Document:

Exhibit 10.13.7

                    NOTE RESTRUCTURE AND ASSUMPTION AGREEMENT

         THIS AGREEMENT is made and entered into this 24th day of October, 2001
by and between Gerald M. Larson ("Larson"), Larson Holdings, Inc., a Utah
corporation, ("Larson Holdings"), The Murdock Group Holding Corporation, a Utah
corporation ("Murdock"), Clear Capital Holdings, Inc., a Utah corporation
("CCH"), Pelican Point Rock Products, Inc., a Utah corporation ("Pelican" and
collectively with Larson, Larson Holdings, Murdock and CCH, the "Borrowers") and
Headwaters Incorporated, a Delaware corporation ("Headwaters").

                                    RECITALS

                  A. Pursuant to a Note Restructure Agreement dated January 26,
2001, Larson issued to Headwaters a Promissory Note dated January 26, 2001 in
the original principal amount of One Million Seven Hundred Fifty Thousand
Dollars (the "Original Note").

                  B. In June, 2001, Larson Holding's subsidiary Larson
Limestone, Inc. ("LLI") sold substantially all of its assets to CCH in exchange
for cash, assumption of the Original Note and other debt and the issuance of
shares in Murdock valued at $2,550,000. As a result of such sale, the Original
Note became immediately due and payable.

                  C. The Borrowers have proposed that the Original Note be
restructured such that (i) Larson makes an immediate payment of $750,000 of
principal and Headwaters forgive any accrued interest, (ii) Murdock makes a
further $550,000 principal reduction through the issuance to Headwaters of
Murdock common stock, (iii) $250,000 of the remaining principal balance will be
the primary responsibility of Murdock, guaranteed by Larson, Larson Holdings,
Murdock, CCH, and Pelican (iv) $200,000 of the remaining principal will be the
primary responsibility of Murdock, guaranteed by CCH and Pelican, and (v)
Pelican will secure its guarantee of the $250,000 Murdock note and the $200,000
Murdock note by a security interest in the limestone plant and related real
property acquired from LLI; provided that Headwaters agrees to subordinate such
security interest to certain bank financing described below. Headwaters is
willing to accede to such request on the terms and conditions described below.

         NOW THEREFORE, in consideration of the premises, the covenants and
conditions contained herein and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties agree to be
legally bound as follows:

         1. The Borrowers shall deliver to Headwaters, and Headwaters shall
accept from the Borrowers, in full satisfaction of the Original Note, the
following:

                           (a) A payment in cash, cashier's check or wire
                  transfer of immediately available funds in the amount of
                  $750,000 to be applied against the principal of the Original
                  Note through the effective date of the restructure (as defined
                  below).

                           (b) A new Promissory Note in the original principal

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                  amount of $250,000 (the "$250,000 Note") in the form attached
                  hereto as Exhibit "A" signed by Murdock and guaranteed by
                  Larson, Larson Holdings, CCH, and Pelican.

                           (c) A new Promissory Note in the original principal
                  amount of $200,000 (the "$200,000 Note") in the form attached
                  hereto as Exhibit "B" signed by Murdock and guaranteed by CCH
                  and Pelican.

                           (d) A Trust Deed from Pelican relating to the LLI
                  limestone plant and real property securing Pelican's
                  guaranties of the $250,000 Note and the $200,000 Note in the
                  form attached hereto as Exhibit "C".

                           (e) A lender's policy of Title Insurance from a
                  reputable title insurance company doing business in Utah
                  insuring Headwaters' interest under the Trust Deed in form and
                  substance satisfactory to Headwaters.

                           (f) Certificate(s) for 1,122,449 restricted common
                  shares of Murdock (the "Murdock Shares"), valued at
                  $550,000.00 based on a $0.4899999 per share price for the
                  Murdock common shares (which per share price is the same as
                  the per share price use to calculate Murdock shares
                  deliverable to Larson by Murdock as a part of the merger
                  transaction). The Murdock Shares will be entitled to the
                  benefit of the Registration Rights Agreement attached hereto
                  as Exhibit "D".

