Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 78

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 78
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 paid a termination fee equal to 3.00 times the sum of the Base Management Fee and Incentive Fee earned, in each case,
by our Manager during the 12-month period immediately preceding such non-renewal, calculated as of the end of the most recently completed
fiscal quarter before the date of non-renewal. These provisions may substantially restrict our ability to not to renew the Management
Agreement and would cause us to incur substantial costs in connection with such a non-renewal. Furthermore, in the event that our Management
Agreement is not renewed, and we are unable to identify a suitable replacement to manage us, our ability to execute our business plan
could be adversely affected.

Because we will be dependent upon our Manager and its affiliates to conduct our operations, any adverse changes in the financial health of our Manager or its affiliates or our relationship with them could hinder our operating performance and the return on your investment.

We will be dependent on our
Manager and its affiliates to manage our operations and acquire and manage our portfolio of real estate assets. Under the direction of
our board of directors, and subject to our investment guidelines, our Manager will make all decisions with respect to the management of
our company. Our Manager will depend upon the fees and other compensation that it receives from us in connection with managing our company
to conduct its operations. Any adverse changes in the financial condition of our Manager or its affiliates, or our relationship with our
Manager, could hinder its ability to successfully manage our operations and our portfolio of investments, which would adversely affect
us and our stockholders.

Our board of directors will approve very broad investment guidelines for our Manager and will not approve each investment and financing decision made by our Manager unless required by our investment guidelines.

Our Manager will be authorized
to follow very broad investment guidelines established by our board of directors. Our board of directors will periodically review our
investment guidelines and our portfolio of assets but will not, and will not be required to, review all of our proposed investments, except
in limited circumstances as set forth in our investment guidelines. In addition, in conducting periodic reviews, our board of directors
may rely primarily on information provided to it by our Manager. Furthermore, transactions entered into by our Manager may be costly,
difficult or impossible to unwind by the time they are reviewed by our board of directors. Our Manager will have great latitude within
the broad parameters of our investment guidelines in determining the types and amounts of assets in which to invest on our behalf, including
making