New Jersey-Atlantic City Sublease - Missouri Boardwalk Inc. and Donald J. Trump
SUBLEASE
THIS SUBLEASE is made as of this 24 day of June, 1993 by and between
Missouri Boardwalk, Inc., a New Jersey corporation, having its principal office
located c/o Midlantic National Bank, 499 Thornall Street, Metro Park Plaza,
Edison, New Jersey 08837 (hereinafter referred to as "Sublandlord"), and DONALD
J. TRUMP, having an office at 725 Fifth Avenue, New York, New York 10022
(hereinafter called "Subtenant").
WITNESSETH:
1. Property. The Subtenant agrees to rent from the Sublandlord and
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the Sublandlord agrees to Sublease to the Subtenant the property known as Block
38, Lot 1 on the Official Tax Map of the City of Atlantic City and more
particularly described as Exhibit A attached hereto and made a part
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hereof (hereinafter referred to as the "Property").
2. Use of the Property. The Subtenant may use the Property for any
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lawful purpose and as permitted under the Master Lease as hereinafter defined.
3. Master Lease.
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3.1 The terms and conditions of that certain Amended Lease dated
March 9, 1979 and April 9, 1979 in Deed Book 3332, Page 33 et seq. in the
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Atlantic County Clerk's Office (hereinafter referred to as the "Amended
Lease") between Albert Rothenberg and Robert Rothenberg, as Lessors
("Lessors") and Boardwalk Properties, Inc. ("Boardwalk"), as assigned by
Boardwalk to Subtenant by Assignments dated March 18, 1984 and May 18,
1989, which assignments were recorded on March 20, 1989 and June 19, 1984
in the office of the Clerk of Atlantic County in Book 4865 of Deeds at Page
223 et seq., and Book 4921 of Deeds at Page 183 et seq., respectively
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(collectively, the "Assignments"), and subsequently assigned by Subtenant
to Sublandlord by that certain Assignment of Lease dated of even date
herewith (the "Lease Assignment") are incorporated herein by reference.
The Amended Lease, Assignments and Lease Assignment are hereinafter
collectively referred to as the "Master Lease".
3.2 Subtenant shall have all the rights of the lessee under the
Master Lease.
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3.3 Sublandlord shall have all the rights and obligations of the
lessor under the Master Lease.
4. Term. The term of this Sublease shall commence on the date hereof and
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shall be coterminous with the term of that certain Agreement of Lease dated of
substantially even date herewith, between Sublandlord, as landlord, and
Subtenant, as tenant, demising certain property adjoining the Property (the
"Adjoining Lease"). If, for any reason, the Adjoining Lease is terminated, this
Sublease shall also be automatically terminated at the same time and without any
obligation or liability of Sublandlord to Subtenant as a result thereof, subject
to the rights, set forth in that certain Option and Right of First Refusal
Agreement of substantially even date herewith between Sublandlord and Trump
Plaza Associates ("TPA"), of TPA or First Bank National Association, as Trustee,
to receive a new sublease of the Property from Sublandlord substantially similar
in form to this Sublease.
5. Rent. Rent, additional rent and all taxes, assessments and other
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charges set forth in Section 1 and elsewhere in the Master Lease shall be paid
in amounts specified in the Master Lease and shall constitute all rents and
additional rents due under this Sublease. Subtenant shall make all payments
owed under the Master Lease, including rent and additional rent, directly to
Lessors under the Master Lease.
6. Default by Subtenant. The default by Subtenant of any of the terms,
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provisions, covenants or conditions of either the Master Lease or the Adjoining
Lease shall constitute a default hereunder. In the event of such a default, or
of any violation of this Sublease, Sublandlord shall have and may exercise
against Subtenant all of the rights and remedies available to Lessor under the
Master Lease or available to Sublandlord under the Adjoining Lease. In
addition, in such event, Sublandlord may, but shall not be obligated to, without
further notice to Subtenant, perform the same for the account of Subtenant, and
if Sublandlord makes any expenditures or incurs any obligations for the payment
of money in connection therewith including, but not limited to reasonable
attorneys' fees, such sums paid or obligations incurred shall be deemed to be
additional rent hereunder payable directly to Sublandlord.
