-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BI6Xnl923+cBiX0F7GG2odQEyCDMRILbv/6WqBboZpHjTz+R0wItLIm1xMV5fuNL
 SZLhFf1B/shaa69rt9cwQA==

<SEC-DOCUMENT>0001206774-10-000202.txt : 20100201
<SEC-HEADER>0001206774-10-000202.hdr.sgml : 20100201
<ACCEPTANCE-DATETIME>20100201163100
ACCESSION NUMBER:		0001206774-10-000202
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20100201
DATE AS OF CHANGE:		20100201
EFFECTIVENESS DATE:		20100201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOVNANIAN ENTERPRISES INC
		CENTRAL INDEX KEY:			0000357294
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				221851059
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08551
		FILM NUMBER:		10563760

	BUSINESS ADDRESS:	
		STREET 1:		110 WEST FRONT STREET
		STREET 2:		PO BOX 500
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701
		BUSINESS PHONE:		7327477800

	MAIL ADDRESS:	
		STREET 1:		110 WEST FRONT STREET PO BOX 500
		STREET 2:		110 WEST FRONT STREET  PO BOX 500
		CITY:			RED BANK
		STATE:			NJ
		ZIP:			07701
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>hovnanian_defa14a.htm
<DESCRIPTION>DEFINITIVE ADDITIONAL PROXY SOLICITING MATERIALS
<TEXT>
<html>
<head>
    <title>hovnanian_defa14a.htm</title>
<!-- Licensed to: DG3 I Docs, Inc.-->
<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
<!-- Copyright 1995 - 2009 Thomson Reuters. All rights reserved. -->
</head>
<body bgcolor="#ffffff"><br>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">SCHEDULE 14A
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">(Rule 14a-101)
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">INFORMATION REQUIRED
IN PROXY STATEMENT </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">SCHEDULE 14A
INFORMATION </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">Proxy Statement
Pursuant to Section 14(a) of the<br>Securities Exchange Act of 1934 (Amendment
No. )</font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">Filed by the Registrant
[x]<br></font><font size="2" style="FONT-FAMILY: serif">Filed by a Party other
than the Registrant [_]<br></font><font size="2" style="FONT-FAMILY: serif"><br>Check the appropriate box:<br></font><font size="2" style="FONT-FAMILY: serif">[_]&#160; Preliminary Proxy
Statement&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160; [_] Soliciting Material Under
Rule<br></font><font size="2" style="FONT-FAMILY: serif">[_]&#160; Confidential,
For Use of
the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
14a-12 <br>&#160;&#160;&#160;&#160;&#160;&#160; Commission Only (as permitted
<br>&#160;&#160;&#160;&#160;&#160;&#160; by Rule 14a-6(e)(2))
<br>[_]&#160;&#160;Definitive Proxy Statement <br>[x]&#160; Definitive
Additional Materials</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">Hovnanian Enterprises,
Inc.<br></font>------------------------------------------------------------------------------------------------------------------------------------------------------</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">(Name of Registrant as
Specified In Its Charter)</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">------------------------------------------------------------------------------------------------------------------------------------------------------</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">(Name of Person(s)
Filing Proxy Statement, if Other Than the Registrant)</font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">Payment of Filing Fee
(Check the appropriate box):<br></font><font size="2" style="FONT-FAMILY: serif">[x]&#160; No fee required.<br></font><font size="2" style="FONT-FAMILY: serif">[_] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and
0-11.</font><font style="FONT-FAMILY: serif"> </font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: serif">1)&#160; Title of
each class of securities to which transaction applies:</font><font style="FONT-FAMILY: serif">
<br>____________________________________________________________________________________<br></font><font size="2" style="FONT-FAMILY: serif">2)&#160; Aggregate number of securities to
which transaction applies:</font><font style="FONT-FAMILY: serif">
<br></font><font size="2" style="FONT-FAMILY: serif">3)&#160; Per unit price or
other underlying value of transaction computed pursuant</font><font style="FONT-FAMILY: serif"> </font><font size="2" style="FONT-FAMILY: serif">to
Exchange Act Rule 0-11 (set forth the <br>&#160;&#160;&#160;&#160; amount on
which the filing fee&#160;is</font><font style="FONT-FAMILY: serif">
</font><font size="2" style="FONT-FAMILY: serif">calculated and state how it was
determined):</font><font style="FONT-FAMILY: serif"> <br></font><font size="2" style="FONT-FAMILY: serif">4)&#160; Proposed maximum aggregate value of
transaction:</font><font style="FONT-FAMILY: serif">
<br>____________________________________________________________________________________<br></font><font size="2" style="FONT-FAMILY: serif">5)&#160; Total fee paid:<br></font><font size="2" style="FONT-FAMILY: serif">[_] Fee paid previously with preliminary
materials:</font><font style="FONT-FAMILY: serif"> <br></font><font size="2" style="FONT-FAMILY: serif">[_] Check box if any part of the fee is offset
as provided by Exchange Act Rule</font><font style="FONT-FAMILY: serif">
</font><font size="2" style="FONT-FAMILY: serif">0-11(a)(2) and identify the
filing for which<br>&#160;&#160;&#160;&#160; &#160;the offsetting fee was paid
</font><font size="2" style="FONT-FAMILY: serif">previously. Identify the previous
filing by registration statement number,</font><font style="FONT-FAMILY: serif">
</font><font size="2" style="FONT-FAMILY: serif">or the form
or<br>&#160;&#160;&#160;&#160;&#160; schedule and the date of its
filing.</font><font style="FONT-FAMILY: serif">
<br>____________________________________________________________________________________<br></font><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;1) Amount
previously paid:<br><font size="3">____________________________________________________________________________________</font><br></font><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;2) Form,
Schedule or Registration Statement No.:</font><font style="FONT-FAMILY: serif">
<br>____________________________________________________________________________________<br></font><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;3) Filing
Party:<br><font size="3">____________________________________________________________________________________</font><br></font><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;4) Date
Filed:</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <div style="PADDING-RIGHT: 0.5in; PADDING-LEFT: 0.5in; WIDTH: 100%; HEIGHT: 40%">
        <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif"><font size="5">*** Exercise Your <font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font style="FONT-FAMILY: serif">Right</font></font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="5" style="FONT-FAMILY: serif"> to Vote ***<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">Important Notice</font></font><font style="FONT-FAMILY: serif"> </font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">Regarding the Availability of Proxy Materials for
the<br>Shareholder Meeting to be held on March 16,
2010</font></font></font></font></div>
        <div>&#160;</div>
        <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
              <td valign="top" width="1%">
              </td>
              <td valign="top" width="50%">
                <div align="center"><br><font style="DISPLAY: inline; FONT-WEIGHT: bold">HOVNANIAN ENTERPRISES,
      INC.</font></div>
                <div>&#160;</div>
              </td>
              <td align="left" width="49%" style="BORDER-RIGHT: #000000 1pt solid; PADDING-RIGHT: 3pt; BORDER-TOP: #000000 1pt solid; PADDING-LEFT: 6pt; PADDING-BOTTOM: 3pt; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 3pt; BORDER-BOTTOM: #000000 1pt solid">
                <div align="center"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Meeting
      Information</font></font></div>
                <div>&#160;</div>
                <div style="MARGIN-TOP: -15pt" align="left"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Meeting
      Type:</font></font>&#160;&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: serif">Annual<br></font><font size="2"><font style="DISPLAY: inline; FONT-WEIGHT: bold">For holders as of:&#160;
      &#160;</font>January 19, 2010</font><font size="2" style="FONT-FAMILY: serif"><br></font><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Date:</font></font>&#160;&#160;&#160;<font size="2">March 16, 2010<font size="3">&#160;&#160; </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">Time:</font> 10:30
      a.m.</font></div>
                <div>&#160;</div>
                <div style="MARGIN-TOP: -15pt; MARGIN-LEFT: 48pt; TEXT-INDENT: -48pt" align="left"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Location:</font><font size="3">&#160;&#160;&#160;<font size="2">The offices of Simpson Thacher &amp;
      Bartlett LLP<br>425 Lexington Avenue,<br>New York, N.Y.
