Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-360-14-38  04-228264                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  96%         100%                             
04-CC-4-R14.6/23.0                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 31            Payment period ending: 12-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01272                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      13,708,283.07      -15,456.54                      
2.a. Extra Work                         752,770.28      -30,446.07                      
  b. Adjustment Comp.                   413,007.42       49,424.44                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       14,874,060.77        3,521.83                      
5. Mobilization                       1,627,000.00            0.00                      
6. Total Work Completed   16,501,060.77                                                 
7. Deductions                            -3,434.59            0.00                      
8. a.Contract Retentions               -743,703.04         -176.09                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           15,753,923.14        3,345.74                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       743,520.00                                                  
12. Net Pymt. this Estimate                               3,345.74