looks bad. Cut the rust out and weld a new piece in, but don't do it yourself if you arent qualified cause it'll probs get facked. If thats the only rust and you can get it fixed cheap and respray the car for like $2-3K depending who you get to do it you'll have a nice car. real shame it doesnt have the OG engine Some original photos have not been recovered yet.

just go buy some rust converter from a paint store haha then bog over it prime it paint it good as new :P