Another newbie

Hi there -

brand new Maverick owner here..new to me I should add. Have had my 2003 Maverick for a few days now and love it - only thing is and I hope someone can help me out here...I've noticed a pin prick hole in the exhaust system, not near the muffler end which is squirting out a fair bit of water with the engine turning over - not sure if this is normal and is a way of releasing some condensation? Any advice on my first day would be very welcome!