Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          02-035-07-04  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. 05            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            0.00                      
2.a. Extra Work                          36,537.97            0.00                      
  b. Adjustment Comp.                    -1,659.60            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention          771,014.67            0.00                      
5. Mobilization                          26,000.00            0.00                      
6. Total Work Completed      797,014.67                                                 
7. Deductions                           -20,000.00       10,000.00                      
8. a.Contract Retentions                -32,243.06            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.          32,243.06            0.00                      
9. Total pay to Contractor              777,014.67       10,000.00                      
10. Reduction Amt to Escrow             -32,240.00            0.00                      
11. Payment to Escrow        32,240.00                                                  
12. Net Pymt. this Estimate                              10,000.00