Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          01-310-14-05  05-4610U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
05-SB-246-26.1/ .0                    Federal Project:                                  
                                     ACST-P246(14)                                      
                             P-P246(14)                                                 
                             STPE-P246(14)                                              
Progress payment No. 12            Payment period ending: 11-01-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,098,503.74          150.00                      
2.a. Extra Work                          51,523.59            0.00                      
  b. Adjustment Comp.                      -487.00            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,149,540.33          150.00                      
5. Mobilization                                                                         
6. Total Work Completed    1,149,540.33                                                 
7. Deductions                           -33,600.00      -11,000.00                      
8. a.Contract Retentions                -57,469.52            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          57,469.52       57,469.52                      
9. Total pay to Contractor            1,115,940.33       46,619.52                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              46,619.52