Simple Way to Delete Unwanted Portions of a Clip:

To simply remove unnecessary portions of your video, you can use selection sliders. Add the clip to the Timeline, go to the View menu and check the Selection Sliders option. Now position the sliders to include the portion you want to remove i.e. the first selection slider placed at 5 minutes and the other at 26 minutes on the Timeline. The sliders can be positioned by referring to the Selection Start and Selection End time displayed at the bottom of the Timeline. Right-click on the selected portion and click on Delete.

Alternate Way to Identify the Unwanted Portions:

If you want to separate out portions before removing them, you can create clips by using the Split Track feature in Video Edit Magic. Place the seek slider at the position you want to remove (5 minutes in this case) by referring to the Slider time displayed at the bottom of the Timeline. Go to the Tools menu and click Split Track. Click on the track at the position where the seek slider is. A split is created. Now repeat this operation and create a split at 26 minutes. What you now have is a clip runs from 5 minutes to 26 minutes. You can move it to some other position, delete it or perform any other operation you want with this clip. Do this for all portions you want to separate out for deleting.

Please read the article: Editing Techniques to Remove Unnecessary Footage