The public agency for whose benefit an area has been reserved shall, at the time of the approval of the final map or parcel map, enter into a binding agree-ment to acquire such reserved area within two years after the completion and acceptance of all improve-ments, unless such period of time is extended by mutual agreement.
('66 Code, § 9-4.1603) (Ord. 275-C-S, passed 3-11-75)