Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 229

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 229
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 without limitation, the costs and expenses of acquiring, owning, protecting, maintaining, developing and disposing of investments, including appraisal, reporting, audit and legal fees; |

| · | expenses relating to any office(s) or office facilities, including, but not limited to, disaster backup recovery sites and facilities, maintained for us or our investments separate from the office or offices of our Manager; |

| · | expenses connected with the payments of interest, dividends or distributions in cash or any other form authorized or caused to be made by the board of directors to or on account of holders of our securities or of our subsidiaries, including, without limitation, in connection with any future distribution reinvestment plan; |

| · | any judgment or settlement of pending or threatened proceedings (whether civil, criminal or otherwise) against us or any subsidiary, or against any trustee, director, partner, member or officer of us or of any subsidiary in his capacity as such for which we or any subsidiary is required to indemnify such trustee, director, partner, member or officer pursuant to the applicable governing document or other instrument or agreement, or by any court or governmental agency; and |

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| · | all other expenses actually incurred by our Manager (except as described below) which are reasonably necessary for the performance by our Manager of its duties and functions under the Management Agreement. |

In addition, we may be required
to pay our pro rata portion of rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead
expenses of our Manager and its affiliates required for our operations, provided that such expenses are in amounts no greater than those
that would be payable to third-party professionals or consultants engaged to perform such services pursuant to agreements negotiated on
an arm’s-length basis, and excepting only those expenses that are specifically the responsibility of our Manager.

Except with respect to the
costs of legal, tax, accounting, consulting, auditing and other similar services rendered for us, which costs will be our expense, our
Manager will be responsible for the expenses related to any and all personnel of our Manager and its affiliates who provide services to
us pursuant to the Management Agreement, including, without limitation, salaries, bonus and other wages, payroll taxes and the cost of
employee benefit plans of such personnel, and costs of insurance with respect to such personnel; provided, however, that our Manager
will not be responsible for any such expenses payable subsequent to the Distribution Date to the extent (and only to such