Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          05-025-09-50  11-167874                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  98%          98%                             
11-IMP-78-15.3/15.8                    Federal Project:                                 
                                     ACNH-X025(25)                                      
                                                                                        
                                                                                        
Progress payment No. 10            Payment period ending: 01-20-05                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  02190                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       9,531,068.15      520,859.31                      
2.a. Extra Work                          33,677.23        3,725.26                      
  b. Adjustment Comp.                    67,923.04      -35,751.28                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        9,632,668.42      488,833.29                      
5. Mobilization                         642,809.00            0.00                      
6. Total Work Completed   10,275,477.42                                                 
7. Deductions                           -61,185.64      -19,239.83                      
8. a.Contract Retentions               -481,633.42      -24,441.66                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            9,732,658.36      445,151.80                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       481,630.00                                                  
12. Net Pymt. this Estimate                             445,151.80