YES!
Thank you mab and magnetjuic!
I have to say I doubted this and took extra precautions connecting a wire giving me 120v line to the side that has a wire going back to the neutral of the incoming voltage, but it worked!
I now get 245v across the 220 outlet terminals. "N" to ground gives 245v, "L" to ground results in 0v
the 120 outlet give me 120V across terminals. "N" to ground gives 120v, "L" to ground results in 245v
when I switch the input switch to 220v (even though its only getting 120v) it "halves" the output at the outlets, 60v at the 120 outlet and 120 across the 220 outlet.
There is a "buzz/hum" now while the unit is plugged in and running, switching the breaker off, kills the output voltage and the buzz.
I am thinking this buzz is normal and getting 245v (on a 220v-240v outlet) is with in normal range?
And I am mistaken on L meaning load and N meaning neutral???
Thanks for all the responses, I posting the working wiring diagram
"If you wanna go fast - go alone, if you wanna go far, go together"