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Sorry ----I edited the other post.---It appears there is bushing not a bearing.----Same issue with corrosion like there is on all plastic bushings on outboards.---Understanding corrosion and what takes place makes it easy to understand.
If this is a 4 cylinder motor the reed valves do exist.-----They are way inside the motor on the crankshaft assembly !----Easy to find on paper.----Many hrs of work to get your hands on them.
You need to accept the fact that timing on these motors is set at the factory.------It does not go out of adjustment during normal operation of the motor.------Unless the flywheel key shears.----Or somebody starts tinkering with it.
??----The reeds are way inside and part of the crankshaft assembly.----Easy to find on paper.-----Lots of work to get your hands on them if there is an issue.----Remove flywheel.----Inspect upper bearing housing and upper crankshaft seal.----Seen the bearing housing loose and seal popped out.
When that bearing goes it usually wipes the teeth off the pinion and forward gear.---Perhaps damages reverse.------Perhaps a broken clutch dog.------Did you price those ?