Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 266

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 266
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idends on the Series A 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 A Redeemable Preferred Stock will not bear interest.

Holders of shares of our
Series A Redeemable Preferred Stock are not entitled to any dividend in excess of full dividends on shares of our Series A
Redeemable Preferred Stock. Unless full dividends on shares of our 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 A Redeemable Preferred Stock as to the dividend          
 rights or rights on our liquidation, winding-up or dissolution, and options, warrants or rights to purchase such shares), directly or    
 indirectly, on or with respect to any shares of our common stock or any class or series of our stock ranking junior to or on parity with 
 the Series A Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for any period;    
 or                                                                                                                                       |

| · | except                                                                                                                                 
 by conversion into or exchange for shares of stock ranking junior to the Series A Redeemable Preferred Stock as to dividend rights     
 or rights on our liquidation, winding-up or dissolution, or options, warrants or rights to purchase such shares, redeem, purchase or   
 otherwise acquire (other than a redemption, purchase or other acquisition of common stock made for purposes of an employee incentive   
 or benefit plan) for any consideration, or pay or make available any monies for a sinking fund for the redemption of, any common stock 
 or any class or series of our stock ranking junior to or on parity with the Series A Redeemable Preferred Stock as to dividend rights  
 or rights on our liquidation, winding-up or dissolution.                                                                               |

To the extent necessary to
preserve our status as a REIT, the foregoing sentence, however, will not prohibit declaring or paying or setting apart for payment any
dividend or other distribution on our common stock or any class or series