John Deere 1020 pto losing power

I have a 1974 John Deere 1020 diesel tractor. When I turn the pto on, it starts but then loses power. It will not turn the bushhog. The lift works good. What could be the problem?

I'm not sure where to start. Any advice?
 
If independent. When was the last time the hydraulic oil filter was changed and the screen cleaned ?
Two stage does have an adjustment on the dry clutch.
When was the last time the clutch was greased ?
Btw the last 1020 was built long before 1974.
 

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