Document:

Exhibit 10.187

 

REDEMPTION AGREEMENT

 

THIS
REDEMPTION AGREEMENT (this "Agreement") is hereby made as of December 9, 2014 by and between, BR Berry Hill Managing
Member, LLC, a Delaware limited liability company ("Company"), Bluerock Growth Fund, LLC, a Delaware limited liability
company ("BRGF"), BEMT Berry Hill, LLC, a Delaware limited liability Company ("BEMT
Berry Hill") and
Bluerock Special Opportunity + Income Fund, LLC, a Delaware limited liability company ("SOIF III", and collectively
with BRGF and SOIF III, the "Members").

 

WITNESSETH

 

WHEREAS,
the Members are parties to that certain Second Amended and Restated Limited Liability Company Agreement of the Company dated as
of August 29, 2013 (the "Operating Agreement").

 

WHEREAS,
BRGF owns a 35.194% membership interest (the "BRGF Membership Interest")
in the Company;

 

WHEREAS,
the Company owns a 82.50% membership interest in BR Stonehenge 23Hundred JV, LLC ("JV LLC");

 

WHEREAS,
the Company now desires to redeem the BRGF Membership Interest in its entirety, and BRGF desires to have such membership interest
redeemed, in exchange for a 29.0351% membership interest in JV LLC (the "JV LLC
Interest").

 

NOW, THEREFORE,
in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties to this Agreement (collectively, the "Parties") agree as follows:

 

1.          Redemption
of BRGF Membership Interest. Upon
the terms and subject to the conditions of this Agreement, effective as of the Effective Date, as defined below:

 

		a.	BRGF hereby assigns, grants, sells, conveys, transfers and sets over
all of the BRGF Membership Interest, to the Company, together with all rights, title, benefits and interest of BRGF in and to the
BRGF Membership Interest effective as of December 9, 2014 (the "Effective Date"),
all in accordance with the provisions set forth in this Agreement; and

 

		b.	The Company hereby accepts such assignment, transfer, and conveyance of the BRGF Membership Interest
and assumes those liabilities, obligations and responsibilities, if any, attributable to the BRGF Membership Interest that shall
arise upon or after the Effective Date.

 

		c.	The Company specifically agrees and acknowledges that (a) as of the date hereof, BRGF has no outstanding
obligations as a member or manager of the Company (including, without limitation, obligations to fund any capital contributions
under the Operating Agreement, and (b) from and after the date hereof, BRGF shall have no further obligations, financial or otherwise,
as a member or manager of the Company (except as to third-party claims pursuant to Section 2(b) hereof).

 

    	 

    	 

    

 

		d.	As consideration for the assignment, transfer, and conveyance of the
BRGF Membership Interest by BRGF to the Company, the Company hereby assigns, grants, sells, conveys, transfers and sets over all
of the JV LLC Interest, to BRGF, together with all rights,
title, benefits and interest of
the Company in and to the JV LLC Interest effective
as of December 9, 2014
(the "Effective Date").

 

		e.	BRGF hereby accepts such assignment, transfer, and conveyance of the JV LLC Interest and assumes
those liabilities, obligations and responsibilities, if any, attributable to the JV LLC Interest that shall arise upon or after
the Effective Date.

 

		2.	Release and Indemnification.

 

		a.	For value received, BRGF, for itself and for each and all of its Successors-in
Interest (as defined in Section 2(e) below), forever releases
the Company, and relinquishes any right, title or interest in and to the Company, any limited liability company interest, membership
interest, percentage interest or other interest or right in respect of the Company, any right to any capital account, return of
capital or other capital or investment with respect to the Company, any distributions of cash or property of whatsoever nature
from the Company or otherwise related thereto, other property rights, and/or any other income, revenue, benefit or privilege of
whatsoever nature from the Company or otherwise relating thereto; provided, however, the Company shall not be released from
any obligations or liabilities to BRGF or its affiliates (i) pursuant to the certificate of formation of the Company or the Operating
Agreement solely limited to the indemnification of a manager or member of the Company as to matters arising out of the Company's
acts or omissions occurring prior to the Effective Date, or (ii) as provided under this Agreement.

