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DOCUMENT TITLE:  COMPLETION GUARANTY .
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Clause Heading
Section 1 - Defined Terms
Section 2 - Guaranty
Section 3 - Performance of Completion Obligations Upon Default by Borrower
Section 4 - Limited Guaranty of Payment
Section 5 - Guaranty Absolute
Section 6 - Subrogation; Subordination
Section 7 - Agreements of Guarantor
Section 8 - Waivers
Section 9 - Unconditional Obligation
Section 10 - Representations and Warranties
(a) - Power and Authority.
(b) - Address.
(c) - No Default.
(d) - Solvent.
(e) - Relationship to Borrower.
(f) - Validity of Guaranty.
(g) - Financial Statements.
(h) - Arrangements.
(i) - Other Information.
(j) - Litigation.
(k) - Taxes.
Section 11 - Covenants
(A) - Quarterly Financial Reports.
(B) - Compliance Certificate.
(i) - Annual Financial Statements of Lyon Homes.
(ii) - Annual Financial Statements of Woodman LLC and Woodman Inc.
(D) - Compliance Certificate.
(A) - Tangible Net Worth.
(B) - Ratio of Total Liabilities to Tangible Net Worth.
Section 12 - Remedies
Section 13 - Amendments, Etc.
Section 14 - Notices
Section 15 - No Waiver; Remedies
Section 16 - Setoff
Section 17 - Independent of Other Guaranties
Section 18 - Waiver of Right to Trial by Jury
Section 19 - Bankruptcy of Borrower
Section 20 - Joint and Several Liability
Section 21 - Entire Agreement
Section 22 - Governing Law; Jurisdiction
Section 23 - Miscellaneous