Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 282

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 282
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 record of the Series B
Redeemable Preferred Stock as they appear in our stock records at the close of business on the Series B Dividend Record Date for
the applicable Series B Dividend Period.

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The timing and amount of
dividends on the Series B Redeemable Preferred Stock will be determined by our board of directors, in its sole discretion, and may
vary from time to time. All such dividends will accrue and be paid on the basis of a 360-day year consisting of twelve 30-day months.
Dividends on the Series B Redeemable Preferred Stock will accrue whether or not (i) we have earnings, (ii) there are funds
legally available for the payment of such dividends and (iii) such dividends are authorized by our board of directors or declared
by us. Accrued dividends on the Series B Redeemable Preferred Stock will not bear interest.

Holders of shares of our
Series B Redeemable Preferred Stock are not entitled to any dividend in excess of full dividends on shares of our Series B
Redeemable Preferred Stock. Unless full dividends on shares of our Series B Redeemable Preferred Stock and Series A Redeemable
Preferred Stock for all past dividend periods have been or contemporaneously are declared and paid or declared and a sum sufficient for
the payment thereof in full is set apart for payment, we will not:

| · | declare and                                                                                                                            
 pay or declare and set apart for payment dividends or declare and make any other distribution of cash or other property (other than    
 dividends or distributions paid in shares of stock ranking junior to the Series B Redeemable Preferred Stock as to the dividend        
 rights or rights on our liquidation, winding-up or dissolution, and options, warrants or rights to purchase such shares), directly     
 or indirectly, on or with respect to any shares of our common stock or any class or series of our stock ranking junior to or on parity 
 with the Series B Redeemable Preferred Stock as to dividend rights or rights on our liquidation, winding-up or dissolution for         
 any period; or                                                                                                                         |

| · | except by conversion                                                                                                                  
 into or exchange for shares of stock ranking junior to the Series B Redeemable Preferred Stock as to dividend rights or rights        
 on our liquidation, winding-up or dissolution, or options, warrants or rights to purchase such shares, redeem, purchase or otherwise  
 acquire (other than a redemption, purchase or other acquisition