<SEC-DOCUMENT>0001193125-15-046155.txt : 20150212
<SEC-HEADER>0001193125-15-046155.hdr.sgml : 20150212
<ACCEPTANCE-DATETIME>20150212122910
ACCESSION NUMBER:		0001193125-15-046155
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20150211
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150212
DATE AS OF CHANGE:		20150212

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:		15604405

	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>d854918d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February&nbsp;11, 2015 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>KB HOME </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of
registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-9195</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>95-3666267</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>10990 Wilshire Boulevard, Los Angeles, California</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>90024</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (310)&nbsp;231-4000 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report.) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February 11, 2015, KB Home (the &#147;Company&#148;) announced preliminary
quarter-to-date net order, net order value and community count information for its first fiscal quarter of 2015. The information in Exhibit&nbsp;99.1 is being furnished pursuant to Item&nbsp;7.01 of
<FONT STYLE="white-space:nowrap">Form&nbsp;8-K.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information in this Item&nbsp;7.01, including Exhibit&nbsp;99.1 attached hereto, shall not be
deemed to be &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities and Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference
into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;11, 2015, the Company announced a public offering of $250 million in
aggregate principal amount of senior notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On February&nbsp;11, 2015, the Company announced that it priced its offering of $250 million in aggregate
principal amount of 7.625% senior notes due 2023. The offering is expected to close on February&nbsp;17, 2015, subject to customary closing conditions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A
copy of the press release dated February&nbsp;11, 2015 announcing the senior notes offering is attached as Exhibit 99.2, and a copy of the press release dated February&nbsp;11, 2015 announcing the pricing of the senior notes offering is attached as
Exhibit 99.3. In connection with the pricing of the senior notes offering, a copy of the Underwriting Agreement dated February&nbsp;11, 2015 is attached as Exhibit&nbsp;1.1. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>(d) Exhibits </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="2" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">1.1</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated February 11, 2015, relating to the Company&#146;s 7.625% senior notes due 2023.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.1</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February&nbsp;11, 2015 announcing preliminary quarter-to-date net order, net order value and community count information for the first fiscal quarter of 2015.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.2</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February 11, 2015 announcing the offering of senior notes.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.3</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February&nbsp;11, 2015 announcing the pricing of the offering of 7.625 % senior notes due 2023.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;12, 2015 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="94%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">KB Home</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">/s/ JEFF J. KAMINSKI</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Jeff J. Kaminski</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP>Executive&nbsp;Vice&nbsp;President&nbsp;and&nbsp;Chief&nbsp;Financial&nbsp;Officer</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="2" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:25.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">1.1</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Underwriting Agreement, dated February&nbsp;11, 2015, relating to the Company&#146;s 7.625% senior notes due 2023.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.1</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February&nbsp;11, 2015 announcing preliminary quarter-to-date net order, net order value and community count information for the first fiscal quarter of 2015.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.2</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February&nbsp;11, 2015 announcing the offering of senior notes.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD NOWRAP VALIGN="top">&nbsp;</TD>
<TD NOWRAP VALIGN="top" ALIGN="right">99.3</TD>
<TD NOWRAP VALIGN="top">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release dated February&nbsp;11, 2015 announcing the pricing of the offering of 7.625% senior notes due 2023.</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>d854918dex11.htm
<DESCRIPTION>EX-1.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-1.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 1.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>KB HOME </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(a Delaware
corporation) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>$250,000,000 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>7.625% Senior Notes due 2023 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><U>UNDERWRITING AGREEMENT</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">February 11, 2015 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Credit Suisse Securities (USA)
LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Citigroup Global Markets Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank Securities Inc. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>As Representatives of the several Underwriters </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>named in Schedule B hereto </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Credit
Suisse Securities (USA) LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eleven Madison Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York,
New York 10010 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&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;
Incorporated </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">One Bryant Park </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10036 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Citigroup Global Markets Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">388 Greenwich Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10013 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Deutsche Bank Securities Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">60 Wall Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10005 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">KB Home, a Delaware
corporation (the &#147;<U>Company</U>&#148;), and the Company&#146;s subsidiaries listed on Schedule&nbsp;A hereto (the &#147;<U>Guarantors</U>&#148;) confirm their agreement with Credit Suisse Securities (USA) LLC (&#147;<U>Credit
Suisse</U>&#148;), Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(&#147;<U>Merrill Lynch</U>&#148;), Citigroup Global Markets Inc. (&#147;<U>Citigroup</U>&#148;), Deutsche Bank Securities Inc. (&#147;<U>Deutsche Bank</U>&#148;) and each of the other
underwriters, if any, named in Schedule&nbsp;B hereto (collectively, the &#147;<U>Underwriters</U>,&#148; which term shall also include any underwriters substituted as hereinafter provided in Section&nbsp;10 hereof), for whom Credit Suisse, Merrill
Lynch, Citigroup and Deutsche Bank are acting as representatives (in such capacity, the &#147;<U>Representatives</U>&#148;), with respect to the sale by the Company and the purchase by the Underwriters, acting severally and not jointly, of
$250.0&nbsp;million aggregate principal amount of the Company&#146;s 7.625% Senior Notes due 2023 (the &#147;<U>Securities</U>&#148;). The Securities are to be issued under the Indenture (as defined below). The Securities will be unconditionally
guaranteed on a senior basis by each of the Guarantors (the &#147;<U>Guarantees</U>&#148;) pursuant to the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Securities are
to be issued pursuant to an Indenture (the &#147;<U>Original Indenture</U>&#148;) dated as of January&nbsp;28, 2004, as amended and supplemented by the First Supplemental Indenture (the &#147;<U>First Supplemental Indenture</U>&#148;) thereto dated
as of January&nbsp;28, 2004, as further amended and supplemented by the Second Supplemental Indenture (the &#147;<U>Second Supplemental Indenture</U>&#148;) thereto dated as of June&nbsp;30, 2004, the Third Supplemental Indenture (the &#147;<U>Third
Supplemental Indenture</U>&#148;) thereto dated as of May&nbsp;1, 2006, the Fourth Supplemental Indenture (the &#147;<U>Fourth Supplemental Indenture</U>&#148;) thereto dated as of November&nbsp;9, 2006, the Fifth Supplemental Indenture (the
&#147;<U>Fifth Supplemental Indenture</U>&#148;) thereto dated as of August&nbsp;17, 2007, the Sixth Supplemental Indenture (the &#147;<U>Sixth Supplemental Indenture</U>&#148;) thereto dated as of January&nbsp;30, 2012, the Seventh Supplemental
Indenture (the &#147;<U>Seventh Supplemental Indenture</U>&#148;) thereto dated as of January&nbsp;11, 2013, the Eighth Supplemental Indenture (the &#147;<U>Eighth Supplemental Indenture</U>&#148;) thereto dated as of March&nbsp;12, 2013 and the
Ninth Supplemental Indenture (the&nbsp;&#147;<U>Ninth Supplemental Indenture</U>&#148;) thereto dated as of February&nbsp;28, 2014 (the Original Indenture, as so amended and supplemented, the &#147;<U>Indenture</U>&#148;), each among the Company,
the guarantors party thereto and U.S. Bank National Association, as successor to SunTrust Bank, as trustee (the &#147;<U>Trustee</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has filed with the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) a registration statement on <FONT
STYLE="white-space:nowrap">Form&nbsp;S-3ASR</FONT> <FONT STYLE="white-space:nowrap">(No.&nbsp;333-197517)</FONT> for the registration under the Securities Act of 1933 (the &#147;<U>1933 Act</U>&#148;) of, among other securities, the Securities and
the Guarantees, which registration statement automatically became effective upon filing on July&nbsp;18, 2014, which was post-effectively amended on February&nbsp;11, 2015 (the &#147;<U>Current Registration Statement</U>&#148;), and copies of which
have heretofore been delivered to the Representatives. The Indenture has been qualified under the Trust Indenture Act of 1939, as amended (the &#147;<U>1939&nbsp;Act</U>&#148;). The Company proposes to file with the Commission, pursuant to
Rule&nbsp;430B (&#147;<U>Rule 430B</U>&#148;) of the rules and regulations of the Commission under the 1933&nbsp;Act (the &#147;<U>1933&nbsp;Act Regulations</U>&#148;) and paragraph (b)&nbsp;of Rule&nbsp;424 (&#147;<U>Rule&nbsp;424(b)</U>&#148;) of
the 1933 Act Regulations, the Prospectus Supplement (as defined in Section&nbsp;3(i) hereof) and the related prospectus dated July&nbsp;18, 2014 (the &#147;<U>Base Prospectus</U>&#148;) relating to the Securities and the Guarantees, and has
previously advised the Representatives of all further information (financial and other) with respect to the Company and the Guarantors set forth therein. Any information included in the Prospectus Supplement or the Base Prospectus that was omitted
from the Current Registration Statement at the time it became effective but that is deemed to be part of and included in the Current Registration Statement pursuant to paragraph&nbsp;(f) of Rule&nbsp;430B is referred to as the
&#147;<U>Rule&nbsp;430B Information</U>.&#148; Each prospectus, together with the related prospectus supplement, relating to the Securities that omitted the Rule&nbsp;430B Information or that was captioned &#147;Subject
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to Completion&#148; (or a similar caption) that was used after effectiveness of the Current Registration Statement, is herein called, together with the documents incorporated and deemed to be
incorporated by reference therein pursuant to Item&nbsp;12 of <FONT STYLE="white-space:nowrap">Form&nbsp;S-3</FONT> under the 1933 Act, a &#147;<U>Preliminary Prospectus</U>,&#148; and all references herein to any &#147;Preliminary Prospectus&#148;
shall be deemed to include the Statutory Prospectus (as hereinafter defined). The Current Registration Statement, at any given time, including the amendments thereto to such time, the exhibits and any schedules thereto at such time, the documents
incorporated and deemed to be incorporated by reference therein pursuant to Item&nbsp;12 of <FONT STYLE="white-space:nowrap">Form&nbsp;S-3</FONT> under the 1933 Act at such time, and the documents and information (including, without limitation, any
430B Information) otherwise deemed to be a part thereof or included therein by the 1933 Act Regulations at such time, is hereinafter called, the &#147;<U>Registration Statement</U>.&#148; The Base Prospectus and the Prospectus Supplement, including
the documents incorporated and deemed to be incorporated by reference therein pursuant to Item&nbsp;12 of <FONT STYLE="white-space:nowrap">Form&nbsp;S-3</FONT> under the 1933 Act, in the form first furnished (electronically or otherwise) to the
Underwriters for use in connection with the offering of the Securities (whether to meet the requests of purchasers pursuant to Rule&nbsp;173 under the 1933 Act Regulations or otherwise) or, if not furnished to the Underwriters, in the form first
filed by the Company pursuant to Rule&nbsp;424(b), are herein called collectively, the &#147;<U>Prospectus</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references in
this Agreement to documents, financial statements and schedules and other information that is &#147;contained,&#148; &#147;included,&#148; &#147;stated,&#148; &#147;described in&#148; or &#147;referred to&#148; in the Registration Statement, the
Prospectus, the Base Prospectus, the Statutory Prospectus or any Preliminary Prospectus (and all other references of like import) shall be deemed to mean and include all such documents, financial statements and schedules and other information which
is incorporated or deemed to be incorporated by reference in, or otherwise deemed by the 1933 Act Regulations (including, without limitation, Rule&nbsp;430B) to be a part of or included in, the Registration Statement, the Prospectus, the Base
Prospectus, the Statutory Prospectus or such Preliminary Prospectus, as the case may be; and all references in this Agreement to amendments or supplements to the Registration Statement, the Prospectus, the Base Prospectus, the Statutory Prospectus
or any Preliminary Prospectus shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934, as amended (the &#147;<U>1934&nbsp;Act</U>&#148;) that is incorporated or deemed to be incorporated by reference
in the Registration Statement, the Prospectus, the Base Prospectus, the Statutory Prospectus or such Preliminary Prospectus, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company and the Guarantors understand that the Underwriters propose to make a public offering (the &#147;<U>Offering</U>&#148;) of the
Securities and the Guarantees as soon as the Representatives deem advisable after this Agreement has been executed and delivered. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
Agreement, the Securities and the Indenture are hereinafter sometimes referred to, collectively, as the &#147;<U>Operative Documents</U>&#148; and, individually, as an &#147;<U>Operative Document</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All references herein to a &#147;subsidiary&#148; or &#147;subsidiaries&#148; of the Company shall include, without limitation (i)&nbsp;the
Guarantors and (ii)&nbsp;all other subsidiaries of the Company, including any consolidated joint ventures in which the Company or any of its other subsidiaries is a participant, any consolidated limited and general partnerships in which the Company
or any of its other subsidiaries owns partnership interests and any consolidated limited liability companies in which the Company or any of its other subsidiaries owns membership interests (such consolidated joint ventures, limited and general
partnerships and limited liability companies being hereinafter called, collectively, the &#147;<U>Partnerships</U>&#148; and, individually, a &#147;<U>Partnership</U>&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Representations and Warranties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Company and the Guarantors, jointly and severally, represent and warrant to each Underwriter as of the date hereof (such date being
hereinafter referred to as the &#147;<U>Representation Date</U>&#148;), as of the Applicable Time (as defined below) and as of the Closing Time (as defined below), and agree with each Underwriter, as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Company and the Guarantors meet the requirements for use of <FONT STYLE="white-space:nowrap">Form&nbsp;S-3</FONT> under
the 1933&nbsp;Act and the 1933&nbsp;Act Regulations. No stop order suspending the effectiveness of the Registration Statement has been issued under the 1933 Act and no proceedings for that purpose have been instituted or are pending or, to the
knowledge of the Company, are threatened by the Commission, and any request on the part of the Commission for additional information has been complied with. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At (w)&nbsp;the time of filing the Current Registration Statement, (x)&nbsp;the time of the most recent amendment thereto for
the purposes of complying with Section&nbsp;10(a)(3) of the 1933 Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Sections 13 or 15(d) of the 1934 Act or form of prospectus), (y)&nbsp;the time the
Company or any person acting on its behalf (within the meaning, for this clause only, of Rule 163(c) of the 1933 Act Regulations) made any offer relating to the Securities in reliance on the exemption in Rule 163, and (z)&nbsp;the Applicable Time
(with such date being used as the determination date for purposes of this clause (z)), the Company was or is (as the case may be) a &#147;well-known seasoned issuer&#148; as defined in Rule 405 of the 1933 Act Regulations (&#147;<U>Rule
405</U>&#148;). The Registration Statement, as of the Applicable Time (as defined below), meets the requirements set forth in Rule 415(a)(1)(x) of the 1933 Act Regulations. The Company agrees to pay the fees required by the Commission, if any,
relating to the Securities within the time required by Rule 456(b)(1) of the 1933 Act Regulations and otherwise in accordance with Rules 456(b) and 457(r) of the 1933 Act Regulations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the time that the Registration Statement was first filed, at the earliest time thereafter that the Company or another
offering participant made a <I>bona fide</I> offer (within the meaning of Rule&nbsp;164(h)(2) of the 1933 Act Regulations) of the Securities and at the Applicable Time, the Company was not and is not an &#147;ineligible issuer,&#148; as defined in
Rule&nbsp;405, without taking account of any determination by the Commission pursuant to Rule 405 that it is not necessary that the Company be considered such an &#147;ineligible issuer.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the respective times the Registration Statement and any post-effective amendments thereto first became or become effective,
at the time the Company&#146;s most recent Annual Report on Form&nbsp;10-K was filed with the Commission, at each &#147;new effective date&#148; with respect to the Underwriters pursuant to Rule&nbsp;430B(f)(2) of the 1933&nbsp;Act Regulations, at
the date hereof and at the Closing Time, the Registration Statement and any amendments and supplements thereto complied in all material respects </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
and will comply in all material respects with the applicable requirements of the 1933 Act, the 1933 Act Regulations, the 1939 Act and the rules and regulations of the Commission under the 1939
Act (the &#147;<U>1939 Act Regulations</U>&#148;), and did not, do not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading. The Base Prospectus, as of its date and as of the Representation Date, the Statutory Prospectus and any other Preliminary Prospectus, as of the date of the preliminary prospectus supplement constituting a part thereof, and the Prospectus
and any amendments or supplements thereto, as of the Representation Date and at the Closing Time, complied, comply and will comply, in each case, in all material respects with the requirements of the 1933 Act and the 1933 Act Regulations and did
not, do not and will not contain any untrue statement of material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Preliminary Prospectus, each Issuer Free Writing Prospectus, if any, and the Prospectus delivered to the Underwriters for
use in connection with this offering was or will be identical to the electronically transmitted copy thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T of the Commission. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of the Applicable Time, neither (x)&nbsp;all Issuer General Use Free Writing Prospectuses (as defined below) issued at or
prior to the Applicable Time, the Statutory Prospectus and the information set forth on Schedule C hereto, all considered together (collectively, the &#147;<U>General Disclosure Package</U>&#148;), nor (y)&nbsp;any individual Issuer Limited Use Free
Writing Prospectus, including any &#147;road show that is a written communication&#148; within the meaning of Rule 433(d)(8)(i), whether or not required to be filed with the Commission, when considered together with the General Disclosure Package,
included or will include any untrue statement of a material fact or omitted or will omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">As used in this subsection and elsewhere in this Agreement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Time</U>&#148; shall mean 3:33 p.m. (New York City time) on the date of this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Free Writing Prospectus</U>&#148; means any &#147;issuer free writing prospectus,&#148; as defined in
Rule&nbsp;433 of the 1933 Act Regulations (&#147;<U>Rule&nbsp;433</U>&#148;), relating to the Securities that (i)&nbsp;is required to be filed with the Commission by the Company, (ii)&nbsp;is a &#147;road show that is a written communication&#148;
within the meaning of Rule&nbsp;433(d)(8)(i), whether or not required to be filed with the Commission, or (iii)&nbsp;is exempt from filing pursuant to Rule&nbsp;433(d)(5)(i) because it contains a description of the Securities or of the offering that
does not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company&#146;s records pursuant to Rule&nbsp;433(g). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer General Use Free Writing Prospectus</U>&#148; means any Issuer
Free Writing Prospectus that is intended for general distribution to prospective investors, as evidenced by its being specified in Schedule&nbsp;D hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuer Limited Use Free Writing Prospectus</U>&#148; means any Issuer Free Writing Prospectus that is not an Issuer
General Use Free Writing Prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Statutory Prospectus</U>&#148; means, collectively, the Base Prospectus and
the preliminary prospectus supplement dated February&nbsp;11, 2015 relating to the offering of the Securities and the Guarantees, including the documents incorporated and deemed to be incorporated by reference therein pursuant to Item&nbsp;12 of <FONT
STYLE="white-space:nowrap">Form&nbsp;S-3</FONT> under the 1933 Act, in the form first furnished (electronically or otherwise) to the Underwriters for use in connection with the offering of the Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the public
offer and sale of the Securities or until any earlier date that the Company notified or notifies the Representatives as described in Section&nbsp;3(e), did not, does not and will not include any information that conflicted, conflicts or will
conflict with the information contained in the Registration Statement or the Prospectus, including any document incorporated or deemed to be incorporated by reference therein that has not been superseded or modified. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The representations and warranties in this subsection 1(a)(i) shall not apply to statements in or omissions from the
Registration Statement, the Prospectus, any Preliminary Prospectus or any Issuer Free Writing Prospectus made in reliance upon and in conformity with information furnished to the Company in writing by any Underwriter through the Representatives
expressly for use therein or the information contained in any Statement of Eligibility of a trustee under the 1939 Act filed or incorporated by reference as an exhibit to the Registration Statement (a &#147;<U>Form T-1</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Ernst&nbsp;&amp; Young&nbsp;LLP, whose reports are incorporated by reference into the Registration Statement, the
Statutory Prospectus and the Prospectus, is an independent registered public accounting firm with respect to the Company and its subsidiaries as required by the 1933&nbsp;Act and the 1933 Act Regulations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The financial statements included or incorporated by reference in the Registration Statement, the General Disclosure
Package, and the Prospectus present fairly the financial position of the Company and its consolidated subsidiaries as at the dates indicated and the results of operations of the Company and its consolidated subsidiaries for the periods specified;
except as otherwise stated in the Registration Statement, the General Disclosure Package and the Prospectus, said financial statements have been prepared in conformity with generally accepted accounting principles in the United States applied on a
consistent basis; the supporting schedules included or incorporated by reference in the Registration Statement, the Statutory Prospectus, the General Disclosure Package and the Prospectus present fairly the information required to be stated therein;
the Company&#146;s ratios of earnings to fixed charges and, if applicable, of earnings to combined fixed charges and preferred stock dividends included in the Base Prospectus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
under the caption &#147;Ratios of Earnings to Fixed Charges&#148; and in the Prospectus Supplement under the caption &#147;Selected Consolidated Financial Data&#148; and in Exhibit&nbsp;12.1 to
the Registration Statement have been calculated in compliance with Item&nbsp;503(d) of <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-K</FONT> of the Commission; and the pro forma financial statements, if any, and related notes thereto included
in the Registration Statement, the General Disclosure Package and the Prospectus present fairly the information shown therein, have been prepared in accordance with the Commission&#146;s rules and guidelines with respect to pro forma financial
statements and have been properly compiled on the bases described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances
referred to therein. The preliminary quarter-to-date net order, net order value and community count information for the period beginning December&nbsp;1, 2014 and ending February 6, 2015, along with the corresponding intraquarter net order, net
order value and community count information for the period beginning December&nbsp;1, 2013 and ended February&nbsp;7, 2014, included in the General Disclosure Package and the Prospectus under the caption &#147;Prospectus Supplement
Summary&#151;Recent Developments&#148; (the &#147;<U>Intraquarter Disclosure</U>&#148;) was derived from the accounting records of the Company. The Company has not made any material change since February&nbsp;6, 2015 in the controls and procedures
that it employs in preparing its quarterly earnings release, and the Company complied in all material respects with such controls and procedures as are relevant in preparing the Intraquarter Disclosure. As of the date hereof, nothing has come to the
Company&#146;s attention that causes it to believe that the Intraquarter Disclosure will be inconsistent in any material respect with the corresponding financial information as of and for the three months ending February&nbsp;28, 2015 to be included
in the Company&#146;s quarterly report on Form&nbsp;10-Q for the quarterly period ending February&nbsp;28, 2015. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv)
Since the respective dates as of which information is given in the Registration Statement, the General Disclosure Package, and the Prospectus, except as otherwise stated therein, (A)&nbsp;there has been no material adverse change in the condition,
financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, (B)&nbsp;there have been no transactions
entered into by the Company or any of its subsidiaries, other than those in the ordinary course of business, which are material with respect to the Company and its subsidiaries considered as one enterprise, and (C)&nbsp;except for regular quarterly
dividends in customary amounts per share on the Company&#146;s common stock, par value $1.00 per share (the &#147;<U>Common Stock</U>&#148;), there has been no dividend or distribution of any kind declared, paid or made by the Company on any class
of its capital stock. As used in this subsection&nbsp;(iv), the term &#147;Registration Statement&#148; means the Registration Statement excluding any amendments or supplements thereto after the date of this Agreement; the term &#147;General
Disclosure Package&#148; means the General Disclosure Package excluding any amendments or supplements thereto after the Applicable Time; and the term &#147;Prospectus&#148; means the Prospectus excluding any amendments or supplements thereto after
the date of this Agreement. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) The Company has been duly incorporated and is validly existing as a corporation in good
standing under the laws of the State of Delaware and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the General Disclosure Package and the Prospectus and to enter into and
perform its obligations under the Operative Documents and the Guarantees; and the Company is duly qualified as a foreign corporation to transact business and is in good standing in the State of California and in each other jurisdiction, if any, in
which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except jurisdictions (other than the State of California) where the failure to so qualify or be in good standing would not
have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise; and without limitation to the foregoing provisions of
this subparagraph, the only jurisdiction in which the Company is qualified as a foreign corporation is the State of California. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Each Guarantor is either a corporation or a limited liability company. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Each Guarantor has been duly organized and is validly existing as a corporation or limited liability company, as the case may be, in good standing under the laws of the jurisdiction of its
organization, has power and authority to own, lease and operate its properties and to conduct its business as described in the General Disclosure Package and the Prospectus and to enter into and perform its obligations under the Operative Documents
to which it is a party, and is duly qualified to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except
where the failure to so qualify would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise; without
limitation to the foregoing provisions of this subparagraph, none of the Guarantors is qualified as a foreign corporation or limited liability company in any jurisdiction, other than KB HOME Tampa LLC, KB HOME Fort Myers LLC, KB HOME Treasure Coast
LLC, and KB HOME Florida LLC, each a Delaware limited liability company qualified as a foreign limited liability company in the State of Florida, KB HOME Jacksonville LLC, a Delaware limited liability company qualified as a foreign limited liability
company in the States of Florida and Georgia; all of the issued and outstanding capital stock of each Guarantor which is a corporation has been duly authorized and validly issued, is fully paid and non-assessable and is owned (except for directors
qualifying shares and a nominal number of shares held by affiliated parties) by the Company, directly or through subsidiaries, free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity; and all of the outstanding
equity interests in each Guarantor which is a limited liability company have been duly authorized (if applicable) and validly issued, are fully paid and non-assessable and are owned by the Company, directly or through subsidiaries, free and clear of
any security interest, mortgage, pledge, lien, encumbrance, claim or equity. Except for the Guarantors, no subsidiary of the Company (including, without limitation, any Partnership) is a &#147;significant subsidiary&#148; as defined in Rule 1-02 of
Regulation S-X (as in effect on January&nbsp;1, 1996 and as of the date hereof). Schedule A hereto sets forth the names of each of the Guarantors, its jurisdiction of organization and whether such Guarantor is a corporation, limited liability
company or other entity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(vii) (A) As of November&nbsp;30, 2014, 10,000,000 shares of Preferred Stock, par value $1.00 per share (the
&#147;Preferred Stock&#148;), of the Company were authorized, of which none were issued and outstanding, 25,000,000 shares of Special Common Stock, par value $1.00 per share (the &#147;<U>Special Common Stock</U>&#148;), of the Company were
authorized, of which none were issued and outstanding, 290,000,000 shares of Common Stock, par value $1.00 per share (the &#147;<U>Common Stock</U>&#148;), of the Company were authorized, of which 91,953,911 shares were issued and outstanding and
13,097,140 shares were treasury shares (including 12,602,735 shares reserved in respect of the Company&#146;s 1.375% Convertible Senior Notes due 2019), and there have been no changes to the authorized, issued or outstanding capital stock of the
Company since that date, except for (1)&nbsp;the subsequent issuance, if any, pursuant to reservations, agreements or employee benefit plans referred to or incorporated by reference in the General Disclosure Package and the Prospectus, and
(2)&nbsp;repurchases of Common Stock pursuant to stock repurchase programs that are described in the General Disclosure Package </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
and the Prospectus; the shares of issued and outstanding Common Stock have been duly authorized and validly issued and are fully paid and non-assessable; the Common Stock, the Company&#146;s
authorized but unissued Special Common Stock, and the Company&#146;s authorized but unissued Preferred Stock, conform to the respective statements relating thereto included in the General Disclosure Package and the Prospectus; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Securities have been duly authorized for issuance and sale to the Underwriters pursuant to this Agreement and, when
issued by the Company, authenticated by the Trustee and delivered pursuant to the provisions of the Indenture and this Agreement against payment of the consideration set forth herein, the Securities will have been duly executed and delivered by the
Company and will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other
similar laws relating to or affecting creditors&#146; rights generally or by general equitable principles, and will be entitled to the benefits of the Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) The Original Indenture, 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 and the Ninth Supplemental Indenture have been duly authorized,
executed and delivered by the Company and each of the Guarantors party thereto and constitute valid and binding agreements of the Company and each of the Guarantors, enforceable against the Company and each of the Guarantors in accordance with its
terms, except in each case as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors&#146; rights generally or by general equitable principles, except in each
case against any Company subsidiary that has been released as a Guarantor under the Indenture, and the Indenture has been duly qualified under the 1939 Act; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the Operative Documents and the Guarantees conform and will conform in all material respects to the respective descriptions
thereof contained in the General Disclosure Package and the Prospectus. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Neither the Company nor any Guarantor is in
violation of any statute, law, rule, regulation, judgment, order or decree applicable to such party of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over such party or any of
its properties (except where such violations would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one
enterprise). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) The Company is not in violation of its charter or by-laws and none of the Guarantors is in violation of
its charter or by-laws or other organizational documents, and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
neither the Company nor any of the Guarantors is in default in the performance or observance of (A)&nbsp;any obligation, agreement, covenant or condition contained in any outstanding debt
securities previously issued under the Indenture (the &#147;<U>Senior Notes</U>&#148;), the Indenture, or the guarantees of the Senior Notes (the &#147;<U>Senior Guarantees</U>&#148;) (the Senior Notes, the Indenture and the Senior Guarantees are
hereinafter called, collectively, the &#147;<U>Subject Instruments</U>&#148; and, individually, a &#147;<U>Subject Instrument</U>&#148;) or (B)&nbsp;any other obligation, agreement, covenant or condition contained in any other contract, indenture,
mortgage, loan agreement, note, lease or other instrument to which the Company or any of the Guarantors is a party or by which it or any of them may be bound, or to which any of the property or assets of the Company or any of the Guarantors is
subject, which default or violation would have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise; and the
execution, delivery and performance of this Agreement and the other Operative Documents and the Guarantees, the consummation of the transactions contemplated herein and in the other Operative Documents and the Guarantees and compliance by the
