Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 429

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 429
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 reliance upon exemptions from registration provided by
Section 4(a)(2) of the Securities Act of 1933 and Regulation D thereunder for transactions not involving any public offering.
Each of Messrs. Kamfar and Ruddy has a substantive, pre-existing relationship with the company and is an “accredited investor”
as defined in Regulation D. No general solicitation or advertising occurred in connection with the issuance and sale of these securities.
The C-LTIP Units issued in payment of the Q3 2025 Base Management Fee and the Q3 2025 Base Salaries were fully vested upon issuance,
and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the company, and may then be redeemed
for cash or, at the option of the company and after a one year holding period (including any period during which such C-LTIP Units were
held), settled in shares of the company’s Class A common stock. Each of Messrs. Kamfar and Ruddy will be entitled to
receive “distribution equivalents” with respect to such C-LTIP Units at the time distributions are paid to the holders of
the company’s Class A common stock.

Item 34. Indemnification of Directors and Officers

Under Maryland law, a Maryland
corporation may include in its charter a provision eliminating the liability of directors and officers to the corporation and its stockholders
for money damages unless such liability results from (i) actual receipt of an improper benefit or profit in money, property or services
or (ii) active 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.

In addition, the Maryland
General Corporation Law (the “MGCL”) requires a corporation (unless its charter provides otherwise, which are 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 allows directors and officers
to be indemnified against judgments, penalties, fines, settlements, and expenses actually incurred in a proceeding unless the following
can be established:

| · | the act or omission of                                                                                                           
 the director or officer was material to the cause of action adjudicated in the proceeding, and was committed in bad faith or was 
 the result of