Well, I am just going to assume that it is the motor that needs replacing. I really wanted to know if the motor could be fixed or if could be the control board that needed replacing, before investing into this treadmill. These parts, motor and control board, go for about $500 to replace. It just might not be worth it for an equipment that costs about $1,200 new and is already about 8 years old. Anyway, besides trying to save a few $ by maybe fixing the motor, I also had the intention of learning from all the feedback and this certainly was accomplished.
Sorry if this has carried out for so long. It has been very informative from me and I have learned a lot from all your comments. Hopefully someone else will also benefit from this thread being in the forum archives.
Thank you all.