update storage-class and default lb timeouts

[sknop-cgn]

Description

Please include a summary of the change and which issue is fixed. Please also include relevant motivation and context. List any dependencies that are required for this change.

Type of change

Please delete options that are not relevant.

• Documentation update
• Bug fix (non-breaking change which fixes an issue)
• New feature (non-breaking change which adds functionality)
• Design or organisational change

Checklist:

Documentation

• My documentation follows the style, formatting and structure guidelines of this project ( Styling-Guideline )
• I have performed a self-review of my own documentation ( General-Guide )

Technical

• I have performed a self-review of my changes
• I have made corresponding changes to the documentation
• My changes generate no new warnings
• New and existing tests pass locally with my changes