If you do have grease, I would check the rear end/transmission for water. If it has been stored outside water will come in around the gear stick. In the day the use and heat would drive off the water as vapor. Remove the bottom plug and see if you get water. If yes there are historical post on how to deal with cleaning the rear end. Then clean up the breaks and replace the band.
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Today's Featured Article - An AC Model M Crawler - by Anthony West. Neil Atkins is a man in his late thirties, a mild and patient character who talks fondly of his farming heritage. He farms around a hundred and fifty acres of arable land, in a village called Southam, located just outside Leamington Spa in Warwickshire. The soil is a rich dark brown and is well looked after. unlike some areas in the midlands it is also fairly flat, broken only by hedgerows and the occasional valley and brook. A copse of wildbreaking silver birch and oak trees surround the top si
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