Since it says "Do X to do Y" you have to perform the first action to get the second action. It is the cost of the ability and HAS to be performed before you get any effect.
That argument says, "If you can't do X you move on and do Y." But that's wrong, because X is a cost.
Look at
Gimli, Son of Gloin. If you can't exert him (do to exhaustion, perhaps) you can't go on and make him strength +2 by saying "I would exert him if I could, but I can't."
The confusion sort of comes because healing is a beneficial action while exerting isn't, in a way. But, in a pretty recent question (presented by Mr. Ironfoot, I think) you CANT heal a minion/companion with no wounds.
If it said "Do X and do Y" you would be able to do one even if you couldn't do the other.
Make sense?