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City, in compliance with I11. Rev. Stat. 1989 , Ch. 24, para. <br /> 7-1-8, said petition to describe the Premises and to request that <br /> the same be annexed to and included within the corporate limits <br /> of the City. <br /> 2. The City hereby waives any requirement otherwise <br /> applicable that the Bank pay to the City any fee for filing the <br /> petition referred to in paragraph 1 hereof. <br /> 3. Upon receipt of said annexation petition, the City shall <br /> annex the Premises to the City as provided by law. <br /> 4 . Upon annexation of the Premises to the City, the City <br /> shall zone said Premises R-3 Single Family Residence District, as <br /> provided by law and by Ordinance No. 3512, as amended ("the <br /> Zoning Ordinance") . <br /> 5. The Bank, or its successors or assigns, shall, within 60 <br /> days of the execution of this Agreement, convey to the City, by <br /> Warranty Deed, the following described real property: <br /> The South 30 feet of the Southwest 1/4 of the southwest <br /> 1/4, Section 22, Township 17, Range 2 East of the 3rd <br /> P.M. except the -West 399.03 feet thereof. <br /> 6. The City shall install a sewer main, to City standards <br /> as determined by the Department of Public Works, in Arbor Drive <br /> adjacent to the Premises. Such installation shall be completed <br /> prior to September 1, 1991. <br /> 7. At such time as a building permit is issued for the <br /> Premises, as provided by Chapter 67 of the City Code, then the <br /> Bank, or the then-owner of the Premises if not the Bank, shall <br /> pay to the City, as reimbursement for the construction of said <br /> main, and as reimbursement for the construction of the water main <br />