Original
Final
Restoring old photos is a passion of mine. One trick I learned from Katrin Eismann ( get her book) is when there is this much damage, find where it lies within the photographic information. The mold seen lies mostly in the Blue and Green channels. By converting the image to a monochrome only using the Red channel, the mold spots go away! Of course much more was done to get to the final result. It was a fun 3 hours of work. Enjoy, Jeff