Hmm...extends is normally used to describe a use case that adds further functionality to a base use case. Moreover it is also used to describe something that might be optional and/or occur only in certain circumstances.
Example:

In this case, "Order Food" is the base use case and "Order Wine" extends it with further functionality. Moreover "Order Wine" is somehow optional as not everyone will necessarily order it.
I've written a blog post about that, explaining the difference between the "include" and "extend" attributes of uml here:
http://blog.js-development.com/2009/03/uml-use-case-extend-and-include.html
In your situation however, you want to introduce a condition that a given usecase can only be executed when that condition is met. IMHO using extends in this situation is not 100% correct. Moreover, personally I wouldn't introduce such constraints at the level of uml use case diagrams. Maybee later when detailing the use case you can add pre-/and postconditions where you then specify that the update/delete action can only be done if an item exists.
If you insist in adding that information on the use case diagram directly because you think the viewers should have that information, you might add a simple note on that use case.
Hence, I would model it this way
