Dept. of Trans.       FINAL   Serial No.  Contract No.                                  
                                          05-228-11-12  05-0L8404                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
05-MON-25-0.0/4.0                    Federal Project:                                   
05-MON-25-10.0/11.7                                     NONE                            
                                                                                        
                                                                                        
Progress payment No. 04            Payment period ending: 06-06-05                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         442,767.04            0.00                      
2.a. Extra Work                          21,795.23       14,717.15                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention          464,562.27       14,717.15                      
5. Mobilization                                                                         
6. Total Work Completed      464,562.27                                                 
7. Deductions                                 0.00       10,000.00                      
8. a.Contract Retentions                -19,889.90            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          19,889.90            0.00                      
9. Total pay to Contractor              464,562.27       24,717.15                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              24,717.15