Document:

EX-10.3

Exhibit 10.3

 

THIRD LIEN

SECURITY AGREEMENT

made by

K. HOVNANIAN ENTERPRISES, INC.,

HOVNANIAN ENTERPRISES, INC.

and certain of their respective Subsidiaries

in favor of

WILMINGTON TRUST COMPANY,

as Collateral Agent

Dated as of December 3, 2008

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	SECTION 1. DEFINED TERMS
	 	 	2	 
	1.1 Definitions
	 	 	2	 
	1.2 Other Definitional Provisions
	 	 	6	 
	 
	 	 	 	 
	SECTION 2. GRANT OF SECURITY INTEREST
	 	 	6	 
	 
	 	 	 	 
	SECTION 3. REPRESENTATIONS AND WARRANTIES
	 	 	8	 
	3.1 Title: No Other Liens
	 	 	8	 
	3.2 Perfected Third Priority Liens
	 	 	8	 
	3.3 Jurisdiction of Organization; Chief Executive Office
	 	 	8	 
	3.4 Farm Products
	 	 	9	 
	3.5 Investment Property
	 	 	9	 
	3.6 Receivables
	 	 	9	 
	 
	 	 	 	 
	SECTION 4. COVENANTS
	 	 	9	 
	4.1 Maintenance of Perfected Security Interest; Further Documentation
	 	 	9	 
	4.2 Changes in Name, etc.
	 	 	10	 
	4.3 Delivery of Instruments, Certificated Securities and Chattel Paper
	 	 	10	 
	4.4 Intellectual Property
	 	 	10	 
	 
	 	 	 	 
	SECTION 5. INVESTING AMOUNTS IN THE SECURITIES ACCOUNTS
	 	 	10	 
	5.1 Investments
	 	 	10	 
	5.2 Liability
	 	 	11	 
	 
	 	 	 	 
	SECTION 6. REMEDIAL PROVISIONS
	 	 	11	 
	6.1 Certain Matters Relating to Receivables
	 	 	11	 
	6.2 Communications with Obligors: Grantors Remain Liable
	 	 	12	 
	6.3 Proceeds to be Turned Over To Junior Agent
	 	 	12	 
	6.4 Application of Proceeds
	 	 	12	 
	6.5 Code and Other Remedies
	 	 	13	 
	6.6 Subordination
	 	 	13	 
	6.7 Deficiency
	 	 	13	 
	 
	 	 	 	 
	SECTION 7. THE JUNIOR AGENT
	 	 	14	 
	7.1 Junior Agent’s Appointment as Attorney-in-Fact. etc.
	 	 	14	 
	7.2 Duty of Junior Agent
	 	 	15	 
	7.3 Execution of Financing Statements
	 	 	15	 
	7.4 Authority of Junior Agent
	 	 	16	 

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	 	 	Page	 
	SECTION 8. MISCELLANEOUS
	 	 	16	 
	8.1 Amendments in Writing
	 	 	16	 
	8.2 Notices
	 	 	16	 
	8.3 No Waiver by Course of Conduct; Cumulative Remedies
	 	 	16	 
	8.4 Enforcement Expenses; Indemnification
	 	 	17	 
	8.5 Successors and Assigns
	 	 	17	 
	8.6 Set-Off
	 	 	17	 
	8.7 Counterparts
	 	 	18	 
	8.8 Severability
	 	 	18	 
	8.9 Section Headings
	 	 	18	 
	8.10 Integration
	 	 	18	 
	8.11 GOVERNING LAW
	 	 	18	 
	8.12 Submission To Jurisdiction; Waivers
	 	 	18	 
	8.13 Acknowledgements
	 	 	19	 
	8.14 Additional Grantors
	 	 	19	 
	8.15 Releases
	 	 	19	 
	8.16 Automatic Release of Collateral
	 	 	20	 
	8.17 WAIVER OF JURY TRIAL
	 	 	20	 
	8.18 Intercreditor Agreement
	 	 	20	 
	 
	 	 	 	 
	Schedule A – Cash Collateral Accounts
	 	 	 	 
	Schedule B – Commercial Tort Claims
	 	 	 	 
	Schedule C – Actions Required to Perfect
	 	 	 	 
	Schedule D – Listing of Certain Information Relating to Grantors
	 	 	 	 
	 
	 	 	 	 
	Exhibit A – Joinder Agreement
	 	 	 	 

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THIRD LIEN SECURITY AGREEMENT

          THIS THIRD LIEN SECURITY AGREEMENT (the “Agreement”), dated as of December 3, 2008, is
made by each of the signatories hereto (together with any other entity that may become a party
hereto as provided herein, the “Grantors”), in favor of Wilmington Trust Company, as
Collateral Agent (in such capacity, the “Junior Agent”) for the benefit of itself, the
Junior Trustee (as defined below) and the Junior Noteholders (as defined below).

WITNESSETH:

          WHEREAS, pursuant to the Seventh Amended and Restated Credit Agreement, dated as of March 7,
2008, as amended by Amendment No. 1 to Seventh Amended and Restated Credit Agreement dated as of
May 16, 2008 (as further amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”) among K. Hovnanian Enterprises, Inc., a California corporation (the
“Issuer”), Hovnanian Enterprises, Inc., a Delaware corporation (“Hovnanian”), the
Lenders now or hereafter party thereto (the “Lenders”), and PNC Bank National Association,
as administrative agent (the “Administrative Agent”), the Lenders have provided certain
loans and other financial accommodations to the Issuer;

          WHEREAS, the Issuer, Hovnanian and each of the other Guarantors (as defined in the Senior Note
Indenture) party thereto entered into the Indenture, dated as of May 27, 2008 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Senior Note
Indenture”) with Wilmington Trust Company (as successor to Deutsche Bank National Trust
Company) as trustee (in such capacity, together with its successors and assigns, the “Senior
Trustee”), pursuant to which the Issuer issued its 11 1/2 % Senior Secured Notes due 2013;

          WHEREAS, the Issuer, Hovnanian and each of the other Guarantors (as defined in the Junior Note
Indenture) have entered into the Indenture, dated as of December 3, 2008 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Junior Note Indenture”)
with Wilmington Trust Company as trustee (in such capacity, the “Junior Trustee”) pursuant
to which the Issuer issued its 18.0% Senior Secured Notes due 2017 (collectively, the “Junior
Notes”);

          WHEREAS, the Issuer, Hovnanian, certain subsidiaries of Hovnanian party thereto, PNC Bank,
National Association, as Senior Credit Agent and First-Lien Administrative Agent, the Senior
Trustee, the Senior Noteholder Collateral Agent, the Junior Trustee, the Junior Agent and
Wilmington Trust Company, as Mortgage Tax Collateral Agent have entered into the Intercreditor
Agreement, dated as of December 3, 2008 (as amended, supplemented, amended or restated or otherwise
modified from time to time, the “Intercreditor Agreement”);

          WHEREAS, the Issuer is a member of an affiliated group of companies that includes Hovnanian,
the Issuer’s parent company, and each other Grantor;

          WHEREAS, the Issuer and the other Grantors are engaged in related businesses, and each Grantor
will derive substantial direct and indirect benefit from the proceeds of the Junior Notes;

          NOW, THEREFORE, in consideration of the premises and to induce the Junior Noteholders to
purchase Junior Notes, each Grantor hereby agrees with the Junior Agent, for the ratable benefit of
the Secured Parties, as follows:

 

 

SECTION 1. DEFINED TERMS

     1.1 Definitions.

          (a) Definitions set forth above are incorporated herein and unless otherwise defined herein,
terms defined in the Junior Note Indenture and used herein shall have the meanings respectively
given to them in the Junior Note Indenture or, if not defined herein or therein, in the
Intercreditor Agreement, and the following terms are used herein as defined in the New York UCC:
Accounts, Chattel Paper, Commercial Tort Claims, Deposit Account, Documents, Equipment, Electronic
Chattel Paper, Farm Products, General Intangibles, Goods, Payment Intangibles, Instruments,
Inventory, Investment Property, Letter of Credit Rights, Payment Intangibles, Software and
Supporting Obligations.

          (b) The following terms shall have the following meanings:

          “Additional Junior Liens”: any liens on the Collateral which secure Additional Secured
Obligations on an equal and ratable basis with the Secured Obligations, provided that such liens
are permitted by clause (i)(c) of the definition of Permitted Liens in the Junior Note Indenture.

          “Additional Secured Obligations”: any obligations arising pursuant to any Additional
Junior Indenture or Additional Junior Notes (including for the avoidance of doubt any guarantees
with respect thereto).

          “Agreement”: this Third Lien Security Agreement, as the same may be amended,
restated, supplemented or otherwise modified from time to time.

          “Cash Collateral Account”: any deposit accounts, securities accounts and money market
mutual fund shares or similar securities accounts at or maintained or issued by the Administrative
Agent or any of the Lenders or any one or more Affiliates of the Administrative Agent or any of the
Lenders and which are identified on Schedule A hereto in which the Junior Agent, for the benefit of
the Secured Parties, holds a perfected security interest securing payment and performance of the
Secured Obligations (including, for the avoidance of doubt, each “Cash Collateral Account” as
defined in the Credit Agreement).

          “Cash Equivalents”: (i) cash, marketable direct obligations of the United States of
America or any agency thereof, and certificates of deposit, demand deposits, time deposits, or
repurchase agreements issued by any Lender or any bank with a capital and surplus of at least
$25,000,000 organized under the laws of the United States of America or any state thereof, state or
municipal securities with a rating of A-1 or better by Standard & Poor’s or by Moody’s or F-1 by
Fitch, provided that such obligations, certificates of deposit, demand deposits, time deposits, and
repurchase agreements have a maturity of less than one year from the date of purchase, and (ii)
investment grade commercial paper or debt or commercial paper issued by a Lender or a bank holding
company of a Lender having a maturity date of one year or less from the date of purchase, and (iii)
funds holding assets primarily consisting of those described in clause (i) and (ii).

          “Collateral”: as defined in Section 2.

          “Collateral Agency Agreement”: an intercreditor or collateral agency agreement entered
into between the Additional Junior Noteholder Collateral Agent(s) and the Junior Agent on terms
reasonably satisfactory to the Junior Agent, the Issuer and Hovnanian, setting forth the respective
rights of the Secured Parties and the Additional Junior Noteholder Collateral Agent(s) and the
holders of Additional Secured Obligations with respect to the Collateral and providing, among other
things, that (x)

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the Additional Junior Liens shall rank equally with or junior to the liens securing the
Secured Obligations, (y) any proceeds of the Collateral shall be applied ratably to the Secured
Obligations and the Additional Secured Obligations, or that the Additional Secured Obligations
shall receive payment on a junior basis, in each case, subject to the Intercreditor Agreement and
(z) the Junior Agent, including at the direction of the Junior Noteholders, shall be entitled to
take such actions, or to direct any agent appointed pursuant to the Collateral Agency Agreement to
take such actions, as are permitted hereby, by the Junior Note Indenture and by the Intercreditor
Agreement independently of any direction or vote of the holders of the Additional Secured
Obligations.

          “Contracts”: any contracts and agreements for the purchase, acquisition or sale of
real or personal property or the receipt or performance of services, any contract rights relating
thereto, and all other rights to such contract or agreements and any right to payment for or to
receive moneys due or to become due for items sold or leased or for services rendered, together
with all rights of any Grantor to damages arising thereunder or to perform and to exercise all
remedies thereunder.

          “Collateral Account”: any collateral account established by the Perfection Agent as
provided in Section 6.1 or 6.3.

          “Copyright Licenses”: any written agreement naming any Grantor as licensor or
licensee, granting any right under any Copyright, including, without limitation, the grant of
rights to distribute, exploit and sell materials derived from any Copyright.

          “Copyrights”: (i) all copyrights arising under the laws of the United States, any
other country or any political subdivision thereof, whether registered or unregistered and whether
published or unpublished, all registrations and recordings thereof, and all applications in
connection therewith, including, without limitation, all registrations, recordings and applications
in the United States Copyright Office, and (ii) the right to obtain all renewals thereof.

          “Deposit Accounts”: the collective reference to each Deposit Account (as such term is
defined in Section 1(a) hereof) in the name of the applicable Grantor, together with any one or
more securities accounts into which any monies on deposit in any such Deposit Account may be swept
or otherwise transferred now or hereafter and from time to time, and any additional, substitute or
successor Deposit Account.

          “Discharge of Senior Claims”: has the meaning set forth in the Intercreditor
Agreement.

          “Discharge of Senior Lender Claims”: has the meaning set forth in the Intercreditor
Agreement.

          “Excluded Accounts” shall mean at any time those deposit, checking or securities
accounts of any of the Grantors (i) that individually have an average monthly balance (over the
most recent ended 3-month period) less than $250,000 and which together do not have an average
monthly balance (for such 3-month period) in excess of $2,000,000 in the aggregate, (ii) all escrow
accounts (in which funds are held for or of others by virtue of customary real estate practice or
contractual or legal requirements) and (iii) such other accounts with respect to which the
Perfection Agent reasonably determines that the cost of perfecting a Lien thereon is excessive in
relation to the benefit thereof.

          “First Lien Security Agreement”: the “Security Agreement” as defined in the Credit
Agreement.

          “Guarantors”: the collective reference to each Grantor other than the Issuer.

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          “Intellectual Property”: the collective reference to all rights, priorities and
privileges, whether arising under United States, multinational or foreign laws, in, to and under
the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the Trademarks and the
Trademark Licenses, and all rights to sue at law or in equity for any infringement or other
impairment thereof, including the right to receive all proceeds and damages therefrom.

          “Investment Property”: the collective reference to (i) all “investment property” as
such term is defined in Section 9-102(a)(49) of the New York UCC, and (ii) whether or not
constituting “investment property” as so defined, all Pledged Notes.

          “Issuers”: the collective reference to each issuer of any Investment Property.

          “Junior Noteholder”: “Holder” or “Holder of Notes” as defined in the Junior Note
Indenture.

          “Junior Noteholder Collateral Document” means any agreement, document or instrument
pursuant to which a Lien is granted by the Issuer or any Guarantor to secure any Secured
Obligations or under which rights or remedies with respect to any such Liens are governed, as the
same may be amended, restated or otherwise modified from time to time.

          “Junior Noteholder Document” means collectively (a) the Junior Note Indenture, the
Junior Notes and the Junior Noteholder Collateral Documents and (b) any other related document or
instrument executed and delivered pursuant to any Junior Noteholder Document described in clause
(a) above evidencing or governing any Secured Obligations as the same may be amended, restated or
otherwise modified from time to time.

          “Law” shall mean any law (including common law), constitution, statute, treaty,
regulation, rule, ordinance, opinion, release, ruling, order, injunction, writ, decree, bond,
judgment, authorization or approval, lien or award of or settlement agreement with any Official
Body.

          “New York UCC”: the Uniform Commercial Code as from time to time in effect in the
State of New York.

          “Official Body” shall mean any national, federal, state, local or other governmental
or political subdivision or any agency, authority, board, bureau, central bank, commission,
department or instrumentality of either, or any court, tribunal, grand jury or arbitrator, in each
case whether foreign or domestic.

          “Patent License”: all written agreements providing for the grant by or to any Grantor
of any right to manufacture, use or sell any invention covered in whole or in part by a Patent.

          “Patents”: (i) all letters patent of the United States, any other country or any
political subdivision thereof, all reissues and extensions thereof, (ii) all applications for
letters patent of the United States or any other country and all divisions, continuations and
continuations-in-part thereof, and (iii) all rights to obtain any reissues or extensions of the
foregoing.

          “Perfection Agent”: (i) prior to the Discharge of Senior Lender Claims, the
Administrative Agent (including, with respect to any Collateral delivered to or held by the
Perfection Agent hereunder, in its capacity as bailee for the Junior Trustee, the Junior Agent and
the Junior Noteholders under Section 5.5 of the Intercreditor Agreement), (ii) following the
Discharge of Senior Lender Claims but prior to the Discharge of Senior Claims, the Senior
Noteholder Collateral Agent

4

 

(including, with respect to any Collateral delivered to or held by the Perfection Agent
hereunder, in its capacity as bailee for the Junior Trustee, the Junior Agent and the Junior
Noteholders under Section 5.6 of the Intercreditor Agreement) and (iii) following the Discharge of
Senior Claims, the Junior Agent; provided that the Junior Agent may for certain purposes hereunder
designate another Person to be the Perfection Agent pursuant to any Collateral Agency Agreement.

          “Permitted Encumbrance”: set forth in Section 3.1.

          “Pledged Notes”: all promissory notes issued to or held by any Grantor.

          “Proceeds”: all “proceeds” as such term is defined in Section 9-102(a)(64) of the New
York UCC and, in any event, shall include, without limitation, all dividends or other income from
the Investment Property, collections thereon or distributions or payments with respect thereto.

          “Receivable”: any right to payment for real or personal property sold or leased or
for services rendered, whether or not such right is evidenced by a Contract, an Instrument or
Chattel Paper and whether or not it has been earned by performance (including, without limitation,
any Account).

          “Secured Obligations”: all Indebtedness and other Obligations under the Junior Note
Indenture, the Junior Notes, the Guarantees and the Junior Noteholder Collateral Documents,
together with any extensions, renewals, replacements or refundings thereof and all costs and
expenses of enforcement and collection, including reasonable attorney’s fees.

          “Secured Parties”: the collective reference to the Junior Agent, the Junior Trustee
and the Junior Noteholders, in each case to which any Secured Obligations are owed.

          “Securities Accounts”: the collective reference to the securities accounts in the
name of the applicable Grantor and any additional, substitute or successor account.

          “Senior Noteholder Security Agreement”: the Second Lien Security Agreement, dated as
of May 27, 2008, among the Grantors party thereto in favor of Wilmington Trust Company (as
successor to Deutsche Bank National Trust Company).

          “Trademark License”: any written agreement providing for the grant by or to any
Grantor of any right to use any Trademark.

