Article 4 Land situated in more than one area

Where in respect of any mortgage to which article 2 applies the mortgaged land is situated in the area of more than one relevant council the rights and liabilities in respect of the mortgage shall vest in those councils jointly on such terms as may be agreed between those councils or, failing such agreement, determined by a person so agreed on, or appointed in default of agreement by the Secretary of State; and the sum payable by virtue of article 2(3) shall be recoverable by the London Residuary Body from those councils jointly or severally.