The GT once belonged to a fast rider. Those footpegs tell the whole story and it fits well into the picture together with the modifications made to this bike with a later and lighter seat, lighter tail light, missing fork dust-covers, cut-out clutch cover and other modifications – all with the goal of getting the bike as light as possible.
Because of the bad overall condition of the bike I assume the previous owner once lost interest in the bike and had it stored outside somewhere in a tiny Italian alley for decades.
Those footpegs will go directly into the trash bin. I have restored footpegs and reproduction rubbers in my inventory. The engine will get a good cleaning before disassembling and the airfilter will be replaced by a K&N replacement.