<SEC-DOCUMENT>0001437749-18-000604.txt : 20180116
<SEC-HEADER>0001437749-18-000604.hdr.sgml : 20180116
<ACCEPTANCE-DATETIME>20180116074146
ACCESSION NUMBER:		0001437749-18-000604
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180116
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Material Modifications to Rights of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180116
DATE AS OF CHANGE:		20180116

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-32447
		FILM NUMBER:		18527301

	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>8-K
<SEQUENCE>1
<FILENAME>hov20180112b_8k.htm
<DESCRIPTION>FORM 8-K
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: center;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>UNITED STATES</b></font></p>

<p style="margin: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO SECTION 13 OR 15(d) OF THE</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (Date of earliest event reported): <font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>January</b> <b>16</b></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>, 2018</b></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>HOVNANIAN ENTERPRISES, INC.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact Name of Registrant as Specified in Charter)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Delaware</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>1-8551</b></p>
			</td>
			<td style="vertical-align:top;width:29.5%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>22-1851059</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or Other<br>
			<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Jurisdiction<br>
			of Incorporation)</font></p>
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			<td style="vertical-align:top;width:42.4%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
			</td>
			<td style="vertical-align:top;width:29.5%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(I.R.S<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">. Employer<br>
			Identification No.)</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>110 West Front Street<br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">P.O. Box 500<br>
Red Bank, New Jersey 07701</font></b><br>
<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">(Address of Principal Executive Offices) (Zip Code)</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(732) 747-7800</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Registrant<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code)</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Not Applicable</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Former Name or Former <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Address, if Changed Since</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Last Report)</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.2pt;margin-top:0pt;text-align:justify;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&#9744;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Emerging growth <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">company &#9744;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="margin: 0pt;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&#9744;</font></p>

<p style="margin: 0pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Item 1.01<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<u>Entry into a Material Definitive Agreement.</u></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.9pt;margin-top:0pt;text-align:left;text-indent:36pt;">On January 16, 2018, Hovnanian Enterprises, Inc. (the &ldquo;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Company&rdquo;) announced that its wholly owned subsidiary, K. Hovnanian Enterprises, Inc. (&ldquo;K. Hovnanian&rdquo;), has received the requisite consents to adopt the proposed amendments (the &ldquo;Proposed Amendments&rdquo;) to the indenture governing K. Hovnanian&rsquo;s 10.000% Senior Secured Notes due 2022 (the &ldquo;2022 Notes&rdquo;) and 10.500% Senior Secured Notes due 2024 (the &ldquo;2024 Notes,&rdquo; each of the 2022 Notes and 2024 Notes, a &ldquo;Series&rdquo; of Notes, and collectively, the &ldquo;Notes&rdquo;) with respect to the 2024 Notes from holders of the 2024 Notes in connection with K. Hovnanian&rsquo;s previously announced solicitation of consents with respect thereto (the &ldquo;Consent Solicitation&rdquo;), which expired with respect to the 2024 Notes at 5:00 p.m., New York City time, on January 12, 2018 (the &ldquo;Expiration Date&rdquo;). The Consent Solicitations are made in accordance with the terms and subject to the conditions stated in a Consent Solicitation Statement, dated December 28, 2017 (the &ldquo;Consent Solicitation Statement&rdquo;).</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.9pt;margin-top:0pt;text-align:left;text-indent:36pt;">Following the receipt of the requisite consents with respect to the 2024 Notes, on January 16, 2018, <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">K.&nbsp;Hovnanian, the Company, as guarantor, the other guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent (in both such capacities, the &ldquo;Trustee&rdquo;), executed the Second </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Supplemental Indenture, dated as of January 16, 2018 (the &ldquo;Supplemental Indenture&rdquo;), to the indenture governing the Notes, dated as of July 27, 2017 (as then supplemented, amended or otherwise modified, the &ldquo;Indenture&rdquo;), among K.&nbsp;Hovnanian, the Company, as guarantor, the other guarantors party thereto and the Trustee, giving effect to the Proposed Amendments solely with respect to the 2024 Notes. The Supplemental Indenture with respect to the 2024 Notes&nbsp;eliminates the restrictions on K. Hovnanian&rsquo;s ability to purchase, repurchase, redeem, acquire or retire for value K. Hovnanian&rsquo;s 7.000% Senior Notes due 2019 and 8.000% Senior Notes due 2019 and refinancing or replacement indebtedness in respect thereof contained in the Indenture. The foregoing description of the Supplemental Indenture is not complete and is qualified in its entirety by reference to the Supplemental Indenture, a copy of which is attached as Exhibit 4.1 to this Current Report on Form 8-K (&ldquo;Current Report&rdquo;) and is incorporated herein by reference.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Item 3.03.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<u>Material Modification to Rights of Security Holders</u></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">The information set forth above under Item 1.01 with respect to the Supplemental Indenture is hereby incorporated by reference into this Item 3.03.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Item 8.01.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<u>Other Events</u></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.7pt;margin-top:0pt;text-align:left;text-indent:36pt;">The Company also announced that K. Hovnanian has modified the terms of the Consent Solicitation with respect to <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">the 2022 Notes, as set forth in a Supplement to the Consent Solicitation Statement, dated January 16, 2018 (the &ldquo;Supplement&rdquo;), to (i)&nbsp;extend the expiration date to 5:00 p.m., New York City time, on January 22, 2018 (such date and time, as the same may be extended or earlier terminated, the &ldquo;2022 Notes Expiration Date&rdquo;) and (ii)&nbsp;increase the consent consideration payable to holders of 2022 Notes to $5.00 per $1,000 principal amount of 2022 Notes for which consents have been validly delivered (and not validly revoked) prior to the 2022 Notes Expiration Date. The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in the Consent Solicitation Statement.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.7pt;margin-top:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:7.7pt;margin-top:0pt;text-align:left;text-indent:36pt;">A copy of the press release announcing the ex<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">piration of the Consent Solicitation and receipt of the requisite consents to the Proposed Amendments with respect to the 2024 Notes and the modification of the terms of the Consent Solicitation with respect to the 2022 Notes is attached hereto as Exhibit 99.1 and is incorporated herein by reference into this Item 8.01.</font></p>

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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">Item 9.01.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> </font></p>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><u>Financial Statements and Exhibits</u></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">.</font></p>
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<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">(d) <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; &nbsp; &nbsp; &nbsp;<i>Exhibits.</i></font></p>

