I agree with Danno, it's highly likely that a lot of water condensated over 15 years. I'm willing to bet the hg is fine, but I would put a few drops of Mystery oil through the sparkplug holes and turn the engine over by hand. Dump the old oil/water first of course, and plan to do a full flush/run/repeat on the crankcase oil and coolant a couple times before you really try to run it. Expect to replace a lot of rubber coolant and fuel lines too.
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