89When section 88 takes effect

89 When section 88 takes effect The last preceding section shall take effect without prejudice to any prior incumbrance or trust affecting the nominal reversion and shall apply whether the mortgage deed was or is executed before or after the date aforesaid, but shall not apply where the mortgage term does not comprise the whole of the land included in the leasehold reversion unless the rent (if any) payable in respect of that reversion has been apportioned as respects the land conveyed or the rent is of no money value or no rent is reserved and unless the covenants (if any) entered into for the benefit of the reversion have been apportioned (either expressly or by implication) as respects the land conveyed; and in the said section ***mortgagee*** shall include any person entitled to exercise the statutory or other power of sale. No. 3754 s. 90.