If Corporation fails to acquire the land, owner may call upon Corporation to acquire it or to

If, within three years from the declaration aforesaid, the Corporation fails to acquire any land included in such declaration or any part of such land, the owner of such land may, by written notice setting out the particulars of such land, call upon the Corporation to acquire such land or to withdraw from the proposal to acquire it and thereafter the procedure prescribed in sub-sections (2) to (5) of section 274 shall be followed.