Water leak below exhaust

I have a 2002 Yamaha 225. While idling yesterday I noticed water coming through a area just below the exhaust port. (See picture) Is this an issue? Looking at the parts schematic, there does not appear to be a gasket in that location.

Unless exhaust gases are getting up into the cowling that is pretty normal ......OPTI

I would want to inspect everything just inside the cowling while running on a hose. Several places can leak. Exhaust cover plate, head gasket, the poppet or it`s hose. Very well could be common but I would check.