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Pantera Turn Signal

I have a 1974 "L" Type Pantera. The turn signal will not remain in the "locked" position when turning either right or left (i.e., the lever must be held in place manually while the turn is being made). I don't know if the components that should lock and release the arm are broken or just badly worn, but it appears that a used replacement assembly would be somewhere north of $350. Anybody know if the existing signal can be adjusted/repaired, or if I'm going to have to bite the bullet and replace it?

Thanks!
j. bishop
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