AMENDMENT TO SECOND LIEN PLEDGE AGREEMENT

EXECUTION VERSION

THIS AMENDMENT, dated as of October 20, 2009 (the “Amendment”) to the Second Lien Pledge Agreement (as defined below) is entered into by and among ▇. ▇▇▇▇▇▇▇▇▇ ENTERPRISES, INC. (the “Company”), HOVNANIAN ENTERPRISES, INC. (“Hovnanian”), each of the entities listed on Schedule 1 hereto (each a “Pledgor”) and WILMINGTON TRUST COMPANY, as successor to Deutsche Bank National Trust Company (as “Collateral Agent”).

WHEREAS, the Company, Hovnanian, each other Pledgor and the Collateral Agent are parties to the Second Lien Pledge Agreement dated as of May 27, 2008 (the “Second Lien Pledge Agreement”);

WHEREAS, the Company, Hovnanian and each of the other Guarantors (as defined therein) are parties to the Indenture, dated as of May 27, 2008 (as amended, supplemented and restated or otherwise modified from time to time, the “Secured Note Indenture”) with Wilmington Trust Company, as successor to Deutsche Bank National Trust Company, as trustee, pursuant to which the Company issued its 11 1/2% Senior Secured Notes due 2013;

WHEREAS, the Company, Hovnanian, each other Grantor (as defined therein) and the Collateral Agent are parties to the Second Lien Security Agreement dated as of May 27, 2008;

WHEREAS, the Company, in connection with the replacement and refinancing of the Seventh Amended and Restated Credit Agreement, dated as of March 7, 2008, (as subsequently amended, the “Credit Agreement”), has issued 10 5/8% Senior Secured Notes due 2016 under the Indenture dated as of October 20, 2009 (as amended, supplemented, amended and restated or otherwise modified from time to time, the “First Lien Indenture”);

WHEREAS, in connection with the First Lien Indenture, the Company, Hovnanian, each of the Grantors (as defined therein) party thereto and Wilmington Trust Company, as Collateral Agent, have entered into the First Lien Pledge Agreement (the “First Lien Pledge Agreement”), dated as of October 20, 2009;

WHEREAS, in connection with the First Lien Indenture, the Company, Hovnanian, each of the Guarantors party thereto, Wilmington Trust Company, in its capacity as trustee under the First Lien Indenture, and the other parties thereto, have entered into the First Amendment, dated as of October 20, 2009, to the Intercreditor Agreement, dated as of May 27, 2008, and the First Amendment, dated as of October 20, 2009 to the Intercreditor Agreement, dated as of December 3, 2008, in each case, to, among other things, amend the definition of Credit Agreement to refer to the First Lien Indenture and amend the definition of First Lien Indebtedness, in each case as set forth therein;

WHEREAS, pursuant to Section 9.01(c) of the Secured Note Indenture, the Company, Hovnanian, each other Pledgor and the Collateral Agent may enter into amendments to the Security Documents (as defined in the Secured Note Indenture) without notice to or the consent of any holder of 11 1/2% Senior Secured Notes due 2013 to cure any ambiguity, defect or inconsistency in the Security Documents;

WHEREAS, all other acts and proceedings required by law, by the Secured Note Indenture and by the charter documents of the Company, Hovnanian and the other Pledgors to make this

Amendment a valid and binding agreement for the purposes expressed herein, in accordance with its terms, have been duly done and performed;

NOW THEREFORE, 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 Company, Hovnanian, each Pledgor and the Collateral Agent hereby agree as follows:

SECTION 1. Definitions.

Any capitalized term used (including those in the recitals), but not otherwise defined, herein shall have the meaning ascribed to it in the Second Lien Pledge Agreement.

SECTION 2. Modifications to the Second Lien Pledge Agreement.

(a) The following definitions are hereby added to Section 1 in the appropriate alphabetical location:

““Administrative Agent”: the “Collateral Agent” under the First Lien Pledge Agreement.”

““First Lien Pledge Agreement”: the First Lien Pledge Agreement entered into by the Issuer, Hovnanian, each of the Grantors party thereto and Wilmington Trust Company, as Collateral Agent, on October 20, 2009.”

