GUARANTEE
Exhibit 4.2
GUARANTEE
The undersigned (the "Guarantors") have unconditionally
guaranteed, jointly and severally (such guarantee by each Guarantor being
referred to herein as the "Guarantee") (i) the due and punctual payment of
the principal of and interest on the Notes, whether at maturity, by
acceleration or otherwise, the due and punctual payment of interest on the
overdue principal and interest, if any, on the Notes, to the extent lawful,
and the due and punctual performance of all other obligations of the Issuer
to the Holders or the Trustee all in accordance with the terms set forth in
Article 5 of the Supplemental Indenture and (ii) in case of any extension of
time of payment or renewal of any Notes or any of such other obligations,
that the same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise.
No past, present or future stockholder, officer, director,
employee or incorporator, as such, of any of the Guarantors shall have any
liability under the Guarantee by reason of such person's status as
stockholder, officer, director, employee or incorporator. Each Holder of a
Note by accepting a Note waives and releases all such liability. This waiver
and release are part of the consideration for the issuance of the Guarantees.
Each Holder of a Note by accepting a Note agrees that any
Guarantor named below shall have no further liability with respect to its
Guarantee if such Guarantor otherwise ceases to be liable in respect of its
Guarantee in accordance with the terms of the Indenture.
The Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Notes upon which the
Guarantee is noted shall have been executed by the Trustee under the
Indenture by the manual signature of one of its authorized officers.
HOVNANIAN ENTERPRISES, INC.
X. XXXXXXXXX AT HOPEWELL ILL, INC.
RECREATIONAL DEVELOPMENT CORP.,
INC.
PINE BROOK COMPANY, INC.
X. XXXXXXXXX AT BEDMINSTER, INC.
X. XXXXXXXXX AT THE BLUFF, INC.
X. XXXXXXXXX AT ATLANTIC CITY, INC.
HOVNANIAN PROPERTIES OF ATLANTIC
COUNTY, INC.
MONTEGO BAY I ACQUISITION CORP.,
INC.
PIKE UTILITIES, INC.
ARROW PROPERTIES, INC.
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X. XXXXXXXXX REAL ESTATE
INVESTMENT, INC.
HOVNANIAN TEXAS, INC.
LANDARAMA, INC.
TROPICAL SERVICE BUILDERS, INC.
HOVNANIAN PENNSYLVANIA, INC.
X. XXXXXXXXX PROPERTIES OF NORTH
BRUNSWICK V, INC.
X. XXXXXXXXX AT MAHWAH VIII, INC.
X. XXXXXXXXX AT WALL TOWNSHIP IV,
INC.
X. XXXXXXXXX AT MONTVILLE, INC.
HOVNANIAN OF PALM BEACH, INC.
X. XXXXXXXXX COMPANIES OF FLORIDA,
INC.
X. XXXXXXXXX AT FREEHOLD TOWNSHIP,
INC.
HOVNANIAN PROPERTIES OF LAKE WORTH,
INC.
X. XXXXXXXXX COMPANIES OF PENNSYL-
VANIA, INC.
X. XXXXXXXXX PROPERTIES OF
XXXXXXXX, INC.
X. XXXXXXXXX AT SCOTCH PLAINS, INC.
X. XXXXXXXXX AT XXXXX XX, INC.
HOVNANIAN DEVELOPMENTS OF FLORIDA,
INC.
MONTEGO BAY II ACQUISITION CORP.,
INC.
HOVNANIAN OF PALM BEACH VII, INC.
X. XXXXXXXXX AT WALL TOWNSHIP II,
INC.
X. XXXXXXXXX ENTERPRISES, INC.
HOVNANIAN OF PALM BEACH IX, INC.
HOVNANIAN AT TARPON LAKES I, INC.
X. XXXXXXXXX COMPANIES NORTHEAST,
INC.
KINGS GRANT EVESHAM CORP.
X. XXXXXXXXX AT MANALAPAN, INC.
X. XXXXXXXXX AT WALL TOWNSHIP, INC.
X. XXXXXXXXX AT EAST BRUNSWICK VII,
INC.
