Rod Brakes Compensation Link
The use of the compensation link is covered in the Workshop Manual. The aim is to use it to take up wear in the various pivots. First release the lock nut in the centre of the link, then remove one of the slit pins and pull out the corresponding clevis pin. Now push the levers at each end apart with firm hand pressure and then turn the end of the link to adjust its length. When correctly adjusted the clevis pin will slide back into place easily while to levers are held apart.
The only possible complication is which of the two holes in the rear lever should be used? The answer is the top one as shown here.