On February 17, 2009, Lennar Aircraft I, LLC, of which Lennar Corporation (the "Company") is the sole member, entered into an Amended and Restated Aircraft Dry Lease Agreement (the "Agreement"), dated as of the 1st day of December 2008, with US Home Corporation, a wholly-owned subsidiary of the Company, and Stuart Miller, the Company's President and Chief Executive Officer. Pursuant to FAA regulations under which the aircraft operates, Mr. Miller reimburses the Company for actual operating expenses incurred during personal use of the aircraft. Under the relationship created by the Agreement, Mr. Miller will now be permitted to additionally reimburse the Company for the Company's full cost of business use of the aircraft, which Mr. Miller intends to do, as permitted by the Agreement. The Agreement was prepared in November 2008 and submitted to the independent directors of the Company for their approval at their regular meeting on January 13, 2009. The independent directors approved the Agreement, and it was signed by the Company and Mr. Miller on February 17, 2009. The Agreement adds Mr. Miller as a party to the Agreement solely in the capacity of an optional payor. Mr. Miller previously entered into an Aircraft Time-Share Agreement with the Company in August 2005, amended by Amendment No. 1 to the Aircraft Time-Share Agreement in September 2005, which will remain in effect and requires him to reimburse the Company for operating expenses incurred in connection with personal use of the aircraft.

(d) Exhibits.

The following exhibit is filed as part of this Current Report on Form 8-K.

Exhibit No.      Description of Document
10.1             Amended and Restated Aircraft Dry Lease Agreement, dated as of the
                 1st day of December 2008.