Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          12-020-11-51  01-3994U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  69%          46%                             
01-LAK-175-4.9/28.0                    Federal Project:                                 
01-LAK-29-0.0/11.9                                     ACST-000C(339)                   
01-MEN-175-0.0/9.9                             P-000C(339)                              
                                                                                        
Progress payment No. 07            Payment period ending: 01-19-12                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      10,275,654.68       83,403.50                      
2.a. Extra Work                         826,058.54      222,238.39                      
  b. Adjustment Comp.                  -291,696.71     -291,696.71                      
3. Materials on Hand                     65,417.28            0.00                      
4. Earned Subject to Retention       10,875,433.79       13,945.18                      
5. Mobilization                         718,145.00            0.00                      
6. Total Work Completed   11,528,161.51                                                 
7. Deductions                           -17,000.00       -3,000.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           11,576,578.79       10,945.18                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              10,945.18