If the owners agree, try giving the labs treats through the fence. If they see you and think 'food!' they will turn from barking to jumping around happy.
If not, pick her up before they start barking, and walk briskly past ignoring her no matter what she does (don't react to wiggling or crying ect.) she'll soon understand that you have it under control.
On the stretch of road she fears, try stopping as soon as she starts to pull and sit down on the ground. Ignore her if she's anxious, and do lots of calming signals. (calming signals = what dogs do when nervous. Yawning, slow blinking, loud sighs, looking at the ground, slow movements ect.) and scatter a hand full of treats on the ground so she has to walk to get them. When she'll looking around normally (wait tell she does!) stand up and start walking again. Repeat it every time she starts to pull and freak out. This will let her understand there is nothing to fear, no loud noises or aliens, just a road.
If you let her run past, your making it more of a scary place then it is, because your agreeing with her! Instead of laughing it off and saying what scary thing? (by your actions) your running from the scary thing too lol.