<SEC-DOCUMENT>0000915840-12-000025.txt : 20120809
<SEC-HEADER>0000915840-12-000025.hdr.sgml : 20120809
<ACCEPTANCE-DATETIME>20120809161005
ACCESSION NUMBER:		0000915840-12-000025
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20120806
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120809
DATE AS OF CHANGE:		20120809

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEAZER HOMES USA INC
		CENTRAL INDEX KEY:			0000915840
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				582086934
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12822
		FILM NUMBER:		121020492

	BUSINESS ADDRESS:	
		STREET 1:		1000 ABERNATHY ROAD
		STREET 2:		STE 260
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30328
		BUSINESS PHONE:		7708293700

	MAIL ADDRESS:	
		STREET 1:		1000 ABERNATHY ROAD
		STREET 2:		STE 260
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a8kcover.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<a name="s0E83B5D039AAADBEA41C0BB480401180"></a><div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:120%;padding-top:2px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">FORM 8-K</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CURRENT REPORT</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PURSUANT TO SECTION 13 OR 15(d) OF</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Date of Report (Date of earliest reported event): August 6, 2012</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:24pt;"><font style="font-family:inherit;font-size:24pt;font-weight:bold;">BEAZER HOMES USA, INC.</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td width="32%"></td><td width="3%"></td><td width="31%"></td><td width="3%"></td><td width="31%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DELAWARE</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">001-12822</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">54-2086934</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(State or other jurisdiction</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">of incorporation)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Commission</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">File Number)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(IRS Employer</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Identification No.)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1000 Abernathy Road, Suite 260</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Atlanta Georgia 30328</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Address of Principal Executive Offices)</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(770) 829-3700</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Registrant&#8217;s telephone number, including area code)</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">None</font></div><div style="line-height:120%;text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Former name or former address, if changed since last report)</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="6%"></td><td width="94%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="6%"></td><td width="94%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.21875%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="6%"></td><td width="94%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:97.4609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="6%"></td><td width="94%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div></td></tr></table></div></div><br><div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><a name="s0E83B5D039AAADBEA41C0BB480401180"></a><div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><br><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:52.9296875%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="23%"></td><td width="77%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;1.01.</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Entry into a Material Definitive Agreement.</font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 6, 2012, Beazer Homes USA, Inc. (the &#8220;Company&#8221;) entered into a 3</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">rd</sup></font><font style="font-family:inherit;font-size:10pt;">&#32;Extension and Amendment (the &#8220;Amendment&#8221;) to the Company's Amended and Restated Credit Agreement, dated as of August 5, 2009, by and between the Company and Citibank, N.A. (the &#8220;Credit Agreement&#8221;). The Amendment extends the termination date of the Credit Agreement from August 2, 2012 to September 30, 2012.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As previously announced, the Company expects to replace its existing revolving credit facility under the Credit Agreement with a new revolving credit facility. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 8, 2012, the Company entered into amendments for each of its Delayed-Draw Term Loan Facilities with Citibank, N.A. and Deutsche Bank AG Cayman Islands Branch (together, the &#8220;Delayed-Draw Term Loan Amendments&#8221;).  The Delayed-Draw Term Loan Amendments (i) allow the Company to draw down additional funds under each of the Delayed-Draw Term Loan Facilities and (ii) amend the definitions of Commitment Termination Date and Put Date (each as defined in the Delayed-Draw Term Loan Amendments). </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The above descriptions of the Amendment and the Delayed-Draw Term Loan Amendments are qualified in their entirety by reference to the copies of such agreements attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively.</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:54.1015625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="22%"></td><td width="78%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;9.01</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Statements and Exhibits</font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(d) Exhibits</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.6328125%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td width="8%"></td><td width="92%"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.1</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Third Extension and Amendment to the Company's Amended and Restated Credit Agreement, dated as of August 5, 2009, by and between the Company and Citibank, N.A.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.2</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">First Amendment to the Delayed-Draw Term Loan Facility, dated as of November 16, 2010, by and between Beazer Homes USA, Inc. and Citibank, N.A.