Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 279

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 279
---
 an “Additional Series B Dividend”). Each Additional Series B Dividend will be payable
on the Series B Dividend Payment Date immediately following the applicable Series B Dividend Period. For the avoidance of doubt,
any Additional Series B Dividend may vary among holders of Series B Redeemable Preferred Stock and may be prorated with respect
to any shares of Series B Redeemable Preferred Stock that were outstanding less than the total number of days in the Series B
Dividend Period immediately preceding the applicable Series B Dividend Payment Date, with the amount of any such prorated dividend
being computed on the basis of the actual number of days in such Series B Dividend Period during which such shares of Series B
Redeemable Preferred Stock were outstanding. Each Additional Series B Dividend will be payable to holders of record of the Series B
Redeemable Preferred Stock as they appear in our stock records at the close of business on the Series B Dividend Record Date for
the applicable Series B Dividend Period.

<div align='center'>134</div>

The timing and amount of dividends
on the Series B Redeemable Preferred Stock will be determined by our board of directors, in its sole discretion, and may vary from
time to time. All such dividends will accrue and be paid on the basis of a 360-day year consisting of twelve 30-day months. Dividends
on the Series B Redeemable Preferred Stock will accrue whether or not (i) we have earnings, (ii) there are funds legally
available for the payment of such dividends and (iii) such dividends are authorized by our board of directors or declared by us.
Accrued dividends on the Series B Redeemable Preferred Stock will not bear interest.

Holders of shares of our Series B
Redeemable Preferred Stock are not entitled to any dividend in excess of full dividends on shares of our Series B Redeemable Preferred
Stock. Unless full dividends on shares of our Series B Redeemable Preferred Stock and Series A Redeemable Preferred Stock for
all past dividend periods have been or contemporaneously are declared and paid or declared and a sum sufficient for the payment thereof
in full is set apart for payment, we will not:

| · | declare and pay or declare and set apart for payment dividends or declare and make any other distribution of cash or other property (other than dividends or distributions paid in shares of stock ranking junior to the Series B Redeemable Preferred Stock as to the dividend rights