Company and the Guarantors with their respective obligations under such agreements to which they are parties have been duly authorized by all necessary action, corporate or other, and will not conflict with or constitute a breach of, or default
under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of the Guarantors pursuant to, any contract, indenture, mortgage, loan agreement, note, lease or other instrument to
which the Company or any of the Guarantors is a party or by which it or any of them may be bound (including, without limitation, the Subject Instruments), or to which any of the property or assets of the Company or any of the Guarantors is subject,
except (other than in the case of the Subject Instruments) for a conflict, breach, default, lien, charge or encumbrance which would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or
business prospects of the Company and its subsidiaries considered as one enterprise, nor will such action result in any violation of the provisions of the charter, by-laws or other organizational documents of the Company or any of the Guarantors or
any applicable law, administrative regulation or administrative or court order or decree. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) There is no action, suit or
proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened, against or affecting the Company or any of its subsidiaries, which is required to be disclosed in
the Registration Statement, the Statutory Prospectus or the Prospectus (other than as disclosed therein), or which is not so disclosed and (net of reserves and insurance) which the Company believes might result in any material adverse change in the
condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, or which might materially and adversely affect the properties or assets thereof or which
might materially and adversely affect the consummation of this Agreement or the other Operative Documents; all pending legal or governmental proceedings to which the Company or any subsidiary is a party or of which any of their respective property
or assets is the subject that are not described in or incorporated by reference in the Registration Statement, the Statutory Prospectus, the General Disclosure Package and the Prospectus, including ordinary routine litigation incidental to the
business, are, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
considered in the aggregate and net of reserves and insurance, not material to the Company and its subsidiaries considered as one enterprise; and there are no contracts or documents of the
Company or any of its subsidiaries that are required to be filed as exhibits to the documents incorporated or deemed to be incorporated by reference in the Registration Statement, the Statutory Prospectus or the Prospectus by the 1933 Act or by the
1933 Act Regulations that have not been so filed or incorporated by reference. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) No authorization, approval or consent
of any court or governmental authority or agency is necessary in connection with the issuance and sale of the Securities or the Guarantees, the consummation by the Company or any Guarantor of any of the other transactions contemplated hereby or by
any of the other Operative Documents, except such as may be required and have been obtained under the 1933 Act, the 1933 Act Regulations, the 1934 Act, the 1934 Act Regulations (as defined below) and the 1939 Act, and such as may be required under
state securities laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) This Agreement has been duly authorized, executed and delivered by the Company and each of
the Guarantors. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) The documents incorporated or deemed to be incorporated by reference in the Registration Statement,
the Statutory Prospectus and the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the 1934&nbsp;Act and the rules and regulations of the
Commission under the 1934 Act (the &#147;<U>1934&nbsp;Act Regulations</U>&#148;), and (a)&nbsp;when read together with the other information in the Registration Statement, at the time the Registration Statement and any amendments thereto first
became effective, at the time the Company&#146;s most recent Annual Report on Form&nbsp;10&#150;K was filed with the Commission and&nbsp;at each &#147;new effective date&#148; with respect to the Underwriters pursuant to Rule&nbsp;430B(f)(2) of the
1933 Act Regulations, (b)&nbsp;when read together with the other information in the General Disclosure Package, at the Applicable Time and (c)&nbsp;when read together with the other information in the Prospectus, at the Representation Date and at
the Closing Time, did not, do not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) The Securities rank and will rank pari passu in right of payment with the Senior
Notes. The Guarantees rank and will rank pari passu in right of payment with the Senior Guarantees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) There are no
holders of securities of the Company with currently exercisable registration rights to have any securities registered as part of the Registration Statement or included in the offering contemplated by this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) The Company and each of the Guarantors have good and marketable title to all of their respective properties, in each case
free and clear of all liens, encumbrances and defects, except (i)&nbsp;customary liens and encumbrances arising in the ordinary course of the Company&#146;s construction and development business and the financing thereof,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
(ii)&nbsp;as stated or incorporated by reference in the Statutory Prospectus, the General Disclosure Package and the Prospectus or (iii)&nbsp;such as do not materially affect the value of such
properties in the aggregate to the Company and its subsidiaries considered as one enterprise and do not materially interfere with the use made and proposed to be made of such properties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) The Company and the Guarantors possess such certificates, authorities and permits issued by the appropriate state,
federal and foreign regulatory agencies or bodies necessary to conduct all material aspects of the business now operated by them, and neither the Company nor any of the Guarantors has received any notice of proceedings relating to the revocation or
modification of any such certificate, authority or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would materially and adversely affect the condition, financial or otherwise, or the earnings,
business affairs or business prospects of the Company and its subsidiaries considered as one enterprise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) No
default or event of default with respect to any Indebtedness (as such term is defined in the Base Prospectus under the caption &#147;Description of Debt Securities&#151;Certain Definitions&#148;) of the Company or any of the Guarantors entitling, or
which, with notice or lapse of time or both, would entitle, the holders thereof to accelerate the maturity thereof exists or will exist as a result of the execution and delivery of this Agreement, any of the other Operative Documents, the issuance
and sale of the Securities or the Guarantees or the consummation of the transactions contemplated hereby or thereby. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix)
The Company and each of the Guarantors have filed all tax returns required to be filed, which returns, as amended, are complete and correct in all material respects, and neither the Company nor any Guarantor is in default in the payment of any taxes
which were payable pursuant to said returns or any assessments with respect to said returns which would materially and adversely affect the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and
its subsidiaries considered as one enterprise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) The Company and each of the Guarantors maintain a system of internal
accounting controls sufficient to provide reasonable assurances that (A)&nbsp;transactions are executed in accordance with management&#146;s general or specific authorization; (B)&nbsp;transactions are recorded as necessary to permit preparation of
financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (C)&nbsp;access to assets is permitted only in accordance with management&#146;s general or specific authorization;
(D)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences and (E)&nbsp;the interactive data in the eXtensible Business Reporting
Language (&#147;<U>XBRL</U>&#148;) included as an exhibit to the Registration Statement is accurate in all material respects. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) The Company and its subsidiaries maintain &#147;disclosure controls and procedures&#148; (as such term is defined in Rule
13a-15(e) under the Exchange Act); based </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
on the most recent evaluation, the Company&#146;s principal executive officer and principal financial officer concluded that the Company&#146;s disclosure controls and procedures were effective
as of November&nbsp;30, 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) The Company and the Guarantors have not taken, directly or indirectly, any action
designed to or that would constitute or that might reasonably be expected to cause or result in, under the 1934 Act, the 1934 Act Regulations or otherwise, stabilization or manipulation of the price of any security of the Company or the Guarantors
to facilitate the sale or resale of the Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) None of the Operative Documents or the Guarantees is or will
be, and no payment by the Company or any of the Guarantors of any amounts payable under or pursuant to any of the Operative Documents or the Guarantees (including, without limitation, any principal, premium, if any, or interest) is or will be,
subject to any usury law or other limitation on the rate or amount of interest or other amounts payable thereunder or the yield thereon (collectively, &#147;<U>Usury Laws</U>&#148;), or violates, contravenes or breaches, or will violate, contravene
or breach, any Usury Laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiv) Neither the Company nor any of the Guarantors is, and upon issuance and sale of the
Securities and the Guarantees as contemplated by this Agreement, and application of the net proceeds therefrom as described in the Statutory Prospectus, the General Disclosure Package and the Prospectus, neither the Company nor any of the Guarantors
will be, an &#147;investment company&#148; or an entity &#147;controlled&#148; by an &#147;investment company&#148; as such terms are defined in the Investment Company Act of 1940, as amended (the &#147;<U>1940 Act</U>&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) No subsidiary of the Company is a guarantor of, or is a party to or bound by any instrument or agreement pursuant to
which it is or may be required to guarantee or cause another subsidiary of the Company to guarantee, any borrowings, bonds, notes, debentures or other indebtedness or lease obligations of the Company, except for the Indenture and the terms of the
Senior Notes issued thereunder, that certain Amended and Restated Deed of Trust and Security Agreement dated as of November&nbsp;9, 2011 by KB HOME Nevada Inc. to the Company, the related Amended and Restated Promissory Note of even date therewith
made by KB HOME Nevada Inc. in favor of the Company, and that certain Revolving Loan Agreement dated as of March&nbsp;12, 2013 between the Company, the banks party thereto and Citibank, N.A. as administrative agent (as amended, the &#147;<U>Loan
Agreement</U>&#148;), and the related Subsidiary Guaranty dated as of March&nbsp;12, 2013 by the Guarantors in favor of Citibank, N.A. as administrative agent under the Loan Agreement and the banks party to the Loan Agreement, as supplemented by the
joinder of additional guarantors, from time to time. The Company is not a party to or bound by any instrument or agreement pursuant to which it is or may be required to cause any of its subsidiaries to guarantee any borrowings, bonds, notes,
debentures or other indebtedness or lease obligations of the Company, other than the Indenture and the terms of the Senior Notes issued thereunder, the Officers&#146; Certificate and Guarantors&#146; Officers&#146; Certificate, dated as of or prior
to the Closing Time, establishing the terms of the Securities, and the Loan Agreement. The only persons or entities that guarantee the Senior Notes or any indebtedness or other obligations of the Company under the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Indenture, are the Guarantors. Except as provided by law or by the Loan Agreement, no subsidiary of the Company (other than previously unconsolidated joint ventures) is currently prohibited,
directly or indirectly, from paying any dividends to the Company, from making any other distribution on such subsidiary&#146;s capital stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring
any of such subsidiary&#146;s property or assets to the Company or any other subsidiary of the Company. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) The Company
and, to the best of its knowledge, its officers and directors in their capacities as such, are in compliance with the applicable provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission promulgated in connection
therewith that are effective as of the date hereof, except where the failure to so comply would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and
its subsidiaries considered as one enterprise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvii) The Company and the Guarantors are in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (&#147;<U>Environmental Laws</U>&#148;),
except where such noncompliance with Environmental Laws would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one
enterprise. There are no costs or liabilities associated with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any permit,
license or approval or any related constraints on operating activities or any potential liabilities to third parties) which would have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business
prospects of the Company and its subsidiaries considered as one enterprise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxviii) Neither the Company nor any Guarantor
has any liability for any prohibited transaction or accumulated funding deficiency (within the meaning of Section&nbsp;412 of the Internal Revenue Code of 1986, as amended) or any complete or partial withdrawal liability with respect to any pension,
profit sharing or other plan which is subject to the Employee Retirement Income Security Act of 1974, as amended (&#147;<U>ERISA</U>&#148;), to which the Company or any Guarantor makes or ever has made a contribution and in which any employee of the
Company or any Guarantor is or has ever been a participant, except where such liability would not have a material adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its
subsidiaries considered as one enterprise. With respect to such plans, the Company and each Guarantor is in compliance in all material respects with all applicable provisions of ERISA, except where such noncompliance would not have a material
adverse effect on the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxix) The Registration Statement is not the subject of a pending proceeding or
examination under Section&nbsp;8(d) or 8(e) of the 1933 Act, and neither the Company nor any of the Guarantors nor any of the Company&#146;s other subsidiaries is the subject of a pending proceeding under Section&nbsp;8A of the 1933 Act in
connection with the offering of the Securities or the Guarantees. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxx) The statements (including any assumptions
described therein) included under the caption &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations&#151;Outlook&#148; in the Company&#146;s Annual Report on Form 10-K for the fiscal year ended
November&nbsp;30, 2014 are within the coverage of Rule 175(b) under the 1933 Act to the extent such statements constitute &#147;forward-looking statements&#148; as defined in Rule 175(c) under the 1933 Act and were made by the Company with a
reasonable basis and reflect the Company&#146;s good faith estimate of the matters described therein. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxxi) The Company
is not and, to the knowledge of the Company, none of its subsidiaries or any director, officer, agent, employee or affiliate of the Company or any of its subsidiaries is currently subject to any sanctions administered by the Office of Foreign Assets
Control of the U.S. Department of the Treasury (&#147;<U>OFAC</U>&#148;); and the Company will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to
any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person that at the time of such financing is subject to any U.S. sanctions administered by OFAC. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxxii) The Company is not and, to the knowledge of the Company, none of its currently operating subsidiaries nor any director,
officer, agent, employee or affiliate of the Company or any of its currently operating subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of
1977, as amended, and the rules and regulations thereunder (the &#147;<U>FCPA</U>&#148;), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment,
promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign
political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Company and, to the knowledge of the Company, its currently operating subsidiaries and its affiliates have conducted their
businesses in compliance with the FCPA and have instituted and maintain policies and procedures reasonably designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxxiii) The operations of the Company and, to the knowledge of the Company, the operations of its subsidiaries are and have
been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements and the money laundering statutes and the rules and regulations thereunder and any related or similar rules, regulations or guidelines,
issued, administered or enforced by any governmental </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
agency (collectively, the &#147;<U>Money Laundering Laws</U>&#148;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxxiv) The interactive data in the XBRL included as an exhibit to the Registration Statement has been prepared in accordance
with the Commission&#146;s rules and guidelines applicable thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any certificate signed by any officer or other authorized
signatory of the Company or any of the Guarantors and delivered to the Representatives or to counsel for the Underwriters shall be deemed a joint and several representation and warranty by the Company and the Guarantors to each Underwriter as to the
matters covered thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Sale and Delivery to Underwriter; Closing</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) On the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company
agrees to sell to each Underwriter, and each Underwriter, severally and not jointly, agrees to purchase from the Company, at 99.0% of the principal amount thereof, the aggregate principal amount of Securities set forth in Schedule&nbsp;B opposite
the name of such Underwriter, plus any additional aggregate principal amount of Securities which such Underwriter may become obligated to purchase pursuant to the provisions of Section&nbsp;10 hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Payment of the purchase price for the Securities shall be made at the offices of the Company, 10990 Wilshire Boulevard, Los Angeles,
California, or at such other place as shall be agreed upon by the Representatives and the Company, at 6:30 a.m., California time, on February&nbsp;17, 2015, or such other time not later than ten business days after such date as shall be agreed upon
by the Representatives and the Company (such time and date of payment and delivery of the Securities being herein called the &#147;<U>Closing Time</U>&#148;). Payment shall be made to the Company by wire transfer of immediately available funds to a
bank account designated by the Company, against delivery to the Representatives for the respective accounts of the several Underwriters of book-entry positions through the facilities of the Depositary Trust Company (&#147;<U>Book-Entry
Positions</U>&#148;) for the Securities to be purchased by them. Book-Entry Positions for the Securities shall be in such denominations and registered in such names as the Representatives may request in writing at least one full business day before
Closing Time. It is understood that each Underwriter has authorized the Representatives, for its account, to accept delivery of, receipt for, and make payment of the purchase price for, the Securities which it has agreed to purchase. Credit Suisse,
Merrill Lynch, Citigroup and Deutsche Bank, individually and not as representatives of the Underwriters, may (but shall not be obligated to) make payment of the purchase price for any Securities to be purchased by any Underwriter whose payment
therefor has not been received by the Closing Time, but such payment shall not relieve such Underwriter from its obligations hereunder. The certificates for the Securities shall be registered in the name of Cede&nbsp;&amp; Co., as nominee of the
Depositary Trust Company, and in such denominations as the Representatives shall have requested at least one full business day prior to the Closing Time and shall be made available for inspection on the business day preceding the Closing Time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Covenants of the Company</U>. The Company and each Guarantor, jointly and
severally, covenant with each Underwriter as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Subject to the provisions of Sections 3(b) hereof, during the period beginning
on the date of this Agreement through and including the date (the &#147;<U>Termination Date</U>&#148;), which date shall not be earlier than the Closing Time, as evidenced by a notice from the Representatives to the Company (which notice from the
Representatives may be in writing or oral), on which all of the Securities shall have been sold by the Underwriters and the Prospectus is no longer required to be delivered or made available on request to investors under the 1933 Act, the 1933 Act
Regulations, the 1934 Act or the 1934 Act Regulations, the Company will notify the Representatives immediately, and confirm the notice in writing, (i)&nbsp;of the effectiveness of any <FONT STYLE="white-space:nowrap">post-effective</FONT> amendment
to the Registration Statement, (ii)&nbsp;of the mailing, the delivery or transmittal to the Commission for filing of any Preliminary Prospectus, the Prospectus or any Issuer Free Writing Prospectus or any amendment to the Registration Statement or
amendment or supplement to any Preliminary Prospectus, the Prospectus or any Issuer Free Writing Prospectus or any document incorporated or deemed to be incorporated by reference in or otherwise deemed to be a part of or included in any of the
foregoing (including, without limitation, pursuant to Rule&nbsp;430B) or any document to be filed pursuant to the 1934&nbsp;Act by the Company or any Guarantor, (iii)&nbsp;of the receipt of any comments or inquiries from the Commission relating to
the Registration Statement, the Preliminary Prospectus, the Prospectus or any Issuer Free Writing Prospectus or the documents incorporated or deemed to be incorporated by reference in or otherwise deemed to be a part of or included in any of the
foregoing (including, without limitation, pursuant to Rule&nbsp;430B), (iv)&nbsp;of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to any Preliminary Prospectus, the Prospectus or any
Issuer Free Writing Prospectus or any documents incorporated or deemed to be incorporated by reference in or otherwise deemed to be a part of or included in any of the foregoing (including, without limitation, pursuant to Rule&nbsp;430B) or for
additional information, (v)&nbsp;of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose or of any examination pursuant to Section&nbsp;8(e)
of the 1933 Act concerning the Registration Statement and (vi)&nbsp;if the Company or any of the Guarantors or any of the Company&#146;s other subsidiaries becomes the subject of a proceeding under Section&nbsp;8A of the 1933 Act in connection with
the offering of the Securities or the Guarantees. The Company will make every reasonable effort to prevent the issuance of any stop order and, if any stop order is issued, to obtain the lifting thereof at the earliest possible moment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) During the period beginning on the date of this Agreement through and including the Termination Date, the Company will give the
Representatives notice of its intention to file or prepare any post-effective amendment to the Registration Statement or any amendment or supplement to any Preliminary Prospectus, the Prospectus or any Issuer Free Writing Prospectus (including any
revised prospectus that the Company proposes for use by the Underwriters in connection with the offering of the Securities that differs from the Prospectus first provided to the Underwriters for use in connection with the offering of the Securities
(whether to meet requests of purchasers pursuant to Rule 173 under the 1933 Act Regulations or otherwise) or, if not furnished to the Underwriters, in the form first filed pursuant to Rule&nbsp;424(b) of the 1933 Act Regulations), will furnish the
Representatives with copies of any such amendment or supplement a reasonable amount of time prior to such proposed filing or use, as the case may be, and, except </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
in the case of Current Reports on Form 8-K that are deemed to have been &#147;furnished&#148; and not &#147;filed&#148; for purposes of the 1933 Act and the 1934 Act and are therefore not
incorporated or deemed to be incorporated by reference in the Registration Statement, any Preliminary Prospectus or the Prospectus, will not file any such amendment or supplement or use any such prospectus to which the Representatives or counsel for
the Underwriters shall reasonably object. The Company has given the Representatives notice of any filings made pursuant to the 1934 Act or 1934 Act Regulations within 48 hours prior to the Applicable Time; the Company will give the Representatives
notice of its intention to make any such filing from the Applicable Time through the Termination Date and will furnish the Representatives with copies of any such documents a reasonable amount of time prior to such proposed filing and, except in the
case of Current Reports on Form 8-K that are deemed to have been &#147;furnished&#148; and not &#147;filed&#148; for purposes of the 1933 Act and the 1934 Act and are therefore not incorporated or deemed to be incorporated by reference in the
Registration Statement, any Preliminary Prospectus or the Prospectus, will not file or use any such document to which the Representatives or counsel for the Underwriters shall reasonably object. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Company has delivered to the Representatives one copy of the Registration Statement as originally filed and of each amendment thereto
(including exhibits filed therewith or incorporated by reference therein and documents incorporated or deemed to be incorporated by reference therein) and will also deliver to the Representatives as many conformed copies of the Registration
Statement as originally filed and of each amendment thereto (without exhibits) as the Representatives may reasonably request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The
Company will furnish to each Underwriter, from time to time during the period when the Prospectus is required to be delivered or furnished upon request to investors under the 1933 Act, the 1933 Act Regulations, the 1934 Act or the 1934 Act
Regulations, such number of copies of each Preliminary Prospectus, if any, the Prospectus (as amended or supplemented, if applicable) and each Issuer Free Writing Prospectus as such Underwriter may reasonably request, for the purposes contemplated
by the 1933 Act, the 1933 Act Regulations, the 1934 Act or the 1934 Act Regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) If, during the period beginning on the date of
this Agreement through and including the Termination Date, any event shall occur as a result of which it is necessary, in the opinion of counsel for the Underwriters or the Company, to amend or supplement the Prospectus in order to make the
Prospectus not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, the Company will, subject to the provisions of Section&nbsp;3(b) hereof, forthwith amend or supplement the Prospectus (in form and
substance satisfactory to the Representatives and counsel for the Underwriters) so that, as so amended or supplemented, the Prospectus will not include an untrue statement of a material fact or omit to state a material fact necessary in order to
make the statements therein, in the light of the circumstances existing at the time it is delivered to a purchaser, not misleading, and the Company will furnish to the Underwriters a reasonable number of copies of such amendment or supplement. If at
any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted or would conflict with the information contained in the
Registration Statement or the Statutory Prospectus or any other Preliminary Prospectus, the Company will promptly notify the Representatives and will promptly cease use of such Issuer Free Writing Prospectus or, subject to the provisions of
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Section&nbsp;3(b) hereof, amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict. If at any time following issuance of an Issuer Free
Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances prevailing at that subsequent time, not misleading, the Company will promptly notify the Representatives and the Underwriters and will promptly cease use of such Issuer Free
Writing Prospectus (and each of the Underwriters agrees, severally and not jointly, that, upon receipt of such notice from the Company, such Underwriter will promptly cease use of such Issuer Free Writing Prospectus) and, subject to the provisions
of Section&nbsp;3(b) hereof, the Company will promptly amend or supplement, at its own expense, either (a)&nbsp;such Issuer Free Writing Prospectus or (b)&nbsp;the Statutory Prospectus and the Prospectus to eliminate or correct such conflict, untrue
statement or omission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Company and the Guarantors will endeavor, in cooperation with the Underwriters, to qualify the Securities
and the Guarantees for offering and sale under the applicable securities laws of such states and other jurisdictions of the United States as the Representatives may designate; <U>provided</U>, <U>however</U>, that neither the Company nor any of the
Guarantors shall be obligated to qualify as a foreign corporation or other entity, as the case may be, in any jurisdiction in which it is not so qualified. In each jurisdiction in which the Securities or the Guarantees have been so qualified, the
Company and the Guarantors will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification in effect for so long as may be required by applicable law. The Company will promptly advise the
Representatives of the receipt by the Company of any notification with respect to the suspension of qualification of the Securities or the Guarantees for sale in any state or jurisdiction or the initiating or threatening of any proceeding for such
purpose. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The Company will timely file such reports pursuant to the 1934 Act as are necessary in order to make generally available to
its securityholders as soon as practicable an earnings statement for the purposes of, and to provide to the Underwriters the benefits contemplated by, the last paragraph of Section&nbsp;11(a) of the 1933 Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Company will use the net proceeds received by it from the sale of the Securities in the manner to be specified in the General
Disclosure Package and Prospectus Supplement under &#147;Use of Proceeds.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (1) Immediately following the execution of this
Agreement, the Company will prepare a final term sheet (the &#147;<U>Final Term Sheet</U>&#148;) reflecting the final terms of the Securities, in the form set forth on Schedule C hereto, with such changes therein or additions thereto as may be
approved by the Representatives, and shall as promptly as practicable file such Final Term Sheet as an &#147;issuer free writing prospectus&#148; pursuant to Rule 433; <U>provided</U> that the Company shall furnish the Representatives with copies of
any such Issuer Free Writing Prospectus a reasonable amount of time prior to such proposed filing and will not use or file any such Issuer Free Writing Prospectus to which the Representatives or counsel to the Underwriters shall reasonably object.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Immediately following the execution of this Agreement, the Company will prepare a prospectus supplement, dated the
date hereof (the &#147;<U>Prospectus Supplement</U>&#148;), </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
containing the terms of the Securities and the Guarantees, the plan of distribution thereof and such other information as may be required by the 1933&nbsp;Act or the 1933&nbsp;Act Regulations or
as the Representatives and the Company deem appropriate. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) The Company will effect the filings (including, without
limitation, the filings of the Statutory Prospectus, the Prospectus and each Issuer Free Writing Prospectus) required under Rule&nbsp;424(b) and Rule 433, as the case may be, in the manner and within the time period required by Rule&nbsp;424(b)
(without reliance on Rule 424(b)(8)) and Rule 433, as the case may be, and, if applicable, will take such steps as it deems necessary to ascertain promptly whether any such document transmitted for filing under Rule&nbsp;424(b) or Rule 433 was
received for filing by the Commission and, in the event that it was not, will promptly file such document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) The Company, during the
period when the Prospectus is required to be delivered under the 1933&nbsp;Act or the 1934&nbsp;Act (or would be required to be delivered upon request by a purchaser pursuant to Rule&nbsp;173 under the 1934 Act), will file all documents required to
be filed with the Commission pursuant to Sections&nbsp;13, 14 or 15 of the 1934&nbsp;Act within the time periods required by the 1934&nbsp;Act and the 1934&nbsp;Act Regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) During a period from and including the date of this Agreement through and including the day which is 30 days after the date of this
Agreement, the Company will not, without the prior written consent of the Representatives, directly or indirectly, issue, sell, offer to sell, grant any option for the sale of, or otherwise dispose of, any debt securities or any securities
convertible into or exchangeable or exercisable for any debt securities (except for the Securities sold to the Underwriters pursuant to this Agreement); <U>provided</U> that the foregoing shall not prevent the Company or its subsidiaries from making
borrowings under existing bank credit facilities or letter of credit facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The Company and the Guarantors agree, jointly and
severally, that, unless they have obtained or will obtain the prior written consent of the Representatives, and each Underwriter, severally and not jointly, agrees with the Company that, unless it has obtained or will obtain, as the case may be, the
prior written consent of the Company, it has not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a &#147;free writing prospectus&#148; (as defined
in Rule 405) required to be filed by the Company with the Commission or retained by the Company under Rule 433, other than the information contained in the Final Term Sheet prepared and filed pursuant to Section&nbsp;3(i) hereof; <U>provided</U>
that the prior written consent of the parties hereto shall be deemed to have been given in respect of any Issuer Free Writing Prospectus included in Schedule D hereto. Any such free writing prospectus consented to by the Representatives or the
Company is hereinafter referred to as a &#147;Permitted Free Writing Prospectus.&#148; The Company and the Guarantors agree, jointly and severally, that (x)&nbsp;they have treated and will treat, as the case may be, each Permitted Free Writing
Prospectus as an Issuer Free Writing Prospectus and (y)&nbsp;they have complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the 1933 Act Regulations applicable to any Permitted Free Writing Prospectus,
including in respect of timely filing with the Commission, legending and record keeping. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Payment of Expenses</U>. The Company will pay all expenses incident to the
performance of its obligations under this Agreement, including (i)&nbsp;the printing and filing of the Registration Statement as originally filed and of each amendment thereto, (ii)&nbsp;the printing or reproduction of this Agreement and the other
Operative Documents, (iii)&nbsp;the preparation, issuance and delivery of the certificates for the Securities to the Underwriters, (iv)&nbsp;the fees and disbursements of counsel and accountants to the Company and the Guarantors, (v)&nbsp;the
qualification of the Securities under securities laws in accordance with the provisions of Section&nbsp;3(f) hereof, including filing fees and the reasonable fees and disbursements of counsel for the Underwriters in connection therewith and in
connection with the preparation of the Blue Sky Survey, (vi)&nbsp;the printing and delivery to the Underwriter of copies of the Registration Statement as originally filed and of each amendment thereto, of any Permitted Free Writing Prospectus, any
Preliminary Prospectuses and of the Prospectus and any amendments or supplements thereto and any costs associated with the electronic delivery of any of the foregoing by the Underwriters to investors, (vii)&nbsp;the printing and delivery to the
Underwriters of copies of the Blue Sky Survey, (viii)&nbsp;the fees and expenses of the Trustee, including the fees and disbursements of counsel for the Trustee in connection with the Indenture and the Securities, (ix)&nbsp;any fees payable in
