Congrats on the "102"! The common clunky rattle on the old Cubs is from the sloppy, possibly worn out drive clutch mechanism. I'm sure the "anti rattle springs" are missing in action and the clutch disc holes are a little oversized. Other causes include; PTO clutch knocking around in the pulley basket...you said the PTO clutch was removed. You could have a rod knock, cam gear gear/shaft with too much end play. It is an old tractor that may have issues that are not impossible to correct.
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Queen Of The Quietlines! 
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