CENTEX DEVELOPMENT CO LP
EX-10.1 AMENDMENT NO. 2 TO PARTNERSHIP AGREEMENT
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<TYPE>EX-10.1(B)
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<FILENAME>d10298exv10w1xby.htm
<DESCRIPTION>EX-10.1 AMENDMENT NO. 2 TO PARTNERSHIP AGREEMENT
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<P align="right"><FONT size="2">Exhibit&nbsp;10.1
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<P align="center"><FONT size="2">AMENDMENT NO. 2<BR>
TO<BR>
SECOND AMENDED AND RESTATED PARTNERSHIP AGREEMENT<BR>
OF<BR>
CENTEX DEVELOPMENT COMPANY, L.P.
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This AMENDMENT NO. 2 to SECOND AMENDED AND RESTATED PARTNERSHIP AGREEMENT
OF CENTEX DEVELOPMENT COMPANY, L.P. (the &#147;Amendment&#148;) is made as of this 10th
day of November&nbsp;2003, but effective for all purposes as of February&nbsp;24, 1998,
by and between 3333 Development Corporation, a Nevada corporation, as the
General Partner (&#147;Development&#148;), and Centex Homes, a Nevada general
partnership, as the Limited Partner (&#147;Centex&#148;).
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Development and Centex entered into that certain Amended and
Restated Partnership Agreement of Centex Development Company, L.P. (the
&#147;Partnership Agreement&#148;) as of the 24th day of February, 1998 with respect to
Centex Development Company, L.P., a Delaware limited partnership (the
&#147;Partnership&#148;);
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, as of the date hereof, Development is the sole general partner of
the Partnership and Centex owns all of the issued and outstanding limited
partnership interest of the Partnership and is the sole limited partner of the
Partnership; and
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Development and Centex are mutually desirous of amending the
Partnership Agreement pursuant to the terms of this Amendment;
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, for and in consideration of the premises set forth above
and the mutual covenants and agreements contained herein, and for other good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged by the parties hereto, Development and Centex hereby agree as
follows:
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;Pursuant to, and in accordance with, Article&nbsp;XV of the Partnership
Agreement, the first sentence of Section&nbsp;13.1(b) of the Partnership Agreement
is hereby deleted in its entirety and replaced with the following:
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<P align="left" style="margin-left:5%; margin-right:0%"><FONT size="2">&#147;After Detachment, the General Partner may be removed only
upon the affirmative votes of owners of at least 80% of the
Voting Percentage Interests of the Limited Partners; prior
to Detachment, the General Partner may not be removed by the
Limited Partners.&#148;
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;Except as expressly amended and modified by this Amendment, the
Partnership Agreement shall remain in full force and effect.
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<P align="center"><FONT size="2">&nbsp;
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<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the
date first written above.
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    <TD colspan="7" valign="top" align="left"><FONT size="2">3333 DEVELOPMENT CORPORATION,<BR>
a Nevada corporation</FONT></TD>
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    <TD colspan="7" valign="top" align="left"><FONT size="2">/s/ Stephen M. Weinberg</FONT></TD>
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    <TD colspan="7" valign="top" align="left"><FONT size="2">Stephen M. Weinberg</FONT></TD>
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a Nevada general partnership</FONT></TD>
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    <TD colspan="9" valign="top" align="left"><FONT size="2">/s/ Raymond G. Smerge</FONT></TD>
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