X. XXXXXXXXX COMPANIES OF CENTRAL
JERSEY, INC.
HOVNANIAN OF PALM BEACH XI, INC.
X. XXXXXXXXX AT SOUTH BRUNSWICK II,
INC.
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X. XXXXXXXXX AT XXXXXXXX SQUARE,
INC.
X. XXXXXXXXX AT TARPON LAKES III,
INC.
X. XXXXXXXXX AT HORIZON HEIGHTS,
INC.
X. XXXXXXXXX AT RESERVOIR RIDGE,
INC.
X. XXXXXXXXX AT JERSEY CITY I, INC.
X. XXXXXXXXX INVESTMENT PROPERTIES
OF NEW JERSEY, INC.
X. XXXXXXXXX AT FT. XXXXX I, INC.
X. XXXXXXXXX AT XXXXXX TOWNSHIP II,
INC.
X. XXXXXXXXX AT KLOCKNER FARMS,
INC.
X. XXXXXXXXX AT XXXXXX BEACH, INC.
XXXXX XXXXXXX CONSTRUCTION CO.,
INC.
X. XXXXXXXXX AT MAHWAH VII, INC.
X. XXXXXXXXX AT XXXXX III, INC.
X. XXXXXXXXX PROPERTIES OF EAST
BRUNSWICK II, INC.
X. XXXXXXXXX AT KINGS GRANT I, INC.
THE NEW FORTIS CORPORATION
X. XXXXXXXXX AT CLARKSTOWN, INC.
X. XXXXXXXXX COMPANIES OF NEW YORK,
INC.
X. XXXXXXXXX DEVELOPMENTS OF NEW
YORK, INC.
DRYER ASSOCIATES, INC.
X. XXXXXXXXX AT PASCO I, INC.
X. XXXXXXXXX AT LAKEWOOD, INC.
X. XXXXXXXXX AT XXXXXX XXXXX XX,
INC.
X. XXXXXXXXX AVIATION, INC.
X. XXXXXXXXX INVESTMENT PROPERTIES,
INC.
X. XXXXXXXXX AT FT. XXXXX II, INC.
X. XXXXXXXXX AT XXXXXXXX II, INC.
X. XXXXXXXXX AT SOUTH BRUNSWICK
III, INC.
XXXXXXX GROUP, INC.
X. XXXXXXXXX DEVELOPMENTS OF NEW
JERSEY, INC.
X. XXXXXXXXX AT BRIDGEWATER V, INC.
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X. XXXXXXXXX AT NORTH BRUNSWICK II,
INC.
X. XXXXXXXXX AT WASHINGTONVILLE,
INC.
X. XXXXXXXXX AT PEEKSKILL, INC.
X. XXXXXXXXX AT NEWARK I, INC.
X. XXXXXXXXX AT CARMEL, INC.
X. XXXXXXXXX AT EAST WINDSOR I,
INC.
PARTHENON GROUP, INC.
X. XXXXXXXXX AT MARLBORO TOWNSHIP
II, INC.
X. XXXXXXXXX AT SOMERSET III, INC.
R.C.K. COMMUNITY MANAGEMENT CO.,
INC.
X. XXXXXXXXX AT MONTCLAIR, NJ, INC.
X. XXXXXXXXX AT EAST BRUNSWICK VI,
INC.
X. XXXXXXXXX AT HACKETTSTOWN, INC.
X. XXXXXXXXX COMPANIES OF NORTH
CAROLINA, INC.
X. XXXXXXXXX AT MONTVILLE II, INC.
X. XXXXXXXXX AT WALL TOWNSHIP VII,
INC.
X. XXXXXXXXX AT BRIDGEWATER II,
INC.
X. XXXXXXXXX AT MERRIMACK, INC.
X. XXXXXXXXX AT XXXXXXXX III, INC.
EASTERN NATIONAL TITLE INSURANCE
AGENCY, INC.
