Dept. of Trans.       FINAL   Serial No.  Contract No.                                  
                                          07-103-15-58  03-2M3904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-BUT-32-0.0/7.7                    Federal Project:                                   
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 07            Payment period ending: 09-22-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         860,728.64            0.00                      
2.a. Extra Work                          21,382.94          965.20                      
  b. Adjustment Comp.                      -591.29         -591.29                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          881,520.29          373.91                      
5. Mobilization                          21,019.00            0.00                      
6. Total Work Completed      902,539.29                                                 
7. Deductions                                 0.00       14,124.55                      
8. a.Contract Retentions                -41,769.34            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          41,769.34            0.00                      
9. Total pay to Contractor              902,539.29       14,498.46                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              14,498.46