Dept. of Trans.       SUPPLEMENTAL   Serial No.  Contract No.                           
                                          01-123-09-52  04-228264                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  75%          89%                             
04-CC-4-R14.6/23.0                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 25            Payment period ending: 05-02-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01272                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      11,160,413.39      173,261.80                      
2.a. Extra Work                         466,957.23       10,768.45                      
  b. Adjustment Comp.                   196,782.98            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       11,824,153.60      184,030.25                      
5. Mobilization                       1,627,000.00            0.00                      
6. Total Work Completed   13,451,153.60                                                 
7. Deductions                            -3,434.59            0.00                      
8. a.Contract Retentions               -591,207.68       -9,201.51                      
   b. Unsatisfactory Prog.              -47,493.21       -9,201.51                      
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           12,809,018.12      165,627.23                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       591,200.00                                                  
12. Net Pymt. this Estimate                             165,627.23