connection with the rating of the Securities; (x)&nbsp;any fees and expenses of a depositary in connection with holding the Securities in book-entry form, and (xi)&nbsp;any transfer taxes or other similar fees or charges under Federal law or the
laws of any state, or any political subdivision thereof, required to be paid in connection with the execution and delivery of this Agreement or the issuance by the Company or sale by the Company of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If this Agreement is terminated by the Representatives in accordance with the provisions of Section&nbsp;5 or Section&nbsp;9(a)(i), the
Company shall reimburse the Underwriters for all of their <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses, including the reasonable fees and disbursements of counsel for the Underwriters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Conditions of Underwriters&#146; Obligations</U>. The obligations of the Underwriters to purchase the Securities hereunder are
subject to the accuracy of the representations and warranties of the Company and the Guarantors herein contained, to the performance by the Company and the Guarantors of their respective obligations hereunder, and to the following further
conditions: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) At Closing Time no stop order suspending the effectiveness of the Registration Statement shall have been issued under the
1933&nbsp;Act or proceedings therefor initiated or threatened by the Commission. The Prospectus containing the 430B Information (including the Prospectus Supplement referred to in Section&nbsp;3(i) hereof) shall have been filed with the Commission
pursuant to Rule&nbsp;424(b) of the 1933&nbsp;Act Regulations within the prescribed time period (without reliance on Rule 424(b)(8)) and an Issuer Free Writing Prospectus containing the information in the Final Term Sheet shall have been filed with
the Commission pursuant to Rule&nbsp;433 within the prescribed time period, and prior to Closing Time the Company shall have provided evidence satisfactory to the Representatives of the timely filing or transmittal of each such document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At Closing Time the Representatives shall have received: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The favorable opinion, dated as of Closing Time, of Munger, Tolles&nbsp;&amp; Olson&nbsp;LLP, counsel for the Company and
the Guarantors, in form and substance satisfactory to counsel for the Underwriters, to the effect set forth in Exhibit A hereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The favorable opinion, dated as of Closing Time, of William A. (Tony)
Richelieu, Vice President and Corporate Secretary of the Company, in form and substance satisfactory to counsel for the Underwriters, to the effect set forth in Exhibit B hereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The favorable opinion, dated as of Closing Time, of Jones Day, counsel for the Underwriters, with respect to this
Agreement, the Indenture, the Securities, the Registration Statement, the Prospectus and such other matters as the Underwriters may request. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) In giving their opinions required by subsections&nbsp;(b)(i), (b)(ii) and (b)(iii), respectively, of this Section, Munger,
Tolles&nbsp;&amp; Olson&nbsp;LLP, William A. (Tony) Richelieu, and Jones Day shall each additionally state, either as part of their respective opinion or in a separate letter, that no facts have come to their attention that have caused them to
believe that </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the Registration Statement (which term shall be defined to include the Rule 430B Information) (except for
financial statements and schedules and other financial and statistical data included or incorporated by reference therein or omitted therefrom and any <FONT STYLE="white-space:nowrap">Form&nbsp;T-1,</FONT> as to which counsel need make no
statement), at the time it first became effective, as of the date that the Company&#146;s most recent Annual Report on Form&nbsp;10-K was filed with the Commission or at the &#147;new effective date&#148; with respect to the Underwriters pursuant to
Rule 430B(f)(2) of the 1933 Act Regulations, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein not misleading, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Prospectus (except for financial statements and schedules and other financial and statistical data included or
incorporated by reference therein or omitted therefrom and any <FONT STYLE="white-space:nowrap">Form&nbsp;T-1,</FONT> as to which counsel need make no statement), at the Representation Date or at Closing Time, included or includes an untrue
statement of a material fact or omitted or omits to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the General Disclosure Package (except for financial statements and schedules and other financial and statistical data
included or incorporated by reference therein or omitted therefrom and any Form T-1, as to which counsel need make no statement), as of the Applicable Time, included an untrue statement of a material fact or omitted to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) The favorable opinions, dated as of the Closing Time, of local counsel for
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
the Guarantors organized under the laws of the State of Arizona, the State of Colorado, the State of Nevada and the State of Texas, in form and substance satisfactory to counsel for the
Underwriters, to the effect set forth in Exhibit C hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) At Closing Time, there shall not have been, since the date hereof or since
the respective dates as of which information is given in the Registration Statement, the General Disclosure Package or Prospectus, any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business
prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, and the Representatives shall have received a certificate of the President or a Vice President of the Company and
of the chief financial or chief accounting officer of the Company, dated as of Closing Time, to the effect that (i)&nbsp;there has been no such material adverse change, (ii)&nbsp;the representations and warranties of the Company and the Guarantors
in Section&nbsp;1 are true and correct with the same force and effect as though expressly made at and as of Closing Time, (iii)&nbsp;the Company and each of the Guarantors has complied with all agreements and satisfied all conditions set forth in
this Agreement on its part to be performed or satisfied at or prior to Closing Time, (iv)&nbsp;no stop order suspending the effectiveness of the Registration Statement has been issued and, to the best of such officers&#146; knowledge and
information, no proceedings for that purpose have been initiated or threatened by the Commission, and (v)&nbsp;since the date of this Agreement, none of the ratings assigned by any nationally recognized statistical rating organization to any debt
securities of the Company or any subsidiary of the Company has been lowered and no such rating agency has publicly announced that it has placed any debt securities of the Company or of any subsidiary of the Company on what is commonly termed a
&#147;watch&nbsp;list&#148; for a possible downgrading. As used in this Section&nbsp;5(c), the term &#147;Registration Statement&#148; means the Registration Statement excluding any amendments or supplements thereto after the date of this Agreement;
the term &#147;General Disclosure Package&#148; means the General Disclosure Package excluding any amendments or supplements thereto after the Applicable Time; and &#147;Prospectus&#148; means the Prospectus excluding any amendments or supplements
thereto after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (i) At the Applicable Time, the Representatives shall have received from Ernst&nbsp;&amp;
Young&nbsp;LLP a letter dated such date, in form and substance satisfactory to the Representatives, containing statements and information of the type ordinarily included in accountants&#146; &#147;comfort letters&#148; to underwriters with respect
to the financial statements and financial information included and incorporated by reference in the Registration Statement, the General Disclosure Package and the Prospectus (including, without limitation, any pro forma financial statements), and
(ii)&nbsp;at the Closing Time, the Representatives shall have received from Ernst&nbsp;&amp; Young&nbsp;LLP a letter to the effect that they reaffirm the statements made in the letter furnished pursuant to clause (i)&nbsp;of this subsection
(d)&nbsp;of this Section, provided that such letter shall use a &#147;cut-off date&#148; not more than three business days prior to the Closing Time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) At Closing Time, the Securities shall have a rating of at least B2 from Moody&#146;s Investor&#146;s Service Inc., B from
Standard&nbsp;&amp; Poor&#146;s and B+ from Fitch Ratings, and the Company shall have delivered to the Representatives a letter from each such rating agency or other evidence satisfactory to the Representatives, confirming that the Securities have
such ratings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Prior to the Closing Time, if required by the 1933 Act, the 1933 Act Regulations, the 1939
Act or the 1939 Act Regulations, the Trustee shall have filed with the Commission an application for the purpose for determining the eligibility of the Trustee under the 1939 Act in accordance with the rules and regulations prescribed by the
Commission under Section&nbsp;305(b)(2) of the 1939 Act and the Commission shall not have issued an order refusing to permit such application to become effective or taken any similar action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) At Closing Time, counsel for the Underwriters shall have been furnished with such documents and opinions as they may require for the
purpose of enabling them to pass upon the issuance and sale of the Securities and Guarantees as herein contemplated and related proceedings, or in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any
of the conditions, herein contained; and all proceedings taken by the Company and the Guarantors in connection with the issuance and sale of the Securities and Guarantees as herein contemplated and in connection with the other transactions
contemplated by this Agreement shall be satisfactory in form and substance to the Representatives and counsel for the Underwriters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h)
At the Applicable Time and at the Closing Time, the Representatives shall have received from the Company a certificate of the chief financial officer of the Company substantially in the form of Exhibit&nbsp;D hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If any condition specified in this Section&nbsp;shall not have been fulfilled when and as required to be fulfilled, this Agreement may be
terminated by the Representatives by notice to the Company at any time at or prior to Closing Time, and such termination shall be without liability of any party to any other party except as provided in Section&nbsp;4 hereof. Notwithstanding any such
termination, the provisions of Sections&nbsp;4, 6, 7 and 8 shall remain in effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 6. <U>Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Company and the Guarantors, jointly and severally, agree to indemnify and hold harmless each Underwriter, its directors and officers,
its employees, and its respective affiliates and agents, in each case only for such affiliates and agents who have, or are alleged to have, participated in the distribution of Securities, and each person, if any, who controls any Underwriter within
the meaning of Section&nbsp;15 of the 1933 Act as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) against any and all loss, liability, claim, damage and
expense whatsoever, as incurred, arising out of any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or any amendment thereto (including, without limitation, the Rule&nbsp;430B Information) or
the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading or arising out of any untrue statement or alleged untrue statement of a material fact contained in
any Preliminary Prospectus, any Issuer Free Writing Prospectus, the General Disclosure Package or the Prospectus (or any amendment or supplement to any of the foregoing) or the omission or alleged omission therefrom of a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate
amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, if such settlement is effected with the written consent
of the Company; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) against any and all expense whatsoever, as incurred (including, subject to Section&nbsp;6(c)
hereof, the fees and disbursements of counsel chosen by the Representatives), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or
threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i)&nbsp;or (ii)&nbsp;above; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, <U>however</U>, that the foregoing indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising
out of any untrue statement or omission or alleged untrue statement or omission (1)&nbsp;made in reliance upon and in conformity with written information furnished to the Company by any Underwriter through the Representatives expressly for use in
the Registration Statement (or any amendment thereto) or any Preliminary Prospectus any Issuer Free Writing Prospectus, the General Disclosure Package or the Prospectus (or any amendment or supplement to any of the foregoing), it being understood
that such information is limited to the Underwriter Information (as defined below) or (2)&nbsp;in the <FONT STYLE="white-space:nowrap">Form&nbsp;T-1.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Underwriter, severally and not jointly agrees to indemnify and hold harmless the Company and its directors, each of its officers who
signed the Registration Statement and its employees, and each Guarantor and its directors, each of its officers who signed the Registration Statement and its employees, and each person who signed the Registration Statement on behalf of KB HOME
Florida LLC, a Delaware limited liability company (&#147;<U>KB Florida</U>&#148;), KB HOME Fort Myers LLC, a Delaware limited liability company (&#147;<U>KB Fort Myers</U>&#148;), KB HOME Tampa LLC, a Delaware limited liability company (&#147;<U>KB
Tampa</U>&#148;), KB HOME Treasure Coast LLC, a Delaware limited liability company (&#147;<U>KB Treasure Coast</U>&#148;), and KB HOME Jacksonville LLC, a Delaware limited liability company (&#147;<U>KB Jacksonville</U>&#148;), and each person, if
any, who controls the Company or any Guarantor within the meaning of Section&nbsp;15 of the 1933&nbsp;Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection&nbsp;(a) of this Section, as
incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement or any amendment thereto (including, without limitation, the Rule&nbsp;430B Information) or any
Preliminary Prospectus, any Issuer Free Writing Prospectus, the General Disclosure Package or the Prospectus (or any amendment or supplement to any of the foregoing) in reliance upon and in conformity with written information furnished to the
Company by such Underwriter through the Representatives expressly for use in the Registration Statement (or any amendment thereto) or such Preliminary Prospectus, such Issuer Free Writing Prospectus, the General Disclosure Package or the Prospectus
(or any amendment or supplement to any of the foregoing); <U>provided</U> that the Company acknowledges that the statements set forth under the caption &#147;Underwriting&#148; in the Statutory Prospectus and the Prospectus (i)&nbsp;in the table in
the first paragraph and (ii)&nbsp;the seventh paragraph (such statements, the &#147;<U>Underwriter Information</U>&#148;) constitute the only such information furnished in writing by or on behalf of each Underwriter. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each indemnified party shall give written notice as promptly as reasonably practicable to
each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but the failure so to notify the indemnifying party (i)&nbsp;will not relieve it from liability under paragraph (a)&nbsp;or
(b)&nbsp;above unless and to the extent such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii)&nbsp;will not, in any event, relieve the indemnifying party from any obligations to any indemnified
party other than the indemnification obligation provided in paragraph (a)&nbsp;or (b)&nbsp;above. An indemnifying party may participate at its own expense in the defense of any such action. In no event shall the indemnifying parties be liable for
the fees and expenses of more than one counsel (in addition to any local counsel), separate from their own counsel (i)&nbsp;in the case of indemnity pursuant to Section&nbsp;6(a), for the Underwriters, the directors and officers of any Underwriter,
and each person, if any, who controls any Underwriter within the meaning of Section&nbsp;15 of the 1933 Act and (ii)&nbsp;in the case of indemnity pursuant to Section&nbsp;6(b), for the Company and its directors, each of its officers who signed the
Registration Statement, and its employees, each Guarantor and its directors, each of its officers who signed the Registration Statement and its employees, and each person who signed the Registration Statement on behalf of KB Florida, KB Fort Myers,
KB Tampa, KB Treasure Coast and KB Jacksonville, and each person, if any, who controls the Company or any Guarantor within the meaning of Section&nbsp;15 of the 1933 Act, in each case in connection with any one action or separate but similar or
related actions in the same jurisdiction arising out of the same general allegations or circumstances. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened
proceeding in respect of which any indemnified party is a party and indemnity is provided hereunder, unless such settlement (x)&nbsp;includes an unconditional release of such indemnified party from all liability on claims that are the subject matter
of such proceeding and (y)&nbsp;does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Contribution</U>. In order to provide for just and equitable contribution in circumstances in which the indemnity agreement
provided for in Sections&nbsp;6(a) or (b)&nbsp;is for any reason held to be unenforceable by the indemnified parties although applicable in accordance with its terms, the Company and the Guarantors, on the one hand, and the Underwriters, on the
other hand, shall contribute to the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated by said indemnity agreement incurred by the Company and the Guarantors and one or more of the Underwriters, as incurred, in
such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by the Underwriters on the other from the offering of the Securities; <U>provided</U>, <U>however</U>, that in no case shall any
Underwriters be responsible for any amount in excess of the purchase discount or commission applicable to the Securities purchased by such Underwriters hereunder. For purposes of this Section&nbsp;7, the benefits received by the Company and the
Guarantors shall be deemed to be equal to the total net proceeds from the offering (before deducting expenses) received by it, and benefits received by the Underwriters shall be deemed to be equal to the total purchase discounts and commissions;
<U>provided</U>, <U>however</U>, that no person guilty of fraudulent misrepresentation (within the meaning of Section&nbsp;11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section, each director, officer, employee, and respective affiliate and agent, in each case only for such affiliates and agents who have, or are alleged to have, participated in the distribution of Securities,
and each person, if any, who controls any Underwriter within the meaning of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Section&nbsp;15 of the 1933 Act shall have the same rights to contribution as such Underwriter, and each director of the Company or any Guarantor, each officer of the Company or any Guarantor who
signed the Registration Statement, each employee of the Company or any Guarantor, and each person who signed the Registration Statement on behalf of KB Florida, KB Fort Myers, KB Tampa, KB Treasure Coast and KB Jacksonville, and each person, if any,
who controls the Company or any Guarantor within the meaning of Section&nbsp;15 of the 1933 Act shall have the same rights to contribution as the Company or such Guarantor, as the case may be. The Underwriters&#146; respective obligations to
contribute pursuant to this Section&nbsp;7 are several in proportion to the aggregate principal amount of Securities set forth opposite their respective names in Schedule&nbsp;B hereto and not joint. The obligations of the Company and the Guarantors
to contribute pursuant to this Section&nbsp;7 are joint and several. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Representations, Warranties and Agreements to Survive
Delivery</U>. All representations, warranties and agreements contained in this Agreement, or contained in certificates of officers of the Company or any of the Guarantors or any of the Company&#146;s other subsidiaries submitted pursuant hereto,
shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of any Underwriter or any controlling person, or by or on behalf of the Company or any of the Guarantors, and shall survive delivery of the
Securities to the Underwriters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Termination of Agreement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Representatives may terminate this Agreement, by notice to the Company, at any time at or prior to Closing Time (i)&nbsp;if there has
been, since the date of this Agreement or since the respective dates as of which information is given in the Registration Statement, the General Disclosure Package or the Prospectus, any material adverse change in the condition, financial or
otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii)&nbsp;if there has occurred any material
adverse change in the financial markets in the United States or any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political,
financial or economic conditions, in each case the effect of which is such as to make it, in the judgment of the Representatives, impracticable to market the Securities or to enforce contracts for the sale of the Securities, or (iii)&nbsp;if trading
in the securities of the Company has been suspended or materially limited by the Commission or a national securities exchange, or if trading generally on the New York Stock Exchange or the Nasdaq Global Select Market has been suspended or materially
limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices for securities have been required, by either of said exchanges or by order of the Commission or any other governmental authority, or if a banking
moratorium has been declared by either federal, New York or California authorities, or (iv)&nbsp;if the rating assigned by any nationally recognized statistical rating organization to any debt securities of the Company or of any subsidiary of the
Company shall have been lowered or if any such rating agency shall have publicly announced that it has placed any debt securities of the Company or any trust preferred securities, capital securities or similar securities of any subsidiary of the
Company on what is commonly termed a &#147;watch list&#148; for a possible downgrading. As used in this Section&nbsp;9(a), the term &#147;Registration Statement&#148; means the Registration Statement excluding any amendments or supplements thereto
after the date of this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agreement; the term &#147;General Disclosure Package&#148; means the General Disclosure Package excluding any amendments or supplements thereto after the Applicable Time; and
&#147;Prospectus&#148; means the Prospectus excluding any amendments or supplements thereto subsequent to the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
If this Agreement is terminated pursuant to this Section, such termination shall be without liability of any party to any other party except as provided in Section&nbsp;4 hereof. Notwithstanding any such termination, the provisions of
Sections&nbsp;4, 6, 7 and 8 shall remain in effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Default by One or More of the Underwriters</U>. If one or more of the
Underwriters shall fail at Closing Time to purchase the Securities which it or they are obligated to purchase under this Agreement (the &#147;<U>Defaulted Securities</U>&#148;), the Representatives shall have the right, within 24&nbsp;hours
thereafter, to make arrangements for one or more of the non-defaulting Underwriters or any other underwriters to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set
forth; if, however, the Representatives shall not have completed such arrangements within such 24&nbsp;hour period, then: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) if the
aggregate principal amount of the Defaulted Securities does not exceed 10% of the aggregate principal amount of Securities to be purchased at Closing Time, each of the non-defaulting Underwriters shall be obligated, severally and not jointly, to
purchase the full amount thereof in the proportions that their respective underwriting obligations hereunder bear to the underwriting obligations of all <FONT STYLE="white-space:nowrap">non-defaulting</FONT> Underwriters, or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) if the aggregate principal amount of the Defaulted Securities exceeds 10% of the aggregate principal amount of Securities to be purchased
at Closing Time, this Agreement shall terminate without liability on the part of any non-defaulting Underwriter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No action taken pursuant
to this Section&nbsp;shall relieve any defaulting Underwriter from liability in respect of its default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the event of any such default
which does not result in a termination of this Agreement, either the Representatives or the Company shall have the right to postpone the Closing Time for a period not exceeding seven days in order to effect any required changes in the General
Disclosure Package, the Prospectus or in any other documents or arrangements. As used herein, the term &#147;Underwriter&#148; includes any person substituted for an Underwriter under this Section&nbsp;10. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 11. <U>Notices</U>. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if
mailed or transmitted by any standard form of telecommunication. Notices to the Underwriters shall be directed to the Representatives at c/o Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, New York 10010-3629, Attention:
Transactions Advisory Group (fax number: 212-325-8278 and confirmation number: 212-538-0661); to c/o Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, 50 Rockefeller Plaza, New York, New York 10020 Attention: High Yield Legal Department
(fax number: 212-901-7897); to c/o Citigroup Global Markets Inc., 388 Greenwich Street, New York, New York 10013, Attention: General Counsel (fax number: 646-291-1469); to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
c/o Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005, Attention: High Yield Syndicate Desk, Third Floor, with a copy to the attention of the General Counsel, 36th Floor
(fax number: 212-797-4561); and notices to the Company and the Guarantors shall be directed to them at 10990&nbsp;Wilshire Boulevard, Los&nbsp;Angeles, California&nbsp;90024, Attention: William A. (Tony) Richelieu, Vice President and Corporate
Secretary (fax number: 310-231-4280). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Parties</U>. This Agreement shall inure to the benefit of and be binding upon the
Underwriters, the Guarantors and the Company and their respective successors. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than the Underwriters, the Guarantors and
the Company and their respective successors and the controlling persons and officers and directors and other persons referred to in Sections&nbsp;6 and 7 and their heirs and legal representatives, any legal or equitable right, remedy or claim under
or in respect of this Agreement or any provision contained herein. This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of the Underwriters, the Company and the Guarantors and their respective
successors and said controlling persons and officers and directors and other persons and their heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Securities from any Underwriter shall be
deemed to be a successor by reason merely of such purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 13. <U>No Advisory or Fiduciary Responsibility</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Each of the Company and the Guarantors hereby (i)&nbsp;acknowledges that the purchase and sale of the Securities pursuant to this
Agreement is an arm&#146;s-length commercial transaction between the Company and the Guarantors, on the one hand, and the Underwriters and any affiliate through which any of them may be acting, on the other hand, (ii)&nbsp;acknowledges that the
Underwriters are acting as principal and not as agent or fiduciary of the Company or the Guarantors, (iii)&nbsp;acknowledges that the Company&#146;s engagement of the Underwriters in connection with the offering and the process leading up to the
offering is as independent contractors and not in any other capacity, (iv)&nbsp;agrees that it is solely responsible for making its own judgments in connection with the offering (irrespective of whether any of the Underwriters has advised or is
currently advising the Company or any of the Guarantors on related or other matters); and (v)&nbsp;agrees that it will not claim that the Underwriters have rendered advisory services of any nature or respect, or owe an agency, fiduciary or similar
duty to the Company or any Guarantor, in connection with such transaction or the process leading thereto. Each of the Company and the Guarantors further acknowledge that (i)&nbsp;the several Underwriters and their respective affiliates may be
engaged in a broad range of transactions that involve interests that differ from those of the Company and the Guarantors and the several Underwriters have no obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary
relationship; and (ii)&nbsp;the Underwriters have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and the Company and the Guarantors have consulted their own legal, accounting, regulatory
and tax advisors to the extent they deemed appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 14. <U>Submission to Jurisdiction; Waiver of Jury Trial.</U> No
proceeding related to this Agreement or the transactions contemplated hereby may be commenced, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
prosecuted or continued in any court other than the courts of the State of New York located in the City and County of New York or in the United States District Court for the Southern District of
New York, which courts shall have jurisdiction over the adjudication of such matters, and the Company and the Guarantors hereby jointly and severally consent to the jurisdiction of such courts and personal service with respect thereto. The Company
and the Guarantors hereby jointly and severally waive all right to trial by jury in any proceeding (whether based upon contract, tort or otherwise) in any way arising out of or relating to this Agreement. The Company and the Guarantors jointly and
severally agree that a final judgment in any such proceeding brought in any such court shall be conclusive and binding upon the Company and the Guarantors and may be enforced in any other courts to whose jurisdiction the Company or any of the
Guarantors is or may be subject, by suit upon such judgment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 15. <U>Governing Law and Time</U>. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed in said State. Unless otherwise set forth herein, specified times of day refer to New York City time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGE FOLLOWS] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Company and the Guarantors a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement among the Underwriters, the Company and the Guarantors in accordance with its terms. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeff J. Kaminski</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Jeff J. Kaminski</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Executive Vice President and Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME COASTAL&nbsp;INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME GREATER LOS ANGELES&nbsp;INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME SACRAMENTO&nbsp;INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME SOUTH BAY INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">U<SMALL>NDERWRITING</SMALL> A<SMALL>GREEMENT</SMALL></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME RENO&nbsp;INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME LAS VEGAS&nbsp;INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME NEVADA INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME LONE STAR INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KBSA, INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME PHOENIX INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">U<SMALL>NDERWRITING</SMALL> A<SMALL>GREEMENT</SMALL></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="5">KB HOME TUCSON INC.</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME FLORIDA LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME FORT MYERS LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME TAMPA LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME TREASURE COAST LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">KB HOME COLORADO INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Vice President and Treasurer</TD></TR>
</TABLE></DIV> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">U<SMALL>NDERWRITING</SMALL> A<SMALL>GREEMENT</SMALL></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">KB HOME JACKSONVILLE LLC</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Thad Johnson</P></TD></TR></TABLE></DIV>
<DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;Thad Johnson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;Vice President and Treasurer</TD></TR>
</TABLE></DIV> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">U<SMALL>NDERWRITING</SMALL> A<SMALL>GREEMENT</SMALL></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONFIRMED AND ACCEPTED BY THE REPRESENTATIVES </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;as of the date first above written: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CREDIT SUISSE SECURITIES (USA) LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Joseph Palombini</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Joseph Palombini</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MERRILL LYNCH, PIERCE, FENNER &amp; SMITH</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&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;INCORPORATED</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s Andrew Power</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Andrew Power</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director Investment Banking</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CITIGROUP GLOBAL MARKETS INC.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kirkwood Roland</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Kirkwood Roland</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK SECURITIES INC.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Christopher Blum</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Christopher Blum</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">By:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Chris Young</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Chris Young</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of each of the Underwriters </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">U<SMALL>NDERWRITING</SMALL> A<SMALL>GREEMENT</SMALL></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">List of Guarantors </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Coastal&nbsp;Inc., a California corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Greater Los Angeles&nbsp;Inc., a California corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Sacramento Inc., a California corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME South Bay Inc., a California corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Reno Inc., a Nevada corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Las Vegas Inc., a Nevada corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Nevada Inc., a Nevada corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Lone Star Inc., a Texas corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top">KBSA, Inc., a Texas corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Phoenix Inc., an Arizona corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Tucson Inc., an Arizona corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Florida LLC, a Delaware limited liability company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Fort Myers LLC, a Delaware limited liability company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Tampa LLC, a Delaware limited liability company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Treasure Coast LLC, a Delaware limited liability company </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Colorado Inc., a Colorado corporation </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top">KB HOME Jacksonville LLC, a Delaware limited liability company </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Schedule A</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE B </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:75.00pt; font-size:8pt; font-family:Times New Roman">Names of Underwriters</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Aggregate<br>Principal<br>Amount<br>of Securities</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Credit Suisse Securities (USA) LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">80,002,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;Incorporated</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">56,666,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Citigroup Global Markets Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">56,666,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deutsche Bank Securities Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">56,666,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">
