yo RED,
Some info for you;
"...I'm going to get a whole new valve soon, and I'd suggest you do the same. You can only get them from a Ford parts counter, or at least I have yet to find another source. They run about $50, IIRC. & Overview in a 96 from Workshop Manual; "...The brake pressure control valve regulates the hydraulic pressure in the rear brake system. It is located between the rear brake system's inlet and outlet ports in the main valve. When the brake pedal (2455) is applied, the full brake fluid pressure passes through the brake pressure control valve to the rear brake system until the valve's split point is reached. Above its split point, the brake pressure control valve begins to reduce the hydraulic pressure to the rear brakes, creating a balanced braking condition between the front and rear wheels to minimize rear wheel lock-up during hard braking.In case of the front brake system malfunction, the brake master cylinder fluid control valve has a bypass feature, which allows full hydraulic pressure to the rear brake system..."
Source: by Ford via SigEpBlue (Steve) at FSB
and this is from da 1996 F-150, F-250, F-350, Bronco and F-Super Duty Workshop Manual
Item Part Number Description
1 2162 Brake Master Cylinder Filler Cap
2 — Float (Part of 2L454)
3 2L454 Brake Master Cylinder Reservoir
4 — Brake Master Cylinder Grommets (Part of 2L454)
5 2140 Brake Master Cylinder
6 — Stop Bolt (Part of 2140)
7 — Primary Piston (Part of 2004)
8 — Snap Ring (Part of 2004)
9 — Secondary Piston
(Part of 2004)
10 2C161 Brake Master Cylinder Fluid Control Valve
Brake Master Cylinder
WARNING: BRAKE FLUID CONTAINS POLYGLYCOL ETHERS AND POLYGLYCOLS. AVOID CONTACT WITH EYES. WASH HANDS THOROUGHLY AFTER HANDLING. IF BRAKE FLUID CONTACTS EYES, FLUSH EYES WITH RUNNING WATER FOR 15 MINUTES. GET MEDICAL ATTENTION IF IRRITATION PERSISTS. IF TAKEN INTERNALLY, DRINK WATER AND INDUCE VOMITING. GET MEDICAL ATTENTION IMMEDIATELY.
Disassembly
Remove the brake master cylinder (2140) from the vehicle.
Clean the outside of the brake master cylinder. Remove the brake master cylinder filler cap (2162) and gasket. Drain and discard any brake fluid that remains in the brake master cylinder.
If equipped, remove the brake master cylinder fluid control valve from the brake master cylinder.
Remove stop-bolt from the bottom of the brake master cylinder.
Depress the primary piston and remove snap ring from retaining groove at the rear of the brake master cylinder bore
Remove primary piston assembly from the brake master cylinder bore. Discard assembly.
Remove the secondary piston assembly by directing compressed air into the outlet port at the blind end of the bore while plugging the other outlet port. Discard assembly.
Inspect the brake master cylinder bore for signs of etching, pitting, scoring or other damage.
If bore is damaged, discard and replace with new brake master cylinder. Do not attempt to hone bore.
If bore is not damaged, rebuild brake master cylinder using the proper repair kit and the procedure below.
Assembly
Clean the brake master cylinder body with clean isopropyl alcohol to remove any contamination.
Dip the repair kit piston assemblies in clean High-Performance DOT 3 Brake Fluid C6AZ-19542-AA or -BA or equivalent DOT 3 fluid meeting Ford specification ESA-M6C25-A to lubricate seals.
Carefully insert the complete secondary piston assembly in the brake master cylinder bore.
Carefully insert the primary piston assembly in the brake master cylinder bore.
Depress the primary piston and install the snap ring in the groove in the brake master cylinder bore.
Install the stop bolt into the bottom of the brake master cylinder.
If equipped, install the brake master cylinder fluid control valve into the brake master cylinder.
Install the brake master cylinder filler cap on the brake master cylinder reservoir.
Install the brake master cylinder on vehicle.
Bleed the brakes. Refer to Service Procedures in this section. Check for proper brake operation.
