Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          06-341-12-24  01-452604                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
01-LAK-99                    Federal Project:                                           
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 04            Payment period ending: 10-06-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,009,303.55       17,857.54                      
2.a. Extra Work                          28,316.54       28,316.54                      
  b. Adjustment Comp.                   -20,525.46      -20,525.46                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,017,094.63       25,648.62                      
5. Mobilization                                                                         
6. Total Work Completed    1,017,094.63                                                 
7. Deductions                           -18,785.75      -11,785.75                      
8. a.Contract Retentions                -49,572.30            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          49,572.30       49,572.30                      
9. Total pay to Contractor              998,308.88       63,435.17                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              63,435.17