Upon completion of each section of the development as set forth in the approved schedule of development of the General Development Plan, the developer shall notify the Administrative Officer, the City Clerk and the Secretary of the Planning Board, by certified mail, as evidence that the developer is fulfilling his obligations under the approved plan. For the purpose of this section, "completion" of any section of the development shall mean that the developer has acquired a certificate of occupancy for every residential unit or every non-residential structure, as set forth in the approved General Development Plan and pursuant to N.J.S.A. 52:27D-133. However, such notice, completion and/or satisfaction shall not operate to release a redeveloper from the terms and requirements of its redeveloper agreement with the development entity. If the City Clerk and/or the Secretary of the Planning Board, do not receive such notification at the completion of any section of the development, the City Clerk and/or the Secretary of the Planning Board shall notify the developer, by certified mail, in order to determine whether or not the terms of the approved plan are being complied with. Failure of the City Clerk and/or the Secretary of the Planning Board to notify the developer shall impose no liability upon the City of South Amboy, the Planning Board or any of their agents, servants or employees or act as a waiver of the City's rights or the rights of the redevelopment entity.