Within 180 days after the court remands the agreement under ORS 539.340, the Water Resources Director shall file with the court:
(1) An amended agreement complying with ORS 539.320, which shall be subject to the procedure specified by ORS 539.330;
(2) A motion to dismiss the proceedings, which shall be granted by the court; or
(3) A stipulated motion for a continuance for a period not to exceed 180 days, within which period the parties shall submit to the court an amended agreement, a motion to dismiss or a motion for further continuance.