facture (sea stores excepted), or any taxable domestic spirits, wines, or other alcoholic liquors, on which the duties or taxes have not been paid or secured to be paid, she shall, together with her tackle, apparel and furniture, and the lading found on board, be forfeited. Marks, labels, brands, or stamps, indicative of foreign origin, upon or accompanying merchandise or containers of merchandise found on board such vessei, shall be prima facie evidence of the foreign origin of such merchandise. But if the license shall have expired while the vessel was at sea, and there shall have been no opportunity to renew such license, then said fine or forfeiture shall not be incurred. (June 19, 1886, ch. 421, § 7, 24 Stat. 81; Aug. 5, 1935, ch. 438, title III, § 314, 49 Stat. 529.)

REFERENCES IN TEXT

The words "this chapter", referred to in the text, are a translation of "this title" appearing in the act of June 19, 1886. That act was not subdivided into titles, and section 7 did not expressly amend any section of the Revised Statutes. The term is therefore ambiguous, but probably was intended to refer to Title 50 of the Revised Statutes, set out, so far as still in force, in sections 251-255, 258, 259, 262-272, 274-280, 293, 306-316, 318, 321-330, and 333-335 of this title.

AMENDMENTS

1935-Act Aug. 5, 1935, provided for forfeiture, to deem marks, etc., prima facie evidence of foreign origin of merchandise, and to substitute words "said fine or forfeiture" for "said fine of $30" in last sentence.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 320 of this title.

§ 323. Penalty for forgery and alteration.

Every person who forges, counterfeits, erases, alters, or falsifies any enrollment, license, certificate, permit, or other document, mentioned or required in sections 251 to 255, 258, 259, 262 to 280, 293, 306 to 316, 318, 321 to 330, and 333 to 335 of this title, to be granted by any officer of the revenue, such person, so offending, shall be liable to a penalty of $500. (R. S. § 4375.)

DERIVATION

Act Feb. 18, 1793, ch. 8, § 30, 1 Stat. 316.

REFERENCES IN TEXT

Section 273, included within the reference to sections 262 to 280 of this title, was repealed by Pub. L. 89-476, § 2(d), June 29, 1966, 80 Stat. 230.

CROSS REFERENCES

Ship's papers, counterfeiting and forgery, see section 507 of Title 18, Crimes and Criminal Procedure.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in sections 251, 268, 274, 275, 321, 322, 324, 326, 328, 332, 333, 335, 336 of this title. § 324. Penalty for obstructing officers.

Every person who assaults, resists, obstructs, or hinders any officer in the execution of any Act or law relating to the enrollment, registry, or licensing of vessels, or of sections 251 to 255, 258, 259, 262 to 280, 293, 306 to 316, 318, 321 to 330, and 333 to 335 of this title, or of any of the powers or authorities vested in him by any such Act or law, shall, for every such offense, for which no other penalty is particularly provided, be liable to a penalty of $500. (R. S. § 4376.)

DERIVATION

Act Feb. 18, 1793, ch. 8. § 31, 1 Stat. 316.

REFERENCES IN TEXT

Section 273, included within the reference to sections

262 to 280 of this title, was repealed by Pub. L. 89-476, § 2(d), June 29, 1966, 80 Stat. 230. CROSS REFERENCES

Assault, penalty, see section 111 et seq. of Title 18, Crimes and Criminal Procedure.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 251, 268, 274, 275, 321, 322, 323, 326, 328, 332, 333, 335, 336 of this title.

§ 325. Penalty for violation of license.

