It shall and may be
lawful for any person entitled to or claiming under any mortgage of land
(being land within the definition contained in section 3) to make an entry or
bring an action or suit to recover such land at any time within 12 years next
after the last payment of any part of the principal money or interest secured
by such mortgage, although more than 12 years may have elapsed since the time
at which the right to make such entry or bring such action or suit shall have
first accrued, anything herein notwithstanding.