Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 203

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 203
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 to be separated. However, our Corporate Governance Guidelines requires the appointment of a lead independent
director if the Chairman of the board of directors is not an independent director. Our lead independent director is I. Bobby Majumder.
The role of our lead independent director includes the following duties:

| · | call meetings of the independent directors, as needed; |

| · | develop the agendas for meetings of the independent 
 directors;                                          |

| · | preside at executive sessions of the independent directors; |

| · | confer regularly with the Chief Executive Officer; 
 and                                                |

| · | serve as a liaison between the Chief Executive Officer 
 and the independent directors.                         |

Director Independence

Under our Corporate Governance
Guidelines, a majority of the members of our board of directors, and all the members of our audit committee, compensation committee,
and nominating and corporate governance committee, must be “independent.” Our Corporate Governance Guidelines define an “independent”
director in accordance with the NYSE American Company Guide and under applicable law. In addition, audit and compensation committee members
are subject to the additional independence requirements of applicable SEC rules and NYSE American listing standards. Our Corporate
Governance Guidelines require our board of directors to review the independence of all directors at least annually. A director is not
independent unless our board of directors affirmatively determines that he or she does not have a material relationship with us (either
directly or as a partner, director, member, stockholder or officer of an organization that has a relationship with us).

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Board Role in Risk Oversight

While our Manager will be
responsible for the day-to-day management of risks faced by the company, our board of directors, as a whole and through its committees,
will have responsibility for the oversight of risk management. No less than quarterly, our entire board will review information regarding
the company’s liquidity, borrowings, operations, legal and regulatory compliance and actual and expected material developments
in our business, as well as the risks associated with each. In addition, each year the board of directors will review our investment
strategies and objectives and their continued viability, and each quarter the directors will review variances in major line items between
our current results and our budget from the prior quarter, review all significant changes to our projections for future periods and discuss
risks related to our property portfolio. The board of directors will also oversee risk management with respect to certain real estate
investments proposed by our Manager and