<PAGE>
        CIT                                Tel: 800 553-8778      Exhibit 10.217
        Equipment Rental and Finance-US    P.O. Box 27248
        1540 W. Fountainhead Parkway       Tempe, AZ 85285-7248
        Tempe, AZ 85282                    www.cit.com


[CIT LOGO]
     Ready Mix, Inc.
     3430 E. Flamingo Rd. #100
     Las Vegas, NV 89121-5018

        RE: RENEWAL AND AMENDMENT OF AMENDED AND RESTATED REVOLVING LOAN
            AGREEMENT


     Gentlemen:


     Reference is made to the Amended and Restated Revolving Loan Agreement,
     dated July 27, 2001, as amended (the "Loan Agreement"), between Ready Mix,
     Inc., (the "Company") and The CIT Group/Equipment Financing, Inc. ("CIT").

     The Loan Agreement shall be amended as follows:

     1.   Section 1 of the Loan Agreement: JANUARY 1, 2003 (the "Termination
          Date"), is amended to read: JANUARY 1, 2004 (the "Termination Date").

     2.   Section 2(c) of the Loan Agreement: DECEMBER 31, 2000, is amended to
          read: DECEMBER 31, 2001.

     3.   Section 3 of the Loan Agreement is amended to add the following:


          Company hereby authorizes CIT, in its sole election, to charge to the
          Loan Account(s) and cause to paid all interest described in Section
          5, in addition to fees, expenses, and other charges due and owing by
          the Company under this Agreement as such payments become due. The
          Company confirms that any charges which CIT may so make to the
          Company's Loan Account(s) as herein provided will be made as an
          accommodation to the Company and that such charges may be made even
          if such charges would cause the aggregate balance of the Loan
          Account(s) to exceed the Borrowing Availability.

     4.   Section 4.2. of the Loan Agreement: JANUARY 31, 2003, is amended to
          read: JANUARY 31, 2004.

     5.   Section 8.2(b) of the Loan Agreement: Eighty-three (83%) of the
          aggregate appraised value of the Eligible Equipment, is amended to
          read: Sixty-seven percent (67%) of the aggregate appraised value of
          the Eligible Equipment.

     6.   Section 8.3 of the Loan Agreement: The Total of Eligible Receivables
          as of the date June 30, 2001 is $4,799,696.09. Sixty-five percent
          (65%) of the Eligible Receivables is $3,119,763.46. The Aggregate
          appraised value of Eligible Equipment described in Schedule A as of
          this date is $64,500.00. Eighty-three percent (83%) of the aggregate
          appraised value of the Eligible Equipment is $53,535.00. The total
          Eligible Inventory as of the date MAY 31, 2001, is $910,078.10. Fifty
          percent (50%) of the Eligible Inventory is $455,039.05; however, the
          maximum advance per 8.2(c) above is $700,000.00, is amended to read:
          The Total of Eligible Receivables as of the date NOVEMBER 30, 2002 is
          $5,274,607.40. Sixty-five percent (65%) of the Eligible Receivables
          is $3,428,494.81. The Aggregate appraised value of Eligible Equipment
          described in Schedule A as of this date is $410,300.00. Sixty-seven
          percent (67%) of the aggregate appraised value of the Eligible
          Equipment is $274,901.00. The total Eligible Inventory as of the date
          NOVEMBER 30, 2002, is $943,621.76. Fifty percent (50%) of the
          Eligible Inventory is $471,810.88; however, the maximum advance per
          8.2(c) above is $700,000.00.


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7.  Section 14 of the Loan Agreement is amended to add the following provision:

    14.10 Ready Mix, Inc. defaults under the terms of that certain Revolving
    Loan Agreement dated July 27, 2001 between Ready Mix, Inc. and CIT, as
    amended.

8.  Financial Covenant Rider to the Guaranty

    (2) is deleted and replaced with the following:

        at all times during the Guarantor's fiscal year 2001, the Guarantor's
        Tangible Net Worth will not be less than $11,000,000.00. For each fiscal
        year thereafter, the Guarantor's Tangible Net Worth shall not be less
        than the minimum Tangible Net Worth required to be maintained in the
        previous fiscal year plus 50% of the Guarantor's net income after taxes
        for the previous fiscal year. The minimum Tangible Net Worth required to
        be maintained pursuant to this section shall not be decreased if in any
        fiscal year the Guarantor has a deficit net income after taxes.

The Company represents and warrants to CIT that

        this Renewal and Amendment Agreement constitutes its legal, valid and
        binding obligation, enforceable in accordance with its terms;

        its representations and warranties set forth in this Renewal and
        Amendment Agreement and all other documents executed in connection
        therewith are true and correct on the date hereof; and

        there exists no event of default (as the term is defined in the Loan
        Agreement) under the Loan Agreement or any other executed in connection
        therewith on the date hereof.

Except as modified herein, the Loan Agreement and all documents executed in
connection therewith shall continue in full force and effect.

In addition to the payments of principal, interest and other charges due under
the terms of the Loan Agreement, the Company agrees to pay CIT a line renewal
fee of $17,500.00 upon receipt of invoice.

SCHEDULE "A" TO THE LOAN AGREEMENT IS AMENDED PER THE ATTACHED SCHEDULE "A" TO
THIS RENEWAL AND AMENDMENT AGREEMENT.

Sincerely,
The CIT Group/Equipment Financing, Inc.

<Table>
<S><C>                 <C>
By                     Title:
  --------------------       ---------
<C>                                           <C>
ACKNOWLEDGED AND AGREED TO:                   GUARANTOR ACKNOWLEDGEMENT:

Ready Mix, Inc.                               Meadow Valley Corporation

By: /s/ Clint Tryon    Title: Sec/Treas       By: /s/ Kenneth Nelson Title: Vice President
   -------------------       ----------           ------------------        --------------

                                              Meadow Valley Contractors, Inc.

                                              By: /s/ Bradley E. Larson     Title: President
                                                 ----------------------     --------------
</Table>


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