Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-235-06-28  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  97%          91%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 24            Payment period ending: 08-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      15,682,109.03      111,093.79                      
2.a. Extra Work                         171,129.83       23,624.57                      
  b. Adjustment Comp.                   -52,822.50       24,020.46                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       15,800,416.36      158,738.82                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   16,174,477.36                                                 
7. Deductions                          -128,082.60       20,524.00                      
8. a.Contract Retentions               -790,020.82       -7,936.94                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           15,256,373.94      171,325.88                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       790,020.00                                                  
12. Net Pymt. this Estimate                             171,325.88