I just purchased a 17 ft bass boat with a 1984 70hp Merc. The tilt and trim unit was leaking a little when I got it. The lines were loose so I tightened them up and thought I was good to go (4 line system with 3 wire leads). Before I put the boat in the water, it would not hold the motor in tilted position. It dropped back down very slow. It would drop completely overnight. The first time I took the boat out everything seemed o.k.. To test out the tilt and trim I ran the motor tilted up a little. I notice it didnt hold the position. A short time later I went back to the launch. As I came in I tried to trim the motor up but it didnt move. I could hear the pump going but no movement. When I opened the rear hatch to check the pump there was a big puddle of oil under the control valve. When I got home I checked it all out. The leak is coming from a small hole that is in the valve body that the control knob threads into. The hole is machined into the control valve body (maybe an overflow or check valve?) Now as soon as I open the fill screw oil pours out the hole. I cant get enough oil into it to try to move the unit up or down. I have priced the valve and it list for 771.00 if its still available. Can I rebuild this control valve? Does someone sell a kit? My Merc. Dealer said I had to replace the entire unit that he cant get parts for something that old. Does anyone know what is wrong here or how to repair it? Thanks - Mark