Clarification POD 5-3

[sm_bbcoach]

Play take from POD 5-3:
K's ball 4/12 from R-45. K8 punt is rolling on the R-16 when an IW is blown R76 blocked K84 in the back on the R-22 before the IW.

Ruling given: If penality is declines, the IW during the loose ball dictiates replay of down. (I agree!)
If penality is accepted, the fould negates the IW and results in a PREVIOUS SPOT enforcement.

If I read this right, K gets the ball back for 4/2 from R-35? This seems to me to be a tripple -whammy on R due to an official mistake. K gets the ball back (after kicking it away. I thought PSk eliminated this messed up thinking), they get the 10 yards for the block in back (ok but it is #2 against R) AND get a chance for a 2 yd plunge for 1/10. Seems to me a huge hit for R all for an official mistake.

Why, then, does the penality negate the IW? It would seem to me that if accepted, either PSK should coe into play and R keeps ball but looses 10 yrd (1/2 distance) OR you replay down w/ NO yardage markoff.

Please clear me up on this .