<P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">250,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Schedule B</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR></TABLE>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE C </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Pricing Term Sheet </U></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Schedule C </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE D </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Issuer General Use Free Writing Prospectuses </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1. Pricing Term Sheet set forth on Schedule C </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Schedule D </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d854918dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>FOR IMMEDIATE RELEASE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information contact: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Susan Martin, Media Contact </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">310-231-4142 or smartin@kbhome.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Or </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Katoiya Marshall, Investor Relations Contact </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">310-893-7446 or
kmarshall@kbhome.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>KB HOME REPORTS 25% INCREASE IN PRELIMINARY QUARTER-TO-DATE NET ORDERS WITH NET ORDER VALUE OF $519 MILLION UP 26% </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LOS ANGELES&#151;(BUSINESS WIRE)&#151; KB Home (NYSE: KBH), one of the nation&#146;s largest and most recognized homebuilders, today reported preliminary
quarter-to-date net order and community count information for its first fiscal quarter of 2015. Net orders for new homes were 1,499 quarter-to-date through February&nbsp;6, 2015, representing an increase of 25%, compared to net orders of 1,201
through February&nbsp;7 in the first quarter of last year. The current year quarter-to-date net order value rose 26% to $519.2 million, up from $413.7 million in the year earlier quarter-to-date period. The Company has opened 19 new communities
quarter-to-date through February&nbsp;6, 2015. At the start of the quarter, the Company had 227 communities open for sales, up 19% from 191 communities at the same time a year ago. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We have achieved significant year-over-year increases in our net orders and net order value driven primarily by the successful execution of our
community count growth strategy,&#148; said Jeffrey Mezger, president and chief executive officer of KB Home. &#147;Based on our expanding community count and the strength of our recent net order results, we are optimistic about the spring selling
season. We believe the momentum of these favorable trends, in combination with our solid backlog, support a positive revenue outlook for the remainder of the year, particularly in the third and fourth quarters.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About KB Home </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">KB Home is one of the largest and most
recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home is distinguished by its unique homebuilding approach to provide homebuyers optimal value and
choice, enabling each buyer to customize their new home from lot location to floor plan and elevation to structural options and design features. KB Home is a leader in utilizing state-of-the-art sustainable building practices. All KB homes are built
to be highly energy efficient, </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
helping to lower monthly utility costs, which the company demonstrates with its proprietary KB Home Energy Performance Guide<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> (EPG<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP>). KB Home has been named an ENERGY STAR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Partner of the Year for four consecutive years. A FORTUNE 1,000 company, Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker
symbol &#147;KBH.&#148; For more information about KB Home&#146;s new home communities, call 888-KB-HOMES or visit&nbsp;<U>www.kbhome.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking and Cautionary Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain
matters discussed in this press release, including any statements that are predictive in nature or concern future market and economic conditions, business and prospects, our future financial and operational performance, or our future actions and
their expected results are &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and projections about future events and are
subject to risks, uncertainties, and assumptions about our operations, economic and market factors, and the homebuilding industry, among other things. These statements are not guarantees of future performance, and we have no specific policy or
intention to update these statements. Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors. The most important risk factors that could cause our actual
performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to the following: general economic, employment and business conditions; population growth, household formations and
demographic trends; adverse market conditions, including an increased supply of unsold homes, declining home prices and greater foreclosure and short sale activity, among other things, that could negatively affect our consolidated financial
statements, including due to additional impairment or land option contract abandonment charges, lower revenues and operating and other losses; conditions in the capital, credit and financial markets (including residential mortgage lending standards,
the availability of residential mortgage financing and mortgage foreclosure rates); material prices and availability; subcontracted trade labor costs and availability; changes in interest rates; inflation; our debt level, including our ratio of debt
to capital, and our ability to adjust our debt level, maturity schedule and structure and to access the equity, credit, capital or other financial markets or other external financing sources, including raising capital through the public or private
issuance of common stock, debt or other securities, and/or project financing, on favorable terms; our compliance with the terms and covenants of our revolving credit facility; weak or declining consumer confidence, either generally or specifically
with respect to purchasing homes; </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
competition for home sales from other sellers of new and resale homes, including lenders and other sellers of homes obtained through foreclosures or short sales; weather conditions, significant
natural disasters and other environmental factors; government actions, policies, programs and regulations directed at or affecting the housing market (including the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, tax credits, tax
incentives and/or subsidies for home purchases, tax deductions for residential mortgage interest payments and property taxes, tax exemptions for profits on home sales, programs intended to modify existing mortgage loans and to prevent mortgage
foreclosures and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by government-sponsored enterprises and government agencies), the homebuilding industry, or construction activities; decisions regarding
federal fiscal and monetary policies, including those relating to taxation, government spending, interest rates and economic stimulus measures; the availability and cost of land in desirable areas; our warranty claims experience with respect to
homes previously delivered and actual warranty costs incurred, including our warranty claims and costs experience at certain of our communities in Florida; legal or regulatory proceedings or claims; our ability to use/realize the net deferred tax
assets we have generated; our ability to successfully implement our current and planned strategies and initiatives with respect to product, geographic and market positioning (including our efforts to expand our inventory base/pipeline with desirable
land positions or interests at reasonable cost and to expand our community count, open additional new home communities for sales, sell higher-priced homes and more design options, increase the size and value of our backlog, and our operational and
investment concentration in markets in California), revenue growth, asset optimization (including by effectively balancing home sales prices and sales pace in our new home communities), asset activation and/or monetization, local field management
and talent investment, containing and leveraging overhead costs, gaining share in our served markets and increasing our housing gross profit margins; consumer traffic to our new home communities and consumer interest in our product designs and
offerings, particularly from higher-income consumers; cancellations and our ability to realize our backlog by converting net orders to home deliveries; our home sales and delivery performance, particularly in key markets in California; our ability
to generate cash from our operations, enhance our asset efficiency, increase our operating income margin and/or improve our return on invested capital; the manner in which our homebuyers are offered and whether they are able to obtain residential
mortgage loans and mortgage banking services, including from Home Community Mortgage, our mortgage banking joint venture with Nationstar Mortgage LLC; the performance of Home Community Mortgage; information technology failures and data security
breaches; and other events outside of our control. See our Annual Report on Form 10-K for the fiscal year ended November&nbsp;30, 2014 and our other filings with the Securities and Exchange Commission for a further discussion of these and other
risks and uncertainties applicable to our business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">### </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>4
<FILENAME>d854918dex992.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><B>FOR IMMEDIATE RELEASE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">For more
information contact: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Susan Martin, Media Contact </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">310-231-4142 or
smartin@kbhome.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Or </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Katoiya Marshall, Investor Relations Contact </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">310-893-7446 or kmarshall@kbhome.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:15pt; font-family:ARIAL"><B>KB Home Announces Offering of Senior Notes
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>LOS ANGELES (February&nbsp;11, 2015)</B> &#151; KB Home (NYSE: KBH), one of the nation&#146;s largest and most recognized homebuilders, today announced that
it has commenced a public offering of $250.0 million in aggregate principal amount of senior notes due 2023. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as joint
book-running managers for the senior notes offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The senior notes will be guaranteed on an unsecured senior basis by certain of KB Home&#146;s subsidiaries
that have guaranteed KB Home&#146;s outstanding senior notes. KB Home intends to use the net proceeds from the senior notes offering (i)&nbsp;to retire its
6<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Notes due 2015, either by redemption on the optional redemption terms specified for such notes, purchase or repayment at maturity, and/or
(ii)&nbsp;for general corporate purposes, including without limitation working capital, land acquisition and land development. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The senior notes offering is being
made pursuant to an effective shelf registration statement that KB Home has on file with the Securities and Exchange Commission (&#147;SEC&#148;). A copy of the prospectus supplement and accompanying prospectus describing the senior notes offering,
when available, may be obtained by visiting EDGAR on the SEC&#146;s website at www.sec.gov or by contacting Credit Suisse at the following address: Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or e-mail:
newyork.prospectus@credit-suisse.com, or BofA Merrill Lynch at the following address: Attention: Prospectus Department, 222 Broadway, New York, New York 10038, email: dg.prospectus_requests@baml.com, or Citigroup at the following address: c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: batprospectusdept@citi.com or toll free at 1-800-831-9146, or Deutsche Bank Securities at the following address: Attention: Prospectus Group, 60 Wall Street,
New York, New York 10005, e-mail: prospectus.CPDG@db.com or toll free at 1-800-503-4611. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any
such jurisdiction. The senior notes offering is being made only by means of the prospectus supplement and accompanying prospectus. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>About KB Home </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">KB Home is
one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home is distinguished by its unique homebuilding approach to provide
homebuyers optimal value and choice, enabling each buyer to customize their new home from lot location to floor plan and elevation to structural options and design features. KB Home is a leader in utilizing state-of-the-art sustainable building
practices. All KB homes are built to be highly energy efficient, helping to lower monthly utility costs, which the company demonstrates with its proprietary KB Home Energy Performance Guide<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>
(EPG<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>). KB Home has been named an ENERGY STAR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Partner of the Year Sustained Excellence Award winner for four straight years and a
WaterSense<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Partner of the Year for four consecutive years. A FORTUNE 1,000 company, Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under
the ticker symbol &#147;KBH.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Forward-Looking and Cautionary Statements </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Certain matters discussed in this press release, including any statements that are predictive in nature or concern future market and economic conditions, business and
prospects, our future financial and operational performance, or our future actions and their expected results are &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about our operations, economic and market factors, and the homebuilding industry, among other things. These
statements are not guarantees of future performance, and we have no specific policy or intention to update these statements. Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a
number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to the following: general economic,
employment and business conditions; population growth, household formations and demographic trends; adverse market conditions, including an increased supply of unsold homes, declining home prices and greater foreclosure and short sale activity,
among other things, that could negatively affect our consolidated financial statements, including due to additional impairment or land option contract abandonment charges, lower revenues and operating and other losses; conditions in the capital,
credit and financial markets (including residential mortgage lending standards, the availability of residential mortgage financing and mortgage foreclosure rates); material prices and availability; subcontracted trade labor costs and availability;
changes in interest rates; inflation; our debt level, including our ratio of debt to capital, and our ability to adjust our debt level, maturity schedule and structure and to access the equity, credit, capital or other financial markets or other
external financing sources, including raising capital through the public or private issuance of common stock, debt or other securities, and/or project financing, on favorable terms; our compliance with the terms and covenants of our revolving credit
facility; weak or declining consumer confidence, either generally or specifically with respect to purchasing homes; competition for home sales from other sellers of new and resale homes, including lenders and other sellers of
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">
homes obtained through foreclosures or short sales; weather conditions, significant natural disasters and other environmental factors; government actions, policies, programs and regulations
directed at or affecting the housing market (including the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, tax credits, tax incentives and/or subsidies for home purchases, tax deductions for residential mortgage interest payments and
property taxes, tax exemptions for profits on home sales, programs intended to modify existing mortgage loans and to prevent mortgage foreclosures and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by
government-sponsored enterprises and government agencies), the homebuilding industry, or construction activities; decisions regarding federal fiscal and monetary policies, including those relating to taxation, government spending, interest rates and
economic stimulus measures; the availability and cost of land in desirable areas; our warranty claims experience with respect to homes previously delivered and actual warranty costs incurred, including our warranty claims and costs experience at
certain of our communities in Florida; legal or regulatory proceedings or claims; our ability to use/realize the net deferred tax assets we have generated; our ability to successfully implement our current and planned strategies and initiatives with
respect to product, geographic and market positioning (including our efforts to expand our inventory base/pipeline with desirable land positions or interests at reasonable cost and to expand our community count, open additional new home communities
for sales, sell higher-priced homes and more design options, increase the size and value of our backlog, and our operational and investment concentration in markets in California), revenue growth, asset optimization (including by effectively
balancing home sales prices and sales pace in our new home communities), asset activation and/or monetization, local field management and talent investment, containing and leveraging overhead costs, gaining share in our served markets and increasing
our housing gross profit margins; consumer traffic to our new home communities and consumer interest in our product designs and offerings, particularly from higher-income consumers; cancellations and our ability to realize our backlog by converting
net orders to home deliveries; our home sales and delivery performance, particularly in key markets in California; our ability to generate cash from our operations, enhance our asset efficiency, increase our operating income margin and/or improve
our return on invested capital; the manner in which our homebuyers are offered and whether they are able to obtain residential mortgage loans and mortgage banking services, including from Home Community Mortgage, our mortgage banking joint venture
with Nationstar Mortgage LLC; the performance of Home Community Mortgage; information technology failures and data security breaches; the possibility that the proposed offer and sale of the senior notes will not close timely, or at all; and other
events outside of our control. See our Annual Report on Form 10-K for the fiscal year ended November&nbsp;30, 2014 and our other filings with the SEC for a further discussion of these and other risks and uncertainties applicable to our business.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">### </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>5
<FILENAME>d854918dex993.htm
<DESCRIPTION>EX-99.3
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.3</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.3 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:13pt; font-family:ARIAL"><B>FOR IMMEDIATE RELEASE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">For more
information contact: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Susan Martin, Media Contact </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">310-231-4142 or
smartin@kbhome.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Or </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Katoiya Marshall, Investor Relations Contact </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">310-893-7446 or kmarshall@kbhome.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:15pt; font-family:ARIAL"><B>KB Home Announces Pricing of Senior Notes
Due 2023 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>LOS ANGELES (February&nbsp;11, 2015) &#151; </B>KB Home (NYSE: KBH), one of the nation&#146;s largest and most recognized homebuilders, today
announced that it has priced an offering of $250.0 million in aggregate principal amount of its senior notes due 2023 in its previously announced senior notes offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The senior notes will bear interest at a rate of 7.625% per annum and will be issued at a public offering price of 100.0%. The senior notes will be guaranteed on an
unsecured senior basis by certain of KB Home&#146;s subsidiaries that have guaranteed KB&nbsp;Home&#146;s outstanding senior notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">KB Home estimates the aggregate
net proceeds from the senior notes offering to be approximately $246.7 million, after deducting the underwriting discount and estimated offering expenses payable by KB&nbsp;Home. KB Home intends to use the net proceeds from the senior notes offering
(i)&nbsp;to retire its 6<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Notes due 2015, either by redemption on the optional redemption terms specified for such notes, purchase or repayment at
maturity, and/or (ii)&nbsp;for general corporate purposes, including without limitation working capital, land acquisition and land development. The closing of the senior notes offering is expected to occur on February&nbsp;17, 2015, subject to the
satisfaction of customary closing conditions. Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are acting as joint book-running managers for the senior notes offering. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">The senior notes offering is being made pursuant to an effective shelf registration statement that KB Home has on file with the Securities and Exchange Commission
(&#147;SEC&#148;). A copy of the prospectus supplement and accompanying prospectus describing the senior notes offering, when available, may be obtained by visiting EDGAR on the SEC&#146;s website at www.sec.gov or by contacting Credit Suisse at the
following address: Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or e-mail: newyork.prospectus@credit-suisse.com, or BofA Merrill Lynch at the following address: Attention: Prospectus Department, 222 Broadway, New
York, New York 10038, email: dg.prospectus_requests@baml.com, or Citigroup at the following address: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: batprospectusdept@citi.com or toll free at
1-800-831-9146, or Deutsche Bank Securities at the following address: Attention: Prospectus Group, 60 Wall Street, New York, New York 10005, e-mail: prospectus.CPDG@db.com or toll free at 1-800-503-4611. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor
shall there be any sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The senior notes offering is being
made only by means of the prospectus supplement and accompanying prospectus. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>About KB Home </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million
quality homes. KB Home is distinguished by its unique homebuilding approach to provide homebuyers optimal value and choice, enabling each buyer to customize their new home from lot location to floor plan and elevation to structural options and
design features. KB Home is a leader in utilizing state-of-the-art sustainable building practices. All KB homes are built to be highly energy efficient, helping to lower monthly utility costs, which the company demonstrates with its proprietary KB
Home Energy Performance Guide<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> (EPG<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>). KB Home has been named an ENERGY STAR<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>
Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> Partner of the Year for four consecutive years. A FORTUNE 1,000 company, Los Angeles-based KB
Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol &#147;KBH.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>Forward-Looking and Cautionary
Statements </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">Certain matters discussed in this press release, including any statements that are predictive in nature or concern future market and economic
conditions, business and prospects, our future financial and operational performance, or our future actions and their expected results are &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are based on current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about our operations, economic and market factors, and the homebuilding industry, among
other things. These statements are not guarantees of future performance, and we have no specific policy or intention to update these statements. Actual events and results may differ materially from those expressed or forecasted in forward-looking
statements due to a number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to the following:
general economic, employment and business conditions; population growth, household formations and demographic trends; adverse market conditions, including an increased supply of unsold homes, declining home prices and greater foreclosure and short
sale activity, among other things, that could negatively affect our consolidated financial statements, including due to additional impairment or land option contract abandonment charges, lower revenues and operating and other losses; conditions in
the capital, credit and financial markets (including residential mortgage lending standards, the availability of residential mortgage financing and mortgage foreclosure rates); material prices and availability; subcontracted trade labor costs and
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g854918g62g42.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL">
availability; changes in interest rates; inflation; our debt level, including our ratio of debt to capital, and our ability to adjust our debt level, maturity schedule and structure and to access
the equity, credit, capital or other financial markets or other external financing sources, including raising capital through the public or private issuance of common stock, debt or other securities, and/or project financing, on favorable terms; our
compliance with the terms and covenants of our revolving credit facility; weak or declining consumer confidence, either generally or specifically with respect to purchasing homes; competition for home sales from other sellers of new and resale
homes, including lenders and other sellers of homes obtained through foreclosures or short sales; weather conditions, significant natural disasters and other environmental factors; government actions, policies, programs and regulations directed at
or affecting the housing market (including the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, tax credits, tax incentives and/or subsidies for home purchases, tax deductions for residential mortgage interest payments and property
taxes, tax exemptions for profits on home sales, programs intended to modify existing mortgage loans and to prevent mortgage foreclosures and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by government
sponsored enterprises and government agencies), the homebuilding industry, or construction activities; decisions regarding federal fiscal and monetary policies, including those relating to taxation, government spending, interest rates and economic
stimulus measures; the availability and cost of land in desirable areas; our warranty claims experience with respect to homes previously delivered and actual warranty costs incurred, including our warranty claims and costs experience at certain of
our communities in Florida; legal or regulatory proceedings or claims; our ability to use/realize the net deferred tax assets we have generated; our ability to successfully implement our current and planned strategies and initiatives with respect to
product, geographic and market positioning (including our efforts to expand our inventory base/pipeline with desirable land positions or interests at reasonable cost and to expand our community count, open additional new home communities for sales,
sell higher-priced homes and more design options, increase the size and value of our backlog, and our operational and investment concentration in markets in California), revenue growth, asset optimization (including by effectively balancing home
sales prices and sales pace in our new home communities), asset activation and/or monetization, local field management and talent investment, containing and leveraging overhead costs, gaining share in our served markets and increasing our housing
gross profit margins; consumer traffic to our new home communities and consumer interest in our product designs and offerings, particularly from higher-income consumers; cancellations and our ability to realize our backlog by converting net orders
to home deliveries; our home sales and delivery performance, particularly in key markets in California; our ability to generate cash from our operations, enhance our asset efficiency, increase our operating income margin and/or improve our return on
invested capital; the manner in which our homebuyers are offered and whether they are able to obtain residential mortgage loans and mortgage banking services, including from Home Community Mortgage, our mortgage banking joint venture with Nationstar
Mortgage LLC; the performance of Home Community Mortgage; information technology failures and data security breaches; the possibility that the proposed offer and sale of the senior notes will not close timely, or at all; and other events outside of
our control. See our Annual Report on Form 10-K for the fiscal year ended November&nbsp;30, 2014 and our other filings with the SEC for a further discussion of these and other risks and uncertainties applicable to our business. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="center">### </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g854918g62g42.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g854918g62g42.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`8`+&`P$1``(1`0,1`?_$`/X``0`!!`(#`0``````
M```````(!@<)"@0%`0(+`P$!```'`0$!``````````````(#!`4&!P@!"0H0
M```&`0,"`P,'`P\(!0<-``$"`P0%!@<`$0@A$C$3"4$4%E$BU!56E@IA,GAQ
M@:$C-G:V%W<8.%B8N#F10C,DM=76V+'!T5)B4[,T)34GE_#ATD-4E+0F-T=7
MMQD1``$"!`,#!@4-!PX(#`<```$"`P`1!`4A$@8Q00=187$B$PB!,M(4"9&A
ML<'1TY0559465A="4F(C<[,W\.%RDJ*RPC-TM+4V=CB"4V.#DR0T5/%#P^-$
MA,34-75W.>*CY"4G&!G_V@`,`P$``A$#$0`_`-0RU-!&W6T3!N`VBP;#X;",
MP\#J&^^M\-@!L`;0![$8N2<\C'"1:@`?F[CTW'P`0`.G0/';?4R<\8$\L=BD
MS$0Z!T^3_)^IKP$#ICW*3MV1VB3#<"]-Q+T]FVWR_+TU[MZ(C$MXCG$8B'3M
M`1VZ>/7NVW_)KT;<=D>98Y!&0^P-NNW_`,OD#4S;C*/2G"<S..4FR-MM[0_[
M?\FHP,)F(9;)81R4V(>`@'CX?EZ=0_R:B`GANB$B6W;'*38==P+N/78-AV#P
M'QV\?^K484)2.R(9`8C88Y!&`^PO0"]?9O\`D_8U&.4&&PQ^I8WKU+^H'['Z
MG346?&<>$3Z(_0(\-R]`\1_6'I^L([#J8E0(Y(]D".>/W"/$`#8!#QWW#];]
M3V:CVX<T0G`#-RQV#2.`04^;W?,$?`?8;_(.O%[!+9./`03OE*/48XHCX"`]
M?9X]?U?#;QU$DX;(AZT\-D>IX\!*`;"&_AT'KM_\^O05<V:(<#M&$<8L>`=^
MP`&X[[=0\>FX[>`ZFXR$]L>>();XXJT>`!MV@;]@-]NOZP!J)..(CR:=_+'3
M'8AN.Y=^HA^;U#Q'Q_7U.QWSB1(2`,R9QPU6(;CL4`\1W`=^FW3]<=3<QP$I
MB/%)3L^ZCA*,C!N`@(["&VY=_P!GPU%$HI(//'$.S$`'YNWZFXCUWWZ>(;ZB
M`)V1XK,!S1Q#LA^38-MO;U_+\@_]>O<JI;(\!($M\<-1H/Y=_:&P_)[!'IID
MF<1!4@!RQPU6HA\W_IW`0#]GQU"I`&R(5`!(YB(X9FG0?';_`,0;^'Y>FH<J
MO&.Z/99L9R/ZMT;M?X-M'RG_`#^]G<GQY_4_-RQX>S6J^)@4!1E0_P`9_`C(
M+`22Z#^#[<;`>0?W>77]]<__`+4<Z_$-WA_T]ZU_M5=?Y\_'T^TC_52V?R!C
M\TF*0UIV,BAI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI
M"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(
M:0AI"&D(:0AI"&D(E]</\.G/7Z/'(;^!]VU^IST;O]SW2_Y2X_TE51PKQF_2
M-7=#/YEN/F0-:!P?PYQOXA7C-&*N3.4,A<A\373),P]QQG_'V+ZE`)5?,]_Q
M7'0T?`3^!\B2:ZBK"EINEESR&QE5C`4A0`-=S;HUO,SE[44I\?>F7_5;YI?V
MR,2_\IFD.MS>I#X^],O^JWS2_MD8E_Y3-(=;F]2'Q]Z9?]5OFE_;(Q+_`,IF
MD.MS>I#X^],O^JWS2_MD8E_Y3-(=;F]2'Q]Z9?\`5;YI?VR,2_\`*9I#K<WJ
M0^/O3+_JM\TO[9&)?^4S2'6YO4A\?>F7_5;YI?VR,2_\IFD.MS>I#X^],O\`
MJM\TO[9&)?\`E,TAUN;U(?'WIE_U6^:7]LC$O_*9I#K<WJ0^/O3+_JM\TO[9
M&)?^4S2'6YO4BL\MX\X;X^8<3<UU_&W(E7".?L/Y<M=]Q5+9QHCG);2;H6;K
M-B:'"K95;849UZ.C'$A764DX2<UMVH=$%FY5"&4(LFA,_J$0/MC;:V6H=A_=
M/8`VZ>'UN]'?]C6_$$!">@1AZDD&?/$\.!O!"4Y=6217LDU/47%\4B[9N;?"
M0K29E7<^9`_N;:(C9-W'L'C-BMVF>G.NF!2"!"#Y@CVX!K37=-I;LZ9I*7KB
ML@Y)[$[YRQF=P\)W1E6G]-/7A*GW"44B1@>4^Q(;_4B9UI]$VS?ZV?$G)S$=
MZ%LJNB6+MT=.XUE3JMU#)*M2NG(3];6734*)1'W\A.X!ZZP-'&ZE#O9.T[8<
M2<1VLC^Z1+UXR97#>H[(.I4]V1V')F'3U2"/4B*U]],#F=C5%5Y*X2M5AATB
M&5//X^08Y$A?)(`F%<[RER4X*"/:&^ZA""'R:OC7%^VN":Z5X#E2M*AZWNQ;
ME:'?02E-0WFV24E23ZAE$/IFC3E=='CYM@\BGJ)@(JQE6#V,>)*!XD.V?((K
M@8OM#M_)JYL<5K"O:S4`_P"`?X44KFB;D,>T:/[8>U'1"P42W$Y!$"AN(@0^
M_AW=P;E#Q`=71OB9II7C=NF?*CW"8I5:1NR=A:/0H^V(_5%!(^W:8@B(#V@(
M]A@[?$!*;8=PVUDE#JFP7`2IJIO.=RCE/J*E%IJ;+<J69>:7EY1UAZT=BDQ(
M80#M\?`0^7V?JCJ_I6A2<S9!3RB1$6@I5]V")<L=B6.V#?M';]0=OEUZE0)E
M'F4'$QX%MV>S;Y/#P\/U-3L(]")'*=L?D8A0$>GM]OR_]HCJ7F$X]*#MWQZ[
MD`Q2=.\Y@*4@?G&,/3M*0-S&,._0`#<=1YDCHB'(HX2QG%7RE,M->:0[ZPUB
MR5YI86ZSR`=SD')Q#:<:MU`1<.(A:0;-R2*""I@*<R0G*41#?QUY2UM&^M;;
M#K;CC9ZP2H**2=@,CAX8FO4SK20IQ"TA0PF")]$>C%D`F$.W<1*(?('7;Q#?
MQWU5+Q')*)!&&$<D(CKL)=MQ^0=_E\.OC^MKW,`F/0@G`[(\K17:'0H;$*(^
M&PB/LWV'Y=1HGM)QB!20#*.I&.$HB/;^4>@^(CN`?+[=38E[(ZU=D(@.Q>G4
M!'8?#?IL`:FI&,I8Q)S?=@8@1U2K';?</'H'3KT_+^IJ>A(&')$DYDX82.,<
M([$>OS?#V_*`_*'CX:F2`VB/"K".(I'AX[&^7\NX^`>'AUU,`$O#$)(Y8X*C
M#;<1*/M]GAM\H>T-]3);XE*4`-AGOY/<,<,['<1Z>`;>WH&_^0-,LL<91YVF
M,]\<%1A^3IXC\G3QU[+'EB#`JF3ZT<%9B/\`W?R]0\?#Q'IX:%(@HI*<#)4<
M%1GU'YO^3\GY!W'KOKR71./`M6:8WQNK?@[4?)?\^-@_.3X]]?8.P96'IX^&
M^M3<4!(47^=_@1DNGS/M3^Q]N,]^0?W>77]]<_\`[4<Z_$#WA_T]ZU_M5=?Y
M\_'T_P!(_P!5+9_(&/S28I#6G8R*&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"
M&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:
M0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0B7UP_PZ<]?H\<AOX'W;7ZG/1N_W
M/=+_`)2X_P!)54<*\9OTC5W0S^9;CY=')[^BMZ7/Z*65O[WF===RQK<;3$*&
M49*29U$XN+E)51(H'53BXU])*)$,(E*=4C%!<Z1#&#8!,``(Z1['8_"EM^R%
MN^ZT_P#[NTA'YK5JSMDE%W-7L[9NB0RBSAS7)INW13*&YU%EUF)$DDR`&XF,
M(``>(Z0C\VL!87Z)7,?7;#(-3B8".H^!EGS502B)3@1RT9K('$A@$!V,.PAL
M/72$<CX4MOV0MWW6G_\`=VD(?"EM^R%N^ZT__N[2$/A2V_9"W?=:?_W=I"..
MY@+"R3%9[7+$R1*`F,J\@)=HD4I=NXQE'#),A2EWZB([!I".F3435#N3.10N
M^VY#`8-_DW*(]=(1[Z0C(!R2_H>>G%_(!R2_OM7W2/!M/3%B(G&MGRCEM_2*
MA'K/YR=N$RV;$*F<4FZ*DTZ*J\<B&_8V;E'<1]O@'4=;FNEVH[-;57"M6$LM
MIGTF6"1SF+';Z!ZXU0I*<$N*/)@.<QL_8FH]5X_\=%L#87D;3)/:S'J2><<K
M%3C1A:]D6T1[]Y'0$>W.O[VNG)$A5FW[4H"S8>Y8I`#<-<7ZBU4]J#59<N2F
MFZVH2YYLD2SAIL`JGO5(929>+,3GA&];5:F[30(:3BRD@$8]91VGF]O9%K<9
MWV0)5HHY'*I2'\\Q0!4P"`"Y5$-^H;B'M^7VZPVNI$FI42,</8C/Z.I4EA(W
M3,76XE<F+=:/4-@>*\T_91E(MF/W$Y&V5BK-L+5!SS"N2T^`D<Q+])N\C7BL
M<5)0BJ!Q33,(EW'5QI;/3&UHK2\XR\ITI*LQ"0!OD,9[M_1&-WB\U**]=(&F
MG&4H2H!205$G:)G=O]N)$\T.2%(Q/E+!&$LF5Z"S2ZSW77-AKSRTT^D7VM13
M(DB_BTHZ1?3T,PL#=V9>-4$3D*;L#;KOJ&A7>U6Y5TIJEMQA",Q25=I,;,%9
M4F?*"!%#1U-FK:M-&]3K9<<5E"D$@9I3Q221*7)ZD0IO^(?3NLLG6([(V*J[
MA^9O4Z%;K\Q0[Y,XW;2L^Z(*K9@BREE+%4BO5O!)(R""9S"!`ZCJMH-175_,
M$4Y<#:<RBD^*!O,YQ<J^QV^E2%*J@C,J20M.T\@*8H/)_HZ8L:H.`J6=;;03
MO%0;%B\Q8[CIN.*LDN1T1!M9J1)%=)K$5;@)C@Q*?L`0$.T1`;E2:UI2F;@4
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M%L5,P@*;%)N?M'98`ZZR:NXO:7HZ3MUEXU$C)L`9C(3.,Y`<\61O3=8Y4!AH
MH4)[09CP\D2CB?2#QA2'3E.ZY1>YOGX]RX17J%+FX;%#`5$C_M**[FPEEY]T
MJ9(P'.1!1N/78IO;K7U;QU?KF9Z?9ITN'9VBYGVD^S&:T7#I""'+HIX,D3FE
M!E[L7.98[@,`I;4GCQ6\6':@00M)ZD>SV`>PH%(N.1;*-B<D6./43M'+<!-X
M`'AK5M\UIKF\DBOJ74,'[EO!/1U<#&?6K3>E**1IVT./<J]OJ''V8N+?Y[%^
M;J0RQ9F9`]OID_'HR2=B:/??;AC^X^[-T/BFK2;LRZ[1ZFH(@Y:&'W=VF!B'
M*(#JBTMJV\:1N2:^C<6I!\=*B2%#?,$XCF\(D8J+WIR@OU(JG<0E#J?$(`'+
M(8>L?`9B,)&>^+]SX\6I&+EEVUGIL\59]0LBPZ1RP%OB2&$W3N[OJNQ,DQ`'
ML>H;S43]2]Z8E,/:^DM7VO5UM36T"AVH`[1N?62?;3R'P&1CG2]V*MLE6JEJ
MTF4\%;)_K_J&$651CP,;8"]W7Y!WZ`'C^3?66;IB+3(2CE.8L`0$P!L)@*7J
M'R[B/3KJ-N95(1"H3P$4^M&[`/S0Z^P`\-O;N&P!OJI"9XB)"@-FZ.E7CQ`!
M^;X>'3KMUZ=/RZJ4).^*52C([A..I5C0'KM[1\0V';I^IN.^JI*#OV1(,MQQ
MC@FC1\=O$?U=O^D=1A,CTQ#FEMG'%/&B'^;X[>(#XA_E]NIF7<8A*I<DXX*D
M<;KN'@/3</9XZ]2F0PBG6<2#'`/'!MOV[#X;@&_ZVO<G*9B$Q*6Z."I'"`;=
M?$=]P]GLUZ$DGECPDD2&Z.O6C]MQV]@;CU_)O^KKS$C&/.KOC@*QY0]NX]=P
M$-OU.H=!WWUX4F6$I>O`2,HW/?P@;;R'W/'_`,:?'_\`8#*G_;K4G%($)HI_
MY7^!&3:=)/:S_!]N,ZV0?W>77]]<_P#[4<Z_#_WA_P!/>M?[577^?/Q]0=(_
MU4MG\@8_-)BD-:=C(H:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0
MAI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&
MD(:0AI"&D(:0AI"&D(:0AI")?7#_``Z<]?H\<AOX'W;7ZG/1N_W/=+_E+C_2
M55'"O&;](U=T,_F6X^71R>_HK>ES^BEE;^]YG77<L:W&TQ^W!'U&N47IPW:Z
M7[B]/4Z%F\AP4-6K@A=*6PN<9+0D%*+3#!D5!VX9NH[_`%UP?S%&RR2IR&V[
M@V`0]!E!0"A(Q]47T].3<WS+X3<:^3]EKL=5++F3&,/:K'7X99PO#QM@!5U%
MS:<.H[.H[")6E(Y55L54YU4T#E*<QC`)ACBF4,JB(U4_Q+'JY<G,,9KMOIZX
MC2I%:Q!>./+$N79N7K*-DN%S;9;0L49)0\0_?N?<JK&QL`T(1-5!N9X9TJ<_
MFE*4A=0DRPB8V@2S';$4?PUO-CU(+-G?#7"?$A*M8^%N,#VRUYF0EL>10&Q]
M3K&>Q39WYLCLP9S9;-8+N](E$M%E7/GB)R^5[NBJ=,"=D1.!,BI7C&,GWJ^_
MB7FO%?)D[QHX,P%!RMD^G.%XO*68;B=Y/8UI%B1'L<4VHP\!*1AKK:8A4!))
MN%'B,>P7`6X%<+%5!'TF40H:F)JBT'H4>O-S8YL<W6G%OE"&,KE6+]0+]::U
M8ZE24:+/TZ=HT>E/`T.6-?N(Z;@92,!=`Q%D0=)+`D<%C%[RB!G!:$A,Q&S=
MZC/*]_P<X2<B>54/5V5TG,/T8LS7JO)NG#.*E[',3D15J^C+N6FSLD0A,3J"
MSL$1*J9NF<I#%.(&#V):1F4`8U)_3>_$[YTS'R?QU@?G;CS"D]B[-MRBL?1%
M]HE4D:O(XWLUN?HQ-7&;B)B>L\59*:^FG2#-V80;O&I52N.]4J9TSP@XRB:I
MH`32<1&>'U-?0>X=<[,:VZ5HF-:7@;DZTB)!_C_+>.H"/J328LJ""B["%RE`
MP3=G%6^M3+HH(N7*R(R;,JGG-UP$@IJ>D1`API/X,?+NLM<G*=9+%4+/'+1%
MFJ4_-5>QQ+@/V^+GZ]).H>9CEO#=1E(LU4Q'VB74$5&W'=$YN27]#STXOY`.
M27]]J^Z1X-IZ8EQDN[X]XN3;RN8I8LI?)4H2;BK7D$YQ<254C8R65:+>XLVR
MIT(F4DW@N!`P")!(!E?SE-@UM4WG4FK'G';J5M6T.%3;,LJ258@X@%0`E(GH
M&P1L.WTENLS:1297*M2`%+Y`!*0Y"9&8]V)F</<GJ..'_)HJ,%/V-ZXR)A!Z
MK)L"ME&GEO*KD\@*.'+YVFL+Q^]<;`0@*'`J9U#B4H!W:@U%24[7%?3BG76T
M/&DNB4(,\ZSV315ED)22$S45$;1*9V9$'W'+>5)!R!Q$SNQG+V^B7.(Z_%T:
MY<T&!=$(("=-R)B@.XD,#I4I@W#8!V\-PU=+DZE%<ML\WL1E5$VI5,E8V?KQ
M^_!2BR%J];#$;*3";A8)QBRS)'LC5R\@6R#A''5G[$T;*4J39HY,J8I`+YGS
MQ-VB`[[:KZQ2G=*(9I<JGEU021@2$DXDC=TQAUY4Y3WAVH*5%"6$XR)!,Q/I
MPCN_58JTC1>;/IXP\G)R4DNOCZ<=(*2;ELZ6;H%O%G33;HKM6S;WA`@[F`RG
M>IN?\X0VU9^';ZZO0E0ZML-X$2`*1M&XF8Q\$4-(M!OE,4;`X?8,0IYV3#MB
MAQMD4"@LO'<AZ6\0(<Q@2461<MU4TU#%^<5-0R>QA#J`>&LGTREM'GKCGB)H
MW">A(F>3DY1TB,AU45*;I0)XU('JB,C?J[W"Z63(G!6WS(/8E_)<@7R,JFWF
M$G;8Y7!$/=F"*S(S=5=FDV;^64BY`'L('=N(]=:<+&Z5TZC?;=2\'*9A0&12
M2CJ/2F%3&PB12I6S'=.QU"EMWUEH*/XNJ2F4SNPYISE,Q<;%N9I>A<M>'-?,
MNV=U'(V37E0ND'++MT(65AW[5LB95^X7*"C(\8"IED5TE$C)*!ON(=-9GI>W
MT=0M]RI82]V:`0DDIY=B@1*>$736E56H;8;IW5-)6I6:6,P)2F,8R`<ON1N4
M<1\P6&$,:6!Q6J+_`!,1V48]S&V*3DW[2PNGZ:)FR*BSUS%A'))F$"%*@14!
