Document:

Twelfth Supplemental Indenture

 EXHIBIT 4.1 
  

 TWELFTH SUPPLEMENTAL INDENTURE 
 by and among 
 STANDARD PACIFIC CORP. AND THE GUARANTORS PARTY HERETO

 and 
 J.P. MORGAN
TRUST COMPANY, NATIONAL ASSOCIATION, 
 as Trustee 
  

 Dated as of May 5, 2006

  

 (Supplemental
to the Indenture dated as of April 1, 1999) 
  

 TWELFTH SUPPLEMENTAL INDENTURE 
 This Twelfth Supplemental Indenture, dated as of May 5, 2006 (the “Twelfth Supplemental Indenture”), is entered into among Standard
Pacific Corp., a Delaware corporation (the “Company”), the guarantors listed on the signature pages hereto (the “Guarantors”), and J.P. Morgan Trust Company, National Association (as successor in interest to Bank One Trust
Company, N.A. and The First National Bank of Chicago), as trustee (the “Trustee”). 
 W I T N E S S E T H: 
 WHEREAS, this Twelfth Supplemental Indenture supplements the Indenture, dated as of April 1, 1999 (the “Original Indenture”), by and
between the Company and the Trustee, as previously supplemented by the First Supplemental Indenture dated as of April 13, 1999 (the “First Supplemental Indenture”), the Second Supplemental Indenture dated as of September 5, 2000
(the “Second Supplemental Indenture”), the Third Supplemental Indenture dated as of December 28, 2001 (the “Third Supplemental Indenture”), the Fourth Supplemental Indenture dated as of March 4, 2003 (the “Fourth
Supplemental Indenture”), the Fifth Supplemental Indenture dated as of May 12, 2003 (the “Fifth Supplemental Indenture”), the Sixth Supplemental Indenture dated as of September 23, 2003 (the “Sixth Supplemental
Indenture”), the Seventh Supplemental Indenture dated as of March 11, 2004 (the “Seventh Supplemental Indenture”), the Eighth Supplemental Indenture dated as of March 11, 2004 (the “Eighth Supplemental Indenture”),
the Ninth Supplemental Indenture dated as of August 1, 2005 (the “Ninth Supplemental Indenture”), the Tenth Supplemental Indenture dated as of August 1, 2005 (the “Tenth Supplemental Indenture”), and the Eleventh
Supplemental Indenture dated as of February 22, 2006 (the “Eleventh Supplemental Indenture”, and together with the First Supplemental Indenture, the Second Supplemental Indenture, the Third Supplemental Indenture, the Fourth
Supplemental Indenture, the Fifth Supplemental Indenture, the Sixth Supplemental Indenture, the Seventh Supplemental Indenture, the Eighth Supplemental Indenture, the Ninth Supplemental Indenture and the Tenth Supplemental Indenture, collectively,
the “Supplemental Indentures”, and the Supplemental Indentures together with the Original Indenture, collectively, the “Indenture”); 
 WHEREAS, the following series of Securities have been previously issued by the Company and remain outstanding under the Indenture: 7% Senior Notes due 2015 in the original aggregate principal amount of $175,000,000
issued pursuant to the Tenth Supplemental Indenture (the “7% Senior Notes”); 6 1/4% Senior Notes due
2014 in the original aggregate principal amount of $150,000,000 issued pursuant to the Eighth Supplemental Indenture (the “6 1/4% Senior Notes”); 7 3/4% Senior Notes due 2013 in the original aggregate principal
amount of $125,000,000 issued pursuant to the Fourth Supplemental Indenture (the “7 3/4% Senior
Notes”); 6 7/8% Senior Notes due 2011 in the original aggregate principal amount of $175,000,000 issued
pursuant to the Fifth Supplemental Indenture (the “6 7/8% Senior Notes”); 6 1/2% Senior Notes due 2010 in the original aggregate principal amount of $175,000,000 issued pursuant to the Ninth
Supplemental Indenture (the “2010 6 1/2% Senior Notes”); 5 1/8% Senior Notes due 2009 in the original aggregate principal amount of $150,000,000 issued pursuant to the Seventh

  

 1 

 
Supplemental Indenture (the “5 1/8% Senior Notes”); and the 6 1/2% Senior Notes due 2008 in the original aggregate
principal amount of $150,000,000 issued pursuant to the Sixth Supplemental Indenture (the “2008 6 1/2%
Senior Notes”, and together with the 7% Senior Notes, the 6 1/4% Senior Notes, the 7 3/4% Senior Notes, the 6 7/8% Senior Notes, the 2010 6 1/2% Senior Notes and the 5 1/8% Senior Notes, collectively, the “Notes”);

 WHEREAS, pursuant to Section 6.03 of the Fourth, Fifth, Sixth, Seventh,
Eighth, Ninth and Tenth Supplemental Indentures, the Company will not, and will not permit any Restricted Subsidiary (as defined in the Original Indenture) to, issue, assume guarantee or suffer to exist any Indebtedness (as defined in each of the
Supplemental Indentures set forth in this paragraph) secured by any Lien upon any property of the Company or any Restricted Subsidiary, or on any shares of stock of any Restricted Subsidiary, without in any case effectively providing that any series
of Notes issued pursuant to such Supplemental Indentures shall be secured equally and ratably with such Indebtedness. 
 WHEREAS,
(i) the Revolving Credit Agreement dated as of August 31, 2005, as amended as of May 3, 2006, (the “Revolving Credit Agreement”) among the Company, the Lenders referred to therein, and Bank of America, N.A., as
Administrative Agent, and (ii) the Term Loan A Credit Agreement dated as of May 3, 2006 (the “Term Loan A Credit Agreement”) among the Company, the Lenders referred to therein, and Bank of America, N.A., as Administrative Agent,
each restrict Liens on Indebtedness (provided that the Revolving Credit Agreement and the Term Loan A Credit Agreement permit the Liens described below under arrangements providing that such Liens secure the obligations under the Revolving Credit
Agreement or the Term Loan Credit Agreement, as applicable, equally and ratably with such other Indebtedness). 
 WHEREAS, pursuant to the
Term Loan B Credit Agreement dated as of May 3, 2006 (the “Term Loan B Credit Agreement”) among the Company, the Lenders referred to therein, and Bank of America, N.A., as Administrative Agent, the Company and the Pledgor Subsidiaries
have granted liens in the stock (or other equity interests) of certain Subsidiaries of the Company to secure the obligations of the Company and the respective Pledgor Subsidiaries under the Term Loan B Credit Agreement; 
 WHEREAS, the Subsidiaries the stock (or other equity interests) of which has been pledged pursuant to the terms of the Term Loan B Credit Agreement are
Restricted Subsidiaries pursuant to the terms of the Indenture and the Notes; 
 WHEREAS, the Company and the Guarantors desire to supplement
and amend the Indenture to secure the Notes equally and ratably with the obligations of the Company and the Pledgor Subsidiaries under the Term Loan B Credit Agreement, the Term Loan A Credit Agreement and the Revolving Credit Agreement; 

WHEREAS, pursuant to Section 9.01 of the Original Indenture, the Company and the Trustee may execute a supplemental indenture without the consent
of the holders of the Outstanding Notes to secure the Notes and to make any change that does not adversely affect the rights of the Holders; and 
  

 2 

 WHEREAS, the Company and the Guarantors hereby certify that all covenants and conditions precedent, if
any, provided for in the Indenture relating to the execution, delivery and performance of this Twelfth Supplemental Indenture have been complied with, and all things necessary to make this Twelfth Supplemental Indenture a valid agreement of the
Company, the Guarantors and the Trustee, in accordance with its terms, and a valid amendment of, and supplement to, the Indenture have been done. 
 NOW, THEREFORE, the parties hereto agree, as follows: 
 ARTICLE ONE 
 SCOPE OF TWELFTH SUPPLEMENTAL INDENTURE 
 Section 1.01. Scope. This
Twelfth Supplemental Indenture constitutes an integral part of the Indenture and this Twelfth Supplemental Indenture shall be read together with the Indenture as though all the provisions thereof are contained in one instrument. Except as expressly
amended by this Twelfth Supplemental Indenture, the terms and provisions of the Indenture shall remain in full force and effect. 
 Section 1.02. Definitions. Any capitalized term used in this Twelfth Supplemental Indenture and not defined herein that is defined in the Indenture shall have the meaning specified in the Indenture, unless the context shall
otherwise require. 
  

	 	(a)	“Collateral” means the property of the Company and the Pledgor Subsidiaries which is at any time subject to the Pledge Agreement.

  

	 	(b)	“Collateral Agent” means Bank of America, N.A., in its capacity as Collateral Agent under the Pledge Agreement and the Intercreditor Agreement, and
its successors, assigns and replacements in such capacity. 

  

	 	(c)	“Collateral Documents” means, collectively, the Pledge Agreement, the Intercreditor Agreement and any agreements, documents, or instruments (including
UCC financing statements) required to be executed pursuant to the foregoing and relating to the Collateral referred to therein, in each case as amended or modified from time to time. 

  

	 	(d)	“Collateral Release” means a release of Collateral following a Collateral Release Date. 

  

	 	(e)	“Collateral Release Date” means any date on which all Liens on the Collateral are released in accordance with the terms of the Indenture or the
Collateral Documents. 

  

	 	(f)	“Intercreditor Agreement” means the Collateral Agent and Intercreditor Agreement dated as of May 3, 2006 among the Collateral Agent, the Trustee,
the Company and the Pledgor Subsidiaries. 

