Inline HTML

I'm in the middle of an horrific project where I'm redesigning a classic ASP website without touching the code, ie sticking to relocating and streamling the HTML only. The previous developer just mixed up ASP code and HTML as needed, so there's a lot of code like this

<tr><td>
<% if x=1 then %>
hello</td></tr>
<%
else
  p = p+1
end if%>
<%=p%>
</td></tr>

It's pretty ugly and often impossible to find where an IF...END IF starts and ends, while making sure inline <TABLE>s etc keep their context aswell. I started indenting everything to try and get some order, but sometimes that looks worse:

<tr>
  <td>
<% 
if x=1 then
%>
    hello
  </td>
</tr>
<%
else
  p = p+1
end if%>
    <%=p%>
  </td>
</tr>

I just can't seem to get any sort of order and was wondering what other people do with code like this, where the HTML is intertwined.