MailUp module adds a new section in registration page (see picture below).
New users can subscribe to one or more newsletters (i.e. one or more lists) and they are allowed to change their choices later through the "my account" page.
Text for "terms of service" can be edited by administrator in configuration page. Terms of service and acceptance check box appear when at least one MailUp list is set to be shown in registration menu. When visible, acceptance of terms of service (i.e. "I agree" check box) is mandatory.