Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          12-332-09-30  11-167894                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  95%         100%                             
11-IMP-78-R9.2/R12.1                    Federal Project:                                
                                     HPLU-6211(94)                                      
                                                                                        
                                                                                        
Progress payment No. 22            Payment period ending: 11-20-12                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      27,804,617.59      201,012.00                      
2.a. Extra Work                         566,923.01        6,810.15                      
  b. Adjustment Comp.                   891,901.40      -13,414.54                      
3. Materials on Hand                     35,581.76            0.00                      
4. Earned Subject to Retention       29,299,023.76      194,407.61                      
5. Mobilization                         845,000.00            0.00                      
6. Total Work Completed   30,108,442.00                                                 
7. Deductions                          -137,964.77        5,010.40                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           30,006,058.99      199,418.01                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             199,418.01