In the event that the HOA established to own and maintain common property, or any successor organization, shall at any time after establishment of the planned development fail to maintain the common property in reasonable order and condition in accordance with the plan, the Village may serve written notice upon such organization or upon the residents and the owners of the planned development, setting forth the manner in which the organization has failed to maintain the common property in reasonable condition, and said notice shall include a demand that such deficiencies of maintenance be cured within 30 days thereof and shall state the date and place of a hearing thereon which shall be held within 14 days of the notice. At such hearing, the Village may modify the terms of the original notice as to the deficiencies and may give an extension of time within which they shall be cured. If the deficiencies set forth in the original notice or in the modifications thereof shall not be cured within said 30 days or any extension thereof, the Village, in order to preserve the taxable values of the properties within the planned development and to prevent the common property from becoming a public nuisance, may enter upon said common open space and maintain the same for a period of one year. Said entry and maintenance shall not vest in the public any rights to use the common open space except when the same is voluntarily dedicated to the public by the residents and owners and accepted by the Village Board after public hearing thereon. Before the expiration of said year, the municipality shall, upon its initiative or upon request of the organization theretofore responsible for the maintenance of the common property, call a public hearing upon notice to such organization or to the residents and owners of the planned development to be held by the Village, at which hearing such organization or the residents and owners of the planned development shall show cause why such maintenance by the Village shall not, at the election of the Village, continue for the succeeding year. If the Village shall determine that such organization is ready and able to maintain said common property in reasonable condition, it shall cease to maintain said common property at the end of said year. If the Village shall determine such organization is not ready and able to maintain said common property, it may continue to maintain said property for the next succeeding year, subject to a similar hearing and determination in each year thereafter.