If you heart is set on this bike but this is your first bike overhaul this NOT the bike to start on. Besides the rust issues being French it will have some eccentricities such as odd thread sizes, etc. Store it for later and pick up something more standard to learn on. As someone else replied pick up an older Japanese bike to learn on. 1980's Fujis needing some TLC can often be had for pocket change and make very nice bikes when completed. They are good quality, easy to work on and even the low end models used good quality components. Strictly personal opinion but 1984 through 1986 seem to be the best years but any year is good.
Are you sure those 26" wheels? Look like 27's from here.
Last edited by Murray Missile; 07-16-21 at 05:24 AM.