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standards established by the City, FAA Regulations and any other applicable federal, state or <br />local standards for public airports and the aviation industry. <br />NOW, THEREFORE, in consideration of the mutual covenant contained herein, the City and <br />Operator, do hereby contract and agree as follows: <br />ARTICLE 1 <br />DEFINITIONS <br />1.0.1 Airport means the San Marcos Airport depicted generally in a boundary map <br />attached hereto as Exhibit A. The City will provide copies of deeds if requested <br />by the Operator before the end of the Transition Period. <br />1.0.2 Airport Master Plan is the Plan adopted by the City that is on file with the City <br />Manager and as amended from time to time and is incorporated by reference <br />hereto. <br />1.0.3 Airport Property means all of the real property of the Airport (including without <br />limitation, all improvements, appurtenances, buildings, facilities and fixtures) but <br />excluding real property that is leased to third parties (during the term of any <br />applicable lease). Airport Property shall include, without limitation, all runways, <br />ramps, taxiways, lights, city-owned navigation or navigation aids and/or devices, <br />markings, stripings, fences, boundaries, gates, hangars, buildings, improvements, <br />landscaping, roadways, drainage systems, utility systems, and grounds. <br />1.0.4 Base Year Revenues means the Gross Revenues of the Airport for the Fiscal <br />Year ending September 30, 2010. Base Year Revenues must increase by 4% each <br />year (compounded) for purposes of calculating the Airport Revenue Incentive in <br />Section 6.1.5(a)(2). <br />1.0.5 Capital Improvements means all permanent improvements that are $100,000 or <br />greater in value or have a useful life of five (5) or more years. <br />1.0.6 City Manager means the City Manager of the City or designee. <br />1.0.7 Federal Aviation Administration or FAA means the U.S. Federal Aviation <br />Administration existing pursuant to Title 49 of the United States Code, as <br />amended, or any successor agency thereto. <br />1.0.8 Fiscal year means the consecutive twelve month period from October 1 st through <br />September 30th of the following year. <br />1.0.9 General Administrative Costs means those costs and expenses incurred in the <br />general administration of the Airport. Such costs include but are not limited to <br />