      10017</font></font></font></div>
                <div>&#160;</div>
              </td>
            </tr><tr>
              <td width="1%">&#160;</td>
              <td valign="top" width="50%"><img src="hovnanian_defa14ax1x1.jpg" alt=""><br><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="1"><font style="FONT-FAMILY: arial">Hovnanian Enterprised, Inc.<br>110 West Front
      Street<br>P. O. Box 500<br>Red Bank, NJ 07701</font></font></font></td>
              <td width="49%">
                <div>
                  <div style="PADDING-TOP: 3pt" align="justify"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">1. This communication presents
      only an overview of the more complete proxy materials that are available
      to you on the Internet. We encourage you to access and review all of the
      important information contained in the proxy materials before
      voting.<br><br></font></font><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">2. The proxy statement and
      annual report to security holders are available at </font><font style="DISPLAY: inline; FONT-WEIGHT: bold">www.proxyvote.com</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">.<br><br></font></font><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">3. If you want to receive a
      paper or e-mail copy of these documents, you must request one. There is no
      charge to you for requesting a copy. Please make your request for a copy
      as instructed below on or before March 2, 2010 to facilitate timely
      delivery.</font></font></div>
                </div>
              </td>
            </tr><tr>
              <td width="1%">
              </td>
              <td width="50%">
              </td>
              <td width="49%" bgcolor="#000000" style="PADDING-RIGHT: 3pt; PADDING-LEFT: 3pt; PADDING-BOTTOM: 3pt; PADDING-TOP: 3pt">
                <div align="left"><font size="2" style="FONT-FAMILY: serif"><font color="#ffffff"><font style="DISPLAY: inline; FONT-WEIGHT: bold">See the
      reverse side of this notice to obtain proxy materials and voting
      instructions.</font></font></font></div>
              </td>
            </tr></table>
      </div><img src="hovnanian_defa14ax1x2.jpg" alt=""><br clear="all"></div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <div style="PADDING-RIGHT: 0.5in; PADDING-LEFT: 0.5in; FLOAT: right; WIDTH: 98%; HEIGHT: 40%">
        <center><font size="5" style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif"><font size="5">&#8212;<font style="DISPLAY: inline; FONT-WEIGHT: bold"> Before
You Vote </font>&#8212;</font><br>How to Access the Proxy
Materials</font></font></center>
        <table border="0" cellpadding="0" cellspacing="0" width="100%" style="PADDING-RIGHT: 20pt; PADDING-LEFT: 20pt; TEXT-ALIGN: justify; ">
<tr>
              <td width="100%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 5pt; TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Proxy Materials Available to VIEW or
      RECEIVE:<br></font></font><font size="2" style="FONT-FAMILY: serif">NOTICE
      AND PROXY
      STATEMENT&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      ANNUAL REPORT</font></div>
                <div style="TEXT-ALIGN: justify"><font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">How to View
      Online:</font><br>Have the 12-Digit Control Number available (located on
      the following page) and visit: </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">www.proxyvote.com.</font></font></div>
                <div style="TEXT-ALIGN: justify"><font size="2"><font style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">How to Request and Receive a
      PAPER or E-MAIL Copy:</font><br>If you want to receive a paper or e-mail
      copy of these documents or proxy materials for future meetings, you must
      request one. There is NO charge for requesting a copy. Please choose one
      of the following methods to make your request:</font></font></div>
                <div style="MARGIN-LEFT: 80px" align="left"><font size="2" style="FONT-FAMILY: serif">1)&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">BY
      INTERNET</font>:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;www.proxyvote.com<br>2)&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">BY
      TELEPHONE</font>:&#160;&#160;&#160;&#160;1-800-579-1639<br>3)&#160;<font style="DISPLAY: inline; FONT-STYLE: italic">BY
      E-MAIL*</font>:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;sendmaterial@proxyvote.com</font></div>
              </td>
            </tr><tr>
              <td width="100%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 3pt; TEXT-ALIGN: justify">
                <div style="MARGIN-LEFT: 12pt; TEXT-INDENT: -12pt; TEXT-ALIGN: justify"><font size="2">*&#160;&#160;&#160;If requesting materials by e-mail, please send a
      blank e-mail with the 12-Digit Control Number (located on the following
      page) in the subject line.</font></div>
              </td>
            </tr><tr style="PADDING-BOTTOM: 5pt; TEXT-ALIGN: justify;">
              <td width="100%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: justify">
                <div style="PADDING-TOP: 3pt; TEXT-ALIGN: justify"><font size="2">Requests,
      instructions and other inquiries sent to this e-mail address will NOT be
      forwarded to your investment advisor. Please make the request as
      instructed above on or before March 2, 2010 to facilitate timely
      delivery.</font></div>
              </td>
            </tr></table>
        <div align="center"><font size="2" style="FONT-FAMILY: serif">&#160;</font></div>
        <div align="center"><font size="2" style="FONT-FAMILY: serif"><font size="5">&#8212; <font style="DISPLAY: inline; FONT-WEIGHT: bold">How To Vote </font>&#8212;</font><br>Please
Choose One of the Following Voting Methods</font> </div>
        <table border="0" cellpadding="0" cellspacing="0" width="100%" style="PADDING-RIGHT: 20pt; PADDING-LEFT: 20pt; ">
<tr>
              <td width="100%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; PADDING-BOTTOM: 5pt; BORDER-LEFT: #000000 1pt solid; PADDING-TOP: 5pt; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: justify">
                <div style="TEXT-ALIGN: justify"><font size="2"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vote In Person: </font>Please
      call our Investor Relations department at 1-800-815-9680 for directions to
      the Company's 2010 Annual Meeting. Please check the meeting materials for
      special requirements for meeting attendance.&#160;<br><br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2">Vote By Internet:
      </font></font><font size="2">To vote now by Internet, go to <font style="DISPLAY: inline; FONT-STYLE: italic">www.proxyvote.com</font>. Have
      the 12 Digit Control Number available and follow the
      instructions</font><font size="2">.</font></div>
                <div style="TEXT-ALIGN: justify">&#160;</div>
                <div style="TEXT-ALIGN: justify"><font size="2"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vote By Mail: </font>You can
      vote by mail by requesting a paper copy of the materials, which will
      include a proxy card.</font></div>
                <div style="TEXT-ALIGN: justify">&#160;</div>
              </td>
            </tr></table>
      </div>
      <div align="left">
      </div>
      <div>&#160;</div>
      <div>
      </div>&#160;<br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br><img src="hovnanian_defa14ax2x1.jpg" alt=""></div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <div style="PADDING-RIGHT: 4pt; PADDING-LEFT: 4pt; FONT-SIZE: 8pt; FLOAT: right; PADDING-BOTTOM: 4pt; WIDTH: 98%; PADDING-TOP: 4pt; FONT-FAMILY: serif; TEXT-ALIGN: justify"><br clear="all">
        <table border="0" cellpadding="0" cellspacing="0" width="49%" style="FONT-SIZE: 8pt; FLOAT: left; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
              <td colspan="5" width="99%">&#160; </td>
            </tr><tr>
              <td colspan="4" width="77%" style="BORDER-RIGHT: #000000 1.5pt solid; PADDING-RIGHT: 2pt; BORDER-TOP: #000000 1.5pt solid; PADDING-LEFT: 2pt; PADDING-BOTTOM: 2pt; BORDER-LEFT: #000000 1.5pt solid; PADDING-TOP: 2pt; BORDER-BOTTOM: #000000 1.5pt solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Voting Items</font></td>
              <td nowrap width="22%">&#160;</td>
            </tr><tr>
              <td colspan="4" width="77%">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold">Proposals to be
      voted on at our Annual Meeting are listed below along with the Board of
      Director's recommendations.&#160;</font></div>
              </td>
              <td nowrap width="22%">
              </td>
            </tr><tr style="PADDING-TOP: 3pt;">
              <td colspan="4" width="76%">
                <div><font style="DISPLAY: inline; FONT-WEIGHT: bold">The Board of
      Directors recommends that you vote FOR each of the nominees listed in
      proposal 1 and FOR proposals 2 and 3.</font></div>
              </td>
              <td nowrap width="22%">&#160;</td>
            </tr><tr style="PADDING-TOP: 3pt;">
              <td colspan="4" width="77%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vote on Directors</font></td>
              <td nowrap width="22%">
              </td>
            </tr><tr style="PADDING-TOP: 3pt; TEXT-ALIGN: justify">
              <td nowrap width="1%"><font size="1" style="FONT-FAMILY: serif">1.&#160;&#160;&#160;&#160; </font></td>
              <td colspan="3" width="76%">
                <div align="left"><font size="1" style="FONT-FAMILY: serif">Election of
      directors.</font></div>
              </td>
              <td nowrap width="22%">
              </td>
            </tr><tr style="PADDING-TOP: 3pt;">
              <td nowrap width="1%">&#160;&#160;&#160;&#160;</td>
              <td colspan="3" width="76%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Nominees:</font></td>
              <td nowrap width="22%">&#160;</td>
            </tr><tr style="PADDING-TOP: 3pt;">
              <td nowrap width="1%">&#160;</td>
              <td nowrap valign="top" width="1%">01)&#160;&#160;</td>
              <td valign="top" width="38%">Ara K. Hovnanian</td>
              <td colspan="2" valign="top" width="59%">05)&#160;&#160;&#160;John J.
