Here is what you are in for,
Getting the two 50mm (or 2") nuts off the axle is one of the hardest parts of the job. Heat helps, especially if Locktite was used before you got it.
Propane torch will break Locktite free. Just enough heat to smoke oil will melt Locktite without damaging steel.
Penetrating oil helps, as does candlewax meted on the threads if the nut is "squealing tight". It will save the threads.
2 50mm or 2" wrenches would be the best, but are expensive to buy. I made my own out of 1/2" thick flat steel bar.
If they are really stuck, you may need 4' long pipes over the wrenches for leverage.
Pipe wrenches or chisels will mark up the nuts. See the chisel marks in this photo. If the nuts are already destroyed, carry on!
You will have to use a 16" long pipe or 1" steel bar cut off sharp on the end to pound out the old bearings.
Here is the first bearing out and the spacer tube between the bearings:
It will probably be very dirty.
After removing both bearings and cleaning everything up, here is your axle apart and the parts you will need to put it together:
I grind the outside diameter of one of the old bearings down and use it to pound the new one into place.
Whether you use a hammer or a press, you always want to put the pressure on the outside race of the bearing, never the inside race.
That is why I use the old bearing, to protect the new, and I grind it down so it will come out of the bore easier.
Better picture of the old bearing with clearance ground on it:
You have to pound it right down to the shoulder in the bore, that is why you want clearance on the old "beat-upon" bearing, to get it back out.
Make sure you put the spacer tube back in before putting the second bearing in!
Once you have both bearings and the spacer tube in, it is time for the seals.
Use a flat plate over them to drive them in flush.
They are easily damaged if you beat on the seals so I like using the flat bar:
DONE!
If the nuts were damaged, buy new ones. Beg, borrow, buy or build proper wrenches to put it back together again.
Tighten the first nut just enough to have the bearings still spin free, tighten the second against it.
I am the guy who uses locktite on everything, especially these nuts. It keeps them tight and saves the axle threads.
ENJOY!
Steve