</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.3</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">First Amendment to the Delayed-Draw Term Loan Facility, dated as of November 16, 2010, by and between Beazer Homes USA, Inc. and Deutsche Bank AG Cayman Islands Branch</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SIGNATURES</font></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">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.</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div><div style="line-height:100%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td width="19%"></td><td width="3%"></td><td width="11%"></td><td width="3%"></td><td width="7%"></td><td width="3%"></td><td width="5%"></td><td width="3%"></td><td width="46%"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BEAZER HOMES USA, INC.</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:  August 9, 2012</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ Kenneth F. Khoury</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Kenneth F. Koury</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Executive Vice President, General</font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Counsel and Chief Administrative Officer</font></div></td></tr></table></div></div><br><div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101.htm
<DESCRIPTION>THIRD AMENDMENT & EXTENSION TO CREDIT AGREEMENT
<TEXT>
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		<title>Exhibit 10.1 </title>
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<a name="sBECA39979B350E963A710BBF7AC837EE"></a><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXTENSION AND AMENDMENT NO.&#160;3 TO <br>AMENDED AND RESTATED CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Extension and Amendment No.&#160;3, dated as of August&#160;2,&#160;2012 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), is entered into by and between Beazer Homes USA, Inc., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and Citibank, N.A., in its capacity as lender (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221;) under the Amended and Restated Credit Agreement, dated as of August 5, 2009 (as amended by the Extension and Amendment No.&#160;1, dated as of August&#160;2,&#160;2010, and the Extension and Amendment No. 2, dated as of August 1, 2011, in each case by and between the Borrower and the Lender and as further amended, supplemented or otherwise modified through the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), among the Borrower, the Lender, the Issuers party thereto and Citibank, N.A., as administrative agent (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Agent</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">W I T N E S S E T H </font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Borrower and the Lender desire to amend the Credit Agreement in order to effect the changes described below;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the parties hereto hereby agree as follows:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Extension</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Pursuant to Section 2.19 of the Credit Agreement, the Borrower hereby requests, and the Lender hereby consents to, the extension of the Termination Date for a period of sixty (60) days from the scheduled Termination Date in effect as of the date hereof.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amendments to the Credit Agreement </font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The definition of &#8220;Termination Date&#8221; set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;Termination Date&#8221; means October 1,&#160;2012, subject, however, to earlier termination in whole of the Aggregate Commitment pursuant to the terms of this Agreement and to extension of such date as provided in Section 2.19.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Conditions Precedent to the Effectiveness of this </font></div></td></tr></table><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">1</font></div></div><hr style="page-break-after:always"><a name="sBECA39979B350E963A710BBF7AC837EE"></a><br><div style="line-height:120%;padding-left:168px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Amendment </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Amendment shall become effective as of the date (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;) when, and only when, each of the following conditions precedent shall have been satisfied or waived by the Lender:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Executed Counterparts</font><font style="font-family:inherit;font-size:12pt;">.  The Agent shall have received this Amendment duly executed by the Borrower, each Guarantor and the Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Corporate and Other Proceedings</font><font style="font-family:inherit;font-size:12pt;">.  All corporate and other proceedings, and all documents, instruments and other legal matters in connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in all respects to the Lender.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Representations and Warranties</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On and as of the Effective Date, after giving effect to this Amendment, the Borrower hereby represents and warrants to the Lender as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">each of the Borrower and the Guarantors has all necessary corporate power and authority to execute and deliver this Amendment;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the execution and delivery by each such party of this Amendment has been duly authorized by all necessary corporate action on its part;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the Amendment has been duly executed and delivered by each such party and constitutes each such party&#8217;s legal, valid and binding obligation, enforceable in accordance with its terms;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the execution and delivery of this Amendment by the Borrower and the Guarantors will not result in a conflict or be in conflict with, or constitute a default under, any instrument, document, decree, order, statute, rule or governmental regulation applicable to such party;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the representations and warranties contained in Article IV of the Credit Agreement are correct in all material respects on and as of the date hereof as though made on and as of the date hereof except to the extent that any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty is correct in all material respects as of such earlier date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, as to the representations contained in Section 4.04 of the Credit Agreement regarding the financial statements, there were material changes that are reflected in the financial </font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">2</font></div></div><hr style="page-break-after:always"><a name="sBECA39979B350E963A710BBF7AC837EE"></a><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">statements dated March 31, 2012 and additional material changes occurred after the filing of the March 31, 2012 financial statements as the result of the issuance by the Borrower of 22,000,000 shares of common stock, 4,600,000 tangible equity units, and $300,000,000 in senior secured notes (due 2018), and the redemption by the Borrower of its senior secured notes (due 2017); and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">no Default or Event of Default has occurred and is continuing, or would result from the extension of the Termination Date contemplated by this Amendment.