SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(a)
(AMENDMENT NO. )(1)
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D.R. Horton, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
23331A 10 9
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(CUSIP Number)
Paul W. Buchschacher, Esq.
D.R. Horton, Inc.
1901 Ascension Blvd., Suite 100
Arlington, TX 76006
(817) 856-8200
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 22, 2001
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See
Rule 13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 13 Pages)
--------------------------
(1) The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP NO. 23331A 10 9 13D Page 2 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
TERRILL J. HORTON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
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7 SOLE VOTING POWER
794,036
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 3,315,587
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 4,109,623
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,109,623
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
N/A [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
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14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 23331A 10 9 13D Page 3 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DONALD RAY HORTON TRUST
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 499,995
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 499,995
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
499,995
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
N/A [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 23331A 10 9 13D Page 4 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARTHA ELIZABETH HORTON TRUST
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 456,002
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 456,002
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
456,002
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
N/A [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 23331A 10 9 13D Page 5 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DONALD RYAN HORTON TRUST
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,179,795
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,179,795
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,179,795
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
N/A [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 23331A 10 9 13D Page 6 of 13 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DOUGLAS REAGAN HORTON TRUST
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ---------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,179,795
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,179,795
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,179,795
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
N/A [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP NO. 23331A 10 9 13D Page 7 of 13 Pages
This Schedule 13D is filed by Terrill J. Horton (the "Reporting
Person") to report the Reporting Person's agreement with Schuler Homes, Inc. to
vote the shares of Common Stock (the "Shares") of D.R. Horton, Inc. (the
"Issuer") beneficially owned by the Reporting Person, as trustee for four
trusts, in favor of the proposed merger of Schuler Homes with and into the
Issuer (the "Merger") with the Issuer as the surviving corporation.
Item 1. Security and Issuer.
(a) Name of Issuer: D.R. Horton, Inc.
(b) Title of Class of Securities: Common Stock
(c) Address of Issuer's Principal Executive Offices: 1901
Ascension Blvd., Suite 100, Arlington, Texas 76006
Item 2. Identity and Background.
(a) Name of Person Filing: Terrill J. Horton, individually and as
sole trustee of each of the Donald Ray Horton Trust, the
Martha Elizabeth Horton Trust, the Donald Ryan Horton Trust
and the Douglas Reagan Horton Trust (collectively, the
"Trusts"). A copy of the joint filing agreement among the
Reporting Person and each of the Trusts is attached hereto as
Exhibit 1.
(b) Residence or Business Address: 1901 Ascension Blvd., Suite
100, Arlington, Texas 76006
(c) Present principal occupation: The Reporting Person is retired.
(d) None
(e) None
(f) Citizenship: United States of America
Item 3. Source and Amount of Funds or Other Consideration.
No funds or consideration, other than the desire to encourage Schuler
Homes to enter into the Merger Agreement described in Item 4, were involved in
the October 22, 2001 transaction. The Reporting Person has previously reported
beneficial ownership of five percent or more of the outstanding Shares of the
Issuer on a statement on Schedule 13G.
Item 4. Purpose of Transaction.
On October 22, 2001, the Issuer and Schuler Homes, Inc., a Delaware
corporation ("Schuler Homes"), entered into an Agreement and Plan of Merger,
dated as of October 22, 2001 (the "Merger Agreement"), pursuant to which the
Issuer would acquire Schuler Homes by means of a merger of Schuler Homes with
and into the Issuer (the "Merger"), with the Issuer as the surviving
corporation.