          “Trademarks”: (i) all trademarks, trade names, corporate names, company names,
business names, fictitious business names, trade styles, service marks, logos and other source or
business identifiers, and all goodwill associated therewith, now owned or hereafter acquired, all
registrations and recordings thereof, and all applications in connection therewith, whether in the
United States Patent and Trademark Office or in any similar office or agency of the United States,
any State thereof or any other country or any political subdivision thereof, and all common-law
rights related thereto, and (ii) the right to obtain all renewals thereof.

          “Vehicles”: all cars, trucks, trailers, construction and earth moving equipment and
other vehicles covered by a certificate of title law of any state and all tires and other
appurtenances to any of the foregoing.

5

 

     1.2 Other Definitional Provisions.

          (a) The words “hereof,” “herein”, “hereto” and “hereunder” and words of similar import when
used in this Agreement shall refer to this Agreement as a whole and not to any particular provision
of this Agreement, and Section and Schedule references are to this Agreement unless otherwise
specified.

          (b) The meanings given to terms defined herein shall be equally applicable to both the
singular and plural forms of such terms.

          (c) Where the context requires, terms relating to the Collateral or any part thereof, when
used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant part
thereof.

SECTION 2. GRANT OF SECURITY INTEREST

     Each Grantor hereby grants to the Junior Agent, for the ratable benefit of the Secured
Parties, a security interest in all of the following property now owned or at any time hereafter
acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire
any right, title or interest (collectively, the “Collateral”), as collateral security for
the prompt and complete payment and performance when due (whether at the stated maturity, by
acceleration or otherwise) of the Secured Obligations:

          (a) all Accounts;

          (b) all Cash Collateral Accounts;

          (c) all Chattel Paper (including, Electronic Chattel Paper);

          (d) all Commercial Tort Claims (including those claims listed on Schedule B hereto, in which
the claim amount individually exceeds $2,000,000, as such schedule is amended or supplemented from
time to time);

          (e) all Contracts;

          (f) all Securities Accounts;

          (g) all Deposit Accounts;

          (h) all Documents (other than title documents with respect to vehicles);

          (i) all Equipment;

          (j) all Fixtures;

          (k) all General Intangibles;

          (l) all Goods;

          (m) all Instruments;

6

 

          (n) all Intellectual Property;

          (o) all Inventory;

          (p) all Investment Property;

          (q) all Letters of Credit;

          (r) all Letter of Credit Rights;

          (s) all Payment Intangibles;

          (t) all Vehicles and title documents with respect to Vehicles;

          (u) all Receivables;

          (v) all Software;

          (w) all Supporting Obligations;

          (x) to the extent, if any, not included in clauses (a) through (w) above, each and every other
item of personal property whether now existing or hereafter arising or acquired;

          (y) all books and records pertaining to any of the Collateral; and

          (z) to the extent not otherwise included, all Proceeds, Supporting Obligations and products of
any and all of the foregoing and all collateral security and guarantees given by any Person with
respect to any of the foregoing;

provided, however, that notwithstanding any of the other provisions set forth in
this Section 2 (and notwithstanding any recording of the Junior Agent’s Lien in the U.S. Patent and
Trademark Office or other registry office in any jurisdiction), this Agreement shall not constitute
a grant of a security interest in, and the Collateral shall not include, (i) any property or assets
designated as “Excluded Property” pursuant to paragraph (c) of the definition of “Permitted
Investment” in the Junior Note Indenture or (ii) any property to the extent that such grant of a
security interest is prohibited by any applicable Law of an Official Body, requires a consent not
obtained of any Official Body pursuant to such Law or is prohibited by, or constitutes a breach or
default under or results in the termination of or gives rise to any right of acceleration,
modification or cancellation or requires any consent not obtained under, any contract, license,
agreement, instrument or other document evidencing or giving rise to such property or, in the case
of any Investment Property, or Pledged Note, any applicable shareholder or similar agreement,
except to the extent that such Law or the term in such contract, license, agreement, instrument or
other document or shareholder or similar agreement providing for such prohibition, breach, default
or termination or requiring such consent is ineffective under applicable Law including Sections
9-406, 9-407, 9-408 or 9-409 of the New York UCC (or any successor provision or provisions);
provided, further, that no security interest shall be granted in United States
“intent-to-use” trademark or service mark application unless and until acceptable evidence of use
of the trademark or service mark has been filed with and accepted by the U.S. Patent and Trademark
Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (U.S.C. 1051, et. seq.), and to
the extent that, and solely during the period in which, the grant of a security interest therein
would impair the validity or enforceability of such intent-to-use trademark or service mark
applications under applicable federal Law. After such period and after such evidence of use

7

 

has been filed and accepted, each Grantor acknowledges that such interest in such trademark or
service mark applications will become part of the Collateral. The Junior Agent agrees that, at any
Grantor’s reasonable request and expense, it will provide such Grantor confirmation that the assets
described in this paragraph are in fact excluded from the Collateral during such limited period
only. Notwithstanding the foregoing, in the event that Rule 3-16 of Regulation S-X under the
Securities Act requires (or is replaced with another rule or regulation, or any other law, rule or
regulation is adopted, which would require) the filing with the SEC of separate financial
statements of any Guarantor, then the capital stock or other securities of such Guarantor shall
automatically be deemed released and not to be and not to have been part of the Collateral but only
to the extent necessary to not be subject to such requirement. In such event, this Agreement may
be amended or modified, without the consent of any Junior Noteholder, to the extent necessary to
evidence the release of the lien created hereby on the shares of capital stock or other securities
that are so deemed to no longer constitute part of the Collateral.

SECTION 3. REPRESENTATIONS AND WARRANTIES

     To induce the Junior Noteholders to purchase the Junior Notes, each Grantor hereby represents
and warrants to the Junior Agent and each other Secured Party that:

     3.1 Title: No Other Liens.

     Except for the security interest granted to the Junior Agent for the ratable benefit of the
Secured Parties pursuant to this Agreement: (i) such Grantor owns each item of the Cash Collateral
Accounts free and clear of any and all Liens or claims of others, except for (a) the first priority
perfected security interest securing the Senior Lender Claims, (b) the second priority perfected
security interest securing the Senior Noteholder Claims and (c) the Additional Junior Liens and
(ii) such Grantor owns each other item of the Collateral free and clear of any and all Liens or
claims of others except, with respect to the Collateral referred to in this clause (ii), for the
Liens permitted to exist on the Collateral by Section 7.2.2 of the Credit Agreement, Section 4.08
of the Senior Note Indenture and Section 4.08 of the Junior Note Indenture (“Permitted
Encumbrances”). No financing statement or other public notice with respect to all or any part
of the Collateral is on file or of record in any public office, except with respect to Permitted
Encumbrances.

     3.2 Perfected Third Priority Liens.

     The security interests granted pursuant to this Agreement (a) upon completion of the filings
and other actions specified on Schedule C (which, in the case of all filings and other documents
referred to on said Schedule, have been delivered to the Junior Agent in completed form) will
constitute valid perfected (to the extent such security interest can be perfected by such filings
or actions) security interests in all of the Collateral in favor of the Junior Agent, for the
ratable benefit of the Secured Parties, as collateral security for the Secured Obligations,
enforceable in accordance with the terms hereof against all creditors of such Grantor and any
Persons purporting to purchase any Collateral from such Grantor and (b) are prior to all other
Liens on the Collateral in existence on the date hereof except, (i) in the case of Collateral other
than the Cash Collateral Accounts, for Permitted Encumbrances and (ii) in the case of the Cash
Collateral Accounts, for the first priority perfected security interest securing the Senior Lender
Claims, the second priority perfected security interest securing the Senior Noteholder Claims and
the Additional Junior Liens.

     3.3 Jurisdiction of Organization; Chief Executive Office.

     On the date hereof, such Grantor’s exact legal name, jurisdiction of organization and
identification number from the jurisdiction of organization (if any), are specified on Schedule D
hereto.

8

 

     3.4 Farm Products.

     None of the Collateral constitutes, or is the Proceeds of, Farm Products.

     3.5 Investment Property.

     Such Grantor is the record and beneficial owner of, and has good title to, the Investment
Property pledged by it hereunder, free of any and all Liens or options in favor of, or claims of,
any other Person, except the Permitted Encumbrances.

     3.6 Receivables.

     No amount payable in excess of $2,000,000 in the aggregate to all Grantors under or in
connection with any Receivables is evidenced by any Instrument or Chattel Paper which has not been
delivered to the Perfection Agent.

SECTION 4. COVENANTS

     Each Grantor covenants and agrees with the Junior Agent and the other Secured Parties that,
from and after the date of this Agreement until the payment in full of all outstanding Secured
Obligations:

     4.1 Maintenance of Perfected Security Interest; Further Documentation.

          (a) Such Grantor shall maintain the security interest created by this Agreement as a perfected
security interest to the extent required by this Agreement having at least the priority described
in Section 3.2 and shall defend such security interest against the claims and demands of all
Persons whomsoever other than (i) in the case of Collateral other than the Cash Collateral
Accounts, any holder of Permitted Encumbrances and (ii) in the case of the Cash Collateral
Accounts, for the first priority perfected security interest securing the Senior Lender Claims, the
second priority perfected security interest securing the Senior Noteholder Claims and the
Additional Junior Liens, in each case, subject to the rights of such Grantor under the Junior
Noteholder Documents to dispose of the Collateral.

          (b) At any time and from time to time such Grantor will promptly and duly execute and deliver,
and have recorded, such further instruments and documents and take such further actions as shall be
necessary, or that the Junior Agent may reasonably request, for the purpose of obtaining,
perfecting or preserving the security interests purported to be granted under this Agreement and of
the rights and remedies herein granted, including, without limitation, (i) filing any financing or
continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any
jurisdiction with respect to the security interests created hereby and (ii) in the case of the
Deposit Accounts, Investment Property, Letter of Credit Rights and the Securities Accounts and any
other relevant Collateral, taking any actions necessary to enable the Perfection Agent to obtain
“control” (within the meaning of the applicable Uniform Commercial Code) with respect thereto,
provided that the Grantor shall not be required to take any of the actions set forth
in this clause (ii) with respect to (x) Excluded Accounts and (y) (1) prior to the Discharge of
Senior Lender Claims, any Deposit Account or Securities Account with respect to which the
Administrative Agent (or other Senior Credit Agent) does not have “control” and (2) following the
Discharge of Senior Lender Claims but prior to the Discharge of Senior Claims, any Deposit Account
or Securities Account with respect to which the Senior Noteholder Collateral Agent does not have
“control”, in each case within the meaning of the applicable Uniform Commercial Code;
provided, further that following the Discharge of Senior Claims, the Grantor shall
only be required to take the actions set forth in this clause (ii) with respect to Deposit Accounts
and Securities Accounts if reasonably requested by the Junior Agent.

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          (c) If any Grantor shall at any time acquire a Commercial Tort Claim, in which the claim
amount individually exceeds $2,000,000, such Grantor shall promptly notify the Junior Agent in a
writing signed by such Grantor of the details thereof and grant to the Junior Agent for the benefit
of the Secured Parties in such writing a security interest therein and in the Proceeds thereof,
with such writing to be in form and substance satisfactory to the Junior Agent and such writing
shall constitute a supplement to Schedule B hereto.

     4.2 Changes in Name, etc.

     Such Grantor will, within thirty (30) calendar days after any change of its jurisdiction of
organization or change of its name, provide written notice thereof to the Junior Agent.

     4.3 Delivery of Instruments, Certificated Securities and Chattel Paper.

     If any amount in excess of $2,000,000 in the aggregate payable under or in connection with any
of the Collateral shall be or become evidenced by any Instrument, certificated security or Chattel
Paper, such Instrument, certificated security or Chattel Paper shall be promptly delivered to the
Perfection Agent, duly indorsed in a manner reasonably satisfactory to the Perfection Agent.

     4.4 Intellectual Property.

          (a) Prior to the Discharge of Senior Lender Claims, such Grantor, if requested to do so with
respect to the Senior Lender Claims by the Administrative Agent pursuant to Section 4.4 of the
First Lien Security Agreement, shall execute and deliver to the Junior Agent, and have recorded,
any and all agreements, instruments, documents, and papers to evidence the Junior Agent’s and the
other Secured Parties’ third lien security interest in any Copyright, Patent or Trademark and the
goodwill and General Intangibles of such Grantor relating thereto or represented thereby.
Following the Discharge of Senior Lender Claims but prior to the Discharge of Senior Claims, such
Grantor, if required to do so with respect to the Senior Noteholder Claims pursuant to Section 4.4
of the Senior Noteholder Security Agreement, shall execute and deliver to the Junior Agent, and
have recorded, any and all agreements, instruments, documents, and papers to evidence the Junior
Agent’s and the other Secured Parties’ security interest in any Copyright, Patent or Trademark and
the goodwill and General Intangibles of such Grantor relating thereto or represented thereby. On
and after the Discharge of Senior Claims, such Grantor shall, if requested to do so by the Junior
Agent, promptly execute and deliver, and have recorded, any and all agreements, instruments,
documents, and papers as may be necessary to create and perfect the Junior Agent’s and the other
Secured Parties’ security interest in any Copyright, Patent or Trademark and the goodwill and
General Intangibles of such Grantor relating thereto or represented thereby.

          (b) Such Grantor’s obligations under Section 4.4(a) above shall include executing and
delivering, and having recorded, with respect to such Collateral, the Intellectual Property
Security Agreement attached hereto as Exhibit A.

SECTION 5. INVESTING AMOUNTS IN THE SECURITIES ACCOUNTS

     5.1 Investments.

     If requested by the Issuer, the Perfection Agent will, from time to time, invest amounts on
deposit in the Deposit Accounts or Securities Accounts in which the Junior Agent for the benefit of
the Secured Parties holds perfected security interest, in Cash Equivalents pursuant to the written
instructions of the Issuer. All investments may, at the option of the Perfection Agent, be made in
the name of the Perfection Agent or a nominee of the Perfection Agent and in a manner that
preserves the Issuer’s ownership of, and

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the Junior Agent’s perfected Lien on, such investments. Subject to the Intercreditor
Agreement, all income received from such investments shall accrue for the benefit of the Issuer and
shall be credited (immediately upon receipt by the Perfection Agent) to a Deposit Account or
Securities Account, in which Junior Agent for the benefit of the Secured Parties holds a perfected
security interest. The Junior Agent, as the Perfection Agent, will only make investments in which
it can obtain a perfected security interest, and the Issuer hereby agrees to execute promptly any
documents which the Perfection Agent may reasonably require the Issuer to execute to implement or
effectuate the provisions of this Section.

     5.2 Liability.

     The Junior Agent shall have no responsibility to the Issuer for any loss or liability arising
in respect of the investments in the Deposit Accounts or Securities Accounts in which the Junior
Agent for the benefit of the Secured Parties holds a perfected security interest (including,
without limitation, as a result of the liquidation of any thereof before maturity), except to the
extent that such loss or liability is found to be based on the Junior Agent’s gross negligence or
willful misconduct as determined by a final and nonappealable decision of a court of competent
jurisdiction.

SECTION 6. REMEDIAL PROVISIONS

     6.1 Certain Matters Relating to Receivables.

          (a) At any time during the continuance of an Event of Default, the Junior Agent shall have the
right to make test verifications of the Receivables in any manner and through any medium that it
reasonably considers advisable, and each Grantor shall furnish all such assistance and information
as the Junior Agent may require in connection with such test verifications. The Junior Agent shall
endeavor to provide the Issuer with notice at or about the time of such verifications, provided
that the failure to provide such notice shall not in any way compromise or adversely affect the
exercise of such remedy or the Junior Agent’s rights hereunder.

          (b) The Junior Agent hereby authorizes each Grantor to collect such Grantor’s Receivables and,
subject to the Intercreditor Agreement, the Junior Agent may curtail or terminate said authority at
any time after the occurrence and during the continuance of an Event of Default. The Junior Agent
shall endeavor to provide the Issuer with notice at or about the time of the exercise of its rights
pursuant to the preceding sentence, provided that the failure to provide such notice shall not in
any way compromise or adversely affect the exercise of any rights or remedies hereunder. Subject
to the Intercreditor Agreement, if requested in writing by the Junior Agent at any time after the
occurrence and during the continuance of an Event of Default, any payments of Receivables, when
collected by any Grantor, (i) shall be forthwith (and, in any event, within two Business Days)
deposited by such Grantor in the exact form received, duly indorsed by such Grantor to the
Perfection Agent if required, in a Collateral Account maintained under the sole dominion and
control of the Perfection Agent, subject to withdrawal by the Perfection Agent to be applied (x)
prior to the Discharge of Senior Lender Claims, in accordance with the First Lien Security
Agreement, (y) following the Discharge of Senior Lender Claims but prior to the Discharge of Senior
Claims, in accordance with the Senior Noteholder Security Agreement and (z) following the Discharge
of Senior Claims, pursuant to Section 6.4 below, and (ii) until so turned over, shall be held by
such Grantor in trust for the Perfection Agent, segregated from other funds of such Grantor.

          (c) At the Junior Agent’s written request at any time after the occurrence and during the
continuance of an Event of Default, each Grantor shall deliver to the Perfection Agent all original
and other documents evidencing, and relating to, the agreements and transactions which gave rise to
the Receivables, including without limitation, all original orders, invoices and shipping receipts.

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     6.2 Communications with Obligors: Grantors Remain Liable.

          (a) Subject to the Intercreditor Agreement, the Junior Agent in its own name or in the name of
others may after the occurrence and during the continuance of an Event of Default communicate with
obligors under the Receivables and parties to the Contracts to verify with them to the Junior
Agent’s satisfaction the existence, amount and terms of any Receivables or Contracts. The Junior
Agent shall endeavor to provide the Issuer with notice at or about the time of the exercise of its
rights pursuant to the preceding sentence, provided that the failure to provide such notice shall
not in any way compromise or adversely affect the exercise of any rights or remedies hereunder.

