Yep that's the fan.
Download and run Speedfan click here;1
to monitor temps. You should be 50-60 deg C at idle.
My fan on my (HP) Compaq CQ61-320SA was noisy from about 3 months old. I couldn't believe it was bearing or dust. I could also cure it by a sharp finger tap near Esc key. Sometimes it would be fine for weeks.
I decided I would get it fixed before warranty ran out. But I broke my screen before that so therefore invalidated my warranty by replacing it myself.
3 days ago my machine failed to boot from HDD or various recovery discs (I have quite a selection)
But I did get it into Windows once and Speedfan reported 90+degC.
Disassembly is quite a big job (don't do it without a Service Maintenance pdf or on-line instructions) but is possible if you are competent.
My fan is the most inaccessible part. When I had got some covers off I could see it wasn't spinning and it felt 'stiff'
When I got the whole lot apart, I was convinced I would nead a new one (custom unit) but I did manage to separate then the blades from the motor coil assembly. I wasn't worried about breaking it by this stage.
4 teeny M1 screws holding a metal plate onto curved housing. Remove with Philips #0 screwdriver
Lift and peel label off to reveal possible lubrication 'quadrants'. No use to me.
Other side I used my fingers to pull the blades and body and sort of levered it off the shaft.
Lucky there was no circlip holding it on shaft, I hate those things.
Minimal dust no obvious sign of problem.
Still convince I needed new fan.
Slipped the blade assy back on axis and it was free! Spun with fingers easily and as coming to rest it jiggled back and forth with the magnets.
Connected Motherboard power cable and ON/Off switch cable. Powered up and it was fine.
All I can think is the whole blade assy was rubbing against curved assy. (not the blade tips catching/rubbing)
Couldn't find my 3 in 1 oil so shaft got a smear of vegetable oil (do not use WD-40)
Then a single drop from the other end down the 'quadrants'.
I think I know why it was also noisy in the first place. My curved assembly rests on the edge of the motherboard and was not fixed at all to it except by the copper heat sink thing.
So it was free to flap around/vibrate. Hence my 'tapping' could cure it.
I superglued the edges so that fan housing is now glued to motherboard.
All back together. And all is hunky dory. Took me all afternoon though.
Mark cable and connectors with an indelible pen as you take apart. Although I couldn't have got any of mine wrong as it happens.
Take frequent static precautions every few minutes and after moving around.
I stick a screwdriver in the earth of a 3 pin socket. Do be sure you know which one that is of course.