  

 3 

	 	(g)	“Pledge Agreement” means the Pledge Agreement dated as of May 3, 2006 among the Company, the Subsidiaries of the Company party thereto and
the Collateral Agent granting a lien to the Collateral Agent for the benefit of the holders of the Qualified Obligations, in each case as at any time amended, modified, supplemented, renewed or extended. 

  

	 	(h)	“Pledgor Subsidiaries” has the meaning given in the Pledge Agreement. 

  

	 	(i)	“Qualified Obligations” has the meaning given in the Pledge Agreement. 

  

	 	(j)	“Secured Obligations” has the meaning given in the Pledge Agreement. 

  

	 	(k)	“Trigger Event” has the meaning given in the Intercreditor Agreement. 

  

	 	(l)	Any capitalized term used in this Twelfth Supplemental Indenture and not defined in the Indenture shall have the meaning specified in the Indenture, unless the context shall
otherwise require. 

 ARTICLE TWO 
 COLLATERAL AND SECURITY 
 Section 2.01. Execution Of Collateral Documents. The Trustee, at the
Company’s expense, will execute and deliver and the Company and each Guarantor will execute, deliver, file and record the Intercreditor Agreement and all other instruments and do all acts and other things as may be reasonably necessary to
provide for the Liens under the Pledge Agreement, in accordance with the terms of the Collateral Documents and this Indenture. 
 Section 2.02. Collateral Documents. The due and punctual payment of the principal of, premium, if any, and interest on the Notes when and as the same shall be due and payable, whether on an interest payment date, at maturity, by
acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of and interest (to the extent permitted by law), if any, on the Notes and performance of all other obligations of the Company and the Pledgor Subsidiaries to
the Holders of the outstanding Notes or the Trustee under this Indenture, the Guarantees and the Notes, according to the terms hereunder or thereunder, shall be secured as provided in the Collateral Documents, subject to Section 2.04 hereof.
Each Holder of the outstanding Notes by its acceptance or retention of the Notes shall be deemed to consent and agree to the terms of the Collateral Documents (including, without limitation, the provisions providing for foreclosure and release of
Collateral) as the same may be in effect or may be amended from time to time in accordance with the terms thereof and hereof and authorizes and directs the Collateral Agent to enter into each of the Collateral Documents (including the Intercreditor
Agreement) and to perform its respective obligations and exercise its respective rights thereunder in accordance therewith. The Company will deliver to the Trustee copies of all documents delivered to the Collateral Agent pursuant to the Collateral
Documents and the Company and each Guarantor shall do or cause to be done all such acts and things as may be necessary or proper, or as may be required by the provisions of the Collateral Documents, to assure and confirm to the Trustee and the
Collateral Agent the security interest in the Collateral contemplated hereby and by the Collateral Documents, as from time to time constituted, so as to 

  

 4 

 
render the same available for the security and benefit of this Indenture and of the Notes secured hereby, according to the intent and purposes herein
expressed. The Company and each Guarantor shall take any and all actions necessary, or reasonably requested by the Trustee or Collateral Agent pursuant to the terms of the Collateral Documents, to cause the Collateral Documents to create and
maintain, as security for the obligations of the Company and each Guarantor under this Indenture and the Notes, valid, enforceable and perfected Liens in and on all the Collateral (and in all assets of the Company and any Guarantor, which under this
Indenture or any Collateral Document is required to be included in the Collateral), in favor of the Collateral Agent, equally and ratably with Liens securing other obligations secured by the Collateral Documents. 
 Section 2.03. Recording and Opinions. Promptly after the execution and delivery of this Twelfth Supplemental Indenture, and prior to the
Collateral Release Date, the Company shall furnish to the Trustee within 120 days after the end of each fiscal year of the Company an Opinion of Counsel, dated as of the date of delivery, stating that, in the opinion of such counsel, either
(i) (A) all action has been taken with respect to the recording, registering, filing, rerecording and refiling of the Indenture, all supplemental indentures, the Collateral Documents, financing statements, continuation statements or other
Collateral and all other instruments as are necessary to maintain, protect and preserve the Liens and the rights of the Holders, the Collateral Agent and the Trustee hereunder and under the Collateral Documents, and reciting the details of such
action or referring to prior Opinions of Counsel in which such details are given and (B) based on relevant laws as in effect on the date of such Opinion of Counsel, all financing statements and continuation statements have been filed that are
necessary as of such date and during the succeeding 12 months fully to preserve and protect, to the extent such protection and preservation are possible by filing, the rights of the Holders, the Collateral Agent and the Trustee hereunder and under
the Collateral Documents with respect to their Liens in the Collateral, or (ii) no such action is necessary to maintain, preserve and protect the Liens and the rights of the Holders, the Collateral Agent and the Trustee hereunder and under the
Collateral Documents during such period. Such Opinion of Counsel shall be required in addition to, and not in lieu of, any Officers’ Certificate required under this Indenture or the Collateral Documents. 
 Section 2.04. Release And Subordination Of Collateral. 
 (a) Subject to subsection (b) of this Section 2.04, Collateral may be released from the Lien and security interest created by the Collateral Documents at any time or from time to time at the sole cost and
expense of the Company only as expressly permitted by the Collateral Documents. 
 (b) In addition, Liens in respect of the Notes of any
Series may be released upon the request of the Company and the Guarantors pursuant to an Officers’ Certificate certifying that all conditions precedent hereunder have been met, and without the consent of any Holder, the Company and the
Guarantors will be entitled to releases of the Liens securing the Notes of such Series under any one or more of the following circumstances: 
 (i) payment in full of the principal of, accrued and unpaid interest and premium, if any, on the Notes of such Series and any other Obligations in respect of the Notes of such Series; 
  

 5 

 (ii) with the consent of at least [75]% in aggregate principal amount of the Notes of such Series;

 (iii) upon satisfaction and discharge in respect of the Notes of such Series as set forth under Article Eight of the Original Indenture;
or 
 (iv) Legal Defeasance or Covenant Defeasance in respect of the Notes of such Series as set forth under Article Eight of the Original
Indenture. 
 (c) The release of any Collateral from the Lien of any Collateral Document or the subordination of any Lien of any Collateral
Document shall not be deemed to impair such Lien or the Collateral under the Collateral Documents in contravention of the provisions of this Indenture or such Collateral Document if and to the extent the Collateral or Lien is released or
subordinated pursuant to, and in accordance with, this Indenture and such Collateral Document. 
 Section 2.05. Certificates
of the Company. The Company shall furnish to the Trustee, prior to each proposed Collateral Release, all documents required by TIA § 314(d). The Trustee may, to the extent permitted by Sections 7.01 and 7.02 hereof, accept as
conclusive evidence of compliance with the foregoing provisions the appropriate statements contained in such instruments. The Trustee will determine whether it has received all information required by TIA § 314(d) in connection with such
release and, based upon such determination, shall deliver a certificate to the Collateral Agent setting forth such determination. Any certificate or opinion required by TIA § 314(d) may be made by an Officer of the Company except in cases
where TIA § 314(d) requires that such certificate or opinion be made by an independent engineer, appraiser or other expert within the meaning of TIA § 314(d). 
 Section 2.06. Authorization of Actions To Be Taken By The Trustee Under the Collateral Documents. Subject to the provisions of
Section 7.01 and 7.02 hereof and Section 8 of the Intercreditor Agreement, upon a Trigger Event, the Trustee for the Holders of any Series of Notes that asserts the Trigger Event, in its sole discretion and without the consent of the
Holders of any other Series of outstanding Notes, may direct in writing the Collateral Agent to proceed to enforce the Liens granted in the favor of the Holders of such Series of Notes pursuant to the Collateral Documents. The Trustee shall not have
any right to institute an action or proceeding or to exercise any other remedy provided by the Pledge Agreement or by law or equity for the purposes of realizing upon the Liens in the Collateral other than as set forth in Section 8 of the
Intercreditor Agreement. The Trustee shall be authorized to take on behalf of the Holders of the Notes any action required to be taken by the Trustee under Section 5 of the Intercreditor Agreement. The Trustee shall be authorized to consent to
any amendment of the Pledge Agreement or the Intercreditor Agreement under, or any action under, Section 7(c), Section 7(d), Section 8(b), Section 9(c), Section 10(l) or Section 13(a) of the Intercreditor Agreement (or
any other section of the Intercreditor Agreement providing for action or consents by any Creditor Representatives (as defined in the Intercreditor Agreement) or Majority Representatives (as defined in the Intercreditor Agreement)), without the
consent of any Holders 

  

