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“The 12th Amendment specifically provides that any person constitutionally ineligible to be President may not be Vice- President. There is no ambiguity whatever.”

I believe that to be true, but not the premise of my point.

Do you see any ambiguity here?:

“No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of the President more than once.”