Whenever any licensed vessel is transferred, in whole or in part, to any person who is not at the time of such transfer a citizen of and resident within the United States, or is employed in any other trade than that for which she is licensed, or is employed in any trade whereby the revenue of the United States is defrauded, or is found with a forged or altered license, or one granted for any other vessel, or with merchandise of foreign growth or manufacture (sea stores excepted), or any taxable domestic spirits, wines, or other alcoholic liquors, on which the duties or taxes have not been paid or secured to be paid, such vessel with her tackle, apparel and furniture, and the cargo, found on board her, shall be forfeited. But vessels which may be licensed for the mackerel fishery shall not incur such forfeiture by engaging in catching cod or fish of any other description whatever. For the purposes of this section, marks, labels, brands, or stamps, indicative of foreign origin, upon or accompanying merchandise or containers of merchandise found upon any vessel, shall be prima facie evidence of the foreign origin of such merchandise. (R. S. § 4377; Aug. 5, 1935, ch. 438, title III, § 313, 49 Stat. 528.)

DERIVATION

Acts Feb. 18. 1793, ch. 8. § 32, 1 Stat. 316; Apr. 20. 1836, ch. 55, 5 Stat. 16

AMENDMENTS

1935-Act Aug. 5, 1935, subjected to forfeiture any vessel employed in any trade whereby revenue of the United States is defrauded or which is found with merchandise of foreign growth or manufacture or any domestic alcoholic liquors on which duties or taxes have not been paid and added the sentence making marks, etc., prima facie evidence of foreign origin of merchandise.

CROSS REFERENCES

Boarding vessels; search of persons and baggage, regulations, see sections 1581 and 1582 of Title 19, Customs Duties.

Canal boats or boats employed on internal waters or canals of any state, exemption from requirements of this section, see section 336 of this title.

Fine, penalty or forfeiture, jurisdiction, see section 1355 of Title 28, Judiciary and Judicial Procedure. Fishing vessels; transfer and transportation of catch of other vessels, see section 404a of this title.

Forfeitures, see sections 5601 et seq. and 7301 et seq. of Title 26, Internal Revenue Code.

Mitigation, refunding and remission of penalties under laws relating to vessels, seamen, and customs, see sections 7 and 8 of this title and section 1618 of Title 19, Customs Duties.

Nationality and naturalization, see section 1401 et seq. of Title 8, Aliens and Nationality.

Numbering undocumented vessels, see section 527 et seq. of this title.

Seizures, see section 1602 et seq. of Title 19, Customs Duties.

Ship's papers, counterfeiting and forgery, see section 507 of Title 18, Crimes and Criminal Procedure. Unlawfully proceeding on foreign voyage, penalty, see section 278 of this title.

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 251, 268, 274, 275, 321, 322, 323, 324, 326, 328, 332, 333, 335, 336 of this title.

Sec.

§ 1401. Authorization for payment of subsidies for construction of fishing vessels.

In order to correct inequities in the construction of fishing vessels of the United States, the Secretary of the Interior is authorized to pay in accordance with this chapter a subsidy for the construction of fishing vessels in the shipyards of the United States. (Pub. L. 86-516, § 1, June 12, 1960, 74 Stat. 212; Pub. L. 88-498, § 2(1), Aug. 30, 1964, 78 Stat. 614.) AMENDMENTS

1964-Pub. L. 88-498 restated the purpose of the subsidy as being to correct inequities in the construction of fishing vessels of the United States instead of as being to assist certain depressed segments of the fishing industry.

SHORT TITLE

Section 1 of Pub. L. 88-498 provided: "That the Act of June 12, 1960, as amended [enacting this chapter], may be cited as the 'United States Fishing Fleet Improvement Act'."

§ 1402. Application for subsidy; conditions.

