Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          07-233-08-59  03-4C2504                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  95%          61%                             
03-ED-89-16.6/16.7                    Federal Project:                                  
                                     ACST-P089(89)                                      
                             P-P089(89)                                                 
                                                                                        
Progress payment No. 04            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.       1,190,918.72       95,554.32                      
2.a. Extra Work                          77,328.02       28,667.08                      
  b. Adjustment Comp.                    -5,142.49            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,263,104.25      124,221.40                      
5. Mobilization                         132,026.60            0.00                      
6. Total Work Completed    1,395,130.85                                                 
7. Deductions                            -4,000.00       -4,000.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,391,130.85      120,221.40                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             120,221.40