How to do a hard reset on Moto G 2nd generation XT1068 Android mobile phone

The Motorola XT1068, or the Moto G 2nd generation (2014) as it is more commonly known, is a wonderful Android device that brought a lot of Google goodness - both in design and performance - in a very fairly priced Android phone for the masses.

And this phone has been seeing very fast OS update cycles - almost as quick as Google's own Nexus series. And for this reason, this phone has found quite a lot of love in the fan circles, which results is a lot of great user-generated documentation for all kinds of user scenarios.

I enjoyed the fruits of all that love while making use of this good phone. There was just this one case where I couldn't find how to get my device to do a hard reset in Recovery mode. I found many a good article which wrote a great lot on the topic, but somehow I couldn't find my way into the recovery mode on the device. At last, hidden beneath a lot of google search result pages, there was this comment on an XDA forum thread from a person who shared the same difficulty that I had, and the steps he mentioned worked quite beautifully down to the last step.

This was the comment:
A comment on an XDA Forum thread - http://forum.xda-developers.com/showpost.php?p=60498358&postcount=3

and here is a good video to accompany it:
This excellent video by EpicReviewsTech - https://www.youtube.com/watch?v=LoTAsuPey_E