Submitted by Tornado Dragon

The mutant alligator crashes the carnival that the villainous Vincent Brown (Steve Railsback) is holding at Regent Park and sends everyone running for their lives. Amidst the chaos, Vincent grabs all of the contracts signed by the residents selling their homes to him and tries to make his escape, but the Crazy Boys gang stop him on a bridge over the lake. He pulls a gun on the leader Rueben (Julian Reyes) to try to get them to step aside, but David (Joseph Bologna), Rich (Woody Brown), and Hawk (Richard Lynch) show up, and David tries to get Vincent to surrender. Vincent attempts to shoot him, but he deflects the gun, and the gang then sends Vincent over the bridge into the lake. Moments later, the alligator eats him alive.

David, Rich, and Hawk get into a boat and go out to the center of the lake to try to get the alligator, but it knocks them overboard and sinks their boat. A police helicopter comes in and rescues Rich, but Hawk gets attacked by the alligator and gets eaten while fighting it. David then stabs the alligator in its soft spot under its jaw with a harpoon containing a deadly toxin, but it has no effect on the beast, and it retreats into the sewers.

The helicopter then comes back down and saves David, and once back on land, the duo go after the alligator to find its nest, having remembered Hawk saying that it would eventually go back there, but they take a couple of bazookas with them. They find the creature in the marsh nearby, and it starts to swim towards them. David fires a shot from his bazooka that hits the alligator, and that plus the blast detonating some dynamite that the alligator had earlier swallowed blows it to bloody bits.

David and Rich return to the park and get cheers from the crowd, and they hug Christine (Dee Wallace Stone) and Sheri (Holly Gagnier) respectively. As David and Christine walk away, David acknowledges Rich as his partner, and the people begin to get rid of anything advertising Vincent Brown’s company.