Any citizen of the United States may apply to the Secretary for a construction subsidy to aid in construction of a new fishing vessel in accordance with this chapter. Any citizen of the United States may apply to the Secretary for a construction subsidy to aid in the remodeling of any vessel in accordance with this chapter. No such application shall be approved by the Secretary unless he determined that (1) the plans and specifications for the fishing vessel are suitable for use in the fishery in which that vessel will operate and suitable in the case of a new fishing vessel and, when appropriate, a remodeled vessel, for use by the United States for National Defense or military purposes in time of war or National emergency, (2) that the applicant possesses the ability, experience, resources, and other qualifications necessary to enable him to operate and maintain the proposed fishing vessel, (3) will aid in the development of the United States fisheries under conditions that the Secretary considers to be in the public interests, (4) that the vessel, except under force majeure will deliver its full catch to a port of the United States, (5) that the applicant will employ on the vessel only citizens of the United States

or aliens legally domiciled in the United States, (6) the vessel will be documented under the laws of the United States, (7) the vessel will be modern in design and equipment, be capable, when appropriate, to operate in expanded areas, and will not operate in a fishery if such operation would cause economic hardship to operators of efficient vessels already operating in that fishery unless such vessel will replace a vessel of the applicant operating in the same fishery during the twenty-four-month period immediately preceding the date an application is filed by the applicant, and having a comparable fishing capacity of the replacement vessel, and (8) such other conditions as the Secretary may consider to be in the public interest. (Pub. L. 86-516, § 2, June 12, 1960, 74 Stat. 212; Pub. L. 88-498, § 2(2), Aug. 30, 1964, 78 Stat. 614; Pub. L. 91-279, § 1, June 12, 1970, 84 Stat. 307.)

AMENDMENTS

1970-Pub. L. 91-279 authorized application for construction subsidy to aid in remodeling of any vessel; inserted in cl. (1) after "and suitable" the words ", in the case of a new fishing vessel and, when appropriate, a remodeled vessel, "; deleted in cl. (2) the term "new" from the phrase "new fishing vessel"; and, in rewriting cl. (7), required the vessel to be modern in design rather than of advance design, that it be modern in equipment rather than that it be equipped with newly developed gear, and that it replace a vessel of the applicant operating in the same fishery during the twenty-four month period immediately preceding the date an application is filed by the applicant, and having a comparable fishing capacity of the replacement vessel, respectively.

1964-Pub. L. 88-498 required the Secretary to determine that the vessel will be of advance design, which will enable it to operate in expanded areas, and be equipped with newly developed gear, and will not operate in a fishery, if such operation would cause economic hardship to efficient vessel operators already operating in that fishery.

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1408 of this title.

§ 1403. Approval of application; contract for payment of subsidy.

If the Secretary, in the exercise of his discretion, after notice and opportunity for a public hearing, determines that the granting of a subsidy applied for is reasonably calculated to carry out the purposes of this chapter, he may approve such application and enter into a contract or contracts with the applicant which will provide for payment by the United States of a construction subsidy in accordance with the purposes and provisions of this chapter and in accordance with any other conditions or limitations which may be prescribed by the Secretary. (Pub. L. 86-516, § 3, June 12, 1960, 74 Stat. 212; Pub. L. 88498, § 2(3), Aug. 30, 1964, 78 Stat. 614; Pub. L. 91279, § 2, June 12, 1970, 84 Stat. 307.)

AMENDMENTS

1970-Pub. L. 91-279 substituted "notice and opportunity for a public hearing" for "notice and hearing". 1964-Pub. L. 88-498 inserted words "after notice and hearing" preceding "determines."

SECTION REFERRED TO IN OTHER SECTIONS This section is referred to in sections 1405, 1408 of this title.

§ 1404. Repealed. Pub. L. 88-498, § 2(4), Aug. 30, 1964, 78 Stat. 614.

Section, Pub. L. 86-516, § 4, June 12, 1960, 74 Stat. 212, related to the operation of fishing vessels in fisheries suffering injury.

§ 1405. Cost determination and limitation.

(a) Within sixty days after the date of enactment of this subsection, and from time to time thereafter, the Martime1 Administrator shall survey foreign shipyards to determine the estimated difference between the cost of constructing various classes of new fishing vessels engaged in the fisheries of the United States in such shipyards, and the cost of remodeling various classes of vessels in such shipyards, and the cost of constructing or remodeling such vessels in a shipyard of the United States.

