The clear and unambiguous manifestation of the investment process of the Endowment Mortgage Contract, as evidenced by the statement in THE SCHEDULE to the effect that ALL (100% Percentage Allocation) premiums are invested in the HOMEWAY MORTGAGE FUND (Series 4), cannot be modified by reference to any other terms or clauses in the Contract.


The modification of the understanding of investment by reference to the policy Provisions, Privileges and Conditions (Document 6C of Appendix 1/6) is therefore denied legal effect.


(See Section 2.2.1: The Construction of a Contract.)

Also, it must be remembered that THE SCHEDULE has the status of a deed under seal and, as such, its interpretation cannot, justly, be varied by statements elsewhere.