(b) The definition of “Pledged Collateral” is hereby amended and restated in its entirety to read as follows:

““Pledged Collateral” shall mean and include the following with respect to each Company: (i) the capital stock, shares, securities, investment property, member interests, partnership interests, warrants, options, put rights, call rights, similar rights, and all other ownership or participation interests, in any Company and K. ▇▇▇▇▇▇▇▇▇ ▇▇ Holdings, L.L.C. owned or held by any Pledgor at any time including those in any Company hereafter formed or acquired, and (ii) all rights and privileges pertaining thereto, including without limitation, all present and future securities, shares, capital stock, investment property, dividends, distributions and other ownership interests receivable in respect of or in exchange for any of the foregoing, all present and future rights to subscribe for securities, shares, capital stock, investment property or other ownership interests incident to or arising from ownership of any of the foregoing, all present and future cash, interest, stock or other dividends or distributions paid or payable on any of the foregoing, and all present and future books and records (whether paper, electronic or any other medium) pertaining to any of the foregoing, including, without limitation, all stock record and transfer books and (iii) whatever is received when any of the foregoing is sold, exchanged, replaced or otherwise disposed of, including all proceeds, as such term is defined in the Code, thereof. Notwithstanding the foregoing, in the event that Rule 3-16 of Regulation S-X under the Securities Act requires (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the SEC of separate financial statements of any Guarantor or K. ▇▇▇▇▇▇▇▇▇ ▇▇ Holdings, L.L.C. that are not otherwise required to be filed, then the capital stock or other securities of such Guarantor or K. ▇▇▇▇▇▇▇▇▇ ▇▇ Holdings, L.L.C. shall automatically be deemed released and not to be and not to have been part of the Pledged Collateral but only to the extent necessary to not be subject to such requirement.

In such event, this Agreement may be amended or modified, without the consent of any Noteholder, to the extent necessary to evidence the release of the lien created hereby on the shares of capital stock or other securities that are so deemed to no longer constitute part of the Pledged Collateral.”

(c) Section 21 is hereby amended by inserting “and K. ▇▇▇▇▇▇▇▇▇ ▇▇ Holdings, L.L.C.” after “the Companies” and before “may be released”.

(d) The following Section 25 is hereby added in the appropriate location:

“25.

Secured Party Privileges, Powers and Immunities.

In the performance of its obligations hereunder, the Secured Party shall be entitled to the privileges, powers and immunities afforded to it as Collateral Agent under the Secured Note Indenture. The Secured Party (including while acting as Perfection Agent) shall be entitled to refuse to take or refrain from taking any discretionary action or exercise any discretionary powers set forth in this Agreement unless it has received direction of a majority of Noteholders with respect thereto. Notwithstanding anything to the contrary contained herein, the Secured Party shall have no responsibility for the creation, perfection, priority, sufficiency or protection of any liens securing Secured Obligations.”

(e) Any reference to “Loan Documents” in the Second Lien Pledge Agreement is hereby replaced with a reference to “Noteholder Documents”.

SECTION 3. Effectiveness.

This Amendment will become effective immediately upon its execution and delivery.

SECTION 4. Governing Law.

This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.

SECTION 5. Section Titles.

The section titles contained in this Amendment are and shall be without substantive meaning or content of any kind whatsoever and are not a part of this Agreement.

SECTION 6. Counterparts; Telecopy Signatures.

This Amendment may be signed in any number of counterparts each of which shall be an original, but all of which together shall constitute one and the same instrument; and, delivery of executed signature pages hereof by telecopy transmission, or other electronic transmission in pdf or similar format, from one party to another shall constitute effective and binding execution and delivery of this Amendment by such party.

SECTION 7. Authorization.

By its signature, each Person executing this Amendment on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Amendment.

[REMAINDER OF PAGE LEFT BLANK INTENTIONALLY]

IN WITNESS WHEREOF, each of the undersigned has caused this Amendment to be duly executed and delivered as of the date first above written.

▇. ▇▇▇▇▇▇▇▇▇ ENTERRISES, INC.

By: /s/▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Title: Senior Vice President

HOVNANIAN ENTERPRISES, INC.

By: /s/▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Title: Senior Vice President

On behalf of each of the entities listed on

Schedule 1 hereto

By: /s/▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇

Title: Senior Vice President

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WILMINGTON TRUST COMPANY, as

Collateral Agent

By: /s/▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇

Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇

Title: Vice President

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SCHEDULE 1

Auddie Enterprises, L.L.C.

Builder Services NJ, L.L.C.

Builder Services NY, L.L.C.

Builder Services PA, L.L.C.

