I assume, the text is just in TEXT BO: If True, just replace text as you desired and remove extra text boxes.
If TEXT is from Parameters/Prompts: You need to write a formula when to break it to next line using some delimeter
If text is from field: Create a formula to split field text according to your requirement using Trim, TrimLeft, TrimRight, Left, Right Functions or other string functions.

It might be possible to do in a formula, but it probably would involve parsing the data and taking out cr/newlines and then putting them back in where you want them (in front of a 'and').  It could become quite complicated.