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Reference to the Effect on the Loan Documents</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">As of the Effective Date, each reference in the Credit Agreement to &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">this Agreement</font><font style="font-family:inherit;font-size:12pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">hereunder</font><font style="font-family:inherit;font-size:12pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">hereof</font><font style="font-family:inherit;font-size:12pt;">,&#8221; &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">herein</font><font style="font-family:inherit;font-size:12pt;">&#8221; or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">thereunder</font><font style="font-family:inherit;font-size:12pt;">&#8221;, &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">thereof</font><font style="font-family:inherit;font-size:12pt;">&#8221; and words of like import), shall mean and be a reference to the Credit Agreement as amended hereby, and this Amendment and the Credit Agreement shall be read together and construed as a single instrument.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly amended hereby or specifically waived above, all of the terms and provisions of the Credit Agreement and all other Loan Documents are and shall remain in full force and effect and are hereby ratified and confirmed.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender Party under any of the Loan Documents, nor constitute a waiver or amendment of any other provision of any of the Loan Documents or for any purpose except as expressly set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">This Amendment is a Loan Document.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Execution in Counterparts</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Amendment may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Signature pages may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are attached to the same document.  Delivery of an executed counterpart by telecopy or electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.</font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">3</font></div></div><hr style="page-break-after:always"><a name="sBECA39979B350E963A710BBF7AC837EE"></a><br><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:168px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:72px;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Section 7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Headings  </font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section headings used in this Amendment are for convenience of reference only, are not part of this Amendment and are not to affect the constructions of, or to be taken into consideration in interpreting, this Amendment.</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; 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Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CITIBANK, N.A</font><font style="font-family:inherit;font-size:12pt;">., </font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;">as Lender</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Timicka C. 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party thereto as Guarantors and the Agent, in favor of the Agent for the benefit of the Lenders under the Credit Agreement.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:160px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">APRIL CORPORATION</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:160px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER ALLIED COMPANIES HOLDINGS, INC.</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:160px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER GENERAL SERVICES, INC.</font></div><div 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REALTY, INC.</font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:160px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">HOMEBUILDERS TITLE SERVICES, INC.</font></div><div style="line-height:120%;text-align:left;padding-left:216px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">HOMEBUILDERS TITLE SERVICES OF VIRGINIA, INC</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:192px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: </font><font 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style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER MORTGAGE CORPORATION</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:192px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:210px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:210px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:    Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:208px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div></div><hr style="page-break-after:always"><a name="sFECCE7A69F1041DA2E910BBF7B4A61B7"></a><br><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ARDEN PARK VENTURES, LLC </font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER CLARKSBURG, LLC </font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER COMMERCIAL HOLDINGS, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER HOMES INVESTMENTS, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER HOMES MICHIGAN, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:184px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">DOVE BARRINGTON DEVELOPMENT LLC</font></div><div style="line-height:120%;text-align:left;padding-left:330px;text-indent:-147px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES CORP., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:330px;text-indent:-115px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:330px;text-indent:-147px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:330px;text-indent:-147px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:330px;text-indent:-147px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER