New Valiant Owner (65 4-door)

well I started looking over the car a little more since it was nice this weekend. I guess I was a little lazy checking out the underneath when I got it, but since there was 6 inches of snow on the ground it doesn't suprise me. Although most of it looks pretty solid, right below where the drivers side floor board is rusted out I found this

not really something I was looking to repair, but I guess there's always something unexpected