I have a 1986 Merc 75hp, 4 cyl, #A116500. I'm unable to locate in my manual what the "zerk" fitting is behind the Prop and "washer". It sits at the 12 o'clock positiion above the output shaft.
It puts a grease seal on outer edge of bearing carrier to help prevent it from sticking in brackish/salt water..about 3 pumps is all it will hold if your lucky