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<P align="right" style="font-size: 10pt"><B>Registration No. _____________</B>



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</B>


<P align="center" style="font-size: 24pt"><B>TARRAGON CORPORATION<BR>
<HR size="1" noshade width="100%" align="center" color="#000000"></B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in governing instruments)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Nevada
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">94-2432628</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction of<BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">1775 Broadway, 23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> Floor<BR>
New York, NY 10019<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt"> &nbsp; &nbsp; &nbsp; &nbsp;
&nbsp; &nbsp; &nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of Principal
Executive Offices)&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">TARRAGON CORPORATION OMNIBUS PLAN<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Full title of the plan)</DIV>



<P align="center" style="font-size: 10pt">William S. Friedman<BR>
1775 Broadway, 23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> Floor<BR>
New York, New York 10019<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Name and address of agent for service)</DIV>



<P align="center" style="font-size: 10pt">(212)&nbsp;949-5000 &#149; (212)&nbsp;949-8001 (Fax)<BR>
<HR size="1" noshade width="100%" align="center" color="#000000">


<DIV align="center" style="font-size: 10pt">(Telephone number, including area code, of agent for service)</DIV>



<P align="center" style="font-size: 10pt">With a Copy to:<BR>
Steven C. Metzger, Esq.<BR>
Metzger &#038; McDonald PLLC<BR>
2626 Cole Avenue, Suite&nbsp;900<BR>
Dallas, Texas 75204<BR>
(214)&nbsp;969-7600 &#149; (214)&nbsp;523-3838 (Fax)



<P align="center" style="font-size: 10pt"><B>Calculation of Registration Fee</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="62%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD><!-- VRule -->
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-bottom: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

    <TD nowrap align="center">Title of securities</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">maximum offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">aggregate offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%" style="border-left: 1px solid #000000">&nbsp;</TD>

    <TD nowrap align="center">to be registered </TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">registered (1)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">price per units(s)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">price (2)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">registration fee</TD>
    <TD>&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000">&nbsp;</TD>
</TR>

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<TR valign="bottom">
    <TD width="1%" style="border-left: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
                    <TD style="border-top: 1px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Tarragon Corporation
Common Stock, par
value $0.01 per share</DIV></TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 1px solid #000000">2,000,000 Shares</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">20.19</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">37,668.324.72</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 1px solid #000000">$</TD>
    <TD align="right" style="border-top: 1px solid #000000">4,433.56</TD>
    <TD style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-right: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>

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</TABLE>
</DIV>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(1)&nbsp;&nbsp;</TD>
    <TD>Pursuant to Rule&nbsp;416 under the Securities Act of 1933, as amended, this registration
statement also covers an indeterminate additional amount of shares of Common Stock to be
offered or sold pursuant to the anti-dilution provisions of the Omnibus Plan.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(2)&nbsp;&nbsp;</TD>
    <TD>Calculated based on 409,101 shares subject to outstanding Awards issued under the Omnibus
Plan at exercise prices ranging from $8.36 to $20.94 per share, and the remaining 1,590,899
shares at a price per share calculated on the basis of the closing sales price per share, as
reported on NASDAQ National Market on March&nbsp;31, 2005, of $20.19, all in accordance with Rule
457(h) promulgated under the Securities Act of 1933, as amended.</TD>
</TR>

</TABLE>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">








<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;1. Plan Information</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not required to be filed with this Registration Statement.


<P align="center" style="font-size: 10pt">- 1 -
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Documents by Reference</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarragon Corporation (the &#147;Registrant&#148; or &#147;Tarragon&#148; or the &#147;Company&#148; or &#147;we&#148;) incorporates by
reference the following documents which we have previously filed with the Securities and Exchange
Commission (File No.&nbsp;000-22999):