Some info for you;
"...I'm going to get a whole new valve soon, and I'd suggest you do the same. You can only get them from a Ford parts counter, or at least I have yet to find another source. They run about $50, IIRC. & Overview in a 96 from Workshop Manual; "...The brake pressure control valve regulates the hydraulic pressure in the rear brake system. It is located between the rear brake system's inlet and outlet ports in the main valve. When the brake pedal (2455) is applied, the full brake fluid pressure passes through the brake pressure control valve to the rear brake system until the valve's split point is reached. Above its split point, the brake pressure control valve begins to reduce the hydraulic pressure to the rear brakes, creating a balanced braking condition between the front and rear wheels to minimize rear wheel lock-up during hard braking.In case of the front brake system malfunction, the brake master cylinder fluid control valve has a bypass feature, which allows full hydraulic pressure to the rear brake system..."
Source: by Ford via SigEpBlue (Steve) at FSB

and this is from da 1996 F-150, F-250, F-350, Bronco and F-Super Duty Workshop Manual

Item Part Number Description
1 2162 Brake Master Cylinder Filler Cap
2 — Float (Part of 2L454)
3 2L454 Brake Master Cylinder Reservoir
4 — Brake Master Cylinder Grommets (Part of 2L454)
5 2140 Brake Master Cylinder
6 — Stop Bolt (Part of 2140)
7 — Primary Piston (Part of 2004)
8 — Snap Ring (Part of 2004)
9 — Secondary Piston
(Part of 2004)
10 2C161 Brake Master Cylinder Fluid Control Valve
Brake Master Cylinder
WARNING: BRAKE FLUID CONTAINS POLYGLYCOL ETHERS AND POLYGLYCOLS. AVOID CONTACT WITH EYES. WASH HANDS THOROUGHLY AFTER HANDLING. IF BRAKE FLUID CONTACTS EYES, FLUSH EYES WITH RUNNING WATER FOR 15 MINUTES. GET MEDICAL ATTENTION IF IRRITATION PERSISTS. IF TAKEN INTERNALLY, DRINK WATER AND INDUCE VOMITING. GET MEDICAL ATTENTION IMMEDIATELY.
Disassembly
Remove the brake master cylinder (2140) from the vehicle.
Clean the outside of the brake master cylinder. Remove the brake master cylinder filler cap (2162) and gasket. Drain and discard any brake fluid that remains in the brake master cylinder.
If equipped, remove the brake master cylinder fluid control valve from the brake master cylinder.
Remove stop-bolt from the bottom of the brake master cylinder.
Depress the primary piston and remove snap ring from retaining groove at the rear of the brake master cylinder bore
Remove primary piston assembly from the brake master cylinder bore. Discard assembly.
Remove the secondary piston assembly by directing compressed air into the outlet port at the blind end of the bore while plugging the other outlet port. Discard assembly.
Inspect the brake master cylinder bore for signs of etching, pitting, scoring or other damage.
If bore is damaged, discard and replace with new brake master cylinder. Do not attempt to hone bore.
If bore is not damaged, rebuild brake master cylinder using the proper repair kit and the procedure below.
Assembly
Clean the brake master cylinder body with clean isopropyl alcohol to remove any contamination.
Dip the repair kit piston assemblies in clean High-Performance DOT 3 Brake Fluid C6AZ-19542-AA or -BA or equivalent DOT 3 fluid meeting Ford specification ESA-M6C25-A to lubricate seals.
Carefully insert the complete secondary piston assembly in the brake master cylinder bore.
Carefully insert the primary piston assembly in the brake master cylinder bore.
Depress the primary piston and install the snap ring in the groove in the brake master cylinder bore.
Install the stop bolt into the bottom of the brake master cylinder.
If equipped, install the brake master cylinder fluid control valve into the brake master cylinder.
Install the brake master cylinder filler cap on the brake master cylinder reservoir.
Install the brake master cylinder on vehicle.
Bleed the brakes. Refer to Service Procedures in this section. Check for proper brake operation.