[sdiy] Interpreting PEQ schematic help

[ColinMuirDorward]

Hi Folks,
I've been puzzling over this all day, so figured it was time to ask for
help.
Here <http://www225.pair.com/audio/waltzingbear/Schematics/Urei/545.JPG> is
the schematic for the Urei 545 PEQ. I understand that it's a highpass
filter followed by four BP SVFs summed into the dry signal, then a lowpass
filter.
I'm stuck on the in/out switch, though. What's going on here? I know what
it's supposed to do, but I don't understand how it works.
Colin


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