as you stand in front of car-----
look to the upper radiator hose on right side- follow it to the engine. the place where it connects is the water outlet and the thermostat is under that. it appears by the diagram and labor time that a few things may need to be removed to access the bolts to remove it. be sure to "burp the system", that is make sure no air is in system or the car will overheat. good luck!
That may be true for the 2.2, but, not the 2.4.
Just changed the water outlet on my 97 2.4, and the thermostat is not located within that housing.
However, it is stamped on the housing where the thermostat is located, "thermostat located on water pump."
It would be nice if it was located in an easily accessible place like the top of the engine, however it's on the bottom passenger side of the engine.