M#<3#OJGO=-5V]GSVG-13*SH3V2EJ4`%)S'QL9S]:+=I5=+<JI5#7-L/H[-1S
MY<JL"!M3+:#ZL2/P1<K[D_'S:U7>V3=JL+MP\!S*S#Y9VZ4`JRB8$*)A*0I"
MI]`*!0#MUK^HJZEVXJ6XXLK$I&>S#=&2U-)0T4V:5I#;7(`/7C$GR%,\C\Y9
M89IG.W%C>Y]J1-$X@1(K9X=$I$]MP`A.P`#;P#68NL-AY20`,=V'/%\MKRU6
MYDS,NR3MB,5`Y*Y(AN9V+N.1"B\I&1*;+34C(IR+I"8B'<>UL#TRZ+9T=S`R
M3$Q84A%$'*`@(*&$#;@`:GW>MI]-Z-J]55;[R&:5Q"2D*DF2E(3/$$B15T<L
MHMSCB:O4#-H4TSV;K945E)*@1FPZI&!D-F,3(S"MCRM47+F6;U4(1W4,1/91
MM:[&SJ;BO2JX1?N13K,9:CN6Z#APK[^B()G9B<0-W"&W75JM>L*.XUMOM!<;
M5<[FREQAIS*%K2I)5/,D@X`&:O%YXK:NTFBIWZY*E-TU/XZD*)`$Y3R*G,=$
MR(L_3;'@7,&/`KT@>;D\47QBWFFT-8$BS"+#WAOYD?9*K+BE$3]<GF@&`R:Q
MB*F$-R*$,`B`[&L6I*G2=T\YI>UIZE"B%)!"T$SQ!&\'81OZ8QBZV3Z04(2O
MLGFE)!2J10J1Q&W#HV2C$WF/#-6QK9SM:7E2DY0K\@Z?&BU:Z_6<V"*9(B0[
M<EN8E9DCF#\Y%?+_`-7<+$4.F8=B?FAVEIG4K]_H$U%51U%*\$B?:)*4J)WM
MDXD;\0)`@3,<^W6V-VZI+2'FWDXRRF9$OOI83\,6H>0YA(0@$\/SM@\#!T#]
MG67TZP8LQ3A+?%/.(<>H@3]4=O#Y-MOE'5S;D>F*=S$X13[J(,41^:/Y``H;
M!MX";I[=5:.L-T4;B2#C/FCJE(GQW)^QOOX?*'LWU.&)D=D2"3E(WQPU(D-A
M^;L`;AX#X_J_+J:$[HEDD&8CB'C!#_-\/9MU_9\-1A,\"8EYAM&TG?'7JQ0C
MU[>H;[".WRCON&WMU%DD>:)*IGU8X)XHW7YF_7V;A^P(=.HZC"4SQB$C".$I
M$B/^;_E\?RA[!`="D#F$X\)ET1UBT2/_`'?E$.GMWZ:A*98RPCW$]$=:K%CN
M/S=_E`"_+J'+./)C:=D;COX1YK[L_P"=(;;=R>!-OU`#*/ZWMUJ/BJDI30S_
M`,K_``(R;3@`+TMG5]N,W&0?W>77]]<__M1SK\/?>'_3WK7^U5U_GS\?4/2/
M]5+9_(&/S28I#6G8R*&D(:]D8\AI(SEOA'G8?DTRF$Q'C21A#7N4PAKR1A#2
M1A#7N57)"/.P_)KR1A.&P_)IE/)"/&O(]AI"&O9&/(\[:2,(\:`$[(0TD80V
MTD81YV'21A'C3;'L-)&/(:2,(:2,Y;X1YV'3*81XUY'L>=AU[E.R/)QXTD80
MTRF$-,IA#7D>PTA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$2^
MN'^'3GK]'CD-_`^[:_4YZ-W^Y[I?\I<?Z2JHX5XS?I&KNAG\RW'RZ.3W]%;T
MN?T4LK?WO,ZZ[EC6XVF(-Z1['UD/0E_PB>"'\BR7\*;+J8-D4J_&,:M'K9\&
ML[^H5Z\J/'G`D(5S,R7'O"4M<KE*)KEJ&+Z*@M8D)B\7!ZB4118L@5!-JU(/
MO,D\,FV0*)SB)82)F)R%!+<S%VO5CRLY]"/BIBKTSN"%,M%`E>05&E+MF?FE
M(HM&ESR0Z3=J5NWQU7F8XYEV%\<!Y95C@*1*S!NVJ$>`JKBZ2'#`01)9S*W;
MHTK.NXB(B83&,8QC&,<YSG,)CG.<PB<ZASB(F,(B)A'<>NH8FDSC8#_#$?XO
M^&_Y)L^?P!<:]&V);GB1NO?B$!`OHZ<W1$0``HU)W$1V`/\`WNX]]HZB.R)*
M/'$?-=]/_C[DSE-S*X[8?Q#`R5ALLGEN@3,LZC&CAVTI]2K=IBIVT7.QNFQ#
MIQ$'7H6/67476,0ICE*F014.0HPC;%2<`2>2/L`Y,R51,-X^N65<GVB(I>/L
M?UZ3M-OM,Z[28Q4)!Q#8[IZ\=+JF*&X$)VIIEW465,5,A3',4HQQ1@$X#;'Q
MHN163F>;.0>>,RQS$T7&Y:S/E#)<;&J)E158QMXN\W98]JLD78J:Z+.2(50/
M_*;[]=0';%9NE$G>27]#STXOY`.27]]J^Z\CP;3TQYL3-YD+,.4:PVAD&TS*
MR3]DR?-),99C'HMY!9+ND)6.241D%DRJ`"K@XB<QE!`X@(`&L/UI64FFFZ9Q
MY;CJ`PE1FGLU+4I2MB%$9`<9)&``PB_V.J2JD<"T]8J,I&<MFT@8].^)L<`L
MIPN,:CG_`(RV%C-.;MD"[5*QQTH11)M"1$3B^I9$,]6?&=+)O5!EE)E(C9`B
M0;%W.H)=B@.K;[IY>H]6V#7=*ZVF@MU-6`H()6X:MM"`$D=49,I*B29G`<L9
ME;JA**-RC(42IQ*YG<$X2Y<9^M$ML1V=C%T>'8N6;E;R_>MU$3);#WNE#!\T
MX@/@/RZMEVMKK]8IY"@)@>Q&?T%2$TR4D;)^S%^JYD=C$++NXA]8*^L9'L7<
M,#^[B=$#`?L7,DX`BB13!OL<.W</#5J-OKV3-"@#S']:*U;U,X,KJ9CG`B@,
MN9$Q5<G-;F<DW:IR\S3EEG%2EK+&Q2UA@5%@$5R1$LU8'E4$53")C)D4\L3_
M`#MM]QU7T_QSE+774VH2(!P(Y",`?#%`IJT-K[8!M+H.!EB#RC;ZT1SL[KC/
MEM>H_&EC@+)'TVU1]NAF(VA[4C&FHLX"U,JN(-%S)`<`$Q1*8HAT$-75A%SH
MD.)0VKLW6U-K$IS2H2(PV3&\2,4=8BVW%"$NK'44%)(,I*&P[IQ*3D]<:AS#
M;8;=2+EK7YC#>1$,A0;BHS%>DHR:<`@**\=+-RM$ERH'`0$ATC%,41'?<-M6
M2RV^CTPFK3;*<H\\:0VL*4L@);"@C*#L("C/;/"*+XAIG:U-<IY1<#H<W&:A
MR\W1'B"H[::SOQKRC(RK2/@L*Y!5N4XP<,GCI>:9F;I)E91YFB*Y47'F)?G*
M$,38>NVJRVUE/1MU%+5)*FGT!,^21GB-\XG7NW5%<&GJ8@.,J49'?F$MNZ43
M&YRY!A<U<N:QG6@E;C2_X@4*'-%7<(H2S&UL),BA$%8TK=N=9LX9[*%<%WW'
M<I@`0#>Y:KO%#=62FG*RLK;(!&P)00K'9ME+EBP:/L5QM=P4_5I2&LBDS!WD
M@C#DPB87$*RI)XG:-3*@4R;QWW@`@'S3+''H.X"'CK6+S`%Q63R#V(R6YXKG
MRQC1Y*.BJ9^S(HFJ"I5,AV94I^[<3$/(*&*<!#\X!`0'<-9TX@=J9\OM15VY
M1^+V!_DQ[$62Q`RJN-N5./N5+V/FYVT8^JUDJ3*OMY%LSAI&-LL5,1#@[TIF
MIGA'+5&<6.F=%9,?,*3?<H"`SWG7'K2[9U84SQ))'C"8E@=G@(B34T#;]6W6
M@D/MR`GBD@'-(CIW\D7YY"Y/I>5^*?*_!\7"RK"[Y_F)*R528??ZO!UI=X,*
MLI7)=1L$F\>MG"D.`@Z*(!YABB9,H;CK'+;IBT4>H+9J%0"JZVH#:7"E/:%K
M*0I`(V9E27*83/=$^YN5M92NTS>5*'4*!$S+,3,'H`PV$RWQ#'#52F*7C^E5
M23\L9*N5>,AGXM#F6:F=,FH(K"@L)$_,1[@^:(E#</9K*ZYUNIK%U#?BK<F)
M].^*>B0MBC;IURSH;"3+9,#EB#<15UBR#TOE"`F=.S["4?`'"@^&VN\Z.K2*
M-M2MN1/L".8:AO\`UA8WYE>R8J%]73`/0G40`.T"]1Z;F$`\=NNKW0O!PS&R
M+<ZDIQBGW<`)2AVD#\H@`[[=!#;\NK^TL"*):9XQ33J##YP"F`C\@;]!V]H?
M+^358V1N,2'!,DQTAX4?#L`-O';8=O9X?*&VJE.(!PBA,SMCAJP([?F^'Y/R
M_P#4&IR1F,HE9T@2,XX*D`<?`@;?+L(#O^R/MU.2D"()XSCB'@#[C^U[?+T_
MZO9UU%*("H?=&.&>O'$-_+'K\@;_`*WLU[$!5A'!4KYMO]&(>/@7Q_5]FW77
MLO4CS,/%CK5*^8=Q[1'\HA_T=-")=$>!:MDL(Z]6NCM^8/7Y/8`=-0C&(<QY
M)>W&W?\`A2([W!]S<^;V^:G@KK\O:&3/^@#:T_Q8``H9?Y7^!&4:9(/;?X/M
MQF(R#^[RZ_OKG_\`:CG7X>.\/^GO6O\`:JZ_SY^/J-I'^JEL_D#'YI,4AK3L
M9%#2$8'_`%TN67(CBG1..DMQ[R=*8TD+I=+Y&6=S%Q==DSR[")KT.\CFRI;#
M#RZ:)6SER<X"D"9A$W41#8-?43T8_`GA+QRU-JZ@XL65B\TENMU$Y3)<<?;[
M);K[J'%`L.M$YDI2#F*@)8`&-'<:]37W3='0.62H-.MUYP+(2A4P$)('72K8
M3NB_?IC\R+;RLX"2V0KE9C36;L6L\C4V_P`\9O&-GSVPP4.]L53M*T<P:MX]
MN:3@)!F;YJ!$CN&ZNQ>@AK5_?/[O-@X&]Z>GTIIZB\VX;WQRWU="P%.*0BG>
M=13U5,'%J4XKLWT.C%96$.-XXB+QP\U?5ZCT.JMJG,UWIPXAQ4D@E2>LE64`
M`30I.Z1,XQ\>C!SFY7\F9+EHCG7,DUD-+'N$(ZTTTDE"U..""L"SBPD5DD!@
MH"*%=4Y6:0=JWF)_,#YOCOU=Z13NS\"^#-)H-SACIZFM*[MJ5RFJRV]5.=LP
M$L$-J[9]W*`5JQ1E5CMC`>$VM-3WYVY)N]6IX,TR%(FAM.51*YGJH$]@VS$8
MLL'^H+ZQW)"SN:/@W,N2LFW!A`.;.^@:[4L4&?-X%D[8L'<JI[]5F:/NR#V3
M;ICL<3=RI=@\=NW.)7=0]'MP@LJ-2\2].V:S:?=JDTR'WZJYY%/K2M:&ADJ5
MG,I#:U#"4DG&-<V?7'%2_5!I+/5/5%2E&<I2VQ,)!"9XH`E-0&W>(S!>GC-^
ML_*<JZ2QYAH9=:X#<05W):'%IKN,(^&1E1K3T*NJNZK<>A+D63FQ2%("&[#*
M``'W+OK@'O96ST==#P.N55W?56!?%-%31FF335%Q6\6O.$><A*:AQ31!9S!4
MQ,)GEQE&U-!U'%A6I6AJD5'Q-V;N?,A@#-D.3%`S>-*4O#A%LO2WYW<NKSZB
M&0N+O);,DUD&%C(;,]9BH:9A*C%@QN>-+*W%!ZDX@*_$NE'!X2+>D,0QS$,!
MM]MR@.LS[[/=@X!Z9[I=JXU\&].T]IN3U1:*AUYEZJ=STEQIU9D%+[[J0D/.
M,D$`$2E.1E%#PXUIJBIUV_IV_P!2I]I*7T!)0VF2VG!C-*4GQ`K#9ZD=+ZTO
MJ/<H..'+"MXIX\9?E,?5^MXCK%AN,/%PU5E"2UFL4U/2*9G:L_!2KI$X5UJT
M(!$SID[%-]MQWU<?1T=T'@IQ?X%UFN>+6GV+K=:R_P!2Q2.N.U+9:IV&6&SE
M##S22/.%.F:DJ,TRG+")/%W7^HK%J=NVV*J+##=,E2TA+:IK4M9^Z2HCJA.P
MC;&4GU).6]NQ%Z;CKD1ANV'J-ZOT9A4]!LS!O&OG$>OD-_`3+Q9DVEV;^.<'
M-70=D'S$3@!#&,``8`$.)>Y]P%L&O>^"CA)Q#H!7Z9M3UX%=3+4XA*TT"'V4
M!:FEH<2/..R/56F:@`<"0=D\0-55ELX?F^6MSLJQ]+/9K`29=HI"L`H%)FC-
MM!PYXB7PY]0#-&/_`$ILL\X>35ME<S6YGD.SPV-H^9:PD$G)G2>5VD5"O]U=
MB(A-.+=W-RZ7=K]AU@;)J=@[@4-;W[P?=5X=:J[\EB[M/!B@8T[8'+33/7!Q
ME3SQ;!145E4_^/==)=32);0TC,E':*3F$B3&+:3UU=J#AM5:NU`ZJJJP\L-`
MA*`K%#3:>HE(EVF8J.W+,XX",04+RV];'E55\C\B\5WC+:N,L=.GJ]F/B9A4
MJM3*Y]7,R3#^)@J\HW^N;4,%$JD6=$3"3=)H&`RQA$P;]_7'@/Z.#@=>[/PC
MUQ;;`G6=W0A-,+HNJJ:RH[1?9(=>?"NQINV=!0V5>;MJ6"&P`#&J6]3<6=2T
M[]_M[M0:!DG-V*6TH3(!12E)&9S*""?'5*4]L9O?1A]2N[<U*U>\3YQ=1LIF
MK%49%V1K<(QBSBB9!H,FZ"+^LY2*8$1CVMCK\L*2+I1LFF@Z2=(J`F0X*=WS
M5](KW-]-=W*\6S7G#1#S'#F^/.4ZJ1Q:G?,:YM/:=FVZLEQ5.^UF6TEQ2EMJ
M;<1F4G++<_"+B'6ZL9>M5X*576F2%!8`':-DRF0,`I*I!4I`S20`9QG)U\RH
MW9&IGZNWJ`\U<`<YYG#V!\X6"D4TU$Q6[B*K&P5*?-QG[0S<%=JD=S]<D7GF
MR+T4P'O6\LH^':&^OO#W!NZIW<N*O=DIN('%#35)<]0BZ7-#M2X]6(5V%,M.
M4%+%0VB3:,VQ&8[YF.5N*6N-7676:[79JQ35+V+65`0T>LJ8VJ03B9;Y18W(
M7.OUO>#<S5[)R5--?#<_(&:1\;E*DXUG:397#-,KMY!IV;'2+=S&2AF11,!$
MWZ3@I.XY2&`IMMG:2[L?HV.\O;ZVT<'!3?'%*T%..6VLN#-93I4<J'C35ZE)
M<:"Y#,IA2"9)*A,19JO6G%[1[K=1?B?-UJP#K;*FURQRYV9%)(&S,#*>!QC/
M->><,AF/TG\E\SL(/GF.KL3#UAF&9$_<)9_C_(E:ET(2PQB9I!FY82!(V225
M]W460$%VJB:AB`)M@^76FN[32</._59N[MQ):;N^FSJ!AI9.=I%=05#2GF'#
MD6E;9<;*>T2A?4<2M`40)G=E?K1V[<,W]56A18K/-EG<HMN)FE0Q!!DH&4QB
M)&0G*-<?!/-+UMN3:-E7P%DK*V4TJ:I%HVE2M5'$9BPJLT1VI%$>?6%:8CW/
MB1ZPD[>[_1COMKZ\\3N[EZ-S@PY1M\4[-8K(NX!PTPJ*JZ?C@R4!THR5"_$*
MT3G+QA*-`6;5W%W4(<59:A^H#12%Y6Z?JE4RF<T#;(RZ(SC^E/,^J?)Y<R@C
MSY;9*1QZ3'+`]%&[P=`BF!KH-I8$=`R5J#)J]5=_4(J[E5$4NS<0#NVU\TN_
M+;^Y%0Z`LKG=879E:L-X6*WS-ZN=6*/S993G%6M2`CM\LB@!4\-D;DX9O<2'
M+K4C68>%"*<=GG2R!GS;NS`,Y<N$00PWZ@7,6R^L(IQPG,XSLAA$.3V4J*%`
M4@J<G'!4X$]N+$0WU@A7$IOR&(1R':?WKSA\L.XX[COT_P`0^ZIW?+/Z/X<7
M[9IJE:XD?0NVUOGP>JRYYT_YKVKV15069K[1<QV>49L$C"6%VS7&JG^*JK$[
M6*-I%Q?;[/(W+(G/E3FR9L)#&<^4QM<:^%B=L=21IR\]O4(]0FF>H1F?CS@#
M-]LCHE')-;I>-<?PM<H+TYG\]7JR9A"QSB:K+IVLM(3$F;M%=P;YZFW<!=MO
MT)]USNG]T_47=1T[Q9XJ::H'J]5GJ*RX5SU17(&1A^HSO.)9J$I`0TV)Y$#!
M.PG;R+K37.NJ?7%58[+5N!';MH:;2AHF:T(DD%2"22I6\[XJ"`M'XB[XA@"3
M##/01`V"%),^;4L*E2")&5:!*>:=**!0J0,?,[A*/<!=]NNK5=+'Z(T6FJ5;
MW=+?&'FKQ9E57<GM>R5V<@793SY93PGMPB=3U7'4OM]J*KL>T3FZE-XLQ/=R
M3C:DSOD)+$N$,P9166(W_B]Q?>+BFLIV`0CV`K,C(L0'O`R8B=^@F4`,`E$1
MV$-M?#WA=I->N^)M@T4VDK-VO='2$"<RA^I;;7LQP0I1,L9#".G;[7_%=DJK
MC.188<7,_@)*O7E&EGQ7]7SG9(<C^/\`'97Y%3]FQQ-Y9H$'?J^_K=!9LI*M
MV&?8PTL@NYCJHS>M4TDI`5`.DJ0Q.P!WVWU^C+C=W`^[%2<(-55FA=(TM%J^
MFL5<]0OHJ*Y:VZAAA;K2DI<J5H42499*209G".0=,\4=9KU#0HN=<IR@75-I
M<24-":5J"58A`(VSF#NC<XY*9PKG&;!&6<[VQJM(0F+*A)V5:+:JE1<33Y`4
MV<+"-USE.5!6;FG;=J"@E,"?F]X@(!K\[/!OAI=N,W$^Q<,+$M+5RO=P;IPX
MH32RA4UO/*2)%0992XX4S&;+EF)QUSJ&^,:>L51?*@$M,-%<AM)EU4\V94DS
MW$QIZP/,[UH>=,GDO(_'ZQY);U+'HA)3U8PDVJ]9JU/:.$G#^/KS$TH0D[<I
ML(]J90$17?/W!2"?RP`Y2#^@FZ=W;T=?=EH[-H_BK1V=5^NP[-FIO"JFIJ:M
M22E#CZ^R)9I&>T4$Y\C+#9(3G)251R:WJOBMK)Y^OLRWO-V<2A@(2A`.(0,W
M7<5+=-2CR"8$97O1;]4+)W*B>MO&[D=+-+)E.L5I>YT6_>X,868MU>BGK:/L
MM?M$;'H,F*UBKQWR#A)RB@B9=J*H+%\Q'O/PKZ1CN4:*X(6R@XP\(6'*/1-;
M6)I*VA[1;S5*^XA3E._3..%:PP^$+0IM:UA#F0MJRN94[1X0\2+CJ)]W3U_6
MERO;;SMN2"2M((2I*@`!F22#,`3!,\4DG'SSM]0?U#ZKZA>:..G'W-UM9QQ,
MHUZC8PQ["5R@/5#OY^`K0QT'&N9NM.72R\A,29NP5W`_/4V$P!MMU=W8NZAW
M3+[W3M.<7.*VFJ!RL-D?K;C7O5%<@!##]1VCSB6:A*0EMIL3R-C!.PG;@.LM
M<Z[8UQ56*R5;@2:A#;326VB2I:$22"I!))4=YWQ4U:M'XBH;-6R3C'/00AK%
M!%FQ5J6%BHA#C*M"RHK'1B@5*D#`5.X2"!@+OMUVU9KQ8_1'ILU8NVNZ6^,1
M2/%F55=Y]KV2NRD"[*>?+*>$]N$5%-5<=#4M]L*KL.T3FZE-XN83W3V3C;X-
MXCMX:^`.._;'68V1ZZ1[#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA
M#2$2^N'^'3GK]'CD-_`^[:_4YZ-W^Y[I?\I<?Z2JHX5XS?I&KNAG\RW'RZ.3
MW]%;TN?T4LK?WO,ZZ[EC6XVF(-Z1['UD/0E_PB>"'\BR7\*;+J8-D4J_&,5D
MISLXCT+U/U^"(UH];Y09EPS$Y-F<D+0T;'Q5U&K-W9*3C-2Q**A+34^TIK:7
MDF:':#)LD@L1,3.7!RZ<T,IRYMT6W];CTZFGJ-<(;I0ZW&MEL\8K%WE3C])'
M(0KE6[0C!8)&CBY$HG3C<DP0*Q:A>XJ97AVK@^_NY=>$3CU"LJN:/E&NVCQ@
M[=Q\@S=1TC'NG+"1CGR"C5]'R#)=1J^8/6JQ2JMGC)TD=)5,P`8BA1*(`(#J
M"*HQG[_#$?XO^&_Y)L^?P!<:]&V);GB1OU>JUFRD\=/3\Y(YHR-A"G\D*51:
MU6W\]A._+-$*C?&[^^U2&0832S^!L[0B#!Y(IO2"=@X#S6Q-@`=C%CB0@34!
M.4:O/!_\3KPPQC>XNDV'TXZ#PYQC:WS&*G\C<>GE0DD:^DHJ":,S<ZM$8RQ[
M*3,"P64!1RJW<.G3=$#*$06,'8,(,35-D[YF,TOJG^CXY]4;&2<Y0.;><*LN
M_9-;GC^B3-N;V[BI9%7C)*1KCN0HL%&Q3U-H[252.VED73]5LF<%4T%A^:?T
MB<0(7D.P1\U#/>"LH<9<RY%P'FFM+5'*&++([J]N@U%2.D$WB!$G#60BWZ0`
MA*P4W&N$7K!VE^UNF:Z:A>AM@@.$5,P1,;(E'R2_H>>G%_(!R2_OM7W2(1M/
M3'+E^1L8;/#$(6!"I(05^F2.%8Y!*2>S`^_+ME%GBBZ+9BLPE%R;N&A4"HFZ
M_-[@*.M0:PTW7/+K55[RGG7&@!G,@@)GE"1,D%(P2K-,XXXD1?+?<$IR+92$
M().`QGAC/#><=F$=SAR+2C^3"5QF5'4U`F>R:ZJ*4H9*8E0L$;,(.UC(`D^7
M*FT;^<N*2A#@0B("<H%Z!,M5R;?M3=&$Y*A+1!`3-(R`#JG`;QR3,\8OU!5-
M//(602,)X\A$YG$^S&;_`!Q/<><9TEPA?<-2&;*Q9RPSJ`M4=D25K!:6NX7D
M$'=>EY2I+MY#ZR(L!/.,LW;(K[$,W()#"(T+S274]M3H*E2QQW\^X>O&5)76
MJ=+)>#2)X"0Q'*)XGPQ>6:A.!CAI(Q:6.LLPJ3@@BY1@<OSS\4Q#N$0%.T,)
M<#$W-X&'J'CK$DW&K6J;M+(`[0L>VF,B-J6D315)42/ND'VE1;!CPWX69$9*
M.&%XS[3>\#BW3>MJ99")E.("!MB1$2<X``;`(F`0`1U7)O;*.J\VM/@!]N)!
ML]:>LTIE?A4GVC%$RGIP\>44S_4W*MZS,81,DE;L/N54RFWW`%E8BR@(=H#L
M(E)U^3;IJI^.Z)S'M5)PV95>U.*<VVYH,BPE0Y0L>W*+>J>G!'G<`I6^2.`Y
M543[)C)%O%.=G`.X"`<%8%^B4X]P[[J"&_M\-1BZ4IP#R92WS'LB)2J2M29F
MG<S<V4^P8E!@C@3?:;.-7DW(X^R=!)B(_4<#G9!LS>E4[!-VHN9FKOD5"%`>
MT0#YHB'3VA.I:VTN/=I5EEQ.R75]7#&+3<F+R&"W1=NTLXA4E3]L1)[(_"VQ
MRT:'\6=!RY1)LJ1E"NH:Q-<K0(G^=LF[8.I&P*"TV)N!T5TS%`_7?80U<WZ3
M2U:W*GR-NCG,CTCW#%CI+EJ^@='GBNV8/*`#T@R'J$1;+"]QSYA&8:XQR=AG
M),LUDY9*-B+C6*1/';N7;QR1%N$A'>XD21\U10-SI&)VC_\`5^W6%7+3*G'C
M4TJT&8V9A(]!V^KZL9<U<T538[=)"^C'U/<BG\X8VRO:,J9,>U'#^5+8M\1O
M'ZR,/1IH002?`@Z;"Z?/V[*,:*+(N"&[3KE.4#?.`-A`+PFVU#KBU92$`[3%
M93W.C8I&D*6,^0"0.^+`.>/W+)50/?:C0<2,#AW'D,EY*K(R;5+;_2+04&^E
M'#98-_S#$5$!\0U5"CH6I%YP$\DY#W?6@:]]TD,(5+ED3^M'>5;B^WD5GQ[]
MR^A2+M&OO#R-Q_"V.U/2HJ.$&QB,BJGJL<4B2RY>H`(%)N(CV@(Z\RT)!*"D
MA"22`E2B0.F4SCLG$"E5Y(ZB^L934H`3/1.7J11:^!<<PV2+`RJO)BXQK]DB
MV;*&N-5?L6IB$(4Q57#N)GI5B45?.[A[R&`N_B(ZC+U"NE29`(GO1[DXIW*:
MX-NE8_C"!XJY@>K*./#<5+.><4&#ON'[RT5*X42".MZ,;**IF#N(;W>2;-$3
M*&$=Q#N$=];"IN*MSI:5++I9>"9#$%!PY\-W*(PM[1M,X\IU276R9[.L,>;'
MV8LGES"W)"L2*Z=7PLI8F"0;%D(M^C/HC_Y0_;`KKD#M]@&,01V\-9;;N,A0
MU)MAI+A^^65>P!%@K-%+SX.%3>Z0D?7G$3V=2Y27VT*TZ%JJ=0D6Q//F)*RU
MY6MP%=8&5\H7TA+3J;H5BD-T*DV(NX6-T33$=5-3Q?O79]HAUAIOD2@$G]L3
M$#&C&%.Y`A:U\ZL/6E$[\7<9\<4V.=,<D6";RU9;#&.6<C;EE_J6'K:ABD.=
M6BUQ@<K=DJV5V$CI\+ERJ!1`03(8R>L17Q<UG\8-5C-2OL&E@]FJ658WA0``
MD?5&W:(RE&A;'YHMEY`+RTRS#:D\J2=\]\1UO^')2A3RD<Y.G)QK@IW4#/MR
M=C.:C0,':H!0$WNT@V`0*X;B.Z9^H;D,41ZWT9K2UZSM*;A0G*^F0=:)ZS:N
M3G2?N5;QS@QHZ_V*KL%::6J$T$S2O<L>Z-XY>:*!^'TQ`-B%$=QWV*/ZX?K[
M:S%+H)VSC'EID);C'J6L]P]43=/_``].GB.X!J>%IYXICFW'9'XK0,<@43.G
M;!KMU$73MJWV#;VBLH3;]?4*JFG1_&N(3TJ`]DP"'%>*E1)Y`3%-+.Z$@X;L
M5;C5`?O'"#-FQ2G(YP]=/'*I&[9JV:-G"SEPZ<+J%(1,A1,8Y@``$1#5N?U#
M8J43J*VE1(;W4>'?%0BWU[L@AEY1_8J]R*JD,=/&+MTQ?,G#-ZR66:O&;I!1
MNY:NVZADUV[ENJ4BJ*Z"I!*<I@`Q1`0$-7-FI9?;2\RI*V5I!2H&8((F""-Q
M&(BB=2MIPMN`A:3(@X$'D/1'3GH2NPCY)A^4-AW#]3\NHE+`B5,G$3G*.H<T
MA4-_VD=@Z_F;A[/$?U->I4G`@XQ+4X1A&U%^&)A3Q#SF1WE[?>"86VZ;;]@9
M%_('AWZT_P`6)2H9?Y7^!&6:5,^VGMZO\*,GV0?W>77]]<__`+4<Z_#QWA_T
M]ZU_M5=?Y\_'U+TC_52V?R!C\TF*0UIV,BAI"-9;\2MTQIQ,$?9D/)O\%8#7
MV>]#>)ZQUV!M^*;=_.7XYQ[PW^P6O^4._O$Q`/T6<TS6#LY9KXY74%XB*Y&\
M?9J;@6+Q0B:(W*#QU)7RDR"&X]AQL]!FGA$^T=U#"D7Q``UU7Z1CAS;N)?#/
M3?%W3F5^NTAJQEE]:`2?-'J]NBK$*Y/-JYEHJGXH#AV$F,"X3W6HL]WJ[!4@
MI;KZ/,E)P&=+9<0<?OFE*(Y2$]$7(_#U?^UN<WZ.$3_^*M6L-]+%_L/#+^V#
MO[VEBLX'_P`?=OY&CV7(BUZ)/(W"7&'E5;L@YZR#%XVILE@JSU5C/2[.9?-G
M-A?VVC2+.+(E!QLJ[*LNRBG"@&,F"8`D("8!$`'=OI).$7$GC3P.H-*<+;2_
M>-0LZGIJE;#2V4*2PBEK6UN$O.-(DE;K:9!15-0D)3(L'"#4%GTWJ1VOO;Z:
M>D51J0%*"B"HN-*`ZH)V)4?!&YSQZY;<=.5C.TR/'G*D+DYG27D6PM+B&86!
M@6&>3*#IS%H+A/1$2=4SQ!DJ8HI`H``0>X0';?\`.SQ9X#\7N!E10TG%FQU%
MEJ+DVXNF2ZMA9>0R4I<*>P==`"2M(.;*3/"<=>6'5-@U0AU=CJ$U"&2`N04)
M%0)`.9(V@'9R1JT7)J7C/^(=AG_5C#WC/-;F2''=-)2.Y"T<(E[VCT3%+X@L
MZY?D`Q?8(:^WNGGU<9?1,5%+@Y<+9I:H9(VD.6*L[5'//L*9!YP>0QS/5I.G
M^.:5`R2_6),]W^M-Y3X,ZS.(2^ITM8L_\_><EP@4??HC##LC>:4`QCE9U/&Z
M]'Q(NND)2CT^)I0@]H[;`H8?9KI'N7M6GA7W5N&>G[HKLKAJ)LJ9$I9ZFX"L
MNB0?^KMG$;2E/+&(<0S4WW6UXJFA-%)(*YDM=FP?W9]>);<V.0(7?T5?3FJY
MG@JR$K<9>O3)._<QT^/L59Z<'F;"/SDPEV)@`1V*!]MODT-W<.%)TWZ1KB[>
MPWEI&+<T^R9;#?7::KPZ>R>'.1.,FU;??/.$UBIBJ:UNR5_U9+C7D'PQDWG.
M'EQR!Z!V/,*T>)5?9#:XGIF=(N`:D_UVQ2YK6IEJ2A6J0!W+RLG!2ZZ39,?G
MJ.`33#81#;C"V]X/3ND_2EW;B+J5]+6DG+[5V5Q]1ZC#7FHM;;RCL2TV^TA3
MBMB6\ZSA.-BOZ3K*[@JQ:J1)57"F;?2D;5DK%01SJ(4H`;S(1!?T-?42Q=AJ
M)G^&N>G3"G5V]721GL;WF9`K.`3LUH:,X6QT&\.''EDATY9:/2%B[7[$"KG5
M;KF)W)#KIKTF'=)UOQ#KJ7O#<+4.W"[VRW-L7"B9Z[YIZ9:WJ>NHTIF72T%J
M#S2)K*`AUL*DL1AO!O7EMM+:])WK*W3//%3;BL$YUR"FUD^+,@92<)DI)&$;
M/V)>+G'#`CQS)86P=C#&$J]8&BWDQ3*C$Q$R]BU5T79X]U-((#)NH]1R@FKY
M1UC)B<A3;;@`Z^*>ON-O&'BE3HHN(^IKU>J%MT.(9JZIUUE#@24AQ+*E=FE8
M2I2<P2%2)$\3'2-HTUIZR*+MGI*=AQ29%2&TI44S!D5``D3`,B=HB^^M6Q?X
MT?\`UOCD2]4LBJIR)I)57CNJJHH8I$TTDU@.HHH<P@4B:9"B)A$0``#<=?I9
M]&JE2^Y%D0"5JKK\``)DDB0``Q))P`&V.+^,$AQ(F=@13?OC&5?\0%R"P;8N
M(M6Q=6\E4*YY!L&9JA9(B!JEFA+-)1T%6HVQ_7<\]+#.WPQ;$0D$VI#JBF*Z
MB_:3N[3]O#?HJ>%/$VT<>Z[6MYLUTMVDZ33M53NOU-,]3-N/5#E/V+".U0CM
M5]13I"0K(E$U2FF>S.-U^LM3I5JW4U0R[7+JFU!*5!1"4A691D3(">7&4\V$
M\8L9Q.KTW!_AXN3SV7161:VI#.5EKOF]X`O!'FZM!$<H@?P;JRT"[[1#YIMA
M$/'6S..]VMUS]+1HJGH%)4_0JLU._*6#X9J7BDR^Z#3S4YXC8=D6/35.^QP.
