Document:

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                                                                  Exhibit 10.35

                            PROMISSORY NOTE
                       SECURED BY DEED OF TRUST

$153,453.00                                                   February 13, 1999
                                                            Alameda, California

     FOR VALUE RECEIVED, the undersigned, Bill X. Huang ("Employee") and
Minnie Huang, husband and wife, as joint tenants (jointly and severally, the
"Borrower"), promise to pay to UTSTARCOM, INC., a Delaware corporation
("Lender"), at 1275 Harbor Bay Parkway, Alameda, California 94502 (or at such
other place as Lender may from time to time designate by written notice to
Borrower), in lawful money of the United States, the principal sum of ONE
HUNDRED FIFTY-THREE THOUSAND FOUR HUNDRED FIFTY-THREE DOLLARS ($153,453.00),
on the following terms:

     1.   PAYMENT: Upon the occurrence of a Maturity Event (as defined
herein), the entire principal amount of ONE HUNDRED FIFTY-THREE THOUSAND FOUR
HUNDRED FIFTY-THREE DOLLARS ($153,453.00) shall be immediately due and
payable in lawful money of the United States.

     2.   SECURITY: This Note is secured by a deed of trust of even date
herewith made by Borrower, as trustor, to First American Title Insurance
Company, as trustee, for Lender, as beneficiary (the "Deed of Trust") which
shall be recorded in the Official Records of the County of Alameda, State of
California encumbering certain real property commonly known as 230 Sweet

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Road, in the City of Alameda, County of Alameda, State of California (the
"Property"), described with particularity in the Deed of Trust.

     3.   MATURITY EVENT: Upon the occurrence of a Maturity Event (as
hereinafter defined), the entire principal amount of the Loan and any other
sums due hereunder, shall become immediately due and payable without further
demand or notice to Borrower. To the extent permitted by law, any of the
following events shall be a "Maturity Event" under this Note and the Deed of
Trust:
          (a)   The date of termination or cessation of Borrower's employment
with the Company for any reason, whether voluntary or involuntary, and
whether with cause or without cause.

          (b)   There shall occur any default in the performance of any
obligation of Borrower contained in the Deed of Trust or the First Deed of
Trust, as defined herein below, or any other deed of trust, security
agreement or other agreement (including any amendment, modification or
extension thereof) which may hereafter be executed by Borrower for the
purpose of securing this Note.

          (c)   Borrower, without the prior written consent of Lender,
voluntarily or by operation of law, sells, conveys, assigns or otherwise
transfers or agrees to sell, convey or otherwise transfer, all or any portion
of, or any interest in, the Property.

          (d)   Borrower (i) admits in writing his inability to pay debts,
(ii) makes an assignment for the benefit of creditors, (iii) files a
voluntary petition in bankruptcy, effects a plan

                                  -2-

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or other arrangement with creditors, liquidates his assets under arrangement
with creditors, or liquidates his assets under court supervision, (iv) has an
involuntary petition in bankruptcy filed against him that is not discharged
within sixty (60) days after such petition is filed, or (v) applies for or
permits the appointment of a receiver or trustee or custodian for any of his
property or assets which shall not have been discharged within sixty (60)
days after the date of appointment.

          (e)   The occurrence of the third (3rd) anniversary of the date of
this Note.

          (f)   Borrower breaches any representation or warranty contained
herein or in the Deed of Trust, or any agreement or instrument executed in
connection with this loan proves to have been false or misleading.

          (h)   The death of the Borrower.

     4.   INTEREST: Upon the failure of Borrower to pay the outstanding
principal balance within thirty (30) days after a Maturity Event, interest on
the outstanding principal balance shall thereafter accrue at the rate of 6%
per annum, or if lower, the highest rate permitted by applicable law.

     5.   BORROWER'S REPRESENTATIONS: Borrower hereby makes the following
representations and warranties to the Lender and acknowledges that Lender is
relying on such representations in the loan:

          (a) As of the date of recording of the Deed of Trust, Borrower
shall have good and marketable title to the Property, free and clear of any
security interests, liens or encumbrances other than the First Deed of Trust
as defined in Paragraph 8.

                               -3-

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          (b) As of the date of the Deed of Trust, the consent of no other
person or entity is required to grant the security interest in the Property
to the Lender evidenced by the Deed of Trust.

          (c) There are no actions, proceedings, claims or disputes pending
or, to the Borrower's knowledge threatened against or affecting the Borrower
or the Property.

     6.   BORROWER'S ADDITIONAL OBLIGATIONS: Borrower shall take any and all
further actions that may from time to time be required to ensure that the
Deed of Trust creates a valid lien on the Property in favor of the Lender,
which shall secure the Note and be junior in priority only to the First Deed
of Trust. Borrower shall furnish evidence reasonably satisfactory to the
Lender that: (i) Borrower has good and marketable title to the Property; (ii)
the consent of no other person or entity is required to grant a security
interest in the Property to the Lender; and (iii) there is no other deed of
trust, mortgage or encumbrance against the Property other than the First Deed
of Trust. If it should be hereafter determined that there are defects against
title or matters which could result in defects against title to the Property,
or that the consent of another person or entity is required to grant to and
perfect in the Lender a valid second-priority lien on the Property, Borrower
shall promptly take all action necessary to remove such defects and to obtain
such consent and grant (or cause to be granted) and perfect such lien on the
Property. Failure of Borrower to comply with the provisions of this Paragraph
6 shall be deemed a default under the Note and the Deed of Trust.

                              -4-

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     7.   DEED OF TRUST: As used herein, "Deed of Trust" shall mean the deed
of trust constituting a second-priority lien against the Property by Borrower
to First American Title Insurance Company, as trustee, for the benefit of
Lender, as beneficiary, to be recorded in the Official Records or the County
of Alameda, State of California, securing a loan in the original principal
amount of ONE HUNDRED FIFTY-THREE THOUSAND FOUR HUNDRED FIFTY-THREE DOLLARS
($153,453.00).

     8.   FIRST DEED OF TRUST: As used herein, "First Deed of Trust" shall
mean the deed of trust constituting a first-priority lien against the
Property, by Borrower to First American Title Insurance Company, as trustee,
recorded on September 25, 1997 in the Official Records of the County of
Alameda, State of California as Instrument No. 97250791 securing a loan in
the principal amount of $436,800.

     9.   NOTICE: This Note is subject to Section 2924(i) of the California
Civil Code which provides that the holder of this Note, shall give written
notice to the trustor or his successor-in-interest, of prescribed information
at least ninety (90) days and not more than one hundred and fifty (150) days
before any balloon payment is due.

     10.  ATTORNEYS' FEES: In the event of Borrower's default hereunder,
Borrower shall pay all costs of collection, including reasonable attorneys'
fees incurred by the holder hereof on account of such collection, whether or
not suit is filed hereon.

     11.  WAIVER: The waiver by Lender of any breach of or default under any
term, covenant or condition contained herein or in any other agreement
referred to above shall not be

                                   -5-

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deemed to be a waiver of any subsequent breach of or default under the same
or any other such term, covenant or condition.

     12.  NO USURY: Borrower hereby represents and warrants that at no time
shall the proceeds of the indebtedness evidenced hereby be used "primarily
for personal, family, or household purposes" as that term is defined and
used in Article XV of the California Constitution (as amended from time to
time). Anything in this Note to the contrary notwithstanding, it is expressly
stipulated and agreed that the intent of Borrower and Lender is to comply at
all times with all usury and other laws relating to this Note. If the laws
of the State of California would now or hereafter render usurious, or are
revised, repealed or judicially interpreted so as to render usurious, any
amount called for under this Note, or contracted for, charged or received with
respect to the loan evidenced by this Note, or if any prepayment by Borrower
results in Borrower's having paid any interest in excess of that permitted by
law, then it is Borrower's and Lender's express intent that all excess amounts
theretofore collected by Lender be credited to the principal balance of this
Note (or, if this Note has been paid in full, refunded to Borrower), and the
provisions of this Note immediately be deemed reformed and the amounts
therefor collectible hereunder reduced, without the necessity of execution of
any new document, so as to comply with the then applicable law, but so as to
permit the recovery of the fullest amount otherwise called for hereunder.

     13.  PREPAYMENT: Borrower may prepay all or any portion of this Note at
any time prior to the stated maturity date, with no premium or penalty.

                                    -6-

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     14. GENERAL PROVISIONS: This Note shall be governed by and construed in
accordance with the laws of the State of California. The maker of this Note
hereby waives presentment for payment, protest and demand, notice of protest,
demand and dishonor and nonpayment of this Note, and consents that Lender may
extend the time for payment or otherwise modify the terms of payment or any
part of the whole of the debt evidenced by this Note, at the request of any
person liable hereon, and such consent shall not alter nor diminish the
liability of any person. Borrower hereby waives the defense of the statute of
limitations in any action on this Note to the extent permitted by law. All
covenants of liability shall be a joint and several obligation.

     15. THIS NOTE, THE DEED OF TRUST AND ALL RELATED DOCUMENTATION ARE
EXECUTED VOLUNTARILY AND WITHOUT ANY DURESS OR UNDUE INFLUENCE ON THE PART OF
OR ON BEHALF OF THE PARTIES HERETO, WITH THE FULL INTENT OF CREATING THE
OBLIGATIONS AND SECURITY INTERESTS DESCRIBED HEREIN AND THEREIN. THE PARTIES
ACKNOWLEDGE THAT: (a) THEY HAVE READ SUCH DOCUMENTATION; (b) THEY HAVE BEEN
REPRESENTED IN THE PREPARATION, NEGOTIATION AND EXECUTION OF SUCH
DOCUMENTATION BY LEGAL COUNSEL OF THEIR OWN CHOICE OR THAT THEY HAVE
VOLUNTARILY DECLINED TO SEEK SUCH COUNSEL; (c) THEY UNDERSTAND THE TERMS AND
CONSEQUENCES OF THIS NOTE, THE DEED OF TRUST AND ALL RELATED DOCUMENTATION
AND THE OBLIGATIONS THEY CREATE; AND (d) THEY ARE FULLY AWARE OF THE LEGAL
AND BINDING EFFECT OF THIS NOTE, THE

                                 -7-

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DEED OF TRUST AND THE OTHER DOCUMENTS CONTEMPLATED BY THIS AGREEMENT.

                          AS BORROWER:

                          Bill X. Huang and Minnie Huang, husband and wife,
                          as joint tenants

                          /s/ Bill X. Huang
                          ----------------------------------------
                          Bill X. Huang

                          /s/ Minnie Huang
                          ----------------------------------------
                          Minnie Huang

                              -8-<PAGE>

                                                                   Exhibit 10.21

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

         Plaintiffs,                              CASE NO.  94-2458-CA-01

vs.                                               DIVISION NO:  4

LOUISIANA-PACIFIC CORPORATION,                    CLASS REPRESENTATION
a Delaware corporation, et al.

                  Defendants.

                                                    /
------------------     ----------------------------

                              SETTLEMENT AGREEMENT

<PAGE>

                                TABLE OF CONTENTS
<TABLE>
<S>      <C>                                                                    <C>
1.       Definitions.............................................................4

2.       Settlement Purposes Only................................................9

3.       Submission for Preliminary Approval.....................................9

4.       Term of Agreement.......................................................9

5.       Payments by Louisiana-Pacific...........................................9

6.       Establishment of Toll-Free Number......................................10

7.       Recovery Program.......................................................11

8.       Selection and Training of Independent Adjusting Company/Independent
          Adjusters.............................................................14

9.       Class Notice...........................................................16

10.      Class Members'Right of Exclusion/Inclusion.............................17

11.      Right of Withdrawal....................................................17

12.      Performance Pending Final Agreement....................................18

13.      Exclusive Remedy; Dismissal of Action; Jurisdiction of Court...........18

14.      Releases...............................................................19

15.      Entry of Good Faith Bar Order on Claims; Indemnification...............20

16.      Assignment of Claims/Rights............................................20

17.      Court's Settlement Approval Order......................................21

18.      Effect of Default by Louisiana-Pacific.................................21

19.      Representations and Warranties.........................................21

20.      Termination of the Agreement...........................................22

21.      Miscellaneous Provisions...............................................23

22.      Attorneys'Fees.........................................................25

</TABLE>

                                       i

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                                TABLE OF EXHIBITS
<TABLE>
<S>      <C>                                                        <C>
1.       Court Order on Conditional Acceptance......................Exhibit "A"

2.       Problem Report.............................................Exhibit "B"

3.       Field Inspection and Evaluation Form.......................Exhibit "C"

4.       Release....................................................Exhibit "D"

5.       Request for Exclusion......................................Exhibit "E"

6.       Notice of Pendency of Class Action,
         Proposed Settlement of Class Action and
         Settlement Hearing.........................................Exhibit "F"

</TABLE>

                                       ii

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               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

         Plaintiffs,                                CASE NO.  94-2458-CA-01

vs.                                                 DIVISION NO:  4

LOUISIANA-PACIFIC CORPORATION,                      CLASS REPRESENTATION
a Delaware corporation, et al.

