Attached files

file filename
8-K - FORM 8-K - HORTON D R INC /DE/d343547d8k.htm
EX-5.1 - OPINION OF THOMAS B. MONTANO, ESQ. - HORTON D R INC /DE/d343547dex51.htm
EX-4.1 - FORM OF BASE INDENTURE - HORTON D R INC /DE/d343547dex41.htm
EX-1.1 - UNDERWRITING AGREEMENT - HORTON D R INC /DE/d343547dex11.htm
EX-4.2 - FORM OF SUPPLEMENTAL INDENTURE - HORTON D R INC /DE/d343547dex42.htm

Exhibit 5.2

[LETTERHEAD OF GIBSON, DUNN & CRUTCHER LLP]

Client: 39334-00088

May 1, 2012

D.R. Horton, Inc.

301 Commerce Street

Suite 500

Fort Worth, Texas 76102

 

Re: D.R. Horton, Inc. Offering of 4.750% Senior Notes due 2017
     Registration Statement on Form S-3 (File No. 333-162123)

Ladies and Gentlemen:

We have acted as counsel to D.R. Horton, Inc., a Delaware corporation (the “Company”), and certain of its subsidiaries and affiliates listed on Annex A hereto (the “Guarantors”) in connection with the preparation and filing with the Securities and Exchange Commission (the “Commission”) of a Registration Statement on Form S-3, file no. 333-162123 (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Securities Act”), the prospectus included therein, the prospectus supplement, dated April 25, 2012, filed with the Commission on April 26, 2012 pursuant to Rule 424(b) of the Securities Act (the “Prospectus Supplement”), and the offering by the Company pursuant thereto of $350,000,000 aggregate principal amount of the Company’s 4.750% Senior Notes due 2017 (the “Notes”).

The Notes will be issued under an Indenture, to be dated as of May 1, 2012 (the “Base Indenture”), between the Company and American Stock Transfer & Trust Company, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, to be dated as of May 1, 2012, relating to the Notes (the “Supplemental Indenture” and together with the Base Indenture, the “Indenture”) among the Company, the Guarantors and the Trustee, and are guaranteed pursuant to the terms of the Indenture and the notation endorsed on the Notes by the Guarantors (the “Guarantees”). The Notes have been offered pursuant to an Underwriting Agreement dated as of April 25, 2012 (the “Underwriting Agreement”) among the Company, the Guarantors and the Underwriters named therein (the “Underwriters”).

In arriving at the opinions expressed below, we have examined originals, or copies certified or otherwise identified to our satisfaction as being true and complete copies of the originals, of the Base Indenture, the Supplemental Indenture, the Notes and the Guarantees (collectively, the “Note Documents”) and such other documents, corporate records, certificates of officers of the Company and the Guarantors and of public officials and other instruments as we have deemed necessary or advisable to enable us to render these opinions. In our examination, we have assumed, without independent investigation, the genuineness of


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all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as copies. To the extent that our opinions may be dependent upon such matters, we have assumed, without independent investigation, that each of the Guarantors, other than the Guarantors identified on Annex A as “Specified Guarantors” (each Guarantor so identified, a “Specified Guarantor”) is validly existing under the laws of its jurisdiction of incorporation, has all requisite corporate or other entity power to execute, deliver and perform its obligations under the Note Documents to which it is a party; that the execution and delivery of such documents by each such party and the performance of its obligations thereunder have been duly authorized by all necessary corporate or other action and do not violate any law, regulation, order, judgment or decree applicable to each such party; and that such documents have been duly executed and delivered by each such party. As to any facts material to these opinions, we have relied to the extent we deemed appropriate and without independent investigation upon statements and representations of officers and other representatives of the Company and the Guarantors and others.

Based upon the foregoing, and subject to the assumptions, exceptions, qualifications and limitations set forth herein, we are of the opinion that the Notes, when authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters in accordance with the terms of the Underwriting Agreement, will be legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms and when the Notes with the Guarantees endorsed thereon have been duly authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters in accordance with the terms of the Underwriting Agreement, the Guarantees of the Notes will be legal, valid and binding obligations of the Guarantors obligated thereon, enforceable against such Guarantors in accordance with their respective terms.

The opinions expressed above are subject to the following additional exceptions, qualifications, limitations and assumptions:

A. We render no opinion herein as to matters involving the laws of any jurisdiction other than the State of New York and to the extent relevant for our opinions herein, the laws of the States of California, Colorado and Texas and the Delaware General Corporation Law and the Delaware Limited Liability Company Act. We are not admitted to practice in the State of Delaware; however, we are generally familiar with the Delaware General Corporation Law and the Delaware Limited Liability Company Act as currently in effect and have made such inquiries as we consider necessary to render these opinions. We have further assumed without independent investigation that the operating agreement of each Specified Guarantor that is a Delaware limited liability company constitutes a legal, valid and binding obligation of each party thereto, enforceable against it in accordance with its terms; to the extent our opinions are dependent on the interpretation of such agreement, they are based on the plain meaning of the provisions thereof in light of the Delaware Limited Liability Company Act. Without limitation, we do not express any opinion regarding any


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Delaware contract law. This opinion is limited to the effect of the current state of the laws of the States of New York, California, Colorado and Texas and the Delaware General Corporation Law and the Delaware Limited Liability Company Act and the facts as they currently exist. We assume no obligation to revise or supplement this opinion in the event of future changes in such laws or the interpretations thereof or such facts.

