Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          11-319-10-33  03-4M0504                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
03-ED-193-0.2/R6.0                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            Payment period ending: 10-17-11                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,193,634.46      350,172.70                      
2.a. Extra Work                         252,985.48      240,047.28                      
  b. Adjustment Comp.                   -39,518.03      -39,518.03                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,407,101.91      550,701.95                      
5. Mobilization                                                                         
6. Total Work Completed    1,407,101.91                                                 
7. Deductions                            -5,000.00       -4,000.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,402,101.91      546,701.95                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             546,701.95