(3)Where the mortgagee has been in possession of the whole of the property mortgaged to him for an aggregate period of less than ten years, the mortgagor shall not be entitled to redeem the mortgage, unless he pays to the mortgagee-(i)the difference between the principal amount secured by the mortgage and an amount bearing to the principal amount the same proportion as the period during which the mortgagee has been in possession bears to ten years;(ii)where any interest on the principal amount secured by the mortgage or any portion thereof has been stipulated for, in addition to the usufruct from the property, the arrears of such interest as scaled down under section 8 read with section 12; and(iii)all other sums payable to the mortgagee by the mortgagor, in his capacity as such, together with the interest, if any, due thereon.