    Robbins</td>
            </tr><tr>
              <td nowrap width="1%">
              </td>
              <td nowrap valign="top" width="1%">02)</td>
              <td valign="top" width="38%">Robert B. Coutts&#160; </td>
              <td colspan="2" valign="top" width="59%">06)&#160;&#160;&#160;J. Larry Sorsby
    &#160;</td>
            </tr><tr>
              <td nowrap width="1%">
              </td>
              <td nowrap valign="top" width="1%">03)</td>
              <td valign="top" width="38%">Edward A. Kangas&#160;&#160;</td>
              <td colspan="2" valign="top" width="59%">07)&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">Stephen D. Weinroth</font></td>
            </tr><tr>
              <td nowrap width="1%">
              </td>
              <td nowrap valign="top" width="1%">04)</td>
              <td valign="top" width="38%">Joseph A. Marengi&#160; </td>
              <td valign="top" width="37%">
              </td>
              <td nowrap width="22%">
              </td>
            </tr></table>
        <table border="0" cellpadding="0" cellspacing="0" width="49%" style="FONT-SIZE: 8pt; FLOAT: right; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
              <td colspan="3" width="91%">&#160;</td>
              <td width="9%">
              </td>
            </tr><tr>
              <td colspan="2" width="82%">&#160;</td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr>
              <td colspan="2" width="82%">&#160;</td>
              <td align="right" nowrap width="9%">
                <div style="BORDER-RIGHT: #000000 2.25pt solid; BORDER-TOP: #000000 2.25pt solid; WIDTH: 24pt; HEIGHT: 24pt">
                </div>
              </td>
              <td nowrap width="9%">&#160;&#160;&#160;&#160;&#160;&#160;&#160; </td>
            </tr><tr valign="bottom">
              <td colspan="2" valign="top" width="82%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;<br>&#160; </font></td>
              <td nowrap valign="top" width="9%">&#160;&#160;&#160;&#160;</td>
              <td nowrap valign="top" width="9%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="2%">
              </td>
              <td valign="top" width="80%">&#160; </td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr valign="bottom">
              <td nowrap valign="top" width="2%">&#160;&#160;</td>
              <td valign="top" width="80%">&#160;</td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="2%">
              </td>
              <td valign="top" width="80%">&#160;</td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="2%">
              </td>
              <td valign="top" width="80%">&#160;</td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="2%">
              </td>
              <td valign="top" width="80%">&#160;</td>
              <td nowrap width="9%">
              </td>
              <td nowrap width="9%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="2%">
              </td>
              <td colspan="2" valign="top" width="89%" style="PADDING-RIGHT: 12pt">
              </td>
              <td valign="top" width="9%">
              </td>
            </tr></table><br clear="all">&#160;

        <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 8pt; FLOAT: left; FONT-FAMILY: serif; BORDER-COLLAPSE: collapse; TEXT-ALIGN: justify; ">
<tr>
              <td colspan="4" width="77%"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Vote on Proposal</font></td>
              <td nowrap width="22%">
              </td>
            </tr><tr>
              <td nowrap width="1%">&#160;</td>
              <td nowrap valign="top" width="1%">
              </td>
              <td colspan="2" valign="top" width="75%">
              </td>
              <td nowrap width="22%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="1%"><font size="1">2.&#160;&#160;&#160;&#160;
      </font></td>
              <td colspan="4" valign="top" width="98%">Ratification of the selection of
      Deloitte &amp; Touche LLP as our independent registered public accounting
      firm for fiscal 2010.</td>
            </tr><tr>
              <td nowrap valign="top" width="1%">
              </td>
              <td nowrap valign="top" width="1%">
              </td>
              <td colspan="2" valign="top" width="75%">&#160;</td>
              <td nowrap width="22%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="1%"><font size="1">3.&#160;&#160;&#160;&#160;
      </font></td>
              <td colspan="4" valign="top" width="98%">Approval of amendments to our Amended
      and Restated 2008 Stock Incentive Plan.</td>
            </tr><tr>
              <td nowrap valign="top" width="1%">
              </td>
              <td nowrap valign="top" width="1%">
              </td>
              <td colspan="2" valign="top" width="75%">&#160;</td>
              <td nowrap width="22%">
              </td>
            </tr><tr>
              <td nowrap valign="top" width="1%"><font size="1">4.&#160;&#160;&#160;&#160;
      </font></td>
              <td colspan="4" valign="top" width="98%">Consideration of such other business
      as may properly come before the Annual Meeting and any adjournments
      thereof.</td>
            </tr></table>
        <div>
        </div>
        <div>&#160;</div>
      </div>
    </div>
    <div><br><br><br><br><br><br><br><br><br><br><br><br><br><br><br>&#160;</div>
    <div><br><br>&#160;</div>
    <div><img src="hovnanian_defa14ax3x1.jpg" alt=""><br clear="all"></div><!--
    MAIN Proxy card HERE -->

    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
              <hr style="MARGIN-TOP: -2px; COLOR: black" size="4">
              <hr style="MARGIN-TOP: -10px; COLOR: black" size="1">    </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%">&#160;</td>
            <td width="99%">
            </td>
          </tr><tr>
            <td width="1%"><img src="hovnanian_defa14ax4x1.jpg" alt=""></td>
            <td width="99%">
            </td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
  </body>
</html>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>hovnanian_defa14ax1x1.jpg
<TEXT>
begin 644 hovnanian_defa14ax1x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"``_`*T#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBF221Q
M1O+*ZQQ1HTDDCL%1$0%F=V8@*JJ"68D``$DXK\`OVG_^"@_Q6_:$\5>//@_^
MQEXWT[X0_!'X:^(?^$$^./[;5_I!\2S/XV>86MS\'_V8?"JAA\1?BHSO]@FU
M2W6?2O#^I2Q"5]]O<,@!^O\`\<_VK/V;_P!F?1IM>^/7QI^'WPOL8HA,L'B?
MQ!:V^LW<1)4/IOARW:Y\0ZL,J0?[,TN[(QR!7YKZM_P<.?\`!(C1;V:PN_VG
MO%UQ-`Y1YM'_`&3?VS?$.GN0<9M]5T#]GK4]+ND.,K+:WDT;##*Y!!KQC]G_
M`/X)717=VGQ#G^'6C>&_$^J.-5NOCE^UE9K^T?\`M/\`BJ]E59I=5OO"OBJ:
M;X>^`]-U@R-<#PJ8(=9\.S-)9R(?+!/EWCGXZ?L>?#'XHR?!3XC^*_VV[7XI
MQZE#I%KX=\&?LZ1^&=.UF>ZF\C3[CPUHVC>'[BRN--U0A9=+GLW:":V>.1"$
M/`!]2_\`$1E_P1^_Z.8^(7_B&7[<_P#]#71_Q$9?\$?O^CF/B%_XAE^W/_\`
M0UUQ_P`?++]F+]FCX6>`/C!\6O%W[:^B^$OB&(5L(;+P&FJ:_P"';NX@6XMM
M.\::+;>&?M/AG4;A2Z0VEZ3(\T,T0^:-J])_9G^#OP,_:K\.7?BWX>^+?VQ?
M#OAV`6[6>I_%#PE#\/H=<BN5+I/H(UKPNKZI`@&)985"1D@9.0:`,;_B(R_X
M(_?]',?$+_Q#+]N?_P"AKH_XB,O^"/W_`$<Q\0O_`!#+]N?_`.AKKZU_X=X^
M!_\`HKWQG_\`![X=_P#F8H_X=X^!_P#HKWQG_P#![X=_^9B@#Y*_XB,O^"/W
M_1S'Q"_\0R_;G_\`H:Z/^(C+_@C]_P!',?$+_P`0R_;G_P#H:Z^M?^'>/@?_
M`**]\9__``>^'?\`YF*/^'>/@?\`Z*]\9_\`P>^'?_F8H`^2O^(C+_@C]_T<
MQ\0O_$,OVY__`*&NC_B(R_X(_?\`1S'Q"_\`$,OVY_\`Z&NOK7_AWCX'_P"B
MO?&?_P`'OAW_`.9BC_AWCX'_`.BO?&?_`,'OAW_YF*`/DK_B(R_X(_?]',?$
M+_Q#+]N?_P"AKH_XB,O^"/W_`$<Q\0O_`!#+]N?_`.AKKZU_X=X^!_\`HKWQ
MG_\`![X=_P#F8H_X=X^!_P#HKWQG_P#![X=_^9B@#Y*_XB,O^"/W_1S'Q"_\
M0R_;G_\`H:Z/^(C+_@C]_P!',?$+_P`0R_;G_P#H:Z^M?^'>/@?_`**]\9__
M``>^'?\`YF*/^'>/@?\`Z*]\9_\`P>^'?_F8H`^2O^(C+_@C]_T<Q\0O_$,O
MVY__`*&NK-I_P<4?\$@KVXBMH?VF_',<DSA%>\_8^_;;T^W4DX!EO+_]G*VM
M($'\4D\\<:CEF`YKZL_X=X^!_P#HKWQG_P#![X=_^9BHI?\`@GEX15"UE\8/
MBLMP`?+.JW'A;6[#=V^T:;=>&XX+J//WHI&"N,J3B@#UO]G[]NK]D+]J:W2;
MX"?M`?#SXA7+N8UT.SU.;1?%88+N8/X.\3VNB>*XPH^^TFC*J-\K$-Q7UC7X
M1_M!_P#!*2R\41/K^I?#KX5_'._LE\ZT\0^!]!L/V8OVA?#XA8-#+X"\?_#Z
M6R\/7>LH0)GNO%B[)RC(L9D=17S-X3_;!_:)_8P\-^)_"?QE^*/CCXS_`+(U
MP\WPWU#X^^,=%GT3]J/]A'QSKULUEX.'[2OA^VB>?Q'\+5U&\L5L?BM802QV
M>GC3KK4I/L\EX80#^G6BOFOX`>%/B7H]QXK\1>*OC%8_%CP#XIDCU+X53V@:
M>>P\*ZAK/B#7].?4-44?9=9N1I&N:5H\&IVK,EWIVBV,S?.[$_2E`'Y(?\%8
M/C?X\TSP7\*_V0?@?XBE\+?&W]LCQ?<_#R#Q?:$F[^&'PBTC3+C7OC)\4RL9
M\Z)?"_@BSU,V-TJND>JS6BLK%@IU_P#@GM^RU\.=#\%>`OB7I/A>+2?AIX*T
MB7PS^R=X(NXUFA\+_#N%GMKKXS:HKJT6K?$_XY72W?BZ]\73&>]C\(ZII%O8
MRV$NL:];2?EC^T+\2]6^,/\`P5;_`."A?A=]0N8M3_9!_98\!?!GX572$(WA
M?Q-^U=X3^`/BG4M9M",Y>73_`!'JMG.WRR>3>2QJVQB*_J.\/:%I/AC0=$\-
M:!8V^F:'X?TC3=$T;3;5!';:?I6E6<-AI]E;H.$@M;2WA@B7^%(U':@#78A5
M8D<*I./8#.*_ATU[]LOX&W__``6Y^,O[3OQ.U#2?$>D_![6=6^&7P.\,:)>?
