Document:

exv10w2

 

EXECUTION COPY

Exhibit 10.2

SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

     THIS SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT (this “Amendment”) is made as of the 14th
day of March, 2007, by and among D.R. HORTON, INC., a Delaware corporation (the “Borrower”), the
lenders listed on the signature pages hereof (collectively referred to herein as the “Lenders”),
the Guarantors listed on Schedule 1 attached hereto (each a “Guarantor” and collectively, the
“Guarantors”), WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (the
“Administrative Agent”), Swingline Lender and a Letter of Credit Issuer.

RECITALS:

     The Borrower, the Administrative Agent and the Lenders have entered into that certain
Revolving Credit Agreement dated as of December 16, 2005 (the “Original Credit Agreement”) and the
Borrower, the Administrative Agent and certain of the Lenders have entered into that certain First
Amendment to Revolving Credit Agreement dated as of November 1, 2006 (the “First Amendment”; the
Original Credit Agreement, as amended by the First Amendment, hereinafter referred to as the
“Credit Agreement”). Capitalized terms used in this Amendment which are not otherwise defined in
this Amendment shall have the respective meanings assigned to them in the Credit Agreement.

     The Borrower, the Administrative Agent and the Lenders desire to amend the Credit Agreement in
certain respects.

     NOW, THEREFORE, in consideration of the Recitals and the mutual promises contained herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Borrower, the Guarantors, the Administrative Agent and the Lenders party hereto,
intending to be legally bound hereby, agree as follows:

     SECTION 1. Recitals. The Recitals are incorporated herein by reference and shall be
deemed to be a part of this Amendment.

     SECTION 2. Amendments.

     2.1 The definition of “EBITDA” in Section 1.1 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:

               “EBITDA” means, for Borrower and its Restricted
Subsidiaries for the
twelve (12) month period ending on any date of determination, an amount equal to (a)
consolidated net income for such period, plus (b) cash dividends from Unrestricted
Subsidiaries paid to Borrower during such period, minus (c) gains from extraordinary items
not received in cash for such period, to the extent included in the calculation of
consolidated net income for such period in accordance with GAAP, but without duplication,
plus (d) the sum of (i) any provision for income taxes for such period, (ii) Interest
Expense deducted in the calculation of consolidated net income for such period in accordance
with GAAP (including, without duplication, previously capitalized

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Interest Expense which would be included in “cost of goods sold” and deducted from
consolidated revenues in determining consolidated net income), (iii) the amount of
depreciation and amortization for such period, and (iv) extraordinary losses not paid in
cash, other non-cash items and asset valuation adjustments, including but not limited to
impairment charges on inventories and other long-lived assets and land option cost
write-offs, in each case to the extent included in the calculation of consolidated net
income for such period in accordance with GAAP, but without duplication. In the case of any
Subsidiary of Borrower that becomes a Restricted Subsidiary during any period of
calculation, EBITDA shall, for the purposes of the foregoing calculations, be adjusted by
increasing, if positive, or decreasing, if negative, EBITDA by the EBITDA of such Subsidiary
during such period of calculation occurring prior to the date such Subsidiary became a
Restricted Subsidiary.

     2.2 Section 6.8(b) of the Credit Agreement is hereby amended and restated in its entirety
to read as follows:

               (b) Borrower shall at all times (i) during the period from the Agreement Date
through
February 28, 2007 maintain a ratio of (A) EBITDA to (B) Interest Incurred of not less than
2.50 to 1.0 and (ii) during the period from and after March 1, 2007 maintain a ratio of (A)
EBITDA to (B) Interest Incurred of not less than 2.0 to 1.0.

     SECTION 3. Conditions to Effectiveness. The effectiveness of this Amendment and the
obligations of the Lenders hereunder are subject to satisfaction of the following conditions:

     (a) receipt by the Administrative Agent from the Borrower, the Guarantors, the Administrative
Agent and the Lenders constituting Required Lenders (as defined in the Credit Agreement) of a duly
executed counterpart of this Amendment;

     (b) the fact that the representations and warranties of the Borrower and each Guarantor
contained in Article 5 of the Credit Agreement and Section 5 of this Amendment
shall be true on and as of the date hereof;

     (c) receipt by the Administrative Agent, in form and substance reasonably satisfactory to the
Administrative Agent, of an Incumbency Certificate of the Borrower reflecting the Authorized
Signatories;

     (d) receipt by the Administrative Agent, in form and substance reasonably satisfactory to the
Administrative Agent, of corporate resolutions of the Borrower certified by an officer of the
Borrower and authorizing the Borrower to enter into this Amendment;

     (e) receipt by the Administrative Agent, in form and substance reasonably satisfactory to the
Administrative Agent, of an Incumbency Certificate of each Guarantor reflecting the Authorized
Signatories;

     (f) receipt by the Administrative Agent, in form and substance reasonably satisfactory to the
Administrative Agent, of resolutions of each Guarantor to execute this Amendment;

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     (g) payment by the Borrower of all fees and expenses (including without limitation the fees
and expenses of counsel to the Administrative Agent) payable on the date of this Amendment to the
Lenders and the Administrative Agent; and

     (h) receipt of such other documents that the Administrative Agent may reasonably require.

