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You can use the third wire to operate the ALT light (some have the light and Amp gage). You can use this wire to power the electric choke (only provides power with the engine running). Or just abandon it.
Your welcome! One more point. You can rotate the two halfs of the alternator to locate the plug away from the engine block. Dont pull it all the way apart! Just take out the bolts and rotate the halfs until the bolt holes line up with the plug where you want it!