“Object reference not set to an instance of an object” when opening an OSM export in ESRI Arcmap

Hi, I am trying to export a suburb street data from Open Street Map to open in ESRI Arcmap. I am using Arcmap 10.2.2 with the built in OSM system toolbox.

In street map I am selecting the area I want - going to the layers to load data - the roads go blue and then I export - I'm not sure if I'm doing this the right way - it makes an .osm file which I then try to load using the ArcMap load OSM tool but it gives me a little dialogue box in the corner (load osm file with a red cross): The error it says is the following:

Object reference not set to an instance of an object

I'm pretty new to Arcmap can anyone help?