So your three point only has all the way up or all the way down. In otherwords if you move the lever to some midpoint position, the hitch still goes all the way up (or down if that is the way you last moved the lever)
If the load shaft was removed to fix leaks,(common to do) the cam feed back roller may have snapped out of the feed back link. The hitch will not stop in mid range since there isn't any feedback for rockshaft position.
The slowly leaking down could be due to the thermal relief, raise/lower balls not seating, or rockshaft piston packing leaking.
Can't remember if the 4020 had a surge valve or not. It's ball could be not seating properly.
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