X. XXXXXXXXX AT XXXXX V, INC.
X. XXXXXXXXX AT XXXXX XX, INC.
X. XXXXXXXXX AT DELRAY BEACH II,
INC.
X. XXXXXXXXX AT BRANCHBURG I, INC.
X. XXXXXXXXX AT PLAINSBORO II, INC.
X. XXXXXXXXX AT NORTHERN
WESTCHESTER, INC.
X. XXXXXXXXX AT MARLBORO TOWNSHIP,
INC.
X. XXXXXXXXX AT WEST ORANGE, INC.
EASTERN TITLE AGENCY, INC.
X. XXXXXXXXX PROPERTIES OF
FRANKLIN, INC.
X. XXXXXXXXX AT MAHWAH II, INC.
NEW ENGLAND COMMUNITY MANAGEMENT
COMPANY, INC.
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X. XXXXXXXXX AT XXXXXX TOWNSHIP,
INC.
X. XXXXXXXXX AT SOUTH BRUNSWICK IV,
INC.
X. XXXXXXXXX AT WALL TOWNSHIP VI,
INC.
X. XXXXXXXXX PROPERTIES OF
PISCATAWAY, INC.
X. XXXXXXXXX AT MAHWAH V, INC.
X. XXXXXXXXX AT MERRIMACK II, INC.
X. XXXXXXXXX AT NEWARK URBAN
RENEWAL CORPORATION I
X. XXXXXXXXX AT XXXXXXXX XXXXX,
INC.
X. XXXXXXXXX AT CEDAR GROVE I, INC.
X. XXXXXXXXX AT CEDAR GROVE II,
INC.
X. XXXXXXXXX AT NORTH BRUNSWICK
III, INC.
X. XXXXXXXXX AT JERSEY CITY II,
INC.
X. XXXXXXXXX AT BURLINGTON, INC.
X. XXXXXXXXX AT SOUTH BRUNSWICK V,
INC.
X. XXXXXXXXX AT HALF MOON BAY, INC.
X. XXXXXXXXX AT JACKSONVILLE II,
INC.
X. XXXXXXXXX AT BRANCHBURG II, INC.
X. XXXXXXXXX AT EMBASSY LAKES, INC.
X. XXXXXXXXX AT THE RESERVE AT
MEDFORD, INC.
X. XXXXXXXXX AT BRANCHBURG III,
INC.
X. XXXXXXXXX AT LOWER SAUCON, INC.
JERSEY CITY XXXXXXXX CSO, INC.
X. XXXXXXXXX AT EAST WINDSOR II,
INC.
X. XXXXXXXXX AT MARLBORO TOWNSHIP
III, INC.
X. XXXXXXXXX AT NEWARK URBAN
RENEWAL CORP. III, INC.
X. XXXXXXXXX AT SOMERSET VIII, INC.
X. XXXXXXXXX AT READINGTON, INC.
X. XXXXXXXXX AT HOPEWELL I, INC.
X. XXXXXXXXX AT NEWARK URBAN
RENEWAL CORP. IV, INC.
X. XXXXXXXXX AT NEWARK URBAN
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RENEWAL CORP. V, INC.
X. XXXXXXXXX AT PLAINSBORO III,
INC.
X. XXXXXXXXX AT MAHWAH IV, INC.
X. XXXXXXXXX AT POMPANO BEACH, INC.
X. XXXXXXXXX AT JERSEY CITY III,
INC.
X. XXXXXXXXX PROPERTIES OF
NEWARK URBAN RENEWAL
CORPORATION, INC.
X. XXXXXXXXX AT NORTH BRUNSWICK IV,
INC.
X. XXXXXXXXX AT BRIDGEWATER IV,
INC.
X. XXXXXXXXX AT SOUTH BRUNSWICK,
INC.
X. XXXXXXXXX AT PERKIOMEN I, INC.
X. XXXXXXXXX AT VALLEYBROOK, INC.
X. XXXXXXXXX AT OCEAN TOWNSHIP,
INC.
X. XXXXXXXXX AT PLAINSBORO I, INC.
X. XXXXXXXXX REAL ESTATE OF
FLORIDA, INC.
