The stanza begins with a plea for goodness. The NASB says, "Deal bountifully with your servant." This is a cry for not just existence, but for full life. The kind of life that Jesus promised when he said, "I have come that they might have life, and have it to the full" (NIV). This verse demonstrates a joy in finding one's purpose in serving God.
"Be good to your servant." That's a simple prayer that I should pray often.