Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-173-13-11  10-460804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  94%         100%                             
10-SJ-5-10.7/R22.5                    Federal Project:                                  
                                     ACIM-005-6(298)                                    
                             ACIM-005-6(298)                                            
                                                                                        
Progress payment No. 25            Payment period ending: 06-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01477                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      12,741,278.18        8,707.02                      
2.a. Extra Work                         303,851.73     -160,325.53                      
  b. Adjustment Comp.                   986,403.67      185,463.50                      
3. Materials on Hand                    228,069.16            0.00                      
4. Earned Subject to Retention       14,259,602.74       33,844.99                      
5. Mobilization                                                                         
6. Total Work Completed   14,031,533.58                                                 
7. Deductions                                                                           
8. a.Contract Retentions               -712,980.14       -1,692.25                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           13,546,622.60       32,152.74                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       712,980.00                                                  
12. Net Pymt. this Estimate                              32,152.74