山不在高 Shān bùzài gāo mountain not at tall
有仙则名，yǒuxiān zé míng, have immortal yet name
水不在深 shuǐ bùzài shēn water not at deep
有龙则灵 yǒu lóng zé líng have dragon and quick-spirit
The mountain is not tall when, immortal, has a name,
The water is not deep, when the dragon has a soul.