Serial number in signature for the 125.
Just noticed in while in reverse, the lower unit makes an intermittent "clunk".
I put a stethoscope and confirmed it to be the lower unit. Only occurs in reverse. Forward gear is quiet.
I disconnected the shift cable to rule out improper adjustment and shifted it firmly into reverse by hand with the same result.
This isn't the typical clutch dog "grinding" that is consistent with improper engagement, it is a clunk clunk clunk noise.
Next logical steps seems to try to see if it still makes the noise with the prop removed, and drain/inspect the fluid if so. Other than that is seems the LU will need to be repaired.