(b) The Secretary may pay, from funds appropriated under this chapter for fiscal year 1970 and subsequent fiscal years with respect to any new fishing vessel for which an application is received in such years and approved under section 1403 of this title, a construction subsidy of not less than 35 per centum and not more than 50 per centum of the lowest responsible bid for the construction of such vessel in a shipyard of the United States, as determined and certified to the Secretary by the Maritime Administrator, excluding the costs, if any, of any feature incorporated in the vessel for national defense uses which costs shall be paid by the Department of Defense in addition to such subsidy. The amount of such subsidy for each such vessel shall be determined and certified to the Secretary by the Maritime Administrator based on the periodic survey conducted under subsection (a) of this section.

(c) The Secretary may pay, from funds appropriated under this chapter for fiscal year 1970 and subsequent fiscal years with respect to any vessel for which an application is received in such years and approved under section 1403 of this title for the remodeling of any vessel, a construction subsidy of not more than 35 per centum of the lowest responsible bid for the remodeling of such vessel as a fishing vessel in a shipyard of the United States, as determined and certified to the Secretary by the Maritime Administrator, excluding the costs, if any, of any feature incorporated in the vessel for national defense uses which costs shall be paid by the Department of Defense in addition to such subsidy. The amount of such subsidy of each such vessel shall be determined and certified to the Secretary by the Maritime Administrator based on the periodic survey conducted under subsection (a) of this section. (Pub. L. 86-516, 5, June 12, 1960, 74 Stat. 213; Pub. L. 88-498, § 2(5), Aug. 30, 1964, 78 Stat. 614; Pub. L. 91-279, § 3, June 12, 1970, 84 Stat. 307.)

REFERENCES IN TEXT

Date of enactment of this subsection, referred to in subsec. (a), is June 12, 1970, date of enactment of Pub. L. 91-279 which amended this section.

1 So in original. The term should read “Maritime".

AMENDMENTS

1970-Pub. L. 91-279, in rewriting existing paragraph, enacted provisions designated as subsec. (a) and providing for survey of foreign shipyards to determine estimated difference between construction and remodeling costs in foreign as compared with United States shipyards; incorporated in provisions designated as subsec. (b) provisions of existing paragraph for a construction subsidy for construction of fishing vessels with Defense Department payments for features for national defense uses, prescribed minimum construction subsidy payment of 35 per centum of lowest responsible bid for construction of such vessel in a United States shipyard, and provided for payment from appropriated funds and for determination of amount of subsidy on basis of the periodic survey; and enacted provisions designated as subsec. (c) for a construction subsidy for remodeling of fishing vessels, making applicable provisions of existing paragraph for Defense Department payments for features for national defense

uses.

1964-Pub. L. 88-498 substituted "50 per cent" for "33 per centum."

SECTION REFERRED TO IN OTHER SECTIONS

This section is referred to in section 1407 of this title. § 1406. Supervision of construction; submission of plans to Secretary of Defense.

Any fishing vessel for which a construction subsidy is paid under this chapter shall be constructed under the supervision of the Maritime Administrator. The Maritime Administrator shall submit the plans and specifications for the proposed vessel to the Department of Defense for examination thereof and suggestions for such changes therein as may be deemed necessary or proper in order that such vessel shall be suitable for economical and speedy conversion into a naval or military auxiliary or otherwise suitable for the use of the United States Government in time of war or national emergency. If the Secretary of Defense approves such plans and specifications as submitted, or as modified, in accordance with the provisions of this subsection, he shall certify such approval to the Administrator. No construction subsidy shall be paid by the Secretary under this chapter unless all contracts between the applicant for such subsidy and the shipbuilder who is to construct such vessel contain such provisions with respect to the construction of the vessel as the Maritime Administrator determines necessary to protect the interests of the United States. (Pub. L. 86-516, § 6, June 12, 1960, 74 Stat. 213.)

