Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          02-003-07-16  03-0C5104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-YOL-5-5.6/ .0                    Federal Project:                                    
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            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.         255,429.70        1,799.68                      
2.a. Extra Work                          19,880.60       18,664.67                      
  b. Adjustment Comp.                    -3,893.00            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          271,417.30       20,464.35                      
5. Mobilization                                                                         
6. Total Work Completed      271,417.30                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions                 -8,534.89            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.           8,534.89            0.00                      
9. Total pay to Contractor              261,417.30       20,464.35                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              20,464.35