I just went through a similar problem with my father's 1862. After running about an hour or two, you would loose spark and have to leave it sit where it stopped for about 3 hours until it cooled down. Like Sam said, the flywheel side of the cooling fins were really plugged up. Cleaning them out and replacing the magneto did the trick. It now will run for hours. I ended up leaving the motor bolted to the mounting plate and removed the motor with the mounting plate as a unit.
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1989 - Cub Cadet 1772
1987 - Cub Cadet 1572 w/Rear PTO & Cat. 0
38" Lawn Sweeper #196483
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48" Haban Rotortiller Rear PTO Driven #190356
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60" Haban Mowing Deck #196374
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