                  Defendants.

                                                    /
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                              SETTLEMENT AGREEMENT

         THIS AGREEMENT is entered into this 4th day of October, 1995, by and
among the Plaintiffs in the above litigation, Jeffrey Anderson and Armandina
Anderson, et al. ("Plaintiffs") for themselves and on behalf of the plaintiff
class as hereinafter defined ("Settlement Class"), and the Defendant herein
Louisiana-Pacific Corporation ("Defendant"). The Plaintiffs and Defendant,
collectively, shall hereinafter be referred to as the "Parties."

         Subject to Court approval as required by the Florida Rules of Civil
Procedure and as hereinafter provided, it is hereby stipulated and agreed by the
Parties that, in consideration of the promises set forth in this Agreement and
upon the entry by the Court of the Final Order and Judgment approving the
settlement and directing the implementation of the terms and conditions of the
settlement as set forth in this Agreement, this action shall be settled and
compromised upon the terms and conditions contained herein.

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                                    RECITALS

         A.   The Representative Plaintiffs have filed a Class Action on behalf
of the Settlement Class against Louisiana-Pacific Corporation, and the Court
will be asked to provisionally certify that class under Rule 1.220(b)(3) of the
Florida Rules of Civil Procedure for settlement purposes only.

         B.   Louisiana-Pacific is the maker of Louisiana-Pacific Inner-Seal
Siding, a product used for siding the exterior of houses and other structures.
Louisiana-Pacific sells Inner-Seal Siding to distributors who in turn sell it to
retailers. Contractors and builders purchase the Inner-Seal Siding from these
retailers. The contractors and builders then install the product on building
structures.

         C.   Louisiana-Pacific provides instructions relating to the handling,
installation, and maintenance of Inner-Seal Siding. Inner-Seal Siding is a wood
product and, therefore, precautions must be taken to ensure the product is
properly protected from certain conditions, including water encroachment. When
the handling, design, construction, installation, painting and maintenance
instructions are not followed by the distributors, retailers, contractors, or
property owners, damage to the product may result.

         D.   Over the last several years, Louisiana-Pacific has received
complaints from some Florida homeowners concerning the performance of the
Inner-Seal Siding used in the construction of their houses and has instituted a
claim resolution process to review those complaints.

         E.   The resolution of these complaints has been complicated by the
fact that liability for installation-related damages may be attributable to
contractors, who are, for the most part, not parties to the claims resolution
process described above. Additionally, many of the contractors

                                       2

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are no longer in business, making it extremely difficult for the property owners
to obtain any relief for installation-related claims.

         F.   Despite significant success in reducing the costs associated with
resolving these claims, the property owners and Louisiana-Pacific have spent,
and continue to spend, significant resources contesting both liability and
damages.

         G.   Class Counsel has extensive experience in the litigation of claims
concerning products liability and warranties. They have conducted a thorough
investigation into the law relating to the matters set forth in the class action
petition. Further, they have performed a thorough examination of more than one
hundred homes to determine the cause of damage to the Inner-Seal Siding
installed on the homes of the Class Representative Plaintiffs.

         H.   In light of the uncertainties associated with the pending,
unresolved issues enumerated above, there is a substantial risk that
adjudications with respect to certain claims asserted by the Class
Representative Plaintiffs will, as a practical matter, be dispositive of the
claims and interests of other members of the Settlement Class, or will
substantially impair or impede the ability of such other Settlement Class
members to protect their interests.

         I.   The primary purpose of this Agreement is to ensure that Settlement
Class members are fairly compensated in the most timely and efficient manner
possible, free of the uncertainties and cost of litigating the difficult and
disputed liability issues noted above.

         J.   The settlement contemplated by the Agreement would provide a fair,
flexible, speedy, cost-effective, and assured method of compensating claimants
who own homes or other structures with damaged Inner-Seal Siding. Thus, this
Agreement provides considerable benefit to the Settlement Class, while avoiding
costly litigation of difficult and disputed issues.

                                       3

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         K.   Based on extensive analysis of the law and facts at issue in the
Class Action, the other factors and considerations enumerated above concerning
liability, and the fair, flexible, speedy, cost-effective, and assured
procedures set forth in this Agreement for compensating the Settlement Class,
each Party has determined that settlement on the terms set forth below would be
fair, adequate, reasonable, and in its best interest.

         NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants contained herein, the Parties hereby agree as follows:

1.       DEFINITIONS

         As used in this Agreement and in the exhibits attached hereto, in
addition to any definitions elsewhere in this Agreement, the following terms
shall have the meanings set forth below:

              ACTION means the above-captioned matter pending in the Circuit
         Court of Lake County, Florida, Fifth Judicial Circuit, Division
         Number 4.

              CLASS COUNSEL means Walter S. McLin, III, Phillip S. Smith, and
         McLin, Burnsed, Morrison, Johnson & Robuck, P.A., P.O. Box 491357,
         Leesburg, Florida.

              CLASS NOTICE DATE means the last date upon which notice is mailed
         to the Settlement Class pursuant to Section 9 of this Agreement.

              COURT means the Circuit Court of the Fifth Judicial Circuit of
         Lake County, Florida, Division Number 4.

              DAMAGE means that the product fails at the time of inspection to
         perform its essential purposes of cladding and protecting the wall
         assembly and presenting

                                       4

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         appropriate aesthetics. Factors which will be considered to determine
         damage include, but are not limited to, thickness swell and moisture
         content and appearance.

              DATE OF INSTALLATION means the date Louisiana-Pacific Inner-Seal
         Siding was installed based on proof by the property owner of such a
         date, such as the certificate of original occupancy issued for such
         property or receipts for subsequently purchased siding.

              ELIGIBLE CLAIMANT means a claimant who qualifies for relief under
         Section 7 of this Agreement.

              FAIRNESS HEARING means the hearing to be conducted by the Court in
         connection with the determination of the fairness, adequacy and
         reasonableness of this Agreement.

              FINAL ORDER AND JUDGMENT means the Order to be entered by the
         Court, in a form which is mutually agreeable to the Parties, approving
         this Agreement without material alteration, as fair, adequate and
         reasonable, and making such other findings and determinations as the
         Court deems necessary and appropriate to effectuate the terms of this
         Agreement.

              INDEPENDENT ADJUSTING COMPANY means the entities selected by
         Louisiana-Pacific and Class Counsel for the purpose of carrying out the
         inspections of the Settlement Class members' homes.

              INDEPENDENT ADJUSTERS means adjusters employed by the Independent
         Adjusting Companies and trained in evaluating the claims of Settlement
         Class members set forth in Section 7.

                                       5

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              LOUISIANA-PACIFIC OR L-P means Louisiana-Pacific Corporation, its
         subsidiaries or affiliates, successors, assigns, representatives and
         insurers, and all of its past, present and future directors, officers,
         employees, agents and their respective successors, assigns, executors
         and insurers.

              LOUISIANA-PACIFIC INNER-SEAL SIDING means any year of manufacture
         or type of Oriented Strand Board lap or panel siding, soffit, facia, or
         trim manufactured by L-P, but does not include any such products that
         were sold by L-P without an express warranty (e.g., utility board), or
         that were re-classified by L-P to exclude an express warranty before
         the date of this Agreement.

              OPT OUT PERIOD means the period commencing on the Class Notice
         Date and extending for 30 days thereafter.

              PERSON means any individual or legal entity.

              PRELIMINARY APPROVAL means the Court's conditional certification
         of the Settlement Class, preliminary approval of this Agreement,
         approval of the form of the Class Notice and entry of an order
         substantially in the form of Exhibit "A" hereto.

              PROBLEM REPORT means a report described in Section 7.2 of this
         Agreement by a Settlement Class member attached as Exhibit "B".

              PROPERTY means any structure including homes, townhomes,
         condominiums, apartments, commercial structures and other types of
         buildings or structures bearing Louisiana-Pacific Inner-Seal Siding. A
         Unit of property means a single residential home, or single condominium
         or townhome.

              RECOVERY PROGRAM means the procedure set forth in Section 7.

                                       6

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              REPLACEMENT COST means average cost per square foot of siding for
         full replacement including materials and labor for the State of Florida
         as of the Settlement Date as computed from Orlando costs. The
         replacement cost will be $2.82 for the replacement of 4'x 8' panels and
         $3.40 will be the replacement costs for lap siding.

              SETTLED CLAIMS means any claim, liability, right, demand, suit,
         matter, obligation, damage, loss or cost, action or cause of action, of
         every kind and description which the Releasing Party, as described in
         Section 13 of this Agreement, has or may have, whether known or
         unknown, asserted or unasserted, latent or patent, that is, has been,
         could have been or in the future might be asserted by the Releasing
         Party either in the Action or in any other action or proceeding in this
         Court or any other court or forum, regardless of legal theory, and
         regardless of the type or amount of relief or damages claimed, against
         Louisiana-Pacific, arising from or in any way relating to any defects
         or alleged defects of Louisiana-Pacific Inner-Seal Siding or any part
         thereof. Without limiting the generality of the foregoing, Settled
         Claim shall include, with regard to the foregoing subject matter:

         (1)  any claim for breach or violation of any federal, state, common or
              other law;

         (2)  any claim for breach of any duty imposed by law, by contract or
              otherwise;

         (3)  any claim based on strict product liability, negligence, breach of
              express or implied warranty, racketeering, fraud, conspiracy,
              consumer fraud, negligent misrepresentation, or intentional
              misrepresentation;

         (4)  any claim arising from or in any way related to the design,
              manufacture, production, promotion, sale, distribution, or
              installation of Louisiana-Pacific

                                       7

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              Inner-Seal Siding, and/or any alleged defects in a
              Louisiana-Pacific Inner-Seal Siding, or any part thereof;

         (5)  any claim for personal injury, emotional distress, or mental
              anguish associated with any of the above; and

         (6)  any claim for penalties, punitive damages, exemplary damages,
              treble damages, or any other claim for damages based upon a
              multiplication of compensatory damages.

              SETTLEMENT CLASS means a class composed of all Persons who own
         Property which has Louisiana-Pacific Inner-Seal Siding. Settlement
         Class does not include the following:

         1.   Owners who have previously signed full releases of claims against
              Louisiana-Pacific and received compensation for all owned footage;

         2.   Owners who have executed Arbitration Agreements with
              Louisiana-Pacific or have participated in arbitration with
              Louisiana-Pacific with respect to all owned footage;

         3.   Owners who are parties to lawsuits as of the date of filing,
              October 19, 1994, of the class action petition; however, such
              owners may choose to designate themselves affirmatively as members
              of the settlement class within 100 days after issuance of notice.

         4.   Previous owners of Louisiana-Pacific siding who have replaced
              their Louisiana-Pacific siding with siding other than L-P siding
              prior to their siding being inspected by the Independent
              Adjustment Company.

              SETTLEMENT DATE means the date of entry of the Final Order and
         Judgment.

              UNIT means a piece of real property on which one or more
         structures with Louisiana-Pacific Inner-Seal Siding is located.

                                       8

<PAGE>

2.       SETTLEMENT PURPOSES ONLY

         2.1  This Agreement is for settlement purposes only, and neither the
fact of, nor any provision contained in, this Agreement nor any action taken
hereunder shall constitute, be construed as, or be admissible in evidence as,
any admission of the validity of any claim or any fact alleged by Plaintiffs in
this Action or of any wrongdoing, fault, violation of law, or liability of any
kind on the part of Louisiana-Pacific or any admission by Louisiana-Pacific of
any claim or allegation made in this Action, nor as an admission by any of the
Plaintiffs, members of the Settlement Class or Plaintiffs' Class Counsel of the
validity of any fact or defense asserted against them in the Action.

3.       SUBMISSION FOR PRELIMINARY APPROVAL

         3.1  Promptly after Execution of this Agreement, the Parties shall
jointly submit this Agreement, through their respective attorneys, to the Court
for Preliminary Approval.

4.       TERM OF AGREEMENT

         Class members shall be eligible for the Recovery Program set forth in
Section 7 of this Agreement for a period of five years. The five-year term will
begin on the Settlement Date. A Class member's claim will be considered timely
upon calling the established toll-free number and reporting their claim if such
call is made within the five year period.

5.       PAYMENTS BY LOUISIANA-PACIFIC

         Louisiana-Pacific shall be responsible for the following obligations
under this Agreement:

         5.1  Louisiana-Pacific and Class Counsel shall share equally the cost
of Notice in accordance with Section 9 of this Agreement, except that Class
Counsel shall pay no more than $100,000.00.

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         5.2  Louisiana-Pacific shall pay the costs associated with the
implementation and maintenance of the toll-free number described in Section 6.

         5.3  Louisiana-Pacific shall pay the costs associated with the
Independent Adjusters and Independent Adjusting Company including costs of
training, costs of administration, and costs of inspection by the Independent
Adjusters.

