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To expand slightly and summarize (and to avoid misunderstandings):
The first entry on the chronicle sheet depends on a certain condition being met; if that is not the case, simply cross off that entry.
There is no such condition on the second entry - everybody gets it. For the remaining items:
Each player, and the GM, gets a chronicle with all the items in the left column, and one item from the right column. The choice of which item to pick from the right column can be different for different players (including the GM), but the choice must be made at the time the chronicle is handed out.
Edit - left this off: And, like all chronicles, they merely grant access to items. If you want the items, you still have to purchase them.

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Yes.
Put in broad terms, the bonuses of GM credit never depend on the particular success or failure of the party during the instance of play. The GM has no dog in the fight. (Patrick posts amusing, light-hearted comments, but he has a habit of posting deliberately unhelpful "advice".)
For that matter, if the party get their butts kicked and leave the adventure before earning an experience point, the GM still gets full value on her GM-credit Chronicle.