As I think others have said, it sounds like a connection problem between the mics and the recorder. Toward the end of the sample you provided, the timing of the static sounds exactly like what I would expect from a swinging cable or pressure being applied to a jack. The cutout sounds like what happens when the power to a mic is interrupted. My bet would be on a cable, probably at one of the ends.
As to your other question, it can probably be fixed, but I don't think you'd be happy with the results given the amount of time you'd likely spend. This sounds like broad spectrum noise, and since it affects both channels, you can copy between them. Anything you do will likely impact the sound enough to still be noticeable. I'd say chalk it up to experience and move on. Maybe you can get a copy from someone else?