The area for the parking facilities shall be adequate to provide the sum total of off-street parking space requirements of such joint uses.

In any case, where the required parking spaces are not located on the same lot with the building(s) or use(s) served, or where such spaces are collectively or jointly provided and used, such parking space shall be established by a recorded covenant or agreement as parking space to be used in conjunction with the principal use and shall be reserved as such through an encumbrance on the title of the property to be designated as required parking space, such encumbrance to be valid for the total period the use or uses for which the parking is needed are in existence. Such agreement or covenant shall be duly recorded in the Office of the County Registrar of Deeds.