Exhibit 25.1

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

  

(I.R.S. Employer

Identification No.)

 

101 North Phillips Avenue

Sioux Falls, South Dakota

   57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

Meritage Homes Corporation

ADDITIONAL REGISTRANTS LISTED BELOW

(Exact name of obligor as specified in its charter)

 

 

 

Maryland   86-0611231

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. Employer

Identification No.)

 

8800 East Raintree Drive, Suite 300,

Scottsdale, Arizona

   85260
(Address of principal executive offices)   (Zip code)

 

 

 

Name of Each Co-Registrant

   

State or Other

Jurisdiction of

Incorporation or

Organization

   

I.R.S. Employer

Identification

No.

   

Address of Principle Executive
Offices

California Urban Homes, LLC    California    20-2707345   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Holdings, L.L.C.    Texas    42-1732552   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes Construction, Inc.    Arizona    86-1028847   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Arizona, Inc.    Arizona    86-1028848   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of California, Inc.    California    86-0917765   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Colorado, Inc.    Arizona    20-1091787   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Florida, Inc.    Florida    59-1107583   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Nevada, Inc.    Arizona    43-1976353   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Texas Holding, Inc.    Arizona    86-0875147   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Texas Joint Venture Holding Company, LLC    Texas    75-2771799   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Texas, LLC    Arizona    65-1308131   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes Operating Company, LLC    Arizona    65-1308133   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Paseo Crossing, LLC    Arizona    86-1006497   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Paseo Construction, LLC    Arizona    86-0863537   

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH-Cavalier, LLC Arizona 86-1028847

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH Golf, LLC Arizona 56-2379206

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

WW Project Seller, LLC Arizona 86-1006497

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of the Carolinas, Inc. Arizona 27-5411983

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Carefree Title Agency, Inc. Texas 45-3742536

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

M&M Fort Myers Holdings, LLC Delaware 26-3996740

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Florida Realty LLC Florida 59-1107583

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of South Carolina, Inc. Arizona 46-5709345

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH Realty LLC Arizona 86-1006497

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Georgia, Inc. Arizona 47-1171110

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH GA Realty LLC Arizona 47-1171110

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH SC Realty LLC Arizona 46-5709345

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MTH Shelf Co., Inc. Arizona

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

MLC Holdings, Inc. dba MLC Land Holdings, Inc. Arizona 47-1967950

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Meritage Homes of Georgia Realty, LLC Arizona 47-1171110

8800 E. Raintree Drive

Suite 300

Scottsdale, Arizona 85260

Debt Securities

(Title of the indenture securities)

 

 

 

Item 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.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee. Not applicable.

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1. A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2. A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated June 27, 2012.**
Exhibit 3. A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated December 21, 2011. **
Exhibit 4. Copy of By-laws of the trustee as now in effect.***
Exhibit 5. Not applicable.
Exhibit 6. The consent of the trustee required by Section 321(b) of the Act.
Exhibit 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 8. Not applicable.
Exhibit 9. Not applicable.

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784-06.
** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-3 dated January 23, 2013 of file number 333-186155.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of file number 333-125274.

SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Los Angeles and State of California on the 17th day of February, 2015.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Maddy Hall

Maddy Hall
Vice President

EXHIBIT 6

February 17, 2015

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Maddy Hall

Maddy Hall
Vice President

EXHIBIT 7

Exhibit 7

Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business December 31, 2014, filed in accordance with 12 U.S.C. §161 for National Banks.

 

            Dollar Amounts
In Millions		  

ASSETS

      

Cash and balances due from depository institutions:

      

Noninterest-bearing balances and currency and coin

       $ 18,743   

Interest-bearing balances

         222,900   

Securities:

      

Held-to-maturity securities

         55,483   

Available-for-sale securities

         226,470   

Federal funds sold and securities purchased under agreements to resell:

      

Federal funds sold in domestic offices

         1,968   

Securities purchased under agreements to resell

         23,309   

Loans and lease financing receivables:

      

Loans and leases held for sale

         14,634   

Loans and leases, net of unearned income

      821,207      

LESS: Allowance for loan and lease losses

      10,844      

Loans and leases, net of unearned income and allowance

         810,363   

Trading Assets

         46,228   

Premises and fixed assets (including capitalized leases)

         7,491   

Other real estate owned

         2,492   

Investments in unconsolidated subsidiaries and associated companies

         856   

Direct and indirect investments in real estate ventures

         1   

Intangible assets

      

Goodwill

         21,627   

Other intangible assets

         18,578   

Other assets

         61,641   
     

 

 

  

Total assets

 $ 1,532,784   
     

 

 

  

LIABILITIES

Deposits:

In domestic offices

 $ 1,062,122   

Noninterest-bearing

   322,290   

Interest-bearing

   739,832   

In foreign offices, Edge and Agreement subsidiaries, and IBFs

   151,034   

Noninterest-bearing

   928   

Interest-bearing

   150,106   

Federal funds purchased and securities sold under agreements to repurchase:

Federal funds purchased in domestic offices

   946   

Securities sold under agreements to repurchase

   12,563   

     Dollar Amounts
In Millions		  

Trading liabilities

      25,409   

Other borrowed money

   

(includes mortgage indebtedness and obligations under capitalized leases)

      83,997   

Subordinated notes and debentures

      18,701   

Other liabilities

      32,601   
  

 

 

  

Total liabilities

 $ 1,387,373   

EQUITY CAPITAL

Perpetual preferred stock and related surplus

   0   

Common stock

   519   

Surplus (exclude all surplus related to preferred stock)

   106,158   

Retained earnings

   34,288   

Accumulated other comprehensive income

   4,019   

Other equity capital components

   0   
  

 

 

  

Total bank equity capital

   144,984   

Noncontrolling (minority) interests in consolidated subsidiaries

   427   
  

 

 

  

Total equity capital

   145,411   

Total liabilities, and equity capital

 $ 1,532,784   
  

 

 

  

I, John R. Shrewsberry, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

John R. Shrewsberry

Sr. EVP & CFO      

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

 

John Stumpf Directors
James Quigley
Enrique Hernandez, Jr.