          (b) Subject to the Intercreditor Agreement, upon the written request of the Junior Agent at
any time after the occurrence and during the continuance of an Event of Default, each Grantor shall
notify obligors on the Receivables and parties to the Contracts that the Receivables and the
Contracts, as the case may be, have been assigned to the Junior Agent for the ratable benefit of
the Secured Parties and that payments in respect thereof shall be made directly to the Junior
Agent.

          (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under
each of the Receivables and Contracts to observe and perform all the conditions and obligations to
be observed and performed by it thereunder, all in accordance with the terms of any agreement
giving rise thereto. Neither the Junior Agent nor any Secured Party shall have any obligation or
liability under any Receivable (or any agreement giving rise thereto) or Contract by reason of or
arising out of this Agreement or the receipt by the Junior Agent or any Secured Party of any
payment relating thereto, nor shall the Junior Agent or any Secured Party be obligated in any
manner to perform any of the obligations of any Grantor under or pursuant to any Receivable (or any
agreement giving rise thereto) or Contract, to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to the sufficiency of any performance
by any party thereunder, to present or file any claim, to take any action to enforce any
performance or to collect the payment of any amounts which may have been assigned to it or to which
it may be entitled at any time or times.

     6.3 Proceeds to be Turned Over To Junior Agent.

     In addition to the rights of the Junior Agent and the Secured Parties specified in Section 6.1
with respect to payments of Receivables, and subject to the Intercreditor Agreement, if an Event of
Default shall occur and be continuing, upon written request from the Junior Agent, all Proceeds
received by any Grantor consisting of cash, checks and other near-cash items shall be held by such
Grantor in trust for the Perfection Agent and the Secured Parties, segregated from other funds of
such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Perfection
Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Perfection
Agent, if requested). All Proceeds received by the Perfection Agent hereunder shall be held by the
Perfection Agent in a Collateral Account maintained under its sole dominion and control. All such
Proceeds while held by the Perfection Agent in a Collateral Account (or by such Grantor in trust
for the Junior Agent and the Secured Parties) shall continue to be held as collateral security for
all the Secured Obligations and shall not constitute payment thereof until applied as provided in
Section 6.4.

     6.4 Application of Proceeds.

     If an Event of Default shall have occurred and be continuing, at any time at the Junior
Agent’s election, subject to the Intercreditor Agreement and to any Collateral Agency Agreement,
the Junior Agent may apply all or any part of the Collateral, whether or not held in the Deposit
Accounts, the Securities Accounts or any other Collateral Account, in payment of the Secured
Obligations in the order set forth in the Junior Note Indenture.

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     6.5 Code and Other Remedies.

     Subject to the Intercreditor Agreement, if an Event of Default shall occur and be continuing,
the Junior Agent, on behalf of the Secured Parties, may exercise, in addition to all other rights
and remedies granted to them in this Agreement and in any other instrument or agreement securing,
evidencing or relating to the Secured Obligations, all rights and remedies of a secured party under
the New York UCC or any other applicable law. Without limiting the generality of the foregoing,
the Junior Agent, without prior demand of performance or other demand, presentment, protest,
advertisement or notice of any kind (except any prior notice required by law referred to below) to
or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements
and notices are hereby waived), may in such circumstances, subject to the Intercreditor Agreement,
forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof,
and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose
of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one
or more parcels at public or private sale or sales, at any exchange, broker’s board or office of
the Junior Agent or any Secured Party or elsewhere upon such terms and conditions as it may deem
advisable and at such prices as it may deem best, for cash or on credit or for future delivery
without assumption of any credit risk. The Junior Agent shall endeavor to provide the Issuer with
notice at or about the time of the exercise of remedies in the proceeding sentence, provided that
the failure to provide such notice shall not in any way compromise or adversely affect the exercise
of such remedies or the Junior Agent’s rights hereunder. The Junior Agent or any Secured Party
shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon
any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free
of any right or equity of redemption in any Grantor, which right or equity is hereby waived and
released. Each Grantor further agrees, at the Junior Agent’s request, to assemble the Collateral
and make it available to the Junior Agent at places which the Junior Agent shall reasonably select,
whether at such Grantor’s premises or elsewhere. The Junior Agent shall apply the net proceeds of
any action taken by it pursuant to this Section 6.5, after deducting all reasonable costs and
expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of
any of the Collateral or in any way relating to the Collateral or the rights of the Junior Agent
and the Secured Parties hereunder, including, without limitation, reasonable attorneys’ fees and
disbursements, to the payment in whole or in part of the Secured Obligations, in such order as the
Junior Agent may elect, and only after such application and after the payment by the Junior Agent
of any other amount required by any provision of law, including, without limitation, Section
9-615(a)(3) of the New York UCC, need the Junior Agent account for the surplus, if any, to any
Grantor. To the extent permitted by applicable law, each Grantor waives all claims, damages and
demands it may acquire against the Junior Agent or any Secured Party arising out of the exercise by
them of any rights hereunder. If any prior notice of a proposed sale or other disposition of
Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at
least 10 days before such sale or other disposition.

     6.6 Subordination.

     Each Grantor hereby agrees that, upon the occurrence and during the continuance of an Event of
Default, unless otherwise agreed by the Junior Agent, all Indebtedness owing to it by the Issuer or
any Subsidiary of the Issuer shall be fully subordinated to the indefeasible payment in full in
cash of the Secured Obligations.

     6.7 Deficiency.

     Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other
disposition of the Collateral are insufficient to pay the Secured Obligations and the fees and
disbursements of any attorneys employed by the Junior Agent or any Secured Party to collect such
deficiency.

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SECTION 7. THE JUNIOR AGENT

     7.1 Junior Agent’s Appointment as Attorney-in-Fact. etc.

          (a) Subject to the Intercreditor Agreement, each Grantor hereby irrevocably constitutes and
appoints the Junior Agent and any officer or agent thereof, with full power of substitution, as its
true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead
of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out
the terms of this Agreement, to take any and all appropriate action and to execute any and all
documents and instruments which may be necessary or desirable to accomplish the purposes of this
Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the
Junior Agent the power and right, on behalf of such Grantor, without prior notice to or assent by
such Grantor, to do any or all of the following:

          (i) in the name of such Grantor or its own name, or otherwise, take possession of and
indorse and collect any checks, drafts, notes, acceptances or other instruments for the
payment of moneys due under any Receivable or Contract or with respect to any other
Collateral and file any claim or take any other action or proceeding in any court of law or
equity or otherwise deemed appropriate by the Junior Agent for the purpose of collecting any
and all such moneys due under any Receivable or Contract or with respect to any other
Collateral whenever payable;

          (ii) in the case of any Intellectual Property, execute and deliver, and have recorded,
any and all agreements, instruments, documents and papers as the Junior Agent may request to
evidence the Junior Agent’s and the Secured Parties’ security interest in such Intellectual
Property and the goodwill and General Intangibles of such Grantors relating thereto or
represented thereby;

          (iii) pay or discharge taxes and Liens levied or placed on or threatened against the
Collateral, effect any repairs or any insurance called for by the terms of this Agreement
and pay all or any part of the premiums therefor and the costs thereof;

          (iv) execute, in connection with any sale provided for in Section 6.5, any
endorsements, assignments or other instruments of conveyance or transfer with respect to the
Collateral; and

          (v) (1) direct any party liable for any payment under any of the Collateral to make
payment of any and all moneys due or to become due thereunder directly to the Junior Agent
or as the Junior Agent shall direct; (2) ask or demand for, collect, and receive payment of
and receipt for, any and all moneys, claims and other amounts due or to become due at any
time in respect of or arising out of any Collateral; (3) sign and indorse any invoices,
freight or express bills, bills of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications, notices and other documents in connection with any of
the Collateral; (4) commence and prosecute any suits, actions or proceedings at law or in
equity in any court of competent jurisdiction to collect the Collateral or any portion
thereof and to enforce any other right in respect of any Collateral; (5) defend any suit,
action or proceeding brought against such Grantor with respect to any Collateral; (6)
settle, compromise or adjust any such suit, action or proceeding and, in connection
therewith, give such discharges or releases as the Junior Agent may deem appropriate; (7)
assign any Copyright, Patent or Trademark (along with the goodwill of the business to which
any such Copyright, Patent or Trademark pertains), through the world for such term or terms,
on such conditions, in such manner, as the Junior Agent shall in its sole

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discretion determine; and (8) generally, sell, transfer, pledge and make any agreement
with respect to or otherwise deal with any of the Collateral as fully and completely as
though the Junior Agent were the absolute owner thereof for all purposes, and do, at the
Junior Agent’s option and such Grantor’s expense, at any time, or from time to time, all
acts and things which the Junior Agent deems necessary to protect, preserve or realize upon
the Collateral and the Junior Agent’s and the Secured Parties’ security interests therein
and to effect the intent of this Agreement, all as fully and effectively as such Grantor
might do.

          The Junior Agent shall endeavor to provide the Issuer with notice at or about the time of the
exercise of its rights in the preceding clause (a), provided that the failure to provide such
notice shall not in any way compromise or adversely affect the exercise of any rights or remedies
hereunder.

          (b) If any Grantor fails to perform or comply with any of its agreements contained herein, the
Junior Agent, at its option, but without any obligation so to do, may perform or comply, or
otherwise cause performance or compliance, with such agreement.

          (c) The expenses of the Junior Agent incurred in connection with actions undertaken as
provided in this Section 7.1, together with, if past due, interest thereon at a rate per annum
equal to the Default Rate, from the date when due to the Junior Agent to the date reimbursed by the
relevant Grantor, shall be payable by such Grantor to the Junior Agent upon not less than five (5)
Business Days notice.

          (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof. All powers, authorizations and agencies contained in this Agreement are coupled
with an interest and are irrevocable until this Agreement is terminated and the security interests
created hereby are released.

     7.2 Duty of Junior Agent.

     The Junior Agent’s sole duty with respect to the custody, safekeeping and physical
preservation of the Collateral in its possession, under Section 9-207 of the New York UCC or
otherwise, shall be to deal with it in the same manner as the Junior Agent deals with similar
property for its own account. Neither the Junior Agent, any Secured Party nor any of their
respective officers, directors, employees or agents shall be liable for failure to demand, collect
or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation
to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person
or to take any other action whatsoever with regard to the Collateral or any part thereof. The
powers conferred on the Junior Agent and the Secured Parties hereunder are solely to protect the
Junior Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty
upon the Junior Agent or any Secured Party to exercise any such powers. The Junior Agent and the
Secured Parties shall be accountable only for amounts that they actually receive as a result of the
exercise of such powers, and neither they nor any of their officers, directors, employees or agents
shall be responsible to any Grantor for any act or failure to act hereunder, except for their own
gross negligence or willful misconduct.

     7.3 Execution of Financing Statements.

     Pursuant to any applicable law, each Grantor authorizes the Junior Agent to file or record
financing statements and other filing or recording documents or instruments with respect to the
Collateral without the signature of such Grantor in such form and in such offices as the Junior
Agent determines appropriate to perfect the security interests of the Junior Agent under this
Agreement. Each Grantor authorizes the Junior Agent to use the collateral description “all
personal property” or “all assets” in any

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such financing statements or in any other manner that the Junior Agent, in its sole
discretion, deems necessary, advisable or prudent to ensure the perfection of the security
interests granted hereunder.

     7.4 Authority of Junior Agent.

     Each Grantor acknowledges that the rights and responsibilities of the Junior Agent under this
Agreement with respect to any action taken by the Junior Agent or the exercise or non-exercise by
the Junior Agent of any option, voting right, request, judgment or other right or remedy provided
for herein or resulting or arising out of this Agreement shall, as between the Junior Agent and the
Secured Parties, be governed by the Junior Note Indenture and by such other agreements with respect
thereto as may exist from time to time among them, but, as between the Junior Agent and the
Grantors, the Junior Agent shall be conclusively presumed to be acting as agent for the Secured
Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be
under any obligation, or entitlement, to make any inquiry respecting such authority.

SECTION 8. MISCELLANEOUS

     8.1 Amendments in Writing.

     None of the terms or provisions of this Agreement may be waived, amended, supplemented or
otherwise modified except in accordance with Article 9 of the Junior Note Indenture. For the
avoidance of doubt, the Issuer and the Junior Agent may, without the need to obtain the consent of
the Junior Noteholders, amend, supplement or otherwise modify any provision hereof or of any other
Junior Noteholder Collateral Document (including by entering into any Collateral Agency Agreement
or any other new or supplemental agreements) to reflect and give effect to the matters referred to
in the definition of Collateral Agency Agreement in connection with the incurrence of Additional
Secured Obligations and the granting of Additional Junior Liens, to the extent such incurrence or
grant is permitted by, and in accordance with, the Junior Note Indenture and the Intercreditor
Agreement.

     8.2 Notices.

     All notices, requests and demands to or upon the Junior Agent or any Grantor hereunder shall
be effected in the manner provided for in Section 13.03 of the Junior Note Indenture.

     8.3 No Waiver by Course of Conduct; Cumulative Remedies.

     Neither the Junior Agent nor any Secured Party shall by any act (except by a written
instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have
waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default. No
failure to exercise, nor any delay in exercising, on the part of the Junior Agent or any Secured
Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or
partial exercise of any right, power or privilege hereunder shall preclude any other or further
exercise thereof or the exercise of any other right, power or privilege. A waiver by the Junior
Agent or any Secured Party of any right or remedy hereunder on any one occasion shall not be
construed as a bar to any right or remedy which the Junior Agent or such Secured Party would
otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may
be exercised singly or concurrently and are not exclusive of any other rights or remedies provided
by law.

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     8.4 Enforcement Expenses; Indemnification.

          (a) Each Grantor agrees to pay or reimburse each Secured Party and the Junior Agent for all
its costs and expenses incurred in enforcing or preserving any rights under this Agreement and the
other Junior Noteholder Documents to which such Grantor is a party, including, without limitation,
the reasonable fees and disbursements of counsel (including the allocated fees and expenses of
in-house counsel) to the Junior Agent and the Secured Parties.

          (b) Each Grantor agrees to pay, and to save the Junior Agent and the Secured Parties harmless
from, any and all liabilities with respect to, or resulting from any delay in paying, any and all
stamp, excise, sales or other taxes which may be payable or determined to be payable with respect
to any of the Collateral or in connection with any of the transactions contemplated by this
Agreement.

          (c) Each Grantor agrees to pay, and to save the Junior Agent and the Secured Parties harmless
from, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits,
costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Agreement to the extent the Issuer
would be required to do so pursuant to Section 7.07 of the Junior Note Indenture except those
resulting from the Junior Agent’s or any Secured Party’s willful misconduct or gross negligence.

          (d) The agreements in this Section 8.4 shall survive repayment of the Secured Obligations and
termination of the Junior Noteholder Documents.

     8.5 Successors and Assigns.

     This Agreement shall be binding upon the successors and assigns of each Grantor and shall
inure to the benefit of the Junior Agent and the Secured Parties and their successors and assigns;
provided that except as permitted by the Junior Note Indenture, no Grantor may assign, transfer or
delegate any of its rights or obligations under this Agreement without the prior written consent of
the Junior Agent.

     8.6 Set-Off.

     Subject to the Intercreditor Agreement, each Grantor hereby irrevocably authorizes the Junior
Agent and each other Secured Party at any time and from time to time while an Event of Default has
occurred and is continuing, without notice to such Grantor or any other Grantor, any such notice
being expressly waived by each Grantor, to set-off and appropriate and apply any and all deposits
(general or special, time or demand, provisional or final), in any currency, and any other credits,
indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or
contingent, matured or unmatured, at any time held or owing by the Junior Agent or such other
Secured Party to or for the credit or the account of such Grantor, or any part thereof in such
amounts as the Junior Agent or such other Secured Party may elect, against and on account of the
obligations and liabilities of such Grantor to the Junior Agent or such other Secured Party
hereunder and claims of every nature and description of the Junior Agent or such other Secured
Party against such Grantor, in any currency, whether arising hereunder, under the Junior Note
Indenture or any other Junior Noteholder Document, as the Junior Agent or such other Secured Party
may elect, whether or not the Junior Agent or any other Secured Party has made any demand for
payment and although such obligations, liabilities and claims may be contingent or unmatured. The
Junior Agent and each other Secured Party shall endeavor to notify the Issuer promptly of any such
set-off and the application made by the Junior Agent or such other Secured Party of the proceeds
thereof, provided that the failure to give such notice shall not affect the validity of such
set-off and application. The rights of the Junior Agent and each other Secured Party under this
Section 8.6 are in

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addition to other rights and remedies (including, without limitation, other rights of set-off)
which the Junior Agent or such other Secured Party may have.

     8.7 Counterparts.

     This Agreement may be executed by one or more of the parties to this Agreement on any number
of separate counterparts (including by telecopy), and all of said counterparts taken together shall
be deemed to constitute one and the same instrument.

     8.8 Severability.

     Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

     8.9 Section Headings.

     The Section headings used in this Agreement are for convenience of reference only and are not
to affect the construction hereof or be taken into consideration in the interpretation hereof.

     8.10 Integration.

     This Agreement and the other Junior Noteholder Documents represent the agreement of the
Grantors, the Junior Agent and the Secured Parties with respect to the subject matter hereof and
thereof, and there are no promises, undertakings, representations or warranties by the Junior Agent
or any Secured Parties relative to subject matter hereof and thereof not expressly set forth or
referred to herein or in the other Junior Noteholder Documents.

