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That's why I removed my spare from down there cuz I't was very hard to mount/dismount it, but if I remember well, there was only one nut to remove, just be careful cuz those tires are pretty heavy, I'm trying yo find some pics if I found some in the Haynes manual, I'll post it for you.
There should be a bolt on the right (passenger) side holding the tire cradle to the frame with a loop in the end. Place the skinny end of your lug wrench in the loop and loosen the bolt. Once you have it loosened a fair amount, the tire should be able to swing enough to allow the loop to pass through the larger diameter hole in the tire cradle and tilt to the ground. You may need to spray some penetrating oil on the threads above the frame 1st and allow some time for it to work.
I tossed my spare tire in the bed since I have a cover. With my luck I can see myself getting a flat in the rain while I'm wearing my good clothes and have to lay on the wet ground and wrestle with that.
The first and second time I had a flat there was about a foot of snow on the cround in colorado. The second time I stayed under there and removed the rack, it is probably still on the side of that dirt road some 33 years later. lol After you screw the bolt out some you have to lift the tire and rack up to move the bolt over to the bigger hole it slips threw. Make sure the loop on the end of the bolt is turned the right way before you lift it or you will fight it for a second then have to let it down and turn the bolt .
I have a 76 F150 Styleside. On my truck the release is on the passenger side. There is a small "L" shaped pin that you pull out, kinda like a lock. Then squeeze the handle. The latch moves in, and the spare tire rack can be lowered. No bolt to be loosened on mine. Lowered it last weekend to R&R the fuel tank.
thanks bro .. and yeah i got two jack stands to catch the tire since i would like to keep my ribs in one piece
If you have a floor jack, place the jack under the spare and use the jack to lower it. Put it back up the same way. A sissor jack can also work. Good luck.