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Tax Abatement Schedule prepared for: <br />SCRAPER GEAR WORKS, INC. <br />South Bend German 5 Year Personal Property Abatement Schedule* <br />Total estimated Equipment Cost: $843,000 <br />Assume constant tax rate of: 5.1376 <br />Assume constant SRTC rate of: 7.0636 <br /> TTV Assessed Gross Less Net Percent Tax <br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated <br />1 40% 337,200 337,200 $17,324 1,224 $16,100 100% $16,100 <br />2 56% 472,080 472,080 $24,254 1,713 $22,541 80% $18,033 <br />3 42% 354,060 354,060 $18,190 1,285 $16,905 60% $10,143 <br />4 32°l0 269,760 269,760 $13,859 979 $12,880 40% $5,152 <br />5 24% 202,320 202,320 $10,394 734 $9,660 20% $1,932 <br /> $84,021 5,935 $78,086 $51,360 <br />Total Taxes Due During Abatement: $78,086 <br />Total Taxes Abated During Abatement: $51,360 <br />Total Taxes Paid During Abatement: $26,726 <br />1 /15/2007 <br />Tax <br />Paid <br />$0 <br />$4,508 <br />$6,762 <br />$7,728 <br />$7,728 <br />$26,726 <br />" -This schedule is for estimation purposes only and assumes constant tax rates. <br />The true tax values will ulimately be determined by the actual <br />assessed valuation and the then current tax rates. <br />