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All common open space, at the election of the village, shall be:
(A) Conveyed to a municipal or public corporation, or conveyed to a not-for-profit corporation or entity established for the purpose of benefiting the owners and residents of the planned unit development or adjoining property owners or any one or more of them. All lands conveyed under this chapter shall be subject to the right of the grantee or grantees to enforce maintenance and improvement of the common open space; or
(B) Guaranteed by a restrictive covenant describing the open space and its maintenance and improvement, running with the land for the benefit of residents of the planned unit development or adjoining property owners and/or both.
(Ord. 1999-2, Zoning § 22, subs. .340, passed 2-15-1999)