0001144204-16-089251 Sample Contracts

MANAGEMENT AGREEMENT
Management Agreement • March 21st, 2016 • Bluerock Residential Growth REIT, Inc. • Real estate investment trusts • Florida

This Management Agreement (this "Agreement") is dated March 15, 2016, by and between BR Henderson Beach, LLC, a Delaware limited liability company ("Owner"), and GREP Southeast, LLC, a Delaware limited liability company ("Manager").

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LOAN ASSUMPTION AND MORTGAGE MODIFICATION AGREEMENT ("Assumption Agreement")
Loan Assumption and Mortgage Modification Agreement • March 21st, 2016 • Bluerock Residential Growth REIT, Inc. • Real estate investment trusts • Ohio

WESTERN-SOUTHERN LIFE ASSURANCE COMPANY, an Ohio corporation with its principal place of business at 400 Broadway, Cincinnati, Ohio 45202 ("Lender"), AHB APARTMENTS, LLC, a Delaware limited liability company, with an address 3889 Maple Avenue, Suite 200, Dallas, Texas 75219 ("Original Borrower"), and BR HENDERSON BEACH, LLC, a Delaware limited liability company, with an address c/o Bluerock Real Estate, L.L.C., 712 Fifth Avenue, 9th Floor, New York, New York 10019 ("New Borrower"), for good and valuable consideration, hereby agree as follows effective as of March 15, 2016 ("Effective Date"):

LIMITED RECOURSE GUARANTY
Limited Recourse Guaranty • March 21st, 2016 • Bluerock Residential Growth REIT, Inc. • Real estate investment trusts • Ohio

THIS LIMITED RECOURSE GUARANTY (this “Guaranty”), is made this 15th day of March, 2016 by and between BLUEROCK RESIDENTIAL GROWTH REIT, INC., a Maryland corporation (the “Guarantor”) in favor of WESTERN-SOUTHERN LIFE ASSURANCE COMPANY, an Ohio corporation whose address is 400 Broadway, Cincinnati, Ohio 45202 (“Lender”).

ENVIRONMENTAL INDEMNITY AGREEMENT
Environmental Indemnity Agreement • March 21st, 2016 • Bluerock Residential Growth REIT, Inc. • Real estate investment trusts

THIS ENVIRONMENTAL INDEMNITY AGREEMENT (this "Agreement"), is made this 15th day of March, 2016 by and between BR HENDERSON BEACH, LLC, a Delaware limited liability company, whose address is c/o Bluerock Real Estate, L.L.C., 712 Fifth Avenue, 9th Floor, New York, NY 10019 (“Borrower”) and BLUEROCK RESIDENTIAL GROWTH REIT, INC., a Maryland corporation, whose address is c/o Bluerock Real Estate, L.L.C., 712 Fifth Avenue, 9th Floor, New York, NY 10019 (“Guarantor”) (Borrower and Guarantor are collectively referred to herein as, the "Indemnitor") and WESTERN-SOUTHERN LIFE ASSURANCE COMPANY, an Ohio corporation whose address is 400 Broadway, Cincinnati, OH 45202 ("Lender").

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