Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          04-267-09-49  08-4047U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
08-SBD-15-R137.0/163.3                    Federal Project:                              
                                     ACIM-015-3(39)                                     
                             ACIM-015-3(39)                                             
                                                                                        
Progress payment No. 29            Payment period ending: 09-08-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01986                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      42,711,496.96      291,724.78                      
2.a. Extra Work                       1,192,309.57      169,250.53                      
  b. Adjustment Comp.                   677,621.14      -32,199.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       44,581,427.67      428,776.31                      
5. Mobilization                       4,482,400.00            0.00                      
6. Total Work Completed   49,063,827.67                                                 
7. Deductions                           -16,450.00      120,063.20                      
8. a.Contract Retentions             -2,207,632.57            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.       2,207,632.57    2,207,632.57                      
9. Total pay to Contractor           49,047,377.67    2,756,472.08                      
10. Reduction Amt to Escrow          -2,207,630.00   -2,207,630.00                      
11. Payment to Escrow     2,207,630.00                                                  
12. Net Pymt. this Estimate                             548,842.08