This development plan shall be in general conformance with the approved preliminary development plan. Such approval shall be secured by the owner for each phase of the development. Such approval for each phase shall be valid for two years, at which time, unless the proposed development has been completed, the development plan approval shall terminate and no additional building permits shall be issued. If five or more lots, with separate deeds, are provided on the Planned Development District, the development plans shall be in such form as to be acceptable according to Chapter 195, Subdivision of Land, of the Code of the Town of Binghamton, as a final subdivision plat and may be approved in accordance with the procedures and requirements of Chapter 195, Subdivision of Land, of the Code of the Town of Binghamton.