Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 888

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 888
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 Headings                                                       |     | 114 |
| Section 8.9. Severability                                                   |     | 114 |
| Section 8.10. Preferences                                                   |     | 114 |
| Section 8.11. Waiver of Notice                                              |     | 115 |
| Section 8.12. Remedies of Borrower                                          |     | 115 |
| Section 8.13. Schedules Incorporated                                        |     | 115 |
| Section 8.14. Offsets, Counterclaims and Defenses                           |     | 115 |
| Section 8.15. No Joint Venture or Partnership; No Third Party Beneficiaries |     | 115 |
| Section 8.16. Publicity                                                     |     | 116 |
| Section 8.17. Waiver of Marshalling of Assets                               |     | 116 |
| Section 8.18. Conflict; Construction of Documents; Reliance                 |     | 116 |
| Section 8.19. Brokers and Financial Advisors                                |     | 117 |
| Section 8.20. Prior Agreements                                              |     | 117 |
| Section 8.21. Time is of the Essence                                        |     | 117 |
| Section 8.22. Certain Additional Rights of Administrative Agent (VCOC)      |     | 117 |
| Section 8.23. Duplicate Originals, Counterparts                             |     | 117 |
| Section 8.24. Prepayment Charges                                            |     | 118 |
| Section 8.25. Registrar                                                     |     | 118 |
| Section 8.26. Multiple Property Provisions                                  |     | 119 |

<div align='center'>3

I-635</div>

| Section 8.27. Multiple Borrower Provisions |     | 120 |
| Section 8.28. Condominium Provisions       |     | 124 |

<div align='center'>4

I-636

SCHEDULES</div>

Exhibit A - Legal Description of Property

Exhibit B-1 - Form of Officer's Certificate

Exhibit B-2 - Form of Certificate of Authority

Exhibit C - Initial Approved Annual Budget

Exhibit D - Project Budget

Exhibit E - Permitted Fund Managers

Schedule I - Immediate Repairs, Deadlines for Completion, Funds Reserved

Schedule II - Organizational Structure

Schedule III - Definition of Special Purpose Entity and Related Terms

Schedule IV - Lease