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.&nbsp;&nbsp;</TD>
    <TD>Tarragon Corporation&#146;s Annual Report on Form 10-K (File No.&nbsp;000-22999)
for the fiscal year ended December&nbsp;31, 2004 filed on March&nbsp;16, 2005.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">2.&nbsp;&nbsp;</TD>
    <TD>Tarragon Corporation&#146;s Annual Report to Stockholders.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">3.&nbsp;&nbsp;</TD>
    <TD>All other reports filed pursuant to Sections 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended since the end of the fiscal year
covered by the document referred to in (1)&nbsp;above.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">4.&nbsp;&nbsp;</TD>
    <TD>Description of Tarragon&#146;s common stock set forth in a Registration
Statement on Form 8-B filed on August&nbsp;20, 1997 (File No.&nbsp;000-22999) as updated
by Registration Statement on Form S-3 No.&nbsp;333-121258 effective January&nbsp;24, 2005
under the caption &#147;Description of Capital Stock &#150; Common Stock.&#148;</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents which we subsequently file pursuant to Sections&nbsp;13(a), 13(c), 14 and 15(d) of
the Securities Exchange Act of 1934 prior to the filing of a post-effective amendment to this
Registration Statement, which indicate that all of the shares of Common Stock offered have been
sold, or which de-registers all of such shares then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be part hereof from the date of
filing of such documents.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in any document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to
the extent that a statement contained herein or in any other subsequently-filed document which also
is incorporated or deemed to be incorporated by reference herein modifies or supercedes such
statement. Any statement so modified or superceded shall not be deemed, except as so modified or
superceded, to constitute a part of this Registration Statement.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interest of Named Experts and Counsel</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tarragon&#146;s Articles of Incorporation provide that it &#147;shall indemnify to the fullest extent
authorized or permitted by law . . . any person made or threatened to be made a party or witness to
any action, suit or proceeding (whether civil, criminal or otherwise) by reason of the fact that
such person is or was a director, officer, employee or agent&#148; of Tarragon. Further, Tarragon&#146;s
Bylaws provide that &#147;&#091;e&#093;ach officer director or employee . . . shall be indemnified . . . to the
full extent permitted under Chapter&nbsp;78 of the Nevada Revised Statutes . . . and other applicable
law.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Nevada Revised Statutes, a corporation may indemnify persons for expenses
related to an action, suit or proceeding, except an action by or in the right of the corporation,
by reason of the fact that such person is or was


<P align="center" style="font-size: 10pt">- 2 -
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">a director, officer, employee or agent, if such
person acted in good faith and in a manner which he reasonably believed to be in or not opposed to
the best interests of the corporation, and, with respect to any criminal action or proceeding, if
such person had no reasonable cause to believe his conduct was unlawful. The expenses indemnified
against in this provision include attorneys&#146; fees, judgments, fines and amounts paid in settlement
actually and reasonably incurred in connection with the action, suit or proceeding. The Nevada
Revised Statutes further provide that a corporation may indemnify persons for attorneys&#146; fees
related to an action, suit or proceeding by or in the right of the corporation to procure a
judgment in its favor by reason of the fact that such person is or was a director, officer,
employee or agent, if such person acted in good faith and in a manner which he reasonably believed
to be in or not opposed to the best interests of the corporation. A corporation may also indemnify
directors for amounts paid in judgments and settlements in such a suit, but only if ordered by a
court after determining that the person is &#147;fairly and reasonably&#148; entitled to indemnity.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Management Liability Provision of Tarragon&#146;s Articles of Incorporation, directors do
not have personal liability to Tarragon or to its stockholders for monetary damages for any breach
of their fiduciary duties as directors (including, without limitation, any liability for gross
negligence in the performance of their duties), except