 6 

 
of Notes under the Indenture, unless such amendment or action would constitute an amendment or supplement to the Indenture or to the Notes that would require
the consent of a majority in principal amount of the Notes of any series or the consent of each affected Holder (in which case the Trustee may provide such consent or take such action if such amendment or supplement to the Notes is authorized under
the Indenture). If a Trigger Event occurs, the Trustee shall be authorized to take action, including to give an Enforcement Order (as defined in the Intercreditor Agreement) and to participate on an Enforcement Committee (as defined in the
Intercreditor Agreement), including to provide consents or take any other action thereunder, on the same basis, and subject to the same indemnifications and other protective provisions in the Indenture, as would apply to any other action taken by
the Trustee on behalf of the holders of the Notes on and after the delivery of a notice accelerating the maturity of any of the Notes under the Indenture. 
 Section 2.07. Authorization of Receipt Of Funds By The Trustee Under the Collateral Documents. The Trustee for the Holders of any Series of Notes shall receive any funds for the benefit of such Holders in
respect of the enforcement of Liens granted pursuant to the Pledge Agreement, and to make further distributions of such funds, in accordance with the provisions of the Intercreditor Agreement and this Indenture. 
 Section 2.08. Termination of Security Interest. The Trustee for the Holders of any Series of Notes, after receipt of any certificate or
opinion required by Section 2.05 and at the request of the Company and the Guarantors, will deliver a certificate to the Collateral Agent instructing the Collateral Agent to release the Liens granted in respect of the Notes of such Series
pursuant to the Pledge Agreement when such Liens may be released pursuant to the terms of this Indenture or the Collateral Documents. Upon receipt of any such instruction, the Collateral Agent shall execute, deliver or acknowledge any necessary or
proper instruments of termination, satisfaction or release to evidence the release of all such Liens. 
 ARTICLE THREE 
 MISCELLANEOUS 
 Section 3.01.
Governing Law. The laws of the State of New York shall govern this Twelfth Supplemental Indenture and the Notes. 
 Section 3.02.
No Adverse Interpretation of Other Agreements. This Twelfth Supplemental Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary. Any such indenture, loan or debt agreement may not be used
to interpret this Twelfth Supplemental Indenture. 
 Section 3.03. No Recourse Against Others. A director, officer, employee,
controlling person, manager or equity holder, as such, of the Company or the Guarantors shall not have any liability for any obligations of the Company or the Guarantors under the Notes or the Indenture or for any claim based on, in respect of or by
reason of, such obligations or their creation. Each Holder by accepting the Notes waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 
  

 7 

 Section 3.04. Successors and Assigns. All covenants and agreements of the Company and the
Guarantors in this Twelfth Supplemental Indenture and the Notes shall bind their respective successors and assigns. All agreements of the Trustee in this Twelfth Supplemental Indenture shall bind its successors and assigns. 
 Section 3.05 Duplicate Originals. The parties may sign any number of copies of this Twelfth Supplemental Indenture. Each signed copy shall be
an original, but all of them together represent the same agreement. 
 Section 3.06 Severability. In case any one or more of the
provisions contained in this Twelfth Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of
this Twelfth Supplemental Indenture or the Notes. 
 Section 3.07. Notices. Any order, consent, notice or communication shall be
sufficiently given if in writing and delivered in person or mailed by first class mail, postage prepaid, addressed as follows: 
 If to the
Company or any Guarantor: 
 c/o Standard Pacific Corp. 
 15326 Alton Parkway 
 Irvine, California 92618 
 Attn: Secretary 
 Section 3.08. Amendment and Modification. This Twelfth Supplemental Indenture may be amended, modified, or supplemented only as permitted by
the Indenture and by written agreement of each of the parties hereto. 
 The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Twelfth Supplemental Indenture or for or in respect of the recitals contained herein, or of the Collateral or any of the Collateral Documents, all of which are made solely by the Company and the
Guarantors. All of the provisions contained in the Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Twelfth Supplemental Indenture as fully and with like force and
effect as though fully set forth in full herein. The Company and the Guarantors agree to pay all amounts due to the Trustee under Section 7.07 of the Indenture arising under or in connection with this Twelfth Supplemental Indenture, the
Collateral, or the Collateral Documents. Each Series of Notes outstanding under the Indenture shall be excluded from the operation of Section 310(b)(1) of the TIA to the maximum extent permitted by the TIA and the rules, regulations and
interpretations of the SEC thereunder. 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have executed this Twelfth Supplemental Indenture by their
officers thereunto as of the date first written above. 
  

			
	STANDARD PACIFIC CORP.
		
	By:	 	 /s/ ANDREW H. PARNES

		 	 Andrew H. Parnes
 Executive Vice President –
Finance and
 Chief Financial Officer

		
	By:	 	 /s/ JOHN M. STEPHENS

		 	 John M. Stephens
 Vice President and Corporate Controller

  

 9 

			
	 GUARANTORS:
  
 LB/L – Duc II-Franceschi, LLC
 By:
Standard Pacific Corp., its Manager
 LMD El Dorado 134, LLC
 By: Standard Pacific Corp., its Manager
 Standard Pacific 1, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 2, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 3, LLC
 By: Standard
Pacific Corp., its sole member
 Standard Pacific 4, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 5, LLC.
 By: Standard Pacific Corp., its sole member
 Standard Pacific 6, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 7, LLC
 By: Standard
Pacific Corp., its sole member
 Standard Pacific 8, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 9, LLC
 By: Standard Pacific Corp., its sole member
 Standard Pacific 10, LLC
 By: Standard Pacific Corp., its sole member
 SPNS Golden Gate, LLC
 By: Standard Pacific
Corp., its Managing Member
 Standard Pacific of Tonner Hills, LLC
 By: Standard Pacific Corp., its sole member

		
	By:	 	 /s/ STEPHEN J. SCARBOROUGH

		 	 Stephen J. Scarborough
 Chairman and Chief Executive
Officer

		
	By:	 	 /s/ ANDREW H. PARNES

		 	 Andrew H. Parnes
 Executive Vice President and
 Chief Financial Officer

  

 10 

			
	Standard Pacific of Colorado, Inc.
		
	 By:
	 	 /s/ TIMOTHY C. LITTLE

	 Name:
	 	 Timothy C. Little

	 Title:
	 	 President

  

 11 

			
	 CH Construction, Inc.
 Hilltop Residential, Ltd.
 By:  Residential Acquisition GP, LLC,
          its general partner
 CH Florida, Inc.
 HSP Arizona, Inc.
 HSP Tucson, Inc.
 HWB Construction, Inc.
 HWB Investments, Inc.
 OLP Forty Development, LLC
 By:  Standard Pacific of Jacksonville,
          its Manager and Sole Member
 By:  Standard Pacific of Jacksonville GP, Inc.,
          its Managing Partner
 Residential Acquisition GP, LLC
 SP Colony Investments,
Inc.
 SP Coppenbarger Investments, Inc.
 SP La
Floresta, Inc.
 SPLB, Inc.
 Standard Pacific of
Arizona, Inc.
 Standard Pacific of Central Florida GP, Inc.
 Standard Pacific of Central Florida
 By:  Standard Pacific of Central Florida
GP,
          Inc., its Managing Partner
 Standard Pacific of Fullerton, Inc.
 Standard Pacific of
Jacksonville GP, Inc.
 Standard Pacific of Jacksonville
 By:  Standard Pacific of Jacksonville GP,
          Inc., its Managing Partner
 Standard Pacific of Orange County, Inc.
 Standard Pacific of Tucson,
Inc.
 Standard Pacific of Walnut Hills, Inc.
 Standard Pacific of South Florida, GP, Inc.
 Standard Pacific of South Florida
 By:  Standard Pacific of South Florida, GP, Inc.
          its Managing Partner
 Walnut Hills Development 268, LLC,
 By:  Standard Pacific of Walnut Hills, Inc.,
          its Member

		
	By:	 	 /s/ STEPHEN J. SCARBOROUGH

		 	 Stephen J. Scarborough
 Assistant
Secretary

		
	By:	 	 /s/ ANDREW H. PARNES

		 	 Andrew H. Parnes
 Assistant Treasurer

  

 12 

			
	 Pala Village Investments, Inc.
 Standard Pacific of Texas GP, Inc.
 Standard Pacific of Texas, L.P.
 By:  Standard Pacific of Texas GP, Inc.
          its general partner

		
	By:	 	 /s/ STEPHEN J. SCARBOROUGH

		 	 Stephen J. Scarborough
 Assistant
Secretary

		
	By:	 	 /s/ ANDREW H. PARNES

		 	 Andrew H. Parnes
 Treasurer

	
	 SP Texas Investments, Inc.
 Standard Pacific Active Adult Communities, Inc.
 Standard Pacific of Illinois, Inc.
 Westfield Homes USA, Inc.
 Standard Pacific 1,
Inc.
 Standard Pacific 2, Inc.
 Standard
Pacific 3, Inc.
 Standard Pacific 4, Inc.
 Standard Pacific 5, Inc.
 Standard Pacific 6, Inc.
 Standard Pacific 7, Inc.
 Standard Pacific 8, Inc.
 Standard Pacific 9, Inc.
 Standard Pacific 10,
Inc.

		
	By:	 	 /s/ STEPHEN J. SCARBOROUGH

		 	 Stephen J. Scarborough
 President

		
	By:	 	 /s/ ANDREW H. PARNES

		 	 Andrew H. Parnes
 Vice President &
Treasurer

  

 13 

			
	 SP Ventura Investments, Inc.
 Standard Pacific of Las Vegas, Inc.
 Standard Pacific of Southwest Florida GP, Inc.
 Standard Pacific of Southwest Florida
 By:  Standard Pacific of Southwest Florida
          GP, Inc., its Managing Partner
 Standard Pacific of Tampa GP, Inc.
 Standard Pacific of Tampa
 By:  Standard Pacific of Tampa GP, Inc.
          its Managing Partner
 Westfield Homes of the Carolinas, LLC

		
	By:	 	 /s/    STEPHEN J. SCARBOROUGH

		 	 Stephen J. Scarborough
 Assistant
Secretary

		
	By:	 	/s/    ANDREW H. PARNES
		 	 Andrew H. Parnes
 Vice President &
Treasurer

  

 14 

			
	 J.P. MORGAN TRUST COMPANY,
 NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	 /s/    SHARON
MCGRATH

		 	 Name: Sharon McGrath
 Title: Vice President

  

