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Tax Abatement Schedule prepared for:
<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 />* - 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 />2/8/2008
<br />Tax
<br />Paid
<br />$0
<br />$6,507
<br />$9,761
<br />$11,156
<br />$11,155
<br />$38,580
<br />TTV
<br />Assessed
<br />Gross
<br />Less
<br />Net
<br />Percent
<br />Tax
<br />Year
<br />TTV%
<br />(Year 1 -5)
<br />Value
<br />Tax
<br />SRTC
<br />Tax
<br />Abated
<br />Abated
<br />1
<br />40%
<br />486,749
<br />486,749
<br />$25,007
<br />1,766
<br />$23,241
<br />100%
<br />$23,241
<br />2
<br />56%
<br />681,449
<br />681,449
<br />$35,010
<br />2,473
<br />$32,537
<br />80%
<br />$26,030
<br />3
<br />42%
<br />511,087
<br />511,087
<br />$26,258
<br />1,855
<br />$24,403
<br />60%
<br />$14,642
<br />4
<br />32%
<br />389,399
<br />389,399
<br />$20,006
<br />1,413
<br />$18,593
<br />40%
<br />$7,437
<br />5
<br />24%
<br />292,050
<br />292,050
<br />$15,004
<br />1,060
<br />$13,944
<br />20%
<br />$2,789
<br />$121,285
<br />8,567
<br />$112,718
<br />$74,138
<br />Total Taxes Due During Abatement:
<br />$112,718
<br />Total Taxes Abated During Abatement:
<br />$74,138
<br />Total Taxes Paid During Abatement:
<br />$38,580
<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 />2/8/2008
<br />Tax
<br />Paid
<br />$0
<br />$6,507
<br />$9,761
<br />$11,156
<br />$11,155
<br />$38,580
<br />
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