i had mine go out about a month ago, same rubbing sound against the drive shaft? That is probably where the two individual cables meet the T shaped bracket and routes up to the handle, i replaced mine, i think the new piece was about fifteen bucks, not very hard, just watch for a clip that keeps the spring in the new handle loaded till its installed. Then pull the clip.
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88 LX 5.0 Ragtop
"Desire"
14.29 @ 96.45 mph
Mod Specs