SPE, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES HOLDINGS CORP., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER HOMES INDIANA LLP</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES INVESTMENTS, LLC, &#160;&#160;&#160;&#160;its Managing Partner</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES CORP., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><br><div></div><hr style="page-break-after:always"><a name="sFA7D5B4613E2899FE5480BBF7B73843F"></a><br><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER REALTY SERVICES, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES INVESTMENTS, LLC, its Sole Member </font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES CORP., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PARAGON TITLE, LLC </font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">TRINITY HOMES, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES INVESTMENTS, LLC, a Member </font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES CORP., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-128px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BEAZER HOMES TEXAS, L.P.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES TEXAS HOLDINGS, INC., its General Partner</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-72px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div></div><hr style="page-break-after:always"><a name="sB69484D348C9D87241140BBF7BA5EEF0"></a><br><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BH BUILDING PRODUCTS, LP</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:216px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BH PROCUREMENT SERVICES, LLC, its General Partner</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES TEXAS, L.P., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES TEXAS HOLDINGS, INC., its General Partner</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-140px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:-104px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">BH PROCUREMENT SERVICES, LLC</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES TEXAS, L.P., its Sole Member</font></div><div style="line-height:120%;text-align:left;padding-left:324px;text-indent:-108px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:248px;text-indent:-32px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: BEAZER HOMES TEXAS HOLDINGS, INC., its General Partner</font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:312px;text-indent:-24px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:208px;text-indent:8px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;(SEAL)</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:  Jeffrey Hoza</font></div><div style="line-height:120%;text-align:left;text-indent:240px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:  &#160;&#160;&#160;&#160;Vice President &amp; Treasurer  </font></div><br><div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;"><br></font></div></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit102.htm
<DESCRIPTION>CITIBANK DELAYED DRAW TERM AGREEMENT
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<a name="s0857A1F7E759358B2B4D0BFC3A3F4366"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT NO. 1 TO CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This AMENDMENT NO. 1 TO CREDIT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">is entered into as of August 8, 2012 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and among BEAZER HOMES USA, INC., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and CITIBANK, N.A. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WITNESSETH:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower and the Lender are party to that certain Credit Agreement dated as of November 16, 2010 (as now existing or as may hereafter be amended, supplemented, restated or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;; capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement); </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower has requested that the Lender provide an additional Borrowing in the amount of up to $33,816,000, the proceeds of which will be deposited into the Cash Collateral Account in accordance with the Credit Agreement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower and the Lender have agreed to amend the Credit Agreement to effectuate such additional Borrowing as set forth herein upon the terms and subject to the conditions set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">Section 1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendments to Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">.  Effective as of the Effective Time (as hereinafter defined):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 1.01</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating the definition of &#8220;Commitment Termination Date&#8221; to read in its entirety as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commitment Termination Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the earliest to occur of (i) March 31, 2013 (ii) the first date upon which the Lender shall have funded Loans in respect of three (3) separate Borrowings (including the Borrowing on the Closing Date), (iii) the date upon which a Change of Control occurs and (iv) the date on which the Lender&#8217;s obligation to fund Loans hereunder has terminated pursuant to Section 7.01.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 1.01</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby further amended by adding the following defined terms thereto in the appropriate alphabetical order:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">First Amendment Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means August 8, 2012.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 2.01(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating to read in its entirety as follows:</font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">1</font></div></div><hr style="page-break-after:always"><a name="s0857A1F7E759358B2B4D0BFC3A3F4366"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;(a) Upon the terms and conditions set forth in this Agreement and in reliance upon the representations and warranties of the Borrower herein set forth, the Lender agrees to make (a) a Loan to the Borrower on the Closing Date in the principal amount of $16,295,500, (b) a Loan to the Borrower after the Closing Date and prior to the Commitment Termination Date in a principal amount not to exceed $121,204,500 and (c) a Loan to the Borrower after the First Amendment Date and prior to the Commitment Termination Date in a principal amount not to exceed $33,816,000; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that, in no event may the aggregate principal amount of all Loans at any one time outstanding exceed $137,500,000. Each Loan will be funded directly to the Cash Collateral Account.