Mike, as I mentioned earlier, I think I got water into the control valve area while rinsing off the tractor. I don't see how condensation would be the culprit since this part is no different than anywhere else on the tractor. This part is actually pretty protected except from blowing rain. ...but yes, I do keep my tractor outside...and so do most dealers on their lots for months and months. I just believe since the cover has no gasket, it's easy to get water inside while rinsing or washing the tractor. I think my caulking will be okay since it drys spongy. If any pressure is inside the assembly, it will blow the caulking out of the small drain hole.