OTT, J.
The Housing Authority of the city of Seattle (hereinafter referred to as the authority) entered into a "1939 Cooperation Agreement" with the city of Seattle hereinafter referred to as the city) to construct two low rent housing projects referred to as Wash. 1-1 and Wash. 1-5, commonly called Yesler Terrace and Yesler Terrace Addition. The agreement provided, inter alia:
"The City further agrees that during the period commencing with the date...
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