mercury 75ELPT0 1998

by Blair
(Halifax NS Canada)

My 2 stroke 75 Hp Mercury ran well when I put it away last fall. I just got it out of storage and replaced the water pump. It was hard to start so I cleaned the spark plugs and now when it starts, it revs very fast (seems like 3/4 throttle).
Also I have water coming out near the shift rod and the anodes. What did I do wrong?

In the attached picture it looks like something is broken near the throttle linkage.