(1) A financing statement or continuation statement filed prior to January 1, 1989, which shall not have lapsed prior to January 1, 1989, shall remain effective for the period provided in chapter 400, as it reads prior to January 1, 1989, but not less than five years after the filing.

(2) With respect to any collateral acquired by the debtor subsequent to January 1, 1989, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under chapter 400, as it reads after January 1, 1989.

(3) The effectiveness of any financing statement or continuation statement filed prior to January 1, 1989, may be continued by a continuation statement as permitted by section 400.9-403(4), except that where this chapter requires a filing in an office where there was no previous financing statement, a new financing statement conforming to section 400.11-106 shall be filed in that office.

(4) If the record of a mortgage of real estate would have been effective as a fixture filing of goods described therein if such mortgage had been recorded on January 1, 1989, the mortgage shall be deemed effective as a fixture filing as to such goods under subsection (6) of section 400.9-402 on January 1, 1989.