Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          06-234-14-16  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. 26            Payment period ending: 08-20-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,203,435.79        1,626.00                      
2.a. Extra Work                       1,643,305.14       19,653.74                      
  b. Adjustment Comp.                     6,513.46      -16,518.53                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,853,254.39        4,761.21                      
5. Mobilization                         157,449.50            0.00                      
6. Total Work Completed    4,010,703.89                                                 
7. Deductions                           -34,488.86       74,609.70                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,976,215.03       79,370.91                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              79,370.91