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While a man lies in his bed he should also be mindful in Whose Presence he is. As soon as he awakes, he must be mindful of the mercy of HKB"H, in that, He has restored to him his soul of which he had given Him charge when it was weary, and which He restored to Him refreshed and invigorated, so that he may worship Him with all his might, and minister to Him the whole day, for this is the object of every man as it is said: "They are new every morning; great is Your faithfulness" (Eichah 3:23), which means, every morning the man becomes a new creature; and for this he has to thank HKB"H, with all his heart.

While still in his bed, one must say:

"I thank You,
O Living and Eternal King,
because You have graciously restored my soul to me;
great is Your faithfulness"

מוֹדֶה אֲנִי לְפָנֶיךָ
מֶלֶךְ חַי וְקַיָּם
שֶׁהֶחֱזַרְתָּ בִּי נִשְׁמָתִי בְּחֶמְלָה
רַבָּה אֱמוּנָתֶךָ

Modeh (fem. Modah) Ani L’fanecha
Melech Chai V’kayam
Shehechezarta Bi Nishmati B'chemlah
Rabbah Emunatecha

*One may say this prayer although his hands are yet unwashed, since the Name of G-d is not mentioned.
When saying this prayer, it is necessary that one should make a pause between the words "graciously" and "great." (Kitzur Shulchan Aruch, Laws Relating to the Conduct Upon Rising in the Morning)

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Transliteration / Translation:
HKB"H = HaKodesh Baruch Hu - Holy One, Blessed is He
Eichah = Lamentations