Water in the nose...

After a rainstorm (even with the fancy outdoor breathable car cover on),
water collects in the nose of the bonnet on my '77. When I open the
bonnet, rusty water pours out (sometimes on my head).

How might it be getting in, and how can I keep it out? I'm a little
annoyed as it's just been painted less than a year ago, and already it
looks like I'll have to do some stripping/fixing.

Any advice?

-=Chris

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