         5.4  Louisiana-Pacific shall pay attorneys' fees and court costs to
Class Counsel as more fully set forth in Section 22.

         5.5  Louisiana-Pacific shall pay twelve hundred dollars ($1,200) to
each of the specific Plaintiffs represented by class counsel for their expenses,
time and effort involved in bringing this lawsuit on behalf of all Class Members
throughout the state of Florida. The names of these specific Plaintiffs have
previously been given to Louisiana-Pacific.

         5.6  Louisiana-Pacific shall pay an additional five hundred dollars
($500) to each of six Class Representatives who make up the steering committee
for their additional expenses, time and effort involved in bringing and
coordinating the representative plaintiffs on behalf of all Class Members
throughout the state of Florida.

6.       ESTABLISHMENT OF TOLL-FREE NUMBER

         6.1  No later than the first dissemination of the Class Notice, and
throughout the Term of this Agreement Louisiana-Pacific shall establish and
adequately staff a statewide toll-free telephone facility. The telephone
facility shall accommodate, personally or through voice activation, phone calls
from Claimants on a 24 hour basis.

         6.2  This facility shall be capable of (a) receiving requests for
Notice and other materials described in Section 9; (b) providing generalized
information concerning deadlines for

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<PAGE>

opt outs and the date, time and location of the Fairness hearing; (c) mailing
materials to Settlement Class members as provided in Section 9; and (d)
gathering the information to complete a Problem Report as described in
Section 7.2.

         6.3  Throughout the Term of this Agreement, the facility shall maintain
records of all mailings and all Problem Reports both physically and on a
suitable computer system. Louisiana-Pacific will provide to Class Counsel a
computer terminal which will link to the computer system in order to access, at
all times, the records relating to this Agreement.

         6.4  Class Counsel shall have the right to physical inspection of these
records upon reasonable notice to Louisiana-Pacific but shall have computer
access to these records at all times.

         6.5  The records so maintained shall be and remain confidential.
Disclosure shall be limited to the parties' counsel and employees of
Louisiana-Pacific.

7.       RECOVERY PROGRAM

         7.1  Any Settlement Class member shall be an Eligible Claimant if he
has incurred Damage to Louisiana-Pacific Inner-Seal Siding on his Property. An
Eligible Claimant may be a subsequent purchaser of a property with
Louisiana-Pacific Inner-Seal Siding.

         7.2  Within the five (5) year term, members of the Settlement Class may
call the Toll-Free Number to report problems with Louisiana-Pacific Inner-Seal
Siding. Louisiana-Pacific will then forward to the Eligible Claimant a Problem
Report (Exhibit "B").

              a.   Certain basic information will be gathered when the
         Settlement Class member makes a Problem Report, I.E., name, address,
         builder, subdivision, description of problem and whether the Report is
         the first or second under this Agreement.

                                       11

<PAGE>

              b.   A questionnaire will be sent to the Settlement Class member
         requesting proof of the age of the Louisiana-Pacific siding and
         ownership verification of the home. Proof of the age of the L-P siding
         may be established by, but is not limited to, a Certificate of
         Occupancy or a receipt showing the date the L-P siding was installed.

              c.   Copies of all Problem Reports and completed questionnaires
         shall be input into the computer system for processing and made
         available to the Independent Adjusting Company and Class Counsel.

         7.3  Once a Problem Report has been received by the Independent
Adjusting Company, an Independent Adjuster will be sent within 45 days to
inspect the Property at no cost to the Settlement Class members.

         7.4  The inspection by the Independent Adjuster shall include the
following:

              a.   The Independent Adjuster will verify that the Class Member
         has Louisiana-Pacific Inner-Seal Siding on the Property.

              b.   The Independent Adjuster will verify, if possible, the age of
         installation.

              c.   The Independent Adjuster will measure the amount of
         Louisiana-Pacific Inner-Seal Siding which has suffered Damage.

              d.   The Independent Adjuster will determine without destructive
         testing, to the extent possible, the cause of the Damage which will
         include an assessment of design, construction, installation, finishing,
         painting, and maintenance factors affecting the damaged area.

         7.5  After completion of the inspection, the Independent Adjuster will
determine the amount an Eligible Claimant shall be paid based on the factors
listed below.

                                       12

<PAGE>

              a.   The Maximum Amount that may be awarded for repairing the
         damage for a single property under the terms of this Agreement shall be
         Replacement Cost times the number of square feet of Louisiana-Pacific
         Inner-Seal Siding which has suffered Damage.

              b.   The following amounts will be added together and the total
         deducted from the Maximum Amount computed under paragraph 7.5(a).

                   (1)  AGE OF SIDING INSTALLATION: For installations 37 months
              old and older, the adjuster shall deduct 5% per year from the
              Maximum Amount. The age reduction factor for a 37 month old
              installation shall be 5%, for a 49 month old installation,
              10%, etc.

                   (2) IMPROPER DESIGN/CONSTRUCTION/INSTALLATION/FINISHING/
              PAINTING THAT CAUSES OR CONTRIBUTES TO THE DAMAGED SIDING: The
              adjuster may deduct up to 75% for deficiencies according to the
              guidelines established in the instructions and evaluation forms
              provided to the adjuster which are incorporated in and attached
              hereto as Exhibit "C."

                   (3)  LACK OF MAINTENANCE: The adjuster may deduct up to 75%
              for inadequate painting/sealing/caulking maintenance and external
              abuse as instructed in Exhibit "C" attached hereto.

                   (4)  Deductions from the Maximum Amount attributable to
              categories 7.5(2) and 7.5(3) combined will never exceed a total
              of 75%.

         7.6  The Adjuster shall forward to Louisiana-Pacific and Class Counsel
his Field Inspection and Evaluation Form (Exhibit "C") and Louisiana-Pacific
shall, within 30 days after

                                       13

<PAGE>

receiving such notice, issue a check payable to the Eligible Claimant and
deliver it to Class Counsel in the amount calculated on the Field Inspection and
Evaluation Form. However, if such amount is for any reason less than any written
offer presented by Louisiana-Pacific to the Claimant before the date of this
Settlement Agreement, the check will be issued in the amount of such written
offer.

         7.7  Once Class Counsel has received the check, he will immediately
notify the Eligible Claimant. Class Counsel will release the check to the
Eligible Claimant upon the execution by the Eligible Claimant of a Release in
the form attached as Exhibit "D."

         7.8  In the event an Eligible Claimant suffers subsequent damage to
different Louisiana-Pacific Inner-Seal Siding, he may again make a Problem
Report within the Term of this Agreement and, if appropriate, again go through
the Recovery Program. However, the Eligible Claimant may not use the Recovery
Program more than once in each 24 month period and may do so only two times
during the Term of the Agreement. Use of the Recovery Program two times shall
still be limited by the maximum amount defined in 7.5(a) above. Provided that
Settlement Class members who have been through the Recovery Program less than
24 months before the end of the term of this Agreement, shall not be required
to wait 24 months before going through the Recovery Program. Settlement Class
members who have previously signed releases and received compensation for only
partial footage of the structure, or executed Arbitration Agreements with
Louisiana-Pacific and arbitrated as to only partial footage of the structure are
limited to one claim under this Recovery Program.

8.       SELECTION AND TRAINING OF INDEPENDENT ADJUSTING COMPANY/INDEPENDENT
ADJUSTERS

         8.1  All fees and expenses incurred in relation to the Independent
Adjusting Company and Independent Adjusters shall be borne by Louisiana-Pacific.

                                       14

<PAGE>

         8.2  Each Independent Adjuster will be required to attend a training
session presented by Louisiana-Pacific with the assistance of Class Counsel.

         8.3  Louisiana-Pacific and Class Counsel, upon agreement, shall have
the right to supplement the list of Independent Adjusting Companies and
substitute or add others with the consent of opposing counsel which consent
shall not be reasonably withheld.

         8.4  Class Counsel and Louisiana-Pacific shall have the right during
the Term of this Agreement to independently, on a sample basis, test the
findings of the Independent Adjuster.

         8.5  In the event either Louisiana-Pacific or Class Counsel believes
that the Independent Adjusters are not properly applying the terms of Paragraph
6 or in the event there is a question about the application of the terms of this
Agreement by the Independent Adjusters, then

              a.   The objecting Party's counsel shall notify counsel for the
         other Party to this Agreement in writing of his concern;

              b.   The counsel for the Parties will meet within 30 days of
         receipt of the written notification to try to resolve the concern;

              c.   In any event, counsel for the parties shall meet every six
         months to discuss the implementation and execution of this Agreement
         during the preceding six months and will attempt to resolve any
         concerns of the respective parties.

              d.   In the event the Parties cannot resolve the concern then the
         dispute shall be submitted to a three-member arbitration panel under
         the auspices of the American Arbitration Association ("AAA"). The AAA
         shall provide each counsel with a list of arbitrators who have special
         expertise in the area of construction. Each counsel shall

                                       15

<PAGE>

         choose one arbitrator from the list and the two selected shall choose
         the third arbitrator from the same list. The fees and costs of
         arbitration shall be borne equally by Louisiana-Pacific and Class
         Counsel.

              e.   In no event shall arbitration be conducted more frequently
         than every six months.

9.       CLASS NOTICE

         Upon Preliminary Approval, as the Court may direct, Class Counsel or
their designee, shall cause notice of the pendency of the Action, the settlement
embodied herein, and the Fairness Hearing (the "Class Notice") to be provided to
the members of the Settlement Class. This Class Notice will be accomplished by
Mail Notice and Published Notice in substantially the form of Exhibit "F"
attached hereto as defined below.

         9.1  Mail Notice, in a form approved by the Court, shall be mailed,
first class postage prepaid, together with a Request For Exclusion substantially
in the form of Exhibit "E," to each member of the Settlement Class that can be
identified with due diligence. In addition, such mailing shall be sent to each
member of the Settlement Class whose identity becomes known as a result of the
Published Notice, except no Request For Exclusion form need be mailed after
expiration of the Opt Out Period.

         9.2  Published Notice shall be published in newspapers in a manner
reasonably calculated to reach members of the Settlement Class as more
particularly described in the Public Notice Plan to be approved by the Court.

         9.3  Upon final Approval of the Agreement by the Court, a second series
of published notices and mail notices shall inform the readers and Class Members
of a toll free number

                                       16

<PAGE>

through which they may arrange for the receipt of a Problem Report. Notice of
the Final Approval of Settlement Agreement and rights of Class Members under the
Settlement shall be given in the same manner as stipulated by the Court in its
Order on the Proposed Class Settlement.

10.      CLASS MEMBERS' RIGHT OF EXCLUSION/INCLUSION

         10.1 Subject to Section 10.3 of this Agreement, a Settlement Class
member may opt out of the Settlement Class at any time during the Opt Out
Period. In order to exercise the opt out right set forth in this Section, the
Settlement Class member must complete and return a Request For Exclusion
substantially in the form of Exhibit "E," or a reasonable substitute therefor.
Such request must be postmarked on or before the end of the Opt Out Period. Any
Settlement Class member who has not so elected will be a Settlement Class member
for all purposes under this Agreement. Any Settlement Class member who elects to
opt out of the Settlement Class pursuant to this Section 10.1 shall not be
entitled to relief under or be affected by this Agreement.

         10.2 Any person who has elected to opt out pursuant to Section 10.1 of
this Agreement may be allowed to withdraw that election with the agreement of
Louisiana-Pacific and Class Counsel.

         10.3 A Settlement Class member who owns one or more Units may exercise
his election with respect to each Unit separately from all other Units.

11.      RIGHT OF WITHDRAWAL

         Within thirty (30) days after the deadline set by the Court for class
members to exclude themselves from the Settlement Class, Louisiana-Pacific shall
have the right, acting in good faith, to withdraw from this Settlement Agreement
if, after reasonable inquiry, Louisiana-Pacific

                                       17

<PAGE>

has concluded that the number of claims of class members who have excluded
themselves from this settlement is a substantial and excessive portion of all
the class claims.

12.      PERFORMANCE PENDING FINAL AGREEMENT

         12.1 After the Court grants Preliminary Approval, but prior to the
Court's Final Approval of this Agreement as provided in Section 17,
Louisiana-Pacific may elect to provide relief under Section 7 of this Agreement.
If Louisiana-Pacific so elects to provide such relief to Settlement Class
members, such relief may be conditioned upon the execution of a release and
indemnity agreement in a form acceptable to the Parties, which shall provide
that Eligible Claimants will be entitled to additional relief afforded by the
terms and conditions of this Agreement, if any, if and when the Final Order and
Judgment contemplated by Section 16 has been issued.

13.      EXCLUSIVE REMEDY; DISMISSAL OF ACTION; JURISDICTION OF COURT

         13.1 This Agreement shall be the sole and exclusive remedy for any and
all claims of Settlement Class members against Louisiana-Pacific. Upon entry of
the Final Order and Judgment by the Court, each Settlement Class member who has
not opted out of the Settlement Class shall be barred from initiating, asserting
or prosecuting any claims against Louisiana-Pacific except as provided herein.

