Document:

<PAGE>

                                                                   EXHIBIT 10.96

                                PROMISSORY NOTE

                                    6/4/99
                                 ------------
                                    (Date)

    4411 South 40th Street, Suite D-11, Phoenix, Maricopa County, AZ 85040
-----------------------------------------------------------------------------
                              (Address of Maker)

FOR VALUE RECEIVED, Meadow Valley Contractors, Inc. ("Maker") promises, jointly
and severally if more than one, to pay to the order of General Electric Capital
Corporation or any subsequent holder hereof (each, a "Payee") at its office
located at One Lincoln Centre, 5400 LBJ Freeway Suite 1280, L.B. 3, Dallas, TX
75240 or at such other place as Payee or the holder hereof may designate, the
principal sum of Three hundred thirty-eight thousand eight hundred forty-five
and no/100 Dollars ($338,845.00), with interest on the unpaid principal balance,
from the date hereof through and including the dates of payment, at a fixed,
simple interest rate of Seven and 81/100 percent (7.81%) per annum, to be paid
in lawful money of the United States, in Sixty (60) consecutive monthly
installments of principal and interest as follows:

     Periodic
    Installment          Amount
    ----------------------------
    1 thru 59         $ 6,839.78

each ("Periodic Installment") and a final installment which shall be in the
amount of the total outstanding principal and interest. The first Periodic
Installment shall be due and payable on July 4, 1999 and the following Periodic
Installments and the final installment shall be due and payable on the same day
of each succeeding period (each, a "Payment Date"). All payments shall be
applied first to interest and then to principal. The acceptance by Payee of any
payment which is less than payment in full of all amounts due and owing at such
time shall not constitute a waiver of Payee's right to receive payment in full
at such time or at any prior or subsequent time. Interest shall be calculated on
the basis of a 365 day year (366 day leap year). The payment of any Periodic
Installment after its due date shall result in a corresponding decrease in the
portion of the Periodic Installment credited to the remaining unpaid principal
balance. The payment of any Periodic Installment prior to its due date shall
result in a corresponding increase in the portion of the Periodic Installment
credited to the remaining unpaid principal balance.

The Maker hereby expressly authorizes the Payee to insert the date value is
actually given in the blank space on the face hereof and on all related
documents pertaining hereto.

This Note may be secured by a security agreement, chattel mortgage, pledge
agreement or like instrument (each of which is hereinafter called a "Security
Agreement").

Time is of the essence hereof. If any installment or any other sum due under
this Note or any Security Agreement is not received within ten (10) days after
its due date, the Maker agrees to pay, in addition to the amount of each such
installment or other sum, a late payment charge of five percent (5%) of the
amount of said installment or other sum, but not exceeding any lawful maximum.
If (i) Maker fails to make payment of any amount due hereunder within ten (10)
days after the same becomes due and payable; or (ii) Maker is in default under,
or fails to perform under any term or condition contained in any Security
Agreement, then the entire principal sum remaining unpaid, together with all
accrued interest thereon and any other sum payable under this Note or any
Security Agreement, at the election of Payee, shall immediately become due and
payable, with interest thereon at the lesser of eighteen percent (18%) per annum
or the highest rate not prohibited by applicable law from the date of such
accelerated maturity until paid (both before and after any judgment).

The Maker may prepay in full, but not in part, its entire indebtedness hereunder
upon payment of the entire indebtedness plus an additional sum as a premium
equal to the following percentages of the original principal balance for the
indicated period:
Prior to the first annual anniversary date of this Note:  One percent    (1%)

and zero percent (0%) thereafter, plus all other sums due hereunder or under any
Security Agreement.

