Notwithstanding anything to the contrary contained herein, the city may, at its option or discretion, waive, suspend and/or place in abeyance the requirements of sections 1-11-3, 1-11-4, 1-11-5 and/or 1-11-6 of this chapter. A request for such waiver or suspension must be submitted by the owner(s) of the property included in the petition for annexation. In order for such a waiver or suspension of the aforesaid to be granted, the requesting property owner(s) must specifically covenant and agree, pursuant to a recordable written document, to comply with sections 1-11-3, 1-11-4, 1-11-5 and/or 1-11-6 of this chapter, subsequent to annexation, at the written request of the city, and must additionally covenant and agree therein to waive any right to protest or object to the city's written request. The purpose of this section is not to eliminate the requirements and/or prerequisites set forth above, but to suspend them to a date subsequent to annexation. (1975 Code § 2.60.070)