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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Exhibit 4.1</p>
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			<p style="font-family:Times New Roman, Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_102989.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Second </font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">Supplemental Indenture, dated as of January 16</font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">, 2018, relating to the 10.500% Senior Secured Notes due 2024, </font><font style="font-size:10pt;font-family:Times New Roman, Times, serif;">among K.&nbsp;Hovnanian Enterprises, Inc., Hovnanian Enterprises, Inc., the other guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent.</font></a></p>
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			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">Exhibit 99.1<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;"><a href="ex_102988.htm" style="-sec-extract:exhibit;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Press Release, issued January 16</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, 2018.</font></a></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u>SIGNATURES</u></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<td colspan="3" style="vertical-align: top; width: 24%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN ENTERPRISES, INC.</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">(Registrant)</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
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			<td style="vertical-align: top; width: 4%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/</p>
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			<td style="vertical-align: top; border-bottom: 1px solid rgb(0, 0, 0); width: 44%;">
			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Michael Discafani</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Name:</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Michael Discafani</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Title:</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Vice President, Corporate Counsel and Secretary</p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date: January <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">16, 2018</font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> </font></p>

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<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>ex_102989.htm
<DESCRIPTION>EXHIBIT 4.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif"><b>Exhibit 4.1</b></font></p>

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<p style="margin-bottom: 0px; text-align: left; margin-top: 0px">&nbsp;</p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px">&nbsp;</p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px">&nbsp;</p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif">&nbsp;</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECOND SUPPLEMENTAL INDENTURE</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">dated as of January 16, 2018</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">among</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">K. HOVNANIAN ENTERPRISES, INC.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">HOVNANIAN ENTERPRISES, INC.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">The Other Guarantors Party Hereto</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">and</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;">WILMINGTON TRUST, NATIONAL ASSOCIATION</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">as Trustee and Collateral Agent</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">_________________________</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">10.500% Senior Secured Notes due 2024</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>THIS SECOND SUPPLEMENTAL INDENTURE</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, dated as of January 16, 2018 (this &ldquo;<u>Second Supplemental Indenture</u>&rdquo;), to the Indenture dated as of July&nbsp;27, 2017, among K.&nbsp;Hovnanian Enterprises, Inc., a California corporation (the &ldquo;<u>Issuer</u>&rdquo;), Hovnanian Enterprises, Inc. (the &ldquo;<u>Company</u>&rdquo;), the other guarantors party thereto and Wilmington Trust, National Association, as trustee and collateral agent (in both such capacities, the &ldquo;<u>Trustee</u>&rdquo;) (as amended and supplemented to the date hereof, the &ldquo;<u>Indenture</u>&rdquo;).</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>W I T N E S S E T H:</b></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the Issuer&rsquo;s 10.500% Senior Secured Notes due 2024 (the &ldquo;<u>Notes</u>&rdquo;) were issued under the Indenture and are guaranteed by the Company, K. HOV IP II, Inc., a California corporation (&ldquo;<u>K. HOV IP</u>&rdquo;), and each of the entities listed on <u>Schedule I</u> hereto (together with K. HOV IP, the &ldquo;<u>Guarantors</u>&rdquo;);</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the Issuer has solicited consents (each a &ldquo;<u>Consent</u>&rdquo; and collectively the &ldquo;<u>Consents</u>&rdquo;) of Holders to the amendment of the Indenture and to the Notes set forth in <u>Section 2</u> of this Second Supplemental Indenture (the &ldquo;<u>Amendment</u>&rdquo;) upon the terms and subject to the conditions set forth in the Consent Solicitation Statement, dated December 28,&nbsp;2017 (the &ldquo;<u>Consent Solicitation Statement</u>&rdquo;);</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, Section 9.2 of the Indenture provides that the Issuer, the Company, the Guarantors and the Trustee may amend or supplement the Indenture, the Notes and the Guarantees with the written consent of the Holders of a majority in principal amount of the outstanding Notes;</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the Issuer has received and delivered to the Trustee written evidence of the Consents from Holders of more than a majority of the outstanding aggregate principal amount of the Notes to effect the Amendment; </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the Issuer, the Company and the Guarantors have been authorized by a resolution of their respective Board of Directors, or the Board of Directors of their ultimate sole or managing member, as the case may be, to enter into this Second Supplemental Indenture; and</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>WHEREAS</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, all other acts and proceedings required by law, by the Indenture and by the organizational documents of the Issuer, the Company and the Guarantors to make this Second Supplemental Indenture a valid and binding agreement for the purposes expressed herein, in accordance with its terms, have been duly done and performed;</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>NOW, THEREFORE</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, in consideration of the premises and the covenants and agreements contained herein, and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Company, the Guarantors and the Trustee hereby agree as follows:</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 1.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> <u>Definitions</u>.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;">Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 2.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> <u>Amendment to the Indenture</u>.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article 1 of the Indenture is hereby amended with respect to the Notes only to delete therefrom the defined terms &ldquo;Existing Unsecured Replacement Indebtedness&rdquo; and &ldquo;Repay&rdquo; or &ldquo;Repayment&rdquo;.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 4.16 (Limitation on Repayment of Existing Unsecured Notes) of the Indenture with respect to the Notes only is hereby amended and restated in its entirety to read as follows:</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&ldquo;Section 4.16. [RESERVED]&rdquo;</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">and the corresponding change shall be made to the Indenture<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s Table of Contents.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 3.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> This Second Supplemental Indenture will become effective immediately upon its execution and delivery but the Amendments set forth in Section 2 of this Second Supplemental Indenture will not become operative unless and until the Consent Consideration (as defined in the Consent Solicitation Statement) is paid by the Issuer in accordance with the terms and conditions of the Consent Solicitation Statement.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 4.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> This Second Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 5.