Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          02-144-11-38  11-1993U4                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  93%          77%                             
11-IMP-111-R8.0/R12.9                    Federal Project:                               
                                     ACNH-P111(60)                                      
                                                                                        
                                                                                        
Progress payment No. 21            Payment period ending: 05-20-02                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  01646                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.      15,119,179.20      418,812.19                      
2.a. Extra Work                         133,601.27          836.13                      
  b. Adjustment Comp.                   -81,142.96            0.00                      
3. Materials on Hand                    113,761.27     -140,082.66                      
4. Earned Subject to Retention       15,285,398.78      279,565.66                      
5. Mobilization                         374,061.00            0.00                      
6. Total Work Completed   15,545,698.51                                                 
7. Deductions                          -144,394.19      167,830.24                      
8. a.Contract Retentions               -764,269.94      -13,978.28                      
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor           14,750,795.65      433,417.62                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow       764,260.00                                                  
12. Net Pymt. this Estimate                             433,417.62