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[Gibbons, Del Deo, Dolan, Griffinger & Vecchione Letterhead]
September 12, 2005
Beazer Homes USA, Inc.
1000 Abernathy Road
Suite 1200
Atlanta, Georgia 30328
- Re:
- Local Counsel Opinion for Beazer Realty, Inc.
Dear Ladies and Gentlemen:
We have acted as local New Jersey counsel to Beazer Realty, Inc., a New Jersey corporation (the "Guarantor"), a subsidiary of Beazer Homes USA, Inc. ("Beazer"), in connection with the Registration Statement on Form S-4 (the "Registration Statement") filed by Beazer and the subsidiaries of Beazer listed in the Registration Statement, including the Guarantor, with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"). The Registration Statement relates to the issuance by the Company of up to $350,000,000 aggregate principal amount of its 67/8% Senior Notes due 2015 (the "New Notes") and the issuance by the Guarantor and certain other subsidiaries listed in the Registration Statement of guarantees with respect to the New Notes. The New Notes will be offered by Beazer in exchange for $350,000,000 aggregate principal amount of its outstanding 67/8% Senior Notes due 2015 which have not been registered under the Securities Act.
The New Notes and the New Guarantees will be issued under an indenture, dated April 17, 2002 (the "Original Indenture"), and a Fifth Supplemental Indenture, dated as of June 8, 2005 (the "Fifth Supplemental Indenture", and the Original Indenture as supplemented to date is referred to herein as the "Indenture") among Beazer, the Guarantor, certain other subsidiary guarantors listed in the Registration Statement and U.S. Bank National Association, as trustee.
Our engagement as local New Jersey counsel has been solely for the purpose of issuing this opinion letter. We did not participate in the negotiation or drafting of the Registration Statement or the Indenture. Except as specifically provided herein, we have not made any independent review or investigation of the organization, existence, good standing, assets, business or affairs of the Guarantor, or of any other matters. Except as specifically identified herein, we have not been retained or engaged to perform, nor have we performed, any independent review or investigation of any statutes, ordinances, laws, regulations, orders, corporate records, agreements, documents or instruments to which the Guarantor may be a party or to which the Guarantor or any of its property may be subject, or by which the Guarantor or any of its property may be bound, nor have we, except as specifically identified herein, been retained or engaged to perform, or performed, any independent review or investigation as to: (a) the existence of any actions, suits, arbitrations, claims, investigations or legal or administrative proceedings before any court or governmental department, commission, board, bureau, agency or instrumentality pending or threatened against or relating to the Guarantor or in which the Guarantor is a party; (b) the existence of violations by the Guarantor of its certificate of incorporation or by-laws or any predecessor version of the certificate of incorporation or by-laws or any notes, indentures, mortgages, leases, agreements, or other contracts or agreements or instruments to which the Guarantor may be a party or to which its property may be subject; or (c) the existence of, or violations by the Guarantor of, any rulings, injunctions, judgments, orders, writs or decrees to which the Guarantor or its property is subject.
Without limiting any of the other limitations, exceptions and qualifications stated elsewhere herein, we express no opinion with regard to the applicability or effect of federal law or the law of any jurisdiction other than, as in effect on the date of this opinion letter, the internal laws of the State of New Jersey.
For purposes of this opinion letter, we have examined copies of the following:
(A) the Original Indenture;
(B) the Fifth Supplemental Indenture;
(C) the certificate of incorporation of the Guarantor, certified as of July 27, 2005 by the Treasurer of the State of New Jersey, and the bylaws of the Guarantor as presently in effect, certified by the Secretary of the Guarantor as of the date hereof (collectively, the "Charter Documents");
(D) resolutions adopted by the board of directors of the Guarantor on April 17, 2002, certified by the Secretary of the Guarantor as of the date hereof, relating to the execution and delivery of, and the performance by the Guarantor of its obligations under the Original Indenture;
(E) resolutions adopted by the board of directors of the Guarantor on June 1, 2005, certified by the Secretary of the Guarantor as of the date hereof, relating to the execution and delivery of, and the performance by the Guarantor of its obligations under the Fifth Supplemental Indenture;
(F) written consent to action of Beazer Homes Corp, as the sole shareholder of the Guarantor, dated as of the date hereof, relating to the execution and delivery of, and the performance by the Guarantor of its obligations under the Fifth Supplemental Indenture; and
(G) A certificate of the Treasurer of the State of New Jersey, dated July 26, 2005, with respect to the incorporation and good standing of the Guarantor under the laws of the State of New Jersey (the "Good Standing Certificate").
