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<br />1) A modifiable portion (Paragraph 4) which maybe modified by the Board <br />from ISF uses to development uses. The modifiable portion is the second <br />level of development allowance (Carve Out II) which will be available for <br />future consumptive uses. <br /> <br />2) A non-modifiable portion (Paragraph 3) which consists of water that must <br />flow out of Colorado because of compact obligations, and <br /> <br />Administration <br /> <br />Division Engineer/CWCB track consumptive use under water rights junior to the ISF <br />right. <br /> <br />ISF right is not administered with respect to the junior water rights until the first <br />development allowance, (Carve I), distributed on a monthly basis, is used up. <br /> <br />When the first development allowance (Carve Out I) has been used up on either a monthly <br />or annual basis the ISF right is in priority and a call will be placed, except as noted below, <br />for all available flow. <br /> <br />If the first development allowance is not sufficient to meet water development needs the <br />Board would be able to convert Paragraph 4 water from ISF uses to consumptive uses. <br />Such modified water would not be subject to call. <br /> <br />c:\ wp61 \miscel\su603iii .all <br /> <br />Option III - 2 <br />