Ok dont bother with the { and } just get the razor tool, cut out the section you want to use. Right click on the two sections you dont. and choose cut. Then choose the selection tool and either slide the section you kept, or right click in front of the timeline to the left and choose ripple delete. Goto export, then adobe media encoder. At the top under export settings is FORMAT: Choose mpeg1. Adjust it to the desired resolution and bitrate and hit ok.
