Real Estate Law
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While legally you are bound by the terms of the contract, review if it has a termination clause. If not, you should notify them first thing in the morning that you do not wish to proceed. They will likely balk but they will have a hard time filing in court for breach of contract since they did not actually do any work for which they should be compensated. In order to avoid some sort of court action, you might want to consider perhaps a $100 fee for their trouble and to ask them to release you.
Texas law requires that the following be in construction contracts. "Important Notice: You and your contractor are responsible for meeting the terms and conditions of this contract. If you sign this contract and you fail to meet the terms and conditions of this contract, you may lose your legal ownership rights in your home. Know your rights and duties under the law."
If it is not, you can argue that this contract is not valid as it does not comply with Texas law.
Here is some additional helpful information if they refuse to release you...http://www.construction-contract.net/list.php?state=TX