Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          07-081-13-31  06-407204                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  44%          51%                             
06-MAD-99-9.1/9.8                    Federal Project:                                   
06-MAD-145-8.9/9.2                                     NH                               
                                                                                        
                                                                                        
Progress payment No. 05            Payment period ending: 03-20-07                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 95077                                                                    
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,472,979.55      400,933.86                      
2.a. Extra Work                          72,804.49        5,109.97                      
  b. Adjustment Comp.                      -619.57            0.00                      
3. Materials on Hand                    116,902.60      116,902.60                      
4. Earned Subject to Retention        2,662,067.07      522,946.43                      
5. Mobilization                          85,500.00            0.00                      
6. Total Work Completed    2,630,664.47                                                 
7. Deductions                           -10,000.00      -10,000.00                      
8. a.Contract Retentions               -133,103.35      -16,397.64                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            2,604,463.72      496,548.79                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                             496,548.79