Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 320

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 320
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ertain Second Amended and Restated Agreement of Limited Partnership of the Operating Partnership (the “partnership agreement”).
Pursuant to the partnership agreement, we are the sole general partner of the Operating Partnership.

As the sole general partner
of our Operating Partnership, we have full, exclusive and complete responsibility and discretion in the management and control of our
Operating Partnership, including the ability to cause our Operating Partnership to enter into certain major transactions, including acquisitions,
dispositions, and refinancings, select tenants for our properties, enter into leases for our properties, make distributions to partners,
and cause changes in our Operating Partnership’s business activities.

As ofSeptember30, 2025,limited partners other than us owned approximately 69.30%
of our Operating Partnership. The limited partners of our Operating Partnership have no authority in their capacity as limited partners
to transact business for, or participate in the management activities or decisions of, our Operating Partnership except as required by
applicable law. Consequently, we, by virtue of our position as the sole general partner, control the assets and business of our Operating
Partnership.

In the partnership agreement,
the limited partners of our Operating Partnership expressly acknowledge that we, as general partner, are acting for the benefit of our
Operating Partnership, the limited partners and our stockholders, collectively. Except as further described below, neither we nor our
board of directors are under any obligation to give priority to the separate interests of the limited partners in deciding whether to
cause our Operating Partnership to take or decline to take any actions. In particular, we are under no obligation to consider any tax
consequences to limited partners when making decisions for the benefit of our Operating Partnership. If there is a conflict between the
interests of our stockholders, on the one hand, and the interests of the limited partners, on the other, we endeavor in good faith to
resolve the conflict in a manner not adverse to either our stockholders or the limited partners; provided, however, that for so long
as we own a controlling interest in our Operating Partnership, we agree to resolve any conflict that cannot be resolved in a manner not
adverse to either our stockholders or the limited partners in favor of our stockholders. We are not liable under the partnership agreement
to our Operating Partnership or to any limited partner for monetary damages for losses sustained, liabilities incurred, or benefits not
derived by limited partners in connection with such decisions so long as we have acted in good faith.

Organization and Capital Contributions