Within 62 days of the Planning Board's determination of a complete application for preliminary site plan approval, or, if a public hearing is held, within 62 days of the adjournment of the hearing, the Planning Board shall act on the request. If no decision is made within said time frame, the preliminary site plan shall be considered approved and the applicant so notified. The Planning Board's action shall be in the form of a written statement to the applicant stating whether or not the preliminary site plan is approved, disapproved, approved with modifications or approved by default.