Hint Derek!
Silicone attracts moisture big time! Ever see people put it around windshields to stop them from leaking and the next year the whole window falls in? It's from the use of silicone. Use something else like urethane to fit the rubber back up there after you fix the rust. Also let the paint and primer "breathe" out for a couple weeks before you lock the vapors in with a sealant.
95 E34 530I V2.37
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Those who make peaceful revolution impossible will make violent revolution inevitable.
John F. Kennedy