Seeking advice on conditioning Enesco Strop

Just bought my first straight razor. Bayamontate just honed and polished it, so I should have it back in a few days.
I got a old barber strop made by Enesco. Leather finish strop, and linen behind it.
I am attaching photos showing condition.
My questions are
1.Should the small nick at the top be fixed with sandpaper? Some other method?
2. I have Lexol leather cleaner. "Lexol cleaner, loosens embedded dirt in tooking, crevices and hard-to-get places. Lifts out grime and foams it away. Safe for leather. PH balanced. Contains no wax or additives to clog pores. No harsh ingredients to damage, discolor or to leave a dull film. Rinses easily"
Should I apply Lexol to the leather strop?
Or should I get something else like Saddle Soap, or a different leather cleaner.

I also have Leather balsam, which is mineral oil and beeswax in paste form. I see a lot of guys are putting carnuba wax on their strops. I use the balsam on my shoes, it conditions and waterproofs the leather.
I also have read you got to watch putting any kind of oil on strops since the oil attracts dirt. So I am a little confused.
Here are the pictures. I am new to this so I am seeking the groups expert advice on how to get this strop ready for my straight razor.

Here are photos of the linen side.

That looks rough. Not sure I would put an edge freshly honed by Bayamontate on that. It needs some work from someone who knows what they are doing. Don't strop the razor when you get it back. Just shave with it. You can dismantle the linen and wash it. I wouldn't be too rough with it. Just soak it and see what you can get out. Maybe rub with your hands. A soft tooth brush might be ok but not so stiff as to pull fibers up.

Most of the dirt visible on the linen side is small bits of leather from the bottom side of the strop. I am going to scrub the linen down with a mixture of Woolite and Bleach, using a fabric scrubber. My wife learned this trick from a dry cleaner.
What about the leather? I have been rubbing it with my palm, it does not feel that stiff. I am thinking about putting some Zymol cleaner on it to clean it up. Might also try burnishing with a wine bottle or the bottom of a ceramic cup.
I am thinking of putting a thin coat of Renapur Leather Balsam after I clean the strop.
The balsam has Beeswax, Carnauba wax, Jojoba oil and Avocado oil,
Has anyone ever used this product on a strop?

The strop doesn't look bad at all. If it feels smooth, I would just hand palm it, lots, until it softens and gets supple!


Mike

I would not use any bleach on the linen. Try the Woolite and a toothbrush first. The bleach will weaken the fabric.

Thanks for the tip on not using bleach, I will just use the Woolite.
I have been rubbing the leather with the palm of my hand. The leather feels OK. I am waiting to get my razor back, which is already honed and stropped, so after my first shave I can see how it feels on the strop.
I also have a paddle strop, so I will strop on that too and see if I can feel any difference in the leather.