Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-295-15-25  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  97%         100%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 26            Payment period ending: 10-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      15,818,191.49       45,194.37                      
2.a. Extra Work                         200,538.40       23,606.74                      
  b. Adjustment Comp.                   -67,275.73      -14,453.23                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention       15,951,454.16       54,347.88                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   16,325,515.16                                                 
7. Deductions                          -166,434.99      -29,263.59                      
8. a.Contract Retentions               -797,572.71       -2,717.40                      
   b. Unsatisfactory Prog.               -2,717.39       -2,717.39                      
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           15,358,790.07       19,649.50                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       797,570.00                                                  
12. Net Pymt. this Estimate                              19,649.50