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5-1-2 A new series of downs is awarded:
(a) After a first, second or third down, a new series of downs shall be awarded only after considering the effect of any act during the down and any dead ball foul by B.
(b) After a fourth down, a new series of downs shall be awarded only after considering the effect of any act during the down.
So no, a first down is not awarded until after the penalty is considered and unless one of the other things that stop the clock that were listed above occur to cause the ball to become dead, the clock starts on the ready in this situation.
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See the ball, insure its dead
Then the whistle, not ahead
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