It is the intention of the parties hereto to comply with the applicable usury
laws; accordingly, it is agreed that, notwithstanding any provision to the
contrary in this Note or any Security Agreement, in no event shall this Note or
any Security Agreement require the payment or permit the collection of interest
in excess of the maximum amount permitted by applicable law. If any such excess
interest is contracted for, charged or received under this Note or any Security
Agreement, or if all of the principal balance shall be prepaid, so that under
any of such circumstances the amount of interest contracted for, charged or
received under this Note or any Security Agreement on the principal balance
shall exceed the maximum amount of interest permitted by applicable law, then in
such event (a) the provisions of this paragraph shall govern and control, (b)
neither Maker nor any other person or entity now or hereafter liable for the
payment hereof shall be obligated to pay the amount of such interest to the
extent that it is in excess of the maximum amount of interest permitted by
applicable law, (c) any such excess which may have been
<PAGE>

collected shall be either applied as a credit against the then unpaid principal
balance or refunded to Maker, at the option of the Payee, and (d) the effective
rate of interest shall be automatically reduced to the maximum lawful contract
rate allowed under applicable law as now or hereafter construed by the courts
having jurisdiction thereof. It is further agreed that without limitation of the
foregoing, all calculations of the rate of interest contracted for, charged or
received under this Note or any Security Agreement which are made for the
purpose of determining whether such rate exceeds the maximum lawful contract
rate, shall be made, to the extent permitted by applicable law, by amortizing,
prorating, allocating and spreading in equal parts during the period of the full
stated term of the indebtedness evidenced hereby, all interest at any time
contracted for, charged or received from Maker or otherwise by Payee in
connection with such indebtedness; provided, however, that if any applicable
state law is amended or the law of the United States of America preempts any
applicable state law, so that it becomes lawful for the Payee to receive a
greater interest per annum rate than is presently allowed, the Maker agrees
that, on the effective date of such amendment or preemption, as the case may be,
the lawful maximum hereunder shall be increased to the maximum interest per
annum rate allowed by the amended state law or the law of the United States of
America.

The Maker and all sureties, endorsers, guarantors or any others (each such
person, other than the Maker, an "Obligor") who may at any time become liable
for the payment hereof jointly and severally consent hereby to any and all
extensions of time, renewals, waivers or modifications of, and all substitutions
or releases of, security or of any party primarily or secondarily liable on this
Note or any Security Agreement or any term and provision of either, which may be
made, granted or consented to by Payee, and agree that suit may be brought and
maintained against any one or more of them, at the election of Payee without
joinder of any other as a party thereto, and that Payee shall not be required
first to foreclose, proceed against, or exhaust any security hereof in order to
enforce payment of this Note. The Maker and each Obligor hereby waives
presentment, demand for payment, notice of nonpayment, protest, notice of
protest, notice of dishonor, and all other notices in connection herewith, as
well as filing of suit (if permitted by law) and diligence in collecting this
Note or enforcing any of the security hereof, and agrees to pay (if permitted by
law) all expenses incurred in collection, including Payee's reasonable
attorneys' fees

THE MAKER HEREBY UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM
OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF, DIRECTLY OR INDIRECTLY, THIS
NOTE, ANY OF THE RELATED DOCUMENTS, ANY DEALINGS BETWEEN MAKER AND PAYEE
RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS,
AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED BETWEEN MAKER AND PAYEE. THE
SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES
THAT MAY BE FILED IN ANY COURT (INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS,
TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS.) THIS WAIVER IS IRREVOCABLE MEANING THAT IT MAY NOT BE MODIFIED EITHER
ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS,
RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS NOTE, ANY RELATED DOCUMENTS, OR
TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED
TRANSACTION. IN THE EVENT OF LITIGATION, THIS NOTE MAY BE FILED AS A WRITTEN
CONSENT TO A TRIAL BY THE COURT.

This Note and any Security Agreement constitute the entire agreement of the
Maker and Payee with respect to the subject matter hereof and supercedes all
prior understandings, agreements and representations, express or implied.

No variation or modification of this Note, or any waiver of any of its
provisions or conditions, shall be valid unless in writing and signed by an
authorized representative of Maker and Payee. Any such waiver, consent,
modification or change shall be effective only in the specific instance and for
the specific purpose given.

Any provision in this Note or any Security Agreement which is in conflict with
any statute, law or applicable rule shall be deemed omitted, modified or altered
to conform thereto.

                                  Meadow Valley Contractors, Inc.

