Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          08-136-09-36  06-460204                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
06-KER-223-20.1/21.2                    Federal Project:                                
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 04-23-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,208,448.76       -5,899.50                      
2.a. Extra Work                           4,838.57        4,838.57                      
  b. Adjustment Comp.                    48,429.43            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,261,716.76       -1,060.93                      
5. Mobilization                                                                         
6. Total Work Completed    1,261,716.76                                                 
7. Deductions                            -2,289.66       20,000.00                      
8. a.Contract Retentions                -59,572.58            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          59,572.58            0.00                      
9. Total pay to Contractor            1,259,427.10       18,939.07                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              18,939.07