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Yamaha Motor won't drop all the way

I've got a 2011 Fundeck 216 with a 150 HP Yamaha 4 stroke.  After trailering it home for the first time, I trimmed down the motor as far as it would go. It stopped before the engine was all the way down.  

I looked at the motor mounts. Nothing seems to be interfering with the motor moving all the way down. Nothing is bent and everything looks like its lining up just fine. Is there something I'm missing?