         13.2 On the Settlement date, the Action shall be dismissed subject to
the reactivation of claims as provided in Section 18 of this Agreement.
Settlement Class members may not commence or actively prosecute actions on
Settled Claims against Louisiana-Pacific once the Final Order and Judgment is
entered. Class Counsel agree to provide reasonable cooperation to dismiss any
other actions of any Settlement Class member for Settled Claims pending in state
or federal courts against Louisiana-Pacific.

                                       18

<PAGE>

         13.3 The Court shall retain exclusive and continuing jurisdiction of
the Action, the Parties, and Settlement Class members, to interpret and enforce
the terms, conditions, and obligations of this Agreement.

14.      RELEASES

         14.1 Upon entry of the Final Order and Judgment, each Settlement Class
member, to the extent he has not opted out of the Settlement Class, on behalf of
himself and any Person claiming by or through him as his heir, administrator,
devisee, predecessor, successor, representative of any kind, or insurer (the
"Releasing Party"), shall be deemed to and does hereby release and forever
discharge Louisiana-Pacific, including any and all of its predecessors,
successors, parents, subsidiaries, divisions, departments, affiliates and
insurers, and any and all of its past, present and future officers, directors,
stockholders, partners, agents, employees, servants, successors, subrogees,
assigns and their respective insurers ("Releasees"), of and from any and all
Claims and related subrogation claims of the Releasing Party's subrogees or
insurance carriers not protected from waiver of subrogation by the provisions of
the applicable insurance policies (or assigned or subrogated prior to final
approval of this Agreement and not subject to compromise or settlement by the
policyholder) except as provided herein.

         14.2 Nothing in this Agreement shall prejudice or in any way interfere
with the rights of the Plaintiffs, Settlement Class members and
Louisiana-Pacific from pursuing all of their rights and remedies against any
Third Parties.

         14.3 Nothing in this Agreement shall be construed to affect in any way,
or require the forfeiture by any Settlement Class member of, such member's
homeowner's insurance or other available insurance coverage by reason of such
person's participation in this Settlement.

                                       19

<PAGE>

15.      ENTRY OF GOOD FAITH BAR ORDER ON CLAIMS; INDEMNIFICATION

         15.1 The Parties shall request that the Court enter an order barring
and prohibiting the commencement and prosecution of any claim or action by any
Class Member against Louisiana-Pacific including, but not limited to, any
negligence, breach of warranty, breach of contract, misrepresentation,
contribution, indemnity, and/or subrogation claims (except subrogation claims
explicitly preserved under Section 13), seeking reimbursement for payments made
or to be made to any Settlement Class member for claims relating to
Louisiana-Pacific Inner-Seal Siding or for expenses incurred in defending
against any such claims or actions. Louisiana-Pacific shall be entitled to
dismissal with prejudice of any such claim against it which violate or are
inconsistent with this bar.

         15.2 Any Settlement Class member making a claim against a Third Party
(other than that Settlement Class member's insurance carrier) for what would be
a Settled Claim if asserted against Louisiana-Pacific, shall indemnify and hold
harmless Louisiana-Pacific from any claim of contribution or indemnity asserted
by such Third Party against Louisiana-Pacific. Provided that, the Settlement
Class member will not be liable for attorneys' fees incurred by
Louisiana-Pacific in defense of a claim by a third party.

16.      ASSIGNMENT OF CLAIMS/RIGHTS

         When any Settlement Class member transfers his right or title to any
Property containing Louisiana-Pacific Inner-Seal Siding to any other person (the
Transferee), the Transferee shall automatically receive an assignment of all
rights and obligations under this Agreement limited to the terms and conditions
of the Agreement.

                                       20

<PAGE>

17.      COURT'S SETTLEMENT APPROVAL ORDER

         17.1 This Agreement is subject to and conditioned upon the issuance by
the Court, following the Fairness Hearing, of a Final Order and Judgment
granting final approval of the Agreement.

18.      EFFECT OF DEFAULT BY LOUISIANA-PACIFIC

         18.1 In the event Louisiana-Pacific fails to make a payment due and
owing under the terms of this Agreement, or in default of this Agreement in any
other respect, the Plaintiffs' Class Counsel shall so notify the Court.
Louisiana-Pacific shall then be given up to 20 calendar days to cure the
default.

         18.2 In the event of a default by Louisiana-Pacific under this
Agreement, the Court may exercise all equitable powers over Louisiana-Pacific to
enforce this Agreement and the Final Order and Judgment irrespective of the
availability or adequacy of any remedy at law. Such powers include, among
others, the power of specific enforcement.

19.      REPRESENTATIONS AND WARRANTIES

         19.1 Louisiana-Pacific represents and warrants that it (i) has all
requisite corporate power and authority to execute, deliver and perform this
Agreement and to consummate the transactions contemplated hereby; (ii) the
execution, delivery and performance by Louisiana-Pacific of this Agreement and
the consummation by it of the actions contemplated herein have been duly
authorized by all necessary corporate action on the part of Louisiana-Pacific;
and (iii) this Agreement has been duly and validly executed and delivered by
Louisiana-Pacific and constitutes its legal, valid and binding obligation.

                                       21

<PAGE>

20.      TERMINATION OF THE AGREEMENT

         20.1 The performance of this Agreement is expressly contingent upon the
Court's issuance of the Final Order and Judgment. If the Court fails to issue
such Order within sixty (60) days following conclusion of the Fairness Hearing,
Louisiana-Pacific may elect to terminate this Agreement within twenty (20)
business days of such failure, rendering it as having no force or effect
whatsoever, null and void AB INITIO, and not admissible as evidence for any
purpose in any pending or future litigation (in any jurisdiction) involving any
of the Parties. If the Court approves this Agreement as provided for in Section
17, but this Agreement has not become final pending the resolution of an appeal
of the Final Order and Judgment, Louisiana-Pacific may elect to provide the
relief to Settlement Class members under the terms and conditions of this
Agreement. If Louisiana-Pacific so elects to provide such relief to Settlement
Class members pending the resolution of any such appeal, such relief will be
conditioned upon the Eligible Claimant executing a release and indemnity
agreement consistent with Section 14 of this Agreement. If Louisiana-Pacific
elects not to provide such relief to Settlement Class members pending the
resolution of any such appeal, the Plaintiffs, acting on behalf of and for the
benefit of Settlement Class members, may elect within twenty (20) business days
thereof to terminate this Agreement, rendering it having no force and effect
whatsoever, null and void AB INITIO, and not admissible as evidence for any
purpose in this or any other pending or future litigation (in any jurisdiction)
involving Louisiana-Pacific or Settlement Class members, and Louisiana-Pacific
shall retain the right to oppose class certification in accordance with Section
20.2. If Louisiana-Pacific elects to provide such relief to Settlement Class
members pending the resolution of any such appeal, and the Settlement Date is
never reached, Louisiana-Pacific retains the right to terminate this Agreement
as provided for above in this paragraph.

                                       22

<PAGE>

         20.2 Notwithstanding any other provision of this Agreement, if this
Agreement is terminated for any reason, Louisiana-Pacific agrees that the
Plaintiffs may pursue claims associated with any Louisiana-Pacific Inner-Seal
Siding by moving for class certification, and the appropriateness of the
Plaintiffs to act as representative plaintiffs shall be based on their status as
of the date of Preliminary Approval, even if one or more of the Plaintiffs'
individual claims will thereafter have been paid under this Agreement. In that
event, Louisiana-Pacific will not object to the addition or substitution of
class representative Plaintiffs, but may oppose class certification on other
grounds NUNC PRO TUNC without any prejudice whatsoever from either the existence
of this Agreement or the fact that Louisiana-Pacific entered into this
Agreement.

21.      MISCELLANEOUS PROVISIONS

         21.1 This Agreement, including all Exhibits attached hereto, shall
constitute the entire Agreement among the Parties with regard to the subject of
this Agreement and shall supersede any previous agreements and understandings
between the parties with respect to the subject matter of this Agreement. This
Agreement may not be changed, modified, or amended except in writing signed by
all Parties, subject to Court approval.

         21.2 This Agreement shall be construed under and governed by the laws
of the State of Florida.

         21.3 This Agreement may be executed by the Parties in one or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

         21.4 This Agreement shall be binding upon and inure to the benefit of
the Settlement Class, the Parties, and their representatives, heirs, successors,
and assigns.

                                       23

<PAGE>

         21.5 The headings of the Sections of this Agreement are included for
convenience only and shall not be deemed to constitute part of this Agreement or
to affect its construction. The decimal numbering of provisions herein is
intended to designate sub-sections where applicable.

         21.6 Any notice, request, instruction, application for Court approval
or application for Court orders sought in connection with this Agreement or
other document to be given by any Party to any other Party shall be in writing
and delivered personally or sent by registered or certified mail, postage
prepaid, if to Louisiana-Pacific to the attention of its counsel and Class
Counsel on behalf of Settlement Class members, or to other recipients as the
Court may specify.

As of the date of this Agreement, the respective representatives are as follows:

George R. Miller, Esquire                   Walter S. McLin, III, Esquire
Post Office Box 687                         and Phillip S. Smith, Esquire
DeFuniak Springs, FL  32422-0687            McLin, Burnsed, Morrison,
Phone No. (904) 892-5153                      Johnson & Robuck, P.A.
Fax No. (904) 892-0432                      Post Office Box 491357
                                            Leesburg, FL  34749-1357
Robert M. Schick, Esquire                   Phone No. (904) 787-1241
Vinson & Elkins, L.L.P.                     Fax No. (904) 326-2608
2300 First City Tower                       or Fax No. (904) 787-4265
1001 Fannin Street
Houston, TX  77002-6760
Phone No. (713) 758-4582
Fax No. (713) 615-5528

         The above designated representatives may be changed from time to time
by any Party upon giving notice to all other Parties in conformance with this
Section 22.6.

         21.7 References to or use of a masculine pronoun in this Agreement
shall include the feminine. References to or use of a singular noun or pronoun
in this Agreement shall include the plural, unless the context implies
otherwise.

                                       24

<PAGE>

22.      ATTORNEYS' FEES

         22.1 Louisiana-Pacific shall pay the attorneys' fees and court costs of
the Class Counsel. Louisiana-Pacific shall also pay its own attorneys' fees and
court costs.

         22.2 Louisiana-Pacific shall pay to Class Counsel, attorneys' fees and
costs as follows:

              a.   Upon entry of an Order on Proposed Class Settlement and
         initial approval by the court, an amount of $200,000 to be paid for
         fees and costs.

              b.   Upon entry of a Final Order accepting this Settlement
         Agreement after the fairness hearing and after the time for appeal has
         run with no appeal, an amount of $900,000 for fees and costs.

              c.   On November 3, 1995, an amount of $425,000 for fees and
         costs, if no appeal.

              d.   On November 3, 1996, an amount of $125,000 for fees and
         costs, if no appeal.

              e.   On November 3, 1997, an amount of $125,000 for fees and
         costs, if no appeal.

              f.   On November 3, 1998, an amount of $125,000 for fees and
         costs, if no appeal.

In the event of an appeal, if the Settlement Agreement is ultimately approved,
the remaining $1,700,000 will be due and payable on demand as scheduled by Class
Counsel.

         22.3 Each payment to Class Counsel by Louisiana-Pacific for fees and
costs when paid to Class Counsel is unconditional and non-refundable.

                                       25

<PAGE>

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date first above written on the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
a Delaware Corporation

By:  Ronald L. Paul /s/                              Date: MAY 31, 1995
     -------------------------------------------          -------------

     RONALD L. PAUL VICE PRESIDENT OF OPERATIONS
     -------------------------------------------
     (Printed name and title)

STATE OF TEXAS
COUNTY OF MONTGOMERY

         The foregoing instrument was acknowledged before me this 31 day of May,
1995, by Ronald L. Paul the Vice President-Operation of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

Linda L. Buckner /s/                                          [SEAL]
-----------------------------
(Signature of Notary Public)

Linda L. Buckner
-----------------------------
(Print Name of Notary Public)

###-##-####/3/001
-----------------------------
(Serial/Commission Number)

 X  Personally Known or ____ Produced ___________________________ as
identification.

Walter S. McLin, III /s/                 George R. Miller /s/
----------------------------             --------------------------------------
WALTER S. McLIN, III                     GEORGE R. MILLER
Florida Bar No. 053465                   Florida Bar No. 105201
PHILLIP S. SMITH                         Post Office Box 687
Florida Bar No. 0999040                  DeFuniak Springs, Florida  32422-0687
McLin, Burnsed, Morrison,                (904) 892-5153
  Johnson & Robuck, P.A.                 Attorney for Louisiana-Pacific
Post office Box 491357                   Corporation
Leesburg, Florida  34749-1357
(904) 787-1241                           Robert M. Schick /s/
CLASS COUNSEL                            -------------------------------------
                                         ROBERT M. SCHICK, of
                                         Vinson & Elkins, L.L.P.
                                         2300 First City Tower
                                         1001 Fannin Street
                                         Houston, Texas  77002-6760
                                         (713) 758-4582
                                         Attorneys for Louisiana-Pacific
                                         Corporation

                                       26
<PAGE>

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

             Plaintiffs,                             CASE NO. 94-2458-CA-01

vs.                                                  DIVISION NO:  4

LOUISIANA-PACIFIC CORPORATION,                       CLASS REPRESENTATION
a Delaware Corporation, et al.