§ 1407. Conditions of construction.

All construction with respect to which a construction subsidy is granted under this chapter shall be performed in a shipyard in the United States as a result of competitive bidding, after due advertising, with the rights reserved in the applicant, and in the Maritime Administrator, to disapprove any or all bids. Beginning on the date of enactment of this sentence, if the applicant disapproves the lowest responsible domestic bid certified by the Maritime Administrator for convenience or other reasons, the Secretary may permit the applicant to accept another responsible domestic bid and agree to pay a construction subsidy under subsection (b) or (c) of section 1405 of this title which shall not exceed the amount the Secretary would have paid if the applicant had accepted the lowest responsible domestic bid. In all such construction the shipbuilder, subcontractor, material men, and suppliers shall use, so

far as practicable, only articles, materials, and supplies of the growth, production, and manufacture of the United States as defined in section 1401 (k) of Title 19. No shipbuilder shall be deemed a responsible builder unless he possesses the experience, ability, financial resources, equipment, and other qualifications necessary properly to perform the proposed contract. The submitted bid shall be accompanied by all detailed estimates on which it is based, and the Maritime Administrator may require that the builder or any subcontractor submit any other pertinent data relating to such bids. (Pub. L. 86-516, §7; June 12, 1960, 74 Stat. 213; Pub. L. 91-279, § 4, June 12, 1970, 84 Stat. 308.)

REFERENCES IN TEXT

Date of enactment of this sentence, referred to in the text, is June 12, 1970, date of enactment of Pub. L. 91-279 which amended this section.

AMENDMENTS

1970-Pub. L. 91-279 inserted provision for applicant's acceptance of another responsible domestic bid (upon disapproval of lowest responsible domestic bid for convenience or other reasons) and agreement to pay a construction subsidy which shall not exceed the amount the Secretary would have paid if the applicant had accepted the lowest responsible domestic bid.

§ 1408. Acquisition of ownership by United States; payment for vessel; finality of determination. (a) Every contract executed by the Secretary pursuant to section 1403 of this title shall provide that in the event the United States shall, through purchase or requisition, acquire ownership of any fishing vessel on which a construction subsidy was paid, the owner shall be paid therefor the value thereof, but in no event shall such payment exceed the actual depreciated construction cost thereof (together with the actual depreciated cost of capital improvements thereon) less the depreciated amount of construction subsidy theretofore paid incident to the construction of such vessel, or the fair and reasonable scrap value of such vessel as determined by the Maritime Administrator, whichever is the greater. Such determination shall be final. In computing the depreciated value of such vessel, depreciation shall be computed on each vessel on the schedule accepted or adopted by the Internal Revenue Service for income tax purposes.

(b) The provisions of section 1402 of this title and subsection (a) of this section relating to the requisition or the acquisition of ownership by the United States shall run with the title of each fishing vessel and be binding on all owners thereof. L. 86-516, § 8, June 12, 1960, 74 Stat. 214.)

(Pub.

§ 1409. Transfer of vessels to other fisheries; vessels operated contrary to provisions of chapter; repay

ments.

The Secretary, in the exercise of his discretion, after notice and a public hearing, may approve the transfer of any vessel constructed with the aid of a subsidy to another fishery when, as determined by the Secretary, the operations of such vessel are shown to be uneconomical or less economical either because of an actual decline of the resource in the particular fishery or fisheries in which such vessel operates, or because of changed market conditions or a combination of these factors, and where he

