Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-052-15-13  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  86%          64%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 18            Payment period ending: 02-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      13,841,743.31    2,856,931.27                      
2.a. Extra Work                          77,001.11       10,421.84                      
  b. Adjustment Comp.                   -84,281.52      -15,606.35                      
3. Materials on Hand                    206,707.79      -70,605.27                      
4. Earned Subject to Retention       14,041,170.69    2,781,141.49                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   14,208,523.90                                                 
7. Deductions                          -138,586.43      -14,336.98                      
8. a.Contract Retentions               -702,058.53     -139,057.07                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           13,574,586.73    2,627,747.44                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       450,000.00                                                  
12. Net Pymt. this Estimate                           2,627,747.44