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Before buying any parts, I would pinpoint where the coolant is coming from. Is it from the crankcase and water pump sealing surface, or is it from the small hole in the water pump housing where the propeller shaft runs? If it is from the sealing surface, you may just need a new o-ring. If it is from the small hole in the housing, it is the shaft seal and you will need another water pump (as Will said, they are not rebuildable).
Talk to a parts department, as you might be able to buy a pump separate from the housing neck, but I'm not sure. The process is pretty straight forward: pull the pump off as one unit (2 bolts), and then separate the pump from the neck housing (2 bolts). Join the neck and a new pump, and reinstall. Depending on what the large neck housing o-ring and smaller water pump o-ring look like, you may want to replace them. Then it's a matter of connecting all the hoses back up and thoroughly bleeding the system of air.
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