Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          06-171-14-00  05-484604                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 PEP        SAT                                
05-SB-1-R1.7/R2.5                    Federal Project:                                   
                                     ER-35L2(4)                                         
                                                                                        
                                                                                        
Progress payment No. 24            Payment period ending: 06-20-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,199,533.39       31,786.92                      
2.a. Extra Work                       1,597,912.31      -20,192.62                      
  b. Adjustment Comp.                    23,031.99            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,820,477.69       11,594.30                      
5. Mobilization                         157,449.50            0.00                      
6. Total Work Completed    3,977,927.19                                                 
7. Deductions                           -93,798.56       -2,898.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,884,128.63        8,696.30                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                               8,696.30