Dept. of Trans.       95% REDUCTION   Serial No.  Contract No.                          
                                          01-358-09-26  06-425104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  99%         155%                             
06-FRE-5-0.0/49.9                    Federal Project:                                   
                                     ACIM-005-5(124)                                    
                             ACIM-005-5(124)                                            
                                                                                        
Progress payment No. 14            Payment period ending: 12-08-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       5,177,610.98       80,000.00                      
2.a. Extra Work                         118,192.60            0.00                      
  b. Adjustment Comp.                   288,009.21      -47,111.26                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        5,583,812.79       32,888.74                      
5. Mobilization                                                                         
6. Total Work Completed    5,583,812.79                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -279,190.64       -1,644.44                      
   b. Unsatisfactory Prog.               -3,898.08       -1,644.43                      
   c. Reduction after 95% Comp.         177,703.53      101,644.44                      
9. Total pay to Contractor            5,478,427.60      131,244.31                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             131,244.31