Keep in mind that on your '77 electric shift, when you pull the two bolts, the motor wants to fall to pieces, so be careful. Try holding it all together as you lift it out and up. The thru bolt hold both motor endplates in place.
As redrig said, there is a high probability that either the prongs are broken on the end of the motor armature shaft OR one of the keys in the hammer blow coupler is broken. This is one of the symptoms of improper use of the up/down switch. You should never engage it and let the drive run it's full path. Stop short of full up or full down then bump the switch for the rest of the travel.
Not sure if you can see the prongs on the end of this shaft.
You can see the keys in the coupler. There is one on each side. One engages the prongs on the tilt motor shaft and the other engages the worm gear shaft going down to the clutch pack.