Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 319

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 319
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 on his or her behalf to repay the amount paid or reimbursed if it is ultimately determined that the standard of conduct
was not met.

Our charter requires us to
indemnify and, without requiring a preliminary determination of the ultimate entitlement to indemnification, pay or reimburse reasonable
expenses in advance of final disposition of a proceeding to our directors and our officers (including any director or officer who is
or was serving at the request of our company as a director, officer, partner, member, manager or trustee of another corporation, real
estate investment trust, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise) and
to any external manager acting as an agent of the company. In addition, our charter permits us, with the approval of our board of directors,
to provide such indemnification and advancement of expenses to any individual who served a predecessor of us in any of the capacities
described above and to any employee or agent of us or a predecessor of us.

However, the SEC takes the
position that indemnification against liabilities arising under the Securities Act is against public policy and unenforceable.

We have entered into indemnification
agreements with our current directors and executive officers that provide for indemnification to the maximum extent permitted by Maryland
law.

<div align='center'>194

THE OPERATING PARTNERSHIP AGREEMENT</div>

A summary of the material terms and provisions of the Second Amended and Restated Agreement of Limited Partnership of the Operating Partnership, which we refer to as the “partnership agreement,” is set forth below. The following summary does not purport to be complete and is subject to and qualified in its entirety by reference to Maryland law and the partnership agreement. For more detail, please refer to the partnership agreement itself, a copy of which will be filed as an exhibit to the registration statement on Form S-11 of which this prospectus is a part. For purposes of this section, references to “we,” “our,” “us,” “our company” and the “general partner” refer to Bluerock Homes Trust, Inc., in our capacity as the general partner of our Operating Partnership. See the section entitled “Additional Information.”

General

Our Operating Partnership
was formed as a Delaware limited partnership on August 8, 2008. Substantially all of our assets are held by, and substantially all
of our operations are conducted through, our Operating Partnership. We, as general partner, and the limited partners entered into that
c