The foregoing documents A and B are sometimes hereinafter referred to collectively as the "Transaction Documents".
In giving the following opinions, we have assumed (i) the genuineness of all signatures on the documents submitted to us, (ii) the authenticity and completeness of all documents submitted to us, (iii) the conformity to the originals of all such documents submitted to us as copies, (iv) the due authorization, execution and delivery of each document submitted to us by all of the parties thereto (other than the due authorization of the Transaction Documents by the Guarantor), (v) the legal capacity of all natural persons executing the Transaction Documents, (vi) that the Transaction Documents are the valid and binding obligations of each of the parties thereto, enforceable against such parties in accordance with their respective terms and that such Transaction Documents accurately describe and contain the mutual understanding of the parties, and that there are no oral or written statements or agreements that modify, amend or vary, or purport to modify, amend or vary, any of the terms of the Transaction Documents and (vii) that the statements contained in the certificates and comparable documents of public officials, officers and representatives of the Guarantor and other persons on which we have relied for purposes of this opinion are true and correct. As to questions of fact material to the opinions rendered herein, we have relied (without independent investigation, except as expressly indicated herein) upon certificates or comparable documents of the Guarantor and upon the representations and warranties made by the Guarantor in the Transaction Documents.
Based upon and subject to the foregoing and the qualifications and limitations set forth below, we are of the opinion that:
1. The Guarantor is validly existing as a corporation in good standing under the laws of the State of New Jersey, and the Guarantor has the corporate power to enter into and carry out its obligations under the Transaction Documents.
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2. The execution, delivery and performance of the Transaction Documents by the Guarantor have been duly authorized by all necessary corporate action on the part of the Guarantor.
3. The execution and delivery by the Guarantor of the Transaction Documents and the performance of its obligations thereunder do not (i) require any consent or approval of its stockholders that has not been obtained, (ii) cause the Guarantor to violate any New Jersey State law, rule or regulation, or (iii) violate any provision of the Charter Documents.
The opinions expressed herein are subject to the following exceptions, qualifications and limitations:
A. We express no opinion with respect to federal and state securities laws.
B. We express no opinion with respect to any document, instrument or agreement (including the exhibits or schedules to any Transaction Document) other than the Transaction Documents regardless of whether such document, instrument or agreement is referred to in the Transaction Documents.
C. With respect to our opinion set forth in paragraph 1 above, with your permission, we are relying solely and without independent investigation on our review and examination of the Good Standing Certificate and a certificate of an officer of the Guarantor and any documents certified to us thereby.
D. Our opinion in clause (ii) of paragraph 3 above is limited solely to laws, rules and regulations of the State of New Jersey that are generally applicable to transactions in the nature of those contemplated by the Transaction Documents between unregulated parties.
This opinion letter deals only with the specified legal issues expressly addressed herein, and you should not infer any opinion that is not explicitly addressed herein from any matter stated in this letter.
This opinion letter has been prepared for your use in connection with the Registration Statement and may not be relied upon for any other purpose. This opinion speaks as of the date hereof. We assume no obligation to advise you of any changes in the foregoing subsequent to the effectiveness of the Registration Statement
The law firm of Paul, Hastings, Janofsky & Walker, LLP may rely on this opinion for purposes of rendering its opinion in connection with the Registration Statement.
We hereby consent to the references in the Registration Statement, to our Firm under the caption "Legal Matters" and to the inclusion of this opinion as an exhibit to the Registration Statement. In giving this consent, 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 thereunder.
Very truly yours, | |
/s/ Gibbons, Del Deo, Dolan, Griffinger & Vecchione, P.C. | |
GIBBONS, DEL DEO, DOLAN, GRIFFINGER & VECCHIONE A Professional Corporation |
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