So I just remembered this after I did some searching about Paramounts and such. When I was getting it from the guy he said that the person who had it made for him originally had it modeled after a Paramount in a high end bike race. The reason im saying this is because the decals on my bike dont seem to be like those on the other Paramounts so I dont know for sure if this is or not. Here are some links to pictures that I just took of it.

Bike as a whole
http://www.flickr.com/photos/arthurj...7615087166531/

Beginning of crack
http://www.flickr.com/photos/arthurj...7615087166531/

Middle of crack, you can see it goes along the joint piece
http://www.flickr.com/photos/arthurj...7615087166531/

End of crack
http://www.flickr.com/photos/arthurj...7615087166531/

Paramount decal
http://www.flickr.com/photos/arthurj...7615087166531/

Schwinn decal
http://www.flickr.com/photos/arthurj...7615087166531/

Best shot of serial I could get, it reads 600D then below is J8496
http://www.flickr.com/photos/arthurj...7615087166531/

So pretty much im not sure if this is actually a Paramount or just something someone made to look like one. Let me know your thoughts tho.