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> This Second Supplemental Indenture may be signed in various counterparts, which together will constitute one and the same instrument.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 6.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> This Second Supplemental Indenture is an amendment supplemental to the Indenture with respect to the Notes, and the Indenture and this Second Supplemental Indenture will henceforth be read together.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 7. </b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Except as expressly provided herein, all of the terms, provisions and conditions of the Indenture and the Notes shall remain in full force and effect.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>SECTION 8.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Second Supplemental Indenture or for or in respect of the Recitals contained herein, all of which are made solely by the Issuer, the Company and each of the Guarantors.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><b>IN WITNESS WHEREOF</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the parties hereto have caused this Second Supplemental Indenture to be duly executed as of the date first above written.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="text-indent: 0; width: 100%;FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">

		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td colspan="2" valign="top" width="38%">
			<p style="margin-top: 0; margin-bottom: 0;"><b>K. HOVNANIAN ENTERPRISES, INC.</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">,</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="38%">as Issuer</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td align="left" nowrap="nowrap" valign="bottom" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td align="left" style="text-align: left;" valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td style="text-align: left" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By: </font></p>
			</td>
			<td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp; /s/ </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">J. Larry Sorsby</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td colspan="2" rowspan="1" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;">Name:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; J. Larry Sorsby</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">Title:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp; Executive Vice President and Chief Financial Officer</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%"><b>HOVNANIAN ENTERPRISES, INC.</b></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="35%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td valign="top" width="3%">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0);" valign="top" width="35%">&nbsp; /s/ <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">J. Larry Sorsby</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" valign="top" width="3%">Name:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; J. Larry Sorsby</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">Title:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp; Executive Vice President and Chief Financial Officer</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">
			<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>K. HOV IP, II, INC.</b></p>
			</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td valign="top" width="3%">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0);" valign="top" width="35%"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; /s/ Brad O&rsquo;Connor</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" valign="top" width="3%">Name:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; Brad O&rsquo;Connor</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">Title:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp; Authorized Officer</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">
			<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-transform: uppercase;"><b>On behalf of each of the entities listed on Schedule I hereto</b></p>
			</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" valign="top" width="3%">&nbsp;</td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td valign="top" width="3%">By:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0);" valign="top" width="35%">&nbsp; /s/ <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;J. Larry Sorsby</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" valign="top" width="3%">Name:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp; J. Larry Sorsby</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>
		<tr>
			<td valign="top" width="50%">&nbsp;</td>
			<td colspan="2" rowspan="1" valign="top" width="3%">Title:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp; Executive Vice President and Chief Financial Officer</font></td>
			<td valign="top" width="12%">&nbsp;</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>WILMINGTON TRUST, NATIONAL </b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ASSOCIATION</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, as Trustee and Collateral Agent</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;<u>&nbsp; /s/ John T. Needham, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Name: John T. Needham, Jr.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Title:&nbsp;&nbsp; Vice President</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

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</div>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>Schedule I</b></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">ARBOR TRAILS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BUILDER SERVICES NJ, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">BUILDER SERVICES PA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">EASTERN NATIONAL TITLE AGENCY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">EASTERN TITLE AGENCY OF ILLINOIS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">EASTERN TITLE AGENCY, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">F&amp;W MECHANICAL SERVICES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">FOUNDERS TITLE AGENCY OF MARYLAND, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">FOUNDERS TITLE AGENCY, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">GLENRISE GROVE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">GOVERNOR&#39;S ABSTRACT CO., INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOMEBUYERS FINANCIAL SERVICES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN ENTERPRISES, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN LAND INVESTMENT GROUP OF MARYLAND, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">HOVNANIAN LAND INVESTMENT GROUP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K HOVNANIAN HOMES AT MAXWELL PLACE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOV IP, II, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ABERDEEN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ACQUISITIONS, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT 240 MISSOURI, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT 4S, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT AIRE ON MCDOWELL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ALISO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ALLENTOWN, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ANDALUSIA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ASBURY PARK URBAN RENEWAL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ASHBY PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT AVENUE ONE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BAKERSFIELD 463, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BARNEGAT I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BARNEGAT II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BEACON PARK AREA 129 II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BEACON PARK AREA 129, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BEACON PARK AREA 137, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BELLA LAGO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BLACKSTONE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BOCA DUNES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRANCHBURG II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRANCHBURG, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRANCHBURG-VOLLERS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRENFORD STATION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRIDGEPORT, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRIDGEWATER I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BRIDGEWATER II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT BURCH KOVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CAMP