B. The opinions above are subject to (i) the effect of any bankruptcy, insolvency, reorganization, moratorium, arrangement or similar laws affecting the rights and remedies of creditors’ generally, including without limitation the effect of statutory or other laws regarding fraudulent transfers or preferential transfers, (ii) general principles of equity, including without limitation concepts of materiality, reasonableness, good faith and fair dealing and the possible unavailability of specific performance, injunctive relief or other equitable remedies regardless of whether enforceability is considered in a proceeding in equity or at law and (iii) the provisions of: (1) Article Eight of the Certificate of Incorporation of CH Investments of Texas, Inc.; (2) Article Eight of the Certificate of Incorporation of CHTEX of Texas, Inc.; (3) Paragraph Eight of the Certificate of Incorporation of D.R. Horton, Inc. – Chicago (excluding the first three sentences thereof); and (4) Article Ten of the Certificate of Incorporation of Western Pacific Housing, Inc.

C. We express no opinion regarding the effectiveness of (i) any waiver of stay, extension or usury laws or of unknown future rights, (ii) provisions relating to indemnification, exculpation or contribution, to the extent such provisions may be held unenforceable as contrary to public policy or federal or state securities laws, or (iii) any purported fraudulent transfer “savings” clause.

We consent to the filing of this opinion as an exhibit to the Registration Statement, and we further consent to the use of our name under the caption “Legal Matters” in the Registration Statement and the Prospectus Supplement. In giving these consents, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.

Very truly yours,

/s/ Gibson, Dunn & Crutcher LLP


ANNEX A

Guarantors

 

Name

  

Form of Entity

  

Jurisdiction of
Formation

  

Specified
Guarantor

C. Richard Dobson Builders, Inc.

   Corporation    Virginia    No

CH Investments of Texas, Inc.

   Corporation    Delaware    Yes

CHI Construction Company

   Corporation    Arizona    No

CHTEX of Texas, Inc.

   Corporation    Delaware    Yes

Continental Homes, Inc.

   Corporation    Delaware    Yes

Continental Homes of Texas, L.P.

   Limited Partnership    Texas    Yes

Continental Residential, Inc.

   Corporation    California    Yes

D.R. Horton—Emerald, Ltd.

   Limited Partnership    Texas    Yes

D.R. Horton—Schuler Homes, LLC

   Limited Liability Company    Delaware    Yes

D.R. Horton—Texas, Ltd.

   Limited Partnership    Texas    Yes

D.R. Horton, Inc.—Birmingham

   Corporation    Alabama    No

D.R. Horton, Inc.—Chicago

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Dietz-Crane

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Fresno

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Greensboro

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Gulf Coast (f/k/a DRH Regrem V, Inc.)

   Corporation    Delaware    Yes


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D.R. Horton, Inc.—Huntsville

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Jacksonville

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Louisville

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Minnesota

   Corporation    Delaware    Yes

D.R. Horton, Inc.—New Jersey

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Portland

   Corporation    Delaware    Yes

D.R. Horton, Inc.—Sacramento

   Corporation    California    Yes

D.R. Horton, Inc.—Torrey

   Corporation    Delaware    Yes

D.R. Horton LA North, Inc. (f/k/a DRH Regrem X, Inc.)

   Corporation    Delaware    Yes

D.R. Horton BAY, Inc. (f/k/a D.R. Horton OCI Inc., D.R. Horton Orange County Inc. and DRH Regrem IX, Inc.)

   Corporation    Delaware    Yes

D.R. Horton Cruces Construction, Inc. (f/k/a DRH Regrem XI, Inc.)

   Corporation    Delaware    Yes

D.R. Horton Los Angeles Holding Company, Inc.

   Corporation    California    Yes


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D.R. Horton Management Company, Ltd.

   Limited Partnership    Texas    Yes

D.R. Horton Materials, Inc.

   Corporation    Delaware    Yes

D.R. Horton VEN Inc. (f/k/a D.R. LAV Inc. and D.R. Horton San Diego Holding Company, Inc.)

   Corporation    California    Yes

DRH Cambridge Homes, Inc.

   Corporation    California    Yes

DRH Cambridge Homes, LLC

   Limited Liability Company    Delaware    Yes

DRH Construction, Inc.

   Corporation    Delaware    Yes

DRH Regrem VII, LP

   Limited Partnership    Texas    Yes

DRH Regrem VIII, LLC

   Limited Liability Company    Delaware    Yes

DRH Regrem XII, LP

   Limited Partnership    Texas    Yes

DRH Regrem XIV, Inc.

   Corporation    Delaware    Yes

DRH Regrem XV, Inc.

   Corporation    Delaware    Yes

DRH Regrem XVI, Inc.

