Honda BF35A-BF45A Outboard Motors Shop Manual., Page 414Get this manual
2) Apply ATF to new O-ring, and install it on the valve
63) Apply ATF to the valve and install the valve in the valve body noting the installation direction
4) Apply ATF to new O-ring, and install it on the sleeve
[VALVE[2] SLEEVE
5) Set the new backup ring on the spool valve and apply ATF to the outer surface of the spool valve6) Install the spool valve in the sleeve noting the installation direction
7) Apply ATF to the sleeve, and install the sleeve in the valve body noting the installation direction