HI all ,New to This forum But not to boating But I recently purchased my first I/O (always had Outboards) A 1982 Renken 995 with 3.0 140 HP OMC with stringer 400 outdrive. Here's the problem I noticed when I bought the boat that the Black sealer on the circuit board of the external voltage regulator had melted and run down on the waterpump pulley.I bought a new one but am concerned about installing.It mounts on the waterpump housing right up front(gets hot here)?.The new one has the same black stuff on the back and is kind of soft to the touch.Did the old one short out ?or maybe there was some sort of recall Do I need to relocate or install a heat shield?I removed the old one before I ran The engine the first time so I don't even Know If It worked. Any Help would be appreciated By the way This forum has been a huge asset to restoring this boat thank Dave