Dulles Coppermine, L.L.C.

EASTERN TITLE AGENCY, INC.

F&W MECHANICAL SERVICES, L.L.C.

Founders Title Agency of Maryland, L.L.C.

FOUNDERS TITLE AGENCY, INC.

Governor's Abstract Co., Inc.

Homebuyers Financial Services, L.L.C.

HOVNANIAN DEVELOPMENTS OF FLORIDA, INC.

Hovnanian Enterprises, Inc. (PARENT COMPANY)

Hovnanian Land Investment Group of California, L.L.C.

HOVNANIAN LAND INVESTMENT GROUP OF FLORIDA, L.L.C.

Hovnanian Land Investment Group of Georgia, L.L.C.

Hovnanian Land Investment Group of Maryland, L.L.C.

Hovnanian Land Investment Group of New Jersey, L.L.C.

Hovnanian Land Investment Group of North Carolina, L.L.C.

Hovnanian Land Investment Group of Pennsylvania, L.L.C.

Hovnanian Land Investment Group of Texas LLC

Hovnanian Land Investment Group of Virginia, L.L.C.

Hovnanian Land Investment Group, L.L.C.

K. H. San Marcos Conservancy Holdings, L.L.C.

K. HOV INTERNATIONAL, INC.

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K. HOV IP, II, Inc.

K. HOV IP, INC.

▇. ▇▇▇▇▇▇▇▇▇ Acquisitions, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at 4S, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Acqua Vista, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Aliso, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Allenberry, L.L.C.

K. Hovnanian at Allentown, L.L.C.

K. Hovnanian at Almond Estates, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Arbor Heights, LLC

▇. ▇▇▇▇▇▇▇▇▇ AT AVENUE ONE, L.L.C.

K. Hovnanian at Bakersfield 463, L.L.C.

K. Hovnanian at Barnegat I, L.L.C.

K. Hovnanian at Barnegat II, L.L.C.

K. Hovnanian at Bella Lago, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Berkeley, L.L.C.

K. Hovnanian at Bernards IV, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇ V, L.L.C.

K. Hovnanian at Blue Heron Pines, L.L.C.

K. Hovnanian at Bridgeport, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Bridgewater I, L.L.C.

K. Hovnanian at Bridgewater VI, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Broad and Walnut, L.L.C.

K. Hovnanian at Calabria, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Camden I, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇ ▇▇▇▇▇, Inc.

▇. ▇▇▇▇▇▇▇▇▇ AT CAMP HILL, L.L.C.

K. HOVNANIAN AT CAPISTRANO, L.L.C.

K. Hovnanian at Carmel Del Mar, Inc.

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▇. ▇▇▇▇▇▇▇▇▇ at Carmel Village, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Castile, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Cedar Grove III, L.L.C.

K. Hovnanian at Cedar Grove IV, L.L.C.

K. Hovnanian at Chaparral, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Charter Way, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇ I, L.L.C.

K. Hovnanian at Chesterfield, L.L.C.

K. Hovnanian at Cielo, L.L.C.

K. HOVNANIAN AT CLARKSTOWN, INC.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇, L.L.C.

K. Hovnanian at Coastline, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇ ▇▇▇▇, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Cranbury, L.L.C.

K. Hovnanian at Crestline, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Curries ▇▇▇▇▇, L.L.C.

K. Hovnanian at Denville, L.L.C.

K. Hovnanian at Deptford Township, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇▇▇ Hills, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Dover, L.L.C.

K. Hovnanian at East Brandywine, L.L.C.

K. Hovnanian At East Whiteland I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Eastlake, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Edgewater II, L.L.C.

K. Hovnanian at Edgewater, L.L.C.

K. Hovnanian at Egg Harbor Township II, L.L.C.

K. Hovnanian at Egg Harbor Township, L.L.C.

K. Hovnanian at El Dorado Ranch II, L.L.C.

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▇. ▇▇▇▇▇▇▇▇▇ at El Dorado Ranch, L.L.C.

K. Hovnanian at Elk Township, L.L.C.

K. Hovnanian at Encinitas Ranch, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Evergreen, L.L.C.

K. Hovnanian at ▇▇▇▇▇, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇▇▇ Ranch, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Fifth Avenue, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇▇ I, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇▇ ▇▇, L.L.C.

