Praise him, ye servants of Yahwe,
Ye who stand in the house of Yahwe,
In the courts of the house of our God.
But then verses 3 and 4 are two little hymns in themselves:
Praise Yahwe; for Yahwe is good.
Sing praises unto him, for he is gracious,
For Yahwe hath chosen Jacob for himself,
And Israel is his treasure.
With verse 5 one would expect a renewed call to praise, as for example:
Praise Yahwe for Yahwe is great,