Síðan var stofnað til boðs á Höskuldsstöðum og ekki til sparað en ærin voru efni.
Then was established (the) wedding-feast at Hoskuldstad and (was) not spared (anything) but sufficient was material (am assuming this means food and drink).
Boðsmenn koma að ákveðinni stefnu.
Wedding-guests came at appointed the-appointed time.
Voru þeir Borgfirðingar allfjölmennir.
They, the Borgfirdingers were in-great-numbers.
Var þar Egill og Þorsteinn son hans.
Egill was there and his son Thorstein.
Þar var og brúður í för og valið lið úr héraðinu.
(the) bride also travelled there and chosen folk out-of the district. (not an exact match, but I found Z. í 7 - vera í för með e-m, to travel in one's company)
Höskuldur hafði og fjölmennt fyrir.
Hoskuld also had many-people present. (Z fyrir III 3 - 3 at hand, present)
Veisla var allsköruleg.
(The) banquet was magnificent.
Voru menn með gjöfum á brott leiddir.
Men were with gifts away led.
Þá gaf Ólafur Egli sverðið Mýrkjartansnaut og varð Egill allléttbrúnn við gjöfina.
Then Olaf gave Egill the Myrkjartan's-gift sword and Egill was of-very-cheerful-countenance with the gift.
Allt var þar tíðindalaust og fara menn heim.
All was without-incident there, and people go home.
Hjardarholt cut-open
Þau Ólafur og Þorgerður voru á Höskuldsstöðum og takast þar ástir miklar.
They, Olaf and Thorgerd were at Hoskuldstad and they came to love each other very much there.
Auðsætt var það öllum mönnum að hún var skörungur mikill en fáskiptin hversdaglega.
It was clear to all men that she was very notable and generally little-meddling.
En það varð fram að koma er Þorgerður vildi til hvers sem hún hlutaðist.
And that was to come forth which Thorgerd would as she meddled to with it. (Z. hluta 2 - hlutast til e-s, to meddle with a thing)
Ólafur og Þorgerður voru ýmist þann vetur á Höskuldsstöðum eða með fóstra hans.
Olaf and Thorgerd were by-turns that winter at Hoskuldstad or with his foster-(father).
Um vorið tók Ólafur við búi á Goddastöðum.
During the spring, Olaf received lodging at Goddastad.
Það sumar tók Þórður goddi sótt þá er hann leiddi til bana.
That summer Thord Godd took ill, then which led him to death.
Ólafur lét verpa haug eftir hann í nesi því er gengur fram í Laxá er Drafnarnes heitir.
Olaf caused to raise a mound over him in (the) ness therefore which goes from Lax River, which is named Drafnarness.
Þar er garður hjá og heitir Haugsgarður.
There is a fence near and it is named Haugs-fence.
Síðan drífa menn að Ólafi og gerðist hann höfðingi mikill.
Then people throng to Olaf and he became a great chief.
Höskuldur öfundaði það ekki því að hann vildi jafnan að Ólafur væri að kvaddur öllum stórmálum.
Hoskuld didn't bear a grudge against it because he equally wanted that Olaf be to summon all great suits.
Þar var bú risulegast í Laxárdal er Ólafur átti.
There was the most stately farm in Salmon-river-dale, which Olaf owned.
Þeir voru bræður tveir með Ólafi er hvortveggi hét Án.
There were two brothers with Olaf who both were named An.
Var annar kallaður Án hinn hvíti en annar Án svarti.
One was called An the white and the other An the black.
Beinir hinn sterki var hinn þriðji.
Beinir the strong was the third.
Þessir voru sveinar Ólafs og allir hraustir menn.
These were Olaf's servants and all strong men.
Þorgerður og Ólafur áttu dóttur er Þuríður hét.
Thorgerd and Olaf had a daughter who was named Thurid.
Lendur þær er Hrappur hafði átt lágu í auðn sem fyrr var ritað.
Those lands which Hraup had owned lay in waste as previously was written.
Ólafi þóttu þær vel liggja, ræddi fyrir föður sínum eitt sinn að þeir mundu gera menn á fund Trefils með þeim erindum að Ólafur vill kaupa að honum löndin á Hrappsstöðum og aðrar eignir þær er þar fylgja.
It seemed to Olaf they were well situated, discussed before his fathers (as this is the plural, does it mean his parents?) one time that they should send men to meet Trefil with the message that Olaf will buy (from) him the lands at Hrappstad and other properties, they which accompanied (them) there.
Það var auðsótt og var þessu kaupi slungið því að Trefill sá það að honum var betri ein kráka í hendi en tvær í skógi.
That was easy-to-win and this bargain was struck because Trefill saw that to him was better one crow in hand than two in (the) forest. (Z. slyngva - var þessu kaupi slungit, this bargain was struck)
Var það að kaupi með þeim að Ólafur skyldi reiða þrjár merkur silfurs fyrir löndin en það var þó ekki jafnaðarkaup því að það voru víðar lendur og fagrar og mjög gagnauðgar.
That was (as) to (the) agreement with them that Olaf should pay three marks of silver for the land and that was nevertheless not an equal-bargain because it was extensive land and beautiful and very very-productive.
Miklar laxveiðar og selveiðar fylgdu þar.
Much salmon-fishing and seal-hunting pertained-to there.
Voru þar og skógar miklir nokkuru ofar en Höskuldsstaðir eru fyrir norðan Laxá.
There were also much forest some higher up than Hoskuldstad were further north (of) Salmon-river.
Þar var höggvið rjóður í skóginum og þar var nálega til gers að ganga að þar safnaðist saman fé Ólafs hvort sem veður voru betri eða verri.
There was cut-down a clearing in the woods and there was nigh to (gers?) to go to there a gathering together (of) Olaf's livestock whether (the) weather was better or worse.