There are many reasons why you engine could be running hot, if this engine is on a mower, you may be using it to heavily in the heat, your air intake for the flywheel could be clogged with grass, or it could be low on oil, depending what engine it is.
rebuild carb
5w30
It should be at least 70 psi
yes
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briggs and straton, kohler, or kawasaki, depending on the model
dollar bill
The Briggs and Straton Quattro is a 4 HP
SAE 10w30 Full Synthetic.
100 inch/pounds
sae-30 non-detergent
0.020