That engine has wet sleeves and there's LOTS of things that can cause coolant to wind up in the "basement".
Could be a bad head gasket, cracked or warped head, leaky sleeve "O" rings, cracked block, leaky/pitted sleeves, and probably a couple of other things I've forgotten to mention.
You could pull the oil pan and see where the water is coming down from (to see if the sleeve "O" rings are leaking or the sleeves themselves), or perhaps pull the head first and take a good look at the gasket as well as have the head checked over at an automotive machine shop.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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