 

		b.	For value received, to the fullest extent permitted by law, the Company,
for itself and for each and all of its Successors-in-Interest, hereby and forever releases and discharges BRGF and agrees to indemnify
and hold harmless BRGF and each and all of its Successors-in-Interest from any and all claims, demands, liens, causes of action,
suits, obligations, controversies, debts, costs, expenses, damages, judgments and orders of whatever kind or nature, at law, in
equity or otherwise, whether known or unknown, suspected
or unsuspected, which have existed, presently exist or may exist, relating to the Company or its activities, assets, liabilities,
or any obligations that BRGF may have to the Company or the other members of the Company under the terms of the Operating Agreement;
provided , however, BRGF shall not be released or indemnified from any and all claims, demands, liens, causes of action,
suits, obligations, controversies, debts, costs, expenses, damages, judgments and orders of whatever kind or nature, at law, in
equity or otherwise, whether known or unknown, suspected or unsuspected, that result from third party claims arising prior to the
Effective Date (including, without limitation, any taxes due and owing to any taxing authority), which shall be governed and controlled
exclusively by the Operating Agreement.

 

    	 

    	 

    

 

		c.	Subject to the provisions of this Section
2, from and after the Effective Date, to the fullest extent permitted by law, BRGF shall
defend, indemnify, protect, and hold harmless, the Company and each of the other members of
the Company and their respective Successors-in-Interest, against and in respect of any and all losses, liabilities, damages, actions,
suits, proceedings, claims, demands, orders, assessments., amounts paid in settlement, fines, costs or deficiencies, including
without limitation, interest, penalties, and reasonable attorneys' fees and costs, including the cost of seeking to enforce this
indemnity to the extent such enforcement is successful, caused by or resulting or arising from, or otherwise with respect to, (i)
any failure to perform or comply in any material respect with BRGF's covenants or obligations contained in this Agreement or the
BRGF SPE's covenants or obligations under the TIC Agreement, the Deed and the other conveyance documents executed in connection
with the transfer of the TIC Interest, or (ii) a breach of any of the representations or warranties of BRGF contained in this Agreement,
excluding any liabilities to the extent caused by the gross negligence or willful misconduct of the Company.

 

		d.	Subject to the provisions of this Section 2 (including without
limitation Section 2(c)), to the fullest extent permitted by law, from and after the Effective Date, the Company shall defend,
indemnify, protect, and hold harmless BRGF and each and all of its Successors-in-Interest against and in respect of any and all
losses, liabilities, damages, actions, suits, proceedings, claims, demands, orders, assessments, amounts paid in settlement, fines,
costs or deficiencies, including without limitation, interest, penalties, and reasonable attorneys' fees and costs, including the
cost of seeking to enforce this indemnity to the extent such enforcement is successful, caused by or resulting or arising from,
or otherwise with respect to a breach of any of the representations or warranties of the Company contained in this Agreement, excluding
any liabilities to the extent caused by the gross negligence or willful misconduct of BRGF.

 

		e.	For purposes of this Agreement, the term "Successors-in-Interest"
shall mean, with respect to a person, such person's present, past and future successors, assigns,
affiliates, licensees, transferees, principals, agents, members, partners, associates, employees, representatives, attorneys, insurers,
beneficiaries, legal representatives, decedents, dependents, heirs, executors or administrators.

 

    	 

    	 

    

 

		3.	Tax Matters.

 

		a.	The distributive share of the Company's income, gain, loss, and deduction with respect
to the BRGF Membership Interest for the taxable year of the Company that includes the Effective Date shall be determined based
upon an interim closing of the Company's books as of the close of business on the Effective Date.

 

		b.	Except as otherwise prohibited by applicable law, the parties shall each file all required federal,
state and local income tax returns and related returns and reports in a manner consistent with the foregoing provisions of this
Section 4. In the event a party does not comply with the preceding sentence, the noncomplying party, to the fullest extent
permitted by law, shall indemnify and hold the other parties and each and all of their Successors-in-Interest wholly and completely
harmless from all cost, liability and damage that such other parties may incur (including, without limitation, incremental tax
liabilities, legal fees, accounting fees and other expenses) to the extent that such costs, liabilities and damages exceed the
amount of the same that such other parties would have incurred pursuant to the terms of the Operating Agreement as a consequence
of such failure to comply.

 

		4.	Representations and Warranties.

 

		a.	BRGF hereby represents and warrants to the Company as follows: (a) BRGF is the sole owner of the
BRGF Membership Interest; (b) the BRGF Membership Interest is free and clear of any and all liens, claims and encumbrances of any
nature, (c) BRGF has full power and authority to transfer said BRGF Membership Interest and to perform its obligations under this
Agreement and (d) this Agreement has been duly executed and delivered by and constitutes the valid and binding obligation of BRGF,
enforceable against BRGF in accordance with its terms.

