Dept. of Trans.       FINAL   Serial No.  Contract No.                                  
                                          01-346-08-43  06-453604                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
06-FRE-198-12.3/21.1                    Federal Project:                                
06-KIN-33-8.0/12.5                                     NONE                             
                                                                                        
                                                                                        
Progress payment No. 05            Payment period ending: 08-30-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         776,716.88            0.00                      
2.a. Extra Work                           5,107.94            0.00                      
  b. Adjustment Comp.                    -6,426.97       -6,426.97                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          775,397.85       -6,426.97                      
5. Mobilization                                                                         
6. Total Work Completed      775,397.85                                                 
7. Deductions                                 0.00       10,000.00                      
8. a.Contract Retentions                -32,256.34            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          32,256.34            0.00                      
9. Total pay to Contractor              775,397.85        3,573.03                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                               3,573.03