Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-268-10-29  07-127214                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  23%          23%                             
07-LA-138-51.9/52.5                    Federal Project:                                 
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            Payment period ending: 09-20-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         943,787.07      701,771.85                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                     1,121.78         -100.32                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          944,908.85      701,671.53                      
5. Mobilization                         101,240.55       47,956.05                      
6. Total Work Completed    1,046,149.40                                                 
7. Deductions                                                                           
8. a.Contract Retentions                -90,683.70      -66,359.97                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor              955,465.70      683,267.61                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             683,267.61