Have you tried copy-pasting it? ... You really wanna work with that garbage? Granted, the font looks a bit condensed and some level of difficulty in OCR-ing may be there, but are you SURE you want to get rid of the image? It will reduce the filesize considerably, yes, but you also need to prepare for an awful lot of proofreading and the possibility that you may miss a comma or two and merge sentences together by accident.
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