     SECTION 4. No Other Amendment. Except for the amendments set forth herein, the text
of the Credit Agreement shall remain unchanged and in full force and effect. This Amendment is not
intended to effect, nor shall it be construed as, a novation. The Credit Agreement and this
Amendment shall be construed together as a single agreement. Nothing herein contained shall waive,
annul, vary or affect any provision, condition, covenant or agreement contained in the Credit
Agreement, except as herein amended or waived, nor affect or impair any rights, powers or remedies
under the Credit Agreement as hereby amended. The Lenders and the Administrative Agent do hereby
reserve all of their rights and remedies against all parties who may be or may hereafter become
secondarily liable for the repayment of the Obligations. The Borrower promises and agrees to
perform all of the requirements, conditions, agreements and obligations under the terms of the
Credit Agreement, as heretofore and hereby amended, the Credit Agreement, as amended, being hereby
ratified and affirmed. The Borrower hereby expressly agrees that the Credit Agreement, as amended,
is in full force and effect.

     SECTION 5. Representations and Warranties. The Borrower and each Guarantor hereby
represents and warrants to the Administrative Agent and the Lenders as follows:

     (a) No Default or Event of Default under the Credit Agreement has occurred and is continuing
on the date hereof.

     (b) The Borrower and each Guarantor each has the power and authority to enter into this
Amendment and to do all acts and things as are required or contemplated hereunder, or thereunder,
to be done, observed and performed by it.

     (c) The execution, delivery and performance by each of the Borrower and each Guarantor of this
Amendment and each Loan Document to which such Person is a party that is being delivered in
connection with this Amendment have been duly authorized by all necessary corporate or other
organizational action, and do not and will not (i) contravene the terms of any of such Person’s
Organizational Documents or Authority Documents, (ii) conflict with or result in any breach or
contravention of, or the creation of any Lien under, any contractual obligation to which such
Person is party or another order, injunction, writ or decree of any Governmental Authority to
which such Person or its property is subject, or (iii) violate any Applicable Law.

     (d) This Amendment and each Loan Document being delivered in connection with this Amendment
have each been duly executed and delivered by the Borrower and each Guarantor that is party hereto
and thereto. This Amendment and each such Loan Document each constitutes the legal, valid and
binding obligation of the Borrower and each Guarantor that is a party thereto, enforceable against
the Borrower and each Guarantor in accordance with its terms, except as enforceability may be
limited by applicable Debtor Relief Laws and general principles of equity.

     SECTION 6. Counterparts. This Amendment may be executed in multiple counterparts,

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each of which shall be deemed to be an original and all of which, taken together, shall
constitute one and the same agreement.

     SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NORTH CAROLINA; PROVIDED THAT THE ADMINISTRATIVE AGENT,
LETTER OF CREDIT ISSUERS AND LENDERS SHALL RETAIN ALL RIGHTS ARISING UNDER FEDERAL LAW.

     SECTION 8. Consent by Guarantors. The Guarantors consent to this Amendment. Each
Guarantor promises and agrees to perform all of the requirements, conditions, agreements and
obligations under the terms of the Subsidiary Guaranty to which it is a party, such Subsidiary
Guaranty being hereby ratified and affirmed. Each Guarantor hereby expressly agrees that the
Subsidiary Guaranty to which it is a party is in full force and effect.

[Signature Pages Follow]

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     IN WITNESS WHEREOF, the parties hereto have executed and delivered, or have caused their
respective duly authorized officers or representatives to execute and deliver, this Amendment as of
the day and year first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	BORROWER:	 	 
	 	 	D.R. HORTON, INC., a Delaware corporation	 	 
	 

	 	By:
	 	/s/ Bill W. Wheat	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Bill W. Wheat	 	 
	 	 	Title: Chief Financial Officer	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 
	 	GUARANTORS:

 	 
	 	By:  	/s/ Bill W. Wheat
 	 
	 	 	Bill W. Wheat, in the capacities described and 	 
	 	 	on behalf of the entities set forth in
Exhibit A 	 
	 
	 	 	 
	 	By:  	                                              /s/ Robert E. Coltin
 	 
	 	 	Robert E. Coltin, in the capacities described 	 
	 	 	and on behalf of the entities set forth in
Exhibit A 	 
	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

EXHIBIT A

INITIAL GUARANTORS as of December 16, 2005

C. Richard Dobson Builders, Inc., a Virginia corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

CH Investments of Texas, Inc., a Delaware corporation, by Robert E. Coltin in his capacity as Vice
President, Secretary and Treasurer

CHI Construction Company, an Arizona corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

CHTEX of Texas, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Continental Homes, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

Continental Homes of Texas, L.P., a Texas limited partnership, by CHTEX of Texas, Inc., its General
Partner, by Bill W. Wheat in his capacity as Chief Financial Officer

Continental Residential, Inc., a California corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton-Emerald, Ltd., a Texas limited partnership, by Meadows I, Ltd., its General Partner,
by Bill W. Wheat in his capacity as Chief Financial Officer

D.R.
Horton, Inc.-Birmingham, an Alabama corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton, Inc.-Chicago, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton, Inc.-Denver, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton, Inc.-Dietz-Crane, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton, Inc.-Greensboro, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R.
Horton, Inc.-Jacksonville, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

 

 

D.R. Horton, Inc.-Louisville, a Delaware corporation, by Bill W. Wheat in his capacity as
Chief Financial Officer

D.R. Horton, Inc.-Minnesota, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton, Inc.-New Jersey, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton, Inc.-Portland, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton, Inc.-Sacramento, a California corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton, Inc.-Torrey, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton Los Angeles Holding Company, Inc., a California corporation, by Bill W. Wheat in his
capacity as Chief Financial Officer