K. Hovnanian at Forest ▇▇▇▇▇▇▇, L.L.C.

K. HOVNANIAN AT FORKS TWP. I, L.L.C.

K. Hovnanian at Franklin, L.L.C.

K. Hovnanian at Freehold Township I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Freehold Township, L.L.C.

K. Hovnanian at Fresno, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇, L.L.C.

K. HOVNANIAN AT GASLAMP SQUARE, L.L.C.

K. Hovnanian at Great Notch, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇▇▇, L.L.C.

K. Hovnanian at Hackettstown II, L.L.C.

K. Hovnanian at Hackettstown, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Hamburg Contractors, L.L.C.

K. Hovnanian at Hamburg, L.L.C.

K. Hovnanian at Hawthorne, L.L.C.

K. Hovnanian at Hazlet, L.L.C.

K. Hovnanian at Hershey's Mill, Inc.

▇. ▇▇▇▇▇▇▇▇▇ AT HIGHLAND SHORES, L.L.C.

K. Hovnanian at Highland Vineyards, Inc.

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▇. ▇▇▇▇▇▇▇▇▇ at Hilltop, L.L.C.

K. HOVNANIAN AT ▇▇▇▇▇▇ POINTE, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇ I, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇ Ranch, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Jersey City IV, L.L.C.

K. Hovnanian at Jersey City V Urban Renewal Company, L.L.C.

K. Hovnanian at Keyport, L.L.C.

K. Hovnanian at King Farm, L.L.C.

K. Hovnanian at La Costa Greens, L.L.C.

K. Hovnanian at La Costa, LLC

▇. ▇▇▇▇▇▇▇▇▇ at La Habra Knolls, LLC

▇. ▇▇▇▇▇▇▇▇▇ at La Laguna, L.L.C.

K. Hovnanian at La Terraza, Inc.

▇. ▇▇▇▇▇▇▇▇▇ At Lafayette Estates, L.L.C.

K. Hovnanian at Lake Rancho Viejo, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Lake Ridge Crossing, L.L.C.

K. Hovnanian at Lake Terrapin, L.L.C.

K. Hovnanian at Lakewood, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Landmark, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Larkspur, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇ V, L.L.C.

K. Hovnanian at ▇▇▇ Square, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇, L.L.C.

K. Hovnanian at Little Egg Harbor Contractors, L.L.C.

K. Hovnanian at Little Egg Harbor III, L.L.C.

K. Hovnanian at Little Egg Harbor Township II, L.L.C.

K. Hovnanian at Little Egg Harbor, L.L.C

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▇. ▇▇▇▇▇▇▇▇▇ at Live Oak II, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Long Branch I, L.L.C.

K. Hovnanian at Lower Macungie Township I, L.L.C.

K. Hovnanian at Lower Macungie Township II, L.L.C.

K. Hovnanian at Lower Makefield Township I, L.L.C.

K. Hovnanian at Lower ▇▇▇▇▇▇▇▇ I, L.L.C.

K. Hovnanian at Lower Moreland II, L.L.C.

K. Hovnanian at Lower ▇▇▇▇▇▇▇▇ III, L.L.C.

K. Hovnanian at Macungie, L.L.C.

K. Hovnanian at Mahwah VI, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇ Park, L.L.C.

K. Hovnanian at Manalapan III, L.L.C.

K. Hovnanian at Manalapan, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Mansfield I, L.L.C.

K. Hovnanian at Mansfield II, L.L.C.

K. Hovnanian at Mansfield III, L.L.C.

K. Hovnanian at Maple Avenue, L.L.C.

K. Hovnanian at Marlboro Township III, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Marlboro Township IV, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Marlboro Township IX, L.L.C.

K. Hovnanian at Marlboro Township V, L.L.C.

K. Hovnanian at Marlboro Township VIII, L.L.C.

K. Hovnanian at Marlboro VI, L.L.C.

K. Hovnanian at Marlboro VII, L.L.C.

K. Hovnanian at Matsu, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Mendham Township, L.L.C.

K. Hovnanian at Menifee, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Middle Township II, L.L.C.

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▇. ▇▇▇▇▇▇▇▇▇ at Middle Township, L.L.C.

K. Hovnanian at Middletown II, L.L.C.

K. Hovnanian at Millville I, L.L.C.

K. Hovnanian at Millville II, L.L.C.

K. HOVNANIAN AT ▇▇▇▇▇▇ ▇▇, INC.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇ III, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇ ▇▇, L.L.C.

