Rad,
I have a question pal.
Are you replacing the motor mounts with an exact replacement? Will the mounting holes match? What is the condition of the old holes? Are the threads intact? Is the hole dry with no evidence of water intrusion?
If unsure or if using different mount replacements & the hole spacing is different, make sure you have enough wood between the existing holes & the new holes. Say you have to drill new holes, if a 5/16" pilot hole needs to be drilled, hopefully you will have 5/16" wood between the edges of the holes. There is a rule of thumb that the minimum space can be half that @ 5/32" but because of torque forces pulling up on one side & pushing down on the other side, hopefully, you won't have to go that small.
Also, the exist. holes need be dry wood if reusing them. If not, this would need to be repaired first. Just make sure of the conditions first.
And yes, I would use S.S. lags. The guys nailed it here about caulking, flat & lockwashers.
CR