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Tax Abatement Schedule prepared for:
<br />USF HOLLAND INC.
<br />South Bend Portage Township 6 Year Real Property Abatement Schedule*
<br />29- Feb -00
<br />Total estimated Project Cost:
<br />$6,000,000
<br />Base Assessed Value:
<br />$2,000,000
<br />(for assessed value - assume 1/3 of project cost)
<br />Assume constant tax rate of:
<br />17.9396
<br />Assume constant SRTC of:
<br />15.6332
<br />Assessed Gross
<br />Less
<br />Net
<br />Percent
<br />Tax
<br />Tax
<br />Year Value Tax
<br />SRTC
<br />Tax
<br />Abated
<br />Abated
<br />Paid
<br />1 $2,000,000 $358,792
<br />$56,091
<br />$302,701
<br />100%
<br />$302,701
<br />$0
<br />2 2,000,000 358,792
<br />56,091
<br />302,701
<br />85%
<br />257,296
<br />45,405
<br />3 2,000,000 358,792
<br />56,091
<br />302,701
<br />66%
<br />201,801
<br />100,900
<br />4 2,000,000 358,792
<br />56,091
<br />302,701
<br />50%
<br />151,351
<br />151,351
<br />5 2,000,000 358,792
<br />56,091
<br />302,701
<br />34%
<br />102,918
<br />199,783
<br />6 2,000,000 358,792
<br />56,091
<br />302,701
<br />17%
<br />51,459
<br />251,242
<br />$1,816,208
<br />$1,067,527
<br />$748,681
<br />Total Taxes Due During Abatement: $1,816,208
<br />Total Taxes Abated During Abatement: $1,067,527
<br />Total Taxes Paid During Abatement: 748,681
<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 />Filed In Clerk's 0 l ice
<br />MAR 0 8 2000 j
<br />IANETfA J. Ixli;/
<br />WYCLENK, so Ii ru;, s
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