Upon the completion of each section of the development as set forth in the approved general development plan, the developer shall notify the Mayor, 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 nonresidential structure, as set forth in the approved general development plan and pursuant to Section 15 of P.L. 1975, c. 217 (N.J.S.A. 52:27D-133), and otherwise complied with all requirements for development of each such section. Until the town receives such notification as to the completion of any section of development, the town may at any time, upon notice to the developer by certified mail, make inspections and take all steps in order to determine whether or not the terms of the approved plan are being complied with.