A resolution on the Board's action, reciting the reasons for approval or disapproval, shall be prepared. Failure of the Board to act within the period prescribed shall constitute minor subdivision or site plan approval and a certificate of the administrative officer as to the failure of the Planning Board to act shall be issued on request of the applicant; and it shall be sufficient in lieu of the written endorsement or other evidence of approval herein required and, in the case of minor subdivision, shall be so accepted by the county recording officer for purposes of filing subdivision plats or deeds.