There should be a rubber hose on the pump (bottom), just keep it greased everytime you pull it out of the water.
"Any grease of the same consistency (NLGI 2) which is water resistant should do the job. The main thing is to keep grease in the bearing cavity and water out. We prefer a hand held jiffy lube since it does not create high pressure. If a cartridge type lever gun is used, it should be pumped gently! Excessive pressure will invert the rubber seal lips and seals will no longer keep water out." Quote from outboard jets website. They've got alot of useful information and parts diagrams for all outboard jets.
OUTBOARD JETS
SAN LEANDRO, CA