MN#CH(0[YPI'.G%/[Y*HCKZ$_,7C/Q2C.2R/(7+<'C!6\2&,%JJG,QUC?C-)0
M;2WIRQVXP,++%2!D>20`WFBF(^8';OL.VW?2<]WSC+QSK-&N<)K#4WI%M:N(
MJBTY3H[$O*I2T%=N\U//V:Y9<WBF<L)V3@MJS3NF&[@+[4HIR\MDHS!1S!*7
M,Q&5)V3&WEC;'P5R`P[R6I*>2\&7N-R+11G)&O!8HII+LFGUU#^[#)L/)FHZ
M,>^:T!VGW#Y78/>&PCUU\(^)_"OB'P;U(=&\3K8]:-3>;-O^;NJ:6KL7<W9K
MFRXXB2LJI#-/#$".H;-?K1J.@-PLKR7Z/,I.8`@9D[1U@#AT1IP<?_\`'R5_
M3*S3_P"<O>OT+<5O_:U'_IW:/^Q1R39_TUK_`/-:G_E(W?M?FI3MCL^-%;F5
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M1))$SB0,8ZCLW$#1]]K46JU5K;U>M)(0$K!(2)G:D#`<\6$]:'(A,>>G'R`$
MKCR'U\;U+&4=L?M,JK;[9$IR*1>H=W=`LGG<'7<@#K:/HZ-)*U;WOM*YDYZ:
MUJJKBYO`%+2NELGH?6U+GE%FXP5XH=!UB09./!+:>E:T@C]H51IOY2PFOCKA
M;PUY%,4#-I;*&0^13=1V4ABB<]!LE12J:O?T$PE^JW@DV$-NP=O'7Z%]$\2&
MM6]XOB'PDJE!=#9+385!!.P5U/5&I$MT^T:GRS$]D<FW*T>8:2M-];P?J7ZJ
M9_)K0&S^Y5+H,;LO)^BR_./TV+E`442+V7-_'VHW>G(&5*!9"RC&5W(,1#F5
M$P)E4E9)@#+N,/:517<>@:_-[P5U+;^[/WQ+?==3`HLVFM5U5'5F1ZE/VC]"
MZ]+:0TVYVTAB4ID!,QU_J.C?UCP\=9HR#45=$EQ'.HA+J4SYR`)[!.9C7%]$
MSU!J7P_N]^XV\@2J42EY/N;.08W280.P3QOD^(;?#,A"WM%8A7,9"RY6B+=1
MRH&T8\;_`+<!45%%$_KWZ2#NHZC[P&F[7QAX4D734=EMRT+HVB%FX6UU7G"'
MJ(@Y7'FLREI;3C4-.?BYN(0E>@.$6N*32U:]8+Z.RHZAWQU8=F[+(I+D_%"L
MH$S@E0ZT@2I.UYB_BSQ@Q-/FOV(L&XDI=HE4Y!X%WJ53A$)]\VLHB[DE6]F0
M15D%&,V"_F*`FOY*Q3`.PAMKX5ZVXX<;-=VP:5U_J:_7&R,%"?,ZJJ>4PA5/
MU&PJG)"`MG+E3F1G00=AG'3]KTSIJW/>?VJDIFWU3/:(;0%'-B9*`GCOQC3A
MY8W&L8[]<NQ7^ZRZ%?IU*Y:8@M-JG72;E9M#5^#;4&1EI-PDS0<NU463)`ZA
MBI)J*"!?FE$>FOT*<"=/7K5OHSJ32NFZ=55J&Y:#NM-3,I*0IU]Y5<VTVDK*
M4`K6H)!4I*03B0,8Y)U%5TU!QB-=6+#=(S<J=:U&<DI2&BHF0)P`G@"8VTL,
M^HKPJY$9#CL5X5S_`%>_Y!F64O)Q=8C(BX,WCQA!LSR$LY37F*W&L"D9,DS*
M&`RI3"`;%`1Z:^#W$7ND=X_A)I1[7'$72M;:M)T[C3;E2X[2+0A;RPVTDAJH
M<7-:R$B22`=I`CJ2S<0-(7ZM1;+36MO5RTDA`"P2$B:MJ0,!CMB:&N<29XF,
MTAKR$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(1+ZX?X=.>OT>.
M0W\#[MK]3GHW?[GNE_REQ_I*JCA7C-^D:NZ&?S+<?+HY/?T5O2Y_12RM_>\S
MKKN6-;C:8@WI'L?60]"7_")X(?R+)?PILNI@V12K\8QIN?B3\E7?#/K4P67<
M:3CFM9"QEBKCM>J7/-#F(M&62LOK!*1;@>T0\UL9PW`BZ0_-60.=,P"4PAJ%
M6V)S>*)'9&][Z?/,ND<^N(^'N3U(%LT^.Z\FA<ZVBN59:DY(@Q^J[W3G8>8J
MJF:&L""H-Q4$#KLCH+[=JI=11)4G*J4:)WXG/TWQXM<JF_+?&L%[IA#EG+2#
M^RHL&X)QU+Y`-T#R%L8'*E\QHSR1'IFFVNX%`[\DB4O0I0U"1OB>VH*3([1%
MB?PQ'^+_`(;_`))L^?P!<:\&V#GB1NO?B#_\'7FY^\:D_P#]NX]U$=D24>.(
M^4Z(`("4=A`0$!`=MA`0Z@._00$-0158Q];CT5)2U3/I1\#G]S%V:=-QZI[;
MO?&4.Y5A(_WR/JRQSJAYAR+59JS,01WW((#N/CJ,;(I%^,8T<_Q2JU55]6:V
MDKX-_KEO@7":-Y,W[.X;(,?/+L`>=O47I:>M&;B;YWD>4'@`:\5$]N>3PQC4
MY)?T//3B_D`Y)?WVK[J&(AM/3$>K5&*Q62K'&2,98V+%#($^U7-.0,@S76?M
MI9P9RU1*+-&01>-W"9B&`NX>64VPB`CK7-TKWKHXY6NJ9-4IO'(K`#8#(J(D
M1(].Z*@)\W6$-YTL`F1(Y?!MW1)]ZA(.:,\M#%NTK,U#O@E&3M6,=%4;,X^$
MEHY^T'N!`%!>-5!!0R?<;YH`(`4!#6$6ZH317="0I3K:T9,LQM60`9SE@<9'
MGE%73U#K3HRR!"L9#GYS+UO:C(MQ1A29&H]BD44_>W#W$PB1%JFM\YX25K0@
MW*U$%#"+=0!`H#N)>FVK\ZXJD6XVG;+VQ&TV,M2VTXHC:.;<8VH:QZ7N/LC0
MT3D!2>/5'J\:HVFJ^XKCMV,F=HQ27*";I,R:<:[_`&LW<91)0J@`)0`!ZA'2
MVAARF?=4<A2,`022>:)=7?7:6I:IP.U"R"5!29)!,MF^41.MM!P%1,@3N+Y+
M,>-JW;ZTZ)&/(B5?OX]0JQV:3Q%,P?4P)B)FCA,_S1,4.[Y=]8?>;?34C?:"
MH80I.T+7+V1%_M=;<JAP*335#M.H]4H1F/(=AW<T17R/2:@+E<L-ES"[_8YB
ME`N2J\R4,/7H"4HM'J`/ZH!K%T/,YNJXRK]BM)]O&,E(J#_&4]2C]DTL>K(1
M:=KB>;DCA]66/'4C\X!3%EDVC+"/LV*!)_<=_D\=#4-C;(CI'NQ+4J0.9+@Z
M4+'\&*XHF,;W-N7)*Z@G+GC''NKOZKGHQSY#G8VQ`\M\(*=P$'82=Q1V\=4C
MRFL#+;$0>0!UE2Z01[47T88CSNUL\8L,/<(]L=J0H';F=F*93N`.T3-5#!V_
MEWU5T3+;B2F1"SLP(]>)+M:P!,K;*!RD'V8FX;BGR(>U-*VUV;O7UBS1\]2#
M3?RR#E\R*GWN?<$!6(5=TBEN8I/$PAL'7IJ[.:5OU13^<4G:@C8)J!_7BV)U
M/I]I_P`WJ0T4G:9)(\,4/%\4>0BD/)V.W7J].(TIUUF<;(S$PF[(FX.H8C=Y
M'N'"9T#M.A!*<@"0VX#\FJZFL=\=4452G`&P$D%2MN^8B!V]6)N0I&VLR\0<
MJ=FX@Q'N.PY&,LIFB[W&)V:/=0#U9-&<\]9ND_3?19`6[`63[E@(J8/G"("4
M1Z:D7BG71TH0DE"\\B09&4COV[8EFN4X`MH[3S>Q%[;+2;A6I5ZZI&$^-3#$
MK=S1Z<ZL+>&E&&5D5[@TC(QW)D.T6&,=>7(NU3$\P`W``[BC[;:V6D.M!3>9
MU*6U9\QGUB$A4LT_&Z1X(M"*AQVH[)QYV:E+(20,LD&>79R177$_"6*&=MS+
M/S\U729%13;0S*KECDY-.8K,O.1FR4Q'O4#LVJJ"[8/*,&_<F8?F]-79UJGJ
MJ-\O/+96AS\6D89U%64B8W`8Q-K7ZI%4PTRV%L*3-2R?%DG`\N)B7<UP[PL]
M<+R[NCXGCG"40]?`[F*S&-R+G20$XQS11BU17*\=F-VI@`AN/0.NK3366J2Z
MX!7=D@-*7^,.9)($PD!0.)W2B<]<5-,)46E.DN)2<@D0"?&)GL&^()RG&'"5
MQ7G#P&'I&AL(VJ9,E']JI-QR+$-B6*H55_,1;8@KV5S$(.'#Q-)51L+;8R7<
M!1#H.K#;KFY4W-FVO.*+[F90&42(0)JQW'P165ZET;96DA2.I@93`6J6R4R-
MTY[8UU+5G#G+?(#'&%L6PE/1->GSMOCF93G()QD?)*<(D=[9B2C:V6)=JW8-
M3.#$-_JB)UP0*1(QC`8!VG0,V.F:-36+65I2KM!-65)V@"6\[L91B-S>N2:W
ML:8`9SU)`34`.MZG1%%Y1LW+-Q:FC'CMC&:RS'PT8K&7-C!T66L<E$V*'=*,
MGSN46JCEJ*17IB;[H(`W`Q?F[=VP6C0M?27*E?%]?2W5]IVC<U!(+2P)!(5C
M))PZQ)$\3%"U=[H]_%-I4M,PH9<1+#&1GC+FB(V9,L>HI,)Q-(7PQD6AMSNT
MBF81^&KDM,/I5<P%:G82,_#2*S0YP$$P2;=IC@8>X3`.P;>TW=*;3E0NLL]=
MEJ%ID2'$RRG<4[#TD1:KRW57=M+%?3CLDF8ZIG/F.T>"(:.AYFV-TLR(WSTZ
M%-91)PA'U2WM.Q1(XD52,$;"(=IR'`2F`>H"&LM?U]=W$?C;DY+F<2/WLHQ]
MO3=(D]6DQYTD^S':MN/W,>;(5P.+>14PFI^89Q6;ZHFIOMN(BY0(F/CX:Q^H
MU<X\3VUP4H'E>5C^ZBM18EHP;I9=#?ZT=NPX9<QIUP5LAQUR^[<*"(D*ZKCQ
MN8WM`QCR2R.P;#[?;XZMZ[[;99G:ILCG7/VXJ1:+@1)#"QT)C,/P!]/IS@E)
M#/>>Z9:D<OID=JT2K/*=,R,#BQ(GFH$LDK)1[&1BWMZ<E()VXE.9&+0,!B"9
MP;N2QZ]WOSM'FMN4@L'QE!0F>88@@1D-GM+5.OSBX`A\>*D@R!Y3A+#<(EIR
M&<8L>IN,OR%DC8Y=PY9Q5\2!!VHX&85`C6,LAXYNV4D"!+@4$72@I`4'!2F,
M("IUW1PKXEIM=G-CU`X4-T^+*U3/4/W&_P`4XIYC+=&O]>:/\\N`NEG2%EW!
M:4D8*'W6[;L/J\L1//DK`R<._F?BIVLRCU12<KMZQ9%"IJ@4!!+<\8F7N$!Z
M:V2[Q7TPAU+0J9J.P!"S_!C"4:(O:D%89ZH.]21[<7$BJ&QLD%&6.-:/THV:
M9(23$LC'N(YX9FZ(55LJLQ<D*X;BNB('*4P`/88!'QUD=MUG:[I3BIH7`MF9
M3LD0H;009$18:VPUMO?["J1E=D#+;@=A'+&QE^'YJQ:V\Y2]I.SWLF*-Q[=N
M[R0O/Y`WV\S6$<0+BBN%*$&81G]?+%XTZPI@O!6_+[<3`R#^[RZ_OKG_`/:C
MG7XE.\/^GO6O]JKK_/GX^H6D?ZJ6S^0,?FDQ2&M.QD4-(1K*?B6/_P!,>)W\
MH63OX*0&OL_Z&[^N6N__`"JW?SE^.<>\/_L%L_+N_O$QC:Y\8NL.$\7>E[S2
MQWW0\C:^+^):A,RS5+8B-_QS38YU!.GHD$OFGL%)E3M#@;_2(QQBZ[&[K>MK
M1Q'UMQK[N>K95%)0ZUNE4TTHXFAKZM:7DHGL#%8TET$>*NH!C76M:"HM-OT[
MJVAZCB[=3ME0_P`8TTDH*OV2%*3SA$7X_#X@`3G.L``"@''.,``#P`/?+7T#
M\@:U;Z5W&V\,2?K>[^]I8NW!'_:+O_)$>RY$#?2;X:XMYQ\B;)B/+DM<X:M0
MN()^^-'5%DXV)ESS$39:C#MD%W,I$33<S`S6>6$Y`2`XG*00,``(#U%W[>\/
MK;NT<)*/7V@F+=47FIU`Q1*36MN.M!IVGJG5$):=94%A3"`"5$2*L"2",/X8
MZ2MNLK\Y:[HIU-.BE4X"VH)5F"VTXDI5A)9W;91N2<(_3\PMP(BLBQ&&YS(4
MVVR;)UZ6GSW^8B)=9NYK;.19,21AHF"@RH(J)2:@J@<J@F,!=A#8=_SS=Y3O
M7<1>]+6VBOXA4MJIGK*R^TP*%IUH*34+;6OM.U?>*B"VG*04R$Y@[NM]&Z$M
M.B&ZAJU+?6FH4E2NT4E6*`0)20F7C&>V-?KU_(-YB3FMQ4Y'P[?9=[4()[WI
M_M0NK#A/(B,Z@DHL7;M.M&3[5,!'KVE'V!T^KGHKKE3Z\[N.N.$%P7^*;N#R
M)''*Q>*`L*('('&'%<DR-YC1'&YE5JUA;K\RG$M@SV36PZ%[><+`BV7IBXC?
M<LJ7ZNV49IJ9U-Y+P[;H&-45("A@M>1)BXY7,F4VQO\`6$)*K1P;DW-^H.V^
M9]]#7M+P)U%P#T3;G,EMLVH:5]P`R'FU`U26P']BINI?P.'KQ;.'UK<U/3:G
MN;N+E13+2-\UO%UV7@6EOV8PT#D&R90Q?@/CCY:ZC.GY'O:]=)W";S'^<).A
M,5VA40^<0S1_!'-X;B+DWZWT.^BEGT5K75/%W,@5%PM%$E\\B+,W7+"IG#K(
M>`_S8C5/G]1<K;0Z?D2EJH<*.FI+0(\!2?5,?2KJ=>CZ#3:M4VIT6D52:O7Z
MRV454301;LJY$LHAN)U#F(FF4J3,O41`-?CDOMTJ]5:CK;\^%.5MQKGZA0`*
MBI=0ZMU4@)DXK,?0>B99H;>U3)/XAMM*1^Q`D/6C7>]5OTB*3FR`O'*_B2WA
MVV36*,M9,F8XKCABZJF5$XQ-9Q8INL%8'5:0^2&R:)U'#9,0;RIR&`Q4W0]Z
MOUK[C/?ZU'PWNULX$\>5U"]&NJ:I[=<*A*TU-M+A`IV:DK`4[;U$A+;BIKI@
M005L#*C0G$SA;1W:G>U/I?**\34ZTF65Z7C%/([AT.'`]?K'W]`SGG=LQP5K
MXE9:FWEGG<6U5M;L3VN7<J.IMWC]!^UAY:ER[QR<SJ1/473YJ=@JIW+%8K&1
M.(E03U+]*;W7=-</KE0\>=!TS=%;;W7*I;I3-)"645Q0IUJK:0D96Q5)0XE]
M*9)+R`XD`NJB/@AK:MNC3FF+HLN.T[86RM1FHMS"2@DXJ*"4Y=^4R/BB-D+7
MQZCH>-&_UU(X)CU-)2&,KY!9G'^"H<S@"`H+<)5NLP%<$Q$H*"B#CN[=P[MM
MMPU^F3T8U6;?W,6+@$YC3W6].Y9RS=FI*\L\93RRG(RGLCBSC(CM>(BFIRSL
ML)GR9BH3]>(V<\.#,7Z=O)G'F.+E/N\MXOL,+4<@N9M&*-27]DJZ=G<15ZK1
M$HZ1DE(Y^S2C%4R+I.!4`KE,X`41#6XN[!WF:WO;<&;MJ_3U*W8=:TE354*6
M2[YXBGJ33)<HJ@E;;8<0LN)44*;RS;6F9$XL&LM'-:%U!3T%6LU-O<0ATF79
MJ4C.4N(ZI5(R&!!G)0,;>//&!QW6/2CS[`XCB(F!Q='\:$RX^B()(J,0RJ3A
M&$=P9610,<3IJL7!%#*&,=14YS'.8QS&,/P*[L-TU=>N_1I6YZ^J*BJUL[K$
MFN=?,W5U22\E[/R$+24A(`2D`)2`D`#J36K-!3\,JMFUI0BWBA/9A(DG)DZL
MN8C'E.TDF-:;T@/3EP;SX89Z<YEG\D0BF,'N/VU?"@3<-#D<$M+6SK2(RGUM
M7YP5S)&ADO*\ORP*!C;[[AM]D._]WN^)G=:JM+L\/:6SU*+TW7*?\^9>=RFF
M53AOL^R?9RS#JLT\TY"4L9\^\*M`V?6Z*U5U6^@TRF@GLU)3,+"R9S0J?BB6
MS?&W7P]XD8UX4XC3PIBB4MTO4RVV=N`.[M(Q\I-_6=C]P*^2]ZC(J':^YIA'
MD\LOD]Q=QW,/L^!?>#X]ZQ[Q^OCQ'URQ04]]\P8I,E&VXVSV=/GR'*XZZK.>
MT.8YY'"0$=3Z5TI;]'V@VFVJ=53YU+FXH*5-6W$)2)8<D:D/'_\`Q\E?TRLT
M_P#G+WK[U\5O_:U'_IW:/^Q1RQ9_TUK_`/-:G_E(W?M?FI3MCL^-#_G5C^%R
MQZSV0\761>0:U[(W)'%M(G',0LBWE6\39HJBQ#]:-<.$'2"#Y-LZ,*1SIJ%*
M<`$2B'37Z@N['JNXZ$]';:-;6=+2[M:-'W*L92Z"II3M.Y6NH#B4E*B@J2`H
M!221.1!QCB'5]"S=.++MMJ2H4]17,-J*<%!*T-))!,P#(X8&-F'BOZ.7%[A[
MG"OYYQA:\R2EPJ\;9X>.97"RUN3@%6MIAW,%('=,XZHQ+M19-FZ,9(2KE`JF
MPB`ATU\:>.'I"N-7>`X;5?"_6E#IYC3]:]3.N+I*>H;?"J9U+S82IRJ=0`5I
M`4"@S3,"1QCHK2_"73FE[LU?+>Y5*JVTJ`"UI*>NF1F`VD[#AC$(/Q(N1C1.
M`^/.*4%@*I>\KSMR?(@;8QX_'M8%D@)R?YR7UG<TQ_(<@:Z6]#[I!-=Q2U9K
MIQ,TVRQ,4B%2V.5]3G5(\O9T:AT*,8=W@;@6K-0VP'!ZI*R.9I!'J3<$84>1
M?,GCYE7TY>)_$BG5#(T;E;CW--)F:LTY%5QO39-:7C;06\!$/6-@>S"II&7F
MFZJ(JLT?,(@/?VCL&OH]PC[O7%?0W>[UWQYU!<+0]H;5E,IEFG9=J%5;8:<I
MO,^U0MA#0R-,K2L)=7E*^K,3C3E]U78[EH6W::I6J@7.B6DE:DI"#-*^T`(6
M5&:US$TCGC:W]';(_P#&+Z<?'&0<O`6>4R!L.-Y-954H>0:A6F8AF!%3F$"I
M%2@DVFVX]";#KX8^D&T>=)=[W5])3ME-/<:IBX-I`V^?4S3RR!O)?+L^4SCI
MWA-<4UV@J%2U36TVIM4]W9J4@#]JE,1(]4/TD\?<NXFW<A>-)X")Y&1B#MS9
MH2#=L%ZGFEU%M2J.(J7*Q45;0N3#-"E(W>AV@\.)$GA1$Y7!-]]RGOXZKX!U
MU!PGXQBJ?X1/*0FG>?2L55H2ZHA+K6<!3UNS3+C)F60%+IU`)+2L5XC\,:'5
M#3M_T[D3>DSSI3+(^0,0K[UR6Q>\X+F#F3$ST"^=-_D+=+<%LM2<G,L(RN3M
MCPN[G3KJS=16J:I!M^,G*CD3.1AT&:AWC!%01,Q4;+H%_:SID3WMZ4WNQZ4I
M+"QWF]",L4]6]5LT]W2R$AFJ%4#YK<4A/5[4K"6GUI$GDN-.'KI4I>,\$=:5
MQK%:-N:E+;"%*8*IE2,A`6T9XR`.9,_%RJ3LR@8XN:F.(+,7K57W$MH<232M
M9-Y/XOHD^ZAET6TNWA[3&T6'D5HMRY;NVZ#]-JZ,*1SI*$*<`$2B'377G=RU
M?<^'WHX[7KRRH97>++HJY5K"705-*=IG*UUL.)2I*E(*D@*"5))$Y$;8U[JJ
MWLW;BVY:ZDJ%/4W!AM13@H)6EI)D2"`9'#`QLO<5/1TXO</,VP.>,86K,DK<
M:W$V6$8,KC9:Y)P)V=HBE8>0,Y:1U2B79UDVJHBD)5R@4_40,'37QKXZ>D'X
MU=X'AM5\+M:T.GF-/UC].\M=)3U#;X53.AUL)4Y5.I`*A)4T$E.`(VQT7I?A
M-IW2UW;O=O<JE52$*`"UI4F2TR,P&TG9LQC*]KA*-IPTA#2$-(0TA#2$-(0T
MA#2$-(0TA#2$-(0TA#2$-(0TA#2$2^N'^'3GK]'CD-_`^[:_4YZ-W^Y[I?\`
M*7'^DJJ.%>,WZ1J[H9_,MQ\NCD]_16]+G]%+*W][S.NNY8UN-ICE\#.(>(N7
MUXN=9S'S4P;PHKU/A(::0MN;E6I&]S4DY-PP>0M11?V>J,W4Q#MT`<*D.YV%
M-0O0`W,'H$>J)2,!./HW</>:/I-\..,&$.+]-]1CB[9:[A2@Q%)962<SGC-"
M6L*S(%'$G./FK6>%JS5EY5TNX\A,3$0*H"93&`H",4Q%,I*R9R,:V?XAO%G`
M'ES8+/SSP!ZDO&:PY0I&(8&K3W'6'O51N=ARFI59ETG!*8\=0%K^L64^>/L!
MR.&JK)TB=)F"I3$$3AKPR,36\PZI!E.)I_AY<G\-^`'&"PO,Q>J5Q??#R+)0
M\KDX_P`Q?Z?4'>!+8K7%&=HC)<TY<%I)Q;91N9BTE$P9LD2*129@`XF$0]$A
M$+DU*P!PC*CSHY->C9S]XR9'XPYAY]<4VM;O3)LO$6:)SEC!2PT2Y0RY9"JW
MBN"]F56X2T!)IE-V&`".6QU6Z@^6L?28B!(6DS`/J1A$])?AWZ7_`*;_`"J=
M<I+KZRG$3,LS7JG;:;C>MP%TQ]1V+5"Y(HQTK8K6Z>Y%LBSR13ADCH(,VH)H
M$.N90RI^TA=>"0B8LJ4)!)$9X>87,GTB^:'&3,W%S(_J&<7HBGYFIKJJR4U`
M9ZQF6:@G0.FDK"3T8#N96:*O(.=C6SLB2I135%'L-\TPZ]F(EA*P9@'U(U8L
M*^C-Z,E7OC"P<@O6XX\99QS$2*3YUCVC6G&&-WMLCVJOG&B9VTJ9-N<BS8OT
MR`FY)&MD71B&,"*Z1A*8ODARQ.SN;DF?AC/#RN_$A^FIP\Q,WH/$V8CN2UWJ
MU4:53&>/,2,)&,Q+56\''I1%=9V;(3]BTAV5;B&C9,`0B`DGBB20)E*GW>:7
MV8$2PTHF:L(^>#R!SQDSD_FO)?(+,<[\1Y,RQ:G]MM<F1+W9F1T[[$6<5$,N
M\Y(Z!@(Q!!BP;%$0;LVZ9-QVW&"<3\`)")/\DOZ'GIQ?R`<DO[[5]TCP;3TQ
M1F1K;7[`UF#R5NLLO>E[#+/#.(Z?EE*I%.G%QEP.R49335Q,)2AH-<$U$@<J
ME1`H")R]W;K4!9=;K5*0PVBG"E"12G.0$B1FDY99MAECR1<*IQAQM*LRC5E(
MF9DIVF8QV&7/MB[>*;K)6>/F*8L=-U%K14C%+*R@J.A.X507!$J*IEB`HZ(=
M$3"`B4O40V$NX:Q2Z4WFCS=:)A6=*I#<`9^##9Z\6T5!:<[6>91V[]\YQ.7@
M+<[-C/#V29&1@5V-DIV([*_8HV%NJ1"17:SL$!I`&Q!;K*1ZZIU/+V$.[M'8
MQ@ZZR6JJ*6JJG':1Q+C<A/*9Y3@<IYP-L;9M%0W56]O(=C@!Z<8SC4/U<TI?
M)1J9%7&@A($]T8.FJ55>^Y*21T$O/9`[:RZ"`G16,)3#OL!NF^^^K,[K&[T[
M?;N4J>R4<%92$[=_6GCRRB8BETO47)-L#]5VA7D"I`ISDREFEAC@#*4Y"<6F
MY.655'GA=))&*C#LCRM8='>)N`,5?ZTH%:>J]K4Z!S)D%9R8"AYANT`#J.L'
MUI6FL74NM'JK"3E(P'5&$^F-P:"I2Q0TR'!BDK&:>)DXL`RES".FR8,/..53
MF8),G`KB=,Y3IN&JA_*5#L.7L\U,HE$1W#<`$-:LIPC(,,BI[C,'W(V<[G`R
MSSB7)C$<SUMPDY*<D.S73]Y`?.1%%5(P]XCMW>7N&X?*'34]?:-R)QESSB00
MVO"<C+9*+XX^ADA%47-8:+D/'G(4YVS10=A'O$W[8B.P#MX>.J!U^6$MHY>>
M):V4G:K?R1)CCFUK",YW2M2:G10<[`*B"1DR=AQ[NP"]O;W"??H`:GOW"I3)
M`4L```=;9O,A/>8IGZ)E;<SE)QVI]V)!8.Y)2-0YA9EF&ZT^E2<>8_EGZ4`M
M+NRUQ1!=%)D9%M%J2"L>AN8X&[Q3(8-^FPZV[H;43ULI34U+KCK00KJ9B3N`
M'6PW^S&I=:Z<:K6FF&6D(?4Z@9\H$]I)F,<);XG<GZ@^)+A47+I2E2*KY5)R
M4R`V!@H182.#"JX45,#Y<PG%+8.[KM^76PJ+6-N=*T!IT/K5,E1&,\>4S,8.
M_HJ[L%"R^WV"1@`"9#D$@)1"B0Y<XPG;JJ=KBMLH[91+T3(NIABH)4_?HP14
M#OAQ`/,$^WZVK%JF^4M,PEU=.'$+6!*8PP)GB.;UXN%%IRN>3D%1(C'`'W8Z
MO(6=V\&0CF+B3)_$&>\'SC6'\X!CVL<8E6.2(552(5,?+44#82I]?'8`U@%'
M<VG]8M4R`0EQEMU*9X)2E*52(Z3%6;0XFW!Y:@<BG&E&76)*B)]&$6AP#SUH
M+?E?FN0RSCUFT@H.*<P;1>.F4R%"2+=JQ6HB1D!D6Z"*`=P@(["?M%0?9UUG
MU_JZ2VMM/55.JI;6^H!"93!2%+*L>1*28H#:ZM^GRTU2&"A*%*4H$@@R3EPY
M5*&,94)3FE@8$G#"T8KM3A)J18!2;2T*8IRD`3`)1]^;B';V[AT#6%U7$#1K
M[!:70U"B1($*&'J*$7-.A]6JD6JYA)!!Q2KR3$0(+FAQ]?6N^1%;@99LP>8[
MRB[;4.415/.&F/A*:3D)%2;*+R"-&+Q!`$B8KBH4Y1#L`3:M6GWJ1F_M7A1_
M^W!IQL,$=8N.2"7,Q)D$C=/&)][LER11"F?DJXI<02^D]3LTXY,F!S9L<TM\
MHU6/@ZQVC+N`^1M;EFE%H,>]?LZ3$2#DR+ZO/J\V74=*1*C<J@2:DC//]UCM
MA[VQA!,0`1`VLYO-Q8;ME=:F@KSWLTJ)&Y*E9<V.S+)1&WEYHUW?7*BGKDUB
M%$N,M!8&R0)*<-^W$RV")E>G*XDW/*\K$^4:U6"V2%E%6S*QHRQBY+.=!](^
MZP=J;-G<=%KI27:<"/5"K+'2`I";F4VMEKM%/7!*%.-M/H!$E&0`(V&0(G@"
M-@)5M,A%%I^XKH*W.E*EI6UCEDN>94T]:8G+:K>#,1L9XO(;-#C(%*B7#TJ]
M#N--JEGG(/(Z,BB*EA20?)I0R,<9BN*R/G%27**)CIG`P#TZZN:]#MOA8IG4
MFH04S6E<P`HD2`PF<(SNFU$ZAQM^H:(84A9"%HE/+O)QP\,=ECMW4\H9#RQ`
M0\9$RM5Q[?H2F(C)Q[90$I!G!$)9VI':>RS]F$TBH'>Y$RP*`<HCL`:RMVT6
MJE:IDMM-$J:!4<3-04I)G,X&:<1RQAR+S<GUO%3[G5<(VREL,L.F(:U]ZV0R
M5R+FY-M`E\Q>C(U=@K7X%:-;21%RLWD'"P#^)?-&(+%(<%0:I(K'$@BH<3B)
MM&DT7GS[266LH;3]RF293Q'.=YBZU3E5\74KI<<FK/,YC,X[S[L28S\I38'"
M&6&$?7*Y'+2-#L'8YBJY#,))!R'NZ+(&S]!@5RWW=&*`B0Q3=N^PAXZJ"JD;
MI76RVV"4G'(F8PW883Y8HZ%=2NO95G69.#:HREOGC&*>2S#F2OV3CU@=DUKQ
M<2V;AAGG)5N?*U.MKV!.Z5EME-[6';>WN&QK6T61>PS4W8DL"8E3`!^:(AJ@
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M,KY/>54GCW`4,LTC?:JF[1NCJ77FW%(DDA"#G4#A*0)5(>IM&$674-+:;BTP
MZOLFW,JL05*ZH(()Q.6<]AV1G@]!3+>(LK#R1?8JR!3;R@U;8J<R7PK,(2*T
M<E(ENQH_ZT:@5)W'*.`;J@4BQ"'W3-TZ:V1;[I6W`K16(<06Y2S`B<YSD=^P
M;(PFXVRCMZ4*I76W.TG/*9RE+:-VT[8DYD']WEU_?7/_`.U'.OQW]X?]/>M?
