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The sensor cost $36.99 at Autozone. The Ford name for the part is "Manual lever position sensor" but Autozone uses the name "neutral safety switch" in their catalog.
Included in the package will be a kit that includes the updated sensor, connector and rubber seal. The wires from the old connector have to be transferred over to the new connector. The wires are held onto the connector with clips. Use a small screwdriver, to release them. take care not to mix those wires up.
An adjustment tool is not needed. Just put the tranny in neutral and line up the mark with "cl N"on the sensor.
Many have reported problems with this sensor without setting a trouble code.