looks like a nice bike. since it is July already I would not strip the frame and start a whole overhaul just clean it real good and tune it up. then if she starts riding alot do a bearing at a time overhaul, the do the bath thing over the winter.
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“One morning you wake up, the girl is gone, the bikes are gone, all that's left behind is a pair of old tires and a tube of tubular glue, all squeezed out"
Sugar "Kane" Kowalczyk