Farmall disk brakes like your 350 has are quite different from automotive (caliper) disk brakes. Each brake assembly consists of a pair of rotating brake disks splined to the differential output shaft. These disks have the friction material bonded to them. In between the brake disks sits an actuator assembly consisting of a pair of cast iron disks. The whole business is then sandwiched between the cast iron brake cover and the side of the transmission. In operation, the brake pedal causes the actuator assembly to expand (thru balls and ramps between the actuator disks) when the pedal is depressed. This squeezes the friction discs between machined surfaces on the actuator disks, the inside of the brake cover and the side of the tranny causing the braking action. Many people bad mouth Farmall disk brakes. However properly maintained they work great and last a long time. But they are extremely sensitive to contamination from leaking tranny lube, rainwater infiltration, lack of lubrication of the shaft splines/actuator disk balls, improper adjustment, etc. Also a set of 4 new friction disks (2 required on each side) will run close to $100. Hope this helps...
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