     8.11 GOVERNING LAW.

     THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

     8.12 Submission To Jurisdiction; Waivers.

     Each Grantor hereby irrevocably and unconditionally:

          (a) submits for itself and its property in any legal action or proceeding relating to this
Agreement and the other Junior Noteholder Documents to which it is a party, or for recognition and
enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of the
courts of the State of New York, the courts of the United States of America for the Southern
District of New York, and appellate courts from any thereof;

          (b) consents that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or proceeding in any
such court or that such action or proceeding was brought in an inconvenient court and agrees not to
plead or claim the same;

18

 

          (c) agrees that service of process in any such action or proceeding may be effected by mailing
a copy thereof by registered or certified mail (or any substantially similar form of mail), postage
prepaid, to such Grantor at its address referred to in Section 8.2 or at such other address of
which the Junior Agent shall have been notified pursuant thereto;

          (d) agrees that nothing herein shall affect the right to effect service of process in any
other manner permitted by law or shall limit the right to sue in any other jurisdiction; and

          (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any special, exemplary,
punitive or consequential damages.

     8.13 Acknowledgements.

     Each Grantor hereby acknowledges that:

          (a) it has been advised by counsel in the negotiation, execution and delivery of this
Agreement and the other Junior Noteholder Documents to which it is a party;

          (b) neither the Junior Agent nor any Secured Party has any fiduciary relationship with or duty
to any Grantor arising out of or in connection with this Agreement or any of the other Junior
Noteholder Documents, and the relationship between the Grantors, on the one hand, and the Junior
Agent and Secured Parties, on the other hand, in connection herewith or therewith is solely that of
debtor and creditor; and

          (c) no joint venture is created hereby or by the other Junior Noteholder Document or otherwise
exists by virtue of the transactions contemplated hereby among the Secured Parties or among the
Grantors and the Secured Parties; and

          (d) the Junior Agent may at any time and from time to time appoint a collateral agent to
maintain any of the Collateral, maintain books and records regarding any Collateral, release
Collateral, and assist in any aspect arising in connection with the Collateral as Junior Agent may
desire; and the Junior Agent may appoint itself, any affiliate or a third party as the Collateral
Agent, and all reasonable costs of the collateral agent shall be borne by the Grantors.

     8.14 Additional Grantors.

     Each Restricted Subsidiary of Hovnanian shall become a Grantor for all purposes of this
Agreement upon execution and delivery by such Subsidiary of a Joinder Agreement, substantially in
the form of Exhibit A hereto.

     8.15 Releases.

          (a) Upon the indefeasible payment in full of all outstanding Secured Obligations, the
Collateral shall be automatically released from the Liens created hereby, and this Agreement and
all obligations (other than those expressly stated to survive such termination) of the Junior Agent
and each Grantor hereunder shall automatically terminate, all without delivery of any instrument or
performance of any act by any party, and all rights to the Collateral shall revert to the Grantors.
At the request and sole expense of any Grantor following any such termination, the Junior Agent
shall deliver to such Grantor any Collateral held by the Junior Agent hereunder, and execute and
deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such
termination.

19

 

          (b) If any of the Collateral shall be sold or otherwise transferred pursuant to a transaction
permitted by the Junior Note Indenture, the Liens created hereby on such Collateral shall
automatically terminate to the extent provided for in Section 11.04 of the Junior Note Indenture.
If the Liens on any Collateral are released by the Administrative Agent and the Senior Noteholder
Collateral Agent, the Liens created hereby shall be automatically, unconditionally and
simultaneously released as provided in the Intercreditor Agreement. At the request and sole
expense of such Grantor, the Junior Agent shall deliver to such Grantor any Collateral held by the
Junior Agent hereunder, and execute and deliver to such Grantor such documents as the Grantor shall
reasonably request to evidence such termination or release.

     8.16 Automatic Release of Collateral.

     At any time after the initial execution and delivery of this Agreement to the Secured Parties,
Grantors and their respective Collateral may be released from this Agreement pursuant to Section
11.04 of the Junior Note Indenture, or at the times and to the extent required by the Intercreditor
Agreement. No notice of such release of any Grantor or such Grantor’s Collateral shall be required
to be given to any other Grantor and each Grantor hereby consents thereto.

     8.17 WAIVER OF JURY TRIAL.

     EACH GRANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION
OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER JUNIOR NOTEHOLDER DOCUMENT AND FOR ANY
COUNTERCLAIM THEREIN.

     8.18 Intercreditor Agreement.

     Notwithstanding anything herein to the contrary, the lien and security interest granted to the
Junior Agent pursuant to this Agreement and the exercise of any right or remedy by the Junior Agent
hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any
conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the
Intercreditor Agreement shall govern.

     8.19 Control Agreements.

     In connection with each agreement made at any time pursuant to Sections 9-104 or 8-106 of the
Uniform Commercial Code among the Junior Agent, any one or more Grantors, and any depository
financial institution or issuer of uncertificated mutual fund shares or other uncertificated
securities and any other Persons party thereto, the Junior Agent shall not deliver to any such
depository or issuer, instructions directing the disposition of the deposit or uncertificated fund
shares or other securities unless an Event of Default has occurred and is continuing at such time.

     8.20 Junior Agent Privileges, Powers and Immunities.

     In the performance of its obligations hereunder, the Junior Agent shall be entitled to the
privileges, powers and immunities afforded to it as Collateral Agent under the Junior Note
Indenture. The Junior Agent (including while acting as Perfection Agent) shall be entitled to
refuse to take or refrain from taking any discretionary action or exercise any discretionary powers
set forth in this Agreement unless it has received direction of a majority of Junior Noteholders
with respect thereto. Notwithstanding anything to the contrary contained herein, the Junior Agent
shall have no responsibility for the creation, perfection, priority, sufficiency or protection of
any liens securing Secured Obligations.

20

 

[SIGNATURE PAGE 1 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

     IN WITNESS WHEREOF, each of the undersigned has caused this Security Agreement to be duly
executed and delivered as of the date first above written.

Secured Party:

	 	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY, as Junior Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

 

 

[SIGNATURE PAGE 2 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

Debtors:

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

David G. Valiaveedan
	 	 
	 

	 	Title:
	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 3 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	HOVNANIAN ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

David G. Valiaveedan
	 	 
	 

	 	Title:
	 	Vice-President — Finance	 	 

EASTERN TITLE AGENCY, INC.

FOUNDERS TITLE AGENCY, INC.

GOVERNOR’S ABSTRACT CO., INC.

HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.

K. HOV INTERNATIONAL, INC.

K. HOV IP, II, INC.

K. HOV I P, INC.

K. HOVNANIAN ACQUISITIONS, INC.

K. HOVNANIAN AT BERNARDS IV, INC.

K. HOVNANIAN AT BRANCHBURG III, INC.

K. HOVNANIAN AT BRIDGEPORT, INC.

K. HOVNANIAN AT BRIDGEWATER VI, INC.

K. HOVNANIAN AT BURLINGTON III, INC.

K. HOVNANIAN AT BURLINGTON, INC.

K. HOVNANIAN AT CALABRIA, INC.

K. HOVNANIAN AT CAMERON CHASE, INC.

K. HOVNANIAN AT CARMEL DEL MAR, INC.

K. HOVNANIAN AT CASTILE, INC.

K. HOVNANIAN AT CHAPARRAL, INC.

K. HOVNANIAN AT CLARKSTOWN, INC.

K. HOVNANIAN AT CRESTLINE, INC.

K. HOVNANIAN AT DOMINGUEZ HILLS, INC.

K. HOVNANIAN AT EAST WHITELAND I, INC.

K. HOVNANIAN AT FREEHOLD TOWNSHIP I, INC.

K. HOVNANIAN AT HERSHEY’S MILL, INC.

K. HOVNANIAN AT HACKETTSTOWN, INC.

K. HOVNANIAN AT HIGHLAND VINEYARDS, INC.

K. HOVNANIAN AT HOPEWELL IV, INC.

 

 

[SIGNATURE PAGE 4 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT HOPEWELL VI, INC.

K. HOVNANIAN AT HOWELL TOWNSHIP, INC.

K. HOVNANIAN AT KINGS GRANT I, INC.

K. HOVNANIAN AT LA TERRAZA, INC.

K. HOVNANIAN AT LAKEWOOD, INC.

K. HOVNANIAN AT LOWER SAUCON, INC.

K. HOVNANIAN AT MAHWAH II, INC.

K. HOVNANIAN AT MAHWAH VI, INC.

K. HOVNANIAN AT MAHWAH VII, INC.

K. HOVNANIAN AT MANALAPAN, INC.

K. HOVNANIAN AT MARLBORO II, INC.

K. HOVNANIAN AT MARLBORO TOWNSHIP III, INC.

K. HOVNANIAN AT MARLBORO TOWNSHIP IV, INC.

K. HOVNANIAN AT MONTGOMERY I, INC.

K. HOVNANIAN AT MONROE II, INC.

K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.

K. HOVNANIAN AT NORTHLAKE, INC.

K. HOVNANIAN AT OCEAN TOWNSHIP, INC.

K. HOVNANIAN AT OCEAN WALK, INC.

K. HOVNANIAN AT PERKIOMEN I, INC.

K. HOVNANIAN AT PERKIOMEN II, INC.

K. HOVNANIAN AT RANCHO CRISTIANITOS, INC.

K. HOVNANIAN AT RESERVOIR RIDGE, INC.

K. HOVNANIAN AT SAN SEVAINE, INC.

K. HOVNANIAN AT SARATOGA, INC.

K. HOVNANIAN AT SAWMILL, INC.

K. HOVNANIAN AT SCOTCH PLAINS II, INC.

K. HOVNANIAN AT SMITHVILLE, INC.

K. HOVNANIAN AT SOUTH BRUNSWICK V, INC.

K. HOVNANIAN AT STONE CANYON, INC.

K. HOVNANIAN AT STONY POINT, INC.

K. HOVNANIAN AT SYCAMORE, INC.

K. HOVNANIAN AT TANNERY HILL, INC.

K. HOVNANIAN AT THE BLUFF, INC.

K. HOVNANIAN AT THORNBURY, INC.

 

 

[SIGNATURE PAGE 5 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT TIERRASANTA, INC.

K. HOVNANIAN AT TROVATA, INC.

K. HOVNANIAN AT TUXEDO, INC.

K. HOVNANIAN AT UNION TOWNSHIP I, INC.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP I, INC.

K. HOVNANIAN AT UPPER MAKEFIELD I, INC.

K. HOVNANIAN AT VAIL RANCH, INC.

K. HOVNANIAN AT WALL TOWNSHIP VI, INC.

K. HOVNANIAN AT WALL TOWNSHIP VIII, INC.

K. HOVNANIAN AT WASHINGTONVILLE, INC.

K. HOVNANIAN AT WAYNE III, INC.

K. HOVNANIAN AT WAYNE V, INC.

K. HOVNANIAN AT WILDROSE, INC.

K. HOVNANIAN COMMUNITIES, INC.

K. HOVNANIAN COMPANIES NORTHEAST, 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 OF VIRGINIA, INC.

K. HOVNANIAN CONSTRUCTION II, INC.

K. HOVNANIAN CONSTRUCTION III, INC.

K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.

K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.

K. HOVNANIAN DEVELOPMENTS OF CONNECTICUT, 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 INDIANA, INC.

 

 

[SIGNATURE PAGE 6 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

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

K. HOVNANIAN FORECAST HOMES NORTHERN, INC.

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.

K. HOVNANIAN HOMES OF VIRGINIA, INC.

K. HOVNANIAN PA REAL ESTATE, INC.

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.

K. HOVNANIAN PROPERTIES OF RED BANK, INC.

LANDARAMA, INC.

M&M AT LONG BRANCH, INC.

MCNJ, INC.

SEABROOK ACCUMULATION CORPORATION

 

 

[SIGNATURE PAGE 7 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

STONEBROOK HOMES, INC.

THE MATZEL & MUMFORD ORGANIZATION, INC.

WASHINGTON HOMES, INC.

WESTMINSTER HOMES, INC.

WESTMINSTER HOMES OF TENNESSEE, INC.

WH LAND I, INC.

WH PROPERTIES, INC.

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	On behalf of, and as Vice-President — Finance of each
of the foregoing corporations	 	 

 

 

[SIGNATURE PAGE 8 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF D.C., L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of D.C., Inc., as the sole member of the
foregoing limited liability company	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

FOUNDERS TITLE AGENCY OF MARYLAND, L.L.C.

GREENWAY FARMS UTILITY ASSOCIATES, L.L.C.

HOMEBUYERS FINANCIAL SERVICES, L.L.C.

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

HOVNANIAN LAND INVESTMENT GROUP, L.L.C.

K. HOVNANIAN AT KING FARM, L.L.C.

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

K. HOVNANIAN AT WILLOW BROOK, L.L.C.

K. HOVNANIAN COMPANIES METRO D.C. NORTH, L.L.C.

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.

K. HOVNANIAN HOMES AT CIDER MILL, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Maryland, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 9 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

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 RENAISSANCE PLAZA, L.L.C.

K. HOVNANIAN HOMES AT RUSSETT, L.L.C.

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

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 ST. MARGARETS LANDING, L.L.C.

RIDGEMORE UTILITY, L.L.C.

WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C.

WH/PR LAND COMPANY, L.L.C.

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

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Maryland, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 10 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

ALFORD, L.L.C.

DULLES COPPERMINE, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF VIRGINIA, L.L.C.

K. HOVNANIAN AT LAKE RIDGE CROSSING, L.L.C.

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.

K. HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, L.L.C.

K. HOVNANIAN HOMES AT CAMERON STATION, L.L.C.

K. HOVNANIAN HOMES AT BELMONT OVERLOOK, L.L.C.

K. HOVNANIAN HOMES AT PAYNE STREET, L.L.C.

K. HOVNANIAN HOMES AT VICTORIA STATION, L.L.C.

K. HOVNANIAN SUMMIT HOLDINGS, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT ASHBURN VILLAGE, L.L.C.

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

K. HOVNANIAN’S FOUR SEASONS AT DULLES DISCOVERY CONDOMINIUM,
L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT DULLES DISCOVERY, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT VINT HILL, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Virginia, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 11 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

AUDDIE ENTERPRISES, L.L.C.

BUILDER SERVICES NJ, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF NEW JERSEY, L.L.C.

K. HOVNANIAN AT ABERDEEN URBAN RENEWAL, L.L.C.

K. HOVNANIAN AT ALLENDALE, L.L.C.

K. HOVNANIAN AT BARNEGAT I, L.L.C.

K. HOVNANIAN AT BARNEGAT II, L.L.C.

K. HOVNANIAN AT BARNEGAT III, L.L.C.

K. HOVNANIAN AT BERKELEY, L.L.C.

K. HOVNANIAN AT BERNARDS V, L.L.C.

K. HOVNANIAN AT BLUE HERON PINES, L.L.C.

K. HOVNANIAN AT BRIDGEWATER I, L.L.C

K. HOVNANIAN AT CAMDEN I, L.L.C.

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

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

K. HOVNANIAN AT CHESTER I, L.L.C.

K. HOVNANIAN AT CHESTERFIELD, L.L.C.

K. HOVNANIAN AT CHESTERFIELD II, L.L.C.

K. HOVNANIAN AT CLIFTON II, L.L.C.

K. HOVNANIAN AT CLIFTON, L.L.C.

K. HOVNANIAN AT CRANBURY, L.L.C.

K. HOVNANIAN AT CURRIES WOODS, L.L.C.

K. HOVNANIAN AT DENVILLE, L.L.C.

K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.

K. HOVNANIAN AT DOVER, L.L.C.

K. HOVNANIAN AT EDGEWATER II, L.L.C.

K. HOVNANIAN AT EDGEWATER, L.L.C.

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

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

K. HOVNANIAN AT ELK TOWNSHIP, L.L.C.

K. HOVNANIAN AT FIFTH AVENUE, L.L.C.

K. HOVNANIAN AT FLORENCE I, L.L.C.

K. HOVNANIAN AT FLORENCE II, L.L.C.

 

 

[SIGNATURE PAGE 12 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT FOREST MEADOWS, L.L.C.

K. HOVNANIAN AT FRANKLIN, L.L.C.

K. HOVNANIAN AT FREEHOLD TOWNSHIP, L.L.C.

K. HOVNANIAN AT GALLOWAY, L.L.C.

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 CONTRACTORS, L.L.C.

K. HOVNANIAN AT HAMBURG, L.L.C.

K. HOVNANIAN AT HAWTHORNE, L.L.C

K. HOVNANIAN AT HAZLET, L.L.C.

K. HOVNANIAN AT HILLTOP, L.L.C.

K. HOVNANIAN AT JACKSON I, L.L.C.

K. HOVNANIAN AT JACKSON, L.L.C.

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 LAFAYETTE ESTATES, L.L.C.

K. HOVNANIAN AT LAWRENCE V, L.L.C.

K. HOVNANIAN AT LINWOOD, L.L.C.

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

K. HOVNANIAN AT LITTLE EGG HARBOR CONTRACTORS, L.L.C.

K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C.

K. HOVNANIAN AT LITTLE EGG HARBOR III, L.L.C.

K. HOVNANIAN AT LONG BRANCH I, 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 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.

 

 

[SIGNATURE PAGE 13 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT MARLBORO VI, L.L.C.

K. HOVNANIAN AT MARLBORO VII, L.L.C.

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.

K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C.

K. HOVNANIAN AT MIDDLE TOWNSHIP II, L.L.C.

K. HOVNANIAN AT MIDDLETOWN II, L.L.C.

K. HOVNANIAN AT MIDDLETOWN, L.L.C.

K. HOVNANIAN AT MILLVILLE I, L.L.C.

K. HOVNANIAN AT MILLVILLE II, L.L.C.

K. HOVNANIAN AT MILLVILLE III, L.L.C.

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

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

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

K. HOVNANIAN AT MONTVALE, L.L.C.

K. HOVNANIAN AT MT. OLIVE TOWNSHIP, L.L.C.

K. HOVNANIAN AT NEW BRUNSWICK URBAN RENEWAL, 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, L.L.C.

K. HOVNANIAN AT NORTH HALEDON, L.L.C.

K. HOVNANIAN AT NORTH WILDWOOD, L.L.C.

K. HOVNANIAN AT NORTHFIELD, L.L.C.

K. HOVNANIAN AT OCEANPORT, L.L.C.

K. HOVNANIAN AT OLD BRIDGE, L.L.C.

K. HOVNANIAN AT PARAMUS, L.L.C.

K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C.

