omission to comply shall
not constitute a Default or an Event of Default under Section 6.01 of the Original Indenture, Article 7 of the Eighth Supplemental Indenture, Article 7 of the Tenth Supplemental Indenture or Section 2.11 of the Eleventh Supplemental
Indenture. 

 ARTICLE 2. 
 MISCELLANEOUS PROVISIONS 
 Section 2.01 Effective Date of the
Seventeenth Supplemental Indenture. This Seventeenth Supplemental Indenture shall be effective as of the date first written above. The provisions of (a) Section 1.01 of this Seventeenth Supplemental Indenture will become effective
upon (and only upon) acceptance for purchase by the Company of all validly tendered 2014 Notes in the Tender Offers and receipt of consents from at least a majority in principal amount of the 2014 Notes in the 2014 Consent Solicitation,
(b) Section 1.02 of this Seventeenth Supplemental Indenture will become effective upon (and only upon) acceptance for purchase by the Company of all validly tendered 2015 Notes in the Tender Offers and receipt of consents from at least a
majority in principal amount of the 2015 Notes in the 2015 Consent Solicitation and (c) Section 1.03 of this Seventeenth Supplemental Indenture will become effective upon (and only upon) receipt of consents from at least a majority in
principal amount of the 2014 Notes and 2015 Notes. 
 Section 2.02 Governing Law. The laws of the State of
New York shall govern this Seventeenth Supplemental Indenture and the 2014 Notes and 2015 Notes. 
 Section 2.03 No
Adverse Interpretation of Other Agreements. This Seventeenth Supplemental Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan or debt agreement may not be
used to interpret this Seventeenth Supplemental Indenture. 
 Section 2.04 No Recourse Against Others. A
director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the 2014 Notes or 2015 Notes or this Seventeenth Supplemental Indenture or for any claim based on, in respect
of or by reason of, such obligations or their creation. 
 Section 2.05 Successors and Assigns. All covenants
and agreements of the Company in this Seventeenth Supplemental Indenture and the 2014 Notes or 2015 Notes, as applicable shall bind its successors and assigns. All agreements of the Trustee in this Seventeenth Supplemental Indenture shall bind its
successors and assigns. 
 Section 2.06 Duplicate Originals. The parties may sign any number of copies of
this Seventeenth Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

 Section 2.07 Severability. In case any one or more of the provisions
contained in this Seventeenth Supplemental Indenture or in the Notes (as amended hereby) shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other
provisions of this Seventeenth Supplemental Indenture or the 2014 Notes or 2015 Notes, as applicable. 
 Section 2.08
Notices. Any order, consent, notice or communication shall be sufficiently given if in writing and delivered in person or mailed by first class mail, postage prepaid, addressed as follows: 

If to the Company or any Guarantor: 
 c/o Standard Pacific Corp. 
 26 Technology Dr. 

Irvine, California 92618 
 Attn: Secretary 
 Section 2.09 Amendment and Modification. This
Seventeenth Supplemental Indenture may be amended, modified, or supplemented only as permitted by the applicable Indenture and by written agreement of each of the parties hereto. 

Section 2.10 Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity
or sufficiency of this Seventeenth Supplemental Indenture or the 2014 Notes or 2015 Notes or for or in respect of the recitals contained herein or therein, all of which recitals are made solely by the Company, and the Trustee assumes no
responsibility for their correctness. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the parties hereto have executed this Seventeenth Supplemental Indenture
by their officers thereunto as of this 22nd day of December, 2010. 
  

					
	STANDARD PACIFIC CORP.
		
	By:	 	 /s/ Kenneth L. Campbell

		 		 	Name: Kenneth L. Campbell
		 		 	Title: Chief Executive Officer
	
	BARRINGTON ESTATES, LLC
		 	By:    	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
	
	LAGOON VALLEY RESIDENTIAL, LLC
		 	By:    	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
	
	STANDARD PACIFIC OF TONNER HILLS, LLC
		 	By:    	 	STANDARD PACIFIC CORP., ITS SOLE MEMBER
		
	By:	 	 /s/ Kenneth L. Campbell

		 		 	Name: Kenneth L. Campbell
		 		 	Title: Chief Executive Officer

[Signature Page to Seventeenth Supplemental Indenture] 

  

			
	CH CONSTRUCTION, INC.
	
	CH FLORIDA, INC.
	
	HILLTOP RESIDENTIAL, LTD.
	 BY:
	 	RESIDENTIAL ACQUISITION GP, LLC, ITS GENERAL PARTNER
	
	HSP ARIZONA, INC.
	
	HWB CONSTRUCTION, INC.
	
	HWB INVESTMENTS, INC.
	
	RESIDENTIAL ACQUISITION GP, LLC
	
	SP COLONY INVESTMENTS, INC.
	
	SP COPPENBARGER INVESTMENTS, INC.
	
	STANDARD PACIFIC 1, INC.
	
	STANDARD PACIFIC OF ARIZONA, INC.
	
	STANDARD PACIFIC OF CENTRAL FLORIDA GP, INC.
	
	STANDARD PACIFIC OF CENTRAL FLORIDA
	 BY:
	 	STANDARD PACIFIC OF CENTRAL FLORIDA GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF FLORIDA GP, INC.

 [Signature Page to Seventeenth Supplemental Indenture] 

  

			
	STANDARD PACIFIC OF JACKSONVILLE GP, INC.
	
	STANDARD PACIFIC OF JACKSONVILLE
	 BY:    
	 	STANDARD PACIFIC OF JACKSONVILLE GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF LAS VEGAS, INC.
	
	STANDARD PACIFIC OF ORANGE COUNTY, INC.
	
	STANDARD PACIFIC OF SOUTH FLORIDA GP, INC.
	
	STANDARD PACIFIC OF SOUTH FLORIDA
	 BY:    
	 	STANDARD PACIFIC OF SOUTH FLORIDA GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF SOUTHWEST FLORIDA GP, INC.
	
	STANDARD PACIFIC OF SOUTHWEST FLORIDA
	 BY:    
	 	STANDARD PACIFIC OF SOUTHWEST FLORIDA GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF TAMPA GP, INC.
	
	STANDARD PACIFIC OF TAMPA
	 BY:    
	 	STANDARD PACIFIC OF TAMPA GP, INC., ITS GENERAL PARTNER
	
	STANDARD PACIFIC OF TEXAS, INC.
	
	STANDARD PACIFIC OF THE CAROLINAS, LLC

 [Signature Page to Seventeenth Supplemental Indenture] 

  

			
	STANDARD PACIFIC OF WALNUT HILLS, INC.
	
	WESTFIELD HOMES USA, INC.
		
	By:	 	 /s/ Kenneth L. Campbell

		 	 Name: Kenneth L. Campbell

		 	 Title: Chief Executive Officer

 [Signature Page to Seventeenth Supplemental Indenture] 

  

			
	STANDARD PACIFIC OF COLORADO, INC.
		
	By:	 	 /s/ John P. Moroney

		 	      Name: John P. Moroney
		 	      Title: Chief Executive Officer & President

 [Signature Page to Seventeenth Supplemental Indenture] 

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
	as trustee
		
	By:	 	 /s/ Sharon McGrath

		 	      Name: Sharon McGrath
		 	      Title: Vice President

 [Signature Page to Seventeenth Supplemental Indenture]

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