 

		b.	The Company represents and warrants to BRGF that the Company has all requisite power and authority
to enter into this Agreement and to perform its obligations under this Agreement. This Agreement has been duly executed and delivered
by and constitutes the valid and binding obligation of the Company, enforceable against the Company in accordance with its terms.
The Company is not required to obtain any consent that has not been obtained from any person or entity in connection with the execution
and delivery of this Agreement, the consummation or performance of any of the transactions contemplated hereby, or the purchase
of the BRGF Membership Interest.

 

5.          Consents
and Waivers. Each party hereto hereby (a) consents in all capacities to and approves (i) the transfer of the Redeemed Interest
described herein and the withdrawal and cessation of BRGF as a member of the Company, and (ii) each other action effected pursuant
to this Agreement, and (b) waives in all capacities any and all rights such party may have as a result of such actions (i) to receive
notice of assignment and transfer of the Redeemed Interests or any other action effected pursuant to this Agreement, (ii) to purchase
the Redeemed Interests, (iii) to exercise any right of first refusal or other purchase right or option or buy-sell provision arising
under or with respect to the Operating Agreement, or (iv) to claim that any action effected pursuant to this Agreement does not
comply with the provisions of the Operating Agreement.

 

    	 

    	 

    

 

6.          Survival
of Representations. The representations and warranties described
in Section 6 shall survive for the two (2) year period following the Effective Date. All other warranties, representations,
covenants and agreements shall survive for the period indicated, or if none, indefinitely.

 

7.          Costs
and Expenses. The Company shall pay, and to the fullest extent permitted by law, shall indemnify and hold BRGF and each
and all of its Successors-in-Interest harmless against, all reasonable out-of-pocket costs and expenses incurred by it in connection
with the transactions contemplated by this Agreement, including, without limitation, legal fees. The foregoing is only intended
to include costs and expenses in excess of the costs and expenses which reasonably would have been incurred by BRGF had this Agreement
not been entered into. Such costs and expenses shall be payable after the closing of the transfers of the BRGF Membership Interest
and the JV LLC Interest promptly upon receipt by the Company of a written statement from BRGF setting forth in reasonable detail
the costs and expenses to be paid pursuant to this Section 7. Subject to the foregoing, each party shall pay all costs and
expenses incurred by it in connection with the transactions contemplated by this Agreement.

 

8.          Notices.
Any notices or other communications required or permitted hereunder shall be given in writing by registered or certified mail,
postage prepaid, and shall be addressed, in the case of BRGF: c/o Bluerock Real Estate, L.L.C, 712 Fifth Avenue, 9th Floor, New
York, NY 10016; and in the case of the Company or any of the other Members: c/o Bluerock Real Estate, L.L.C, 712 Fifth Avenue,
9th Floor, New York, NY 10016. Any notice or other communication so addressed and mailed, postage prepaid, by registered or certified
mail (in each case, with return receipt requested) shall be deemed to be delivered and given when received or refused.

 

9.          Successors
and Assigns. This Agreement shall inure to the benefit of, and be binding upon, the Successors-in-Interest, assigns, heirs,
executors, administrators, members, managers, agents and representatives of the Parties hereto.

 

10.          Governing
Law; Exclusive Venue; Waiver of Jury Trial.

 

		a.	This Agreement and the transactions contemplated herein, and all disputes between the parties arising
out of or related to this Agreement, the transactions contemplated herein or the facts and circumstances leading to its or their
execution or performance, whether in contract, tort or otherwise, shall be governed by the laws of the State of Delaware, without
reference to conflict of laws principles.

 

		b.	The parties hereby agree not to elect a trial by jury of any issue triable of right by jury, and
waive any right to trial by jury fully to the extent that any such right shall now or hereafter exist with regard to this agreement
or any claim, counterclaim or other action arising in connection herewith. This waiver of right to trial by jury is given knowingly
and voluntarily by the parties, and is intended to encompass individually each instance and each issue as to which the right to
a trial by jury would otherwise accrue. Each party is hereby authorized to file a copy of this section in any proceeding as conclusive
evidence of this waiver by each other party, as applicable.

