Can someone explain what the Urdr's effects mean?

When you set your life/fate to its respective value, what happens?

Title: Urdr
Card Type: Stranger

The Norn of the past will remain here for the rest of the game, reminding you of what you once were.
Lightbound Effect : Set your life to your life value.
Darkbound Effect : Set your fate to your fate value.
Then move to your starting space.

You take/loose life/fate so that you have as many as the number printed on your character* (ie your life life/fate value )
*+/- any modifiers that change your life/fate value

Ex: You have 5 life and 1 fate, your life value is 4 and your fate value is 3. You have one destiny that increases you fate value by 1.

Lightbound: Loose 1 life.

Darkbound: Gain 3 fate.

As an example, the Warrior has a starting life ("life value") of 5, and a starting fate ("fate value") of 1.

So let's say the Warrior right now has 3 life, 3 dark fate, and 2 light fate.

He's darkbound. So when he encounters the Urdr, he would go back to 1 fate - discard fate (you choose how many light and dark to discard) until you are down to 1.

If he were light bound, then when he would encounter the Urdr, he would bring his life back up to 5.