Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-265-06-53  06-388204                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  91%          99%                             
06-TUL-99-30.1/31.0                    Federal Project:                                 
                                     ACNH-P099(448)                                     
                                                                                        
                                                                                        
Progress payment No. 05            Payment period ending: 09-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,766,405.64       41,445.88                      
2.a. Extra Work                          91,026.81       13,195.36                      
  b. Adjustment Comp.                   -10,835.93            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,846,596.52       54,641.24                      
5. Mobilization                          15,000.00            0.00                      
6. Total Work Completed    1,861,596.52                                                 
7. Deductions                                 0.00       20,000.00                      
8. a.Contract Retentions                -92,329.83       -2,732.07                      
   b. Unsatisfactory Prog.               -2,732.05       -2,732.05                      
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,766,534.64       69,177.12                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              69,177.12