 

    	 

    	 

    

  

		c.	The parties hereby consent to the jurisdiction of any State or Federal
court located within the State of New York, Borough of Manhattan or the State of Tennessee and irrevocably agree that all actions
or proceedings arising out of or relating to this agreement shall be litigated in such courts.
The parties accept for themselves and in connection with their properties, generally and unconditionally, the jurisdiction of the
aforesaid courts and waive any defense of forum non conveniens, and irrevocably agree to be bound by any judgment rendered thereby
in connection with this agreement. Each party hereby irrevocably waives, to the fullest extent permitted by law, any objection
it may now or hereafter have to such venue as being an inconvenient forum.

 

11.         Severability.
If any provision of this Agreement is held by a court of competent jurisdiction to be contrary to law, the remaining provisions
of this Agreement will remain in full force and effect.

 

12.         Entire
Agreement; Amendment. This Agreement
contains the entire understanding of the Parties and there are no representations, understandings, or agreements, oral or otherwise,
except as stated herein. This Agreement amends the Operating Agreement with respect to the subject matter of this Agreement. References
to "this Agreement" shall include all Exhibits attached hereto and made a part hereof. This Agreement may not be amended
except in writing by all of the Parties hereto.

 

13.         Counterparts;
Signature Pages. This Agreement may be executed in counterparts, each of which when so executed and delivered shall constitute
a complete and original instrument but all of which taken together shall constitute one and the same agreement, and it shall not
be necessary when making proof of this Agreement or any counterpart thereof to account for any other counterpart. Signatures transmitted
by facsimile or e-mail, through scanned or electronically transmitted .pdf, .jpg or .tif files, shall have the same effect as the
delivery of original signatures and shall be binding upon and enforceable against the Parties hereto as if such facsimile or scanned
documents were an original executed counterpart. If the Parties exchange signatures by facsimile or electronic means, then the
Parties agree to exchange the original signatures as soon thereafter as is reasonably practical.

 

[Signature pages follow.]

 

    	 

    	 

    

 

IN WITNESS
WHEREOF, the Parties hereto have executed this Agreement to be effective as of the Effective Time.

 

	 	BR BERRY
    HILL MANAGING MEMBER, LLC
	 	 
		By:	BEMT Berry
    Hill, LLC,
	 	 	a Delaware limited liability company
		Its:	Member

 

		 	By:	Bluerock Residential Holdings, LP,
	 	 	 	a Delaware limited partnership
		 	Its:	Sole Member

 

		 	By:	Bluerock Residential Growth REIT, Inc. 
	 	 	 	a Maryland corporation 
		 	Its:	General Partner

 

	 	 	By:	/s/ Michael L. Konig
	 	 	 	Michael L. Konig
	 	 	Its:	Senior Vice President and Chief
	 	 	 	Operating Officer

 

	 	BLUEROCK GROWTH FUND, LLC
	 	 
		By:	BR Fund Manager, LLC, 
	 	 	a Delaware limited liability company
		Its:	Manager 

 

		 	By:	/s/ Jordan Ruddy
	 	 	 	Jordan Ruddy
		 	Its:	Authorized Signatory

 

[Signature Page to BRGF Redemption
Agreement]

 

    	 

    	 

    

 

	 	BEMT BERRY HILL, LLC
	 	 
		By:	Bluerock Residential Holdings, LP, 
	 	 	a Delaware limited partnership
		Its:	Sole Member

 

	 	 	By:	Bluerock Residential Growth REIT, Inc., 
	 	 	 	a Maryland corporation
	 	 	Its:	General Partner

 

	 	 	By:	/s/ Michael L. Konig
	 	 	Name:	Michael L. Konig
	 	 	Its:	Senior Vice President and Chief Operating Officer

 

	 	BLUEROCK SPECIAL OPPORTUNITY + INCOME FUND III, LLC
	 	 
		By:	BR SOIF III Manager, LLC, 
	 	 	a Delaware limited liability company
		Its:	Manager

 

	 	 	By:	/s/ Jordan B. Ruddy
	 	 	Name:	Jordan B. Ruddy
	 	 	Its:	President 

 

[Signature Page to BRGF Redemption
Agreement]Exhibit 10.188

 

CONTRIBUTION AND DISTRIBUTION
AGREEMENT

 

THIS
CONTRIBUTION AND DISTRIBUTION AGREEMENT
(“Agreement”) is
made and entered into as of the
9th day of December,
2014 (the “Effective
Date” ), by and among BR Berry Hill Managing
Member, LLC, a Delaware limited liability company (“MMI”), BR Berry Hill Managing Member II, LLC, a Delaware
limited liability company (“MMII”), Bluerock Special Opportunity + Income Fund III, LLC, a Delaware limited
liability company (“SOIF III”) and BEMT Berry Hill, LLC, a Delaware limited liability company (“BEMT”).