                Defendants.
____________________________________/

                       ORDER ON PROPOSED CLASS SETTLEMENT

         Plaintiffs and Defendant, Louisiana-Pacific Corporation having
conditionally entered into a Settlement Agreement and having moved the Court for
an order conditionally certifying the class and approving their agreement
settling all issues in this action and it appearing that such settlement is in
the interest of the parties and all members of the Class represented by
Plaintiffs, it is

         ORDERED and ADJUDGED as follows:

1.       CONDITIONAL CLASS CERTIFICATION.  Civil Action No. 94-2458-CA-01,
styled JEFFREY ANDERSON and ARMANDINA ANDERSON, his wife, et al. v.
LOUISIANA-PACIFIC CORPORATION, a Delaware Corporation, et al., shall be
maintained as a class action on behalf of the following class of plaintiffs:

         All persons and entities throughout the state of Florida who own real
         property which has Louisiana-Pacific Inner-Seal Siding as their
         exterior siding material on that real proeprty.
         The Class does not include the following:

         1.       Property owners who have previously signed full releases of
                  claims against Louisiana-Pacific and received compensation
                  for all owned square footage of siding material;

         2.       Property owners who have executed arbitration agreements with
                  Louisiana-Pacific or have participated in arbitration with
                  Louisiana-Pacific with respect to all owned square footage of
                  exterior siding material;

                                    EXHIBIT A

<PAGE>

         3.       Property owners who are parties to lawsuits as of the date of
                  filing, October 19, 1994, of the Class Action Petition;
                  however, such property owners may choose to designate
                  themselves affirmatively as members of the Class within 100
                  days after issuance of this notice.

         4.       Property owners who have removed or replaced their L-P
                  exterior siding with a product other than L-P exterior siding
                  before the independent adjuster has had the opportunity to
                  make the inspection on the proeprty as contemplated by the
                  Settlement Agreement.

with respect to the following causes of action:

         Any claims for damages, injunctive relief, or any other claim, legal or
         equitable in nature under federal or state law premised upon an alleged
         defect or breach of warranty in connection with the design,
         manufacture, marketing, sale of, or representations regarding L-P
         Inner-Seal Siding, soffit, trim or facia.

Such certification is conditional upon the final approval by this Court after a
hearing for fairness and acceptance of the Settlement Agreement.

2.       TEMPORARY INJUNCTION. Pending the final fairness hearing before this
court regarding the proposed settlement agreement, putative class members are
enjoined from filing other class action lawsuits relating to the causes of
action identified above. Further, any pending class action lawsuits in the state
of Florida shall be abated pending the final fairness hearing.

3.       CLASS REPRESENTATIVES; CLASS COUNSEL. JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife; JOSEPH BALOGA and KATHLEEN M. BALOGA, his wife; STEVEN C.
BELL and NANCY P. BELL, his wife; TIMOTHY N. BLACKSTONE and JULIE BLACKSTONE,
his wife; DOUGLAS P. BOLOGNESE and JULIA P. BOLOGNESE, his wife; STEVEN M.
BOWMAN and TERESA K. BOWMAN, his wife; WALTER BROWN and TERRY BROWN, his wife;
ROBERT K. CARTER and LINDA L. WILLIAMS-CARTER, his wife; CHARLES B. COE and MARY
COE, his wife; MARY E. COLLIER; JOE CRAWFORD and SUE A. CRAWFORD, his wife;
JERRY KENDALL CURTIS and ALISON H. CURTIS, his WIFE; STEPHEN E. GODDARD and
DONNA GODDARD, his wife; PHILIP G. GUILBEAULT and ROSEMARY GUILBEAULT, his wife;
MARK HANSEN and LINDA HANSEN, his wife; MILTON O. HARRELL and PATSY A. HARRELL,
his wife; LARRY HAYS and TINA HAYS, his wife; SUSAN JETER; DAVID R. JONES and
LYNN L. JONES, his wife; JUNE N. JONES; PATRICK M. KANE and BRENDA E. KANE, his
wife; ERNEST P. LaROCHE and BETTY LaROCHE, his wife; DENNIS G. LEACH and SEGUNDA
P. LEACH, his wife; PATRICIA LEUNG, STEVEN M. LEWIS and MICHELLE B. LEWIS, his
wife; DONALD McEVER and SHARON McEVER, his wife; ARNOLD S. MILLER and PAMELA J.
MILLER, his wife; JEFFREY B. MOORE and IRENE E. MOORE, his wife; DOUGLAS A.
MORAN, JR. and ANNA A. MORAN, his wife; STEPHEN W. MOSAKOWSKI and LINDA K.
MOSAKOWSKI, his wife; DONALD L. NICHOLSON and CAROLYN N. NICHOLSON, his wife;
ROBERT A. PARKER and ROBIN L. PARKER, his wife; KEITH H.

                                       2
<PAGE>

PARTLOW and PAULA L. PARTLOW, his wife; LAWRENCE O'HARA PARTRIDGE and LORI ANNE
PARTRIDGE, his wife; TIMOTHY ROOD and MERI BETH ROOD, his wife; ALAN G. SHIRLEY
and DENISE SHIRLEY, his wife; DENNIS R. SMITH and LINDA L. SMITH, his wife;
MIRIAM SMITH; RENEE M. SMITH; JACK W. STANLEY and GLENDA STANLEY, his wife;
SUSAN M. STRIBY; STEVEN M. SUMERFELT and DARLENE L. SUMERFELT, his wife; BRAD
TUBBS and MARY TUBBS, his wife; SCOTT T. WALKER and LISA JO WALKER, his wife;
FRANK WASHBOURNE and LINDA WASHBOURNE, his wife; CURTIS D. WILLIAMS and RHONDA
F. WILLIAMS, his wife; LEE J. WITHINGTON; and DANIEL ZIMMER and CRYSTAL ZIMMER,
his wife are designated as class representatives and Walter S. McLin, III,
Esquire and Phillip S. Smith, Esquire, of McLin, Burnsed, Morrison, Johnson, &
Robuck are designated as counsel for the Class.

4.       EXCLUSION. Class members may exclude themselves from the class by
filing with Class Counsel by _______, 1995, the form appended in the Notice
(Attachment "A") or some other appropriate written indication that they request
exclusion from the class. Class counsel shall receive and tabulate requests for
exclusion and provide copies to counsel for L-P.

5.       PROPOSED SETTLEMENT.  The proposed Settlement between the Plaintiff
Class and the Defendant, Louisiana-Pacific appears, upon preliminary review, to
be within the range of reasonableness and accordingly shall be submitted to the
Class Members for their consideration and for a hearing pursuant to Fla. R. Civ.
P. 1.220(e).

6.       HEARING. A hearing shall be held in Court Room ____, in the Circuit
Court of the Fifth Judicial District in and for Lake County, Florida at __:___
_.M. on ________, 1995, to consider whether the settlement should be given final
approval.

                  (a)      Objections by Class Members to the proposed
settlement will be considered if filed in writing with the Clerk on or before
________, 1995.

                  (b)      At the hearing, Class Members may be heard orally in
support of or in opposition to the Settlement Agreement if by _______, 1995, a
written notification of the desire to appear personally is filed with the Clerk,
indicating (if in opposition to the settlement) briefly the nature of the
objection.

                  (c)      Counsel for the Class and for the Defendants should
be prepared at the hearing to respond to objections filed by Class Members and
to provide other information, as appropriate, bearing on whether or not the
settlement should be approved.

7.       NOTICE. The parties to the proposed settlement shall by _______, 1995
mail in the name of the Clerk by first class mail, postage prepaid, a notice in
substantially the same form as attachment "A" to members of the class who can
reasonably be identified by the parties through due diligence. Notice of the
proposed settlement and rights of Class Members to object to the settlement
shall also be given by publication by running a copy of the notice in the
newspapers identifed in attachment "B" on each of three (3) separate occasions
at least one (1) week apart beginning within ten (10) days of the date of this
Order.

                                       3
<PAGE>

         DONE AND ORDERED in Tavares, Lake County, Florida this ____ day of
_______, 1995.

                                                   _____________________________
                                                   JERRY T. LOCKETT
                                                   CIRCUIT JUDGE

Attachment:  "A" Notice
Attachment:  "B" List of newspapers for
                 Notice by Publication

                             CERTIFICATE OF SERVICE

I HEREBY CERTIFY that a true copy of the foregoing has been furnished by U.S.
Mail to WALTER S. McLIN, III, ESQUIRE and PHILLIP S. SMITH, ESQUIRE, of McLin,
Burnsed, Morrison, Johnson & Robuck, P.A., Post Office Box 491357, Leesburg,
Florida 34749-1357; LOUISIANA-PACIFIC CORPORATION c/o GEORGE R. MILLER, ESQUIRE,
Post Office Box 687, DeFuniak Springs, Florida 32422-0687 and ROBERT M. SCHICK,
ESQUIRE, Vinson & Elkins, L.L.P., 2300 First City Tower, 1001 Fannin Street,
Houston, Texas 77002-6760; and PALM VISTA HOMES c/o THEODORE D. ESTES, ESQUIRE,
Warlick, Fassett, Divine & Anthony, P.A., 14 E. Washington Street, Suite 500,
Post Office Box 3387, Orlando, Florida 32802-3387, this ___ day of June, 1995.

                                                   _____________________________
                                                   JUDICIAL ASSISTANT

                                       4
<PAGE>

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

         Plaintiffs,                                 CASE NO. 94-2458-CA-01

vs.                                                  DIVISION NO.: 4

LOUISIANA-PACIFIC CORPORATION,                       CLASS REPRESENTATION
A Delaware Corporation, et. al.

                    Defendants.

                                          REQUEST FOR EXCLUSION

                                      Read the Enclosed Legal Notice
                                  Carefully Before Filling Out This Form

The undersigned does NOT with to remain a member of the Plaintiff class
certified in the case of JEFFREY ANDERSON and ARMANDINA ANDERSON, his wife, et
al. V. LOUISIANA-PACIFIC CORPORATION, a Delaware Corporation, et al., in the
Circuit Court of the Fifth Judicial Circuit in and for Lake County, Florida.
I/We understand that by making this request, I/We will not be eligible to
participate in the settlement reached in this case.

                                    Date:_______________________________________
                                    ____________________________________________
                                    ____________________________________________
                                    ____________________________________________
                                    ____________________________________________
                                    (Print Name and Address)
                                    ____________________________________________
                                    (Signature)
                                    ____________________________________________
                                    (Print Name of Additional owner if any)
                                    ____________________________________________
                                    (Signature of Additional owner if any)

<PAGE>

If you want to exclude yourself from the class, you must fill in and return this
form by mailing on or before ____________________, 1995, to:

                                      Class Counsel
                                      McLin, Bursed, Morrison, Johnson & Robuck
                                      P. O. Box 491357
                                      Leesburg, FL  34749-1357

A separate request for exclusion should be completed and timely mailed for each
entity electing to be excluded form the class.

                                       2
<PAGE>

                  LIST OF NEWSPAPERS FOR NOTICE OF PUBLICATION

1.       Tallahassee Democrat
2.       Jacksonville Times Union
3.       Orlando Sentinel
4.       Tampa Tribune
5.       Palm Beach Post
6.       Miami Herald
7.       Ft. Myers Press
8.       Gainesville Sun
9.       Ft. Walton Beach NW Florida News
10.      Pensacola News Journal
11.      Panama City News-Herald
12.      St. Petersburg Times

                                    EXHIBIT B

                                       4
<PAGE>

                                GUIDELINES AND INSTRUCTIONS FOR FIELD INSPECTORS

         The purpose of these instructions and guidelines are to inform the
field inspectors of the procedures to follow while carrying out the terms of the
Louisiana-Pacific Settlement Agreement. The field inspectors are instructed to
apply the formula of the settlement agreement on a consistent basis throughout
the state of Florida. To promote uniformity, the field inspectors will observe
the following instructions:

1.       The Field Inspector must first diagram the property on the appropriate
         page of the form. this diagram need not be made to scale but is simply
         to indicate which side of the structure had damage. The Field Inspector
         should also indicate which side represents North, South, East and West.

2.       The Field Inspector must determine the amount of damaged siding on the
         property. This measurement will be recorded on the form and the
         location of the damaged siding will be noted on the Diagram. No
         reduction for footage will be made for windows or doors in the damaged
         area. Additionally, if a side of the structure has any damage, then
         such side will be deemed to have a minimum of thirty-two (32) square
         feet of damage to that side. With regards to 4' X 8' panels, if a
         panel is damaged, the entire panel will be included as damaged square
         footage to be replaced. If undamaged siding must be removed in order
         to replace damaged siding and such undamaged siding cannot be reused
         by the installer, then this siding will also be deemed damaged siding.

