Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          11-298-07-32  11-167894                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  29%          41%                             
11-IMP-78-R9.2/R12.1                    Federal Project:                                
                                     HPLU-6211(94)                                      
                                                                                        
                                                                                        
Progress payment No. 08            Payment period ending: 10-20-11                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       7,876,942.16      633,733.25                      
2.a. Extra Work                         134,843.62            0.00                      
  b. Adjustment Comp.                    94,227.80      -36,021.85                      
3. Materials on Hand                     55,677.89       55,677.89                      
4. Earned Subject to Retention        8,161,691.47      653,389.29                      
5. Mobilization                         802,750.00            0.00                      
6. Total Work Completed    8,908,763.58                                                 
7. Deductions                           -35,037.80      359,130.15                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            8,929,403.67    1,012,519.44                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,012,519.44