Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          12-142-11-19  01-3994U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  69%          51%                             
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. 11            Payment period ending: 05-17-12                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      10,384,959.68      161,805.00                      
2.a. Extra Work                         964,079.09        2,650.21                      
  b. Adjustment Comp.                  -121,583.06            0.00                      
3. Materials on Hand                          0.00      -65,417.28                      
4. Earned Subject to Retention       11,227,455.71       99,037.93                      
5. Mobilization                         718,145.00            0.00                      
6. Total Work Completed   11,945,600.71                                                 
7. Deductions                                                                           
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           11,945,600.71       99,037.93                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              99,037.93