THIS AGREEMENT OF LEASE dated as of the 24th day of June, 1993, made by and between Missouri Boardwalk, Inc. [Midlantic Designee], having an office at 499 Thornall Street, Edison, New Jersey 08837 ("Lessor"), and DONALD J. TRUMP, having an office at 725 Fifth Avenue, New York, New York 10022 ("Lessee").

ARTICLE ONE
DEMISED PREMISES

Lessor, in consideration of the rents and the covenants, agreements, terms and conditions to be paid, observed and fulfilled by Lessee in accordance herewith, does hereby demise and lease to Lessee, and Lessee hereby leases and rents from Lessor, the premises described in Schedule A annexed hereto and made a part hereof, together with all buildings and other improvements now or hereafter located thereon, and all appurtenances related thereto (collectively, the "Leased Premises").

Subject, however, to the following:

1. All present and future Laws affecting the Leased Premises;

2. The condition and state of repair of the Leased Premises as of the date of this Lease; and

3. The matters referred to in Schedule B annexed hereto and made a part hereof, including, without limitation, that certain Option and Right of First Offer Agreement (the "Option") of substantially even date herewith between Lessor and Trump Plaza Associates ("TPA") (the "Permitted Encumbrances").

TO HAVE AND TO HOLD the Leased Premises unto Lessee, his successors and permitted assigns, for and during the term commencing on the date hereof and ending on the earlier to occur of (i) June 30, 1998 or (ii) the sale of the entire Leased Premises by Lessor to TPA, whether pursuant to the Option or otherwise (the "term"). The Term and this Lease shall expire upon the sale of the entire Leased Premises to TPA pursuant to the exercise of the purchase option (but shall not terminate upon the exercise of the right of first offer) contained in the Option.

IT IS HEREBY MUTUALLY COVENANTED AND AGREED between Lessor and Lessee as set forth in the following Articles of this Lease:

ARTICLE TWO
FIXED NET RENT

2.1 Lessee covenants and agrees to pay to Lessor the sum of Three Million One Hundred Twenty Thousand ($3,120,000) Dollars per year throughout the Term, payable in equal monthly installments of Two Hundred Sixty Thousand ($260,000) Dollars, commencing on the date hereof as the fixed net rental for the Leased Premises (the "Fixed Net Rent"). Notwithstanding anything in this Lease to the contrary, Lessee's sole obligation and liability under this Lease shall be the payment of Fixed Net Rent together with any interest thereon as provided in Section 2.4, which obligation of Donald J. Trump, as the original Lessee, shall be released as provided in Section 22.1 hereof.

2.2 The monthly installments of Fixed Net Rent shall be paid in advance, by Lessee to Lessor, without set off, abatement or deduction of any kind whatsoever, on the 1st day of each and every calendar month at the address herein set forth for delivery of notices, in cash or by good check drawn on a bank which is a member of the New York Clearing House.

2.3 Fixed Net Rent shall be net to Lessor. All costs and expenses of every kind and nature whatsoever relating to the Leased Premises (other than the payment of Fixed Net Rent prior to TPA's assumption of the Lessee's interest hereunder and the payment of debt service on any Fee Mortgages now existing or hereafter entered into) shall be paid by TPA pursuant to the Option and none of same shall be the obligation or liability of Lessee, whether as primary obligor, equity owner of a partner of TPA, guarantor or otherwise, nor shall Lessee be entitled to any set off, abatement or deduction against Fixed Net Rent as a result of TPA's failure to pay such costs and expenses. Lessee hereby consents to the Option, the rights granted to TPA and others as set forth therein and the exercise by TPA and such others of their respective rights and obligations thereunder and agrees that a default under the Option shall constitute a default under this Lease.

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