Rebuild of a Bendix Two Speed Automatic Hub on an early 60's Schwinn Bicycle

I've sort of inherited a couple of Schwinn bicycles. They were my parents' bikes when I was a kid. Somehow the bikes just kept following either my parents or me around during moves and whatnot. Both bikes have a two speed "automatic" Bendix hub. They've sat in one garage or another taking up space, but never got used in the last 30 or so years. Below is a photo of Dad's bike. I'm not sure if Dad had planned on painting the entire bike blue or if he was satisfied with the color scheme once he'd finished painting the fenders. The red paint is original.