Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-081-10-38  05-348804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  51%          62%                             
05-SB-154-17.9/21.4                    Federal Project:                                 
                                     ACST-P154(16)                                      
                             P-P154(16)                                                 
                                                                                        
Progress payment No. 08            Payment period ending: 03-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01645                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,775,693.48       37,680.00                      
2.a. Extra Work                          54,356.87       21,633.47                      
  b. Adjustment Comp.                    -2,250.00       -2,250.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,827,800.35       57,063.47                      
5. Mobilization                                                                         
6. Total Work Completed    1,827,800.35                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions                -91,390.02       -2,853.18                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,726,410.33       54,210.29                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              54,210.29