Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 297

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 297
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 family member thereof (collectively, an “Ownership Group”),             
 owned sufficient interests in the Operating Partnership such that the exercise by all or any members of such Ownership Group of the       
 Common Unit Redemption Right (as defined in Section 8.04(a) of the Second Amended and Restated Agreement of Limited Partnership           
 of the Operating Partnership, as amended) with respect to such interests would result in all or any members of such Ownership Group       
 (individually or collectively) becoming the direct or indirect beneficial owner of our common equity representing more than 50% of        
 the total voting power of all outstanding shares of Voting Stock;                                                                         |

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| · | consummation of any share                                                                                                                    
 exchange, consolidation or merger of our company or any other transaction or series of transactions pursuant to which our common             
 stock will be converted into cash, securities or other property, (1) other than any such transaction where the shares of our                 
 common stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of             
 the common stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving           
 effect to such transaction, and (2) expressly excluding any such transaction preceded by our company’s acquisition of                        
 the capital stock of another company for cash, securities or other property, whether directly or indirectly through one of our subsidiaries, 
 as a precursor to such transaction; or                                                                                                       |

| · | Continuing Directors cease to constitute at least a 
 majority of our board of directors.                 |

For purposes of the Series B
Redeemable Preferred Stock, “Continuing Director” means a director who either was a member of our board of directors on October 6,
2022 or becomes a member of our board of directors subsequent to that date and whose appointment, election or nomination for election
by our stockholders was duly approved by a majority of the Continuing Directors on our board of directors at the time of such approval,
either by a specific vote or by approval of the proxy statement issued by our company on behalf of our board of directors in which such
individual is named as nominee for director.

Series B Safeguard Policy.Our board of directors has adopted the Series B Redeemable Preferred Stock Redemption Safeguard Policy
(the “Series B Safeguard Policy”) with respect to our Series B Redeemable Preferred Stock. The Series B
Safeguard Policy is applicable in the event of any redemption of shares of Series B Redeemable