Good to know that I don't have to deal with the tar-like stuff. I do see it where the hull curves up the bow at mentioned. I have come to the conclusion that the thermostat in the motor is bad so I have ordered a new one. I ran the motor submerged as much as I could get it in a garbage can without the t-stat and it had very good flow out of the tell tale, so that tells me there is no blockage and the water pump I just put in is working fine. I also changed the lower gear lube, changed the engine oil, changed the spark plugs, and lubed the prop shaft as well as all grease fittings. The oil was super dark and the inside of the oil filter was pretty crusty. Once the t-stat arrives, I am going to run it to make sure all is well, then winterize it so I can store it while I work on the boat. Before winter I would like to at least get the rust removed, stringers re-riveted, adhesive removed, and the gluvit stage complete. If time allows, between everything else I have to do in the fall, I am going to try and pull the transom as well. During the winter months, I am going to try to prep as many of the interior components as I can as well as accumulate items that I will need along the way.