There are some errors in the Latin above (through OCR I presume), but the correct translation can be found in many places and I guess it has been posted here numerous times:
Pope Paul III, Council of Trent, Sess. 6, Chap. 4: “In these words there is suggested a description of the justification of the impious, how there is a transition from that state in which a person is born as a child of the first Adam to the state of grace and of adoption as sons of God through the second Adam, Jesus Christ our savior; indeed, this transition, once the gospel has been promulgated, cannot take place without the laver of regeneration or a desire for it, as it is written: Unless a man is born again of water and the Holy Spirit, he cannot enter the kingdom of God (John 3:5).”
In case you are wondering about aut: The word has a more disjunctive character than e.g. vel, -ve, sive or seu. It tends to mean: "either...or" while one alternative excludes the other.
When one wants to write that both are necessary, one would use "et...et"; if they are possibly not exclusive one would employ vel, seu etc.