 15Amendment to Revolving Credit Agreement

 EXHIBIT 10.1 
 FIRST AMENDMENT OF REVOLVING CREDIT AGREEMENT 
 THIS FIRST AMENDMENT OF REVOLVING CREDIT AGREEMENT (
this “Amendment”) is dated as of May 5, 2006, and entered into by and among STANDARD PACIFIC CORP., a Delaware corporation (“Borrower”), BANK OF AMERICA, N.A., a national banking
association, as Administrative Agent for the Lenders defined below (in such capacity, together with its successors and assigns, “Administrative Agent”), and each Lender that is a signatory to this Amendment. 
 R E C I T A L S 
 A. Reference is hereby made to that certain Revolving Credit Agreement dated as of August 31, 2005, executed by Borrower, Administrative Agent, and
the Lenders defined therein (the “Credit Agreement”) pursuant to which such Lenders extended to Borrower a $925,000,000 revolving credit facility. 
 B. Capitalized terms used herein shall, unless otherwise indicated, have the respective meanings set forth in the Credit Agreement. 
 C. Borrower, Administrative Agent, Issuing Bank, and the Lenders that are signatory to this Amendment desire to modify certain provisions contained in the Credit Agreement subject to the terms and conditions set forth
herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows: 
 1. Amendments to the Credit Agreement. 
 (a) Section 1.1 is amended to add the following definitions thereto in the correct alphabetical order: 
 “Aggregate Majority Lenders” means, as of any date of determination, (a) prior to the termination of the
Commitments of Lenders pursuant to Section 9.2, Lenders and Term A Lenders holding in the aggregate at least sixty-six and two-thirds percent (66-2/3%) of the sum of (i) the Total Aggregate Commitment plus
(ii) the aggregate unpaid principal amount of the Term Loans under and as defined in the Term A Credit Agreement, and (b) on and after the termination of the Commitments pursuant to Section 9.2, Lenders and Term A
Lenders holding in the aggregate at least sixty-six and two-thirds percent (66-2/3%) of the sum of (i) the then aggregate unpaid principal amount of the Loans plus (ii) the aggregate unpaid principal amount of the Term Loans
under the Term A Credit Agreement. 
 “Collateral Agent” means Bank of America, in its capacity as
Collateral Agent under the Security Agreement and any related document, or any successor in such capacity. 
 “Collateral Agency Agreement” means the Collateral Agent and Intercreditor Agreement dated of even date with the Security Agreement, by and among Bank of America, as Collateral Agent, Bank of America in its capacity
as Administrative Agent under this Agreement, the Term A Credit Agreement, and the Term B Credit Agreement, 

 
JPMorgan Trust Company, National Association, Borrower, and Subsidiaries of Borrower party thereto, as such agreement may be amended, modified, renewed,
restated, or replaced. 
 “Hedge Agreement” means any documents evidencing any Swap Contract among
Borrower or any Affiliate of Borrower, on the one hand, and any Person who is, or at the time entered into was, a Lender or an Affiliate of a Lender, on the other hand, relating to the Obligations. 
 “Security Agreement” means the Pledge Agreement dated as of May 5, 2006, executed by Borrower and certain of
its Subsidiaries in favor of Bank of America, as Collateral Agent, for the ratable benefit of the holders of “Qualified Obligations” as defined therein, as such agreement may be amended, modified, renewed, restated, supplemented, or
replaced. 
 “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit
derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or
forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot
contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and
(b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master Agreement, or any other master agreement, including any such obligations or liabilities under any such master agreement. 
 “Term A Credit Agreement” means that certain Term Loan A Credit Agreement dated as of May 5, 2006, by and
among Borrower, Bank of America, as administrative agent, and each lender party thereto, as such agreement may be amended, modified, renewed, restated, or replaced. 
 “Term A Lenders” means, as of any date of determination, each of the “Lenders” (as defined in the
Term A Credit Agreement) party to the Term A Credit Agreement as of such date. 
 “Term B Credit
Agreement” means that certain Term Loan B Credit Agreement dated as of May 5, 2006, by and among Borrower, Bank of America, as administrative agent, and each lender party thereto, as such agreement may be amended, modified,
renewed, restated, or replaced. 
  

 2 

 (b) Section 1.1 is hereby amended to delete the definitions of “Fee
Letter,” “Loan Documents,” and “Subordinated Debt” in their entirety and replace such definitions with the following: 
 “Fee Letter” means the letter agreement, dated March 17, 2006, among Borrower, Administrative Agent, and Banc
of America Securities LLC. 
 “Loan Documents” means, collectively, this Agreement, each Note, the
Guaranty, the Guaranty of the Subsidiary Letters of Credit, the Contribution Agreement, the Fee Letter, each Issuer Document, each Letter of Credit, and the Security Agreement. Solely for the purpose of the Guaranty, “Loan
Documents” shall include each Hedge Agreement. 
 “Subordinated Debt” means:
(a) Borrower’s 9-1/4% Senior Subordinated Notes due 2012; and (b) such indebtedness of Borrower that is subordinated to the Obligations pursuant to terms and conditions approved in writing by the Aggregate Majority Lenders, and as to
which Administrative Agent has received a legal opinion, in form and substance reasonably satisfactory to Administrative Agent, confirming the subordinate status of such indebtedness in relation to the Obligations. 
 (c) Section 1.3(b) is hereby deleted in its entirety and replaced with the following: 
 (b) Notwithstanding Section 1.3(a), if at any time any change in GAAP or in any SEC rules and regulations (or the
application of such rules and regulations to Borrower) would affect the computation of any financial ratio, covenant, or requirement set forth in any Loan Document, and either Borrower or the Aggregate Majority Lenders shall so request, then
Administrative Agent, Aggregate Majority Lenders and Borrower shall negotiate in good faith to amend such ratio, covenant, or requirement to preserve the original intent thereof in light of such change (subject to the approval of the Aggregate
Majority Lenders); provided that until so amended (i) such ratio, covenant, or requirement shall continue to be computed in accordance with GAAP without giving effect to such change therein, and (ii) Borrower shall provide to
Administrative Agent and Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after
giving effect to such change. 
 (d) Section 3.3 is hereby deleted in its entirety and replaced with the following:

 3.3 Eurodollar Borrowing. 
 (a) Each request by Borrower for a Eurodollar Borrowing shall be made pursuant to a Request for Borrowing received by Administrative
Agent, at Administrative Agent’s Lending Office, not later than 12:00 p.m. at least three (3) Business Days before the first (1st) day of the applicable Interest Period. Administrative Agent will notify each Lender of its receipt of a Request for Borrowing in accordance with Section 3.1(f). 
 (b) At or about 12:00 p.m. two (2) Business Days prior to the first (1st) day of the applicable Interest Period (for either an initial advance of a Eurodollar Borrowing or any requested continuation thereof), Administrative
Agent shall determine the applicable Eurodollar Rate (which determination shall be conclusive in the absence of manifest error) and shall promptly give notice of the same to Borrower and Lenders by telephone or telecopier. 
  

 3 

 (c) With respect to each request by Borrower for a Eurodollar Borrowing, upon fulfillment
of the applicable conditions set forth in Article 6, a Eurodollar Borrowing shall become effective on the first (1st) day of the applicable Interest Period. 
 (d) Administrative Agent in its sole discretion may
require Borrower to request any Eurodollar Borrowing of $100,000,000 or more, any redesignation of a Reference Rate Borrowing of $100,000,000 or more as a Eurodollar Borrowing, or any continuation of any Eurodollar Borrowing of $100,000,000 or more
at a time or on a day which is one (1) Business Day earlier than the deadline stated above (or for continuations, stated in clause (e) below, or for redesignations of Reference Rate Borrowings, stated in Section 3.4) for
making such a request. 
 (e) If any Eurodollar Borrowing is not repaid on the last day of the applicable Interest Period,
then Borrower may request that all or a portion of such Eurodollar Borrowing be continued as a Eurodollar Borrowing by notice to Administrative Agent, at Administrative Agent’s Lending Office, not later than 12:00 p.m. at least three
(3) Business Days before the first (1st) day of the Interest Period requested for such continued Eurodollar Borrowing; provided that the Interest Period for such continued Eurodollar Borrowing shall end on or before the Maturity
Date. If no such request for continuation is made, such Eurodollar Borrowing shall automatically be redesignated as a Reference Rate Borrowing on such date. 
 (f) Nothing contained herein shall require Lenders to fund any Eurodollar Borrowing in the London interbank eurodollar market. 

