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PS3 Update Loop

I got the ps3 update loop of death yesterday (where the update stops at 99% installation and then tries to update every time it turns on). However, I have managed to get it to the point where it can updating using a usb instead. But whenever it finishes preparing to update it shows the new update 4.70 (something whatever the new one is) and then takes me to a user agreement before it can install. The user agreement it takes me to is the one for the 1.4 update. I've gotten this update loop before, and its taken all of my saved data. I really, really don't want that to happen, and I have a feeling that if I agree to the user agreement that I will lose all of my data. Does any one have a solution to this so I don't lose my data?
 
You need to boot your console in safe mode to install via USB? You shouldn't get license agreement if you're doing that.
 

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