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Registration No. 333-
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SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
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FORM T-1
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STATEMENT OF ELIGIBILITY UNDER THE
TRUST INDENTURE ACT OF 1939 OF A CORPORATION
DESIGNATED TO ACT AS TRUSTEE
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE
PURSUANT TO SECTION 305(b)(2)
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SUNTRUST BANK
(Exact name of trustee as specified in its charter)
000 XXXXXXXXX XXXXXX, X.X.
30TH FLOOR
ATLANTA, GEORGIA 30308 00-0000000
(Address of principal (Zip Code) (I.R.S. employer identification number)
executive offices)
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XXXXXX XXXX
SUNTRUST BANK
00 XXXX XXXXX, X.X.
24TH FLOOR
ATLANTA, GEORGIA 30303-2900
000-000-0000
(Name, address and telephone number of agent for service)
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KB HOME
(Exact name of registrant as specified in its charter)
DELAWARE 00-0000000
(State or other jurisdiction (IRS employer identification no.)
of incorporation or organization)
00000 XXXXXXXX XXXXXXXXX
XXX XXXXXXX, XXXXXXXXXX 00000
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
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SENIOR DEBT SECURITIES
AND
GUARANTEES OF SENIOR DEBT SECURITIES
(Title of the indenture securities)
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1. General information.
Furnish the following information as to the trustee--
Name and address of each examining or supervising authority to which
it is subject.
DEPARTMENT OF BANKING AND FINANCE,
STATE OF GEORGIA
0000 XXXXXXXXXX XXXX, XXXXX 000
XXXXXXX, XXXXXXX 00000-5565
FEDERAL RESERVE BANK OF ATLANTA
0000 XXXXXXXXX XXXXXX, X.X.
ATLANTA, GEORGIA 30309-4470
FEDERAL DEPOSIT INSURANCE CORPORATION
000 00XX XXXXXX, X.X.
WASHINGTON, D.C. 20429-9990
Whether it is authorized to exercise corporate trust powers.
YES.
2. Affiliations with obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
NONE.
3-12. NO RESPONSES ARE INCLUDED FOR ITEMS 3 THROUGH AND INCLUDING 12. RESPONSES
TO THOSE ITEMS ARE NOT REQUIRED BECAUSE, AS PROVIDED IN GENERAL
INSTRUCTION B AND AS SET FORTH IN ITEM 13(B) BELOW, THE OBLIGOR IS NOT IN
DEFAULT WITH RESPECT TO ANY SECURITIES ISSUED PURSUANT TO ANY INDENTURE
UNDER WHICH SUNTRUST BANK IS TRUSTEE.
13. Defaults by the Obligor.
(a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such
default.
THERE IS NOT AND HAS NOT BEEN ANY DEFAULT UNDER THIS INDENTURE
(b) If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in
any other securities, of the obligor are outstanding, or is a
trustee for more than one outstanding series of securities under the
indenture, state whether there has been a default under any such
indenture or series, identify the indenture or series affected, and
explain the nature of any such default.
THERE HAS NOT BEEN ANY SUCH DEFAULT.
00-00.XX RESPONSES ARE INCLUDED FOR ITEMS 14 AND 15. RESPONSES TO THOSE ITEMS
ARE NOT REQUIRED BECAUSE, AS PROVIDED IN GENERAL INSTRUCTION B AND AS SET
FORTH IN ITEM 13(B) ABOVE, THE OBLIGOR IS NOT IN DEFAULT WITH RESPECT TO
ANY SECURITIES ISSUED PURSUANT TO ANY INDENTURE UNDER WHICH SUNTRUST BANK
IS TRUSTEE.
16. List of Exhibits.
List below all exhibits filed as a part of this statement of eligibility;
exhibits identified in parentheses are filed with the Commission and are
incorporated herein by reference as exhibits hereto pursuant to Rule 7a-29
under the Trust Indenture Act of 1939, as amended, and Rule 24 of the
Commission's Rules of Practice.
