Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          06-362-11-29  05-0P6104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
05-SCR-1-R1.0/R8.4                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 04            Payment period ending: 11-22-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,694,492.59          595.23                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                   -42,919.10      -42,919.10                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        2,651,573.49      -42,323.87                      
5. Mobilization                                                                         
6. Total Work Completed    2,651,573.49                                                 
7. Deductions                           -20,000.00      -20,000.00                      
8. a.Contract Retentions               -134,694.87            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         134,694.87      134,694.87                      
9. Total pay to Contractor            2,631,573.49       72,371.00                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              72,371.00