 

RECITALS:

 

A.           SOIF
III is the owner and holder of a 53.0522% limited liability company interest in MMI.

 

B.           Bluerock
Residential Holdings, LP, a Delaware limited partnership (the "Operating Partnership"), wholly owns BEMT. BEMT
is the owner and holder of a 46.9478% limited liability company interest in MMI.

 

C.           MMI
is the owner and holder of a 33.4649% limited liability company interest in BR Stonehenge 23Hundred JV, LLC, a Delaware limited
liability company ("Stonehenge JV'' ).

 

D.           Stonehenge
JV is the owner and holder of 100% of the limited liability company interests in 23Hundred, LLC, a Delaware limited liability company,
which is the fee simple owner and holder of the 23Hundred at Berry Hill apartments located in the City of Berry Hill, Davidson
County, Tennessee (the "Berry Hill Apartments").

 

E.           Affiliates
of Bluerock Residential Growth REIT, Inc., a Maryland corporation (the “REIT”), which is the parent and general
partner of the Operating Partnership, intend to enter into
a series of transactions pursuant to which the ownership of Stonehenge JV and the Berry Hill Apartments will be restructured (such
transactions being referred to collectively as the "Stonehenge JV Restructuring").

 

F.           In
connection with the Stonehenge JV Restructuring, MMI desires to contribute, and MMII desires to accept the contribution from MMI
of, all of MMI's right, title and interest in 20.00% of its limited liability company interests in Stonehenge JV (the "Stonehenge
JV Interest") free and clear of Liens and Claims, and the parties desire to amend the ownership structure of Stonehenge
JV in connection therewith, after which MMI will have a 33.4649% limited liability company interest in Stonehenge JV and MMII will
have a 20.00% limited liability company interest in Stonehenge JV.

 

G.           In
consideration of the Stonehenge JV Interest, MMII shall distribute 53.0522% of the limited liability company interests in itself
to SOIF III and 46.9478% of the limited liability company interests in itself to BEMT, as provided herein (collectively, the "MMII
Interests").

 

H.           Capitalized
terms used herein but not otherwise defined shall have the respective meanings set forth in Schedule 1.

 

    	 

    	 

    

 

NOW, THEREFORE,
in consideration of the promises and the mutual covenants contained herein, the parties hereby agree as follows:

 

1.            Contribution
of the Stonehenge JV Interest.
For and in consideration of the MMII Interests to be issued by MMII to SOIF III and BEMT and other good and valuable consideration,
the sufficiency of which is hereby acknowledged, and subject to the terms and conditions herein set forth, MMI hereby contributes,
conveys, transfers and irrevocably assigns to MMII, and MMII accepts such contribution from MMI, the Stonehenge JV Interest, free
and clear of all Liens and Claims.

 

2.            Consideration.
In exchange for the contribution, conveyance, transfer and assignment of the Stonehenge JV Interest held by MMI, (i) MMII shall
issue and deliver to SOIF III 53.0522% of the limited liability company interests in itself and (ii) MMII shall issue and deliver
to BEMT 46.9478% of the limited liability company interests in itself. SOIF III and BEMT understand and acknowledge that MMII makes
no representations regarding the actual value of the MMII Interests.

 

3.            Representations
and Warranties of MMI. MMI represents and warrants
to MMII that the following statements are true, complete and correct as of the Effective Date.

 

3.1.         Organization;
Validity; Authority; No Conflict.

 

3.1.1.          MMI
is a limited liability company duly organized, validly existing and in good standing under the Laws of the State of Delaware and
has full legal right, power and authority to enter into, execute and deliver this Agreement, to perform its obligations hereunder,
and to contribute, convey, transfer and irrevocably assign to MMII the Stonehenge JV Interest, as herein provided.

 

3.1.2.          The
execution and delivery of this Agreement by MMI, the performance by MMI of the transactions contemplated by this Agreement, or
the transfer of Stonehenge JV Interest provided for herein will not (i) violate or conflict with any provision of Law or any Order
applicable to MMI; (ii) require any consent or approval by or filing or notice with any Governmental Entity; or (iii) violate or
conflict with any agreement or understanding by which MMI or the Stonehenge JV Interest is bound.

 

3.1.3.          This
Agreement has been duly authorized by all necessary limited liability company action on the part of MMI. This Agreement has been,
or upon execution and delivery will be, duly executed and delivered by MMI and constitutes, or upon execution and delivery will
constitute, the valid and binding obligations of MMI enforceable against MMI in accordance with its terms.

