Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-234-09-36  05-402804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  38%          26%                             
05-SLO-101-45.2/45.7                    Federal Project:                                
05-SLO-41-15.8/16.0                                     NONE                            
                                                                                        
                                                                                        
Progress payment No. 10            Payment period ending: 08-20-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  02364                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       4,234,277.07      256,379.25                      
2.a. Extra Work                         334,563.04        3,979.10                      
  b. Adjustment Comp.                   107,390.14      -13,810.00                      
3. Materials on Hand                     24,776.03        9,932.95                      
4. Earned Subject to Retention        4,701,006.28      256,481.30                      
5. Mobilization                       1,425,000.00            0.00                      
6. Total Work Completed    6,101,230.25                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -293,776.31            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            5,832,229.97      256,481.30                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       293,770.00                                                  
12. Net Pymt. this Estimate                             256,481.30