In a medium saucepan over high heat, bring the chicken broth and the water to a boil. While whisking constantly, slowly pour the cornmeal into the hot liquid. Stir in the salt. Lower the heat to cook the mixture at a gentle simmer. Cook, stirring frequently, until the cornmeal is creamy and not grainy, about 30 minutes. Remove the polenta from the heat and stir in the cheese and the butter. Serve.
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