(1) A copy of the Articles of Amendment and Restated Articles of
Incorporation of the trustee as now in effect (Exhibit 1 to Form
T-1, Registration No. 333-104621 filed by AMVESCAP PLC).
(2) A copy of the certificate of authority of the trustee to commence
business (Exhibit 2 to Form T-1, Registration No. 333-32106 filed by
Sabre Holdings Corporation).
(3) A copy of the authorization of the trustee to exercise corporate
trust powers (Exhibits 2 and 3 to Form T-1, Registration No.
333-32106 filed by Sabre Holdings Corporation).
(4) A copy of the existing by-laws of the trustee (as amended and
restated August 13, 2002) (Exhibit 4 to Form T-1, Registration No.
333-104621 filed by AMVESCAP PLC).
(5) Not applicable.
(6) The consent of the trustee required by Section 321(b) of the Trust
Indenture Act of 1939.
(7) A copy of the latest report of condition of the trustee published
pursuant to law or the requirements of its supervising or examining
authority as of the close of business on June 30, 2004.
(8) Not applicable.
(9) Not applicable.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the
trustee, SunTrust Bank, a banking corporation organized and existing under the
laws of the State of Georgia, has duly caused this statement of eligibility and
qualification to be signed on its behalf by the undersigned, thereunto duly
authorized, all in the City of Atlanta and the State of Georgia, on the 12th day
of November, 2004.
SUNTRUST BANK
By: /s/ Xxxxxx Xxxx
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Xxxxxx Xxxx
Trust Officer
EXHIBIT 6 TO FORM T-1
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939 in connection with the proposed issuance of Debt Securities of KB Home,
SunTrust Bank hereby consents that reports of examinations by Federal, State,
Territorial or District Authorities may be furnished by such authorities to the
Securities and Exchange Commission upon request therefor.
SUNTRUST BANK
By: /s/ Xxxxxx Xxxx
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Xxxxxx Xxxx
Trust Officer
EXHIBIT 7 TO FORM T-1
REPORT OF CONDITION
(ATTACHED)
SUNTRUST BANK FFIEC 031
Legal Title of Bank RC-1
12
ATLANTA
City
GA 30302
State Zip Code
FDIC Certificate Number - 00867
Transmitted to Intercept as 0055137 on 7/29/04
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR JUNE 30, 2004
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC--BALANCE SHEET
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A):
a. Noninterest-bearing balances and currency and coin (1)............................... 0081 4,194,416 1.a
b. Interest-bearing balances (2) ....................................................... 0071 21,915 1.b
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A)........................... 1754 0 2.a
b. Available-for-sale securities (from Schedule RC-B, column D)......................... 1773 23,009,751 2.b
3. Federal funds sold and securities purchased under agreements to resell: RCON
a. Federal funds sold in domestic offices .............................................. B987 357,925 3.a
RCFD
b. Securities purchased under agreements to resell (3) B989 3,578,775 3.b
4. Loans and lease financing receivables (from Schedule RC-C):
a. Loans and leases held for sale ...................................................... 5369 5,030,617 4.a
b. Loans and leases, net of unearned income..............................B528 82,439,174 4.b
c. LESS: Allowance for loan and lease losses.............................3123 938,733 4.c
d. Loans and leases, net of unearned income and allowance
(item 4.b minus 4.c)................................................................. B529 81,500,441 4.d
5. Trading assets (from Schedule RC-D) .................................................... 3545 1,198,917 5
6. Premises and fixed assets (including capitalized leases)................................ 2145 1,375,533 6
7. Other real estate owned (from Schedule RC-M) ........................................... 2150 20,827 7
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)................................................................ 2130 0 8
9. Customers' liability to this bank on acceptances outstanding 2155 25,849 9
10.Intangible assets:
a. Goodwill ............................................................................ 3163 886,405 10.a
b. Other intangible assets (from Schedule RC-M)......................................... 0426 613,708 10.b
11. Other assets (from Schedule RC-F)...................................................... 2160 4,065,518 11
12. Total assets (sum of items 1 through 11) .............................................. 2170 125,880,597 12
(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
(3) Includes all securities resale agreements in domestic and foreign offices,
regardless of maturity.
