Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-356-13-37  11-199364                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  99%          95%                             
11-IMP-111-13.0/22.1                    Federal Project:                                
                                     ACNH-P111(65)                                      
                                                                                        
                                                                                        
Progress payment No. 22            Payment period ending: 12-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  02117                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      11,709,689.29       48,529.36                      
2.a. Extra Work                         610,180.45      142,295.96                      
  b. Adjustment Comp.                   235,714.54         -646.93                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       12,555,584.28      190,178.39                      
5. Mobilization                         630,000.00            0.00                      
6. Total Work Completed   13,185,584.28                                                 
7. Deductions                           -27,387.24            0.00                      
8. a.Contract Retentions               -627,779.21       -9,508.92                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           12,530,417.83      180,669.47                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       627,770.00                                                  
12. Net Pymt. this Estimate                             180,669.47