It isn't often something goes wrong with my '75 750F, but today the rear brake gave out. I noticed the pedal travel was excessive as I came to a stop. I looked down and saw brake fluid dripping under the rear master cylinder. I took it apart when I got home. I figured that the master cylinder had developed a leak - understandable since it is 31 years old and has never been rebuilt.
What I found wasn't what I expected. The brake pedal linkage connects to a pushrod that actuates the master cylinder. There is a rubber boot that covers the top portion of the pushrod and seals around the bottom of the master cylinder. When I pushed the pin out that links the pushrod to the rest of the linkage, the pushrod fell free of the master cylinder (that shouldn't happen) and the boot popped off the cylinder. The boot was completely full of rusty water about the consistency of mud. The circlip that keeps the pushrod captured inside the master cylinder had rusted away, finally breaking in half and allowing the pushrod and piston to drop out of the cylinder.
The only thing harmed was the circlip. There was a little corrosion on the pushrod, but it cleaned up fine. All the rubber parts are in excellent shape and so is the cylinder bore. I cleaned everything up, found another circlip. and put it all back together. No leaks.
I suggest if you have an F model and you haven't had that area apart in awhile, it might be a good idea to check inside that boot, especially if you ride in the rain a lot.