Always check the owner's manual before choosing lubricants for any treadmill. Treadmills could be designed to use either wax-based or silicone-based belt lube. Low maintenance treadmills could even be damaged by unnecessary lubrication. Watch the following video to know how to iol your treadmill.
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Their is a sensor within the incline motor casing that may not be functioning
thus causing the motor to repeat the cycle. You will most likely need to replace
the incline motor.
With the motor being new and the "hot electrical" smell, I would say the motor control board, which sends the speed command to the motor, would most likely be your issue.
1) Tess by RUN the sofware calibration for easy diagnose, troubleshooting and fix it.2) adjust the speed sensor, test for open or faulty, clean it and tight the plug very well. see the diagram attached.3) Test the inclination motor for overheating Try to LUBE4) Lube the deck belt according with the schedule maintenance.God bless you