Warranty

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 (10 mm) 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
(45 mm) in diameter;
(ii) Any damage to the paint on the SmartSide products;
and
(iii) Any injury to persons or propert y caused by hail
damaged SmartSide siding products.
c) 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 causing the
SmartSide product damage was 1.75 inch (45 mm) 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 (45 mm) 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) 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) 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.
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
(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:
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