Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-357-12-44  03-382904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  70%          55%                             
03-YOL-80-8.9/R10.1                    Federal Project:                                 
                                     ACNH-080-2(336)                                    
                             I-080-2(336)                                               
                                                                                        
Progress payment No. 21            Payment period ending: 12-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01661                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,149,623.58      116,480.21                      
2.a. Extra Work                         461,245.57      112,057.40                      
  b. Adjustment Comp.                   594,175.20       -6,865.72                      
3. Materials on Hand                    107,086.15            0.00                      
4. Earned Subject to Retention        4,312,130.50      221,671.89                      
5. Mobilization                         247,400.00            0.00                      
6. Total Work Completed    4,452,444.35                                                 
7. Deductions                          -331,227.31         -400.00                      
8. a.Contract Retentions               -215,606.53      -11,083.60                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            4,012,696.66      210,188.29                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       215,600.00                                                  
12. Net Pymt. this Estimate                             210,188.29