3.       The Field Inspector will then inspect the structure for contributing
         causes of damage to the siding. The first category of contributing
         causes will be the seven design/ construction/ installation causes as
         listed on page 2 of the Field inspection and Evaluation Form. The
         Inspector will calculate the percentage deduction, if any,
         attributable to defects in design/ construction/ and installation as
         listed on page 2 of the Form. The percentage deduction shall be
         calculated to apply only to the damaged area which specifically
         resulted from that design defect caused by the design/ construction/
         installation defect. The maximum deduction for this category of
         deductions cannot exceed 75% (i.e. if the siding is less than 6 inches
         to grade or landscaping but this defect only resulted in damage to 200
         of the 400 square feet of damaged siding on that side of the house,
         then the maximum deduction for the 6 inches to grade defect would be
         75% of the 200 square feet of damaged siding because the other 200
         square feet were damaged by another cause.)

4.       The same criteria applies to deductions resulting from the second
         category of deductions which are Owner Maintenance problems. The Field
         Inspector is to review the four causes on page 3 and determine what
         percentage, if any, should be deducted as a result of faulty Owner
         Maintenance. The deductions will be taken and calculated as described
         in paragraph 3 above.

                                    EXHIBIT C

<PAGE>

5.       However, the total deduction for a given area cannot exceed 75 percent
         for the combined causes of design/ construction/ installation and owner
         maintenance.

6.       The Inspector then calculates the percentage deduction for the age of
         the home. The age calculations are as follows: 0-3 years = 0%
         deduction, then 5% per year beginning in the 37th month. This
         calculation will also be made per side because some of the siding may
         have been installed at a different time than other siding.

7.       After all deductions have been calculated, page four (4) should be
         completed by the Inspector to arrive at the net settlement in dollars $
         to be paid to the claimant. The Form will then be promptly forwarded to
         the Settlement facility by the inspector where the information can be
         input into the computer system.

<PAGE>

FIELD INSPECTION AND EVALUATION FORM

  Customer Name:          _______________
  Inspection Date:        _______________       Inspector:      _______________
  Inspection Time:        _______________       Date Installed: _______________
  Present for Inspection: _______________       Stories:        _______________
  L-P Product Confirmed:  YES____ NO ____
  L-P Product Grade:      _______________

<TABLE>
<CAPTION>

                                      CALCULATIONS OF DAMAGED SIDING

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Location               Front (S1)       Right (S2)        Rear (S3)       Left (S4)       Other (O1)       Other (O2)
-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Product Type           Panel/Lap        Panel/Lap        Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
<S>                   <C>             <C>               <C>             <C>              <C>              <C>
Size (8", 10", 12")

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Total Square
Footage

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Thickness >.560

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Moisture Cont. >28%

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Other Damage
(Specify)

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
Total Damaged
Footage*

-------------------- ---------------- ---------------- ---------------- --------------- ---------------- ---------------
</TABLE>

    *Adjuster should include square footage for normal size windows, doors or
      other cutouts that are in the damaged area.

COMMENTS:

-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------

                                       2

<PAGE>

<TABLE>
<CAPTION>

                                   FIELD INSPECTION AND EVALUATION FROM

DESIGN/CONSTRUCTION/INSTALLATION            DEDUCTION %

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Location               Front (S1)      Right (S2)       Rear (S3)       Left (S4)       Other (O1)       Other (O2)
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Product Type           Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
<S>                   <C>            <C>              <C>             <C>             <C>              <C>

1. Less than 6"
clearance to grade
or landscaping

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
2.  Less than
3/16" gap where
required

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
3. Less than 2"
clearance between
siding and roof or
chimney

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
4. Siding in
contact with
masonry and/or
concrete

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
5. Less than 2
mils paint on
face and/or
bottom edges

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
6. Improper/ lack
of flashing,
on windows,
doors, ledges,
bands or eave

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
7.  Improper
caulking or
nailing (must be
blind nailed after
2/91)

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
TOTAL %
BUILDER
DEDUCTION

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
</TABLE>

COMMENTS:

-------------------------------------------------------------------------------
-------------------------------------------------------------------------------

                                       3
<PAGE>

<TABLE>
<CAPTION>

                                   FIELD INSPECTION AND EVALUATION FROM

OWNER MAINTENANCE          DEDUCTION %

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Location               Front (S1)      Right (S2)       Rear (S3)       Left (S4)       Other (O1)       Other (O2)
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Product Type           Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
<S>                  <C>             <C>              <C>              <C>             <C>              <C>

1. Painting
or Caulking
failure

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
2. Clogged
or leaking gutters

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
3. Sprinkler
overspray

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
4. Plants in
direct contact
with  siding
TOTAL % HOMEOWNER
DEDUCTION

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
TOTAL %
BUILDER
DEDUCTION
From Page 2 .

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
TOTAL % DED.
HOMEOWNER AND
BUILDER (Cannot
Exceed 75%)

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
* DEDUCTION  %
FOR AGE

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
TOTAL % ALL
DEDUCTION BY
AREA OR SIDE

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
</TABLE>

* Age Calculations:  0-3 yrs = 0% then 5% per year beginning in the 37th month.

COMMENTS:

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                                       4
<PAGE>

<TABLE>
<CAPTION>

                      FIELD INSPECTION AND EVALUATION FROM

                             SETTLEMENT CALCULATIONS

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Location               Front (S1)      Right (S2)       Rear (S3)       Left (S4)       Other (O1)       Other (O2)
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Product Type           Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap        Panel/Lap       Panel/Lap
-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
<S>                  <C>             <C>             <C>               <C>            <C>              <C>

Damaged Sq/Ft.
From Page 1.

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Times Means
Replacement
Cost

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Total Gross
Settlement ($)

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------

Total % Deduct
From Page 3.

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Total $
Deductions

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
Net Settlement
($) per side

-------------------- --------------- --------------- ---------------- --------------- ---------------- ---------------
</TABLE>

                           TOTAL NET SETTLEMENT $
                                                 ------------------------------
COMMENTS:

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                                       5
<PAGE>

                      FIELD INSPECTION AND EVALUATION FROM

                    [grid paper for diagram of property here]

COMMENTS:

--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

                                       6

<PAGE>

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

             Plaintiffs,                        CASE NO. 94-2458-CA-01

vs.                                             DIVISION NO: 4

LOUISIANA-PACIFIC CORPORATION,                  CLASS REPRESENTATION
a Delaware Corporation, et al.

             Defendants.
____________________________________/

                                    RELEASE

         In consideration of the payment of $________________ made by
Louisiana-Pacific Corporation ("L-P") to _________________________ and
_________________________ ("Releasors"), pursuant to the Settlement Agreement
reached in the above-styled action, Releasors release and forever discharge L-P
including any and all of its predecessors, successors, parents, subsidiaries,
divisions, departments, affiliates and insurers and any and all of its past,
present and future officers, directors, stockholders, partners, agents,
employees, servants, subrogees, assigns and their respective insurers
("Releasees") from any existing and future actions, claims, and demands for
liability or expenses arising out of L-P's acts or omissions relating to the
design, manufacture, marketing or sale of L-P Inner-Seal Siding, soffit, trim,
or facia on a structure located at _________________________ in the city of
_______________. This Release only applies to the amount of siding found to be
damaged by the independent

<PAGE>

                                    EXHIBIT D

adjuster as noted on the Field Inspection and Evaluation Form and compensated
for by L-P. All other siding not compensated for will continue to be eligible
for compensation pursuant to the terms of the Settlement Agreement.

         Releasors agree to indemnify and hold harmless, L-P against any loss or
expense, exclusive of court costs and attorneys' fees incurred by
Louisiana-Pacific in defense of a claim by any third party resulting from any
further claim, demand or action that may be brought by any other party arising
out of L-P's acts or omissions relating to the design, manufacture, marketing,
and sale of L-P's Inner-Seal siding, soffit, trim, or facia on such premises
specifically including but not limited to third party claims and claims brought
by class members' contractors and subcontractors.

         Releasors certify they own legal and beneficial title to the premises
and the above products; that the Releasors are authorized to enter into this
Release Agreement; that they have carefully read this document and understand
its terms, conditions and effects. Releasors further certify that they have not
previously been paid compensation by L-P on this specific siding material.

__________________________________                ___________________________

__________________________________                ___________________________
(Releasor's name - printed)                       (Releasor's name - printed)

__________________________________                ___________________________
(Date)                                            (Date)

                                     Page 2
<PAGE>

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

               Plaintiffs,                        CASE NO. 94-2458-CA-01

vs.                                               DIVISION NO: 4

LOUISIANA-PACIFIC CORPORATION,                    CLASS REPRESENTATION
a Delaware Corporation, et. al.

               Defendants.

                              REQUEST FOR EXCLUSION

                         Read the Enclosed Legal Notice
                     Carefully Before Filling Out This Form

The undersigned does NOT with to remain a member of the Plaintiff class
certified in the case of JEFFREY ANDERSON and ARMANDINA ANDERSON, his wife, et
al. vs. LOUISIANA-PACIFIC CORPORATION, a Delaware Corporation, et al., in the
Circuit Court of the Fifth Judicial Circuit in and for Lake County, Florida.
I/We understand that by making this request, I/We will not be eligible to
participate in the settlement reached in this case.

                                       Date: _________________________________

                                       _______________________________________

                                       _______________________________________

                                       _______________________________________
                                       (Print Name and Address)

                                       _______________________________________
                                       (Signature)

                                       _______________________________________
                                       (Print Name of Additional Owner if any)

                                       _______________________________________
                                       (Signature of Additional Owner if any)

                                    EXHIBIT E

<PAGE>

If you want to exclude yourself from the class, you must fill in and return this
form by mailing on or before ____________________, 1995, to:

                                       Class Counsel
                                       McLin, Bursed, Morrison, Johnson & Robuck
                                       P. O. Box 491357
                                       Leesburg, FL  34749-1357

A separate request for exclusion should be completed and timely mailed for each
entity electing to be excluded form the class.

                                     Page 2
<PAGE>

               IN THE CIRCUIT COURT OF THE FIFTH JUDICIAL CIRCUIT
                         IN AND FOR LAKE COUNTY, FLORIDA

JEFFREY ANDERSON and ARMANDINA
ANDERSON, his wife, et al.

             Plaintiffs,                        CASE NO. 94-2458-CA-01

vs.                                             DIVISION NO: 4

LOUISIANA-PACIFIC CORPORATION,                  CLASS REPRESENTATION
a Delaware Corporation, et al.

              Defendants.
____________________________________/

                  NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED
                SETTLEMENT OF CLASS ACTION AND SETTLEMENT HEARING

TO:      ALL INDIVIDUALS OR ENTITIES THROUGHOUT THE STATE OF FLORIDA
         WHO OWN REAL PROPERTY WHICH HAS LOUISIANA-PACIFIC INNER-SEAL
         SIDING AS ITS EXTERIOR SIDING MATERIAL ON THAT REAL PROPERTY.
         ("THE CLASS")  DO NOT BE ALARMED.  YOU HAVE NOT BEEN SUED.

                       THIS NOTICE MAY AFFECT YOUR RIGHTS.
                             PLEASE READ CAREFULLY.

         Si usted desea obtener una copia de este documento legal en Espanol,
         favor de actuar immediatamente y escribir a "Class Counsel, McLin,
         Burnsed, Morrison, Johnson & Robuck, P.A., Post Office Box 491357,
         Leesburg, Florida 34749-1357."

                             PURPOSE OF THIS NOTICE

         This Notice is given pursuant to an Order of the Circuit Court of the
State of Florida, Lake County, in accordance with Fla. R. Civ. P. 1.220(e). This
notice is to tell you about (i) the pendency of the above styled class action
lawsuit; (ii) the conditional certification for settlement purposes only of the
above-referenced Class, of which you are or may be a member; (iii) a proposed
settlement of the class action relating to the Defendant, LOUISIANA-PACIFIC; and
(iv) a hearing by the Court on ____________________, 1995, to consider the
fairness, reasonableness and adequacy of the proposed settlement as a result of
which you may be eligible

<PAGE>

                                   EXHIBIT F

to receive a sum of money. This lawsuit was brought on behalf of certain
property owners who have an exterior siding material manufactured by
LOUISIANA-PACIFIC known as INNER-SEAL siding or Oriented Strand Board (OSB).
You may be such a property owner.

         The Plaintiff property owners (the people bringing the lawsuit) charge
that LOUISIANA-PACIFIC manufactured and sold a defective product known as
INNER-SEAL Siding or Oriented Strand Board. The Plaintiffs assert that the
product has prematurely deteriorated on their homes or apartments and has not
performed as warranted. As a result, the Plaintiffs claim that they are legally
entitled to be compensated for the damages that they have incurred. The
Defendant, LOUISIANA-PACIFIC, denies these claims and charges.