D.R. Horton Management Company, Ltd., a Texas limited partnership, by Meadows I, Ltd., its General
Partner, by Bill W. Wheat in his capacity as Chief Financial Officer

D.R. Horton Materials, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton Orange County, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

D.R. Horton San Diego Holding Company, Inc., a California corporation, by Bill W. Wheat in his
capacity as Chief Financial Officer

D.R. Horton-Texas, Ltd., a Texas limited partnership, by Meadows I, Ltd., its General Partner, by
Bill W. Wheat in his capacity as Chief Financial Officer

DRH Cambridge Homes, Inc., a California corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

DRH Cambridge Homes, LLC, a Delaware limited liability company, by D.R. Horton, Inc.-Chicago, a
managing member, by Bill W. Wheat in his capacity as Chief Financial Officer

DRH Construction, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

 

 

D. R. Horton, Inc.-Fresno, a Delaware corporation, by Bill W. Wheat in his capacity as
Chief Financial Officer

D.R. Horton, Inc.-Gulf Coast, a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

DRH Regrem VII, LP, a Texas limited partnership, by Meadows I, Ltd., its General Partner, by Bill
W. Wheat in his capacity as Chief Financial Officer

DRH Regrem VIII, LLC, a Delaware limited liability company, by D.R. Horton, Inc.-Chicago, a
managing member, by Bill W. Wheat in his capacity as Chief Financial Officer

DRH Southwest Construction, Inc., California corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

DRH Tucson Construction, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

DRHI, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial Officer

KDB Homes, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Meadows I, Ltd., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Meadows II, Ltd., a Delaware corporation, by Robert E. Coltin in his capacity as Vice President,
Secretary and Treasurer

Meadows VIII, Ltd., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Meadows IX, Inc., a New Jersey corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Meadows X, Inc., a New Jersey corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

SGS Communities at Grande Quay, LLC, a New Jersey limited liability company, by Meadows IX, Inc., a
managing member, by Bill W. Wheat in his capacity as Chief Financial Officer

 

 

D.R. Horton-Schuler Homes, LLC, a Delaware limited liability company, by Vertical Construction
Corporation, a manager, by Bill W. Wheat in his capacity as Chief Financial Officer

HPH Homebuilders 2000, L.P., a California limited partnership, by Western Pacific Housing
Management, Inc., a General Partner, by Bill W. Wheat in his capacity as Chief Financial Officer

Melody Homes, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

Melmort Co., a Colorado corporation, by Bill W. Wheat in his capacity as Chief Financial Officer

Schuler Homes of Arizona LLC, a Delaware limited liability company, by SRHI LLC, a managing member,
by Bill W. Wheat in his capacity as Chief Financial Officer

Schuler Homes of California, Inc., a California corporation, by Bill W. Wheat in his capacity as
Chief Financial Officer

Schuler Homes of Oregon, Inc., an Oregon corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

Schuler Homes of Washington, Inc., a Washington corporation, by Bill W. Wheat in his capacity as
Chief Financial Officer

Schuler Mortgage, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

Schuler Realty Hawaii, Inc., a Hawaii corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

SHA Construction LLC, a Delaware limited liability company, by SRHI, LLC, a managing member, by
Bill W. Wheat in his capacity as Chief Financial Officer

SHLR of California, Inc., a California corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

SHLR of Colorado, Inc., a Colorado corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

SHLR of Nevada, Inc., a Nevada corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

 

 

SHLR of Utah, Inc., a Utah corporation, by Bill W. Wheat in his capacity as Chief Financial Officer

SHLR of Washington, Inc., a Washington corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

SRHI LLC, a Delaware limited liability company, by SHLR of Nevada, Inc., a managing member, by Bill
W. Wheat in his capacity as Chief Financial Officer

SSHI LLC, a Delaware limited liability company, by SHLR of Washington, a managing member, by Bill
W. Wheat in his capacity as Chief Financial Officer

The Club at Pradera, Inc., a Delaware corporation, by Robert E. Coltin in his capacity as Vice
President

Vertical Construction Corporation, a Delaware corporation, by Bill W. Wheat in his capacity as
Chief Financial Officer

Western Pacific Funding, Inc., a California corporation, by Bill W. Wheat in his capacity as
Executive Vice President

Western Pacific Housing Co., a California limited partnership, by Western Pacific Housing
Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing Management, Inc., a California corporation, by Bill W. Wheat in his
capacity as Chief Financial Officer

Western Pacific Housing, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Antigua, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western
Pacific Housing-Aviara, L.P., a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Boardwalk, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

 

 

Western Pacific Housing-Broadway, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Canyon Park, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Carmel, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Carrillo, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Communications Hill, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Copper Canyon, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Creekside, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Culver City, L.P., a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Del Valle, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Lomas Verdes, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Lost Hills Park, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

 

 

Western Pacific Housing-McGonigle Canyon, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Mountaingate, L.P. a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Norco Estates, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western
Pacific Housing-Oso, L.P., a California limited partnership, by Western Pacific Housing
Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Pacific Park II, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Park Avenue East, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Park Avenue West, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Playa Vista, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Poinsettia, L.P., a California limited partnership, by Western
Pacific Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-River Ridge, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Robinhood Ridge, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

 

 

