Hey Matt:
So, you're making good progress. Connecting the phone will be easy. Basic telephone wiring primer: US modular phone plugs and jacks come in different wiring configurations. The two most common are RJ-11, which has two gold pins in the center, and RJ-14, which has four gold pins. The center two pins are for telephone line one, and the outer two pins are for line two. So, you'll find "silver satin" phone cords that have either two conductors or four, as seen by looking at the gold pins inside the plugs.
Most two-line analog telephones have two jacks: one labelled "L1+L2", and another labelled "L2". This is to enable the user to either plug in a four-conductor cord into the L1+L2 jack to connect both lines over one cord, or to connect the two lines individually; line one into the L1+2 jack and line two into the L2 jack. This is to accommodate premises that either have a RJ-14 wall jack with both pairs live, or two RJ-11 wall jacks, one for each line. Note that the phone's L2 jack actually uses the center two gold pins, since technically, it's a single line jack.
The OBi 202 is wired exactly the same way. Its first phone jack is wired as RJ-14, and then the outer two conductors of that jack are wired internally over to the center two pins of the other phone jack.
So, long story short: either use a 4-conductor cord between the two devices' L1+L2 jacks, or use two, two-conductor cords between two individual lines -- same result electrically.
The OBiTALK dashboard has a little table with check-mark boxes, to select which VoIP service provider slots (SP1 -- SP4) will be activated on which of the two phone jacks. In your case, just select GV1/SP1-->L1 and GV2/SP2-->L2.