The fouled plug and surging sounds to me like a gunked up carb. I would start with cleaning the carb thoroughly. Put in a new plug and then run the engine. If you are still seeing some surging, clean the tank and insure the vent is allowing air into the tank. Pay particular attention to the float and the float level. If the float is set too low you will starve the bike of fuel and get a lean condition causing the bike to rev high for a short time.
Use the jetting guide at the top of this forum and you should be able to sort out the problems.