K. Hovnanian at Monroe NJ, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇▇▇▇ I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Montvale, L.L.C.

K. Hovnanian at Mosaic, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Mt. Olive Township, L.L.C.

K. Hovnanian at Muirfield, LLC

▇. ▇▇▇▇▇▇▇▇▇ AT NEW BRUNSWICK URBAN RENEWAL, L.L.C.

K. Hovnanian at New Windsor, L.L.C.

K. Hovnanian at North Bergen. L.L.C.

K. HOVNANIAN AT NORTH BRUNSWICK VI, L.L.C.

K. Hovnanian at North ▇▇▇▇▇▇▇▇ II, L.L.C.

K. Hovnanian at North ▇▇▇▇▇▇▇▇ III, L.L.C.

K. Hovnanian at North ▇▇▇▇▇▇▇▇, L.L.C.

K. Hovnanian at North Haledon, L.L.C.

K. Hovnanian at North Wildwood, L.L.C.

K. Hovnanian at Northampton. L.L.C.

K. HOVNANIAN AT NORTHERN WESTCHESTER, INC.

▇. ▇▇▇▇▇▇▇▇▇ at Northfield, L.L.C.

K. Hovnanian at Northlake, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Ocean Township, Inc

▇. ▇▇▇▇▇▇▇▇▇ AT OCEAN WALK, INC.

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▇. ▇▇▇▇▇▇▇▇▇ at Oceanport, L.L.C.

K. Hovnanian at Old Bridge, L.L.C.

K. Hovnanian at Olde Orchard, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Pacific Bluffs, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Paramus, L.L.C.

K. Hovnanian at Park Lane, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Parkside, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Parsippany-▇▇▇▇ Hills, L.L.C.

K. Hovnanian at Perkiomen I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Perkiomen II, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Philadelphia II, L.L.C.

K. Hovnanian at Philadelphia III, L.L.C.

K. Hovnanian at Philadelphia IV, L.L.C.

K. Hovnanian at Piazza D'Oro, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇ ▇▇▇▇▇▇, L.L.C

▇. ▇▇▇▇▇▇▇▇▇ at Pittsgrove, L.L.C.

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL IV, L.L.C.

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL V, L.L.C.

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VI, L.L.C.

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VII, L.L.C.

K. HOVNANIAN AT PORT IMPERIAL URBAN RENEWAL VIII, L.L.C.

K. Hovnanian at ▇▇▇▇▇, L.L.C.

K. Hovnanian at Rancho Cristianitos, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Rancho Santa ▇▇▇▇▇▇▇▇▇, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇ I, L.L.C.

K. HOVNANIAN AT RAPHO, L.L.C

▇. ▇▇▇▇▇▇▇▇▇ at Readington II, L.L.C.

K. Hovnanian at Red Bank, L.L.C.

K. Hovnanian at Reservoir Ridge, Inc.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ at Ridgemont, L.L.C.

K. Hovnanian at Ridgestone, L.L.C.

K. Hovnanian at Riverbend, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Rivercrest, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Roderuck, L.L.C.

K. HOVNANIAN AT ▇▇▇▇▇▇▇▇ LANTANA, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇▇ Heights, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Sage, L.L.C.

K. Hovnanian at San Sevaine, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Santa Nella, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Saratoga, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Sawmill, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Sayreville, L.L.C.

K. HOVNANIAN AT SCOTCH PLAINS II, INC.

▇. ▇▇▇▇▇▇▇▇▇ at Scotch Plains, L.L.C.

K. Hovnanian at Sierra Estates, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Silver Spring, L.L.C.

K. Hovnanian at Skye Isle, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Smithville III, L.L.C.

K. Hovnanian at Smithville, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇ Point, L.L.C.

K. Hovnanian at South Brunswick, L.L.C.

K. Hovnanian at Sparta, L.L.C.

K. HOVNANIAN AT SPRINGCO, L.L.C.

K. Hovnanian at Stone Canyon, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Sunsets, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Sycamore, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Tannery Hill, Inc.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ at Teaneck, L.L.C.

K. Hovnanian at The Bluff, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at The ▇▇▇▇▇▇, LLC

▇. ▇▇▇▇▇▇▇▇▇ at The Gables, LLC

▇. ▇▇▇▇▇▇▇▇▇ at The Monarch, L.L.C.

