Well, a custom-built CMS should be paid for of course.
If you need the developer to make ammendments, then yes, why wouldn't they charge? Work takes time and time is money. If the CMS is just so crap that you can't make any adjustments yourself, then reconsider the developer's offer. Shop around.
An annual fee should really only be paid if you think the CMS is worth it, that is, if it's better than any free/open source CMS. That should include regular software updates and tech support when you need it.
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Subtlety is my middle name... and first and last in case you didn't get the point.
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