Western Pacific Housing-Santa Fe, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Scripps II, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Scripps, L.P., a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Seacove, L.P., a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Studio 528, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Terra Bay Duets, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Torrance, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Torrey Commercial, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Torrey Meadows, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial
Officer

Western Pacific Housing-Torrey Multi-Family, LLC, a Delaware limited liability company, by Western
Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as Chief
Financial Officer

Western Pacific Housing-Torrey Village Center, LLC, a Delaware limited liability company, by
Western Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as
Chief Financial Officer

 

 

Western Pacific Housing-Vineyard Terrace, LLC, a Delaware limited liability company, by
Western Pacific Housing Management, Inc., its managing member, by Bill W. Wheat in his capacity as
Chief Financial Officer

Western Pacific Housing-Windemere, LLC, a Delaware limited liability company, by Western Pacific
Housing Management, Inc., its manager, by Bill W. Wheat in his capacity as Chief Financial Officer

Western Pacific Housing-Windflower, L.P., a California limited partnership, by Western Pacific
Housing Management, Inc., its General Partner, by Bill W. Wheat in his capacity as Chief Financial
Officer

WPH-Camino Ruiz, LLC, a Delaware limited liability company, by Western Pacific Housing Management,
Inc., its managing member, by Bill W. Wheat in his capacity as Chief Financial Officer

D.R. Horton LA North, Inc. (f/k/a DRH Regrem X, Inc.), a Delaware corporation, by Bill W. Wheat in
his capacity as Chief Financial Officer

DRH Regrem XI, Inc. a Delaware corporation, by Bill W. Wheat in his capacity as Chief Financial
Officer

DRH Regrem XII, LP, a Texas limited partnership, by Meadows I, Ltd., its General Partner, by

Bill W. Wheat in his capacity as Chief Financial Officer

ADDITIONAL GUARANTORS as of June 13, 2006

D.R. Horton, Inc. B Los Angeles, a Delaware corporation, by Bill W. Wheat in his capacity as
Executive Vice President and Chief Financial Officer

DRH Regrem XIII, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XIV, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XV, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XVI, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XVII, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XVIII, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

 

 

DRH Regrem XIX, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XX, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XXI, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XXII, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XXIII, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

DRH Regrem XXIV, Inc., a Delaware corporation, by Bill W. Wheat in his capacity as Executive Vice
President and Chief Financial Officer

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK,
NATIONAL ASSOCIATION, as Administrative Agent	 	 
	 

	 	By:
	 	/s/ R. Scott Holtzapple	 	 
	 

	 	 	 	 	 	 
	 	 	Name: R. Scott Holtzapple	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender,
Swingline Lender and a Letter of Credit Issuer	 	 
	 

	 	By:
	 	/s/ R. Scott Holtzapple	 	 
	 

	 	 	 	 	 	 
	 	 	Name: R. Scott Holtzapple	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	THE ROYAL BANK OF SCOTLAND, PLC, as a Lender	 	 
	 

	 	By:
	 	/s/ William McGinty	 	 
	 

	 	 	 	 	 	 
	 	 	Name: William McGinty	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A., as a Lender	 	 
	 

	 	By:
	 	/s/ Stephen B. Carlson	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Stephen B. Carlson	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CALYON NEW YORK BRANCH, as a Lender	 	 
	 

	 	By:
	 	/s/ Samuel L. Hill	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Samuel L. Hill	 	 
	 	 	Title: Managing Director / Regional Head	 	 
	 

	 	By:
	 	/s/ David P. Cagle	 	 
	 

	 	 	 	 	 	 
	 	 	Name: David P. Cagle	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP, N.A., as a Lender	 	 
	 

	 	By:
	 	/s/ Marni McManus	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Marni McManus	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A., as a Lender	 	 
	 

	 	By:
	 	/s/ Michael P. O’Keefe	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Michael P. O’Keefe	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	UBS LOAN FINANCE LLC, as a Lender	 	 
	 

	 	By:
	 	/s/ Richard L. Tavrow	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Richard L. Tavrow	 	 
	 	 	Title: Director	 	 
	 

	 	By:
	 	/s/ Irja R. Otsa	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Irja R. Otsa	 	 
	 	 	Title: Associate Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	BNP PARIBAS, as a Lender	 	 
	 

	 	By:
	 	/s/ Rick Pace	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Rick Pace	 	 
	 	 	Title: Managing Director	 	 
	 

	 	By:
	 	/s/ Berangere Allen	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Berangere Allen	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ W. John Wendler	 	 
	 

	 	 	 	 	 	 
	 	 	Name: W. John Wendler	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	U.S. BANK NATIONAL ASSOCIATION, as a Lender	 	 
	 

	 	By:
	 	/s/ John D. Kuykendall	 	 
	 

	 	 	 	 	 	 
	 	 	Name: John D. Kuykendall	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	WASHINGTON MUTUAL BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Brad R. Johnson	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Brad R. Johnson	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	REGIONS BANK (successor by merger to AmSouth Bank),
as a Lender	 	 
	 

	 	By:
	 	/s/ Daniel McClurkin	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Daniel McClurkin	 	 
	 	 	Title: Assistant Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF NOVA SCOTIA, as a Lender	 	 
	 

	 	By:
	 	/s/ William E. Zarrett	 	 
	 

	 	 	 	 	 	 
	 	 	Name: William E. Zarrett	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	SCOTIABANC INC., as a Lender	 	 
	 

