Your perpetual license already includes the first 12 months of updates. This adds a recurring yearly updates subscription so new builds keep coming after that — cancel anytime. The desk keeps working forever either way.
License $3,299 (includes year 1 of updates) + start yearly renewal $699 = $3,998 today. Next renewal charge ~12 months later — cancel anytime.
Your perpetual license already includes the first 12 months of updates. The subscription keeps new builds coming after that.