HILL, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CAPISTRANO, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CARLSBAD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CATANIA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CATON&#39;S RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CEDAR GROVE III, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CEDAR GROVE URBAN RENEWAL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CEDAR LANE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CHARTER WAY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CHESTERFIELD, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CHRISTINA COURT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CIELO, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT COASTLINE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT COOSAW POINT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CORAL LAGO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT CORTEZ HILL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT DENVILLE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT DEPTFORD TOWNSHIP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT DOYLESTOWN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT DUNELLEN URBAN RENEWAL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EAST BRANDYWINE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EAST BRUNSWICK III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EAST BRUNSWICK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EAST WINDSOR, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EDEN TERRACE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EDGEWATER II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EDGEWATER, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EGG HARBOR TOWNSHIP II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EGG HARBOR TOWNSHIP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EL DORADO RANCH II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EL DORADO RANCH, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ESTATES AT WHEATLANDS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EVERGREEN, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FAIRFIELD RIDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FIDDYMENT RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FIFTH AVENUE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FLORENCE I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FLORENCE II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FOREST MEADOWS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FOX PATH AT HAMPTON LAKE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FRANKLIN II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FRANKLIN, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FREEHOLD TOWNSHIP III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT FRESNO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT GALLERY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT GILROY 60, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT GILROY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT GREAT NOTCH, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HACKETTSTOWN II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HAMPTON COVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HAMPTON LAKE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HANOVER ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HERSHEY&#39;S MILL, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HIDDEN BROOK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HILLSBOROUGH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HILLTOP RESERVE II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HILLTOP RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HOWELL FORT PLAINS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HOWELL II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HOWELL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HUDSON POINTE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HUNTFIELD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT INDIAN WELLS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ISLAND LAKE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT JACKSON I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT JACKSON, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT JAEGER RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT JERSEY CITY IV, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT KEYPORT, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LA COSTA GREENS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LA LAGUNA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE BURDEN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE LECLARE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE RANCHO VIEJO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE RIDGE ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE TERRAPIN, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LEE SQUARE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LENAH WOODS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LILY ORCHARD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LINK FARM, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LITTLE EGG HARBOR TOWNSHIP II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LITTLE EGG HARBOR, L.L.C</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LOWER MACUNGIE TOWNSHIP II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LOWER MAKEFIELD TOWNSHIP I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LOWER MORELAND II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MAGNOLIA PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MAHWAH VI, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MAIN STREET SQUARE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MALAN PARK, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANALAPAN II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANALAPAN III, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANALAPAN V, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANALAPAN VI, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANSFIELD II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANTECA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MAPLE AVENUE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MARLBORO IX, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MARLBORO TOWNSHIP IX, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MARLBORO TOWNSHIP V, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MARLBORO VI, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MARPLE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MEADOWRIDGE VILLAS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MELANIE MEADOWS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MENDHAM TOWNSHIP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MIDDLE TOWNSHIP II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MIDDLE TOWNSHIP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MIDDLETOWN II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MIDDLETOWN III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MIDDLETOWN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MILLVILLE I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MILLVILLE II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONROE IV, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONROE NJ II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONROE NJ III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONROE NJ, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONTANA VISTA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONTGOMERY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONTVALE II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONTVALE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MORRIS TWP, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MUIRFIELD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH BERGEN. L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH CALDWELL II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH CALDWELL III, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH CALDWELL IV, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTH WILDWOOD, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTHAMPTON, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTHFIELD, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTHRIDGE ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NORTON LAKE LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT NOTTINGHAM MEADOWS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OAK POINTE, LLC</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OCEAN TOWNSHIP, INC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OCEAN VIEW BEACH CLUB, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OCEANPORT, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OLD BRIDGE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PALM VALLEY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PARK