WESTERN FINANCIAL SERVICES, INC.
X. XXXXXXXXX AT XXXXX, INC.
X. XXXXXXXXX PROPERTIES OF RED
BANK, INC.
X. XXXXXXXXX AT HANOVER, INC.
X. XXXXXXXXX AT LAKE CHARLESTON,
INC.
NEW X. XXXXXXXXX DEVELOPMENTS OF
FLORIDA, INC.
X. XXXXXXXXX COMPANIES OF METRO
WASHINGTON, INC.
X. XXXXXXXXX AT XXXXXXXXXX I, INC.
EXC, INC.
X. XXXXXXXXX DEVELOPMENTS OF METRO
WASHINGTON, INC.
X. XXXXXXXXX AT XXXXXXX VILLAGE,
INC.
X. XXXXXXXXX AT WOODMONT, INC.
X. XXXXXXXXX AT FAIRWAY VIEWS, INC.
X. XXXXXXXXX AT CAROLINA COUNTRY
CLUB I, INC.
X. XXXXXXXXX AT CHAPEL TRAIL, INC.
X. XXXXXXXXX TREASURE COAST, INC.
X. XXXXXXXXX AT UPPER MERION, INC.
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X. XXXXXXXXX AT MAHWAH VI, INC.
X. XXXXXXXXX AT MEDFORD I, INC.
K. HOV INTERNATIONAL, INC.
X. XXXXXXXXX AT MONTCLAIR, INC.
X. XXXXXXXXX AT BULL RUN, INC.
X. XXXXXXXXX AT SULLY STATION, INC.
X. XXXXXXXXX AT SPRING RIDGE, INC.
X. XXXXXXXXX MARINE, INC.
X. XXXXXXXXX AT RIVER OAKS, INC.
X. XXXXXXXXX AT XXXXX CREST, INC.
X. XXXXXXXXX PROPERTIES OF ROUTE
35, INC.
STONEBROOK HOMES, INC.
X. XXXXXXXXX AT XXXXXXX TRAILS,
INC.
X. XXXXXXXXX AT LAKES OF BOCA
RATON, INC.
X. XXXXXXXXX AT LAKE CHARLESTON II,
INC.
X. XXXXXXXXX AT LAKE CHARLESTON
III, INC.
X. XXXXXXXXX AT BRIDGEWATER VI,
INC.
KHIPE, INC.
X. XXXXXXXXX AT FAIR LAKES, INC.
X. XXXXXXXXX AT CAROLINA COUNTRY
CLUB II, INC.
X. XXXXXXXXX AT VALLEYBROOK II,
INC.
X. XXXXXXXXX AT PARK RIDGE, INC.
X. XXXXXXXXX AT BELMONT, INC.
X. XXXXXXXXX AT XXXXXXX TRAILS II,
INC.
X. XXXXXXXXX FAIR LAKES XXXX, INC.
X. XXXXXXXXX AT PEMBROKE SHORES,
INC.
X. XXXXXXXXX AT CAROLINA COUNTRY
CLUB III, INC.
GOVERNOR'S ABSTRACT CO., INC.
X. XXXXXXXXX AT COCONUT CREEK, INC.
X. XXXXXXXXX AT POLO TRACE, INC.
FOUNDERS TITLE AGENCY, INC.
X. XXXXXXXXX AT XXXXXXXX IV, INC.
X. XXXXXXXXX AT PERKIOMEN II, INC.
X. XXXXXXXXX AT XXXXX XX, INC.
X. XXXXXXXXX AT UPPER MAKEFIELD I,
INC.
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X. XXXXXXXXX COMPANIES OF
CALIFORNIA, INC.
X. XXXXXXXXX AT TERRAZA, INC.
X. XXXXXXXXX DEVELOPMENTS OF
CALIFORNIA, INC.
KHC ACQUISITION, INC.
X. XXXXXXXXX AT XXXXXX ROAD, INC.
X. XXXXXXXXX AT HIGHLAND VINEYARDS,
INC.
