The fusible link(s) are always close to the battery. So if the battery is under the rear seat, one wire with a fusible link goes from battery under rear seat to the B+ pole and from there to the e-box. The fusible link is close to the battery under rear seat.
The other one goes from the battery to the driver side fuse/relay box under rear seat to power that.
In case the battery is in engine bay, see here http://www.bmwe34.net/E34main/Mainte...sible_link.htm
All E32 have 2 fusible links, in case of E34 it depends on the built year, and most probably engine type (I have no details on this) read this thread https://www.bimmerforums.com/forum/s...t=fusible+link
The 1995 US spec ETM unfortunately does not show the 518i, starts with 525 http://shark.armchair.mb.ca/~dave/BMW/e34/e34_95.pdf
that shows on page 0670.2-01 2 fusible links, F97 goes to B+ junction box in engine bay and from there to the front power distribution box.
and fuse F0 is 80A and goes to 0670.2-07 page , rear power distribution box. In this case the battery is probably under rear seat passenger side.
also on this German E34 DIY it is not clearly mentioned which model has the battery in engine bay and which under rear seat http://www.ah525i24ve34.at/HTML_ah52..._batterie.html