Warranty Guide

b) Hail Damage Limited Warranty. LP warrants that its
LP® SmartSide® Products will resist damage from hail
when properly installed and maintained according to
the LP application instructions in eect at the time of
installation. Damage under this Hail Damage Limited
Warranty is dened as a crack, chip or dent in the surface
overlay exceeding 3/8 inch in length or diameter and is
subject to the exclusions listed below.
Reimbursement by LP for damage to the SmartSide
product is limited to the remedies in this Hail Damage
Limited Warranty, and the property owner must follow
the procedure in this Hail Damage Limited Warranty.
The following damages are excluded:
(i) Any damage caused by hail greater than 1.75 inches
in diameter;
(ii) Any damage to the paint on the SmartSide products;
and
(ii) Any injury to persons or property caused by hail
damaged SmartSide siding products.
Procedure; Proof of Damages; and Amounts to be paid by LP:
(i) The property owner shall rst make a claim on their
property owners insurance, or other applicable
insurance policy, and pursue the cost of replacement
or repair of the damaged siding. Proof of such
claim and its disposition for less than the full cost
of replacement or repair for the damaged siding
must be provided to LP, and property owner must
also arm that no other claims for the hail damage
occurrence were made or are pending.
(ii) The property owner shall provide evidence to LP
through a reliable third party such as the National
Oceanic and Atmospheric Administration Storm
Prediction Center (NOAASPC) that the hail that
caused the SmartSide product damage was 1.75 inch
in diameter or less.
(iii) Upon receipt of evidence that the insurance claim
proceeds for repair or replacement of the SmartSide
product were insucient to fully repair or replace
the SmartSide products, and the evidence that the
hail causing the damage was 1.75 inches or less, LP
will pay the property owner an amount calculated as
follows:
Amount of payment by LP to property owner =
A – B + C
Where the variables A, B and C are dened as:
A is the product replacement cost dened as the then
current sales price per square foot for the same or
similar SmartSide products, in the same geographic
region as the property, multiplied by the square feet
of damaged SmartSide product;
B is the homeowner’s deductible (if one is applied
by the insurance company) plus the portion of the
insurance payment received by the property owner
specically for the hail-damaged SmartSide products;
C is the prorated deductible determined by
multiplying the total deductible applied by the
insurance company and the fraction created by
dividing the amount of insurance payment paid
specically for the SmartSide products by the total
amount of insurance paid for the hail damage claim.
If there is no deductible applied, then C will be zero,
and if there is no damage other than SmartSide
products, then the fraction will be one (1).
(iv) The amount to be paid by LP, as calculated above,
will be reduced according to the proration schedule
in Section 2 of the LP® SmartSide® Siding and Trim
Limited Warranty. No other costs incurred by the
property owner relating to damaged siding, including
but not limited to siding removal, disposal, house
wrap, or labor costs will be reimbursed under this
limited warranty.
2. Remedies for Breach of Limited Express Substrate
Warranty
THIS SECTION 2 PROVIDES THE SOLE AND EXCLUSIVE REMEDY
AVAILABLE TO A PURCHASER OR OWNER OF A STRUCTURE ON
WHICH PRODUCT(S) HAS BEEN APPLIED.
In the event of a breach of this Limited Express Warranty (or of
any implied warranty not otherwise disclaimed herein), LP will:
a) during the rst 5 years from the date of installation,
pay an amount equal to the cost (as established by an
independent construction estimator, such as R.S. Means)
of repairing or replacing any Product(s) that fails to
comply with the provisions of Section 1 a) or 1 b) above,
or
b) during the 6th through the 49th years from the date of
installation, pay an amount equal to the cost of similar
wood based replacement product, (no labor or other
charges shall be paid) less an annual pro rata reduction of
2.22% per year (6th year, 2.22%; 7th year, 4.44%, etc.) such
that from and after the 50th year the amount payable
under this warranty will be zero.
Any dispute concerning the applicability of the warranty
or whether the Product(s) met the manufacturer’s
standards in accordance with Section 1 shall be
submitted to binding arbitration under the Commercial
Arbitration Rules of the American Arbitration Association.
The jurisdiction of the arbitrator over the dispute shall
be exclusive and the decision of the arbitrator shall be
binding and non-appealable.