Common issue.
If you remove the lock nuts, you can try and lever the arm off the shaft with 2 large screw drivers. The shaft has a key in it, so don't do what i initially did and took the whole plate off and tried knocking it out in a vice, it kinda stuffed it.
Either way..... Remove those parts, remove the key, remove the aluminium or plastic bushing (depends on the year). remove the O ring and take it to a seal shop and they will match it, it's only a few cent part. Grease it up and re-install. Put the other goodies back on.
Now, the 2 lock nuts. Tighten them up so the arm is firm, but not binding up. You want it to not wiggle side to side.
It's a pretty simple repair, the hardest part is getting the arm off the shaft. If it's rusted, it's so much worse.