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsection 2.01(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by replacing the reference to &#8220;two (2)&#8221; with a reference to &#8220;three (3)&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsection 2.06(d)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating to read in its entirety as follows:</font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;(d) The Lender shall have the right to require the Borrower to prepay all or any portion of the Loans on November 14, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Put Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by giving the Borrower written notice of such election no later than thirty (30) days prior to the Put Date. If the Borrower receives such election notice, the Borrower shall prepay, the elected portion of the Loans at 100% of the principal amount thereof, together with accrued interest to the date of such prepayment on the amount prepaid. The Borrower shall make such payment to the Lender on the Put Date.&#8221; </font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Acknowledgment of Security Interest and Reaffirmation of Obligations</font><font style="font-family:inherit;font-size:12pt;">.  Borrower hereby reaffirms the Liens granted pursuant to the Security Documents to the Lender, which Liens, after giving effect to this Amendment, shall continue to secure the Obligations and shall continue to be in full force and effect.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#32;&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Representations and Warranties</font><font style="font-family:inherit;font-size:12pt;">.  The Borrower hereby represents and warrants on and as of the date hereof, which representations and warranties survive execution and delivery of this Amendment, as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">each of the representations and warranties contained in the Credit Agreement and in each other Loan Document is correct in all material respects on and as of the date hereof after giving effect to this Amendment, except to the extent that any such representation and warranty is stated to relate solely to an earlier date, in which case such representation or warranty is correct in all material respects as of such earlier date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, as to the representations contained in Section 4.04 of the Credit Agreement regarding the financial statements, there were material changes that are reflected in the financial statements dated March 31, 2012 and additional material changes occurred after the filing of the March 31, 2012 financial statements as the result of the issuance by the Borrower of 22,000,000 shares of common stock, 4,600,000 tangible equity units, and $300,000,000 in senior secured notes (due 2018), and the redemption by the Borrower of its senior secured notes (due 2017);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the execution, delivery and performance by the Borrower of this </font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">2</font></div></div><hr style="page-break-after:always"><a name="s0857A1F7E759358B2B4D0BFC3A3F4366"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Amendment have been duly authorized by all necessary corporate action and do not and will not (A) require any consent or approval of the stockholders of the Borrower; (B) contravene the Borrower&#8217;s charter or bylaws; (C) violate, in any material respect, any provision of any law, rule, regulation (including, without limitation, Regulations U and X of the Board of Governors of the Federal Reserve System), order, writ, judgment, injunction, decree, determination, or award presently in effect having applicability to the Borrower; (D) result in a breach of or constitute a default under any indenture or loan or credit agreement or any other material agreement, lease, or instrument to which the Borrower is a party or by which it or its properties may be bound or affected; (E) result in, or require, the creation or imposition of any Lien, upon or with respect to any of the properties now owned or hereafter acquired by the Borrower, other than Liens securing the Obligations; and (F) cause the Borrower to be in default, in any material respect, under any such law, rule, regulation, order, writ, judgment, injunction, decree, determination, or award or any such indenture, agreement, lease or instrument;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">this Amendment is a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except to the extent that such enforcement may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditors&#8217; rights generally; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">no Default or Event of Default has occurred and is continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Conditions Precedent</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment shall become effective at the time (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Time</font><font style="font-family:inherit;font-size:12pt;">&#8221;) that all of the following conditions precedent have been satisfied:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Lender shall have received this Amendment duly executed by the Borrower and the Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrower shall have paid to the Lender the then unpaid balance of all reasonable costs and out-of-pocket expenses of the Lender (including reasonable attorneys&#8217; fees of Latham &amp; Watkins LLP) for which invoices have been presented on or prior to the First Amendment Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All representations and warranties contained in this Amendment shall be true and correct in all material respects on the First Amendment Date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that any representation or warranty that is qualified by materiality, &#8220;Material Adverse Change&#8221; or &#8220;Material Adverse Effect&#8221; shall be true and correct in all respects as though made on and as of the First Amendment Date.