This is a distich from Daniël Heinsius' emblem collection entitled Quaeris quid sit amor? (sometimes also titled: Emblemata amatoria) published c. 1601. You can find the book online at the Emblem Project Utrecht.
Laxa petens, capitur volucris: sic vincula late
Nostra patent, arcte nec minus illa premunt.
The vocabulary is keyed to the DCC Latin Vocabulary list. There are only two words in this poem that are not on the DCC list:
arctus, -a, -um - close, tight, strict
laxus, -a, -um - wide, loose, roomy
capiō capere cēpī captum: seize
ille illa illud: that
lātus -a -um: broad, wide
minus -oris n.: a smaller number or amount, less; (adv.) minus: to a smaller extent, less
neque nec: and not, nor; neque . . . neque, neither . . . nor
noster nostra nostrum: our
pateō patēre patuī: lie open, extend, spread
petō petere petīvī petītum: seek, aim at
premō premere pressī pressum: press, pursue, overwhelm
sīc: in this manner, thus; sīc . . . ut: in the same way as
vinculum -ī n.: bond, fetter, tie
volucer -cris -cre: flying; volucris -is m./f.: bird