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>for acts or omissions which involve intentional misconduct, fraud or a
knowing violation of law or</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">&#149;&nbsp;&nbsp;</TD>
    <TD>for the payment of dividends in violation of NRS 78.300.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By precluding personal liability for certain breaches of fiduciary duty, including grossly
negligent business decisions made in connection with evaluating takeover proposals to acquire
Tarragon, the Management Liability Provision supplements indemnification rights afforded under
Tarragon&#146;s Articles of Incorporation and Bylaws which provide, in substance, that Tarragon shall
indemnify its directors, officers, employees and agents to the fullest extent permitted by the
Nevada Revised Statutes and other applicable laws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling Tarragon under the foregoing provisions, we
have been advised that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable. In the event that a claim for
indemnification against such liabilities (other than for the payment by Tarragon of expenses
incurred or paid by a director, officer or controlling person in the successful defense of any
action, suit or proceeding) is asserted against Tarragon by any director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption from Registration Claimed.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following are filed herewith as exhibits or are incorporated by reference as indicated
below.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Designation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Incorporation of Tarragon Corporation filed with and
approved by the Secretary of State of Nevada on April&nbsp;2, 1997
(incorporated by reference is made to Exhibit&nbsp;3.2 to Form&nbsp;8-K of
Tarragon Corporation for Event Reported July&nbsp;10, 1997).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Tarragon Corporation as adopted April&nbsp;3, 1997 (incorporation
by reference is made to Exhibit&nbsp;3.3 to Form&nbsp;8-K of Tarragon Corporation
for Event Reported July&nbsp;10, 1997).</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">- 3 -
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Designation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Agreement and Plan of Merger of Vinland Property Corporation and
Tarragon Corporation dated July&nbsp;24, 1997 (incorporation by reference is
made to Exhibit&nbsp;3.4 to Form&nbsp;8-K of Tarragon Corporation for Event
Reported July&nbsp;10, 1997).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Merger of National Income Realty Corporation into Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on November&nbsp;24, 1998 (incorporation by reference is made to
Exhibit&nbsp;3.8 to Form&nbsp;8-K Current Report for Event Occurring November&nbsp;24,
1998 and to Exhibit&nbsp;3.6 to Registration Statement No.&nbsp;333-60527 on Form
S-4).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to Articles of Incorporation of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on June&nbsp;17, 2004 (incorporation by reference is made to Exhibit
3.10 to Form&nbsp;8-K Current Report for Event occurring June&nbsp;14, 2004).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Designation of Preferences and Relative Participating or
Optional or Other Special Rights and Qualifications, Limitations, or
Restrictions Thereof of 10% Cumulative Preferred Stock of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on May&nbsp;1, 2000 (incorporation by reference is made to Exhibit&nbsp;4.4
to Registrant&#146;s Registration Statement No.&nbsp;333-31424 on Form&nbsp;S-4).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture Agreement dated September&nbsp;16, 2004, between Tarragon
Corporation and US Bank National Association, as Trustee (incorporation
by reference is made to Exhibit&nbsp;4.1 to Form&nbsp;10-Q for the quarter ended
September&nbsp;30, 2004 of Tarragon Corporation).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Metzger &#038; McDonald PLLC as to the legality of the securities.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Lionel, Sawyer &#038; Collins as to the legality of the securities.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tarragon Corporation Omnibus Plan approved by stockholders on June&nbsp;14,
2004 (incorporation by reference is made to Exhibit&nbsp;10.3 to Form&nbsp;8-K
Current Report for Event occurring June&nbsp;14, 2004).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Metzger &#038; McDonald PLLC (included in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Lionel, Sawyer &#038; Collins (included in Exhibit&nbsp;5.2)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Grant Thornton LLP</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (included on signature page)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed with this registration statement.</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement;



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after
the effective date of this registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set
forth in this registration statement;


<P align="center" style="font-size: 10pt">- 4 -
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan
of distribution not previously disclosed in this registration
statement or any material change to such information in this
registration statement;



<P align="left" style="margin-left:3%; font-size: 10pt"><U>provided</U>, <U>however</U>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed by Tarragon pursuant to
Section&nbsp;13 or Section 15(d) of the Exchange Act that are incorporated by reference
in the registration statement.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration
statement to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering thereof.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To remove from the registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of our annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling Tarragon under the foregoing provisions, we
have been advised that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable. In the event that a claim for
indemnification against such liabilities (other than for the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of our
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.



