That sounds like the classic "death rattle" of a bad tensioner. You are probably hearing the chain hit the cam cover before the tensioner fills with oil and tightens the chain. The chain may also be stretched.

Your engine is on borrowed time - you need to check this out!

__________________
Chuck Taylor
Falls Church VA
'66 200, '66 230SL, '96 SL500. Sold: '81 380SL, '86 300E, '72 250C, '95 C220, 3 '84 280SL's '90 420SEL, '72 280SE, '73 280C, '78 280SE, '70 280SL, '77 450SL, '85 380SL, '87 560SL, '85 380SL, '72 350SL, '96 S500 Coupe