A corporation or trust owned or to be owned by the owners of lots or residential units within the development, articles of corporation or trust to be legally drawn up and available for review by Planning Board prior to final approval of the plan. If such a corporation or trust is utilized, ownership thereof shall pass with conveyances of the lots or residential units.
In any instance where Common Open Space is not conveyed to the Town, a restriction enforceable by the Town of Andover shall be recorded providing that such land shall be kept in an open or natural state and not be built upon or developed for accessory uses such as parking or roadway. All Common Open Space shall be restricted by deed from all future building. Before final approval of the special permit by the Planning Board, the developer shall state which of the three conveyance options above is being proposed, and the disposition, if approved, shall be recorded as a restriction on the development plan with the Northern Essex Registry of Deeds