This is the 895th most frequent Icelandic word.
bæinn
"The town" or "the village" (definite form of "bær").
In this case, 'bæinn' is used as the direct object of the action (depicting), in the accusative form.
Hann lýsir bæinn á myndinni.
He depicts the town in the picture.
Here, 'bæinn' is in the accusative case, used to denote motion towards the town.
Ég fór í bæinn í gær.
I went to the town yesterday.
Here, 'bæinn' is in the accusative case as part of a prepositional phrase indicating movement within or context around the town.