	 	By:
	 	/s/ William E. Zarrett	 	 
	 

	 	 	 	 	 	 
	 	 	Name: William E. Zarrett	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	BARCLAYS BANK PLC, as a Lender	 	 
	 

	 	By:
	 	/s/ Nicholas Bell	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Nicholas Bell	 	 
	 	 	Title: Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	COMERICA BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Casey L. Stevenson	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Casey L. Stevenson	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	LLOYDS TSB BANK PLC, as a Lender	 	 
	 

	 	By:
	 	/s/ Mario Del Duca	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Mario Del Duca	 	 
	 	 	Title: Associate Director
Corporate Banking USA D029	 	 
	 

	 	By:
	 	/s/ Andrew J. Roberts	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Andrew J. Roberts	 	 
	 	 	Title: Director Corporate Banking USA R089	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	NATIXIS (fka NATEXIS BANQUES POPULAIRES), as a Lender	 	 
	 

	 	By:
	 	/s/ Marie-Edith Dugeny	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Marie-Edith DUGENY	 	 
	 	 	Title: Managing Director Real Estate Finance	 	 
	 

	 	By:
	 	/s/ Guillaume DE PARSCAU	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Guillaume DE PARSCAU	 	 
	 	 	Title: Managing Director Business Development	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	GUARANTY BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Amy Satsky	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Amy Satsky	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	EMIGRANT BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Chris Grey	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Chris Grey	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	PNC BANK, NATIONAL ASSOCIATION, as a Lender	 	 
	 

	 	By:
	 	/s/ Douglas G. Paul	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Douglas G. Paul	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	THE GOVERNOR AND
COMPANY OF THE BANK OF IRELAND, as a Lender	 	 
	 

	 	By:
	 	/s/ Noelle McGrath	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Noelle McGrath	 	 
	 	 	Title: Authorised Signatory	 	 
	 

	 	By:
	 	/s/ Carla Ryan	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Carla Ryan	 	 
	 	 	Title: Authorised Signatory	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CALIFORNIA BANK & TRUST, a California banking
corporation, as a Lender	 	 
	 

	 	By:
	 	/s/ Bruce K. Weyers	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Bruce K. Weyers	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CITY NATIONAL BANK,
a national banking association, as a Lender	 	 
	 

	 	By:
	 	/s/ Xavier Barrera	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Xavier Barrera	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	FIFTH THIRD BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Sean Devillers	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Sean Devillers	 	 
	 	 	Title: Officer	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	MIZUHO CORPORATE BANK, LTD., as a Lender	 	 
	 

	 	By:
	 	/s/ Raymond Ventura	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Raymond Ventura	 	 
	 	 	Title: Deputy General Manager	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	SOCIÉTÉ GÉNÉRALE, as a Lender	 	 
	 

	 	By:
	 	/s/ Eric E.O. Siebert, Jr.	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Eric E.O. Siebert, Jr.	 	 
	 	 	Title: Managing Director	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	UNION BANK OF CALIFORNIA N.A., as a Lender	 	 
	 

	 	By:
	 	/s/ Brent Hennis	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Brent Hennis	 	 
	 	 	Title: AVP	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CHEVY CHASE BANK, F.S.B., as a Lender	 	 
	 

	 	By:
	 	/s/ Alexandra M. Johns	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Alexandra M. Johns	 	 
	 	 	Title: Group Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	COMPASS BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Johanna Duke Paley	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Johanna Duke Paley	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	AMERICAN SAVINGS BANK FSB, as a Lender	 	 
	 

	 	By:
	 	/s/ Larry Ishii	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Larry Ishii	 	 
	 	 	Title: Vice President	 	 
	 

	 	By:
	 	/s/ Terence Yeh	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Terence Yeh	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF HAWAII, as a Lender	 	 
	 

	 	By:
	 	/s/ Brain H. Uemori	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Brain H. Uemori	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	FIRST HAWAIIAN BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Stephen M. Franklin	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Stephen M. Franklin	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	THE NORTHERN TRUST COMPANY, as a Lender	 	 
	 

	 	By:
	 	/s/ Cory Schuster	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Cory Schuster	 	 
	 	 	Title: Second Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH, as
a Lender	 	 
	 

	 	By:
	 	/s/ Jim C.Y. Chen	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Jim C.Y. Chen	 	 
	 	 	Title: VP & General Manager	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	LEGACY TEXAS BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Eric Sonneborn	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Eric Sonneborn	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD. NEW YORK
BRANCH, as a Lender	 	 
	 

	 	By:
	 	/s/ Nae-Yee Lung	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Nae-Yee Lung	 	 
	 	 	Title: SVP & General Manager	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	MALAYAN BANKING BERHAD, NEW YORK BRANCH, as a Lender	 	 
	 

	 	By:
	 	/s/ Fauzi Zulkifli	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Fauzi Zulkifli	 	 
	 	 	Title: General Manager	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	NATIONAL CITY BANK, as a Lender	 	 
	 

	 	By:
	 	/s/ Gary Sieveking	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Gary Sieveking	 	 
	 	 	Title: Senior Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

	 	 	 	 	 	 	 
	 	 	COMMERZBANK AG, NEW
YORK AND GRAND CAYMAN BRANCHES, as a Lender	 	 
	 

	 	By:
	 	/s/ Edward C.A. Forsberg, Jr.	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Edward C.A. Forsberg, Jr	 	 
	 	 	Title: SVP & Manager	 	 
	 

