Exhibit 25.1
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE
 
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2) ____
 
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
     
    13-4994650
     
(State of incorporation
if not a national bank)
  (I.R.S. employer
identification No.)
     
1111 Polaris Parkway
Columbus, Ohio
  43271
     
(Address of principal executive offices)   (Zip Code)
Robert M. Macallister
Vice President and Assistant General Counsel
JPMorgan Chase Bank, National Association
1 Chase Manhattan Plaza, 25th Floor
New York, NY 10081
Tel: (212) 552-2192
(Name, address and telephone number of agent for service)
LENNAR CORPORATION
(Exact name of obligor as specified in its charter)
     
Delaware   95-4337490
     
(State or other jurisdiction of
incorporation or organization)
  (I.R.S. employer
Identification No.)
     
700 Northwest 107th Avenue
Miami, Florida
  33172
     
(Address of principal executive offices)   (Zip Code)
 
Debt Securities
 
 

 


 

GENERAL
Item 1. General Information.
     Furnish the following information as to the trustee:
  (a)   Name and address of each examining or supervising authority to which it is subject.
 
      Comptroller of the Currency, Washington, D.C.
 
      Board of Governors of the Federal Reserve System, Washington, D.C., 20551
 
      Federal Deposit Insurance Corporation, Washington, D.C., 20429.
 
  (b)   Whether it is authorized to exercise corporate trust powers.
 
      Yes.
Item 2. Affiliations with the Obligor and Guarantors.
      If the obligor or any guarantor is an affiliate of the trustee, describe each such affiliation.
 
      None.

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Item 16. List of Exhibits
     List below all exhibits filed as a part of this Statement of Eligibility.
     1. A copy of the Articles of Association of JPMorgan Chase Bank, N.A. (see Exhibit 1 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference).
     2. A copy of the Certificate of Authority of the Comptroller of the Currency for the trustee to commence business. (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference).
     3. None, the authority of the trustee to exercise corporate trust powers being contained in the documents described in Exhibits 1 and 2.
     4. A copy of the existing By-Laws of the Trustee. (see Exhibit 4 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference).
     5. Not applicable.
     6. The consent of the Trustee required by Section 321(b) of the Act.
     (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference).
7. A copy of the latest report of condition of the Trustee, published
     pursuant to law or the requirements of its supervising or examining authority. (see Exhibit 7 to Form T-1 filed in connection with Registration Statement No. 333-106575 which is incorporated by reference).
     8. Not applicable.
     9. Not applicable.
SIGNATURE
     Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, JPMorgan Chase Bank, N.A., has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 6th day of January, 2006.
         
  JPMORGAN CHASE BANK, N.A.
 
 
  By /s/ Francine Springer    
  Francine Springer   
     

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J. P. Morgan Trust Company, National Association
Statement of Condition

30-Sep-05
         
    ($000)  
Assets
       
Cash and Due From Banks
    44,924  
Securities
    214,539  
Loans and Leases
    115,633  
Premises and Fixed Assets
    7,396  
Intangible Assets
    356,469  
Goodwill
    202,094  
 
     
Other Assets
    43,434  
 
     
Total Assets
    984,489  
 
     
 
       
Liabilities
       
Deposits
    119,305  
Other Liabilities
    47,817  
 
     
Total Liabilities
    167,122  
 
       
Equity Capital
       
Common Stock
    600  
Surplus
    701,587  
Retained Earnings
    72,537  
 
     
Total Equity Capital
    817,367  
 
     
 
       
Total Liabilities and Equity Capital
    984,489  
 
     

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