The village and the owner of any shopping center located within the village may, by contract, authorize the village to regulate the parking of automobiles and the traffic at such shopping center pursuant to the authority granted by the state.
(A) No such contract shall exceed a period of 20 years. No lessee of the shopping center shall enter into such a contract for a longer period of time than the length of his or her lease.
(B) The contract, when entered into shall be recorded in the Office of the Recorder of Deeds and the regulations made pursuant to the contract shall only become effective three days after the contract is recorded.
(C) Thereafter, it shall be an offense for any person to do any act forbidden or fail to perform any act required by such parking or traffic regulation and a violation of the regulation shall be deemed a violation of this chapter.
(D) SHOPPING CENTER means premises having one or more stores or business establishments in connection with which there is provided on privately-owned property an area of land used by the public as the means of access to the egress from the stores and business establishments on such premises and for the parking of motor vehicles of customers and patrons of such stores and business establishments on such area.