Thanks.

I was able to remove the cap, clean up the washer and re install. so far no leaks. I know that washer is supposed to be replaced. but I don't have any spares at the moment. Looks to me that previous owner when they did the head, didn't replace the crush washer and it was pinched oddly causing the leak.

I also found this for future reference. For anyone else.
http://www.w124performance.com/service/w124CD1/Program/Engine/103/05-3100.pdf

You can clearly see how the ratcheting tensioner works as well. Good info.

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Just my MB's:
1990 420sel - Winter DD - 410,000km
1990 560sel - absolutely showroom mint - 360,000km!