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Tax Abatement Schedule prepared for: 15-Feb-07 <br />MHM REALTY, LLC <br />TRIO'S RESTAURANT <br />South Bend Portage Township 6 Year Real Property Abatement Schedule* <br />Total estimated Project Cost: $586,087 <br />Base Assessed Value: $498,174 <br />(base assessed value is estimated at 85% of project cost) <br />Assume constant tax rate of: 5.1524% <br />Assume constant SRTC of: 21.6906% <br /> Assessed Gross Less Net Percent Tax Tax <br />Year Value Tax SRTC Tax Abated Abated Paid <br />1 $498,174 $25,668 $5,568 $20,100 100% $20,100 $0 <br />2 498,174 25,668 5,568 20,100 85% 17,085 3,015 <br />3 498,174 25,668 5,568 20,100 66% 13,266 6,834 <br />4 498,174 25,668 5,568 20,100 50% 10,050 10,050 <br />5 498,174 25,668 5,568 20,100 34% 6,834 13,266 <br />6 498,174 25,668 5,568 20,100 17% 3,417 16,683 <br /> $120,600 $70,752 $49,848 <br /> Total Taxes Due During Abatement: $120,600 <br /> Total Taxes Abated During Abatement: 70,752 <br /> Total Taxes Paid During Abatement: 49,848 <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 />