UPDATE:
Went outside today and perform some inspections:
1. Pulled Carb off, Inspected Gaskets, Choke and Governer Funtioning. All checked out.
2. Pulled the Valve Cover off and everything looked normal. No Sludge and smooth oil. Air tube from Carb is a bit cracked but nothing major at this point. May replace in future due to age.
3. Found the Throttle adjustment Nut. (was hidden between the Starter coil and bottom of Fuel Tank. Tight but manageable.
4. Pulled the Spark Plug, Was COVERED in Carbon. I was told that it was replaced. Replaced the Spark Plug
5. I spected Plug Wire and it was fine.
5. Pulled Fuel Filter and replaced it.
The Spark plug was fouling out. Must have been old. Replacement Plug and Fuel Filter with Throttle Adjustment and She Purs like a Kitten Now! Before Adjusting the Throttle I let her warm up a bit, Then Plugged in a light and Tested the Voltage and it was already mroe stable. But , it was only topping out at about 114.5v -115v. So I adjusted the throttl a bit and It's stable at about 120v.
So just wanted to say Thank You fro all of the Suggestions! No Worries of Destroying my Refridgerator Motor now when the power goes. Since my wife and I moved in, in Jan. 2007 I've counted the power outtages and they are Currently at 45 outtages that range from a Cut off and then Back on to the Longest outtage which was just under 12 hours. So nothing Crazy except the frequency of them...
So this guy is a happy Camper for now!