You can use Enterprise Manager to create your script. Right click on the table in EM and select Design. Uncheck the Allow Nulls column for the Text field. Instead of hitting the regular save icon (the floppy), click an icon that looks like a golden scroll with a tiny floppy or just do Table Designer > Generate Change Script from the menu. Save the script to a file so you can reuse it. Here is a sample script:
/* To prevent any potential data loss issues, you should review this script in detail before running it outside the context of the database designer.*/
BEGIN TRANSACTION
SET QUOTED_IDENTIFIER ON
SET ARITHABORT ON
SET NUMERIC_ROUNDABORT OFF
SET CONCAT_NULL_YIELDS_NULL ON
SET ANSI_NULLS ON
SET ANSI_PADDING ON
SET ANSI_WARNINGS ON
COMMIT
BEGIN TRANSACTION
GO
CREATE TABLE dbo.Tmp_TestTable
(
tableKey int NOT NULL,
Description varchar(50) NOT NULL,
TextData text NOT NULL
) ON [PRIMARY]
TEXTIMAGE_ON [PRIMARY]
GO
IF EXISTS(SELECT * FROM dbo.TestTable)
EXEC('INSERT INTO dbo.Tmp_TestTable (tableKey, Description, TextData)
SELECT tableKey, Description, TextData FROM dbo.TestTable WITH (HOLDLOCK TABLOCKX)')
GO
DROP TABLE dbo.TestTable
GO
EXECUTE sp_rename N'dbo.Tmp_TestTable', N'TestTable', 'OBJECT'
GO
ALTER TABLE dbo.TestTable ADD CONSTRAINT
PK_TestTable PRIMARY KEY CLUSTERED
(
tableKey
) ON [PRIMARY]
GO
COMMIT