         2. The effective date of the restructure shall be such time as
Headwaters has received the funds and documents set forth in Paragraphs 1(a)
through (f) duly executed in form acceptable to it. Upon the effective date of
the restructure, Headwaters (i) will mark the Original Note as "paid in full" or
"canceled" and deliver it to Larson; (ii) will deliver to Larson the stock of
Larson Holdings held pursuant to a Stock Pledge and Security Agreement from
Larson, such agreement being of no further force or effect; and (iii) will
deliver to Larson Holdings the stock of LLI held pursuant to a Stock Pledge and
Security Agreement from Larson Holdings, such agreement being of no further
force or effect.

         3. If the effective date of the restructure does not occur by October
31, 2001, Headwaters may notify Larson and Murdock that it is terminating this
Agreement and Headwaters may immediately thereafter enforce its rights and
remedies under the Original Note and Murdock's agreement to assume the Original
Note.

         4. Larson and Larson Holdings, jointly and severally, represent and
warrant to Headwaters as follows:

                  (a) The guaranty of the $250,000 Note by Larson and Larson
         Holdings and this Agreement have been duly authorized by all necessary
         corporate action on the part of Larson and Larson Holdings,
         respectively, and such agreements are binding upon Larson and Larson
         Holdings, respectively in accordance with their terms.

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                  (b) Larson acknowledges that Headwaters' forgiveness of the
         accrued interest on the Original Note may be deemed forgiveness of
         indebtedness income to Larson.

         5. Murdock, CCH and Pelican, jointly and severally, represent and
warrant to Headwaters as follows:

                  (a) The $250,000 Note, the $200,000 Note, the guaranties, the
         Trust Deed, the Registration Rights Agreement and this Agreement have
         been duly authorized by all necessary corporate action on the part of
         Murdock, CCH and Pelican, respectively, and such agreements are binding
         upon Murdock, CCH and Pelican respectively in accordance with their
         terms.

                  (b) The Murdock Shares have been duly authorized by Murdock
         and shall be duly issued, fully paid and non-assessable. On the
         effective date of the restructure, the Murdock Shares will represent
         ____% of Murdock's issued and outstanding common stock and a ____%
         interest in Murdock on a fully-diluted basis.

                  (c) Murdock has provided Headwaters with all of its reports
         and other documents filed, or required to be filed, during the past
         fourteen months with the Securities and Exchange Commission pursuant to
         the Securities Exchange Act of 1934 (the "Exchange Act"). CCH does not
         file reports under the Exchange Act, but has provided Headwaters with
         all of its filings with the Securities and Exchange Commission pursuant
         to the Securities Act of 1933. Except as maybe supplemented in writing
         by Murdock, Murdock's Exchange Act filings and CCH's Securities act
         filings do not, and at the effective date of the restructure will not,
         contain any misstatement of material fact, or omit to state any
         material fact required to be stated therein or necessary to keep the
         statements therein from becoming misleading.

                  (d) The limestone plant and real property described in the
         Trust Deed are owned by Pelican free and clear of all liens and
         encumbrances other than a first priority lien in favor of Zions First
         National Bank (the "Bank Interest") securing a Promissory Note dated
         October 19, 2001 in the original principal amount of $2,940.000.00. CCH
         is not in default with respect to the Bank Interest.

                  (e) Pelican has been duly formed and is currently in good
         standing as a corporation under the laws of the state of Utah. Pelican
         is a 100% owned subsidiary of CCH. Pelican acknowledges that it has
         received good and valuable consideration for its guarantee of the
         Murdock Note and the granting of the Trust Deed in that the Murdock
         Note represents part of the purchase price for the limestone plant
         which Pelican obtained from CCH.

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         6. Headwaters represents and warrants to Murdock that it is an
"accredited investor" (as defined in Rule 501 of Regulation D promulgated by the
Securities and Exchange Commission) and has the financial and business
experience necessary to evaluate the merits and risks of its investment
represented by Murdock Shares.

         7. The parties to this Agreement will execute, acknowledge and deliver
all such instruments and take all such action as may be reasonably requested by
the other party in order to further effectuate the purposes of this Agreement
and to carry out the terms hereof.