CUSIP NO. 23331A 10 9 13D Page 8 of 13 Pages
Simultaneously with the execution of the Merger Agreement, the
Reporting Person, solely in his capacity as trustee for the four Trusts, along
with Donald R. Horton, entered into a Voting Agreement, dated as of October 22,
2001 (the "Voting Agreement"), with Schuler Homes, pursuant to which the
Reporting Person, as trustee, and Donald R. Horton each agreed to vote their
respective Shares in favor of the Merger at any meeting of the Issuer's
stockholders held to consider and vote upon the Merger. The Shares held by the
Reporting Person, as trustee, and Donald R. Horton collectively represent
approximately 16.0% of the Shares outstanding as of the date of this Schedule
13D. In addition, the Reporting Person, as trustee, agreed, with certain
exceptions, not to transfer any Shares beneficially owned by the Trusts during
the term of the Voting Agreement. The Voting Agreement will terminate on the
earlier of (a) the effective time of the Merger, (b) termination of the Merger
Agreement according to its terms or (c) the written mutual consent of the
parties thereto. The foregoing summary of the Voting Agreement is qualified in
its entirety by reference to such agreement, which has been filed as an exhibit
to this Schedule 13D and incorporated herein by reference.
Other than as described above, the Reporting Person, individually or as
trustee of the Trusts, has no present plans or proposals which relate to or
would result in (i) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its subsidiaries,
(ii) a sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries, (iii) any change in the board of directors or management of
the Issuer or any of its subsidiaries, (iv) any material change in the present
capitalization or dividend policy of the Issuer, (v) any other material change
in the Issuer's business or corporate structure, (vi) changes in the Issuer's
charter or bylaws or other actions which may impede the acquisition of control
of the Issuer by any person, (vii) causing a class of securities of the Issuer
to be delisted from a national securities exchange or cease to be quoted in an
inter-dealer quotation system of a registered national securities association,
(viii) a class of equity securities of the Issuer becoming eligible for
termination of registration pursuant to Section 12(b)(4) of the Securities
Exchange Act of 1934 or (ix) any action similar to any of those described above.
However, the Reporting Person, in his capacity as member of the Issuer's Board
of Directors, may from time to time be involved in discussions which relate to
the transactions described in this Item 4. He disclaims any duty to disclose
such discussions, plans or proposals of the Issuer or others, except as required
by applicable laws and regulations; and he retains his right to modify his plans
with respect to the transactions described in this Item 4, to acquire or dispose
of securities of the Issuer and to formulate plans and proposals which could
result in the occurrence of any such events, subject to applicable laws and
regulations.
Item 5. Interest In Securities Of The Issuer.
At October 22, 2001:
(a) - (b)
The Reporting Person
(a) Amount Beneficially Owned: 4,109,623
Percent of Class: 5.3%, based upon 76,909,278 Shares
outstanding on October 22, 2001 (reflects 11% stock
dividend paid on March 23, 2001).
(b) Number of shares as to which such person has:
CUSIP NO. 23331A 10 9 13D Page 9 of 13 Pages
(i) Sole power to vote or to direct the vote:
794,036
(ii) Shared power to vote or to direct the vote:
3,315,587. Pursuant to the Voting Agreement
described in Item 4, the Reporting Person
shares voting power with Schuler Homes,
Inc., a Delaware corporation, in that he has
agreed with Schuler Homes that he will vote
the Shares beneficially owned by the Trusts
in favor of the Merger. Schuler Homes is a
homebuilder with its principal executive and
business office located at 400 Continental
Boulevard, Suite 100, El Segundo, CA 90245.
To the Reporting Person's knowledge, during
the last five years, Schuler Homes has not
been convicted in a criminal proceeding
(excluding traffic violations or similar
misdemeanors) and has not been a party to
any civil proceeding of a judicial or
administrative body of competent
jurisdiction that, as a result of such
proceeding, subjected Schuler Homes to a
judgment, decree or final order enjoining
Schuler Homes from future violations of, or
prohibiting or mandating activities subject
to, Federal or State securities laws or
finding any violations with respect to such
laws.
(iii) Sole power to dispose or to direct the
disposition of: 4,109,623
(iv) Shared power to dispose or to direct the
disposition of: -0-
The Donald Ray Horton Trust
(a) Amount Beneficially Owned: 499,995
Percent of Class: 0.7%, based upon 79,909,278 Shares
outstanding on October 22, 2001 (reflects 11% stock
dividend paid on March 23, 2001).
(b) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
499,995. See the discussion above by the
Reporting Person in Item 5(b)(ii) with
respect to Schuler Homes.
