I like @JohnKugelman's approach, but it can be improved: use colon and quote as the field separators:
while IFS=':"' read -ra fields; do
case ${fields[0]} in
AGE) age=${fields[1]} ;;
NAME) [[ ${fields[1]} == "2,0," ]] && name=${fields[2]} ;;
esac
done < file
With awk, I'd write:
read age name < <(
awk -F '[:,]' '
$1 == "AGE" {printf "%s ",$2}
$1 == "NAME" && $2 == 2 && $3 == 0 {printf "%s ",$NF}
END {print ""}
' filename
)