         8. This Agreement shall inure to the benefit of and shall be binding
upon the heirs, personal representatives and successors of the parties hereto.

         9. This Agreement and the rights and obligations hereunder shall be
construed in accordance with and governed by the laws of the State of Utah
without regard to principles of conflicts of law.

         10. This Agreement may be executed in multiple counterpart, which taken
together shall constitute a single instrument.

         11. This Agreement, together with the $250,000 Note, the $200,000 Note,
the guaranties, the Registration Rights Agreement and the Trust Deed (together,
the "Transaction Documents") contain all covenants, terms, provisions, and
agreements between the parties hereto or thereto relating to the subject matter
of the Transaction Documents. No prior agreement with respect to the same shall
be of any force or effect, and no covenant, term, provision, or agreement of any
Transaction Document may be modified except in a writing executed by all parties
to the Transaction Documents.

                  IN WITNESS WHEREOF, the parties hereto have duly executed this
Agreement as of the day and year first above written.

                                            /s/Gerald M. Larson
                                            Gerald M. Larson

                                            LARSON HOLDINGS, INC.

                                            By:/s/Gerald M. Larson, CEO

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<PAGE>

                                            THE MURDOCK GROUP HOLDING
                                            CORPORATION

                                            By:/s/K.C. Holmes, CEO

                                            CLEAR CAPITAL HOLDINGS, INC.

                                            By:/s/Lance Heaton, CEO

                                            PELICAN POINT ROCK PRODUCTS, INC.

                                            By:/s/Lance Heaton, Pres.

                                            HEADWATERS INCORPORATED

                                            By:/s/Brent M. Cook

                                        5Exhibit 10.13.8

                                 PROMISSORY NOTE

$250,000.00                                                           LEHI, UTAH
                                                                October 24, 2001

         FOR VALUE RECEIVED, THE MURDOCK GROUP HOLDING CORPORATION
(hereinafter referred to as "Maker"), promises to pay to the order of Headwaters
Incorporated, a Delaware corporation, or to its successors and assigns
(hereinafter referred to as "Lender") the principal sum of Two Hundred Fifty
Thousand Dollars ($250,000.00) together with interest on the unpaid principal
balance outstanding from time to time, all as hereinafter set forth.

         Interest shall begin to accrue as of October 1, 2001 on the principal
amount outstanding from time to time until and after the maturity hereof
(whether by stated maturity, acceleration or otherwise) and shall be payable at
the rate of six percent (6%) per annum simple interest based on a three hundred
sixty (360) day year comprised of twelve (12) thirty (30) day months.

         The entire balance of principal and accrued interest shall be due and
payable in a single balloon payment on or before December 31, 2003.

         Payments of both principal and interest shall be paid in lawful money
of the United States of America in immediately available funds at such place as
Lender may from time to time designate. Except as otherwise provided in this
Note, if any payment of principal and/or interest due hereunder is not paid
within thirty (30) days after its due date ("Payment Default"), Maker shall pay
to Lender on demand a late charge equal to five percent (5%) of the amount of
such payment. Upon Payment Default continuing for ten (10) days after written
notice is given by the Lender hereof to the guarantor to cure the Payment
Default, then the entire unpaid principal sum and accrued interest due shall
become immediately due and payable. To the extent permitted by applicable law,
all amounts which are not paid when due as provided in this Note shall bear
interest at ten percent (10%) per annum, simple interest payable monthly.

         The prompt payment and performance of this Note is jointly and
severally guaranteed by Gerald Larson, Larson Holdings, Inc., Clear Capital
Holding, Inc., and Pelican Point Rock Products, Inc. The guaranty of Pelican
Point Rock Products, Inc. is secured by a Trust Deed of even date from Pelican
Point Rock Products, Inc. as Trustor (the "Security Agreement").

