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<SEC-DOCUMENT>0000950123-10-030067.txt : 20100330
<SEC-HEADER>0000950123-10-030067.hdr.sgml : 20100330
<ACCEPTANCE-DATETIME>20100330164337
ACCESSION NUMBER:		0000950123-10-030067
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100324
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20100330
DATE AS OF CHANGE:		20100330

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KB HOME
		CENTRAL INDEX KEY:			0000795266
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				953666267
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09195
		FILM NUMBER:		10714420

	BUSINESS ADDRESS:	
		STREET 1:		10990 WILSHIRE BLVD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024
		BUSINESS PHONE:		3102314000

	MAIL ADDRESS:	
		STREET 1:		10990 WILSHIRE BLVD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KAUFMAN & BROAD HOME CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c98535e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): March 24, 2010</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>KB HOME<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-9195</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>95-3666267</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>10990 Wilshire Boulevard, Los Angeles, California <BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>90024</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(310) 231-4000</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>Not Applicable<BR></B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.02. Termination of Material Definitive Agreement.</B>


<P align="left" style="font-size: 10pt">On March&nbsp;24, 2010, pursuant to the terms of the Revolving Loan Agreement dated as of November&nbsp;22, 2005 among KB Home
(the &#147;Company&#148;), the banks party thereto and Bank of America, N.A., as Administrative Agent, as amended (the &#147;Revolving
Loan Agreement&#148;), the Company notified the Administrative Agent of the Company&#146;s decision to exercise its right to
terminate permanently the entire commitment under the Revolving Loan Agreement, and, as a result, to terminate the
terms of the Revolving Loan Agreement, effective, in each case, five (5)&nbsp;business days following delivery of the
notice, or March&nbsp;31, 2010. On the date the Company provided the notice, the commitment under the Revolving Loan
Agreement was $200&nbsp;million, with no borrowings outstanding. In addition, there was approximately $106&nbsp;million in
outstanding letters of credit under the Revolving Loan Agreement. Upon the termination of the Revolving Loan
Agreement, the then-outstanding letters of credit under the Revolving Loan Agreement will be transferred to a
cash-collateralized letter of credit facility that the Company has established with Bank of America, N.A. The Company
is terminating the Revolving Loan Agreement and entering into the cash-collateralized letter of credit facility as a
cost savings measure. The Company may enter into similar letter of credit facilities with other financial
institutions.
<BR>
&nbsp;
<BR>
<B>Item&nbsp;8.01. Other Events.</B>


<P align="left" style="font-size: 10pt">With the termination of the Revolving Loan Agreement described in Item&nbsp;1.02 of this Form 8-K, the Company&#146;s
wholly-owned subsidiaries KB&nbsp;HOME Sacramento Inc., KB HOME South Bay Inc., KB&nbsp;HOME Phoenix Inc., KB HOME Nevada Inc.,
KB HOME Colorado Inc. and KB HOME Lone Star Inc. will be automatically and unconditionally released and discharged from
the guaranty of the Company&#146;s outstanding senior notes pursuant to the terms of the indenture for the notes.


<P align="center" style="font-size: 10pt">





<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
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<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report
<BR>
to be signed on its behalf by the undersigned hereunto duly authorized.



<P align="left" style="margin-left:1%; font-size: 10pt">Date: March&nbsp;30, 2010



<P align="left" style="margin-left:46%; font-size: 10pt">KB Home



<P align="left" style="margin-left:46%; font-size: 10pt">By:  <U>/s/ William R. Hollinger&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U><BR>
William R. Hollinger<BR>
Senior Vice President and Chief Accounting Officer<BR>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">3




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