I don't know if the I/O controls are the same as the outboard but usually on the outboards the center stud that everything rides on will corrode and swell causing friction on the bushings.
Disassembling, brushing the corrosion and greasing with waterproof grease will usually get them operational for several more years.
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'75 Cuddy with '00 Johnson Ocean Pro 150 horse
Benny
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