Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-168-14-34  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  94%          82%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 22            Payment period ending: 06-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      15,181,303.35       62,124.15                      
2.a. Extra Work                         147,521.92       13,920.65                      
  b. Adjustment Comp.                   -76,842.96        4,300.00                      
3. Materials on Hand                    113,761.27            0.00                      
4. Earned Subject to Retention       15,365,743.58       80,344.80                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   15,626,043.31                                                 
7. Deductions                          -140,606.60        3,787.59                      
8. a.Contract Retentions               -768,287.18       -4,017.24                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           14,830,910.80       80,115.15                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       768,280.00                                                  
12. Net Pymt. this Estimate                              80,115.15