Dept. of Trans.       SEMI-FINAL   Serial No.  Contract No.                             
                                          12-178-10-52  04-2G9804                       
                PROGRESS PAYMENT VOUCHER  %complete:   %time:                           
Location:                                 100%         100%                             
04-SCL-87-4.8                    Federal Project:                                       
                                     NONE                                               
                                                                                        
                                                                                        
Progress payment No. 03            Payment period ending: 10-26-11                      
GRANITE CONSTRUCTION COMPANY                                                            
715 COMSTOCK STREET                                                                     
SANTA CLARA, CA 95054                                                                   
                                                                                        
                                                                                        
Escrow No.  00000                                                                       
                                    Total Estimate   This Estimate                      
1. Contract Itms Without Mobil.                                                         
2.a. Extra Work                         933,663.30       36,677.11                      
  b. Adjustment Comp.                                                                   
3. Materials on Hand                                                                    
4. Earned Subject to Retention          933,663.30       36,677.11                      
5. Mobilization                                                                         
6. Total Work Completed      933,663.30                                                 
7. Deductions                                                                           
8. a.Contract Retentions                                                                
   b. Unsatisfactory Prog.                                                              
   c. Reduction after 95% Comp.                                                         
9. Total pay to Contractor              933,663.30       36,677.11                      
10. Reduction Amt to Escrow                                                             
11. Payment to Escrow             0.00                                                  
12. Net Pymt. this Estimate                              36,677.11