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Stands for loss of signal - I had this problem several times.
Several things can cause this. In my experience, I think it was a bad motor brush.
The first time, the PWM Lower board, the one with the two big blue capacitors burned (the cables/posts) that go to the motor. I checked the motor brushes, they looked fine. I replaced the PWM board, but a year later got the LS error again, replaced the board one more time (btw, the brushes looked ok). A TM tech recommended I also replace the treadmill belt. Things ran well for about 5 months or so. Then it happened again, but this time one of the two motor brushes -the spring that helps keep it in place, didn't have any, well spring in the spring, replaced them, and now the thing works like the day I bought it,
I'm of the opinion, that the root of the problem was the d#$@ brushes. Even though they looked ok, one of them at least was really not. And after all of this, I read somewhere that those should be replaced every 5-6 years in residential TMs..I think the same holds true for the walking belt..and lubricate that thing with the right silicon lubricant.. Hope this helps..