Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          02-260-14-16  05-348804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
05-SB-154-17.9/21.4                    Federal Project:                                 
                                     ACST-P154(16)                                      
                             P-P154(16)                                                 
                                                                                        
Progress payment No. 27            Payment period ending: 08-30-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01645                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,425,565.85          417.30                      
2.a. Extra Work                         562,208.46        1,279.22                      
  b. Adjustment Comp.                    -6,338.14            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,981,436.17        1,696.52                      
5. Mobilization                                                                         
6. Total Work Completed    3,981,436.17                                                 
7. Deductions                           -10,000.00      -10,000.00                      
8. a.Contract Retentions               -198,986.98            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         198,986.98      198,986.98                      
9. Total pay to Contractor            3,971,436.17      190,683.50                      
10. Reduction Amt to Escrow            -198,690.00     -198,690.00                      
11. Payment to Escrow       198,690.00                                                  
12. Net Pymt. this Estimate                              -8,006.50