Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 330

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 330
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 exercising redemption rights against all losses caused by any untrue statement of a material fact contained in the registration statement, 
 preliminary prospectus or prospectus or caused by any omission to state a material fact required to be stated or necessary to make         
 the statements therein not misleading, except insofar as such losses are caused by any untrue statement or omission based upon information 
 furnished to us by such limited partners.                                                                                                  |

As a condition to our obligations with respect
to such registration, each limited partner will agree:

| · | that it will not offer                                                                                                              
 or sell shares of common stock that are issued upon redemption of its OP Units until such shares have been included in an effective 
 registration statement;                                                                                                             |

| · | that if we propose an underwritten                                                                                                          
 public offering, it will agree not to effect any offer, sale or distribution of our shares of common stock during the period commencing     
 on the tenth day prior to the expected effective date of a registration statement filed with respect to the public offering or commencement 
 date of a proposed offering and ending on the date specified by the managing underwriter for such offering; and to indemnify us and         
 each of our officers, directors and controlling persons against all losses caused by any untrue statement or omission contained in          
 (or omitted from) any registration statement based upon information furnished to us by such limited partner.                                |

Subject to certain exceptions,
our Operating Partnership will pay all expenses in connection with the exercise of registration rights under our partnership agreement.

LTIP Units

In general, LTIP Units will
receive the same per-unit distributions as the OP Units. When issued, each LTIP Unit will have a capital account balance of zero and,
therefore, will not have full parity with OP Units with respect to liquidating distributions. However, our partnership agreement provides
that our Operating Partnership’s assets will be revalued upon the occurrence of certain events and any resulting increase in valuation
will be allocated first to the LTIP Unitholders to equalize the capital accounts of such holders with the capital account of the general
partner’s OP Units.

Upon equalization of the
capital accounts of the LTIP Unitholders with the average per-unit capital account of the general partner’s OP Units, the LTIP
Units will achieve full parity with OP Units for all purposes, including with respect to liquidating distributions. If such parity is
reached, vested LTIP Units may be converted into an equal number of OP Units at any time, and thereafter enjoy all the rights