K. Hovnanian at The Preserve, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇▇ Ranch, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Thornbury, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Tierrasanta, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Trail Ridge, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Trenton, L.L.C.

K. Hovnanian at Trovata, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Union Township I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Upper Freehold Township I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Upper Freehold Township II, L.L.C.

K. Hovnanian at Upper Freehold Township III, L.L.C.

K. Hovnanian at Upper Makefield I, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Upper Uwchlan II, L.L.C.

K. Hovnanian at Upper Uwchlan, L.L.C.

K. Hovnanian at Vail Ranch, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇ Del Sol, LLC

▇. ▇▇▇▇▇▇▇▇▇ AT VERONA URBAN RENEWAL, L.L.C.

K. Hovnanian at Victorville, L.L.C.

K. HOVNANIAN AT VINELAND, L.L.C.

K. Hovnanian at Vista Del Sol, L.L.C.

K. Hovnanian at Wall Township VI, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Wall Township VIII, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Wanaque, L.L.C.

K. Hovnanian at ▇▇▇▇▇▇ Township, L.L.C.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ at Washington, L.L.C.

K. HOVNANIAN AT WASHINGTONVILLE, INC.

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇ IX, L.L.C.

K. Hovnanian at ▇▇▇▇▇ V, Inc.

▇. ▇▇▇▇▇▇▇▇▇ AT ▇▇▇▇▇, VIII, L.L.C.

K. Hovnanian at West Bradford, L.L.C.

K. Hovnanian at West View Estates, L.L.C.

K. Hovnanian at West Windsor, L.L.C.

K. Hovnanian at Westshore, LLC

▇. ▇▇▇▇▇▇▇▇▇ at ▇▇▇▇▇▇▇ Ranch, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Wildrose, Inc.

▇. ▇▇▇▇▇▇▇▇▇ at Wildwood Bayside, L.L.C.

K. Hovnanian at Willow Brook, L.L.C.

K. HOVNANIAN AT WINCHESTER, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Woodcreek West, LLC

▇. ▇▇▇▇▇▇▇▇▇ at Woodhill Estates, L.L.C.

K. Hovnanian at Woolwich I, L.L.C.

K. Hovnanian Cambridge Homes, L.L.C.

K. HOVNANIAN CENTRAL ACQUISITIONS, L.L.C.

K. Hovnanian Classics CIP, L.L.C.

K. Hovnanian Classics, L.L.C.

K. Hovnanian Communities, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Companies Metro D.C. North, L.L.C.

K. Hovnanian Companies Northeast, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Companies of California, Inc.

▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF MARYLAND, INC.

▇. ▇▇▇▇▇▇▇▇▇ COMPANIES OF NEW YORK, INC.

▇. ▇▇▇▇▇▇▇▇▇ Companies of Pennsylvania, Inc.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ Companies of Southern California, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Companies of Virginia, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Companies, LLC

▇. ▇▇▇▇▇▇▇▇▇ Connecticut Acquisitions, L.L.C.

K. Hovnanian Construction II, Inc

▇. ▇▇▇▇▇▇▇▇▇ Construction III, Inc

▇. ▇▇▇▇▇▇▇▇▇ Construction Management, Inc.

▇. ▇▇▇▇▇▇▇▇▇ CraftBuilt Homes of South Carolina, L.L.C.

K. Hovnanian Delaware Acquisitions, L.L.C.

K. HOVNANIAN DEVELOPMENTS OF ARIZONA, INC.

▇. ▇▇▇▇▇▇▇▇▇ Developments of California, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Connecticut, Inc.

▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF D.C., INC.

▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF DELAWARE, INC.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Georgia, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Illinois, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Indiana, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Kentucky, Inc.

▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF MARYLAND, INC.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Michigan, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Minnesota, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of New Jersey II, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of New Jersey, Inc.

▇. ▇▇▇▇▇▇▇▇▇ DEVELOPMENTS OF NEW YORK, INC.

▇. ▇▇▇▇▇▇▇▇▇ Developments of North Carolina, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Ohio, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Pennsylvania, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of South Carolina, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of Texas, Inc.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ Developments of Virginia, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Developments of West Virginia, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Eastern Pennsylvania, L.L.C.

K. Hovnanian Enterprises, Inc.

▇. ▇▇▇▇▇▇▇▇▇ FIRST HOMES, L.L.C.

