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WHEREAS, the City agrees that said terms and <br /> conditions, as contained herein, are reasonable and <br /> acceptable; and, <br /> WHEREAS, hearings have been held and notice given <br /> as required by law. ' <br /> NOW, THEREFORE, for and in consideration of the <br /> mutual promises and obligations made and assumed <br /> herein, and pursuant to the authority of I11.Rev.Stat. <br /> 1989, ch. 24, par. 11-15. 1-1 et seq. , the City and Park <br /> District agree as follows: <br /> 1. At such time as said Premises are contiguous <br /> to the corporate limits of the City, Park District <br /> shall file an annexation petition with the City, in <br /> compliance with Ill.Rev.Stat. 1989, ch. 24, par. 7-1-8, <br /> said petition to describe the Premises and to request <br /> that the same be annexed to and included within the <br /> corporate limits of the City. <br /> 2 . The City hereby waives any requirement <br /> otherwise applicable that Park District pay to the �ity <br /> any fee for filing the petition referred to in <br /> paragraph 1. hereof. ', <br /> 3 . Upon receipt of said annexation petition, the <br /> City shall annex the Premises to the City as provided <br /> by law. <br /> 4. During the term of this agreement, neither <br /> Park District nor its successors or assigns shall <br />