The rear axle may need some hammering to get out, the fit in bearings is tight and just a little bit if rust will make it hard to come out.
Once you have it out, it does not hurt to polish it and grease it little.
Electronics, watch for the rectifier, use only elements that look like nut to loosen it up, the cooling boards are not to be used for wrenching.
Oregon electronics offer modern replacement for these bikes.