determines that such transfer would not cause economic hardship to operators of efficient vessels already operating in the fishery to which the vessel would be transferred, or where he determines that such transfer would enable such vessel to operate in a newly developed fishery not yet utilized to its capacity by operators of efficient vessels. If any fishing vessel constructed with the aid of a construction subsidy in accordance with the provisions of this chapter, is operated during its useful life, as determined by the Secretary, contrary to the provisions of this chapter or any regulations issued thereunder, the owner of such vessel shall repay to the Secretary, in accordance with such terms and conditions as the Secretary shall prescribe an amount not to exceed the total depreciated construction subsidy paid by the Secretary pursuant to this chapter and this shall constitute a maritime lien against such vessel. The obligations under this section shall run with the title to the vessel. (Pub. L. 86-516, § 9, June 12, 1960, 74 Stat. 214; Pub. L. 88-498, § 2(6), Aug. 30, 1964, 78 Stat. 614; Pub. L. 91-279, § 5, June 12, 1970, 84 Stat. 308.)

AMENDMENTS

1970-Pub. L. 91-279, in amending first sentence, provide for "public" hearing and for transfer of vessels because of actual decline of the resource in the particular fishery or fisheries in which vessel operates rather than actual decline in the particular fishery for which vessel was designed, because of changed market conditions or combination of stated factors, and where Secretary determines that the transfer would enable the vessel to operate in a newly developed fishery not yet utilized to its capacity by operators of efficient vessels.

1964 Pub. L. 88-498 authorized the Secretary to approve the transfer of a vessel constructed with the aid of a construction subsidy, whose operations have become uneconomical or less economical because of an actual decline in the particular fishery for which it was designed, to another fishery where he determines that such transfer would not cause economic hardship or injury to efficient vessel operators already operating in that fishery, substituted provisions requiring repayment, if any fishing vessel constructed with the aid of a subsidy is operated during its useful life contrary to the provisions of this chapter or regulations, of an amount not more than the total depreciated construction subsidy, for provisions which required repayment, if any fishing vessel was operating in any fishery other than the particular fishery for which it was designed, of an amount which bears the same proportion to the total construction subsidy paid with respect to such vessel as the proportion that the number of years during which such vessel was not operated in the fishery for which it was designed bears to the total useful life of such vessel, and inserted provisions making such repayment a maritime lien against the vessel.

§ 1410. Rules and regulations.

The Secretary shall make such rules and regulations as may be necessary to carry out the purposes of this chapter. (Pub. L. 86-516, § 10, June 12, 1960, 74 Stat. 214.)

§ 1411. Definitions.

As used in this chapter the terms

(1) "Secretary" means the Secretary of the Interior,

(2) "fishing vessel" means any vessel designed to be used in catching fish, processing or transporting fish loaded on the high seas, or any vessel outfitted for such activity,

(3) "citizen of the United States" includes a

corporation, partnership, or association if it is a citizen of the United States within the meaning of section 802 of this title, and the amount of interest required to be owned by a citizen of the United States shall be at least 75 per centum.

(4) "construction" includes designing, inspecting, outfitting, and equipping,

(5) "remodeling" includes the construction through the conversion or reconditioning of any vessel to a fishing vessel and through the rebuilding of any existing fishing vessel, and

(6) "Maritime Administrator" means the Maritime Administrator in the Department of Com

merce.

(Pub. L. 86–516, § 11, June 12, 1960, 74 Stat. 214; Pub. L. 91-279, § 6, June 12, 1970, 84 Stat. 308.)

AMENDMENTS

1970-Par. (3). Pub. L. 91-279, § 6(a), included in definition of "citizen of the United States" provision that the amount of interest required to be owned by a citizen shall be at least 75 per centum.

Par. (5). Pub. L. 91-279, § 6(b), added par. (5). Former par. (5) redesignated (6).

Par. (6). Pub. L. 91-279, § 6(b), redesignated former par (5) as (6).

§ 1412. Authorization of appropriations.

There is authorized to be appropriated for the

fiscal years 1970, 1971, and 1972, $20,000,000 per fiscal year to carry out this chapter. Such sums are authorized without fiscal year limitation. (Pub. L. 86-516, § 12, June 12, 1960, 74 Stat. 214; Pub. L. 88-498, § 2(7), Aug. 30, 1964, 78 Stat. 614; Pub. L. 91-279, § 7, June 12, 1970, 84 Stat. 308.)

