Currently we are OFF the clock, so the times are not hard deadlines for the time being.
Once we are ON the clock (amerk and/or kelly will tell us when that is), you can draft as soon as you are next in line, and as soon as that happens, the next person can pick, which would be you since you are at the turn. The end of your exclusive time slot is your deadline to finish making your pick, but never precludes you from making your pick as long as the person before you has already picked.
If someone misses their time slot, the next person can jump in, and the draft continues. The person who ran out of time can make their pick at any point after that.
As someone who has picked at the turn before, it's recommended (and will make the league happy) to make both your picks the night before, that way we can get a few picks in at the end of the day. This isn't a requirement, just what everyone typically does who picks 1 or 24.