/s/ Nicole Smith                  By: /s/ Gary W. Burnell          (L.S.)
----------------------                -----------------------------
(Witness)                         (Signature)

Nicole Smith                      GARY W. BURNELL, VP/CFO
----------------------            ---------------------------------
(Print name)                      Print name (and title, if applicable)

3926 E. Kimberly Way              880171959
----------------------            ----------
(Address) Phoenix AZ 85050        (Federal tax identification number)
<PAGE>

                           COLLATERAL SCHEDULE NO. 5

THIS COLLATERAL SCHEDULE NO. 5 is annexed to and made a part of that certain
Master Security Agreement dated as of November 17, 1997 between General Electric
Capital Corporation, together with its successors and assigns, if any, as
Secured Party and Meadow Valley Contractors, Inc. as Debtor and describes
collateral in which Debtor has granted Secured Party a security interest in
connection with the Indebtedness (as defined in the Security Agreement)
including without limitation that certain Promissory Note dated 6/4/99 in the
original principal amount of $338,845.00.

<TABLE>
<CAPTION>
Quantity            Manufacturer      Serial Number        Year/Model and Type of Equipment
--------            ------------      -------------        --------------------------------
<S>                 <C>               <C>                  <C>

1                   Linkbelt           18HA738             1979 HC218A Lattice Boom
                                                           Truck Crane, 22Oft boom, 70ft
                                                           jib, 70 ton hook block & headache ball
</TABLE>

   and including all additions, attachments, accessories and accessions thereto,
   and any and all substitutions, replacements or exchanges therefor, and all
   insurance and/or other proceeds thereof.

Equipment immediately listed above is located at: 4411 South 40th Street,
Phoenix, Maricopa County, AZ 85040

SECURED PARTY:                          DEBTOR:

General Electric Capital Corporation    Meadow Valley Contractors, Inc.

By: /s/ [ILLEGIBLE]^^                   By: /s/ Gary W. Burnell
---------------------------------          -------------------------------

Title: SENIOR RISK ANALYST              Title: VP/CFO
      ---------------------------             ----------------------------

Date: 6/4/99                            Date: 6/2/99
     ----------------------------            -----------------------------<PAGE>

                                                                   EXHIBIT 10.97

<TABLE>
<S>                 <C>   <C>            <C>     <C>                     <C>            <C>                    <C>
SETTLED FOR?
                    New   Used                                                          For Office
Yes        No X      X     J             908     801  262-7441           14May99        Use Only  P01          880171959
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SELLER'S NAME & ADDRESS
 SCOTT MACHINERY COMPANY                     4055 SOUTH 500 WEST SALT LAKE CIT UT 84123
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BORROWER'S (DEBTOR'S) NAME (Last Name First)                              BORROWER'S (DEBTOR'S) NAME (Last Name First)
& MAILING ADDRESS (including County & Zip)                                & MAILING ADDRESS (including Zip)
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MEADOW VALLEY CONTRACTORS, INC.
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P.O. BOX 60726
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PHOENIX            MARIC AZ 85082
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BORROWER'S (DEBTOR'S) PHONE NO.               BORROWER (DEBTOR) RESIDES    BORROWER (DEBTOR) AGREES TO      PLACE OF FILING
                                              IN (Country, State)          KEEP GOODS IN (Co./St.)          (Town & State)
  602 437-5400                                  MARIC     AZ                 WEAVER         UT              SEC. OF STATE
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BORROWER'S SOC. SEC. NO. (First Signer) or        TYPE OF BUSINESS          NAME & TITLE OF SIGNING OFFICER (If Corporation or LLC)
                                            ------------------------------
FED. TAX ID. NO.                              Prop.  Partner  Corp.  LLC
###-##-####                                                  X               BRADLEY E. LARSON,       * PRESIDENT
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</TABLE>

I hereby apply to John Deere Construction Equipment Company (the "Lender") for a
loan of the Amount Financed shown below, and on the following terms and
conditions. The amount of the Unpaid Balance of Cash Price shown below on Line 3
is to be used to finance the Balance Due on the Purchase Order executed in
connection with the purchase from the Lender of the Equipment described below
(the "Goods"). I agree that I have received the Goods.