<P align="center" style="font-size: 10pt">- 5 -
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, Tarragon certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing a Form S-8 and has
duly caused this Registration Statement or amendment thereto to be signed on its behalf by the
undersigned, thereunto duly authorized, in New York, New York, on March&nbsp;31, 2005.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">TARRAGON CORPORATION</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ William S. Friedman</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William S. Friedman</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer and Director</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS that each person whose signature appears below on this
registration statement constitutes and appoints each of William S. Friedman and Erin D. Pickens his
true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution for
him or her and in his or her name, place and stead, in any and all capacities (until revoked in
writing) to sign any and all amendments (including post-effective amendments thereto) to this
registration statement of Tarragon Corporation and to file same, with all exhibits thereto, and
other documents in connection therewith with the Securities and Exchange Commission, granting unto
each said attorney-in-fact and agents, or any of them, or their or his or her substitute or
substitutes full power and authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he might or could do in person hereby
ratifying and confirming all that said attorney-in-fact and agent or his substitute or substitutes
may lawfully do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement or
amendment thereto has been signed below by the following persons in the capacities and on the date
indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"> <B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ William S. Friedman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Executive Officer and Chairman of the Board of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">William S. Friedman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Directors (Principal Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Erid D. Pickens
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President and Chief Financial Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Erin D. Pickens
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Principal Financial and Accounting Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Willie K. Davis
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Willie K. Davis</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Richard Frary
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Richard Frary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Lance Liebman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lance Liebman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Robert C. Rohdie
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert C. Rohdie</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Robert P. Rothenberg
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Robert P. Rothenberg</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Lawrence G. Schafran
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lawrence G. Schafran</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Raymond V.J. Schrag
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Raymond V.J. Schrag</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; border-bottom: 1px solid #000000">/s/ Carl B. Weisbrod
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">March&nbsp;31, 2005</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Carl B. Weisbrod</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">- 6 -
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>INDEX TO EXHIBITS</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="88%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B>Designation</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Incorporation of Tarragon Corporation filed with and
approved by the Secretary of State of Nevada on April&nbsp;2, 1997
(incorporated by reference is made to Exhibit&nbsp;3.2 to Form&nbsp;8-K of
Tarragon Corporation for Event Reported July&nbsp;10, 1997).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Bylaws of Tarragon Corporation as adopted April&nbsp;3, 1997 (incorporation
by reference is made to Exhibit&nbsp;3.3 to Form&nbsp;8-K of Tarragon Corporation
for Event Reported July&nbsp;10, 1997).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Agreement and Plan of Merger of Vinland Property Corporation and
Tarragon Corporation dated July&nbsp;24, 1997 (incorporation by reference is
made to Exhibit&nbsp;3.4 to Form&nbsp;8-K of Tarragon Corporation for Event
Reported July&nbsp;10, 1997).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Articles of Merger of National Income Realty Corporation into Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on November&nbsp;24, 1998 (incorporation by reference is made to
Exhibit&nbsp;3.8 to Form&nbsp;8-K Current Report for Event Occurring November&nbsp;24,
1998 and to Exhibit&nbsp;3.6 to Registration Statement No.&nbsp;333-60527 on Form
S-4).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">3.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Amendment to Articles of Incorporation of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on June&nbsp;17, 2004 (incorporation by reference is made to Exhibit
3.10 to Form&nbsp;8-K Current Report for Event occurring June&nbsp;14, 2004).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Certificate of Designation of Preferences and Relative Participating or
Optional or Other Special Rights and Qualifications, Limitations, or
Restrictions Thereof of 10% Cumulative Preferred Stock of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on May&nbsp;1, 2000 (incorporation by reference is made to Exhibit&nbsp;4.4
to Registrant&#146;s Registration Statement No.&nbsp;333-31424 on Form&nbsp;S-4).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Indenture Agreement dated September&nbsp;16, 2004, between Tarragon
Corporation and US Bank National Association, as Trustee (incorporation
by reference is made to Exhibit&nbsp;4.1 to Form&nbsp;10-Q for the quarter ended
September&nbsp;30, 2004 of Tarragon Corporation).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.1*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Metzger &#038; McDonald PLLC as to the legality of the securities.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">5.2*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Lionel, Sawyer &#038; Collins as to the legality of the securities.</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tarragon Corporation Omnibus Plan approved by stockholders on June&nbsp;14,
2004 (incorporation by reference is made to Exhibit&nbsp;10.3 to Form&nbsp;8-K
Current Report for Event occurring June&nbsp;14, 2004).</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Metzger &#038; McDonald PLLC (included in Exhibit&nbsp;5.1)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Lionel, Sawyer &#038; Collins (included in Exhibit&nbsp;5.2)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.3*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Grant Thornton LLP</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">24.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Power of Attorney (set forth on signature page)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<HR size="1" width="18%" align="left" noshade color="#000000">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="1%" nowrap align="left">*</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Filed herewith.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">- 7 -
</DIV>

