Whenever a public park or recreation site proposed in the Village Comprehensive Plan, Comprehensive Outdoor Recreation Plan or Parks Plan, or Official Map is embraced, in whole or in part, in a tract of land to be divided, the proposed public park or recreation site shall be dedicated and credited toward the land dedication requirements of this Article. Where a public park or recreation site as shown on the Village Comprehensive Plan, Comprehensive Outdoor Recreation Plan or Parks Master Plan, or Official Map within the tract are greater in area than required under the dedication requirements of this Article, the Village Board may require that the Subdivider or Condominium Developer reserve for acquistion by the Village, through a development agreement, purchase, or condemnation, the remaining greater park area for a period of two (2) years of the Final Plan, Certified Survey Map, or Condominium plat approval unless extended by mutual agreement such reserved lands shall be kept in one (1) or more outlots to be held by the Subdivider or Condominium Developer. Over that period, the Village shall have the ability to negotiate the purchase of said land at undeveloped land prices. If the Village does not acquire the outlots set aside during the two (2) year period, this requirement shall lapse and the Village shall remove this requirement from any recorded documents.