That message tells you where the conflicts exist after you tried to merge two versions of a file, when git couldn't figure it out itself how to properly merge the changes. Shortly, git couldn't merge the changes automatically, so it wrote markers at those places (where changes couldn't be automatically merged) for you to look at it and fix it manually.
You can read this article, to get a better understanding of that: http://genomewiki.ucsc.edu/index.php/Resolving_merge_conflicts_in_Git
For example, if you have a merge conflict and you ended up with something like this:
<<<<<<< HEAD:mergetest This is my third line ======= This is a fourth line I am adding >>>>>>> 4e2b407f501b68f8588aa645acafffa0224b9b78:mergetest
you will edit that text and make it look something like this:
This is a correct text now and it should have been here if the git could merge the files successfully.
So, you'll replace that entire block with a valid text, that should stay there (also removing those markers that start with "<<<<<<<", "=======" and ">>>>>>>").
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