As a consultant I've questioned contracts in similar ways. The basic terms ("you make something for us, we pay you, we get the IP") are fine but dangerously broad blood-of-your-firstborn-type small print is not uncommon. Freelancers in other disciplines (e.g. media) have less bargaining power so often get treated a lot worse, and many companies try to enforce a generic shitty contract upon anyone they pay by the day.

I find that whether they'll listen to concerns is one way to tell good clients from bad. In some organisations people often reply "I'm not allowed to negotiate, take it or leave it" and you have to ask yourself "would I enjoy working for people with that attitude?"

The contract even says inside that for it that to be valid the signer has to have been given the ability to ask questions about it (section 11.5).