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Page 2 -Policy # 19 <br />Expenditures for ISF Water Acquisitions <br />All lease agreements shall: <br />a. require the lessor to supplement the above-referenced affidavit if <br />the lessor's intent or actions regarding use of the water right during <br />and after the term of the lease change during the term of the lease, <br />including, but not limited to, lessor entering into an agreement for <br />downstream use of the historic consumptive use of the leased water <br />right, or a sale or subdivision of the land upon which the leased <br />water historically has been used; and <br />b. shall establish a mechanism for adjusting the compensation to the <br />lessor based upon such supplementation and change(s). <br />NOTE: Recognizing that future needs and responses to those needs cannot be <br />predicted with certainty, the Colorado Water Conservation Board <br />reserves the right to expend funds for any water acquisition that it <br />determines worthy of funding in accordance with applicable law. <br />Approved by the CWCB <br />2009 Board Meeting <br />Agenda Item # <br />4 <br />