M$&_UWQ?\0M%CL_A3X,TVRTB2&W\$+IFI2C7M7OM;*75GISW5K>>;+<36\Q_K
MT_;)^/N@?LO_`++?QV^.WB#7O#7AV'X=?#7Q-K&DZAXN\1:?X4\//XLFT^73
M?!.FZGX@U.*XM-+AUKQ?>Z)HRW366H2K-?1BWTW4;@QV4_\`)Q_P3G_X)CZ+
M^W)_P31^-WQ/_P"$ELM1^-7Q#^*/B'Q)\%/&_A3]I_XC^-=(BN_`-L^E)HFI
M>/[/1=*NM)L/$'B5O$EAK=K8^'M9AL7&EZJRWMS9"RB`/Z'/!?[(GC[]IGQ-
MX?\`C7^WC)X=UT:-?V_B/X7?LX>#-:\07?PN^'4H!?3]2\3Z@9-$B^)7B1K6
M1#<IK.A-HFG7+SI8PW"/YA_";_@ZS^)7C/\`9J^''[,NL?LV_&GXO_"3XZ_%
M_P")VG_#70-`^'7CN^\.^$U\*Z?8*FY_"6GQ):1"2[FAM([R#8PF*1[2H"5^
MC7_!%?\`X*)7'Q<T;Q'^Q'^T5XO\`:?^UC^SL]YX<N?#-O\`%^U\>>,_$OA;
MPY/_`&9+<:Q::UX<\#^+D\2^&I8TL?$,5[X=NI?*:TU*\U!9KTV\?XR_\%6"
M?V^?^#D_]@?]C6W_`.)WX$_9STW0/&_CVR@)N+0027?_``F_B*2:(9C^W:3!
MI]M!(TBA8DD"EBIH`_J/_P""<O[)&J_LR_`7X>3>._BO\9?BU\7_`!5\./"%
MY\3]>^*_CO4_%*IXKO=,MM5UJUT;2[I8[/1[>PU&YFTZ/R8VGD@M$,LFYV6O
MYI?^#JWXH_&+X(_$W]BSPM^R7\=_CG\/_P!HW]J3X@:MX6;PQX,^(^J6'AC4
M/#NC+X7\+Z1;0>&+=1#8:CJ/BOQEHB6][&ZM=[-05DEV@P_VS`!1@#``X`&.
M!V`%?P*_MX_%[P3^T1_P=!>#/$/Q#OI&_9Y_X)1?`R]^/GQ6O+:-=1MM#/P%
M\`^(/VC=2UNWM-ZQW5[=^*=3^&GAJ:V69!)>V$%KDW"-$0#^S+]CG]E"R_9.
M^&6G^$)?BG\6?C#XLOM$\,0^-_''Q8\;:CXOU#7?$>BZ8UKJ.K:7;WB16^@6
M>IW]Q>W?]G6405(WMXI99VMUD/US7\\W@GXS?M?_`+1?_!-SXG?\%0/B/^TI
MX[_9+BU_X&_$W]I3]GKX%?"[P_\`!_5/!/P[^$_AKPWKWBKX12?%O5_B7\,_
M&_BCXI>*_B'X>TK1O$7BY]`U_P`"Z"^G>*(-!\*Z'HVK6:Z_<_,_[,/_``4+
M_;%^-G[97_!-"]^*WQO\0?"W]GS]M?\`8-?]H?6_AEH_@_X46&@1?&KPC]A@
MUC1]-\6>*/`6L>,K/X;>)?#?F>.9K2?Q,?$%E/?JEIXALM*A6T`!_5C17X(?
MM/?'']H_P7^SQ^W'^WII/[6'Q-^'/[/_`(3^'VKS?LQ>`+3X??!.^GN=3TV.
MWTB+XB"]\2_#'5/$6HZ)XH\4.G_"%>'-8O;R^;0IC>ZRHNYHK&U^*_CO\5_^
M"F7[/G_!/O\`8=^.7C']M_QOKO[9/QI^(_[/G@S1OA3X?^%OP0TGX7^/X_B?
MXBL-0\0Z?X[TS4?AQJWC/5M?M/!>I2SW6J>#/%?P_P!+M3;1K9^%[>:"6XN`
M#^L.BOPZ_;,_:/\`&/@#XP_&%/&/[8NN^!OAE\*_@@/%6A_`[]BSP1HWQ,_:
M(B\16]IJ&I>(OB%^T3KOCGX5_$;P;\(/A[86=E;Q^#1K6H>"M(UBY>_N-8\5
MW"VT.D77PC\5?V\/V[M/_P"#=[X`?M4M\8M6\$?M[_''7?A9X1^%.M>'_!GP
MWN+_`.)GB'XR_'*[\!_#/2=;\-^)/!^M^$;>YUKX4:MIWCS6KCPUH&D^9JNB
MF?2(K'3KB?3)0#^K.OD#]I;XT?M&_#'X@_LX^$_@5^S5?_'/P]\4OB!?:!\7
M_&B^*++PUH_P2\%6%C;W3>+=4^TPW$NJ3W\L\EMIVGQK;QSR6DR-=QRO#')^
M2?Q^\;_MP_LT_M>_\$H?A+_PV?XQ^+?Q0_:B^(WC/0?CE\*/^%<?"/0?@->_
M"OX6?#2'Q#X_\3^'=-M?`TWQ;\,:I:ZE=Z8^F:SK'Q:U.#5M9N9HX]-T^Q==
M`A].\#_M"?M.^,O^"PO[8'P=T+]H/^T?V8_V6OV;O#OBK6_`/B[0/`/A[P)H
MGQF^*NG2>(/"]GJOQ!TKPK_PF3^'_!^BZ:)-<6;6[BXL(=2NI[ZWN)8K=5`/
MW=HK^3;XS?MR_M0^!K_]CJS^&?[9/CGX^?M'?M"?M8>&/AUJ-M\,_A'X1A_8
M`U3PA/JD][XZ\"_#?QSXI^$6B>,_B+_PCWA6/-GXM\&?$[Q%>PZK%++K5YIT
M>+"OM#]H[XL_MF_$/_@LA\(_V1/V9_VI=3^&GPET7]G#Q/\`&3]I/PM=_#;X
M<^,;+PW97EXGASP'?^%[R_\`#L'B:W\0:W?W5P]K)KOB74?#EGJ-G9W,_AW5
M;-+K3+H`_>N^U/3M,6!M1O[2Q6YN(;2W:[N(K<3W5PXC@MXC*RB2>9V"1Q+E
MW8@*":^*/VR/V>8_&_AS4_BYX#\'Z;XF^*7A'PMJNDZ_X&N;2WGTG]HCX074
M,Q\;_L_^-=/G"V.LP>*=(EU$^`+[4B'\)>.Y-.OH+RVT34O%-CJ_YA?L56'Q
M`_:J_;$_X*!?`'X[?&OXD_M-_LZ_L8?&KX#R_!?QO\1K3X=^'/&UA\8-0\$:
MUX@\=Z)%KOP9\"?#'P]XA\-:1'>VUE>V6H>&8[W3KRXAMK:Y4I)/)_1$0#U&
M?K0!^$/_``27^*4/PB^('Q(_8!D\4W_B_P"%.A>!/!G[3W["7C'6;JXN=2\1
M_L@?&![N72?!4MQ>8NKZ[^"7BV#4_`<MS.L4O]B#PX&A4GG]WJ_DB_:E\6:E
M^S%^V;_P3A\3^#'?3-3@_P""G/Q._85U6>T80"X^"W[47[2'P8^*OA?P4$0`
M1Z#X-T+6'T/2+!0(H+(F,*.,?UNT`?RV_M)_"G5OA)_P56_;=U^WLFEUK]M_
M]D_1/B9\*E1^-8\??LG^$O@;HLFE$@$++'H/A'6K\P@^<]O9R2JGEJ7']-_@
M_P`4Z)XX\)>%_&OAJ]CU+P[XN\/:+XGT'4(B#'?:-KVFVVJZ9=I@GY;BRNX)
M@,G`>OS1_P""J'[//Q!^('PU^'W[1WP%TF/6/VBOV0?&L?Q@\!:"1M_X6#X8
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M>H>)O'>KW_@[5]FJW3?VYX4N='UCS5M9OMOFV5H\/W/D'H<T4`?D[%_P1L_X
M)^>$O$S_`!8;PI\8;7Q1H=^_C"[\6:A^U1^TO>7GVS39/[5N-2U2>]^*\XU!