SUNTRUST BANK FFIEC 031
Legal Title of Bank RC-2
13
FDIC Certificate Number - 00867
Transmitted to Intercept as 0055137 on 7/29/04
SCHEDULE RC--CONTINUED
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
LIABILITIES
13.Deposits:
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E RCON
part I)............................................................................ 2200 78,171,321 13.a
(1) Noninterest-bearing (1) .............................................6631 11,214,162 3.a.1
(2) Interest-bearing ....................................................6636 66,957,159 3.a.2
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs RCFN
(from Schedule RC-E, part II) ....................................................... 2200 7,633,771 13.b
(1) Noninterest-bearing .................................................6631 0 13.b.1
(2) Interest-bearing ....................................................6636 7,633,771 13.b.2
14.Federal funds purchased and securities sold under agreements to repurchase: RCON
a. Federal funds purchased in domestic offices (2) ..................................... B993 1,826,284 14.a
RCFD
b. Securities sold under agreements to repurchase (3) .................................. B995 8,933,552 14.b
00.Xxxxxxx liabilities (from Schedule RC-D) ............................................... 3548 1,043,323 15
16. Other borrowed money (includes mortgage indebtedness and obligations under
capitalized leases) (from Schedule RC-M) ............................................. 3190 12,892,704 16
17.Not applicable
00.Xxxx's liability on acceptances executed and outstanding ............................... 2920 25,849 18
19.Subordinated notes and debentures(4) ................................................... 3200 2,149,384 19
20.Other liabilities (from Schedule RC-G) ................................................. 2930 2,177,105 20
00.Xxxxx liabilities (sum of items 13 through 20) ......................................... 2948 114,853,293 21
22.Minority interest in consolidated subsidiaries ......................................... 3000 967,608 22
EQUITY CAPITAL
23.Perpetual preferred stock and related surplus .......................................... 3838 0 23
24.Common stock ........................................................................... 3230 21,600 24
25.Surplus (exclude all surplus related to preferred stock) ............................... 3839 3,245,229 25
26.a. Retained earnings ................................................................... 3632 6,060,212 26.a
b. Accumulated other comprehensive income (5) .......................................... B530 732,665 26.b
27.Other equity capital components (6) .................................................... A130 0 27
00.Xxxxx equity capital (sum of items 23 through 27) ...................................... 3210 10,059,696 28
00.Xxxxx liabilities, minority interest, and equity capital (sum of items 21, 22, and 28) . 3300 125,880,597 29
Memorandum
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
1. Indicate in the box at the right the number of the statement below that best
describes the most comprehensive level of auditing work performed for the bank by...... RCFD NUMBER
independent external auditors as of any date during 2003............................... 6724 N/A M. 1
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which submits
a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company (but
not on the bank separately)
3 = Attestation on bank management's assertion on the effectiveness of the
bank's internal control over financial reporting by a certified public
accounting firm
4 = Director's examination of the bank conducted in accordance with
generally accepted auditing standards by a certified public accounting firm (may
be required by state chartering authority)
5 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
6 = Review of the bank's financial statements by external auditors
7 = Compilation of the bank's financial statements by external auditors
8 = Other audit procedures (excluding tax preparation work)
9 = No external audit work
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) Report overnight Federal Home Loan Bank advances in Schedule RC, item 16,
"other borrowed money."
(3) Includes all securities repurchase agreements in domestic and foreign
offices, regardless of maturity.
(4) Includes limited-life preferred stock and related surplus.
(5) Includes net unrealized holding gains (losses) on available-for-sale
securities, accumulated net gains (losses) on cash flow xxxxxx, cumulative
foreign currency translation adjustments, and minimum pension liability
adjustments.
(6) Includes treasury stock and unearned Employee Stock Ownership Plan shares.
