Dept. of Trans.             PROGRESS              Serial No.    Contract No.
                                                  25-141-11-07  11-2T3644
                    PROGRESS PAYMENT VOUCHER      %complete:    %time:
                                                    79%           48%

Location:                                         Federal Project:
11-SD-56-0.3/3.0                                  NONE

Progress payment No. 016                     Payment period ending: 05-20-25
GRANITE CONSTRUCTION COMPANY
PO BOX 742478
LOS ANGELES CA 90074-2478

Escrow No. 00000
                                           Total Estimate      This Estimate
 1. Contract Itms Without Mobil.             7,926,893.83         409,279.84
 2. a. Extra Work                            4,289,802.79         664,500.27
    b. Adustment Comp.                         425,795.57          -4,000.00
 3. Materials on Hand                           67,096.17          -7,333.35
 4. Earned Subject to Retention             12,709,588.36       1,062,446.76
 5. Mobilization                               924,520.00               0.00
 6. Total Work Completed     13,567,012.19
 7. Deductions                                 -12,000.00               0.00
 8. a. Contract Retentions
    b. Unsatisfactory Retentions
    c. Reduction after 95% Comp.
 9. Total pay to Contractor                 13,622,108.36       1,062,446.76
10. Reduction Amt to Escrow
11. Payment to Escrow                 0.00
12. Net Pymt. this Estimate                                     1,062,446.76