K. HOVNANIAN AT PEAPACK-GLADSTONE, 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.

 

 

[SIGNATURE PAGE 14 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

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 PRINCETON LANDING, L.L.C.

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

K. HOVNANIAN AT RANDOLPH I, L.L.C.

K. HOVNANIAN AT READINGTON II, L.L.C.

K. HOVNANIAN AT RED BANK, L.L.C.

K. HOVNANIAN AT RIDGEMONT, L.L.C.

K. HOVNANIAN AT SAYREVILLE, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.

K. HOVNANIAN AT SMITHVILLE III, L.L.C.

K. HOVNANIAN AT SOMERS POINT, L.L.C.

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.

K. HOVNANIAN AT SPARTA, L.L.C.

K. HOVNANIAN AT SPRINGCO, L.L.C.

K. HOVNANIAN AT TEANECK, L.L.C.

K. HOVNANIAN AT THE MONARCH, L.L.C.

K. HOVNANIAN AT TRENTON, L.L.C.

K. HOVNANIAN AT UNION TOWNSHIP II, L.L.C.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP II, L.L.C.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP III, L.L.C.

K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C.

K. HOVNANIAN AT VINELAND, L.L.C.

K. HOVNANIAN AT WANAQUE, L.L.C.

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.

K. HOVNANIAN AT WASHINGTON, L.L.C.

K. HOVNANIAN AT WAYNE IX, L.L.C.

K. HOVNANIAN AT WAYNE VIII, L.L.C.

K. HOVNANIAN AT WEST MILFORD, L.L.C.

K. HOVNANIAN AT WEST WINDSOR, L.L.C.

 

 

[SIGNATURE PAGE 15 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.

K. HOVNANIAN AT WOODHILL ESTATES, L.L.C.

K. HOVNANIAN AT WOOLWICH I, L.L.C.

K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.

K. HOVNANIAN CHESTERFIELD INVESTMENT, L.L.C.

K. HOVNANIAN CLASSICS, L.L.C.

K. HOVNANIAN CLASSICS CIP, L.L.C.

K. HOVNANIAN HOMES — DFW, L.L.C.

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

K. HOVNANIAN OF HOUSTON II, L.L.C.

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 SHORE ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTHERN NEW JERSEY, L.LC.

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.

K. HOVNANIAN T&C INVESTMENT, L.L.C.

K. HOVNANIAN VENTURE I, L.L.C.

K. HOVNANIAN’S PRIVATE HOME PORTFOLIO, L.L.C.

TERRAPIN REALTY, L.L.C.

KHIP, L.L.C.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Holdings NJ, L.L.C., as the sole member of each of the
foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc.,
as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,
Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 16 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	F&W MECHANICAL SERVICES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Holdings NJ, L.L.C., as the managing member of the
foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc.,
as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,
Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 17 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT HUDSON POINTE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., its sole member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc.,
as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,
Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 18 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	PARK TITLE COMPANY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian of Houston II, L.L.C., its sole member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., its sole
member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey,
Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey
II, Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 19 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

HOVNANIAN LAND INVESTMENT GROUP OF CALIFORNIA, L.L.C.

K.H. SAN MARCOS CONSERVANCY HOLDINGS, L.L.C.

K. HOVNANIAN AT 3 CHAPMAN, L.L.C.

K. HOVNANIAN AT 4S, L.L.C.

K. HOVNANIAN AT ACQUA VISTA, L.L.C.

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

K. HOVNANIAN AT ARBOR HEIGHTS, L.L.C.

K. HOVNANIAN AT AVENUE ONE, L.L.C.

K. HOVNANIAN AT BELLA LAGO, L.L.C.

K. HOVNANIAN AT BRIDLEWOOD, L.L.C.

K. HOVNANIAN AT CAPISTRANO, L.L.C.

K. HOVNANIAN AT CARMEL VILLAGE, L.L.C.

K. HOVNANIAN AT CIELO, L.L.C.

K. HOVNANIAN AT COASTLINE, L.L.C.

K. HOVNANIAN AT CORTEZ HILL, L.L.C.

K. HOVNANIAN AT EASTLAKE, L.L.C.

K. HOVNANIAN AT ENCINITAS RANCH, L.L.C.

K. HOVNANIAN AT EVERGREEN, L.L.C.

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. HOVNANIAN AT HIGHWATER, L.L.C.

K.
HOVNANIAN AT LA COSTA, LLC

K. HOVNANIAN AT LA COSTA GREENS, L.L.C.

K. HOVNANIAN AT LA HABRA KNOLLS, L.L.C.

K. HOVNANIAN AT LAKE HILLS, L.L.C.

K. HOVNANIAN AT LAKE RANCHO VIEJO, L.L.C.

K. HOVNANIAN AT MATSU, L.L.C.

K. HOVNANIAN AT MENIFEE, L.L.C.

K. HOVNANIAN AT MOCKINGBIRD CANYON, L.L.C.

K. HOVNANIAN AT MOSAIC, L.L.C.

K. HOVNANIAN AT OLDE ORCHARD, L.L.C.

K. HOVNANIAN AT ORANGE HEIGHTS, L.L.C.

K. HOVNANIAN AT PACIFIC BLUFFS, L.L.C.

K. HOVNANIAN AT PARK LANE, L.L.C.

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C.

 

 

[SIGNATURE PAGE 20 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

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

K. HOVNANIAN AT RANCHO SANTA MARGARITA, L.L.C.

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

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

K. HOVNANIAN AT ROWLAND HEIGHTS, L.L.C.

K. HOVNANIAN AT SAGE, L.L.C.

K. HOVNANIAN AT SKYE ISLE, L.L.C.

K. HOVNANIAN AT SUNSETS, L.L.C.

K. HOVNANIAN AT THE CROSBY, L.L.C.

K. HOVNANIAN AT THE GABLES, L.L.C.

K. HOVNANIAN AT THE PRESERVE, L.L.C.

K. HOVNANIAN AT THOMPSON RANCH, L.L.C.

K. HOVNANIAN AT TRAIL RIDGE, L.L.C.

K. HOVNANIAN AT WINCHESTER, L.L.C.

K. HOVNANIAN INTERNATIONAL, L.L.C.

K. HOVNANIAN T&C MANAGEMENT CO., L.L.C.

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

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

K. HOVNANIAN’S FOUR SEASONS AT HEMET, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT MENIFEE VALLEY, L.L.C.

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

K. HOVNANIAN’S FOUR SEASONS, L.L.C.

K. HOVNANIAN’S PARKSIDE AT TOWNGATE, L.L.C.

NATOMAS CENTRAL NEIGHBORHOOD HOUSING, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of California, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 21 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOLDINGS NJ, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of New Jersey, Inc., as member of the
foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of New Jersey II, Inc., as member of the
foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 22 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

BUILDER SERVICES, PA, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF PENNSYLVANIA, L.L.C.

K. HOVNANIAN AT ALLENBERRY, L.L.C.

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

K. HOVNANIAN AT BROAD AND WALNUT, L.L.C.

K. HOVNANIAN AT CAMP HILL, L.L.C.

K HOVNANIAN AT EAST BRANDYWINE, L.L.C.

K HOVNANIAN AT FORKS TWP. I, 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 LOWER MORELAND III, L.L.C.

K. HOVNANIAN AT MACUNGIE, L.L.C.

K. HOVNANIAN AT NORTHAMPTON, L.L.C.

K. HOVNANIAN AT PHILADELPHIA II, L.L.C.

K. HOVNANIAN AT PHILADELPHIA III, L.L.C.

K. HOVNANIAN AT PHILADELPHIA IV, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Companies of Pennsylvania, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 23 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

K. HOVNANIAN AT SILVER SPRING, L.L.C.

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

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

K. HOVNANIAN AT WEST BRADFORD, L.L.C.

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

K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.

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

MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF

PENNSYLVANIA, L.L.C.

RIDGEMORE UTILITY ASSOCIATES OF PENNSYLVANIA, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Companies of Pennsylvania, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 

 

 

[SIGNATURE PAGE 24 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN CAMBRIDGE HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN FIRST HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN FLORIDA REALTY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN STANDING ENTITY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN T&C HOMES AT FLORIDA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN WINDWARD HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Hovnanian
Developments of Florida, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 25 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN COMPANIES, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Enterprises, Inc., as member of the foregoing limited
liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	AND
	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of New Jersey II, Inc., as member of the
foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian at
Perkiomen II, Inc., as the sole member of the foregoing
limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 26 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN FOUR SEASONS AT GOLD HILL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF SOUTH CAROLINA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of South Carolina, Inc., as the sole member
of each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN GREAT WESTERN HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	NEW LAND TITLE AGENCY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Arizona, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 27 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT RIDGESTONE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN T&C HOMES AT MINNESOTA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Minnesota, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 28 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN OHIO REALTY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN OSTER HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR 

SERVICES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Ohio, Inc., as the sole member of each
of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 29 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT HUNTFIELD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST
VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of West Virginia, Inc., as the sole member
of each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF MICHIGAN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF MICHIGAN,
L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Michigan, Inc., as the sole member of
the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 30 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	M&M AT CHESTERFIELD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT APPLE RIDGE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT EAST MILL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT MORRISTOWN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SHERIDAN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SPINNAKER POINTE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SPRUCE HOLLOW, L.L.C.	 	 
	 
	 	 	M&M AT SPRUCE RUN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT THE HIGHLANDS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT EGG HARBOR, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT MONTGOMERY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	THE LANDINGS AT SPINNAKER POINTE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	The Matzel &
Mumford Organization, Inc., as the sole member of each
of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 31 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	M & M AT COPPER BEECH, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT CRESCENT COURT, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT EAST RUTHERFORD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT KENSINGTON WOODS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT STATION SQUARE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT UNION, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT TAMARACK HOLLOW, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT THE CHATEAU, L.LC.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WEST ORANGE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WESTPORT, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WHEATENA URBAN RENEWAL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MMIP, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	M&M Investments,
L.P., as the sole member of each of the foregoing
limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 32 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT FAIRWOOD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT JONES STATION 1, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT JONES STATION 2, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT MAXWELL PLACE. L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT PRIMERA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PADDOCKS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	PINE AYR, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Homes of Maryland, L.L.C., as the sole member of each of
the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	David G. Valiaveedan	 	 
	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF TEXAS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Homes — DFW, L.L.C., as the sole member of the foregoing
limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., as the sole
member of the foregoing limited liability
company.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 33 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT NEW WINDSOR, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	BUILDER SERVICES NY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT HAMPTONBURGH, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian at
Northern Westchester, Inc., as the sole member of each
of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN DELAWARE ACQUISITIONS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF DELAWARE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT NASSAU GROVE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Delaware, Inc., as the sole member of
the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 34 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT MENIFEE VALLEY CONDOMINIUMS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian’s
Four Seasons At Menifee Valley, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF NORTH CAROLINA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of North Carolina, Inc., as the sole member
of the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 35 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT BAILEY’S GLENN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Homes of North Carolina, Inc. as the sole member of the
foregoing limited liability companies	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 36 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF INDIANA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Indiana, Inc., as the sole member of the
foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR 

SERVICES OF KENTUCKY,
L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Kentucky, Inc., as the sole member of
the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 37 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN CONNECTICUT ACQUISITIONS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Connecticut, Inc., as the sole member of
the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Illinois, Inc., as the sole member of
the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF GEORGIA, L.L.C	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF GEORGIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian
Developments of Georgia, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 38 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	WESTMINSTER HOMES OF ALABAMA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	WESTMINSTER HOMES OF MISSISSIPPI, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Washington Homes,
Inc., as sole member of each of the foregoing limited
liability companies.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	David G. Valiaveedan	 	 
	 	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT EWING, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian at Lakewood, Inc., as sole member
of the foregoing limited liability company	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan	 	 
	 

	 	 	 	 	 	 	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 39 OF 39 TO THE THIRD LIEN SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	M&M INVESTMENTS, L.P.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	The Matzel &
Mumford Organization, Inc., as general partner of the
foregoing limited partnership.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices for each of the foregoing Debtors:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	c/o K. Hovnanian Enterprises, Inc.	 	 
	 	 	110 West Front St., P.O. Box 500	 	 
	 	 	Red Bank, NJ 07701	 	 
	 	 	Attention: David G. Valiaveedan	 	 
	 	 	Telephone: (732) 747-7800	 	 
	 	 	Telecopy: (732) 747-6835	 	 

 

 

SCHEDULE A

Cash Collateral Accounts

 

 

SCHEDULE B

Commercial Tort Claims

 

 

SCHEDULE C

Actions Required to Perfect

	1.	 	With respect to each Loan Party organized under the laws of the state of Alabama as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Alabama Secretary of State.
	 
	2.	 	With respect to each Loan Party organized under the laws of the state of Arizona as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Arizona Secretary of State.
	 
	3.	 	With respect to each Loan Party organized under the laws of the state of California as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the California Secretary of State.
	 
	4.	 	With respect to each Loan Party organized under the laws of the state of Connecticut as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral the Connecticut Secretary of State.
	 
	5.	 	With respect to each Loan Party organized under the laws of the state of Delaware as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Delaware Secretary of State.
	 
	6.	 	With respect to each Loan Party organized under the laws of the District of Columbia as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the District of Columbia Recorder of
Deeds.
	 
	7.	 	With respect to each Loan Party organized under the laws of the state of Florida as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Florida Secured Transaction
Registry.
	 
	8.	 	With respect to each Loan Party organized under the laws of the state of Georgia as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Office of the Clerk of Superior
Court of any County of Georgia.
	 
	9.	 	With respect to each Loan Party organized under the laws of the state of Illinois as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Illinois Secretary of State.
	 
	10.	 	With respect to each Loan Party organized under the laws of the state of Indiana as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Indiana Secretary of State.
	 
	11.	 	With respect to each Loan Party organized under the laws of the state of Kentucky as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Kentucky Secretary of State.

 

 

	12.	 	With respect to each Loan Party organized under the laws of the state of Maryland as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Maryland State Department of
Assessments and Taxation.
	 
	13.	 	With respect to each Loan Party organized under the laws of the state of Michigan as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Michigan Secretary of State.
	 
	14.	 	With respect to each Loan Party organized under the laws of the state of Minnesota as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Minnesota Secretary of State.
	 
	15.	 	With respect to each Loan Party organized under the laws of the state of Mississippi as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Mississippi Secretary of State.
	 
	16.	 	With respect to each Loan Party organized under the laws of the state of New Jersey as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the New Jersey Division of Commercial
Recording.
	 
	17.	 	With respect to each Loan Party organized under the laws of the state of New York as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the New York Secretary of State.
	 
	18.	 	With respect to each Loan Party organized under the laws of the state of North Carolina as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the North Carolina Secretary of
State.
	 
	19.	 	With respect to each Loan Party organized under the laws of the state of Ohio as identified
on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing Statement
that reasonably identifies the Collateral with the Ohio Secretary of State.
	 
	20.	 	With respect to each Loan Party organized under the laws of the state of Pennsylvania as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Pennsylvania Secretary of the
Commonwealth.
	 
	21.	 	With respect to each Loan Party organized under the laws of the state of South Carolina as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the South Carolina Secretary of
State.
	 
	22.	 	With respect to each Loan Party organized under the laws of the state of Tennessee as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Tennessee Secretary of State.
	 
	23.	 	With respect to each Loan Party organized under the laws of the state of Texas as identified
on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing Statement
that reasonably identifies the Collateral with the Texas Secretary of State.

 

 

	24.	 	With respect to each Loan Party organized under the laws of the state of Virginia as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the Virginia State Corporation
Commission.
	 
	25.	 	With respect to each Loan Party organized under the laws of the state of West Virginia as
identified on Schedule D of this Agreement, the filing of a Uniform Commercial Code Financing
Statement that reasonably identifies the Collateral with the West Virginia Secretary of State.
	 
	26.	 	With respect to the Securities Accounts and the Deposit Accounts, the bank with which such
Securities Account and such Deposit Account are maintained agreeing that it will comply with
instructions originated by the Perfection Agent directing disposition of the funds in such
Securities Account and such Deposit Account without further consent of the relevant Grantor.
	 
	27.	 	With respect to each Grantor, the filing of a short form security agreement that reasonably
identifies such Grantor’s registered and applied for Trademarks with the United States Patent
and Trademark Office.
	 
	28.	 	With respect to each Grantor, the filing of a short form security agreement that reasonably
identifies such Grantor’s Patents and Patent applications with the United States Patent and
Trademark Office.
	 
	29.	 	With respect to each Grantor, the filing of a short form security agreement that reasonably
identifies such Grantor’s registered and applied for Copyrights with the United States
Copyright Office.

 

 

SCHEDULE D

Certain Information relating to Grantors

 

 

EXHIBIT A

Form of Joinder Agreement

This JOINDER AND ASSUMPTION AGREEMENT is made                      by
                                        , a                                         
 (the “New Grantor”).