</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "d24047sv8.htm", "description": "FORM S-8", "secsgml_size_bytes": 58953}]
{"company-data": {"conformed-name": "TARRAGON CORP", "cik": "0001038217", "assigned-sic": "6798", "irs-number": "942432628", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-123805", "film-number": "05729361"}, "business-address": {"street1": "3100 MONTICELLO AVE", "street2": "STE 200", "city": "DALLAS", "state": "TX", "zip": "75205", "phone": "2145992200"}, "mail-address": {"street1": "3100 MONTICELLO AVENUE", "street2": "SUITE 200", "city": "DALLAS", "state": "TX", "zip": "75205"}, "former-company": {"former-conformed-name": "TARRAGON REALTY INVESTORS INC", "date-changed": "19970423"}}
sv8
Registration No. _____________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
TARRAGON CORPORATION
(Exact name of registrant as specified in governing instruments)
Nevada
94-2432628
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
1775 Broadway, 23
rd
Floor
New York, NY 10019
(Address of Principal
Executive Offices)             

           (Zip Code)
TARRAGON CORPORATION OMNIBUS PLAN
(Full title of the plan)
William S. Friedman
1775 Broadway, 23
rd
Floor
New York, New York 10019
(Name and address of agent for service)
(212) 949-5000 • (212) 949-8001 (Fax)
(Telephone number, including area code, of agent for service)
With a Copy to:
Steven C. Metzger, Esq.
Metzger & McDonald PLLC
2626 Cole Avenue, Suite 900
Dallas, Texas 75204
(214) 969-7600 • (214) 523-3838 (Fax)
Calculation of Registration Fee
Proposed
Proposed
maximum
Title of securities
Amount to be
maximum offering
aggregate offering
Amount of
to be registered
registered (1)
price per units(s)
price (2)
registration fee
Tarragon Corporation
Common Stock, par
value $0.01 per share
2,000,000 Shares
$
20.19
$
37,668.324.72
$
4,433.56
(1)
Pursuant to Rule 416 under the Securities Act of 1933, as amended, this registration
statement also covers an indeterminate additional amount of shares of Common Stock to be
offered or sold pursuant to the anti-dilution provisions of the Omnibus Plan.
(2)
Calculated based on 409,101 shares subject to outstanding Awards issued under the Omnibus
Plan at exercise prices ranging from $8.36 to $20.94 per share, and the remaining 1,590,899
shares at a price per share calculated on the basis of the closing sales price per share, as
reported on NASDAQ National Market on March 31, 2005, of $20.19, all in accordance with Rule
457(h) promulgated under the Securities Act of 1933, as amended.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information
Not required to be filed with this Registration Statement.
Item 2. Registrant Information and Employee Plan Annual Information
Not required to be filed with this Registration Statement.
- 1 -
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
Tarragon Corporation (the "Registrant" or "Tarragon" or the "Company" or "we") incorporates by
reference the following documents which we have previously filed with the Securities and Exchange
Commission (File No. 000-22999):
1.
Tarragon Corporation's Annual Report on Form 10-K (File No. 000-22999)
for the fiscal year ended December 31, 2004 filed on March 16, 2005.
2.
Tarragon Corporation's Annual Report to Stockholders.
3.
All other reports filed pursuant to Sections 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended since the end of the fiscal year
covered by the document referred to in (1) above.
4.
Description of Tarragon's common stock set forth in a Registration
Statement on Form 8-B filed on August 20, 1997 (File No. 000-22999) as updated
by Registration Statement on Form S-3 No. 333-121258 effective January 24, 2005
under the caption "Description of Capital Stock – Common Stock."
All documents which we subsequently file pursuant to Sections 13(a), 13(c), 14 and 15(d) of
the Securities Exchange Act of 1934 prior to the filing of a post-effective amendment to this
Registration Statement, which indicate that all of the shares of Common Stock offered have been
sold, or which de-registers all of such shares then remaining unsold, shall be deemed to be
incorporated by reference in this Registration Statement and to be part hereof from the date of
filing of such documents.
Any statement contained in any document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this Registration Statement to
the extent that a statement contained herein or in any other subsequently-filed document which also
is incorporated or deemed to be incorporated by reference herein modifies or supercedes such