K. Hovnanian Florida Realty, L.L.C.

K. Hovnanian Four Seasons @ Historic Virginia, LLC

▇. ▇▇▇▇▇▇▇▇▇ Four Seasons at Gold Hill, LLC

▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN BUILDING COMPANY, LLC

▇. ▇▇▇▇▇▇▇▇▇ GREAT WESTERN HOMES, LLC

▇. ▇▇▇▇▇▇▇▇▇ Holdings NJ, L.L.C.

K. Hovnanian Homes - DFW, L.L.C.

K. Hovnanian Homes at Cameron Station, LLC

▇. ▇▇▇▇▇▇▇▇▇ Homes at Camp Springs, L.L.C.

K. Hovnanian Homes at Fairwood, L.L.C.

K. Hovnanian Homes at Forest Run, L.L.C.

K. Hovnanian Homes at Greenway Farm Park Towns, L.L.C.

K. Hovnanian Homes at Greenway Farm, L.L.C.

K. Hovnanian Homes at ▇▇▇▇▇ Station 1, L.L.C.

K. Hovnanian Homes at ▇▇▇▇▇ Station 2, L.L.C.

K. Hovnanian Homes at ▇▇▇▇▇▇▇ Place, L.L.C.

K. HOVNANIAN HOMES AT ▇▇▇▇▇ STREET, L.L.C.

K. Hovnanian Homes at Primera, L.L.C.

K. Hovnanian Homes at Renaissance Plaza, L.L.C.

K. Hovnanian Homes at ▇▇▇▇▇▇▇, L.L.C.

K. HOVNANIAN HOMES NORTHERN CALIFORNIA, INC.

▇. ▇▇▇▇▇▇▇▇▇ Homes of D.C., L.L.C.

K. HOVNANIAN HOMES OF DELAWARE, L.L.C.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ Homes of Georgia, L.L.C.

K. Hovnanian Homes of Houston, L.L.C.

K. Hovnanian Homes of Indiana, L.L.C.

K. Hovnanian Homes of Maryland, L.L.C.

K. Hovnanian Homes of Minnesota, L.L.C.

K. HOVNANIAN HOMES OF NORTH CAROLINA, INC.

▇. ▇▇▇▇▇▇▇▇▇ HOMES OF PENNSYLVANIA, L.L.C.

K. Hovnanian Homes of South Carolina, LLC

▇. ▇▇▇▇▇▇▇▇▇ Homes of Virginia, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Homes of West Virginia, L.L.C.

K. Hovnanian North Central Acquisitions, L.L.C.

K. Hovnanian North Jersey Acquisitions, L.L.C.

K. Hovnanian Northeast Services, L.L.C.

K. Hovnanian of Houston II, L.L.C.

K. Hovnanian Ohio Realty, L.L.C.

K. HOVNANIAN OSTER HOMES, L.L.C.

K. Hovnanian PA Real Estate, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Pennsylvania Acquisitions, L.L.C.

K. HOVNANIAN POLAND, SP .▇.▇.▇.

▇. Hovnanian Port Imperial Urban Renewal, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Properties of Red Bank, Inc.

▇. ▇▇▇▇▇▇▇▇▇ Shore Acquisitions, L.L.C.

K. Hovnanian South Jersey Acquisitions, L.L.C.

K. Hovnanian Southern New Jersey, L.L.C.

K. HOVNANIAN STANDING ENTITY, L.L.C.

K. Hovnanian Summit Holdings, L.L.C.

K. Hovnanian Summit Homes of Kentucky, L.L.C.

K. Hovnanian Summit Homes of Michigan, L.L.C.

K. Hovnanian Summit Homes of Pennsylvania, L.L.C.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇ Summit Homes of West Virginia, L.L.C.

K. Hovnanian Summit Homes, L.L.C.

K. Hovnanian T&C Homes at Florida, L.L.C.

K. Hovnanian T&C Homes at Illinois, L.L.C.

K. Hovnanian T&C Homes at Minnesota, L.L.C.

K. HOVNANIAN T&C INVESTMENT, L.L.C.

K. Hovnanian T&C Management Co., L.L.C.

K. Hovnanian Venture I, L.L.C.

K. HOVNANIAN WINDWARD HOMES, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ Four Seasons at Ashburn Village, L.L.C.

K. Hovnanian's Four Seasons at ▇▇▇▇▇▇'▇ ▇▇▇▇▇, L.L.C.

K. HOVNANIAN'S FOUR SEASONS AT BAKERSFIELD, L.L.C.

K. Hovnanian's Four Seasons at Beaumont, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ FOUR SEASONS AT CHARLOTTESVILLE, L.L.C.