Reference is made to (i) the Indenture, dated as of December 3, 2008 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Junior Note Indenture”)
between the K. Hovnanian Enterprises, Inc., a California corporation (“Issuer”), Hovnanian
Enterprises, Inc., a Delaware corporation (“Hovnanian”), each of the other Guarantors party
thereto and Wilmington Trust Company as trustee (in such capacity, the “Junior Trustee”),
pursuant to which the Issuer issued its 18.0% Senior Secured Notes due 2017 (collectively, and
together with any additional notes issued under such Junior Note Indenture, the “Junior
Notes”); (ii) the Supplemental Indenture dated [___] pursuant to which the New Grantor became
party to the Indenture as a Guarantor, (iii) the Third Lien Security Agreement by each of the
Grantors (as defined therein) in favor of the Junior Trustee as collateral agent (in such capacity,
the “Junior Agent”) for the benefit of itself, the Junior Trustee and the Junior
Noteholders (as the same may be modified, supplemented, amended or restated, the “Security
Agreement”), (iv) the Third Lien Pledge Agreement by each of the Pledgors (as defined therein)
in favor of the Junior Agent for the benefit of itself, the Junior Trustee and the Junior
Noteholders (as the same may be modified, supplemented, amended or restated, the “Pledge
Agreement”) and (v) the Intercreditor Agreement dated as of December 3, 2008 among the Issuer,
Hovnanian, each other Grantor (as defined therein), the Junior Trustee, the Junior Agent, PNC Bank,
National Association, as First-Lien Administrative Agent and Senior Credit Agent, the Senior
Trustee (as defined therein), the Senior Noteholder Collateral Agent (as defined therein) and
Wilmington Trust Company, as Mortgage Tax Collateral Agent (as the same may be modified,
supplemented, amended or restated, the “Intercreditor Agreement”). Capitalized terms used
but not otherwise defined herein shall have the meaning set forth in the Security Agreement or, if
not defined therein, the Pledge Agreement and/or the Intercreditor Agreement.

The New Grantor hereby agrees that effective as of the date hereof it hereby is, and shall be
deemed to be, a Grantor under the Security Agreement and the Intercreditor Agreement and a Pledgor
under the Pledge Agreement and agrees that from the date hereof until the payment in full of the
Secured Obligations and the performance of all other obligations of Issuer under the Junior
Noteholder Documents, New Grantor has assumed the obligations of a Grantor and Pledgor under, and
New Grantor shall perform, comply with and be subject to and bound by, jointly and severally, each
of the terms, provisions and waivers of, the Security Agreement, the Pledge Agreement, the
Intercreditor Agreement and each of the other Junior Noteholder Documents which are stated to apply
to or are made by a Grantor. Without limiting the generality of the foregoing, the New Grantor
hereby represents and warrants that each of the representations and warranties set forth in the
Intercreditor Agreement, the Security Agreement and the Pledge Agreement is true and correct as to
New Grantor on and as of the date hereof as if made on and as of the date hereof by New Grantor.

New Grantor hereby makes, affirms, and ratifies in favor of the Secured Parties and the Junior
Agent the Security Agreement, the Pledge Agreement, the Intercreditor Agreement and each of the
other Junior Noteholder Documents given by the Grantors to the Junior Agent. In furtherance of the
foregoing, New Grantor shall execute and deliver or cause to be executed and delivered at any time
and from time to time such further instruments and documents and do or cause to be done such
further acts as may be reasonably necessary to carry out more effectively the provisions and
purposes of this Joinder Agreement.

 

 

IN WITNESS WHEREOF, the New Grantor has duly executed this Joinder Agreement and delivered the same
to the Junior Agent for the benefit of the Secured Parties, as of the date and year first written
above.

	 	 	 	 	 
	 

	 	[NAME OF NEW GRANTOR]	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Title:EX-10.4

Exhibit 10.4

INTELLECTUAL PROPERTY SECURITY AGREEMENT

     This Intellectual Property Security Agreement (the “Agreement”), dated as of December
3, 2008 is made by each of the pledgors signatory hereto (together with any other entity that may
become a party hereto as provided herein, each a “Pledgor” and collectively, the
“Pledgors”), in favor of Wilmington Trust Company, as Collateral Agent (in such capacity,
the “Junior Agent”) for the benefit of itself, the Junior Trustee (as defined below) and
the Junior Noteholders (as defined below).

     WHEREAS, pursuant to the Seventh Amended and Restated Credit Agreement, dated as of March 7,
2008, as amended by Amendment No. 1 to Seventh Amended and Restated Credit Agreement dated as of
May 16, 2008 (as further amended, restated, supplemented or otherwise modified from time to time,
the “Credit Agreement”) among K. Hovnanian Enterprises, Inc., a California corporation (the
“Issuer”), Hovnanian Enterprises, Inc., a Delaware corporation (“Hovnanian”), the
Lenders now or hereafter party thereto (the “Lenders”), and PNC Bank National Association,
as administrative agent (the “Administrative Agent”), the Lenders have provided certain
loans and other financial accommodations to the Issuer;

     WHEREAS, the Issuer, Hovnanian and each of the other Guarantors (as defined in the Senior Note
Indenture) entered into the Indenture, dated as of May 27, 2008 (as amended, supplemented, amended
and restated or otherwise modified from time to time, the “Senior Note Indenture”) with
Wilmington Trust Company (as successor to Deutsche Bank National Trust Company) as trustee (in such
capacity, together with its successors and assigns, the “Senior Trustee”), pursuant to
which the Issuer issued its 11 1/2 % Senior Secured Notes due 2013;

     WHEREAS, the Issuer, Hovnanian and each of the other Guarantors (as defined in the Junior Note
Indenture) have entered into the Indenture, dated as of December 3, 2008 (as amended, supplemented,
amended and restated or otherwise modified from time to time, the “Junior Note Indenture”)
with Wilmington Trust Company as trustee (in such capacity, the “Junior Trustee”) pursuant
to which the Issuer issued its 18.0% Senior Secured Notes due 2017 (collectively, the “Junior
Notes”);

     WHEREAS, the Issuer, Hovnanian, certain subsidiaries of Hovnanian party thereto, PNC Bank,
National Association, as Senior Credit Agent and First-Lien Administrative Agent, the Senior
Trustee, the Senior Noteholder Collateral Agent, the Junior Trustee, the Junior Agent and
Wilmington Trust Company, as Mortgage Tax Collateral Agent have entered into the Intercreditor
Agreement, dated as of December 3, 2008 (as amended, supplemented, amended or restated or otherwise
modified from time to time, the “Intercreditor Agreement”);

     WHEREAS, the Issuer is a member of an affiliated group of companies that includes Hovnanian,
the Issuer’s parent company, and each other Pledgor;

     WHEREAS, the Issuer and the other Pledgors are engaged in related businesses, and each Pledgor
will derive substantial direct and indirect benefit from the issuance of the Junior Notes;

     WHEREAS, pursuant to and under the Junior Note Indenture and the Third Lien Security Agreement
dated as of December 3, 2008 (the “Junior Noteholder Security Agreement”) among the parties
hereto, the Issuer and the other Pledgors have agreed to enter into this agreement in order to
grant
a security interest to the Junior Agent in certain patents, trademarks, copyrights and other
property as security for such loans and other obligations as more fully described herein.

 

 

     NOW, THEREFORE, intending to be legally bound hereby, the parties hereto agree as follows:

     1. Defined Terms.

          (a) Except as otherwise expressly provided herein, (i) capitalized terms used in this
Agreement shall have the respective meanings assigned to them in the Junior Noteholder Security
Agreement and (ii) the rules of construction set forth in Section 1.02 of the Junior Note Indenture
shall apply to this Agreement. Where applicable and except as otherwise expressly provided herein,
in the Junior Note Indenture or the Intercreditor Agreement, terms used herein (whether or not
capitalized) shall have the respective meanings assigned to them in the Uniform Commercial Code as
enacted in New York as amended from time to time (the “Code”).

          (b) “Copyright Licenses” shall mean any written agreement naming any Pledgor as
licensor or licensee, granting any right under any Copyright, including, without limitation, the
grant of rights to distribute, exploit and sell materials derived from any Copyright, including,
without limitation, any of the foregoing referred to in Schedule A.

          (c) “Copyrights” shall mean (i) all copyrights arising under the laws of the United
States, any other country or any political subdivision thereof, whether registered or unregistered
and whether published or unpublished, all registrations and recordings thereof, and all
applications in connection therewith, including, without limitation, all registrations, recordings
and applications in the United States Copyright Office referred to in Schedule A, and (ii)
the right to obtain all renewals thereof.

          (d) “Intellectual Property” shall mean the collective reference to all rights,
priorities and privileges, whether arising under United States, multinational or foreign laws, in,
to and under the Copyrights, the Copyright Licenses, the Patents, the Patent Licenses, the
Trademarks and the Trademark Licenses, and all rights to sue at law or in equity for any
infringement or other impairment thereof, including the right to receive all proceeds and damages
therefrom.

          (e) “Junior Noteholder” means the “Holder” or “Holder of Notes” as defined in the
Junior Note Indenture.

          (f) “Patent License” shall mean all written agreements providing for the grant by or
to any Pledgor of any right to manufacture, use or sell any invention covered in whole or in part
by a Patent, including, without limitation, any of the foregoing referred to in Schedule A.

          (g) “Patents” shall mean (i) all letters patent of the United States, any other
country or any political subdivision thereof, all reissues and extensions thereof, including,
without limitation, any of the foregoing referred to in Schedule A, (ii) all applications
for letters patent of the United States or any other country and all divisions, continuations and
continuations-in-part thereof, including, without limitation, any of the foregoing referred to in
Schedule A, and (iii) all rights to obtain any reissues or extensions of the foregoing.

          (h) “Trademarks” shall mean (i) all trademarks, trade names, corporate names, company
names, business names, fictitious business names, trade styles, service marks, logos and other
source or business identifiers, and all goodwill associated therewith, now owned or hereafter
acquired, all registrations and recordings thereof, and all applications in connection therewith,
whether in the United States Patent and Trademark Office or in any similar office or agency of the
United States, any State
thereof or any other country or any political subdivision thereof, and all common-law rights related

-2-

 

thereto, including, without limitation, any of the foregoing referred to in Schedule
A, and (ii) the right to obtain all renewals thereof.

          (i) “Trademark License” shall mean any written agreement providing for the grant by or
to any Pledgor of any right to use any Trademark, including, without limitation, any of the
foregoing referred to in Schedule A.

     2. To secure the full payment and performance of all Secured Obligations, each Pledgor hereby
grants, and conveys a security interest to Junior Agent in the entire right, title and interest of
such Pledgor in and to all of its Intellectual Property; provided, however, that notwithstanding
any of the other provisions set forth in this Section 2 (and notwithstanding any recording of the
Junior Agent’s Lien made in the U.S. Patent and Trademark Office, U.S. Copyright Office, or other
registry office in any other jurisdiction), this Agreement shall not constitute a grant of a
security interest in any property to the extent that such grant of a security interest is
prohibited by any applicable Law of an Official Body, requires a consent not obtained of any
Official Body pursuant to such Law or is prohibited by, or constitutes a breach or default under or
results in the termination of or gives rise to any right of acceleration, modification or
cancellation or requires any consent not obtained under, any contract, license, agreement,
instrument or other document evidencing or giving rise to such property, except to the extent that
such Law or the term in such contract, license, agreement, instrument or other document or similar
agreement providing for such prohibition, breach, default or termination or requiring such consent
is ineffective under applicable Law including 9-406, 9-407, 9-408 or 9-409 of the New York UCC (or
any successor provision or provisions); provided, further, that no security interest shall be
granted in any United States “intent-to-use” trademark or service mark application unless and until
acceptable evidence of use of the trademark or service mark has been filed with and accepted by the
U.S. Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (U.S.C.
1051, et seq.), and to the extent that, and solely during the period in which, the grant of a
security interest therein would impair the validity or enforceability of such “intent-to-use”
trademark or service mark applications under applicable federal Law. After such period and after
such evidence of use has been filed and accepted, each Pledgor acknowledges that such interest in
such trademark or service mark applications will become part of the Collateral. The Junior Agent
agrees that, at any Pledgor’s reasonable written request and expense, it will provide such Pledgor
confirmation that the assets described in this paragraph are in fact excluded from the Collateral
during such limited period only.

     3. Each Pledgor covenants and warrants that:

          (a) To the knowledge of such Pledgor, on the date hereof, all material Intellectual Property
owned by such Pledgor is valid, subsisting and unexpired, has not been abandoned and does not, to
the knowledge of such Pledgor, infringe the intellectual property rights of any other Person;

          (b) Such Pledgor is the owner of each item of Intellectual Property, free and clear of any and
all Liens or claims of others except for the Permitted Encumbrances. No financing statement or
other public notice with respect to all or any part of the Collateral is on file or of record in
any public office, except with respect to Permitted Encumbrances;

          (c) Such Pledgor will within thirty (30) calendar days after any change in its jurisdiction of
organization, or change in its legal name, provide written notice thereof to the Junior Agent; and

          (d) Such Pledgor shall execute and deliver, and have recorded, any and all agreements,
instruments, documents and papers as the Junior Agent may reasonably request to evidence

-3-

 

the Junior Agent’s and the Secured Parties’ security interest in such Intellectual Property
and the goodwill of such Pledgors relating thereto or represented thereby.

     4. Each of the obligations of each Pledgor under this Agreement is joint and several. Subject
to the Intercreditor Agreement and any Collateral Agency Agreement, the Junior Agent and the other
Secured Parties, or any of the them, may, in their sole discretion, elect to enforce this Agreement
against any Pledgor without any duty or responsibility to pursue any other Pledgor and such an
election by the Junior Agent and the other Secured Parties, or any of them, shall not be a defense
to any action the Junior Agent and the other Secured Parties, or any of them, may elect to take
against any Pledgor. Each of the Junior Agent and the other Secured Parties hereby reserve all
right against each Pledgor.

     5. Pledgor agrees that, until all of the Secured Obligations shall have been indefeasibly
satisfied in full, it will not enter into any agreement (for example, a license agreement) which is
inconsistent with Pledgor’s obligations under this Agreement, without the Junior Agent’s prior
written consent which shall not be unreasonably withheld except Pledgor may license technology in
the ordinary course of business without the Junior Agent’s consent to suppliers and customers to
facilitate the manufacture and use of such Pledgor’s products.

     6. Prior to the Discharge of Senior Lender Claims, each Pledgor, if requested to do so with
respect to the Senior Lender Claims by the Administrative Agent pursuant to Section 4.4 of the
First Lien Security Agreement, shall execute and deliver to the Junior Agent, and have recorded,
any and all agreements, instruments, documents, and papers to evidence the Junior Agent’s and the
other Secured Parties’ third lien security interest in any Copyright, Patent or Trademark and the
goodwill and General Intangibles of such Pledgor relating thereto or represented thereby.
Following the Discharge of Senior Lender Claims but prior to the Discharge of Senior Claims, if
requested to do so with respect to the Senior Noteholder Claims by the Senior Trustee pursuant to
Section 4.4 of the Senior Noteholder Security Agreement, shall execute and deliver to the Junior
Agent, and have recorded, any and all agreements, instruments, documents and papers to evidence the
Junior Agent’s and the other Secured Parties’ third lien security interest in any Copyright, Patent
or Trademark and the goodwill and General Intangibles of such Pledgor relating thereto or
represented thereby. On and after the Discharge of Senior Claims, such Pledgor shall promptly
execute and deliver, and have recorded, any and all agreements, instruments, documents, and papers
as may be necessary to create and perfect the Junior Agent’s and the other Secured Parties’
security interest in any Copyright, Patent or Trademark and the goodwill and General Intangibles of
such Pledgor relating thereto or represented thereby. In addition, if, before the Secured
Obligations shall have been indefeasibly satisfied in full, any Pledgor shall own any new trademark
applications or registrations or any new registered copyrights or patents, or any patent
application or patent for any reissue, division, continuation, renewal, extension, or continuation
in part of any Intellectual Property, the provisions of this Agreement shall automatically apply
thereto and such Pledgor shall give to Junior Agent prompt notice thereof in writing. Each Pledgor
and Junior Agent agree to modify this Agreement by amending Schedule A to include any
future patents, patent applications, trademark applications, trademarks, copyrights or copyright
applications and the provisions of this Agreement shall apply thereto.

     7. Subject to the Intercreditor Agreement and any Collateral Agency Agreement, Junior Agent
shall have, in addition to all other rights and remedies given it by this Agreement and those
rights and remedies set forth in the Junior Noteholder Security Agreement and the Junior Note
Indenture, those allowed by applicable Law and the rights and remedies of a secured party under the
Uniform Commercial Code as enacted in any jurisdiction in which the Intellectual Property may be
located and, without limiting the generality of the foregoing, solely if an Event of Default has
occurred and is continuing and subject to the Intercreditor Agreement and any Collateral Agency
Agreement, the Junior Agent may immediately, without demand of performance and without other notice
(except as set forth below) or

-4-

 

demand whatsoever to Pledgors, all of which are hereby expressly
waived, and without advertisement,
sell at public or private sale or otherwise realize upon, in a city that the Junior Agent
shall designate by notice to the Pledgors, in Pittsburgh, Pennsylvania or elsewhere, the whole or
from time to time any part of the Intellectual Property, or any interest which any Pledgor may have
therein and, after deducting from the proceeds of sale or other disposition of the Intellectual
Property all expenses (including fees and expenses for brokers and attorneys), shall apply the
remainder of such proceeds toward the payment of the Secured Obligations as the Junior Agent, in
its sole discretion, shall determine. Any remainder of the proceeds after payment in full of the
Secured Obligations shall, subject to the Intercreditor Agreement and any Collateral Agency
Agreement, be paid over to Pledgors. Notice of any sale or other disposition of the Intellectual
Property shall be given to Pledgors at least ten (10) days before the time of any intended public
or private sale or other disposition of the Intellectual Property is to be made, which each Pledgor
hereby agrees shall be reasonable notice of such sale or other disposition. At any such sale or
other disposition, the Junior Agent may, to the extent permissible under applicable Law, purchase
the whole or any part of the Intellectual Property sold, free from any right of redemption on the
part of Pledgor, which right is hereby waived and released. The Junior Agent shall endeavor to
provide the Issuer with notice at or about the time of the exercise of remedies in the preceding
sentence, provided that the failure to provide such notice shall not in any way compromise or
adversely affect the exercise of such remedies or the Junior Agent’s rights hereunder.