(e) Section 3.4(a) is hereby deleted in its entirety and replaced with the following: 
 (a) If any Eurodollar Borrowing is not repaid on the last day of the applicable Interest Period, or continued pursuant to
Section 3.3, then such Borrowing automatically shall be redesignated as a Reference Rate Borrowing on such date. 
 (f)
Section 3.5(a) is hereby deleted in its entirety and replaced with the following: 
 (a) Borrowing
Base Certificate; Approval. The Borrowing Base shall be calculated at the times and in the manner set forth in this Section 3.5(a): 
 (i) Within forty-five (45) days after the end of each calendar quarter, and at such other times as the Aggregate Majority Lenders may reasonably require (provided that such calculation is to be made as of the
last day of a calendar month), Borrower shall provide Administrative Agent with a Borrowing Base Certificate (and Administrative Agent will promptly forward to each Lender) showing Borrower’s calculations of the components of the Borrowing Base
and such data supporting such calculations as the Aggregate Majority Lenders may require. The Aggregate Majority Lenders shall have a period of thirty (30) days following receipt of a Borrowing Base Certificate to notify Administrative Agent
(who shall notify Borrower) of the Aggregate Majority Lenders’ approval or disapproval thereof. Failure of the Aggregate 

  

 4 

 
Majority Lenders to so notify Administrative Agent and Administrative Agent to so notify Borrower within such thirty (30) day period shall be deemed
approval and such Borrowing Base as set forth in such Borrowing Base Certificate shall be effective as of the date approved (or deemed approved) by the Aggregate Majority Lenders. The amount so approved (or deemed approved) shall constitute the
Borrowing Base until such time as the Borrowing Base is redetermined in accordance with this Section 3.5(a). 
 (ii) In the event that Administrative Agent (as requested by the Aggregate Majority Lenders) timely notifies Borrower of disapproval of a Borrowing Base Certificate, then Administrative Agent shall, at the same time, notify Borrower in
writing of the amount of the Borrowing Base as reasonably determined by the Aggregate Majority Lenders and the basis of such determination, and the effective date thereof (which shall be the date of the giving of such notice by Administrative
Agent), and such amount shall thereupon and thereafter constitute the Borrowing Base which shall remain in effect until such time as the Borrowing Base is redetermined in accordance with this Section 3.5(a). The Aggregate Majority
Lenders and Borrower shall each cooperate in good faith with the other in the calculation of the Borrowing Base in circumstances where the Aggregate Majority Lenders disapprove a Borrowing Base Certificate prepared by Borrower. 
 (iii) Each determination of the Borrowing Base in accordance with this Section 3.5(a) shall be binding and conclusive
upon the parties hereto, and provided that the Aggregate Majority Lenders are not bound to rely on information and figures provided by Borrower if the Aggregate Majority Lenders determine in good faith that it would be inappropriate to do so.
Nothing contained herein shall be deemed to restrict Borrower from submitting additional Borrowing Base Certificates to Administrative Agent for the Aggregate Majority Lenders’ approval at times other than those required hereunder. 

(g) Section 3.10(b) is hereby deleted in its entirety and replaced with the following: 
 (b) At any time after the Closing Date and prior to the date that is ninety (90) days prior to the Maturity Date, Administrative
Agent shall, without the consent of Lenders (except as specified in this Section 3.10), from time to time at the request of Borrower, increase the Total Aggregate Commitment by (i) admitting additional Lenders hereunder (each
a “Subsequent Lender”), or (ii) increasing the Commitment of any Lender (each an “Increasing Lender”), subject to the following conditions: 
 (A) each Subsequent Lender is an Eligible Assignee; 
 (B) Borrower executes (x) a new Note payable to the order of a Subsequent Lender, or (y) a replacement Note payable to the order
of an Increasing Lender; 
 (C) each Subsequent Lender executes and delivers to Administrative Agent a Joinder Agreement in
the form of Exhibit D; 
  

 5 

 (D) each Increasing Lender executes and delivers to Administrative Agent an increase
certificate substantially in the form of Exhibit K; 
 (E) after giving effect to the admission of any
Subsequent Lender or the increase in the Commitment of any Increasing Lender, the Total Aggregate Commitment does not exceed $1,500,000,000 (less the amount of any reduction and termination of the Total Aggregate Commitment pursuant to
Section 4.17); 
 (F) each increase in the Total Aggregate Commitment shall be in the amount of $10,000,000
or a greater integral multiple of $1,000,000; 
 (F) no admission of any Subsequent Lender shall increase the Commitment of
any existing Lender without the written consent of such Lender; 
 (G) no Default or Event of Default exists; 
 (H) no Lender shall be an Increasing Lender without the written consent of such Lender; and 
 (I) Administrative Agent and the applicable Subsequent Lender or Increasing Lender, as the case may be, are satisfied that after giving
effect to the increase in the Total Aggregate Commitment, the Obligations constitute “senior debt” under all Subordinated Debt of Borrower. 
 After the admission of any Subsequent Lender or increase in the Commitment of any Increasing Lender, Administrative Agent shall promptly provide to each Lender and to Borrower a new Schedule 1.1(a) to
this Agreement (and each Lender acknowledges that its percentage obligation under such Schedule will change in accordance with its Pro Rata Share of the increased Total Aggregate Commitment). In the event that there are any Loans outstanding after
giving effect to an increase in the Total Aggregate Commitment pursuant to this Section 3.10, upon notice from Administrative Agent to each Lender, the amount of such Loans owing to each Lender shall be appropriately adjusted to
reflect the new Pro Rata Shares of each Lender, and Borrower shall pay any amounts required pursuant to Section 4.7. 
 (h) Article 5 is hereby deleted in its entirety and replaced with the following: 
 ARTICLE 5:
SECURITY. The Obligations shall be secured by the liens granted by Borrower pursuant to the Security Agreement, until such liens are released pursuant to the terms thereof, and any other liens granted to Administrative Agent for the ratable
benefit of Lenders pursuant to the terms of this Agreement. 
 (i) Section 7.4(a) is hereby deleted in its
entirety and replaced with the following: 
 (a) Exhibit J correctly sets forth, as of the last day of
the most recent fiscal quarter of Borrower, the names and jurisdictions of incorporation or formation of all Subsidiaries, Homebuilding Joint Ventures, and other entities in which Borrower has a direct or indirect ownership interest (but excluding
publicly-traded Persons in which Borrower, directly or indirectly, holds less than a five percent (5%) ownership interest). 

  

 6 

 
Except as described in Exhibit J, as of the end of the most recent fiscal quarter of Borrower, excluding publicly-traded Persons in which
Borrower, directly or indirectly, holds less than a five percent (5%) ownership interest, Borrower does not own any capital stock or ownership interest in any Person other than its Subsidiaries and Homebuilding Joint Ventures. All outstanding
shares of capital stock or ownership interests, as the case may be, of each Subsidiary (other than an Excluded Subsidiary) and Homebuilding Joint Venture that are owned by Borrower or any Subsidiary are (i) owned of record and beneficially by
Borrower and/or by one (1) or more Subsidiaries, free and clear of all material liens, claims, encumbrances, and rights of others (other than liens permitted under Section 8.11 or other liens that secure the Loans on a pari
passu basis with other Senior Unsecured Homebuilding Debt), and are (ii) duly authorized, validly issued, fully paid, nonassessable (except for capital calls or contribution requirements in connection with ownership interests in Homebuilding
Joint Ventures), and issued in compliance with all applicable state and federal securities and other Laws, except where the failure to comply could not reasonably be expected to have a Material Adverse Effect. Borrower may update Exhibit
J from time to time by sending written notice to Administrative Agent. 
 (j) Section 8.1(c) is hereby
deleted in its entirety and replaced with the following: 
 (c) as soon as available and in any event within ninety
(90) days after the end of each calendar year, a Form 10-K and a consolidating (unaudited) and consolidated balance sheet of Borrower and its Subsidiaries as of the end of the year most recently ended and consolidated statements of income,
stockholders equity, and cash flows of Borrower and its Subsidiaries for such year, setting forth in each case in comparative form the corresponding figures for the preceding fiscal year, such financial statements to be audited by and with the
opinion of Ernst & Young LLP (or its successors), KPMG (or its successors), Price Waterhouse Coopers (or its successors), Deloitte & Touche (or its successors), or any other independent certified public accountants of recognized
standing selected by Borrower and reasonably acceptable to Administrative Agent, which opinion shall be unqualified except as to such matters as are acceptable to the Aggregate Majority Lenders (“Acceptable Audit Opinion”);

 (k) Section 8.9 is hereby deleted in its entirety and replaced with the following: 
 8.9 Subsidiary Guaranties. Borrower shall cause each Material Subsidiary that does not provide a Guaranty hereunder on the Closing
Date to provide a Guaranty hereunder and such other documentation required by Administrative Agent, all in form and substance reasonably acceptable to Administrative Agent within thirty (30) days after the date on which such Subsidiary
qualifies as a Material Subsidiary; provided that if any Subsidiary that provides or has provided a Guaranty hereunder (i) is sold or otherwise disposed of in a transaction permitted by Section 8.16 to a Person other
than Borrower or one of Borrower’s Subsidiaries, or (ii) ceases, at any time, to qualify as a Material Subsidiary, then, upon the request of Borrower, Administrative Agent shall, so long as no Default or Event of Default exists or would
result therefrom, release such Subsidiary from its Guaranty pursuant to a release in form and substance reasonably acceptable to Administrative Agent and Borrower. Notwithstanding the foregoing, if, (a) as of the date of acquisition,
formation, or creation otherwise permitted hereunder of a new Subsidiary that is not a Material Subsidiary, the aggregate amount of assets (other than ownership 

  

