Illinois Code § 65 ILCS 5/11-15.1-4

Any annexation agreement executed pursuant to this Division
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15.1, or in conformity with Section 11-15.1-5 hereof, shall be binding upon the
successor owners of record of the land which is the subject of the agreement
and upon successor municipal authorities of the municipality and successor
municipalities. Any party to such agreement may by civil action, mandamus,
injunction or other proceeding, enforce and compel performance of the
agreement.

 
A lawsuit to enforce and compel performance of the agreement must be filed
within the effective term of the agreement or within 5 years from the date the
cause of action accrued, whichever time is later.

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