The way I understood this piece is that once grace is lost then love too.

I think this last line:

"Once lost grace's lost too"

I think it needs a comma after "Once lost, grace's lost too".

Or re-arrange it in other way.. Once lost, grace is too..

I'm not sure, I'm just a bit confuse on the wording on that last line.

But true, once love is lost the grace is lost too.