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outboard nipple question.

Hello guys can someone tell me what's this nipple for? it seems to have a rubber boot wire tie around it. I thought it was a grease point @ first but then thought this part of the lower unit is submerge in the water or could it be a grease point & i have to cut the wire tie to get to it? IMG_6223.jpgIMG_6223.jpg
 
Interesting that you think it needs to be greased.-----That is actually there to provide a feed for a speedometer !!
 
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