Dept. of Trans.       AFTER ACCEPTANCE   Serial No.  Contract No.                       
                                          02-004-11-22  11-229404                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
11-IMP-115-21.2/35.2                    Federal Project:                                
                                     STP-S115(8)                                        
                             AC-S115(8)                                                 
                                                                                        
Progress payment No. 08            Payment period ending: 04-17-01                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01591                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,447,844.05            0.00                      
2.a. Extra Work                          27,682.15            0.00                      
  b. Adjustment Comp.                   -51,170.89            0.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        2,424,355.31            0.00                      
5. Mobilization                          10,000.00            0.00                      
6. Total Work Completed    2,434,355.31                                                 
7. Deductions                           -16,763.14        2,000.00                      
8. a.Contract Retentions               -117,044.68            0.00                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.         117,044.68            0.00                      
9. Total pay to Contractor            2,417,592.17        2,000.00                      
10. Reduction Amt to Escrow            -117,040.00            0.00                      
11. Payment to Escrow       117,040.00                                                  
12. Net Pymt. this Estimate                               2,000.00