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The fungus or whatever it is should not be there. It should be clean under that cover. That stuff may have been intended to act as insulation, but I’d suggest getting it out of there because it may be hiding problems, and could conceivably cause a short-circuit or even a fire. it looks like they may have jury-rigged some kind of voltage regulator in there. You don’t want that, its best to render the charging circuit inoperable for these motors in order to avoid the risk of overheating the windings on the rotor.
Your motor has what some refer to as the “veranda” style starter due to the large additional section bolted onto the front side of the round starter housing. I prefer to call it the “dashboard” type.
You basically have the same starter-generator as I’m showing on an Elto Super C, but they added that section on the front to house the key switch, power on-off switch, and ammeter.
The Owen-Dyneto starter-generator works thusly;
a) at low speeds, and the engine not running, it will act like a motor, and use battery power to rotate the crankshaft until such time as the engine starts
b) at higher speeds, it acts as a generator, and supplies current to recharge the battery and run on-board accessories that use 12V DC current to operate (such as lights, pump, etc)
To operate, the power switch is turned to the ON position, and the lever that is underneath the dashboard is pushed all the way to the right (port side of the boat) to activate the starter. Once the engine is running, the lever is returned to its normal position. All functions of the motor now are controlled by the switch.
HOW IT COMES OFF – well, take the points cam off first. You then would have to remove the point plate. With that out of the way, next remove the cover that holds all the brushes and contacts. With that remove, the rotor is now exposed. Remove the crankshaft nut and use a puller to lift the rotor off of the crank. With the rotor out of the way, you can unbolt the circular outer housing from the top of the crankcase. Reverse procedure for assembly. Hope it helps.
Best,
PM T2
He's livin' in his own private Idaho..... I hope to go out quietly in my sleep, like my grand-dad did..... and not screaming, like the passengers in his car...