 7 

 
interests in, and intercompany indebtedness of, other Subsidiaries) owned by all Subsidiaries (other than Excluded Subsidiaries) that are not Material
Subsidiaries exceeds five percent (5%) of Consolidated Tangible Net Worth, or (b) at any time any Subsidiary shall execute a guaranty of any Senior Unsecured Homebuilding Debt (other than the Loans or any Subordinated Debt), then Borrower
shall cause such Subsidiary (whether or not it is a Material Subsidiary) to provide a Guaranty under this Section 8.9. 
 (l) Section 8.11(o) is hereby deleted in its entirety and replaced with the following: 
 (o) liens granted pursuant to the Security Agreement; and 
 (p) any other liens not otherwise
specified in Subsections 8.11(a) through (o) (except for Judgment Liens and Project Financing Liens, which shall in no event be permitted), so long as the aggregate amount of indebtedness secured by all such other
liens does not at any time exceed $100,000,000. 
 (m) Section 8.13 is hereby deleted in its entirety and replaced
with the following: 
 8.13 Change in Nature of Business. Borrower shall not make, or permit any Subsidiary (other than
an Excluded Subsidiary) to make, any change in the nature of its or their respective businesses as carried on at the date hereof that is material to Borrower and Subsidiaries (excluding the Excluded Subsidiaries), taken as a whole, which has not
been consented to by the Aggregate Majority Lenders in writing. None of the following will constitute a violation of this covenant: (a) the sale or dissolution of Standard Pacific Financing, L.P. or Standard Pacific Financing, Inc.;
(b) the engaging by Borrower or a Subsidiary in or withdrawal from the mortgage brokering or banking business; (c) the engaging by Borrower or a Subsidiary in or withdrawal from any business related to the homebuilding operations of
Borrower, such as security or pest control, and including without limitation technology initiatives related to Borrower’s homebuilding operations; (d) a change in the geographic regions in the United States of America in which Borrower
operates, and (e) the reorganization of the business of Borrower and its Subsidiaries among Borrower and its Subsidiaries. 
 (n)
Section 8.17(b) is hereby deleted in its entirety and replaced with the following: 
 (b)
Investments in a Home Building Joint Venture, provided that without the prior written approval of the Aggregate Majority Lenders, Borrower shall not at any time permit the aggregate Investment of Borrower and its Subsidiaries in all
Homebuilding Joint Ventures to exceed thirty-five percent (35%) of Consolidated Tangible Net Worth; provided, however, that for purposes of this Section 8.17(b), should Borrower incur any (A) non-cash write-down
in assets under FAS 144 (or any successor thereto) or (B) other non-cash decrease in Consolidated Tangible Net Worth resulting from a change in financial accounting standards, the amount of such write-down or other decrease (less any
non-cash increase resulting from assets previously subject to such non-cash write-downs in (A) and (B) above) will be added back to the Consolidated Tangible Net Worth attributable to the net non-cash loss; provided further,
however, in no event shall the aggregate Investment in all Homebuilding Joint Ventures exceed forty percent (40%) of Consolidated Tangible Net Worth without the foregoing adjustments; 
  

 8 

 (o) Section 8.18 is hereby deleted in its entirety and replaced with the
following: 
 8.18 Consolidated Tangible Net Worth. Borrower shall not permit Consolidated Tangible Net Worth at any
time to be less than the sum of (a) $1,261,633,953 plus (b) fifty percent (50%) of the cumulative consolidated net income (without deduction for losses sustained during any fiscal quarter) of Borrower and its
Subsidiaries for each fiscal quarter subsequent to the fiscal quarter ended December 31, 2005, plus (c) fifty percent (50%) of the net proceeds from any equity offerings of Borrower from and after December 31, 2005.

 (p) Section 9.1(g) is hereby deleted in its entirety and replaced with the following: 
 (g) Any Subsidiary (other than an Excluded Subsidiary) or any Guarantor is dissolved or liquidated or all or substantially all of the
assets of any Subsidiary (other than an Excluded Subsidiary) or any Guarantor are sold or otherwise transferred or encumbered without the prior, written consent of the Aggregate Majority Lenders, in each case except to the extent permitted by
Sections 8.3, 8.10, or 8.16; or 
 (q) Section 9.1 is hereby amended to delete the
period at the end of clause (o) thereof, replace such period with a semicolon, add an “or” at the end of such clause, and add the following clauses (p) and (q): 

(p) any “Event of Default” as defined in the Term A Credit Agreement occurs and is continuing for so long as any
“Obligations” (as defined therein) remain outstanding; or 
 (q) any “Event of Default” as
defined in the Term B Credit Agreement occurs and is continuing for so long as any “Obligations” (as defined therein) remain outstanding. 
 (r) Section 10.4(a) is hereby deleted in its entirety and replaced with the following: 
 (a) Administrative Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, communication, signature, resolution, representation, notice, consent, certificate, affidavit, letter,
telegram, facsimile or telephone message, electronic mail message, statement or other document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons, and upon advice and
statements of legal counsel (including counsel to Borrower), independent accountants and other experts selected by Administrative Agent. Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or
any other Loan Document unless it shall first receive such advice or concurrence of each Lender as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by Lenders against any and all liability and expense
which may be incurred by it by reason of taking or continuing to take any such action. Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance
with a request or consent of the Aggregate Majority Lenders or Majority Lenders, as applicable (or such greater number of Lenders as may be expressly required 

  

 9 

 
hereby in any instance), and such request and any action taken or failure to act pursuant thereto shall be binding upon all of Lenders. 
 (s) Section 10.7 is hereby deleted in its entirety and replaced with the following: 
 10.7 Indemnification. Whether or not the transactions contemplated hereby are consummated, Lenders shall indemnify upon demand
Agent-Related Persons (to the extent not reimbursed by or on behalf of Borrower and without limiting the obligations of Borrower to do so), pro rata, from and against any and all liabilities covered by any indemnification hereunder; provided,
however, that no Lender shall be liable for the payment to Agent-Related Persons of any portion of such liabilities resulting solely from such Person’s gross negligence or willful misconduct as determined in a final, nonappealable judgment
by a court of competent jurisdiction; provided, further, that no action taken in accordance with the directions of the Aggregate Majority Lenders or the Majority Lenders, as applicable, shall be deemed to constitute gross negligence or
willful misconduct. Without limitation of the foregoing, each Lender shall reimburse Administrative Agent upon demand for its ratable share of any costs or out-of-pocket expenses (including Attorney Costs) incurred by Administrative Agent in
connection with the preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this
Agreement, any other Loan Document, or any document contemplated by or referred to herein, to the extent that Administrative Agent is not reimbursed for such expenses by or on behalf of Borrower and without limiting the obligation of Borrower to do
so. The undertaking in this Section 10.7 shall survive the payment of all Obligations hereunder and the resignation of Administrative Agent. 
 (t) Article 10 is hereby amended to add the following new Section 10.16: 
 10.16 Collateral Matters. 
 (a) Each Lender hereby irrevocably appoints Bank of
America to act on its behalf as Collateral Agent under the Security Agreement and the Collateral Agency Agreement and authorizes Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to Collateral Agent by
the terms of the Security Agreement and the Collateral Agency Agreement, together with such actions and powers as are reasonably incidental thereto. Lenders irrevocably authorize Collateral Agent at its option and in its discretion to release any
lien on any property granted to or held by Collateral Agent under the Security Agreement pursuant to the terms thereof and the Collateral Agency Agreement. 
 (b) Each Lender authorizes Administrative Agent to execute and deliver the Collateral Agency Agreement on behalf of such Lender, and each Lender acknowledges that, upon such execution and delivery by Administrative
Agent, such Lender shall be bound by all of the provisions of the Collateral Agency Agreement (and the actions taken by Administrative Agent as its “Creditor Representative” thereunder and as defined therein) as if it were a
signatory thereto. 
  

 10 

 (u) Section 11.1 is hereby deleted in its entirety and replaced with the
following: 
 11.1 Amendments and Waivers. No amendment or waiver of any provision of this Agreement or any other Loan
Document, and no consent with respect to any departure by Borrower or any Subsidiary therefrom, shall be effective unless the same shall be in writing and signed by the Majority Lenders (or by Administrative Agent at the written request of the
Majority Lenders), and Borrower and acknowledged by Administrative Agent, and then any such waiver of consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no waiver,
amendment, or consent described in any of clauses (a) through (j) below shall do any of the following without the written consent of the Persons required by such clause (and without the requirement
for written consent by Majority Lenders): 
 (a) increase or extend the Commitment of any Lender without the written consent
of such Lender; 
 (b) extend, postpone, or delay any date fixed by this Agreement or any other Loan Document for any payment
of all or any part of the Obligations due to Lenders (or any of them) hereunder or under any other Loan Document without the written consent of each Lender affected thereby; 
 (c) reduce the principal of, or the rate of interest specified herein on any Loan, or any fees or other amounts payable hereunder or under
any other Loan Document without the written consent of each Lender affected thereby; 
 (d) amend any provision of
Section 3.5 or 3.6 or Article 7, 8, or 9 (or any defined term used in any such Section or Article), without the written consent of Aggregate
Majority Lenders 
 (e) amend the definition of Majority Lenders without the written consent of all Lenders; 
 (f) amend the definition of Aggregate Majority Lenders without the written consent of all Lenders and all Term A Lenders; 
 (g) amend this Section 11.1 without the written consent of all Lenders; provided that no amendment to
Sections 11.1(d), (f), (g), or (h) shall be effective without the written consent of all Lenders and all Term A Lenders; 
 (h) any provision herein expressly providing for the agreement, consent or other action by all Lenders, Aggregate Majority Lenders, or both all Lenders and all Term A Lenders, as applicable, without the written
consent of all Lenders, Aggregate Majority Lenders, or all Lenders and all Term A Lenders, as applicable; 
 (i) discharge any
Guarantor without the written consent of all Lenders (except as provided in Section 8.9 and where the consent of the Majority Lenders or Aggregate Majority Lenders only is specifically provided for); 
 (j) amend Section 3.8 in a manner that would alter the pro rata sharing of payments required thereby without the
written consent of each Lender; 
  

