Annex E — Index Annex

Annexed to land rights agreement. Referred to in §2.3 as the unit of account for indexed consideration, and in §2.4 as the renewal formula. On any conflict between this annex and the prose of the deed, this annex prevails.

The unit is the century index — a fixed basket of eight world assets. What is fixed at signing is the set of quantities; what moves is their price. General protocol and basket rationale: century index — that page still documents the collar as the general design; this annex is the CVE-specific implementation and the collar does not apply here (§3). Where the two disagree on the machine itself, this annex governs for any deed under land rights agreement.

1. What the Holder owes

At signing (t₀) the year-0 rent R₀ splits by weight into fixed quantities at the reference prices:

qᵢ = wᵢ · R₀ / Pᵢ(t₀)          R(t) = Σ qᵢ · Pᵢ(t)

The quantities qᵢ never change for the life of this deed, and they travel with the interest on assignment under §2.5.2. The renewal price under §2.4 is L(T) = L₀ · I(T)/I(t₀).

2. Basket and weights

Every price enters as a trailing 365-day average of daily fixes. The index publishes every day of the year; a closed market carries its last fix forward.

3. Machine

S(t) = I(t) / X(t)                              basket priced in bitcoin
floor: R(t) = max( S(t), S₀, F / X(t) )          dual floor, no cap

R(t) tracks the basket uncapped. Conversion into the settlement currency is never capped either: a devaluation of the rupiah flows through in full, which is the point of denominating in the index at all.

The floor has two legs. The sat leg guarantees the Landowner no fewer satoshi than year 0. The fiat leg guarantees the year-0 dollar value. The Holder pays the higher of S(t) and the floor.

4. Quantities — completed at signing

Filled from the 365-day TWAP fixes on the signing date. The figures below are the worked model at R₀ = USD 100,000 per year on indicative fixes of 31 July 2026, kept here so the arithmetic is visible; the executed annex carries the real numbers.

Derived: X(t₀) = $62,626, S₀ = R₀ / X(t₀) = 1.596781 BTC = 159,678,089 sats. F = USD 100,000.

5. Worked invoice

Hypothetical year-1 TWAP fixes: BTC $75,000 · ETH $2,200 · GOLD $4,400 · CU $14,500/t · OIL $85 · U₃O₈ $90/lb · USD/CNY 7.00 · JISDOR 19,000.

1. Mark the quantities to market: I(t₁) = Σ qᵢ · Pᵢ = $108,503.30
2. Price in bitcoin: S(t₁) = 108,503.30 / 75,000 = 1.446711 BTC
3. Apply the floor: max(S(t₁) = 1.446711, S₀ = 1.596781, F / X = 100,000 / 75,000 = 1.333333) = 1.596781 → the sat leg of the floor binds
4. R(t₁) = 1.596781 BTC = 159,678,089 sats
5. Settle: 1.596781 × 75,000 = $119,758.57, converted at JISDOR 19,000 = IDR 2,275,412,830 on the invoice date

The worked example is part of the annex, not an illustration. Where a calculation is disputed, it is the template the parties follow.

6. Review valve

On every fifth anniversary, and only by mutual written consent, the parties may replace at most one leg of at most 10% weight, at the then-current TWAP, value-neutral at the moment of substitution. Silence means no change. Neither party may substitute unilaterally.

7. Open before signature