M"UNTU\E^+B&[B$D=U'+$[HW\FO\`P1Q^/&L?$W_@LA_P48_X*%W/[.'[17[0
MNC6'B'Q-\-/`=S\$/#G@;Q.WA&ZO]5;1OL^JW'CSXD^`TM[6]\*:2\EDNGSZ
MA+(93),J!BQ_K7_X*P?M%?&WX6_LU?%?X9?LW?LU_'3X]?&SXI?"OQ+X?\$W
M/PU\+V5_X0\/W?B2"]\-W$_B7Q)>:Q8_V9?V5G-<W]M:1VD[RAK65)D)('Y5
M?\&LOP$^,'[)/[,7Q+^"W[1'[-'QO^#/QO\`%GQ(UOXC>*_%'COPM8VG@_Q'
MI9VV/AZ"Q\26NKWDESK4-O+<FYLI+1=H8R"8Y((!^KGB3_@IUJWAKP]K?B'5
M?^"?'_!0/3-.T32=0U6]U#4?A]\`K>PL[:PM9;F:YO)Q^TD[16T*1%YI%1V6
M,,55B`#_`!>_\$8;O3?VPOBG_P`%COVI?BQ^RW^UA\>?!/[<UC\2OV>['7O@
M+X;^'&K7GA#P-\8=9UCQ%XLT&^U+QQ\3_!#Z5XAT'PW;?#6#0QID.MP1K:%K
MJ>)884N_ZV_^"V?QW_:+TK]DGXZ_LY?LH?LP?'_XU_&WXR?##5/!WA_Q3X`\
M+V4G@;PG:^,8+G1=2U6[\4W6M6C)K>C6,D]Y!IL=D6>4V_[\;SCYG_X-A_@Q
M\1/V5?V"?^&;?C'^SG\9/@7\7]-^('C+XE>/[SXA>%K+2_#/B>_\3W.FZ-I#
M^'->M-5O?[3NK;PYX?T>*[LY+:$VAAE<2N)`H`/G>33OVH/B-^RA\+?V!?CQ
M^S[^VWJW[)'PZ\%?#?X7^)--^$O[,GP@^'/Q>^,WPO\`A-9:)IOA3P/X^\=:
MA^VYXLT/2-)UNP\.:+!\0)O`/@_PGJ?B+[/=P:9?>']+U&[TV3OOVNO`GAG]
MJ'XJ?L(>+[#]A#_@HU\*_`W[%][X[LG\">#/A5\`M.3QY\/_`!;X5T/PQ;_#
M234+/]IVU32?",5OI#P:OIPM+N#6-(OKS2)8XK:ZN/,_J7HH`_F/_P""D/BO
MXV?MR?!7PQ^SSX#_`&4OVY_@9\*M-\1^"O$GB;2F_9N^!?B[4/$R>`]8@U31
M_"OGP_MA^'K#3_"%XMK;VNKZ;%ITM[=11@0:C:C:J^=_M)S?M+_M&_&S]COX
MFZG^SC^V=X:\(_L<>)=(\<^"_AMIO[*GP8N-,UCQQ8Z"WAZ37[[4+C]MTS6Q
MT^QDD'AFVMH5326V-=MJC(&/]6E%`'\36C?LN_M+:9^SE^VU^S2/#/\`P4BM
MO"G[8/COXL>/=7\6Z;^RI^R\?B1?R_$Z$6G_``B7Q1\:ZU^U5K.K^,O!>BV"
MBP@TKPM+X`O'LI;NQCU*"QNYK9O1/&OPQ_:N\=^%?V`O`OB7X4?MK:CX+_8)
M^*7PE^-7A#P=<_L??`6#P[XI\>?!70?^$2^'=E=V.G_ML6#:;X*\(>'883X>
MTB"2;6(M>N-3UO5_$&L37%K'9_V0U^('_!9(:GX_\4_\$YOV;?!7AN;Q9X_^
M-'[:OA;Q%J'A^S\0MX4OM6^"/P$\&>+OC7\:=';Q`%D33M)\3Z9X0T#P=K)G
MAEANK+Q(]BP#W,8(!\.^-_$7[4'C3_@HEX6_;WN_V<OVQYW^%_P8^(GP0^$/
MPDU/]E7X.7GA[PAHGC;5Y/$$/BV\U6W_`&XK+4=2\=+J-OI&GZ]JMK_9FGZK
MX<MKS2['2M(EN;>\L_CSQ9^S#^TCX^^$G[?/@/Q7\./V_O\`A,/V\/BUHGQ@
M\6?$#P]^RS\#=(NM"OM(DL4'PYN-.D_;5O4USX2-8Z;9P0>%I+BSU".1)'FU
MRYAD,`^Z?C-\:M#T7_@IMH_B?XK?!NY\%>$_V+?V4?AK86_PM\+^-(?%!\=_
M'W]J#XTZ3\./V:/#ES-IMMI^G)J.F:?X'U:/1H=1M+G^P]/UVZUV0R0#RS^B
MOQ9_X*7:]\'M=\?_``WU?X(?\)'\8?!6M?L]V%MX.T/QG:6]AJUO^T)JMWIV
MBV::S=V,Z0Z_X<BTS5+[5M.:$FYTRT&JVXBMIEC`!^)GC?X6_M6>-_BA^QQ\
M7;OP'_P4"TWQ!^R3IEYI/AWPGI7['O[*EA\-=,2YTBUT4:Q\//#-K^U-#>^'
M/$IL[7RI=8\6:UX[D2*XGCL8K(>48O:?@9JO[5_P>_:I_:E_:\U+]G[]LSQU
M\4?VB_`&B^!-*;6?V3_@U!I_PZT_P@)'\(V&G_9_VX1>ZKH%M>/_`&EK6F75
MW%=:I?%Y(-1T^-A&OZ=:C_P4O\=:%>^.;?6_V?($M/AU^TEX/_9QUW4-/^(-
MC=QZMXF\8NJQP>&8?[.5[^_T%3)_;43LJ)+!+%&BXW#J=$_X*1:]XTDU?QK\
M.OV8_BOXY^`FC^(OB3X:D^*VBV]G);W;?#:QU,:AXBL=.:Y%U=:'J'B72KGP
MI90P6\MZ]Z#>`M`AC8`\2_X(G_!;XC?!#P/^U%IOQ%\/?&/3M7^*/[0NN_'O
M5?$/QN^$?@SX5^*?$?BSXIQW,WB6VTU?!?QL^,5CJ_AOP\-#TJTT>UN#X<DT
M&"Z-O&NKK>-)8?MT2`,D@`=2>`/QKY4_8]_:7M_VL?A/_P`+;TO2M)T[P[>Z
MU)IN@W&DZTVK)J,%OI6E7NH?;K>>TL;[0]5T35]0O_"VK:-J5O'>0ZGH5Y=!