         The Court has not ruled on the merits of the Plaintiffs' charges or on
the denials and other defenses made by L-P. The purpose of this notice is to
advise you (who have been identified as possibly such a property owner) of these
proceedings, including a proposed settlement of the case, the potential effect
on your rights, and notice of the upcoming hearing relating to the fairness and
reasonableness of the Settlement Agreement.

                               CLASS ACTION RULING

         The Court has conditionally ruled that this lawsuit may be maintained
as a claim for damages not only by the individuals named in the complaint, but
also on behalf of a Class consisting of certain other property owners of L-P
exterior siding. The Court has named JEFFREY ANDERSON and ARMANDINA ANDERSON,
his wife; JOSEPH BALOGA and KATHLEEN M. BALOGA, his wife; STEVEN C. BELL and
NANCY P. BELL, his wife; TIMOTHY N. BLACKSTONE and JULIE BLACKSTONE, his wife;
DOUGLAS P. BOLOGNESE and JULIA P. BOLOGNESE, his wife; STEVEN M. BOWMAN and
TERESA K. BOWMAN, his wife; WALTER BROWN and TERRY BROWN, his wife; ROBERT K.
CARTER and LINDA L. WILLIAMS-CARTER, his wife; CHARLES B. COE and MARY COE, his
wife; MARY E. COLLIER; JOE CRAWFORD and SUE A. CRAWFORD, his wife; JERRY KENDALL
CURTIS and ALISON H. CURTIN, his wife; STEPHEN E. GODDARD and DONNA GODDARD, his
wife, PHILIP G. GUILBEAULT and ROSEMARY GUILBEAULT, his wife, MARK HANSEN and
LINDA HANSEN, his wife; MILTON O. HARRELL and PATSY A. HARRELL, his wife; LARRY
HAYS and TINA HAYS, his wife; SUSAN JETER; DAVID R. JONES and LYNN L. JONES, his
wife; JUNE N. JONES; PATRICK M. KANE and BRENDA E. KANE, his wife; ERNEST P.
LaROCHE and BETTY LaROCHE, his wife; DENNIS G. LEACH and SEGUNDA P. LEACH, his
wife; PATRICIA LEUNG; STEVEN M. LEWIS and MICHELLE B. LEWIS, his wife; DONALD
McEVER and SHARON McEVER, his wife; ARNOLD S. MILLER and PAMELA J. MILLER, his
wife; JEFFREY B. MOORE and IRENE E. MOORE, his wife; WILLIAM G. MOORE and LYDIA
I. MOORE, his wife; DOUGLAS A. MORAN, JR. and ANNA A. MORAN, his wife; STEPHEN
W. MOSAKOWSKI and LINDA K. MOSAKOWSKI, his wife; DONALD L. NICHOLSON and CAROLYN
N. NICHOLSON, his wife; ROBERT A. PARKER and ROBIN L. PARKER, his wife; KEITH H.
PARTLOW and PAULA L. PARTLOW, his wife; LAWRENCE O'HARA PARTRIDGE

                                     Page 2
<PAGE>

and LORI ANNE PARTRIDGE, his wife; TIMOTHY ROOD and MERI BETH ROOD, his wife;
ALAN G. SHIRLEY and DENISE SHIRLEY, his wife; DENNIS R. SMITH and LINDA L.
SMITH, his wife; MIRIAM SMITH; RENEE M. SMITH; JACK W. STANLEY and GLENDA
STANLEY, his wife; SUSAN M. STRIBY; STEVEN M. SUMERFELT and DARLENE L.
SUMERFELT, his wife; BRAD TUBBS and MARY TUBBS, his wife; SCOTT T. WALKER and
LISA JO WALKER, his wife; FRANK WASHBOURNE and LINDA WASHBOURNE, his wife;
CURTIS D. WILLIAMS and RHONDA F. WILLIAMS, his wife; LEE J. WITHINGTON; and
DANIEL ZIMMER and CRYSTAL ZIMMER, his wife as class representatives and their
attorneys, Walter S. McLin, III, Esquire and Phillip S. Smith, Esquire, of
McLin, Burnsed, Morrison, Johnson & Robuck as counsel for the Class. The Class
consists of those persons and entities throughout the state of Florida who own
real property which has LOUISIANA-PACIFIC INNER-SEAL siding as its exterior
siding material on that real property. The Class does not include the following:

         1.       Property owners who have previously signed full releases of
                  claims against LOUISIANA-PACIFIC and received compensation for
                  all owned square footage of siding material;

         2.       Property owners who have executed arbitration agreements with
                  LOUISIANA-PACIFIC or have participated in arbitration with
                  LOUISIANA-PACIFIC with respect to all owned square footage of
                  exterior siding material;

         3.       Property owners who are parties to lawsuits as of the date of
                  filing, October 19, 1994, of the Class Action Petition;
                  however, such property owners may choose to designate
                  themselves affirmatively as members of the Class within 100
                  days after issuance of this notice.

         4.       Property owners who have removed or replaced their L-P
                  exterior siding with a product other than L-P exterior siding
                  before the independent adjuster has had the opportunity to
                  make the inspection on the property as contemplated by the
                  Settlement Agreement.

The conditional ruling is contingent on the Court ultimately approving the
proposed Settlement Agreement after the hearing on the fairness and
reasonableness of such settlement.

                          TERMS OF PROPOSED SETTLEMENT

         Subject to Court approval, the named Plaintiffs and the Defendant,
LOUISIANA-PACIFIC, have agreed on a settlement of this case under which
LOUISIANA-PACIFIC will pay to the Class Members (who do not timely elect to
exclude themselves from the Class) compensation based on an independent
inspection and examination of each property by an independent adjuster. Under
the proposed Settlement Agreement, a class member wishing to make a claim will
be able to call a 1-800 number in order to begin the settlement process.

                                     Page 3
<PAGE>

         The independent adjuster will calculate the square footage of damaged
siding and multiply the square footage times the cost per square foot necessary
to completely replace all of the damaged siding as calculated from the Means
Data Construction figures for the state of Florida. From that calculation, the
independent adjuster will make deductions for improper design/installation by
the builder and improper maintenance by the property owner. Additionally, a
deduction will be made on the basis of 5% per year for any property over 3 years
old. The adjuster will then calculate the amount owed to the Class Member by
LOUISIANA-PACIFIC and will forward to LOUISIANA-PACIFIC the inspection report
together will all calculations.

         LOUISIANA-PACIFIC will then forward to Class Counsel within thirty (30)
days, the settlement check in the calculated amount. Class Counsel will obtain a
written release from the class member and promptly deliver LOUISIANA-PACIFIC's
settlement check to the Class Member. Under the proposed Settlement Agreement,
the Defendant, LOUISIANA-PACIFIC, will extend the period in which a class member
can make a claim for up to 5 years from the date of the Court's Final Order
accepting the Settlement Agreement. LOUISIANA-PACIFIC will pay the attorney's
fees and expenses of Class Counsel independent of payments to the class in the
amount of $_____________________ subject to approval by the Court. In addition,
LOUISIANA-PACIFIC will pay an amount to the named plaintiffs as compensation for
the expenses and efforts relating to the participation in this lawsuit.

         LOUISIANA-PACIFIC does not admit any wrong doing or liability on its
part; the proposed Settlement Agreement with LOUISIANA-PACIFIC is a compromise
of disputed claims and does not mean that it is liable for the charges made by
the Plaintiffs. If approved, the Settlement will discharge LOUISIANA-PACIFIC
from any further liability to the Class Members for the conduct alleged by the
Plaintiffs except as provided for in the Settlement Agreement.

                            ELECTION BY CLASS MEMBERS

         If you fit the above-description of a Class Member, you have a choice
whether to remain a member of the Class on whose behalf this suit is being
maintained. Either choice will have its consequences, which you should
understand before making your decision. If you want to be excluded from the
Class, you must complete the enclosed form ("Request for Exclusion") and return
it to "Class Counsel, McBin, Burnsed, Morrison, Johnson & Robuck, P.A., Post
Office Box 491357, Leesburg, Florida 34749-1357," by mail, postmarked no later
than _____________, 199___. By making this election to be excluded, (1) you will
not share in any recovery that might be paid to property owners as a result of
trial or settlement of this lawsuit; (2) you will not be bound by any decision
in this lawsuit favorable to the Defendant, LOUISIANA-PACIFIC; and (3) you may
present any claims you have against Defendant, LOUISIANA-PACIFIC, by filing your
own lawsuit; or (4) you may seek to intervene in this lawsuit.

         If you want to remain a member of the Class, you should not file the
"Request for Exclusion" and are not required to do anything at this time. By
remaining a Class Member, any claims against the Defendant, LOUISIANA-PACIFIC,
for damages arising from the Defendant, LOUISIANA-

                                     Page 4
<PAGE>

PACIFIC's defective products as alleged by the Class representatives will be
determined in this case and cannot be presented in any other lawsuit.

RIGHTS AND OBLIGATIONS OF CLASS MEMBERS

         If you remain a member of the Class:

         1.       The named Plaintiffs and their attorneys will act as your
                  representatives and counsel for the presentation of the
                  charges against the Defendant. If you desire, you may appear
                  by your own attorney. You may also seek to intervene
                  individually and may advise the Court if at any time you
                  consider that you are not being fairly and adequately
                  represented by the named Plaintiffs or their attorneys.

         2.       Your participation in the recovery which may be obtained from
                  the Defendant LOUISIANA-PACIFIC through settlement will depend
                  upon the Court's final approval of the Settlement Agreement
                  and your ultimately signing a release in favor of
                  LOUISIANA-PACIFIC.

         3.       You may be required as a condition to participating in the
                  settlement to present evidence respecting the damage to your
                  property. You should therefore preserve invoices, pictures,
                  records or other evidence of the damages to your property.\

         4.       You will be requested to notify Class Counsel of any
                  corrections or changes in your name or address so that
                  additional information will be forwarded to you.

                               SETTLEMENT HEARING

         The Court will hold a hearing in court room __________, in the Circuit
Court of the Fifth Judicial Circuit in and for Lake County, Florida, Lake County
Judicial Center in Tavares, Florida, at _______ _.M. on _____________________,
the ______ day of _________________, 199__, to determine whether, as recommended
by both Class Counsel and the Class Representatives, it should approve the
proposed Settlement Agreement.

         Objections to the proposed Settlement Agreement by Class Members (who
do not timely elect to exclude themselves from the Class) will be considered by
the Court, but only if such objections are filed in writing with the Clerk by
mail postmarked before _________________, 199__. Attendance at the hearing is
not necessary; however, Class Members wishing to be heard orally in opposition
to the proposed Settlement Agreement should indicate, in their written
objection, their intention to appear at the hearing.

         Class Members who support the proposed Settlement Agreement do not need
to appear at the hearing or take any other action to indicate their approval.

                               FURTHER PROCEEDINGS

                                     Page 5
<PAGE>

         If the Settlement is approved by the Court, procedures will be
established to effectuate the terms of the Settlement Agreement. Class Counsel
believes that, unless delayed by appeals or unforseen events, the settlement
process may begin by __________________, 1995. You should preserve records,
pictures, invoices of siding purchases and obtain a Certificate of Occupancy to
establish the installation date of your LOUISIANA-PACIFIC siding.

         If the Settlement is not approved, the case will continue to be
prepared for trial or other judicial resolution of the claims and defenses and
the conditional certification will cease. The case is not expected to be ready
for trial before ____________________, 199__, as substantial discovery remains
to be conducted. Depending upon the results of the trial, further proceedings
may be necessary before the case is finally resolved.

                             ADDITIONAL INFORMATION

         Any questions you have about the matters contained in this Notice, and
any corrections or changes of name or address should NOT be made to the Court
but should be directed in writing to Class Counsel, McLin, Burnsed, Morrison,
Johnson & Robuck, P.A., Post Office Box 491357, Leesburg, Florida 34749-1357. If
you decide to remain a member of the Class and wich to communicate with Class
Counsel as your attorney in this litigation, you may do so by writing to Class
Counsel, Walter S. McLin, III, Esquire and/or Phillip S. Smith, Esquire, of
McLin, Burnsed, Morrison, Johnson & Robuck, P.A., Post Office Box 491357,
Leesburg, Florida 34749-1357.

         You may of course seek the advice and guidance of your own attorney if
you desire. The pleadings and other records in this litigation, including a
complete copy of the proposed Settlement Agreement, may be examined and copied
at any time during regular office hours at the office of the Lake County Clerk
of Court, Lake County Judicial Center, 550 West Main Street, Tavares, Florida.

                                    REMINDERS

         IF YOU WISH TO BE EXCLUDED FROM THE CLASS ON WHOSE BEHALF THIS ACTION
IS BEING MAINTAINED, RETURN THE COMPLETED "REQUEST FOR EXCLUSION" TO CLASS
COUNSEL BY MAIL POSTMARKED BEFORE ___________________, 1995.

         IF YOU WISH TO REMAIN A MEMBER OF THE CLASS BUT WANT TO OBJECT TO THE
PROPOSED SETTLEMENT, FILE YOUR WRITTEN OBJECTION WITH THE CLERK OF THE COURT BY
MAIL POSTMARKED BEFORE ___________________, 1995. INCLUDE ANY REQUEST TO BE
HEARD ORALLY AT THE HEARING.

