Simplify the following text for a Grade 3 native English-speaking person.
Original: He makes a bargain with Faust : Mephistopheles will serve Faust with his magic powers for a term of years , but at the end of the term , the devil will claim Faust 's soul and Faust will be eternally damned .
Simplified: In return , the Devil says , Faust must give him his soul . Faust agrees , and the Devil lets Faust have a wonderful time , but in the end Faust has to go to Hell .