[4-5-6-birdman]

You'll call that an "e" brake if you ever lose your hydraulic system!! As with all cable operated secondary brake systems as the shoes wear down, the cables get streched out, ect, once in a while you may have to look and make certain the cable system is snug, there should be an adjuster under the car on the drivers side to tension the cables, a couple of cranks on that should put you back in snug city.

As far as your exhaust leak goes, it could be about anywhere from the manifolds to where the head pipes connect to the head pipes themselves. The FE engines have a terrible manifold to head sealing characteristics, they often warp or the manifolds themselves will crack. Best thing is to fire it up, pop the hood, and lightly burp the throttle with your ear toward the head, get a helper for the passenger side. You'll probably hear, see, or smell your exhaust leak. You don't always have to have a hole in the car to smell exhaust, these old cars tend to have stinky engines as it is..lol. Fumes can be drawn in from the heater box or vents if it's an exhaust leak in the engine compartment. Sometimes it will actually be worse with the windows down going down the road as you create a vacum inside the car drawing the stuff in. Good Luck and let me know what you find.. 4-5-6-birdman