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My "special" patron, Mr. Tim Parrott, also found information
similar to what Jim Coombs submitted, but there's some more
I might add.  Tim found the information in a book called
BIDRAG TIL EN HISTORISK-TOPOGRAFISK BESKRIVELSE AF ISLAND
by Peter Erasmus Kristian Kalund, published in Copenhagen
in 1877 (yes, it's in Danish). Both places are in Iceland.
"Videyar Klaustri" = VIDEYJAR KLAUSTR, i.e., the cloister of
Videy (the d is crossed like a t), which is Anglicized as
"Vidhey." Torvald Gissursson bought the island of Vidhey
(located at 64 10 N / 21 52 W) in 1226 and erected an
Augustinian cloister "in the island's larger, southeastern
part...on a little hill just north of the church."
"Beitisto" or "Beitistdum" probably refers to the farm of
Beitistadir (Anglicized as Beitistadhir), located at
64 24 N / 21 52 W. I hope this helps!
Jane Carlson
Map Collection Assistant
University of Iowa