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\ . ' - . <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 Corporation pay to the City any fee for <br /> filing the 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 M-1 Light Industrial District, as <br /> provided by law and by Ordinance No. 3512, as amended ( "the <br /> Zoning Ordinance") . <br /> 5 . During the term of this Agreement, and subject to <br /> paragraph 6 hereof, the City shall pay to the Corporation, <br /> annually, an amount equal to the real property tax levied by the <br /> City for which the Corporation, as the owner of the Premises, is <br /> liable during that year. Such payment shall be made by the City <br /> upon presentment to the Finance Department of a copy of the tax <br /> bill for said Premises as prepared by the Macon County Treasurer, <br /> and shall be made in one (1) installment. It is the purpose of <br /> this payment, and the intent of the parties hereto, to abate that <br /> portion of real property tax caused by the annexation of the <br /> Premises. <br /> 6 . If the legal title to the Premises, or any portion of <br /> same, is transferred from the Corporation, whether by purchase, <br /> gift, assignment, or otherwise, or if said Premises are <br /> subdivided as defined in Ord. No. 80-56 of the City ( "the <br /> Subdivision Ordinance") , then the liability of the City for <br />