Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          11-322-13-45  09-347204                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  98%         100%                             
09-MNO-120-5.4/50.0                    Federal Project:                                 
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 11-18-11                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE  CA 95077                                                                   
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,022,793.66           -6.25                      
2.a. Extra Work                          11,173.02        8,551.38                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,033,966.68        8,545.13                      
5. Mobilization                                                                         
6. Total Work Completed    1,033,966.68                                                 
7. Deductions                            -4,472.00            0.00                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,029,494.68        8,545.13                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                               8,545.13