Template Based on Template unfixable error

So I was trying to make the theme I created apply to some of the templates I'm using by default. So I try going to Design>Page Templates. Here I find a list of all the page templates my site has available. I click the Actions button for the Left Sidebar, Content template and choose "Base Template" since I figure this mean, Base this template on something.

On the next screen I choose one of the Templates I uploaded that uses my new theme. Now I constantly get an error from the pages that use this Template. I cannot get in to edit the page and change the template because it gives me the same error. I also cannot seem to choose to remove the "Based On" value now attributed to the template. So basically my pages are broken as is this default template.

Am I missing something that I should do to fix this? Also If this is something that will result in an error like this, why am I given the choice to base my template off of another template? This feature of basing a template off of something doesn't seem very clear as is.

Hi Chris,

Thank you for using our services.

Could you please let us know what is the error you are getting while trying to edit the page? This will help us determine what is the problem exactly and see what can be done to fix it.

All the best,
Radoslav Georgiev
the Telerik team