The standards and requirements of this chapter may be modified
by the Planning Board in the case of a plan and program for a planned
unit development which in its judgment provides adequate public space
and improvements for the circulation, recreation, light, air and service
needs of the tract when fully developed and which also provides such
covenants or other legal provisions as will assure conformity with
and achievement of the plan.
In granting waivers or modifications, the Planning Board may
require such reasonable conditions as will in its judgment secure
substantially the objectives of the standards or requirements so waived
or modified.