Do points have to be maintained until PR is approved?

I'm looking into HSP and had a question since the PR processing times seem to be a year or more.

– If you have >80 points for a year and apply for a PR, but turn 35 before the PR is approved or change jobs and your points fall below 80, will it get denied?

– If not, let's say that you maintain 70 points for almost 3 years but turned 35 like a month or two before the 3 years. Does it make you ineligible to apply?