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Interpretation of fare rules - need help

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I am considering my options regarding a multi-city international itinerary that may have to be cancelled. The cancellation would be for an uninsurable risk so I cannot seek compensation from travel insurance. The largest of the cancellation fees mentioned in any of the fare rules of any leg is $250 (some are $150), so given that the more restrictive rule applies to the whole itinerary, it's $250.

The fare (sub)rule I refer to (luckily I have the full rules, saved at the time of ticket issue) is the Cancellations/prior to 1st flight. It reads:
CANCELLATIONS ... B. EXCHANGE - CHANGE TO 1ST TICKETED FLIGHT / WHOLLY UNUSED TICKET
--
FULL VALUE OF A WHOLLY UNUSED TICKET MAY BE
APPLIED TOWARDS PURCHASE OF A NEW TICKET PRICED
AT -CURRENT- FARE LEVELS UPON PAYMENT OF THE
CHANGE FEE CONTAINED WITHIN THIS RULE AND ANY
DIFFERENCE IN FARE //RESIDUAL IF ANY RETURNED
IN THE FORM OF A NON-REFUNDABLE VOUCHER VALID
ON UNITED AIRLINES//AGENCY ISSUE MCO
--PROVIDED--
--ORIGINAL RESERVATIONS ARE CANCELED PRIOR TO
ORIGINALLY SCHEDULE FLIGHT --- AND ---
RESERVATIONS FOR NEW ITINERARY ARE MADE AND
TICKETS REISSUED NO LATER THAN 1 YEAR FROM
DATE OF ISSUE ON ORIGINAL PURCHASED TICKET.
So I understand I would have to cancel prior to the scheduled departure of the first flight, to retain any value at all.

My questions are:
1. I have to book a new itinerary (and have tickets issued) within 1 year from date of issue of the original ticket. But does travel have to be completed by that deadline? Or can I purchase the tickets with the voucher within the 1 year but travel sometimes afterwards (presumably up to 330 days from the date that is 1 year after the date of original issue; because that would be the booking window open by the latest date when I can re-book)?

2. Do I actually have to pay a change fee ($250) out of pocket to retain the full value of the ticket in the 1-year-from-original-issue-date voucher? Or can the change fee be deducted from the ticket value, leaving me with a voucher that is equal to Original Value minus Change Fee? A literal reading of the rule suggests the former (i.e. "upon payment of the change fee"), but my previous experience with other airlines would make me believe the latter.

I have not dealt with such issues with United before, so I am hoping either a TA-user or a United frequent flyer (though other-than-kettles are unlikely to have to worry about credit voucher expiry) may know how the rule is applied in practice.

If you need actual dates to make the problem less abstract, let me know. I felt the post is too long as it is... :eek:

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