If you are wanting to edit the text, you’ll need to log in as the ADMIN to the portal wanted. Access the Admin tab, and choose the Languages option. The content area of this page is title ‘Custom Portal Locale’. Expand the Local Resources folder. This will bring up the various folders and files that can be edited for localized content. Now, you can pick the desired file you want to change.

For example, to change the Terms of Use text, expand the Portals folder, then expand the Admin folder, and once again expand to the App_LocalResources folder. Under this folder, click on the Terms.ascx file. The screen will refresh, bringing up the elements of the file, which you can edit for the desired language resource you need. To change the text of the ‘Terms of Use’, you can click the edit icon (grey angle arrow icon, just to the upper right), which will bring up the Language Editor. A message box displays, but since you didn’t make any changes yet, just click ‘OK’ to get the actual Language Editor to open.

Now, the text is displayed, and you can scroll down to the FTB editor to make your changes. Click the ‘Update’ command link to save your changes. You may need to refresh your screen to see the Langauges page. Now, check your changes by just scrolling down to the footer area of the page and click on the ‘Terms of Use’ object. Your new text should be visible.

Source: http://www.hgworks.com/Default.aspx?tabid=84&calDate=12|22|2004#10