7. Validity of Lease. If a clause or provision of this Sublease is
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legally invalid, the rest of this Sublease remains in effect.
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<PAGE>
8. Parties. The Sublandlord and Subtenant are bound by this Sublease.
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All parties who lawfully succeed to their rights and responsibilities are also
bound.
9. Entire Lease. This Sublease constitutes the entire Agreement between
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the parties. This Sublease can only be changed by an agreement in writing
signed by both the Subtenant and the Sublandlord.
IN WITNESS WHEREOF, the Subtenant and Sublandlord have each executed this
Sublease on the day and year first hereinabove written.
Witness or Attest: SUBTENANT:
/s/ /s/
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Name:__________________ DONALD J. TRUMP
Witness or Attest: SUBLANDLORD:
/s/
----------------------- MISSOURI BOARDWALK, INC.
Name: William R. Kendall _______________________
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By: /s/
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Name: Ben Berzin, Jr.
Title: Vice President
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<PAGE>
STATE OF NEW YORK :
: SS.
COUNTY OF NEW YORK :
I certify that on June 23, 1993, DONALD J. TRUMP personally came before me
and acknowledged under oath, to my satisfaction, that he:
(a) Is the person named in and who signed this Sublease; and
(b) Signed and delivered this Sublease as his voluntary act and deed.
My Commission Expires:
Rosemary Vasallo /s/
Notary Public, ------------------------
State of New York A Notary Public
No. 41-5001626 Of The State of New York
Qualified in Queens County
Commission Expires 9/14/94
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<PAGE>
STATE OF NEW YORK :
: SS.
COUNTY OF NEW YORK :
I CERTIFY that on June 23, 1993, BEN BERZIN, JR. personally came before me
and this person acknowledged under oath, to my satisfaction, that:
(a) This person signed, sealed and delivered the attached document as
the Vice President of Missouri Boardwalk, Inc. a corporation of
the State of New Jersey;
(b) This document was signed and made by the Corporation as its
voluntary act and deed by virtue of authority from its Board of
Directors.
My Commission Expires:
Evan K. Gordon /s/
Notary Public, ---------------------------
State of New York A Notary Public Of The
Qualified in Bronx County State of New York
Certificate filed in New York County
Commission Expires August 27, 1994
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<PAGE>
EXHIBIT A
ALL THAT CERTAIN LOT, tract or parcel of land and premises situate, lying and
being in the City of Atlantic City, County of Atlantic and State of New Jersey,
bounded and described as follows:
PARCEL B: BEGINNING at the Southwesterly corner of Pacific Avenue (60 feet
wide) and Missouri Avenue (50 feet wide); and extending thence
(1) South 27 degrees 28 minutes 00 seconds East, in and along the Westerly line
of Missouri Avenue, 182.10 feet; thence
(2) South 62 degrees 32 minutes 00 seconds West, parallel with Pacific Avenue,
75.00 feet; thence
(3) North 27 degrees 28 minutes 00 seconds West, parallel with Missouri Avenue,
82.10 feet; thence
(4) North 62 degrees 32 minutes 00 seconds East, parallel with Pacific Avenue,
15.00 feet; thence
(5) North 27 degrees 28 minutes 00 seconds West, parallel with Missouri Avenue,
100.00 feet to the Southerly line of Pacific Avenue; thence
(6) North 62 degrees 32 minutes 00 seconds East, in and along the Southerly line
of Pacific Avenue, 60.00 feet to the point and place of BEGINNING.
BEING KNOWN AS Lot 1 in Block 38 as shown on the tax map of the City of Atlantic
City.
TOGETHER WITH all of the right, title and interest in and to the lands lying in
the bed of any street, alley or highway in front of, adjoining or abutting the
above-described premises.
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