I'm strongly in favour of "expanding" all repeated music in a stage management score (as explained by Babens and Lizzie) so that it is an accurate linear map of the music. In the case of your example, copy the music notation for every instance of a repeat, and perhaps strike out the lyrics that are not being sung for the specific section. If that doesn't appeal to you, I have sometimes chosen not to expand smaller repeats, but will follow a convention where cues marked above the musical notation are called the first time through, cues marked underneath are called the second time through.
If you expand repeats (da capos, codas, etc.), have a conversation with your music director so that you know how they will talk about navigating the music in rehearsal; bar numbers, 'first time' or 'second time' through, etc.
On a related topic, I know that following/relying on lyrics can be dangerous, as performers can occasionally skip to a different verse, but the musicians are not likely to adapt to unintentional spontaneous cuts. I think that having repeats expanded in your score is safer.