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• <br /> Rule 7. Transactional Procedures. <br /> A. After negotiating a lease or option agreement between the seller <br /> and buyer of the deposited water, the seller must provide the water <br /> bank operator and State and Division Engineer with a signed <br /> agreement describing the transaction, including but not limited to <br /> the amount of water, the place of use, and the proposed time of <br /> use. (If needed, the bank will provide a standard agreement form). <br /> If the proposed lease/option shall require delivery of water into a <br /> different distribution system, the seller or buyer shall provide written <br /> consent of the owner or operator of the receiving facility or system, <br /> including any terms or conditions related to the use of such facility <br /> or system.. <br /> B. Within three (3) business days after receipt of the signed lease or <br /> option agreement described above, the State and/or Division <br /> Engineer will provide the seller and buyer with terms and conditions <br /> necessary for implementing the agreement. The terms and <br /> conditions shall include any necessary and/or desirable limitations <br /> upon the time, place or type of use of the water made available <br /> through the water bank, or other terms and conditions as deemed <br /> necessary to prevent injury to vested water rights, including dry-up <br /> • <br /> provisions where applicable. <br /> C. Upon acceptance by the State and Division Engineers of the <br /> agreement, including relevant terms and conditions, the water bank <br /> operator may finalize the agreement between the seller and buyer. <br /> D. A seller of deposited water shall comply with all state and local laws <br /> and regulations regarding land use and vegetation (i.e. weed <br /> control). <br /> E. The water bank shall establish and charge sufficient fees to cover <br /> administrative costs incurred during the operation of the bank. <br /> Rule 8. Quantification Procedures for Water to be Released from the <br /> Bank. <br /> A. Presumptive Factors. The following table indicates presumptive <br /> values for stored water historically applied to ditch service areas as <br /> winter water, Article II water, and/or appropriative storage rights <br /> when deposited in the water bank. No presumptive factors are <br /> proposed for use in connection with waters associated with the <br /> Colorado Canal, Lake Henry, or Lake Meredith for which <br /> quantification procedures have been established by decrees of the <br /> Water Court. Only that portion of each unit of deposited water <br /> determined as consumable through application of the appropriate • <br /> 6 <br />