Obliterate fusty crumbling monument (6,2,7)
I believe the answer is:
statue of liberty
Here is my best explanation:
'monument' is the definition.
(Statue of Liberty is an example)
'obliterate fusty crumbling' is the subsidiary indication.
'crumbling' indicates an anagram.
'obliteratefusty' is an anagram of 'statueofliberty'.
(Other definitions for statue of liberty that I've seen before include "National icon", "tourist attraction", "free representation", "Landmark" and "figure on island".)