Can someone help me indetify this piece

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I agree, and you would be lucky if you don't have more damage. Maybe the
prior owner replaced all the front engine parts and left the weight in the
pan. There are 4 of these and they are a weak item. If they break off,
the timing chain and front cover could be broken.
 

Great thanks for the reply. I kind of thought the same thing about more damage. I have used this tractor for a couple years. I dont know how long its been broken off. Moving forward: is this a piece that needs to be replaced before using it again, Is it detremental to the operation of the engine.

Ive never really done much mechanical work before so im not sure how all these things work together.
 
I would pull the front engine cover and see if someone replaced the governor and left the old parts in the pan. If you still have the old broken governor in there, I would replace it before more of it comes apart. The replacement governors are a ball type and look different than the old style parts you found. FYI the Z120 engine in the TO20 doesn't have a timing chain, just timing gears.

Dan
Ferguson TO20 Governor Assembly
 

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