Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          05-068-09-53  08-483724                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
08-SBD-40-R40.4/R79.7                    Federal Project:                               
                                     ACIM-040-1(77)                                     
                                                                                        
                                                                                        
Progress payment No. 17            Payment period ending: 10-19-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,756,912.34      148,980.00                      
2.a. Extra Work                          95,255.15        2,339.10                      
  b. Adjustment Comp.                        47.37      -13,544.76                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,852,214.86      137,774.34                      
5. Mobilization                         200,000.00            0.00                      
6. Total Work Completed    2,052,214.86                                                 
7. Deductions                            -5,179.45            0.00                      
8. a.Contract Retentions                -85,043.20            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          85,043.20            0.00                      
9. Total pay to Contractor            2,047,035.41      137,774.34                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             137,774.34