Just noticed one thing in the photos - or really did not notice something. Volvo timing belts come with a sticker that notes the mileage and date when the replacement was done. That sticker is normally placed on the plastic belt cover on the passenger side of the engine but I don't see one. The only engine picture appears to show a cabin filter replacement sticker on the passenger side near the windshield, but I don't see the timing belt replacement sticker.
Does not mean the belt has not been replaced, but with 154K on the car I would be prepared to replace this ASAP unless you can find proof of replacement. A timing belt failure will be catastrophic.
Good luck.
Oliver
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