Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          04-113-09-42  08-0C9904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
08-RIV-86-R10.5/R11.5                    Federal Project:                               
                                     ACST-X065(82)                                      
                             PHG-X065(82)                                               
                                                                                        
Progress payment No. 03            Payment period ending: 04-08-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         661,482.51      123,006.64                      
2.a. Extra Work                           4,783.55            0.00                      
  b. Adjustment Comp.                   -14,662.03        1,268.33                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          651,604.03      124,274.97                      
5. Mobilization                          80,346.00            0.00                      
6. Total Work Completed      731,950.03                                                 
7. Deductions                           -15,000.00      -11,210.70                      
8. a.Contract Retentions                -26,366.45            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          26,366.45       26,366.45                      
9. Total pay to Contractor              716,950.03      139,430.72                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             139,430.72