Re: The transom mount on a 1976 9.9 hp Evinrude
Get some PB Blaster on it and let it sit over night then tap the bolt out, as Raczekp said use something on the end of the bolt so you don't bugger it up, the smaller bolt is a good idea or even a peice of wood, it has been in there for 36 years so it is going to take some work to get it out.
Once you get it apart clean everything up really good and grease before you put it back together and there should be zerk fittings on the mount, hit them with some grease once or twice a year.