I have not had much luck shining light into the area with the actuator. I can't get that end lifted up much to let me see in. It was filled with oil, but not too gunky. I suspect the chuck was used for dry grinding all of its life.Since yours is a little different, I'd have to see it. Look in there with a flashlight. Admittedly, the first time I did this, it had me scratching my head but once you've done it, the rest are a snap.
Was it filled with gunky oil?
Ray