AMENDMENTS

1970-Pub. L. 91-279 substituted appropriations authorization of $20,000,000 per fiscal year for fiscal years 1970, 1971, and 1972, for prior authorization of not more than $10,000,000 annually and authorized such sums without fiscal year limitation.

1964 Pub. L. 88-498 substituted "$10,000,000" for "$2,500,000."

§ 1413. Termination date.

No application for a subsidy for the construction of a fishing vessel may be accepted by the Secretary after June 30, 1972. (Pub. L. 86-516, § 13, June 12, 1960, 74 Stat. 214; Pub. L. 88-498, § 2(8), Aug. 30, 1964, 78 Stat. 614. Pub. L. 91-279, § 8, June 12, 1970, 84 Stat. 309.)

AMENDMENTS

1970-Pub. L. 91-279 substituted "1972" for "1969". 1964-Pub. L. 88-498 substituted "may be accepted by the Secretary after June 30, 1969" for "may be accepted by the Secretary after the day which is three years after June 12, 1960."

SUBCHAPTER REFERRED TO IN OTHER SECTIONS This subchapter is referred to in sections 1160, 1161 of this title; title 26 section 49.

§ 1271. Definitions.

As used in this subchapter

(a) The term "mortgage" includes a preferred mortgage as defined in the Ship Mortgage Act, 1920, as amended, on any vessel of the United States (other than a towboat, barge, scow, lighter, car float, canal boat, or tank vessel, of less than two hundred gross tons), and a mortgage on such a vessel which will become a preferred mortgage when recorded and endorsed as required by the Ship Mortgage Act, 1920, as amended;

(b) The term "loan" includes any loan or advance of credit other than a mortgage loan;

(c) The term "vessel" includes all types of passenger, cargo, and combination passenger-cargo carrying vessels, tankers, tugs, towboats, barges, and dredges documented under the laws of the United States, fishing vessels, floating drydocks which have a capacity of thirty-five thousand or more lifting tons and a beam of one hundred and twenty-five feet or more between the wing walls, and oceanographic research or instruction vessels owned by citizens of the United States;

(d) The term "mortgagee" includes the original maker of a loan secured by a mortgage and his successors and assigns, except that in the case of a mortgage involving a trust indenture and an issue of bonds or notes thereunder, it means the trustee designated in such trust indenture and his successors and assigns as trustee, but does not include

the holders of the bonds or notes issued under such trust indenture; and the term "lender" includes the original maker of any loan or advance of credit other than a loan secured by a mortgage, and his successors and assigns, except that in the case of a loan or advance of credit involving a trust indenture and an issue of bonds or notes thereunder, it means the trustee designated in such trust indenture and his successors and assigns as trustee, but does not include the holders of the bonds or notes issued under such trust indenture;

(e) The term "mortgagor" includes the original borrower under a mortgage and his successors and assigns approved by the Secretary of Commerce; and

(f) The term "actual cost" of a vessel as of any specified date means the aggregate as determined by the Secretary of Commerce of (i) all amounts paid by or for the account of the mortgagor or borrower on or before that date, and (ii) all amounts which the mortgagor or borrower is then obligated to pay from time to time thereafter, for the construction, reconstruction or reconditioning (including designing, inspecting, outfitting, and equipping) of such vessel: Provided, That in no event shall the Secretary of Commerce pay as insurance under this subchapter in respect of the unpaid balance of the principal of a mortgage or loan an amount in excess of 75 per centum, or 871⁄2 per centum, as the case may be, of the amount paid by or for the account of the mortgagor or borrower for the construction, reconstruction, or reconditioning (including designing, inspecting, outfitting, and equipping) of such vessel, except that if the mortgagor or borrower creates