Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          07-233-16-06  03-1A5304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  54%          40%                             
03-NEV-20-0.0/R4.1                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 09            Payment period ending: 08-20-07                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      14,992,099.81    2,599,533.87                      
2.a. Extra Work                         137,780.97      -20,595.05                      
  b. Adjustment Comp.                   -47,184.00            0.00                      
3. Materials on Hand                    177,629.33       68,404.19                      
4. Earned Subject to Retention       15,260,326.11    2,647,343.01                      
5. Mobilization                       3,154,000.00            0.00                      
6. Total Work Completed   18,236,696.78                                                 
7. Deductions                           -10,000.00       20,000.00                      
8. a.Contract Retentions               -763,016.31     -132,367.15                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           17,641,309.80    2,534,975.86                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           2,534,975.86