X. XXXXXXXXX AT BALLANTRAE, INC.
BALLANTRAE HOME SALES, INC.
X. XXXXXXXXX COMPANIES AT WILDROSE,
INC.
X. XXXXXXXXX AT GREENBROOK, INC.
X. XXXXXXXXX AT XXXXXX ESTATES,
INC.
X. XXXXXXXXX AT CARMEL DEL MAR,
INC.
X. XXXXXXXXX AT XXXX RANCH, INC.
X. XXXXXXXXX AT PRINCETON, INC.
X. XXXXXXXXX AT RARITAN I, INC.
X. XXXXXXXXX AT CALABRIA, INC.
X. XXXXXXXXX AT SENECA CROSSING,
INC.
X. XXXXXXXXX COMPANIES OF
MARYLAND, INC.
X. XXXXXXXXX DEVELOPMENTS OF
MARYLAND, INC.
X. XXXXXXXXX AT EXETER HILLS, INC.
X. XXXXXXXXX FLORIDA REGION, INC.
X. XXXXXXXXX SOUTHEAST FLORIDA,
INC.
X. XXXXXXXXX AT BERLIN, INC.
X. XXXXXXXXX AT EAST BRUNSWICK VI,
INC.
X. XXXXXXXXX AT BEDMINSTER II, INC.
X. XXXXXXXXX AT INVERRARY I, INC.
X. XXXXXXXXX AT MAHWAH IX, INC.
X. XXXXXXXXX AT NORTHLAKE, INC.
X. XXXXXXXXX AT HOPEWELL IV, INC.
X. XXXXXXXXX AT LOCUST GROVE I,
INC.
X. XXXXXXXXX AT CASTILE, INC.
X. XXXXXXXXX AT TIERRASANTA, INC.
X. XXXXXXXXX AT XXXXXXX, INC.
X. XXXXXXXXX AT XXXXXXXX III, INC.
X. XXXXXXXXX AT XXXXX VI, INC.
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X. XXXXXXXXX PROPERTIES OF NORTH
CENTER DRIVE, INC.
BALLANTRAE DEVELOPMENT CORP.
X. XXXXXXXXX AT LA TROVATA, INC.
X. XXXXXXXXX AT RANCHO
CRISTIANITOS, INC.
X. XXXXXXXXX AT TANNERY HILL, INC.
X. XXXXXXXXX PROPERTIES OF
X.X.XXXXXXX, INC.
X. XXXXXXXXX AT XXXXXXX SPRINGS,
INC.
X. XXXXXXXXX AT THE CEDARS, INC.
X. XXXXXXXXX CONSTRUCTION
MANAGEMENT, INC.
X. XXXXXXXXX ACQUISITIONS, INC.
X. XXXXXXXXX AT BURLINGTON II, INC.
X. XXXXXXXXX AT BURLINGTON III,
INC.
X. XXXXXXXXX AT BALLANTRAE ESTATES,
INC.
X. XXXXXXXXX AT SMITHVILLE, INC.
X. XXXXXXXXX AT XXXXXXXXX, INC.
X. XXXXXXXXX AT UPPER FREEHOLD
TOWNSHIP I, INC.
X. XXXXXXXXX AT XXXXXXX'X MILL,
INC.
X. XXXXXXXXX AT DOMINION RIDGE,
INC.
X. XXXXXXXXX AT PORT IMPERIAL
NORTH, INC.
X. XXXXXXXXX AT UNION TOWNSHIP I,
INC.
X. XXXXXXXXX AT EAST BRUNSWICK
VIII, INC.
X. XXXXXXXXX AT MANALAPAN II, INC.
X. XXXXXXXXX AT HOPEWELL V, INC.
X. XXXXXXXXX AT HOPEWELL VI, INC.
X. XXXXXXXXX AT XXXXXXX XXXXX, INC.
X. XXXXXXXXX AT XXXXXXXXX, INC.
X. XXXXXXXXX AT XXXXX VII, INC.
X. XXXXXXXXX SCOTCH PLAINS II, INC.
X. XXXXXXXXX AT MARLBORO TOWNSHIP
IV, INC.
