FORM OF PERFECTION CERTIFICATE. The undersigned is a duly authorized officer of each of the entities listed on Schedule 1 hereto (each such entity, a “Grantor”). With reference to (i) the First-Lien Security Agreement dated as of October 2, 2012 (the “First-Lien Security Agreement”) among ▇. ▇▇▇▇▇▇▇▇▇ Enterprises, Inc. (the “Issuer”), the Guarantors party thereto and Wilmington Trust, National Association, as collateral agent (the “Collateral Agent”) and (ii) the Second-Lien Security Agreement dated as of October 2, 2012 (the “Second-Lien Security Agreement”; and, together with the First-Lien Security Agreement, the “Security Agreements”) among the Issuer, the Guarantors party thereto and the Collateral Agent (terms defined in the Security Agreements being used herein as therein defined), each of the undersigned certifies to the Collateral Agent and each other Secured Party as follows:
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Sources: Second Lien Security Agreement (Hovnanian Enterprises Inc), Security Agreement (Hovnanian Enterprises Inc)