Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          04-210-12-06  04-237024                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
04-SOL-37-R0.2/ .0                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 11            Payment period ending: 07-02-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         626,096.30            0.00                      
2.a. Extra Work                          93,125.45       38,450.81                      
  b. Adjustment Comp.                    31,282.00       -1,218.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          750,503.75       37,232.81                      
5. Mobilization                          65,000.00            0.00                      
6. Total Work Completed      815,503.75                                                 
7. Deductions                                                                           
8. a.Contract Retentions                -35,663.55            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          35,663.55       35,663.55                      
9. Total pay to Contractor              815,503.75       72,896.36                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              72,896.36