Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 324

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 324
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 Responsibilities of the General Partner

Our directors and officers
will have duties under applicable Maryland law to manage us in a manner consistent with the best interests of our stockholders. At the
same time, we, as the general partner of our Operating Partnership, will have fiduciary duties to manage our Operating Partnership in
a manner beneficial to our Operating Partnership and its partners. Our duties, as general partner to our Operating Partnership and its
limited partners, therefore, may come into conflict with the duties of our directors and officers to our stockholders. In the event that
a conflict of interest exists between the interests of our stockholders, on the one hand, and our Operating Partnership’s limited
partners, on the other, we will endeavor in good faith to resolve the conflict in a manner not adverse to either our stockholders or
such limited partners. However, any such conflict that we determine cannot be resolved in a manner not adverse to either our stockholders
or such limited partners shall be resolved in favor of our stockholders. The limited partners of our Operating Partnership will acknowledge
expressly that in the event of such a determination by us, as the general partner of our Operating Partnership, we will not be liable
to such limited partners for losses sustained or benefits not realized in connection with, or as a result of, such a determination.

Distributions; Allocations of Profits and Losses

Our partnership agreement
provides that our Operating Partnership will distribute cash from operations at times and in amounts determined by us, as the sole general
partner of our Operating Partnership, in our sole discretion, to the partners, in accordance with their respective percentage interests
in our Operating Partnership. We will cause our Operating Partnership to distribute annually to us amounts sufficient to allow us to
satisfy the annual distribution requirements necessary for us to maintain our qualification as a REIT, currently 90%, of our REIT taxable
income (determined without regard to the deduction for dividends paid and excluding net capital gains). We generally intend to cause
our Operating Partnership to distribute annually to us an amount equal to at least 100% of our taxable income, which we will then distribute
to our stockholders. To the extent that we distribute at least 90% our REIT taxable income (determined without regard to the deduction
for dividends paid and excluding net capital gains), but less than 100% of our taxable income, we will be subject to U.S. federal income
tax on such undistributed amount.

Upon liquidation of our