I am using selenium tool for automation,

$sel->click_ok("submit");
$sel->wait_for_page_to_load_ok("30000");
$sel->text_is("tr4", "History");
$sel->is_text_present_ok("History");
WAIT: {
    for (1..60) {
        if (eval { $sel->is_element_present("el33") }) { pass; last WA
+IT }
        sleep(1);
    }
    fail("timeout");
}
[download]

I have to modify this. After submit button is Clicked, I have to check whether "el33" string is present within 2 minutes. If the string is present, I have to continue the further steps else I have to exit from the file itself. Please tell me how to do it