     8. If any Event of Default shall have occurred and be continuing, Pledgor hereby authorizes
and empowers the Junior Agent to make, constitute and appoint any officer or agent of the Junior
Agent, as the Junior Agent may select in its exclusive discretion, as such Pledgor’s true and
lawful attorney-in-fact, with the power to endorse such Pledgor’s name on all applications,
documents, papers and instruments necessary for the Junior Agent to use the Intellectual Property,
or to grant or issue, on commercially reasonable terms, any exclusive or nonexclusive license under
the Intellectual Property to any third person, or necessary for the Junior Agent to assign, pledge,
convey or otherwise transfer title in or dispose, on commercially reasonable terms, of the
Intellectual Property to any third Person. Each Pledgor hereby ratifies all that such attorney
shall lawfully do or cause to be done by virtue hereof. This power of attorney, being coupled with
an interest, shall be irrevocable for the life of this Agreement.

     9. Any and all fees, costs and expenses, of whatever kind or nature, including reasonable
attorneys’ fees and expenses incurred by the Junior Agent in connection with the preparation of
this Agreement and all other documents relating hereto and the consummation of this transaction,
the filing or recording of any documents (including all taxes in connection therewith) in public
offices, the payment or discharge of any taxes, counsel fees, maintenance fees, encumbrances, the
protection, maintenance or preservation of the Intellectual Property, or the defense or prosecution
of any actions or proceedings arising out of or related to the Intellectual Property, shall be
borne and paid by Pledgor within fifteen (15) days of demand by the Junior Agent.

     10. No course of dealing between Pledgor and the Junior Agent, nor any failure to exercise nor
any delay in exercising, on the part of the Junior Agent, any right, power or privilege hereunder
or under the Junior Note Indenture or other Junior Noteholder Documents shall operate as a waiver
of such right, power or privilege, nor shall any single or partial exercise of any right, power or
privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of
any other right, power or privilege.

     11. All of the Junior Agent’s rights and remedies with respect to the Intellectual Property,
whether established hereby, by the Junior Noteholder Security Agreement or by the Junior Note
Indenture or by any other agreements or by Law, shall be cumulative and may be exercised singularly
or

-5-

 

concurrently. In the event of any irreconcilable inconsistency in the terms of this Agreement
and the Junior Noteholder Security Agreement, the Junior Noteholder Security Agreement shall
control.

     12. The provisions of this Agreement are severable, and if any clause or provision shall be
held invalid and unenforceable in whole or in part in any jurisdiction, then such invalidity or
unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction,
and shall not in any manner affect such clause or provision in any other jurisdiction, or any
clause or provision of this Agreement in any jurisdiction.

     13. This Agreement is subject to modification only by a writing signed by the parties, except
as provided in Section 6 hereof or Section 8.1 of the Junior Noteholder Security Agreement.

     14. The benefits and burdens of this Agreement shall inure to the benefit of and be binding
upon the respective successors and permitted assigns of the parties, provided,
however, that Pledgor may not assign or transfer any of its rights or obligations hereunder
or any interest herein and any such purported assignment or transfer shall be null and void.

     15. This Agreement and the rights and obligations of the parties under this agreement shall be
governed by, and construed and interpreted in accordance with, the Law of the State of New York.

     16. Each Pledgor (i) hereby irrevocably submits to the nonexclusive jurisdiction of the courts
of the State of New York and the United States District Court for the Southern District of New
York, or any successor to said court (hereinafter referred to as the “New York Courts”) for
purposes of any suit, action or other proceeding which relates to this Agreement or any other
Junior Noteholder Document, (ii) to the extent permitted by applicable Law, hereby waives and
agrees not to assert by way of motion, as a defense or otherwise in any such suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of the New York Courts,
that such suit, action or proceeding is brought in an inconvenient forum, that the venue of such
suit, action or proceeding is improper, or that this Agreement or any Junior Noteholder Document
may not be enforced in or by the New York Courts, (iii) hereby agrees not to seek, and hereby
waives, any collateral review by any other court, which may be called upon to enforce the judgment
of any of the New York Courts, of the merits of any such suit, action or proceeding or the
jurisdiction of the New York Courts, and (iv) waives personal service of any and all process upon
it and consents that all such service of process be made by certified or registered mail addressed
as provided in Section 19 hereof and service so made shall be deemed to be completed upon actual
receipt thereof. Nothing herein shall limit any Secured Party’s right to bring any suit, action or
other proceeding against any Pledgor or any of any Pledgor’s assets or to serve process on any
Pledgor by any means authorized by Law.

     17. This Agreement may be executed in any number of counterparts, and by different parties
hereto in separate counterparts, each of which, when so executed, shall be deemed an original, but
all such counterparts shall constitute one and the same instrument. Each Pledgor acknowledges and
agrees that a telecopy transmission to the Junior Agent or any Secured Party of the signature pages
hereof purporting to be signed on behalf of any Pledgor shall constitute effective and binding
execution and delivery hereof by such Pledgor.

     18. EXCEPT AS PROHIBITED BY LAW, EACH PLEDGOR AND EACH OF THE COMPANIES HEREBY WAIVES ANY
RIGHT IT MAY HAVE TO A TRIAL BY A JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING
OUT OF, UNDER, OR

-6-

 

IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER JUNIOR NOTEHOLDER DOCUMENTS OR
TRANSACTIONS RELATING THERETO.

     19. All notices, requests, demands, directions and other communications (collectively,
“notices”) given to or made upon any party hereto under the provisions of this Agreement shall be
as set forth in Section 13.03 of the Junior Note Indenture.

     20. Each Pledgor acknowledges and agrees that, in addition to the other rights of the Junior
Agent hereunder and under the other Junior Noteholder Documents, because the Junior Agent’s
remedies at law for failure of such Pledgor to comply with the provisions hereof relating to the
Junior Agent’s rights (i) to inspect the books and records related to the Pledged Collateral,
(ii) to receive the various notifications such Pledgor is required to deliver hereunder, (iii) to
obtain copies of agreements and documents as provided herein with respect to the Pledged
Collateral, (iv) to enforce the provisions hereof pursuant to which the such Pledgor has appointed
the Junior Agent its attorney-in-fact, and (v) to enforce the Junior Agent’s remedies hereunder,
would be inadequate and that any such failure would not be adequately compensable in damages, such
Pledgor agrees that each such provision hereof may be specifically enforced.

     21. Notwithstanding anything herein to the contrary, the lien and security interest granted to
the Secured Party pursuant to this Agreement and the exercise of any right or remedy by the Secured
Party hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any
conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the
Intercreditor Agreement shall govern.

     22. In the performance of its obligations hereunder, the Junior Agent shall be entitled to the
privileges, powers and immunities afforded to it as Collateral Agent under the Junior Note
Indenture. The Junior Agent shall be entitled to refuse to take or refrain from taking any
discretionary action or exercise any discretionary powers set forth in this Agreement unless it has
received direction of a majority of Junior Noteholders with respect thereto. Notwithstanding
anything to the contrary contained herein, the Junior Agent shall have no responsibility for the
creation, perfection, priority, sufficiency or protection of any liens securing Secured
Obligations.

[SIGNATURES APPEAR ON FOLLOWING PAGE]

-7-

 

[SIGNATURE PAGE 1 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

          IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
respective officers or agents thereunto duly authorized, as of the date first above written.

	 	 	 	 	 	 	 
	 	 	WILMINGTON TRUST COMPANY, as Junior Agent	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

 

 

[SIGNATURE PAGE 2 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

Pledgors:

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

David G. Valiaveedan
	 	 
	 

	 	Title:
	 	Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 3 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	HOVNANIAN ENTERPRISES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

David G. Valiaveedan
	 	 
	 

	 	Title:
	 	Vice-President — Finance	 	 

EASTERN TITLE AGENCY, INC.

FOUNDERS TITLE AGENCY, INC.

GOVERNOR’S ABSTRACT CO., INC.

HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.

K. HOV INTERNATIONAL, INC.

K. HOV IP, II, INC.

K. HOV I P, INC.

K. HOVNANIAN ACQUISITIONS, INC.

K. HOVNANIAN AT BERNARDS IV, INC.

K. HOVNANIAN AT BRANCHBURG III, INC.

K. HOVNANIAN AT BRIDGEPORT, INC.

K. HOVNANIAN AT BRIDGEWATER VI, INC.

K. HOVNANIAN AT BURLINGTON III, INC.

K. HOVNANIAN AT BURLINGTON, INC.

K. HOVNANIAN AT CALABRIA, INC.

K. HOVNANIAN AT CAMERON CHASE, INC.

K. HOVNANIAN AT CARMEL DEL MAR, INC.

K. HOVNANIAN AT CASTILE, INC.

K. HOVNANIAN AT CHAPARRAL, INC.

K. HOVNANIAN AT CLARKSTOWN, INC.

K. HOVNANIAN AT CRESTLINE, INC.

K. HOVNANIAN AT DOMINGUEZ HILLS, INC.

K. HOVNANIAN AT EAST WHITELAND I, INC.

K. HOVNANIAN AT FREEHOLD TOWNSHIP I, INC.

K. HOVNANIAN AT HERSHEY’S MILL, INC.

K. HOVNANIAN AT HACKETTSTOWN, INC.

K. HOVNANIAN AT HIGHLAND VINEYARDS, INC.

K. HOVNANIAN AT HOPEWELL IV, INC.

 

 

[SIGNATURE PAGE 4 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT HOPEWELL VI, INC.

K. HOVNANIAN AT HOWELL TOWNSHIP, INC.

K. HOVNANIAN AT KINGS GRANT I, INC.

K. HOVNANIAN AT LA TERRAZA, INC.

K. HOVNANIAN AT LAKEWOOD, INC.

K. HOVNANIAN AT LOWER SAUCON, INC.

K. HOVNANIAN AT MAHWAH II, INC.

K. HOVNANIAN AT MAHWAH VI, INC.

K. HOVNANIAN AT MAHWAH VII, INC.

K. HOVNANIAN AT MANALAPAN, INC.

K. HOVNANIAN AT MARLBORO II, INC.

K. HOVNANIAN AT MARLBORO TOWNSHIP III, INC.

K. HOVNANIAN AT MARLBORO TOWNSHIP IV, INC.

K. HOVNANIAN AT MONTGOMERY I, INC.

K. HOVNANIAN AT MONROE II, INC.

K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.

K. HOVNANIAN AT NORTHLAKE, INC.

K. HOVNANIAN AT OCEAN TOWNSHIP, INC.

K. HOVNANIAN AT OCEAN WALK, INC.

K. HOVNANIAN AT PERKIOMEN I, INC.

K. HOVNANIAN AT PERKIOMEN II, INC.

K. HOVNANIAN AT RANCHO CRISTIANITOS, INC.

K. HOVNANIAN AT RESERVOIR RIDGE, INC.

K. HOVNANIAN AT SAN SEVAINE, INC.

K. HOVNANIAN AT SARATOGA, INC.

K. HOVNANIAN AT SAWMILL, INC.

K. HOVNANIAN AT SCOTCH PLAINS II, INC.

K. HOVNANIAN AT SMITHVILLE, INC.

K. HOVNANIAN AT SOUTH BRUNSWICK V, INC.

K. HOVNANIAN AT STONE CANYON, INC.

K. HOVNANIAN AT STONY POINT, INC.

K. HOVNANIAN AT SYCAMORE, INC.

K. HOVNANIAN AT TANNERY HILL, INC.

 

 

[SIGNATURE PAGE 5 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT THE BLUFF, INC.

K. HOVNANIAN AT THORNBURY, INC.

K. HOVNANIAN AT TIERRASANTA, INC.

K. HOVNANIAN AT TROVATA, INC.

K. HOVNANIAN AT TUXEDO, INC.

K. HOVNANIAN AT UNION TOWNSHIP I, INC.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP I, INC.

K. HOVNANIAN AT UPPER MAKEFIELD I, INC.

K. HOVNANIAN AT VAIL RANCH, INC.

K. HOVNANIAN AT WALL TOWNSHIP VI, INC.

K. HOVNANIAN AT WALL TOWNSHIP VIII, INC.

K. HOVNANIAN AT WASHINGTONVILLE, INC.

K. HOVNANIAN AT WAYNE III, INC.

K. HOVNANIAN AT WAYNE V, INC.

K. HOVNANIAN AT WILDROSE, INC.

K. HOVNANIAN COMMUNITIES, INC.

K. HOVNANIAN COMPANIES NORTHEAST, 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 OF VIRGINIA, INC.

K. HOVNANIAN CONSTRUCTION II, INC.

K. HOVNANIAN CONSTRUCTION III, INC.

K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.

K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.

K. HOVNANIAN DEVELOPMENTS OF CONNECTICUT, INC.

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

 

 

[SIGNATURE PAGE 6 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.

K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC.

K. HOVNANIAN DEVELOPMENTS OF ILLINOIS, INC.

K. HOVNANIAN DEVELOPMENTS OF INDIANA, INC.

K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.

K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.

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

K. HOVNANIAN FORECAST HOMES NORTHERN, INC.

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.

K. HOVNANIAN HOMES OF VIRGINIA, INC.

K. HOVNANIAN PA REAL ESTATE, INC.

K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.

K. HOVNANIAN PROPERTIES OF RED BANK, INC.

LANDARAMA, INC.

M&M AT LONG BRANCH, INC.

MCNJ, INC.

SEABROOK ACCUMULATION CORPORATION

 

 

[SIGNATURE PAGE 7 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

STONEBROOK HOMES, INC.

THE MATZEL & MUMFORD ORGANIZATION, INC.

WASHINGTON HOMES, INC.

WESTMINSTER HOMES, INC.

WESTMINSTER HOMES OF TENNESSEE, INC.

WH LAND I, INC.

WH PROPERTIES, INC.

	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	On behalf of, and as Vice-President — Finance of each of

the foregoing corporations	 	 

 

 

[SIGNATURE PAGE 8 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF D.C., L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of D.C., Inc., as the sole	 	 
	 	 	 	 	member of the foregoing limited liability company	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan
	 	 
	 

	 	 	 	 	 	Vice-President — Finance	 	 

FOUNDERS TITLE AGENCY OF MARYLAND, L.L.C.

GREENWAY FARMS UTILITY ASSOCIATES, L.L.C.

HOMEBUYERS FINANCIAL SERVICES, L.L.C.

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

HOVNANIAN LAND INVESTMENT GROUP, L.L.C.

K. HOVNANIAN AT KING FARM, L.L.C.

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

K. HOVNANIAN AT WILLOW BROOK, L.L.C.

K. HOVNANIAN COMPANIES METRO D.C. NORTH, L.L.C.

K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.

K. HOVNANIAN HOMES AT CIDER MILL, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Maryland, Inc., as the
sole member of each of the foregoing limited liability
companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 

 

 

[SIGNATURE PAGE 9 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

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 RENAISSANCE PLAZA, L.L.C.

K. HOVNANIAN HOMES AT RUSSETT, L.L.C.

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

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 ST. MARGARETS LANDING, L.L.C.

RIDGEMORE UTILITY, L.L.C.

WASHINGTON HOMES AT COLUMBIA TOWN CENTER, L.L.C.

WH/PR LAND COMPANY, L.L.C.

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

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Maryland, Inc., as the
sole member of each of the foregoing limited liability
companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 

 

 

[SIGNATURE PAGE 10 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

ALFORD, L.L.C.

DULLES COPPERMINE, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF VIRGINIA, L.L.C.

K. HOVNANIAN AT LAKE RIDGE CROSSING, L.L.C.

K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.

K. HOVNANIAN FOUR SEASONS @ HISTORIC VIRGINIA, L.L.C.

K. HOVNANIAN HOMES AT CAMERON STATION, L.L.C.

K. HOVNANIAN HOMES AT BELMONT OVERLOOK, L.L.C.

K. HOVNANIAN HOMES AT PAYNE STREET, L.L.C.

K. HOVNANIAN HOMES AT VICTORIA STATION, L.L.C.

K. HOVNANIAN SUMMIT HOLDINGS, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT ASHBURN VILLAGE, L.L.C.

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

K. HOVNANIAN’S FOUR SEASONS AT DULLES DISCOVERY 
CONDOMINIUM,
L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT DULLES DISCOVERY, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT VINT HILL, L.L.C.

	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Virginia, Inc., as the
sole member of each of the foregoing limited liability
companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 

 

 

[SIGNATURE PAGE 11 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

AUDDIE ENTERPRISES, L.L.C.

BUILDER SERVICES NJ, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF NEW JERSEY, L.L.C.

K. HOVNANIAN AT ABERDEEN URBAN RENEWAL, L.L.C.

K. HOVNANIAN AT ALLENDALE, L.L.C.

K. HOVNANIAN AT BARNEGAT I, L.L.C.

K. HOVNANIAN AT BARNEGAT II, L.L.C.

K. HOVNANIAN AT BARNEGAT III, L.L.C.

K. HOVNANIAN AT BERKELEY, L.L.C.

K. HOVNANIAN AT BERNARDS V, L.L.C.

K. HOVNANIAN AT BLUE HERON PINES, L.L.C.

K. HOVNANIAN AT BRIDGEWATER I, L.L.C

K. HOVNANIAN AT CAMDEN I, L.L.C.

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

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

K. HOVNANIAN AT CHESTER I, L.L.C.

K. HOVNANIAN AT CHESTERFIELD, L.L.C.

K. HOVNANIAN AT CHESTERFIELD II, L.L.C.

K. HOVNANIAN AT CLIFTON II, L.L.C.

K. HOVNANIAN AT CLIFTON, L.L.C.

K. HOVNANIAN AT CRANBURY, L.L.C.

K. HOVNANIAN AT CURRIES WOODS, L.L.C.

K. HOVNANIAN AT DENVILLE, L.L.C.

K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.

