I offer to recondition my oldest syster's bike . Then I found this was a women's MONARK and has a frame labeled 1982. I know the used to sell bikes for quite some time.
It has corrosion and paint chips and a frame bump near the BB. The stickers are still there but in bad shape/

Since all components are the originals should I re-paint and redo stickers, or just do a major tune-up and leave the frame as is ?

It looks vintage but is this a rare bike?