	 	By:
	 	/s/ Nivedita Persaud	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Nivedita Persaud	 	 
	 	 	Title: Vice President	 	 

SIGNATURE PAGE TO SECOND AMENDMENT TO REVOLVING CREDIT AGREEMENT

 

 

SCHEDULE 1

GUARANTORS

INITIAL GUARANTORS as of December 16, 2005

C. Richard Dobson Builders, Inc., a Virginia corporation

CH Investments of Texas, Inc., a Delaware corporation

CHI Construction Company, an Arizona corporation

CHTEX of Texas, Inc., a Delaware corporation

Continental Homes, Inc., a Delaware corporation

Continental Homes of Texas, L.P., a Texas limited partnership

Continental Residential, Inc., a California corporation

D.R. Horton-Emerald, Ltd., a Texas limited partnership

D.R. Horton, Inc.-Birmingham, an Alabama corporation

D.R. Horton, Inc.-Chicago, a Delaware corporation

D.R. Horton, Inc.-Denver, a Delaware corporation

D.R. Horton, Inc.-Dietz-Crane, a Delaware corporation

D.R. Horton, Inc.-Greensboro, a Delaware corporation

D.R. Horton, Inc.-Jacksonville, a Delaware corporation

D.R. Horton, Inc.-Louisville, a Delaware corporation

D.R. Horton, Inc.-Minnesota, a Delaware corporation

D.R. Horton, Inc.-New Jersey, a Delaware corporation

D.R. Horton, Inc.-Portland, a Delaware corporation

D.R. Horton, Inc.-Sacramento, a California corporation

D.R. Horton, Inc.-Torrey, a Delaware corporation

D.R. Horton Los Angeles Holding Company, Inc., a California corporation

D.R. Horton Management Company, Ltd., a Texas limited partnership

D.R. Horton Materials, Inc., a Delaware corporation

D.R. Horton Orange County, Inc., a Delaware corporation

D.R. Horton San Diego Holding Company, Inc., a California corporation

D.R. Horton-Texas, Ltd., a Texas limited partnership

DRH Cambridge Homes, Inc., a California corporation

DRH Cambridge Homes, LLC, a Delaware limited liability company

DRH Construction, Inc., a Delaware corporation

D. R. Horton, Inc.-Fresno, a Delaware corporation

D.R. Horton, Inc.-Gulf Coast, a Delaware corporation

DRH Regrem VII, LP, a Texas limited partnership

DRH Regrem VIII, LLC, a Delaware limited liability company

DRH Southwest Construction, Inc., California corporation

DRH Tucson Construction, Inc., a Delaware corporation

DRHI, Inc., a Delaware corporation

KDB Homes, Inc., a Delaware corporation

Meadows I, Ltd., a Delaware corporation

Meadows II, Ltd., a Delaware corporation

Meadows VIII, Ltd., a Delaware corporation

Meadows IX, Inc., a New Jersey corporation

Meadows X, Inc., a New Jersey corporation

 

 

SGS Communities at Grande Quay, LLC, a New Jersey limited liability company

D.R. Horton-Schuler Homes, LLC, a Delaware limited liability company

HPH Homebuilders 2000, L.P., a California limited partnership

Melody Homes, Inc., a Delaware corporation

Melmort Co., a Colorado corporation

Schuler Homes of Arizona LLC, a Delaware limited liability company

Schuler Homes of California, Inc., a California corporation

Schuler Homes of Oregon, Inc., an Oregon corporation

Schuler Homes of Washington, Inc., a Washington corporation

Schuler Mortgage, Inc., a Delaware corporation

Schuler Realty Hawaii, Inc., a Hawaii corporation

SHA Construction LLC, a Delaware limited liability company

SHLR of California, Inc., a California corporation

SHLR of Colorado, Inc., a Colorado corporation

SHLR of Nevada, Inc., a Nevada corporation

SHLR of Utah, Inc., a Utah corporation

SHLR of Washington, Inc., a Washington corporation

SRHI LLC, a Delaware limited liability company

SSHI LLC, a Delaware limited liability company

The Club at Pradera, Inc., a Delaware corporation

Vertical Construction Corporation, a Delaware corporation

Western Pacific Funding, Inc., a California corporation

Western Pacific Housing Co., a California limited partnership

Western Pacific Housing Management, Inc., a California corporation

Western Pacific Housing, Inc., a Delaware corporation

Western Pacific Housing-Antigua, LLC, a Delaware limited liability company

Western Pacific Housing-Aviara, L.P., a California limited partnership

Western Pacific Housing-Boardwalk, LLC, a Delaware limited liability company

Western Pacific Housing-Broadway, LLC, a Delaware limited liability company

Western Pacific Housing-Canyon Park, LLC, a Delaware limited liability company

Western Pacific Housing-Carmel, LLC, a Delaware limited liability company

Western Pacific Housing-Carrillo, LLC, a Delaware limited liability company

Western Pacific Housing-Communications Hill, LLC, a Delaware limited liability company

Western Pacific Housing-Copper Canyon, LLC, a Delaware limited liability company

Western Pacific Housing-Creekside, LLC, a Delaware limited liability company

Western Pacific Housing-Culver City, L.P., a California limited partnership

Western Pacific Housing-Del Valle, LLC, a Delaware limited liability company

Western Pacific Housing-Lomas Verdes, LLC, a Delaware limited liability company

Western Pacific Housing-Lost Hills Park, LLC, a Delaware limited liability company