K. Hovnanian's Four Seasons at Dulles Discovery Condominium, L.L.C.

K. Hovnanian's Four Seasons at Dulles Discovery, L.L.C.

K. Hovnanian's Four Seasons at Hamptonburgh, L.L.C.

K. Hovnanian's Four Seasons at Hemet, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ Four Seasons at Huntfield,L.L.C.

K. Hovnanian's Four Seasons at Kent Island Condominiums, L.L.C.

K. Hovnanian's Four Seasons at Kent Island, L.L.C.

K. Hovnanian's Four Seasons at Los Banos, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ Four Seasons at ▇▇▇▇▇▇ Valley, L.L.C.

K. Hovnanian's Four Seasons at New Kent Vineyards, L.L.C.

K. Hovnanian's Four Seasons at Palm Springs, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ FOUR SEASONS AT RENAISSANCE, L.L.C.

K. Hovnanian's Four Seasons at Rush Creek, L.L.C.

K. Hovnanian's Four Seasons at St. Margarets Landing, L.L.C.

045050-0077-13401-Active.11845746

▇. ▇▇▇▇▇▇▇▇▇'▇ Four Seasons at Vint Hill, L.L.C.

K. Hovnanian's Four Seasons at Westshore, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ Four Seasons, LLC

▇. ▇▇▇▇▇▇▇▇▇'▇ Parkside at Towngate, L.L.C.

K. Hovnanian's Private Home Portfolio, L.L.C.

KHIP, L.L.C.

LANDARAMA, INC.

M & M at Long Branch, Inc

M&M at Chesterfield, LLC

M&M AT Copper Beech, L.L.C.

M&M AT Crescent Court, L.L.C.

M&M at East ▇▇▇▇▇▇▇▇▇▇, L.L.C.

M&M AT MORRISTOWN, L.L.C.

M&M AT SPINNAKER POINTE, L.L.C.

M&M AT SPRUCE HOLLOW, L.L.C.

M&M AT SPRUCE RUN, L.L.C.

M&M at Station Square, L.L.C.

M&M at Tamarack Hollow, L.L.C.

M&M AT UNION, L.L.C.

M&M at West Orange, L.L.C.

M&M at Wheatena Urban Renewal, L.L.C.

M&M INVESTMENTS, ▇.▇.

▇▇▇▇▇▇ & Mumford at Egg Harbor, L.L.C.

MATZEL & MUMFORD AT ▇▇▇▇▇▇▇▇▇▇, L.L.C.

Matzel & Mumford at South Bound Brook Urban Renewal, L.L.C.

MCNJ, Inc.

Midwest Building Products & Contractor Services of Kentucky, L.L.C.

Midwest Building Products & Contractor Services of Michigan, L.L.C.

Midwest Building Products & Contractor Services of Pennsylvania, L.L.C.

045050-0077-13401-Active.11845746

Midwest Building Products & Contractor Services of West Virginia, L.L.C.

MIDWEST BUILDING PRODUCTS & CONTRACTOR SERVICES, L.L.C.

MILLENNIUM TITLE AGENCY, LTD.

MMIP, L.L.C.

Natomas Central Neighborhood Housing, L.L.C.

New Land Title Agency, L.L.C.

PADDOCKS, L.L.C.

PARK TITLE COMPANY, LLC

Pine Ayr, LLC

RIDGEMORE UTILITY ASSOCIATES OF PENNSYLVANIA, L.L.C.

Ridgemore Utility, L.L.C.

SEABROOK ACCUMULATION CORPORATION

STONEBROOK HOMES, INC.

Terrapin Realty, L.L.C.

The Matzel & Mumford Organization, Inc

Washington Homes at Columbia Town Center, L.L.C.

Washington Homes, Inc.

Westminster Homes of Alabama, L.L.C.

Westminster Homes of Mississippi, LLC

Westminster Homes of Tennessee, Inc.

WESTMINSTER HOMES, INC.

WH LAND I, INC

WH PROPERTIES, INC.

WH/PR Land Company, L.L.C.

Woodland Lake Condominiums at Bowie New Town, L.L.C.

045050-0077-13401-Active.11845746

AMENDMENT TO SECOND LIEN PLEDGE AGREEMENT

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