Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          05-362-12-04  08-0C9824                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  99%          65%                             
08-RIV-86-R13.1/ .0                    Federal Project:                                 
                                     ACST-P086(69)                                      
                             PHG-P086(69)                                               
                                                                                        
Progress payment No. 03            Payment period ending: 12-20-05                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,505,124.49      634,337.52                      
2.a. Extra Work                          13,573.53       13,573.53                      
  b. Adjustment Comp.                    -5,000.00       -5,000.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,513,698.02      642,911.05                      
5. Mobilization                         431,000.00       21,550.00                      
6. Total Work Completed    1,944,698.02                                                 
7. Deductions                          -234,624.30      -11,731.22                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,710,073.72      652,729.83                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             652,729.83