Western Pacific Housing-McGonigle Canyon, LLC, a Delaware limited liability company

Western Pacific Housing-Mountaingate, L.P. a California limited partnership

Western Pacific Housing-Norco Estates, LLC, a Delaware limited liability company

Western Pacific Housing-Oso, L.P., a California limited partnership

Western Pacific Housing-Pacific Park II, LLC, a Delaware limited liability company

Western Pacific Housing-Park Avenue East, LLC, a Delaware limited liability company

Western Pacific Housing-Park Avenue West, LLC, a Delaware limited liability company

Western Pacific Housing-Playa Vista, LLC, a Delaware limited liability company

 

 

Western Pacific Housing-Poinsettia, L.P., a California limited partnership

Western Pacific Housing-River Ridge, LLC, a Delaware limited liability company

Western Pacific Housing-Robinhood Ridge, LLC, a Delaware limited liability company

Western Pacific Housing-Santa Fe, LLC, a Delaware limited liability company

Western Pacific Housing-Scripps II, LLC, a Delaware limited liability company

Western Pacific Housing-Scripps, L.P., a California limited partnership

Western Pacific Housing-Seacove, L.P., a California limited partnership

Western Pacific Housing-Studio 528, LLC, a Delaware limited liability company

Western Pacific Housing-Terra Bay Duets, LLC, a Delaware limited liability company

Western Pacific Housing-Torrance, LLC, a Delaware limited liability company

Western Pacific Housing-Torrey Commercial, LLC, a Delaware limited liability company

Western Pacific Housing-Torrey Meadows, LLC, a Delaware limited liability company

Western Pacific Housing-Torrey Multi-Family, LLC, a Delaware limited liability company

Western Pacific Housing-Torrey Village Center, LLC, a Delaware limited liability company

Western Pacific Housing-Vineyard Terrace, LLC, a Delaware limited liability company

Western Pacific Housing-Windemere, LLC, a Delaware limited liability company

Western Pacific Housing-Windflower, L.P., a California limited partnership

WPH-Camino Ruiz, LLC, a Delaware limited liability company

D.R. Horton LA North, Inc. (f/k/a DRH Regrem X, Inc.), a Delaware corporation

DRH Regrem XI, Inc. a Delaware corporation

DRH Regrem XII, LP, a Texas limited partnership

ADDITIONAL GUARANTORS as of June 13, 2006

D.R.
Horton, Inc.-Los Angeles, a Delaware corporation

DRH Regrem XIII, Inc., a Delaware corporation

DRH Regrem XIV, Inc., a Delaware corporation

DRH Regrem XV, Inc., a Delaware corporation

DRH Regrem XVI, Inc., a Delaware corporation

DRH Regrem XVII, Inc., a Delaware corporation

DRH Regrem XVIII, Inc., a Delaware corporation

DRH Regrem XIX, Inc., a Delaware corporation

DRH Regrem XX, Inc., a Delaware corporation

DRH Regrem XXI, Inc., a Delaware corporation

DRH Regrem XXII, Inc., a Delaware corporation

DRH Regrem XXIII, Inc., a Delaware corporation

DRH Regrem XXIV, Inc., a Delaware corporationexv10w52

 

Exhibit 10.52

THIRD AMENDMENT TO THE WATERS CORPORATION

1996 NON-EMPLOYEE DIRECTOR DEFERRED COMPENSATION PLAN

     WHEREAS, Waters Corporation (the “Company”) has established and maintains a deferred
compensation plan for the benefit of non-employee directors of the Company entitled the Waters
Corporation 1996 Non-Employee Director Deferred Compensation Plan (the “Plan”).

     WHEREAS, the Company deems it necessary and/or advisable to make certain administrative
changes to the Plan.

     NOW, THEREFORE, in accordance with the power of amendment contained in Section 6 of the Plan,
the Company having heretofore taken all necessary action to amend the Plan, the Plan is hereby
amended, as follows, effective as provided herein:

	 	1.	 	Effective January 1, 2007, Subparagraph 2(h) of the Plan is hereby
amended to read in its entirety as follows:
	 
	 	 	 	“‘Fees Payment Date’ shall mean the last business day for the Company of
each fiscal quarter in which the Director’s Fees were earned.”
	 
	 	2.	 	Effective January 1, 2005, Subparagraph 4(a) of the Plan is hereby
amended to read in its entirety as follows:

(i) With respect to amounts deferred prior to January 1, 2005, a
Participant may elect to defer receipt of all (but not less than all) of
his or her Fees by filing the appropriate election form with the Corporate
Secretary at least six (6) months before the Fees Payment Date to which
the election applies. A Participant may amend or terminate an election
under the Subparagraph 4(a) by written notice to the Corporate Secretary.
Such amendment or termination shall be effective for Fees payable no
earlier than six (6) months from the date of delivery of such notice to
the Corporate Secretary. Such amendment or termination shall not affect
the time or manner of payment of previously deferred Fees.
Notwithstanding the foregoing, no deferral shall be permitted to the
extent prohibited by applicable law.

(ii) With respect to amounts deferred on or after January 1, 2005, a
Participant may elect to defer receipt of all (but not less than all) of
his or her Fees by filing the appropriate form with the Company by
December 31 of the year prior to the calendar year in

 

 

which the Fees will be earned. In the case of a new Director, an election
to defer Fees must be filed within 30 days after the commencement of the
Director’s service and shall apply only to fees for service after the date
of such election. Any deferral election under this Subparagraph 4(a) is
irrevocable during any calendar year for which it is in effect and may not
be amended or terminated.”

