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If you trace that hose back to it's source, you will find that it is a drain hose that starts at the bottom of your fuel bowl on your carburetor. It has nothing to do with your noise.
Not sure what is causing it, but check to make sure your rear axle is aligned properly so that the front and rear sprockets are parallel and also check your chain tension. You shouldn't have more than about a 1/2 play in it at mid length. Hard to diagnose.
I am sure others will come on here and give you some other things to check.
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