Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          01-141-16-12  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  13%          25%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 08            Payment period ending: 05-20-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,688,662.07      940,941.74                      
2.a. Extra Work                          19,468.22         -274.24                      
  b. Adjustment Comp.                     8,445.01            0.00                      
3. Materials on Hand                          0.00     -141,810.48                      
4. Earned Subject to Retention        1,716,575.30      798,857.02                      
5. Mobilization                         280,545.75       93,515.25                      
6. Total Work Completed    1,997,121.05                                                 
7. Deductions                           -42,685.69      -10,000.00                      
8. a.Contract Retentions               -171,657.53      -79,885.70                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            1,782,777.83      802,486.57                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       171,650.00                                                  
12. Net Pymt. this Estimate                             802,486.57