Hi,
It sounds like you have a few different issues. Did the vehicle run properly for the test drive?
As far as the running/power loss, I need you to check for diagnostic trouble codes. Here is a link that shows how it's done. You don't need a scan tool to retrieve codes.
https://www.2carpros.com/articles/ford-lincoln-mercury-obd1-1995-and-earlier-diagnostic-trouble-code-definition-and-retrieval
Now, the water pump. To get you started, here is a link that shows in general how it is done:
https://www.2carpros.com/articles/water-pump-replacement
If you look at the attachments below, they are the directions specific to your vehicle for the replacement of the water pump. As far as the fan, yes it will need removed and reinstalled on the new pump. This will require a special tool that holds the fan clutch while loosening the nut retaining the clutch to the pump/pulley. However, most parts stores will lend you the tool to do it. Pic 3 below shows what the special tools look like.
Let me know what you find and if this helps.
Take care,
Joe
See pics below.
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Wednesday, September 22nd, 2021 AT 7:07 PM