Republic of the Philippines ]

City of Tagbilaran ] S.S.

AFFIDAVIT OF UNDERTAKING

I, JAIME A. CASIL, Filipino, of legal age, married and a resident of Tabajan, Guindulman,
Bohol, after being sworn in accordance with law, hereby depose and say:

1. That I am the registered owner of the Business Name “BLUE STAR DIVE RESORT” with
principal business address at Sitio Ipo, Candabong, Anda, Bohol which is duly registered with the
Department of Trade and Industry (DTI), Bohol Field Office, Tagbilaran City on June 10, 2009 under
Certificate No. 00774106 and valid until June 10, 2014;

2. That the said business name is tied up to another person by virtue of the Memorandum of
Agreement, dated June 4, 2009 which was entered in the Notarial Registry of Atty. Reynard D.
Namocatcat, Notary Public, as Doc. No. 77, Page No. 17, Book No. IX, Series of 2009;

3. That the said Memorandum of Agreement is effective only up to October 31, 2010 after which,
the same loses its effectivity;

4. That by virtue of these presents, I hereby assure and undertake to transfer the ownership and
registration of the Business Name “BLUE STAR DIVE RESORT” in favor of its former owner, MARY
ANN PILOTON CABANG, Filipino, of legal age, and a resident of Sitio Ipo, Candabong, Anda, Bohol
after the expiration of the said Memorandum of Agreement on October 31, 2010;

5. That I execute this affidavit freely and voluntarily to attest to the truth of the foregoing
statements for whatever legal purpose this may serve.

IN WITNESS WHEREOF, I have hereunto set my hand this 18 th day of November 2009 at
Tagbilaran City, Bohol, Philippines.

JAIME A. CASIL
Affiant

SUBSCRIBED AND SWORN to before me this November 18, 2009 at Tagbilaran City, Bohol,
Philippines, affiant with his PhilHealth Identification Card No. 12-200596583-5 and BFAR ID No. 310
(Fish Warden), and I hereby certify that the affiant understood the contents hereof.

Atty. REYNARD D. NAMOCATCAT

Doc. No. _____; Notary Public until December 31, 2009
Page No. _____; PTR No. TAG0150403, 1-5-09; IBP No. 711227, 12-24-08
Book No. ____; Attorney’s Roll No. 47939
Series of 2009. TIN 918-97-5668