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">No Default or Event of Default shall have occurred and be continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reference to and Effect Upon the Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly modified hereby, all terms, conditions, covenants, representations and warranties contained in the Credit Agreement and the other Loan Documents, and all rights of the Lender and all of the Obligations, shall remain in full force and effect.  The Borrower hereby confirms that no such party has any right of setoff, recoupment or </font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">3</font></div></div><hr style="page-break-after:always"><a name="s0857A1F7E759358B2B4D0BFC3A3F4366"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">other offset or any defense, claim or counterclaim with respect to any of the Obligations, the Credit Agreement or any other Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly set forth herein, the effectiveness of this Amendment shall not directly or indirectly (i) create any obligation to make any further Loans or to defer any enforcement action after the occurrence of any Default or Event of Default, (ii) constitute a consent or waiver of any past, present or future violations of any provisions of the Credit Agreement or any other Loan Document, (iii) amend, modify or operate as a waiver of any provision of the Credit Agreement or any other Loan Document or any right, power or remedy of the Lender, (iv) constitute a consent to any merger or other transaction or to any sale, restructuring or refinancing transaction, or (v)&#160;constitute a course of dealing or other basis for altering any Obligations or any other contract or instrument.  Except as expressly set forth herein, the Lender reserves all of its rights, powers, and remedies under the Credit Agreement, the other Loan Documents and applicable law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">From and after the Effective Time, (i) the term &#8220;Agreement&#8221; in the Credit Agreement and all references to the Credit Agreement in any Loan Document shall mean the Credit Agreement as amended or modified hereby, and (ii) the term &#8220;Loan Documents&#8221; in the Credit Agreement and the other Loan Documents shall include, without limitation, this Amendment and any other agreement, instrument or other document executed and/or delivered in connection herewith that has been designated therein as a Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">This Amendment shall not be deemed or construed to be a satisfaction, reinstatement, novation or release of the Credit Agreement or any other Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">This Amendment shall constitute a Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment shall be construed in accordance with and governed by the law of the State of New York, without regard to principles of conflicts of law (other than Section 5-1401 of the General Obligations Law of the State of New York).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Execution in Counterparts</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic image scan transmission (e.g., &#8220;pdf&#8221; via email) of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. The Lender may also require that any such documents and signatures delivered by telecopier be confirmed by a manually-signed original thereof; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[SIGNATURE PAGES TO FOLLOW] </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">4</font></div></div><hr style="page-break-after:always"><a name="sF0280AB1D244AC0AC3C10BFC3A71DC99"></a><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, each of the undersigned have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first above written.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BORROWER</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">BEAZER HOMES USA, INC., a Delaware corporation</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name: </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Jeffrey Hoza&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vice President &amp; Treasurer&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div></div><hr style="page-break-after:always"><a name="sFFC283C28601E956E7BA0BFC3A8FC947"></a><br><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">CITIBANK, N.A.,</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">as Lender</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Timicka C. Anderson&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Timicka C. Anderson&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vice President &amp; Director&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:center;text-indent:1px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;text-indent:1px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div></div>	</body>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103.htm
<DESCRIPTION>DEUTSCHE BANK DELAYED DRAW TERM AGREEMENT
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		<title>Exhibit 10.3</title>
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<a name="sB7E046ED054042D998650BFD249F7EF0"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AMENDMENT NO. 1 TO CREDIT AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This AMENDMENT NO. 1 TO CREDIT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">is entered into as of August 8, 2012 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and among BEAZER HOMES USA, INC., a Delaware corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and DEUTSCHE BANK AG CAYMAN ISLANDS BRANCH (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lender</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WITNESSETH:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower and the Lender are party to that certain Credit Agreement dated as of November 16, 2010 (as now existing or as may hereafter be amended, supplemented, restated or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;; capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement); </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower has requested that the Lender provide an additional Borrowing in the amount of up to $33,816,000, the proceeds of which will be deposited into the Cash Collateral Account in accordance with the Credit Agreement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, the Borrower and the Lender have agreed to amend the Credit Agreement to effectuate such additional Borrowing as set forth herein upon the terms and subject to the conditions set forth herein.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;padding-right:96px;">Section 1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendments to Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">.  