 

3.2.        Title
to the Stonehenge JV Interest. MMI has good and valid title to its Stonehenge JV Interest, free and clear of any Lien.

 

3.3.        Litigation.
There are no outstanding Orders by which MMI is bound, or any pending or to the Knowledge of
MMI, threatened, which relate to or affect the Stonehenge JV Interest, nor to the Knowledge of MMI are there any facts or circumstances
which are likely to give rise to any such Action or Proceeding.

 

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4.            Representations
and Warranties of MMII. MMII represents and
warrants to MMI, SOIF III and BEMT that the following statements are true, complete and correct as of the Effective Date:

 

4.1.          Organization;
Validity; Authority. MMII is a limited liability company duly organized, validly existing
and in good standing under the Laws of the State of Delaware. MMII has all requisite limited liability company power and authority
to enter into the Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this Agreement
has been duly authorized by all necessary limited liability company action on the part of MMII. The Agreement has been, or upon
execution and delivery will be, duly executed and delivered and constitutes, or upon execution and delivery will constitute, the
valid and binding obligation of MMII, enforceable against MMII in accordance with its terms, subject to applicable bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium, and similar laws affecting creditors' rights and remedies generally,
and to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).

 

4.2.          Distribution
of the MMII Interests. The
MMII Interests, when issued and delivered in compliance with the provisions of this Agreement, will be duly authorized, validly
issued, fully paid and non-assessable. The MMII Interests will be free of any Liens. The MMII Interests will not be issued in violation
of any preemptive rights or rights of first refusal afforded to any Person.

 

5.            Effect
of Contribution of Stonehenge JV Interest. From and after the Effective Date, MMI shall not be entitled to any portion of income,
gain, Loss, deduction or credit allocable to the Stonehenge JV Interest on or after such date. Nothing in this Agreement will affect
the allocation to MMI of profits, Losses and other items of income, gain, Loss, deduction or credit allocable to the Stonehenge
JV Interest and attributable to any period before the Effective Date or any distribution payments made to MMI with respect to the
Stonehenge JV Interest before such date, and MMI shall be entitled to receive any and all distributions that have accrued but remain
unpaid as of the Effective Date with respect to the Stonehenge JV Interest.

 

6.            Indemnification.

 

6.1.          Indemnification
of MMII by MMI. MMI shall indemnify, defend and hold MMII, its successors, assigns and Affiliates (each an "MMII Indemnified
Party," and collectively, the "MMII Indemnified Parties") harmless from any liability, claim, demand,
loss, expense or damage that is: (a) suffered by, or asserted by any third party against, an MMII Indemnified Party arising from
any act or omission of MMI, its agents, employees or contractors or otherwise arising out of the ownership or operation of the
Stonehenge JV Interest first arising or occurring prior to the Effective Date; (b) arising out of the breach or inaccuracy of MMI'
s representations and warranties set forth herein; or (c) except as otherwise provided in this Agreement, arising out of any failure
by MMI to perform any covenant or obligation set out in this Agreement.

 

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6.2.          Indemnification
of MMI, SOIF III and BEMT by MMII. MMII shall indemnify, defend and hold MMI, SOIF III, and BEMT, their successors, assigns
and Affiliates (each an "MMI Indemnified Party," and collectively, the "MMI Indemnified Parties ")
harmless from any liability, claim, demand, loss, expense or damage that is: (a) suffered by, or asserted by any third party
against, an MMI Indemnified Party arising from any act or omission of MMII, its assigns, its
agents, employees or contractors or otherwise arising out of the ownership and operation of the MMII Interests first arising or
occurring prior to the Effective Date; (b) suffered by, or asserted by any third party against, an MMI Indemnified Party arising
from any act or omission of MMII, its assigns, its agents, employees or contractors or otherwise arising out of the ownership and
operation of the Stonehenge JV Interest first arising from and after the Effective Date; (c) arising out of the breach or inaccuracy
of any of MMII's representations and warranties set forth herein; or (d) except as otherwise provided in this Agreement, arising
out of any failure by MMII to perform any covenant or obligation set out in this Agreement.

