Psalm 119:73-80 (New International Version)
73 Your hands made me and formed me;
give me understanding to learn your commands.
74 May those who fear you rejoice when they see me,
for I have put my hope in your word.
75 I know, O LORD, that your laws are righteous,
and in faithfulness you have afflicted me.
76 May your unfailing love be my comfort,
according to your promise to your servant.
77 Let your compassion come to me that I may live,
for your law is my delight.
78 May the arrogant be put to shame for wronging me without cause;
but I will meditate on your precepts.
79 May those who fear you turn to me,
those who understand your statutes.
80 May my heart be blameless toward your decrees,
that I may not be put to shame.
Healthy fear of God is a good thing for you. Realizing that their is a Supreme Being that could end it all for you in any moment, gives you a healthy appreciation for Him. The best earthly pattern for this is a loving Father. As children you know your Dad loves you and you love and respect your Dad, but you also know, usually from experience, that if you disobey him, you will suffer the consequences. That doesn't mean that the love is no longer there, it just means that you know that not matter what he will love you, but you will get "correction" if you deserve it.
Our priest appeals to those who "fear" God to look to him and his example of how to follow God. He points out that the word of God is the guidance that is needed to have a healthy understanding and respect for God. God loves us, and He has given us His word for us to learn about Hid nature. We are fortunate that God is not a vengeful God, seeking justice for wrongdoing, no matter what. If so, we would all have perished long ago.
Our God has compassion and mercy for those who love, respect, and "fear" Him. He not only wants us to know that we need to be obedient to Him and follow His ways, but He also hopes that we will see examples of His love in those who follow Him and call on Him. We can be assured that our fear of Him will translate into our salvation, because in His love He has provided everything for our good.
Psalm 119 is a devotional poem from a very pious priest. This is the only psalm in The Psalms written by this author. This psalm is an acrostic poem; the verses of each stanza begin with the same letter of the Hebrew alphabet. This Israelite priest sought to pass on godly instruction in his devotional study of the word of God.