Effective as of the Effective Time (as hereinafter defined):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 1.01</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating the definition of &#8220;Commitment Termination Date&#8221; to read in its entirety as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Commitment Termination Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the earliest to occur of (i) March 31, 2013 (ii) the first date upon which the Lender shall have funded Loans in respect of three (3) separate Borrowings (including the Borrowing on the Closing Date), (iii) the date upon which a Change of Control occurs and (iv) the date on which the Lender&#8217;s obligation to fund Loans hereunder has terminated pursuant to Section 7.01.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 1.01</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby further amended by adding the following defined terms thereto in the appropriate alphabetical order:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">First Amendment Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means August 8, 2012.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 2.01(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating to read in its entirety as follows:</font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">1</font></div></div><hr style="page-break-after:always"><a name="sB7E046ED054042D998650BFD249F7EF0"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;(a) Upon the terms and conditions set forth in this Agreement and in reliance upon the representations and warranties of the Borrower herein set forth, the Lender agrees to make (a) a Loan to the Borrower on the Closing Date in the principal amount of $16,295,500, (b) a Loan to the Borrower after the Closing Date and prior to the Commitment Termination Date in a principal amount not to exceed $121,204,500 and (c) a Loan to the Borrower after the First Amendment Date and prior to the Commitment Termination Date in a principal amount not to exceed $33,816,000; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that, in no event may the aggregate principal amount of all Loans at any one time outstanding exceed $137,500,000. Each Loan will be funded directly to the Cash Collateral Account.&#8221;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsection 2.01(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by replacing the reference to &#8220;two (2)&#8221; with a reference to &#8220;three (3)&#8221;.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Subsection 2.06(d)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Credit Agreement is hereby amended by amending and restating to read in its entirety as follows:</font></div><div style="line-height:120%;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;(d) The Lender shall have the right to require the Borrower to prepay all or any portion of the Loans on November 14, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Put Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by giving the Borrower written notice of such election no later than thirty (30) days prior to the Put Date. If the Borrower receives such election notice, the Borrower shall prepay, the elected portion of the Loans at 100% of the principal amount thereof, together with accrued interest to the date of such prepayment on the amount prepaid. The Borrower shall make such payment to the Lender on the Put Date.&#8221; </font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Acknowledgment of Security Interest and Reaffirmation of Obligations</font><font style="font-family:inherit;font-size:12pt;">.  Borrower hereby reaffirms the Liens granted pursuant to the Security Documents to the Lender, which Liens, after giving effect to this Amendment, shall continue to secure the Obligations and shall continue to be in full force and effect.  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#32;&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Representations and Warranties</font><font style="font-family:inherit;font-size:12pt;">.  The Borrower hereby represents and warrants on and as of the date hereof, which representations and warranties survive execution and delivery of this Amendment, as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">each of the representations and warranties contained in the Credit Agreement and in each other Loan Document is correct in all material respects on and as of the date hereof after giving effect to this Amendment, except to the extent that any such representation and warranty is stated to relate solely to an earlier date, in which case such representation or warranty is correct in all material respects as of such earlier date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, as to the representations contained in Section 4.04 of the Credit Agreement regarding the financial statements, there were material changes that are reflected in the financial statements dated March 31, 2012 and additional material changes occurred after the filing of the March 31, 2012 financial statements as the result of the issuance by the Borrower of 22,000,000 shares of common stock, 4,600,000 tangible equity units, and $300,000,000 in senior secured notes (due 2018), and the redemption by the Borrower of its senior secured notes (due 2017);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the execution, delivery and performance by the Borrower of this </font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">2</font></div></div><hr style="page-break-after:always"><a name="sB7E046ED054042D998650BFD249F7EF0"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Amendment have been duly authorized by all necessary corporate action and do not and will not (A) require any consent or approval of the stockholders of the Borrower; (B) contravene the Borrower&#8217;s charter or bylaws; (C) violate, in any material respect, any provision of any law, rule, regulation (including, without limitation, Regulations U and X of the Board of Governors of the Federal Reserve System), order, writ, judgment, injunction, decree, determination, or award presently in effect having applicability to the Borrower; (D) result in a breach of or constitute a default under any indenture or loan or credit agreement or any other material agreement, lease, or instrument to which the Borrower is a party or by which it or its properties may be bound or affected; (E) result in, or require, the creation or imposition of any Lien, upon or with respect to any of the properties now owned or hereafter acquired by the Borrower, other than Liens securing the Obligations; and (F) cause the Borrower to be in default, in any material respect, under any such law, rule, regulation, order, writ, judgment, injunction, decree, determination, or award or any such indenture, agreement, lease or instrument;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">this Amendment is a legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except to the extent that such enforcement may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditors&#8217; rights generally; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">no Default or Event of Default has occurred and is continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Conditions Precedent</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment shall become effective at the time (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Time</font><font style="font-family:inherit;font-size:12pt;">&#8221;) that all of the following conditions precedent have been satisfied:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Lender shall have received this Amendment duly executed by the Borrower and the Lender.