Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          02-008-13-47  11-060704                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
11-IMP-98-35.4/37.6                    Federal Project:                                 
                                     AC-P098(19)                                        
                             STP-P098(19)                                               
                                                                                        
Progress payment No. 03            Payment period ending: 12-17-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01828                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.         736,136.30       94,048.90                      
2.a. Extra Work                          14,046.78       11,273.01                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention          750,183.08      105,321.91                      
5. Mobilization                          26,000.00            0.00                      
6. Total Work Completed      776,183.08                                                 
7. Deductions                           -30,000.00      -30,000.00                      
8. a.Contract Retentions                -32,243.06            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          32,243.06       32,243.06                      
9. Total pay to Contractor              746,183.08      107,564.97                      
10. Reduction Amt to Escrow             -32,240.00      -32,240.00                      
11. Payment to Escrow        32,240.00                                                  
12. Net Pymt. this Estimate                              75,324.97