statement. Any statement so modified or superceded shall not be deemed, except as so modified or
superceded, to constitute a part of this Registration Statement.
Item 4. Description of Securities
Not applicable.
Item 5. Interest of Named Experts and Counsel
Not applicable.
Item 6. Indemnification of Directors and Officers
Tarragon's Articles of Incorporation provide that it "shall indemnify to the fullest extent
authorized or permitted by law . . . any person made or threatened to be made a party or witness to
any action, suit or proceeding (whether civil, criminal or otherwise) by reason of the fact that
such person is or was a director, officer, employee or agent" of Tarragon. Further, Tarragon's
Bylaws provide that "[e]ach officer director or employee . . . shall be indemnified . . . to the
full extent permitted under Chapter 78 of the Nevada Revised Statutes . . . and other applicable
law."
Pursuant to the Nevada Revised Statutes, a corporation may indemnify persons for expenses
related to an action, suit or proceeding, except an action by or in the right of the corporation,
by reason of the fact that such person is or was
- 2 -
a director, officer, employee or agent, if such
person acted in good faith and in a manner which he reasonably believed to be in or not opposed to
the best interests of the corporation, and, with respect to any criminal action or proceeding, if
such person had no reasonable cause to believe his conduct was unlawful. The expenses indemnified
against in this provision include attorneys' fees, judgments, fines and amounts paid in settlement
actually and reasonably incurred in connection with the action, suit or proceeding. The Nevada
Revised Statutes further provide that a corporation may indemnify persons for attorneys' fees
related to an action, suit or proceeding by or in the right of the corporation to procure a
judgment in its favor by reason of the fact that such person is or was a director, officer,
employee or agent, if such person acted in good faith and in a manner which he reasonably believed
to be in or not opposed to the best interests of the corporation. A corporation may also indemnify
directors for amounts paid in judgments and settlements in such a suit, but only if ordered by a
court after determining that the person is "fairly and reasonably" entitled to indemnity.
Under the Management Liability Provision of Tarragon's Articles of Incorporation, directors do
not have personal liability to Tarragon or to its stockholders for monetary damages for any breach
of their fiduciary duties as directors (including, without limitation, any liability for gross
negligence in the performance of their duties), except
•
for acts or omissions which involve intentional misconduct, fraud or a
knowing violation of law or
•
for the payment of dividends in violation of NRS 78.300.
By precluding personal liability for certain breaches of fiduciary duty, including grossly
negligent business decisions made in connection with evaluating takeover proposals to acquire
Tarragon, the Management Liability Provision supplements indemnification rights afforded under
Tarragon's Articles of Incorporation and Bylaws which provide, in substance, that Tarragon shall
indemnify its directors, officers, employees and agents to the fullest extent permitted by the
Nevada Revised Statutes and other applicable laws.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling Tarragon under the foregoing provisions, we
have been advised that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable. In the event that a claim for
indemnification against such liabilities (other than for the payment by Tarragon of expenses
incurred or paid by a director, officer or controlling person in the successful defense of any
action, suit or proceeding) is asserted against Tarragon by any director, officer or controlling
person in connection with the securities being registered, we will, unless in the opinion of our
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
The following are filed herewith as exhibits or are incorporated by reference as indicated
below.
Exhibit
Designation
Description
3.1
Articles of Incorporation of Tarragon Corporation filed with and
approved by the Secretary of State of Nevada on April 2, 1997
(incorporated by reference is made to Exhibit 3.2 to Form 8-K of
Tarragon Corporation for Event Reported July 10, 1997).
3.2
Bylaws of Tarragon Corporation as adopted April 3, 1997 (incorporation
