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<br /> "SECTION 32.49. The tax imposed pursuant to this article <br />shall not apply with respect to any deed, instrument, or <br />writing to a beneficiary or mortgagee, which is taken from <br />the mortgagor or trustor as a result of or in lieu of fore- <br />closure; provided, that such tax shall apply to the extent <br />that the consideration exceeds the unpaid debt, including <br />accrued interest and cost of foreclosure. The consideration, <br />unpaid debt amount, and identification of the grantee as <br />beneficiary or mortgagee shall be noted on said deed, <br />instrument or writing or stated in an affidavit or declaration <br />under penalty of perjury for tax purposes. <br /> "SECTION 32.50. The County Recorder, County of San Mateo, <br />California, shall administer the provisions of this article <br />in conformity with the provisions of Part 6.7 of Division 2 <br />of the Revenue and Taxation Code of the State of California, <br />and the provisions of any ordinance of the County of San Mateo <br />adopted pursuant thereto. <br /> "SECTION 32.5l. Claims for refund of taxes imposed <br />pursuant to this article shall be governed by the provisions <br />of Chapter 5 (commencing with Section 5096) of Part 9 of <br />Division 1 of the Revenue and Taxation Code of the State of <br />California. <br />SECTION 4. This ordinance shall be effective 30 days after its <br />adoption; provided, however, that the provisions hereof shall become <br />operative upon and after July 1, 1978. <br />SECTION 5. The City Clerk is hereby authorized and directed to <br />file two copies of this ordinance with the County Recorder, County <br />of San Mateo, California upon the adoption hereof. <br /> * * * <br /> -5- <br /> .-.., <br />