Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 264

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 264
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 of that capital stock expressly provide that it ranks senior to, or on parity with, the Series A Redeemable Preferred Stock;              |

| · | on                                                                                                                                       
 parity with any class or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series A 
 Redeemable Preferred Stock, including the Series B Redeemable Preferred Stock; and                                                       |

| · | junior                                                                                                                                           
 to any other class or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series A                 
 Redeemable Preferred Stock, none of which exists on the date hereof, and subject to payment of or provision for our debts and other liabilities. |

Investors in the Series A
Redeemable Preferred Stock should note that holders of our Series A Redeemable Preferred Stock do not have a right to receive a
return of capital prior to holders of our common stock upon the individual sale of a property.

Stated Value. Each
share of Series A Redeemable Preferred Stock has an initial “Stated Value” of $25.00, subject to appropriate adjustment
in relation to certain events as set forth in the Series A Articles Supplementary.

Dividends. Subject
to the preferential rights of the holders of any class or series of our capital stock ranking senior to our Series A Redeemable
Preferred Stock, if any such class or series is authorized in the future, the holders of Series A Redeemable Preferred Stock are
entitled to receive, when and as authorized by our board of directors and declared by us out of legally available funds, cumulative cash
dividends on each share of Series A Redeemable Preferred Stock at an annual rate of 6.0% of the Stated Value (each, a “Series A
Regular Dividend”). In addition, for each month for which the board of directors authorizes a Series A Regular Dividend, holders
of shares of the Series A Redeemable Preferred Stock will be entitled to receive an enhanced special dividend, which will be aggregated
with the Series A Regular Dividend so as to effect a dividend rate of the average one month Term Secured Overnight Financing Rate
(“SOFR”) plus 2.0%, subject to a 6.5% minimum and 8.5% maximum annual rate, calculated and paid monthly(each, a “Series A
Enhanced Dividend,” and together with the Series A Regular Dividend, a “Series A