but the chest that contained

[suprunp]

He had inspected every inch of his equipment, adjusted the harness of the saddle until it was perfectly comfortable for Saphira, emptied the saddlebags of everything but the chest that contained Glaedr’s Eldunarí and a blanket for padding, and buckled and rebuckled his sword belt at least five times.
(C. Paolini; Inheritance)

Is this sentence ambiguous and can it be read in the two following ways?

1) ... but the chest that contained
Glaeder's Eldunarí and a blanket for padding.

2) ... but a blanket for padding
and
the chest that contained Glaeder's Eldunarí.

Thanks.

[Rover_KE]

Yes - it's ambiguous.