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Thank you everybody for your input and help with this bike. School has had me extremely busy over the past few months, so I haven't had time to come back here and give an update. I replaced the oil and found one single tiny metal shaving, I attributed this to the bike only having 700 miles on it, and still being in its break-in period. I could be wrong about this though, I've never owned a bike with this low of mileage; are metal shavings common during break-in on ex250's? I cleaned out the carbs (it was definitely needed), removed the mouse nest from the airbox and everywhere else on the bike, replaced the air filter, did the battery box mod, and de-rusted the tank using the ice-cube shake method and then evapo-rust. After re-assembly my petcock does not seem to want to let any fuel come out of it, so I haven't actually had the bike running.
A couple of weeks ago I got a call from the police that a girl had backed into my bike with her Hummer in my university's parking garage. The adjuster came out this week and informed me that the bike is almost guaranteed to be totalled (small dent in tank; front fairing ruined, bent handlebars, engine side cover, kickstand, clutch lever all scratched). This is a shame considering the low mileage of the bike, and that I never got to even ride it.
I just wanted to thank everyone who responded with help to my original post, and provide an update.
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