The frame rot at that spot is VERY COMMON(and, yes, I meant to shout that out), it was where the sidestand had been attached. It seems that water collects there and the frame rots from the inside out, I remember a couple cases when the stand tore loose while the bike was on it and then let go causing the bike to land on its left side. I have had two successfully repaired by a competent welder(that would not be me). On one I had a spare, untitled donor frame on which the area was cut out and then transferred to the titled frame. The other was repaired with a metal plate welded to the back. Yours is missing the side stand tab, so you could have a new section welded in and have a tab made, or you could use centerstand only, or leave it as is. Afterall, the area is between the front and rear motor mounting points and should have little to no stress other than when the stand is down. Of course, the latter course is not recommended...Larry