Your Binova is the 1987 edition, in the Ferrari Red/White colour option. It was 2nd from the bottom of a 16 model road line.

That's pretty heavy rust of the fork crown. I'd likely remove the fork (here's your practice), strip the entire crown using abrasives then repaint. You can try to match the white or go contrasting and try to match the red. Given that the white will be separating it from the red on the frame, colour match won't be as critical/noticeable with a contrasting fork crown in red. Another option would be chrome paint for the fork crown.