Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-235-10-39  02-364304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  61%          47%                             
02-SIS-5-2.7/R11.4                    Federal Project:                                  
                                     ACIM-005-9(156)                                    
                             STP-P089(74)                                               
                                                                                        
Progress payment No. 24            Payment period ending: 08-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01647                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       9,837,209.40    2,549,861.90                      
2.a. Extra Work                       1,642,695.25        6,180.42                      
  b. Adjustment Comp.                   222,008.27       -3,000.00                      
3. Materials on Hand                    288,384.13      214,459.42                      
4. Earned Subject to Retention       11,990,297.05    2,767,501.74                      
5. Mobilization                       1,880,088.00       94,004.40                      
6. Total Work Completed   13,582,000.92                                                 
7. Deductions                           -12,500.00       35,872.50                      
8. a.Contract Retentions               -599,514.85     -138,375.08                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           13,258,370.20    2,759,003.56                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       550,000.00                                                  
12. Net Pymt. this Estimate                           2,759,003.56