Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 301

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 301
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 not be permitted to exercise its redemption right for
less than 1,000 OP Units (unless such limited partner holds less than 1,000 OP Units, in which case, it must exercise its redemption right
for all of its OP Units). In the event a limited partner of our Operating Partnership exercises its redemption rights, and we elect to
redeem the OP Units by the issuance of shares of our common stock, we expect to issue unregistered shares, or shares that will be registered
after completion of our first underwritten public offering, if any, in connection with any such redemption transaction.

Exculpation and Indemnification of the General Partner

The partnership agreement
provides for the indemnification of us as the general partner, and of our officers, directors and employees and any other persons we may
designate from and against any and all claims that relate to the operations of our Operating Partnership as set forth in the partnership
agreement in which any such indemnitee may be involved, or is threatened to be involved, as a party or otherwise, unless it is established
that:

| · | the act or omission of the indemnitee was material to the matter giving rise to the proceeding and either was committed in bad faith or was the result of active and deliberate dishonesty; |

| · | the indemnitee actually received an improper personal benefit in money, property or services; or |

| · | in the case of any criminal proceeding, the indemnitee had reasonable cause to believe that the act or omission was unlawful. |

Similarly, the partnership
agreement provides that we are not liable to our Operating Partnership or any partner for monetary damages for losses sustained or liabilities
incurred as a result of errors in judgment or mistakes of fact or law or of any act or omission if any such party acted in good faith.

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In addition, the partnership
agreement provides that any such indemnification of any such indemnitee shall be made only out of the assets of our Operating Partnership.
Our Operating Partnership must also pay or reimburse the reasonable expenses of any such indemnitee in advance of a final disposition
of the proceeding upon its receipt of a written affirmation by the indemnitee of the indemnitee’s good faith belief that the standard
of conduct necessary for indemnification has been met and a written undertaking by or on behalf of the indemnitee to repay any amounts
paid or advanced if it is ultimately determined that the indemnitee did