Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 304

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 304
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 is necessary; |

| · | retain employees or other service providers; |

| · | form or acquire interests in joint ventures; and |

| · | merge, consolidate or combine our Operating Partnership with another entity. |

In addition to the administrative
and operating costs and expenses incurred by our Operating Partnership, our Operating Partnership generally will pay all of our administrative
costs and expenses, including:

| · | all expenses relating to our continuity of existence and our subsidiaries’ operations; |

| · | all expenses relating to offerings and registration of securities; |

| · | all expenses associated with the preparation and filing of any of our periodic or other reports and communications under U.S. federal, state or local laws or regulations; |

| · | all expenses associated with our compliance with laws, rules and regulations promulgated by any regulatory body; and |

| · | all of our other operating or administrative costs incurred in the ordinary course of business on behalf of our Operating Partnership. |

These expenses, however, do
not include any of our administrative and operating costs and expenses incurred that are attributable to properties or interests in subsidiaries
that are owned by us directly rather than by our Operating Partnership or its subsidiaries, if any.

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Fiduciary Responsibilities of the General Partner

Our directors and officers
will have duties under applicable Maryland law to manage us in a manner consistent with the best interests of our stockholders. At the
same time, we, as the general partner of our Operating Partnership, will have fiduciary duties to manage our Operating Partnership in
a manner beneficial to our Operating Partnership and its partners. Our duties, as general partner to our Operating Partnership and its
limited partners, therefore, may come into conflict with the duties of our directors and officers to our stockholders. In the event that
a conflict of interest exists between the interests of our stockholders, on the one hand, and our Operating Partnership’s limited
partners, on the other, we will endeavor in good faith to resolve the conflict in a manner not adverse to either our stockholders or such
limited partners. However, any such conflict that we determine cannot be resolved in a manner not adverse to either our stockholders or
such limited partners shall be resolved in favor of our stockholders. The limited partners of our Operating Partnership will acknowledge
expressly that in the event of such a determination by us, as the general partner of our Operating Partnership, we will not be liable
to such limited partners for losses sustained or