Thanks, took it all apart this weekend , and just the old owner ran into something and ripped the wood, no water damage, fixed it up and braced it with some steel, just in case.
First thing that came to my mind was LEAK.causing the bolt to break free. I think I would try and find out if this is the case and if it is correct that problem before making a fix. Had that problem on a pup and that proved to be the case. Repaired that issue them beefed up the area and installed new bolt.