Sproket,
First, you have found the problem and know what has to be done.
This 'repair' is temporary as eventually you will have to put the triple tee apart, clean the bearings and properly repack them.
As no new parts will be required (no sticking after this cleaning proves that the bearings are in decent shape), this gives you some time to plan the job on a rainy day keeping your bike on the road for the time being.
The job could be done in a couple of hours but as you will have to remove the brake line (between the master cylinder and the upper tee) it could be a good opportunity to totally drain the brake fluid and put the calipers apart for a cleanup and fluid replacement.
Ned just posted an excellent explanation of the procedure. This was for the back caliper, but the front are exactly the same.
If you decide to do the brake job at the same time, have the O rings in hand (see Ned's article in the tutorial section).
You should also have a new gasket ring #3 (aluminum ring if I remember) on hand. (BMW part # is 07 11 9 963 072).
Washer #4 is not installed on the K100rt
The job could be done without removing the fairing but you should plan a full day.
Bleeding the brakes:
What I found and may help people:
I am using a syringe and fill up the calipers before re-installing them on the bike (the caliper's pistons being pushed in).
I then reinstall the brake lines but don't connect them to the master cylinder. With the same syringe (I have a small piece of hose between the syringe and the bleed screw), I am pushing more fluid into the system until it start to flow at the highest point on the system.
I do this from both calipers. The goal is to fill up the system leaving an opening for the air to escape.
I then reconnect the hose to the master cylinder, fill it up then start pumping to bleed the brakes. At this time I am good for 1 of 2 cold ones. When I come back an hour later, all the air will have risen to the master cylinder and when gently and slowly pumping I can see all the tiny little air bubbles coming in the reservoir.
As always when working with brake fluid, be careful not to have any leaks onto the painted parts (fairing and tank). The brake fluid will dissolve the paintSproket, I got a bit confused when looking at your profile and seeing your bike as a R100rt. when reading your original post, I found that you were waiting for a thermostat which doesn't exist on a R100
. This procedure and schematics are for K bikes as i think the R bike has bushing in stead of bearings.