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12. TRANSITIONAL PERIOD: A. There shall be a transitional period from termination of the Terminated Program, which will occur on or about November 4, 2022 to full implementation of the Program, which is scheduled to occur on or about March 24, 2023 (the "Transitional Period"). The Parties agree that if the Licensee is issued an Outdoor Business Activity Permit on or before October 31, 2022, the Licensee may be allowed to temporarily retain its approved outdoor business activity setups under the Terminated Program during the Transitional Period while the Licensee constructs the authorized Improvements as approved by the Licensee's Encroachment Permit and this License Agreement. B. The Transitional Period shall terminate on March 24, 2023, by which time the Licensee agrees to remove the set up for outdoor business activity pursuant to the Terminated Program, unless otherwise authorized to remain in place as part of the Outdoor Business Activity authorized under the Program through the Licensee's Encroachment Permit. 13. TAXES. The Licensee agrees to pay all real property taxes and assessments (whether general or special), if any, which may be levied against the Licensed Area, including any Improvements located on the Licensed Area, during the term of this License Agreement. 14. ASSIGNMENT; SUBLETTING: The Licensee may not, either voluntarily or involuntarily, assign, sublet, transfer, hypothecate or encumber all or any part of its interest in this License Agreement or the Licensed Area or any Improvements. 15. NOTICES. Except as otherwise required by law, notices desired or required to be given by this License Agreement may be given by enclosing the same in a sealed envelope addressed to the party for whom intended and sent by commercial delivery service or by depositing such envelope, with postage prepaid, in the United States Post Office or any substation thereof, or any public letter box, and any such notice and the envelope containing the same shall be addressed to the Lessor at City: City of Redwood City City of Redwood City ATTN: City Manager Subject: Outdoor Business Activity 1017 Middlefield Rd Redwood City, CA 94063 or such other place as may hereinafter be designated in writing by the City, and the notices and envelopes containing the same to the Licensee shall be addressed to: Licensee: TW Bay, Inc. 2644 Broadway Redwood City, CA 94063 (650) 483-8881 tonia_yeh@msn.com REV: 05-09-24 VR ATTY/AGR.2024.062/Crouching Tiger (2664 Broadway) (Page 8 of 26)