Why is buzzer alarm and red light on? How do we fix it?

Has an odor seeps into basement why?

Modad systems are usually found in high water table areas along the coast. The light you are seeing is a trouble light for loss of power or motor. Due to their complexity these types of systems are not DIY friendly so you will most likely need someone to look at it. AS far as odor, you are getting some seal seepage or leaks.