Preliminary plat approval shall confer the following rights and privileges upon the subdivider.
   (A)   The preliminary plat will remain in effect for a one-year period from the day the Village Board approves the same. The applicant may, during this period, submit all or part or parts of said preliminary plat for final approval. In the event that the subdivision is being developed in stages, the applicant may, by written mutual agreement with the Village Board, have final approval of the last part of the plat delayed for a period not to exceed five years from the date of the preliminary plat approval. Any part of a subdivision which is being developed in stages shall contain a tract of land at least one block in area or five gross acres.
   (B)   The general terms and conditions under which the preliminary plat approval was granted will not be changed for final approval.
   (C)   The applicant may also proceed with any detailed improvement plans required for all facilities or utilities intended to be provided. Actual construction of such facilities and improvements may commence prior to final plat approval if the detailed improvement plans have been recommended by the Village Engineer and approved by the Village Board, provided that such facilities and improvements will be inspected throughout their construction, and final plat approval will be contingent in part upon acceptable compliance to village improvement and facilities standards. If the applicant does not submit the improvement plans prior to the submission of the final plat, then he or she shall submit the improvement plans to the Village Clerk’s office at the time that the final plat is submitted.
(1999 Code, § 34-3-6)