Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          03-143-11-16  03-382904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  84%         100%                             
03-YOL-80-8.9/R10.1                    Federal Project:                                 
                                     ACNH-080-2(336)                                    
                             I-080-2(336)                                               
                                                                                        
Progress payment No. 26            Payment period ending: 05-20-03                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01661                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,985,254.04      381,701.72                      
2.a. Extra Work                         697,225.27        5,088.91                      
  b. Adjustment Comp.                   616,731.52      -25,000.00                      
3. Materials on Hand                          0.00      -93,785.15                      
4. Earned Subject to Retention        5,299,210.83      268,005.48                      
5. Mobilization                         247,400.00            0.00                      
6. Total Work Completed    5,546,610.83                                                 
7. Deductions                           -10,400.00            0.00                      
8. a.Contract Retentions               -264,960.54      -13,400.27                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            5,271,250.29      254,605.21                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       264,960.00                                                  
12. Net Pymt. this Estimate                             254,605.21