PARTIES: In this agreement, the words "I", "me", and "my" mean the persons,
whether one or more, who sign it as "Borrower(s)" (who is also known as
"Debtor(s)").

PROMISSORY NOTE: If this Loan Contract is accepted by Lender, I promise to pay
to Lender or its order the TOTAL OF PAYMENTS as in line 9 below, in monthly
installments and/or installments other than monthly as shown below. If more than
one person signs this agreement as "Borrower", we will be jointly and severally
liable for all amounts due under this agreement. I represent that the Goods are
being purchased for a business or commercial purpose.

<TABLE>
<CAPTION>
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  Qty     New     MFR.   MODEL                     GOODS (Equipment)              PRODUCT IDENTIFICATION NO.   DELIVERED CASH PRICE
          Used
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<S>       <C>    <C>     <C>        <C>                                           <C>                          <C>
   1       N     JD       160L      160LC EXCAVATOR                                   P00160X040482                  128500 00
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                                                                                                                     128500 00
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          OTY.    MFR.   MODEL    DESCRIPTION OF TRADE-IN (From Purchase Order)   PRODUCT IDENTIFICATION NO.           AMOUNT
         ---------------------------------------------------------------------------------------------------------------------------
TRADE-IN
  DATA   ---------------------------------------------------------------------------------------------------------------------------

         ---------------------------------------------------------------------------------------------------------------------------

         ---------------------------------------------------------------------------------------------------------------------------

         ---------------------------------------------------------------------------------------------------------------------------
          CASH DOWN PAYMENT:         26,180.00                                         TOTAL TRADE-IN                       00
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          INSTALLMENTS OTHER THAN MONTHLY                 MONTHLY INSTALLMENTS
-------------------------------------------------------------------------------------
   Amount    No. Of  When Payments   Amount      No. Of    Amount Of   First Payment
  Financed    Mos.     Are Due     Of Payments  Payments  Each Payment   Due Date
-------------------------------------------------------------------------------------
                                                   48        2499 05       01-Aug-99
-------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------

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                                                                                                  ITEMIZATION OF AMOUNT FINANCED
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                                                                                       SALES TAX                          8159 75
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                                                                           01-Jul-03   CASH PRICE (Including Tax)    1  136659 75
-------------------------------------------------------------------------------------
                                                                                       TOTAL DOWN PAYMENT (Sum of
-------------------------------------------------------------------------------------
                               Payments are due each successive month on the same day  Trade-In & Cash Down Payment) 2   26180 00
                               of the month as the first payment except as follows:
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                                JUN 99                                                 UNPAID BALANCE                3  110479 75
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                                                                                       DOCUMENTATION FEES            4     400 00
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                                                                                       OFFICIAL FEES                 5      20 00
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                    TOTALS                     DATE FINANCE CHARGE BEGINS: 01-Jul-99   INSURANCE-Credit Life
                                                                                       and/or Physical Damage        6         00
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SECURITY AGREEMENT: To secure the indebtedness evidenced by this contract, I hereby    PRINCIPAL BALANCE             7  110899 75
grant to Lender (Secured Party) a Security Interest in the Goods described above     -----------------------------------------------
(which term includes items, if any, listed as "security" or "additional security")     FINANCE CHARGE                8    9054 65
and all parts and accessories now or hereafter incorporated in or on such Goods by   -----------------------------------------------
way of addition, accession or replacement, together with all proceeds, including,      TOTAL
without limitation, insurance proceeds.                                                (Principal Balance plus       9 119954 40
                                                                                       finance Charge)
EARLY PAYMENT: I may prepay my obligation in full at any time prior to the original  -----------------------------------------------
or any extended maturity and will be charged only for earned Finance Charges. No       ANNUAL INTEREST RATE
penalties will be imposed for early payment.                                           The cost of the Borrower(s)
                                                                                       credit as a yearly rate.            3.90%
ADDITIONAL CONTRACT INFORMATION: See the front and back of this agreement for        -----------------------------------------------
additional information and terms regarding non-payment, default, the right to demand
immediate payment, and prepayment refunds.                                           -----------------------------------------------

LATE PAYMENTS: In addition to promising to pay the installments set forth above, I
promise to pay past due penalty on each installment in default more than 10 days
(15 days in North Carolina) not to exceed the highest penalty permitted by
applicable state law.
</TABLE>

RETURNED CHECK FEE: If payment is made by a check, draft, or order which is
dishonored, I agree to pay you a fee of $20 or such lesser amount specified by
applicable law.

