Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          01-333-10-26  03-0C5104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-YOL-5-5.6/ .0                    Federal Project:                                    
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            Payment period ending: 11-13-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         253,630.02       82,932.23                      
2.a. Extra Work                           1,215.93        1,215.93                      
  b. Adjustment Comp.                    -3,893.00       -3,893.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          250,952.95       80,255.16                      
5. Mobilization                                                                         
6. Total Work Completed      250,952.95                                                 
7. Deductions                           -10,000.00      -10,000.00                      
8. a.Contract Retentions                 -8,534.89            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.           8,534.89        8,534.89                      
9. Total pay to Contractor              240,952.95       78,790.05                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              78,790.05