Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 548

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 548
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| 13.1             | Appointment                                           | 29 |
| 13.2             | Concerning the Delaware Trustee                       | 30 |
| 13.3             | Compensation and Reimbursement of Expenses; Indemnity | 32 |
| 13.4             | Amendments                                            | 32 |
| ARTICLE XIV      
 Miscellaneous    |                                                       |    |
| 14.1             | Filing                                                | 32 |
| 14.2             | Resident Agent                                        | 32 |
| 14.3             | Governing Law                                         | 33 |
| 14.4             | Counterparts                                          | 32 |
| 14.5             | Reliance by Third Parties                             | 33 |
| 14.6             | Provisions in Conflict with Law or Regulation         | 33 |

<div align='center'>iii

I-350</div>

AGREEMENT AND DECLARATION OF TRUST, made as of July 1, 2022, by the Trustees hereunder.

WHEREAS, this Trust has been formed to carry on business as set forth more particularly hereinafter;

WHEREAS, this Trust is authorized to issue an unlimited number of its shares of beneficial interest all in accordance with the provisions hereinafter set forth;

WHEREAS, the Trustees have agreed to manage all property coming into their hands as Trustees of a Delaware statutory trust in accordance with the provisions hereinafter set forth; and

WHEREAS, the parties hereto intend that the Trust created by the Declaration and the Certificate of Trust shall constitute a statutory trust under the Delaware Statutory Trust Act and that this Declaration shall constitute the governing instrument of such statutory trust.

NOW, THEREFORE, the Trustees hereby declare that they will hold all cash, securities, and other assets which they may from time to time acquire in any manner as Trustees hereunder IN TRUST to manage and dispose of the same upon the following terms and conditions for the benefit of the holders from time to time of shares of beneficial interest in this Trust as hereinafter set forth.

<div align='center'>ARTICLE I</div>

1.1 . This Trust shall be known as the “NexPoint Diversified Real Estate Trust” and the Trustees shall conduct the business of the Trust under that name or any other name or names as they may from time to time determine.

1.2 . As used in this Declaration, the following terms shall have the following meanings:

” shall mean the Investment Company Act of 1940