Dept. of Trans.          PROGRESS           Serial No.    Contract No.
                                            15-146-17-22  05-1A4604
                 PROGRESS PAYMENT VOUCHER   %complete:    %time:
                                              10%           18%

Location:                                   Federal Project:
05-SB-166-R25.5/R34.9                       NONE
05-SLO-166-R25.5/R34.9

Progress payment No. 003               Payment period ending: 05-20-15
GRANITE CONSTRUCTION COMPANY
P.O. BOX 50085
WATSONVILLE  CA 95076

Escrow No. 00000
                                        Total Estimate   This Estimate
 1. Contract Itms Without Mobil.            278,336.34      272,026.34
 2. a. Extra Work
    b. Adustment Comp.
 3. Materials on Hand
 4. Earned Subject to Retention             278,336.34      272,026.34
 5. Mobilization
 6. Total Work Completed        278,336.34
 7. Deductions                              -10,000.00      -10,000.00
 8. a. Contract Retentions
    b. Unsatisfactory Retentions
    c. Reduction after 95% Comp.
 9. Total pay to Contractor                 268,336.34      262,026.34
10. Reduction Amt to Escrow
11. Payment to Escrow                 0.00
12. Net Pymt. this Estimate                                 262,026.34