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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
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        to Section 13 or 15(d) of The Securities Exchange Act of 1934
</strong></font></div>
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        21, 2006</strong></font></div>
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        of Report (Date of earliest event reported) </strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">___________________________</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                  or other jurisdiction </strong></font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><strong>of
                  incorporation)</strong></font></div>
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                  Employer </strong></font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><strong>Identification
                  No.)</strong></font></div>
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        Northwest 107</strong></font><font style="DISPLAY: inline; FONT-SIZE: 6pt; FONT-FAMILY: Times New Roman, serif"><sup><strong>th</strong></sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
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        559-4000 </strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Check
        the appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions: </strong></font></div>
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        Written communications pursuant to Rule 425 under the Securities Act (17
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        Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
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        Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
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        (17 CFR 240.14d-2(b)) </strong></font></div>
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        Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
        Act
        (17 CFR 240.13e-4(c)) </strong></font></div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">1</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        2.03.</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Creation
        of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet
        Arrangement of a Registrant. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        July
        21, 2006, Lennar Corporation entered into a Credit Agreement with JPMorgan
        Chase
        Bank, N.A., as administrative agent, and the lenders named in the Credit
        Agreement, which is included as an exhibit to this Current Report on Form
        8-K.
        The description of the Credit Agreement provided below is qualified in its
        entirety by reference to the full and complete terms contained in the Credit
        Agreement. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Credit Agreement replaces the&#160;Company's prior credit agreement,
        dated&#160;June 17, 2005, by and among Lennar Corporation, JPMorgan Chase Bank,
        certain parties to the new Credit Agreement and certain other
        parties.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The&#160;Credit
        Agreement is a senior unsecured revolving credit facility that provides&#160;the
        Company&#160;with up to $2.7 billion of financing. This credit facility also
        provides&#160;the Company&#160;with access to an additional $500 million&#160;of
        financing through an accordion feature, subject to additional commitments,
        for a
        maximum aggregate commitment under the facility of $3.2 billion. The Credit
        Agreement expires in July 2011.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amounts
        borrowed under the Credit Agreement are guaranteed on a joint and several
        basis
        by substantially all of&#160;the Company's&#160;wholly-owned subsidiaries, other
        than finance company subsidiaries (which include mortgage and title insurance
        subsidiaries). A form of the guaranty is included as Exhibit E to the Credit
        Agreement.&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interest
        rates on outstanding borrowings are determined by reference to LIBOR, with
        margins determined based on changes in&#160;the Company's&#160;credit ratings,
        or to an alternate base rate, as described in the Credit Agreement.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font size="2">The
        Company&#160;generally uses amounts available
        under&#160;the credit facility as a back stop to&#160;its commercial paper
        program and also to meet short-term financing needs, including financing
        for
        land acquisition and development activities, construction activities and
        general
        operating needs.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font size="2">On
        July 24, 2006, the Company issued a press release to
        announce its entering into the Credit Agreement. A copy of the press release
        is
        filed as Exhibit 99.1 to this Current Report on Form 8-K.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        9.01. Financial Statements and Exhibits. </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c)
        Exhibits. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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        following exhibits&#160;are furnished as part of this Current Report on Form
        8-K. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><strong><u><font size="2">Exhibit
                  No.</font></u></strong></td>
                <td align="left"><strong><u><font size="2">Description of
                  Document</font></u></strong></td>
              </tr>

          </table>
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        <div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;">&#160;</td>
                <td align="left">&#160;</td>
              </tr>

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        </div>
        <div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
                    Agreement, dated July 21, 2006, by and among Lennar
                    Corporation,&#160;JPMorgan Chase Bank, N.A., as administrative agent, and
                    the lenders named in the Credit
                    Agreement.</font></div>
                </td>
              </tr>

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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;">&#160;</td>
                <td align="left">&#160;</td>
              </tr>

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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><font size="2">99.1</font></td>
                <td align="left"><font size="2">Press release issued by Lennar
                  Corporation on
                  July 24, 2006.</font></td>
              </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES
        </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
        July 25, 2006</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
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            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>LENNAR
                CORPORATION</strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/&#160;Bruce
                E. Gross</u></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font size="2">Name:&#160;&#160; </font></td>
              <td><font size="2">Bruce E. Gross</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td><font size="2">Title: </font></td>
              <td><font size="2">Vice President and Chief Financial Officer</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td>&#160;</td>
              <td>&#160;</td>
              <td>&#160;</td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
        Index </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><strong><u><font size="2">Exhibit
                  No.</font></u></strong></td>
                <td align="left"><strong><u><font size="2">Description of
                  Document</font></u></strong></td>
              </tr>

