Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          04-237-06-49  06-339504                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  61%          66%                             
06-TUL-63-8.0/9.2                    Federal Project:                                   
                                     ACST-P063(16)                                      
                             P-P063(16)                                                 
                                                                                        
Progress payment No. 05            Payment period ending: 08-20-04                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       1,828,638.28    1,141,045.58                      
2.a. Extra Work                               0.00      -14,071.17                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention        1,828,638.28    1,126,974.41                      
5. Mobilization                         304,900.00       15,245.00                      
6. Total Work Completed    2,133,538.28                                                 
7. Deductions                           -20,000.00      -10,000.00                      
8. a.Contract Retentions                -91,431.91      -28,825.09                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,022,106.37    1,103,394.32                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,103,394.32