Shell Programming and Scripting

I have a control file which looks like this

LOAD DATA
INFILE '/array/data/data_Finished_T5_col_change/home/oracle/emp.dat'
PRESERVE BLANKS
INTO TABLE SCOTT.EMP
FIELDS TERMINATED BY '|' OPTIONALLY ENCLOSED BY '"' TRAILING NULLCOLS
(.................
..................)

How can i edit the 5th line to:

FIELDS TERMINATED BY '|'

I want to get rid of

OPTIONALLY ENCLOSED BY '"' TRAILING NULLCOLS

i prefer sed for this

Thanks

Code:

sed -i 's/ OPTIONALLY E.*//' controlfile