Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1549

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1549
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 hereto agree that any terms, conditions or provisions contained in such side letters or similar written agreements with a Limited Partner shall govern with respect to such Limited Partner notwithstanding the provisions of this Agreement.

Section 15.12. .

The Partners acknowledge and agree that Winston & Strawn LLP has only represented the Adviser and the Company in connection with this Agreement and the other transactions related hereto (the “”). Each Limited Partner, other than the Company, is relying solely on his or its own tax and legal advisors, and not Winston & Strawn LLP, with respect to the tax and other legal aspects of his, her or its investment in the Partnership. Further, except for Winston & Strawn LLP’s representation of the Adviser and the Company with respect to the Transactions, or as may otherwise expressly be agreed in writing by Winston & Strawn LLP, in no event shall an attorney-client relationship exist between Winston & Strawn LLP on the one hand and any other Limited Partner and/or their Affiliates, on the other hand. The Limited Partners further agree and consent that Winston & Strawn LLP shall be permitted to render legal advice and to provide legal services to any Limited Partner or the Partnership from time to time, and each Limited Partner covenants and agrees that such representation of a Limited Partner or the Partnership by such firm from time to time shall not disqualify such firm from providing legal advice and legal services to their respective client Limited Partners or Affiliates in matters related or unrelated to this Agreement.

<div align='center'>[Signature Page Follows.]

70

I-1213</div>

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

| GENERAL PARTNER:                                                                                                                        |                                           |
| NEXPOINT SFR OP GP, LLC                                                                                                                 |                                           |
| By:                                                                                                                                     | /s/ Brian Mitts                           |
|                                                                                                                                         | Name: Brian Mitts                         |
|                                                                                                                                         | Title: President, Secretary and Treasurer |
| LIMITED PARTNERS:                                                                                                                       |                                           |
| All Limited Partners now and hereafter admitted, pursuant to powers of attorney granted to the General Partner by each Limited Partner. |                                           |
| NEXPOINT SFR OP GP, LLC                                                                                                                 |                                           |
| By:                                                                                                                                     | /s/ Brian Mitts                           |
|                                                                                                                                         | Name: Brian Mitts                         |
|                                                                                                                                         | Title: President, Secretary and Treasurer |
| As attorney-in-fact for the Limited Partners.