Dept. of Trans.       PROGRESS   Serial No.  Contract No.                               
                                          12-264-15-07  11-2T1804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                  28%          39%                             
11-SD-805-9.4/13.8                    Federal Project:                                  
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 09-20-12                      
GRANITE CONSTRUCTION COMPANY                                                            
P O BOX 50085                                                                           
WATSONVILLE CA 950775085                                                                
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.       2,359,465.22      532,283.80                      
2.a. Extra Work                         664,720.50      658,560.50                      
  b. Adjustment Comp.                   -51,870.00      -49,870.00                      
3. Materials on Hand                                                                    
4. Earned Subject to Retention        2,972,315.72    1,140,974.30                      
5. Mobilization                       1,353,750.00      285,000.00                      
6. Total Work Completed    4,326,065.72                                                 
7. Deductions                           -10,371.83       -5,078.28                      
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor            4,315,693.89    1,420,896.02                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                           1,420,896.02