Of course! You can do that directly from the app's dashboard panel.
Go to your store's admin dashboard (https://your-store.myshopify.com/admin)/
Go to the "Apps" section:
3. Choose "Terms and Conditions Checkbox" from the apps list:
4. In the Terms and Conditions Checkbox dashboard page, set the Checkbox Type field to Custom Design (Rich Text Editor). Then, write your terms and conditions text in the field underneath. Mark the text you want to make a hyperlink and click on the link button. You can create as many hyperlinks as you want!
5. Click on the Save button in the top right corner of the dashboard.
You're done! :-)