Mercury F5AZ-2V130-ARM Caliper With Pads

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Clean the caliper's exterior with brake system cleaner, use compressed air (with precautions) to remove the piston from the caliper, and separate the caliper from the steering knuckle or torque plate.

To overhaul the rear calipers for 1975 through 1990 Continental and Mark series and 1981 through 1988 Town Car, start by raising the vehicle and supporting it securely on jackstands. Remove the rear wheels and disconnect the parking brake cable at the lever. Disconnect the brake hose and plug the end. Remove the calipers, and if necessary, loosen the caliper and retainer to force the piston back into its bore. Clean and inspect the caliper, anchor plate, and disc for corrosion, wear, and fluid leakage. Reinstall the brake pads and caliper, adjusting the piston as needed. Connect and adjust the parking brake cable, install the wheels, and take the vehicle for a test drive to check for proper braking action.

It's advisable to explore alternatives, such as obtaining new or factory-rebuilt calipers on an exchange basis, which can simplify the process.