 11 

 and, provided further, that (i) no amendment, waiver, or consent shall,
unless in writing and signed by the applicable Issuing Bank, in addition to the Lenders required above, affect the rights or duties of any Issuing Bank under this Agreement or any Loan Document relating to any Letter of Credit issued or to be issued
by it, (ii) no amendment, waiver, or consent shall, unless in writing and signed by Swing Line Lender in addition to the Lenders or Term A Lenders, as applicable, required above, affect the rights or duties of Swing Line Lender, as the maker of
Swing Line Advances under this Agreement, (iii) no amendment, waiver, or consent shall, unless in writing and signed by Administrative Agent in addition to the Lenders required above, affect the rights or duties of Administrative Agent under
this Agreement or any other Loan Document, and (iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting
Lender shall have any right to approve or disapprove any amendment, waiver, or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender. 
 (v) The Credit Agreement is hereby amended to add the following new Section 11.22: 
 11.22 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby, Borrower
acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) the credit facility provided for hereunder and any related arranging or other services in connection therewith (including in connection with any amendment,
waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction between Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Arrangers, on the other hand, and Borrower is
capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof);
(ii) in connection with the process leading to such transaction, the Administrative Agent and each Arranger is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for Borrower or any of its
Affiliates, stockholders, creditors or employees or any other Person; (iii) neither Administrative Agent nor any Arranger has assumed or will assume an advisory, agency or fiduciary responsibility in favor of Borrower with respect to any of the
transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether the Administrative Agent or any Arranger has advised
or is currently advising Borrower or any of its Affiliates on other matters) and neither the Administrative Agent nor any Arranger has any obligation to Borrower or any of its Affiliates with respect to the transactions contemplated hereby except
those obligations expressly set forth herein and in the other Loan Documents; (iv) the Administrative Agent, each Arranger, and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from
those of Borrower and its Affiliates, and neither the Administrative Agent nor any Arranger has any obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Administrative Agent and
the Arrangers have not provided and will not provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or 

  

 12 

 
of any other Loan Document) and Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate.
Borrower hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Administrative Agent and each Arranger with respect to any breach or alleged breach of agency or fiduciary duty. 
 (w) The Credit Agreement is hereby amended to add the following new Section 11.23: 
 11.23 California Judicial Reference. If any action or proceeding is filed in a court of the State of California by or against any
party hereto in connection with any of the transactions contemplated by this Agreement or any other Loan Document, (a) the court shall, and is hereby directed to, make a general reference pursuant to California Code of Civil Procedure
Section 638 et seq. to a referee (who shall be a single active or retired judge) to hear and determine all of the issues in such action or proceeding (whether of fact or of law) and to report a statement of decision, provided that at the
option of any party to such proceeding, any such issues pertaining to a “provisional remedy” as defined in California Code of Civil Procedure Section 1281.8 shall be heard and determined by the court, and (b) without
limiting the generality of Sections 11.2 and 11.12, Borrower shall be solely responsible to pay all fees and expenses of any referee appointed in such action or proceeding 
 2. Amendment of Credit Agreement and Other Loan Documents. 
 (a) All references in the Loan Documents to the Credit Agreement shall henceforth include references to the Credit Agreement, as modified and amended by this Amendment, and as may, from time to time, be further
modified, amended, renewed, extended, restated, and/or increased. 
 (b) Any and all of the terms and provisions of the Loan Documents
are hereby amended and modified wherever necessary, even though not specifically addressed herein, so as to conform to the amendments and modifications set forth herein. 
 3. Ratifications. Borrower (a) ratifies and confirms all provisions of the Loan Documents as amended by this Amendment, (b) ratifies and confirms that all guaranties, assurances, and liens granted,
conveyed, or assigned to Administrative Agent or any Lender under the Loan Documents are not released, reduced, or otherwise adversely affected by this Amendment and continue to guarantee, assure, and secure full payment and performance of the
present and future Obligations, and (c) agrees to perform such acts and duly authorize, execute, acknowledge, deliver, file, and record such additional documents, and certificates as Administrative Agent may reasonably request in order to
create, perfect, preserve, and protect such guaranties, assurances, and liens. 
 4. Representations. Borrower represents and warrants
to Administrative Agent and Lenders that as of the date of this Amendment: (a) this Amendment has been duly authorized, executed, and delivered by Borrower and each Guarantor; (b) no action of, or filing with, any Governmental Authority is
required to authorize, or is otherwise required in connection with, the execution, delivery, and performance of this Amendment by Borrower or any Guarantor; (c) the Loan Documents, as amended by this Amendment, are valid and binding upon
Borrower and each Guarantor and are enforceable against Borrower and each Guarantor in accordance with their respective terms, except as limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting
creditors’ rights generally or by general principles of equity; (d) the execution, delivery, and performance of this Amendment by 

  

 13 

 
Borrower and each Guarantor do not require the consent of any other Person and do not and will not constitute a violation of any order of any Governmental
Authority, or material agreements to which Borrower or any Guarantor is a party thereto or by which Borrower or any Guarantor is bound; (e) all representations and warranties in the Loan Documents are true and correct in all material respects
on and as of the date of this Amendment, except to the extent that (i) any of them speak to a different specific date, or (ii) the facts on which any of them were based have been changed by transactions contemplated or permitted by the
Credit Agreement; and (f) both before and after giving effect to this Amendment, no Default or Event of Default exists. 
 5.
Conditions. This Amendment shall not be effective unless and until: 
 (a) Administrative Agent shall have received this Amendment
duly executed by Borrower, each Guarantor, and each Lender; 
 (b) the representations and warranties in this Amendment are true and
correct in all material respects on and as of the date of this Amendment, except to the extent that (i) any of them speak to a different specific date, or (ii) the facts on which any of them were based have been changed by transactions
contemplated or permitted by the Credit Agreement; 
 (c) Administrative Agent shall have received a fully executed counterpart of the
Term A Credit Agreement; and 
 (d) both before and after giving effect to this Amendment, no Default or Event of Default exists.

 6. Continued Effect. Except to the extent amended hereby or by any documents executed in connection herewith, all terms,
provisions, and conditions of the Credit Agreement and the other Loan Documents, and all documents executed in connection therewith, shall continue in full force and effect and shall remain enforceable and binding in accordance with their respective
terms. 
 7. Miscellaneous. Unless stated otherwise (a) the singular number includes the plural and vice versa and words
of any gender include each other gender, in each case, as appropriate, (b) headings and captions may not be construed in interpreting provisions, (c) this Amendment must be construed — and its performance enforced — under
California law, (d) if any part of this Amendment is for any reason found to be unenforceable, all other portions of it nevertheless remain enforceable, and (e) this Amendment may be executed in any number of counterparts with the same
effect as if all signatories had signed the same document, and all of those counterparts must be construed together to constitute the same document. 
 8. Parties. This Amendment binds and inures to each party hereto and their respective successors and permitted assigns. 
 9. ENTIRETIES. THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS,
AS AMENDED BY THIS AMENDMENT, REPRESENT THE FINAL AGREEMENT BETWEEN THE
PARTIES ABOUT THE SUBJECT MATTER OF THE CREDIT AGREEMENT AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE
PARTIES. 
 [Remainder of Page Intentionally Left Blank; Signature Pages Follow] 
  

 14 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
 EXECUTED as of the day and year first
mentioned. 
  

			
	STANDARD PACIFIC CORP., a Delaware corporation
		
	 By:
	 	 /s/    ANDREW H. PARNES

		 	 Andrew H. Parnes

		 	 Executive Vice President-Finance and

		 	 Chief Financial Officer

		
	 By:
	 	 /s/    JOHN M. STEPHENS

		 	 John M. Stephens

		 	 Vice President and Corporate Controller

  

 15 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	 BANK OF AMERICA, N.A.,
 as
Administrative Agent

		
	 By:
	 	 /s/    EYAL NAMORDI

		 	 Name:
	 	 Eyal Namordi

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

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

		
	 By:
	 	 /s/ EYAL NAMORDI

		 	 Name:
	 	 Eyal Namordi

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	JPMORGAN CHASE BANK, N.A.
		
	 By:
	 	 /s/ KENT KAISER

		 	 Name:
	 	 Kent Kaiser

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	GUARANTY BANK
		
	 By:
	 	 /s/ MARK W. CUNDIFF

		 	 Name:
	 	 Mark W. Cundiff

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	THE ROYAL BANK OF SCOTLAND PLC
		
	 By:
	 	 /s/ DEVIKA ANAND

		 	 Name:
	 	 Devika Anand

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ BRIAN A. PHILLIPS

		 	 Name:
	 	 Brian A. Phillips

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	SUNTRUST BANK
		
	 By:
	 	 /s/ W. JOHN WENDLER

		 	 Name:
	 	 W. John Wendler

		 	 Title:
	 	 Senior Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	WASHINGTON MUTUAL BANK, FA
		
	 By:
	 	 /s/ ANNE D. BREHONY

		 	 Name: Anne D. Brehony

		 	 Title: Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	CREDIT SUISSE, CAYMAN ISLANDS BRANCH
		
	 By:
	 	 /s/ CASSANDRA DROOGAN

		 	 Name:
	 	 Cassandra Droogan

		 	 Title:
	 	 Vice President

		
	 By:
	 	 /s/ RIANKA MOHAN

		 	 Name:
	 	 Rianka Mohan

		 	 Title:
	 	 Associate

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	U.S. BANK NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ ADRIAN MONTERO

		 	 Name:
	 	 Adrian Montero

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	PNC BANK, NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ DOUGLAS G. PAUL

		 	 Name:
	 	 Douglas G. Paul

		 	 Title:
	 	 Senior Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	LASALLE BANK NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ LETICIA RUIZ

		 	 Name:
	 	 Leticia Ruiz

		 	 Title:
	 	 First Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	KEYBANK NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ ANDREW D. STICKNEY

		 	 Name:
	 	Andrew D. Stickney
		 	 Title:
	 	Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	COMERICA BANK
		
	 By:
	 	 /s/ JESSICA L. KEMPF

		 	 Name:
	 	Jessica L. Kempf
		 	 Title:
	 	Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	AMSOUTH BANK
		
	 By:
	 	 /s/ DANIEL MCCLURKIN

		 	 Name:
	 	Daniel McClurkin
		 	 Title:
	 	AVP

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	BANK OF THE WEST
		
	 By:
	 	 /s/ STACEY MICHROWSKI

		 	 Name:
	 	 Stacey Michrowski

		 	 Title:
	 	 Vice President

		
	 By:
	 	 /s/ JAN MANISTA

		 	 Name:
	 	 Jan Manista

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	CALYON NEW YORK BRANCH
		
	 By:
	 	 /s/ DAVID P. CAGLE

		 	 Name:
	 	 David P. Cagle

		 	 Title:
	 	 Managing Director

		
	 By:
	 	 /s/ ROBERT NELSON

		 	 Name:
	 	 Robert Nelson

		 	 Title:
	 	 Managing Director

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	CITY NATIONAL BANK
		
	 By:
	 	 /s/ XAVIER BARRERA

		 	 Name:
	 	 Xavier Barrera

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	UNION BANK OF CALIFORNIA, N.A.
		
