Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-235-16-58  02-364304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  18%          22%                             
02-SIS-5-2.7/R11.4                    Federal Project:                                  
                                     ACIM-005-9(156)                                    
                             STP-P089(74)                                               
                                                                                        
Progress payment No. 08            Payment period ending: 08-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01647                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,245,533.39      980,585.98                      
2.a. Extra Work                         209,608.16       50,400.75                      
  b. Adjustment Comp.                    -5,000.00            0.00                      
3. Materials on Hand                    139,672.68      139,672.68                      
4. Earned Subject to Retention        2,589,814.23    1,170,659.41                      
5. Mobilization                       1,410,066.00      470,022.00                      
6. Total Work Completed    3,860,207.55                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -258,981.42     -117,065.94                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,740,898.81    1,523,615.47                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       258,980.00                                                  
12. Net Pymt. this Estimate                           1,523,615.47