Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          08-042-14-04  08-476104                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
08-SBD-15-R115.3/R119.0                    Federal Project:                             
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 16            Payment period ending: 11-02-07                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       5,932,684.08      -52,460.00                      
2.a. Extra Work                         884,093.54            0.00                      
  b. Adjustment Comp.                   885,859.49            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        7,702,637.11      -52,460.00                      
5. Mobilization                         352,757.00            0.00                      
6. Total Work Completed    8,055,394.11                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -348,864.54            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         348,864.54            0.00                      
9. Total pay to Contractor            8,055,394.11      -52,460.00                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             -52,460.00