M[577^?/Q]!](_P!5+9_(&/S28I#6G8R*&D(UD?Q+BJ:6,>)HJJ$3`V0\G@43
MG*0!$*I`".W<(;[!K[1>AL;6O66N\@)E:;=L$_\`I+\<X=X@@6^V3('X]W]X
MF)%9HX\_SDO0GQ-7XIB$A;\?\7\09CHH)$*HY/-8]IC*5D630P`8_F3-4/(-
M``OYYE2AK4O#KBV.#WI.K]=*UWLK!==:W6TULS)(9KZM;3:U<S52&'9G8$F+
MU=[#\?\`!FF::&:I8M[#S?[)MI*I#G4G,@<ZHQC?A['#=Q-<ZSHK)*%'CC%*
M;D.4VQ3.[6)3#L(B`#^77:'I86'FK=PQ2XE0/TP=&(ECEI8UMP14DOW<@@CS
M-'LN1BX]/?G,\X$9CFLRPU$A,FNIW'$OCXT!+6=Q6FS9"7FZ[-FE2/V4?**J
M+('KQ4P2%,"F!41[@$H;]L][#NRT_>DX>T_#RXW.ILS%->&J\/M4R:A2BTS4
M,ALH6ML`*#Y5FS3!2!+$QKO0VLEZ)NJ[JRRBH6M@M92O)*:T*G/*K[R4I;XV
M(^'WKSVGE%R;PYQ\?<<JA4&F5+0K75[+'Y,E9E[#D3A966!RWBUZRR1>G$T<
M!.PRI`V,([]-M?)/C_Z+FQ\$^#.H>*]-JZX7!^QT0J$T[EN:90Z2\TUE4ZFH
M64#\9.82=DI8QOC2W&ZKU#J"ELKE"VVFH64Y@]F(DE2MG9B>R6T1WWXCS'83
M7%_">4R$(!\:YF5@7RY@`!3BLC5A\WV,<=@(D,Q6F@"(C^<8H>W5J]$#JXV_
MC7J30ZR2F\:=#Z$\KM!4(5@-Y[*H=\`)W15]X"W]KI^DN6'XBJR^!U"@?!-*
M/U&*[_#Q8Z0@N$-NNKMNF<,N9LMS@%!*!RO("IQ$+342]P[@=$'[9^7;J&XC
M\HZQCTM6KW;GWD[?IQA:@;#INE3+9D?JG7JL]!R*9,]NSDBJX$V]+6CWJT@9
MZBJ<(Y"E`2@>#,E4:[W%/C\='U;\=\>G2"2I<>\M)Y&29#L/_J+$UEG+8<QD
MC;F\@\36TS!W!VF*8/EU];..7%5+G<+N_%BG6I)NV@V%-K_R]TIV:48_?!VH
M4,,00>2-$:<L91Q08L9`/FUS7,?@L*4YZDD"-M_U;>-%\Y4<++[3,7$DGF2*
ME-P63ZI`Q;U=DZMJ]5%Z29JB(HJI>]NYBO2;L&B!Q[5GI$2>(AKX*]POC)IC
M@AWB[7J+6Q9;TA7T[UMJGW$!::5-3D+52<P.1#3[;7:K&*&5.*V`QU)Q2TY6
MZCT@[1VS,:UI274)29%91.:,)3S(*@!O5E$:RO!OUC;UP,P%<N-<QA9G>'<5
M8+3*4-U/V1U37M#F[#_[=@KA7W4&^>2D<SFRF=E0(9DX*=15$X]IBF)]G.\Q
MZ/?3'>AXIV[C%0:B<MC+])3-UJ6*=-6BM9I_XEZD?2\A#3BV9-%9#R"E*'$B
M8(5SIHWBK7:*LCM@<I`\M+BBV5+*"VI1F4K24DD!4S(93B03L(F#^'DXS9+7
MRUDKEQ9X"3@,>!1IBA4N4?L5HUO>+-;)V,E9]W7T'"93/8"OL8KL.Y3W0%RX
M(F0YA34`O/WI:.,VCFM!6?@+9:MFJU9\9M5U6TA:7%4=/3,N-,)?*3U'WUNY
M@VJ2^S;4M20%)GE?`G3MP<NS^IJAM2*'LBV@D$!Q2EI4HIGM2G+*8PF9`G*9
M;:>O@S'5$:/GK>KH)^J@B0ZR1#_"_',>PRA"FZN"[?-$0'K[-?I;]&LTZKN/
M%24J*?/;_C(R\6.+N,!`XE`$B>2F_?&,K_XC?")+5QRQ3GMDU(9_AW(BM5L#
MDJ6YRT[)S9-H0[A7;YK1E:H5D4.X>TIG8^T1WX6]$+Q*59>+U\X6U"SYMJ"T
M"I83/#SNW**B$C>I=,\\<,2&AR1L[CW9DU%@I;V@#/3/95&6.1T`$D\@6EL>
M&*,PWR!2SM^'SS>W?2:;VRX3Q%<<*V4ZC@BJY4*D]AG-0<+CWB8I%Z5*,"%,
M;\XR)O';61\1.%+G#'TKFFG:5DMV?4E_I;Q3@)(!55(>35)3AB4U;3RB!L"T
M\L45KOPO/!"J0XJ=124SC"L?\6GJ='XLH\,XPH^G+ZGLKZ>3/++6#Q37<IAE
M9S4'3E27N;RKC"#4D)Q%,C<&,1+`]!\$V(F$W8)/+#;?<=OH[WO.Y90][-^P
MO7*^5ED-B15)2&J1%3VWG2F22K.ZUDR=B)2S9LQG*4:BT#Q&=T(BJ0Q3HJ/.
M5-DDN9,N0*$O%5.>;FV1L7>FYZR%BYY<B76#I3!=8QRV:X[LM["P1%^DK,[.
MK7Y&`9$CAC7<!&)%2<A,B8ROF;E%,``H[]/D9WP/1YVCNO<)$<2Z'4U;=WEW
M:GHNP>H6Z=(#[;ZRYVB7W#-/8R"<LCF..$;ZT#Q:JM:7M5H>I$,H%.IS,'<Y
MZJD)E+(G[[;/=&M]D+D*IQ;]5S,F?6$#'7%_B_E3F.<1JS^7/#-9=1:=L\29
MJXDF[=ZNR`A9$3]Q4CCN0`VZ[Z^P.D^$R>-O<9T]PLJJIZWTM[T/:655+;0>
M4T`S3.YDMJ4A*YY)2S)P,YX1H&Y7SZ.\2ZV\H0EU=/<JA00599S4M.V1EMGL
M,9O^+/K]VOD7R0PE@=YQLIM7:Y;R%"TAQ8V63Y:6>0J4MY_=(-HQ:L-$GRJ/
ME=$S*D`V_B&OFIQM]%98N$7"#4G%&GUA<:U^P6EZL33KMS32'BU+\6IP5*B@
M*GBH))')&X-.\<ZR]WVDLZZ%M":EX(*@],B<\9=F)[.41AY]1#)P8<]7_,&5
MT&#.<=XRSUCR]HP+M^,<C+K5:`I,TG&.'B::ZS--Z9H"9E2IG,0#;@4=MM?0
M7NE:+/$+N`Z?T,ZZY34]ZTM7T1?2CM%-"I?K&2XE!*0LH"LP25`&4IC;&JM;
MW+XIXHU-S"0M=-6,N9299BA#:@"=TY;91D*7_$S70I55?YIU#Z`<^W\<$WM[
M3;;_``?X:Y,:]#+IPJ2CZ=73</\`PIG_`+W&=CO#UR4R^+F\!_C_`/FHL7Z]
M.5#9DY4\9\=,%DFSMC@C'LBI$).07+&V;.<_]:E;D`>U18Y8Q-@!3"4IE"`'
M0.FMG^BZT.GAYP/UGJVI2I=.YJBO;#I3E[2FLS'99CM`!<+Y(F0DSQBR\9[J
M+UJ2WT2#)8I$$IG.2WURP_P4IZ8RH^H!Z67#/&/!#/EVQ5Q\J%3RQCG%S:T1
METCG]J6DVKRK/(5]9GO8^L#Q@<S^(:O05[D3%`J@B`!L`AP]W5.^]WA]:]Y_
M2VF]<:KN%?H2[WM5,Y1N(I@TI%2AY%.B:&$+&1U313)8,T@$G8=EZWX::3MN
MBZVNMM$VBY-4^=+@*IC*0I1$S]X%#'<>6,>?IIT6Q\P_2@YM\3:+,BGD6G9(
MA\B8X:MY4T>=>2EHR'LL;#'=(+HF;M+/+4=^Q[CF*EYCK<X]H#MUIWQ]36CN
M_=^GAMQWU-3STC<+.[05ZE-=H$MM..T[CP2I)S+IFJQAZ0!5E;DG$B,$X?T5
M1JKAK=M-T2O]=9?#C<E2Q4$+2F8.Q2FUIF<!F).$1<X!>JKD/TSJOEO`UVP>
MYN7O=Q=V9A6++8'6/+%C[(96+:%GFD^U>P,JZ>Q,C]5-CK(@1!=-5$QDSF!4
M1#=?>H[CFDN^5>[#Q0TWJ5-N+=O13KJ:=A-?3UU!G4\PIA2'VDH=;[5P(7-:
M%(6`I(*`#CFBN)-?P^I:NQUE(IU*G%*"%*[)33I`2O,"A1(.488$&>V>$E/0
MTP7EC-O-:X<W+'75X7'L`&49M:Q$C5XRO6;)65E'Z"U=I_F]I'[&":S3MPX,
MB*B38A44SF\Q0H:T]Z3'B;H7AOW<;?W;;/5IJ=65?Q:RECM`X_3V^V!!%15R
MQ0MY3+3;85E4X2XM(RH,9'P;LMTO.L'=7OME%$CME%4B$K=>)!0CE"4J421,
M#J@XF(9\_LJ_Q(^L1E[,#>.93[S%7(?'^0$*\\D!C4)E>IP=)FDHIP^22<+,
MD7QF@)F5*F<Q`-N!1VVUT-W5M#?:1Z/NP</W77*6GOFDJZA4^AOM%,IJGJQD
MNI02D+*`K,$E0!E(D1AVM+G\3<4ZB[)2'%4U:RZ$DRS9$-JRD[IRV[HR%J?B
M9+H4#G_FG4,?$=OXX)OY?WGZY-1Z&?3BE`'75T^:F?\`O<9Y_P#L/7`2%N;_
M`-/_`,U&UQ5Y@UBK%9L)T"M3V"NP4Z=J1052-CS$4TD3-R*B4@JD0,Y[`,(`
M)@#?8-?"V^V]-HOE;:4J*TTE6\R%$2*@TXIO,1C(JRS(F93E'4%$^:JD;J")
M%:`9=,=YJU150TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA$OKA_
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MLY>L@TJF7JJ15`>/+2>3C;\Y>LJW&()IQS1VM8';MB9,6J:1S=QB@43=VM*\
M(N/?#_C3HRXZ^TLY44VF;5<JNBJ7:Y"*8-N4*4+J'%$N*2&$I6%=HI0$@9@2
MC(;WIBZ6"X-6RK"5U;[:5H#9*IA:E(2)2!*BI)$@,<)3G$V(GT8.2C>)AG&6
MLL<5^/-MLK-!]`8RS/FB.@<@/4W8$%H1W$1L?*MHUPN)NWRSKG.10.PP`;<`
MYPK_`$B7!QZOJ&M"6+7&K;%1N%#]QM%H<?H4%,\Q2ZXXTIQ(E/,$`%/622-N
M7L<*+]V(7<JJVT-0M(*6GW\KA!V2"4J$]T@20<#CA$&^3?$?/7$"[,Z+G>D'
MK3V9:#)5:P1KUM/4RYQ)3)D-)U2T1XGCY1!$5B><G^UN4!.7S$R]Q=^E^#''
MGA;Q_P!-N:GX87(5E-3K[.I8<0IBKI'9$]G54SDEM*,CE5UFUR.1:I&6':@T
MQ>=,58H[PUV:E":%`YD+&&*5#;*8F#)29X@1=SEQZ<_(SA53\;7O,C:E.*QE
M-VXCZ[(TNPKSY&D@A#M9XC&;*M%1ON#AY&N3'0V%0%!15#?YO7`>`O>YX1=X
MW4%XTQP]5<47JR-I<J&ZQA+!4V75,%;,G7,Z4.)"5SRE.=!EUL+GJ?0E]TG2
ML5EU#18J%$)+:BJ1`G)4TIE,3E*<Y&+'\8^-&3N7&8Z_@W$#.(<W6PL)R616
MGWYXJ!CHJNQJLG*2,M))M7AVC9-),J9!!(XG753(`;FULOC/QCT5P%X?57$O
M7[CZ-.4CK+1#"`Z^X[4.!MMMILJ1G422HC,)(2I1P$6C3VG[CJ>Z(M%K"35K
M2I76,D@)$R20#T#`S)`WQ*''?I:\D\EYOY$X"AI?$,1<N+Q(97*DM:+T>$IS
M5O-I><U=15@7ACINFJ"75=19-N1(/$=:5U;WV>#NC>&ND>*=PI[^_I[6Q=%L
M:IJ(/5:E,F2DNL)>!2I1P0E"G"K=&04/#R_5]UK;0TNF34T&7M2I:@@!22H$
M'(3L!G,"47?_`/\`%GDKX?QV<,?[1M?_`-VZU_\`_P!&>#GU;XB_,#_OD7/[
M*K[_`+W;/].?>XQD9>QC.87R;=<4V64K,W/42;5@966IDTC8ZJ_=HHH+F7@I
MUN1-"48B1<`!4I0`3`(>S79^@=9VWB+HRVZYL[%;36NZ4P?::JV33U*$DD97
MF5$EM<TF:23A([XU_<[>]:J]VWOJ0IYI4B4',DX`]4R$QCR#'`Q+KDE_0\].
M+^0#DE_?:ONLNB@&T],64=MX1K-6PC@6RTT$_.F>LU"J*F6.C+O.U,';$$B^
M<'>*AU=Q.8I=@```=]35BJAVHF,PIP3(X<NV1]3FBG[9LJ409^R>8[H]*7)/
M(J=8=B96J:.YA0&16=^^KBZ4.8[3N7#HKN8H=Y^[;<O:`F-JEN2$/TRIXSV'
M+L$AMY^@<^Z*=Q82KJ>-+'P\D3OP":#K$KRK+(9(LECE[CA.S3M?JZRKV4:P
MD;+O(,I3*$9G=)HMFSAN8J(G*1%HU`!,H)CCM)IZIZHMJ`*9MEAI)05I$BM:
M2-HD#.6*E3Q5/"0C8ND'^T;[-:B5)6F6.[&>'-%$5O+M0B<M/Y#^*283=&?)
MK/'AG;MK(FD45"I_6S9CV%9I"=0#*>6!@`W7YVXAJP55+4JMR4]N@HW#=+D_
MX8R!%U;;O?:-VM4NU!)*B%E4_'`\48X@>O&:W.4ZN_SS(SPO7*2SR/QZ]\M8
MJ9#I@KC:HF`BI#@)BJ`!NH".X#K7EQ5VCCS1E(&4;\TY-%$RN4NLH_\`S%1S
M9.P+.P(89+N$RGB(-N@BFH'<.X".^W3]?6'*8R'?*<9OGS;A/_@CB,K8_C__
M`$==(PE4#Q*U^?OW?./N`E$-4+K6."E`3B+*")$"47,HV0+2>#2-,JQ,?+*1
MSCWM*/\`=U&B1MW`)D1.H`G_`-`4@CN/YPCMTU2U=/3)J,M.I98PE.0.S&<N
M?UHDM(=6T#4I2'9X@3(VX>J/7CFXZY`257,[]Z48NP376_.(CWE*42CN';U'
MP_8U4+H2J2D`DX1$M"%IDH@114?G-G.0O-*V,5VJ$HEB$H'(W43\QN#BS1;4
M!,4AA.05`$0'?6;V&B?2A#;B2$.*Y)`X@X1A>HEL)+>1046W,<9D8&(;5_,E
MS98G*X823F+7\N2=C(D`2KBW!PIY`D.9(ZG882*%*(?M>YA$1#;68KHV#7J2
MK%$DIE.4E8=,HQE%Z>IJ9QIE2,ZQ(S`._`3VB1E*45GQ[RM(V)ZM(/5EEGJM
M8<KJ++F^>859*+.<#]H@3O2.`EZ?)J3J]I"*!MH8R=`_<JCRUA2EE9&U/MQ(
M2U\NH1YG+'?&9"F2@V1SE'C_`&)W>32+12-,Q&*I$@,8G%>Z^]`91!0$Q.*W
MY_4`V#;5#9M*/(N+&L"^V:?S7LNR*3GGE"`0N<I`C-*48M578%]VSA"L*E9S
M3P\=1V<N,HQ^<D+ZG3K]R-=F<>4$I;V<>A&IE'WZ;]UR;"S"D+'?M:I"/'9(
MT?G&+VE*`^W;6?+975US",LPAU\E7W+<VG4A:L1@,WJRBVWNJ316A0S?C'>P
M2$XYG)*0LH3(&1(3M.Z<3JOW(9VX(Q<@*S8\G'HJ+(*'V,W,Y1()VRW;T!9`
MQA*;;IW!KFZFM:0O()%"5F1W&1P/AC=AK?Q:5@$$I!(.T3&P\XWQ9C"N0SR>
M9)?N4.4QL;99W`QMS;?`4X0/:(>W?66=AV##+G(^UZZQ&/5J_.`XE7WA/J"<
M0!D;T@3%_%*#7FY=V\@\D7^62:U\&QT(2(L!W,<BE+JKHN`!^,@8RA$RD[TV
MRPF[@,)3ESQVD=?O%W="0&_,F4#M)R*DG.>S`(ZI!.8[UC81,'FO5-2%7)2$
M@@I:"25&04<522!C(`XG[XR&R+V<6;G.4_DOA^PLWK-DRDG$H$TI*%;N$H^O
MK-))C+$,@NL5BTE4U%U2&72V5)^8!NX=1CLV:=Q4NNV0)@8J)V&<LV64B!RX
MQ*T@5^?-I0I.4J((.^8W3V2W^M.)N6S(LLTQ1S"40L5QB6%HMU6FH]?&<LWK
M]U=(1DI%(M5HR25<MA8,'<697WCN53,/=V]H".^K:]<*RGJV44BD)0XGK9YY
M9B9$Y8X'9(<D;N\Q:J;6K.TZ\^@D`-D!4IB8!5U1SSW1D,X]9<I&'<:/ZJE<
MVU60E+-7CK'NUS@)&XB#3'=7E)IU8IA&0>(.9EH[GB*/%3G'?WD#&$!-KR[7
M*Y?%EN?MA4MT4Q+G9H)&<N.'9+,)C$3W1B5IMU&U55K-6WV2?.#E#BAF`RIP
M*@9$C82-\6MPKRPE\DY\Y**15K3(/Q4G3O+<$CFZ[GX6GY2OQOE$.H5=RX6(
MU[/FE,<X%#;???7E9<[O2TK+XS>>.(!6<H,P0%#=@0#*+I;V[96LEI>4M,N+
M2E)5*4E$;SB#@1'8<T<@7ZK<<92TO9<C5M:IFJT-G*.4$4V3TMNLD<S`T>NB
ME[LJ/NC===+M%0PD2,(B';L,RRW>XW"M+#A)(05$9<1(;#ARQ.JV;7;FVWTA
M()>0D25/QC*8QW#;NB#E=F[S;KWA`KE*20CF?%3E5"!*[J)(R+6+"<9HMVBX
MD*@[02=6DP"4@F$%-^[8"[ZOBJQRCI7%.*/:"I:R]7``RS`&4CL(YI\L6ZK6
MV]?&:5M(R*:<4K&>(`E/'=@0#%!X-2RIQVXT8S@#T\B\_CC+60T%:\Y$SA&.
M+DR",\DY^S-R/6)B,8Y@Z:@N3S`*@Y2*D8HG,8NL3O\`J6BO#KM,FIR,%:%H
M!!2I2FC)02)9CF5@)[1B,(QJP7QC3EHJ'%ALW/(ZVAN8)45@]:4\0F:29;/5
MC&)E6;N-1"OUN-B9-A&H-925=I,D`?N#@Y=MRM)"1<`8S@&JK=X4@=A0`AR]
MIA*7O$,FL5%17!+U8XM"WII&)ERS"1O((GT8QJ^H;K'GBMTSJ<W4&:1D0%=7
M=O\`!X(H7&U?N>48G-,',O:_$,[GCR1I7G6F5^K7A74Q+PD@#B,8B#ITJ9FM
M#(G5$"E23*8W;W&`"C<[A<;;87Z!UCM5%FI2X0VDJ&5*5#K$"6.8\YEX8NUM
M:67B*EQ#;9&0YE"76PF")S(VGD'/&U9^$EXWS/'Z8YX)R\I#R0V1/`/D&B'#
MQR1,L8&4N\RRKE@S3$ZGOH;=ACCL'7;V[<TIJZAU2ATT>;\3EGF3E\:>X_L3
M'MVM[-#D++K;H5/%)F,)<W/&;7(/[O+K^^N?_P!J.=?D+[P_Z>]:_P!JKK_/
MGX^@6D?ZJ6S^0,?FDQ2&M.QD4-(13MAI]1MR;5&VU2LVI%BHHJR1LL!$SZ3-
M58I2+*M$Y9F[(V45(4`,8@%$P``#TU>+3J&_V!:W+#7UM"XZ`%FG?=8*P,0%
M%I:2H`DD`S`.R*6IH:.M`%6TAP).&8`RGR3CM6D;'1\>WB6$>Q8Q+1H1@UBV
M;-NUC6S%-/R2,6[!!--H@S(C\P$BD!,"=`#;IJ@?K*RJJU7"J>==KUN%:G5K
M4IQ2R9E:EJ)45DXE1)43C.<34,M-M!E"0&0)``8`#"4N2.@@:#0ZL+TU7H]-
MK1I)N#21-7JM!0@R#0HF$K5\,8P:B\;%$YMDU.X@=P].HZNMTU5JF^!L7NYW
M&L#*\S?;U+SW9J^^1VBU9%8#K)D<!C%-3VVWTF8TS+394)'*D"8YY1T/\2^&
M@\,0XK_^'5._W-JZ_:-Q$^L%\^'U?OT4_P`16;_=6/VB?<CGQ>+,7P<@UEH3
M&F/(:68J"LQE(FD5B-DF2PD,F*K-^RBT'3944SB7N(<H]HB'@.J2MUQK:YTB
MZ"Y7F[5%"Z)+;=K*EQM8G.2T+<*5"8!D01,`Q,:L]J8<#K-.REU.PA`!'AE%
M23E?@+/'GB;+!0MCBE%4EU(N?BF$U&J+MS=Z"QV,DW=-3+('ZD,).X@]0$-6
M>V7:ZV6J%?9JJIHZX)*0XPZMEP)5@H!;:DJDH8$3D1MBKJ*:GJV^RJ4)<:G.
M2@",.8Q[PT'"5R/1B*[#1-?B6QE3-HJ#C641&MS+*&66,@PCD&S1$RRQQ.<2
MD`3&$1'<1U#<;G<KQ5JN%WJ:BKKU@9G7G%NN*D)#,MQ2E&0``F<`)#"/6*=B
ME;#-.A*&AL"1(8X[!SQU+>AT5G/J6MI2:>UM2RKAPM9VU8@V]C57=IF1=+JS
MB3`DHHLZ2,)5#BJ)CE$0,(@.J][5.IZBU"Q/W*X+L:4I2*952\JG"4F:4ADK
M+8"3BD!,DG$2,2$VZ@14&K0RV*HDG/E&:9P..W$15>XAJQS,5D6HLF!\&7*>
M&U7#"V)+7:!.10UDLN-J9.SQU$A`4U%)B3A74@HH00Z&,H(AK.;/Q1XFZ>M?
MQ'I_4=_H;*`1YO3W"K98`.T!IMY+8!W@)E%IJ+!9*I[SBJHZ9RH^^4TA2OVQ
M22/5BZ+=NW:-V[-H@@T:-$4VS1HU13;M6K=$H$2;MFZ)2(H()$``*0A0*4`V
M`-82\\]4.KJ*A:G'W%%2E*)4I2CB5*422I1.)))).V+HAM#:0AL`(`D`.;`1
M^NI<1Q1TQCK'EBD_KJPT"CS\R!6Y`F)RHUZ7E0(T_P#1"?6,A'.'G8U'_1AW
M[)_YNVLBMVK]6VBC^+K3=;G2VZ:CV3-4^TU-7C'LVW$HFK[K#K;YQ0/VNW5+
MO;U##2WL.LI()PV8D;H[^8AH:PQSB(L$1%3T2[\OWN*FXYG+1CKR52+H^\L)
M!%PT7\E=,IR=Y![3E`P;"`#JU6^Y7&T5:+A::A^EKVYY767%M.)F"DY5ME*D
MS!(,B)@D'`Q4OT[%2T6:A"5LG:")@[]AYXZ1AC^@Q43)P$71:9&0,WM]=0<=
M58%C#3&Q`3#ZUBVL>DPD=DR@7]N3/\T`#PU<JK5FJJZO9NM;<[B]=*;^)><J
M7UNM8S_%.*65MXX]10QQBG;MMO:953MLM)87XR0D`'I$L8Z+^)?#?_\`$.+/
M_AW3O]S:N?VC<1/E^^?#ZOWZ*?XBLW^ZL?M$^Y'=0..\>U9\,G5Z%2*U)F04
M:C)5ZI5^$D!:JF(95L+V,CFKD6ZIDRB8G=VF$H"(=`U;KIJ[5M\IO,KW=;E6
M404%=F_5/O(S"8"LCCBDY@"9&4Q,R.,3Z>V6ZD<[6E8:;<E*:4@&7)@(Z][B
M7%$D\=2,EBW&TA(/G"KM\_?T.J/'KUTN<5%W3MVYB5'#ERLH83'.<QC&,.XB
M(ZJZ;7NNZ.G124=[O#5(T@)0A%;4H0A*1)*4I2Z$I2!@$@``8`1+<LUI=677
M:9E3BC,DH222=I)EMCWCL4XLAW[25B,8XZBI2/7(Y82<91JM'R+%RGOY;ED^
M:12+IJX)OT.F<I@]@ZAJ]=ZYN%*Y0U]ZN[]$ZDI6VY6U*VUI.U*T*=*5).\*
M!!Y(-V:TLN!UJF92XDS!"$@@\QE'O*XMQA.R#J7G,:X]FI9\<%7LI+TFLR<D
M\4*0J95';]]%KNW*A4R%*!CG,(%``\`U#0ZXUM;*1%!;;S=J:A:$D-M5E0VV
M@3G)*$.)2D3),@!B28]=M%K?<+SU.RMU6TE`)/291UXX7PT/0<0XK$/D''5.
M_P!RZJ_M'XB#9J"^?#ZOWZ)?Q%9O]U8_:)]R.W?XWQU*R2,S*X^HLI,-RLB-
MY>1J%=?2B!(TI"1Q$9%U&JO$B1Y$R@@!3@"(%`"=NP:H*76.KZ&C5;J&[7-F
MWK*RIINKJ$-J+DRX2VEP()<))62.N2<TYQ.<M5M>=#[K#2GA*2BD3PV8RW;H
MJI\R92;-W'2;-I)1[]!5J^82#9%ZR>M5R"FNV>-')%6[INNF82G(<IBF*.P@
M(:L5+4U-%4(JZ)QQFK:4%(6VHH6A23-*D*20I*@<0000<08K'&VW6RTXD*;4
M)$$3!!P(ET1T5=I5,J`NQJ-/JE4%^"(/QK-<AH`7P-O,]V!X,2R9BZ!OYQ_+
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M<<6I;BU':I:U$J4>=1)BX,LM,-AIE*4-@2``D`(I"4Q;B^<D'4M-XTQ[,RSY
M0%7TI+TFL2<D]5*0J8*NW[V+7=.5`3(4H&.<P]I0#P`-7^BUQK:V4B*"VWF[
M4]"T)(;:K*EMM`F3)*$.!*1,DR``F28HG;1:WW"\]3LK=5M)0"3TF4<#^)?#
M0_\`[0XK_P#AU3O]S:J_M'XB?6"^?#ZOWZ)?Q%9O]U8_:)]R+CIIIHIIHHID
M2123(DDDD0J:22290(FFFF0`(FFF0H`4H````;!K#EK6XLN.$J<42229DDXD
MDG$DG$DXF+HE(2,J1)(CWU#$4-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0
MTA#2$-(1+ZX?X=.>OT>.0W\#[MK]3GHW?[GNE_REQ_I*JCA7C-^D:NZ&?S+<
M?+HY/?T5O2Y_12RM_>\SKKN6-;C:8GCZ*M42O=6]2:DKV:NTM"W\.96LK7"W
MO!CZI54IM:Q1Q[#97X`864##E<>>[5V'RT$S&]FOF3Z1N^N:8O?!W4C5%5W%
MVW\0FZ@4E*CM*JI+*:=P,4Z/NWW<N1I/W2U`;XW+PDI16L7VC+C;(=MBD9UF
M2$9DNIS+.Y*9S4=P!BS8^E)5!1[?_P#3/T[/S`#N_C?<=O@'7_T7PUL$=^>^
M=IF^QGBWM^2AY46T\,J:4OI#8?\`3QG:LM%KB'JSMLF3;>*M3KBYZ7,+E.H`
M4".XF0MT([L]=BIUEYA1*LBDR>.56JGS3$%8BA1`Q0U\Q;-J:[N=Q!>C+<M^
MA9UMQL=ME7M0ZW2O)IWW65RQ!*T-I=3B#E4@@@F-P/T#">)/GSV1TV[3_;(W
MI*@ZXB8_P5*D=Q((,Q&G!D3(5OS+=K-E')4V^MEVO,L[L-AFYE=1^Z<O))8S
MD6Z9W)E!0CV15`1;-R=J2"!"D(4I2@&OT):2TI8.'FFZ+16CJ9N@TW;&$,,,
MM)"$I0V`G,0F69:Y9W%F:EK*E*)))CE>OKZJ[5CERN"R[5O**E*49F9QD)[`
M-@`P```C-#B^?EN27HG\F:WDMZM89'A1ES'%JPQ8Y94[Z9@:];7L-'2%-:2#
MDRCDL0FVE7R22/=V$053('S44@+\Z]:VNAX/^D?T9>=&MBDI.(]AN%-=Z=H!
