You're looking at removing the lock nut (10)... but don't just back it off a bit. Another thing you could try is backing it off some while at the lowest idle possible, then tightening it again. Try shooting some WD-40 around the bolt, might help if the spring etc is stuck (?)
but then again, these bikes have effing terrible cam chain adjusters and chains, so either could be worn beyond any kind of servicing.
I'm having the same problems with mine, except I can get mine tight to the point of relatively little noise, but it's loud again after riding 20 mi. P