   Corporation    Delaware    Yes

DRH Regrem XVII, Inc.

   Corporation    Delaware    Yes

DRH Regrem XVIII, Inc.

   Corporation    Delaware    Yes

DRH Regrem XIX, Inc.

   Corporation    Delaware    Yes

DRH Regrem XX, Inc.

   Corporation    Delaware    Yes

DRH Regrem XXI, Inc.

   Corporation    Delaware    Yes


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DRH Regrem XXII, Inc.

   Corporation    Delaware    Yes

DRH Regrem XXIII, Inc.

   Corporation    Delaware    Yes

DRH Regrem XXIV, Inc.

   Corporation    Delaware    Yes

DRH Regrem XXV, Inc. (f/k/a D.R. Horton VEN, Inc. and D.R. Horton Inc. – Los Angeles)

   Corporation    Delaware    Yes

DRH Southwest Construction, Inc.

   Corporation    California    Yes

DRH Tucson Construction, Inc.

   Corporation    Delaware    Yes

HPH Homebuilders 2000 L.P.

   Limited Partnership    California    Yes

KDB Homes, Inc.

   Corporation    Delaware    Yes

Meadows I, Ltd.

   Corporation    Delaware    Yes

Meadows II, Ltd.

   Corporation    Delaware    Yes

Meadows VIII, Ltd.

   Corporation    Delaware    Yes

Meadows IX, Inc.

   Corporation    New Jersey    No

Meadows X, Inc.

   Corporation    New Jersey    No

Melmort Co.

   Corporation    Colorado    Yes

Melody Homes, Inc.

   Corporation    Delaware    Yes

Schuler Homes of Arizona LLC

   Limited Liability Company    Delaware    Yes

Schuler Homes of California, Inc.

   Corporation    California    Yes

Schuler Homes of Oregon, Inc.

   Corporation    Oregon    No

Schuler Homes of Washington, Inc.

   Corporation    Washington    No

Schuler Mortgage, Inc.

   Corporation    Delaware    Yes

Schuler Realty Hawaii, Inc.

   Corporation    Hawaii    No


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SGS Communities at Grande Quay, L.L.C.

   Limited Liability Company    New Jersey    No

SHA Construction LLC

   Limited Liability Company    Delaware    Yes

SHLR of California, Inc.

   Corporation    California    Yes

SHLR of Colorado, Inc.

   Corporation    Colorado    Yes

SHLR of Nevada, Inc.

   Corporation    Nevada    No

SHLR of Utah, Inc.

   Corporation    Utah    No

SHLR of Washington, Inc.

   Corporation    Washington    No

SRHI LLC

   Limited Liability Company    Delaware    Yes

SSHI LLC

   Limited Liability Company    Delaware    Yes

Vertical Construction Corporation

   Corporation    Delaware    Yes

Western Pacific Funding, Inc.

   Corporation    California    Yes

Western Pacific Housing-Antigua, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing-Aviara, L.P.

   Limited Partnership    California    Yes

Western Pacific Housing-Boardwalk, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing-Broadway, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing-Canyon Park, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing-Carmel, LLC

   Limited Liability Company    Delaware    Yes


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Western Pacific Housing—Carrillo, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Communications Hill, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Copper Canyon, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Creekside, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Culver City, L.P.

  

Limited Partnership

   California    Yes

Western Pacific Housing—Del Valle, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Lomas Verdes, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Lost Hills Park, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—McGonigle Canyon, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Mountaingate, L.P.

  

Limited Partnership

   California    Yes

Western Pacific Housing—Norco Estates, LLC

  

Limited Liability Company

   Delaware    Yes

Western Pacific Housing—Oso, L.P.

  

Limited Partnership

   California    Yes

Western Pacific Housing—Pacific Park II, LLC

  

Limited Liability Company

   Delaware    Yes


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Western Pacific Housing—Park Avenue East, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Park Avenue West, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Playa Vista, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Poinsettia, L.P.

   Limited Partnership    California    Yes

Western Pacific Housing—River Ridge, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Robinhood Ridge, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Santa Fe, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Scripps, L.P.

   Limited Partnership    California    Yes

Western Pacific Housing—Scripps II, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Seacove, L.P.

   Limited Partnership    California    Yes

Western Pacific Housing—Studio 528, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Terra Bay Duets, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Torrance, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Torrey Commercial, LLC

   Limited Liability Company    Delaware    Yes


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Western Pacific Housing—Torrey Meadows, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Torrey Multi-Family, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Torrey Village Center, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Vineyard Terrace, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Windemere, LLC

   Limited Liability Company    Delaware    Yes

Western Pacific Housing—Windflower, L.P.

   Limited Partnership    California    Yes

Western Pacific Housing, Inc.

   Corporation    Delaware    Yes

Western Pacific Housing, L.P. (f/k/a Western Pacific Housing Co., a California Limited Partnership)

   Limited Partnership    California    Yes

Western Pacific Housing Management, Inc.

   Corporation    California    Yes

WPH-Camino Ruiz, LLC

   Limited Liability Company    Delaware    Yes