Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          08-361-13-57  08-486304                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  70%          53%                             
08-SBD-40-R89.0/R119.0                    Federal Project:                              
                                     ACIM-040-2(54)                                     
                                                                                        
                                                                                        
Progress payment No. 12            Payment period ending: 12-19-08                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      27,022,454.51    1,084,468.70                      
2.a. Extra Work                         135,163.49       13,172.13                      
  b. Adjustment Comp.                 2,522,170.40      -69,077.49                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       29,679,788.40    1,028,563.34                      
5. Mobilization                       3,536,243.00            0.00                      
6. Total Work Completed   33,216,031.40                                                 
7. Deductions                          -505,217.27     -500,000.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           32,710,814.13      528,563.34                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             528,563.34