We're sorry to see you go! But of course you can cancel whenever you want without penalty.
The easiest way to cancel is simply to log into your account on www.indiemade.com and select "Cancel site" next to the site you no longer want. We'll take down your site and cancel your PayPal subscription for you. But you can also cancel by visiting your PayPal account and stopping the flow of funds from there.
Note that in both cases, your site will be taken down immediately upon cancellation. We do not offer pro-rated refunds on the unused portions of subscriptions -- sorry.