	 By:
	 	 /s/ KANDICE K. PARSONS

		 	 Name:
	 	 Kandice K. Parsons

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	 By:
	 	 /s/ BEN SINGH

		 	 Name:
	 	 Ben Singh

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	CALIFORNIA BANK & TRUST
		
	 By:
	 	 /s/ MARISA DRURY

		 	 Name:
	 	 Marisa Drury

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	COMPASS BANK
		
	 By:
	 	 /s/ JOHANNA DUKE PALEY

		 	 Name:
	 	 Johanna Duke Paley

		 	 Title:
	 	 Senior Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	CITIBANK TEXAS, N.A.
		
	 By:
	 	 /s/    WILLIAM L.
KINARD

		 	 Name:
	 	 William L. Kinard

		 	 Title:
	 	 Senior Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	MIDFIRST BANK, a federally chartered savings association
		
	 By:
	 	 /s/    DARRIN
RIGLER

		 	 Name:
	 	 Darrin Rigler

		 	 Title:
	 	 Vice President

 Signature Page to First Amendment 

 SIGNATURE PAGE TO FIRST AMENDMENT OF CREDIT AGREEMENT 
 EXECUTED BY 
 STANDARD PACIFIC CORP.,
AS BORROWER, 
 BANK OF AMERICA, N.A., AS ADMINISTRATIVE AGENT, 
 AND THE LENDERS DEFINED THEREIN 
  

					
	NATEXIS BANQUES POPULAIRES
		
	 By:
	 	 /s/    MARIE-EDITH
DUGENY

		 	 Name:
	 	 Marie-Edith Dugeny

		 	 Title:
	 	 VP–Real Estate Group Manager

		
	 By:
	 	 /s/    GUILLAUME DE
PARSCAU

		 	 Name:
	 	 Guillaume de Parscau

		 	 Title:
	 	 First VP–Business Development

 Signature Page to First Amendment 

 To induce the Administrative Agent and Lenders to enter into this Amendment, the undersigned jointly and
severally (a) consent and agree to the Amendment’s execution and delivery, (b) ratify and confirm that all guaranties, assurances, and liens granted, conveyed, or assigned to Administrative Agent and Lenders under the Loan Documents
are not released, diminished, impaired, reduced, or otherwise adversely affected by the Amendment and continue to guarantee, assure, and secure the full payment and performance of all present and future Obligations (except to the extent specifically
limited by the terms of such guaranties, assurances, or liens), (c) agree to perform such acts and duly authorize, execute, acknowledge, deliver, file, and record such additional guaranties, assignments, security agreements, deeds of trust,
mortgages, and other agreements, documents, instruments, and certificates as Administrative Agent may reasonably deem necessary or appropriate in order to create, perfect, preserve, and protect those guaranties, assurances, and liens, and
(d) waive notice of acceptance of this consent and agreement, which consent and agreement binds the undersigned and their successors and permitted assigns and inures to the Administrative Agent and Lenders and their respective successors and
permitted assigns. 
 GUARANTORS: 
 Standard Pacific of Central Florida, formerly known as Colony Communities, dba Standard Pacific Homes, a Florida general partnership 
 Standard Pacific of Jacksonville, formerly known as Coppenbarger Homes, a Florida general partnership 
 SP La Floresta,
Inc., a Delaware corporation 
 Standard Pacific of Arizona, Inc., a Delaware corporation 
 Standard Pacific of Colorado, Inc., a Delaware corporation 
 Standard Pacific of Orange County, Inc., a Nevada corporation

 Standard Pacific of Texas, L.P., a Delaware limited partnership 
 Standard Pacific of Tonner Hills, LLC, a Delaware limited liability company 
 Walnut Hills Development 268, LLC, a California limited liability
company 
 Standard Pacific of South Florida, formerly known as Westbrooke Homes, a Florida general partnership 
 Westfield Homes of the Carolinas, LLC, a Delaware limited liability company 
 Standard Pacific of Southwest Florida, formerly known as Westfield Homes of Southwest Florida, a Florida general partnership 
 Hilltop Residential,
Ltd., a Florida limited partnership 
 Standard Pacific of Las Vegas, Inc., a Delaware corporation 
 Standard Pacific of Tucson, Inc., a Delaware corporation 
 CH Construction,
Inc., a Delaware corporation 
 CH Florida, Inc., a Delaware corporation 
 Signature Page to First Amendment 

 HSP Arizona, Inc., a Delaware corporation 
 HSP Tucson, Inc., a Delaware corporation 
 HWB Construction, Inc., a Delaware corporation 
 HWB Investments, Inc., a Delaware corporation 
 LB/L-Duc II Franceschi, LLC,
a Delaware limited liability company 
 LMD El Dorado 134, LLC, a California limited liability company 
 OLP Forty Development, LLC, a Florida limited liability company 
 Pala
Village Investments, Inc., a Delaware corporation 
 Residential Acquisition GP, LLC, a Florida limited liability company 
 SP Colony Investments, Inc., a Delaware corporation 
 SP Coppenbarger
Investments, Inc., a Delaware corporation 
 SP Texas Investments, Inc., a Delaware corporation 
 SP Ventura Investments, Inc., a Delaware corporation 
 SPLB, Inc., a
Delaware corporation 
 SPNS Golden Gate, LLC, a Delaware limited liability company 
 Standard Pacific 1, Inc., a Delaware corporation 
 Standard Pacific 1, LLC, a Delaware limited liability company 

Standard Pacific 2, Inc., a Delaware corporation 
 Standard Pacific 2,
LLC, a Delaware limited liability company 
 Standard Pacific 3, Inc., a Delaware corporation 
 Standard Pacific 3, LLC, a Delaware limited liability company 
 Standard Pacific 4, Inc., a Delaware corporation 

Standard Pacific 4, LLC, a Delaware limited liability company 
 Standard
Pacific 5, Inc., a Delaware corporation 
 Standard Pacific 5, LLC, a Delaware limited liability company 
 Signature Page to First Amendment 

 Standard Pacific 6, Inc., a Delaware corporation 
 Standard Pacific 6, LLC, a Delaware limited liability company 
 Standard Pacific 7, Inc., a Delaware corporation 

Standard Pacific 7, LLC, a Delaware limited liability company 
 Standard
Pacific 8, Inc., a Delaware corporation 
 Standard Pacific 8, LLC, a Delaware limited liability company 
 Standard Pacific 9, Inc., a Delaware corporation 
 Standard Pacific 9, LLC,
a Delaware limited liability company 
 Standard Pacific 10, Inc., a Delaware corporation 
 Standard Pacific 10, LLC, a Delaware limited liability company 
 Standard Pacific Active Adult Communities, Inc., a Delaware
corporation 
 Standard Pacific of Central Florida GP, Inc., a Delaware corporation 
 Standard Pacific of Fullerton, Inc., a Delaware corporation 
 Standard Pacific of Illinois, Inc., a Delaware corporation

 Standard Pacific of Jacksonville GP, Inc., a Delaware corporation 
 Standard Pacific of South Florida GP, Inc., a Delaware corporation 
 Standard Pacific of Southwest Florida GP, Inc., a Delaware corporation

 Standard Pacific of Tampa GP, Inc., a Delaware corporation 
 Standard Pacific of Tampa, a Florida general partnership 
 Standard Pacific of Texas GP, Inc., a Delaware corporation 
 Standard Pacific of Walnut Hills, Inc., a Delaware corporation 
 Westfield
Homes USA, Inc., a Delaware corporation 
 Lagoon Valley Residential, LLC, a California limited liability company 
 Signature Page to First Amendment 

			
		
	By:	 	 /s/    ANDREW H. PARNES

		 	Andrew H. Parnes, in his capacity as Assistant Treasurer of each of the above Guarantors which is a corporation, and in his capacity as Assistant Treasurer of each general partner or
managing member, as applicable, of each of the above Guarantors which is a partnership or limited liability company
		
	By:	 	/s/    JOHN M. STEPHENS
		 	John M. Stephens, in his capacity as Assistant Treasurer of each of the above Guarantors which is a corporation, and in his capacity as Assistant Treasurer of each general partner or
managing member, as applicable, of each of the above Guarantors which is a partnership or limited liability company

 Signature Page to First Amendment 

					
	STANDARD PACIFIC OF COLORADO, INC., a Delaware corporation
		
	 By:
	 	 /s/    TIMOTHY C.
LITTLE

		 	 Name:
	 	 Timothy C. Little

		 	 Title:
	 	 President

 Signature Page to First Amendment

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00103-of-00352.parquet"}]]