by reference is made to Exhibit 3.3 to Form 8-K of Tarragon Corporation
for Event Reported July 10, 1997).
- 3 -
Exhibit
Designation
Description
3.3
Agreement and Plan of Merger of Vinland Property Corporation and
Tarragon Corporation dated July 24, 1997 (incorporation by reference is
made to Exhibit 3.4 to Form 8-K of Tarragon Corporation for Event
Reported July 10, 1997).
3.4
Articles of Merger of National Income Realty Corporation into Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on November 24, 1998 (incorporation by reference is made to
Exhibit 3.8 to Form 8-K Current Report for Event Occurring November 24,
1998 and to Exhibit 3.6 to Registration Statement No. 333-60527 on Form
S-4).
3.5
Certificate of Amendment to Articles of Incorporation of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on June 17, 2004 (incorporation by reference is made to Exhibit
3.10 to Form 8-K Current Report for Event occurring June 14, 2004).
4.2
Certificate of Designation of Preferences and Relative Participating or
Optional or Other Special Rights and Qualifications, Limitations, or
Restrictions Thereof of 10% Cumulative Preferred Stock of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on May 1, 2000 (incorporation by reference is made to Exhibit 4.4
to Registrant's Registration Statement No. 333-31424 on Form S-4).
4.3
Indenture Agreement dated September 16, 2004, between Tarragon
Corporation and US Bank National Association, as Trustee (incorporation
by reference is made to Exhibit 4.1 to Form 10-Q for the quarter ended
September 30, 2004 of Tarragon Corporation).
5.1*
Opinion of Metzger & McDonald PLLC as to the legality of the securities.
5.2*
Opinion of Lionel, Sawyer & Collins as to the legality of the securities.
10.3
Tarragon Corporation Omnibus Plan approved by stockholders on June 14,
2004 (incorporation by reference is made to Exhibit 10.3 to Form 8-K
Current Report for Event occurring June 14, 2004).
23.1
Consent of Metzger & McDonald PLLC (included in Exhibit 5.1)
23.2
Consent of Lionel, Sawyer & Collins (included in Exhibit 5.2)
23.3*
Consent of Grant Thornton LLP
24.1
Power of Attorney (included on signature page)
*
Filed with this registration statement.
Item 9. Undertakings.
The undersigned Registrant hereby undertakes:
(a) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement;
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) To reflect in the prospectus any facts or events arising after
the effective date of this registration statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set
forth in this registration statement;
- 4 -
(iii) To include any material information with respect to the plan
of distribution not previously disclosed in this registration
statement or any material change to such information in this
registration statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed by Tarragon pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference
in the registration statement.
(b) That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a new registration
statement to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the initial bona fide offering thereof.
(c) To remove from the registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.
The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of our annual report pursuant to Section 13(a) or
Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in this registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such
securities at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling Tarragon under the foregoing provisions, we
have been advised that in the opinion of the SEC such indemnification is against public policy as
expressed in the Securities Act and is therefore unenforceable. In the event that a claim for
indemnification against such liabilities (other than for the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of our
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, Tarragon certifies that it has
reasonable grounds to believe that it meets all of the requirements for filing a Form S-8 and has
duly caused this Registration Statement or amendment thereto to be signed on its behalf by the
undersigned, thereunto duly authorized, in New York, New York, on March 31, 2005.
TARRAGON CORPORATION
By:
/s/ William S. Friedman
William S. Friedman
Chief Executive Officer and Director
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS that each person whose signature appears below on this
registration statement constitutes and appoints each of William S. Friedman and Erin D. Pickens his
