Page:United States Statutes at Large Volume 42 Part 1.djvu/141

 SIXTY-SEVENTH CONGRESS. Sess. I. Ch. 42. 1921. 113 ments shall continue to bear interest at the rate of 5 per centum per annum on the unpaid principal and interest. _ _ _ (3) In case the borrower s interest in his tract or his successor’s ¤£,S}{¥,°£t m mm mterest therein is transferred to or mortgaged, pledged, or otherwise held for the benefit of any native Hawaiian, or agreed so to be transferred, mortgaged, pledged, or otherwise held, as permitted by para- ‘l”"’p' m' graph (5) 0 section 20Q of this title, the commission may at its option declare all annual mstallments upon the loan immediately due and payable or permit the successor to the borrower's interest in the tract to assume the contract of loan. In case of the borrower’s death, the commission shall permit the successor to the borrower’s interest m the tract to assume the contract of loan. U mm (4) No part of the moneys loaned shall be devoted to any purpose pesgiiistiu. mp`"` other than those for which the loan is made. C0 Ha (5) The borrower or the successor to his interest in the tract shall »nmu§i°1p¤i1li°iia°¤iii°h comply with such other conditions, not in conflict with any provision of this title, as the commission may stipulate in the contract of loan. Lm ·di _ (6) The borrower or the successor to his interest in the tract shall .41ste?;?ll11lm¤s· comply with the conditions enumerated in section 208, and with the provisions of section 209 of this title in respect to the lease of the tract. Sec. 216. The commission may require the borrower to insure, in eri?ium°° °f pm? such amount as the commission may by regulation prescribe, all liye stock and dwellings and other permanent improvements upon his tract, purchased or constructed out of any moneys loaned from the fund; or m lieu thereof the commission may directly take out such insurance and add the cost thereof to the amount 0 the annual in- ,;,,,,,.,,1,;, 0,, ,.,,,,3, stallments payable under the amortization plan. · Whenever the ¤¤¤¤f¤¤¤di*i¤¤¤- commission has reason to believe that the borrower has violated any condition enumerated in paragraphs (2), (4), (5), or (6) of section 215 of this title, the commission shall give due notice and afford opportunity for a hearing to the borrower or the successor to his Immediate B mt interest in the tract, as the case demands. If upon such hearing the irvmimea priivg commission finds that the borrower has violated the condition, the commission ma declare all annual installments immediately due and payable, notwithstanding any provision in the contract of loan to the mn upoupmpmy contrary. The commission shall have a lien upon the borrower’s or ac. ’ lessee’s interest in his tract, dwellings, and other permanent improvements thereon, and his live stoc to the amount of all annual installments due and unpaid and of all taxes upon such tract and improvements paid by the commission. Such liens shall have plriority over any other obligation for which the tract, dwellings, other improvements, or live stock may be security. he commission may, at such time as it deems advisable, enforce E‘*‘°'°°°’°°° °‘“°°· any such lien by declaring the borrower’s interest in his tract or his successor’s interest therein, as the case may be, together with the dwellings and other permanent improvements thereon and the live stock, to be forfeited, and the lease in respect to such tract canceled, and shall thereu on order the tract to be vacated and the live stock surrendered witlliin a reasonable time. The right to the use and c,,§,*,°§}§?,,§§_ '"°s° in occupancy of the Hawaiian home lands contain in_such tract shall thereupon revest in the commission, and the commission may take ossession of the tract and the improvements thereon: Provided, {»°§§,‘§’§;,, 0, ,m,,,_ That the commission shall pa to the borrower any difference in his °¤°°*° b°¤°*¤’· favor between (1) the fair valiie of the live stock and any improvements in respect to the tract made by the borrower or ang predecessor to his interest in the tract, and (2) the amount of the 'en. _ Sec. 217. In case the lessee or borrower or the successor to his d,§$_°°‘”“°“‘ "’°°°` interest in the tract, as the case may be, fails to comply with any order issued by the commission under the provisions of section 210 or 216 of this title, the commission may (1) ring action of ejectment 4f2150°—