Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          02-037-12-55  05-487104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
05-MON-101-49.7/59.4                    Federal Project:                                
                                     ACNH-P101(945)                                     
                                                                                        
                                                                                        
Progress payment No. 08            Payment period ending: 12-07-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01710                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,165,069.50      -68,170.80                      
2.a. Extra Work                         161,023.48      161,023.48                      
  b. Adjustment Comp.                   -14,915.16      -14,915.16                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,311,177.82       77,937.52                      
5. Mobilization                                                                         
6. Total Work Completed    3,311,177.82                                                 
7. Deductions                           -10,000.00       21,121.49                      
8. a.Contract Retentions               -161,101.27            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         161,101.27            0.00                      
9. Total pay to Contractor            3,301,177.82       99,059.01                      
10. Reduction Amt to Escrow            -161,100.00            0.00                      
11. Payment to Escrow       161,100.00                                                  
12. Net Pymt. this Estimate                              99,059.01