EXHIBIT 2.3 MEDIUM TERM PARTICIPATION AGREEMENT Fog Cap L.P. ("the Bank") hereby offers to ( See attached Schedule 1) ("the Participant") a participation in respect of the Loan (as hereinafter defined) upon the terms and conditions set out overleaf...Medium Term Participation Agreement • March 8th, 2002 • Fog Cutter Capital Group Inc • Real estate investment trusts • New York
