Létk við yðr, es ítran,
Ôleifr, hugat môlum
rétt, es ríkan hittak
Rǫgnvald, konungr, haldit.
Deildak môl ins milda,
malma vǫrðr, í gǫrðum
harða mǫrg; né heyrðak
heiðmanns tǫlur greiðri.
Létk haldit hugat rétt môlum við yðr, Ôleifr konungr, es [hittak] ítran, es hittak ríkan Rǫgnvald. Deildak harða mǫrg môl í gǫrðum ins milda, vǫrðr malma; né heyrðak greiðri tǫlur heiðmanns.
I kept conscientiously, precisely, to the arrangements with you, King Óláfr, when [I met with] the excellent, when I met with the powerful Rǫgnvaldr. I dealt with very many arrangements in the courts of the generous one, guardian of metal weapons [WARRIOR = Óláfr]; I have not heard more loyal speeches of a tributary [Rǫgnvaldr].
 vǫrðr ‘guardian’: Some of the mss have gen. sg. vǫrðs. Kock in NN §629 prefers the vocative reading, but in §3031 he defends the gen. one (with vǫrðs qualified by ens/ins milda ‘of the generous’ in l. 5), while Bjarni Aðalbjarnarson (ÍF 27) regards it as implausible that Sigvatr should have formed the gen. of vǫrðr as anything but varðar. Jón Skaptason (1983, 98) adopts the poss. reading and has ens/ins milda malma vǫrðs ‘of the generous guardian of metals’ depend on mál/môl ‘arrangements’ in l. 5.
This view shows information about an instance of a word in a text.