Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-053-15-06  05-423404                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 PEP        SAT                                
05-SLO-101-16.2/R21.5                    Federal Project:                               
                                     ACNH-P101(924)                                     
                                                                                        
                                                                                        
Progress payment No. 23            Payment period ending: 02-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01482                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       5,161,597.75        2,000.00                      
2.a. Extra Work                         709,294.86      140,633.92                      
  b. Adjustment Comp.                   133,013.91       -9,304.22                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        6,003,906.52      133,329.70                      
5. Mobilization                                                                         
6. Total Work Completed    6,003,906.52                                                 
7. Deductions                          -152,800.50            0.00                      
8. a.Contract Retentions               -300,195.33       -6,666.49                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            5,550,910.69      126,663.21                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       300,190.00                                                  
12. Net Pymt. this Estimate                             126,663.21