How does the MA531 operate?

MA531 (ANSI F20) Apartment Corridor Door Lock 

Latch bolt operated by knob/lever from either side, except when outside knob/lever is made inoperative by buttons in face. Dead bolt operated by key outside or turn inside. Key outside operates both bolts. Operating inside knob/lever retracts both bolts and outside remains locked. Latch bolt is deadlocked when outside knob/lever is made inoperative or when the dead bolt is projected. When dead bolt is retracted, knob/lever is unlocked by buttons in face.

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