My faucet (which wasn't easy to identify, it just says CL 150 SERIES with a triangle underneath it) was dripping like crazy, both around the stem and out of the normal hole when it was turned off. Not surprisingly, the leak was due to worn rubber parts - seals around the stem and seats at the base of the ball valve. Watch a YouTube video on how to fix it, but the entire fix can be done in about 10 minutes depending on how dirty things are inside. I replaced the rubber parts and the faucet is like new.
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