To remove the crank; stick a screw driver in one of the holes on the washer nut (the one that says ccm) and bang the end of the screw driver with a hammer (same direction you took the nut off), it'll loosen and you can unthread it with your fingers from there, once you unthread it you can pull the crank out from the other side out of the crank housing (you need to remove at least the left pedal by the way, the whole crank system with the sprocket is all connected together; beautiful), you will have to remove the bearings also before you can get it out as they get in the way, simple.

I wouldnt paint the saddle springs, just soak em in oil, the springs were probably chrome tho, Dont be afraid of rust... Im sure you can still use the original chain if you soak it over night in oil or kerosene.

You might be able to buy a replacement chain if you want I guess (i forget the "size"), but it will be labeled for single speed bikes, dont get one for a derailer bike it wont work. Hope its long enough though, thats a 28" bike with a pretty large front sprocket, most single speed chains today are sold for BMXs.. so I would really advice you try to use the original chain if you could.

If that doesnt work you can try to find another old 28" single speed bike as a donor and use its chain.. if you dont know where to find one I would suggest the dump.. or post a want ad looking for old rusty single speed bike, im sure you can buy one cheap enough. You might need a mens model as girls model bikes usually had smaller sprockets which means a shorter chain.


PS: do the bearings in the crank say "Hartford USA 64" on them? I just ask as every crank set bearings ive seen so far have been that type, from my oldest bikes to some little kids bikes ive taken apart. (same size crank housings!)