CICS statements in the body of an IF statement

Good afternoon, I am analyzing some legacy code in COBOL and have found this case specific case that I can't wrap my head around.

000610     IF EIBCALEN = 0                                              00061011
000700     EXEC CICS                                                    00070000
000800          SEND MAP('TCHM144')                                     00080007
001100     END-EXEC.                                                    00110000
001110     ELSE                                                         00111013
001111        IF EIBAID = DFHCLEAR OR DFHPF2 OR DFHPF3                  00111113
001112        EXEC CICS SEND FROM(WS-CHAR)                              00111213
001113                       LENGTH(LENGTH OF WS-CHAR)                  00111313
001114                       ERASE                                      00111413
001115                       END-EXEC.                                  00111513
001116        EXEC CICS RETURN END-EXEC.                                00111613
001120*         MAPONLY ERASE FREEKB                                    00112002
001200     EXEC CICS                                                    00120000
001300          RETURN TRANSID('TCE4')                                  00130000
001400     END-EXEC.                                                    00140000
001500     GOBACK.                                                      00150012

From what I recall having a period in the body of the IF statement closes the sentence up to the IF at the highest level but, in this case the END-EXEC contained in the IF's body is followed by a period which, following the above mentioned logic would close the sentence and the ELSE would not be referred to any IF. Am I correct or is there a specific case where this would work? Thank you.