STATE LAW APPLYING: EXCEPT AS PROHIBITED BY THE LAW OF THE STATE WHERE I LIVE,
THE CONSTRUCTION AND VALIDITY OF THIS AGREEMENT SHALL BE CONTROLLED BY THE LAW
OF IOWA, WHERE THIS AGREEMENT IS ACCEPTED AND ENTERED INTO, AND THE VALIDITY OF
THE SECURITY INTEREST SHALL BE CONTROLLED BY THE LAW OF THE STATE WHERE THE
GOODS ARE TO BE KEPT AND USED.

PHYSICAL DAMAGE INSURANCE REQUIRED (See Provisions on Reverse Side)

Liability insurance coverage for bodily injury and property damage caused to
others not included. If you desire Liability coverage, you should obtain such
coverage from an agent of your choice.

--------------------------------------------------------------------------------
    ADDITIONAL PROVISIONS CONCERNING RIGHTS OF THE PARTIES ON REVERSE SIDE
                          ARE A PART OF THIS CONTRACT
--------------------------------------------------------------------------------

<TABLE>
<S>                                                                     <C>         <C>       <C>
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INSURANCE DISCLOSURES: I may obtain Physical Damage Insurance from      NO. MOS.    PREMIUM   I want Physical Damage Insurance
anyone I want that is acceptable to Lender. If I get this insurance                           (Sign in this box)
through Seller, I will pay the Premium shown at right. No insurance
will be provided unless I sign at the right, the premium is shown
and Lender accepts this contract.                                                             X
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Credit Life Insurance is not required to obtain credit and will not     NO. MOS.    PREMIUM   I want Credit Life Insurance
be provided unless I sign at the right, the premium is shown and                              (Sign in this box)
Lender accepts this contract.                                                                 X                            Age:
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</TABLE>

NOTICE TO BORROWER(S): 1. Do not sign this contract before you read it or if it
contains blank spaces. 2. You are entitled to an exact and completely filled in
copy of this contract when you sign it. Keep it to protect your legal rights. 3.
Under the law, you have the following rights, among others: a. to pay off in
advance the full amount due and to obtain a partial refund of the finance
charge; b. to redeem the property if repossessed for a default within the time
provided by law; c. to require, under certain conditions, a resale of the
property if repossessed.

CAUTION: IT IS IMPORTANT THAT YOU THOROUGHLY READ THE CONTRACT BEFORE YOU SIGN
IT.
I acknowledge receipt of a true copy hereof.

<TABLE>
<S>                                                             <C>              <C>
MEADOW VALLEY CONTRACTORS, INC.                                                    DO NOT WRITE IN SHADED AREA. - FOR DEERE CREDIT
                                                                                  SERVICES, INC. USE ONLY.
                                                                                 ---------------------------------------------------
 /s/ Bradley E. Larson - Pres.                                  Date  6/29/99     Accepted By: JOHN DEERE CONSTRUCTION EQUIPMENT
--------------------------------------------------------------       ----------   COMPANY (Lender/Secured Party)
Borrower's (Debtor's) Signature  BRADLEY E. LARSON, President
                                                                                  AT 1415 28th Street, P.O. Box 65090, West Des
                                                                                     ------------------------------------------
______________________________________________________________  Date __________      Moines, IA 50265-0090
Borrower's (Debtor's) Signature                                                     -------------------------------------------
                                                                                    (Address)
______________________________________________________________  Date __________   BY /s/ Margaret Thomas               Date 7/9/99
Borrower's (Debtor's) Signature                                                     -----------------------------      -------------
                                                                                    (Authorized Signature)
                                                                                 ---------------------------------------------------
</TABLE>

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