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1990 GT 5.0

Just picked up a 90 Fox and I've got a few questions. Got the car and it has spun the dampener broke the timing chain and cover. Should I remove the motor or is it possible to clean it up and replace the broken items and possibly get it running again? I only gave $500 for the car and it came with an additional used short block that I plan on stroking eventually. Thanks in advance.
 
I don't think that the 5.0 motor is an interference egine so no valves went crashing into the pistons when the chain broke.
All that you need to change can be done with the engine in the car. Personally I would replair it and get it running again
 
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