         This Note may be prepaid in whole at any time or in part from time to
time without premium or penalty. Notwithstanding anything herein to the
contrary, the entire balance of principal and accrued interest shall become
immediately due and payable upon the occurrence of any one or more of the
following events:

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         (i)      The sale by Clear Capital Holding, Inc. or Pelican Point Rock
                  Products, Inc. of all or substantially all of the limestone
                  plant and related real property it has acquired from a
                  subsidiary of Larson Holding, Inc.

         (ii)     Any default by Maker ,any guarantor, or pursuant to the
                  Security Agreement after the expiration of any notice periods
                  and opportunities to cure expressly stated therein.

         All payments hereunder shall be applied first to the payment of accrued
and unpaid interest and the balance to the payment of principal.

         Maker agrees to pay to Lender, and reimburse Lender for, any and all
costs and expenses, including reasonable attorneys' fees and court costs, if
any, incurred by Lender in connection with the enforcement or collection hereof,
both before and after the commencement of any action by Lender. Maker and all
guarantors waive presentment, protest and demand, notice of protest, notice of
dishonor and nonpayment of this Note and expressly agree that this Note or any
payment hereunder may be extended from time to time without in any way affecting
the liability of Maker or such guarantor hereunder.

         The rights and remedies of Lender hereunder and under the Agreement
shall be cumulative and concurrent and may be pursued singularly, successively
or together at the sole discretion of Lender, and may be exercised as often as
occasion therefor shall occur, and the failure to exercise any such right or
remedy shall in no event be construed as a waiver or release of the same or any
other right or remedy.

         In the event any provision of this Note (or any part of any provision)
is held by a court of competent jurisdiction to be invalid, illegal, or
unenforceable in any respect, such invalidity, illegality, or unenforceability
shall not affect any other provision (or remaining part of the affected
provision) of this Note; but this Note shall be construed as if such invalid,
illegal, or unenforceable provision (or part thereof) had not been contained in
this Note, but only to the extent it is invalid, illegal, or unenforceable.

         This Note, having been executed and delivered in the State of Utah, as
of the date first written above, is to be governed by, construed under and
enforced in all respects according to laws of the State of Utah, excluding its
principles of conflicts of laws.

         IN WITNESS WHEREOF, the Maker has executed this Promissory Note the
date and year first above written.

                                         THE MURDOCK GROUP HOLDING CORPORATION

                                         By /s/K. C. Holmes, CEO

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                                    GUARANTY

         The undersigned Gerald Larson and Larson Holdings, Inc., jointly and
severally, hereby guarantee to Headwaters Incorporated, its successors and
assigns, the prompt payment and performance of the foregoing Promissory Note of
The Murdock Group Holding Corporation. This is a guaranty of performance, and
accordingly the Lender need not exhaust its remedies against Maker or any other
guarantor before proceeding on this Guaranty. The obligation of the undersigned
with respect to this Guaranty is joint and several with the obligation of the
other guarantors. The validity of this Guaranty shall not be affected by any
extension or modification of the foregoing Promissory Note or any amendment or
waiver of any other guaranty.

         Dated this 24th day of October, 2001.

                                                     /s/Gerald Larson
                                                     Gerald Larson

                                                     LARSON HOLDINGS, INC.

                                                     By:/s/Gerald Larson

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                                    GUARANTY

         The undersigned Clear Capital Holding, Inc. and Pelican Point Rock
Products, Inc., jointly and severally, hereby guarantee to Headwaters
Incorporated, its successors and assigns, the prompt payment and performance of
the foregoing Promissory Note of The Murdock Group Holding Corporation. This is
a guaranty of performance, and accordingly the Lender need not exhaust its
remedies against Maker or any other guarantor before proceeding on this
Guaranty. The validity of this Guaranty shall not be affected by any extension
or modification of the foregoing Promissory Note or any amendment or waiver of
any other guaranty. This Guaranty is secured by a Trust Deed of even date from
Pelican Point Rock Products, Inc. as Trustor.

         Dated this 24th day of October, 2001.

                                               CLEAR CAPITAL HOLDINGS, INC.

                                               By:/s/Lance Heaton, CEO

                                               PELICAN POINT ROCK PRODUCTS, INC.

                                               By:/s/Lance Heaton, Pres.

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