The belt under the "24V DOHC" plastic cover drives the water pump via the bank 2 exhaust cam. There is (obviously) an oil seal where the shaft comes out of the head. Never personally heard of this seal leaking, but any oil seal can leak.
05 Taurus SEL Duratec - my daily driver
04 Taurus SES Duratec - wifes car
95 Taurus GL Vulcan winter car
Toy #1 - 86 Tbird 5.0 (original owner) - LOTS of mods
Toy #2 - 88 Tbird Turbo Coupe - LOTS of mods
02 Pontiac Grand Prix GT
67 Honda 450 Super Sport - completely customized