Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 782

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 782
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| Section 15.6. Creditors.                                                                         | 69 |
| Section 15.7. Waiver.                                                                            | 69 |
| Section 15.8. Counterparts.                                                                      | 69 |
| Section 15.9. Applicable Law; Consent to Jurisdiction; Waiver of Jury Trial.                     | 69 |
| Section 15.10. Invalidity of Provisions.                                                         | 70 |
| Section 15.11. Entire Agreement.                                                                 | 70 |
| Section 15.12. Legal Counsel Relationships.                                                      | 71 |

<div align='center'>iii

I-533

(continued)</div>

| Exhibit A - Capital Account Maintenance                                                                   | A-1       |
| Exhibit B - Special Allocation Rules                                                                      | B-1       |
| Exhibit C - Notice of Redemption                                                                          | C-1       |
| Exhibit D - Constructive Ownership Definition                                                             | D-1       |
| Exhibit E - Schedule of Partner’s Ownership with Respect to Tenants                                       | E-1       |
| Exhibit F - Notice of Election by Partner to Convert LTIP Units into Class C Common Units                 | F-1       |
| Exhibit G - Notice of Election by Partnership to Force Conversion of LTIP Units into Class C Common Units | G-1       |
| Annex A - Designation of Classes of Common Units                                                          | Annex A-1 |
| Annex B - Designation of the Series A Preferred Units                                                     | Annex B-1 |

<div align='center'>iv

I-534

SECOND
AMENDED AND RESTATED
LIMITED PARTNERSHIP AGREEMENT
OF
VINEBROOK HOMES OPERATING PARTNERSHIP, L.P.</div>

THIS SECOND AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT (as now or hereafter amended, restated, modified, supplemented, or replaced, this “”) of VineBrook Homes Operating Partnership, L.P. (the “”), dated as of September 7, 2021, is entered into by and among VineBrook Homes OP GP, LLC, a Delaware limited liability company (the “”) and the Persons who are admitted from time to time as limited partners in accordance with this Agreement and who have not subsequently withdrawn (the “”), such persons being identified on the books and records of the Partnership.

WHEREAS, the Partnership was formed on and the original agreement of limited partnership of the Partnership was dated as of July 12, 2018 (the