In the diagram - float is #20 and float valve is #17. Float valve has needle attached to float (little tab that can be bent a little to adjust level). It is important to verify that the needle has rubber tip that is not worn out or damaged. The valve works similar to valve in toilet tank. Once fuel reached predetermined level it closes float valve. Fuel level is important and affects all circuits in the carburetor. Too low or too high will cause bike to run poor (too lean or flood). Looks like yours ids not closing when it should. Check:
- float condition (cracks) causing float to sink deeper than designed
- float valve needle and seat (wear or gunk)
- correct level adjustment (the tab on the float where needle attaches)
- oring around seat (top item #17) - needle might be closing but fuel leaking in around seat.
Level adjustment (picture kinda sucks but you may be able to decipher):
https://www.manualslib.com/manual/10...age=111#manual