(a) On an executory contract entered into before September 1, 2001 , a purchaser may pledge the interest in the property, which accrues pursuant to § 5.066, only to obtain a loan for improving the safety of the property or any improvements on the property.
(b) Loans that improve the safety of the property and improvements on the property include loans for:
(1) improving or connecting a residence to water service;
(2) improving or connecting a residence to a wastewater system;
(3) building or improving a septic system;
(4) structural improvements in the residence; and
(5) improved fire protection.