K. HOVNANIAN AT DOVER, L.L.C.

K. HOVNANIAN AT EDGEWATER II, L.L.C.

K. HOVNANIAN AT EDGEWATER, L.L.C.

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

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

K. HOVNANIAN AT ELK TOWNSHIP, L.L.C.

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.

 

 

[SIGNATURE PAGE 12 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT FRANKLIN, L.L.C.

K. HOVNANIAN AT FREEHOLD TOWNSHIP, L.L.C.

K. HOVNANIAN AT GALLOWAY, L.L.C.

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 CONTRACTORS, L.L.C.

K. HOVNANIAN AT HAMBURG, L.L.C.

K. HOVNANIAN AT HAWTHORNE, L.L.C

K. HOVNANIAN AT HAZLET, L.L.C.

K. HOVNANIAN AT HILLTOP, L.L.C.

K. HOVNANIAN AT JACKSON I, L.L.C.

K. HOVNANIAN AT JACKSON, L.L.C.

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 LAFAYETTE ESTATES, L.L.C.

K. HOVNANIAN AT LAWRENCE V, L.L.C.

K. HOVNANIAN AT LINWOOD, L.L.C.

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

K. HOVNANIAN AT LITTLE EGG HARBOR CONTRACTORS, L.L.C.

K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C.

K. HOVNANIAN AT LITTLE EGG HARBOR III, L.L.C.

K. HOVNANIAN AT LONG BRANCH I, 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 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.

 

 

[SIGNATURE PAGE 13 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT MARLBORO VII, L.L.C.

K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.

K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C.

K. HOVNANIAN AT MIDDLE TOWNSHIP II, L.L.C.

K. HOVNANIAN AT MIDDLETOWN II, L.L.C.

K. HOVNANIAN AT MIDDLETOWN, L.L.C.

K. HOVNANIAN AT MILLVILLE I, L.L.C.

K. HOVNANIAN AT MILLVILLE II, L.L.C.

K. HOVNANIAN AT MILLVILLE III, L.L.C.

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

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

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

K. HOVNANIAN AT MONTVALE, L.L.C.

K. HOVNANIAN AT MT. OLIVE TOWNSHIP, L.L.C.

K. HOVNANIAN AT NEW BRUNSWICK URBAN RENEWAL, 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, L.L.C.

K. HOVNANIAN AT NORTH HALEDON, L.L.C.

K. HOVNANIAN AT NORTH WILDWOOD, L.L.C.

K. HOVNANIAN AT NORTHFIELD, L.L.C.

K. HOVNANIAN AT OCEANPORT, L.L.C.

K. HOVNANIAN AT OLD BRIDGE, L.L.C.

K. HOVNANIAN AT PARAMUS, L.L.C.

K. HOVNANIAN AT PARSIPPANY-TROY HILLS, L.L.C.

K. HOVNANIAN AT PEAPACK-GLADSTONE, 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.

 

 

[SIGNATURE PAGE 14 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

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 PRINCETON LANDING, L.L.C.

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

K. HOVNANIAN AT RANDOLPH I, L.L.C.

K. HOVNANIAN AT READINGTON II, L.L.C.

K. HOVNANIAN AT RED BANK, L.L.C.

K. HOVNANIAN AT RIDGEMONT, L.L.C.

K. HOVNANIAN AT SAYREVILLE, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS, L.L.C.

K. HOVNANIAN AT SMITHVILLE III, L.L.C.

K. HOVNANIAN AT SOMERS POINT, L.L.C.

K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.

K. HOVNANIAN AT SPARTA, L.L.C.

K. HOVNANIAN AT SPRINGCO, L.L.C.

K. HOVNANIAN AT TEANECK, L.L.C.

K. HOVNANIAN AT THE MONARCH, L.L.C.

K. HOVNANIAN AT TRENTON, L.L.C.

K. HOVNANIAN AT UNION TOWNSHIP II, L.L.C.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP II, L.L.C.

K. HOVNANIAN AT UPPER FREEHOLD TOWNSHIP III, L.L.C.

K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C.

K. HOVNANIAN AT VINELAND, L.L.C.

K. HOVNANIAN AT WANAQUE, L.L.C.

K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.

K. HOVNANIAN AT WASHINGTON, L.L.C.

K. HOVNANIAN AT WAYNE IX, L.L.C.

K. HOVNANIAN AT WAYNE VIII, L.L.C.

K. HOVNANIAN AT WEST MILFORD, L.L.C.

K. HOVNANIAN AT WEST WINDSOR, L.L.C.

 

 

[SIGNATURE PAGE 15 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.

K. HOVNANIAN AT WOODHILL ESTATES, L.L.C.

K. HOVNANIAN AT WOOLWICH I, L.L.C.

K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.

K. HOVNANIAN CHESTERFIELD INVESTMENT, L.L.C.

K. HOVNANIAN CLASSICS, L.L.C.

K. HOVNANIAN CLASSICS CIP, L.L.C.

K. HOVNANIAN HOMES – DFW, L.L.C.

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

K. HOVNANIAN OF HOUSTON II, L.L.C.

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 SHORE ACQUISITIONS, L.L.C.

K. HOVNANIAN SOUTHERN NEW JERSEY, L.LC.

K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.

K. HOVNANIAN T&C INVESTMENT, L.L.C.

K. HOVNANIAN VENTURE I, L.L.C.

K. HOVNANIAN’S PRIVATE HOME PORTFOLIO, L.L.C.

TERRAPIN REALTY, L.L.C.

KHIP, L.L.C.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., as the sole member
of each of the foregoing limited liability
companies.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey,

Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,

Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 16 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	F&W MECHANICAL SERVICES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., as the managing
member of the foregoing limited liability
company.	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	K. Hovnanian Developments of New Jersey,

Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 

David G. Valiaveedan

Vice-President — Finance
	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,

Inc., as member	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE PAGE 17 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT HUDSON POINTE, L.L.C.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., its sole member
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc., as member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	AND
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey II,
	 	 	 	 	 	 	Inc., as member
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 18 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 	 	 
	 	 	PARK TITLE COMPANY, L.L.C.
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian of Houston II, L.L.C., its sole member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., its sole member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc., as member
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	AND
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	K. Hovnanian Developments of New Jersey
	 	 	 	 	 	 	 	 	II, Inc., as member
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 19 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

HOVNANIAN LAND INVESTMENT GROUP OF CALIFORNIA, L.L.C.

K.H. SAN MARCOS CONSERVANCY HOLDINGS, L.L.C.

K. HOVNANIAN AT 3 CHAPMAN, L.L.C.

K. HOVNANIAN AT 4S, L.L.C.

K. HOVNANIAN AT ACQUA VISTA, L.L.C.

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

K. HOVNANIAN AT ARBOR HEIGHTS, L.L.C.

K. HOVNANIAN AT AVENUE ONE, L.L.C.

K. HOVNANIAN AT BELLA LAGO, L.L.C.

K. HOVNANIAN AT BRIDLEWOOD, L.L.C.

K. HOVNANIAN AT CAPISTRANO, L.L.C.

K. HOVNANIAN AT CARMEL VILLAGE, L.L.C.

K. HOVNANIAN AT CIELO, L.L.C.

K. HOVNANIAN AT COASTLINE, L.L.C.

K. HOVNANIAN AT CORTEZ HILL, L.L.C.

K. HOVNANIAN AT EASTLAKE, L.L.C.

K. HOVNANIAN AT ENCINITAS RANCH, L.L.C.

K. HOVNANIAN AT EVERGREEN, L.L.C.

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. HOVNANIAN AT HIGHWATER, L.L.C.

K.
HOVNANIAN AT LA COSTA, LLC

K. HOVNANIAN AT LA COSTA GREENS, L.L.C.

K. HOVNANIAN AT LA HABRA KNOLLS, L.L.C.

K. HOVNANIAN AT LAKE HILLS, L.L.C.

K. HOVNANIAN AT LAKE RANCHO VIEJO, L.L.C.

K. HOVNANIAN AT MATSU, L.L.C.

K. HOVNANIAN AT MENIFEE, L.L.C.

K. HOVNANIAN AT MOCKINGBIRD CANYON, L.L.C.

K. HOVNANIAN AT MOSAIC, L.L.C.

K. HOVNANIAN AT OLDE ORCHARD, L.L.C.

K. HOVNANIAN AT ORANGE HEIGHTS, L.L.C.

K. HOVNANIAN AT PACIFIC BLUFFS, L.L.C.

K. HOVNANIAN AT PARK LANE, L.L.C.

K. HOVNANIAN AT PIAZZA D’ORO, L.L.C.

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

 

 

[SIGNATURE
PAGE 20 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT RANCHO SANTA MARGARITA, L.L.C.

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

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

K. HOVNANIAN AT ROWLAND HEIGHTS, L.L.C.

K. HOVNANIAN AT SAGE, L.L.C.

K. HOVNANIAN AT SKYE ISLE, L.L.C.

K. HOVNANIAN AT SUNSETS, L.L.C.

K. HOVNANIAN AT THE CROSBY, L.L.C.

K. HOVNANIAN AT THE GABLES, L.L.C.

K. HOVNANIAN AT THE PRESERVE, L.L.C.

K. HOVNANIAN AT THOMPSON RANCH, L.L.C.

K. HOVNANIAN AT TRAIL RIDGE, L.L.C.

K. HOVNANIAN AT WINCHESTER, L.L.C.

K. HOVNANIAN INTERNATIONAL, L.L.C.

K. HOVNANIAN T&C MANAGEMENT CO., L.L.C.

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

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

K. HOVNANIAN’S FOUR SEASONS AT HEMET, L.L.C.

K. HOVNANIAN’S FOUR SEASONS AT MENIFEE VALLEY, L.L.C.

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

K. HOVNANIAN’S FOUR SEASONS, L.L.C.

K. HOVNANIAN’S PARKSIDE AT TOWNGATE, L.L.C.

NATOMAS CENTRAL NEIGHBORHOOD HOUSING, L.L.C.

	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of California, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan
	 

	 	 	 	 	 	Vice-President — Finance

 

 

[SIGNATURE
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	 	 	K. HOVNANIAN HOLDINGS NJ, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of New Jersey, Inc., as member of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	AND
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of New Jersey II, Inc., as member of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 22 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

BUILDER SERVICES, PA, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF PENNSYLVANIA, L.L.C.

K. HOVNANIAN AT ALLENBERRY, L.L.C.

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

K. HOVNANIAN AT BROAD AND WALNUT, L.L.C.

K. HOVNANIAN AT CAMP HILL, L.L.C.

K HOVNANIAN AT EAST BRANDYWINE, L.L.C.

K HOVNANIAN AT FORKS TWP. I, 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 LOWER MORELAND III, L.L.C.

K. HOVNANIAN AT MACUNGIE, L.L.C.

K. HOVNANIAN AT NORTHAMPTON, L.L.C.

K. HOVNANIAN AT PHILADELPHIA II, L.L.C.

K. HOVNANIAN AT PHILADELPHIA III, L.L.C.

K. HOVNANIAN AT PHILADELPHIA IV, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C.

	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Companies of Pennsylvania, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan
	 

	 	 	 	 	 	Vice-President — Finance

 

 

[SIGNATURE
PAGE 23 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

K. HOVNANIAN AT SILVER SPRING, L.L.C.

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

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

K. HOVNANIAN AT WEST BRADFORD, L.L.C.

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

K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.

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

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

RIDGEMORE UTILITY ASSOCIATES OF PENNSYLVANIA, L.L.C.

	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Companies of Pennsylvania, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan
	 

	 	 	 	 	 	Vice-President — Finance

 

 

[SIGNATURE
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HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.

K. HOVNANIAN CAMBRIDGE HOMES, L.L.C.

K. HOVNANIAN FIRST HOMES, L.L.C.

K. HOVNANIAN FLORIDA REALTY, L.L.C.

K. HOVNANIAN STANDING ENTITY, L.L.C.

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

K. HOVNANIAN WINDWARD HOMES, L.L.C.

	 	 	 	 	 	 	 
	 	 	By:	 	Hovnanian Developments of Florida, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 25 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN COMPANIES, LLC
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Enterprises, Inc., as member of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	AND
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of New Jersey II, Inc., as member of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian at Perkiomen II, Inc., as the sole member of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 26 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN FOUR SEASONS AT GOLD HILL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF SOUTH CAROLINA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of South Carolina, Inc., as the sole member
of each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN GREAT WESTERN HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	NEW LAND TITLE AGENCY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Arizona, Inc., as the sole member of
each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 27 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT HIGHLAND SHORES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT RIDGESTONE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT RUSH CREEK, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN T&C HOMES AT MINNESOTA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Minnesota, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 28 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN OHIO REALTY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN OSTER HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Ohio, Inc., as the sole member of each
of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 29 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT HUNTFIELD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF WEST
VIRGINIA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of West Virginia, Inc., as the sole member
of each of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF MICHIGAN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF MICHIGAN,
L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Michigan, Inc., as the sole member of
the foregoing limited liability company.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 30 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	M&M AT CHESTERFIELD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT APPLE RIDGE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT EAST MILL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT MORRISTOWN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SHERIDAN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SPINNAKER POINTE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SPRUCE HOLLOW, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT SPRUCE RUN, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT THE HIGHLANDS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT EGG HARBOR, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT MONTGOMERY, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	THE LANDINGS AT SPINNAKER POINTE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	The Matzel & Mumford Organization, Inc., as the sole member of each
of the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 31 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	M & M AT COPPER BEECH, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT CRESCENT COURT, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT EAST RUTHERFORD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT KENSINGTON WOODS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT STATION SQUARE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M & M AT UNION, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT TAMARACK HOLLOW, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT THE CHATEAU, L.LC.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WEST ORANGE, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WESTPORT, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	M&M AT WHEATENA URBAN RENEWAL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MATZEL & MUMFORD AT SOUTH BOUND BROOK URBAN RENEWAL, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	MMIP, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	M&M Investments, L.P., as the sole member of each of the foregoing
limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 

 

 

[SIGNATURE
PAGE 32 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT FAIRWOOD, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT JONES STATION 1, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT JONES STATION 2, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT MAXWELL PLACE. L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT PRIMERA, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	PADDOCKS, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	PINE AYR, L.L.C.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Homes of Maryland, L.L.C., as the sole member of each of
the foregoing limited liability companies.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance	 	 
	 
	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF TEXAS, L.L.C.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Homes — DFW, L.L.C., as the sole member of the foregoing
limited liability company.
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	K. Hovnanian Holdings NJ, L.L.C., as the sole
member of the foregoing limited liability
company.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	By:	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 33 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT NEW WINDSOR, L.L.C.
	 
	 	 	 	 	 	 
	 	 	BUILDER SERVICES NY, L.L.C.
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT HAMPTONBURGH, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian at Northern Westchester, Inc., as the sole member of each
of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN DELAWARE ACQUISITIONS, L.L.C.
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF DELAWARE, L.L.C.
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES AT NASSAU GROVE, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Delaware, Inc., as the sole member of
the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 34 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT MENIFEE
VALLEY CONDOMINIUMS, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian’s Four Seasons At Menifee Valley, L.L.C.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF NORTH CAROLINA, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of North Carolina, Inc., as the sole member
of the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 35 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT BAILEY’S GLENN, L.L.C.
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN’S FOUR SEASONS AT RENAISSANCE, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Homes of North Carolina, Inc. as the sole member of the
foregoing limited liability companies
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 36 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN HOMES OF INDIANA, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Indiana, Inc., as the sole member of the
foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C.
	 
	 	 	 	 	 	 
	 	 	MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES OF KENTUCKY,
L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Kentucky, Inc., as the sole member of
the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE PAGE 17 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN CONNECTICUT ACQUISITIONS, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Connecticut, Inc., as the sole member of
the foregoing limited liability company.
	 

	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	K. HOVNANIAN T&C HOMES AT ILLINOIS, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Illinois, Inc., as the sole member of
the foregoing limited liability company.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	HOVNANIAN LAND INVESTMENT GROUP OF GEORGIA, L.L.C
	 

	 	 	K. HOVNANIAN HOMES OF GEORGIA, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian Developments of Georgia, Inc., as the sole member of
each of the foregoing limited liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 38 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	WESTMINSTER HOMES OF ALABAMA, L.L.C.
	 
	 	 	 	 	 	 
	 	 	WESTMINSTER HOMES OF MISSISSIPPI, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	Washington Homes, Inc., as sole member of each of the foregoing limited
liability companies.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 	 	K. HOVNANIAN AT EWING, L.L.C.
	 
	 	 	 	 	 	 
	 	 	By:	 	K. Hovnanian at Lakewood, Inc., as sole member
of the foregoing limited liability company
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance

 

 

[SIGNATURE
PAGE 39 OF 39 TO THE THIRD LIEN IP SECURITY AGREEMENT]

	 	 	 	 	 	 	 
	 	 	M&M INVESTMENTS, L.P.
	 
	 	 	 	 	 	 
	 	 	By:	 	The Matzel & Mumford Organization, Inc., as general partner of the
foregoing limited partnership.
	 
	 	 	 	 	 	 
	 

	 	 	 	By:	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	David G. Valiaveedan

Vice-President — Finance
	 
	 	 	 	 	 	 
	 	 	Address for Notices for each of the foregoing Pledgors:
	 
	 	 	 	 	 	 
	 	 	c/o K. Hovnanian Enterprises, Inc.
	 	 	110 West Front St., P.O. Box 500
	 	 	Red Bank, NJ 07701
	 	 	Attention: David G. Valiaveedan
	 	 	Telephone: (732) 747-7800
	 	 	Telecopy: (732) 747-6835

 

 

SCHEDULE A

TO

INTELLECTUAL PROPERTY SECURITY AGREEMENT

LIST OF REGISTERED PATENTS, TRADEMARKS AND COPYRIGHTS

	1.	 	Registered Patents:       None.
	 
	2.	 	Trademarks:      [see attached]
	 
	3.	 	Copyrights:      None.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}]]