Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-144-06-59  07-117104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  92%          61%                             
07-LA-14-44.0/R54.5                    Federal Project:                                 
                                     ACNH-P014(52)                                      
                                                                                        
                                                                                        
Progress payment No. 24            Payment period ending: 05-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01540                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      20,695,815.66      437,570.00                      
2.a. Extra Work                       1,055,800.54      188,508.62                      
  b. Adjustment Comp.                   490,950.83      -91,790.00                      
3. Materials on Hand                          0.00      -90,298.09                      
4. Earned Subject to Retention       22,242,567.03      443,990.53                      
5. Mobilization                       2,471,000.00            0.00                      
6. Total Work Completed   24,713,567.03                                                 
7. Deductions                          -143,925.00       -2,000.00                      
8. a.Contract Retentions             -1,112,128.35      -22,199.52                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           23,457,513.68      419,791.01                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow     1,112,120.00                                                  
12. Net Pymt. this Estimate                             419,791.01