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Tax Abatement Schedule prepared for: 2/8/2008 <br /> LAKE MICHIGAN MAILERS. <br /> (JADE ELEPHANT HOLDING, LLC) <br /> WITH VEHICLE <br /> South Bend German 5 Year Personal Property Abatement Schedule" <br /> Total estimated Equipment Cost: $1,216,873 <br /> Assume constant tax rate of: 5.1376 <br /> Assume constant SRTC rate of: 7.0636 <br /> TTV Assessed Gross Less Net Percent Tax Tax <br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated . Paid <br />1 40% 486,749 486,749 $25,007. 1,766 $23,241 100% $23,241 $0 <br />2 56% 681,449 681,449 $35,010. 2,473 $32,537 80% $26,030 $6,507 <br />3 42% 511,087 511,087. $26,258 1,855 $24,403 60% $14,642 $9,761 <br />4 ~ 32% 389,399 389,399 $20,006 1,413 $18,593 40% $7,437 $11,156 <br />5 24% 292,050 292,050 $15,004 1,060 $13,944 20°l0 $2,789 $11,155. <br /> $121,285 8,567 $112,718 $74,138 $38,580- .. .. <br /> Total Taxes Due`During Abatement: $112,718 <br /> Total Taxes Abated During Abatement: $74,138 <br /> Total Taxes Paid During Abatement: $38,580 <br /> } <br />-This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values will ultimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />