my 240 was about that bad, I welded over 40 patches to it If I can remember.
Heres a thread on that, don't lose hope!
http://www.peachparts.com/shopforum/showthread.php?t=275274
If you do anything immediately, reinforce that seatbelt location while you consider, especially if you continue to drive it around daily. As it stands, it will fold up and pitch forward with slightest pressure.