Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-330-12-33  05-348804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 PEP        SAT                                
05-SB-154-17.9/21.4                    Federal Project:                                 
                                     ACST-P154(16)                                      
                             P-P154(16)                                                 
                                                                                        
Progress payment No. 17            Payment period ending: 11-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01645                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,409,917.10        1,877.85                      
2.a. Extra Work                         498,981.23        3,692.82                      
  b. Adjustment Comp.                    -6,338.14            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,902,560.19        5,570.67                      
5. Mobilization                                                                         
6. Total Work Completed    3,902,560.19                                                 
7. Deductions                           -20,000.00       11,000.00                      
8. a.Contract Retentions               -195,128.01         -278.53                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,687,432.18       16,292.14                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       195,120.00                                                  
12. Net Pymt. this Estimate                              16,292.14