         Dated this ______ day of ______________________, 1995.

                                             ___________________________________
                                             Clerk of the Court

                                     Page 6
<PAGE>

Enclosure:  Request for Exclusion

                                     Page 7
<PAGE>

                  AMENDMENT TO SETTLEMENT AGREEMENT - NUMBER 1

         Paragraph 8.2 on page 14 of the Settlement Agreement will be amended
and replaced by paragraph 8.2 as stated below:

         8.2      Each independent adjuster will be required to attend a
                  training session presented jointly by Class Counsel and
                  Louisiana-Pacific.

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by:  /s/ D. R. Kayser                         Date:    AUGUST 9, 1995
    --------------------------------------          ----------------------------

    D. R. KAYSER, CHIEF EXECUTIVE OFFICER
    --------------------------------------
          (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

         The foregoing instrument was acknowledged before me this 9th day of
August, 1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

 /s/ Sara Welliver                                       [SEAL]
------------------------------------------
(Signature of Notary Public)

Sara Welliver
------------------------------------------
(Print Name of Notary Public)

A026228
------------------------------------------
(Serial/Commission Number)

   X    Personally Known or Produced ____________________as identification.
-------

                                     Page 1
<PAGE>

 /s/ Walter S. McLin, III                   /s/ George R. Miller
--------------------------------------     -------------------------------------
WALTER S. McLIN, III                       GEORGE R. MILLER
Florida Bar No. 053465                     Florida Bar No. 105201
PHILLIP S. SMITH                           Post Office Box 687
Florida Bar No. 0999040                    DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison                   (904) 892-5153
Johnson & Robuck, P.A.                     Attorney for Louisiana-Pacific
Post Office Box 491357                     Corporation
Leesburg, Florida 34749-1357
(904) 787-1241
CLASS COUNSEL
                                            /s/ Robert M. Schick
                                           -------------------------------------
                                           ROBERT M. SCHICK, of
                                           Vinson & Elkins, L.L.P.
                                           2300 First City Tower
                                           1001 Fannin Street
                                           Houston, Texas 77002-6760
                                           (713) 758-4582
                                           Attorneys for Louisiana-Pacific
                                           Corporation

                                     Page 2

<PAGE>

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by:  /s/ D. R. Kayser                                 Date:    August 9, 1995
    ------------------------------------------               -------------------

      D. R. Kayser, Chief Executive Officer
    ------------------------------------------
              (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

The foregoing instrument was acknowledged before me this 9th day of August,
1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

 /s/ Sara Welliver                                        [SEAL]
----------------------------------------------
(Signature of Notary Public)

Sara Welliver
----------------------------------------------
(Print Name of Notary Public)

A026228
----------------------------------------------
(Serial/Commission Number)

   X    Personally Known or Produced __________________as identification.
-------

 /s/ Walter S. McLin, III                   /s/ George R. Miller
-----------------------------------        ------------------------------------
WALTER S. McLIN, III                       GEORGE R. MILLER
Florida Bar No. 053465                     Florida Bar No. 105201
PHILLIP S. SMITH                           Post Office Box 687
Florida Bar No. 0999040                    DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison                   (904) 892-5153
   Johnson & Robuck, P.A.                  Attorney for Louisiana-Pacific
Post Office Box 491357                     Corporation
Leesburg, Florida 34749-1357
(904) 787-1241
CLASS COUNSEL
                                            /s/ Robert M. Schick
                                           ------------------------------------
                                           ROBERT M. SCHICK, of
                                           Vinson & Elkins, L.L.P.
                                           2300 First City Tower
                                           1001 Fannin Street
                                           Houston, Texas 77002-6760

                                     Page 3
<PAGE>

                                           (713) 758-4582
                                           Attorneys for Louisiana-Pacific
                                           Corporation

                  AMENDMENT TO SETTLEMENT AGREEMENT - NUMBER 3

         Paragraphs 15.1 and 15.2 on page 20 shall be deleted and the new
paragraphs 15.1 and 15.2 below shall be inserted in its place.

         15.1     The Parties shall request that the Court enter an order
                  barring and prohibiting the commencement and prosecution of
                  any claim or action by any Class Member against
                  Louisiana-Pacific, including but not limited to, any
                  negligence, breach of warranty, breach of contract,
                  misrepresentation, contribution, indemnity, and/or subrogation
                  claims (except subrogation claims explicitly preserved under
                  Section 13), seeking reimbursement for payments made or to be
                  made to any Settlement Class member for claims relating to
                  Louisiana-Pacific Inner-Seal Siding. Louisiana-Pacific shall
                  be entitled to dismissal with prejudice of any such claim
                  against it which violate or are inconsistent with this bar.

         15.2     Any Settlement Class member making a claim against a Third
                  Party (other than that Settlement Class member's insurance
                  carrier) for what would be a Settled Claim if asserted against
                  Louisiana-Pacific, shall indemnify and hold harmless
                  Louisiana-Pacific from any claim of contribution or indemnity
                  asserted by such Third party against Louisiana-Pacific.
                  Provided that, the Settlement Class member will not be liable
                  for attorney's fees or costs incurred by Louisiana- Pacific in
                  defense of a claim by a third party.

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by: /s/ D. R. Kayser                              Date:    August 9, 1995
    ---------------------------------------             ------------------------

    D. R. Kayser, Chief Executive Officer
    ---------------------------------------
            (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

         The foregoing instrument was acknowledged before me this 9th day of
August, 1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

                                     Page 1
<PAGE>

/s/ Sara Welliver                                          [SEAL]
--------------------------------------
(Signature of Notary Public)

Sara Welliver
--------------------------------------
(Print Name of Notary Public)

A026228
--------------------------------------
(Serial/Commission Number)

  X  Personally Known or Produced ____________________as identification.
-----

/s/ Walter S. McLin, III                     /s/ George R. Miller
---------------------------------           ------------------------------------
WALTER S. McLIN, III                        GEORGE R. MILLER
Florida Bar No. 053465                      Florida Bar No. 105201
PHILLIP S. SMITH                            Post Office Box 687
Florida Bar No. 0999040                     DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison                    (904) 892-5153
Johnson & Robuck, P.A.                      Attorney for Louisiana-Pacific
Post Office Box 491357                      Corporation
Leesburg, Florida 34749-1357
(904) 787-1241
CLASS COUNSEL
                                             /s/ Robert M. Schick
                                            ------------------------------------
                                            ROBERT M. SCHICK, of
                                            Vinson & Elkins, L.L.P.
                                            2300 First City Tower
                                            1001 Fannin Street
                                            Houston, Texas 77002-6760
                                            (713) 758-4582
                                            Attorneys for Louisiana-Pacific
                                            Corporation

                                     Page 2
<PAGE>

                  AMENDMENT TO SETTLEMENT AGREEMENT - NUMBER 4

          FIELD INSPECTION AND EVALUATION FORM AMENDMENT - EXHIBIT "C"

         Delete Item 4 under Owner Maintenance on page 3. The parties agree that
no deduction shall be taken under the category of Owner Maintenance for plants
in direct contact with the siding.

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by:  /s/ D. R. Kayser                            Date:     August 9, 1995
    ---------------------------------------            -------------------------

    D. R. Kayser, Chief Executive Officer
    ---------------------------------------
            (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

         The foregoing instrument was acknowledged before me this 9th day of
August, 1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

/s/ Sara Welliver                                             [SEAL]
-------------------------------------------
(Signature of Notary Public)

Sara Welliver
-------------------------------------------
(Print Name of Notary Public)

A026228
-------------------------------------------
(Serial/Commission Number)

   X    Personally Known or Produced _________________ as identification.
-------

                                     Page 1
<PAGE>

/s/ Walter S. McLin, III                    /s/ George R. Miller
------------------------------------        ------------------------------------
WALTER S. McLIN, III                        GEORGE R. MILLER
Florida Bar No. 053465                      Florida Bar No. 105201
PHILLIP S. SMITH                            Post Office Box 687
Florida Bar No. 0999040                     DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison                    (904) 892-5153
 Johnson & Robuck, P.A.                     Attorney for Louisiana-Pacific
Post Office Box 491357                      Corporation
Leesburg, Florida 34749-1357
(904) 787-1241                              /s/ Robert M. Schick
CLASS COUNSEL                               ------------------------------------
                                            ROBERT M. SCHICK, of
                                            Vinson & Elkins, L.L.P.
                                            2300 First City Tower
                                            1001 Fannin Street
                                            Houston, Texas 77002-6760
                                            (713) 758-4582
                                            Attorneys for Louisiana-Pacific
                                            Corporation

                                     Page 2

<PAGE>

                  AMENDMENT TO SETTLEMENT AGREEMENT - NUMBER 5

          FIELD INSPECTION AND EVALUATION FORM AMENDMENT - EXHIBIT "C"

         Delete Item 3 under Owner Maintenance on page 3. The parties agree that
no deduction shall be taken under the category of Owner Maintenance for
sprinkler overspray.

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by: /s/ D. R. KAYSER                               Date:      August 9, 1995
    ---------------------------------------             ------------------------

    D. R. Kayser, Chief Executive Officer
    ---------------------------------------
            (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

         The foregoing instrument was acknowledged before me this 9th day of
August, 1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

/s/ Sara Welliver                                            [SEAL]
--------------------------------------
(Signature of Notary Public)

Sara Welliver
--------------------------------------
(Print Name of Notary Public)

A026228
--------------------------------------
(Serial/Commission Number)

     X    Personally Known or Produced                        as identification.
---------                             ------------------------

                                     Page 1
<PAGE>

/s/ Walter S. McLin, III               /s/ George R. Miller
---------------------------------      ---------------------------------------
WALTER S. McLIN, III                   GEORGE R. MILLER
Florida Bar No. 053465                 Florida Bar No. 105201
PHILLIP S. SMITH                       Post Office Box 687
Florida Bar No. 0999040                DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison               (904) 892-5153
  Johnson & Robuck, P.A.               Attorney for Louisiana-Pacific
Post Office Box 491357                 Corporation
Leesburg, Florida 34749-1357
(904) 787-1241                          /s/ Robert M. Schick
CLASS COUNSEL                           ----------------------------------------
                                        ROBERT M. SCHICK, of
                                        Vinson & Elkins, L.L.P.
                                        2300 First City Tower
                                        1001 Fannin Street
                                        Houston, Texas 77002-6760
                                        (713) 758-4582
                                        Attorneys for Louisiana-Pacific
                                        Corporation

                                     Page 2
<PAGE>

                  AMENDMENT TO SETTLEMENT AGREEMENT - NUMBER 6

         The following language should be added to the Definition of
"Replacement Cost" found on page 6.

                  The replacement cost per foot will be $13.07 for the
                  replacement of Louisiana- Pacific fascia, $14.71 for trim and
                  $3.40 for soffit.

         IN WITNESS WHEREOF, the parties have set their hands and seals
effective of the date set forth below.

LOUISIANA-PACIFIC CORPORATION,
A DELAWARE CORPORATION

by: /s/ D. R. Kayser                                 Date:          8/31/95
    -------------------------------------------           ----------------------
    D. R. Kayser, Chief Executive Officer
    -------------------------------------------
          (Printed name and title)

STATE OF OREGON
COUNTY OF MULTNOMAH

         The foregoing instrument was acknowledged before me this 31st day of
August, 1995, by D. R. Kayser the Chief Executive officer of LOUISIANA-PACIFIC
CORPORATION, a Delaware Corporation, on behalf of the corporation.

/S/ Holly Taft                                                      [SEAL]
-------------------------------------------
(Signature of Notary Public)

Holly Taft
-------------------------------------------
(Print Name of Notary Public)

041888 - Oregon
-------------------------------------------
(Serial/Commission Number)

     X    Personally Known or Produced                        as identification.
---------                             ------------------------

                                     Page 1
<PAGE>

/s/ Walter S. McLin, III                   /s/ George R. Miller
--------------------------------           -------------------------------------
WALTER S. McLIN, III                       GEORGE R. MILLER
Florida Bar No. 053465                     Florida Bar No. 105201
PHILLIP S. SMITH                           Post Office Box 687
Florida Bar No. 0999040                    DeFuniak Springs, Florida 32422-0687
McLin, Burnsed, Morrison                   (904) 892-5153
  Johnson & Robuck, P.A.                   Attorney for Louisiana-Pacific
Post Office Box 491357                     Corporation
Leesburg, Florida 34749-1357
(904) 787-1241                             /s/ Robert M. Schick
CLASS COUNSEL                              --------------------------------
                                           ROBERT M. SCHICK, of
                                           Vinson & Elkins, L.L.P.
                                           2300 First City Tower
                                           1001 Fannin Street
                                           Houston, Texas 77002-6760
                                           (713) 758-4582
                                           Attorneys for Louisiana-Pacific
                                           Corporation

                                     Page 2

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