PASEO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PARKSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PARSIPPANY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PAVILION PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PIAZZA D&#39;ORO, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PIAZZA SERENA, L.L.C</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PICKETT RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PITTSGROVE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PLANTATION LAKES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT POINTE 16, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT POSITANO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PRADO, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT PRAIRIE POINTE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT QUAIL CREEK, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RANCHO CABRILLO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RAPHO, L.L.C</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT REDTAIL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RESERVES AT WHEATLANDS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RESIDENCE AT DISCOVERY SQUARE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RIDGEMONT, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ROCK LEDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT RODERUCK, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT ROSEMARY LANTANA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SAGE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SAGEBROOK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SANTA NELLA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SAWMILL, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SEASONS LANDING, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SHELDON GROVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SHREWSBURY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SIENNA HILLS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SIGNAL HILL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SILVER SPRING, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SILVERSTONE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SKYE ISLE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SKYE ON MCDOWELL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SMITHVILLE, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SOMERSET, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SOUTH BRUNSWICK II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SOUTH BRUNSWICK III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SOUTH BRUNSWICK, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SPRING ISLE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT STANTON, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT STATION SQUARE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SUMMERLAKE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SUNRIDGE PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SUNRISE TRAIL II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SUNRISE TRAIL III, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT TERRA BELLA TWO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THE COMMONS AT RICHMOND HILL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THE CROSBY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THE MONARCH, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THE PROMENADE AT BEAVER CREEK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THOMPSON RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT TRAFFORD PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT TRAIL RIDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT TRAMORE LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT UPPER PROVIDENCE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT UPPER UWCHLAN II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT UPPER UWCHLAN, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VALLE DEL SOL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VENTANA LAKES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VERONA ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VERONA URBAN RENEWAL, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VERRADO CASCINA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VERRADO MARKETSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VICTORVILLE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VINEYARD HEIGHTS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT VISTA DEL SOL, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WALDWICK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WALKERS GROVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WALL DONATO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WARREN TOWNSHIP II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WARREN TOWNSHIP, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WATERSTONE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WAYNE IX, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WEST VIEW ESTATES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WESTBROOK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WESTSHORE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WHEELER RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WHEELER WOODS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WHITEMARSH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WILDWOOD BAYSIDE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WOODCREEK WEST, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WOOLWICH I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN BELDEN POINTE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN BELMONT RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CAMBRIDGE HOMES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CLASSICS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMMUNITIES, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES OF CALIFORNIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES OF MARYLAND, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES OF NEW YORK, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES OF PENNSYLVANIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES OF SOUTHERN CALIFORNIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN COMPANIES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CONSTRUCTION II, INC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CONSTRUCTION III, INC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CONSTRUCTION MANAGEMENT, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CONTRACTORS OF OHIO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CORNERSTONE FARMS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CRAFTBUILT HOMES OF SOUTH CAROLINA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN CYPRESS KEY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF CALIFORNIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF D.C., INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF DELAWARE, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF GEORGIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF ILLINOIS, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF KENTUCKY, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF MARYLAND, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF MINNESOTA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY II, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF NEW JERSEY, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF NEW YORK, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF NORTH CAROLINA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF OHIO, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF PENNSYLVANIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF SOUTH CAROLINA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF TEXAS, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF VIRGINIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DEVELOPMENTS OF WEST VIRGINIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW AUBURN FARMS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW BELMONT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW CREEKSIDE ESTATES II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW CREEKSIDE ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW ENCORE OF LAS COLINAS II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW ENCORE OF LAS COLINAS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW HARMON FARMS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW HERITAGE CROSSING, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW HOMESTEAD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW INSPIRATION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LEXINGTON, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LIBERTY CROSSING II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LIBERTY CROSSING, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LIGHT FARMS II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LIGHT FARMS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW MIDTOWN PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW PALISADES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW PARKSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW RIDGEVIEW, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW SEVENTEEN LAKES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW TRAILWOOD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW VILLAS AT MUSTANG PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW WELLINGTON, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW WILDRIDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN EASTERN PENNSYLVANIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN EDGEBROOK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ENTERPRISES, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ESTATES AT FOX CHASE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ESTATES AT REGENCY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ESTATES AT WEKIVA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN FALLS POINTE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN FIRST HOMES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN FLORIDA REALTY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN FOREST VALLEY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN GRAND CYPRESS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN GRANDEFIELD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN GREAT WESTERN BUILDING COMPANY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN GREAT WESTERN HOMES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HAMPTONS AT OAK CREEK II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HIDDEN HOLLOW, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HIGHLAND RIDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOLDINGS NJ, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES - DFW, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT BROOK MANOR, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT BURKE JUNCTION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT CAMP SPRINGS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT CREEKSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT GREENWAY FARM PARK TOWNS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT GREENWAY FARM, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT JONES STATION 1, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT LEIGH MILL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT PENDER OAKS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT REEDY CREEK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT RUSSETT, L.L.C.</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT SALT CREEK LANDING, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT SHELL HALL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT SHENANDOAH SPRINGS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT ST. JAMES PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT THE ABBY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT THE HIGHLANDS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT THE PADDOCKS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT THOMPSON&#39;S GRANT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT WILLOWSFORD GRANT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES AT WILLOWSFORD GREENS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF D.C., L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF DELAWARE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF GEORGIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF HOUSTON, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF LONGACRE VILLAGE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MARYLAND, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT ARBOR CREEK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT AUTUMN MEADOWS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT BRYNWOOD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT CEDAR HOLLOW, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT FOUNDER&#39;S RIDGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT HARPERS STREET WOODS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT OAKS OF OXBOW, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA AT REGENT&#39;S POINT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF MINNESOTA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF PENNSYLVANIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF SOUTH CAROLINA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF VIRGINIA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOMES OF WEST VIRGINIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON BAYOU OAKS AT WEST OREM, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON CAMBRIDGE HEIGHTS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON CITY HEIGHTS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON CREEK BEND, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON DRY CREEK VILLAGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON KATY POINTE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON SUNSET RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON THUNDER BAY SUBDIVISION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON TRANQUILITY LAKE ESTATES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON WOODSHORE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN INDIAN TRAILS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN LADUE RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN LAKES OF GREEN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN LANDINGS 40S, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN LEGACY AT VIA BELLA, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN LIBERTY ON BLUFF CREEK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN MANALAPAN ACQUISITION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN MONARCH GROVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN NORTH CENTRAL ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN NORTH JERSEY ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN NORTHEAST SERVICES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN NORTHPOINTE 40S, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN NORTON PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN OF HOUSTON II, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN OF OHIO, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN OHIO REALTY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PA REAL ESTATE, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PENNSYLVANIA ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PORT IMPERIAL URBAN RENEWAL, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PRESERVE AT TURTLE CREEK LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PROPERTIES OF RED BANK, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN REYNOLDS RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN RIVENDALE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN RIVERSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SCHADY RESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SHERWOOD AT REGENCY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SHORE ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SOUTH FORK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SOUTH JERSEY ACQUISITIONS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SOUTHERN NEW JERSEY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN STERLING RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SUMMIT HOLDINGS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SUMMIT HOMES OF KENTUCKY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SUMMIT HOMES OF PENNSYLVANIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SUMMIT HOMES OF WEST VIRGINIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN SUMMIT HOMES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN T&amp;C HOMES AT FLORIDA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN T&amp;C HOMES AT ILLINOIS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN TIMBRES AT ELM CREEK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN UNION PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN VENTURE I, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN VILLAGE GLEN, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WATERBURY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WHITE ROAD, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WINDWARD HOMES, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WOODLAND POINTE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WOODRIDGE PLACE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT BAKERSFIELD, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT BAYMONT FARMS L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT BEAUMONT, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT BRIARGATE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT HEMET, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT KENT ISLAND CONDOMINIUMS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT KENT ISLAND, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT LOS BANOS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT MORENO VALLEY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT NEW KENT VINEYARDS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT PALM SPRINGS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT RENAISSANCE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT RUSH CREEK II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT RUSH CREEK, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT SILVER MAPLE FARM, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT ST. MARGARETS LANDING, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT THE MANOR II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT THE MANOR, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S PARKSIDE AT TOWNGATE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S VERANDA AT RIVERPARK II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S VERANDA AT RIVERPARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">KHH SHELL HALL LOAN ACQUISITION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">LANDARAMA, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">LAUREL HIGHLANDS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">M &amp; M AT MONROE WOODS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">M&amp;M AT CHESTERFIELD, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">M&amp;M AT CRESCENT COURT, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">M&amp;M AT WEST ORANGE, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MATZEL &amp; MUMFORD AT EGG HARBOR, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MCNJ, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MIDWEST BUILDING PRODUCTS &amp; CONTRACTOR SERVICES OF PENNSYLVANIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MIDWEST BUILDING PRODUCTS &amp; CONTRACTOR SERVICES OF WEST VIRGINIA, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MIDWEST BUILDING PRODUCTS &amp; CONTRACTOR SERVICES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">MM-BEACHFRONT NORTH I, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">NEW HOME REALTY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">NEW LAND TITLE AGENCY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">PADDOCKS, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">PARK TITLE COMPANY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">PINE AYR, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">RIDGEMORE UTILITY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">SEABROOK ACCUMULATION CORPORATION</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">SHELL HALL CLUB AMENITY ACQUISITION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">SHELL HALL LAND ACQUISITION, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">STONEBROOK HOMES, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">TERRAPIN REALTY, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">THE MATZEL &amp; MUMFORD ORGANIZATION, INC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">WASHINGTON HOMES, INC.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">WOODMORE RESIDENTIAL, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">WTC VENTURES, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">ROUTE 1 AND ROUTE 522, L.L.C.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN MAGNOLIA AT WESTSIDE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT THE MEADOWS 9, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SILVERSTONE G, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MONTANA VISTA DOBBINS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW TRAILWOOD II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT MANALAPAN CROSSING, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OAKLAND, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT SOUTH BRUNSWICK IV, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN ASPIRE AT BELLEVUE RANCH, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN MEADOW VIEW AT MOUNTAIN HOUSE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN WINDING BAY PRESERVE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT WATCHUNG HEIGHTS, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT EMBREY MILL VILLAGE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN PROPERTIES OF RED BANK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW SANFORD PARK, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN HOUSTON TERRA DEL SOL, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT LAKE FLORENCE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN DFW LIBERTY, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT OLD BRIDGE II, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN&#39;S FOUR SEASONS AT BELLE TERRE, LLC</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. HOVNANIAN AT HOWELL FORT PLAINS, LLC</p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex_102988.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif"><b>Exhibit 99.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-size: 10pt; font-family: Times New Roman, Times, serif">&nbsp;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td colspan="2" rowspan="1" style="width: 8%;">HOVNANIAN ENTERPRISES, INC<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>.</b></font></td>
			<td style="width: 37%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>For Immediate Release</b></font></td>
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			<td style="width: 8%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 55%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 37%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
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			<td style="width: 8%;"><b>Contact:</b></td>
			<td style="width: 55%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Jeffrey T. O&rsquo;Keefe</font></td>
			<td style="width: 37%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Ethan Lyle</font></td>
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			<td style="width: 8%;">&nbsp;</td>
			<td style="width: 55%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Vice President of Investor Relations</font></td>
			<td style="width: 37%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Teneo Strategy</font></td>
		</tr>
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			<td style="width: 8%;">&nbsp;</td>
			<td style="width: 55%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">732-747-7800</font></td>
			<td style="width: 37%;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">212-886-9376</font></td>
		</tr>
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			<td style="width: 8%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 55%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 37%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>K. HOVNANIAN ENTERPRISES, INC. ANNOUNCES EXPIRATION OF CONSENT SOLICITATION FOR ITS 2024 NOTES AND EXTENSION OF EXPIRATION DATE AND AMENDMENT FOR THE CONSENT SOLICITATION FOR ITS 2022 NOTES</b></u></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">RED BANK, NJ, January 16, 2018 <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&ndash; Hovnanian Enterprises, Inc. (NYSE: HOV) (the &ldquo;Company&rdquo;) announced today that its wholly owned subsidiary, K.&nbsp;Hovnanian Enterprises, Inc. (&ldquo;K.&nbsp;Hovnanian&rdquo;), has received the requisite consents to adopt the proposed amendments (the&nbsp;&ldquo;Proposed Amendments&rdquo;) to the indenture governing K. Hovnanian&rsquo;s 10.000% Senior Secured Notes due 2022 (the &ldquo;2022 Notes&rdquo;) and 10.500% Senior Secured Notes due 2024 (the &ldquo;2024 Notes,&rdquo; each of the 2022 Notes and 2024 Notes, a &ldquo;Series&rdquo; of Notes, and collectively, the &ldquo;Notes&rdquo;) with respect to the 2024 Notes from holders of the 2024 Notes in connection with K. Hovnanian&rsquo;s previously announced solicitation of consents with respect thereto (the &ldquo;Consent Solicitation&rdquo;), which expired with respect to the 2024 Notes at 5:00 p.m., New York City time, on January 12, 2018 (the &ldquo;Expiration Date&rdquo;). The Consent Solicitations are made in accordance with the terms and subject to the conditions stated in a Consent Solicitation Statement, dated December 28, 2017 (the &ldquo;Consent Solicitation Statement&rdquo;).</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K.<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Hovnanian has notified Wilmington Trust, National Association, the trustee and collateral agent under the indenture related to the Notes (in both such capacities, the &ldquo;Trustee&rdquo;), that it has received the consent of the Holders of at least a majority in aggregate principal amount of outstanding 2024 Notes as required to adopt the Proposed Amendments to the indenture governing the Notes solely with respect to the 2024 Notes. Accordingly, K.&nbsp;Hovnanian, the Company, as guarantor, the other guarantors party thereto (together with the Company, the &ldquo;Guarantors&rdquo;), and the Trustee executed on January 16, 2018 a supplemental indenture to the indenture governing the Notes (the &ldquo;Supplemental Indenture&rdquo;) effecting the Proposed Amendments with respect to the 2024 Notes. The Supplemental Indenture is effective and constitutes a binding agreement among K.