M5M;NU5?%/VXOVFO#OA/PCXT^$>@>/+'P7?CP?J.O_'?XN/?I:Z/^S;\#UM2W
MBSQOJNKH_EV?Q"UW2'N-"^%'AY&.K77B74+/Q";5].TE8=1`/Q$^._@V]_:X
M_;5_X)Q^%?!W_$RO4_;K^*W_``4EUEX7S;CX&_`_]I?X0^`/@]XQAE)Q+IWC
MKP3X=GUO26;:;B"&;[/Y@C<I_6C7XB?\$FO@YJ_CS7OBA_P4#\:^"KSX>67Q
MM\/^"OA1^R?\,-7LWLM3^%'[&7PEM[BQ^%EA=Z=,HDT?7/B+<W>I_$7Q%9*(
M]IUO2[::-9+(*O[=T`-95=61U#*P*LK#(92,$$'@@C@BOPT_:L_X)P_$KX?>
M-_B!^T!^PQI'@SQ+9_%.==6_:,_8M^(=\^A?"CXXZE;8:/QQX!U^!HS\)_C1
M:A$:V\5:>UG:ZG*J37MQ:WL%O=5^YM%`'\V7PJ_X*B/\(-5A^&'CWX@7_P`#
M/%>EJD%S^SY_P4*TC7OAIXRT%(WPNG_#WX]Z7IM[X0^*5C<J!%X?DO)+&SM-
M*2V\[5+N0R3'[YTK_@IHFIV4-W:?"3PAJ]O(H,>I:-^U=^S/)IUYP"9K07/C
M^&[2!\AHQ<PQ3;2-Z*V17Z&?$_X-_"'XV^'V\)?&?X5?#?XN^%7=I'\,_$_P
M-X8\?>'V=UV.[:-XKTO5M-9V3Y&8VQ++\I)'%?))_P""3W_!+,G)_P"":G[`
M)/7)_8W_`&=2<GJ>?ASWH`\Z_P"'DDO_`$1/1/\`Q*C]F+_YX5'_``\DE_Z(
MGHG_`(E1^S%_\\*O1/\`AT[_`,$LO^D:?[`'_B&_[.O_`,[FC_AT[_P2R_Z1
MI_L`?^(;_LZ__.YH`\[_`.'DDO\`T1/1/_$J/V8O_GA4?\/))?\`HB>B?^)4
M?LQ?_/"KT3_AT[_P2R_Z1I_L`?\`B&_[.O\`\[FC_AT[_P`$LO\`I&G^P!_X
MAO\`LZ__`#N:`/._^'DDO_1$]$_\2H_9B_\`GA4?\/))?^B)Z)_XE1^S%_\`
M/"KT3_AT[_P2R_Z1I_L`?^(;_LZ__.YH_P"'3O\`P2R_Z1I_L`?^(;_LZ_\`
MSN:`/._^'DDO_1$]$_\`$J/V8O\`YX5'_#R27_HB>B?^)4?LQ?\`SPJ]$_X=
M._\`!++_`*1I_L`?^(;_`+.O_P`[FC_AT[_P2R_Z1I_L`?\`B&_[.O\`\[F@
M#SO_`(>22_\`1$]$_P#$J/V8O_GA5\H>-OC%\.OB!^TK\*OVJ_$7PR\43?%#
MX*:=XKTCX;06_P"V?^R[!X2\.:7X\L=+T[QM96_A\^,'62/Q59:-IMOK$DEV
M;B6*W\NWFMDDE5_O/_AT[_P2R_Z1I_L`?^(;_LZ__.YH_P"'3O\`P2R_Z1I_
ML`?^(;_LZ_\`SN:`/RUO(/V?]5\?_&/XH:]\)/&/B'QO\<]>^$WBKQMK>M?M
ML?LNW<\7B;X%:E9:G\(M=\/JOBR)-&O_``%+8I!H?EB6V2VGO$NK>YENYIFZ
M36O$7P1\1>(M&\9:Q\(?$U]XRTSXIZ)\9-0\6S?MH_LNOKOBOQUX7T&?POX5
MOO%=TWBXQ:G8^&/#UU<:5H>EPP6=E9V\\DABDNF^T5^DW_#IW_@EE_TC3_8`
M_P#$-_V=?_G<T?\`#IW_`()9?](T_P!@#_Q#?]G7_P"=S0!^95IJGP0M6T=F
M^%GC.\&C_'S4_P!I<1W_`.VO^RY<QZG\6]5GFN;G7M95O%8_M"".6XF-K8R%
M8K8.5C(&,;.B_$7X4>`O!>I^"_"_P_\`&GA3P-_;>M>)M)\/Z=^W)^S)I>B>
M"]0U_6Y_$.M3>&UB\9B:RM+[4[R^FNK:ZDU--E]=+$B;DV?HY_PZ=_X)9?\`
M2-/]@#_Q#?\`9U_^=S1_PZ>_X)9?](T_V`/_`!#?]G7_`.=S0!^0/_#P;X:_
M"_0[OX,_"#XI>&;?5?%OB7Q#XCN/A/\`LAV>H?M.?M1>._&'BBZ:?5HM7U?P
MSI,?P]\$:OJ\@B@@\7VMU?VU@;:.:>S=8GDD]A^`7_!/'XS?M6ZKX:\9_ME^
M#$^!/[+WAOQ/9_$3P?\`L7Q^(E\7?$#XP^/;647FE_%']L[Q[#))#XLUBPE$
M-YI?PQL[BXT'1M2-PE[%;V]G8:='^VOP@_9P_9X_9[T^XTGX!?`;X,?`_2KM
M0MUIGP@^%W@?X::?<JK;E6XLO!>AZ+;3*K?,!)&P#<CFO9Z`*]K:VUC;6]E9
I6\-I:6D,=O;6UO&D,%O!"@CBAAB0*D<4:*J(B*%50%4``58HHH`__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>hovnanian_defa14ax1x2.jpg
<TEXT>
begin 644 hovnanian_defa14ax1x2.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!?`!,#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBOFG]H
MOP[^T%XHNO@QIOP#^)MU\*&3XEZO>_$GQ,G@KP-X_P!'N/!MK\(OB>^AZ-XK
M\-^,(X-5N_"U]\3S\/Y-3'P]\1>"O'$K6MM9V?C'1M&N];^T;?P0OOVF@FOZ
M!^TAH'P6EO="@\/1^&OB=\%->\96NB?$UI].8>)=2U7X0>.=)O\`6/@M=V.M
M02#3O"<'Q>^.EE/HEYI]W)\07U(:AI=F`>]T444`?GW_`,%)=/\`@]JWP%T3
M3?B_\</VJO@3#<?$K0KCP+KW[&VM_M0VWQI\4>-=(\/^*M</@U/!_P"R!!>?
M&KXF^`[SP?IGB[6_B-X.T6Q-M9>#]`U7QQ_;7@S5/!VE>.O#/E?_``3#^%'@
M#X4VGQKNM"^.%W\<?%_QDUGP=\7[WQ+IG[1?[6_Q_P#`E[\/DT.Y^$_@W7=)
M/[4OQA^-EYX*\8ZOXE^%WQ#MO'&@Z;XY\3>+M(32?#?@7QIXO\1Z5X`\#QZ1
M],_M5V7Q@NO$7[+]U\$_"?PQ\2>+]#^.7B36VO?BOIOQ%E\.>';&+]F[X^:9
M)<V_B+X>:U9R>!M3\13:M#X'C\7>*?"_Q,\.:;8^*+](?AYJ_BB?PWJ6CX7[
M,'@V&'XJ?''XJ>,OV0+[]F3X_P#Q!T7X5:5\8?%F@?$3P]\1?@[\;9O"UGXJ
MO=(\0?#?7/#FM:-=:W<^%]0\4^)/#7B#QI\2O@1\"_B[XKL;7PS'XCT#5?">
MA^!'TT`^W****`/RE_X*Y_$[Q9\)_@I\%?$?A;5/CHXO_P!HC3_#^H>!/V9?
M$/C'2/CQ\2+V^^"WQMO?`MCX(\/?#?POXK^)'Q-T#X9_$_3/`_Q^^,WPW\%:
M?<7>K?`/X0?%37_$OAKXL>`?#'B[X%_%1G_!+^Q_::U/1/%7Q0^.'C#Q1X\\
M*_%/X3?L\^)M(^(E]\</#7Q?^%7QQ^+^H6'Q%\0_%;]HK]EGP[X>O-7/P6_9
M?^*?@?Q+\#+;X:?#>ZN/`L-O/X3UV[A^!_@[51K_`,6_V@ONCX\_LX_#']I'
M1?"NA?$R7XGV,7@CQ9_PF_A76?A#\>?CM^SKXST;Q&?#?B+PA-<V_C_]GKXD
M?"[QS+87?ASQ9K^EW^@W/B*?0-0BOEFOM,N+JSL)[7P#]@;X/?#/X4^!?'EG
M\/\`PY\;OA]=Z-\1?&WPAUCX6_&']LK]H?\`:T3P5H'P8\>^,_#7PIU3PW8_
M''XN_$[3_A#:_%?X37W@SXSV7A+PGI_A/47\%?$+P'8^*TUH:!H%Y``?>E%%
M%`'YN_\`!4G2?V!=:_9TT#3O^"BW@&]\>_!>Z^+_`(&MO!D>F_`3XM?M"ZCX
M<^-=W#K=E\.]<L/"7P?^&WQ3UG3KVYEN=4\,6M[XE\,3^!?$L_B*/X:>)X-=
MMO'D7A/Q#X;_`,$A_`O[(?P]@_:M\/?LR_"CQ5X(\16/Q:\)6WQ+\8^+O^"<
M'B'_`()Y:CXOTR/X:^'9_AWH2Z%??!+X(>'O&C^%+&Z\0ZOK5AH7A#P?+X=\
M5>-_$'BT_"[P1X8^*'@_5O&OTS_P4._:)\5?LZ_"WX>ZCX>B^$5OI?Q+^*;_
M``S\9:W\<_#OCCQ7\.K7P_<?"CXJ>.+'P5=:)X&>TGF\5?'?Q;X&\,_LY_#N
M;7]5M=&B\?\`Q=\-)IOAWXM^.I_!GP*^*?S;_P`$E?C%8>.K7XV>"O#'PJ^%
M?P@\):;8?"/XOWOPK^&>G?$K3M<_9M^)7Q<M?'?A[QA^Q_\`'*'QGJ&K^$X/
MCA\"O#/PC^'FK^(=)^'*?#G1]`\+_$KPAI$'P+\#^"+;X;?$CXW`'[&T444`
M?"/[?G@;]H/QW\/OA=9_L_1_%&_O-(^,$&K>/="^#WQHT;X#^--2\/2?"_XH
M:-X$U67QKK4VFPZGX(\`?'S5_@Y\2_B=X%@U[39/&?PY\&^*-+N_#OQGTD:C
M^SK\8_./^">WP[_;(\#ZS\6;K]K"\^(%WJ6J>#O@QI^OZMXP^,6@_$OP3\2/
MVC=%G^*$GQZ^,_[.O@O2+G4[OX#?L[^.-`U;X,Z'X'^%.I2^`CIFJ>"?$CCX
M&^#-9B\0_%G]H'2_X*B_"6^^+_P!\%Z5I_\`P3Y^#W_!2:X\+_'7X;>-O^%$
M_&CXJ^'?A)X=\,Q:&VLQ2_%FQU;Q/\,_BIIGBN;PDE\=,\2_#H>'6O/''P[\
M1^-=$LK7Q3<3IX"\6^1_\$KM0^"?]K_M%>&_AO\`L8?L"_L1^/?"]S\.-/\`
MBG\+_P!DB\\5:)\8&F:;XA+X9F_:)^%?Q"_8._89\>^#-"$5OK.I?`WQ3J&A
M>/O"OQ/T/6O%_B;P%K,'AN.WU?Q4`?K_`$444`?,/[67[->H_M4_#*T^&5A^
MTC^TI^S!%%XITOQ)J/C?]EOQ;X$\$_$#7[+2[34H/^$+U?7?'OPU^)UG_P`(
M9JES?VVHZYIFEZ3IE]K$VD6&G7VJ2^'KC6M%U?EOV//V.=._8X\/>*_"7A[X
MU_$KXI>&?$NHP:U:Z'XZ^&O['_PXT_PSK\^H:]JWBOQ'IL7[*7[+G[-K>(O$
JGQ#U;7FU?QSK_P`1W\<ZOJNKZ?;ZK9WFF:CJ7B6ZU[['HH`****`/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>hovnanian_defa14ax2x1.jpg
<TEXT>
begin 644 hovnanian_defa14ax2x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!=`!T#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_9W2)'DD
M=8XXU9Y)'8(B(@+.[LQ"JJJ"S,Q`4`DD`5Q7PZ^)GPW^+_A#1_B%\)?B#X(^
M*/@'Q#;1WGA_QQ\.O%>@^-O"&N6<L:2Q76C^)?#5_J>BZG;212QRQSV5[/$\
M<B.KE74GK[R".YM+JVE,@BN+>>"0Q#,HCEB:-S&`DA,@5CL&Q\M@;&Z'\!/@
MK\<O^"5FN^//V9+7X#_#S]L:/XI7?CSP#^SOIWQ]^%7[#_\`P4%_9]7Q?XI^
M!_ACQ'HEGX8_:C^(FD?`CX4>!OBAX0\.+HGB/1?&WA#XL#QQX2^&]SJFK^,?
