@
Padgett
Well it's obviously a bit rough, no matter, a Fat Chance is a grail bike regardless, great find. Looks like the fork might not be original, again no matter and may be.
The outer ring was ground down to be a bash guard, fairly common. Looks like the frame is unmolested which is surprising given the rest of the hacks we see here.
Be careful with the brake levers and hoods, they look like Magura's and if so are likely original, cool, old and somewhat rare, especially with hoods.
You one lucky man, nice score.
Also, given the state, I would get the PB Blaster in the stem, seatpost and BB to free up anything that is sticky or stuck including the lever screws sparingly, being slotted they are usually kind of beat up and if stuck end up more so.