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrower shall have paid to the Lender the then unpaid balance of all reasonable costs and out-of-pocket expenses of the Lender (including reasonable attorneys&#8217; fees of Latham &amp; Watkins LLP) for which invoices have been presented on or prior to the First Amendment Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">All representations and warranties contained in this Amendment shall be true and correct in all material respects on the First Amendment Date; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that any representation or warranty that is qualified by materiality, &#8220;Material Adverse Change&#8221; or &#8220;Material Adverse Effect&#8221; shall be true and correct in all respects as though made on and as of the First Amendment Date.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">No Default or Event of Default shall have occurred and be continuing.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Section 5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Reference to and Effect Upon the Credit Agreement</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly modified hereby, all terms, conditions, covenants, representations and warranties contained in the Credit Agreement and the other Loan Documents, and all rights of the Lender and all of the Obligations, shall remain in full force and effect.  The Borrower hereby confirms that no such party has any right of setoff, recoupment or </font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">3</font></div></div><hr style="page-break-after:always"><a name="sB7E046ED054042D998650BFD249F7EF0"></a><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><br><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">other offset or any defense, claim or counterclaim with respect to any of the Obligations, the Credit Agreement or any other Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as expressly set forth herein, the effectiveness of this Amendment shall not directly or indirectly (i) create any obligation to make any further Loans or to defer any enforcement action after the occurrence of any Default or Event of Default, (ii) constitute a consent or waiver of any past, present or future violations of any provisions of the Credit Agreement or any other Loan Document, (iii) amend, modify or operate as a waiver of any provision of the Credit Agreement or any other Loan Document or any right, power or remedy of the Lender, (iv) constitute a consent to any merger or other transaction or to any sale, restructuring or refinancing transaction, or (v)&#160;constitute a course of dealing or other basis for altering any Obligations or any other contract or instrument.  Except as expressly set forth herein, the Lender reserves all of its rights, powers, and remedies under the Credit Agreement, the other Loan Documents and applicable law.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">From and after the Effective Time, (i) the term &#8220;Agreement&#8221; in the Credit Agreement and all references to the Credit Agreement in any Loan Document shall mean the Credit Agreement as amended or modified hereby, and (ii) the term &#8220;Loan Documents&#8221; in the Credit Agreement and the other Loan Documents shall include, without limitation, this Amendment and any other agreement, instrument or other document executed and/or delivered in connection herewith that has been designated therein as a Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">This Amendment shall not be deemed or construed to be a satisfaction, reinstatement, novation or release of the Credit Agreement or any other Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">This Amendment shall constitute a Loan Document.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment shall be construed in accordance with and governed by the law of the State of New York, without regard to principles of conflicts of law (other than Section 5-1401 of the General Obligations Law of the State of New York).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Execution in Counterparts</font><font style="font-family:inherit;font-size:12pt;">.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic image scan transmission (e.g., &#8220;pdf&#8221; via email) of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. The Lender may also require that any such documents and signatures delivered by telecopier be confirmed by a manually-signed original thereof; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the failure to request or deliver the same shall not limit the effectiveness of any document or signature delivered by telecopier.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[SIGNATURE PAGES TO FOLLOW] </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><br><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;">4</font></div></div><hr style="page-break-after:always"><a name="sD4301497705516C5F9260BFD24D180EE"></a><br><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, each of the undersigned have caused this Amendment to be duly executed and delivered by their respective officers thereunto duly authorized as of the date first above written.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">BORROWER</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">BEAZER HOMES USA, INC., a Delaware corporation</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By: &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">/s/ Jeffrey Hoza&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Jeffrey Hoza&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Title:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vice President &amp; 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