M$WAWP1X=\+:_XY\'`']`=%%%`#9-^Q_*V>9L;R_,SLWX.S?M^;9NQNV\XSCF
MOQ0TO]E+]LKP5KOP,_:;UE_#/[0O[27BOQ!\`V^-EYKNA_`[X3_%+]GRP\3Z
MUX-T/XYZ3\._%?PP\/>"/AC\>O@O\,?`.M_%3PSX;\$_&JT\<_&SPSX2UOQ'
MXA^&/QZ\<^,I=,\&>*OVFOX%NK&]MFE$*W%I<P-,P#+$LT+QF5@60$1ABY!=
M00,%EZC\&OV9?$_[`GPET7]E70?V9_VQ_C%\,?[0'P,^&DGA'P!X:^+6H_LW
M_%:RMH_#GP_\!:AXH^$'Q>^&WCWX:_LT?"_]J#Q#XV\,I\#OCQ\/)OV?]/\`
MVF/$GBSX9)\+OC!\7[75=!TK7P#]\****`(;AUCMYY&BDN%2&5V@BC$LLRJC
M,8HXB0)))`"B1D@.S!21FOY9OV)M.\$:[\3O!>E_&+X2_MG?!*X\0ZC^RSXM
MTG2_@[^PY_P5O\+^`]>U3PY\3/$GCOP#^QK^T_\`%/\`:H^!WQ5O=1^#W[$/
MQ)L/!/B'X=_&SP1\3OV6O@5K_@SQQXP^'=Y\(?A5^SWI7CKX?>.OZF;B>.UM
MY[F7(BMX99Y"HW,(X4:1]H[G:IP.YXK\U_%O[6W@V']I;]G+Q;I-E^U+KOP[
M\2_`?P?9^+)/!?A70+G]GCP*/VX_BM\.-!_9D^('QQM-1\8Z7XYU+QU+XN^$
M/BCX=>'9_A+X(^*,'P:\-_$OQ=XQ^/=Q\+?AIXAT7QK>@'Z74444`1RQK+%)
M$RQNLD;QLLJ"6)E=2I62,E1)&P.'0D!U)4D9S7\Z/P(_9'_;)^"7QT^&/P5?
MX!_\$P_@Y\%?%GQR\,?$SXQ7?[)'_!*9O"7P6^*W@WX'GQ/\0?A?J'B'X@C]
MM75=;\#_`!H\&>--'\#>(/AYJ/C3X*:.GPP^,5[X=\3?#GQC\:-`\'>*_#WB
M3^BZ4*8I`TAB4QN&E5@C1J5.9%<\(4&6#'A2,GI7\E7PA^%/[-'AKQI^R&/A
MM^U)\(?B]I&I?&C]G6/P1XQ\1?!+]J3X9ZC\"SX7^.'P[U_1OV@_AM;PV?Q'
MMK?XM_\`!4?3KOP9\$/BE^U)\9OBW\%O@Y^W=XB^)^C_`!,^&.I_%_0OB9XO
M_9_^-0!_6S1110`V0`HX*>8"C`QX4^8"#E,.50[Q\N'8*<_,0,FOY]_@Y\)_
M!_C#QA\)->^&O_!-3_@JI^SSX,D^)?PVT_X@ZEXD^.G[$;>&O%?ASX$?&.7Q
M+\*O"WQWL_'W[?7Q7_:/M_@-^S1\3+'4/%G@#X9_!>QT'^S/`T&M_"_P?X2\
M7?!7QIJ_PI\7?T#2M&D4C2N(XEC=I)&D\I8XU4EW,H93&$4%C)N78!NW#&1_
M(!^S]\>?V+&_:]^!G@_]E'_@IO\`$/\`;&\):C\<['3_`!`W[7'_``6'_:6^
M&VM:9XCN_BAX>7PWX0^%_AZ;]L[P[-^TTEF+VZ\-?#?X&:C_`,$__B;\/OV@
@K"TL=#^(O[4NAR70E^)@!_8'1110`4444`%%%%`'_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>hovnanian_defa14ax3x1.jpg
<TEXT>
begin 644 hovnanian_defa14ax3x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!?`!H#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBOD3]N
M/P[\`/$?[/6I+^U'X_\`A)\,O@1X=^)7P(\=>/?%OQSUSPUX8^&$%OX"^.'P
M]\8:)I'B'Q%XOUKP_P"']$N?$GB71=&\/>'-2O-4AEMO%&IZ*^GQ76H_9+:7
MYM_8K^-'[$WBCXU^+/A7^R#_`,%*-+_::L=`^&I\87W[-%I^TWX#_:LT[P7I
M6K^-;E#\1O!_Q/U>Z\<_'B:RTO4KQ?"&O>$-3^-'C/P!\/=(U;X<:3IO@SX=
MV^L>%_\`A)@#]3:***`/FW]K>U\:ZK\!O%/A?X?^`?`'Q(\1^/=>^&WPS/AW
MXK?#W4/BU\,;+P_\3?B=X/\``'B[QG\0_A?I>M^&+WX@>"OASX3\1ZU\0/$_
MA)/%7A*#6M&\,WEG?>+/"]A)=:]I_P`9_LC^"OCK\!/VE+GX4?$KP'XOU>/Q
M_P#!K6_$'B/XXZ'K7Q%^(7[.MVGPD\4>$K'P!X-^%^I_$?Q+XR^(WP`O[V^^
M,7Q3U^;]GSXL>./B7;6.A0Z;:_`_XG^*O!_@/Q=I?A/ZY_;*TO3]2^`NM7&O
M_&1_@!X,\,^-/A+XY^(WQ:7XPZK\!(_"7PR\!?%;P9XQ^(DUY\5=)U;0I/#6
MFZCX.T76=)U2+4=7LO#VOZ=?77ASQ*\N@:OJ5O-P7[.VN>)-'^+GB[X02_MS
M?"_]JG1_"7@31?%M]X%\1:7\,4_:U^'L?CO4YM<\!>(O'FO_``9U[PEX*UKX
M5>)/"%RFF>!+G4OV>/!GB74;?1+;7[_XD_$B\UG4+JT`/N*BBB@#\^O^"HOB
MOP-X'_8N\?>*_'FLZ=X6MM#^(/[.NH^#?&VM?$OX6?!SP_\`#KXO6O[1WPHG
M^"?Q1\3?%/XV>!OBE\+?`GA7X6_%N/P9\1/%/B+Q;\*_BK!8^'O#&I'2/A9\
M2O$+:1X'U_\`/#_@D/J?[)WCOQ_I.N_!G]J_]FSQ7XL^&?@;]JS0=-_9*^%W
MQ;^!?QX^*7@"]^*O[1'PVN/VC?BYJOQV\"Z];^-/B]\`/'GCWX+?"[Q-^SA?
