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Tax Abatement Schedule prepared for:
<br />PEI-GENESIS, INC.
<br />South Bend German 5 Year Personal Property Abatement Schedule"
<br />Total estimated Equipment Cost: $3,500,000
<br />Assume constant tax rate of: 4.874
<br />Assume constant SRTC rate of: 7.9223
<br /> TTV Assessed Gross Less Net Percent Tax
<br />Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated
<br />1 40% 1,400,000 1,400,000 $68,236 5,406 $62,830 100% $62,830
<br />2 56% 1,960,000 1,960,000 $95,530 7,568 $87,962 80% $70,369
<br />3 42% 1,470,000 1,470,000 $71,648 5,676 $65,972 60% $39,583
<br />4 32% 1,120,000 1,120,000 $54,589 4,325 $50,264 40% $20,106
<br />5 24% 840,000 840,000 $40,942 3,244 $37,698 20% $7,540
<br /> $330,945 26,218 $304,727 $200,428
<br />Total Taxes Due During Abatement: $304,727
<br />Total Taxes Abated During Abatement: $200,428
<br />Total Taxes Paid During Abatement: $104,298
<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 />6/16/2006
<br />Tax
<br />Paid
<br />$0
<br />$17,592
<br />$26,389
<br />$30,159
<br />$30,159
<br />$104,298
<br />~i ^t ~~ ~~ t ro
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<br />~ur~ 2 0 2006
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