When I inspected the timing belt on my 2002 F200 outboard (1350 hours) I noticed the belt appeared loose and was riding up approximately an inch on the two cams. I went ahead and replaced the timing belt thinking it may have strectched out over time. After we replaced the belt and started the engine the belt did the same thing and raised up on the cams. To me this points to a tensioner issue. I see in the service manual it says to inspect the tentioner and replace when needed. The tensioner appears to be fine, but I am not sure what to do at this point. Can the tensioner be adjusted or does it have to be replaced? Has anyone else ever had this problem or have any suggestions on how to fix it. On the bright side the engine runs like new even with thi sproblem. My only concern is over time it will wear the belt down and cause it to break.