          </table>
        </div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.1</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Credit
                    Agreement, dated July 21, 2006, by and among Lennar Corporation,
                    JPMorgan
                    Chase Bank, N.A., as administrative agent, and the lenders named
                    in the
                    Credit Agreement.</font></div>
                </td>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 72pt;"><font size="2">99.1</font></td>
                <td align="left"><font size="2">Press release issued by Lennar
                  Corporation on
                  July 24, 2006.</font></td>
              </tr>

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{"company-data": {"conformed-name": "LENNAR CORP /NEW/", "cik": "0000920760", "assigned-sic": "1520", "irs-number": "954337490", "state-of-incorporation": "DE", "fiscal-year-end": "1130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11749", "film-number": "06979195"}, "business-address": {"street1": "700 NW 107TH AVENUE", "street2": "SUITE 400", "city": "MIAMI", "state": "FL", "zip": "33172", "phone": "3055594000"}, "mail-address": {"street1": "700 NW 107TH AVENUE", "street2": "SUITE 400", "city": "MIAMI", "state": "FL", "zip": "33172"}, "former-company": {"former-conformed-name": "PACIFIC GREYSTONE CORP /DE/", "date-changed": "19940323"}}
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
___________________________
FORM
        8-K
___________________________
CURRENT
        REPORT
Pursuant
        to Section 13 or 15(d) of The Securities Exchange Act of 1934
July
        21, 2006
Date
        of Report (Date of earliest event reported)
___________________________
LENNAR
        CORPORATION
(Exact
        name of registrant as specified in its charter)
Delaware
1-11749
95-4337490
(State
                  or other jurisdiction
of
                  incorporation)
(Commission
                  File Number)
(IRS
                  Employer
Identification
                  No.)
700
        Northwest 107
th
Avenue, Miami, Florida 33172
(Address
        of principal executive offices) (Zip Code)
(305)
        559-4000
(Registrant's
        telephone number, including area code)
___________________________
Check
        the appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17
        CFR
        230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
        Act
        (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
        Act
        (17 CFR 240.13e-4(c))
1
Item
        2.03.
Creation
        of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet
        Arrangement of a Registrant.
On
        July
        21, 2006, Lennar Corporation entered into a Credit Agreement with JPMorgan
        Chase
        Bank, N.A., as administrative agent, and the lenders named in the Credit
        Agreement, which is included as an exhibit to this Current Report on Form
        8-K.
        The description of the Credit Agreement provided below is qualified in its
        entirety by reference to the full and complete terms contained in the Credit
        Agreement.
The
        Credit Agreement replaces the Company's prior credit agreement,
        dated June 17, 2005, by and among Lennar Corporation, JPMorgan Chase Bank,
        certain parties to the new Credit Agreement and certain other
        parties.
The Credit
        Agreement is a senior unsecured revolving credit facility that provides the
        Company with up to $2.7 billion of financing. This credit facility also
        provides the Company with access to an additional $500 million of
        financing through an accordion feature, subject to additional commitments,
        for a
        maximum aggregate commitment under the facility of $3.2 billion. The Credit
        Agreement expires in July 2011.
Amounts
        borrowed under the Credit Agreement are guaranteed on a joint and several
        basis
        by substantially all of the Company's wholly-owned subsidiaries, other
        than finance company subsidiaries (which include mortgage and title insurance
        subsidiaries). A form of the guaranty is included as Exhibit E to the Credit
        Agreement.
Interest
        rates on outstanding borrowings are determined by reference to LIBOR, with
        margins determined based on changes in the Company's credit ratings,
        or to an alternate base rate, as described in the Credit Agreement.
The
        Company generally uses amounts available
        under the credit facility as a back stop to its commercial paper
        program and also to meet short-term financing needs, including financing
        for
        land acquisition and development activities, construction activities and
        general
        operating needs.
On
        July 24, 2006, the Company issued a press release to
        announce its entering into the Credit Agreement. A copy of the press release
        is
        filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item
        9.01. Financial Statements and Exhibits.
(c)
        Exhibits.
The
        following exhibits are furnished as part of this Current Report on Form
        8-K.
Exhibit
                  No.
Description of
                  Document
10.1
Credit
                    Agreement, dated July 21, 2006, by and among Lennar
                    Corporation, JPMorgan Chase Bank, N.A., as administrative agent, and
                    the lenders named in the Credit
                    Agreement.
99.1
Press release issued by Lennar
                  Corporation on
                  July 24, 2006.
2
SIGNATURES
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.
Date:
        July 25, 2006
LENNAR
                CORPORATION
By:
/s/ Bruce
                E. Gross
Name:
Bruce E. Gross
Title:
Vice President and Chief Financial Officer
3
Exhibit
        Index
Exhibit
                  No.
Description of
                  Document
10.1
Credit
                    Agreement, dated July 21, 2006, by and among Lennar Corporation,
                    JPMorgan
                    Chase Bank, N.A., as administrative agent, and the lenders named
                    in the
                    Credit Agreement.
99.1
Press release issued by Lennar
                  Corporation on
                  July 24, 2006.
4