 

7.            Miscellaneous.

 

7.1.          Entire
Agreement. This Agreement shall constitute the
entire agreement between the parties relating to the contribution of the Stonehenge JV Interest and the distribution of the MMII
Interests, and supersedes and cancels all previous negotiations, understandings and agreements between the parties regarding the
subject matter hereof. No conditions, use of trade, course of dealing, understanding or agreement purporting to vary, explain or
supplement the terms of this Agreement shall be binding unless hereafter made in writing and signed by each of the parties to this
Agreement.

 

7.2.          Choice
of Law. This Agreement shall be interpreted in accordance with the Laws of the State of Delaware, without regard to the conflict
of laws principles thereof.

 

7.3.          Waiver.
No waiver of any of the terms or conditions of this Agreement shall be effective or binding unless such waiver is in writing and
is signed by all of the parties, nor shall this Agreement be changed, modified, discharged or terminated other than in accordance
with its terms, in whole or in part, except by a writing signed by all of the parties. Waiver by any party of any term, provision
or condition of this Agreement shall not be construed to be a waiver of any other term, provision or condition nor shall such waiver
be deemed a subsequent waiver of the same term, provision or condition.

 

7.4.          Severability.
In the event any provision in this Agreement shall be deemed invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions hereof shall not in any way be affected or impaired thereby.

 

7.5.          Assignment.
No party shall in any way sell, transfer, assign or otherwise dispose of this Agreement or any of the rights, privileges, duties
and obligations granted or imposed under this Agreement. Any attempted or actual sale, transfer, assignment, or disposal, in whole
or in part, of this Agreement will be void and have no effect.

 

7.6.          Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original
and all of which together shall constitute one and the same instrument. Facsimile and electronic executions and deliveries shall
have the full force and effect of original signatures.

 

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7.7.          Binding
Effect. This
Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and permitted assigns.

 

7.8.          Waiver
of Jury Trial; Forum. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO
TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH
PARTY SHALL BRING ANY ACTION AGAINST THE OTHER IN CONNECTION WITH THIS AGREEMENT IN A FEDERAL OR STATE COURT LOCATED IN NEW YORK,
NEW YORK, CONSENTS TO THE JURISDICTION OF SUCH COURTS, AND WAIVES ANY RIGHT TO HAVE ANY PROCEEDING TRANSFERRED FROM SUCH COURTS
ON THE GROUND OF IMPROPER OR INCONVENIENT FORUM.

 

[Signature pages follow]

 

    	5

    	 

    

 

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be executed as of the date set forth above.

 

	 	MMI:	 
	 	 	 
	 	BR BERRY HILL MANAGING MEMBER, LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	By:	BEMT Berry Hill, LLC,	 
	 	 	a Delaware limited liability company	 
	 	Its:	Member and Manager	 
	 	 	 	 
	 	By:	Bluerock Residential Holdings, LP,	 
	 	 	a Delaware limited partnership	 
	 	Its:	Sole Member	 
	 	 	 	 
	 	 	By:	Bluerock Residential Growth REIT, Inc., 	 
	 	 	 	a Maryland corporation	 
	 	 	Its:	General Partner	 
	 	 	 	 
	 	 	 	By:	/s/ Michael L. Konig	 
	 	 	 	Name:	Michael L. Konig	 
	 	 	 	 	Its:	Senior Vice President and Chief Operating 	 
	 	 	 	 	Officer	 
	 	 	 	 	 	 	 

 

	 	MMII:	 
	 	 	 
	 	BR BERRY HILL MANAGING MEMBER II, LLC,  	 
	 	a Delaware limited liability company  	 
	 	 	 	 
	 	By:	BEMT Berry Hill, LLC,	 
	 	 	a Delaware limited liability company 	 
	 	Its:	Member and Manager	 
	 	 	 	 
	 	By:	Bluerock Residential Holdings, LP, 	 
	 	 	a Delaware limited partnership 	 
	 	Its:	Sole Member	 
	 	 	 	 
	 	 	By:	Bluerock Residential Growth REIT, Inc., 	 
	 	 	 	a Maryland corporation 	 
	 	 	Its:	General Partner	 
	 	 	 	 
	 	 	 	By:	/s/ Michael L. Konig	 
	 	 	 	 	Name:	Michael L. Konig	 
	 	 	 	Its:	Senior Vice President and Chief Operating 

Officer 	 
	 	 	 	 	 	 	 

  

[Signature Page to Contribution
and Distribution Agreement]

 

    	6

    	 

    

 

	 	SOIF III:	 
	 	 	 
	 	BLUEROCK SPECIAL OPPORTUNITY + INCOME FUND III, LLC,
	 	a Delaware limited liability company	 
	 	 	 	 
