Squirt some lube up there?
There are two bolts that hold down an L shape metal rod that your hood latch secures to. The L shape peice is secured to a support peice that reinforces the grille as well. That piece is held down by four big 1/2" bolts to the grill and front frame support. Also, if you have a metal Mustang in your grille there will be three small nuts attached as well.
You could try to take off the latch from the hood or jack the car up to get a better view. I would go with some kind of spray lube though.