M#3[]*AUQNK6A,DETJ;94I<IE:5JVN+*ML6YYR_\`":X,UY*UVFI;4PLXJ2E1
M0,DSCE`4X`.121L2)95O42WY(X]Y5\1%@]^N>(N*W'/F=A1D()F=*+5!E.PV
M48F-`W[:8SN`03W(7Q%V(ZX;[I'_`.']5Z&X^-_BM.W_`%Q?](WA>(2!5+8>
MMKKF[JOJ5B=S0$;)URI5_H;EIA<U5--0,5K`P^X4XET8X^*D)`&]R,7_`*2I
MR\?<76WE.KNUMF=.0^!.%.%G9A3!8S:T7JO6W-$U'=Y15'W.J,TFQCDV[3;E
M$>HZ[5[^"5<5M:T'!!'7L.F=)WO5]W3C(*IJ)^EM#+DL.O4K4X`=HD0(U]PP
M/Q'0KU'LJ:ROIJ%@X;%N(6^9''Q-A&])QB?%6H"V4^8'X@/&C6PU6HKWK%L1
M54+/>)/ZEIM?4EX!=H25L\N*2X1L&R$_>X6[#^6F`CL.N6+WJE&B.`'=4UB]
M25U>U;+V[4JIJ-OMJM\-/I66J9J:>T>7*3:)C,H@3$9504*KIJ75]`'&FE/4
MR$YW594)S4ZQF6K&21.9/)&)\GHUVHPE+_/7]/$-Q*7<<]EV#?8-Q_\`RWX:
M[K5Z0RQ@%7V;\6OF3_ZB-?GA-4@3^.+#\)_^",4]PK)Z5;K73%).%FU:C9IZ
ML*S5;=@_KLPK`2KN*4E8!^!$@?0LB=H*S5;M+YJ!RFV#?;7<NG[RG4=@H=1(
M9J:9%?1L5(9J$Y*AH/M)=#3Z)G(\V%9'43.584F9E&LZNG-'5.TA4A9:<4C,
M@S0K*HIS).])E-)WB1B;O)+^AYZ<7\@')+^^U?=7>*8;3TQ3\YQ8ND`YR!=)
M:V-5XV)$)>%8)-7Q7]BD+6@\<QU>BE))=)NQD("9>)I/W#P6Z:3<#*@8/FIZ
MT<[K2W55<BVL,*#KCSB5F:9-I:7)2U99DI6D$H"<Q*NK+?$EQE+9)2I*U"0&
MW&>SHEC.<O7B/](?N7TRN8E>4?*LF3]Q."P8J2J<<W*F+!P^#R17:D3;G4`0
M<%,4A%E2A[0$;]7,!M@`NA*2H!.8Y9_=`8R,^;;(1+4EK(D&1`!F1S[O<Z8F
M+C"3+1\RY6KTM(HEL4QQ:F<4L*T]DD'$LE:)*;CC(LV[0#'1CFB+=NLLL<%3
ME`H[`;<Q2:ME/5,C3"ZM>%.7U*"@G!04!+G4>>0ET",IL-;26MU3M4XE*!(>
M&?-'-O,=FQ&YD6CI0J$`X1CTHU@S,R+*12A$2(+-W[95,RQCB]3.!QW-ON`"
M`=`UB+%QLJZ,B1[=),U*!"3O!!Z.67+%]K;^_<[WDMEQ"&,,LNJ```58D=:4
MN7'9&8&RTB;R7DE]::[7)";=O*U0/>YJ/CW@MW<@PH%<A),=C[$:F1D8I9,Y
M>T`*)0]A@$=8U6H*1^H53I>1D4LA*5*2DF1W`D$[<.6-ZZ.U!8ZNB1V=0TJJ
M2M:58XDA1GAR'E`ER1=.$XY9/D6Q55*G+(%$PG[E$$"D["@/<!CJN$RE'J'0
M=M43RE;$A.7I'NQL#XPI=I6K-R!*O<BO8[BM>%DRJ*@Q:`82!VN'S`AR[!N.
MY".%-M@\>N^J!:5K.&3U8FBZL(P_&'_!B[,%Q4L'NP'<RT&1(R)DSG]^(?Y^
MP[E.5%-0W@/L`=4ZJ%Y9F"WZI]R(%WVG099',W0/=BB7/`N]NP>N&EJK0)**
M',FF@XD#G_;-^U,Q08IB40$>O7;5Y;"D)`F"`-H!Q]B*15\8/_%K!YR/UX_"
M!X#9=A*%FZLLTH6<?99I:-3CW"#U9H2+63FV$N+UXHY;=RY129B0"$#\XVXC
MMJ]4%T\T<0O(XK*>2+#<EL5PRE26QFGS[Q[<1=G?3GY%5['Y*NO37[\0#M=2
MD(X2?C[N1V58J"3--0ZBXJIB<.[L*4F_41VU7+U$RFK\[<1E.V12=NS$]&R4
M6Q[3E%4MMEBM:"Y34DH43FGR[#AO&R+21U76XXO&499:7>7#1U&/T;!*Q\08
MB<$D1RV<K&!&8/%%=O-VX@5NFIN<`'81'8!\KKBG4*`AA;;<EC*%GK*P(V"<
MA(SF91-K*6LLY0+=3JK*0H45*00,N7&1"C.9&(&,^G"):8HK'"3*F8*%E(MV
MM];S=6*=5,D6V.ODZZJM+K1*.,+"0?O@?57N)'DL@P:N$F:KD3*^88!VZ:R2
MS/5[E`W1I*/-FCE4J0EU5=:2N3G!ENG.-55;V2YO5-0TZRYFS$*!&4*Q`43A
M/'8,98RC&9RMBX&XY,R+.1$_#J5B8R<UDH^UM'!S_4[5S8066G8QLFNW5>.H
MYF)E?($?,[0'H!MMKY27!M;JI34E273EW.),Y`S&PS\,0:E+%5;J==,IHI.7
MKS.9$DC,4`$35,2WRW8QEYJ7#G!5UKR%A9Y.Y$Y&CHA%JT</ZOQ^48C)+)L6
M[GWXK:8L8+I$D4EBJIF,4`4`X"7<!UI\,47:J2Y6,L)S'JD'JXG#P;,8S^GN
MEW72MY*=#I#:1F+H!5@,2`,"1B=_+$,\T42G<5,B!:X*K9YDX:1JMC(X>Y'J
MS"G@QBYQDM7YTBZ;!=TB0[1O)D,TV.=5;<P]O[68!JNS5=`:.WUK"T-N-E)"
M3,K!*A,F4Q-.W8,!.9BPWFYZJH'>T8I&RA31.!SC+L5.1!F)B0&,I\D6:C'>
M,4HRIL,>TB12C*RP9HU9Q(RL8Y83ZTM.JHRTF[<OH]5P[DSQ:BIBJG3*H"20
M"0"="C(4W>':A]RYU2%/O+)7)*@494C*D)29`9@.J,"3C/;&G[C9;\_6>>53
M80MPY@9RD``)`G8"-PWDS,XM5/8@KMFGH>Q59Z6"<P2;EXHFJ<SU^O,E=R+M
MZI]8/"1Z#!@0"@";='O[E%.H#UU?:>_W%FE<I:K\:5$`2&49,`#E!)*OPCC(
M15T-G<*2M*7&W&YGF&69)).$QR#,I6X81^W\Y$<+WRO,Q7/9Y*"FY&[H5X8M
MM<ZM:W4F1U&2HV>'*T(24C&[A0_E-E`(D5;J4!'?5UM]'75K/GR4-!K/(ET2
M(,A(`SY,>B*Q%SO=OJ$M,I=J$%:E'*2`"H;2`>MO(Y(E0ASQP[D,GFVWAAQQ
ML*:PBHY2<59>H3!E%BD%59PS0CUC%5=^04PCU#M*4!WV#:^TZ76`0^V`I)D"
MDG*1S2)V>ICA%P.H:AW!Q+C:I[%`'P[XIJ1MW`&T/B3$MPSFZ5,'>>]FF\4Y
M+L40N@[[SJ%=H`=W'I>:1=0QB^!BF,(@.XZN#;TP<A<#>_K3$N22MV'-$2KR
MGQG&D+(WE`V^"4=Y+X_]/[)=4:TQ6X\OL60C;ZG39QZED6N%<BQ@W#QW#JM(
M1\\DD.^-<R"PI'3("I15/U$##OZBY4S"\P<7F)),T3V[=D0IN5)5`)6PW,2E
M@0<,1%M+YQ\XTUR,KSR*]23(T7'T>!GT8-I;8(TA+,D)B0^M9)C%Q7O#!T+>
M1?',HLV`IQ.J8.X#%,.JI3K-:UD`;=9VR(4`#S"8E/'D,XC6BV.?ZPZ'$N(3
MXR7#.7.9$SY-L6SB8^LW*9B4JSSKJ=M3E&Q%W$5::W8J3,C&1ASJ21%9!X96
M*1FU4DNT#+F.`@8#`!QV#6)U-I8:"E-T8#XF0<2)JV3F"9;\#.*2GM^FZZI2
M\Q5*%4HS/:`$D;QF`3+9TRB\LAQEO4XY=`TGHQJV68JHB\6GZA:4G"KM0%.\
M[F0JL)+"W:E$2($*/YFP]P&$PC96O.Z10&5E37:3(276U!(W>.4DG"9.WDE&
M05&CJ:HDMMLYI8=8."9VD%2<P$IX9N2<1\D>`%B>R\Z^N<%-6E!=<JC"4K$W
M'F/Y!B$*#9>(^ICMNUN4![5"F,H;?\@:SFDU"TEI+=#)E8'6#@F9[^MFQZ(L
MITG6T(RLT@4GED,>G$^Q&SW^&;PJEAE]S#CV;6V1[&2)AHQ&%F9-VI4W+;^,
M0'"[([5HT36,N"Q?,'81^:7Y=;%T&^JH<JW',A<_%X@DX=:0Q)E+VXQ34M(_
M2)9;=;+:>M(2D-TY8",E>0?W>77]]<__`+4<Z_)#WA_T]ZU_M5=?Y\_'>.D?
MZJ6S^0,?FDQ2&M.QD4-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(
M0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#2$-(0TA#
M2$-(0TA#2$-(0TA#2$-(0TA$OKA_ATYZ_1XY#?P/NVOU.>C=_N>Z7_*7'^DJ
MJ.%>,WZ1J[H9_,MQ\NCD]_16]+G]%+*W][S.NNY8UN-IB5WI33D%$8@]4EO,
MS<+#K3'!NX1T0A+RT?&*R\@HRM/9'Q23YP@I)/E.X`!%$%%!$P`!>H;_`#U[
M\ELN=PX@<$G;=35-0W3\3*5QU333C@:0%TTW'"A*@V@2Q6N21(XX&-J\-WV6
M;;J!+JTI*[2X$S($SV;V`GM/ZPVD",,@II^[[>63_1!T[`_[H=-MM?1$+7VN
MT^-RQJF0ELW1M%\H.9U*XM>J!@#)TLZ87G#=IX/8OPYFIG5)!A8#_!-L-9F\
MRHB$8Y<IKRM9?(MGAV?<5=5$ATPV,H77Q/X*=W;4G&SN5:JT70H=MG$*AXE7
M*[6A=4VM@>>4OFRF0>T2DAJH07&@[(H2M25F808Z(O\`JNDT]Q`HK@X4NVIR
MUH8?"3FZBG79F0.)0H)44[5)F!XP,0<O/HZ7BZV=S;.&F;^.N;^.EF>JRE-N
M$AF.M5&<J->?*BX;0M\@Y@4WK>2@&RGE*G1(=94B7<=!)03)!TOIKT@VFM.6
M5%B[P^FM7::XNT;8;JZ1NTU%4S5/H&53U$\S-"FWU#,D+(0DJRI=<0`LX?7<
M+ZNJJ34Z5JZ.KL;AS(7VN53:3B$N"1Q2.3K$;4I.$=CR@N>%.&'"-7T]L-Y4
MJ^<<RY<R-#9*Y79-Q^Y]_H$$2N*,%8+&M<F"',C+J-G48U*<2B(E11646!-1
MP5%.CX*:=XC]XKO)#O8<0['6Z9X>6"T/6_3%NKD]G7/FH"P_<*AD@%H*2XZ0
M#@5J;0V5H:4XJ=J&JM.E-)'1-JJ6ZNZU3P<JW6S-M(24D-I._%".<`**@"H)
M$P.3_)>K82]93BWDL+#`3F.)7`&%\39.<1DM&3,*K2<BL+%4+0TDW+)TNR`D
M0>2;O%TU#@*8-P$P!TUH#@KP;OG$CT>>MM&FDJJ;5[&JKO=+<EQIQEX5E`MB
MJIE-I6E*YNAM;2%)!S%<@3C&3:@O]/:^*5OKPXVJA72MLNF84G*XIQ!S;I))
M2O'<)[(LMRK>XOP7RW].OA!A^WPDUBCC7EFIY'M%G8RT6M"261,SYA:V=^^?
M2C1XO&;U:F(,FOF&6[445!`PEZ@&QN!]-K;B;P%XM]Y37]OJ:;76L;%56^FI
MEM.!YN@M%J53(0AI2`Y_K-6IYW*$36I((S8$VW4#MLM6J+!I2TN)5:Z&J;=4
MO`3<??S]8SEU$;"3@%;HEI58F)R_R[]>C&U<O6-H^4S1C2'I5!F;3>(&%J,S
M,3D"NQ:BG/JN5FKABBNJ'GJ-P7%(/$OLUH:^5E?H#@'W7=87>V7AVBT[>7:R
MN:IJ-]ZJ9:9?2M4V`D*2L@'(E91F.PQ>Z)MJYZ@U91,/,I75TS:&RM4DE2F%
MI&(!P!.,@9;#CA&+\/1&Y,[!_P"]KA=X?UB:_P#[FUVH?22\&9_^!<1?F%_W
MZ,`^R:^_[S;/],KWJ,;N<L-67C[E6VX>M\M3YRQTMQ'M9*5H-A;VJHNS2,2Q
MF$#0T^U200D$DVL@0B@E(7RUBG(/4HZ["X:<0K/Q6T/0<0+`Q<*:T7%#BFVJ
MYA5-5)#;JVE=JPHJ+9*D$IF3F04JV&,%N]J?LMP<MM2II;S669;5F0<R0H25
M(;B)B0(,P<1$I^27]#STXOY`.27]]J^ZSJ+8-IZ8R;L<?1.4+S9*GDQ%_+TX
M;K)EGHV3<BM%3]?C%':PL`8H]GE,DY@X$5.13S7(H[#X@&N(KI<JBSSK[-E;
MKLJLBDCK(6I6V9VG("0"))G%)0K00&WB"H*$O7EX)XRVF+15WCO6,>46SUK&
M#>+C([+UVDI(K^QQS65?1%0AT(:50JL8=RMYZ1E7ZI.Q%0P$!$#'.8YBE,>_
MU.IZR[7%FJN)6MRCIDB2%%(4ZK,DN*`$L`#B,9R`')*KDK:2IB8+@<)(!P)2
M3+K">&.$7KLETQO4SHUQI0J^^M-SF81>5GYN&:NG#E6(>*M&Z;9T\\P`DXY:
M,(D!0*"*IR@8P#L4!QRCM%SN"_/ZBK=124[2P$)44B2D@JF!L!!)&\"<MIB/
MSEQUA5*VW-*IDRQ5/[D\QZ)82BRF(<;TE2*SCDC)]GLM/296N9AX)PQ>!`K,
M"LG`.9:Q2QC(BWDG;IXLJFW1(FB0PH*=0W#MR"^UUQ-3;[5:&V7PIE*US`6"
M"))0G>,)$G$B8Z(]H:>V-4KK=<ET5N'9R,DCES;S/&0PERXQ;JF9A922\S-S
M&5+>Q91$NM#5Q2.6531<QC-^9VQFGJ12G*9!ZDLDHX2!10""EVE$=@$*BXV!
MQ@MT]/14ZWEH"US&(44R*4GE!!"3(;9F*^GH0W3MOE+J%+4<B@3B`9;!R;S/
MDB6L1ZC=[KI8"MO)EE9(6%<A&JKIE$DG85SK*K(E=2!U7:A44VJB8J=O<*90
MV$VP;:MQTO4+;"@"@)ZV7"02-H)E,XSD<)\D;,:UEJ2T&D82I;M&@"6=)"G`
M,"%$S5@9^IO$9!,8<C*OEB$/(U.;2<OC'$'D0F_,5=D_*0"KM`1>%17630,7
MHHBD*9C>W5/46-YE0"VR`1R3D-WZC&\J"\"MHVZLG(5)!*3A(RQ&($Y<L2`@
M[7:3(B@6,1.D9/M2$YP;JDV[14.<Z1B'7.0W_?\``.GAJ6FRO%4TI5M\!B:Y
M7TWW2P,(O+4;--H)ID<ME41,H/=^V@"?=L`DW'SR]_4P;#V[]-^O75R:LM43
M,H`$6I^XTYP"R?!^M$G:O>$$!33.HHH<2$`R93F\P#B(!W"4H&3$#%Z[`80'
M</'V76GLSQZJ@)Q8ZBN3M!,IQW-ER/[N8Q6S9TY.&^VY?**'>&Y0)\\#&^<'
M01V#;\G31ZP9@4N*`/1$#%?+%`PBP=NO5@F4%62D=7#,U$Q(J2:8-9E`Q1'M
M#O;/$EVY]@';;L_R:QZITW1I45%1)G%ZI[JYE`/3@8QI98XK8)OLLYDG<`N\
MM*YQ,+/'[)&L,G2Q%2+J*/DFZ8Q[HQ`(4H*>[F.!`[0';IJJHW+E0-]BR[*G
MY%">'()X@<VR>,5+[[%7@^@$;R<9]/+X8ZNL^EPMER+0<1$XQI;&LN5GD+3[
M2P),G4*!3&<.%WC15/WLL@=4WFD60Z@(CV;[#J'XRJ:;M%@E;KF"E;#X.26X
MB*.L^*''&?.*5E:F/XLA(DG?_P`(Q$=*QX!<UL70&6YBON8&_OI-FDI2JO3;
MH]*6&.W<H(F$\=+N:^]4</(\1%-)$JP%%,"[[?-&FJ:B@J@PUE6TTG^-5(%2
M\9[IX3V[Y19E6R@4*SS=U;=558H)F4H5MGMV''?$3;PZD<&K8[0R[Q,-;;\H
M^2<6:3RG9,IOF;QRWD2%*T1^(9T:VT*YCP%1PY;MDR)*@7RRF*;?50WGN`<9
M36%BA0))"$("RD@SP`GMD`)F>),HD-4VH+>]3M4:&*JG`&=S-C,8>*3@`-IQ
MV3BU^8^1.,[W:)B-H&(<4XREJA69:46<S$[>V3Q"#BECF;$@&3*50AI)^9<_
M:B97RSBD<#?,\!F6RP5%,PAZI>JGJ=UU*4A(;4"H[0LJ!4!RRGB(E7+5U8XN
MH:NM`T@T[1`*P>LF>P*&!F<4F?A$=;CN1BJEC6L7?XYP38PGXV*=*M;=84&M
MJ17,1\I(&E(>PF!X+U,'!&Z;,#(@FF*BHJ&[R%"@N]OK:Z[.4@8N+02M0'8I
MZA&`&52,-LU%6(."9#$F?2M/OVX72T5].RIUM)R.Y1EDDID9B>PE,CB`2J9P
M$6</RGS+;D'%!Q15L?124(Y2^L[PT=1KA9PWW*5-@TD8MFU%H@X;M02$B2ZP
ME*F)E`$P]VKPQH:QT%6F^7:HJU/+20EHE:0-Y*DJ40H@DF92-LA*4HQEMNXT
M]`:)Q;7465*6V,XWX)(`D")#:92QG.+D*3QYQ$22J#(\HBW*M(&[O,:HN01+
MYC-J==-590?,W`#;!N'42@.X:NB&T-`*0O\`%[AOERX81CBW5..*!23([2)?
MJ,4HZ:QP%*4L8S2*8!%/O*W,B(FWV+YI"%$A^[<VQ0+U'?J.HE5KJ!)*B/7_
M`%HDE02GK(E/DBA'^WFJF1@W:SE-3HJBYD'`IE[B=IB)[CWD`3>(%W'QU-1<
M72F2G`$'E"=OZN>(&@AP20A1]>+<VWZKD"D:VA"/*0H*`"<J^.HY*IMLIY#=
M`%93N$!Z=A2B;Y!U7TU;4K5FI`I2\,$IP\)\7U8B[%]M<T)*5GG];EBW#SC3
M"6$C)>)JV3F;0Y2F^LXXJD/$)E4`%@4(I;%V9SHDV$=R('$0#VZNZ=1U[`4E
MXT@7]ZOK*GSAL'V8FLZ<<JY+=IU!*MI'5P];V(N)4*7D#%[I<T'EW(3:*40]
MV.P4D2R*J11535400>*=C=%N*J!#`!$MRGZAMTVH:BXTE:B3]+3]O.<T@I$N
M<3G/EGNC)Z*Q-4F.=PIY,RL#OD9C:``>79$D(+EAD&ALR1S<\A*@H<%Q=6*1
M<OWRJHE$H^[F<'4.@EN0=DT2)I`/38-69RA9J253D);$B8'M>O.,D3J)FW-A
MAR4QLQ))EZOKQM4_AON0T[G5;EDC.,R-U:N3$`(K)J"<J@207XIT^H%W%(6(
M"([`.YMO9K9G#&C-(NM)."NRE^[]V-9\0;\U>A2I:04ALN8\L\ON1/\`R#^[
MRZ_OKG_]J.=?DV[P_P"GO6O]JKK_`#Y^.T=(_P!5+9_(&/S28I#6G8R*&D(:
M0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"
M&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:0AI"&D(:
M0B7UP_PZ<]?H\<AOX'W;7ZG/1N_W/=+_`)2X_P!)54<*\9OTC5W0S^9;CY='
M)[^BMZ7/Z*65O[WF===RQK<;3$&#I)J"05$R'%,W>F)R%,)#!X&()@'M,'RA
MJ)*UH!""0")&1E,<\"`=L>^H8]CT3232`2I)D3*)A,)4R%(`F'Q,(%``$P[>
M.HE+6LS623+>9QX`!LCR!"E\SL#L\[HL!!$@+!L(;*@40!0-AV^=OTUX5$RS
M8Y=D\9=')X(]V;-\>2E*0H%(4I"E#8I2@!2@'R``;``:$E1S*)*C#9@(]"))
M)%$B:2:9#"81(0A2%$3?G")2@`")O;\NHE.+6K,M1*AO)F8\``P$"HI$3\HB
M29$A`0%,I"E3V-^<'8``78WMZ=="XXI?:*42OEGCZL)`"0&$>AFK8Y")F;H&
M33W\M,R*8D)OX]A1*)2[_DU$'WDJ*TK4%G:9F9Z3O@4I(D0)1Z>XL?\`[&U_
M^[H__0U%YU4_XQS]L?=B'LT?>CU(Y!"$3*!$R%3(7\TA"@4I=QWZ%*``'4=2
ME*4M699)4=YQ,1``8#9&0+DE_0\].+^0#DE_?:ONH8#:>F,O\[@[DVS8V1U2
M<"\B7ZT;/6%::"4Q%DONM"5G7[7#^*35J/G1Z\2X*11,$2""O8&VP'4$>3G=
M+W%VXGS^B>2E>"<K2R&RVHR"B!)25C#'EVF0BU/AMO*649<0#]T3OS'D&[#E
MB)Y^/O,9N%=8)\5.1LF#2`EVKUXXQ'E\H(D6=($?R@B,&E]2@<R:>_DG.L9N
MCV)IF[C:S%G3]02ZZIAY!4XD@!H[@<J?%ZTL=H`F<3$@S)D4D$2`,I@R,_7C
MJ$L:<Q'UUEEH#BCR%>1<=&"P9.UN.^8HAV[?G5*HTF63Z2II2K$AV8`BCWAW
M'[0$Y>_8P3W=(.MT`2\U49UJ!(RE0`EBDA(PS'$RP\$36FGFD%:21N(!QD3/
MW(O53N.?)NTPLF2Q<:>035K%/Y.O5Z.D\"9-<,I.26\IPXL<C%/((J+UVZ=+
M'\I1<#LTA,8=S#TU8:BQ7.BJD%BF?S*2E:RE"^JG8$)(3@`)3`Q,5C(4:QIQ
MR0S*ZQ)V!.R9WSQBG$O3[SE$D!DQXX\@&K<I%4TR,L69,.1$3G*54HB%;W.<
M02#H&R?L#<``=7)Q-QJ/QJZ2HS\[3DSX,L;8I=4O^;!#-0TED>+-*)C=A/$1
MRF?!+-[)/O#C5R.>J$(L/?(8FR<=5(%2^6=!'_U&!44OF".Q0$!WVZ@(CJG4
MU<UF0I:@)&[L5R/[F(U:A==<"G:I"E)&$\AZ9'=/FBK(;BEGJO>4Y@N)F?&C
MUH9,Y%T\3Y2]_(H4X*)JMW`P`F;"4!'NV$=_`?#4XM7``9F*B6S!E>S]I$+^
MHUJ3)57.6X*V1,?%,ES'JRB4?/<;>0<O#'$FQI/$F1OK!N0H%+M[Q\.>\&^<
M([`83;AX[:HET%RF5-L5'065CU#EW;8K+=JEAHY*AY*TX>,9>OC$_,?&O%H,
M@U=8-SK`/NP!.C+8AR*U0!0@^7V>^+5\K8Q"[";8.H[ZC:IKRYBBEJ4RY6U^
MY&1TU_L54GK/-H5/[I21Z\2ZA*3D=%`A2XTOB)2E*)CC0[.41*;H0?G1VY3!
MN`B'0"B'348I[NHXT]1/\DOR8JE5%G`F*FG,]GXU'E1^,]3,FE*LFTQAD5Z)
MNT@*#1[&42J%_.(4Q8\>Y,>OSB[`("&^I3M%=CB:>IGS-+]R(V:JTC#SFF`G
MO=;]V+7/L6Y;DRG!WC3)**2IR@5)M0[0;YVP`81`8T1`A0#;;P^3?;5K=H+K
MB1254_R3GDQ<4U=H$@*NE/\`G6_*CC,\09%9E*FVQ/D9`QS=AE4:%:055*!O
MGBJH,1L!3F#P`0WVU;W;5>5DGS6J_P!"YY,33<+4/^E4O^F;\J+_`.,J!D6%
M4274I&0VAC)K)K=]%L*AS'``V`2*Q@$`H%-L(]1^3?KJD78[RH3\SJI_D7/)
MBWOW.UK41YS3G_.H\J+LO:5>&RAWD/3+NO[X9(3%4K%@:BBJ;<IS>6:/,)R`
M'7?82@/Y/"G-AO8Q\SJI_D7/)BG%RMA$E5-/A_E$>[%@\C8^R196JD7*8LN4
MVQ!)=!RT>4>P2S58A"G,<"E7AUB*D7(/:8`#M$?'V:ICIZ]`YA1U<Y_XER8Z
M.K%<U=;4@R%33C_.H'\*,5.9/3CJ>1G\I(O.,F3(.3?LW3562IU)O<(Z*1P0
M$E!!HT@58OW@@E`"F\L`Z!TU<Z5K6%'E#+%86DJ!RJ9<4)CI3LBL=N-BJ6E-
M5%32*2M.67:(V'=XT1P8^F=9JHU")JV![\LBN=%:4>VS!=MFW#U1!'W=!9Q)
MGB#OE50(7KVE(4P;B!`WU<>UU6\YVM12UQ(G()2Z@">V02D2]GGBQO46G>SR
M4];3M#F6U+#9/K3CN7G$'EI3452U3`%DEH[8!]UBL+S4:=3YH]B1V1X-$JIS
M`([@)]QWV^75.;14UG^UT5P0Z#@HH>6!ZJ3[$4/G=PHYII+E0.L_>J6VF?K^
MW%M9#`>;C3L:QM?!G-4@YE%C@Z>U#!V16RT6J)DT5W3V:2BF<6B@4ANX`%3<
M2@(EWZ:G,Z:O9!+"'_-T[EH<!/[%.7'U(E_'3:GDMW%NB4E7W2%M8<Y.;?%0
M6?A!<DQ43C^/O(90BAUCD52H>4=T^\"E,8@.:X[.EV`;8H`(@.W3IUU&S9[\
MHYC35`(E_P`4J1`_P1%:ZK3$L%TLSR.)\HQ;ESP<R47<SO`/*1X@!`\QF>F9
M2:B9,Q2)II'=Q-58/3^9ON<A%2]`$!V#5>S9[L%9A1N9]H)841ZA!'1A%%ET
MVW.3K$CR/#RH[6/XL99I[8H5'B?F2&(FL?N-'X-OHO5BE(<YSNGJM;4D7BBJ
MP_GG4.(^T=5J[=?*C!]FI/2VN0Z```.@"*ANNLM.),NTR1S+1/V<?#'#EL,\
MG'I!(/&CD&=$&HG23:8@R450Z@(BFF*Y%JP!"CW"(*=FX@`!MT'5LJ;!=VVR
MMBG?4Y/>VOUI)]2)OQO;E).5]CM)83<0,>?&(E7_`(]<L7DLI'M^-/)-J@W2
M.)W$9@7*RC9V"_:81.N2FG<.52$'M*3SB%`>HEW#8+K;+%=@QVS],\5'<4*!
M$N02D!SRG&`W._NNO%E3Z$H$P>S(EZH,S%DY3B9R[%15-GQ:Y+IE,<3=P8!R
MP90Q5P$15,)J=Y8N-SCOWG'81U>$V^O("ETSTOV"AL\&SH$64O(V]JG+^R$\
M=_3&US^%RPSEK$[WF>KE+%>5L;*SR>$2Q2F2Z+;J669&._C)]]^IRV>)BTW@
MLS.R>>"'?Y?F$[M@,7?/=#MU39J14-*;1U,LTE,_&WD"<L(LMW=:<[,-F9$Y
MXSY(R^7NG6]Q=[@NWJEE706L\ZJBLC!2BB2R2DDY,FHDH1H8BB9RB`@8!$!`
M=PU^6/CUP;XO7+C?K"X6_2FI'Z!_4]S6VXW;*U;;B%5KQ2M"TL%*D*20I*DD
MI4"""008[HTKJ/3S.F+<T]7T274T+`*2^T""&T@@@JF"#@0<1%*_!%T^Q]I^
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M`$/3[#N-7U/U1\U5WO$/I/IKY1H/A#7EP^"+I]C[3]WI?Z'I]AW&KZGZH^:J
M[WB'TGTU\HT'PAKRX?!%T^Q]I^[TO]#T^P[C5]3]4?-5=[Q#Z3Z:^4:#X0UY
M</@BZ?8^T_=Z7^AZ?8=QJ^I^J/FJN]XA])]-?*-!\(:\N'P1=/L?:?N]+_0]
M/L.XU?4_5'S57>\0^D^FOE&@^$->7#X(NGV/M/W>E_H>GV'<:OJ?JCYJKO>(
M?2?37RC0?"&O+A\$73['VG[O2_T/3[#N-7U/U1\U5WO$/I/IKY1H/A#7EP^"
M+I]C[3]WI?Z'I]AW&KZGZH^:J[WB'TGTU\HT'PAKRX?!%T^Q]I^[TO\`0]/L
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MAZ?8=QJ^I^J/FJN]XA])]-?*-!\(:\N'P1=/L?:?N]+_`$/3[#N-7U/U1\U5
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M&KZGZH^:J[WB'TGTU\HT'PAKRX?!%T^Q]I^[TO\`0]/L.XU?4_5'S57>\0^D
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MCYJKO>(?2?37RC0?"&O+B5EL@)U;@#F^NHPDPK8'^`\]1[&!2C'RDT]D)"IW
M%%@P9Q1$#/W3U\LL0B*1$S**F.4"@(B&_P"E_P!'O8KWIONG:;L^HJ.KH+NT
MY<,[%2RXP\C-<*I2<S3J4+3F20I,TC,DA0F"#'%?%VJI:SB!6U-&XV[3J#,E
MH4%I,F6P9*22#(X'';'SDX[!K7)W'KBKCK/W"KU:(*]\<\8V_&QWV%>.T>ZI
M]ECK3ER\Y5;28I9"J!)YE(L_C7W-5/;RQ%OW!^=KM&->SD9@C&.@_F18'_JG
M>N+_`&:<:_\`"6DNF&8_@P_F18'_`*IWKB_V:<:_\):2Z89C^##^9%@?^J=Z
MXO\`9IQK_P`):2Z89C^##^9%@?\`JG>N+_9IQK_PEI+IAF/X,/YD6!_ZIWKB
M_P!FG&O_``EI+IAF/X,/YD6!_P"J=ZXO]FG&O_"6DNF&8_@P_F18'_JG>N+_
M`&:<:_\`"6DNF&8_@P_F18'_`*IWKB_V:<:_\):2Z89C^##^9%@?^J=ZXO\`
M9IQK_P`):2Z89C^##^9%@?\`JG>N+_9IQK_PEI+IAF/X,5-E/"#O(J/%W%$7
MPL]4^+X^\>L3Y3IUEG93CRFIG.SR^0<PV+++%S6V36H?Q=-H^-G;&V:+%<CY
/QX]%=0O[;V:2A/G$X__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
