DF115 water on tilt and trim, how to drain it?

[dmas]

Hi everybody, I started noticing tilt and trim fluid on the floor underneath my motor and when I removed the plug to check the level a lot of contaminated fluid came out...it was light brown in color, kinda looked like milk, I think the water is coming in thru the o'ring around the tilt rod..

my question is, how do I drain all the contaminated fluid from it, and how bad is having water on the system ?..thanks in advance for your help.