Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          10-299-16-16  08-0N7004                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  91%          75%                             
08-SBD-18-87.9/115.9                    Federal Project:                                
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 10-20-10                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,567,683.31      412,040.13                      
2.a. Extra Work                                                                         
  b. Adjustment Comp.                   -20,355.09      -20,355.09                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        2,547,328.22      391,685.04                      
5. Mobilization                                                                         
6. Total Work Completed    2,547,328.22                                                 
7. Deductions                          -100,000.00     -100,000.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,447,328.22      291,685.04                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             291,685.04