Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 318

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 318
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and deliberate dishonesty established by a final judgment and which is material to the cause of action. Our charter contains such a provision
eliminating such liability to the maximum extent permitted by Maryland law.

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The MGCL requires a corporation
(unless its charter provides otherwise, which our charter does not) to indemnify a director or officer who has been successful, on the
merits or otherwise, in the defense of any proceeding to which he or she is made or threatened to be made a party by reason of his or
her service in that capacity and permits a corporation to indemnify its present and former directors and officers, among others, against
judgments, penalties, fines, settlements and reasonable expenses actually incurred by them in connection with any proceeding to or in
which they may be made or threatened to be made a party or witness by reason of their service in those or other capacities unless it
is established that:

| · | the act or omission of                                                                                                         
 the director or officer was material to the matter giving rise to the proceeding and (1) was committed in bad faith or (2) was 
 the result of active and deliberate dishonesty;                                                                                |

| · | the director or officer                                                           
 actually received an improper personal benefit in money, property or services; or |

| · | in the case of any criminal                                                                                
 proceeding, the director or officer had reasonable cause to believe that the act or omission was unlawful. |

The MGCL prohibits us from
indemnifying a director or officer who has been adjudged liable in a suit by us or on our behalf or in which the director or officer
was adjudged liable on the basis that a personal benefit was improperly received. A court may order indemnification if it determines
that the director or officer is fairly and reasonably entitled to indemnification, even though the director or officer did not meet the
prescribed standard of conduct or was adjudged liable on the basis that personal benefit was improperly received; however, indemnification
for an adverse judgment in a suit by us or on our behalf, or for a judgment of liability on the basis that personal benefit was improperly
received, is limited to expenses.

The MGCL permits a Maryland
corporation to advance reasonable expenses to a director or officer upon receipt of a written affirmation by the director or officer
of his or her good faith belief that he or she has met the standard of conduct necessary for indemnification and a written undertaking
by him or her or