Dept. of Trans.          PROGRESS           Serial No.    Contract No.
                                            15-083-13-27  11-2T1824
                 PROGRESS PAYMENT VOUCHER   %complete:    %time:
                                              59%           51%

Location:                                   Federal Project:
11-SD-805-4.7/5.6                           NONE

Progress payment No. 025               Payment period ending: 03-20-15
GRANITE CONSTRUCTION COMPANY
P O BOX 50085
WATSONVILLE CA 950775085

Escrow No. 00000
                                        Total Estimate   This Estimate
 1. Contract Itms Without Mobil.         19,425,543.32      488,797.95
 2. a. Extra Work                           693,243.04       44,801.13
    b. Adustment Comp.                      172,905.18            0.00
 3. Materials on Hand                       644,320.69      289,059.84
 4. Earned Subject to Retention          20,936,012.23      822,658.92
 5. Mobilization                          3,724,750.00            0.00
 6. Total Work Completed     24,016,441.54
 7. Deductions                               -7,000.00            0.00
 8. a. Contract Retentions
    b. Unsatisfactory Retentions
    c. Reduction after 95% Comp.
 9. Total pay to Contractor              24,653,762.23      822,658.92
10. Reduction Amt to Escrow
11. Payment to Escrow                 0.00
12. Net Pymt. this Estimate                                 822,658.92