Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 280

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 280
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 or rights on our liquidation, winding-up or dissolution, and options, warrants or rights to purchase such shares), directly or indirectly, on or with respect to any shares of our common stock or any class or series of our stock ranking junior to or on parity with the Series B Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period; or |

| · | except by conversion into or exchange for shares of stock ranking junior to the Series B Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution, or options, warrants or rights to purchase such shares, redeem, purchase or otherwise acquire (other than a redemption, purchase or other acquisition of common stock made for purposes of an employee incentive or benefit plan) for any consideration, or pay or make available any monies for a sinking fund for the redemption of, any common stock or any class or series of our stock ranking junior to or on parity with the Series B Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution. |

To the extent necessary to
preserve our status as a REIT, the foregoing sentence, however, will not prohibit declaring or paying or setting apart for payment any
dividend or other distribution on our common stock or any class or series of our stock ranking junior to or on parity with the Series B
Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period.

Holders of shares of our Series B
Redeemable Preferred Stock are not eligible to participate in any future distribution reinvestment plan for the company’s common
stock.

Redemption at Option of Holders. Holders will have the right to require the company to redeem shares of Series B Redeemable Preferred Stock at a redemption
price equal to the Stated Value, initially $25.00 per share, less a redemption fee, plus an amount equal to any accrued but unpaid cash
dividends.

The redemption fee will be
equal to:

| · | Beginning on the date of original issuance of the shares to be redeemed: 12% |

| · | Beginning one year from the date of original issuance of the shares to be redeemed: 9% |

| · | Beginning two years from the date of original issuance of the shares to be redeemed: 6% |

| · | Beginning three years from the date of original issuance of the shares to be redeemed: