Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-266-13-12  09-284604                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  93%          94%                             
09-MNO-203-4.8/8.7                    Federal Project:                                  
                                     ACST-P203(9)                                       
                             P-P203(9)                                                  
                                                                                        
Progress payment No. 05            Payment period ending: 09-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       3,513,880.50      260,268.80                      
2.a. Extra Work                          29,746.62       29,746.62                      
  b. Adjustment Comp.                    -6,859.96            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        3,536,767.16      290,015.42                      
5. Mobilization                         361,809.00            0.00                      
6. Total Work Completed    3,898,576.16                                                 
7. Deductions                           -10,000.00            0.00                      
8. a.Contract Retentions               -176,838.36      -14,500.77                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            3,711,737.80      275,514.65                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             275,514.65