98. (1) Any person liable to the payment of a betterment fee may, at his option, instead of making a payment thereof to the Kartripakkha to leave the said payment outstanding as a charge on his interest in the land, subject to the payment in perpetuity of interest at the rate of ¹[ten] per cent per annum, the first annual payment of such interests to be made one year from the date referred to in section 97. (2) Every payment due from any person in respect of a betterment fee and every charge referred to in sub-section (1) shall, notwithstanding anything contained in any other enactment and notwithstanding the existence of any mortgage or other charge, whether legal or equitable, be the first charge upon the interest of such person in such land. (3) [Omitted by section 27 of the Town Improvement (Amendment) Act, 1987 (Act No. XXIX of 1987).]