Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          06-251-12-51  08-0F7904                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
08-RIV-95-28.0/36.2                    Federal Project:                                 
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            Payment period ending: 09-06-06                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,280,759.55      -14,053.45                      
2.a. Extra Work                          43,104.50       43,104.50                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,323,864.05       29,051.05                      
5. Mobilization                                                                         
6. Total Work Completed    1,323,864.05                                                 
7. Deductions                                                                           
8. a.Contract Retentions                -64,740.65            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          64,740.65       64,740.65                      
9. Total pay to Contractor            1,323,864.05       93,791.70                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              93,791.70