here are two images of an original finish Favorit F12 of 1979:
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owned a new 1973 model year example of your cycle
it was finished in a chartreuse flambouyant somewhat similar to "Legnano green" and fitted with all Favorit/ESKA bits
dropouts have a distinctive pebble grain surface
importer here in the states where am located was an entity called American Jawa Ltd based in Valley Stream New York, and later Plainview, Long Island, New York
they were a stockist for other Czech product lines such as Barum tyres, Brano chain hoists & pulleys, Velorex sidecars, Zator tractors & JAWA mopeds
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the plant in Rokycany CZ which produced Favorit cycles also produced machines under the marques ESKA, JAWA, Pioneer, Rapido & Velamos
Pioneer marque employed for juvenile models
Rapido marque employed for practical adult transportation models of one-speed, three-speed planetary and five-speed derailleur drive trains
Velamos name used, like Favorit, for sports model bicycles
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serial note -
here is the serial on an ESKA badged machine from the plant so readers can see what the serials look like -