Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-204-14-18  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  96%          87%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 23            Payment period ending: 07-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      15,571,015.24      389,711.89                      
2.a. Extra Work                         147,505.26          -16.66                      
  b. Adjustment Comp.                   -76,842.96            0.00                      
3. Materials on Hand                          0.00     -113,761.27                      
4. Earned Subject to Retention       15,641,677.54      275,933.96                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   16,015,738.54                                                 
7. Deductions                          -148,606.60       -8,000.00                      
8. a.Contract Retentions               -782,083.88      -13,796.70                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           15,085,048.06      254,137.26                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       782,080.00                                                  
12. Net Pymt. this Estimate                             254,137.26