Load Page Timeout (sec) is the maximum acceptable time for fetching a page. When this time is reached, the control exists from the timeout exit. The range is from 0 to 3600 seconds. A small value is not realistic. On the other hand, pages a long loading time might encourage you to use the InProgress exit (see below).
Maximum time to wait in control (sec) is useful when using the InProgress exit. When WebQuery is fetching a page and the call-flow exits from InProgress exit because it is likely to take longer time, you should design the call flow to play ads or any other greetings and check back to WebQuery to see if fetching is done. This property defines the minimum time we afford to stay in WebQuery for this process.