I suggest you to contact the Apple Software Developer 'cause your computer might be at risk and needs full program support. And it is also stated on your description that it come with an endless loop of Kernel Panics, so, try contacting them to be able to understand you computers' behavior.
The Mac is 10 years old, full program support isn't an option. I have been on Macs since the Macintosh Plus in 1986 and can most of the time troubleshoot what's going on. This one threw me for a loop. Once I sent the panic report to Apple support, they pointed me in the proper direction and all is good.
It's all handled, thank you.