Percentage ownership. The articles of incorporation, covenants, bylaws, model deeds, and other legal instruments shall ensure that control of the organization shall be transferred to the members based on a percentage of the dwelling units sold and/or occupied and shall clearly indicate that in the event such organization shall fail to maintain the common open space or common property in reasonable order and condition, the municipality may serve written notice upon such organization or upon the owners of the development setting forth the manner in which the organization has failed to maintain the common open space or common property in reasonable condition, and said notice shall include a demand that such deficiencies of maintenance be cured within 35 days thereof and shall state the date and place of a hearing thereon which shall be held within 15 days of the notice. At such hearing, the designated municipal body or officer, as the case may be, may modify the terms of the original notice as to deficiencies and may give a reasonable extension of time not to exceed 65 days within which they shall be cured. If the deficiencies set forth in the original notice or in the modification thereof shall not be cured within said 35 days or any permitted extension thereof, the municipality, in order to preserve the common open space and common property and maintain the same for a period of one year, may enter upon and maintain such land. Said entry and maintenance shall not vest in the public any rights to use the common open space and common property except when the same is voluntarily dedicated to the public by the owners. Before expiration of said year, the municipality shall, upon its initiative or upon the request of the organization theretofore responsible for the maintenance of the common open space and common property, call a public hearing upon 15 days' written notice to such organization and to the owners of the development by the municipality, at which hearing such organization and the owners of the development shall show cause why such maintenance by the municipality shall not at the election of the municipality, continue for a succeeding year. If the municipality shall determine that such organization is ready and able to maintain said open space and property in reasonable condition, the municipality shall cease to maintain said open space and property at the end of said year. If the municipality shall determine such organization is not ready and able to maintain said open space and property in a reasonable condition, the municipality may, in its discretion, continue to maintain said open space and property during the next succeeding year, subject to a similar hearing and determination in each year thereafter. The decision of the municipality in any such case shall constitute a final administrative decision subject to judicial review.