MP?!OX"Z/X9^&'Q`\,:)X]\'RW5M\(_`'P/\`WO\`%?C#PYX(TRSUCQ3J<>DZ
M=?\`B7P=X/L[F2"[N1/XC\?^+=%\"^$=,6*RM[F<2:QXJ\1:-I23M$MI9F\^
MV:A<6FGV]U=P?*/[/W[2'AOQ]\=OVD_A-=?%R[\=ZOI?Q-\0:S\*-#D^"GQ)
M^'7AKP]\,OAYX3^$_P`*_BGX*\%?%OQ-X'\/_#?]I#5/AO\`M&6GC^?XG^(O
MA;XO\=S_``MUCXD>&/AEX[E\/ZKIFF:;(`?:=%%%`'S1^V%HOC#Q!^S?\3=-
M\`?L^>#_`-JCQD+#0]2\._`?QO\`%4?`_1_'6J:)XIT/6[7[!\6CX1\;_P#"
M`^,/#4FG+XO^'_B-=$MY+#QWH'AR2'Q+X,F\OQ?H?Y2?\$H?"/B#2/VA?CE:
M3_LS^&OA#X?\!_#VS2[OO$_[?G_!1?\`:_\`B[X$^*'QG^)WB[QQ\4/"5IX2
M_;Q^"'PUM?!6F?%G6/#%K\2_B;XJ^&J^&T\=>(=&\!>,]0U3XZ:3XR\/^)/A
MG^FW[>%IKMS^RG\5+C0?BUX;^"7]B)X.\5>)/'WC'XX:W^S)X33X?^$?'_A;
MQ/\`$KPAXD_:0\+:+XA\8?`'0_B5\/\`2?$OPXU/XS>"=)N/''PUL_%<WB[P
M7-8^)])TK4+7X._88'QVTW]LKQIX&^)_[1'_``NCQ#X&^!?B#5OC!>Z?^U9X
M.^('@;Q3I/Q/\7?"O6_V-+SP/^RM8:_J7C'X1ZQ\-?A#X>^*_AKXE_&O5?`/
MP5T[]H+7?%6F?$)Y/CE<>*]/MOV;P#]K:***`/CS]O6;X,V'[+GCOQ!\>_%W
MQ)^'GPZ\%^(OA-\0?^%B_!_X9ZK\8?B7\.O'7P\^,'@/QM\)OB!X0^'&D_";
MXZMXDU7P5\5=!\&>)4CU;X1^._#&G0Z9+J_BW1'\,V&JW-O\%_\`!/KX:?`W
MPW^T2/\`A36M?M0P^!_AU\+?CRWPS\%?'K_@F_\`M9_LRW^BW?[1_P`5/@MX
M_P#C[JOBO]J']H;X(?#+PY\29]6\:?##P#+\*O@[X.MO`LW@SPD?$VGSZ)\1
M/!G@#X:1_!+]'_VQM(\3ZY^S-\7]-\'?M0:3^QCXBE\,K-8?M->(?"'PK\?>
M&OA2MGJFGWE[JWBGP;\:H9?AIXA\+:K8077AOQ'I_B.?2C)HNM7S:/KWA_74
MTS6K#X%_X)W>,_VHO$/QM^(VC?%GXY_M6_M-?"SP]X+GA\(_'7Q-X3_9:\,_
MLH>/-4NKGP+?6NH^$F\*?L+?L<?&V_\`B(]M>ZY_8TOPM\5_M.?LOQ>$TU^V
MU[XSS?%>WM/"'A0`_9*BBB@#SWXJ?"/X4_'3P+K/PO\`C;\,?A[\8OAIXC;3
M'\0_#OXJ>"_#?Q"\"Z\^BZK8Z]H[ZSX2\6Z;J^@:HVDZYIFFZSIC7VGSFPU7
M3['4;4Q7EI!-'Y!\%?V(/V+?V;/%5]X[_9U_9"_9>^`?C?4]`N_"FI>,O@K\
M`?A1\+/%6H>%[_4-+U:^\-WWB'P-X3T+5[O0+W5-$T74KO1[B\DTZXU#2-+O
2)K9[G3[22'ZAHH`****`/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>hovnanian_defa14ax4x1.jpg
<TEXT>
begin 644 hovnanian_defa14ax4x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!?`!L#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBOS7T
M?P[_`,%`/A=I_BSX@+\</AG\4$\1?%GXO3:5\`?VJ;'PA\-[33-+\2?&+6=%
M^`/@?X4_M,?L^>&+A_!'A74/![^&+:PTCXK?`W]I3XFZMK?BJPT^Z\6:)?Z4
M_A:<`_2BBD7<54L`&P-P5BRAL<A6*J6`.0&*J2.2HZ!:`"OYK_BS^QE_P1S^
M*_[2_P`5?&6E>%/V??#OC#2?C%XD^./[4>C_`!I_8/T[XA^%?V@M4^$'BF_\
M7_M`Q?`;XR_%KX7Z#>>,O&5IK'P^\0>'_CKI/[.7Q1^+7@'09#\0=/\`B/\`
M!8^/O$>HZ[%_2A7XPZS\*?C_`.,O@=\9?AA\<OV/OA+^U/\`LO?$+XQ?M6:\
M/@[\-=1\8?LY_M->$]+UC]H+XBZUX;O?"UC\:OB3<>"?B#XZ\6W.HZU\3-$^
M-_AW]H;]D:3PU=:]X7O?ACX3AL)+/7].`/V8MY(9K>":W(-O+#%)`54HIAD1
M6B*HRJR`H5PI52HX*@C%35#;Q1P6\$$49BBAABBCB9M[11QHJ)&S;Y-Q10%+
M>8^2,[VSN,U`!7\S>I>$?VI_CQ^TI\>?A-\&OVRM:A\0IX^_:0US2?#6L_'C
M]O'X2>&O$O\`8_Q:LM!\*?M`_![QM<_!#3_A=XE'_!.VZ\2^&/V>_C#^P[^S
M3XW^(7[+7QQ\87.@ZK^UOXZ^'/Q&\4+H$W],E?E1\3/^"<GP;O\`XO?#'QE\
M/]`_:@U"Q\<?&/XQS_&KQ+X._P""GO\`P4%^$FF?!OPI\0_#/Q.^)WC'7_AC
MX`\!?M5^&/"NEP>-/VCO#WPR\)Z_\-?AYH&AZ#IUMXDN=>71+.Q\%116@!^J
MJ!E1%=_,=44/)M";V``9]HX7<<MM'`S@<"G4BJ%55&2%`4%F9FP!@;F8EF/J
MS$L3R222:6@`K^7SQ-XX\`_`KXI?%_X<_!?]C'_@H;\(/VGKW]IGXEMJ?QA_
M9\^('[`?[-Z_'>]_:#_:+C.G?&_3_@%\;OVS-9\"?M5:5!;>-_"7ASP;\:?C
M1^S5XPA-QI<'A7Q1K_P9-YXUT+PQ_4'7\_7Q_P#VH/VX]3^(/B*PN?V*_!OQ
M'TGX2_&KXH:S\%_$GBK]AS]HWXH7/@CXC_#+Q7J&@?L\_#OP]JMCXI^Q^(=?
M_:N\`3Q_$'3/^"A?PVD\-?LZ?L9?VS=_#GXX>&_$/B2POIYP#^@-,[$W;]VQ
M=WF;-^<#._ROW>_/WO+^3.=GRXIU-0LR(SIY;LBEX]P?8Q`+)N'#;3E=PX.,
MC@TZ@`K\*_BI^PY_P4B\3^-_B=K/@W]ILZ9X9\5_$3XNZIH6D-^U]^U'X1,%
MQXT\87&O?`+X\6EAX9\!7MI\.;C]D?P=/;?#2;]A7P3=W/[,'[8L6F1_$'X[
M^-_#OB;4KZQ7]U*_F>^)-K_P30\*?M+_`!A\&?$G_@@?K/C3XK?%'X]^-M2B
M^)WQS^"__!*'1-)_:,^(VNB[U36_$'P#\<?M6?M?^`_$'Q1L_&]MH&K_`!*/
MASPS!+XCLCJ'B37/$OA/PUJK:_86(!_2^@9417?S'5%#R;0F]@`&?:.%W'+;
M1P,X'`IU-0`(@">6`B@1X4>6`!A,(60;!\N$8J,?*2,&G4`%?C)\;/\`@GE^
MVU\>O'_Q+O?BM^VO^S)\:_@1XH\=ZOKWP^_9D^/_`.P;\5?&'PE\!>!9+J&3
MPQ\.O&GA3X4?\%"O@1X#_:,@T!+2TU2XU_X_>`?'5Q=^+_/\1:'IWA6UMO#F
GA>'?V;HH`:B[$1,(-B*N$38@V@#")EMB<?*FYMHP,G&:=110!__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
