Any lot, tract or area created within such subdivision for park or recreational purposes, if acceptable to the Board of Supervisors, may be dedicated to the Township by a formal deed of dedication. If any such lot, tract or area is not so dedicated, provision for its conservation, maintenance and future use shall be made by deed restriction or agreement satisfactory to the Township Solicitor and recorded in the county office for the recording of deeds prior to the issuance of a building permit for the erection of any structure within the subdivision.