Hello again, this is the update I promised. I couldn't stand to wait any longer so with heart pounding and contract in hand I went to the agents office and asked to speak to the Principle of the agency. I explained that we no longer wanted our property on the market, even adding that originally we wanted to list privately but went with them because a property came up that we were keen on (listed with them) at the time and thought it would be simpler this way.
Then I asked him if were to sell privately in the future would we be liable for the fee, even to someone they introduced, he simply said "no, once the Selling Agency Agreement term was up they didnt come after the fee later". " we don't operate like that" he said.
Keep in mind, this is a small town and word of mouth is well used. Nice guy, so I will tell people that.
I still wish I had recorded the conversation.
What I've learnt from this is, NEVER sign a contract/agreement without taking it home and reading the entire thing. Several times over. Also, a contract is not a one way agreement. ( some people, including us forget this) If you don't like what you see in the contract, then come to an "Agreement" on what is a good compromise and re-write it.
And finally just ask them if you're still unsure.