true and lawful attorney-in-fact and agent, with full power of substitution and re-substitution for
him or her and in his or her name, place and stead, in any and all capacities (until revoked in
writing) to sign any and all amendments (including post-effective amendments thereto) to this
registration statement of Tarragon Corporation and to file same, with all exhibits thereto, and
other documents in connection therewith with the Securities and Exchange Commission, granting unto
each said attorney-in-fact and agents, or any of them, or their or his or her substitute or
substitutes full power and authority to do and perform each and every act and thing requisite and
necessary to be done, as fully to all intents and purposes as he might or could do in person hereby
ratifying and confirming all that said attorney-in-fact and agent or his substitute or substitutes
may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement or
amendment thereto has been signed below by the following persons in the capacities and on the date
indicated.
Signature
Title
Date
/s/ William S. Friedman
Chief Executive Officer and Chairman of the Board of
March 31, 2005
William S. Friedman
Directors (Principal Executive Officer
/s/ Erid D. Pickens
Executive Vice President and Chief Financial Officer
March 31, 2005
Erin D. Pickens
(Principal Financial and Accounting Officer)
/s/ Willie K. Davis
Director
March 31, 2005
Willie K. Davis
/s/ Richard Frary
Director
March 31, 2005
Richard Frary
/s/ Lance Liebman
Director
March 31, 2005
Lance Liebman
/s/ Robert C. Rohdie
Director
March 31, 2005
Robert C. Rohdie
/s/ Robert P. Rothenberg
Director
March 31, 2005
Robert P. Rothenberg
/s/ Lawrence G. Schafran
Director
March 31, 2005
Lawrence G. Schafran
/s/ Raymond V.J. Schrag
Director
March 31, 2005
Raymond V.J. Schrag
/s/ Carl B. Weisbrod
Director
March 31, 2005
Carl B. Weisbrod
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INDEX TO EXHIBITS
Exhibit
Designation
Description
3.1
Articles of Incorporation of Tarragon Corporation filed with and
approved by the Secretary of State of Nevada on April 2, 1997
(incorporated by reference is made to Exhibit 3.2 to Form 8-K of
Tarragon Corporation for Event Reported July 10, 1997).
3.2
Bylaws of Tarragon Corporation as adopted April 3, 1997 (incorporation
by reference is made to Exhibit 3.3 to Form 8-K of Tarragon Corporation
for Event Reported July 10, 1997).
3.3
Agreement and Plan of Merger of Vinland Property Corporation and
Tarragon Corporation dated July 24, 1997 (incorporation by reference is
made to Exhibit 3.4 to Form 8-K of Tarragon Corporation for Event
Reported July 10, 1997).
3.4
Articles of Merger of National Income Realty Corporation into Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on November 24, 1998 (incorporation by reference is made to
Exhibit 3.8 to Form 8-K Current Report for Event Occurring November 24,
1998 and to Exhibit 3.6 to Registration Statement No. 333-60527 on Form
S-4).
3.5
Certificate of Amendment to Articles of Incorporation of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on June 17, 2004 (incorporation by reference is made to Exhibit
3.10 to Form 8-K Current Report for Event occurring June 14, 2004).
4.2
Certificate of Designation of Preferences and Relative Participating or
Optional or Other Special Rights and Qualifications, Limitations, or
Restrictions Thereof of 10% Cumulative Preferred Stock of Tarragon
Corporation as filed with and approved by the Secretary of State of
Nevada on May 1, 2000 (incorporation by reference is made to Exhibit 4.4
to Registrant's Registration Statement No. 333-31424 on Form S-4).
4.3
Indenture Agreement dated September 16, 2004, between Tarragon
Corporation and US Bank National Association, as Trustee (incorporation
by reference is made to Exhibit 4.1 to Form 10-Q for the quarter ended
September 30, 2004 of Tarragon Corporation).
5.1*
Opinion of Metzger & McDonald PLLC as to the legality of the securities.
5.2*
Opinion of Lionel, Sawyer & Collins as to the legality of the securities.
10.3
Tarragon Corporation Omnibus Plan approved by stockholders on June 14,
2004 (incorporation by reference is made to Exhibit 10.3 to Form 8-K
Current Report for Event occurring June 14, 2004).
23.1
Consent of Metzger & McDonald PLLC (included in Exhibit 5.1)
23.2
Consent of Lionel, Sawyer & Collins (included in Exhibit 5.2)
23.3*
Consent of Grant Thornton LLP
24.1
Power of Attorney (set forth on signature page)
*
Filed herewith.
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