	 	3.	 	Effective January 1, 2005, Subparagraph 4(b) of the Plan is hereby
amended to read in its entirety as follows:

(i) With respect to amounts deferred before January 1, 2005, and subject
to Subparagraph 4(h), a Participant may elect to defer receipt of Fees
until (i) a specified date at least six (6) months in the future or (ii)
cessation of the Participant’s service as a member of the Board of
Directors.

(ii) With respect to amounts deferred on or after January 1, 2005, and
subject to Subparagraph 4(h), a Participant may elect to defer receipt of
Fees until (i) a specified future date (but no earlier than the first day
of the second year following the year of deferral) or (ii) cessation of
the Participant’s service as a member of the Board of Directors. A
Participant may only make a change to the election in this Subparagraph
4(b) at least 12 months prior to the originally scheduled date of first
payment and such election must delay payment at least five years from the
originally scheduled payment date. Provided, however, that a Participant
may not elect to accelerate a payment.”

	 	4.	 	Effective January 1, 2007, the first sentence of the first paragraph
of Subparagraph 4(e)(i) of the Plan is hereby amended to read in its entirety
as follows:
	 
	 	 	 	“If the Participant elects his or her Fees to be deemed invested in Common
Stock Units, such amounts shall be credited to his or her Account in the
following manner. On the Fees Payment Date to which the deferral applies,
the amount deferred shall be converted into a number of Common Stock Units
by dividing the amount of Fees payable by the average Stock Price of the
Company’s Common Stock for the fiscal quarter ending on the Fees Payment
Date.”
	 
	 	5.	 	Effective January 1, 2007, the second sentence of Subparagraph
4(e)(ii) of the Plan is hereby amended to read in its entirety as follows:

 

 

	 	 	 	“Interest shall be credited thereon from the date such cash is received to
the last date of each fiscal quarter, at a rate per annum (computed on the
basis of a 360 day year and a 90 day quarter) equal to the sum of (1) the
“prime rate” announced by Bank of America as in effect on the January 1st
of the year in which the Fees are earned, plus (2) 50 basis points.
	 
	 	6.	 	Effective January 1, 2005, Subparagraph 4(f)(ii) of the Plan is
hereby amended to read in its entirety as follows:
	 
	 	 	 	“if a Participant has elected to defer his or her Fees until cessation of
his or her service as a member of the Board of Directors, whether the
termination is due to resignation, retirement, disability, death or
otherwise, payment shall be made or shall commence, as the case may be,
within thirty (30) days after the final Fees Payment Date; and”
	 
	 	7.	 	Effective January 1, 2005, the last sentence of Subparagraph
4(h)(iii) of the Plan is hereby amended to read in its entirety as follows:
	 
	 	 	 	“Cash shall be paid to a Participant in lieu of a fractional share,
determined by reference to the Stock Price on the date as of which the
distribution event occurs.”
	 
	 	8.	 	Effective January 1, 2007, Section 5 of the Plan is amended to read
in its entirety as follows:
	 
	 	 	 	“The Compensation Committee of the Board of Directors (the “Committee”)
shall administer the Plan; provided, however, that at any time and on any
one or more occasions the Board of Directors may itself exercise any of
the powers and responsibilities assigned the Committee under the Plan and
when so acting shall have the benefit of all of the provisions of the Plan
pertaining to the Committee’s exercise of its authorities hereunder. The
Committee shall have plenary authority in its discretion to interpret the
Plan; to prescribe, amend and rescind rules and regulations relating to
it; to determine the terms of Fees deferral agreements executed and
delivered under the Plan, including such terms and provisions as shall be
requisite in the judgment of the Committee to conform to any change in any
law or regulation applicable thereto; and to make all other determinations
deemed necessary or advisable for the administration of the Plan. The
Committee’s determination on the foregoing matters shall be conclusive.”

 

 

	 	9.	 	Effective January 1, 2007, the first sentence of Section 6 of the
Plan is amended to read in its entirety as follows:
	 
	 	 	 	“The Committee may at any time terminate the Plan or make such
modification or amendment of the Plan as it shall deem advisable;
provided, however, that no amendment may be made, without the approval by
the holders of Common Stock, which would (i) materially increase the
benefits accruing to Participants under the Plan, (ii) increase the
maximum number of shares reserved for issuance under the Plan, or (iii)
amend the requirements as to the class of persons eligible to participate
in the Plan and, provided further, that no modification or amendment of
the Plan shall reduce any amount already credited to a Participant’s
Account as of the effective date of such modification or amendment.”
	 
	 	10.	 	Effective January 1, 2005, Section 10 of the Plan is amended by
adding at the end thereof the following paragraph to read in its entirety as
follows:
	 
	 	 	 	“Notwithstanding anything herein to the contrary, the parties intend that
no amount payable to Participants hereunder shall be subject to the
provisions of Section 409A(a)(1) of the Internal Revenue Code of 1986, as
amended, and this Plan shall be interpreted and administered accordingly.”

     IN WITNESS WHEREOF, the Company has caused this amendment to be signed on its behalf by its
duly authorized representative this 12th day of April, 2007.

	 	 	 	 	 
	 	WATERS CORPORATION

 	 
	 	By:  	/s/ Elizabeth B. Rae
 	 
	 	 	Its: Corporate Vice President, Human
Resources

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