How do you read a declamation?

Almost anywhere! Eulogies, commencement speeches, political speeches, ANYTHING previously published and delivered in public meets requirements for Declamation in most Forensics (Speech) leagues....

it's REED and read

Yes. To know which one your talking about you have to read the whole sentence. And guess which one to use. :)

That's the correct spelling you have there.

Both can be used.