	 	By:	BR SOIF Ill Manager, LLC,	 
	 	 	a Delaware limited liability company	 
	 	Its:	Manager	 
	 	 	 	 
	 	 	By:	/s/ Jordan B. Ruddy	 
	 	 	 	Name: 	Jordan B. Ruddy	 
	 	 	Its:	President	 

 

	 	BEMT:    	 
	 	 	 
	 	BEMT BERRY HILL, LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	By:	Bluerock Residential Holdings, LP,	 
	 	 	a Delaware limited partnership	 
	 	Its:	Sole Member	 
	 	 	 	 	 
	 	 	By:	Bluerock Residential Growth REIT, Inc.,	 
	 	 	 	a Maryland corporation	 
	 	 	Its:	General Partner	 
	 	 	 	 	 
	 	 	 	By:	/s/ Michael L. Konig	 
	 	 	 	 	Name:	Michael L. Konig	 
	 	 	 	Its:	Senior Vice President and Chief Operating	 
	 	 	 	 	Officer	 
	 	 	 	 	 	 	 

[Signature Page to Contribution
and Distribution Agreement]

  

    	7

    	 

    

 

SCHEDULE 1

DEFINITIONS

 

As used
in this Agreement, the following terms have the following meanings unless the context otherwise requires:

 

1.          "Action
or Proceeding" means any action, complaint, petition, suit or other legal proceeding, whether civil or criminal, in law
or in equity, or before any arbitrator or any Governmental Entity.

 

2.          "Affiliates"
means when used in reference to a specified Person, any other Person that directly, or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with the specified Person. For purposes of this definition, "control"
(including, with its correlative meanings, the terms "controlling," "controlled by," and "under common
control with") as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of that Person, whether through ownership of voting securities or equity interests, by
contract or otherwise.

 

3.          "Applicable
Person" means the people listed on Schedule 2.

 

4.          "Claim"
means any pending contest, claim, demand, assessment, Action, cause of action, litigation, notice or demand involving any Person.

 

5.          "Governmental
Entity" means any government or any agency, bureau, board, commission, court, department, official, political subdivision,
tribunal or other instrumentality in each case of any government, whether federal, state or local, domestic or foreign.

 

6.          "Knowledge"
means actual knowledge of an Applicable Person and the knowledge that such Applicable Person without independent inquiry would
reasonably be expected to obtain in the course of diligently performing his or her duties.

 

7.          "Law"
means any constitutional provision, statute or other law, rule, regulation, or interpretation of any Governmental Entity, and
any Order.

 

8.          "Lien"
means any lien, pledge, hypothecation, mortgage, security interest, Claim, lease, charge, option, right of first refusal, easement,
servitude, transfer restriction under any stockholder or similar agreement, encumbrance or any other restriction or limitation
whatsoever.

 

9.          "Loss"
means any and all costs, expenses, direct losses or damages, fines, penalties or liabilities
(including interest which may be imposed or incurred in connection therewith, court costs, litigation expenses, reasonable attorneys'
fees and costs).

 

10.         "Order"
means any decree, injunction, judgment, order, ruling, assessment or writ of a Governmental Entity or arbitration award.

 

    	 

    	 

    

 

11.         "Person"
means an association, a corporation, an individual, a limited liability company, a partnership (whether general or limited),
a trust (whether inter vivos or testamentary) or any other entity or organization, whether organized for profit or not for profit,
and including a Governmental Entity.

 

12.         "Tax"
and "Taxes" mean any gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium,
windfall profits, environmental (including taxes under Internal Revenue Code §59A), customs duties, capital stock, franchise,
profits, withholding, social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer,
registration, value added, alternative or add-on minimum, estimated, escheatment or unclaimed property or other tax of any kind
whatsoever, including any interest, penalty, or addition thereto, whether disputed or not, and including any obligations to indemnify
or otherwise assume or succeed to the Tax liability of any other Person, including pursuant to any tax sharing agreement or any
other contract relating to the sharing or payment of any such tax, pursuant to operation of Law or otherwise.

 

    	 

    	 

    

 

SCHEDULE 2

 

APPLICABLE PERSONS

 

R. Ramin Kamfar

 

Michael L. Konig

 

Christopher J. Vohs

 

James G. Babb, III

 

Gary T. Kachadurian

 

Brian D. Bailey

 

I. Bobby Majumder

 

Romano Tio

 

Jordan B. Ruddy

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00241-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00241-of-00352.parquet"}]]