Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          07-039-10-03  01-276814                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
01-LAK-20-38.6/45.3                    Federal Project:                                 
                                     ACNH-P020(137)                                     
                                                                                        
                                                                                        
Progress payment No. 16            Payment period ending: 12-21-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       6,088,633.49        7,060.12                      
2.a. Extra Work                         873,660.48            0.00                      
  b. Adjustment Comp.                    89,707.37       -5,078.35                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        7,052,001.34        1,981.77                      
5. Mobilization                         566,750.00            0.00                      
6. Total Work Completed    7,618,751.34                                                 
7. Deductions                           -44,473.00       -1,595.50                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            7,574,278.34          386.27                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                                 386.27