EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY AND QUALIFICATION
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
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AMERICAN STOCK TRANSFER & TRUST COMPANY
(Exact name of trustee as specified in its charter)
New York 13-3439945
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
59 Maiden Lane 10038
New York, New York (Zip Code)
(Address of trustee's
principal executive offices)
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D. R. HORTON, INC.
(Exact name of obligor as specified in its character)
Delaware 75-2386963
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
1901 Ascension Blvd., Suite 100
Arlington, Texas 76006
(Address of principal executive offices) (Zip Code)
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8.5% SENIOR NOTES DUE 2012
(Title of the Indenture Securities)
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GENERAL
1. General Information.
Furnish the following information as to the trustee:
a. Name and address of each examining or supervising authority to which
it is subject.
New York State Banking Department, Albany, New York
b. Whether it is authorized to exercise corporate trust powers.
The Trustee is authorized to exercise corporate trust powers.
2. Affiliations with Obligor and Underwriters.
If the obligor or any underwriter for the obligor is an affiliate of
the trustee, describe each such affiliation.
None.
3. Voting Securities of the Trustee.
Furnish the following information as to each class of voting securities
of the trustee:
As of May 21, 2002
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COL. A COL. B
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Title of Class Amount Outstanding
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Common Shares - par value $600 per share. 1,000 shares
4. Trusteeships under Other Indentures.
a. The Trustee is trustee for certain 8% Senior Notes due 2009, certain
8.375% Senior Notes due 2004, certain 10.5% Senior Notes due 2005,
certain Zero Coupon Convertible Senior Notes Due 2021 and certain
7.875% Senior Notes Due 2011 all issued by the Obligor under a certain
Indenture dated as of June 9, 1997 as supplemented from time to time.
b. The Trustee is trustee for certain 9.75% Senior Subordinated Notes
Due 2010 and certain 9.375% Senior Subordinated Notes Due 2011 all
issued by the Obligor under a certain Indenture dated as of September
11, 2000 as supplemented from time to time.
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5. Interlocking Directorates and Similar Relationships with the Obligor or
Underwriters.
None.
6. Voting Securities of the Trustee Owned by the Obligor or its Officials.
None.
7. Voting Securities of the Trustee Owned by Underwriters or their
Officials.
None.
8. Securities of the Obligor Owned or Held by the Trustee.
None.
9. Securities of Underwriters Owned or Held by the Trustee.
None.
10. Ownership or Holdings by the Trustee of Voting Securities of Certain
Affiliates or Security Holders of the Obligor.
None.
11. Ownership or Holdings by the Trustee of any Securities of a Person
Owning 50 Percent or More of the Voting Securities of the Obligor.
None.
12. Indebtedness of the Obligor to the Trustee.
None.
13. Defaults by the Obligor.
None.
14. Affiliations with the Underwriters.
None.
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15. Foreign Trustee.
Not applicable.
16. List of Exhibits.
T-1.1 - A copy of the Organization Certificate of American
Stock Transfer & Trust Company, as amended to date
including authority to commence business and exercise
trust powers was filed in connection with the
Registration Statement of Live Entertainment, Inc.,
File No. 33-54654, and is incorporated herein by
reference.
T-1.4 - A copy of the By-Laws of American Stock Transfer
& Trust Company, as amended to date was filed in
connection with the Registration Statement of Live
Entertainment, Inc., File No. 33-54654, and is
incorporated herein by reference.
T-1.6 - The consent of the Trustee required by Section
312(b) of the Trust Indenture Act of 1939.
Exhibit A.
T-1.7 - A copy of the latest report of condition of the
Trustee published pursuant to law or the requirements
of its supervising or examining authority. - Exhibit
B.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee,
American Stock Transfer & Trust Company, a corporation organized and existing
under the laws of the State of New York, 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 New York, and State of New York,
on the 21st day of May, 2002.
AMERICAN STOCK TRANSFER
& TRUST COMPANY
Trustee
By: /s/ Herbert J. Lemmer
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Vice President
EXHIBIT A
Securities and Exchange Commission
Washington, DC 20549
Gentlemen:
Pursuant to the provisions of Section 321 (b) of the Trust Indenture Act of
1939, and subject to the limitations therein contained, American Stock Transfer
& Trust Company hereby consents that reports of examinations of said corporation
by Federal, State, Territorial or District authorities may be furnished by such
authorities to you upon request therefor.
Very truly yours,
AMERICAN STOCK TRANSFER
& TRUST COMPANY
By /s/ Herbert J. Lemmer
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Vice President
EXHIBIT B
AMERICAN STOCK TRANSFER & TRUST COMPANY
59 MAIDEN LANE
NEW YORK, NY 10038
CONSOLIDATED REPORT OF CONDITION AND INCOME FOR A BANK WITH DOMESTIC
OFFICES ONLY AND TOTAL ASSETS OF LESS THAN $100 MILLION REPORT AT CLOSE OF
BUSINESS ON DECEMBER 31, 2001
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
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<Table>
ASSETS
1. Cash and balances due from depository institutions:
a. Non-interest-bearing balances and currency and coin 975
b. Interest-bearing balances
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A)
b. Available-for-sale securities (from Schedule RC-B, column D) 14,995
3. Federal funds sold and securities purchased under agreements to resell
4. Loans and lease financing receivables.
5. Trading assets
6. Premises and fixed assets (including capitalized leases) 4,992
7. Other real estate owned (from Schedule RC-M)
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M)
9. Customers' liability to this bank on acceptances outstanding
10. Intangible assets (from Schedule RC-M)
11. Other assets (from Schedule RC-F) 5,304
12. Total assets (sum of items 1 through 11) 26,266
</Table>
SCHEDULE RC - CONTINUED
DOLLAR AMOUNTS IN THOUSANDS
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<Table>
LIABILITIES
13. Deposits.
14. Federal funds purchased and securities sold under agreements to repurchase
15. Trading liabilities
16. Other borrowed money (includes mortgage indebtedness and obligations under
capitalized leases):
17. Not applicable
18. Bank's liability on acceptances executed and outstanding
19. Subordinated notes and debentures
20. Other liabilities (from Schedule RC-G) 11,205
21. Total liabilities (sum of items 13 through 20) 11,205
22. Not applicable
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus
24. Common stock 600
25. Surplus (exclude all surplus related to preferred stock) 9,289
26. Retained Earnings 5,172
27. Other equity capital components
28. Total equity capital (sum of items 23 through 27) 15,061
29. Total liabilities and equity capital (sum of items 21 and 28) 26,266
</Table>