Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          12-236-09-49  11-2T1804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  20%          26%                             
11-SD-805-9.4/13.8                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 02            Payment period ending: 08-20-12                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,827,181.42      778,225.60                      
2.a. Extra Work                           6,160.00        6,160.00                      
  b. Adjustment Comp.                    -2,000.00       -2,000.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,831,341.42      782,385.60                      
5. Mobilization                       1,068,750.00      356,250.00                      
6. Total Work Completed    2,900,091.42                                                 
7. Deductions                            -5,293.55       -5,097.85                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,894,797.87    1,133,537.75                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,133,537.75