That is the wonderful electric primer valve.-----Takes the place of choke flappers.------You push the key in and hold it in during cranking for cold starting.-----The shreader valve allows you to inject storage oil or engine tuner products.-----The red lever allow you to manually open the valve should you have a dead battery.----Yes this motor will start / run with a dead battery.----The picture shows the red lever in the proper RUN position.-----Get an owners manual before starting this motor.----Determine if oil injection is in service or bypassed.-----Replace impeller if this motor is new to you.-----Test overheat horn.----Do a compression test post the numbers here and keep them for the future reference.-----This enough to confuse you for now