X. XXXXXXXXX PORT IMPERIAL URBAN
RENEWAL, INC.
X. XXXXXXXXX AT EAST WHITELAND I,
INC.
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X. XXXXXXXXX AT STONEGATE, INC.
X. XXXXXXXXX AT CRESTLINE, INC.
X. XXXXXXXXX AT SAN SEVAINE, INC.
X. XXXXXXXXX AT SYCAMORE, INC.
X. XXXXXXXXX COMPANIES OF SOUTHERN
CALIFORNIA, INC.
X. XXXXXXXXX AT SMITHVILLE II, INC.
X. XXXXXXXXX AT STONY POINT, INC.
X. XXXXXXXXX AT XXXXX CANYON, INC.
X. XXXXXXXXX AT TUXEDO, INC.
X. XXXXXXXXX AT BRIDGEPORT, INC.
X. XXXXXXXXX AT SARATOGA, INC.
X. XXXXXXXXX AT CHAPARRAL, INC.
X. XXXXXXXXX AT OCEAN WALK, INC.
X. XXXXXXXXX AT LOWER SAUGON II,
INC.
X. XXXXXXXXX AT STONEGATE, INC.
X. XXXXXXXXX AT BARRINGTON, INC.
X. XXXXXXXXX AT XXXXXXX OAKS, INC.
X. XXXXXXXXX AT P.C. HOMES, INC.
X. XXXXXXXXX AT P.C. PROPERTIES,
INC.
X. XXXXXXXXX AT SUMMERWOOD, INC.
X. XXXXXXXXX AT THE XXXX
X. XXXXXXXXX'X FOUR SEASONS OF THE
PALM BEACHES, INC.
X. XXXXXXXXX AT WALL TOWNSHIP VIII,
INC.
X. XXXXXXXXX AT NORTH JERSEY ACQUI-
SITION, L.L.C.
K. HOVNANIAN CENTRAL ACQUISITION,
L.L.C.
K. HOVNANIAN SHORE ACQUISITION,
L.L.C.
K. HOVNANIAN SOUTH JERSEY
ACQUISITION, L.L.C.
K. HOVNANIAN AT XXXXXXXXX I, L.L.C.
K. HOVNANIAN AT MANSFIELD II,
L.L.C.
K. HOVNANIAN NORTH CENTRAL
ACQUISITION, L.L.C.
K. HOVNANIAN AT XXXXX XXXX, L.L.C.
K. HOVNANIAN AT XXXXXXXX X, L.L.C.
K. HOVNANIAN AT WANAQUE, L.L.C.
K. HOVNANIAN AT XXXXXXX X, L.L.C.
K. HOVNANIAN AT WINCHESTER, L.L.C.
K. HOVNANIAN AT MIDDLETOWN, L.L.C.
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X. XXXXXXXXX'X FOUR SEASONS, L.L.C.
K. HOVNANIAN AT MENIFEE, L.L.C.
K. HOVNANIAN AT NORTH BRUNSWICK VI,
L.L.C.
K. HOVNANIAN AT CARMEL VILLAGE,
L.L.C.
K. HOVNANIAN AT XXXXXXXX, L.L.C.
K. HOVNANIAN AT BLUE HERON PINES,
L.L.C.
K. HOVNANIAN AT XXXXXXX, L.L.C.
K. HOVNANIAN AT XXXXXX HEIGHTS,
L.L.C.
K. HOVNANIAN AT XXXXXXXX, L.L.C.
K. HOVNANIAN AT KING FARM, L.L.C.
K. HOVNANIAN AT SOUTH BANK, L.L.C.
K. HOVNANIAN AT PRINCE XXXXXXX,
L.L.C.
K. HOVNANIAN AT LAKE TERRAPIN,
L.L.C.
By: /s/ X. Xxxxx Xxxxxx
__________________________
Title: Treasurer and Chief Financial
Officer
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