Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-267-11-29  01-3514U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  88%          72%                             
01-MEN-1-90.9/105.6                    Federal Project:                                 
                                     ACST-P001(462)                                     
                             P-P001(462)                                                
                                                                                        
Progress payment No. 09            Payment period ending: 09-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE, CA 950775085                                                               
                                                                                        
                                                                                        
Escrow No.  01801                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,010,963.14       39,038.10                      
2.a. Extra Work                         294,172.20       32,783.97                      
  b. Adjustment Comp.                    -2,225.82        2,565.95                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,302,909.52       74,388.02                      
5. Mobilization                         375,000.00            0.00                      
6. Total Work Completed    3,677,909.52                                                 
7. Deductions                           -50,000.00      160,000.00                      
8. a.Contract Retentions               -165,145.48       -3,719.40                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,462,764.04      230,668.62                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       165,140.00                                                  
12. Net Pymt. this Estimate                             230,668.62