(iii) Sole power to dispose or to direct the
disposition of: 499,995
(iv) Shared power to dispose or to direct the
disposition of: -0-
The Martha Elizabeth Horton Trust
(a) Amount Beneficially Owned: 456,002
Percent of Class: 0.6%, based upon 76,909,278 Shares
outstanding on October 22, 2001 (reflects 11% stock
dividend paid on March 23, 2001).
(b) Number of shares as to which such person has:
CUSIP NO. 23331A 10 9 13D Page 10 of 13 Pages
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
456,002. See the discussion above by the
Reporting Person in Item 5(b)(ii) with
respect to Schuler Homes.
(iii) Sole power to dispose or to direct the
disposition of: 456,002
(iv) Shared power to dispose or to direct the
disposition of: -0-
The Donald Ryan Horton Trust
(a) Amount Beneficially Owned: 1,179,795
Percent of Class: 1.5%, based upon 76,909,278 Shares
outstanding on October 22, 2001 (reflects 11% stock
dividend paid on March 23, 2001).
(b) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
1,179,795. See the discussion above by the
Reporting Person in Item 5(b)(ii) with
respect to Schuler Homes.
(iii) Sole power to dispose or to direct the
disposition of: 1,179,795
(iv) Shared power to dispose or to direct the
disposition of: -0-
The Douglas Reagan Horton Trust
(a) Amount Beneficially Owned: 1,179,795
Percent of Class: 1.5%, based upon 76,909,278 Shares
outstanding on October 22, 2001 (reflects 11% stock
dividend paid on March 23, 2001).
(b) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
-0-
(ii) Shared power to vote or to direct the vote:
1,179,795. See the discussion above by the
Reporting Person in Item 5(b)(ii) with
respect to Schuler Homes.
(iii) Sole power to dispose or to direct the
disposition of: 1,179,795
(iv) Shared power to dispose or to direct the
disposition of: -0-
CUSIP NO. 23331A 10 9 13D Page 11 of 13 Pages
The Reporting Person and each of the Trusts:
(c) The Reporting Person and the Trusts have not engaged in any
transactions in the Issuer's Shares during the sixty-day
period immediately preceding the date of this Schedule 13D,
except as described elsewhere herein.
(d) Not Applicable.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect To Securities of the Issuer.
Except as described elsewhere in this Schedule 13D, the Reporting
Person and the trusts have no other contract, arrangement, understanding or
relationship (legal or otherwise) with any person with respect to any securities
of the Issuer, finder's fees, joint ventures, loan or option arrangements, puts
or calls, guarantees of profits, division of profits or losses, or the giving or
withholding of proxies.
Item 7. Materials to be Filed as Exhibits.
Exhibit 1 Joint Filing Agreement, dated as of October 22, 2001,
among the Reporting Person and each of the Trusts
Exhibit 2 Voting Agreement, dated as of October 22, 2001, among
the Reporting Person, as trustee, Donald R. Horton
and Schuler Homes
CUSIP NO. 23331A 10 9 13D Page 12 of 13 Pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
Dated: October 22, 2001 /s/ Terrill J. Horton
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Signature
Terrill J. Horton
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Name
The Donald Ray Horton Trust
By: /s/ Terrill J. Horton
--------------------------------------
Terrill J. Horton, Trustee
The Martha Elizabeth Horton Trust
By: /s/ Terrill J. Horton
--------------------------------------
Terrill J. Horton, Trustee
The Donald Ryan Horton Trust
By: /s/ Terrill J. Horton
--------------------------------------
Terrill J. Horton, Trustee
The Douglas Reagan Horton Trust
By: /s/ Terrill J. Horton
--------------------------------------
Terrill J. Horton, Trustee
CUSIP NO. 23331A 10 9 13D Page 13 of 13 Pages
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
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1 Joint Filing Agreement, dated as of October 22, 2001, among
the Reporting Person and each of the Trusts
2 Voting Agreement, dated as of October 22, 2001, among the
Reporting Person, as trustee, Donald R. Horton and Schuler
Homes