I am considering a purchase of a 2002 Merc 125 Saltwater ELPTO. The boat was kept in a shed with only a monthly start and flush being done. I have test drove it twice and there is a problem. It runs fine under 4200 RPMs. When you get to 4200 rpms, after about 1 minute, the temp alarm goes off and stays on until you shift to neutral and wait a few seconds. After the first test drive, the current owner took it to the Merc mechanic and he installed a new water pump kit, new thermostat gasket, and he changed the lower unit oil and oil seal. After reading through this forum, I asked him about the thermostat and he says the thermostat seems to be opening and closing like it is supposed to. After the repairs, on the 2nd run, the boat still runs fine under 4200 rpms for an extended period of time but the alarm still goes off when the rpms are 4200 rpms or higher. There is a steady stream of water from the Pee hole and the motor does not seem to be be getting too hot to the touch. The mechanic seems to think there is a coating of slime or something inside the water jacket so it's not removing the heat like it should be doing. I am open to any suggestions at this point because I still think it might be the thermostat. Do you all think this is something that is more serious going on here? The rest of the boat is in really good shape and the maintenance looks like it has been done by the owner.