&nbsp;Hovnanian, the Guarantors and the Trustee as of its date of execution. However, the Supplemental Indenture, by its terms, provides that the Proposed Amendments will not become operative unless and until K.&nbsp;Hovnanian pays the consent consideration to the Information and Tabulation Agent for the consenting holders of the 2024 Notes, which it intends to do promptly.</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Holders of the 2024 Notes who validly delivered (and did not validly revoke) consents to the Proposed Amendments in the manner described in the Consent Solicitation Statement prior to the Expiration Date are eligible to receive consent consideration equal to $2.50 per $1,000 principal amount of 2024 Notes for which consents were validly delivered prior to the Expiration Date (and not validly revoked prior to the date the Supplemental Indenture was executed and became effective). Holders of the 2024 Notes that provide consents after the Expiration Date will not receive consent consideration.</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">The Company also announced that K. Hovnanian has modified the terms of the Consent Solicitation with respect to the 2022 Notes, as set forth in a Supplement to the Consent Solicitation Statement, dated January 16, 2018 (the &ldquo;Supplement&rdquo;), and as discussed below.</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">As discussed in the Supplement, the terms of the Consent Solicitation with respect to the 2022 Notes have been modified to extend the expiration date and increase the consent consideration. The expiration date for the Consent Solicitation has been extended to 5:00 p.m., New York City time, on January 22, 2018 (such time and date, as the same may be extended or earlier terminated, the &ldquo;2022 Notes Expiration Date&rdquo;). Holders of 2022 Notes who validly deliver (and do not validly revoke) consents to the Proposed Amendments with respect to the 2022 Notes in the manner described in the Consent Solicitation Statement will now be eligible to receive consent consideration equal to $5.00 per $1,000 principal amount of 2022 Notes for which consents have been validly delivered prior to the 2022 Notes Expiration Date (and not validly revoked).</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Holders of 2022 Notes who have previously delivered consents do not need to redeliver such consents or take any other action in response to this announcement in order to consent or receive the increased consent consideration upon the successful conclusion of the Consent Solicitation relating to the 2022 Notes. Holders of the 2022 Notes are referred to the Consent Solicitation Statement for the detailed terms and conditions of the Consent Solicitation with respect to the 2022 Notes, all of which remain unchanged except as set forth in this release and the Supplement.</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Requests for copies of the Consent Solicitation Statement and other related materials should be directed to Global Bondholder Services Corporation, the Information and Tabulation Agent for the Consent Solicitations, at (212) 430-3774 (collect) or (866) 470-4300 (toll-free).</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">K. Hovnanian<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s obligations to pay the consent consideration are set forth solely in the Consent Solicitation Statement. This press release, the Supplement and the Consent Solicitation Statement shall not constitute an offer to sell nor a solicitation of an offer to purchase any Notes or other securities. The Consent Solicitation is being made only by, and pursuant to the terms of, the Consent Solicitation Statement and with respect to the 2022 Notes, the Supplement, and the information in this news release is qualified by reference to the Consent Solicitation Statement, and with respect to the 2022 Notes, the Supplement. No recommendation is made, or has been authorized to be made, as to whether or not holders of 2022 Notes should consent to the adoption of the Proposed Amendments pursuant to the Consent Solicitation. Each holder of 2022 Notes must make its own decision as to whether to give its consent to the Proposed Amendments. The Consent Solicitation is not being made in any jurisdiction in which the making thereof would not be in compliance with the applicable laws of such jurisdiction. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of K. Hovnanian by one or more registered brokers or dealers licensed under the laws of such jurisdiction. None of the Company, K. Hovnanian or the Information and Tabulation Agent makes any recommendation in connection with the Consent Solicitation. Subject to applicable law, K. Hovnanian may amend, extend or terminate the Consent Solicitation.</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>About Hovnanian Enterprises</b></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The Company&rsquo;s homes are marketed and sold under the trade names K. Hovnanian&reg; Homes, Brighton Homes&reg; and Parkwood Builders. As the developer of K. Hovnanian&rsquo;s&reg; Four Seasons communities, the Company is also one of the nation&rsquo;s largest builders of active lifestyle communities.</font></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Forward-Looking Statements</b></p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">All statements in this press release that are not historical facts should be considered as &ldquo;Forward-Looking Statements.&rdquo; Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such forward-looking statements include but are not limited to statements related to the Company<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s goals and expectations with respect to its financial results for future financial periods. Although we believe that our plans, intentions and expectations reflected in, or suggested by, such forward-looking statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. By their nature, forward-looking statements: (i) speak only as of the date they are made, (ii) are not guarantees of future performance or results and (iii) are subject to risks, uncertainties and assumptions that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from those forward-looking statements as a result of a variety of factors. Such risks, uncertainties and other factors include, but are not limited to, (1) changes in general and local economic, industry and business conditions and impacts of a sustained homebuilding downturn; (2) adverse weather and other environmental conditions and natural disasters; (3) levels of indebtedness and restrictions on the Company&rsquo;s operations and activities imposed by the agreements governing the Company&rsquo;s outstanding indebtedness; (4) the Company&#39;s sources of liquidity; (5) changes in credit ratings; (6) changes in market conditions and seasonality of the Company&rsquo;s business; (7) the availability and cost of suitable land and improved lots; (8) shortages in, and price fluctuations of, raw materials and labor; (9) regional and local economic factors, including dependency on certain sectors of the economy, and employment levels affecting home prices and sales activity in the markets where the Company builds homes; (10) fluctuations in interest rates and the availability of mortgage financing; (11) changes in tax laws affecting the after-tax costs of owning a home; (12) operations through joint ventures with third parties; (13) government regulation, including regulations concerning development of land, the home building, sales and customer financing processes, tax laws and the environment; (14) product liability litigation, warranty claims and claims made by mortgage investors; (15) levels of competition; (16) availability and terms of financing to the Company; (17) successful identification and integration of acquisitions; (18) significant influence of the Company&rsquo;s controlling stockholders; (19) availability of net operating loss carryforwards; (20) utility shortages and outages or rate fluctuations; (21) geopolitical risks, terrorist acts and other acts of war; (22) increases in cancellations of agreements of sale; (23) loss of key management personnel or failure to attract qualified personnel; (24) information technology failures and data security breaches; (25) legal claims brought against us and not resolved in our favor; and (26) certain risks, uncertainties and other factors described in detail in the Company&rsquo;s Annual Report on Form 10-K for the fiscal year ended October 31, 2017 and subsequent filings with the Securities and Exchange Commission. Except as otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.</font></p>

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