Congratulations. Figuring out that sort of thing can be the highlight of a Thursday or week.
That is the formerly (maybe currently) preferred method to achieve the end result.
I spent time trying to create html output that required the same process, then repeated, then repeated to create the final html documents.
Lots of time spent figuring it out and it never was implemented. sigh
Just as an alternative to creating another field, you could always use Merge Fields instead.
In Layout mode, create a text box and start entering your data, then whenever you want record data go to Insert / Merge Field... and select the field you want at that particular point in your text. It will be inserted between double brackets (<< >>) into your text. Continue writing until the next merge field is needed, etc. You also can just type the whole thing by manually typing the brackets and fieldnames if you want to do it that way (that's my preference).:
I, <<name>>, of <<company>> do have full knowledge...
In Browse Mode, this will resolve to:
I, Ben Bernanke, of The Federal Reserve do have knowledge...
It's also a bit easier to handle bolding, italicizing and that sort of thing in your manually entered text rather than having to do this programmatically inside your calc (which you can do if you want to with TextStyleAdd from the Text formatting functions when creating your calc, but the calc can get much more complex than just doing it on the layout as I have specified -- your choice).