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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 affidavi t if <br />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 /> <br /> <br />NO TE: 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 ap plicable law. <br /> <br />Approved by the CWCB <br />_________ , 200 9 Board Meeting <br />Agenda Item # _____ <br /> 4 <br />