I'm hoping that you guys will be able to help me out. I have a Sanyo generator that goes in front of the rear wheel and it hasn't been used in a few years. I put it on the bike and noticed that it worked great for about 100ft then a high pitched screeching noise almost like a metal on metal grinding started. When that noise came on the light would shut off. Im guessing something in there is sticking but I'm wondering if I can possibly put some grease or some sort of lubrication in there to fix it?

The part in question